Search. Is it losing its safe haven status . Away from ther close of trading this monday. Lets head to markets desk were julie hyman has the latest. A bit of a sleepy day today. Julie this has been characterizing trading over the past couple of recently as we have seen stocks take a pause after a fiveweek rally. Seeing volume in the s p 500, 34 below the 20 hundred day average. Quite a drop. We already saw a couple of the lowest volume days of the year. That trend is continuing as major averages are little changed. Elsewhere, in other at its, you take a look at the treasury market. The 10year note. We have seen the yield work its way lower. We got a gdp revision higher on friday. We got data not quite as estimated and we will hear from janet yellen speaking tomorrow before the economics. We could get more direction for the market and treasuries. We are seeing the yield go lower. Oil and gold watching as well. We see buying and treasuries, the safe haven buying is not extending to gold, which is trading lower a little bit. A little also off by bit. Not much action there. Alumina ration the treasury market but not as zero in market. Carol so somewhat quiet. General election today, the operations were very strong. It has positive implications for the companys power visit. He see the shares up 1. 5 today. Within media, watching big openings for time warner and disney. Disney, a new shanghai disneyland, which does not open until june. Presales online, a big sellout of those tickets to her time warner having the biggest Opening Weekend for batman versus superman despite the negative reviews. We are watching drug makers today. Gilead is on the rise. A Court Victory against gilead, saying that gileads hepatitis c medication, the roots of that were from a research project. Now, an analyst is saying despite that, the hepatitis b medicine is not enough to compete so those shares and shares of the partner are trading lower today. Whom i rooting for, that manner superman . A tough choice. Thank you so much. Lets get to the news. Mark crumpton is at the news desk and we have got a lot going on. Mark we are covering breaking news. The white house and congress are on lockdown. Following a shooting at the Capitol Visitor Center pair the Associated Press cites officials saying one Capitol Police officer has been shot but not seriously wounded. Local television station tweets that the shooter is down. One capital Police Officer has been shot but not seriously wounded following a shooting at the Capitol Visitor Center in washington, d he at a local television station tweeting the shooter is down to her we will continue to follow this story and we will bring you more developing news as soon as we get it. The governor of georgia says he will veto interrelate a religious exemption bill protecting proponents of samesex marriage, the socalled religious liberty bill triggered a wave of criticism and threats of way cuts from Companies Including disney. Our people everyday work sidebyside, without regard to or theor of their skin, religion their coworker might it hereto. They are trying to make life better for themselves, their families, and their communities. Character. Part to keepo my it that way. Mark the legislation would have allowed Business Owners to invoke their religious beliefs employment, education, and charitable services, giving Legal Protection to evil who object to samesex marriage. Against northd carolinas new antidiscrimination law and they say the law discriminate against transgender people, requiring students to use bathrooms assigned to their biological sex. It also prevents local governments from expanding protection governing general identity. The Supreme Court is is considering whether delaying a prison sentence violates the constitutional right to a speedy trial. Hearing arguments in a case for montana. They waited in jail for 14 months before being sentenced. The court has never before extended the right to a speedy trial to the sentencing stage of the case. Reports of journey use in violation of u. S. Regulations including flying to poke too close to passenger airliners surged. The Aviation Administration says there were an average of four incidences per day. More than five times the amount reported a year earlier. Global news 24 hours a day powered by our 2400 journalists in more than 150 news bureaus around the world. Carol we turn now our focus to housing. Realtors reported today that contracts to purchase previously owned homes kind 3. 5 in the month of february, surpassing the forecasted incoming ceo said the National Brokerage from specializing in real estate. He joins us now in los angeles with more. Nice to have you here with us. Seeing when it comes to the Housing Market . Me onnk you for having the program. All of these keep supporting the felt for someave time the housing recovery and real estate recovery in general which encompasses commercial real estate as well as really sustainable. All the data continues to support that, the february home sales really confirm that. From a monthtomonth data trend perspective, this leads to a Bigger Picture discussion in that real estate is seeing a reversal of roles and during the great financial crisis and the great recession, real estate was front and enter front and center going into the recession. It is now the reverse and real estate is a pillar of strength with a lot of headwinds. Carol i bring it up because i have been talking with individuals in San Francisco, a very hot market and they say theyre seeing signs of mark they were saying prices are seeing some pressure, meaning they are coming down a bit. Are we starting to see pockets of weakness . Classy have to remember residential and commercial real estate over the past four years, we have seen