principal asset management actively invested. i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. sonali: this is "bloomberg markets" and i am sonali basak. time for stock of the hour. blue owl hit an all-time high friday. it is one of the largest players in the private credit market. it helped fuel the rally with strong earnings that highlighted asset growth and a dividend increase. blue owl last year formed a partnership with the abu dhabi wealth fund. the moves highlight the growth of the $1.7 trillion private credit market which has more than doubled in size over the past five years. joining us now is marc lipschultz. let's start with the middle east. this is such a highly watched story, the amount of money coming in from the middle east, from abu dhabi in particular. you also announced a recent partnership with a different abu dhabi-based fund. how do you describ

principal asset management actively invested.fter a decade-long effort to build the icar, apple pulling the plug, planning to shift some 2000 employees working on the project into ai and there will also be layoffs. for more, we are joined by ed ludlow. this feels like the end of an era. what does this mean for other ev acres -- makers, tesla, apple cannot get this done why would they be able to? ed: if apple ever got its act together on a car, whatever it looks like, the biggest direct competition would have been with tesla. that is his thesis at least. you look at the apple brand and price point of their electronics and what they might enter on a car. you called this the end of an era. i have reported on this over the last six years or so. the conclusion is apple never really decided what they wanted the car to be. they flip-flopped between this being a robotaxi versus a consumer car and back again. even with almost $200 billion of cash, it does not automatically mean you can put out a new product. katie: the second part of the

principal asset management actively invested.e: taking a look at the price of bitcoin here. it has surpassed the 60,000 mark. no trading at the highest level in the last two years, up 3% so far, in the sunshine today. the dynamics around bitcoin, some of the things pretty well understood at this point, we have the spot-bitcoin etf filings been approved and they started treating. then you have leverage starting to creep back into the market after several years of dry spells. let's bring in our bloomberg crypto and de-fi reporter. i mentioned the spot-bitcoin etfs, there is leverage, but what is of the biggest impact at this point in time? >> thank you for having me today. i think the story of bitcoin can be simply explained by supply and demand issue. we have huge demand coming from bitcoin etfs. on the supply side, i think there is not enough bitcoins available for sale at the moment. i saw the numbers, there is at least 70% of total bitcoin supply has now been moved -- has not been moved over a year, so that is a surprising fact

principal asset management. actively invested. >> this is bloomberg markets. is time for a of the hour. shares of expedia jumped. the analyst expects 2024 revenue to grow percent and show expansion. we will discuss it with the ceo of the group saying he will step down as early as may. when you think about how the stop reacting, how do you tell the story? -- how do you resell the story? >> we have been working on our brands to leave for the future. that is the work i was focused on. the contract is up in april and we felt good time for a transition. if they want to sell us their stock back, we will buy a but we feel good for how we are set up for the new year. >> one thing investors are concerned about is that move from post-pandemic travel spending to a more strapped consumer dealing with inflation again. how much do you believe that revenge spending could subside? >> i think we had robust growth out of the pandemic. a new part of the world would open. the last kind of slow down and now asia will slow down as well. we expect travel growth to be solid. and the

principal asset management actively invested. bloomberg markets and i am sonali basak. it is time for the stock of the hour. snowflake falling after it delivered a disappointing sales forecast and announcing the ceo exiting. for more we are joined by brody. what a start by the issue of the ceo leaving and the vice president of ai taking over. what is the significance of him stepping down and why is it happening at this point? brody: he is one of the most famous software ceos of all time. he is a tough guy. he says things like the ceo has to be insanely confrontational. he has known as a hardcharging sales leader. that has taken three companies public and is a very influential figure in the software community. he felt like it was his time or someone else felt like it was his time to go because i need to double down on ai products. they see him as a sales leader. his replacement is much more of a product visionary and he has known for making google search projects go from one billion to 100 billion. he left that to start nai search

principal asset management. actively invested.w am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com sonali: this is "bloomberg markets." i'm sonali basak. it is time for stock of the hour. that is warner bros.. shares are having the biggest intraday loss since november after reported fourth quarter revenue and profits that fell short of wall street forecasts and declining tv advertisement sales. weakness also in its studios business. felix gillette covers the industry and joins me. let's start with the ad part of the equation. how hard is it for one are brothers discovery to turnaround the trajectory? >> the problem with advertising is t

