. >>> halliburton sees more cost cuts coming. the oil field services company is t looking combat slow demand from its north american shale drilling whi helped cause a decline in expected revenue. halliburton d d match the earnings estimates. it rose to 61$1 cody is exploring options and possibly selling its beay products brand such as clarol, a wend lpi in an effort to pay down debt. severa we part of the beauty unit earlier in the year. shares of cody rose about 13.5% $11.48. shares of alexeon rose today after the fda approved the coany's altamira drug. the new n approval will help trn pa with abnormal blood clhs in their kidney blood vessels. the shares rose t .$1 >>> microsoft and humana will be teaming up in a multi-year deal. microsoft will sve as humana's preferred cloud provider and ill provide artificial intelligence to the health insurer to help improve care options for the memberof micr shares were up a fraction to $138.43. humana shares were down ao fraction $287.15. >>> after the bl t.d. ameritrade reported better tha

halliburton helping out the energy sector. the earnings report good enough.ally, let's take a quick look at boeing. over the last two days, at the lows, down 12%. on pace for its worst two days since 2008 around further revelations around the 737 max and the risk ahead of those two tragic fatal crashes last year. investors clearly selling the shares on those revelations. still 14 buy ratings on boeing. numbers are out wednesday, and testimony the following week from the ceo. deutsche bank is considering job cuts of at least 10% to the unit that trades interest rate that hass, a division survived thus far the large-scale pullback as part of the revamp announced in july. let's bring in steve ehrens. bigger?at 10% be even like it should be at least 10%. they haven't confirmed this yet, but it could be potentially more. it shouldn't be much more, but 10% is the minimum under consideration. romaine: i'm a little curious as to why they are targeting this specific unit. the rates unit, i guess by most measures, doesn't necessarily always have to be profitable. what

our stock of the hour, halliburton, coming up.eak with the head of public policy over at pimco. for romaine and myself, have a great afternoon. this is bloomberg. ♪ david: from bloomberg 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. on the brief today, emma chandra from london on the latest attempts to get a brexit deal. from the white house, kevin cirilli on president trump challenging week, and from ottawa, a reporter on canada's election day. prime minister johnson try to get a vote, did not get it, what happened today? emma: he did not get the vote again today. the speaker of the house of commons denying the prime minister a vote again on his brexit deal. he said mp's would not vote on the brexit deal this evening, citing conventions dating back to 1604. a historical tidbit, especially for you. he said mp's had already debated and discussed the same thing on saturday. there would be no meaningful

halliburton for instance is one, david, that didn't have a great number.tock of the day in terms of biggest mover, petmed. revenues dune year-over-year. they did beat on earnings, 53% of the stock was short. up 31% at one point. i want to say here, maybe wall street is so pessimistic that they're creating opportunities even nor names that don't necessarily knock the cover off the ball? >> yeah. i mean the almost a perfect setup for low expectations this is an example where we have two things, strong consumer. look at retail names consumers are regularly. i will take stocks higher. headline confidence. if you remember last year at this time, there was all issues with the fed. interest rates rise substantially. it spooked markets. so if the consumer stays strong, i think it will, we don't have the headline malaise, i think we'll see all-time highs through the end of the year. charles: right. >> given numbers will be much better than most analysts thought. charles: could we be in a situation where wall street is so pessimistic, lower earnings, the stock is up

these are the baker hughes of the world and, of course, the halliburtons.and as we look at the dow jones industrials, up 31 points at the moment, we do have green on the screen. it's been back and forth toggling for the s&p and, of course, the the nasdaq as well. all right. let's listen in to president trump. >> at the white house not a long time ago, and they came in, and they are a great group of people. so you have great sports place, great sport up to. but i'm here with the incredible people who fuel our factories, light up our homes, power our industries and fill our hearts with true american pride. that's you. and, by the way, you guys, sit down. [laughter] [applause] thank you. sit down. we'll be here for a little while. i like energy people. [laughter] energy people have a lot of energy, unlike some people i deal with. [laughter] they've got a lot of energy. in more ways than one. nobody does it better than the hard working men and women of marcellus shale country. [cheers and applause] 'em wouldn't it be -- wouldn't it be great if new york realized

