michael oppenheimer, thanks for joining us. me just remind folks what the president said on twitter last night after noting the record forecast or the forecast for record cold on new year's eve on the east coast. he said, perhaps we could use a little bit of that good old global warming that our country but not other countries was going to pay trillions of dollars to protect against. bundle up. let's take that in two parts. first of all, is he confusing climate and weather? >> it's impossible to say what was in the president's mind, but he probably was trying to confuse other people about the reality of climate change. this cold snap is weather. weather is what you experience day to day. climate is the long-term average of weather over periods of years, decades, centuries or even longer. let me give you an amegy from the stock market -- an analogy from the stock market. it's perfectly possible for the stock market to be rising due to understooded factors like favorable economic forecasts and yet to decrease significantly for on

oppenheimer. let's get a check of the markets. the s&p 500 falling 7/10 of 1% and the dow also down .5% and the nasdaq down 1%. big news about michael flynn and what he is telling congress about connections to russia. plenty more coming up on that and tax reform. the senate trying to pass the tax bill. we are hearing that the 50 votes are there. we will give you the latest as we get them. this is bloomberg. ♪ ♪ vonnie: live from bloomberg world headquarters, vonnie quinn. dan: this is bloomberg market. welcome viewers and listeners on bloomberg television and bloomberg radio who are used to seeing adhering "real yield" but it will be on this weekend on bloomberg television. we have the latest concerning the tax overhaul, and also headlines about michael flynn, former national security adviser admitting the lying to the fbi and saying the trump team is russia talks. a lot going on this afternoon. abigail doolittle is here now. take us

oppenheimer and company joins us. an interesting day here because we did see a little bit of a dip in markets. we've been talking about the michael news all day. we've been talking about the tax plan all day. what are you seeing in the options market echo what is your take on that vix spike? >> it was up all week, even when the market was bouncing. we saw the vix acting really strange. thereby be some volatility ahead. last night, you had news about potential delays in the tax bill. the flynn news cut everybody by surprise. i think it has been the most peaceful market in history where you have the dow jones, 74 consecutive days without an intraday movement up until today, so we had a little case of volatility, as usual. we are back to waiting on tax headlines. julie: probably good news or you if a little volatility comes back in. >> definitely helps. julie: i know you have been watching single stop seems for the consistently. those are some of the things we've been talking about. as volatility picks up, does that remain attractive? >> yeah, all the action has been in single stocks. very catalyst jim and ideas, and we have been pr