This is the second month and a rope where it surprised to the upside. It was coming down. Is it going back up . Carl it still looks like there is a broader deceleration underway but the slope is much shallower and it tells you some of the handwringing over the trade war is overblown in terms of the consequences for the broader economy. The trade wars negative without doubt. Growth is slowing. As the economy slows, hiring should slope, but things are not rolling over. Written a fair amount about the relationship between the economy and the growth of the jobs numbers. Is it changing your mind about how much the economy is slowing . Carl may be at the margin it tells us there is less slow down. If we look at the number of hours worked, a unit of gdp requires a certain number of worker hours to produce and the fact that aggregate hours worked is growing at 1. 9 to the us thet quarter tells tracking estimates of gdp that are below our forecast are down closer to 1 . Is based takeaway here on todays numbers, we did not revise our gdp outlook, but we did revise the outlook for the Unemployment Rate. While we are looking for 3. 5 on the rate today, the mental we are seeing in the pace of hiring, which is slowing, we will continue to overshoot the natural growth rate in the labor force, which means the Unemployment Rate now the lowest since 1969 will grind lower over the course of next year. Fromanged our forecast 3. 4 to 3. 3 . Last time voters headed to the polls with the Unemployment Rate as low as it is likely to be on november 3 of next year was Dwight Eisenhowers first term. Elvis presley was still in high school. Not even i remember dwight eisenhower. Many thanks to Carl Riccadonna. Now lets go over to Annmarie Hordern in vienna who had a wonderful interview with the Saudi Arabian oil minister. After this, a surprising announcement out of vienna. What did you learn . Annmarie quite a surprise, david. You saw the reaction in the oil market. The princes first meeting as the saudis oil minister. He waited until the press conference to announce the kingdom will be cutting 300,000 barrels a day than what they were producing in november. I asked him why in the interview. Take a listen. The market requires it additionalre will be we thought the best thing to do is to preemptively lower our production to make sure we could as we go into the end of 2020. On one hand he says it is to stabilize the market, at on the secondhand he set the saudis were only willing to cut because they got serious assurances from the others. He was very stern with the other ministers, even at the press conference we saw the nigerian and iraqi ministers come out to join the group. That does not happen at the main opec meeting. It was a single to the market that they had collaborative talks. We see physical barriers move through the market but we do note the saudis are willing to cut more and obviously you saw that in the price of brent and wti. David that is the question. The saudi minister said we have turned the page. We will find out if they turn the page were not. Many thanks to Annmarie Hordern. In we go to anna edgerson washington to talk about impeachment. Nancy pelosi saying we will get this thing done. Where are we in the process . Anna a quick march. Nancy pelosi said they will move forward with articles of impeachment. She has asked her Committee Chairman to make those recommendations. There are only two weeks left in december before christmas by the time we get back next week, so we could have a vote on the house floor next week or the following week. David what are the hearings left to be held . What will they hear . There will be one more hearing and the Judiciary Committee on monday starting at 9 00. They will go over evidence that has been gathered in the house intelligence committee. That will be the last chance to make the case for the American People before democrats and republicans are asked to take this vote on the house floor. David is there any sense of the timing and the senate that if they get impeachment voted on before christmas, when will they likely have a trial . We have a state of Union Address in january as well. Anna right and there are a few considerations when we talk about the senate process. By senate rules, Everything Else has to stop. We have to make sure not only are we funding the government. If we want to get the new trade deal through the senate, that has to happen before or after a Senate Impeachment process. It cannot happen during. We are looking at a six to eight week process in the senate, six days a week on impeachment. We are expecting the white house to present a robust defense. They could call witnesses and have the white house Legal Counsel there defending the president. David thanks. Now it is time to get a check on the markets and how they are reacting to todays top stories. Even i cannot figure it out today. Abigial jobs. David that was my guest. Jobs, jobs. S, the s p 500 is about 1 . If it could close that high, it will be the first 1 move in 40 days amid a stretch of small moves. A relatively big gain. The other thing i would like to point out is we are getting a big gain not related to trade. Investors caring about something else. We are looking past trade to the fundamentals at the much hotter job report you and Carl Riccadonna were talking about. It seems to confirm one of the assessments of the last earnings season. While there was a slight dip, we are likely to come out of an earnings recession, so perhaps the report in january will be better than folks were expecting. David you point to an interesting interconnection between wages and earnings. Sometimes when your wages go up it squeezes your margins. Abigial