. ♪ ♪ york, i'mve from new vonnie quinn.nd i am mark barton from bloomberg's new european headquarters of london. this is "bloomberg markets." futures in focus -- oil slipping from its highs in more than two years before the opec meeting. gold is gaining is republicans are awaiting votes on the u.s. tax bill. vp.ing us to discuss is the this opec meeting, is it done and dusted? will we see an extension of the production cuts? do you have some doubts? >> i don't think there is any doubt. i think what we are hearing is there has been an agreement, a handshake, and they are hammering out the details. when you see what oil prices have done, they had been trending higher, exactly what opec wants and exempt he was the non-opec members like russia wants. they want higher oil prices so they can turn around and flip it. and how much can the u.s. offset it? the rising demand we are seeing is taking care of that for opec. you will see oil prices a send until there is an event that causes a reversal. front, we areold hovering below 1300

vonnie: i'm vonnie quinn, and this is "bloomberg markets."y is in brussels trying to unlock the stalled brexit negotiations. she is meeting with e.u. president donald tusk on the sidelines of an you summit. this is happening weeks ahead of a crucial au summit in mid-december to decide if the negotiations can move on the talking about trade. for details, let us go to an editor for bloomberg news in brussels. willit look like ms. may push the ball forward today? friendly, have to say it is not clear at this point. the e.u. has said that they need something concrete from the u.k.'s side in order to be able to deem that sufficient progress has been made, and then move the talks on to talking about trade. theresa may has been pushing back against this, calling for flexibility and imagination on the you's side in terms of -- and imagination on the e.u.'s side. this will be determined in mid-december. we are not sure what theresa may will put on the table today with donald tusk. it may be a general discussion about where the two sides stand. four th

i am vonnie quinn. julie: i'm julie hyman info shery ahn.loomberg markets." ♪ from bloomberg world headquarters in new york, go to top stories in the bloomberg and around the world that we are following. cyber monday is in full swing and stocks are admit securities as investors focus on the busy week ahead, particularly for fixed income. the koch brothers are back. meredith corporation is all ofng time inc. and its brands for $1.8 billion in cash. more details a little bit later. past $9,000. blows the cryptocurrency showing most no signs of slowing down. is it just the beginning or the bubble about to burst? all that in the next 60 minutes. abigail doolittle is with us

i am vonnie quinn. shery: and i am shery ahn. welcome to "bloomberg markets." bloomberg will that headquarters in new york, here are the top stories on the bloomberg and around the world. u.s. stocks a late lower now after headlines about senator edges the senate tax bill will delay corporate tax rate cuts until 2019. in china, president trump pins the trade deficit on predecessors. he says the trade between the u.s. and china has not been fair. and capital yields, one-on-one with senator mark warner of virginia. what the senate intelligence committee chair has to say about the latest in the russia probe and the latest senate tax bill. julie hyman is with us. we are halfwou

nejra: i'm a rich age with vonnie quinn.es finish up the day -- i'm nejra cehic with vonnie quinn. equities finish of the day, with the genome function set to western europe. broad-based losses across equities. the dax and the i-40 also for the worst week since august. the ftse 100 off by .7%, the euro stoxx to see -- 50 down. we are nothing the depths of the losses we saw yesterday. those declines are pretty much as broad-based as they were history. sterling on the front foot, .5% 13209, sterling hitting the highest level since the dovish hike. , 11661. up from cable, it seems like a bit of optimism perhaps over the developments with the brexit talks, even though the eu floated the prospect of no deal. we have data out of the u.k. that's giving reports to sterling. higher, bothving in the core and the periphery. the looking deeper into the equity markets and the distribution around the industry groups as we are closing at the session here, you can see the losses were broad-based across industries and regions, but also acros

vonnie: i'm vonnie quinn. this is bloomberg markets.oments away from oil surveys in the united states, calling for a slowdown 1.4 million barrels. oil is higher today ahead of the release, and we want to get all of the numbers. we have julie hyman here, and we are still waiting? julie: no, 1.9 million barrels is the drop we are seeing in the inventory. not as steep as the $6 million drop thaton barrel was reported last night, but it looks like most of the drawdown is happening in oklahoma, there it is about 1.8 million barrels. a smaller than estimated increase in gasoline inventories of 400 44,000, and an unexpected raise -- rise, in distillate inventories a 69,000 barrels, a -- 1.3n of one million barrels was estimated there. it is possible we could see a leg down in oil. for a look at the bloomberg our oil charge. you can see the take by take more precisely. we are seeing oil up on the day substantially, up by 1.25%, but a bit of a leg down in reaction to these numbers. we will see how it shakes out as we look at some of the other va

