how challenging are they for morgan stanley?h what we have been through, eric, not to be 2008, it's not the dot-com bubble burst of 2000. when i first came to the u.s. out of graduate school in 1987, listen, this is a market correction we are going through right now and i'm sure we will talk about the details. this is well within our wheelhouse of what we can handle. erik: is this a healthy shakeup, this correction, this contraction in the broader market and what we have seen happening to tech stocks in the last two days? erik: first of all, we are in a tightening process around the world, led by the u.s. that has consequences. the ability of monetary authorities to shrink balance sheets has limited what they can do and we have got a lot of political turmoil. that you arerising seeing some correction against that backdrop within certain sectors. it's an incredible run-up in valuation. hundreds of billions of dollars of credit these companies, it's not surprising that this has been taken off the table. there is a lot -- erik: the

he is looking at the feedback received from morgan stanley clients.hen i first came to the u.s., i was coming out of graduate school. this is a market correction we are going through right now. >> is this a healthy shakeout, this correction? >> we are in a tightening process around the world. are three and probably for rate increases this year. thee is the ability of monetary authorities that has provided limitations to what they can do. the markets are being anxious. backdrop, there are certain sectors. of millions of dollars have been created in some of these companies. there is a lot of debate. i guess the debate is reflected in the volatility we see. is the sustainability of u.s. growth and the pace of rate increases itemized? this could imply the standoff the administration is undertaking with china. is there anything around this debate, as far as what your from clients? >> there is just a watch going on. there is a strong news flow from overnight. brexit and tariffs and political risk and protectionism and anti-immigration. before we get to the

welcome back i hope you'll join us on "power lunch" bold call from morgan stanley.t firm downgrades u.s. stocks and says buy emerging markets. right? wrong? we'll debate that. the auto sector in overdrive plus bitcoin big downfall plunging from 20,000 to below 4,000 over the past year will anything, anything bring investors back that and more ahead on "power lunch" scott, back to you >>> thank you. look forward to that microsoft down more than 8% in the last two months. options traders are betting on an upswing and pete i know you're going to join us here let's show it now. there's the market cap battle. oh, how the mightiest has fallen because apple is barely now the biggest market cap stock in the world publicly traded company. was a trillion dollars stock is down 20% in three months pete, i got apple at 809 you don't know if shares are outstanding because of the buy back we get it. let's call them neck and neck. that tells you all you need to know about what apple has done lately and microsoft, look, it's weathered that big tech storm to some respects. >> absolut

carla harris of morgan stanley.ur exclusive interview with morgan stanley ceo is at 12:30 in new york. coming up, we'll be talking autos and tech. this is bloomberg. ♪ i'm all about my bed. this mattress is dangerously comfortable. when i get in, i literally say ahh. meet the leesa mattress. a better place to sleep. this bed hugs my body. i'm now a morning person. the leesa mattress is designed to provide strong support, relieve pressure and optimize airflow to keep you cool. hello bed of my dreams. order online. we'll build it, box it and ship it to your door for you to enjoy. sleep on it for up to 100 nights and love it, or you'll get a full refund. returns are free and easy. i love my leesa. today is going to be great. find out why so many people love the leesa mattress. then try it in your own home - or at any west elm store. order during our black friday preview sale to get our $225 offer. that's $150 off the mattress, plus a free pillow - and free shipping too. go to buyleesa.com today. you need alix: this is

. >>> morgan stanley out with a big call on your money they go bearish on america, bullish on another part of the world. the man who made that call is here exclusively. >>> oil posting its worst week in years will it be opec to the rescue now. >>> the crypto carnage to the rescue bitcoin breaking below $3500 countdown to shutdown. congress is ready to go to work today but the clock is ticking for another government shutdown. deja vu on monday, november 26th, as "worldwide exchange" begins right now >>> a little led zeppelin will get you going. hello and good morning from wherever in the world you may be watching i am brian sullivan. hope you have a had a great weekend or evening if you're in asia oil posting the biggest weekly loss in three years. things are looking a little bit more optimistic on this monday morning. dow futures up 262, s&p and nasdaq futures are higher as well oil, as we've said, remains a huge story last week up a little bit. wti crude up nearly 2% it's at $51.31 a barrel. no doubt president trump loves it no doubt the market likely hates it because of all of the d

