this is bloomberg. ♪ nejra: "bloomberg daybreak: europe this is "bloomberg daybreak: europe."m narrative -- this is "bloomberg daybreak: europe." i am meriting its. manus: i am manus cranny. assets for the nine-month period of 209.4 billion swiss frames. joining us now from frankford is then. -- zeno staub. storye look at the growth , you have done a deal recently. youg after u.s. taxpayers, bought a business, you are building that business. is that the direction of travel and are we going to see more deals like this? for us, our key priority has been and still is organic growth. the story over the last seven years shows we have been able to grow our business organically successfully. we have seen the markets and the capabilities we have designed, but we always like to do add-on acquisitions which would bolster our growth. the deal we where able to view is strong testimony to that. it gives additional volumes to clients and a core market of ours, which is the u.s., and it gives us a long-term partnership for further client referrals with the u.s. background, so that is a nice

manus: a warm welcome to "daybreak: europe." of these different breaking news for you this thursday. let's get into it. lehman delivering their numbers to us. a buyback for you if you are a shareholder, it's coming. up to 3 billion euros worth of 2021.by november rewarding the shareholder, a headlines, your read business profit, 2.15 billion, beating what the market expected of 1.59. and the industrial profit margin will be 11%-12%, that is the guidance for them. the power and gas, you are seeing fourth-quarter power and gas slumps but the fourth quarter be, just digging a little more into it you can see the profit and most of the byiness is largely offset but it's aas, buyback and upbeat will we -- we will be focused on. what's going on in saudi arabia and iraq? at 6:30speak to the ceo a.m.. what a monster delivery from this man himself. good morning, let's get into the banking sector. numbers from commerzbank over in germany. trying to gut -- growth through client acquisitions. what wasve anticipated. the outlook remains uncha

dubai, this is bloomberg daybreak: europe. nejra: fighting the fed. trump renews his attack on the central bank. we hear from jay powell after other officials paint a mixed picture. the prime minister backing down from a key battle in parliament. is it a risk for theresa may's deal? and trade optimism. larry kudlow was hopeful for a breakthrough at the g20 but washington will not hold back on terra if there is no progress -- tariffs if there is no progress. manus: a warm welcome to the show. theresa may goes on tour. visiting? the pound is virtually flat as we start the trading day. we have done our survey. we spoke to 17 strategist and fund managers. quite a substantial majority, 45% suggest this deal will get voted through. 134 on a vote through. 125 on a novo -- no vote. interesting. goldman sachs said you need a one million barrel a day cut to bolster the market. $50, you got credit. thrifty 50. good morning. nejra: good morning. definitely still focusing on european politics today. some saying cable could drop as low as 110. 125.are questioning s

good morning, everyone, and welcome to "bloomberg daybreak: europe."under an hour away from the european equity market open. yesterday, we saw equities more thaner by 1%. the s&p 500 briefly flirting with a correction. apple in a bear market. it was a punishing session for u.s. stocks. we have seen asia in the red but it looks like we could see a little bit of a rebound today. u.s. futures are moving higher. ftse futures up by .25%. cac 40 futures moving higher by .5%. buyersis mean the dip are starting to come into the equity market or will this be a short-lived relief rally after the pain we saw yesterday? credit still a big question with both described widening out to two-year highs. another part of the bond market is fixed income. the 10 year treasury yield has not moved up all amount throughout all of this. .3 07 handleoughly today. we could see a bit of tightening in the btv bund spread. we have had some comments in ated in less tampa -- paper that markets might be calming. thes concerned about spread. this is how we are going to see the open in

banks, that is next. ♪ anna: this is "bloomberg daybreak: europe."ck out what is trending. first we go to twitter and tictoc. companies are uniting in hong kong to put an end to the sharp -- in trade. bloomberg.com, the launch of rockets in new zealand promises a new era for access to space. our most read stories on the bloomberg, third-place, california faces the most distracted series of wildfires in its history. pressure is building on theresa may. president trump appeared isolated after macron slammed nationalism during world war i commemorations. we heard the details before the break from annmarie hordern. let's get to the business news. densely humphrey has an update. >> as jack markell pierced to step down, alibaba has not -- has another record. -- jack ma down,epares to step alibaba has another record. offers a gauge of consumer sentiment amid slowing economy. software giant sap is buying call tricks international for $8 billion in cash. last month, they filed for a u.s. ipo. it will operate as an entity within the cloud group after the deal

