the global head of bank of america merrill lynch. that information and drama coming through delivering this new proposal it has been hovering around the 1.22 mark. what do you pin that down to >> there is still a lot of uncertainty. there has been progress over the last couple of weeks at least they are talking. there is a proposal on the table. all of these are positive. we are not really close to a deal there is still a lot of details to be decided. i think the next few days and weeks are extremely important. let's see if the eu is willing to discuss the proposal in detail let's see within the uk if this can have a majority in the department the question will be, which of these details have to be finalized now? which ones can we leave during the long transition period we have ahead of us when we had the all uk backstop, a lot of details, we didn't need to discuss them. now that uk has come up with the proposal there are a lot of questions that need to be addressed. >> the fact that the prime minister has zeroed in on this one aspec

coming up in the next hour, ajay kapoor, be they merrill lynch head of em strategy.e are moments away from the ecb rate decision. i want to get a quick check of the markets. s&p futures are at the highest of the session. the dax in germany pretty strong , mostly geared in the manufacturing sector. in other asset classes, not a lot of movement happening. we are waiting to see what happens in the ecb, but more importantly what happens with the press conference. yields in germany at -38 basis points. the curve continues to get steeper. what do you do with that? does it say anything about growth, or is it more technical? crude, a little bit of risk off by 0.2%. $1.11 is where we trade on euro-dollar. is there a euro trade to make? jens: i don't think there is a euro trade to make. the question is whether lagarde will look for more stimulus, and then there will be a trade. she will have to go aggressive on the negative rates to generate another eating move. alix: here we go -- another easing move. alix: here ago, on surprise. deposit facility unchanged at -50 basis points

bank of america merrill lynch lacing up its kicks on nike's growing sportswear business and its jordan brand which analysts say will continue to dominate the court in china because they just love michael jordan even though he retired from the nba years ago. nike up a percent at $94.92. nike setting records, but is facebook libra stalling at the gate? take a look at the picture on your screen. okay? what do you see? is there really that much of a difference between either of these logos? we will tell you why this image is creating yet another stumbling block on what's about to become an all-out facebook crypto pile-on. the claman countdown is coming right back. ♪ sometimes, they just drop in. obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪ to the wait did frowe just win-ners. prouders everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines. mix with unlimited, and sw

the bank of america merrill lynch note, and they have a buy rating.ngraded at jefferies. second-half free cash flow estimates are not seen meeting guidance. matt: annmarie hordern, looking at your individual movers. let's get back to the story in china. xi jinping has kicked off a massive military parade to mark 70 years of communist rule. he pledged complete national unity as democracy protesters in hong kong begin to gather from were demonstrations across the city. >> we must remain committed to the strategy of peaceful reunification and one country, two systems. we will maintain long-term prosperity and stability of hong kong and macau. matt: celina is in beijing and stephen engle is in hong kong. what has been significant about today's parade? beijing has been on tight security for weeks and weeks leading to a massive parade featuring more than 100,000 people. celebrating about 70 years of communist party rule, one year longer than how long the soviet union lasted and it is about showing a massive transformation of china from an impoverished state

in new york, manhattan bank because they can get a percent and those banks lend that money to merrill lynch who lends it to my wife his grandfather and my uncle. for margin loans. so the money is pouring across the country. with local banks using their deposits and other funds to lead to the new york brokers market. glasses outreach. the diesel deeper and it gets worse. these 12 reserve banks are lending to the banks in their areas to lend to the new york city banks to lend to merrill lynch to lend to the customers. the reserve banks are buying the paper the loan paper, the commercial banks in these different cities have lent so the reserve banks are funding this huge flow of money to wall street. there was a system that glass created to decentralized things and have local economy supported has now being used as mechanisms to get money from the countryside to wall street. glasses outreach. because of the floor of the senate, he writes editorials, and above all, he goes to the federal reserve board which he had created, as of this outrageous and it's not by the system that god created, he wa

