with more perspective, i want to bring in mike reagan.ve as well, what do you make of today's trade? to last you look back week, the market just had so many different pieces of information thrown at it. ,ou have the ecb coming out somewhat disappointing investors as far as expectations for stimulus. you had the jobs report and the opec meeting, a lot to digest. surged 3%y, the euro or so against the dollar. in an be like a ripple pond. it takes a while to settle down. we've obviously had this huge rebound on friday, now back down. to me, the big question mark in the big wildcard is the m&a, the new rubbermaid deal, and the keurig deal this morning. of nervousness ahead of the fed. the big wildcard about what could push is higher. is this rate hike really going to eliminate that cheap money that we have seen that has powered a lot of the mna? >> i don't think it will be overnight. might accelerate the pipeline a little bit as people try to get deals going quickly. i think that dealmaking possibilities would slow down around the new year. t

and also thanks to mike reagan, our bloomberg columnist. type gadfommentary, on the terminal. much more coming up in the next hour of bloomberg television. ceo bob iger bullish on china and star wars. ♪ betty: welcome back to bloomberg markets. it is time for the bloomberg business flash. some of the biggest business stories in the news right now. martin shkreli fired from his job as ceo at kalobios . its offer for a pesticide and seed maker. is voting onard that before the end of the year. $100 million to public pension , to settle a suit over whale trades. and erickson and apple result a esolve a r fight over patents. apple will make an initial payment, and then pay royalties as part of the seven-year tax. more on this deal, coming up. that is your business flash for this hour. still ahead on bloomberg markets disney ceo bob iger talks something other than star wars and you can -- espn. ♪ betty: welcome back to bloomberg markets. disney shares are dropping today, even as a new star wars film shatters box office records. estimates that global box office tickets were sold at $

goldman sachs, not budging even though it saw a 34% drop in its bond trading revenue. .oining me is mike reagant is goldman waiting for? compared thefo has credit trading cycle to the m&a cycle. he said everyone thought the m&a boom was dead after the financial crisis of 2010 and here we are back. it has come back in full force. m&a is at a record this year. looking at credit-rating the same way. revenues are down for pretty much every bank. goldman had a 34% drop in fixed income currencies and commodities trading. it's hard to say exactly what's behind that. none of the banks disclosed too much about line of business. alix: it is hard to know if it is one big trade that went badly , some sort of structural issue in the market. it is hard to get to the bottom of it. mike: not a lot of transparency in that revenue line. hearndo leaks out and you -- you see volumes down in this product are that. -- or that. fixed income trading is in a slump. goldman, from what they have said so far -- this is all based on comments they made at investment conferences and on their earnings conference call. they se

reagan was running today? has zero is the couldn't win but those mike mccain or near romney? he was an extremely skillful politician he would adapt just fine if they say i a reagan republican i can see no evidence of the effective rates of skills just to say that you are one does not make you one. settled besmirch his name that way. >> you're right they have nominated the moderates in recent years. conservatives were complaining as soon as they were elected. to attack him not to be conservative enough. but amnesty and taxes reagan will give different reception today. >> the lincoln read the speech after feeding off of jackson's car is forever. [laughter] i used to say if you say the name ronald reagan you could tell who the republicans are reviews a franklin roosevelt and democrats get that lucky and it is common. [laughter] that is why he was reagan's favorite politician. >> i guess who will see somebody running with reagan because he did have that you need set of skills idle think we have seen since even with barack obama who can give a really good speech. but don't think ev

. >> jim, this is mike calling from illinois. hometown of ronald reagan. >> you look great. talking about immigration. i loved it. am i allowed to say that? >> i'd like to send out a hawkeye booyah to all the fans. >> absolutely. >> thank you for it. i'm a long time holder of oracle. i'd like your opinion. >> it's fine. i was looking at it today. i happen to be more partial to sales force but oracle is a well run company that will do okay i do prefer crm. let's go to john in florida, john. >> hi, it's a privilege to meet you. >> same. >> thank you for your unique service to our country. >> wow. >> i have owned a stock which has been excellent for years pays 6 plt 8 dividend even as it continues to decline. etb. >> no, don't let it go. this is the most conservative partnership and it's really, really good and i really don't want you to get rid of that thing. it's being pulled down by the giant etf and it's so ugly out there and takes great courage but hold on to it. andrew in new york. >> booyah. >> booyah. >> i want teva. >> i'm not a big fan of generic drug companies here.

