Announcement. You sent to ta did one even there is a hundred percent probability they will raise rates, and even though there is not suspense about the rate decision, there is suspense about the commentary and the speculation the president elect could be tweeting around the fed meeting. The dow, yesterday, getting within 50 points of 20,000, is pulling back by 34. 5 at the moment. The s p little changed to the, in the green, but little change. You see a little bit of granular, push and pull on the market. Energy stocks are the worst performers. You see oil pullback. A. M. Ventories, 10 30 there could be volatility around that. Financials are down. Along with real estate stocks, health care and Consumer Staples behaving better. Individual Stocks Holding that gains include general motors. China earlier today saying they will raise a tax on small cars that would curb an incentive for the auto industry. Also the g. M. Joint venture in ic motor is being investigated for possible antitrust violations. Universal Health Services is downgraded following a letter of an investigation going on into the company. And wells fargo sailing its living will test once again. Essentially a try to persuade u. S. Regulators it had a plan to unwind you the event of some kind of financial crisis. Once again, it was not able to persuade them of that. Those shares off 2. 5 . Lets look at the yield curve, meeting. Ad of the fed we see some buying. Yields moving lower across the curb from the twoyear, which is down a basis point from the 10year and a 30year. We continue to watch the spread between the german and u. S. 10years. Here is the spread on the bloomberg. It has been climbing as mario draghi indicated there would be an extension of stimulus over in the eu. So, interesting we have started to see that spread wide and out in recent years, and certainly over the past month or so. Mark 90 minutes left in the equity session in europe. We are awaiting the outcome of the twoday fomc meeting. We are down today after reaching the highest level since january yesterday. What do you care valuations look like u. K. Valuations look like it brings me to this chart. The blue line in the lower half relative to the euro stocks 50, you can see the gap between the two. The valuation gap is narrowing. Analysts expect profits in the ftse to jump 24 , relative to 5. 9 to firms on the european measure. Also, options trading pushing against declines in the british index in the lowest level since august forecast. The ftse headed for its first annual gain since 2013 thanks to a drop in the pound and a recovery in commodity prices. I love that chart. I want to introduce you to our new euro index. It is similar to the dollar spot index, the pound index. Basket, and in the the wait is determined annually on their share of liquidity. This is gauged against a number of major peers. On friday, it fell to its lowest level since december, since trump was elected. Story, thecorporate french pharmaceutical giant is in talks to buy. They abandoned talks for the 21 billion swiss drug mailer drugmaker. Engaged iney are discussions with other parties. Regarding strategic transactions. Sanofi have and lost out on deals in the last two years. There is only one game in town, isnt there . Vonnie there really is, and we will cover it end to end started with special coverage at 1 00 p. M. Lets get to first word news. Lisa forensic is in the newsroom. Lisa some of Donald Trumps most outspoken opponents will meet with the president elect in new york, meeting with tim cook, jeff bezos, and larry page. Troubles trumps comment about immigrants has raised fears it might stop Tech Companies from hiring foreign workers. Office of government ethics says the president is exempt from those restrictions, although cabinet members are not. Sons plans to have his two run his business while he is in office. British Prime Minister theresa may says it is time for russian president Vladimir Putin to say enough is enough in the aleppo. D syrian city of a ceasefire broke down there today. Russianbacked Syrian Forces resumed pounding the russian the rebel areas. The president of the philippines admits he has killed criminal suspects. He says that is when he was mayor he would ride around on a motorcycle looking for a confrontation so he could kill a suspect. Since he was elected president this year, nearly 6000 people have said to be to have been killed in a crackdown on drugs. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Vonnie thank you. As mark alluded to, at 2 00 p. M. , the Federal Reserve will announce what is expected to be the first rates increase of 2016, and you see the probability has consistently held at 100 since november 21. Here is where former ecb president jeanclaude trichet had to say. Jeanclaude trichet what is important is would be the exact way they will formulate their future. Mark join vonnie joining us is vincent reinhart. Also with us in washington, d. C. , Michael Mckee. He will be covering the fed decision later today. With you. Et me start at one point does the Federal Reserve need to address imminent fiscal stimulus and what kind of a problem they could hold for the Federal Reserve . Vincent that will be squarely covered in the summer summit of economic rejections. Have to make a forecast for 2017 and beyond, and they will probably have to admit uncertainty is high. I do not envy what michael will have to sit through in the press conference because it will be painful. Janet yellen will repeat over and over again all decisions are datadependent and