seeing, weack we're ituld make note of the fact little bit of strength here for the housing data.e're looking at solid gains. even last friday, not as big last friday.

housing data stoking anxiety that rising prices might drive on economic growth. on the other side, tesla accelerateswe new housing data g anxiety late trading after posting a profit. the model three is becoming one of america's best sellers. let's get you started with a quick check of the u.s. markets. we saw broad selling across the 2.4% and dow falling the s&p 500 down 3%. the nasdaq injured correction territory following 13% from its august high. it was a mixed bag of corporate ofnings and a lot of anxiety -- over if profit growth is peaking. you can see the volatility gained ground and the vix higher for a second session and above the 25 level. while the treasury rally continues for a second session and we saw yield fall to that 3.1 level while the dollar was also knew the highest this year. let's see how all this will translate into sentiment going into asia. sophie: anxiety is the word as we could be facing another risk obsession. when it comes to japanese futures, overnight, we did see contracts fa

retail sales and housing data coming out. minutes from the federal reserve coming up on wednesday. we get more bank earnings coming on monday. plus, the governor speaks here in york city with the brexit talks ongoing in brussels. and we get the official treasury currency report. will china be labeled a currency manipulator? that is one to discuss over the weekend. still with me, priya misra, matt toms, and iain stealey. final thoughts as we go through the weekend into next week. what are you looking for? priya: the move in the cmi is going to be pretty critical. are we going to get to the seven level? it is a psychological level that is going to trigger risk off. i think the market was happy to see all of the china data overnight, but it does not help the trade because the trade has reached a record. china will be important and i will look at the housing data. primary mortgage rates reached the highest level since 2011 but affordability is not that great. firststart seeing the signs of this impacting the housing market? jon:

retail sales and housing data coming out.utes from the federal reserve coming up during the week on wednesday. we have more bank earnings that will come to you on monday. plus the governor speaks in new york city. brexit talks ongoing in brussels. and we get the official treasury currency report. will china be labeled a currency manipulator? that is one to discuss of the weekend. still with me. some final thoughts as we go through the weekend into next week. what are you looking for? >> i think it is going to be pretty critical. stability around the six point nine level, we are going to get to that seven. it's a psychological level. i think the market was very happy to see it all the china data overnight. theknow, that does not help entire trade record. china would be imported and then i'm going to look at the housing data. mortgage rate reached the highest since 2011. affordability is not that great. we start seeing the first signs of this impacting housing. jonathan: interesting you mentioned china, we are going to get that

housing data has been weaker over the past few months. today's rise of .5% beat out the average estimate, so good news there. let's take a look at the major indexes here in the u.s.. green across the screen, something of a change in the discourse as we look at the week as a whole, and all the major indices in the green. tech is really leading the gains, which is why we are seeing the biggest move. the nasdaq, up over 2% at the moment. a little note of caution. i have another chart that shows you even with today's rally on the month, we are looking at quite a difficult october here. you can see the falls and all the major averages, down for october. what we are seeing are the major indices are on pace for their 2008, 2009,since and 2010 prospectively. so we will need to see a big rally to turn that around in the last two days of october. i also want to talk to you about some of the biggest movers today. we are seeing twitter, tesla, and microsoft, microsoft up almost 20%. 29= reported a percen urge in -- 29% surge in ad sales, even as twit

the weaker housing data is consistent with the housing data we have seen recently. the bulls are out on this. over the00 is now up last 12 days, this is one of those three times. the major averages are higher, there is a lot of uncertainty around the macro. we will be getting into that into a moment. -- in a moment. this is the week, lots of volatility where the bulls and today wetle it out, have a confidence. the point i would like to make, .8% for the s&p 500 and four weeks. lower wasweeks we had the longest losing streak since june. there has been a lot of turmoil around rising rates in trade warfare. the bulls are in charge. let's take a look at the technicals. whether a not those will step up, this is a one-year chart. this is how the buyers are in control. as the 10 yearty yield one above 10%, causing fears that this could slow the economy. we have volatility heading down. the buyers took over on strong economic data. more recently, rising rates of put those sellers and to some degree of control. the 10 day moving averages sloping down. that keeps the near-ter

