with earnings from gap and nordstrom.e dive into the numbers and look for the winners and losers in the space. >>> and then we explore the universe of under the radar software companies to find out how the options market is betting on ve. va systems those stories and more when those stories and more when "fast money" returnslky hair, gn and healthy nail nature's bounty, because you're better off healthy. wow! giving one. how did you guys...? >>don't ask. the lexus december to rembember sales event get 0 percent apr for 60 months on all 2019 models. experience amazing at your lexus dealer. 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. doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in store

there are three of these nordstrom locations in los angeles and two in new york. >> for new yorkers, having a cation that's on theiray home from work right by eir train station, that's really convdient. it's h to get stuff delivered to a lot of places around here. returns is another big opportunity wi. know we're going to take returns. we're in the clothing business. >> order in stroms says customers who use nordstrom spend 2 1/2 times more. >> the you can get services done here, you can get here. rapped and what it does is really speed up the process in terms of returning goods, which helps a lot with inventory. it aoen abl enables you to tap whole network of inventory. >> as we've seen with nordstrom stores like this one and wh brick and mortar locations for other wretailers,re seeing retailers take advantage of the fact thateal estate prices have dropped while the cost ofg acquirin consumers online has risen. this store epitomized what's called the clicks to bricks trend. the beauty brand which launched on insam in 201 now has about 2 1/2 million instagram followers. has permanent

i think you could look at a name like nordstrom here. conference call. maybe that's the name. scott, rob, you guys are the best. i appreciate it. >>> all right, the dow is up near the highs of the session, up over 100 points. into the most exciting hour of trading. liz claman, over to you. liz: happy friday. we are about to check e-cigarette stocks because the meeting at the white house has just ended and let the scare tactics begin. here's the breaking news. a massive debate over the safety of e-cigarettes and vaping continuing, just ending at this hour. right now, we are learning that one e-cigarette company told the president a flavor ban would lead to 100,000 lost jobs. at this hour, has the president bought that? he just finished meeting with the executives of juul, altria, rj reynolds along with the campaign for tobacco-free kids and the american lung association, among others. and also just hitting the wires,

. >> reporter: nordstrom in new york city is focused on providing services you can't get in front of a computer part of the in-store experience at this nordstrom, having food delivered to you while you shop and for the nonshoppers in your house, a martini bar to wait it out >> nordstrom is like my second home >> i'm going to shop after i get beautified. >> reporter: in los angeles, casper mattress allows people to take naps on the merchandise. >> something that you use every day for sleep, i thought we'd come to this store and to actually try it out. >> reporter: at levi's, shoppers can customize their jeans on-site. >> did you want it this size or bigger? >> reporter: and in chicago, lululemon has yoga classes and meditation rooms. >> i love being able to come in and do more than just shop >> reporter: from inner peace to beauty and cocktails, stores finding innovative ways to keep customers coming back. vicky nguyen, nbc news, new york >>> still ahead as we continue tonight, why an nfl star had to leave the field, and what he says about his long personal struggle >>> a philadelphia

nordstrom was fabulous the numbers were terrific.ut the problem was the numbers were awful and it was bad can i get away with that or will someone send me an email saying that's not -- that's not right >> not a lot of direction. not a lot of direction at this point in terms of trying to understand where -- >> i know there is not a lot of respect between navarro and china. mnuchin, tremendous respect. remember, i keep telling you, this is the apprentice these are the -- this is the final episode. and one of these guys is going to go down the elevator and get in a yellow cab. and i think it is not going to be the navarro camp. i think it is the other camp they're headed down the elevator unless we use that memetaphor, people don't understand the president. >> are you specifically calling for either mnuchin or predicting mnuchin or lighthizer's resignation? >> no, i think mnuchin likes his job too much he can be sent down the elevator and not get a china deal navarro is adamant, you got to solve the seven deadly sins which include stopp

connell: that is big move for nordstrom. melissa. does it say about the state of the consumer. jack hough is back. they say gap is future, old navy is the store they're building out, that is where it is at, that is down 4%. look at strength in nordstrom's. >> gap you remember issued terrible guidance earlier in the month. they beat themselves up to begin with. they exceeded the lowered expectations. nordstrom's seems to be coping niecely. your question what it means for the consumer? this is important. what investors see across retail this year, next year, they will see thousands of stores close. entire chains they have known their whole lives fold. they're seeing that already. people must think it must be a terrible environment for consumer spending. not at all the consumer spending is quite good right now. this is simple problem. far too many stores in america. far too much selling space. some of the chains haven't adjusted to present day realities. there will be a real separation. you saw a big jump in target. target is a perfect

