morgan stanley cutting jobs as part of an efficiency drive. they are now set to face a $150 million to $200 million charge with those job cuts. morgan stanley to face up to $200 million in charges because of these job cuts of 1500 jobs. that does it for "the closing bell." "what'd you miss?" is up next where we will be looking at the u.k. election coming up in a few days. this is bloomberg. ♪ ♪ live from bloomberg world headquarters in new york, i'm romaine bostick. here is a snapshot of how u.s. stocks closed today. nasdaq allp, and down marginally. democrats in the white house finding common ground, closing in on a potential u.s. congressional approval of the new north american trade deal. u.k. voters prepare to lead to the polls, deciding the fate of prime minister boris johnson and his plan to make good on brexit. morgue -- morgan stanley eliminating 1500 jobs. chargebe facing a hefty tied to those cuts. cyin --tral bankers vying with trade negotiators for attention this week. the federal reserve and ecb making their final monetary decisio

still to come, hundreds of job cuts at morgan stanley.will have details on the staff most affected. this is bloomberg. ♪ paul: this is daybreak: asia. i'm paul allen. shery: i'm shery ahn. now to the big changes of morgan stanley and hsbc. both announcing major staff changes. those changes include slashing 1500 jobs, including executive, sales and trading. su keenan has more with the latest. let's start with morgan stanley. it seems to be a sign of the times. su: we have seen deutsche bank and citigroup cut hundreds of jobs, but this announcement by morgan stanley is significant. 1500 jobs. it will hit mainly in new york and london offices. it is fairly broad-based. to be take a look at how the stock is performing, you can see the bumpy ride year to date has a lot to do with the uncertain global growth outlook. it also has to do with the fact we have had a multiyear trading -- many forust firms. it moves towards electronic platforms that removes the need for humans. these cuts at morgan stanley argued towards tech and operations. also sal

i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley. through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from managing inventory... to detecting and preventing threats... to scaling up your production. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. >>> all right. well bang to "fast money." you think that a day after boeing nounsed halting production of the 37 max the stock is lower that was not the case today. boeing shares managed to finish unchange while the production halt didn't impact the stock too much today. it could have impact on the entire american economy. steve liesman at hq with more on the story, steve. >> it may be hard to imagine but economists estimate that boeing's decision to halt production of the 737 max can lower overall u.s. economic growthin the first quarter and maybe do measurably. the negative affects they estimate could be larger than last year's government shutdown. forecast he is both jp morga

that's where the upside is morgan stanley has more from -- >> i don't agree with that >> i don't either>> i do think, though, it's really interesting because, you know, those models are really diverging. so, before i would have felt like five, ten years ago i would say morgan stanley and goldman are competitors but their models are diverging. i think we own goldman not we don't like morgan stanley, but interesting to see the next few years what type of model works. >> josh is to me pointing out that fo that goldman is investing and if they are able to take market share, morgan stanley is the one that you put high on that list >> why not schwab? why wouldn't i say schwab in that space >> they're definitely going, 100%, 100%, that's true. historically, though >> theirer much bigger >> a household been able to call 1-800-goldman and what scott is picking out of what im arer saying if morgan nails this thing with the acquisition, it's a formidable competitor in the $1 million to $10 million household business which, frankly, is the bulk of the wealth management business there are nine milli

this is the second year that morgan stanley sponsored this concert on the morgan stanley children's hospitalharlem. raised goesroceeds to the hospital. prior to this i did five carnegie hall concert where all of the proceeds went to a better chance out in jacksonville, florida. it is a privilege and an honor to be able to use the other side of who you are to help other people. but certainly as a business executive, you can write a check, build a board, but to use another part of your god-given talent to be able to help other people, and to do it with your morgan stanley colleagues -- alix: all of the singers are for morgan stanley? how did you do that? carla: we said, if you want to be in the show, send us 30 seconds of using your favorite holiday song. a few of my colleagues and i looked at it, and we picked the singers who were in their last year, and we added seven more singers this year. alix: no kidding? that is some serious workplace experience. carla harris, always great to see that concert. happy holidays. carla: happy holidays to you. alix: coming up, the pound set to weaken in 2020

