for bloomberg first word news, we go to mark crumpton. entina, opposition leader alberto fernandez will be the next president. he won 48% of the vote, enough to avoid a runoff. but the outcome was tighter than expected and the party of thancio macri fared better forecast. meanwhile, argentina is slashing the amount of u.s. dollars its citizens may buy. boris johnson is pushing for an early election to resolve the brexit deadline. the house of commons will vote today on his call for a vote in december. earlier, the european union agreed to give the u.k. three-month delay. that will prolong the uncertainty for businesses and citizens but also removes the risk of a damaging no deal exit this thursday. president trump scored one of the biggest successes of his presidency, with the killing of islamic state leader al-baghdadi likely to blunt the impeachment inquiry. today, another slate of witnesses will testify. in california, another wildfire is threatening thousands of homes, this one in los angeles not far from the getty center art museum. t

we turn now to mark crumpton for blumberg first word news. mark: as our emma chandra just reported from london, boris johnson has hit another roadblock in his efforts to get a brexit deal past. the house of commons speaker has rejected the government's bid to try again to win approval in parliament for the exit agreement. the prime minister secured last week in brussels. johnson is now expected to push ahead with fast tracking the legislation as he battles to deliver brexit before the october 31 deadline. turkey is renewing warnings it will resume its military offensive in northeast syria if kurdish fighters do not abide by a u.s. brokered cease-fire and withdraw from the area. turkey has demanded kurdish forces withdraw from a border strip in northern syria, where they intend to resettle refugees. the cease-fire negotiated last week is set to expire tuesday evening. after three days of rioting, the president of chile has a stark message. he says the country is at war and called on people to choose sides. chile's copper unions have responded w

am mark crumpton. this is bloomberg. david? vid: as mark mentioned, today marks 70 years since the founding of the people's republic of china. for the last 40 years, it has grown faster than any other economy in history. marking the anniversary, xi jinping said today more is yet to come. >> today the socialist china is standing in the east of the world. there is no force that can shake the foundation of this great nation. no force can stop the chinese people and the chinese nation from forging ahead. david: deborah lehr has been there to see much of the rise of china as deputy assistant u.s. trade representative for china, she negotiated its admission to the wto. she has advised many prominent companies as they enter the chinese market. see -- she is the vice chairman of the paulson institute. thank you so much for being here. before we look forward, roads -- let's reflect on this anniversary, particulate last 40 years since deng xiaoping came to power. what is it that he brought that brought this amazing growth economically? de

now we turn to mark crumpton. mark: a former top national security correspondent on russia is testifying to congress behind closed doors. fiona hill is the latest former trump administration official to be subpoenaed as part of the house impeachment inquiry into the president. hill resign from the white house security council over the summer. her appearance comes despite a white house valve to halt any and all cooperation with what it terms the illegitimate impeachment probe. the u.s. says there is still time to slap meaningful sanctions on turkey over its military actions in syria, following up on a story from just moments ago, speaking to reporters outside the white house, steven mnuchin responded to lawmaker criticism that the united states response to turkey's offensive has been too weak. secretary mnuchin also said china trade talks are progressing. >> the current plan is there'll be deputy level calls this week and principal level calls next week with ambassador lighthizer and myself and the vice premier. if

david: mark crumpton the first word news. mark: u.s. and china negotiations progress, mexican officials believe usmca trade deal could be approved in weeks and implemented within three months. -- the mexicor undersecretary made the comments today. he says mexico has carried out a lobbying campaign in the u.s. and canada to pass the trade deal. vehiclesn troops and to help protect oil fields in northeastern syria. wantssper says the u.s. to make sure isis do not get access to oil. the oil fields are controlled by syrian kurds right now. last week president trump insisted all u.s. troops would leave syria. joe biden's confident he is the front runner in the campaign to be the democratic nominee. he may be short on cash. federal election commission filings recently show the former vice president with less than $9 million on hand, the smallest cash reserve among the top five polling candidates in the race. elizabeth warren's campaign has $26 million in the bank. bernie sanders has nearly $34 million in the bank. japan's economy minister has

i'm mark crumpton. this is bloomberg. it is 1:00 in new york, 5:00 in london, 1:00 a.m. in hong kong. i'm vonnie quinn. welcome to bloomberg markets. from bloomberg world headquarters in new york, here are the top stories we are following. extension granted. the eu agreed to a three-month delay for brexit until january 31, removing the scenario of a new deal split thursday. speaking of halloween, fangs will be sinking their teeth into markets this week. alphabet, facebook, and apple will report. and bring on the bling. buy is offering to tiffany's, the iconic new york jewelers, for $14.5 billion. let's get to abigail doolittle. record highs for both the s&p 500 and the nasdaq 100. the first since july investors bidding stocks higher on a wave of macro uncertainty being lifted around trade, the likelihood that there will not be a no deal brexit, plus earnings season. it's been good enough to send stocks to record highs. we have haven bonds trading lower along with gold. the 10-year yield up five basis points. here are some

