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Speaker 1: Global business news twenty four hours a day at Bloomberg

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Speaker 1: dot Com, the Radio plus mobile last, and on your radio.

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Speaker 1: This is a Bloomberg Business Flash from Bloomberg World Headquarters.

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Speaker 1: I'm Charlie Pellett. Stocks of paired losses. The Dow and

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Speaker 1: the SMP five hundred index both declining today. The NESTA

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Speaker 1: Compositive Index up twelve points. And we are brought to

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Speaker 1: you by National Realty thirty percent returns on cash in

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Speaker 1: rented real estate. Find them at n r I. A

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Speaker 1: dot net stock slipped after strong consumer spending data boosted

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Speaker 1: a bolster the case that the Federal Reserve will raise

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Speaker 1: interest rates as early as this summer. Oil had its

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Speaker 1: longest run of monthly gains in five years, four in

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Speaker 1: a row for crude oil. Today, West Texas Intermediate down

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Speaker 1: seven tenths of one percent, falling thirty seven cents to

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Speaker 1: forty eight dollars and ninety seven cents. Consumer spending up

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Speaker 1: one percent in April as confidence falls amid concerns about

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Speaker 1: the job market. Lynn Franco is Director of Economic Indicators

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Speaker 1: at the Conference Board. She was our guests this afternoon.

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Speaker 1: Right here on taking stock could take a look at

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Speaker 1: the expectations. Um, you know, six months down the road,

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Speaker 1: there was an increase in NOSE saying that they expect

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Speaker 1: fewer jobs to be available. And I think this really

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Speaker 1: translates into what we're sort of seeing a little bit

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Speaker 1: in the labor market is that job growth may be slowing.

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Speaker 1: I think the expectations are for about a hundred and

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Speaker 1: sixty thousand jobs, perhaps less because the Verizon strike at

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Speaker 1: the end of this week, but clearly a little bit

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Speaker 1: slower than the two hundred plus that we had averaged

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Speaker 1: earlier months. And spending UH climbed in April by the

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Speaker 1: most in almost seven years. The signed US households are

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Speaker 1: ready to help jumps jump start growth after a first

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Speaker 1: quarter slowdown. The one percent increase was the most since

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Speaker 1: August of two thousand nine. SMP five hundred index down

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Speaker 1: two points to two thousand ninety seven, to decline there

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Speaker 1: of point one percent down, Industrials down eighty seven points

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Speaker 1: to drop of five tenths of one percent, Stack up fourteen,

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Speaker 1: a gain of three tenths of one percent, Gold up

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Speaker 1: a dollar twenty ounce to twelve fifteen, a gain there

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Speaker 1: of point one percent four oh two on Wall Street. Now,

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Speaker 1: let's take a look at other news from around the

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Speaker 1: world on Bloomberg Radio. Thank you Charlie from the Bloomberg

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Speaker 1: News Room. I'm Ramie. In essentio. Donald Trump is breaking

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Speaker 1: down how much money he raised for veterans charities in

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Speaker 1: recent months. The presumptive Republican presidential nominee gave details to

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Speaker 1: reporters during a news conference today. I raised close to

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Speaker 1: six million dollars. It'll probably be over that amount when

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Speaker 1: it's all said and done, but as at this moment,

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Speaker 1: it's five point six million dollars. Trump is edging closer

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Speaker 1: to Hillary Clinton. In a new national poll, Clinton leads

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Speaker 1: Trump forty seven to forty five percent, and the latest

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Speaker 1: NBC News survey Monkey weekly poll that's a two point

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Speaker 1: gain for Trump from the previous week. Clinton's rival Bernie

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Speaker 1: Sanders leads Trump by twelve points fifty two in a

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Speaker 1: hypothetical general election matchup. Scientists say municipal water in Flint, Michigan,

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Speaker 1: has gotten much better in recent months and is safe

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Speaker 1: for handwashing, showering, and bathing, but a filter should still

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Speaker 1: be used for drinking and food preparation. A team provided

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Speaker 1: an update today on results of sampling from homes and

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Speaker 1: buildings in the city where the water became tainted with

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Speaker 1: lead and other pollutants. And jurors have found former suburban

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Speaker 1: Chicago police officer Drew Peterson guilty of trying to hire

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Speaker 1: someone to kill the prosecutor who helped convict him in

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Speaker 1: his third wife's death. Peterson had been accused of trying

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Speaker 1: to hire a fellow inmates uncle to commit that alleged murder.

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Speaker 1: The former officer is already serving a thirty eight year

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Speaker 1: sentence for that crime. He's now facing another sixty more

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Speaker 1: years in prison and a role reversal for suffolg d A.

