morgan's david hensley saying that the next step for the united states is to get a coalition, perhaps others who do not like china's actions on trade over the last few decades to enter into a coalition to perhaps five china on their trade practices. anna: so we moved from u.s. isolationism to some form of cheney's estimation is so much, bloomberg's chief asia correspondent, stephen engle. welcome everyone to daybreak europe. overnight, the msci asia-pacific index off but went 4%, the nikkei closing by its highest since 1991, the hang seng underperforming, done more than 1% after reopening after the holiday. brent crude is holding above 85 dollars a barrel. above 75, and we have data from bloomberg showing that iran crude exports dropped even before the sanctions. , but witho lifted some dissipation of the trade tensions yesterday, the u.s. mca, you can say that gave it a bit of a lift. the euro is also on a fourth day of declines. up by a 10th of a percent, starting to get a little touch here, not quite what we have seen in the btp's. we saw the 10 year btp just 15 this is whence yest

morgan. they don't want to stay in mexico. david: back me up on this.t's very difficult to get asylum, but be able to work in mexico if you're from another country. the new president wants to change it. appreciate it. good to see you. coming up on "bulls & bears," both republicans and democrats are demanding that the u.s. take action against saudi arabia following the death of journalist jamal khashoggi. what is being considered right now is we are hearing more from saudi arabia? >> we were determined to uncover every stone, german to find all the facts for this murder. if you want a car from a company that's been building them for 115 years, get a ford. if you want a car with driver-assist technology, standard, get a ford. if you want waze and amazon alexa compatibility, get a ford. if you want a car that doesn't have any of that, get anything... but a ford. otherwise, you're gonna want a ford. ♪ benjamin franklin capturedkey lightening in a bottle. over 260 years later, with a little resourcefulness, ingenuity, and grit, we're not only capturing energ

david dalkeús son in law rich morgan has been in a tough battle with cancer... fe julie never forgot their favorite pizza place in battle creek michigan, where they lived more than two decades ago david dalke/richús father in law"she talked about it through the years, she'd say 'no one makes pizza like steve's pizza.'"last month, the couple planned a long overdue trip back to their favorite pizza spot, but instead, richús cancer kept him home, now in hospice care. david dalke/richús father in law"so they never made it... they never made it to battle creek."brett kast/reportingso dave thought what the heck, might as well give steveús pizza a call... so he did, and dalton shaffer picked up on the other line.dalton shaffer/steveús pizza employee "he was asking me if i could send a letter or a text message to his daughter kinda like giving her our condolences for the situation and everything going on." but... working the late shift on a saturday night, the 18 year old had a different idea...he offered to deliver the family two fresh pizzas. david dalke/richús father

david: anastasia amoroso and j.p. morgand lori calverley -- and lori calvasina of rbc capital markets, thank you for being with us. now we turn to taylor riggs with "first word news." arabia has opened an investigation into the disappearance of journalist jamal khashoggi at the consulate in istanbul. people could be held accountable if the evidence warrants. the king ordered the information -- investigation probably from information received by turkish authorities. questioning their place in the cryptocurrency dollar peg. tether has broken its historically tight -- with the dollar. it has been trading for as little as $.95, fueling a rally in other digital currencies including bitcoin. former trump economic advisor and goldman sachs president gary cohn has a new job. he will serve as an advisor to blockchain technology startup spring lab. the company wants to use the technology to allow lenders and data providers to obtain credit and identity information more efficiently. global news, 24 hours a day, on air and at tick toc o

