You see a little bit of haven buying here today. Treasury yields pretty much lower by about a basis point across the curve, led by the 10 year. Guy in terms of the session, we are at session highs in europe when it comes to equities. 600. On the stoxx london is outperforming. We are seeing some of the hotel stocks at the top of the pile, but every sector is in positive territory. Stocks are trading a little but higher. The pound is higher. The conservative party continuing to maintain a significant lead over the opposition rivals ahead of the election, up next month. The tory manifesto over the weekend, though, in some ways does raise the risk of a no deal brexit. That is certainly not being priced in today. Weck up to 1. 29 again track back up to 1. 29 again. The Turkish Military starting to test the russianmade Missile System. They turned it on, basically. This may raise the risk when it comes to sanctions, so the turkish lira down by 0. 4 , the dollar up against this turkish lira. Romaine for what it supposed to be a quiet week here, a lot coming on. For more on the big stock moves and the invocations on the ongoing trade war, lets bring in bloombergs luke kawa. The s p trading back near its its closing hi. Help me believe in this rally. What exactly is it that folks are buying into . Luke i dont think you need to have some great explanation as to why it things are going to be great or accelerate. Of time inong period which we have fear. Trade is being priced very asymmetrically and continues to be so. Any bad news is very quickly shrugged off on trade. Any good news is seen that affirmation that we will get that phase one deal, and that nothing further on the 300 billion will get rolled back. This morning, looking at the european confidence figures, this is fomo. Whenever we get corroborating signals that the rest of the inld is not, such as we saw august, that is pretty good ammunition for markets and risk assets to get their act together and move higher. Guy how much is the m a story playing into this as well . Is this a yearend factor, or is this sustainable . Luke i think you will have a lot of time to sit and reflect on that. This will probably be the last m a push prethanksgiving, and then we are talking a lot more about this theme next year. I do think it is a function of, if you do see arlen costs stay superlow while companies are worried about topline growth not being stellar or not rebounding that much, i think this is a story that probably wont get answered too much this week or in the coming month, but probably this will be more about a First Quarter 2020 story where we hear more about that. Romaine all right. Our thanks to bloombergs luke kawa. Now we turn our attention to yana barton of eaton vance management, the equity Portfolio Manager there. She joins us from boston. Great to have you. You look at the price action here, and the strength we have seen this market over the past couple of months, when there was that scare back during the summer, when you look at valuations, the economic backdrop, and the earnings backdrop, is this a fair level for the market to be yet . Yana i think so. I think investors need to continue to be very selective. Its been a market that has gone up on the backs of very few. What i mean by that, if you look at the sector spreads and the leadership in the market, weve ur out of 11 sectors outperform. A majority of stocks are trading, which to me is an opportunity. 30 stocks haveer not seen those levels, so it is a great opportunity to be selective and find value in the market that we still see within health care and other areas of the market, like Communication Services and financials. Romaine is the story going forward, particularly as we look to 2020 question whether the gains we see now are going to sustain themselves into next year, is that going to be driven by etfs . Is that driven by low rates . Whats the catalyst . Yana we certainly need to see some Earnings Growth. Here,3 almost at the end we had almost 96 of companies reporting, and so far Earnings Growth is tracking down 2 . For the rest of the year, we will barely be up, may be 0. 1 . We certainly hope to see more Earnings Growth as we cycle through into the next year. I think projections right now stand for about 9 , which seems a little bit too high. Maybe by the time the year rolls around, we will be around 5 or 6 . If yearend can generate some strength on the heels of better fund of into outlook, but also if we have any recovery as it relates to the dollar and maybe some welcoming weakness for the multinationals, and just better sustainability as it relates to geopolitical picture, i think it will certainly sustain markets going forward. Guy good morning. What does the mna story that we are seeing at the moment tell us about the, and a story the m a story that we are seeing at the moment tell us about valuations . Yana i think the clues we are taking from the market is that there is value to be had. Similar to the media space where content is king, i think scale is king in certain areas of the market. Youre seeing that in the retail space, and certainly in the financial space. Ameritradewab and td is an example of that, where many of the businesses really being pressured by the fact that theres no revenues to be had because we are going to zero, so you need to have scale and efficiencies and operational agility that will allow you to be much more profitable in the businesses that you still have, like custody and others. So theres value to be had and opportunities for the big guys thatt better and sustain leadership