know. david: this is jobs day in the united states. for more on the jobs number that's coming out, we're going to the chief u.s. economist for bloomberg television. carl, to put it into a broader perspective, 12-month average, 204,000 jobs added a month. six months, 169,000. what are you expecting this month? carl: given what we have seen in the g.d.p. numbers that she the economy is at least to some degree reaccelerating in half of the year, that should augur for at least a mild pickup in the pace of hiring. i think we can do a little better than the six-month average of roughly 170 and go to something closer to 190,000. david: so somewhere in between? carl: exactly. i hate to say boring report, but that's what we're gearing towards f. there's a big outside myth to the down side, you know, the real question is going to have to be if this is not similar to what alix was highlighting, election uncertainty and potentially some hesitancy to expand your most expensive asset for most employers, which is their workforce. david: besides the top line number, people always want to know abo

name on the o accompany mitt romney and rudy giuliani. that is general david petraeus. he is 64 years old and a retired four-star general. he is known as one of the leading generals of his generation and has been credited with the u.s. troops surge in iraq that helped push back the insurgency. he also served as cia director under president obama, but resigned for sharing classified documents in an extramarital affair. he managed to avoid a criminal trial with a plea deal in 2015. today though, he is back and it is reported that trump is inclined to pick david petraeus, but mr. trump will meet with mitt romney on tuesday. trump has come under much criticism after even thinking of picking general petraeus after he blasted him during the campaign season. haidi: coming up next, we will be talking about china's football ambitions. rishaad: who should be the next england manager? this is bloomberg. ♪ rishaad: a quick check of the business flash headlines. the indian government is presenting a deal for higher income taxes. this is part on the crackdown for tax evasion. 10% ofs a penalty of

david: from bloomberg's world headquarters, here is what we are watching. mr.'s fly to moscow, and officials in vienna start more talks to try to salvage a deal on production cuts. and the president-elect alleges millions voted illegally. it is cyber monday, the biggest online shopping bonanza. we speak with the ceo of wayfair to see if trading will increase. for now, abigail doolittle joins us now. abigail: first down day in u.s. stocks in five days. this after the three major averages closed at record highs to the dow and the s&p 500 had been on a four-day streak of putting in record highs, the first since 2014. perhaps investors taking a breather after the record highs. oil andgy complex -- gas trading higher. oil up more than 2.5%. natural gas on its six-day hold for a row on a december. investors hoping opec will hammer out a supply cut deal. if we go into the bloomberg and look at g #btv 5128, this is a chart on interest and oil going back to 2000. we see the number of contracts that have changed hands each day are near the highs going into the hopes for this first supply cut

lagarde. ♪ >> 1:00 p.m. in new york, i am david gura. vonnie: i am vonnie quinn. welcome to "bloomberg markets." ♪ david: from bloomberg world headquarters in new york, coming to you from washington, paris, and frankfurt. jeff sessions is the attorney general and he is also named a national security advisor and cia director. we look forward to his meeting with mitt romney this weekend. president-elect from's policies may improve u.s. productivity. we had to washington for how republicans are pushing medicare reforms. how the changes affect seniors and the insurance industry. abigail doolittle joins us. abigail: we are halfway through the trading session looking at small declines from major u.sages in the

good morning and welcome to "bloomberg daybreak." i am jonathan ferro with david westin and alix steel. futures are up 6.33 on the dow, up 28 points on the s&p 500. look at treasuries. yields higher. the fx market, a weaker yen, the dollar-yen up 1.2%. mey's clarence -- the fbi director says hillary clinton's handling of email was not a crime. stocks around the world rally. the mexican peso reports its best day in a month. just one day to go before the u.s. election, hillary clinton leads donald trump by three points among likely voters. theresa may is on a three-day visit to india, where she clashed with leaders over immigration and failed to arrange a media eting. vote is scheduled on brexit. that is what you need to know. david: number one story is the election. where one day away, the consensus of national polls continues to show hillary clinton in the lead. with a new bloomberg politics poll out this morning showing clinton leading donald trump by three points. joining us now is marty schencker, senior executive editor of "international governments and economics." we see the

david westin and alix steel. the biggest pop on the s&p 500 since march of this year, futures going nowhere, down about four points on the s&p 500. -22 on the dow. yieldsn off yesterday, down about a basis point to 182 on treasuries and the dollar yen down, a weaker japanese yen. head to the polls to decide who will be the next president. results are expected at 7:00 p.m. eastern time. aocks are slightly lower with billion -- opinion polls showing hillary clinton slightly ahead. kenneth make their final pitch to voters. candidates take their final pitch to voters. --lary clinton: it's job it's not just my name on the ballot. it's the kind of future we want for our children and grandchildren. our core values are being tested in this election. but everywhere i go, people are being -- refusing to being defined by fear and division. we've come through hard economic times and we have seen pretty big economic changes. i believe in our people. i love this country. donald trump: the only force strong enough to save our country is us. the only people brave enough to vote out this corrupt est