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principal asset management. actively invested.nd a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. sonali: this is bloomberg markets and i'm sonali basak. we are looking shares of top retail companies after earnings. abigail: it is bit of a mixed bag here. take a look at shake shack, heading to its best day since march of 2020. gaddy is down 15%. as far as what is going right for crocs and shake shack. they had a record year. they exceeded earnings expectations right across the board. as for shake shack, they returned to better profitability but their operating margin was 20% and store growth outlook is pleasing to investors. let's take a look at yeti because demand is cooling for the yeti containers we all use. consumers, the sticker is pretty shocking. you're can i really have to want that high quality and consumers are shunning the higher price. plus, their forecast fell short an

principal asset management. actively invested.ks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh haslinda: it is a pretty mixed picture in asia, the msci asia pac index up only slightly, the hang seng a drag, down about 1%. it's really a china story. cpi and ppi disappointing, deflation concerns persisting, weighing on sentiment in the market. the kospi in positive territory, also the nikkei to 25. an outperformer for the region on the back of pushback from the boj, talking about it is unreasonable to expect continuous rate rises. some of the stocks we're watching, china developers getting a boost after she engine eased home purchasing rules. china fortune land currently up above 4%. other stocks we are watching, china rare-earth stocks are rising after china raised mining quotas in 2024. plenty mo

principal asset management. actively invested. hey, brent! to choose, would you watch paint dry or compare benefits plans? compare benefits. gusto makes it easier to find the right plan for my team. i think i'm going to need new glasses. no problem. you're covered. choose benefits without the mess. >> leah no messy in seemingly the hot after taking part in a football match in japan just days after not appearing at a match in hong kong. the hong kong sports accused messy and the u.s. club in miami for disrespecting fans. along with another popular topic , messi's mess. >> it's an astonishing situation he finds himself in. let's stick with sports and bring in detail. to unpack what was interesting deal last night. espn, fox and warner bros. joining forces, sports focused streaming service. what do you make of that? that is a move. >> it is a bold move by these big media companies. in many ways controlling their own future. control their own destiny as we move to the streaming world. we always know that they have been in charge of content produc

let's discuss this with seema shah at principal asset management. seema, i was in las vegas covering the super bowl and talked to some of the players. one of whom said to me i think the fed chairman is really trying to keep the markets in check. is the fed right now trying to keep everyone from pushing too hard for rate cuts sooner than the fed thinks is possible? >> good morning. i think that is one of the clear messages you hear from fed speakers. expect six or seven rate cuts this year is optimistic. it seems the fed is pushing for that. if the market continues to expect a lot of easing, that means you will see considerable financial conditions easing which increases the risk of inflation pressures picking up. communication is the key part of the fed task. of course, they will watch the data. they are still data dependent. that is why you will see the data continue to be important. >> if consumer prices come in where expected, what do you think then will be the reaction from the fed? >> i think it is in line with what the fed is expecting. it doe

principal asset management. actively invested.d: just a glance at crypto related equity names here. i guess the reason why that is doing that, if bitcoin comes up on your screen, you will understand perfectly why these stocks are flying. pickling up 550 bucks. now 52,003 hundredths on the cryptocurrency. better buy 1%. plenty more ahead. this is bloomberg. ♪ >> very go, looking at the tokyo skyline, the juxtaposition with the economy that slipped into a technical recession late last year and a market that cannot stop rallying, an interesting juxtaposition. 3000 nikkei 225 coming off the highs of the day. here's an interesting tidbit. last time we were at 38,000, the s&p 500 was a 350. 5000 now. it goes to show what can happen if you wait. topics included with the benchmarks, a strong earnings team driving big parts of the equity market which we will get to in a minute and it goes to show the fact that we got the massive leg in the last 16 months over the benchmark itself, corporate improvements and returning money to shareholders

principal asset management. invested. and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com sonali: this is bloomberg markets. it's time for the stock of the hour. there is no bigger story than focusing on nvidia. shares of the most valuable chipmaker sort after their bullish outlook and it is said to break the one-day move for market cap gains. it is up more than $250 billion in market cap on the day. let's discuss this from san francisco. there are a lot of questions about how you value nvidia. how do you start to price this company anymore? >> it is actually in a much more comfortable level that it has been in the last year. when i create a calm sheet, this name stays at the top so it deserves a premium. you look at revenue growth and gross margins, when you look at operating income. looking forward, the expected income for nvidia wi

principal asset management. actively invested.et's get you an update on pakistan's election where vote counting is proceeding slowly with a handful of results called out of 200 65 national assembly seats and prime minister imran khan is claiming what would be a surprise victory. let's bring in our pakistan bureau chief. why has the accounting been so slow, and how is it possible that the party of imran khan is in the lead? >> yes, it has been a surprise for everyone in a very slow surprise. as you mentioned, it has been more than 12 hours now and we have just a handful or half a dozen results from the 206 he five seats that are supposed to be counted. the reason for the delay has been cited as internet problems. as you know, when the counting started, pakistan switched off mobile services. that may be one reason why there has been a delay. you mention imran khan, there has been a very big surprise and we had seen that he was not leading, it was the other candidate, the three-time former prime minister. and the results that we are

