follow tictoc i bloomberg. -- tictoc by bloomberg. david: we are in our f block.avorite block. [laughter] david: it is battle of the charts. pitting their-- best charts against each other. you can bring them up on your bloomberg. populatedy will be soon. yvonne: there are -- they are our two china market watchers. >> this is about why the chinese currency declined this year. it is different from 2015 and 2016. depreciation is growing bigger. the pboc is loosening money policy. the white line shows the inverted. two years ago, depreciation coincided together with capital outflows. what is different now is that there is a little signal of capital leaving china massively. it has yet to justify a huge decline in the currency. barring all other variables, the game purely at this data -- david: who do i blame? >> yeah. it looks oversold. the eagerly watched level of 7 will be hard enough. this has far more at locate -- implications for other markets. china is playing a central role. david: china is no longer interesting. it is laying a central role. >> it is hard to bea

it is tictoc by bloomberg. ♪ rishaad: battle of the charts.ross assets reporter here, people putting charts against one another's views. you can access them on the bloomberg by running to that function on the bottom of your screen. david: i'm having trouble saying things. the first is sophia. >> i'm going to win already. on the biggest etf .racking china's large caps its of the biggest inflows since 2015. i know you prefer forward-looking charts but the last time this happened, when the etf had huge insights in july 20 15, 1 month later that index [indiscernible] then it rallied 73%. it could be a leading indicator. i am not -- maybe we could call it, but at least in large caps which tends to rally when the market, when chinese stocks go up. david: we can barely see that pop being alluded to. can you move in? >> it is quite big. everything that happened 2015, that was a scary time to buy. rishaad: right at the end. >> exactly. rishaad: there we go. >> during the weekend, saudi arabia's stock market had an enormous tumble, down as much as 7% at

jump on twitter and follow @tictoc by bloomberg. ♪ yvonne: take a look at markets here this morning.look much like halloween, when it comes to the equity markets. rishaad: not a horror show. yvonne: not yet. it has been all month, i guess you could say. rishaad: which brings us to the mliv question of the day. yvonne: halloween on wall street. rishaad: nightmare on wall street. yvonne: what scares you the most in these markets? at least we are ending the trading month on a positive note here. take a look at decent gains on thethrough, japan lunch break now, up 1.5%. a look at the large caps. manufacturingct pmi was the lowest in two years. rishaad: individual companies today. samsung electronics down nearly 1% in the session in seoul. what do we have in net income? yvonne: 11.4 billion dollars of growth in the memory chip business, but it has flagged, a drop in fourth-quarter earnings and reduction in capital spending for the year. on the phone from seoul is a senior technology analyst. thank you for joining us on the line. you just got off the phone with the earnings results. what d

now for a look at the stories on the bloomberg universe on tictoc.t it up with trump, and a claim made by apple. tencent looking less rosy. bloomberg.com's chart shows it spiral. among the most red on the terminal is a report detailing $1 trillion of threat to the corporate bull market. check out those stories trending on bloomberg online or on the terminal. this is bloomberg. ♪ shery: this is "daybreak asia," i'm shery on a new york. haidi: i'm haidi stroud-watts in sydney. let's get a check on the business flash headlines. halted talkson has with saudi arabia's public investment fund over the disappearance of a critical journalist. they were discussing a proposed $1 billion investment in his space company. the journalist hasn't been seen since he entered the saudi constable -- consulate. turkey says he was murdered in the building. shery: tencent's downward spiral is accelerating fast. it fell almost 7% in hong kong on thursday. it's a second worst day in seven years. asiathe biggest stock in and has lost almost 20% of its market cap in a 10 days l

yvonne: breaking news wherever you are, bloomberg and twitter have launched tictoc.tictoc by bloomberg. ♪ yvonne: it is time now for the battle of the charts here in their best charts against each other. in a couple of moments, after this whole segment is done, you can check out their charts on your on bloomberg. gtv takes you to our library. , let's starts off off with andrea. chart shows a steady decline in u.s. treasury holdings by the two largest owners of u.s. government debt, china and japan. that comes after the u.s. treasury department said that both china and japan reduced to their holdings in august, china for a third consecutive month. you can see that at the bottom of the chart, the light blue line for china sliding share of treasury. japan. yellow line for at the same time, you have the federal reserve shrinking history of holdings as it withdraws some of this sinuous it unlaced after the global financial crisis. that is the white line on the chart. why this is interesting is because it comes just as the u.s. looks to sell the most the 2008, around

global news, 24 hours a day, on air and at tictoc on twitter, powered by 2700 journalists and analysts in more than 100 countries. is jessica summers, this bloomberg. shery: let's get started with one of the most shorted stocks in the u.s., tax law. a new fund is betting on a -- in the u.s., tesla. a new fund is betting on a drop in share price. this chart on the bloomberg library showing the short interest is hovering around 26% of free float right there. the fund is not the only one trying to short tesla. how much conviction do they have? >> this is what you would call a crowded trade, the shorts against tesla. on the part of fahmi quadir is on the lower end. shorts based on the conviction they have. they do say there are real problems with the balance sheet. they point out, accounts payable is actually in excess of the amount of cash the company has. , as she sayspany in our story here, a company that is having trouble paying its bills to put it bluntly. she also made the bet ininst valeant at its peak 2015. craig: that was before it was about to crash. two companies. it is reminisc

