it is "bloomberg surveillance," on bloomberg television and bloomberg radio.of will go for just $20. the bank is lowered its forecast for crude once again. we see it in global abundance in growing opec production. it's trimming the 2016 estimate for west texas crude to $45 a barrel. is down from him a projection from $57. it's also slashing its 2016 reproduction from $62 a barrel to 4950. the iran nuclear deal will be formally adopted now that it survived the senate challenge. senate democrats handed president obama major foreign-policy victory as a republican resolution failed to vote short of the 60 needed to disapprove of the deal. in defeat, senate majority leader mitch mcconnell says they might try again. revisitconnell: we will the issue next week and see if folks want to change their mind and give us a chance to remove the procedural roadblock. and give the president what he has been asking for. to keep iran from building atomic weapons will be adopted on october 19. that is what iran must start taking steps to comply. opponents of the deal say they wil

"bloomberg surveillance." on bloomberg radio and bloomberg television worldwide.kend. we need to say thank you for your many notes on this experiment we are doing. the mixed-media of radio and television. the immediacy of what we are doing for some of the smartest people we can find. "bloomberg surveillance" this morning. much about fidelity. learn how innovation and business can create future market trends. all happening at fidelity's traitor summit -- traders summit. an endless guess -- can you explain who our next guest is? mike: we are ending on one of the best. that's the great thing about "bloomberg surveillance." we are not getting any old person to comment on the fed. we are getting people who know where -- peter cooper was at the fed for more than 25 years. he knows. tom: this is a guy who bill -- whenans forward peter cooper and deutsche bank right, bill gross reads. mike: he is cohead of deutsche bank global economic team. he has been watching the fed cycles come and go. going into this meeting, you said they should raise rates. same question i put to b

earlier on bloomberg, we asked the top editor of bloomberg if they were building in alabama because of cheaper wages. >> labor costs here are very competitive. if you make a really strategic decision, it is one of many factors that have to come into the picture before you make a decision. airbus has 20% of the american market and it wants -- 50%. he defeated prime minister tony abbott in a ballot of lawmakers. he had condemned the management obvious chilean economy. apple says the new iphone models are being ordered at a record pace. preorders for the iphone 6 s and s6+ are exceptionally strong. apple is set to go over 10 million in the first week, that breaks the record set by the iphone 6 last year. firefighters are trying to gain the upper hand on a devastating wildfire. dozenses have destroyed of businesses 20 miles north of napa valley. several thousand people have now had to flee homes. the pentagon is having to decide whether to cancel the last of three ships being built by dynamic. the lyndon b debt -- lyndon b. johnson is a world class destroyer. they could run into opposition

of course, you're on bloomberg advantage on bloomberg radio.ing -- disappointing reports from caterpillar. what is the significance that it continues to be a tough time for caterpillar? there are seeing the next leg down. the incremental bad news is the energy markets are rolling. energy prices have been down for had a backlogt they could work out of. that is starting to roll and mining is not turning. incrementally, construction, which had been down, but down a lot less, is not happening at all as north america is rolling in the construction equipment area. so everything is down. we knew this about caterpillar. they told us last quarter this was going on. what has changed so rapidly now? mining peaked three years ago. guest: i think it is an order of magnitude problem. they did not take the big bites. i've been wondering where the goodwill write-off is for peace iris -- p cyrus. carol: their biggest acquisition, right? threw in thek they child. they have been cutting, cutting, cutting slightly. but these are permanent changes. they are basical

coming up on "bloomberg market day." ♪ scarlet: welcome back to "bloomberg market day."ing news, credit squeeze -- credit suisses in a settlement over dark will trading according to people familiar with the matter. few weeks toll a go before we get a number, but the number that is being negotiated right now is 80 million dollars. the fcc and new york attorney general are said to be in discussions with credit suisse. in the meantime, those shares have been down all day and currently are lower by 2%. betty: looks like near the session low. in the auto world a surprise in detroit as the united auto workers union chose fiat chrysler as the target for the contract negotiations. a choice that bucks tradition as they typically choose the strongest company to negotiate with. thelet: fiat chrysler is least profitable of the big three. big question, keith, is why chrysler? keith: this was a sunday surprise. we think that chrysler was chosen that because it is the smallest -- though it is the smallest, a have a number of thorny issues to wear out. -- workout. companies want to cap

