Policies. They airline will offer as much as 10,000 to customers who voluntarily give up their seats on an overbooked flight. And it will not call in Law Enforcement unless safety and security are at risk. President Vladimir Putin says that crisis over north koreas Weapons Program continues to escalate. That is after the issue dominated talks with japanese Prime Minister shinzo abe in moscow. Advocatingutin is all sides refrain from military rhetoric. They discussed a longstanding dispute over islands seized by the former soviet union after world war ii. Bastad both sides have still not signed a peace accord. On the police. Carrying out an operation today targeted a man they said was carrying knives a man carrying knives in a bag. London metropolitan police said the 27yearold man was stopped and attained in what they called part of an ongoing operation by the forces counterterrorism unit. No injuries were reported. Global news 24 hours a day, powered by more than 2600 journalists and analysts in over 120 countries. Im mark crumpton. This is bloomberg. Yvonne live from new york, i am scarlet fu. Joe we are 30 minutes from the close of trading here in the u. S. Scarlet u. S. Stocks cleaning to gains. Joe the question is what you miss . Scarlet President Trump hosted mario macri today. Struggling to get to yes, House Republicans face pressure. We will hear from mark meadows from North Carolina and the leader of the Freedom Caucus this hour. Earnings bonanza after the valve. Tout the bad, microsoft alphabet, amazon, and microsoft. At where thes look major averages stand. Abigail doolittle is standing by. Veryil we are looking at small gains for the dow and the s p 500 index. 4 nasdaq is a bit higher, of 1 . Putting in another intraday record high. For the dow and the s p 500, and the nasdaq, do, this could reflect a wait and see attitude ahead of earnings reports after the bell, i should say. For the nasdaq, with these record highs, we have the nasdaq closing above 6000 for the first time. This does stand in for a couple of reasons beyond a big run number. First, it has been more than 17 years since the last time the nasdaq closed above the last may ground number of 5000. That happened back in march of 2000. We finally have 6000 achieved. For the nasdaqon today is equivalent to a combination of five different valuation metrics all that the way back to 1997. There are some managers who call it a bubble. If that is the case, we are nowhere near the top of the dot com bubble around 2000. Surprisingly, lots of those to nasdaq names taking us 6000, including apple, facebook, amazon, out of it and microsoft. Apple and facebook report next week. Amazon, alphabets, and microsoft report after the bell today. Microsoft could have their best quarter on both the clot and servers. Amazon is the cloud that is performing the best. Investors think the rapport could be very strong, up 1 , up more than 1 . On pace for its best day in two weeks. Earnings have come down. The First Quarter earnings consensus estimate has come down 30 to 2. 38 for this quarter. Because of this, one Analyst Thinks it leaves room for amazon to beat. But the big question for this company is whether or not they reduce guidance for investment for future growth. Positiveappens, its a thing, since their footprint in the cloud is still relatively small and would pay off over the longterm. Joe thanks. Earlier today, President Trump met with argentine president Mauricio Macri. They had a working lunch where trump raised macri for implementing successful Economic Reforms and says argentina is on an incredible economic path. I want to bring in shannon know neil shannon oneill. Thank you for joining us. I am curious about that characterization of argentinas economy. 2018, what doinr you think of the state of the economy now . Shannon he devalued the Exchange Rate. He opened up capital markets. He finally solve the debtors crisis that had been going on for at least a decade with many new york institutions. He got rid of export taxes. He got back so much of the intervention that was in the previous government. He really has changed the economy, made or market friendly. It has not reacted as quickly as he had hoped. Last three months or so, it is coming out of recession and starting to grow again. Process basedslow on these reforms. Scarlet that is the backdrop as he meets with President Trump. Reseau matt graves beat mexico and brazil by paying a visit to donald trump Mauricio Macri beat mexico and brazil by paying a visit to donald trump. Why is this significant . Shannon the mexican president was supposed to come and famously had to cancel when nafta dispute riled its head. What is significant is for was isolatedw it from the International Realm and the United States in particular years. Y we saw obama go down there in his last months and meet with the argentine president , the first time an american president had been done in over a decade. This is a pragmatic president. It is a pragmatic country it is a marketfriendly country. It is trying to get back in the good graces of the Morgan Stanley index and all of those things. So its good for Mauricio Macri show. Gentina to joe so what are the lemons . Argentina is one of the biggest exporters of lemons in the world. Joe what was the dispute about argentine lemons and why has the Trump Administration seem to fit to change the policy . Shannon some of it was sanitary issues. Some of it was. Taxes and subsidies. Was it a fair trade with the United States . Obama had been reviewing it and had decided to let the lemons in. And then trump