welcome to bloomberg markets. we are joined by our bloomberg and bnn bloomberg audiences.are the top stories we are following from around the world. amd agrees to buy xilinx in an all stock deal, breaking into the possible market for data center computer components. senators depart capitol hill. a pre-election stimulus deal looks to be near impossible as the senate adjourned until after the election. we will talk about that and the outlook for foreign policy with lauren baer. insight into the luxury hotel industry. we will hear from the mandarin oriental ceo about business and leisure travel. how the pandemic has weighed on the company. amanda: we are keeping our eyes on the markets. some groups in the s&p 500 are decidedly mixed. tech is one bright spot, seeing a little bit of strength. much of that can be attributed to the deal in the chip space. snp back in positive territory, was negative today, but along with tech it is utilities and consumer facing groups higher. industrials a drag on the market today. i want to dig into this deal. intel moving lower, which may signa

this is bloomberg. ♪ francine: this is bloomberg surveillance. pandemic is front and center once again. johnson & johnson temporarily halting its vaccine study after a clinical trial participant explained -- experienced an unexplained illness. in the u.k., boris johnson has closed bars and pubs in the worst hit areas of the country. his top health advisor said it won't be enough. joining us now is paul hunter. thank you so much for joining us. the second in three or four months halting a trial. is this part and parcel of how these trials work? >> it is part and parcel. including the very , ise numbers of people likely some of them will get ill . some reasons may be associated with vaccines, but most likely it's one of those things caused by something else. what you have to do is every time you get one of these severe really work out whether or not it was because of the vaccine or with something else. and whether that has implications more widely. this is something that happens many times in a lot of vaccine studies. we should not be too concerned

this is bloomberg. ♪ francine: this is bloomberg surveillance.'m francine lacqua in london. stimulus talks remain deadlocked in washington. president trump and house speaker nancy pelosi blaming each other over the lack of progress. the president has sent shifting signals on the amount of stimulus he wants. while pelosi calls their first offer grossly inadequate. >> she thinks she can influence the election and i think they are hurting themselves by not doing it. traders may come around to the idea alert -- the election one ended fireworks. in fireworks. >> some we've heard around the election is the biggest risk is that the election is uncontested. lead in widening his the u.s. polls prayed the volatility sector has started to come down. this is the volatility curve on the vix. this is just from one trading day ago. the entirety of the curve this measures options further out and this is been brought down with volatility starting at price cheaper. this is the election right here, you can see this peak in the curve of volatility expectations. it i

this is bloomberg. ♪ e? this is bloomberg. ♪ annmarie: you are watching "bloomberg surveillance."nmarie hordern, in for francine lacqua, here in the city of london. the u.s. has seen record turnout so far. more than 49 million people have cast their ballot so far. the majority are registered democrats, but has been far from progress, andard our bloomberg reporter, jennifer , joins us now. jennifer: the candidates are losing time to actually make cases where the voters. the president is going to be one of those early in person voters on saturday in florida, but in terms of turnout, what we are seeing is already 35% of total votes counted from the 2016 election, with 11 days to go, and we are seeing record turnout in the battleground states, notably in georgia, which saw a100 42% increase from the same -- saw a 142% increase from the same period in 2016. as you mentioned, there are more issues that various voters are facing in states. annmarie: what are the issues these voters are experiencing? jennifer: one of the biggest things that i think a lot of people have been noticing are t

this is bloomberg. ♪ bloomberg. ♪ is "bloomberg markets." vonnie quinn hummel -- alongside amanda lange in toronto. it is not typical for the general public to receive so much information on the development of a new vaccine according to lauren sauer. she spoke with francine lacqua about the difficulty of consume -- of communicating the process and the risk to a shot. have a listen. >> it is a good thing we are seeing this process play out the way we want to -- wanted to. i don't think we want to get to the end of this process and have a series of therapeutics and vaccines that have seen no adverse events, because it means our threshold for of what those adverse events are is not strong enough. what we are seeing is the process in place playing out the way it should to ensure that when we get to the end, we know we have a safe and effective product that we can distribute to americans. francine: what is the communication needed around that? you were talking to me in the break saying, we have never really followed these trials so closely. who i

this is bloomberg.> we want to help the airline industry. we have legislation in the cares will continueope for another six months or so. that expires the end of september. , butuld do this separately we cannot do it unless there's a big bill. it needs to be a part of the big bill or it could be separate from a timing standpoint. house speaker nancy pelosi talking to david westin. and this is as markets are focusing on the possible stimulus package from the u.s.. we also have a headline from spain, the spanish prime minister saying he will declare a state of emergency in madrid. this is one of the local tv stations carrying this. and this is significant, possibly one of the only ways that spain can put restrictions in place. we broke the headline yesterday that a judge ruled that the travel restrictions in and out tocities might be necessary fight the spread of coronavirus but under the current framework they were violating fundamental rights. dealing with to get around it was for the spanish prime mini