morgan stanley overnight. we knew they were dollar bulls. they believe the dollar has reached the peak, sovereign bond yields also began falling, inflationary pressure on falling oil prices. what are you hearing? why we do not go along on dollar? >> will the fed have to slow the path as a result of weakness? if they pause, jay powell did signal he is watching what is going on closely in a speech on wednesday -- if they slow down, all of a sudden, the u.s. is not diverging from the rest of the country of -- the countries around the world when it comes to monetary policy. you could see the dollar soft and in that case. -- softened in that case. is it really going to lose momentum at a faster pace? we are seeing that. take a look at what markets are pricing and. expectations for the rate hike in 2019 is moving lower, 38 basis points lower from friday -- markets are pricing in. >> definitely. not certain extent, he is saying he is watching these -- whatlosely, is not is he doing? he better be watching. >> hold on. that is fast. >> he had a month

morgan stanley ceo james gorman is not concerned. the markets over were raped.e is a fantastic institution, they have tremendous ability to restructure the assets there appeared a off the business. i'm not concerned about ge's credit at all. it is a world-class company. they are going through a tough time and they have a leader doing something about it. >> even if they end up drying trend on the credit facility, they are still good. >> absolutely. this is ge, one of the great institutions in the world. shery: let's bring in lisa abramowicz. this would be a crucial backstop. we saw when andrew danone it's in credit line. general electric has a $41 billion credit line with the number of different banks. we don't know all of them but the fear expressed in the story today is what happens in general electric demands all of that money back, take it all out because they have commitment from these wall street banks to withdraw it. what happens to those banks? especially if general electric is doing so under duress. as the morgan stanley chief executive was talking about

the company tried to buy back all of its stock held by morgan stanley's mutual fund while morgan stanley refused to budge. the next quarterly price update is due thursday. uber has announced a new loyalty program in nine u.s. cities. this is two days after lyft announced its own reward program. who is playing catch-up? we will discuss, next. if you like bloomberg news, check us out on the radio. listen on the bloomberg app, bloomberg.com, and, in the u.s., sirius xm. this is bloomberg. ♪ >> internally, i think we have set the norms out and i think we are starting to change is a company and become the kind of company we are proud of, but we have more work to do to make sure those behaviors define how leadership acts, and how four france,levels down in one of our operational managers acts. emily: that's the uber's ceo speaking about the company culture on the wall street journal tech v-live conference in california. uber is offering its most loyal users cash back for rides, priority air pick up and others. this is after lyft announced a similar loyalty program. it should be rolled out by t

is the volatility in financial markets good for morgan stanley's trade?care more about how it affects our clients because of our clients do well, we do well. everybody's markets right now, some of the volatility is good, not great. the equity capital markets have been pushed back. more uncertainty around transactions but more transactions and more volume in cash, equity derivatives, staying positive. >> you are seeing more trading or bigger trays with clients? >> not necessarily bigger trades but there is more volatility and with that more activity, on the other hand, it is being pushed back. it gives and takes. start looking at the fixed income space. these are more difficult markets. we do not like up every morning and say, we hope the market is volatile. this is not our objective. we look at the fundamentals and try to make sure our clients are well-positioned for whatever risk profile they have got. >> what economic scenario are you baking into the strategy for the next 12-24 months? >> we are in the middle of our budgeting process. i do not expect gr

i've got to morgan stanley. morgan stanley stained the bull market is now officially over. we're already in a bear market could look at how far the dow has fallen since it had record close on october 3rd. down nine percentage points. s&p 500 from its record close on september 20th. really, relatively recently and is now one correction territory down 10 percentage points. the nasdaq looking about one from its record that was hit back on august 29th down 15%. more than a correction, not quite a bear market yet for the nasdaq. russell 2000 posted a record on august 31st. lost it all down 15% since then. finally the transport. for the record close on september 14th, they lost 12 percentage points. how the bulls finally run their course is morgan stanley right. or the bears now out in freely plain. let's get right to the show and traders of the new york stock exchange. what is it like down there on the floor? is it orderly? we know it is relatively thin on this week and are we in a bear market? >> it is pretty quiet. coming in this week we knew there would be a lack of participa

david: the ceo of morgan stanley speaking exclusively to us.ur business flash headlines. shares jumping after reporting surging sales. company ofi-based 17. their biggest gain in two months. on the other hand, the quarterly loss increased fourfold. ikea is to open its biggest store ever in manila. it will be 65,000 square meters. it is the basically length of 150 basketball courts. almost twice the size of your typical ikea shop. david: i can imagine the traffic. plus, speaking of, let's get on the roads and take a look at shipping. introducing its currency for crew members. the goal is to make it easier for seafaring workers to convert money into local currency. they are either filipino or chinese. trying to avoid massive swings. what do we have coming up on the program? we will be looking into what happens next. david: we will be looking at that scum of the different types and where the opportunities are. asia-pacific head of research, coming up in the next 60 minutes. this is bloomberg. ♪ ♪ just about 10:00 a.m. in hong kong and singapore. w