lower today. ♪ >> it is new in new york. i am vonnie quinn. david: and i'm david gura. welcome to "bloomberg markets." ♪ bloomberg world headquarters in new york, we are covering stories from new york to london at this hour. a republican in the white house, and both houses of congress will be in republican control. that does not mean that the senate will rubberstamp everyone that donald trump picks for his cabinet. also, snapchat has filed privately for an ipo. the listing that could come as early as march. we will speak to the managing director at one of the most exclusive luxury areas about travel this holiday season. julie? up in we have been going its and starts ever since the election. it is one of those types of days again

considering retired army general david petraeus to be secretary of state. according to a senior transition official, trump will meet with petraeus today. he was the director of the cia but resigned after revealing he shared classified documents will having an extramarital affair. an accused of killing nine black permission is at a south carolina church will act as his own attorney. dylann roof's decision came against his lawyers advice. the judge said he would reluctantly accept the decision. world gdpzation said will expand, that is the fastest pace in five years. chiefke to the oecd's economist. increased our global growth path for 16 and 17 based on fiscal stimulus not only in the united states, or expected therefore 2017 and 2018, but also ongoing fiscal stimulus in china. it is not just donald trump, but more broadly speaking the larger economies. >> for the lsast five years, she says the global economy has been in a low growth trap. global news 24 hours a day powered by more than 2600 journalists in more than 120 countries. this is bloomberg. nejra: thank you so much was a

the cfo, david cole, later this morning for his first interview of the day. time.s at 8:45 u.k. we will be digging into the trends. how long will those yields going higher last? , it is the market open. futures are lower. this is bloomberg. ♪ guy: i am here in the city of london. caroline hyde is over in berlin. moments away from the start of european trading. caroline: summing up. the fed hints december will see a hike. its it all about the election? brexit gets its day in court. the court rules whether the prime minister can trigger article 50. ceo delivers good news as his cost cutting push continues. will investors be convinced? guy: plenty to think about this morning. we are called low, but not by much. let's take a look at the bloomberg and show you what the open looks like this morning. you can see that fell off into the close yesterday. another leg lower during the auction. we're expecting these lines to move down. the ftse 100 not down by much. the market taking a more positive view of the world. there goes the cac. markets now softening up a bit. let's get the details.

you go tomorrow to see the recording. that is what i am doing tomorrow night. david: that is exciting. thank you so much andrew. gri -- chiefcheap investment officer at pimco. first word news. emma: a demonstration against donald trump's election turns violent overnight in portland, oregon. portland police called it a ralliot. in new york and chicago, thousands surrounded his buildings. donald trump tweeted that the protesters have passion for our great country. a deadly attack on the german -- in afghanistan. they killed at least six people and wounded 120 others before being driven off a special forces. there were no german casualties. david bowie's our collection has hit the top of the chart. option brought in $70 million at sotheby's in london. items.udes 350 global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am emma chandra. this is bloomberg. alix: u.s. equity futures slightly off this morning. let's dig deeper. it did meet a miss on its earnings and revenue estimates. he has been subscriber losses have abated to somewhat

today because gwen has left us? david brooks, i thought, wrote so beautifully, because he was there at pbs with her on fridays. let's talk about friendship first, though. >> that would be a great place to start, charlie. it's really good to be with you. it'd be a great place to start because, for the last three decades, she's been my closest friend. almost more than a friend, really, a sister to me. and i miss her so much already. it's really hard to start to talk about her in the past tense. charlie: just tell me about the evolution of the friendship. >> well, we met at a journalism convention. i had access to a car because of who i was dating. [laughter] >> and somehow, ever the good reporter, somehow, she knew that. and we had been at a convention where all of the activities were behind closed doors. we'd not been outside. and she approached me and said, i hear you have access to a car. we want to break free and get out of this place. can you get access to the car? and it was in texas. we went to the galleria, this big shopping center, and spent an afternoon together. and then, n

for december 2017. donald trump has met with retired general david petraeus as senior officials in the transition team say that the ciaer director of the ca -- is being considered for secretary of state. mitt romney is said to meet donald trump later today amidst an extraordinary public lobbying campaign against him. hassouth african president dealt with the most serious challenge to his leadership yet. contingent of the ruling party national executive meeting failed to topple him. his presidency has been marred by scandals and policy missteps putting the nation's credit rating at risk. the u.k. will work to make sure that global markets make -- keep access. bloomberg, he also said the government will be focused on free trade in upcoming brexit negotiations. has beenvernment clear. theresa may has been clear that she wants the u.k. to remain the most passionate, convincing, and compelling country arguing for free trade around the world. that is where i see the future for the u.k. being passionate about free trade and having a fantastic future for the country. or says heon spain has

