President Trumps Communications may have been monitored during the transition period as part of collection. A News Conference today that communications appeared to be picked up through incidental collection and do not appear to be related to the ongoing fbi probe into trump associate contacts with russia. I have seen intelligence reports that show the president elect and its team were monitored. Mark he believes this was done legally. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. I am mark crumpton. This is bloomberg. Scarlet live from bloomberg World Headquarters in new york, i am scarlet fu. Joe we are 30 minutes from the close of trading in the u. S. Scarlet the dow added at one point but now it is stripping lower once again. Joe the question is what did you miss . Londonss worst terror attack in more than a decade left four people dead and more than 20 injured. Live report the day before the Republican Health care bill is set to vote before congress. The email of the publicly traded company. Talk about bad timing. They could jeopardize Oil Companies from accessing lines of credit. Defaults lead to more in the Energy Sector . Joe lets look at where the major averages stand as we head toward the close. Abigail doolittle is standing by. Downil we have the doubt fractionally, the s p 500 and the nasdaq are higher. As measured moments ago, the dow had turned higher and all three averages had been at session highs. It will be very interesting to see how these averages do closed. There was not much of a fear reaction, but what where we did see more of a reaction was the russell 2000 index down 8 10 of 1 right after the time the London Police did call the attack a little fear and we see the index is down marginally. All of this after yesterdays big selloff. The first 1 decline of the year since the 11th, s p 500, the dollar is trading down against that again. These haven assets have been rallying for multiple days. Investors, perhaps the smart early investors, were concerned before the selloff in stocks. It is important to keep an i on it here. There have been many strategists calling for a correction. A great note saying she still expects to see a pullback on the s p 500 to about 2280. We do go into bloomberg. This is the s p 500 on the top. We have shown the chart before showing it was an overbought territory that could signal a pullback. Ifwill be interesting to see all about 5 or so. Time will tell. Here is another chart. It represents the percentage degree the dow is above or below its 200 day moving average, basically telling us it is over or under extended. Most recently, more than 10 above. It tends to reverse revert to the mean. The dow is. 5 above the two large day moving average. It suggests there could actually butn official correction only time will tell. It is important to keep the technical sick signals. Londonss worst terror attack in more than decade left four people dead and 20 injured. Theresa may was in the lobby of and wase of commons promptly evacuated. A message of solidarity was sent to citizens earlier. People will be united working together to defeat those who would harm our shared values, values of democracy and tolerance, and the rule of law. Values symbolized by parliament. Values that will never be destroyed. Bloombergs London Bureau chief joins us now. The attack is symbolic, the bridge being the locations of these attacks. To we think there is a link to the upcoming brexit vote or is the tiny more tied to the oneyear anniversary of the terror attacks . What have you been hearing . It is hard to say. What is clear is the housing attack how the attack unfolded. Mow down some people, crashed and trying tong, take on the heavy security presence, Armed Police Presence armed to the knife. That is all we know. It is a bit early and it is a significant joe attack i think. Additionalind of security measures are currently in place . Police on the street, the train station, and the police chief said they may call , a step up and and fatah, it happened. Scarlet the acting deputy commissioner, lets look at what he said earlier. We are satisfied at this stage. It looks like there is one attacker. It is foolish to be overconfident early on. , we arenary basis locking down the area and doing the necessary searches to be completely confident that everyone is safe. As far as we can tell, members of parliament are in lockdown. Any sense of whether business will resume tomorrow, whether there is a normal day in Parliament Tomorrow . Yes. That is typical here. The general sense is to keep calm and carry on, do not let the attacks carry that is what we are seeing so far. Lawmakers were kept in the building for hours. Theresa may was voting at the away was whist whisked away. One thing i wanted to ask about was whether police have been asking for public support, they are crowdsourcing for photos and videos of the incident. Is that what typically happens in a situation like this . Quick to sayery this was a terrorist incident. It probably took about an hour from when the first shots. Ere fired in the early stages, they just said they were not even drawing conclusions as to whether the event on the bridge or parliament were connected. No one has said what kind of terrorist incident. Scarlet that is a good point. Us thank you for bringing the latest coming up, we will get the white house reaction to the terrorist attack in london. This is bloomberg. Scarlet getting back to the terror attack in london. We are joined on the phone from the state department. Our washington correspondent is at the white house with the latest. Lets start with you. Referenced by sean spicer at the daily press briefing, and the white house came out with a statement. Tell us the just of it. Trump had a phone call with the Prime Minister of u. K. , theresa may. He expressed support for how they doubled as a terror attack and said the u. S. Will provide full support of the u. K. Tries to investigate the full support of the u. S. Will