"bloomberg surveillance." bloomberg radio and bloomberg television worldwide. a lot going on today.exchange, some of our themes this morning. we look at the equity market. we start on a modestly -- >> goldman sachs chief executive lloyd blankfein disclosing he has lymphoma. he will undergo chemotherapy and his own is is highly curable. goldman shares are down 1.5%. automakers are lower. speculation that volkswagen's admission of cheating may lead industrywide investigation. fiat chrysler down 5%. ford motor's down 2%. the copper and gold producer is part of a transatlantic slump in mining stocks. china is the world's biggest user of raw materials. stake inng its 6.9% the maker of jellies. some stocks moving up in the midst of this market decline. solera holdings higher by 3%. the maker of auto insurance software may attract a second suitor. an offer that exceeds one from the private equity firm business equity partners. -- this debt equity partners. vista equity partners. darden restaurants up 1.5%. a fiscal first-quarter earnings that sales beat analyst estimates. weatherford inter

economics.er of rdq this is bloomberg's "surveillance" on bloomberg television.everyone. we welcome all of you on this fed day. i am tom keene in new york and michael mckee in washington. did you know there is other news going on? i can't believe i'm saying this. this is exciting. morning, tom. markets are mixed. small losses in the u.k., and and u.s.ns .1 port -- field remains above the 100 day moving average. on the economic front, current account balance starts with jobless claims and at 9:45 bloomberg consumer and at 2:00, your fomc rate. tom: good to know it is on the calendar. altice agrees to buy cable television and early talks to acquire. sharesrevenue missed and are lower by 2.8% premarket and they are buying back 4 billion in stock. premarket andn 6% finally, the key wall street upgrades and downgrades -- goldman sachs agreed to by hasbro, touching neutral and deutsche bank raised to buy and ubs cut to neutral and bank of america raised to buy. i am bill malone. tom: thank you so much. greatly appreciate that. live breaking news over your bloomberg ter

bloomberg's "surveillance." ♪ vonnie: this is a bloomberg's ."cis will make history on capitol hill. he will become the first pope to address congress and there is likely to be something for everybody to dislike. april 2 not like his position on abortion and same-sex marriage and conservatives argue over climate change, immigration, poverty and cuba. it is set to begin at 10:00 a.m. eastern. bloomberg radio and television will carry the speech live. china's president will arrive in the capital. he is on his first official visit to the u.s. meterday in seattle, he with warren buffett and jeff bezos and other top american and chinese business leaders. he said china would open up wider to the outside world. >> we will accelerate the legislation process on foreign investment laws. and adopt the pre-establishment national list and put an end to government review of contract and constitutional point investing in the process so that the positive on this will be longer, will be bigger. vonnie: tonight, xi has a private dinner with president obama and be

"bloomberg surveillance." ♪ "bloomberg surveillance." downgrade a wake-up call for the legislature and a wake-up call did look for a massive upgrade cycle. in defense of marissa mayer, restructuring in silicon valley takes gigabytes of patients. good morning, everyone. this is "bloomberg surveillance ." it is thursday, september 10. i am tom keene. joining me, olivia sterns. let's get to our top headlines. bonds after the rating was cut to junk. the president committed a budget showing a major deficit. -- creditade reading rating has been a decline for seven years. it has fallen 30% against the u.s. dollar this year. the worst performing currency in emerging markets u. its worst recession in a quarter-century gray television will now be a front burner project for apple. apple tv with a major focus yesterday. the upgraded set-top box features video games, voice recognition and an app store. tim cook says apps are the next big thing in tv. >> we believe the future of television's apps. this transition has already begun. we are spending mor

this is "bloomberg surveillance" on bloomberg tv and bloomberg radio. ♪ tom: good morning, everyone.usy day with mr. dudley and headlines. they moved the market with yields higher. let us get to david with our morning headlines. david: bill dudley, president of the new york said, expects the rates to rise. comcast making its biggest investment overseas. they will pay $1.5 billion for a majority stake in universal studios japan on which operates if you park in osaka. the ceo says it's the start of the company making more global investments. there are a number of developments in the volkswagen emission tests and a. the w's al unit says to moving cars were involved. germany's regulators have given the until october 7 to have a plan for when it's cars will meet the mission standards. reuters reports that dw has suspended the r&d heads of dw cars, audi, and porsche. job cuts are on the way at whole foods. they will cut 1500 jobs in the next two months. that is less than 2% of its workforce. whole foods expects a significant percentage of those tw who lost their jobs to find other jobs in

this is "bloomberg surveillance" on bloomberg television, bloomberg radio, as well as streaming on youray. ♪ >> markets are quiet this morning. time for a morning pick me up. we turn to brendan greeley. dan: 2.5 million cases of high-end premium irish whiskey. but that is not the whole story. at 500hiskey has grown and 5%. -- 505%. you have been following this for two decades. every whiskey is a story. what is the story you are selling in america? >> we are the leading independent irish whiskey maker. we are within the category that has been a gateway for new consumers to get into. what we are trying to do is do something a little different. brednan: you are trying to say irish whiskey is more than jamison. jack: yes. it has dominated the last 20 years. like any category, people are looking for choice. we are at the early choice of segmentation. people asking what else can irish whiskey be and that is wha will recommend. brednan: you are talking about a distillery that used to be the only independent distillery and island. there are now plans for close to 20 new distilleries. how does t