this is bloomberg. ♪ ♪ francine: this is "bloomberg surveillance."ancine lacqua here in london. now, the u.k. is prepared to water down its brexit legislation. they could dilute the controversial bill to revive failing talks with the eu. earlier in the week, johnson the u.k. was prepared to leave the eu without a single deal. let's get the latest with our exit editor edward evans. ed, great to get you want to try to understand exactly what is going on. they backlks on, are off, what is going on? edward: they could certainly be back on. now we are in a holding pattern. boris johnson said he should prepare for no deal brexit at pigot of the year, but crucially did leave the door open for further talks for a fundamental change of approach. what does that mean? one, the european union wants to continue the talks. two, that the eu would be prepared to compromise, and again, significantly on friday, angela merkel set up a summit with eu leaders that you should be ready to compromise, and, three, that both sides be willing to work on a legal text. it is qui

this is bloomberg. tom: thanks so much. equities, bonds, currencies, commodities. we will do data checks throughout the day as the markets move, not so much in equities. futures at negative eight, dow futures -62. the vix, 30.44. that does get my attention. it is in bonds that you have news, and it is real simple. an adjustment .83 was seen earlier. .8214, we're watching it carefully. the price move has been 1.8% lower price in the 10 year yield since the peaks of a number of months ago. i will leave it there. i know anna has got so much more. just simply, dollar weaker. you: dollar weaker, and answered that interesting news about the pound. moving againstso the euro, so the recent -- as well as the dollar weakness story, the light was being used by the chief negotiator for the e.u. around brexit looks to be pushing on the right buttons to unlock further negotiation. thisean stocks falling hour. down by 1.2% as we cling to all the latest news lines around stimulus. thekson up by 6.7% in telecom equipmen

this is bloomberg. ♪ oomberg. ♪ francine: this is "bloomberg surveillance."ancine lacqua here in london. now, let's get straight to the bloomberg business flash, here's leigh-ann gerrans. hi, leigh-ann. leigh-ann: hi, francine. aftery major acquisitions a rebuke with its risk control. officials are also reversing the right to acquire changes in senior management if the company does not act quickly to address the shortcomings. chevron has overtaken exxon mobil as the largest u.s. oil company by market value. it is the first on the texas giant has been there thrown -- b een dethroned. they are both behind next era. the biggest producer behind wind and solar power is the biggest utility. the pandemic is wreaking havoc on the budget carriers' summit schedule. they apply about a quarter of the its typical capacity during its final three months of the year. it is calling on the government to step in with even more aid. and more restrictions on jack ma as well as tencent. sources tell bloomberg that is over concerns of a digital payment, threatening national securit

in london, and this is bloomberg. ♪ ♪ leigh-ann: this is "bloomberg surveillance."leigh-ann gerrans with the bloomberg business flash. liver has learned that -- the company has a market value of about $8.7 billion. kendo to looking for a big bet on shale in the midst of a historic downturn in the oil industry. you will not be seeing massive crowds on black at walmart. number of customers will be limited inside it stores to just 20% of usual capacity. other changes include sender carts.- sanitized business chiefs are calling on -- government to rescue the a billion dollar bailout after the coronavirus pandemic led to a collapse at travel. that is your bloomberg business flash. francine? francine: thank you so much, francine. a lot of the focus is on brexit negotiations because we had that self-imposed deadline, on october 15, tomorrow. it seems from boris johnson step aside, they may decide to extend or at least not leave straightaway. no making hard decisions, is how they are putting it. it would be great to show it to see how towns moved on the back of it, and you

heard on bloomberg radio, seen on bloomberg tv, this is "bloomberg surveillance." ritika: with the first word news, i'm ritika gupta. president trump stunned his campaign advisors and allies in congress by halting talks on a new stimulus package. that could settle him with the blame for more layoffs and market losses in the weeks before the election. blamingans had been house speaker nancy pelosi for asking too much from negotiations. aideserg has learned is don't want him to leave the white house residence, where he has been in isolation since monday. his doctors say he reported no symptoms of coronavirus his first night back. tonight is the vice presidential debate in select city. -- in salt lake city. vice president pence's team has agreed to allow plexiglass barriers. earlier, his team argued that it was not necessary. hurricane delta has come on tour in moscow -- in mexico. it is threatening to cause $16 billion in losses. is forecast to move across the gulf of mexico before coming on tour in louisiana saturday. global news 24 hours a day, on air and on bloomb

this is bloomberg. ♪ nline. this is bloomberg. ♪ francine: this is "bloomberg surveillance."ancine lacqua here in london. now, president trump wants to conserve them -- the conservative majority by replacing supreme court justice ruth bader ginsburg before the election. president trump can thank a 2017 senate rule change for his shot at filling the supreme court seat. after democrats lost able to prove his first nominee, neil gorsuch, majority leader mitch mcconnell invokes the nuclear option at calling for a simple majority vote. that allowed republicans to gorsuch and pave the way for trump's second appointee, brett kavanaugh, as well. 2016, president obama tapped mary garland to feel the late justice garcia -- merrick garland to fill that lay scalia's seat. it was prevented. either way, senate republican's move quickly. they found the nomination process historically under 70 days on average. and most nominees do make the final cut, since the supreme court's establishment, more than 77% have been confirmed. pretax profits cayman higher than estimated, but the retailer plans

