wti, 54.24 brent above 60 but weaker this morning.r the currency market it's been a story of dollar strength lately. this morning that's reversing a bit against the euro and the yen, hovering around the 114 level. the pound is firmer ahead of the bank of england announcement where we expect higher interest rates. one and down, as wilfred said, just to deal with the inflation they're getting as a result of weaker currencies, brexit uncertainty. >> two factors were the extra cut coming in after the brexit vote as you say, inflation up to 3% but not seen as transforming the future path of the boe >> not like we're going into a cycle. >>> bitcoin, new highs today well above that $6500 mark that we saw yesterday in the session. now $6900. just charging ahead towards 7,000. for all the haters calling it a fraud out there. >> that poor ex-boyfriend of yours that didn't buy it >> didn't buy it at a dollar the only call i ever told anybody to make actually i'm careful not to do that >> should have done it yourself. >> can't top that. in this i

just to recap in terms of the direction of crude oil, it's quite a rally for wti. sustainable is that? how much further can i go? sustainable, but i think we are close to where we need to be with oil prices. the last time i was here we had a very aggressive forecast. we are more or less where we will prices should be. it's an interesting market. i don't think it is sustainable for most producers and that is why we thought at 40 we were not sustainable. but if you move to 70 you are going to see increased production from unconventional producers. i think they are close to where we need to the. oil prices around this level look to be closer. >> i guess the other side of that is what about inflation outlook? everyone knows the one asset whose rapid change in the outlook affects not just things like breakevens all the way to consumer spending habits, it is a rapid change in the oil price. hasn't moved up for not for you to make you change your math of the inflation outlook next year? >> no, it has moved up in line lineour forecasts, and in with our expectations. this w

vonnie: we have record long positions at the moment in wti.hat price point do they start closing out? scott: you know, that is really interesting because right now, there has been a big draw down especially because of what is going on in south dakota with the keystone pipeline, but there has been a big drawdown. the producers are pumping more now because of these prices that we are seeing. you know, i think everybody is talking about a $60 number being the number that the producers want to be at, opec wants to be at, but again, i think the risk is actually to the downside here. we have seen such momentum in oil over the last month or so. i would be very, very cautious coming out of the news next week with opec meeting. vonnie: if russia says it wants to include language that would allow every body revisit the agreement, with that the enough uncertainty to send markets into a little bit of turmoil? scott: i really do. i think that is the case. i don't see a big downside move here, but i would not be surprised to see the 10% cut of wti here gett

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up to 55 bucks for wti brent well past $61. dollar board for you, the dollar was flat yesterday, up 1.5% for the month. so the last two months have been a change in direction for the dollar in the course of 2017 dollar up the last two months. having fallen steadily for the year today not much happening the dollar is up against the yen but not much against the pound and euro bitcoin hitting a new high once again. big news for by the coin yesterday, the cme will start trading by the coin futures. that adds some legitimacy to somethings that been criticized by some financial firms. up 0.9%. >> part of the maturity process here. >>> last night on "mad money" jim jcramer summing up what's happening in the global market here's his take. >> it's not just about the u.s., it's the whole world europe, which had been a constant worry flipped and became a source of growth this year eurozone has finally got the house in order that's while the euro went up which helped earnings. china stayed steady, the rest of the world continued to acceler

up 1.7% for wti. gold prices slightly stronger yesterday and today.he gold price as we stand this morning is coming up for you, it is here. there it is. 1282 it's up fractionally in corporate news, uber is under fire for concealing a massive data breach. landon dowdy joins us with more on that story. >> good morning. another kalanick cleanup uber concealed a cyberattack that concealed 57 million users drivers information and data in 2016 the ride hailing app paid $100,000 to delete the information. the hack was performed by two people on a third party cloud service. the hackers stole names, driver license numbers of around 600,000 drivers in the u.s., as well as rider names, e-mail addresses and phone numbers. co new york attorney general eric snyderman launched an investigation into the hack and lull of this follows mult pbl iss multiple issues throughout the year for uber. another kalanick cleanup >> aside from the news of the hack, is there a legal part of this for paying the hackers? and it's another thing for the new ceo to clean up, but also say

wti down 0.2, but still above $57 per barrel you can see the climb there.e will talk about that and the saudi situation later. brent crude, 63.73, flat this morning. nat gas is down a percent. as for the u.s. dollar, the dollar was hovering near multi-month highs there. going the other way this morning. the dollar weaker against the yen, slipping below that 114 level. we were firmly above it yesterday. the dollar is weakening a bit against the euro, just below that key 116 level the pound weakened against the dollar gold prices on the flip side, usually higher off the back of the weaker dollar, and they are. >>> your top corporate story, shares of snap are deep in the red after the company reported a huge revenue miss after the close yesterday. landon dowdy joins us with more on that mover. >> good morning. that's right shares of snap sinking after weaker than expected third quarter results due to a miss on revenue and user base. the disappearing video app posting a loss of 14 cents per share, slightly better than the loss of 15 cents the street expected re