we turn now to mark crumpton for first word news. mark: american and chinese negotiators are in washington, where they begun the 13th round of trade talks. the world's biggest economies are deadlocked over allegations that china steals technology and pressures foreign companies to hand over trade secrets. bloomberg has learned the white house will consider a partial trade deal with china. ukraine's president says his country will "happily" look into whether ukrainians interfered in the 2016 u.s. elections. asked bynsky was reporters whether there was any interference, he answered we cannot say yes or no without an investigation. president trump asked president zelensky for such an investigation in a july phone call that is at the center of an impeachment inquiry. turkey's president does not like the criticism his country is getting for invading northeastern syria. he says if he -- if it does not stop, he will open the door for 3.5 million refugees living in turkey. that would allow them to seek shelter in europe. the u.k. in island se

mark: i am mark crumpton with bloomberg's first word news. can forces quick withdrawal from northern syria, the united states considering leaving some troops behind. defense secretary mark esper said some forces may state to secure oil fields and make sure they do not fall into the hands of an insurgent islamic state. the pentagon chief says no official decision has yet been made. president trump has repeatedly said islamic state has been defeated. energy secretary rick perry spoke at the european union in brussels today to promote nuclear energy. secretary perry promoted small, modular reactors as the future of energy. >> we are reaffirming nuclear energy as an indispensable source of energy for the world. and contrary to naysayers, nuclear energy is safe. nuclear energy is clean energy. and that is why we launched the nuclear innovation clean energy future initiative. we call it

i'm mark crumpton. this is bloomberg. is 1:00 in new york, 6:00 in hong kong, 1:00 in london. i'm vonnie quinn. welcome to "bloomberg markets." from bloomberg world headquarters in new york, here are the top stories from around the world we are following. 17 days until brexit. johnson's chances of sealing a deal with the european union are hanging in the balance once again. the bottom line for big banks. earning sick off this week. we have a guide on what to expect. apple is seeing higher iphone demand than expected. we will tell you what the driving that strength. all that to come but first we are halfway through the columbus day trading day. kailey leinz is with us, pretty quiet. kailey: it is pretty quiet. the moves are pretty marginal. flat.w is roughly the s&p 500 and the nasdaq each down by 21% as investors await the prospects of a deal. down by 0.1% as investors await the prospects of a deal. see the big leg lower came after this morning when china said they wanted more talk before signing on to phase one of the tr

we turned to mark crumpton for first word news. rk: a stunning attack at the police headquarters in paris. an employee armed with a knife killed at least four officers before he was shot and killed. it is not clear what the motive was. the killer is described as an administrator who worked in the intelligence unit. the paris police headquarters is located across the street from the notre dame cathedral. european union council president donald tusk says he is still unconvinced about the new british proposal to unblock the stall brexit talks, but he says he told boris johnson the eu remains open. the eu chief says he told ireland's prime minister the eu stands fully behind ireland. britain is set to leave the eu on october 31. president trump china should consider investigating joe biden and his son. speaking to reporters as he left the white house for florida, the president reiterated his claim 11.5 billioniden dollars from a chinese investment fund after a company his father from china. >> i am sure president xi does not like being

we turn to mark crumpton for "first word" is. mark: president trump and china's xi jinping will reportedly sign an interim trade deal next month. the two leaders will be in china -- chile, to excuse me -- to attend the asia-pacific economic cooperation conference. lieutenant colonel alexander fridman testifies today before the three house committees leading an impeachment inquiry into president trump. vindman was on the july telephone call with the president of ukraine. in a prepared statement, he said he was concerned by the call and witness to other incidents in which administration officials conditioned aid to ukraine on an investigation of former vice president joe biden. u.s. senator and president of candidate elizabeth warren believes it should be harder for the largest u.s. committees to hire former government officials. in a post published today, she found that -- vowed that a warren administration would ban some countries from hiring government officials for at least four years and it was multi-million-dollar fines for vi

withrned to mark crumpton bloomberg first word news. mark: syrian forces took control of a key town near the turkish border today. pressure is mounting on turkey to end an offensive that has drawn u.s. and european sanctions and accusation of war crimes. kurdish led forces who fought with u.s. backing to defeat the islamic state has been forced to turn to the syrian president for help, pulling back from a border area as syrian government troops marching. the eu is sounding a more optimistic tone about the chances of a brexit deal after the u.k. sent revised proposals. negotiators are trying to wrap up an agreement in time for eu leaders to rubberstamp it at their summit this week. the u.k. proposal is shrouded in secrecy, but the focus is on the border between ireland and northern ireland. the son of democratic presidential candidate joe biden says his service on ukrainian gas company board was a bad idea. still, hunter biden says he did nothing improper. he spoke with abc news. >> i am a human. did i make a mistake? maybe, in the grand

mi'm mark crumpton. i'm vonnie quinn. welcome to "bloomberg markets." from world, here are the top stories we are following. ge hits the brakes and a move -- cluldd/debt to the debt. looking to move into a green home? jumpll discuss a plan to into the markets. we are halfway into the trading day. taylor riggs joins us from san francisco. : tech continues to tech to way as we await gain a little today. i wanted to take a look at the three year yield, up four basis points to 140. you have three yields rising for a second straight day. today, up about four basis points. i wanted to talk more broadly about yields and what is happening. i wanted to take a look what a selloff on the front end of the yield curve. you can see five basis points on the two-year. only up one basis point. you have the 530's, 65 basis points which is flat. federal reserve members may or may not cut on the terminal, it is looking like a 67% of a fed rate cut. only 30% saying we might not see a cut. up -- you seeing back are seeing back up they perhaps readjust. shares of apple gainin

