we should not stop at market. all neighbourhoods of sf deserve red lines for faster bus services and safe sidewalks and access to shared' bikes and scooters without supply caps or vendor bands and of course the choice of safe streets. thank you for the staff for all their work and i hope we can bring this to the city. thank you. >> thank you, very much. next speaker, please. >> james seafort, see era reed. >> jeff hover. directors, thank you for the opportunity to comment today. thank you to the various. >> good afternoon, i bike to work in san francisco. i'm here in support the better market street project as the part of the vision for a car-free market street. this complete transformation of market street, the busiest corridor for biking, walking and transit, is an essential step towards our city becoming people-first, community-first instead of car first. the better market street project will not only redefine san francisco to follow in our footsteps and this project brings. thank you. >> next speaker, please.

invest in in the real estate market, the private markets are healthy. some of it is the central bank is very accommodative. people feel there is an ecb put which is allowing people to be more active with the economic backdrop. jason: brexit's a pacific -- brexit, specifically, and you get into investment committee, how do you model that out? 12 years ago when we set the business up, we saw a meaningful shift in deal flow from the u.k. to the continent, so probably 65% of what we were doing five years ago was u.k. ased, 50% or lower, you see meaningful slowdown in transaction volume that has obviously affected capital flows. about sort of generally the credit market out there. how are companies feeling given some of the macro uncertainty? michael: there is a huge dichotomy right now in the world because markets crave certainty and we do not have a lot of it right now, and you cut look at what is happening to you could look at what is happening in the economy -- you could look at what is happening in the economy. questions about the health of the consumer

loan market.here are pockets where you can find good spread and risk, but similar to the high-yield market, you have to be careful. kathy: we have not liked the loan market for some time. why are you buying loans when rates are going down? jonathan: that is my question. is this about floating rate and no appetite for it or credit risk building? kathy: both. you see the decline in credit quality, you have seen falling rates, and the covenant light business. you are seeing investors push back on it, deals not getting done. the combination -- why be in the loan market? colin: jim's point about finding the right bonds is the most critical part. in general, do not like leveraged loans, but to the point that it behaves more like the high-yield market, you have to make sure that you are involved in the right securities. i am getting paid for the fact that the securities now look like true high-yield. jonathan: some of the issues we are seeing in leveraged loans are similar to what we saw at the back end

in the loan market. would not say by it in isolation. across the markets in credit, there is a lot of this version. if you can utilize different --ions, you can capitalize creating good income and avoiding downside risk. jonathan: kathy, build on that. kathy: i disagree, to be perfectly honest. when and if the market turns, this differentiation will not help a whole lot. is,loan market being as it i would say you are better off moving into high-yield then you are staying in the loan market. looking at high-yield, we have had three scares. we got close to the type of the year. did not even get to 4.50 this time. what does that tell you? kathy: the search for yield is still really intent. as the fed lowers rates, people will continue to pile into things that offer yield, irrespective of the quality. that is why we have been cautious on high-yield as well. jonathan: any reason to believe that demand goes away? to breakpreads start out toward 4.50, the buying comes back in. any reason to believe that goes aw

have become low beta markets.key to unlocking things in terms of releasing that u.s. dollar bid, creating more activity on the trade front and making emerging market and journal look appealing? in general look appealing? >> i'm sure a resolution in general would produce short-term momentum, but we are not clear that is the underlying problem with emerging markets. first of all, if you look at china,ng markets ex- exports, markets, they have not done particularly well, so we think the real issue is the slow down in industrial production in the slow down in trade. caroline: when you're looking at the conviction because you have, russia, thailand, are you looking at foreign assets, foreign-currency-related assets, denominated dollar debt in russia? investors,nly equity so we look at the equity markets in the currency. so on both thailand and russia, obviously from the perspective of western political orthodoxy, would not be considered ideal government formats, but it turns out both from the perspective of macroeconom

market. >> the downward yield direction. a lot of bad news already in there. therefore you might see a bit of a bigger bounce higher if you get a positive number. again i think if you see a number around 100,000 -- there is no magic number here. i do worry though a number below 100,000 is clearly below the break even rate at which the jobs market is expanding and will tell that you there is real risk the unemployment rates rise for bad reasons. if you see that print i do worry the market will be believes believing that there are higher risks of a recession in the near term it's not the baseline. but if you see the jobs market and consumer go, we know the consumer mab keeping the economy resilient right now. if those factors fade i think you need to worry about the permanent slowdown in the u.s. >> let me ask you, gm, 48,000 workers currently still employed,right, although i think they are getting $250 a we can when does that bleed through how long does that last before maybe the suppliers or

