What lessons are there for other companies . We are one hour from the close of trading. Lets go to julie hyman with the latest. Julie i wanted to mention a headline on consumer borrowing. Fastestin march at the pace since november 2001. 29. 7 billion. Os and credit autio card debt going up. All three major averages rising to the heights of the session. Take a look at the trajectory of the s p 500. It has been all over the place. Futures, andine in then we had stocks bouncing around for much of the session, going green around 2 00 p. M. The dow was the first to make that move. To weigh whatng exactly the jobs report means and it looks like not really coming up with a unanimous decision. If you look at what is contributing to gains right now, youve got amazon bouncing back from some declines to past few days. Facebook rising and alphabet. Also if you look on the flipside, what is dragging the most, weve got apple going down. It has been almost a straight down the line going back several weeks for apple. Walgreensalling and as a. Aer to commodities, weve got gain in oil prices. Fires in canada are cutting production. For the dollar and the 10year, you would think we would have some Significant Movement and yet here there has been a shrug or confusion from thiss morning. The dollar is up slightly. The fact they are going in the same direction has not been that common lately. They have been diverging. Vonnie the dollar has been baffling. Companies, they held on to their direction. Julie yes, Company Specific news has been steady. Companies have been rising consistently, hurt and elmer beating estimates, activision blizzard, that videogame company, and a mixed report but analysts say because it is increasing its hiring, the company has a better outlook. Has beenwnside, endo the big loser, cutting its forecast and plunging 41 . As i mentioned, many of the other drugmakers along with it. Fluor also coming in below estimates. Vonnie we will check back in a little bit. , morek of the headlines from our newsroom. Police in montgomery county, maryland have a suspect in custody in a series of shootings in the area. As auspect is identified 62 old who was captured in the aspen hill area. The first shooting occurred thursday at a high school. The second was that a mall parking lot and the third was a Fatal Shooting 30 minutes later at a shopping center. Checking to see if he is linked to all three cases. President obama says donald trump has a long record the needs to be examined and also said you have not offered serious proposals for dealing with the economy and national security. To emphasize this is a serious job. This is not entertainment. This is not a reality show. Contest for the presidency of the United States. What that means is that every candidate, every nominee, needs to be subject to exacting and genuine scrutiny. Obama said he will not make an endorsed that until the primary process plays itself out. Candidates work to unify the party for the general election. That also means rinse previous is breaking with paul ryan who said he is not ready to backtrack. He does say he disagrees with the ideas like ending muslims form from entering the u. S. They will meet with trump thursday morning. Kenneth feinberg has rejected a plan to rescue the Central States pension fund, which ford have cut benefits union members. Central state is one of the biggest multi Employer Pension Fund which pays 2. 8 billion in benefits. Cuts, it will be out of money by the year 2026. Global news 24 hours a day powered by our journalists around the world. Vonnie thank you. Now to the markets. Hasies over chinas economy helped drive investors away from stocks. Emerging market shares among the hardest hit. Take a look at the emerging market index. Its worst fiveday stretch since january. I want to bring in benjamin. Jpmorgan out with a very sad to note, pointing the First Quarter this year was a difficult quarter as it was last year and the year before. The difference was it was sandwiched between equally if a cult quarters difficult quarters. U. S. Economy the would grow 2 and we got. 6 for the First Quarter. We have a list of reasons why we should be worried and why we should not be worried about it. First of all, notwithstanding the report this morning, the labor market is trending and is solid. Financial conditions have improved. There is an issue of seasonality where the pattern over the followed by aeen strong second quarter. When we aggregate that, we see the economy starting to drift and we are seeing evidence of that. Vonnie are you sensing a dent in Client Sentiment . Sentiment among investors has been a challenge this entire expansion. We see a Global Economy and the moving, ity which is is a very flat, disappointing cycle, translating into modest to positive growth rates. That is not a lot to get excited about. When we look at Something Like movingverything is sideways. We like assets with more carryover capital gains, credit over equities. That is a reflection of that modest trajectory of the economy. This shows what youre talking about, the paralysis we have been noticing. We can look at that later on. You said you prefer credit. What about that . Where in the world are you looking to play those plays . Across amandel multiasset portfolio, you can think about it is credit, high yield, which we are overweight in the u. S. And europe. It you can think about it in terms of, fixed income. Those are markets like the u. S. Treasuries, australian bonds versus german and canadian bonds. Everything is moving sideways, you have to look for ways to capture that differential. Vonnie are you looking at corporates . Even at thesel valuations, you are looking at reasonable expectations of singledigit returns, total returns, so even though things spreads have, tightened, valuations have changed, youre