apple's weovht rating was maintained a at morgan stanley this call follows downgrades. the alyst says shares overreacted to weak supplier guidance. opinio and the pri target set at 253. separately it says apple plans to partner with a studio to make feature films and that also helped lift the sck more than 2% to 191.41. >>> flow dow component visa was given overweight rating at barclays in new coverage. they say there they will benefit from the global shift to ectronic payments. the price target is $170. stock rising 1% to 141.84. >>> mylan upgraded to buy from hold at aue us research. the analyst says the stock is near an inflion point after years of underperformance. price target now $42. the stock rose 2.5% to $35.14. and natural gas producer cab on th o and gas downgraded from hold to buy at tutor pickerign holt. the analyst citing the valuation following thell price target at $23. shares fell a fraction to $25.64. >>> and still ahead, the new american export. >>> coming up on nightly business report we tell you woo i tt one ship behind us kicks off an entirelye new

morgan stanley says they will go long's treasuries.ng a pop of over 1.5%, despite the fact that saudis are pumping a record. david: we will see how long that lasts. alix: we will talk about oil and emerging markets with mark mobius. david: it is a great day to have mark mobius. alix: good perspective. david: oil, the g20 going -- coming up. mean a slowert fed, a more dovish hike? it should be a lot of fun. david: right now, time for the morning brief. later this morning, mario draghi is appearing before the european parliament, where he will be taperingdoubt quantitative easing. thursday, the federal reserve will release its meetings from earlier this month. friday, the g20 meetings will get underway in but osiris with -- in buenos aires. over the course of the week, the u.s. will be auctioning $129 billion in 2, 5, and 7-year notes. let's take a look at what is going on outside the business world. we turn to emma chandra. emma: the president resumed his tweets on america's border problems today. he urged mexico to deport "flag-waving

we sit down with morgan stanley financial advisors to learn what could be in store for the mike it's -- markets this week. >>> around the bay area, mostly sunny skies, unseasonable weather. will take a look at the conditions and what to expect for election day coming up. tony thurmond's record. well, i've worked with tony, and no one is more qualified to lead our state's schools. that's why tony thurmond is the only candidate endorsed by classroom teachers and the california democratic party. because tony will stand up to the donald trump-betsy devos agenda and has always protected our local public schools. join me in voting for tony thurmond. let's put our kids first. for tony thurmond. [ready forngs ] christmas? no, it's way too early to be annoyed by christmas. you just need some holiday spirit! that's it! this feud just went mobile. with xfinity xfi you get the best wifi experience at home. and with xfinity mobile, you get the best wireless coverage for your phone. ...you're about to find out! you don't even know where i live... hello! see the grinch in theaters by saying "get gr

morgan stanley ♪ whoa! (phone rings) daddy, mommy's on the phone! hi! how are you guys?t proudly offers wireless and tv discounts to military, veterans, first responders and their families. visit att.com/hero. your company is and the decisions you make have far reaching implications. the right relationship with a corporate bank who understands your industry and your world can help you make well informed choices and stay ahead of opportunities. pnc brings you the resources of one of the nation's largest banks, and a local approach with a focus on customized insights. so you and your company are ready for today. >>> you remember the controversy from inside the white house. well, another piece ran this week in the times that was also riveting for who wrote it shs only this time not anonymous. trump's appointment of the acting attorney general is unconstitutional was co written by george t. conway iii is a litigator in new york. but to the world he is better known as our president referred to him friday this way. >>. >> who? >> kelly ann's husband? >> you mean mr. can kellya

is morgan stanley in a better position now because of this? to assume that whoever the rivals are right now, they are probably happy that goldman is getting all the spotlight. i guess some perspectives are warranted. we have another major investment bank that had its offices raided, which is not happening with goldman sachs. they will tell you the problems are not as bad as it looks, but the investors are not buying it. en the share giv price performance. congrats on the scoop and thank you so much. coming up, we are keeping a close eye on oil, sliding towards the deepest monthly loss since the worldwide financial crisis a decade ago. this has russia that it might opect caps at a crucial gathering next week. we will have all the details. from new york and london, this is bloomberg. ♪ i am a family man. i am a techie dad. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make