made meeting by meeting. Fiscal trade policy, environmental policy, if it changes the outlook, they will take that into consideration. Mark just getting breaking news college and ohlone, who has been nominated as Prime Minister in italy, his government has won a confidence vote in the italian senate. That was a big announcement. On tuesday night, he the backing of the lower house. Be runnings to smoothly. But, if i could get back to the fed, and a wonderful chart, this ofws the fed powers forecasting because yes, the fed was wrong in the amounts of hikes a year ago, but not run on other measures, has it . Michael they are meeting their mandate in terms of maximum stable employment and stable prices. They are forecasting they are going to get there, the 2 target. That is the basis for the rate move. When you look at the conditions, that is justified in raising interest rates, and that is what they will say today. The question is is this the right setting for interest rates, or should rates be even higher, given that amount of unemployment, and that level of inflation . That is going to depend a lot on the political aspects, as vince was talking about, of what we get from congress in the coming year. Vonnie michael, to that point, on my bloomberg i know you want to ask a question to vince relate to this, but let me ask you first. The Federal Reserve will likely increase in the median its forecast. Be enough, or might we see more . Basedl we may see more on the current economy, the trajectory we seem to be on with inflation rising you can make the case for higher rates next year. Whether they will or not as a median remains to be seen to you could see some dots move up. The real question is do the dots move higher . As vince says, i do not think they are in a position to make a judgment yet. They dont not want to get ahead of themselves and say we will have more of the than the two rate increases that are pressed into the market. The question i have for vince, because you have been in the room so often, and janet yellen is supposed to be so collegial, i wondered what the key question is for the fed right now. If janet yellen went around the table and asked one question of the participants, what would it be . Vincent how fast do you want to go . It is the profile of rate increases from here. They have gone to the point where they understand that talking about the terminal funds rate is not very hopeful because they have been wrong about their estimate of the long run federal funds rate, but more than anything is what pace of tightening should the Committee Project to reassure market disciplines that they are following their dual mandate . Vonnie speaking of dual mandate, vince, i have thought doing it and how close we are to i have the dual mandate, and how close we are to meeting both parts. When it comes to the on implement rate that is not the dual mandate. I will get it up in a second. When it comes to the unemployment rate, you can see we have moved through that. We are atre 1. 4. That is likely to rise to a great extent over the next four weeks and more. S,e whites of inflations eye at what point is it too late . At what point with the fed have to make a 50 point move, for example . Vincent we think inflation will overshoot the feds goal. Tumor Price Inflation, this Time Next Year will be in the neighborhood of 2. 5 . Consumer Price Inflation this Time Next Year will be in the neighborhood of 2. 5 . You want to tradeoff between the two. Janet yellen is doing an experiment can a hot labor market generates higher employment in the long run, and she is willing to tolerate a modest overshoot of inflation to see if that works. They are willing to tolerate that because they are firmly convinced that inflation applications are well anchored. Will they pick up the pace of tightening . I dont think so. They would only do that if they were forced by market events. If you are forecasting somewhere between two or three tightening in 2017, then you can do that in quarterpoint chunks. Mark vince, donald trump will have the opportunity to fill the fed with his own people in the coming years there are a couple of positions free already. There will probably be a few more in a year or so. What does that mean for the hawkish stance of the fed in 2017 and 20 18th . Organized think an white house could have its impact on fomc deliberations very quickly. There are two open board seats right now. That means the president could sent to the senate on january 21 a name of a plausible successor to janet yellen, and basically auditioned that person for a year. The president could also sent to the senate a vice chair for supervision and regulation. That is an authority granted in doddfrank that the Obama Administration has not exercised yet. If that is the case, then i was in the incumbent governor doing the job, dan tarullo, would probably quit. That is three open slots. And you get to 2018, two more, open quickly. Five members of the board is an opportunity to significantly influence the fomc discussion. And if the president appoints someone who is a plausible successor to janet yellen in 2017, you are going to see the Bank President s drift toward that persons view, in the same way the fy and see drifted toward janet yellen the fomc drifted toward Janet Yellens view when ben bernanke announced he would not seek renomination. Vonnie parsing stu vincent reinhart, and Michael Mckee our thanks to vincent reinhart, and Michael Mckee, who will be in the room, asking a question of janet yellen. You can catch them on the special