i'm joined now by the morgan stanley chairman and ceo, james gorman for an exclusive interview. james, great to see you. thanks for joining us. >> thanks for having us, wilf. >> great to have you here in person in the stock exchange you managed to change all the tickers to morgan stanley in the background someone on your team did very well >> i thought it was always that way. >> not quite >> as we were just discussing, i caught up with some of your peers earlier in the week at a banking conference, and the tone there was very, very positive on the u.s. consumer, perhaps less so, but coming off the lows for corporate sentiment. is that how you see things at the moment >> i mean, it's hard to argue with it. we've got 50-year unemployment lows consumer balance sheets are in good shape and obviously, the corporate sector, you know, after the tax cut, there was a major surge a little bit of trepidation coming out of the summer with the trade talks escalating and the election discussions obviously creating more uncertainty. so i think the corporate sector has come off a little bit. co

morgan stanley is the latest to issue pink slips. about 1500 jobs have been slashed. who claims he invented the world's largest cryptocurrency says he may not be able to abide by a judge's order to surrender some of his bitcoin fortune anytime soon. earlier this month, a federal judge in florida found australian scientist craig documentsmitted false claiming he owed another man half of all the bitcoin he had mined. he says he is not sure he will have the information he needs in time to it and if i the coins he has to split. shares of qiagen tumbled more than 20% today, the biggest drop since october. it hasch company says decided to continue as a standalone business. an acquisition could still happen. that is your latest bloomberg business flash. still ahead, it's been a tough year for bankers. jobs are going thanks to slowing economies, greater efficiencies as well from technologies. we will crunch the numbers next. this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. this is "bloomberg markets." let's check in on the first word news. here's viviana h

morgan stanley is looking at a target of 3000 for the s&p

morgan stanley cutting 1500 jobs , 2% of the workforce.otions are affect offices in london and new york. for more, dani burger has been looking at this. another piece of bad news for the industry. >> it keeps it coming. workforce, most of these jobs are coming from executives in sales and trading as well as technology and research jobs. this is a push for efficiency. it has been a multiyear slump for banks. morgan stanley is not the only one has made cuts. newlso has to do with these trading platforms. perhaps human jobs are not as in demand as they once were. we are also seeing other banks like barclays. over the summer they cut 3000 jobs. this is not the worst we have seen, but a bright note out of barclays, promoting 56 of their employees to managing director jobs. they are mostly coming from trading and investment banking. it shows the push they are making into investment banking. against 33% of revenue in their last earnings. it is not necessarily a different story. it is just where barclays is concentrated in their efforts. at least

we are morgan stanley. >>> and welcome wak to "fast money. it's time for the chart of the we can and this week, the more the merier it's not just one chart that dan brought us it's four? >> well, listen, brian, we're telling a story here and i know a picture tells a thousand words but lets go with a a thousand charts here is the deal. lets start with the s&p 500 up nearly 30% on the year just a few trading days left here i think what's interesting look at the chart there in late october. broke out of the range it had been up about 7.5%. which obviously is a whole heck of a lot in a very short period of time in that time period have we had headwinds removed obviously the rd trade stuff moderated and the fed a accommodative. that's where i want to go next here the next chart is interesting. and this is a hat tip to a contributor of cnbc. peter. and obviously if the the fed had been coming down at some point earlier this year it started expanding. peter mentioned over the last four months it's grown about $100 billion 400 in total off the bottom

bythis is a yearly exercise morgan stanley wealth management., they got four out of 10 right. they tend to list these things in terms of most likely to happen. their top macro risk for 2020 the perfect leadership storm. the idea is that we get new prime minister's, new presidents that come into different developed nations and that in it of causes a regime shift and is problematic for markets. a lot of these would seem familiar to investors. when you get to numbers nine and 10, they get a bit more esoteric and futuristic. they say things like ai versus ai warfare, gene editing gone wrong. they have a large list of things that could possibly keep you up at night. newmost likely one is regimes coming into power in democratic nations. anna: thank you. i think thank you. a lot to worry about. dani burger with morgan stanley's top 10 macro risks. quite a long list. let's take a look at some stocks to watch in just a moment. let's have a look at some futures. futures suggesting we will not be moving all that far at the start of the u.s. -- the european

