we will talk about morgan stanley.tely outstanding on the delay of chair yellen. bill gross at 8:30. we are thrilled to bring you the former chairman of the present counsel on economic advisers. stay with us. ♪ tom: after the fed, after the bank of england, it is jobs day in america. can the jobs report's way janet yellen -- can be jobs report sway janet yellen? oil continues a quiet erosion in price. call it battleground state weekend. each --idates are in each and every el toro vote. i'm tom keene. with me, francine lacqua in london. it is upon us now. there is this real feeling of let's get this done, four days away. stocks spending some of the pre-votes spell off. we need to look at the turkish lira for another reason. tom: we will do the turkish lira chart and squeeze that in without good guests at this morning. turkey is showing real erosion this morning. here's taylor riggs. taylor: police in turkey have rounded up a number of kurdish lawmakers in late-night raids. president erdogan is consolidating his power. h

new world development getting a not up from morgan stanley. d up from morgan stanley.ok, let's get over to singapore for first word news. federal reserve officials have given a subtle nod to a december rate hike. says it only needs further evidence that inflation and unemployment are on track before it hikes rates. analysts say the decision acknowledges the focus on the presidential election next week. alibaba's september quarterly revenue jumped 55% to $5.1 billion, the fifth time it has beaten estimates. starloud unit was the performer, sales growing 130%. even,rise almost breaking however operating income miss testaments and low single-digit growth and active buyers and mobile users. court is due to hear a case they could have lasting ramifications for the territories relationship with china. the beijing backed chief executive asked the court to remove two lawmakers. mispronounced china's name when they were sworn in then held up banners proclaiming hong kong is not china. south africa's president is facing calls to resign after corruption watchdog ordered an invest

economist at morgan stanley.onomic outlook justify some of these returns we're seeing for the domestically focused small caps? >> i think that this is definitely the key question of the day, right, have markets gotten ahead of themselves with expectations? we can see that as economists, we do expect increased government spending, so we expect a better growth outlook next year. that's also going to come with a bigger monetary policy response. you can't get one without the other. the key question here is all of these assumptions that we've made of what kind of tax cuts can you get done, corporate tax reform, infrastructure spending, at what point do we start getting confirmation of that or a denial that that's going to happen, right? and so, that's what can roil markets. we've been digesting trump's picks here and there of who he's going to pepper his cabinet with, but we haven't gotten a real indication yet of what can happen on the tax side. i will tell you that the government has already passed a continuation re

good luck. >> adam parker of morgan stanley. something for everybody here in terms of adam's picks, right? >> really good. >> bringing it. >> a laugh in the face of the skeptics. >> i like the industrial call, really interesting to me are for the reasons he just mentioned. and the name that when he talked about the metrics he looks for, the name that sort of resonated in my head is honeywell. you had that terrible announcement, the stock has recovered a little bit since then. if it can recapture that 110, 111 area, honeywell is interesting, especially after what adam said. >> i'm going disagree with the industrials. i think global growth is going to sit on those industrials. i do agree with his utilities overweight on thamplt i don't think anyone's position for upside in utilities right now. >> pete? >> i am sort of baffled that he doesn't have technology as one of the three legs. i look at technology right now, the earnings so far that we have heard have all been absolutely phenomenal. by the way, he was wrong on that percentag

let's add morgan stanley.gan stanley is the one i kept thinking would get multiple expansion because they weren't in trouble with the government. >> although this baird downgrade of bac today, take profits, wait for more structural improvements, more definitive macro trends in their favor. >> the problem with that is you come back at $18? $18.65? do you think it's going to go back to $16 without dodd/frank? >> no. >> the head count reductions will no longer be at the branch level. they'll be at the compliance level. >> yeah. a really good point. >> how many people were watching other people were watching other people who had to watch those people? i mean, that's what was going on. i mean, the layers of compliance, there were more compliance officers than loan officers at some of these places. because they cut back on lending but couldn't cut back on compliance because such an aggressive government. now, if you read jamie dimon -- jamie dimon of course bought that stock at $53. nice call. >> that looks pretty g

james gorman and morgan stanley has got a tremendous outfit. a lot of big retail but managed and done a great job. he's brought you in. what are you doing for him? >> well, you look at some of the big wins this quarter, and morgan stanley, amazing. pnc bank also amazing. and citi. three huge financial service wins. that was very exciting for the quarter. >> for our viewers, they're going to say why didn't you talk about amazon? that's the most exciting one. >> amazon was awesome, and t-mobile. we saw them at dream foerce and saw them expand again in the third quarter. >> i thought one was quizzical. the department of agriculture win. do you think those kinds of jobs will still be available in a different administration? >> i do. the government is transforming and they're looking to lower their i.t. costs and go to the cloud. and there's no better way to do that than salesforce. >> i know you regard yourself as an american. you don't talk about democratic or republican. that was before the election. but do you think because of some close ties wi