will have that for you on bloomberg television, bloomberg radio worldwide.happened to be in the ritz carlton lobby last night i have never seen it more crowded, including hurricane sandy. it was jammed because of you and meetings. -- it was jammed because of you .n. meetings.-- u we had a lovely video. it was exciting. we will have family members at madison square garden today, which is cool. mike: the mets, giants, and yankees won last night. the pope came to town. coincidence? tom: james sweeney on the animal spirit of the economy. what does nominal gdp mean? talking about getting tossed the ugly average. we have got to get back to a better spirit. one quarter does not make a moment. nominal gdp has been running at a study 3.8%. tom: not good. is falling unemployment and a dollar that is cheap, the bearish argument is the unemployment rate stops falling and interstates going up. now we have a stronger. . dollar that will slow. i think it might slow. tom: where is the ambiguity? james: households did not have great cash flow for a long time. there is a qual

still the, on "bloomberg market day." get how wall street's confusion could pose a big problem for the markets. ♪ . . olivia: good morning, welcome back to the "bloomberg market day." i'm olivia sterns. let's get a check where u.s. equities are trading. i head over to julie hyman resources from the newsroom. julie: after the university of michigan confidence report that showed the lowest reading for confidence in about a year. that after we saw slumping global markets in the month of august. now it's continuing to some degree here in september. that cause a little bit of a selloff in the major average. they were already down, and then again taking another leg lower, weighing on the major averages what's going on with oil. you were talking about it was stephen schork. if you look at my bloomberg terminal to get a feel for the effect, these the top movers in the s&p 500, both on the upside in green and the downside in yellow. by my count, all 10 of the worst performers in the s&p are indeed energy stocks. as we see that oil

all that and more, coming up on bloomberg market day. ♪ mark: welcome back to bloomberg market day.want to check in again with a look at the markets. micro, notablee movers. >> casinos are selling off for a second straight day, particular , ase with business in macau junket operators said that business is so bad that it might not continue operating in the gaming industry if the industry does not correct itself. the chinese government has clamped down on corruption. a lot of concern about what this means for the companies that operate there. also watching the volatility everywhere, particularly in technology. apple shares took an unexplained leg downwards. some speculation that it had to do with google, presenting its next generation of phones. other updates to comcast, streaming service, so google shares are also down. apple off by 2%. a big introduction for from ld beverages system green mountain coffee. it is competing with soda stream. green mountain shares are down forecast fortting its beverage pods. bank of america, the company is cutting dozens of jobs across trading and bank

new summaries of the day from the bloomberg terminal. a measure with the economy may look like in three to six months rose slightly in august. the leading index was up 1/10 of 1%. it has 10 components, including building permits, stock prices, and average weekly hours. a prominent goldman sachs executive says do not focus too much on increases in interest rates. they said rates would have to move too much higher before major concern about equities. i would say that many investors have been making too much of it, quite frankly late this increase, whenever it comes, would have already been widely telegraphed rate what we need to think about is whether that are long-term opportunities in the financial markets. the fed wants to make sure that average americans feel better than they do now. the u.s. banking system is much safer than it was. he spoke this morning saying that banks have more capital and are much more diversified than they used to be. but he is concerned about what happens when the economy worsens. >> what happens when you have

bloomberg television and bloomberg radio.and they bring on a closing 22.28. to 15., 12, up we have come all the way back near the two decade average of 22.2 on the vix. the opening bell brought to you by sei. imagine your asset management arm's a infrastructure as competitive advantage, let us show you how. we thank them for their support. no print on the vix yet. is not worried about the traffic this week. the traffic in philadelphia or washington. david: i will deal with it on a train a little bit. tom: what is the traffic on the equity markets this morning? david: chips. this is all chips. absolutely. products, other the internet of things, as they call it, up 13.5% at the moment. semiconductor, talking cash and stock at $14.6 billion, or $10 per share. electronics discussed about e: 50 per share according to people familiar with the matter. we will see if this is a one and done kind of situation or if there is a counter bid. fiat chrysler is down 1.6%. wages for all the automakers members will rise under a four-year contr

you will see it on bloomberg television, on bloomberg radio, 6:00 p.m.illance prime time this wednesday. we have had a huge response. michael mckee and myself with ray dalio. 6:00 p.m. this coming wednesday. here is brendan greeley. brendan: european officials are trying to reach a deal with a surging flood of refugees. european union wants to impose binding quotas, redistributing refugees to ports in hungary, greece, and italy. donald trump has lashed out against carly fiorina, this time going after the business record of his fellow republican presidential candidate. he spoke on "face the nation." trump: hewlett-packard was a disaster, lucent was a disaster. these were two disastrous reigns and now she is running for president. least 12in egypt, at people were killed when security forces mistakenly opened fire on a group of mexican tourists. the attack happened in egypt's southwestern destert. a tourist convoy had wandered into a strict it area -- into a restricted area. int chrysler was targeted negotiating a new labor contract. in sunday night footbal

on the bloomberg terminal, there is a bloomberg social media monitor. out a couple of movers, a netflix -- netflix is one that is rising. microsoft, fitbit. let's move through eight few to show you the mentioned -- let's move the review to show you the mentions on social media. in terms of what is going on with the media companies -- microsoft, they are expanding service to include purchases on amazon.com and microsoft. you can see that these are on the rise together as we continue to see the media partnerships, content partnerships in particular, a new way for them to get content out there. disney has had a pullback on concerns over the old versus new media models. disney is getting its content new were media models. investors are viewing that as a positive move. it is another one that you saw on the social media monitor. the stock is rising to over weight saying that it is holding its own against the apple watch. witht has minimal overlap the apple product line thus far according to analysts. a big increase, in part because we saw high short interest

