david: i'm david westin.ow let's get to the first word news with mark crumpton. it appears president trump and senate republicans have picked up a key vote in their attempt to pass tax form legislation. lisa murkowski says she is likely to support the bill. the gop is trying to hold onto all 50 votes in the senate with the democratic minority in the chamber likely in opposition to the measure. mitch mcconnell says the republican tax bill is good for small business owners. during a press conference with small business representatives, he said he hopes the legislation clears the senate this week. >> we are excited about this opportunity, it's been 30 years since the tax code was don't want in such a comprehensive way. code and inform that make america more competitive. we don't want to leave small businesses behind. mark: small business administrator linda mcmahon says small business owners tell her that taxes are choking their businesses. challengers to the trump administration travel glad are urging the supre

westin.'m daviders are escalating efforts to force roy moore out of the senate race. speaker ryan addressed the controversy earlier today. speaker ryan: he should step aside. these allegations are credible and if he cares about the values and the people he claims to care about, he should step aside. david: that echoes senate majority leader mitch mcconnell's statement yesterday in which he called for moore to step aside. again, give us a sense of how it is playing in alabama. there's another accuser who came out yesterday and we have increasingly republican leadership: for him to step down. is that having an effect on the people in alabama? >> people are still reacting the same way, as these allegations come out, it is why is it coming out 30 or 40 years later, why did not come out when he was running for governor or the supreme court. we are still seeing more core basic with him. and a quinnipiac poll contradictory earlier polls, showing him 10 points ahead, where that two polls over the weekend sho

david: i'm david westin. has its version of tax reform ready for vote later this week. today, the senate begins marking haves own bill to something to vote on next week before the things giving holiday. democratic senator maria cantwell of washington will be in the middle of that process as a member of the senate finance committee. we welcome her from capitol hill. good to have you with us on bloomberg. senator cantwell: thank you. david: for those of us who have not had the pleasure of sitting on the committee, explain to me as a democrat, what role did you have in this? the senate seems to be running as a republican operation. senator cantwell: it is unfortunate. if you think about the 86 tax bill and you look at the history it went through, it was a very long process in which a proposal was looked at and reviewed i many people, adjustments made. there was a lot of by and, i was your showto some of in which people were saying even if they did get something passed, it would get repealed. what you want out of

david: i'm david westin.mark crumpton. >> majority leader mitch mcconnell says the senate will vote today on beginning its tax bill debate but there is still concern regarding potential fiscal trigger that would impose tax increases as the proposed overhaul doesn't meet revenue targets. recently through support behind the bill and spoke today to bloomberg television. >> we actually craft a progrowth tax package we shouldn't even have to worry about this trigger. hopefully it will be designed just slightly increases everybody's taxes a little bit across the board and doesn't really address or attack once after of the economy. just as a fallback in terms of at a deficit. i share your concern. the last and you want to do is raise people's taxes. >> trigger being proposed by bob corker. disagreements with congressional democrats over key elements in the proposed legislation could still trigger a government shutdown. president trump says he has spoken with chinese leader xi jinping about north korea's latest missi

david: and i'm david westin.crumpton has the latest. president trump signaling that he will be personally involved in the final push to get a tax bill passed. he is having lunch today with members of the senate finance committee. he tweeted that the finance bill needs just a few chances -- changes to receive great support. senator rand paul says he will vote for the bill but still, he says, he would like to see a larger tax cut. heavy flooding near athens earlier this month. insufficient that flood prevention members have been blatant for much of the damage. --nmar, they were original plunged into the crisis. a military crackdown against rohingya has forced 620,000 there to fleet of bangladesh. ringingbells will be for the british royal family next spring. is engaged to an american actress, meghan markle. he's fifth in line to the british throne. she is best known for her role on the tv series, "suits." her ring includes two diamonds that belonged to harry's mother. i'm mark crumpton. this is bloomberg. mark. tha

david: i'm david westin.ord news with mark crumpton. u.k. lawmakers are urging the theresa may government to formally cancel the state visit that was extended president trump. this is in the wake of the ongoing fall out over his reach weeding videos from the u.k.'s far right group britain first. and another one lashing out at prime minister may for criticizing him. she was the first world leader to visit the trump white house. u.k. says the visit still stands, although the u.s. has delayed the trip because of concerns about the potential scale of protests. the house of representatives' -- is the latest lawmaker to express discomfort over including a fiscal trigger in the gop tax plan. the texas congressman spoke to bloomberg tv today. >> those of us in the house are not that thrilled with the text trigger. i personally find it to be a bad idea, and i think it is bad public policy. we need to be able to tell corporate america and our small businesses, this is your tax rate, this is something you can count on.

