bloomberg. settles ambitious priorities. next, bloombera. settles ambitious priorities. next, bloomberg— bloomberg. g. prime minister, you foresee ukraine joining - bloomberg. prime minister, you foresee ukraine joining nato - bloomberg. prime minister, you i foresee ukraine joining nato within a year— foresee ukraine joining nato within a year ceasefire, and some economists at urging you to raise taxes _ economists at urging you to raise taxes to— economists at urging you to raise taxes to help inflation. | economists at urging you to raise taxes to help inflation. ijust taxes to help inflation. i 'ust want to mi taxes to help inflation. i 'ust want to point out i taxes to help inflation. i 'ust want to point out what i taxes to help inflation. i 'ust want to point out what i've h taxes to help inflation. ijust want to point out what i've said | want to point out what i've said about the nato membership, about what this will represent an significant moment on the genitals membership. that is very clear from today's summit, that people's view of ukraine is that it should be a member of nato. that is

back to respectively, uh current situation, here, uh, you know, i was reading an article here bloomberg bloombergh, whose interests this agency represents, they say china is shooting itself in the foot. they've been trying. we also discussed just now that if they take retaliatory actions against the west , they will lose technology, markets and everything else, and from your words it turns out nothing will be lost like that. i believe that so i believe that e strange west let the genie out of the bottle at one time. they allowed, uh, china to form an industry within itself and look, for about 20 years, we could condescendingly look at the chinese and think that they are developing their industry thanks to cheap labor. maybe once, when this matter concerned, the smelting of the conditionally first cast-iron ingots there, in the yard of every peasant. it was so cheap labor low. there, environmental requirements made it possible to form something from the peasants. there to the first there for business on the industry, but today it is not so today. uh, china is the leader in all technologies. just a

bloomberg radio. you can hear more from the day's newsmakers. we broadcast live from our studio in hong kong. you can listen via the up on bloomberg's or bloombergmberg plus or bloombergradio.com. this is bloomberg. ♪ behind all the regret, disappointment, and years of battling opioid use disorder is the same third-generation firefighter who always answered the call for help. the same guy who saved 15 lives, carrying people out of burning buildings. now in recovery, richard is stil focused on helping people. he's just pulling them out of a different kind of fire. helping them fight opioid use disorder just like he did. shery: sica was much seen as one of the staunchest advocates of blockchain gaming but it is pulling back from an arena devastated whether global crypto industry mental. --global crypto industry meltdown. >> remember sica? after being a rival to nintendo in the 90's it has largely disappeared from investor radars until recently. in april it bought rovio for 776 plan dollars and microsoft at one point considered buying sega to beef up its game pass. now it is looking to web three with a way to generate buzz. i spoke to the head of t

bloomberg. ♪ manus: it is "bloomberg daybreak: europe." saudi arabia has been making headlines for its big spending on sports. bloombergo learned that another football acquisition could be on the way. executive producer greg tanner is following the story and joins us. great to see you. this is about uefa loosening the rules opening the playing field especially for the saudis to pick up more trophies. greg: saudi arabia, their sovereign wealth fund led the takeover of an english premier league club in 2021. a source has now told us that they are potentially looking at buying a clove from another one of the big european club leaks. until recently that had not been on the table. the reason why is because uefa would not allow clubs with the same ownership to compete in the same leaks. within the last week they have allowed one french team and to british teams play in the same tournament and that changes the calculus because they can now own another big team and have them in the same league. manus: we are showing pictures of newcastle. she and her husband got up -- got involved in this trade and it has transformed if you lo

bloomberg radio where you can hear more from the days big newsmakers and get in-depth analysis from the daybreak team. you can listen via the app or bloombergradio.com. this is bloomberg. ♪ >> this is a darwinian theory. you don't adapt to a new world, a world of electrification, world of very strong demand for quality and with a certain number of attributes, if we don't adapt, stellantis is adapting to a new world and we are inviting our suppliers to come with us and learn as fast as we are learning for ourselves by showing them what we are doing. >> stellantis ceo speaking to bloombergit says it has no regrets over its decision to downsize in china. it says their rivals volkswagen and general motors are under pressure in the world's largest auto market as competitors/prices. it shuttered it's only factory in china last year citing meddling by local officials. volkswagen said it is investing $750 million in the company. audi will also deepen ties with a long time partner to boost the ev lineup. bw had been top-selling in china since 2008 when data first became available but now it trails behind byd. a cargo ship carrying nearly 3000 automobiles is on fire off the coast of the netherlands. 3000 cars made by mercedes-benz group. the dutch coast guard is working to contain the blaze. people have one been evacuated including one who died. the ship was on route to egypt. >> look at how commodities are trading. wti rebounding a quarter percent close to the $79 per barrel level after the new york session we saw it fall from the three month high. we had seen u.s. crude stock

> this is "bloomberg technology" with caroline hyde and ed ludlow. ♪ caroline: i'm caroline hyde at world headquarters in new york, ed ludlow is on assignment in sun valley. this is bloomberg a vision. shot on winning over the u.k. on acquisition. threads could add $8 billion per revenue --per year in revenue for the next

bloomberg's lizzy burden. turn into bloomberg's bloomberg radio to get in-depth analysis from the daybreak team there broadcasting our studio in hong kong. much more ahead. this is bloomberg. grand canyon university's rn to bsn online degree program with local in-person clinical hours makes earning your bachelor's in nursing possible from wherever you are! find your purpose at grand canyon university. visit gcu.edu shery: watching intel shares this week after they jumped friday. the chipmaking pioneer declared an end to the pc slump and gave a positive second-half outlook. the intel ceo pat gelsinger said they were looking forward to a new era using pcs using ai technology. pat: on the pc side inventory levels are not healthy. everything we have seen, a lot of the issues we work through, q4, q1, q2 were over inventory levels by the oems and the channel. now everything is healthy. our roadmap is very good. we have gained share multiple times in a row. i think we are now at five out of six quarters where we have gained market share. i say in the pc business, healthy. our position is good and we are looking forward

he may be the worst national retail politician since michael bloomberg. bloomberg were more likable and relatable. he may have cracked the code running against the disney corporation and waging culture wars. he's tone deaf on the national stage. he's sinking like a stone. >> is it correctable? >> i don't think so. ran desantis is stuck with ron desantis. you can't do a personality transplant and recover. >> i want to shift gears to an article that came out this morning that suggested or reported that president biden has a bad temper. old yeller, n's private that hyellat his staff. know this?ow the "f" don't you don't b.s. me. get the "f" out of here. and aides say if biden doesn't yell at you, it could be a sign he doesn't respect you. i ask this in a multiple choice form, also. is this a sign of mistreating his staff? "b" respect for his staff? "c" his age. or "d," an issue that is not an issue. >> two parts. biden has a temper. i don't think he has a temper problem. i wrote about this in my book. one of the first things jen saki said to the president, i won't fee