exceptional recovery. The yeartoyear basis were in recovery mode. We are seeing more of a settling toward an active marketplace but at a Slower Growth rate as a National Natural part of transitioning recovery to a cycle. It is all about jobs if you really think about on the consumer side, it starts with jobs creation. San francisco is a great example of a market that has been exceptionally hot over the past two years because of the difficulty to add new supply pure the price appreciation we saw over the past few years is starting to plateau a little bit given the fact that affordability becomes an issue. We will get the monthly jobs report on friday. In terms of particular markets, where are they the strongest right now in terms of nationally rise . Classic you look at where the job creation is and where the supply and demand really favors price gains, you find markets like new york, washington, dc antioxidant of new york being kind of flat because of uncertainty regarding the bostonal situation but for example on the east coast, atlanta with 40,000 plus jobs, is making aflorida big comeback to on the west coast, seattle, the bay area, los angeles and Orange County areas, both are showing contrasts in that l. A. Is now beginning to pick up momentum while Orange County is planning a bit because it do not have the. Ame rate of job creation markets that were hardhit like phoenix and las vegas are just beginning to come out of it. The job leader over the past 12 months is very different than the numbers we have been seeing in houston. Dallas is another market that is holding up well. Carol up about 3. 7 this year. When you look at the commercial side of the market, where he opportunities for investors . The recovery property types, particularly retail and office, are getting a lot of attention. Due to the preference for consumers to rent early in the recovery and therefore prices and rent growth really were led by apartments. In the last 18 months or so, were seeing Office Properties and Retail Shopping centers show up as opportunity investments mainly because the foot traffic is up on the retail side. Instore sales have been stronger than most people expected. On the office side, were seeing another support for economic expansion that is more and more tenants needing additional space. Carol we will leave it on that note. Us incoming ceo talking to about real estate markets. Given my we get an update on housing prices tomorrow. We will have the numbers on bloomberg. Here is an update on breaking news developing of the Capitol Visitor Center in the nations capital. Shot, not officer was seriously. The shooter is in custody. Is a situation we are monitoring closely. We will bring you the latest. Carroll Mark Crumpton is with us for an update on those capitol hill shootings. We will turn things over to mark. One of our Congressional Correspondent is in lockdown on capitol hill right now. Billy, what more can you tell us . Philly we are watching carefully inside the u. S. Cap role where the reports have varied but ambulances pulled up after about 20 minutes of reports of shots fired in what is called the Capitol Visitor Center. Know who might have been injured. We are on lockdown here. Speaker. R a loud people were told to find shelter immediately. What we know now. There were all kinds of reports that one person has been shot. Those have not been verified. We ian ambulance here. We see an ambulance here. Took place roughly, i was sitting at my desk at the capital when an officer came in the exact time of that was 12 13. Mark we are receiving reports that the shooter is down. That was a tweet. Do we have any confirmation that in fact the shooter was shot . Right. Reports. Nconfirmed the house sergeant of arms is putting together now. I am locked inside the building. Inside the press room. We are waiting for the reports to come through official channels. We know there is an ambulance out there and what that means is not certain right now. On the phoneouse with us from capitol hill where he is in lockdown. You again. The story we are hearing multiple media sources and from what the associate Associated Press sites. A shooting at the Capitol Visitor Center in washington, d he d. C. The local television station in washington sending out a tweet that the shooter is down. That is so far all the information we have here we will continue to follow the story. We are waiting for the Capitol Police to hold a News Conference and when they do, we will bring you more developments as soon as we get them. Back to you. Carol it looks like u. S. Capitol officials are saying a shooter is taken into custody. Lets get back to some of the big business stories on monday. Director of pgt partners arrested and charged with the fronting investors in more than 95 million. He allegedly invented and set up false email addresses and misleading domain names. Company aree plunging on the news. I can see them down about 11 as we speak. Lets get more on the story. Tell us more. These are allegations. It is securities and wire fraud brought by the u. S. Attorney here in new york and by this 30s and exchange commission. It is serious and very unusual. Beginning sometime back in the some kindlast year, of fake Investment Opportunity was created. Marketing them as individuals in except that is not what he was doing her the money was going to this account as it turned out. That money dwindled to near nothing. He is interesting and his father is interest in the firm is interesting. Tell us a little bit about that. The firm was spotted from blackstone last year. Again, it is an unusual situation here. How this could have gone on and how long it has gone on, we do not quite know yet it at least back to the middle of last year, he was working on the