sonali: welcome to bloomberg markets come let us get a quick check on the markets, the s&p 500 trying to get back in green. for looking at flat on the day, a little bit of pressure on the s&p 500. fresh records, the same goes for the nasdaq 100, heavy earnings story, we keep an eye on some movers. a law impacting these indices. the two year yields, basis point higher. we have crossed the four point

40 level on the two year yield and yields her back on the rise with the rapid repricing of rate expectations. crude only declined by .4%. this has been volatile, comes after a jump we saw a day ago. big day movers on the equity side, impacting indexes, d.r. horton falling on homeowners here. 9.6% down on the day. one of their worst performers in the s&p 500 as well as three of them as well. 11.7%. one of the worst days you see for 3m and years also on the back of disappointing outlooks. united airlines, green, beating expectations for 2024 outlook wall street had had. 7.7% on the day. the best that you have had since october. verizon as well. you are seeing some brightness in the stock, up 5.5% on the day. we are in the heart of earnings

season with a month of trading in 2024 behind us. some trades stand out as overcrowded. here is bloomberg's abigail doolittle to explain. >> overcrowded trade has to do with big tech. the magnificent seven. look at the nasdaq 100. this index is up than 57%. compare that to the s&p 500 come up about 30%. he russell 2000 up about 14%. you see a ton of money going in. look at a couple of those names. these numbers are incredible to see. nvidia stands out about microsoft up to 63%. nvidia up 210% over the last year. meta of 170%. amazon up 58%. a ton of money going into these names, valuation is relatively high. some of these earnings are ahead next week in particular.

if we want to take a look at the actual positioning on this, look at the bloomberg terminal, we will say this is the net positioning for speculators. unprofessional investors. a multiyear high, a lot of traders crowded into this. if we were to change this to the hedge fund version it would be at the highest level since 2016. head of big tech earnings, traders piling into big tech. it will be interesting to see if these companies continue to deliver the results investors want or will there be some wobbles and disappointments? we will know soon next week. sonali: they crowd is lonely if it is in the same direction. another issue top of mind for investors is the election and voting is underway in the first republican primary in new hampshire. kaylee isn't manchester and joins me now -- is in manchester and joins me now. >> it is going to be about turnout today as this is two people competing in this

republican primary. nikki haley and donald trump. the state election officials including david scanlan who joined us on bloomberg has suggested we could see record turnout today. he suggested north of 320,000. high turnout is what nikki haley might need to actually have a chance of getting close to donald trump or beating him in the granite state. she says this is her best chance to do that given this is a state that is heavily populated by independent, undeclared voters who could break for her. polling leading up to today suggests it will be difficult for her to actually pull off. the boston globe have a tracking poll running each and every day and their poll showed that donald trump is 22 points ahead of her with 60% support and voters for him are much more enthusiastic than they are for her. they are the ones more likely to be turning out and going to the polls today. katie: do you have a sense of how her campaign is preparing for this event and the outcomes of it? >> they have put a lot of effort

into the granite state more so than in iowa where she had last week came in third. americans for prosperity, a super pac backed by the coke industry, the political machine has been knocking on doors, hundreds of thousands of them in new hampshire trying to get people to vote in this primary. the question is going to be the fake of her campaign moving -- fate of her campaign moving forward. chris sununu has been one of her most vocal supporters has said all that she needs is a strong second. going to south carolina, her home state for the primary on february 24th. the campaign has the resources, it will be a question of whether or not she cannot put up a strong enough showing here that there is a path for her to actually defeat donald trump for the republican nomination. she is the last one standing, ron desantis dropped out, hutchison dropped out, the field

has gotten narrower to we have two candidates. we will see if we are still at two candidates come tomorrow. sonali: speaking of coming tomorrow, will it mean for dollar pump have such a back-to-back victory moment leading into south carolina -- what will it mean for it mean for donald trump to have such a back-to-back victory at into south carolina? >> his pathway into the nomination is clear, the general election will be a biden and owner pump rematch. voters do not want it, that may be what we get. two contests in, only iowa and new hampshire winning both would provide a momentum to the former president. that is not typically at the point where we have a candidate. at least we get to super tuesday where there are 16 estates in the game and on that i would point to a campaign memo that nikki haley's campaign as out outcome everybody calm down, we are staying in this race and the ended a note saying see you in

