sonali: then what are you looking for?hat you saw during the pandemic, michael, are you seeing that there is more pressure on the consumer now they can lead to more trouble ahead? michael: the total monetary supplies beginning to tighten. you are seeing the fed respond to the rising rate environment and it results in the matters that you see, but it hasn't impacted employment yet. if you think about the health of the consumer for our business, the most important thing is are they fully employed and right now they are. sonali: you are in a position to grow even in a tough environment. what kind of hiring plan could you have as you see that your rivals are cutting their workforce? michael: we really like our position in the market. you saw earlier this month that we saw that hired engineers and it was one of the better markets for labor right now where we had a strong need to build great products where we were not constrained in terms of opportunity. we are the fastest growing and in the early innings of what our category wi

sonali: one question is around cantor fitzgerald.ne of the biggest underwriters and hiring for spac's. this was supposed to be the new model of taking companies public. with the sec rules the worry is around forward guidance as well as conflict of interest. will the rules change? will there be repercussions around the disclosures? guy: what are the revenue implications? sonali: i just gotten back from milkin where spac sponsors were roaming free and looking for deals. you have had sponsors conceding they have lost money. you have costs associated with having lost the spac and not be able to fulfill that deal. there are a lot of investors who have been doing a lot of spac arbitrage. do investors get their money back quickly? there is some money to be made in the interim as the spac market starts to shake itself out. alix: desai from the spac market, i feel like this is all part of big banks de-risking in general. the moves, -- must be sky high. sonali: great question because the bar is up significantly. the other thing people are talk

sonali: 1:00 p.m., my bed.g of avalanche and the ability to make it through the downmarket, i am wondering as things are cooling down, but do take this time to do? john: take this time to focus. again, the good companies that have a good balance sheet have the ability to gain share and continue to build. instead of thinking about 18 months or 24 months, you want to be frugal and last for 24 to 30 months. the ones with the good balance sheets and good products should go out and innovate and take some share. that is how avalanche is treating this downturn. taylor: such a pleasure. coming up, we're going to end the show on a fun note. going back to the movie theaters, or are we? "dr. strange" topping the box office. is the theater business back? we will debate. this is bloomberg. ♪ taylor: "dr. strange" topped the box office, underscoring the appeal of superhero films. the theater business is struggling to come back. let's get into this with lucas shaw. could this be seen as a bellwether for the way the industry i

sonali basak is here for more.you look at the broader equities picture, what -- we are kind of back where we started. but with bitcoin, still significantly down. why? sonali: it goes around and around. on one hand you have a lot of people saying it is time to put our heads down and make projects that will last long term. where are we? bitcoin over the last week has not risen past 32,000 but it is of $30,000. we are down on the months 16% per the s&p has not moved much. questions moving forward will be about correlation paradigm want to draw attention to ethereum. why? ethereum is also down not just on the month but on the week as well. you have a -- you have seen a divergence between the largest cryptocurrencies. how will they react in relation to each other? reaction to the crypto universe? reaction to the macroenvironment? we have been talking about -- and how they deploy money in this down market. emily: we will hear more on this from police could lead at the bitcoin focus venture firm still mark. we talk about

and our thanks to sonali basak as we continue to watch the stock market.erate, the s&p moving toward session lows after already coming down about 18% from its recent peaks. now down 1.5% intraday. will be watching. we'll be right back. this is bloomberg. ♪ jon: there is a live look at the s&p 500. at session lows right now, down more than 1.5%. and making its way toward an official bear. we came into this trading day down 18%. for what it's worth we wanted to bring you the reducer price index story. we kicked off the day with the inflation reality as we saw those numbers coming in for final demand, up 11%. right now you have a lot of ceos navigating the headwinds. here is some perspective from the chief executive of siemens. >> we see impacts, an eventual impact on q2 coming from lockdown. this is a complete lockdown for five weeks. we will start ramping up again on the manufacturing side, which is good. on the others we have a bottleneck in the supply chain. 30% of the ships waiting to be unloaded are waiting in front of shanghai. that can have an effect

sonali, thank you for this great scoop.ur next guest says the federal reserve is likely to keep tightening. fed speaker -- what does that look like? we are going to find out. we speak to the founder and cio of long-term alpha, joining us next -- longtail, joining us next. ♪ this? this is supersonic wifi from xfinity. it's fast. like, ready-for- major-gig-speeds fast. like riding-a-cheetah fast. isn't that right, girl? whoa! it can connect hundreds of devices at once. [ in unison ] that's powerful. couldn't have said it better myself. and with three times the bandwidth, the gaming never has to end. slaying is our business. and business is good. unbeatable internet from xfinity. made to do anything so you can do anything. guy: an hour into u.s. trading. first -- s&p flirting with 3900. abigail tracking the news. abigail: the day before, a big rally. we had this volatility day today. we have it on intraday basis, this is a chart of the s&p 500 and the futures. overnight, up slightly, then, down more than 1%, almost green, more