bloomberg's derek wallbank and bloomberg's markets today managing editor kristine aquino. you can get a roundup of the other top stories you need to get your day going in today's edition of daybreak. leading the page, saudi arabia is considering a push to attract more outside investors to bolster its top football competition. it is part of a strategic revamp that started with an influx of star players from europe. you also have the china pmi numbers we have been talking about. and you have this story that the bank of england may ask banks to upgrade ranches -- upgrade branches. it may be more expensive to have subsidiaries than branches, that will be controversial. all of that and more on today's newsletter which terminal users can find at dayb go. next, the conference in vienna. this is bloomberg. ♪ lizzy: welcome back to bloomberg daybreak: europe. oil is edging lower, erasing short-lived gains after saudi arabia pledged to extend output cuts. we have bloomberg's manus cranny for us in vienna on the ground. as opec gathers, how bad is the global outlook for demand? manus: i'd say it is pretty inauspicious. there is a malevolent cloud and it could chuck it all down on this gathering. there is one thing they cannot control, we are in a global manufacturing slump. you mentioned caixin the lowest since january but manufacturing is taking for the third straight month and pan asia is under pressure. south korea, taiwan, and europe where the minister for the uae warned the government was worry about the recession. pmi's down for 12 straight months below 50. you cannot do much. you cannot put lipstick on a pig. you cannot get global manufacturing off the ground. you can only control the supply into the process. you are looking at benchmarks like the 2-10 inverting giving us malevolen

bloomberg real yield." this is bloomberg. ♪ jon: welcome to "bloomberg markets."ooking at gains pretty decent after a miss on the jobs report. he would have expected stocks to rally a little more but we are up about two thirds of 1%. you also see yields hanging where they were over four on the 10 year and over five and back down a little bit, hanging around that level.

stay with us for the conversation with bloomberg's oliver crook, this is bloomberg. lizzy: good morning, this is "bloombergeak: europe." i'm lizzy burden in london. asian stocks fall as investors reduce risk ahead of the fed rate decision. the s&p 500 is 5% off the all-time high. earnings season is in full swing as alpha new poster revenue beat while microsoft shares cloud sales. lvmh loses revenue from the u.s. european banks in focus as allison rose resigns following a political controversy. deutsche bank posts better than expected fixed sales and trading revenue for the second quarter. our interview with the ceo is coming up, next. welcome to fed day. the 25 basis point hike we are expecting is pretty much nailed on. all is on the press conference tonight and the path for rates. the yield curve is pricing another chance of a 50-50 hike after today's meeting, which raises the question, is this the pricing jay powell wants to see? if you look at the two day chart for u.s. stocks, they were in the green yesterday for a third straight session. you also have asian stocks looking flat at the moment. the s&p 5

bloomberg technology. a digital artist joining -- i hope i did not mispronounce that. he is joining caroline hyde and ed ludlow on "bloomberg technology." coming up on 12:30 p.m. new york time. i hope you enjoyed the show, we will turn over to "bloombergthis is bloomberg. ♪ back in the day, sneaker drops meant getting online to wait in line. now with xfinity mobile... ...we get the fastest mobile service and can get the freshest kicks asap. i got this. save hundreds a year over t-mobile, at&t and verizon with the best price for two lines of unlimited. nice job, little sis! they grow up so fast... i'm a fan. from xfinity. >> from the heart of her innovation, money and power collided in silicon valley and beyond, this is bloomberg technology with caroline hyde and ed ludlow. caroline: i am caroline hyde in new york. ed: i am ed ludlow in san francisco, this is bloomberg technology. caroline: microsoft and activision are nearing the finish line on their

this is bloomberg. ♪ lizzy: welcome back to bloomberg "daybreak: europe." bloombergrned that an advisor to chancellor jeremy hunt are increasingly concerned that the bank of england risk raising rates too much in the coming months. philip, the majority of advisers are concerned about the boe going to forward tightening. does that mean the chancellor is being told that the u.k. is in for a recession? >> it means a recession is certainly more likely. more than had been expected just a few weeks ago. there is no inevitability about it, that doesn't seem to be -- the whole point is they would rather the bank of england stopped before it does cause a recession. the idea we used to talk about before the crisis took off in the u.k., the soft landing, the perfect landing between bringing inflation down and aborting a recession. that is a territory people are now talking about. lizzy: can you foresee a time when the chancellor and prime minister become more critical of the bank of england, especially if inflation doesn't half by the end of the year? >> it's tricky, because th

bloomberg colonists say the headline figures could probably fuel soft landing that -- bloomberg colonists -- columnists say it could be a soft landing. valerie: it depends on what they think the effects of the inflation is now that the economy is slowing down. there is soft data out of germany and the economy is slowing there. the prince today, don't forget we have not just one inflation print but to rounds of inflation print between now and when they meet again. yesterday's data is important but it will not be the be-all and offer what the ecb does in september. lizzy: terms of u.s. data, there is uncertainty about how big, would, distributed american savings are. valerie: pce data today will be important, the fed's favorite measure of inflation, the core pce number with the consumer expenditure data today. i want to know big -- within the gbc -- the gdp data we got a quarterly figure we can back out what the monthly figure is from that. it is likely to comments up-to-date which again is great news -- come in soft today which is great news. the gdp coming in at a huge surprise yesterday and inflation components continue to soften. this is opening the door for a soft landing. besides hawkish surprises from the bank of japan, that would be a gateway for more equity returns. lizzy: thank you valerie tytel. hubley -- she will be with us throughout the program. you can get a roundup of the stories to get your day going in today's edition of daybreak newsletter. today, they lead on the boj and have standard chartered. we will bring you the seal interview off the back of those earnings later in the program. they have a story about saturday's first global mining deal. check out all of that by going to dayb on the bloomberg terminal. you can see we have lots of earnings this morning. today, 11 more companies reporting on the s&p 500, 40 and stoxx 600 and we can bring you those right now. let's start with bbva, the spanish bank. it has reported second-quarter net income of 2.0 3 billion euros, beating estimates. it also got tier one capital ratios of 13%, slightly lower than estimates there. it is buying back up to one billion euros of shares because of this profit jump. yesterday, bbva named the new ceo, a 20 year veteran of the bank. has been caught in the headwinds of the ecb rate cycle drawing to a close and political uncertainty in spain which raises questions about the bank levy there. the shares are up almost 30% year to date. let's stick with spanish banks but move to barcelona because we have bank earnings from caixabank. net income of 1.2 8 billion euros in the second quarter, beating estimates of 1.4 billion. the bank plans to start a new 500 million euro share buyback net interest income also.