south carolina. they're moving onto that primary no matter what. the campaign manager pointed out that 11 of 16 estates on super tuesday have open primaries. democrats could turn out and vote for nikki haley if you cannot get enough support within the republican party. that is what she is betting on here new hampshire. now the democrats show up at undeclared voters may break for her -- not that the democrats show up, but undeclared voters may break for her. sonali: a long day ahead of us and a lot of anticipation about what is ahead. do not miss our special coverage of the new hampshire primary tonight at 8:00 p.m. wall street time. we will talk about netflix, growth mode as it makes it makes a $5 billion bet on live events. we talk about that next. this is bloomberg. ♪

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markets and it is time for a stock of>> 13 billion in the law

years, two or three, a pretty notable step up there. in addition to the fact you have distracts from last year, they do cost savings and that is coming back on, the production cost is back on, netflix's budget is going up when it is competitive in the industry. and make sense to be built into these live events because you have got the on decline of linear tv and netflix with an

advertising tear now. they can roll advertising into the life event programming which gives them some extra opportunity to earn money. sonali: what you think about the opportunity if it is expensive to use as a hedge? you mentioned these rights earlier, what do live events help at do and what global opportunity and what kind of content opportunity relative to the revenue it could bring in? >> it is -- much of hedge is the word but it is a different kind of content from netflix's base of programming and they have been expanding into other types of content for quite some time now. reality has become a major genre for them. they had a small live sporting event, this golf event recently. this is a bigger step up into a live event programming. the fact it live is different from on-demand programming and the advertising angle that this can bring in and the number of users that can draw 80. i think it all speaks to

netflix's ability to grow further. sonali: how do you feel about netflix's competitive positioning today? you think about the growth prospects and a lot of concerns about the content play versus whether they are bringing it in the door? >> it is a competitive landscape and you have all of the major competitors whether it is amazon prime, on this sort of newer entrance side from a couple of years ago or the incumbent tv networks like disney building out their own direct to consumer services. all of this competition and a time when all of those companies or the network companies are under a lot of pressure to get into profitability. most of them are either breakeven or losing a lot of money. the pressure is on for all of these companies to get into a more profitable state. already at a 20% operating margin. i think netflix test at the standard the other network groups -- have set the standard

the other network groups have been trying to catch up. it is still above the rest. sonali: how do you feel about its ability to balance subscriber growth with price increases? >> yes, this quarter when they reported after the close will get the first indication of the impact on any potential return if there is any from the price increases. with the arm, the average revenue per member gains they can post. the question for investors is it has become a balance over the last several quarters if not add subscribers, but which kinds of subscribers they are adding. are they adding new tier subscribers which overtime could generate higher average revenue per member? or are they shifting members from the more expensive paid tears onto the cheaper advertising tiers and shift

into that? as is often the case, it is a focus on subscriber numbers and increasingly on the average revenue per member number. ultimately on revenues. sonali: do you think the wwew opportunity creates a greater -- wwe creates a greater opportunity for netflix and how they can that opportunity become ? >> the news just broke today, i have not done analysis on it but we have written in the past about the prospect of live event programming being a good advertising medium and therefore, this is a big step forward for them to be adding this scope of live content. i think that they would not have been able to do a deal like this unless i had an advertising basis which has only been in place.

this is a captive audience that is willing to pay for the content and these streaming services have been using live events as a means of getting consumers on and driving advertising revenue from them and using that as a basis to keep consumers on, they can add the bw fans that are not subscribers now, and get them to stay not just with this program but to watch other netflix stuff, that could be a winning formula for them. sonali: thank you for such a balanced view, this is a stock that has risen 65% last year, flat on the day or this year rather and a make or break moment with earnings tonight. we talk about amazon because it will begin airing advertising on its prime video service. we have a guest to explain the opportunity. we were just talking about netflix and potential ad revenue, how does amazon start to get ahead of the ad gathering game here with prime?

