meeting for the first time in a year alongside this week's apec summit. >>> morgan stanley's ceo james gormankled. gorman saying there's still room for the fed to continue its fight, he sees a 3% target as acceptable compared to the central bank's 2% inflation goal >>> watching shares of target on the back of yesterday's post-earnings rally where the stock jumped 18% that was its best day in four years. backing off just slightly off 8/10 of a percent this morning >>> the u.s. seizing the largest amount of fake designer handbags, shoes, and other items on record valued at more than a billion dollars. federal prosecutors also charged two people with trafficking counterfeit goods. >>> and union workers at starbucks planning to launch their largest strike every today over stressful working conditions during promotion events like today's red cup day. starbucks has notoriously understaffed stores and is refusing to listen to workers. >>> here's what to watch today we'll get several pieces of economic data including jobless claims, the philly fed survey, and homebuilder sentiment. several more retai

we have the wex wrap-uhere as disney adds james gorman and jeremy darroch as new directors to the boardory activity drops for the second straight month in november. >>> shares of salesforce moving higher after topping estimates. the company reporting a 11% increase of revenue. >>> nascar inking tv deals with amazon and warner bros. and fox. deals worth $47.7 billion. that is according to the wall street journal. >>> and gamestop shares that it posts the best daily performance in two months. >>> let's get a check of how the markets are closing out november. dow would open up almost 200 points higher. for more, let's bring in amy zhang. a top mappnager of 2023 by morningstar. >> good morning, frank. >> the dow would open up 200 points higher this morning. give us a sense of the day ahead. what is your wex wd of the da >> comeback. small cap growth scks is in a bear market for alst three years and largely due to the peri of rapirate hikes. as you have seen, the headwind is turning inta tailwind owly. definitely in 20, i think that should be a strong comeback year. >> one of the things you

over the last few days, we have seen the development that james gorman and another are going to be joiningoard of disney and they are saying that is not going to be enough. you need us on there as well and it is issuing a statement on the disney board, basically. this one is going to run but it does look as if shareholders may get the ultimate vote on this one. we will see what the reaction is in the share price. it looks like it is dropping a little bit but we will wait and see whether we get something more significant. disney currently trading a little lower. let's turn our attention to the broader market. last day of what has been an incredible winter. abigail doolittle. abigail: we have the nasdaq with the november to remember, down .5%. stock traders perhaps not liking those williams comments around the idea that the economy is rosy and the fed may have to remain restrictive for longer. down about half a percent. as for the month of november, let's take a quick look at it because it is impressive. the s&p 500 up 8.6%, they must month since july of 2022. two year yield down 37 basis po

bill baruch, i go back to james gorman 3% -- forget 2% -- 3% inflation, quote, unquote, acceptable he was speaking to cnbc asia overnight. are we done? he thinks 3% is acceptable outcoo outcome. are we clear >> i think what you said, too, we turned a corner here. the money and money market funds, there's no such thing as a free lunch i like the metaphor of a frog in boiling water and turning the heat up. we've had a thrust in the market the closest you'll get to an all clear. it's going to be slower and slower the bears will slowly capitulate and more and more money will come off the sidelines i think you'll see a big rush in everyone will capitulate and we'll be at record highs the thing i like that also serves to point to the all clear is the vix is down 40% from the highs. it's down 20% month to date. the institutions that actually moved the market could actually put up more leverage with more volatility and will continue to grind this thing higher. >> if the risk is that the market has made the mistake of being too dovish before, people like lisa cook don't upset that. the wolf to

. >>> morgan stanley ceo james gorman is giving insight to the future of the investment bank at the forum in tokyo. g gorman will vacate next year. he said it is time for the successor to forge ahead and take the company to new levels. gorman loses the ceo title in january. >>> call it a win for cathie woods arc k invest. it sold the stake in roku after the stock jumped 50% on better than expected quarterly results. ark is the second largest shareholder in roku holding 8.4% of the outstanding shares. it is ark's largest holding. >> thank you, silvana. >>> coming up on "worldwide exchange," including the one word you need to know. >>> and the australian bank is looking to turn around after the pause. >>> and ubs is looking at the first loss since 2017. >>> and why one fund says investors all around the world should take notice of the market turning bullish. we have a very busy hour when "worldwide exchange" returns. stay with us. m so glad we did t. life is for living. let's partner for all of it. i'm so glad we did this. edward jones icy hot. ice works fast. ♪♪ heat makes it last. feel th

