warm welcome to "bloomberg daybreak: europe." on the rooftop for day two of opec and non-opec. the latest line, the russians will consider adding 150,000 barrels of a cut. that is from russian news agencies. no deal there, but the question is how close are they doing a deal? the first time in five years they have broken up without one. the question i asked on this becomes thehe u.s. net exporter for the first time in 75 years. markets are shifting. they are repricing growth. that is a key and if the critical issue is getting everybody in opec on board, perhaps without any exemption. that will come down to the iranians. good morning. nejra: good morning. it does come down to the saudis and on the tliv blog, some are questioning whether the saudis want a deal or not. you have the issue with russia and then president trump breathing down their neck. if we don't get a deal today, what kind of move could we see in the market? given that, the market has been bearish going into the meeting already. just under an hour to the european equ

♪ manus: a warm welcome to daybreak europe.he markets are on the march, higher based on the telephone and a tweet. s&p futures are rallying. mohamed el-erian saying the fed needs a better feel for the markets. you are seeing the s&p rise. goldman sachs have their -- in terms of growth. mohamed el-erian says it will be growth of 2%. dollar-yen, the dollar slightly higher this morning, but yen takes the mantle as the strongest g10 currencies, third year in a row we saw the yen trade up. will it be 2019, the year of the yen as well? let's look at the oil markets, particularly relevant on a global perspective in terms of importers and exporters. hedge funds decided to go long and frisky into 2019. roughly three weeks in a row in terms of net longs on the brent positions. you are seeing the market get long into 2019 on the brent position. long positions jump for the third straight, $70 will be hit. yvonne man is standing by in asia. good morning, good afternoon. yvonne: good afternoon. most markets are closed. malaysia and italy --

that is it for "bloomberg daybreak: europe."en is next. ♪ matt: welcome to "bloomberg markets: the european open." we are live from london. i am matt miller aside anna edwards in westminster. anna: asia falls as china data disappoints. will europe also suffer in equities trade? the cash trade is less than 30 minutes away. matt:

this is "bloomberg daybreak: europe." is today's top stories.ejra: the rally in risk assets comes to an abrupt halt in asia as larry kudlow dials back on trumps trade do with china. bond market moment. the u.s. 3-5 yield curve inverts for the first time in a decade. is a warning sign for the fed? theresa may's attempt to celebrate a deal gets torpedoed by mps before she even starts her pitch. mark carney also faces a grilling from parliament today. ♪ manus: a warm welcome to "bloomberg daybreak: europe." let's get straight into these markets. itsis rising and has had best to date gains since june. day gain since june. one thing to bear in mind, we are in mind, we are conduct cross mode on the bright market, which is where the moving averages cross over one another. there could be a lot of bullishness priced in to the cuts we already expect from the vienna. the equity markets are stepping back their overall belief, in terms of what was affected at the g20. that's by mnuchin, larry kudlow. the indian market stepping back a little bit. let's have a

this is bloomberg daybreak: europe. manus: i am manus cranny.t is in these markets this morning. not that you need us to remind you. the worst quarter since 2015. failing to impress the market. below $50.own shale is a big risk in 2019 and the market does not believe that opec has done a big enough job. nejra: talking about technical breakpoints and oil, the s&p closed at a 14 month low and futures are not looking too positive, pretty much struggling for direction. the10 year yields down and curve has been steepening. will it flatten if we get anything other than a dovish hike? the 10 year btp futures, money moving out of btv -- btp. still below 3%. manus: let's talk about the question of the day with the mliv team. it comes back to the china discussion. whatu are a believer, assets will move the most on china reform? to ourut that question guest. of tavistock investments. we understand that half $1 whation of stimulus -- assets would you want to be long -- in 2019? christopher: going back to trade, china and the u.s. will come to some type of a

that is it for "daybreak europe." , tunee traveling to work in to bloomberg radio. r mobile device. inill be joining you there just over 30 minutes. this is bloomberg. ♪ good morning. we are live from our europe in headquarters here in the city of london. i am anna edwards. stocks putting in a mixed performance after an incredible rebounding u.s. stocks. the cash trade is less than 30 minutes away. ♪ wall street with flash. u.s.

