Julie has been keeping an eye on all the movers. Julie right now, we are seeing it come up a little bit. The dow was only off by 16 points but nonetheless we see it hold onto gains earlier. Were not on track for another record fall with declines across the board. What is going on . The groups on the move, much more red on the imap. Financials of the worst performing Group Contributed to the declines. Tech one of the biggest laggards right now. Citigroup, turned the lower after initially opening higher. Revenue matching estimates. Weaker than expected results in consumer banking. Wells fargo matching estimates but reported some weakness in mortgage banking, a large part of the overall business. That is contributing to the declines overall putting pressure on the financials. We are also watching the travel stocks. No suffering from a downgrade. Delta air suffering from a downgrade. It is weighing stocks overall. Shery ahn how did the retail sales data affect the dollar . Julie we had Consumer Price data that was a little stronger. The dollar got a lift. On the flipside, we got planarian data on Consumer Sentiment for july and it came in weaker than expected. It did not slow down the rally we saw in the u. S. Dollar. We are also watching the 10 year. We have not seen a turnaround. The yield has seen a big arise. 23 basis points was the increase in the 10 year yield. The biggest gain since february of 2016. Shery ahn lets get a check on the bloomberg first word news. Mark crumpton has more. Mark just as france was cautiously returning to normal Francois Hollande is once again rallying his country in the face of another horrific terrorist attack. Francois hollande the whole world knows we are a strong country, able to overcome whatever is thrown at us and we have had to face a number of those attacks in the months. We are showing a great example to the rest of the world. We have been able to show cohesion, togetherness. Mark Francois Hollande arrived in nice early today, visiting some of the wounded. 84 people were killed, dozens of others in the hospital after a driver rammed his truck into a crowd of people celebrating still day bastille day. Dna checks are pending. President will speak at 3 10 p. M. Washington time. Mr. Trump told foxnews he would be willing to ask congress for a declaration of war against Islamic State while mrs. Clinton called for greater intelligence gathering. She said the u. S. Is to do more to understand this is a war against radical jihadist groups. Donald trump has selected indiana governor mike pence as his running mate. It was released in a tweet with mr. Trump saying he was pleased to choose mike pence as his running mate. The Selection Process was postponed after the deadly attacks in nice. Global news 24 hours a day, powered by our 2400 journalists in more than a 150 news bureaus around the world. This is bloomberg. Vonnie lets return to the tragedy unfolding in france as a terrorist attack to the coastal town of nice. The attack came eight months a a murderous rampage it in paris. There implications for a country already traumatized. Daniel is the former court nader at the counterterrorism unit of the u. S. State department. He joins us from hanover, new hampshire. France is particularly experienced at dealing with this kind of attack. This seems to be one of the worst ones with the fatalities reaching over 80. Daniel france has been hit hard over the last 18 months or so from Charlie Hebdo tot the november attacks. It has a history of dealing with islamist terror going into the 80s. The casualty tallies have risen far above anything any european country is used to dealing with. This has become something of a crisis for france. Vonnie should we be careful how we characterize the nature of this attack, giving credit to a body or group that might not be it responsible for it . Daniel i think we have solution be careful at all times. There has been a willingness now to take any mass killing as being likely a terrorist attack and given what we know about this individual, he may well have seen this as an opportunity to Carry Forward a historic tide the Islamic State reports to be advancing. He is a criminal without a history of extremist activity. There is a question of whether there is an element of command or control. Shery ahn it seems this attack was quite simple without any planning ahead. Plowing this crowd, how is violence changing and what would you call the democratization of violence . Daniel we find more and more people have the wherewithal to carry out attacks without very complicated or sophisticated attacks we saw for example from al qaeda late in the 1990s and early part of the point for century most notably on 9 11. We have seen for example in israel a whole range of attacks carried out using tractors, stabbings the regular tax like this 1 vehicular attacks in england we saw our british soldier hacked to death. It is different from the attacks we saw in the 1970s. In our own country, assault weapons, it is different from the bombings carried out. Shery ahn violence is changing, had you prevent these sorts of attacks which do not take that much planning and are harder to catch . Daniel it is very difficult to do, especially if it is a single operator who is not working with anyone else and therefore has not left of malachi trail left an electronic trail. Vonnie daniel benjamin, thank you, director of the John Sloan Dickey center for International Understanding at dartmouth college. Shery ahn donald trump announces his Vice President ial pick, mike pence. We will have details from cleveland. This is bloomberg. Shery ahn you