vonnie: much to cover today, including catalunya's parliament voting for independence moments ago. we will cover that in a second. first, breaking economic data. here is abigail doolittle. looking at the university of michigan sentiment. it is an even match. the final survey called for a reading of 100.7. that is where the survey came in for the final reading for the month of october. we are not seem much of an influence on stocks. a little mark -- a little bit of a mixed picture. take a look at the nasdaq right now, on pace for a record closing high. putting in a all-time high. the of tech winners hoping nasdaq. we will dig into some of those in a moment. on the week, the dow and nasdaq are on pace for weekly gains,

and with the s&p 500 gain, too, we are looking at another weekly gain there. the best weekly winning streak of the year. pretty impressive. let's look at one of the drivers for this impressive amount. the earnings season, the third -quarter earnings season. andopped into the bloomberg look at g #btv 26. the companies that have beaten estimates -- -- 2346. the companies that have beaten estimates. season is likely to be a talent because the expectation was for year-over-year growth of lust and 2%. 75% ofseeing that with the copies that have reported in the s&p 500 so far beating, and it gives us a tailwind for the

s&p 500 and the nasdaq. let's take a look at some of the tech winners for the nasdaq. all of these companies, as you can see, absolutely soaring, putting up huge, huge third quarters. both microsoft and also that at all-time highs. intel at its highs level since 2000. it seems the cloud is helping all of these counties. microsoft beat estimates for the legacy" units. for amazon, the cloud was the most profitable unit. google impressive in terms of growth. sales grew by 24%. pay clicks up 27%. intel been helped by the court as well. vonnie, i will toss it back to you. vonnie: yes, to appear to have a headline crossing the bloomberg. president trump is said to be leaning towards jay powell as an appointment for the next fed chair.

this is according to three people familiar with the matter. the decision is not final yet. we know we're supposed to know before trump leaves for asia, which happens november 3 at the end of next week, as always with the caveat that the president could change his mind at any time, mark. mark: check out what is having with european stocks, up for the week. let's get reaction to events in catalonia. the euro falling by his second consecutive day. sinceggest two-day drop december, on track for the biggest weekly fall since november. down to 1.1612 today. the ecb took a dovish tone when it reduced its qe by program starting in january. let's get to spain. this is a one-month chart

showing the spread, the difference in yield between the spanish and german yield. the spread narrowed to its lowest level since september 19 20 -- and 20 or so minutes ago, parliament voted to implement an independent state. we will speak to journalists in just a second. yesterday we closed at the spread of 1.2%. justis the narrowest since before the referendum three or four weeks ago. the spread closed at 1.14%. news, the spread came down before the referendum took place. in light of that ms. just a few minutes ago -- of that news just a few minutes ago. that is interesting. it was lower going into that news from the catalan parliament. it is even lower now, down by 1.7% since the referendum.

ibex and the stoxx 600 on theng markedly today back of the news we are hearing just a few minutes ago. vonnie: absolutely, and we were -- and we will hear from the madrid parliament will materially no doubt. any other breaking news this hour, president trump leaning toward appointing jerome powell to be the next chairman of the fed. this is according to people familiar with the matter. we know the president can change his mind at any time. powell seems to be the favored. he has been running up the rankings recently. we heard from john taylor last night speaking in wisconsin, and he was the commerce sort of, second person, leading the straw polls of who might be the next fed chair picked, however we are hearing from three people familiar with the matter that it is now jerome powell leading the

pack. before hear for definite november 3, according to the president himself who is leaving for asia that day. the dollar/in other -- in a little weaker. we are joined by barry bannister, stifel nicholas, in baltimore. barry -- barry bannister: i think trump views powell as steady as she goes. a continuation or does not want to rock the boat. it reminds me of late in 2009, a delicate point in obama's tenure when he reappointed bernanke. when your not getting much done initially, it helps to have someone in the that does not rock the boat. vonnie: we heard from a previous guest that powell would be janet yellen 2.0. is it for sure that powell would

continue the current trajectory of monetary policy that we are on? for sure. it is not they are different political parties, but in terms of overall gradual monetary policy, they are similar. one thing that bothers me, and we wrote about it today -- if dr. yellen leaves the board the board of governors would be half understaffed. there months of experience cumulatively of all the governors would drop to 120 months. the three-decade averages 320 months. ands an understaffed board the last time it was this understaffed was before the financial crisis in 2007. vonnie: a lot of agencies understaffed these days. let's bring in michael mckee. you know jerome powell well. you have been covering the fed for a long time. what would he bring to the fed that janet yellen has not brought or john attend -- john taylor might bring? michael: what it -- interesting