manus: this is bloomberg daybreak: europe. these are today's top stories. >> investors brace for the last polity decision of 2018. the worst year for global equities since 2008. can a dovish hike save the market. italy reaches an informal deal with the eu. the u.k. prepares for a no deal divorce. tanks on itsnk trading debut. we are live outside of the tokyo talk exchange -- stock exchange. ♪ manus: warm welcome. we are preparing for what some would say is an incredibly dovish fed reliefs tonight. will they move the language? looking at the market. to 60 basisould go points going through to next year. it will not be an easy road. whether you think it is all we are bouncing off this 2.80. we bounced in july and august. we have not inverted yet. what are the bond markets telling the fed? they aren't listening to capital hill. or are they? the dollar is down for the third day in a row. city would say that you have almost all the dovish news priced into the dollar. the positioning as such is that it will be very hard for this meet

i manus cranny and this is bloomberg daybreak: europe.hedge life from the city of london -- i'm nejra cehic live from the city of london. manus: stocks start higher following two weeks of lunch dust losses. sid -- losses. earnings worries are overdone. all eyes on the fed, chairman jay powell expected to raise rates by a quarter of a point this week in the central bank's final meeting of the year. but will he dial back expectations for 2019? european political risk watch theresa may face parliament today. bills let and these vote on options on brexit. italy set to offered new targets to the eu. ♪ nejra: just under an hour away from the start of cash equity trading in europe. we could see a positive session. we saw weakness on friday, beside a in global stocks around concerns about global growth, with data out of china and the eurozone feeding into that. ftse futures up a quarter of a percentage point. cac 40 futures tracking higher. u.s. futures edge higher when the s&p 500 hit the lowest since april on friday. we saw health care and tech

this is bloomberg. ♪ matt: good morning, i am matt miller, this is "bloomberg daybreak: europe." aches out to europe, the u.k. prime investor and embarks on a mission to seek help from the european capital. the eu is open to reassurances renegotiations. trade talks move along, not letting the arrest of why ways ceo get in the way. macron promises new spending to end their yellow best crisis but indications are the protests will continue. ♪ matt: 108 days to brexit and theresa may has postponed the key vote in parliament but what happens next? in westminster. let's start with you, give us the layout. know theresa may was facing the option of whether to delay the vote and she descended -- decided to delay. it was a question of whether he would be voted down and she saw it as too much lower risk. we do not know until when and now she is heading to europe to talk to leaders there, to angela merkel in berlin. we hear she will meet jean-claude juncker. got she needs to do now is to the eu and see if she can seek any reassurances on the backstop. the has been the sticking point in the u.

this is bloomberg daybreak europe.ome roaring back after the holidays, with the dow posting its best ever point gain. the nikkei bounces back from their territory. the moves aren't limited to equities, as oil holds its biggest gain in two years. copper the momentum, rebounds on trade optimism as bloomberg learns a u.s. delegation heads to beijing in january. ♪ nejra: good morning. welcome to "daybreak europe," just one hour from the start of equity trading. this will be the first day of equity trading in europe since christmas eve. the move we saw on christmas eve stoxx 600 closing 0.4%, but nothing compared to the bloodbath in u.s. equities, just short of a bear market for the s&p 500. and then yesterday, this blowout session with the s&p 500 and nasdaq gaining the most since 2009, the dow gaining over 1050 precise, theto be biggest point gain ever, and the biggest jump since 2009 for the nasdaq and s&p 500.but u.s. futures are edging a little lower today , so is the gain we saw yesterday, that may not hold through th

good morning and welcome to "bloomberg daybreak: europe." hour away from the start of cash equity trading in europe. we have an indication of where the futures are going through tradingn session with time extended. we have seen the euro stoxx 50 futures come under pressure. quite significantly down one and 1%. it's interesting if you look at the futures. dax futures down 1.3 percent. cac 40 futures off by .8%. ftse 100 futures down by the same. we did see gains for european equities on friday. a different picture if you look at the weekly picture, down almost 3% on the week for european stocks. u.s. stocks had their worst week since march, down more than 4%. u.s. futures coming under pressure as well. trade tensions seem to be escalating around the huawei cfo case that is ongoing. we have been seeing yields moving. let's take a look at what is happening in the bond market. the two-year and 10 year yield coming under pressure. 2.70wo-year yield on a handle. a lot of supply coming into the treasury market this week. how will that help the dynam

