with me is tom stevenson, an investment director from fidelity international. sales of pink spotted ties may peak after your appearance! this morning, the practical reality now off, no matter what is agreed at political level, a reminder that practical measures need to be implemented and those take time. this is a report by the national audit office which quite sees the government because it makes it clear that a no—deal outcome would be extremely damaging. they have been making the point that we do need to get a deal. what it focuses on is two things. the issues for traders. complete lack of certainty for businesses about what the customs declarations will mean, for example. and then the security issue. and an irony here because brexit was supposed to be about taking control of our borders but it is risking control of our borders at least in the short—term. is risking control of our borders at least in the short-term. the impact for business is they do not like uncertainty and this is incredibly uncertainty and this is incredibly uncertain when they are playin

with me is tom stevenson, an investment director from fidelity international.

with me is tom stevenson from the investment firm, fidelity international., it seems at this point now that the practical realities of a possible no deal brexit are really being set out in much more detail than we have had before. yeah, absolutely. this is the thai hitting the road, if you like. time is running out, we are now five months away and people are really beginning to look closely at what would actually mean on day one, when the rules do not apply, the old rules do not apply and the new rules possibly not apply and the new rules possibly not in place. and that is the, that is the difficult bit for businesses planning because you set up your systems for a certain way of doing business and suddenly that stops, no one quite knows what is going to replace it. and it is a phrase that we use time and time again but the business world is not like uncertainty, and the warning that is coming from the uk's audit office seems to be that there is a great deal of uncertainty about whether these border systems, with vast majority of them and the changes required

tom stevenson, fidelity international investment directorjoins me now. nice to see you. investors will be keeping a close eye on that midday deadline today. yes, and investors have been pretty nervous about what has been going on in italy for good reason. as sally mentioned before, it has that feel of greece about it. and it's a much bigger economy as well. the third biggest economy in europe, and it has loads of bonds outstanding, a heavily indebted country, so it really does matter. i think the key development was the downgrade, tojust think the key development was the downgrade, to just above junk, think the key development was the downgrade, tojust abovejunk, the market taking it pretty well with bond prices rising and bond yields falling a vital bit. that was good for the stock market because italian banks on loads of government bonds saw the rise in price helped their profits. in china, market is doing well in shanghai today, but it is so volatile right now. why today's positivity? is it to do with the chinese government saying they will help out? it's all about th

joining us is maike currie, investment director at fidelity international. nice to see you.ng about the issues for financial markets, you are issues for financial markets, you a re interested issues for financial markets, you are interested in what the oil price is doing. the oil price is now looking as though it could hit triple digit figure, it is around $80 a barrel. if we have seen growth go $80 a barrel. if we have seen growth 9° up $80 a barrel. if we have seen growth go up in the uk but the flip side of thatis go up in the uk but the flip side of that is higher prices at the petrol pumps weighing on consumers. yeah, and that of course will filter into things like inflation, we get the uk inflation figure today, expecting about 2.5, 2.6%, so down slightly but we know that is pretty volatile. that affects how much money we have in our pocket. so when hiring oil price will feed through to inflation, it is only more than price rises, and it has been long overdue, we have unemployment at its lowest since 1975 but wage growth has been stagnant. why is that? it isa has been

joining us now is sonja laud, head of equity at fidelity international. nice to see you. in grab. we are seeing different patterns emerge around the world but he was dominant in which market and particularly how it is doing in asia. it is not their first engagement in a right hailing app. they have cloud systems such as azure and it is more about their softwa re azure and it is more about their software and development. there is facial recognition, a lot of development around the safety concerns, a real—life testing ground for the software. one viewer in india says write apps are easy solutions for commuters, why ignore convenience when it is just a click away. —— ride apps. for many consumers it is so convenient? yes, iama consumers it is so convenient? yes, i am a heavy user and very much like the flexibility, it is a lot cheaper and has created quite a fewjobs. despite all the aggravation companies like uber have had with various cities fighting against them legally, they are here to stay, we wa nt legally, they are here to stay, we want them? i am sure there will be m