"bloomberg daybreak." i jonathan ferro with david westin. alix steel is on assignment. points on stable, 13 the dow, positive three on the s&p 500. switching up the board, outperformance and commodity 3.5%. 44.84, up by the dollar weaker against every currency except the pound. carol: the -- david: the market taking a breather after the russia. here's what you need to know, terms treasury am a former goldman sachs partner, is said to be the pick of donald trump's advisers to service advisory. they are waiting on a decision from the president-elect. markets taking a breather in their reaction to u.s. elections in the dollar rally ends. meanwhile, emerging-market stocks and currencies gaining for the first time in one week. of 8:30ail sales out a.m. eastern time as they prepare for another big day of fed speak, including vice chairman stanley fischer at brookings at 1:30 p.m. eastern time. we will bring you that live on bloomberg television. president-elect trump quickly trying to fill the cabinet, having appointed chief of staff and cheap strategist. chiefion i want -- strategist.

side. david: i imagine you are not thinking it will be 4% gdp. how treacherous is it to bet on that? you are betting on the fact that he will not follow through with the trade policies he talked about? philip: exactly right. we distinguish between the protectionist tariff rhetoric compared to deregulation. we focus more on the domestic side then the campaign rhetoric around the tariffs. wouldt were to change, we change our view on the emerging-market equities. the right now, still overweight. himie: you are banking on being your president to you. but he will have to address policies at some point and you will let you change your views, potentially. believe onwe november 1 trend growth and better than that now, then that is a view on the u.s. equity market. and a view on the sectors that control -- that's the rate market controls. vonnie: what is the biggest thing clients come to you with these days? cash.: cash. cash is the worst thing you could have in your portfolio. every day it is above zero, you are losing money on trade. for us, even before the election results, all the caps o

i am vonnie quinn. : and i am david gura. welcome. ♪ we are covering stories from new york to paris and tokyo this hour. optimism.on opec agrees to cut output. president obama meets in new trump meresident-elect to new york as he continues to assemble his administration. julie hyman joys us with the latest. we have touched it. julie: it looks like we are trading at a new intraday record. 2194, even. the dow earlier touched a closing record. but it is not on an intraday basis. the nasdaq is trading at an intraday record. this post election day rally is continuing. it has definitely been helped by energy. i should mention volume is down in this holiday week. we have thursday off for thanksgiving and friday is a shortened trading day. 15% belownning about the 30 day average. something to keep in mind as we watch the s&p take to a new record. energy is a big part of the story. david mentioned new optimism, that there will be an opec agreement. that comes as iran and iraq are signaling more willingness to work with opec. crude --ing imax raising.mex crude we have seen energy stocks rise

. particularly of america. in the next hour we bring you david folkerts-landau of deutsche bank. david folkerts-landau on a market adjustment. this is bloomberg. ♪ francine: this is "bloomberg surveillance." i am in london with tom keene. to talk about eu-u.s. relationships. byy have found to stand international agreements he has questioned. today, financial policy investors are making. joining us now is pierre gramegna. thank you for joining us. i have a million questions. what does a trump presidency mean for europe, economically? well, first of all, i thingse have to look at seriously and quietly. president trump has made a lot promises in the campaign, but since the day he was elected, the words he chooses and the ideas that he defends are pronounced in a more calm way and obviously, he is giving himself a presidential look and outreach. and he has said he wants to cooperate with all the countries and i am pleased to hear that. all european countries are eager to work with the new president. worried aboutyou a new european existential crisis? will that come in the way of more ext

david: from bloomberg's headquarters in new york. this is local coverage of the 2016 election on bloomberg television. i am david gura. guy johnson joins us now. is what hasands out been happening with the foreign exchange markets. brexit, esau the instant reaction -- you saw the instant reaction. you are seeing it as far as the turkish lira. the market is looking for safety. you are seeing overnight falls in dollar-yen, spiking to levels we have not seen since brexit. it is fascinating to see the market really getting caught here, it will be people on the wrong side of the trade. looking at the options expiring you will see in the aussie today. you could see real fireworks as far as -- afield as australia. anchor: reacting to the uncertainty surrounding these three states. let us start with wisconsin. about the accent is here. donald trump with 49%. hillary clinton with 46%. we do not know fully what precincts have yet to report. megan: that is a big gap even if we have a little bit left to count. this may in fact go donald trump's way. we have been talking all night. with hismi

enlisted top celebrities like scarlett johansson, david beckham, and kobe bryant to drum up support. toshiba posted earnings that beat estimates for net income sales by 20%. earlier this month, toshiba raised its full-year forecast, citing strong demand for memory chips in hard drive devices. disney's ceo tells bloomberg television that 2017 will be a lower growth year after fourth-quarter profit miss. earnings were hurt by a drop in advertising and its cable business, especially at espn. told us he sees solutions to disruption in television and the sports channel will return to growth next year. shares gained in extended trading. in 2018, we believe it espn will return to some nice growth again and continue to grow beyond that. our outlook for espn is positive . >> global news, 24 hours a day powered by more than 2600 journalists and analysts in more 120 countries. let's check in on how the markets have been trading this friday in the asia-pacific today. >> mostly weaker, but have a look at the shanghai composite, .6%, poised to enter bull market territory, up around 20% from the l

