manchester, new hampshire shortly after the news broke us afternoon. mr. trump: hillary clinton's corruption is on a scale we have never seen before. her take heret criminal scheme into the oval office. mark: during an appearance in cedar rapids, iowa, secretary clinton did not mention the fbi's decision. "the new york times" sites law-enforcement officials who say the new e-mails were discovered after the bureau seized electronic devices mrs.ging to an aide to clinton and her husband, disgraced former new york congressman anthony weiner. to withinmp is polled seven points of clinton in virginia, according to a new center --e lesson what's in center. trump and trailed by 12 points

in the same poll last week. the united nations has voted russia off the human rights council. it is a stunning rebuke for moscow which is accused of war crimes over its actions in syria. russia lost its regional seat to hungary and croatia. u.n. ambassador rice playing down the importance of the move. the pentagon has canceled 22 programs in advanced development after spending a combined $58.3 billion on them since 2002. that is according to the defense department's latest assessment of its acquisition performance. among the weapons, boeing's ground-based vehicle network for the army. global news 24 hours a day, powered by more than 2600 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg.

♪ scarlet: we are 30 minutes from the close of trading in the united states, live from bloomberg's world headquarters in new york, i'm scarlet fu. matt: i matt miller. oliver: i am oliver renick. matt: -- oliver: the question is, "what'd you miss?" matt: word of the fbi's renewed investigation sent u.s. shares dropping near session highs. mexico's peso seen as a proxy for market perception. ofwill have full coverage this dramatic development as we count you down to the u.s.

closing bell. ♪ scarlet: take a look at where the major indexes stand when the headline growth that the fbi is looking into new e-mails, a leg lower in equity indexes and then they stabilized, they took .nother leg down at its low point the dow jones industrial average was trading at 18,094, and in terms of what that meant for a point drop, that was a 74 point decline. we recovered a big chunk of that. you can see the dow industrials now positive on the day. in terms of volume, it has really been picking up today. the trading participation is now 20% higher than this 20 day average. usually a slow friday -- it's been slow on the political front as well these last couple days. you are looking at the s&p 500

inching back, still off by 2/10 of 1%. oliver: it is a little bit still in the red but not to the extent that we saw a earlier. the fbi is reopening hillary mexican peso, a pretty big jump up. matters,lain why that right? a lot of people look at the peso as proxy for donald trump. should he win, it weakens. should he lose, it gets stronger. we saw at the same time a drop these clintonn headlines came out, when these fbi headlines came out. and a jump, or a drop in the peso. a jump in the dollar versus the peso. oliver: alex wayne is with

bloomberg in washington. we were just reading some headlines about the device associated with this latest batch of e-mails. i guess the fbi wants to look at them. can you give us some insight on where the story is going? >> "the new york times" reported that these new e-mails were discovered during the course of the investigation and to anthony weser's -- weiner's --. an incidentalwas thing. they weren't seeking out new clinton e-mails. earliern't part of the investigation, this is something separate and they stumbled upon it. >> it is so unclear what is going on here. he would be really helpful if maybe the fbi would actually tell us something, explain what the heck they are up to. comey issued this letter according to "newsweek." he testified on this case to congress a couple months ago and under justice department rules,

he had two update congress on any developments in the investigation because of that prior testimony. said was,hen he although the fbi cannot get assess whether this material may be significant, and i cannot predict how long it will take us to complete this additional work, i believe it is important to update. that is kind of where we are at. he did not give any timeline. it raised a lot of questions. matt: he seems to have provided as little information -- >> did basically provided as much information as he had to and no more than that right we have described it as the investigation being reopened. he did not use that word. jason chaffetz, from utah, who is chairman of the oversight committee, use that word. the fbi shouldy, take appropriate investigative steps designed to allow investigators to review these e-mails. he'sessentially saying

going to start investigating. whether you want to call that a reopening, the fbi investigating, that is pretty pedantic. >> it is news, regardless. matt: he is saying he will continue investigating this. if you don't want to call that reopening, what do you want to call it? >> i think probably what it should be called is they are looking at new e-mails discovered in an earlier investigation. from the semantics -- obviously there's a big conversation now that immediately right after this, people started speculating, commenting on whether comey should even be giving grandiose announcements are making this as public as it is. there is both sides to that. is there a precedent in any way for presidential candidates, especially ones who points so strongly is still under this investigation? does he have an obligation to

