Responding to scrutiny for increasing the treatment by 400 over nine years. 30 minutes into the trading day, lets head straight to the market death where Abigail Doolittle is with us and has the latest. Abigail we are not seeing too much of a reaction yet. We take a look at the dow s p 500 and nasa that, we see all three are up modestly following weekly declines for all three indexes. For thet in nine weeks nasdaq. Not seeing too much of a reaction after janet yellen policy speech in jackson hole last week despite the fact it appears rates could be pushed up earlier than investors previously thought. When we take a look at the today chart, we see a rebound. Pressure on the idea that rates could go down. A bit of a rebound today. Class. S are one asset commodities, currencies, and bonds. Oil is asset check, trading lower today. This could be on the suggestion we will see the dollar raise rate rise higher. Oil is down and we go into the , wemberg and we take a look see this year oil has started to trade in a range. The uptrend is starting to reverse and selling pressure is really cap the on oil, suggesting that oil could drop down perhaps on dollar strength. Rates may again that move up earlier than what investors had been looking for. Caesars entertainment, scherzer plunging after news the game company could he in fact forced into operating unit as creditors and bondholders are coming for the 11. 4 billion in lawsuits. The company could be forced to pay for the operating operating units losses. Bee investors may not surprised. Netflix are lower on accelerating on 80 price target suggesting a decent downside could be ahead for the shares of netflix. Analysts believe increasing competition and pricing pressure is diminished plus due to content, they could have a challenging time meeting estimates. Mark we are 90 minutes away from the end of the monday below the daily average. You know why it is a bank holiday here in the u k. The stoxx 600 down today is stuck in a 3 trading range since july 12. All its brexit losses on august 11, it has been trading, most Industry Groups are down today, following the market, down 1. 8 percent today. He seesarchionne says Samsung Electronics as the potential Strategic Partner and an interest from several potential buyers from the u. S. Italian carmakers, a components unit, samsung we heard earlier. His month is in advanced talks shares are lower. Shares are traded in hong kong and rose 12 today. The italian luxury goods maker will return to sales and earnings next year helped by cost cutting and online expansion in asia. Less than estimated 25 . These are the goods which include luxury good makers. There has been let very little impact on goods shares. Much a soul luxury Goods Company rising today in hong kong and italian Manufacturing Confidence in august fell to the lowest levels since earlier last. Ear struggling with a stagnant economy, compounded by that massive structure from last weeks deadly a lovely chart paints the picture perfectly. Lets check in. Alicia has the details from the newsroom. Final appeal to save her job. Addressing congress as her proceedings heading to its last days. Brazilsenate will hold a final vote on wednesday. The death toll is rising at a military staging area in yemen. 54 attack killed progovernment troops. They had been preparing to travel to saudi arabia. Claimedmic state responsibility for the attack. Whether fraud had anything to do with the number of People Killed in last weeks earthquake. 290 people died and authorities want to know if contractors broke building codes, making it more likely that building codes would relax. They also want to make sure organized crime does not get involved in the rebuilding effort. Explosion a bomb turned out to be false. Instead, someone set fire to the crime lab in an attempt to destroy evidence. They analyze dna samples. Five five suspects have been arrested. Singapore have the zika virus to are the majority of the cases occurred among foreign construction workers. Almost all have recovered. Tepping up its fight global news coward by more than 2600 and analyst in more than 126 countries. This is bloomberg. To the fedsng out next move. Janet yellens jackson hole speech was enough for september. Pimco says the speech included nothing of note. On traders agree with goldman for the moment. The probability of a rate hike increasing to about 42 right there. On friday, the Bloomberg View columnist told us jobs data could weigh heavily in a rate hike decision. With a muchlus higher wage growth, they would find it very difficult to resist a hike, probably september but definitely by december. Such apends on getting report. Joining us now, john from wells fargo management. We did not see all that much movement, a little increase in the idea we might get a september hike. The that is it. What she said was exactly what i wanted to hear. I hope the rates will go up and the reason is because the chair feels higher rates will not affect the economy. I think that means higher rates are actually positive. Larry summers put out a blog post saying he was disappointed with the speech because it was not dovish enough. Clearer that the fed would wait to see 2 inflation before making a move. I do not think there is such a thing as a magic number. Does the red want to encourage or discourage Economic Growth over the next 12 months . I think that question is easy. They will do it when they will get away with it. Not one second before or a long time after. They will wait until they see it. Nothing wrong with being did a dependent. Every time i get off an airplane, i make sure it is actually out again and not earlier or late. That is what she is doing. The fact that the fed is on a tightening path hurts its credibility and economy. He sees they should have been more dovish rather than more bullish and he says it would be far more clever to tighten only when there is real risk of expectation rising 2 . You think it is wise to say we will not rise rates until inflation closes on expectation . We have an idea of what she is up to. After jackson hole, there is a higher chance of a rate increase maybe next month or next year. She moved in the direction she wants to move us. I do not think she should tie herself to that. The economy is full of surprises. She has to anticipate a little bit. Mark talk to me about the equity market rising and falling in europe. The vix index below 15 for the longest time in two years. Short interest declining, Money Managers adding to their positions. To what extent is this market at an elevated risk of correction . It depends how you define a correction. I see every reason to go down three or four by tomorrow. I see no reason why goes down a lot. The fed willk tighten. A question of semantics. I think they will raise rates but not tighten. 