bloomberg markets the european close is wrapping up, is bloomberg technology. the loft ceo will be joining caroline hyde and ed ludlow for an exclusive interview. this is bloombergier actions. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. i don't want you to move. i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with the xfinity 10g network. (announcer) enough with the calorie counting, carb cutting, diet fatigue, and stress. just taking one golo release capsule with three balanced meals a day has been clinically proven to repair metabolism, optimize insulin levels, and balance the hormones that make weight loss easy. release works with your body, not against it, so you can put dieting behind you and go live your life. head to golo.com now

bloomberg technology. ed: recap the podcaster ever you get yours, this is bloomberg technology. -- podcast forever you get yours, this is bloombergy. ♪ >> live from bloomberg world headquarters, i'm matt miller. kailey: i'm kailey leinz. a look at the people and transactions. matt: shockwaves after years of controversy, riposte token is deemed not eight security according to a federal judg

bloomberg markets asia. i am hostile and i'm coming to you live from the bloomberg sustainable business on that here in the lion city. >> i am rashaan salaam it in london. asian stocks on the way down. investors looking at the federal reserve. australian bond yields falling. also got a bloomberge. plus, more questions than answers. no explanation for the disappearance of zhang dan. >> here in singapore we are talking all things climate at the bloomberg sustainable summit. happening here in the lion city. we are taking a pulse check on net zero. we saw john kerry make his way to beijing. she looked at how she is hopeful that something more would be coming. perhaps we will see a more progressive card 28. we are taking this opportunity to take a pulse check in here. this is the largest lender in thailand by market cap to get his views on the political situation in the country as they struggle to put a new prime minister in place. take a listen. >> the government will soon be formed so it is good that it will be sustainable. >> a key take away from the system -- sustainability summit is this is optimistic but when you look at the markets, not too great. quite the promise of stimulus coming out of there. they said they had the right things to do but they are just not doing them ju

bloomberg su keenan there, you can tune into bloomberg radio to hear more from the day's big newsmakers and get in-depth analysis from our team. art daybreak team is broadcasting live from our studio in hong kong, you can listen on the app bloomberguch more ahead, this is bloomberg. ♪ >> singapore's state owned investor says they warn of an uncertain road ahead after posting its worst total shareholder return in seven years. at the firm also had a rare net loss. cio spoke to bloomberg about their performance. >> the net loss number is a bit of a misleading number because it refers to a new accounting standard that marks to market sub 20% investments, it takes -- so it is an accounting profit number. we don't measure ourselves by it, i we think -- we have always said the right measure for us as our portfolio value and i think that is what we focus on. >> you have maintained your holdings in china 22% of your holdings in total, what have you been buying? >> the areas we are looking at in china are twofold. one that are driven by domestic consumption. china for china. secondly there are areas which china has unique advantages on. for example electric vehicles, batteries, solar, wind, the sustainability supply chain. then there are o

bloomberg's mliv strategist mark cranfield. let's get a snapshot of what else is on the agenda. the central bank of australia holds rates. we will take a look at that in market moves. this is bloomberg. ♪ yousef: welcome back to "bloombergbreak: europe." let's take a look at crypto assets. we are seeing quite a bit of resilience in bitcoin and etherium. bitcoin at $31,000. it was a lot news flow coming through the prices of nfts baird they collapsed over the last week as prices of major collections tumble. according to the crypto data platform parsec, floor price for a suzuki collection dropped last week and the board eight yacht club and mutant eight yacht club and pudgy penguins have dropped. on the other hand you had blackrock which refiled paperwork for u.s. regulators to add new details to his proposal for an exchange traded fund that invested directly in bitcoin. documents filed the nasdaq indicate that coinbase global will provide market surveillance in support of the proposed etf for the world's largest asset manager. fidelity and invesco are among those who applied for a spot bitcoin etf. france has seen relative calm on this six night a protest over the fatal police shooting of a police made fewer than 160 arr

this is bloomberg. ♪ lizzy: welcome back to "bloomberg daybreak: europe". joining me now is bloomberg'snzie with a look at what's coming up on his show, markets today. tom: we start with his big called by j.p. morgan on the risks of 7% in terms of rates for the u.k. and a hard landing. we will talk to the cohead of investments at ccla on that call. but also unpack some of her views on which sector she is positioning in. also interesting to get her views on ai. she has a view on technology broadly, she doesn't necessarily think it is overrun. she will get her views on how to play the ai theme because she has got interesting insights. lizzy: it is important to say this is not j.p. morgan's base case, but it is interesting that the idea is floating around in a note from a mainstream bank. tom: it makes people nervous. lizzy: your a star of social media. you have this battle between giants of social media. ,: threads coming out today. not in the european union for now. this is another brexit dividend arguably. in the u.k., we can access it. but it is that prospect of zuck against elon musk.

this is bloomberg. ♪ this is bloomberg. ♪ mortar, "daybreak asia". -- more to come on "daybreak asia". this is bloombergity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. haidi: and she says many policymakers and corporate executives are being willfully anger and warming. they spoke exclusively about how china is shaping up as a leader in the greener energy transition despite the economic worries. brexit chinese government is facing really serious headwinds that have excellent climate scientist. we know the ball personally, we work with them personally, they are predicting likely are that the world is in global warming now. and that everyone must move. that their own government must take solid steps, really measurable fiscal steps to keep their economy going because the negative view on the climate is happening hard to the chinese economy. i think they can

bloomberg markets. coming up, citroen research founder andrew left will be joining bloomberg in an exclusive interview at 3:30 p.m. new york time. this is bloombergor wall street beat where we look at what is buzzing in the world of banking and finance. joining us is sonali basak. london bank bonuses, this will hurt everyone's bonus pool. what is the comparison from last year? sonali: this is the 2022 associates compensation. everyone was down across every level of the board. ironically, after those younger bankers had crossed for more pay and pay had risen just before. 2020 in new york as well, there was also a more than 20% drop industry wide off of a boom year in 2021 and a lot of activity in 2020. what does this year look like? there are a lot of complications from london to new york, headcount reductions, severance packages. still suppressed dealmaking from the last couple of years. this sets you up for the lower base last year from london to new york, but what does it mean for this year in terms of attentional increases as you are just starting to see a bit of activity come back. guy: if activity starts to pick up, are they staffed for it?