now we turn to mark crumpton for first word news. mark: british prime minister boris johnson may not even get the chance to put his brexit deal to a vote on saturday. support is growing for a move by an alliance of former conservatives and opposition members of parliament to delay the decision by a weaker more. the amendment would withhold approval of the brexit deal until the bill that implements it is law. if it passed, johnson would be unable to put his deal to vote, or sing him to seek a brexit delay. a five day cease-fire, what some are causing a pause, has taken place in syria. there are still reports of fighting between turkish and kurdish forces. vice president pence and turkish president agreed on the truce yesterday after meeting in ankara. turkish fighters -- kurdish fighters will be forced to retreat from the battlefield and turkish forces will not withdraw. spain says it will punish riders in catalonia. masked protesters are being held over the imprisonment of catalan separatists. spain's interim prime minister, pedro san

we want to go to mark crumpton. he has bloomberg first word news. rk: china is condemning the united states congress over a bill supporting protesters in hong kong. the house has approved a package of measures. hong kong chief executive carrie lam weighed in on the move. rights act isng unjustified and unwarranted. it will hurt not only the hong kong business, it will heart american interests in hong kong. they have 1400 companies. 85,000 citizens in hong kong. mark: the action follows months of protests over china's actions to strengthen control over hong kong. the house impeachment inquiry is exposing details on president trump actions on ukraine and rudy giuliani. former national security advisor john bolton referred to giuliani as a hand grenade with his efforts toward ukraine. secretary of state mike pompeo is speaking to house impeachment panels behind closed doors today. michael mckinley is a career foreign service officer and was mike pompeo's de facto chief of staff. he is expected to discuss concerns held by career state department official

i'm mark crumpton. this is bloomberg. shery: live from bloomberg world headquarters in new york, i'm shery on. amanda: live in toronto, i'm amanda lang. here are the top stories we are following from around the world. stocks around the world tumbling and bonds on the rise with u.s. markets on track for their biggest two-day slump in two months. -- job numbers are fueling fears of a deepening economic slowdown. and elizabeth warren unveiling details of attacks lobbying that would cost some of the biggest u.s. corporations hundreds of millions of dollars. that conversation coming up. theirst a quick check on major averages, we are watching aut -- stocks selling off in somewhat dramatic fashion, every subgroup of the s&p 500 is moving lower today, materials and tech are leading the way, the dow and the s&p at 5% off their record highs, this is the worst start to a quarter in 11 years. we have a big decline from the bank -- the faang stocks. alone are moving higher, one of them is johnson & johnson as it settles in ohio over

i am mark crumpton. this is bloomberg. david? mark.hanks so much, a sharp downturn in manufacturing and weakening service sector numbers do not seem to of hit jobs very hard, at least not yet. everyone is at least concerned about the growth of the u.s. economy. we welcome david mcintosh, president of the club for growth. great to have you here. the numbers seem to be coming down. we are not continuing the breakneck pace. how concerned are you about the jobs numbers? david m.: i are not concerned with these. i think they showed a steady report. if you look at the annual average, about 160,000 jobs each month. that is 60,000 more than we saw during the obama years, when it was a flat economy. we are still adding jobs. the unemployment rate hit a historic low. in political terms, that is helpful to president trump, it gives him leeway on the economy, at least with the average american. for the markets, i think what it did it show everybody we are not on the precipice of a collapse. we saw the bounce up today in the markets. what that mean

i'm mark crumpton. this is bloomberg. >> a live from bloomberg world headquarters in new york, i'm scarlet fu. amanda: i'm amanda lang in toronto. joined by our bloomberg and bnn bloomberg audiences. this sunday, argentines will head to the polls to elect a new leader. alberto fernandez is on the brink of winning power, so why are investors so terrified? amazon suffered its first profit decline in more than two years as it moves to one-day shipping and battles its lowest ever growth rate for its cloud business. california has declared a state of emergency in sonoma and los angeles counties, as the kincade fire ranges. let's get a quick check on the major averages as we head into afternoon trading. we are looking at the s&p 500 ending the week with gains. robert lighthizer and steven mnuchin released a statement saying the u.s. is closer to finishing phase one of the trade deal, giving investors a reason to bed up share prices. although they have stalled out, we are looking at gains in materials and tech

i'm mark crumpton. this is bloomberg. shery: live from bloomberg world headquarters in new york, i'm shery ahn. welcome to "bloomberg markets." here are the top story that we are following around the world. mark zuckerberg is struggling to convince congress that the company's plans for a cryptocurrency are wise in light of the all of the other challenges the company has failed to solve. boeing lays out a blueprint for recovery, mapping out a sharp is to output of the 737 max. we have the latest. wework will nearly avoid financial ruin and in the process reward its former leader billion.uch as $1.2 in the meantime, the financial times reporting wework is planning to cut as many as 4000 jobs. let's get a quick check on the major averages. we see u.s. stocks slightly higher, fluctuating between gains and losses through the session. the s&p 500 around the 3000 level. we see boeing leading the gains on the dow, which is also flat. they say they expect the 737 max to be cleared to fly this year. semiconductors weighing on the in

