this is bloomberg. ♪ xit. this is bloomberg. ♪ francine: this is "bloomberg surveillance." i am francine lacqua here in london. now, the u.k. and eu negotiators have discussed a last-minute brexit deal this week, but sources say it is too close to call. differences remain. meanwhile, boris johnson has expressive or vote by 55 of his colleagues. the pm wanted to vote on new pandemic rules, it is clear he cannot rely on his own party to back him up, especially as the u.k. heads into winter months. still with us, alberto gallo from algebris investments alberto, first of all, are you expecting a deal? alberto: one of the silver isings of the u.s. elections now we have a u.s. administration from january that won't support brexit. so i would say that balance has definitely shifted to give the eu the upperhand here, on top of the internal dissent that boris johnson is facing. so we do expect a deal. we think that, overall, this could unlock some capital to go back into the u.k.. u.k. assets generally have been very, very much involved, over the last decade, a lot of asset managers

this is bloomberg. ♪ ♪ >> this is bloomberg surveillance. we are just getting some headlines from boris johnson who is giving a television interview moments ago in westminster where the prime minister himself was treated for covid back in april. the prime minister is saying he faced -- he talked about the vaccine saying it something we need to keep an eye on in the vaccine will take weeks and months, not days. today was the first time someone took a vaccine shot. the prime minister also talking about brexit. he said leaving the eu is a big opportunity for the u.k., there are limits, he says, on how far the government will go on these talks and at the moment the trade deal is looking difficult. a tricky moment to negotiations is how he quantified it. this is what we've been hearing on both sides. it seems we are at the 11th hour, we also understand the prime minister will travel to brussels to talk to the commission president. let's get to another top story. 90-year-old margaret came the first person in the world to receive the pfizer biontec

we discuss that next and this is bloomberg. ♪ francine: this is "bloomberg surveillance." has approved the pfizer vaccine with doses expected by year end. planning its post-covid future with a $39 billion future with alexion pharmaceuticals. news of the bill have shares tumbling to any month low. the stock was already under pressure over the efficacy of its potential covert vaccine. running us now, sam fazeli, director of research of emea. first of all, good morning. why did astrazeneca feel they needed to do this deal? sam: good morning. bit of aually a surprise to me, at least, and as you can see from the market reaction, in the market, too. this was a company that was growing the best growth rates as any large pharma out there, and then they announced this deal. to me it is a financial thing. issuing shares to buy cash flow for the future. they are buying a decent stream of cash flow until at least 2025, and they have got a highly rated paper. they are using that to buy a much lower rated paper. to me it is a financial thing, and also prices of buying fits. overall, whe

this is bloomberg. ♪ s is bloomberg. ♪ francine: economics, finance, politics. this is "bloomberg surveillance." i'm francine lacqua, here in london. let's get to bloomberg first word news with leigh-ann gerrans. leigh-ann: facebook is being sued by u.s. antitrust officials and a coalition of states who want to break up the company. they are accusing it of a legally crushing competition and want to unwind its purchases of instagram and whatsapp. the complaint is revisionist history. have liftedpoland their veto over the use of a landmark stimulus package. that is in exchange for a delay in the sanctioning process that could strip them of the funds. the two countries opposed tying sections cannot be triggered before the european court of justice has them -- has a say on the rules, and that could take them more than a year. china plans to sanction more u.s. officials and place new travel restrictions on american diplomats. the move is in retaliation for measures taken by the trump administration over hong kong. china did not provide the names of those it is sancti

this is bloomberg green -- bloomberg. ♪ vonnie: this is bloomberg markets. time now for our stock of the hour, which is tesla. goldman stocks upgrading the vehicle maker. he still maintains his shorts. he gave details to scarlet fu. >> we still do have a position. painful,s been clearly, but i will say, for the first four years it was actually not a bad short. it went sideways while the market went up, a lot. and so, those are the kind of shorts in a bull market you hope for, right? the market is going up, and our shorts are not going up. last 12 months, it has been a different animal, as you know. six fold, and we have had to risk manage it love -- like anyone else. vonnie: abigail doolittle is with us here now. it looks like there might be some capitulation around tesla? abigail: capitulation, indeed. goldman sachs upgrading at to abide. jim chino talking about the pain. we have a chart that exemplifies this. actually, this is a little bit different. this is tesla playing catch up to where the analysts are. you can see the stock is now quite a bit above wh

this is bloomberg. ♪ ♪ matt: welcome back to bloomberg markets. this is the european open, 30 minutes into the session right now and looking at an all-time high on the dax index. european stocks are trading today on the continent. u.k. is not trading today. they've been given the day off for saturday's boxing day on this monday. here, is he stocks euro 600 index gaining 6/10 of 1%, up to 398.40.00, 809.dax is almost up to 13, actually, i see it up 1.6%. sorry, 1% over five days. today's gain is 1.6%. an the level, 13,809 is all-time high for the german benchmark index. so, being powered by delivery hero, as well as a chipmaker and deutsche bank. those are the top three gainers. the dax rises to an all-time high. let's get to bloomberg first word news. here are today's top stories from the bloomberg terminal. president trump signed a $900 billion relief bill signed by congress. he's backing down from demands that lawmakers change the bill before he signed it. the president is still calling for a vote to increase the $600 check the bill provides to

