♪ haidi: good morning. welcome to "daybreak australia." we are counting down to the major market opens. good evening from bloomberg world headquarters in new york. stories, the white house raises its offer on a coronavirus deal and nancy pelosi's hope lent agreement will come this week. the department of justice sued google for allegedly abusing

monopoly status in the most significant antitrust action against a u.s. company in decades. google says the government case is deeply flawed. netflix plunges in late trade after losing subscribers. we get the outlook and expectations, and investors are not happy. shery: we are seeing u.s. futures coming online slightly higher, by .1% after u.s. stocks rose in the regular session. it was a choppy one. we saw expectations of the next round of stimulus and house speaker nancy pelosi now trying to negotiate that deal with the white house, investors watching that very closely. we saw the s&p 500 index gain .5% with 10 of 11 sectors rising in the new york sector. nasdaq composite also gaining ground, despite we saw the justice department decision to

sue google for allegedly abusing its power. all of this leading to the dollar sinking to a one-week low, more optimism that perhaps a compromise stimulus is on the way. look at oil at the moment, because we have seen oil slightly higher on this up as a, but right now it is under pressure and headed toward $40 a barrel. this comes on the back of disappointing economic data with new home starts rising less than expected. for thee this set up asian session with sophie kamaruddin in hong kong. start to asian stocks, futures mixed and pointing narrowly higher, biologics on top, fueling australian retail sales and flash port exports that may give impetus to the korean you want moving toward 1100. checking currency markets early

in the asian session, slow seeingfor the yen, bb-8 currency trade in a new 102-106 range toward the end of 2020 on the australian dollar slightly higher, holding onto a four-day decline in seeing options. the hong kong dollar staying strong. -- offshore youabn offshore yuan trading at a 660 could be, and that level of resistance, so dollar weakness a boon for currency. haidi: house speaker nancy pelosi and treasury secretary steven mnuchin are said to be closer to a deal on stimulus. they are right now as we speak, trying to hammer out details as time runs out on her tuesday

deadline in washington. get anll want to agreement because people need it, and it is urgent. and our economy needs it. there was a bump in the road with the appropriations committee not being sure they are going to be ready, but let's hope they are. are starting to write the bill. but i am optimistic. let's go to government and congressional reporter emily wilkins and d.c.. emily, where are we, given it seems like it is closing a gap 2.2een $1.8 trillion and trillion dollars. emily: it is definitely part of that. there are other factors, responsibility for protecting workers from coronavirus, as well as customers, still bits and pieces being geared up beyond the top number. the whitee right,

house and democrats have begun to come closer and nancy pelosi thinks they can get an agreement by the end of the week. she and secretary mnuchin will be speaking tomorrow. we are not at the end of the tunnel yet, but we might have gotten a little closer within the last 24 hours. shery: we are watching closely because it is starting to feel like groundhog day at this point, isn't it? what is happening between the white house and senate republicans, because we are not going to get a package until senate republicans are on board? emily: at this point, that is the biggest obstacle to any potential deal. senate jordi leader mitch mcconnell -- senate majority leader mitch mcconnell the house not rush into a deal before the election but said also he would put the bill on the floor if there was an agreement. of course, putting a bill on the floor doesn't guarantee anything. o'connell didn't say he would support the bill or encourage members to support it.

didn't say he would support the bill or encourages members to support it. a lot of republicans are trying to show themselves as fiscal conservatives and show due diligence in their spending, so there is a big question and a huge if, if he can get an agreement, can this make it through the senate? haidi: if this doesn't happen before the election, procedurally, what happens after the election? does it get more complicated? emily: yes and no. after the election, everyone knows where they stand regarding who has power in the next election. a little guessing dynamic is out of it. so there is the ability to do something in a lame-duck session. nancy pelosi has discussed willingness to do something and not wait until january, because there is a really big need for relief right now. democrats and republicans alike are failing at from

constituents. federal reserve chair jay powell has said again and again that the economy really does need this stimulus. it is almost telling how long these negotiations between pelosi and mnuchin have gone on, the fact there is a really strong willingness from a lot of sides to get something done and get more money injected into the economy. shery: emily wilkins, our bloomberg government congressional reporter joining us from washington. still ahead, netflix sliding in extended trade after falling short of expectations. our media analyst joins us to discuss per but up next, the u.s. department of justice says google has an unfair advantage in the biggest antitrust suit in two decades. google responds and says competition is alive and well. this is bloomberg. ♪

