mark: i am mark crumpton crumpton with first word news. brussels fail reach an agreement on some of the more contentious issues on brexit after theresa may met with european union officials today. >> despite our best efforts and significant progress, we and our have made progress on key issues. it was not possible to reach an agreement today. mark: talks will continue next week. outils need to be hashed before both sides can begin trade talks. former consumer watchdog head richard cordray is set to launch his long anticipated bid for ohio governor tuesday. the associated press reports a campaign adviser spoke on the condition of anonymity because the information was not yet public. cordray's stepped down as head of the consumer financial protection bureau last month. ohio attorney general and treasurer. whether tol decide people can be extradited from belgian to spain a week before a key election in catalonia. the group has refused to return to face embezzlement charges that can be punished with decades in prison under madrid's criminal la

i am mark crumpton. this is bloomberg.e, why the of house -- when he is a stopgap spending bill, -- what nancy pelosi called the stopgap spending bill. >> there is nothing about the opioid epidemic, veteran funding, children's health insurance. shery: speaker ryan will have to put the votes of the house freedom caucus -- court the votes of the house freedom caucus. we are joined by louie gohmert jr., republican of texas. what will it take to get your vote and what are your red lines? we then -- let's bill conference tax cut floor, we'reo the hoping it will be out in the next two weeks. but if you set a spending bill to come to the same time as a tax cut bill for nearly all americans accept the wealthiest -- except the wealthiest, senators will say, you have the spending bill coming up and you get to me this or that and i will vote for your tax-cut bill. we end up having things like the louisiana purchase, efforts to buy the votes of senators that sometimes goes on. aboutd be very concerned those two coming together at the

crumpton. this is bloomberg. ♪ scarlet.ng up, bitcoin breaks another barrier of 40% in 40 hours. but as these gains continue, howard davies voices his concerns. this is bloomberg. ♪ julia: bitcoin mania is hitting new highs. bitcoin currency smashed $16,000. howard davies speaks to bloomberg about his concerns in an exclusive interview. i'm afraid this is a rational exuberance. this was greenspan's famous phrase. of course then he found that the market kept on going up after he said it should stop. -- i do think that the idea of it transmitted ledger, which makes systems faster in real time, is a good one. is now time for the bloomberg business flash, look at the biggest business stories in the news right now. pfizer expects to receive a nonbinding it for its business unit early next year. according to people familiar with the matter, the drug giant is expecting a range of offers from global health care and consumer companies. we are talking about j and j, -- glaxosmithkline, among others. 15 billionould fetch to $20 billio

afternoon is with -- with mark crumpton. brexit.breakthrough on this and six months of intense negotiation's on both sides. this includes a guarantee from britain that there will be no hard border between northern ireland and the republic of ireland. , whorish prime minister praise the deal, said it is time to look toward the future. -- >> brags that, by nature, has strained relations between ireland and the u.k.. is to make sure we get through that. the closeestablish friendships that should exist between britain and ireland and the british and irish governments. today's -- mark: today's breakthrough clears the way for talks in what most businesses are interested in, trade after brexit. -- plans to leave the white house following president

i am mark crumpton with first word news. house lawyer says nothing about michael flynn's guilty plea "implicates anyone other than mr. flynn." the former national security adviser pleaded guilty in court today for lying to the fbi. the news sent shockwaves through congress. >> this is seismic in proportion, frankly. this means that mr. mueller is getting very high up in the front change. the reality is, there are very few people left for him to get to between former general flynn and president trump. so it's all closing in on the resident. ,ark: as part of a plea deal flynn has admitted a senior member of the trump transition team directed him to make contract -- contact with russian officials in 2016. according to sources, that person is jared kushner. former fbi director james comey tweeted a bible verse shortly after mr. flynn's

i'm mark crumpton. this is bloomberg.ch.thanks coming up, more insight on the bitcoin boom with michael holland. also, julia wants to still talk about china. this is bloomberg. ♪ bitcoin is preparing for the big primetime -- i would say the big-time, but we have to be cautious. markets go live with futures contract on the cryptocurrency on sunday and we are back now with michael holland, founder and chairman of holland and company. bitcoin thoughts? mr. holland: article this morning 5:00 a.m. on bloomberg. scarlet: thank you for the shameless plug. mr. holland: it was one of the first things i read. 1000 people, according to the author, own 40% of the bitcoin market. and there is no such thing as insider trading in it, so they can do whatever they want, which means the volatility could be in overuture when you are 15,000, having been at 1000 months ago -- the volatility from these people potentially doing things that are not illegal to the pricing market -- it is obvious to anyone. julia: does the arrival of a futures con

that's check it headlines with mark crumpton. today signed proclamations to formally scaled-back two sprawling national monuments in utah. the grand staircase escalon tape. the president traveled as a lake city to make the announcement and is supported by utah's top republican officials but opposed by native american tribes and environmental groups. the president said his action means that public lands will once again be for public use. ande leader nancy pelosi senate minority leader chuck schumer hope the president will keep an open mind when he meets with them thursday. the top democrats said they accepted an invitation from the president to a white house summit for ways to avoid a government shutdown. money for agencies expires midnight friday. president mocked them on twitter. the case of a colorado baker who refuses to make cakes for same-sex weddings. the landmark argument is the first full-scale test of gay rights since the court legalized same-sex marriage as nationwide in 2015. supporters claim the case turns to undercut