jim caron from morgan stanley, david lefkowitz from ubs thanks >>> when we come back, soybeans gettingade war. >> reporter: farmers are facing a glut of grain out here in the heartland, guys. xtyowhcongp y mi u ne >>> welcome back to "squawk box" this morning this year's record soybean harvest getting hit by tariffs ylan mui has been checking it out this morning good morning >> reporter: good morning. you see this truck behind me it is filled with soybeans the farmers who farm this land were out clearing the crop until 1:00 a.m. this morning this is expected to be a banner year for soybeans. 4.5 billion bushels expected to be harvest ed this year just at the same time demand is bottoming out because of the chinese tariffs. >> best case scenario now would be that we have profitable talks with china and at some point put this tariff retaliation on our soybeans behind us >> reporter: that was mike beard. he is hopeful that a bigger harvest will offset some of the pain from the lower prices but he is expecting a glut of grain this year. he's going to need to put it somewhere. storage silos

i'm carl quintinilla with morgan brennan and david faber at post 9 of the new york stock exchange dow half of the bounce we got yesterday as we pay close attention to earnings. netflix, csx, ibm, ual including al co- what. >>> looks like that volatility is far from over stocks are down after the rally. have we hit a market top we'll discuss. >>> plus, the president is getting ready to negotiate new trade deals with partners across the globe. u.s. commerce secretary wilbur ross is going to join us exclusively. >>> and canada legalizes recreational marijuana we'll bring you up to speed on the wild swings, most of them down, of those pot stocks and talk about the future of the industry. >>> first up, markets are cooling off after yesterday's rally. the dow down triple digits last night. billionaire investor david rubinstein joined cnbc's "net net" giving his take on the economy. holding on your assets, the u.s. economy is still a good economy. >> there's no better place in the world to invest in the united states. transparency, rule of law, quality of the exit students so i wouldn't put

david: maddie gessner of j.p. morgan will be staying with us. p, an exclusive interview with dwight scott. this is bloomberg. ♪ david: erik schatzker in london for another exclusive interview. eric:? with -- i am here with dwight scott. good to see you. >> good to see you. the target.k at treasuries are backing up. credit spreads are widening. widened by 30 basis points in the past week alone, are cracks starting to show? in the economy is a time to be cautious. the things you mentioned are after a year of tightening spreads in high-yield, tightening spreads in pieces of the market. you start to see treasuries at three and a quarter were at a level people were going to be nervous about. that is where we are and you have discussions about growth from their so we have a lot of conversation about what happens of treasuries go to five and we think that means you are to be cautious in fixed income, particularly high-yield. those are places where you need to be careful. erik: is the treasury headed to --? dwight: the economy is strong. you see that in

david: ok, liz young. thanks for being here. coming up, morgan stanley's emerging market fix. k with jonathan garner. that's coming up. this is bloomberg. ♪ david: today it is turkey, yesterday it was indonesia. there was some emerging market in the crosshairs. when is it time to move back into emerging markets as an investment? >> higher all prices. stronger dollar. slowing growth and tightening financial conditions are not a great cocktail foremost emerging markets. in the short-term, the careful. this is not the time for the anti-divergence trade. >> emerging markets has had disappointing returns. earnings estimates are not holding up. evaluations are becoming stretched on the cheap side so this is a time to do homework. china isimulus that pursuing now will begin to be seen over the next 3-6 months. that should left markets as well as the end. -- is seen as a dangerous place. there was going to be a day where em is going to be the hottest asset. david: welcome, jonathan garner. he is emerging-market equity strategist. where do you weigh in on this? is it time to get in busi

morgan. >> there was, david.utting its dividends from a penny to hang on to more cash, delever the businesses one of the first big moves from new ceo larry culp who basically said look, i've been on the job 30 days. i'll share what i can but expect a much bigger update in early 2019 exit baker hughes over the next few years. he did note that the timing might change culp also announced struggling power businesses or business, excuse me, two business reporting to him big focus on the call today saying he's spending most of his time on that right now another big topic, ge capital, especially in light of the fourth quarter insurance reserve review that will be coming up. ceo noting as that unit shrinks, ge may need to support capital further if necessary to achieve capital levels or execute options around that portfolio. other big headlines around the call, no plans for equity raise, no up guidance and lastly news that the s.e.c. has expanded its ongoing investigation to include the $22 billion goodwill power charge

