We were talking about how it had dipped into the red yesterday. We are off of sixwe close. We are off sixweek lows. The s p is up. 6 . The nasdaq is still down year to date by nearly 4. 8 . I want to show you what has been happening with the s p 10 sectors. Generally a broad rally across the board. Information technology continues to be the biggest leader, up by 1. 1 percent. It had been higher. It was as high as about one point 3 or soap Health Care Sector up by about. 8 . Consumer staples continue to be the biggest laggard come at down i about. 4 . I want to talk about some of the biggest s p point gainers, chief among them some stocks you would expect, mainly apple. 5le up. 9 , contributing points to the s p right now. Luring is up 2. 4 , audiences back to it by offering more reruns on video on demand. 3 . Ret soft up pfizer up. 4 . Pple is up we saw a jump when tim cook landed in india. He is there. He had dinner in mumbai thursday. This is potentially on the idea he is there to open up and another country, opened up more as iphonespecially are seeing a decline in demand. Lets switch to currencies and commodities. Looking at oil and gold. Oil is down. 9 , near the lows of the day, coming off of highs this week when we saw an increase in u. S. Oil supplies. As for gold, gold futures are down about. 2 . They are continuing to fall. There is the chance that the fed rate hike continues. Right now, this is down three days in a row. Were in for the third weekly loss. You for that. Nk david lets check the headlines. Once donald trump supported restrictions on gun rights, and he criticized republican politicians who walk to the nra line. But today, the organization is formally endorsing the likely president ial nomination or he is speaking at the National Rifle association convention. Thousands of gun enthusiasts are on hand to hear him speak. Mr. Trump told him earlier, i will not let you down. Theident obama turning up heat to fight the zika virus, saying congress has got to get moving to he spoke to reporters after a briefing from Health Officials on the spread of the virus. President obama this is something that we can solve. It is not something we have to panic about, but we have to take it seriously. If we make a modest investment on the front end, then this will be a probably do not have to deal with on the back end. Mark the president says researchers need time to develop vaccine and that states need to ramp up Mosquito Control programs. They have not solved the mystery, but searchers looking for the missing egyptian jetliner have some clues. Haskage from flight 804 been recovered. Seats, luggage, and a body part was found in the mediterranean about 180 miles of the coast of alexandria here the egyptair jet lag there was an route from paris to cairo thursday when advantage from radar. 66 people were on board. Egypt says it was more likely a terrorist attack than a mechanical failure. The excavation of Joaquin El Chapo guzman to the united likely, according to the Foreign Ministry, which says the u. S. Guarantees it will mess he the Death Penalty. Once the extradition is committed, guzman will be tried on racketeering charges in texas and tracking charges trafficking judges in california. The process can be appealed, so could be weeks or months before he is sent north. His lawyers have 30 days to appeal the decision. Global news 24 hours a day howard by our 2400 journalists in more than 150 news bureaus around the world. Shery ahn thank you so much. Reported, u. S. Stocks are holding their own after the s p 500 drop yesterday. The fed minutes on wednesday set off a wave of sailing. David it is still well up to february lows, up more than 12 . Manleys chief equity strategist at wells fargo funds management. My biggest takeaway from the minutes on wednesday, probably not surprising to you, is how members of the fomc think there is a disconnect between what they are saying and what folks like you are seeing. What accounts for it . John folks like me can have a bit of an ego. I always think that whatever i thought, janet yellen thought three weeks ago. The Federal Reserve has done a very good job. It is a tough thing to do. I think they will be data dependent it why wouldnt they be . Why should they promise to do something . They will set rates as they think rates should be set. They will not try to restrain the economy. Shery ahn the s p 500 erased this years gains earlier in the week, but now we see a big rebound. What does that tell us . John i think when the Federal Reserve is accommodative, they are trying to push money into the economy. In the middle of it was sort of get in the way, and when theyre pushing money in, we tend to rise and be resilient. When they are pulling money out, the opposite is true. I do not think you should ask how many times the fed will raise rates this year he would you should ask if they will encourage or discourage economic growth, and that will determine how the money grows. David i cannot resist the urge to read this line you said the stock needs a kick in the pants. Sometimesll need that to move on. I think theyre fairly valued. About 16 or 17 times forward earnings expectations. Shery ahn compare them to the u. S. And other markets in asia europe, i mean. John i say they are cheap versus us rather than we are expensive versus them. Look at the last 20 or 25 years. It does not seem extreme. 2000 was extreme. 