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Speaker 1: Daniel Conley. He's a witness in court defending himself in

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Speaker 1: a lawsuit by a former prosecutor. Global News twenty four

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Speaker 1: hours a day, powered by our journalists in more than

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Speaker 1: one news bureaus around the world. From the Bloomberg Newsroom,

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Speaker 1: I'm Rainy. Innocents you, Charlie, and we thank you so.

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Speaker 1: The monthly gain for stocks SMP five hundred, indecks falling

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Speaker 1: two points today to end the month at two thousand,

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Speaker 1: ninety six down point. I'm Charlie Pellett. That's a Bloomberg

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Speaker 1: business flash. Move around most and create promotion. I move,

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Speaker 1: you move like they do. I've never seen anyone move that.

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Speaker 1: The five peoplet's move like you've got a purpose. That

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Speaker 1: was called movers cross A little more about that name

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Speaker 1: cracked me up. Bloomberg taking stock Movers and Shakers with

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Speaker 1: Pimp Box and Kathleen As on Bloomberg Radio. Movers and

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Speaker 1: Shakers for Tuesday, May thirty one, went a sixteen taking

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Speaker 1: a look at the constituents of the SMP five hundred,

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Speaker 1: two hundred and fifty advance, two hundred and fifty one decline,

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Speaker 1: and four remain unchanged. Dave Wilson, Bloomberg Stocks Commas joins

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Speaker 1: us now to begin our movers and Shakers, and Dave

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Speaker 1: just a footnote when we say SMP five hundred, and

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Speaker 1: why are they're more constituented is because there are multiple

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Speaker 1: classes of stock for companies such as Alphabet, the parent

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Speaker 1: of Google correct And as it turns out, there are

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Speaker 1: SMP five hundred earnings reports this week, three of them

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Speaker 1: to be exact, but none of them from companies that

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Speaker 1: actually have their legal homes here in the US. So

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Speaker 1: I just wanted to clarify that point and then point

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Speaker 1: out that today's report came from Metronic, medical device maker

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Speaker 1: with their legal home in Ireland. UH. Profit margins at

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Speaker 1: Metronic for the fiscal fourth quarter were lower than analysts

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Speaker 1: expected based on the Bloomberg survey. Metronics outlook for this

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Speaker 1: a school year showed profit may do no better than

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Speaker 1: match the average estimate. So you had Metronics shares for

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Speaker 1: one and a half percent in today's trading. And I'll

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Speaker 1: point out Michael Course Holdings, the luxury goods maker as

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Speaker 1: results due out tomorrow. And then the chip maker broad Calm,

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Speaker 1: which was a Vago Technologies before some deal making. UH,

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Speaker 1: their results are due on Thursday. Well, let's take a

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Speaker 1: look at a utility company merger. There is a boom

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Speaker 1: in these kinds of deals. More than fifty two billion

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Speaker 1: dollars worth of utility bill deals pending or completed across

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Speaker 1: the United States last year. That's the most since And

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Speaker 1: this is our data compiled right here at Bloomberg. Great

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Speaker 1: Planes Energy is agreeing to buy west Star Energy, it's

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Speaker 1: the biggest utility in Kansas, for eight points six billion dollars.

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Speaker 1: Great Planes will pay fifty one dollars per share in

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Speaker 1: cash nine dollars per share in stock. UH. The CEO

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Speaker 1: saying the combination of our two company is the best

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Speaker 1: fit for meeting our region's energy needs. Investors taking a

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Speaker 1: look at this and buying Western Energy shares. The stock

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Speaker 1: closing up six point four percent today at fifty six

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Speaker 1: dollars in change, while Great Plane stock prices down nearly

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Speaker 1: five point nine percent at twenty nine dollars in eighteen cents.

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Speaker 1: Shares a Bowing today down about two point three percent.

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Speaker 1: This comes after an investment report from Howard Rubell of

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Speaker 1: Jeffreys speaking about persistent delays in the k C of

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Speaker 1: forty six contract. This is the production of the new

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Speaker 1: aerial refueling tanker. Howard Rubell calls it unsatisfactory in spite

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Speaker 1: of the program's long term potential, and he and Boeing

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Speaker 1: had said earlier that the Air Force had moved the

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Speaker 1: k C forty six production decision to August from this

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Speaker 1: June and will implement a solution for that refueling boom

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Speaker 1: that has been identified in flight testing is needing even

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Speaker 1: more work contract awards previously expected in the spring Morth

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Speaker 1: post bowments he describes as being a drag on Bowing

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Speaker 1: cash flow. Shares down two point for Boeing tell you.