bloomberg functions we talk about. plus, become part of the conversation by sending instant messages during the show. this is for bloomberg subscribers only. check it out at tv . this is bloombergthis is 76% of 23andme health customers surveyed reported taking healthier actions. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. >> new zealand signed a free-trade agreement with the european union which brussels says will increase its exports thereby almost $5 billion a year. paul allen has more. key features of the deal. did new zealand get everything they wanted? paul: you never get everything you want in these sorts of deals but they got close. there was a little disappointment around land. economists said despite not getting exactly what they wanted, still a very good deal. good progress was made. about 150 $3 million of tariffs were cut per year. there will be terrorist free access for new zealand wine, apples, honey and other products as well. for the eu tariffs have been removed and there is protection for over 2000 products with geographical or general's around them

bloomberg. ♪ katie: this is bloomberg real yield. time for the final spread, the week ahead coming up with lots more earnings on tap next week including bank of america and morgan stanley on tuesday, goldman sachs, tesla and netflix tuesday in regional banks including truest thursday. and we will get another round of jobless claims plus existing home sales. it's going to be earnings that will be important to watch after the financials, we get many interesting groups including airlines, some social media, tech and then we move on to some of the energy names. it will be a 10 day blitz and we will take you through it. from new york, that does it for us. same time, same place next week, this is bloombergl yield and this is bloomberg. ♪ bridgett is here. she has no clue that i'm here. she has no clue who's in the helmet. are you ready? -i'm ready! alright. xfinity rewards creates experiences big and small, and once-in-a-lifetime. is it possible to protect my business from cyber threats? it is, with comcast business. helping every connected device stay protected. yours. your employees'. even... susan? -hers, too. safe. secure. and powered by the next generation 10g network. with comcast business, advanced security isn't just possible. it's happening. get started with fast speeds and advanced security for $39 a month for 12 months with no annual contract. plus ask how to get up to a $500 prepaid card with a qualifying gig bundle. ♪ jon: welcome to bloomberg markets. matt: let's get a quick check on the markets right now. a little bit of a reversal on this friday in terms of the treasury trade. you have very little movement on the s&p 500. we are still over 4500 on the benchmark index. yo

bloomberg. come up -- coming up, runway securing funding from big names in the world attack. we will sit down for an exclusive conversation with the ceo this is bloomberg. ♪ this is bloomberg. ♪his is bloomberg. ♪ - i just got the new job! - oh my god, i'm so excited for you! - [narrator] if you are ready to advance your career, southern new hampshire university can help you get there. - [tanzania] southern new hampshire university has changed my life tremendously. i went from thinking college wasn't for me, to graduating, to getting the job. - [narrator] with over 200 career-focused programs, snhu can help move your career forward. - [tanzania] i have my degree and it's something that no one can ever take away from me. - [narrator] reach your career goals at snhu.edu. caroline: ai startup runway, whose software can create a few -- a video from a few short words raised funding from google, nvidia, and other investors. joining us is the ceo of runway, cris valenzuela. 141 million dollars is an extension of your series c. was this inbound interest coming from these big players? cris: thank you for having me. we have been working on runway for five years so excited to be partner

bloomberg. ♪ amber: this is bloomberg markets. i am amber kanwar with matt miller. time for stock at the hour. netflix results are after the bell. bloomberg looking to see how their recent crackdown on password sharing is going and how the hollywood strike and actors strike are affecting the business. matt: joining us for a closer look is bloomberg's simone foxman. she has been looking all over netflix for us. it is about the crackdown on password sharing. simone: of course, we will be looking for commentary about the actors strike. it is really a simple discussion. it is about growing the subscriber base and charging them as much money as you can without getting them to stop subscribing to netflix. expectations in terms of ads on a subscriber bases are some like 2 million. there is a sense generally that netflix has turned it around and found a way to keep subscribers coming. we also got news earlier about an ad plan. an elimination of the cheapest ad plan that was 999 -- was nine marseille nine cents and was ad free but hat -- $9.99. so either you pay for good stuff at $15.50 where you play -- pay for the ads. amber: how should we react

bloomberg of the bloomberg anywhere app. you can customize your settings so you only get stories on the assets in the industries you care about. this is bloombergharnessing data-driven insights and boundless curiosity. we dissect the market from every angle. helping to build portfolios that redefine what's possible. ♪ because investing isn't one size fits all. ♪ allspring. purposefully divergent. haidi: let's get you some other the stories were watching today. pakistan has won final approval to borrow $3 billion from the imf. the find's executive board approved a nine-month standby arrangement to support the country's economic stabilization program. the move allows for an immediate disbursement of about $1.2 billion after months of delay. canada's central bank has raised rates for the second method o'rourke, pushing the benchmark rate to its highest. the bank is prepared to hike rates further to get inflation under control. officials expect inflation will gradually decline to the 2% rate in mid-2025, two quarters later than previous projections. china's state pension fund is said to be cutting its exposure to bonds from week local government fi

bloomberg daybreak: asia." this is bloomberg. ♪ haidi: you're watching "bloomberg daybreak: asia." t for blue groceries. the prime minister sanchez has denied his right wing opponents a majority in parliament. the party declared victory and won the most seats, the right wing bloc has only 170 seats in total and needed 176 to oust the socialist. spain could face another election later in the year. thailand's biggest party has will not joining any coalition that includes the pro-democracy move forward party. the leader says he has conveyed the message to the party, and the second biggest winner in may's elections after move forward. shery: we are watching the philippine president delivered to second state of the nation address. ferdinand marcos, jr. says he plans to announce a performance report and lay down his priorities for the coming months. let's bring in our correspondent. what are the key challenges the president now faces going into his next year? >> i should mention president marcos is expected to deliver his second speech to congress today at 4:00 p.m. inflation is top of mi

bloomberg's ed ludlow. you can catch him and caroline hyde on bloomberg technology in about 90 minutes time. coming up you get the ceos take on the strength of the economy. jennifer rumsey ceo and president of the energy manufacturer cummins is coming up next on bloomberg is bloomberg. ♪ somebody would ask her something and she would just walk right past them. she didn't know they were talking to her. i just could not hear. i was hesitant to get the hearing aids because of my short hair. but nobody even sees them. our nearly invisible hearing aids are just one reason we've been the brand leader for over 75 years. when i finally could hear for the first time, i started crying. i could hear everything. call 1-800-miracle and schedule your free hearing evaluation today. i don't want you to move. call 1-800-miracle i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with the xfinity 10g network. hi, i'm jason and i've lost 202 pounds on golo. so