the market. stocks have been ramping in the past 30 minutes, got above the closing high on the s&p on a big day for the semis thanks to intel. all but hitting a new record, as well. names like jp morgan, so many more hitting 52-week highs today. we are about a point away from a new high. is this the beginning of that long-awaited ramp that we've been waiting so long for >> what drove the market was off to a decent start anyway and then the china news. then the market went to hyperdrive. so if that's the case, if we have a meaningful agreement with china, we really don't know the details, that could, in fact, increase the trading range. so go through it. i thought there was a bias of the upside slightly. some numbers are good, some are bad. it's very encouraging when you get a print like amazon to see it recover as it's recovered. and i've seen this that the market is more than any quarter i remember is being rational how they are looking at stocks, rewarding ones that should be rewarded, looking

global market. lowest manufacturing jobs gained, slower hiring, a drop in business hirings, and the worst services index in three years. take a listen to what fed speakers had to say. >> you have idiosyncratic the laborat affect market and inflation rates. it is not just the labor market. >> trade uncertainty has been very important for the weakness in manufacturing. i have talked to so many business executives, manufacturing executives, who have indicated there is a good deal of uncertainty. look at the cyclical part, it certainly is correlating with tightness in the labor market. >> we are seeing signs of the economy slowing, and we want to get monetary policy positions to keep the economy growing at a sustainable pace. >> everyone has been more cautious, and we have not seen the increase in the business inspected on thepected on heels of -- we expected on the heels of tax cuts and mobile tax reform. anna: some of the fed presidents commenting on a weakening u.s. economy. disappointing data forms

>> the stock market goes down. >> if we head into a recession the stock market will go down. >> the dialog -- when you talk about the consumer the consumer -- >> status quo on trade which is nothing. >> right. >> and earnings trickle out disappointing. >> it's -- >> that's different. that's not necessarily recession. >> always a dialog that accompanies the no action, right. if the dialog is negative, if trump comes out and says, i'm slapping those tariffs on that i delayed, then the market is going down that's what it's going to be in terms of the consumer we keep relying on consumer. the consumer sentiment numbers have been coming done. you saw them pop in september and i bet they will come down more because of all the acrimony in the headlines you've seen job growth is slowing. yeah, we're at full employment now, but the market knows that i think you can't rely on the consumer so much going forward that they're going to weaken. >> that's an obviously big question is whether the consumer which has been the pilar of strength, will weaken. >> there's an argument that household format

the job market remains strong.he unemployment rate has been near half century lows for year-and-a-half. the pace of job gains has eased this year but has remained solid. we expected some slowing after last year's strong pace. participation in the labor force by people in their prime working years has been increasing. wages have been rising particularly for lower paying jobs. people who live and work in low and middle income community tell us that many who have struggled to find work are now getting opportunity to add new and better chapters to their lives. this underscores for us the importance of sustaining the expansion, so that the strong job market reaches more of those left behind. inflation continues to run below our symmetric 2% objective. over the 12 months through august total pce inflation was 1.4%, and core inflation was 1.8%. inflation pressures remain muted and indicators of longer term inflation expectations are the lower end of their historic ranges. we're mindful that continued below target inflatio

we're showing you a cross section of what market street looks like with better market street. we're still keeping four lanes of traffic, two lanes in each direction and as we mentioned already, market would be car free east of 12 streets. what this means is that we'll be able to make the centre lane muni only. meaning there would not be a bus and taxi lane like it is today. taxis would be sharing the curb lane with local buses, commercial vehicles and paratransit. we have a bike lane, continuous from octavia to the ferry plaza. typically as christina described it's eight feet wide but we've had to make design modifications. so what this graph is showing, on the left side, where we have a curbside transit stop, we have narrowed the bike way to about six feet wide to fit in that curbside transit stop. with the bicycle way going behind it. on the right side, where we have a centre boarding island, we have maintained the sidewalk level bike lane at about eight feet but that buffer space is eliminated. however, throughout the whole corridor, we're still maintaining that street life

the new market is close to the nash nash national market. new development -- national market.eriod also, during this of a couple years, we have seen resale inventory slowly rise, binding higher. not at a record level but reflects that sellers have more competition and that is part of the problem. vonnie: the median sales price is down 8.2%. the average sale price is down almost twice that to $1.656 million. is there a neighborhood that is better than another when you're into the median market? isnie: the answer to that probably no because what we are ining across all segments the markets and neighborhoods is that this is a uniform impact. we are seeing impact cool across the board, whether it is under a million dollars, not to be cavalier about starter markets, and all the way up to the high price points. this has been a market soft at the top and tighter as we move lower in price over the past few years and that continues. we are seeing that weakness carry lower into the starter market then we have seen in the past. vonnie: we are also hearing that the ultraluxury and luxury

