i'm abigail doolittle.al edition, highlights from the global business forum. many heads of state and government leaders participated in the conference and spoke with bloomberg about the challenges they were tackling. let's begin with editor-in-chief john micklethwait's conversation with pedro sanchez. ♪ >> we are following very closely what is happening in brexit. we also have tensions and problems in catalonia. i always explain the independent movement in catalonia, that the referendum is not a solution. it divides societies. it creates a huge fracture in societies, and it doesn't give a positive and constructive way out. i think it's much better to open a dialogue in order to restore and reveal a coexistence. >> you saw president rouhani yesterday. do think the iranians were responsible for the drone attack on saudi arabia? >> apparently, the information we get from different countries, our partners, isn't the way you are pointing out. but the opportunity that i had yesterday with president rouhani was to

i'm abigail doolittle.sented at the program. chief executive had much to say about the increased focus on sustainability. ♪ >> it is 100% clear to us that the cost of inaction is far higher than the cost of action. and the business case for sustainability is simple. our brands that are run on a sustainable business grew faster. customers want to partner with companies. and it's a magnet for talent. >> there's a lot of concern for plastics around the world. how are you addressing that? e> plastic is the material d jour. plastics are a wonderful material. the issue is too much of it and's up in the environment, so for us, keep plastic in the economy and help the environment. the way we are tackling it is less plastic, better plastic using more recycled material, in the united states 50% of the plastic we use will come from recycled sources, and the no plastic. we are looking at plastic alternative materials. the big danger is that businesses that move into plastic alternatives have a much worse carbon footpri

wanted to the abigail doolittle. the markets are moving.gail: you are right about that, and before we talk about the selloff, breaking news -- we work ceo stepping down after pressure from the board. we have a somewhat frothy ipo market, and the fact that you have the ceo stepping down that is a little bit of pressure. other pressure started more so. david: he will remain chairman of the parent company. this is a report according to dow jones, breaking right now. there were talking about him having a nonexecutive role, so he would stay with the company. abigail: ok. as far as the selloff, it started more so in the 11:00 hour. president trump speaking at the u.n. between 10:00 and 11:00 and criticizing china around trade, of course. micron was brought up. we saw at that time a reversal. futures had been up half a percent, now the worst day in more than a month. this isn't really new. each day seems to be any playing ground. investors and traders when they are positive about trade and the next day they are negative. volatility makes sense bec

here is abigail doolittle. abigial: take a look at the shares of clout flair, they opened just minutes ago. doing quite well. up 26%. the initial range was $10 to $12. the pricing was at $15. a 20% gain. you can make the case that the stock is trading 90% above the low end of its initial range. this is a cybersecurity firm, at $4.4 billion. they raised $525 million. we'll be talking about this more in the stock of the hour. let's talk about the major averages. modest gains slipping between small gains and losses. this is the 10 year yield and eight-day chart of the 10 year yield. the biggest backup in rates going back to the presidential election of 2016. in president wanting bonds august, not wanting bonds this month. as we take a look at the s&p 500 on the week, we are going to see again for the s&p 500, up 1.2%, the third up week in a row. this the longest weekly winning streak for stocks back to the end of june. with rates rising, the financials are the best sector on the week, up 4.1%. rising rates are hel

let's bring in abigail doolittle. abigail: many ipos, lots of private companies.ot just in the u.s., it is really on a global basis. in hong kong, a company relaunching the ipo of its asian unit. it is not confirmed exactly when. the amount of money they are raising, half of what they were planning on raising before. biotech set kong, to go off on wednesday. bottom of the range will really be a test of the sentiment. turning to europe, take a look at team viewer, a software company. they are expected on wednesday, expected to raise between 1.4 and 2.3 billion euros. it will be one of the biggest ipos in europe this year. in the u.s., balaton looking to n expected toto raise $1.2 billion but wall street is a little bit skeptical. ,he ipo that is not, wework ceo,week, around the delayed to october at the earliest. it has been a difficult environment for different ipos in the past 12 months. if we look at this terminal 500., and white is the s&p in blue, uber. the only ipo to be up over this time period. direct on theile bottom taking those undesirable honors, down a

