Nearly 200 points. The dow, which was the worst performer yesterday, has been leading gains today. Value across the board, a broadbased rally. Materials and Energy Leading as we have underlying commodities rallying. Industrials, financials, consumer discretionary, technology, all those groups up by at least 1 in todays session. If you look at energy stocks, some of the percentage standards, crude oil up by more than 2 . Concerns about supply disruptions in libya and nigeria. Thehwestern is one of biggest percentage gains today. Financials are doing well. They are raising as we see little bit of a bump up in treasuries to not a big one, but enough to see an upsurge in the financials. Bank of america leading percentagewise. Broadbased rallies. Any hidden movers . Julie agriculture. Alix steel would not say they are hidden, because she was excited about the usda Crop Forecast for the globe. The indication is that the global glut will not be as bad as feared. , potash, agrithem all trading higher, along with wheat, corn, and soybeans. And some other beveragerelated movers. Stream shares surging after their earnings came out ahead of analyst estimates. Revenue beating estimates. Must turn monster beverage selling some new shares. Interesting. A gain on that. Pepsico shares are at a record today. Drink it, i guess. David julie hyman, thank you very much. Now lets check on the bloomberg first world news. Mark Hillary Clinton leads Bernie Sanders nationally, but in a hypothetical matchup trump, theald vermont senator fares better. That is according to the latest nbc News Survey Monkey poll. By 13s leads trump points. Mrs. Clinton leads mr. Trump and a head to head match it, but the race is much closer to john kasich still on the list of top choice is to become Donald Trumps running mate, even though the Ohio Governor and former republic president ial candidate continues to express no enthusiasm for the job. Trump poses staffers have checked kasichs interest in being on the ticket. Will become the first sitting american president to visit one of the cities where the u. S. Dropped an atomic bomb here the white house says the president will travel to hiroshima while on a trip to japan. In the past, there has been concern that a president ial visit would suggest the u. S. Is apologizing for dropping the bomb. It is said that you can pose a Prime Minister may consider a similar visit to pearl harbor. Several demonstrations against the impeachment of president Dilma Rousseff blocked highways and roads across brazil today. In sao paulo, tires were set on fire near a highway that leads to the airport. Late last night, the acting leader of the lower house of aazils congress reversed decision that would have an old a key vote in the impeachment process against president dousseff would have annulle a key vote president rousseff is accused of illegally using state banks to lug a hole in the budget. 24 hours a day powered by our 2400 journalists in more than 150 news bureaus around the world. Im mark crumpton. Back to you or david concerns about economic growth, that it is slowing him a continuing traffic markets. I outflows of about 1. 3 billion last week. Bank of America Merrill lynch has the longest uninterrupted 2008. G streak since you are looking at cumulative outflows year to date. My next guest remains bullish. Joe bell joins us from cincinnati, a senior equity manager. Talk about why you are feeling as optimistic as you are right now. Main reasons is exactly that sentiment, one of the hallmarks of able market is generally climbing the wall. How low to how high or it is set for the market. When you look at the u. S. Stock market, it is up near alltime ofhs only about 3. 5 percent 50 twoweek highs. But there is still skepticism. A survey shows that u. S. Equity Fund Managers were underweight, near the lowest levels in eight years. Overall, we think negative sentiment combined with the pricesicture of strengths, that historically has been a bullish combination. David i know you are looking at the 2100 number, one of great psychological importance. Why is that so important to you . as you mentioned, during the past 13 months, or 13 months ago, the u. S. Stock market reached a new high. At that time, it was any other level, 2100. Since then, it has reached a ceiling at that level 13 separate times. Eight separate times. If we rally back up to this in the next couple weeks, we could see the ninth time. The more times we hit that level and then fall off and keep getting near that level, if and when we break that level, perhaps the buying will be pretty explosive to bring now, were seeing selling pressure. Once it is broken, perhaps the floodgates will be open and we will see a breakout, a historical pattern you see. Bloombergre seeing commodities index rebound from the biggest drop in six weeks. Is that what will break it . Joe we will see. That is one of the more interesting factors. You mentioned the u. S. Dollar has been on a very strong run the past week or so. That has put a little bit of a halt to the energies, materials, industrials. Those have led the past several months. The u. S. Dollar strength the past week has led to weakness the past couple weeks. During this pullback today, a broadbased rally, u. S. Dollar rally, flat, a little bit negative today, that will benefit those stocks and sectors. If you look at last years, some utilities, were seeing broadbased leadership. It is hard to say which individual sector will lead when you look at staples and utilities, still alltime highs. Energy rallying. Perhaps that u. S. Dollar can rollback over. We will seek per dissipation, but right now, it is broadbased. David what are you particularly bullish on right now . View companies i like. Xs, technology, ct company. Weakness