Offset the losses. Abigail a good observation. We are looking at risk mixed trading action. The nasdaq little bit lower. Energy one of the top sect yours, not able to offset some of the weakness we are seeing in other names. Take a look at the dow, on pace for another record close. The dow is on pace for its fifth day higher in a row. On paper, its best weeks since the end of tape and of april. And thehad the dow nasdaq closing at record highs for two of the so far three trading days of this week. Its take a look at one big area of movement on the day. Oil up about 1. 8 on the day, up for a fourth day in a row. It is not just the department of Energy Report yesterday, where the gasoline inventory was a much bigger drawdown than expected, but that Hurricane Harvey is a bit of a reset for the energy market. Plus, he thinks the dollar falling is a big positive for oil. A chart we have looked at before over the month. It is a moving trading range, around the 33 day moving average. We see it has been pretty reliable, right now moving toward the top of the range, about 53. It is worth noting that oil is back above the psychologically important level of 50 a barrel. Mike the glowing thinks we could see 60 in the not so distant future. The losers on the day were looking at aquifer acts. Days. Er the last five continued fallout from the fact of the credit bureau. Many senators calling for probes of various sorts. Bitcoin down at 23 after jamie dimon, said he thought bitcoin could be a bit of a bubble. If we hopped into the bloomberg and look at the technicals of bitcoin, we could see more of a decline. Over the last year, up nearly 500 . The 60 day moving average, the , it few times that happened has dropped to the 100 day moving average. It could be a drop of 40 from the top. This is bearish action for bitcoin. Abigail doolittle, thank you. President donald trump had dinner with the house and Senate Minority leaders at the white house last night, as we know. Today, he tells the press he sees a dreamer deal happening within the next six months. The president also discussed the future for the u. S. Mexico border wall. President trump very importantly, what we want we have to have a wall. If the wall is going to be constructed, when we need the funds at a little bit later date we will be determining how much we need we will not be doing anything. Vonnie President Trump is setting out to look at Hurricane Relief efforts in florida. Lets bring in Kevin Cirilli from capitol hill. That dinner last night certainly producing a lot to talk about today. At least his latest statement from senator Mitch Mcconnell suggesting that the white house does not have legislation, or at least has not presented actual legislation that it would be happy with, to the Senate Majority leader. Class absolutely. Just in the last hour, we have received a statement from Senate Majority leader Mitch Mcconnell about all the back and forth happening regarding democrats and President Trump on daca and funding for the wall or Border Security. The majority leader says, we look forward to receiving the trump administrations legislative proposal as we continue our work on these issues. It is going to be interesting to see how the president is able to keep republicans together on this. Should also note that within the last 24 hours, as this has heated up, he has received some criticism from ultraconservatives, most notably steve king, a republican representative from iowa, who has called this amnesty. As we heard from President Trump, the president is pushing back on that word, saying any deal with the democrats on daca would not be called amnesty. House,s like this white with chief of staff john kelly, is really trying to walk this political tightrope to try to get to some type of deal within the next couple of months. Mark kevin, shery shery kevin, from what you have heard on the ground, what would a deal look like . Kevin that is a question that will come to a head in middecember, because there is talk that we should be careful when we say this there is talk of sources that have hinted at this, in the republican party, that daca could be part of the deal in december, when they have to raise the debt limit and pass a personal a partial government funding bill to avert a shutdown. That was interesting last week, when the president was able to garner some of the democratic support and go with them. He is hoping that that good political will will allow him to get some capital to reach that deal december 8. If you are watching this trying to see, are there going to be any political hiccups in middecember right now, it looks like there could be, but the president is trying to avert that. Vonnie i want to point out that paul ryan will be speaking at the podium you are looking at in just a few minutes. Let me ask you one more question, kevin. President trump said in florida today that there was going to be no obstruction of the border wall. Even if there is a deal within the next six months, there is going to have to be some language about an actual wall in there, some funding, Something Real to do with the border wall. Well democrats ever agree to that . Kevin no, democrats will not agree to the wall, as there is a symbolic sense of what that has, to represent. Mexican government officials, and we should note that the geopolitical global sense nafta negotiations are very much underway, and the mexicans have said they are not to have any wall hasing, as symbolic as it become known for. They say it is a nonstarter. This is where the communication strategy and