good morning. these are the stories that set

your agenda. volatile trading. investors continue to adjust to signals from the central bank. upping the odds. j.p. morgan says there's an increased chance of a u.s. recession this year. it estimates three quarters of the global trade has now unwound. the latest earnings from siemens. we speak with executives later this hour. we have the earnings crossing right now from not global conglomerate. third-quarter industrial business profit beating estimates. we know there's a focus on the european part of the business and any softness out of china. third-quarter revenue coming in softer than the estimates. 18.9 billion euros. in terms of orders, that numbers above the estimates. orders coming in just shy of 20 billion euros. the estimates had been for 19.5 billion euros. in terms of comparable revenues, increase of 5%.

estimates have been for 4%. a beat on that level as well. solid beats coming through from siemens and the third quarter. net income at 2.1 billion euros. the estimates had been for just shy of 1.8 billion euros. in terms of the outlook, waiting for lines on that from this company. again, the top line in terms of the industrial business, it's a beat for siemens in the third quarter. we also bring you earnings coming through from elian's. this stock up around 8% year to date. we look at the flows when it comes to pimco. we wait for the details on that front. this insurance company and asset manager coming through with operating profit above estimates. a beat coming through in the second quarter with operating profit of 3.93 billion euros. the estimates had been for 3.66 billion euros. still seeing full-year operating

profit at between 13.8 billion to 15.8 billion euros. so maintaining its full-year operating profit. coming through from allie on's in terms of the outlook. it's a beat in the second quarter on operating profit. revenues of 42.6 billion euros in the quarter. let's check in on the markets more broadly than. investors will be weighing up the latest earnings coming through today in europe. stateside, currently futures pointing lower in europe by a full one percentage point. there's a lack of certainty in these markets. again, caution coming through on the asian trade given what we've been seeing from some of the details crossing on the boj. u.s. recession turned weaker and ended lower by around 1%. nasdaq 100 also ended lower. nvidia dropping over 1%. ftse 100 futures in the u.k.

looking at losses of 45 points. lack of direction. inflation story in terms of cpi next week out of the u.s.. joshua -- jobless claims today will be scrutinized. let's flip the board and lacrosse assets. we had a week sale in terms of 10 year treasuries. that was the assessment of most out there. yields moving slightly higher on the back of that. yields down three basis points on the benchmark 10 year. 30 year option later today stateside. keep an eye on that one. the japanese yen currently up 3/10 of 1%. brent gaining 1/10 of 1%. bitcoin getting relief after a judge ruled around a case focused on ripple labs with a payment far less than some had expected, giving the crypto space a bore. let's cross over to asia right now. what are you looking at?

avril: it's another day of japanese narrative playing out inequities and the wider region. we are seeing today for a second session, the nikkei and topics started the day on the back foot , pulled into green. now look at where it is again. a lot of volatility for investors to digest. part of this is the confusing messaging we are getting from the bank of japan. also consider the negative handover that we got from wall street. concerns about possible retaliation by iran and weak u.s. treasury auctions. in terms of japan, 30 year option today. so pretty doesn't demand. this is after yields have been picking up after the global rally at the start of the week. now let's flip the board. you see the rest of the region looking pretty mixed. i want to highlight the japanese yen. today, there was expectations that the summary a bit -- of

opinion from the july meeting would perhaps reinforce the hockey's messaging last week. indeed we got one boj member saying that they see the neutral rate at 1%. this is far off the 0.25% where we are right now. so leaning a bit hawkish. after what we got from ojeda yesterday, there doesn't seem to be a hook -- a coherent message coming out from the central bank. this is a very reactive market we are seeing. the end is climbing a fair bit but far off the 141 level. relative weakness in the japanese currency. what we are watching is how today the pboc set the fix above the 17 -- 714 level. this is the weakest level since we've seen november last year. the signaling is maybe they don't want to strong chinese a currency with the economy in this state. just want to show you this chart which will illustrate the volatility we are seeing in the

nikkei as well as the end. highest level since 2008. for the one-month implied volatility, highest since 2020. tom: ok. the volatility remains across japanese equities. u.s. treasuries happen sliding. yesterday investors shunned a sale of 10 year notes offered at lower yields. let's bring in mark cranfield, our strategist from the mliv team. yields lower in the session across the treasury curve. this was described by many that we quoted as weak in terms of sale that these 10 year treasuries in the u.s.. does that suggest that the bond rally towards the back end of the curve is done? mark: quite possibly. this week, we've seen a low