that is an interesting point. I have not read much about the idea that margins will be squeezed. Right now in terms of stocks going higher, it is the sentiment the american jobs missing the american jobs machine is healthy and working. Earlier this week we had the horrible ism print. It has been a choppy week for stocks. We were down. Earlier the dow was still down on the week. It may still be. Leading to the upside, the russell 2000, e. M. Equities, on the week when we put all of this together, it is slightly risk on. An interesting, possibly bullish tell for what we could see next week. Next week is big because we could be hearing more about the december 15 tariff deadline. David there is that. Back to trade. Today was a bright, next week we go back to trade. Thanks to abigail doolittle. We turn out to ritika gupta with bloomberg first word news. Risen the death toll has in a shooting at the Naval Air Station in pensacola, florida. Authorities say four people are dead, including the gunmen. Seven others were wounded, including two sheriffs deputies. No word on who the shooter was or a possible motive. It is the second shooting this week on a navy base. Sailor shot two workers and injured another before killing himself monday in pearl harbor. Sident jack president ial president ial candidate Elizabeth Warren has been given a clean bill of health. Her personal physician says her weight, Blood Pressure levels are all in normal ranges. Her only medical condition is hyperthyroidism, for which he takes medication. Elizabeth warns dr. Says she follows a elizabeth warns doctor Elizabeth Warrens doctor says she has a clean bill of health and exercises regularly. At the summit in vienna, opec decided to redistribute between its members following pressure from saudi arabia. For a long time, the saudis carried an outsized share of the burden. Reduce the output target by an extra 500,000 a day. An extra 500,000 barrels a day. Martin goodfriend has died. He had been teaching economics at Carnegie Mellon in pittsburgh. Global news, 24 hours a day, on air and on quick take i bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. I am ritika gupta. This is bloomberg. David . David what the strong numbers could mean for u. S. Policy. s libbytalk with pimco cantrill. That is coming up next on Bloomberg Television and radio. Despite a certain amount of pessimism, the economy is outperforming expectations. Economic policies from the president are working, and america is going back to work. I think that is crucial. David that was National EconomicCouncil Director larry kudlow speaking earlier to bloomberg. We welcome now Libby Cantrill, head of Public Policy at pimco. Job numbers surprised across the board. How significant are they . Libby this was only one jobs report so you have to put it in context. There were temporary factors affecting it, including the gm strike, but it is a good job report. Especially going into the last mile of the trade negotiations, this is likely to embolden the administration in terms of what their perceived negotiation as. It is a great talking point for the president in terms of 2020. From the white house perspective , this is unequivocably positive. David what is driving them . We do not have the tax cuts anymore. Libby as a relates to sectors, it looks like the Health Care Sector was stronger than what folks had estimated. It looks like some of the Services Sectors were stronger. As you are saying, to put this , jobsroader context reports can be quite noisy from monthtomonth. It shows there is a certain slowdown, but that slow down my not be accelerating to the extent folks are worried about. Isid as you point out, it despite the uncertainty about trade. It affect the president s negotiating position . We know where we are . Libby i think there is a lot of backandforth, like there should be. We have seen this movie before. Last 10 of in the trade negotiations with china in the spring. That is where we are again. This is always the hardest part of the negotiation. I also think we need to take the president seriously when he says he is ready to move forward with the december 15 tariff. What we know is we want china to make some Firm Commitments on the agricultural purchases. We also want them to make Firm Commitments on structural concessions like forced technology trends. That has been one of the big sticking points of the negotiations. At the same time china has significant tariff relief wants to have significant tariff will leave. Tariff relief. Then we are where we were in the spring. There is political will to get something done but i think we have to take the president seriously. He believes tariffs work. What we have seen before is he is prepared to move forward with threats. David we are talking with Libby Cantrill of pimco. Whoad david wu on yesterday had a view of how important the china deal was for the president and his reelection. He had a high correlation between the two. This is what he said. The outcome of the u. S. China trade war in the Election Year will have a correlation because if trump manages to close the trade deal with china, i think the country will do well and he will be the man to beat. If, however, there is no trade deal with china, the stock market will go down, the economy will fall. David i find it puzzling. The 90 correlation. The numbers did just fine without a trade deal. If we do not get it deal, with the economy crater . Libby i think it is a little reductive. Is making progress with china important for the markets . For sure. What the markets have shown as they have been priced for perfection in terms of assuming phase one was a done deal and any skepticism around that, the market