♪ shery: google is facing one of the most significant antitrust actions against an american company decades. the u.s. justice department is suing the company, accusing it of abusing its monopoly. bloomberg technology anchor emily chang joins us from san francisco. emily, we have heard lots of talk about regulatory action against tech giants. is this significant? is incredibly significant. it is the most significant antitrust action in the united states in at least two decades, if you go back to microsoft and government action taken in the 1990's, but possibly in a century. this is potentially huge. google has a huge team of lawyers, very deep pockets, they are pushing back on this hard. but this could pave the way for deeper conversations about a restructuring of the company or even a spin off of certain businesses. i spoke with the google head of economic policy, adam cohen

today, take a listen. deeply flaweds and risks harming american consumers. would compete vigorously in the marketplace. our sector is marked by prices that are free and falling and rapid innovation. those are hallmarks of a competitive industry. paul: google points -- emily: google folks to the ability of people being able to download apps they want easily, but if that is the case, why pay billions of dollars to apple to be the default, or other carriers to distribute the search, if it is so easy to change the default and find another option? people are using google because they choose to come and not because they are forced to buy any settings or default. the number one search term on bein -- search term on bing globally is google.

what we are doing across a range of devices is no different than when you go to the supermarket and see cereal boxes that i level or coke has a promotion at the end of the aisle. these are promotional services to reach consumers and encourage them to use our product. confident are you in google that you could win this in court? adam: absolutely. you look at our sector, prices are free and falling, there is rapid innovation and lots of choice. you describe a scenario where people struggle to find alternatives. this isn't the 1990's, where you had to get in your car and go to a software store in order to find an alternative browser. today, lots of different products are preinstalled in these devices and are right there waiting for consumers to access. and if you don't like the ones that are preinstalled, you can change them easily.

andbook, snapchat, spotify others, didn't become popular because they were preinstalled on devices, they were popular because consumers found them and downloaded them and millions of people are now using them. emily: i asked adam whether there have been talks about a settlement and he said, we just got the complaints, we are reading through it. this could take years, we are not expecting another action potentially for another year and then years after that to play out. so this will be quite a long process and we will cover it every step of the way. was the biggest of these secretive, multibillion dollar deals that were honed in on by the doj. what will happen if they are determined to, as the department of justice alleges, acted as one company? emily: a lot of things need to happen between now and then, but

the very far end of this potential journey, we are looking at a possible breakup of these companies, or potentially orlving of potential deals, a dramatic modification of how google's business. the deal -- how google does business. the deal you are referencing, we are learning more about the deal. we knew apple and google always at deal to prioritize apple -- prioritize google on the safari browser, but now we know that apple was paid $8 billion by google in order to make that happen and that 50% traffic actually came from apple devices. so that is significant when it is not just one company, but two companies working in concert. hen's argument that they don't believe this has harmed consumers, that consumers have infinite choices and the doj thinks otherwise.

shery: we know the democrats have traditionally been harder on regulations when it comes to tech giants, so what happens if we get a blue wave november 3? emily: these companies and google in particular are facing scrutiny from both files, not just democrats come up republican as well. i just spoke to the public and senator marsha blackburn on "bloomberg technology," who has been pushing congress to examine the power of big tex. if biden becomes president, he hasn't detailed his thinking on antitrust yet, so we don't necessarily know. hadi will say that you have democrats in congress, the house in particular, that have raised a number of objections to the way big tech is running right now, and concerns about the power of these companies. it wouldn'thance necessarily lead to a huge change, and it wouldn't necessarily matter if it is trump biden in the oval office.

technology"mberg anchor emily chang the latest in san francisco. let's go to karina mitchell in new york. karina: a coronavirus hotspot with daily infections in europe, germany and the another lens. being forced into the u.k.'s strictest curves. new york governor andrew cuomo blames president trump for coronavirus deaths in his estate, calling him a liar and super-spreader fears california, meanwhile, is easing restrictions in san francisco. u.k. business leaders say they are unhappy and unconvinced after downing street briefing on brexit. sources say they were told leaving the eu will come with upfront costs but long-term benefits. they are being told to prepare for a split, deal or no deal, boris johnson saying changes coming to the u.k.

