joe: i'm joe weisenthal. matt: and i'm matt miller. joe: u.s. declines hearing by more than half after the s&p was brought back from a three month low, but the question is "what'd you miss?" data isek chinese trade fostering new doubts about the health of the world economy is the federal reserve is preparing to tighten. chairmanwells fargo and ceo is out, marking a stunning town fall for one of the banking industry's most powerful figures. discovered donald efforts to self opposition research, so how is he shifting course? less than 30 minutes to go before the close. take a look at where the major averages stand right now. way higherding our with major averages still in the red but it has been a steady progression north with utilities and real estate reinvestment trust leading the way. the drives are financials and tech stocks. let's go live to the nasdaq where abigail doolittle is keeping an ion those tech names. abigail: it has been a down day for the nasdaq but well off the lows. earlier, the nasdaq had been down more than 1% and some of this

joe: i'm joe weisenthal. julie: the selloff in treasuries are deepening. joe: the question is what did you miss? fresh concerns over faster inflation. u.k.tability of the currency rocking the markets today. shortly on the selloff. facing one of the toughest passes -- more of his interview is coming up. apple is higher today. we will look at the withers and the losers of the samsung shutdown. >> yesterday, equity markets subject to a dangerous combination. vulnerable.ts are you have earnings expectations, pretty high. andhave 30 high valuations levels of volatility which are low. look around the world and levels have an economic policy and uncertainty that is very high. a dangerous combination right now. >> the next guest says skepticism is understandable. is the global adviser head of research, tom lee. you have one of the highest for cat -- forecasts, known for being bullish that that is for a very long time. thiss the current bout of unfounded? >> any different than every 2% selloff this year. every time the market stumbles a little bit, everyone stumbles

joe: i'm joe weisenthal. matt: i'm matt miller. joe: the question is, would you miss?- what'd you miss? inflation may have been underwhelming but earnings are stand out as we head into the close. investors are eyeing yahoo! and intel very closely. and we are going to be speaking smith.tel's stacy the chipmaker is pivoting aggressively as core pc sales and. and it has been a horrible year for bill ackman could even his adversary -- even as his adversaries seem to be plotting emise, should we be counting him out? could bill ackman make a comeback? scarlet: we are heading for the close so let's look at whether stock indexes stand with abigail doolittle. abigail: we see lots of green for the three major averages. higherp 500, nasdaq all with lots of green. nasdaq close to one person as the tech-heavy index charges forward. let's look at the financials. i socket of strength for u.s. stocks. goldman sachs and blackrock and regent financial trading higher. goldman sachs earnings really stand out. a lot of the strength is driven by fixed income strength come up 49% on a year-o

kicking things off is joe weisenthal. joe: this chart relates to the goings-on at twitter.ing clobbered again today. falling below $17 a share. that's below where it was when the talk of the sale came up. this charts the sentiment on twitter. the red lines are tweaked that are negative on the company. the green lines are tweeps that are positive on the company. ofng back to the middle september people were very excited. i thought maybe twitter was finally going to get a sale. long-suffering twitter shareholders finally getting a payday. notrts coming out there is going to be a sale anytime soon. we see how negative the sentiment has become. perfect social media corollary to what's happening in the market. that's very meta. what have you got for us? this is an industry that has been heard by slowdown in toryism. is the s&p global luxury index. luxury related companies. it has fallen 3.5% this year. of its constituents have dropped over 10%. a big factory is watch sales. industrywide. the purple line is down by 17%. this has a broader product range. shares are off by 7.5%. bo

this is bloomberg. ♪ joe: i'm joe weisenthal.w markets are preparing for november's election. let's look at the chart put together. it shows the premium people are paying for downside protection versus upside protection over the next two months. it hit its highest level earlier this week. although it does not look like there's a ton of anxiety in the market right now, markets still .airly high, fairly muted there is a lot of hedging going on in terms of what happens over the next several weeks. matt: it's interesting because i have been asking people if investors are hedging against the possibility of one election the other. over the past few days, there has been some craziness, right? hence the friday bombshell dropped and now the spat or feud between paul ryan or donald trump continues to get more and more caustic. it is becoming a problem for markets as well. joe: yes, it is. let's continue talking about that, shall we? am i right? as the situation, is the environment getting more caustic in washington, d.c.? can you feel it?