falls off. The point we are trying to reiterate to our clients is even if we get a phase one trade deal , there will still be uncertainty with china as a relates to trade and the wider issues. It is not to say that if we go to phase one all of the trade uncertainty will go away. We will still have a pretty significant tariff on chinese imports. You canductive to say get a phase one deal and President Trump gets reelected. Will the market selloff if we with these december 15 tariffs . For sure. David there are other issues, including funding the government. We are back at that. My real question is is there a relationship between the impeachment proceedings and how much time is being put consumed on the house side on that and on funding the government. We have a deadline on that on december 20. Libby the markets have been pretty impervious to impeachment. Historical things are going on in the market does not seem to be paying attention to it. Ive been talking to clients and the markets only care about impeachment if it impacts President Trumps reaction function. Meaning if President Trump wants to change the narrative away from impeachment proceedings, does he double down on the things he does have control over trade policy, Foreign Policy, immigration, and signing the funding bill into law. Insistencewn in the that border wall funding and shutdown the government over that last december, if you remember. Could he do that again if he wants to change the narrative . Absolutely. Another thing from a market perspective. David one more thing to throw into the hopper, that is usmca. I talked to some people who say time is wasting. If they want to get this done this year before the Election Year. Libby the conventional wisdom is Speaker Pelosi needs to get something on the floor it will on the floor before year end. I am not sure i totally subscribe to that. There is no deadline on this. Could this going to january or february . Absolutely. It is a lot harder when you are in the midst of a general Election Campaign season to get a lot of the members to vote on something that they were reluctant to vote on. I do not think end of the year is any hard deadline. We could still see usmca in a february or march timeframe, but it will be significantly harder if we get into a spring. David are we getting closer . It seems like every day there is another issue on the table. We had the biologics issue and then an internet issue. Isit hard to put together or it what happens in the closing stages of negotiations . Libby as we discussed before, the Politics Around this from democrats has changed. Going into the fall, it was not necessarily clear that Speaker Pelosi felt like she needed to bring this to the floor. Now the impeachment, she does need to provide political cover to those democrats you are right. The last mile of negotiations, Everyone Wants their own concession. In some ways this is to be expected. The main question at this point lighthizer tries to make concessions to the democrats that canada and mexico can agree on. I still think this gets done at the end of 2019, 2020 timeframe. David great to have you with us. That is Libby Cantrill, head of Public Policy at pimco. Ahead, Goldman Sachs may escape with a lower fine. It is our company in the crosshairs. That is next in this is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. It is time for the stock of the hour. Goldman sachs is heading for its best day since june, popping 3 on reports the banks could pay 2 billion to officials over that 1mndb scandal. 2 billion sounds like a lot to me but i guess it is kailey it is still big a chunk of change but it is far less than was thought. That is why the market is taking it well. This was a global scandal that weighed on Goldman Sachs shares for the better part of last year. They helped 1mdb raise money. They got 600 million event underwriting from that. The u. S. ,rities in including the fed and the doj are apparently discussing is a settlement between 1. 5 billion dollars and 2 billion. It is not final, but they think the decision could be coming soon at the market is liking that. David could be as much as three times what they got. It is not just the department of justice of the United States. They have malaysian issues they will have to settle. Kailey that is still ongoing. They are still in separate negotiations. Malaysia has demanded goldman pay as much as 7. 5 billion. In private discussions, it is far less, but is still a risk factors. Analysts at Bloomberg Intelligence say a possible u. S. Settlement could have credit paid out to malaysia as part of what we have seen in the past. Foren last year was settled 1. 3 billion, including 300 million in payment of france. That could happen. , how ispart from 1mdb goldman doing . Kailey better. The fixed Equities Trading that had plagued them did a better performance and the shares have recovered. We have been in a range since the summer. Up 33 on the year. This is not the only issue. It has been a large issue overhanging goldman. And recently, the apple allegations of bias regards to gender, that was supposed to be pushing into consumer finance, plus their investment in wework which we now know is worth far less, and they had investment in uber which has fallen 40 . David and the new ceo was trying to reposition them in the marketplace as other banks are passing them by. Kailey it also goes to the question regard to 1mdb about Building Back reputation. It is in goldmans interest to settle with u. S. Officials as well as malaysia. You want to get this out of the headlines. The longer it is in the court of Public Opinion more damage it can do to your just up dust your reputation. David thanks