housing data. you're thinking housing in the u.s. to deteriorate, maybe that says something about the strength of the u.s. economy in the face of rising rates. shery: garfield, will this be temporary for japan, because were seeing some positive corporate earnings, not to mention a weaker yen, despite the fact that it has been strengthening recently. garfield: the difficulty is that it is another set up where hoax has been fostered by a rebound, the nikkei had been alone almost across asia in breaking out of the down trend. if china was still down, korea was down, but japan had lifted above some of the highs earlier from the year and was heading for that january high. so you had some hope fostered their that japan was fixed, so to speak. now it's being slammed back down. the yen is on the cusp of potentially some serious gains which would unwind things. i think you're right to point out japan as a key area of concern. it helped to lead the rebound a couple of weeks ago. if it cannot recover, that's going to spread a lot of fear across

on wednesday, the fhsa services, pmi, the purchasing managers index and more housing data with new homes out. in earnings, at&t, ford, siriusxm radio, visa, ups reporting quarterly numbers, one of the most important dow components reports, that's boeing. that will be a market mover. microsoft reporting after the close kick off big tech as well. on thursday, durable goods orders are out, initial jobless claims and the beige book and pending home sales are out. more big earnings news then. alphabet, amazon will report earnings, they will likely move the economy and move markets. so watch those. american airlines, southwest, dunkin' donuts, chipotle, merck, comcast and snap reporting quarterly earnings as well. on friday, consumer sentiment and earnings from colgate round out the week, it will be a busy week. join me sunday on sunday morning futures, a big show on the fox news channel. house judiciary committee chairman bob goodlatte announced an interview with rod rosenstein, he's going to talk to us about that and republican senator lindsey graham, my special guest talking about the week

that is consistent not with the sentiment index yesterday but a lot of housing data we have seen recentlyonething to keep an eye consider that was the top of the market. finally, it of the fed minutes at 2:00 p.m., the bloomberg dollar index relatively strong. that is after two down days. it will be interesting to see what if any new cues will come out of the fed minutes. vonnie: thank you. investor's scouring how high officials may push rates before pausing. the minutes, as president trump doubles down on his criticism of the federal reserve. fixed income strategist to charles schwab joins us now. what is the biggest risk today in fed minutes? >> ella guess the town would be more hawkish than anticipated. we heard a hawkish tone coming out. various comments have been going around saying things like they may go beyond neutral or we are a long way from neutral. even more hawkish, i would think that could affect the bond market. vonnie: the president's, some the fed constantly, are they just noise? the categoryhem in of noise. i am sure it is not terribly well appreciated, getting public cr

housing data in terms of violations, so particularly in areas with high concentrations of rental housing, how that looks like in terms of habitability and housing code violations. you know, when you look at rent control data, so you know the buildings are valuable, have rent controlled tenants, and there's lots of housing violations, what does that mean in displacement and the risk to those neighborhoods. that's really important, too. i'm really glad we put this data together. it's a really smart analysis. i'm really looking forward to see what the next steps are for our city family because, you know hopefully this data is used and used well and often and regularly by folks doing investments in community development, in capacity building and organization. so for example, the mayor's office of housing development are coming to this body, wanting to have their policy approved, we would know where the development went. for example, i think it's really important that, you know, we know what we're doing and why through an equity lens, so i thank you so much. this is really great work, and i r

we usually do. , housing data going forward. down 6/10 of 1%. alan ruskin, global cohead of ethics. allen, we're going to start with you. let's talk to you. what does it say? alan: i see the real data. the little i have seen so far, the single-family. there was one piece of half decent news. we focused too much in the stocks. we had a hurricane passed to the carolinas. that being said, when you look at the big picture, it does not look great. it is remarkable. david: why is that? we hear how strong the economy is, unemployment. housing seems soft. alix: and autos. alan: the elements were a major giveaway for the corporate sector and supply-side of the economy. salt side of the things, the state and local tax deductions had a major impact on the hounding side. i would have said a year ago housing was in a nine inning game. -- baseball game. i am surprised. i think it is going to be a pickup again. wait for it six months time, maybe a year. alix: can we talk about a strong u.s. economy with housing and auto sales rolling over? alan: normally we ca

