no, i do not think— nymex has been working? no, i do not think so _ nymex has been working?o not think so because if - nymex has been working? no, i do not think so because if you i do not think so because if you look at the labour market, there is low unemployment by there is low unemployment by the number of people is about 100,000 - 200,000, that is nothing compared to the hundred 60 million or so people in the labour market and they are basically experiencing lower standards of living so it is great we have more people in the labour market but the vast majority of them were there before and if their standard of living has decreased as the way economist think of this, the price of labour, wages, have gone down and if that is the troublesome aspect, which was very different during the pre— pandemic trumpet years when we had large growth, particularly and of the lower income distribution in the us. that situation — distribution in the us. that situation with _ distribution in the us. that situation with the - distribution in the us. that situation with the wages i distribut

the surface you aren't seeing much trading but pay attention to the spread between brent crude and nymexwhen you see the spread wide and, this is when they pass the five dollars level. it's an average of three dollars to four dollars. when it passes the five dollars and goes into seven dollars, geopolitics is getting priced into the market because brent crude will react more than nymex. at the same time that the u.s. is actually producing more shale. get this, saudi arabia and russia in all of history. that is the thought i will leave you with pure and markets today. anna edwards, mark cudmore will walk you through the market open. they will explore the themes and what your trade should look like going into the end of the year this is bloomberg. ♪ (jennifer) the reason why golo customers have such long term success is because we focus on real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement makes losin

it is now seeing a five dollar spread with nymex crude which speaks to the geopolitics baked into the price relative to the installation of the american market. that is your cross asset story. i want to get a check on how the asian markets are faring. avril hong standing by with that story. avril: in the asia-pacific we are seeing the unwinding of fed rate cut bets. markets do not seem so sure. doubt is creeping in. the stock benchmark is falling. the hang seng leading losses 1.7% off. dragged by the chinese tech names as well as i would like to mention, biologics. i have to toss it back to you now. kriti: a lot of really interesting market dynamics. we have to get to our main story here. one of the major focuses of the cop 28 talk is the financial implications of climate change. bloomberg's head of esg speaking to john kerry in dubai. >> you said to politico yesterday the bottom line is that this cop needs to be committed to phasing out fossil fuels in the final text. saudi arabia's oil minister told bloomberg his country will not support any language around a phaseout of fossil fuel

a closer look at oil prices in the u.s., wti and nymex crude will cost you about 4% more than what itd was going on in this year and rally coming up after the break. stick with us. this is bloomberg. ♪ - [mo] if you're thinking about going back to school, this is for you. ♪ - i ended up spending less money my entire time at snhu than i did in just one year at my other university. - [juan] my time at snhu has given me more confidence. now i can go for that promotion. - if you're ready to go back to school... you can do it. southern new hampshire university has changed my life. and it can change yours too. ♪ - [announcer] visit snhu.edu. first time i connected with kim, she told me that her husband had passed. and that he took care of all of the internet connected devices in the home. i told her, “i'm here to take care of you.” connecting with kim... made me reconnect with my mom. it's very important to keep loved ones close. we know that creating memories with loved ones brings so much joy to your life. a family trip to the team usa training facility. i don't know how to thank you. i'm

apparently by the nymex are about as popular as a porch pirate.e campaign wants to hear heading into the holidays. >> it's a phrase, but nothing you want to hear. thank you. let's bring in jason chaffetz and beverly hallberg. thank you both for coming on how divided are we? this is the ap poll. electing this candidate will weaken democracy. look at the numbers. democrats about trump, 87%. and republicans about biden, 82%. that is pretty much everybody. look at the numbers, jason chaffetz. that includes pretty much everybody. when you have 87 and 82, how do you get higher than that? >> it doesn't get any higher. it is triggered on both sides. it's amazing phenomenon. the world survives, america is strong. we figure these things out. for the republicans they are looking at the democrats. they are trying to make sure donald trump isn't on the ballot. there are lawsuits trying to make sure that even if he is the republican nominee he is not on the ballot. and the consistency of the ballot. voter identification? that's a hard ask what the democrats thi