print of 3.66 on the 10 year treasury yield. unless investors really believe that a hard landing is coming for the united states and coming very quickly, it would be hard to quibble -- go below that level. especially when the federal reserve is trying to push back a bit. they will -- they don't want people pricing in unless they need to do that. they would prefer a move by 25 basis points. there's a lot of data to come out even before that meeting. you would expect them to try to be a little bit cautious. certainly the treasure market has gotten ahead of itself. trying to sell 10 year bonds more than 150 basis points low the federal funds rate is a bit of a stretch. although some people are right raising their expectations, there aren't many people who have a base case that recession is coming within the next three to four months. it's only a possibility. it's not something a lot of people want to invest a lot of money into.

with all that considered, to try to keep 10-year gilts below 4% is not going to be easy. we may well have seen the lowest for quite a while. tom: you talk about the data. jobless claims out later today for the week and then we have cpi inflation data out of the u.s. next week. how sensitive is this treasury market to those data points? mark: they are the two key ones. jobs and inflation. much more in play than they've ever been before. particularly since jerome powell cited weakness in the jobs market himself. every piece of data which tells us more about what's going on will be scrutinized very closely. we are expecting 240,000 on the claims today. not much different from last week. if we get a bigger number, moon -- move for plenty of volatility. the market is sensitive to anything that enhances the idea that the american economy is

slowing down quicker than the federal reserve expected. anything which suggests that we go beyond a soft landing, yes they will be watching this closely. in many ways, the cpi report is even more important because that's where the one where the fed has been looking at those numbers gradually coming down. they want to see another soft number next week. there is still one for -- one more before september. the federal reserve would like to see a gentle path. they don't always get what they want. there is certainly room for volatility today and again next week. tom: braced for volatility. a preview of the data and what it could mean for these markets. jobless claims later today and inflation out of the u.s. next week. thank you. here's what i'm thinking about today. 1:30, u.s. jobless claims.

sensitivity now to these markets around any softening in the labor market and what it means for repricing around fed expectations. markets still putting in pricing around a 50 basis point cut in september with a full one percentage point of cuts coming through expected by the markets by the end of the year. 6:00 u.k. time, 30 year bond option. pay attention to that, given the lackluster demand we saw for u.s. treasuries yesterday. the week auction and the ripple effect across the markets on the back of that. really important for these markets. on the earnings front, we've had earnings from some of these competitors including the likes of disney. mixed picture when it comes to disney earnings. we will see what the reader crosses for paramount later today. terminal subscribers can go to the terminal. a couple of stories and focus today in terms of daybreak.

jp morgan raising its recession risk to 35% by the end of the year. three quarters of the trade. that's a call from j.p. morgan. the boj with the details coming through after them a recent hike. didn't see july hike as policy tightening in terms of what we got from some of the members. that was before these markets and the view from one member that may be 1% is the neutral rate for the boj. european gas features jump on reports that ukraine has ceased a gas transit point just inside russia. we will look at how prepared the region is for potential supply shocks. that snack. plus, we will be speaking excessively with the cfo about their latest earnings report. stay with us. this is bloomberg. ♪

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tom: happy thursday. european gas prices have surged to the highest level this year following a report that ukrainian troops seized a key gas transit point near the border in russia. russia's state-controlled gas from declined to comment as did

ukraine's defense ministry. let's get more details and bring in dan murtaugh who has a finger on the polls of the energy space for us. what do we know at this point? dan: it is still mostly rumors. the ukrainians invaded across the border in russia and have gotten a hold of a pipeline transport station. that's the last station before gas pumps enter ukraine. russia has basically stopped all pipeline gas flows into you -- except for this one pipeline. if anything happens to these flows, that would be the last leg of russian gas entering over the land borders into europe. it mostly serves austria and slovenia. there's not a huge risk of any kind of widespread shortages. for right now, they seem to

remain normal. ukraine said that basically if it wanted to stop the flows, it could have done so without taking over this pipeline substation. so they are planning on keeping it running. we haven't heard anything from them on whether they want to keep the station running keep making money. or if they are going to try to turn off the spigot. that's why you are seeing of extra risk on with futures prices jumping up 4% to the highest level of the year. tom: what's your understanding of the sensitivity then of european gas markets to this kind of risk? where do inventories stand as we get to this made your point in europe? dan: -- midyear point in europe? dan: it's inventories are up in the mid to high 80% range. 10 percentage higher than this time.

