, other financial institutions that blackrock uses to help disturb their products.hey have the absolute most awesome this abuse and platform right there, if the deal goes through. it is just in talks. i think it is a great deal for them if it can go through because they get right to the consumers, right into the consumer's hands. look at tencent. we have a slowing chinese economy per one would assume with them having so many fingers in so many pies, that they are well-placed hook to cope with any deep slow down. what is your thinking? isyes, the slow down affecting tencent at the ad level for example. if people do not have as much money they may not spend as much on games and other things. think then a way, why fintech and business services division is something to watch out for peer wealth management, even if the economy slows, we are still talking 3% 4% 5% growth, whether or not you believe the official numbers. there is still a lot of money sitting around that needs to be managed. 10 tencent is a company that really wants to help people manage that money. so if e

blackrock 10%, vanguard, 12%.he other once they didn't support. -- the other ones they didn't support. and at marathon, at marathon -- the worst -- in 2017, blackrock voted against a shareholder proposal for marathon to test its business operations against the 2% celsius threshold that blackrock claims to target and support. by the way, if blackrock had voted its shares for this proposal, it would have passed. just this month, marathon finally published a report examining its own prospects in a carbon-contained world. in one scenario, demand for petroleum-based liquids plummets 26% by 2040, with demand for vehicle fuels, marathon's primary market, vehicle fuels falling even more steeply. if marathon estimates the market for its main product could shrink by a third or more, first you can understand why it got in there to manipulate the auto fuel efficiency standard process; but you can also understand why it is that economists and sovereign banks are issuing these warnings about a carbon bubble. well, we will get s

guy: what is the blackrock view of what is happening in germany right now?germany and recession? is unemployment going to start weakening? if it does, are we going to see in 2020 some sort of fiscal response? marilyn: in germany, it is basically teetering on the brink of recession, and it has really been struggling in particular with manufacturing and other things. we have actually seen in the budget proposal put forward to germany, they are actually loosening their fiscal stance. they are already starting to provide some form of stimulus, along with, for example, the netherlands as well. there is obviously potential for a lot more from germany come about whether that actually comes to fruition remains to be seen. but i think certainly, with the change at the ecb and with calls draghi, time again from and i would assume now from lagarde, that you will need to see more fiscal impetus from other countries within the european union and the euro area. it is reallyo far teetering on the brink of recession, and i think we may see some more. whether it is enough to

still with us is market from blackrock -- martin from blackrock.m now if the outcome has a huge impact on investment opportunities in the pound. martin: probably not much. but one thing is clear. the less likely no deal brexit becomes, the more necessary it is to build up or start building up positions in sterling again. we still see that some of the positions we have seen are undervalued. and not all of the investors that are probably willing to invest in the u.k. in general in a normal scenario have come back to the market. francine: this is one of my charts i love and looks at pound volatility. that has been dropping quite a lot. are you expecting volatility to go back up after the extension? one elements in the extension would probably be there are still some european politicians still hoping and thinking that avoiding brexit altogether is still possible. there may be a believe in the european union -- belief in the european union. it will mean that if this is true, some will come back to this extension. boris johnson said, they will call a sna

we had an interview out of hong kong from blackrock saying that is the best you can hope for. there is such a big abide between china and the u.s. that a small amount of good news is the best you can get. that seems to limit upside for the global economies. that seeds into the thinking why this great expectation for a fed rate cut, and this volatility, this uncertainty, if you are thinking traders are having problems wondering whether to take positions that they should decide on something because the uncertainty is such that the situation could change from minute to minute, how are businessman going to make decisions about what they should take when they are looking at projects that might take a month or a year to come to fruition? if there is any impact on those decisions, they are completely in the dark. throw that into the mix and central banks look more likely to ease because economies look like they will be more fragile going forward. anna: thank you, garfield reynolds, head of asia markets team. let's bring you breaking news, out of the japanese food and ,rug business th

i don't sense that from blackrock.g boom, a price lower in fixed income. a bond market selloff. russ: can the u.s. ten-year back at 2%? absolutely. we are in this place because of low nominal gdp, secular demand of bonds -- for bonds in an aging population, and putting a cap on long-term interest rates. that of those conditions has changed. tom: there is the fear price will move, equities will go down. how do you sustain confidence to clip a coupon, to wait for the next dividend growth round? down,p because of another growh scare. policy,it is because of stocks and bonds have been negative court -- negatively correlated. the question is where is it coming from? is it coming from inflation? is it coming from a pivot in central bank policy? central banks have pivoted towards greater easing, so i would ask the people of the death star, where is that bond market crash coming from? francine: there you go, personality. we will get back to russ koesterich of blackrock. we are live at the teacher -- where manus cranny will spe