wti crude down about a quarter percent to 56.61 a barrel.own natural gas giving back recent gains, which coincides with a cold snap in the u.s. weather. currencies, the dollar has been also flat lining after a bounce. slightly lower against the euro. there was an outperformance on the italy gdp data got a bit of a pop in the euro there. dollar also slightly stronger against the yen. as well as the pound the pound took a move down after there was a lower than expected inflation reading out of the uk. gold has been generally quiet, under $1300. it's down 0.4% at 1273 >>> breaking overnight, standard & poor's declaring venezuela in default after the country failed to make two interest payments on its debt they owed roughly $200 million in coupon payments, but failed to make those payments s&p downgraded the sovereign bond rating to "d" from double "c," and cut the sovereign credit rating to selective default. >>> happening now, the world's most powerful central bankers are gathering together in frankfurt, germany janet yellen just started speak

yesterday both wti and brent were higher.y wti was settling at its highest close in more than two years, 54.54 so adding slightly to those gains today, up by a half percent beyond that at this point. look at what's going on with the dollar steadying itself against the basket of currencies not much movement against the yen. we did note the nikkei is closed today for culture day in japan flat here against the pound which is interesting after what we saw yesterday with the pound's fall in reaction to the bank of england interest rate rise the price of gold, relatively flat yesterday not a lot of movement today. slightly lower here, sitting at 1,275. >>> the u.s. market, of coeure, always in focus. jobs market. the jobs report comes out at 8:30 a.m. eastern time non-farm payrolls forecast to rise by 315,000 following the decline of 33,000 in september, which was impacted by the hurricanes unemployment expected to hold at 4.2% joining us now is david rosenberg from gluskin sheff do you agree we could have a big number over 300,000

look at where wti is down more than 1% as well as brent. gas is holding declines of a third of a percent following reports on supply and a report we got from steve sedgwick and the ten-year note. we've seen this basic stagnation in yields in the ten-year. 2.4% is the level of resistance for the ten-year we're sitting at 2.34. the cpi data will be watched closely. again, tax reform. >> i think that's played into the fact that we've seen the yield curve slip a bit we were up to 2.45 two, three weeks ago. so the ten-year slipped. at the same time the two-year note hit highs, fractionally below that we have not seen for a couple of years. the yield curve has flattened significantly. let's look at equities around the rest of the world. asia is markedly lower today it has had a grade run of late it paints that risk-off sentiment we're seeing around the world. japan down 1.6%. hong kong down more than 1%. europe also is lower, not so strongly we're down about a half percent for france and the uk. germany down 1.3%. everywhere in the last half hour

wti is at 56.46 and turning now to -- >> let's discuss that a bit further. going to be joined with some news on why oil prices have been moving latest of all. jackie. >> morgan, wilfred, good morning. rumors have been floating about the king passing the throne, the reins over to his son crown prince mohamed bin sal mad also known as mbs there's a speculation that a shift of power could come as early as this week mbs has been shaping policy. he is aetd the architect of the saudi 2030 vision. at 32 years old he's the driving force behind modernization in the kingdom. no secret that mbs has this ambition getting this title gives him power. as king mbs's impact on geopolitics would be more pronounced he would be tasked with setting the agenda with foreign nations. he's already viewed as aligned with president trump it seems like the saudis could potentially partner with israel in a unified fight against iran and hezbollah. business interests include oil and of course the aramco ipo consensus that king mbs would be bullish for oil prices or at least keep them in

coming up, wti crude trading around $25 a barrel. futures in focus is next.rom new york, this is bloomberg. ♪ ♪ mark: live from london, i'm mark barton. julie: and from new york, i'm julie hyman. this is "bloomberg markets." time for futures in focus, oil is trading near $50 a barrel. signaledsingled -- has rebalancing. risk off tone his the market. joining us is alan to discuss and bullseye option. has been interesting. $57 seems to be a stumbling block, if you will, for oil prices for wti. we have risen above it a couple of times and then installed out kerry wood you make of that? --what do you make of that? >> where we traded for a long and 53 dollars, it is holding about that, so that is important. i saw a stall, but we saw the crude climbed continue. it has been five straight consecutive positive week in crude going up from $43 to $58, or below $58. the big picture, crude is trading between $45 and $55 for the last year, so this target is another 15% above. this has happened impressively with the recent dollar strength. julie: i am curious if oil is full

oil, of course, on a big move upward this morning down slightly wti crude off 2% it's up 6% year to date. it looks like we have a similar move with brent and nat gas. as for the dollar this morning, we are seeing as you mentioned the sterling off and the dollar up against the euro, down against the yen just slightly and up against the pound this morning. as for gold, it looks like we're moving .4% last week moving higher this morning. up just slightly, .2, almost .3% here taking a look there it stands at 1,277. >> wall street has a busy agenda this week with economic and earnings report. october consumer producer price index out tomorrow the consumer price index in retail sales thursday, we'll get import prices and industrial production started by housing starts on friday as for earnings, retailers are going to dominate as they usually do late. we'll hear from home depot, target, l brand, best buy and gap and also reporting this week outside of retail jerseys could he system and viacom. >> stocks to watch today, gi joe is making a takeover offer for barbie sounds weird, doesn't it >> yes