david: i'm david westin in for david gura.n day for two states could test the political influence of president trump. in virginia polls show democratic lieutenant governor ralph northam with a slight edge over republican ed gillespie. in new jersey democrat philip murphy is expected to be republican lieutenant governor by a large margin. voting results could give an early indication about how next november's midterm elections could play out. president trump's fed chair nominee jerome powell have to wait until after thanksgiving for his senate confirmation hearing. the chance that powell will testify in front of a senate banking committee before november 23 is unlikely but hopes are to move quickly, meaning in a matter of weeks. opec index that shale oil production in north america will grow faster than expected in the next four years. the shale industry will produce 7.5 million barrels a year by 2021. that's 56% higher than opec forecast a year ago. the out put cuts this year triggered a price rally that helps american produce

david westin, we handed over to you.: thank you to all of our viewers and listeners on bloomberg radio worldwide. we are joined by lloyd blankfein, chairman and ceo of goldman sachs. good to have you. we have a lot to talk about, including the sustainable finance forum. we have to talk about this awful attack that happened less than two days ago. as you said, less than two blocks from here. i thought you put it particularly well. it is a challenge to act normal in abnormal times. how does a leader do that? you have to recognize the horrific acts and how it affects your employees, but at the same time continue with your business. lloyd: there is no real collaboration you can do. there is no choice but to go forward. you cannot submit to it. exceed tonot want to the "terrorists" would like you to do, and life does go on. there is an appropriate time to mourn and expressed regret and show appreciation for we have. but it is a terrible situation, but it is that abnormal times -- it is abnormal times. in new york city you are

that was david westin. todayn reaching new highs , $11,000, the big question is -- is it a bubble and when will it pop? this is bloomberg. ♪ vonnie: this is bloomberg markets. i am vonnie quinn. shery: i am scarlet fu. vonnie: bitcoin has it $11,000. someone sound alarm in an interview earlier. >> bitcoin is successful only because it's potential for circumvention. a lack of oversight. it should be outlawed. vonnie: joining us to discuss is our editor at large cory johnson. usually skeptical about these things, i would imagine he is skeptical -- you are skeptical? >> bitcoin is not widely understood by of skeptics and people buying it will expect a greater full to buy it. when we look at financial instruments, we have to appreciate the differences to see what we are talking about. sometimes i get assigned these things because i am of dutch descent. it was about bidding for a bold bulbup with a white -- with a rare genetic deformity which led to insane prices. understanding what bitcoin is get people excited

david westin joins us. david: we are joined by sharrod brown. we welcome you back to the program. let me start with a broad question. senator: we know the white house hasn't -- doesn't know the independence of the fbi or the .udiciary here it he was reassuring he will not put up with that pressure. i want to believe him. i don't think he is lying to us. the white house will try to put pressure on him, especially on regulations. we have bank rules in place. the fed has bank rules in place that have made the system more stable than it was a decade ago. i know the president has put a lot of week regulators, wall street bankers in these other agencies. will try toed he manipulate him in the way the president has tried to do that elsewhere. david: there was a lot of talk about regulation. line betweenew community banks and the big banks on the other. did >> of course i agree, community banks did not cause this. answer is we know that. that is why we want tailored regulation for smaller banks, whether it is an $11 billion bank or the first bank of sycamore. so i am not convinced yet tha

nejra: that was michael corbat, citigroup ceo with our david westin.clarifies they legally required to charge for fixed income research in certain jurisdictions. the sure to check out my show on financial regulations, "rules and returns," airing weekends on bloomberg. we speak to the chief regulator of duration of bursa. researchoking at the from the perspective of exchanges. coming up on the european close, we're following stocks within 35 minutes of trading. stocks dropping the most in 10 months. third day of declines. this is bloomberg. ♪ >> it's 11:00 a.m. in new york, midnight in hong kong. there are 30 minutes left in the equity trading day in london. i'm measure say pitch -- i'm ne jra cehic. vonnie: and i'm vonnie quinn. this is the european close on "bloomberg markets." here are the top stories we are covering from the bloomberg and around the world. europe's economy is poised to grow this year at the fastest pace in a decade. meanwhile, some of germany's corporate giants report results that are underwhelming. we are live in berlin. in u.s. po

i'm david westin.ay is the day for tax reform with the white house, i am psychomotor house of representatives set to complete the market of their bill, and of the senate giving us the first look at their approach. we welcome our chief welcome -- we will much of correspondent, kevin. tickets to the house. will we get a final markup today? kevin: this is the marathon markup, and it is expected to end later today and it means all attention will go into next week on whether or not the will be voted on on the floor of representatives. if they pass the bill, the senate must pass something. we anticipate the finance committee today will reduce only the framework of their version of the tax bill, so no complete bill or version, but taking the first step again to keep them on pace to get something done by the end of the year. david: just an underline under that, we will not get legislation language today, just an outline. kevin: there will not be the big thing, it is just a skeleton. it is getting folks frustra