be with the u. K. Throughout the entire process. It is a relationship President Trump and Prime Minister may have built in the last few weeks. Until that happens, he will support provide the support for this investigation. Just a few minutes ago issuing a statement saying the this, itt condemns makes no difference. The state department is not coming out and saying this is terrorism. Washingtonon is in for an event at the state department today. They were supposed to do a press standup a few minutes ago, canceled at the last minute and we are trying to figure out why. It was mentioned the president has offered full support to the u. K. Are we talking about shared intelligence or something more . I think it would be intelligence sharing. That is the cornerstone when it comes to cooperation on the two sides. It comes after the whole controversy were President Trump was echoing claims British Intelligence helped inspiring spying on him. It adds a curious wrinkle to the whole situation. What were seeing most is the shared intelligence from terror groups around the world. Do you expect to hear more from President Trump on this . In an official capacity or on twitter . Us to white house told stay tuned. We know the president twitter account has been used to make a lot of his comments and statements, so we will lock that closely but at this point, no plan for the president to a dress the press publicly, come out and make a statement on this. He may make a statement on twitter. It plays into the type of fear about terror and potential attacks on the homeland. It is something the president is focused on. Is there a sense the white house might try to react to this by imposing more as a showtravel bans of force in the u. S. And reinforcing the idea of borders . The white house has not been hesitant to implement some of those restrictions. Restrictions on a number of Different Airlines flying any carryon equipment larger than a cell phone, done in coordination with the u. K. Airlines flying in the middle east. Ban. Esitated on the travel no sense there is we will have to wait to see if that is something they decide to do. Next fromdo we expect the state department . Wait to see . Has horse thing, he johnson here, a meaning global the if there is any indication that comes out that the Islamic State was behind that, this would serve Rex Tillersons interest because he is trying to get other countries to do more. At the opening of the meeting, he said we are looking to you to contribute more. It is likely secretary tillerson would use the added sense of urgency to press for the changes the u. S. Wants. Scarlet do we have a sense of whether Donald Trumps visit will still take lace as planned . We expected to take place as planned. Scheduling the visit is because members of the u. K. Parliament are not happy with the idea of the president come the president coming. They have had to reschedule around the time where the parliament will not be in session. Later this year the president will visit the u. K. And we expect to see that troubled the sometime this fall. Scarlet thank you, our White House Correspondent and bloombergs correspondent reported joining us. Time now for a look at some of the biggest business stories in the news right now. The countrys come back from the class of 2013 is the economic success story. They have come back come down and come back up. We have got two consecutive years, a broadbased recovery coming under way. Cyprus is an example of how to get an economy back up. Triggeredection has shareholders to agree to negotiations. The coding company turned down 20 2. 2 billion officer offer, which would lead to job cuts. They should begin talks with the u. S. Competitor and the firm may try to Houston Management if they refuse. Responding to pressure from a shareholder on management, ge is by 1ng its target billion to 24 billion. Bonuses to the new target. Investor, fitting ge management in the past month. Plan to hire investment banks for different stages of its monster i according to four people with knowledge of the matter who say that talking to banks regarding a Financial Advisor role reviewing potential listing that excels, banks in the role will be considered for subsequent stages, including underwriter. Goldman sachs and hsbc are said to be invited. That is your Bloomberg Business flash scarlet . , the power of populism in the west. Joe has a ready for us. From new york, this is bloomberg. Scarlet this is a great chart Jonathan Ferro it is so good i could not use it. See,lue line, as you will it is a yield highyield Energy Companies index. Historically pretty low. To these levels in late 2014 when oil prices were around 80 per barrel. We have not seen since 2014, oil prices 16 higher at the time. It could signal potential risk at the market. When will face pressures oil was at a dollars per barrel. Investors believe these companies have cut costs, the optimistic take. I am looking at the relationship between the vix, the white line, and stock volume. They sometimes move in concert and you sometimes see the volume shoot up with the vix. We still have not seen much of a vix spike yesterday. We do have volume picking up. It is an interesting disconnect emerging. Cio into bring in the minneapolis. Thank you for joining us. Desperate to find, are we finally going to have volatility, are we going to break out the complacency, 1 yesterday, is it just not a big deal . Quietin the general pattern . Knows what triggers these things. We had noted that the really otherm senator work related options measures, are part of that. The short work had gotten very frothy, dating back to the high made on the s p and every other. Ajor index it triggered a lot of excitement and you could see it in the mutual fund flows and that sort of thing. The elevated level of optimism made need to be host down a bit. Work, gotal cycle figure, you know, we have a big selloff yesterday. That work may have something to do with it but i think it