bloomberg, new york.enty of green across our screens as shares in asia rise along with cheers ahead of the u.s. economic data and major central bank meetings. we discussed that next. this is bloomberg. ♪ ♪ lizzy: welcome back to daybreak europe. i huge week for central bank decisions starting with the fed decision tomorrow then boe and ecb on thursday. the question many are asking is how long central banks can keep up the higher for longer narrative markets are convinced they will cut rates. i'm joined by the deputy chief economist at bmp parabolic. i wonder who comes out with more credibility, markets or central bankers? >> well really it is a very big week with these three meetings from the fed and ecb and boe. it will be an interesting series of meetings but not that surprising this time because we expect rates to be unchanged compared to previous times where we were asking are they going to climb one more time. this time we think they are over in terms of hiking rates and how long, how much will the d

this is bloomberg. ♪ lizzy: open back to "bloomberg daybreak: europe."tocks are in the red following declines on wall street. markets under pressure from weak oil prices and concerns about china's fiscal health. for analysis of this and the big picture, joyce chang joining me now, chair of global research at jp morgan. today you are at the global markets outlook conference in, is it frankfurt? as i mentioned, equities nearly at all-time highs, and we're pricing cuts. is it a soft landing scenario, or do the markets have it all wrong? joyce: i think you have a softish landing scenario in the u.s. and europe, but we are still putting in 2025 at 60% what we are calling boiling the fraud, and 40% the goldilocks scenario. this could take a while to play out, that's one reason markets have been so strong. the near-term story over the next three months, there is not a lot of uncertainty. but that really changes if you look over the course of the year. just sitting here in europe, i think it's a softish landing but we see mild recession in the united kingdom. ov

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this is bloomberg. ♪ >> welcome back to bloomberg daybreak: europe.elcome if you are just joining us. i want to get into the latest in the middle east now. israel has rebuffed mounting international pressure to halt its military campaign in southern gaza. the united nation warns there is now no safe place in the territory. this as israel's military has encircled gaza's second largest city. hamas run health ministry says over 16,000 civilians have now been killed. the eu's high representative for foreign affairs says he has been told the u.n. wouldn't be ready to operate in southern gaza due to the israeli bombing and called for an immediate cease-fire. russian president vladimir putin is visiting uae and saudi arabia today, on the agenda, issues including oil, trade and investment, as well as israel's military campaign. we are joined by our bloomberg reporter in the region. sylvia, this is a rare overseas trip for putin since his invasion of ukraine. does it show he's growing more confident to travel outside russia? that western efforts are failing to

this is bloomberg. ♪ haidi: you are watching "bloomberg daybreak: asia."g is selling meta shares for the first time in two years as the social media giant rebounds from a rocky 2022. this comes as meta surged outperforming most major tech firms helping him to maximize the proceeds of his activities outside of meta. spotify has cut 1500 jobs, 17 percent of its workforce. this is as it is on track to add 100 million users marking it the best year yet or the biggest year yet. the ceo said spotify was still spending too much amid an economic slowdown. the cany reported a rare -- last quarter. shery: this is "bloomberg daybreak: asia." we saw a risk assets taking a breather on the wall street session today. we saw the s&p 500 at the highest level since march. we are down from those levels and treasury yields going higher. haidi: the come back when it comes to the greenback. the aussie dollar wiping out its gains. we are focusing on the communication, the press conference and what the governor says. we expect a hawkish hold. annabelle: that is what we have seen

i want to bring in bloomberg's jackie jeff rossen. -- i want to bring in bloomberg's jaffe -- jackie dav ros. jackie: the communication workers of america basically agreed with microsoft they will be able to incorporate ai language into their collective bargaining agreement. that move was one of the first where you saw microsoft agreeing to have language in those contracts. that goes hand-in-hand with the broader announcement we saw today in collaboration with afl-cio. many people may not realize this labor organization encompasses 12.5 million workers. that includes other affiliated unions like sag-aftra, like the writers guild. the teachers union. a broad-based organization coming together with microsoft in one of the first partnerships of its kind that is tackling how to handle artificial intelligence impact on workers, what they can do to come to the table and say where are workers being impacted and how can we best prepare them? caroline: to that end we heard the president of microsoft saying honestly i cannot say jobs will not be impacted had become obsolete due to ai. how stra