rupert harrison from blackrock is still with us. tory party -- it does give us perspective into what we are seeing now. when you look at what the market is pricing in, is there any glimmer of pricing of a no deal brexit and should they price that in? rupert: a little of that still priced. i think the market understands this has been pushed forward until after democratic events of some kind. we will have a general election for a small probability of a second referendum. the uncertainty mainly embedded in the outcome of that election. happens anhat extension giving the court rulings -- rupert: i think the common nation of a solid majority in parliament that not only has legislation but can respond to anything the government does to pin any holes in the dam that the government manages to create plus a legal system showing its willingness to enforce the law means we should see with these -- as a political stance. they want to maintain the purity of message they've had. in the end they will abide by the law. extensionme there's and gener

wei li from blackrock is still with us.ificant jump in the pound yesterday, markets moving on it as well. does this change anything for you at blackrock in terms of how you would allocate based on brexit? wei: what we are starting to see is investors are getting brexit fatigue. they are coming to us and is saying, i don't have any insider information as to how this will turn out. can you assess my portfolio it and make sure i don't have binary exposures to brexit outcomes? we are helping them in that area. and in terms of the progress we see anybefore substantial concrete proposal, i remain not very convinced we are headed toward a deal before the october deadline. there is not a lot of room for error. if you also look at more recently, we see inflows into equities, inflows into exposures. not a lot can go wrong. investors are sitting on those exposures. matt: what do you think about the ftse 100 versus the other major european indexes? it has not done half as well year to date. it is not even up 7% compared to 17 on the ca

we are seeing japanese stocks rallying, but blackrock telling investors to be cautious. why?: hi. that is right. the benchmark index up about 7% since the end of august. the best-performing major market in asia but blackrock is saying that is probably just a temporary rally and reiterated it is underweight on japanese stocks. the main driver of this rally is not sustainable. it says it is a perceived easing of tension and as well as a rotation into value stocks in japan. it argues japan does remain vulnerable to a slow down, particularly in china and that we are likely to see more volatility in japanese stocks. having said that, there are those that are little more optimistic. morgan stanley and j.p. morgan seeing valuations in japan and saying stocks are under by investors. shery: thank you so much. our bloomberg cross asset editor. you can find her charts on the dtv go library on the bloomberg. st. louis fed president james bullard is making the case for more rate cuts, citing the trade war and other downside risks. he told us he thinks the fed should consider additional in

is it the vc's fault, softbank's fault, we had larry fink on earlier. >> blackrock. >> t.rms that got into these very late in the game. in the private space that have pushed the valuations up. >> there's a lot more money that had been flooding into the market, not from softbank but others, lie fidelity, big mutual funds found their way into some of these things. i think, you know what, when you have a much smaller constituency of evaluators is what we think of them, the valuation is going to be way off. the whole point of a public marketplace is that you have a lot of people buying into the system and sort of figuring out where it should really be. if it's a handful of investors with a few more tacked on, it will be inflated or grossly distorted. that's the tension we're seeing now between the public and private when these lockups expire, all of a sudden you have to rethink what is this company worth? why are we thinking about three months or six months after the ipo? that's a bad sign. >> pivot to the other favorite story, wework. adam neumann joe is not -- i thought you

joining me around the table is bob miller of blackrock, krishna memani of invesco, and in london, jamesthey of aberdeen standard investment. thank you for joining us. bob, inflection point, are we there? bob: maybe. there appears to be a decline in the headwinds associated with brexit, and with the u.s.-china trade escalation that has created headwinds over the past year. the question investors need to ask themselves is what does resolution lead to? is it stabilization at a lower level of growth, or is it re-acceleration? our bet is it is more like stabilization. when you think about the distribution amount over the next year, it still strikes me that it is pretty low odds that we will meaningfully re-accelerate global growth over the next year or two, that the good case outcome is stabilization, and there is still a risk of further deceleration, depending on other factors beyond these two specific headwinds we have. caroline: krishna, you think stabilization is the watchword here. what about some of the other risks, geopolitical risks that do not seem to be systemic, middle east, turke

and here in new york, about 200 protesters rallied at the headquarters of blackrock tuesday, calling on the investment giant to end its support for fossil fuels and companies driving deforestation. blackrock is one of the world's largest asset managers, with more than $6.8 trillion in assets worldwide. it''s also one of the biggesest investstors in coal and oil. this is reverend kevin vanhook of riverside church. >> we are here this morning because we believe the earth is not something we have inherited from our past, but rather something that we are borrowing from our future. we are here this morning because we believe that our children and their children and their children have a right to clean air. we are here because we believe that our children and their children and their children have a right to clean water. we are here because we believe that our children and their children and their children have a right to have a say planet to call home. we believe in freedom for this planet, and we cannot rest until it comes. amy: tuesday's protest was held on the 7th anniversary of supers