joe: i am joe weisenthal. matt: i am matt miller.carlet: jabil circuit case for connotative monitoring policy. matt: at a speech in new york, vice chair stanley fischer said government policies can hardly counteract the impact of the games that could be holding back u.s. economy and weighing on interest rates. tug-of-war been in a lately over whether the company and continue to add subscribers or if it has hit a wall. bank of america today reporting its best third quarter for fixed income trading in five years, labonte trading revenue continue to be a bright spot for goldman sachs tomorrow. scarlet: let's look at where the major indexes stand. we are still down but we have taken a like lower in the last 10 minutes or so. at what is a look going on current abigail: it has three majorabout averages. in the u.s., the dow, the nasdaq, three major averages down 3/10 of 1%. investors are treading water. this follows back-to-back weekly declines for the dow and s&p 500 and. august 4 to brexit. we take a look at the 10 year yield and today i

joe: i am joe weisenthal. scarlet: ims girl scarlet fu. oil supplies declined for a fifth straight week. joe: "what'd you miss?"? scarlet: earnings in just moments. closeill deutsche bank's cast a shadow in washington? they say the bank will be able to pay the dead bills. indiana governor succeeds without really trying to defend his running mate donald trump. we look what is next for both campaigns. we begin with the market minute, s&p 500 rising, after two days of losses. this is coming back from decent economic data. a ton of data cap today, but what was noticeable is the manufacturing and services, which added fuel to the idea the fed may go ahead and raise rates come december. joe: those numbers are what people pay attention to, the isn number setting the tone for the day. matt: and fuel really helped today. oil stocks were among the biggest gainers. if you look at the imap, you can see financials were the real winner. wells fargo was one of the biggest point additions to the s&p. you see energy ranks below it, the losers really, the sa

scarlet fu and joe weisenthal will hold break the news. you can catch all of that on bloomberg tv and radio. mark: another twist in one of the most unconventional presidential races in american history. washingtonlive to with the fallout on the fbi decision to once again investigate hillary clinton's e-mails. this is bloomberg. ♪ from london and new york, i'm mark barton. vonnie: i'm vonnie quinn. this is bloomberg markets. the fbi is reviewing files related to hillary clinton's e-mails and it is already having an impact in the polls. 46 to 45 leada over donald trump nationwide. she had a 12 point lead earlier. correspondent in regular times. these are not regular times. she joins us now. don't we know that we shouldn't take too much notice of polls anymore or can we trust them? >> the candidates always say they don't pay attention to polls unless thingy to pay attention to polls and they all are right now. in thatpoint fallout abc poll is kind of thehi-end of what could be possible in the closing days of this campaign. the real question i

joe: i'm joe weisenthal. matt: and i'm matt miller. scarlet: gold tumbling on speculation of a federal rate increase. joe: the question is, "what'd you miss?" scarlet: we break down what this means for markets with binky chadha. joe: the takeover of monsanto. we have the charts that you can't miss ahead of the earnings tomorrow. matt: before brexit, there was grexit. discussing the greek economy today and whether it has turned the corner. we begin with our market minute. u.s. stocks have begun october, the month in the quarter, weather tends to be quite a bit of volatility, with back-to-back losses. moving higher, reflecting some anxiety. i think it's a little deceptive because while it doesn't seem like much, the story today was the brett of the selloff. everything getting hit on. joe: i will show you that -- matt: i will show you the story right now, using my eye. .- imap everything is red, with the exception of financials. once again, second day in a row this week, defenses getting hit the hardest. utility, telecom, tear he is, all d

joe: i am joe weisenthal. scarlet: and i am scarlet fu. e dollar holding steady and looking at a possible rate hike for december. joe: the question is, "what'd you miss?" scarlet: a goldilocks report for the jobs report, but we are breaking down what you need to know in three charts. matt: brexit is turning ugly again. the british pound is tumbling and tensed -- against the dollar in early trading yesterday in asia, a sharp move triggering concerns. joe: and i sat down the governor of norway's central bank for his take on central bank ammunition. he says that markets have a tendency to overreact. we will hear why, later this hour. scarlet: we finished relatively flat on the day, but the dow did climb 119 points at one point. little change after it came back down. however, when you look at how things have fared for the week, we are on pace for the first weekly decline in a month. joe: a disappointing week across the board, especially for equity investors. in the ongoing backup in rates that we are seeing preventing the stocks from going high

