shery: su keenan with the challenges of the u.s.t debt the payments starting thisoth and the jump in oil prices is keeping the bed narrative highe for longer. unsurprising that although we are seeing the first reaction in futures in the green that is really fading away in the first hour of trading. that is keeping the fed narative as higher for longer. perhaps it is not surprising that although we are seeing the first reaction e u.s. averting the sub them, that is fading away. the government will run into challenges around november 17. although we have breathing room, how long that will continue is the key question. let's check in with the key economist of the board. >> inflation is top of mind even though core prices are low, we are seeing prices rise. we ask consumers they complain about higher inflation for food and energy. were looking at jobs and the jobs market is cooling. there are fewer job openings and fewer people. that's good news for the fed but not the consumer. >> anytime we question the health of the u.s. consumer, pe

will bring in su keenan.t was a very different picture after the close, amazon a mixed picture. >> investors did not know what to be concerned about. shares were flat before the call and by the end of the trading session they seemed to back in the green again. amazon reporting strong sales that beat estimates on revenue and profit including web sales, so that was a big win. they didn't disappoint in terms of their holiday outlook and that is something amazon makes a lot of money on with their huge online services. cloud revenue came in less than expected and amazon forecast was disappointed. sales for the cloud web service increased. the company maintains it is profitable. aws accounts for more profit than the rest of the company and they reported the highest margins since the first quarter 2022. more evidence of the ceos cost-cutting efforts, spending has sailed -- declined in his preamble. he talked about how amazon web services that signed new clients in september that did not reflect the october date, so

haidi: su keenan with the latest. we are also watching apple. 15 is trailing sales in china compared to what we saw with its predecessor. tell us about the magnitude of how much slower the sales are going. >> it is interesting because we have seen very long lines and long lead times for iphone shipment in china and for everywhere in the world. it was a little surprising when this report came out overnight. there has been a heightened sense of nationalism. there are been new phones from other companies. obviously, this has had some sort of impact, but a bigger impact than we had anticipated. apple will be reporting earnings november 2. we have to wait for those to get a complete picture. i think there is a little bit more to this. shery: we know sluggish sales in china will have an impact on apple. what about apples suppliers? -- apple's suppliers? >> the reverberations obviously take some time. apple buys bama these components many years in advance so these are adjustments that may need to be made at other periods. just because there is a sales

were joined by su keenan. start with microsoft. su: both companies trail amazon.com in cloud infrastructure. it's been a race to build up these products and microsoft appears to be getting the lead here. they had recovering cloud growth amid demand for these new ai products. it has prompted clients to shift back into spinning mode. the strongest sales growth in six quarters, it has paired those gains as a conference call has gotten underway and the forecasts have been given. revenue in the first quarter rose 13%, the azure cloud service sales dropped 20 -- jump between 9%. we saw shares really starting to fly come on the conference call we heard that second half wealth in cloud services would be roughly stable. a lot of focus on ai, $13 billion in the start of openai which has catapulted it to the head of the ai race. the ceo revamping the entire product suite, all to add services and a new bid to boost advertising sales take share from alphabet, google, and microsoft, adding chatgtp technology to its being search engine -- bing se

haidi: bloomberg's su keenan there.we will watch in mainland china. ctl, posting revenue that missed analyst estimates. reporting operating revenue for the nine month period was up 2% year on year. also watching iflytek, down 80% on the year. this is bloomberg. ♪ the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. with a partner that always puts you first. start for free at godaddy.com get help reaching your goals with j.p. morgan wealth plan, a digital money coach in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside - and the other goals along the way. wealth plan can help get you there. ♪ j.p. morgan wealth management.

bloomberg's su keenan joins us with the latest.izing a little bit in the session. those technicals also played a factor. >> we have seen pretty much since june there have been a lot of bearish indicators. one of them is that oil, both wti and brent have returned to their moving averages. oil, really soaring 40% from midune to late september. it is now reversing course. both wti and brent coming dow in a big way. there is an old saying the cure for high oil prices is high oil prices. the gas demand in the u.s. according to the latest weekly data has plunged to the lowest seasonal level in 25 years. that demand hit coming with high interest rates and concerns about economic slowdown together with the technical factors we just mention and algorithmic trading that set up for a real route combined to halt oil's march $100. -- march towards $100. we could see products increased like diesel in the days ahead. wti and brent show the amatic change in direction. one portfolio manager said having horrible demand data like we got from the week