let's go to mark crumpton.ark: as we have been reported, president trump is claiming what he calls a historically or he following congressional passage of the republican tax bill. prior to the cabinet meeting, the president told reporters that thanks to paul ryan ryan and mitch mcconnell, the legislation was done before christmas. the president said the tax bill essentially repeals obamacare by eliminating the tax penalty for americans who do not carry health insurance. congress will go straight from the tax bill to a fight over a must-pass spending bill. they need to pass the measure by friday to keep the government operating. they are trying to avoid a shutdown. republicans may have to make some concessions to democrats, but they cannot afford to alienate conservative republicans. the agencies that owns the track were an amtrak train derailed monday said radical speed -- criticalnology speed control technology was not in place. they said work to install the sophisticated gps-based technology is not expected t

i'm mark crumpton. this is bloomberg. ♪ julia: live from bloomberg's world headquarters in new york, i'm julie chatterley. scarlet: i'm scarlet fu. joe: on joe weisenthal. julia: stocks nearing session lows as marquette -- small caps leading the losses. joe: the question is, what'd you miss? scarlet: internet service providers one today's tug-of-war. delivering a blow to content providers. michael beckerman, ceo of an industry group that represents netflix, google, and amazon joins us in the next hour. another shakeup in the media world coming from disney's allocation of 21st century fox'ss. they gained the movie studio and a remarkable stake in sky. wo senators threaten to throw the gop tax overhaul into the lurch. susan collins and marco rubio worried it could break an agreement between republicans. julia: what'd you miss? in. retail sales rose more november, and the previous month was revised higher. that's according to figures received -- released today. boston playing of consumer demand as -- broad

i'm mark crumpton. this is bloomberg. ♪ live fromlia: bloomberg world headquarters, in julia chatterley. scarlet: i'm scarlet fu. joe: and i'm joe weisenthal. julia: all we have to talk about is bitcoin. joe: but the question is "what'd you miss?" where is the wage growth? across the pond, theresa may managed to secure a late-night break the deal, but that does not mean it is smooth sailing. brexit deal, but that does not mean it is smooth sailing. from the west bank to jakarta. "what'd you miss?" added 228conomy thousand jobs in november, more than expected. all of this before the fed's expected rate hike next wednesday. so, let's bring in deutsche bank's chief international economist torsten slok. sten, i know you slaughtered this is your number one risk. we have been waiting for this for so long. s as know you slotted thi your number one risk. we have been worried about inflation for a long time. the wolf has not arrived. we do think the most important factor is the unemployment rate should be at 4.1

i'm mark crumpton. this is bloomberg. scarlet: thank you so much.g up, he will hear from the father of investing and why he was never in the business of empire building. we will explain. this is bloomberg. ♪ scarlet: it is time now for our stock of the hour. on pace for its best day since 2016, shares are soaring. joining us now to explain what is going on is abigail doolittle. the company reported results? abigail: they did. by 50%. this is a company that has really been struggling. behind the weakness we have seen in the last five years, we had investors and consumers liking flower --ic for 2018.o revenue that represents a 5% for -- drop is what wend that have seen in the last several years. investors are looking for some kind of turnaround here. constantly on sale for many of these businesses. they are moving toward a vision 2020 plan which focuses less on clearance. if you go to their website, the first thing you see is 30% for the holidays. you are right about that. >> behind today's, a short squeeze. .ake a look it was a good quarter. shortage

i'm mark crumpton. this is bloomberg. vonnie: mark crumpton, thank you for that. are looking at a live shot of the sec vote on the obama era net neutrality rules. they are expected to roll back those internet protections. it would be a vote on party lines. we are on to the second vote. it could go on for as long as an hour. we will keep you updated. i also want to bring you a headline crossing the bloomberg now. house majority leader paul ryan seen there with his weekly news conference, he is saying that he is considering retiring after the 2018 midterms. this is politico reporting that paul ryan, speaker of the house, is considering retiring after the 2018 midterms. let -- shery: let's get back to the markets. index investing is accelerating. funds may beives managing more assets than their counterparts. bloomberg'suss is alan mirabella. is this all because of how much cheaper it is to invest in passive? >> yes. absolutely. what you are seeing is a big shift. why do i need to pay lots of money for an active manager who is not potentially meeting the market? the s

shery: now, first word news, mark crumpton has more. mark: in washington state, federal investigators say that amtrak train that derailed yesterday was speeding before it reached an overpass. according to the trains data recorder, it was going 80 miles-per-hour in a 30 mile per hour zone. at least three people were killed. more than 70 others treated at local hospitals when the train hurtled off the overpass. it was making its first run along a new pastor, routes, between seattle and portland. house speaker paul ryan has told the republicans he has no intention of stepping down. in a closed-door meeting with rank-and-file members today, he indicated that it may no sense to leave "when we are winning and have the momentum." that is according to georgia congresswoman, who says republicans responded with applause and a standing ovation. the u.k. once a significantly better trade deal with the european union after brexit then the one canada had with the block. that is according to prime minister theresa may's spokesman. he says the prime mi