we are morgan stanley. >>> investors are hoping for a santa claus rally.ing of gains, shares of boeing are on the rise this morning amid the fall out of the ce o's firing as the company luke for a fresh start the clock is ticking to get those final gifts in retailers are hoping the final sale's push will provide some cheer for the shopping season. the second half of "worldwide exchange" starts right now ♪ >> welcome back to the show. here is how stock futures are looking. the s&p looks to lock in the best performance since 1997 remember markets will remain closed through christmas day s&p opening by about one point the s&p and dow up by about 12 points nasdaq up about 6. today also kicks off the first day of the so-called santa claus rally period happens on the final five trading days of the year and the first two trading days of the new year s&p has posted a 1.3% gain on average in the last decade, the markets only posted two losing sessions that was in 2013 and 2014 again, that period seasonally strong overall. let's check on the asian markets. you can s

i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley. looking to simplify your skin care routine without sacrificing results? try olay total effects. one dose provides more vitamin b3 than 50 cups of kale and improves 7 key areas of visibly healthy skin. try olay total effects. as a principal i can tell you this. when one student gets left behind, we all get left behind. this is a problem that affects each and every one of us. together with ibm, we created a whole new kind of school called p-tech. within six years, students can graduate with a high school diploma, a college degree, and a pathway to a competitive job. you know what's going up today? my poster. today, there are more than a hundred thousand p-tech students around the world. it's a game changer. wat t. rowe price, hundreds of our experts go beyond the numbers to examine investment opportunities firsthand. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price. inves

bank of america morgan stanley says we have no positioning going into the u.k. uity market but this is from j.p. morgan. they bust that. they say billions expected on outsidelines could be there. foreigners have invested and have played catch-up and the adjustment has already taken place. do you agree with bank of america and morgan stanley or do you think jpmorgan a right? is hard to allocate to the u.k. asset market at this point because you don't have clarity about the final deal. i think investors come in at the lower parts of sterling and ftse and buy the risk rally into the u.k. at this point, it is hard to say whether bankamerica or morgan stanley is right. you have to step back and see what the market will step into next. we had the theme of elections and now, we have a theme of when is the final exit date? that will be the theme. essentially with the recent announcements, the story from "telegraph," about boris johnson's plan, the theme goes back to let's look at the data and let's see if this can continue over the next one or two years. if you look at t

morgan stanley is coming off of a pretty good run. in about $5 billion in that business last year. even though morgan stanley is cutting about 2% of their workforce, you can still make money if you were heads. watching that happen i think will be very interesting. if they start to invest more in technology, people say you can do both. you need the people and you need the robots, but can you generate more revenue with less people? alix: let's get to our third story, where we focus on women on wall street, moving and shaping the world of finance. today we take a look at hedge funds with maria vassalou, capital management, currently in the process of raising funds for her own hedge fund. what was it like to strike out on your own? maria: i was with weinberg for six years. the moment was right to make this move, and in discussion with my investors, we decided that it made sense to move ahead. sonali: do you believe right now, for all the talk of money pouring in, and you are speaking at an event later today on diversity for hedge funds, f

i'm really excited to be part of the morgan stanley team. i'm justin rose.with cancer. judeeverywhere. like...wide new york. oklahoma. tennessee. florida. donate now at stjude.org or shop wherever you see the st. jude logo. apple card. is a new kind of credit card, created by apple, so it's simple and transparent with a new level of privacy and security. it lives here and here- on your iphone, and it will save you 6% on holiday gifts at apple; like iphone, apple watch, airpods pro and so much more. ♪ apply in as little as a minute, right in the wallet app. 15 minutes ag and here is a check on the closing bigboard. in the middle, the biggest dow leaders, home on depo, walmart and visa and the laggards, that's boeing, 3m and cisco. >> 15 minutes left to go barbara, what is your last chance trade >> lululemon is the stock that's up on this, 90%. it's been a big winner and it's also not cheap but i think it has a long runway of growth ahead of it. you look at what they're done the last seven quarters, their earnings, their sales, their same-store sales are in th