we will get halliburton earnings monday. you can find this chart on the bloomberg at gtv .r is one of the better performers in the s&p. guy, what you have? guy: i want to talk about the chinese growth numbers. this was a point made earlier and worth dwelling upon. we are obsessed with these kinds of lines in the sand when it comes to the chinese economy. 6%, 7%, 16%. in the yellow line, we have the chinese official gdp growth. interesting here is you have to think about the mathematics of percentages. are theom bar charts size of the chinese economy. it has been growing significantly over the last few years, steadily since 2008. that number has accelerated. in terms of its valuation, in terms of the size of the chinese economy, 24 trillion is thou the number we are looking at -- is now the number we are looking at in terms of the size. his 6% of four a bigger number than 60% of five? we have been concerned about the slow down we are seeing in the chinese economy. it is worth reflecting that the perimeter of chinese growth has continued to expand, as a result of which, the p

halliburton reports early monday morning. we call this one hal, and i'm not a huge fan of the fos ill fuel soctocks, but i recognize that halliburton is a well-run company. hal's biggest competitor is slb. even though its stock has been in the dog house, on this great quarter what happened? it only rallied a little more than 1%. that's hardly any lift and slob, as we call it a wall street has a 6% yield. that's not encouraging i'm going to listen in on ameritrade maybe we'll get a sense of what this new era of zero commissions means. i want to know what their other revenue streams look like. ameritrade has become among the riskier brokerage stocks out there because they're more dependent on commissions let's see what they have to say. the stock has come down so much that some say it's a bargain if i were a ceo, never in a million years would i bother to report on tuesday the 22nd, because there's no time to stop, look and listen to these companies that strut their stuff. i can't even touch all the important ones here. this is

because halliburton $40000.00 a year is a restaurant manager who didn't qualify for government assistance. nicole believes alex started rationing as insulin because he couldn't pay for it. this made him susceptible to d.k.a. or diabetic ketoacidosis a dangerous side effect of type one diabetes when the body doesn't get enough insulin. it starts shutting down your bowels which would why has stomach was hurting so bad and then it will work your way up your intestinal system and your intestines start shutting down. and your kidneys start shutting down and and then you're along start shutting down. and then your heart starts to go. and as the heart starts to go. you typically go into cardiac arrest. or you go into a coma. you start having seizures. and it's and it's true greenly painful way to try. ella came off of my insurance on june 1st of 2017 and was found out engine 27th of 2017. so he lasted 26 days i'm sure. he's handsome could. turn smile and kind of look a little bit alike naser. hydrophones because. nicole and her family learned that alec in stretching out what little insulin he ha

halliburton decided to cut like 9% of the u.s. work force.aterpillar stuck in a trading range all year in terms of upside, we haven't seen it. >> do we buy, sell or hold cat >> sell it >> sell it dump it? gone >>ly say this, for this price, there is no reason to belong on this stock you get another drop down, you could trade it i'd be a seller here, not a buyer. >> like the straight talk. thank you, brian >>> coming up, if it wasn't enough, two more stocks you need to watch as they feel the pain of the president's continued trade war. plus, you got an extra $112,000 lying around you got to hear about this one stick around what i love most about being a scientist at 3m is that i'm part of a community of problem solvers. we make ideas grow. from an everyday solution... to one that can take on a bigger challenge. from packaging tape... to tape that can bond materials to buildings... and planes. one idea can unlock a breadth of solutions. at 3m, we are solving problems that improve lives. man: can i find an investment firm that has a truly long-t

