women's campaign pick you walk by ubs and you see firm of choice for women. this is because it has not escaped every wealth management firm has noticed that either the firms are going to figure out how to deliver what women have clearly been asking for, or they are not in somebody else is. we've gone from some of the nice touchy-feely stuff that happened in the industry in 2006, which was more human resources game when times were great, too this is a true business imperative that will affect corporations, balance sheets and stockholders. that is what bring all this on and we owe it to you as an industry to be there, to be respectful of your time, your treasure and your talent. and you owe it to yourself and your family and her daughters and in my case my son, to demonstrate and set by example that we care, we're disciplined, we all are worth and we do it before there's a necessity that puts us in that place. >> gazelle, you talk a lot about the fact women mesozoic and at other we have time constraints. you run your own businesses. you do philanthropic work to

ubs recently published a survey, focused largely around women and how to earn your wealth, own your worth, you got it. why is it that women are not necessarily taking control of their finances, despite of being more outspoken than before? more successful than ever before? what is holding women back? >> it's a great question. i think what ubs tried to do is use the network that we have of women who either find themselves divorced later in life, which has been called the great here, silver haired, divorced and widowed. the women who had advocated financial decision making their entire lives and were in the position either intentionally or through really sort of chaos and circumstances to all of a sudden have to understand how to manage their wealth and that is a really complicated thing. it's difficult to do in your 50s, 60s and even in your 20s. why is it that so many women have abdicated financial decision-making, financial decision-making to their partners? and to take some responsibility as an industry partner, why is it that the natural services industry is a widely talented, whether t

you walk by ubs and see firm of choice for women. this is because it has not escaped every wealth management firm's notice that either the firms are going to figure out how to deliver what women have clearly been asking for or they're not, and somebody else is. so we have gone from some of the nice touchy-feely stuff that happened in the industry in 2006, which was more human resources gain, when times are great, to this is a true business imperative that's going to affect corporations, balance sheets, and stockholders. so that is what's bringing all this on. i think that we owe it to you as an industry to be there, to be respectful of your time, your treasury, and your talent, and you owe it to yourselves and your family and your daughters and in my case, my son, to demonstrate and set by example that we care. we're disciplined. we own our worth, and we do it before there's a necessity that puts us in that place. >> now, you talk a lot about just the fact that women necessarily can't have it all. we have a lot of time constraints. y

if that weren't enough, another price target cut on apple, this time from morgan stanley, following ubsquawk alley" has the analysts behind that note first, markets are taking a blow dow down 180 bob pisani has more. >> this is what makes everybody nuts, discussions on trade talks. we move the markets with larry kudlow's discussion. look at what's happening you go into the markets. markets open you have positive momentum on the jobs report. the sentiment is with us here is larry, comes on with us here and says comments that larry kudlow was typically make. for example, progress, get a lot done in 90 days on trade talks he would consider extending that truce if good progress on tariff discussions. all positive we go up 15 points in the s&p, then drift around, then peter navarro on another network he says if progress is not made in 90 days, we will reinstate tariffs essentially. down, 15 this is what makes everybody crazy. it is hard to get a consistent pattern in all of the discussions. and you get the usual things that tend to happen, but with all of the trade names, boeing, the same pa

former ubs america chairman on whether that omission is a dangerous mistake. >>> and one year after bitcoin hit $19,000, we have a bitcoin bull/bear debate and charlie will break it on this market selloff right now. will it get worse? 59 minutes before the closing bell rings. let's get to breaking news. >>> here it is. t-mobile and sprint win merger approval, according to the dow jones news wires. the deal is still under antitrust review from the department of justice and the federal communications commission, but of course, the committee for foreign investment, they approve whether certain companies can merge with others and it involves foreign companies. well, they have said okay. the stocks are paring their losses. t-mobile is down 1.25%, sprint down nearly 2%. but more breaking news here. look at the price of oil. this is disconcerting for anybody who owns energy stocks or outright oil futures. settling below $50 a barrel for the first time in more than 14 years. 14 months, rather. we are down right now about 3.fifr3 3.5%. head winds include slowing globe growth but oversupply. then you

nejra: themos fiotakis from ubs stays with us.resa may says she will fight a no-confidence vote everything she has got. this is bloomberg. ♪ nejra: economics, finance, politics. business "bloomberg surveillance." huawei ceo has been granted ale and vancouver. vancouver. president trump telling reuters he would be prepared to e in the case of it it helpedo ignore -- secure a trade deal. he also threatened to shut down the government and his border wall is not funded. if we don't get what we want one way or the other, whether it's through you, military, anything you want to call, i will shut down the government. i am proud to shut down the government for border security because the people of this country don't want criminals and people that have lots of problems and drugs pouring into our country. >> at least three people have been killed and more than 10 wounded in strasburg. local media saying the suspect of a 29-year-old man who had already been considered a security threat by the authorities. the city center was closed off for p