morgan stanley is about to cut 2% of its work force because of an uncertain global economic outlook according to people with knowledge of the situation the job cuts will hit technology and operation rolls the hardest. cnbc.com reporter breaks the story just moments ago let's bring him in for more. what do you know here and where are the cuts likely to take place in are they do m place? are they domestic, global? >> what we think is going to happen is they will focus on people in operations people without front office responsibility less traders and sales people and investment bankers and more people in the background that make everything run but who are a bit more of a commodity. >> are you surprised the cuts are coming from morgan stanley at a time when the banks are facing lot of competition from the big technology companies >> absolutely. it can't be great for morale and not a great calling card to hire away from facebook and google if they understand they have to cut back 2% is about 1200 people. it's not massive for an organization that's about 60,000 however, my understanding is this is

i'm really excited to be part of the morgan stanley team. i'm justin rose.e are morgan stanley. . >>> welcome back if you are just joining us, we had a fairly dramatic turn in just the last few minutes or so. futures began to show they are higher now they are down 85 points. moments ago in the uk, president trump said this about china trade. >> i have no deadline, no. in some ways, i think it is better to wait until after the election if you want to know the truth. i think it is better to wait until after the election with china. >> the audio no perfect there. what he said was, maybe it is b better to wait until after the 2020 election for a deal with china. the deal may have to wait until next year even after the ee election >>> health insurance, software and biotech deal united health expects earnings in 2020 to come in largely below current estimates but right now above estimates. kind of like shares of the news balancing out stocks shares of coupa off 3% your big mover of the day. shares of audentes are doubling. astellas to buy for $60 a share or $3 bil

andrew is cross asset strategist at morgan stanley.ics.art from the andrew: i think the global economy will look a bit better. we have quite a bit of easing in 2019 will filter through. the fact trade is no longer getting worse between the u.s. and china helps. that recovery will look uneven. it will be strongly focused outside the u.s.. that's where the trade changes help the most. that's were fiscal policy will ease the most in europe and japan and china. the u.s. economy will look quite stagnant. you have a similar growth right next year and corporate profits won't grow at all. francine: i have a great chart looking at a five-year quote -- correlation burden let me go -- when we go back to some thing more used to. andrew: i think we are probably close to that. last several months of this year quite a bit of optimism on stocks that has not been reflected in the bond market. as you flip the calendar we will get a very early gut check of how strong the corporate profit machine is when earnings come out mid january. if those are strong

morgan stanley has pinned the first half of the year as the highest since 2000. equity valuations are high but leverage levels are also high. one way that private equity firms make a return is by delevering the companies they invest in. lisa: are we expecting to see a pickup in a number of lbo's next year? sonali: people are waiting for valuation to come down a little bit. only so long you can hold onto cash. everybody is looking at warren buffett, wanting him to spend more. until that happens, until people get comfortable with the debt markets, you'll not see it come back. lisa: even warren buffett tried to bid on a deal but got outbid by a private equity firm. he said, i don't feel comfortable at these valuations. sonali: apollo ended up buying the company, tech data. you are seeing people dive in because you cannot hold onto cash forever. at the same time, remember, kkr had a rumor about walgreens, a huge buyout. still a rumor. we will see if the big deals start coming back. lisa: one impediment standing in the way of more leveraged buyouts has been valuation,

i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley. through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from finding out what's selling best... to managing your fleet... to collaborating remotely with your teams. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. >>> the purchases are over a two year period. do i think it's doable yes. does mr. lighthizer think it's doable yes. >> that was larry kudlow talking about the agricultural purchases in the trade one phase deal that's been concludesed with us and china. let's bring in kayla to explain these numbers a bit more you have some insight. >> the total $200 billion in purchases that would take place over a two-year period but here is how the administration gets to that 40 to 50 billion dollar number on ag they are using the baseline of $24 billion from 2017. that was the level of purchases china made that they are assuming that china will continue to buy at that level. they

i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley.oll, please. yeah! tonight is a magical night. where anything is possible. it's party time. woo! here we go. ha, ha. now for the icing on the cake! come, we're about to begin. >>> i'm sue. looking to crackdown on the number of vaping related illnesses, the derksa and fda a shutting down 44 websites selling illegal vaping cartridges the products have been linked to thousands of lung injuries >>> one illinois boy got his christmas wish a bit early take a look at that. the 11-year-old who suffers from a rare speech disorder asked for 100 inflatable christmas decorations and numerous strangers answered the call. that's beautiful that's the news update this hour back to you. >> very nice thank you very much. time for our power movers for a friday u.s. steel falling 40% cutting its dividend to a penny a share. can't get any smaller than that. winnebago up next. the stock has more than doubled this year. finally carnival beating on both earnings and revenue. the company's krerceo will joins o