with mark crumpton.ties in new york announced federal charges against 27-year-old akayed ullah , an immigrant from bangladesh who said -- set off a pipe bomb on monday. federal officials say he became radicalized through the internet about three years ago. >> the search yesterday of his apartment in brooklyn and heights, pieces of wires, and metal screws consistent with the bomb materials recovered at the scene. a passportso found there in his name. with handwriting that included one particularly chilling note. "america, die in your rage." mark: authorities say he admitted he had been inspired by an islamic state to carry out to the attempted attack. president trump is reiterating his call to overhaul the nation's immigration system in the aftermath of that attack in new york city. authorities say the suspect in the blast arrived in the u.s. through a family connection to an american citizen. the president says congress "must get involved immediately." theria has approved resumption of gas flows to italy

i'm mark crumpton, this is bloomberg. scarlet: breaking news. -- nike reporting results beating estimates. in terms of revenue, that was an increase to $8.6 billion. analysts were looking for 8.4 billion. nike reports growth by international geography. direct,ength in nike without going through distributors. nike shares have little changes right now. julia: bloomberg intelligence analyst joins us now. as we were expecting, the u.s. was an area to look at. they are having to use the international performance to offset our weakness. results,ooking at the china up 17%. europe is up as well. north america is still challenging. it is a little weaker than what i expected. it is down 7% on the footwear side. still sluggish. joe: the stock is not doing much after hours. it has been on a nice run over the last couple of months. whole thing about people were going to wear adidas instead of nike, is that still a thing or was it a phase? >> that has been going on for the last 18 months. pipeline ofk at the products coming out, we are excited about the prosp

i am mark crumpton. this is bloomberg. julia: live from bloomberg's world headquarters in new york, i am julia chatterley. scarlet: i'm scarlet fu. joe: i am joe weisenthal. julia: we are 30 minutes to the close of trading in the u.s. the s&p 500 is on track for another record close. joe: the question is, "what'd you miss?" scarlet: bitcoin has landed on wall street. the futures delivered a wild ride. we break down today's moves and what to look ahead to. plus, it is crunch time for tax reform as we near the end of the year, but will the middle class notice the tax relief if and when it gets it? the labor market is set to end of the year on a high note. chiefk ahead with the officer at indeed. julia: the s&p 500 is on track for a record close. how long will investors be able to keep riding the bull market? it all depends on what stage of that bull market we are actually in. here to answer that and give his outlook for 2018 is the chief market strategist at counter fitzgerald. great to have you on the show. you said in 2016

i mark crumpton. this is bloomberg.to you in washington. kevin: as march as mentioned, president trump's former national security advisor has agreed to cooperate with prosecutors in the russia probe. cutera talk about the latest developments is the your congressman eliot engel, it was also the ranking member of the house foreign affairs committee. congressman, let me get right to it. what the you make of this plea deal? is essentially general flynn saying he is willing to play ball with paul miller? rep engel: it seems that way because the one count of pleading guilty, even though it was a felony count, was rather restricted. you have to wonder why he would not be indicted on more than one count. it would seem to indicate is some kind of a deal in the works, some kind of putting their heads together and working has flipped.flynn shery: how do you expect to help this in the investigation of mr. mueller? rep engel: i said from the beginning i wanted mr. mueller to do whatever he needed to do. and what the american people

mark: i am mark crumpton with first word news.security confirms the suspect in this morning's pipe bomb terror attack in a pedestrian passageway beneath times square was admitted to the united states lawfully in 2011. akayed ullah presented a passport displaying an f-43 family immigrant visa. authorities say he benefited from extended family chain migration, a talking point president trump has pointed to as a weak point in u.s. immigration policy. four people including ullah suffered nonlife threatening injuries. ullah is in police custody. the suspect told authorities he's a follower of islamic state, but investigators believe he acted alone and planned the attack after reading one of the publications on lines. the tax cuts proposed in the republican senate bill should pay for themselves over 10 years in combination with president trump's other economic policies are that is according to an analysis released by the treasury department. the report did not include specific calculations

here's mark crumpton. secretary-general says brexit will have little bearing on the uk's commitment to the alliance. as eu leadersoke attended a security summit in brussels. change britain's relationship to the european union. thebrexit will not change uk's relationship to nato. the u.k. has again and again underlined of course that they will stay. and the u.k. is very important for nato because next to the united states the united kingdom has the biggest defense budget and is providing capabilities to nato and european security. >> stoltenberg says today's summit provides an initiative to strengthen the european defense system, increase defense spending and improve burden sharing. vice president pence plans to delay his weekend departure for the middle east as congress nears completion of a tax overhaul. that's according to white house officials who spoke to the associated press. officials say the vice president plans to leave for egypt on tuesday so he can reside over the senate during a vote on the tax

