.utures up -- ftse futures up let's wrap it up with caroline hyde. caroline: could we see green on this friday? we move toward the open. hong kong as to stimulus. that helping to recover from yesterday. i selloff amid the gloomy manufacturing data we got out of the united states yesterday. not voting all of that will for the jobs data later today. 200,000get in excess of -- will we get in excess of 200,000? payroll lacking when it came to the overall view of the market. the cac jumping more than one percentage point. the big recovery happening in mortgage.ina, helps it helps with stimulus. let's have a look at some of the

other markets. euro trading lower this morning. up by .2%. signal a fed rate hike? the probability still trust 50% s 50%.ll trump mario draghi talking up the eurozone, saying growth is returning. a propseeing oil getting higher up 1.5%. asna putting fort stimulus we get more than 2000 thousand jobs being added in the u.s.. copper is on the downside. it doesn't seem to be an obvious trend. gold is a big trend. we are set for the worst week in gold since march. want to quickly show you some stocks. air france is going to be affect

the cap's this morning. they are going to have to reduce themselves. planes because14 they could not get an agreement with their own pilots. aon, waiting for them to open. saying we chancellor need to support our utilities. jonathan: thank you very much. gains across much of europe. they could be wrapping up a choppy week on a high. there wrapping things up over in a shift with juliette saly. juliette: hong kong markets came back online today after that public holiday yesterday. a look at the game we have had. over 2.5%, the hang seng rising. that is given support to the overall region. managing to see a game for the week. although it was looking choppy

earlier in the session, because we do not have markets and debts we have markets and korea and australia closed. markets in korea and australia closed. there was a lot of focus on the hang seng target today. casinos leading the charge there. galaxy is up. been data showing gains down in china. there could be stimulus efforts to try and raise tourism and macau -- in macau. the cutting of the auto sector tax. things.osit boosting play catch-up to those gains we saw on the region yesterday. australia kicked by health care stocks.

if all from telco. in japan, it was a bit of a flat session. jonathan: thank you very much. that is what is happening in markets. first up, it is jobs day. will the fed get the green light to hike interest rates? then emerging markets are a leaking ship. will e.m. capital flows turn negative of the first time in almost 30 years? cameron meet in paris. could syria casting long dark shadow? it is jobs day in the usa -- $201,000 -- what should be focusing on this

report? caroline: what the numbers come out of. 200-1000 jobs expected to be added. will we see that number living up to expectations? i have theme saw manufacturing not living up to expectations. the unemployment and that manufacturing. could that be a drag. the private payrolls underwhelming the markets. will we get more added for september back oh that is 200-1000.o be this is a very volatile number. it did underwhelm last month. undershooting the predictions. it came in at 170,000. will that be revised higher echo could we see substantial wage growth? it is only creeping higher only

2%, year on year. that is not enough to feel the labor market. to restraint and two tight. into september, looking back at the august report, i found a certain significance and importance. coming to this one, it feels like we are on autopilot for that september auto -- september rate hike. what is the significance? one day we're seeing impressive data coming from the u.s. sign we saw auto sales showing strength. manufacturing seems to be working against that. will we see consistency, an excess of 200,000 jobs? potentially a december hike? that is the clarity that is wanted. for the is crucial members of the federal reserve. we know how this jointed their

message is. they don't seem to be singing from the same sheet. again, we are slightly on autopilot. will over consensus today at fuel to the fire that we will see a rate hike come december? now standing at 20% for october. 40% for december. if we get a stellar number, will that hike problem bill -- will that hike abilities up higher? jonathan: joining us now is just got maharaj -- joining us now is thushka maharaj. ugly, ugly month for markets.

thushka: there are two key points to remember. consumer spending in q3 is tracking to over 3%. between manufacturing and the real economy and the domestic economy in the u.s.. i think the strength of the consumer and domestic economy will show through in the jobs number. in terms of expectation, i think it is high did -- is high. the shadow number is 200 k. we need to get jobs data higher than that. there is a small expectation for an uptick. it is what the fed is focused on. the sales numbers rates.ay screams hike you look at the manufacturing numbers as do the inflation

figures, what are the proxies that you're looking at is going to guide the decision come december? if you look at the forward inflation market over the next month, we see a small down drop of inflation. after that, cpi rebounds quite sharply. they're looking through these transient factors. they're looking at the strength of the consumer. they are looking at international factors. seen that in the u.s. data. the surprising thing we have seen in the last few months is the equity volatility and the global volatility has not dented the services side of the economy in the u.s.. it comforts us and terms of our globalat china condensed growth.