vonnie: and i'm vonnie quinn.- a oil spill is a risky venture to some, but the payoff can be enormous. in a special report, the neck shale revolution qamar alix steel talk to a continental resources chairman and ceo on wildcat is took on drilling. >> we had used kind of a pump and pray method. >> herald and the other while the -- herald and the other wildcatters -- >> released a quarter of a million acres, a bit this was going to happen. >> now, his portrait hangs in oklahoma's hall of fame where he is called the great american wildcatter. but back in the 1990's, no one was buying in. >> it was hard to get the market to believe what we were doing. >> in the 1990's, the oil and if it out of a terrible crash, and shale drilling was a money pet. most producers would not touch it, but harold but it may work. >> that is why we want to the rockies. that being primarily north dakota, montana, wyoming. >> so, do people think you were crazy? >> pretty much at that time. fat, a lot of the operators -- in fact, a lot of the

vonnie: from new york, i am vonnie quinn.a look at the biggest business stories in the news right now. investor bill ackman has lost his bid for board seat at adp. theshareholders rejected slate after a hard fought battle. capital ising looking for good news after losing billions in valeant. toyota took a 50% market share in the u.s., bigger than ford -- took a 15% market share in the u.s., bigger than ford's. broadcom is ready to go hostile for the record deal. broadcom is prepared to launch a proxy fight if qualcomm rejects the biggest tech deal. that is your latest bloomberg business flash. gope speaker paul ryan and leadership are holding a news conference on their tax cut and jobs act right now. you can watch that affect on the bloomberg. just go to tv . you're watching "bloomberg markets." retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consis

imf on vonnie quinn. ink: i am mark barton london. the u.s.reme court has mp -- appealung's in a patent infringement case involving apple. apple $120ded million in damages. last year, the supreme court ruled in samsung's favor. at the top of the health insurance anthem, the chief is stepping down. he will be replaced by gail. it would be the biggest technology takeover of all time. broadcom offering to buy qualcomm. the cash and stock offer represents a 28% premium to closing price. it would make broadcom the world upon third-biggest -- the world's third-biggest chipmaker. for more on that, let's our analyst. toqualcomm better positioned stay alone? ip package.ty does it need qualcomm more than qualcomm needs anybody? ip package. >> they have a whole host of problems. they have escalated litigation broadcom maywhere be able to have a better relation with apple and deescalate the situation. they will have a better way to business and have it be more efficient. the combination makes sense, but it creates the li na. enoughit creates a boat bohemo

i am vonnie quinn. sherry: i am shery ahn. een on a downward spiral with sales in stores declining, almost plunging and the market value down about two thirds but the involves playbook doing away with long-standing practices. we are joined now by a bloomberg reporter. it is a whole different model. >> they are trying to change it and updated. the changes are things that a lot of retailers have argued done, so they might be clothingnding, underperforming locations, trying to be customer friendly, but they need to make some big changes and they need to try anything they can and they found themselves in this position because they made a lot of acquisitions. they are this behemoth created out of regional department stores, five pounds ago. it is huge. it has more than 700 stores and their closing 100 but that is a small number of stores they need to close. that alone is part of changing your model. sherry: they have a convoluted history. they started as a dry goods emporium or something like that. lindsay: the original one was a dr

i am vonnie quinn and this is bloomberg markets.ments away from the release of weekly crude oil in the united states. the survey is calling for a call down of barrels. they have been hovering around $57 a barrel, trading below that now. we will get to julie hyman. julie: it is about the same size as the drawdown estimated, 2.2 billion barrel increase in inventories and cushing oil, as well as 725,000 barrels. there was a drop in distillate inventories, which might help offset the negative effect from crude inventories with a drawdown of 3.3 million barrels and distillates of about the same size. on the one hand, a big build, much bigger than expected because a drawdown was expected, but that drawdown in gasoline at the moment doesn't seem to have a mitigating affect as oil trades about .75. you will see if it shakes out in the next half hour or so, as it usually does, as people take a step back. we have seen a downtrend in inventories and uptrend in oil prices but we have had oil strategists say this rally that we have seen might ha

i'm vonnie quinn. julie: i'm julie hyman. ie: countdown to the fomc meeting, which could be one of janet yellen's last at the helm. the drama of who will lead the central bank, few surprises are expected today. expecting ae message of see you in december. .oining us now, austan goolsbee you,time we spoke to predictions were saying something different than it is now. who do you think will be the next fed chair? it seems like powell is going to be the next fed chair. i thought it would be unlikely donald trump will choose janet yellen, to reappoint janet yellen for another term. it doesn't feel like he is going to do that. vonnie: if it is powell, how do path wille the hiking progress the hiking path will progress next year? still an expectation fourth three rate hikes? austan: i have been skeptical that it would support the rapid rises to interest rates. it hasn't supported it. are growing a we little faster, but for the year 2017, it is not going to look over all that much faster growth and it has for the last five years. i wo