i'm mark crumpton, this is bloomberg. julia? julia: thank you, mark.itcoin is grabbing attention with its giant gains this year, but it is not the only cryptocurrency on the table. at all-time high this week, a market cap of $64 billion -- the second largest digital currency behind bitcoin. joining us now is joseph lubin, cofounder of ethereum. of the frenzy,e excitement about bitcoin in particular, and does it help in your version? joseph: acknowledgment of our world is very exciting. we are not the norm as the , we arecryptocurrency happy to see it succeed and breakthrough. the bitcoin application is the first application on blockchain. at ad a theory him -- theory him have built a d central accusation -- decentralization platform on blockchain, and we are excited about the applications beyond bitcoin. julia: how about in english? what is the difference between effectively what you have and what you are arguing here is more superior? joseph: bitcoin is the first application built on the blockchain technology, which is a trustful infrastructure. that

which ar -- we turn to mark crumpton. arizona officials are trying to figure out with a hold a special election to take a midterm replacement republican congressman trent franks. he announced he will resign effective january 1 after revealing he discussed surrogate motherhood with female staffers. the vacancy is occurring more than six months before the next general election, arizona law requires the governor to schedule a special primary election and a special general election. democrats are continued that's considering a plan that would limit the influence of so-called superdelegates at the next presidential primary. most the new rules, superdelegates would have to tighter votes on the convention's first ballot. the compromise comes after allegations by supporters of vermont senator bernie sanders during the 2016 primaries the system was rigged. the legal battle over president trump's travel been resumed today in virginia. administration attorneys will ask a federal appeals panel to uphold the september 24 proclamation

we head over to mark crumpton. mark: united nations general assembly voted today to declare the u.s. recognition of jerusalem as israel's capital quote, null and void. before the vote, ambassador nikki haley told member states the u.s. could stop funding countries that supported the resolution. she added that plans to move the u.s. embassy to jerusalem will go forward. >> the decision does nothing to harm peace efforts. the president's decision reflects the will of the american people and our right as a nation to choose the location of our embassy. said ambassador haley quote, the united states will remember this day when it was singled out for attack in the general assembly. the trump administration is imposing sanctions on myanmar. the treasury department says it's penalties are targeting 13 people worldwide for human rights abuse and corruption. among them is myanmar's army chief responsible for operations in the area where washington and much of the world says ethnic cleansing of muslims has occurred. to men ha

i am mark crumpton. this is bloomberg. shery: thank you. coming up, the climate for bitcoin in latin america is heating up, why the region middle-class are flocking to cryptocurrencies. this is bloomberg. ♪ ♪ shery: this is bloomberg markets, i am shery ahn. vonnie: i am vonnie quinn. bitcoin futures market is set to go live sunday, still weird to gets to newbitcoin heights as the demand for cryptocurrencies increases, especially in some latin american economies bitcoin where many are flocking to to protect their savings from rising consumer prices and currency controls. more.e how did you come upon the story? where did you think to go looking for when it comes to bitcoin and latin america specifically? >> we have been covering emerging market for many years together and recently she now covers bitcoin. -- ine talking about argentina, way before bitcoin rose to the level is at common 2012-2013, we knew people trading bitcoin back in because of severe capital controls. as it is starting to take off and a lot of people are talking about it, c

we turn to mark crumpton.spitalized in police custody after a pipe bomb he was wearing detonated in a pedestrian tunnel inside the times square substation this morning. the suspect was identified, and he suffered burns while three other people sustained minor injuries. cuomork governor andrew called the device low tech he was adamant that the city remain after subway lines were temporarily shut down. work.'s go back to we are not going to allow them to disrupt us. that is exactly what they want. that is exactly what they are not going to get. officialsenforcement say he came from bangladesh seven years ago with a type of preferential visa of people with relatives who are u.s. citizens or permanent residents. wildfires inf the southern california is moving north. hundreds have fled their homes in santa barbara county. so far, nearly 360 square miles have burned in tens of files -- tens of thousands of residents are under evacuations. the blazes are only 15% contained, and are considered the fifth largest in cal

. ♪ crumpton -- mark: i'm mark crumpton with first word news.ax bill we're the house of representatives and president trump declared the largest tax cut in u.s. history. joined at the white house i house and senate members, the president said that it will help to repatriate large sums of money from around the globe. >> we are going to bring at least $4 trillion back into this country. money that was overseas in parts of the world where they don't even like us and they had the money. well, they won't have the money long. the tax bill goes to the president's desk, though it's not clear when he will sign it into law. the disgraced former archbishop of boston whose failure to stop child molesters in the priesthood led to the worst crisis in american catholicism died in rome at the age of 86. a survivor of clergy abuse said of the cardinal -- how is he going to explain this when he comes face to face with his maker? >> this was a guy in such a position of power. he had such respect from so many people. he had the audacity -- the possibility to do so