this is bloomberg. good morning. ♪ francine: this is "bloomberg ." tom and francine from london and new york. authorities have detained a bloomberg news assistant in beijing on suspicion of endangering national security. on monday, haze fan was seen escorted from her apartment building. according to security officials, she is a chinese citizen stop officials say her rights have been fully insured and her family has been notified. citizens are not allowed to do independent reporting. a spokesperson from bloomberg says the company has been speaking to authorities to get more information. let's get an update from john micklethwait. this we found out recently. what do we know happened? john: what we know happened is that at 11:30 monday, that was our last contact with her from an editor's to view. late that day -- from an editor's point of view. escorted day she was from an apartment by plainclothes officials. since then we have been doing our best to try and find out exactly where she is, what's happened, to try to get her back. hayes is aery clear, ver

this is bloomberg. ♪ ♪ francine: this is "bloomberg surveillance." as we continue to track the virus, bloomberg has developed a partnership with johns hopkins, at the forefront of the international response. every day we bring you insights from public health and emergency. miss. joining us is entered -- and emergency preparedness. joining us is andrew pekosz. professor, thank you for joining us. what will the holiday look like for people on the front line? andrew: case numbers continue to increase across the u.s. what that means is that health-care workers on the front are are going to -- going to need to spend a lot of on the front line instead of with their families. it is import to understand that it is the human power that is important at hospitals. it is not just the number of beds occupied. it is how many people are available to take care of those individuals that are sick. this pandemic has taken a real told on health care workers in terms of them getting sick and how much stress they have endured to deal with all of the severe cases coming th

this is bloomberg. ♪ francine: this is "bloomberg surveillance." let's get straight to the bloomberg business with leigh-ann gerrans. leigh-ann: airbnb shares more than doubled in the home rental platform's debut, one of the biggest first-day rallies on record. airbnb's market values makes in the world's biggest online travel company. this a day earlier, doordash started with its public debut, adding to the rush of year end ipo's. the carmakerrdered to halt logging at a construction site, asking delays to his first electric car factory in europe. the temporary halt is meant to give the court time to examine claims by environmental groups, who are saying the u.s. companies not doing enough to protect local lizards and snakes. gary cohn refusing to return millions and pay to goldman sachs, but he has come up with a workaround. he's giving the money to charity. the bank is demanding he returned more than $10 million to demonstrate accountability for the company's involvement in a scandal that cohen refused -- in a scandal, but cohen refused. he said h

this is "bloomberg surveillance ," live on bloomberg tv and bloomberg radio. i'm carol massar, alongside matt miller. jon ferro, tom keene, and lisa

this is bloomberg. it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? delegating? oh, good one. move your xfinity services without breaking a sweat. now that's simple, easy, awesome. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. - hey. - [narrator] she takes two prescriptions. kate's son jack, takes one too. kate works hard, and thought she had good insurance. but she still pays too much. that's no good. so kate downloaded the goodrx app. now she can compare prescription prices, to find the best discounts. she even beats her insurance price. good for you kate, good for you. goodrx, stop paying too much for your prescriptions. download the free app today. ♪ kevin: this is "balance of power " on bloomberg television and radio. i'm kevin cirilli in washington, d.c. taylor: i'm ta

this is bloomberg. ♪ this is bloomberg. ♪ ritika: this is "bloomberg surveillance." i am ritika gupta. reportedk, carmakers their lowest november sales in 12 years. registration plunged 27% from a year ago. caseser of coronavirus soared. the administration is accusing facebook of discriminating against american workers. the justice department said the social network designated thousands of positions for foreign workers with h-1b visas. shares of china's third-largest oil company fell to its biggest weekly lost since the oil crash in march. the pentagon added the company to a blacklist that exposes firms to heightened scrutiny and intentional u.s. sanctions. the move is likely due to companies drilling for oil in the south china sea. francine: thank you so much. we continue to track the virus. bloomberg -- vaccine with the u.k. earlier this week. there were questions from dr. fauci in the u.s. as to whether they had been too quick. your thoughts on that? >> the data that was submitted to the u.k. and the united states fda are the same sets of data. there is one mitiga

this is bloomberg. ♪ this is bloomberg. ♪ vonnie: this is bloomberg markets. 'm vonnie quinn in new york city. debate over the stimulus continues in washington. some u.s. cities are tackling he issue of poverty with a guaranteed income program. one of those cities, stockton, california. n february, it started a program for 125 residents living at or below the median income with about $46,000 a year. joining us now is the mayor of stockton, michael tubbs. tubbs, thank you for joining. first, give us the statistics in the last few months during the pandemic. hey make for a chilling reading. mayor tubbs: stockton, california, is the largest city san joaquin county. 8% of all deaths in this city covid-19.ecause of it's a city with about 315,000 people. 20% -- 22% at poverty. nother 30% to 40% one paycheck away. a city full of resilient, brilliant people, many of home workers, many who work without the dignity of paid time off and other protections. that's why some of our basic ncome programs has been so important. while waiting for action from the federal governme