this is bloomberg. ♪ lizzy: welcome back to bloomberg daybreak: europe.:15 am here in london. south africa's state-owned electricity provider as calm is on track to pace its seventh consecutive full-year loss as the utility crumbles under the weight of its 400 billion debt pile and continues to survive on the back of taxpayer funds. meanwhile, south african annual inflation slowed in november. cpi came in at 5.5% in the year to november compared to 5.9% the previous month amid a sharp decline in feel prices. investors are fully pricing a quarter percentage point rate cut from the south african reserve bank in may. some betting on a half-point reduction. the other end of the continent, somalia has reached an agreement for four point $5 billion of debt with international lenders. that should see some oligo's external debt falling to less than 6% of gross domestic product by the end of the year, from 42% previously. for more all knowledge this, we go to -- who is live. what did it take for somalia to get this deal over the line? >> yeah. lizzy, it took 10 ye

this is bloomberg. ♪ lizzy: welcome back to "bloomberg daybreak: europe."t's just gone 6:15 in london but we are going to china now because stocks are in the red afterwards worse decade inflation data and disappointment over the outcome of a politburo meeting. china consumer prices fell the most in three years last month. bloomberg intelligence as some may be disappointed as regulators dropped forceful wording when describing monetary policy for 2024. joining me is the chief china economist at icbc standard bank. really great to have you. let's start with this inflation data, deflation i should say, because china is in a different situation to the rest of the world. how deep could this downward spiral go? how long do you expect to deflationary risks to persist? jinny: we have seen inflation data hovering around zero. even if you look at the core inflation, core cpi ex-food and energy, it shows that despite the coming down the prices of oil and other commodities. and also food, which obviously, impacts on china's cpi. significantly, there are still very be n

this is bloomberg. ♪ lizzy: welcome back to "bloomberg daybreak: europe."'s get to your top stories around the world. bloomberg learned that spacex is to sell insider shares at $97 a piece in a tender offer, the increase boosting the valley of the satellite company closer to 100 $80 billion. the second most valuable startup offer is in the range of 750 million dollars. the rising valuation is indicative of strong investor demand for the dominant space transportation company. staying with the en masse, bloomberg understands that x, formally known as twitter is on track to bring in roughly $2.5 billion in advertising revenue. last year saw a billion dollars coming in per quarter, the first three quarters this year brought just $600 million each quarter. add sales make up 70-75% of x's total revenue. apple is adding a feature to iphones to prevent thieves from gaining access to critical device data. a beta-test version futures an enhancement which requires face or touch id to access settings including payment information. it's unknown whether the new feature w

this is bloomberg. ♪ >> welcome back to bloomberg daybreak europe. u.s. representative catherine thai cecis excellent talks. but she told us any new agreement should follow trade winds. >> what we have been disciplined in trying to do is to say let us bring a trade program to each one of our partners that's tailored to that partner, that's tailored to our interest in the partnership that's tailored to the challenges and the dynamics that we are navigating in the global economy. with taiwan, what's that meant is that we have been negotiating agreements and the first agreement that's -- that we have with taiwan is one that covers, i think five issue areas. it's trade facilitation. it's small medium enterprises. good regulatory practice. i'll have to look at my notice for the other two. we've got a core group of five disciplines. congress in a fit of enthusiasm even though they were not required to took a vote on it to show their support for what we are doing here. and on that basis we are getting another set of disciplines as we speak. we've been making exc

this is bloomberg. ♪ lizzy: welcome back to bloomberg daybreak: europe.ust gone 6 -- 6:18. bloomberg has learned ethiopia's government is aiming to conclude a deal with bond holders next year. this after it missed a $33 million interest payment on a eurobond this week. joining he now is bloomberg's correspondent. thank you for -- walk us through how the deal with international bond holders played out? >> this went a little bit better. we understand they are close to concluding a deal early next year with their bond holders in terms of restructuring their eurobond. a couple of obstacles are on the way. they have to get an imf deal. it lays the parameters of restructuring of debt. some who are on the call raised the question of the technical nature. this by the fact that the government is bringing bond holders on board without the default. they still maintained the default was not only unnecessary, but unfortunate too. lizzy: what happens if they fail to make the payment? >> a couple of things will happen. they will be considered a default state, like sri l

