y is mario draghi suddenly decided he is concerned about inflation? hink draghi is keeping a close eye on the oil price. there are various sectors going on, the u.s. shell producers and because europe is a big importer of oil, that will have an impact. matt: where do you see the growth situation panning out? just last month at the e.c.b. in frankfurt, the central bank was lowering its expectations for growth. you can't really raise rates into slowing growth, can you? >> no. and the key thing is too the emerging markets. that's what we have to keep a close eye on. they are feeling the pressure on the terrible trio. rising rates in the u.s. rising oil price and of course a ery strong dollar. anna: it is one of the things we saw as a result of draghi's comments. a prolonged new narrative from the e.c.b. if we saw a stronger euro might this be good for emerging markets? >> yes, that would be good for emerging markets. the dollar seems to be on a tear and i can't see it changing any time soon. investors are moving from the u.s. it is seen as a defense marke

mario draghi taking a seat at the press conference. his statement, and then there will be a q&a. you,nt to break cpi for which is about 20 seconds away. a downside surprise for ppf. -- ppi. after those numbers, we will take you to the press conference. reinvestment will be key, as well as macro factors, and what they make of italy and the new government. yields have been inching a little bit higher. back out year on year, food and energy, still similar to the ppi. a miss.2.2%, eking out a gain if you back out food and an energy, .1%. david: less than what we expected. alix: the dollar index now flat on the day. you can see that steep decline. this matches with what you and bob are talking about, that we will not get the pickup in inflation that we necessarily thought. how much of this is restorative and how much of it is real lack of stickiness for an overshoot? >> trade feeds into ppi but not cpi so much. if anything, trade would push it up. not surprised about one-off factors. cell phone replacing. those things of pushed it up. not s

i wonder there is an ecb in the under market and all mario draghi has to do is open his mouth and we will see a significant shift. thing toe important remember is that mr. draghi had prepared remarks. he knew what he was saying. communication is the number one responsibility of central bankers. i think he just got a little off message and they had to trace it back today. alix: we will see if the fed has any at the end of the day. thank you so much. we will have complete coverage of jerome powell's conference tomorrow at 2:00 p.m. in new york. breaking news, michael corset is now official -- cour david: it is going to be renamed. kors i wonder what michael thinks about that. he does say it will be diluted in fiscal 2020. long-term implications feel there may not be in a luxury brands left. david: i don't know this industry, but it feels like a brand play. versailles g- versailles t is big. alix: more in central -- versachi is big. you can find all of the charts we just used on your terminal. you can scroll through and save it. this is bloomberg. ♪ >> this is "bloomberg daybreak ago buy

let me ask about mario draghi. lower his growth while saying everything is cool, do not worry. will have quantitative easing and raise rates at the end of summer next year. how hard will that be? the big worry for us is the weakness we have seen in the european numbers started before a want of the trade headlines. draghi haves mario to explain why there was a negative impact on european business, but he will also have to explain why europe is losing momentum already. a wide -- is such wise idea to withdraw stimulus at that point in time. i want to ask you about the italian story. there are reports around would stay or go. we see this weighing on italian stocks. market. fairly flat are you concerned? is this important to the entirely in budget -- italian budget? are a number of investors out there who view being aernment as mixture of populist and technocrats -- populists and technocrats. salvini need to fulfill their electoral promises. of those technocrats would be a concern for the market. they are struggling to

mario draghi talks about significantly stronger core inflation, where does it come from? >> it comes from easy monetary policy. easy monetary policy help strengthen labor markets over time. ward pressure on inflation measures. looks like inflationary pressure is building. similar to the u.s., we got a downside surprise which does indicate downward revised expectations for core pce numbers coming up. but in general, inflationary pressures have been building. arething that policy makers watching, but broadly, central banks and developed a market central banks still believe they have time on their hands where they removed policy gradually, they do not have to push harder against the rising inflation. >> what is your level of confidence then, but with the turkish central bank, the fact that they did to raise more than expected? are you somewhat reassured that they are operating in consequently? are concerned about is that typically with e.m., you do not lump all countries together. every country has their idiosyncratic story, but when you have the pressure is that we have see