in hong kong, unemployment hits a 15 year high over deep session over coronavirus. cathay pacific is reported to be cutting 6000 jobs and cutting its low cost dragon brand. cathay pacific will reportedly formerly -- formally announced the cuts wednesday. it had planned on axing 8000 jobs, but reduced after government intervention. the return to flights in singapore could start with one flight a day, although that could change depending on how the virus plays out. other cities hope it starts within weeks. travelers will have to have been within the cities for 14 days before flying and will need to take virus tests. global news, 24 hours a day, on air and on quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am karina mitchell. this is bloomberg. ♪ coming up next, the scrutiny on google from

washington adds to concerns about tech valuations, but our next guest is still bullish. our guest joins us next. this is bloomberg. ♪

♪ shery: tech stocks remained the best performers this year, scrutiny from washington and climbing valuations are sending investors elsewhere. , though, thearrea ceo of larrea wealth management is still bullish. ofs the partisan regulation tech giants give you pause when it comes to stocks? any type of negative news to push these stocks down is a buying opportunity. these stocks are part of the

new, pandemic-based economy. examples being apple, microsoft and roku. they are not just looking to buy any type of stock in this area, but are dominators of the industry. so we see a positive upside any time news comes out, and we will acquire more. when it comes to investing, you have to gauge relative strength of stocks. although there could be buying opportunities, valuations are still pretty high. do you go to cyclicals that can actually recovery with an economic rebound in 2021? aquiles: we also are looking for cyclical stocks. we are buying consumer goods and cyclicals. we like starbucks a lot. we think they are well-positioned, given their exposure in china during the pandemic, where 10% of their

revenue, 10% of their earnings has come from china. they have gone through the ringer, so we believe starbucks -- they have gone through the wringer and we believe starbucks has a $112 price target. shery: we see luxury rick nash haidi: we see luxury recovering is the conflict because of the tie up? oniles: we are holding off stocks in the luxury area. some stocks at this point are not doing well and are under severe pressure because we are not seeing any revenue-based evidence. so we are holding back on the cruise industry, holding back on luxury items, simply because

they can't overcome this particular pandemic-based fear that is permeating their industry. we don't see them coming back anytime soon within the next two years. back: you are also holding on it comes to individual stocks in asia. you have atf exposure but are not adding to that exposure. is there a feeling you might pointing out that this is led by china where we are seeing a robust recovery? aquiles: sometimes emerging markets don't love us. what we see here is, there is great opportunity for growth. japan, korea, we like and china of the later on. remember, they are coming out of the pandemic as well. spread risks to

exposure in the region without going to individual. and etf's we like, we like korea, we like ew i and we like they index -- we like the index in japan, ewj. but we are not making any big bets right now. shery: why is that? areou like tech stocks and betting on growth areas, especially as technology becomes more intrinsically linked with our daily lives during the pandemic, we have seen chinese alibaba,ks, tencent, outperforming the nasdaq, surging. aquiles: it is very simple. on the sideher err of caution so we are more conservative as a money manager

in that respect. we would rather have u.s.-based companies that have full exposure to these markets, or go the etf route, but we are not committing a lot of money at this point towards that end. haidi: how agnostic are you when it comes to stimulus prospects? does it matter to you if it is done before the election, after the election, the size, the wording? or is it something markets have essentially priced in, and priced in? ? disappointment aquiles: put simply, there are very few reasons for the market to go down. we would like to see the stimulus talks not stall, get a deal done, so that takes away one factor and allows the market to go up. but we simply don't see any strategic advantage for speaker pelosi. she really doesn't have an incentive in my opinion, to strike agreement before the election. i don't see that happening at

this point. the markets were hoping to have this, and now the realization it is not going to happen is going to put more downward pressure on the markets. we couldhe stimulus, see more unemployment, possible bankruptcies and foreclosures going forward. , great to have you with us. aquiles larrea founder of larrea wealth management. forchat be estimates revenue end user growth with more users. to 670rose more than 50% $8 billion, above the average forecast of $560 million per it snapchat says it had 200 50 million daily active users and 244 millionared to projected in a bloomberg survey. two of china's top tech

companies are being banned from more tech companies in europe. alibaba is being told it must be moved -- be removed from swedish infrastructure because of china's influence over its private sector. russia has described huawei is the backbone of the chinese communist party surveillance effort. a chinese ride-hailing company a said to be in talks for hong kong ipo next year that could value the company at $15 billion next year. fundraising round is planned before any share sale. backed by alibaba and softbank. mediatech's porter bibb joins us next. this is bloomberg. ♪

