>> from bloomberg headquarters in new york, good afternoon. i'm david gora. u.s. markets taking investors on a wild ride. oil rebounds from a near seven-year low with volatility continuing. chipotle shares falling for the fifth straight day. forced to close their boston location after 80 college students got sick after eating there. it is beginning to look a lot like christmas, but it does not feel like it with above average temperatures across most parts of the country. what that could mean for retail. let's head to the markets desk. matt: we have seen markets go down big this morning. we recovered somewhat this afternoon. the dow is now down 150.

the s&p is down 0.6%. s&p went negative for the year this morning when it was down a little bit more than 1%. one of the main reason behind the drops was crude oil. around crashing down 7:30. you could see that we had a real recovery in the late morning and now we are sort of bumping along unchanged territory. crude oil drag everybody down this morning. i also want to point out the euro. there is more strength in dollar-euro. if you go from here -- i'm going to bridge over to brent crude -- that is with the use primarily in europe and trade as a world benchmark. look at my terminal and you will see the spread between -- let me close this little window -- i

have some pop-ups -- you can see the spread between brent and west texas intermediate tightening up so much. it is almost at the same price. brent came down below $40 per barrel. take a look at the metals charts . we saw a real drop in prices for iron, copper -- gold came down as well. if you look at those drops, you can see why we have -- here is copper bouncing back up, gold fell down. is getting crushed again today. is that realran issues and is down again. david: thank you, matt. let's get a check on the bloomberg news this afternoon. mark crumpton has more. mark: thank you.

the secretary of state and the u.n. general secretary have discussed global climate change talks. aimed at producing an agreement by the end of the week. air france will resume flights to tehran for the first time in seven years. it will operate flights three times per week starting in april. tehranerated flights to until 2008. house speaker paul ryan is adding his name to the list of those condemning donald trump's call to ban muslims from the united states. notker ryan says, "it is with the party stands for and more importantly, it is not with the country stands for." the proposal has drawn strong criticism from democrats and republicans. the republican front-runner is not backing down. he is saying it would be a temporary measure. hillary clinton has a commanding

lead -- commanding lead over bernie sanders in iowa. she leads with 55% support among likely democratic caucus-goers. sanders has 33% support according to the monmouth university poll released today. the iowa caucuses are february 1. you can get more on these stories and others at the new bloomberg.com. back to you. david: let's get back to today's market action. while china's weak data sparks worries, it turns out japan is not in recession after all. in europe, growth is being bolstered. the clock is counting down to a fed liftoff. mike ryan joins us. let's start with china. china is one through-line, oil is the other.

this slump continuing into 2015? mike: china is going through a transition. they are trying to transport -- transition from an export-driven economy. we know that is a messy process. the economy goes through these growing pains and you are going to see periods where the traditional older parts of the chinese economy, the ones that have been the drivers of growth, are going to come under some stress. it does not mean the economy is rolling over. we are going through a transition. david: a lot of fear that china is going to go through a hard landing. you are saying that is not necessarily the case. mike: no, i don't. for the reasons i just stated. as china comes to the conclusion that the state-owned enterprises are no longer the growth drivers

-- we find that the old china growth is really stagnating. we are seeing low single-digit growth. the new china economy, the emergent sectors from consumer-led, are growing a double-digit rates. that will be enough to bolster growth. we do think the economy continues to moderate between 6.2% and 6.5%, but we don't see this notion of a hard landing. david: let's talk about oil. today, a very volatile day in the oil market. forecasting oil at 60 dollars in the next 12 months. a bit of optimism. mike: yes, it is dependent on a couple of things. we need to see supply beginning to moderate. we need to see more across-the-board slowing in american production. we'd to see some production .iscipline from opec they have been feeling the proxy war between iran and saudi

arabia. saudi arabia has been pumping as quickly as they can and that has flooded the global supply market. as we start to see more production discipline out of opec, that will help, as well. the third element in 2016 is the demand drivers. i was once told by a colleague of mine that the cure for lower oil price is a lower oil price. it stimulates demand. that can help clear some of the excess supply currently hanging around the energy markets. david: you must hear from clients who are spooked by all , who are worried doing,hat they should be with the forecast looks like in 2016. you are saying, get used to it. mike: in the outlook, one of the things we talk about is that the most important question for investors is not only volatility, but the fact that we are going through a transition.