i am vonnie quinn. shery: i am shery ahn. oomberg markets." ♪ vonnie: from bloomberg world headquarters in new york, here the top stories on the bloomberg and around the world that we are following. activist investor bill ackman failed in his bid right now at ats at adp.t se what it will mean for adp and for bill ackman. he joins us in a few moments. president trump continues his tour in asia and sends a message to kim jong un -- come to the table and do a deal. tax reform front and center on capitol hill as house republicans approved last-minute changes to limit the carried interest tax break. a look at what is an and what is out as the debate heats up. let's check in on the first word news. mark compton is with us. mark: president trump calls north korea a

vonnie: and from new york, i'm vonnie quinn. this is bloomberg markets.s crunch day for republican tax writers. the house ways and means committee is in the final that negotiating legislation, while the senate prepares to reveal a blueprint. th, senate, john republicanu,ne said the plan would keep the wind tax credit unchanged. you can see those pictures there -- they are still talking about this, but they are top -- starting with the client portion of the tax bill. what more do you know kevin: -- what more do you know? kevin: i got a statement from steve bannon, who said he is backing the house version of the tax plan, which would essentially say hedge fund managers will have to wait three years before they can qualify for a lower capital gains rate. a lot of folks in the hedge fund community do not like that. this is related to the carried interest rule, and it is unclear whether or not the senate, the senate finance committee chairman orrin hatch, is going to get on board with that, especially since hedge fund managers have been for shilique that's for

i am vonnie quinn. shery: i am shery ahn. g markets." ♪ from bloomberg world -- vonnie: from bloomberg world headquarters in new york, here are the top headlines. resident donald trump arriving in beijing, looking for wins on trade and north korea from his chinese counterpart. will his personal round of diplomacy reduce results? day three for the tax-writing committee work up of the gop plan. a $74 billion revenue hole needs to be patched. this may put obamacare appeals back on the negotiating table. we had to sunny los angeles for .n interview with steve ballmer his take on tax reform, tax relationship with washington, and the future of the nba. shery: a

vonnie: i am vonnie quinn. this is "bloomberg markets."tware maker synopsis raised its forecast for earnings, even above the most optimistic street estimate. taylor riggs has more. taylor: it is about future outlook. you can do well this quarter but you want to make sure your guidance going forward is good as well. first-quarter guidance, for next quarter, looks like earnings per share on the adjusted basis is anywhere between $.98 to $1.02 well above analyst estimates of $.84. i like topline revenue growth, because they are doing 5% to 10%, to 12% revenue growth on the top line basis, which is pretty good. to $2.91nce from 2.88 billion. analysts are saying they should be able to maintain the strong, stable revenue growth. what is driving this? a lot of this is the software security business. earlier this month they bought black duck software, saying that that will contribute to topline revenue. analysts are coming out and saying that the software security revenue of $350 million by fiscal year 2019, unappreciated in their current valuatio

vonnie: in new york, i am vonnie quinn. this is "bloomberg markets."partment lawsuit to block at&t's takeover of time warner. sparked decision that accusations of meddling. at&t ceo sharply criticized the decision. >> there has been a lot of reporting and speculation whether this is all about cnn. frankly, i do not know. but nobody should be surprised that the question keeps coming up. because we witnessed such an abrupt change in the application of antitrust law here. the bottom line is we cannot, and we will not, be party to any agreement that would even give the perception of compromise in the first amendment protections of the press. any agreement that result in is forfeiting control of cnn, whether directly or indirectly, is a nonstarter. vonnie: he seems to know what it is all about. joining us now is it all the, antitrust lawyer -- is david , antitrust lawyer. he has represented several groups that objected to the comcast-nbc merger. first of all, we now have the name of the judge that will preside over this time warner-at&t case. district court

i am vonnie quinn. julie: i am julie hyman. n well on its way to meeting its forecast mentioned on "bloomberg daybreak: americas" last week. >> we and a $10,000 at bitcoin and we and the you're close to 500 and theory. vonnie: still another few percentage points. to weisenthal joins us now talk about what might be ahead for the currency. the thing is we don't know. they could crash tomorrow. joe: it could crash 80% tomorrow. i noticed over thanksgiving that mike nova grad tweeted that he was thankful for a number of things like the macy's day parade and he was sure to give that thanks. , his targets are basically almost already here. julie: we have seen more retail investors. about just guys talking it. it seems like everybody's talking about it and it seems like we are at taxi driver level where your cap driver is recommending it. joe: i kind of think like this with mostkwards mobile start with something that wall street people get into mma fan out into the world. the next thing you know is that this that famous seen in "the bi

world headquarters in new york, i am vonnie quinn. mark: from london, i am mark barton counting down to the european close. equities are up for the seventh day in eight. also rising for the seventh week in eight. changed.inally little the dax record today. miners leading the gainers they, the highest level for index since early january 2013. sterling is up for a second day after the bank of england raise rates on thursday. hike. the euro down against sterling. sterling is in the ascendancy today against those three major currencies. let's go to the developing situation in catalonia.

