Position as we head until then until the end of the year. Correlations breaking down as we continue to see the Broader Market gain. The dow and s p, because they closed at records yesterday, gaining again. That means they are records once again in todays session. Lets take a look at the various components of the s p 500 to get a better picture of what is going on. We have Information Technology here it down, free from the bottom. That is one of the reasons the nasdaq is lacking. Telecom, financials, real estate are gaining. It isnot as clear not as though cyclical are lacking and defensives are gaining or vice a versa. It seems as though it is sector and stocks. Utilities are up, declining the most in the s p 500. You will get into that later in our sector spider report to one group we are seeing clear movement is within the mall owners. Moll real state investor trust. That is because we have a deal announced. European mall company has struck a deal to buy westfield, based in australia but has a lot of malls in the united states. The 2. 8 billion dollars is the price. 15. 8 billion is the price. In particular, westfield is an a mall owner. It is a higher and mop. Some of the others that own malls are also seeing gains. Many of them are seeing activist interest in them. Centers, l. A. Management has a stake in that company. There is some m a talk or pressure being brought on many of these other companies. We will take a look at how mall owners have done this year versus real estate stocks. Not great. Here is the real estate component of the s p 500. Retail real estate has really a perfect underperformed. Done better. Have broadly, Retail Real Estate has not been where it is at this year. Julia we will be looking at the details of that deal later on. Lets get a check of the bloomberg first word news with mark crumpton. Mark thank you. Voting is underway in alabama in that special Senate Election to fill the seat left vacant i Jeff Sessions. Republican roy moore faces Democrat Doug Jones who cast his ballot in a birmingham suburb earlier today. This is an important time in alabamas history. We feel confident of where we are and how this is going to turn out. Feel so good about what we , anddone and what we said the people of the united states. Is backede moore who by President Trump is accused of Sexual Misconduct with teenagers when he was in his 30s. He is also opposed by a number of republicans, including alabamians senior richard shelby. Some estimates have a voter turnout at about 25 . The french president Emmanuel Macron is hosting 164 World Leaders and Business Leaders as well as prominent figures who were involved in fighting global warming. Major focus for the gathering is to help find financing for poor countries and industries to reduce their Greenhouse Gas emissions. President macron said fulfilling commitments to the climate agreement was the only way to win the battle against global warming. He also noted the very bad news of President Trumps decision to reject the climate accord. Californias governor is urging President Trump to fighting Climate Change or to get out of the way and let the rest of the world work on reducing emissions and investing in clean energy. Aking at a Global Climate he said the rest of the world is very serious about Climate Change. Violent wildfires in california as an example of extreme weather worsened by human made Climate Change. San francisco board of supervisors president has become the citys acting maitre following the death of mayor ed lee. The San Francisco native also became the citys first africanamerican female mayor. She has been considered likely to run for mayor after the last term expired in 2019. She could remain a mayor until june of 2018. Minnesotas governor is expected to announce a replacement for Al Frankens Senate seat at 11 00 tomorrow morning local time from the state capitol. Frank and resigned last week in the wake of Sexual Misconduct allegations. He did not give a final date on when he will step down. Global news, 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. Im mark crumpton. This is bloomberg. Thanks so much, mark. As mark mentioned, lets get back to the alabama showdown. Roy moore arrived on horseback to cast his ballot in the heated race. You would never see that in the u. K. Doug jones made a more conventional election to the polls. Jones is seeking to become the first democratic senator from alabama and more than 20 years. Bloombergs chief washington correspondent joins us from montgomery, alabama. Great to have you with us. The polls say this is nice edge, but you dont really get a sense until you have been on the ground. What do you sense from talking to people . Kevin they are undecided. Have spokens, i with several republicans in particular about how they are feeling. They have a lot of messages. There are some who do not believe the accusations against judge roy moore. There are others who feel President Trump endorsement of roy moore have provided them political cover. They feel it is a vote for President Trumps agenda rather than roy moore himself. There are others who feel they will vote for moore with the hope the senate expels them and they get another republican in there. It is a very complex, local issue. Which here in montgomery is a bellwether of sorts, a in alabama. F county i can tell you that democrats are fired up. I spoke with an administrative official where attorney general Jeff Sessions went to school and went on to become student body president. He said