Broadcasting live to New York, Bloomberg even, to Washington, d C. Bloomberg to Boston, Bloomberg twelve hundred, to San Francisco, Bloomberg nine, to the countries six General one nine and around the globe the Bloomberg Radio Plus happened. Bloomberg Dot gone. This is taking stock. Coming up on taking stock, we'll take stock of the Republican National Convention taking place in Cleveland, Ohio, where we're speaking with Justin Sink, government reporter for Bloomberg News.
The latest on Donald Trump and the Republican Convention. Right now, let's get the latest from Charlie Pellett in the Bloomberg News room. And I think you very much, pim Fox. We've got to just under thirty minutes to go ahead of the clothes. On this Tuesday, the Dow Jones Industrial Average is higher. It is up now by seven points to eighteen thousand, five hundred forty. That is a gain of less than point one per cent, So the Dow on track four another record, if we do have a
positive close. The SMP down five now sixty one, taking a breather, down three tenths of one percent. NASDAX slumping twenty two points to drop there of five tenths of one percent, so the SMP slipping from a record after a mix of corporate earnings reports, the recent record run for equities hitting some headwinds, Netflix tumbling fourteen percent after subscriber growth disappointed. Yahoo shares are up now by six
tenths of one percent. Quarterly revenue topped analysts estimates. Yahoo recorded charges of four hundred eighty two million dollars relating to Tumbler, citing a decline and projected operating results and cash flow from the blogging service, which the company acquired for one point one billion dollars back in two thousand thirteen. Colin Gillis is senior Technology analyst of d GC Partners.
He was interviewed this morning on the Bloomberg advantage. Is a good time because it shows up they're cleaning up their balance sheet. The fact that they didn't adjust the full year guidance, you know, it's another indication that perhaps they see a process happening in you know, relatively quickly. Management tried to defend their performance, which is a little tusk given that that's the same quarter you are doing right down on the deal that you did again. Yahoo
shares up six tenths of one percent. International military funds scrapping its forecast for a pickup in global growth this year's citing Britain's vote to leave the European Union down, Industrials up ten little change, Their SMP down five a drop of point two percent, NASA stackdown twenty two, a drop of point four percent. Gold up to night the ounce two, the ounce three thirty two on Wall Street. Now look at other news from around the world. Thank you,
Charlie from the Bloomberg Newsroom. I'm Jill Schneider. This news update is brought to you by the Jeep Grand Cherokee, the most awarded suv ever. The Grand Cherokee continues to raise the bar with its luxurious interior and legendary four by four capability. Drive one your local Jeep dealer today. How Speaker Paul Ryan told a group of Taxes delegates today that they are either with Donald Trump or against him.
It is either Donald Trump or Hillary Clinton. If you're not for Donald Trump, if you're not voting, if you're not showing up, you're hupping Hillary Clinton. Is just pretty much like we're Ryan will be amongst several congressional leaders taking the stage in Cleveland tonight. It looks like there's more activity from North Korea. Bloomberg's Michael Barr has more. South Korea is accusing North Korea of a reckless provocation
after test firing three ballistic missiles into the sea. Military officials in Soul believe two of the missiles were short range stud like missiles. The third might be an intermediate range missile that could travel up to kilometers or eight hundred miles beyond. Yang's latest test firing is an apparent protest of Soul's decision to allow the deployment of an advanced US missile defense system in the country. Michael Barr Bloomberg Radio. The Obama administration is asking the Supreme Court
for a second chance on Emma ration. The courts four to four deadlock blocked the White House plan to shield millions of immigrants from deportation. A United Airlines jetliner bound for Boston returned to the gate this morning at Newark Airport after reports of smoke coming from an engine just before takeoff. The Boeing seven thirty seven was removed from service and United substituted another plane for the flight. Global News twenty four hours a day, powered by more than
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on Bloomberg Radio. Feuds and unforced or is at the Republican National Convention. Joining us now, Justin sink, government reporter, Bloomberg News, joining us from Cleveland, Ohio, site of the Republican Convention. Justin, Let's begin with Donald Trump's campaign to in a sense, control the damage or the blame game that has intensified over who was responsible for the perhaps
plagiarism flap surrounding milani A. Trump's primetime speech last night. Yeah, we've heard the campaign sort of immediately take aim at two parties. First, Hillary Clinton. They're saying that this is emblematic of her typical line of attack, and and the second as the media blaming them for over exaggerating. Uh,