the shift we have seen in the maturation of this administration and the last several months really gets interesting. When you look at polling, especially in states like and wisconsin, government funding for preventing drug cartels from having money go over the u. S. I am sorry, having drugs shipped over the u. S. Mexico border that is something there is democratic support for. How he is communicating that is going to be interesting. Work onying he wants to daca. The bottom line the president has seen that he likes to be on the ground, whether it is Hurricane Relief. He likes to be there. That is where he is this afternoon. He also wants that political victory when, where he is on the border with a hard hat on his head, seeing images offthewall or some type of construction being built. Vonnie thanks. Two Kevin Cirilli, bloomberg chief washington correspondent. Newse awaiting a conference from u. S. House Speaker Paul Ryan. We will bring you his remarks as soon as they happen. Shery lets get a check of the bloomberg first word news. Mark crumpton has more on that. Mark secretary of state Rex Tillerson is in london for talks with senior british and french officials. On the agenda, plans to pressure north korea over its nuclear and missile programs, the response to Hurricane Irma, and unrest in libya. Speaking to u. S. Embassy staff before the talks, secretary tillerson said the goal was to not the Peace Process together, process backpeace together, not put libya back together. Kim jonguns regime threatens to use a Nuclear Weapon against japan, saying the country no longer news to exist. Japan called the statement extremely provocative. North korea is showing signs of preparing for another missile launch. Next week, british Prime Minister theresa may takes her brexit Charm Offensive to italy. She will speak in florence and argue the u. K. Can work mostly with the European Union after leaving. Chancellor of the exchequer Philip Hammond says the e. U. Has legitimate fears over the future supervision of financial markets. Later this month, german voters will decide whether to give chancellor Angela Merkel a fourth term. Will needonservatives a Coalition Partner to govern, and there is talk to leftleaning green party could join a grand coalition. The partys secretarygeneral spoke with bloomberg. It is not good for the country in the long term to have all of these coalitions. Therefore, all parties are asked to see how it what else is possible. What we need to do is having serious talks, and to see what is possible. Isk the german election september 24. Local news 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. Im mark crumpton. This is bloomberg. Shery thank you. Coming up, we speak with the ceo of sbe entertainment group, who on some of the most Luxurious Hotel properties in miami. We show you how irma is impacting business there. Vonnie this is Bloomberg Markets. I am vonnie quinn. Shery i am shery ahn. Vonnie we are awaiting a live News Conference here in u. S. House Speaker Paul Ryan is going to beginning giving his weekly conference, but we anticipate comments on daca and potentially be dinner at the white house between the president and the house and Senate Minority leaders. We will bring you paul ryans remarks as soon as they happen. You can follow it as well on tv. Hurricane irma pummeled the state of florida and miami included. Irma estimated to have cost 49 billion plus of damage to the state. Chairmanined by the and ceo and founder of sbe entertainment group, which owns hotels, residences, restaurants, and nightclubs in the south beach section of miami, along with other areas. He joins us now for an update on where things stand. How extensive was the damage to your properties . You are really on the main drag. We have several properties in miami beach, south beach specifically, historic properties, art deco properties. We really feared the worst because of the storm. It looked very catastrophic, coming directly into miami. Luckily, from our perspective, it was not as bad as we feared. We did have damage in some of the assets that i think normally would happen in a storm. Opening news is, we are the majority of our hotels on friday, tomorrow. We are offering a 99 rate for all florida residents that do not have homes, do not have electricity, making them feel part of the community in our seven hotels. You have one hotel that saw flooding coming in. That opens today. We got very lucky. Overall, it was not as bad as we feared. Our hearts and prayers obviously go out to the people who did get affected, and florida, the caribbean, the bahamas. That was heart wrenching to see. Vonnie at least when it comes to the consumption side consumption did plunge after Hurricane Irma. The expect people to go about business as usual . Or when do you expect business to pick up . Is asouth florida resilient market. This is not the first time we have had a hurricane. We have dealt with this problem for generations. This is not the most peak time anyway. The fourth quarter, in november, and the second time of 2018. A lot, it did not of the conventions of been canceled for next week. People are resilient and love south florida. Vonnie in a way, the thought is it might be a good time to go, because there are deals happening, and you mentioned the 99 deal for local residents. We heard from the president and governor rick scott that power is being turned on and all sorts of areas. What about the idea that you are expanding generally, but maybe it is not a good idea to keep building in miami beach and south beach . Sam i