vonnie: my chart is based on a morgan stanley note. the dollar and some emerging market currencies and it looks like emerging market currencies are being less influenced by the s&p 500 in recent days. this could be because both interpreted as a little more dovish and that would potentially be negative for the u.s. dollar but it would be positive for risk in emerging markets. .e're seeing a divergence you can see that chart on the go.mberg at gtb go -- gtv guy: vonnie quinn wins today. incinating to read that note terms of where these markets are going and the correlations -- anybody who used to drive a german tank gets my vote. vonnie wins. both nice charts. you can find them on gtv go. ♪ vonnie: this is the european close on bloomberg markets. guy: it's time for a bloomberg exclusive. we been speaking with the saudi aramco ceo and he's concerned about global oil demand. >> demand is healthy. 1.3 andooking between 1.4 this year of additional demand. next year will be the same in terms of additional demand. crossing 100 million barrels.

are morgan stanley analyst -- our morgan stanley analyst downgraded goldman sachs because of the scandalher financials look good like bank of america. all of this volatility creates a strong trading environment, so you can see a multiple expansion for some of the financials that are up almost 1.2%. i mentioned volatility. so often we throw out the vix. i wanted to look at the volatility gaze of the nasdaq in the tech sector. most of that has been in focus. bottomed out in february, you had a lower volatility number at a 27 handle. this does catch my eye. a bloomberg dollar index that is weaker. you just heard from the blackrock emerging-market debt portfolio manager that a weaker dollar is a tailwind for some of the foreign currencies going forward and that is a great segue where we can talk about the foreign currencies here and green on the screen. look at this. i must be your lucky charm, guy. pushing all of the emergency assets stronger. our markets are closed tomorrow, so looking so far so good. guy: so far so good. a lot of people are packing up and heading out early. taylor, we are

morgan stanley underweights u.s. b of a 2900. how do you think the next year is shaping up?k we're going to have slower growth in the united states as well as the rest of the world over the next 12 months the interest rate structure that has come up across the yield curve is showing up in the data. i think dollar strength is going to slow manufacturing, industrial activity and i think that combo will slow overall more than expected i think the issue for next year is if we slow growth down to 2%, will that bring interest rates down will it stop the fed will it stop inflation from creeping higher? if it does, we could have a decent rally but if we slow growth and the ten-year yield stays around that 320, 325 area or creeps higher and wage and core inflation creep higher then we have further to go on the down side. i think we might have a further deeper correction and a decent second half of 2019. that would be my guess. >> does the fed raise rates next month? >> it raises rates next month. the economic data in terms of labor market, inflation data is right there. the market wi

an exclusive interview with the morgan stanley ceo james gorman. want to get to the markets, which have seen a wild day so far. we seem to be recovering much of today's losses. >> that is right. we're looking at the selloff in u.s. equities using now. we're still looking at major asset -- averages in the red. down 1.4%. lost six points. slipped below it slows. the nasdaq again would see a better recovery. we take a look at the nasdaq 100, an intraday chart through the whole day. we see how it is coming back. we're

morgan stanley thinks we could be heading into more of a dovish path.ee two more hikes next year, which would be pretty negative for dollar and positive for em. morgan stanley saying it could come to re-examine some of these beaten-down sectors like em, em currencies in particular. em currencies, much of this year and last, have moved in tandem with u.s. stocks. that starts to diverge earlier this year. now despite this fall we see in u.s. equities, em currencies pretty much have been resilient overall. perhaps there is more room given that some of this em sectors are less sensitive to what has been going on in the u.s. elsewhere in the china market open, some people are saying it is worth looking at some of these beaten-down sectors. chinese stocks is one of them. the list is pretty long. high-yield bonds is what some people are throwing out. take a look at how we are set up in hong kong. down about a fifth of 1%. could be a little better in shanghai here today. offshore renminbi not doing a lot. let's get youe caught up with the first word news. they

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the morgan stanley report you are mentioning has some pretty frightening numbers.t in question forecasting fines of $1.2 billion, returning $600 million in fees. the malaysian say they want some of the money back. guy: reputational damage? keith: there is star market damage to think about as well. i've been watching it today. after the thanksgiving day off anothery, down to yet two-year low. guy: i guess the transparency factor is there. thank you very much for stopping by. the markets certainly paying attention. keith campbell. taylor: time for your stock of the hour, united technologies has gotten chinese approval for its purchase of rockwell collins, clearing the way for the deal to go through. for more we are joined by romaine bostick. romain: they were waiting on that last approval from china, got u.s. approval last month. this will close the deal probably within the next couple days. rockwell collins will be folded into united technologies but the real issue for united technologies is there is a plan resume agree that they will break into three parts. getting