through scale and advantages of scale. Guy you bring up the brokerage deal, but theres also the tiffany deal, and plenty of others as well. ,rade deal businesstobusiness. Does private equity sustain this market next year when it comes to m a . Will that push equity valuations higher . Yana private equity markets are overpriced relative to public markets. As a public equity investor, i certainly see valuations in that. We too havent seen anything legitimately trade deal. Theres been whispers of some kind of resolution and skinny but any typeforth, of legitimate geoas it relates to trade will go a long way to lift the uncertainty that many investors continue to feel, and many Corporate Management teams feel as they enter 2020. It is very difficult to put money to work when you dont know what the lay of the land will look like in the rules of engagement will look like into the next year. So as we talk about capital expenditures, as we talk about investment, and that confidence coming through, that will definitely be very necessary for us to see some legitimacy to markets heading higher. Romaine always great to have you. Our thanks to yana barton of eaton vance joining us from boston. Guy coming up, uber shares taking a hit after the London Transport Authority suspending the license for the second time in three years. We will get reaction from or the company from one of the companys top executives. This is bloomberg. Romaine live from new york, im romaine bostick. Guy from london, im guy johnson. This is bloomberg markets. Lets see what those markets are up to this monday morning. Abigail doolittle has the details. Abigail decidedly risk on tone on this monday. In the u. S. , a new set of alltime highs, the first for the s p 500 on a record closing higher basis should this stay in place until the close in about a week. The possibility that there will finally be a phase one trade deal announced between the u. S. And china. The nasdaq on pace for its best day in about a month, but we see strength in the stoxx 600 in europe and the hang seng and in the asian session. This is the protests are a bit more peaceful. Really helping out the chip space and stocks in the u. S. , lets take a look at the today chart of the stoxx. A piece of this, the hope that a trade deal does happen between the u. S. And china. We also have an upgrade of nvidia to an overweight. Not trading higher on the day, take a look at uber. Justf its lows, down now 0. 4 percent as the ridehailing company lost its license in concerns, butfety during that time, the largest ridehailing company in london, about 80 of the market share, they will be allowed to continue to be in business, so perhaps that is why the stock is off its lows. Guy we will see what happens next. We are joined now on the phone by ubers regional general manager for northern and eastern europe, which encompasses the london area. Good afternoon to you. Thank you for taking the time to join us here on bloomberg. You are effectively losing your license here for operational reasons, for engineering reasons. How could a company, a company, asd a sophisticated technologically as uber, allow this to happen . Not renew decision to the license in london is extreme area and wrong. We will be challenging is extraordinary and wrong. We will be challenging the decision, and while we challenge it the writers will be able to use it and everything. Weve made our programs and systems more robust, and weve made safety our number one priority. The wrong decision to not renew our license does not reflect our enterprise. Guy but basically, they have decided that you are going to lose your license. And the mayor have decided. Lets talk about how this is rectified. Theres an error that has been highlighted in your Verification Software for your drivers. Winded did that first become apparent to you and the rest of the team at uber . When was it fixed . Jamie just to elaborate a issue that was identified was there were 43 drivers who were able to swap photos with a friend, which meant that the photo that appeared on the app did not match the driver themselves. This was something that we identified in may of this year, and as soon as we identified it and informed tsl proactively. We also insured it could not happen again and the vulnerability was closed. We stopped the 43 drivers who had been indicated in this from taking any new trips, and conducted a full audit of every single driver in london on the app to ensure that the technical fix had worked and the systems were strong. Issues that of the lyft,lift bang uber, and others have dealt with is on the Regulatory Environment and the outskirts depending on what the Business Model currently is. Once you get outside of london and go to other cities around the world, is this same issue going to crop up again . Regulation, look at uber is absolutely committed to making sure we work within the Regulatory Environment of every single city we operate in globally. Licensed by, we are over 70 licensing jurisdictions, each with their own rules and each which has their own way that they want to make sure that private lessons vehicle operators are working for their city. We are completely committed to making sure we address those requirements. What that does mean is that each of the configurations and the ways that we work with the cities is quite unique, and specific to the needs and requirements of those cities. Romaine i understand that each city has their own unique regulations, and thats got to be a tough task to deal with, but is there not a discussion within the company to