what the Trump campaign insists is not actual plagiarism. The problem with the first charge is that the Clinton campaign didn't really have anything to do with the the organic kind of growth and focus on what seemed to be very similar passages between Donald Trump's speech and Michelle Obama's speech, and there achieved me Donald Trump's wife speech and Michelle
Obama speech back in two thousand eight. But you know, this has quickly become I think the dominant theme and topic and question among all the delegates, all the all the party leaders here in Cleveland, and something that we're just hearing a lot about and and has really overshadowed everything else. Is there any way to understand what the future is for the campaign manager Paul Manafort in this instance, Well,
we saw Manafort out this morning doing interviews. That's an indication that the Trump campaign is now is sticking with him. Although um there are certainly some suggestions that this is ablematic of problems with within the campaign and competency questions. There have been a lot of a lot of internal discord among the Trump campaign and so, uh, you never really know with with Donald Trump and what hell decided to do depending on how long this sort of controversy
players on. Tell us more about the anti Trump forces that disrupted proceedings yesterday over convention rules, and I believe that Colorado delegation actually walked off the floor. Yeah, we saw some real anger among delegates who are here. But in opposition to Donald Trump's domination. There was a fight over a rule of package that it would essentially smooth over sailing for for the rest of the conventions for Donald Trump and his nomination passed by a voice vote.
When delegates demanded a roll call vote that would have at the very least kind of stretched out those proceedings, it was overruled by the chair and it led to big four fight, people yelling at each other, cutting off the mics for about ten minutes, and and really sort of underscored a lot of the disunity within the Republican Party. There's a possibility that we see another version of that tonight as as Donald Trumps exp to be nominated formally. But it's also more of a theatric thing than a
procedural thing. He has the delegates to secure the nomination and the roles package that was pasted yesterday, and sure is that that will happen. John Kaik, the Ohio governor, he's been described as making a big mistake and embarrassing his state by skipping the convention, but that's coming from
the Donald Trump campaign. Yeah, this is a really unique situation where you see the the candidate attacking the sitting governor of an important swing states, somebody who they're really gonna need to help if Donald Trump has a chance of winning Ohio, which is a crucial state for him. It's this kind of rust belt state, big swing state
with a lot of electoral votes. And so that this type of disunity that these types of arguments are going on as the convention on a really kind of embarrassing national stage, is a sign that, um, there's a lot that needs to be papered over and a lot of bridges that probably need to be built four November for Donald Trump to to be able to rely on that state infrastructure that John Kasak has built up. Well, building that infrastructure might actually cost some money and wants your
thoughts on Las Vegas casino mogul Sheldon Adelson. Is he going to give a major donation to Donald Trump's campaign? Has he actually come out and supported Donald Trump. It's interesting he was asked questions about why he hasn't donated today and remained completely silent as he was sort of peppered by questions peppered with questions by reporters. Um, you know, fundraising has been a struggle for Donald Trump throughout this campaign.
He hasn't designated a superpack. His fundraising his flag significantly behind Hillary Clinton, as has his cash on hands. And he's responded to that criticism by saying that he could self fund his campaign. But lots of Donald Trump's assets are hied up in real estate or other non liquid assets. There's a great Bloomberg story today about his valuation and
where all his money comes from. And so there are some serious questions I think going forward about whether he'll have the cash that he needs to go up against Seller Clinton. And just finally, what's the most important thing we should look for tonight as the Republican Convention continues?
Justin I think we're going to hear from both um how Speaker Paul Ryan and sent a majority Leader Mitch McConnell these are the two most establishment Republicans in some senses, and so to hear the offense which they are actually stolean Donald Trump's virtues rather than just kind of generally talking about conservative values. I think it's going to be a big parton And the second is how this roll call vote or stay? If I stay, vote for his domination.
Justin Sink Government reporter Bloomberg News joining us from Cleveland, Ohio. This is Bloomberg coming up. We'll get an overview of equity markets and take a look at bonds, but also we'll look at some major earnings, Microsoft, Johnson and Johnson, and Goldman Sachs. Find out what should you do with your money?