as we look at this, kailey leinz , it does not do anything dramatic but it keeps moving up. kailey: we are still riding the momentum because a lot of rest have been removed from the market. get a lot of risk has been removed from the market -- a lot of risk has been removed from the market. we consider yesterday's trade, it was the tightest range since december 2017. we are looking at a tighter range today. there is not a lot of action going on. when you look at the action in other asset classes, which have run so far, look at bonds and the 10 year yield, it has now crossed 1.90. oil is much higher for the past four days. risk on trend. we may be slowing down. david: one thing that seems clear as they do not care about impeachment. the markets do not react at all. kailey: the market knows what they should have in. unless there is a huge -- what they should have priced in. unless there is a huge surprise i ame senate, -- while sure people have their eyes on impeachment, it will not move the market. david: what a difference a year makes. remember last december? kailey: bad memo

vonnie: that was kailey leinz. to the new ceou and his outlook for 2020. g tv allows you to browse all the charts. you can catch up on analysis and savior -- and save them for future reference. ♪ vonnie: live from new york i am vonnie quinn. this is the european close on bloomberg market. day after he was impeached, president trump reviewed the allegations. the democrats are engaged in presidential harassment. on twitter he wrote, "the do-nothing party wants to do nothing with the articles." nancy pelosi and chuck schumer are deciding when to send the articles of impeachment to the senate. that is a step that would trigger the trial and stop work on other matters. withan sachs is in talk the u.s. government to pay a multibillion dollar fine and the malaysian scandal. bloomberg has learned goldman would settle by paying almost $2 billion. one of the firm subsidiaries would have to plead guilty. goldman has been accused of ignoring warning signs while billions of dollars were looted from its clients. the malaysian government fund 1mdb. plunged since feb

first, let's check markets with kailey leinz. iley: equities across the world touching new highs, writing that optimism on a phase one deal announced friday. the s&p 500 higher by about 0.8%, the dow up by about 170 points, the nasdaq higher by more than 1%. the stoxx 600 and europe also on pace for its best day since october, rally and 1.5%. if we take a closer look at the rally we have seen here on gtv , in the top we are looking at the msci index. on the bottom panel, the rsi, a momentum indicator. we are above the 70 level, which indicates we are in overbought territory. if we break below that, it could indicate some significant downside to come. as to what is leading here in the u.s., the biggest point contributors in the s&p 500 are microsoft,h, apple, and facebook. facebook up by 2%, microsoft 1.7%.and apple a big portion of the phase i one trade deal was agriculture. crop futures up. corn up by about 1%, and soybeans by about 0.9%. it is also giving a big boost to fertilizer stocks. , andc up by more than 5% cf holding

here is kailey leinz. 4/10 have gains in between and 5/10 of 1%. want to remind us of the week we have had. it is the best for the nasdaq. weeks that0th and 11 the s&p 500 has gained. that is the first time into use. years.wo when we look at the u.s., we get a interesting picture. the biggest outperform her has been real estate. the third-best is utilities. it comes in a week where we saw yield rise. investors look away from growth and toward stocks. health care has been rallying. the political overhang is subsiding. it is a sector leader. in today's session we have to remind our viewers it is quadruple. you have options expiring, heightened volumes and volatility. that is what we are looking at. the big spikes in volatility. expect that today especially going into the close. movers on the date. the best three performance are all cruise line stocks. carnival beat estimates. stocks higher by 9%. royal caribbean and norwegian which are also higher by around 4%. vonnie: kailey leinz with our markets. thank you. g tv provides all of the recent cha

let's get a check of markets with kailey leinz. kailey: we are seeing weakness in europe.he s&p 500 holds up to a marginal gain and the dow is up by about 0.1%. nasdaq is the only one lower, roughly flat. it would snap its four-day winning streak. if we look at the past five days, this would be the fifth in a row that all three of them have risen if we can close in the green. the nasdaq 100 up by about 2.6% over that time, while the s&p is higher by about 2%. if we close higher today, it would be the longest winning streak for the s&p since in november come of the lung is for the dow since september. the nasdaq would be the longest winning streak since back in july. let's take a look at some of the gains put on. taking a look at the bank of america merrill lynch global stress indicator, a level above zero essentially indicates financial stress is higher when we look at demand for hedging. if it is below zero, financial stress is lower. we are seeing financial stress at the lowest level since back in may of this year. if we take a look at a few movers on the day in the pipe

