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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 Globo lact and on your radio.

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Speaker 1: This is a Bloomberg Business Flash and as a closing

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Speaker 1: bell sounds an industrial leverage of two hundred eighty one

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Speaker 1: points one point six percent at seventeen thousand, six nine.

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Speaker 1: SMP five undered at thirty four points one point seven

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Speaker 1: percent to two thousand seventy then as DAC is sired

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Speaker 1: by eighty seven points one, trading at forty seven seventy nine.

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Speaker 1: Well Wall Street extended yesterday's games, recovering from the two

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Speaker 1: days sell off following the UK vo to withdraw from

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Speaker 1: the European Union. There's continued speculation that central bankers will

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Speaker 1: counter the Brexit impact. Todd Horror, What's Chief Strategistic Bob

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Speaker 1: Trading dot com says Brexit turns out to be much

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Speaker 1: ado about nothing. I think the Brexit of the way

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Speaker 1: over dawn, and I think if you look back at

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Speaker 1: the market, you'll see that we rallied all the way

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Speaker 1: into the announcement, and when we were done, we were

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Speaker 1: right back to where we started. Sex is Enemedia crude

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Speaker 1: oil up a dollar forty two right now three percent

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Speaker 1: trading at gold up two dollars eighty cents ATV and

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Speaker 1: the tenure treasury is down at twelve thirty seconds with

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Speaker 1: the yield of one point five zero percent. Among today's

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Speaker 1: top business stories, GE Capital is no longer too Big

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Speaker 1: to Fail. Gees financing unit has one approval from Frederick

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Speaker 1: regulators to drop his designation as a systemically important financial institution.

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Speaker 1: It frees GE from stricter regulatory oversight. The move marks

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Speaker 1: of victory for GE, which is sold almost two hundred

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Speaker 1: billion dollars of finance assets, with the goal of removing

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Speaker 1: that designation. UBS Group has announced a sweeping overhaul of

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Speaker 1: the leadership in its investment banking unit. Three senior executives

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Speaker 1: in the division are leaving. Consumer spending rose last month

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Speaker 1: after its biggest advance since two thousand nine. Households realign

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Speaker 1: their purchases with slower income growth. The Commerce Department reported

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Speaker 1: personal spending climbed for tens of a percent in May.

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Speaker 1: The saving rate fell to five point three per sent

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Speaker 1: the lois this year, and one measure of home sales

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Speaker 1: cooled in May. The National Association of Realtors says it's

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Speaker 1: pending Home Sales index which measures sales at the time

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Speaker 1: of contract signings, is down three point seven the most

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Speaker 1: in six years. And now let's get an update of

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Speaker 1: some of the other stories we're following today on Bloomberg Radio.

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Speaker 1: Thank you, Catherine from the Bloomberg Newsroom. I'm Jill Schneider.

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Speaker 1: The leaders of North America are holding a news conference

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Speaker 1: at this hour in the Canadian capital for the first time.

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Speaker 1: Canadian Prime Minister Justin Trudeau is hosting President Obama and

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Speaker 1: Mexican President Enrique Peina Nieto in Ottawa for the North

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Speaker 1: American Leaders Summit. President Obama opened his remarks with a

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Speaker 1: comment about the attack on an Istanbul airport. The prayers

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Speaker 1: of the American people are with the people of Turkey,

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Speaker 1: the people of a stan Bull and all those who

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Speaker 1: are affected by this terrible crime. We have offered all

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Speaker 1: assistance that we have available to our allied Turkey, and

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Speaker 1: we stand prepared to assist them during this difficult European

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Speaker 1: Union leaders are calling for an orderly British withdrawal. The

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Speaker 1: goal is to minimize instability, as they pledged to learn

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Speaker 1: the lessons from the UK's political earthquake. This after the

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Speaker 1: EU government chiefs took the historic step of meeting without

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Speaker 1: the UK for the first time. Jean claud Yunker is

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Speaker 1: President of the European Commission. To be speed up. We

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Speaker 1: don't have months to meditate. Despite the bregsit vote, U

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Speaker 1: S Secretary of State John Kerry says Britain may never

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Speaker 1: leave the European Union. Kerry told the Aspen Ideas Festival

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Speaker 1: that London is in no hurry to go. The Secretary

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Speaker 1: also told the Guardian newspaper that there are a number

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Speaker 1: of ways the move could be quote walked back. New

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Speaker 1: York City's newest park was unveiled today. Liberty Park overlooks

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Speaker 1: the nine eleven Memorial. The fifty million dollar park sits

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Speaker 1: on a site once occupied by the Deutsche Bank building,

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Speaker 1: and it overlooks the original footprints of the World Trade Center.