this is bloomberg. ♪ vonnie: this is "bloomberg markets." amd's advancing ai event is underway. accelerator market will be $400 billion by 2027, they say, an upgrade from a previous forecast. let's bring in ed ludlow, who is actually at the event in california. this upgrade to $400 billion. >> it is surprising. the previous cost of $150 billion is relatively recent. amd, now saying, the market for the gpu's found in foundation models and the inference side of generative ai tools will now be $400 billion by 2027. the question is, what changed? the entire semiconductor industry in 2022, including all chip types, from the most complicated you be used to analog devices, analog chips, was $500 billion. amd is saying the entire market for this ai accelerator space is going to boom almost a total size of the current chip market today. vonnie: it is huge. amd, going for the jugular with nvidia immediately, comparing its own device with what nvidia has. talk to us a little bit about what the battleground is here exactly. ed: the battleground is amd's mi 300x going up against nvidia's h10

it is proving key for bloomberg.writers have created a quiz on the bloomberg terminal using real and ai photos to show how hard it is to distinguish. look at them at the moment. ed: let's try it out. float like a butterfly, sting like a bee. a is the legit one. caroline: i would say a. ed: boom. next. caroline: maya angelou, i had her read at my wedding. i would say b. ed: nice. fair. caroline: this one is harder. joan of arc. ed: i wasn't around at the time of joan of arc. [laughter] they are both paintings. i would go with a. caroline: we are cleaning up on this one. napoleon bonaparte. b. ed: b. caroline: we got it wrong. that is our first dud. ed: it is hard. caroline: i think it is obvious. a. ed: b. caroline: i would be right, but that is a good one. ed: b is clearly high definition. let's make this the final one. it's hard. b? caroline: i think that that might be right. at least we got winston churchill right. that showing ultimately how easy it is to make it difficult. the fact that we got one wrong, i think

this is bloomberg. (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ shery: you are watching daybreak: asia. israel is pushing back on intensifying calls for a cease-fire as the civilian death toll in gaza mounts in the third month of the war. the u.k. and germany called for a sustainable cease-fire. france is calling for a truce. bloomberg's vonnie quinn has the latest. how is israel reaction? we have seen significant pushback against a cease-fire because they don't want hamas to recoup the losses. vonnie: the foreign minister had extremely strong comments to the effect that israel is not backing down. netanyahu, while admitting that he is heartbroken over the lost of some hostages to idf bullets is the him and ellie opposing -- the heavenly opposing this international and domestic pressure. we saw a letter from david cameron and his german counterpart usin

haidi: bloomberg's lead consumer reporter.cking with another major consumer story, apple has stopped online sales of its latest apple watch models. the company says it will also no longer be able to repair watch models past their warranty date. take a step back, why has it gotten to this point? >> maybe they should look in a mirror and ask how they got to this point. they have known for several months that this was a strong possibility and here we are still at the point where they had to take the unprecedented measure of removing their two newest apple watch is market. the question now is, how do you move forward? they are looking at multiple different measures. they could try to get a federal reprieve. they could reach a settlement with the company that created the blood oxygen patents that they allegedly violated. worst case scenario, may be a hardware fix. there is a lot for apple to weigh and do. shery: could it lead to other cases? could this expand to other patents and issues that apple might face with other companies? >

this is bloomberg. ♪ >> take a look at australian and kiwi bonds this morning. we have seen yields falling across the australian sovereign yield curve in the early part of the friday morning session. we are seeing the three year and the five-year down just about 3.8 six basis points, the 10 year yield falling 4.5 basis points there. the updated communication when it comes to the reserve bank of australia saying that they are committing to clearly communicating how it is balancing its nation and employment objectives. that is from the updated statement on monetary policy from the rba this morning. let's bring in a portfolio manager at tribeca investment partners because you are in the camp that the rba is done. what sort of opportunities does that throw up within the domestic market for you? >> it was very positive for the australian market and opportunity, you are looking at the cyclical companies, whether they are retailers, property markets. the property sector is very interesting because clearly, the

♪ >> i am john pilger welcome to bloomberg markets.onali: and i am so gnarly buck. -- sonali basak from the green on the screen for the s&p 500, 0.3% higher on the day. the nasdaq 100 getting more love, almost 0.8% higher on the day. crude back on the rise, you have appointment percent gain in crude, back above $71 a barrel. 2-year yield also flat on the day, one basis point higher. it has been fluctuating. i went to look at the 10-year yield, we just had at $37 billion auction. also watching 10-year yields on the rise. the 10 year and three year auction as well had a bit of pain, a bit of struggle in terms of selling new treasuries into a market where you are watching critical economic data ahead. you have inflation and then you have the fed ahead of us this week. not too surprising to see a bit of pressure on the treasury market once again. jon: definitely feels like macro is going to rule this week. we do have some corporate stories that are moving individual names today. in canada we have been watching blackberry where the company