here's kailey leinz. kailey: we are looking at a mutedand relatively session. also awaiting any of elements -- any develop its with regard to trade and that u.k. election. the ftse 100 in the u.k. is literally flat. stocks elsewhere in europe, the stock 600 holding onto a bit of a gain. here in the u.s., we are retreating off the highs. actually, the dow is down by the better part of 0.25%. there are some individual stocks heavily weighing on the dow today. one of them is boeing, the worst performer in that index. that is creating a big drag, now down about 2.5% after the faa chief said the 737 max fixes will not be cleared until next year. that is dashing hope that would be cleared by the end of putting 19. home depot lower after the company slashed its 2020 sales forecast. one analyst said they really just rip the band-aid right off. chevron lower, thereby not as much come after the company said it is going to take an $11 billion right down because of weaker natural gas prices. also something lower today is oil, now down about 1.5%. really a sharp decline ahe

that is kailey leinz.emember the function gtv on the bloomberg allows you to browse all of our recent charts featured on bloomberg tv. catch up on key analysis, save your favorites for future reference. this is bloomberg. ♪ ♪ vonnie: biogen has been halted. it was down 0.9% before the hold. finalizing details of a re-dosing study of their alzheimer's treatment. we had learned earlier that some data showed that it didn't reduce a decline in patients that had undergone a trial, and that was negative the stock. it is set to resume trading in about 30 minutes. biogen saying it is finalizing details of a re-dosing study of that same alzheimer's drug. guy: let's check in with the bloomberg first word news. here with the details, ritika gupta. ritika: house democrats will draft articles of impeachment against president trump. house speaker nancy pelosi says the president's actions are a profound violation of the public trust. rep. pelosi: the president leaves us no choice but to act because he is trying to c

vonnie: let's get a checkup markets with the kailey leinz. iley: the stoxx 600 in europe higher by just about 0.6 percent. we are seeing outperformance in u.s. equities, with the dow higher by over 200 points. the nasdaq 100 up about their nasdaq -- and the s&p up about 0.9%. if we look at one-day percentage moves, we haven't actually had a move of that magnitude in two months, since back in october. it has been a struggle for the s&p 500 to see a gain of over 1% in recent weeks. we see it is the sectors heavily sensitive to tariffs that are really outperforming come of the likes of apparel and auto stocks, each of those indices up about 1.8% and 2% respectively. semiconductors are heavily sensitive to each and every develop meant as it relates to china trade. right now the socks index up by about 2.25%. the kbw bank index up by more than 2%, in tandem with the massive moves we are seeing in yields to the higher degree, up about eight points. those higher yields are good for bank stocks. such take a look at the farm space, both in terms of far

let's check global markets now with kailey leinz. iley: we are looking at a bit of a mixed picture. not a lot of conviction in equities today. 0.1s&p 500 up about percent, while the stoxx 600 is really flat. the nasdaq, a bit of outperformance, up by about 0.2% now. the msci emerging markets index is at its highest in 18 months, higher for a sixth straight day, as is the s&p 500. this trading is coming with not a lot of action. if we look at the trading range on the s&p 500, luke mentioned that in your conversation just now, yesterday the s&p 500 was just about the tightest it has been since december 2017. with the moves we have seen so far in the session today, the trading range is looking even tighter. we are not getting a lot of action as we head into the holiday. where you are seeing more action today is the transport space. the big drag is fedex, which is now lower by almost 10% after second quarter in a row that it cut its forecast. that dragged on its peer ups as well, despite the fact that fedex has been underperforming. to ta