economy is global going through a growth transition. monetary policy is going through a growth transition. we will see a leadership transition in the united states. all of those things out to the uncertainty. they lead to the volatility and uncertainty in markets. however, we have to be careful to not continue the volatility with a sustained material drag on the markets. tohink assets will continue move higher over the course of 2016. what is important to focus on is that we have to recognize that the type of gains we will see will be different than the last couple of years. we are entering the more mature phase of the bull market. that is typically marked by more measured returns and increases in price volatility. david: are you bullish? mike: i think that term is overused. we are constructive. we think that the better return prospects are outside the u.s. in the developed world, specifically in the eurozone and japan.

we do think the earnings dynamics are better there, the policy backdrop is supportive. it does not take a lot for equity markets, especially in the eurozone, to do better. if we get of a bit of rewriting of stocks, that could give better returns. david: any sectors that are particularly appealing to you? mike: we want those in the u.s. that are geared to where we are in the economic recovery and expansion. we want those that can benefit from secular growth drivers. we want those that are less vulnerable to rate increases. and also those that are independently rated right now. that leads us to technology. in thehe transports industrial sector. we'll select the health care sector. medical devices. we think that benefits from the ongoing demand from the bloombergs. -- from the boomers. we are also overweight energy.

gainshould lead to solid energy over the next four months if we stabilize. we are seeing policy divergence when it comes to monetary policy. it seems like that is becoming a lot less uncertain. we're fairly confident the fed is going to raise rates at the december meeting. is that beginning to get any clearer? mike: i think the fed has basically choreographed this and they have sent a lot of messages about what they intend to do in december. i think it would take something extraordinary for the fed to not raise rates next week. we think they will continue to message through this statement that they will act in a pragmatic manner. they will focus on the fact of data dependency. we will see a moderate pace of

rate hikes through 2016. david: you also look back at 2015. there were some prizes -- surprises. the prospect of greece leaving, the strengthening dollar. what was the biggest surprise? mike: it was probably one of the things that was centered in europe and that was the decision by the swiss national bank to change the currency. i think that have an impact. the follow-through, if you want to think of this at the other end of the year on the currency side, it was china's decision to want -- yuan.u when it was time, it almost gave the impression that china was doing it in reaction to a growth slowdown rather than as a precondition for including the currency in the basket of currencies. david: mike, thank you very much. that is mike ryan with ubs joining us on the set in new york. coming up in the next hour, a mining giant scales back to cope. will rivals follow suit?

christmas may be around the corner. for most parts of the country, it does not feel like it. how the warm weather is hurting and helping some retailers. me atrmer shell ceo joins 2:30 to talk about the day's energy selloff. ♪

david: welcome back to "bloomberg markets." it's time for the bloomberg business flash. the ceo of anheuser-busch in bad told a congressional -- anheuser-busch inbev told a congressional panel that it would increase to mr. competition and not weaken it. would be the deal

positive. morgan stanley will cut 1200 workers worldwide and take a $150 million severance charge in the quarter. promising tops is corporate clients it will be as reliable as his rivals next year. the carrier is offering upgrades. the on-time scores are improving, but it still ranks fifth among the top 13 carriers. you can always get more business news at bloomberg.com. let's get back to one of our big , the slump in commodity prices. we can export data helping to send the bloomberg commodity index to its lowest level since 1999. plunging metal prices are forcing anglo american to take drastic measures, including

strip -- scrapping its dividend. ken hoffman joins us now from princeton new jersey. let's talk about what anglo american is doing. i mentioned some layoffs. those were fairly dramatic. onent to focus on priority -- assets, as they call them. what are their priority one assets? ken: let's set the stage first. when it comes to commodities -- and we look at the date all day long -- the plane has landed and it has landed hard and there was debris all over the runway, the shoots are deployed. it is absolutely the hardest of hard landings that has occurred in china. anglo is looking at prices that .re down 60%-70% share prices are down 70%. they are taking drastic action. very much like the gold space. with their thought process is,

big picture, is that they have a lot of assets, a lot of people -- let's get back to core. we won't tell you everything right away, but we are going to go out there and say, let's cut , cut down ourhalf people to what we do well to save the business. right now, they are trying to save the business. it will be interesting if other companies come to the same realization soon. david: i want to play a bit of tape from february. we have the ceo of rio tinto. here is what he had to say. >> i think that is fantasyland. a wish list idea. it simply cannot happen if you look at the impact on the broad on supply.st we are right down at the bottom, as i mentioned. we are making very, very healthy margins. david: fantasyland. he said it could not happen. what do you say? ken: sam looks like he is in