. >> this is bloomberg daybreak: europe and these are today's top stories. nejra: risk assets fall after the u.s. and china call for a tariff cease-fire at the g20. is it short-term relief or the start of a battle. saudi arabia and moscow continue regular plan to markets. and u.k. politicians demand the prime minister published the internal detail behind her brexit deal. manus: welcome to daybreak: europe. oh what a circus, oh what a show. up we went. 5% of value.d a new tweet this morning, no tariffs on cars coming into china from the u.s.. we are pumping it out. ground zero for the commodity trade. you see the u.s. to immediately see the china purchases of american products. soybeans. just president gee and president trump, it was putin and mohammad bin salman. this market has the lowest positioning in five years. under love, under owned, we get ready for vienna. good morning. yes, you take a can, you give it a good shake, you kick it down the road, you open it up, the frog will come out. is that we are seeing? morgan stanley basically upgrading its 2019 c

this is "bloomberg daybreak europe." futures drop along with 10 year yields as markets reopened today. and sentiment in asia further knocked with the arrest of huawei ceo. urges opecrump against supply cuts. and brexit recession. theresa may struggles for support in u.k. parliament. of a is a good chance downturn in the event of a hard brexit according to our guest. >> uncertainty will push this economy into slower growth we have had that in the last 12 months. that is reality. manus: a warm welcome. we are live in vienna. thegathering we have had minister of committee. the russians are on board. in principle, six months. cuts, that is the risk. breaking news from vienna. oil is lower. what does it take to put a floor on the oil market? it is freezing. nejra: i am sure that is a shock after dubai. great to see you. i want to see you in it. what is going to be key, as you know, is what kind of signaling the market gets. will we get enough detail, a number? manus: when it comes this number, this is what we have to understa

. ♪ nejra: good morning and welcome to daybreak europe. 6:00 a.m.n london. 1% on themore than s&p 500 yesterday, nasdaq plunging and futures plunging lower, ending just shot of a bear market, down 19.5% from its peak. 10 year treasury yields steady. still not relief in equity markets, certainly in the u.s. session. they question is what -- big question is whether the review is coming from the dollar. we talked about the losses in equity markets. bloomberg dollar index is heading for its worst week in 10 months, biggest drop yesterday in seven weeks. a touch of strength against the yen, but gaining for the first time in six sessions. .8%, bouncing back, up below $47 of wti, but a loss of 9%, so we are heading for a weekly loss. in terms of european equities, the cash market open in europe is in two hours time. we could see a red end to the week. let's check on the market in asia. juliette saly has more. you.to see markets still struggling to climb a wall of worry. juliette: yes, where is that santa claus rally? not here. butmore trading sessions, we

. ♪ manus welcome to daybreak europe.ou have seen a number of american markets close in respect for mr. bush, the former president of the united states of america. you are looking at 10 year government bonds collapsing through the 200 day moving average. that is the critical point. that relationship between the crumbling equity market is back with a vengeance. of,thing you should be wary we saw an absolute drop on yields by 48 basis points. are seeing a huge squeeze in these bond markets. this is premature to presume the cuts are done. we are bringing you the breaking news. there is oil over the past few days. trump wants 50 bucks. the saudi's want $73. the russians are happy with the $65. the next few months will be critical for this oil market. for what is happening with equity in bull markets. i am so glad you brought up that correlation between falling bond yields -- yields and equities. dow, dropping almost 800 points. up andare waking searching for reasons, you are not alone. the inversion of the yield curve in this

welcome to "bloomberg daybreak: europe." the worst week since 2011 for the s&p 500 last week and heading for its worst quarter since 2008. we close lower on the spx. the nasdaq in a bear market but it looks like we could get -- into today's session. we are seeing weakness come through on the bloomberg dollar index this session, all 5.2%. a number of concerns weighing on this session, .2%. a number of concerns weighing on the dollar. and of course, steven mnuchin talking to banks about liquidity, perhaps causing general concern in these markets as well. futures holding up. a mixed session in asia and oil up .6%, 45 .87, a positive reaction to some reporting that 45.87, a positive reaction to some reporting. yvonne man in hong kong has more. yvonne, good to see you. a bit of a mixed session in asia this morning. yvonne: japan is closed. half-day trading and hong kong, australia, and new zealand today. we are well up a session lows we did see in the region. we have been watching some of these lines. steven mnuchin trying to cal

this is "bloomberg daybreak: europe." nejra: these are today's top stories. may survives the coup attempt, but is weekend. will she -- weakened. u.s. stocks, and european futures all in the green amid signs trade tensions continue to ease. plus, plenty of decisions. investors have a heavy day. the ecb when draghi declares an end to the era of on buying. -- bond buying. anda: 106 days to brexit, theresa may survived an attempt to oust her. she survived a no-confidence vote but more than a third of the party voted to oust her. i am out here in the cold. the trends facing theresa may are the same. she still has to get the concessions to placate her lawmakers back home. of the question, whether we will hear from jeremy corbyn. also, what this means for the prospect of exit. will the deal get voted through in parliament? could we see a softer brexit for the second referendum? two of thehed on most important things. our guest thinks we are closer to a general election and another referendum. myriad of streets and corridors behind you, the question for markets, the

