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

coming up on "balance of power" nancy pelosi will be joining david westin. d pelosi talked yesterday, they talk today. it seems more cordial than it has been in a while. this is bloomberg. ♪ ♪ --david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. we begin our program with a very special guest. she is the speaker of the house, nancy pelosi. madam speaker, thank you for joining us. it was reported you expressed skepticism whether we can get the fourth round of stimulus before the election. are you skeptical? rep. pelosi: i am hopeful. it does not mean i am positive, but i am hopeful. we have some areas of disagreement that are broad, but we will be talking again later today. we are still alive. we are still talking, i am hopeful we can reach an agreement. i think that was an interpretation of some remarks i never said i was skeptical. you might describe it that way. you understand the concerns we have for our pol

i am david westin. we continue our swing states series, looking at michigan. ome now david dulio, professor of political science at oakland university. treat us like your students. tell us what we need to know about michigan this year politically. david d.: thanks for having me, david. it's a state that is, as you know, really central to both strategy,' electoral to reach the magic number of electoral votes. as expected, this has been a pretty heated campaign here in the wolverine state for the last several months. david w.: the wolverine state went narrowly for president trump last time. what tipped it over the edge? we hear about a county on the northern border of detroit. david d.: i would say a number of things tipped the scale in trump's direction. when you win a state by less than 11,000 votes, you could point to any number of thousand -- things that would lead to that margin of victory. i would say a couple things are important to that result. one is that the clinton campaign basically ignored michigan until the very end. that was part of their assumptio

i am david westin. thoughts this morning with president trump as news broke of his covid-19 diagnosis. to give us some initial thoughts about joe biden and what is going on with the cap income we turn to a political contributor. we have a statement from former vice president joe biden's doctor saying he was tested for covid-19 and he was negative, along with his wife. we have to go through the government and the campaigns to find out who is negative. what is this mean? >> it is very good news. we have been getting -- we have been hearing from so many people who are thankfully negative, including the former vice president and the current vice president. for the campaign, that is the big question. it looks like the campaign is on hold to a certain extent. the president has had to cancel events coming forward. thatnot know about events were some out on the calendar, if he was feeling well enough, what he do them and when people willing to go to them? would other people step in in his wake? the vice preside

david westin has nancy pelosi coming up. bloomberg. ♪ ritika: time for the bloomberg business flash. a look at some of the biggest business stories in the news right now. mcdonald's has reported a return to growth in the u.s. comparable sales in this country rose 4.6% in the third order, even as global sales fell. the u.s. is boosted by a brisk drive-through business and limited addition celebrity meals. j.p. morgan chase is committing billions of dollars to fix the racial wealth gap, that includes a pledge to underwrite 40,000 home loans for black and latino borrowers over the next five years. the bank will also change how its own executives progress on diversity is evaluated. a is unlikely there will be covid-19 vaccine available by the end of the year according to the european union top medical regulator. the agency is speeding up reviews of two vaccine front runners, but the eu official says it will be difficult to complete over safety checks and evaluation before the end of 2020. that is the latest business flash. guy:

i am david westin. welcome to "balance of power." the president is back at the white house and judging from the tweets back at work. front update on what we know about the situation, we welcome michelle cortez. what do we know and what don't we know about the state of his health? shell: -- michelle: as you know, he is tweeting so we know he is up and about his doctors have said he does not need to be convalescing in bed in terms of some people who have had the virus. it takes them a while to get better heard we know he has been out and walking around. how he is going to fare going forward, it is still early days. we do not know whether not he has gotten through the first wave of the virus itself and how his immune system is reacting in the days to come. david: we have heard that the president is still contagious. him fromey isolate people around him? and how will he do the debate next week? he says he is going to do it. are a lot ofre challenges with keeping somebody who is infected in a safe space and

i'm david westin.berg first word news, we go to mark crumpton. mark: in china, economic recovery from the pandemic continued in the third quarter. gdp rose 4.9% from a year ago. that is less than expected but higher than the second-quarter numbers. salesme, china's retail rose 3.3% in september and industrial production was up almost 7%. british officials are prepared to water down prime minister boris johnson's controversial lawbreaking brexit legislation, a move that could revive failing talks with the european union. the bill rewrites part of the brexit deal struck with the eu last year. news breaking now. the u.k. government says that it believes this is no basis to resume eu trade talks. it is the largest deal in the shale industry since the collapse and energy demand earlier this year. buycophillips has agreed to concho resources. the takeover will create a heavyweight driller in america's in westlific oilfields texas and new mexico. global news 24 hours a day, on-air, and on quicktake by bloombe