fantasyland right now. [laughter] cannot getjor miners it through their head how bad china is. they keep producing. on what wea study think the copper producers will produce. even though the price of copper was down 20% last year and down 30% this year, they are going to raise copper production of the other -- and 9% next year when copper demand is down. the stocks have sold incredibly hard. toaking as someone who used be an activist investor, i'm going to these boards and saying, "what the heck are you thinking? what is going through your heads?" on inof insanity is going this industry right now and it is only showing up in the equities, which are just really trounced, and the prices of from materials, which are being absolutely destroyed. david: we see the contraction of capital expenditures. doing away with the dividend

seems like the real headline. will other companies follow suit? ken: we have been finding -- writing a lot about this. mode.re in disaster the first thing to go out the window is the dividend. it is quite substantial for some of these companies. for-profit of a billion dollars a year, so it is pretty easy to jettison that. they really will probably continue to go through their board meetings into december and january and you will continue to see major, major cut in capital expenditure because the boards have to be looking at these guys and saying, europe strategy -- "your strategy of overproducing is not working." i noted listening to you, reading about this before and, you had a company

that had some sense this was .appening what took so long? most managements and most analysts have only been in this industry about 10-12 years. they don't remember how bad this industry could be. they are all getting a dose of the way it was like back in the 1990's when this was a regular occurrence. they believe china bail financial -- they'll this out of the financial crisis and they will bail us out again. look at china, the problems, they are really in pullback mode. until they realize we need to pull back as well, it has been very difficult times for them. you talked to a lot of the investors. they are really beside themselves trying to understand what is going through these miners' minds. you will probably see the others

follow suit in 2016. maybe we can see a bottom then. david: ken, thank you so much. still ahead, the weather outside isnot so frightful and that scaring most retailers during the holiday season, but not all of them. we will have the details next. ♪

bloombergcome back to markets. recent warmer weather in most of the country is putting a damper on shopping habits over the holiday season. some retailers are betting fretting -- benefiting from a rise in temperatures. we were outside a home depot in new york city. hey, david -- >> hey, david. when it comes to warmer weather and retailer, one company's losses are another one costs -- gains. one's

home depot shares have risen by 6%.t people want to get out and do .ome repairs when it is warmer i did speak to the ceo of planolitics. based inesearch firm pennsylvania that looks at how the weather impacts business. take a listen. >> the volumes in the home centers tend to be at their lowest points this time of year, so any swing up in warmer weather is going to show a big percentage basis in the sales versus what they would normally be selling. ramy: and looking at planalytics data, you can see a stark difference in sectors. look at -- looking at diy home centers, we see a bump in revenue of more than $100

million. contrast that to a specialty apparel and mass merchant apparel, a lot of companies that have a lot of warm and winter gear that they invest in -- you can see that there is a loss on to order of $150 million $250 million. david: you mentioned how this has affected retailers. i saw columbia sportswear talking to folks -- a company that relies on a cold winter season. ramy: yeah, that is exactly right. earlier, i spoke with an analyst from william j barrett -- columbia relies on about 80% of their profits for the september through december quarter. when it gets warm, they take a hit. we do see that happening in share prices.

the stock price has fallen by 37%. data also shows that across the country, boot sales have fallen by about 7% to read weather accessories have fallen 10%. david: thank you so much. ahead on "bloomberg markets," the former shell president john hofmeister joins us. a lot of volatility in the oil market today. he will have his opinion on today's oil market selloff. ♪

sure, tv has evolved over the years. it's gotten squarer. brighter. bigger. it's gotten thinner. even curvier. but what's next?

for all binge watchers. movie geeks. sports freaks. x1 from xfinity will change the way you experience tv. tand that's what we're doings to chat xfinity.rself, we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. bloomberg's headquarters in new york, this markets." mark

crumpton has more from our news desk. mark: according to a person with knowledge of the matter, prosper , and online lending company, farouk a loan to sayeed and his wife, the week before they opened fire in san bernardino. been used toy have purchase guns. at the request of france, european union finance ministers met in brussels to talk about ways to combat terrorist financing. they want to better combat financial transfers, freeze assets, and limit movements of cash, and precious metals. the european commissioner for the euro and social dialogue fightinging -- called financial terrorism and absolute necessity.