disagree. I think miami is a market that has become in the last 10 years much more global. From a residential perspective, community and culture, miami is the third most important city in the country, with connections to latin america and western europe. I am long miami and florida. As much as we can build their we have 11 hotel projects, eight open and three under construction. We are long florida and will continue to be. Mark you seem to be long internationally as well, especially when it comes to the middle east. You have a reputation for investing during tough times. Is that why you are going big when we have this oil fund going on . Sam we are an Asset Management company, a fully integrated brand. We have hotel brands and food and beverage brands. We own some of our assets. In the middle east, we have great partners, such as in doha, qatar. We have a lot more pipeline. We have a Hotel OpeningFirst Quarter next year. We have six Hotels Opening in the next x months. From our perspective, we like to think we have a Great Partnership with developers who want great brands and it will 360solution a full solution for luxury lifestyle. Everybody is trying to get into lifestyle. We think we are the largest player. Vonnie there are fantastic brands. We have a president right now that knows a lot about rants. What about brands. What is the secret to holding onto a brand people gravitate toward . Sam the relevancy is important. Evolutions are important. If you look at a brand like four seasons, it started out of toronto as a motel, and now it is one of the best stories and hospitality. Collaborations are important. We collaborate with the best architects, designers. Philippe starck is one of our biggest collaborators. Having our finger on the pulse of the evolution now, it is millennials, and we think we are the home of the evolution of millennials. Vonnie thank you for joining us. We have to get to House Majority leader paul ryan. Have a listen. Speaker ryan today, the peoples house passed all 12 funding bills on time. Let me say that again. Andreason you see these men women appear is, we passed all 12 of our preparation bills on time. This is the first time the house has done that since 2009. We have done our job for the people, but more importantly, we did our job the right way. We did it through regular order. We moved these bills through subcommittee. We moved these bills through full committee. We had an enormous and process on the floor. And we achieved conservative victories for the president s agenda, for our agenda. Servicemenite for and women. We strengthened border protections. We defunded planned parenthood. And we used our majority to get this done. We set out to see if we could get all 12 bills through the house, taking a conservative approach, and we succeeded. Of course, we have got a lot of work to do and need the senate to work with us to get these on the president s desk. But this is a proud day for our majority, because this is what people sent us here to do. I want to thank chairman and all our subCommittee Chairs. These men and women have done a tremendous job getting the work and of the peoples business, making the house work the way it was intended to work, getting our bills done on time. It has been a long time coming. I am so proud of these men and women for the hard work they have done and the great victories this majority has been able to produce bypassing all 12 bills ahead of schedule. With that, i would like to introduce the chairman. Chairman thank you, mr. Speaker, for your leadership. You empowered the Appropriations Committee to continue its historic work as regular order. And i want to credit those who provided the deliverables today. It is a 12bill package, but we bills in two parts, four and then eight. My Committee Chairs behind me did a good job delivering on defense, homeland security, making sure we have the necessary means to do good things with the department of health and human services, nih. We have an Incredible Group of committed individuals and i am proud to represent them and speak highly of them. Leadership, mr. Speaker, in support of our committee, our work, we were able to get it done and through the caucus. Thank you very much. That was paul ryan speaking at a regular press conference. Could be on the verge of making its largest investment ever in a Key Technology for the iphone. We will tell you what Company Apple is eyeing in the deals report. Vonnie house Speaker Paul Ryan on capitol hill right now, taking questions from reporters. So far, he says there is no agreement between democrats and President Trump on daca or the dreamers. He also says that the democrats, the House Minority and Senate Minority leaders, were at the white house last night and had a discussion, not a deal. And negotiations on immigration have not begun. Lets bring in Kevin Cirilli, bloombergs chief washington correspondent, and the Bloomberg National political reporter in a moment. The first, lets listen in to the speaker. [no audio] speaker ryan look, anytime you see deadlines deadlines can help. The president , i believe, did the right thing when he rescinded what we believe is an unconstitutional executive order, but also giving Congress Time to come up with a solution. This gives us the opportunity to address one of the fundamental root problems that the president campaigned on, that we all have been talking about, which is getting operational control of our border, making sure we get Border Security and enforcement, so we can sell some of the problems we are facing in this country. Solut