morgan stanley estimating a 12% boost. the big takeaway, a little too much optimism in the marketpl e marketplace. >> and they spent a lot of time, money and resources complying to what we have in place now. if we pull back on that does that cause disruption? >> exactly right. they all feel like they've gone through the work, they're in this position, brian moynihan saying overall they feel safe, they don't need to see that go back. they want to have clarity and certainty going forward and hopefully they think the pendulum won't continue to swing against them like it may have done under a clinton presidency. >> your thought about no extra regulation. >> exactly. exactly. either way, share prices are doing well and the yield curve had a big factor on that. let's talk more generally about markets. joining us from pittsburgh is gus fochet from pnc bank. good morning to you. thank you very much for joining us. there is a lot of optimism out there. we don't have to focus just on the banks. a lot of optimism that all sorts of tr

you see the stock getting a higher price target from morgan stanley. back to you. >> phil, thank you very much. let's bring in cnbc contributor bob lutz, former vice chairman of general motors, also held executive positions with ford and chrysler. so i guess one way of saying it, bob, you've been all over the place, been around the block. what do you see happening in the auto business? i assume that you would say that it is pretty dog gone good. >> yeah. it is excellent right now. and phil was right to point out that seasonally adjusted rate of 18 million is incredibly strong. it might be a little bit down from last october, but that was an exceptional month. it is strong. and every dealer i talk to reports very, very good business at retail. and it is fair to point out that general motors, for instance, is de-emphasizing fleet sales, and that's a good thing. they're focusing on retails and retails are actually up. retail shares up 1.6 points to 18.1. 1.6 share jump is, you know, a huge jump by any measure. phil's right to point out, the suvs, crossove

goldman and morgan are underwriting equity capital --kets, so that is a big when you think about morgan stanleyr guidance for next 9% to 11% r.o.e. with improved economic activity, and a cost cuts and restructuring, that will be another lever to increase estimates. morgan is a name that people want to get behind, it is a business model geared toward wealth management. they have a top-tier investment bank in our number one inequities. people are more bullish about that business model. vonnie: thank you for joining us, today. mark: coming up, we continue the conversation about banks. was wall street all glee when donald trump was elected? we will have those answers, next. ♪ vonnie: you are watching bloomberg. mark: this is your global business report. president-elect donald trump takes aim at free trade and says pulling u.s. support on the transpacific partnership will be a day one priority. vonnie: disney is shelling out big box to expand its theme park in hong kong, but would it mean a big boost to disney's bottom line? mark: why is deflation bad for an economy? and that could buy you more fall

morgan stanley yeah. well, we gotta hand it thto fedex. glasses.y've helped make our e-commerce so easy, and now we're getting all kinds of new customers. i know. can you believe we're getting orders from canada, ireland... this one's going to new zealand. new zealand? psst. ah, false alarm. hey! you guys are gonna scare away the deer! idiots... providing global access for small business. fedex. >>> it is time for the lightning round. >> maryland. >> i have quite a loss in marathon oil and i would like to know whether to sell it now? >> sell, sell, we like the growth oil here, that was a terrible one. >> this is the eogs and it is the pioneer coming down here. they are looking much, much better. >> dorothy in new mexico. >> hi jim. now is the time to buy western digital >> the stock is cheap and you got a lot of cash flow. >> susan in florida, susan. >> boo yah jim. >> i bought tech data after you recommended. >> well, that is conclusion of the lightning round. the lightning round is sponsored by td ameritrade. >> scary booyah. >> what kind of reco

morgan stanley had to merge all the systems. >> finally.een doing that for -- >> yeah, they've been doing it for some time. >> but i'm saying these companies move, this is where the move has really been made in the financials. we used to think that all that mattered was maybe where net interest margins are. now people are starting to talk about growth. yesterday my -- from citi talking about how trading is better. david, there's a lot of different levers and you used to joke with me about what the return on equity would be. >> i did. i did. would it ever really get into the double digits on a consistent basis for these financial institutions? not just one quarter but every quarter. >> i don't think the treasury and federal reserve are going to have that kind of hammer lock on the banks and what they can do with their money. by the way they'd love to return more capital. government hasn't let them. that's what's going to change under trump. >> you mentioned crm. >> yes. >> selling more in terms of technologies to these banks. >> yes. >> look