president mario draghi his comments were considered the turning point in the crisis the e.c.b. is ready to do whatever it takes to preserve the euro. and believe me it will be enough the european central bank began buying government bonds from struggling e.u. countries especially from southern europe those countries went heavily into debt to save their own banks and were then under threat themselves the financial crisis was about to engulf the whole state the e.c.b. financed entire countries it was a highly controversial measure but it worked collapse was averted but the problem of rising european debt still hasn't been solved. so let's talk a little bit about that's i'm joined now by marcus miller from the u. . of us city cents a gallon in switzerland but today you're here in berlin good to have you with us we just heard again those famous words by easy behead dr g. these b. will do whatever it takes to save the euro and it will be enough was it enough yes it was enough and it was probably one of the best sentences ever in monetary policy history so darkie did a perfect job to

manus made the point this was mario draghi want two-way risk into the bund market.p five basis points yesterday. we now stand at 52 basis points. are we going to see that treasury-bund spread tighten? >> possibly. i think the outlook is upward. we have stayed above 3% in the u.s. longer than we did back in may. the swiss government bond yield is positive after -- and it has been for a week. it may well be that the spread narrows a little bit. i think the direction of change in bond yields probably continues to gently be upwards. i do not think that is necessarily a bad thing either. but it is about time. to get a are going couple of central banks in the emerging markets with rate decisions this week. on the equity side, the pieces of news we have been trying to together is on buybacks. glencore announces they're going to add $1 billion of additional buyback. this is nasdaq. it is just a frame for the discussion of buybacks. buybacks have been driving the u.s. market. buybacks are part of the metals and miners. this is incredibly important for the market in terms of

h forwould be toug mario draghi to pull off.s you do when the economy is getting worse. what they want to do is do -- when theyou do economy is getting better. they want him to prepare the path for finally raising interest rates to back to normal. what they will have to do today is explained to global wall street why they are cutting their growth forecasts and at the same time remaining hawkish on the economy, which doesn't really make much sense. those two things don't really go together. anna: we will see how they are in the same breath -- will in the same breath lower the outlook but then go on to talk about higher rates and normalizing interest rates. it is see -- italy still a big issue. it's back with a vengeance today. lots of reports today. is this something that is going to be part of the conversation in front for? matt: it will be -- frankfurt? matt: it will be one side of the conversation and journalists will undoubtedly ask questions about it. it's unlikely mario draghi what answer questions, -- will answer questions

rally when mario draghi predicted a pickup in underlying inflation. ahead to the fed meeting this week. japan coming back on holidays, well. topics, extending gains, at the highest levels since may. york, sydney and hong kong, this is bloomberg. ♪ haidi: it is 830 in the morning from hong kong. we are an hour from trading. have hong kong markets closed festival. of the markets up .1% when it to asian markets. topix,eeing gains in the flat. 225 trading and lots to look ahead with a number of central bank decisions asia to look ahead to. marketwe'll see if sentiment switches in asia. we have u.s. markets closing and but it's been interesting that despite falls in the u.s., sometimes we see a in asian hours. with jessica.news jumped after mario draghi said he saw pickup in the bank and signaled remains on track to raise rates next year. europeanld the showament that projections shows an improvement in fundamental price pressures. >> measures of underlying remain generally muted but have been increasing from as domestic price pressures are broadening. inf

time following president mario draghi's news conference 45 minutes later.l apple's iphone launches pay off? they lacked major dances but may appeal to more users. analysts have praised the apple pricing strategy. emily chang reports from silicon valley. italy: a big day at apple headquarters in cupertino. hundreds of apple fans pouring into the theater from around the world, excited to see the unveiling of these new iphones. apple did unveil three new iphones, basically a cheaper version and upgrade to the iphone x and a big iphone x. the cheapest one will start at about $750. the middle phone about $1000. at $1100.e starts apple is really betting big on the idea of a family of iphones to reach a variety of customers and a variety of price points. keep in mind they still have the iphone 7 out there retailing in before hundred dollars range. perhaps the biggest news was the -- retailing in the $400 range. the series for watch starting at $399. analysts and investors are excited about the health tracking features. an electric cardiogram on the watch got the t