is colin joining me robertson, kathy, and jim kate in the blackrock.athy, have we seen the worst of it? kathy: it looks like the worst is over but it does not look like it gets much better for here -- from here. we are cheering on the fact that it is not continuing to decline at a fairly rapid rate. we get a trade deal, we have some lag from the easing from china and other central banks. is over butrst certainly going forward it is not going to be strong. jim: the data is going to be mixed. there are components of the market or different reasons that we will see weaker data or weaker news into the balance of the year. there is a variety of data that will start to stabilize and you are seeing that in corporate earnings and some parts of pmi data. you see some stabilization. i don't think this is about upside level or growth but about reducing the probability of a recessionary risk. jonathan: something we have mentioned for the whole week is sometimes how the market response to data is more useful than the data itself. the treasury market rallied on bad

that is what we do around the blackrock equity dividend fund.ing about shifting more towards value, or still a growth driven market? tony: incrementally, there is always some trade-off. we are moving a little more towards valuations, but that said, i think you can have a little but of your cake and eat it, too. with some of the disappointing ipo's, i think people are becoming increasingly worried about some of the growth companies that don't mike money. i think that's where you have to be careful. alix: they might have gross because of cloud, but they are worried about profit ability. -- about profitability. tony: exactly. alix: there's conversation that maybe the dollar has peaked. what is the story in your world? mark: i think a lot of people have been looking for the peak. the country i thought was interesting was norway. last week, the norwegian krone hit record lows against the dollar, record lows against the euro. , --er widgeon stock market the norwegian stock market i think might be up 2% to 3% this year. in some ways, it is a value grow

the blackrock saw investors shift money to the fixed income funds and cash managemt units.up more than 2% to 444.45. sharls e schwab toppimates thanks to higher trading value and growth in the asset management and administers fees but onlineroker said it is still concerned about a global trade and a st economic outlook. schwab rose more than 5% to 39.74. >>> abbott lov is buying back an additional $3 billion worth of shares. separatelyhe company said it's team up with tandem diabetes care. explore new ways to improve diabetes management options. the shaors rosethan 2.5% 81.98. >> canadian companyecorded mix results. it turned in a profit when wall street expected a loss. but revenue came in below expectations. afria refied theull year outlook. and shares rose morthan 24 peart 5artoday pifrmgts then after the bell tonight united t airlinped estimates but revenue fell issues short. the airline experienced flight reductions to hong kong and mcin the latest quarter. but united was ae to raise its full-year outlook. initially shares ricing in the after hours trading on top of th

companies demonstrators blocked streets and held banners at sites like the bank of england barclays and blackrock. letter is the world's biggest asset manager and activists say it has brbroad power to influence the companies investing. in no immediate comment from the firm the way these kinds protests are just limited to london we'v've seen extinction rebellin set up camp in paris prague and elsewhere mark group is halfway through two weeks of civil disobedience trying to highlight the risks. of climate change. coastline of the business thank you very much indeed more of course on the oldest stories as they happen thank you all very much date. it's cross sedia james creating the weights with that media watching good evening to you sir. i'm i you'd be lookingng at reactions to the fronts jim the melon schooling or rather canceling arms sales. to turkey czech republic those who join that list like but not the united kingdom. yes i'm so lots of comments on that specific angle on what's been happening between terry and syria. to turkey and syria but just to focus on reactions. at all regarding france

blackrock has held women -- talks with others over blackrock has held talks as they look to expand operationss have been struck yet, but we have been told one discussion point is a joint development of software, similar to another business that helps clients manage risk in their portfolios. ceo larry fink is counting on this to drive future growth. india's largest manufacturer of flexible packaging says it will invest millions over the next four years to expand of element of eco-friendly products. it says it sees a big profit potential in prime minister narendra modi's plan to eliminate single-use plastic. hugeountry has a millennial population that drives global purchasing trends. let's get a quick check of the market. under seeing kiwi stocks pressure, falling for a second consecutive session. also, this would be the biggest drop in about three weeks. we had the u.s. falling with the s&p 500 seeing the biggest drop since august. we had some disappointing numbers when it came to payroll numbers out of the u.s., sydney futures also down 1.8%. nikkei futures though gaining 1/10 of 1%, this com

look at some of the other bank earnings, but we also have blackrock which reported and came out with even ahead of their earnings, bank of america and morgan stanley were writing the tide. reportingerica wednesday. they have already reported and will probably see a decline in their training revenue. bank of america has one of the best track records for a gauge that is followed. cost-inefficiency gauge on how much it cost to make a dollar in the banking business. they continue to be very efficient there. a lot of analyst looking for to that morgan stanley will be rounding out the big banks reporting this week on thursday. earnings season there. we are now counting down to be open in india, just under an hour to go. how is it looking? davina: so far so good. yesterday session had a followthrough buying coming in after the day before where we saw a bigger close for the indices. anothererday session, $16 million worth of equities were bought into by foreign and stash in mumbai, from institutional investors. you've seen through four numbers out yesterday and all were relatively strong as