taylor: global news 24 hours a day, on-air and tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm taylor riggs. this is bloomberg. prancing? -- prancing -- francine? francine: the imf has cut its forecast for the most in two years. -- for the first time in two years. it says the economy will expand 3.7%. meanwhile, bond investors are bracing for a flood of treasury options over three days. $230 billion of government that is on offer. this has morgan stanley throws in the towel on one of the highest profile predictions for 2018, the treasury curve from the two to 30 year would flatten completely. what is next for the trade war and what does it mean for global growth? joining us for the hour, eric nielsen. thank you for coming in. you worry about the new imf projections? >> know, if anything, they are too timid for next year. 3.25 global growth compared to 3.9 is not an important difference. underestimatethey the tension in trade next year and what i think is going to be the end of the cycle for america starting next year. those numbers,

let's check in once trending across the bloomberg universe on tictoc. japanese wedding organizer is handing out benefits to his employees for getting a full nights sleep as 92% of japanese over the age of 20 say they don't sleep enough. we could do with that, couldn't we? you have to send a message to new york. philip hammond will deliver his budget today. how largess will he be? the measures may only survive a few months. place, srihird lanka's president says assassination plot against them has led to the firing of the nation's prime minister. in second place, the tragic death of leicester city's owner has put the spotlight on a family running a duty-free business empire. search is underway as a lion air flight crashed in the java sea off indonesia. let's get the first word news. hsbc shares have surged in hong kong after the bank showed progress in maintaining its costs. 16%sted pretax profit rose to $6.19 billion versus the average analyst estimate of $5.73 billion. revenue grew by 9% and hsbc reported the jaws figure is rising in the right direction

global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists ands in more than 120 countries. i'm paul allen. this is bloomberg. yvonne: and check of the markets this morning, not looking good to end the asian session. the hang seng leading things lower with the benchmark of more than 400 points. we are poised to continue these losses for the week. gainsipping year-to-date -- losses, i should say, from 2015 when we saw the stock market bubble burst in china. we continue to see different headwinds when it comes to this confluence of fed rate hikes and trade war concerns in china as well. of course, it is golden week. the composite headed lower as well. we did break above 15,000 level. futures also seeing steve losses it seems today, down more than 1%. nikkei 225, relatively lower here, but not as much down, about 1/5 of 1%. 114.r-yen holding around treasury still getting waxed. today.en higher strong data out of the u.s. also when it comes to jay powell and the statements he's made in the past week or so. we want to show you some of the movers we ar

watch the, -- tictoc, return to the smartphone market with a companion front. those stories trending on bloomberg online or on the bloomberg terminal. this is bloomberg. ♪ shery: this is "daybreak asia." i am shery ahn in new york. haidi: i am haidi stroud-watts in sydney. a quick check of latest business flash headlines. an internet communications company is buying a specialist in an all stock deal valued at $200 billion. they combined -- their combined businesses will offer a single platform. the boards of the two companies have approved the deal, which you see sendgrid provide for twilio. aidi: it is teaming up with startup backed by google cofounder larry page to make self flying travel a reality. the two companies did not announce any specific details of their plan or indicated timeframe for when electric taxis might take to the skies above new zealand. shery: one of the most prominent investors in the crypto world sees a rally for bitcoin next year. he says he expects big moves in whenigital currency institutional investors jump in for custody and clearin

global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am jenna dagenhart. this is bloomberg. shery: a positive outlook on asia. we will find out why the bank of singapore's chief economist upgraded aipac equities. haidi: our next guest believes most investors are overweight on mega contact names. -- mega calm tech names. this is bloomberg. ♪ asia. this is daybreak i am shery ahn in new york. haidi: i am haidi stroud-watts in sydney. dominated by the decline we saw across tech, chief majors among the weakest with decline. treasury yields hitting multiyear highs again and gold seeing in advance. we saw a little more calm in the treasury market but up to the extent of the sentiment in equities. su: we saw the selloff study, but then the selloff at already reached a peak. let's take a look at the snapshot. what you see, bond yields close to 3.2. there is one prediction we could see 3.5% by year's end. that has the markets concerned. chip stocks, taking a big hit irma down 2% on the sector. you have some

global news, 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and than 120 countries. humphrey, this is bloomberg. much.ne: thank you so a year is a long time. much. a year is a long time. the ecb gives a policy decision today against a very different backdrop. policymakers are faced with an economic expansion losing its luster amid concerns including u.s. concerns, brexit and italy's standoff. joining us now from brussels is and kenctor of bruegel dukes. thank you both for joining us or sticking around. how much do you worry about the standoff between brussels and rome? i am worried by the stance of the italian government. it is taking a directly confrontational stance against brussels, against the commonly agreed rules of the monetary union. if one ultimately, member doesn't stick to the rules, the collective is in danger. francine: do you agree with that? it has also been in the surplus for so many years that they can try to stimulate the economy. >> i think there is a middle part where clubs have rules. i'm not sure what you do when i club has a