jonathan: you and i are knee-deep in fed watching. if i walk along main street, if i care about janet yellen's next federal reserve meeting? does it do the same thing to the real economy? is the real economy sitting there saying will they? won't they? heard fromat we have stanley is his view the fed being in front of the curve is beneficial. that narrative will be much in play. that is what i am watching today when he speaks. can he reinforce the confidence in the u.s. economy? not because we are seeing inflation but if the domestic economy can withstand this. that is the narrative where

going to hear from the fed going forward. has weighedtrength on financial conditions. as we see in the u.k., economy a ofs is not negative or inflation. jonathan: that stanley fischer speech is 6:30 u.k. time. up next, emerging markets are leaking cash. capital flows may turn negative on an annual basis for the first time since the late 1980's. details after the break. ♪

jonathan: here are bloomberg's top stories. nine people are reported to have been killed at a mass shooting at a community college and oregon. the shooter was killed in a shootout. president obama offered his condolences and limited the nation's inability to stop mass shootings. evidence that the world's biggest economy is ready to hike interest rate. predicts aney 0.crease of 201,00 the next fed meeting comes -- in an event in new york, mary a draghi says growth is returning -- mario draghi says growth is

returning to europe. it will be helped by further integration into the monetary union. christine lagarde may have stolen the spotlight with this introduction. >> he dresses like a break. he utters a few words. his bodyt use language. quintessential italian. ciao, mario. it is my great pleasure tonight to introduce a long-standing friend, mario draghi. jonathan: is there anyone who just missed that?

16 minutes into the session. equity markets on the move. let's get your equity market check. stoxx 600 up by 1%. we were heading for a third week of losses. that would've been the longest losing streak since august 2014. germany up by 110 points. turmoil in emerging markets. facing a triple threat. fed rate hike, chinese slowdown and their own the mystic issues. some of which is putting em capital outflows on track to exceed inflows the first time since 1988. this according to the institute for international finance. for more, let's get to bloomberg's mark. let's break down this report. can you give me numbers about how much cash is leaving em note it is important to that what is happening is foreign inflows is falling flat. when you look at that with the

fact that em outflows is increasing. we got -- you can look at this in two ways. thes a symptom of structural negativity. there is no emerging market at the moment. there is potential catalyst for more pain. it comes quite circular. at the most basic level, this means there is less cash available in emerging markets. it makes running more expensive. -- it makes funding more expensive. jonathan: you have been speaking about a few of them. it internal issues, the fed, the slowdown in china. even if the fed slows down, does it meet with -- mark: there's massive structural

negativity. it will be hard to change that around. there are two drivers need to look at. the external global micro drivers. on the global micro side, the rate hike, the chinese slowdown in the equity market drop as well. all three are close to fully price. we have shifted the rate pricing back to the u.s. therefore, that is less of an imminent risk. drivers are subsiding as catalyst at the moment. we are not getting the positive news from emerging markets themselves. emerging market political risks have returned. world, the mystic stories are not strong. -- domestic markets are notched -- the mystic stories are not strong. mark cudmore, thank

you for breaking down those headlines for us. discussed, you look at the headline this morning -- thush ka, you look at the headlines this morning, what does it screen to you? isshka: as you said, the fed the focus on china. a lot of weakness in china is in the price. we can think about em in terms of regional breakdown. we have seen a lot of weakness that is been put into the price. asia reflecting weakness that we are having out of china. we have been underweight for the last 45 years. it is still -- for the last four to five years. it's still too early. jonathan: india speaking about brazil. a country that kept chasing high

rates of growth. it sacrificed reforming. are we over emphasizing the role but the fed? we should be focusing on the specific countries? to group alls hard of these countries into one basket. we have to look at the fundamentals. with gone past the stage of valuation. we need to start differentiating on that. in terms of china, the orientation toward moving from an investment led growth story to one more consumption led. it won't be as smooth as we thought. that has bigger ramifications on asian a.m. which has more to come. jonathan: we have set so long in the developed world. or bad?e, is it good

it seems like a ridiculous conversation. thushka: that is the question that the markets are asking now. the big point is we have the central banks that are handicap, because they have taken so many measures. -- the why the market tax cut that we're getting from em. we are seeing that in terms of low inflation in the u.s., but strong conception data. same in europe. it will be much more rested on the dm growth story. still room to outperform. with asian volatility leading to global recession, we have seen the market the correlating between fundamentals in europe. up, is carneyng dragging his feet?