i am mark crumpton. this is bloomberg. ♪ >> live from bloomberg world headquarters in new york, i am shery ahn. >> live in toronto, i'm amanda lange. we are joined by both our bloombergand bnm audiences. hear the stories we are following. blacklist backlash. the u.s. is taking aim at chinese tech firms and markets are taking notice. face-off in canada. just weeks until the federal election, main party leaders took the stage, and front runners traded blows, but was there a true knockout. and spotlight on fed chair jay powell. he is set to speak in colorado and just an hour's time. we will tell you what to expect. shery: let's get a quick check of the major averages, so trading in the afternoon session, we are off of the session lows, but the s&p 500 still falling for a second consecutive session. we have semiconductors taking the biggest heat following the most in about six weeks as we get more concerning trade headlines unsettling the market. we have a rally on safe havens, not to mention, safe haven cur

i'm mark crumpton. this is bloomberg. powered by more than 2700shery:d headquarters in new york, i'm shery on. amanda: live in toronto, i'm amanda laying. we are joined by our bloomberg and bnn bloomberg audiences. here are the top stories. jpmorgan widens its edge on rivals as the biggest u.s. banks navigated into mulch was third quarter. we take a look inside earnings. the appetite for gold. .e talk to peter grosskopf and google is holding its biggest hardware event of the year. we are live in new york city with the latest unveiling. shery: let's get started with a quick check on the major averages. we with the latest unveiling. are seeing upside with the major indices now gaining more than 1%. we see the dow adding more than 250 points, at a three-week high at the moment, as the s&p 500 is being led higher by health care and technology shares. the nasdaq also at a three-we kind. we are now seeing third-quarter earnings seeking off, upsetting some of those concerns about the china-u.s. trade tensions. are seeing upside

i'm mark crumpton. this is bloomberg. ♪ >> live from bloomberg world headquarters in new york, i'm shery ahn. >> in toronto i'm amanda lang. , welcome to "bloomberg markets." >> here are the top stories we are following from around the world. justin trudeau has this occurred -- has secured a victory, but now he will be forced to depend on other parties to govern. what it could mean for trade policies with the u.s. is the ceo of energy energy announcing net zero carbon. how else they are preparing for climate change. helping farmers deal with threats imposed by climate change. we will speak with the ceo about that and how the company's position itself as the trade war takes its toll on global agriculture. amanda: justin trudeau was elected to a second term as prime minister, but he will preside over a minority government. the liberal party lost its parliamentary majority and the popular vote. >> to my fellow canadians, it has been the greatest honor of my life to serve you for these past four years, and

i am mark crumpton, this is bloomberg. >> live from bloomberg world headquarters, i am shery ahn. >> live in toronto, i am amanda lange. we are joined by our audiences. here are the top stories we are following. been worse off on the back of another round of disappointing economic data. it has delivered its weakest growth in 30 years. boris johnson's plan b. theces tell bloomberg that prime minister has not ruled out keeping the backstop arrangement if the conditions are right. another blow for facebook. the european union's highest court said that the social media giant can be forced to remove posts anywhere in the world to protect users from hateful content. shery: let us get you started with a quick check of the markets trading. we are seeing a little bit of a pickup for the s&p 500. this coming after the more than 1% drop after the very weak reading on the services sector, the weakest in about three years. we are seeing the dow gained ground, and the nasdaq up .8%. financials are weighing on the market. rates are moving lower. it is now below 1.6%. it is not just a treasury rally

i'm mark crumpton. this is bloomberg. ♪ shery: live from bloomberg world headquarters in new york, i'm shery on. amanda: live in toronto, i'm amanda lang. we are joined by our bloomberg and bnn bloomberg audiences. u.s. factory gauges unexpectedly fell deeper into contraction, posting the weakest reading since the end of the last recession. that as the global economy flashes clear warning signs. plus, the great american debt binge. deleveraging that was supposed to sweep over corporate america appears to be on hold. vc's and execs from private discuss whether the financial system industry of ipo's is working. who will not be at the table? bankers. shery: let's get started with a quick check on where the markets are trading. we are seeing major indices falling more than a percent. stocks falling, treasury yields falling. the s&p 500 now falling the most in over a month. .very sector is in the red the client being led by industrials, banks down as well as rates move lower. we are also seeing a lot of indu

we turned out a mark crumpton for bloomberg first word news. rk: the battle over the impeachment inquiry into president trump continues on capitol hill. house democrats say they will subpoena the u.s. ambassador to the eu to testify before a house panel. after the state department barred him from appearing it is scheduled deposition. adam schiff spoke to reporters. >> the failure to produce this witness, the failure to produce these documents, we consider yet additional strong evidence of obstruction of the constitutional functions of congress. messages released last week reveal conversations between sutherland and other u.s. diplomats who are intermediaries as president trump urged ukraine to investigate joe biden's families. he is a hotel executive who donated $1 million to president's inaugural committee. the supreme court appears to be divided over whether a federal law protects gay employees from being fired because of their sexual orientation. today's hour-long session suggested gay rights advocates have the chance to win the vote of neil