for more, we are joined by abigail doolittle. abigail: what goes up must come down.a direct listing back in june, and shares did skyrocket higher, even though one reason for the direct listing was to prevent that. they put up a great third quarter, but the -- second quarter, i should say, but the growth in the second half not quite as strong. if we put this in the context of what they have recently been putting up, just two years ago or so, 89% sales growth. that went to 78% in the fourth quarter of that same year. this last report, 58% growth. that is true medicine growth, but into the next two quarters, 47%, 41%. people wondering if the growth is falling nothing cliff, but again, pretty -- is falling off a cliff, but again, but he strong. guy: why the big draw in the growth story? what is going on? abigail: it's not entirely clear what is behind this. some analysts are making the point that this is a public company, so the street doesn't know slack, and slack management is learning to be a public company. until it is known, maybe this guidance is conservative. if t

vonnie: let's get a check on markets with abigail doolittle. abigail: take a look at major averages in the u.s., well off the highs, perhaps on those china comments from president trump. the s&p 500 and the dow up ever so slightly. earlier, the s&p 500 up more than 0.5%. in the u.k., the ftse 100 down 0.5% on the u.k. supreme court overturning the suspension of parliament, a real blow to boris johnson. brent crude down 1.7%. investors not liking saudi arabia putting out the thought that their supply will truly be back online. another place we are seeing movement off of that supreme court decision, the british pound the dollar gaining 0.4%. it is really the month of september that stands out, up more than 2.5%, on pace for its best monthly performance since january. said we couldly see the pound going higher. that is certainly true in the month of september. we have apple trading higher on that overweight that vonnie was talking about with jeffries, bullish about the prospects on 5g. walmart hitting another all-time high, up 1.2%. wynn resorts up

now we will check on the markets with abigail doolittle. abigail: thanks, david. we have the bulls out. outcome s&p 500, and the nasdaq, dow leading the way. oil is down to present as traders continue to fret that saudi supply will come back to normal sooner than expected. plus, the u.s. inventories report showed a greater surplus than expected. as for the volatility, not just today, but yesterday, we have had quite a few with saws here. take a look at the steep decline. that came as president trump was at the u.n. making comments around china. we had a lower finish yesterday. overnight up-and-down, and then earlier when the transcript of president trump's call with the ukrainian president came out, down about half a percent. right now on the date, up about .4% on the s&p 500. the uncertainty we have been talking about for quite some time continues. because it is to the upside today, we have bonds not surprisingly for the first time in about 8 days sharply trading lower. 10-year yield six basis points. with the yield backing up of it can we see a nice list for the

abigail: it has been eight -- here's abigail doolittle. abigail: it's been a choppy week, but we have moderately solid gains around the week. the s&p 500 and the nasdaq higher. tech leading the way. the german dax sharply higher. take a look at the emerging market index, up abou 0.9%, so it is a risk on day. all said, look at this. over the last three days, the of -- three days, these are the futures. flat, up about 0.2%. we finally have bonds no longer selling off. we had a five day backup for bonds. the biggest for the 10 year yield going back to november 2016. right now, you can see that the german ten-year and 30 year are both lower, telling you haven bonds in germany are rallying. that is true, too, in the u.s. a bit of a relief for investors. it is not something that you always see. those yields shooting higher were concerning investors for a while. that was pressuring the momentum space, but not as much today. the momentum etf is slightly red right now. earlier, it had been up a little bit. tech helping out. now it is one of the top

abigail doolittle is with us, halfway into the last trading day of the quarter. abigail: the dow, s&p, nasdaq all near session highs. the dow and the s&p 500 set for quarterly gains. of nasdaq on the cusp whether it may put in its first quarterly loss of the year. gains continue, maybe it will join the dow and s&p 500 higher. not as risk on, the euro, trading at its lowest level against the dollar since 2017. investors seeking the haven status of the dollar. the european economy is weaker than the u.s. economy, but nonetheless, probably a little bit risk off. where we are looking at an interesting rebound, apple, a one-year chart. what we have now is the stock trading at its highest level in almost a year. today being supported by jpmorgan, which brought up its volumes forecast for the iphone, also raising their price target to $265. they say the sentiment has improved materially. where we also have some moves for boeing over the last few days, not to the upside. 2.2%, despiteown some setbacks. the company has come in revamping their safety plan. they put together