mario draghi sees relative vigor in week european inflation. we will talk of the euro and bonds and european equities next. nejra: economics, finance, politics, i'm nejra cehic in for francine lacqua in london. let's get the bloomberg business flash. >> the founders of instagram are leaving facebook after growing tensions with the ceo mark zuckerberg over the direction of the app. they have been at the company since instagram's acquisition back in 2012. they have been able to keep the brand and product independent from facebook. were frustrated with it unusual uptick in day-to-day involvement from zuckerberg who is now overreliance on instagram for facebook's growth. its moore will increase share buyback program. they will return more money to investors. this comes less than a week after the number two minor company announced a 3.2 billion share buyback. -- shareholders got most of the $11 billion from the sales of its u.s. shale assets. starbucks is planning and organizational shakeup. chain triese coffee to reverse stagnant sales and rekindle

>> mario draghi caught people's attention with his discussion on inflation.w the euro pick up. not sure, just move the deal as far as ecb expectations. the fed, everyone is expecting a rate hike this week. what a lot of people may be curious about is the idea that the neutral rate can be a little higher in the short term. again, it will be one of those statements where they will parse out every single line and comment at the news conference. right now, the market is pretty -- getting much closer to the fed dot plot and what they expect or the rate for next year. it would be -- have to be a big shock to upset the apple cart. scarlet: thank you mike regan. anthony, talk about the fed and what it would take to surprise investors? jay powell wants to make sure everyone is surprised of what he is thinking. he has said he will be more transparent and open every meeting and everything live next year. what couldn't -- what could surprise investors on wednesday? >> they will raise probably in december. you see in the press today is in market starting to anticipate the

president mario draghi his comments were considered the turning point in the crisis the e.c.b. is ready to do whatever it takes to preserve the euro. and believe me it will be enough the european central bank began buying government bonds from struggling e.u. countries especially from southern europe those countries went heavily into debt to save their own banks and were then under threat themselves the financial crisis was about to engulf whole states the e.c.b. financed entire countries it was a highly controversial measure but it worked collapse was averted but the problem of rising european debt still hasn't been solved. so let's talk a little bit about that's i'm joined now by marcus miller from. the union university cent a gallon in switzerland but today you're here in berlin good to have you with us we just heard again those famous words by easy to behead mario dr g. these b. will do whatever it takes to save the euro and it will be enough wasn't enough yes it was enough and it was probably one of the best sentences ever in monetary policy history so darkie did a perfect

mario draghi recently talked being broadly balanced.he listed a number of threats including emerging markets, protectionism, financial market stability. which of these or any other are looming largest in your mind? that what let me say we have at the moment is the market essentially being roughly balanced in its view of these things. if the risks turn out to be less severe than expected come that could be an upside risk to the growth forecast. for example, if it turns out that the trade tensions fade away, if it turns out that the , on all ofome is ok these fronts, if we get an ok outcome, that is like a passive shock to growth. on the other hand, if those go badly, we have a clear downside risk. we can agree that ultimately the happens tois, if it be a severe trade, will have a negative impact. but whether that is likely is hard to assess. let me emphasize with the emerging markets because i think this has been a big point in the last few weeks. we always knew, everyone always that the tighter monetary regime and as the fed the ghent t

that was mario draghi that changed that. counting it down. here we go.markets shutting up shop for the day. these are the numbers come up ftse 100 down by .3%. exposed to the global story, one eye on that story as it develops, trading down by .6%. down by .4%. mr. rosenstein expected at the white house. europe shutting up shop and that is where we find ourselves. vonnie: we are going to continue to keep an eye on that. let us have a quick look at where u.s. markets are trading. did not see a reaction to the rosenstein news. the dollar is a little softer. it had a few soft sections -- sessions last week. are back down partially thanks to the sterling and the euro. that is the yield curve now. we have the conference coming up with the fomc tomorrow. are back down partially in the u.s., wtirling andcrudee trading close to $73 a barrel. $81. trades close to the commodity index is rebounding and i will show you why. macro movers, commodities such as sugar are having a down day even as hydrocarbons are higher. does not seem to be much forward momentum on the t