i'm mark crumpton. this is bloomberg.: live from bloomberg world headquarters in new york, i'm shery ahn. amanda: in toronto, i'm amanda lang. welcome to "bloomberg markets." shery: here are the top stories we are following from around the world. u.s. central bankers begin a two-day policy meeting amid overwhelming expectations they will deliver the years third interest-rate cut to bolster a softening economy. bonus bonanza at bank of america. the bank plans to pay employees a special bonus for the third straight year after reporting record earnings in four of the past five quarters. recentch in tesla's earnings report. the company's surprise profit came despite a drop in 40% of revenue in the u.s. amanda: quick check on the major averages. shery alluding to some of the reasons we are seeing a lackluster day. high valuations, s&p 500 close to record highs, and meanwhile, the question is are earnings justifying the high numbers? general numbers had cut its earnings guidance. you can see the whole tech group is way down tod

. >> we turn now to mark crumpton. happy toent trump was see house republicans protesting the impeachment investigation. told foxnewssham the president was very supportive of the move. about two dozen house republicans crashed a secure room at the capital yesterday. they wanted a closed-door hearing open to all members of congress, not just those on specific committees. another deliver a blackout in california leaves more than a half-million people across the state in the dark. pg&e had cut power to try to keep electrical lines from starting wildfires. meanwhile, a major fire north of san francisco. british police have confirmed that all 39 people found dead in a refrigerated container truck near an english port for chinese citizens. a magistrate gave detectives another 24 hours to question the truck driver, a 25-year-old man from northern ireland who was arrested on suspicion of attended murder. he has not been charged and police have not released his name. lebanon's president pleaded with tens of thousands of protest

we turn to mark crumpton for first word news. rk: a federal appeals court has granted president trump a last-minute reprieve in his effort to block a new york subpoena for his tax records. that will prevent a ruling from taking effect that would have forced his accounting firm to hand over the records to manhattan district attorney. the da is investigating whether the trump organization falsified business records related to hush money payments. the president's lawyers say the investigation is politically motivated. united states will stand aside when turkey's military launches an offensive against america's kurdish allies in syria. that is a significant shift in u.s. policy. turkey continues the kurdish militants a threat to its national security. president trump his decision, tweeting the u.s. cannot afford to be stuck in ridiculous wars. prospects of a brexit deal are fading after talks between the two side stalled. casting leaders are doubt on reaching an agreement in time for the deadline. emmanuel macron and the irish prime m

i am mark crumpton with bloomberg's first word news.nt trump is threatening to slap more sanctions on turkey. steven mnuchin just wrapped up a news conference where he said turkey could face powerful sanctions. the move comes as president his decision to pull back some american forces in northern syria which clears the way for turkey to send its forces into the country and attack american allies. there has been a breakthrough in u.s.-china trade talks. bloomberg has learned the nations have reached a partial agreement that will broker a truce in the trade war and lay the groundwork for a broader deal later this year. as part of the agreement, china would agree to some agricultural concessions and the u.s. would provide some tariff relief. it is tentative and subject to change as president trump prepares to sit down with china's top negotiator today. a powerful typhoon could drop as much as 30 inches of rain on tokyo this weekend. damaging winds are in the forecast as well. the government is warning residents to stockpile necessities

i'm mark crumpton. this is bloomberg. ♪ ♪ >> live from bloomberg world headquarters in vonnie quinn. >> and live in toronto, i'm lang. welcome to "bloomberg markets." we're joined by our bloomberg audiences. the top stories we're following from around the world. >> a downshift in the u.s. labor market, hiring missed projections while wage gains warned, offering a warning that the record long expansion may be slowing. plus, the shale patch slowdown. what's next for the basin whose abundant america's quest for energy independence. and the big dogs of modern mergens and acquisitions aren't tough anymore. we will take a look at what fails. when deal genius let's get a quick take on the averages. it's been a flippy week. gain&p 500 up at 1% of the now, even though after the jobs data we saw a bit of a decline and, of course, it has been a the majorfor averages. -- the major the and hav san fo averages are up 1% apiece, the potential on for fed cuts or just the data today, we shall ask our economist in a mome

i am mark crumpton. this is bloomberg.rt of arking the campaign blackout in argentina, citizens heading to the polls to choose between the sitting president and the incumbent. jp.more, j pace pennetta -- is there any ambiguity about the outcome? >> as he said, we had that result in the primary. they were ahead by 16 percentage points. it will be difficult for the incumbent to turn around the election and actually make it to the runoff. for him, it is not crucial to win the election. is within 10 to be points of difference from the so in that manner, he will be able to make it to a runoff. >> can you give us a sense here. what are people voting for? what are the main issues driving it --ector -- elector electorate? >> this is all about the economy, it is in pretty bad shape. itarrived promising that would be better. it grew during the four years, people -- it is about the economy basically. >> whatever happens, it seems the economy deteriorating going into this election, people would tell amazing stories, the lines outside