world headquarters in new york, i'm vonnie quinn. london, i'mfrom nejra cehic, counting to down to the european close. as the u.k. and eu wrap their greatest -- latest rounds of brexit, concerns over the future of the irish border have interrupted. circulatedment wednesday calls for northern ireland to maintain the rule of the customs union and single market after brexit. this added to pressure on u.k. prime minister theresa may, gloucester second avenue minister in a week -- who lost her second cabinet minister in a week. joining us is emma ross thomas, and dara doyle, bloomberg's dublin bureau chief. in, the eu is floating the prospect of no deal. ian: it looks that way. today marks exactly halfway between the u.k. referendum last year and the day they're going to leave the eu in 2019. i think you came down from the

vonnie: from new york, i am vonnie quinn. this is "bloomberg markets. audio -- bloomberg markets. and thede inventory dollar is weakening ever so slightly, perhaps concern about tax reform. joining us to discuss it is is todddashers to -- colvin. why is oil reacting the way it is? todd: i think oil is living in the world a fundamental news. this news out of the middle east, whether political from south america or anywhere, it will be a short-lived move. the technicals will outlast and if we get the number safe and we see continued supplies go down, that would be the key to keep prices elevated because if we keep oil prices around $57 or as high $60 in the short-term, you

vonnie: i'm vonnie quinn.says president trump might between his way to losses in 2018 and 20 by alienating swing voters. this is according to jim messina. deputy white house chief of staff under president obama and was a campaign manager obama'sa plus 2012 -- 2012 reelection campaign. how likely is that the gop loses in 2018? who voted for obama and donald trump are the key. i spent my own time talking to these voters about what they want and what they are thinking about president trump. the only thing they care about, it is the economy. is what isic issue propping up the trump presidency. while these voters have a 20% disapproval rating of the president, they still view his achievements and record on the economy positively. the way democrats need to talk about this is be very specific. the daily tweets, you saw this morning and all weekend, it is distracting him from doing what he should be doing, which is focusing on the economy. when they do that, he goes from plus five, to -21. president trump's daily twee

york, i'm vonnie quinn, this is the european close on bloomberg markets. here are the top stories we're covering. it's the $1.4 trillion item on president trump to do list. d.c. is gearing up for a crucial week to help push through tax cuts. merkelchancellor angela failed to form a coalition but main members of the opposition party may get final say on a deal. vladimir putin wears the crown at opec. he emerges as the most important player ahead of talks on extending production cuts. have a look at where european equities are trading. it's 30 minutes until the close of trading in great britain. continent as well, we see the ftse index trading down and it has been all day. continental indexes have been doing well but the ftse's down. 1% stoxx 600 is down 1/10 of and the dax and the cac 40 is doing well. a little bit of recovery here. currencies, two days story has been a euro story. as we move closer to the possibility of a majority government in germany, that's the heavyweight anchor of europe with the euro trading up and it's now 100 -- it's now $1.19. lat

i am vonnie quinn. >> welcome to bloomberg markets. ere are the top stories. dilemma overeserve rate increases and low-inflation environment will be in full view and a couple of hours. meeting.rom the fomc effort setback to uber's to turn over a new leaf as they concealed a major cyber attack last year and they are paying for the concealment. netflix could be in store for a change after the sec rolled back the neutrality rules. -- net neutrality rules. we look at the outlook. ♪ shery: -- vonnie: a holiday shortened trading week.

vonnie: i'm vonnie quinn. venezuela plans to default on its debt.a televised speech that lasted more than an hour, president nicolas maduro said the government would refinance its debt, then used the word " instead.re was goin more, let's bring in katia porzecanski. what exactly did maduro say? was he lucid? katia: great question. he used the words refinance and restructure interchangeably. they are two very different words. he didn't clarify if he was including the state owned oil company with a sovereigns, so that caused some confusion. it wasn't entirely clear that they intend to continue to pay their bonds through this situation or if they are defaulting. today, the vice president, who has been put in charge of the restructuring process, provided a bit more clarity. he said it will be both sovereign and the oil company, they intend to keep paying their debts throughout this process. he used the word "renegotiate." the third word in the whole thing. regardless, the market is not taking this well. reaching many bonds down $.18 on .he dollar trader

from new york, i'm vonnie quinn. david: i'm david gura. loomberg markets. ♪ vonnie: here the top stories we are covering from the bloomberg and around the world. just minutes away from a major event on capitol hill as house republican leaders are set to unveil their long-awaited tax bill. we will bring that to you as soon as it happens. bank of england policymakers raise interest rates for the first time in a decade. they indicate that another increase is not imminent. plus, former fed vice chairman give us her perspective on the new gop tax plan and on president trump's imminent fed chair announcement. with lots going on today and micro stories throughout the morning as well let's get to abigail doolittle for a look at how markets are doing. 19 minutes into the trading day. small moves for the major averages despite the fact that we still have so much going on. the tax reform bill that has been proposed by republicans. initially there was a big reaction. take a look at the dow s&p 500 and the nasdaq. for the dow up ever so slightly. if we