welcome back to "squawk on the street," i'm carl quintinilla with morgan brennan and david faber at thestock exchange sara has the morning off dow is down 25 points after the worst week since march, obviously. earnings season takes off, watching the president versus the saudis here. sears chapter 11 and more. >> our road map starts with stocks falling as the market tries to recover from last week's steep drop. has the market topped? we'll debate that next. >>> the president says he's sending the secretary of state to saudi arabia within the hour. >>> and what was once america's largest retailer, sears filing for bankruptcy will give you the details. >>> a warming coming in from hedge fund managers who believe the market has topped. listen to "squawk box." >> the outlook for the market in my opinion isn't nearly as good as it was. you probably don't get a peak of substance in the market until the end of 2the economic cycle i in sight but i think we've had the bulk of good gains. >> you're feeling like at this point we paid it forward all these good things that happened are reflecting in

the equities will stiff-armed morgan stanley. david: there is a goal for return on equity.

david asman. turning us on the panel is morgan ortegas, global opportunities advisor cofounder and maverick pat cochair he is cochair of bs founder

david is a partner with morgan lewis, ann is the president and ceo of board source. christine is an associate professor at georgetown university's mcdonough school of business. rob is the vice-president of ever shine. and mary from the university of virginia darden school of business is the creator of giving voices to values. thank you all for being with us today. today's meeting will consist of one panel and then we will open the floor for questions and comments from the members of the commission. panelists, you'll each have six minutes to make your oral presentations today. your complete written statements will be available on our website. www.e w wab.e ech wab.eeo wab.eeoc.gov. and we have the timing consolesment and we have timing lights, also. the red light will appear when your allotted time expires. we will take a short break after all panelists have broke and and resume for two rounds of commissioner's questions and comments. we're pleased to of an exception l a panel today and we thank you for being here and we'll begin with ms. baez and miss heron. >> thank

morgan. >> for more whn on what david solomon said and "closing bell" you had head over to cnbc.com. you are fachs "fast money" on cnbc in the meantime here is what else is coming up on fast. >> announcer: the tech trade is be cracking. and the top technician says two names are about to breck he tells us what they are and why he is so worried plus. >> i love gold >> you might love the precious metal. but there could be a new safety trade-in town driving the gold bugs wild. >> oh, behave. >> we'll explain much more "fast moy"ft ts.ne aerhi >>> welcome back to "fast money. the tech wreck rages on with the sector now down 7% in october alone. our bob pisani joins from us the nyse with more on that hello, bob. >> china worries, higher costs, other margin pressures, higher rates, coming together to make it an ugly month for tech investors. look the biggest damage sectorwise is in the semi conductor. big names are down double digits you see here but hardware isn't doing better. corning and fit bit and seagate down 8 to 11%. apple unskagd down 5%. software is only marjly better, oracle, ado

morgan brennan. with me at post 9 is sara eisen, david faber.d jon are off this morning. >>> markets are rallying with the dow and s&p set to break what would be three week losing streaks, despite yesterday's selloff, as volatility continues. what can investors expect in the weeks ahead? joining us, chief investment strategist at charles schwab, and global portfolio manager at blackrock. we have concerns about rising rates, perhaps too aggressive fed, china trade concerns which seem to come and go and effect our market here and there. what are you focused on and what do you think is going to bring the next few weeks >> on the rate front it's all well told about the backup and long end of the u.s., i think what's less discussed is the tightening liquidity pattern first couple years after they raised rates, we saw loosening conditions, they're now tightening we have less liquidity in an environment where global growth is slowing on the trade piece, one of the things unsettling for markets in the last couple of weeks is that actual companies are co

