max. that was it for me i mean ignore the fact that playing by the next weekend the big game is of course against barcelona but not just seems like a stay of execution bosler at the camp nou i mean come on yeah i mean i think like like he said it's mostly about the attitude i mentioned the defense earlier on before we heard from him there and i think that's really the issue they have to start those games barcelona and against berlin in the right way and what i mean there is not conceding the goals they've done that 6 times this season in the bundesliga alone and look at the teams they've done it against i mean outspoken the 1st minute braman in the 7th minute part of born on friday in the 5th minute it's all well and good saying no against interim possible and you know they turned around at half time i don't really think that's fall for giving a rousing speech in the dressing room is not that type of manager i think i think it's just not awake those not that intensity that they need to hav

max: if you look across the asset classes, volatilities across fx, rates, high yield, credit, equities, government bonds, they are all below the five-year average. that tells you something is not quite right, and there's too much calm in the market. multi-assetk at the allocation at the moment, we are tactically underweight in global equities, fairly cautious, underweight high-yield, overweight bonds, so that naturally tells you you kind of want to have some volatility exposure. i would certainly be most concerned on the high-yield and on the dollar high-yield. seen is sort of a bit of a sideline, not really following the risk-on move that much in equities. it does seem like there is a bit concern spreading already in the high-yield space. manus: max, stay with us. we have a little bit more to get through. max. china is compromised. trade talks continue. beijing says it will get tough with those who steal intellectual property. more on the story. that is next. ♪ manus: this is "bloomberg daybreak: europe." i am manus cranny in dubai. 10:23 a.m. in downtown dubai. juliette saly has th

your max cost is 3 bucks that's the underlying price for the next five weeks. break even down at 3.07 and you can make between 3.07 and 2.95 it corresponds with the up trend and the way i think about it, that's pretty cheap protection it's about 1% of the etf price for the next five weeks. if that headline today got you thinking about how do i protect the portfolio or things are too complacent, that's the way you do it. >> there's two things i would say about the trade. first of all, i think it obviously is a fairly attractive level to get in. we obviously are very close to the all-time highs right here. if you're coming in monday, thinking when do i want to hedge, from a tactical point of view, hedging should be tactical you're paying an insurance premium. much like you pay the insurance premium on your car, you're hoping it never pays off here you're kind of hoping it will not pay off how much will it pay you you're spending 1% if the market declines it can be as much as 5%. if you think about it this way, let's say we have a 7% decline by the end of december

max bane there we have a month we have the s&p petering here at all-time highs every new day. i think a combination of disappointing guyedens and pullback in the market you have the stock at 103. >> i was just going to say and big day today, green who was down wal-mart was down. amazon down. wal-mart put up a big number what you'd call a classic ke reversal flares up and closes on the low. that's a tell. >> target at two-year highs in valuation if it traded at mean valuation where would it trade about 100 that's interesting the put strike you chose something else interesting about the stroik if you look at the last 44 quarters where target reporting reported earnings and how it behave one month following the earnings result you would find out of 44 reported quarters it fell more than 10% only two times. 100 bucks is down 10% from where the stock closed today by selling that you mitigate the cost of putting on the traded carbably almost 30% of premium on the higher strike put but the likelihood it drops below that put you are selling very low if historical performance is any gu

warner media, hbo max, 15 bucks. what is the right price point? >> it depends what you are you've got a number of vashriabe here i think the consumer has spoken and they've said, look, this is what we want we want a lot of original programming. we want it on a non-commercial basis. we want to be able to binge and we want all of that at a fairly reasonable price a little more expensive if we get to share the subscription with a bunch of people and the only player that's so far hit that, all of those levers, i would say, is probably netflix. there's plenty of room, though, for multiple streaming services. they will each balance those variables differently, but we expect apple to be transformative it doesn't just enter a sector to be an also-ran with a handful of programs where some might hit, many won't. it's got to have a bigger play here and they really haven't shown their hand as to what that might be my own view is, the thing here that needs to be solved is ease and simplicity for the consumer. you have netflix, you have hbo max, you have amazon

