>> welcome i am mark crumpton with first word news. paul plosive the husband of house speaker nancy pelosi was assaulted during a break in at the san francisco home. it happened early this morning just over week before midterm elections he associated press reports he was severely beaten with a hammer, paul pelosi is affected to recover. star quarterback tom brady and his wife are divorcing after 13 years of marriage. brady said they arrived at the decision equitably -- amicably and they are glad for the time they spent together. he retired last season with a temp of a buccaneers but decided to return to the team. hopes that the euro zone can stave off a recession got a boost today, germany to fight -- defied expectations by reporting another quarter of economic growth. they grew the gross domestic product by 0.3% in the quarter, momentum slowed in both france and spain. french growth went from .5% to .2%. in spain gdp rose a worse than expected .2%. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than

i'm mark crumpton. this is bloomberg. >> welcome to bloomberg markets. >> green on the screen yet again, the s&p 500 up and the bond market catching a bid down 14 basis points on the 10 year yield. a lot of this triggered by what you are seeing in the eco-space. you are starting to see housing market pressures drop and prices coming down. you have consumer confidence numbers starting to slip. does this lead to a fed pipit? with the yield move, we see a weaker dollar. the bloomberg dollar index down .7%. with that weakness in the dollar, not only an equity rally , but brent crude still trading at a 93 handle. jon: let's look at some individual waivers in u.s. trading. a nice pop for shares of paypal with amazon testing venmo payments. those shares, paypal up almost 6.5 percent. we continue to roll through these different earnings stories. the dow component is a little weaker. a little cooling for the u.s. dollar but the general strength of the greenback taking a bite out of the sales picture for 3m. corn

i am mark crumpton with first word news. >> u.k. chancellor of -- charity -- jeremy hunt set out more details of his physical overhaul -- fiscal overall. -- overhaul. he announced he would rip up what was left of liz truss's economic program. >> does the chancellor accept that once credibility and -- trust has been destroyed, it cannot be regained with u-turns. well he apologize -- will he apologize from the cost of -- on families? the market told our -- he announced a new four-person economic advisory council and the president -- counsel. the leaders pledge to unify with a self ruling island comes ahead of a reshuffle of the party and a patriarchate public is adding pressure on presidency to move quickly especially after nancy pelosi challenge presidency -- the president of china by visiting taipei in august. in nigeria, 603 people have died in flooding. they say nearly 270 -- 270,000 acres are submerged in a water and 82,000 homes are damaged and 1.2 thousand people are displaced in the flooding is expected to get worse. across th

i am mark crumpton. this is bloomberg. jon: welcoming. kriti: green on the screen when you look in the equity markets. about 2.4% on the s&p 500. but the bond market as well. it yields down 25 basis points on the 10 year betty liu who triggered by stocks in manufacturing. things are similar in the stock and bond market, but we have been seeing the bloomberg dollar index weaker, putting a pause in that stronger dollar story we have seen the last couple of months. rally the crude market. $88 brent crude, a 4% rally in anticipation of another production cut. jon: we continue to ask those developments. within the s&p 500, call sectors in the green. one of the stand outsiders today has been energy stocks on the s&p 500, chevron on the dow jones industrial. in terms of individual stock stories, bio stat has been surging. we are also watching peloton, a hard-hit name. investors inspired this afternoon. one name not participating in the rally is tesla, shares down 8%. cap kriti: let's look at a bank that has been having quite the roller coaster r

i am mark crumpton first world news. the pentagon is seeing delivery of air defenses for ukraine. instead of building weapons from scratch, break down will accelerate assembly by using exists in parts. one of the weapons is a natural -- national advanced air system used to protect the area around washington dc and will be levered -- delivered to ukraine in a few weeks. in uvalde, the school superintendent plans to retire after months of outrage of the handling of one of the deadliest school shootings in a decade. fishing left 19 fourth-graders and two teachers dead. texas lawmakers blasted decision-making by both police and school officials. new york city mayor eric adams signed two bills prohibiting guns in prime square -- in times square. state law and abled the district -- restriction was ruled unconstitutional last week by district judge. "this is the heart of our city, we are not going to live in fear". in the u.s., small business optimism has lessened for the first -- the national federation of independent business overall optimism came higher than expected according to a tu

i am mark crumpton. this is bloomberg. >> i am jon erlichman, welcome to bloomberg markets. >> i am kriti gupta. green on the screen with the stock market. a rally. 1.7% is potentially the best week going all the way back to july for the s&p 500. this is thanks to the tech names rallying even in the face of not so great tech names. don aaron men will dig in that just a bit. -- jon erlichman will deal with that in just a bit. you can see the bond market is moving in a very big way. the front end of the curve getting big and perhaps moving in the opposite direction of the dollar. the dollar is actually weakening against the yen quite a bit. the dollar-yen, 147 is what we are talking about. that is going to be crucial. the ripple effects of the yen and to the dollar commodity market is also crucial. this is how you know a big player is involved in the market. the boj. you can see this because of a giant job. we are going to die -- dive into all of this. >> we certainly want to talk about some of these diffe