bloomberg market day continues in a moment. ♪ mark: welcome back to bloomberg market day.'m mark crumpton here with scarlet fu. a check ont's get the stock market. it looks like nine out of 10 industry groups are down with utilities bucking the trend. ramy: we are keeping a look on the markets today and china industrial output came in weaker than expected over the weekend. investors are cautious as we head into the september fed meeting, even though analysts think the possibility of the rate rising is falling. the dow jones is down by about .4%. looking at my bloomberg terminal, let's check the performance of the s&p's 10 sectors. materials and energy stocks are the biggest laggards and have then the entire day because of the weaker than expected china data. utilities have then in the grain for the entire day. stocks, they are falling today. nucorteel, ak steel and are all down and china is the reason. chinese steel out put rose in august up 1.7%. this is according to data from the national bureau of statistics and despite a government ordered shut down even as the world d

>> this is "bloomberg surveillance." x this morning, the fed is on -- this everyone who is at home listening to us today on this .oliday, here is the trade markets have turned south. the dow is down by 19 points. higher during much of the futures trading hours. in europe, they have turned south as well. by .4%.x 600 is off the british over the weekend, the labour party putting jeremy corban in as their leader. looking forft and radical economic changes there. the dax in germany is 15 points lower now, just under .2%. everybody watching the dollar. the dollar index is lower this morning by just .1%. the u.s. trade weighted dollar is something we need to teac kep an eye on. the five-year going for 1.5 percent once you rounded off. the two-year is at 71 basis points. topping the list of things we're watching today, volatility. the vix fell. volatility lower this morning despite the fed ahead. congress is back trying to find a way not to shut down the government in two weeks. last shutdown hit the economy hard. china, more w

we say good morning on bloomberg television and bloomberg radio.as you look at washington, and as moderates try to figure out where they are going whether democrat or republican, is there that we that wee-party, find a new calculus of party five years out -- four years out, eight years out, 12 years out? >> we actually think about things in a cyclical time frame. it's very unlikely. there is certainly an anti-incumbent, anti-d.c. attitude. you see that in who is pulling first in the gop. tom: jeb bush is not doing very well. >> that's sort of surprising. the most interesting rumor i recently heard was that bloomberg could be an interesting candidate. tom: who? michael bloomberg is founder and owner of bloomberg lp and also this radio station. >> you did that so beautifully. there is obviously an appetite for something that is not the status quo in washington. whether that means a third-party candidate is viable at this point even over the next four years or eight years seems quite unlikely. michael: we were excited about ross perot. but whatit's un

we will have coverage all day on bloomberg television and bloomberg radio. i can say to all of you worldwide, please make a visit to lower manhattan. the drama there, and the improvement in the architecture, the new architecture, in the last two years has been extraordinary. let's go to top headlines with david gora. -- thewe could see forecast for crude has been lowered once again. goldman is trimming a 2016 estimate for a west texas crude to $45 a barrel. that is down from the may projection of $57. it is also slashing its brent crude prediction. the iran nuclear deal will be formally adopted the next month now that it has survived a congressional challenge. send the democrats and the president obama a major foreign-policy victory. republicans were two votes short of what they needed to pass a resolution of disapproval. worldple around the should know that today's outcome was clear, decisive, and final. there is no doubt that the congress will allow this historic agreement to go forward. efforts by the opponents were soundly rejected, much larger than peop

mark: welcome back to the bloomberg market day.ty: the commodity meltdown continues. oil extending its weekly decline amid the global supply glut. its: goldman sachs cuts price forecast saying it could go below $20 in the near term. we are also talking about the -- the only missed that by eight dollars a barrel. let's take these long-term forecasts for what they are. let's focus on what we know right now. everyone wants to talk about supply. it has been ugly in the u.s. oil patch. there have been more than 70,000 tax cuts this year alone. when the banks get done with the re-determinations and the credit line dries up, it's ugly now, it murderous next year. we are looking at a significant cut down in production. the u.s. does not export crude oil. no, we focus on opec. talking about saudi arabia. saudi arabia has little incentive to cut back production. mainly because of iran. now that the deal will go forward, we are going to start to see iranian barrel sit the market. saudi will not see market share to iran. they will not finance

he broke the news right here on bloomberg to test bloomberg.tin king been named as vice-chairman of his company. they also discussed the investment climate in today's global markets. investmentdifficult landscape, probably the most difficult in my lifetime. what that means is in terms of private equity, there are opportunities, quite short term. you really have to grab them and be able to execute them very quickly. he is looking to kickstart in the tmi takeover bid. --e big higher the: meanwhile in pharmaceutical industry, a $27 billion hostile takeover next week. executives of the over-the-counter drug maker -- shareholders to accept it. uber's rival in china has raised nearly 3 -- another round of financing according to people familiar with the matter. uber says it has raised $1.2 million so far. they announced they would give away $161 million worth -- against other players in the industry. those are your top stories. i will leave it with you. pimm will split now and i will stay with you. we will hear from the ceo next. ♪ matt: i am matt mil