ubs will pay hundreds of millions of's dollars to use microsoft's about services.st bank may store data at microsoft facilities in geneva as soon as next year. the move will reduce cost for ubs while complying with privacy rules. it's a big win for microsoft. amazonon is testing and subscription for yoga lovers. they're putting the most loyal customers into a paid membership program that comes with your classesasses -- yoga and yogawear. onfrey goodlatte's speaking an accord. --says the that is your business flash update. it's time for smart charts. here's abigail doolittle. abigail: 2018 is turning out to be the euro volatility. it's not clearly risk on or risk off. yesterday case in point. the s&p 500 on the here, let's take a look at the long term chart to see the volatility fits into the bull market -- where the volatility fits into the bull market. this is a one-year chart of the s&p 500. we have been looking at similar charts. we have a sideways trend slightly up. the volatility started earlier in the year. january was the best month since march of 2016. inte

paul donovan from ubs with management to joins us.hink most economies do not feel that he was being particularly dovish. he was stating what the fabled lot is facing, which is three or four rate hikes. a think the market perhaps got a little excited about a slight change in tone, and that is ok. i think we certainly see a december hike, and i would be looking for three hikes next year. , butnk that is justified of course, it is taking place alongside continued quantitative tightening. this is not just about monetary policy, it is also quantitative. francine: how do they look at trade? this chart implies volatility, you can see it in the volatility how should the economy -- how does the u.s. economy look at trade? paul: you are right, it is focused on the u.s. economy. it is not worried about the. noise in the equity market or what is going on in the rest of the world of drop point -- up to a point. we are seeing negative consequences on the trade sector start to come through. companies perhaps deferring investments, we have even seen

alternative from ubs is with me on set. of the week, we still see this selloff in equities and try to figure out what exactly the fed could have gone wrong. what is one of the big mistakes given more nuance on the balance sheet? >> the markets have misjudged the fed. morearkets think they are important than they are. the federal reserve exists to sort out the economy. the economy is doing just fine. in 2018, the u.s. economy has done exactly what was expected to do. 100%. it has been astonishing. if you look at the ubs surprise index, it is a flat line this year. there are no surprises whatsoever. the fed is responding appropriately. they told everybody we are going pause. pause, hike reactedets suddenly surprised because they had a temperature from and thought the fed was going to -- temper tantrum and thought the fed was going to ride to the rescue. nejra: referring to dollar weakness, does the dollar weakness tell us something other than what the equity markets are telling us in relation to the fed? >> the dollar is not

ubs says resemdemptions are near peak would you use this volatility to add to positions >> we would. at this point again, given the fact that the backdrop, it looks favorable, albeit slower, and the fact that sentiment is as sour as it is, contrarian indicator to us, this is a normal bottoming process for a typical ten plus percent correction that you had since 2009 this is number six we would look to be adding. >> alicia, we had half of the s&p stocks down close to 20% a lot of value knocked around here what does it mean to try to position coming out of it, and what are you looking for as signals. yesterday, big tech was a bright spot credit markets were okay for a day. >> i look at credit markets and look at one of the most hated sectors, financial financials have been the pain trade for this year, in part because of the flattening of the yield curve, and also concerns on growth. after all, the economy is mediated for the banks if you see the financials trade up and if you see credit spreads come in, particularly in high yield and bbb sector, i think you're okay. >> how do you read

if you think that the story sounds slightly familiar, last ub had another tech elegy giant of china, fined by the united states for selling its goods to iran and north korea. the company was almost new bankruptcy when the us authorities said that american companies cannot deal with them. it is an ongoing situation. are developing story and we will have more from this macron —— huawei arrest. thank you so much. let's ta ke arrest. thank you so much. let's take a look at the oil market. overnight, opec and non— opec leaders that have been arriving in vienna for a eight crucial meeting. saudi arabia has indicated a need for state reductions in output, but has come under pressure from donald trump to push oil prices lower. last night as he left opec‘s headquarters, and's oil minister said that the cuts have been recommended at that numbers have not been discussed. we have not discussed them. is there are a number? not yet. work in progress. we call it a reduction. this is uncharted territory! a lot of pressure from reporters there. our a nalyst told pressure from reporters there. our ana

does ubs agree with that >> reporter: right now the base case is just uncertainty our base case is thatl be a deal at some point so this vote is one step in a series of further maneuvers by all parties. it's important to stress one of the amendments last week wilfred just talked about has strengthened the hand of parliament within the negotiations which has reduced the likelihood of a no deal or a crashout that's one reason why u.k. assets are not further under the weather at this point. >> i don't know -- i don't want to call it bad news, geoff, because there are people there who wanted brexit. they voted for it. from a markets perspective do you think, quote, bad news is priced in? >> a lot of the bad news i would say or the uncertainty is priced in, especially after last week of course there are certain forks in the road and different directions that people will go down if let's say tomorrow's developments do lead to the prime minister and if there's a general election, that's more domestic uncertainty and we bring in a domestic element to it clearly not out of the woods yet but agai