joining us now from singapore is the bank of america merrill lynch head of global g10 fx strategy.hank you so much for joining us today. we are hearing of a potential packed between the u.s. and china -- pact between the u.s. and china this week. what would that mean for both countries and their currencies? they aret seems that converging towards a deal. this is definitely good news. it avoids a further escalation. however, it is a mini trade deal. on what focus will be thatned with the tariffs have already increased. we will expect the deal to include a detailed timetable for implementation of what it will take actually to eventually reduce the tariffs. they remain high for now. increase, buther the negative impact on the economy will continue in such a have implementation risks. bottom line, it is good news if we do have a deal. we are not out of the woods yet. shery: what are the implementation risks you're talking about right now? would expect steps that china will have to take to implement this deal, assuming that this takes place. then, both sides will be able to reduce tarif

go to schwab or interactive broker for these deals or will they continue being happy with their merrill lynch guy or whomever it happens to be? >> i think that's a good point we expect they will meet the pricing on some fashion move in that direction you seen a whole broke of zero commission industry in the millennial generation. i'm not the most profitable of generating the revenue but they have brought on a lot of accounts schwab doesn't want to be behind that momentum and wants to catch up and have someone of a similar offering >> this is a big deal because then it changes the the rias that's a huge deal >> yeah. that's an important business they have the most advisers. this free trading and the trade, the lower commission will be passed onto them as well they'll look at the channel and hopes to grow assets which is really the benefit add vieszevis trying to bring in assets. we had a commission on trade war as well as a broad >> great to see you. thank you very much. >> great book publicity. he did this in conjunction with the new book he has coming out what a way to get his attention to i

coming up, helen qiao, bank of america merrill lynch chief china economist.rg. ♪ >> we want to encourage not just a trade truce, but actually trade piece because -- trade peace because that is the only thing that is going to get rid of underlying uncertainty and stimulate trade and growth. alix: the organization cut asia growth forecasts in its latest report, with projected growth of 5% this year and 5.1% next year. that would make it the slowest pace of expansion since the global financial crisis. for more, helen qiao, bank of america merrill lynch chief greater china economist, joins us. mark chandler of bennett burn is still with me as well. if that's still to -- of bannockburn is still with me as well. is that still too optimistic? helen: i took a quick glance at the numbers. i would say that as of 2019, we are mostly in line, but for 2020, there is some discrepancy in where we see things could go. for example, in china, or number is 5.7%. i think the imf just lowered it to 5.8%. we think that is an encouraging moves that they are coming in line to where

a double upgrade at bank of america merrill lynch to a buy, analysts saying that underlying businessrends look positive. guy: abigail, thank you very much indeed. remember the function gtv on your bloomberg. this allows you to browse all of the charts featured on bloomberg television, checkup on the analysis and sees your favorites -- and save your favorites. gtv . this is bloomberg. ♪ ♪ guy: from london, i'm guy johnson. romaine: from new york, i'm romaine bostick. this is the european close on "bloomberg markets." let's check in on the bloomberg first word. here with maurice courtney donohoe. -- here with more is cory donahoe. -- is courtney donohoe. inrtney: major drugmakers avoids. have settled to facing trial. canadian prime minister justin set to retain a majority inhout parliament. the president of chile has a stark message, that the country is at war, and called on people to choose sides. chile's copper union has called for strikes. at least eight people have been killed in santiago. the violence was triggered by higher public transport fares. global news 24 hours a

for that, we in the city turn to bank of america, merril lynch. they have been key to our success. we're talking about over three-quarters of a billion dollars in debt and equity for the program. here at hunters point, they provided over $150 million in construction financing and over $120 million tax credit equity as well as funding for residents during construction. we went to bank of america for funding because that's where the money was. they were ready to put it to good use. to paraphrase elanie, where is the money at, that's where i'm going. okay. i didn't get it quite right. you can school me later. don't beat box it? okay. i get a little carried away sometimes. anyway, back to the script. it gives me great pride to introduce a proud resident of san francisco herself, liz minik. >> these are always hard acts to follow. thank you so much for having us today. bank of america was founded in this amazing city in 1904. two years after, we had one of our largest earthquakes. at the time bank of italy at the time spent most of their resources getting people back in their homes. hou

