amex and apple are two of the worst performers and amex, although they beat and revenue was ahead andoan growth was good, ken chenault is going to leave people wonder whether it's enough of a high note of that whole costco thing >> it's opinion subeen such a h. and to say that this last run could have been continued would have been hard no matter what happened and chenault had really listened he's really done a lot of things that were terrific to get things together it's been a remarkable stock i salute him he is absolutely going out on a high the stock has had a real rebound. we spent a lot of time talking about the misstep on costco, they wanted to justify it on cost terms the value proposition to your amex holder is still somewhat unclear to me in terms of actual card -- >> and rewards >> what you're paying for that and the competition on reward, particularly from the likes of a jpmorgan, with some of their new entrants >> by the way -- >> and market cap is essentially equal to >> paypal is, you know -- the first thing that i remember when i got out of college, my father said, you'

amex is lower by half a percent. the moves with rates today despite the record high for the market overall, some of the bond sectors like utilities and telecom were lagging in the market especially telecom just down about half a percent. >> even though bond yields are not raising higher, they're sticky at the low levels to me it's more about whether the street wants to be more defensive or offensive right now i think it's where the money is flowing right now and probably the reason that these guys are suffering >> and how does that fit in, jason, with what you're saying a moment ago about the financial kps. >> listen, i think yeah, i think it's very well to the extent to which i think a year from now, interest rates will be meaningfully higher, short rates and long rates -- >> what if you're wrong? >> well, you know -- >> wrong rate. >> and that happens. that happens more frequently than i care to admit but in my opinion, a lot of this, of course, goes back to what we were talking about before a lot of it hinges on t

i'm going to put it on my amex. actually, sorry.d. >> thanks. >> you can put it on the amex. sorry. [ cheers and applause ] >> jimmy: that looks great. >> thank you. >> jimmy: "brad's status" opens everywhere on friday. we'll be right back with more from ben stiller, everybody! [ cheers and applause ] >> both: thank god that's over. [ cheers and applause ] ♪ ♪ starbucks nariño 70 cold brew coffee. in stores now. only at starbucks. forty-eight hours of protection. i don't have to re-apply this, not once. it's really soft and almost velvety as you put it on. that's like really soft. try dove advanced care for softer, smoother underarms. lips lose natural color lackluster lips? don't think so. over time. chapstick total hydration moisture + tint. our 100% natural moisturizing formulas enhance your natural lip color. chapstick. put your lips first. ♪ that one. this. that one. ♪ ♪ - what's that? - well this is my equation foi've developed the 4 ps. politeness, patience, practice and... promotion! haw! ♪ yeehah! break through! break throu

he reportedly sold out about a year later because the firm wasn't convinced that amex could make the changes needed to produce shareholder return the company lost a major partnership with costco. chenault said today that the company is nearing the end of its two-year turnaround, melissa. >> leslie, thank you leslie picker back at headquarters a little early there, because a lot of the gains were in the past year. >> yeah, yeah. listen, this has been an absolute monster it was at one point left for dead after they lost the costco deal, people were questioning whether or not they could actually survive, what they could do in this environment with everything changing that being said, with ken chenault leaving, you've inserted some your honor certainty. ken is at a two-year turnaround, they completed that, what's next i think the market is going to be asking that it's going to be a prove-me stock. i'm not saying it will fall apart. but definitely a prove-me stock that i would rather buy on dips. >> i say it falls apart. if you look at the long term chart on visa and mastercard, those are

antitrust enforcers have argued amex has an unlawful restraint on trade. >>> netflix added a lot more b subscribers and plan to spend more on content next year. they earn 37 cents a share, 5 cents above estimates. revenue increased 30% from a year ago, to nearly $3. and investors like those results sending shares of netflix to an all-time high in afterhours trading adding to the stock's already big ga. julia boorstin breaks down the netflix results. >> netflix continues to outperform as its investment in content pays off. adding a better than expected 5.3 million new subscribers this quarter, and projects a stronger than expected 6.3 million new subscribers next quarter. in the face of growing competition, the ceo said the feature largely lies in original content. it's planning to spend more to keep ahead of its rivals. it will spend $17 billion on content commitments over the next seven years and spend between $7 billion and $8 billion. >>> nordstrom suspends talks to go private. that's where we we gin tonight's market focus. members of the founding family have halted their efforts t