massive amount of money that her husband received in speaking fees from united bank of switzerland ubsomehow that coincided with the state department letting a whole bunch of ubs clients off the hook for tax evasion. so you pay bill clinton one giant check in mysteriously dozens and dozens of your clients get off the hook for tax evasion. it just kind of seems inappropriate and there such a thing as a chinese wall for a reason. >> that's right and i think the other thing trish the fact that they are raising so much revenue while she was secretary of state for foundation and a drop to 26 million. clearly donors decided no gain some are they going to pay? the biggest question isut do we believe their institutions and individuals who are too big to fail or do we believe in the rule of law and this is the big question. i truly believe the clinton foundation is a charity fraud. people go to jail for charity fraud or congressman -- just got 10 years for charity fraud. trish: listen if in fact it is or was than they deserve to pay the price for a pretty hairy on the timing and everything mall

the top of a minnesota skyscraper ...became a viral sensation in 2018the critter was spotted scaling ubs tower -- one of st. paul's tallest buildingsthe little daredevil stopped short of the top -- taking a siesta outside the 23rd floorwhile the raccoon rested, the internet went bananasin no time, the furry free-climber's story was a top trending twitter topic later that night, the raccoon made it to the top...where animal control officials were waiting to trap, feed and safely relocate ...the furry little hero that 2018 needed, but didn't deservein atlanta, i'm jeremy roth jeremy roth (anchor) (anchor) taking a live look outside... our sutro camera overlooking downtown san francisco. (anchor) time now to check on our weather... with chief meteorologist lawrence karnow. it was a beautiful cool day around the bay area. tonight will be cold with a chance of patchy frost. lows will be in the 30s and 40s. on the satellite you can see a weak cold front headed toward california. high pressure will build in behind it making for some gusty winds. highs tomorrow will be in the 50s. windy weahter

ubs is on bar with that.nd growth we see 25% earnings expansion this year. we're looking for five next year but there are heavy things from geopolitics to trade to china weighing on the market and until we have clarity around these things i don't think we'll sustain anything. >> let's talk about clarity this week, larry. the president is out tweeting again about the fed that they shouldn't raise interest rates with a strong dollar and the global economy how it is if the fed goes against what the market expects and does raise interest rates, how would the market take that >> it's fourth and goal. fed chair powell has the ball. this whole market comes down to what play does he run here but we need to acknowledge the elephant in the room they're clearly that the conspiracy theorists are in full force. the doomsday profits are out in full force even ron paul, the world is going to come to an end here and what's important when we think about the fed and how this weekends up, think about how we got here we got here

equity strategy at ubs and jill hall. jill, you're productive, you like the markets into next year.s news like this and market reactions that we've seen over the last few days give you pause on your optimistic outlook >> well, i think some of the biggest overhangs on the market are trade uncertainty which will have an impact on corporate profits and overall market sentiment if we don't see a resolution we are constructive on equities in the near term since we think there's still room for improvement in equities sentiment, the fundamental backdrop has been good corporate guidance and earnings have been strong and valuations have come down to more reasonable levels but we do see risks looking out into next year so we have a 2900 target on the s&p 500 for year end but we do see risks that the market peaks some time next year at around 3,000 and our highest conviction call is you want to position for more volatility so we haven't seen the level of volatility for much of this cycle that we're seeing recently you haven't seen this amount of 5% or 10% pullbacks so we think you want to posi

talked about the speaking fees her husband received that coincided with the state department letting ubsents off the hook for tax evasion. you pay bill clinton one big check and mysteriously dozen of your clients get off the hook for tax evasion in it seems inappropriate. there is something known as the chinese law in some households for reasons. >> the fact they are raising so much revenue while she was secretary of state for the clinton foundation and last year dropped 26 million. i think the biggest question of all this is this. do we believe there are institutions and individuals who are too big to fail or do we actually believe in the rule of law? this is the big question. i believe that the clinton foundation is a charity fraud. people go to jail for charity fraud. congressman steve stockman got 10 years for charity fraud. trish: if in fact it is or was, then they deserve to pay the price for it it's been out there for so long. i have covered some of these cgi events, and then the international one they hold in new york city and i'm always truck by how much sort of other sort of sk

we bring in former ubs america ceo robert molson for analysis. the fed.erday during this hour, news breaks, the "wall street journa journal", it hits the tape the fed is going to change its language from yep, we're doing gradual rates, no worries, to now we'll shift to a wait and see approach. >> you know, i used to like it when they only spoke quarterly or when there was a rate situation. they seem to be a little bit all over the place. it feels to me they will still do their fourth rate hike come on the 19th, and that would have been the fifth in the last i think five or six quarters. the real question is what does that mean going forward. well, you had a bit of an inverted yield curve last week which all of a sudden says, you know, do we have a recession on the highway. liz: st. louis fed president john bullard came out today and said the inverted yield curve is the market telling the fed it's gone too far. that's a pretty strong statement for a fed president. >> yeah, i'm not buying that statement, although i do think we did not see this lack of what

ubs spoke to 200 chief financial manufacturers. the bank says the 90 day trade truce will be merely a temporary respite. the italian prime minister has taken a revised budget proposal to the european commission. e.u. officials say no agreement is imminent. they agreed on a new package to center brussels after accusations their original proposal would rake spending regulations. they held talks on monday but were told no agreement will come before tuesday at the earliest. 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 jessica summers. this is bloomberg. haidi: thank you. concerns over growth, trade tensions, geopolitics, all really weighing on global markets. let's see how australian markets are faring, sophie. for australianf market. bonds climbing for a third session. the aussie dollar not too far off from the low. session low.t one bright spot are gold producers tracking the haven demand for bullion. laggards,ding the tracking the we