we will discuss. ♪ craig: i'm mark crumpton -- mark: i'm not mark crumpton.stein defended robert mueller after facing questions about anti-donald trump text messages exchanged between two fbi officials assigned to the russia probe. rosenstein told the panel that he saw on okra -- no cause to fire mueller and saw no pressure to do so. the decision came one day after the justice department provided hundreds of text messages between an fbi counterintelligence agent assigned to the team and an fbi lawyer who was on the same detail. the suspect in the attempted suicide bombing in manhattan appeared before judge from this hospital room. and if convicted on charges of providing to real support to a terrorist group, use of them -- weapon of mass distraction, and three bomb related counts. theoud abbas is calling on u.n. to replace washington as the middle east mediator. he focused on a summit in turkey where arab and muslim leaders them to as an trump us recognition of jerusalem as the israeli capital. might notggested he cooperate with their administrative efforts t

crumpton. coming to an end. tech companies are still fighting to win your heart, and more notably, your while it's. amazon, apple, and google -- the year in consumer tech. it's been a jampacked year for tech products. all the big players are vying for every part of your life. google is no longer just a search company, amazon is more than a resale channel, and apple more than ever is going with the high-end. they are releasing more and more products. x.the smartphone, the iphone without a doubt, this was the most anticipated gadget of the year and perhaps the biggest iphone up in company history. it has been a hit with consumers and is leading apple to expect a record-breaking $80 billion holiday quarter. they are hoping -- with the four k version of the apple tv, -- a $400wants to sell you high-end speaker that works well with its new pixel 2 phone. i wouldn't recommend the headphones, but the speaker, the stereo sound could be a better fit for your home. amazon is trying to be everywhere in your room and has re

mark crumpton has more.k: president trump says an agreement on tax reform very, very is quote close. his comments came as tennessee senator bob corker said he is still undecided on the proposed tax bill. worker was the only republican to vote against the bill in the senate. the president added that lawmakers are closing in on a new corporate tax bill, and that the legislation will be, in his words, extremely impressive. he also said it may allow for trillion dollars to be repatriated from overseas. the british prime minister theresa may's brains of bill is in the house of commons for a vote that could be the first one the government loses. some conservative party members want parliament to be able to alter or veto a final brexit deal, if they don't like it. the u.k. government says it's already made concessions on the eu withdrawal bill, suggesting it's not planning to make any more in order to prevent a rebellion in parliament over its landmark brexit legislation. global news, 24 hours a day, powered by mor

♪is a speech ♪ mark: i'm mark crumpton.te -- president trump today announced america would pursue a muscular farm policy. in a speech to military and homeland to care the officials in washington, the president said, "we recognize that weakness is the surest path to conflict, and unrivaled power is the most certain means of defense." also facetrump: we rival powers, russia and china, that seek to challenge american influence, values, and wealth. we will attempt to build a great partnership with those and other countries, but in a manner that always protects our national interests. ank: the u.s. today vetoed egyptian sponsored resolution supported by the 14 other un security council members that would have required president trump to rescind his declaration as -- declaration of jerusalem as the capital of israel. u.s. ambassador nikki haley called the resolution and insult that the united states would not forget. house republicans are challenging the senate with a take it or leave it spending bill to keep the government runni

mark crumpton has more. mark: senate majority leader mitch mcconnell says he does not expect the chamber to take up changes in the welfare system in 2018. he addressed the issue at an event today in washington. >> i think that democrats will not be interested in the reform, so i would not expect to see that on the agenda. and what the democrats are willing to do is important because in the senate, with rare exceptions like the tax bill, we have to have democratic involvement. mark: he landed infrastructure is a key objective for next year and that "a minimum, he expects technical corrections to the tax bill." ray dalio success the tax reform bill will provide a modest, one-time boost. he predicts the u.s. will get no long-term mileage from the bill. he called it "tragic that no significance, needed changes are being made." in delran, australia, and is to be rammed into pedestrians on a crowded street. 19 were injured. the driver and another man were arrested. police say they believe it was a deliberate act.

mark crumpton has more. mark: the u.s. is demanding tougher security measures from countries that participate in the visa waiver program that allows citizens of 38 countries to travel to the u.s. for business or tourism for up to 90 days without having to obtain visas. the department of homeland security says participating countries should fully comply with the program that uses u.s. counterterrorism information to screen travelers. it also requires countries whose citizens overstay leases to launch public information campaigns to educate their citizens. the european council president praised prime minister theresa may and e.u. leaders for their progress on reaching terms of the brexit divorce bill. he also said the hardest part is yet to come with the focus shifting to trade talks and a final agreement heavily dependent on the u.k. providing more clarity on his vision for the future. dramatically difficult. it is for sure the second phase thanbe more challenging the first phase. mark: a spokesman for prime minister may sa