bloomberg television. i'm matt miller, for jon erlichman, this is bloomberg. ♪ 5-hour energy. think of it as 5-second coffee. for when you wake up too late to make it. or you don't have time to wait in line for it. or you're just too busy for a coffee break. 5-hour energy. the 5-second coffee. is it possible to protect my business from cyber threats? 5-hour energy. it is, with comcast business. helping every connected device stay protected. yours. your employees'. even... susan? -hers, too. safe. secure. and powered by the next generation 10g network. with comcast business, advanced security isn't just possible. it's happening. get started with fast speeds and advanced security for $39 a month for 12 months with no annual contract. plus ask how to get up to a $500 prepaid card with a qualifying gig bundle. >> this is bloomberge. romaine bostick is off for the day. we are awaiting the rightists -- latest release of the fomc minutes. let's get to michael mckee who is standing by at the federal reserve. mike: these minutes may raise more questions about where the fed was three weeks ago than they answer. while the decision to leave rates unchanged was unanimous, during the discussion the committee was divided. quote some participants indicated they favored raising the target range for the federal funds rate 25 basis points at this meeting, the minutes say, or that

bloomberg. ♪ lizzy: ["bloomberg daybreak: europe". jp morgan and goldman sachs are leading a group of banks backing a purchase of worldpay. they are lining up $9.4 billion of debt in what would be the largest buyout financing in over a year. gtcr will acquire a 55% stake. the deal would value the company at over 18 billion dollars. bloomberg that the owner of sandal maker birkenstock is weighing an ipo that could be valued at more than $6 billion. the lvmh-backed firm is said to be working with advisors such as goldman sachs on a potential u.s. listing. i want to talk more about both of those deals because even though we have news from worldpay and birkenstock, more broadly it has been a slow year with the backdrop of high inflation and rapidly rising interest rates. many companies are looking at portfolios and trying to simple fiber structure, raise capital, -- simplify their structure, raise capital and reduce debt. manuel, great to have you with me on a friday to talk about the deals of the week. let's talk about what could potentially be the biggest buyout financing since twitter last year, worldpay. >> definitely, lizzy, thank you for having me on the show. a very slow year for m&a and ipo's in europe. we have been busy the last couple of weeks, particularly some of the deals you mentioned are really exciting. also b

bloomberg technology. this is bloomberg. ♪ - we're taking the family to cancun. - i'm off to iceland. - my husband and i are going to paris. - how are we getting there? - with going. - just sign up for free, and going finds amazing flight deals. - to places we've always wanted to see. - and some i never thought possible. - with going, i get really, really good flight deals all over the world. - anytime, like now. kids, time to go! - where are you going? sign up for free at going.com. >> this is bloomberghyde and ed ludlow. caroline: i am caroline hyde. ed: this is bloomberg technology. caroline: the ai hyper cycle is helping a company -- helping tsmc, but can it support the second half? caroline: microsoft takeover of blizzard,

bloomberg. ♪ manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com welcome caroline: back to caroline: "bloomberg technology -- caroline: welcome back to "bloomberghnology." we are in wait and see mode here on the macro picture for cpi tomorrow. will we see that july fed rate hike bake in where we start to question where september goes? but for now things have been on the relative upswing. the euro did well. a little bit more risk appetite in europe and asia. a bit of a selloff in the bond market showing that maybe you are not seeking the safety of the day after you came down. 4.88 is where the yield came down. moving on to have a look at the world of individual movers, amazon, all eyes are on prime day. microsoft is off for tents of 1%. they might be putting that money to work for that deal for activision blizzard, soaring 11% as the u.s. court seems to get blessing to not holding up the overall culmination of the deal that is meant to of course be finalized july the 18th. all eyeing u.k. legislature with the competition market authority there as to whether they will see the changes being done overall by microsoft to think that competition will

bloomberg. except bloomberg was more likable and relate-able.cked the code in florida, running against the disney corporations and avoid jiang culture wars. but he clearly justice tone-deaf on the national stage. he is out of his death. and that's why he's been sinking like a stone. >> there's a correctable though? >> i think ron desantis is stuck with what desantis. and i don't think that you can do a personality transplant and somehow recover. >> a long time ago. i will say that. i want to shift gears with an article that came out in axios this morning that suggested and reported that president biden has a bad temper. ok at, that old yell, or private very was the article. and here's a quote from it. he yells at his staff and the presidents admirations include, god damage, how the f-don't to know that don't bs me. and they say, if biden doesn't yell at you it could be a sign that he doesn't respect. do now i should note that christy quoted, this but i'm going to ask this. also is biden's temper a sign of a, mistreating his staff, the respect fo

this is bloomberg. ♪ >> this is bloomberg markets today.wards with stephen carol. >> here are your top headlines. markets go risk on. the fed is near the end

understand the fact, the president said that there are good results in the south, okay, and bloomberg also wrote bloombergnishin tais wrote about the fact that there is a new impulse of the ukrainian simply , okay, well, the russian so-called warriors are shouting, it suits us, i think that here begins the period when it will be necessary to monitor the speed well, everything speed is very good, mr. viktor , in fact, once again, we understand that if the general staff says that they have been fired, and at this moment, maybe they even carry out stabilization actions in stariy york, do they check the houses? somewhere there happens to be some occupier who didn’t stay and didn’t lurk uh-uh, that means that actually uh-uh all these events happened a little earlier so it’s really ukrainian our controlled by ukraine under the control of ukraine populated area uh about and a little more even yes there is videos have already appeared. well, in telegram, different channels are publishing about the fact that ours reached the so-called line of soroviyka, this is staro majorskoye and these are the villages that were

bloomberg. ♪ jon: this is bloomberg markets, i'm jon erlichman with matt miller. time for today's for what it's worth. given that it is prime day, how about we talk about the deflationary forces in the air. if you are looking for deals, we are looking at 2.6%. that is how much prices for goods purchased online declined in the u.s. last month. the biggest drop since may of 2020. the 10th straight month according to adobe, with a year-over-year decline. matt: let's continue to talk about inflation or the lack thereof. fewer small businesses in the u.s. are raising prices. new data shows price hikes in june their lowest level since march of 2021. molly smith, bloombergeporter is here with details. it does not look like in terms of small businesses we are seeing as many price hikes as we had in the last year. >> that's right. you see this in the last year, inflation has been coming down more so in the headline measure. but when used about the food and energy categories, the fed is probably going to think it is still too strong and why we are still going to have a rate hike at this month's meeting. jon: i feel like with the data you are crunching, on the one hand, any signs of deflation might be encouraging but you are also monitoring consumer spending doubles. what are we seeing their? molly: sure. i'm hopeful for the soft landing story. it is what we all want. let's hope that it shows. maybe the jobs report would support that as well. this is what we are seeing. the economy is slowing according to several measures, just maybe not at the pace that the fed would have expected. rates have been going up or over a year and it is still taking all of this