this is daybreak europe. continuing from the united states into asia. that is leading the msci red.pacific 1% to the there has been a broad selloff. a couple of reasons. some specific to apple and the iphone and expert haitians as to whether we will see continued levels of sales and there is also the general concern around regulation in the sector. and the trade tensions. could they weigh on this sector? lead to trade and another downturn in the equity markets? we saw the big equity benchmark in the united states down by more than one play 5% in yesterday session. nasdaq futures suggest they will be down again. certainly, the focus is on tech. and also on autos. nissanpe, renault and taking the edge off of things. the pound is pretty stable at this hour. may at the cbs today addressing business and getting businesses to support her brexit plan and so far, not facing a leadership challenge. something coming up later in programming, we will be speaking exclusively to the vice chancellor of germany. let us check in with the bigger picture story and the det

manus: this is "bloomberg daybreak: europe." these are today's top stories.ejra: equity markets rally on the fed chairman shift in tone. treasury yields dropped but how long can it last? carney's doomsday warning. he outlined a dire scenario for the economy if written crashes out of the eu -- britain crashes out of the eu. trade watch. president trump arrived today for the g20 summit. i over dinner on saturday. we are live from one osiris -- aires. ♪ manus: a warm welcome to "bloomberg daybreak: europe." how long will this theoretical -- possibly left? the dog -- last? this is the dollar index. we have dropped by nearly half a percent wednesday and we are adding to that. is it that the fx traders smell the top? that is what deutsche bank is saying. they say that data dependence was -- that lipservice was paid to in the u.s. in the fed. now it is coming alive. deutsche bank saying we have approached the top. you have the dollar, indonesian repeat. a weaker dock -- indonesian rupiah. a weaker dollar and you see the strength in the rupiah. all of these emerging-

this is bloomberg "daybreak: europe." these are today's top stories. ,ejra: cabinet crisis averted at least for now. tories plot to kill her brexit deal. trade compromise, beijing may outline is here is a possible concessions for the first time since the summer. manus: let's get into brexit. the pound has gained since news that theresa may has secured the banking of -- backing of her cabinet for an e.u. divorce plan. maria is in brussels, straight to you. theresa may may be able to get a deal cleared in her cabinet and i think the phrase is, it was a collective decision, but what about parliament? maria: that is still the big question. yesterday what we saw is the -- the entire conservative party. at one point we were told she was not in a position to give a statement can she did, but friendly did not look happy. the was supposed to be brexit deal that she said came down to one choice, take this or go back to square one, no deal. speculationhearing there could be a leadership challenge. again, it looks very shaky for ther

this is a bloomberg daybreak -- europe. jra: trump talks of more china tariffs. he says iphones could get hit. trump weighs in on brexit. parliament votes on december 11. we hear across the spectrum upon and doves today. ♪ manus: welcome to the show. oil is at the bottom of your screen. you saw a heck of a route yesterday in wti. on monday. inventories, we expect those for the first time in 10 weeks. we saw jockeying in between microsoft and apple. this is just nipping a little bit lower. this is the gentleman who point the rolling bear market. he says there could be an earnings recession. how are you doing? good morning, manus. i am doing great. got mentioned in trump's interview he gave to the wall street journal. nasdaq futures are actually leading the losses. down 3/10 of a percent fair. led the retail stocks rally in yesterday's u.s. session. we saw dollar-yen hit a one-week high. saw that safe haven bid in the session. have a date now for that crucialntary vote, that vote on theresa may's brexit deal. that deal will be pushed to the public. today, anlater e