turnout is up. In terms of other special elections have been in the past. It is shy of the president ial level. Democrats are trying to rally the africanamerican community. A deeply conservative state that has not elected a democrat for governor or senator in more than 20 years. Scarlet i love the local color. Speaking of local issues, it feels like Sexual Harassment and allegations have taken center stage when we look at the two candidates. Policies have nothing to do with that. Education, health care, infrastructure, seems to have been swept under the rug. To what extent are these being raised locally . How concerned are the voters on the ground when they are going to the polls . Kevin such an interesting question. Last night, i was with roy Moores Campaign in the final campaign rally. More bannon speaking for than 30 minutes. He didnt really mention local issues. He just talked about President Trumps agenda. He barely mentioned roy moore. On the foot side, i would flip side, i would note within the last hour, the states attorney secretary of state said that they would send over the official documentation for when the winner of the special election will be seated. That is going to take place between december 27 and january 3. Sometime just after the Christmas Holiday and the new year. Lets note, if a democrat wins the state, that could have implications on the timetable for tax reform as we all know. Scarlet certainly huge implications are Kevin Cirilli reporting from montgomery, alabama, live on the ground. Thank you. We want to continue this conversation with megan murphy, editor of Bloomberg Businessweek. This is really a tossup. It is. It is hard to see what is going to happen. Senate , democratic senator, he would be the first in over 20 years. He needs to get turn up a monk amongst black voters who may flip over, given the accusations we have surrounding roy moore. I went to get back to the question about policy and issues. One of the things that has flown out of this election is alabama is a fascinating state. It faces so many entrenched obstacles as well as spots of hope. It still has the highest poverty rate in the nation. Its Health Care System is very embattled, constantly in this rural divide. Infrastructure, a huge problem. Those issues have been discuss this election. That is not actually that unusual given what we have seen this siren with some whistle politics that has dominated the american electoral generals. Scarlet it feels like this race has been hijacked it by outsiders. Steve bannon dimension local issues but talked about the president s agenda. Talk there is a lot of that steve bannon was a key maker and backing roy moore over the president s original favorite. Lets be clear about roy moore as a candidate. This is someone who has been known for extreme views for the entirety of his career. Even prior to the scandal surrounding alleged Sexual Misconduct. This is someone who was kicked off the bench for refusing to abide by a constitutional ruling. For someones stance on transgender issues is what most republicans believe. What this election will be today is dont listen to so many of the pundits, what it will be about is how still entrenched is in parts of the country, how much people still feel you need to burn down the establishment and almost any form. The trump stuff, mashed up politics, or whether or not this will be like what we saw in virginia where people have switched their allegiances. Scarlet we have some breaking news. We want to go over to washington where Senate Majority leader Mitch Mcconnell is speaking. Lets listen in. All still in an discussion with our colleagues on the house side. I dont have any news to make on that front now. We hope to wrap it up pretty soon. We are winding down on 2017 and i am hopeful by the end of the year we will be able to say we did three major things. One is we have confirmed a Supreme Court justice in a historic number of federal court nominees. We have reformed the nations tax code to make it simpler, more progrowth, and giving all americans a tax cut. And we have rolled back the Regulatory Overreach of the Previous Administration that was like a wet blanket on our economy. Confidencen consumer having technical difficulties. We will return back to washington when we get a chance. Im easily, no new movement on the tax reform plan. Julia perhaps getting an announcement megan heres the thing that is interesting. We should not forget how many eggs they have in the basket. Can talk about other legislative accomplishments. But to they have put their eggs, and those eggs looks like they are beginning to mulder and iraq. And rot. When you go down to washington, you hear republicans get a little nervous that what they thought would be seen as a tax cut for all and a way to boost the american middle class is being seen as what it is. Which is a massive transfer of welfare. Of wealth. Wasa the cbs news poll illuminating. 22 of americans find taxes will be lower. 