President obamas meeting at Andrews Air Force base by the by the Islamic State, and we begin with Olivia Sterns, as stocks rally for the first time in four days. Ia, good afternoon. Greg good afternoon. Equities are bouncing back after it the biggest selloff since 2011. And losses are now rebounding, and we are seeing gains in National Companies and airline stocks. Indexoomberg u. S. Airline is up significantly. There were fears that the spread of ebola would keep people from flying. The last sixer days, its worst slide since 2009. We are also seeing a big jump in smallcap stocks, and we gauge smallcap stock, and it peaked earlier this summer. And we are seeing a lot of action in the treasury markets, yields going lower, the twoin yield. Ook at this, dropping below the 10year note is down by five basis points, 2. 23 . We also got a lot of thirdquarter earnings reports today. What were the takeaways from the big banks . It is a mixed bag. Lets start with jpmorgan. Very good news for jamie dimon. He is in the black, thanks to rising revenue, but expenses continue to be a colquitt a culprit. It is about 1. 36 per share. As for citigroup, shares are higher today after the bank posted a profit that the analysts estimates. Net income rose 6. 6 in the Third Quarter to 3. 4 billion dollars or 1. 07 per share. By a rise ined bond trading. Also, plans to exit Consumer Banking in 11 markets. We also heard from wells fargo, shares a little lower. Even though the Bank Reported thirdquarter earnings that met lysts asked him its estimates, they were in line. Fell, andge Banking Lending margins narrowed. I will have another update in about 20 minutes. Thank you so much. Now, lets get you right to the top stories that we are following at this hour. The World Health Organization says west africa could see up to 10 thousand new ebola cases per week with in two months, and they also confirmed the death rate has risen to 70 . The who assistant director during gains the figures a News Conference in geneva. Previously, the who had estimated the ebola mortality rate was at about 50 . Meantime, a dallas nurse afected by ebola has received plasma transmission by a doctor who beat the virus. M was among those who care for thomas duncan, according to medical workers. The nurse was in the room of the library and man often from the day he was placed under intensive care to the day before he died last week. The German Government has cut its growth forecast for this issuesd next, blaming abroad, while arguing that the domestic economy remains strong. Next is at 1. 3 . Earlier, at standard poors, they had this to say about a possible recession in germany. Germany has been in recession before. There were threat ratings and a longterm view, and i think when you have a recession, does not change the fundamental picture. The key strength that germany has, which is the competitive is a strongch external position to the rest of the world, that will remain intact. A major exporter, but the conflict between russia and ukraine has sown uncertainty and deterred business investment. Meanwhile, Vladimir Putin met in moscow today as part of a regular meeting between russian and chinese leaders. Apparentlylinton talked about the Economic Partnership and said china was in the top four countries for Capital Investment in china. Local media is reporting said he wastin hoping trade between the countries would exceed 100 billion and that president li agreed and went to work on bilateral cooperation. And temporarily halting a court fight in opposition to a 7 billion in debt cutting plan, one of the last major hurdles in the municipal bankruptcy. Lawyers in detroit say the two sides would try to resolve objections to the plan. They are trying to wipe out in unsecuredlion debt that the city owes to creditors, and that is a check of some of the top stories are following for you. And president obama will receive an update on the fight against Islamic State militants, with u. S. Air strikes so far failing advances,e extremist and more than 20 nations are participating in the international coalition. Peter cook is at the white house with more on that meeting, and, peter, they have a lot to ask us, because the latest news is not exactly encouraging. They do have a lot to discuss. They are going to leave here shortly to go to Andrews Air Force base, where the meeting is underway, and the coalition has some so far done damage to the Oil Refineries that help generate revenue for the Islamic State, and they are forcing them to change their tactics, but they have not stopped there advance into New Territory in syria and iraq. We have, basically, the Islamic State consolidating its control over the and bar province with baghdad, several towns taken in recent days, and this is according to officials, and right now, and there are about they are about 20 miles from syria. This is right along the turkish border, a kurdish community. Like kobani can fall, as well, in a matter of days. This is not the success they were looking for. Seen that our airstrikes have had an impact on targets in serious, with the tolity of iso isil command and control. At the same time, i do not think anybody wants to leave you or anyone else with the impression that because of the airstrikes we are going to dramatically reverse the situation on the battlefield overnight. We will not. We have been very candid about that this is a longerterm proposition. A longerterm proposition ground,l involve on the and Syrian Rebels will be drained over time to take the battle on the ground. And then there was the joint chiefs martin dempsey, and the president will be there shortly, expected to speak afterwards, a pep talk as well as anything else to try