the bank of england is raising rates. details after this short break. ♪

jonathan: call it the carney always index. it is rising. the question might be when will the fed rate raise. in five months. we'll get final thoughts from

disk a maharaj. you look at the time gap for the bank of england. where talking the back end of next year. is the market about to get very wrongfooted? thushka: that is the one central bank that can surprises. -- that can surprise us. -- voting for a hike. data, we've seen labor cost rising in the u.k. it is around 1.5. we are close to the point where that 11 month gap can start closing. the fed is standing still. it is not divergent.

is being tested. do you think it will play out? thushka: the way the divergence has played out is not how we thought about it originally. we thought the fed would be leading the divergence. it is diverging in the sense that we have more central banks. that team will be in play which means the fed even if it does go, it will be in a gradual fashion. for 2016.two likes yes the divergence question is being questioned by the market. the first hike itself will cause us to -- jonathan: thank you for joining us this morning. plus six minutes into the session here in europe. european equity raising the losses on the week. up,ing up, -- coming

talking geopolitics. we have more after this short break. ♪

guy: good morning. -- jonathan: good morning, i live in london. here's a picture of the markets for you. the stoxx 600 erases losses for the week, up by 1.23%. the benchmark in frankfurt germany is also high this morning. switch of the board -- take a look at the fx market, the dollar has been dead flat over the last five trading days, but a weaker euro. cable is at $1.59. a lot of stocks to watch this

morning -- let's get some of the top stories of caroline hyde. caroline: let's have a look at the german stocks. we are looking at utilities and airlines. are getting a nice pickup -- the reason is hsbc saying it's time to buy. they are liking the stacks coming out of lufthansa. they say it reflects demand and lower fuel costs, and the management reorganization. eon looks credible, therefore raising the price tag. .ome way to go yet some of the big german utility vehicles are getting a push higher, if you are looking for light relief after a dreadful august. course, german aversion to nuclear energy is hitting the companies that have ramped up, having significant write-downs,

having to cut provisions. but today we finally get some government support. overall the german vice -- we are seeing german utilities in a fiscal situation indebted. it may be pointing out the obvious but it is starting to sound like these stocks are trading higher. on the dow side, we are talking experion. this is a credit check company down 4%, because it's u.s. area was hacked. a server with t-mobile data, 50 million customers affected by unauthorized people. 15 million customers have been hit so far persona. jonathan: thank you. the world geopolitics now.

russia has been accused of fueling extreme is about launching attacks against the syrian opposition. , sixjoint statement nations called for an end to --strikes it is set airstrikes. it is set to dominate talks in paris today. caroline connan joins us. caroline, ukraine is not going to be the focus today, is it? certainly not. the focus will be very much on syria, especially after this joint statement.we had this morning . they want to know exactly what are the motivations of vladimir putin's airstrikes in syria. in this statement this morning they expressed their concern that the attacks were targeting civilians and other opposition groups, not necessarily targeting the islamic state.

president hollande and angela merkel will have separate meetings, one by one, with vladimir putin today in paris to discuss syria. that will be very much on the top of his agenda. that was vladimir putin's intention, to move away from syria conflicts, move away from political isolation and ukraine crisis and tried to put broad coalition on the top of the agenda. you might find more support from the french president hollande, on monday that the coalition may be possible, might be desirable, necessary but under very clear basis. according to him, this coalition cannot include bashar al-assad, because he says that you cannot make the victims and the

executioners walk together. jonathan: i have an e-mail from russia seeing damages from sanctions at 25 billion to $25 billion. clearly there is an incentive for russia to sort things out closer to home. but the bottom line for a lot of people going into the meeting -- is there any progress at all at ukraine, and can we expect any? the cease-fire has been pretty much holding since september 1. on tuesday, there was an ieveement signed between k and the pro-russian rebels about withdrawing the tanks and artillery and weapons. signwas seen as a positive by the european union, that even lead the pro-russian separatists