joe weisenthal is with us. ill stay past the initial five years he agreed to, but not the full eight-year term. joe: there was a lot of nervous is -- nervousness that he was not going to stick around and he was getting criticized by a lot of politicians. some reporting came out that he was going to stick around and he'she official word that here through 2019. people look at the u.k. and don't see a lot of institutions they feel confident about, mark carney is one person who people feel like he's competent, he's not part of the brexit crew, so the fact that he's sticking around and will continue to maintain the existing monetary policy framework gives people a lot of relief. he started in july of 13 and has promised to stay until june of 19. me, the headline is he's not going to stay for a full term. joe: 2019 signifies that after the brexit negotiations are over, it might be time for someone new. it's not guaranteed, but they will presumably trickle tread -- presumably trigger article 50. that would put you in t

e: i am joe weisenthal. mike: i am mike mckee. the question is, what did you miss? russia ready to join opec in limiting oil production. either a freeze or a cut sending crude to a one-year high. what happens when a highway runs out of road? we hear from the head of the bank of japan who says boj is in stimulus for the long haul. buffett releases personal information saying he has never used tax carryforward. he is challenging the republican presidential candidate to do the same. julie: as we head toward the close, let's take a look at where the major averages stand. they are off their highs for the session but still gaining ground. they are helped in part by energy prices, which are lifting stocks across the board. is's get a check on what happening at the nasdaq specifically. abigail doolittle is there. it has been a good day for tech stocks. >> we do have a nice rally on our hands. the nasdaq is trading at a new all-time high. the composite index is not far behind, close to its all-time high. really, a nice rally for the nasdaq, and as we mentioned, it is being l

joe: i am joe weisenthal. i am matt miller. welcome to our viewers tuning in live on twitter.an watch our coverage every .ay from 4:00-5:00 i did it yesterday, and i think it's even more interesting than watching us on tv. we are on twitter. watch us on twitter. scarlet: u.s. stocks falling for the week, although they did finish the day with modest gains. six of the 11 groups in the s&p today, health care and utilities were the laggards. when you look at it on a week over week basis, this is the second straight decline for the s&p 500. on the day, but obviously faded quite a bit. matt: we are down for the week. let's bring up the imac from the bloomberg terminal. were the laggards. are about toople lose their coverage because of humana pulling out of the obamacare market. news yesterday on this program. hp is going to fire up to 4000 people. people all the time. but they are going to fire 4000 more. and they are going to buy back shares. they were working on a new operating system with alibaba. alesforce no longer making bid for twitter. investors like that. or salesforce shar

joe weisenthal. global research at advisors.ing live on twitter. ♪ much more ahead in the next hour. following all of the action here♪ >> it is 3:00 p.m. in new york. i'm alix steel and welcome to "bloomberg markets." ♪ alix: we're live for bloomberg headquarters in new york. from next hour, south korea, san francisco, and washington. there is an hour left of trading and stocks are in selloff mode. the probability of the fed raising rates has been climbing. discuss with the reporof a third kurt -- third-quarter result. some are estimating it could cost the company at least a million dollars. the s&p is off by 1.5%. an ugly day. one stock is positive. 13 stocks are in the green. technologies and financials. in terms of the biggest losers, grabbing 26%. also some stock downgrades. the worst drop five years, andtting into november slowing forecasts for both of those segments and saw the earnings last quarter down and revenue down by 6.5 and 6% year on year. they do see expenses starting to rise. in the treasury market, nowhere is t

i wanted to show as a tribute to joe weisenthal, of five-year chart of treasuries.w this level here. you can see we have come up through the first fibonacci level. through the end of 2013, this recent bounds in yields has been significant and it continues -- it continued on this morning. scarlet: we are consolidating now, right? matt: an interesting thing to see. currencies had a lot to do with it. scarlet: let's focus on the loony. weaker versus the dollar, but it had gained. the dollar losing value versus the canadian currency. it was unchanged at .5%. dropped a reference to downside inflation risk, then a and theerence came out governor said they actively discussed the possibility of a rate cut. that is what you see the reversal. when it comes to the dollar overall, the bloomberg dollar index indicates a third day of , and it has been mixed. gradualooking at a very path being projected. a look at oil,e the run up this morning was pretty amazing because opec said it is getting strong signals from non-opec partners. and because demand has been strong and inventorie