when he took the helm in 2001, he worked to turn around amex after the company lost its partnership withtco. the firm expanded beyond it's core market of corporate and wealthy markets. chenault will be exceeded by steven squeri effective february 1st. on the conference call, the incoming boss said that the next chapter will be about building on the momentum generated with a special focus on innovation, expanding core product offerings, and enhancing brand and customer relationships, and partnering with others to stay ahead of the curve the credit card company posted better-than-expected thaird quarter results last night shares down about a percent this morning. >>> other stocks to watch, ebay's third quarter profit was in line with forecasts revenue edged past analysts expectations because the company warns fourth quarter profit could miss expectations as it invests more in marketing and a revamped website in an effort to attract more shoppers. that hurt the stock. it's down 5.6% >>> united airlines third quarter profit falling less than forecast the carrier had to cancel thousands of fl

outside the company, who said to me, "i don't think a black person could ever be ceo "of a company like amexerican express." and, my view, taken, frankly, from my parents, was one that obstacles were to be overcome, and my father had a great saying, that focus on the things you can control. and the one thing that you can control is your performance. what i found at the company was a very supportive environment, the mentors that i had, the board, certainly encouraged me to think about the opportunity and the potential to become ceo. so despite the fact that i did encounter doubters, both inside and outside the company, i think that the management team and the top management team at the company, was very encouraging to me. so when you became the ceo in 2001-- january 2001. so did you hear from all your high school classmates telling you they knew you were going to be successful? there were, frankly, some people when i was growing up, who thought that my vocation would be more politics than business. but you certainly encounter those people who feel that they knew. i think, frankly, that there

fact of the recent reporting we've gotten out of the banks has been pretty grim for the third quarter amex reported that their revenue was up seven percent but their provisions were at fifty three percent so revenue up seven provisions up fifty three percent and that's the largest increase that they. had since two thousand and ten and j.p. morgan being there alone last provisions on the credit cards up fourteen percent mostly all credit cards citigroup same kind of thing they have the loan loss position provisions up thirty six percent of that and that's all saying that they expect to have more and more people not be able to pay their credit cards out in the future so if we look at why that is happening like you said a lot of that is that to do with income people are spending but their incomes haven't been going up in fact median household income hasn't really grown up until very recently it was below the peak of one nine hundred ninety nine and if we look at credit card balances they've been growing faster than income has and you can't have that go on indefinitely right if i keep borrowin

credit card company posted better than expected third quarter results he has worked to turn around amexfter the company lost its partnership with costco. and under his leadership the firm expanded beyond corporate and wealthy customers to serve a broader client tell. he wi clientele on the call, the incoming ceo said the next chapter would be about enhancing brand, partnering with others to stay ahead of the curve look at the stocks, shares of american express up 60% in the past five years, down more than 1% in early trading. back over to you >> some articles talking about how he was pioneer, and it shows a lack of diversity at the top >> 16 years ago, absolutely, a big deal in a very kind of blue chip american company at the time interesting the transition now, when the earnings were reported last night, they had this news on top of it it's not as if people didn't realize there was a succession plan underway, but nobody thought it would be yesterday. so a bit of an adjustment like it wasn't that the ground work was laid carefully for this move fended off an activist pressure a couple y

right now, amex is having a great year, the best year since 2013.nclear what the implications could be for the profit outlook. if the case will be heard early next year, the ruling will be in june. other trading companies are trading lower but i think it could help them. the most interesting implication could be for big tech. alphabet, facebook and amazon in terms of their double-sided platforms. the retailer and the consumers. this could provide a precedent of some sort. thingll be an interesting to keep an eye on. hit taking a bit of tha during the worst in two months. david: nicolas maduro claims victory last night. the victory dramatically defined polls and widespread game for the opposition. the head of the opposition expressed concerns that the results were manipulating, saying the world believes the story that has been told. let us start with the reaction to the voting we had yesterday. surprised by the results. in fact, it was flipped from our base case, which was based on the results of the national elections in 2015. three. even in the con