equity markets -- bright red. equity markets have had a tough session. down-way throughout the session. stoxx 600 down 2.58%. the trajectory has been down and on decent volume. let's take a look at the major markets around europe. the ftse 100 is taking it hard today. down 3.12%. the pound has rallied this afternoon, which may account for some of the losses we have seen. oil stocks taking a big chunk out of the market. the cac 40 down 2.9%. it has been a steady progression of negative news for the european equity markets throughout the day. the bond markets look different across the atlantic. let's take a quick look at what we are seeing in terms of the sector breakdown. every sector in europe is a negative territory. if we look at the winners versus the losers, many more stocks on the losers side of the ledger. real estate is the best performing sector in europe, down 1.63%. travel and leisure down as well. ,elecoms and food and beverage some of the more defensive names doing better than the market. the bottom end looks like this. this is where the real

and the market's a believer right now. we're about 90 minutes away from the big meeting between the two countries. can they deliver on this deal? we'll debate that. plus the good vibes are flowing from the shores of the uk today. could a brexit deal get done and how much as this concern been weighing on global markets all that plus roku keeps rocking. how much would you need to be fied give up going and is china ready to make nice with the nba again it's all ahead rapid fire. seema has the numbers today. >> market hopes building around trade talks that are happening in d.c. take a look at the major averages at this hour. the dow and se&p 500 to snap a three-week losing treek. we're up around 1.5%, best performing sectors industrials and materials as investors keep a close high on those trade talks in d.c., we're now about 2% away from the all-time highs we hit back in july. now, following a very strong session overseas, this really has been a global market rally. we have the shanghai composite, markets in japan closing hig

markets. the dow is up by 70 points thanks for watching. "closing bell" starts right now. >>> welcome to the closing well. i'm morgan brennan it has been a residualer coaster day on wall street weak services data that sent the market plunging for the third straight day then the bulls charged back in, sending stocks back into the green. the dow is up 76 points. s&p is up just about 18 points where will the market end at the close? we have 59 minutes to find out >> i'm david faber in for wilfred frost. let's look what's driving the action a weak read on services sector that number along with some other weak data pushed the probability an october fed rate to 90% technology leading today's come back nasdaq is higher up about 1%. we got our team of reporters standing by. they will break down today's whipsaw market action. first joining us is stephanie link interesting day we've had here we were on together at 10:00 market immediately went down i called almost a percent. here we are back up. what do

that's what we're seeing in global markets generally. market bull market ofble pessimism.hat's to reflect the weak data we've had, worries around policy, out of ammunition, ideas. and also the trade side, the manifestation of the political uncertainty we're facing. when you put that together and you're thinking about building strategy, many investors nervous, anxious about the situation. that's obviously going to have a bearing in terms of how markets perform, going forward. matt: are you expecting a recession then? trade has been a major concern we've seen for the economy, of the sleet a real dampener. do you think we'll see a recession due to it? joseph: good question, the question in many respects. i might reframe it a little bit. the critical issue for me is not to i think there will be a relation -- recession, but what will the market think? is the market fearful of a recession and economic weakness? in relative to that scenario, how do we see things potentially playing out? and what i would say is, this bull market and pessimism, the pervasive feature of investment m

two, the treasury market, relative to other large scale developed market, sovereign bonds representshe most attractive relative yield. yes, the ag in the u.s. is up 8.5%, long treasuries are up 22%. it will be hard for that asset class to replicate that same rate of return over the next 10 months that they have produced over the year to date period. but it still behaves as a really good portfolio hedge. the correlation to risk assets remains solidly negative. i don't think that will change anytime soon. the factors that would change that are an abrupt move higher in inflation which seems unlikely, abrupt change in monetary policy which seems very unlikely. for the next year or so, i think it's difficult to see the correlation changing. therefore, the expected return is not what it was 10 months ago, but still a good portfolio hedge. caroline: james, do you agree that the 60/40 works looking at bonds and equities? is the hedge still working from your perspective? james: i agree with bob, the risk to bonds, there would be some large jump in inflation. it is difficult to see where that

really not market is a functioning market at the moment.tate owned banks partaking in massive intervention. the treasury has killed the offshore market by warning local banks not to fight liquidity. -- foreigners are watching this, trying to figure out how best to play. two things i think are important. develop an on the ground in syria, whether we see a halt to hostilities. the second is what happens in terms of u.s. domestic politics. the market was surprised by the sanctions this time around. it was driven by trump's problems mystically with the impeachment. -- problems domestically with the impeachment. he held the line because of his close friendship between trump team he had no political capital left. he had to throw in the towel. it looks as though or sanctions are coming down the pike from the house. he certainly has no friends in d.c. at the moment. guy: we have some breaking news. vonnie: on g.m., it looks like the uaw has sent a proposed tentative agreement to g.m. reported on the program yesterday. there was a good sign there wa