bank of america merrill lynch has trade place for every major theme.omberg. ♪ paul: good morning. i am paul allen in sydney. we are under one hour away from the market open in japan and south korea. shery: i'm shery ahn. sophie: i am sophie kamaruddin in hong kong. welcome to "daybreak asia." paul: our top stories this friday -- pres. trump: i think it is growing really well. i will say, i think it is going really well. paul: the u.s. and china revive

americans have to look at all kinds of issues, we sometimes don't have the luxury of looking at merrill lynch because we have so many issues we deal with but i think more and more especially with young women we see the coalitions coming together more and more and we have to be comfortable enough to step outside our lines. in washington it is a lot easier for us because we wouldn't get anything done if we stayed in our narrow prism. those who are leaders in the room, have to be very deliberate about looking around the room and seeing who is not present. is there another voice that can come to the table? doesn't automatically happen. the more we do it and the more we are conscious about it the more we will come together. women better come together if we expect to have a female president. >> i've got to say, before georgetown, women were underrepresented and with the majority of voters a majority of consumers, majority of college-educated individuals, we need as nancy pelosi always stands up and says, we have enormous power. our research, tammy baldwin. you only have one female member of the uni

right now, shares are down about .8%, so bank of america, merrill lynch, which has a buy rating on the stock issued a note saying heading into q3 earnings, this will be a make or break quarter for the company. of course this is in the wake of a 25% plus sell off since disappointing subscrer editions last quarter in q2. laura martin with a hold on the stock, she issued a note saying netflix must lower its entry price because of competition with disney and apple's lower priced options she predicts netflix's u.s. subscribers are at risk. she recommends the company introduce a new a month service subsidized with ads. she said that's necessary because netflix's balance can't with stand larger cash losses. of course the big date to watch for netflix is october 1th that's when they report their next quarter >> $6 a month with ads that dvr is looking better and better thanks very much, julia. >>> talks of pepsi, shall we those shares are rising on a big week for their third quarter the cfo saying he's bull iish. we have shares of constellation brands and those are thinking even though they had

equity and quantity strategy at bank of america merrill lynch.head of investment group at aerial investments mike, here we go weapon finally settled out and got the numbers. relief rally >> definitely relief it shows you in the early part of the week, this story line that we were getting ever-weaker economic numbers and that the weakness was not contained, i think it kind of got ahead of itself there was a pretty good shake out over the course of two days. the market craved reassurance that the labor market was going to be okay, but treasury yields really didn't budge today. you priced in a rate cut for october. normally, the stock market has required longer term rates to go up for the stock market to rally. guess what, the cost of a rate cut in october was not really that severe in terms of economic pain just yet. >> unbelievable, how the narrative over the last day or so, literally yesterday morning, we're sitting there going to say, it's the worst week for the market of the year, and you have this big reversal. and charlie, now we're saying it

. >> there's a bank of america merrill lynch downgrade earlier this week, one of their key points is that people -- they don't want to pay $400 for a new coach handbag. they'd rather pay 4$400 for a used luxury brand. is all this a part -- you're willing to spend the money for high ticket quality things but not willing to spend the money and go to amazon and buy the blogger's dress. >> transparency is becoming more and more clear to the consumer you can shop around easier, you can use amazon to search at other retailers. there's a camera icon, you take a picture. say you're tjmaxx or marshalls you take a picture of that tag and it am tell you if it's cheaper on amazon or if it's even carried on amazon >> i didn't even know that >> it's super. it allows the consumer to be savvy and make good decisions. maybe you can get that louis vuitton cheaper than a coach bag. go for it. >> thank you >> thanks for having us. >> gm shares are popping as they may have a deal to end the month long strike to end the union there. you've also got 90 minutes to buy netflix before its earnings report is o

nike racing higher after an upgrade from bank of america merrill lynch.it to neutral from underperform boosting the price target to $95 a share. b of a believes nike will work more aggressively to make it accessible to everyone across the globe. nike hitting another all-time high today how far can nike run from here steve, what do you say >> i don't like nike for various reasons but you can't deny the chart. the chart is amazing it's up close to 30% and looks likes nothing is getting in the way. the way the stock recovered originally was the recovery in north america. then it became an international story and it's always been both. they seem to be hitting on every cylinder i'm waiting for when under armour, the underperformer, starts to perform. it seems like i'm turning blue in the face waiting for that day. >> do you think nike will be stung by what's going on in china? >> if anyone has been resilient, it's been nike, right? they're doing it with higher asps and also with a wholesaling business that seems to be very strong so it's another one of these a