>> absolutely help we have a product business, nordstrom, nordstrom rack. 280 rack stores and they are some of the most productive stores we have the way i think about it is, a customer who walks into one of our rack stores and has a great experience and walks out with a smile on their face and a bag in their hand, the value of our business went up the better job we do of giving people a great experience, no matter which format, channel, off price, full price, no matter how they want to shop, if we do a good job for them, the brand nordstrom just went up and we will get more business them. >> they have been reluctant to pull holiday sales forward you're closed on thanksgiving and you hold off on decorating you've also set the gifts a little earlier why are you changing that? is it helping drive those sales earlier? >> we've always felt that it's important to celebrate one holiday at a time. we traditionally have not decorated our stores until after thanksgiving we realize that customers start shopping for gifts earlier than that this year much more than in

a lot of retail names bad, but nordstrom bucking the trend.ne: another key department store out there, shares may be falling after his chain cut its profit outlook. ceo telling investors the company is locked and loaded for the fourth quarter. sera fromg in washington. i have read through this press release, listen to the conference call. one thing that stood out was this idea that some underperformance might be related to location. they are not doing all that well. they did mention lower tier malls were a drag. that is important because it calls into question a major strategy of macy's, which is that it wants to keep open these stores. this raises the question of whether that is a good idea. considering ao be more aggressive store closure program. these results bring that to the four. joe: some of these big unicorns that went public, people get very interested in marginal unit cost. i wonder if we have to sort of do the same analysis with a company like macy's where it is trying to figure out which aspects of business are still profitable and

a tough retail market though the founders grandson and co-founder eric nordstrom told bloomberg that their strategy remains to be customer service lord and taylor's flagship store in new york closed at stores while henry bundles 5th avenue historic store shut down earlier this year this was after 123 years and business but eric nordstrom said building a new physical store gives us advantages we have technology built into the store why 5 self-service connectivity so customers can be on their phones a lot of product discovery for what we sell fashion begins online and what we know of that over half of our store sales involve a visit to our website usually on somebody's phone now adding that it's all about engagement and the experience new york 5 ships or even allows for customers to order food get this order food while shopping and is then delivered on a nice plate how do you feel about shopping while eating an ice plate i mean if i'm buying a nice way sure maybe i don't want to have a plate or ribs or chicken wings or maybe spaghetti and meatballs that might be ridiculous but i do fin

we've got more earnings this time from nordstrom.ney regan has those numbers as well. >> reporter: so for the nordstrom quarter really big beat on the bottom line putting up 81 cents per share. the street was looking for that to come in at 61 cents revenues in line we don't have comps in this release but we can tell the breakdown of the nest sales. full price business, the department store business, those sales were down 4.1% the net sales for the off price business of up 1.2%. online sales grew 7% that's a relatively small number compared to other retailers because their online business is already 34% of their total sales. when you look at their earnings guidance they give a small increase in the full year earnings guidance but it's interesting because we had this big beat this time on the bottom line they did 85,000 visits on the first weekend. gross margin 34.3% shares of nordstrom are higher by 6% after hours. >>> thanks so much for that. mike, nice beat. >> it looks like definitely a relief trade which does make, i think some se

jason: staying with regional, a timely can -- conversation you had with the ceo of nordstrom.has a lot on his plate. inol: after 118 years business, it just opened its first store in new york city. find this story in the magazine. carol: customers are more empowered and less willing to compromise any of their experience than ever before. in our industry, we talk about on the channel --omni channel. i talk to customers every day. i never have a customer use the word channel. they just want great experiences. ae reality is, if you are at definition of channel, the categories we sell are bought and stores. much more accurate is people are and they are in physical locations and they wanted when they wanted. they wanted on their terms. carol: people think how will nordstrom be different than the troubles than lord and taylor fell into? how would be different for you? store aarted as a shoe hundred years ago. i grew up selling shoes. you are literally on your hands and knees in front of the customer trying to take care of them. metaphor for how we try to run the business. the custom