disney has appointed outgoing morgan stanley chief james gorman and veteran media executive jeremy derekard of directors ahead of an expected proxy fight. billionaire nelson peltz and his fund management are planning their own nominees to the board next year. he has amassed a stake of more than $2.6 billion in disney. from the united states to write back here in europe, austrian real estate group sigma has filed for insolvency in vienna. their former chairman and austrian tycoon was dealt a better blow yesterday after a last ditch attempt to raise emergency funds felder. it makes the co-owner of new york' chrysler building the latest ands one of the most prominent casualties of europe's property crisis. let's take a quick look at some of the events we are watching out for. more inflation data on the docket in the euro area this money, including cpi print from france, italy, and the bloc as a whole. we will bring your coverage right here on bloomberg television. at about 1:30 pm u.k. time, that seems to be the hour that matters for traders. we get a check on the fed's preferred inflation

talked so often about as being the victim of higher rates >> gorman is making some comments >> james gorman some comments, i think, cnbc asia >> yeah. >> they were positive. >> constructive. >> yeah. >> constructive. now, i hate to see -- >> do we want to take a listen to those >> take a listen that's code for, what is it? s.o.t. >> sot, yeah sound on tape. take a listen to gorman talking about inflation. >> the answer is yes inflation was 10%. wasn't transitory. there was some structural issues there were supply chain issues are we done? we're not done is 2% absolutely necessary my personal view is no but directionally, to be heading in that around 2%, 3%, i think, is a very acceptable outcome >> look, he was telling me that 4% was going to be okay not that long ago i will say this about james gorman has he ever looked as refreshed and as excited now that he's leaving? i mean, maybe that's the trick when you're on wall street you serve time, and then you get to enjoy your life he looks so darn happy >> he does he looks good. >> isn't that nice >> yeah, sure. another chapter beginning for h

the addition of james gorman and sir jeremy derek to the board will, quote, not in our view restore investoruse behind the significant value destruction and missteps that this board has overseen. disney has responded saying gorman's focus is on growth initiatives, the success planning processes, and increasing shareholder value. disney also flaming thal another owns 72%. mr. perlmutter was terminated as an employee by disney early teller this year and his voice has longstanding personal agenda against ceo robert a. iger. interesting one to watch. the window opens for nominations to the board on tuesday. >> julia, thank you. we'll continue to follow this one. we'll see what happens. it's very likely going to be more than two. >> i'm sure of that. again, though, we're kind of talking about -- speaking for 2% of the outstanding faires. it will be tough. if the stock works in the absence of any move on the board, i don't think anyone will mind that either, which is what happened the last time. >> let's talk about the market with 45 seconds to go. the dow is good for about 525. the s&p picking up

continues to refresh its board inuding appointments made of morgan stanley ceo, the outgoing ceo, james gorman, jeremy derrick. peltz is back and this time he seems determined to take his fight to the very end. so, jenny, you're a sharolder in disney. i think that's the way to bottom line it is he's back and the way things ended last time with the niceties exchanged on this network, et cetera, oh, boy, have things changed. >> i think that's right, and it's funny. for me, i'm really excited that brad will be on today because there are echoes right now, to me, with disney and neon peltz that echoes back to brad and face and meta at this time last year, where it's, enough. we know you have a phenomenal business. we know you have an unbelievably loyal emdded client base. we know throws money to be made here but, enough, wake up and start doing things right. we saw nelson peltz have an impact where they started disclosing, breaking things out. there's a 25-page presentation explaining earnings and the history and the strategy going forward. that is thanks to nelson peltz. i think it is that moment

while james gorman and sir jeremy derroch represent an improvement from the status quote -- behind thee and destruction and mistakes that the board has overseen. trian intends to take our case to change directly to the shareholders." bob iger versus nelson peltz as they add them morgan stanley ceo to the board of disney. jon: can his alignment with ike pearl motor who was outed by disney. bob iger sharing more on that. you wonder how iger was thinking about that because he took steps to reduce costs within the disney structure. now we are maybe getting to a conversation where we will have more to talk about. iger dismissing the idea of tv network related sales of assets. we are getting to the bigger questions that we will watch closely. we are watching the story of artificial intelligence player openai offering tender shares for employees next month. ed ludlow has been chaffing -- tracking the details on that one. this is bloomberg. ♪ that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. an

he requested multiple board seats after disney appointed morgan stanley ceo james gorman and former sky ceo jeremy derek this morning. this move coming after bob iger addressed the potential r a proxy fight at yesterday's deal book summit. >> there's a qualification level that is required to sit on the disney board, and the board will make the -- not me, the board makes decisions about who is qualified and who isn't qualified to be on the board, and if nelsoofficially requests a board seat, i'll sure the board will go through a process to determine whether he is -- where should have a role on the board or not. >> cnbc's julia boorstinas news on that and the dividend coming back. julia? disney is reinstating its dividend. paying 30 cents a share for the second half of fiscal 2023, payable january 10th. now, all this comes after nelson peltz's try-ia saying he will seek two or more board seats. he said that the addition of new members will not restore investor confidence or address the root cause behind the significant value destruction and misstepshat this board has overseen. disney rpon