stock markets, not the economy. it is all about central banks. the more we see cuts and qe, the more we will see markets to rally. this is not the time to get out of the equity market. shery: we talk about qe in europe, what about with the bed? -- the fed? we have seen about expansion because of funding stress, could we get real qe? markus: i talked to my colleagues about this a lot because we have traders that look at this market every day, this is something that i do not necessarily get involved with, that it is important to understand the plumbing of the system. on the one hand, qe would solve some of the problems, on the other hand it would exacerbate the problem that the fed has for losing control, because it would pull yields down in the lower, which would force the fed to cut rates. i am not sure that qe is the right answer to the broader problem. it could solve the repo market issue but could not solve the problem of the fed losing control over the curve. mike: we are finally seeing a crack in the dollar ral

market to companies like samsung that don't assemble phones for the u.s. market in china. i think some kind of interim deal or mini deal with a plan to continue talking would be the best outcome that we can get here >> how much does hong kong complicate the situation not just the fact the protesters took aim at some of the chinese cops over the weekend but the fact you have this nba mail storm because a general manager tweeted in support of the pro-democracy protesters china's response was to shut down a lot of the business that the rockets were doing this that country. what message does that send to the rest of the business community in. >> it's a strong message we've seen it before with marriott these political issues are ones that can be a mind field for american corporations. having said that, american corporations operating in china have over $300 billion worth of sales each year. companies are fienldsing a way to do it a very large multi-national said to me recently, they are one third consumers in the world they are where the growth is there's no way we're not going

the market certainly is. why did the market get this one wrong? the market was much more concerned yesterday with the numbers after the bell. shares were still down, but you are seeing a bit of recovery from what we saw. you are right to mentioned the drop in profit for the first time this quarter, going back in about two years, is a big concern. that is the key in that chart, capex. the company is back in investment mode. capex is up 40%. i think what was worrying to analyst is the comely said they were going to a best -- going to invest about $1.5 billion in same-day delivery in the crucial holiday quarter. that is starting to take a little bit of a dent in profit. i think the market was just what's whatgure out with this quarter. ishink they see that amazon continuing to invest, and when they do, it eventually leads to growth, and eventually leads to profit, so analysts are hanging onto that for now. romaine: one of the other bright spots for amazon in previous quarters had been web services. growth still pretty high, but not necessarily as hig

markets close to their records.s to watch out for, with equity breakout quite significant according to some charts. sectors,e stock and retail doing well. cars, basic resources doing well. mining sectors having a good day despite london. the problem is, the bottom end of the market, heavyweights are under pressure. anheuser-busch in just a moment really under pressure today. inck down hard, particularly the states and china. food and beverage under pressure, that is a bond proxy story. individual names. barclays in just a moment. we broke the numbers on gucci last night. stock responding strongly this morning up 8.12%. uber low. it is having problems with one of its clancy titles, trading down 16% today. this, abhts amongst inbev down 10.44%. earnings driving the market, leaving european equity indices at headline level fairly flat. thing in the u.s., is momentum. we didn't have that first this week. we broke through the record high. a lot of folks looking at that key level. psychologically, they want to see if we c

we had that brief panic in the market. the market is certainly focused on demand now.oth economic data, weakness coming out of the united states, weakness in germany. of course the ongoing trade war. brent and wti, though they are up this morning, they are down nearly 6% this week. it's the biggest weekly decline since july. that is one of the big questions i asked a lot of opec and o let -- opec plus ministers. what are the growing risks to growth demand? all they have acknowledged there is this gloom and doom, they were not ready to signal a change in strategy. take a listen. >> about some forces we are seeing. >> they are not focusing on supply. >> i'm sure demand will be growing. >> we will be able to take a decision to reduce or increase the production. however, a gloomy picture. >> how soon we will leave the volatility of 2019 behind? >> we will have to stay and watch how things develop before we react. >> it calls for our meetings to take any decisions. >> the biggest question facing this group is what to they do in the first week of december? is the status quo

then you also have the digital high yield and emerging markets platform which is market, mktx performing well within the capital markets, four names that will work right now while you're waiting for morgan stanley and goldman sachs to have the eventual turnaround. >> that one up 70% let's go to sue herera who has the headlines for us. >> thank you, scott. here's what's happening. uber and lyft drivers protesting over pay and working conditions bringing traffic in new york city to a nearly dead stop at rush hour this morning some cars attempted at times unsuccessfully to squeeze past the drivers' caravan which appeared to be dozens strong. >>> social security says million of retirees will get a 1.6% cost of living cease in 2020 about $24 more a month for the average retired worker retirees say the inflation yard stick used to determine the annual adjustment does not adequately reflect the cost that they have to pay >>> cuba gooding jr. has learned he's now facing a new undisclosed charge in his sexual misconduct case. a development that came to light as juror selection was set to begin fo