morgan today is my, i guess, it is my second-biggest holding after home depot. ♪ david: where do younk capitalism has worked the best, and by that i mean, not for the individual, but for the country? ♪ >> when we look at it from a african perspective, investments coming in to our infrastructure are very welcome. whether it is american, chinese, european. they need to make us more competitive. to get connectivity, to get our product out there. this thehat through market can be opened up. >> everybody has spoken about extract diplomacy, to get control of strategic assets, is very unlikely scenario, because the overall trade benefit. brought to you by standard chartered bank. ♪ david: capitalism, you love capitalism. ken: i adore it. david: that is what your book said. why? ken: because it works. david: does it work? ken: absolutely. david: how do you know it works? how do you see that? ken: i know it works by virtue of my own life. you know, my father wasn't a capitalist. he was a union plumber. he did not make much money. my mother worked in a school cafeteria. so the only money they

david solomon. groupvestment banking posted an unexpected 10% gain. we ran the business for a decade. morgantanley was the only wall street firm to beat expectations in three main businesses. morgan stanley avoided the slump that weighed on larger theetitors and reverse stock slide. morgan stanley shares were down 70% -- 17% year today. will keep its focus on coffee and not cannabis. tomorrow canada will become the second country in the world to legalize cannabis. and that's your latest bloomberg business flash. extending gains today. we are joined by john authors. very happy to have you back. pound traders are really grasping at straws. . brexit is really the issue that's going to decide the level of the pound in the coming month. yes. there's no other possibility. we are now allegedly within five months of the deadline. of course the european union is extremely good at setting deadlines and extending them. plainly some fairly major someions are going to have major market impact have to be made in the next few weeks. i suspect at the moment there is a degree of excitement because it looks t

david: all right, thank you. howard weighing of j.p. morgan -- wang of j.p.ment. people bracing for follow from the shadow banker. going to mumbai to ask what it leads to. yvonne: clouds are gathering over italy as the budget remains on a collision course with the e.u. the architect of the euro this is bloomberg. ♪ the deputy italian prime minister is shrugging off european commission attacks on their fiscal plan, saying people are tired of austerity. as discussed the implications. this person spent a decade at the german finance ministry where he helped prepare for the monetary union. we talk about italy, when you look at the eurozone, it has been growing above potential. is it sustainable given the challenges especially with trade? >> economic developments are good, the crisis is behind us. even greece left its adjustment program in august, so we have five countries that needed financial support. they are all doing well because they put in place many reforms. europe as a whole is growing at twice the pace of the last few years but cannot continue at growth

green light from morgan stanley, the electric car company's early earnings report is most likely a good sign. they are expected to report third-quarter numbers today. .or more we have davidould you agree with that analysis? early means good news? >> i think so in this case. theyll of foer like this have good news to report. i have to believe they have good news, they went through a lot in the third quarter to produce a profit that elon musk predicted. we think they will come through with good news. shery: if they show a profit, when will they need to go back to the capital markets? we will have to digest and dig into the earnings report. we will be looking at what is the gross margin they were able to achieve on the model three in the third quarter. they were guiding towards the midteens, around 15%. and what is their cash flow? this determines how much cash as they actually producing that they can use for their capital expenditures and to keep the company running, so they don't need to go back to the capital markets. that is what elon musk has been forecasting, with model three production ramping up they will not need to go back to capital markets. , and theing report c

. >> facebook cfo david wehner saying they will grow 40% to 50% in 2019. j.p. morganement indications of less margin compression after next year. now, safety and security is a big part of facebook's growing investments, zuckerberg saying they won't be where they want to be in terms of protecting users and preventing abuse on the platform until the end of next year. >> we won't be perfect because, you know, there's more than 2 billion people are communicating on the service, there are going to be things that our systems miss, no matter how well tuned we are but i think we're making progress, we've made a lot of progress in the last couple years on content overall, elections are a special case, an extremely important special case of the content and safety issues and security issues we face. >> zuckerberg saying next week's midterm elections will be a real test of the protections they put in place back over to you. >> julia, thank you very much, big story today. >>> as we go to break, another check on the markets on this final trading day of october this is back-to-back