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but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. shery: you are watching daybreak australia. time for morning calls of notable views ahead of the asian trading day with sophie in hong kong. let's start with the offshore yuan at a 2018 high against the dollar. what is the view there? pboc moreth the comfortable with the appreciation for the currency that saw the fixing we saw on tuesday, we are seeing more calls for getting ahead. markets are seeing one month vol at a march i and dollar weakness , also a key factor here. nowill have that outcome

matter which party controls the senate. more pressure on the fed tes or fiscal -- larger stimulus. yuan strength post november 3. haidi: what about the top stories? like they are calling the government's laugh. sophie: ahead of this lawsuit, there's been plenty of support on the antitrust risk so there was not much in the way of surprises from this lawsuit. there will not be any long-lasting impact on googles revenue. favor of alphabet. this is perhaps the end of the beginning of the company's legal woes and a successful case to break up the tech giants. that will change upmarket leadership.

jp morgan has been calling for this shift to this year's stock laggards for sometime time now. seeing rotation coming after the u.s. elections. a potential peak of tech earnings revisions, that could be the trigger. we are seeing forward estimates the nasdaq having lag the s&p since august and recently, we for been u.s. stock gains materials and industrials getting relatively stronger. haidi: sophie kamaruddin. let's stick with tax. netflix tumbling in late trade after results and outlook missed estimates, renewing doubts about the ability to maintain growth as knocked down sees. guest. us now is our what happened in these result? that the pandemic boom is waning, compounded by

the fact that we have a lack of fresh content coming through? >> both points that you just made. in huge surge in subscribers q1 and q2 told of more than 25 million and almost pushed netflix's total global subscriber base over to 100 obviously, in q3, they hit a bit of a slowdown as people basically were expecting some slowdown in terms of the think of the virus, and i it's the boredom of having seen all of the content they want to see on netflix and the pandemic shut down of film and content production, very little me content for netflix to offer. they did say in the earnings call today that they have 150

new shows they will be showing in q4 in the early part of 2021, but that remains to be seen. thatact of life is netflix's stock, investors like to see subscriber ads and they don't pay that much attention to the bottom line, and as a result, netflix is being a little cautious right now about how many new subscribers they will add in the anacortes year. if we have a second wave in the united states of the virus, you can expect them to exceed the 5 million or so new subscribers they are projecting, but if not, it's going to be a tough road because there are now 13 competing streamers in the united states and they are all making content more difficult and much more expensive for

netflix to acquire. netflix is taking back. i'm sorry go ahead. >> the value when it comes to stop at the moment because you point out there's growing competition, but at the end of the day, is -- if any entertainment content model is going to survive, is going to be netflix. hollywood delaying putting much every major release into 2021. it is still kind of the outperform or in a very bad space. >> absolutely. the film studios are the ones right now who are going to pay a steep price for not understanding and developing streaming options a little sooner. comcast, universal pictures, with heacock, it is slow off the mark, but they are gaining momentum right now, and disney

plus with yes yen and you, again, disney is 65 million just on disney plus and another 25 million who and about 15 million with espn plus. they are on netflix's heels. amazon with prime subscribers, and then there is a slew of wannabes that are filling the streamer gap, making it more difficult for netflix. what the real issue is is what are the consumer is going to do? they are going to hold onto netflix for a while and maybe one or two others, but there's going to be a significant amount these streamers are going to face and that is the unknown. who is going to survive, and how can you make a profit out of just dreaming?

class that has been my strategy as well with netflix and hulu, which streaming services to keep. i want to move the conversation along and just hone in on what you are saying when it comes to turn. -- churn. asia seems to be coming back to more daily normal life and perhaps more in europe and so forth. >> closing down in europe and latin america, too. they are suffering a lot more shelter-in-place conditions than the and the u.s., and subscriber growth, as i said, is what seems to drive netflix share prices. it does not make that much difference to an investor if they are making a profit, but if they don't have content, and subscriberhave the base staying at home, sheltering

in place, then it's going to be a very, very tough early 2021 for netflix. one radical idea that i think they might consider is, right now, amc, which is 1000 theaters, the largest movie theater chain in the country, it is a great acquisition for netflix. it would cost no more than about $350 million, and it would give them a showcase for their new content. they could run for a week or so in movie theaters across the united states and then put them on netflix, but it also ensures netflix content gets qualified for oscars and other major awards, which they have been shut out of in the past. let me turn to the regulatory issues. the big headline was that the doj would file an antitrust suit against google. investors seemed to brush it off.