david rubenstein show, "peer-to-peer conversations." this week's guest is warren buffett. >> we were having 2% or less growth, do you think it's possible to grow 3%, 4% more 5% growth? moran: if you have less than 1% population growth, that means in one generation, we will add maybe 18,000 or $19,000 gdp per capita. so we are just beginning. emily: david rubenstein travels the country talking to leaders to uncover their path to success. catch the third part of this six part series wednesday at 8 p.m. eastern. competition to reign over the internet of things is heating up. one company looking to make it smart is formally c3 energy, which closed a funding round. their aim is to connect a fracturing equipment, medical devices and all the other commercial quitman used by the world's largest companies. funding peaked, hitting a whopping 3.2 billion dollars, but the numbers are expected to decrease this year. joining me to discuss the iot landscape is the person who founded steeple systems back in the day and worked at oracle before that. thank you for joining us. how do you respond to thi

david gura and this is bloomberg markets. from bloomberg world headquarters, this is "bloomberg markets," covering stories added macau.nd hillary clinton is in that position with consumer goods companies. we'll have the latest on the federal reserve is to begin a two-day meeting in washington. hillary clinton and donald trump are prime for what could happen after election day. the organizing and appoint volunteers and lawyers across the country. at least some of what happens in las vegas this not stay in las vegas. macau is stealing a page from the playbook. julie hyman has a look at the latest worried julie: not looking -- latest. julie: now looking so good. stocks are falling to the lows. we have seen the losses building as the date progresses. the s&p and nasdaq down more than .6 of 1%. we have watched commodities closely because that has been part of the story today. gasoline is going higher after an explosion and fire at the largest pipeline. the pipeline explosion happened in alabama, causing the death of one and injuries of others and it has caused a spike in gasoline and

vonnie quinn. david: i'm david gura. welcome to bloomberg markets. ♪ david: from bloomberg's world headquarters in new york, we are covering washington and new york. opec quenches the deal to cut , rising over 8%. the next u.s. treasury secretary, we will did -- dig into the latest. ♪ hyman joins us now with the latest. markets are moving a little bit on the oil news. julie: definitely. especially looking at oil stocks. energy shares are helping. we'll talk more.

new growth next year. david westin spoke to ceo bob eiger and asked how the new shanghai theme park is performing. ambitious project we ever embarked on was building disneyland and shanghai. i'm proud to say that after four months of operation, 4 million people visited the park and they are loving what they have experienced and the prospects for that park in the most populous country in the world are really bright. as we moved to 17, we feel great about will be accomplished and 16. there is momentum and most of our businesses. we have a couple of headwinds as it relates to comparability factors like the cost of the new forbnba contractor espn and the fact that we do not have a new "star wars" saga film. we talked about the fact that 17 is an anomaly and a lower growth year than we have experienced since 2013, for instance. david: the media networks have gotten a lot of attention, frankly in part because it is so successful and so large, but there are questions about the subscriber level for espn and the reduction in subscribers. can you bring us up to speed? at what rate are you losing

would they be repositioned? david: i would not expect they really change from day one there holdings of u.s. dollars per se. what we see already, no matter if donald trump wins the treasury or not -- is that the chinese are trying to shift these fx reserves to treasuries, trying to shift in more of a , foreign direct investment holdings. every other country has that. we have that reserve in china. the treasury holdings are melting down. but this is a gradual process. i would be very surprised if the chinese would come into panic, selling that to a bad price. jon: i want to scratch my head just a little bit. you could expect the carry trade to unwind if we get a risk event in the 48 hours. that would imply a stronger euro, a stronger yen. beyond that, typically in a risk off event, you expect the dollar to be really well bid. why is this so different? david: there is a difference actually how the market behaves in this very short-term sale, in the one week after the election. we are more guessing than really forecasting. we basically use the pattern we have seen so far, all t

very much. stay with us. david, lots to get through with david this morning. let's talk about what's going on in the german corporate world. the german delivery firm out with numbers this morning. here to discuss the results is s the c.e.o. frank app everyone l joining us from germany. thank you very much as always for getting up to talk to us this morning. profits climbing on the recovery for what was a project you wanted to forget. help us untang it will derlying strength in the business. >> we see the results of structural reforms we have taken last year and said this year would be much better. we are on a healthy track. all divisions have improved. we are very happy with the development despite that the world economy is modest at the moment. yes, we see the impact of the actions we have taken. >> the market has been a source of concern for your business. how is that going to develop going forward and how are you mitigating a possible long-term impact here? >> we have expected that the market will only grow lower than -- slower than the g.d.p. until 2020 that will be the trend. we