about 63 barrels, that's what we saw on ice brent crude wti crude trading at $58.54. talker will be the opec meeting. final meeting in vienna on thursday meantime, take a look at currencies the dollar moving in a strong way. the u.s. dollar lower against the japanese yen one of the reasons we saw the japanese nikkei move lower over the past week. >> speaking of big moves, take a look at bitcoin now above 9,000 trading at 9,480 it only took seven days to go from 8,000 to 9,000 for the digital currency. >> unbelievable. >>> our top corporate story this morning, publisher meredith is buying time, inc., for $2.8 million. contessa brewer is joining us with the story. >> reporter: hey, wilfred. now we have a deal on the table. meredith will pay $18.50 a share from time, inc it was spun off from time warner in 2015. they publish "time," spor"sport illustrate illustrated", "people. meredith publishes "family circle" and "better homes and gardens. both companies are struggling to replace shrinking ad revenue meredith got $1 billion for supporting causes. they're investing in t

it was the fourth negative session in five for wti.ouncing back today by 0.6%. 56.8 is the price of wti >>> dollar board, up 0.4% yesterday. the euro is the real one to watch following the news that german coalition talks have broke down it did end the session down. it yo yoed back and forth. did end down a half percent or so, which allowed the dax and the cac to rally yesterday today it's flat. 117.25 is the price of the euro. not much movement elsewhere on the dollar boards. >>> some stocks to watch shares of urban outfitters are rising in extended trading landon has the details >>> ur beban outfitters posting better than expected results they posted earnings of 41 cents a share compared to 33 cents forecast revenue beating coming in at 893 million. same-store sales a key metric for the industry rising 1% versus the 4.5% decline the street was expecting the ceo attributing the beat to improve apparel execution across allchannels and brands all three of the firm's brands exceeded by expectations in its free people and anthropology div

let's check in on the broader market there we saw 3% moves for wti and brent oil.'re seeing those prices higher again this morning. 55.89 wti is up half a percent brent up half a percent, 62.39 as for the u.s. dollar, watching this one has basically been tracking yields although displaying a bit of strength especially against the japanese yen. 114.13 that pair is stronger but fractional news. against the euro, 116. staying above that key level the pound is firmer up almost a quarter of a percent on the flip side, maybe the stronger u.s. dollar are a bit higher 12.71. >>> now to corporate news. qualcomm is going to have an offer today. >> according to cnbc's david favor broadcom is preparing to make an offer for qualcomm up to $70 a share. it would be comprised of 75% in cash it will combine two of the largest makers of wireless communications chips creating a $200 billion company that's the biggest technology acquisition ever broadcom says it plans to move its headquarters from singapore to the u.s. encouraged by republican tax efforts qualcomm is trying to close t

. >>> wti rises above $56 a barrel for the first time since july of 2015 since the saudi crackdown could have big implications for the oil market. >>> president trump vows to work out trade problems with japan as he meets prime minister shinzo abe on the first leg of his asian tour >> i'm committed to achieving a fair, free, and reciprocal trading relationship. >>> two deals slide after sprint and t-mobile call off their mobile talks >>> good morning, everyone it's monday and we've got some macro economic data in the form of the eurozone. pmi for the month of october and it came in at 55 it was forecast at 54.9. just a tad higher than expected. definitely a little bit of a slowdown compared to what we saw in september when we saw 55.8. when it came to the german numbers we saw new orders, the fastest rate in 20 months. really painting a picture of a solid start to the fourth quarter. the italian services growth number, that was the lowest in the year doesn't seem to have a huge reaction 116.10 unchanged on the day. let's show you what's happening in terms of the equity markets roughly on

of wti was benchmark up around .5% a while ago. >> you mentioned trump's trip to asia.had strong words about trade? text yes. he called the trade not fair or open. he slammed the trade deficit and you will recall that after his inauguration, trump told the u.s. out of the transpacific partnership, a trade deal that did include japan. he defended that decision today and finally, in a news conference with shinzo abe, he bragged about the u.s. superiority. take a listen. >> japanese people are thriving. your cities are vibrant and you build one of the worlds most powerful economieses. is as good asf it ours, i think not. ok? and we will try to keep it that way. but you can be second. >> we talked before about saudi arabia. the crackdown on different big businessmen. -- man >> the most appropriate -- the most high profile of who has been arrested. he is considered the warrenen buffett of ararabia and has a lt of investments around the world. we take a look at where the money lies. >> he is the international face, considered the warren buffett of saudi arabia. he owns famous

we are seeing upside because of wti and energy stocks. has in one ofr the most consistent performers throughout many cycles. almost 100 we are months into the recovery, we like consistency. the consumer play to us is a good one and we would not be frightened off by the affective amazon. a lot of what is happening the last year has created better valuations. vonnie: you are talking on the equity side? >> yes. vonnie: thank you so much. i bet he is going shopping and we have shopped a little already. vonnie: time to check in on first word news. taylor riggs is here. taylor: is the deadliest single attack in egypt in years, at least 235 people were killed when militants armed with guns and explosives stormed a mosque. the attack happened in the northern sinai peninsula. the area has been the site of a number of attacks by local islamic state affiliates. the egyptian president says the assault will not go unpunished. the united states has condemned what it calls today's carter thicke terrorist attack and offered -- called today's horrific ter