this is bloomberg. tom: i'm going to keep the data check short to get to the landscape of american politics. futures -35. -41 earlier. risk off, and the writ -- the the vix.out, 28.23 on if i had to single out anything, it is disinflationary indications within europe. the swiss 20-year, .315 negative come in. down to record lows or negative, down to record lows or recent record lows. shockingly lower. francine: stocks are tumbling in europe. we had disappointing earnings news and disappointment on the u.s. stimulus, which is playing out in europe, and a fourth these lockdowns by some of the region's largest cities. also hurting investor confidence. you can see the stoxx 600 down some 2%. i'm looking up pound because we are on brexit watch, especially today and tomorrow as you leaders meet in brussels -- as e.u. leaders meet in m brussels. tom: launching moment to moment, our political reporter -- ryan, i don't think there is enough made about the history this evening to explain this to our international

this is bloomberg. ♪ matt: welcome back to bloomberg markets.he european open. we are a half an hour away from the start of trading. at 3:00 p.m. london time, andrew bailey will appear before the house of lords, a committee and he is expected to talk about the outlook for u.k. jobs. at 6:00 p.m., apple will launch its 5g iphones. the u.s. looks unprepared to embrace the technology. all day long today come if it is amazon isme day and ready to test consumers -- if they are willing to spend even more and my guess is yes, they well. let us get the bloomberg first word news. pandemice coronavirus will cost the u.s. $16 trillion according to larry summers and david cutler. bridgewater associates, ray dalio says china has an upper hand on the u.s. on a number of issues. and is on beijing's side the next u.s. administration will have to deal with china's continuing rise. >> time is on china side. -- china's side. what will be a difficult situation in the new administration is destiny is on growing andchina doing better probably. laura: facebook users a

this is bloomberg. matt: -- francine: apple unveiled the newest iphones promising they will be lighter with 5g technology. it hopes the launch of the iphone 12 will launch new growth. >> each generation of cellular technology has breakthrough innovations and new opportunities for developers and users. yets the most exciting step . for so many people, this becomes real with 5g coming to iphone. francine: joining us now is alex webb, our bloomberg tech columnist. what are the upgrades that a consumer might find attractive? alex: four new phones here. 12, the standard sizes, will come in two andthe pro versions have 5g better range protection and photography. it allows for augmented reality in the phone fields of vision. those of the headline innovations. a few other things around the wallet charger on the back which has a magnet in it to attach things to the phones. we have reset our expectations of what we think of as game changing innovation. the biggest is 5g. at the moment there are not many applicati

this is bloomberg. ♪ anna: welcome back to "bloomberg markets: european open."ill have aif we sluggish start to the european trading session. perhaps this reflects the u.s. sentiment as yesterday. u.s. features are pointing to the outside. we are up by three to five cents of a percent. the u.s. major indexes. that's get the bloomberg first word news update. betweenhe spat democrats and the white house to be stimulus deal seems narrowing. nancy pelosi says she has to have an idea whether a bill might pass by and of day tuesday. the public and lawmakers are but if a deal is reached, president donald trump was lobby them to come on board. the uk's holding out for concessions from the eu before restarting brexit talks. the chief negotiator said he is willing to intensify and begin of ann the legal part accord. that's more than enough for prime minister boris johnson, who says a trade deal is unlikely. his office feels the talks were instructive. india has seen a peak in the number of new coronavirus infection according to a government panel of scientists thinks the

this is bloomberg. ♪ ♪ tom: "bloomberg surveillance."for the weekend in an election season. it will be an extraordinary weekend. imagine the sunday talk shows. francine lacqua with extraordinary news flow in the united kingdom and across europe on the pandemic and in the prime minister with europe on brexit as well. right now, we digress. we are going to rip up the script. tania for emailing in on the latest tuition check. scott galloway, how about that virtually tuition? gallowayike scott really need to take a pay cut because nobody has shown up in class? scott: we definitely need to reduce costs, tom. tuition is up 1400% in 30 years and the product has not changed. right now, you can best describe universities as the best -- most expensive streaming video platform. we have stuck arch and out. we think of ourselves as luxury brands. the fist of stone of covid-19 are coming for education on the reckoning is overdue. tom: what will be the micro e-minis of that? there can be ambiguities -- microeconomics of that? what do you think will be

bloomberg's matt miller in open."nchor for "the we will have more with his interview with on the schulz coming up. joining us now is esther reichelt. the pandemic is picking up all europe. some are working up to fresh lockdown measures and it is only mid-october. we are not even into the depths of winter. this will not bode well for the own or europe, will it? no, definitely. apart from brexit, this is the biggest risk facing the fx market in europe right now. we have seen it in march, the huge risk off, and we're seeing it again. eastern european currencies are under strong depreciation measure and this will continue as the second wave sweeps europe. annmarie: a few months ago, the worry, was in regards to the euro, the shrink. we had the intervention from philip lane. it almost seems like a distant now.y do you think the euro will become under increasing pressure due to these fresh lockdown measures across the continent? esther: actually, i doubted. is also some kind of safe haven currency. we are seeing strong effo

