Very quiet. Yeah. And followed by the Rate Decision at 2 00. No press conference today, right . No. No change expected. But they might change a wording. Well get geeky on it. Earnings before the bell, he is in that deal potentially. And hess is in that deal. Whole food and yelp. President obama speaking. Did you make note on the fed coverage. Betty and i will speak with Alan Greenspan. Ive not some tough questions ith him. Let me do a quick data check here. Looking at stocks, bonds, currencies and commodities. We fluttered around 1966 on s p futures. He euro, 133 handle. On to the next screen. In the vb6 pop yesterday, vix, pop yesterday, further lattening. All in all, a weaker ruble given the new sanction. One of our theme today. And yen is weaker as well. Lets go look at Vladimir Putins world. This is the volatility of the ruble. And weve redone that year with a weaker ruble in the last one, two, three days. This is the market voting on the sanctions. And particularly that impact on the oil economy. In other words, the dollar is buying you more ruble which is a weakening ruble. Lets get to our front page where we start with mr. Putin. Looking at the newspapers and the webpages, we welcome back scarlet fu. Im back, well rested. The thing with the sanction is even though they were announced yesterday, people have been anticipating them for days. Some of the reaction that we saw, a delayed reaction. Russia reacting to those news sanctions, part of an ongoing attempt to get putin to change his behavior on support for rebels fighting in ukraine. I know we talked about the weaker ruble, but following the news, the ruble strengthened a little bit because some were saying that rally to be shortlived. Its down about 5 for the month. Peter baker in the New York Times really emphasizing the oil impact here. , give you an idea, exxon where siberia comes into the end of russia, its like where santa claus is from. And theyre going in there right now to drill offshore on the dge of the arctic sea. Theres an irony because european companies, because european governments are not allowed to effectively export equipment for the oil and gas industry to russia. And yet europe needs russian oil. It gets 30 of its oil from ussia. Lets get to our next story. Ian bremer will be here to analyze our sanctions. Ore attacks on gaza overnight. Israel is looking into the report. In terms of the death count, more than 1,200 palestinians. Somewhat i hate to say this, a quiet day versus the horrific sunday we saw. Yeah. But nevertheless, still fighting. And more people dying. We will continue to monitor that situation. And moving to the Corporate News front. Twitter. Shares of twitter soaring in the market. Up 27 . And rose as much as 35 because the Second Quarter report seem to ease concerns that growth was slowing at twitter. User growth of 24 hkt to 271 million. Second quarter revenue more than doubled. But twitter not profitable. The morning i thought it was the world cup. You were riffed to the world cup, tweeting out on 69th street. I was. And following the tweeting adam johnson tweeting. I had my fourth today. It got really hot. Twitter doesnt say that the world cup did anything for its results. Youre looking at more sustainable drivers on growth overall. That is our front page for this morning. Over to adam. Lets go gio political here for a moment. The death count rising about 1,200. Have these overnight deaths done anything to bring either side closer to the bargaining table . They havent, adam. And that shedding of a u. S. Run school in gaza was actually about 3,000 palestinians, more than 3,000 have sought shelter there and 220 were killed and more than 50 injured. It happened about 4 30 a. M. Local time. So were talking about some seven hours ago or nine hours ago. I dont think its going to change anything at all. Any hopes that were inching toward the ceasefire, we thought we were going in the opposite direction. There were some doubt as to whether that shell is from the israeli side or the hamas rocket. Do we have any clarity on that . The Israeli Armed force are saying they are looking into it. There was a shelling the other day which hit a school in which the israeli said was the fault of hamas militants. Its not said that it wasnt responsible for this mornings attacks. It is looking into that to see exactly what happened. We spoke to the minister to the israeli government. They were going into the security cabinet meeting. What was discussed there . What is new of the leadership of him . Theres nothing new yet. Theres another meeting to discuss the next steps of this operation in gaza. There are some course such as former president stepped down just the other day saying that the goals of this mission in gaza, namely the destruction of these tunnels have pretty much been completed so it was just a question of what kind of ceasefire is to had. And he said to prepare for a Long Campaign and he looks for that front to be delivering. Is it beneficial for secretary kerry to visit israel right now . Is that a good thing for the United States . Is that a good thing for israel . It depends how thick his skin is. He said he dealt with the criticism hes received. Im not quite sure what it would add at this stage. You clearly need to have someone to mediate some kind of ceasefire. Perhaps the Palestinian Authority holds the main cards here. Maybe the solution to whats going on and perhaps have him in charge of the border with gaza. Right now, a lot of misinformation about a ceasefire about to be agreed and whatnot. Always seem to come to i dont think a ceasefire is on the table right now or any time soon. While the world hopes out hope, thank you, elliott. I think its time to ask our twitter question of the day, which is what should john kerrys priority be if what should he be focusing on right now . Is it israel . Is it argentina . Is it ukraine . What is he going to india for . New government and to shore up elections, literally, to show the flag. Isnt it a little late . Hes got fires