when we come back, morgan stanley is bullish on chevron. they upgraded the stock today to overweight. it is our call of the day. it is next. month here. you should have quit while you were ahead. 32 years at this place and i've got 9 days left before retirement. look jim, we've been planning for this for a long time. and we'll keep evolving things. so don't worry. knowing what's on your mind and acting accordingly. multiplied by 13,000 financial advisors. it's a big deal. and it's how edward jones makes sense of investing. man, i'm glaaflac!c pays cash. isn't major medical enough? no! who's gonna' help cover the holes in their plans? aflac! like rising co-pays and deductibles... aflac! or help pay the mortgage? or child care? aflaaac! and everyday expenses? aflac! learn about one day pay at aflac.com/boat blurlbrlblrlbr!!! we're drowning in information. where, in all of this, is the stuff that matters? the stakes are so high, your finances, your future. how do you solve this? you don't. you partner with a firm that advises governments and t

morgan stanley >>> good morning once again. i'm sue herera. here is your cnbc news update.olice have captured 46-year-old scott michael green suspected of killing two iowa police officers earlier this morning in an ambush style attack. the two were shot as they sat in their individual patrol cars. >>> bill cosby returning to a pennsylvania court for a pretrial hearing related to his sexual assault charge. the judge deciding to allow the testimony from an accusers lawsuit to be used. >>> two newly elected hong kong lawmakers barred from parliament for insulting china. scuffling with guards as they try to retake their oaths in the chamber. security guards tried to throw them out but other lawmakers rushed to their defense. >>> taco bell will be offering a free doritos locoes taco at participating locations. the fast food chain promised that award if a player stole a base in game one or two of the world series which happened in game one. get in line. that is the cnbc news update this hour. >> can't wait for tonight. >> i can't either. >>> six days until the election. new polli

morgan stanley. mobility is very important to me. that's why i use e*trade mobile.all my mobile devices, so it suits my mobile lifestyle. and it keeps my investments fully mobile... even when i'm on the move. sign up at etrade.com and get up to six hundred dollars. >> we were up 5% initially, now we're higher by .7%. starbucks shares initially bend from the announcement they were going to hike ditchevidends. it was a third straight quarter that starbucks has missed global comparable sales. i think that's what investors and analysts have zeroed in on. have we hit peak u.s. starbucks sales? growth better than expected at 6%. yum and mcdonald's reported their sales took a hit in china after the south china sea ruling against the country. china is integral to starbucks' growth strategy going forward. howard schultz is on the earnings call. >> china once again produced record revenues and profits and strong sales growth in q4 and fiscal 2016. there are countless examples of western companies and consumer brands that tried and failed to achieve relevance in china. >> star

he was former president of morgan stanley wealth management.not the only time you've been in where you want your opinions. you know, i see stan around still. and at certain places. did you have to talk him into that? that was a pretty good move when you did that. that saved a lot of people's bacon. >> and the nice thing about, the brand goes on. >> you orchestrated that sale at a financial crisis at a time it was expedient. >> still a lot of people there doing lots of good things. >> like when you're on air. we're going to hear from him in just a couple minutes. >> same person. >> anyway -- yes, connie chung. just whisper to me. remember when she did that? she was on tv. don't worry about people listening. >> isn't that what we have the breaks for? >> let's get a check on the markets. adding to yesterday's gains where it was already a record high for the dow. that's where it's expected to open for today. and another ten-point high for the 10-year yield. which the knee jerk reaction maybe to investors is oh, interest rates are going up. i see if

morgan stanley closer to a 2% decline.of america, which you mentioned, down almost 2% this morning. >> did you see goldman where you had a combination of so many things. the volatility is great for gold p ma, the m & m is great for goldman. the volume is never big because these are etf buyers. you're so right to bring up etf. i did some shopping this weekend, david. i went to west elm. >> west elm. >> a brand new williams sonoma. my wife wanted to take a chair home, see if it worked for our dining room table. they wouldn't let us borrow it and return it. they should be a little bit more -- that's not right. they get downgraded not pauf that but i'm doing some shopping and the stores were packed this weekend. even west elm which i felt was not that great to my wife frankly. she didn't look like someone who would steal a chair. >> i don't see her running down the street with a chair. >> what is that? >> lower 50s. i was way out of line with that. >> but she doesn't watch so we don't have to worry. >> bug and everest watch mo

morgan stanley. i've never liked marijuana.on prop 64 to legalize marijuana for adults 21 and over. it has important safeguards for families, like strict product labeling and child-proof packaging of all marijuana products. and banning edibles that would appeal to a child. raising a teenager, that regulated system makes a lot more sense than what we have now. plus, 64 taxes marijuana to fund priorities like after-school programs. personally, marijuana's not for me. but my mind's made up. i'm voting yes on 64. but my mind's made up. he's the drug company big shot who raised the price of a lifesaving pill by five thousand percent. said he wished he'd raised it more. prop sixty-one targets drug company price-gouging to save lives. the drug price relief act will save californians nearly a billion dollars a year. join the california nurses association and aarp and vote yes on sixty-one. the drug giants won't like it. and he'll hate it. >>> welcome back to "squawk on the street." a quick programming note, tomorrow live from the baron

