now we turn to ritika gupta with first word news. ritika: european trade commissioner bill hogan says the eu is likely drop its opposition to extend the period. this is despite legislation that calls for britain's eu departure on january 31. the bill would be debated again in the new year. the bill includes a provision that outlaws extending a plant transition period beyond the end of 2020. in north korea, kim jong-un is expected to use his annual new year's speech to ratchet up pressure on president trump. for months, kim jong-un has been threatening to take a new path in nuclear talks of the president does not sweeten the deal by the end of the year. he has already resumed missile launches at a record-setting pace. andarned his freeze on icbm nuclear bomb tests might be coming to an end. a reshuffle in china's regional government is currently underway. multiple personnel moves took place in 24 provinces and only a week. 32 new mayoral level officials have been appointed. 29 have been relocated to a new province for the first time. v

over to you, ritika gupta. the white house may take part in future impeachment hearings, but will not be present wednesday. the white house criticized the committee for demanding -- before any witness had been named and called the process unfair to the president. all eyes will be on china in madrid. negotiators from is 200 countries will be there for next round of united nations climate talks. china is in focus for several reasons. it is the world's largest investor in renewable power but it is also the world's top carbon polluter. opec and its allies are gambling the golden age of u.s. shale oil is over. when they meet this week they will discuss whether to expand their current output target and reduce it. the reason opec believes the relentless u.s. oil production will slow rapidly next year. in germany, angela merkel's party is playing hardball. the christian democrats told the social democrats there'll be no renegotiation of the terms of their alliance. they can quit to the governing coalition if they cannot

let's check in on first word news with ritika gupta. ritika: the u.k.ote later thursday in an election that will define its relationship with the eu for years to come. brexit has been the central issue in the campaign with prime minister boris johnson insisting the contingency board will only happen quickly if the conservatives turn a strong victory. uncertainty surrounding brexit has led to eu leaders hoping for a johnson win so the negotiations can come to an end. we will have special extended coverage of the u.k. elections as the results roll in. saudi aramco sword on debut, rising 10% and taking it market valuation to almost one point $9 trillion -- saudi aramco soared. atting the kingdom's goal of $2 trillion valuation in reach. it is a critical part of a plan to wean saudi arabia off fossil fuels. the hong kong strengthened the most in four months on fears of a liquidity crunch. traders speculating the climb may tighten as banks conserve funds for regulatory checks, although there was no clear evidence from the interbank market. the number of peop

here's ritika gupta. ritika: the white house won't take part in this week's impeachment hearings. president trump kept open the possibility that a future session -- that in future sessions, he would be represented. the white house counsel said the entire process had been unfair to the president. he criticized the house judiciary committee for demanding a response before any witnesses were named. democratic presidential candidate joe biden is trying to breathe new life into his campaign in iowa. it is a place where he has struggled, despite leading the field in most national polls. biden kicked off an eight day tour this weekend. february 3 arees the first tests for the democrats. visits is freezing port by u.s. warships and will sanction some american organizations. that is after threatening to retaliate for president trump's decision to sign a bill bucking hong kong protesters. in the u.k., prime minister boris johnson is betraying his conservative party as backers of law and order. conservatives are pushing the message that delivering brexit will bolster use -- will bolster u.k.

let's check in on first word news with ritika gupta. ka: the house is in session for a historic vote to impeach president trump, accused of abuse of power and obstruction of congress. democrats control the chamber and appeared to have the votes to approve the articles of impeachment. that would lead to a trial in the republican-controlled senate next month. the president tweeted his outrage today, saying, "i did wrong." the trump administration once americans to pay less for prescription medication. the government unveiled a plan today to loosen restrictions on importing foreign drugs and get more inventory from canada. that incited backlash in canada, where some said it could lead to shortages of critical medicine. among americang teenagers more than doubled in the past two years. according to the university of michigan, about one out of five high school students has vaped marijuana in the last year. in fact, marijuana vaping has been growing faster than nicotine vaping. it will be a 50-50 merger of two automotive dynasties. maker psale

i'm ritika gupta. this is bloomberg. vonnie: thank you. let's take a look at where europe finished its final session of the year. --kets closed across her up across europe early today for the year. the ftse 100 one of the worst performers, up 12% nonetheless. year in 20 the best for the cac 40, up more than 26% for the session. the dax as well one of the best performers. we will take a look, as well is the u.s. session, when we continue. this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. this is bloomberg markets. here's abigail doolittle. abigail: small moves on this last trading day of the decade. fractional moves lower for the s&p 500. higher for the nasdaq. flipping between those small gains and losses. during the european session, we see that the stoxx 600 made a very small move to the downside, but suggesting that all of this is more risk on then risk off, even though it is hard to determine. haven bonds pulling back, the 10 year yield up for the second day in a row. at this point, 1.90%. othehaven assets could sugg