coverage of the fed decision starting at 1 00 p. M. U. S. Time on bluebird tv, bloomberg radio, and bloomberg that bloomberg tv, bloomberg. Com, and bloomberg radio. Mark former Federal Reserve chairman Alan Greenspan shares his outlook for europe and the euro yen our exclusive interview you do not in our exclusive interview you do not want to miss. This is bloomberg. Vonnie live from london and new york, i am vonnie quinn. Mark i am mark barton. As janet yellen plans to navigate the impact from president elect Donald Trumps plans to revive the economy, her counterpart mile jog he is committed to doing what it takes upsupport europe tashkent our mario draghi is committed to doing what it takes to support europeans recovery. Is anan greenspan there irreconcilable issue there that i do not think is going to get resolved, and im very much concerned about a euro crisis because there is no real, major there is no big institution that can backup the euro, if it gets into trouble. David so even as we speak right now, the yield difference between italian bonds and the bond in germany is substantial and growing. Does that indicate the tension there is in the eurozone and pose a serious, existential throat threats to the euro . Chairman greenspan that is a major issue. One of the things i watch every morning is the spread of what we o. Ll target t to is the European CentralBank Mechanism in which the individual banks, the bundesbank, all of them, are lending to each other. Game, androsome whether it is developed the bundesbank has thrown 600 billion euros to the rest of europe, with spain and italy being the two which are continuously batching. You have matching. You get the bundesbank assets going up, and the two spain and italy liabilities matching them. That is a situation which cannot persist and definitely. It is going to give and i think the real danger is that italy might be in more trouble than we think. Zi had the right solutions. He got voted down. This is a worldwide phenomenon. We have this international shift, which is not only brexit, it is scotland. There were considerable discussions about northern ireland. Italy, spain,nto which is always in a state of turmoil, and the grandchild of all of them, greece. Greece has been got into the euro he legally in the sense he legally in the sense they fudged their numbers, and it was admitted by the greeks. Instead of getting them out of there, they are still there. So, the structure is unstable. Alan greenspan there speaking with david westin in washington. Vonnie lets go to julie hyman. She is at the markets desk the latest on a few earlier movers. Julie lets talk about technology the only group in the s p 500 that is higher. We have the rest of the index rolling over along with the dow and the nasdaq. Apple and cisco remain in the green. Still hanging on here. Katy have a analyst stockton saying the apple weekly chart is similar to april, 2014, and as investors that exposure on a breakout above 117. Not quite there. It is below 116. A fun note from Beacon Advisors about Technology John regarding tech leaders meeting with president elect donald trump today. He says it should be kept up, but there is a slight risk that they are entering an ambush in the style of a game of thrones wedding. Vonnie thank you very much. Mark remember to tune into our special fomc special the fed decides with coverage at 1 00 p. M. Eastern. Guests include Glenn Hubbard and former richmond fed president this is bloomberg. Mark happening right now here in london, brexit secretary david davis is answering questions from lawmakers on the brexit committee. Big headlines the u. K. And eu , he says, must agree on the broad shape of the final deal , before the exit starting talks on transitional arrangements. He is setting up the options he is considering for a future trade deal with the eu. He told lawmakers he is open to negotiating a transitional agreement as a kind of bridge to smooth the impact of the u. K. s departure, and that represents the most detailed public statements so far of how the government sees the negotiations unfolding. Davis has also said we could trigger article 50 before march 31st, but the best outcome brexit deal cannot be done in six months. You can watch the full remarks on the bloomberg at live go. Down for ansat exclusive interview with bloomberg about a Climate Change task force set in motion by leaders of the g20. His thoughts on the companys profoundly affected by climate risk up next here on bloomberg as we count down to the fomc decision. This is bloomberg. Midtown, manhattan, there, live from bloomberg. We have breaking data. Julie hyman is at the markets desk looking at oil inventories. Julie yes, we are awaiting the data in just moments. This is as we see the price of oil fallback today on an anticipated supplied build or supply dynamics that are not going to be good, but in fact we are seeing a bigger drawdown than anticipated in crude supplies. A drop of 2. 6 Million Barrels million ersus 1. 4 excuse me, that was estimated. We see a builtin cushing, oklahoma build in cushing, oklahoma. That build initially dampened any enthusiasm over a supply drop. Up. Line inventories a drawdown in desolate inventories of 762,000 barrels. This would appear to be bullish for oil prices. Take a look at the bloomberg, which is showing this Immediate Reaction in the price of oil. An immediate leg up. Even though oil prices are still down 1. 