Volatility index, the visx. A developing story in ottawa, canada, where parliament has been locked down after a soldier has been shot nearby at the. Ations war memorial one soldier and one shooting suspect are dead. Bloombergs Ottawa Bureau chief joins me on the phone with the. Atest on what is a very sleepy government town. Ottawa is a very sleepy government town. The Downtown Core is totally locked down. You have police with Automated Machine guns taking position everywhere. Withinre shootings parliament, not just at the war memorial. War memorial is about a couple hundred meters away from Parliament Hill. Gunman shot down one of the soldiers, more ceremonial type soldier. There were two soldiers in front of the war memorial. One of them was shot and killed. There was also an incident in the parliament. We are not sure it is the same kind man who just walked up to parliament and got into the building. Was right in the vicinity of where the government caucus was meeting with the Prime Minister not clear he was actually in the room. With his rifle, essentially was shot dead there after entering the building. The city is in shock. Talk to us there have been incidents because there was a shooting just a couple of days ago, the murder of a soldier by a man who Authorities Say was radicalized. That has raised the specter of terrorism fears throughout canada. It wasnt actually a shooting. Soldier was run down by a car, so this individual essentially rammed into a soldier with their car and was shot dead after a car chase to that was outside of montreal. Level, where no one believed Something Like this could happen in the heart of the nations capital. Would literally one man walking into Congress Beatty equivalent of a gunman walking into congress with a rifle. Politicalas also components of this as well because earlier this month we heard the Prime MinisterStephen Harper had authorized air strikes against Islamic State militants and those strikes to go on for about half a year, six months at least. Contribute toto the airstrikes in iraq against the Islamic State. That have been warnings canada could be under threat. Ones just that i guess no never happened before in canada. There no jihadist have been some threats that have been thwarted in the past, but nothing like this has ever happened in canada. People are just in disbelief. Theo argitis, thank you. Were standing by for press conference by the Royal Canadian mountain police. That is scheduled to get underway this hour in ottawa. We will bring you headlines from the press conference as soon as we get them. The bank of Canada Governor postponed a press conference that was planned for 11 15 this morning in ottawa to discuss the banks rate announcement and Monetary Policy report. Lets get to the other top stories we are following on this wednesday. Johnson johnson will start safety testing on a vaccine combination that could protect people from ebola. Millions ofitted dollars to speed up and expand production of a Vaccine Program being developed by pharmaceutical companies. Inwe are working hard response to a global crisis, and afterwards we will see if the vaccine becomes the global use vaccine. We will see how it goes on. The first thing now is being as fast as possible to help the world get in control of the disease at the first and foremost objective. The company is developing a vaccine with the danish biotech company. Prices showed just a slight increase for september. The overall gain was held back by the Third Straight monthly decline in gas prices. Over the past 12 months overall prices were up 12. 7 . Increasehe size of the that americans on Social Security will see in the Monthly Payments next year. Another record for Holiday Season deliveries. Deliveries between thanks giving and chris as he will rise 8. 8 over last year to 290 million shipments, a more subdued were cast than a year ago, when fedex predicted 13 growth for the season. Fedex plans to add 15,000 Seasonal Workers to carry the load this year. To says it will add up 95,000 people, and amazon said it will higher 80,000. That is a 14 jump over last year. The 4 looking to double billion in revenue it made from womens apparel. In fact it just said the unit reaching 7 billion by 2017. The company is looking for ways to compete not with ideas not with adidas or under armour but lululemon. Stephanie ruhle had an exclusive interview with the nike ceo. Women athletes have always been important to nike. What is happening now is sport and fitness is becoming more a part of everyday lifestyle that it is really permeating every aspect of culture and society. This isnt a trend, it is a movement. It is a cultural shift, really, in a way. How theis a look at shares are trading could have presentost 1 3 of her of a percent. Standard poors released a report on the impact of the ebola virus on u. S. Health care providers. Director at s p is the primary credit analyst of the reporting could he joins me now from his offices in new york. Welcome to bottom line. Thank you for having me. Your reports is the current progression of ebola could take one of at least two tracks. The first is that the disease takes a modest course and that is what it seems to be doing so