keep the people informed? only obligation here apparently was that according to justice department rules, he had in the congress apprised investigation once he testified to them about it. other than that, i don't think he was required to disclose. are there any calls for the fbi director james comey to speak publicly on this and answer more questions? >> yes. i would like him to do that, yeah. it's difficult for him. he's already under a lot of fire just for talking publicly about this case in the first place. the fbi usually does not describe to the public that the core seven investigation until it's over and they either make charges or they don't. charges, theymake often don't tell the public that much. they often only tell us about cases they are investigating. we already know more about this

case than we normally would. matt: what do you think about the strategic decision, it seems it has been made campaign wide, for hillary clinton to ignore this issue when she goes on a stump speech? bill clinton also said nothing about this. surrogateat clinton's who had been booked previously to discuss other issues have now canceled those appointments because of this and their unwillingness to talk about it. >> it's tough. probably the clinton campaign knows as much about this as we do. they are scrambling to figure out what the fbi is looking at and how it acts their theirate -- affects candidate. i don't falter too much for going to a rally an hour or two after the news broke and pretending it didn't happen. a political rally is probably not the right venue to address this. it would be nice. matt: not even to comment and

get it out of the way? everyone is thinking, i wonder what she's going to say about the e-mails. it's a bombshell. to completely ignore it, does it not seem preprogrammed and robotic and exactly the way she doesn't want to be received? it doesn't surprise me that she would not bring it up at a political rally like that immediately after it happened. oliver: looking at e-mails that they found on anthony weiner's cell phone, this according to the "the new york times" report. it's unlikely those are on some kind of a secure server, right? >> they are on weiner's cell phone. they weren't on a secure device. he wasn't a government official during the period. all of this is unclear. "the new york times" reported that they seized devices from her as well.

she wasn't part of the government as of about 4 years ago. oliver: thanks so much for joining and talking about that with us, alex wayne of bloomberg news. we will continue to bring all the latest developments on this issue. scarlet: we have other breaking news as well, some headlines out of opec. they are meeting in vienna today and also tomorrow, and they have ended their meeting according to a delegate. they are said to have not reached any final deals on country limits, but they did make progress on their agreement. cartel algiers, the oil agreed to cut production but they didn't really have any details. they did not decide which country or how much each country would cut by. apparently they are making progress on that agreement but have not yet reached a final deal. nymex crude down 2%. this was before the headlines came out. we will continue to break into these -- cover these breaking stories for you. this is bloomberg. ♪

scarlet: we are continuing to monitor the headlines after the fbi sent a letter to congress saying it is looking into new e-mails related, or in an unrelated case that could be linked to the previous investigation into hillary clinton her use of a private e-mail server. the white house has now offered a comment. what we know is that they say they are not in a position to second-guess the fbi's work on hillary clinton. "the new york times" has reported that the e-mails here are not from hillary clinton's server, but from anthony weiner's cell phone. anthony weiner was married to one of hillary clinton's closest advisers. matt: did they not just very

recently split up? oliver:oliver: white house spokn oliver: this gives you an ideas

of what could happen and how much the market is pricing in an assumed clinton win. to continue this conversation, let's bring in julian emmanuel. you before this e-mail business came out or these headlines came out in the last two hours. what do you make of this, how does this change your view? >> it doesn't change our view merry for -- very much at all. we did some work months ago that haded when polling candidates differentials less than 10% in the months prior to the election, the expectation would be an uncertain outcome. more market volatility, perhaps even market volatility extending after the election. as we have seen, the market resilience in the face of this obviously greater uncertainty tells you that the underlying trend, the important thing for the market in 2017's