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Speaker 1: Global News twenty four hours a day, powered by more

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Speaker 1: than journalists and analysts in more than one twenty countries

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Speaker 1: from the Bloomberg Newsroom. I'm Jill Schneider. This is Bloomberg, Katherine,

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Speaker 1: thank you, and a let's get an update of the

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Speaker 1: benchmarks as they begin to settle down. Industrial average up

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Speaker 1: two hundred eighty four points to seventeen thousand, six d

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Speaker 1: ninety four, SMP five founded up thirty five points to

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Speaker 1: two thousand seventy NAZAC hire by eighty seven points at

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Speaker 1: forty seven seventy nine. Bloomberg Taking Stock is brought to

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Speaker 1: you by Hartford Funds Human Centric Investing in site number five.

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Speaker 1: These days, as a financial advisor, your competition may not

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Speaker 1: be other advisors. It could be blogs, hyperlinks and tweets.

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Speaker 1: To find out why, go to Human Centric Investing dot com,

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Speaker 1: Hartford Funds and Distributors l l C. And that's the

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Speaker 1: Bloomberg business Flight wover mtubration. I feel Earth move on.

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Speaker 1: You moved like they do. I've never seen anyone move

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Speaker 1: that back fired. People's move to a purpose. Something's called

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Speaker 1: movers and shakers. They cost a little more. That name

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

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Speaker 1: Pim Fox and Kathleen As on Bloomberg Radio. Coming two

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Speaker 1: days of post brexit sell off, now two days of rebound.

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Speaker 1: The SMP five hundred closing up one point seven definitely

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Speaker 1: a vote from the market to move the major market

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Speaker 1: indexes higher. We look inside the SMP five hundred hundred

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Speaker 1: seventies seven companies saw their share prices closing higher only

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Speaker 1: twenty seven lower one unchanged. Dave Wilson are stock Citor

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Speaker 1: is back to kick off movers and shakers they know

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Speaker 1: among the ten Maine industry groups in the SMP five

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Speaker 1: hundred financial companies where the best performers. Within the next

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Speaker 1: half hour, we'll have the results from the Federal Reserve,

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Speaker 1: the second release of data from their stress tests on

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Speaker 1: the ben banks and uh as well as the easing

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Speaker 1: of the Brexit related concerns are out there. These stress

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Speaker 1: test results may clear the way for many banks to

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Speaker 1: raise dividends and increase their stock by brack programs. And

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Speaker 1: then you look at the biggest banks. You see they

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Speaker 1: had quite the day. Bank of America three point nine percent,

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Speaker 1: City Group up four point two percent, j JP, Morgan

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Speaker 1: Chase up two point eight percent. In today's trading, a

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Speaker 1: lot less stress and GE now after it's no longer

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Speaker 1: designated a city by financial regulators a systemically important financial institution.

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Speaker 1: UH it's GE capital unit is down to about ten

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Speaker 1: percent of the company's business. It had been half at

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Speaker 1: one time. As Rick Cleugh from Bloomberg News set on

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Speaker 1: our show just about half an hour ago. G E,

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Speaker 1: in fact, is no longer too big to fail. All

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Speaker 1: it took was the most sweeping transformation in the companies

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Speaker 1: one d twenty four year history. Rick writes in a

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Speaker 1: story today, Uh, this decision freeze ge from strict oversight

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Speaker 1: higher capital requirements. And it's a big victory for Jeff

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Speaker 1: mL the CEO, who really had to reverse all that

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Speaker 1: that building up of the capital lending arm that was

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Speaker 1: done under CEO Jack Welch, and investors agreed today. G

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Speaker 1: E stock up two percent at thirty dollars and fifty

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Speaker 1: five cents at the close. Big day for disk drive

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Speaker 1: makers Seagate Technology especially Uh. Their estimate of the second

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Speaker 1: quarter market for the devices may surpass its forecast by

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Speaker 1: about nine that's according to RBC Capital Markets, and they're

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Speaker 1: citing increased demand for personal computers. See Gate shares up

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Speaker 1: six point three percent today's trading, and rival Western Digital

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Speaker 1: not doing half bad either, those shares of four point

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Speaker 1: six percent. Well, let's take a look at Nike now

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Speaker 1: up three point eight percent in the close fifty five

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Speaker 1: dollars and change. And remember, uh, this is a major reversal.