far. The number of cases is fairly small. The reaction is fairly significant. If the number of cases increases substantially, i dont think we have evidence that that has happened or is going to happen just yet. But we are aware that that is a possibility. What are the likely cost pressures of people on Health Care Providers and how might it affect credit quality . In the first case where the number of cases remains fairly small, every provider in the country has to be ready if a patient that is suspected of having ebola terms of their facility. In order to do that, then he proper materials, protective they need proper materials, protective gears, proper Hazardous Waste disposal, they need to train staff, there is a lot going on right now about training staff. They need to make sure they have the proper isolation rooms. There is a lot of fundamental readiness that has to happen, and it will cost funding. Martin, how our medical facilities affected . The likelihood that if you treat someone with ebola, people will refuse to go to the hospital for treatment . I think unfortunately that is a possibility. I think it is a reasonable fear that people dont want to be exposed to this disease. However, i think it is also clear that it is not easily people have to make decisions about this for themselves. We are aware that it is a possibility. Im speaking with the managing director of the Health Care Group at s p. As you well know, there is a legal component to this as well. D yes in the united if eaths in the United States were to increase, would we see an increase in malpractice lawsuits . That is a possibility. I will just leave it there, it is possible. You just spoke about cost hospital beds, protective gear, theyll cost money. In terms of ebola you were talking about Hazardous Waste disposal. They have to be gotten rid of, burnett incinerated. Who pays for this, the federal government, hospitals . At this point it is clear that this is a cost that will be borne by local providers. I would point out that the local it is one more item and a budgeted item at that. The disease has to be much more widespread, isis the i suspect people would like to state and government to help support that. But at this point it is a local Organization Cost the they have to bear. Managing director of the Health Care Group at s p about ebolas impact on health care. Thank you so much. We appreciate it. At Top Story Police in canada are searching for at least two people after a gunman and soldier were killed in ottawa, the nations capital. Were standing by for a press conference that is scheduled to be held by the Royal Canadian mounted police in ottawa, and of course, Bloomberg Television will give you headlines for the press conference as soon as he gets underway. In the meantime, chinas economic reform plans. A report takes a closer look at those plans and assesses the impact it is having on chinas economy. We have breaking news. You are looking at a live picture from ottawa, canada. The well Canadian Mounted Police holding a news briefing on the shooting. At least two people killed, one of them Police Describe as the gunman, another a soldier stationed nearby at the war memorial. Fluid the they situation today is fluid and remains ongoing. Please be mindful that due to an ongoing situation investigation, there are many answers we will not be able to answer at this time. I first would like to acknowledge the presence of Ottawa Police chief. To his right, the commanding officer, assistant commissioner. To his right, Deputy Commander of joint operations command. Finally, to my far right, mayor of ottawa jim watson. In terms of proceeding with the press conference, we will first have a statement by the Ottawa Police chief. Good afternoon. At 9 52 a. M. This morning, the Ottawa Police there is received multiple line Police Service received multiple 911 calls regarding the shooting at the war memorial. The victim is a member of the Canadian Armed forces. His injuries were fatal. Our thoughts and prayers are living with the member, his loved ones, and other members of the forces. His identity and age will be confirmed at this time as we are in the process of contacting his family. We are following another incident on Parliament Hill. What i can tell you is that the male suspect is now deceased allther with rcmp, available resources have been deployed to this Ongoing Police operation. Our priority is the safety and security of our community. Additional resources are on standby should they be required. All measures have been taken to ensure the safety and security of our residents. We are very aware of the large presence of military personnel in our community, and want them to know that we are committed to their safety. As i said, this is an ongoing operation. We are asking numbers of the public to stay away from the downtown poor. People in the Downtown Core are asked to follow instructions of the building management. The Ottawa Police service is witnesses to come forward with information. Witnesses can contact the major 2361222,tion at 613 extension 5493. We continue to communicate and work actively with our partners, including those in neighboring jurisdictions. French]g that is the Ottawa