kailey: kailey leinz and guy johnson, this is "bloomberg markets."oth the house and senate are set to vote on a pandemic relief plan today. chuck schumer expressed disappointment the package is not bitter -- is not bigger. >> while this bill is far from perfect, nor is it the bill that we would pass if democrats had a majority in the senate, it is a strong shot in the arm to help american families weather the storm. kailey: joining us now is terry haynes, pangea policy founder. that seems to be the narrative, this is just a bridge to get us through until a more robust packages can be passed. that canthe odds that actually happen given this package was so politically difficult? >> good morning. you're right to point out the difficulty of the package. narrativet has this that this was going to be done by september and fully priced in. now they have got a bit of a lesson as to how actually difficult things are to pass in washington. the next step is, there is good news and bad news. good news, there will probably be another stimulus. we are talking abou

i'm guy johnson in london, with my coast in new york, kailey leinz -- my cohost in new york, kailey leinzis off.el right now is&p 500 basically flat on the day. the only sector within the index that is higher is technology. eye on the dollar here, it is stronger for a second day. the bloomberg dollar spot index right around the highs of the session, stronger against everything in the g10 space. oil falling 1.3% for wti. virus related restrictions threatening to rebound demand. we do have some economic data crossing right now. guy: let's talk about it and figure out what is going on here because it's a bit of a miss. this is the consumer confidence read coming way below expectations. 88.6. the previous number, 96.1. we came into this year in the mid one 30's, so -- the mid 130's. certainly the virus restrictions, the case count in america having an effect here. the present situation number coming in at 90.3. that is down from 105.9. things are certainly crumbling even in the present, and the expectations number is also looking a little bit weaker as well. you would have thought with the va

kailey: thank you.vel stops are getting hit especially hard with new rock debt -- with new lockdown risks. ryanair, lufthansa, and iag are among the worst performers in the european sector. joining us is mark manduca. easyjet and ryanair both cell about half of their seats between the u.s. and europe. can they withstand this kind of travel shut down? mark: there is always bound to be something. it is after all the airline sector. one harsh lesson we have all learned is in recovery was never going to be linear. i do not think we can forget shares had gone up 50% to 70%, particular the one you mentioned , in the space of the last five weeks on these vaccine announcements. there is very little room for a slip up. that has been the last 12 months, the story of slipup spirit i think for investors, we have to do one simple thing, which is to ask ourselves on the mutant viral infection we are talking about, which is affecting the u.k. and other countries, is it just a u.k. centric problem? it is not. the same

kailey: it will be an interesting day. dataso had mixed economic earlier this morning but the market seems to be looking through that and any questions as it relates to stimulus. s&p 500 up .5%. we are seeing a dollar snap a three day winning streak, and just paying attention to yields up four basis points. the 10 year at 0.95% and still blow the 1% level and we are getting more economic data crossing the wire right now. littlee claims data a earlier on better than anticipated. the personal spending number, michigan number is crossing the tape. again, missing expectations. we had an 80.7 read and the last number, 81.4. the expectation, 81.1. in terms of current conditions, they are down as well. it is the expectations number that is interesting. the forward-looking indicator coming in. it is still a relatively soft number. the inflation number is coming in in line with expectations. housinga soft number on because housing has such -- has been such an area of strength. new home sales fall into an 81 40,000 annualized rate d

kailey: very good point. we know an outline of the agreement has been reached, but not that one has been finalized. officials have told bloomberg that it has yet to be finalized, and it could be hours before any announcement is made. let's get more context on the history of this moment. adam posen, peterson institute president, joins us now. assuming we get a finalized deal in the coming hours, how significant is this agreement? adam: less significant than it first appears, and my view. obviously it is great not to have the complete backup we are seeing now for reasons other than the med tech -- dendy -- then thek pandemic coming back, and they will not be generating further uncertainty. but as some of your colleagues have already said, this is about an ongoing governance of the relationship between the eu and the u.k., just like mexico and the u.s. have to have an ongoing economic relationship, even if usmca is passed. moreover, this is still brexit. this is still not having full access to the siegel market,