wti crude down to 57.64 still near the two-year highs we hit at the end of last week.his ahead of the opec meeting today and tomorrow as we got a bigger than expected inventory build here in the u.s., ice brent also lower, 63.24. nat gas up to 3.19 as we go into what is expected to be a cold winter looking at currency, we have the dollar weaker against the euro also weaker against the yen. the pound has been the dbig stor within currency, going back to the latest in these brexit divorce negotiations >> moved about 70 basis points yesterday when the telegraph and the financial times reported that story at about lunch time here yesterday, adding another half percent decent.25% move over the last 24 hours. turning to politics, the senate budget committee advancing the 1$1.5 trillion tax plan the stock market cheering the move good morning to you, jimmy interesting to see such resounding moves in stocks yesterday. banks, small caps all reacting strongly clearly this is a positive development we saw yesterday, but still plenty of senators opposed to it. >> there are senator

there is a risk to oil now and .he risk to wti that is partly because the u.s.rel next year. 80% of demand. you buying now? kate: they break even a $30 oil. that is how we have focused for a long time and we look for creative ways to get into that. we do not focus on 90% majority operating assets. we look at situations where other people's trash is our treasure. alix: wow. such a pleasure to have you on the show, kate richard. if you want to know more, join me tomorrow at 9:00 p.m. eastern for an hour-long special. what its impact will be on the world. it is for oil nerds and nonoil nerds here do not worry. 9:00 p.m. eastern, this is bloomberg. ♪ jonathan: in an exclusive interview with bloomberg news editor-in-chief john, the president discussed his outlook for argentina he expects inflation to slow to 15% by the end of 2018. he was also asked about salary increase negotiations for unions for next year. >> central-bank? >> yes. runs the monetary policies and they have a target. minas or plus two. we think we will be around 15%. or thirde the second step because

seeing a long-term turnaround in wti crude oil, which you can see in this etf.f that we have a long-term inverse head and onlyders, and that is not absolute terms, but relative terms. 500,s divided by the s&p and that ratio has cleared its 200 day moving average, showing that isg-term reversal manifested in wti prices. also put together a terrific s&p 500 chart using the cloud. can you take us through this one. >> it is the shaded area on the chart. support,way to derive a great gauge of downside risk when we have these corrective phases. red iser boundary in about 2% below the s&p 500. for the nasdaq 100, that would be closer to 4%. to me, that is a nice gauge of short-term downside risks. >> a little more pullback, then perhaps into of the year rally. back to you. julie: great work. up next, the fifth round of nafta talks without the top trade officials. negotiators arrive on friday. the concerns are that reaching a deal won't be imminent. we will be discussing. from new york, this is bloomberg. ♪ ♪ >> i am mark crumpton with first word news. president trump s

wti importantly, the entire in something that has not happened for three years.a look at the chart behind me, you can see what a difference this is. that will be music to opec's ears since the group is trying to clear the inventory glut. one thing to watch out for is positioning. we know there is a record long position in crude. this gets to the expectation building point, but we have also seen in the most recent weeks, with a little bit of shorts returning to market. hedge funds beginning to build up their short positions ever so slightly. the question whether that is profit taking our if they think there is a potential that opec disappoints at next week's meeting. manus: that consensusbuilding program goes on in the background long before the oil .ver gets to vienna it's trying to quantify the risk of disappointment. no complete commitment as yet. what do you reckon the risk is of a disappointment at opec? >> you've got it exactly right. the market is basically expecting perfection from opec. it's focused on petition patient of non-opec members -- focused on pa

individual stocks moving quite a lot. 10 spread is back above 60 basis points and wti crude is headed58 a barrel. this is bloomberg. ♪ who knew that phones would start doing everything? entertaining us, getting us back on track, and finding us dates. phones really have changed. so why hasn't the way we pay for them? introducing xfinity mobile. you only pay for data and can easily switch between pay per gig and unlimited. no one else lets you do that. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit or go to xfinitymobile.com. or a little internet machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com. scarlet: i'm scarlet fu. this is "bloomberg etf iq." riskcus on

wti, oil prices hit a two-year high.st month and second month contracts, it is an backwardation so we are tighter in the present month than in the future. is that sustainable? javier: the main reason for that is where suffering in u.s. as the keystone pipeline is shut down. it links the production areas from canada to oklahoma for u.s. crude. it was shut down on november 16. there was a leak. we're losing 1600 barrels a day. there is pressure to draw inventory from every refinery that was sourcing crude oil from the refinery. wti slipping into backwardation for the first time since december 2014 and the price has gone to a two-year high. i think that is related to keystone. great to see you. javier bloss. as. coming up, the u.k. item budget will be out. we will bring you the latest. markets, two hours away from the opening bell. story as follows. equities a little bit more positive. dow futures up. s&p 500 futures up three points. ♪ jonathan: two hours away from the opening bell. a shorter trading week with enthusiasm fo