3 in u. S. Trading. We will continue to monitor the u. S. Reaction to this. We will see if we have a settling out here. Initially, it looks like folks are reading this as positive, but not positive enough to bring oil higher on the session. Mark thanks very much indeed. Lets get to first word news. president elect donald trump has chosen former Texas Governor rick perry to head the agency he wants promise to shut down. He said he would close the energy department. Sayss Transition Team rick Perry CommunityBusiness Environment that produce millions of jobs and lower energy prices. The pic for secretary of state has a potential multibilliondollar conflict of interest. Rex tillerson has a company that billion in96 government contracts and almost all of that went for Petroleum Products bought by the pentagon and other government agency. Italys new Prime Minister has won a confidence vote in the senate. Paolo gentoloni survive they vote yesterday in the lower house of pollen. His Democratic Party does not have an absolute majority in the upper house. He had to rely on senators that could change their mind. The United States is the deployment of deterrence troops to poland. An armored the grade and a battalion have started to leave their base in colorado. Poland and the baltics have been uneasy about increased Russian Military operations in that region. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. I am lisa parenti. Alisa parenti. Vonnie thank you. Recommendations designed to address the financial risk posed by Climate Change the task force on climaterelated financial closures is chaired by michael bloomberg, founder and majority owner of bloomberg lp, the parent of bloomberg news. He was joined by the government governor mark carney unit exclusive interview with francine lacqua. Interview in an exclusive interview with francine lacqua. Mark the g20 nations have asked for the solution. The excitation is voluntary adoption, and went into the member, you had 3 million u. S. Private capital at the montreal protocol signup say they want this type of thing. You have the u. S. Endorsing this recommendation of private capital. It is that demand this is the report that is feeling the demand to make a market work much better. Mayor bloomberg capitalism will make this work because the customers, employees of Companies Want to know what they are doing from an environmental perspective. Want social investing, impact investing, whatever you care about, if they are going to make thats, they have to have information. It would be difficult for companies to say i am not going to contribute. The implication is what are you hiding. the election of donald trump means there is a less sympathetic view to this guidance. Does it impact the way businesses react . Mayor bloomberg i do not think so. It is hard to argue trump can cut back with the federal government has been doing to address Climate Change. They have done nothing almost nothing. Fundamentally, all the progress in america to reduce Greenhouse Gases and there has been enormous progress we have a chance to make the top 21 goal is the only industrial country that can see that in spite of federal government and state governments. It has all been done a little bit at the City Government level, but mainly by the private Sector Companies and individuals who have adjusted their behavior to try to minimize climate damage, and adjusted their business models, and their living models as well, to what happens in the worst case. Francine so the new administration canyon away did her can in no way deter countries that companies . Companies . Mayor bloomberg you are not going to bring back cold jobs. The world is not burning coal. If you live downwind from a play,ired pile power forget about what will happen in 2050. Your kids and you right now are having your body damaged, and people are starting to realize that. The same thing has happened with smoking, with fullsugared drinks. The public is a lot smarter than elected officials have given them credit. They read about this stuff and they say there is a possibility it is right. It makes sense to behave in a slightly different way modify behavior to protect ourselves. I think the Incoming Administration from the president elect, secretary of state, the treasury secretary appointee for the National Economic council these are people that believe in the market, and this is about the market working better. Different people have different views about the pace of change that is needed, how rapidly technology will change, how rapidly governments will take action and how effective the action will be. What they cannot do right now is probably best properly express those views properly express those views. If i take the top 1000 companies, only one. One. Will provide comparable information. That is not something that influences 20 trillion of u. S. Investment capital today. We have to do some in to fix it, and the private sector has come up with a response to that. And there is no doubt in your mind investors are interested in this and will use this . Mark c. i just gave you a figure of what investors are interested in, but what investors are also interested in are companies that are wellmanaged, creating value over the medium term, have clear metrics to create the valley value, have a strategy to realize that. That is what institutional capitals looking for. This is one example. Vonnie that was bank of England Governor Mark carney along with ofhael bloomberg, founder bloomberg lp, the parent of bloomberg news, inexpensive interview with francine lacqua. Mark jeanclaude trichet says the fed is doing a good job and has prepared the market well for a