i'm abigail doolittle looking back at the bloomberg global forum.s . conference brought together chief executives from some of the biggest banks, asset managers, and most prominent investment groups. a panel put an illustrious trio on the same stage. they spoke with jason kelly and carol massar about navigating global instability. you have $13 trillion of negative interest rates, i don't even know what a negative interest rate is. why would i take my money and give it to somebody, and for holding it, i have to pay them like it is a storage unit? i'm supposed to get interest when i give people money. down, most rates go of those places that have those negative interest rates, it is not stimulative. because banks have trouble earning money in that kind of .nvironment if they don't do well, they don't grow their capitals. and can't extend credit, countries don't grow unless there is credit extension. this whole movement, particularly negative interest is some type of wake-up call. how did we get in that position? position? in that not us as americans, but

here's abigail doolittle. abigail: at this point, looking at mixed signals around the world. take a look at the s&p 500, up 0.4 percent, moderately risk on. the shanghai composite down 0.9%. that could have something to do with those headlines friday that the u.s. was considering limiting the flows of u.s. investment into china, something the white house has backed off of a little bit, but not completely. this before the seven day holiday for the people's republic of china, their 70th anniversary. a little bit of a downturn there. brent crude down 1.4%, down for a fifth day. gold, the haven assets, also down 1.2%, so you can make the case risk on. really neutral risk appetite on this monday, the last quarter of the day. we had those headlines not so long ago about the wework ipo, that the co-ceos delayed the ipo. this is the renaissance ipo etf. last tuesday, then ceo adam neumann had withdrawn as ceo. and noww the big drop, lower, down 5.7% over all of this news around wework. we will be following this very closely. the quarter is coming to a close. big moves here as well. t

david: thanks a much to abigail doolittle. coming up is the economy issue the democrats want to fight president trump on? we talk to james burling, a top economic advisor to president clinton and president obama. that is coming up next and this is bloomberg. ♪ david: this is balance of power on bloomberg television. i am david westin. we turned to mark crumpton for bloomberg first word news. mark: saudi arabia says the weekend attacks on the oil infrastructure were "unquestionably sponsored by iran." iran has denied responsibility. the country president says it was carried out by you many rebels. president trump -- by yemeni rebels. president trump is also blaming iran and says he will impose more sanctions on the country. robert o'brien will replace john bolton who was fired last week. robert o'brien heads effort to secure the release of american hostages held by north korea, iran, and others. the trump administration has scrapped california's authority to set tougher auto emission standards than the federal government. presi

he is abigail doolittle. -- here's abigail doolittle. abigail: the dax in germany up about 0.2%. in the asian session, the nikkei down ever so slightly. the mover to the downside, that dow transports, down 1.8%. as investors wait for the fed these repo operations, we have the transports plunging on fedex. let's take a look at a two day chart of fedex, on pace for its worst day since 2008, down 14.4%. they missed estimates, slashed the outlook, blamed the trade war and global growth. it is interesting that that is not sending broader markets down, considering that is pretty bearish about the plumbing of the transportation system. let's take a look at oil. we are going to see that oil is down, but off of those lows during that saudi press conference. brent crude down about 0.6%. wti down 1%, down for a second day in a row, but on the week, as supply has been disrupted, we do have oil trading higher. on the day, we also have bonds trading higher. when you put stocks fluctuating right around even with oil down, another risk asset, and haven bonds higher into the fed, a bit of a risk

he is abigail doolittle -- here's abigail doolittle.gail: we have a bit of a risk off tone on this friday. modest risk on tone in the u.s.. of uncertainty in london. the ftse 100 up fractionally. the shanghai composite in the asian session besting all of the indexes on the day, up about 0.5%. what a week it's been. let's take a look at a four-day chart of the s&p 500, a holiday shortened week. we had trade tensions weighing on tuesday, along with disappointing many factoring numbers, so that day down. since then, we've been up and , forgetting about trade tensions and that weak manufacturing number. today we are sort of flattening out a little bit, but overall on the week, we do have -- actually, this is not the s&p 500. this is the german 30 year yield. here's the s&p 500. we had the down day tuesday, wednesday flat, and then we see the gains yesterday and friday. so overall, the bulls are taking it, even though we start with the bears. if we could take a look at that 30 year bond chart, there's a bigger story on the week in that bonds