i am mark crumpton. this is bloomberg. ♪ julia: live from bloomberg world headquarters in new york, in julia chatter -- i am julia chatterley. scarlet: i am scarlet fu. joe: and i'm joe weisenthal. the question is "what'd you miss?" senator bob corker makes a 180 and says that he is a yes for the tax bill after initially opposing it. as a cryptocurrency take steps towards going mainstream, concerns over an initial offering grow. meanwhile, another hedge fund victim. a $6 billion fund shut down as another struggles to reboot. julia: "what'd you miss?" the republican caucus singing a different tune. bob corker, one of the last holdouts and the only republican to vote no last time is knowing yes on the bill. the legislation now looks like the senate. through also joining corker, marco rubio who changed his vote after the child tax credit was expanded. yesterday we were saying marco , whatever he says, would vote yes. bob corker, we expected to be an no. today a very different picture. was a bigthis surprise

shery: let's check in on the bloomberg news with mark crumpton.k: president trump is calling on republican roy moore to can see his loss in the alabama senate race. the president told reporters, "i think he should. he tried." mr. trump endorsed more in the race against democrat doug jones this fight the allegations of sexual misconduct that shadowed his campaign. moore has been discussing a possible recount. united nations security council met today to discuss the situation on the korean peninsula. the secretary-general at this blunt assessment. >> the situation on the korean peninsula is the most tense and dangerous security issue in the world today. by theeply concerned risk of military confrontation, including as a result of unintended escalation or miscalculation. mark: earlier this week and envoy was deeply worried about the prospect of ending kim jong-un's nuclear weapons program after returning from a visit to the country. that unnamed members of the north koreans don't believe the time is right for negotiations. german chancellor angela me

i'm mark crumpton. this is bloomberg. shery: thank you.ly overshadowed by tax reform, another one of president priorities is being negotiated. nafta talks continue in levelgton without cabinet officials for the second time. congressman brian higgins, a democrat from new york represents a district that borders canada and joins us from capitol hill. great to have you with us. publicly opposed nafta. you have had discussions with prime minister trudeau. i've you discussed backup plans if nafta fails? first ofan higgins: all, after 25 years, nafta needs to be improved and updated. a lot have -- has changed. i think the united states and canada are uniquely positioned to develop a bilateral strategy toward the goal of bringing mexico to our labor, environmental, and human rights standards. i think that is a reasonable expectation. as a representative of your constituents in upstate new york, what is the number one thing you would like to change in nafta to make their lives better? congressman higgins: there are three words -- a three word phras

. ♪ ♪ >> i am mark crumpton with first word news.ion from the middle east to the united nations has been swift following president trump's decision to recognize jerusalem as israel's capital. prime minister netanyahu it an "historic day." >> this decision reflects the president's commitment to an ,ncient, but enduring truth, fulfilling promises and advancing peace. the president's decision is an important step towards peace. the palestinian president says the decision ins the u.s. role in the peace process and is a violation of all international laws. the united nations secretary called president trump's " and theyunilateral could jeopardize the prospect for piece between israelis and palestinians. german chancellor angela merkel is rejecting president trump's shift. chancellor merkel believes president's decision to asognize jerusalem israel's capital needs to be "negotiated in the framework of a two state solution." the president and a statement today called on saudi arabia to end its blockade immediately. mr. trump also said he di

i'm mark crumpton, this is bloomberg.o sooner had president trump former national security adviser michael flynn been indicted for lying to the fbi than the president went on offense. he attacked both the fbi and the justice department. you to give us a sense of what this may or may not mean is former federal prosecutor robert ray who served as a whitewater independent counsel. welcome back. >> nice to be with you. david: there is a lot of speculation about this indictment but what does this mean? what do we know as opposed to speculation question mark >> it's important to be careful here. thatirst thing to say is bob mueller must have some sense of where general flynn can take the investigation otherwise he won -- he would not have offered him a corporation agreement. having said that, it's a little unclear at the moment where it might be going because a single count plea to a false statement charge by a corporate witness is a little bit unusual and generally speaking, you would expect a cooperative witness to whereguilt

i'm mark crumpton. this is bloomberg.s, mark. as republicans are making their closing arguments for tax reform, how are the democrats responding in this final sprint? we are joined by steny hoyer. i just got back from alabama. i want to get to tax reform and a second. there is breaking news reporting that speaker ryan resigning after the midterm elections. what do you make of all that and can democrats take back control of the house? know what: i do not speaker ryan is thinking. he has not talked to me about it. i am not surprised. speaker boehner left because he had a deeply divided party. it made it very difficult for him to pursue rational, reasonable, positive policies. frankly, i think speaker ryan is confronted with the same environment. maybe he thinks there is some way he could more productively serve. shery: we will have to break in for a second because the u.s. fcc has voted to end obama era net neutrality. expected.idely the proposal came last month from the fcc chair ajit pai. we are getting the vote tally and

i am mark crumpton. this is bloomberg news. ♪ julie: live from new york, i am julie hyman in for julia chatterley. scarlet: i am scarlet fu. joe: and in joe weisenthal. julie: john mack in washington ways on investors. joe: but the question is "what'd you miss?" nationalousted security adviser michael flynn pleading guilty to lying to the fbi. he admitted to communicating with the russian ambassador, directed to buy a very senior senior member of the trump transition team. that number was jared kushner according to sources. in allublican tax plan would cost over $3 billion over 10 years. let's get a check on where markets stand. abigail doolittle -- no, i am doing it -- abigail is here with the latest. abigail: we are having an interesting day. the dow, s&p, and the nasdaq all sharply lower. -- lower i should say. they had been sharply lower. the s&p in the nasdaq down .5%.en .3% and the dow at a low, shutting to do points. the s&p 500, a 45-point range. the largest drop since brexit, uncertainty around