i believe david westin is standing by joining us in this coverage of what is going on with the president. david: thank you so much, i want to bring to one of our colleagues that we turn to when we have health care questions, that is drew armstrong. we have this letter from president trump's physician saying this regeneron antibody cocktail he has been treated with, tell us about that cocktail do we know it if it is effective? >> this is a cocktail of antibodies which mimics some of the body's immune response to the virus. in terms of what we know about how ineffective it is -- effective it is, we know little bit. the company that makes it has released results from about 275 patients from a trial. they show that it reduces the load of the virus in the patient which is a good thing. that is a significant -- but i think it is important to remember these are early data, this is not approved, it is highly experimental. i think it is one of the cocktail of options out there for doctors to use. the other site is the side effects of the drug in this early set of data appears to be benign whichne

today, the ceo get bloomberg's david westin details.ncement, ibm will become over half as a software and solutions company, and a larger number in terms of overall product. the new company is a little over 50%, that is a very attractive company that promises a different valuation than the current structure. so that is a piece of it, but it is more the growth and in market opportunities that i think is driving it. david, you are closer to that audience than i am in terms of how they think and react. david: what would be the relationship between the companies? with a contract with one another and free to contract with one another? >> both. you unlock both for both companies that allow for partnering with companies that may be competitors. competitors in the aggregate feel reluctant to partner deeply with them. that gets unlocked. no constraints on that side. that said, i think it is likely that each other's biggest customers on day one. they purchase a lot of hardware and software from ibm. fromurchases services companies are two going to

coming up, "balance of power" with david westin. stimulus or no stimulus?ke for the market. this is bloomberg. ♪ ♪ david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. president trump, who is back in the white house and tweeting up a storm yesterday, including the tweet that was basically calling up stimulus talks. among other things, he said i've instructed my representatives to stop negotiating until after the election win, immediately after we win we will pass a major stimulus bill. that sounds like the stimulus is off. then he seemed to take a "if i am tack, saying such a stand-alone bill for stimulus checks, $1200, they will go out to our great people immediately. i am ray to sign right now, are you listening, nancy?" we welcome our chief washington correspondent kevin cirilli. is the stimulus on or off? what is going on? kevin: call it the may be so negotiation. con

the general motors president speaking with david westin.as been a rare bright spartan the pandemic with its market value skyrocketing more than 400%. it looks to report a profit for a fifth consecutive quarter after the bell. gordon johnson joins us now. thiscould possibly derail fifth consecutive quarterly profit? i don't think the earnings are as important as everybody is putting emphasis on. if you look at the street estimate for tesla, it's around $.35 in earnings-per-share, roughly $.20 of that will be one-time credits that go away next year. they don't need to buy these credits from tesla so tesla will do $.15 roughly of earnings this quarter. annualize that and it's $.60. apply that to their current stock price, you were talking ratio of 700e times when typically get carmaker trades at 12 times. in the european union where you have the most competition for europe are upn year-over-year. tesla cells in europe are down 14%. not only are they losing share but their sales are declining. in china, their sales in china have declined in eac

i'm david westin.me now the speaker of the house of representatives nancy pelosi to our radio and tv listeners. thank you so much for being with us. today is the deadline, you spoke to george stephanopoulos over the weekend, said 48 hours. i understand you have a call set up with secretary mnuchin today. what do you need to hear on that call to move forward? speaker pelosi: first, welcome to the speaker's office. i have behind me the great founder of the republican party, abraham lincoln, who said public sentiment is everything. sentiment isublic there for us to crush the virus. that is our main goal in this legislation so that we can open up our schools, open our economy safely. there is no reason why our schools should not be the safest place for our children to be, and that our workplace should be a place where workers can feel safe without fear of catching something they bring home. i am optimistic because i think we have a shared value. not many, but a shared value that finally they want to crush