the way you put that -- what he would bring the janet yellen hasn't brought, probably nothing. he is not an economist. he will basically follow the policies set in place and be influenced by the staff, or anyone appointed as vice chair, or anyone who replaces yellen if she decides to leave the board. she can stay on if she wants. a shorthand discussion would be yellen-like. taylor would have more of an impact, as a well-known phd economist. he could influence the board in a lot of ways. he could have an influence on regulation, research, basically, sort of, the direction of the board going forward. as we were just saying, powell keeps wall street on the same course because he is not likely to deviate. that makes people happy. maybe that is what trump is taking. mark: the discussion of double-header is being put forward -- maybe you have powell

and taylor in the top two positions. could that be on the table if powell becomes fed chair and is nominated, is tailor then in the running to be vice chair? michael: absolutely, and donald said he is considering a package and specifically mentioned the two as part of the package. we do not know who would be chair and 2-wood be vice chair, but if powell were to be the chair -- and who would be vice chair, but if powell were to be the chair, it makes sense to have taylor be a strong number two. as vice chair in terms of setting the fed's direction for research and the way they think about monetary policy -- they will not implement the taylor rule no matter who is chair, so it might not make a difference whether john is or isn't. s&p: barry, you raised your 500 year-and target -- year-end target.

does a powell-led said make you change your target at all? barry: no. when you see growth and value working together, it is the sign of a broader, stronger market. super thursday earnings for the tech strong as was very strong. some of the cyclicals are acting better. i expect a 10-year yield to rise. i'm looking for a to rise just under 3% in early-2018. when you look at that, you can see how financials work. i'm a little disturbed by the late 1990's parallels. the fed made a mistake in late -1999. we will be looking at that in 2018. vonnie: barry, the reflation trade you have been talking about -- doesn't pick up steam? we have the -- does it pick up steam? it did not manage to break the key levels were looking at earlier, and i think 2.52% is the next key level. barry: yeah, then, of course,

the trump book trade in december or january was about 2.6%. that would be a key point for me as well. taper the other day lifts the floor for yields. i'm expect the german yield to rise from .4 to about .9 over the next year. if you live the floor, you can look the ceiling. the u.s. yield is restrained by yields abroad. better growth globally, higher yields, that is how we get to the reflation trade working in tandem with a high-growth stocks whose pe multiples and price two-sales has evened out. really, they are making it on earnings, not on valuations at this stage. vonnie: and michael, final question on jerome powell. if we are likely to see something by next thursday -- of course there are several months still to go with janet yellen. we got gdp debt is money.

it was the first reading. it could be very much revised. we have the several months. when we see a rate hike between now and presumably went jerome powell or whoever it would be would get confirmation? the marketat is expectation -- we will not see one on wednesday, but we will see one in december. that would be janet yellen's penultimate fed meeting. she will have another one at the end of generate, but no news conference. it will be her last chance to address if she is renominated, her legacy, and going forward. the fed is calling for three. if we keep getting three handles on gdp and unemployment at 4.2%, three or more could be on the table. we have no idea because we have no idea who will be on the fed and where the economy is going. interesting 2018. vonnie: thanks to our roundtable -- michael mckee, and barry bannister, chief equity strategist at stifel necklace. mark: we have breaking news on breaking -- on catalonia's

independence. maria, let's start with you. cattle and lawmakers voting for votedtle and lawmakers for independence in the pot -- defiance of spain. what happens now question mark maria -- now? the catalan regional governor is still inside. the last half-hour has been chaotic it we saw the secret ballot take place in the new republic announced. there are people outside here who are celebrating, happy about the news here, but of course a focus point is now moving to my drink. the senate has approved the measures, and madrid will take control of the region. the question is what will happen inside here. the cabinet meets later today. the first rule of water will be

to oust him from office. and, charles, let's get what happens next, because the senate has given runway power to oust -- mariano rajoy power to oust the catalan government. how smooth is that likely to begin given the defiance of protesters in catalonia? charles: that is the key question in terms of what happens next. we have heard the governor -- government's response. they have won the vote in the senate, which gives the government powers to effectively sack the catalan government, and we expect this with response. just as i was coming to the camera, there were reports the government had called an emergency cabinet meeting for this evening where we would expect for them to outline the measures they would take. they have spent they would gradually, proportionally.