much, thank you so you for joining us on "daybreak europe."ack to earnings and immerse, the mark's -- and reported profit that beat analyst estimates. the exchange rate continued to weigh on profit. us is the cfo. great to have you with us. thank you for joining us this morning. despite the fact that we have some positive read through on your numbers and your forecast and particularly for net sales growth in 2018, we are seeing trading down. something is rattling investors here. how exposed are you to forex troubles in the fourth quarter, could this be what is rattling investors today? marcus: good morning. we have seen by and large from reliefond half of 2018 for an exchange situation in a way that important currencies have improved compared to the euro, compared to what we have seen in the first half, we had a strong headwinds. we have seen, we have struggled with the depreciation with the latin american currencies including the argentinian peso and the real which hit our bottom-line pretty hard. in the third quarter we expect to see it to c

not quite daybreak here in europe.way forssion asian equity markets a day after the fed said its course for further interest rate hikes. -- itg changed, the set gave the market something to think about it let's check out these broad market moves across the world. joining us now, our partner in you buy. -- the by. relatively resilient, indian markets. fell, that ise helping sentiment there. >> in the case of the indian market, crude prices falling down triggers or spite. india is doing better. the bank index doing ok. , the currency has strengthened. the rupee strengthened credit -- quite a bit. if you take a closer look at what is happening, everything that benefits from crude oil price falls. oil marketing companies are doing well for themselves. what are doing well are the ones who don't benefit because of the appreciation of the crude price. the i.t. companies taking a bit of a beating. i think we are doing well for ourselves. anna: thank you very much. danny, when you looking at this morning? >> gains for the asia-

welcome to "daybreak europe." brexit and the pound plunging on the news of resignations within theresa may's cabinet and a possible leadership challenge. the prime minister has vowed to carry on. annmarie hordern is in westminster. let's come to you first. is theresa may's time finally out? >> she certainly does not think so. thought she was giving a resignation speech, but she pivoted and said she wants to stay on and see this through. she is waking up to massive hurdles. will she face a no-confidence vote? the brexiteers are lining up. the former leader has sent his letter. they have the numbers to mount a challenge. do they have the numbers to oust her? secondly, her cabinet is getting smaller by the moment. she lost to cabinet ministers yesterday. a massive blow to the prime minister. the other three names being spoken about today are michael go, his office declined to comment on reports he was next. other names being talked about, penny and andrea. quite a busy morning for the prime minister. she will be spea

this is bloomberg "daybreak: europe." and these are today's top stories. the market take the policy but will the fed, goldman and jpmorgan still betting on vibrate hikes by the end of 2019. hikes by the end of 2019. and last-minute -- to brussels. theresa may fights to keep the summit on track. nejra: good morning, it's 6:00 a.m. in london. here is what is happening in the markets. we've taken a pause in the market selloff. we for energy and tech shares lift the s&p 500 to some modest .3%., up u.s. stock and bond markets are closed for thanksgiving break today so there is no cash trading in treasuries, no trading inequities, but futures are up and running and u.s. futures are slightly higher across the board. .1 percent on s&p futures. ten-year treasury yield ended prematurely started. a touch of dollar weakness, holding on to some losses from yesterday as crude oil up by .4%. coming into little bit of pressure because of inventory data out of the u.s. and also comments from president trump. coming up later, we speak with the socgen chairman, that conversa

this is bloomberg. ♪ nejra: welcome to daybreak europe.berg's from european headquarters in the city of london. here are today's top stories. hedgerow sanchez says he will vote against the eu. -- hold on.ld a new alliance. this is said to be seeking review of its shareholders. freshldman sachs faces questions. a malaysian financier at the center of scandal. ♪ nejra: 7:00 a.m. in london. an hour away from the european equity markets. let's take a check on how the futures are doing. u.s. markets were closed yesterday, because of the thanksgiving holiday. yesterday, we start the stoxx 600 close 7% lower. futures higher by 2/10 of a percent. 100 futures struggling for direction. a big move in the pound, yesterday. future relationships between the eu and the u.k. went down in brussels. u.s. futures are pointing lower in terms of how those equity markets could open up. let's take a look at the bond futures as well. that is something we need to add. we have not seen treasuries trading through the asian session. but to really, treasuries have been