the department store index in shares of nordstrom. earnings missing and cutting its quarterly profit forecast. that said the s&p 500 department store index on its worst day since january 17. on thursday, macy's also credits profit forecast for the full year. third quarter comp sales tema 3.9 percent lower than this time a year earlier. signs of weakness. nordstrom reporting on friday it be done quarterly sales and profit and analysts are saying this is a sigh of relief. it is said this is a wait-and-see moment for the stock, but they did say this is a sigh of relief. wedbush said this was an impressive start for the quarter. cowen raising the price target for the stock. while it is a mixed bag of retailers, it might be showing the business coming down to individual execution with nordstrom outperforming. you can find this chart by running gtv on your terminal. dry, itnday -- romaine: is monday. -- guy, it is monday. i hope you brought your a game. guy: i always have my a game. resistance is futile when it comes to bitcoin. i want

losers they are giving them a fast and easy way of shopping the value is the focus we are seeing nordstromeat expectations because they have the rack that did very well offering the consumers the value proposition. ross, tj maxx, target and walmart. the value proposition is so important. >> i've been trying to weave together a theme home depot diving after earnings but lowes hitting record highs then the luxury side of things rh, yes, some warren buffett involved in that it is not necessarily one thing. not one part of the income spectrum or the price at all what can investors do with that? >> i think it is important to dig deeper into the data you mentioned home depot target, this week, they knocked it out of the park and stocks surged this has not always been the case target vest target invested a lot of money same with home depot they posted a growth from a year ago. they are now investing, the stock took a hit what we are seeing also is omni channel is a necessary evil. it is a big investment home depot saw 22% growth on line and 50% of that growth is derived from consumers ordering on

nordstrom also raisedda ge.itially rose following the ns closing the regular session up 1% to 34.32. william sonoma reported after the bell. the parapet company of pottery barn and west e had sales come in slightly above estimates while profits in line with forecasts. the retailer saw increase in same store sales and raised the lower end of the full-carrier outlack. shares fell in after hoursft trading closing the regular session up a fraction to 68.75. >>> and finally roth stores topped analyst expectations. there was a speak in retail sales and rsed the full-ier outlook. shares rose after hours. closing the regular session up more than 1% to 111.79. >> back to the stop story tonight, that charl haub is reportedly in talks to buy td ameritrade in a deal creating a massive brorage and asset management company. what wouldhe deal mean to either of the companies?s with and what happens when your broker is gobbled up by anoer company? we join now reedra to get some answers welcome back. >> good to see you, bill, sue

gap and jw nordstrom facing different things >> it feels more skeptical and not. the old navy business isn't performing and isn't adjusting as they would have liked. i have not been there. >> it opened october 24th so the quarter ended october 31st you only have a week under your belt it's expected to generate 100 basis points to sales growth i think overall a tough go in the third quarter for nordstrom too. full line and off price was weak for in ordnordstrom. >> you like the new store? >> i like the new store. i like the new store it has more new innovations than you've had in other stores manhattan, come pepetitive mark. >> great to see you. >>> president trump kpped to sign a bill protecting human rights in hong kong. the house and the senate passed the bill it's increasing tensions between china and the u.s. not good for trade talks >> wchina does want a phase one trade deal but where whethey wo out core issues. the wall street journal is reporting china's chief goer negotiator has invited hi counter parts for a round of trade negotiations before thanksgiving

both nordstrom rack and cosco's website experiencing some issues. last night and early this morning shoppers friendly frantically try to take advantage of all those early deals, nordstrom rack site, now back up and running again, but cosco's website warns of slow response times. >>> the tenderloin neighborhood served up a hot dinner for more than 2000 people in need today. jackie ward introduces us to some of the volunteers who made it a success. >> reporter: if it weren't for the people in this room pulling off a turkey and ham dinner with all the fixings, it would be impossible. but feeding people is a year- round effort. sean johnson says waking up before dawn to cut hundreds of pounds of vegetables is a longtime tradition for him. >> is about 15 years, my dad started bringing me down when i was in sixth grade i believe. it's been a great way to start the holiday off. >> reporter: is one of 500 volunteers carving, chopping, and serving up a hot thanksgiving feast to about 2000 people. also here to help, lund mayor london breed and the fire chief.