here's kailey leinz. kailey: it's been quite an interesting session.nvestors really getting whipped with every headline as they weigh the usmca trade deal and a fed decision tomorrow. the s&p 500 is holding onto a marginal gain, up less than 0.1 percent, while the dow has plunged into the red by four points. the nasdaq is still higher by about 0.25%, while the stoxx in europe is down by about that much. if we look at an intraday chart of s&p 500 futures, we were in positive territory, then deeply negative before the market opened in the u.s. we got a big leg higher on a report that china think the u.s. will delay those tariffs set to take effect over the weekend, but that was put a little cold water on by mick mulvaney, the president's chief of staff, who said that pins on how talks go. we did see a leg lower on larry kudlow's comments saying there has been no decision made on those tariffs, but so far, the bull has been prevailing. what is leading those gains at the moment our technology stocks, specifically semiconductors, which we know are heavily e

kailey leinz is here to explain what is going on with dsw and designer brands. ey: one report said this was bordering on disastrous. not only did the report -- they said the headwinds we saw would persist into last year. they cut their forecast by about 22%. they now see it adjust 1.50 five dollars on the high end. they are blaming this on the weather. the other part is tariffs. we know tariffs on footwear are in place from china and for the u.s., 70% of footwear imports come from china. it has a direct effect on dsw. the ceo says they had success in mitigating the tariffs but what they did to mitigate the tariffs weighs heavily on the results. david: what did they do? kailey: what a lot of companies do. try to shift supply out of china , working with investors, and they said they have had success in mitigating 80% to 90% of the tariffs. they will see 20 to $30 million of costs remaining. they took it a step further because they thought the uncertainty surrounding the trade war, the impact it could have on economic growth would mean consumers were not going to sp

vonnie: kailey leinz, thank you.ocratic is a dental candidates took to the stage in their sixth debate. kevin cirilli is outside of the venue in los angeles where it took place. kevin, what is the takeaway of last night's debate? who won and who lost? kevin: on policy, there was a divide between the progressives and moderates. drawingen -- joe biden a contrast with senator bernie sanders. on the issue a medicare for all, senator sanders saying our radical type of changes needed in the health care system. nema, joe biden's campaign saying they would like to see a more measured approach. elsewhere on the lower tier --didates, it was all out to although political war between elizabeth warren and pete buttigieg. facingttigieg just not transparency from high dollar donors, but from senator amy klobuchar, the democrat from minnesota, who was trying to make her case that she could be -- that she should be considered in a category of joe biden as well. vonnie: thank you, kevin cirilli, in los angeles. for more on the preside

let us get the details with kailey leinz. reports that smith, the former cfo of target will be coming over to bed, bath and beyond. course, smith worked with bed, bath & beyond's new ceo at target. merchants the chief officer before he came over. since he came over, the stock has rallied by more than 75%. the big challenge he was facing was turning things around. they are struggling in the face of competition from the likes of online and discount retailers. that mean have savings door -- that sort -- that store sales have fallen. we have seen a decline of more than 6.5% in two consecutive quarters. triton is changing up the leadership. he announced six other executive shakeups, antedate it is the cfo changing. as for why investors will be excited about two target investors, all you have to do is look at target's performance, the stock has doubled making it not only the best-performing retailer, but one of the best performing stocks in the s&p 500. depending on where you are targeting, it has seen 10 consecutive quarters of co

kailey leinz is here. >> it is a second to last trading day. turning softer across the board.he stoxx 600 on pace for its worst day in a month, down .7%. same for the s&p 500. we are seeing an incredible year so it may be profit taking into year end. interesting because it follows what has been an sector with technology come up 40%. the best performing sector day today but the worst today. of high-speedoff when you look at momentum indicators like the relative strength index, we were in overbought territory but maybe cooling down heading into the end of the year. look at a company like apple, is up more than 70% on the year and has contributed 10% to the s&p 500 gaining on a point basis. softer today to the tune of .7% lower. the same for other stocks like alphabet and facebook, which are lower by 1% today. stocks in tech have done incredibly well, but among the biggest laggards today. , ridesharing and auto. ft significantly lower. uber is a lower by 2%. tesla is down now for percent. you have the first delivery of vehicles made by factories in shanghai. it may miss the deliv