this is bloomberg. ♪ anna: this is "bloomberg daybreak: europe." let's check out markets.e move thanks to bloomberg reporting. the msci asia getting a boost from president trump administration, getting ready it seems to pull together the paperwork for some kind of trade deal with china. hang seng responding to that reporting as well. -- nymex crude oil price previously we had seen some weakness. let's have a look at nasdaq futures. that is only slightly different. point 6%, but not as much as other markets in the united states. the apple affect weighing on nasdaq futures. the bloomberg dollar index fairly flat. >> blackrock's european hedge fund is said to have had the worst month ever in october. sources say the fund fell 8.5% having been of more than 10% since september. the global selloff has hit the hedge fund industry, wiping out most of its games for the year. on the verge of turning a profit. a giant u.s. battery factory operated for tesla makes money on power packs for tesla's model s. it hopes to follow through soon on the model three. tesla hass bet on been a sou

this is bloomberg. ♪ anna: this is daybreak europe.heck in on what is trending across the bloomberg universe. we'll start with tictoc on twitter. michael jordan is making a bet on eastport with his nose investment. he's put $26 million into axiomatic aiming off the ground. -- gaming off the ground. president trump wants to reach an agreement on trade with president xi at the g20 meeting later this month. we've seen the impact across equity markets. and our most read stories on the terminal. third-place, chinese stocks sending a scary signal about the economy. sachsond place, goldman makes a painful transition away from libel. and our most read story is apples underwhelming iphone sales. let's get a bloomberg business flash. yvonne man has the details in hong kong. yvonne: blackrock's european hedge fund is said to have its worst month ever in october. the fund fell 8.5% as global markets sold off having been up more than 10% through september. the global selloff hit the $3 trillion hedge fund industry, wiping out most of its gains for

good morning, this is "bloomberg daybreak: europe." it is 6:01. ; 01 in paris. we need to go to it -- 7:01 in paris. third-quarter net profit, one billion euros. saudi is in my what the estimate of 1.0 8 billion or ace shade -- or a shade above it. they are ruling backed up by back. in terms of revenue number, that looks to be in line at 4.8 billion euros. over to 4.85. here is the interesting part. now we get to the fixed income side of the business. fixed income currencies and commodities. the investment bank revenue down by 16% there. as i said, the company is confirming its overall target for 2019. in investment banking we have a new head of investment banking. jack has taken over leadership of the investment bank and we have seen contraction at deutsche bank. perhaps it would not be too much of a surprise if they were on the same path there. joins and bankers jumped in just a week ago or so. they certainly have big plans for the investment banking side of the business. that is at 8:30 a.m. london time. welcome back to the dark side. welcome back to the earl

this is "daybreak" europe and these are the tom stories." the i and s.c. microas european opened. president trump criticizes saudi cuts in production and we'll hear from a c.e.o. and brexit talks enter the final stage and italy faces a budget deadline. which assets will blink manage first in the days ahead? break. crude can't cut a all the talk about production cuts has done nothing. look at w.t.i. the longest losing streak on record so all the talk about the possibility of reducing production by a impact barrels is doing very little to give succor to this market. shale is a risk. that's the message from the nigh jeernl c.e.o. and the sauna trek c.e.o. oil just simply cannot catch a break and donald trump is tweeting. he's not happy about the prospect of a cut. coming up, we're going to talk the oil minister from the conference right here ined a dab. that's in about 20 minutes' time. anya, good morning. anya: good morning. plenty to talk about regarding the oil price. asian equity markets are weaker but s&p features, interestingly, do trade higher so we're expecting those concerns

this is "bloomberg daybreak: europe." the u.s.ions on iran as oil continues its longest losing streak in six months. ,hina's xi jinping slams the quote, law of the jungle in a job that donald trump's policies -- jab at donald trump's policies. asian traders don't buy the platitudes. stocks slide in china, korea, and japan. u.s. futures point to a lower opening. warm welcome to daybreak europe. we started the year with synchronize growth and acceleration. what are you looking at? paris, and frankfurt all indicated lower, taking their lead from the chinese market and the water that larry kudlow poured all over the effusive rhetoric from the white house in regards to china wanting to do a deal. larry kudlow poured water over that. nothing has changed. london, paris, and frankfurt indicated ever so slightly. we had the best week since 2016 in european markets last week. to a certain extent, there is a natural moment for pause. the shorts got squeezed and here you are taking the pulse. where going into the midterms. it's fed week. sanc