haidi: su keenan there.merica ceo ron warner has said they have slowed consumer spending. he says the question is what comes next. >> what are consumers doing with money in their accounts? we will have $4 trillion spent by consumers on debit and credit card payments. money out of atm's and all forms of spending. the 4 trillion went up 9% year to date for the first four or five months of the year. still strong at 8%, it's down to 45% in the year to date in the month of september and october consistent with that. the consumer has been slowing down spending because interest rates take a toll. as interest rates went up, floating credit cards or new car purchases, rates are higher. there are mortgages getting done, those rates are higher. that slows down the student loans and ability to spend so you have to ship spending around. and frankly they are looking ahead and saying i hear things are going to be bouncing around, i will spend less. the third thing is they bought the goods they bought during covid. they bou

su keenan has the latest on the impact to the energy space.rading in australia and new zealand we saw a drum -- jump in treasury futures. we are seeing a correlation when it comes to ozzie and new zealand funds with treasury futures high and u.s. equity futures taking a slide in the early part of asia. australian bonds part of a nice footwork. man, you're lucky, watching live sports never used to be this easy. now you can stream all your games like it's nothing. yes! [ cheers ] yeah! woho! running up and down that field looks tough. it's a pitch. get way more into what you're into when you stream on the xfinity 10g network. shery: live pictures of the skyline in gaza as conflict continues between israel and hamas. israel officially declared war against hamas for its surprise attack. more than 1000 people have already been killed. the palestinians are holding tends of israeli hostages and they say they won't be freed until all islamic jihad prisoners in israel are freed. more than 700 people were killed in israel since hamas attacked. the opera

shery: bloomberg's su keenan with the latest on the auto strikes.rogress seen in contract negotiations but we do still have another major strike looming here in the u.s. over 75,000 employees of kaiser permanente are poised to walk off the job wednesday and what could be the largest strike by health care workers in recent u.s. history. employees earlier rally on labor day calling for better pay and adequate staffing. the planned labor action, coming amid a standout year for u.s. work stoppages. our next guest says unions are making significant gains in areas many thought could not be won. joining us as a director of labor education research at cornell university's school of labor relations. why are we seeing these changes now? is it because the labor market is tight or is there a change in how younger generations perceive work? >> i think there is a change ni consciousness -- in consciousness of the workforce right now. they have made huge sacrifices during the recession and covid and they feel corporations either profited hugely during those events

su keenan joins us with the latest.aded into a fourth week of strikes. >> we are in sources tell bloomberg that while gm's latest proposal is indeed a step forward, and may not be enough to end the strike, which is going on for three weeks now, because one of the key things is it ds t surpass what was offered by ford and stellantis. that is what we are hearing. we know all of the three companies had been holding it 20% pay raise. ford in its seventh offer was the only automaker to exceed the 20% offered. sources have told bloomberg in previous reporting that they are hoping to come away from this right with at least 30% pay increase, so that sets up a situation where these offers are on the table. the uaw president shawn fain will hold a facebook live event and will discuss whether the strikers ward in a more intensified mentor. haidi: another sector joining the fray, hospitality workers in vegas coming us right? >> a strike and bring to a standstill 39 hotels, casinos, and resorts. the culinary workers union and barten

paul: bloomberg su keenan. more to come in a moment.bloomberg. ♪ you're probably not easily persuaded to switch mobile providers for your business. but what if we told you it's possible that comcast business mobile can save you up to 75% a year on your wireless bill versus the big three carriers? have we piqued your interest? you can get two unlimited lines for just $30 each a month. there are no term contracts or line activation fees. and you can bring your own device. oh, and all on the most reliable 5g mobile network nationwide. wireless that works for you. it's not just possible. so... i know you and george were struggling it's happening. 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 the lowest step-ins of any walk-in bath for easy entry and exit. it features textured surfaces, convenient handrails for more stability, and a

su keenan joins us.ation obviously in geopolitical tension even as the same time as we are seeing oil prices decline in the asian session. su: it is a new phase of work, so you have an escalation of the risks. you have the war premium starting to fade. traders reassessing our oil will be affected, and at this point there is been no disruption in the supply of oil. if you look at the chart, note the drop in asian trading, but also the fact we saw nymex surge almost 3% on friday as israel announced that they were stepping up their groundwork, and that it would be a long war against hamas. you saw the same pattern with brent spiking on friday and pulling back on asian trading, and volatility again has really been the biggest risk of this war. we have seen oil all over the map release since the start almost three weeks ago. over the weekend both washington and tehran warned the conflict could spread, and that is the number one concern that it spreads beyond the current region and pools and other countries by