16. 9 earnings. That. Ot see earnings seem to be Getting Better and not worse. And nowup a little bit it is priced for perfection. We are all nervous as cats around wall street but i do not see why it goes down an awful lot. I do not see that. Vonnie where you would invest, largecap and Energy Stocks because they are cheap. What makes you think that will not the an extraordinarily longterm play . Barrelack down to 46 per. I am old and getting older. They are not cheap, whole bunch of stocks. I look at high quality and yield, i see the big oils are pretty cheap. They could get cheaper of course. I look and figure why not take the opportunity when presented to me. But there ism now a reason rockefeller is still rich. I think there is a good way to get into a highyield situation even if the world shifts its focus even with the recap. People use more natural gas and oil and so forth, youre still bullish . There are a lot of ways to skin the cat. There are things that come out of the ground and i think that will go on for a long time. I think the markets are selfcorrecting. We haveget to cheap, less oil and it too expensive, more oil. The market still clears it just takes longer than most people. I think it is still a situation where there will be demand for the stuff long after i am gone. Be has beenll stuck in this 3 trend. 3 trading range. Since the beginning of july. What will give European Equity markets a rocket boost, a boost . Can you see it happening . There is to think pentup demand there. Europeans want to live better lives as we do, something to get them going. Finally, the fed is done it. A tremendously powerful force. Economicomes to growth, it is contagious and i think you need something to push them off center in europe and you have a pentup demand somewhere. I think we have a better system but there are more opportunities there. John, thanks for joining us. Do not miss the interview with Stanley Fischer tomorrow morning. At 6 30e will interview eastern, 11 30 london time. Mark i will look at the stocks moving in the early session. Herbalife. On the rise is billionaire increasing his stake in the company. This is bloomberg. Mark i am mark barton. Vonnie i am vonnie quinn. Time for a look at some of the biggest this and stories in the room in the news right now. Broken turbines on three of its 787 jets. Other parts of the engine damaged when snapped off, the engines built by rollsroyce. Check the engines met with facebook founder ceo mark zuckerberg. To discuss these Communications Technologies and relief poverty and some of the worlds is most is it vanished communities. A meeting taking place in the residence. The popehouse where lives. Thousands of want to be drone pilots in the u. S. Are racing to get license. More than 3300 have signed up to take test today. Within a year, the number of operators for hire may exceed the nations 171,000 private pilots. That is your business flash. Mark Abigail Doolittle has the latest. What have you got . Abigail we have quite a few movers here. Chipotle mexican grill, shares are higher on the news, the report saying they believe the inpany had improved from 21 july and expect that strength to continue in september. The Company Chipotle Mexican Grill did, on free promotions for food saying they were not sure what the effect of that would the but saying perhaps that is helping. Herbalife is having its best day in more than a note more than a month up 3 . Carl icahn had increased his stake. Quite famously by another billionaire investor bill ackerman. 17 this year. A roughly 1 billion position. He may be down about 900 million and finally taking a look at micron, now up three as price targets had been taken hire. Saying they really like the recovery in this helps to explain why the shares of micron are up 15 year to date. It is literally last chip pass is worse worst mastec 100 stock. Mark thank you. A drugmaker will start selling a cheaper and generic version of it at the 10 of the epipen. This is bloomberg. Mark live from london and new york, i mark barton. Vonnie i am vonnie quinn. The at the pens dollars ix hundred 600 apiece. In response to intensifying criticism from insurers, lawmakers, and Hillary Clinton. In Health Care Reporter for bloomberg news. First, when will this actually the able to be bought . The next few weeks and they definitely have control over this and they have this high chain and the drug and theyre making a generic version. It is the most they could have done without increasing the price but it gives them a little more control because theyre andady were for generic delayed but there was going to be a generic competition. This was going to build out the presence of the generic market and the criticism they have been under in the last couple of weeks. As the at is known generic drug maker and you are reporting that basically it will be identical to the product including the functionality and drug formulations. It is just another packaging. Will every will anybody by that random drug after this . Unusual as this sounds, it is not a completely unique strategy. Will do