>> i saw a survey this morning from global fund managers from bank of america merrill lynch, and 40% of people that actually manage money, not just people with opinions, think that the trade war is now a permanent feature of the landscape, will not be resolved either this year or before the election. that is more than a third of people manager money not hung up on that issue. they might buy more aggressively. in general, that is becoming almost 50% of fund managers. i would bet by the end of the year saying it is the new normal. if we get a resolution, hooray. i'll change my mind. let's focus on what's happening right now in price. i think that's the story. >> you don't think the comments were important on saturday. >> i don't follow him on tiktoks. >> you know who revealed that it was a chinese enterprise >> mark zuckerburg, four years ago. it was called musically. who is this company that my daughter is spending all her time on the app? >> chinese not russian. >> thank god. here is the big picture. s&p 500, you have rates. look at the 10-year. 1.74. a month ago it was 1.5. big, big

women's week there was one woman hi to have on the show, sallie krawcheck, the legendary ceo of merrill lynch'sgement. she's got a new job as founder and ceo of ellevest, privately held visual investment adviser around women it's number 45 on the cnbc disruptive list. the idea is the whole industry is designed around men you might think this would be naturally gender neutral uh-uh, big difference. women tend to live a lot longer than men which means you have to put different thoughts entirely to retirement. that's a brilliant concept, which is why ellevest has been growing like a weed. let's check in with wall street legend sallie krawcheck, ceo and founder of aellevest, personal find and icon too. why women are getting more involved in money management, taking care of themselves and control of their finances, sallie, welcome to "mad money." >> so glad to be here. if i knew we were going to do disrupter, i would have brought the disrupter socks. did you know you sent out disrupter socks? >> i did not. >> what says disrupter more than socks? >> you got me stumped there. >> nothing. >> when i hea

charles: let me ask you about bank of america merrill lynch.very month, they talk to money managers who combine, control $700 billion. they have been so wrong. now, last two weeks ago, they came out, the biggest cash position ever. these guys are just sitting on cash, they are afraid of the markets, afraid of recession, and we are going to new highs. our audience entrusts these folks with their money, todd. >> well, advisers have their own agenda sometimes and again, i believe that you need to be in the market always, 100% almost invested. i believe you should hedge your portfolio and always stay long. that's one of the things even though i may want to short as a trader, i'm always going to be long equities. advisers try to out-guess and out-time the market and i think that's a problem. charles: ten seconds. two stocks reporting after the close, buy or hold? buy, sell or hold? beyond meat, google? >> i think google's going higher. i think beyond meat's going lower. charles: really? okay. beyond meat was flat a moment ago. now it's up five bucks

smile direct club's september 11th initial public offering included jpmorgan, bank of america, merrill lynchched analyst coverage of the company, all with recommendations that investors buy the stock. this was the one where they are teeth aligners. most brokerages assigned price targets below smile direct club's $23 ipo price. stock's only at $13.60, plummeting about 40% since then. monday's recommendations stand in contrast to a report on friday from a short seller firm that accused smile direct club of quote, carelessly cutting corners and putting customer safety at risk. elsewhere, shares of harley davidson, they are cruising lower this afternoon. let's find out why from jackie deangelis live on the floor of the new york stock exchange. what's going on? jackie: good afternoon. harley debuted its electric bike, trying to reverse that trend of dlaeclining sales and t younger riders to come along. preorder was available since january but there's no evidence the bike is getting traction or young people are getting revved up, if you will. that's why you can see the stock is trading lower at $3