what does it mean for the jobs market and the equity market?is bloomberg. ♪ everyone uses their phone differently. that'shy xfinity mobile lets you design your own data. you can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. all with millions of secure wifi hotspots and the best lte everywhere else. it's a different kind of wireless network, designed to save you money. switch and save up to $400 a year on your wireless bill. plus, get $250 back when you buy an eligible phone. that's simple. easy. awesome. call, click, or visit a store today. ♪ alix: this is "bloomberg daybreak." happy wednesday, everybody. we had a 1% selloff in the s&p yesterday. the risk aversion is really only felt within the equity market. european stocks getting hit the hardest. german institute coming out and lowering their german growth forecast for this year and next. in other asset classes, it doesn't really feel like. that much of a panic you do have a stronger dollar -- feel like that much of a panic. you do hav

as longstanding free market orthodoxy the us has long advocated for opening financial markets around the world to capital the fact that this discussion is even taking place is shocking to the whole international finance community. now with more on the field of battle for this global capital war we bring forward chief strategist of the trading welcome back now a treasury person says now that there are currently no plans to block chinese companies from being one listed on u.s. stock exchanges but they also say there is no time frame for implementation further fueling the uncertainty so is in your view is this a real threat or is this more of a bluff or is the uncertainty that the he can create the mr president term can create from the suggestion is that the move itself just to create more uncertainty . i think it's part of from you know art of the deal i think it's you know it's not that's in my opinion that's never going to happen there never the less these companies because it just it doesn't make sense it takes away money out of the flow of our markets so they're not going to do tha

we have a number of developed markets and emerging markets.e were able to have them both growing quite nicely. we started to enter into a number of new channels, launched some innovations. it is a wide spectrum of topline growth initiative that we kicked off a year ago, and so far we seem very good results from that. caroline: that strategy of less cost focused, more topline growth focused, is interesting at the moment given the backlash to wework. in no way am i trying to compare or contrast your two businesses, but there is an element that investors focus more on cost discipline then topline growth. we do both, obviously, but i would say in the past, we were focused more on how to drive our bottom line to our cost focused. drive are trying to to more of a topline growth, which is a healthier equation. a business like ours needs to grow around the world, needs to sell more volumes every year. that is what i would call a virtuous circle. we invest more in our brands. we get volume growth, net revenue growth. that translates into more margin. p

come to the market.nherently, the market is more levered. thirdly, instead of two years ago having a rising rate environment, we have an environment where libor is declining. all of those things are negative from a loan market perspective. there are couple of different stories, which are not different from the rest of the broader markets, including credit. higher quality is still doing ok. it is the lower part of the market that has bifurcated and has been pretty negative. we continue to be cautious across the market. loans generally look more like a secured high-yield bond market than the historical bond market. there are pockets where you can find good spread and risk, but similar to the high-yield market, you have to be careful. kathy: we have not liked the loan market for some time. why are you buying loans when rates are going down? jonathan: that is my question. is this about floating rate and no appetite for it or credit risk building? kathy: both. you see the decline in credit quality, you have s

share gains across the business market as well as the consumer market.s as if you are convincing some of the shareholders. freenet, standing firm with their objections. what is your relationship? are they engaging you? olaf: they initially supported the project and also supported the price and then made a u-turn february of this year. this was a big surprise to the board and management of sunrise the probably have more to do with their own issues and financial challenges. since then, they have come with a lot of different arguments but fundamentally, their arguments are not right and other shareholders are clearly choosing the camp of the management and the board, because the synergies make sense, industrial logic is there, and the dividend growth that is promised by the new company is very attractive. anna: thanks for joining us. the ceo of sunrise communications trying to get shareholders on board. the program, we will be watching for what jerome powell has to say later on today and we are keeping an eye on the u.s. and china and on their trade convers

here is how your money, markets and global markets are looking dow futures are indicating that the marketsill drop 136 points right now at the open. remember, what we have seen at 5:00 a.m. is that this trend tends to get magnified unless w see big data points that change it around. not saying things will get worse but we have seen this tend to accelerate as the traders come into their desks in new york now in bond, no big economic data out today later on this week, yes. and no earnings out today but of course the big earning season hard to believe already kicks off next week. right around the world you had china and hong kong closed for a national holiday the japanese market down fractionally .16 of 1% and south korean economy rose and australian as well in europe, not a major trend that we are seeing anywhere overseas yeah, there's a lot of red but the numbers there are quite small. >>> so, there's your set up. let's get to the news and begin, where else, with trade and the likely reason why futures are pointing to a lower open chinese officials are report lid growing hesitant to pursue