here's ritika gupta. kailey: chinese officials --ritika: chinese officials say they are in close negotiation with their counterparts in the a phase i deal. u.s. negotiators have said they are confident they can get an interim agreement i december 15. imports from china hit a three year low in october. offeredabia has fellow opec numbers ideal. if they quit cheating, saudis will curb their own oil output. they are meeting in vienna today. it is not clear if they are offering to take even more oil off the market. other countries have consistently failed to input meant there promised cut. that leaves saudi to cut more to keep prices up. british prime minister boris johnson making bold promises before next week's election. he says if he wins, he will deliver brexit, a taxcutting budget, and more in the first 100 days. has said thatty the conservatives have had "almost 3500 days of failure." global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in m

here with the details, ritika gupta. ritika: u.s. reportedly making a new bid to get an interim trade deal with china. according to "the wall street journal," they'd offered to cut onsting tariffs by up to 50% $300 billion of chinese goods, and cancel new tariffs such a effect on sunday. in return, the u.s. once from commitment by the chinese to buy more products. the house judiciary committee approaching a historic vote on impeaching president trump. this morning, lawmakers voted on a moments. at the end of the day, they will be asked whether to send the two articles of impeachment to the house floor for debate and vote. a warning from the international energy agency. it says the global oil markets still face a surplus next year even if opec and its allies deliver newly announced production cuts. the iea estimates inventories will grow by about 700,000 barrels a day, even if the cuts are implement it. in turkey, a surprise from the central bank. it cut its interest rate from 14% to 12% today. policymakers were emboldened by the stab

his ritika gupta. kailey: democratic-controlled --ritika: the democratic-controlled house chamber is set to make donald trump the third president to be impeached. lawmakers will consider two articles of impeachment, abuse of power and obstruction of congress. that sets up a trial in the republican-controlled senate expected to acquit the president. the trump administration once americans to pay less for prescription medication. the government unveiled a plan to reduce restrictions on importing foreign drugs and get more inventory from canada. that incited backlash in canada come over som said it could lead to shortages of critical medicines. of marijuana in haskell students increased faster than nicotine vaping. it will be a 50-50 merger of two automotive dynasties. the boards of fiat and peugeot maker psa group will create the fourth-largest carmaker. the new company will be led by psa's ceo. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and ana

here with the details, ritika gupta. : house democrats will draft articles of impeachment against president trump. house speaker nancy pelosi says the president's actions are a profound violation of the public trust. rep. pelosi: the president leaves us no choice but to act because he is trying to corrupt, once again, the election for his own benefit. the president has engaged in abuse of power, undermining our national security and jeopardizing the integrity of our elections. ritika: earlier today, president trump urged democrats to bring charges against him quickly, "that way the nation can move beyond -- quickly, that way the nation can move beyond the matter. chinese officials say they are in close contact with u.s. counterparts on trade negotiations. they again called for tariffs to be cut as part of a phase one deal. u.s. negotiators have said they are confident they can get an interim agreement by december 15. and while, u.s. imports from china hit a three year low in october. it is a sign of a strong labor market.

kicking things off is ritika gupta. ritika: my chart shows the u.s.upper hand over china in the trade war. the shanghai composite relative to the s&p 500. you can see the downward trend, the yellow line, over the past years. if we go back to march, chinese shares outperformed u.s. shares in a big way. they have struggled to find momentum. u.s. shares have soared. why the switch this year? trade is obviously a big factor, but it is also the diverging monetary policy stances. the feds dovish tilt has supported u.s. stocks but in china they are taking a more prudent approach to stimulus. with the u.s. presidential election next year and the fed indicating it is in no rush to cut rates further, markets could be volatile in 2020. it will be interesting to monitor the direction of this white lie next year in relation to the yellow trendline. if it goes above the yellow line it could be quite a bullish signal for chinese stocks. you can check out my chart on gtv . .onnie: ritika gupta a phenomenal chart and a phenomenal presentation. a hard act to follow