the risk of morgan stanley, which i know is shared by many who watch this program, the risk has skewed asymmetrically to cuts in 2020, but the reaction function of the fed has shifted. is that your take? kathy: i think they would need to see, as jay powell said, they would need to see a material change in the outlook to make a change good the interpretation is we would have to see a worse economy in order to start cutting again and we are not even considering raising rates. but if we are right, we see more upward pressure on inflation, that sort of expectation might shift in the second half of the year. jonathan: jim, do you share that view? that the fed is not going anywhere through 2020? do you have an understanding of the threshold that would bring the fed back to the table? jim: no, and i don't know if any of us really do. remember, they did a fed listens tour in 2019 and they will do it in the first half of next year, roll out a new policy directive. it is expected to be an average inflation targeting policy, which means even if we get the uptick of inflation expectations, the fed

this is after morgan stanley raised the stock to overweight on a rebound.g a cyclical upturn last year well help a profit turnaround in the second quarter. you can see it has not been a great year for au optronics. when you look at analysts' recommendations, they are more neutral on this stock. thesen get a glimpse of stocks on your bloomberg terminal. plenty more ahead. this is bloomberg. ♪ juliette: it is almost 11:30 a.m. in singapore and we are in the middle of the trading day. flat ins and a poor. also, we're hearing that singapore has a property glut that could take years to clear. the city state has an overhang of almost 32,000 units. sales have averaged about 2500 homes per quarter. it could take about four years to clear the glut. for now, let us get the first word headlines from su keenan in new york. su: starting with mexico which says changes to the successor to nafta must respect what it calls its red lines. the foreign minister says the u.s. proposal for steel and carmaking originating in north america would only be successful after five years

morgan stanley designing to comment. uber is facing another roadblock in germany.ng it.rankfurt the ruling says uber's business model is anti-competitive. customers will still be able to order regular taxis through verse app. that is your bloomberg business flash. nejra: thank you. coming up, a record high this week. nike fails to keep investors happy. we find out why. when you are traveling to work, tune into bloomberg radio. this is bloomberg. nejra: this is bloomberg daybreak: europe. nike was out with results yesterday. despite quarterly results soaring, it dip in late trading. late hoursipping in trading. traders are interest of losing money if the shares opened up lower again today. look at this option market. history,hest in nike's twice as many bullish bets. a lot of momentum going into earnings. the earnings result did be the street. two things weighed on those results. shares dipped in after-hours trading. a lot of people hoping that this would be a different story. they could lose money today. our producer says nike is the greek word for victory. nejra:

than anybody else does, according to a report from morgan stanley we speak with the analyst behind tuste when "squawk alley " " rern there's a lot of talk about value out there. but at fidelity, value is more than just talk. we offer commission-free online u.s. stock and etf trades. and, when you open a new fidelity brokerage account, your cash is automatically invested at a great rate -- that's 21 times more than schwab's. plus, fidelity's leading price improvement on trades saved investors hundreds of millions of dollars last year. that's why fidelity continues to lead the industry in value while our competition continues to talk. ♪ talk fidelity. >>> welcome back morgan stanley estimates amazon delivers close to half its packages in the u.s., cutting into profits of other shipping companies like ups they're delivering 2.5 billion packages in a year joining us, morgan stanley analyst. robbie, good morning >> good morning. >> you think amazon won't just be delivering its own packages or third party sellers within amazon but packages at large it will be a full fledged logistics company

cross sector efforts that we have with the strategic of backing of morgan stanley.arkets are communications and transportation and observations. the human exploration part is critical to increase public awareness and public support shortly before neil armstrong died, he was asked are you disappointed of the pace of this space program? he said, "yes, i hope we could have done more." when asked why, when we lost our rival, we lost the public support. that's going to be exciting thing for the capital market of that innovation. >> when you think of trillion dollar deficits and interest spending, making cuts to food supplemental programs, how much of that is a push back on the national security interests and sort of putting a flag instance. the emphasis is duo purpose. the difficulty of putting a man in the moon, bringing them back alive, the secondary implications for compute, internet, sensor have affected and we have been monetizing in the philosophy commercial of activities and so every step of the way, that interplay between government and national security which ma