ar -- they are. facebook is a. david kirkpatrick wrote the book on facebook and suggested earlier this week that jack dorsey is taking a more political stance. where we are seeing mark zuckerberg be much more apolitical. zuckerberg, it's important to him personally to appear unbiased. we saw how facebook reacted to the dispute earlier this year around trending topics, when gizmoto reported that there may be liberal biases in the stories they selected to be trending. facebook almost over reacted to that. they fired the human editors, they invited conservatives to headquarters to speak with zuckerberg and learn more about how newsfeed works. this is a very tricky place for zuckerberg to bn. he does not want to be the arbiter of truth. he doesn't even want to block ws,sed opinionmongering ne opinion masquerading as news. those will be the most difficult articles for facebook to try to restrict. fake news could be easy. do you think facebook needs to take greater responsibility to add more human editors, human curators of news, like yahoo! news did back in the day? sarah: facebook has

david: from our world headquarters in new york, straight from london to washington and hong kong in this hour, one day left until election day in america. hillary clinton leading donald trump by 3% in the national poll. don't worry if the stock market goes crazy. it says nothing about annual returns. what should investors think about in financials come wednesday morning? here we are, 12 hours away from election day. vonnie: but who's counting? [laughter] >> we are in positive territory today. from nine straight sessions of decline, this is the best day for the major averages, going back to march 1. definitely seeing a relief rally today after the announcement i fbi director james comey. that there would not be any charges associated with the e-mail server investigation. as david pointed out, hillary clinton has kept her lead in the polls. the imf, for example, which looks at the various industry groups outside the s&p 500, you won't find any read on the wheel today at the moment. we are seeing a broad-based rally. increased bond yields today. health care shares performing quite well

: americas." david, what are you excited about today echo david: opec. willem buiter will be here to talk about opec and oil. , hereo have bob kimmitt to talk about president elect donald trump, what he is doing with his cabinet, looking at that process. here,tail sales very big black friday and now cyber monday. we have the ceo of ups, what they are shipping so far and what they expect for the rest of the season. francine: i am looking forward to the program. david westin there. more foreign policy and what donald trump can do for foreign policy. we're back with gideon rose, .oreign affairs editor if the u.s. retrench us from foreign policy or the pivot to asia, can china fill in the gap? we heard the chinese premier talk about free trade, climate change. is he positioning himself to be the one that takes advantage of a u.s. retreat? gideon: this will be fascinating to watch one of the things about uncertainty, you cannot be sure that anything will work out. you cannot rush to assume that everything will go to hell in a handbasket. the british and that this is the end of the platfor

♪ david: from bloomberg's world headquarters in new york, we are covering washington and new york. opec quenches the deal to cut , rising over 8%. the next u.s. treasury secretary, we will did -- dig into the latest. ♪ hyman joins us now with the latest. markets are moving a little bit on the oil news. julie: definitely. especially looking at oil stocks. energy shares are helping. we'll talk more. it is actually touching a record high. he came down from that level. let's get total -- to oil. 4907, the barrel. if you are looking at wti, that is a .5% higher. production,t opec you look at the current is now beingre, that was theon deal that was struck. what is interesting is the dollar has also been gaining strength. you see some directions there. up another .5% today. you see the bonds, that means the yield is up 10 basis points at the moment. the fact that those yields are higher is putting pressure on some interest rates and utilities, for example, is one of the groups i alluded to that is holding back gains in the s&p 500. 2.5%. pressure and biotech shares are down 1.5%. we sp

that way at the end of the day. despite all the bluster. david: jeff mccracken there, executive editor for global m&a. thanks very much. vonnie: coming up, staffing donald trump's administration is the first test. the message he is sending with the hiring of a washington insider as chief of staff. ♪ vonnie: this is bloomberg markets. i am vonnie quinn. david: it is time for the bloomberg business flash. a lawyer from a dozen british retailers accused these up of forcing them to pay hundreds of millions of dollars in what he calls market skewing fees. this comes on the day of a trial in london. top shop says it's these have been set lawfully. luke tons of workers are threatening to strike. says the pilots have been without raises for five years. they say the threat of a strike is incomprehensible. turns out, millennials love cars after all. and 2004n between 1980 would rather own a car than rely on right hailing service is like uber. lift are replacing cabs, not cars. their favorite are the jeep wrangler, the subaru cross track, and that is your bloomberg business flash. trump