. ♪ manus: this is "bloomberg daybreak europe." i am manus cranny.ejra: i am nejra tickets in london. as we wait for earnings from shell, let's look at the big oil companies that have reported so far. on the 26th, an italian company reported an earnings surge thanks to an increase crude price. total followed suit, but said it was keeping a lid on spending. manus: when it comes to bp, estimates,ched giving them confidence to fund their $10.5 billion u.s. shale deal with cash. will the profit surge continue with shale? that is the question. shell will come out with their numbers shortly. they are the lng beasts of the world. the price of brent rose in the third quarter more than 4%, helping the european energy sector outperform, much more than the stoxx 600. if you look at the market, goldman sachs says $80 is still attainable, and we should not fret over demand. it's about demand. inhave a jmmc in abu dhabi eight days, when they will look at the numbers, compliance, trying to stabilize the oil market. nejra: nejra: that will come back in focus. for oc

this is bloomberg daybreak: europe. these are the top stories. asian stocks are mostly positive. you must futures are dead flat. there is the hope china's vice readiness.ignals a we will be speaking to the ceos mobil, and fedex, right here. ♪ manus: we are live in abu dhabi. that does not stop us from bringing you breaking news. 14.85 is the third-quarter revenue. about jobese stories cuts. estimates flipped. there is just that little bit of a drop. going through a monster transformation. net income, 1.2 6 billion. june, they said the prophet for this year would drop. 3.2 billion. they are confirming their earnings target for 2018, and through 22020. there are bright headlines. eadlines.d h i don't we have a number to get through. friedman is to leave. ofre has been a great deal change in regards to one of their hedge funds. alexander friedman is to leave the company. have more on this story throughout the show. -- a new ceo at gam. david jacoob. -- david jacob. you have more? >> let's have a look at what is happening with the asian trade. the u.s. midterms are very much in focus

that is it for bloomberg daybreak europe. ill join us from the cbi conference in europe. we will have a break -- a big brexit focus. if you have to step away from your tv, and you are traveling to work, tune in to bloomberg radio live on your mobile device and on dab digital in the london area. this is bloomberg. ♪ i am a family man. i am a techie dad. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome. nejra: good morning, welcome to bloomberg markets. we are live from our european headquarters. alongside anna edwards at the cbi conference. anna: good morning. i am here in central london where theresa may will try to sell her brexit deal to business leaders as she finds almost insurmountable opposition in parliament and a possible leadership challenge. the cash open is less than 30 minutes away.

she will be joining us on bloomberg radio's daybreak europe live as well so you can get more from her of the stock movers this morning, including beyer. an exclusive interview with the ceo next. this is bloomberg. ♪ anna: welcome back to the european open. we are 10 minutes into your trading day. bayer as reported higher than reported earnings for the third quarter. thefirst indication of how german conglomerate is performing after the takeover of monsanto. though the full impacts is difficult to gauge, the company's top science division has reported double sales. joining us for an interview on the phone in germany is werner baumann, the ceo. thank you for joining us. let me ask you -- congratulations on beating estimates. if we look back at these numbers, back in september, you said you had no regrets with regard to the monsanto purchase but given the fall in the share price and legal challenges you face, do you still have no regrets? werner: first off, good morning and thank you for having me. i can only repeat what i said in september. i'm very happy to start with integration. a go

daybreak.". i'm alix steel. dow futures down 63 points. a soggy mess all over europe as well. major indices down.ankshares have not performed as negatively as other asset classes. it seems the budget deficit may reduce to 2.2 percent. optimism not felt in euro-dollar, which is interesting considering the move yesterday. euro-dollar flat on the day. anything is flat on the day. the only big mover is cable, down by six tens of 1%. -- .6%. said thisf the party is a wasted visit. don't bother even coming. you can't get more clear than that. david: it is hard not to feel sorry for theresa may. she is trying so hard. alix: at 1.i want to be like, you guys do it. i'm going -- at one point, i want to be like you guys do it. taylor riggs is here with first word news. ministerritish prime theresa may is in belfast to sell the brexit plan. the unionist party is opposed to the agreement. northernt impales ireland's place in the u.k. by potentially trying to break the eu whirls and definitely. her try will be a waste of time. paul manafort could face a lengthy prison term. special counsel robert mueller has a