to 11 times >> how about the speculative side, the ones trading in at a higher level what is morgan stanley saying? it's not getting any credit because the market says you're going to get negative earnings >> you had the tax cuts giving you this big jump forward and the tariffs a more negative impact than people thought it would by virtue of earnings season >> larry has been trying to talk to the president and convince him of the negative to the market and the economy i want to add one other thing. i don't think the market has to worry about two things i don't think they have to worry the fed will not go too far and you're not going to get the economic growth. if you get the economic growth you'll have upside potential on the funds rate if you don't get it, i still think the fed wants to be in that range but that means we're closer to being done than this idea of a long range from neutral. >> remember terry duffy runs the cme group, sat down with me in naples, florida, and said he thinks we're going to capitulate in the battle with china what happens if that happens you have an entirely dif

big companies including morgan stanley. david lawrence is joining me with a big donation for the food bank. >> yes. we are thrilled to be here today. we offer $25,000 to the food bank for her school pantry program. >>isnt? erare a lot of familie that are food insecure. we would like to change that. we are proud to partner with the food bank. they do amazing work. >> is not only cash, your employees donate time and ours? >> yes. it's a lot of fun for us. we bagged up 50,000 pounds of groceries at the food bank. >> all right. david is joining me now. this is a major donation. what kind of impact will this money have? >> he's being shy. they do more than just donate their time. it is a complete serving. nationally and locally we are generous to improve the lives of those in need. >> it's good to see big companies. >> it is leadership. they set the bar for other companies to rise up to. it is exciting. >> david and david, thank you so much. if you would like to give, go to our website, kpixtv.com. you said you wanted something

morgan, morgan stanley, goldman sachs, and citigroup have submitted plans to increase assets held through frankfurt subsidiaries after the u.k. leaves the eu. it would see their balance sheets in germany grow to $283 billion. says theexpress people's bank of china has approved its license to become the first foreign payments company allowed to build a network in the nation. it will let charges be cleared and settled in china. it is a sign of progress in the access to mainland china. that is bloomberg business flash. yousef: thank you. dipping foreign reserves in china, iranian sanctions, midterm volatility, some of the key themes last week. we take a look at the top charts. >> let's look at the charts this week. china, foreign reserves for october decreased for a third month. you can see that on the blue bar. this amid the rising dollar. people finding ways to get money out of the country. banks in september selling more foreign-exchange to the clients. this was the week when we got u.s. sanctions kicking in against iran. what i have here are iranian production. in the white, exports, bot

where out today with morgan stanley's 2019 outlook. -- we are out today with morgan stanley's 2019 outlookf the world is going to look better relative to the u.s. that can apply to europe. -- there is a lot of uncertainty in italy. the good news is that markets are already quite concerned about these issues. expectations are quite low. if you look at the situation like italy, but there is also -- this also applies to u.k. this also applies pressure. politicians and just their stance. -- politicians adjust their stance. the best case is they are wider for current levels. it doesn't prevent the european economy from growing a trend. francine: how concerned are you on the u.s.? if the u.s. slows down, is that it for fed hikes? andrew: that could be a market that surprises people. we have u.s. growth decelerating to just a 1% growth rate next year. after the fed hikes in march and june and trying to stay on track, but when it is confronted with that kind of deceleration, it has to pause. it has a number of important effects on markets. that should weaken the dollar. that should drive some conv

morgan stanley as well. they are looking for u.s. underperformance starting to happen.ave sterling a little bit weaker. that inoing to look at just a few minutes. the conversation is goldman says it will invert in the second half of next year, leading to the weaker dollar story. crews off. theresa may is making the case for her deal. she is trying to get business backing for her brexit plan. she spoke earlier at the cbi conference in london. changingthe world is fast, our geography is not. europe will always be our most approximate goods market and having free borders is crucial. alix: joining us is an edwards. what was the goal here? what was her pitch? played, thatip you is probably more destined for the ears of the brexiteers. that makes it was interesting because it gets back at those who suggest we should be prioritizing work with other partners. that's not an argument she wanted to go along with. she was asked today what she would say to those in her party who don't like to deal. she said don't listen to me or members of parliament. listen to what business says. h