bloomberg's su keenan joins us live. there is at least one agency setting the alarm.reme climate and weather is not being priced in, and that could lead both credit issuers and investors to facing far bigger losses down the road. when you look at the extreme weather in the past year, those fires tearing apart throughout greece, the devastating fires in maui that took out the part of hawaii. flooding and typhoons, extreme heat snowstorms, it makes sense why there is such concern because there is starting to be a growing realization that the real estate market is directly affected by this. at the extreme weather is not being reflected in the bond ratings. this is one reason the head of sustainable next income at federated homes, for instance, is underweight realistic credit. neuberger berman, they are increasingly looking at whether issues, whether they have an ethical to deal with the fallout of climate change. barclays says the risk of being mispriced across sovereign bond market and that will ultimately trigger downgrades. there are a lot of concerns here. bottom lin

su keenan joins us with the latest.ne analyst saying the venezuelan deal where we were basically lifting some sanctions on oil, gold, and other commodities, calling that a band-aid solution. su: yeah, because the question is how quickly venezuela would be able to ramp up its production. it could be many months. caps off set the overriding concern. let's drop in to the bloomberg to see how it is playing out. there could be a bigger disruption in the oil market more immediately because of the conflict we are seeing. this was a volatile session in new york trading where we saw west texas intermediate swing at a three dollar range. it was up 2.5%, down 2%. as we just heard in the market, that was -- there was briefly a risk off sentiment in the market, but risk on has been the overriding sentiment because of these concerns. we are seeing new york crude continue to catch a bit, now above $90 a barrel. analysts are estimating the venezuelan deal could indeed help. it is a suspension of some restrictions that the u.s. has had

su keenan joins us now with the latest.re were three banks, including citi, and their results were pretty strong. su: about as strong as you can get. they were up 34%. yet, the warnings were across-the-board about the fed, about bad loans, about the war that is going on. wells fargo, citi and jp morgan saw combined profit rise 30 billion, but they rode off nearly $4 billion in loans, nearly double the amount of charge-offs recorded a year ago. jp morgan ceo jimmy dimon was out front sounding the alarm, saying this is, quote, "the most dangerous time for the world in decades," citing caution is needed given the wars, the soaring debt, and the fed. quote, "while we hope for the best, we are preparing for a broad range of outcomes." jp morgan posted another quarter of record net interest income in joint wells fargo in lifting its forecast for revenue. citi had the best third quarter in at least eight years, driving revenue past analyst expectations. but we had citigroup also giving details on its most aggressive restructuring

. >> reporter: jim keenan said he was speaking to friends in the water when a shark came up. >> he supposedly him by the neck, brought him down and that was the last we saw. two other guys rushed out of the water, turned around and saw blood and some commotion. no felix and that was it. >> reporter: his friends are devastated. they say felix was training to compete in the 2024 olympics for his native country, gambia. they say his passion for his sports and his energy he shared with everyone he knew was unmatched. >> i will remember the passion he had for life. i saw it every moment that i was around him and i think that is something that i definitely strive to do more of. >> reporter: in san francisco, jody hernandez, nbc bay area news. >> elon musk is facing a new lawsuit. since he bought twitter, the deal is being investigated. it says they called on must to testify last month but he did not show up. now the commission is taking legal action to get him into the courtroom. musk's lawyers said he artie testified and this is harassment. s.e.c. says this is still ongoing and they have not found

su keenan joins us now with the latest, what was the issue? is nothing like using the word uncertainty and volatility in your outlook and big spending ahead to throw cold water on a rally based on eight third-quarter beat but that is what happened here. metas cfo killed hopes of long-term recovery saying quote we are subject to volatility in the macro landscape. the revenue outlook for 2024 is uncertain. the shares which have been rallying in extended trading initially up more than four or 5% slid more than 3% as execs talked about macro concerns. that is results appeared to have shown a nice recovery from the strugglers -- struggles in its ad business. third-quarter sales of more than 34 billion handily beating the street, they also reached 2.09 daily active users on the flagship facebook app. meta-with big spending ahead has been working to convince investors that it is doing a good job balancing it spending in future tech like ai and vr while ensuring its core ad business is growing. and after posting its first revenue decline last year the

for more let's go to su keenan.first time he has faced questions under cross-examination. su: and accused of years long fraud in which billions of dollars were lost at the ftx exchange. this was his third day at the stand, the first before the judge, the second last week before his own attorney. and now he was in the hot seat under cross-examination by the assistant district attorney. and she leaned into him in many ways after last week he got his message across. he may have made mistakes but did not defraud customers. she asked if he believed there was a hole on customers after the crash. he said he always believed there was the risk of a hole and later explained the difference. but these were the kind of evasive questions he answered. the key takeaways without the prosecution prevented overwhelming evidence, emails, texts, tweets, former testimony to congress, and pr statements by sam bankman-fried, all containing assurances that the ftx exchange was safe. bankman-fried said he could not recall what he said in the