thank you david leibovitz and ed campbell we're having that guy from morgan stanley on later.ou take morgan keagan, jpmorgan -- there he is. >> morgan keagan has been gone a long time. >> that's sad. we used to have an analyst on from there i can't call him currently unavailable. >> somewhere within one of those southern regional banks. >> i worked at e.f. hutton smith barney >> creative destruction. >> is it >> all right >>> we have corporate news mon mondelez shares trading higher they posted better-than-expected earnings in organic revenue growth results were helped by higher prices and cost cuts >>> texas roadhouse shares are getting punished after earnings fell short of analysts estimates. higher labor costs they say are continuing to effect performance. >>> and akamai getting a boost this morning earnings and revenue topping forecast driven by its cloud security business. the company announcing a $1.1 billion share buyback plan >>> when we come back, forget pap paperbacks and e-readers, author james patterson is releasing his new book on facebook messenger he's going to

and morgan radford is joining us from ohio and charlie sykes, contributor to the weekly standard and also david wassermann, the editor for the "kirk reporter." and now n is so reporting, and it gets to the core of what the democrats are saying is a major issue for them and whether they have can or have communicated it to the voters is the next question. >> that is right, andrea, and this is an issue that the people are impacted by personally. so you can see that we are in lebanon, ohio, ahead of the president's rally tonight, and hours before the president has come, people are lined up with the maga hats and flags, and so you can see kind of the sup oport that he has in this area, and we have been talking to the voters, andrea, and asked them what was the most important issues they cared about and most people said health care, and a lot of the republican supporters said they believe the president or take him at his word that he is going to protect the people with pre-existing condition, and that on the other hand, we talked to the other voters last night, and they said that they cannot afford t

report a first earnings reports under david earnings per share expected to rise 7% from a year ago with revenue climbing 1%. >> and we're also going to be hearing from morgantanley and analyst looking for earnings to rise 15% with revenue climbing nearly 4%. share goldman sachs, of course, a dow component town 16% so far this year. shares morgan stanley down about 17%. maybe that will turn things arktd around for stocks today. >> two three earn sings they're doing better than expected stocks are not climbing. smg interest rates can be good for these guys. j all eyes on netflix today subscriber growth in particular netflix reports third quarter earnings. >> tracee carrasco has those headlines this morning. probably the biggest report -- >> thet flix is hoping that subscription numbers have improved fell short of the projections by one million last quarter. looking for any clues to its upcoming content which is key in keeping ahead of competition. shares of netflix are up over the last 12 months in trading higher. right now in the premarket, fake a look at that on your screen. they fell yesterday. >> they dean a lot of pressure on that company. as technology

morgan is down at 1.5. >> did you have any sun glasses, david?> no. >> jamie dimon reported a good quarter. >> the banks have been a horrible place to be this year >> goldman is going to be turning the corner and people can careless about that for haven's sake >> did he say something good object goldman turning the corner >> did he say something good about goldman? >> apparently. >> he has lost his mind. i am in charge here. >> again, we are down 1.5. >> we got to move on, david. >> almost half of the loss of the dow right now is just 3-m and cat. let's get to bob pisani. very good point. >> industrials and some of the tech sectors, 8-1. at the open, carl, that's not quite 10-1 that's a good flusher to start out. we did get to the 2710 level we look at the sector, it is the sector that are hit. you have semiconductors and industrial name and staple like procter & gamble, they're aliena aliena alienaal all flat right now harley davidson remains their shipment forecast. caterpillar, they did not cut anything verizon of their full year guidance bear

david: there is that story and why we are seeing the stock's oil related. see notes,ins to they had production numbers come out yesterday. that is keeping analysts like morgan bullish on the stocks. that is the story as far as oil counters are concerned. oil prices down, it was a big move overnight. thing, you have earnings out, they look good. resultss are lowered on . speaking of cutting the price target on a stock, jefferies out with a cleaver here, 62% price target. when you look at the lens business, and the risk that that poses as the bigger pie is concerned, what jefferies did to give you an idea what the price target is now, they cut it from $169 to $65, and that is where we are trading at the moment. you get an idea of what jefferies is up to their. a lot of sharp moves. rishaad: slashing it. yvonne: [laughter] david: 62%. singapore is taking a different approach. yvonne: the managing director spoke exclusively to bloomberg about how the central bank is working with tech players and managing risk. >> if you cannot get innovation right or regulatory, and in the regulation space we are where in a framework players,ers -- fintech we regulate commensur