nymex guest says daily moves are ainge cords to the u.s.u look at it have inverse relationship to the market. when the u.s. dollar was strong the stock market went down. when the u.s. dollar was strong the stock market went up. i want to bring in waddle chief investment strategist david waddell. i'm with you. i know it sounds like, some people believe it is anti-american to say hey the dollar is too strong, right? but the bottom line i think the dollar has been too strong. it is pulling back but one thing it has is amazing resiliency down here. do we need it to come down even more for the rally to break out to get new highs? >> it would be nice t would unlock return opportunities offshore. u.s. investors if they invest in offshore equities they typically do it in offshore currencies. if our currency goes down the dax hit all-time high today. that is the german market. if you own it, europe is strong against the dollar, you get value of appreciation of the shares and you get value of the currencies and you mentioned this was a sort of a risk

we are at a five-month low for nymex traded oil.for brent crude as well. they won't do that in the way they have been able to do that. the unprecedented supplies outside of opec-plus, namely the u.s., are really what is weighing on the market now. crude market exports are at a near record of 6 million barrels. they are both saying we are seeing these u.s. oil exports flood the market from europe to asia impacting price there and we are looking for confirmation in the u.s. on wednesday when the government comes out with its latest statistics. opec and allies have agreed to deepen cuts next year to balance the market but the supply is the key issue. there is not only a major bearish factor but there's also a technical gauge that many traders and investors watch. it is flashing oversupply until may next year. that's the time spreads in europe. ample availability of u.s. oil along with regional suppliers are depressed visible crude prices and triggering more concerns. >> russia says opec-plus cuts can go further. putin himself is gettin

there is an argument to be made that bad nymex is going to ultimately succeed and that people will startt the economy is actually healthier than they have felt it being over the last two years, that the mists on inflation is in the rearview mirror at that point and then they start giving biden credit for managing the economy. headlines are important to voters. we will see that movement. there are indications in the survey that people have a very positive attitude towards their local economy. that is an indication to the biden people that they might be able to convince people that their local economy is doing better and the national economy is on the mend as well. jonathan: thank you. shocking to see that union support. it is not there. tom: he had no money and he won and delaware. he is living and another time and place. jonathan: coming up -- this is bloomberg. ♪ the power goes out, and we still have wifi to do our homework. and that's a good thing? great in my book. who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outage

the way back wheeverybody was sayi the economy was bad, den was pushing his five nymex bidenomics, misinformationyou got leftists saying everything is grey come the economy is good. you are not that person who is going to the grocery store and paying me thanhat i s ars ago. host: this is nout of abama, repuican. go aad. >>es siri was jt calling th two stories one is not being talked about rit now, and can't remember, maybe you couldorrect me. the senator who is the chair of that committee less than 1 wes ago -- host:hat wamarshalackburn taing abt? caller: ithat epstein island, where theyent bi gates and clinton? during thelightshat -- to at lite iand. host: got you, s. caller: one of the sators, christopher wray and them don't want it out, don't know. ho: marsha blackburn with th ne release under website from the d of last mon, judiciary chairm dick rbin bcking senar likeurnt -- senator blackburn, the stein flight logs. tells, what was the other one? caller: blackrock and pfizer, how they have corrupted our government. and i'm not just talking about democrats, i'm talking about republicans. that'

the waback wn everody wa saying the economy was bad, biden was pushing his five nymex -- bidenomics,isinfoation. w you got leftists saying everythings grey come the economy is gd. you are not that person who is going to the grocery store and paying more than what was years ago. host: this is no out oalabama, republican. go ahead. >> yes sir, i was just caing with two stories. one is not being talked about right now, and i can't remember, ybe you could correct me. the senator who is the chair of that committee less than 10 weeks ago -- host: what was marsha blackburn lking about? caller is that epstein isld, where they sent bill gates and clinton? during the flights that -- to that ltle island. host: got you, yes. caller: one of the senators, christopher wray and them don' want it out, i don't know. host: marsha blackbur with the ws release under website from the end of last month, judiciary chairman dick durbin blocking senator like burnt -- senator blackburn, the epstein flight logs. tell us, what was the otheone? ller: blackrock and pfizer, how they have corrupteour government. and