blackrock reportedly is taking steps to strengthen its foothold in china.as preliminary discussions with chinese internet giant tencent. blackrock wants to make its debts wants to make its tools for modeling is this -- wants to make its tools for modeling business portfolios more available. johnson & johnson agreeing to -- ohioohio came please counties a total of $15 million, and will donate $5 million to groups fighting the opioid epidemic. it is the first time a company has settled -- the company has settled an opioid lawsuit. green light gaining more than 8% in september. that brought returns for the year to an average of 24%. they remain committed to the strategy of buying beat down scott's -- beaten-down stocks. alix: thank you so much. we are waiting for the adp number to come out. the estimate is for 100 40,000 jobs to have been added. one thing you need to pay attention to is the census, which might change the data. the gm strike also. bid number coming in now, little light. it is going to be interesting to see what this has in store. 60,000 a bigge

i leave it to the words of blackrock. it's like a 1980's pop song. never-ending uncertainty.et's have a look at the oil markets. we are gliding to a deal. what is that going to do to the oil market? stockpiles dropped for the first time in five years. a big week for the oil market. all hitting the table this week. oil had a nice rally last week. let's get your first word headlines from around the world. desiree humphrey is with me right here on the ground. desiree: thanks. the leader of the islamic state militant group has been targeted by the u.s. military in syria. he has been killed. that news comes as president trump says he's going to make a major statement at 9:00 washington time today. the president tweeted that something very big just happened without elaborating. begun shutting off power to an estimated 2.8 million californians in the largest and longest deliver it blackout ever. the giant is turning off the lights for about 940,000 homes and businesses across northern california as it tries to keep power lines from igniting wildfires during the strongest windstorm i

how is blackrock positioning itself? >> even the black rock is an indexing giant, they have moved toward investment. one cornerstone of that has been their attempt to raise this long-term private capital fund which they are targeting $12 billion in fundraising for. lisa: how successful have they been? >> as of april, only $2.75 billion committed. they have a long way to go before they reach that goal, but they announce their first investment over the fall. lisa: erik schatzker recently sat down with the black rock head of equities. take a listen. >> i think we may see companies stay private for longer as a result of the availability of that capital, as a result of the ,ost of being a public issuer some of theof transparency. that was erik schatzker talking about the shift toward private, which brings me to kkr. the firm has raised more than $2 billion to invest in tech companies as they expand beyond the megadeals for returns. jason, more money for tech startups. why? jason: as mark said, these people need money. kkr say

blackrock,nguard, pimco, fidelity, all looking at opportunities despite these headwinds. broad conversation around issues of china, hong kong, and the u.s. recession and where he sees the federal reserve going. take a listen to this exclusive interview. internals mainly an issue within china. what i focus on, the larger narrative, which has been happening for well over a decade, is the opening up agenda of the china renminbi and local capital markets to the rest of the world. if you want to comment making hong kong less important as an entryway in and out of china, our offices are in shanghai, and we do that because i think going forward, shenzhen and shanghai and beijing, to a lesser extent, are really important cities in their own right for the capital markets in china. >> are you still seeing demand into yourf inflows china etf's from u.s. investors? jan: no. let me be very clear. the headlines, the trade war, everything going on has basically put americans on their heels as far as investing in china. investors have been allocated but -- adwhile, while, but there's a l

citi, wells fargo, blackrock. bank of america on wednesday. morgan stanley on thursday.look at the way the stocks closed, they were the outperforming group in this latest session, ending with their gains with some of the other market stocks giving their gains back. this quarter is excited to be challenging for banks from a revenue standpoint. the sixth biggest banks have been declining as much as $13 billion since the start of the year. the yield curve. the interest rate sensitivity. lower borrowing costs could help stimulate more loan demand. and then we have the trading revenue. will it come to the rescue? a lot analysts say not likely. thanks to the market volatility, three of the five banks, j.p. morgan, chase and bank of america, are expected to post higher revenue city over here. things that will be watched closely by investors. haidi: also closely watching the impact from a weaker environment, ipo's too, right? su: ipo's exemplified by the wework disaster. j.p. morgan was a key investor. if we look at the ipo weakness, it underscores a lot of these investment bank