paul: bloomberg's su keenan.the chief economist of bhp on the outlook for the critical minerals market and the role in asia's energy transformation journey. this is bloomberg. ♪ i made that. with your very own online store. i sold that. and you can manage it all ince. i built this. and it was easy, with a partner that puts you first. godaddy. you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh the chase ink business premier card is made for people like sam, who make- everyday products, designed smarter. like a smart coffee grinder, that orders fresh beans for you. oh, genius! for more breakthroughs like that- i need a breakthrough card. like ours! with 2.5% cash back on purchases of $5,000 or more. plus unlimited 2% cash back on all other purchases. and with greater spending potential, sam can keep making smart ideas- a brilliant reality! the ink business premier card from chase for business. make more of what's yours. shery: australia is becoming the world's most volat

a boy named keenan is brought to the entrance of the hospital, his body has literally just been pulledhim to the backyard of the hospital. hamas are the new nazis. hamas is isis. in in some cases even worse than isis. and just as the world united to defeat the nazis, just as the world united to defeat the nazis. must unite with israel to defeat hamas. after we received a report of an attack on a hospital in the gaza strip , an unpleasant incident also occurred with chancellor scholz. after he completed his visit to israel and was about to leave for egypt, tel aviv airport was attacked by rockets. everything happened quickly, an air raid alert, everyone ran out of the plane and lay down on the ground. for the german chancellor, this trip did not turn out in the most wonderful way. the delegation of german chancellor olaf scholz , before taking off from tel aviv to cairo, was forced to urgently leave the plane due to a missile alarm; passengers were ordered to lie down on the ground right on the airfield. welt deputy editor-in-chief robin alexander, who was flying with chancellor scholz

haidi: su keenan.ell, on top of earnings in the escalating geopolitical risks, markets are sifting through the latest comments from the fed for clues on where rates are headed. one person says it's still too early to say that more hikes are needed. >> we are looking carefully at the dated to see whether the real side of the economy begins to cool off or whether prices on the nominal side of the economy heat up. as of today, it is too soon to tell. consequently, we can wait, watch, and see how the economy evolves before making definitive moves on the path of the policy rate. haidi: our next guest says a u.s. recession looks far away and there is no need for the fed to aggressively raise rates. the senior portfolio manager for multi-asset solutions at all spring global investments is with us. great to have you with us, as always. it feels like you could not get a more uncertain set of circumstances facing global markets at the moment. when you look at the inflation picture, how much of a risk are energy

paul: bloomberg's su keenan there, we are talking batteries and so-called critical minerals are becoming as the world starts to change how it produces and uses energy. we spoke to one company that is looking to recycling rather than mining to provide a cleaner, greener alternative. >> think about all the cell phones that we have. everybody tends to get a new phone every one to two years and then you think about an electric vehicle. it is a much larger form of electronic waste, what do we do with them at end of life? every piece of clean technology it starts with clean up minerals like cobalt, nickel. we need more of those metals to transition in the timeframe we want to transition and need to in order to move away from fossil to hit our climate goals. to do that we need a better way to refine these critical minerals and we need to figure out that waste management solution so that we do not have massive landfills of these electronic components. >> the world is changing its entire system for producing energy attempting to replace the whole base of the economy and with that has come a growi

david: su keenan -- rishaad: su keenan for us.e are going to take a look at what has been happening during the golden week holiday. spending and travel, the spending undershot expectations. what's more are sure on policymakers to do something. our a ship managing stocks editor. it was much higher than last year at the end of the day but weaker than anticipated. why? >> traders are going into china's reopen hoping the boom in spending data could offset the route we saw in the past week. as you said, the spending data for the past eight days turned out to be somewhat disappointing. there were just marginally better than the 2019 pre-pandemic level and that is sort of weighing on the sentiment today. in the csi 300 most of the decliners or the biggest decliners are the leisure and travel stocks. last time i checked china duty-free was down 4%. all the cinema operators and hotel makers are not doing well either. . that has added to pessimism for market watchers to say that chinese consumption which is the biggest component of china's

. >> all right, keenan, thank you for that. coming up shortly, much more on what matthew perry shared with diane sawyer on his battle with addiction and also his desire to use his personal pain to help others. >> yeah, i'm still trying to help others. you know, this book that's why he came out with it. he told our diane sawyer he was on good morning america. just it's a it's a hard loss to stomach. >> it's tragic. one more on that coming up. also coming up, just a day before halloween, can you believe it? where it's looking a lot more like christmas and where halloween celebrations are already getting off to a deadly start. >> you're watching world news now i got this $1,000 camera for only $41 on dealdash. dealdash.com, online auctions since 2009. this playstation 5 sold for only 50 cents. this ipad pro sold for less than $34. and this nintendo switch, sold for less than $20. deals like these, and many more, happen in the thousands of daily auctions on dealdash.com. all auctions start at $0, and remember, everything must go. i