daybreak." recover after the selloff yesterday. nasdaq futures trying to stabilize. disappointing earnings. react.idn't good news for stabilize asian stabilization. europeeing close for brexit euro-dollar up by .4%. italy yields up three basis points. they sold 5.5 billion euros in a .ut spread -- in a bond spread a little buying on the back and appeared yields down by two basis points in the u.s. recruited royal. crude rolls over. loans the lowest this year. i wonder how that is for collating in the commodity market. david: that is fascinating. they were deleveraging. alix: there wasn't the velocity. time for an update on what is making headlines outside of the business world and we turn to emma chandra. wildfire in california is the deadliest in history of the state. the death toll is 42. the fire has destroyed more than .000 homes and structures in southern california, firefighters appear to be gaining ground. a week after election day and an upset victory for democrats in arizona. kyrsten sinema is the first democrat to be elected for the state in three decades and she beat out a fellow member of the house and she will be the first openly bisexual s

attention to another key concern in europe, italy,'s warning to officials flagging potential damage from the budget fight. ♪ rom the budget fight. ♪ >> this is bloomberg daybreakess flash. -- likely to lead to changes in the world's largest auto alliance. three days without -- allegations of financial misconduct. bloomberg has learned they will try to create a more equitable partnership with rerenault. porsche plans to boost operating profits by streaming operations. bloomberg has learned that the german luxury automaker will be spending more to develop and manufacture -- businesses such as digital offerings. for itsis headed seventh weekly loss. features were down more than 3% in new york. itsi arabia is signaling output might have reached a record. and concerns about a supply glut. oil?: how about that when i came into the office, people were saying, could possibly go below 353? caroline: we are at the lowest we've seen wti trading since october 20 17, 7 straight weeks of losses. we have to go all the way back to of5 to see this as a concern, all surrounding the fact that saudi arabia is still pumping at -- david: not to speak of the shale producers, trying

daybreak." you have to feel sorry for mark carney. on thehey have a deal banks having access to the market in europe.? david: you behave yourself. alix: it makes sense. in the markets, you can look at the clarity when it comes to

europe. shery: sanofi china chairman speaking to bloomberg in shanghai. you can get a roundup of the stories you need to know in today's edition of daybreak.go to on your terminal. you can customize your settings so that you get the news on the assets and industries you care about. this is bloomberg. ♪ is bloomberg. ♪ >> no, no. >> christine. will the u.s. be the dominant power 10 years from now? >> if you are talking about the economy, well economically, militarily, diplomatically. militarily, yes. economically, no. >> i don't know. but i'mbe a key player, not sure it will be the dominant player. >> the u.s. will be extremely important economically, politically, militarily. whether not it is the, i'm not sure it is "the." 10 years from now come at the u.s. will play a meaningful role in the world. , the u.s. will play a meaningful role in the world. paul: that was our guests speaking yesterday at the bloomberg new economy forum. shery: air asia may be shifting support for the airbus and is looking to convert some orders to the larger plane as it copes with rising oil prices and robust travel demand. tony fernandes spoke exclusively t

daybreak." you have to feel sorry for mark carney. on thehey have a deal banks having access to the market in europe. alix: we will get a deal, but be in a deal, basically? david: you behave yourself. alix: it makes sense. in the markets, you can look at the clarity when it comes to cable rates. moving higher into that boe meeting this morning. up .8%. we are seeing some profit taking on the dollar. s&p futures up 13 points. mutual funds, pension funds, or they having to rebalance for tax reasons. do we see a steady rise over the next few months? 3.16 on the 10 year. crude off .7%. potentiallyit out, korea and iran will get waivers. david: with some strings attached. it goes into an escrow account. at least that is the report, that maybe it won't be as dismal. alix: and you have an oil price shock. time now for the morning brief. 8:00, the boe rate decision and inflation report followed by mark carney's news conference at 8:30 on bloomberg television. also, last week's jobless claims for the u.s. 9:00 come automobile companies will announce vehicle sales. apple will announce earnings after the bell.