dakin: i am joe weisenthal -- joe matt: it's just the headlines. mark crumpton.bama has declared a state of emergency in florida, whose coastline is in the crosshairs of hurricane matthew. the news comes after the president received a hurricane briefing. the white house says the order authorizes the department of homeland security and fema to coordinate disaster relief asked -- efforts. the storm has strengthened to a category four with maximum sustained rand at 140 miles per hour. matthew is expected to make landfall in florida, turnover -- north, and pass off the south carolina coast late tomorrow early saturday. the storm is being blamed for more than 100 deaths in the caribbean. hillary clinton holds a slim lead over donald trump in florida. 48% -- 41% torump 38%. libertarian gary johnson has 6%. jill stein has 3%. new details about the stabbing rampage last month that a minnesota mall. theral authorities say attack was likely premeditated, and that the suspect was recently radicalize. two steaked with knives. the off-duty officer who fatally shot him inside

joe: i am joe weisenthal. scarlet: ims girl scarlet fu. a fifth straight week. joe: "what'd you miss?"? scarlet: earnings in just moments. closeill deutsche bank's cast a shadow in washington? they say the bank will be able to pay the dead bills. indiana governor succeeds without really trying to defend his running mate donald trump. we look what is next for both campaigns. we begin with the market minute, s&p 500 rising

joe: i'm joe weisenthal. matt: and i'm matt miller. mbling on speculation of a federal rate increase. joe: the question is, "what'd you miss?" scarlet: we break down what this means for markets with binky chadha. joe: the takeover of monsanto. we have the charts that you can't miss ahead of the earnings tomorrow. matt: before brexit, there was grexit. discussing the greek economy today and whether it has turned the corner. scarlet:

scarlet: joe weisenthal joins us now. because the theme this week feels like inflation. everyone is looking for evidence of inflation. the cti report shows a quickening inflation but it was below estimates. joe: i have a question that i'm wondering about that. government bond selloff and we will talk about that later. and is it because people are worried about inflation or our government bonds selling off so they are looking for an excuse? because a lot of the trends have been there for a while. your is a chart that i look at regularly in my bloomberg, it shows different ways to slice up the cpi report. energy, cleveland said, core cpi. most of this did a little bit lower this month. the one exception is the red line. thosest of this, most of taped down this month. you can see the trend is clearly up for all of them. so when you talk about the inflation story, which has , it isa lot of attention a story that has arguably been going on for about a year. changed is that oil prices have risen and lifted expectations. joe: th

joining us now is joe weisenthal, cohost of "would you miss?"the peso, but the story of the day today, which is really the move in rates, at least one of the main market stories. rates getting back to where they were in mid-september across developed markets, particularly in germany and the u.s.. the vice president of the ecb pouring cold water on a taper talk. that caused rates to shoot up. story of the week as well, gold getting slammed, rates shooting up. you see it there, rates jumping on those headlines from the ecb vice president. that is a continuation of the marketing we have seen for a while. matt: gold getting crushed and the dollar continues to rise. it all comes together. we will see you again at 3:30. scarlet: we will talk about those market moves. this is bloomberg. ♪ 2:00 p.m. in new york and 7:00 p.m. in london. i'm david gura. vonnie: i'm vonnie quinn. welcome to "bloomberg markets." we are live at bloomberg world headquarters over the next hour. covering stories out of san francisco, florida, washington, and portugal. treasurie

for what it means for the country's economy, joe weisenthal is here.s world economic outlook that tensions afflict the u.s. political scene, where anti-immigrant and anti-trade rhetoric have been prominent in the start of the red test start of the presidential route. you have to think that will curb economic growth. >> the imf coming out with a fresh forecast for economies all around the world. except too remarkable characterizing the economic situation as sideways. anti-trade rhetoric around the world. their cloth -- they're pulling at it at record pace. a surprise columbia referendum. everyone expected that the pass. something we had an inkling of heading into this year. and it could all be capped by the u.s. presidential election. >> there is going to be italy in december and for -- and french elections. it looks like this more inward looking politics getting more popular. have anll certainly effect on the metrics. we will be talking about that later on this afternoon. we are also going to be speaking about the u.s. stock market. strategist andl tha

joe: i am joe weisenthal. scarlet: and i am scarlet fu. d looking at a possible rate hike for december. joe: the question is, "what'd you miss?" scarlet: a goldilocks report for the jobs report, but we are breaking down what you need to know in three charts. matt: brexit is turning ugly again. the british pound is tumbling and tensed -- against the dollar in early trading yesterday in asia, a sharp move triggering concerns. joe: and i sat down the governor of norway's central bank for his take on central bank ammunition. he