radio and bloomberg bloomberg televisi for complete coverage of the fed chairs speech at 5:00 p.m.tern tonight. if you are not near a radio or television but you have a computer, it will beyond bloomberg.com. still ahead, we will get you caught up on what is happening in markets around the world. stay with us for global look at stocks. ♪ matt: welcome back. one hour into the market date and we went to give you a look at some of the top stories we are following. first-time claims for unemployment benefits rose less than expected last week. the weekly number was up 3000. aything under 300 is seen as sign of an improvement in the jobs market. a new poll shows that most americans agree with the theme of donald trump's campaign. the bloomberg politics poll finds it 72% of those surveyed think the u.s. is not as great as it once was and it also says americans are fed up with politics and suspect the wealthy have an unfair edge and take the country has gone in the wrong direction. fell 2% durable goods last month, less than expected. a strong dollar and china's economic slowdown has hurt

tom: "bloomberg surveillance a great start to." -- a great start to "bloomberg surveillance." michael mckee, thank you so much. we launch a twitter question today, a very john lipsky-like twitter question. should janet yellen be the central banker to the world? wasn't that a conversation yesterday? stay with us. worldwide, "bloomberg surveillance." ♪ tom: it was 2:00 a.m. yesterday in hong kong. they noted a fed meeting of import this morning. hong kong and the rest of the world recalibrate and adjusts to what we see off of the fed meeting. our theme today at "bloomberg surveillance." here are top headlines with vonnie quinn. vonnie: the vatican is not happy with the white house guest list for pope francis' welcome ceremony wednesday. the white house has invited a transgender activist, a gay the vatican, and worries that the pope's photos with those guests could be seen as an endorsement. the search for an offshore tax chief -- the federal judge says there is a john doe summons on two u.s. banks. that indicates the suspects made -- americans may be using it to dodge taxes. the

right, still ahead on "bloomberg market day."a, yout to go to maybe surprised if you have to go through to get business done. we will find out next. "bloomberg market day." was go to asia. there was a rally across the board. in china it is rising 1.4%. the shanghai composite finished up under .5%. one big story out of the region, china is announcing its latest to worrying up sagging automobile sales which have fallen for five months. david ingles has the details from hong kong. to/salesina decided production cost. have engines smaller than 1.6 liters will restock with a 5% stack. relatively -- it is a relatively small cut, but it should go a long way. are usually more sensible. now, investors are obviously loving you. it is good news for the industry. we are not sure about the traffic situation. deals have not been looking good for the past three months. it is good news for buyers. action goes into effect october 1. pimm: thank you. let's head to europe were mark barton, bloomberg is stating by. quarterocks ended the on a high, b

"bloomberg surveillance." ♪ announcer: this is bloomberg "surveillance."iders its mediocre. the u.s. two-year signals inflation abroad and disinflation in america. obama and britain have -- obama and putin have spoken. we speak to ian bremmer. the state of abenomics. space thister abe morning at bloomberg headquarters. in new york. tuesday, september 29. i am tom keene. joining me, michael mckee and david gura. remember when business insider first came out, we were going what is henry doing? he was ab to sell 88% of the to axel springer. there was an original quote based on 100%. is gong to keep the remaining 12% of shares. henry blodget selling to axel springer. working,weisenthal, what did he make come of thousand $700 his first year f for$14,700 his first year henry. ith him, went to lunch he haas the oy meal they started this on a shoestring whatid henry blodgeto? michael: he took the idea of aggregating the news. find the stories on various platforms, rewritthem and put a catchy had line on them. tom: henry blodget a all of your investors, congratulat

this is bloomberg radio and bloomberg television.y outside the white house on the south lawn. president obama standing next to the pontiff as we hear both the national anthem and the national anthem of the holy see. the pope making that drive down massachusetts avenue. there will be none of the usual military customs associated with a state visit. we will see that when the chinese president comes to the white house. here we have the president and the pope listening to national anthems outside of the white house. ♪ david: listening to the marine band on the south lawn of the white house. this is a busy trip for the pope. his first visit to the united states. he will go from here to philadelphia and new york. the afternoon, a mass at basilica of the national shrine of the immaculate conception in washington, d.c. the biggest roman catholic church in north america. beckett started at 4:15. a ceremony on the south lawn of the white house. we are expecting remarks from the president and the pope. ♪ [applause] >> troops in review. ♪ david:

mark: this is the bloomberg marketing. u.s.back-and-forth as investors turned their invention that turned their attention to next week's meeting. betty: could the price of crude oil fall as low as two dollars a barrel? mark: we will talk with mike turner of ohio about what is next for the iranian nuclear agreement. the republican-led house has just gone on record in its vote against it. betty: good afternoon. mark: welcome back. let's begin with a look at the markets at this moment in time on this friday, september 11. stocks erasing earlier losses. s&p on its best -- on track towards best week since july.