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morgan stanley agreed? we will find out. with election results from today. this is bloomberg. ♪ jonathan: this is "bloomberg daybreak." what will and clinton -- clinton or trump mean? the 10 year treasury, a rising young -- yield if clinton wins. becomes yields if trump president. joining us is matthew hornbach, head of global interest rate strategy. great to have you. the question we have asked throughout the the last 2.5 hours, the short-term story with the treasury which will be based on sentiment and the next 24-48 hours. draw a distinction at what we should be looking for. mr. hornbach: thank you for having me on. what we are seeing here among reticence to invest ahead of a larger risk event for global macro markets. our investors think have gotten money to put to work not only in government bonds but other assets across the spectrum. we are expecting people to come back after we have certainty as to who will be the next president and who will control both houses of congress. for the near term, once we figure out who ou

i mean, check out goldman and morgan stanley. they've been surging to levels, gosh, we haven't seen since pre-2008 following donald trump's win. so clearly, there is optimism on wall street which you've got to admit is a little bit ironic because, you know, hillary clinton was wall street's candidate. but they're hoping that all those restrictive regulations that have been hurting the banking industry, that have been hurting their ability to loan to everyday americans will potentially disappear. peter, what are you hearing in terms of this? >> reporter: yeah, that's right. and repealing dodd-frank and replacing it is one of the top items of president-elect trump's pro-business agenda. we've heard also today from the head of the house financial services committee, jeb hensarling of texas, his name has been floated as a potential treasury secretary, also saying that he was on board with doing this because his committee and the house republicans and and the senate have already passed this effort. so i think we have a sound bite from

andy chase, morgan stanley. number one according to barren's financial adviser in the united states. let's talk about another stock. a few minutes here. chipolte. downgraded to a sale at gugen heim. wonder whag you guys make of this call. stock's up despite a call to sell. >> the one issue that i have is they're trying to transform themselves obviously, that's clear. but the biggest element that i think, the metric you've got to look at when looking at chipolte, is the margins going to a huge problem for them? if that's the case, you can't own this thing. they're spending money to transform the company. >> if you're paying this price for growth, you need to have proof it's going to come through. until you see it, forget the stock for now. >> let's bring in matt, the analyst who downgraded the stock. matt, welcome. i'm curious as what led to your call and what role is whole ackman deal plays in this and how u that would relate to you downgrading it to a sell knowing you have an activist shaken the trees. >> thank

morgan stanley. >> welcome back to "the halftime report." here's your european close. renewed election on uncertainty. not just having impact on stocks here in the u.s., but abroad. asian markets closing lower. this despite another positive read on the euro zone economy. german unemployment fell to a record low of 6% in october. this follows the upbeat manufacturing data. we got it earlier this week. take a look at italy. down more than 2% on some rumors that the up coming referendum may be delayed, although the prime minister mateo renzi, his office denying those rumors. financials, specifically the italian banks. if we switch to retail, hugo boss, reporting earnings that estimates sending shares higher around 5 measures from the day. however, shares are still down about 36% over the past one year with stiff competition from fast fashion retailers and ongoing weakness in china. it's now trading at 19 times forward looking earnings, which when compared to some of its european peers, maybe a bit of a slight discount when you look at burberry, lvmh and prada trading a bi

qualcomm got downgraded by morgan stanley and it's well off its 52-week high. so really whether it's the chips or the tech sector, there are plenty of stocks to sell. >> that money can come back again because technology to draw the mopey out. >> it was exactly what nelson pelts said on the show yesterday and you talked about it before. the market is treating him seriously, however. i thought those were great words to categorize. >> let me stop you here. video now of this meeting today between president-elect donald trump and president obama. they talked about a wide range of issues. >> some of the organizational issues in setting up the white house, we talked about foreign policy, we talked about -- and, as i said last night my number one priority in the coming two months is to try to facilitate a transition that ensures our president-elect is successful. and i have been very encouraged by the interest in president-elect trump's wanting to work with my team around many of the issues that this great country faces. and i believe that it is important for all of us