market would go up incredibly. big the market didn't care they just seemed to care about the deal with the usa and china. and that's okay with me. so we've had a tremendous, really, negotiation, a very complex negotiation but something that's going to be great for both countries mr. vice premier, would you like to say something >> translator: firstly, on behalf of the chinese government we would like to extend our thanks to president trump for the congratulatory message for the 70th anniversary founding of the people's republic of china. we very much agree to get the china/u.s. economic relationship right is something that is good for china, for the united states and for the whole world, and we are making a lot of progress towards a positive direction of the recent days, i have had very good communication with both ambassador lighthizer and secretary mnuchin and mr. president as you just mentioned we have made substantial progress in many fields, we are happy about it we will continue to make efforts. and thank you

that unnerved markets around the world.he dividing line between expansion and contraction and i want to show you another thing. typically, this services index tends to rise higher than the manufacturing index, so when it goes to 52 .6, it is a more serious signal. that is one of the things that is important. one of the problems is people are wondering to what extent is not just the trade war damage for manufacturing possibly spreading to services in the broader economy, globally, look what is going on. three major countries. go back to the library with me now and you will see that you have the u.s., china, and germany all below 50 now. of course, china not quite so bad. there's the u.s., but poor germany, last week, that really got the markets going when people saw that. today, once again, bond yields tumbling. german bond yields, u.s. bond yields because it looks like the damage is spreading and that will have big implications for banks. shery: we heard from some regional fed presidents. did we get any clue on how they mig

has held up the market buy backs. we'll have a lot this year, finish the year strong with buybacks other than that, there's no corporate cap-ex that peaked in the quarter of 2018 nothing exciting going on. cfos are pulling back. it's a tough time. diversified portfolio is looking pretty good. you're doing okay. >> we'll talk to you more on this market sell-off the next hour or so, covering all the angles today courtney reagan is tracking the nasdaq and deeper dive on the economic datea. bob to you first. >> it was rough right from the outset, 5-1. same now here. we saw transports week all day, energy retail. lenar had fantastic numbers overall. that's a new high for lennar and pulte even though it's down late in the day even though general motors numbers were better that's found as well. housing strong, auto is not so strong difficult parts in the state of the consumer right now guys, back to you. >> bob, thank you very much. nasdaq on pace for its lowest close since august courtney reagan is watching the movers there

the market is expensive. everyone wants the market to break out zdecisively or break down all the big names, 50% normal volume half the normal volume this week guys, back to you. >> bob, thank you very much for that see you later in the hour. shares of amazon are under pressure, although well off their lows of the session after an earnings miss, only down around 2%. we were down as much as 8% earlier. josh lipton has details for us hi, josh >> so, wilf, amazon delivered guidance that spooked investors. its forecast for q4 operating income well below what amazon expected that as amazon is in spending mode to make good on its goal to offer prime members one-day delivery the stock in the red, but as you mentioned, wilf, well off lows rbc's mark mahaney was on cnbc earlier today, saying, he would have bought the dip. it's the kind of investment, mahaney is arguing the company should make as it deepens the mote around its businesses guys, back to you. thank you for that, josh let's send it over to mark santoli for

emerging markets from mt.tt in new hampshire. >> first more bullish on em debt than em equity in em debt you want countries that have high, brazil and indonesia and less exposed to the china trade wars >> lapels and everything >> no comment on my dress. >> fabulous. >> i won't look at your phone. >> got it going on today >> all right john rand in st. louis, missouri. baba too risky of a play >> no. late september, rand, 184 and pulled down into the low 160s. yesterday unusual activity in this name. they were buying the 185 calls, i believe. 180, 185 anyway, stock is up another 3 bucks today. i'd stick with it. >> phone is blowing up now their phone is blowing up. >> talking about the right side of the desk. >> all right, josh, brandon in georgia tdoc >> yeah, so, i own this one. very volatile but trading in a range. sub 5 billion dollar market cap. but i'm going to tell you something. amazon announced they're going to make virtual medicine available right now as part of their health care push for their own emp

markets as a whole. spending during the china week long national day holiday that was robust coming in at growth, returning to groelt of 8.5%. compare that with 6.7% decline we saw last year that's positive. big question moving forward is whether this represents just a flash in the pan, a one off or whether that's sustainable and continues. we should get some idea when we get the services sector pmi later on today and that should give us an indication how the chinese consumer is holding up i doubt you'll see any real conviction either way in the china markets until we get some real clarity on the final outcome of the trade discussions. back to you. >> thank you this week long holiday is typically a big spending week. we see a lot of travel in the casinos and in retail stores in china. >> look, what's happening in hong kong is particularly sad. there's a couple of things that it will affect it will affect real estate prices there's a huge property bubble you're seeing outflow of capital and people this is