to bloombergs kailey leinz. A phase one trade deal seems to be heading to a collision with congressional sanction on china on human rights issues. Totalked a former ambassador china max baucus next on balance of power on Bloomberg Television and radio. David from new york, this is balance of power on Bloomberg Television and radio. Im david westin. Or bloomberg first word news, we go to mark crumpton. Authorities say four people are dead, including a gunman at a shooting at the Naval Air Station in pensacola, florida. Wasord on who the shooter or a possible motive. It is the second shooting this week to take place on a naval base, as sailors shot to workers and injured another before killing himself wednesday at joint base pearl harborhickam. Frustrated travelers are facing the second day of a transit strike. Unions are protesting french macronss emmanuel plans to revamp the retirement system. Most trained assistant were at a halt. Major Tourist Attractions were forced to close. Thursday, police fired tear gas and protesters set fires but most demonstrators were peaceful. Of germanyders social Democratic Party are signaling a willingness to stick with chancellor Angela Merkels government, but they want a list of demands met, including the a for chancellor angela merkelmie action on climate change. Merkel said she felt deep shame today during her first ever nazi to the grounds of the death camp of auschwitz. Merkel vowed that germany would not tolerate antisemitism, and told those scattered, including some former auschwitz inmates, that the history must be told over and over again. Global news 24 hours a day,glob, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im mark crumpton. This is bloomberg. David thanks so much. The head of the president National Economic council, larry kudlow, told bloomberg earlier today the trade talks were moving ahead nicely with china and he didnt think the action taking to impose sanctions on the hong kong unrest will affect those talks. We now welcome max baucas, who served as the ambassador to china for 36 years. Thank you for being with us. Give us your sense of where u. S. China trade talks are right now. Max i think we are getting closer to a deal. Cleverlyerday, china announced that it would be buying more soybeans, pork. That is a signal they wanted talks to continue. I certainly hope they conclude. David impose sanctions on the hong kong unrest what aboute relationship between the trade talks, human rights issues on the other . Ofspoke with rick scott florida yesterday and asked him whether the two should be connected. He said they should be. If you look at the fabric of this country, we stand up for people. We stand up for the little guy. We stand up to the people that are oppressed. I just dont think we can say, we dont care about a Million People in prison for their religion. It, should about they be linked, a connection between human rights and commerce . Max i agree, the United States should stand up for human rights, we are the only country that can. People around the world look up to america. The chinese do, too. However, i think it is not wise to link the hong kong situation with the treetops. They are very different. The more we start to link, the more it confuses the issue, makes it difficult to get an agreement. They are separate. We can deal with trade during trade talks. Then lets also deal with hong kong and the uighurs in shin zhang province. It helps more when we work with other countries on human rights. It alone, china takes advantage of that, and takes advantage of other countries. David you think we are making progress on the u. S. China trade talks. Phase one, it seems like it will be a modest agreement. The whole reason we went through all of this was to form a more constructive relationship over the longterm with china. Are we heading in that direction . Date will bet december 15, we will see if President Trump goes ahead with terrace. Hopefully not because there will be an interim deal. If there is an interim deal, President Trump said i got a deal. He can say to the hawks, there is more coming later. Isnkly, i think a trade deal not the big question. The big question comes down to National Security. We may get a trade deal on the tariffs that trump initiated, to change theo structure so it subsidizes, does not engage in ip theft, technology transfers, i dont think is working very well. I dont think china will do very much there. There could be a paper over agreement later on on those issues, but the real question is later. Issues zte, all of these that revolve around National Security that very much cause a lot of angst in the United States. David we are talking with max baucus, former ambassador to china for the u. S. , former chair of the finance committee. Lets talk about huawei, zte. Can we really exclude Chinese Companies from the United States and have integrated commerce in this new Digital World . They are really of the essence. Max it is very difficult. Major american chip manufacturers like qualcomm, intel, sell a lot of chips to china. Huawei buys a lot of those chips. It is important for American Companies to do well, to keep selling chips to Chinese Companies. On the other hand, we are concerned. What is huawei going to do with those chips, when it develops 5g . I think the answer is, frankly, to sit down with our tech people, figure out, how can we with software and hardware, decide which products are ok, which huawei products are not . Lets have a discussion, try to figure out how they work out, and work out a compromise. David how much of the problem is inherent between the relationship between the government and is this with china and how different it