i'm kailey leinz.'s continue our global tour of the week's top stories in business, finance, and global politics. the eu lawmakers approved a groundbreaking set of financial regulations. agreedeuropean union has on a landmark finance regulation. it will define what is green and what is not. we could have implications for investors, all kinds of funds. what exactly is green taxonimy? >> it sounds very nerdy and technical, but can be significant. the european union agreed to set out the framework to regulate sustainable. they really want to set out the foundations to really define what is green and what is not. they want to do this in a way to set a global benchmark for investment and the sustainable space. you have to look at the political context. the european commission is determined to get ahead with the deal, get it done in 100 days. it would be a key pillar to define what is green investment in europe. ended half a decade of negative rates, raising the benchmark to zero. >> what's passable for us r

kailey leinz has a closer look. ley: it was quite the weekend, and that was true online and in stores. take a look at brick-and-mortar retail, which fared well. sales were higher with spending blackres up 4.2% on friday. average ticket price is up 30%. we saw a lot in electronics. average ticket prices were up 483%average ticket price is up . from your average friday. of course, we know online is the big story this year. black friday online sales hitting a record at $7.4 billion. that was nearly 20% from 2018. interestingly, nearly 3 billion of those dollars were spent on smartphones. today is cyber monday and we expect another record. americans expected to spend nine this cyberion on monday. that would be a gain of 19%. as far this cyber monday. as retail stores are faring in all of this, in the holiday period, they usually tend to outperform the broader market. that was true last week, and is performance4% on during thanksgiving week. as retail stores are faring in all ofbut they tend tt performance going into the

kailey leinz is here with more. barry diller asserting his authority. ey: asserting his authority and the market is be happy. a bit of a slap in the face if you are ceo when you step down and the stock shoots up. but expedia has been underperforming. the stock has been down 30% since the new seo took over. -- the new ceo took over. sales growth in the fourth quarter will be less than 8%, which was down more than 14% at the start of 2018. that is what led to them stepping down. the board disagrees with the outlook. they disagreed on strategy and barry diller essentially pushing them out. david: disagreed on strategy. does barry diller have a better plan? kailey: it is the focus. the focus was on building the hotel presence internationally, but that is not where the growth is. trying tohey're compete with the likes of airbnb. because they were trying to compete with hotels the growth and flatline. growth virgo revenue drop. the vice, diller and chairman will be overseeing the executives and driving strategy until they find a new long-term ceo. they will be

kailey leinz joining us with the stock of the hour. boeing shares are higher. ey: the market has taken kindly to this. boeing had had a solid run under dennis muilenburg. we ran into -- it will be trivializing to call it speed bumps. weekend,liner over the but than the ongoing saga of the 737 max, the grounding of the plane, the uncertainty surrounding its recertification. carol: the last week has been crazy. kailey: boeing announcing it has the halted element of the plane. it is their big money maker. they had 4000 of these on backlog. that is a timeline that is uncertain. we saw him speaking in october and are still no closer to a resolution. carol: you guys were watching the hearings. this is a big story and it continues to be one. kevin: i am three us as to whether or not the optimism is warranted and whether the new ceo will be able to accelerate the timeline to get the plane recertified. carol: that is a great question. kailey: the answer is that it will not accelerate the timeline but it may mean there are not additional delays. dennis muilenburg has at t

kailey leinz is here. if this labor law went into effect, they might have bigger losses. ey: this is a stock that has already lost 33% since its ipo earlier this year. it is suing california over the log related to gig economy workers. the law says any contract workers part of the companies usual business have to be classified as employees. it is designed to make sure they get benefits like overtime. that has large implications for cooper. it has about 22,000 employees, nearly 4 million drivers that operate as independent contractors. if uber were to have to reclassify those employees as employees, having to pay off those benefits, that could have serious financial implications, especially considering this is a company that has yet to turn a profit. it is looking at a net adjusted loss of $6 billion. the market has doubts about that . a lot like this could hinder those efforts. david: california had the first laws on the blocks, but new york is coming. they have a lot of regulation to deal with. kailey: with london it is safety concern. there is concern about the big econo