it depends which price you want to use, brent is in the 60 or wti is in the high 50s. a much better number for oil producers, whether thatis number for oil producers, whether that is individual companies particularly in the us and elsewhere but also oil—producing countries very much need those revenues. and they have suffered quite a lot, some having to completely rethink their reliance on oil and they might be taking a bit of heart as a result of this. that's right and there is also support from opec with another meeting coming up on thursday and it isa meeting coming up on thursday and it is a question of whether they can agree to prolong their cuts into early next year. great to have you with us, thank you for coming in and we will see you later. we'll get the inside track on the signals the latest us fed minutes give us on the world's biggest economy with our friday editor, andrew walker. you're with business live from bbc news. one of britain's biggest brewers has warned of economic uncertainty in a "tough and highly competitive" market. fullers owns hundreds of p

the transportation costs .f wti to other regions vonnie: the u.s.ollar trading above 95. >> it is the idea the fed is being taken seriously. you have the ecb to continue to wind back. membera board governing say there is substantial accommodation needed in the ecb. a march rate hike next year, in the last month, going from 20.5% to over 40%. the fed is being taken seriously. the democratic party in japan won against securing that. if you want to be long currencies, it is only the u.s. dollar. i expected to grind higher, but not scream higher. vonnie: thank you. mark: still ahead, bracing for a battle. an unsolicited offer for qualcomm. bloomberg was first to report this. more on this brewing megadeal next. this is bloomberg. ♪ vonnie: this is bloomberg markets. imf on vonnie quinn. ink: i am mark barton london. the u.s. supreme 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 stepp

on the wti contract.ng at the bond market treasury yields grinding a single basis point higher. we have a nice did in peripheral bond markets in europe. tenure portuguese debt trading south of 2% for the first time since 2015. in the fx market broad-based dollar strength. that's the story across assets. let's get you some headlines. president trump called north korea a threat that is a danger to the entire world. the president met with south korean president moon jae-in. he called on them to stop doing business with north korea. the president said it's time for kim jong-un's regime to come to the negotiating table. japan is talking with the pentagon about lying the business with north korea. theadvanced ages missile-defense system. it could take several years to complete. president trump urged japan to buy american-made weapons. gunman in the texas church should may have been able to slip through a background check to buy the weapon he used in the massacre. the air force failed to report the attackers 201

shares up a seven points on the asx 200. 28 month highs for wti.ay, it is japan culture day in the country. the yen still trading above 114, against the dollar. key to watch is the kospi. we definitely could see up pullback on thursday. betty: let's get the first word news with courtney collins. >> first up, alibaba continues to power ahead, even after adding $250 billion in a market value. it is raising its full-year outlook for revenue growth after sales rose 61% in the three months through september, the fastest pace since listing in 2014. alibaba diversifying investing in the cloud and ai as well as brick-and-mortar stores in china. the stock is up almost 90% in the last year. apple jumped in after hours in holiday period sales forecast that exceeded estimates. they expect robust demand for the iphone x, the most important product in years. apple says the device will help push sales to $87 billion in the final quarter. the previous high was $70 billion in the holiday quarter of 2016. broadcom of the latest indeed president trump's calls to retu

that wti crude is above $57 and its highest since 2015. would expect a vti and brent to rise in tandem. let's look at 3122. people are saying we do think a nine-month extension will happen , there are some bears out there. chart seeing that in 3122. this. on the right-hand side is up to 4.3.w come the last time that happened was the early part of june 2017. the higher this goes, the more is out there,ere people thinking if it does not happen, we bore lock in prices now. goldman sachs putting it milder saying that while the this suggests some rising concerns, it does not reflect a high risk premium as we head into thursday. finally, 8881. we can not talk about the u.s. shale. and while that one pied closes, another pipe opens. opec is represented in the white lines. this is negative production down. in the yellow line, u.s. shale rising to a high now. definitely trying to take market share as oil prices rise. those are your three bloomberg charts on oil. paul: thanks. coming up next, we are counting down to the bank of korea rate decision.

at around 10% for wti. speed on some headlines outside the business world with emma chandra. emma: thank you. republican leaders are hoping the third time will be the charm for repealing obama care. the move could complicate calculations in both chambers of congress. twice already th this year, tried and failed to repeal obamacare cared in the u.k., prime minister theresa may is having a showdown with members of her own conservative party over brexit. dominic greene says he will stop may's proposal to write brexit into law. the eu andwill force others into trees even if there -- intoal on a trading treaties, even if there's no deal on a trading relationship. a broad range of candidates is in the running for mohamed the fed job, including mohamed el-erian. global news 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. i am emma chandra. this is bloomberg. jonathan: thank you. he is also a friend of this program. what a nonstory, the fed story, is turning out to be. jay