global news, 24 hours a day, on-air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm jenna dagenhart. this is bloomberg. bank stocks are near session lows, those decline coming after amazon album bit disappointed investors with the topline numbers. let's get started with amazon. ramy: it differently was a revenue missed. interestingly, this was something that was still in terms of the double digits growth that were seeing, it still wasn't enough. you can see the growth is happening at 29%, just a little more than that, but it's at its .owest in the past 1.5 years third-quarter net sales came in at 56.6 billion, that was shy by about $1 billion there. so investors are latching onto this miss, even notes considered light, it is still $1 billion. with that said, they're still the net profit that amazon also pulled in. if it were the earnings story for net profit, maybe we would see shares rising, but $2.8 billion is what they pulled in. that's more than 10 times what they had in the quarter year on year, which i'm highlighting rig

global news on air, 24 hours a day and at tictoc on twitter, powered by more than 2700 journalists andnalysts in over 120 countries. this is bloomberg. manus: thank you. juliette saly with the latest on the markets. this operates in 30 countries. it is a dutch company coming to the market in amsterdam and brussels. one big investor is based right here in the uae. and is along with the gic the dutch pension fund. they are all getting their exit plan. is 750u are expecting -- million-800 million euros. be a dividend payout ratio of 60%. the offer is expected to take place in the coming weeks. et's take you to the global perspective and get to singapore with our bloomberg mliv strategist. the team has put together a question of the day. >> we are asking about when the higher oil prices will impact developed market equities? there has been much talk of $100 a barrel in oil prices. we have seen emerging markets suffer from this kind of pain. higher oil is squeezing consumer spending. most developed market equities are immune from highs. when will this lead into when oil crisis, when this wi

global news 24 hours a day on air and on tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm jessica summers. this is bloomberg. scoop on brenta kavanaugh. a college friend of judge kavanaugh telling bloomberg that judge kavanaugh has frequently been belligerent and aggressive after drinking, and that the judge lied to senators about his experience with alcohol. this friend is a former yale basketball player who is now a college history professor. he described one incident where a fight erected at a bar, now he said the police had been called in new haven, connecticut. amount of drinking by judge kavanaugh was a key part of that drinking. president trump even acknowledging his nominee had a little bit of difficulty with alcohol when he was younger. we are now hearing bloomberg report that the former college friend said the judge was frequently belligerent and aggressive. so, bringing new light into these allegations of the judge's behavior once he starts tracking. sort of saying it was a general feature of hanging out with the brexit i

global news 24 hours a day on tictoc on twitter, i'm paul allen, this is bloomberg. rishaad: let's get to that rescue ccording to agencies at the moment that this crash, 737 maxid , unclear how many people are onboard, it was apparently jakarta andght from sumatra, a bigof order for a 737 max 8. it originally lost contact and agencies are saying that this indeed crashed. equity an ease in the markets has healed haven demand. ater in the show, where they see gold heading. rishaad: find out where the ominance in hong kong may face some challenges. this is bloomberg. rishaad: earnings a bit later what ay, also looking at they called jaws, operating jaws costs, growth, against out with the third-quarter umbers as the bank guides to positive for the jaws. espite negative results and we have seen in this measure two quarters. consecutive quarter of disappointing jaws would be received negatively. they expect the global market division to be the key swing the top line. yvonne: joining us is our opinion columnist along with sabine bauer, the director of financial ratings.ons

global news, 24 hours a day, on-air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. that's get marty tell on the biggest plunge in u.s. stocks and eight month. the s&p 500 ended almost 5% off its september record all all 30 blue chips on the dow fell and continue to fall in extended trading. then there's tech, the nasdaq suffered its biggest loss since 2016. su keenan is here. we saw bond yields rise in the beginning and then for the end of the session at the equity funds stevens, even yields went down. su: but still above 3%, which is a concern. we have some bond options that some say are important to note, chart, whatt this you have is the nasdaq 100, that's where the focus is, down with the worst performances 2011. let's go through number of charts to get the size and scope of the decline. this is the philadelphia semiconductor index, charting what has been the worst five day since april. the next chart will show you some of the big names that fell. these have been the momentum trades, i guess there is a lot

global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i paul allen. this is bloomberg -- i am paul allen. this is bloomberg. of 2016.st since may just want to show you the broad-based rally we are seeing in that market area here we go on my terminal. is uply, everything across the chinese mainland. to the upside. coming up in the program, we are talking to the singaporean minister. he will be discussing the infrastructure. that will be an exclusive with her later this hour. yvonne: fanning the saying -- fanning the flames. this is bloomberg. ♪ yvonne: u.s. treasury secretary is defending his decision to meet saudi officials this week saying his trip is aimed at reinforcing ties at a critical moment. david: calling the death of the journalist a tremendous mistake perpetrated by a rogue operation. >> there obviously was a tremendous mistake made. it is unacceptable. these things, unfortunately happen. we want to make sure that those responsible are punished and that we can prevent it from happening agai

global news 24 hours per day and that tictoc on twitter. i'm taylor riggs, this is bloomberg. francine? francine: thank you so much, taylor. theresa may is preparing to make a significant new brexit offer to the european union in an attempt to all open the door -- to open the door to a deal. divorce talks are stuck on the question of how to avoid the need for police and customs checks on the border between the u.k. and ireland, but the british side now sees it has to reaching an agreement. brexit secretary said the comments were speculation. partyck to the tory conference. anna edwards is there. anna: i'm very pleased to say i'm joined by arlene foster at the conservative party conference. let's get straight to the main order of business. is your party willing to accept ,ny checks across the north sea even if they are across a regulatory nature? >> no, it has been very clear all along that that has been our one red line that we cannot have either a customs border on the irish sea or regulatory border because that would make a separate from the rest of the united kingdom and th