keith barker of the ubs. it's a tresh rouse time to be a u.s. equities strategist. >> yes. >> having to put out forecasts, right. >> but who better nan a guy like keith parker i was going to ask him -- we goodbyed the guest. >> i clearly said goodbye. >> so i'm not bringing him back? >> thank you. >> with we might see 3,200 where do we go first i think steve submits we re-test the lows 25, 30. i think a reasonably chance. pete najarian said last night and i agree. volatility is too cheap in the environment. and dan would agree. this is not political comment but i don't think this is pricing in something out of the mueller investigation. not political. but it's definitely hanging out fl. >> do you think we test february lows by the end of the year? >> yes i would like to see them tested the only pr problem you have with testing by the end of the year. >> three weeks for 100 points on the s&p. >> any buys off off shut downs with goodbyes. you want to buy that the problem i have with test something not the time frame it's just that people take off

the head of european investment over at ubs.ve just been hearing from in terms of their position on exiting opec. let me bring in my next guest. oil is below $53 per barrel, uncertainty lingering around the whole of the market. on the rooftop here in vienna. good to see you this morning. the russians are on board, but we don't know the size they are prepared to chip in for. is that the burning issue? >> i think that is one of the burning issues. i don't think that is insurmountable. i think we can get to that. there is not that much of a difference between what russia has said, 150,000 barrels, versus what opec is asking for, which is slightly higher. the bigger question is we have seen the tweet from trump. what is he going to say if there is a cut? minister hastari said the market is oversupplied in his personal view. how much oversupply do you think there is? amrita: if you look at the kumar -- q4 numbers, the market is not oversupplied. however, i think if you look at q1 and q2, that is one refinery maintenance pick up, it c

analysts at ubs said in the year ahead, demographicme funals of an aging population still favor device makers. the continued expansion of medicaldvantage bodes well for the health insuranceector ich has held on to the 4% gain for the year. but the legal challenge to the affordable care act can hang over them like well care which t has lost ard of the value in the fourth quarter. the trump administration's proposed rules on medicare drug pricing will pose a majoread wind for drug makerin 2019 like regeneron. the maker of high priced eye treatment which could see reimbursements sk shed. biotech sector is down 14% for the year. but b contrast, traditional drug makers have held up relatively well durthg the fouarter pullback. as investors have looked to traditional safe havens. sort o rejuvenation of that with the breakdow in the market. again with that potential sort ofoost to defensive posturing, at least the pharmaceutical p stocks should tty well inflated in environment. at l from a technical standpoint. >> merck and pfizer are the dow industrials' best performers lds no doubt king the

the top of a minnesota skyscraper ...became a viral sensation in 2018the critter was spotted scaling ubsildingsthe little daredevil stopped short of the top -- taking a siesta outside the 23rd floorwhile the raccoon rested, the internet went bananasin no time, the furry free-climber's story was a top trending twitter topic later that night, the raccoon made it tntrol officials were waiting to trap, feed and safely relocate ...the furry little hero that 2018 needed, but didn't deservein atlanta, i'm jeremy roth> ( will ) ( will ) coming up on the kron 4 morning news ... christmas is not just a holiday on earth... they're also celebrating up in the international space station. ( darya ) and then... we'll let you know how much is up for grabs in the mega millions drawing tomorrow night. (á2 shotá)( darya ) we're all ( darya ) we're all short on money right now --- after spending money on gifts, travel and food this holiday season. well you have a chance to make up for all that spending tomorrow night.( will ) the jackpot now stands at 320 million dollars. there have already been 5 jackpot a

. >> fellow dow xenoen coke downgraded from neutral to buy at ubs. the analyst says the many changes that the company's raising the risk for coke's growth ictargets. target now $51 and the shares rose nonetheless to $49.47. >>> marvel tech w upgraded to buy from neutral at citi, the analyst sees the margin expansion at the company. the shares rose 15%o $15.65. general electric was upgraded to neutral from underweight at jp morgan. the analyst removed the shock from the short idea focus lis saying g.e.'s challenges are better understood. the pris target which is $6 which despite the upgrade is the lowest on wall street. shares gained% to $7.20. morgan brennan takes a closer look now at this call and g.e.'s latest restructuring move. >> wall street's biggest bear called a bottom on g.e. shares. jp morgan analyst grading g.e. to neutral from underweight but keeping the $6 price target the same. upgrade is significant. since the analyst was the first to call g.e. into question. downgrading the name n may of 2016 when it was still a $30 stock. since then