stops that. Looks after this meeting, he seems favorably disposed. You can buy an argentine lemon. Mari so macri and trump have a history together. They have a relationship that goes back a couple of decades. They are both in the construction and real estate industry. Do we assume they speak the same religion can get deals done . Shannon i think that will history will be health over argentina. Trump seems to trust those that he has known in different settings, that he has no for a long time. He seems to respect Mauricio Macri. Onetimed, mary so macri played him one time, mary so macri Macri Mauricio played him in golf and beat him. The next time, he let him when. Joe there remains a lot of tension about the collapse of the economy as well as the debt payments. What is going to give here . Shannon that is the big question. A big debt payment at the beginning of april, 2 billion. They seem to continue to be paying. The economic crisis, the social crisis, the political crisis is rising. We are starting to see the International Community step in and condemn venezuela. The death of these protesters. The organization of american states, they, too, have been pushing to sanction venezuela. Saiduela just yesterday they will leave the organization of american states, worried that they would be kicked out. Scarlet a lot of people say, by leaving the organization, its neighbors no longer have the ability to influence the country. It becomes more of a pariah than ever. Shannon they have a democratic charter. To be part of the organization, you have to be a democracy. They would be kicked out for undemocratic policies. Scarlet maduro has become more autocratic over the years. Dont think there is a spillover in autocratic policies practices, but a spillover of refugees from the economic crisis. We see tens and hundreds of thousands of people going into brazil. If the crisis were to get worse, you can see perhaps even millions going to those nations that would have to absorb them. Joe can you think of a modern analog to the situation like venezuela, where it appears that the main story is just an redible level of economic taking the country even lower in its Economic Standing . Shannon the pessimistic comparison would be zimbabwe. No matter what happens with inflation, with the economy, they stake in. Im not sure maduro has the ability to sue so to do so, and i hope not. Scarlet thank you so much. Coming up, House Republican leaders still dont know if they still still dont know if they have enough votes to pass a Health Care Reform bill. We spoke with mark meadows. Get his take next. This is bloomberg. Whatd you miss. Scarlet representative mark meadows says that the house is short of the votes it needs for the healthcare reform bill to pass. Rep. Meadows on saturday, certainly the votes will be there. As late as last night and again this morning, some of those undecided members of congress, primarily on the republican side that is all we are counting on at this point are so close to yes that i am optimistic. Whether the vote is tomorrow or saturday or next week, the votes will be there to actually pass the senate. Its not necessarily a more conservative bill. It is a bill that lowers premiums to the american people, allows us to get onto tax reform in a very quick fashion in the coming days. Kevin the votes are there from the house Freedom Caucus as well as the republicans in the house of representatives . I appreciate you clarifying that. From the house Freedom Caucus, we took an official position. More than 80 of our members are on board. Its a little bit more than that. Count,n a previous whip as long as we dont have anymore defections, i think we will be there. Kevin do you anticipate there will be a vote on friday or saturday . Rep. Meadows we are cautious to not set and unrest an unrealistic expectation. Month. D to vote last we just needed to make sure we got it right for the america people. Yes, if we have to stay here and vote on it on saturday on behalf of the mecca people, we are committed to do that of the american people, we are committed to do that. You speak with the le rep. Meadows calling talking with someone in the administration, whether the president. R the vice we have had nice communication with the Vice President a number of times over the last three days. The president and the Vice President have been all hands on deck. Kevin so Vice President pence has been extremely influential. Rep. Meadows if your viewers and listeners understood the level of engagement from the white house, they would be astonished. I am. Normally, those negotiations happen at a staff level. But these have been really at the highest level. Its important. It is a Campaign Promise they want to fulfill. Labeled thehas been macarthur meadows amendment, so to speak. Tell our viewers what exactly would do. Rep. Meadows it is really tom mcarthurs amendment. I spent a lot of time with tom, but i want to make sure he gets really the credit. It was his willingness to engage when negotiations broke down. It was to members of Congress Getting together to represent two very different districts. This allows states and those governors of those states to waive out of some of the obamacare federal mandates. So it holds the decisions back to the states, allows premiums to come down. In fact, we have some independent analysis that would indicate as much as 36 drop in some of our premiums. So we are encouraged by that. That was a big thing for the Freedom Caucus. Scarlet that was house Freedom Caucus chairman mark meadows. Joe time now for the Bloomberg Business flash. A