>> morgan stanley.uch higher. 70 over -- >> wow. >> schwab. >> up side. >> up side. >> yeah. >> i kept my b of a. schwab, i let go because i had too much in finance. >> all right. that happens. >> lpla. 22% since november 7th. i had -- >> i think schwab has the most up side. of every money management/brokerage or whatever. >> more than e-trade? they -- >> e-trade is good. >> i thought it was -- >> what about schwab? >> we're going to have to try to figure out how to do have the discipline to could ep stocks that are up? >> how do you do it? >> being in the asset management -- >> how do you do that? >> hang on. >> sorry. >> you have to lose the password to your trading account. that's the case. >> do you have to start saying to yourself, you know what, it's a new market, and maybe my discipline has to switch a little, and the discipline is to keep winners. >> i was going to ask you earlier whether even as the air starts to feel a little thin up there if you are at a base camp of this rally or if you are

by the way, they also say that morgan stanley is very cheap too.et's go to chris in california, chris. >> caller: hi, jim. my stock is newell brands. >> newell brands is liking like church and dwight which we talked about earlier. it's acting like all the different. don't expect instant reaction, but remember when we had mike polk? it's a longer term. mike will deliver. mike has delivered before. mike will deliver here. let's go to rick in florida, rick. >> caller: booyah, jim. >> booyah. >> caller: december 1st, ulta cosmetics comes out with earnings. what your thoughts? >> my thinking is the stock has spent enough time in the penny box. mary dylan has done a fantastic job. i think it's a buy at 240. it's one of those companies that has got thrown away because it doesn't make machinery. there's no hurry. let's go to slavko in illinois. >> caller: jim, how about a big chicago booyah? >> why not, right? right back at the booyah. what's up? >> caller: man, here's my company. hez ca. >> i'll see your hez ca and i'll raise it with idexx labs. the ultim

morgan stanley >>> it is time. lightning round, are you ready? time for lightning round.n florida. randy? >> boo-yah, jim. just checking in on ali for you. 500 shares, buy or sell? >> you know, thank you for asking first of all. this has been the best retailer out there. you got a winner. let's go to john in florida. john? >> caller: hey, jim. >> what's shakin? >> caller: i'm calling about ty pharma. i bought it before the sell-off. >> wow, i got to tell you, if you get a big sweep you get the house in the senate going democrat with hillary that will be no go. be careful there. to george, george? >> caller: the question i have for you is walmart. >> listen to me, doug mcmillan made a major change there. i think this is one of the retailers to own coming out of the election. kevin in illinois, kevin? >> caller: hi, jim cramer. how are you? >> good. how about you? >> caller: pretty good. >> how about a stock? >> caller: yes, jim, i'm interested in buying a stock six flags entertainment corporation. ticker symbol is six. >> we like six. now i am a little bit bigger fan, just

morgan stanley.eand sustainability goals asool one of our top priorities.mental i definitely rely on pg&e to be an energy advisor. anything from rebates, to how can we be more efficient? pg&e has a number of programs, to help schools save on energy. when i see a program that fits them, then i bring it to them. with the help of pg&e we've been able to save a tremendous amount of energy and a tremendous amount of money. we're able to take those savings and invest it right back into the classroom. together, we're building a better california. >>> last friday the unofficial energy portion of earnings season got started with a bang. when we heard from exxon mobil and chevron. i got to tell you, these two very similar companies could not have delivered a more different pair of results. chevron posted a strong top line beat and trounced the earnings per share expectations whereas exxon missed badly on the top line even as it solidly beat the earnings numbers. that's why chevron quickly rallied 4% on friday

the idea that they need goldman or morgan stanley -- if blackrock and another wants to trade with each other -- this deal providing great service to make markets work, and absent that the whole capitalist system will break down? i don't find that. you are telling me that you need multi-chile dollar institutions for blackrock to find somebody at vanguard to trade with? i don't buy that at all. >> the timing of this plan is striking. you said in february you were going to do it but it comes right at this transition and it matches up with some things we have heard from president-elect trump. for example, backing off on smaller banks. have you and your colleagues have discussions -- had discussions with the transition team or people close to donald trump? neel: we have not. no contact with any of the campaign for the transition team. we have heard from members of congress on both sides the aisle who said they want to address the two big -- too big to fail issue. i'm optimistic. i think there's a possibility that could be a compromise that everybody could get behind. joe: that was minneapol

morgan stanley says the japanese equity market is not a place to be. we will talk about that a little it are on. cds markets are one to watch this week. european politics will be a big story, not only in terms of what's happening in france, but as we work our way toward next weekend and what's happening in italy and austria, we will carry on that conversation. the story is really the dollar. we will work our way through the day and see if the trade is going to turn out, or whether it turns out to be more sticky. in the meantime let's catch up on what we need to know with the first word news. juliette: guy, thank you. opec's and parking on a last-ditch diplomatic push to reach a production cut. ministers are flying to russia for talks in saudi arabia for the first time, suggesting the organization doesn't necessarily need to curb output. they are due to meet and began on wednesday as they attempt to finalize the terms of the first production decrease in eight years. resident elect donald trump has claimed, without evidence, that the u.s. elections saw f