from bloomberg world headquarters, i'm david westin in today for david gura.to "bloomberg markets: balance of power." david: here other top stories at this hour. the house is moving forward with a tax bill hoping for a vote next week. it will have to face up with a different version in the senate. on to vietnam. president trump continues his asia trip, meeting with his asian and pacific counterparts at the apec summit. china opens up. as president trump leaves beijing, the government decided to let the u.s. and other western companies buy majority stake in chinese banks. will u.s. banks want in? ♪ shery: it has been an intense week for tax reform and senate republican leaders debuted their own attempt at a massive tax reform yesterday. that sets up a showdown with the house over what

david westin spoke with the chief -- we are talking house ways and means committee chairman kevin bradyked about state and local property taxes options. >> i made commitments to our members in the house that they tax destroy the state local notions to $10,000, twice the national average. made that commitment that the final vote on the final bill coming back to the house will include the state and local property tax reductions. has --ou know, the city the senate has certain rules. the --the rules is to will you under any circumstances go along? i'm confident the senate knows exactly what the priorities are in the house. i do. i fully expected to be the case. >> to drive it home, that is a red line over which you will not cross. >> it is. things might you consider? would you consider some it slightly above the tax rate? process golet the forth. i appreciate you starting out. conferenceether on a committee. it helps us improve the legislation. becominging bold competitive around the world and how we simplify the tax code and none of that is easy. really critical. really critical. we work w

scarlet: that was the ceo of citigroup speaking with david westin. up, a deeper look at retail, specifically macy's and a nordstrom with their third-quarter earnings, shares falling in nordstrom after the store reported gross margins that missed estimates and they have shaved some off of the top side of their forecast. we will discuss. from new york, this is bloomberg. ♪ ♪ julia: would you miss? spotlight on retailers, nordstrom the latest to report earnings. shares falling in the after-hours trading. for more analysis we have sarah covering the consumer and retail industry, joining us from our washington bureau. good to have you. talk to me about nordstrom and nordstrom rack, because the weakness is a huge concern. sarah: i think when you unpack the numbers the things that stand out to me as the star difference between the brick and mortar and e-commerce operations, a bloodbath in the brick and mortar. and even when you look at the e-commerce number, only 7.5% growth for the main brand, that really lags from the rest of the industry. havehas the e-c

meeting. ♪ francine: coming up, bloomberg daybreak americas with david westin, jonathan ferro and alix you have and morrison on the back of that great interview yesterday. morris, one of our favorite guests. we will talk about oil, how it got to that lofty height in its price. we talk about shale, we will learn about tonight at 9:00 on alex's special. a great special tonight. oil and shale and we squeeze in my exclusive interview with michael corbett, citigroup ceo. tom: really interested in the citigroup interview. franc.best chart, swiss we do that with jens nordvig. a beauteous thing as swiss franc go, there isn we january of 2015 where the swiss national bank gives it up. why is the safe haven that flow of money into switzerland, why has it drifted away? we got extremely far. an epic move. incredible strength we had over those crisis years. we got too far and now some of the reasons to really fear about the situation, european growth is better and what we are also seeing is there are some carry starting to build in the united states. there was a period where all interest rates mg 1

i'm david westin.d that the walt disney company had been talking with 21st century fox about buying a good part of the company. talks have ended for the time being. it does raise some questions about more restructure that maybe to come in some form or the other. we welcome now paul sweeney. when i looked at this -- is this a defensive deal or would it be an offense of deal? are they trying to move into new turf? defensive, part offense if. clearly the media industry is under a lot of secular pressure tied to cord cutting. the way the industry has made money in the past may not be the way they're going to make money in the future. if you're the walt disney company you know you have to go direct to the consumer with sports, espn, disney content. you need to go direct to consumer. they have announced they are going to do that over the next couple of years. if you go direct to consumer with an entertainment channel you will need a lot more programming. the question for disney is do i produce my own program

i'm jonathan firtash an jonathan ferro, along with david westin and alix steel. around about two months. the fx market, that resumes him as the fed curve is flattening. on a 10 year, we come in at about a basis point. alix: take a look at what's happening in europe. you see european equities kicking off, now inching higher. recover.s stocks dollar-yen down the 4/10 of 1%. bitcoin, we were talking 8000, now at 7800. what are we going to make a bitcoin, guys? it's on my board. >> we will answer the question in these three hours. [laughter] -- butn: i think markets think markets like narratives. they can't build one around bitcoin. usually there's a story to go with it. with bitcoin, there's no story. likeu happen to have cabdrivers. it's like gold, bitcoin or gold. david: moving away from religion, we will go on with dutch what's inside the business world. good morning, taylor. the swedish prime minister is asking the united kingdom to clarify how much it will pay the european union as part of its financial settlement on leaving the block. heaking at an eu summit,