geraldinekets, sundstrom with us from pimco and wei li from blackrock. flip the questions here. do you see a new permanence of belief in a low rate regime? if we shifted from low rate dynamics to a permanence of low rates? we are looking at how many more rate cuts they would continue to deliver for the rest of the year. phenomenon.a u.s. it is in europe as well. there is arguably more room for them to deliver. intertwined global markets are, the low rate environment is contagious. tom: i love this chart that we are putting up here of germany, the united kingdom and italian yields. let's take the finance of bonds and bring it over to equities. do youlook at dividend growth and dividends as a substitute for yield? the marketcertainly, has been doing this especially in the case of euro because of negative yields. equities are becoming some kind of asset for yielding assets. from here, two possibilities. and theetentions uncertainty we are seeing continued to deteriorate. equities might have a harder time. certainly, some dividends would have to be cut. on t

blackrock also putting up a solid quarter. inflows for both cash and fixed income strong. vonnie: thank you for all of that. remember, the function gtv allows you to browse all of the recent charts featured on bloomberg tv. catch up on analysis, savior analysis, save your favorites for future reference. this is bloomberg. ♪ guy: the irish prime minister over the last few minutes giving a press conference, not on brexit, but he's being asked about brexit. let me give you some of the responses. brexit progress is being made. unclear if a deal will be ready by thursday, wendy eu summit starts in brussels -- thursday, when the eu summit starts in brussels. johnson said he would be confident of getting a deal through. i'm not sure if that is referencing the british parliament brussels, but a few more hurdles to go -- the british parliament or brussels, but a few more hurdles to go. the pound trading at an elevated level relative to where it is been of late. we are currently on the cable rate at $1.2771. vonnie: parliament will apparently have to come in on saturday for one

the ceo is being ousted as his flagship funds shut down and he is hiring blackrock advisors.heford does not support decision and liquidation is not in the interest of investors. theier this year he stunned financial world by freezing the flagship fund. unicredit may create a german holding company. the move could reduce funding .osts and shield the bank unicredit and the ecb declined to comment. it may announce details at investor day in december. facebook's currency partners signing paperwork to join the libra association. is already facing intense scrutiny from regulators. a host of original partners pulled the plug including visa, mastercard, and paypal. francine: thank you. an initial trade agreement between the u.s. and china seemed insight, but bloomberg has learned that china wants more talks before xi jinping agrees to sign. what does this mean for markets? paul flood, fund manager, newton investment management is still with us. much would it change the global economy? paul: we were expecting a trade deal could come six to 12 months ago, and it got delayed because the

larry fink, blackrock its letter. this year the brt, it is an important step forward. don't have to go as far to say it is not about shareholders, to create the dichotomy between shareholders and stakeholders. this is ultimately is in the long-term interest of shareholders and think about how the company interacts with employees. charles: would you say short term economic hit and investment that would pay off later? >> we look beyond perhaps short shareholder returns and invest in communities. charles: beyond the lip it was explain where it goes. i explained you did million dollars, just gave away million dollars for opportunity zones. there was a summit. forbes hosted it. we know the opportunity zones are supposed to help urban areas and certain rural areas where there has been no economic opportunity. >> the opportunity zones part of the part of trump's tax cut had bipartisan support. it could be turn out to windfall for real estate projects that might otherwise not happen or important mechanism channeling into distressed areas. we used data insights, plus insights o

we'll lkta to blackrock's head of investing. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ >>> we're back.ys they don't work as well as many investors think they do. the ceo of levin capital strategies. welcome to our show. >> great to be here. >> you have been thinking a lot about this. you would agree that buybacks have had a tremendously stimulative effect on the stock market >> absolutely. >> what's the problem? >> a lot of people disagree with what i'm about to say. it is big just as you say and the numbers are really bigger than people realize. $600 billion a year of stocks being bought and actually affects the quarterly trading. i believe 80%, 400 of the s&p companies are buying back their stock. and through august, 50% of those companies lost money doing it. now with the rally, a third have lost it. so the facts are it is huge, and it is big. the problem is that i believe there is a policy question what american companies should do with their money. >> we were just having a debate as to whether companies like apple are good stewards of their capital. >> politicians want investment.

. >>> that was blackrock's bond king with two apple watches on did you notice that?d >> one on each wrist. >> yeah. i don't wear apple watches. >> want to be able to get your arms -- >> i need to -- >> curls with those things let's answer some of your questions now. first up, joe, comingto you. john in kentucky, honeywell, should i buy more. >> that implies john is long already. if long already stay long. >> buy more? >> we can skip that. >> buy more or not >> no. he should wait for earnings, october 17, up 22% year to date. tough comps, a tough quarter we're going to want to hear what the guidance is before we with decide to buy more >> okay. n nokia?im from texas, your should i buy nokia ahead o i do like the position i think it's a very good way to play 5g. in the last three months it's traded with the market but you have a nice dividend yield and 5g will roll out and these guys will get royalties on it i like nokia here. >> sarat from kay in illinois, where does oracle go >> trading at 13 times earnings. the inflection point coming soon from hardware to software