mike baker. former nypd officer, bill stanton, and former reagan defense deputy assistant secretary kt mcfarland. glad to have you all here. start with you, bill, you're beside me here in new york, along with kt, based on what you see here what is most likely scenario? >> one in three, more than one shooter shows a conspiracy. the fact they have long guns an vests shows a next level, to me either an organized hit, maybe persons or persons in that meeting, could be narc corelated, or terrorism. one of those three. deirdre: kt, you and i were going to talk about the threat of isis terrorism more international front based on study from gw university, whether or not this is terrorism what they think of traditionally, coordinated effort to bill's point and really stressing our law enforcement. >> i think this is an important point to make whether it is domestic terrorism or international islamic extremist terrorism, whether this is what we look forward to in american society, we don't have enough resources to deal with it. for example, to follow a terrorist, you know, government is looking at closely,

mike? >> we'll need small group of people that are competent in the government, john, even reagan had that.was very successful. >> all right. >> it's called public service. >> let's give john the last word. he's in d.c. coming up, your wallet feeling a lot lighter after christmas? well, our inf >>> and we're back with stocks to pay the holiday bills. you have a small company fund. >> david this fund has low expenses and has a great portfolio of small companies that are growing very fast. >> so get a basket of stocks here? >> you could if you're talented and skip the funds and buy dominos piz yachlt. >> what about tupperware? we have all grown up with tupperware. why do you like it? >> it's a bet on the emerging middle class and emerging nations. >> every morning i wrap my peanut butter and jelly in cellophane, i don't use tupperwa tupperware. >> that's it for "forks bes on fox." thank you, everybody. >> you've been watching television for the last month, all you've been seeing, all you've been hearing about is these guys with masks or black flags who are potentially coming to get you. and s

mike? >> we'll need small group of people that are competent in the government, john, even reagan had that. successful. >> all right. >> it's called public service. >> let's give john the last word. he's in d.c. coming up, your wallet feeling a lot lighter after christmas? well, our informers have the makes it could help fill it back up again. that's coming up next. race for. so we asked them... are you completely prepared for retirement? okay, mostly prepared? could you save 1% more of your income? it doesn't sound like much, but saving an additional 1% now, could make a big difference over time. i'm going to be even better about saving. you can do it, it helps in the long run. prudential bring your challenges when i went on to ancestry, i just put in the name yes, we are twins. of my parents and my grandparents. i was getting all these leaves and i was going back generation after generation. you start to see documents and you see signatures of people that you've never met. i mean, you don't know these people, but you feel like you do. you get connected to them. i wish that i could get int

mike. >> courtney, thank you. >> courtney reagan at the nasdaq. >>> california's fair pay act goes into effectrow. we will tell you how this will impact businesses there based in the golden state. >>> plus more on the address hotel in downtown dubai engulfed in flames earlier today. we will bring you the latest details on that fire when we come back on "closing bell." >>> we've got a pair of news alerts on emc and valeant. >> let's start with emc, proving a restructuring plan that includes cutting jobs and a charge of $250 million. it plans to fully complete this restructuring by the end of 2016. we are seeing shares move after hours on this news. >>> bill ackman says it is cutting its stake in valeant pharmaceuticals, the reason, tax purposes. it is reducing its stake from 9.9 to 8.5% in valeant, shares down just about .6% after hours. back over to you. >> tax losses for taxable investors, that's what he says in the filing. >> and there have been losses, significant losses. he is down -- his fund is down 20%. >> he sold high cost basis valeant shares which means he paid more for them. >> anot