big central-bank news from the european central bank, mario draghi says he is confident inflation willeturn to target levels. special coverage of life after lehman continues. we speak to former senator chris dodd. julie: 90 minutes into the trading day. let's take a look at stocks. hanging onto gains but off the highs of the session, considerably. consumer staples weak, led by kroger. energy shares also a drag on the major averages with oil prices trading lower. stocks rebounding. philadelphia semiconductor index had seen a slide over the past sessions, down 67%. losses in six days. very weak as a late. rebounding stocks. outlier tooing, amd, the upside within semis. setting prices are good at highest on the street. qualcomm reinstating overweight at barclays, company starts $16 billion accelerated by back and we have an apple ripple effect in wake of the product announcements. firstapple suppliers, gain in 12 days. apple, representing 30% of revenue. when it comes to amd, outlier. it had four down weeks going back to april. extraordinary, the gains they have had and especially since i

you and mario draghi at the start of this week talked about inflation being relatively vigorous.used a little bit of confusion in the markets as to whether this was a new signal from mario draghi. >> i do not think it is a new signal but people in the markets should listen carefully to what remember, we is, set policy for the forecast of inflation over a medium-term. over that medium-term, the final leg of the journey, a stronger labor market, stronger wage outcomes. as unemployment comes down, as you see more and more countries coming towards a situation where the labor market invites , theger wages and workers final leg of the journey to the inflation target is kicking in. lane.: philip time for the stock of the hour. posting a loss of 34% and taylor riggs book tell us what you -- will tell us why. >> it started down at the beginning of the quarter and never recovered. report, twitter saw a drop of one million monthly active users and that put pressure on the shares and they said those losses were not going to turn around anytime soon as they continue to fight fake accounts and

really do whatever it took as mario draghi promised back then. well i'm sure that you know there are monetary policy whizzes or you know experts that could come up with more innovative idea of ideas of what the european central bank could have done but if we take into consideration that the balance sheet of central bank is now at more than four and a half trillion euros that's forty percent of g.d.p. forty percent of the value created in the countries of the eurozone this is definitely a very bold move and it was enough at least i can say to convince speculators that it makes no sense to speculate on the break up of our currency union our economic with is in frankfurt. businesses reducing or delaying investments in the u.s. it central bank the federal reserve says the trend is due to concerns about washington in beijing's trade war so far the effects of the tariffs have been modest but they've bush had some production costs according to the fed several american companies want the more towers with their businesses off the president don't trump sai

we have seen a bit attached to mario draghi is in brussels talking to parliamentarians and he is sounding quite hawkish. vonnie: he is talking about a relatively vigorous pickup in underlying inflation. we are seeing a movement in bonds as well. bonds are more often some of the core bonds but he's leading the entire story across europe. you also have a question in the market -- are the markets underpricing the risk of early rate hikes through the ecb? you wonder with the fed sounding hawkish potentially as well, the ecb might be picking up the pace. german a big move in the and italian yields. will get budget proposals thursday out of italy. china says it won't talk about resolving the trade war if president trump keeps threatening more tariffs. they reiterated their position $2er the u.s. imposed billion worth of tariffs on chinese goods. we are joined by the head of research strategy at the eurasia group stop we knew this was coming so what next? >> you can expect escalation to be the tenor of this relationship through the end of this year. there was speculation that the two leaders of

speeches from both mario draghi and koroda. with me for some final thoughts is jeffrey rosenberg, krishna memani and noelle corum. for the federal reserve, keep things a look ahead to next week? noelle: we all know they are going to hike most likely. we're watching. we think that the surprise is going to be to the dovish side. december is on the price dan at 70%. we don't think it will come out overly hawkish at this point. we are watching the trade monitoring. its impact on growth. we think they want to see it through to harder data and i could be as early as q4 that we see it -- as early as q4. any talk around full employment, i think it will keep that subtle. they are discussing it. we think they may address it next week. jeffrey: there are four key points. the most important part is, do they change the language describing on a carry policy? if they were to, that would be a big point. second is economic forecast. the longer run forecast for the employment rate. how tord point will be characterize growth. i think we will get