developed country stocks or emerging countries stocks or bonds or commodities or real estate the fidelity international for example has offices and twenty two countries outside of the united states the vanguard group has offices in one thousand countries outside of the united states you can take the book muscular but follows to them and say i want to invest this way you tell me which are the lowest cost funds in my country and they'll have to tell you and you know we see all these advertisements on television not here because we're not pushed by any of those folks but that talk about you know for ninety nine trade successor how do investors keep costs low when they're looking to put their money to good use brian. it's very important to use a bargain brokerage firm you can get trades for four dollars each way or even zero from some brokerage firms that are offering commission free index funds so keeping those costs low is the way that you make your financial savings grow brian thank you so much very helpful we wish you luck with muscular portfolios brian livingston everybody thank you so much brian. nic

find out why fidelity international expects one more drop. this is bloomberg. ♪ shery: this is "bloomberg daybreak: asia." haidi: emerging markets have also had a rough time of it lately. fidelity says things could get worse before they get better. in terms of what we saw overnight, it doesn't give a great deal of confidence that the u.s. will continue to be the driver of market growth around the world. let's start off with the news .hat the day someone say this is a correction that has been a long time coming. >> absolutely. ,f you look at what's happening there is a complete dichotomy in performance. developing markets led by the u.s. have had a massive run and when you look at valuations especially, there is a big divide. what we have been seeing overnight is a natural correction and it's likely to continue, but at the same time, there is a lot of sentiment back in the market and we expect the volatility to weigh on investors and how they are thinking of equities. are we talking about markets like the yes compared to the likes of china? th

rates on valuations and stocks things he's watching we'll finish it off with a fidelity portfolio manager, focusing on international emerging market stocks he's looking for these things, how fast is china decelerating in terms of its economy? will the government response be big? will rising u.s. dollars and rates lead to emerging markets contagion elsewhere besides argentina and turkey those emerging markets, are there companies that are executing better in this environment from a fundamental manager standpoint those are the types of stocks internationally he would want to be invested in. >> thank you very much let's bring in jim cramer, welcome back appreciate seeing you two days in a row i was going to -- let me begin with this. there are an awful a lot of investors who have not been through a rising interest rate environment. certainly not in the last decade. >> that's true. >> talk us through that as they applaud your arrival in the background something's going on mere. >> i think that rates, i agree with jay powell, that we should have another rate hike this year you want to get the rates up typically what hap

fidelity. open an account today. you'll only pay $4.95. ignition sequence starts. 10... 9... guidance is internal.. 5... 4... 3... 2... 1... ♪ a new way to save on travel. now when you book a flight you unlock discounts on select hotels that you can add on to your trip up until the day you leave. add on advantage. only when you book with expedia. >>> welcome back to the half time report. we've been looking back at the traders' most memorable calls from last quarter. today jim and josh are up. >> i do think you can buy the shares here. another 15% from here possibly by year end. >> you've got the fundamental story matching this big technical breakout and it's a decade in the making >> farmer jim. qualcomm is up the 21% since the end of july. >> it's been a great story it was terribly unloved then it had the nxpi acquisition nix bid china but then they announced buying back shares they're halfway through a buyback that will decrease their share count by 30% in the course of a year. that's huge. i never saw a buyback where a company stays public of that size the other thing is at some point i expect

fidelity. ignition sequence starts. 10... 9... guidance is internal 6... 5... 4... 3... 2... 1... ♪ most kids today will have jobs that don't exist yet. the engine management systems coordinate with autonomous vehicles. financial data, so now we can predict the future. our new flexible propeller design. by collaborating with public schools on a program called p-tech, ibm is helping students build the skills they'll need for tomorrow. revolutionizing. aerospace industry. it's an entirely sustainable approach. any questions? when you rethink education, everyone can put smart to work. maria: welcome back, good monday morning, i'm maria bartiromo, it is monday october 15th, your top stories right now 6:34 a.m. on the east coast. futures showing markets will trade lower at start of trading this morning, dow industrials down 110 points, tensions are rising between the trump administration and saudi arabia over the suspected killing of a saudi journalist. fox news has confirmed that blackrock ceo larry has pulled out of saudi arabia's upcoming investment con