. >> what if we don't need to get all the way down to 2%, like james gorman, the outgoing ceo of morgan stanley was speaking to cnbc asia and said is 2% absolutely necessary my personal view is no but directionally to be heading in that around 3% i think it's an acceptable outcome. what if he's right for the fed, regardless of what the fed says. >> right. >> what if 3% is acceptable for the time being >> the market will decide if it's acceptable and the economic data will tell us if it's acceptable and we can stop the bleeding at that point i don't think the fed will say we've changed our target. >> of course not. >> but the statement that jerome powell has made, i'm not going to quote him directly, but something along the lines of a sustainable path toward 2% what is would satisfy them. so it doesn't mean that we have to hit 2% on the dot and we've got about four different inflation metrics we look at, every one isn't going to hit that at the same time. >> isn't the market going to move well in advance of hitting the 2% and maybe this is the -- the bulls would say this is the beginning

we're beginning in hong kong where executives including ken griffin and james gorman.is standing by with our first guest. >> good morning. it's going to be very busy, we have done a lot of cheating on air. the senior executive management. good morning and welcome to the region. >> i feel good, it's very fuzzy. as hear your ago on the vibrancy has picked up. >> we are ready to continue the conversation. 12 months on we are trying to figure out the question. if you're asking if yields have peaked, it's hard to call. it's a very good environment. tickly in the u.s. we saw a big switch into cash that investors maintained butter starting to come out of it. . >> that is a bit counterintuitive. big drop in bond yields and who knows if that continues. . you still think it's an environment. our view is the earnings is not as good to justify. >> in terms of dividends, that does not seem to be the spotlight. it never does. strong balance sheet and a more predictable manner and in this environment that's very useful. we had strategies we launched an existing suite of products and

he was one of the three candidates on the running to take over from outgoing morgan stanley ceo james gorman job ultimately what to ted p. plus month. shery: take a look at u.s. futures at the moment, we are seeing downside pressure of .2% for the nasdaq 100, largely underperformed in the wall street session as well. the s&p 500 edged lower after hitting that overbought level as well. it's really been about where the fed goes from here and also all of the hype around artificial intelligence. we know that nvidia is under pressure down 1.5 percent after performing very well in the earnings results. but given the skyhigh expectations, really missing what analysts had expected for a stock that's rallied more than 240% this year already. we have more to come on "daybreak: asia." this is bloomberg. ♪ so... i know you and george were struggling with the possibility of having to move. how's that going? we found a way to make bathing safer with a kohler walk-in bath. a kohler walk-in bath provides a secure, spa-like bathing experience in the comfort of your own home. a kohler walk-in bath has one of

performed proxy peers, and they go on to say that they still believe even with the addition of james gormanchair there, and jeremy deroche, that the company still needs a refresh on its board and that investor confidence remains low and key strategic questions loom. that's sort of the corof the argument being mad sara, by nelson peltz at this point. we should point out they talk about opening roughly $3 billion worth of stock much of that stock is an ownership stake a gentleman who sold to diey and continues to own a great deal of stock so that's wrapped up here in the position that trian controls and again, will be potentially going at the board or to shareholders trying to get on the board again. disney has had no interest. they have given him the opportunity and said we're not interested. bob igeresterday was asked by andrewoss sorkin about peltz. >> there's a qualification level required to sit on the disney board and the board will make -- not me -- the board makes decisions about who is qualified and who isn't qualified to be on the board and if nelson officially requests a board seat

outgoing ceo of morgan stanley james gorman and the former ceo of british broadcaster sky jeremy derrickparent company comcast. next up is business solution salesforce. quarterly results generally positive, profits better than expected. revenues in line. but its current quarter profit forecast came in better than expected. it is the best performing stock in the dow so far this year and responsible for just about every bit of the dow's premarket gain today. and we'll end on autos. ford shares up about 1% or so, 150,000 shares plus of volume. new this morning, the automaker is reinstated its financial guidance for 2023, like competitor general motors did earlier this week. it says that adjusted pretax profits will be between 10 and $10.5 billion. previous guidance 11 to 12 billion and free cash flow about 5 to $5.5 billion, previously said it would be about 6.5 to 7. lowered some guidance. ford said the new uaw agreement will cost $8.8 billion over the life of the contract, which expires on april of 2028. ford shares also on the move, becky. >> dom, thank you very much. >>> tonight at 8:00