is from the west . Do we have to assume that if the chips were down, the Chinese Government wouldchina and how ds from the west . China and how different it is from the west . Do we have to assume that if the chips were down, the Chinese Government would deputize Chinese Tech Companies . Max they could, but lets be honest, both countries spy on each other. When push comes to shove, the u. S. Government could say to the technology companies, we need some help here with our National Security. To be honest, these things have to be worked out rationally and carefully. Nota is a country that does respect the rules of the road as much as america. That is who china is, that is who we are as americans. We have to recognize that and figure out how to deal with china. You haver to that is to stand up to china, be firm. We will not let you cross this line, but at the same time, work with our allies, so that china cannot divide and conquer. David thank you so much. Max baucus, former u. S. Ambassador to china. The u. S. Is the most terrible come charitable country in the world, but is it enough . We talk about the new book from generosity to justice. Hat is coming up on david this is balance of power on Bloomberg Television and radio. Im david westin. Gave over 400 billion dollars to charity each year, about 3 of the collective income, and that is more than any other country in the world. But our next guest says it is not just how much we give but how we give it, and for what. Darren walker is the author of a new book from generosity to justice. To bloomberg for todays conversation in chief. Its a fascinating book, provocative in some ways. What provoked you to write it . Darren ive always been inspired by Andrew Carnegie and his 1889 seminal essay entitled the gospel of wealth, which in many ways outlined the tenants of american philanthropy, upon which the great titans of industry build their foundations. Morgan, rockefeller, ford, mellon. Ive always been interested in the history of these great men and what they created, and how lucky i am today to lead the foundation created by henry and edsel ford in 1936. Ford orhether henry Andrew Carnegie, they did great things with their wealth. You actually quote Andrew Carnegie in your book, in a very condescending way about, of course we need to give away the money because we know how to do it better. That is one of the things you take on and say that is not the right way to do it. We should not assume that we know better than the people in need. Believed thenie like him, rockefeller, were endowed with special qualities that gave them the right to decide what the priorities for the public should be, and gave them a special insight and how to actually solve these problems. , 125 years later, we know more about the problems and solving the great challenges of the world. Part of what we know is if we are to actually solve these problems, we need to listen to proximate to the peoples and communities who are closest to them. David which leads me to one of the tenants in your book, having the right perspective, but also to another, having humility in our giving. Darren it is that we approach our giving what some sense of humility, that we dont have the answer, that just because we may have been successful in business or some facet of life, become wealthy or become a donor, that we are actually and down with a special insight. The inside is we need to know what we dont know, as much as what we do know. Sometimes the privilege of wealth allows some to believe that they know more, they know better than others, who are actually closer to the problems, or who may have expertise on the issue. David we are talking with darren walker, the head of the ford foundation. You interview some fascinating people in the book, including marine paul jobs. What did you learn from her about the b . Darren she is on the vanguard of a new generation of philanthropists who are not private only using foundations but the larger llc Corporate Structure to do social good in the world. What she has taught us is you can have a large enterprise like the emerson collective, her organization, and within that, do work that is political, do work that is charitable, work that is focused straightforwardly on justice. Another thing you bring up in the book is the need to speak out, courage of your convictions. You speak with ken frazier about that, and that he is not typical of ceos of publicly traded companies, not afraid to speak out on issues of social justice. Darren ken is a friend of mine and huge admirer, because he has exhibited courage at challenging times. I also say in the book, it is hard to be courageous when courage is discouraged, and for the heads of public companies, it is very hard to always be courageous. You are always worriedi also sas hard to be courageous when aboute risks and mistakes. The steps. Missteps. If you are going to be penalized for making a misstep, why take the risk . Courage often requires risktaking. David you write in your book about the generosity of many americans. It can sometimes be misplaced. About you talk about addressing the consequences of the justice as opposed to addressing the root causes, how critically important it is we do that. Ironically, a lot of the money we are giving away came about because of the factors that led to injustice. Darren Martin Luther king said the following in 1968. The p is commendable but should not allow the philanthropists to overlook the economic injustice which makes philanthropy necessary. What he was doing was challenging philanthropists to consider the actual systems, structures in society which whichte injustice, which limitairness, the opportunity of some, and