now comes the response from hundred. vonnie: is their legs -- from madrid. vonnie: charles, is their legs to this, or is it seen as a last-ditch attempt to exhibit civic pride? events: we will see how unfold from here. what we do expect is the catalan secession movement to mobilize in defense of the catalan parliament, the catalan secessionist leaders. as i mentioned, the spanish government has to find a way to reassert control, but at the same time,, i suppose deal with these demonstrations and protests in barcelona and elsewhere in catalonia. vonnie: maria, there has been a lot of uncertainty in catalonia the last few days.

no one really, sort of, taking up the pitchforks him if you like. i wonder what -- pitchforks, if you like. i wonder what happen next in terms of real action. charles seems to think that is possible. also, his or any talk and how this is hurting the catalonia economy? maria: it is a great question. emotions are running high. there were people disappointing yesterday when the president seem to backtrack and seem to favor an original election. that cost up to go to his office and shout you are be train us. in terms of what can the catalan regional government do now, the pro-independent majority -- let's member they have a majority, they would say they are now a sovereign state and have the right to create new laws. we expect the central government to come up with a number of rules after 7:00 p.m. and say this is the direction we are

headed. what is clear is come tomorrow, the signature means nothing. he will not get paid as the regional president here, and he has no authority in the eyes of the court and the central government. the question is, and i think this is the key -- the reaction we get from people in the street. that is the final card he has to play. mark: that is the key, as you say, maria, because pro-independence activists had called for this human shield around government buildings when ajoy calls in the heavies to implement what has been decided. what do you feel will be the response from hard-line separatists in barcelona? maria: hey, mark, it really would not surprise me if we see that human shield here at the catalan parliament, and also the regional president's office.

i am basically seeing this here already. people were called to circle the government in a show of force and they did show up. thousands are circling the parliament. it would not surprise me to see that tomorrow, sunday, and going into monday. the society here in catalonia is incredibly invested in this, and emotions are running high. people yesterday thought they appear to be backtracking. there are being called to defend this new republic. emotions are running high. you have a society that is very invested in the issue. mark: that's a lot, maria. maria tadeo, charles penty. we have some breaking news on venezuela. vonnie: it was make or break day for holders of venezuela's debt when it came to the state-owned oil company. there was an $842 million principal payment due today. saople are skeptical, but pdv

says it has made the payment. if it was one day late, bondholders would have cried default, and if we have time, i want to show you in the bloomberg, our prices for venezuela debt. it is g #btv default, and if we have time, i want to show 2891. you see in recent days, we had seen that drop. well, pdvsa has made the debt payment. time now for futures in focus. joining us from the cne to talk oil and maybe the dollar, phil streible, senior market strategist at rj oh futures. risen.out how brent has it appears to be impacting beneficially oil earnings. streible: we see oil futures around the six-month high. the biggest concern is opec will extend and further extend

production cuts. you seen a decline in gasoline inventories as indicated on the last report. what investors are starting to look at is the equilibrium on supply and demand at this price level, right at the $52 range. in addition to opec, russia will continue to cut as well. it is really a collusion between all these different countries here trying to boost prices up. i would continue to watch up for a break above $53. if we see that, we will see better earnings, but across the board with all these oil companies -- production copies. count thatughes rig is excepted to, today is expected to decline a little bit. that can be the catalyst that pushes it up. the other line in the sand is $50 -- if we cross below $50, it could be a bad thing. what would happen is opec most likely is not going to continue the cuts, but it seems right now they are altogether and they want to boost prices.