are watching Bloomberg Markets. Vonnie lets head to the markets desk where julie hyman is standing by with a look at winners and losers. Julie their headlines from microsoft, saying in a statement it is not going to make its goal of selling one billion windows 10 devices by fiscal 2018. It will take longer to get to the goal. Shares taking a little bit lower off by 9 10 of 1 . Trying to get context about whether this was expected or unexpected by investors. We will bring your update once we have more details on this. Elsewhere, in terms of winners, container Board Companies up. In a National Paper also gaining interNational Paper also gaining. Demand is Holding Strong and stable exports. Some of these companies should trade higher. Official data from a trade organization after the close of trading today. Also, on the losing side today, media stock cbs and Discovery Communications downgraded to sell. The analyst was talking about the second half market for ad sales on television will be weak for cbs if you exclude the effect of the olympics. For cbs in particular 2016 is not going to be great because of a testable and political of a tough super bowl and medical political. I want you to focus here all the green is the by ratings on cbs. Here is the neutral. Not much red until now. This rating is the first we have seen in quite a while. 2010, is where he went to find to bearish stock. That is why you are seeing a 3 drop in the stock because it is against the grain in terms of sentiment. Vonnie thank you. Shery ahn it is official, donald trump has elected indiana governor mike pence as his running mate. He made the announcement via twitter ahead of the News Conference tomorrow. Lets go to megan murphy in cleveland ahead of next weeks rnc. We are now hearing that trump will make an appearance tomorrow to make the official announcement, what can we expect from the event. Megan it has been a painful weight over the last wait over the last 36 hours. We can expect to see what we expect to see in any vp announcement is there going to be a sense of camaraderie . A sense of trust you need in a running mate in a grueling battle . Lets see what they look like on stage. They have to square us on some of the disagreements. Hence has been pence has been vocal on Donald Trumps plan to ban muslims. Theyve had public disagreements on important issues. Vonnie the choice of pensce, we know he is an evangelical, will it impact hillarys choice . Megan a really interesting question and fascinating. She has been doing her own auditioning. She is faced with a similar dilemma. Do i go with someone who is going to add fire to the campaign . The need to win . Or do i go with someone safer who will give me credibility and trustworthiness . They both have similar issues. Trump made a safe choice which might surprise some people. We have yet to see if Hillary Clinton will look for a firebrand or safety. Shery ahn how will mike pence encounter . Er her . Megan Chris Christie is a true warrior and attack dog on the trail. We will have to see if mike pence a solid conservative, measured guy, if he is going to have the fire to go after her. Weve seen Hillary Clinton lose grounds, significant grounds, in national polling, losing as much as 56 points over controversies about her email server. We will see if mike pence will attacker or if he leaves it to donald trump. Vonnie in cleveland, it will be about momentum. Will mike pence help there . Megan it has already been an unconventional lead up. Donald trump has promised a Convention Like nothing we have never seen. There has been controversy even over who is speaking. We are going to have to wait to see who lines up and gets in front of the lights just across the way. Given how unexpected the past 36 hours have been, he lost control of the vp announcement process, we will see if they have the discipline and control to hammer home the message next week or if it is going to continue to be chaotic. Shery ahn it has been very unconventional and hectic and chaotic. Is this any indication of what Trump Campaign could look like Going Forward . Megan Trumps Campaign all along has been embraced the chaos and move on. He has had so many controversies and moments where he we thought that could be a derailer. He has consistently polled now they have to turn out both of their bases and they are going to have to convert undecideds. There are a large portion of people disappointed with both donald trump and Hillary Clinton as candidate. That is with the battle is going to be and where they need to marshal their forces and they need a compelling message. The environment is wracked with turmoil internationally and how theyre going to heal the risks and economy economy and rift s. Vonnie there was a New York Times poll yesterday about how donald trump already has the evangelical vote. Maybe they are not fully committed. Will they read this pick as a hypocritical way to solidify their vote . Megan that its a good question. Mike pence has the support, they think it is a smart pick we have had a struggle with senior parties coming behind donald trump. I think he will help there. I think they will be surprised she he has picked safety. He has chosen the safe road. He could have picked Chris Christie or newt gingrich. We will have to see if this pans out. That is what people are not to share too sur eae about. Vonnie both candidates responded to the attack in nice and sound like the commander in chief. Did they do well . Was there mileage they were trying to get out of that . Megan for donald trump, it plays into im going to protect you. For Hillary Clinton, a gets to the root of the causes. We will see how the American People judge them. Vonnie thank you, megan murphy in weeks Republican National convention. This is bloomberg. Shery ahn this is Bloomberg Markets. Vonnie it is time for Bloomberg Business flash, a look at some of the biggest business stories in the news right now. Cheers moving higher after reaching 200 million shares moving higher after reaching a 200 million settlement. Herbalife saysshery ahn european car sales growth growing in june as the brexit vote weighed on consumer confidence. Registrations were up 6. 