earnings and the economy, both of which look very good at this point. is there any concern from a bullish investor standpoint? if you are long on the market, is there any concern? we are back to even. it is a pretty dramatic jolt. it wasn't even the sector people associate with being negative. the concern is as it always is with markets, the extent of greater uncertainty. markets do not tend to respond favorably to greater uncertainty. you can see that in the currency market. the dollar was actually week against everything except the mexican peso, for obvious reasons. there's going to be a next

vacation of nervousness into the vote, and perhaps beyond. matt: i want to bring up a chart that you shared with us. before you do that, let me break in here. john podesta, the chairman of hillary's campaign, has released a statement. here is what he's saying. he is saying that it is extraordinary that director fbi took this the action and it happens near the election. he said comey should provide the public more information. he also said he's confident that the fbi won't produce new conclusions again. this was a statement in response to the fbi director james comey. he is the chairman for the hillary clinton campaign for president. oliver: and obviously the subject of all the wikileaks e-mails that come out were largely associated with him. scarlet: a lot of his e-mails were hacked, apparently. >> this is the first comment from her campaign since she did

not mention it in that speech in iowa. we will continue to monitor this, talking about the market impact. i want to bring in another angle. you are talking about markets focusing on earnings, the growth of the economy. one part of that is definitely the fed and interest rates. this any election related volatility have a chance to do to her a hike in december? thought thatas any the fed would move in november, that's off the table. there's no reason for that to happen before the election. scarlet: let's pull it up. vedi cannot imagine it mo materially. scarlet: just 61%. >> quite a bit. so we are down about 11%. matt: this can fluctuate a lot. scarlet: i'm looking at ois.

yesterday, 64%. if you look at today, it is now 61%. in the past we have seen it when the market is pricing -- greater than 60 has been the threshold in the past, that is when the fed has felt more comfortable to go ahead and move. we don't expect a great selloff in the markets either way following the election. there could be more volatility, absolutely. look at market action like today, it tells you there's an underlying bid. because the economy is strong, because earnings are good. that is what will ultimately cause the fed to move in december. matt: what you think the market was pricing and as far as a brexit vote? what you think the market is pricing in right now as far as a hillary clinton win? >> it's difficult to handicap that.

matt: clearly markets thought the remain cap went win the brexit vote. >> that was an event that had never happened before. the thing about the presidential election is that we have had polling data for years and years. we made the point coming into october that the polling data was too close to call. events obviously are going to make it a nailbiter either way. let's focus more on the equity market. we are in a quarter here that is pretty solid for earnings. that green area year over year in terms of growth, how does that impact where you project markets to go over the next 12 months? >> there's no question about the fact that there is a sense of relief that this quarter it's shaping up to be better than expected, and reinforces our view that 2017 is going to grow. the other thing we have seen

that we are quite encouraged by up estimatesn's were too high coming into the earnings season. the expectation was 14% growth. that is actually moderating, and the fact that the equity markets has more or less taken that in have walkedanies down analysts view's 2017 is very encouraging for us. giveet: does this companies another reason to say they have no visibility into what will happen next quarter? >> it may. but i think that investors' attitude there is -- that kind of attitude is likely to be punished. i don't think you will see that incrementally greater. scarlet: thank you so much. we just want to reconfirm some headlines here and also tell you that bloomberg news has confirmed that we are reporting

that the e-mails the fbi is looking into any connection to hillary clinton's use of a private e-mail server has to do with anthony weiner or a probe into anthony weiner and therefore likely from his cell phone. "the new york times" reported this earlier. we continue to monitor the fallout from the announcement. this is bloomberg. ♪

scarlet: i'm scarlet fu. aside from politics, you may have missed the worst performers in the s&p 500. it is a drug distributor seeing its biggest drop since 1999. it is an old-school function here and bloomberg. he gives you a snapshot of everything here. what i want to pay attention to is the moves down in the stock. if you look at the gic, intraday chart, you can see it gaps lower at the open after the company said in a conference call last

night. there's a price were going on. the company cutting its forecast. you can see here that the competitors, as well as some other names, decliningyou can se by quite a bit as well. it is a faction of the bloomberg that allows you to follow the campaign step-by-step. there has been a ton of news. headlines are rolling across the top. when i wanted to look at was in onng in -- zeroing this electoral map. you can see who is ahead in which states. strong blue is solid clinton. the gray areas are too close to call. a toss-up in florida. a toss-up in nevada and arizona. it's a great way to look at what is going on in pennsylvania and