morgan stanley >>> welcome back to "fast money."you prepare to position your portfolio under a new president, we're taking a look back at the best performing sectors under president obama. dom chu joins us again from the decision zone with some surprising results. dom. >> all right, so melissa, we all know that president barack obama's administration has yielded one of the best performing stock markets in stock market history. the caveat, we came off the lows of the financial crisis. still, a massive run higher. and if you take a look back at some of the sectors that did the best and worst, perhaps it's worth noting the cyclical economic sensitive ones were ones that did well. technology and consumer discretionary in the s&p 500 since president barack obama t gottin inaugurated. two-thirds of our economy is based on consumer spending. as for the worst sectors, no vice what the worst is. it's energy. we have seen oil prices come down a lot from their highs over the course of the past few years. that's dragged on some stocks. however,

morgan stanley -- morgan stanley, bank of america, 41% in six months. many of the regional banks, the names we never talk about on "fast money," up 70 and 8% over the past six months. they're still deposit-taking institutions. >> except for the fact if their core business is really about buying -- excuse me, borrowing money and lending it a little bit higher, that's only gotten better. it also is an environment where people have jobs. also an environment where we learned that lending is actually ticking higher. also an environment where the housing market is giving a lot of people a lot of home equity from which to draw from. so that explains it. quickly, the reason the banks have more room to run, the discount they were trading at was a function of the expected pushback that was coming down. well-said in that i think fiscal deregulation takes some time. the pressure on the banks -- a lot of people whose comments by the san francisco fed saying they still want to push on too big to fail. but banks trading at a major discount to book value. >> and did yo

ubs, bank of america and morgan stanley are also developing similar services. >>> amazon is rolling out non-stop black friday deals for the next 35 days. among the bargains, a 32-inch l.e.d. tv for $69, amazon is also lowering prices on its own products like the echo for $139.99. amazon will start offering discounts as soon as this friday. new deals will be available as often as every five minutes, sam and laura. back over to you. >> that keeps you double clicking online for a while. >> thank you very much, landon. >> while we're talking about kids, if you need a good idea, here is one. apple's latest product is a photo book that goes on sale today. it's also a tribute to steve jobs. it's titled designed by apple in california which issic that en from the phrase found on every apple product. the book chronicles the company's past 20 years of product design and is dedicated to apple eats late founder. it comes in two different sizes, the small and large. the small is priced at $199, the large one $299. >> so used to digital, but it's a book you can touch. >>> among his many christmas lis

morgan stanley. ♪ ♪ ♪ is it a force of nature? or a sales event?son of audi sales event is here. audi will cover your first month's lease payment on select models during the season of audi sales event. (bing) >> after making statements about the outcome of the presidential election. >> that's right. new balance just opened it's brand new flag ship store here in san francisco and has been a long time opponent of the transpacific partnership and now it's facing some angry customers after it publicly supported donald trump's trade policies after the election and now some of those customers are taking to social media. showing pictures and videos on social media of them burning or tossing away their new balance shoes. this after a company spokesman told the wall street journal the obama administration turned a deaf ear to us and frankly with president elect trump we feel things are going to move in the right direction. the privately held company's position to support trump on trade is in part routed in his opposition to the transpacific partnership agre

morgan stanley. will your business be ready when growth presents itself? american express open cards can help you take on a new job, or fill a big order or expand your office and take on whatever comes next. find out how american express cards and services can help prepare you for growth at open.com. >>> all right. here's what's on deck. what black swan author and big thinker is seeing from his crystal ball for next year. plus, facebook's big slide. has the digital ad market finally topped out. and with just days now until the election, new data on how millennials plan to vote and it may surprise you. "the halftime report" back right after this short break. they may want the latest products and services, but they demand the best shopping experiences. they're your customers. and by blending physical with digital, cognizant is helping 8 of the 10 largest u.s. retailers meet their demands with more responsive retail models... ones that transcend channels and locations, anticipate expectations... creating new ways to engage at every imaginable touch-point. it'

macy's declined to name the buyer but sources are quoting to say it is morgan stanley. macy's will lease the building for two or three years while they reconfigure the main store. >> when you travel across the bay bridge new span you could notice more of the old eastern span has vanished. the entire section was riding on a barge. the cranes lowered the 1.7 million-pound truss to the barge yesterday. you can see the truss moving forward toward the port of oakland and it will be cut in pieces and recycled. >> we are so proud to take part in the "light the night walk," finding a cure for blood cancer. >> i see love and the pow we of what happensen we come together. >> you can see everyone is carrying a lantern. each signifies something different. survivors carry white. red is for supporters and gold is for those we have lost. >> in honor of my grandfather who passed away from leukemia. it rays money for the leukemia society. >> it was fun to feet so many of you. i brought my dog because...and eric thomas and jessica castro and it was great talking to you and so glad so man