rate hike. His thoughts on the european Banking System not nearly as optimistic. Hear what he had to say. This is bloomberg. Vonnie you are watching bloomberg. I am vonnie queen had vonnie quinn. Mark and i am mark breton. This is a Global Business report. Jeanclaude trichet tells us why the european Banking Sector needs restructuring. Vonnie opec is warning it might take a while for production costs to be felt in the market. Mark greece Prime MinisterAlexis Tsipras is forcing through tough austerity measures, but are they enough . Lets start with u. S. Banking systems. Speaking to bloomberg, former European CentralBank President jeanclaude trichet a discussed the steps taken to dismiss diminish risk in the Global Banking industry and the need for consolidation. Jeanclaude we have a necessity for restructuring and concentrating in many areas in europe the Banking Sector. We have too many banks, obviously it we have too many banks that are too national for many of them. Mark opec says its supply cuts wont rebalance the Global Markets into the second half of next year. The cartel is trying to end a threeyour glut. The forecast is more optimistic than the one published on tuesday. Protects a deficit of oil in the first half of 2014. China is cutting an incentive that helps boost auto sales. People familiar with the matter tell Bloomberg China is raising 7. 5 ,x on small cars to less than a 10 tax due to take effect in january. Still, it is an increase from the 5 tax that was introduced more than a year ago. Disney is talking to other major Hollywood Studios about joining its disney Movies Anywhere service according with dish to people with knowledge according to people with knowledge of the matter, allowing customers to buy and store online movie purchases at a signal single site. Vonnie it is time for the bloomberg quick take when we provide context and the client issues of interest. Greece fought austerity, and austerity won. An uneasy peace has settled between brussels and athens. The common currency area, divisions are now wider than ever. Here is a situation Prime MinisterAlexis Tsipras is forcing through unpopular austerity measures tied to the european bailout. Now attention is turning to steps needed to make greeces that sustainable. Governmentsro area are demanding. Euro area finance ministers payment rescheduling and the imf says this will not be enough and needs to be accompanied by more budget cuts. Heres the background that is a four Alexis Tsipras party ended a 40year era in which the conservative new Democracy Party and the Austerity Party traded in power. Tax evasion flourished. Took part of, and revealed a debt of four times what euro rules allow. Youth unemployment peaked at more than 60 and the overall jobless rate at the end of 2016 stood at 23 . The bailout agreement and the and pressing refugee crisis the temperature in the debate over finances, but to richer northern countries, germany in particular, they defend risks that will not reform. Anglo marco Angela Merkel argued it was more important eurozone enforce rules. You can read more about greece and are quick twigs takes on the bloomberg. Had to bloomberg. Com for more stories. , and excessivead interview with a just be chairman Douglas Flint. He tells us what worries him in these uncertain times. This is bloomberg. Live from london and new york, i am mark martin. Vonnie mark barton. Vonnie and i am vonnie quinn. This is bloomberg markets. It has been nearly six months since that u. K. Voted to leave the european union. Despite the market shot, shares of hsbc are up 20 . Francine lacqua spoke to hsbc chairman Douglas Flint in an exclusive interview and she asked him about the market resiliency in 2016. Douglas you saw the markets react very well to individual institution events in 2016, and i think one of the extraordinary features of the referendum in june was that people went to bed that night with the markets, the commentators, the pollsters, all predicting one result, woke up in the morning, and it was a different outcome. Market volumes were six times normal. Huge volatility. Banking stocks, predominately based in europe with european customer bases suffered 20 , 30 declines. Commodity prices went all over the place, and everything worked. Everything settled. All the traits could be executed. There was liquidity to do everything. You stand back and you say there is a unique system that hasnt built that has been able to withstand that has been built that was able to withstand something that was really unprintable. It gives you confidence a system is much more resilient and it was. Francine what worries you know about brexit . Ofglas just the period uncertainty. You could model almost every option that you think might happen. The sooner there is some clarity you canction of travel, discard some of the options and get on with prosecuting the others to make sure that for our clients and for our staff that are impacted, they can begin to plan their affairs, and it can be business as usual. The sooner we can get to some kind of clarity francine what kind of clarity for example, a buffer . We know mark carney has been working on a buffer or transitional agreement. Would that be most helpful for banks . Douglas it would be helpful to know that is in the planning. We think it needs to be. When you think of regulatory reforms we have been through, when the reforms there are final, there has been a twoyear period of implementation. It is quite difficult to think that if something as significant as changing the relationship with