morgan stanley has the inside track. that's why -- they're up 13 bucks. liz: over the weekend. >> interesting it is up that much over the week. odd thing davidould come out that public, only thing i can think of he has clients there you have to say something, stand up against what is going on with saudi arabia and then behind the scenes sending his representatives down there to smooth it out with mbs and the rest of the saudi royal family. wall street will tell you one thing and do something else. i find it fascinating that goldman sachs took it to another level. liz: president trump talking about saudi arabia. let's listen in. >> it's a very serious problem. these people will be very much involved in this directly and indirectly. that is something that we don't like. very serious stuff. and, we're going to get to the bottom of it, we'll make that determination. congress involved in determining what to do. do you remember with justice kavanaugh, i said, hey look, the senators are doing a great job. senator grassley, lindsey, john cornyn, all of them, senator grassley, lindsay, john cornyn, all of them, every up with of them, i said let them

morgan stanley. that says to me that investment banking is not dead. nejra: beyond that, talking about goldman, what did we learn from those results in terms of what it means for davidon? was theavid solomon investment banker as opposed to trading, very much associated with lloyd blankfein. i looked at some of the conference transcripts, and one of the big executives there was saying that the bank identified 1000 companies they hope to gain shares with, aside coverage to 80%, and the bank seemed pleased. of whates you an idea they see coming out of corporate america. matt: let me jump to the political angle. it seems like the big banks are doing fairly well. corporate earnings are pretty good. how much does the administration , for example, the new tax legislation, have to do with this? the taxveryone thinks legislation boosted the bank numbers. it remains to be seen whether that is a sustainable job -- jump. the euphoria in the stock market has burned off. tryingore about people to discount the very optimistic things they see with employment and the lingering worries this could be as good as it gets for profitability and bad loans. nejra: that's one of the big ques

morgan stanley and deeper concentration control. on the goldman sachs call, the new ceo addressed the possible new strategy under new ceo david solmanmitted on executing the growth opportunities we laid out for you a year ago i will provide an update on these efforts in november. second, we are reviewing all of our businesses, front to back, to ensure that our people and our financial resources are optimally deployed our objective is clear, to improve shareholder returns. this is why david, john and i, along with the rest of the leadership team, will look for new ways to grow our businesses, while improving our operating efficiency for the long term. >> for more on the new strategy, we tune in to closing bell thursday for an exclusive interview with the new ceo david solomon. guys >> i'm wondering if any of the executives on the calls you've been monitoring have taken questions or have addressed the market action. even with today's gains and better results, financials are lagging the overall index in terms of sector performance. they're supposed to be the biggest beneficiaries. is there any chatter about that and underperformance we

david, your house loses val value -- do you check your house on zillow? it went down last night. >> i am looking at jp morgan numbers and listening to the calls, does not sound like things are poor right now. >> he is using the term "so far. >> they had a return on intangible equity and credits seem to be solid our capital is going in the right direction. i am just talking jpm here >> totally agree that quarter was a good quarter but you know what i deal with in a world right now because someone was saying the other day china is a really good numbers no kidding you know how much buying was done ahead of the tariffs? >> a lot >> so their numbers are inflated >> a lot of people and a lot of people have been taking inventory because they want to beat the 25% tariffs coming. >> that's one argument why we may see strengthen gdp last quarter on this. you had an interesting tweet over night regarding the chinese stock market commonist dictator ship taking out -- >> you have no i am empericempe evidence of this, right? >> they just stop trading. >> oh, they delayed it >> oh my god >> volatility. >> you know what i a