nancy speaks to david westin at 12:00 known today.i speaks to david westin at 12:00 noon today. our chief washington correspondent back in washington. senators andblican republican members of the house and the republican broader community saying to the president on this thursday? kevin: senator tim scott from south carolina said yesterday he think the president needs to clarify his remarks with regards to race that were made during the first presidential debate. ofhink the races in terms the battleground states, if you look at iowa, you look at kentucky, south carolina, where lindsey graham is in a tough battle, i actually think those republicans are in a better position more so than the president, should the president not be on the ballot. what is interesting here, and this is what strategists don't know, is how president trump at the top of the ticket and joe biden at the top of the ticket will impact the down ballot races, and whether or not you've got democrats in some of these states who are just going to check off all of the dem

i'm david westin.mes out eight days from now, it looks increasingly likely any stimulus bill will have to be taken up in a lame-duck session after the election. our washington correspondent spoke with kevin cramer of south dakota about the prospects, as well as his state's concerns about energy policy. i always believed there would be a lame-duck deal. window has gotten pretty tight for a pre-election deal. some were waiting for to see how the rest of this deal played out. partly because we were getting closer to the election and nobody wanted only winners, no losers. while the white house and the house were negotiating committee republican senate was hanging tight at half $1 trillion. i never thought we would get a deal before the election. i was hopeful, but you ask the much?on, how in the lame-duck, regardless of the election result -- the election will no doubt in form to some degree what the number may be, but either way, the pressure valve is open to and people get back to some semblance of norma

i'm david westin.lphia is issuing a citywide curfew after the police killing a walter wallace triggered a violent confrontations and arrest throughout the city. in the view of the city, we welcome joseph watkins, former white house aide to george herbert walker bush. a streaming program on the intersection of politics and faith. give us a sense of what is going on with walter wallace and the aftermath. joseph: of course, this has outraged so many people in philadelphia, african-americans, not happy about this, and have taken to the streets. ,nfortunately for the city there have been a few nights of rioting some riding -- in localized area. this really calls for the need for some kind of national on policing, especially as it relates to the use of excessive force. david: what kind of effect might this have on the election, if at all? joe: if anything, it will inspire more people of color, certainly in the fillet -- in the city of philadelphia, and pennsylvania to show up on election day. so many have al

i'm david westin.president trump and former vice president biden have said the sticks could not be higher or this year's election, for a host of reasons. with two weeks ago, we hear from the national intelligence director that iran and pressure are trying to interfere. the formernow attorney general of the united states eric holder. he is now serving as the chairman of the democratic redistricting committee. start with the news overnight. we don't know much overnight, there were not many details. does it surprise you that iran and russia would be trying to send this information to tamper with our elections? eric: not at all. we need to be prepared for these kinds of intrusions, attempts to interfere with our electoral system. what struck me that was strange was the press conference being held last night. the information being shared was not something that was unanticipated, but trying to spin it as an attack on the anmp campaign, as opposed to attack on the american electoral system, i thought was a li

he will have a conversation with our david westin.his is bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. ♪ is "bloomberg surveillance." i am ritika gupta with the bloomberg first word news. the presidential debate format will change in the wake of tuesday's chaotic shutdown. the commission will say what changes -- won't say what changes will be made but wants to ensure a more orderly discussion of issues. joe biden says candidates should be able to speak interrupted. the trump campaign says the changes are moving the goal posts. american and united airlines will start laying off thousands of workers the next few days as scheduled. both pr

worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. president trump has been speaking today at the economic club of new york, at least virtually. he had a lot to say about the plans he has for the economy. one of the things he addressed is the need for stimulus, saying we needed at least for certain targeted industries committee wishes the democrats would loosen up. to talk about the state of the u.s. economy, we welcome michael gapen, barclays chief u.s. economist. give is your sense of where the u.s. economy is and how badly do we need fiscal stimulus. i will tell you, i'm not sure we are getting it. michael: thank you for having me on. always good to be with you. i think getting stimulus ahead of the election as a virtual nonstarter. it does not seem like it is going to happen. where we are in the u.s. is the economy is slowing. signs of deceleration are clear. most of us expected that growth would be slowing following the sharp snapback connecti

worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. we will start as usual with a check on the markets. i do not see a lot of direction and equities, help me. tech is hogging the spotlight. a big m&a deal in the chip sector while the first big tech names reports results after the close. advanced micro devices buying xilinx, value xilinx at a 20% premium to its last close. xilinx is the best performer in the philadelphia semiconductor index, amd is the work. -- amd is the worst. microsoft higher, cloud computing will be a big winner, a lot of optimism embedded in the stock, it is outperforming the rest of the tech sector and the broader market. the nasdaq 100 is the winner of the major indexes. it is outperforming the s&p by the most in two weeks. i mentioned microsoft reporting. you have four big names on thursday, amazon, apple, alphabet and facebook. tech is the sector most likely it is see its earnings hold up. care were theh sectors that posted

i am david westin. we welcome from capitol hill, nancy pelosi. thank you for joining us. a lot is going on. start with the most basic thing. is it true that steven mnuchin has raised the possibility of a broader stimulus deal once again? rep. pelosi: i would not speak for him on what he may have iggested, but i will say think we have a clear understanding that if we want to try to help the airlines, and we certainly want to do that, that it has to be in the context of a fuller bill. it will have to happen at the same moment, but it has to be happening with the assurance we will go beyond this assistance to the airlines. they have to crush the virus. let's be calm and try to normalize things. unless we crush the virus with testing and treatment, mask wearing, sanitation, ventilation, separation, we are not going to get a handle on this to be able to fully open our economy and our schools in our society. that is what has been ignored by the administration. that is what we must insist upon in this package. it has been another bills but they have not acted upon the resources

frankly, it devolves to speaker pelosi and her conversation in hours with david westin. lisa: there's an increasing amount of uncertainty, messiness. it doesn't matter. basically, heads we win, tails we went even more. that is the story and markets. either there will be some fiscal story before the election, which a lot of people took off the table and brought back on, or there won't be anything, and if there is a blue wave, which wall street is pricing in, then people are expecting even bigger fiscal support package. either way, people are seeing more fiscal support, and if there isn't any in the near term, they are expecting the federal reserve to step in with more asset purchases. risk on despite the uncertainty. very much looking to policymakers to fill any gaps. jonathan: there's the headline we were waiting for, tom keene. the president says he is not going to do a virtual debate. makes it interesting, doesn't it? october 15, miami, florida. the commission out with a statement that that debate will now be virtual. it will take a town hall format. people will be in

from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. we begin our program with a very special guest. she is the speaker of the house, nancy pelosi. madam speaker, thank you for joining us. it was reported you expressed skepticism whether we can get the fourth round of stimulus before the election. are you skeptical? rep. pelosi: i am hopeful. it does not mean i am positive, but i am hopeful. we have some areas of disagreement that are broad, but we will be talking again later today. we are still alive. we are still talking, i am hopeful we can reach an agreement. i think that was an interpretation of some remarks i never said i was skeptical. you might describe it that way. you understand the concerns we have for our police and fire and health care workers, sanitation, teachers, teachers, teachers. we are still fighting for more money. we think the administration is coming in far too low for our heroes. i think we are close in terms of money, we are

i'm david westin.loomberg first word news, we go to mark crumpton. mark: the head of the world health organization's europe office says the exponential surge of coronavirus cases across the continent has warranted the restrictive measures being taken across the continent. he called the steps absolutely necessary and said more drastic measures may be needed to contain the pandemic. he warned relaxing measures could lead to a fivefold increase in deaths by january. a long time republican senator is acknowledging that president trump may lose next month election. south carolina's lindsey graham predicted in september that mr. trump would be reelected, but at a senate hearing today he said that joe biden has a good chance of taking the white house. chairman graham himself is in a tough reelection battle. his opponent jamie harrison has grown support in south carolina. in california, a heat wave is bringing another round of extreme wildfire danger. temperatures have been hitting triple digits in many parts

i'm david westin. we turn to mark for "first word" nufmentse mark: the number of people who have been infected with the coronavirus worldwide has topped 39 million. more than one million people have died. that's according to the latest data collected by johns hopkins university and bloomberg news. europe is seeing a resurgence of the virus. the united states has the biggest caseload in the world with nearly eight million cases of covid-19. and more than 217,000 deaths. the united states is followed by india, brazil, and russia. after his town hall in miami, president trump is back on the campaign trail today. he'll deliver a speech in florida on protecting america's senior citizens. he then heads to georgia for a make america great again rally. democratic presidential nominee joe biden is campaigning in the battleground state of michigan. he'll deliver remarks in southfield on a affordable health care. tonight mr. biden will attend an event in detroit to urge residents to vote early in person. five of