daybreak," i'm alix steel, happy friday. non bang for the equity market. 6/10 of 1% following asian stocks lower, following euro stocks lower. the biggest loser in europeian market, down by 1.4%. the italy pushing back on eu, pushing back on the budget deficit for 2019. currency market, bond market, safe haven trade. yen and dollar are the winners in g10 space. down 2/10 of 1%. u.k., yields lower three basis points. will we get a deal? optimism in the last 48. it will be a safe haven trade, buying everywhere except the italian bond market. the u.s., 2-10 spread continues to flatten. commodities getting hit hard. copper rolling over on the china weakening factory inflation. brent off over 1%, down below $70. wti in a bear market, how far? we are following that as well. update on outside the business world. the trump administration is moving to restrict asylum claims by migrants from latin america. this would move people from claiming assignment, the rule will be challenged in court. in california, tens of thousands of people have fled from wildfires. people living from paradise, had to evacuate. the town has been wiped out. bank of america has spent $40

daybreak . and ugly session involving in the morning. s&p futures off by 24 points. nasdaq futures off by over 1%. the tech selloff in the u.s. spread to europe asia and continues here. you have target earnings. comp sales do not be estimates. that was disappointing, as well as kohl's. their midpoint earnings guidance missed consensus. that negative sentiment will be weighing. european stocks down by .7%. auto stocks down .4%. we are still digesting all that carlos ghosn and renault and nissan. it will be a flight to safety. .3%,uro-dollar lower, down breaking a winning streak that lasted five days. the yen is near a two week high. markof england governor carney saying volatility is here to stay. get your options going. .4%.10 -- crude off interesting to see how the session of all when you have the tech issue and then you wind up having the retail issue front and center, where i thought we would be in a better place. jason: i did too. we went in today with the retail earnings lined up, thinking these guys have been positive over the last few quarters. the retail paco lips has not, -- the retail apocalypse has not come upon us. there are not z

daybreak: asia." shery: let's get a check of the latest business flash headlines. a mass protest against how the company has handled claimed sexual misconduct by some top executives. starting in asia and running through europe the u.s. by mass action was sparked google paying millions of dollars to an executive in secret in severance packages. haidi: some shareholders say a deal requires the company to replace elon musk with the new chairman and add two independent directors. in with security fraud has added urgency to changes that investors say are long overdue. fourth-quarter revenue forecast fell short of projections. the company expects to make 1.5 to $1.7 million come at the bottom of analyst expectations. investors are looking for a podcasts,cluding to reduce its reliance on music. snagging at least three senior bankers. an indictment filed in the last hours marks the first charges to the alleged pillaging of the funds. this is high drama and it continues. what are the details of this indictment? this will be an interesting case as it plays out. they are cooperating with this investigation. case of abe the couple bad apples that got around the very strict compliance on such malfeasance? justice hasnt

daybreak. welcome to the day after election day. s&p futures up by about 19 points. lowve richard burr is writing this is the honeymoon, not the rest of your life. in europeally across the board. banks as well, up over 1%. spanish banks are doing really well. that optimism spreading out throughout the sector. other asset classes a weaker dollar is helping boost the euro and also emerging markets. the jpmorgan index up 3/10 of 1%. the relief rally palpable of you are not going to get more deficit spending or issuance for the treasury market. that is helping the dollar and yields. it was a bull flattener. the 10 year option, well off bid. $17 million of 30 year notes today at 1:00. will that take down be a strong with that fed meeting in the spotlight tomorrow and crude up by 1% but opec is going to talk about cutting output in 22 -- in 2019. if you ask goldman sachs ceo it is anomon, overheating economy that he is worried about. we spoke exclusively to solomon at the bloomberg new energy economy forum in singapore. david: we had kind of landed in a place where the polls were right. house,ts took back the the republicans are picking up a couple seats in the