macy's has not disclosed the name of the buyer, but another source said it is morgan stanley. >>> safe crabbing areas are limited this year. don ford tells us that it could be a problem for wales. -- whales. >> reporter: in bodega bay, fishermen are getting ready for the opening of the commercial crabbing season. many votes or rat -- loaded and ready, but there is a problem. >> the only opener in california this point race south.>> reporter: the fishing grounds are normally from the russian river to the bay. that area has been temporarily reduced to below point ray. crabs in the north have tested slightly higher into malik acid. fisher -- those -- in malik acid. those who are fishing are not please -- not pleased.>> they will be forced to fish below point ray. >> it puts 12,000 extra pots in the area. >> it will be like carpet bombing. >> reporter: the fishermen are also concerned about the whales. with this much gear in the water in such a small area, the likelihood of a whale getting entangled is much higher which is something nobody wants.>> there is more pressure on the whale situa

win could trigger volatility on the global markets, and traders want to react quickly, like at morgan stanley. traders are checking stop loss orders. shares are bought or sold as soon as a determined price level is reached. it is intended to help investors lose as little money as possible. the swiss national bank is afraid there will be a run on swiss francs after the election, increasing their value on the world market and damaging the country's crucial export and tourism industries. even so, investors consider the swiss franc a stable currency in times of financial turbulence. >> so, donald trump with his plan to slash taxes in the red corner. in the blue corner, hillary clinton who wants to spend on green energy. both have given free trade the cold shoulder and promised millions in investment in infrastructure, but neither candidate is going down without a fight. >> the gamblers paradise, las vegas, was the venue for the third showdown in the presidential race that has been called one of the most divisive ever. but it proved to have more focus than the first two debates. there was less bac

morgan stanley. >>> welcome back.i leaks is making more e-mails linked to hillary clinton public. it revealed another relationship between the democratic nominee and big business player. eamon javers has that report with us now. >> this one is not surprising in one sense in that we knew that eric schmidt was a big democratic supporter, close to president obama and close to hillary clinton as well. what this document tells us is the extent of eric schmidt's involvement in offering thoughts to the clinton campaign. this is an e-mail sent to cheryl mills in 2014 with a variety of advice for how to run the 2016 presidential campaign including this. he says it is important to have a large hiring pool such as chicago or new york city from which to choose enthusiastic, smart and low paid permanent employees. another piece of advice to the clinton campaign was a separate auditing function to make sure no one is profiting unfairly from the campaign and perhaps to that end look at this piece of advice he gives on which cloud se

morgan stanley speed always wins. especially in my business.nternet from the phone company, you can't keep up. you're stuck, watching spinning wheels and progress bars until someone else scoops your story. switch to comcast business. with high-speed internet up to 10 gigabits per second. you wouldn't pick a slow race car. then why settle for slow internet? comcast business. built for speed. built for business. >>> we're going to fix our inner cities and rebuild our highways, bridges, tunnels, airports, schools, hospitals, we're going to rebuild our infrastructure. which will become, by the way, second to none and we will put millions of our people to work as we rebuild it. >> that was mr. trump discussing his goal of rebuilding our national infrastructure when he takes office as president. this alone with commerce and trade will be one of the focal points for his incoming administration. joining us to talk about the future of the presidency is ceo of national association of manufacturers who earlier today sent a letter signed by over 1,000 ceos

morgan stanley is a bank. you don't think of them as banks but these guys are barn banks. the rules on how they can lend will soften and that's why they jump today. no one has talked a nice thing about a bank in eight years in a row. and today without anybody talking about him, right? look at goldman sachs. up 5%, right? 5% today. all these companies up 4, 5 -- our company up 4% today because we do business with banks. we do business with banks. if you unleash the banks, it's good for us. >> i'm going extrapolate what you're saying. i'm guessing you think these kinds of market gains will continue. the market will be better off under donald trump presidency as opposed to under a president clinton presidency, is that correct. >> i think the banks -- >> what i'm getting at -- >> lending will help the economy. it's a driver of the economy. it will help. we can't just have central banks cutting to zero. you have to have -- different kind of fiscal policy. once upon a time, bill clinton got a lot of credit for the clinton tax cut, refinancing everybody, right? this may be the do