i'm david westin.s to buy time warner but were now is out of the justice department that they have some problems with it on antitrust grounds. now overnight bloomberg is reporting that in fact the time warner lawyers and the at&t lawyers are making it clear that we are going to seek discovery of everything the white house had to say to you about this deal. joining us now is paul sweeney. this is pretty tough talk. saying we are going to subpoena, we are going to get all of the information about possible white house interference. . >> i think this is just another round of posturing on the part of at&t. they would consider blocking this transaction. i don't think this is necessarily a route that at&t and time warner want to go down. they recognize their transaction is facing probably higher level scrutiny than they had expected or the market had expected. david: that's brave talk. when you try to subpoena the white house, there's something called executive privilege. the interesting question was murdoch

i am jonathan ferro alongside david westin and alix steel. record highs and then we pulled back at the close, snapping a five winning streak on the s&p 500, futures softer about 1/10 of 1%. market, yields lower by one basis point on the 10 year but that spread, twos versus tens now just 67 basis points. alix: it is like 20 basis points in a matter of weeks. portugal again having a killer bond auction, record year low. 1.96 is how they print on their 10 year yield. i want to highlight sterling, 1.31, down 3/10 of 1%, banks worried increasingly about brexit. copper hitting a one-month low. chinese imports really fell. gold at much, on a day of a lot of news. annual yearberg's ahead summit starts at 7:45 this morning eastern time with speakers including michael corbat. we get the weekly jobless claims numbers and that at 10:00 the testimony from the interim equifax ceo and former yahoo! ceo marissa mayer. that is coming up in the united states but in china president trump is holding meetings with his counterpart. we welcome our chief asia .orres

this is bloomberg tv. ♪ david: this is bloomberg, i'm david westin.t bits and pieces of what is the republican tax plan. so far, they say they probably will not phased in the cut to 20% of the corporate rate, they will do that right away. they will phase and the elimination of the estate tax or what they call the death tax. that will not take place until 2024, and they will not mess around with health care. they will not do anything with the individual mandate. we welcome lisa shalett from morgan stanley, head of investment and portfolio strategies. i love that title. and from boston, jeffrey klein drop. michael mckee still with us. let's start on taxes. what is the most important thing you are looking for? lisa: it is the question of whether we get a big enough drop to the bottom line for corporations for it to matter, number one. is it a one-time hit to wealth and the stock market, and is there anything linking any of the deductions to capital spending, or things that might actually help economic growth. one of our hypotheses has been that this will

he was speaking with bloomberg's david westin ahead of the latest round of negotiations.hat's between the u.k. and eu. >> we are watching closely. from our perspective, the prudent thing we have to do is assume what has been termed as a hard exit, meaning that there is no transition, no sharing arrangements that are put in place. we've got to be open for for our on that day customers, to make sure we can facilitate the things they need to do. that's the way we are approaching it. we've got some latitude and flexibility. being a global institution, we already operate in 22 of the 26th eu countries. 26 eu countries. it's not that we have been operating in the u.k. and going , we arese territories on the ground. we have connectivity. areas we have chosen, where we think fed us well into the future, years ago -- before brexit, we made it significant exit into island. we have our european bank cornered an island that gives us capabilities across europe and the continent. that's done. i would call this the final stages of deciding where certain trading settles and clearing -- a

david westin, you caught up with them. david: one of the stories maybe the hurricanes.ng in trucks. is speculations may be helped by the hurricane. jonathan: the data points have been not so noisy. david: it may show up. there were a lot of vehicles damaged and a lot of insurance payments made. up 6.4% for the month of october. the estimate positive 1.4 percent. much more on that in a moment. we are 13 minutes away from the to kick off november with futures positive. from new york, it's a positive story. this is bloomberg tv. ♪ jonathan: from new york city, 10 mins away from the opening bell. futures are positive as we count you down to the cache open. we are up about .3% on the s&p 500. .6 on the dow. yesterday a suspected terrorist plowed a trucked down a bicycle path in lower manhattan, killing eight and seriously wounding several. financial markets, we will pause for a minute silence for those events. jonathan: that was a minute of silence on the new york stock exchange floor in new york after a suspected terrorist yesterday plowed down a bicycle path in lower manha