. -- housing data is showing a slowdown. behind this depressed sentiment? >> we saw weakness of home starts in september. the analysts came out and said a rough year for the homebuilders is about to get longer. look at the big homebuilders down across the board. a lot of analysts warning that the revenue projections are going to be hurt by the decline in the activity. we are seeing mortgage rates higher. pressure.ing a lot of mortgage applications are lower. we have talked a lot about how president trump has been pressuring the fed not to raise. this shows the fed rates versus the 30 year mortgage rate versus mortgage applications. the drop in the blue line is mortgage application rate. president be behind trump's concerns about interest rates and how that may reflect on his administration. >> still ahead, candidate gives cannabis the green light. >> up next, president trump insists tariffs have not harmed the u.s. economy. we will discuss the trade war. is bloomberg. ♪ you're watching daybreak australia. the u.s. treasury has refrained from naming china a

the most interest-rate-sensitive parts of the economy, the housing data has been extraordinarily bad through the course of 2018. we tracked the housing surprise index, which measures the high-frequency data, whether it is permits, starts, or existing home sales. all of those numbers through the last six months have been really surprising on the downside in a big way. it is not terribly surprising that homebuilders would see the effect of that. auto sales, if you look at light vehicle sales in the u.s., they have rolled over in the last few months. both of those things -- housing and autos are big parts of the u.s. economy. they are big parts of gdp. the fact that they are rolling ,ver shows that for housing because afford ability has gotten so challenging and mortgage rates have been increasing, it is not surprising to see those things show impacts and higher rates. caroline: another sector that has been beaten of his energy. oil having its worst day since july. what are you keeping? jason: very closely, slightly bullish on commodities in general. i think that has been the right view

to want to buy the homebuilders and why is the housing data not strong enough i ask them. housing is less affordable than yesterday and will not be more affordable. i'm not fully convinced these things will not get a bit of a bid, but universally, the sentiment was negative on them. gina,t: jonathan, and fantastic conversation and thank you much for joining us on this pivotal day in the market. we have breaking news. square's cfo is stepping down. accepted an offer to become the ceo of nextdoor. the shares are falling and after hours. also, square was already down 10% today alone. the 4.5% is on top of that. are still upshares about 100 to 3% on the year. this is a small dip considering 123% on the year. this is a small dip considering. scarlet: more to come. this is bloomberg. ♪ lisa: the market selloff coverage continues. u.s. stocks are falling the most since february. the nasdaq to climbing the most since june of 2016. the s&p 500 you can see there is closing below 2800 for the first time since april. seehe yield front, you can 10 year two-year yields ended the day lowe

seeing, weack we're ituld make note of the fact little bit of strength here for the housing data.e're looking at solid gains. even last friday, not as big last friday. it feels a little more solid. if we hopped into bloomberg, this is a full screen of the s&p 500 futures. gains despite being at the close. many are headed for a gain and time of three minutes ahead of the, finishing down rebounding overnight. but really took a look -- take a look at the gain over the last two days. perhaps the first weekly gain for the s&p 500 and four weeks. behind this like today, bank earnings. let's look at morgan stanley and goldman sachs. beatn stanley up 3%, they top and bottom line as did goldman sachs. the only be bank to beat on all three areas of the fixed income equities and investment banking, goldman sachs beat on the banking revenue. on the year, we have both banks the more than 14% despite fact that rates are rising, something to keep an eye on for the s&p 500. other earnings movers, a bit of a mixed with united help up more than 3%. domino's down 3%. they beat earnings and missed re

you can see how trade worsens after we got weaker than expected housing data in the u.s.. extending 7%. tech and communications doing well. look what is in the green. all of those defensive stocks. let's take a look at the individually biggest laggards today. , weighing oncebook the s&p 500. , facebook down over 2%. an interesting story as apple ceo tim cook is speaking today. he took aim at facebook for their use of data, likening it to surveillance. , texas instrument with the poor earnings earlier. route and semiconductor stocks this month is no one pays to be the worst and a decade. david. david: thank you so much. day for tech. a year-and-a-half ago it was one of the 19 federal agencies on the chopping block. now darrell issa is nominated to lead it. the new job directed day for te. follow the trade and development agency. elopment agency. >> this is balance of power. i'm david westin. we are turning out to mark crumpton for first word news. mark: as we have been reporting the secret service says they found -- the secret service found explosive devices in the box is i

a fresh round of earnings, fed minutes and weak housing data will weigh on the trading on the street. su keenan has more. a lot of factors but renewed focus on earnings. su: renewed focus on earnings and geopolitical tensions. in addition to the tensions, we have president trump talking tough against the saudi's, that is an added pressure on the market. looking at the snapshot with the dollar rising on friday, we had in strong,100 coming this was a sign of the tech rebound up 2.8%. weekg the wild ride last on an upbeat note here that is questions about this coming week. we have a big round of earnings from the banks, bank of america, goldman, morgan stanley and netflix. we will hear from ramy about the earnings from the banks friday, coming in positive. will there be a follow-up? positive news, particularly in the face of the test test tough lending environment. -- the tough lending environment. lockheed martin and raytheon have significant deals with the saudis in terms of construction and defense sales. these can be impacted by the geopolitical tensions i mentioned. ibm and paypal g