thispanies. This. Ies do things like it is a strategy in the pharmaceutical industry, not one coming in more recently down the track. They have increased the price so it comes in and still has a pretty good march and or makes as much money as they can while they can. Unique. Not completely mark under pressure from congress. It will increase its program. The likes of Keep Congress and Hillary Clinton off their back . What is interesting is whether or not they got to this point. There are a lot of dynamics that work. In terms of the speed of working with getting the generic central market, they pretty much owned and pretty much had an effective monopoly on. Epipen by far and away was the product in this category. Questions were raised by congress about how they had the pricing power. Those are still valid questions. Scrutiny in terms of coming out and doing it witchhunt, obvious week, trying to get ahead of that. I would not be surprised if Congress Still pushes to get information because it answers questions about how the Health Care System works here it works. Is the company able to increase from 47 for a single pen back in 2007 . How can that take place . Thisey have not done through huge increases. When they originally bought the pen, they were selling a single pack. The price they started out at, they doubled when they made it to a two pack. It is not the story of a drug price increase where he was able raise the price by a magnitude of 1000 . They did it steadily over the years because they built the effort around the epipen and made it the kleenex of this category. Vonnie thank you. Still ahead, fiat for a tech partner to take it cars into the future. Sergio marchionne, who is he flirting with . The answer is next. This is bloomberg. From bloomberg world headquarters, i am vonnie quinn. To letsget switch gears. Flirting with samsung for a potential Strategic Partnership. Increasingly turning attention to Technology Companies to help develop self driving cars. We already have a Good Relationship with samsung as a supplier but they stop short of confirming the talks over a possible sale of the unit. Tommaso ebhardt. Is this a oneway flirtation . We think this is a twoway flirtation. He is interested in keeping up with Tech Companies and has which could be part of a strategic alliance. It could also be put up for sale and samsung is interested in entering the auto business. Reducing the dependence on the consumer electronic business. Samsung and fiat executives. [indiscernible] company, board of director. We reported that they are in talks. Mark isnt just keeping his eyes on samsung. With other flirting tech providers as well. Hasnt he . Tommaso yes. Iat sefs the first was the first. We know he has talked with uber and amazon. He is also said he would love to build a carb but it looks like they will find a different approach. Clearly, trying to keep up with the Tech Companies. He doesnt want anything with too much capital. Fiat is the smallest. Vonnie and according to newspaper,rom a talks have slowed over differences about the valuation of the businesses. What exactly are the differences . Tommaso i mean, what the korean paper said is essentially that 3 billion. And samsung wants to pay much less. , it is just a matter of pride. Not the old company. What the specified in the interview is that they dont want that but they want to use possibly as part of a Strategic Partnership. Presume that it has been discussed. Daysll see, in the coming if something happens. Vonnie yes, they did have a chance to meet. I want to have listeners listen, he said that it is too soon to give a Financial Outlook for the rest of the year and consider a possible adjustment for fiat. Have a listen. We are almost there. We have 30 days left. See, i need to get a better read of two things. One of them is how many legs the u. S. Market continues to have and secondly, the speed of the recovery of the brazilian market which continues to be depressed. You see those coming out of the country and we need to see those moving forward. So lets wait until the end of september and then we will see if we will adjust. Silly talks a little bit about u. S. Demand and resilient demand. Willave to imagine there be some impact in the last month of the quarter. He doesnt sound all that hopeful. Tommaso here he is talking about the plan to raise more of the target. In july, they raise the target for the year because the First Quarter was bad. Is he said the new target conservative. So if he sees an improvement and probably at the end of september they are due for another upgrade of the target. Market ishe brazilian a big problem for fiat and the real question is, again, if u. S. Markets have reached the peak and when will they start to slow down . That is the main question. Mark always great to talk to you. Joining usardt today. Lets check in on the bloomberg first word news. At least 15 people are to after a suicide armor struck a wedding south of baghdad. Saidaqi suicide official five bombers took part in the attack and another four attackers were killed by security forces. Members ofrs were the islamic state. Spains acting Prime Minister is closing in on the number of votes needed to form a new government. The Peoples Party has sealed an agreement with the liberal party. Him 170 of the 176 votes he needs. The first round takes place tomorrow. Sandy Hook Elementary School reopened today, quarter years after the shooting rampage that killed children and educators. Students returned to a replacement of the old school on the same property. Who are now fourthgraders were students when the shooting occurred. The fbi is, reportedly warning election icials across the country foreign hackers have breached two state election databases recently. Homeland security has reportedly offered to assist with securing state voting systems. And beyonce was the big winner music awards. Eo she won eight awards. She performed five songs from her visual alb