global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and countries. i am taylor riggs. this is bloomberg. tom: thanks so much. just one board for me this morning. quiet markets. negative yields in europe in a moment. twos and tends spread nowhere in a week. number an extraordinary over the last week. week.fter this brent crude under $80 a barrel. francine: this is similar to what i have. stocks in europe on a downside. figure outry to where that leaves oil and the dollar much study. , they are acks little concerned about china gdp, but we had that positive news as france regulators vowed to keep risks under control. something to think about for europeans is persistent negative yields. this is a chart i pulled out months and months ago. the 10-year germany held and two-year chairman yield. yield and the two-year german yield. francine: the bavarian election was significant because it gave everyone the idea that angela merkel was more fragile than thought. the data did not come out as expected. italy also plays into the general anxiousness ov

this is bloomberg. ♪ guy: that is some of our reporting by tictoc on bloomberg. london, i'm guy johnson. vonnie: i'm vonnie quinn. pepsi returned to growth under the leadership of the new ceo. shares are sliding today although they are making up some of the loss after the cfo made a comment about the company's lack of interest in cannabis investment. joining us with the details is craig g mona. this is just because pepsi isn't going into the cannabis trade. >> no it isn't. the shares were roughly flat. there is some concern about higher cost. they are facing higher aluminum costs tied to the tariffs and their full-year profit forecast because of the stronger dollar. definitely some challenges facing the news rio as he takes over tomorrow. north american beverage sales are down 30%. they obviously would like that number higher. is it going to get any higher? >> there are signs of life north american average unit. it's a very important business. they have had to advertise more because coke is doing a little bit better. they returned to sales growth in the quarter b

global news on air, 24 hours a day and at tictoc on twitter, powered by more than 2700 journalists andnalysts in over 120 countries. this is bloomberg. anna: the international monetary has downgraded its growth forecast for the first time in more than two years. pointw forecast is three 7% growth this year and next. it blamed escalating trade tensions and distresses in emerging markets. a global market strategist at jpmorgan asset management. chart that shows the lower in someis, of these numbers they are talking about over at the imf. they are talking about trade tensions and emerging markets. do these trade tensions make you want to turn to your portfolio? we are keeping a more cautious stance in our portfolio. there could be a degree of risk. the story at this stage of the year is that there could be more risk. lower growth in emerging markets and europe and japan. trade tensions are having a huge impact on global trade volume. when you look at gdp data in the negative impact is there already. if we don't have a revolution -- resolution of the dispute ,etween china and the u.s. ther

global news 24 hours a day on air and at tictoc on twitter powered by more than 2700 journalists and analysts in over 120 countries. i'm courtney donohoe. this is bloomberg. vonnie: shares of jet lou in a tailspin -- jetblue in a tailspin. we will talk about the industry. they are down 1.8% in a down market overall. let's check the rest of the markets. indices down off their lows. moderating slightly. 1.5%.w is down the s&p 500 down 1.6%. the nasdaq is down 2% and the vix is above 22. good news for those who like volatility. this is bloomberg. ♪ guy: i'm guy johnson. vonnie: on vonnie quinn. this is the european close on bloomberg markets. pretty turbulent time for the airlines. when isn't it? jetblue.wered on is helene becker.ne still down about 1.8%. it wasn't all bad in the earnings report. what jumped out at you from the conference call? >> the key things that jumped out at me was twofold. they are doing a better job of managing the cost and they are doing a pretty good job of raising revenue through a combination of fare increases and ancillary fees. so they are starting to reac

tictoc dollars looking at the developments of the dissing journalist in saudi arabia.tories are trending online or on the terminal. this is bloomberg. ♪ ♪ asia. this is daybreak i am shery ahn. haidi: i am haidi stroud-watts. let's get you a check of business headlines. athenahealth is attracting interest from five potential bidders with an auction for a record technology company. baincapital, hellman in freeman and others considering bids. elliott management owns 5% of athenahealth and also weighing in. two companies agreed to merge and create the sixth-largest defense contractor in the u.s.. this would focus on communications and electronics ofh a current market value $33.5 billion. the deal has been approved i both boards and will result in people receiving 1.3 shares of harris, stocks. -- harris common stocks. amazon offer $400 million for a minority stake in a grocery retail chain spencers retail. be in thegreed to final stages but held up by valuation concerns. both companies declined to comment. the paper reported earlier alibaba was also in talks to apply a min

global news 24 hours a day on air and at tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. the treasury department has stopped short of declaring china a currency manipulator. furtherrting a escalation of the trade war. let's go to our washington reporter. to ease the potential tensions between the two countries. they did conclude that the criteria was in there. >> that is correct. to make the judgment under a legal framework. had they concluded that it was there, that certainly would have escalated tensions. this will not change it one way or the other. the report did warn china that it would be watching the yuan carefully and watching currency transactions especially after a recent you want devaluation. the report also said that the people's bank of china interventions in the marker had not been -- market had not been significant. it did not spare china completely but it did not name china a currency manipulator which was somewhat expected. anythinghis tell us about the split between the those looking at a more pragm