i am vonnie quinn. shery: i'm shery ahn. vonnie: retailers are pinning their hopes on loyalty.have aggressively roll that loyalty programs. the free twoainst day shipping and online perks offered by amazon prime. for more, let's bring in bloomberg's retail reporter went the route. -- lindsay. can any program match the benefits of just ordering something from amazon? lindsay: it depends on what you want out of your loyalty program. for retailers, to great way to capture data. instead of offering you a discount because everybody's offering a discount, they want to make you feel special and offer more targeted things that you might respond to that or maybe even lower cost for them. at safar, you have earned x number of points and you can get these cool samples. --nordstrom coming can get nordstrom coming can get a note after you spend o a certain amount of money. retailers are trying to get you to spend more money with them by making you feel individual and unique and special. vonnie: but we are. shery: full disclosure -- i actually signed up for amazon prime before moving to the

vonnie: i am vonnie quinn.ook will show people with russia propaganda pages or accounts they followed or like on their facebook accounts. featuring the presidential campaign and election in response to a request from u.s. senators to address manipulation and meddling during that time. our technology reporter broke the story who is on the phone from houston. how will this work? something you have to download or turn on on facebook? >> no, by the end of the year it should show you and their help center whether you like or followed in the of these pages. it will give you a list of the names of the pages. unfortunately, you cannot see the actual content of the pages. they are leaving it up to congress to decide whether to release the posts. shery: what is facebook trying to achieve? >> they want to respond to senators and representatives who question them. why shouldn't it be just like a data breach where an organization's informed people if they were exposed. you tell your users if you have information about peopl

that will be the ultimate choice for vonnie quinn today.t wonderful chart that encapsulates saudi arabia and its stock market and emerging markets index. by blue line up i-30 2% -- 32%. despite the reform plan implemented by the crown prince, look at the performance of the benchmark in saudi arabia. down by 3%. today's news was the corruption purge that has taken place over the weekend. investors saying they are happy about the willingness of the saudis to take on corruption. the big question is what happens next. it fell initially and rose at the close. similar today. performance that fascinated but we did not see the big movement. emerging markets is the big outperformer. vonnie: you held your own and almost made it, but i think it was a technical knockout and julie hyman is the winner. thanks for that, guys. more markets ahead. ♪ vonnie: it's noon in new york, 5:00 p.m. in london and at 1:00 a.m. in hong kong. shery ahn: welcome to "a bloomberg markets." vonnie: here are the top stories on the bloomberg and around the world that we are f

vonnie: i am vonnie quinn.le ceo tim cook toward the palo alto store today as the iphone x went on sale in stores. all the hype following apple's robust fourth-quarter earnings beat. the stock crossed the $900 billion level in market cap. that was a little earlier. joining us from san antonio, texas is a.b. mendez. thanks for joining us. toprised that apple managed continue its streak of surviving? a.b.: no, not very surprising. we look at this as the next potential iphone super cycle. you have the eight, the eight plus and the x coming after the first bigger phone, the six plu s in 14. of the surprising is tim cook said the early demand for the 8 plus is the greatest they have seen for a larger phone. it was surprising to them how many preorders they got. i think that gives you an indication there december quarter guidance might be a bit on the conservative side. vonnie: 12% growth in china. cannot improve? a.b.: no, i think the emerging markets growth was 40% year on year. china sales were up, which they had

vonnie: i'm vonnie quinn. a little bit of clarity for the unattached.ingle-a has kicked off in china. evans,joined by mike president of alibaba. this year's a singles' day is even more ambitious than previous years. of are listing about 10% to bes convenience stores delivery centers. how will this boost efficiency? mr. evans: this years a single day is boosting efficiency by and commenting a lot of new technologies and capabilities as part of the new retail strategy. the mom-and-pop stores you just referred to a very small stores, but it's typically they only have access in capability in a small local market. today with the benefit of technology and digitalization, we are significantly expanding their capabilities to sell their products to a much larger group of consumers. billionsibaba invested into grocery stores and harmon stores several years before whole foods announced -- amazon announced its acquisition of all foods. is china ahead of the u.s. in terms of merging off-line and online u.s. retail? mr. evans: when a look at it as a competition, nece