thanks a much to abigail doolittle. the fed says it is data dependent, but which data is it depending on. we talk with tiffany wilding of pimco. that is next and this is bloomberg. ♪ david: this is "balance of power westin. am david mark: hurricane dorian is menacing the u.s. east coast. the storm is lashing florida after ripping through the beatingin a two day that cause damage that may cost the island billions. dorian has weakened but is still packing winds of 105 miles per hour. forecasters say it could make landfall as a category 1 storm thursday. the european union is warning businesses and people likely to be hit by brexit to prepare for the possibility that britain might leave the block without an agreement next week. as. officials have released checklist for companies to use. they will minimize disruption to trade. the commission also wants to make funds available for those hardest hit by a no deal brexit. hong kong's chief executive has made an about-face that may help ease tensions after months of protest. car

here is abigail doolittle. abigial: we will have to include oil, but first let's get a look at stocks. we are looking a risk on session , the first solidly green day of the week. overall, the s&p 500 up just slightly. today you see it is today's action helping that out. the dow and the s&p up .4%. cap, one of the top sectors, the tech heavy nasdaq leading the day,e, up .9% on the helping stocks climb higher. we are not seeing bond yields backup or move higher. today you can see the 10 year yield down eight basis points. that tells us haven bonds are rallying. it would seem inconsistent with stocks also rallying but investors have been a bit worried by the big backup, the most since november 2016. a risk on today. not risk on, the plunge we have seen in oil. let's take a look at an intraday chart. earlier oil have been higher, helping out the energy sector, but on those headlines, the bloomberg stoop that president trump had discussed the possibility of lifting iranian sanctions, we see oil plunging to percent.

let's check the markets with abigail doolittle. abigail: the shock continues for global stocks.ake a look here in the u.s. the month of august, everyone talking about the big range for the s&p 500. it continues today. we had trade fears yesterday. today, less fears around trade and also factory data. in the asian session, shanghai composite up .0 percent. this is confirmed. we take a look at the sectors for what is happening in the u.s. by going into the imap. nine of the 11 sectors are higher. the two sectors are lower are more defensive was of health care and utilities. in a strange way, that is risk on. consumer staples, another defense sector. investors rushing back into the risk assets relative to stocks and also other assets altogether. take a look at oil and copper. yesterday we had a big selloff at one point for oil. today, reversing that, up 4%. nothing is really changed much except investor sentiment. they are selling haven yen and bonds a little bit. the pullback we are seeing for bonds does not seem to quite match the rally for stocks. the chopped may continue as sep

now let's get a check on the markets with abigail doolittle. abigail: small moves in the averages in the u.s.. we are looking at small gains, this after stocks traded lower on friday, trade talks disappointing, manufacturing and other economic data in europe mixed in. the bulls are trying to keep their head up. look at haven bonds come a year yield down for basis points, the sixth down day for yields in a row. telling you that there's a bit unease. speaking of unease, you were talking about the thomas cook collapse, it is really having an impact on the travel space. take a look at the airlines, united and carnival, some travelers out there stranded by the collapse. some travel companies underperforming the major market indices. where we have performance. on the day, consumer staples. let's look at the consumer staples in the bloomberg. the s&p 500. , consumer staples space in white up 3.8% especially in august, one of the more defensive sectors. some of the dividends and reliable cash flow. this is a bit of a switch, because this sector last yea

with us we have abigail doolittle. abigail: you are right about that, a lot of ipos this week.ompanies coming to market not just in the u.s. but globally. , they are ab inbev relaunching their ipo of their asian unit, expected to price this week and although not confirmed when, to raise $8.4 billion. this would be the second biggest ipo of 2019, but half of what they were targeting earlier. henlius, thekong, first listing in hong kong since july. in europe, team viewer, a german software company, expected to be one of the biggest ipos in europe this year. turning to the peloton in the u.s., the home fitness company, pricing on wednesday. they are looking to raise as much as $1.2 billion. wall street is a little more skeptical. talking about wework, the ipo that was supposed to happen. reports are saying the earliest it could happen is october, last week, after being delayed on valuation and governance issues. and iposof governance in the last week, take a look at this chart. in white, the s&p 500. the rest of we have these high profile ipos. it has been a very difficult time fo