looking at those returns. That is within shouting distance of what you would expect. That is ok. Vonnie we were showing our it has been difficult. I guess it is always difficult for emerging markets somewhere in the world. Poland and turkey are getting hit hard. Where are you looking internationally . Benjamin mandel a lot of it is driven by the fact china has definitely been in a period of short run, cyclical impetus. Inre has been some impulse the chinese economy german by the Property Market and policy that has been active. Where, the way we look at that, as one of several upswings that have punctuated a disappointing downward chinese growth trajectory. We do not see that lasting very long. We see that in the second quarter. A disappointing week for equities, it might be more disappointing once the short run phenomenon in china receipts. Vonnie julie hyman was speaking about the u. S. Dollar. Where is that headed . , ajamin mandel a lot of it lot of the run up in the dollar last year was coming from a policy divergent story between the fed versus europe and japan. Of we have reached a point stasis in Monetary Policy where the fed has not moved. We expected them to move in september, but the risk is not that they will go sooner. We have japan also kind of sitting back and not doing much, despite a week cyclical story. That is a recipe for the dollar to continue softening in the near term. Vonnie some breaking news, charger has one approval to buy Time Warner Cable. That deal is finally going through. Charter and time warner merger approved. This had been telegraphed, right, julie hyman . We knew this was going to go through. We had to wait for the announcement. It wasyes, we reported likely. The last one was in california. Again, it is formalized we have and time warner, this approval. If you take a look how the stocks are trading, they are taking a little bit of a leg up, as you can see. Not much change from where they were trading before because, as you say, it was expected. Vonnie it is a fascinating decision when we have seen other mergers not go through. We will continue to follow that story as it progresses. Ar thanks to benjamin mandel, global strategist at j. P. Morgan, for joining us. More next Bloomberg Markets on. Some breaking news this friday afternoon. Chartertime warner merger has been approved. That was announced. Charter and Time Warner Cable merging. California does still have to vote. That does not scupper any kind of deal. Stocks are little changed, mostly priced in. All right, a little turning to another deal, a deal might have for sour, fairway planning bankruptcy protection. It went public in 2013 with plans to expand beyond the city of new york. It faced competition and a heavy debt load as shares plunged from 13 to . 25. 500 million of equity was wiped out. What does it say about the state of ipos . Really the fault of the ipo, this bankruptcy . Some of the people say yes that is because of fairway went hugethis in 2013 with promises for equity investors. They had 12 stores at the time and they came out and said we have the potential for 300 stores. That is 2400 percent increase. They came out guns blazing and some of the people said they set these really High Expectations for themselves. They overpromised and they did not deliver and some of that push for them forced them to open stores that were too close to other locations. Potentially they missed out on some of the Industry Trends and did not square up with the competition. The need to perform potentially posted them too far outside of what they should have been doing. That sounds like bad management decisions, not necessarily because the company was public. Are you saying they had to expand quickly . Alex a little bit. Management are the ones who set the expectations. They said this is what were going to do and they really could not get there. There were some other external factors, the redhook location in brooklyn makes a lot of money for them. That was shut down your Hurricane Sandy for 16 winks weeks. Its an interesting case for these companies that are considering going public saying, be realistic, set ideas that you can execute when youre selling your story to investors so you can play them out eventually. Vonnie the other ingredient was private equity. What role did it play in the ipo and subsequently in the decision . Fruitfairway started as a and veggie stand in the 1900s. Fastforward 70 years, Investment Partners came in and invested 90 million in the company and took it public. They made back most of the 90 Million Investment in dividends and from the ipo, and they were made in fees. Sterling partners did kind of push them, you have three board privatefor most of the equity firm, and when you think you thinke sponsors, about them as advising the company, which is what sterling said they did, and helping them operate. Some of the onus definitely has to go to Sterling Partners saying, you said you were going to help this Family Business expand. Where were you . Them whenyou telling they were having ideas that were too big for their britches . Vonnie what about debtholders . It feels like a very sad story. People were attached to their fairways outings. You have to wonder, why it couldnt just be made to work. Talk about the debtholders. Alex it took on a lot of debt. That has been the linchpin. They have filed, they are looking to the court for protection. A lot of the debtholders will get paid back through this bankruptcy deal. They were going into it expecting the money they were putting in would turn around for growth and they would be paid out. Ones, they to be the are being made whole, to a certain extent, but the equity have lost 500 million in value in stock. Story thank you for that of the failure of fairway and potential lessons to anyone thinking about going