41 saying that taxes will be going up. The numbers for democrats in high tax states like new york and new jersey. We keep saying, analysts keep saying this is critical, getting something done is critical for the midterms next year. Yet, when you look at those numbers, if that is the perception surrounding this success to the gop, megan there is a great model here. It is known as the Affordable Care act. When obama does that regardless of your views on the Affordable Care act now, that became a political albatross. Not only was a constant rallying point for republicans in the midterms in 2010 where they turned out in huge numbers, it became a real legislative albatross for president obama for several years. There are people who are speculating. On the flipside, it is central to the party. Tax cuts will benefit the middle class p the numbers are not there yet. You are entirely right. The risk is just as equal to the game. Talk about royo moore. Circle back to where we started. The point you made about the enduring limitations of democratic the Democratic Party in the south, if indeed roy moore wins, despite the north, south, the world rural divide, republican rule, and the fact that the democrats capitalize on that at this stage. For thee is set Republican Party heading into the midterms if roy moore does indeed win this senate seat . Fore could become locations them afterwards, as a result of him being there. Megan there is a lot of talk that this will become something that really rallies democrats across the nation appear people say, the democrats are in a winwin position. If they win and get doug jones in the senate, that benefits their numbers. If roy moore wins, they say the perceived wisdom is it will hurt Republican Party the Republican Party. There is a person that misconduct with teenagers in the senate. I dont think that is actually true. We live in a new cycle that is so incredibly rapid. It is not clear whether or not republicans, democrats, will forge roy moore out of the senate if he is elected. Frankly, it is not clear this type of conduct has longevity in the cycle we have seen when we see constant traction to have a lasting power and negative impact. Instead of President Donald Trump talking about the election, he is tweeting about another senator to a classic bait and switch, on a day when everyone is focused on alabama. Julia glad you mentioned it. Scarlet megan murphy, thank you so much. A wellrounded conversation on all things washington. It is time for the Bloomberg Business flash. Julia a look at the business stories. They are looking for a buyer for their stories in spain and portugal. An company is offering agreement for 472 million. Which allows the buyer to vacate the property after five years. Officials say the move is partly to strategize, but did not confirm the price. Beenal executives have suspended on allegations of Sexual Harassment from former stylists, the nfl network has suspended hall of fame running back marshall faulk. Former nfl Network Executive producer, Eric Weinberger has also been suspended from his role at the media company. Donovan suspended mcnabb and eric davie from appearing on its network during investigation. The investigations include groping, sexually explicit comments, and nude photos. It was filed in a los angeles superior court. Your business flash update. It is neverending. Scarlet for more on that exclusive reporting, diversity reporter Jordyn Holman joins us with more. This is a commendation of a lot of accusations in the past. That were made before. Can you tell us about the backstory . This lawsuit against the nfl network was filed in october. It was one day after the harvey the newn story broke in york times. When i was speaking with the lawyers, they said there was not a greater understanding for Sexual Harassment or how invasive it might be in workplaces. Yesterday, they filed an amendment naming names. That has really brought howeness to how present pervasive they allege this Sexual Harassment was at the nfl. Scarlet jamie cantor, the person making these accusations, she raised concerns about working at the nfl network before, complained to her superiors and nothing was done. Jordyn yes. She was a wardrobe stylist at the nfl network for 10 years. She had raised this complaint that the players, the former players were texting her nude photos and groping her in the mornings. She said instead of good morning, they would grope her in the breast, the but, so her supervisors said that as part of the job. She is alleging she did not even have a support system while she reported it. Julia have we had any feedback . Have we contacted the accused individuals to get feedback on the latest or deep dive into these allegations . We definitely reached out to the people named in the suit. To be clear, the only people being sued is the nfl network and one of her supervisors. We have reached out, they have been suspended. We have not heard any statements further than that. Scarlet developing story here. Thank you so much for that exclusive reporting. A quick programming note as we had to break, tune into our fed special tomorrow at 2 00 p. M. Eastern. We will give you the latest analysis and reaction to the fed decision from former get fed governor, and much more as we look ahead to Janet Yellens final News Conference as fed chair. This is bloomberg. Scarlet mrs. This is bloomberg markets. Julia john burbank has shed his flagship hedge fund, calling the last two years unacceptable. This begs the question is it time for a new strategy . With aels that fell hedge fund, the industry is fading fast. Just check out this chart. The yellow bars are Equity Hedge Fund assets. 60 000, they accounted for, of all hedge fund assets. Today, it is less than 30 . Joining us with the latest, Peggy Collins who leads the u. S. Investing team for bloomberg. These guys put the hedge in hedge fund. Peggy exactly right. Julia that chart is illuminating, even with the discussions we continue to have about the struggles these guys are facing. Peggy thats right.