"bloomberg surveillance." tom: there are two ways to measure copper. one is out of london, what in his out of -- one is out of chicago. 232. descends, an important industrial metal, as we see out of china. here is vonnie quinn. vonnie: the latest batch of hillary clinton e-mails shows she and her staff were wary of security issues. more than 7000 more pages of e-mails were released. many are concerned with protecting sensitive information. more than 2500 were withheld because they are now considered classified. many are being reviewed because she used a private server instead of the government system. samsung has come out of the challenge to the apple watch. it will allow for smart car keys devices.e control home users will also be up to send text messages from their wrists. and marissa mayer is expected twin girls. she wrote on her blog that they are expected to arrive in december. just as she did with her son three years ago, she will take limited time off and work throughout. u.s. automakers will reveal a s

bloomberg consumer index was unchanged.ing about climate were offset by more optimistic attitudes than personal finances. they have been under 300,000 for the six months. a low-level economist would associate with a robust job market. many opponents of legalization --coming up here on the bloomberg market day, market overseas. stocks took a hit because of concerns about china passes economic growth and also the potential for a federal reserve interest increase. we will look at the details in europe and asia. how much will declining oil production actually increase oil prices? with robert, who manages over $15 billion in holdings. now, for a major acquisition in the transport images ticks industry. ask po has agreed to by the trucking operator conway in an all cash agreement, bringing the number of deals under brad jacobs to at least 14. before ask po, jacobs used a similar strategy, buying company to build rentals and united way systems into market leaders. he joins me now. off with conway. how did you get interested? >> it

this is the "bloomberg market day."ight rally in chinese shares. >> is a dubious distinction for harvard universities and down. they are the highest paid, yet the endowment at the worst performance of any ivy league school endowment in 2013. mark: volatility in the global market is in stopping the ceo of under armour. we hear why he has laying offense with the biggest pension in china. ♪ mark: good day from bloomberg headquarters in new york. i am mark crumpton with pimm fox. it looks like the shanghai composite was the rising tide that listed all the boats. pimm: the s&p 500 is higher than more than

right on bloomberg television.nce of the digital age is people are using far less paper. growth in paper consumption dropped 80% in seven years. tosee companies that used make paper turning out material for other products. more on joins me for that. it is now going to things like ketchup? >> it is food. you are going with a plant-based -- plant-based commodity. a variety of cardboard boxes and so on. also, we know this is a material.d for example, pine needles, typically found in the northern hemisphere such as finland. plant spindles, used to help cholesterol. a variety of uses, as you mentioned, trying to get into ketchup and consumer products, because the idea that they will use more paper is not helping. what else are they expanding into? medical products. the coatings for various pills and various medications. also, you can use them for a variety of lubricants, industrial uses. and mill used sawdust houses for energy for a long time. this may spur that development even more. they need to pivot in order to surv

bloomberg "market day." . crumpton in new york recapping a story we told you about at the top of the hour, a professor confirmed dead after a shooting at delta state university in cleveland, mississippi. the school remains on the down and authorities are searching for an active shooter in what is looks person describes as quote an active situation. the university is located in the delta region near the arkansas border. more details on this story as soon as we get them. the job of cleaning up international star -- soccer is far from over according to attorney general loretta lynch. she joined her swiss counterpart organization.fifa remainsnvestigation active and is ongoing, and has in fact expanded since may. as i made clear in the original announcement, the scope of the investigation is not limited, and we are following the evidence where it leads. i am grateful for the sick get cooperation and sits dental evidence we have received from all quarters. based on that operation and new evidence, we do purse -- ant

pimm: we have much more coming up on the bloomberg market day. ♪ pimm: this is the bloomberg market day pimm fox. let's take a look at the top stories. pushingays it is forward with its spinoff in the stake in alibaba. the spinoff is valued at about $22 billion. that is making investors nervous that still who could be hit with a large tax bill. the irs won't rule on the transaction in advance. turning to amazon, they want to be part of detroit's economic rebirth. the company plans to create and hub in detroit. there will be a new corporate office park in detroit. thecity is emerging from egg is bankruptcy filing ever. and japan's prime minister is in new york. he is talking about the plan to kickstart japan's economy. japan has lost all of this year's gain and more. the prime minister spoke more at a forum here in new york. he said the boost in confidence is a building block of the plan. >> we must let the governance .ystem make a difference i can tell you now, we are going to build a new system whereby members other board .hould be transparent transparency and accountability. the popul

bill clinton addressed these questions head with bloombergs betty liu. betty: i want to get to some of the commitments you are excited to talk about today, that i also want to talk about some of the topics that have overshadowed some of the good work that cgi has done. you have something like 200,000 plus sponsors that have supported cgi since 2001. a few of them have begun to reassess their sponsorship of the clinton global initiative. exxon mobil said they will not sponsor you this year. is this because of the funding controversy? mr. clinton: i think they don't want to be involved in politics. they don't think we were ever political. there has never been a foundation with a more prominent political person involved. i have had george and laura bush here, mitt romney, john mccain and sarah palin came. rupert murdoch and his son and his foundation giving money to us along with mayor bloomberg. we just solve problems. there are people who just don't like bad press, and you cannot be involved in american politics without somebody attacking you, and i think