this is bloomberg. ♪ ♪ this is "bloomberg surveillance."ta with your bloomberg business flash. goldman sachs is resuming job cuts it had halted because of the coronavirus. the firm is starting up on a plan to eliminate about 1% of its workforce. that is roughly 400 positions. the move comes even though aldman's rating and businesses are booming. the u.s. government has extended a ban on cruising by a month to october 31. the cdc says more action is needed before cruises can continue. an industry panel has submitted recommendations it hopes will clear the way. amongst them, coronavirus test for all guests and crewmembers. billionaire investor david tepper has returned to new jersey. it may cost him $120 million in state income tax. he moved back to new jersey in february because of family reasons. it is one of the highest taxing states in the country. 's move comes as other people say they are moving to florida and texas, which have no state income taxes. that is the latest bloomberg business flash. francine? francine: as we continue to trac

this is bloomberg. ♪ this is bloomberg. ♪ francine: this is "bloomberg surveillance."ancine lacqua here in london. let's go straight to the markets, because european markets are sliding. on reports that the stimulus in the u.s. is not coming, and corporate earnings in many places in europe said to ignite rallies. i am looking out the dollar, rising with treasuries. i would point out that euro stoxx 600 down 2%, futures are actually dropping by less. the chinese stock market continues to outperform peers in asia. european union leaders are in brussels. boris johnson has that he is disappointed by full progress of brexit trade talks, but negotiations will continue to right now, postponing the decision on whether to walk away by tomorrow. still with us is maya bhandari from columbia threadneedle. maya, i feel like it is dÉjÀ vu. it has been years we have been talking about deadlines with brexit. much what will happen and how you invest ahead of the decision? maya: [laughs] you are quite right on the dÉjÀ vu, francine. unclearite remarkably where we ultimately land come al

that school is supported by michael bloomberg, founder of bloomberg lp and bloomberg philanthropy's.s loom with president trump's return. aides are hoping to keep him confined at the white house but are uncertain about how long that will last. receive said to remdesivir at his residency it on the line is max neeson, who covers health care, i'll text, and pharma. biotech, andned -- pharma. i mentioned antibody cocktail from regeneron. he received doses of supplemental oxygen. what do all of these treatments tell us about president trump's condition? caveat that i am not a physician and i am working from the same somewhat limited and sometimes contradictory information as everyone else, from the president physicians, it's quite a confusing story and potentially a concerning one. is quitexplanation possibly that they have just been very aggressive with the types of treatment they are trying, hoping to catch the virus early, hoping to get as good of an outcome as possible for what is obviously a very important case of the virus. the question is whether that could have been over treatment

this is bloomberg. ♪ this is bloomberg. ♪ yousef: u.s.and russia are attempting to interfere with the u.s. election there are 12 days until the vote. is the first nation in western with one million virus cases, and italy and rome considering and permitting a curfew from overnight. u.s. hospitals asians, there's too much time here u.k. and european union resume talks over a

this is bloomberg. francine? francine: leigh-ann, thank you so much. now, it is brexit decision date for prime minister boris johnson. today, he will determine whether or not to demand trade talks with the european union. the leaders are refusing to give a clear signal that he wants to stay at the table. joining us now is maria tadeo in brussels. maria, it is difficult to see whether he will walk out or not. maria: francine, there has been a lot of back-and-forth, and the indication we get from the u.k. dilatation is he will give -- delegation is a clear signal whether he will walk out or not. the assumption is he will not walk out, purely because we won a deal, we just can give you one today, and we. -- and we need more time. the problem is he came up with a deadline, october 15. it is clear the europeans did not expect that deadline. he really wanted a clear signal that one way or another, a deal is coming. statement, at that the european union is still playing this very coy, so it is a difficult situation for

this is bloomberg. ♪ ♪ annmarie: 6:45 in london. this is "bloomberg daybreak: europe." after adding fewer new subscribers than what was expected, and issuing a forecast that misses wall street projections. joining us now is media and tech analyst at bloomberg intelligence. good morning to you. much of netflix growth is tied to new subscribers and also content. the pandemic has really influenced both of these sectors. what is the outlook going forward? dip.s, we saw a bit of a 2.2 million against the 2.5 million estimate. in the greater context, it has been a great year for netflix. 28 million subscribers. they are on track to hit 34 million, which would be a record year for them. they are expecting subscriber growth next year to kind of go back. they're expecting to come out to similar levels pre-covid, so maybe 27 million, 28 million customers a year. the company still sees a huge runway of subscriber growth. most of that will come out of the u.s. obviously, content production was hit quite heavily this year. they had a great lineup of content ready to go in 2020. peop

tom: we welcome you across the nation on bloomberg radio and bloomberg television. thrilled with the response we have been getting. mail iou for the hate have received in the last several days. chris verrone, very optimistic. a doom and gloom guy emailing me in and saying, this guy is nuts. yields did not flinch yesterday afternoon. jonathan: they didn't, but they haven't done much for a long time. they peaked in early june. first week of june, about 95 basis points. we haven't reclaimed that optimism. that was happy talk about reopening and how well things would go. faded pretty quickly, and we've not got back to those levels even with all of this optimism around fiscal stimulus down in d.c. tom: let's get to the data right now. futuresup 19, dow bounceback. -700 from top to bottom yesterday. right now the vix comes in at 25.87. 0.70%er the yields today, rounded up to tui -- 0.78%, rounded up to two digits. lisa, you dazzled me on twitter with a bloomberg grab of the fives-30's spread. discuss. lisa: a lot of people are betting that longer-term yields in the u.s. a