i am mark crumpton. this is bloomberg., as mark president erdogan officially announcing the turkish offensive into northern syria. the lira near its weakest level, while turkish stocks and bonds fell. bloomberg's foreign policy reporter joins us from washington with the latest. thank you for joining us. doesis the latest, and how it fit into president trump's previous comments about monitoring turkey's actions closely and threatening to destroy its economy if it doesn't like what it does? >> it looks like turkey is feeling relatively confident about the status of its military incursion and its relationship with president trump. they started an air campaign despite u.s. statements that turkey would be shut out that northeastern syrian airspace, and they have begun a ground campaign that has seen turkish soldiers crossed the border into syria. president erdogan and a startling statement said if european nations doubt assistance some way that he would send 3.6 million refugees in turkey into europe, so what you are seeing is

. ♪ mark: i'm mark crumpton with first word news.dent trump has insist that he is pulling american troops out of syria and getting out of what he will's endless wars, his defense secretary says that the u.s. may leave some forces in syria to secure oil fields and make sure that they don't fall into the hands of a resurgent islamic state. spoke to reporters today during a trip to afghanistan. >> the troops there are not in the present phase of withdrawal. the present phase involves those border,p along the principally at the [indiscernible] at this point in time. as i said yesterday, the withdrawal will take eats, not the, and until that time forces will remain in the towns located near the oil fields. mark: he emphasized that the proposal to leave a small number of troops in eastern syria was intended to give the president what he described as "maneuver room" and wasn't final. benjamin netanyahu has ended his that -- his bid to form a new coalition, pushing the country into new political uncertainty. he fell short of securing a 61 se

i am mark crumpton, this is bloomberg. let's get you a recap of what is happening post earnings.7%. both look at to their first quarters, the holiday quarter. that is ahead of expectations. >> facebook also moving higher. average users on the facebook app reaching 2.4 5 billion and their revenue growth, third-quarter sales is 29%. a growth rate of 29% on revenue. >> finally, it had been higher lyfthen it went lower, is basically flat. was more narrow but they still lost $.41 per share. this is bloomberg. ♪ >> apple and facebook both reporting earnings after the bell today with the latest on how they did and how the markets are reacting. in ed.in -- let's bring ed it is all about the fiscal -- ed: it is all about the fiscal first quarter for apple. apple sees first-quarter -89.5ues at 85.5 billion billion. they are in the midrange, it tops estimates. they were shipping the iphone 11 and iphone 11 pro. we are waiting to hear more about how the present of those handsets played into it. was on revenue of 64.7 billion dollars. ,his is above the estimate $12.16 billion. iphone revenue

i am mark crumpton. this is bloomberg. constellation brands, saul shares fall after mixed results. here to break down what is going on with the consumer is our consumer reporter. feeling so good about the feeling so good about the economy i want to buy my pepsi and my christmas. -- crisps. >> that's right. hep c has not seen any pushback. has not seenepsi any pushback. they are benefiting from higher prices. >> it is a complicated story. i think people lie to pollsters or present their best selves. a powerhouse been for pepsi for a long time. there have been people who have argued to split it off, frito-lay is one of the best packaged food companies that exist. soeda is a different story, but they made up for it, so pepsi chugging along today with higher prices. romaine: constellation brands part a little bit. theirf this is related to investment in marijuana and cannabis, right? >> it is. the marijuana stocks have been hit hard. canopy, in particular, not profitable like everyone else in canada, and some slowing sales. th

i'm mark crumpton. this is bloomberg.d chance is coming for wework, part of a deal that will see softbank take control of the company and push ceo adam neumann largely out of sight. julian, there were two offers that we know about. why did we work go with softbank? >> the key is that this package allows adam to be cashed out. did notorgan package offer any equity so there would not be any repurchasing. this other package, up to 3 billion. adam is allowed to sell just a little under a billion dollars of his stock. this is what people are wondering. why is he getting anything in the end? this company, in theory, without some outside help, seemed to be heading to zero, actual plausible, literal bankruptcy in which case all equity is gone. in this scenario, he is walking away with a lot of money. biggestank is the shareholder but he had more voting rights so they needed to get him a little bit out of the picture and offer him a package that he has obviously come to terms with. people on twitter are saying, i would love for th

i am mark crumpton. this is bloomberg. caroline: thank you.ond meat plunged in today's session after questions about competition. fake meatstors in the company sold shares. >> a brutal day for beyond meet. you would not know it here. but today is 230%, the second worst day in its short lifetime. concern,rowth is a rising costs, competition, and the lock up. one reason why 75% of the early investors might want to get out now, take a look at the gains. 230 percent is not too shabby. eventually, we could see slowing growth. the growth is estimated to be 240 percent, than 52%, 48%. that's moving in the wrong direction. one concern is competition. this has caused analysts to bring down price targets. wasa long time, beyond meet well above analysts price targets. the average price target was $100. beyond meet is close to $250. below $100.l an interesting divergence. it will be interesting to see how that plays out and it has to do with future performance. >> great stuff, abigail doolittle. for more on beyond meet, let's sarah from washington. big ov