ollow tictoc for all of the latest developments. those stories trending online or on the bloomberg. this is bloomberg. shery: this is "daybreak: asia," i'm shery ahn in new york. haidi: i'm haidi stroud-watts in sydney. american express beats third expectations from strong gains from attempts to attract smaller businesses. they boosted the forecast for trimmed the fees to attract more retailers to its network. discount revenue as a measure of ees charged to her chants surged topping analysts estimates. blackstone continues to attract money, $24 billion in helpingtol last quarter it to beat profit expectations 11% to $911 e rose million compared with $822 year earlier. blackstone is bucking the private equity fundraising to reach halfopes a trillion dollars in assets early next year. haidi: a slowdown in smartphone chipmaker urting the and reported the decline in forecast ter and fourth quarter revenues below estimates. billion this $9.5 quarter lagging the $9.55 billion average estimate. it foreseize a possible spending $12 next yea

on tictoc, everyone is tweeting about canada legalizing weed on october 17. about paul allen's -- check outesult the stories trending on bloomberg online and on the terminal. this is bloomberg. ♪ let's get a quick check at the latest headlines. uber's anticipated ipo could be a record setter. the wall street journal says they could be valued of up to $120 billion. at that valuation, they would only have to offer 21% of the shares to become the largest ipo of all time am a beating alibaba. beating alibaba. center tech says net income for the first nine months of the year could jump as much as 57 percent thanks to improvements in the upstream operations. profits are up $3 billion compared to last year. 38% higher averaging than one year ago. investment in higher margin digital services and greater automation paid off. a netmpany reported income of $558 million in the september quarter as revenue climbed 17%. haidi: morgan stanley is a clear winner in the big bank race. they beat estimates and the stock is 6% higher. the ceo says the share prices are the ultimat

global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm haslinda amin. this is bloomberg. china has cut back reserve requirements for the fourth time this year as policymakers try to shore up a faltering economy weighed down by a trade war. our china correspondent tom mackenzie joining us from beijing with the details. not really a surprise, but it does underscore the pressure the economy is now under. tom: absolutely, there are domestic and external pressures in the form of the shadow that looms over this economy in terms of the trade war between beijing and washington. domestically, you have seen a number of factors that have raised the concern of policy makers terms of slowing retail sales, drop in fixed asset investment, take up on bond defaults. last week, new export orders slowed, disappointing manufacturing data. it is in that context that we on this 1% cut taking place october 15, expected to free up about $175 billion liquidity. a third of that will go to paying down debt and the rest will

global news 24 hours a day on air and on tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm paul allen. this is bloomberg. ahead, a sizzling start. set to end 2018 -- a look at why some investors say one next year might be worse. rishaad: next, china slams the brakes on oil imports from the u.s. as trade tensions escalate. we will ask how that is affecting the outlook for energy markets. ♪ ng the outlook for energy david: you can also join the conversation by sending us instant messages. rishaad: you can watch interviews again. this is for bloomberg describe is only. this is bloomberg. ♪ berg. ♪ david: yep. welcome back. let's look at the energy market now. beijing has a connection to oil imports but they are not taking chances. beijing has been the second largest buyer of u.s. oil after canada. rishaad: we'll discuss all this with scott from j.p. morgan chase. he is brought to you as the color blue come as are both of us. is seemingly to the upside. you cannot just latest on the doorstep of iran and capacity constraints. scott: we ha

global news, 24 hours a day, on-air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm jessica summers. this is bloomberg. haidi: thank you. diving back into the u.s. markets where shares led declines, but gains boosted tech. track for0 remains on the worst month since august 2015. su keenan joining us with more. we saw tech stocks and consumer stocks gain ground. su: there were a lot of gyrations throughout the day. we ended mostly lower. the bellwether stocks have yet to report earnings. they will this week. this is a week of waiting. notice the s&p financials and the energy index, the weak spot in the market as the dollar reaches a two-month high. let's look at the banks. they were the strength of the market with the exception of netflix, which was slightly down , as it announced it was putting out a $2 billion in junk bonds to finance new shows. take a look at some of the earnings and other movers. bristol-myers continuing a three-day selling round, the worst losing streak since 2016. a lot of disappointment. k alexa is an en

global news, 24 hours a day, on-air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm jenna dagenhart. this is bloomberg. the treasury department has stopped short of declaring china a currency manipulator in report on exchange rates. thus averting a further escalation of the trade war. that's go to greg sullivan for the details. does this have the potential to help ease tensions between the two countries? greg: i would say that had they declared china a currency manipulator, it certain he would have increased tension between the two countries. the report declines to name china a currency manipulator. actually said that no major u.s. trading partner was need relating their currency. it's a semiannual report that comes out. treasury secretary stephen mnuchin has been under pressure from the white house to shame certain legaler a framework, china didn't quite cross the threshold to be labeled by this report as a currency manipulator and the treasury department did not do so. in some ways it does give a amid rising tensions on mult