markets >> there is a big difference between the stock and bond markets.o you believe the ecb and the fed have the ability to help i'm not talking about the stock market can they help those? >> i really don't think they can. these consumers at the moment are not struggling with high debt costs there is not the pent up demand to go out there and spend at the 75 basis point cut that will not effect credit card costs or auto loan costs there is not that margin to go out and spend right now. i don't think that the central banks can do a lot to help in the economy. that's why we are now shifting the narrative towards fiscal stimulus if we do get that coming down the pipe, that is something that can help the real economy and can help the direction going forward. >> it is october 9 you've heard brexit coming up october 31 i bed if you said to your boss, i'd like to take some is time off between now and the end of the month, they'd say you are crazy. how are you preparing? if we get the hard snap on october 31 >> the brexit conversation is difficult. one of my col

market.re you seeing value in equity stocks? chris: we are seeing value in the u.s. and european market. it is selective value. we are not of the opinion there will be this great rotation but we do think select value opportunities are going to arrive. we are finding that in financials and the banking space. for the most part, what we think is many investors were too far into the global recession. now that we are having earnings coming out what we are seeing is value stocks performing well and numbers better than expected. nejra: with the u.k., are you waiting or already putting money to work in certain parts of the market? you mentioned financials, are you looking at financials or other sectors that might be of value? christopher: we are looking at european financials. it has been our opinion that what might happen if u.s. bank start to perform that european banks would start to follow suit. to a certain degree, we're seeing that transpire. we are finding value throughout the world and we loo

markets, but emerging markets as an asset class.e see this as an opportunity if you look across sectors and companies. alix: i started this segment talking about buying the short end, so i will end it talking about the long end. do you buy the long end? do you go long duration? sebastien: it is pretty much the only place you can get safety in portfolios at the moment. that explains in part to this unusual inversion of the yield curve. i say unusual because the yield curve has inverted before, but right now the thirst for duration, the need for protection in portfolios with global rates being so low is driving parts of that inversion. so the answer is that there aren't many asset classes directly at a broad level that can provide safety and diversification in portfolios, so duration has to be part of the mix for diversified, long-term investors. alix: really great to get your perspective, with lots of headlines coming out. sebastian page of t. rowe price, thank you very much. we do have some breaking news for you. anthem sports will

and in the single market and pulling out of the customs market.re are many question marks regarding that. what is clear is that many think it is too little, too late and there is not enough time to get a deal done in two weeks. the scenario is likely that there will be another extension and this is still very much a political, domestic story in the u k that needs to play out before a final deal can be reached. manus: thank you for that's a t update. that succinc kathleen is joining us. how likely is the prospect of multiple whistleblowers coming out against donald trump? reporter: the issue he faces is that he has been portraying this as a rogue person out to get him and maybe in league with the democrats. the more people that come forward, now we had the second whistleblower potentially backing up the first whistleblower story, the more credence it lends to the democratic arguments. it couldhat potentially be very problematic for the president. we will have to wait and see what the second whistleblower has to say. whether there are new facts or a

columbus day has bond markets closed.quity markets are taking a signal from things like the fact that it is earnings week again. q3 earnings beginning to come in all week. , but&p 500 barely changed there are some things moving including the likes of nike which received an upgrade. -- weaker by 2/10 of 1%. reports, well the will see how that plays out. is weaker byira almost 1%. we will talk details in a few minutes. -- there was a deal. the active investors here. they have agreed to sell their management services business to some private equity investors. european markets, european stocks are down by half of 1%. the pound is also down. we had a massive rally on friday. the turkish index, the stock market, down by 5%. what istalk more about happening with turkey and syria later. let's get to the main story. china, once more talks have fallen citing the president's phase one deal. steven mnuchin says more talks and negotiations are on the calendar. we are joined by george saravelos, deutsche bank's global head of fx resear

markets.alfe about an hour and a into the trading day in the u.s. holdingmind, what's this up is premier league the defensive's and the utility sector, some consumer staples -- holding this up is primarily the defensives in the utility sector, some consumer staples. mcdonald's providing a little bit of a drag. take a look at what is happening in the treasury market. bond bulls undeterred. a lot of folks said this is going to be a dip buying opportunity, and that is what you are seeing. a lot of uncertainty that had driven the bond rally prior to that selloff, brexit, u.s -china trade, those have not been resolved, but you will see the bond bulls remain active in this market. we saw the dollar knocked down a peg. you are going to start to see the price action like this. take a look at gold. gold actually had a little bit of a bid earlier today. now it is flatlining, but holding at that $1500 an ounce level. a lot of analysts say that when you talk about the fair value of gold, they are looking