this is bloomberg. ♪ manus: it's "bloomberg daybreak: europe."cranny in annmarie hordern alongside me in london. we have been keeping a track on the opec-plus. the allies gathering to assess the state of the oil market. no supply decisions are expected until december. it is about the telephone call. putin and the crown prince, mohammed bin salman spoke twice. that puts some answers. netflix reports third-quarter numbers tomorrow. bloomberg intelligence reckons a somewhat conservative guidance of 2.5 million. what's on the slate? looking: you will be out for numbers from ubs. the last set of results under sergio's watch. you will have an interview with him than i'm looking forward to. on wednesday, tesla reports. the u.k. government is urging companies to help them deal with what's going on between brexit and covid. the weekly brussels addition. maria, what do you have in store? maria: we will be talking about brexit and debriefing what happened at the european summit. we have a lot to talk about this week. if you look at everything that is happen

this is "bloomberg surveillance ," live on bloomberg tv and radio. alongside tom keene and lisa abramowicz, i'm jonathan ferro. 15 days to go until the election. equity futures up 31, 0.9%. mookie betts getting it done for .he l.a. dodgers already can get done for the show -- already getting it done for the show. tom: for those of you worldwide, this is ferro at his worst. [laughter] his cruelest. thering mr. betts into conversation this early, we say good morning on bloomberg radio in boston. the red sox, worst in the american league. and we move on from there. 15 days until the election. schenker earlier, is there going to be a debate thursday night? is that still up in the air? jonathan: we understand there will be a debate thursday night, but who knows? that's the problem for this market. my question coming into this week is basically how much of the medium-term outlook hinges on what happens in the next two weeks. how many of our market participants have come on this program and actually believe that? tom: we have two people could talking melt u

of power" on bloomberg television and bloomberg radio.m david westin. time for a check of the markets with scarlet fu. banking numbers are out. but on the other hand not encouraging news about the vaccine. scarlet: david, investors are dialing down the risk appetite. in the markets are taking a breather after the s&p 500 want to a six-week high. tech is extending its outperformance once again, a bit of a sign of the bid for safety. but turned to safety is reflected across asset classes, equities.n we are seeing u.s. treasuries move higher as the market returns from a long weekend. the dollar is also former as well. and there has been no movement on stimulus discussions. pimco writes that can perhaps of stimulus looks very likely dead until january. and the macro picture remains challenged. the latest data shows inflation remains tame despite the feds. best efforts to push prices higher. and the imf says the global recession will be lower than forecast. so in this new normal, you look at what sectors are outperforming and underperforming,

this is bloomberg. ♪ ♪ vonnie: this is bloomberg markets.ntries around the world struggling under the weight of the covid-19 pandemic, and they are trying to figure out how to pay for it all. sonali basakw is and julie monaco of citigroup. >> thank you for joining us. covid has change the calculus for so many countries around the world. how has it changed your job? julie: it has not really changed that much. i continue to spend time with my clients, thinking about how they are going to finance their development goals, achieve their economic goals, but how it has changed is obviously there is an intensity in terms of what is going on. , wee march of this year have had governments announce $11 trillion in fiscal stimulus. sovereign debt is up 31%. we have seen government deficits grow. as governments are more challenged, obviously, we are having more dialogue with them about the fiscal spending, how they are fighting the pandemic and preparing for growth out of the pandemic. certainly, how they pay for it all. vonnie: how they pay has two mean

bloomberg. ♪ bloomberg. ♪ ritika: let's check in on the bloomberg first word news.ilar story for louisiana. much of the state is under a hurricane warning. ina is the 27th named storm what has been a very busy atlantic season. it will be the fifth named storm to hit the state this year. the u.s. is pushing for closer ties with india as that country faces a prolonged border conflict with china. secretary of state mike pompeo and defense secretary mark esper meet with top indian officials in new delhi today. officials say they talked about ways to cooperate on pandemic response, as well as challenges in the indo pacific region. president trump is mistakenly telling mailing voters having second thoughts they can change their votes in most states. the president tweeted that google searches for can i change my vote have been trending upwards. only a handful of states allow voters to change their ballots after submitting them, and the practice is not common. in the u.k., prime minister boris johnson faces a revolt from more than 50 of his own conservative members of parli

this is bloomberg. ♪ ♪ tom: bloomberg surveillance from london and new york.cqua and tom keene. we are seeing this rebound continued move up in nasdaq futures and even spx futures at negative three. right now we turn our attention to the success of africa. on cases andics deaths in this horrific pandemic are really quite good. clobbered have been by this pandemic on every economic front. ghananance minister of writing in recent days. joining us with the bank of ghana, the governor of their central bank, ernest edison joins us. thank you for joining us. i would guess the education at cambridge and mcgill did not prepare you for the shock of this natural disaster. anecdote of the shock of this pandemic to the economy of ghana and the people of ghana. ernest: thank you very much for that. impact of thehe pandemic surprised everybody to wake up and not be able to go to work because we are afraid -- economy -- that was the real job. gdp andn i look at the the imf assistance to you, the request for aid, it is shocking to see gdp per capita estimated to go down this