sonali: really appreciate taylor: -- taylor: really appreciate it, rishi jaluria.e are going to discuss the latest at twitter. this is bloomberg. ♪ taylor: time now for a bloomberg scoop, the twitter takeover drama continues as executives tell employees that the deal with elon musk is not on hold and is moving forward as planned at the agreed-upon price. joining us once again is our very own ed ludlow. i wanted to discuss our twin z's wedding planning and we had to do the story of the day, according to producers. ed: right. well, there is a lot of talk about. the head lawyer, had a policy at twitter basically stood up to say not only is the deal with elon musk not on hold, but there is no such thing as the deal being put on hold. literally a quote from within the meeting. this has been an area of intense interest. twitter users, fans of elon musk, this was a move by them to reassure twitter employees that this was going to go ahead and that this is what they were working toward. taylor: why the need to even address this? ed: he tweeted that the deal was temporarily

.™ sonali: we are an hour into the u.s. trading session on this fed decision day.od to is tracking the moves. it looks like for the equity and bond market it is sell now. kriti: it is coming off of two days of gains. traditionally before the foc meeting day we do get a risk-off mood, and you see a little bit of green on fed day. the expectation being that fed officials have already indicated the direction they're going. today already seeing some marginal losses. only .3%. this is not something to be frustrated about yet if you are a bowl, but this is something to keep in mind as we talk about what is going on in the yield picture, and what is going on in the oil picture. a 3.5% rise in crude. it has a lot to do with the eu looking to ban oil imports from russia, really ramping up that sanctions package. if this happens $185 oil, that is what is on board. how much of that is baked in? how much of that is going to go out? a lot of the action on the surface level may seem muted when it comes to fed day, but let's talk about underneath the hood. there are some individu

emily: aya kantorovich along with sonali basak. thank you.plans to lead $1 billion in financing for elon musk's twitter bid. this adds to the long list of unusual investors that musk has worked with. coming up, what do drake, lebron james, and bono have in common? they are all backing a home solar energy company. they are all investing in this business. more on that next. this is bloomberg. ♪ emily: it is time now for this week's economics segment and the spotlight is on solar panel energy. only 4% of homes feature solar panels. however, investors from lebron james to arnold schwarzenegger believe that palmetto can turn that around. how have you gotten folks like drake and bono and arnold schwarzenegger on board? >> thank you for having me. these types of investors see what we are working on since 2009, which is climate change and energy independence is a big problem. four palmetto -- for palmetto, we are focused on the tech platform solving for its solar delivery. we lay down three simple steps for you. one is whether it is an and vegetable

solomon told sonali basak what he because extremely punitive inflation is creating a tax on the economya 30% chance of recession in the u.s. over the next 12 to 24 months. bloomberg has learned the u.s. is forcing wall street acts to search more than 100 personal mobile phones carried by top traders and dealmakers, the largest ever investigation into secret messaging on platforms such as whatsapp. the sec will decide who to punish for failing to preserve messages via unapproved platforms. the eu is considering whether to use proceeds russian oligarchs to help rebuild ukraine. the eu will also propose issuing joint debt. ukraine's foreign minister dmytro kuleba told his counterparts that reconstruction bill could reach over $1 trillion. the board of twitter plans to enforce its $44 billion agreement to be bought by len musk. directors voted unanimously to recommend that shareholders approve musk's bid. almost $16 higher than where the stock closed out on tuesday. he board statement came as musk appears to be maneuvering to ditch or renegotiate his offer. global news 24 hours a day. i'm r

sonali: what about the idea that other stable coins can be made?dels you talked about , experimentation. to what extent does the industry need something like an algorithmic stable coin or partial algorithmic stable coin in order to scale? john: the industry does not need it. with going to come out of this is the usdc will gain market share. u.s. dt was tested a little bit, but they need to cannot with -- come out with better transparency. then you have other stable coins that have all held up. it would be nice to have an algorithmic stable coin, but just like any economy, economy needs a unit of account for a medium of exchange that is stable. and not as volatile. for now, maybe one that is tied to the u.s. dollar is the best thing. taylor: we know regulation lags, then it over compensates. does that worry you when you think about a potential regulatory landscape? john: i have been saying this for a while. sensible regulation protecting the consumers were most operators want. especially for companies in the u.s.. if you take a positive out of this,

sonali: david solomon told me he is not overly concerned about inflation.erated that the economists have been a view of a 30% chance but inflation is extremely punitive. that is the wording here. watching forward with any cracks in the credit market moving forward as thing starts to deteriorate more. kriti: we have seen credit spreads widening as well. we thank you. joining us for more on the inflation topic is vincent, the director of global macro strategy. we have a reporter live in our studios, visiting from washington, d.c.. we thank you for visiting. here is a simple question. is the inflation peak in the rearview mirror? vincent: i think that is a big if, given our markets. i would say yes, but it doesn't matter. whether the peak was in april, or march. at the end of the day, the story is the speed of disinflation. especially, compared to what we need to get by the fed in 2023. anyway you look at it, if you break up the index, i don't see how we get to 4.5% by the end of the year which is what the fed would need to cut the rates. so yes, it will slow,