fidelity. we have a long history of innovation and putting resources against new technology. we started doing things like bitcoin in 2015 and ran internalllowing some of our employees to use bitcoin to buy things in the cafeteria. all the while, doing basic research into the technology and doing a few in a fit of things that we are applying to the -- doing a few innovative things that we are applying to the solution. erik: can they do it as quietly as they did because it's private? >> the company has a strong history of innovation but it's also private. older so in the early 1990's when fidelity was one of the first institutions to have an online trading experience which was delivered to clients in the form of a 3.5 inch floppy disk so these things were revolutionary and don't mean much now. it's indicative of the history of company has in this space. how many bitcoins has fidelity mind? >> i honestly don't know the answer to that? erik: hundreds, thousands? >> maybe a couple of hundred. that was a great learning experience. erik: where does it go from here? in other words, what do you expect to happen now that you have this business th

fidelity. open an account today. you'll only pay $4.95. ignition sequence starts. 10... 9... guidance is internal 1... ♪ kevin, meet yourkeviner. kevin kevin kevin kevin kevin kevin kevin kevin kevin trusted advice for life. kevin, how's your mom? life well planned. see what a raymond james financial advisor can do for you. >> they say now may not be the time for rotation. >> it remains to be seen i can understand why a lot of managers want to see this happen that's big performance spread here this is the growth index in the white and this is a proxy for pure value stocks. they are the cheapest. it is called the invesco it is a 40 percentage point spread this was one of the biggest shifts in style. you had banks and all of the rest open up why might th might not be happening right now again is where we are in the cycle. if you look at what is inside this value index it is 25% financials which have not been able to get out of their own way. you own basically all of the auto stocks, all of the old media stocks, aulg of tll of thy very old technology stocks essentially all of those things are kind o

fidelity. open an account today. ♪ open an account today. ♪ ♪ ♪ ♪ comfort. what we deliver by delivering. ignition sequence starts. 10... 9... guidance is internalback now with "end game." i spen traveling across the country ace battle we traveled to phoenix where arizon getting used to their new reality as a swing state. they don't like it right now. then to las vegas where you s the culinary union is hoping latino can help flip ana u.s. seat there. tampa, environment cross the politica vide andla to dwhere republicans may be the swing vote. here's just some of what i heard from v four states >> i know that the supreme court nomina process was something that impacted my decision making >> education is important thing for noto focus on. >> you have fake news. becaus there is a lot of people that -- they don't cover the things have to be covered. >> wages don't increase along with the cost of living. >> i would say clean up the enviro take care of this red tide. fisher andit'sestroying my hobby and life long pursuit. >> you beente on the war -- >> my whole life. >> you've never seen a red tide like this? >> not like this. >> you've always been po

fidelity. open an account today. ♪ open an account today. ♪ ♪ ♪ ♪ comfort. what we deliver by delivering. ignition sequence starts. 10... 9... guidance is internalfour years ago, we rejected marshall tuck and his billionaire backers for superintendent of public instruction. but they're back. the corporate billionaires and their handpicked candidate, former wall street banker marshall tuck. tuck's billionaires have spent over $25 million distorting tony thurmond's outstanding record on education. all because they know tuck shares their agenda: diverting funds from our public schools into their corporate charter schools. the same agenda as trump and betsy devos. protect our public schools. say no, again, to marshall tuck. >>> back now with "end game." i spen traveling across the country ace battle sunbelt. we traveled to phoenix where arizon getting used to their new reality as a swing state. they don't like it right now. then to las vegas where you see the culinary union is hoping latino can help flip a u.s. senate seat there. tampa, environment cross the politica vide and to dallas where republicans may be the swing vote. here's just some of wha

internal. 6... 5... 4... 3... 2... 1... ♪ you can do it. we can do this. at fidelitysaving for the things you want to do today. -whoo! - mwith the best ofodi, thes prespressure cooking andsps, air frying all in one. with our tendercrisp technology, you can quickly cook food, juicy on the inside and crispy on the outside. go from fresh to deliciously done in half the time. which means it may become the only thing you use in your kitchen. (tapping) for cooking, at least. (upbeat music) the ninja foodi, with tendercrisp, the cooking while parenting technology. warning, california. a handful of billionaires have spent over $70 million on campaigns to undermine our public schools. and electing a former wall street banker named marshall tuck to superintendent of public instruction is all a part of the billionaires' plan to take money away from neighborhood public schools and give it to their corporate charter schools. that's why tony thurmond is the only candidate endorsed by classroom teachers for superintendent of public instruction. because keeping our kids safe and impr