building. trying to get them to talk. not the most glamorous part of the reporters job. david: you are in a gilded enclave. the role that jared kushner, donald trump's son-in-law is going to play. is seeking tot he get clearance for him and his children. jennifer: there's been denials about those reports. it is difficult to know. governmentbeen some ethics lawyers that have said bringing in a son-in-law would violate nepotism laws just like bringing in done junior. -- don jr. it is a legal and personnel issue on how the president-elect wants to use him whether in a legal capacity or an advisor. after this point in time, it is not clear. bonnie: we did get more information from a couple of spokespeople, his economic lending team will be announced on monday. do we assume that in be had of these landing teams, whatever secretary it might be -- do assume that the head of these landing teams, whatever secretary it might be? the staffit is at level. there has been indications from kellyanne conway, who was the , said theanager cabinet announcements might be coming before thanksgiving. ri

read the tea leaves. david: and six days. let's get to bloomberg's first word news. mark crumpton is in the newsroom. mark: a man suspected in the killings of two officers overnight in des moines, iowa, surrendered to a state employee. ed-year-old scott green flagg down a man was the point of presented identification. police officers were sitting in their squad cars when they were shot amber style. the killings took place two miles and 20 minutes apart. police have not yet determined a motive. hillary clinton's presidential campaign has canceled a rally scheduled for today in des moines. donald trump via twitter says he is praying for the families of the officers. chinese state media say all 33 call miners underground in a gas explosion earlier this week have been found that. -- dead. two survived, but no others survived. china's mining industry has long been among the world's deadliest. a panel of seniorjudges will rule tomorrow on a challenge to u.k. prime minister theresa may's plan to begin britain's exit from the european union. that is according to a lawyer in the case. the prime

kong entering the fray. here is david. david: those markets are pulling back. hereffshore spot rate following the fixing, no big surprise, week is fixing since 2009, dollar strength, not just the renminbi, the peso, the ringgit, the rupiah. tighteningsee conditions in the u.s.? we are still far from that at the moment. that being said, there you go, offshore renminbi. the opening levels here for the ,re-markets, three indices h-shares, hang seng, shanghai deposits. below 3200 four that market. hong kong, we are watching for positive reaction following the gdp numbers which beat expectations on friday. at the moment, risk off the table. those things are being set aside for the moment. change coming, a for the composition of the index. in,taken out, one put oilfield services being removed from the h-shares index in and china railways construction, the other one. there we go. that will be added to the index. we are down on a down day across markets. here we go. everything else is red with the andption of new zealand japan given the weakness in the japanese currency. new zealand is feel

bloomberg surveillance. herro. is david tom keene asked whether he only need 3% to get the fed on rate. >> productivity growth is not i'm it was, just .6 per and in the population is only growing at the same pace. growth potential is only around 3% nominalm and a gdp figure will get you close to the fed's 2%. mark: are we becoming like : are wend japan -- tom becoming like europe and japan? a low, but maybe intensity version of what is going on in parts of asia and europe. hear michael darden say that, does your expected rate of return come down? >> what we do is look at all kinds of factors and we are bottom-up value investors so we look at what we believe can grow. we have to incorporate that macro economic forecast, but there are so many factors that go into earnings growth that that is just one of them. the big overlay, the gdp growth figure is just one of them. some companies could do far better, some need just a little bit of a tailwind, and some cannot do well or fly in a low growth environment. analystshat our job as has to be, to determine what impact the macro environmen

in new york. david: welcome to "bloomberg markets." from the bloomberg world headquarters in new york, from washington to johannesburg, here is what we are looking at. stocks pulled back. investors worry the postelection rally have may have gone too far, too fast. and larry summers shares his advice for donald trump. rallyinge shift from to governing. and helping the federal reserve by increasing debt and spending. there halfway through trading session. let's go to julie hyman. the dow did rally. it did touch an intraday record. at the s&p and nasdaq are languishing here. the nasdaq getting pulled down by technology which we will

. >> and david foley's art collection has hit the top of the chart. the auction resumes today. the three-part sale includes 350 -- 350 items. news 24 hours per day powered by 26 hundred journalists and analysts in more than 120 countries. >> let's talk about sterling. throwing markets into turmoil. for all of the trumpet inspired currency swings, richard jones joins me now to wrap up the week. this is sterling against all of this. the real beneficiary of a trump's victory would be the pound, would you believe meac oh >> it would not be obvious. with a lot of different traits we can talk about is that the consensus trades, or the trade everyone had on before the result, a lot of them had gone the other way. at works atoking that and if anything position should be unwound. and the pound has been a big bit -- eight beneficiary. -- been a big inefficient very. beneficiary. >> this is the pound index. what upside is there for sterling, given the focus seems the elections and referendums. guest: the election of donald trump does sharpen the focus a lot of political risks involved. a big shock