this is bloomberg. let's check in on the bloomberg first word news. americans may start getting vaccinated for the coronavirus as soon as monday, according to alex azar, who tells abc news that they have been authorized to use the vaccine from pfizer and beyond tech. london beefing up covid rules and launching more testing. the mayor is trying to avoid having the city placed under tough virus restrictions. they had the highest rate of cases in england, putting the capital on course to hit tier three, closing all indoor entertainment venues. authorities in china have detained a bloomberg news assistant on suspicion of endangering national security. a chinese citizen was seen being escorted, escorted from her apartment building on monday by plainclothes security officials. officials say the cases under investigation and her rights have been fully insured. a spokesman for bloomberg says that the spokespeople have been eaking to authorities to find out more. european regulators are wondering whether to cap payments to 20% of profits and it could last thro

this is bloomberg. ♪ vonnie: this is bloomberg markets. investors have lots to consider with the fomc announcement at the top of the hour and a potential deal on a u.s. plan this week as well. joining us now is christine todd, head of u.s. fixed income. doe us the headline, what you anticipate from the federal reserve in terms of bond buying and how it might change the program and whether the 10 year yields will be below 1%? >> i think the theme of today's announcement will be transparency. the things that won't be a qe,rise, the amount of congress to support state and local governments and repositioned gdp and inflation and appointed upward. what is interesting in the dots and the economic projection and what that might say about the skew and whether the risks are more hawkish or more dovish. both could freak out the markets. more dovish might hurt the dollar and more hawkish might create some sort of taper tantrum expectation. reallyk the market is expecting something in terms of the maturity of the purchases of qe. why is the curve so f

this is bloomberg. this is "bloomberg surveillance." we are delighted to be joined by an assistant professor at new york university school of medicine department of population health. thank you professor langford for speaking to us today. we see a lot more lockdowns in europe. we also have a vaccine. what will the first six months of 2021 look like? prof. langford: i hope it will be very inspiring with the vaccine rollout. that what we have learned so far in terms of getting the vaccine to the will provideuicker hope for us in the next few weeks and upcoming months. the new variant of the covid strain, it is important for people to remember that so far we don't know if the new variant will make people sicker or if it is more deadly. it is important people will wash their masks and -- foster hands, wear masks, and practice social distancing. francine: do we know it is easier to transmit? i live in london and there are or restrictions because of that. how does it change the way you should live until more people get the vaccine? it appears

"bloomberg surveillance." we welcome all of you on bloomberg radio, bloomberg television. a christmas eve simulcast. all of the bloomberg world getting ready for santa to make a visit. no one more than lisa abramowicz , who joins me here on christmas eve. just to start with the basic truth, this is the oddest

bloomberg anywhere app. let's get you a quick check of the latest business flash headlines this hour. things are looking up for boeing after a crucial deal for its 737 max from ryanair. it will add 75 737s to an existing order in a deal listed at $9 billion. the news comes as the first journalists,ll took a publicity flight from dallas. american airlines organized the event. commercial flights will resume. delta airlines is warning cash losses for the current quarter could be deeper than expected as the coronavirus resurgence continues to undermine air travel. deltek expects to burn up to $14 million a day, up from an earlier forecast of $12 million. the revenue will be 30% less than the same period last year, in line with earlier estimates. tesla pushed higher after winning support from the market. goldman sachs is bullish, upgrading the company. goldman raised its price target to $780 at the highest on wall street. there is support of a kind from the famed short seller. tessa forn short on five years but h

this is bloomberg. tom: thanks so much. deutsche bank out with some headlines. we will have more on deutsche bank through the morning. it is their investor day, and they look for a better tone. what gets my attention in terms of data in deutsche bank is their advantage by the alpha we are seeing now, october trading revenue up 10%. november trading revenue up a solid 23%. you see it in this great bull market. upures up 10, dow futures 1.09. the vix did not come in yesterday. it should be a 19 vix. it is not. it will be fascinating to see what the vix does today. 20.57. stronger, newso strength, 19.72. an honor to have augustine carson's with us. a couple of things on the banks. we expect that interview from deutsche bank chief executive coming out shortly. it will be interesting to know what he wants to do with the i.b. if there is any mention of some of the bonuses for traders in the investment bank. the other news story is that the chief executive officer literally just started, also faces an investig

this is bloomberg. tom: thank you so much. breaking news and down goes sterling over fish. kingdom'se united exit offer on fish. no surprise. rejected by european union officials and you see a sharp reaction in sterling. futures are negative. nasdaq 100 green on the screen and really buttressed right up near record highs on nasdaq futures. i will do currencies, lisa, and . leave. the bond space to you dxy index down from the hysteria of yesterday. yen, as i mentioned. euro back over 1.22. 76.rling, 1.33 euro pound, this is a bit confusing, particularly for early-morning americans. so much of the united kingdom and europe sets in sterling, that goes the other way. one goes up and wonders down -- one goes down. >> that was great. high-level cfa. i am looking at what we are seeing in s&p futures and what they are doing right now, which is not very much. i really wonder how much this has to do with tesla. in the bond space, you can see a persistent bid. . for bonds. me, interesting to see the dollar strengt