say one of the baltimore maryland police officers william porter failed to call for a medic despite that freddie gray's been calling for help. porter is the first of six officers to stand trial. iowa caucuses 55 days aboutpollsters disagree who leads the republican presidential field. the latest cnn survey gives donald trump a 13-point lead. monmouth university poll shows texas senator ted cruz leading trump by five percentage points. unlike cnn, monmouth surveyed those who regularly vote in republican primaries. these andt more on other breaking stories 24 hours per day at the new bloomberg.com . i'm mark crumpton.

back to you. david: thanks a much, mark. commodities markets are closing in new york. let's start with metals. mining giant anglo-american will sell assets and scrap its dividend. aluminum falling. the day down.ded morgan stanley is pulling out most of industrial metals training. the bloomberg industrial metals index has tumbled 29% this year. wti prices rebounded as much as 2.5% after dropping to their lowest levels since 2009. wti is settling at $39. for more on the roller coaster day in the oil market, i want to bring in john hofmeister. ton, let me ask you to react the volatility we saw this morning and we have seen the last few weeks. it has been a rocky ride. john it has been a rocky ride.

do a valuable service to the industry. they move the barrels that are produced and they will move the barrels at whatever price it takes to move them and movement is what is critical. we will see it perhaps drop a little more or we could see it begin to rise. nobody really knows. it is all a seller's paradise depending on which way you are going. a buyer's we are in paradise, were cheaper is better and they can hold it for longer and we are seeing this volatility as people try to make the most of each day. david: how much of this is attributable to what happened in vienna last week at the opec meeting where the outcome is uncertain? is that what is causing this? david: well, it is -- is, but there is a bright light in all of this. the sooner we bottom out because we see the cutbacks that are

taking place, 2015, 2016, the into 2018,f 2017 2018 into 2019, the more we see that happening, the sooner we will bottom out. there is a 92 million barrel per day demand and it is still growing worldwide. we are producing around 93. that is not a huge overproduction. the reality is that it is too much. as long as it is too much and as long as we are letting free-market economics determined the price rather than some kind of a false mechanism like restraining production, then the market is going to be what the market is. companies have to adjust to that. i think the big majors who have been through this for a hundred years or more know exactly what they need to do. they never rise to the bait of the high price, nor do they fear or worry all that much about low price. they test everything across a range of prices and they are set

for whatever the future holds. other independents, other more marginal companies have a much tougher time. the real problem is in the supply chain. the supply chain is seeing serious value destruction because inventories are basically just being cut across the board. terms of new products production in the supply chain, there is very little going on. in terms of the cannibalization of existing inventory, it is happening 24 hours per day. when the turnaround comes, we are going to see the net effect of all of that value destruction and we are going to see prices pop. they will pop quickly because there will not be an availability because the supply chain is broken. david: john, i want to go back to that opec meeting and get your take on what opec has become or is becoming. you have saudi arabia leading the push. you have members of the group raising flags. talk to me about the role of opec going forward and what it

means that it has this level of dissent in the ranks. you can divide opec in half. you have the parasitic half, which just kind of climbs on and writes the right for whatever it is worth based upon the response it will have. the responsible half really care about the global supply of oil and the balance of oil in terms of the world economy and the support of the world economy through fair prices. the parasitic side is willing to watch others suffer so that it can gain, including countries like venezuela and a few others, that really are just writing for the ride. i think the gentleman or the respectable side have just had a belly full of the parasites. why should they suffer at the hand of the parasites? let them stand on their own. we have had this internal dissension within opec, which

has really said, let's let the market decide. in addition, the saudi's have a major grievance against iran and a major grievance against russia and they are tying -- tired of cutting back their production so that iran and russia can have a field day on high prices. let them get a little test of the market, see how they like it. of the saudi's have a lot money put aside, they can stand this for a wild. iran and russia have nothing set aside. they are suffering mildly -- mightily. their currencies reflect it. their inability to invest will reflect it. they are learning a harsh lesson in market economics and it is about time. whether opec for goes back to campaigning -- constraining production remains to be seen. meanwhile, the u.s. knows how to take care of the u.s. we are suffering mightily, but we will recover. we will or how to do things more effectively with greater cost productivity.