global news, 24 hours a day, on-air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm jenna dagenhart. this is bloomberg. we have breaking news on the bloomberg, the uk's financial watchdog right now examining whether secret relationships between companies and hedge funds could have violated market abuse prohibitions. usually the financial authority does not regulate pollsters but they're responding to a bloomberg investigation back in june that details the secret work that pollsters conducted for hedge funds during the 2016 e u referendum campaign. when we got the surprise brexit vote, that caused the pound to post one of the steepest crashes of any major currency in modern history. now the financial watchdog in the u.k. saying they are examining whether secret relationships between pollsters and hedge funds could violate market abuse prohibitions. that's really interesting. we will continue to monitor that story as develop its become available. let's take a look at the rough ride on wall street. the nasdaq slid into a correcti

global news, 24 hours a day, on-air and at tictoc on twitter, powered by more than 2700 journalists andnalysts in more than 120 countries. i'm jenna dagenhart, this is bloomberg. shery: china's leaders are seeing lending additional stimulus measures in the pipeline is disappointing data suggest recent steps to shore up the economy have not worked. tom mackenzie joins us from beijing. making this announcement just hours after that latest emi data, what exactly are they say? meeting of china's leadership yesterday afternoon, then putting out this statement, the statement included the line that they see the economic situation here in china is changing and downward pressures are increasing and they need to toceed with timely steps counter this. of course as you noted, it came, the statement after the pmi data showed manufacturing growth slowed to his lowest level in more than two years. the export gauge in contraction, broad-based disappointment in terms of the pmi numbers. responseeen policy from china's officials in the last few weeks and months we've been reporting on those, whether that

on tictoc, the u.s.e world's most competitive economy according to the world economic forum's annual report. to find out more, head to twitter. manus: bloomberg.com take you straight to the top brexit. theresa may has been told the current guaranteed to avoid a doesed border with ireland not have enough votes to pass in the u.k. parliament that she needs to get to the you summit -- the e.u. summit. onra: our most read stories the bloomberg terminal over the past few hours, in third place, trump says that is -- fed interest rates hikes are his biggest threat. in first place, netflix sores after blistering subscriber growth restores faith. mets get back to the markets, emerging market specifically. the msci emerging market index down 15%. the dollar with the majority of the blame for those losses. the chief economic advisor at movenz says the e.m. should not be about the greenback. reallocatetation to out of the u.s. is huge. i tend to think that if you are going to do that, do it with the framework of dol

global news, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. donohoe, this is bloomberg. vonnie: thank you. i'll about to give a news conference. you can watch that on live go. coming up. , resulted -- brazilians have cast of their votes. this is bloomberg. ♪ guy: acted some breaking news surrounding airbus. the stock is currently under pressure with 14 minutes away from the market close. -- 36 ofelating to 26 s that are oncker hold. it does seem as if it is the engine selection issue that is problems. this is the critical order in january that eventually cap the program on track. tim clark atlike emirates has an issue with the rolls-royce engines. there is another engine option that includes an engine that is manufactured by ge. the field or an issue is apparently causing issues with this latest order from emirates for the aircraft you see in front of you. we are seeing shares under a little bit of pressure right now as a result of this. this has been a hugely problematic program for airbus as it has try to make a market fo

global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists andin more than 120 countries. tom: thank you so much. equities, bonds, currencies, commodities. the lift on the screen right now. doubt futures up 69 points. a little curve steepening. on to the next screen with a churn in oil. the vix verily describes yesterday's tumult. yen, and renminbi out near 6.17. the aussie bid. we are seeing a response in certain parts of the market. higher.ear move we have gdp coming in a little softer than expected. btp yields are moving higher as well. that is not off the gdp data. the cable study. stillot a recession, but challenging. let's look at the bloomberg. we have a series of charts. the vix with a six-day moving average. tumult of laste february. it was out at 30. we are not anywhere near that, just under 25. we have moved up nicely here. we are not back to the february fear. that said, we keep looking at the reasons behind this most recent selloff. my chart is behind real rates. so many people have said look at what real rates are doing for the dire

global news 24 hours a day, on air and on tictoc on twitter, powered by more than 2700 journalists andlysts in over 120 countries. i'm mark crumpton. this is bloomberg. ♪ david: the imf sees problems ahead for global growth because of trade disputes. that its outgoing chief economist says the forecast could turn around if the united states and china could come to terms of a trade. >> the possibility that china and the u.s. resolve their disagreements would be a significant upside to the forecast. at some level, it is not surprising that we are more tentative in our optimism than we were six month ago. david: we welcome now philip leavy. ofserved in the white house george w. bush. welcome. is there a chance we will have the of site because we come to term with -- terms with china? opposite. the is see the more entrenched in their positions. it would be nice if it would happen. i don't think it will. david: it looked pretty bad on nafta until it happened. is there a chance that is going on here as well, sort of rings mission of negotiation and bringing it around in the last second? >> na

global news on air and on tictoc on twitter. i'm mark crumpton. this is bloomberg.eadeddemocrats were into the midterms with enthusiasm and momentum on their side. republican leaders believe that lead disappeared because of the confirmation fight of justice kavanaugh. >> it energized our voters. .hey followed it carefully we knew the democrats were excited about this election but our people are as well. it has been like a shot of adrenaline. hopefully we can match them in enthusiasm going into this midterm election. someone who has been involved into the critic house races. she served as u.s. ambassador under president obama. welcome. >> wonderful to be with you. address his enthusiasm gap. there is enthusiasm and intensity on both sides. , red states,ight perhaps more intensity then pre-kavanaugh. that could perhaps affect senate races. we have some great senate candidates. i would counter is in the house races. are in theraces suburbs. in those races huge amounts of intensity and enthusiasm is a growing. >> why is it a different story if you look at the senate ver