here's abigail doolittle. abigail: certainly an interesting trading day on this tuesday. a mixed picture. here in the u.s., the s&p 500 and the nasdaq lower. in germany, the dax is higher. in the asian session, the nikkei finished higher. this is true between risk assets in haven assets. haven bonds are selling off once again, so investors a little bit confused. we take a look at a five-day day chart of the 10 year yield. this is the biggest backup since the 2016 election. both stocks and bonds selling off on the day. take a look at the commodity complex, up 0.5% on the day. that is a riskier, growthier commodity. oil trading higher. that haven yen down against the dollar. we have the vix up slightly. a mixed picture, but slightly shades of risk leading the way. when we go into the imap using the s&p 500 on the bloomberg terminal, this is a really interesting picture. at first glance, it looks risk off. on top, energy trading higher, and sympathy with oil. hier picture.wt on bottom, tech is the worst, but real estate down 1.8%. it is going to be interesting to see how all

here's abigail doolittle. abigail: stocks in the u.s., take a look. just slightly lower after the european pmi's came in disappointing when european shares but in the u.s., pmi market numbers came in basically in-line. not a lot of reaction. as for the s&p 500, and interesting technical look we have in the bloomberg terminal. we can take a look at that and see where the s&p 500 is relative to its all-time highs. this chart goes back a year. you can see the s&p 500 is really stalling out your two different sets of all-time highs -- well, only one can be an all-time high. at the point i want to make, the momentum indicator starting to ram down. all of this could suggest perhaps the s&p 500 may cool off in the days or weeks ahead. cooling-off today, take a look at some of the bank stocks. amazon is lower. this is morgan stanley has lowered its price target setting margin pressures. we have facebook and netflix lower. facebook and part of the antitrust probe. finally, take a look at the 10 year yield. we have yields coming in once again. the 10 year yield

romaine: let's check in on the global markets right now with abigail doolittle. abigail: at this point, we are looking at a bit of a risk on tone after the volatility after the fed decision yesterday, when stocks went sharply lower and finished about even. right now, solid gains in the u.s.. the s&p 500 up 0.4% come on the nasdaq up 0.7%. we will take a look at why in just a few minutes. this is as the fed is injecting short-term liquidity into the system. the dax in germany up 0.5%. 1.7%, upcrude up nicely on the week after that attack in saudi arabia. where we are seeing gains as well, bonds. let's take a look at the four-day chart of the 10 year yield, down 11 basis points. of course, bonds are rallying after the fed did cut as expected. language a little bit hawkish purse on, but investors -- but investorsme, have the 10 year yield at 1.76%. for the s&p 500, this is the imap in the bloomberg. even though oil is higher, energy down about 0.2%. not a big loss. with yields lower, we also see that real estate, utilities, and consumer staples were trading slightly

vonnie: let's get a check now on global markets with abigail doolittle. ail: the risk rally continues for stocks. take a look at the s&p 500, up 1.4%. outperforming in a big way, the philadelphia chiphe index. big outperformance there. in europe, the stoxx 600 solidly higher. emerging markets up 1.3%. that is further out on the risk continue them, so investors are going into risk. if we take a look at what this looks like for the s&p 500 over the past two days, these are the futures. updateay we had a solid as investors decided to forget about the weak ism manufacturing number that came out. updatetoday on trade optimism,e a leap higher, and the ism services number coming out at 10:00 a.m. eastern today was better-than-expected, so investors want back in on stocks. they are selling haven assets to the greatest degree since november 2016, after the presidential election. take a look at a two day chart of the 10 year yield. earlier today on those trade talk headlines, we see a move higher back up around the ism figure. investors encouraged by the idea that p