overall, the world is going to need 100 million barrels of oil around 2020. how do we get to 100 million --rels is an open question especially when for the next two or three years, we are going to see major capital constraint because of the low price today. we will see prices snap. david: that is john hofmeister. thank you so much. joining us from houston. theme ofith the parasites, shares of chipotle falling again. the mexican food chain closing a restaurant in boston after dozens of students got sick. to asirus is being leaned the problem -- not a parasite. but that is not even the problem. get us up to speed with what happened in boston. 80 students got sick, including of -- members of the men's basketball team at boston college.

they have made a big point of saying that there has been no new e. coli cases since november 7. nobody exposed after november 7. yes, we have this issue, it started in seattle and portland, but that is contained and this is a separate incident. he was another bad headline, they are getting slammed again. they had a nora virus incident in california. this is feeding questions about food safety standards and their business model. david: it will take a couple of days to figure out whether they are right. so much waiting involved. still have not been able to pinpoint what has happened, where in the supplying chain this happened. is there a national effort underway to find out what happened? >> cdc is looking into the e. coli outbreak. frustrationit of from chipotle in the way it has been handled by cdc because it has dripped and trapped --

drabbed. until cdc says all clear, chipotle cannot move on. that is pretty incredible risk for them in the stock market. david: the company wants to get ahead of this as best they can. how is the company trying to do this? the local sourcing they are doing is being called into question. >> they are working with a laboratory in seattle, i.e. age theeh, they are looking at farm to fork of their inedients. they are going to change the way they have handled tomatoes and lettuce and cilantro. they are saying all the right things. they say, we will be the safest in the industry once it is all set and i know we will pay to do this. but until cdc says all clear and these headlines q coming day after day, it is difficult for them to move on. david: let me ask you what it means for this company's bottom line to implement the testing

and safety measures you are talking about? >> they did not give much specificity. they said it will pressure margins, but it will be something to watch as we get earnings reports going out for the next couple quarters. this is a company that already had questions about growth before the food safety stuff hit. david: craig, thank you so much. coming up in the next 20 minutes , donald trump causing yet another uproar -- this time over his suggestion to block all muslims from entering the u.s. some will say this will not be enough to end his bid for the presidency. google is expanding into life science units. democratic senator bob casey joins us to discuss friday's deadline. ♪

welcome back to "bloomberg markets." from the white house to the middle east to presidential candidates, there was swift reaction to donald trump's call to ban all muslims from entering the u.s. he is not backing down from his statements. he said he stands by what he said. donald trump: donald j trump is calling for a total and complete shutdown of muslims entering the united states until our country's representatives can figure out what the hell is going on. [cheers and applause] david: joining me now is john a heilemann. john: you've got it correct. the research capacities of bloomberg are stunning at the struck by thei'm

applause and by how donald trump has stuck by this -- stood by this all through the day. not backed down from almost anything of controversy he has said throughout this campaign or his entire public career. atare going back and looking the history of incendiary comments he has made on the show tonight. not like to apologize. he was quoted on a television show the other day saying that he would be happy to apologize if he was ever wrong about anything. at the level of his personal sense of conviction, he believes he is right and that the politics of it -- he has been rewarded for standing by some of these controversial statements. he is getting criticized for this thing in a much more thoroughgoing and much more universal way than anything he said before. david: the speaker of the house, paul ryan coming out against this. mitt romney tweeting out

agreeing. the white house press secretary addressed and agreed with this in moment to go. hear a lot from mr. trump that seems far-fetched and unrealistic. in addition to being grotesque and offensive. i guess you would have to ask him. the president has made quite clear his view that imposing some kind of religious test on those seeking to enter or return to the united states runs counter to the constitution. david: he was responding to this. have we heard from the republican party? john: we have. they have, very strongly. it is pretty striking. it would be interesting whether the republican establishment, throughout the elected officials and the candidates, they have taken a strong stand over the course of the day. the establishment has wanted to stop trump all along, but they have been afraid of trying to

attack him or criticize them vociferously because they are afraid that if they do that, he might decide to return as an independent candidate come next fall. there has been kind of a kid gloves approach to trump. they want to stop him, but they don't want to take a stand. this was sort of a bridge too far. the party has come out in a pretty full throated way to criticize and condemn him for the things he has said. now what? good anything more tangible happen? will they retreat back into kid see a more will we aggressive posture against trump going forward? david: thanks a much, john. join him and mark halperin tonight on "all do respect."