kailey: as you mentioned -- around 1.1%. kailey: as you mentioned, the eu is calling on number countries major trade links with the u.k. while limiting non-essential travel. it comes after backups at the uk's busiest port. >> this very much a global spike at the moment, and that is exacerbating some of the pressures in the u.k. >> the congestion is severe in quite a few places. if you look at what we see in places like singapore over the last couple of months, it is very. unusual. . -- it is very unusual. >> we are talking about vehicles just waiting, and there's no light at the end of this tunnel. >> the pre-brexit stockpiling is contributing to a lack of storage space and other things all coupling up for a perfect storm. >> we come out of a disaster just to hit another one. kailey: joining us with more of the latest from brussels is bloomberg's maria tadeo. francese is the u.k. to in solving this issue, or are they not at all? maria: there are talks happening right now, and the french have said they do want to open at one

kailey: was this a binary outcome? do the contents not really matter so long as there is an agreement in place? from a macro point of view, yes, it was certainly important for many industries and from a macro point of view, this is a pretty basic free-trade agreement in goods. it really just avoids the imposition of tariffs. you have still got nontariff areas with the barriers to trade going up. some of them might be offset if the deal was struck on good terms and we can get trusted trade status, but in general if nontariff barriers to trade are going up, 80% to 90% of the economic costs of leaving the european union was always likely to be attributed to those nontariff barriers. the redtape of customs and that laborious stuff with the fog of uncertainty remaining over the u.k. trade services. there are still negotiations to be completed next year, cross-border financial and the transfer of data and the andability of accreditation things like the law or accountancy, which is important to the u.k. economy, or of outsize

romaine: kailey leinz, giving us that update. stick around, we are counting down until the release of "evermore."just kidding . the founder and ceo breaks it all down. this is bloomberg. ♪ romaine: today we are, of course, focusing on these ipo debuts. it has been quite a week. you talk about doordash, airbnb, these names are coming to the public market, to a certain extent, in defiance of the current economic backdrop. joe: absolutely. the numbers are absolutely eye watering, both the headline market caps -- we are looking at -- i guess you could call these value stocks, doordash, a 59 billion dollar market cap after an 85% pop. billion, and i think it's negative something. who could have predicted all this cheap money would have driven up ipo prices? here -- lead drove n is here.drove were you surprised by airbnb and doordash? lee: i wasn't. i have some norming, nonfinancial friends who over the past couple of weeks had given me a call and said, i'm going to buy this airbnb ipo. i said, at what price would you buy it? they said

my cohost is kailey leinz. welcome to bloomberg markets. it is the shortest day of the year. here in the u.k., that feels like a good thing. >> certainly for the equity market. steep lossesg at across major averages in the ballpark of 1%. small caps cyclically are down. s&p 500 and nasdaq 500 down. we want to get more insight in what is going on and the fears researching, just like the virus. let's get to abigail doolittle. >> we certainly have a risk off tone. s&p 500 down 1.3%. heading for its worst day in two

kailey leinz has been looking at the call.ley: they cut the start to market perform, basically a neutral rating. the idea it has already run too far. hasbro shares have more than doubled off their lows since march. yesterday they close at their highest february. the relative strength index crossed about the 70 threshold to indicate the shares are in overbought territory. they are saying shares are fairly valued in the run has gone far enough. we have seen optimism around the holiday shopping season. a lot of parents potentially going out to buy toys for children. that's expected to drive strong fourth quarter growth for hasbro at about 18%, the highest going back to 1999. they don't think that will be a meaningful catalyst to drive further upside. there are a handful of analyst to share the view. four others pulled ratings. 12 have buy ratings. maybe not that much more room to run. the average price target for 12 months is $97. shares are trading around $94 today. vonnie: thank you very much for that. i love watching those pro

kailey leinz has more. third best performer in the s&p 500 today, the best performer on the index on the year with a 270% rally, up 450% since it went public in 2017. nse bulk of the games -- gai came in 2020. btig analysts raising the price target on the stock to $174 a share from $106. run ahead ofady the average price target. it is trading around 106 e4 dollars a share today. the rally has come because they are a big beneficiary of the stay-at-home world with more people shopping online. and 128% in 130% the second and third quarters respectively. nearly 90% growth in this holiday quarter. that is what btig is seeing here with his price target raise. the say not only in short-term but longer-term as is integratingsy itself in shoppers habits. also, they don't face a lot of competition and will retain market share and pricing power. not only is it a stay-at-home winner but a winner in the longer-term as well. vonnie: thank you, kailey leinz. coming up, what christmas tree sales can tell us about the state