i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley. doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. >>> so many stocks just don't know when to quit. the retailer that sells western and work related footwear. this has been a cramer fav for ages it's up 150% for the year. the source of the strength, they keep putting up incredible numbers. they reported the end of october, they delivered ott top and bottom line that was spectacular. you know these retailers are not doing those kinds of numbers anymore. can the stock keep climbing as we head into 2020? let's take a closer look with the president and ceo of boot barn better read on how the company is doing and where they're headed good to see you. i have to tell you, you changeded my life. i drafted zeke in the first round of fantasy and you no he what i put on? your hat and i'm thinking that people are wearing your hats in all different places, so differen

>> well, contessa, morgan stanley downgrading roku to underweight from in line that sending the stockt 14%, though it's down almost 15%. it's worth noting the stock is still up about 350% year-to-date morgan stanley writing, quote, we believe there are risks to growth expectations, not reflected in current valuation levels specifically, we think revenue and gross profit growth may slow meaningfully in 2020 but it's worth noting, overall, wall street is still bullish on roku according to fact set, there are 13 buy ratings, two holds, and three sales. guys, back to you. >> julia, thank you so much for that we discussed this one a little bit earlier. if you read through the note the bit where i have read a few notes over the last year, it's the sales of the hardware as opposed to the advertising growth, which is the more sexy bit, the latter part that people tend to pay up for in other bullish notes. >> that's for sure the real takeaway is when you have a valuation on a stock like this that's addressing this very large fast-growing area, it's -- the valuation is incredibly sensitive to s

i'm really excited to be part of the morgan stanley team. i'm justin rose.morgan stanley. - [spokesman] if you've tried colleg(group cheering)shed, snhu lets you transfer up to 90 credits toward you bachelor's degree. - [woman] it doesn't matter how old you are, you can do it, you can finish. - [spokesman] finish your degree at snhu.edu as a principal i can tell you this. when one student gets left behind, we all get left behind. this is a problem that affects each and every one of us. together with ibm, we created a whole new kind of school called p-tech. within six years, students can graduate with a high school diploma, a college degree, and a pathway to a competitive job. you know what's going up today? my poster. today, there are more than a hundred thousand p-tech students around the world. it's a game changer. >>> here's a check on the closing bell big board at the top, the major averages all closing at record highs. below, today's best-performing sectors, consumer discretionary, financials, utilities. the biggest dow gainers, goldman sachs, johnson &

he is senior portfolio manager of morgan stanley and he is joining us from chicago. andrew, you obviously were listening to our conversation. how much of this big run medding into the end of the year is short lived versus can continue when the calendar flips? >> well, i think that jon is right, there is no selling and there could be some selling on january 2nd because people are waiting to book gains until next year. could that have some short term impacts on the market? i think short term yeah. but i think what is -- you know, i don't totally agree that it is management chasing performance because if that was the case, then energy wouldn't be the best performing sector this year because it is the worst this year so i don't think that it is -- i think that it is just money is coming into the market and there is so much money that has missed out on this rally. we're in the early innings of the capitulation of the people that sold out earlier this year getting back in. and i think that that will continue in 2020 >> what is the biggest risk then out there? there has to

. >>> ahead, is skechers the next ni nike morgan stanley says virgin galactic is ready for take-off aank analyst heads to a d nference anthe peloton ad wife moves on it's all coming up on "the exchange." u.s. stock and etf trades.ree e and, when you open a new fidelity brokerage account, your cash is automatically invested at a great rate -- that's 21 times more than schwab's. plus, fidelity's leading price improvement on trades saved investors hundreds of millions of dollars last year. that's why fidelity continues to lead the industry in value while our competition continues to talk. ♪ talk fidelity. >>> paul hudson's investors on the pipeline challenges, profit pressures. on ""squawk box" tomorrow. >>> let's catch you up on a few stories that should be on your radar. time for rapid fire. here's a breakdown of the headlines. dom chu, kate, bill griffin, welcome to you three. >> hi there. >> let's move to skechers. whether or not the shoes are cool is up for debate. no question about the stock. the shares jumped more than 75% this year alone, outpacing, you see it there, the rival ni