mario draghi also expressed confidence on wage growth. >> another closely watched central bank, the turkish 24%.al bank, take a look at what that did to the turkish lira on the day. a big pop stabilizing slightly below that big gain at the start of the session against the u.s. dollar. that had other emerging-market currencies strengthening. take a look at the emerging market index. we have watched these markets and seen a flow of capital out of them. we saw that reversal. a turnaround here as the bank moves in the direction that startled some because there has been great pressure not to raise rates. uber plans to invest $150 million in a canadian engineering hub and investments in self driving car units. i had a chance to sit down with the ceo and ask what has to happen before that ipo is expected next year. >> 2019 is our target. cfo, it ison a important to have that spot filled. at this point it is all systems go. >> what do you need to show the street? profit, near profit? >> we have to show a path to profitability. there are many different segments. there is a ride segment which is the

speeches from both mario draghi and koruda. round of tariffs set to take affect between the u.s. and china. still with me for some final thoughts is jeffrey rosenberg, krishna memani and noelle corum. for the federal reserve, key things to look ahead to next week? noelle: we all know they are going to hike most likely. we're kind of just watching. basically we think that the surprise is going to be to the dovish side. december is already priced in at 70%. we don't think they will come out overly hawkish at this point. we are watching the trade monitoring. monitoring its impact on growth. we think they want to see it feed through to harder data and it could be as early as q4. also, any talk around full employment. i think they are going to keep that subtle, but it is something they are discussing. we think they may address it next week. jeffrey: there are four key points. the most important part is, do they change the language describing the stance of monetary policy? don't expect it, but if they were to that would be a big poin

italy very much a topic of discussion at this week's ecb briefing with mario draghi, who expressed concernsver the country's new government. >> words have created some damage. and interest rates have gone up for households and for firms. all of this hasn't created much spillover to other euro area countries. it's remained pretty much an italian episode. jonathan: still with me, gershon distenfeld. subadra, how do you think the policy path adjusts over the next 18 months? subadra: we have the ecb meeting this week, and we didn't get a whole lot of specifics on what they are going to do on the policy fund that is new that we didn't already know. they're going to lower the pace of asset purchases in october. they are anticipating to end qe at the end of this year, and normalize policy sometime in the middle of next year. they are telling you, we are aware of what's happening in italy, but it's not really a policy concern as of yet because the rest of europe seems to be doing quite well. jonathan: what we see in european credit is different. stat came from your team that i thought was phenomena

you can follow mario draghi's and 10 seconds faster than the regularly streamed video.ortant for the ecb rate decision tomorrow. on your bloomberg terminal, you get a slightly quicker stream of the audio, i think. mittenook at some of the -- mid-cap movers in this morning's trade. here is dani burger. dani: some positive news sending shares higher. they have been approached by several pe firms and might even consider a possible sale. -- fallingr side, with the rest of the european energy space, almost 3% after a profit warning. finally, the best-performing cup 14% on thes positive news of the study on its rheumatoid arthritis treatment. >> coming up, the former new york fed president joins us for an exclusive interview at 2:00 p.m. u.k. time. you will want to hear that. we will get more from andrew wilson. we will get to ask him what his clients are doing, how much cassis on the sidelines -- caches on the sidelines. this is bloomberg. ♪ anna: welcome back. this is "bloomberg markets: the european open." this is jean-claude juncker speaking in strasburg. matt was so exci

really do whatever it took as mario draghi promised back then. well i'm sure that you know there are monetary policy whizzes or you know experts that could come up with more innovative idea of ideas of what the european central bank could have done but if we take into consideration that the balance sheet of central bank is now at more than four and a half trillion euros that's forty percent of g.d.p. forty percent of the value created in the countries of the eurozone this is definitely a very bold move and it was enough at least i can say to convince speculators that it makes no sense to speculate on the break up of our currency union our economic with is in frankfurt. businesses are reducing or delaying investments in the united states its central bank the federal reserve says the trend is due to concerns about washington and beijing's trade war so if you fix of the tariffs have been modest they've boosted some production costs according to the fed several american companies warned the motown could hurt their businesses after president don't tru