maybe set a high bar with regards to some of these regulatory issues that could be transferable across jurisdictions . ,hat if the bar is high enough you could meet london and new york and mumbai standards and so on, that you wouldnt have to read into these issues on a piecemeal basis . Jamie what uber has in common with regulators around the world, and all of the cities youve listed, is that we have made safety the number one priority. That is something they communicated very carefully when they came in two years ago. When we rollout develop ands and newproduct such as, just in ae u. K. Last week we launched button that allows writers who feel vulnerable on a trip to notify someone immediately, or a 24 7 emergency a emergency contact. These are things we are doing to make trips safer. That works with what regulators want. Regulators also want safer trips. The regulators want safer trips, yet you has lost your license. There seems to be a gap between you and the regulators at the moment in what that constitutes. What are you going to be doing to fix that . Jamie so of the asleep, the first thing we are going to be doing is appealing the decision, but if i come to the other aspect of how we make our business safer, because safety is where we are focused, one thing in the u. K. We are intending to launch quite soon is driver face matching. So effectively, a technology that has been in the u. S. Since 2016 that means the drivers can only log on to their account through automated means or through human contact, that the driver is who they say they are. This is something in a number of countries around the world already, including the u. S. That is how we are going to continue to raise bars on safety. Guy what is it that is going to convince the authorities to allow you to continue to operate on appeal . What are you going to say to the authorities to convince them that you are fitted proper to operate in london . To lay outre going the facts as they are now about the strength of our systems, the way we authenticate drivers and iders, it would be make sure trips are safe. Jamie, you also, in addition to this particular issue in london, theres obviously a case working its way up through the u. K. Supreme court with regards to how you classify drivers. That decision expected next year. If it goes against uber, is this going to be a financial issue for uber, or is it something you think you can pass along to the consumer . Jamie we are committed to make sure that drivers who want to earn a living on uber have good work, and theres a lot of things weve already done to make sure thats the case. With insurance cover in the event that they idents or are unable to earn for a period. If we look at the Supreme Court , we are confident that we will win it, and we are confident that what we do is what drivers want. We give them a flexible way of earning an income. Guy thank you very much indeed for your time today. We really appreciate it. Heywood, uber regional general manager for northern and eastern europe. This is bloomberg. Romaine we just heard from ubers general manager for northern and eastern europe. Joining us on the phone with reaction, dan ives, Wedbush Securities managing director for equity research. He has an outperform rating for uber. What can uber do to satisfy londons regulators so that they dont have to completely shut down in the city . Dan i think ultimately, they were caught flatfooted, and i think they dropped the ball a bit. Now they need to significantly step up their game to make sure they stay in london. We are talking not just 45,000 drivers, three point Million Consumers. This would be a 3 to 4 revenue hit for uber, so there is a lot of pressure on them to handhold the issues with regulators within london. Guy is this proving that changing the culture of uber is harder than maybe some had assumed . Dan yeah, i view this as a blackeye that they are in this situation after theres been a backandforth for two years. It is not like this came out of nowhere. They knew this was coming up in terms of the sort of line in terms of the date. It is one that surprised uber and surprised investors, and right now, this is key to their erp inpu to their european footprint. Romaine we are talking at this point about a Business Model that was all about operating in these gray areas of regulatory control. Can uber make a transition away from the fringes of regulation and be a good actor in london and cities around the world . Dan for them, that is going to be the balancing act. Theres 100 Million Consumers they are going to need to focus on, and if you look at it right now, that is how they need to step up their game from a regulatory perspective because it is not just within london. Look at whats happened in new york city. Look at california. So far, investors have been disappointed how theyve handheld regulators through this situation. Romaine we are going to have to leave it there. Our thanks to dan ives of Wedbush Securities, managing director of equity research. From new york and london, this is bloomberg. Romaine live from new york, im romaine bostick. Guy from london, im guy johnson. This is bloomberg markets. Lets catch up with the bloomberg first word news. Heres viviana hurtado. Romaine u. S. House viviana u. S. House democrats are starting to compress weeks of documents and testimony into a report. It is almost certain to result in articles of impeachment against president donald trump. Chairman adamnce schiff hasnt ruled out other areas of investigation. President trump preparing to pour hundreds of millions of dollars