i'm david westin.e are reporting on the situation with respect to president trump and the first lady. particularly president trump who after midnight tweeted out he contracted covid-19, as had his wife. as the day has progressed, the story has progressed as well. we heard from mark meadows this morning, saying just mild symptoms. he was working and everything is fine. we heard late this afternoon from his physician that he had been treated with an experimental cocktail, regeneron, as part of a special treatment. now word is he's about to go to walter reed medical cent p

house speaker nancy pelosi talking to david westin.his is as markets are focusing on the possible stimulus package from the u.s.. we also have a headline from spain, the spanish prime minister saying he will declare a state of emergency in madrid. this is one of the local tv stations carrying this. and this is significant, possibly one of the only ways that spain can put restrictions in place. we broke the headline yesterday that a judge ruled that the travel restrictions in and out tocities might be necessary fight the spread of coronavirus but under the current framework they were violating fundamental rights. dealing with to get around it was for the spanish prime minister to evoke a state of emergency and then he can do what he wants in terms of lockdown. a really important story. i want to stop the program now to go into this. and it hugely political really shows the polarity of the socialist leadership versus the conservative leadership of madrid, do i have that right? francine: yes. and this goes to what we thought was a pretty

david westin is on fire. this is going to be a normal interview. it's not.eer of michigan present governor, who is safe. ♪ -- this is bloomberg -- this is bloomberg. ♪ morethink the fed can do and we will look at our options. but those are not substitutes for fiscal policy. right now i would be hesitant to see us doing more in that area, because i don't see the benefits . i could see how it would add fuel to the financial markets, i am more skeptical of how it helps the real economy. tom: the gentleman from dallas. i cannot convey enough the idea of how unusual this conversation is, buried in the news flow of this political season and the business stories we have seen with ibm yesterday and the morgan stanley announcement as well, it was a stunning speech by jerome powell to the national association for the business economic council. i really have to say, it's the federald, reserve discussion of fiscal policy. francine: i would also say that it's unprecedented to have a who retracts on a stimulus bill. tom: three times, four times. francine: go ahead. tom: i

i'm david westin.loomberg first word news, we go to mark crumpton. pickinge coronavirus is up steam across the united states. the u.s. added more than 70,000 cases in one day, the first time that has happened since july. the rolling seven-day average topped 61,000, the highest since august. that is according to johns hopkins university and bloomberg. italy continues to break records with its coronavirus numbers. 19umber of new cases jumped percent today to more than 19,000, the highest since the pandemic began. curfewtarted a nighttime thursday. officials may enact a national curfew within the next few days, if the upward trend continues. turkey confirms it tested its defensemade missile system despite objections from the united states. washington has warned that it risks u.s. sanctions if the system is activated. it has also suspended turkey from its f-35 fighter jet program. ankara insists it was forced to purchase the system, after refused to sell the patriot system. climate is wreaking havoc on cro

in an exclusive interview with david westin the speaker said she will simply not accept whatever the white house offers just to get a deal done. pelosi: we are still alive, we are still talking and i am hopeful we can reach an agreement. we are still fighting for more money. we think the administration is coming in far too low for our heroes. i think we are close in terms of money. but yielding on that quite a bit. tose on that except we have see the language. mark: talks between speaker pelosi and secretary mnuchin continued today. both sides face increased pressure to act as more companies announce job cuts including airlines that have received help under earlier rounds of federal support. the trump administration can move forward with its lawsuit against former national security advisor john bolton over his book, "the room where it happened." decided to accuse bolden of breaking contract with the government for disclosing classified information. the government sued in june to prevent the release but the book was published and scheduled. russian opposition leader alexei navalny bla

thank you so much for joining also, bloomberg's david westin. coming up, the world's largest gold producer extending its record. canada actually last? newmont ceo tom palmer is next. this is bloomberg. ♪ guy: live from london, i'm guy johnson. alix steel is in new york. this is "bloomberg markets." the mining industry off to a rocky second quarter. newmont mining bouncing back. the company has raised its dividend again. tom palmer is the ceo of newmont, the world's largest gold producer, with mining jurisdictions in north america, south america, australia, and africa. thanks for your time today. it looks like you have recovered from the first wave of covid. are you ready for the second? tom: absolutely. through the second quarter, we -- into care and maintenance to manage through the pendant. they all came back up and are running very well towards the end of the second quarter and into the third quarter. one of the things i am really proud of is that third-quarter results represent an impact from covid that we still had record financial results.