this is bloomberg. global news 24 hours a day, on-air and online on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm simone foxman. this is bloomberg. thanks. but skip to our top story. congressional leaders have to a 900 billion dollar plan to weather the coronavirus pandemic, though the legislation is being written and the house and senate will vote on it until it around. while this bill is far from perfect, nor is it the bill that we would pass if democrats had a majority in the senate, it is a strong shot in the arm to help american families weather the storm. the u.k. has been plunged into christmas chaos, with police blocking people from boarding packed trains, and travel with europe banned after a new strain of the virus rages. the new variant is out of control and we need to bring it under control and this news about the new variant has been an incredibly difficult and to frankly an awful year. yousef: let's bring in the managing director

this is bloomberg. ♪ is bloomberg. ♪ matt: welcome back. this is the european open. we are about 17 minutes away from the start of trading. futures right now are higher also if you take a look at the bloomberg u.s. dollar index, lower at 1120. that is an interesting theme. another huge one of late has been bitcoin, hitting record high after record high. the cryptocurrency right now up through $22,000. scott minerd of guggenheim investment saying it still has a fair way to go. take a listen. >> we made the decision to start allocating towards bitcoin when bitcoin was at $10,000. it is a little more challenging with the current price closer to $20,000. amazing over a very short amount of time how big of a run-up we have had. having said that, our fundamental work shows that bitcoin should be worth about $400,000. matt: it is amazing to hear him say fundamental, and then give a bitcoin valuation in the same sentence. joining us to talk more about that is dani burger. what is the biggest argument that you are hearing from bitcoin bulls other than just talking their book?

this is bloomberg. ♪ lisa: this is "bloomberg surveillance." still with us is wolfgango teneo intelligence director of research. we have the question of the 2.2 trillion euro plan that is being negotiated by the european union . some disagreement over whether that can go through. do you think from your vantage point people are too complacent about this passing given some of the disagreements inside the european union? there is an think element of complacency that is about the second stage, and i will get there. i think a question, deal will be eventually reached. when we look at the objection by hungary and poland, they are two different kind of domestic politics playing around this in both countries. the reality is that hungary and -- it is hard to see them saying no to that money. so it is a complicated negotiation. it might cause further delays down the line, but we will get there. when we look at the recovery fund, the complacency here is about the ability of countries to actually absorb this money and make the most out of that. on that fro

this is bloomberg. ♪ ritika: let's check in on the bloomberg first word news. it is a spending bill that has something for everyone. last night, the senate gave final approval to a measure that combines coronavirus relief with regular government funding and tax breaks for businesses. presidente aides say trump will sign the bill into law. it includes $900 billion in economic relief, the second largest such measure in u.s. history. most americans will get a one-time payment of $600, plus enhanced jobless benefits will be extended. it is another setback in post-brexit trade talks. the european union has we ejected the uk's latest offer on fishing rights. the u.k. proposed that the eu reduce the amount of fishing catches in british waters by about 1/3. last week, the u.k. insisted on a 60% cut. meanwhile, the european commission is calling on member states to reopen critical trade and passenger transport leaks to the u.k., while discouraging non-essential travel. the commission says any unnecessary journeys should be avoided until further notice. the british gover

this is bloomberg. ♪ vonnie: this is bloomberg markets. i am vonnie quinn and york alongside amanda lang in toronto. doordash shares pumping in their trading debut, after having already raised $30 billion in the ipo, more than anticipated. to discuss doordash and its arun sundararajan, professor of business at the nyu stern school of business. there are many ways to interpret this kind of share price. you would have to say that it was a successful ipo. arun: absolutely. it is a huge day for doordash. i'm happy for them. they are a great business. but i am surprised because there are challenges for this company to sustain the valuation the market is putting on them now. amanda: it does and may be speaks to the sentiment in the market at the moment. compare how you would feel about that, doordash and its success, and airbnb and how the market might value that? prof. sundararajan: doordash had an amazing year. the leap from where they would have been without the pandemic, the middle of next year because of the huge increase in their delivery

this is bloomberg. ♪ alix: this is "bloomberg markets ." you are looking at the principal room and you can catch a holly jolly celebration on bloomberg television at 7 p.m., friday, eastern time. don't miss that. this is bloomberg. right, more breaking news here on stimulus as details continue to trickle out, the white house is optimistic on a stimulus deal over the next 24 to 48 hours. a spokesman for trump said that he's adamant on delivering aid to workers and that it is the language on fema that is a roadblock on stimulus talks. usually you just hear about liability and state and local aid. looks like the white house is optimistic of a deal over the next two days. remember, looking at the nasdaq and the s&p it's another record high. news now in the business world, some of the biggest stories in the news right now, robinhood has agreed to pay 65 million dollars because of federal allegations by the sec, who accuse them of failing to inform clients who sold their stock orders to high-frequency traders and other firms and they agree to hav