1982 was extremely extreme. Shery ahn we see valuations and other places, say asia. Where do you look for bargains . John in europe. The thing about value, you have to realize things get cheap or expensive for a reason. If the reasons exist, so will the cheapness or expensiveness. You did not have much monetary pressure, no quantitative easing, very tight fiscal policy. Those are changing. I think asia offers a lot of the same opportunities to bid further it is a bit further along in some ways and closer to the start and others. Japan has tremendous value. If they could get it going, and mr. Abe says shery ahn the g7 is happening now. How about the yen . We are some weakness now, but a 9 boost this year. John i have given up trying to predict currencies. End of thep at the data at strong economies tend to have strong currencies. And they get too strong and sort of weaken. It is not perfectly efficient, but it tends to wash up. , it sort of washes out anything more than a month or two. David the degree to which you Pay Attention to when the fed will raise rates again, that is a conversation we have over and over again. Is that the key question when it comes to Monetary Policy . John no, i think the real question is whether they will try to restrain the economy. I think they will raise rates when they can do so without adversely affecting the economy. They will be data dependent, but they will not try to tighten at the end of the day, week, or month. Shery ahn thank you for that. Next, mexico up approves the extradition of alleged drug kingpin El Chapo Guzman to the united states. Were live with the latest details, next. David Bloomberg Markets this is. A quick check of the markets. All the major indexes in the green to nasdaq up about 1 . The s p 500 up about. 5 . The dow up about. 3 . Back to the possible extradition of joaquin guzman, better known as el chapo. Mexicos Foreign Ministry says the u. S. Has guarantee the Death Penalty will not be applied to his mom. Eric ahn lets bring in martin, who is in our mexico bureau. How much of a surprise is this . Eric a big surprise. A lot of people thought chapo recapturedever be after he escaped prison for a second time in july of last year here at and mexicos previous attorney general said that chapo would be extradited to the u. S. Only after he faced all of his charges in mexico, which he estimated at several hundred years. So this is a huge turnaround in the last several months in terms of the recapture of this month and mexicos willingness to send him to face justice in america. David is month guzan monts lawyers say the Legal Process could take one to three years. Talk about the cat of pressure the u. S. Applied to the Mexican Government to make this happen talk about the kind of pressure the u. S. Applied. Eric there is the issue of National Sovereignty in terms of the drug war and behold it has had on mexico. The number of deaths, kidnappings, the violence, and a desire by the government to try here. Nde guzman after the second prison escape, there was more willingness to extradite some other suspects and a feeling of renewed or a new type of cooperation with the u. S. And new recognition that perhaps the best outcome to face be to send himd to the u. S. And have him go through the process there. Shery ahn were hearing that his lawyer will appeal. What are the chances of him winning . There are a lot of appeals process is available in mexico. It is something that could take a very long time. But most observers say this is a case where the u. S. And mexico have strong legal ground for extraditing chapo. And ultimately, all of the potential measures that could be presented by his defense team on that prevent him from being sent to the u. S. And facing trial. They say either texas or california. David what sense do you have about how the mexican people feel about the prospects of this happening . Are they interested in having this take place in mexico itself . Eric i think there is a lot of willingness to see chapo extradited. There was a lot of concern about what his two escapes showed about corruption and the rule of law in mexico. So i think you will find very few people that think, ultimately, the only way to bring him to justice is through the mexican system. I think most people on the street would say they have tried to keep him twice and he has twice as game, so perhaps trying a new strategy and a maximum security prison in the u. S. Is a better way to go. David eric martin, thank you for joining us from mexico city. I want to talk now about the way that television is headed. Shery ahn the media landscape is changing, and we now have lucas, who wrote about this very change. Tell us about we about how were seeing this shift and evolution with broadcasters and streaming companies. Lucas one of the big trends this week when the tv networks of giving presentations about their shows, they have been an arcane procedure that is the ability to offer more shows on demand. Show thatt a new comes on and you hear a lot about it. At first. Watch it with a lot of shows, a view try to catch up on it, you can only go back three or four episodes and cannot start in the beginning. So you cannot catch up on it, so you will wait until it goes on netflix, amazon, or hulu. The tv networks wants to make it so they have more rights and can offer a full season, fully stacked, if you will. Shery ahn this is great news for me as i binge watch tv. David it is like a psychological shift. Worried aboutere this option diminishing the amount of people watching the shows in real time. Of the Research Suggests the opposite. There are many people that binge watch, like you. I was discussing this at lunch today. What you have seen this year are these big Media Companies, after watching the success at netflix and seeing how investors have freaked out about their own future, they are trying to combat the rise of netflix by different means, some by going into these smaller bundles of channels here in this case, offering more on demand is another response. Shery ahn who is benefiting the most from this change . What happens to conventional paytv . Lucas first and foremost, the consumer, because a becomes easier to watch what you want. The hope of the Media Companies and cable providers is that they will also benefit. Comcast has been wanting to be networks to get these rights, because it gives them a way to offer some thing that netflix already has. They want to be able to tell their customers that if you want to be able to catch up on a shore watch anything, you can hear hear it you do not need to use some other