i am jonathan ferro alongside david westin and alix s teel.own around 10, 11 points. euro-dollar for a sixth straight session. strongest single currency since may 2016. we are.is where we come in at two basis points, $2.34 on the 10-year, alix. alix: you had the yields coming down about three basis points. you had an option that was not soft, it was kind of lukewarm, right in the middle, if you take a look at the board. european stocks hitting the lowest level in about two months, the worst to slide. it is down. the biggest life is about 2014. commodities also. news outside the business world, we head over to emma chandra. emma: senate republican leaders are hoping the third time will be the charm for dismantling the obamacare. they want to dismantle the affordable care act's individual mandates. year, theady this senate tried and failed to repeal obamacare. --sia is giving venezuela the two countries have agreed to restructure $3.1 billion in venezuela that. the debt is rescheduled in ways that requires a minimal payment for the first six yea

david: i'm david westin. let's check bloomberg first word news with david crumpton.president trump will during a cabinet meeting, the president said the move should have happened a long time ago. pres. trump: this designation will impose further sanctions and penalties on north korea and related persons and supports our maximum pressure campaign to isolate the murders -- murderous regime. accused north korea of supporting acts of international terrorism, including assassinations on foreign soil. targetedaircraft produces in afghanistan for the first time. the top u.s. general in the country said air raids involving an f-22 bomber are part of the new strategy aimed at cutting off taliban funding. an estimatednerate $200 million a year from poppy cultivation and opium production. iran's supreme leader visited the border of iraq today. reliefded the rescue and efforts and said they should double the efforts to get aid to people who need it. killed andwere injured thousands in an attack. the mass murdering cult leader charles manson is dead. manson's followers killed act

david: i am david westin. welcome to bloomberg markets, balance of power, with a focus on the u.s.ongoing battle it on tax reform continues. we will speak with republican congressman kevin brady, chairman of the house ways and means committee, as the senate enters day two of their markups, while the house may vote on a bill by the end of the week. he was attorney general jeff sessions says he never lied about contact with russia during president trump's presidential campaign. the latest details on his capitol hill testimony in front of the house judiciary committee. president trump is expected to meet with top aides this week on the roy moore controversy and house majority leader paul ryan or house speaker paul ryan calls for him to drop his republican senate candidacy. we get a live update from alabama this hour. ♪

blankfein sat down with david westin for an exclusive interview.in: we have to remove that extra stimulus. reduce the balance sheet. the big test will be to do it in a way that doesn't shock us into a bad position. this is a little bit like moving in ends able, dangerous chemical. -- moving and unstable, dangerous chemical. transparency, again, is part of the implementation remedy to make sure everybody knows what is happening. so there is no sudden, quick, jerky move. but it will take a deft touch to do this. all the while bracing for the fact that there may be some bubbles that pop in places. money has been cheap for a long time. maybe it's gone someplace it shouldn't have. david: at the same time you are reducing the stimulus, we have a president, a republican in congress who seems bent on increasing fiscal stimulus. we have today the details of the republican tax plan. what does a good tax reform package look like? what does a bad one look like? have beenein: i involved in a conference so i have not seen what has come out. there will be element

david: i'm david westin. welcome to "bloomberg markets: balance of power."s on the intersection of politics and the economy. shery: here are the top stories. senate majority leader mitch mcconnell says there is a net -- an overwhelming likelihood of success on the tax bill, but added a some taxpayers could get a higher tax rate. plus, we will break down what to expect from the tax bill with senate finance committee senator maria cantwell of washington. mcconnell says he believes roy accusers.oy moore's we get a live update from alabama in minutes. ♪ david: the senate starts to mark up its version of tax reform today. the house may vote on its bill as soon as thursday. the two republican backed hills --e substantial dividends differ

david westin asked the nfl commissioner, roger goodell, if the national anthem controversy is drivingecline. >> i don't think there is a silver bullet. i don't think there is one thing that we have focused on. what we look at is everything, and we don't dismiss anything. a look to see, could that be factor. the big issue is the changing media landscape and the pace of change is so rapid here. alisa: global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm alisa parenti. this is bloomberg. it's just after 5:30 p.m. here in washington, already 6:30 thursday morning in hong kong. we are joined by bloomberg's david ingles with a look at the markets. all three of the main benchmarks ended at a record high. david: i'm not feeling the tailwind here. good morning from hong kong. just 30 minutes from the start of the proceedings in sydney. we are likely looking at a mixed open. let's put it that way. new zealand has been up and running for about an hour or so already, and you do see some weakness. that being said, a lot of earnings coming