video you can see his dog wally was attached to halas kichlt through the three-minute beating but was ub harmed. halpin grew up in this quiet cul-de-sac in sunnyvale. neighbors describ h very helpful teenager when he was here but hasn't lived full-time with his parents for years. lapd detectives say halpin may have been under the influence of drugs or suffering from mental illness but people who live on this sunnyvale cul-de-sac say they weren't aware of any mental health issues. in sunnyvale, sergio quintana, nbc bay area news. >> that is disturbing to see. thank you, sergio. >>> just in to our newsroom, a two-year investigation leads to an organized crime bust in the south bay. sjpd arresting these four people last month. but just making the announcement tonight. they were allegedly manufacturing and selling drugs across the bay area and even transporting them across the country. more than 800 pounds of marijuana was recovered in this bust along with several other drugs and some weapons. warehouses and n. four other states were also raided. >>> a deadly shooting involving a sheriff's d

the top of a minnesota skyscraper ...became a viral sensation in 2018the critter was spotted scaling ubs st. paul's tallest buildingsthe little daredevil stopped short of the top -- taking a siesta outside the 23rd floorwhile the raccoon rested, the internet went bananasin no time, the furry free-climber's story was a top trending twitter topic later that night, the raccoon made it to the top...where animal control officials were waiting to trap, feed and safely relocate ...the furry little hero that 2018 needed, but didn't deservein atlanta, i'm jeremy roth> jeremy roth> in atlanta, i'm jeremy roth> ( will ) as we head to break, here's a live look outside... san francisco international airport. (ácommercialá) (áábreakáá) youand the holiday spiritoss just hits you... yes! or when you get the best deal... on a treat for your best friend? or when you score a magical gift... at an unbelievable price? with gifts you'll love to give. and it feels even better when you find them for less-at ross. yes for less. (áábreakáá) ( darya ) coming up in the next hour ...king tides are rising around the

credit suisse wants a further 26% of ubs securities, to take the interest of 51%.underlines a long-term commitment to china. jpmorgan and nomura are also seeking control of joint ventures. david: the white house is china would consider qualcomm's $44 semi.n bid for xp qualcomm scrapped and after a two-year wait for approval. chinese regulators declined to clear the deal. although beijing later expressed regret over its collapse. ipone: pushing ahead for an in the you -- in the new year, the final decision on listing will be made by the government in hanoi. plans coming to market by the middle of 2019. japaneselet's look at equities as they had to their lunch break. we've got a yen unchanged. up, not quite as much as the rest of the region. up by 1.5%. mitsubishi motors on the upside as well. abead mr. macron and mr. talking on the sidelines at the g20 summit. macron telling his japanese not hisart -- counterpart because one is a president and the other is a prime minister -- but anyway, the alliance between mitsubishi and renault, continuing to make sure that it wo

ubs going as low as 205. vonnie: fedex has taken the mantle of 3m for bellwether.anley called it jarring. year?e see this, next >> the comment they had on the call, they had not only fred smith, but the cfo and the new head of the air freight express division saying, the people global economic growth appears to be behind us. there was a lot of stark language are. basf economic bellwethers, , they talked about the weakness overseas and fedex has made it clear to investors, don't expect too much. they are guiding investors much further down than three months ago. not fedex,g story is not the big story is this is another indication that the global economy is slowing. if i am running a macro book, i want to pay attention. >> that is why you are seeing the reaction. ceo, one of the first big ceos to criticize the effect of the trade war and that appears to be showing up in earnings we saw today. the earnings forecast. vonnie: thank you, that is romaine bostick. despite of the fedex miserable performance, down 10%, u.s. market indexes higher by close to 1%. s&p 500, ge i

a guy who wores uniform, that is ub usual in that position -- bureaucrats do great, robert gates of a of defense, but, his don't understanding of the region that we're talking about,iesque --icd his president, don't be mattis. don't speak in one liners, mattis is a different cat, never been married, a warrior monk. >> brien thank you. >> merry christmas. >> to do you. kennedy: as. he is following through on what he promised. will the help him with his base ear coulor could it backfire. our panel is here. jimmy phalen is back. and welcome back. >> hello. kennedy: so, katy. i have a family member who is conservative. and disappointed in this move with syria. >> well, i think it depends on the results, president, is following through on a campaign promise. he is used to do it that. but if isis regains a foothold in syria. kennedy: what is that prob probability. >> i think high. i give president credit today saying we have 5,000 troops we're not pulling out, we'll be here in isis has a resurgences, we'll attack from here. next door. that was good. this just was like, we're getting out, we

. >> on a day we get this, you get ubs trimming their target from 12 to 13.ou think there is consensus building here in the single digits tusa does have down side risk. >> he is saying that they do not have the horses, is the way i look at it. they are not as good as the other industrials that he follows. it is discounted and they do the equity deal. this is where we differ from the bulls. therefore it shouldn't be in the double digits. there was an overwhelming fear that he would let this thing go to two or three and then it would be past time. the fact that he went to the devils numbers 666 and upgraded it shows me the tenacity that this man had, that he knew he did not have the $100 billion. it's a liability number. that's a lot. culp is confident and has a path. look, if you were short you would cover. if you own it you would not sell it. >> if you don't own it. $7.54. this thing is up from the low. i think america wants that deal. america would like to buy that deal. it would solve a lot of problems. i worry about long-term care. i don't think anyone can