he this is bloomberg. matt: welcome back to bloomberg markets. this is the european open on -- i would say the last trading day of the year though for many markets that already happened yesterday. a lot will be closed today. we do have -- euronext indexes are going to trade. you can see ftse and character futures down. -- cac futures down most of the markets that will be open it will only be a partial day. u.s. index also close a little early. in the u.s., mitch mcconnell closes off chances of the senate passing a house bill that would give most americans $2,000 stimulus payments. he said he would not be bullied into delivering americans bigger stimulus checks. >> the senate is not going to split apart the three issues president trump linked democrats arese aphrase of two of them. -- afraid of two of them. matt: joining us now is charles schwab investment partner. you focus specifically on u.s. assets and the -- the tail winds and headwinds for those. what do you think about this stimulus battle? americans are going to get $600 checks and they ha

and this is bloomberg. ♪ francine: "bloomberg surveillance this is "bloomberg surveillance -- this is "bloomberg surveillance." the residence of the french president, the elysees palace, says emmanuel macron has tested positive for covid-19. let's go to paris with onion news pound -- with onion news ania nussbaum. does the president have symptoms? president does have symptoms but they are mild, and he is self-isolating. the national assembly is going to isolate as well, and we will know more soon about who else is a contact case and needs to isolate because they were in touch with macron. tom: what is the viruslike in paris? mr. macron will be tied up in this, but what do you see on the streets of paris? ania: i see people wearing masks. ahead in a few days going , to christmas, which is in france a time when people traditionally go see their families and see their parents, their grandparents, and when the government will lift restrictions on the curfew exceptionally for christmas time. we are also getting close to new year's eve where people are going to party, and the government's m

this is bloomberg. ♪ bloomberg. ♪ >> welcome from bloomberg's headquarters in york i'm shery ahn. i'm haidi stroud-watts, asia's major markets have just open for trade, our top stories this hour, still nervous truly -- no relief in washington, they claim a deal is gross but sticking points tremaine and the government may shut down if funding is not agreed. vaccine has vaccine -- backing from fda advisers, the panel says the benefits outweigh the risks. and abandon ship, the virus followed hit shipping as well with a sharp rise in the number of vessels left drifting on the high seas, bloomberg has a special investigation. japan and south korea coming online, let's get to sophie with the latest. the yen is trading near a high, following the fastest lay in the decade, we are also waiting on the position on a bond buying area. plus local media reporting that pfizer is to request formal approval today from japan for the supply of 120 million vaccine doses, we will switch the board to check in on the open in seoul where we are watching for the ministry to release its monthly economic re

bloomberg managing at her. all the day's trading on our market trading on bloomberg. you can get the market run down in one click and commentary and analysis from bloomberg's expert editors. find out what is affecting your investments. there you have it. hang seng about to close out the year. and indeed, we will see a small loss over the course of the last 12 months. >> exactly. over the course of the year the hang seng index has been down by around 3.3%. certainly not seeing those records you have seen in other asian markets. dominated of course by e-tech stocks with the hang seng outshining the overall benchmark. that is it from tumor markers for for -- markers asia 2020. we wish you a very happy new year. we will see you back next week. this is bloomberg. ♪ ♪ emily: welcome to "bloomberg technology." i'm emily chang in san francisco. over the next half hour we look at our biggest interviews in this unprecedented year. the tech sector seemed to do what it did best, adapt. 2020 themes are all about work from home and play from home. the covid cloud brought the si

this is "bloomberg surveillance" on bloomberg radio and television. i'm matt miller in berlin, alongside carol massar in new york city. tom keene jonathan ferro, lisa abramowicz all off today. let's take a quick look at the top stories in the markets. i think really the $2000 stimulus check is still the biggest story for investors. it seems like that is what is driving us to ever new highs. carol: investors excited about the prospect of maybe some consumer spending. wehink global support that are seeing, whether it is central banks around the world, has really provided a bottom to the markets. a quick check on how we are setting up on this tuesday, expect it to be light trade. it is a holiday shortened trading week in the united states and elsewhere around the world. s&p futures just up about 15 points. you've got the euro at $1.22. yielding 0.9ote 4%. we continue to see records on major equity averages. we certainly side in the united states yesterday. matt: absolutely. ,e see really big rallies here like on the ftse. the first day of trading for the

this is bloomberg. ♪ yousef: you are watching "bloomberg surveillance." i am yousef gamal el-din in dubai. let's discuss the outlook in more detail we all hope that 2021 will be a year of repair, but my guest this morning also says it could be a year of despair. he warns dental growth could be lower coming out of the crisis. employment will recover more extend and covid will inequality peers that what this is vincent chaigneau of generali insurance asset management. it has really involved around this idea of real yield hovering around -1%. you are proposing that the multiples expansion is not even as larry for -- not even necessary for single digit returns in 2021. run me through your thinking. vincent: yeah, that is correct. we are looking for a short increase, a short rebound in earnings next year, i mean, the original 40%, 4-0, in europe, for example. as the earnings recover, and before earnings increase, the stock market can go up even without a further expansion of the multiples. i mean, let me be clear -- multiples have increased sharply, and that i