with helm you have the data on a server in your house. means the helm server has your data in your home. very the company know little about our customers so we do not have access to any data on the server. emily: is it encrypted? giri: yes. we have full disk gingrich and. only the user has access to the keys. emily: so you have been using the service for a while. what is the experience like an how does it differ than what else is out there? alexis: there was no alternative aside from having to install a server in your own home. there are plenty of hobbyists and hard-core techies that would go through the trouble of installing a server but it is a lot of work and upkeep. what was so appealing is that they had the vision three years that waske something so user-friendly i could hand it to my dad and he could set it up and know he was secure. emily: it is not cheap. $499 for the server and every year you pay -- >> $99 year after the first year. emily: so how can this protect you on a practical level if you still want to use facebook or gmail

remember all of those anti-bullying psa is that the obama white house data?emocrats are the worst bullies around. children don't listen as closely as i watch. so what would they take away for scenes like this? look at that, it doesn't even look -- it could be somewhere in the middle east during some terrorist event. and while the heat of this political moment will pass, if we really want to teach our children well, we all better get back to the basics. that means values like respect, decorum and a civil discourse. and that's the angle. joining me now is dan bongino, former secret service agent and author of the new book, spygate. also joining me as rochelle ritchie, former press secretary for the house democrats. what will the democratic response be if something horrific happens, for both congresswomen and senators who are either tacitly encouraging or actually encouraging with their words? >> you mentioned that someone might be killed, and someone already has been killed as a result of what's coming from the right, witches had their hair. their hypocrisy we

banks, these regional housing data slowed a little bit. housing stocks have fallen out of bed.t's an important part of the economy and banks overall. as you talked about earlier, the european banks of the troubled they are having. what group will outperform? -- not so sure that banks energy could be a better play in that area for the reasons i mentioned. david: ok. stay with us please. if you look at goldman, it's pretty interesting. which theypeed with have made changes before he took the helm the ceo. there was a lot of rotation with the management. david: nobody ever accused him of being slow. alix: he has to for markets. david: coming up, adobe goes on a buying spree. we go live to barcelona to talk to the ceo. this is bloomberg. ♪ alix: this is bloomberg daybreak. we are reversing the afternoon rally we saw yesterday. the dow is off by 140. a little bit of weakness in european equities. the italian bank index is getting hit, off by 1%. the finance minister said we are going to stick to our guns. it's unacceptable as it is. we will defend it. this is where it could be going

thelatest data showing --tember housing markets stocks were all lower. showing construction was weaker. and's go into the bloomberg take a look again. president trump has talked about how he's concerned about interest rate, he says the biggest threat is higher interest rates. the blue line's is mortgage applications. you see it plummeting lately. next, we will discuss china.ning in this is bloomberg. ♪ haidi: this is "bloomberg daybreak: asia." trump has notnt been shy of criticizing fed policy in recent months. just yesterday he called the fed's biggest threat, saying income growth is threatened by rate hikes so the release of the latest fed minutes won't make easy reading for the president. thank you for your time. minutes asee the fed meaning more rate hikes will come. they took it as a hawkish sign. would you say that was the case? minutesld say the didn't actually tell us anything we didn't know already. it did crystallize some of the takeaways and that's natural in light of the data we've been seeing in the u.s.. for theded our forecast target fed

housing stocks on wednesday. a that definitely will be key piece of data. in items of the september retail sales data, even though there a bit of a game, there was a disappointment and that impacted sector, not to mention the sears bankruptcy which also was a depressive factor. see some big names, abercrombie and kohl's, l-mart and national stores all down. have this housing starts data and sales of existing homes, hat was closely watched by the market in terms of what they're xpecting, weak results, especially with existing home sales and that anticipation of being data is already seen in weaker housing stocks, a red flag of what's ahead and for the he suppliers housing industry such as flooring and paint companies sherwin williams. >> in new york for us. a team of investigators has saudi consulate in istanbul for what turkish joint ls say the inspection of the building where saudi jamal khasoggi was seen weeks ago. cnn cites two sources who say that the saudis will acknowledge died from an interrogation that went wrong. on monday president trump roposed a