look at some of the biggest business stories in the news right now. Dow chemical is considering ceos retirement until the company has merged with dupont. Has been delayed by International Antitrust approvals that is expect but is excited to close in august. Earlier today, dow posted Beat Estimates for a Third Straight quarter. The supplements and vitamins vendor isnt offering enough compensation for them to stay on the hook another three years. Investors reportedly want more yield and better protections in the long [indiscernible] demand for a structuring service declined in the First Quarter. Net income fell 54 after an anticipated jump in business in trouble companies failed to materialize. The restructuring unit also posted a drop in revenue. Homes in the hamptons are selling again, by buyers are not splurging on mansions. Purchases rose 8 in the First Quarter compared to a year earlier. Meantime, sales on the highend, only 27 homes sold. That is your Bloomberg Business flash. Scarlet coming up next, a huge day in tech earnings with to report after the bell. This is bloomberg. Scarlet im scarlet fu. Alphabet close at a record high yesterday. The company this past quarter was hit by a youtube advertising controversy. Companies like at t and Johnson Johnson briefly halted spending, citing concerns that their ads would run alongside offensive videos. And a threat to advertising is used for a hub it. Though Google Division dominates the digital at industry. Along with facebook, digital ad industry. Along with facebook, it owns 60 of the market. Properties, youtube and google search, have played a major role in the rise of advertising. Internet ads and videos are set to outpace tv ads fairly soon. Outside of advertising, and increasing contribution from Cloud Services should continue to grow alphabet. Dont be surprised by a surprising earnings. It uses since 2012, alphabet has missed consensus Sales Estimates in the First Quarter. Analysts do not expect the youtube controversy to affect them this time. We will be following alphabets earnings when they are released in just a couple of minutes. Joe now to talk more about those imminent tech earnings. Lets bring in alastair. Thank you for joining us. Scarlet talked about some of the specifics of these companies. Extraordinary outperformance in the market for big cap tech these days. Explain the love and enthusiasm for all these names and how high the bar has been set for them overall . Alastair its all about sphere,e in the digital how much time we spend on our smartphones and what companies are in control of those eyeballs, and who can sell ads against those eyeballs. If you are going to spend money, amazon is there. If you are going to do something online when you are at work, project would be productivity suites, microsoft is there. Scarlet for google specifically, or i should say alphabet i still have to get used to that it will start emphasizing gap earnings instead of adjusted earnings. Right. R thats a lot of these Internet Company started doing that. Google and facebook and others did that last year. Thing. Competitive a lot of the weaker Internet Companies and some of the startups issue a lot of stockbased compensation. When you exclude that, it makes the numbers look great. A company like alphabet will stop adjusting its earnings to that. They are making so much money, it wont really matter to them. It will make everyone else look a little bit worse. Joe lets talk about amazon. Lots of interest how much cash the web service is doing. The stock seems to go straight up all the time. What do they have to do to continue to impress . Alastair it is always the case of Revenue Growth and spending on the other side, and wall street sometimes cant make up its mind on which one they like and which one they hate. This quarter, people will be looking at spending on things like big movies and tv shows that amazon is doing, new gadgets that they are releasing and warehouse spending, which they are always doing. Will theeally is gravity of growth be Strong Enough to outweigh all that spending . Scarlet on microsoft, it is all about the cloud and how much that powers the profitability outlook. Alastair thats right. Even just two years ago, this company there was a lot of doubts over whether they could do well in the cloud. Allthey are showing that the software used to buy on discs, we are getting it through Microsoft Cloud Service now. That is one of those huge shifts that they are riding really well. Next. T the market closes we are looking at little changed for the dow ended the s p. The nasdaq is set to close at a record high. This is bloomberg. Scarlet what did you miss u. S. Stocks limping to the close. Little change well the nasdaq closes at another record high. Im scarlet fu. Joe im chosen weisenthal. We want to welcome you to our closing bell coverage from 4 00 to 5 00 every weekday. What did you miss today is the busiest day of the earning season. Major tech giants like alphabet and amazon will be reporting any moment. , want to bring in paul sweeney north american director of research, and a bloomberg gadfly columnist. Paul, lets begin with you. What is the key thing for you to see . Paul google and amazon, a topline story. Google has brought the advertisers with them. This country has been able to put up some very solid numbers quarters. Ral cover it has really put up a good profit story. I think investors have good executions for this quarter. The amazon story is a lot more variable, a lot more unknowns as far as how aggressive they will be on the investment spending. Joe let me