i'm david westin. >> and i'm julie hyman. welcome to "bloomberg markets, balance of power." the top stories we are watching. getting to 50, the senate returns from the break with republicans scurrying to make sure that they have their by thisof tax overhaul thursday. who is in charge question mark not one, but to acting directors ignore theff to other. next step, the d.c. federal courthouse. angela merkel goes back to the drawing board. once again working on a coalition to govern the country. the party said they didn't want to team up with ms. merkel again given how badly it worked out the last time. ♪ davi

david westin caught up with her and asked why she joined. >> over the first few months of the year, iode lyft and i would talk to the drivers, and they would say, we are treated well, paid well, where flexibility, we set our own hours. i thought that spoke aliens of the company. they made a lot of progress, it took them four years to reach 100 million customers. that's a big number. in the last three months, that is what we have done. so, they are growing exponentially and went from the beginning of this year, serving 54% of the american people. now, 95% have access. i think if you look at the track record, the values and leaders of the company, the way they deliver the service, you could not do better. i'm very pleased. >> the brand has been associated with women and women have had a significant role in lyft. something like over 40% of your drivers are female. is that right? >> i don't know if it is that high. i ask women if they feel safe and they say, "absolutely." i think the company has gone to great lengths to make sure the customers and drivers are safe. back when i worked in t

david westin asked roger goodell today if the national and the controversy is driving the decline. >>'t think there is a silver bullet. i don't think there is one thing we focus on. we look at it as everything and we don't dismiss anything. we look to see if that could be a factor. i think the big issue is the changing media landscape, and the pace of change is so rapid here. mark: he says he would like to see players stand, but believes they are not trying to disrespect the flag. he says the players are talking about improving their communities. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. i'm mark crumpton. this is bloomberg. shery: thank you. what is the fate of the republican agenda after yesterday's sweeping election rebuke of president trump and his party? we asked haley barbour, former chairman of the republican national committee and the former governor of mississippi. he is joining us from washington. thank you for joining us. for agenda was a key race yesterday. this was supposed to be a blueprint for future republ

from bloomberg's world headquarters in new york, i'm david westin. and i'm shery ahn. bloomberg markets: balance of power," with a focus on the intersection of politics and the economy. david: here are the top stories we are watching at this hour. overhauling taxes, the republican pan is partisan. we will talk about the head of the house democratic caucus, joe crowley of new york. it is not just democrats, republicans senators are raising questions as well. judd gregg says it doesn't go far enough. merkelchancellor angela loses her coalition before it came together. now the german president said the party should go back to the negotiating table. ♪ david: tick-tock for the republican tax plan. a sprint to get an overhaul bill on the

david: i'm david westin.ting on the votes in the house on tax reform, we know it will happen between 12:55 p.m. and 1:10 p.m. eastern. house republicans can only lose 22 votes for it to pass. david: it will only happen when that man stops talking, number two for the republicans in the house of representatives. we are joined by megan murphy, great to have you. >> thank you for having me. david: don't we think we know the answer for the house? >> it will be interesting to see how many holdouts we get, but obviously they will not lose. we expect it to pass. the biggest debate is on local deductions and the higher taxes. shery: and president trump has been walking through congress, he addressed the gop house members earlier, trying to rally support. how much influence does the president have at this point back from his asia trip? >> anytime you see the president come to the hill to make a personal pitch, you see him joined by the vice president, the house -- it does not look like this will be the biggest issue. w

coming up shortly it's bloomberg daybreak: americas with david westin, jonathan ferro and alix steel. to today. >> valerie jarrett. she was the senior adviser to president obama. she then went on the board of life -- lyft. we have to talk about women in the workplace including on capitol hill. something she was very active on. about taxesto talk because she has some views about what we could do with tax overhaul. we will get to all of that. let me get to the single best chart. you have seen it many times before. a service atough treasury. this is the deficit of the nation. significant challenges in the 1980's. i will put this up for radio on twitter as well. the presumed vectors down to a greater deficit. do the senators care about the deficit? do they have a valid worry? longer-term they do. that has not been the focus for a long time because rates are low. debt service costs are going to become it porton. the debt has doubled. the government spends fewer absolute dollars on debt service than it did before the crisis. the u.s. hasr-term significant fiscal challenges but it's not on w

i'm jonathan ferro alongside david westin and alix steel.ing back and forth between tv and the radio. market action my 30 minutes away. futures are up by about nine points on s&p 500. fx, a little bit of weakness for the euro, nothing significant. 117.23. the curve is flattening in the bond market. 2.36 on the 10 year. the60 basis points in nymex. alix: you should buy equities, apparently. lows off by 2.5%, third-quarter profit more than doubled and it beat estimates, but it did indicate the full-year earnings would be on the high end, $.87. it was on consensus. 2.5%.'re looking at maybe should rise by about 2%. not a huge boost. home depot just crushed it because of the hurricane and rebuilding effort. so it is it wishy-washy time for the lows -- for lowe's. higher estimates for revenue and full-year profit and sales for the full-year. raising customer account by about 6% after cyberattacks. peers also rising, like checkpoint. 17%, already 19% so far this year for -- jewelers. it will be the fourth double-digit earnings loss in the last sev