. >> yes, has been at the helm of amex for 17 years. 66 years old and just managed to turn around a financialvices company and says now is the right time to hand over the reigns to someone new. that someone new is the vice chairman. 58 and that will be effective from february 8. the news was wildly expected. didn't see a major move in after hours trade thachlt . that is a long time as a ceo of a big company, 17 years. >>> taking bets on where we think the headquarters. >> atlanta. i lived in atlanta for a long time. it's a progressive city. it's growing. >> big airport. >> great place for amazon. >> we'll find out soon. >>> still ahead, terrifying scene in houston as dramatic carjacking is caught on camera. police now looking for help in finding the suspect. >>> woman continue to speak out about harassment and sexual assault. breaks silence. we're on a mission to show drip coffee drinkers, it's time to wake up to keurig. wakey! wakey! rise and shine! oh my gosh! how are you? well watch this. i pop that in there. press brew. that's it. look how much coffee's in here? fresh coffee. so rich. i l

is the news for amex chairman is retiring effective february. and making way for the current vice chairman who will take over on february 1. united takeover of continental, but we will go to ebay first. julia: you can come back to that. we have got disappointment in the markets, ebay is now down. revenues actually were a bit better than analysts were expecting. the problem is the forecast below for the fourth quarter, eps at $.57 to $.59. the consensus was towards $.59 and $.60. that is accounting for disappointment in the markets. scarlet: let's look at united continental. a little changed after hours trading. beating analyst estimates by three cents, revenue in line with what analysts had been looking for. down 3% innue it is the third quarter. for the fourth percent they see passenger revenue for december down versus the year ago while october, november roughly unchanged. joe: and a correction on what i said about adobe earlier. these are numbers it is reaffirming. they see full-year adjusted eps -- full-year revenue $8.7 billion versus $8.6

he will be replaced in february vice-chairman at the company and has been at amex for three decades.ead the firm's through the fallout of the september 11 terrorist attacks and the 2008 financial crisis. that is your bloomberg business flash. anna: thank you. question, whoine remembers this day in 1987? the biggest single day market collapse in history. it redefined the financial landscape. manus: we're all still here 30 years on and we have a roaring bull market with comparable conditions create or do we? make the same mistakes? of course this lends itself to history and a beautiful chart. trump onst one-day record, if it was to happen again today it would be the equivalent of 5000 points off the dow. have investors such as ubs learned lessons from 1987? guest: there's nothing like an anniversary of a major event remind people of the risk there is in the market and a lot of people rightly so are becoming quite aware of how far we have come in the equity markets where the valuations ree and what the next risks out there are. the backdrop is pretty strong, global growth is acceleratin

may have been trying to get amex and i did -- expedited.re is no move on that, that's the immediate trigger. i think underlined that, like most things in the middle east, it relates to the syrian civil war, where the americans and turks began on the same side, but it looks like they are on opposing sides. joe: we saw the turkish lira really get clobbered with -- when this news came out. without commenting on why the currencies do what they do, it looks like investors read into this event something deeper. this tells us something profound about the state of u.s. turkish relations. what does it say about where we are? deterioratingen for a wild, what is the news today -- what does the news review today? these kind of geopolitical questions are difficult to quantify in the way that you can quantify economic fundamentals. it's certainly true that a lot of investment in turkey is kind of pinned at some level, may be subconscious level on the premise that turkey is a solid member of the western alliance. anything that throws that into question de

consumer health care business a new high chevron, believe it or not, a new high a couple year high amex at a two year high and intel at a high. and then historic highs, caterpillar, boeing and microsoft also sitting there as well that buyback from walmart? that is part of a whole elite i call them monsters dow companies that have been huge look at this, walmart has bought back 30% of its shares since 20 2002 exxon has bought back 41, ibm half of their share, boeing 40% since 1999 these help he reduce their share count, improve the earnings, all other things being equal so my pick for the stock that will bring us up 200 points? it's boeing. it's unstoppable there has been no pull back at all this year in any of the aerospace names. back to you. >> bob, thank you. >>> today it is walmart helping to push the dow to new record highs. is this unstoppable? where are the bears in this market let's bring in jim paulson and steve hoff steve, you are not a bear. you think we have only to go higher from here which sounds -- excuse me skepticism, but extremely optimistic considering we're going rig

i do not think i can amex the night on my company got a card.tai strip, it is 80% booked out. ,hat you can get is the suites 10,000 hong kong dollars, through 1300 u.s. dollars a night. they are going for five times the normal rate, so if my boss is listening, if you are ok with me spending that, i will go ahead and stay a few nights and check out the real pull of this place. -- pulse of this place. the numbers are up. high 970,000,ade 1.2 million, come from mainland china. we are tracking a 5% increase on those numbers this year because of the super golden week this year. anchor: all right. place your bets. stephen engle, thank you. we will talk to you in a bit, joining us from macau. we have more on the bumper golden week expected in macau. partnerting management in 40 minutes time. we have the market open in japan. futures heading positive here this morning. more to come. this is bloomberg. ♪ betty: 8:00 a.m. here in hong kong. , live from bloomberg's asian headquarters. yvonne: i'm yvonne man, welcome to "daybreak: asia." the las vegas shoot