later that the war in ukraine was over. but of course the cease-fire especiallyy fragile, in light of possible local elections in separatist regions later this month. europeans are concerned that these local elections could jeopardize the whole peace deal. of course vladimir putin will try also to use the sanctions on russia. the russian economy is still in the middle of a deep slump, 4.6% in the second quarter, the most since 2009. jonathan: caroline connan, thank you. for more, we are joined by an analyst at open europe. let's call this geopolitical chess. is this anything close to a strategic win for putin? nina: i would say in the short-term it definitely is. as the forces were increasingly

depleted he knew that in order for russia to be part of any kind of political solution our transition, he had to act. now you have the u.s. and its allies, russia taking initiative, and all of a sudden people who have been trying to get putin out of any negotiations are forced all of a sudden to talk to him. jonathan: his international reputation -- this is not going to do any good. i would ask the question whether he cares. should he care? manus: i don't think the -- nina: i don't think he cares. when he first started launching, he wrapped it up as joining the fight against isis, and at that time a lot of leaders were warily welcoming what he was doing, because europe has been suffering under the migration crisis. but it became very clear after the first airstrikes were launched that they were not targeting isis but rather groups

closer to the heartland. allies.g western jonathan: so now i have western allies carrying out strikes, russia carrying out strikes, it is messy. thatan we get to a place is coordinated and not messy at all? nina well:, that is going to be difficult. but even if the west don't enter into an alliance, they can perhaps at least pressure russia to put its pressure on assad to stop the atrocities. clear thatis very the west now has to talk to putin, and this is what he wanted. he wanted the west to engage in talks, to get the focus off ukraine. jonathan: various countries are saying get out of syria. when they meet in paris today,

hollande, what are they going to say? merkel will play a very bridging role, as she has. the u.s. will play much harder. european leaders will try to come forward with some kind of mediating situation, where perhaps russia can play a role. they will insist on the syrian government being involved in any sort of political transition. perhaps assad's and their redline and that may be acceptable to western allies. jonathan: last in short question -- the endgame. out of the two sides right now, the russians and the u.s., who has a long term strategic plan? nina: obviously the west cost strategy is in tatters, and i would argue that there is no endgame for russia. putin's intervention is largely

tactical. he saw an opportunity and he moved in. i don't think he has a clear and game. jonathan: nina, thank you for joining us. up next, amazon lashes out the competitors. we tell you how amazon is cracking down on google and apple after the short break. ♪

jonathan: here are bloomberg's

top stories. nine people are killed in a mass shooting at a community college in oregon. a 26-year-old gunman was killed in a shootout. president obama offered his condolences, and lamented the nation's inability to stop repeated mass shootings. >> the reporting is routine. podiumonse here at this is a routine. the conversation and the numbmath, we have become to this. we talked about this after, bind and blacksburg and tucson, after newtown, after aurora, after charleston. the people of portugal will vote this weekend in the u.k. general election. turnout is expected to be low but opinion polls say they are willing to stick with the right-center governor.

mario draghi says that growth is returning to europe as he accepted a global citizen award from the atlantic council in new york. he said further integration within the eu is the way forward. >> the progress achieved over the past three years has stabilized and strengthen the euro area. growth is returning. we will not rest until our monetary union is complete. jonathan: good morning and welcome back to bloomberg. let's call it tech wars. amazon getting up to funny business, tanning media streaming devices from apple and google that aren't comfortable with its own service. caroline hyde has more. why are they doing it? i understand -- i want to know whether it will work. caroline: the tactics being deployed just before the holiday spending gets going. bye-byeng is precise,

apple tv and google chrome cast. they say they aren't compatible with their own tv offering. lowly listings for these two products that own a lot of the streaming ecosystem, and the existing inventory is already being sold and that has got to go by october 29. ike higher happen to l tv, it is compatible. microsoft, aku, playstation -- you are allowed still to be sold on amazon. they really are going for the jugular. the tactic is key. it will notably hurt google the most, because apple has direct to access, shops on high street, online sales. but it shows that amazon is willing to sacrifice the sale of popular item, letting them go to competitors, moving sales to best buy, to bolster their own

product, to bolster amazon fire tv, but also to try and then to google and apple to there will, to try and get them to make themselves compatible with amazon prime. they have used these tactics before. remember of course when they got when with hachette books, they were having a real disagreement about the pricing of books online. at that point they stopped allowing certain products to be accessible. they stop allowing fre preorders of hachette books. saying that this is anticompetitive. this tactic versus google and apple is probably not going to be seen is anticompetitive but we could get the devices elsewhere. but amazon had such a grip on the market when it comes to books and could potentially be anticompetitive.