now joining us as our guest host, the head of european equity strategy at bank of america, merrill lynch have you. lots to discuss. equities and earnings in a moment. but talking about energy first, having a discussion with our previous guest who is not positive on energy stocks at all based on the oil price. do you see anything to be positive about in energy stocks? ? sebastian: it was an interesting discussion and i will take the opposite. we are overweight energy. we don't have to argue about it. it is clear the main driver of the sector is the oil price, and the oiln our model price is $.10 too low where the dollar is. we see upside for the commodity which would be good news. nejra: you think global growth momentum is close to a trough, but what tells you that? sebastian: we look at what has been driving growth, in europe and globally. the interesting fact, right now everybody thinks it is about china, because that is where the trade wars are, but the best indicator of growth in china, the pmi, is close to a two-year high, and the u.s. pmi is at a nine year low. what has been weighin

the merrill lynch survey showed -- we have time to start buying into u.k.viction. >> i think the movement we have seen since friday is that we are inching towards a deal, and as you say, europe is on its own, and the sterling is undervalued. i think he will see a sharp shift. the key beneficiaries of that will obviously be domestic stocks. it is interesting to see the ftse 200 -- the ftse 250 up. they will be the biggest beneficiaries. manus: yes, the ftse 250 had the strongest week since before the referendum. i just wonder about confluence with that type of risk on, if there is a deal, and it gets through parliament. of course, we could see it climb up to 1.40. what about the ftse 100? affect any of this rally that we potentially have in the market? i think there is the ftse 100, largely international names that benefit from a weaker sterling, so there, the impact would be more muted if you saw a rally in the sterling, and compare that to the ftse 250, which is broadly domestic, so as we mentioned, it would be the biggest beneficiary and would suffer less

trick or treat is how bank of america merrill lynch is calling that. among other things topping our minds as we get underway this friday. su keenan is waiting for us in new york with an update of your first word news. su: president trump is calling on the world to continue fighting islamic state. this, after announcing its leader is dead following a u.s. military raid in northwest syria. becomes thebaghdadi highest ranking terrorist leader killed or captured since obama -- trump said the u.s. is now targeting his likely successor. >> he is a sick and depraved man. and now he is gone. was vicious and violent, and he died in a vicious and violent way, as a coward running and crying. su: to election results in argentina, opposition candidate alberto fernandez has beaten mauricio mockery to take the presidency in argentina. investors will be keenly watching after an election that came after the backdrop of an economic and currency crisis. with concern over the cost of living and access to social services. hong kong's pro-democracy activists clashed once ag

market day, we have mark tepper from strategic world partners still with us also joining us from merrill lynchke, i've got to say it worked, didn't it? >> it worked the rule is you have to buy tomorrow morning, if you're observing yom kippur, you cannot observe the close today. yes, down 3% so, that has worked. and i do think it tells you the anxiety back and forth within this trading range yesterday, s&p down 45 points. most of it in the last hour. today, we got 26 of it back. where do we end up exactly where we closed six days ago. so, it's not saying nothing is going on what's going on, the market's kind of hanging in there and waiting and staying supported by low yields and a 2% economy hoping there's some catalyst needs from trade or swing in the macro that gets it moving one way or the other >> chris, what vhave you focused on >> investors have really hit the pause button across all levels across the board the pause button has been clearly hit. the key is the market's been hanging in there with this movement it tried for a fourth wave of rotation from ultra defensive to cyclicals and it

9.5 billion verses the 9.4 billion expected you are next guest, equity of food and beverage and merrill lynchis only 2%. they upgraded their guidance for revenue growth of 5% from 5% are you surprise we are not getting a bigger boost here today? >> i think the one thing about the report this morning was while the top line was much better than expected i think to get a little bit more bang posted results, probably would require a little bit more outside. margins came in a little light relative to where consensus was and eps came in line kind of took the sizzle off the stock this morning >> okay. and coke is looking to make some shift and consumption decline. which seems to work this quarter. is that a sustainable strategy >> yes >> yes, good morning i think so i have been doing very well. as you mention of consumption and additional in-take those products are priced higher it is good news. yes, coke has been very good they'll continue next year by the introduction >> into that point, what are your expectations when it launches here in the united states and january it is already in 25 countries