north carolina. the market closes next. take a look at the major indexes. we are back in the red here with four minutes to go before the close. this is bloomberg. ♪

scarlet: we're moments away from

the closing bell. the fbi said it is reopening an investigation into hillary clinton's use of an authorized e-mail server. i'm scarlet fu. matt: i'm matt miller. and i'm oliverliver: renick. you can watch us on twitter every weekday. today is an epic day for twitter. scarlet: our market minute now, u.s. stocks are swinging. they are fluctuating most of the afternoon. james comey send an e-mail to members of congress saying his looking into additional e-mails that have to do with hillary clinton. he did not give much detail.

we did get some more reporting that indicated these e-mails were from anthony weiner's cell phone. back, they clawed back from their losses. and all is said and down the dow .inished little changed the nasdaq money by half of 1%. matt: the near times is saying the fbi got e-mails from anthony weiner's devised but also took his wife's devise. is fun to talk about. more interesting to see what she had on her devise. -- de wev had half-and-half winners and losers. ice. big losers were health care and

financials. you take a look at the big losers on the s&p scarlet was group --bout the cas these are the top three percentage losers. mckesson, and they are amerisourcebergen. pretty soon you will be will to go on a royal caribbean bow and go to cuba. oliver: you can go through mexico first. let's talk about bonds. this is an interesting move. strengthening as yields move down from the two and 10 year treasury. dekes accelerated.

-- this accelerated further in the yield as did the 10 year as well. off mentalityisk come in. there are some pretty big moves here. the tenure in particular had a pretty good job. we are talking bonds here. in 19% jump. scarlet: and currencies we need to focus on the mexican peso. the headline the fbi is setening its investigation the pace of down. it has since given back those losses.

in terms of the other major , it was already the worst performer among the emerging market currencies. once the fbi headline came out the dollar got another leg up. those are today's market minutes. i want to read part of john podesta statement. he is the chairman of hillary clinton's campaign for president. he said upon completing this investigation james comey declared no reason they would forward with a case like this. and added that it was not even a close call. donald and his allies have been second-guessing the fbi and both public and private browbeating career officials.

he said the fbi director should immediately provide more information contained in the letter he sent eight republican chairman. it is extraordinary we would season thing like this 11 days out from a presidential election. ian bremmer joins us by phone. there are so many places to start. why don't we begin with director james comey's disclosure. was this the responsible thing for him to do? flex i doubt he had much of a choice. first of all, the fact that he had -- he is aware of e-mails that would have contradicted testimony he gave in the investigation to congress requires him to make that disclosure. not only would it be delegitimizing for him to hold ifto it beyond the election

they had found out about it but frankly with that kind of information it would have leaked within the fbi very soon anyway. i expect his hand was forced. there is still big questions about what exactly is in these e-mails that have come from anthony weiner, and how they connect to hillary, and in what way they contradict his testimony what we have seen so far is they don't believe this is going to get concluded before the election. that creates opportunities for donald trump to cause trouble around it. mandatewhat possible they have to continue to look into this and inform congress as well? it seems like that the clinton camp is going to make the case that this is politically

motivated. does he have some sort of mandate to keep the people informed? ? >> he has mandate to keep congress informed. he is the one who gave testimony under oath. if new e-mails from a separate , aestigation of the 16 case felony 16 case with this underage girl leads to the fbi getting additional material that says komi contradicts that he's required to bring that up to congress. once you bring that up it's going to get out. if you are john podesta or hillary clinton, given that

there is less than two weeks to go, there's no reason not to say this is political. the final information may not come out and you are trying to do everything possible to dodge attacks. the more there is uncertainty in debate among people covering this case the more people are going to say the fbi did something wrong. but i see no choice for the director of the fbi to take the action he has taken. matt: we already know from komi's testimony hillary clinton was sending classified e-mails using a private server. it seems he gave her the benefit of the doubt. what could be in there that is worse than that? >> the question is not about