wild week for retail shares of nordstroms rising. raised its earnings forecast for the full year. looking at that stock up close to 8%. williams sonoma said sales fell dropping 2% versus the 1% expected earnings were in line with estimates. it is really a tail -- really an operations situation more than an economic or trend story we are watching shares of the gap. worse than analysts expected the company says it is committed to a plan to spin off old navy and continues to search for a new ceo. more on the wild week for retail coming up at the bottom of the hour we'll talk to the retail guru to try and make sense of all of this >> coming up, the video we can't stop watching. the tesla pickup truck unveil that went horribly wrong those windows are supposed to be unbreakable. we have more next. obvious. sometimes, they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪ ♪ i can shine. ♪ i'mma do what i'm made to do. ♪ built for excellenc

jason: staying with retail, you had a conversation with the ceo of nordstrom.lot on his plate. carol: it is a big year for them. after 118 years in business, it just opened its first store in new york city. you can find this story in the magazine. >> customers are more empowered than ever before and less willing to compromise any of their experience. in our industry, we talk about omni channel. i talk to customers every day. i never have a customer use the word channel. it is not how they think. they just want great experiences. the reality is, if you are at a definition of channel, the categories we sell are bought in stores. much more accurately is people are on their phones and they are in physical locations and they want it when they want it. they wanted on their terms. carol: people think how will nordstrom be different than the troubles than lord and taylor fell into? i'm not saying you guys are apples to apples. how would be different for you? >> we started as a shoe store a hundred years ago. i grew up selling shoes. one of the things about selling shoe

if you want to play the stocks, i think in the next thursday a name like nordstroms which had great trading ranges over the last couple of years, yes it's bounced off the low but you have a huge short interest, reasonable valuation and we find ourselves time and time again in in environment these big short interest retailers tend to do well into earnings imprisoning that's the way to play it. >> it feels we're in an interesting spot in terms of the earnings season for the retailers. we dope know if the tariffs on december 15th go into effect the guidance isn't going to be the guidance we would hope if they nounsed officially december 15th is off the table. >> i think it's difficult to do that analysis in this environment. the best you can do is what guy is talking about and you look at sentiment. university of michigan sentiment today was decent held up. that tend to be somewhat of a leading indicator. does turn with a little bit of head of the stock market if we get a stock market tailwind into the holidays with consumers already feeling well, then i think they should hold up well that bei

romaine: coming up later today, i will be speaking with jamie nordstrom, nordstrom's president .f storesabout the changing retail space on how his company is preparing for the shorter holiday shopping season. we will have that interview at 2:30 in new york, 7:30 p.m. in london, so get home in time for that. stay with us. more in the show. this is bloomberg. ♪ ♪ guy: from london, i'm guy johnson. romaine: from new york, i'm romaine bostick. this is "bloomberg markets." time now for our futures in focus segment. joining us is the chief market strategist over at the fox group. let's start with oil today. it has sorta been making a pretty decent move since they hit those recent lows we saw back at the end of september. but then when you look at it on a chart, it is still in a relatively tight range for most of the year. what gets it higher, if at all? scott: we have been in a tight range, and that is definitely confirmed if you look at the options. the open interest on the 60 line continues to build, as well as on the $55 puts. it's been in that tight range for quite some time. i think what

this is the new nordstrom store. >> exactly. you are seeing department stores really ramp up on the aspirational brands they have. that's what's going to carry stores like nordstrom, stores like even macy's into the next quarter, into positive retail sales. liz: can i just make a quick mention about champion? my 15-year-old suddenly started wearing champion. i said you mean the yoga pants i buy at target? champion's hot now. >> they are doing a lot of different collaborations. liz: when you go on black friday, for people who don't know hitha, she's crazy. at midnight, this woman will actually hit the stores to do her research. where will you be going first? we can show you from years past, what we posted on twitter. it's hilarious. >> as soon as dinner is finished, i get in my car, i head out to the target and the walmart in paramus. i don't know if you can see some of the pictures here. liz: your husband, seth. >> my husband. that's really funny. so what i like to do is see how many people are standing in line, if there are any