it is time for the "bloomberg business flash." air france says it lost $54 million since the paris attacks in november. bookings slumped sharply after the attack. they say it could take six months before bookings return to normal levels. canadian pacific has made a revised takeover bid that is financially more attractive. norfolk southern says the offer is less than the $28 billion the railroad had already received. t-mobile's popular advertising campaign is deceptive, new york says. the attorney general is looking into it. t-mobile's chief says the company stands by the ads. you can always get more business news at bloomberg.com. stocks sharply in the red today off the lows of the session. the s&p down for the fourth time in five days. alix steel joins me now for a look at what has been happening in the energy sector. taking a look at the oil

price today. it has been somewhat of a reversal of fortune. we had a decline yesterday that was quite severe, but oil is trending around the neutral line. this a realcall reversal, we are going to have to take out the highs we saw yesterday, which is just over $40 per barrel. it is a far cry from being in the clear. we also have the energy information administration boosting estimates for production this year. that also hampers any kind of rally. that is bleeding over into the energy sector. off the lows of the session -- part of that is that those natural gas, shale names are up today. they are having a little bit of a breather after getting really hammered over the last couple of days. versuslook at the s&p the energy sector over the past few years. , you tend to see some

kind of correlation, however, mid 2014, that correlation tended to shift a little bit -- meaning that energy stocks may not be the drag on the overall stock market that we might have suspected. i do want to take a look at exxon. it is big oil. it is an integrated name. that is also seeing some pain today. that is surprising to me. the lower oil prices are good in some respects for exxon. it helps those refining margins. exxon shaving about 3.6% off the etfrn of the fp why, the that tracks the s&p. i have to take a look at one of my favorite stocks of the day -- kindergarten. organ.dergarte m the board is currently meeting on its dividend. they are considering a cut. this would be huge. this is a master limited partnership. they live and breathe by their

dividend payment. if they cannot make the dividend payment, that would be a huge transition shift for the sector. david: alex, thank you so much. up, google ventures and google life-sciences rebrand. more on that strategy coming up next. ♪

david: welcome back to "bloomberg markets." google ventures and google life-sciences have rebranded. google ventures will now go by gv. ver-sciences will now go by ily. joining me now from san francisco to discuss what this means is emily chang, the anchor of bloomberg west. the bifurcated google is becoming clearer. why is out for that doing this?

emily: we are saying verily. that is how i like to pronounce it. seeing parts of alphabets assert their independence. i was at the summit yesterday and was speaking to build marist, the ceo of -- bill mar s ris, the ceo of gv. he said he is aligned with entrepreneurs. gv has not been one of the top firms that entrepreneurs want to go to traditionally. gv has always offered the resources of google. they are saying, we are just like any other top firm, entrepreneurs first. it is really interesting. gv is going to pull back a little bit on seed stage investing.

they are looking at mid to late stage. they are looking at companies that are not afraid to go public. he thinks companies are staying private too long. that: is that a sentiment you are hearing? emily: horowitz pulled back on seed stage investing recently. it is a trend already starting to play out. kleiner perkins still has a very robust seed stage investment arm. the guy who runs that said we make a decision and 45 minutes to an hour. we believe a quick yes or no is better than a slow maybe. i'm thinking, there is no way you can know if a company is going to be a hit in 45 minutes to an hour, but the idea is to build relationships with entrepreneurs, to build a pipeline. you just know exactly of these companies are going to turn out to be hits. david: what is happening with life? where is google putting its money in that? what is it looking at? emily: this life-sciences arm or

verily, as it is called now, they are looking at contact monitors,h glucose this is not their antiaging arm. life-sciences, curing disease -- it is a big focus for verily and google ventures. those are the kind of companies they want to be investing in. that is emily chang, anchor of "bloomberg west." tune in tonight for her interview with bill maris. that is 6:00 eastern time, 3:00 pacific. ♪ sure, tv has evolved over the years.

it's gotten squarer. brighter. bigger. it's gotten thinner. even curvier. but what's next?

for all binge watchers. movie geeks. sports freaks. x1 from xfinity will change the way you experience tv. tand that's what we're doings to chat xfinity.rself, we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. betty: welcome to bloomberg markets.

♪ betty: from bloomberg headquarters in new york, good afternoon. a choppy trading session today so far. they collapse of commodity prices dragging markets mostly lower. stocks are trying to turn positive here in late trade. where is oil headed in both the short and long-term? amid all the drama and the 2016 presidential race, another story is brewing in washington, the shutdown of the federal government unless congress can get a deal done. we are live on the hill. we are about an hour away from the close of trade.