this is bloomberg. ♪ annmarie: good morning. this is "bloomberg daybreak: europe." am annmarie hordern. france will place more cities on maximum alert after daily virus cases rose above 18,000 for a second straight day. that is as new infections in the united kingdom, spain, and italy surge. now is bloomberg's maria tadeo. i saw the numbers this morning and it is quite concerning what you are seeing around europe. what is the latest that we need to know? would point to the measures we are taking --that were taken yesterday by the french government. they are at the top alert level that they have. restrictions really have an impact on the service industry, on restaurants. now, you are looking at paris. that has been the case for two weeks now but they are also adding granada. now, you have more coming into play. we have set for a while the approach is not to go for a national lockdown. your -- underl of major restrictions, ultimately, does that have the same kind of impact. what i would point to is the spanish government, yesterday, late in the night, called a special

this is bloomberg. ♪ dani: welcome to bloomberg etf iq europe. i'm dani burger.be your guide to the regions up a thriving market and exchange traded funds. everything you need to know about the funds and the flows. $460 billion of inflows. we will ask if the u.s. eat -- the u.s. etf market buffer growth will continue regardless of whether there is a democrat or republican in the white house next year. 95% oft big thing -- institutional investors say fixed income market is ready for the quant treatment. we will discuss a new way to buy bonds. if y a s

this is bloomberg. ♪ ritika: the white house is once again shifting its position on a stimulus package. treasury secretary steven mnuchin told house speaker nancy pelosi the administration now once an agreement on a large scale relief bill. earlier this week, the president pulled negotiators from talks. louisiana is bracing for hurricane delta. the storm has picked up strength and is now a category three, with winds up to 120 miles per hour. it is expected to slam into an area still recovering from hurricane laura. the hurricane has forced energy companies to shut down almost all oil production in the gulf of mexico, and most of the gas output. british and international banks are being warned of possible disruptions when the brexit transmission -- the brexit transition. brexit the transition period ends. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. guy: staying with the u

this is bloomberg. ♪ francine: economics, finance, politics. this is bloomberg surveillance. francine lacqua in london. happy monday, everyone. let's get to the bloomberg first word news with leigh-ann gerrans. leigh-ann: reminisced reports johnson is warning the u.k. faces a tough winter. speaking to bbc, the public is angry with his handling of the pandemic. he also admitted his government's plan to subsidize dining, eat out to help out, may have helped to spread coronavirus. now, over in the u.s., wildfires in california have burned 4 million acres so far this year. that's a bigger area than the state of connecticut. it's more than during the previous three years combined, and it's more than double the previous record set in 2018. the results are devastating. paris have killed 31 people and destroyed more than 8,400 buildings. dow jones is reporting president donald trump didn't disclose his first positive coronavirus test. it said he took a rapid test on thursday, waited for the results before telling the public. it says he knew of the first was at of test before his appe

we are joined by our bloomberg and bnn bloomberg audiences.the top stories we are following from around the world. for the first time in nine years, the number of u.s. coffee shops is shrinking as they struggle to survive. we will discuss what closures to independent cafes me into the economy and for fast casual chains with the former dunkin' brands ceo robert rosenberg. saysury secretary mnuchin he and the president are not giving up on stimulus as he is set to meet with nancy pelosi again today. we will discuss the chances with brown university's wendy schiller. and we will look at how the beverage industry is reducing emissions. anheuser-busch partnering with rio tinto to produce low carbon aluminum cans. it is a similar story to what we've been seeing, a pre-application for markets and investors with stimulus talks ongoing, and with the path of the pandemic uncertain, rising cases globally, seeing cities around the world clamping down in new ways, raising the fear of a path of economic growth. in the u.s., those unexpected claimsin jobless

this is bloomberg surveillance, live on bloomberg television, lisa, i'mtom and jonathan ferro. francine lacqua is off today. to go -- we have 12 days and debate in tennessee. tom: yields are coming in all the latest higher yields, a 10 year jump point. a .1%. i'm suggesting is a political focus but you have to keep your eyes on these correlations. mention that -- speaks to the agony of so much of america. jonathan: 25 seconds into the program and we get to her favorite topics, stimulus. a 48-hour deadline that keeps rolling. >> and are we going to continue to attribute market moves to this ongoing rolling deadline with the same story underpinning it? to,h mcconnell doesn't want nancy pelosi and steve mnuchin do. they don't see much closer. i think there's a political question underpinning the market, are people second-guessing their dismissal of a contested election. interferencee raised yesterday, possibly increasing the chances of a messy elections these in -- election season. jonathan: may become i'm just not going to get excited on an 11 point move on the s&p 500. lisa: we