here's abigail doolittle. l: we are looking at very small moves, investors sputtering toward the today for stocks. a big week with the fed and all of these repo operations, and the new york fed announcing they will be doing that daily until october 10. to the 500 and the doubt upside, the nasdaq trading a little bit lower. the s&p 500 is trying to put in an all-time high. the utility sector is putting another all-time high. that is a defensive sector could be a bearish divergence to keep an eye on. one utility that is not doing very well, not just to take, but on the year -- not just today, but on the year, let's take a look at pg&e. we are seeing a massive decline, down 52%. today the shares are down about 7%. bondholders are planning a reorganization plan that may wipe out stockholders. time will tell whether or not that happens, but right now a little bearish. , as for other stocks moving to the downside -- as for other stocks moving to the downside, let's look at roku, netflix, and xilinx. roku down for the

over to abigail doolittle. abigail: we are looking at solid moves in the u.s. for stocks.ate moves in europe, but in asia we started off interestingly lower. shenzhen 100 down 1% ahead of the holiday for chinese stocks, celebrated the anniversary of the people's republic. we are looking at modest gains as investors continue to deal with all sorts of uncertainty factors into the possibility of a volatile fourth quarter. big cap is really helping out, at least in the u.s.. apple up 1.3%. jp morgan boosting their iphone volume forecast, also saying sentiment has drastically improved. they've raised their price target to $265. up 2.2% after promising results from a cancer drug study. 0.8%, saying their entertainment unit is looking more solid. let's take a look at a five-day chart of oil. oil down 5.3%, the most on a five-day basis going back to november of last year. the big boost up we saw for brent crude, the most ever, basically gone after that unfortunate drone attack in saudi arabia. also down on the quarter. speaking of the quarter, it is shaping up to be a pretty inter

we have that with abigail doolittle. abigail: we are looking at very small moves on this friday.have the s&p 500 and the nasdaq trading higher, earlier flipping to small losses. the three major averages higher this week, up three weeks in a row, the best weekly winning streak going back to june. the dax also higher, up 0.6%. the nikkei. up 1% a risk on tone from a global -- the nikkei up 1%. a risk on tone from a global perspective. let's take a look at an eight day chart on the 10 year yield. 41 basis points over this time since 2016.biggest vestors moving back out of bonds after piling into them in august. this is having an influence on the sector composition for the s&p 500. when we use the imap in the bloomberg, we will see mainly risk on. lower.ctors higher than financials had been the best sector, rising with yields. yields expected to help the lending activity for those banks come about right now, materials higher, copper and some of the other commodities trading higher. that is a bit risk on. also supporting the idea there is a risk appetite. those dividends not looking v

abigail: mainly a risk -- here's abigail doolittle. abigail: mainly a risk off picture here in the u.s. the russell 2000, however, the small-cap index down more sharply. the other index is down closer to what the s&p 500 is. a little bit of a risk off tone. investors treading water here in germany. in europe, the dax down 0.1%. take a look at the emerging market index, down right now about 0.9%. on the lows, down more than 1%. that's because the emerging markets are further out on the risk continuum. the shanghai composite was down sharply. that tells you investors are moving away from risk, even though declines in the u.s. are relatively small. overnight, we had an explosion in the overnight repo rate market. this is when banks lend their securities, treasuries and other securities, and exchange for money. when they pay back the next day, this is the rate they were paying for that overnight swap, essentially. an issue perhaps with liquidity, prompting the new york fed to do a repo today. $53.2 billion of treasuries and securities in ag

vonnie: that is abigail doolittle. we were the function gtv on the bloomberg allows you to look at all of the recent charge -- charts featured on bloomberg tv. this is bloomberg. ♪ vonnie: live from new york i'm , vonnie quinn. guy: live from london, i'm guy johnson. courtney: auto workers on strike against general motors, the first in 12 years. it could cost companies $59 a day. gm offer $7 billion of investment and 5400 additional jobs for the union said in several areas offer falls short. north korea's kim jong-un nicking another attempt to restart stalled -- making another attempt to restart stalled talks with the u.s.. kim advised it president trump visit pyongyang last month. there has been no public response from the white house yet aired the economy in china slowed again that puts pressure on authorities to do more to support growth. the lowest pace since 2002. citigroup lowered its growth forecast for china for this and next year. more charges in u.s. government investigation into rigging the precious met