why aren't investors in the markets believing this could be a true concern, or has it just been priced in already? porter: there are many issues, but the case that the doj announced today against google has some teeth in it. google is not a monopoly, but they did conspire with apple. they paid apple $8 billion andosed to go on safari apple devices. that may be is not a breach of law but it could be construed by trade. as constraint of it lends itself to monopoly. the problem washington has with all of the technology giants is that very few people in government really understand that technology of google, of facebook, of any of the social

media companies, i think what washington is going to have to legal side.ess the section 230 is not an effective guard against freedom of speech and the fcc ought to be regulating the large tech companies because they are using the airwaves, just as radio and television is, to reach the consumer, and the fcc has no authority under certain circumstances. similarly, if they are going to be construed as monopolies, why aren't say -- why does injustice -- why isn't it proving something? they are not monopolies. they are options for the consumer. you don't have to stick with google for search, for example. shery: we will definitely

continue watching this space. , thank you. coming up, fears of a new virus epicenter in the u.s. as cases rise across the south. we will have the latest on the pandemic, next. this is bloomberg. ♪

karina: i am karina mitchell with the first word headlines. we begin with our top story. hopes are rising of a stimulus

deal in washington with the white house raising its offer. nancy pelosi saying she is hopeful of agreement this week. mitch mcconnell says the chamber will debate any stimulus package if a deal can be reached. hello see told bloomberg more work is needed to overcome spending issues but progress is being made and a bill is being drafted. >> we all want to get an agreement because people need it. it is urgent. our economy needs it. one little bump in the road with the appropriations committee. not sure they will be ready, but let's hope they are. we are starting to write the bill. karina:karina: i am optimistic. its firsts welcoming foreign tourists for seven months. a ray of hope for a sector that is crucial to the national economy. 39 chinese visitors. special visas that required them to test negative twice for the virus.

bangkok reported nine new infections. all have been imported. mohammed bin solomon is facing a criminal lawsuit in the u.s. over the merger -- murder of a regime critic, jamal khashoggi. have an0 others advocacy group. he was killed by saudi agents in istanbul in 2018. prince mohammed denies any involvement but accepts responsibility as the kingdoms to factor leader. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am karina mitchell. this is bloomberg. shery. u.s., there are fears southern states are becoming covid-19 hotspots with data suggesting more people are being hospitalized than anywhere else. the rising cases are being met with public skepticism about coronavirus vaccines, which dash hopes of containing

the outbreak anytime soon. michelle cortez in minneapolis. it's not just vaccine skepticism but also this idea of herd immunity that is in the white house. are ideas that we could get through this coronavirus pandemic simply by allowing all the healthy people in the country to get the infection. most of them would recover from this uneventfully, in which case, it will be hard for the virus to continue spreading from one person to the next. the challenge with that approach is that there is no way to control the virus and insure it only goes where it is wanted to go, and also, we don't know whether the people who will get it will in fact do well. there are people who have other health conditions that might not be aware of it and there are also issues like recurring disease. we don't know how long the immunity last for so if you go down this path, you might find

you are incurring a lot of harm, which is all the cases and the deaths that would come from even wider spread disease without getting any of these benefits. see these case numbers continue to rise across certain parts of the u.s., are the targeted approaches to shutdowns working? will they continue or will more drastic measures need to return? measurese see happening in new york city, san francisco. we are hearing that they are lowering their are, allowing people to get out a little bit more for the first time. targeted of being very to zip codes and special areas and just taking action where they need to. it is really hopeful in a lot of areas, the idea that we will be able to control the virus without locking everything down. unfortunately, with the numbers we are seeing, these increasing rates and hospitalizations on the rise, chances are, seeing as

we are in october, it's going to get worse as the winter rolls on. it's likely that we will start seeing more significant, severe lockdowns in our future. ce's ♪ heard from roche ceo that iss unexpected for the vaccine to be available widely. we are getting some good news about other approaches that might be helpful. there's another drug which is used to help calm and overactive immune system -- an overactive immune system. we usually see this for people getting. people getting very aggressive treatment for cancer. they end up on a ventilator. columnsicine from roche