i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley. whether you're out or here on a wifi hotspot. xfinity mobile has more coverage to keep you connected to what matters most. that's because it's the only wireless network that automatically connects you to millions of secure wifi hotspots and the best lte everywhere else. and now get $250 off when you buy a new samsung phone during xfinity mobile beyond black friday. plus, you can save up to $400 a year. click, call or visit a store today. >>> welcome back to "fast money. we have the earnings alert on two software names salesforce on workday. beating on top and bottom lines. salesforce conference call getting under way. we are listening and bring you headlines. in the meantime let's talk software in general because it's been a bright spot in the market the ig etf track the space up more than 30%. let's bring in jerry wisefield, the tech managing specialist at jeffers. >> thank you for having me back. >> what is it about sphere, the valuations themds or the environment of the markets it'

the final frontier could in fact be a real money maker morgan stanley started coverage of virgin galactic stock on monday it expects out of this world results for the possibility of state space tourism analyst david jonas wrote to investors a viable space tourism business is what you pay for today but a chance to disrupt the multi-trillion dollar airline industry is what is really likely to drive the upside we're going to get to that in the sec it following the rating from morgan stanley virgin galactic stock is up 14 percent to over $8.00 but still well below the high of $12.93 not exactly stellar the investment banks said if all goes well the price target for the company would be around $22.00 per share so there's still a lot of room to move virgin galactic expects to launch its 1st space tourist in 2020 and we'll try to increase that to 3000 people a year over the next decade you might note that the comment about disrupting airlines which i said i'd get back to burgeon galactic road show they laid out a 3 phase plan 2 of which focused on tourism while the 3rd look toward pointed toward

welcome back morgan stanley is planning to cut $1500.00 jobs or roughly 2 percent of their workforce students certainly in the global economy there's a there's a trend here the layoffs will focus on employees in technology and operational positions according to sources familiar with the situation now the bank which has roughly $60000.00 total employees will also take charge of between $150000000.20 due to the layoffs in october morgan stanley and now its earnings which beat expectations rising by 2.3 percent to $2.00 it or $2170000000.00 for the 3rd quarter of this year. and on that note the global banking industry is seeing a bit of a shake up from mergers to restructuring some banks say they're even shifting their focus to asia r.t. correspondent atocha sweet has more from los angeles the industry is evolving and as more people bank online more visible branches are closing but it's not the only change we're seeing some banks like sun trust and b.b. and t. are merging and causing even more ships in the markets she copes in changes are bracing the financial markets sun trust has comp

joining mike and i on set is michael, morgan stanley c.i.o.comes, "star wars" or bond markets, your choice. i'm interested in the single thing. what is it sending? michael: we had a bond rally across the board, treasuries investment grade credit, high yields, emerging markets. everything rallied and in some cases double digits and having a bit of a pullback in the sense a lot of the news which drove this in september where we had the fed delivering a third-rate cut and negative dynamics coming through trade negotiations and status of trade war and they hit 150 in that neighborhood and probably too low. the maximum optimism we thought the fed would deliver but now it's back up to these yield level getting to the inflection point where the top of the range we've been in for a long time and either we hold here because it's business as usual, g.d.p. growth is 2% and inflation is stable or is growth going to accelerate in terms of higher yields next year? it's possible. the story i've had the past several years, beware, excessive opt miss imor spea

i'm really excited to be part of the morgan stanley team. i'm justin rose. we are morgan stanley. we believe in education built for all people., - [woman] snhu was the best experience of my life. - [man] without snhu, i wouldn't be the leader i am today. - [woman] i graduated high school 19 years ago. i still finished. - [man] in the military, you feel that sense of accomplishment. that's what snhu is. - you will march from this arena and say to the world.. i did it. - [woman] you did it. i love you. - [graduate] i love you too. >>> welcome back to close bell time to get word on street goldman sachs adding nike to their conviction buy list. firm please nike is on the cusp of acceleration and china is a cree driver of that growth meantime stifel is up on alphabet >> morgan stanley downgrading etsy the business model, and anticipates slowing growth morgan stanley notes the holiday calendar poses another risk for the fourth quarter because a lot of those items on etsy are handmade and take longer to ship out. >> you're going to miss the delivery deadline. the n