out the shale producers. , theird dollars a barrel vti, you bring in canadian oil at $65 a barrel, wtibring in canadian oilsands. mark: what is your key takeaway? ira: more shale oil coming out of it and more demand here they are looking at the year 2040. they say we will kick up oil demand, primarily from china and india. who is to argue with that? the only thing that those that after the world recession and the market gets a setback. alling that, it looks like systems go, even with the technology out there with electric cars. a tried to drive 1000 miles in an electric car from point a to point b. not easy. mark: interesting report from google transit buses bitcoin surge is attracting interest towards cryptocurrency and away from gold. what do you make of that? ira: i believe it. the du quoin has nothing to do with the storage of value. the point is how do you hide money. it is that simple. the reason for these cryptocurrencies is illegal. it is not a storage of value. i want you to hide my name -- that is what it is. with moreorld, regulation, it will be different. bitcoin is getting

vonnie: let's start with wti close to $57 a barrel. we have not seen that in a while. not just on meetings this week. it is the headlines that have come out on the middle east. calm from that, the vix is at 9.5. down0-year yield is back at 2.33%. the central bank part of the story is calming frayed nerves. some of the countries in the news are having a good day stock wise from russia to china. currency wise, some of the currencies strengthening our the are the ruble, the brazilian riau. it is clearly coming at the expense of european currency. mark: another change of leadership at the fed. the new york fed announcing bill dudley will resign in 2018. the e.c.b. chief economist defending the approach to removing stimulus. let's bring in mark ashworth. if janet yellen leaves the fed, there will be four fed board positions to fill. that is quite a lot. >> there is quite a lot. there is the possibility she could stay. that is happened before. -- that has happened before. a lot of people need to come on board. mark: if he is neutral, the other three might not be. fisher migh

this shows you the relative strength index for wti, hovering above the levels. u.s.il and gas stockpiles added to the drawing to crude prices. -- to the drag to crude prices. you have toyota climbing after it raised its annual profit forecast a second time this year. yet pricedost is not in. mitsubishi motors following -- voters falling. switching to south korea ahead of president moon sitdown with president xi jinping, keep an eye on korean companies that have been caught in the middle of seoul's year-long spat with china over thaad deployment. thatline in purple is kapok factory. -- the k-pop factory. hyundai motors have been looking good. sales have improved considerably in the years since september, after a pretty sluggish first half. yvonne: thank you. let's get to our top story. a dramatic change in tone as the trump tour of asia rolls along. the president has toned down his rhetoric on north korea, and calling for direct engagement on kim jong-un's nuclear program. we saw a headline, the president has scrapped plans for a surprise visit to the dmz. let's get t

coming up, wti crude slipping below $50 a barrel. thisnventory is due later hour.utures in focused, next. this is bloomberg. ♪ ♪ mark: live from london, i am mark barton. 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 will see more producers come back to the market that have left and see profit margins that allow them to come back in one below $50 did not. vonnie: how closely are you watching the dollar movement? at one points, there was a stro

>> many people say it's $60 wti is where you will see more shale producers and an uptick in output.ple say that the u.s. government is overestimating how much currently is being produced. it remains to be seen exactly how high the oil price needs to be. at $50, you are seeing economic production in places where costs are very low. to see the whole industry come back to the levels they were in 2014 would require something north of $65. vonnie: among the top movers in the s&p 500 today with lower volume are some of the oil companies up about 2%. that's tina davis and we thank her joining us. nekatr ae, shares of reversing a loss of almost 6%. taylor riggs is here to tell us why. taylor: they had a phase three agreement to work on intubated orr mechanically ventilated patients with a certain kind of pneumonia. what's interesting is that buyer shares were only off about half of 1%. bayer is a huge company and this is just a blip on the radar. nektar pharmaceuticals were down as much a 6%. investors are right on this one. nektar is more of a chemo company and not a respiratory company an

september, both print and wti are up 15%.re still a little to be excited about. gap should be at this moment -- thank you. you can get a roundup of the stories you need to know to get your day going in today's edition of "daybreak asia." subscribers go to dayb . it is also available on your mobile. customize settings to get news you care about. this is bloomberg. ♪ yvonne: this is "daybreak asia." i am yvonne man in hong kong. ramy: i am ramy inocencio in new york. airbus said to steal one of the biggest aircraft deals in history. they are nearing an agreement with indigo partners for 430 narrowbody jetliners. we have been tracking this. this is a lot of planes. wondering ifto be this is a deal that will be going through or not. lostunds like we have just her, we will try to get her back. in the meantime, a quick check of business flash headlines. yvonne: citigroup and ubs exposed to the assets of wealthy saudis, some of home under investigation for alleged corruption. jpmorgan in credit suisse high on the list, managing

julie: speaking of oil, wti crude is trying to make a comeback today.t's taking a little bit of a leg up. we will dig into it. futures in focus is next. from new york, this is bloomberg. ♪ mark: live from london, i'm mark barton. julie: i'm julie hyman. this is bloomberg markets. time for futures in focus. oil is trying to make a little bit of a comeback. a hit after taking the u.s. day said that sales of corn exports fell last week. joining us from the cme is ted seifreid. thank you for talking to us. let's start with oil. it seems as though there is now some question as to whether russia and opec are going to indeed extend their production cut. what scenario do you think is priced in right now? >> it's a funny thing what happens when prices rise. i think the part market still has priced in that opec is going to extend freezes through the end of 2018. that's really what everybody has been leaning towards. there's always going to be some questions because opec is very volatile by nature. that's what the market has priced in at this point especially with