we thank all of you for joining us on bloomberg television and bloomberg radio.rles. we are thrilled that you are here. it is perfect timing. is there enough of a global mess to imply future stronger dollar, which gives janet yellen cover to delay? is that the deciding point for chair yellen tomorrow at 2:00 p.m. >> the fed has not been in the driving seat for a long time. you are right that the weak global growth almost anywhere outside the u.s. economy does the u.s. dollars going further and further up. the future of fed interest rates would be determined by that causinghan fed action inflows into the u.s. economy and affecting the dollar. michael: if the fed is not in the drivers seat, who is? ?he market if that is the case, what do you have a central bank for? diana: we live in a global world that is fairly integrated. desire to time, the save excessively in the big , china, japan, and northern europe, has been the pushing down globally. in some ways even before the financial crisis in the u.s., to refuse all this money flooding in. tom: mike, i want to go to

come inside the bloomberg terminal. you can see we are just off our session lows right now, still clinging onto gains. look at it over three days and you can see how we open higher and have been coming down to the unchanged line where we were yesterday. this is on the heels of a big gain yesterday and a decline on friday before the long weekend. pimm: taking a look at the chinese stock market, one the that she called the selloff and is calling for a rebound of about 4.5%. there are many companies in china are attracting what you might ascribe as value investors and you may be familiar with .his company this is a liquor company, down about 20% since june. it has been around the 17th century. scarlet: my guess is a value play in china is a little different in a value play in the states. pimm: let's look at oil and copper. 1.25%.rude, down about crude in europe following a decline and copper futures basically unchanged. risk on appetite still seems to be going on when it comes to treasuries because you have yields heileman

alix: this is the bloomberg market day.ooking at a live shot of president obama speaking at a town hall with service members at fort meade on the 14th anniversary of the 9/11 attacks. today nearrlier ground zero, victim families read the names of those killed when the towers collapsed. remembrances are also taking place at the pentagon. the attacks on 9/11 killed almost 3000 people. good afternoon. alix: we do want to take a look at the markets at this hour. a pretty uneventful day across the board. the dow at 50 points, move on. scarlet: though they are higher for the week. but if you just look at this week, we are up. still positive for the year. alix:

still ahead on the bloomberg "market day." we are staying on the market while almost all the stocks in negative territory. betty: we will look at the stocks moving the most after the break. alix: welcome back to the bloomberg "market day." i'm alix steel. the dow is down as session lows. we will go to matt miller with a look at the markets and some of the best and worst performers of the day. 3.50 we're moving down to on the dow. 16,177 right now. .30. right now we're 60 points away from the august lows. theously, a 2% drop across board. it does not help on the first day of the month, which is typically up, if you will recall from my analysis on the seasonal moves. in september, we are typically 3.08% on average. today, we are 2% down. let's look at some of the big movers. interestingis an one. it was taking off this morning after an analyst at raymond james raised his rating on the stock and put a price target of $400 on it. a 33% gain is what raymond james think you will ask deked out of biogen idec. on a down day, it does n

we debate that next on the bloomberg market day. ♪ alix: looking back to the bloomberg market day.ars stocks have stabilized for now-ish. the dow is off the lows of the session. the real story that has led markets lower has been oil. it seemed to be in freefall over the last four or five hours, down over 7%. that was really waiting on the s&p energy sector. r ofust heard jurrien timme fidelity talking about that. there is a lot that needs to happen if the slide in oil is not a one order event and that will bleed into -- one quarter event in that will bleed into estimates. that is what you are seeing revisions. at top stories crossing the terminal at this hour. in kentucky at county clerk is to find the supreme court over same-sex marriages. kim davis is refusing to issue licenses for same-sex marriages despite a ruling from the high court last night. davis says she is acting "under god's authority." record for the video music awards sunday night. it was the most tweeted nonsports program sends september 2011 when nielsen began tracking twitter activity. 27.7 millionn tweets. only t

-- bloomberg market day.here we left off in august, sharp losses. i want to go to matt miller with context on the s&p. matt: we are looking at the first day of trading for the month after the worst month we have seen in five years as some cases like with the dow jones industrial average. august was the worst month for the dow in 17 years. you some of the stocks that we saw on the green side of the ledger before the stock slide continued. it is interesting that we see a number of energy names there, even as oil comes down 5% this morning. -- the bestumbers days for oil before that in 25 years. right now, we are seeing chesapeake gaining. it is small, but still a gain. it is interesting to see a stock like this putting up green arrows. $87.77 a share. fiat was down, 495 stocks on the s&p 500 are down, but ford is showing again today. story here is that investors have lost faith in f-150 production. we were seeing drops of 10% month after month for the f-150. the company said wait until we get production right,