kailey leinz is here with more. kailey: there was so much excitement.are looking at a stock that has doubled in the past six months because of all of the optimism surrounding the shanghai factory. today that is being overshadowed. we have a bull and bear case and the analyst community on tesla. at $414 and the average analyst price target is $298. the bear case is coming from cowen, the analyst said there is demand saturation. as a result he thinks they will miss their delivery target again. david: that is something different. we always worry about their ability to produce enough cars. they might be able to produce them now but maybe people do not want enough tesla's. kailey: they've worked out the kinks in the production, but the company is saying they will deliver 300,000 400,000, and particular with the model three they think -- it will come up short of the forecast. david: what about china? will the chinese by a lot of tesla? kailey: we know demand in china is slowing. we know sales have declined five months sequentially, but when you look at a mark

kailey leinz is here. i do not be skeptical, but i did not expect it to fly. ey: the timeline has changed many times since the plane was first grounded. boeing was hopeful the faa would give them clearance by the end of this year, but the administrator of the faa throwing cold water on that, saying it will not happen until 2020. we are on our time, not boeing. he was also testifying on capitol hill today saying the same thing. we are prioritizing safety. for the faa, they have an incentive to take it slowly because they have taken a lot of heat for the way they handled not only boeing certification and their involvement in the certification of their own planes, but the fact they did not ground the plane after the first crash and waited until after the second. their intentions are different than boeing, who wants to get the plane back in the air as fast as possible. david: how much confidence do investors have that boeing knows what the problem is. we interviewed the head of ryanair like last may or june and he said the aircraft would be up and running by the su

i'm kailey leinz.'s continue our global tour of the week's top stories in business, finance, and global politics. europe's commitment to a green economy took a step forward as eu lawmakers approved a groundbreaking set of financial regulations. >> the european union has agreed on a landmark finance regulation. the deal will define what is green and what is not. which could have implications for investors in all kinds of funds. what exactly is green taxonimy? tell us what is being talked about. >> it sounds very nerdy and technical, but can be significant for the investment community. the european union agreed to set out the framework to regulate investment. what is crucial is they really wanted to set out the foundations to really define what is green and what is not. they want to do this in a way to set a global benchmark for investment and the sustainable space. of course, you have to look at the political context. the european commission is determined to get ahead with the green deal, to get it done

vonnie: kailey leinz, thank you for the market update. we are seeing headlines from the doj and inspector general report. the horowitz report. it is on no bias or spying against the trump campaign. majors the fbi made a mistakes surveying carter page. this is the long-awaited horowitz report, michael horowitz. the report has been released. it is the report on fbi surveillance around the 2016 presidential election. once again, it is talking about major mistakes in the carter page surveillance, but also saying the fbi probe into trump associates was justified. and the watchdog is urging a review of all officials working on the page case. we will have more on the details in a few moments. with u.s. stocks edging lower, we are joined for market analysis by head of global equities, whose firm manages $1 trillion. how important is this week for where you position yourselves from next week onwards? >> a lot of information coming out this week. we think the key issue right now is that markets have priced in a lot of the optimism. yes, there has b

let's check those markets with kailey leinz. kailey: there's not a lot of action today.king at just marginal gains. the s&p higher by just a point right now. there's not a lot of risk factors for investors to be worried about at this point, but maybe there's not a lot of good news either, so we are now just in a holding pattern. it could be that we are just losing momentum as we head into year end. this is taking a look at the weekly moves in each of the three major averages. all three indices has moved higher in seven of the nine weeks. we may be losing just a little bit of steam as we head into the holidays. i want to start off with fedex, the worst performer in the s&p 500 right now, down about 9%. second-quarter earnings fell 38% year on year. it also cut profit forecasts for the second quarter in a row. general mills and steelcase both moving higher. rounded outant to with department stores getting a lift today on some research that said macy's or corridor comps are looking a little better than expected. and has macy's up, nordstrom and polls each get a lift off of

he is kailey leinz. kailey: we are looking at the three major averages in the u.s., all lower by 1% or more. the dow down by 1.5%. the underperformance of the ftse 100 in europe, now down about 1.8%. art of that is due to the strength we are seeing in the british pound, but the broader narrative over risk assets is trade, with the president saying he wouldn't mind if we don't have a china deal into after the election. also some reports that the summer 15th tariffs will indeed come online -- the december 15 tariffs will indeed come online. one-dayook at the percentage moves on the s&p 500. those losses have accelerated in each of the past three sessions. it is also only the third day of three consecutive down days since over the summer. this would be the worst day for the s&p 500 since october. the biggest laggards are the tech and financial stocks. apple, amazon, microsoft, and jp morgan. these are four of the six heaviest weights within the index, having a big part in taking them lower today. they are al