welcome to daybreak europe. what a session it was yesterday, the s&p 500 gaining and that translated to a drop of 1.5%, futures point to continued , down in today's session almost -- almost .7 of 1%. equity markets did not take the fed decision and news conference well. was it the fact that further gradual was not taken out of the wasement or the dot plot revised down to two, is it the market did not see jay powell as dovish enough? a dovish hike was expected. was it a policy mistake? entering a bad -- a bear market. .e have had that decision we will talk about that. the 10 year yield has dropped. below 280, we are on a 275 handle, it dropped six basis points. what is the bond market telling us about the decision as most of the move was in the 10 year yields rather than the two-year yields, we had flattening. it continues below. the, was saying that if the fed was hawkish in the market we would see curve flattening and that is what we have seen. thean stanley saying that 10 of the 30 year should outperform the t

kit will be joining me on daybreak europe, live on london dab digital in just about 20 minutes time.ch that by typing radio on your bloomberg. let's take a look at mid-cap movers. dani: one of the few stocks trading higher today is micro focus, up nearly 2%, after they announced a been purchased shares as part of their 400 million euro buyback. people like that just because they announce it, doesn't mean it will execute it. the other two stocks i have, these are both negative tax stories. playtex, the first one done here, 5%, more than 5% rather. this is after news the italian budget that was passed the other day is going to include taxes on online gambling company. playtex said their earnings are going to take a hit from those new taxes by about 20-25,000,000 euros. another tech story here, the french insurance company. they say french authorities are reassessing their taxes over their subsidiaries and putting a larger charge on them. the company says they are contesting that charge, which is 69.8 million euros. matt: thanks very much. dani burger with your mid-cap movers. sust

that is it for daybreak europe. the bloomberg open is next.ing to work, tune into bloomberg radio. this is bloomberg. ♪ >> good morning. we are live from our european headquarters here in london. equities popping higher as u.s. china trade tensions seem to dissipate. also rising,ds the cash trade is less than 30 minutes away. ♪ credit suisse spivack.

>> let me tell you about a big guests coming up on bloomberg television, jack lew will be on daybreak europeing out of sydney, that's a quarter past 5:00. check that out. this is bloomberg. ♪ rishaad: main and market's just set up shop in just a short while. three minutes to go there. hong kong up by 1.4%. david telling me it's off the highs of the day by about 70 points. the shanghai composite eking out some small gains. let's look at some of these , when macau not having a good time of it. that 2.4%, deutsche bank out with a note saying that winter is coming for the casino stocks. on the other hand, we have nano banned, upwill be 4%. also looking forward to the afternoon business in tokyo. look at the latest on japan. some stocks entering the nikkei, couple of them leaving. the japan reopen is next. ♪ place, the xfinity xfi gateway. and it's strengthened by xfi pods, which plug in to extend the wifi even farther, past anything that stands in its way. ...well almost anything. leave no room behind with xfi pods. simple. easy. awesome. click or visit a retail store today. powell: it is 11:29

yvonne: bloomberg daybreak: europe he's coming up.daybreak middle east coming up. this is bloomberg. ♪ emily: i am emily chang in san francisco. company up, while way scrutiny huaweie way -- scrutiny ramps up.

. ♪ alix: this is bloomberg daybreak: europe. i am alix steel.res off. 43% of s&p stocks are now below their 200 day moving average. still looking at the breadth of the market. softer in europe but european auto has taking a big hit, down about 2%. you have a lot of executives from the companies going into the white house today to talk about trade. it is a weaker probably dollar story. -- have cable jumping by .6% 6/10 of 1%. the 210 spread, 13 basis points, following the spread lower and crude jumping about 2%. brett was below -- brent was below. thursday, what they can communicate. we think the fed has a problem communicating, see how it feels like to be the saudi oil minister right now. saudi oil minister made it clear. let's get an update on the headlines outside the business world with emma chandra who is here with first word news. >> officials and china cannot come up with a response to president trump's claims about the summit in trade with the chinese president. trumpals -- president tweeted that china was willing to cut tariffs on cars i

yvonne: bloomberg daybreak: europe coming up next.♪ g. ♪ emily: i am emily chang in san francisco and this is "bloomberg technology. qualcomm strikes back. after licensing fees, the chipmaker when the battle in court to ban the sale of some iphones in china. plus, it turns out uber and lyft filed to go public last week. just who will win the race to the public market? disrupting the beauty