we are joined by our bloomberg and bnn bloomberg audiences.e the top stories we are following from around the world. u.s. stocks in the red and getting redder. the s&p 500 on its biggest decline in weeks. lawmakers struggling to reach an agreement on stimulus and so much more. tax policies under trump and biden. we will speak to the director of the uc berkeley tax and finance center about what to expect with eight days until election day. u.s.ew era of bankruptcies. some creditors are left with just pennies on the dollar. why many lenders are coming to the realization that their claims are almost worthless. as you say, we are seeing stocks tracking for one of the worst days since early september. a combination of factors dragging the weight down. every subgroup of the s&p 500 is moving lower. leading another kleins is energy, although david wilson has just noted -- and you will hear more from him on radio -- energy is now at one of the lowest weights in the index for some time. tech is still declining in a big way today, leading the declines i

we are joined by our bloomberg and bnn bloomberg audiences. here are the top stories we are following from around the world. wall street bracing for election day. we look at what a biden or trump victory would mean for markets with jason trennert. retail sales topped estimates. consumer spending rises at the fastest pace in three months. headwinds are increasing as stimulus talks remained stalled ahead of the election. we will discuss the outlook of the election with deborah weinswig. museums writing the rules to survive. having been forced to shut, museums are now selling work long off the market, hoping to turn a crisis into opportunity. investors also looking for inflation hedges and are paying. amanda: we have a slightly more positive sentiment, momentum in the markets today. the internals are not suggesting any kind of runaway growth year. rate sensitive groups are leading the s&p 500 higher. we have that unusually strong read of retail sales. we have been watching the labor data we can as we go, bracing for the outlook from companies as

this is bloomberg. ♪ ritika: this is "bloomberg surveillance."ika gupta with your bloomberg business flash. china will impose unspecified sanctions on lockheed martin and others after the u.s. approved and a billion-dollar arms sale to taiwan last week. china says the sanctions are needed to uphold national interest. the parent of dunkin is in talks to be acquired by inspire brand. the deal is valued at $8.8 billion and could be announced today. owns buffalo wild wings and jimmy john's. , theren in the pandemic were shortages from everything from toilet paper to meat. now there is a scarcity of larger household foods. here is scarlet fu. scarlet: shopping for a new freezer or bicycle? join the waiting list. homes ishem to your part of the global supply chain estimated alers demand surge. factories around the globe reopened but often at limited capacity to keep workers socially distant. traderus also gummed up lanes. with demand booming on the back of a rising u.s. housing market, and already stressed network is seeing more stress. aging appliance

this is bloomberg. ♪ ♪ guy: this is bloomberg.going to read bloomberg business flash, but that is rapidly disappearing off the screen for me. [laughter] let's talk about what is happening with vanguard. vanguard is leaving the institutional business in china to focus on managing money for individuals, according to people familiar with the matter. for more on vanguard's shift in strategy, we are joined by our senior markets editor, scarlet fu. of the: vanguard is one big three asset managers in the world, second only to blackrock. inmanages almost $4 trillion institutional assets. but like everyone else, the answer to clients. we know that the bigger the institutional client, the more leverage they have over there asset manager. in this case, we are talking about trinity funds. these clients can make a lot of fees that areas so low that even the vanguard might find it uneconomic. what is happening here is that vanguard is retreating from the chinese state fund market, and it follows its decision in late august to also exit hong kon

this is bloomberg. ♪ ♪ alix: this is bloomberg markets.w is sarah. >> the position being built out across treasury bond futures. particularly for leveraged funds. this was the predominant narrative that come november 3, we will see more fiscal policy, and if yougrowth, highest since february. it is interesting that our colleagues pointed out that all wea sudden last week, started to see the opposite, that bet against this, that got rising yield we were at least seeing last week with the moving average, that will stall out before 1%. it is not the only story. we are seeing it reflected in markets today. not all that certain. >> it will be quite the comeback between are expected to see. a lockdown since the beginning of the year. the question is about what comes next. >> thank you. in the next hour, we will get jeff you's take. is bloomberg. ♪ alix: i am here with guy johnson. markets are turning sharply. >> getting a deal done this side of the election is not the consensus now. s.a.p. getting smashed lower. the biggest stock since 1999. els

this is bloomberg. ♪ matt: welcome back to bloomberg markets.he european open. we are six minutes away from cash equity trading. your your stocks to watch from dani burger. -- here are your stocks to watch from dani burger. -- these are early-stage talks. a lot of hurdles to get over. they need to get over a poison pill that kpn has in place but they also need consent from the dutch government. ceo to takeng a new over british airways. he came from aer lingus. he has faced some criticism regarding some cost cuts in the service changes. the clashes with unions that happened because of that. he is now out as head of british airways. and astrazeneca, more news around their research for the coronavirus. they are entering the late trait -- late trials. they have received $486 million to support the research and as part of the deal, they will give 100,000 doses. anna: dani burger with your stocks to watch. the market open. four and a half minutes to go until the opening of the market. ftse futures looking decidedly sluggish this morning. this is bloom

this is bloomberg. francine? francine: president donald trump returned to the white house after three days of hospital treatment for covid-19. in a video released shortly after, he urged americans not to be afraid of the virus. pres. trump: don't let it dominate, don't let it take over your lives. don't let that happen. we are the greatest country in the world. we are going back, we are going back to work. we are going to be out front. francine: joe biden spoke out and urged the president to encourage mask use. mr. biden: i would ask him to do this, listen to the scientists, support masks, support a mask mandate nationwide. require masks in every federal building and facility and in interstate travel. urge every governor and mayor to do the same. we know it saves lives. his administration just rejected a mask mandate for public transportation on friday. francine: let's get more now with kathleen hunter from our politics team. the president seems to be trying to turn his own bout with covid into a politi