bloomberg. ♪ haidi: bloomberg intelligence says tech etf's could total 300 billion dollars globally by the end of 2023, due to a surge in nvidia shares which underlines investors' growing interest in aa. it's been utter exuberance when you look at how much nvidia has rallied year-to-date. what does that speak of in terms of the longer-term potential for ai and for etfs? rebecca: if we set the landscape for you, when do you think the first it ietf was launched? take a guess. shery: we have been focusing so much fun and video was it so much earlier than what we're thinking at this point? rebecca: so the first it ietf was actually launched in 2006 by wisdom tree. long before the ai boom. everyone thinks of nvidia and because of that, they have been jumping on the ai bandwagon, but it ietf had been around for quite some time. the largest etf, take a guess. [laughter] shery: go ahead, tell us. rebecca: blackrock, usually for etf issuance, if you guessed blackrock or state street, you are pretty safe. blackrock has the largest it ietf, a robotics etf. it was launched in 2016. they have roughly 3.5 billion in assets. it has been a growth from 2006 when the first etf launched, to now. we are seeing a huge interest. the market for ai, rai analyst mandeep singh suggests they could reach over a trillion dollars. goldman sachs give it a more aggressive target of $7 trillion in the next decade. we are seeing huge interest, tons of influence. in the tech sector we are predicting that more than $300 billion in assets will be reached by year and. so for ai-specific etfs, in the past week, we have seen more than $3 billion in assets go into the space. shery: our bloombergecca sin there with the latest. thank you so much. take a look at how crypto is trading. bitcoin above the $31,000 level. there is a lot of optimism, given the renewed interest in ets that could invest directly into the digital currency. we are seeing it near year highs. that's it for "daybreak: australia." "daybreak: asia" is next. this is bloomberg. ♪ when people come, they say they've tried lots of diets, nothing's worked or they've lost the same 10, 20, 50 pounds over and over again. they need a real solution. i've always fought with 5-10 pounds all the time. eating all these different things and nothing's ever working. i've done the diets, all the diets. before golo, i was barely eating but the weight wasn't going anywhere. the secret to losing weight and keeping it off is managing insulin and glucose. golo takes a systematic approach to eating that focuses on optimizing insulin levels. we tackle the cause of weight gain, not just the symptom. when you have good metabolic health,

bloomberg radio to hear more from the day's newsmakers. you can get more analysis from our "daybreak" team broadcasting live from our studio in hong kong. listen now on bloomberg radio plus or on bloomberg.com. plenty more ahead. this is bloomberg surroundings... but everyone's looking at their phones for financial insights from merrill. is he hailing a ride to the concert hall? no. he's making sure his portfolio and retirement plans work in harmony. they want to adopt a child and build a new home. so they're talking numbers with their merrill adviser. she's not researching her next role. she's learning how to handle market ups and downs without the drama. personalized advice so impressive your money never stops working for you with merrill. a bank of america company. shery: this chairman is a bargain-hunting investor, says he sees opportunities in the commercial property slump. the billionaire told bloomberg that the real estate sector is in a category 5 storm. >> anything with a fixed income stream is worth less when rates rise. it's an interesting situation because the rise in rates, usually realistic is the culprit, we often cause calamities in the economy. banks get overzealous. that in this case, really we were an acciden

bloomberg. ♪ dani: welcome back to "bloomberg daybreak: europe." the yuan is moving higher after china stepped up its support to the currency. let's get to mark renfield, bloombergliv strategist. some solid strength from the renminbi this morning, what do you make of the timing? mark: the china central bank were aggressive today. in a way you can see why they chose today to do it because for the past week they have been trying to set dollar you one below 7.15, and overnight trading. the first thing this morning in asia come on dollar you want on the offshore market was 800 pips away from yesterday. that is far too much from the central bank point of view. they were left with how aggressive they want to be. this time around they set the difference between what traders were expecting, and where they actually said it, more than 600 pips, the biggest move this year. people are starting to think about last october and november when they were doing similar big moves to make sure people understood the yuan should not be we can further. then it started to turn around and each of the other currencies with it. we sell the dollar we can across the board. also what played i

bloomberg technology. you can find us online. from new york, this is bloomberg technology. ♪ >> welcome to bloomberg markets. the check with what is going on in markets. rallying again, s&p 500 gaining .6% at 4500 even per year nasdaq 100 up more than 1% after the ppi data we got this morning brought the word disinflation back to our vocabulary. that is good news if you do not want the fed to hike too much. 10 year yield coming down about 10 basis points. two year yield coming down more. the short end of the curve more sensitive to fed expectations. the bloomberg dollar index down about 25% but the fifth consecutive day at a clients for the dollar index. losing

bloomberg generals and they -- there is not automatic -- problematic information of someone pretending to be a bloomberg journalist so we don't know how this will work stuff if it was tied to a instagram account, it would be paid to play. guy: bloomberg'sa look at the fourth of july. this is bloomberg. ♪ the first time you connected your godaddy website 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 back in the day, sneaker drops meant getting online to wait in line. (we did it) now with xfinity mobile... ...we get the fastest mobile service and can get the freshest kicks asap. i got this. save hundreds a year over t-mobile, at&t and verizon with the best price for two lines of unlimited. nice job, little sis! they grow up so fast... i'm a fan. from xfinity. hi, i'm jason and i've lost 202 pounds on golo. so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, a

bloomberg. ♪ dani: china's flagging economic growth has caught australia's attention. chalmers full bloomberg that inflation remains a defining challenge. >> china is a big piece of the puzzle. when the data out of china is software, that is concerning. we haven't revised our forecasts for our economy, but we're monitoring developments in china very closely. dani: for more on the g20 and the conversations, we're joined by menaka doshi at the meeting in india. how much is inflation and the weak chinese economic picture dominating the conversations? menaka: it definitely is the centerpiece of where the global economy is heading. you mentioned china. we heard that comment. the tepid recovery in the chinese economy is causing concern in terms of potential impact across the global economy. yesterday we heard on bloombergu.s. treasury secretary janet yellen, also speak about the same issue, while saying she did not expect it to prompt recession in the u.s. china at the center of many issues here, including the debt resolution issue that g20 member countries are discussing and hoping to find progress on. china took a while to come to the negotiating table when it came to the debt restructuring program for zambia. there is hope that a similar program could be adopted for other countries if china were willing. china is a participant in both the headlines into the newsmaking at the g20 and held a bilateral conversation with india earlier this morning, we're awaiting news from what occurred there. dani: there seems to be a lot of excitement that the inflationary regime is turning to update. you look at what happened in the u.s. last week with all of the data coming in, and also about energy prices, is there more confidence that that inflation is being reined in? menaka: in many parts of the world there is m