principal asset management. actively invested.e: time for social climbers, a look at the stock making waves this morning. first up, rio tinto's profit dropped 12% on weaker commodity prices and rising costs. the company did manage to pay a higher dividend and the company's c.e.o. joined bloomberg earlier today to talk about whether the dividend was too john russ. >> i believe that we are facing an opportunity where the energy transition requires more materials than what we are producing, like aluminum, copper, even more steel as well. so i don't think so. i think we have a controlled growth. that's what our customer needs. that's what the world needs. we can do it in a profitable way. katie: so there you have it, the world's biggest iron ore miner feeling the effects of a disappointing recovery in china. next up, walgreens getting the boot from the dow. amazon will take its place on the blue chip stock bench mark beginning next monday. remember, the dow is weighted based on share price rather than market cap. and finally, planet f

principal asset management. actively invested.'s trepidation in asia as we await the fed minutes. also that nvidia earnings report. waiting to see if lofty valuations are justified. the hang seng index currently up by 2.6%. may 20 a big winner. the kospi down. of course, investors still focusing on the fed, when that first rate cut might be. of course, swaps pricing in a 90 basis point cut versus 150 previously. right now, trepidation. of course, sentiment being guided by the u.s. where we had the nasdaq dropped about 1% and the s&p off that 5000 milestone level. will it get right back? bets are it will. let's get more on markets. the head of apac i share investment strategy at blackrock joins us. good to have you with us. we saw how markets are pretty -- trepidation in the market ahead of nvidia. how much will nvidia's numbers influence sentiment from here? >> good morning. how much will earnings impact the actual pullback? you guys reported on it earlier. the options are pricing in probability of a 10% move. the question i'm ask

principal asset management. actively invested. make money the hard way as a bullfighter or a human cannonball... or save money the easy way, with xfinity mobile. existing customers can get a free line of our most popular unlimited plan for a year! not only will you save hundreds but you'll also be joining millions who have connected to america's most reliable 5g network. sure is a lot safer than becoming a stuntman for money. get a free line of unlimited intro for a year when you buy one unlimited line. plus, get the new samsung galaxy s24 on us. jonathan: the s&p 500 pulling back, down by 0.2%. on the nasdaq down by .2% also. the russell getting closer and closer to 5k at close yesterday. let's talk about the bond market, the 10 year. supply went decent yesterday, $42 billion of 10-year treasuries, a record for a 10-year auction. yields are lower than what we anticipated the 30-year later. $25 billion worth. the yield this morning, 4.3416. lisa: it comes in tandem with the market bringing down inflation expectations longer-term.

principal asset management. actively invested. lisa: welcome back. little bit of a lift markets. classing that line. people still see supply as overwhelming demand. one of the key question than the auto manufacturers. a bumpy road ahead for electric vehicles in particular. >> we think 2024 be a tricky year but 2025, you will see things picking up. that is my view. ev will be dominant. it will be they strong, i think. lisa: warning about a turbulent year had. a drop in market share and softening demand. i am so pleased to say the ceo of stellantis is joining us. is it because of the lack of demand or competition from china? is it because of politics? >> i think it is because of all the things you said. we said it was turbulent. it is now used diminished turbulent situations. economics and geopolitics, geology, competitors, we expect 24 to be quite turbulent and dynamic. stellantis is all about sports. it is in our dna to race. we like turbulence because it is competitive. you can demonstrate that you are better than the other guys. we like to show com

principal asset management. actively invested. ♪ tom: welcome back. this is bloomberg markets.opean bank is raising investor payouts this quarter. santander raising investor payouts as it kicks off a share buyback worth about 1.5 billion euros or $1.6 billion. here to break it down is bloomberg's breaking news editor. give us more details around the buyback and what it tells us about the year they have had. >> basically, they were boosting payouts and that provides for a good read across the sector. we have seen the same from deutsche bank, so definitely it shows you how well they did off the back of higher interest rates and when they released earnings a few weeks back they said they expect revenues and profits to rise further, so this is quite particular as well. in the u.k., we have talked about peking for margins. europe, there is still some way to go. tom: santander stock up 1.3% and record profits last year but that bright outlook as well. a different story when it comes to barclays. there is more detail we're looking for in terms of the longer-term plan for the bank. >>