. >> reporter: jim keenan told them the man said felix was talking to two buddies in the water when thegrabbed felix by the neck, brought him down, and that was the last they saw. two other guys rushed out of the water, turned around, and they saw blood and some commotion in the water. but no felix, and that was it. >> reporter: his friends are devastated. they say felix was training to compete in the 2024 olympics for his native country, gambia. they say his passion for the sport and the energy he shared with everyone he knew was unmatched. >> i will remember just kind of the passion that he had for life. i saw it every moment that i was around him, and i think that's something that i definitely strive to do more of. >> reporter: in san francisco, jodi hernandez, nbc bay area news. >> that smile lights up a room. thank you, jodi. >>> let's move on now. the wnba is coming to the bay area. the longtime rumors now confirmed. >> i just want to welcome the wnba to the bay area. looking forward to having y'all. can't wait to see you'll thrive at the highest level. let's get it. >> now, that'

and keenan allen, the chargers were up 24-7 at the half.r raiders first round pick, khalil mack had himself a day. here is the third quarter. he had six sacks in the game. just the third player to ever do that. less than three minutes to play, vegas trailing 24-17. but on first and goal, o'connell, he's picked off at the goal line by samuel. the rookie's third turnover of the game. chargers ran up the clock. won it 24-17. raiders lost their third straight to drop to a record of 1-3. >>> the final day of the ryder cup from rome. america needed a miracle. max homa with this putt to win the match, but kept u.s.a. within the hunt. but in the end, it wasn't enough. tommy fleetwood needed two putts here to clinch the cup for the europeans. and it was just close enough to be conceded. fleetwood celebrated as the europeans. they knew they were going to win. yeah, you think they like that? team europe won it. it's their seventh victory in a row on home turf as the americans will have to wait for beth paige black in 2025. >>> all you golf fans out th

. >> reporter: jen keenan said the man told them felix was talking to two buddies in the water when the shark hit. such a short came up and grabbed him by the neck supposedly and brought him down. that was the last they saw. two other guys rushed out of the water and turned around and they saw blood and commotion in the water. no felix and that was it. >> reporter: his friends are devastated. they say felix was training to compete in the 2024 olympics for his native country of gambia. they say his passion for the sport and his energy that he shared with everyone he knew was unmatched. >> i will remember the passion that he had for life. i saw it every moment that i was around him. i think that is something i deafly strive to do more of >> reporter: in san francisco, jodi hernandez, nbc bay area news. tonight, the state is moving to revoke the license of the san jose daycare where 21- year-olds tragically drowned in swimming pool on monday. hilda gutierrez has been looking into the daycare she joins us now with what is new and what she has learned. >> the department of social services ha

a boy named keenan is brought to the entrance of the hospital, his body literally just pulled out from the rubble. the doctor is looking for signs of life, but alas, the seven-year-old boy is dead. they carry him to the backyard of the hospital. this blow is a seismic event in the war that can spread to any direction in the middle east. against this background, palestinian president mahmoud abas canceled a meeting with the us president, who arrived in israel to try to ease the situation. the palestinian people, who will now find themselves in an even greater crisis. erdogan accused israel of losing quotes about the most basic human values ​​and called on the international community to take action to stop the unprecedented cruelty. immediately after erdogan's statement, the israeli national security council called on absolutely all israelis to immediately leave turkey. the same request was made for israelis living in morocco and algeria. in jordan, look, protesters they set fire to the death of america, and the protesters also demanded a declaration of war from the united states. shooti

it was, was my colleague, thomas keenan and we wrote a book called mingle, it's called the birth of forensic aesthetics. what's the relationship forensics and the statics for us, it was the reading of the process by which the attempt to identify whether that skeleton that was found under wrong. the mark ray in brazil was that off notorious. not see war criminal murder. dr. file schmidt's joseph main color, found his car. they didn't have dna yet, and they started reading the scuffle traces. in fact, what was interesting is that we discovered that for forensic contra apologise, they were reading bones like they were photographed, exposed to life, like in negative is exposed to light. right? so nutrition and wounds and everything else with kind of be inscribed and this call itself has emerged as a kind of as a surface of inscription. and it kind of showed, with looking at the entire process, it made me understand that the forensic process that happens in court is actually to rhetorical process, mature tauriel nations. you need to show an object to an audience you need to make claim to that obj