you look at something like a nordstrom versus a macy's. ms. ds can't get it together but nordstroms seems to find its which. dillard was too, kohl's the opposite it's not the consumer. dollar tree has other issues it's labor but i think there are winners and losers and i mean best buy is fascinating to me. this was left for dead for so many reasons amazon being one, consumer being another. a new ceo seems to do a great job. really impressive. the pe multiple here for best buy is it's not crazy expensive. >> but for it's zblef but for itself it's getting rich. >> i want to make one point about that because you said they got it right still 25sfers pr the all the all-time highs in 2016 it's down. it did have the massive update today. the multiple getting rich to the history with no growth in sight. s in a local single digit grower for life when you think about the main story here about retail and one of the reasons why amazon is stuck in the mud and see amazon has caused everybody to deliver what you think you want yesterday. right? and that cost

target, best buy and department stores too, macy's and kohl's and a number of other specialty brands nordstromthat's one of those retailers that still remains closed on thanksgiving similar to last year, many retailers offer those black friday preview sales, which did likely pull some level of sales forward. still, this weekend is very critical for the sector. analysis of our update for cnbc shows that in 2017, thanksgiving sales made up about 15% of retailers holiday sales. last year it fell to about 13%, this year about 12% and alex partners believes that's both due to earlier sales and six fewer days between thanksgiving and christmas. now, npd says last year shoppers bought an average of 5.5 items in store and 3.6 items online. so lots of folks are using both of those channels to shop. we got some early data from adobe. you gave us some big numbers, here are some of the top sellers. in toys, we got frozen 2, lol surprise, paw patrol gaming, madden nfl 20, nba 2k20 and nintendo switch. electronics, amazon fire tv, google chromecast and air fryers, insta pot for so long was the item, now we

talk it sold and bought it we have a $1000.00 or so but you know more than half the movie described nordstrom did you go into i getting an office. or interviews on. this fights and. you know it's. so. that's right i'm talking on a dime trying to justify what new under the i'm an operation for. he did it over know how vital it making its mission is to invest. are going to r.p. vita diesels in such a new. associated press magazine only to see that i'm going to begin. by saying you didn't. want to be done looking for offers in the belly button for me yet. 30 years after the fall of the berlin wall on t.w. . it was the night everything changed. the night every day people made history. tonight a divided country came together. it was the night the fault of the wall. next on g.w. . kickoff life. years ago to mark the beginning of difficult times for east german soccer team today none of the teams from the former east german top division played in the bundesliga play is that we ask a player from the east in the last. 60 minutes on d w. syrian born imam visits a local bar in berlin. he lives just oppo

the movies by the nordstrom in uganda who are getting enough of us to watch widen or neponset or interviews all. sorts of damage. from the other nobody knows. so next enough. that's right i'm talking on a dumbed down the new i'm going to him an operation for. he didn't know how vital it is making it such an almost invisible and. i'm going to r.p. vibe to these insults who know it's only. me for bye bye to deal with associated press version only prudent let me begin. by saying if you didn't. want to be done looking for lost as in the belly button for me and. years after the fall of the berlin wall. t.w. . to france dear antonio there's a scene here that when your mother was born in 1969 the wall was already 8 years old my grandchildren were born after the wall fell born in a dream unified germany 3 generations one family on a journey through recent german history. the berlin wall our family and us 15 d.w. . i think is everything challenging 1st on how to make a muslim. school much different culture between here and there challenging for empathy. to some business i think it was worth it for m

nordstrom proving it to the haters. some of those declines have been reversed.9% in today's trade. jm smucker is up 5%. on the negative side, a couple needs stocks, it something new for the holiday season. you have some of the oil companies lower. former u.k. chancellor sat down with francine lacqua in beijing. she asked him some questions. anybody who went through the 2017 general election where what was predicted and what happened was very different. looks like theit conservatives will be the biggest party and polling suggests boris johnson will have a majority to form a government. the bigger the majority, the more authority the prime minister will have. that means the more he will be able to use flexibility to operate in the way he thinks is in the best interest of the country. personally, i hope he would use that authority to deliver brexit and do it quickly. i think that is on everyone's agenda. and then to ensure we adjust the time, energy and effort needed to get the best possible trade deal with the european union so we have a good, solid relationship g