jpmorgan, goldman, wells fargo, citigroup, blackrock all reported ahead of earnings open this morningjust the two banks alone, jpmorgan, they have got 10,600 branches. they give us a great view of domestic economy. jamie dimon saying the american consumer is going strong. what does that mean for the stock market going forward? joining me nuveen equity strategist bob doll. thanks for joining us. >> thank you. charles: so far so good for the week 23 s&p companies reported. 91% have beat. won't be all that good but what are we getting so far. >> the strength of consumer. we have yet to hear from manufacturing companies where things are more questionable. we need stabilization in manufacturing here and overseas. germany, china, pmis, the isms, get a little stabilization there i think we get a lift. charles: when jamie dimon this morning talked about the u.s. consumer, waynes are higher, spending combined with strong balance sheet and low unemployment, that is offsetting weaker business sentiment and capital expenditures and some things people are concerned about manufacturing. can manufac

larry fink of blackrock is planning to attend. dina powell of goldman is planning to attend.is planning to attend. eric cantor is planning to attend. investment banking chiefs at both morgan stanley and jpmorgan are planning to attend. we do understand the trump white house is sending at least one top representative -- liz: a year ago they backed out of the davos of the desert. >> we should point out fox business was going to go and we backed out as well. liz: we're not going this year. >> not that i know of. no one's sending me. that's for sure. so what changed in a year? we will have a full write-up on foxbusiness.com. saudi arabia is now doing an ipo, okay, for its massive state-owned oil company. it's going to be, we are talking tens of millions of fees, probably undercounting the amount of fees because this is going to be a huge undertaking, so wall street wants that money. washington would like the prestige of, you know, saudi aramco at some point maybe listing in the u.s. this is a really big thing because what saudi royal family is going to do, mbs, with this ipo, is

with heavy hitters in both politics and finance including treasury secretary stephen the mnuchin, blackrock'skstock ceo stephensome schwartzman. front and center, the looming aramco ipo. charlie. >> i just want to make one point about zuckerberg. i think he did areat job with aoc, and i'll tell you why. she called the daily caller a white supremacist publication. that's from her far-left viewpoint. the daily caller's not the daily storm, okay? liz: i understand. can i just say? i disagree with you. i think he was -- at one point he said i didn't even hear most of the questioning -- >> welsh she's all over the place. liz: well, she has limited time. he should be ready for that. >> ready for what? liz: for these congressional people who are so interested in having the spotlight on them. >> liz, she probably thinks "the wall street journal" is a fa publication -- liz: i don't -- >> all he said is it's not for me to get in there, except for on the extremes, it's not for me to get in there and tout any political standpoint. if you're on the far left, you hate "the wall street journal" editorial pa

themselves to the offifices of barclays baban, military contractor bae system, and asset manager blackrock. >> this company are one of the major reasons the earth is such a mess. i know there will be people inside black walk whwho are working -- like rock who are working hard. surely, they will get the message that they are the ones who are making their future less safe. amy: despite the ban, extinction rebellion protests are contininuing in ndndon today,, where the group's co-founder, gail bradbrook tried to smash one of the windows of the department of transport with a hammer, while other activists glued themselves to the building. to see our full interview with dr. bradbrook go to democracynow.org. in ecuador, president lenin moreno signed a new decree on monday to revert fuel prices back to the subsidized levels after the government and indigenous groups struck a deal protests.ask of under the agreement reacheded sunday night, ecuador r did not withdrawaw from the $4.2 billion international monetary fund loan from ase and otheher media outlets reported. a special commission has now bee

blackrock saying they will chasing this rally. sincepics has written 7% august. 300 down by .3%. factory deflation deepening in the month of september. pork prices pushed inflation to the highest in six years, up 3% year on year. watching moves in the yield on australia's 10-year note, down point -- three basis points. howboard of the rba weight whether to cut rates below 1% which they did saying it out late risks of having a dwelling ammunition supply. had for what we expect from the bank of korea tomorrow, expected to cut rates by 25 basis points. let's have a look at the bond moves there appeared we have seen korean bonds climb ahead of that decision. swap soak suggesting to bok will be less aggressive than the fed, lowering the rate twice again in the coming year after reduction in july. that is versus the fed projected to more rate cuts after two already this year. you look at the return on korean bonds versus u.s. treasury yields have fallen about half the pace of those for u.s. bonds in the tenure range. the 10 year range. seeing an uptick in bonds ahead o