wti also climbing on that inventory data. >> we are well into the high 50's now.were hovering around that mark. the inventory data was more bullish than expected with some optimism going into the opec meetings. at westhere is a look texas intermediate, the new york-traded oil, entering contango. that is being viewed as bullish, at least locking us out of the range we had been in for some time. >> thank you. su keenan live from new york there. let's get to first word news with courtney collins. uber is facing at least three investigations abroad and calls to testify before congress. in reaction to the covered up data breach. private watchdogs in italy, the of. are looking into a lack adequate security, while the federal trade commission in washington is being urged to state in. -- to weigh in. the chances of a new grand coalition in germany seem to be rising with senior members of the social democrats thinking they could name their price for rejoining chancellor merkel's team. others are adamantly opposed and prepared to face a new election. the chancellor has rule

crude prices, wti around $57.50. >> we are up another 55. yeah, market was up 255 yesterday.hink if the market was down 255. think of what we would do with 160 point observe a down day or 190 -- >> as far as the sentiment in this market right now, if the market were to go down -- >> we take it in stride when we hit new records. >> yeah, the market is going up. maybe it's powell or tax reform. that's 300 points this morning, if we went down 300, you would be -- every newspaper, they would have picture traders going -- >> stock shot. >> stock shot. >> is that what they call those? >> stock shot. >> stock photos. >> not about stocks. >> no. >> about something that you got on file that was not taken yesterday. >> it was taken yesterday. the same guy who just always puts his hand over his head. >> maybe i've seen on twit their there's a whole bunch of, like, little -- what with those things >> gifis >> maybe that's what they are. >> people use those to show surprise or satisfaction is there a stock guy looking -- >> we should have a set of "squawk" gifis >> we could have had a cou

if we go into the $60 range on wti, you will turn back a lot of producers.term, they are much more geopolitical implications that we want saudi arabia to get through this peacefully, to weed out the corruption and make the transformation from an extraction society to a global economy. neil: this looks a little weird to put it mildly. you know, tightening its grip on power, getting rid of or, you know, containing jail and some of his rivals in the kingdom, family members the lot of them. that doesn't sound good, but play it out. >> well, certainly he is stretching a little bit and peddling political scores and there is a part of this that is enriching his own base in his own power at the expense of rivals. but i do think he really is serious about wanting corruption. neil: you don't think it start of a revolution or saudi arabia, just heard a going sort of like what egypt did with the spring uprising or anything like that? >> no. but if it is not handled properly, first of all if there is no change, there will be a revolution because saudi has got a lot of th

shale will be looking at that wti price. seen an uptick in drilling rates as a response to that. we had it point out -- 9.5 barrels -- that will be of concern. the minister brought shale experts to see what they thought. there is a mixed message. vonnie: kind of ironic. >> they are interested. they won't give away the shore and let u.s. soak up all of the market share. for joining us. it is time for our latest bloomberg business flash, a look at some of the biggest stories in the news right now. mastercard will hire 470 people as it expands its technology help in new york city. the company plans on adding the new jobs by 2024, and will move to a new location in the flatiron district. it is part of mastercard's strategic push from debit and credit cards to gadgets. consumer spending cooled last month after the biggest increase since 2009. prices rose 3/10 of 1%. groups, .4%ncome for the second straight month. consumers are likely to drive economic growth this quarter. that is your latest bloomberg business flash update. anoth

one of the underlying reasons why could be the turn-up that we have seen in wti. andprices spiking earlier, they remain higher by more than 1%, getting well above $57 per barrel. there could be a few things going on. first of all, according to the state-run saudi press agency, saudi arabia has advised its nationals not to travel to lebanon and for those who are already there to leave as soon as possible. once again, sparking concerns about potential instability or conflict within that region. how would that affect supply? that is feeding through to the oil price. we got a report from the "wall street journal" that the u.s. treasury will be announcing more sanctions on several top venezuelan officials. we saw energy stocks come off the lows, though they didn't quite turn higher. in terms of underlying things in the market that we are watching, take a look at the bloomberg. still looking at the vix. it is down in the dumps, near record lows, as we've seen volatility collapse. this index which looks at the volatility curve, and someone argue is more a proxy for large

pricesg it out with oil this morning, a significant upward move in oil trading close to $58 a barrel for wtithat is after we got the industry report on we the inventories in the u.s. last night that showed a larger than estimated drop of more than 6 million barrels. coming up in about 30 minutes, we will get the u.s. official data to see if it does confirm what the api reported last night , but it to has been an impressive week for this run in oil prices. mark? mark: julie, what a day we are having. the third day of gains, the best run since september. it is budget day here in the u k. ftsetle chart for ftse, 250, all rising and holding on to gains in the wake of philippines's budget. the budget. they fell, rebounded, gaining for seven consecutive days. the highlights of the budget, we are seeing 2018 economic growth of 1.4%, against the 1.6% predicted as a product of the revised productivity data. growth is expected to be lower than forecasted every year through 2021. on brexit, the unexpected set aside 3 billion pounds to prepare for all brexit outcomes. sterling rising for the seventh con