. >>> halliburton at 34 cents. revenue was short.onths back to moalst 20 bucks. i see an unbelievable opportunity. i see best-in-class platforms and education. i see award-winning service, and a trade desk full of experts, available to answer your toughest questions. and i see it with zero commissions on online trades. i like what you're seeing. it's beautiful, isn't it? yeah. td ameritrade now offers zero commissions on online trades. ♪ for farmers here, this is our life's work. but when a recall happens, perfectly good food goes to waste. now, we've got away around that. looks good. we're on target. blockchain on the ibm cloud helps pinpoint a problem anywhere from farm to shelf. it's used by some of the biggest retailers everywhere. a nice wedge. so more food ends up on your table, is that daddy's lettuce? yeah. and less food goes to waste. ♪ ♪ >>> let's get to jim and trading. >> morgan stanley note about advance micro. good quarter taking share of intel and saying that maybe they have the remarkable position of being able to hav

the next company is halliburton. brooke has the details.cutting about 650 jobs in the u.s. rockies. wyoming. north dakota, this is how halliburton plans to turn its american workforce as oil prices continue to slump. companies diabetic spending as investors push for more dividends and buybacks. this is the ramification. this comes at a fragile time for the macro economic backdrop. week factory numbers, job losses there, when you throw in the oil services number it does make me more concerned about the industrial production weakness start to suffer -- alix: thanks a lot. the third story is delta. that stopped down. the company issuing a fourth-quarter guidance that missed estimates. one highlight was the 2020 non-fuel cost may be a fool percentage but -- may be a full percentage point higher. i spoke earlier to the company ceo. >> we are always competitive, but we can keep more on quality and reliability, not exclusively on price. the shares tend to stay with delta as we pull it in. alix: the fourth company is pg&e. the stock getting totally

halliburton out with a solid earnings report this morning. growing its international market. that has to hire -- peers higher. getting an upgrade at citigroup on an attractive valuation. romaine: thank you. let's turn to the u.k., another blow to prime minister johnson's exit plan. john bercow has rejected the government plan or a second vote, saying members of parliament have already debated and voted on the plan. here with the latest is emma chandra from westminster. him tonot really expect move forward with this vote today necessarily, but it did appear boris johnson was counting on this to further his cause. right.ou're absolutely we had been expecting -- the government had wanted another meaningful vote on his brexit deal today. that was denied by the speaker of the house of commons, german or co, saying it was essentially the same question that mps were asked on saturday. he cited convention going back just a little historical analysis for you. we will not have that vote tonight. it now means attention moves to the withdrawal agreement bill. this is a massive piece of l

if you look at the energy laggards like halliburton, cabot, national oil well, all week as well here.hcare energy laggards up there. they're all weak here. the retail laggards, targets, had a good year, walmart had a good year. a lot of damage here with macy's, gap, nordstrom, kohl's, wide dispersions between the winners and losers one thing, i'm not sure there will be a selling of the winners. if you look at gap, the s&p at the close on friday up 20% this is friday's close the average large cap core fund active management fund was up 19%. my thanks to cfra for pulling this out these are the guys importantly who do the active management that's a pretty close difference that 1% difference, that's the fees that they're charging so active management has not had a bad year this year i'm not sure we'll do a lot of window dressing, let's catch up because we have been lacking behind story on ameritrade, david just mentioned this, market cap, ameritrade, $18 billion right now. not helping with that announcement that they're going to zero commissions. i expect e-trade to come back very soon, a

the the company outlining some of its plans, that has sent h l halliburton shares up.leading all higher on the day. as you can seedespite the fact oil prices are lower we want to put some context around some of these big names we're seeing if you take a look at a foo five-year chart, it's lost about a third of its value even worse for some of the oil field services name. so big pop today wilfred, courtney, but at the same time, the down trend over the medium to longer term is very still solidly in place, guys back over to you >> dom, thanks very much we've got just under five minutes left to trade. we're up 0.7% on the s&p 500 pretty much near session highs, in fact. news just breaking on our air a few minutes ago from our david faber. softbank will take control of wework ji via an injection of significant new capital according to sources the deal could be announced as soon as tomorrow david is working on that story we'll have more in just a few minutes. a roller coaster ride for that company of late. the implied valuation, david told us, was $7 to $8 billion for the c