next year into florida. The linchpin state is up for grabs. Democrats have made potential major inroads, but republicans plan to make the race extensive. He Trump Campaign plans to spend more than 200 million in the sunshine state. A compromise from china in the trade war with the u. S. It will raise penalties on the theft of intellectual property rights, one of the major sticking points in trade talks. U. S. Wants china to commit to cracking down on ip theft. It also wants the chinese to quit forcing American Companies to hand over secrets if they want to do business there. Turkey began testing air defense radar at the center of a dispute with the u. S. The turks acquired the Missile System from russia, a move that could eventually lead to u. S. Sanctions. The two nato allies have sparred over the potential risks the Missile System proposes to the f35 fighter. Global news 24 hours a day, on air and tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. Im viviana hurtado. This is bloomberg. Romaine thank you, viviana. We will have more on turkey a little later in the hour, but for now, lets turn to hong kong. Voters handed a victory to prodemocratic candidates in local elections. Bloombergs yvonne man looks at what lies ahead. Yvonne all eyes on chief executive carrie lam, due to speak tuesday morning. Shes given these conferences under increasing pressure. 2. 9 Million People showed up on sunday to cast their votes. A record 71 turnout, a landslide victory for the prodemocratic side. These District Council elections are usually quite low level. The counselors elected dont have a lot of political power, but this election was seen as a defect the referendum on the governments handling of the political situation that has gone on for nearly six months. The ball now essentially in carrie lams court. Whether she will decide to meet or address the demands from protesters, and beijing out with a warning after the Election Results to say no matter what happens, hong kong will still be effortof china, and any to disrupt the citys prosperity will not succeed. In hong kong, im yvonne man, bloomberg. Romaine for more analysis, we are joined here in new york by the bloomberg editorinchief emeritus. Thank you for joining us. This was a pretty astonishing switch in terms of the party makeup. If this were anywhere else than hong kong, you would say this is a mandate, and changes are coming. How do you jive this switch with the idea that you still have a leadership and beijing that may not necessarily go along with it . Matt absolutely true, except probably a month ago, i would have said that there are no winners in this. If you look at what happened over the weekend, the protests were peaceful to nonexistent, the elections were peaceful, the outcome was decisive, as was just reported. Business as it is usual in hong kong today, which is pretty encouraging. Avoidedd argue that we what was the worst case scenario, which was more bloodshed, and both sides at a standstill. Instead, today, theres sort of an outbreak of peace. Where that leads, we dont know, but i would say that is really the biggest surprise, that you had this referendum, as you say, operatingss is today in hong kong peacefully. Guy is it easier for beijing to listen to voters then protesters . Matt that is a hard question to answer. What is probably encouraging is chinato date, mainland has not decided to intervene in a very visible and potentially disruptive, violent way. To the extent it hasnt done it to date maybe suggest that there is a willingness to do so, partly because hong kong is such a lucrative asset for everybody. It is a lucrative asset as much for Mainland China as it is for the people of hong kong, so it worldortant for the economic system, and it looks at thisnland china point is not disrupting that. Romaine obviously, the u. S. Has been a dominant place to be with money. You wrote a column highlighting one of the Money Managers out there who basically shifted away from what would be the traditional big places to make money, and hes had a lot of success there. Matt another big surprise. No a black steam has a global fund. Hes based in ash noah Noah Blackstein has a global fund. Hes based in canada. Most recently, for the first time, and sort of an unprecedented shift, he has moved away from both the u. S. And china, where the u. S. And 90 of hisas much as global fund at the beginning of 2015. It is now down to 26 . That is a big change. Romaine the chart here shows that break down and that switch. Matthew and, surprise, after the u. S. , his Biggest Holding his argentina. Argentina,e record, according to market data at bloomberg, is the most risky, least creditworthy country right now. So this is a surprise. His soleell you criteria is he looks for companies that have the most growth. It turns out that, right now, he sees the most growth away from the u. S. Where it once was predominantly, and away from china. China is only 3 of his holding. It used to be much bigger. All thats left is alibaba at 3 . ,o what it tells us is actually by his own way of investing, which is focusing on companies, not countries, that the world clearly is more disorderly than it has been in quite some time forong kong, and also further disarray. Hes done well, and it is a really interesting snapshot of where the worlds right now from somebody who doesnt even look at countries in a political context. Guy many active managers feel like they are in endangered species right now. Just about every market on the planet, they are still struggling. Sauce . His secret well, he would tell