what will it take, how long will it be before we break 60 or wti?i think for the economic impact when you see the economic growth is what i really meant, and when you look at global economies and it continues to see the growth it could lead over to the pop over 60, and if the reductions are adhered to. mark: on the gold front, we are stuck in the range. big events coming up, the fed rate decision, a possible government shutdown, is that what you are looking ahead to to maybe pushes up? dan: possibly, gold has been coiling for the better part of a month. noween the 1270-1295 range, we are going back onto the lower end of the range, partially because the equity market is now breaking out to new highs and of puts short-term pressure on gold, but ultimately when you look at what is going on i think that the race we are in it will be difficult to break out unless we see some geopolitical unrest, something further than what we have experienced at this point. mark: great job. see you soon. dan deming with today's featured focus. vonnie: thank you. time for

little bit of a spike in the past few minutes, from the above 57 dollars a barrel is where we are on wtiwhile gold is climbing for a second day on tax returns -- joining us from the cme is bob iaccino of path trading partners. you do seo. we went steady on oil for most of the session. seeing a little spike. why do you think this is? chino: yet he did not iaccino: eia- bob did not disappoint. producers are on a trading schedule. this is a thing i know from having been involved in the physical market. they look at what happened overnight, in brent. saudi arabia is trying to convince people this is not a big deal in the market does not believe it. we rallied, got 3.5% in two days. it is not pulled back. they are trying to point out personal assets, not commercial been frozen. the market does not believe it. we see hedging in the structured products. that says crude oil prices are in the higher commercials, physical producers are taking advantage of that. nejra: right, and if we look at gold as well, bob, you say you're not that interested in gold at the moment. it is true where we are on th

trend reducing prices go back to 50 for wti?not that far although it has been a disappointment the market could be sensitive to us given the run-up in the lead up to this meeting even though the expense of weakness this week. prices have declined a long way on expectations of another agreement. cheryl: before we let you go, how to ask about north korea. the meeting yesterday in new york, the european markets are closely watching what north korea is doing and the missile test. what are you hearing? >> even though people are watching it politically very alarming from a larger perspective, found almost no impact unbelievable with south korea's kospi barely budged. markets are really comfortable in general. cheryl: river gold, thank you. let's send it or

wti is stumbling of it. ahead of the opec meeting in vienna. members, practically the outline of the deal. out crucial details. >> bloomberg has been tracking we arele revolution and joined from the shale expo. >> they -- they have their own sensitivities about how they react. sticking today. we don't seem to be sure on what shale is going to do and their sensitivity is either. the first part seems like an extension is a done deal. quotas front and center. be that can move around and bigger impact. russia has a presidential election in march of 2018. it becomes a really big question. >> geopolitics are coming into play here as we look at how opec, not many play the situation to try to get things sorted out. >> if you look at brent a kind of if you get event shaping up from the if you lookwnside, at the tension between saudi arabia and iran, they are bananas. saudi arabia is saying iran has the next hit low. -- next hit with. saudi arabia is saying iran has the next hit low. -- next hit low. that tends to be sideswiped. eswiped. . and for differ

in terms of how the regional index is faring, wti crude holding at about $54 a barrel.e bit of switch out of consumer staples in financial stocks. have a look at honda shares in terms of japan. they have been rallying. we have seen good moves coming through after it raised its profit outlook. we are live from london at the top of the hour for "bloomberg daybreak: europe." this is bloomberg. ♪ emily: after weeks of waiting, the public got a look at the alleged russian link ads that appeared on facebook, twitter, and google to influence the election. according to mark warner, there is more to be worried about than just these ads. >> these ads are just the tip of a very large iceberg. the real story is the amount of misinformation and divisive content that was pushed for free on russian backed pages. which was then spread widely on newsfeeds of tens of millions of americans. emily: joining me now to discuss , a republican digital strategist who worked as a digital political strategist at google, where his team worked with politicians on how they could best use google in th

wti trading just below $58 a barrel that has to be the highest level we've seen in quite some time. 57.95>>> we have some breaking news out of asia. a u.s. navy aircraft carrying 11 crew and passengers crashed into the sea off of okinawa, japan it was on its way to "uss ronald reagan." eight people have been found the search and rescue efforts for three additional people continue. >>> gel season stickijanet yell her prediction that the u.s. economy will rebound, and she is open to the chance that polices cou prices could remain low for years to come. >>> and back in the u.s., a trio of economic reports on the economic agenda. weekly jobless claims and october durable goods at 8:30 a.m. eastern, followed by the final read of november consumer sentiment at 10:00 at 2:00, minutes from the fomc meeting. just one notable earnings report today. deere will post results before the opening bell. >>> uber is reporting a cyberbreach nearly a year ago exposed the personal information of 57 million users and drivers, and then the company paid the hacker $100,000 to delete the data and keep the breach