i love this morgan stanley note, make my portfolio great again. >> where's that hat? >> there it is. >> i'm going to task you guys with that. what am i going to be -- >> pharma which are names i loved a very long time this. extreme move to the up side is an opportunity. we will see some pullback. i'm looking at oil and exxonmobil. huge buyers in there. this will go higher. >> time for sector rotation as a result of this win? >> i would say this. if you think that some of the things we are bandying about that trump's going to do would really happen, that would not just be great for u.s. stocks, it could ignite entire sections of the world. >> it may be also things that may not happen. >> correct. >> overregulation on health care and biotech industry. >> what? you think trump is for more regulation? >> no. i'm saying things that may not happen. >> right. >> that's why those stocks are off to the races today. >> i completely agree there is an exhalation there. >> if you ran for the hills in the last year and a half after a hillary clinton tweet is now the time to come ba

morgan stanley oh caroline. so corporate put you up in a roadside motel. but with directv from at&t, you can download then binge watch your dvr'd shows from anywhere. that makes you more powerful than whatever it is you just stepped in. or that friendly dumpster diver outside. i wouldn't sit there. it's your tv, take it with you. now you can watch your dvr anywhere, at no extra cost, with directv from at&t. >>> still live in times square. as the "options action"s crew gets ready behind us, why don't we see what's coming up on the program? >> 3, 2, 1, liftoff! >> that's pretty much what stocks have done since the election. but if you missed the run to new highs, we've got a way for you to play catchup with one mega cap tech stock. >>> plus, call it king kong versus godzilla. that's because the strong u.s. dollar could be a headwind for a handful of widely owned stocks. and we've got the name poised to get hit the hardest. and --

you mentioned earlier the importance of volunteers and i mentioned that earlier from morgan stanley wealthanagement and joining me now is one of the volunteers and the branch manager. you've been doing this for how long now? >> we've been doing this now for 15 years, giving money and our time and it's really building. we really would like to stop childhood hung irin steal. we think it's so important. >> easy for to us forget we live in this very affluent area, that there's such a need to be met and you and your group have been meeting that need for a long, long time. >> that's correct. >> i think there's one in three children in this area that go to bed hungry, and, you know, we're just want to, you know, give back. >> want to put an end to that. >> yes. >> you can help us put an end to hunger here in the bay area by texting the word feed to 80077. that means a $10 donation and that will help hey lot. back to the studio. >> all right. >> thank you, spencer. >>> well, all of us here at abc 7 news would like to thank everyone who turned out for last night's light the night walk at at&t park.

morgan stanley. >>> welcome back to "squawk box" this morning. around the world struggle with hunger every day. and sadly many are children. our next guest saw the problem and decided to harness entrepreneurship to do something about it. lauren bush lauren is the ceo and founder of feed. she's appearing this week at fast company's innovation festival. we're thrilled to have her. she's a friend and thank you for coming in this morning. >> thank you, andrew. >> help us understand what feed does and how you came up with this idea. >> sure. next year is our tenth year which is crazy. and really i was so inspired after starting to travel with the u.n. world food program when i was a student in college and i really saw the plight of hunger first hand. one in nine people in the world face every day. so it's so massive and yet the program i really fell in love with that i saw helping so many children around the world. in 62 of the poorest countries around the world, kids are getting a free nutritious school meal. that costs between 10 to 25 cents. so so

morgan stanley, goldman sachs, all hit 52-week highs.t's going to be tougher to get those gains from here. the s&p financial sector trading almost 20% above its 200-day moving average. that almost never happens. and it's highly unlikely bank stocks will keep rising until we get more information on what the trump administration plans to do. so banks have been rising for three reasons. regulatory reform. but it's not clear how much of dodd frank will be dismantled and this would only benefit the biggest money center banks for the most part. second, banks have been going up on rising interest rates. but we have no idea how much rates ultimately will go up. and the fed will be the key to watch here. interest rates have also been moving on the perception that more infrastructure spending may be inflationary. but that's a long way down the road. third is corporate income tax reform. it would make sense that banks would benefit from this. but it's not clear how much would go to their bottom line. again, we just need more specifics. finally, the

take a look at morgan stanley. then these firms come over and they are starting to expand.lking about american firms as well as local firms such as grasshopper. take a look at this chart. much tradingu how has been rising. take a look at that. grilling to make up more than a 30% of trade. still behind the u.s. in europe where they are taking up a larger share. 66 percent in the united states. still, exponential growth. >> what is behind that growth? is it just more welcoming? is regulation different? is a mixedw, it response among asian countries. you are seeing china cracking down on algorithmic trading after last year and you are also seeing singapore having a more positive view of algorithmic trading. the boom we are seeing is that as the banking sector cuts jobs, hsp firms are hiring more people as we have a more welcome mood in some parts of asia. in japan, more than 70% of orders on the stock exchange are hsp. .> thank you that is it for us on bloomberg markets middle east. it is a risk off day. we will pick up the baton. bloomberg technology is up next. in one hour,