this is bloomberg. welcome back to bloomberg markets. this is the european open. we are just about 15 minutes away from the start of cash trading. see futures down. that might have some of the do with the fact there has not been a stimulus bill. ort is driving stocks up down. mitch mcconnell says an agreement on stimulus does appear to be close at hand. top lawmakers are still trying nail down every detail. we are joined by our bloomberg quicktake reporter out of new york city. what sticking points still remain? lawmakers are up against the clock, trying to pass this relief plan. what we know is it omits some of the contentious issues lawmakers were disagreeing on. that is the lawsuit liability protections for businesses in the state and local aid. there are disagreements on a few key issues. theof them includes emergency lending program. whether or not to extend that. also, fema and whether or not to foride funding for fema pandemic related disasters. these are some of the key sticking points that are going to edge closer and closer through the weekend as lawmake

this is bloomberg. ♪ . this is bloomberg. ♪ shery: welcome to daybreak: asia from bloomberg's world headquarters in new york. haidi: asia's major markets have just opened for trade. starling at the euro rising as brexit. talks are extended. london and brussels see progress is asking for more time to adjust. the boj's fourth quarter reading indicates much less corporate pessimism as exports rebound and the u.s. starts to rot the pfizer vaccine to the entire country as american covid-19 deaths near 300,000. president trump and other officials will be among the first to get the shots. the full tokyo open is upon us. the latest survey beating expectations with sentiment rising from this hemp -- from the pandemic low hit in june. a little change after a two day decline. going into 2021, more local analysts are seeing weakness for japanese stocks by midsummer as a rally is seen cooling. proper buckland warning the yen strength may prove a headwind. we are watching developments around the go to travel campaign i

this is bloomberg. ♪ anna: welcome back to the european market open. we are 45 minutes until the start of the european equity trading session. futures have been lifted by what looks like prague zest -- progress on the brexit agenda. ftse futures are at -- up by 0.5%. we have movement on the pound as well. let's focus in on that brexit news flow. the u.k. and eu are on the verge of unveiling a historic post-brexit trade accord. that's after the u.k. and eu found a compromise on fishing, a key impediment to a deal. we are not quite there yet. the outline of that deal seems to be getting clearer. chris hair joins us now. good to speak to you. give me your size and scope around this brexit deal. this is significant. it could have had greater economic significance if it had encompassed other parts of the economy, not just goods. importantsense of how it was from an economic perspective to get this deal versus the wto terms. chris: getting a deal is important. it avoids some of the things that we were reall

mitchell, this is bloomberg. paul, back to you. , millions ofo come americans are without unemployment benefits as president trump fails to sign the latest relief package. and market implications with roderick vonlipsey. we will get his calls. this is bloomberg. ♪ paul: millions of americans stand to lose unemployment benefits and the federal government risks a shut down after president trump fails to sign the relief bill passed by congress. the reaction has sparked bipartisan anger. >> i understand he wants to be remembered for advocating for big checks but the danger is that he will be remembered for chaos and misery and erratic behavior if he allows this to expire. the best thing to do what be for him to sign this and then make the case for subsequent legislation. paul: let's get the latest from our manager in washington. what have we heard from the white house this weekend? >> we have heard surprisingly little actually. president trump has no press traveling with him. we have had twitter posts on saturday m

more on that next, and this is bloomberg. ♪ francine: this is bloomberg surveillance. let's get to first word news with leigh-ann gerrans. leigh-ann: hi, francine. the u.k. is gearing up to deploy his first covid vaccine with plans to provide the injection at more than 1000 centers across the country, starting tomorrow. the u.s. could approve pfizer's vaccine for emergency use as early as thursday. that will start in los angeles county as more than 10,500 new cases hit a record further the fourth straight day. president trump said his personal lawyer, rudy giuliani, has tested positive for coronavirus. the new york times says 76-year-old was admitted to the hospital yesterday. the president wished him well in a tweet, saying we will carry on. his son tweeted that his father is getting great care and is feeling well. doordash and airbnb are set to start trading this week and what is likely to be the busiest yet end on record for u.s. ipo's. raising a combined $6.2 billion at the top end of their price ranges. doordash up to its price range in a filing friday. airbnb is

this is bloomberg. ♪ matt: welcome back to "bloomberg market: the european open." we are about to see the start of trade. your top headlines from the bloomberg terminal. payouts for the people, the house passes a virus relief bill, increasing payments to $2000 a person. it heads to the senate for a final vote. europe's vaccine scramble. germany and italy seek to speed up the rollout of a covid shot. spain becomes the latest to record 50,000 deaths. u.k. stocks trade for the first time since an eu trade deal was struck, but is the agreement to little too late for the car industry? one of the many issues we will be discussing as we prepare to watch british equities open higher. we see futures so much higher today. before the open, you'll see 1.5% gains. as the live cash trade starts, let's look at the gmm screen, the global macro movers screen on the bloomberg terminal. in the left-hand column, equity indexes will populate. the ftse, first out of the gate, .5% up but climbing on the first day of trading since the brexit trade deal was struck. big gains in britain, as