i'm really excited to be part of the morgan stanley team. i'm justin rose. stanley. >>> the revulsion to these high multiple high growth companies continues tonight with soon nvidia reporting a good number and reporting a not that great number and the stock just being annihilated. in the meantime, i want to caution you, i like servicenow with bill mcdermott. you heard him speak earlier. and that is the kind of stock that is going to keep going down with these others, but you got to buy into it, because mcdermott is going to make that company go to the very next level. i said that because i watched this guy's career all my life. i like to say there is always a bull market somewhere. i promise to try to find it for you right here on "mad money." i'm jim cramer, and i will see you tomorrow >> welcome to the shark tank, where entrepreneurs seeking an investment will face these sharks. if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪ with a new twist on a wedding tradition. hi. my name is kimberly a

morgan stanley is slashing 2% of its global workforce.will cut 1500 jobs including several senior roles. promoted 56 of its investment bankers to the role of managing director. deutsche bank's ceo told me he is upbeat about the lender's progress despite possible headwinds. think we have taking a conservative outlook on the interest rates, therefore in this regard, we have changed our underlying planning. have lower for longer, that is part of our overall plan so we have prepared for that and need to adjust our business model and we started to do that in july. oft: alan higgins, the cio coutts, our guest host for the hour. didn't see that shocked we would be in negative interest rates for five or 10 years. how do you think his bank is coping with it? alan: you don't want to knock a bank when it is down, but it has been a troubled situation. you have to look at the equity performance. for us, we have been in financial debt -- not for the fainthearted, because you can lose everything if the bank goes bust. you've been overcompensated for the

i'm really excited to be part of the morgan stanley team. i'm justin rose.e are morgan stanley. >>> we're live again today at one market in san francisco. dick costolo, adam bain and roelof botha continue the conversation with us let's talk about the food delivery space y is kwoi kra is ia is in door d there's been a lot of discussion about what the future of that space holds. postmates. are they going to go public next year grubhub hasn't done well can all of these companies survive on their own or does there need to be some consolidation in the future? >> i think there's room for multiple winners in this space it's incredible when you think about the emergence of this category of food delivery. it's a market that didn't really exist five years ago and here we are with more companies doing really well. >> i didn't even mention uber eats >> it is a very early stage company. the founder tony is a phenomenal operator and talking about the focus on unit economics, part of the conversation, one of the things tony did was focus on unit economics. first atly deliv

growth expected to rebound on production but when is an open question morgan stanley writing in a piece of steel production in q220 we would expect to see more than a 100 points boeing saying it won't lay off any of the 12,000 workers who built the 737 but as the stoppage grinds on, boeing could see that >> thank you very much let's talk about what this means for boeing and the industry more broadly. >> how long will this damage be a wageight on boeing's share price? >> we have a target price that's 420. i think what you'll see in a lot of 2020 and 2021 estimates is they are working off inventory we have 384 aircraft that's grounded and 400 that are built through december >> 420 is your price target on this you think it will get there by this time next year in. >> i think so. it will be pref -- prevalent back there >> they will look at every single one of these claims the ones that are in for moth balls and all the planes that are in service >> the ones you want to focus on are built but not yet delivered. what the faa said was in the past they would have designated authorization events

we incorrectly said citadel securities trading revenue was above morgan stanley's.ually, morgan stanley's trading net revenue was $13.8 billion, well above citadels $3.5 billion. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm courtney donohoe. this is bloomberg. vonnie: thank you very much. credit suisse has cut its main profit ability target for this year and next. negative rates clouding the outlook for switzerland's second largest bank. meantime, a little further south in greece, things are looking up. greece rolling out a plan to drastically reduce the bad loans burdening its banks, and we are seeing results already. joining us now is christos , ceo of piraeus bank. this was a program submitted department yesterday, voted upon today. it is going to help you and the other systemically important banks in greece get rid of some of your bad loans. not all, the. what happens to the other party $7 billion in bad loans? is a game changer for the market and for the gree