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house speaker nancy pelosi coming up later on "balance of power" with david westin.ooking forward to that on bloomberg. ♪ jonathan: from london and new york for our audience worldwide, good morning. about one hour away from the opening bell in new york. we fade a little bit on s&p futures. alongside tom keene and lisa abramowicz, i'm jonathan ferro. with economic data, here is lisa. lisa: housing starts coming in a little bit below estimates, 1.40 5 million housing starts. momentum pulling a little bit, for tickly as we see the wildfire. building permits -- particularly as we see the wildfire. building permits coming in ahead of expectations. aped highlights the k-shpae recovery. people who have the ability to buy a home are doing so. even as we see evictions and rent delays picking up in other regions. piloting the dissidents of this economic recovery. jonathan: what we call? the hamptons manchester -- the hamptons and pastors bread. lisa: greenwich manhattan. jonathan: headlines coming from the president of the united states. he wants a bigger stimulus bill than th

it will keep david westin busy. jonathan: it will keep david westin busy.ll keep all of us busy. alongside tom keene and lisa abramowicz, i'm jonathan ferro. your equity market pushing higher, up 11. we advance 0.3%. nasdaq futures up 0.3%. up next on this program, lale topcuoglo of johcm on this credit market. this is bloomberg. ♪ jonathan: from london and new york, this is "bloomberg surveillance." alongside tom keene and lisa abramowicz, i'm jonathan ferro. equity futures drifting higher by about a third of 1% on the s&p 500. a headline coming out of europe. big headline. i did not think i would be doing this four and a half years. here we are. is said they might get a smaller catch in the united kingdom. let me just get to sterling. 1.31 handle of the pound off the headline of may be some kind of agreement on fishing. tom: is a serious issue. we spoke with one of the key ministers of the republic of ireland and ran through the spirit it is an intractable issue for a lot of the coastal parts of the united kingdom. out over the channel, out of the it goes

david westin and alex webb of bloomberg opinion. david is the anchor of "balance of power."ll come back to him a little later. i am sure his show will be dominated by this, and his conversation with the house speaker. there's a conversation now coming back the other way from google. a spokesperson saying that the doj antitrust case is "deeply flawed." this is bloomberg. ♪ ritika: coming up later today on "balance of power," house speaker nancy pelosi. that is at 12:30 eastern time. this is bloomberg. ♪ erik: this is "bloomberg markets." i'm erik schatzker. andks are near record highs credit spreads are near pre-pandemic. where do you invest with an election looming and coronavirus cases spiking? head ofk henry mcvey, global macro and asset allocation at kkr. i know you have been watching coverage of the doj suit against google. i certainly have. is it possible that a broad antitrust crackdown against big tech, not just google, but potentially facebook, amazon, etc. could constitute a macro ?isk henry: i think that is a fair assessment. you saw this around 2000 with financial

power"up, "balance of with david westin on bloomberg television and radio. bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. ♪ david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. we start with big news that broke earlier this morning. democratic vice presidential nominee kamala harris has suspended her campaign travel until monday after two of her aides on the campaign trail tested positive for covid-19. we welcome chief washington correspondent kevin cirilli. what do we know? kevin: the biden campaign releasing a s

the speaker was interviewed last hour by david westin. speaker pelosi: we all want to get an agreement because people need it. it is urgent. our economy needs it. we have one bump in the road with the appropriations committee. not sure they will be ready, but let's hope that they are. we are starting to write the bill. then we can have the negotiation. i am optimistic. mark: those familiar with the talk say a price tag for a potential deal is inching closer to $2 trillion, though, numerous policy differences remain unresolved. president is demanding that attorney general william barr begin an investigation of joe biden's son hunter. the president was responding to a question from fox news about a weather a special prosecutor should be appointed to probe unsubstantiated allegations against hunter biden. the president wants an investigation started before the election. airport isathrow offering passengers a rapid coronavirus test with results in one hour. the tests are available to those flying to hong kong and italy. those are two other de