here's kailey leinz. kailey: if you look at equity markets across the globe, we are really mixed.e are lower by the better part of 0.2%, while the nasdaq is still urgently higher, entity 500 -- higher, and the s&p 500 awaits a lot of central bank decisions on the tariff deadline coming at the end of the week. investors aren't looking for any kind of optimism. one place you might be able to find it in the terminal, take a look at the so-called misery index. we can see that the inflation index is at its longest going back 50 years, so that may be a positive sign in terms of the economic health here in the u.s., which would be aiding a bit of risk appetite. let's take a look at nordstrom's, up by the better part of 4%. macy's of the better part of 2% even though it got cut at golden sex today. -- at goldman sachs today. it is getting a lift to some of the shopping center retailers. some other stocks on the move in a big way today, a biotech bonanza. you have synthorx surging after it was bought by sanofi after the close on friday. you also saw a huge premium in the arqule deal come a

let's check global markets now with kailey leinz. kailey: final day of 2019, and why markets are already closed in europe and asia, and the u.s. we are looking at relatively muted price action in a year in which the s&p has rallied nearly 30%. 0.1%, thes down nasdaq down slightly more. maybe a bit of profit taking in this final session of the decade, but we also have to note that as it is come volume is relatively low. if we hop into the bloomberg terminal and look at the average volume for the s&p 500, we can see that volume right now is about 40% below the average for this time of day, so not a lot of trades being made out there. as for some other action in other asset classes, i want to take a look at the dollar. the bloomberg dollar spot index is lower for a fourth consecutive day, sitting at its lowest level since back in march mere -- since back in march. you have better economic data elsewhere in the world that is meeting currencies look rid of hadley more attractive and the dollar less so. let's take a look at we'll. we'll is

here's kailey leinz. kailey: the risk on rally is picking up steam.ll three major averages in the u.s. higher. it could be the best day for the s&p 500 since november 1. the stoxx 600 now higher by about 1.1%. what is fueling the risk optimism today is the better-than-expected payrolls report. 266 thousand signals that the u.s. economy, most important lead to consumer, remains on good footing. let's take a look at the intraday chart of s&p 500 futures to see what impact that print had. we were cruising along in positive territory, but when that number crossed, we saw a sharp spike upward, and we have been adding to those gains as the session grows older. you are seeing money coming out of more safe haven assets like bonds. bonds lower, yields higher. initially on that number they spiked by as much as five basis points. we have recovered some of those losses, but of course, some of those higher yields are good for banks. we are seeing the likes of j.p. morgan, bank of america rally by the better part of 2% today. dow, 3m thein the best performer i'd a

kailey leinz, over to you. iley: we are continuing to put on the gains as we head into the holidays. the s&p 500 higher by about 0.2%, with the dow up about zero point 4%, in part due to boeing. of theer stories come spike in silver, with prices that more than 1% today. the other is the ftse 100 in the u.k., up about 0.5% right now. this is actually the ninth consecutive gain for the ftse 100, at longest winning streak since may. we continue to ride the high from the election back in december just a few weeks ago. timmer get back to boeing, it is the leader in the dow today and the heaviest weighted stock in that index. right now you're looking at that stuck up about 2.8% on the ceo switch up. investors seem to be liking that. it has the stock on pace for its best day since back in november. this has been a very volatile ride over the course of the past year. the stock has really been in a range since the 737 max crashed back in march. i want to start with apple because it got a price target lift at wedbush up b