david: thank you. you will be there and i do get to be there. he is our supreme court reporter from the steps of the supreme court. alix: coming up, morganin the towel on its the long treasury call. watching,. am this is "bloomberg." ♪ alix: here is what i am watching, yields. morgan stanley throwing in the towel on that go along for the 10 year. treasury, hitting a seven-year high. hsbc, morgan stanley had it right for a while. going tohe cost we are see if you take a look at they moving averages. ? 75% is going to be a pretty important level. above that, you're looking at 3.5% on 10 year yields. one of the things that is important is tomorrow's auctions. we have three-year and 10 year bills auctioned tomorrow. if they see strong demand, it could mean we hold this level. given how weak the market has been, there is a risk you wind up with weak demand and higher yields and you wind up being in , up to 3.6%. something else important to note is that most of this move has been in real yield. this is not because people are worried about breakevens. people are worried about supply, faster growth, and larger deficits in the future. if the demo

morgan stanley and goldman sachs did for the equity underwriting, and citi's debt underwriting. at $120 billion. >> people were looking towards these earnings. there a little side stories. davidirst report. investment banking coming in very strong. people are still bullish about dealmaking and maybe some big ipo's coming on the line. uber and lyft. wanted tosaw uber raise $2 billion in the debt market versus $1 billion. reversing that conversation. >> it is amazing how much enthusiasm there is around this. from an uber and lyft ipo perspective, these are the holy grail ipo's, setting saudi aramco aside. who knows what happens now with that given everything going on in saudi arabia? these are the big kahunas. they will set a new standard presumably next year or the following year for what a big ipo. in wall street. david: let's turn to tesla. --ettlement designs gentleman designs for assembly. he took some model 3's and took them apart. on the bad side, peaked in making a lot more money but he's making it in a very clunky way. multipleo much frame, parts riveted together when there should be one part. says, why arelly you making the so complicated? what i recalled was business

morgan, wells fargo and citigroup who revealed lower bad loan costs. american borrowers keep meeting obligations even as interest rates go higher. this could benefit now in a healthy retail season. davidhe outlook of lenders. rates,mpact of rising loan growth and macro risks like the u.s.-china trade war will be key points to look out for with bank of america, macon -- morgan stanley and others reporting. bank of america reports on october 15, and eps could jump 29%, but revenue could fall 2%. that's as the bank delivers on cost targets with expenses expected to be in line at trading revenue could be muted compared to a year ago with a stronger u.s. equities prices to help. morgan stanley, fees could bolster it with strength. earnings could rise 15%, but looking at other regions and products, weaker trends might way. a stock and bond a selloff is raising questions about near-term revenue outlook. that is a concern over at goldman sachs. the closings of m&a deals could push revenue into the fourth quarter. revenue is expected to be flat year on year. eps could jump 7%, but that would mean the bank would like behind its biggest peers. questions on strategy could be waiting for a new ceo

alix: dan morgan, thanks very much. , the cfoon twitter will join bloomberg markets today at 3:30 p.m. eastern, the question will these numbers be enough to stem the tide. can they do it? davidthe vix story is the diversions in tech. , ubs pledgingp higher wealth management profit. we hear from the ceo next. this is bloomberg. ♪ alix: this is "bloomberg daybreak." stabilization is the name of the game. the nasdaq closing after a correction yesterday. dax a little weaker. in the other asset classes, still a stronger dollar story permeating in the markets. what we will see with the ecb? yields up by about three basis points. ubs shares up. nejra cehic spoke with the bank ceo sergio ermotti about his plans to revamp the bank. >> in the u.s. are next focus will be on developing our ultrahigh net worth offering and enlarging in bringing our expertise that we have globally on that area together with the family offices. and capping a market that is very promising for us -- tap ping a market that is very promising for us. we literally touch the u.s. persons outside the u.s. in the last 10 years. i think this is also a very nice opportunity. $70 billion around closing in the next two