president mario draghi as well as from the head of the international money monetary fund christine legarde. and south korea and the united states have reached an agreement on a revision other two thousand and twelve trade agreement was reached with president obama's administration the renegotiation is one of his trade policy revamps that u.s. president donald trump has pursued acting on his repeated in the in that big at times complaints about poor outcomes from past trade deals and policies the us ran an overall trade deficit abruptly eleven billion dollars with south korea their six largest trading partner in two thousand and seventeen but in goods including cars and metals that seem to capture mr trump's imagination and attention the u.s. ran a deficit of twenty seven billion dollars last year the renewed agreement leaves the vast bulk of the text unchanged from that obama era two thousand and twelve agreement but removes a barrier to export of u.s. cars that do not meet south korean safety emissions standards the updated agreement also extends a twenty five percent u.s. tariff on south

we are hearing from mario draghi right now.e things we just heard from deutsche bank. saying banking union has to be completed and npl's need to be reduced. he wants banking union to cut on npl's. with banking union, you have consolidation. we know deutsche bank, the running,ion sewing is is considering a tie up with commerzbank. so are people in berlin considering that possibility. let's get the thoughts of peter chatwell, head of rate strategy at mizuho. it's interesting in the abstract to talk about banking union, but i can't imagine the european union actually achieving this, because it involves shared responsibility, shared financial responsibility, which states like germany are not likely to take for states like italy. peter: it is a massive stretch. the banking system in europe is still extremely fragmented. you can see that, how the banks lend to each other, there's very little cross border activity within the euro area. the reason why the ecb and others really want banking union is because it would make the financial s

euroove we had in the according to blackrock was more to do with the dollar than mario draghi.king at the dollar and the impact on emerging markets, what is your view in terms of whether this is a buying opportunity in the end in a broadway? >> at the start of the year, emerging markets were overvalued in the equity space. after years of a bull market has been a bear market this year. e.m. has become relatively more attractive. you're going to see the u.s. equity market. broadly across equity markets, valuations are quite stretched. investors can expect lower returns over the next five years or so. you could possibly have a tilt. i do not know there is a substantial amount gain for e.m. over other parts of the equity markets. >> what part of the brought equity market would you prefer to look at? >> europe and the u.k. have been more attractive. for some time we have seen the u.s. market really rallying. partly justified by earnings growth, but also a general expansion. i think the whole of the equity market is somewhat more risk than normal of a bear market in the next several

transactions will be handled in lira. 10 years on since the global financial crisis hit, ecb president mario draghi says there is no room for complacency, calling for stronger galatian to avert another crisis. the bank trimmed its growth forecast while announcing it is set to wind back economic stimulus. government bonds are going to be cut in half to 15 billion euros. these purchases are executed to keep trouble the european economies afloat. but they did leave the key interest rate untouched at the all-time low of 0 -- .0%. so much for the banks. now for a look at stocks and our wall street correspondent sophie scimansky is standing by in new york. how is wall street reacting to apple's latest iphones? sophie: we did see some positive movement of the stock on thursday, but on the day of the event is off, it opened at $220 and that is exactly where it closed. for investors, does not matter how cool the new iphone is and how good the new apple watch looks like, not as much as it matters that these products are going to sell. they are going to pay attention to the next quarterly earnings and to the

considering succeeding either european president john claude juncker or european central bank president mario draghi misled gardens in the middle of her second five year term as head of the i.m.f. . now we turn to the category three hurricane florence which is bearing down on the southeastern u.s. the storm which is expected to make landfall late friday early saturday is currently packing sustained winds of one hundred thirty miles per hour with gusts up to one hundred sixty while some officials seem to be grasping for the words to convey the scale of the threat suffice it to say this is not a drill it's the real deal the storm is already compelled authorities to warn an estimated five point four million residents to evacuate through some lack of although some lack the actual means to do so and they have no other option other than to prepare to shelter in place states of emergency have been declared as far north as maryland and right here in washington d.c. the governors of the states of north and south carolina invoked anti price gouging laws as part of the emergency declarations many store shelves