let's go to first word news with mark crumpton.tment isice close to a deal with jolo to recoup almost $1 million looted from invasion glezman -- from malaysian investment fund 1mdb. the settlement could be filed as soon as this week in a california court. iskey's president erdogan questioning his travel plans. he is supposed to go to washington to meet with president trump, but the house has overwhelmingly passed legislation that could penalize turkey for its military offensive in syria, and president erdogan was noncommittal when asked wit if e was still planning on making the trip. support forgiven nord stream 2. the decision as a blow to the trump administration and several european countries who opposed the deal. they worry it could increase europe's dependence on russia as a supplier of energy. troops reopened major roads following nearly two weeks of nationwide protests. resistanceinimal from protesters as lebanese army units with bulldozers took down barriers and tents set up in the middle of highways and major intersections

i'm mark crumpton. this is bloomberg. thank as mark just reported, prime minister johnson has struck a deal with eu leaders, and they are now holding a news conference. now the brexit agreement has to make it through the u.k. parliament, where it is already facing opposition. northernicials from ireland's eu newness to party have said they will not support it. our next guest wrote yesterday, before the announcement, "that wall may crumble if the dup holds their blessing." maybe the dup can be brought -- promises of extra cash. joining us now is the person who wrote that, therese raphael. i had you on to say, what do you think after it is done? let's start with the dup question. is it right that boris johnson probably did not agree without knowing that he could get the dup to come around, even though they are objecting to it? >> i think boris johnson probably made a two way that here. he may have well done the deal knowing that the dup was not happy with it. his calculation may have been, either the dup are brought on board

i'm mark crumpton. this is bloomberg. romaine: all right.ant to bring you some breaking news come one company saying it will come in at the top end of the range with regard 3q, and remember, this company had a range already out there of 1 -- 218 to 221. paypal also making an announcement, saying it sees a charge that is going to amount to about $.15 per share. it says it is related to strategic investment, does not really specify what that is, shares not moving a lot, but we will keep an eye on it to see if it amounts to anything. all right, let's go back to what is happening in washington. as mark just mentioned, house issueers saying they will . subpoena for gordon sondland let's bring in our bloomberg news congressional reporter, and edgerton.-- anna anna: we did not get a clear statement. it was a surprise for lawmakers. they were already at the capitol and were ready to begin the deposition at 9:30, at about an hour before was supposed to start, we got word from the state department that he was not going to be allowed to testify. that w

i'm mark crumpton. bloomberg. ♪ data is out today reinforcing the idea that the recent upswing in the industry continues. with retail sales, the reports underscore how difficult it is to assess where the economy is or is headed. now, a family management corporate chief investment officer. where are we? it feels like it is an exceptionally difficult economy to read right now. there's an extraordinary amount of debate about whether or not we are going into a recession. >> i think i'm in the middle like everybody else. there's too caps. the people that see the manufacturing data and say this is going to drag down everything else and other people who say manufacturing isn't a big deal, this is all noise, services are strong, we have a healthy corporate environment. we have housing which is pulling things up. i am not in any extreme at all. >> in the manufacturing thing side of theonsumer equation is relatively strong. we continue to get conflicting signals. we just heard from a bunch of banks. folks still s

with i'm mark crumpton first word news.dent trump says he will impose sanctions on turkey in response to the military advance into syria. the penalties will raise steel tariffs back to 50%. the u.s. will halt negotiations over a trade pact. the president also says his administration will sanction current and former government officials and anyone contributing to what he calls turkey's destabilization actions in syria. we will have more coming up in just a few moments. bloomberg has learned that china wants to hold more talks this month hammer out the details of the trade deal before chinese president xi jinping agrees to sign. bloomberg reports that jie zheng a delegation send to the summit next month in she lay. the u.s. and china emerged with last week's talks with different takes on what is in the accord and how close they are to signing. a former top expert on russia is testifying to congress behind closed doors today. fiona hill is the latest former trump administration official to be subpoenaed as part of the inquiry

. >> i'm mark crumpton the first word news. dozen republican house members today occupied a secure hearing at the u.s. capitol. they sought to delay a scheduled deposition related to the impeachment investigation of president trump. president trump reportedly had a bit knowledge and support at the protest. >> what is adam schiff trying to hide? that is a question so many people have. so many people in the press schiff ise areas adam trying to impeach a president of the united states. behind closed doors. it literally trying to overturn the results of the 2016 election. >> once they enter the hearing, congressman schiff the health intelligence chairman is said to the left with the witness. emmanuel macron is set to force an emergency eu summit. he is insisting that any delay to the october 31 brexit deadline last no longer than 15 days. favor tusk is said to pushing the deadline back by three months to help avoid a no deal brexit. the attorney general in colorado has released a report detailing his pattern of abuse of more child

i'm mark crumpton. this is bloomberg.aine: some breaking news that stocks.ffect energy's norway's well fund, one of the argest out there, says it is divesting several crude producers, and says the oil totalling up to $5.9 billion, they just put out a statement on this, it was we'll try to bring you a little bit more information about specifically what affected by that. big turn to one of the stories of the day. shares plunging today. plans schwab announced to get rid of commissions, the latest strategy in an escalating to be ar that seems weighing on the whole sector right now. joining us to talk about this, evin ryan, managing director and senior research analyst at j.m.p. securities joins us on now.phone right devin, we saw is the market reaction here. for schwab, this is a pretty of revenue, anywhere from 5 to 7% of the revenue. competitors, if they go to zero, this is a pretty big hit, right? devin: it really is. it's a big story. it shunt be overly surprising, though. kind of having building to this point. we put out