Police chief. He is speaking at a press conference in ottawa following the deadly shooting this morning. A shooting suspect, according to the chief, is dead. So is the soldiers stationed at canadas nearby war memorial. Members of the public are being asked to stay away from the downtown area. The situation still is fluid. Theres a lot that police and authorities there do not know yet. They are trying to assess whether or not there are other shooting suspects who are still in the downtown area. That chief is obviously getting some of his responses in french for the frenchspeaking residents of the nation of canada. We are going to continue to follow this story and we will bring you more details as soon as we get them. Lets try to listen in and see if there is anymore that she has to the chief has to add. French]king the Ottawa Police chief speaking at a press conference today. Are said to be searching for at least two people after a gun man and soldier were killed in canadas capital. That attack came two days after the murder of a soldier who was struck and killed by a vehicle by a man police are calling a radicalized person near montreal. That raised concerns of terrorism nationwide in canada. Lets go back to the press conference. We are committed to providing some answers as soon as we are able. What i can tell you right now is all necessary resources were activated and deployed immediately when we became aware of the incident. They will continue to be here as long as they are needed. The Ottawa Police service is leading the investigation for the incidents. These are situations that we as Police Officers trained for. We train our own members, and we train with other police agencies. We cannot scenario we conduct scenariobased training including on what we have seen in ottawa today. It is important for all canadians to be vigilant and report anything they think is suspicious to their local police certainly followed up on. We are continually assessing and monitoring the situation as we move toward, and sharing information with Law Enforcement and the Security Community in order to ensure we have what is necessary to do our jobs keeping canadians safe. [speaking french] you are watching a Live Press Conference in ottawa on the shooting today near the Parliament Building in the nations capital. Bloomberg television will continue to monitor this News Conference and is as we get more details, we will bring them to you. Last november the Chinese Government announced lance for a comprehensive economic reform program. Today Asian Society released a report assessing the progress of those reforms. Josette sheeran is the president and ceo of asia society and joins me now. How would asia society describe the current economic condition in china . First, lets say our thoughts are with our friends in canada. Absolutely. They stick with the u. S. Through thick and thin and our thoughts are with them now. The congress of china came forward with 60 major decisions on the economy, and 340 subdivisions, and the questions we asked is are these real, are they the right diagnostics for the chinese economy, and is it a plan of action that can get chinas growth at a steady pace and bring not only a soft landing pressure china into being an advanced economy . We have spent the past 8, 9 months analyzing every aspect of those decisions across nine dollars, and our provision is that this is a big bang reform. If you wanted a prescription for taking chinas economy and making it advanced by 2020, this is the plan of action, and they are pursuing it with urgency and purpose in the initial implementation. The reforms were announced last november, last fall. Which ones have been the most successful, and has the Global Economy been a beneficiary of the success . First of all, it is critical the Global Economy. When china open to the world in the 1970s, is about 13. 5 . It is on track with these reforms to be about 25 of the Global Economy. These are the initial stages of the unveiling. We are seeing some interesting things. And a lot of them are trying to be responsive to the consumer in china, the public is demanding Higher Standards of in the environment and health care. For example, thousands of companies that produce emissions have to be tracked online every day, their admissions from their factories, and this is all transparent now. If they violate the cap on the missions they can have from these factors, there is a separate court for this. This is new to have this kind of transparent monitoring of companies keeping pace with regulations. I must apologize. We had to truncate the interview. I have to ask you in our last 30 seconds come is china ready to hit our mark hit that mark . Our assessment is that they are headed in that direction and they are on track to do so. We feel these are real and that the world should wake up to the opportunities and hook up to the china grentech because we think it is going to come after a few years of really getting these things lined up and moving along. We have to have you back because this is obviously a much more complicated issue that 2. 5 or three minutes but i thank you for your time. Thank you. Thank you for coming on today. 