the top of a minnesota skyscraper ...became a viral sensation in 2018the critter was spotted scaling ubsaul's tallest buildingsthe little daredevil stopped short of the top -- taking a siesta outside the 23rd floorwhile the raccoon rested, the internet went bananasin no time, the furry free-climber's story was a top trending twitter topic later that night, the raccoon made it to the top...where animal control officials were waiting to trap, feed and safely relocate ...the furry little hero that 2018 needed, but didn't deservein atlanta, i'm jeremy roth ( darya ) darya adlib ( darya ) jeremy rothin atlanta, i'm didn't deservein atlanta, i'm jeremy roth ( darya ) darya adlib big board. ( will ) ( will ) coming up at 7 o'clock... changes are coming to your taxes... and experts say if you don't prepare it could be costly. temperatures dropping a touch today taking daytime highs down into the mid to upper 50's with clear and dry skies overhead. windy conditions will be seen through the course of the day with winds gusting as highs at 20-30 miles per hour through the day and into the evening.

talked about the speaking fees her husband received that coincided with the state department letting ubs hook for tax evasion. you pay bill clinton one big check and mysteriously dozen of your clients get off the hook for tax evasion in it seems inappropriate. there is something known as the chinese law in some households for reasons. >> the fact they are raising so much revenue while she was secretary of state for the clinton foundation and last year dropped 26 million. i think the biggest question of all this is this. do we believe there are institutions and individuals who are too big to fail or do we actually believe in the rule of law? this is the big question. i believe that the clinton foundation is a charity fraud. people go to jail for charity fraud. congressman steve stockman got 10 years for charity fraud. trish: if in fact it is or was, then they deserve to pay the price for it it's been out there for so long. i have covered some of these cgi events, and then the international one they hold in new york city and i'm always truck by how much sort of other sort of sketchy folks

that is the problem, kind of talking this morning on television with ubs's jeff, maybe it is how another crisis before europeans are bold enough to take the next and advance their banking union. unfinished, past 20 years 114 against the dollar. you know, held together. symmetry involved in all of that. i guess it depends where you are starting from. you start in greece, probably looks good. if you are germany, looks pretty bad. sorry, looks pretty bad. germany looks pretty good. was this correct? paul: i think what is interesting, if you look at the winners and the losers, that quarter really has een like most help germany biggest winner of the euro project. but also the eastern european looking at savannia had nice ride. italy and spain, biggest conomies in the region haven't managed to gain anything in particular from better trade. say, from you came in at the wrong level or wrong still the thing, problems to sort out. had related at we o european debt didn't help markets in particular. another reason to be skeptical region mistic about the next year. guy: yep, next crisis could be for

ubs did business with donald trump. were talking about today, did the inauguration committee do something illegal or not? let me just finish. >> there's nothing wrong with spending money at his hotel. >> am i saying anything is wrong with that? i'm saying that's what they're looking at. >> laura: you raised it many times. >> i raised it because it was on the front page. >> laura: how'd that happen to come out given the fact that the inaugural committee itself -- they've never heard of any investigation. they haven't been asked for documents and haven't been interviewed and suddenly this is leaking out of the southern district of new york. they are the most leaky federal prosecutor office in the countr country. >> they were outside my office for five years. >> laura: stephanie walcott, her company was paid a lot of money. she made good money off of the inauguration. the ghoulish manner in which democrats and the media are using the tragic death to tar the president, the latest border manipulation is next >> laura: the tr

ubs director of floor operations steve's data mixes in with what we got from bull, bear ratios last nightt? >> that's correct. a little bit of anxiety and concern. i think as you aptally lly ment the challenge is to meet and surpass yesterday's highs. until you get to that, the market is kind of a yawn that's 24830 in the dow, 2685 in td s the s&p. >> do you think the way to characterize is a sell to rally, given what we've seen today, we are off highs for the dow already. >> we've seen a pattern that you see strength earlier in the day, and seems to fade as you get toward the close not consistently, but if you're looking for patterns, that's as close as you come to one i think it is there, but volatility has been extraordinarily sharp. you're seeing some signs that can accompany an extended bottom, but i want to see volatility calm down before we take big jumps here. again, it is simple stuff, folks. you look at yesterday's high they've got to get to that and get higher otherwise, you have a pattern of lower highs. and that doesn't help when you try to invest. >> how muchgeopolitical imp

ubs, you know, did business with donald trump. we're talking about today and we're talking about did the inauguration committee do something illegal or not? >> there's nothing wrong with him spending money at his hotel. >> am i saying anything is wrong with that? i'm saying that's what they're look at. >> laura: you raised it many times. >> it was on the front page of two newspapers. >> laura: the inaugural committee itself, they never heard of any investigation. and suddenly this is leaking out of the southern district of new york. that is the most leaky federal prosecutor office in the country. >> they are outside my office for five years. i'm with you. >> laura: stephanie's company made a lot of money off that inauguration. thanks so much. up next the goalish manner in which the democrats and the media are using a tragic death to manipulate. ♪ you think you've seen everything? ♪ let's talk about that when you get here. ♪ the united states virgin islands. unstopand it's strengthenedting place, the by xfi pods,gateway. which plug