blackrock has warned not to chase the rally in japanese stocks. morgan stanley is among the bulls.lier advance. financials among the biggest drag. the co-we and want is on the back foot. -- korean won is on the back foot. dollar hovering above 68 and headed towards the first weekly decline in four years. up over 5% aso is a reported a drop in profit on surging costs and warned of muted steel demand. sydney sliding with several strategists cutting their price targets after the minor posted a drop in gold and copper output in the first corner. at 70-72.put shery: the asia-pacific unit of a be index has posted a decline in profit in its earnings debut as it faces a slowdown in its key chinese markets. asia consumer editor rachel chang joins us now to break down the figures. have seen a point to the success of their superpremium brands. what happened? >> well, what they are saying is that they saw a slowdown in their key china market, especially in the nightlife and restaurant channels. volume dropped the most 6% over that quarter. value did rise about the same amount. they also pointe

alix: let's take a look at blackrock third-quarter flows. what if we learned?i: we learned total net flows were lower than expected, which is not great. there was a rise in equities. you want to feel that maybe people are ready to take on little more risk. cnbc, and said they had some faith in the markets still. there's some confidence, but not flows coming in less than expected is never really a great sign. alix: especially when client activity for some of the big banks wasn't that bad. sonali: exactly. alix: let's get to build growth -- two bill gross -- let's get to bill gross. he launched his website with economic advice, right there on the webpage. sonali: i've got to say, the beginning was kind of boring. [laughter] dividend paying stocks, which is not the big stock to go with. alix: i'm sure he took the time where i just go, i'm in the gym, in the shower, and i come up with these ideas. that's how you wind up coming up with the best ones. they are framed in quiet moments in the shower. sonali: the best place to write a story. [laughter] alix: especially

other earnings, blackrock climbed on solid results.dhealth group beat analysts' invest -- analysts' estimates and beat the full year as medical costs table i's -- as medical costs stabilize, and johnson & johnson rising as a result. a positive first run for a lot of these companies. : but not positively continuing after the bell, at least two companies raising outlooks. su: let's go to after hours, sizable gains that will likely translate into wednesday's session. sleep number, maker of mattresses, record earnings, you can see the big boost. ual boosting its outlook yet again. the airline says it is ahead of pace for 2020 earnings. the cost of outlook is slightly exceeding forecasts, because they are seeing stronger travel demand, lower-than-expected fuel prices. take a look at sleep number. they announced record results, net sales grew 14% with a 10% year-over-year. i don't know if we have a sleep number chart we can show you, but that was a very positive result for that company. su keenan, thank you. joining us now is northern trust

anastasia amoroso of jp morgan, rick rieder of blackrock, michael collins of pgim, and mohamed el-erian program. coming up from the white house, we will get full reaction from national economic council director larry kudlow. that is first on bloomberg at 9:30 eastern time. your price action ahead of the opening bell looks like this. .25%y futures are positive on the s&p 500.

since then we have see job cuts at state street, blackrock, hedge funds, not just in the more passiveof pressure. what you expect for the year ahead after such a bloodbath we've already seen in terms of job cuts? michelle: the industry is changing good with change -- the industry is changing. with change, you need to embrace and not fact. operational alpha is incredibly important. we talk about investment alpha all the time. running great businesses does not mean protecting the status quo. it means staying a step ahead. i like to talk internally. we would rather disrupt internally than be disrupted externally. i would much rather be in control of the changes we need within the industry rather than be in reaction. largek the industry at has more supply than there is demand for many people doing much the same thing. of thet a recent future asset industry conference. the point is many jobs will change. people will move into different parts of the industry, perhaps. i do not believe the industry shrinks. i believe the industry changes. with change comes adaption. that mean some people goi

blackrock told cnbc how he expects the the fed to act >> i think there's more to come.enerally right. you get another 25 this year and another 50 next year i think one of the things i think is important that people don't talk about which you alluded to the balance sheet is incredibly important when the fed drops the balance sheet from 4.4 trillion to 4.7 trillion and think about what happened last year this incredible fx reserve circulation that took place, fed needs to let the balance sheet grow opposite for more investment ideased from the biggest names in business visit deliveringalpha.com. ♪ ♪ >>> cnbc unveiling the inaugural financial adviser 100 list today. it represent as combined 3.3 trillion dollars in asset under management they were ranked using a proprietary methodology developed by cnbc. key criteria included total years in business, average account size coming in at number seven, on this year's list is california financial advisors the firm's principal joins us now. michele, thank you so much for being here with us we spent the majority of our show talking

this diversions continues to widen as a number of investors including blackrock say it is time to goseems to be better mood music coming from what is going on and brexit as well as u.s.-china relations. i wonder when it will converge, if at all. anna: really interesting insight into those markets. let me talk about the brexit narrative, picking up on the point about why is it that the markets are reducing their expectations of no deal? that is what we see on this chart and that is guarding the euro-sterling or euro-pound. we keep hearing politicians talk about taking no deal off the table and there is a difference in time horizon. the markets are focused on the end of october and politicians are talking about taking no deal off entirely forever. it does not seem to be likely. do we end up in some sort of dreadful politico limbo -- political limbo? lisa: we will keep tabs on that. attempt tofect -- deliver your packages in one day decreased -- the spending binge may not be over just yet. levitt us now is brian and for more, we are joined by paulson meany, my cohost on bluebird radio.