. >>> coming up morgan stanley out with a warning about u.s. equities well tell you where it says to put your money instead dow is up 336 points stay with us >> still to come on the closing bell we'll be joined by securities and exchange commission jay clayton will join us for an excl exclusive interview and so much more he'll be here with us. >>> agreed to deal with brexit we'll discuss what is next when the closing bell returns >>> they will be ringing the bell today >> meantime the european union leaders and you have been following this story pretty closely. >> they did win the unanimous support for her brexit deal yesterday. it took over an hour in support of that. it was higher but lost that ground it is because she is going to get it for which has been set for the 11th of december it would require major hurdles to be overcome as a no deal brexit would be the default if her deal is not approved by parliment. that is why sterling gave up the gains and ri mains near that six month low despite that small win she got over the weekend >>> up ne

we need one more point or so morgan stanley released the 2019 global strategy report.y much the investment bank downgraded u.s. stocks to underweight while upgrading emerging market stocks to overweight from underweight for 2019. we thought let's do g20 stocks. which stocks are the most attractive at this time? christian lagoon. he is looking at emerging market names. markets here in the u.s. are rebounding. do you agree with the morgan stanley sort of outlook for u.s. equities going underweight? >> it mixed right here. we're at an inflection point. there is a lot of worry about the federal reserve, about a trade deal. it is important to be cautious about u.s. markets. there may be bitter opportunities outside of the u.s., liz. liz: we were looking at g20 companies. we have your two i-shares etfs you like, china and turkey. why? both of these are, there are some real headline risk, aren't there? >> that's right. maybe too early to talk turkey with you, liz, but tur, the turkey etf, it is in an interesting position with the g20 summit coming up, turkey has bounced from

morgan stanley. janice, mom told me you bought a house. ] [ camera shutter clicks ] so, now that you have a house, you can use homequote explorer. quiet. i'm blasting my quads. janice, look. i'm in a meeting. -janice, look. -[ chuckles ] -look, look. -i'm looking. it's easy. you just answer some simple questions online, and you get coverage options to choose from. you're ruining my workout. cycling is my passion. first, it continues to pay paramedics while we're on break. second, it ensures the closest ambulance can respond if you call 9-1-1. vote yes on 11. gavin newsom has lived the rich made him powerful. but he's done nothing to help us. every day i work harder. rent, food, and gas prices climb. poverty, homelessness-- gavin admits it. we created-- it happened on our watch. what you see out there on the streets and sidewalk happened on our watch. now he says he'll have courage, for a change, but gavin's had his chance for eight years, and he never lifted a finger. it's time for someone new. john cox, governor. proposition 11 "propositi

are at morgan stanley and your knees are shaking. you need to get smarter.ffect at morgan stanley. go in with a decent chart. steel that chart at gtv . this is "bloomberg." ♪ francine: this is bloomberg surveillance. tom and francine from frankfurt and new york. we are talking about banks. we heard from mario draghi. coming up, the speech. i know he will address on the concerns in europe but not only about strength or weakness but on political turmoil including italy or brexit. tom: italy off the radar. it is news out of italy that continues to concern so much of european banking. let me do a single best chart and withhen roach years in china with morgan stanley. it is one of our most famous charts, china constant gdp, real the 1990's, the miracle of that decade, the crisis. the template across all of this for an authoritarian regime has been to employ people. the number one thing is keep them busy. is that the fear, the major topic? stability is a big deal and employment is the road to stability. your chart shows the growth rate peaking in 2007 which wa

the morgan stanley ceo says the market is over worried about general electric.ason: joining us now is lisa abramowicz. we love her thoughts on wall street. let's talk about that going. i remember sitting in this newsroom, joe weisenthal predicting everybody is going to go home, talk about bitcoin at thanksgiving. this may be second only to politics as the one thing you don't talk about. if you got your aunt martha to buy some bitcoin, she is not going to be happy with you. lisa: i recommended my family by bitcoin last thanksgiving and this year is going to be awkward. it declined 75% since its peak. it is not the buzzword anymore. it really was a fad and that is clear. what is going to be on the mind is the dow. my mother and mother-in-law are going to use the dow and they're going to come in and day what is happening? alix: your mother tracks the dow? lisa: you are going to see headlines like bloodbath and boeing getting hit. i bet that comes up. should i sell out now? putting money in the mattress. lisa: i have had that conversation before. on a more serious n