scheme. Meant mentioned his name and his father. A man from a wellrespected family. His father died. It was a rather tragic death around 2009, a suicide. He was suffering from cancer. At the same time, they went the Funeral Service because he was the subject of a tax evasion investigation. It wast know how actually resolved at the time, but at the time they were looking into it and his sons all went to harvard law. We are trying to determine how that was eventually resolved. He ran a Large Company and was very active in new jersey politics. A really wellknown and wellrespected figure and all of that appeared what happened, i do not want to much of how it was resolved. Carol it is another developing story. I wondered how they would get their money back. What andrew did his he took it and they made failed options trades and they lost a lot of money. I presume he has other asset. Next question, he said to be in court in the afternoon. We will look and see if he will go after any other assets. We will go after what his defense is. Its like he thinks initially, maybe he did what was fully disclosed. We have to hear from his lawyer as well. Just one hedge fund, a single hedge fund. Carol unbelievable story. Thank you so much. As we head to a break, we are monitoring breaking news at a shooting on capitol hill according to reports, the shooter has been taken into custody and we will bring updates. Nationals m the the nation capital this afternoon, a situation that continues to unfold. Youre listening to bloomberg market. Jim, joining me today is strategist at mk am holding spear we were talking during a break and i was talking all day about how we have seen a lower than average volume. It appears to be a vacation week for a lot of people but it feels a little unusual. Options volume is also down as you would imagine. About 9 million printed today. You go back to new years 2015 to see similar levels. Earnings will start coming in. Fomc not until the very end of april. It is slow but curiously so at the same time. Julie Something Else curious is the vix is up your thoughts are doing nothing. You would think the vix is doing the same but it is not up that much. It is unusual for it to be higher on the day. Classic great opportunity to make the point that it is priced off of s p options. We look at s p term structure out six months, it is listed relative to last week. The graph we have shown recently as the spread that had opened up between spot fix and the front future. It was high. I would not read too much into it. I think it is just getting back in line with its historical name. Turn to a specific stock where we might see some action. Next week, it will be holding analyst day. You think it will be a positive catalyst. Amonghis favorite name the semiconductor stocks. Two catalysts coming up. One next week. He thinks that will be positive. But there is an inflection in the Business Model where the war business sale of graphic ancessing units is really inflection. Facebook and google both had conferences recently where they talked about Machine Learning for cloud applications and they will play a significant role in that. A little bit of talk around this market. Increasing could help them. Earnings will come in early may. Put those two together and even though it is a stock that has done incredibly well and is up 40 just since early february, we still like it and see upside. We will go out to june by 30 one call spreads, pay about dollar 30 four that appeared inexpensive way to get along and directional exposure. Carol thank you. We want to update you. There was a shooting at the capital business center. There are reports according to the Associated Press that one shooter is in cost to the at this time. That seems to be the latest. Great time for a shiny floor wax, no . Not if you just put the finishing touches on your latest masterpiece. Timings important. Comcast business knows that. Thats why you can schedule an installation at a time that works for you. Even late at night, or on the weekend, if thats what you need. Because you have enough to worry about. I did not see that coming. Dont deal with disruptions. Get Better Internet installed on your schedule. Comcast business. Built for business. From bloomberg world headquarters, im carol massar. Lets get to our first word news. Mark crumpton is at the news desk. Mark the use of much. Lets update a new story that weve been following for the past halfhour or so. U. S. Capital was shot u. S. Capitol Police Officer were shot at the capitol visitors complex. The shooter was taken into custody according to officials and police. The officer who was shot is to be not believed seriously injured. The event unfolded with congress on resources and recess and lawmakers back in their district. It happened in the Visitor Center of the sprawling complex. Staffers and others were told to shelter in not allowed to be their offices. The Capitol Visitors Center in the white house are now allowing visitors to leave. We will of course continue to follow the story. We are expecting some sort of press conference from capital and metro d. C. Police and as soon as we get more information we will of course bring that to you. Donald trump is planning his First Campaign visit to wisconsin on tuesday. In the meantime, senator ted cruz is positioning himself to win the state when residents about one week from tomorrow. It will be the first primary since senator cruz began getting support from establishment republicans, including jeb bush. As for delegates, mr. Trump has 739, mr. Cruz has 435. John kasich has 143. On the democratic side, Bernie Sanders has raised more than 4 million since sweeping caucuses in washington state, hawaii, and alaska on saturday. Is Spokesman Says that it one of his