global news 24 hours a day on air and at tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. bombay ayers are on attack. two big economic reports came in stronger-than-expected and in italy also backed away from the budget battle the eu. how strong is the u.s. economy? >> is it really worth all that. we saw it torpedoing the bond market. the 10 year benchmark yield that you just mentioned, the highest closing around 3.18% up from may. as 30 year bond got as high 3.34. let's see what caused this. start with a bloomberg chart from our library. the 80 he came in stronger than the forecast area the number there is a private estimate of jobs. it came in at 230 topping the estimate of 184. the one year is the white line. how closely do these track? big jump in adp, you get a big jump in jobs. the manufacturing index also topping forecasts. indexs. and service rising to 61%. anything above the 50 line signals growth. report is due out on friday. people are now wondering if there will be a stronger gain. we are watching wages ve

global news 24 hours a day, on-air at tictoc on twitter, powered by more than 2700 journalists and analysts, in over 120 countries. i am mark crumpton. this is bloomberg. ♪ 1:00 a.m. in hong kong. welcome to bloomberg markets. from world headquarters in new york, here are stories around the world we are following. company morning -- earnings provide tensions over trade. damage control, saudi arabia tried to avoid face-off with united states. mike pompeo visits the kingdom. exclusive, the capital ceo is here to weigh in way forwardg to the for an elaborate and sears. let's give details with abigail doolittle. abigail: you are right. the bulls are out in full force today. and -- the dow and s&p 500 the best day since april. 2.2%asdaq outperforming of but still outpaced by last friday's rebound rally. all of this after the recent volatility in selling action we had with the major averages. we have investors looking at strong earnings reports over the trade tensions, plus rising rates. on the month and it is a bearish month. the bloomberg, these are monthly moves for the major averages out of t

global news 24 hours a day, on air and on tictoc on twitter, powered by more than 2700 journalists andnalysts in over 120 countries. i'm mark crumpton. this is bloomberg. ♪ david: the division between republicans and democrats over judge kavanaugh may never have been greater. by lindsey graham says that it has brought the republican party closer together. >> whether you are a trump republican, a mccain republican, a libertarian, or a vegetarian, you are pised. -- pised. -- pissed. i have never seen the republican party so unified is now. david: we welcome michael steele, a senior advisor to governor jeb bush, speaker john boehner, and speaker paul ryan. thank you for being with us. let's talk about the enthusiasm gaps. going up to lastly, there was said to be a big advantage for democrats over republicans. now we have this new poll out. 10-pointthere was a gap between the number of democrats and republicans saying the november elections were important. now it's down to two points, a statistical tie. >> democrats are already fired up. their hatred of president john, their belief that th

global news 24 hours a day, on-air at tictoc on twitter, powered by more than 2700 journalists and analysts, in over 120 countries. i am mark crumpton. this is bloomberg. >> it is 1:00 p.m. in new york, 1:00 a.m. in hong kong. welcome to bloomberg markets. ♪ vonnie: here are the top stories and from around the world. the strongest detector, white wall street may -- job security for the fed chair. seven days and counting. a week away from the first midterm election of's donald trump presidency. dividend.ashes its we will have a look at the action. let's get a lick it -- a look at all the stocks. abigail: we have the buyers in control but it is a shaky day. the major averages opening lower. the day of volatility. closing down this -- 2601%. that index is higher. it closes that way. sellers in control but the buyers trying to take control affirmed by the fact we have bonds lower. a slight risk that while on the highs. the high major averages of more than 1%. speaking on the part of incentives, a number of factors. shifting landscape. we have a rush into cash. in 2011, when the u.s. credit rati

global news, 24 hours a day, on-air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm jessica summers. this is bloomberg. stocks fall from a three-day selloff. retreatedto neurons while the dollar drifted lower. su keenan has more. >> we saw some bargain-hunting, but that did not last. su: we did see tech rebounding with the exception of tech stocks, a pattern late in the afternoon, bars do commit, but yes, it was elusive for the dow and s&p. let's go to the snapshot and noticed that treasury yields toward the seven-year high. interesting to note the materials sector, the worst-performing sector this year and it dropped even further. you can see the dramatic drop of the s&p 500, down almost 3.5%, and the nasdaq, the heavy only slightly. movers,ok at the big the tesla one of the basin china getting a big boost. mixed reviews from analysts who started looking at the stock on monday but because news came out --t one of tesla's investors noticed the paint makers and other material makers also very much lower. we did see oil resuming

global news 24 hours a day and on tictoc on twitter powered by more than 2700 journalists and analystser 120 countries. elections are only 15 days away and voting has already started in some states. but president trump says middle-class families could be cuting at another tax before then. mr. trump: a major tax cut for middle income people. i would say sometime around the first of november, maybe even before that. david: that promise came as a surprise to policymakers, including those in the president's own party. is a former deputy staff secretary to president clinton and a republican strategist who works for the california republican party and was a communication strategist for the campaign to recall to colorado -- two colorado state senators. you are a bit baffled. what is he talking about? >> i was baffled this morning. i immediately started working the phone and talking to members of the house leadership. said they do not believe there are any plans to bring congress back in before the midterms. they believe what the president was referring to was making tax cuts permanent from th