vonnie: vonnie: and briefly on the dollar, it has been a great week for the u.s. dollar. the most recent move, the potential for jerome powell to be the next fed chair or at least the nominee, according to people familiar with the matter -- either way, does this dollar rally continues? phil: the dollar index has a fantastic move. we saw the breakout after the ecb meaning. -- meeting. again,lar is a basket, against 16 other currencies with the euro being the largest one. we could break through the next high, through 95, and we are working with traders on adding positions to the long side. vonnie: phil struble, thank you. phil streible is with rjo futures, and that was today's futures in focus. more on the breaking stories right ahead. ♪

president isia's

, ofking in catalonia course. it has been an eventful 30 or so minutes. catalonia's parliament voting to declare an independent state, setting up a dramatic confrontation with spain. the government in madrid was granted the power to seize control of the region. the establishment of the country had been set in motion. allncluded measures to ask nations and institutions to recognize the catalan republic. it will be fascinating to see how quickly the eu response to ie,s latest development, vonn in the saga that is almost four weeks old. the eu has failed to recognize the legitimacy of the goings-on's in catalonia.

the government of spain has been given the power to set in motion the process of essentially taking control of catalonia. vonnie: it is adjusting because puigdemont had postponed declaring a republican the referendum of october 1, really just 27 days ago now -- three or four weeks given the power to set in ago. two do that was, sort of, to give spain, the madrid parliament a way to committee, approach this differently, however the madrid parliament took a hard line and basically said it was not going to recognize any kind of secessionist moves were separatist government, and was threatening to take away powers from catalonia. i fear we might begin for in a -- escalation can we are seeing spanish 10-year bonds rise. mark: that is the key, isn't it, and maria and charles, our --it iss stated as much how spain seizes control of catalonia that is the most

important point here. theever what happened after sunday, where it was viewed domestically and internationally -- thee reproach approach of the spanish government was maybe a little too hard. joy, how the spanish state goes about getting control of catalonia will be the next part of the saga between the state and catalonia. vonnie: we're going to continue following the spirit the story is absolutely developing with. we will also be revisiting the story that three people who are familiar with saint jerome powell will be nominated the next fed chair. this is bloomberg. ♪

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all in one plan for a low, or even no, monthly premium. so call now.lan for a low, or even no, monthly premium. so call now. we can answer your questions, even help you enroll. i deserve to get the most out of my plan. we'll make sure your doctors are all connected, you know what your copays are... and you can save on prescriptions; plan members saved an average of over 5000 dollars last year. medicare open enrollment ends december 7th. if you're done with complicated, if you're doso done... complicated, so done... call now to enroll in a plan from unitedhealthcare, like aarp medicarecomplete. [sfx: mnemonic] vonnie: live from bloomberg world headquarters in new york and london, i am vonnie quinn. mark: and i am mark barton.

this is bloomberg markets. let's check in on first-word news. taylor riggs has more from new york. taylor riggs: catalonia votedtao form their own country. meanwhile, the spanish senate has given prime minister mariano rajoy the authority to oust the catalan administration. rajoy is saying he will not allow anyone to abuse the constitution, and that the catalan vote was a critical -- criminal act. the u.s. economy grew faster than forecast in the third. -- quarter. that comes after a 3.1% growth rate in the second quarter. together, they're the best back to backorder since 2014. consumer spending was stronger than expected. meanwhile, the government says it cannot estimate the two hurricane's impact on gdp. president trump is leaning toward naming jerome powell to

be the next chairman of the fed according to people familiar with the matter. is it decision is not yet final, and the president could change -- they say the decision is not yet final and the president could change his mind at any time. he is considered one of the front-runners. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. vonnie: thank you. skidmore on the fed chair race -- let's get more on the fed chair race as we hear the news president trump is leaning toward jerome powell. michael mckee is back with us. in that case, were the president, before november pick --hree to say i november 3 two say i picking jerome powell, could john taylor have more impact as vice chair? michael: in the long run, no, but in the short term, yes, steering them toward less

regulation. he could talk about those things as vice chair. because powell is not an economist, taylor would have a more prominent voice. the interesting question is how much would he go off the reservation and deviate from what the rest of the fomc is thinking or what the chair is thinking? we have a decision of the vice chair never dissenting and never really speaking out of turn, but taylor has different views on where policy should be and how the fed would conduct it. mark: i know powell is a republican, but he was appointed to the board by obama. how palatable is he too conservative republicans? michael: the very right wing does not like him partly because of obama, but that was a package ontoto get jeremy stein the board. he had to put in a republican to get public and avoids -- votes. he was not really a democrat appointee. they would rather see someone in morer's mold who was much

deregulatory, someone who wants to scale back the fed's involvement in the economy, and powell, of course, voted with the chair, with the fed in a lot of what they have done over the last couple of years, including qe. vonnie: -- mark: mike, you -- do you remember another period like it was going to be appointed -- every bit of news moves the market. think back through history through your time and maybe before, you remember any other period like this leading up to a new nomination? michael: there has never been anything like this. the closest you could come would be four years ago when barack obama was choosing between janet yellen and larry summers, that that was about personalities, and it was not an up or down things every other day. he made his decision relatively quickly once it became clear ben bernanke wasn't coming back.