the news sent nordstrom and macy's -- not even just kohl's -- down as well for the sale rack.y's getting further socked by reports of a data breach last month. nordstrom down 6.25, macy's down 10.5%. >>> home retailers taking a hit as well after home depot cut its full-year forecast and outlook, the second time this year. intraday it's an ugly picture, but even compared to the day before, it's even worse here. the stock is down about 5% at the moment, and lowe's is also getting hit, that one down one and two-thirds percent. it reports, by the way, for lowe's tomorrow. yesterday right before the bell remember i showed you the amc entertainment stock plunging 6%? today it's pretty much gained all of that back. right now the stock is flat, but the justice department -- took awhile for this news to shake out and hit the wires, but justice department apparently has made a move to throw out the so-called paramount decrees. that's a 70-year-old decree that prohibited film studios from owning theaters. the end of this antitrust order could allow studios to buy movie theaters across th

you look at nordstrom, nordstrom people got excited about that, but they still have big issues they'remselves their same-store sales were still down, which to me is always very telling. you have negative same-store sales, even if this area is looking good or not, you've got to be very cautious. even a name like footlocker. you know, footlocker, they really depend on the right merchandise selection, plus, they have another issue, where their core market, which is the youngsters, 15 to 24, who are now switching to buying more online, directly from their brands and they've had some of the big brands so every, you know, there's very different stories for a lot of the retail, so it's been hard to generalize, you know, and some of the winners have started five years ago making the transition to multi-channel and some are just getting started. they may yet get there >> and a huge gulf between how the market wants to value the acclaimed winners, the ones that have figured it out and the big box, and the ones that can withstand any environment and footlocker if you're in the mall, the stock is

nordstrom all lower. at to a clock p.m. eastern, we get the fomc -- at 2:00 p.m.astern, we get the fomc minutes as well. guy: stocks in europe a little softer than they are in the united states, which is interesting. the trade story certainly front and center for most people. we are also watching what's happening with the hound -- with the pound. dropped first thing this morning, still north of $1.29. a little bit of a bid for the bond market. we are moving, as you can see, down by two basis points on the german ten-year. prices rising just a touch. we are now joined by viktor hjort, bnp paribas global head of credit strategy and desks analyst. good afternoon. credit markets and equity markets seem to be taking a different view about what is happening when it comes to the trade narrative. credit markets, particularly when it comes to primary issuance, continued for k very optimistic view of the world. why does credit stand out as having a much better view of what is happening? viktor: i think credit is supported by central-bank factors much more so than any other

you just saw the nordstrom chart. bill: let's go back to nordstrom. alix: solid earnings.remarket. first resistance you want to look for is around 38. if you can get above there, then you can see this zone in here, which is basically around 44 to 49. that would be your next resistance level. alix: your last stock is ge. bill: it is interesting because they hit a new 52 week high. the stock has been somewhat left for dead, up 50% from the august lows. we had a bit of a breakout in october of this month. 11:30 is now support on the stock -- 1130 is now support on the stock. retracement around 1236. alix: thanks a lot. bill maloney of bloomberg. that does it for bloomberg daybreak: americas. peter jp on "the open" keeney will be joining him. we are getting potentially positive trade lines from president trump. s&p futures only a .2%. 3111 is where we sit. happy friday. this is bloomberg. ♪ jonathan: from new york city for our audience worldwide. i'm jonathan ferro. "the countdown to the open" starts right now. ♪ jonathan: coming up, and administration on repeat. the trade dea

that is dragging down other to partner stores nordstrom and macy's.ome depot also out with disappointing earnings this morning. that stock down by the better part of 5% after comp sales missed for the third quarter in a row, and they cut their guidance for the third time this year. . the one bright spot in retail is t.j. maxx, now up about 0.9%. solid third-quarter report for them. in the movie theater space, a report that the department of justice is looking to roll back rules that say movie studios can't buy theaters. that could see deals heat up in that space. amc, cineplex, and imax all higher. vonnie: coming up, chipmaker challenge. we hear from the ceo of qualcomm. that is coming up next. this is bloomberg. ♪ vonnie: live from new york, on vonnie quinn. guy: from london, i'm guy johnson. this is the european close on "bloomberg markets." let's check in oncourtney: the e committee is quite stunning -- is questioning two witnesses. the u.s. walked out of military talks with south korea today. seoul said president trump's demands that it pay five t