flights of the 737 max to resume in january. on today's watch list a report on small business optimism. >>> amazon is set to open a new grocery store separate from whole foods and amazon go chains. the store in los angeles is expected to open next year. amazon is not saying whether more will open elsewhere. earlier this year the "wall street journal" reported the company had leases for at least three locations. the new chain will reportedly not use amazon go's cashierless technology. >>> gen z may be the first generation to grow up with cell phones and laptops but that doesn't mean they'll be doing their holiday shopping solely online. a new report finds gen z is less likely than millenials in gen x to shop online, due in part to their lack of credit cards and funds but they also see shopping as a form of entertainment, and the mall as a place to hang out or grab food. marcus and laura, back to you. it's nice to see what's old has become new again. >> i was thinking the same thing. >> the mall experience. makes you feel young. >

that breaks even, 7 1/2, you makeup to 107 1/2 down to 100 max gains there. i like the risk/reward of this trade. we have the event, we have the month, the s&p teetering at all-time highs every new day combination of disappointing guidance, a little pull back of the market stock back at 102. >> i was going to say big day today, we all agree, green who was down walmart was down amazon was down. walmart put up a big number, what you call a classic key reversal date, flares up and closes on the low. that's a tell and i think it's going to happen here, too. >> target is at two-year highs it would be trading at $100, the put strike you chose here's what else is interesting about that strike. you if you take a look at the last quarter, how it behaved one month following that earnings result, you would find that out of 44 reported quarters, it fell more than 10% only two times, all right. so 100 bucks is down a little over 10% from where the stock closed today by selling that, you're mitigating the cost of putting on this trade fairly considerably almost 30% of the

verizon users can get it free for the first year apple tv plus is two bucks cheaper but with a lot less content at least so far. netflix has steadily been increasing and its most popular plan is $12.99 a month hbo max will also launch streaming services in coming months netflix still the clear leader netflix ceo has down played new competition from disney and other saying the real threat is linear tv. no doubt investors will be closely watching subscriber numbers as they make this big bet on streaming the shares have had a big run up 25%. >> here is the thing we've got the netflix competition. hbo max and others but disney also owns part of hulu, which is kind of a competitor but they also own it along with our parent company where does hulu fit into all of this >> is there is the monthly fees we just talked about then the whole ad model. in hulu, the majority subscribe to the market that don't have ads, about 70% this ad model is increasingly important. that is against other competitors in the space youtube fighting over digital ads. with he know that will be a focus of nbc streaming l

the buck stops with you. >> i would walk before i would get on a 737 max. >> i have a keen sense of responsibility. >> were any cdc employees ever told stop using that phrase, climate change? >> not to my knowledge, but we did discuss it. >> what are some of the most vulnerable areas here in the u.s.? >> florida. the entire southeast coast. >> now that you've scared the bejesus out of us. >>> as they bring the city their first world series, national fans were going crazy. >> the last time a world series was won here, cbs didn't exist yet. >> i want to go! ♪ >> gave me a very nice sticker. i'm going to put it on my desk. >> we were literally asking you, you still get up at -- >> 3:23 4. but i love it. >> you love getting up at 3:24? >> no, i'm saying i love the job. i don't love getting up at 3:24 at all. it's actually crappy. i could think of another word, but i won't. >> diplomatic of you. >> get ready for an extra hour of sleep sunday. >> yay! >> lady diana, who is the executive producer of this show, said when you're dealing with the oven, the oven doesn't change. >> yes. >> apparently, that'