crumpton. this is bloomberg.hery: bitcoin has landed on wall street cou. cryptocurrency surged in its first session. we caught up with ed tilly on the appetite participants so far. >> at lunch, we had about 12 nonparticipants. those are registered traders. we are up to about 22. and we will not see clarity from that time, but we will see a big change. we will see that build over the days and weeks to come. shery: we are joined now with more on bitcoin. that fear shortselling at least for now. >> you can still short sell and i think you have to be a pretty brave trader to short sell an asset that's games like 90% in the past couple of weeks. in the past couple of weeks, but 1500% or more? you're talking about something like 100,000,000%. thise: bitcoin became quarter trillion dollar market cap with not just bitcoin, but all the crypto currencies. what is it now and what will it be out with all the other contracts? rob: it's about $280 billion in cryptocurrency overall, pushing 400. part of the creation of it was t

there is mark crumpton. >> u.k.t secretary david davis said he expects a deal in place soon to push the more stocks to the next level. he addressed parliament today after an agreement over the irish border fell apart. >> i believe we are close to concluding first phase of negotiations and moving on to talk about future trade relations. there is much common understanding and both sides agree we must move forward together. the negotiations remain as always, in particular on the issue of northern ireland and ireland, clear we want to protect all elements of the friday belfast agreement to maintain the common travel area and protect associated rights. >> scottish, welsh, and english mps objected over the oppression northern ireland was given preference of treatment as part of theresa may's problem for the irish border. he personally guaranteed any deals made for northern ireland would apply to the entire u.k. the united nations envoy for syria says the united nations is ready to engage with president bashar al-assad's r

mark crumpton is here with more.ark: as we have been reporting, t michael flynn is pleaded guilty to lying to federal agents. speaking in federal court as part of his plea agreement today, he said the trump campaign team asked him to make contact with russia and he told the incoming administration what he was doing. he admitted calling senior officials from the transition team for guidance before talking with russian ambassador sergey kislyak, and the reported back to the transition team after the call. a white house attorney says nothing about his guilty plea implicate anyone other than michael flynn himself. we will continue to follow this story and have more throughout the day. former fbi director james comey tweeted a bible verse shortly after mr. flynn's guilty plea. he tweeted, "let justice roll down like waters and righteousness like an ever flowing stream, amos 5:24." the u.k. is pushing back against eu demands. there is still at an impasse on the question of the border between northern ireland and the republ

we have mark crumpton.er paul ryan says the tax bill passed by the senate early saturday is quote monumental reform. as big and other republican leaders continue to praise the progress of the legislation. ryan: we passed the motion to reconcile these two bills. do, buta lot of work to they are going to get this done. they're going to make this legislation the vesting can be. they are going to make it better than what we've already seen. mark: congressional leaders are scheduled to leave -- to meet with president trump on thursday. republican leaders delay the plan house vote for a short-term budget vote to buy more time to settle gop divisions overspending and avert a weekend government shutdown. they plan to wednesday vote on the measure and that bill is designed to give agencies open until december 22. the associated press says the full house plans to debate the legislation on thursday. federal funding runs out at midnight friday. british prime minister theresa may as we emphasized are backing for spanish

i am mark crumpton. this is bloomberg. shery: coming up, stocks and the dollar, getting a boost from washington after progress on the tax overhaul. ratesngen of head u.s. strategy joins us next. this is bloomberg. ♪ shery: this is "bloomberg markets." i'm sherry on. vonnie: i am vonnie quinn. the dollar yield is moving higher today as stocks opened at focusing onestors the tax overhaul and this week's economic data. for more, let's bring in the ian lyngen, bml capital markets head of u.s. rates strategy. i won at to start off with a quote from your note today, and i think we can bring it up. $1.4 trillion tax cut deal that drops the corporate tax rate to by $1 trillion in additional borrowing from the impacty, and has a mixed on individual taxpayers. you are not exactly selling this. ian: i think it has a lot of issues as it relates to the real economy. the state and local tax issue has been talked about, particularly in the northeast corridor, but there is also this idea that there will be a tiny mismatch between what imm

i'm mark crumpton, this is bloomberg. julia? scarlet: now to washington, as mark said, lawmakers have wrapped up a massive tax package for donald trump. he said "i promised the american people a big, beautiful tax cut for christmas and with final passage of this legislation, that is what they are getting. i would like to thank the members of congress who bill,ted this historic representing an extraordinary victory for american families, workers, and businesses. we have more from capitol hill. -- theblem, so he'll problem is that voters don't seem to be getting the memo here. these comments were interesting. are dumbfounded by the unpopularity of the bill. is this a communication problem on their side? or a lack of understanding from voters? it's a real problem that republicans have. polls show that this bill is widely unpopular, some by as much as a two to one margin. let's not understate the significance of this achievement. after one year of republicans getting very little done, they have now done a variety of things to salvag