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Speaker 1: It was a busy day on the deal front. West

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Speaker 1: Star and Great Plains just the biggest at eight point

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Speaker 1: seven billion dollars. But there are a couple of deals

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Speaker 1: that kind of went off the rails a bit. Uh,

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Speaker 1: one of them. I want to focus on Fidelity and Guarantee. Now,

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Speaker 1: this isn't Ensure that it agreed to take over by

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Speaker 1: China's and Bang Insurance Group. And if that name sounds familiar,

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Speaker 1: it is because they have, among other things, about the

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Speaker 1: Waldorf historia here in New York. Well, as it turns out,

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Speaker 1: and Bank withdrew a request with New York state regulators

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Speaker 1: to go ahead and buy Fidelity and Guarantee. The regulators

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Speaker 1: question and Bank's ownership structure and reserve funding for the

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Speaker 1: deal that at one point six billion dollars. Now, this

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Speaker 1: has already received approval from US regulators, specifically the Committee

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Speaker 1: on Foreign Investment in the US, which has to rule

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Speaker 1: whenever you can get a company from China or a

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Speaker 1: whole lot of other places, Uh, making an offer like this,

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Speaker 1: and Banks says it plans to really refile in the

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Speaker 1: near future. Nonetheless, the shares of Fidelity and Guarantee falling

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Speaker 1: three point three in today's quick look at Office Depot.

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Speaker 1: You know that deal that Mergery wanted to make with

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Speaker 1: Staples fell through less than a month ago and its

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Speaker 1: stock has uh fallen forty percent over the past a month.

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Speaker 1: But today they got their stock price moving higher today

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Speaker 1: announcing a one hundred million dollar stock buyback plan. We

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Speaker 1: now see shares of Office Depot closing up one point

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Speaker 1: four percent. It's time now for the Volatility Index report,

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Speaker 1: and it's brought to you by cbo E VIS Options

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Speaker 1: Slash Powerful outcomes VIX Well. The VIX up more than

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Speaker 1: ten percent today, closing at fourteen point three three. That's

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Speaker 1: up one point two points. That was probably its biggest

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Speaker 1: jump since early April. However, even with Vis remains on

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Speaker 1: pace for a May decline. This is the last day

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Speaker 1: of the month after rising last month. All right, Dave,

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Speaker 1: you're hi, My name is Dave. Just what do you

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Speaker 1: think you're doing? We're going for the price on Dave

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Speaker 1: Dave Hey, Mr Wilson Bloomberg Stocks commas tell us about

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Speaker 1: an industrial services provider that may be benefiting from the

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Speaker 1: index effect. I did look it up. Go ahead, all right,

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Speaker 1: we're talking about Team Incorporated. Sounds like it should be

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Speaker 1: in the sports equipment business. Nonetheless, the company inspects and

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Speaker 1: maintains refineries, petrochemical and power plants, pipelines and other industrial facilities.

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Speaker 1: Now you might think a company named Team would have

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Speaker 1: that as its ticker symbol as well. No, it doesn't

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Speaker 1: work like that. Another company has that ticker. So Teams

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Speaker 1: is t I s I. Team has been publicly trains

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Speaker 1: this nineteen eighty nine. As of today's close, it's going

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Speaker 1: into SNPs US indexes for the first time. Team is

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Speaker 1: joining the SMP small cap six hundred to replace beauty

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Speaker 1: products maker Hello of Troy, which is moving up to

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Speaker 1: the SMP MidCap four hundred. Now. SMPS indexes are tracked

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Speaker 1: by number of mutual funds and exchange traded funds. So

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Speaker 1: when the stocks which his Teams added, the funds and

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Speaker 1: ets have to buy shares. Now we talk about the

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Speaker 1: index effect as a rule with the SMP five hundred,

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Speaker 1: it also operates for the small cap six hundred. You

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Speaker 1: can see that in a performance of Team Incorporated shares

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Speaker 1: today they climb sixtent It was the biggest one day

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Speaker 1: game since October eleven, and four point nine million shares

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Speaker 1: changed hands. That's thirty three times the average for this

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Speaker 1: stock over the past twelve months. That's quite a move.

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Speaker 1: That's why they're called movers and shakers. Dave Wilson, thank

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Speaker 1: you so very much. He is our stocks editor. I'm

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Speaker 1: Kathleen Hayes. Along with pim Fox. We're taking stock on

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Speaker 1: Bloomberg rad Yeah yeah, coming upon taking stock global bond markets.

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Speaker 1: Qatar has had nine billion dollar bond sale. Couldn't be

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Speaker 1: boosting Saudi Arabius appetite for selling bonds. We'll find out

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Speaker 1: next y