daybreak asia ." now first word news. jessica: theresa may is going to europeuesday after bowing to her critics and postponing a crucial vote in parliament. she will talk with angela merkel in berlin after meeting the dutch prime minister, faced with almost certain defeat of her deal, she says she will seek assurances from the eu leaders. but she gave no indication of what that means. >> notwithstanding that fact, for as long as we failed to agree, the risk of an accidental no deal increases, so the worknment will step up its in preparation for that potential outcome. and the cabinet will hold further discussions this week. >> this deal is the best and only deal possible. we will not renegotiate. our position has not changed. and we are concerned for the united kingdom leaving the european union on the 29th of march, 2019. jessica: oil sliding to its worst loss in two weeks on doubts whether opec and allies can deliver supply curbs. they fell 3% in new york, erasing gains from the past week between saudi arabia and russia to reduce supplies. the of the group ha

daybreak." we have ppi coming out. it is a risk-on day. a weaker dollar and equity rally in europe is spreading to the u.s.rket selloff. a weaker dollar as well. that 2/10 spread in the u.k. a little bit steeper. got hit hard on the brexit news. now.right ppi, if you back out food, you back out energy, that is coming in and 0.3%. that is a move. that is definitely a move. david: better than projected. year basis, up sequentially, and beating estimates. inal demand coming in paying line with estimates at 2.5%. cpi tomorrow, what we learn about margins. oil prices are down, so many the margin story is not going to be in the forefront. this is a solid pbi -- ppi. number,s i look at this i think maybe it is just costing more money to get things. or it is actually growth. mona: you know what? tariff impact.he a lot of what we are seeing is, earlier on, we saw a lot of people pull forward a lot of their orders to avoid the tariffs. what we are seeing the tariffs come into play. this could impact producer prices. it will be interesting to see how consumer prices react tomorrow. we have the offset from the oil and

. ♪ ♪ is "bloomberg daybreak," risk off mode in the markets, started in china, weaker retail sales data, spreading to europe french output slowing below contraction level, also weakness in germany. risk off be a. the dax down by a 10th of 1%. -- risk off feel. stronger dollar to safety story. 1.12 euro print. we had an ok bond auction. lowest since 2008, 30 year yesterday, revival of budget deficits for november. $204 billion. big number. copper, china growth story. watch that market sentiment. crude off 7/10 of 1%. oil remains deep bear. concerns over supply and demand. yesterday i had the privilege of speaking to andy hall. bearish versus bullish? he is leaning more bullish on crude. god innown as the oil the commodity world. andy: that is one element of the supply demand story. opec cut by 1.2 million barrels a day. you have other things going on as well. headwindsative side, regarding demand, worries with the threat of trade wars, how robust is emerging market country demand? stronger dollar is generally not constructive for oil demand commodity demand and general. on the other hand, not only have you h

daybreak. japanese technology company nec has agreed to pay $1.2 billion for denmark's kmb. the japanese company is looking to expand services in europet years transforming into a technology services consultant. china's industrial profits declining for the first time in almost three years. the november reading fell 1.8% from a year ago, in contrast to a 3.6% rise in october. november factory prices grew at the slowest pace in more than two years. robert mercer and his family spending just $2.9 million influencing federal elections this year, less than a third of what the hedge fund tycoon donated to republicans during the 2016 reap -- 2016 presidential election. the decline in spending suggests his importance in conservative politics may be waning. that is your bloomberg business flash. the: in the tech sector -- tech sector participated in the rally yesterday. amazon, netflix, twitter and facebook all gaining more than 4%. still with me is sarah hunt of alpine woods. this is one of my favorite charts. it is tech versus utilities. the white line is where we are now and the blue line is the tech bubble. we are tracking it on an almost

europe where production has been affected because of emission standards. shery: thank you so much. sophie kamaruddin joining the conversation as well. plenty more to come on "daybreaks "daybreak: asia." let's get a quick check of the latest flash headlines. becoming the first security firm to get approval to take control of a local joint venture. buy aiss banks one to third to take its interest to 51%. it underlines a long-term commitment to china. also seeking control of joint ventures. shery: the white house says china would consider approving the bid if it is presented again. it is part of a wider agreement struck by president xi jinping and president trump. almost a two-year wait for approval. later expressing regret over the collapse. standard chartered is said to be cutting jobs in dubai. sources say as many as 100 positions could be involved in dubai alone. bill winters just launched a campaign to reignite growth, theuding plans to simplify structure and free up liquidity. macron tells abe he wants to save the alliance. this is bloomberg. ♪ paul: 8:30 in hong kong, an hour from trading there. i am paul allen. shery: i am shery ahn. let's get to first word ne