let's have a look at why streaming is such a big market. the numbers are pretty phenomenal. amazon is the third biggest player in the united states. amazon, apple, google, roku are number one. 86% of the market and growing. phenomenal amounts of devices, 86 million by 2019. ist to remember about amazon the content -- they want easily accessible on apple and google because it locks you into the amazon ecosystem. the reason they want you on amazon prime video is because you become a prime customer. you start to be able to order your goods within 24 hours and buy everything. that is why this content is so crucial to them. jonathan: caroline hyde, fascinating story. we will see how this one develops. in the markets, 47 minutes into the session, let's get a check

on the equity markets. we were heading for a week of losses, but we erased it over the last five trading days. and we areup by 1%, five hours away from the labor market report. everyone is waiting. 1.2%, the by financials leading the game. coming up, we hear exclusively from the ceo about the advice he would give to glencore's ceo. stay tuned for that, you don't want to miss it. ♪

jonathan: welcome back, im jonathan ferro. what a week it has been in the markets. let's wrap it up with some charts that matter to you. .n japan, a lot of data industrial production figures , raisinged estimates concerns that japan may have fallen into its second recession since the prime minister to government. meanwhile, the year for investors to forget -- we close the books on a brutal third quarter. withs been a tough run losses across all main asset classes except bonds so far this year. and what a week for glencore --

on monday, the commodity charts suddenly and almost inexplicably longed 30%, the biggest daily drop ever. the next day it's like to the most on record. the stock had albeit briefly fully recovered on the week. manus cranny spoke exclusively and provocatively asked what advice he would give to glencore's embattled ceo. >> keep your composure. case, thehink is the perception of the market is completely different from reality, focus on communications and address the concerns. quickly to acted redo the balance sheet. we communicated on forced perception. i said it will work on the

reduction of my leverage and that. helong as they convinced, will be able to wear this crisis. i am pleased to say that manus joins us now to discuss the interview in the polls coming up. manus, some advice from the stock jen ceo. talk to me. manus: he has been embattled ceo himself. he had to go through restructuring. before quite some time they could decide what it was -- the message was that we are resolutely liquid. we have access to capital. i had one investor in yesterday and they basically said that the was in many ways -- commodity world is a very fickle business.

-- there are a lot of people out there with vengeance with chips to cash in, and that seems to be .he sentiment he said it was not a systemic moment. worrying. bankers have these really tough moments about being president in the commodities date, not just changing the direction at the drop of a hat. when it comes to policy and rates, he is not an advocate of low forever, but there will be more qe. -- iat is a great policy think they are very useful boosters, then the long-term they create distortions in asset prices. you have too much money chasing too few assets. ratesk the fed will raise

. .p, we tended to think the ecb and the japanese central bank might pull through, probably in 2016, which means that money will be available. that is where i remain positive, in particular with europe and equity assets. we have a scenario of progress improvement, helped by the low commodity prices. assets this category of could be considered as not that expensive in this world of ample liquidity. maybe they might do it a little bit sooner. manus: are they going to extend it to? -- they are going for their ipo and that is something they are sticking to. jonathan: today, where are we?

jobs.ours away from i will put you on the spot -- will this continue to greenlight the fed? manus: it has the green light. it's just what to do about the flashing amber lights. jonathan: so perfectly put. "the pulse" is coming up. equity markets pushing a high -- i am on twitter. i am looking at the ftse 100 up one percentage point in the stoxx 600 that has a raised all the losses in this messy, messy week of trading. best of luck for the rest of your day and a beautiful day right here in london. ♪

manus: jobs day in the usa. will today's crucial figures give the fed the greenlight for liftoff? overreaction. interviewusive, we abbas to get his perception of the markets response. >> perception is distorted. week. glencore's wild could this be the commodity markets moment?