what is worse. the question is what is his testimony that these e-mails contradict? whereere an occasion either they were aware of certain types of classified information or timing, or when it was labeled classified that was light about during the investigation? that kind of thing would lead to this. it is not as if the american public is not aware that this and bywas inappropriate all means illegal. it's clear hillary clinton and her campaign did everything that.le to obfuscate i'm not sure there's a smoking is except that this case effectively opened. what you thought was in the past is now going to continue through

the election. especially because it is involving anthony weiner and , this is great to take a lot of the news cycle over the next week and a half. it's going to be hard for them to dig out of it with them so far behind in terms of ground game with the republican party deciding they are no longer supporting his campaign, and instead going to support house races. it is meaningful in terms of the .utcome of a lot of those races it is going to create more uncertainty. a political analyst was

responding to the latest breaking news. he said trample over play a strong hand. trumps numbers tend to improve. although he is clinically immune from allowing someone else to monopolize coverage. i wonder how much it matters what trump does. what parallel can you draw between what we saw happen in great britain with the brexit vote? remain,were pricing in that did not go down. it looks like they are pricing in a clinton win. where the chances this goes the way that did? >> it is less likely. i do accept that there is a large parallel to be drawn because in both cases it is a fundamentally a protest vote. it is not because they believe the brexit was going to help

them. they wanted to protest against the entire establishment. oft is certainly emblematic donald trump supporters. the difference is in the netted states the left has been much more coherent and cohesive. you have bernie sanders, elizabeth worn, everybody on the progressive side, not necessarily enamored with hillary but certainly in the never trump camp. british to my graphics percent white.voting public, in the united states come hispanic, black, asian, all populations that are extremely opposed to donald trump and his campaign. and the amount of scandals around donald trump on every front have exceeded what we have seen around hillary who would

lose to any of the republican candidate, but not donald trump himself. i think it is unlikely. say it is not that delicate. i wonder how important turnout is. one of the big problems for the remain cap is a lot of voters assume they would win and just did not go. i wonder what you think about the clinton camp, would be clinton voters saying i think she's going to win, i might as well not show up. >> brexit is a special referendum just about that. harder to get people to turn out . a presidential election in the united states, more consistent. people are just going through the president. there are a lot of referendums, like marijuana legalization, issues that matter locally. all of these things. and there are a lot of early

voters. i am not saying this doesn't matter. it clearly matters. i think it matters more for down ballot voting. races. senate oliver: real quickly, is clinton right to not address it in a speech and just go through the desta? >> i don't know about that. she is not going to be will to avoid it for long. we know that historically hillary doesn't lie wellpoint she comes across as overly scripted and defensive. they are going to want to practice with her. she will do better if she goes through this five or six times

before she has to take it from the field. scarlet: ian bremmer, joining us by phone. thank you for your perspective. matt: it has been a busy day. what did you miss? the fastest u.s. growth in two years. the world's largest economy emerging from an extended funk? how is this moving markets? and the polls. millions loss access to one of the most popular websites last week. this is bloomberg.

♪

matt: more perspective on the story regarding the fbi reopening an investigation into hillary clinton's e-mails. our guest joins us now on the phone. jonathan, what do you make of this? ,here is an argument going on was it wrong and almost political for james comey to reopen this in such a public way or did he have no other choice? he may have perjured himself in previous testimony? >> i don't think he perjured himself. he did make a commitment to

congress about this investigation. there is new information. to updateto have them. he probably was concerned about 's reputation. i think he probably had an obligation to do something. it's not clear that the letter he wrote was very wise. >> the letter was three paragraphs. it didn't give specifics. consequent reporting has indicated it these e-mails are not from hillary clinton, but rather anthony weiner. why would the fbi not preclude include that? once we have no information. seem to bet they anthony weiner's e-mails or his wives e-mails.

we don't know what they say. perhaps this is an e-mail saying here is where we hid all the good stuff or perhaps it says i'm sure you leave be a intervention -- the libyan intervention was wise. this could turn out to be a big nothing. we don't really know. matt: nothing in terms of the content. i'm wondering about whether or not it is going to excite people sides to part of the go out and vote? leads in michigan and pennsylvania. perhaps not everything is written off. is this what donald trump needs to reinvigorate his supporters? >> it seems unlikely to me this changes anything.