inmarket past couple weeks, one stock has retraced and filled a bullish gap, coming back to a round number. Technically, it is a strong up. Short sellers target the name. I like progressive insurance, pgr. Strong financials, improving fundamentals that are little bit better than expectations. Strong price action, but we continue to see negative sentiment to it i think that is fuel for a strong rally. David what is your read on earnings season . You look at the pure numbers, it is not good. Passwe look back to the four quarters, this will be four consecutive quarters of negative yearoveryear earningspershare growth for s p 500 companies. You have to go back to the Fourth Quarter of 2008 through the Third Quarter of 2009, where. E saw similar poor performance one thing to keep in mind is the fact that the stock market is a forwardlooking mechanism. When you look back, during that timeframe, that is when the market is carving out the bottom. Even 12 months after the four consecutive negative Earnings Seasons in 2009, the market was able to trend higher more than 10 the following 12 months. That is kind of how we find ourselves from an earnings season for mental perspective. It is not always negative. Sometimes it can enhance negative sentiment towards this market and when it ultimately breaks out, you can see higher prices in the coming months. David what is the biggest thing you think bears are wrong about in this market right now . Joe the big call i have seen the past week or so is a lot of people calling for the u. S. Ollar bottom i saw a lot of sediment talking about that leading to the energy and commodity levels rolling over. It is probably a critical level, looking at the u. S. Dollar. If it breaks down, it will be strong for the company. A lot of people calling for the energy and commodities levels to rollback over. A key thing. I see a lot of sentiment that is bullish on the u. S. Dollar. Perhaps a rollover will help some of it, specifically the ones people are bearish on right now. You foroe bell, thank joining us from cincinnati. Coming up in the next 20 minutes anBloomberg Markets, not easy quarter for easyjet, but sinksrolyn mccall brighter skies are head. She will tell us why. They start up in Silicon Valley in the midst of a nightmare. His gold about to rally higher . The hsbc chief commodities analyst will tell us why he sees gold as a longterm insurance policy. David this is Bloomberg Markets. Time for the Bloomberg Business flash, some of the biggest business stories. Freeportmcmoran will pay more than half 1 billion for a corporation not to use appear of its drillship spirit it is part of an effort by freeport to cut costs. The company is scaling back its energy business, looking to sell oil and natural gas assets. Guildgreed to start the for 35,000 theres in new york. It will give members new protections and benefits. Under terms of the 55year haveact, uber drivers will a higher standard of protection and support ban other independent contractors. Friendlys restaurant chain has sold its ice cream manufacturing and Retail Business for 155 million. It is sold to the largest distributor of milk another very products. The transaction is expected to close late in the second quarter. That is your business flash update. Moving to the airline industry, u. S. Airline stocks are rising today. That Airline Stocks are still down about 14 year to date as concerns over a sluggish Global Economy and too much capacity overtake low fuel prices. It has taken a toll on carrier bottom line. Firsthalf loss of 35 million or they expect to see recovery this summer and are boosting dividends to 5 . Ceo Carolyn Mccall said its cash position is strong. Have done ahink we rigorous review, as you would expect. We do that on an annual basis. We have cash to do this and we would not be raising the ordinary evident to 50 if we do not believe in the longterm success of this airline. We have confidence in prospects ongoing. We can do this. We have done a couple raised it. Nd we have it is the right thing to do. Capacity, talk a little bit about that. Everybody. The amount of capacity coming on in europe right now is i watering itis eye how do you cope with that in deal with this situation . It will be a tough summer. The environment is being driven largely by low fares. Year isup to 8 a easyjet is growing up to 8 a year. We think that is the right level of growth to take advantage of opportunities in the u k in europe. Were still growing organically, but there is a lot to go to it we still only have 9 of the european market. So there is a lot more space for us to grow. Were doing that in a very organic, a risky way, actually. It is a very tough environment. Making itnot capacity tough. Were used to capacity and competition. It is not completely out of sync. If you look at our loss this year, Constant Currency is coming in the same as last year, but 5 million profit. It is the Foreign Exchange movement that affects us. So despite paris and brussels, we have done very well in the first half. I think that shows our customers like us spirit we do the right things for our customers. Focused on our passengers here at we have a very Good Business model. It is the Business Model in airlines that will win in europe. David that was Carolyn Mccall on on the move. Julie hyman is checking on amazon, a company flying. It is at a record today. That is after an analyst at Sanford Bernstein was the first to put a 1000 price target on the stock. Mondays7 higher than shares were up 3 today. He sees that the company has a lot of possibilities out there, and it almost has too much money on hand. It will have a hard time figuring out what to do with it all. He is breaking from the pack when it comes to amazon, especially as it relates to alphabet. Here is his estimates for amazon and then for alphabet. It is different than others who are expecting alphabet, or 1000 dollarst to before amazon. It is interesting, the divergence. Another way to look at the Consensus Forecast for amazon, look att anr. The bars are the number of buys, holds, and no sales. The sentiment is positive, but here is the average price target. 