public. Might be able to learn from this story. Todays options insight, here is a check on some of the stocks today. Bank of america up. 4 . Copper up 5 today. By now we know the story of endo health solutions, dropping 40 today. Check it speak Energy Chesapeake Energy down about 10 . Joining me for todays options insight is the author and founder of a website and he joins me from chicago. Been a weird day. We got this jobs report and we have seen a lot of jumping around in the markets in stocks, bonds, the dollar. Is it that people are confused about the takeaway . No, i dont think so. It is clear and it is a symptom of what has been going on for a while. Right now the fed is watching the unemployment figures every month really closely. Traders are trading based on what the fed is going to do. Almost been in a range since august, coming up on nine months, and it is all about what the fed is going to do. This year all the talk was it was going to be three rate hikes and now at least by my estimation, i bet they will be one. Julie and nothing in the jobs report dissuaded you from that. An no, i dont think so even before i was thinking there could be one or two. Conservative, in my view. In my view. September there is a chance there could be a rate hike. I dont think there will be one in june. Julie the trade youre looking at has to do with the etf. Walk me through what youre doing. This is sort of based on my volatile are in a range bound market. The proof is in the pudding with the announcement and how the market reacted. When we get to 200, that is when off andthe fed back the market rallies. One may 20 selling about aon, 202 put, dollar is where we can sell that. Oute how does that play in the coming weeks . Dan im selling somebody the right to sell the stock to me at 202 a share. Spy is trading below that, that is simple, the person i sold that too, they are going to exercise it and im going to buy shares of that etf. I collected a dollar on this could also so my Purchase Price is 201, and im happy about that in the long run. Julie weve got to leave it there. Have a great weekend. Good to talk to you, especially on a day like today. We will be right back. Vonnie from bloomberg world headquarters, youre watching Bloomberg Markets, check this afternoon, we have more from the newsroom. At first we had the first president ial politics, Bernie Sanders is fighting rules over the summer convention. He is concerned the Democratic National committee will stack the committees are Hillary Clinton supporters. Many of his own supporters have not but included in that process. Treasury secretary jack lou will go to puerto rico on monday. He has said Puerto Rico May need a u. S. Government bailout if congress does not act. Lou called on lawmakers to pass a bill to help the island prevent a series of cascading defaults. It comes after puerto rico missed a deadline for 422 million bond payment. Now, france will host a meeting of 10 countries over the significance in syria next week. Foreign ministers will be on hand, the head of the western backed Syrian Opposition will also take part. And north korea has begun its first full meeting of the Ruling Workers Party in 36 years. Power kim to solidify over the country. Little is known what he plans to do at that congress, but kim may focus on Economic Growth as well as military strength. The news 24 hours a day powered by our 2,400 journalists in 150 news but rears around the world. Back to you. Vonnie live at the nasdaq with a live look at what has been a down week for the nasdaq. Mild volatility. We have had the nasdaq down mainly on the day, higher for the second time after the indexs biggest member apple has recovered off of the lows. As you mentioned, we have the nasdaq down on the week by about 1 , down three weeks in a vonnie since january 13. The worst performer, endo international, the stock is down more than 40 hitting an 18year low after the Specialty Pharmaceutical Company had a 2016 outlook below estimates. The profit range has been slashed by as much as 27 as the companys legacy generic business underperforms. Lots of bear street reaction including kaufman who cut her rating to underperformed and slashed her target from 69 to 13 suggesting that the stock that is broken by the sellers already could trade down even more. Vonnie any other notable underperformers, abigail . Shares of tesla will down 10 on the week and down three weeks in a row after the Company Posted a mainly inline First Quarter, what could be going on here, tesla did set the goal to produce 500,000 vehicles per year starting in 2018. Some may view this as rather ambitious considering the company produced slightly more than 50,000 vehicles last year. So really big growth trajectory there. So some investors may be focusing on the companys high cash burn, increasing debt and some view as production issues. This has taken the stock below its 200day moving average, fairly bearish the last few times it has happened. Vonnie its always a storied stock. Thank you so much Abigail Doolittle at the nasdaq owl week for us. Is a june rate hike out that many economists and managers this morning shortly after the government reported 160,000 new jobs were added last month. Now, the fed would be wise to Pay Attention to markets, here he is with bloombergs tom kean and michael mckee. Much depends on the starting, the fed and central markets, the fed is a global central banker fixated on stock prices and equity prices that spreads into the extent that the stock market holds, im not so sure that june is out. I mean, we have heard from stan fisher, we have heard from williams in San Francisco and they all seem to get it. They all seem to know that at some point they should be raising Interest Rates in order to preserve asemblance of profitability for safers and Insurance