his is more like a tv reality pointed out,person and the person making the choice has a history of that. vonnie: he has a law degree, has worked at the bipartisan policy center, at the carlyle group and has a close relationship with steven mnuchin. how closely would he listen to someone like steven mnuchin who is a treasury secretary, were he to be the fed chair? michael: it is itching to see how the fed reacts if you get tax cuts in place that speed up the economy. you would expect inflation to start rising and the fed to lean against that. "politico"ly, in a article whether said powell was the favorite at the time, they said steve mnuchin believes he can control powell. what does that mean? powell would probably push back hard against that characterization, but if the administration is making its

decision based on who would be more amenable to keeping rates low if the economy starts to overheat, that is an interesting reason to choose powell if that is what they are thinking. vonnie: and he has also worked at the treasury himself. he had senior roles under george h.w. bush. michael mckee, will continue to follow this story. michael mckee, our international policy and economics correspondent. vonnie: all right, in other news -- apple -- let's turn to tech. shares of apple are higher after the company began accepting free orders for its iphone 10. initial supplies for delivering next week sold out in minutes in several countries with weight times climbing is hot -- wait times climb in its highest six weeks in united states. join us to discuss the importance of the new iphone 4 apple an initial data on preorders is john butler. there was trepidation that those minutes after midnight, or those minutes after 5:00 or six clock in the morning would not see

those orders rolled in, but they appear to be rolling in. good news forhe apple is the demand is clearly strong for the iphone x, and honestly, leading up to this, there was a question mark, because the iphone 8 has not been selling well. as we have seen with the recent prior refresh cycles, they have not always lived up to original expectations. people were holding their breath in this launch and it looks good so far. john, give us times here -- if you ordered one today, how long will it take to arrive? what sort of production delays are we looking at here? john: on the website now it is five to six weeks, which is a really healthy wait. apple, if you look at what they are likely to ship during the holiday quarter, they will probably have 25 million to 30 million units they can ship it if you look at last

expectations, they are very telling. you see a lot of the revenue growth expectations now are pushed into the march and june quarters for apple, and that reflects the delays we are talking about. vonnie: the stock up about 2% today on this news. killing people are released. is apple not -- clearly people are relieved. is apple not good at predicting at what they need, or is this the online equivalent of what we used to see outside the stores -- long lines, and people waiting in anticipation for this amazing phone? john: i think it is that it it is a digital line, if you will, for the iphone x. one thing to keep in mind is this really is the first time apple has launched two phones. they launched the iphone 8 several weeks ago, and now they are following up with the x. it is the first time we are going through this unique situation. as i look at these numbers, i have that in the back of my head, and how it may push around supply a little bit. vonnie: john butler, think of.

john butler is senior tokenization mitigations analyst for bloomberg intelligence. mark, breaking his own oil, i gather. toppedrent crude has $60, the first time that has happened since july, 2015. saudi arabia's crown prince yesterday backing the extension of opec-led output cuts. that helped push it over the top. he said yesterday of course he wants to prolong the curves of march, 2018. opec considering its strategy to flood the market once the agreement expires. that is according to people familiar with the situation. not separately, but intellect, the ceo of -- said the imbalance is dissipating. aent crude is above $60 barrel for the first time since july, 2015. let's moving on. coming up we will hear from expedia's chief executive, mark broke her sternum. mark walkering --

strum this is bloomberg. ♪ .