vonnie: from new york, i'm vonnie quinn.n justin trudeau was running to be prime minister can do, his opponents said he was not ready. , the economy is roaring and they are not concerned about deficit spending. let's bring in matt winkler, editor-in-chief emeritus. the market is cheering the current prime minister of canada. canada markets in inering justin trudeau and the u.s., cheering donald trump, and they are so different? matt: justin trudeau inherited -- donald trump has inherited the obama yellen economy continu. the trudeau economy is a big surprise, in that it's positive all the way through. everywhere you look, canada is outperforming what was expected to do when he was elected. ,e was perceived to be young untested, and in fact was happened is there's enormous confidence in corporate canada, outperforming in the corporate u.s. right now in the equity and debt markets. and you see that also in the economy, which is right in the top of gdp growth. bek: is always better to lucky than smart, your words, matt. how luc

vonnie: i am vonnie quinn. shery: the tax light turns to the senate. bill cassidy just previewed their own legislation. hill where capitol kevin cirilli come our chief washington correspondent, is standing by with a special guest. kevin: thank you, shery. we are here with senator mark warren. we have details from senate republicans about what will be in the senate bill. did they consult democrats at all? sen. warner: we have heard nothing. this has been so frustrating. i was part of the gang of six, the simpson bowles plan. i have had a career in business, get we have had no consultation. this plan has been written totally in the dark in a secret room. i think many by senate finance members do not know. it right now as we speak, but this is not the way we should rework our country's tax code. kevin: some democrats met with the white house earlier this week. senator joe manchin meeting with mark short of the white house. some republicans are saying they want to get democrats. what you make of that argument? sen. warner: as somebody who spent a career in

. ♪ vonnie: this is "bloomberg markets," i'm vonnie quinn. shery: and i'm shery ahn. the u.s.ld be entering the next phase of the m&a cycle. a report, u.s. executives are expecting the deals market to return to normalized levels after a flurry of to mistake m&a activity over the past couple of years. jason kelly joins us with more. jason: thank you so much. , viceere with bill casey chair of transaction advisory .ervice the report you just put out is talking about where the m&a market is. a lot of the talk this week is about qualcomm. what are we to make of that from a sector respective or an enthusiasm for deals perspective? coming off last week's largest tech deal ever, our barometers showed that 73% of executives believe this is a healthy and stable market. in fact, as we saw last week, companies that are over $5 billion in revenue, 74% are expected to do deals. combine that with coming off two quarters of 3% gdp growth. overall, the global economy is doing really, really well. 63% of respondents feel the corporate earnings are improving, combined with all the other great f

. ♪ ♪ vonnie: live from new york, i am vonnie quinn. live from london, i am mark barton. 16 minutes to the european close, let's get to the latest. be, jpmorganthe fs is the most systemically important bank. bnp, credit suisse all dropping one level in the rankings which means they will face lower capital requirements. do we care about these rankings? reflect think they international consensus after the crisis of how risky banks are. the rankings are an international match trick -- metric that gets imposed by regulators around the world, some of which have already higher levels than what the international numbers came out today, so you have to look down another couple levels. mark: what does it actually mean for the banks and their operations and finances? silla: these rules willfully take effect in january 20 19th, and what i think we have seen is banks as they prepare for this eventual date, they sort of changed their business a little bit. they reduced assets, they get rid of certain operations around the world, and they are sort of

from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." mark: here are the top stories we are covering from the bloomberg and around the world. firesminister theresa may back to president trump, slamming him for retreating a far-right political figure in britain. well the latest controversy distract her from delicate brexit negotiations? with global equity markets still hanging around records, where are the top opportunities for next year? should investors be into japan or india? nangle, guest is toby global head of asset allocation. and more of the world's top banks are weighing in on the validity of the virtual currency . we will hear from lloyd blankfein and others, coming up on the european close. have a look at where european equities are trading today. this is the chart we want, global macro movers. equities, currencies, bonds, commodities, mix today, as you can see. technology stocks sunk yesterday down for -- down from 2.8%, mirroring what happened in the u.s. not falling as much today. i slant is lower, luxembourg and denmark are

vonnie: i'm vonnie quinn.ineering and construction company are among the top performers for the s&p 500. its best day since november of last year. joining us to break down the numbers is abigail doolittle. abigail: they put up a very big quarter. he earnings by 11%. they have overcome some challenges. i spent some time on the phone with andy whitman. he has a neutral rating on the stock. it sounds as though this quarter is perhaps a turnaround of sorts. he said they are working down. they have been working down there guidance in the last few quarters. and his particular quarter they kept the guidance. execution charges have been abating. the awards for new work have gotten stronger, especially in the key mining segment. the stock is down in a big way this year, dad more than 10%. on pace for its worst year since 2015. perhaps this is truly an conception point for the company. whitman --nt -- andy valuation is a little high. the low $40 per share. he could probably be more constructive of the business turnaroun