you that it starts with a small universe. There are plenty of places to invest, and he picks anywhere between 20 and 25 companies. Isi said earlier, his focus wherever he thinks a company can is reallyarger, that his criteria. Can this company grow significantly or more than what is a benchmark . That is what gets his interest. Hes been methodical about following that strategy from the very beginning. He goes all the way back to 2001, when he started global investing, so hes been at it almost two decades. Like,cret sauce, if you is pretty transparent because we can see on the bloomberg exactly what he does year in and year out and how he does it. He just Takes Companies that are poised for growth. For an example, the one in argentina that he likes right amazon if you like the is, if you like, the amazon of latin america. Its just done phenomenally well , and its become the platform of choice for people buying and selling everything in latin america. So that is one of his top picks. Another one is shop a five, which is actually canadian. Theres another company in brazil that does Online Business successfully. So if there is a method to his approach right now, you can see musing the replatform and of technology everywhere around the world, and companies that are doing that well, those of the companies that he focuses on romaine this is 8 he focuses on. Romaine this is a great column from our bloomberg editor emeritus matt winkler. You can check out that column on the bloomberg. Guy coming up, troubles with turkey. The country begins testing its new Russian Air Defense system. The big question now, how will the u. S. Respond . We will talk about it next. This is bloomberg. Romaine live from new york, im romaine bostick. Guy from london, im guy johnson. This is bloomberg markets. Turkey is now testing a Missile System. The move could escalate a dispute between turkey and the United States. We are joined by bill faries from washington. An incredibly sophisticated radar system. How big a line has been crossed here in turkey . This is something the United States has warned them against. Bill its definitely gone past a pretty sick and threshold. It is a Russian Missile defense system. Turkey is still a nato member, and the u. S. And nato allies have warned that there would likely be additional sanctions on turkey if they continued to press forward with purchasing, and now activating the system. It looks like they have taken that step. Erdogan was just in the u. S. Meeting with trump. It didnt appear that it went all that well. What incentive was there for erdogan to back down on his embrace of the s4 hundred, if he s400t get any of the if he didnt get any concessions . Bill it is a risky move. He may be betting that sanctions will be relatively minor or muted, and that President Trump wont let any of the harsher sanctions that have been talked about on capitol hill go through. We need to see what kind of legislation passes congress. That will probably happen in the first couple of weeks of december. They need to negotiate about executive what they are willing to press for. In the past, we have seen similar sanctions efforts pushed by congress that have gone through with a vetoproof majority. If congress can Reach Agreement on how tough they want to be, theres a precedent for these kind of things getting through despite President Trumps opposition, if he decides to go against this move. Guy in terms of technology sharing, once youve turned it on, is it kind of a situation where you have to keep it . Can they put this thing back in the box and send it back to moscow . Bill in theory, i guess that is in the realm of possibility. I think president erdogan has put a lot of a little capital into purchasing and deploying this, and saying that he is running an independent Foreign Policy and is going to do what his countrys defense needs. We already see them pay a certain price. Theyve been largely kicked out of the f35 program. The u. S. And nato dont want f35 jets flying around turkey with the s4 hundred Missile System trying to track them. So hes been willing to pay a little bit of a cost. Congressf members of have their way, turkey will pay a far heavier price for going through with this next step. Herene the broader issue is one also of the u. S. Presence in the middle east. We saw the u. S. Concede a little but of that territory on the Syrian Border to turkey and russia. If there a real devil medic effort here, or even a military effort, for the u. S. To assert itself more in this region . Bill we seem President Trump saying repeatedly that he wants to pull forces out of the middle east. Hes said he wants to get out of these endless wars. We do know that turkey has the airbase which the u. S. Military has found extremely useful for fighting Islamic State and keeping an eye on, broadly, the middle east. But the crux of your point is fair in that, by and large, i think this administration is looking to step back a little bit, and russia has certainly been more willing to fill that void. Dave stepped up their operations in syria. Theyve had a closer relationship with iran. Theyve definitely built a much tighter relationship with president erdogan than anything we would have seen even a few years ago. Romaine our thanks to Bloomberg News bill faries in washington. Lets turn to our stock of the hour, tesla. Elon musk saying the company has received 200,000 orders for that new cybertruck, with those hard windows. [laughter] romaine Abigail Doolittle joins us to talk a little more about it. Tesla says theyve got all these orders, fully