Up more than. 5 . Relatively Small Economic data this morning. Consumer prices, having the best backtoback monthly gain since the spring. Month in three, although overall, Industrial Production did pull back. All those are pulling stocks. The move,ctors on Consumer Discretionary highs today. Health care, telecom, financials, the biggest rates and utilities. The dollar strengthens today and that is one of the reasons. Bout s trading at a about a six year low. Oil,was looking at the there were only three sessions for the month of november that oil has risen. It pretty abysmal month so far. Analysts are pointing out the snapback can be really fierce. On the upside, retailers like walmart. Change. Y a coming out the highs of the sessions, up 5 after profit beat estimates. The company under the ceo are turning things around particularly in the United States. It held up relatively well versus things like apparel or home depot out with earnings and analysts out with estimates. Were seeing evidence analysts are willing to sell out their homes. , shares ups margins for and for present. The retailers have better than negotiated retail power to get that inventory. Seasonuff is more in than they do typically. Dont find anything in Department Stores like macys and blooming dales. Thanks so much. That happens every once in a while. Thank you. Belgium is deploying up to 300 a threat level over the weekend. We now send it to jones. Thank you so much for your time. So far, they have come up emptyhanded. One of the bombers in paris who subsequently fled back to belgium. At this point, there are indications it might not be there anymore. They are still carrying out the manhunt, especially in the region, the area here in brussels. We have twot, arrests, people tied to the attacks in paris. The two individuals were charged yesterday. Not beenntity had disclosed. They all have connections to this area in brussels. That things are still tense in paris and throughout france. Can you give a sense of what it is like an belgium can sintering Authorities Say some of the suspect came from there . There is a sense of hear. Ding if you will it is coupled with the spirit presenceeally feel the of military people on the street when youre walking around, especially in the eu institutions here. Is a combination of people, you know, is it really safe here . We know this has been the center of some of the extremist activity event though the attacks have not taken place here. Ofk in january, in the wake the Charlie Hebdo attacks, they did foil a plot in eastern belgium and we have that on our minds as well. We have about 15 seconds to it are hearing a soccer match has been canceled. Right. That is tonight, belgium plays spain because of these concert security concerns, they had to cancel the match. We were really looking forward to it. Mark bloombergs bureau chief in brussels and belgium. Thank you. That is a look at our first news alerts right now and more on these and other breaking stories 24 hours a day at bloomberg. Com for diane mark crumpton. Alex and scarlet, back to you. Alix we turn our focus to the Federal Reserve and malik monetary policy. 68 . Not everybody is convinced and that is really the bigger question in the market. Joining us now with more, the head of global Interest Rate strategy at td securities. Thank you for being here. A target forve lift off in december. When you look for what the pace will be, youre looking at something specific, the difference between a threemonth euro dollar consumer contract from march of 2016 in march of 2017, we have a chart that is a little confusing. Explain. Think the contract is an way to tease out exact market pricing. You look at the 10 year rate, that is the average rate between now and two years. If you look at the rate, you are looking at the exact threemonth rate in march of 2016. The exact rate in march of 2017. That is picking up your expectation of the spread. The spread is a little bit above you itmarket is telling would only be 60 days higher between march of 2016 and march of 2017. If you think of the basis we all get gradual will be less than 2004. They rent every meeting. 200 basis points a year. Pricing and basis points, that is what i disagree with. Does notrgue the fed want to get off for the sake of hiding. Donewant to get a few they canhe only way get it done is 21 basis points. You can evaluate the data and say how is the economy anduating how the economy financial positions, you need to it done. We are living in an uncertain world. We see it kind of picking up the not extremely robust. I can see why the market is pessimistic. The fed will at least want to get a few done. One perspective that has become conventional wisdom is that liquidity is a huge problem. What are they missing . Regulators look at average liquidity. If you look at a lot of these measures, look at trading volume, they do not signal a problem that i have argued and i think a few people are arguing is not necessarily liquidated liquidity average that is the problem. Unfortunately, certain days you need liquidity much more. October 15, a coveted sample of the basis points over 10 minutes, which should not happen to the u. S. Treasury market. We have noticed they have been 16 of these nfc and more of a tenure. If that were true, you should have seen volatility. He really do not trade i should point out this is another anomaly. It is actually cheaper now to swap from the fixed income rate to a floating fixed, for example, versus the treasury. Are we really pricing in the sovereign risk in the market where it is better to trade with banks than in the u. S. Market . I think what it is telling you is swap spreads incorporate the cost of about she. Treasuries