mike portland med via text. now that we he perspective on reagan's presidency, do you think it was the beginning of the end of the american middle class and the beginning of ill-advised wars for oil overseas? i do. >> guest: no, i don't. i got into a lovely twitter exchange the other day with somebody -- somebody was in an indignant mood and a little angry and said, oh, that reagan, the war monger this and that what an empty suit. and i said, really? okay. well, defeated the soviet union, restored the american economy, helped bring back the u.s. military, lowered taxes, america is back as they said in those days. if that is an empty suit, then, fine, more empty suits for a president. i don't think, to be more specific, that mr. reagan's conservatism is rightly understood to be a conservatism that says, let's invade the middle east and get their oil. reagan used words. margaret thatcher said he marshaled the english language and sent out to fight for us hitch used words to beat back tyranny and to shame insufficient governments, but he was also, i think, very much a realist about the impesks of man and the imperfe

mike the other 1980 parallel, : jack kemp pushing ronald reagan. jack was my: mentor.ots of books have been written about this. he, along with many other house growthcans, pushed april -- a progrowth agenda that was the right antidote for the malaise. ronald reagan picked up on that agenda, championed that into the general election, and we got reaganomics. we got tax relief, tax so i think that is the kind of combination we as a party hope to build upon. want a house republican for nominee? speaker ryan: i want house republicans helping the nominee before the nominee arrives. the last thing we should do is sit around and wait. we know who we are, we know what we believe in. we know we want to have a solution for the debt. we want faster economic growth. we want to reignite economic growth. we want a stronger national security posture. we know these things. we should tell people what it

mike's comments? this was in many respects, as i said before, the kind of thing that happened with ronald reagan, he was a message guy and used messages very much like this when he was running for president and was poo-pooed. after he was president they wrote a whole book saying he knew nothing about arms control and this was four years into his term. >> but you have had a lot of generals in our area and elsewhere, saying the idea of bombing the heck out of them and taking iraq's oil you know, that doesn't make much sense. >> and yet that has not dented any of his popularity thus far. i'm thinking of jeb bush two years ago if i'm not mistaken saying you need to be prepared to lose primaries in order to win the general election. this is the reverse of that. this will catch up with the gop. i mean, look at the data that you just shared where six in ten americans say they don't agree with donald trump on the muslim immigration issue. he curries favor with the republicans but long-term, that dog just won't hunt. >> and your friend has gone after ted cruz, linking him with rand paul, as an isolationist, do y

mike, right? >> amazing. >>> 6:25 up for. she was originally -- of:25 -- 6:25 now. she was originally heading to reagan airport but hasn't been seen yet. >> we'll have the latest on the investigation. >> and we are waking up to comfortable temperatures. it is a little chilly out there but could be worse. 39 for d.c. and 30s across the boards around our region. when i return at 6:30, i'll go through the day hour by hour. stay tuned to wake up washington. >> a rude awakening for folks on 66. the past hour or so we've had two accidents trying to get out of gainesville and manassas. sky 9 has been showing us pictures eastbound on 66 trying to head east of the prince william parkway and through manassas and centreville. earlier incidents have been moved out of roadway but it's a slow go. folks heading the northbound side of 301-5 out of waldorf and brandywine, the issue for you has been an accident north of brandywine on route 5 near moors road. a slowdown there. ♪ catch holiday-cookie cheer on the tip of your tongue with dunkin' donuts' holiday- cookie-flavored coffees. from 2:00 to 6:00 p.m., enjoy any me

reagan building in downtown washington. the event takes place at 9:00 this morning. >>> former arkansas governor mike huckabee will kick offross virginia after his appearance at the forum. he's first attending heritage baptist church in ashburn. then it's on to the germanna community college in culpeper tonight. then tomorrow huckabee will meet with volunteer firefighters in woodbridge, virginia. and then hold a rally with high school students in fredricksburg in the afternoon. >>> republican presidential candidate donald trump changed his usually tone during his latest rally in manassas all because of the san bernardino massacre. he called for a moment of silence at the beginning of his remarks for the victims. later he switched gears once again mocking his rivals who are running for president. >> i love it when they attack because so far everyone who has attacked me has gone bingo, right? they've gone down. they've gone down big league. >> the newest national polls show trump's lead is growing over his closest competitors. marco rubio, ben carson and senator ted cruz. >>> it is the 93rd year for a christmas tradition in