the bank of america, merrill lynch fund manager survey which remains downbeat, matches the defensivet is just because of headline fatigue largely. and this idea that we're a little bit in the homestretch of the expansion. not to say that's true, but that's the impression. and s&p i was saying earlier, hit 29.92, something like that, 3:00 friday, you're down from there, you pick up part of that now at the open, so i think the earnings looks like a net positive contributor in terps of earnings reaction. you can add up the dow components and figure out if they're offsetting one another unh and jpmorgan are doing their share to offset goldman. >> unh 388 beats by 13 cents revenue ahead. the guidance raised maybe for now the policy risk that some of them building into the stock is outweighed by the results. >> a weak performer for -- coming off the low base. >> also, by the way, brexit -- >> the debate tonight bumps the democratic candidates who -- >> hunter biden on gma, a lot to watch if you're keeping an eye on politics. to the opening bell here, and the s&p 500, at the big board, it i

money managers, professional money managers, according to the bank of america merrill lynch survey, areof cash in over a decade. they have missed this. they are grappling, gnawing their fingernails, do they chase it or pray that it pulls back. they are in a quandary because the train is leaving the station. meanwhile, if you look at the action in the market itself, today and friday, the down sectors, utilities, consumer staples, real estate. those are considered safe havens. people with money and equities want to be in the sectors that are really moving that can move with the economy. connell: counting on the fed still? i feel like a broken record asking this question. we have it again wednesday ahead of jobs friday. they are still counting on the fed to keep cutting and i know you think they should, right? even though people say if things are so great, why do we need lower rates? charles: a couple things. we hiked four times last year. connell: too much. charles: and you know, i'm concerned about drifting inflation. i think the fed has zero ability to stop a disinflation/deflationary d

and i covered morgan stanley's implosion, all these boardroom coups, merrill lynch, you name it.s is crazy. i mean involves the deep state and -- neil: you're the guy for crazy. >> i'm crazy town writ large. neil: so you called him in bali or he called you from bali? >> saw me, i think on your show. neil: okay. >> i was raising specter of insider trading given the timing of his sale. he got pissed. he and he started -- neil: that is expensive call. >> it is on -- neil: no, for you. if you made it you would have to pay -- >> i would charge back to the company. patrick has $100 million, right? he sold all his stock. his phone call to me is like a drop in the bucket, right? neil: sure. he never sold his stock, remember he didn't do that. he was pushed out. >> it went down to three. neil: but he didn't sell it that was his weapon. he was smart. >> he was smart. there was a few great ceos. that is one of the great things covering business, you cover brilliant guys. people don't celebrate enough, they provide jobs. jamie dimon is one of them. jeff bezos is one of them. i would say the

it's a big club. 2018 merrill lynch survey found 79% of parents financially support an adult child betweendraw from their own retirement savings to do it. for the perry family in tampa, financial support means allowing their 31 and 28-year-old sons to move back in with them after they struggled to make ends meet. >> they pay their own cell phone bill, their car insurance, they pay for those things that make them independent. the shared stuff is all us. >> yes, of course, i could be saving money putting it aside but it hasn't affected our retirement or our stability, so it's something that we cap afford at this point. >> that's where i wanted to put mine. >> i know it is. >> my house burned down at one point. i was in the military. bad relationship. various means. and i wouldn't be where i am right now without their help. >> life takes whatever turn it wants to and it's up to you to how you deal with it and perceive it. >> that's very true. >> it's really not bad. i mean we have great fun as a family. i don't think people should look down on it. it's just how it is these days. >> we believe