service. You were there for the detail and the presentation of the shows coming up. There was an interesting moment. You were talking with agents for thiswood talent that said season stacking is a something now making or breaking a lot of deals. Lucas for a big hit like empire, they will not cancel it because it is so popular. But if a tv network is choosing between two programs and they have backing rights for one and not the other, they will stick to wonder they have the rights. I was surprised that one agent was very blunt, saying she feels like her clients show to not survive because of that. Sory ahn lucas, thank you much. Now i know i will probably be watching much more tv. David binge even more. Still ahead, how to play the retail route. Department stores are online, and chances are they are paying with a credit card. We will look at investing in visa when we come back. David this is Bloomberg Markets. Ramy joining me for options inside is chief Market Strategist at bar chart bullseye options, joining me from the cboe. Very good to see you. Happy friday. The markets right now are higher, breaking a down day yesterday, especially after what has happened with the fed and the release of the april minutes. Do you think traders have played out what they are going to play . That the,look at it were actually positive on the week. At the cboe, then fix is on respect to unchanged after we had what looked like a false breakout yesterday. The mix got up about 17. Were back inside, relatively unchanged. Went from zero chance of a rate hike to maybe a very small chance, still only about 25 . I think people have gotten beyond that right now. Ramy civics is so volatile. What are you looking ahead to is the fix is so volatile. What are your looking ahead to for next week . Majority of earnings have already come out. Then next cycle is not until the fourth of july. The markets tend to get nervous, so we have to wait and see. For me, 16 is a key pivot. But the vix has traded between 20 and 12. So watch 16. As long as we remain low that, the vix is a downward trend and the market hasnt upward has an upward buy in. Ramy we got positive news for a slew of companies. Gap, Urban Outfitters era do you think that is more of a blipi in a sea of red . Retail stocks have not been doing very good. Obviously. It has been funny how this has been a slow trend, but it accelerated with the shift to andrew net shopping and how retail shops have not been doing well. I am lookinghe way at that segment is, i do not care where people show up, look in visa visible gain from a transaction, whether it is internet or in bricks and Mortar Stores visa will gain from a transaction. Ramy you are saying that people whether they go to brick and mortar or whether they go online. We are seeing folks buying things. How will visa break out of this . If you look at the overall chart, i look at this as a pause in the visa trend. Visa has gone up 300 in the last five years and is now unchanged. We have been trading between 70 and 80 for the last year. 75 and weeks, between 80. A breakout of 80 could lead to 90. So i am looking at the 75 level, and i think visa has a lot of potential. People are still shopping and spending money, but competition is so great. Every neighborhood in america has the exact same stores. It has been very homogenized. Ramy thanks so much for joining us. David breaking news here there was a shooting on west executive drive outside the white house. House currently on lockdown. The press office pointing out that the president is not in the white house. And again, the u. S. Park police confirming a shooting on west executive drive near the white house in washington, d. C. Shery ahn still ahead, how will the doomed egyptair jet that saying affect Airline Stocks . From bloombergs world headquarters, youre watching Bloomberg Markets. Lets start with a check on headlines. Newsroom. Ore from the Officials Say more wreckage of that missing plane has been parts,including body luggage and passenger seats. The official says the search continues. Earlier in the day, the egyptian 180 said wreckage was found miles north of the port city of alexandria on the mediterranean coast. The flight was en route from when it vanished on radar early thursday. Egypt says it was more likely a terrorist attack than a mechanical marlin. Aesident obama will than mechanical failure. The leaders are expected to discuss the Climate Change and Clean Energy Partnership that the president announced on his 2015. Isit to india in Prime Minister is scheduled to address a joint meeting of well. Ss as british prosecutors say the man who climbed over a buckingham wall and wandered the grounds for 10 minutes yesterday was a convicted murderer. The intrusion triggered a police man wasfore the apprehended. Kentucky derby winner nyquist has drawn the number three gate preakness stakes in baltimore, maryland. Nyquist started the kentucky 13th post and won quarters by one and a lengths. Exaggerator has the best odds behind northeas nyquist. Global news 24 hours a day, powered by our 2400 journalists bureaus around the world. Markets closed about 30 minutes time. A percent. Abigail is live at the marketplace in midtown, manhattan. Indeed we are looking at a rally for the nasdaq today and on the week. 1 , adex is up about little more than 1 on the week, snapping a fourweek losing streak. Muchcomes after volatility. We have many interday moves. Weekct, each day of this has been an interday move of at least 1 . Chopness. Index finished higher on monday, down on tuesday. Up on wednesday. Down thursday. Were on pace to finish up today. So fasten your seat belts for next week. We could see more volatility. Taking a look at whats helping the nasdaq this week, applied materials. This is one of the better percentage performers on the 14 , after the chip Equipment Company did offer expected guide for the third quarter. All of this on robust new order demand. C. E. O. Is optimistic that this will continue, this ellis at as i