that's why the all surface docks have been awful perform, and halliburton reported a not hideous numbert as bad as. why did dover make that call, in part because third point, the huge activist hedge fund took a position in the company and started to push forward. i think low laid much of the ground work for the turn around. bailed on the stuff a year ago into the market wide melt down in april of last year, dover's long time ceo stepped down, brought in richard tovin, a major british manufacturer to replace them and rolled out a huge restructure program, a right sizing plan to bolster dover's margins, improve operations and build a foundation for future growth, basically cut costs and narrow the focus, which includes jet tissi lot of businesses, and replaced by cheaper alternative, as well as businesses that can give them recurring revenue growth, and then the sky is delivered. dover had strong quarter this year big cost cuts, better management of the two core businesses, engineering systems and once we started worrying about a worldwide slow down, things seemed to get a little dicey, w

they're up 4% today on the heels of halliburton earnings that's helping the sector over the course of the last five years this particular etf that tracks oil services has lost three-quarters of its value so a very tough road ahead for some of the oil bulls especially when it comes to services and you mentioned peloton, a slew of analysts covered starting today, generally speaking, it's all overweight, buy, you name it that stock went from being up almost 4% today to now down 4%, a big swing. this stock went public at $29 per share, open below $28 and it's been a down trend since then so a lot of the analyst commentary, kelly, about the total addressable market and the growth we'll see if that sticks for peloton. back to you. >> we'll talk more about that, dom, thanks. i'm kelly evans and we begin with the corporate story dominating headlines catching wall street's attention now in a way it hasn't before is the drama at boeing. the stock hitting a two-month low and is on pace for its worst month, down about 13% this month. this after the reveal of explosive messages last week showing p

because halliburton $40000.00 a year as a restaurant manager he didn't qualify for government assistance. nicole believes alex started rationing his insulin because he couldn't pay for it were this made him susceptible to d.k.a. or diabetic ketoacidosis a dangerous side effect the type one diabetes when the body doesn't get enough insulin. it starts shutting down your bowels which would why has stomach was hurting so bad and then it'll work your way up your intestinal system and your intestines start shutting down. and your kidneys start shutting down and and then you're along start shutting down. and then your heart starts to go. and as the heart starts to go. you typically go into cardiac arrest. or you go into a coma. use or having seizures. and it's an extremely painful way to. elevate him off of my insurance on june 1st of 2017. and was found out engine 27th of 2017. he lasted 26 days i'm sure. he's handsome could. turn smiled. like a user. hydrophones for guns. in the corner family learned that alec had been stretching out what little insulin he had left until his next paycheck. he

halliburton posting quarterly earnings revenue did fall short as it was hurt by the slowdown in northlly we should tell you this morning bridgewater's flagship fund lost 2.3% in the first nine months of the year this according to the financial times. ray dalio's firm wasn't able to recover the losses it suffered back in august from low government bond yields. >>> right now let's get to some political news reversing -- president trump reversing his decision to hold next year's g-7 summit at his resort in doral. >> talk about spending the weekend reversing himself on a couple of fronts that decision by the president propos proposed the g-7 be held at doral. republicans on the hill said they couldn't defend this decision here's the tweet in which the president ultimately revealed he was backing off. he said, therefore, based on both media and democrat crazed and irrational hostility, we will no longer consider trump national doral miami as the host side for the g-7 in 2020 we will begin the search for another site including the possibility of camp david. thank you. i can tell you there w