bloomberg has learned the u.s. allegations of corporate fraud against indian billionaire gautam adani before extending alone to his conglomerate. a senior u.s. official says they concluded that the accusations were not relevant to a sri lanka port project being headed by adani's ports unit. hindenburg's report erased 100 billion dollars from adani's market value this year. baidu's founder --byju's founder has pledged homes to raise funds for staff salaries. the indian education tech company battles a cash crunch. the funds were used to pay 15,000 employees at byju's parent firm. this market has been going gangbusters and they are doing it again, withstanding gains for the year. it has been testing new record after new record. warren funds have been pouring in this year, normally about local investors, sending india's valuations close to $4 trillion. keep it here with us. plenty more ahead. this is bloomberg. ♪ a few years ago, i came to saona, they told me there's no electricity on the island. we always thought tha

paul allen, bloomberg sydney.e will continue to bring you plenty more of live action from cop28, including some key exclusive interviews. we will have conversations with the executive director of the green climate fund. that is at 7:30 a.m. u.k. time. then the engie ceo. plus, the astrazeneca ceo. finally, the prime minister of sri lanka at 9:30 a.m. u.k. time . plenty of important insight from our exclusive guests throughout the morning. this is bloomberg. ♪ troducing the limited edition disney collection from blendjet. nine exciting designs your whole family will adore blendjet 2 is portable, which means you can blend up nutritious smoothies, protein shakes, or frozen treats, just about anywhere! recharge quickly via usb-c. it even cleans itself. order yours now from blendjet.com and bring a little disney into your life. lizzy: come back to "bloomberg daybreak: europe." you have got assets pretty much calm despite israel's army saying the fighting has resumed in gaza read we will keep but we go back to cops now

this is bloomberg. ♪ shery: you're watching derek "bloomberg markets: asia."a has devalued its currency by over 50% as part of the first batch of shock measures by the new administration to revive the country posco troubled economy. the imf says the decision will help stabilize the economy and set the basis for more sustainable and private sector-led growth. bloomberg's buenos aires bureau chief joins us, patrick gillespie. given how early the move comes just after javier milei took office on sunday, how significant is this? patrick: this devaluation was really years in the making, considered the previous government had kept the official exchange rate overvalued for a very long time. the market had been expecting something in the order of 40%, 44% devaluation. the economy minister on the second full business day on the job is devaluing the peso 54%, one of the sharpest valuations since argentina's hyperinflation in the 1990's. he had a message for argentines and for the markets that things have to get worse, especially with inflation in the near term, if anyth

this is bloomberg. ♪ haidi: the u.s. envoy john kerry, says companies with big carbon footprints are facing heightened routinely. he spoke with us at the bloomberg green festival in dubai, and we asked him whether oil companies are doing enough to fight climate change. 'not all of them, no. regrettably. but let me be fair. exxon mobil is working with us on baseline they have to do an in-kind effort with on the ground training and working with people and being able to be helpful on methane. they clearly are moving differently than chevron. and we are hoping to close that out in the next hours, if not couple of days. we will work with the world bank . >> what more can chevron do? secretary kerry: everything. [laughter] [applause] secretary kerry: they have got to do more. [laughs] well, i am very respectfully -- a very respectfully would say that you can't outside of this initiative. we have no real evidence that they, and a lot of others, are doing what every company needs to do. scope one, scope two, methane -- -- this i

"bloomberg technology."aroline: we are still holding on gains in the equity market, up point 2%. this has been an eight week winning streak for the nasdaq 100 and s&p. risk on as we think the federal reserve will start to pull back rates come 2024. this as global tension about to dive into the houthi rebels driving up the cost of oil. perhaps some options hedging their bets, seeing and anticipating that etf come january. a look at the nasdaq, it seems the market was taken off guard by some moves in the gaming industry, particularly adult gamers ability to make purchases within certain games. tencent up by more than 9%. we are looking that overall import ban coming into play come the 25th of december. ed: global supply chains are a top critical story, attacks by humans houthi rebels on commercial traffic in the red sea causing havoc in one of the world's most critical waterways, endangering the global economy. for more, we are joined by ryan peterson, the ceo of flexport. let's bring up a map of global shippi