to put out. And maybe one to stoke in india. Thats a big economy. It matters to the u. S. Our guest host this morning will make you smarter and more prepared for this busy wednesday. Us. Iam janeway is here with and a chief invest p. M. Officer with a wonderful overlie of geo politics and investments rights now. Are these sanctions and investment gamechanger for the billons of dollars moving back and forth between europe and russia . I think it is a gamechanger in that what they create is opportunities. And where we see opportunity is to an asset profit is reacting more strongly than whats implied in the sanctions. Its really up to finding value. Really, i think the opportunities in europe because theres been selloffs there but there are understand merging which are not impacted by this sanctions. What have you seen as the moral investment in russia . Jim graham was quite eloquent. Hes got a look at these stock tradings and he did debate. Theres an issue about the when of new investment in russia. Is there a moral issue for investment professionals like you . In terms of it being a moral issue, for us, its more about finding the value and find the finding the opportunities. Its the legal issue and the investment issue and is there an opportunity there . All right. We want to get to our other top story of the day because youre seeing plenty of opportunities in twitter. Shares are up 29 to 4982 in the premarket. We want to bring in bill janeway. With twitter, what i found really interesting is dick cost low talking about the search is larger than the monthly user because a lot of people use twitter without actually logging in. And he says thats a very valuable demographic. Were in the early stages of experimenting. Now that weve spent 50 years trying to construct computers that work and that are distributed and that are mobile, weve got the infrastructure, now is the time for experimentation. Twitter is a prime example of experimenting on the frontier. We know one of the killer apps is advertising. Mobile advertising, where the locationle services are, are integrated with social media, its clearly big. Its clearly going to grow. Its going to go way much further than it already has. Places in china and in some respects are already ahead of s. But anybody who is looking for some kind of deterministic predictable path forward whether its the level of the individual company or total advertising spending is in dream land. The way i think about this, its like are these nonviable business . Twitter is only making pennies. What matters is positive cash flow. That two cents, sure, its after all sorts of accounting stuff, stock option charges but positive cash flow. Right. And theyre at the point when they get there, they then have choices. They then have choices. They can crank up the cost of consumer of getting consumers or they and build more structure. We have a lot to talk about on this wednesday, particularly looking at the American Economy with that g. D. P. Report out of 8 30. We got a lot coming up. E u. S. And e. U. Increasing sanctions on russia. We will be speaking with ian bremer. This is surveillance, tom, a. J. And i will be right back. This is bloomberg surveillance in new york city. Coming up later this morning, betty lui and i will interview Alan Greenspan. I want to ask him about are we going to see Interest Rates go up quickly or will they be up in a measured manner . 9 00 a. M. This morning on Bloomberg Television and bloomberg radio, worldwide, greenspan as we can do it with some tough, tough questions. This is bloomberg surveillance. Good morning. Im tom keene. Lots to talk about. Lets get to russia. Sanctions only work when they effect the foundation of an economy. The European Union and the United States coordinate sanctions and go after russias very heart and soul, Russias Energy future. Ian bremer is the author of every nation for itself. Is russia now a nation isolated and for itself . For itself, yes, but thats not new. Isolated, absolutely not. Markets went up on this. I kind of see germany, britain and france a little bit like those three monkeys, you know, the hear no evil, say no evil, see no evil. The germans dont want to do sanctions. The france dont want do defense sanctions. And even after you have almost 300 civilians dead, knocked down by this plane in southeast ukraine, theres still an enormous unwillingness to hurt their economies. And the russian know that no ones going to go after them sufficiently to move them off the diamond, ukraine. Thats why were on this pattern of very long playing out. Without the incrementalness and the study of your angsts, would you suggest russia will retaliate as soon as today or will mr. Putin counsel patients . It depends on what you mean by retaliate. I think they do not want to engage in tit for tat sanctions. The putin strategy has been working more effectively with the plane going down the europeans have move closer to the u. S. Policy but putins game is a long game. So hes going to want overtime. The europeans are a lot weaker than the americans on these issues and hes going to want to ensure theres as much delaet on these sanctions. I would be surprised that he puts a lot of sanctions there. But his actions on the ground especially with elections coming if hee to show his mettle wants to win. The russians are going to react i think more strongly there. And that means more weapons to the separatist on the ground and probably more fighting across the border as the americans have said theyve started to see. Its a hypocrisy in it that the european governments have told exporters of Energy Equipment you cant sell to russia and yet the europeans need russia because thats where they get 34 of their net gas. How does that resolve . There was a movement here. Despite all of the economic desire of the europeans to do as little as possible with russia, they felt the need to respond heavily. And lets face it. For the dutch government, this is a 911 9 11 moment. This is all you see all day, all night in the