more on that next, and this is bloomberg. ♪ bloomberg. ♪ francine: this is "bloomberg surveillance." i am francine lacqua here in london. now, thanks and concerns and the s&p 500 reporting that pfizer has scaled back its production targets after running into difficulties in securing all the materials needed. the group had already cut its production goes to $15 million -- doses to 15 million. with bloomberg senior pharmaceutical analyst. what does this mean, that it will be difficult for everyone to get a hold of these materials? sam: good morning, francine. obviously, the raw materials that are used, we do not know exactly what they are, but whatever they are, they are likely to be the similar ones modernay, but my dharna never promised a specific dose number, 500 million to a billion doses in 2021 commandery recently they were questioning that, why can't you commit, and they literally said, use the words "raw materials." we do not know how this will pan out, so we need to be realistic about it. what it does mean is winning to make sure that other vaccines that are not necessarily ha

this is bloomberg. ♪ matt: welcome back to "bloomberg markets: european open." from the open.es my clocks are set correctly. at redow we are looking arrows across futures. not huge drops. cac and dax very little changed. ftse futures down a little more because of the strength of the pound. credit suisse as its investment bank continues to perform well with revenues for the fourth quarter expected to be ahead of the same period a year ago. they have confirmed a target on equity of 10%-12% in the medium-term, and is planning to restart its share buybacks. joining us --thank you for joining us. if us the key takeaways for you from this morning's update. top to look at is the reconfirmation of the 10%-12% on tangible equity, however, they have hedged this. there may be a difficulty reaching this target next year for 2021. because of the pandemic and uncertainty that fits with that going into next year. we do not know what credit loss provisions will look like next year or what other hits they might take. that is something to be careful of. there is the share buyback

this is "bloomberg." ♪ : this is your bloomberg business flash. software maker snowflake lower --ay i cluster salesforce appeal the largest in the u.s. this year. the company stock has more than doubled since its debut. another blow to the world's second-largest money manager. and guard has lost a mandate to run at least $590 million in taiwan government pension and insurance assets. that is due to weak performance. vanguard has been overhauling its strategy, pulled out of hong kong and japan to focus on individual investors. the head of the largest party in the european parliament has a warning for poland and hungary. and fred weber says that you can cut out the two countries from the $908 million coronavirus rescue fund. polident hungry object to try funding to upholding the rule of law. cook's now is the moment to do it. -- >> now is the moment to do it. if hungary and poland are not willing to do it, do it without them. ritika: that is your latest bloomberg business flash. tom: thank you. long ago and far away, the editor-in-chief of bloomberg

this is bloomberg. ♪ karina: this is bloomberg surveillance. two of the best known names in the cannabis business are combining. premium, and the new company will have an equity value of 3.8 billion. it will trade under tilray's ticker on the nasdaq. $1.1 billion after pressing its ipo at the top end of the range. so far this year, ipo's on u.s. thannges have raised more $174 billion. a record. that is the bloomberg business flash. tom: thank you so much. let me do a data check now. futures up 11. they advanced. do i want to say melt up today? i don't think so. but a real destructive tone to the market. -- downes, about 100 -- jones, about one her to points in the- the real news is foreign-exchange space. we had a 1.22 on euro -- there it is, 1.22, flat again. 103.32, showing that weaker dollar against the major currencies. renminbi,4. that really gets my attention. it is an historic 2020. on 22021. we catch up with the world economic forum. saadia zahidi next. this is bloomberg. good morning. ♪ francine: this is bloomberg surveillance. i'm f

this is bloomberg. ♪ ♪ news on theing bloomberg. we are hearing france is telling the brexit negotiator that the deal on brexit risks a veto if he caves to the u.k. ofording to a meeting diplomatic ambassadors report seen by bloomberg, france could veto the deal. eu leaders must approve a deal unanimously for it to take effect. the negotiator has to keep members states on board. after nine months of negotiations, france is telling the negotiator the brexit deal risks a veto if he caves to the u.k. we have seen reaction when it comes to currency markets. the euro was also under pressure after rising to a two-year high, same for the british pound which is falling against the u.s. dollar. we hear from former goldman sachs president gary cohn that he is refusing to return funds related to the malaysia one mbd scandal. the bank is trying to secure $65 million from former executives. our bloomberg reporter has the scoop. this is an interesting development. the ongoing drama of one mbd. >> absolutely, heidi. when the announcement came out

this is bloomberg. francine? francine: leigh-ann, thank you so much. now, democrat leaders in congress have thrown their support behind a bipartisan stimulus proposal as a foundation for a new round of negotiations. it comes as the pandemic continues to raise come up with 2700.ties topping testifying before a house committee, fed chair jay powell says he is in no hurry to taper the bond purchase program. he also warns millions of americans are still out of work. chair powell: with the labor market, i think we ought to remember that despite the rapid progress in getting people back to work, which is so welcome, there are still 10 million people out of work because of the pandemic. joining us this trevor greethham, head of mostly asset at royal london asset management. what are the markets hoping for? markets werenk the expecting a compromise much closer to the republican end of the scale. keep in mind the democrats wanted to $.4 trillion, and we are getting just short of $1 trillion. what is $1 trillion these days