kailey leinz is here with more. ey: we know macau is very important to wynn. 55% of their total revenue share. all of the flows into macau are vital for wynn. we know it has not been a great story. gambling revenues in macau are set up all 3%, the first yearly decline since 2016. that is not a great story. been from geopolitical uncertainty ranging from trade, a narrative that looks better as of five minutes ago when i last checked, and in relation to hong kong disruptions in travel because of ongoing protests. hong kong may prove to be a boon to macau. reuters reporting chinese president xi jinping looking to build out macau as a hub, do more to diversify the economy. that could bring more people in the door. david: president xi's attitude toward macau is critical. he cut back on some of the high spending for it leaders of the country and it hurt macau. if he is saying let's go with macau, that is big news for macau as well as wynn. kailey: not only gets people to the enclave, but vip gambling has been a weak point

what's get a check on the market with kailey leinz. we are almost done with 2019. kailey: two trading days left. we are a little bit softer, invt easy. right now, the s&p is lower by .3%, as is the dow and nasdaq, all of this on lighter volume. even as stocks are lower, so our bonds. the 10-year yield looking at 1.9%. that is leading to a bear steepener money look at the spreads between longer-term yields and the 2. the spread now at 33 basis points, the steepest the curve has been since october 2018. what we're looking at in the pink, this is happening in tandem with the fed's balance sheet. now about $4 trillion. it is contributing to this steeper curve. as for movers on the day, let's gs space.ok at the ri airstrikes in iraq and syria are spikes. all rowling more than 8% on those increased geopolitical tensions. not rallying today, let's look at social media companies. facebook and twitter are down by about 1% today. they have seen some significant rallies this year, so we may be seeing some profit taking. pinterest also lower by 2%. that stock has lost about hal

kailey leinz is here with more. i thought it was down, it is up. ey: a lot of the downside surprise was yesterday when it was for -- what was first reported the board was weighing this. a lot of that was prized in that sometime in january they were -- they will stop production of this plane. the timeline for coming back up in the air is uncertain. we had the faa saying yesterday we are in no rush, some analysts thinking it will not, until the end of january or beyond. to produce this plane throughout its grounding. they have been making 42 a day. they have 400 that are in storage. they are not getting paid for those planes until they are delivered. they have been spending this cash. one analyst says that rev record the plane has been grounded, they burned $4.4 billion. that they will halt production, it has been half that good may be seeing the stop getting a bid because the company is going to save a bit of cash. david: what happens to all of those workers? kailey: the company saying no one will get laid off. they will continue working on the 747 p

david: thanks to bloombergs kailey leinz.hase one trade deal seems to be heading to a collision with congressional sanction on china on human rights issues. totalked a former ambassador china max baucus next on "balance of power" on bloomberg television and radio. ♪ david: from new york, this is "balance of power" on bloomberg television and radio. i'm david westin. or bloomberg first word news, we go to mark crumpton. authorities say four people are dead, including a gunman at a shooting at the naval air station in pensacola, florida. wasord on who the shooter or a possible motive. it is the second shooting this week to take place on a naval base, as sailors shot to workers and injured another before killing himself wednesday at joint base pearl harbor-hickam. frustrated travelers are facing the second day of a transit strike. unions are protesting french macron's's emmanuel plans to revamp the retirement system. most trained assistant were at a halt. major tourist attractions were forced to close. thursday, police fired tea

many thanks to bloombergs kailey leinz.nations gather in madrid to talk climate, we talked to stephanie kelly, a senior global economist. we talked to her about her new report on risk and opportunities when it comes to climate change. this is "balance of power" on bloomberg television and radio. ♪ david: from new york, this is "balance of power" on bloomberg television and radio. i'm david westin. jeh johnson served as a secretary of homeland security under president obama. he was the principal legal architect of the obama administration's efforts to combat terrorism. we are pleased to have him back with us on balance of power for today's conversation in chief. ave us a little bit of summary of where we are in terms of our national security, homeland security. start with mexico. about theo talk border, but we have these murders of the drug cartels. what is going on with drug cartels? jeh: unfortunately and tragically, the murder of the u.s. citizens is a reflection of a larger wave of violence caused by these cartels that's

let me cross over to kailey leinz to get us up to speed. 2 years old according to the new york times. that news was confirmed by his daughter. he was a treasury department official under multiple u.s. and ministrations and reserve official in the 1970's and 1980's. he created the volcker rule. he has died at 92 years old. jonathan: thank