to get the coalition to turn the tide. Peter cook joining me from the white house. Thank you. I am joined by indira in washington. Is it working . Do we have tangible evidence of that, and have the strikes inaged to roll isis back iraq . Well, of course, that is the billion dollar question, whether the investment americans are butng is going to pay off, isis controls about the same amount of territory that he did before the campaign began, so Officials Say really they want and abilities, and that means command and oil fields and refineries, and apparently, they have done that, and in iraq, we have seen there have been advances, thanks to the coalition, and both of the iraqi dams are back in their hands, but iraq has forces on the ground, and that is a date difference. This is even though there have been mixed results, and we are hearing from and bar province right next to baghdad that isis now controls 80 of that process. That is incredibly troubling, because it would give the militants a Straight Path from qa to baghdad and beyond, and we have heard the chairman of the joint chiefs, general dempsey, saying they are using lowflying attack helicopters to keep them at bay. The u. S. Coalition started the airstrikes in syria. Talk to us. Are the airstrikes tougher . I think they are. That is because unlike in iraq, we do not have the Ground Forces or the indigenous forces on the ground, engaging in the urban warfare that is needed. To takeknow it is going at least a year if not more to train 5000 or even more moderate rebels from syria, who are supposed to have boots on the ground to fight against isil. Now, if we try to figure out what is a measure of success, they said judging by whether or not the u. S. Is stopping isis from threatening u. S. Interests at home and abroad, that is a negative. Did we prevent any attacks from happening . We do not know that. All right, joining us from washington, thank you. Coming up, the u. S. Midterm elections. We would get a preview of the issues facing democrats and republicans over the next four weeks. Line continues. Welcome back to bottom line. Areu. S. Midterm elections four weeks away, and they are facing twin october surprises. A strategist at Potomac Research group has more than 30 Years Experience covering washington for institutional investors, and he joins us from our San Francisco bureau. Welcome back. Great to see you, mark. Some good surprises and some not so good surprises. What should they be bracing themselves for . What you might think that the number following would help, but number one, there is a feeling that perhaps this administration could do more about ebola. Sure why, but that is out there as a concern. Number two is isis, and we see fanatic troops marching on baghdad, that is not good for the party in power. A does this play into republican mantra that has been going on probably from the reagan years, that democrats are weak on National Defense and weak on National Security . I am not sure it is fair, but whoever said politics is fair . In the last 24 48 hours, we have seen a shift in the polls, and in north carolina, kay hagan, who had been ahead by several points, now is trailing by one point, and in new hampshire, another state that can be pretty is now, Jeanne Sheehan barely i had, so the polls are starting to move. Which part of the electorate controls the air fate next month . Hispanic americans . Africanamericans . All of the above. I think it is really crucial, mark, for turn out to meet expectations, and that is an area where democrats have some hope. They have plenty of money, and they have pretty good ground games. As good sure it is not in the nonpresident ial election, but i think their ground game will make a difference, but all of the trends i have seen seem to be moving towards the republicans. You know, it is interesting, because i guess in the last couple of president ial election cycles, the thinking is that democrats took a page from the karl rove playbook, and now, the republicans are taking a page laybook andmocrats p getting that ground game running, getting that social media up and running. Yes, and i think a lot of this boils down to each party has the most motivated voters, voters who want to send a message, and i think clearly, that is republicans right now. Win controlblicans of the u. S. Senate, and if they will, how will those in the Business Community react . I think you have to look at specific issues. First and foremost, republicans have a shot. Device a big lust for a manufacturer. I think theyre going to try to move that in january. The keystone pipeline, they might approve that, but i am not sure that can survive and obama veto. The gas tax could survive and obama veto. But as we get into winter, the reform. Issue is tax i think paul ryan and others are looking to move quickly, especially on Corporate Tax reform. That would be a big issue for the markets. I am speaking with a chief political rather just. You and i have talked about what the media likes to call a civil war within the Republican Party with the conservative base. Is that something that is going to play out in a couple of weeks . You bet, and i think the choice is quite start. On the one hand, you can take the tape crews prescription, which is really very militantly opposed to all obama, precipitating a fight over the debt ceiling at the end of the winter, or you could look at the pragmatists, people like john boehner and mitch mcconnell, assuming they will win reelection. They would prefer an agenda that is more moderate, because their goal is to show the country they can govern ahead of the 2016 election, and they know they have a tough fight against hillary. I think the last thing they