i'm jonathan ferro alongside david westin.he opening with futures a little softer after last week's losses. the euro makes a little come back. euro debt debt flat. in down as coming basis point. abigail: thank you so much. m&as turning out to be an monday. before we take a look at those deal movers, let's take a look at ge. 0.3%. are higher they are slashing the dividend by 50% to $.12 per share. that is only the second time since the great recession. they have offered new guidance. they are standing by the idea that they are going to be getting rid of $20 billion in assets, plus they are reducing the board from 12 to 18. the stock have been higher iq %ercent earlier on -- by 2 earlier on these headlines. technically, if ge holds $20 per share, it could turn out to be an inflection point. one a look at mattel, up reports that hasbro has discussed a possible acquisition. these are the two biggest playmakers in the u.s., with terrible third quarters in part due to the toys "r" us bankruptcy. we see hasbro shares trading higher t

i'm alongside david westin and alix steel. let's look through the market action. .10%es are firmer, up after closing friday at an all-time high, the best week of gains so far in november. the dollar is just a little bit at 1.1938. we stay the yield curve just a little bit flatter by around the basis point. 2.35 on the tenure. alix: you are looking at 58 basis points spread, but bitcoin has made it at the top of my board. 10,000. jonathan: i'm not an idiot and i am not trying to call the top. alix: it will be a topic of conversation. david: there are some things going on inside the business emma chandra is here with first word news. emma: it is the biggest online shopping day of the year in the u.s. e-commerce is expected to rise almost 17% from the year ago to $6.6 billion. online spending across the holiday season is projected to rise 11%, the most ever. germany is edging closer to getting a new government. chancellor angela merkel has began negotiating with the social democrats over a potential partnership. she says any coal

david westin recently sat down commissioner nfl and asked about the challenges. >> i don't think thereer bullet. there is no one thing we've focused on. we don't dismiss anything. we look to see, could that be a factor? the biggest issue is the changing media landscape. scarlet: joining us for the latest, carlos rodriguez. thank you for joining us today. this will be the second nfl game in mexico city. what kind of reception did the game get last year? >> it was very popular last year. this year, they expect to have a big crowd. tickets were sold out, waiting an hour. decent -- the raiders don't have a great average attendance in their own city. julia: football is huge in mexico, but usually futbol with a u. who is the typical nfl fan in mexico? football is popular in mexico, it has been for many years. fans, most oft of them became interested in the game in the 1970's when they started to broadcast games from the cowboys and steelers here in mexico. since then, it has been year after year a growing fan base . these games keep the fans alive to pass the traditions to their kids. last y

i'm jonathan ferro alongside david westin and alex deal. a very small pullback from all-time highs in yesterday's session. futures a little bit firmer today. in the treasury markets yields grinding higher by a single basis point and the euro just a little bit softer. broad-based dollar strength coming through. alix: european stocks continue to grind higher. part of that is energy stocks. despite the fact that brent is lower at $63 as some pessimism and downward thinking when it comes to the opec meeting on thursday. spread coming in at 57 basis points. and bitcoin. is it going to be $10,000 today? time for the morning brief. at 8:00 this morning eastern steven mnuchin, william dudley on the hill of the sec will all be speaking in new york at a conference on the structure of the u.s. treasury market. at 10:00 all eyes will be on capitol hill as senate begins confirmation hearings for jerome powell. and president trump continues to campaign for a tax overhaul. he will be going back to the white house for a meeting with congressional leadershi

i'm jonathan ferro alongside alix steel and david westin. futures this morning are positive after a pullback yesterday and a bounce off the lows, up by about seven or eight points on the s&p 500. market as we snapped the five-day winning streak on euro-dollar and pullback yesterday, down for a second day with euro-dollar at 1.1764. a big bid came in yesterday for treasuries. a flatter yield curve. steeper yields up for basis points. ..36 on the u.s. 10 year we will get those walmart earnings as well in a moment. alix: we are looking for estimates of $.98 per share revenue to come in. stock is moving higher in premarket. a nice boost up by 1.3%. we are also looking at the m and a action. anderson confirming its bid to buy rockwell automation for $225 a share. we follow that the hour. walmart earnings beat estimate, one dollar a share versus estimates of $.98. it boosted its full-year adjusted earnings view. we take into account fourth quarter, sales. now looking at the high-end to be about 2% when they came into .7% for this last quarter. tha