the entire fleet of the 737 max, as you know, has been grounded for nearly nine months in the wake of the deadly lion air and indonesian air crashes. right now, shares up 18 bucks to $369. >>> up next, we are going to take you to the floor of the new york stock exchange on why a different dow stock is the true deal of the day. and just weeks after its introduction, the cutting edge apple card is under fire already. the new claims sweeping up both its creator and credit backer, and who is really to blame for what critics are calling a gender bias? that and much more coming up on "countdown." ♪ ♪ ♪ ♪ a former army medic, made of the we maflexibility to handle members like kate. whatever monday has in store and tackle four things at once. so when her car got hit, she didn't worry. she simply filed a claim on her usaa app and said... i got this. usaa insurance is made the way kate needs it - easy. she can even pick her payment plan so it's easy on her budget and her life. usaa. what you're made of, we're made for. usaa beyond the routine checkups. beyond the not-so-routine cases.

hbo max is going to be the most expensive. it will cost the same as hbo 15 bucks. >> netflix the standard price is 13. >> are you telling me, are there people who have historically have not subscribed to hbo but will >> it's the same amount if you have cable. >> same cost. >> to me, that's an interesting theoretical question if you didn't subscribe to hbo before, do you >> if your' an at&t customer i think you have a new interest in that because they're trying to bundle into the things that already serve you. the fundamental question is if you didn't already pay $15 for what you had on hbo, why would you pay it now because of all of this other stuff that's a marketing question. they have 170 million customer relationships. they're going to start putting them into the monthly bills when you get them, hey, sign up for hbo max, the first month is free, the first year is free, whatever it might be i think that will be -- that could make the difference. whether fundamentally as a consumer you want -- >> then there's a separate bran

federal inspectors intend to inspect and sign off on every 737 max before it returns to service. seems fair. the stock, though, down as you can see almost four bucks, down 1% at $369. >>> under armour getting an upgrade from raymond james. let's look at that stock in the premarket. up 3.5%. >>> deere gave a cautious outlook, citing trade. that was enough to pull it down 4.5% in premarket. $168 for deere. >>> let's take a look at the futures. as we said, the economic data just coming out looks pretty good, i'd say, but the dow flat on what would normally be a low volume day. the dow at this point just down four points. the s&p and nasdaq also just slightly higher. >>> protests in hong kong appear to be abating as a major tunnel connecting the city reopens after being shut down due to all the chaos. what i want to know is, when will president trump sign the pro-democracy hong kong bill and how is that going to impact trade talks? we will talk about that. >>> the world's richest person is no longer bill gates or jeff bezos. he's not even an american. that's your clue. we will tell y

the stock is up 7 bucks. let me show you now what i think is the video of the day, mini cheetah robots, by mit. look at this. they look like -- >> they roam. soccer, 20-pounds each. they say they are virtually indeductible. they're easy to repair. they're easy to modify if necessary. boston dynamics did something similar with the dog spot-like robots. they're looking to how to apply real life. the future is here. stuart: i want a couple. >> you could start a soccer team. >> you could. stuart: neil, take that. that is the end of the world. neil: that is the end. world. thank you very much. boeing says the expects 737 max to return to commercial partners in january. there is distinction whether they are ready to fly. that is up to the federal government, faa, you can send them to the customers, have at it. the customers want to get a clearance to fly them and whether they get clearance to fly them. that is enough to look at boeing's stock nine

jpmorgan, 150 bucks. i want to end on one little nugget, the fact that disney plus was launched to early adopters in netherlands. what they are watching are avengers and "star wars." those are the newer franchise, not time lis pixar things. that could be issue for north america. you're not attracting families and kids. that will be the bread and butter for disney plus when they launch. getting children, families that watch. obviously growth comes from there. stuart: take your word for it. i'm not sure what i'm talking about here. >> what do you mean you're not sure what you're talking about? stuart: content thing, marvel, "star wars," who it appeals to. >> appealing to a older crowd. that could be a concern they're trying to tap into the younger product with disney plus markets. think of all the movies. stuart: "star wars" appeals to people my age? >> older than young children out there. stuart: okay. nays save, susan. hold on. joel schulman i think is still with us. >> i'm still here. stuart: joel, you,