i'm mark crumpton. this is bloomberg.ins in the s&p 500, dow and nasdaq ending a four-day losing streak. pretty broad even though the actual move was modest. joe: we had a few mild days. >> and the jobs report. bitcoin may be poised to go legit. are they ready for prime time? the digital currency had one of its wildest sessions ever raising russians of volatility just days ahead of the futures debut. goldman sachs plans on clearing bitcoin futures. they will act within an agency capacity. now. get insight great to have you on. using cryptocurrencies should be considered legitimate. why? >> from an institutional interests, we are getting volatility of the currency. there is potential for new financial products in a space have some institutions struggled to find that. julia: volatility suggests that. say it is something they don't really understand. >> when there is volatility there is benefit to trade on that. they can provide that to clients. joe: you have the word block chain in your title. it seems to me for the last se

i'm mark crumpton. this is bloomberg.let's get a recap of today's market action.we started off with gains and they slowly faded through the trading day. now we can see the dow and s&p and nasdaq closed down off of their lows of the session but the nasdaq still the performer here. tech stocks did not fall as much. julia: "what'd you miss?" let's go back to the global media and communications conference in manhattan, where our new york bureau chief and executive editor jason kelly is standing by once again. taken away. away.e it jason: here i am again, and i am joined by a man very much in the news of late permanent that is the chairman and ceo of meredith. nice to be with you. >> thank you for having me. jason: you have been in the news about one of the most talked about acquisitions of the year of time magazine. what are we missing in this deal? what have you been telling the group here? is a: well, i think there number of amazing opportunities as a result of this combination. first of all, the ability to serve over 200 m

i am mark crumpton, this is bloomberg.re breaking news, fedex reporting results have boosted its full-year forecast in second-quarter adjusted eps, $3.18. analysts were looking for $2.88. the revenue exceeded the average analyst estimate. peak season. fred smith the ceo says we are on track for another record holiday shipping season. julia: "what'd you miss?" newest campaign slogan, how was your 401(k) doing? he had a fundraiser, rally and white house meeting. they think his reelection chances are rising, with stocks rising and retirement plans. the only problem, most voters, especially those in his base, do not have one. alex, i am hoping you can explain the strategy. i get pointing to something that represents positive sentiment about the united states. but when some people directly own stocks in the united states, is this a good message? the president uses a stock market as a proxy for his approval rating. it is a better measurement from gallupspective, than poll's, which show he is only approved by 35% of the voters. h

i am mark crumpton. this is bloomberg.lectric will cut nearly one in five positions at its power unit, resulting in 18% being lost.orce customers are turning away from fossil fuel-based energy sources. ur reporterore is o that has been following the story. who should be blamed for this? >> it was not the best timing for that deal. the market has really been struggling and when they 2014, it tookarly over a year for them to close that deal. by that point, they added tens of thousands of new workers and expanded that business at the worst possible time. vonnie: did they just not transition enough? maybe there is it based -- is a string to be drawn. ge is still in the old technology business and we are moving toward a renewable world. >> they do have a renewable business. they are trying to build that up. the deal actually will benefit them. a netot necessarily positive or neutral for ge if they transition to renewables, because they don't have a strong opposition in that market. they do have a good position in wind energy, b

crumpton. this is bloomberg.ax bill a couple she is a lot of what corporate america has wanted, lower tax capital investment. we welcome one of those who has advocated for such changes. she is carolyn harris. she joins us from washington. welcome back. you look to please the last time we talked, you must be happy now. last time we talked, it was about corporate minimum tax that got repealed. is there anything in this bill against what you wanted? caroline: we are talking about reduced rates for businesses and globally consistent system. that hit a home run. on the individual side, you are talking about more money back in the pockets of the american people. across the board, this is a home run. isry: the 21% deduction similar to the senate, it is smaller than 23%? is it a win? caroline: if they reduce the marginal rate, at the end of the day the numbers will be similar. david: some of these things will phase out what is the possibility? does it give your member some pause because they like to plan for longer than

i'm mark crumpton. this is bloomberg. scarlet: thank you.day's market action. we have a mixed read in stocks. the s&p 500 climbed to record highs again. the nasdaq finishing lower, chipmakers down by quite a bit. joe: very similar -- you see it at the bottom, record highs again. kind of a broken record. scarlet: we are pushing ahead to tomorrow's decision as well. lower, chipmakers down by quite a bit. joe: veryjulia: some news crossn bitcoin. interactive brokers group let bitcoin bears bet against the futures contract. more.hyman is here with we were just talking about this. julie: this is news we have exclusively here. the interactive brokers will allow this. what is interesting is we talked to the chairman yesterday. he was really struggling with this, whether to allow this. his big concern is eventually there could be a short to the upside which could put at risk the clearing organizations, whether it be the cme or nasdaq down the road. joe: obviously, there are clients of interactive brokers who want bitcoin futures. do we have any sens