>> is going to be, i think it will be a watershed moment or the connected tv -- for the connected tv ad. this is an opt out, they will be forced to watch advertising when they switch on their prime video service, netflix had a standard tear prized at $15 per month, if you wanted to watch it, do what advertisements you had to sign up for the cheaper tear at six dollars 99's, they have to build database from scratch. amazon goes in with an established base of 115 million nightly prime viewers, that is a huge advertising opportunity for them. we think it is a success right out of the park. they will blow it out of the water this year in 2024. amazon prime we estimated about $3 billion in ads.

that puts them right off of the bat, it puts them in the same league as hulu or as a youtube tv. sonali: you think about not just the ad opportunities but you can sell ads in and around. this movie your seat on the back of netflix and wwe and the barda platform play for sports, what is the opportunity between amazon and to be able to get into sports and compete more heavily with the other giants like apple? >> amazon already has a huge sports play, one of the properties they went after was thursday night football. the first time that nfl had actually moved a football package from broadcast television to a streaming platform. after that, the following youtube deal for nfl sunday ticket. they already had some experience with bringing sports to streaming and we have seen a surge in ratings on the amazon platform this year. almost up 20%.

it is gathering momentum and amazon is obviously taking all of these numbers and viewership details to kind of -- their advertising base as well. for amazon it was different. one of the things they had to do which nobody else can do that no is their deplatform, they have trouble ads -- shoppable ads, you can convert an ad into a shopping experience. that goes into the power of amazon. sonali: thank you very much for your time. coming up next is the wall street week, my favorite topic to talk about, we talk about women in the boardroom for what is bacon finance, next -- what is big in finance, next. this is bloomberg. ♪

sonali: this is bloomberg markets, it is time for the wall street beat, look at what is buzzing in the world of banking and finance. we look at the gains women are making in america's boardroom and we are joined by bloomberg's jeff green. the numbers have gotten better over time, how are we away from any sort of parity? >> we are looking into the 20 30's, 2032 may be at the current rate. it was a little sooner

during the #metoo movement, it has a slow down and we are still a records every year. it has been a dozen years since we have not set a record women in the boardroom. it is a slow trajectory. steady and slow, not quickening at the moment. sonali: we are in an era where dei is under pressure. beyond that, there is also a lot of concerns about hiring retention, what is different about the approach to women on boards today than it was during the meat through era -- #metoo era? >> it is harder to pressure the board to not pick women, that is what everybody said 30% was a magic number. once you start to get there, 60% on five boards we have never seen that before. when you have that many women in the room it is harder for somebody to say we do not want to do this dei thing, we should

back off of it when a measurable percentage of your board is likely to take that as an affront. sonali: another interesting criticism you addressed in your story as well as swinging too far in one direction or another and prioritizing certain groups. is this a real risk? >> on at this point. we do have five boards, 60%, 30 at parity. out of 500. it is interesting, we would not have had this discussion five years ago, the idea that they could be only 40% or less, there are some boards that are 70 something percent women. i do not think men are in any danger of obsolescence any danger of obsolescence anytime soon in the corporate world. sonali: quickly, winners and losers, what are the companies that are making progress? which are the ones obviously falling behind? >> it tends to be retail being stronger and tech being weaker.

that tends to be how all of these things work. you see industrials are doing better. you have more women ceos. that is sort of where you have women you tend to have women. it tends to be a pipeline going and it serves to get into a virtuous cycle if you think having women on boards is virtuous. it is industry that are creating opportunities for women and intent to have women -- for women tend to have women. sonali: we thank you for your time and your reporting. i want to take a quick check on the markets before i let you go, we are off of the session lows s&p 500 but we are still wavering on the day and we are barely in the great and we are roughly flat on the day, the two year yield hanging out above 4:40 -- 4.40 on the date. the nasdaq 100 getting a lift, big tech earnings after the

market close, i am sonali bassett, that does it for bloomberg markets today and this is bloomberg. ♪ ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education crafted just for traders. all so you can trade brilliantly.

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announcer: from the world of politics to the world of business, this is "balance of power." ♪