i'm ritika gupta. this is bloomberg. it is 1:00 in new york, 6:00 in london, 2:00 a.m. in hong kong. i'm shery ahn. welcome to bloomberg markets. from bloomberg world headquarters in new york, here are the top stories on the bloomberg and around the world that we are following. two more trading days in what has been a blockbuster here for equities. while the euphoria last into the new decade? china takes another step to liberalizing its financial system, ordering lenders to adopt a new pricing regime. it is still early days in goldman's push to bank middle-market companies but it is making progress in one count. rating talent from rivals. what's get a check on the market with kailey leinz. we are almost done with 2019. kailey: two trading days left. we are a little bit softer, invt easy. right now, the s&p is lower by .3%, as is the dow and nasdaq, all of this on lighter volume. even as stocks are lower, so our bonds. the 10-year yield looking at 1.9%. that is leading to a bear steepener money look at the spreads between

here's ritika gupta.ika: president trump renewed allegations that democrats are engaged in "presidential harassment." the president wrote that the "do-nothing party once to do -- the "do-nothing party wants to do nothing with the articles." that step would trigger the start of a trial and start work on other matters. one of president trump's staunchest allies in the house seek reelection. north carolina republican congressman mark meadows may even leave congress before his current term expires. forows told politico's work the trump administration is only beginning. meadows has been one of his closest advisors in congress. american farmers are seeing the results of that partial trade deal with china. bloomberg has learned that china has returned to the u.s. market to buy soybeans. american exporters have sold at least five cargoes to chinese buyers since monday. beijing issued waivers that let farmers purchase soybeans without telling tori tariffs. defied the ban could express -- the ban to express anger i

here is ritika gupta.he house judiciary committee is approaching a historic vote on president trump . lawmakers are voting on amendments. at the end of the date they will be asked whether to send the two articles of impeachment to the house for about. applications for unemployment benefits unexpectedly rose to a two year high. jobless claims increased to 252,000 last week. that reflects the volatility around the thanksgiving holiday. the underlying trend is a tight labor market. employees are reluctant to dismiss workers. a warning from the international energy agency says global oil markets still face a surplus next year. that is even if opec and its allies deliver newly announced production cuts. the iea estimates inventories will grow by 700,000 barrels a day, even if the forecasts are implemented. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. . am ritika gupta this is bloomberg. guy: thank you very much, indee

let's check it on first word news with ritika gupta. : senate majority leader mitch mcconnell is denouncing the impeachment of president trump as unfair. speaking on the senate floor, he said the senate was created to provide stability and that "moments like this are why the united states senate exists." mitch mcconnell also accused nancy pelosi of being afraid to nd "their shoddy work product to the senate." one of president trump's staunchest allies in the house will not seek reelection. north carolina republican congressman mark meadows may even leave congress before his current term expires. meadows told lipo his work with hisp said -- told politico work with trump's administration is only beginning. mark meadows has been one of trump's closest advisers and the congress. american farmers are seeing the results of the partial trade deal with china. farmers have learned china has returned to u.s. markets to buy soybeans. waivers that let buyers purchase soybeans without retaliatory tariffs. in india, the government is banning protests

shery: let's crossover to ritika gupta for the first word headlines. police say six people have been killed in a shooting in jersey city, including a police officer, to potential suspects, -- two potential suspects, and three bystanders. it is not clear who was behind the attack, but police say it is not thought to be an act of terrorism. the hong kong appeals court rejected the government's request to temporarily extended controversial ban. ruling represents another setback for chief executive carrie lam with the latest local opinions poll showing public confidence in her leadership falling to 10%. passenger car sales fell in india for a record, extending 13 straight months in november, falling almost 11% from one year ago. demand for new vehicles slumped as the economy grows at its weakest pace in more than six years. there was one bright spot. new suv models spurred some interest among buyers. faces a newcoon -- threat with 12 state on damien petitioning to be declared bankrupt. the group has gone to court in london, chasing $1.5 billion in unpaid de

here's ritika gupta. : a house panel says president trump we traded the nation for his political -- president trump betrayed the nation for his political gain. he faces two articles of impeachment. the house will vote wednesday. the vote is all but certain to result in president trump's impeachment, though he is expected to be acquitted and a senate trial. the u.s. is urging kim jong-un to drop his hostile tone and return to nuclear talks. north korea also being warned not to engage in provocations during what an american double mat called "the sacred christmas holiday." north korea said it had conducted a second test that boosted its nuclear capabilities. in the u.k., prime minister boris johnson's government will introduce its exit bill to parliament -- it's brexit bill to parliament this friday. the question is whether the government can get the bill to a vote this week instead of having to wait. in india, more violent protests over the new religion based citizenship law. parts of delhi were locked down