the fresh round of earnings, and potentially weak housing data are all set to weigh on this week. the key question is this something? >> that is a key question. the tech rebound certainly snapped the six-day losing streak. can it continue. let's look at the market snapshot. we did have the dollar stronger. the 10-year yield holding above 3% on friday's close. the nasdaq really where the strength was, up almost 3%, and the vix falling. will the volatility come back? let's take a look at some of the earnings ahead. we had the banks kick off earnings on friday with mixed results. back of america, goldman sachs, morgan stanley will clearly grab investors' attention. all of those stocks except for morgan stanley rallied on the strength of some of the bank earnings. netflicks will always be out. a lot of focus on that because their evaluation is a big issue. let's look at some of the other stocks that will get a lot of attention. we talk of the increasing tension between the u.s. and saudi. that could have direct impact on lock read and raid on. they have very big too deals with the sau

we are going to get housing data out on wednesday.hat is when we get the fed minutes from their most recent meeting. we have already gotten forecasts from economists on both the existing home sales and new construction as being weaker, and you're seeing that already reflected in the housing stocks, the homebuilders, and even the suppliers, sort of preparing, anticipating a red flag for this sector. tensions are seeing which the u.s. and saudi arabia over missing journalist khashoggi. what has been the impact on the oil market? su: we saw oil take a move lower. 2% on the saudi-u.s. tensions. as towas the issue raised whether saudi arabia would remove oil. then when president trump came out and said that there is a possibility that it is a rogue action, that definitely eased concern about the tensions between the u.s. and saudi arabia, but they still exist. slightlyed to closed higher. look at gold. there is a question about whether the hedge funds were shorting gold. short-term, gold remains in a good place. in the lastur times five se

other housing data tell a similar story: prices and sales of new single family homes are weakening, housingnding statistics, facts and trends . . . halloween retail spending will be $9 billion in 2018. it's a little less than 2017's record of $9.1 billion. slightly fewer, 175 million, will celebrate. they will spend a record $86.79 per person,. one reason is that halloween is a very affordable holiday. it doesn't cost as much as christmas or thanksgiving and is still lots of fun. part of this is a permanent shift to thrift that occurred during the great recession. around 90 percent of americans will buy candy, spending $2.6 billion. almost 75 percent will purchase halloween decor, spending $2.7 billion. the most expensive part of halloween is costumes. just under 70 percent of americans will spend $3.2 billion on them.the top five costumes for adults were a witch, vampire, zombie, pirate, and avengers character. winner: mcdonald's launches plan to help employees kickstart careers across various fields . .. announced a plan to help put young restaurant closer toward career goals - burger cha

first, the planning department aways most recent housing balance report shares data on housing production between the third quarter in 2008 and the second quarter of 2018, so that is a ten-year span of data. this ten-year period resulted in a net addition of approximately 6,500 affordable units to the city's overall housing stock, and i think this is an important point that i will come back to later on in the hearing. of the new housing stock, approximately 1,500 affordable units are inside district ten, and just to orient you, if you have the documents in front of you, you can see planning table document three, which is in tab one. this same report shows that district ten is carrying over 40%, over 40% of new -- of net new -- that means new -- affordable units in the city's entire pipeline. most of which are, quite frankly, under construction. bayview-hunters point alone has 1,136 affordable units in the pipeline that are at 55% a.m. i. or below. the current structure, and this is what i'm concerned about and want to have a discussion on today. the current structure is creating a circums

this is the worst number yet in a string of bad housing data sales of newly built homes in september for the month, down 13% annually to the slowest pace in nearly two years. this number is so critical because it measures signed contracts. that is buyers out shopping in september when mortgage rates jumped those buyers were making the calculation can i afford this home with these rates. and clearly a growing number were saying no prices were slightly down. but that may just be because more of the lowest-priced homes are getting deals, skewing that median number lower. mortgage applications to buy a home are now unchanged from a year ago, and sales of existing homes have been lower for the past several months. tomorrow we get pending home sales, which also measure signed contracts for existing homes watch for that right here on cnbc at 10:00 a.m. eastern time. and for a wrap-up on just how badly mortgage rates are hitting all facets of housing, that's up right now on cnbc.com. back to you guys >> all right, diana, thanks. diana olick. >> ah. energy -- thank you. energy stocks are off