tv writerjoe keenan said... among other tributes, this from singer adele. chandler impression. and he would do it all the time to make us laugh. and if any of us were having a bad day orfeeling low, he would just pretend to be chandler. and i remember that character for the rest of my life. and this from charlie puth in melbourne. # i'll be there for you. # when the rain starts to fall. # i'll be there for you. # like i've been there before. # i'll be there for you. fans laid flowers outside his home, where the star died, and spoke about how they will remember him. i know he didn't want to be remembered as the friend — the show from friends — but it's impossible, how could you not? he was friends. and so many people who followed his career will feel the same. it is the role that millions love him for, and how they will remember him, too. no end in sight to the turbulent conditions we have been experiencing for the last few weeks and this week we have got another named storm with us, rattling in wednesday night into thursday, widespread heavy rainfall unwelc

we will take a deeper dive into the latest tech earnings with su keenan. let's start with amazon. a lot to unpack here. >> a mixed quarter. >> there is talk about ai, shares moving up once again. quickly, to recap, amazon reported sales that beat estimates. revenue and profit including on web sales. cloud revenue came in slightly less than expected. that disappointed investors. the business operating income of 6.9 billion was about 1.3 billion more than expected. that was a win there. they reported the highest operating margins. that is a big positive. spending on sales has declined and he says amazon web service signed new deals with customers in september. they had in october affected. they did not relish up on the third quarter results. he also urged caution. they can be lumpy and inconsistent. he is also talking as the call gets further underway, telling investors generative ai is worth tens of billions of dollars for amazon web services. he is touting amazon's artificial intelligence strategy which he says the company is developing on large language models. that is something

margaret keenan was the first person in the world to get a covid—19 vaccine as part of a mass immunisationr pfizer or moderna. their invention can be traced back to the work of drew weissman and katalin kariko. the pair met while queuing to use a university photocopier back in the 1990s. decades later, their work would change the course of the pandemic. but at the time, mrna was considered a scientific backwater. we couldn't get funding, we couldn't get publications, we couldn't get, really, people to notice mrna as something interesting. it was at 3:40 or something, very early, and my husband picked up the phone... but after decades of perseverance, this morning they got the call saying they'd won the most prestigious award in science. ..said that me and drew weissman received the nobel prize today. and i was like, i didn't know whether it is real, you know. vaccines prepare the body to fight infection. many use a dead or weakened version of a virus or bacterium to train our immune system. mrna vaccines are completely different. the starting point is a tiny fragment of the genetic code of

su keenan joins us with the latest. but let's start with goldman best -- goldman sachs and bank of america. >> we expect them to mirror the results from the trio of banks that reported friday. while at j.p. morgan, city and wells fargo had a good day friday and the shares were up and they reported a record third quarter profits, they rode $4 billion in bad loans, double the amount of a year ago. bad loans is something analysts are focused on as we wait for goldman and bank of america which report before the opening bell and morgan stanley midweek. for goldman, analysts say they report at the market open one week after announcing an agreement to sell a lending platform. they sold it as a loss, part of the unwinding in the four-way into consumer banking. that will dent third-quarter earnings. it was a $60 million hit. and we will see how the tracing -- trading business fared. trading numbers are up compared to one year ago, declines seen across the board except for citibank. and there are predictions that goldman on tradi

su keenan has the latest. we might be nearing an end? su: this began september 15. all three automakers and it appears that gm has agreed to a contract deal. it includes a 25% hourly pay raise plus cost-of-living allowances april 2028 and the agreement brings additional workers into the mix including those at the sales venture making electric vehicle batteries. the terms are similar to those with ford that increased pressure on gm. team members of the union must still approve gm, 46,000 union members. uaw says it paves the way for a just transition and wins record gains. they were going for 30% wage increases by 25 is what they agreed on. gm employees will return to work , the striking workers from a couple of days ago. they've taken their pickets down while the process is ongoing. gm was the last to reach an agreement so joe biden has hailed the deal as quote another piece of good economic news and he reiterates how important the workers are in our economy. david: as we close one chapter i can't help but think if you go beyond the big three, they tried -- my unders

su keenan joins us. the three banks that kicked off the earnings friday saw profits soaring 34%.hird quarter in history. why are they worried? >> in the forward, what they see down the road. the increase in capital requirements, bad loans, the fallout from war. jp morgan, wells fargo and a city had a combined profit increase but they wrote off nearly $4 billion in bad loans, roughly double that a year ago. jp morgan sounded the alarm saying this is the world in decades and caution is needed. jp morgan posted another quarter of record net interest income enjoyed wells fargo with similar results and boosting the full year forecast for such revenue so things are not that bad yet. citi had their third best quarter in at least eight years, driving firm wide revenue past expectations and it was pivotal for them. they recently announced a major restructure, the most aggressive in two decades. yvonne: we have more coming up. what do we expect this week? >> it bodes well for investment banks. goldman, morgan stanley, bank of america all set to report and goldman is expected to wrap up the