first word news now with ritika gupta. test job losses at unicredit pushes the global total for all mentors this year passed 75,000. unicredit announced 8000 cuts tuesday as part of a major overhaul. more than 80% of the global cull has taken place in europe, where a slowing economy has forced banks to slash costs. the asia-pacific has seen the least impact. rents in prime shopping districts in hong kong will fall sharply next year according to a property agency. it is predicting reductions of 15%. sales plunge amid ongoing protests. street-level outlets in causeway bay charge the highest runs in the world and the third quarter, beating new york's fifth avenue in london.street iran admitted security forces have shot and killed protesters during recent unrest across the country. describing the victims as rioters, state media reported on widespread clashes over a rise in gas prices. thee is criticism to crackdown on demonstrators. amnesty international says at least 200 people have died. manila airport has reopened batteredyp

ritika gupta is here with first word news. stunning turn of events in the saga of carlos ghosn, the former nissan chairman. he fled from japan to lebanon to escape what he called a rigged testis system. he was arrested -- rigged justice system. he was arrested a little more than a year ago on alleged financial crimes and was awaiting trial, but he says he is the victim of injustice and political persecution. he has lebanese citizenship, and lebanon doesn't have an extradition treaty with japan. dozens of protesters stormed the u.s. embassy compacts -- embassy complex in baghdad. guards fired gunshots and tear gas to contain protesters. president trump tweeted that iran orchestrated the attack. it is one of the largest corporate espionage efforts ever. chinese intelligence stole large amounts of documents from scores of companies, according to "the wall street journal." they included mining company rio tinto and health care giant philip. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700

let's not get to first word news with ritika gupta. ritika: nato leaders have wrapped up their 70th anniversary summit with a statement on unity but a few bumpy moments on the way. president trump canceled his own final press conference, calling canadian leader justin trudeau two-faced after a video appear to show him joking with other leaders at trump's expense. meanwhile, french president emmanuel macron stuck to his message of saying nato should strategic priorities rather than how much each country spends. iraq is dropping its a surprise call for producers to deepen output restrictions, now saying it would be better to extend current limits for another year. japanese prime minister shinzo abe is expected to announce a massive stimulus package later on thursday to boost growth in an economy dealing with a slump in exports, a string of natural disasters, and the fallout from the sales tax hike. the measures are likely to total 230 billion dollars, making it the equivalent of 4.5 percent gdp at face value. the hong kong government has

i am ritika gupta. shery: telling bloomberg the u.s.nd china are moving closer to a green -- an initial trade deal. despite recent harsh coming up next, another raid. retail sales numbers next. this is bloomberg. ♪ haidi: getting breaking news crossing the bloomberg on the state of the australian economy. the balance coming in at 4.5 billion aussie dollars. that's lower than the 6.5 billion expected. retail sales unchanged month on month. looking at a gain of 3/10 of 1%. that is coming in unchanged. number,e balance breaking them down. seeing october experts falling 5% from a month earlier. imports were little changed from a month earlier. certainly a little bit of a damper given the trade had been a rare bright spot amid mixed signals on the australian economy and disappointing numbers we had yesterday. let's get immediate reaction with our bloomberg economist. great to have you. a little bit disappointing. >> that's right. the first rate is a disappointing one. looking at the trade data, it is not unsurprising that the trade balance w

i am ritika gupta. this is bloomberg. vonnie: thank you. of the hour is one of 2019's struggling ipo's, lyft. taylor riggs joins us from san francisco. a difficult year for lyft. taylor: it has been. they are down an additional 5%, bringing the total lost since their ipo 40%. both lyft and uber have been struggling. isay's news is los angeles considering making both uber and lyft use electric vehicles to help curb emissions as their goal to become carbon neutral. that is putting some pressure on the stocks. what i wanted to do is take a look at some of the sales growth. it struggled in 2019. you had sales drop in some of those vehicles. they are expected to rebound. 25% growth since we talked about how well tesla is doing. the flipside is they want the cars to be ev by 2050. that could put pressure on them. want to run through some of los angeles's plans. we know they want to cut omission by 25% by 2028, carbon neutral by 2050. -- of passion dirt vehicles 30% of passenger vehicles need to be electric, and they are looking to cut single occu