ons is come to underperform bank of america merrill lynch.ing the balance sheet and near-term demand concerns. rbc is a company needs to restore credibility to investors and do this by cutting the medium-term guidance to an achievable level as well as cutting the dividends. energy -- cairn energy's well ended up being dry so the need to abandon the project altogether. taking a hit this morning. anna: thanks very much. you could'ves picked today, lvmh. making a bid for tiffany. woulds say the deal expand the french luxury groups asset to the u.s. market. 'sining us now from paris robert williams, or luxury reporter. what would this deal mean for lvmh if it goes there? it's all about the u.s. consumer them. >> the u.s. consumer used to be the driving force in the luxury market. lately, china has taken the lead. you seen a lot of rapid growth from the chinese consumer and this move could kind of rebalance the exposure. they do have other large exposure, mainly sephora which is very dominant in the u.s.. this could move the needle for them. what

at 8:30, what do you look to tell merrill lynch advisors what to do.tell them what to do i just show them what it looks like and they make the decisions. look at overall job creation, what wages are doing, and look at the trends. not just one number. if it comes in very weak, then you want to look at the average. if it is on the upside, it doesn't mean we're out of the woods. tom: you are supposed to say ro and tomthan fer keene. francine: i will be watching. for the shuffle and reshuffle, bp chief executive dudley will step down and be seceded. operation -- operating steppedof credit suisse down. cooper leaving after a nine year tenure. metro banks as goodbye to vernon hill. some of the changes at the top. we will delve much more into some of their stocks. this is bloomberg. ♪ [chanting] tom: it is an early friday evening in hong kong and a mystery into tonight and the weekend and the protest of a changed hong kong. october 1 is the seventh anniversary of the chinese experience has come and gone. many people mass, with medical masks on. true masks hav

performers today, nvidia, it's seen its price target moved up to $250 over at bank of america, merrill lynchit is not the highest of the day for them, despite a five-day win streak we've got about eight other stocks that are hitting new highs in the chip sector and facebook within the f.a.a.n.g. complex today, so far it's been one of the best performers of this month, and today, it has moved out of correction, notwithstanding all of the regulatory issues that lie ahead there. bob, over to you >> three narratives today, bertha good earnings from jpmorgan and the implication that the consumer is strong pb progress on brexit, and some positive comments on trade out of china so we are 1% from a new high we can make that tomorrow, but we're going to need some things. we're going to need good news on the september retail sales report we're going to need earnings from some of the large regional banks to be strong i'm talking u.s. bancorp for example. even decent guidance from some of the industrials that are reporting tomorrow csx, for example, and steel dynamics, good examples right now. so keep a

this is a breakdown that the bank of america merrill lynch folks put together in blue, it is the volumeade corporate debt that's been used to refinance existing debt in other words, lock in lower rates on new debt. and then down here, this is for stock buybacks and m&a so those are somewhat more risky, if shareholder friendly-type activities what this suggests is that the corporate issuance boom is not companies trying to lever up and squeeze more returns out, it's essentially saying, we're just going to take advantage of what the market is trying to give us here in terms of low rates it creates a accusation for corporate cash flows on the whole going ahead, and probably means that we kind of refreshed balance sheets poet to strain them more. >> mike, thank you so much for that still ahead here on "closing bell," tensions rising in hong kong national day demonstrations turning violent earlier today. we'll bring you the latest when we return. make fitness routine with pure protein. high protein. low sugar. tastes great! high protein. low sugar. so good! high protein. low sugar. mmmm, bir

joining us for more reaction after the earnings, wamsy mohan at bank of america merrill lynch.he price on the target the stock has been on a roll the question is how much more is left in the tank with what you saw yesterday, with that earnings report, does that make you certain or at least highly confident that there's higher prices for the stock ahead? >> yeah, thank you, joe. good morning so what we learned from earnings yesterday really was that you saw three major things one, that revenue can grow without iphone revenue really growing. i think that's quite material for the stock. second, services is showing the reacceleration this reacceleration should continue strongly into 2020. and third, the install base is really growing very strongly the cfo noted the top 20 countries where the iphone sells, in each of those 20 markets they hit a new install base record and that's key to underlying pinning of services you're getting paid to wait for all the new products expected to launch in 2020 while there is very strong capital return >> so it justifies where prices are now, that r