>> i like the marketing on it.sounds a lot better than just a partial trade deal skinny deal. >> unsatisfying. nobody wants a skinny -- a skinny deal, but that's all -- is that the best we can hope for? >> is china taking all of these other issues off the table what happens >> the issues we care most about, oh, yeah, we're not talking about those but we'll buy more soy beans >> 10 billion. >> maybe a skinny deal is better than no deal, an armistice, a truce. >> kick the can down the road, we'll come back later, right >> that sounds much worse than a skinny deal, yeah. >> eunice, thank you we will check in with you a little later. >>> in the meantime, the market's watching all of these global trade developments with high level negotiations between the u.s. and china set to begin tomorrow right here in the united states. joining us right now is eric knudson. charles campbell who's trading desk specialist at mkm partner and mike santoli, cnbc's senior markets commentator. mike, does the market want this skinny deal so

for emergency markets.le the two may not have that much to do with each other, and we are looking at the rig counts as brian said that have come down, we also have to understand there is a certain interest elasticity for energy. we are seeing mergers, acquisitions in the oil field, people are not drilling as much as they were why not buy a going concern rather than one you have to drill for? i think the trade is looking right now and saying, okay, we are down, but are we getting toward the $50 range where the market should find some support. >> do you think lower oil prices hurt the u.s. economy more than help them right now? >> i'm sorry i didn't hear that. >> do you think lower oil prices hurt the u.s. economy more than help it right now? >> well, lower oil prices -- let's define lower a year ago we were about $7 lower at the beginning of the year, so we've come back quite a bit in the oilprices so the answer is not -- it doesn't hurt it because it puts money in a consumer's pocket at the end of the day,

the market switched. once they became possessed with consistent earnings, what happened is nobody wanted to buy chewy chewy cocoa puff you still see a lot of ups men taking it. well, let's just say the man's man is get giving me a paper towel. in a brutal market, you need a straight forward consumer staple play and you know what i think? i think mccormick rocks! there is much more "mad money" including the nation's biggest payroll players. what can paychecks tell us about friday's job report? i'll as the ceo. and then charles schwab helped usher in the golden age of low cost online trading. could it kill the model and tonight's version of "the lightning round. stay with cramer your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has bee

the bond market not moving much. future and earnings not hurting the bond market. 1.77%. let's start with asia. japan continues its slow grind higher up now i think eight of the last nine sessions. in the nikkei and the european markets kind of similar. france mildly higher, ftse mildly higher. not a big trend either way back to your top story that is amazon, as we showed you. that stock getting hammered. down 5.5%. i guess that is relatively decent amazon was down as much as 9%. that stock prepared to show as much we talked about ford and mai marriott and fedex joining us now from london, elizabeth, what was the primary reason for the drop in profit for amazon this quarter? >> hi. that chart is not a pretty picture. the one-day shipping program brought an increase in shipping costs. they are said to spend billions in the holiday quarter to expand that guidance of higher spending is looking to have negative impact it will also increase spending on aws and sales force for on line advertising business. overall this drop in profit shows they are a little less focused on prof

the market is positive.oing everything it takes to buy back. >> what are you doing in north america to address these issues, and when do you see a turnaround there? >> it is actually not america. we have two divisions that are doing very well. there is the active cosmetics division. with two other divisions, consumer and luxury, and we are doing what we know what to do in terms of new launches, new communication, better commercial excellence, and we are confident that not this year, but the year -- because the year is almost over, but that next year we will see improvements. in terms of fragrance -- is that what you are going to keep, these new launches continuing to drive growth into 2020? >> i think so. we are very happy with the launches on the fragrance side. countries are in the top two, and it does not equalize at these two fragrances are very strong. we are also launching a new valentino fragrance, and we have soon the acquisition of two fragrances from france. boosting ourlly fragrance portfolio to m

i bike market street every day multiple times. and the way it is right now i see the dangers that could bring to our cyclists. so would love to see this that came out more friendly for bikes and especially for family and kids. that's a dream for me to happen. and also the eir is complete and adequate. so hopefully that will happen. thank you. >> any other public comment on this item? come on up, please. >> i'm the executive director of the community benefit district. we are a property assessment district representing 30 blocks of the tenderloin including three and a half blocks of market street between mason and turk. tlcbd representing residents in that district. our core purpose is to lead the evolution of the tenderloin into a vibrant community for all. better market street including its pedestrian and bicycle improvements, makes significant improvements to transportation improvements. there are tens of thousands of people living in our district including children and seniors. they deserve the proposed improvements and safer st