compound the opportunity and privilege of others. And this idea has really, i which limit the opportunity of some, and think, framed my book. This notion that we privileged people need to get a little thinkortable and reflectively, and through interrogating our own behaviors, our own wealth, our own ourselves,and ask how do we ensure that we use this privilege and advantage to benefit a list of more people . David many thanks to darren walker. Special to have you here. He is the president of the ford foundation, also the author of from generosity to justice. This is balance of power on Bloomberg Television and radio. World leaders caught on camera laughing about President Trump. Several World Leaders mocking President Trump. World leaders caught on camera laughing about President Trump. They are laughing at him. For whatrld sees trump he is, insincere, illinformed, correct. Dangerously incompetent and incapable of World Leadership. If we give him four more years, we will have a great deal of difficulty to recover americas standing in the world and our capacity to bring nations together. David that was joe bidens recent ad pull together quickly in response to that open mic incident at the u. N. In new york city. We are always reluctant to play political ads, one side point of views, but talk about the merits. It was impressive that the campaign pulled that together that quickly. It was also interesting in that that ad did not air anywhere, he tweeted it, and left it up to free media, including us, msnbc, everybody playing it, to write about it. It was an economic use of Campaign Resources to do it that way. But they had a lot of it put together. Prime minister Justin Trudeau hand handed them the plug. David i wonder if it may indicate the way that Foreign Affairs which are not major campaignspresident ial could come back and in terms of our stature around the world, apart from how you feel about individual decisions. Thats right, the nato campaigns promptedack and inmeeting ae some reporters to ask Elizabeth Warren of it. , obamasecretary of state administration, who crafted the iran nuclear deal, john kerry, endorsed him. In the middle of a tour of iowa, was a good reminder for voters of what biden wants to show, his experience in the Foreign Policy realm. David lets take a look at a different ad from cory booker, this one a little more tongueincheek. He is a Rhodes Scholar, successful mayor, a real leader to bring democrats together. No. That guy is cory booker. He will fight the nra because he sees the gun violence. He will legalize marijuana, ending the failed war on drugs, and expand Affordable Health care access. There is only one road scholar mayor that has what it takes to be donald trump, and it is the sky, cory booker. David typically in an ad of any sort, you dont mention the competition. They said it is worth it because Pete Buttigieg is so far ahead of cory booker. Especially with the big sign, not him. That is a clever ad, a lot of fun, and points to the fact that Pete Buttigieg is getting a lot of attention for being a Rhodes Scholar and mayor, which is, aside from being a veteran, those are his qualification for being president. Cory booker has more but he is also a Rhodes Scholar and mayor. Booker is making a notsosubtle getsstion that buttigieg points for those because he is white. David that is interesting. Another difference between the two of them, one of them has a position on the debate stage, one is still fighting for it. Next week with, we will know who will be at the last debate . Wendy yes, it is a week from tuesday, but we will know who qualifies on the 13th. So far, cory booker has not. With the departure of Kamala Harris from the race, at the moment, there are no black candidates that will be on the debate stage. Booker says this week, there are more billionaires in the race than black people. David which is quite telling. When not have expected that of the Democratic Party. Is there a question about the criteria that was used . Ofdy there are lots questions about how the dnc has structured these debates. There were several in the summer where there were so many candidates, they had to spread them out over two nights. I think this may speak to 2020, that black democratic voters are not necessarily looking for a candidate that looks like them, but one that will speak to them about the issues that are important to them. David does that appeared to still be joe biden . That is what the polling earlier on indicated. Wendy he still has an overwhelmingly with black voters. We will have to see in that surround the polls. Pete buttigieg has been making a real push for black voters, and so has Elizabeth Warren. David thank you for joining us, wendy benjaminson. Coming up, balance of power continues on bloomberg radio. Well be continuing our coverage of the storm strong jobs report today and specifically the auto Manufacturing Sector saying its bigoted jump in job growth since 1988. We will also hear from phil cox on the need for passage of usmca. Conflicting reports about whether Congress Really needs to come to terms within a short amount of time if they are going to get it enacted. This is balance of power on Bloomberg Television and radio. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Jonathan from new york city, im jonathan ferro. Bloomberg real yield. Starts right now. Coming up, the u. S. Payrolls report coming in hot. Counting down to another trade deadline, waiting for a phase one deal. Twitter showing there is more than enough appetite for highyield debt. We begin with the big issue, a blowout payrolls report. This was a pretty strong report. Impressive report. Undoubtably a really strong jobs number