has more to do with psychology vote, than the republican obamacare revisions due out tomorrow. So many people are wondering why they are reflecting we like to look at implied volatility. You are drawing that out of options prices and comparing that to reallife volatility,hich has been extremely low very low trailing and 13 and six month basis. Implied volatility is where it should be. Impliedat one month volatility versus threemonth implied volatility. When you see people getting agitated, the onemonth relative , we have not seen that for quite some time. It would not surprise me if we slid, that you would see a spike be myt vix, that would view now. Scarlet the market closes next. Four minutes to go until the close. Scarlet moments away from the closing bell. Whatd you miss . Stock suffering their first decline since october. And tech shares rallying. Im scarlet fu. Joe im joe weisenthal. We want to welcome you to our closing bell coverage every weekday. Scarlet we begin with our market minute. A slow day in equities. Fallingrady pretty dramatic moves yesterday. Joe it is amusing how everybody is like is this the correction. , homee did have some data sales falling more than expected. That did not seem to have too much bearing on how markets traded today. In terms of the movers for the s p 500, you have tech industrials and utilities leading the way higher. Telecoms the big losers here. Moving,ls barely yesterday was when they got punished. That was the big loser yesterday. In terms of individual movers nike had its biggest drop since june of 2012. North american futures owners missed analyst estimates. The stock down more than 7 . Acknowledged some data about its future and used the words growing concern. And snap up 7 . Joe lets look at u. S. Government bonds. The story continues. Lower yields for much of the day. For much of the day we were the order lower than that. Even with the gains the lower yields in u. S. Is the story now. Scarlet lets start with the pound. It was a wobbly day. It broke above 1 25 after inflation data. Then the gains faded. Then you see the big leg up and down, gyrations on the headlines of the terror attack near the houses of parliament. High. N at a fresh 2017 you can see it is stronger the dollareuro and as well. Mention of the rand. Inflation slowed for a second month. If you look at it over a longer term, the rand added 19 month high versus the dollar. Extending its recent gains in the coming months. Joe finally on commodities lets look at oil and gold. Not much going on. Gold up a little bit. Oil basically flat on the day. If we look at a onemonth chart of gold you see it is getting close to its highest level in a month. Those are todays market minutes. We want to take a look at the bloomberg. I wanted to focus on the japanese yen. It is on a bit of a winning streak. The longest winning streak in two months with the dollar depreciating. Losing value. It has broken to previous bottoms this year. The red line shows how we broke the low. It is now at levels seen in november. What is the next stop . 110 86. We are still above 111 at the moment. We are looking at this holistically. Scarlet theres two stories here. Joe the yen is also one of the core safe haven currencies. If there is a flight to safety historically would see semyon buying. Some yen buying. Stocks, down to the wire, one of the most anticipated votes in a long time since the debt ceiling votes we had. Nobody knows what is going to happen. We have seen weakness in the health care stocks. Momentum in fading the health care stocks. If the government is going to be subsidizing how Less Health Care health care would like that. Keep an i on these stocks. These are fading. All day watching this vote, every trader is keyed into this. It should be interesting. To the latest on the london terror attack, the worst since 2005. Rob hutton was in parliament when the first attack occurred. Thank you. Where do we stand right now . That im in ais crowd of people who have just finally been allowed to leave parliament, which is the final signal this attack is judged to be over. Police are still in front of me taking statements from everyone who left. I can see members of parliament, the house of lords. They are all standing around in the roads. People are allowed to stand in the roads indicate it is judged to be safe. We did hear from the acting commissioner at Scotland Yard that people will see next to Police Officers armed on the streets working extra hours. Security innse of the area surrounding westminster. Clearly that is going to be stepped up. How sick with security is it . This is one of the worlds leading terrorist targets. Have known that for a long time. Over the decade and a half i have worked here i have seen the security being stepped up. 20 years ago you could walk into Parliament Without being searched. I used to have lunch in the canteen. Now you would not get in without a search. Armed police on all the entrances. Whats happened is a lot of invisible security, walls that look innocent but if you see them put him they have deep metal foundations to stop a vehicle attack like this against the building. Im standing leaning against a waist high barrier that runs alongside one side of parliament designed to stop someone trying to crash into the building. Then theres the layer of security that those of us who dont know about. The officer who shot the attacker today was a plainclothes officer. Not haveho you may been aware of as you were walking in. Joe where does things stand with how this affects the calendar Going Forward . I dont think it will very much. It is business as usual. Keep calm and carry on. We are expecting parliament to sit tomorrow as usual. I expect there will be tributes paid to the officer who gave his life. I would expect Parliamentary Business in terms of the calendar and brexit, i would expect that to continue as expected. It is supposed to be a week from now when the u. K. Triggers the brexit proceedings.