i am alongside david westin and alix steel. we are looking at market action.a percent. yesterday, the headline numbers spelled out calm. it was anything but the need the numbers. vicious on the s&p 500 in the last 24 hours. fx market, the euro is firmer. even with numbers coming in below expectations. in the bond market in the u.s., u.s. treasuries unchanged after the selloff yesterday. 239 is the yield. and let's get you to the movers ahead of the open. alix: take a look at kroger, up 10% in the free market and heading toward their best day since march 2009. the second straight quarter of better than estimated sales. over 1% positive now for two quarters. earnings around 10% better. we spoke with the cfo and he seemed optimistic about his battle that he will come from between walmart and amazon. they got a lot of boost from homemade store products. and -- taking it on the chin. nokia in talks with the juniper, or that they are preparing a takeover bid -- it was on a nine day losing streak. wasrumor was nokia interested and they want to help the network unit t

i am jonathan ferro alongside david westin and alix steel. futures are softer.rd of a percent for the s&p 500. and will we get a week of losses? we are subdued versus equities and bonds. dollar going nowhere. and the unwind of the treasury yields stocks, up three basis points. alix: action and europe, dax flat. selloffhave a continued in the bond market, particularly in the core, you have the german bund yields up . the vic up. gold unchanged. david: we turn now to emma chandra with first word news. emma: in china, the government taking a historic step to liberalize the financial industry. they will remove limits on foreign ownership of banks and companies, plus overseas firms can take controlling stakes in securities businesses. that gives them access to the world's second-largest economy. president trump is in vietnam for the asia-pacific summit where he is talking about trade again. he has said he will not let the u.s. be taken advantage of. enters the u.s. will only one on one trade deals, not multinational ones. oorelabama, ray m refuting allegations he had

david westin is off today. i'm jonathan ferro alongside alix steel. the markets look like this.lly mixed session in the fx market. euro-dollar pulling back just a touch. after seven straight weeks of gains on the s&p 500, we are pretty much dead flat on the week so far with futures flat ahead of the open. alix: i know where david is. he's online buying an iphone x. jonathan: he would buy five and spin off the other four. alix: you've got a lot of kids, you need those christmas presents. apple's markete cap rises above $900 billion. we are now about that. how long do we stay up there? we will dissect that later on in the show. time for your morning brief. in just about a half hour, we will get the u.s. payroll data for october. president trump begins his 11-daytrip to asia. then neel kashkari speaks this afternoon -- he is a dove. up for anwho queues iphone for monday? >> not i. alix: i cover the line. jonathan: someone who is a real tech-o-phile. alix: are you getting the iphone x? >> i think i have the iphone 4. i'm the last one to get it. when you tell me the phillips curve is

david westin as the nfl commissioner today if the national anthem controversy is driving the decline. there is a silver bullet. i do not think there is one thing we have focused on. we look at everything, and we do not dismiss anything. we look to see if it could be a factor, but i think the big issue is just the changing media landscape and the pace of change is so rapid. julia: he would like to see players stand but believes they are not trying to disrespect the flag. he says players are talking about improving their communities. the justice department has issued subpoenas for information on carl icahn's role as advisor to president trump. investigators are looking into efforts by the billionaire to influence policy. ofl icahn is majority owner an oil refiner and has been could aside for pushing a policy change to benefit the company. he reportedly tried to shift the burden away from pure refiners. others in a fitted more in the sector. that is your business flash update. scarlet: at&t is ready for court. at&t is preparing to take on the u.s. justice department if that agency sues t

david westin spoke with u.s.dor to germany, former ambassador to germany, -- >> i think there is a chance that a coalition can be formed. even the former jamaican coalition. i think there is a 40% chance of new elections and a 20% chance of a minority government. david: go to the 40% chance you think there might be of putting together a coalition one way or the other, who will have to give on that? there is bad blood between angela merkel on the one hand and the head of the ftp at this point. robert: i have seen the reports. what i would say is, do not underestimate the role of frank -- the german president. the german presidency, like many presidencies in constitutional democracies, is largely a figurehead role. it is really the voice of the nation, but at this critical point the german constitution has put together in 1949 - that was put together in 1949, requires the president to look for every way possible not to go back to new elections. and steinmeyer not only was the foreign minister into governments, but

i'm jonathan farrow, alongside david westin. alix steele is out today. lisa is stepping in. up to speed on some of the action, shall we? we close out october for a seventh straight month of gains on the s&p 500. we begin november with futures positive, up 10 or 11 points. in the f.x. market, you're euro-dollar stable as we count down to the fed nondecision later. and to payrolls on friday. treasury yields grinding just a little bit higher by a basis point to 2.39 on the u.s. 10-year. david: as jonathan said, we're not going to getheax