most voters by this point are either clinton voters or truck voters. we've had 16 million people who have voted. unless there is significant new news it is not too likely this is going to make a difference. , whatthat is the case does this do to her mandate after the election is over? how much can she get done? >> it depends on what happens. it is likely this is a nothing. they will look at the e-mails. they will find out there's nothing to it. somebody else did something with classified information. or maybe there is nothing at all. it goes away and it is forgotten. plenty of things happen towards the end of a campaign that seem

like a big deal which would forget about within days. certainly within months. matt: days would be better than months for her. when we asked ian bremmer why she didn't address this issue, it came out while she was on the plane. reporters asked her. she gave an entire stump speech without mentioning it. she doesn't lie well historically. worket: they are going to on how she talks about it. matt: i know that sounds bad but isn't that the risk she runs by completely ignoring this when she is giving a speech to hundreds or thousands of voters who know what is happening? we in the news media, we will

follow this closely, it matters a lot. normal people are coming home from work on friday afternoon. they are not even flipping on the news necessarily. they are going to see this sideways. they are not going to care whether she addressed it right away are not. it is always smartest to wait for the facts. scarlet: that is a good point. thank you for joining us. the rise of private jets. we talked about that. we will be back with more. ♪

scarlet: i'm scarlet fu. what did you miss? divee going to take a deep into the bloomberg. you can find all of the charts at the bottom of the screen. scare ourcharts that guests. this is the chart we have picked. it is the network as disposable income. tolth is rising relative income. you are seeing a huge pickup. the last time that happened was the.com bubble and the mid-2000. it is an uncomfortable comparison. >> we have a bunch of charts from smart people.

i have my goal from j.p. morgan. this chart, you can find on the bp terminal. 4583. i think it is a fascinating look at how little domestic investment we've got is the ratio falls compared to gdp. it dropped these horizontal lines. the chart goes back to the 40's. it is a long chart. the biggest drop in domestic investment after the great recession. it doesn't really recover much in 2016. that is a problem. oliver: i like any chart with the recession on it. coming up next, jp in the third quarter grew 3.9%.

this is bloomberg.

scarlet: let's get to first word news. donald trump is praising the fbi's decision to investigate new e-mails found in the probe of hillary clinton's private server. he addressed a crowd in manchester, new hampshire. >> hillary clinton's corruption is on a scale we have never seen before. take herot let her criminal scheme into the oval office. mark: clinton's campaign chairman calls on the fbi director to provide more details

on that investigation. election day is a week and a half away. americans have voted early. democrats are casting ballots with greater intensity in north carolina and colorado. republicans have an advantage in ohio and iowa. there is a surge of early voting in florida. at chicago o'hare have been ordered on hold after a plane caught fire. departed forht 383 miami this afternoon when it blew a tire and damaged an engine. everyone was evacuated. no injuries were reported. the united nations voted rush off the human rights council. it was a stunning rebuke for the country accused of war crimes over its action in syria. ambassadores you an

played down the importance of the loss. day, thiss 24 hours a is bloomberg. scarlet: let's get a recap of today's market action. more uncertainty related to the election. points from s&p losing 3/10 of 1% closing at a six week low with stocks erasing their games. the currency pair is nicely encapsulating this, the dollar mexican peso. you can see the dollar surging because as donald trump sods of , theng perhaps increased peso genuinely tends to weaken. matt: gdp grew 2.9%.

you may have forgotten this. this could potentially bolster rates rightraise after the election. those of the three charts you have to see about this. it seems like great news. 2.9%. it is like cause to celebrate. the economy is bouncing back. oliver: there are always caveats. it was all from the volatile inventory component. the consumer aspect softened a little bit. that is what people are honing in on. the first one is not from the gdp report. it is from the consumer survey on inflation expectations. >> it is number 4628.