been completed early this year the law wouldn't apply it won't be finished until 2020 though so is nordstrom too over germany wants to prevent that the both the pipeline will supply it with 55000000000 cubic meters of natural gas from russia each year that's needed to guarantee german electricity supplies once coal and nuclear energy have been phased out so the government here once its own new law it states the german end of the pipeline has already been completed it merely needs connecting to the undersea stretch for berlin the pipeline as such was completed before the deadline so it doesn't fall under the new e.u. restrictions does that mean the multi-billion euro nord stream to project can be saved berlin might not get away with that as easily as it imagines. let's bring in detail the s.k. brady for more on that case 1st of all the german born this time wanted to discuss the issue last night and hopefully result it didn't what happened. exactly so the sitting last night was actually pretty much surely brought to an end and that was due to an object sion from the far right a f d in parliam

know foreclosing and there are good deals for the 25, 35% off the entire site but you can get on nordstrom'sthis is a great time to buy gifts. >> smart home devices? >> yes, you're going to see cyber monday, they are extending all the way out. next nest, alexa, still good. >> tell me the things not to buy. choice? >> if you want a hot holiday toy, you should have bought it a while ago. they are discounted closer to the holiday speak because they don't want them sitting on the shelves in january. >> furniture, don't buy that but tell me about tb. you see your busters. >> traditionally black friday has been the tv day. might see tv deals but they are not generally as good as black friday. >> great ideas. you can read more about financially savvy gifts online and don't forget to follow us on twitter. that's all for this special edition, see you next week.

i'm going to put up nordstrom on the screen for a moment.eir sales going into the holidays and the stock is up 8%. is the consumer as strong as i think the consumer is? >> the consumer is strong and the consumer numbers, the spending numbers are the poll that matters in this country. if you want to know how people are feeling, how optimistic they are, look at where they're shopping, how much they're shopping. these numbers are good, it's keeping the economy going and it's the kind of number that will matter, especially if we get something like the usmca passed. if we can get something like that done, think about the acceleration on the back of these consumer numbers. it would be bigger than anybody's talking about right now. stuart: in the early part of next year, we could get another leg up for the strength of the consumer because of, what, usmca might get passed? >> think about the thing that's holding back the economy right now is the uncertainty around some of these big trade deals and i think usmca is actually a bigger deal than the chi

nordstrom. another department store that's generally perceived to be off their game their new store in new york city is a symbol of everything investors have rebelled against. a big brick-and-mortar institution with high prices, no real place to park and bulls out there please be careful on thursday. you know what happens? this loretta mester, the president of the cleveland fed she will be speaking she's a one woman bull market wrecking crew. she's amazing. a little over a year ago this woman talked about accelerating economy right about when we were about to crash said the fed needed to tighten aggressively, loosen aggressively it was an appalling performance that contributed to the market's horrendous quarter meltdown. i won't be surprised she does the same thing this time what can i say she's a downer friday we take the pulse of the food stocks with smucker smucker has been bad they got these categories pet food and coffee. they are a little competitive. i think the stock can bottom at a cert

when you get exaggerated most of the upside the only reason i'm in there i don't think they and nordstrom and some of the other names have made too many mistakes they're too far behind and have got to figure out what they're doing in terms of who is their audience these days. that's the problem scott. they don't understand their own audience in my opinion especially with the changing world that we're in where not everybody has to wear a sport coat and tie every single day to work, jiet that's something that they have not grasped their arms around, i don't think, whether it's nordstrom's or macy's or any other high-end retailers. >> tjx is the thing. that's what i think of when we see macy's and kohl's. tjx has taken the business away from them. macy's has tried to re-create themselves they've done a lot of things but you can argue they haven't done the right things in terms of recreating some form of a strategy, so macy's where it sits right now the real value is in the real estate it hold, herald square. >> long story. that's been around forever. >> real estate play like kmart was. >> ma