this is bloomberg. matt: welcome back to bloomberg markets.n. 38 minutes into the session. we're looking at red arrows across european equity indexs with the ftse off .5%. let's get the bloomberg business flash. >> nestle's says its outlook for revenue growth has improved as consumers turned to its brands during pandemic. the world's largest food and beverage company is forecasting sales growth of 3% this year. an increase in pet ownership is also driving sales. netflix said latest results are adding to doubt they can maintain adding just 2.2 bill million in the third quarter. about a million short of what was expected. the kean warned the pandemic oom will not last. the company had previously warned the pandemic would curb revenue with the company losing money with the lack of big movie launches. the lack of new tv and movies meant to more people turning to the app. matt? anna? anna: thanks very much. one of the many impacts is the nature bio diversity in one million of the earth's eight billion species is facing extinction. it could cost $20

this is bloomberg. ♪ vonnie: this is bloomberg markets. i'm vonnie quinn.ush to develop coronavirus vaccines continues around the globe as cases see a resurgence. joining us for the latest is matthew harrison. your team covers all sorts of things like epidemiological variables and so on. talk to us about our rates across the united states and what that actually means. are is starting to rise again. in our review of the data, r above 1.1 indicates a more sustained spike in new cases. we are hovering just below that at 1.07. about two weeks ago we were below one but we slowly crept north of one recently. outbreakow has the changed in nature? we are seeing clusters in small areas. that is affecting the overall data and it might be less dangerous in the united states. >> i think you are right in the sense that this scope is different in terms of its geographical presence. i guess my underlying view would be as long as there is high rates of community spread which is what we see, that still leaves the majority of the country vulnerable and if you were to see cas

this is "balance of power" on bloomberg television. bloomberg television.this is "balance of power" on bloomberg television. i am david westin. the new york post published a revealedernight efforts by hunter biden to use his access to his father to benefit the ukrainian energy company on whose board he served. for an early read on what this may and may not mean for the biden campaign we welcome a bloomberg political reporter. it's a convoluted story. it's something the trump campaign has been on for sometime time including the presidential debate. >> we sat there while the president tried to hammer joe biden on this very credible question. now we see this big report out of the new york post that emails from a laptop recovered at a repair shop in 2019 and seized by the fbi, over 40,000. delivered to the lawyer of rudy giuliani. we have had steve bannon, another former trump administration official on the air talking about these and the seriousness. parcel of and attempt by the trump administration to raise this onue and get people to focus joe biden. and to

this is bloomberg. ♪ ritika: this is bloomberg surveillance. ritika gupta with your bloomberg business flash. today walmart rib reportedly announced the sale of a majority stake of a consortium led by tdr capital full to the price come about $8.4 billion. all of that according to sky news. one of the losing bidders is that walmart has been looking to a for at least two years. a digital version of the euro -- the ecb will hold a public consultation in a major step toward introducing the technology. cryptocurrency such as bitcoin is looking at how payment technologies are developing full time general motors may revise its deal with electric truck ola.t up nicho the company shares are down more than half since the deal was announced september 8. that is the latest bloomberg business flash. tom: a deterioration in the tape. we had a sharp deterioration at the 1:00 hour off the president's tweet that the president has the onus along with the first lady. -- has theegative illness along with the first lady. the dow negative. the vix, 28 point 85. doll

this is bloomberg. haidi, over to you. netflixtill ahead, disappointing on the result. subscriber numbers suggesting the pandemic boost is starting to wane. we will break down those numbers and the outlook later this hour. we will be discussing market strategy with our guest. her top picks and why she is banking on sustainable values, coming up. this is bloomberg. ♪ haidi: we are getting a business operational update from the gap. the gap saying they are reviewing their warehouse this tradition model as well as undertaking a strategic review of options for their business in the european market. gap saying they are looking at options including the closure of company operated gap stores in europe. they are saying they are beginning the strategic review of options and the possible closure of gap stores would affect markets including the u.k., france, ireland, and italy at the end of the second quarter in 2021. they are reviewing their warehouse and distribution model as well as their gap and banana republi

this is bloomberg. ♪ matt: welcome back to "bloomberg markets: european open."n minutes away from the start of cash trading, futures indicating gains at the open, zero point 6% on the continent, 0.3% in the u.k. let's go to dani burger and get a look at individual stocks that could move today. the picture not getting brighter for easyjet. up $1.1 billion loss for the fiscal year that ended in september. for the next three months of the capacity, see a 25% operating at a quarter of their normal level. they are scrapping their dividend and reviewing their liquidity position, imploring the state to step in with more aid. look for more continued pain in the share price of easyjet. anna: and to the casinos and gaming sector, gbc with bullish guidance. the: absolutely, this is story of different companies that are resilient to downturns in the economy, and ones that are not. gambling seems to be holding up, gbc raising its guidance, and the whole year beat the average estimate. they have raised the price target on gvc saying it is an outstanding set of results. they h