it is really not good from the consumer perspective. . oliver: in terms of that policy, if you look at this chart that has had a record low. at the table at the fed would be very different. you would have a lot more willingness to raise interest rates. matt: the white line is survey participants expect. oliver: the blue line is the immediate response, expected inflation 5-10 years from now. the white line is college educated respondents. college educated respondents are the ones driving this decline in inflation expectation. lesser educated folks have higher expectations holding up.

the less noisy college-educated. matt: is this how much you think you're going to have to pay for stuff or how much you are going to be paid? i would like the answer to those two things. oliver: this is the former, it is about prices. the other is about wages. the other looks five years ahead , that was some good news from the report today. in thea new record high percentage of young people who expect to be 86%. that is good news. looking ahead, there is definitely -- they think things are going to be cheaper. thisr: they are looking at and saying we are trying to hit our inflation target.

but absolutely in terms of the general vibe from consumer surveys, that is not necessarily a bad thing. scarlet: and wage growth as well. we also got the employment cost index. what did we learn there? oliver: it tries to look at how to do wages for the same wage change over time. this is the white line on the chart. this is an indicator we haven't seen a lot of. we obviously did not get it this quarter. matt: 2.4%. oliver: right. now, the measure a lot of people like to cite in terms of where rising, theis .edian hourly earnings

it is going to be interesting to see maybe this white line does pick up and start to follow that higher. wage growth is starting to slow groun down. oliver: some negative stuff there. matt: you are looking at a component of gdp, this blue line, other nondurable goods on top here. this?s it looks relative to its own big movend pretty down. >> that was a three standard deviation move down. the white line is overall

personal consumption. you can see that in the third quarter. a lot of that was because of this drop in the blue line to take that out. the blue line is nondurable goods. ?hat other nondurable goods two things dragging that lower were spending on pharmaceutical products and also spending on tobacco. we hear about these rising health care costs. realis actually why inflation spending looks to have dropped. it's not clear if we are just buying less drugs or it inflation data is so much higher than what is actually happening.

that had a big impact on the headline gdp data. matt: and actually good news in an ironic twist. if we are spending less money on tobacco, that is good news depending on pills also. >> perhaps. especially tobacco. depending on what they are. thank you so much. oliver: millions lost access to some of the world's most popular websites. we will talk about the state of cyber security next. ♪

scarlet: we need to get back to breaking news on the u.s. election. james comey saying he is looking into them is related to the investigation into hillary clinton use of a private server. this comes 11 days before election day. needs to reveal more about these newly discovered e-mails and quickly. we spoke about the fbi handling of the case. >> the fbi should do arguing in court. if they don't want to bring an indictment they don't need to release investigative materials, not announced there is a reopening. what is the point of that? this writing letters and putting out fbi interviews, and letting people speculate. >> i will never understand it. if he says i need to be accountable, i would like to

have a press conference, not make a statement. he answered questions. i sat behind him for six hours to get one question to him. he has not answered a single question about this. he is not being transparent and yet he is interfering. limbaugh is getting at the hopes of people. who is advising him? who can come down on him and say what are you doing here? you have to fix this. mark: no one seems to have intervened to him today. they are delighted with james comey. i'll think anyone is going to criticize him for this. mark and john heilemann will continue to follow this story tonight.

tune in at 5:00 new york time right here on bloomberg. millions of people lost access to the world's most popular websites last week. hackers launched a didi os ck.ack on -- ddos atta sites were unavailable for hours in some cases. , ouring down what happened gas, thank you for coming. this is complicated stuff when it comes to security. what exactly happened? >> what happened was there was a large ddos attack. noticed theyhave were not available. we have seen attacks against the same servers over and over again. the really interesting thing

about this attack is what devices made the attack happened. usually you think about computers being hacked. a network that share the same thing. laptops, desktops. what happen this time, none of those things were involved. cameras, dvri.t. is from a tiny computers that we don't think of as computers. >> is there one consumer product they were using more? >> this was not targeting any specific devise. they were doing the simple thing of looking for devices that had default passwords. >> when you have websites down like twitter and it is so many different places, who goes after the people to find out who did it?