. >>> every year, ubs director of floor operations joins bob pisani for a conversation about his outlookpisani is on the floor with what art says 2019 has in store for us. >> mike, i have been with the him at the bar doing this more than a decade, reflecting on the wild year that was, looking ahead to 2019. art and i agree the big story for 2018 was return of volatility here's some of art's thoughts on what's in store for 2019 first on the fed and rate hikes, none >> i think perhaps the fed will not hike ever again in 2019. if you go back and look at what i said, both in our interview and with you time and time again, i have been a bear on yields i think the fed is somewhat misreading what's going on yields are not going much higher, and there's an outside chance they cut before the end of 2019. >> on the stock market in 2019, expect a bumpier ride. >> yes, i think it will be very volatile and for the first half probably flat to down as the fed and others grapple with what they want to do. >> next on tariff and trade wars, art thinks the president may walk back tariffs, but long term tra

ubs chief u.s. economist there. facebook under fire.hington calls for new rules and regulations. that is ahead. this is bloomberg. ♪ this is bloomberg. ♪ caroline: the new york times reported facebook has allowed hundreds of companies access to it users data. the district of columbia sued facebook. maddie patsy joins us now from boston. you are a shareholder in facebook. is this coming home to roost? do you think they will make the changes necessary to start to make users and investors comfortable with their level of privacy? >> we are certainly hoping they will take action. this has gotten much worse than we thought. level of the privacy breaches and recent news of the fact that they were continuing to sell personal data to amazon, microsoft, and other tech firms is new information. certainly the aftermath of cambridge analytics in the lawsuit we just saw today from the attorney general from the district of columbia was to be expected that we would see some action taken to respond to that breach. at their being corrective action taken

it will reduce costs for ubs fulfilling strict privacy rules. your latest bloomberg business flash. coming up, what is on the wall street/d.c. wishlist? that's next. this is bloomberg. ♪ vonnie: for wall street lobbyists, december is prime time for holiday cocktail parties and last-ditch efforts to win favorites from lawmakers. street-d.c. wall wishlist. jesse, i imagine there are holiday cocktail polities -- parties galore the next two weeks. as you know, congress is debating the year-end spending bill. for lobbyists, it is an opportunity to get christmas ornaments attached to the bill, things like the volcker rule, swaps rules that will cut the amount of money that banks have to put aside as collateral. they are hoping to slip a few things in unnoticed. derivativesof these capital, the volcker rule, the jobs act, give us the headline points from those three wishes. rule, as itvolcker is, it is a very copulated realtor a regime where you have five agencies, the federal reserve, the sec, others having jurisdiction in enforcing this rule. banks w

some comments from at&t ceo randall stevenson who criticized the streaming service's strategy at the ubsedia and communications conference julia boorstin is with me here at one market for more what's the takeaway here >> i think randall stevenson said netflix is more like walmart, it's a place that's a mass aggregator of content but not necessarily premium. they will launch in about a year they're not going head-to-head with netflix take a listen to what he had to say. >> the goal of warner media and steinke is not to create another netflix or a direct to consumer product that rivals netflix in terms of being a warehouse >> and he did specifically say that netflix was like walmart. >> now, okay, this reminds me of the albanian army comment. when i think of what's driving netflix from their messaging, the data we've seen it's not being a warehouse of everything. it's more the original content and the ability to share everything that netflix is doing pretty much globally it looks like at&t and maybe some of the other traditional players have ties. >> it's true that at&t can't go global rig

the top of a minnesota skyscraper ...became a viral sensation in 2018the critter was spotted scaling ubsower -- one of st. paul's tallest buildingsthe little daredevil stopped short of the top -- taking a siesta outside the 23rd floorwhile the raccoon rested, the internet went bananasin no time, the furry free-climber's story was a top trending twitter topic later that night, the raccoon made it to the top...where animal control officials were waiting to trap, feed and safely relocate ...the furry little hero that 2018 needed, but didn't deservein atlanta, i'm jeremy roth (grant) now to our four zone forecast... as we take this live look outside at san francisco... joining us now is chief meteorologist lawrence karnow... lawrence lawrence karnow: it was a windy day around the bay area. blustery winds made for a cool day. the doppler radar is showing mostly dry weather across the state. on the satellite you can see the high pressure building along the west coast while low pressure sits over nevada. the difference between the two is causing some gusty winds. tonight will be mostly clear an

the dow is now up a little over 200 points joining us, ubs director of floor flagsoperations, art cashn >> thank you good to be here. the market is at a critical area i think world events kind of creep into this. the president out of respect for the late president bush has limited his tweeting and commentary and said he was not going to tell people highway great the deal he struck was until after the funeral. so we're lacking some pieces of information, and we're also not getting a lot of clarity on the chinese side they're not being forth wit either this partly short coming and partly changing risk profile you could see friday an unchanged official was quoted by reuters saying some progress was made, off we went to the races. >> it is almost a kicking of the can in terms of tariffs increasing to 25%. yes, it buys more time do you think it is digestion of the fact there's going to be uncertainty as talks continue to happen and that's what's being absorbed in the markets now? >> yeah, i think the markets are beginning to reflect it. and the other thing is that while he has signed the the