it's been really hot and -- in europe and asia. that's been driving a lot of gas demand across the world. places like taiwan and india which have set records or multiyear highs in lng imports. europe has seen it increase in lng imports in recent months as more of the product has been shipped over and asia. -- in asia. if europe needs to fill up its supply, it will have to outbid these asian buyers for it. that will add to costs and that's why you are seeing try -- traders try to get ahead of that in case. tom: you're sitting in beijing. what is your sense of the demand picture out of china? all these concerns about the softness of the chinese economy right now. the inability of officials to turn things around. when it comes to the energy consumption need about major energy imports, what is our in -- understanding of where that

picture is at? dan: it's a really complicated picture right now. we are seeing different pressure points across different commodities here. on the energy side, fuel has been a little bit softer. power demand is going really strong this year because it's been hot. there's been air conditioning needs. you are seeing new data centers. you are seeing a lot of ev's hitting the road. so power consumption is running really strong. gas outside the power sector has been relatively weak because there's been less industrial demand as the property market crisis continues to unfold. we are starting to see oil demand decline a little bit and imports dropped. partly because ev's are starting to crowd out gasoline cars on parts of the country. reduce gasoline demand partly because diesel is being hit by the lack of construction. tom: thank you very much indeed.

the asia component to that energy story as well. coming up, the adani group infrastructure ambitions. we ask one of its next generations to believe the hindenburg short seller. >> very stressful and tough time. emotions were high.

i can't believe you corporate types are still calling each other rock stars. you're a rock star. we're all rock stars. oooo look look at my data driven insights, i'm a rock star. great job putting finance and hr on one platform with workday. thank you! guys, can you keep it down. i'm working. you people are (guitar noises). hand over the air guitar. i've got another one. tom: welcome back to bloomberg daybreak: europe your get more now and our exclusive series on the next generation of leaders being groomed to run india's $213 billion adani group. jake adani is the youngest son of the conglomerates founder and

heads their air force and defense businesses. the 26-year-old was a relative newcomer when short seller hindenburg's allegations of fraud it last year. how it impacted him and his family. >> the youngest son of an indian billionaire. as part of the tycoons succession plan, the 26-year-old engineer is overseeing the running of seven airports across the country including the one in india's financial capital mumbai. the adani group is also building a brand-new airport for the city at a cost of $2 billion. along with airports, jeet is responsible for the defense business. the youngest of the next generation of adani leaders is being groomed to run big parts of an empire that's been rocked

in recent years. in early 2023, just a few years after jeet joined the family business, a report published by hindenburg researched accused the company of fraud and share price manipulation. it sparked a $150 your -- $150 billion meltdown. they have denied the allegations and their shares have recovered but they are still dealing with the fallout. we spoke exclusively with jeet adani and asked him how the groups strategies have changed. >> you had just joined the business when the hindenburg report came out. how did it affect you personally? what role did you play in that crisis situation? >> it was a very stressful and tough time. emotions were high. i think the most important thing that was on my mind was, what

can i do to support the family? more than that, how do i support the larger family, the employees? the biggest risk that you run in times like these is motivation. people losing hope. to make sure that everyone is motivated. everyone knows that what we are doing is making a real impact. we continue with the work because these things happen. but we don't want to lose motivations. >> some of the investigations or allegations are still an overhang on the group. how are you helping investor concerns at these times? >> based on the interactions that i've had with investors over the past couple months, i think there's a clear understanding with the investors , everything that was said and allocated against us, was

rehashing old things again. a lot of investors have a pretty -- appreciated the communication that they've done over the last 18 months. at the end of the day, not a single investor will be unanswered. with all of the performance on the financial side, they were clear that this is a very good asset. all of the companies are strong infrastructure assets. the leadership team has given us enough confidence back. that has actually helped investors realize, look beyond this and look at the asset. look at the leadership team. the kind of cash we are generating. what kind of growth we are looking for. >> the youngest son.

disney has reported mixed third-quarter results with weakness at its theme parks offsetting its first-ever profit in streaming. disney sees pressure on park attendance lingering for the next google -- few quarters after predicting a rebound in the final months of 2024. >> lower income consumers are stressed and shaving a little bit off of their time at the park. higher income consumers are tending to travel overseas more right now. we see this as a few quarters of slight perturbation in the numbers. flank -- frankly i will think we would be back at the beginning of next year. >> warner bros. discovery shares tumbled after second-quarter results that missed expectations . the parent of cnn posted a charge of $9.1 billion after writing down the value of its traditional tv networks. the firm have concluded that cable channels are no longer

worth what they were back in 2022 when discovery acquired ora media. cathay would cooped up shares of tech firms just as her flagship fund sank to a new low for the year. the etf bought amazon, amd, and streaming device maker roku among others. up close wednesday at the lowest level since november, down more than 20% this year. coming up, antiracism from testers turnout in the thousands to counter far-right gatherings that failed to materialize. the latest on the u.k. unrest, next. this is bloomberg. ♪ with so much entertainment out there wouldn't it be great... ...if you could find what you want, all in one place?