>> absolutely. ,yber security professionals the big problem here is we are talking about letters from embedded devices. there is not a technology that can defend those devices like we typically put for example on your laptop. many embeddedw devices we have right now? name a number. 22 billion by this year. it is projected to be 50 billion by 2020. we have a globe of these vulnerable devices with nothing to defend them. this is going to be the shape of things to come. this is the lat -- this is not the last time you will see this. matt: we are talking about the

internet of things. with,has a lot to do can't some huge company figure out security solutions for these things. >> you don't need to be a huge company. to go through this system of the world. if cisco comes up with a solution, it protects cisco devices. what does that say about the other vendors? that technology isn't going to be put to protect every devi ce. matt: could you go to scarlet's house and figure out she has a baby camera, a dvr, all of these different things and figure out one solution for the household?

>> for scarlet absolutely. but that is the purpose of our technology, to put the same security features into billions of different devices we don't fully understand. scarlet: last week jeff bezos spoke about hacking at the vanity fair summit. >> one of the big issues is .oing to be privacy people don't think about it. if you have a mobile phone in your pocket it has microphones on it. those are under software control. i would posit that just about any nationstate in the world worth its salt can put a computer virus on your phone anytime they want and listen to everything you say. this retard innovation in any way?

>> it shouldn't. our job is to make sure we have the defense is necessary for these technologies to exist. we should not shy away from these technologies. we have to make sure they are safe to use. oliver: great stuff. you are the chief scientist and ceo at red balloon security. it kind of sounds scary. scarlet: coming up, when politics -- 'sasked about jon bon jovi opinions on this election. scarlet: what bon jovi song should hillary play on election night? sale.s house is not for scarlet: there you go. what about the trump campaign?

>> it's a wonderful world. it goes to show you anyone can be president. ♪

scarlet: jon bon jovi is one of the world's top rock stars. at theown with the star bloomberg charity day here in new york and asked what inspired his setting up a business offering super fan experiences. >> it became a place for people to think of it as a cruise on land. they would have their favorite entertainer and come together in this place. nest --ing a lot of his business with the nfl.

they asked me to be a partner in it called on location. we were taking it out of the hands of brokers and getting it back to fans where they were transparent. when i called the league i said you have to think out by the parking lot. i had their undivided attention. this,t: how do you do making it inclusive but acceptable? >> in truth it is not for everybody. are some that have access to letter a and some that have access to b. but we offer transparency. here is a great example, the shorting of tickets and the patriots played against the hi up hisjohnny saves of

money and things he is going to the game. but they were not available. we are telling you what your seats are, how you got them and what you paid for them. what yourling you hotel is and what parties you are going to. two years ago you are part of a group that did bid for the of low bills. are you in the market to buy a team? quench sure. yeah. -- >> sure. yeah. we did make a bid for the buffalo bills. we didn't get it. the tennessee titans are not for sale. quite simple. the team is not for sale. scarlet: why is being an owner a logical step for you? >> i love the game and the business of the game. i have something

unique to bring to it. a the music industry has had major disruption. young people don't feel they should pay for music. what will a successful business model look like in five years? >> it's going to be harder for one of them to say i sold 130 million albums. the model has changed. they are going to have to to ur. we have been doing this for 30 years. so, what i don't want to happen is people think the genie is out of the bottle, i don't have to pay for it. interdependent music, movies, books and art as we know it, fine art are inspired by each other. if we continue to just take it and give it away is going to be harder for people to create it.

theyave a living doing it. teach us what happened in the past. paintings are our history. movies and books and music. scarlet: do you think content and distribution should go together? >> i hate to create more monopolies in the world. these things are going to have to be scrutinized aren't they? that is difficult. i would love to see artists be paid and copyrights protected. to the back generations stories of the singer getting $5,000 and the company says we own you. ♪

scarlet: the fbi is reopening

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don't wait, call unitedhealthcare or go online to enroll in aarp medicarecomplete. [captioning made possible by bloomberg television] >> i'm john heilemann. >> and i'm mark halperin. with all due respect to jessica mendoza -- james comey, really? once again it's friday and once again as if on cue this presidential race has been rocked by another head-scratching plot twist. we are of course talk by the f.b.