, david davis, u.k. secretary for exiting the, is answering questions. he gave a statement on the ruling that government needs parliament approval before starting brexit. you can watch the entire speech on the bloomberg on live go. getting on with delivering their brexit mandates, article 50. it is the beginning of the brexit process. no second referendum. the government believes it has prerogative on article 50. the supreme court will rule in early december. he says the government disagrees with the court judgment and will appeal. we know that that debate continues. time for the bloomberg business flash. a look at some of the biggest business stories in the news now. more problems for vw. poetsch has been added to a german investigation of the emissions scandal. relates to his time as chief financial officer. meanwhile, volkswagen could have more trouble in the u.s. a newspaper reporting that american testers have found technology to cheat emissions test in audi cars. any report confirms the central bank in germany said that the economy went to a soft patch in the third quarter.

p.m. eastern, join us for our election special posted by david gura. mark: we are looking at some of the big market movers in the early sesssion. this is bloomberg. ♪ vonnie: this is "bloomberg markets." i am vonnie quinn in new york. mark: from london, i am mark barton. vonnie: a look at some of the biggest business stories in the news. to highshares of uber net worth clients. deutsche bank turned down the opportunity. tor turndown the opportunity release financial details about their business. shares thisother year. earthlink is a deal valued at $1.1 billion, including debt. they have over 1000 miles of fiber-optic cable across the u.s. more problems for volkswagen. germanbeen added to a investigation over and emissions scandal. vwmay face more trouble in the u.s. a german newspaper reporting that american testers have found software to cheat air-quality tests in audi cars. that is your business flash. julie hyman is looking at early movers. -- oracle is rising along with technology broadly. it is gaining more access to cloud-based software services. the acquisition had been i

moment. yvonne: how is that fbi letter playing out on the currency markets? david: similar to what we saw for gold. shift out of havens. above 104. it is still pretty tight when you look at other majors like the aussie. he felt the pound coming off of a steep gain. i have to keep going back to that gold and mexican peso and the japanese yen. a pretty good start to this week. yvonne: attempts to rein in property prices seems to be gaining traction. our correspondent has been looking into this for us. it looks like this is paying off for china, we're seeing a bit of a cooling? this is coming from official data for the month of october, which shows, for example, in cities like beijing that sales volumes fell 14.1% year on year. theyu look at shanghai, were down 18% year on year. transactions in major cities fell 60%. prices in the first tier cities have risen on an average of 30% year to date. cities trying to increase the down payments that you have to put down on properties and restricting the sales of properties and some of the cities. getas governments try to these cooling prices, we

. david wessel will join us from the brookings institution. you know him from the wall street journal. does he and it ben bernanke? stay with us. this is bloomberg. ♪ francine: this is bloomberg surveillance. let's get our corporate fix. to buy akr has agreed japanese automaker. the price is $4.5 billion. it's a 28% premium over there last closing price. the sun owns 42% of the company. they want to spin off less important businesses so they can focus on electric vehicles. a change of the top of fidelity investments. takeil johnson will control of the family-run firm next month. she will succeed her father ned johnson. fidelity has been losing market share. that is your bloomberg business flash. i am taylor riggs. tom: congratulations to fidelity. it is privately owned. the lead note there is abby johnson earned this. she is a legit analyst. she did it the hard way. she came up and actually did real research and real work. also doing real work is tracy alloway. at e.m. am looking erosion. if i just look at the turkish lira, this is one example. this is really for real. is donald tru

in the u.k., in fact we are growing. yousef: we understood you met with david davis. could you give us a sense of what was discussed, and whether any promises were made along the lines of the promises that were made to nissan? >> well, it was a private meeting which i attended, as did many of my peers in the aviation industry. it was cross sector, not just airlines. and we were able to represent the issues but also the opportunities for aviation going forward in our relationship with europe. it was a very positive meeting, and i think david davis was very much in listening and i think david davis was very much in listening mode. anna: what sense did you get reachwhat is within his to deliver? to say it was a private meeting, but we did get a press release saying that market access remains a top priority. they want to explore new opportunities for further liberalization, but what can the u.k. government reach to deliver? alone deliver in these brexit talks you think? >> i think whether you are an air-traffic controller in the u.k., whether you are an airport or airline, every single

. ♪ david: from bloomberg's world headquarters in new york, london, tokyo, by nobel prize-winning economist and professor paul krugman. we will get his take on the most prevalent issues facing the economy, including the bank of , the future of european union, health care, and trade. standcheck where things with julie hyman. julie: if you look at stocks, we have taken a turn for the worse. this would mean the eighth straight session of selling particularly for the s&p 500, sincengest losing streak 2008. the dow was little changed, down just under a point. we were earlier seeing a little bit of gains and now we see losses. the s&p is down now for the eighth straight session. here is the streak we have seen, a down streak down about 2.7%. around the lows of the session today, it will mean substantial losing streak. a committee to uptick in volatility, something we have talked a lot about. earlier, we were seeing a relief some of the latest national polling showing hillary clinton did have an edge over donald trump. a little bit of an uptick in stocks based on that and that seems to have melted