francine: depending on who replaces mario draghi, does it move on the back of it?at is one person is the environment supported? if it ever had its foot on the gas, in terms of structural reform? francine: any bubbles you are worried about? rick: i think credit is very late cycle. i think we are made more comfortable by credit and the lack of bad news. i think this year credit expansion, all around the world has to be a little bit of concern. francine: what would that mean? the next financial crisis looming or do something you want to keep an eye on? rick: i think the catalyst is inflation or increasing cost pressure leading to reduced margins, and that feeding through the cash flows. then people getting concerned about the most overstretch parts of the high-yield market. that doesn't spell he financial crisis that is a normal credit cycle. . francine: thank you so much. rick will be staying with us. we will be talking about italy, brexit, and of course the institution that is the european commission. this is bloomberg. ♪ kaylee: this is fordmberg surveillance." the

considering succeeding either european president john claude juncker or european central bank president mario draghi missler guard is in the middle of her second five year term as head of the i.m.f. . now we turn to the category three hurricane florence which is bearing down on the southeastern u.s. the storm which is expected to make landfall late friday early saturday is currently packing sustained winds of one hundred thirty miles per hour with gusts up to one hundred sixty while some officials seem to be grasping for the words to convey the scale of the threat suffice it to say this is not a drill it's the real deal the storm has already compelled authorities to warn an estimated five point four million residents to evacuate through some lack of although some lack the actual means to do so and they have no other option other than to prepare to shelter in place states of emergency have been declared as far north as maryland and right here in washington d.c. the governors of the states of north and south carolina. invoked anti price gouging laws as part of the emergency declarations many store she

we have more questions on the ,uccession plan of mario draghi but we are out of time.rmer president of the ecb. we will continue with erik nielsen. maybe his name is on the short list. let's look at em currencies. this is bloomberg. ♪ tom: we welcome you worldwide on september 11. images from the world trade center. magnificent pools. i was privileged to see them the first time with our michael mckee who was at ground zero on september 11. really extraordinary to see them in the early morning of this september 11. still moving. francine: it is still moving. i know they will read out names for the rest of the morning. we will keep a close eye on that as we remember that day that changed all of our lives forever. we are on day two of the financial coverage 10 years on. let's take a look back at a few key days. brothers 15, lehman filed for chapter 11 bankruptcy. barrel -- merrill lynch was taken over by bank of america. the u.s. government took control million -- in an $85 million bailout. ben bernanke and hank paulson testified before the banking committee about the bus

mario draghi at the ecb is expected to offer only slight tweaks of the bank's guidance to stay on coursee interest rates next autumn. 0ne change will be a small downgrading of some of its growth forecasts after a string of weak figures over the summer. likewise, the bank of england is expected to hold fire on any further rate hikes after last month's rises. and samira hussain has the details of what's ahead on wall street today. 0n on thursday a report from the us labor department will likely show the consumer price index went up by 0.3% in august. cpi shows how much prices for goods have gone up or down ina prices for goods have gone up or down in a month. this is core cpi so doesn't include energy and food which are volatile. core cpi is a key indicator of inflation, as such, the us federal reserve will be paying close attention as it weighs its next interest rate hike. joining us now is kathleen brooks, who's a research director at capital index. you have been soaking this up. there isa you have been soaking this up. there is a lot going on, when you arrived this morning you said you

chief mario draghi says there's no room for complacency calling for strong regulation to avert another crisis the bank is trimmed its growth focus today while announcing it's set to wind back economic stimulus from october on words the monthly purchases of government bonds are going to be cut in half to fifteen billion euros exposures as are executed to keep troubled european economies afloat but the e.c.b. did leave its key interest rate untouched at an all time low of zero percent apple shares lead by two point seven percent its latest smartphone line up with the customary fanfare take john says the i phone ten s at its biggest sibling the ten macs fast as i phones ever liquid proof and have the most secure facial authentication technology in the smartphone apple is counting on handsome profits for the ten macs with the company's biggest display so far. i don't feel. like you know the u.s. eastern seaboard is bracing itself for the arrival of hurricane florence the consecrate two storms expected to make naan full late this evening or early tomorrow morning almost two million people f