. >> global news, 24 hours a day, on-air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm jessica summers. this is bloomberg. diving back into the u.s. market close, we get the latest on rebounding tech, the surgeon the s&p 500 and extended our trading where we're seeing ibm fall as its revenue misses. the latest.s what was interesting about today's session was that 90% or more of the s&p 500 gained ground, one of the broadest rallies we have seen so far. su: there was a big spate of corporate earnings that were positive that boosted investor confidence and retreat in the rhetoric between the u.s. and china and the u.s. in saudi arabia. that also allow the rally to go forward. take a look at the market snapshot because we had the dollar down for a second day in a row, near a two-week low. bond yields holding, they did not rise, also giving investors confidence. and the nasdaq 100, the heavy concentration of tech stocks, far and away the pocket of the russell 2000, the broadest measure of the market as well as smaller domestic co

global news, 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists andsts in more than 120 countries. i markus karlsson, this is bloomberg. investors are grappling with what is said to be the worst month for global shares in more than three years. stocks from asia to the u.s. have seen declines of nearly 6%. what's next? we were talking a little bit about the fact that this was the most unloved bull market ever. time?s crunch what makes you worry about the u.s. economy? i keep your 2020 as the witching point. >> i think if you look at the main trends already pointing to a much weaker political environment because you see higher inflation and growth. if you look at what managers are , the equity markets are not too far away from an all-time high. there is this sense that something is going on. also political issues that are always there. there are a number of facts that will keep markets relatively within range. given what we have seen in the last few weeks, i really suspect we are going to see a year-end ready. francine: if you look at markets around the

global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists andthan 120 countries. i am taylor riggs. this is bloomberg. francine: thank you so much. theresa may says she is considering a plan to extend the brexit transition time but does not expect to use the option. it could end a stalemate on talks which have stalled over the issue of the irish borders and eu leaders have extended the deadline for a summit in brussels. >> a withdrawal agreement and future relationships come on withdrawal agreements, there are issues around -- the backstop is what would come in place to ensure that there would be no hard border between northern ireland and ireland, if the future relationship is not in place by the end of the implementation time. 29 of march where the last date the united kingdom is a member of the european union and we have to have a deal before. all united behind michelle. >> i want to be optimistic. is march. favor -- we need to work a lot in the next weeks. leaders: some of the eu as they were meeting in brussels. let's get back to david folk

global news 24 hours a day on air and at tictoc on twitter powered by more than 2700 journalists and analysts in over 120 countries. i'm courtney donohoe. this is bloomberg. vonnie: coming up, president aump clears the deck for china trade negotiation. we will look at the standoff between the worlds two largest economies. this is bloomberg. ♪ vonnie: from new york, i'm vonnie quinn. guy: in london, i'm guy johnson. this is the european close on bloomberg markets. vonnie: president trump clearing the decks for a trade credit -- pivot to china. also holding the nation's attention this week as a potential senate vote on brett kavanaugh's nomination to the supreme court and let me update you with the latest on that. the fbi interview with kavanaugh's friend mark judge has now been completed according to the associated press. a major step in the fbi investigation. cirilli whoin kevin is live from the white house. john cornyn has said he will not vote on this until the fbi investigation is complete in spite of mitch mcconnell weighing there will be about this week. where do we stand? botht

global news, 24 hours a day on air and @tictoc on twitter powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. >> thank you so much. let's head to sydney and speak to garfield reynolds from bloomberg's mliv team. you have a question for the viewer on the greenback. this is the question of the day. is, will theon dollar die off was china gets back from holiday? it might sound and odd question, but bear with me. back in february, when china took a week off, the dollar back then we can the long way, only to bounce back. the decided they did not yuan to get as strong as what is implied by what the dollar is doing. since then the dollar and the eu , the dollarhe yuan has risen, the yuan has fallen. famously getting some of president trump's eye because china was seen as using a weaker yuan to help exporters. now the dollar has been on an absolute tear. there are a lot of reasons for that. one reason we think could well be that the pboc is on par with everybody else. it has not been fixing the yuan. help to stop that the dollar peak in august. once the

global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more -- all over the country. i am courtney donohoe. this is bloomberg. vonnie: coming up, talking with a ceo. this is bloomberg. ♪ guy: live from johannesburg, i am guy johnson. vonnie: a new york, i am vonnie quinn and this is the european close on bloomberg markets. guy: let's talk about the railroads, union pacific beating in the third-quarter, with trade demands, and a new precision scheduling strategy. it seems to be working out. good news for the railroad who stocks have been dropping through october. lance fritz is the chairman and president and ceo of union pacific. he joins us now. nice to have you on the program. freight rates look solid come is that sustainable -- solid, is that sustainable? mr. fritz: they do look solid and we think they are sustainable. we experienced good, solid topline growth and that is in a marketplace where a lot of our competitive alternatives, trucks, specifically are constrained. that created a pricing environment that has been pretty