refundable, and up. Stock is unveiled this cybertruck, which is incredible to those who either love it or hate it. The steel balls did shatter the shatterproof windows, but the design is so futuristic and people are having such a reaction to it. Folks saying it is going to be a niche vehicle and that tesla need volume. Wealth friday, but a tweet basically insinuating that 200,000 preorders with a 100 deposit suggesting that the demand for this vehicle is better than expected. Of course, this is in such a early stages that it is hard to know whether this is people throwing 100 sort of thing. But the Free Cash Flow and his company, of course there is a heavy interest in this company, and a lot of it is the Free Cash Flow. A recently, they have had positive cash flow. Irrespective i what happens with this truck in 2020 and how many they actually sell, they will bring in some cash with these deposits and this sort of response. Either way, it looks like a Big Marketing win at this point because of the response, the overwhelming response, generated by that vehicle. There is. There it is. Guy in some ways, i think they probably needed to come out over the weekend with this tweet to try and generate some good news around this product and restore a little bit of confidence. But the whole thing feels a bit like a marketing story. Abigail last week it felt like a bit of a gap. The degree of response that they are receiving, both relative to all forms of media, really, it is hard not to have a response that vehicle. But perception is reality. If elon musk says all of these people are putting down deposits to create the idea that some folks do like it, perhaps there will be some who turn around. I would like to make the point that we havent seen the inside of this vehicle. It is so far away from probably its final design we will have many more stories on this cybertruck to come, and on twitter, one of the funnier tweets that i saw this weekend that it wasrbus, this big steel block. So more to come around tesla and the volatility and headlines. Romaine perception is reality, you said it yourself. Our thanks to Abigail Doolittle. Guy lets stay with the car sector and get back to her losing its license in london. It is going to appeal that two uber losing its license in london. It is going to appeal that. We got briefly positive. Currently down by 0. 4 . That looks a lot better than it did earlier. This is bloomberg. Romaine a comeback guy welcome back. Lets get to futures and focus. Gas, down about net today. Due to the warm weather, right . Guest a few weeks ago we saw that massive spike up on the arctic blast that the u. S. Had, and now with the warmer weather, comeilder whether up right back down again. Guy where do you think oil goes . Opec continues to talk about a pretty disappointing demand story. Youve got the u. S. Continuing to pump like theres no tomorrow. Where do you see it going next year . Weve got it at 63 right now. Many headwinds. Regardless, in my opinion, of what opec does about extending cuts potential he to june, the global issue on demand is not going to change. Especially with u. S. Shale at record production, barring any sort of geopolitical unrest, some other event, i cant imagine a scenario where we are seeing west texas over 60. I would think we are heading back towards 50 in wti before we ever see 60 again. Guy very briefly, when you look at the equity market and see record highs, does that sit with what youre seeing in the Commodity Markets . Scott its a little unnerving, to be quiet on this. I think we gotten too far ahead of ourselves. The equity market is over its heels pricing and something happening between the u. S. And china. To me, this is the perfect scenario for buy the rumor, sell the news. If the deals fall apart, i think the market sells off. That being said, i think volatility is too low. Bison protection in the equity buy some protection in the equity market. Guy scott, nice to see you. Scott bauer of proper Trading Academy joining us from the cme. Sports has a sellout for the super bowl. They have sold their inventory of ads at a record price. The total hall for the nfl championship game should surpass 400 million. Ups asking some of its temporary holiday or workers to use their own cars for deliveries. Unionize workers and teamsters, they are not happy. That is your Bloomberg Business flash update. From new york and london, this is bloomberg. Whether youre out here on lte. Or here on a wifi hotspot. Xfinity mobile has more coverage to keep you connected to what matters most. Thats because its the only Wireless Network that automatically connects you to millions of secure wifi hotspots and the best lte everywhere else. And now get 250 off when you buy a new Samsung Phone during Xfinity Mobile beyond black friday. Plus, you can save up to 400 a year. Click, call or visit a store today. Guy Boris Johnson unveils a sensible approach to the election manifesto, but the markets underestimating the risk of a no deal brexit . We are going to talk about the pound and what it is pricing. Tiffany lvmh buys then a lot less buys tiffany for a lot less than some analysts were expecting. And uber in london loses its license. We will have the details. We are counting you down to the european close here on bloomberg markets. Romaine lets get a quick check on the u. S. Market. Gains really starting to pick up now as we move deeper into the day. The s p 500 trading well above the closing hi that it had on november 18, setting us up for the 12th record high of the year on the s p 500. His similar story playing o