dutch press. Its a National Tragedy of such an enormous gale scale. D the europeans thought they are going to react for that. And the strong unwillingness of the European Industry to continue on this path and the difficulty of get the europeans to coordinate on anything given how many governments, how many different interests puts putin in a stronger position. I want to get your thoughts on whats happening with gaza. David brooks of the New York Times wrote something indicating this is more of a roxy war than a contained struggle between the israelis and the palestinians. To what extent do you see this as proxy war between egypt and hamas in which they take shots at israel to gain advantage over each other . Well, i take david brookss point that if you want to understand israel palestine, you have to understand it in a Better Process but the timing of israel going after hamas is in part because its become less of a proxy war. The old Egyptian Government with the Muslim Brotherhood and mr. Morsi was much more sympathetic to hamas. They consider hamas a terrorist organization. They have given them less because the saudis have whacked them. And they havent soon as much support from all the checks theyve written. So i think theres a little less of that going on in this very direct consulate. Ian bremer, thank you very much. Adam . Coming up, we are going to be counting down to argentinas default deadline. Youre going to hear from our reporter on the ground. Its all coming up in the next hour. This is bloomberg surveillance on Bloomberg Television. We are glad youre with us. Good morning. Food fed day. Lets get to our morning mustread and scarlet has that this morning. Its from l. A. Clippers interim c. E. O. Dick parsons. Hes had quite the storied career. He was talking yesterday to our trish regan about the sale of the l. A. Clippers and heres what he said about shelly sterling. One of the things that the judge found was that shelley had the right as the sole trustee to commit to the sale to steve ballmer. She gave the nba a blanket indemnity that says if we get this sale done, you know, donald continues to sue and carry on, the trust or the assets that were in the trust will stand wind and indemnify the nba. So hes really suing himself. So this deal should be completed by the end of next month. Steve ballmer will be the new owner of the l. A. Clippers . What is the final price . Its move the valuation of the knicks way up high. One cannot help but wonder whats happening to the miami heat. Youre a stone thrower from miami. I guess that makes you a miami fan. Whats the word about losing lebron and what its worth . Were still worrying as to whether the miami hit will make it to the finals. Thats the worry. Its now 501 odds. Right . Literally, its 501 odds. No lebron, no title. Yeah. No lebron, no title. Period. Ill take the other side of that. Interesting. It is a fed day with the press conference free fed day. We will speak with greene depreen in the 9 00 hour. Betty lui and i in a conversation with the former chairman of the Federal Reserve. Stay with us worldwide. Its bloomberg surveillance. Good morning. Good morning, everyone. Futures up four. New york citys trying to get up on a perfect summers day. Theres a new building there thats on park avenue. Its gorgeous. Its controversial. Its gotten so tall now, it goes right out of our shot. Its like its getting bigger. Theres another Tall Building over there, changing the landscape of new york city. Youve seen me out on twitter calling it the ugly. Subject to opinion. Some people dont agree with that with me. In the middle of the shot is the famous skyscraper from the movie, network from many decades ago. Well done. I didnt know that. Its from the movie scarlet fu has company news. We get started with mcdonalds vowing to fight a government ruling saying it would hurt thousands of small businesses. The decision coming from the National LaborRelations Board saying mcdonalds should Share Liability by franchise owners. The policy could switch the way of unionizing. A state regulator wants to see if theres manipulation. Deutsche bank and barclays are targeted. People close to the investigation in new york say that early findings point to problems at both of those institutions. And barclays bounce back to profitability. It posted income of 273 million, reversed a large loss in the same period last year. They cut cost as well as 7,000 jobs. That is this mornings company news. Scarlet, today marks the final day in a 13year battle over argentina. The country has a few hours to make good on u. S. Bondholders. If not the country could trigger default on its entire 29 billion worth of current debt and that would send ripple effects. We have a chief Investment Officer based out of the bahamas. He knows a thing or two about global cash flow. If this happens, if theres bankruptcy tonight, how do u. S. Banks conduct business tomorrow morning . Its quite a separate issue. And theres an issue with argentinas default that we need to address. And thats not on the u. S. Bank but investors globally need to realize with some of the risks associated with it. And particularly at the moment, those assets have gotten quite expensive. So is this potentially a catalyst that becomes a wakeup call in a larger sense . Absolutely but there are other catalysts that will coming as well. Weve got the fed meeting today the fed which is reducing liquidity across the world and liquidity growth across the world and we know that the clock is ticking for emerging markets for commodities. We know thats happening over the next at least 12 months and probably for longer than that. So that declining global liquidity is is what investors have to wake up to. I know this is fancy finance. Its about hedge funds. Argentina is 2,300 miles long. Its long, long, long, away from buenos aires, away from the banks. Does anybody in argentina care about this debate and its potential default . I think they care about it in that theyre already in economic recession. Economi