holding has gone up over the last two or three years as banks are trying to incorporate a cost of balance sheets. All of them are cheapening and it does not have the costs. That is what they are highlighting. This ands that between corporate spirit you are seeing it in the treasury market, which is odd. The u. S. Sovereign has been shown changes. No changes in our projection. I do not think it is credit worthiness. Cheapening, it is expensive to hold. Scarlet all right. Thank you so much for joining us today. Coming up, france is president security as aland announces the country is on a war against isis. We will take you to the latest in the investigation. Scarlet Online Shoppers will be able to score major cyber deals. We will take you live to the Los Angeles Auto Show where we hear from the president and cofounder of left that just teamed up with justin bieber. We are believers. I do not know what youre talking about. Justin bieber fans. Alix welcome back. Scarlet lets head to the market desk where julie hyman has a check on individual movers starting with retailers. We looked at good retails and this is the bad part of the equation. After it saidrs it was buying a pizza chain. Today, the stock is down about the same amount as earlier. After it came out with earnings after the close that missed estimates, revenue missing estimates as well. Comparable sales up by 1 . Weeku look at the one chart, that began last week when we got those Department Store numbers, causing concern for demand of apparel. Another one down with the earnings. We also got earnings from Dicks Sporting Goods that missed estimates. The company cut its forecast for the next year. Demand was strong during the backtoSchool Shopping season and then started to fall off and blamed warmer weather among other reasons. Other Sporting Goods related companies are also down and under armour is taking a hit. Lululemon also down. Take a quick look at my bloomberg terminal. This was compiled by bloomberg intelligence. The downward volume change for supporting good stores modify my spirit in october, the first declined to february. Obviously, members reflecting that and there was concern about what other sports retailers may say as well. Scarlets love for leisure aside, it seems as though people are buying coldweather merchandise and the demand is lower. Alix the terror attacks in paris ignited a global debate on how western countries should respond. Scarlet earlier today on bloomberg , Neil Ferguson financialed discussed and political and locations of reacting to islamic extremism in france. The major concern is we end up delivering what the terrorists want. Which is, we end up slowing down economies by overreacting and the next thing we know, we trigger a series of tipping points and we have got to be careful about how we respond to the crisis. If youre so worried about any event, what will happen . Gdp and trade classes. The french are worse off. Doingone is proposing that to what were seeing is a crackdown on the thousands of sympathizers and active supporters of the Islamic State inside france. Lets face it, they do not always get their future rights. The middle crisis in east and right nextdoor to north north africa, right next door to europe. A massive influx of people in the millions, mostly heading for northern europe. Some of them are a small minority. I will be terrorist sympathizers, and the emergence of a fifth column over generations within europe of supporters of extremist groups. This is the critical point. Difference will on become on friday, didk, they become more anglo saxton with this terror event . I would like to see the United States get a little more french. The french have been eager to intervene effectively against the Islamic State. It has been britain and the United States that have been holding back. The french were highly effective against al qaeda. The french seems to have the right attitude, which is that you have to smack to these people. Thefrench have been slow on uptake and they need to get tougher on domestic issues. Barry sterned blamed the president. Legitimate to say in his presidency, barack obama vanmade no bigger mistake in syria. He held back 2011 and 2013. He turned it into a pink dotted line and handed over to the russians. Less kicked them out of the reach and in the 1970s. It has been the biggest mistake of his presidency and has cost more human life than bushs intervention in iraq. We go live to paris where Brendan Greeley is on site. The french president says france is in a war. In a paris for a few days. Does france feel like a war zone . Like queensels after september 11. Everyone gets a little scared when they hear a police siren. Life goes on. There is acommuting plan for courage. People will sit defiantly in cafes. What has happened is the end of indifference. The french can no longer afford to be indifference in different about the threat. What does it wind up doing for keeping things normal for the markets . What did you make of that point . We have to look at a scenario slightly less dramatic. I do not see the french shutting the economy. Europe stops allowing the Free Movement of goods. One thing is to have the Free Movement of capital, which ultimately is good for an economy. What we are looking at is the possibility of the border control. One thing the European Union has quietly done well for a long time, that is much bigger concern, particularly in the east. Scarlet we will speak with david later in the hour on the situation that has gotten worse. Big, amazon is betting rolling out their delivery service. Will their investment payoff . We will bring the story next. Scarlet welcome back. Breaking news. In talks to acquire airgas. Airgas distributes industrial medical and Specialty Gases and related equipment. That company having a market cap of about 8 billion. Scarlet if you come inside the bloomberg terminal, you can see how shares of airgas have traded in new york, they are up about six 6. 