that is only on bloomberg., fantastic couple of guys, well, one of them is ok and the other is very smart. back to the bloomberg "market day." i am matt miller. no doubt the housing market is seeing a recovery and the spring buying season has been extended. according to the bank mortgage association, they continue to rise in purchase and refinancing applications while they jump. how might the fed decision impact the mortgage market? a question we hear a lot. matt, the president of united short financial, he joins us to talk about that. we do hear a lot this question, what will it do to the mortgage market? what is a 12.5 basis point increase?due to mortgages anything? matt: they are prepared for it based on what the fed comes out with and we will see how it shakes out, i can predict what they will do. matt: let's assume -- it does not look like they are going to, but let's assume they do raise rates for the sake of argument. that holds back people from buying homes or push them further into it? it will hold thi

that will be on bloomberg television and bloomberg radio. bloombergd on the market day, what with the world's largest software enterprise conference be without a cruise ship or musical ?ensation, the foo fighters we will tell you, next. ♪ matt: welcome back to the bloomberg market day. i matt miller. pimm: i'm pimm fox. let's go to julie hyman who is taking a look at what's happening in the markets right now. not too much action ahead of the federal reserve announcement. julie: the overall averages remain little changed as people wait for the fed. we do have a big deal to talk about. you mentioned it earlier and i wanted to get another check and talk about it. ice agreeing to buy cablevision. inlevision shares are rising the u.s. by 15%. quite to the acquisition price, but close to that level. we are seeing some other cable providers on the rise, other pay-tv providers. time warner cable, charter tradingations have been higher. i have been talking to alex sherman about this and he pointed me on the bloomberg terminal to a price we have been

mark: "bloomberg market day." this is the "bloomberg market day." .our out ahead of the fed's betty: meeting. of .8ty: the rate hike percentages. mark: thousands refugees are stranded is hungry seals off its border with serbia. get the latest on the crisis with the eu commissioner for migration. betty: good afternoon. i betty liu. mark: i am mark crumpton. thanks for joining us on "bloomberg market day." up, the leading index -- the dow industrial is up over 1%. the two-day fed meeting begins this week and lots of people want to know -- is the fed going to move on interest rates? .8%.&p is up that sector being led higher today by energy and telecommunications. matt miller was telling us about that just a moment ago. the s&p energy index is up .8%. let's move on to the close of oil and goal. -- gold. it was an interesting ride with been having the last couple of weeks. the nymex crude is up 1.7% right now at 44.76. brent crude is up .1%. that spread between denny ti and brent is the nearest we have seen in a while. gold futures are down .4%. and $.90.n

good day, from world bloomberg -- bloomberg world headquarters in new york.you're long equities today. this

"bloomberg surveillance peter: tom keene and michael --"bloomberg surveillance." keene and michael mckee. michael: the new ceo of yours airlines, taking over for jeff ek, who resigned yesterday. here is a story from "the wall street journal." michael: it is going to be a tough job. joining us now, airline analyst george ferguson on the phone. that is a very tough, long-to-do list. what does he have to do first? the merger has not worked very well so far, so it is going to be a priority. the interesting thing, though, he he really has no experience running airline -- running airline. he has to run the network and figure out what is going on and figure out what direction to take the company. theael: do we have any idea scandal that forced smisek to leave, what that will do to the company? george: so far there are no financial implications, but the investigation is ongoing. we are all trying to figure out if there will be some sort of financial cost to this investigation, but right now it does not seem so. tom: is there a best practice model for united airlines? is t

matt miller bloomberg -- of bloomberg. the u.s. which work is stubbornly slow. there are careers that are hiking pay by as much as 10%. these include business systems analysts, secure the officers, sales consultants, pharmacy technicians, and even baristas. mark crumpton, who is joining me in the next hour, has more. mark: and his last days today because i'm going to become a very stuff -- i'm going to become a barista. were u.s. shocked as i was? sales consultants, security officer, business systems analyst. betty: where is the engineer? this also brings to the for the minimum wage debate. it makes you wonder what these folks are getting paid, ista -- ay with a bar lot of them work in the copy shops and they have got to be at some point making a livable wage to be on this chart, which shows careers that have the highest wage growth. i don't know if this is a trend, do you? betty: who knows? it is a good trend. the fact that people are good at least for the economy and for the larger public that you are seeing is some wage growth.

president and cgi founder bill clinton addressed these questions head with bloomberg's betty liu.etty: i want to get to some of the commitments you are excited to talk about today, but i also want to talk about some of the topics that have overshadowed some of the good work that cgi has done. mr. clinton: have at it. betty: you have something like 200,000 plus sponsors that have supported cgi since 2001. a few of them have begun to reassess their sponsorship of the clinton global initiative. exxon mobil said they will not sponsor cgi this year. is this because of the funding controversy? mr. clinton: i think they don't want to be involved in politics. they don't think we were ever political. there has never been a foundation with a more prominent political person involved. i have had george and laura bush here, mitt romney, john mccain, and sarah palin came. rupert murdoch and his son and his foundation have given money to us, along with mayor bloomberg. we just solve problems. there are people who just don't like bad press, and you cannot be involved in modern american politics w