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Speaker 1: Nike plunged as much as seven percent and after ours

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Speaker 1: trading yesterday, when the company announced sluggish results its future's

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Speaker 1: orders I'm missing analysts estimate at up eleven percent versus

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Speaker 1: in estimated thirteen percent. But today investors appear willing to

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Speaker 1: give Nike a free pass after the mixed quarter they

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Speaker 1: reported on. Instead, they're focusing on the next twelve months,

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Speaker 1: where a Nike on a call with analyst did its

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Speaker 1: best to stoke confidence amongst skittish investors, projecting sales that

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Speaker 1: would increase by a high single digit percentage. Dave, Nike's

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Speaker 1: based out in the Pacific Northwest where you're from, yesh, Yes,

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Speaker 1: and they had a big day today. The timberland owner

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Speaker 1: and forced products maker was raised to buy from Neutral

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Speaker 1: A d A. Davidson, which said it will be well

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Speaker 1: insulated from what it called outside noise related to the

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Speaker 1: UK's decision to leave the European Union. Now where Hazard

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Speaker 1: shares up four point eight percent today. Between today and yesterday,

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Speaker 1: they've recouped almost all of their losses that followed that

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Speaker 1: Brexit vote just one more day. Quickly, South Southwestern Energy

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Speaker 1: down for the third time in four days after it

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Speaker 1: said it would sell shares to reduce debts. So even

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Speaker 1: when you're doing the right thing. I guess it doesn't

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Speaker 1: always help your share price. The Southwestern down more than

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Speaker 1: six percent today at the close. Now it is time

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Speaker 1: for the Volatility Index Report and it is brought to

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Speaker 1: you by CBOAVE ex Options and Futures. Volatility can be

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Speaker 1: harnessed with CBOAVE ex options and futures, so see disclosures

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Speaker 1: learn more at cbo e dot com. Slash powerful outcomes

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Speaker 1: a VIX. Well, the outcome not so powerful today for

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Speaker 1: the VIX down for a third day. Uh, it's down

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Speaker 1: one point one, only two points at sixteen point eight

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Speaker 1: nine is again about teen per cent, as I said,

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Speaker 1: and that's it's on track for its lowest level since

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Speaker 1: June nine. Alright, Dave, you're up. Hi, My name is Dave.

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Speaker 1: Just what do you think you're doing today? We're going

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Speaker 1: for a britbound welcome went on the fourth day. It

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Speaker 1: seems that a lot of companies that got hit by

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Speaker 1: the Brexit vote, Dava, if you were thinking about it,

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Speaker 1: could be ripe for a rebound. You're taking a look

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Speaker 1: at Universe, that's right. You can put them in the

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Speaker 1: same category as warehouses, which I just mentioned. Uh, very

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Speaker 1: different business. Universe provides workplace uniforms. Nonetheless, a similar kind

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Speaker 1: of rebound uh from the losses that followed the UK's

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Speaker 1: decision to leave the European Union. Now, univers operates across

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Speaker 1: North America and Europe, although it's financial reports don't break

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Speaker 1: out European results. Company was founded eighty years ago when

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Speaker 1: I converted Hot Horse Barn in Boston, and is now

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Speaker 1: based in the suburb of Wilmington's, Massachusetts. No doubt will

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Speaker 1: be familiar to our buston listeners. Universe shares are listed

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Speaker 1: under the ticker you and F. They dropped about seven

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Speaker 1: and a half percent in the first two trading days

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Speaker 1: that followed the Brexit results. Universe slipped another seven tents

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Speaker 1: repercent yesterday, then the stock game roaring back thanks to

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Speaker 1: favorable results for the fiscal third quarter. Company reported ernie's

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Speaker 1: and revenue that beat analysts average estimates in the Bloomberg

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Speaker 1: survey and also raised its full year sales forecast. UNI

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Speaker 1: first traded at its highest price in fourteen months in

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Speaker 1: the wake of those results, and the stock closed with

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Speaker 1: a gain of nine the biggest in four years, really

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Speaker 1: quickly tomorrow today. What is this action? Two days down,

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Speaker 1: two days up what happens tomorrow with stocks? What's gonna

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Speaker 1: drive it? Well, what it comes down to is tomorrow

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Speaker 1: is the end of the quarter. Is this something where

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Speaker 1: investors are gonna want to get in and take advantage

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Speaker 1: of the recovery or do they wait until we moved

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Speaker 1: to the second half and maybe after the fourth of

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Speaker 1: July holiday, so that that will certainly be part of

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Speaker 1: the mix and tomorrow's trading. Stay Wilson, thank you so

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Speaker 1: very much. Our stocks editor joining me for Movers and

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Speaker 1: Shakers and his Stock of the Day. I'm Kathleen Hayes,

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Speaker 1: PIM Fox on vacation this week, and this is taking

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Speaker 1: Stock on Blue Brig Radio Bloomberg. Taking Stock is brought

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Speaker 1: to you by Willoughby's, since New York City's boutique camera

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Speaker 1: plus a full selection of go pro action adventure cameras.

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Speaker 1: Willoughby's at the corner of Fifth Avenue and thirty first Street,