we are joined by our bloomberg and bnn bloomberg audiences. here are the top stories we are following from around the world. 2020 in review. aslook at the top charts equities pushed higher amid the pandemic chaos. the pain only just beginning for some sectors. why commercial real estate is just about to feel some true impacts from the pandemic as the virus alters the fundamentals. with bobll speak wheeler, the ceo of airstream. the health of the rv industry amid the pandemic, as consumers change how they travel. we are seeing mixed action in markets across north america. the biggestme of leaders of the market, apple and facebook moving in opposite directions to gave. -- today. tech in general moving better than the broad market. we are seeing consumer discretionary, communications down. weak like tesla showing up again. apples on specific news, saying it will make a foray into electric cars. we are seeing the overall sentiment in vaccines and what that means in predictions of economic growth for the next quarter and beyond, how that factors in

barry ritholtz with us on bloomberg radio and bloomberg television. of a, you have a gem letter on the fraud that is these outlooks out 12 months. you and i have lived this for decades. would you explain the marketing nature of these outlooks? barry: sure. just ask yourself how many strategists had for their 2020 outlook a global pandemic, one million deaths, a 34% market crash, and faang and technology stocks doubling and tripling? the short answer is none of them. say that is aple tell event, that is a natural disaster, that is unprecedented is probably the word of the year for 2020. the unprecedented comes along all of the time. we have 30 to new highs in the market. unprecedented, except as ray dalio loves to point out. unprecedented means you have not seen it in your lifetime but it very likely happened before. int go back to the pandemic 1918. this is not remotely unprecedented. when i look at how we construct outlooks, and i will give credit to firms who tried to write more cosmic thought pieces to help us line up our thinking about having the

bloomberg -- this is bloomberg. ♪ lisa: this is "bloomberg surveillance." is off. lacqua we are heading into a new year, almost done with 2020, i promise. there is a new alliance with janet yellen placed to home the treasury department. working in tandem with jerome powell to reignite a beaten up u.s. economy. what does this mean for the dollar? valentina mironov is still with us. is the implication of a dollar of the fed chief and treasury secretary working closer together than before to reignite growth? be --hink that should dollar negative. [indiscernible] they will try to restore the u.s. economy back to health, normal conditions. cogent of the limitations the treasury has given the gridlocked congress we will likely have next year. working closely with the treasury could -- the fed is also trying to dollar couldweaker be part of that. --re is hope [indiscernible] so long as the u.s. is not facing difficulty attracting inflows on the back of concerns about deteriorating -- case is maybe they proof -- [indiscernible] which would be an interesting divergence from

this is bloomberg. sterlingill ahead, -- asthens as agreements negotiators agreed to go in next are mild. the first u.s. vaccines are here and washington plans to deliver 3 million doses on monday in what is being called a d-day. this is bloomberg. ♪ host 1: the u.s. it will roll out the first doses of the pfizer vaccine on monday shortly after it got fda approval. they will produce enough shots to him in the eyes -- to immuni ze. calling it a d-day moment. monumental week for us all. each week that follows, we will have more doses ready for allocation and distribution. we will be working it hard for the next couple of days to make sure that these shipments go very well. hearingwe are also president trump and other top officials will be offered the vaccine in the next few days. this idea of a d-day moment. the beginning of the end. what are the challenges that lie ahead? how quickly could we get to the idea of hard immunity? >> i think it is going to take several months. this is a massive effort. ther

this is bloomberg. ♪ ritika: this is "bloomberg markets." coming up today on "balance of of the adam posen peterson institute. this is bloomberg. ♪ are noti: we certainly at the numbers we wanted to be at the end of december. you heard talking about 40 million doses for 20 million people. even if you undercount to million, how much undercount could it be? so we are below where we want to be. alix: that was dr. anthony fauci, the u.s. government's top infectious disease expert, sounding the alarm over vaccination levels in the u.s. he also expressed concern over a possible surge in january as concern over a new strain of the virus continues to take hold in the u.k. for more on how did move forward -- on how to move forward, i am joined by andy z, school of public health professor. what fixes the problem that dr. fauci highlighted? >> you know, this sounds cliche, but this is an unprecedented vaccine rollout. so i think we should expect some speed bumps along the road. what we hope we are not going to run into his roadblocks. the rollout has

this is bloomberg. ♪ ritika: this is bloomberg surveillance. i'm ritika gupta with your bloomberg business flash. credit suisse is proposing that its next chairman be the outgoing ceo of lloyds banking group, antonio horta-osorio. he steered lords to profitability and full private ownership after the financial crisis. credit suisse is trying to avert a run of low profit. tesla will be added to the s&p 500 in one shot on december 21 . that is a move that will ripple through the entire market. money managers will have to adjust their portfolios to make room for a company worth $538 billion. s&p considered adding tesla into parts because of its size. it will be the seventh largest company in the index. that is your latest bloomberg business flash. francine? francine: thank you so much. that is it for the month of november, one of the biggest rallies on record when it comes to stocks. here comes december. the focus is on oil, from opec-plus not managing to find a decision, so they will meet on thursday. the focus also is on bitcoin. coming up, mart