want to do is get real confrontational. Saying peopleere were underestimating just how grim the deficit picture is and that we will actually even see a surplus in a few years. If the economy is improving, why are the democrats not getting any credit . It is the damnedest thing. I think you can say the main reason is that most americans, especially people with big families, are seeing no increase in their disposable income. They look at purchasing power, and it has been stagnant since 2007, 2008, and the deficit is falling, the unemployment numbers look good, the economy is growing about 3 , and people look at their lives, and they do not see any real improvement in disposable income and purchasing power. It is interesting. It is almost like politics is local and these things happen in your own home. One minuteve about left. Lets talk about wall street. Stocks have been rising, but the rally comes after the worst selloff since 2011, and more than 1 trillion has been erased from u. S. Equities since october 8. Are the markets on edge, or are the markets over done . You could argue it is over done, and i know people say that at this time of year, they get a little nervous, but let me make a few quick points. I think the positive here is the Interest Rates, giving the housing industry a shot in the arm when it needed one, and the other one is giving the whole country a de facto tax cut that i think is going to be very stimulative. Research group, joining us from our San Francisco bureau, greg, it is always a pleasure to see you. Thank you for your time. You bet. Tonight, another edition of bloomberg politics, all due ect, at 5 00 p. M. Eastern, 8 00 p. M. Pacific, with new articles every day on bloombergpolitics. Com, and a reminder, taking stock with at 5 30. Is Olivia Sterns will be back with another on the markets update when bottom line continues in just a moment. Welcome back. We are approaching 26 minutes past the hour, and that means Bloomberg Television is on the markets. Once again, here is my colleague, Olivia Sterns. Are rallying, bouncing back after we saw the s p 500 see its worst selloff since 2011, the s p up about nine points, the dow up 48 points, the nasdaq up about 23, 22 upnts, and for the year about a little more than 2 , and what we want to show you is amc network shares up, on news that more people tune into the season deadre of tghe walking football, andght it was the largest in cable tv history, and dominos, shares trading at an alltime high after the countrys secondlargest pizza chain reported profits and sales that topped analyst estimates, and the company is enticing customers with deals such as two pete says for five dollars 90 nine cents each. Lets take a quick look at what is happening on the treasury markets. And this is 2. 2 . Look at that. With markm line after the break. Welcome back to the second onfhour of bottom line Bloomberg Television. I am Mark Crumpton. My colleague su keenan is joining us from the newsroom. Good afternoon, mark. This is a very sharp close for oil. West texas intermediate down for the fifth time in six days, and in the final hours, a freefall, now down more than 4. 5 , below the 82 mark. It is dramatic. We will be continuing to follow these numbers. For these numbers to settle out, it will take a bit, but brent crude falling to the lowest level in about four years. A bearish forecast from the iea, saying oil demand will expand this year at the slowest pace since 2009, and that report is really brent, and a sharp drop in youre seeing now, down more than 5 at the close. For the fourth month in a row where the iea has cut the demand forecast, and they are now warning about a staggering decrease in price. This poses tremendous downside risk. And this is at a time when the aboutas been talking fracking, and at the same time, Global Demand is falling, and it is affecting salaries, iraq, to cut prices, and that is raising concern. Opec members will now compete with one another. Lets listen. Are in a the uae different category. They are very small countries with a small population and huge wealth. So i think as prices start to slip down, they will start curtailing. Curtailing output. Are hoping forey to stabilize price, and an emergency opec meeting is looking to be called at the end of next month. For metals, it continues to be a safe haven, gold at the highest in almost ever your weeks. And this is clearly a shot in the arm for gold, especially after speculation about the fed keeping Interest Rates low. Wheat extending yesterdays gains, and there are continued concerns. The harvest had been declared a record crop, and now we are seeing it dropping even after the close as all those contracts are being calculated. Marco . Su keenan joining us with the commodities report. Thanks. And the u. S. Centers for Disease Control said it is going to reconsider its Infection Control protocols and plans to increase Health Worker training after a nurse caring for and ebola patient in dallas tested positive for the virus. Joining the for in San Francisco is the president of the National Nurses union and the president of the california nurses association, and from washington skype is a professor of Global Health law at georgetown university. Welcome to you both. Thank you for your time today. Let me start with you. Ec sent ebola guidelines to they sent ebola guidelines to hospitals. Where the nurses trained to deal with ebola . Guidelines were received, but they are probably still in somebodys desk or are , and our studies clearly show that nurses are not being given the training they need at the hospitals by our own surveys, so we are extremely worried about the situation. Why do you believe they are not receivin