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tom: good morning. this is bloomberg daybreak: europe. these are the stories that set your agenda. asian stocks erased earlier losses. volatile trade in japan rebounds as there are signals from the central bank. upping the ante. jp morgan says there's an increased chance of a u.s. recession this year. this is -- as it estimates three quarters of the trade has now unwound. siemens says weak demand for factory automation is hitting returns. we speak with the ceo of the german industry giant and the cfo shortly. we update on the latest earnings lines coming through in terms of the second quarter. it's a beat for this reinsurance. second-quarter net income coming in at 1.6 2 billion euros. the estimates have been for 1.5 billion.

a beat in the second quarter when it comes to net income. in terms of the outlook for the full year, still seeing full year profit of 5 billion euros. it maintains that full-year guidance on profit of 5 billion euros. those are the top lines coming through from this reinsurer. rheinmetall in focus giving -- given its central role in the defense base of europe. first have sales coming in as a beat. sales of 3.8 2 billion euros. the estimates had been for 3.65 billion euros. there was scrutiny and questions as to whether or not they would raise their guidance when it comes to profits. first half, the details are the operating profit for this business came in with a hefty beat. 404 million euros. the estimates had been for 350 million euros.

pretty sizable operating profit in the first half. the sales also coming in higher than the estimates. the stock up 70% year to date. the earnings theme will threat its way through the markets. there's a lack of certainty it seems. we will wait for john's claim stateside to get about her at -- better understanding of the labor market. we have that important inflation print out of the u.s. next week. details and comments coming through. some voices there in terms of the minutes that crossed out of the central bank. expectations from some that may be the neutral rate is closer to 1%. that led to adjustments today. european futures pointing to losses of eight tents of 1% after the gains of over 1% yesterday across the european space. downside for the u.s. session. s&p ended low by eight tents of 1%. the nasdaq 100 landed lower by over 1% as well. big chip names losing ground.

ftse 100 futures pointing to losses of five tents of 1%. nasdaq futures pointing to very modest gains. 1/10 of 1% after the downside of yesterday. let's look cross asset. 10 year treasury sale that was not well received by the markets yesterday. that also led to readjustments across the asset classes. the 10 year treasury option not being well-received. we have a 30 year option later today that could be consequential as well. just a move of three basis points on the tenure. you are seeing a little bit of game coming through for the japanese currency versus the u.s. dollar. brent up 1/10 of 1%. we continue to keep an eye on the tensions in the middle east. 57,000 on bitcoin. a bit of a lift in terms of some news lines crossing from ripple labs. an agreement of payment that's come through, coming in less than the sec had requested or expected. bitcoin and crypto getting a

lift in the morning session so far today. let's switch focus right now. thousands of antiracism protesters rallied across the u.k. last night following more than a week of writing by far-right groups. roz mass enjoins me now for the details. talk us through what we saw. there were protests in london last night. i saw them next to where i live in north london. the vast majority were protesting against these far-right racist groups who have been rioting and trashing parts of the u.k.. far outnumbered. generally peaceful in my neighborhood. what transpired across the country? >> they came out because what we was expecting was far-right groups to again come out to demonstrate in different parts of the country. we were expecting 100 sites for them to do so. as you say, there's been riots over the past week. some of them quite violent by these groups. very destructive of property and

so on. we saw the economy movement outweighed the movement in the end. thousands of people coming out to say, this doesn't represent who we are in the u.k.. you saw police out in great force as well. more police and antiracism protesters than far-right protesters themselves. we saw only small targets of them in several places. a couple of scuffles in the south of london for example. a few arrests but nothing at all. it fizzled out. the question is, where does it go from here? is this movement client? has a prime minister got no respite? he's been making it clear to them that they are going to potentially face jail and that could be very fast indeed. he has experience with rioting before, as we know. tom: that experience seems to be coming through. maybe sending that message then