vonnie: i am vonnie quinn. it is time for our stock of the hour, roku.up more than 25% of the last two days. abigail doolittle joins us. abigail: it is remarkable. this company ipo would in september -- ipo'd in september. if you put $1400 to work now, you would have a $3600 profit. and it isn't the new roku, it is the old one that is streaming top boxes. what happen yesterday, morgan stanley raised their price target to 50, saying this company could compete with netflix. today, we have adobe analytics among monday sales winners, getting shares a boost. as extraordinary as the big rise up is from the ipo, up more than 250%, so is the short interest. 2577, and at g #btv in white, we are looking at the shares of roku. from $14 now to $48 stock in two months. in blue, we have the short interest at 39%. we know that is a bearish bet angers. similar to test what investors back in the day, these investors are getting hurt because this only goes up as they piled that short on. part of that short story has to do with lack of profitability. shery: who will win? w

vonnie: i'm vonnie quinn. this is the european close on bloomberg markets.overs on the stoxx 600 today, i'll tease. best a since august. the company has plans to raise cash through a share sale. julie: -- .bigail: let's back up this is of course the internet and cable telecom giant over in europe. most of their business in france followed by israel. much of their business acquired through acquisitions. more than a dozen over the last few years. more than $52 billion in debt. of the 5% of the capital structure. weeks ago they put up a horrible quarter. they got into the low end. lots of worries today. saying they're not going to offer equity means there won't be dilution to current shareholders. considering profits have been a little bit weak that is a relief to investors. they cleared up some the mystery around insider sales. management has given investors more confidence. we have shares absolutely popping higher. ink: clearly the company is the turnaround mode. what does it need to the? -- do? they sounds as though really need to return to basics. if you ta

i am vonnie quinn. shery: i am scarlet fu. vonnie: bitcoin has it $11,000.omeone sound alarm in an interview earlier. >> bitcoin is successful only because it's potential for circumvention. a lack of oversight. it should be outlawed. vonnie: joining us to discuss is our editor at large cory johnson. usually skeptical about these things, i would imagine he is skeptical -- you are skeptical? >> bitcoin is not widely understood by of skeptics and people buying it will expect a greater full to buy it. when we look at financial instruments, we have to appreciate the differences to see what we are talking about. sometimes i get assigned these things because i am of dutch descent. it was about bidding for a bold bulbup with a white -- with a rare genetic deformity which led to insane prices. understanding what bitcoin is get people excited to get the bubble going. people figure out if they are bidding for bitcoin or statements against bitcoin without understanding it. shery: someone will launch the futures in december. >> that could help support the price. it would

that was bill ackman, pershing capital management's ceo speaking with vonnie quinn earlier today.rg business flash." blue apron fell to a record low today after the ceo highlighted problems with profit margins at its newest fulfillment center. margins at the center in linden, new jersey, were significantly lower than the average at other facilities. the company has lost about 70% of its value since its june ideal. googles a time of unit will start chauffeurin people in minivans without so-called safety drivers. a pilot program will be held in region in phoenix. shares of weight watchers are soaring. the weight loss company posted third-quarter profits that beat estimates. weight watchers also boosted employee or forecast. almostck has increased for full this year. a key to the effort is oprah winfrey. she bought a stake in weight watchers two years ago, about 9%, and she has become the face of the business. ♪ >> that is your business flash update. let's get back to the breaking m&a news, brookfield is said to be in preliminary talks with gdp about acquiring a stake in the mall own

vonnie: i am vonnie quinn.: the iphone x is just making its way into the hands of eager users but the tech giant may be aiming to have the technology for an augmented reality headset in place by 2019. they want to go beyond the headsets available now. here with his exclusive scoop is mark berman joining us from san francisco. product behis ar different from the virtual reality headsets out there? mark: the way ar works is it is all encompassing. in could be in your office, the living room on your couch. the difference with ar, it augments the real world with what you can see. for example, i could be looking at you wearing ar glasses and it would pull up your contact card and tell me all about you. it gives you information that can help you in your day-to-day life. vonnie: how is it more attractive? why is apple pouring money into this as opposed to virtual reality? mark: it is more mainstream. they want products people will line up for. vr is very focused on specific applications, perhaps in the medical field o

i am julie hyman and for vonnie quinn.hn welcome to bloomberg markets. ♪ from bloomberg world headquarters in new york, here are the top stories. a risk off wave lose their financial markets with global equities and oil sliding as bonds advanced and haven assets rally. cerberus is ramping up its bid on deutsche bank, as they did a 3% stake through their founder. we will discuss this and more with lovell minnick partner's president steven pierson. and part of mice whose of interview with the blackberry ceo, what -- and part of my interview with the ceo of blackberry. doolittle is with us halfway into the trading day. a downdraft, though smaller than earlier. >> a pullback but well off of the lows. major averages down for a second day in a