david mccormick. three possible candidates for treasury secretary. formerentioned, the goldman sachs executive, still considered the favorite. no rhyme or reason for who he's taking or why. francine: we heard wilbur ross, someone from blackrock who is actually a democrat. >> there's been talk about whether trump would want to reach across the aisle. he has suggested he would, although much of what he campaigned on was demonizing the democrats. it isn't clear how far he will go with that. presidents have done that before, but usually not to import in policymaking roles like treasury secretary. they put them in places like the transportation department. francine: you were in peru with christine lagarde. that is also where president obama was. what does he have to say? >> he basically urged all the world leaders to give trump the benefit of the doubt. it is apparently obama's belief that the realities of the office will reshape some of his more extreme positions. you can't do as much as you would like to do by fiat and he will be constrained once he gets into office. the president said,

good soldier. the dinner last night, david petraeus was sitting there, they were not alone. donald trump likes to get attention. there is one. that this thing is being done to embarrass mitt romney. it is hard to say. ,rancine: going back to mnuchin he was the youngest partner ever to have a partner at goldman sachs. doesn't mean that donald trump with disappointment loses a little bit of credibility with his base? it is not wall street bashing him it is deregulating, favoring wall street? massiveill see deregulation in the energy sector and the financial services sector. companies in these industries will be quite happy to have him. rhetoric on the campaign -- he went after lloyd blankfein at goldman sachs in a full frontal assault now he is put two former goldman people as senior positions. trying to discern whether donald trump is being honest or consistent is hard. tom: please give me the video of the dinner. i want to editorialize that i think governor romney started with dessert. that is very desserty. .> it looks to me like s'mores francine: this is what i have. >> it looks

policy director of prime minister david cameron. steve, we will start with you. how did they get it so wrong? >> i think there were two big data failures. let's take them one at a time. first of all, polling. emily: by the way, you were on the show saying you've felt the re was a good chance of a brexit like outcome, meaning that you felt it was a good chance the polls were wrong. >> i do not look to be here saying the person that says, i told you so, but we can discuss that. there were two types of big failures on the data front. first of all, in the polling, the polling models basically missed two big groups of voters. one was the secret trump voters. those are people who basically were going to support trump, but in response to the moral shaming going on by many on the other side saying, if you were support trump you are a racist, they did not want to admit it. the second type of voter they missed was those that were invisible previously because they had not participated in politics because they did not believe any vote they made what make a difference. they were the new trump voter

cinema earlier this year. run, mainlandbull china shares are enjoying. we are going to ask david ingle why they are not interested in shenzhen. be high-level trial starting this weekend that of the presumed launch by the end of the year. that is what is projected. itis interesting because gets more foreign institutional investors into the new economy in china in shenzhen. shanghai is the bigger, older economy. they have these high-growth, new economy stocks and they want to institutionalize it for the professional equity market. on that sense, it is a good thing. but if you look all the way back to july of last year, foreigners have not really changed their net positions in chinese equities because of the route and uncertainty, especially in the beginning part of this year. there are global funds. global funds have a sold a net 3.5 billion yuan. no terminal, but we can bring up the shanghai composite index. this is the shanghai link. month, $500 this million sold off as net shares. that is the year to date so far. even as the shanghai composite index has been moving into bull mar

i think david duke. and you got people who went to jail. and that type of thing destroyed the bipartisanship. cokie: and to -- that example also shows you, bob livingston who was the person from the suburban district which had been a third african-american before the gerrymandering. so he voted for the martin luther king -- he voted for open house and martin luther king holiday and all kinds of things and he could say to the white people who were very conservative in his district, it was david duke's legislative district, look, i've got to do this. i've got all these constituents. and then it became all white, it pushed him much farther to the right. and he'll talk about that. and so that's what's happened. the left has become -- pushed to the left and the right has been pushed to the right. they don't speak to each other. they don't know each other. they don't live in washington. and -- charlie: come in on tuesday and fly out on thursday. >> can i say something on behalf of optimism? expectations are so low right now that i think we have to remember that these problems were c

throughout the day with a two hour special. eastern for special election coverage with david .ura and megan murphy it is bloomberg. ♪ -- this is bloomberg. ♪ scarlet: let's look at the most important states and when we might see the election called. .ike mckee joins us now the polls are open until 9:00 p.m.. cares about new york because we already awarded those electoral votes to hillary clinton. the real question is can she rack up enough victories early in the night in the east coast to make it possible in -- four donald trump to win. it may not be when we call the race but everyone will know it is over. you can pretty much bet it is over issuance florida and unless trump pulls some kind of upset in the midwest. there does not seem to be a reason for the polls to go his way. at that point, the map breaks down. if it turns blue, to hillary clinton easy when. the last president to be elected basically by the east coast was bill clinton in 1992 and they were able to call that early. fun, a lot of people were tweeting out some kind of internet tool. joe had some -- a slightly different ta