now for a look at markets, here's abigail doolittle. abigail: some of this has to do with headlines that you all were just discussing that president trump's advisers may be considering an interim china deal to delay tariffs, taking stocks towards session highs. the bullish attitude really started in the asian session. the shanghai composite up about 0.75%. 0.4 percent.x up investors going into stocks for the fourth day in a row. let's take a look at we'll. the commodity -- at oil. the commodity complex showing it a little further. oil falling at one point 2% to 3% on the news that president trump was considering somehow delaying or lifting iranian sanctions on oil. we see here on those china headlines a little bit of a lift off the bottom. it had been down 2%, now about 1%, but over the last two days, pretty bearish, down 4%. this is influencing thethis is , the sector composition for the s&p 500. as for some of the top movers, amazon in that consumer discretionary space, along with starbucks. we have a few other names higher. overall, a

. >> thank you so much to abigail doolittle. blackstone is said to be in talks to buy two casinos. shares of the current owner of mgm resorts are on the news. live from new york, this is bloomberg. >> this is balance of power, i am david westin. we turn to mark crumpton for bloomberg first word news. >> president trump has promised allies help in the wake of that attack on a major saudi oil facility. the u.s. is no longer directly reliant on middle eastern oil. oil posted its biggest ever intraday jump today. although it has since fallen back. a saudi military official says weapons used in the attack -- the british prime minister boris johnson and the european commissioner jean-claude juncker agreed to wrap up talks securing a brexit deal. by the two sides they've assessed -- gave different assessments about how far apart they are. minister johnson said there is a good chance of a deal. leaders are far more skeptical, saying the u.k. must produce concrete proposals. a special united nations fact-finding mission wants myanmar to be held responsible for alleged genocide against its m

now we want to check on the markets with abigail doolittle. abigail: very small moves on this friday. investors tired after a big week. the dow and s&p up slightly. the nasdaq slipping slightly lower. providing thecing short-term borrowing market with liquidity it needs. not much happening. where something is happening is utilities, up .2%. an all-time high, that was true yesterday, too. some would say that is a bearish 500.sion to the s&p we are looking at the degree percentage away from an all-time high. the s&p 500 within spitting distance. you have to think it will likely happen any day soon. energy down 22% from the all-time high, still in a bear market from the all-time high. that is a bearish diver gence. says it could be a bearish signal. saying that more broadly. that is something to keep an eye on. both sectors close to all-time highs. let's look at the movers. we are looking at positive movers in the health care apparently, there is a rotation into the health care space. we have been talking about rotation into value out of momentum.

romaine: thanks, abigail doolittle.up, hong kong chief executive carrie lam withdraws the bill that sparked the unrest, but is it enough to satisfy protesters? that is coming up next. this is bloomberg. ♪ caroline: another several months of unrest. hong kong's chief executive carrie lam has acceded to the demands of protesters. >> the government will formally withdraw the bill to fully allay public concerns. caroline: with the bill that sparked the unrest allowing extradition's to china formally gone, how are protesters responding? shery ahn, perhaps not all of their demands. >> only one of many, in fact. they are not responding very well. many critics say this is too little, too late. we have heard from a prominent activist who was very well known during the 2014 protest. take a listen to what he says. >> the protests will continue. hong kong people will never stop until hong kong is a place with democracy and freedom. >> we have three months of unrest. this may not be enough to placate protesters. some lawmakers say t

here is abigail doolittle to abigial: you are right about that. take a look down the nasdaq following losses in europe. this coming on trade concerns along with the disappointing ism manufacturing number. the dow down 1.2%. dow transport underperforming even more. the macro uncertainty we saw broil the market continuing into the month of september. not surprisingly, we have a rally for haven bonds. at the 10 year yield, we will see a distinct move after the ism manufacturing number came out. bonds have been rallying overnight, and right around the time the ism manufacturing number came out, it was said bonds had been slightly in the red with yield slightly higher. a big drop off at the lows, down seven basis points. a big rally for bonds as investors seeking haven assets in the context of the uncertainty. the uncertainty you and michael mckee were talking about, if we go to the bloomberg and take a look at a great chart showing the manufacturing numbers, pmi's around the world, there is the case for a manufacturing recession. pmire looking at the