to these rioters. is it a reprieve? do you think this is it then? what's the a session? >> is it over? even if these riots and, there's the challenge more broadly for the prime minister, for society really that there are these movements in the u.k.. there are people who have been feeling grieved about migration for years, partly through the brexit process. certainly there's a strong undercurrent of this in the u.k.. structurally, how do you deal with that? even if people aren't on the street. this movement is nebulous. there's no leadership. they are gathering suit -- through social media and very quickly. that's not to say they won't pop up somewhere else. this is something that police knew was coming. they were out in force, ready to prevent. we don't know, will they come again at some point? either way, the fundamental questions of what this is doing to society, those remain.

tom: longer-term challenges, taking on some of the social media handles and groups that are pushing this tents information. now to some other stories making news this thursday. taylor swift's three scheduled concerts in the end of have been canceled over what austrian police say is a suspected terrorist plot. two people have been arrested including a 19-year-old austrian allegedly radicalized by the so-called islamic state group. securing officials say chemical substances were found at the teenagers home. the tour is due to wrap up in london later this month. the cfo of german insurance firm in agrees spoke to us exclusively about the companies latest earnings. that conversation coming up in just the next couple of minutes.

stay with us. this is bloomberg. ♪

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tom: welcome back to bloomberg daybreak: europe. lines crossing in the last 15 minutes or so from the reinsurer. it's a beat in terms of the second quarter net income for this busin. 1.62 billion euros. the estimates have been for 1.5 billion euros. reiterating its full-year profit guidance of 5 billion euros. the stock is up about 20% year to date. i'm joined by the cfo of the business, joining me now for a reaction. thank you for joining me on these results. talk us through that 5 billion target around profitability for the full year. we know the hurricane season has

been challenging. is that would stop you from raising the guidance on that front? >> first of all, good morning and thank you for having me on the show. indeed they are pleasing results. this quarter and after six months we are awaiting 3.8 billion euros of net reserve. the highest result we ever held was after six months. very relevant. the question is, why didn't we increase it? i would say that's the typical conservatives is a. we are cautious until the very end. the third and fourth quarter are very cut heavy. let's give it another quarter and see how the development goes and keep the guidance unchanged from out. what's very clear is that the likelihood of overachieving our target has significant land creased. tom: that's what it sounds like. the likelihood of overachieving

has increased. that's an important line for investors. talk to us about these extreme weather events then. there are higher payment claims coming through. are there some regions now that are becoming uninsurable? >> indeed in the second quarter, we had a relatively high share of cut losses. slightly above our budget, 14% per quarter. this time it was 14.4. slightly higher. what actually happened is that there was not this one single headlight event affecting us to that extent. it was a number of small or midsize defense which added up to that overall demand. the most significant this quarter was a flood in southern germany. which altogether cost us 200 million euros. there were other events across the globe. all of them midsized which finally added up.

not one single event that would've made headlines in the news. tom: is it your assessment that there is sufficient capacity within the insurance sector to be able to make up for what's expected to be the increased claims around climate change? >> are clear answer is yes. there's enough capacity. we are very happy to deploy capacity. all this under the precondition that the terms of conditions have to be reasonable from an insurance perspective. under that condition, absolutely. there is sufficient capacity in the market. we are happy to be deploying more capacity. tom: your business has been a leader in terms of cybersecurity solutions within the insurance space. how big an impact was the crowdstrike event for you? >> very good question. i would love to know myself.

it's very early days. i cannot give you any internal insights or numbers yet. we are still assessing what's going on. i think the industry estimates as shown in the media, they have calm down a bit recently. it's early days. we have to assess it, wait for certifications from our clients and then we will see. tom: thank you very much. a hint that maybe the profit guidance could be beaten in terms of the full year. we appreciate your time. siemens says weak demand for factory autumn is a is hitting revenue. guy johnson spoke to the ceo of that company. take a listen. >> it was driven basically by another fairy strong quarter of strong infrastructure. our electrical business grew by

21%. also very strong. we had a couple of wins. they don't repeat in that size again. but this had help in our topline line and bottom line as well. >> fairly lucky numbers this time around. you have those stuck to your guidance for the full year. given what you just said, given what you see in the world at the moment, how predictable is the business right now? >> well, yes we indeed confirm our guidance. our full-year outlook for growth. we will end up at the lower end though. we also confirm on our guidance. the same is true for our businesses regarding profitability for the full year on the lower end.