i am mark crumpton. this is bloomberg. thanks so much. new jersey is the most densely populated state in the union and the second wealthiest. we talk with the governor of new jersey about the state of the state and what is on his agenda. that is coming up next. this is balance of power on bloomberg television and radio. ♪ david: this is "balance of power" on uber television and radio. phil murphy left a 24 clear at goldman sachs and became an ambassador under president obama. he comes to us today from princeton. welcome. it is good to have you with us. what bloomberg is concerned about, a lot of people concerned about, economic growth. give us a snapshot of the state of new jersey. house new jersey faring under president trump's administration? gov. murphy: new jersey is faring quite well. i am not sure how much credit i would give to the trump administration. we have printed three consecutive all-time lowest unemployment rates. have been in-- we office about 20 months. we inherited a mess on the fiscal side. ,e are digging out of decades

i'm mark crumpton, this is bloomberg. david? mark.s very ambassador carla hill served in the cabinet of two presidents, tradecond time as representative of george herbert walker bush. we welcome her back into bloomberg today from washington. matamela bass that thank you for being here. -- madamind out ambassador, thank you for being here. give us your perspective, it looks like we might be walking a way with half a loaf than a full loaf. carla: the damage being done by reciprocal tariffs is a norm us and effecting the whole global economy, so i would have -- noher have a mini-deal than deal, and i would rather have a big, runner full -- wonderful deal rather than eight -- than a mini-deal. it is a step-by-step process. i have not been told what the process will be, but it is generally surmised there will be a drop off of some of the terrorists, at least they will be stabilized -- tariffs, at least they will be stabilized, and both sides will make some minor changes in terms of what the others have asked for in terms of market ac

i'm mark crumpton, this is bloomberg. >> i'm shery ahn. >> i'm amanda lang. bloombergned by our audience. >> here are the top stories we are following for -- from around the world. the door is open, signaling the possibility for a possible trade deal tomorrow. advances into syria. president order one -- president the president of syria ordering a potential missile strike. and pg&e cutting the power to clients to keep from sparking more fires in california. check: let's get a quick on the major averages here. we have positive sentiment of foot thanks to some finds that china may be willing to strike -- signs that china may be willing to strike a partial trade deal. the market remaining fixated on trade, the broader market is being driven by technology and we have chips leading the way there, so we have seen a bit of release for the sectors that seem to have been the most particularly hit. one area worth noting, johnson and johnson falling as they were hit with a jury award that analysts said would be lower before they were through. take a look at this luxury s

mark: i'm mark crumpton. this is first word news.ohnson will seek a general election on december 12. he briefed the cabinet today and announced a motion will be put to parliament for a vote on monday. it will need a two thirds majority for an election to be called. if it succeeds, johnson said he mp's more time to debate the brexit deal. the uu is expected to grant an extension on friday. china'sce criticized actions on protesters in hong kong while calling for greater engagement between the world's two biggest economies. he said their human rights record will not stop the nations from trying to resolve the trade war. >> we will continue to negotiate in good faith with china to bring about long-overdue structural reforms in our economic relationship. and president trump remains optimistic that in agreement can be reached. mark: the

i'm mark crumpton. this is bloomberg. ♪ live from bloomberg world headquarters, i'm shery ahn.manda: live in toronto, i'm amanda lane. we are joined by our bloomberg and rbn amp bloomberg audiences. here the top stories we are following from around the world. good luck. negotiators from u.s. and china are meeting for their for -- for their 13th round of trade talks in washington today. turkey's president bristles after europe because his move into syria and invasion, threatening to send millions of refugees edited in his country over to europe. investors at ease. fidelity matches its rivals price cuts is that of escalating the recent price war. etsy started with a check of the major averages. we are seeing stocks and yields gaining ground in the afternoon session. this as we saw the u.s. and china high-level delegations finally kickoff the trade talks after a violent overnight session where we had conflating reports on whether that would happen at all. conductors leading the gains on the s&p 500. the semiconductor index also getting morning -- getting -- gaining more than a per

. ♪ mark: i'm mark crumpton with bloomberg first word news.ornia governor gavin newsom has declared a state of emergency for the counties of sonoma and los angeles due to the kincaid and tick fire's, wildfires at both ends of the state have forced thousands to flee and utilities are warning it may experience its biggest blackouts over the weekend. the u.s. and china are close to finishing some sections of their phase one trillion agreement, according to a statement from robert lighthizer and treasury secretary steven mnuchin. they held a phone call with the chinese vice premier and said discussions will continue at the deputy level. trade official peter navarro tells fox news that phase one could be signed as soon as next month. meantime, mexican officials believe the usmca trade deal could be approved in weeks and implemented within three months. the under secretary of foreign relations for mexico made the comments today alongside the mexican president. what goasar