i've got to go to a conversation with speaker pelosi that david westin will have in the noon hour, and i wonder if she will want to negotiate. jonathan:jonathan: it really sets the stage for the talks ahead. who has the biggest incentive to move the dial? the democrats to come down, or the republicans to come up? i think the headlines of the last 24 hours, for anyone in government, are not pretty first of the -- pretty from some of the biggest companies in america. what we had months ago was a shock to this income market. the fiscal assistance, and the minds of many, still very much needed. tom: we need a one hour conversation with our guest to open this. bloomberg across the state of new jersey. he is a financier with a career at goldman sachs. he is a diplomat, with his public service to the nation as ambassador to germany. but now he is in the trenches as the governor of new jersey. we are thrilled phil murphy could join us this morning. what do you need from president biden when he shows up in january? gov. murphy: good morning to you all. we need it before january. i can't say eno

of course, speaker pelosi with david westin yesterday. i am going to be benevolent here and believe may be these illnesses are a catalyst to compromise. maybe. jonathan: maybe. joining us now, kevin cirilli, chief washington correspondent. we have to start with an update on the president's health. kevin: good morning. president trump and first lady melania trump announcing that they have in fact and diagnosed with covid-19. the question this morning's weather on that the american people and the world will hear directly from president trump. that is an option i am told is being weighed at the white house. they have been quarantining, according to their public statement, in the residency of the white house. the statements have been pouring , asrom the vice president well as other embers of the cabinet. -- other members of the cabinet. the other question is the impact this will have in terms of how the president, how his staff chooses to communicate in real time with the president's ongoing illness. this is the first time since the attended

david westin will tame the discourse this afternoon. this is in the 12:30 moment, with two from florida, neal dunn and debbie wasserman schultz on florida. the pulling there is really interesting, to say the least. it would weston with an update. futures -38 -- david westin with an update. routers -38. this is bloomberg. stay with us. ♪ francine: this is bloomberg surveillance. the institute of national finance has gathered top executive this week to tackle the most critical issues facing the financial industry as a result of covid-19. anne richards is among the speakers at the virtual event and joins us. usually joining us from the imf world bank meetings. there is so much going on that we want that we were not sure what to start with in speaking to you -- we were not sure what to start with in terms of speaking with you. the worry is that there is a shock out there because of the u.s. elections, brexit, covid and all the uncertainty. what is the market looking at? because is interesting it looks like we had six months of the year -- t

i'm david westin. this week, special contributor larry summers of harvard. man alan greenspan. our: we have to recognize entitlements. david: roger ferguson. former ibm ceo sam palmisano. sam: you miss innovation cycles because you are distracted. and you're constrained during innovation. david: katie koch of goldman sachs.

coming up, balance of power with david westin. speaking about the foreign policy that -- of president trump and joe biden on display at the debate last night. this is bloomberg. david: from bloomberg world headquarters, i am david westin. welcome to "balance of power." as we come to air, breaking news out of the white house. president trump says israel and sudan have agreed to normalized relations. earlier -- mike pompeo traveled the region and talked to the sudanese. we thought this might be in the works. we will bring you more as it develops. we will get to talk with ian bremmer, the head of eurasia group later this hour. let's get a check on the markets. joining us is abigail doolittle. i'm not sure the stock market knows where to go but i don't blame it. abigail: it is hard for investors for what is going on and what might be ahead. a little bit of a down day, similar to the other days this week. it moved up and down. fluctuations between gains and losses. the bulls and bears don't have much conviction.

will be driving the conversation forward on" "balance of power with david westin on bloomberg television. this is radio -- this is bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. ♪ david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. we want to start with a check on the markets. joining us is abigail doolittle. i saw the equity markets move about 20 minutes ago on this news that larry kudlow told foxnews the president has approved a broader base to mila's proposal. abigail: indeed. we are at session highs. --is a big contrast investors trading

coming up, alan greenspan former federal reserve chairman will be joining david westin on "balance of bloomberg television and radio. do not miss that. this is bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. ♪ david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. i want to start come as we do every day, with a check on the markets. joining us is abigail doolittle. what are the markets telling us? abigail: a lot of uncertainty still. that has been the theme all year , especially as we've been getting closer to the election. we've been flip-flo