the predictability, the biggest element which we have here is that over the last three years the automation business was growing tremendously fast. this ended up in quite a bit of stocking in ocean channels. this stocking effect has to go down. the market has to pick up on the others. this is the unpredictability. how fast does that go? when will the market pick up? we see a certain light in the chemical industry and in china which is a leading indicator. we still have a muted market for automation. it is temporarily a fact. structural. we believe the market keeps on going because there's a demand for higher automation and utilization in the industry. >> right. just trying to figure out when that happens is proving difficult. how big a fact is china in that thinking?

you talk about china recovery next year. lytic -- looking at the latest numbers, is that still your thinking? do you continue to believe that we will see recovery next year? >> yeah. that is still the assumption which we have. we still see a weak q4 and q1. until the end of the calendar year. and then let's see. we do not believe that it is a fast pickup in the chinese market. one side on the domestic consumption of china. also in the global markets. china is a very strong export market. it depends also how fast china goes through their reduction of the gdp share coming from real estate. this is something that really holds them back. all in all, china is the second

largest market for us. it will come back to growth. it might take a little bit structure wise. >> the story over the last few days has been huge debates around whether or not the u.s. is headed for a recession. do you see any indication that the u.s. market is heading for a recession? what data are you getting? >> well, on the one side, inflation reduction act is the right thing to do in order to attract value added to the united states. the money is not going that fast . we see a slight pickup but not really an impact that we would hope to see. on the other, ahead of the elections, maybe the market is a bit muted. all in all, the united states was always a market which was quite resilient. acting very fast. we believe that this is a market which is also driving.

this is now the overall perspective. when it comes to our markets where we see the demand for digitalization, we really believe that this is a high-growth market for us. exceptionally high. labor shortage, high salaries in the united states compared to others. if you want to bring manufacturing back, maybe also for other countries, then you need a high level automation digitalization point. ai is driving a demand for electrification. it is picking up your momentum. you see that in the smart infrastructure numbers. this goes on. it is a super cycle. very strong business there. you have one of the strongest players in the united states when it comes to trains and signaling. you see all the high-speed trains for the united states. this goes on. tom: ok.

guy johnson speaking to the siemens ceo after they came out and adjusted in terms of their expectations. the company expanding -- expecting weaker automotive demand for that business. stay with us. this is bloomberg. ♪

>> when market sentiment deteriorates, that can be self reinforcing. people pullback in hiring on spending. in recession. >> the market is wrong about what's going on with the economy. there is some significant evidence of some slowdown in the economy.

the data suggest that we are having a hard landing anytime soon. there is evidence of strength in the economy. tom: bill dudley on the recent market volatility. jp morgan coming out with its assessment in terms of recession risk for the u.s.. moving the estimate up from 25% to 35% by the end of the year on what they say is a weakening labor market. this is also jp morgan who are pricing in and expecting 50 basis points in terms of the first cut in september. here's the context though. jp morgan and goldman sachs coming out with their estimates, moving that higher from 15% to 20% within the year. over five years, this is the forecast of recession risks and recession chances coming through from economists. we are sitting at about 30. we moved lower actually over this time from about six to

percent chances back in 2023 on aggregate. risks have moved lower, down to 30 right now. in the context of what we are hearing from jp morgan and goldman sachs. jobless claims is part of the story. the weakening of the labor market. last week, we saw the highest number since november 2021. the number will be scrutinized given the volatility we've seen around the softening of the labor market. bloomberg economics sees a jobless rate, unemployment rate of 4.5% by the end of the year. currently at 4.3%. they see that moving higher to 5% in 2025. we will be scrutinizing the jobless claims out of the u.s. later today. different story around bitcoin. it was hammered along with other assets on monday. dropped about 10%.

a bit of her spite in the session today around bitcoin and ether on a judge court order asking and ordering them to pay a fine of about 125 million dollars. sounds big. nothing compared to what the securities and exchange for. it is seen as a victory for some in that space versus the sec. relief for bitcoin and ether. coming up, we will speak with mario greco. another big day on earnings. we will get his view on how that come -- company is positioning. the opening trade is up next. they will walk you through the

markets and bring you those crucial conversations on the earnings story. stay with us. this is bloomberg. ♪ ♪♪ ♪♪ relax into a caribbean state of mind. visit sandals.com or call 1-800-sandals.

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>> where an hour away from the opening trade. here's what you need to know. asian