mike the other 1980 parallel, : jack kemp pushing ronald reagan. jack was my: mentor. lots of books have been written about this. he, along with many other house growthcans, pushed april -- a progrowth agenda that was the right antidote for the malaise. ronald reagan picked up on that agenda, championed that into the general election, and we got reaganomics. we got tax relief, tax so i think that is the kind of combination we as a party hope to build upon. want a house republican for nominee? speaker ryan: i want house republicans helping the nominee before the nominee arrives. the last thing we should do is sit around and wait. we know who we are, we know what we believe in. we know we want to have a solution for the debt. we want faster economic growth. we want to reignite economic growth. we want a stronger national security posture. we know these things. we should tell people what it looks like, how we get those things. these are unifying things within our party. we believe it will help propel not only the nominee but help us win. mike: last question. of a julyilit

mike, back to you. >>> the iconic and overcrowded toys "r" us store in times square will be closing for good today in the face of all-time high rents in new york city. courtney reaganith more. >> reporter: good morning. if you want to ride the ferris wheel, you have until 6:00 tonight. after that, the doors close, gap and old navy are eventually moving in. toys "r" us also close that had iconic fao schwarz location on fifth avenue about five months ago. the retailer says it's looking for new location for toys "r" us in manhattan, but hasn't found one yet. record high rental rates here in new york city are pushing out both small businesses and large retailers. crate and barrel closed its madison avenue location four years before the lease ended because the rent is just too darn high. however the board of realtor says not every area is seeing higher rents. average asking rent for ground floor is up 3%, but that is low compared to a 42% increase in the flat iron district. times square did remain the second highest in manhattan at $2390 per square foot per month. plus, in new york city, labor cost is higher getting inventory in and storing it is more challenging. okay

. >> i'm sorry, mike, the oil gluts and these low prices, prices are particularly devastating for the russian economy, right? >> very much so. if you think about what happens with reagan lot with the awedies and lowering oil prices and i think that's part of the reason, they're fighting off again. the saudies have all kinds of enemies and trying to hurt them all. >> when you look now, the new law that was passed for the first time now we can export oil from the u.s. i think that's a bigger story than really was played out in the media, do you agree? >> near-term it doesn't mean that much, but i completely agree medium and long-term it changes the dynamics, people in north dakota and texas are saying, yeah, prices are low now, longer term we can export. marginally will help those guys. maria: when we peel back the gdp number. corporate profits down 3.3%. so, when you factor in oil down as much as it is, how do you assess the economy right now going into 2016? >> profit margins have been so high for so long, we expected them to come down. and we get nervousness, they can't stay up that high. and when we talk a to hedge fund managers for 2016, earnings are a concern. mar

mike rogers who chaired the house intelligence committee. and anna navarro, jeffrey lord and van jones and as a rubio friend, amanda was communications director for ted cruz. jeffrey lord was a director in the reaganser. what did you think of tonight in. >> it's always hard when you watch a family fight. there were periods of the debate where as a loyal republican you cringed a little bit. but we'll get through this. there was a lot of discussion on the way forward on a national security plan. you're not hearing that from hillary clinton in a detailed way. what does it mean to put troops on the ground? that was healthy to the debate. i saw candidates tonight in their answers move a little bit on their foreign policy and national security positions. i thought that was interesting. and i think that will be a great outcome for the party and for all of these candidates who will be tested on snasnational secur. and in the first round, it will continue to be important as the race unfolds. this has been an important discussion. >> and anna, some of the differences between the candidates we saw tonight. >> i thought it was a great debate. so many republicans like me, like us, have been pining for a policy