26 minutes past the hour. Bloomberg television is on the markets. As we hit the lunch break, the midpoint of the trading session, stocks are at the lowest point of the afternoon session. The s p 500 is reversing the mornings games. We did see some gains earlier this morning but snapping four days of advances. We will call this utilities and consumer staples. Those are gaining despite the eight the other 87 segments within those sectors are losing. Check out the bix. After surging to a 28month high last week, it is hovering around 17. He has fallen at least eight day andday a point a that means investors are getting less concern. The first time that has ever happened in history. Now we are seeing call it a daily gain of two. 210 . Welcome back to the second halfhour of bottom line on Bloomberg Television. I am Mark Crumpton in new york. Lets go back to ottawa, canada. Police are taking questions on those deadly shootings at the Parliament Building and nearby at the war memorial. French]king french]king of course, alerting our viewers that some of the responses, questions and the ench. Rs, are in fr let me tell you what we do know right now. Police are said to be searching for at least two other people after the gun man and soldier were killed in ottawa. That attack came just two days after the murder of a soldier by a man described by authorities in there as radicalized. The accident happened near canada near montreal, excuse me and it raised concerns about terrorism nationwide. Downtown ottawa, according to authorities, remains in lockdown , as Police Investigate what they are calling multiple suspects. They say that a member of the Canadian Forces shot at the nations war memorial and did die of injuries and Security Officials kill the gun man inside the Parliament Building. Witnesses are saying that the man with a brown coat was seen shortly between 10 00 a. M. Local time at the war memorial carrying a rifle. Authorities are going over the chronology of todays shooting in ottawa. Lets listen in. Not in a position to confirm the timing or that is still under investigation. Weapon . Not going to comment at this point. Sir, over there, in the blue. [speaking french] [speaking french] over there, please. Incidenty that the took you by surprise. [indiscernible] be a this time that would conclusion too early to draw. Could you clarify [indiscernible] basically, it is our responsibility to protect the public and if we hadnt known this was coming we would have been able to disrupted if we had known this was coming we would have been able to disrupt it. [indiscernible] no, not at this time. Raisedthe threat level on parliament were was Parliament Still at a normal level of security . The threat level on Parliament Hill, weve been operating at the medium level for the past number of years, and that is the level we are operating at right now. Sir, over there, please. [indiscernible] again, that is too soon to be able to comment on. We need to be able to look at the information we have in order to determine that. Informatione the that we will be able to share a later date. Earlier what type of plants did you have in place in case this was going to happen . Basically, what were doing right now to evacuate a building, where potentially there is a threat that exists, that is what we are trained for. [indiscernible] pardon me . Can you tell us if the suspect was a canadian citizen . No, i cant comment on that at this time. Why did you put out an advisory to say that someone could be armed and dangerous in the community . Is that not the reality, that there is still a good man that is loose gunman that is loose . What we have advice is for the public to stay way from the Downtown Core. There is an ongoing operation with Ottawa Police service to clear Parliament Hill and make sure that is safe for everybody. Yorkie focus is Parliament Hill your key focus is Parliament Hill, is that correct . That is correct. Was this a random shooter or did you have a sense that he had a target in mind, senior government officials, the Prime Minister . Was it your oppression impression that this guy was seeking rent apartments or did he have a target in mind random targets or did he have a target in mind . Again, way too early. Last person, behind the camera. [speaking french] [speaking french] thank you very much. This concludes the press conference. You have been listening at various points to responses in english and french at that press conference in ottawa, canada. Authorities there are searching for at least two people after a gun man and a soldier were killed in ottawa, canadas capital today. That shooting taking place around 10 00 a. M. Local time. We will continue to follow this story and bring you more developments as soon as we get them. Theo argitis, bureau chief in ottawa, i believe we have him on the phone. Do we have theo . We are working on him. We will try to get him on the phone right now. He joined us earlier today after we had the breaking news that shots were fired at canadas war memorial. According to our bloomberg story, that man with the brown coat was seen shortly before 10 00 this morning. They say he was at the war memorial carrying a rifle. You are looking at some video that appears to have