kailey leinz has the story. at $182 ah ipo'd share, a 70% jump. remarkable first day.rdash the largest food delivery app in the u.s. about 18 million customers. i want to focus on the valuation. was onlymonths ago, it worth $16 billion. last night, closer to $40 billion. with today's surge, it is $60 billion. $70 fully diluted value, billion. take a listen to what the ceo told emily chang. >> it is a testament to the hard work of all the people inside the walls at doordash as well as the partnership with our ecosystem, are merchants, dashers in our platform, everyone outside our four walls, as well as a reflection of the confidence investors have about our future. >> clearly investors confident about that today. the question is how long will that last given the remarkable valuation. vonnie: for sure. we will be keeping an eye on that. thank you. more on doordash. we will talk about the bank of witha holding rates steady the head of fixed income at b mo. and boris and ursula having dinner right now. ♪ >> i am mark crumpton with bloomberg word news. another blow to presi

kailey: in hong kong -- ritika: in hong kong joshua wong was sense to more than a year of jail for leadingtest outside police headquarters. it was one of the most high-profile cases in the government's crackdown on the blow democracy -- on the pro-democracy movement. others received shorter sentences. a coronavirus vaccine will be available in a western country. regulators in the u.k. have approved the shot made by pfizer and beyond tech. -- and biontech. doses of the vaccine are ready from belgium. in the u.s., an fda panel will meet next week to discuss the vaccine. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. am ritika gupta. this is bloomberg. alix: thank you so much. up orard guy round european markets are closing. let's get a quick check of where u.s. markets are. you have the reflation remix continuing. you do not have the rally we saw in equities. the weaker dollar story continuing to permeate, the dollar did get a bid earlier. they were able to move on that and now you have the euro-doll

kailey: i think the primary driver is the lack of any tangible process on the fiscal aid front.worsening virus headlines don't help. they may also be a bit of taking risk off the table. around .7%.is down almost every sector is in the red. are inovery plays that the most pain. energy and financials on the bottom of the pile. the small-cap, cyclical play, are getting hit as well. the banks, that bradley has to do with the risk off

kailey: i think the primary driver is the lack of any tangible process on the fiscal aid front. certainly, the worsening virus headlines don't help. they may also be a bit of taking risk off the table. around .7%.is down almost every sector is in the red. are inovery plays that the most pain. energy and financials on the bottom of the pile. the small-cap, cyclical play, are getting hit as well. the banks, that bradley has to do with the risk off tone, but also what is going on in yield. there is the bid for safety in the bond market taking shape not just today, but over the course of the week. the 10 year yield is down nine basis points yielding below 0 .88%. it is not just here where we have deadlock in politics, but also the u.k. and eu not getting it together when it comes to brexit. loweras taken gilt yields than 18 basis points the past five days. beid: the markets seem to reacting to a lack of apparent progress on the fourth round of fiscal stimulus. we are getting conflicting signals. the word is on capitol hill, we go to laura davidson. where are we? laura: we are still

. >> kailey, thank you. to $2,000. will the increase actually get approved and how soon will americans see this money? rachel scott has the latest from washington. good morning again. >> reporter: good morning, most republicans just aren't with the president on this one. so it will face an uphill battle in the senate if they do decide to take up this measure. president trump after signing that bill, still demanding lawmakers increase the amounts of stimulus checks from $600 to $2,000. this is an area where the presidents and democrats agree. in the house last night, you saw them get through this measure that would boost those payments to $2,000. but the vast majority of republicans are still against this. this was a major stick point on capitol hill. republicans want to keep the overall spending on this bill down. so it is likely that these checks will just stay at $600 and americans who earn $75,000 or less can expect to receive one. now the question is, when will they go out? well, the trump administration