we turn out to ritika gupta with bloomberg first word news. risen: the death toll has in a shooting at the naval air station in pensacola, florida. authorities say four people are dead, including the gunmen. seven others were wounded, including two sheriff's deputies. no word on who the shooter was or a possible motive. it is the second shooting this week on a navy base. sailor shot two workers and injured another before killing himself monday in pearl harbor. --sident jack presidential presidential candidate elizabeth warren has been given a clean bill of health. her personal physician says her weight, blood pressure levels are all in normal ranges. her only medical condition is hyperthyroidism, for which he takes medication. elizabeth warns dr. says she follows a -- elizabeth warns doctor -- elizabeth warren's doctor says she has a clean bill of health and exercises regularly. at the summit in vienna, opec decided to redistribute between its members following pressure from saudi arabia. for a long time, the saudi's carried an outsized share

i'm ritika gupta. this is bloomberg. story, theur top impeachment debate rolls on as democrats lay out their case against president trump. let's go straight to washington and bloomberg's politics reporter. set the scene for us tonight in terms of those votes on the articles of impeachment and if we could see some surprises in terms of defections from both parties. >> we are nearing the end of a lengthy six-hour debate on the floor of the house regarding the impeachment of president trump. he will be the third president in american history -- just the third -- to get impeached. it is almost certain to happen. house democratic leaders have a cushion of about a dozen votes. even if they lose some, they are thel likely to succeed in boat and to impeach the president. the only defections we have seen so far -- and this has been consistent since the opening of the inquiry -- is two democrats. collin peterson, who represents one of the most republican leading districts, and jeff andrew of new jersey, who was rumored to be joini

now let's get an update on what is making headlines outside the business world with ritika gupta with: the u.s. has launched airstrikes on bases in iraq and syria. the defense secretary called the attacks successful and did not rule out further action. been the fall there of rocket attacks into u.s. installations. president trump called vladimir putin to thank him for intelligence that help prevent terror attacks in russia. russia says the leaders discussed further cooperation to fight terrorism and other matters. and civil rights icon john lewis has been diagnosed with age four pancreatic cancer. the most senior black lawmaker in congress is 79. he says he is never faced a fight like he has now. in 1965 he was beaten by alabama police and suffered a skull fracture during a civil rights march. 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 am ritika gupta. this is bloomberg. david? musk: coming up, elon builds a new factory in shanghai in 168 working days. we talk about teslas move into

i'm ritika gupta. this is bloomberg. shery: momentum from the interim trade deal helped push stocks to more new highs. asian stocks are set to highs after u.s. and you -- our next guest says there's is more to come in 2020. , always great having you with us. of course we continue to see this global rally. this chart on the bloomberg showing world stocks continuing to search higher. i wonder if you take a look at technicals on this gdp sharp -- chart, we are seeing stocks at overbought territory. can this potential phase i trade deal be enough to extend the rally to 2020, or will we need more catalyst? jay: i think we have covered a fair bit of ground the last couple weeks and months. markets are up, 5%, 6% over the last few months. it is natural markets near-term have gotten overbought. but 12 months down the road we are quite constructive. we had the view of a fall risk asset rally last time we were on. we see that morphing into what we call reflation 2020. youeopolitical clouds part, have continued policy support, not

let's check the first word news with ritika gupta. : former fed chairman paul volcker has died. he broke the back of inflation in the 1980's. there, he worked with president obama to rein in the investment risk of commercial banks. that led to the volcker rule. paul volcker was 92. the fbi is calling the shooting at a florida naval base an act of terrorism. a saudi air force officer in the u.s.shot and killed three naval personnel. he was then killed a sheriff's deputy. saudi arabia is promising to cooperate in the investigation. some republicans are calling for the u.s. to temporarily halt training programs involving foreign servicemembers. a volcano eruption on new zealand's white island. . killed at least five people. others are missing, and dozens more injured. about 50 were on the island. many were believed to have been from a cruise ship. white island is about 30 miles off the coast of new zealand's north island. how's investigators make their closing arguments in the democrats' case against president trump, debating how far they

here's ritika gupta. ritika: house democrats have introduced two articles of impeachment against president trump. he's accused of abuse of power and obstruction of congress. >> the argument why don't you just wait amounts to this. why don't you just let him cheat in one more election? why not let him cheat just one more time? foreignlet him have help just one more time? judiciary committee will vote on articles of impeachment thursday. at sets the stage for a vote by the full house next week. house speaker nancy pelosi also gave president trump a major win on capitol hill. policy announced a there is an agreement on a modified trade deal between the u.s., mexico, and canada. she called it a victory for american workers. president trump tweeted that the agreement will get rid of what he calls the country's "worst trade deal" nafta. bloomberg has learned the u.s. and china will focus on cutting import taxes currently in place to enable negotiators to avoid having to choose which among thousands of products c