been taken on a cell phone of the scramble inside the Parliament Building in ottawa after the shots rang out. I understand that our ottawa tis is chief theo argi back on the phone could what can you tell us about the search for those other two suspected gunmen . The local city police and the National Police just gave a press conference where essentially they confirmed that , one aple are dead soldier, the other the gun man. So confirmed that there were two incidents, one at the memorial to one within Parliament Still not clear whether there was one gun man. They wouldnt comment on that. Earlier today please were saying that there were multiple suspects now. They are declining to comment on that, only saying that people should be vigilant. But they might be playing down the idea that there might be multiple suspects. T is something they are just not willing to comment on, even the earlier they were commenting on the possibility of there being multiple. Argitis joining us on the phone from ottawa. Bottom line will continue in just a moment. , chairmanorrentino and ceo of connectone bancorp, joins the in studio. Good to see you, mark. Thank you for your patience. Tragic day today. One of the areas discussed at the convention was regulatory oversight. You and i have talked about that many times in the past. What concerns to your colleagues express about further legislative reform, and is this keeping Community Banks particularly at a competitive the spanish . Competitive disadvantage . The largest thing talked about at this convention was the onslaught of regulatory oversight. The abase solution looking for is tailored regulation. We have backs of all different sizes, not just size in dollar ze in, but si complexity. They are more based on risk than on arbitrary numbers, whether it is a 20 billion marshall, 50 billion threshold. We are asking regulators and legislators to rethink those things as they consider changes we might want to put forth in the doddfrank legislation that was passed four years ago. You have been upfront about the threat of Cyber Security. You told colleagues that that is probably the main thing that keeps you awake at night. Should it be up to individual institutions to have a plan in place in case this happens, or should the threat men in and enforced by the federal government to be implemented and enforced by the federal government since a summer saying that the Cyber Security threat to the Banking Industry is a National Security issue . Yes. We would like the federal government and all the agencies of government to have knowledge of the Cyber Security space to partner with the Financial Institutions and provide support. If we all Work Together we can minimize the risks to the system but partner with yeah, i dont think he can be just someone elses responsibility. We do need to have a plan and we do need to be prepared and it is no longer a question of if, is a question of when and how deep. Planning is incredibly important. Much of the fed talk is when policy makers will raise Interest Rates. Are you among those who believe that the rate increase will happen next year . Mark, i dont see any rationale for raising Interest Rates at this moment. In issues andwash problems that are coming back to you in the form of earning capital to the u. S. And lowering Interest Rates. I dont see anything in the u. S. Economy that is pushing for our prodding us to raise rates any time soon. Are raised,tes what impact will that have on Community Bankers . Most would benefit i dont think that is going to happen. It would take money and capital out of the Banking System and i think it might actually hurt the small to mediumsized businesses that require the capital to run their businesses. I just dont think we have reached a critical velocity yet an economy where we need to start to pull back. The president of the new york fed, bill dudley, said that banks must take steps to fix the Corporate Culture that encourages misdeeds or face being broken up. We have talked about the term too big to fail because it is part of the public consciousness, but is this a case of what mr. Dudley called too big to manage . I was just what is a common today big to manage, too big to have oversight over, too big to understand. No one Management Team can truly understand all that is going on there, and we are starting to see signs that even they recognize that. The largest institutions are divesting themselves of large parts of their corporate empires. I think the message is loud and clear. I think the facts on the ground are telling the companies what they should do and the shareholders are speaking up. Community bank necessarily mean you have a more intimate knowledge of the needs of small businessmen and women, entrepreneurs . We think so. Her hometown banker, Community Bank or others from has a very they shop inledge, the same market and do all the same things that their clients do good i think the close associations bodes well for clients who need to rely on that. That has gone away. We are trying to through all of these different automated processes takeaway actual human interaction. I dont think that is a good thing. I think Community Bankers have a purpose to serve and they