. ♪ julie: live from bloomberg world headquarters in new york, i am julie hyman in the vonnie quinn.m shery ahn. let's check major averages. u.s. stocks to klein across the board. the s&p 500 falling for the third time in four days. materials and telecoms leading declines as the dollar also doubled its pr, losing ground. not a lot of surprises from that ecb conference featuring top central bankers but we see a global selloff now. the s&p 500 down .25%, basically risk sentiment across the board. julie: let's get to the bloomberg first word news with mark crumpton. capitol hill attorney general jeff sessions rejected accusations that he lied to congress about trump campaign context of the russians. not initially remember the meeting he had with georgen aide papadopoulos, who pleaded guilty to lying to the fbi, but sessions says he now remembers telling him he was not authorized to contact the russians on the half of the campaign. downplaying jr. is revelations who was in direct contact with wikileaks weeks before the presidential election. the messages showed the president's son answer

i am julie hyman in for vonnie quinn. >> welcome to bloomberg markets. ♪ julie: from new york, here aremberg and around the world. u.s. attorney general jeff sessions says he is never lied about contacts with russia by people involved in the donald trump presidential campaign and we will bring you the latest details from his testimony before the house judiciary committee the donald trump returns to washington to face the ongoing battle over tax reform as the senate tax-writing committee enters day to of its market. the house may vote on its bill by the end of the week. we got to capitol hill for an update. a bond bill -- lacy had joins us and says why we are in the worst economic recovery in postwar time and why we will see an inverted yield curve as soon as a year from now. let's get a market update. we are happily into the trading

from london, i am mark barton. , i am juliew york hyman in for vonnie quinn. close.""ark: here are the top stories we are covering from the bloomberg and around the world. president trump heads to capitol hill to sell house republicans on his tax reform plan before they cast the crucial vote. and he sealed the deal? $1 trillion sovereign wealth dumping $35idering billion in oil and gas stocks and the oil and gas are reacting. can prime minister theresa may get brexit negotiations on track? what could be the potential fallout in the markets? we will speak to rupert harrison of black rock.

julie: in new york, i'm julie hyman in for vonnie quinn.n close on "bloomberg markets." ♪ mark: here are the top stories we are covering from the bloomberg and around the world. u.k. prime minister theresa may agree work needs to be done as she meets european leaders in sweden. had she made progress on brexit talks? out of u.s.o dump stocks and go full bore into emerging markets? we speak to a strategist to seize big value in the developing world. , a senatet tax divide panel approves a very different tax bill to the house as lawmakers prepare for a fight. have a look at what's happening to european equities, 30 minutes away from the end of the friday session. we are done for the second week and haven't f

shery: republican senator pat toomey with vonnie quinn.rve veterans day we learn about a new program from j.p. morgan chase and help vets as small business owners. this is bloomberg. ♪ ♪ shery: this is "bloomberg markets: balance of power." david: as we honor those who served in the armed forces, we are reminded of many challenges vets faced when they return to the workforce. --. morgan chase announced you talk about the initiative is ross brown, head of military and veterans affairs at j.p. morgan chase. ross: it is a pleasure to be here. david: you are involved in a broader set of issues. out of theyear, 200,000 veterans that transition from the military, 25% want to go on to own a small business. unfortunately, due to a lack of access to capital, only for half percent -- 4.5% going to do that. we focus on the delta between the 25% that want to own the business and the 4.5% they can want to do so. -- that go on to do so. shery: i was so surprised to see the numbers. 9% of all businesses in the country are ve years. that is so many more t

vonnie: i am vonnie quinn. another turn in the bitcoin journey.he cryptocurrency has passed $11,000 per coin and plunged 20% in a span of a single session yesterday. lloyd blankfein pointed to the wild swings as the reason for his reluctance on bitcoin >> when he spoke to alix steel earlier. something that moves up and down 20% and a day doesn't feel like a currency. we will see. if it works out and gets more established and trades like a store value and doesn't move up and down 20%, and there is liquidity in it, we will get to it. vonnie: joining us now is marc chandler, brown brothers vp had ofenior currency. $9,000.tcoin's the median family income in the u.s. is 45,000 to 50,000 dollars. most americans are not participating in this. this is something that is from a for mostly wealthy people that have money to lose if they are wrong. shery: right now we are seeing trades being done in developing nations as well. how can you keep an eye on where the money is going from and to? the decentralized nature of cyber currencies, the volume number sugges

i am vonnie quinn. mark: and live from a bloombergs new european headquarters in the city of london, i am mark barton. chair yellen will be briefing congress on the fed's economic outlook. we have data on the u.s. housing market. abigail doolittle has more from new york. abigail: we're looking at pending home sales for the month of october and very strong readings here. month over month reading statement of over 3.5% versus the survey of of -- up 1%. year-over-year basis, little better than expected. much stronger than september. we are seeing an impact from hurricane irma. plus, not a lot of supply. nonetheless, pending home sales for the month of october relatively strong, and that it is forward-looking, suggesting that the housing market may continue to have momentum. not a lot of influence on the major averages. a decline for the nasdaq. dow and the s&p 500 putting in a new record highs, but the nasdaq the laggard today. so far not another record high. everyone has been talking about the string of r