europe, that you can, sort of, say on day zero, we are moving from that system, and day one you can accommodate everything in your system that has changed. I think it needs to be some period of transition. Again, in terms of the planning, if there isnt some period of transition, you might have to plan for the fact there might not be none and that accelerates decisions. Francine and you have not gotten assurances from the bank of and one or the government that they are planning for . Douglas nobody has clarified that, but at the same time everyone recognizes the importance of making sure arrangements on both side of the equation are as smooth for customers as possible. It is not about about the financial system. We are reflections of what is happening to our customers. If customers find think ugly and awkward, that will affect the economy. One of the ways to make that smooth would be some element of transition, which we think is necessary. What does the government need to do today give assurances workers can stay in the u. K. . Douglas i think that would be a good step. All these things are known. It is a question of at what point do you finalize your approach, the negotiating position all the factors you want to take into account . I agree you do not do it piecemeal. You look at what your framework will be and then you have something you can talk about. Francine are you working workers abroad moving workers abroad . Douglas we are planning for contingencies. Weve bought a very Big French Bank in 2000, which has given us more option alanine and many others. So, we have the opportunity, if we need to take it if the ongoing arrangements require us to have more of a vase in europe based in europe. We can transfer some of our people in london to paris in many cases, back to paris as we have operated the paris and London Trading rooms as a pair, and many of the london came from our bank in france. Again, this is an adjustment. Vonnie that was ages be chairman hsbc chairman Douglas Flint in an exquisite interview with francine lacqua. You can catch more of the interview airing saturday at 2 00 p. M. And sunday at 5 00 p. M. Has Johnson Johnson kelly on. Talks with we are joined by bloomberg deals reporter, men will die gory. Elat makes us believe mau the gory. Manuel this is a story that is kept us intrigued. One of the most successful stories in european drugmakers. It has been covered some intense. Not the latest report approach by j j has been falling apart. Is in thesanofi drivers seat. It feels like it will be a high price and an interesting structure. Mark give me numbers. J j offered 260 a share or more, which is about 28 billion. Is there a number . See bite at . Elion is goingt seems sanofi to go higher. It was not just a matter of price. Also about coming up with an interesting structure that we convinced management. They have agreed to stay on and agree on a transaction. Hand toas a really good get this done, but they need to come up with an shifting price and interesting structure for convincing management. Manages to getfi this done, and there is a deal, does it then have a major advantage over johnson and johnson . Manuel Johnson Johnson has been trying to grow, through acquisitions, all its different is the slides. It has been acquisitions as recently as september in medical devices. Now it was time for pharma. It is an adjusting franchise to grow the division. However, as much cash as they have in their pockets, they need to be disciplined, and they need to make the markets work. They were feeling the price was getting out of hand, and the deal made no sense. They decided, as we saw last night, to walk away. For sanofi they suffer a pretty serious loss against pfizer on medication and other biotech. Another exciting story that we have followed. Has made itnofi clear they need to grow, and are willing to make acquisitions. This represents an attractive target, which will help grow the one of those it is rare opportunities to grow in europe. Acquisitionortant potential target for sanofi as well. Vonnie if they do not manage to do it, if the bid does not get high enough for actelion to bite, what else is out there for them . Manuel i am sure, and wiki. There are other, big, significant drugmakers interested, that are interested in jumping into the fray. Keep in mind the price is already very high. It is going to be very challenging for drugmakers, even if they are interested, to make the numbers work. Mark well continue to follow story. Manuel baigorri on this developing stories. Actelion shares, just looking over my shoulder, down 9. 5 to coming up, the close is next. A global perspective on the fed meeting from vincent and adrian and the european close is 34 minutes away. Have a look at what is happening to european stocks. We are down from the the second day in the stocks euro 600. Investors sitting on their hands away from the said. The closes next. This is bloomberg. Mark 30 minutes left in the trading day in new york today. Im mark barker. Vonnie in new york, im vonnie quinn. This is the european close on bloomberg markets. We will take you from new york to london, to paris and stockholm in the next hour. Here is what we are watching today. Decision day, the fed gets ready to raise rates for the first time in a year as the dow flirts. Ith 20,000 vonnie president elect donald with the mostng powerful leaders in the tech industry. A massive shakeup at goldman. Achs a how leadership is changing behind the scenes. Mark lets look at where european equities are trading. Investors twiddling their