larry fink was in there from blackrock. they set the table for fund-raising.money to raise -- neil: he had a little bit of both, he could do? >> he had a lot of both. neil: very interesting. i can't think of anything else. you're right, looking at this now. tad's steakhouse going away. manhattan's last meat honky-tonk. for those who aren't familar, for families that didn't have the money, live like royalty, have a nice steak, very little money. it was sort of -- you had that. went to a show. it was a good day in manhattan. very sad day. more after this. employees need more than just a paycheck. you definitely want to take advantage of all the benefits you can get. 2/3 of employees said that the workplace is an important source for personal savings and protection solutions. the workplace should be a source of financial security. keeping your people happy is what keeps your people. that's financial wellness. put your employees on a path to financial wellness with prudential. but only when i know i'm taking i love one!ng risks. that's why its important to get scr

. >> blackrock's p\e stands out still, but it has a lot of ins indexing >> a lot more diversity, yesmike, thank you >>> health care under increasing scrutiny as presidential candidates and companies grapple with the challenges of an aging population teledoc health is the oldest and largest virtual care company in the united states, serving remote medical care to over 23 million members worldwide. listing on the new york stock exchange in 2015, it was the first virtual health care company to go public and currently serves more than 40% of fortune 500 employers joining us now is their ceo, jason gorevick thank you so much for joining us >> good to see you so this is face timing your doctor for an appointment as opposed to going and immediating to visit them in the flesh >> we do video visits, chat, telephonic interactions all around the world and will do that about 4 million times this year >> how simple is it to initiate those types of appointment for example, can a doctor sign up for an hour, for an afternoon to do some appointments in the same way that someone who owns a car can do

larry fink from blackrock. ken langone. >> for years. >> dick grasso.mp, jr., i see there all the time. neil: is that right? >> they're all at the restaurant. i used to hang out at the bar. neil: you wouldn't chase them down in the middle of link genie? >> when grasso beat spitzer, he was having a celebratory dinner at san pietro, gerard looks at me. okay. i called up my producer, i was cnbc at time. get a camera guy outside. when he walked out we sandbagged him. neil: did the guy ever come back? >> yes he did. >> he blamed me. >> charlie also interviewed -- neil: dimato. >> how are you going to do it? i want to make him an offer he can't refuse. >> i remember that. i caught a lot of guys coming out of their restaurant. neil: sort of considered the italian four seasons, right? that kind of influential crowd. some want to be seen. others don't. how do you handle that? >> what is his name, joseph perllo from morgan stanley at time. he said, at the san pietro was the power lunch of city of new york. neil: what is that does it? you're not cheap. even broker

kate moore is here chief equity strategist at blackrock. dave is joining us, a former u.s.rybody here you're right here. don't tell us the number because we're going to play the game in a little bit. >> it's hidden but -- >> given the various pieces of data we've seen this week, which have not all been great -- >> right. >> -- i think that's a -- >> that's a lovely, kind way to say that >> what are you looking for today? >> without giving you the number >> without giving us the number. >> i'm expecting we're going to have relatively healthy job gains in september we're not going to have as much of a hurricane effect as one might have had in previous years. some of the stuff in gm is not going to have hit this week. while the data we got this week increases the risk of down side, range, consensus that some of us may think. i'm sticking to the fact that the service economy and the labor market is going to be healthy. we still think that the risks of a recession are kind of overblown at this point even with the weaker data we got this week so i don't want to sound too polyana.

he has been adirector since 2009 he is a blackrock senior managing director.riefly served as chairman of caterpillar. he has vast experience in terms of industrial company. many years of experience at ge including a stint running ge aircraft engines for dennis mule lenberg, he will focus on getting the max back in service by the end of the year they are sticking with the guidance to have the 737 max return to service in some countries and some regions by the end of the year. he will be testifying on capitol hill on october 30th before then we will hear from him when boeing reports earnings next week. i want to show you shares of boeing under dennis muilenburg you might look at this and say, that's fantastic look at the blip at the end which is going back to last year when it was well over $400 since then, since the high, guys, the stock has lost about $30 billion in market cap. so that's the kind of hit that the company has taken and still a lot of uncertainty out there regarding the 737 max. >> all right phil, we're going to talk more for more on boeing, let'