bloomberg. >> this is bloomberg markets. coming up, very sternly. -- barry sternlicht. this is bloomberg. atlanta braves is now officially the only major league baseball team that is publicly traded. admitted state you last week, shares down about 9.9%. the team completed a spinoff from liberty media -- creating two separate companies. joining us now is derek schiller, the atlanta braves president and ceo, live from the nasdaq where he rang the opening bell this morning. thank you so much for joining us. congratulations on ringing the bell and the public debut. are you happy with the reception you've received from public markets? >> oh, yes. first of all, this experience that we have this morning, we don't get this. this is just been really fun and it shows us yet another dynamic to what it is to be a public team. we are excited about it, excited about what it represents for us. we are going to continue to operate our business in the best way we know how. >> it is certainly a new frontier, obviously very early days at this point. but have you heard from any of your other peers of other tee

bloomberg subscribers go to dayb on your terminals, also available in the mobile on your bloomberg app. customize the settings so you only get news on the industries and assets that you care about. this is bloombergg extreme weather around the world, korean officials say 39 people have been killed in flooding and landslides. let's get more details in seoul. al that is the situation right now? >> sure, among the 39 dead people 13 were forming in a northern province, and we saw about 15 vehicles including a bus were trapped in an underground pass, and when i saw the video clip by local residents, they are showing the tunnel was quickly flooded after a nearby river overflowed, and rescuers are still working on finding bodies. they are looking for more bodies and also using equipment and pulling up vehicles in the pass. haidi: what is been the government's reaction so far? >> the south korean prime minister is in a meeting. he organized rescue activities. we did not have news on friday and saturday because yoon just returned to the country after the nato summit, so the point is officials already issued a lot of warnings before the flooding, because in recent years south korea is different summer mont

bloomberg. ♪ haidi: bloomberg has learned that the cfo is planning to leave the company. he has informed the ceo of his intention to move on, though the decision on timing has not yet been made. the company went public in 2019. uber said he would not comment on and executives career decisions. shares in icahn enterprises have jumped their highest since may after its restructured loans. the stock had fallen by more than half in may after a hindenburg report said the company was overleveraged. warren buffett has taken control of the liquefied natural gas export project in maryland. it has agreed to by dominions energy stake, boosting its limited partnership ownership to 75%. the deal gives berkshire control of one of just seven operational lng plants in the united states. this is bloombergoved out of the city so our little sophie could appreciate nature. but then he got us t-mobile home internet. i was just trying to improve our signal, so some of the trees had to go. i might've taken it a step too far. (chainsaw revs) (tree crashes) (chainsaw continues) (daughter screams) let's pretend for a second that you didn't let down your entire family. what would that reality look like? well i guess i would've gotten us xfinity... and we'd have a better view. do you need mulch? what, we have a ton of mulch. f some of the top stories we are following. the kremlin says russian president vladimir putin met with bob merely to you jenny promotion. -- wagner leader promotion. the meeting raises fresh questions about the revolt. china has issued an unusual warning to its citizens traveling to the united states to be aware of entrapment. it characterizes the actions based on fentanyl issues. deadly flooding swept through the lower hudson valley. more rain is forecasted as a weather fron

bloomberg subscribers go to dayb . this is bloomberg. ♪ >> look at how futures are coming online. we are washing killing of a teenager here. my omicron says some 45,000 security officers will remain on duty to contain clashes that have left hundreds of public buildings and shops damaged or ransacked. this would damage at more than 100 million euros. we have more ahead. this is bloombergre. she has no clue that i'm here. she has no clue who's in the helmet. are you ready? -i'm ready! alright. xfinity rewards creates experiences big and small, and once-in-a-lifetime. is it possible to protect my business from cyber threats? it is, with comcast business. helping every connected device stay protected. yours. your employees'. even... susan? -hers, too. safe. secure. and powered by the next generation 10g network. with comcast business, advanced security isn't just possible. it's happening. get started with fast speeds and advanced security for $39 a month for 12 months with no annual contract. plus ask how to get up to a $500 prepaid card with a qualifying gig bundle. >> this is daybreak asia. we are half an hour into the session for japan, korea, you can see we are being led by those moves in the tech sector. we had tesla second-quarter delivery numbers on saturday. apple getting on friday. the result of the latest market survey out of this week really taking a look at t