alix: halliburton coming out with earnings this morning. north american revenue was down 11%. that was ugly. what do we see with the chart? bill: revenue did miss the lowest estimates. the stock is knotting the trading range. atdid have the first support 117, 118. if you go back five years, clear long-term downtrend dating back to 2018. 117 is your floor, still downtrend below 20. alix: great stuff. till maloney, great to chat with you. that wraps it up here. open," mohamedhe el-erian will be joining jonathan ferro. in the markets, looking in equity futures pushing higher, up .4%. you could see a rolloff with the tariffs in december. they may not be put on. the recent headline helping push equities over 3000. in other asset classes you are looking at higher yields and a steeper curve and a weaker dollar. the cable rate flirting with the 130 level. can we break about that. we will see when parliament opens at 9:30 a.m. eastern time. that is your market check. this is bloomberg. ♪ jonathan: from new york city for our audience worldwide. i'm j

we get halliburton monday.es not feel like a good read through from north america, but we will see. much more much more on earnings. we are moments away from american express. we will talk about northern ireland. much more, coming up. this is bloomberg. ♪ much more, coming up. this is bloomberg. ♪ alix: this is "bloomberg daybreak." it has been a very intense week with lots of new slow. not a lot of movement pre-much anywhere. s&p futures right around the 3000 level. one area in europe getting hit is the auto market, down by over 1%. a lot of that is were no coming in with this up -- is renault coming in with disappointing numbers. the cable rate down by just 0.1%. steeper, 15,little 16 basis points. we are no longer inverted. we have to remember that. what does a steeper curve wind up meaning? earnings keep trickling out. take a look at what is happening with american express. earnings on adjusted basis better than estimated, $2.08. revenue coming in at $11 billion. a good read through on the consumer. david k

as we go to break, here's a check of halliburton cutting 250 jobs with the weak prices. we'll be right back. and you should be mad at simple things that are unnecessarily complicated. but you're not mad, because you're trading with e*trade, which isn't complicated. their app makes trading quick and simple so you can strike when the time is right. don't get mad, get e*trade and start trading today. is that pgim, we see alpha emerging in the trendsete? driving specific sectors of outperformance. where a rising middle class powers a booming auto industry... a leap into the digital era draws youthful populations to mobile banking and e-commerce... trade and travel surge between emerging markets. every day, our 1,100 investment professionals around the world search out opportunities for alpha. partner with pgim, the global investment management businesses of prudential. >>> welcome back 19 minutes left in trade 250 points on the dow. healthy returns, 1.2% for the s&p. 1.3 for the nasdaq all secretators on the s&p highr technology leads the charge. >>> we've got about 19 minut

have you looked at schlumberger and halliburton, have you looked at what chevron and exxon are givent says, given the macro backdrop you want to be exposed right there. if you want to see another dip lower in global data, crude oil will be leading the way. >> energy is one of the worst-performing sectors of the day. let's turn now to general electric and the company's plans freeze to freeze pensions for 20,000 workers >> ge will freeze pensions for 20,000 u.s. workers and offer pension buyouts to 100,000 former employees the plan does not affect retirees already receiving pension payments the goal here is to further derisk the company's balance sheet and shore up capital as the ceo tries to restructure the company. ge says this plan will cut its pension deficit by up to $8 billion. bank of america analysts believe it should be accretive to earnings, although the stock is unchanged right now, it also comes as a number of companies offer pensions continues to decline as more switch to 401(k)s, as they are seen as a more cost effect iive option for employers. guys, back to you. >> seema

halliburton reporting this morning among other big names later this week, amazon, tesla, boeing.haracterize the beginning of the third quarter earnings reporting season? >> fact diss se set is looking 3 or 4% year over year decline. we think the number may be positive. companies have set the bar low and i think they're going to end up beating again once we get the earnings season completed. maria: are you expecting a pick-up in the fourth quarter and into 2020 in materials of earnings growth? >> exactly. you have tough comparisons in 2018 versus 2019. we're going to start to anniversary them once we get through the 24eur third quarter. they'll get easier in the fourth quarter and substantially easier in 2020. i think the earnings picture in the u.s. is going to be reasonably good shape. that will help to drive shares higher over the balance of this year and through calendar 2020. maria: all right. we'll be watching. phil, great to get your insights. thank you, sir. hong kong unrest continuing, protests stretch on despite calls for calm. beijing said adam silver will face retribut