power,"p on "balance of david westin. not miss that. more tops on stimulus.is bloomberg. -- more talks on stimulus. this is bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. ♪ david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. president trump has been speaking today at the economic club of new york, at least virtually. he had a lot to say about the plans he has for the economy. one of the things he addressed is the need for stimulus, saying we needed at least for certain targeted industries committee wishes the demo

nancy pelosi david westin at 12 noon today. -- 12:00, noon today. this is "bloomberg surveillance."al moment as we speak with ian bremmer on the group report. what i love about the report is that it talks about the unknown, unspeakable's of this pandemic. the state of our labor fragility and state of our mental health conditions, as we

coming up in the next half-hour is david westin on balance of power. chair of the state democratic party in wisconsin, ben wikr. this is bloomberg. ♪ it's moving day. and while her friends are doing the heavy liftin jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? delegating? oh, good one. move your xfinity services without breaking a sweat. now that's simple, easy, awesome. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. bloomberg --david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. i want to start with a check on the markets because they're not liking what they are seeing. joining us is abigail doolittle. particularly the s&p is not happy today. abigail: we have a pretty risk off day relative to stocks and the markets overall. for its worst da

david westin just killing it today. speaker nancy pelosi to wander by.ah dingell of michigan, my favorite of the congresswomen of congress, on her battleground state. futures up 12. this is bloomberg. ♪ >> on day one, joe biden will repeal that tax bill. what he will do with the money is invested in the american people? >> on day one, joe biden is going to raise your taxes. it is remarkable. right after a time when we are going through a time, almost 22 million jobs died, we have added back 11.6 million jobs because we had a president who cut taxes and rolled back regulation. industry, youuto voted against it. let's set the record straight. >> american people deserve to know, senator harris was one of only 10 members of the senate to vote against the usmca. it was a huge win for american automakers. it was a huge win for american farmers, especially dairy in the midwest. tom: i would suggest the most important moment in our political season. normality with the vice president and senator. extraordinary to see the hugely anticipated vice presidential debat

she will be speaking to david westin tomorrow. speaker pelosi will give that interview. either way, it's looking increasingly likely that more additional fiscal stimulus will have to be punted until after the election. the markets starting to react to that, starting to bake that into some of their expectations. taking avin cirilli look ahead to the vice presidential debate. we will be back with him shortly. our next guest is not expecting any stimulus before the u.s. election but he sees a silver lining being a democratic sweep when more stimulus arrives after the vote. according to some strategists we have been speaking to at bloomberg, a democrat sweep would boost asian equities as well. let's bring in our guest. he joins us from melbourne. if you get a democratic victory, the swell of more generous stimulus that comes after that means a boon for asian equities, not so much for the region's bond markets. >> more or less. i think that is actually what the market is positioning for at the moment, this sort of blue wave ahead of this particular election. right now, if you

david westin focus on election.ce of power, michael wolff of aggregate, that is the right person to talk to about the strategy forward for technology as they strategize about politicians in washington. this is bloomberg. good morning. ♪ >> we have doubled rates revenues for four quarters in a row. sustainability of revenues is a key factor. we think the second quarter experience showed us households and corporate are relatively resilient and governments are in a position to support the economy through uncertainty. tom: the head of deutsche bank having a good day. daniel schaefer did fabulous work over the last 12 hours. if you want to buy six bedrooms, five baths, 26,000 square feet, you have to pony up $11.3 million. to do that, you have to have a good year in hedge fund or get a bonus or plural boni out of your bank. the only theme that matters in banking in europe today. who is right? ubs or deutsche bank? daniel: it is a matter of the overall pay. disparities inhe terms of base salary, particularly among the sen

coming up on balance of power, the boston consulting group ceo will be joining david westin on bloomberg bloomberg. ♪ ♪ david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, i am david westin. welcome to "balance of power," where the world of politics meets the world of business. we will start as usual with a check on the markets. i do not see a lot of direction and equities, help me. tech is hogging the spotlight. a big m&a deal in the chip sector while the first big tech names reports results after the close. advanced micro devices buying xilinx, value xilinx at a 20% premium to its last close. xilinx is the best performer in the philadelphia semiconductor index, amd is the work. -- amd is the worst. microsoft higher, cloud computing will be a big winner, a lot of optimism embedded in the stock, it is outperforming the rest of the tech sector and the broader market. the nasdaq 100 is the winner of the major indexes. it is outperforming the