for now, let's get to the first word news with mark crumpton. mark: chicago fed president charles evans says the fed needs to quickly get to a level of interest rates where policymakers spend feet -- policymakers can feel comfortable pausing. they don't want to overshoot. >> frontloading was a good thing given how far below normal neutral rates were. overshooting is costly and there is great uncertainty about how restrictive policy must actually become. mark: mr. evans believes he wants to raise rates further and hold that stance for a while in a quest to bring inflation down to the 2% target. as covid tallies rise, fears of a potential lockdown are taking shape. the country reported almost 1900 cases on sunday, the highest since august 20. shanghai boasted its largest number of cases in almost three months and anyone traveling to shanghai will need a negative covid result within 24 hours of arriving in the city and will have to do three days -- three tests in three days. new york asked a federal appeals court to block in order that could overtur

first, time for first word news with mark crumpton. mark: former u.s. treasury secretary stephen mnuchin will not have to answer questions about his firm's investment funds when he testifies at the trial of the colony capital founder. a federal judge barred prosecutors from asking steve mnuchin how much.uae money was invested with him he will appear in court today as a witness who is accused of trying to influence the trump administration as an unregistered uae agent. protests in chat over the military junta to introduce civilian rule erupted yesterday, leaving two people that and at least 30 were injured. security forces used firearms to put down the demonstrations in the country's capital after the interim president imposed a state of emergency to address major flooding in the area. in malaysia today, the chairman announced the election commissions decided information delay. while nominations are fixed for november 5, the southeast asian country will hold elections on november 19. the statement comes as the prime minister said his party looks to capit

time for first word news with mark crumpton. mark: u.k. prime minister liz truss fired the home security for what she said was a national security breach. they move adds more pressure on the embattled premier. the secretary shared secret documents on a mobile phone. she acknowledged the technical infringement of the rules but later in a loaded message to liz truss treated and part "the business of government relies on people accepting responsibility for their mistakes." just a moment ago, grant chaps was appointed as new home secretary. lisa about -- speaking to lisa abramowicz, a security advisor says the administration is not announcing a ban on fuel exports . >> i never take anything off the table but it is not what we are announcing today or anytime in the near future. i would put that aside and focus on where we are which is trying to bring down the price. mark: the official adds the focus of the white house is to try to bring down the price of gas. for chicago mental health pilot program dispatches clinicians to some 911 callers. tha

i mark crumpton.is bloomberg. >> welcome to bloomberg markets. >> let's talk about the price action because we have a rally on our hands. the s&p 500 is up 2.5%. take a look at the bond market. it is the reverse. a 14 basis point move, off of a hot report, with a .2% year-over-year increase. the estimate is 8.1%. the 10 year is hovering just shy of the 4% level. look at the dollar. as it moves lower, it is paired with gains from earlier today. .6 percent, perhaps a boost to the market that is watching geopolitics closely. brent crude is at $94. it is up 2%. >> an incredible turnaround. as for some individual movers today, let's not forget we also had some encouraging outlooks from a whole host of players. walgreens shares are up. delta has a similar encouraging outlook. dominoes at a better than feared scenario financially for that. and the stock is up 10%. weaknesses on the commerce stock. a bit of a hangover from the initial selling. e-commerce names are particularly sensitive to rate hikes. etsy is

i am mark crumpton. this is bloomberg. ♪ >> welcome to bloomberg markets.et's talk about price action here. what was green on the screen has completely turned into the red. the s&p 500, whatever gains we were seeing early in the session are now flat on the day. yields now moving -- not moving much, only one basis point lower. non-cpi numbers today, but the cpi numbers tomorrow. retail sales on friday. once again flat on the day, once stronger earlier in the session. the index down by about 0.6%. jon: in the next couple of weeks, we are going to get a lot of different earning stories about why the market overall has been cautious. one of the performers in the s&p 500 has better-than-expected quarterly results we will talk more about that later. even with the dow, you have seen outperformance with coke. american airlines on-demand heading into the next few months. today, we have seen encouraging comments on the cruise sector coming out of ubs, which is optimistic about names like norwegian and other names rolling into trading today. we have a very specific st

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. >> welcome i am mark crumpton with first word news.plosive the husband of house speaker nancy pelosi was assaulted during a break in at the san francisco home. it happened early this morning just over week before midterm elections he associated press reports he was severely beaten with a hammer, paul pelosi is affected to recover. star quarterback tom brady and his wife are divorcing after 13 years of marriage. brady said they arrived at the decision

i am mark crumpton with first word news. president biden shared his thoughts about canceling the countries that limit in remarks at the white house. >> repealing the debt ceiling? what does that mean? we don't have a debt limits? no, that would the irresponsible. >> the president and republicans are heading for a showdown over raising the u.s. debt ceiling next year. if the gop takes control of congress. treasury secretary janet yellen is among democrats who back the debt limit's permanent remail. tobias first room --

i am mark crumpton. this is bloomberg. kriti: this is bloomberg. a historic drought swept chinese markets as fusion pang moved to stock leadership with loyalists. the temple is seen today with the golden dragon having its worst day since 2013. joining us now is tom orlik and ed ludlow. tom, you have built your career studying china. your initial take on this shakeup? tom: a couple of big takeaways from the lineup we saw emerging the end of the 20th congress. the first is it is clear we are entering a period of a man world in china. any man who could get anyone who could be considered an independent voice or a successor to xi jinping is missing from top leadership. the second big takeaway is the exit of the economics professionals. chang, yang, ching -- all the names considered to be economics professionals, probe market reformers -- pro-market reformers, all these names missing from the list of people who will form the next central committee. the assumption is that they will be stepping down from frontline leadership. there are -- those two points