i'm sticking with $100 >> amex and visa not playing today. >> what was up three points was envidian nowcoming in i'm urging people to understand what it is it's not my dog. it's not crypto currency it's a semi-conductor currency >> people still digesting diamond's and fink's rants on bitcoin on friday. >> the bitcoin, you say something negative about bitcoin, look out. >> okay, i won't then. >> we'll get "stop trading" with omt.in a men don't go away. i can't wait for her to have that college experience that i had. the classes, the friends, the independence. and since we planned for it, that student debt is the one experience, i'm glad she'll miss when you have the right financial advisor, life can be brilliant. ameriprise >> people are desperate for plays, they have taken caterpillar all the way up, coal all the way up so yes, they're going to come back to wynn resorts there's a really good note today that i thought told a very good tale jp morgan, talking about, just saying, i'm sorry, deutsche bank saying the palace, this is what is really important. the palace pickup, if you go back

shares of amex have 23% so far this year.merican cities are pulling all the stops in their bids to come onto amazon second headquarters. stonecrest georgia has offered to change its name to amazon. tucson, arizona tried to send the company at 21-foot taxes. promising to invest $5 billion create 50,000 jobs. the deadline to submit bids us today. of course check this out. new york city would seem as though the including the empire state building and world trade in amazon color last night train to help seal the deal. finally, the first lady melania trump is donating herb logon to the smithsonian national museum of american history. she's heading over the off the shoulder gown with a slit skirt. the tradition first began with helen passed back in 1912. maria: wow, cool. thank you so much. interesting. would you see the first lady's gown at the smithsonian? >> i think if i was already going with the smithsonian i would happen to pass by. i do think it is nice if they contributed because it gives you a sense of being able to even t

the goals came late at the amex stadium.ld combe and praised his players. he said their luck would change. but his management is coming under increased scrutiny. there is no confidence, all the players are like statues, they are static, there is no movement. there is an imbalance with gylphi sigurdsson and wayne rooney playing in the team together. it was a massive disappointment. you had to look out it is connected to the manager as well, there is a fear in the players. the other match in the premier league was also a draw. newcastle took the lead twice, but southampton kept pegging them back, gabbiadini with his first goal for them. in rugby union we had the first round of european champions cup matches and saracens sent out a warning to their rivals as they opened the defence of their title and stop they put eight tries past northampton saints, two of them from liam williams. it finished 57—13. they are looking to complete a hat—trick of european titles. to hatton has pocketed almost £1.5 million in the space all week aft

american express chair and ceo kenneth stepping down february 1st, he's been at the top job at amex for 17 years, he's retiring now. the company also reported higher profits, higher billings, lone growth help jump-in cost, the stock will be down about a buck at the opening bell this morning. this is terrific news, more progress in the fight against cancer. this looks like a breakthrough, another one. fda approving a new treatment that uses the patient's own immune system to kill cancer cells, doc seigal will tell us how it works. jeff immelt, former ge ceo, reportedly had an empty second private jet following him around on business trips. even told his flight crews, don't discuss the empty jet, bad pr. bad pr is absolutely right. a scary warning from the top intelligence guy in the uk, head of mi5 says the terror threat in britain is higher than ever. worst in his career. we will be back think your large cap equity fund has exposure to energy infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential inc

the scheme that is run by visa and amex, you can contact your bank and say, i need a refund.y will accept their charges and look into them. it is a case of asking for these claims. saying, i need some help. you could ask your travel insurer. some policies to cover this, it is also about checking whether there are any other schemes available to you. if you booked on a credit card, there are other things you can try. tell us more are other things you can try. tell us more about booking with a credit card? if your return flight is over £100, your credit card is reliable if you have not had the service you have played for. you can say, i am in this situation, i need some help, i need this back. you could also say, i'm of pocket if you booked things like excursions, you could say, can you help with that? contact your travel insurer and say, can you help at all? it all comes down to how you've paid closer yes, some areas have about a 180 day ruling on the payment scheme. this situation isa the payment scheme. this situation is a bit different, so go as quickly as you can, speak to