vonnie: live from new york, i am vonnie quinn. mark: and live from london, i am mark barton. this is bloomberg markets on bloomberg television. let's chat about travel -- shares of expedia sinking to the company's results were hurt by a series of hurricanes. bloomberg tech anchor emily chang is in san francisco. emily. emily: thank you, mark. expedia ceo mark okerstrom is joining us. a lot of this has to do with the cirque -- circumstance --

hurricanes. how much of it has to do with the weather and problems in the core business? mark okerstrom: i was a short-term results are all about the weather. in the quarter, 15 million to $20 million of impact from the storms. we expect another $10 million the next quarter. we are investing into strength. we have, over the course of the last, really, three years, tripled our ability to add new properties, bringing new properties onto the last four. that is strength we really want to invest into. we have taken home away from an online listings business into a real e-commerce business. we are investing into that strength as well. the reaction is a combination of for towo, and we look demonstrating solid results in the back of the investments we announced yesterday. emily: if we continue to see adverse weather patterns due to climate change in the u.s. and worldwide, should the market reevaluate expedia and the travel industry as a whole? mark o.: well, i think is a

little -- it is a little too early to do that. years.been expedia 11 anytime we see natural disasters such as volcanoes over iceland, hurricanes or storms in the u.s. -- what it does generally is there is certainly an impact in the near term for that destination, but generally travel patterns change. the essence of the industry is humans like to get out and explore the world. these storms the press activity for a short-term, but you cannot stop -- depressed activity for a short-term, but you cannot stop you from wanting to travel. eric: he said -- you said tree votto, -- emily: you said your comparison site is not living up to expectations. rivago is one of the most well-known names and travel. they have a management team that has built this from nothing into

a significant business. it is an advertising platform that advertisers love to be part of, including our brands, hotels, and competitors. what is happening, though, is is changing the winter marketplace works, and any time you have changes like that, it can cause volatility. advertisers are trying to test what is it that makes the channel most attractive for them. trivago is testing how do they make the market place more attractive for advertisers, try better?ize it even that is causing volatility. we are confident, given this is a great business love m consumers, advertisersb -- loved by consumers, advertisers, things will normalize and trivago be back on track. emily: the u.k. launched a probe into hotel booking sites including expedia, including trivago. how much of a concern is this? what is your response. this is about marketing tactics action what they are calling --

tactics, how they are applied. mark o.: we are a leader in this industry and we have been helping the u.k. look into this matter. without getting into the details , i think we, again, the forefront of this industry, are open to looking at all the practices, and making sure that consumers are being treated right. of course, that is our primary concern, and that is what we strive to do. given that, i think anything will be absolutely fine. we're working with the u.k. on this. this is not them examining us. emily: in terms of international expansion, which markets are you most focused on in terms of the heaviest ad spend? mark o.: well, the world is our oyster is what i would say. it is a one point treated -- $1.3 trillion industry. we are number one in the u.s., that is to be sure, but if you look around the world, we are not number one in many countries. our focus will be to establish that position.

the mantra around expedia is locally relevant on a global basis. we are looking at countries in europe, asia, latin america, and saying what are the most attractive companies we can go -- countries we can go after to establish a number one position for the local consumer. emily: you were a cfo for many years -- became ceo. it seems like a natural fit -- some sort of partnership between expedia and uber? have you had discussions to that effect yet? mark o.: nothing tangible yet. we are missing of how to get a hold of each other. i think there is a possibility of something great, and i look for to talking about it in the future, and hopefully in the near future. emily: when it comes to growth, you said the focus is organic growth, not m and a, which is very much a focus under dara

khosrowshahi. he said it is on the let's have a beer and talk about it list. how long is the list? mark o.: it is on our shortlist. we will continues look for acquisitions when they make sense, but the essence of the assembled an have incredible portfolio of assets, and we are a leader in this industry, and the foundation is said. now it is about is becoming more locally relevant on a global basis, the more customer-centric, and executing faster. when we do that, we will execute to our full potential in this massive industry. m and a will be part of it, but i think we have what we need to be successful, and very successful going forward. vonnie: investors seem to be -- emily: investors seem to be concerned, mark. h-shares. more than 17%. how concerning is that for you, and what kind of message do you have for them today?