2 . A big leg up here at the stock was actually halted for trading and just reopened to now. Alix more details when we get them. , amazons zeroing in , metropolitan areas home to 75 million people. Will the expansion payoff . Joining us now is Reed Stevenson from San Francisco. Will this payoff. People could not get their packages even if they got them delivered a week he for . Amazon invested a lot of money shoring up its delivery system. This year, they are taking that a step further by introducing sameday deliveries. This is a challenge to target and macys and other brickandmortar retailers. They want to give the immediacy of shopping through the online experience. That will be an interesting dynamic in the holiday season. Is this a threat to brickandmortar . I do not think there is any danger of people choosing to shop on amazon instead of going to the store. There will always be a reason to track over there and do lastminute shopping. It is an indication of where amazon wants to go as it tries to eat away at the market share of the physical retailers. How pricey is it . It is expensive and it costs about four times as much for sameday sales. We will see how the numbers shake out when we see earnings for the last three months in january. Scarlet thank you very much for joining us from San Francisco. Alix up next, the robin hood Investor Conference where he talks about his latest call right after the break. I just had a horrible nightmare. My companys entire network went down, and i was home in bed, unaware. But that would never happen. Comcast business monitors my Companys Network 24 hours a day and calls and emails me if something, like this scary storm, takes it offline. So i can rest easy. What. You dont have a desk bed . Dont be left in the dark. Get proactive alerts 24 7. Comcast business. Built for business. Scarlet we have some breaking news the department of justice will be announcing some criminal and civil actions related to dietary supplement sales there are no Companies Named in the advisory. Alix but we do have Companies Moving on expectation of what those Companies Might be. This is green line you are looking at this green line you are at is gnc and then Vitamin Shoppe the orange line is herbal life. Broke, see as the news all of those stocks took a big leg lower. Over to lets head first word news with mark crumpton. Mark the french president will travel to washington and moscow in an effort to build up a coalition against Islamic State. He is scheduled to hold talks with president obama on november 24 and then will meet with the russian president on november 26. Speaking to parliament yesterday, he said a global effort was needed to defeat what he called the biggest terrorist factory the world has ever known. He met with that u. S. Secretary of state in paris after their talks, secretary kerry said even in the tragic aftermath of friday deadly attacks, progress is being made. Have liberated significant communities, communities in syria, three quarters of the border in Northern Syria is now under control and we will be working on the last portion. So there is a Clear Strategy in step, the momentum will pick up. Mark two suspects have been charged in a global manhunt is underway centered in brussels for a another man thought to be one of the masterminds behind the attacks. A battle over funding for Syrian Refugees could lead to the next of the u. S. Government. Alabama republican senator Jeff Sessions wants lawmakers to add language to the next Government Spending bill that would block plans to take in 10,000 Syrian Refugees. 25 republican governors have promised to keep Syrian Refugees out of their states. Russian president Vladimir Putin says he is confident that a bomb brought down the passenger plane over egypt last month. A 50 millionring reward for information leading to the capture of the person or persons behind the crash. A look at our first word news. You can get more on these and other breaking stories at the new bloomberg. Com. Im mark crumpton. Back to you. The top investors in the world are announcing their big bets at the robin hood Investor Conference. Andloeb took the stage spoke about big pharma. Lets head over to Stephanie Ruhle who is at the conference. What was your take away . Stephanie the robin hood Investor Conference, while it is off the record, when a guy like speaks, people get to hear. He led with a joke people in the market, especially in tech investing have spent so much money because of the fear of missing out. What is it were valued at . I have to get in there. Dan says we are starting to see a crack in terms of tech valuations. Fohos turned from fomo to fear of getting hosed. When a company like uber needs to clear 5 billion, how is it going to make money . Saying the bubble is bursting, but we are seeing a crack. I love that. Last year, you spoke about he spoke about amgen. Did he given up eight on that . Dan loeb he did. Amgen, he says lets stay the course. While the stock is up 8 , they have for drugs that have come to market. We are just seeing signs of these drugs really getting popular, but he thinks they have a lot more room to grow. Scarlet what did he say about allergan . Stephanie he was very complimentary of the ceo in terms of being able to operate well and optimize. In 40 billion in cash with the generics deal. Can also do that he it through acquisitions and we talked about the pfizer deal. Is so hot in the space, what did he