bloomberg. this is bloomberg. ♪ welcome to the their medicare options leat before they're on medicare. come on in. you're turning 65 soon? yep. and you're retiring at 67? that's the plan! well, you've come to the right place. now's the time to plan ahead. learn about an aarp medicare supplement insurance plan from unitedhealthcare... and how a plan like this helps you take charge of your health care with lower out-of-pocket costs. here's why... medicare alone doesn't pay for everything. >> a football coach who changes his team every game and or formations twice in a game. that's not necessarily a bad thing. i think to say that you're unpredictable, yeah, the market says he's pretty clear in his communications. kailey: that was kit juckes speaking earlier. the b.o.j.'s move overnight. was it a tweak or a tide change? joining us now is kristen macleod, barclays co-head of america's macro distribution. so kristen, what do you think? what exactly did the b.o.j. do here? kristen: there's little that this is the first step for policy normalization. by most measures, the communication that we've heard from the b.o.j. from sources, from officials over the past months has been stubbornly dolphish. we had that article out suggesting if there was no change this week. so when the headlines hit yesterday, this obviously caught the market by surprise. and i think the price action that you're seeing both overnight and today is again, emblematic of that. a lot of that was this premium and the market had priced the currency leading into the event. kailey: why not continue on with the strength at the end? kristen: i think they've been pretty clear that they don't want to see this type of volatility in the market and they don't want to nonetheless that kind of dramatic move. when you think about the way the currency has traded so far this year, any time we traded upwards that 145 level in dollar yen in particular, there there's was a lot of pushback on the volatility of the currency. the way that they ruled out this announcement was with that goal that they can make the slight adjustment now and that kind of eases the path for future policy change. kailey: ok so much when we're talking about the path for future policy change, how far away realistically are we from that moment, kristen? toward normal or the start of normal accusation? kristen: so at this point, our call is looking for a complete scrap of ycc at the october meeting. that is a fairly far point away from actually taking rates into positive territory. they abandoned ycc at the october meeting. they take rates to zero in april of next year and then they start hike, at that point. dani: i'm getting some serious whiplash but not just from the yen but from the euro. i was ready and prematurely to declare the death of the strength of the euro but it's stronger today by more than 1%. what do you make of that type of volatile price action on the week of the ecb? kristen: it's been a really interesting week for the currency. it was this perfect storm. you were coming off of a more hawkish fed on wednesday. you came into a clearly more dubbish message on thursday. while they're leaving the door open, our hike was this is the last hike of the cycle and then you had this announcement and the confirmation of the ycc tweak from the b.o.j. so i think, you know, when you think about the you're and the future path -- euro and the reality is the economy has been weaker. the risk of recession are increasing and we said for a long time for the euro to move, you need to see a sustained pickup or you would need to see a large reallocation out of u.s. assets into european assets. kailey: i just wonder on the dollar part of that equation, given as you're talk about the deterioration in european data with the gdp print we saw yesterday with what we're seeing in personal spending as inflation cools, what does that mean for the dollar if all the signs seem to be pointing to a soft landing in the u.s.? kristen: the u.s. economy continues to go from strength to strength. and when you lack the activity data over the last handful of weeks and months, it continues to surprise to the outside. obviously powell leaned hawkish this week he was very deliberate to not say anything that would would allow the market to interpret as dublish and he's still leading the door open for another hike. and i think powell is very deliberate in his words around this when he said the committee will review potential cuts a full year from now. the dollar was under pressure. it was it was right after that softer cpi print and i made the argument that the market was too quick to extrapolate this trend. and i think powell acknowledged exactly that at the meeting this week. so while the dollar is probably, you know, close to its peak as we're nearing peak fed, this narrative around a broader dollar demise is premature as well. dani: how do we get to 113 on the year? that's a small move from where we're at, but if europe is starting to look weaker, maybe the fed has more juice. what's the trajectory look like? kristen: it is obviously a lot of focus on china right now. and again, a big reason of why europe hasn't hit some of its growth projections that we were talking about earlier in the year is because that reopening story was weaker and disappointing to the market. i think a lot of that is priced in at this point and if you do get surprise in stimulus or surprise on policy support out of china, that could certainly reignite some of the global growth outlook and be beneficial for the you're. dani: kristen, thank you for joining. kristen macleod, barclays co-head of global fx draft picks and head of me, macro distribution. kailey: still ahead, intel surges after p.c. recovery delivers a surprise profit. we'll have details in the start-up next. this is bloomberg♪ kailey: it is 22 past 7:00 on the west coast. let's get to the start-up where we cover the top tech stories as silicon valley starts its morning. joining us now is ed glad low. what a morning it is for intel. up about 5%. the p.c. slumped over. it's done? ed: they declared it. we'll show you that modestly ahead that the sell side was forecasting. but the story is that the inventories that p.c. makers were working through, that's complete and they're now starting to order chips. i love earnings season because the c.e.o. of intel did say last quarter, the quarter before that they saw improvement into the second half of this year. what they did in the earnings print overnight and on the call will say yeah, that is happening. it's true. orders are coming in. but it's uneven. the serve of business isn't seeing the same pace of recovery and they missed the boat a little bit on a.i. kailey: i was going to say we've seen their rivals surge this year. dani: so can they catch up at this point

bloomberg. ♪ jon: this is "bloomberg markets ." i'm jon erlichman with matt miller. time for the stock of the hour. we are tracking shares of lucid. they fell short of delivery expectations. that disappointment even as lucid started to push ahead with shipments to saudi arabia, which at this point is the biggest financial backer. matt: if you broaden out, you got the one-day chart, but if you look over the last month you will see this stock is coming back to the level where it has been trading. it was down three weeks ago under 550. a couple of days ago it was trading for more than 8%. -- it was down three weeks ago under 5.5%. a couple of days ago it was trading for more than 8%. and has to prove that the market it can reduce cars and powertrains. this backward looking report does not do that and that is why the shares have taken a dramatic plunge. but he does have time. i think the market is going to give it time to show what it can do, like rivian, and look what has happened to their stock. it is absolutely soaring. lucid has to show that it can execute. but it seems to have the plan in place. jon: i guess at the price point at which they are operating, how many vehicles are they going to be able to sell becomes a question about selling more technology. what is the best business strategy going forward? we will continue to see how that plays out with the lucid story. we talked about the inflation story as well. coming up, with the latest cpi report says about food price inflation. we will speak with a restaurant owner about the challenges that sector is facing. that is next. this is bloombergsomebody would ask her something and she would just walk right past them. she didn't know they were talking to her. i just could not hear. i was hesitant to get the hearing aids because of my short hair. but nobody even sees them. our nearly invisible hearing aids are just one reason we've been the brand leader for over 75 years. when i finally could hear for the first time, i started crying. i could hear everything. call 1-800-miracle and schedule your free hearing evaluation today. >> every time the fed meets we restauranteurs start sweating. we are stuck in the middle. we have cities that are instituting wage hikes that we have to keep up with. we are challenged to keep our employees making a living wage. we need to increase our menu prices and we are holding off as long as we can. if you price too high, you lose your customers. at the same time the costs are up. the restaurant industry over the last three years is notorious for thin profit margins. jon: we recently talked about the

bloomberg's chief asian economist. and you can get a round up of the stories you need to know to get your day going in today's edition of daybreak, bloomberg subscribers go to dayb on their terminals. it's also available on mobile in the bloombergnd, you can customize your settings and only get news on industries and assets that you truly care about. this is bloomberg. ♪ >> -- kathleen: big story today should trade after intel's forward guidance on revenue was boosted a lot, let's just look what it's doing to the major chipmakers across the board. sk hynix is up nearly a half percent. at samsung's down. they are in a different position from these other chipmakers. advantage is up a third of a percent. tokyo electron, 1.8% clearing and on to bring a percent. let's get into the intel story, shares grabbing the spotlight in after-hours trading after intel, the world's biggest maker of b desk pc chips indicated and may be over. bloomberg su keenan joins us. that bullish revenue is the thing that got investors going. su: going into this the intel bulls were saying it really can't get worse. this is the first prophet after two straight losing quarters in the shares show that investors really happy to hear this. again, investors have