5 to 1. 5 million vehicles. June marks the 34th street month of auto sales growth in europe but it was the slowest since march. Vonnie british landlords are unsure or concerned at least about the consequences of brexit. That is according to research in a postreferendum survey, 40 said the vote will have a negative effect, a quarter are unsure what the results will be. Shery ahn that is your business flash update. Vonnie still high, we tell you about the emerging market etf they got one of the biggest oneday and more than two years. This is bloomberg. Get ready for the rio Olympic Games by switching to xfinity x1. Show me gymnastics. X1 lets you search by sport, watch nbcs highlights and catch every live event on your tv with nbc sports live extra. Im getting ready. Are you . X1 will change the way you experience nbcuniversals coverage of the rio Olympic Games. Call or go online today to switch to x1. Shery ahn live from bloomberg headquarters in new york im shery ahn. I am vonnie quinn. Mark crumpton has more from our newsroom. Mark in northern england, people lined the streets to pay tribute and final respects to Labour Party Legislator jo cox. She was shot and stabbed to Death Outside of a library in north london on june 16. The murder trial of the man accused in her death will begin in november. Prime minister theresa may is willing to listen to proposals about scotlands feature relationship with the european union. She made the announcement in edinburgh after talking with nicola sturgeon. She said in light of last months vote to leave the eu another referendum in her words, is highly likely. Scotlands population voted to remain in the eu. A longshot attempt to buy delegates to prevent ronald trumps nomination Donald Trumps nomination has been rejected. They voted to turn away an amendment that would allow delegates to vote their conscience and ignore caucuses in their state. It was a setback for antitrump. The controversy over the use of a private email server while secretary of state damaged Hillary Clinton. More than half of americans think mrs. Clinton roque the law, and four in 10 believe she did so intentionally. The Presumptive Democratic nominee has been dolled by the perception she is dogged iv perception she is dishonest and used the private server to avoid laws. I Mark Crumpton, this is bloomberg. Shery ahn lets get a check on u. S. Stocks. Markets feeling the downward pressure. Equities struggling to advance. The dow jones down. Remember, the u. S. Benchmark, the s p 500, flirting with the longest winning streak in two years. On a weekly basis, stocks headed for the third week of gains. The nasdaq down 2 10 of 1 reversing yesterdays gains. The more, lets go to Abigail Doolittle at the nasdaq. Abigail is that of looking at the tech movers, in light of the recent tragic attack in france we thought we would look at travelrelated stocks. Interestingly, we are seeing a bit of recovery in the airlines. Some of the Online Travel agents. 2 exceptions. Norwegian cruise line and priceline. No region cruise line is down more than 4 . Earlier bush weighed in saying european terrorism is weighing on consumers, preventing a sustained recovery in pricing. Norwegian cruise line pulled out of turkey for 2016 and 2017. Shares are down 30 this year. Priceline down 1. 5 the largest of the Online Travel agents. Investors may fear the string of terror attacks could slow global Leisure Travel thus the stock is down. Looking at a longerterm chart of priceline and Norwegian Cruise Line with the nasdaq. Norwegian cruise line in orange we see priceline and the nasdaq are correlated trading together. Priceline is not too affected. Norwegian cruise line, along the lines of what was said, appears to be hurt the most by this string of events. Shery ahn thanks. Another ripple effect. U. S. Retail sales posting a healthy gain. A sign of Consumer Spending that should boast broader Economic Growth as we head into the second half of the year. Lets get insight from the ubs chief economist who joins us from his offices in new york. Another sign that the u. S. Consumer is strong. Give us context on the latest data and what it says for the u. S. Economy. Good news all around for most of the data. We had a good manufacturing data for june, led by autos. We had healthy inflation numbers. Maybe putting the fed more at ease on the inflation front. We saw growth in the inflation readings. The areas of weakness were empire manufacturing, which came out for july. If you were fed a member worried about the impact of the u. K. Referendum, that might be something you would think was impacting that. Probably speaking, everything points to strong growth in the u. S. Consumer in the Second Quarter. We know it should continue into the third quarter. It seems things are getting brighter. Vonnie why have so many people put off the first fed rate increase forecast until september, or december . There are lots of uncertainties. The only really negative potential is the british renegotiation of trade agreements. It is pretty isolated to the british