bank of america merrill lynch reinstates their coverage of airlines.ve a buy rating for ryanair and like the carrier's model. greggs down more than 5% this morning. this is a u.k. bakery. seems to be there some slowing momentum. they say the stockpile for some of their key ingredients for their vegan sausage rolls. francine: the vegan sausage roll, which i have not tasted yet. let's get straight to the bloomberg first word news. in new york city, here's viviana. >> we begin in the u.s.. some of president donald trump's closest allies being dragged. into the ukraine the saga. . u.s. house democrats subpoenaed rudy giuliani. secretary of state mike pompeo listened in on trump's july 25 call with ukraine's president. that is a conversation central to the impeachment investigation. and the u.k. today, prime minister boris johnson will unveil his new brexit plan to eu leaders, according to "the daily telegraph." the key will be the reception the new plan receives on both sides of the channel. he is still planning to deliver brexit on october 31 with or with

equity and quantitative strategy at merrill lynch global research.ade talks. >> it's not just basketball. >> what do you tell people >> yeah, ahead of this well, it's interesting balls i there they -- so far the market has seen reconciliation i think the question is do we want a hasty trade deal if it comes at the expense of long-term growth so that's the question this isn't just about soy beans. it's about tech. it's about national security i think those are the issues that companies and investors need to be thinking about. so you know, here are our trade ideas. i think defense seems to be a great place to be for the fourth quarter and the future because of the geopolitical tensions across the globe. i mean, we're hitting a fever pitch in terms of income and equality and shifting to protectionism. there are all sorts of competing forces that i think will bolster the idea that nobody is going to cut defense spending at this point if time. right. >> that would be a pretty short-sided thing to do. >> although you could see a situation where it's going

he, he originally got a job at merrill lynch in the finance world and he realized that it wasn't ultimatelyas becoming a cop i understand you really couldn't really work two words in edgewise because he was so excited about serving the public? >> he was. i could feel his excitement through the phone. he called me, probably around 2010 i believe if the date's right. before i could even say hello on the phone he just blurted out with a level of excitement that it was amazing, that he quit his job. he was going to become a cop. he felt it was a calling. and that he was excited. he wanted to get out to make a difference and he really real hammered that point home. i really want to get out there to make a difference. that is the kind of guy he was. steve: sergeant, this is not easy for you to talk about, isn't it is? >> no, not particularly. steve: but it is what you and members of law enforcement go through every day, isn't it? >> there are a lot of inherent dangers in the job. things like this happens, it puts everything in perspective. steve: it has to be tough but i am sure you don't want to

americans have to look at all kinds of issues, we sometimes don't have the luxury of looking at merrill lynch because we have so many issues we deal with but i think more and more especially with young women we see the coalitions coming together more and more and we have to be comfortable enough to step outside our lines. in washington it is a lot easier for us because we wouldn't get anything done if we stayed in our narrow prism. those who are leaders in the room, have to be very deliberate about looking around the room and seeing who is not present. is there another voice that can come to the table? doesn't automatically happen. the more we do it and the more we are conscious about it the more we will come together. women better come together if we expect to have a female president. >> i've got to say, before georgetown, women were underrepresented and with the majority of voters a majority of consumers, majority of college-educated individuals, we need as nancy pelosi always stands up and says, we have enormous power. our research, tammy baldwin. you only have one female member of the uni

sidell and the employees at merrill lynch deserve our gratitude, and they deserve our support. they helped the securities and exchange commission and the commodity futures trading commission to do their job, and they helped to promote transparency, and with transparency comes accountability, in this case, for our financial system. i tell you something else they deserve. they deserve assures that when they put -- they deserve assurance that when they put their jobs and their reputation on the line, they won't be fired just for trying to do the right thing. they deserve to know that if the government recovers money because of their disclosures, they'll be able to get a decision on their award application and do it in a timely fashion. currently whistle-blowers don't have these assurances. last year, despite strong objections that i raised in a brief to the supreme court in the case of digital reality v. somers, the court ruled that a whistle-blower who reports violations of our nation's security laws is protected from retaliation not all the time but only when he or she discloses