809. Here is the stock price. There is a gap. Like to track we for amazon is the status as a retailer. Cap, it is at market the largest retailer. That is because it is bigger ofn walmart, again, in terms market cap. Not in terms of sales. This is the spread between amazon and walmart, market cap, so subtract walmarts market cap from amazon. Capon was smaller market wise until august of last year, when it surpassed it, and amazon is now about 115 billion larger terms of market size. David thank you very much, julie hyman. It was known as the toast of Silicon Valley. Zenefits is trying to chart a comeback after legal and ethical challenges. David this is Bloomberg Markets. Safe to say not all unicorns have fairytales. Zenefits on this everything from Health Entrance to payroll, and members of the sales team allegedly sold insurance without a license. The company is trying to survive a pr nightmare. Claire suddath joins us now. What does zenefits do . Claire online software. A Small Business can put in employee data, and it helps select Health Insurance plans, keep track of payroll, all sorts of stuff. Id the insurance part is right for destruction. The company had bold ambitions. Claire everyone said this was a genius idea. Brokers felt like zenefits was taking interns benefits away from them. If you are a Small Business, 10 employees, you do not have combne designated to through the hundreds of different insurance plans and pick what you need. Zenefits will do that. They grew like gangbusters in Silicon Valley. He made 1 million the first year. 20 million there next year. The third year, they wanted to make over 100 million, and then things started to fall apart or were growing way too fast. David the guy behind this did not have a background in insurance. How does his plan fall apart . Claire he picked an industry right for destruction and an industry that is regulated. You have to be licensed in each state to sell insurance. You can apply for a license and another state. So fast andgrowing had other managerial problems. They seemed to not be able to keep track of who was licensed where. David i guess there was a genius thing he did, maybe not genius, created sort of a macro within the chrome browser they would try to license people. The mosthat got him in trouble. It takes a while to get licensed. In california, were the company is based, you have to take a 52 our Online Training course. It is just a training course. Zenefits says he created this extension that would allow you to appear as if you are logged in and going through the 52 hours when you are not. It was a statemandated course, and they did not do it. Sachs comes on and tries to turn it around. What is the state of the company today in light of the regulatory stuff . Claire they are facing millions of dollars in fines. There are investigations and hintedy a few more being at. The one good thing is this is such a good idea that their customers do not seem to be leaving. People are frustrated, but everyone i have talked to have said there is not really another option for me and my Small Business, so i will stick with them. David a cautionary tale for other companies that grow quickly what is the biggest take away . Scale up, order to you have to have a plan in place to figure out how to do that. People andjust hire hope the company will stay the same. David that is Claire Suddath spieth thank you and you can read that on Bloomberg Businessweek. Still ahead, the commodities close is coming up. Oil up 2. 3 . More Bloomberg Markets after the break. David lets start with the headlines. Mark crumpton as more from the newsroom. Mark Hillary Clinton and donald trump are in tight races and three swing states. Survey, mrs. A clinton leads trump in florida and pennsylvania while trump leads in ohio. Statistically, all three states are too close to call. Since 1960, no one has been elected president without winning at least two of the three states. Struck a north syrian town today and at least 10 people were killed and several others wounded. The dome of a mosque was knocked over according to activists. This came hours after a limited wasfile ceasefire extended for another 48 hours. Climbers are making Good Progress on Mount Everest and the first group to reach the debt could reach the summit as early as thursday. It comes after two years of disasters. Killed 19 climbers and injured 61 others at a base camp last year. Guides, 16 guidance were killed. Appears to have won a seat in the Philippine Senate according to unofficial results. More than 15 million votes with 90 million precincts reporting, place him eighth among candidates for 12 senate seat. Nearly 3 million votes ahead of the candidate. Powered by 2400 journalists. Back to the studio. A look ats take biggest movers starting with agriculture. Big news after the usda released a report on supply and demand. The highlights, soybean futures surge after 6 after reports of global inventories will be smaller than analysts expected. Prices reached the highest since august of 2014 and well above 15, 30, and 45 a day moving averages. Futures today after world wheat inventories may rise 5. 9 , a record in 2017. It may be at a record 4. 4 main pushers in bushels in 2014. Also spiked on the news. Twoweek lowom a today. Concerns that supplies from nigeria and libya, holders of afters largest, selling today at 4467. Gold seems to ha