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francine: warren buffett says equities are less attractive than they were but still beat bonds. and theresa may says she will lead the tories into the next election, but does anyone believe her? this is bloomberg surveillance . certainly a packed show, packed week actually for an end of august kind of feeling. it has been quite busy in terms of news. this is what i m looking at in the markets. stocks advanced on a rosier picture for the growth outlook. we had pretty good economic figures out of america. the chinese economy seems to be holding steady. the u.s. administration sent different signals on north korea, which means that a little bit of the nervousness has been taken off. among all other asset classes, dollar seems to be studying. let s get straight to the bloomberg first word news. here s nejra cehic. nejra: tropical storm harvey has closed down almost a quarter of u.s. oil refining capacity, flooding and power failures reduce america s feel making capacity b ....
2.15 on a 10-year. kevin: and can you stay long in the e.c.b. meeting on thursday? john mentioned gasoline. at one point it was over $2 a gallon. the issue now is are we going to have the supply? colonial pipeline has shut down different supply to the east coast. that could be an issue for this driving season, so watch that commodity. copper, nickel, zinc all on the upside on that better manufacturing data out of china. those metals have been a killer month. copper had the best month, highest level in three years. we ll talk about that as it relates to the 3% growth. now let s get an update on headlines. emma chandra is here with first news. chandra: a french chemical plant exploded in texas earlier today. the company, arkema, had expected that to happen after the storm knocked out power supplies needed to refrigerate volatile chemicals. meanwhile, the storm has now knocked almost 1/4 of u.s. oil refining capacity offline. fuel-making capacity is now at a seven-year low ....
looking at the spread, the two tens, you would thought it would be flatter, it is steeper. up 82 basis points and getting a by .2 percent, longest losing streak for the index since may of 2016, the dollar regains strength. david: yesterday federal reserve chair janet yellen spoke out saying although she still thought inflation was on its way, the model the fed has been using may be off. shortfall and inflation is a mystery. as of february of this year, inflation was running just under 2%. core inflation and then we have had a string of several months in which inflation was unexpectedly low. dan turuollo has worked alongside janet yellen. great to have you here. daniel: thank you, david. it has been clear for some time that there is not a working model that on a meeting to meeting basis can give any sort of the size guidance to the fed as to where inflation is headed. people understand directionally that removal of slack from the labor market and the economy more general ....
out of las vegas as a shooting incident on the strip left at least two people dead. this is bloomberg surveillance . updated onkeep you las vegas throughout the morning. i m francine lacqua in london. let s quickly check on your data. there s quite a lot going on today. monday means we need to digest a lot of news from the u.s. overnight. just getting some breaking news out of bmi for the eurozone. euro area september manufacturing pmi, rising to 58.1. that is shy of the estimates, but just a touch. preliminary was 58.2. 58.1 is what we are getting. the dollar rising, treasury yields up, investors trying to contemplate tax cuts as well as the chances of a new and potentially less dovish fed chief. spreadse, we look at the between german and spanish yields. first, let s get to the bloomberg first word news. here s nejra cehic. nejra: we start with that developing story. at least two people reported dead and 24 others injured after a shooting on the las vegas strip. pol ....
headlines from outside the business world. emma chandra is here. emma: thank you, david. it was terrifying night on the las vegas strip. police say a gunman perched in the mandalay resort and casino opened fire on an outdoor music festival. the death toll keeps climbing. ere s the las vegas sheriff. the number of injured, i do not know yet. but we are looking in excess of 50 individuals dead and over 200 individuals injured at this point. emma: police swat units stormed the mandalay bay and killed the suspect in the shootout on the 32nd floor. he s been named as steven paddock, a 64-year-old las vegas resident with no known terror connection. he s believed to have checked into the hotel as a guest. authorities say they ve also located a woman who was described as a person of interest. meanwhile, nearby mccarran international airport has resumed operations. some flights had been diverted to other airports during the shooting. and we ll bring you more on this developin ....