calms the immune system. the results are yet unclear because it only benefits those specific people who are having the immune system reaction so more research is needed on that one. haidi: michelle cortez, in minneapolis with the latest. coming up next on daybreak australia, the pandemic has been good for the online retail and deliveries business. the coo talk to us about that and the expansion plans for the future, just ahead. this is bloomberg. ♪

has an online retail and delivery platform backed by tencent and walmart. it has seen shares surge in june. it pegs the pandemic as a growth accelerator as it pushes consumers to opt for online shopping. spoke exclusively with tom mackenzie in beijing. the coviddy knows pandemic is a major -- certainly in china. ans has served as accelerator for business. as you can imagine, people tend to spend more time at home and frequent restaurants less

frequently and people want to buy groceries and cook at home. tom: you say you have seen a strong pickup in demand as a result of the pandemic. how sticky is that increased demand or does it start to ease off as people get to a normal sense of life, which is quickly being achieved in china? anlip: this epidemic is accelerator but even before this, we have been growing pretty fast for multiple years already. there are a few key reasons behind this. we are generating values for retailers and consumers. are now considered a major if not the largest growth driver for their business. tom: on the macro level, there's a lot of focus on china's consumer. the economy is improving. what is your sense of how strong the consumer is now? is it starting to rebound and will it be sustainable? philip: one of the key trends we

offer the lower tier cities is -- it has been growing fast. historically, most of the people doing business are focusing on shanghai or beijing. tier one cities, tier two cities. now, we are covering thousands of cities. the growth from the lower tier cities is far ahead of the tier one cities. muche there are enjoying lower costs and their living costs are relatively low because people want to spend more. buying power from the lower tier major pusheally a for the entire retail. let me shift- tom: focus to competition. one of your main rivals is -- how do you ensure you build a moat around the business? what makes you stand out and keep that competition at bay? philip: first off, we have a

very unique positioning. we never compete with them. we don't take any of them anyway. we are probably the only platform in china doing this. other players like alibaba, each have hugem, they businesses. they are retailers themselves. tom: what are your expansion plans, priorities? all, theirst of geographic sector. as i said, lower tier cities are really important. there are thousands of cities we really need to do well. as number one. number two is a category expansion. we start off with supermarkets because supermarkets are the largest sector of our business. they are also the most difficult.

the trade, crm, the promotion, there's a lot of things to deal with. that's why we start with the toughest. tom: what is the timeframe for making this business profitable and how much pressure are you from your investors to turn things around and bring your back into the black? philip: we have a track record in terms of improvinour possibilities and efficiencies over the last few years. as you can see from our financial reports, metrics have been improving quickly. much pressureting from investors around this at all. time, we believe we are seeing a huge trend. three stages of e-commerce, on-demand retailers, so it's time to invest. it's a time to really grow the

business. we absolutely prioritize growth. shery: chairman and ceo philip kuai, speaking with tom mackenzie. let's get a quick check of the latest business flash headlines. china mobile profit rose for the first time this year on 5g subscriber gains and faster construction of new infrastructure. net income at the world's largest operator increased around .5% for the three months through september 2 just short of $4 billion compared with small declines in first and second quarters. china mobile has opened 350 thousand 5g base stations this year. exports declined in september, dropping for an eighth consecutive month and continuing their longest client in three years. 1.75ents fell by around billion dollars as the industry becomes even more reliant on demand from china. that was the only bright spot

with exports surging by 80% while falling everywhere else in the world. personalggest maker of care products, hindustan unilever, reported a 16% gain. india may be reviving in after an unprecedented contraction. revenue came in at 1.5 billion dollars with a revival in consumer demand being helped by good monsoon rains. -- 8 million outlets in india. coming up in the next hour, thornburg investment management portfolio manager -- joins us as asian stocks low post for modest gains amid stimulus talks in the u.s. that market open in sydney is next. this is bloomberg. ♪

haidi: very good morning. i am haidi stroud-watts in sydney. we are counting down to is as major market opens. shery: i am shery ahn in new york. wall street closes higher on hopes of a stimulus deal in washington. itswhite house is raising offer and nancy pelosi says she is hopeful of agreement this week. fordoj sues google allegedly abusing its monopoly in what is seen as the