mark o.: it is certainly a concern, but i would say it is a short-term concern. we are incredibly confident about the future ahead. we have articulated a couple of focus areas going forward. again, being locally relevant on a global basis, really focusing on the customer, and executing faster. those three themes paint the picture animated groundwork for an incredible growth story ahead . we are essentially accelerating our trajectory over the course of the next number of years by focusing on those three things. i look forward to delivering on great results by focusing on those things. our team is incredibly energized about it. we are investing into things that we know work -- things like home away, things like acquiring new hotel properties. these are things that are proven winners, and i think, really, the stock price reaction is a short-term thing, and again, we are incredibly optimistic for right,d ahead emily: all

mark okerstrom, of expedia. q for join us. mark barton, i will send it back to you -- thank you for joining us. mark barton, i will send it back to you. mark: outstanding conversation. thank you. vonnie: it is time for our stock of the hour, it was there with technology -- amazon shares jumped after margins expanded. report sincerst closing on the acquisition of whole foods, which turned out to be important. joining us now is taylor riggs. taylor: a lot to get to. -- revenue growth driving shares up 11%. some analysts are saying it feels like an elephant in the room growing at a cheetah-like pace. it is phenomenal. if you go down the income statement, you added $.52 a share -- a record beat over analyst estimates of 1300%. you also mentioned whole foods. we have known amazon to be a disruptive.

they have been a disruptive in the grocery space. shows amazon's outperformance relative to other grocery stores. what is critical is not only can they make the whole foods transition smooth, they maintain their dominance in the court e-commerce business. we spoke with an analyst this morning and said -- he said that stores in the u.s. are still closing at 65 to 100, year to date, faster than 2008. vonnie: taylor riggs, thank you, taylor riggs with our stock of the hour. breaking apple news. mark: apple says demand is off .he charts for the iphone x just crossing the bloomberg terminal. apple says it will keep accepting orders online. once ordersday is were able to be implemented today, there have been reports production delays --

delays, but apple says customer demand for the iphone x is off the charts on the day that one is able to order the iphone x. apple shares are rising today, up by 2.2%. still ahead, brent crude prices climbing to $60 a barrel. big oil earnings. more on oil. that is next. this is bloomberg. ♪

vonnie: live from new york and london, i am vonnie quinn. mark: i am mark barton. this is bloomberg markets on bloomberg television. let's get to oil. big oil in the news in the u.s. can we had earnings from exxon me, let's getcuse to it. will kennedy is here. brent crude above $60 a barrel. how much is that to us speaking to the crown prince? will kennedy: a little bit. there has been a lot of opec news this week. what has emerged clearly is they

will extend production cuts until the end of next year, and the other bit of news was they will probably maintain some sort of quota system and have a slow tapering away from those cuts, avoiding the cliff edge at the beginning of 2019, and that has short of what was already quite a recovering oil market, and today we had the first -- the biggest tysons 2015. -- biggest high since 2015. mark: let's focus those on -- on those on the side of the pond. will: strong earnings of 30% from a year ago. reflecting a combination of the price, their war on cost and capital spending, and that is starting to feed through on cash flow. vonnie: let me ask you about exxon. this side of the pond -- the cash hoard is staying flat even as oil prices are rising. what does the future hold for exxon's shareholders?

will: there are lots of questions for exxon about what they do in terms of m and a, and there was his appointment today that the production was not as strong as they had hoped, but i don't think that should retract from recovery in the earnings. at exxon, it was 50%. a strong quarter compared what we have seen the last couple of years. the real story here, apart from oil prices, the recovery in demand. oil demand globally is incredibly strong. that is feeding through into demand for gasoline, diesel, keeping exxon's refineries at full pelt. there is a demand story here. taking the together, you are seen a recovery. vonnie: perfect timing for having you here -- we just got a has posted a pemex third-quarter loss of $5.3 billion. so, not all oil companies equal

today. mark: thanks, will kennedy. thanks for joining us. good round up -- giving us a good run of oil events today. coming up, it is the close -- the european close. we're following stocks, less than 35 minutes away from the end of the friday session. the stoxx 600 is up by .5%. check out the euro -- down a couple of percent, the most since december. further news out of catalonia. the saga escalating, which will focus on the top of the next hour. i will leave you with the bond yields. a mixed bag today. the closes next. -- the close is next. this is bloomberg. ♪

york, 11:00 p.m. in hong kong. 30 minutes left in the trading day. i am mark barton. vonnie: i'm vonnie quinn. this is the european close on

"bloomberg markets." ♪ mark: here are the top stories we are covering on the bloomberg and around the world. barcelonatuation in is the catalog parliament votes declaration of independence and spain invokes a plan to take control. all the market moves. banking ubs liens and its wealth management expertise to post a better quarter. bank is staying ahead of the curve. the ecb has spoken with the boe and the fed next week. we look at whether any of the central banks are in for a major surprise. where european equities are trading right now under 30