. >> that's what morgan stanley is looking at >> multiples have come down from 19 1/2 to 15 times that's why you kind of have to ignore some of these days, these gyrations and focus on fundamentals i've been nibbling i'll buy next week if we get more trades. >> joe >> i think the market is absorbing bad news more than it has the last six to eight weeks. given the news with apple i thought you would see a significant breakdown. you're seeing a recovery i believe apple is at a significant support area 169.23 is the low for the year >> 173 and change now. that battle between apple and microsoft. >> yesterday we got down to 170.26 today to 170.88. you have the breakout in apple i think they're at a support level, again, i don't think you'll have significant participation. >> kevin o'leary, tariffs are still a big part of the conversation which, you know, you've sided with the president's policy we had another dow component ceo come on the network this morning talk about the negative impact of tariffs listen to what greg hayes had to say, and we'll kick it around on the other side. >> tariffs

plus morgan stanley mike wilson with a warning, do not buy this dip. he is here to explain why it's time for bulls to take a back seat the market selloff the dow sinking 600 points at the lows closing down 550 points. that's nearly 1,000 points in two days the bears certainly on the attack the dow and s&p 500 erasing gains for 2018 both in negative territory the s&p lirmly in correction with ner neerply half the stocks in the bear market the nasdaq plunging fromhighs down a whopping 15% from the peak seemingly to no catalyst as the market heads in bear country which would be another 10% down from here. pete, what do you say. >> i think it will approach the levels steve grasso was on on power lamkin fantastic with the charts up there. he was talking about different levels and he talked about earlier this year, october but also back to the january, february drop we had. can we test those or break through? absolutely we can test the levels but yes. the one thing interesting to me dan watches like i do. i look at the vix and i think it's more meaningful th

when it was $145 a share so i respect morgan stanley, for taking them to overweight here, but the guysho have been dead on on this are the guys at cowan, not morgan. >> my one issue with the group in general this is a group with a lot of exposure to labor, to minimum wage labor and labor markets are so tight in some places just finding people to fill those jobs, let alone having them do an okay job at it is becoming increasingly difficult and so i think it's going to put some upward pressure on labor costs. >> coming up, bullish options moves in a worldwide steel play. how jon is trading that. first we give awe check on the s&p 500 sectors, s&p is down nearly 6, energy is leading the way in the green, te plichulng up the rear. we're back in two minutes. for each job exxonmobil creates, many more are created in the community. because energy touches so many industries, it supports 10 million u.s. jobs. your but as you get older,hing. it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actua

economists at morgan stanley only see two hikes in 2019 after the december increase. us now, the head of ishares at blackwell -- blackrock. those are differing opinions among big houses on wall street. marketook at expectations on this chart, you can't help but notice the precipitous drop in expectations for rate hikes in 2019. a market, pricing in one height and 40% probability of a second. have you changed your views on whether we will see a pause in hikes in 2019 given the turmoil? >> i am inclined to look through the market turmoil in at the end of the day, the fed would respond to inflationary outlook to growth outlook. on both fronts, we continue to see further upside versus consensus and where things are why wemoment, which is think over the next 12 months, we will see the rate hikes. december, more than pricing -- priced in and a two more for the first half of next year and from then on, it is data dependent. weeks, in the last few and focus on fundamentals. the equity selloff is one thing, but it is what has been happening in credit. i have a chart that shows

morgan stanley. >>> "lightning round" is sponsored by td ameritrade >> it is time.s time for "lightning round." >> buy, buy, buy. >> sell, sell, sell! [ buzzer ] >> and then the "lightning round" is over are you ready, skee-daddy? the "lightning round." we start with bob in florida bob? >> caller: cramer, boo-yah. >> boo-yah, bob. >> caller: hey, i been studying that the demand for lithium is expected to go quadruple by 2025, and the world's largest and richest lithium flats are in santiago, chile. so i did some homework on the top three lithium producer. >> yeah. >> caller: and i'd like to ask you about number two, ticker symbol fqn, sociedad qm chile. >> what you've just described is a known story. known stories are know of. we're not going to make any money with it. andy in new jersey >> caller: hey, how are you? >> i am good how about you, partner >> caller: i want to know abo about -- >> which one >> teva pharmaceuticals. let's go to texas. >> boo-yah, jim. from seguin, texas. >> i have been there i like it. what's up? >> caller: i'm wondering i own praxair. ap

mcdonald's sizzling to a fresh all-time high today, following a vote of confidence from morgan stanley. upgraded the stock pris from 210. and in the past month shares of jack in the box up 16% starbucks up 15% while chip on that and mcdonald's higher by more than 4% in the past month is now the time to get into the fastfood names. >> mcdonald's people say valuation is extended but they have said it a while kudos to tim, he went out and did the thing with the kiosks, remember he said it's a technology play. now i don't want -- i follow you on twitter, by the way and this is getting off topic. but you tweeted something today. >> especially righton topic. >> because the morgan stanley upgrade did with the modernization efforts as mcdonald's and part of that is ordering by touch screen on kiosk. what did one study find on kiosks, all of them had feces on them this is for people's good health, right, tim. >> i don't know why we are going to me. other than i used the kiosks but i washed my hands before the meal. >> before you used the kiosk. >> i wash all day long look at me there very happi