so what do they need to do macy's, gap and nordstrom? what should we be looking for this afternoon >> what they needed to do was just put up the numbers against low expectations the stock is down only a percent at last check because of low expectations with the gap, we know the numbers. we know the company gave their comp that forecast or expectations for the quarter they're negative they've lowered their outlook for the quarter. not good the stock has taken it op the chin as well with gap tonight, what we want to know is is the company going to continue to split or spin off old navy that's going to be a big deal and actually, we put out a note with the pre announcement with ceo leave iing, that we think t a split may not be a good thing anymore. it may not because old navy comps turned negative and when they announced the split, they were doing fairly well and with the comps turning negative, it may not make sense anymore, so any clarity on or nonspin would be probably a good thing for the stock at this point. >> big deals coming up tha

helped by s&p rally nordstrom. it is enjoy one of its best sessions in three months time. stock andment store's general getting a sigh of relief after coming out with better-than-expected profit and sales in its latest quarter. earlier this week, we talked about the challenges for the likes of kohl'safter coming outh and macy's, and interesting to watch, digital performance outpacing expectations. we will be watching retelling names next week as well. keeping andrtainly i on u.s. china trade tensions. president trump and president xi seemingly talking past each other as they both push for a phase one trade deal. and i on u.s. china trade tensions. president trump and presidentrey as a guiding principle in the deal, while president trump says he does not like that word as it pertains to the trade deal. in the meantime, the fcc is prohibiting the use of buying telik occasions agreement built zte.awei and let's get the latest now from peter coy. just this week, you wrote an extensive story about market sentiment. it seems like so much of that market sentiment is driven by som

gap,ding macy's, nordstrom, and on and on. >> of course they would bear the consequences of a lack of truce between china and the u.s.. ,e are looking these markets something we haven't seen over the past month and may be it's been a perfect storm of these record high equity markets and complacency when it comes to volatility positioning. take a look at bets being made on volatility futures. there is a net short they have ever been on record so perhaps this is causing people to very quickly adjust these positions, perhaps rethinking volatility has gone into a long hibernation for the winter. stocks are headed for the biggest loss in more than a month after reports that washington and beijing are unlikely to reach a trade deal this year. here for a look at what's this assetswe have our cross reporter from bloomberg news joining us. not to blame you personally, but you were asking this very morning are we at a top for these markets and here we are, it doesn't take much in terms of trade headlines to print the confidence of these up -- trick the confidence of these equity goals. >> if yo

i did go to the new nordstroms in new york, busy. the shoe department was really crowded. had to get some stuff for my husband we discussed it was a crisis a fashion crisis long standing thing. >> you guys were talking about the ones we know have problems amazon is interesting here it's massively underperformed the maga complex, microsoft, apple and google amazon's 13% from highs, look at that chart, the up trend, that really feels to me that it really wants to test that up trend as opposed to those prior highs which are about equi distance back to the comment about alibaba, why has amazon stalled out here one-day shipping, the costs associated with it and the logistics thing and i think this has become increasingly difficult as consumers expect to have the stuff yesterday and told to them what they want when they don't even know they want it. >> amazon's stalled a bit because bezos is not earning money, he's spending right now what's the reason you have to be in the stock i do think macy's, though, is an interesting trade. i know we talked about it last week but it sets u

. >> i noticed macy's and nordstrom, the mall-based retailers in particular are the ones they take it out on neither one reported a number. i think we hear from macy's soon but they were down 6% today. you look at the mall, look at kohl's macy's has to be near the new low. >> macy's is over 10% yield kind of extraordinary considering -- i mean 10% yield and the debt doesn't trade like it's in distress at all. there is some giant discounting. >> did you see terrie lund green the former ceo of nordstroms when he left there he was loaded up long macy's he but he bought wal-mart, costco and target. >> he said he did have enough macy. >> >> speaking of wrrmt and sticking with retail we heard from one of the world's biggest retailers. wal-mart ceo doug mcmillon is a said not everything is moving 00% online check out what he told the panel at the evolve event. >> i'm really confident they want stores because we see the evidence of that but a few years ago there were a lot of voices inside the company questioning everything and so we didn't go into it saying our purpose in life to prove that