ubs, 3150. a 17% be gain from the close today. jp morgan, 3,000 bmo, 2950 opinion. and the leet bull sish goldman expecting the s&p to close at 2850 but even that is a 6% gain from today. 2019 is a bit more problematic you remember michael wilson, the morgan stanley chief strategist he made waves by calling for the s&p 500 to end 2019 at 2750, just barely above where where o we close today. >> bob thanks so much. bob pisani new york stock exchange because there is a discrepancy on what people think earnings are going to be. >> right its consensus is about up 7% for sout there's been people dialing it back you have to. and the relatively basis is here is also to what extent is guidance changed dramatically from when the 7% was set >> our next guest has ha 2018 year end target of 9112950 10% away from that level now now he says the santa rally is dead on arrival. let's bring in chris harvey. >> dead santa. >> at wells fargo. >> thanks for being here. >> i wouldn't say it's dead and arrival. but earlier today is looked like christmas was cancelled and santa was caught

and maybe find you ways to make money or save money are joe terranova, and rob chan of ubs private wealth management. and also joining us from boston, is carrie firestone, ceo of oreus asset management and carrie, we'll start off with you. i'm sure none of your clients has called you at all in the last couple of days, right i mean nobody has emailed or called so can you help us understand these crazy record-breaking market moves >> maybe not. >> you know, the question was so good -- you nearly completely -- it was like this carrie firestone, are you there now? >> yes, i can hear you >> what i was saying, i'm sure you've taken no calls from any of your clients over the last couple of days at all. please note the sarcasm. how do you explain to them, these crazy record-breaking market moves >> well, the market started to move down in september, so we've gotten conditioned and our clients, i think have heard from us a couple of times. about what to expect in markets that seem to be fallen and this one, has fallen to the level that i've got to give it credit i'll call it a bear market 19.7% ro

justice were looking at the president for months, and they must have been extremely nervous, unfor -- ub comfortable at the fbi to take this step. that's a huge step. >> it is a huge step. it underlines the magnitude of how disturbed people were by what the president was doing. comey has testified and written about this in great detail about all the pressure he was getting from the president, you know, demanding loyalty, go easy on mike flynn. it was wildly inappropriate. comey knew it and the other people at the fbi knew it. all of us have heard about it for so long, this is old news for us now, but the magnitude of it is still worth dwelling on, it was really bad what the president was doing and they all knew it. >> michael? >> i would say, look, the facts here have been known for quite sometime, since february of last year, and what is stunning to me is here we are, you know, nearly two years later and we haven't had a full airing of what happened. you know, this is a subject that congress should have taken up in public long ago with open hearings, with the key witnesses testifying be

banks like ubs and morgan stanley and citi and goldman sachs see as many as two or three increases on the hawkish end. barclay's and j.p. morgan are forecasting still as many as four rate rises in 2019. i want to bring in bret ewing, chief market strategist who joins us on the line good morning you to, sir let's just talking a little bit about today. what is interesting is actually if you look at the data, everything is proceeding in line with the fed's own expectations of where growth should be. so if they don't hike today or if they sound extremely dovish, are they not sending the signal that in reality what they're concerned about is financial instability and price in stock markets? >> yes the way we look at it, really we don't feel there is any reason to hike today. i think the fed has put themselves in a box and guided the market into this hike. but when you look at the inflation numbers here in the united states, they've actually been moderating here for the last four, five months we feel that price stability should refer to more inflation than financial markets but, look, we're

gary is a private wealth adviser at ubs financial services in denver and sandy is an eids lean this familyp pay their own way. >> you want to get, but sometimes giving them isn't actually helping them. our job is to help them, not do it for them, right? >> reporter: with kids, a life-long lesson in budgeting and money discipline can start with simply buying one box of oreos a month. >> you're welcome to eat them all tonight or you can allot them out and learn to make them last until the next time we go buy the next box of oreos. >> reporter: this isn't even about money. it's about a concept. >> it's a concept, yep, of saving, of budgeting, of understanding that feeling of delayed gratification. >> reporter: when 16-year-old kyle wanted to buy the family car, he paid for it by maintaining a $1,000 a year high school academic scholarship. >> i think the lesson was, regardless of the money that it's -- if you work hard for something, then you will be rewarded, whether it be by some physical thing or some emotional. you'll be rewarded for hard work. >> reporter: as he does part-time jobs for a

matt: sticking to the market perspective, a lot of people had suggested, including paul donovan from ubsld getails plunge inmarsat -- market assets on december 12. is since wondering now we know the likelihood this deal doesn't get past his high, has the market plunged already and could we get a negative vote on december 11 and not see absolute armageddon on wednesday the 12th? michael: i think the latter. if you had asked me a week ago, we could have seen a significant plunge in sterling. equity markets because if you are looking at the ftse 100 and ftse 250, they are more synchronized with the global economy. pound, the the probability of a harder brexit, which is starting to get priced dip you might see a brief in the pound, but i would suggest the possibility of a hard brexit has been priced out to a certain extent. it is unlikely to happen. the big question is, what is going to happen next? i have no idea because i think the deal could well fail. what do mps have as a possible alternative? at the moment, there isn't a majority for anything in the house of commons. anna: it seems unc