matt: joining us now is joe weisenthal.is concern, what is the front of his mind, brexit? >> i don't think so specifically. that a lot ofally what we are seeing, whether it is the volatility we are seeing or thepound anti-establishment sentiment, a lot of it has to do with the fact that the economy is still not that good. that is still the underlying theme for everything. the fact that we are coming on nearly 10 years since the start of the financial crisis, we are still searching for answers to get growth backup. scarlet: for commodity exporting nations like new -- norway, they are tied to the swings in oil prices. you have a chart on the correlation between the norwegian krone and oil prices. certainly positive but less positive than in 2015. view that the norwegian krone has some safety, that when everyone is panicking, they have a seemingly stable political system. not any monetary union, not facing a huge event. just in general, the fact that the oil story has eased a little bit. it has been stable in the mid 40's to m

matt: now joining us is joe weisenthal. i've been teasing the show all day long.. yum! brands is coming out with earnings after the bell. >> gold has been getting clobbered, down 4% in the last three days. yesterday was one of its worst days in a year or more. tried to stage a bit of recovery today but got smashed down. strong0 a.m., we got a many fracturing report -- manufacturing report. that good data confirms a higher rate story, confirms the typing story. -- tightening story. recovery, central not so inclined to ease policy -- matt: rates could go up, inflation is nowhere to be seen. >> overvalued and he made the point that positioning has been offside -- gold got off to a great start this year. one of those things that was clearly winning. one way to think about gold is to put it in the context of the general unwind safety trades. a selloff at the long end, decline of consumer staples. now, lately we are seeing consumer cyclical rise. despite the selloff in gold, future prices, investors are holding on to etf's. highest sincehe 2013. joe: you want to look at

our thanks to joe weisenthal as well. global equity strategist on volatility in the market response to the u.s. of luck -- election. stick around. this is bloomberg. ♪ erik: 3:00 p.m. in new york city, 12:00 p.m. in san francisco, and 8:00 p.m. in london. vonnie: welcome to "bloomberg markets." vonnie: we are live from bloomberg world headquarters in new york, and we're covering stories out of brazil, japan, and san francisco. one hour left of the trading session, and u.s. equity markets seeing broad gains. the nasdaq hitting a new record for the seventh time this year. brazil's new government has a deep hole to dig out of, including an economic recession. the finance minister tells us where he thinks the country is headed. u.s. retailers are signaling they are facing the toughest climate in years. they're hoping for a turnaround for the holiday season. less than one hour from the close of trading. we are higher but off our highs of the day for the major averages. 18,340 is up 100 points, are the assembly thousand -- 2340

oliver: joining us to talk about the markets, joe weisenthal.m mentioned briefly. it seems like this has faded into the background after a few days here. how come this is not something we are starting to pay more attention to? >> i think it is interesting to watch that we called it a flash crash. the implication of the term is that it hit a level that does not make sense. we've seen the pound getting closer and closer to the lows. the very bottom that was made around 7:00 eastern time. perhaps the argument that those levels were ridiculous and unjustified. matt: we often look at the pound against the dollar. if you look at the pound index, you can see a little bit of a bounce today. you can see the amazing dissent. >> unbelievable how much this has collapsed. i solved by one measure people were talking it has literally never been lower when you look at real exchange rates. matt: there was a chart out today showing it is the cheapest currency of all of the peers. based on the price parity measure. >> there is a little bit of hope. hope about the

our guest.is joe weisenthal is with us because he has been following the story fairly closely.. why do political leaders keep using referendums as a tool when it has been proven that the outcome can be very volatile? guest: in some countries, they are required to. you, thed or a straw constitution requires referendums were a lot of major changes. in other countries like written or columbia, they are not necessarily required but they are based on a political calculation by the leaders of the time that might be a good idea or they might be likely necessary even if they are not legally required. matt: scarlet mentions they are volatile. it is a binary option usually end it is a democracy, everybody who wants to can vote, isn't that a great way to make decisions? yes: it can be. when they use the term volatility they are referring to the campaign. often when a government especially calls referendum, they have done a lot of polling and they think they know how it will turn out. the minute you get into a campaign they discover there is a lot more uncertainty about the outcome than th