haidi: su keenan.ou can get a roundup of the stories you need to know and get your day going in today's in addition of "bloomberg daybreak asia." . vonnie: go to dayb . it's also available on mobile in the bloomberg anywhere app and you can subscribe and customize your settings so you only get news on the industries and assets you care about. this is bloomberg. ♪ one wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ vonnie: taking a look at how currencies are trading at the beginnin you want to be able to provide your child with the tools or resources they need. with reliable internet at home, through the internet essentials program, the world opened up. fellas, fellas. that's how my son was able to find the hidden genius project. we wanted to give y'all the necessary skills to compete with the future. kevin's now part of this next generation of young people who fe

let's get more from su keenan. what do we know about this proposal?s the seventh and in the view afforded the strongest and it offers record pay and benefits. the ceo says it is an offer costly for the company but ford believes itonit believes will allow for the future and a future it can invest in and grow. it bogincreases for permanent workers 20% and increases benefits lunches contributions to 401(k), vacation, and income insurance or what is called layoff protection, meaning no job losses dueectrc battery plans. the whole ev issue is a serious one for the union and includes a reference to new product commitments. now the devil may be in the details. the ceo jim farley criticized the uaw as the one to determine the way it runs battery plants not even built yet, but in the latest proposal forward appears to be making concessions or easing concerns in this regard and says it remains open to the possibility of working with the union on future ev battery plants but these are multibillion-dollar investments that must operate at competitive and sustainab

for more, su keenan joins me. start with goldman sachs, what happened?> it's a tale of two different sets of results. goldman sachs suffered its eighth straight quarterly decline as the ceo asked for patients as he tries to turn his strategy around retreating from the ill-fated foray into consumer banking. the big hits resulted from real estate and continued dealmaking slump. an additional $358 million loss in impairments, all of that contributing to a 3% drop in profits. one bright spot was trading revenue which came in flat yet it beat expectations of a much bigger 13% drop. that helped soften the blow. ceo says the firm continues to be very optimistic about the goal of returning meaningful higher returns to shareholders. firms return of equity is still well below the target. again, goldman share price is down 25% since its record high late 2021 and it is on track for a second straight annual decline. this is what the ceo has been dealing with. the poor performance of late in the stock has put a lot of pressure on his efforts. the bank looking to move

haidi: su keenan there watching banks in the u.s. setting the stage for what will be a big week of earnings in asia. joining us is breaking news editor felix. let's start off the earnings focused when it comes to indian markets. felix: india is the focus next week but earlier this year we saw the central bank requiring lenders to set aside more capital in order to drain liquidities in the system and maintain their price. but overall preliminary data shows credit growth in india remains strong. just -- bank is going to report earnings today. we may see second quarter profit jump by a third, not to mention -- finance and indusind bank we are expecting to see more than a 20% jump in profits as well. shery: we have already seen samsung's profits sliding but that plunge is really slowing this quarter. it looks like its chip division is doing better we might get more indications coming from another big semi giant this week from asia? felix: yes so they are going to report final numbers later this week. so we are expecting this quarter they

bloomberg's su keenan has more on this.e starting to see a little bit of a rebound in the ipo market. what will this mean for the broader industry? >> to answer the question of how bad was this first they drop for birkenstock, out of more than 300 u.s. ipos in the last century, there have only been 13 that fared worse. this was the worst in the past two years. birkenstock is the german maker of those $130 leather sandals, popular among all ages, and it is an ipo that was the fourth big one in the u.s. market in a month, priced at the midpoint. -- the offering, priced at the midpoint. however, the shares plunged in the first day of trading, closing near the low of the day, as you see, more than 12.5 -- down more than 12.5%. this comes after the biggest month of ipos, softbank backed arm, and grocery delivery startup instacart, which is down almost 17% were among those ipo's. so it is a pretty mixed performance by those three that have now sharpened the market's focus. the birkenstock ipo has long been in the planning pure wo

su keenan joins us now with the latest. where are we at in the negotiations? negotiations are ongoing, this latest offer is interesting, because a source tells bloomberg that it is a step forward. it appears to represent progress, but it might not be enough to break from the impasse that has taken the strike into three weeks we are coming up on. the new progress -- package is said to make progress on key issues, and they are ready to willing -- and willing to negotiate in good faith 24/7 to reach an agreement. in other words, they would like to resolve this very quickly. while gm's proposal is a step forward, our source says that it may not be enough to resolve things and it really does not surpass what was offered by the rival fort and stelantis. general motors fel to a three year low, not only on the strike, but also on the report of a possible recall on its airbags. the uaw president will hold a facebook live event friday to discuss whether he will expand the strike on all three plants. we do know that the strike -- from someone close to the negotiations, t