morgan stanley is talking about selling euro against the pound.tart to see the pound gaining a little bit of ground, expectations a deal could be coming through. how strong could the pound get? vincent: hard to forecast such a fixed movement. by christmas in london, it will be much more than today. anna: is that close enough to the deadline? christmas? that's three months below the deadline. vincent: if we believe the news next week should lead to a reaction in a fixed market, and there's still a decent premium on the pound still suffering from these insurgencies. there's a good upside for the pound, definitely speaking, if we have a deal. anna: are there other assets? clearly the big story there has been the global players cushioned from the brexit policies and gaining from translation fx in currencies. vincent: definitely european assets, as well. the european story doesn't look so appealing, given these ongoing negotiations and the fact international investors don't stand where europe is heading to. having clarity on this issue and will we need

i'll give you two but raise you mike wilson over morgan stanley who talked about what would drive us down and talked about when we get a correction it is going to be essentially faang but said technology will drive us down. he has been dead on. >> there will be a level we will regret that we sold tech it's just not here >> i do want to step away for a couple minutes >> why what do you have going are you going to call coach? >> he has to sell some campbell's soup. >> here is what else is coming up >>> straight ahead, a very bullish call on starbucks. see why the analysts are so confident this stock is on the rise >>> before the break, our data partners at kensho on how poorly alibaba usually fares after singles day. the numbers show it trades negatively 75% of the time a month later, down 4% on average. for more go to cnbc.com/kensho >>> tomorrow on "the halftime report," we're live from the global financial leadership conference in naples, florida. on our guest list apple's steve wozniak and terry duffy. hey, what are you guys doing here? we're voya. we stay with you to and through r

morgan stanley has a note out this morning.hose to equal weight on japan and overweight on emerging markets. at the bottom of your screen, you have bitcoin. you thought you escape the worst of it. there's more to come. $700 billion lost on bitcoin, down 6.66%. go to btv live go and see the interview. this is nearly the worst air market in -- bear market and bitcoin history. that's paltry compared to 2011. nejra, good morning. nejra: welcome back. you told me $700 billion from bitcoin, $300 trillion has been wiped from u.s. equities. we sell the markets drop into a correction on friday, dragged down by oil is energy stocks plummeted. we are bouncing higher on the features in today's session. s&p, nasdaq, and dow futures. look at tenured treasury yields, edging higher. but it doesn't -- this is the first date since november 8 the 10 year yield is heading higher. there are questions whether we will breach 3% to the downside. watching the euro, cable on 128. not only are we looking to see whether theresa may could convince lawmaker

morgan stanley upgraded. now is the time to buy. apparently some people are listening.s but at 189 is this facebook a scathing report on the company and "the new york times" includes details a purportedly ignored warnings about the site being as for governor propaganda and ethnic cleansing. facebook hired a republican opposition research firm to discredit at this protesters. the stocks down $2. 141 on facebook. ten cents chinese company reported higher profits. it says it increased advertising, mobile payments and clouds services all gave it a boost in a down market. that stock is up 16 cents. here's a positive side. more than 875,000 new millionaires were added in america in the last year. the report also shows the total wealth in the states grew by 6.5%. much higher than the world average of 4.6%. now this. get up to $10,000 just by moving to just one city. you can also get discounts on your apartment, home and utilities. coming up, we will tell you which city is making the offer. a lot of news on e.u. cigarettes and tobacco. the fda looking to ban menthol cigarettes.

. >> morgan stanley suggests the best way to maintain stocks is to be diversified, have some positions in the u.s., some in europe and some in developing markets. >>> the santa clara county sheriff's office sh off their new potners in training. the two new drugs will patrol on vta working full-time with their handlers trained to sniff out explosives and the pups can detect up to 18 different odors such as dynamite or tnt. >> these are young dogs, so it's going to be for years to come. >> the pups' first shifts begin next week. santa clara sheriffs say the pups are friendly and you can pet them but with permission. >>> the giants were still playing baseball the last time it rained in san francisco. it has been 49 days since one drop of rain in the city, but we can see alcatraz, marin, angel island the first time in two weeks, visible getting better. we'll talk more about the rain coming up. >> also head trouble in toyland, the most dangerous toys on the market ahead of the holiday shopping season. >> coming up at 6:00 tonight silicon valley teens get google's attention, how their invent