i am abigail doolittle. soaring global debility was the theme of the conference. considerable attention to environmental instability. mark carney moderated a session on harnessing the power of capital to fight climate change. it featured top executives from the world largest pension fund, the largest insurance company, and one of the world's leading investment banks. >> the conversation has amped up materially over the course of the last year or two. there is no place i go with either ceos, investors, market participants. this is not a significant conversation. volume is different, particularly in europe. you can feel the ground swell of popular sentiment that the urgency of this is elevated. in the u.s., it depends where you are, in terms of level of engagement. it is up everywhere. there is a lot of focus on it. from a capital markets perspective and availability of capital, it is relatively niche in terms of how it is operating. -- of where it operates. there is growth of green bonds over the course of time. significant, last year, about $250 billion of issuanc

abigail doolittle joins us. it is a relatively small position.very small position compared to some of the top shareholders, but they have such an reputation for being inactive -- for being an active investor. the plan is to boost the stock by 50%, quite a boost. they suggest doing it by divesting assets. there is a multi-part plan and we have an outline of that. part of it is to explore divesting assets such as directv, wireless, some of the landline businesses that are not helping them out, run a more efficient operation by cutting those cost and stop making some of the big m&a purchases. they are saying they could recommend candidates for the board, but the overall case is the stock is undervalued relative to the s&p 500. if they make these changes they can boost the stock higher to perform in a better manner. guy: president trump tweeting on the story. he sounded positive. interesting the president was doing this. i expect he has a different objective to elliott. abigial: you are right about that. it is not every day you have a president tweet

we turned to abigail doolittle. abigial: we are looking at small gains for the major averages in the u.s. at this point. take a look at the dow, the s&p 500, and the nasdaq. even though the gains are as modest as they are, a continuation of the risk on town, the risk appetite we have had as investors look past trade fears and other macro uncertainty ahead to the fed next week. confirming that risk on town, take a look at bonds. haven bonds pulling back, the 10 year yield up six basis points. a risk on town. if we switch to sectors, two of the top sectors on the day, energy and financials. financials being helped out by rising yields. an interesting divergence. we have the goldman sachs index of the most shorted stocks. that index is up 2.2%. those are the more momentum stocks. we have a momentum index trading lower, down 1.3%. an interesting divergence to pay attention to and see how it plays out. we have had this rally over the last couple of weeks. this is the new york stock exchange composite index. we see that i

now let's get a check on the markets with abigail doolittle. abigial: stocks are looking for direction. you will see small mixed moves to the downside. now we have just the dow down slightly. the s&p 500 and the nasdaq up slightly. you will notice bonds are carrying a direction. they are getting is the 10 year yield is down five basis points. that would suggest there is a risk off tone as investors are going toward those stocks around even and that move down for yields happened around the time the fed to do that repo around 10:00. we can take a look at the spike overnight repo rate that you and vincent were just talking about. the fed trying to alleviate liquidity concerns. a huge move higher. injecting a little bit of uncertainty into the market, although vincent cignarella making the case this is not an unusual strategy prior to the financial crisis and not a big deal right now. if we look at the imap or the sector composition of the s&p 500, it has a risk off tone despite the fact that more sectors are higher. i say this because people look

david: thanks so much to abigail doolittle. coming up, the financial transaction act that has some democrats excited but wall street nervous. that is coming up next and this is bloomberg. ♪ david: this is "balance of power" on bloomberg television. we turned to mark crumpton for bloomberg first word news. mark: trump officials are considering an interim trade deal with china that would rollback tariffs for the first time. bloomberg has learned that in exchange china would make commitments on intellectual property and agricultural purchases. the talks are per luminary and president trump has yet to sign off on the idea. u.s. and chinese negotiators will be resuming trade talks in the coming weeks. president trump has no plans to meet with the iranian president while he is in new york for the u.n. general assembly later this month. steven mnuchin also said today that the departure of john bolton as national security advisor will not dramatically change the administration's position on iran. president trump said he would meet with