let's bring in su keenan.re is not an immediate that the supplies, but after the worst weekly loss since march for oil prices, it adds to the volatility. >> we saw oil pill -- pullback in a big way, brent being close to the $100 mark in london trading, and surging forward. we see gains hold in asian trading so far. let's drop into the bloomberg, because the renewed instability has added what many traders call a war premium to brent, which has been trading between 88 and 89. again, edging back higher, once again. take a look at the amount of oil that comes out of the middle east and you will see why there is a concern and why traders are focused on what is called the straight of hormuz, where 17 million barrels of oil a day or transfer. the fact that iran has control of that is concerning at this point. let's listen to the head of global commodities research at morris about how things have been working so far. >> expenditure at five and 10%, less than a 5% jump, and even if we look back a couple of weeks, price

for more on the oil and gas markets, let's bring in su keenan.ed about how this conflict doesn't necessary -- necessarily threatens supplies immediately but is added volatility in the market this year. su: oil has been on a wild ride. it had slowed down midyear and took off in a dramatic rally right up until two weeks ago and then declined again on concerns about macro issues and demand. once again, let's drop into the bloomberg. we are seeing brent in particular surge higher in what some are calling a war premium or clear risk premium. take a look at how much oil comes out of the mideast. concerns about dislike -- supply disruption. the concern is if iran is drawn into this conflict in a major way, they could retaliate by stopping the flow of oil. many do not consider that to be an issue at this point. look at the today --two day chart. it has really held in the same with brent. natural gas is a concern as iran has ordered the closure of a field out of security concerns. shery: will the flows continue out of iran uninterrupted? su: there's light

su keenan joins us.re was a lot of technical selling as well, both below their 50 day moving averages. did the rally look a little overdone? su: there were signs we were in for correction. a number of factors are weighing on oil. the 50 day moving average we have seen oil prices come back in line with the latest decline. bottom line the rally has cooled. there is an old sailing in the oil pit that the cure for high prices is high prices. demand disruption has begun one prominent analyst says. that means fuel costs have squeezed consumers in a way that demand rather abruptly. three of let's look at the five-day charts for west texas intermediate and brent to get an idea of how abrupt halt in the rally has been. we saw west texas intermediate in new york trading a drop of one over 5.5%. closing the day down 5.6% to below $85. in brent trading in london a similar selloff. down 5.4% by the end of the day to close right below $86 per barrel. again, this is a dramatic reversal of a rally that has seen oil rise

one thing that came up into dave's hearings was that barrister hugo keenan also questioned martin reynoldsn't. on on your crucial whatsapp groups? no, idon't. i on on your crucial whatsapp groups? no, i don't. i don't use whatsapp muchi _ no, i don't. i don't use whatsapp much, i_ no, i don't. i don't use whatsapp much, i haven't used it much in years— much, i haven't used it much in years gone _ much, i haven't used it much in years gone by. but the question people — years gone by. but the question people ask is, where on earth is the sense _ people ask is, where on earth is the sense that _ people ask is, where on earth is the sense that some people had in government? of course it made no sense _ government? of course it made no sense to _ government? of course it made no sense to hold a party in the middle of covid _ sense to hold a party in the middle of covid. why would anyone think that was— of covid. why would anyone think that was in— of covid. why would anyone think that was in any way defensible? and i that was in any way defensible? and i have _ that was in any way defensible? a

justin herbert, the former cal bear, keenan allen and the chargers were up 24-7 at the half. former raider first round pick, khalil mack, had himself a day against his former team. here is the third quarter, mack sack of o'connell. mack had six sacks in the game. just the third player to ever do that. less than three minutes to play. vegas trailing 24-17. but on first and goal, o'connell's pass is picked off. picked off at the goal line by samuel. rookie's third turnover of the game as the chargers ran out the clock winning it 24-17. the raiders lost their third straight game and dropped their record to 1-3. >>> all right, the final day of the ryder cup from rome. america needed a miracle down five points. cal bear max homa had this putt left to win this match and keep the u.s.a. in it. but in the end, it wasn't enough. tommy fleetwood just needed a two putt from here to clinch the cup for the europeans. and look at how they celebrate. yeah, yeah, yeah, you feel it. but look at this. now that's a celebration. as the europeans, yeah, they win it. their seventh victory in a row