will continue to do so. Frank sorrentino, always good to see you. Thank you. Bottom line will continue in just a moment. For those interested in tracing who their great great great grandparents are, there is a site that will allow you to do this via dna. Tageeli startup my heri teamed up with googlebacked 23 and me. He began by discussing how this new collaboration can make a difference. We are really focused on reinventing the way families explore their family history. We want to give them a very easy, instant, and meaningful experience. We are working on this new experience that is about to launch. Users will be able to come in for free and just give us a bit of information and, lo and behold, we will unfold richness of information about photographs, people, the very latest they never knew about, and this gives them a friendly welcome into the amazing world of chemistry amazing world of family history. Geographicaleveal origins, unknown relatives of yours. Dna has limitations. It cannot tell you precisely how you are related. This is where myheritage comes in with family trees and historical records, and we have technology to make automatic discoveries. Together the users have the best chance of learning more about their family tree. Just under a year ago you were saying that the revenues were intensive millions of dollars. Are we over 100 million yet . Not just yet, but growth is very strong. We are focused on building a great business and we are so proud of touching the lives of millions of people in such a positive way. Last time that you were not ruling out an initial public offering. Are we closer to that kind of eventuality . Looks like were getting a bit closer. This year, next year will not this year, reasonably. Talk about it in our next interview. Tage ceo with bloombergs elliott gotkine. Stephanie ruhle sat down yesterday with billionaire activist investor carl icahn. You can see the entire interview that will air on 11 00 a. M. And 2 00 p. M. New york time on both saturday and sunday. Stay with us. Another check of Market Movers on the other side of the break. Get the latest headlines at the top of the hour on Bloomberg Radio and streaming on your tablet and bloomberg. Com. That does it for this edition of bottom line on Bloomberg Television. I am Mark Crumpton in new york. See you tomorrow. It is 56 past the hour which means Bloomberg Television is on the markets. Lets get you caught up on where the stocks are currently trading. Gains. Season morning we are reversing most of that. For the500 did rally record straight days. Four 10 of 1 right there. Almost half of the losses from a selloff that began in midseptember. Joins us with a look at what may have triggered essentially a rebound that we were seeing, although with the exception of what is happening in todays market last few days. We have kind of given back a little bit, but there is this adage that flows around the financial circles that once the general public not trying to sound elitist at all, when the general public starts picking up a stock market stories as long as it is on the front page. Than the stock market might have actually bottomed. How can we actually measure this . It is the 21st century, lets look at google trends. Lets see how many people are searching for the term stock market. There is a pretty strong correlation everyone is talking about stock market and when the market has bottomed out. S p 500, every time visiting google trend goes up to 100 lets see if we can get that up. A chart that shows exactly what is happening. Inverted. Ally that is the google trend. 100 is at the bottom. You can see it as a correlated get in the s p 500, which has triggered rallies this,interpret essentially people are stopping selling. They are looking to scoop up names . It could be that. Institutional players have moved in. Now joe q. Public is one step behind, probably late in why is it happening . It seems to be something that is repeated over and over and over again. I dont think there is a deterministic explanation it is really fascinating. What is overbought at the moment . With the pullback we saw in the rebound we have had, the most interesting one is dominos pizza. I love dominos pizza. I missed it so much in hong kong. Oh, my favorite. Why would you default to that . But apparently traitors like it. The overbought, oversold conditions of the stock. That is the most overbought in the past year. On the flip side, what is oversold at the moment . The biggest one is ibm, which kind of makes sense. Big blue had problems recently. Ship unit. Sted their an Urban Outfitters has had major problems. It could be too early as an indicator with sharp price movements, but in this case it seems to be appropriate. Maybe it is a chance to buy into the weakness. I wonder, when these names are on the page of these periodicals, there are certain names that get reactions. Everyone knows dominos, everyone knows ibm, everyone knows maybe Urban Outfitters. You might have given us an idea for another segment. ,veryone is talking apple, ibm the bluechip names that every investor knows are the ones that make headlines. All right, you got your homework. Make sure you report back. Stay around because right next,