this is bloomberg. ♪ aintr opportunity.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. yvonne: rishaad: events in the u.s. could have an effect on these companies because, this seems to be epic. alphabet suffering a major defeat, su keenan with us. this victory could be with google in billions. >> this is indeed an epic win. if the verdict is upheld it could jeopardize billions of dollars in revenue that could be brought in from the app store. this was a high-stakes antitrust battle the jury deliberated for less than four hours they decided they willfully wheeled monopoly to the anti-competitive conduct and would reasonably limit trade. they found it cap other android partners. google has issued a statement they plan to appeal after recently reach settlements with consumers, they'll targeted

this is bloomberg. ♪ ♪ kriti: welcome back to bloomberg daybreak: europe. through jamie dimon's incentive jp morgan's succession plan is unclear. bloomberg's su keenan has the details. su: jamie dimon is a fiery ceo not going anywhere anytime soon. he is famous for avoiding questions about retirement and made it clear in 2009 he thought it was in his best interest to avoid such questions which he referred to as drama. that has not stop speculation about who the front runners to succeed him might be. a management shuffle put to co-heads of the bank division in the spotlight as the bank gave jamie dimon a bonus to stay on for five more years. marian and jennifer are top contenders although insiders say neither is the front runner, nor have they vied for the job. insiders are predicting a reshuffling to give contenders more experience to run the company. jpmorgan chase is more profitable than ever under jamie dimon who has been there for 18 years. stock is up 23% and hit a high for the year on friday. su keenan new york, bloomberg. kriti: sticking with those b

>> this is bloomberg markets today.ts live executive editor joins us from singapore to take us through the market action this hour. the cash trade is just an hour away.

this is bloomberg. ♪ jon: welcome to bloomberg markets.'s start with a quick check of the market. the market does not want to give up on hitting a fresh record. s&p 500 up half a percent right now even after little bit of a selloff for a prolonged dip in the last hour and a half. we may indeed see the record before the end of the year, although we are waiting for the last hour and half of trading because we were blindsided yesterday when we saw the move to percent towards the close. vix index. you knew things were happening under the hood. it is about 14, a long way from 12 where has been laying around. it is now showing exactly what is going on. there's a lot more going on than we think. the two-year yield has gone from 429 to 435. 434.95 now. crude oil, in spite of angola saying it's not a member of opec anymore is up about .2%. jon: we will talk more about that and we will talk about nike earnings that are coming up to the bell. it's been a busy week on the earnings front. yesterday we were previewing micron. the stock has been hired to

this is bloomberg. ♪ shery: bloomberg intelligence sees the dominance of etf's growing with new entrantsmarket share of the big three. for more on the outlook for etf's in 2024, let's bring in our bloomberg intelligence analyst. what other regions could be of interest in 2024 when it comes to the dominance of etf's? >> i think in asia pacific there are five regions we are looking at. one is japan. we expect bank of japan will purchase less etf's in 2024. if we look at 29 23, it is a record year for them. they only purchased an etf three times. with governor ueda, we expect the trend will continue in 2024. we've and see no etf purchase. in japan we are going to expect more organic growth coming from the market. japanese dollar is cheap relative to the u.s. dollar. we are seeing a lot of foreign investors invest into japan to japan as one of the leading regions with returns that have done very well. the nikkei has outperformed. japan launched for the first time ever active etf's in september. we expect to the active etf's will be one of the big trends that will help push the japanese marke

bloomberg subscribers go to dayb .your settings so you only get the news on the industries and the assets that you care about. this is bloomberg. ♪ (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ haidi: rakuten is having one of its worst days since than the beginning of november. this coming after the announcement by rakuten group that they would be selling shares rallying in the $475 million in the banking affiliate to pay off debt. rakuten saying it would sell 25 point million shares of rakuten bank and use the proceeds for the early repayment of bonds. bloomberg intelligence saying this sale could weaken the quality of earnings at rakuten bank. you are seeing the share move down more than 7%. staying with banks, the ceos of wall street's biggest lenders have taken their most direct swings yet at washington's plans to force them to set aside more cash. the ceos told law

bloomberg technology coming up next.h hope you enjoy the show, going to do some christmas shopping now, this is bloomberg. ♪ you know what's interesting these days? bitcoin. look for bitwise, my friends. (jennifer) the reason why golo customers have such long term success is because we focus on real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement makes losing weight easy. release sets you up for successful weight loss because it supports your blood sugar levels between meals so you aren't hungry or fatigued. after i started taking release, the weight just started falling off. since starting golo and taking release, i've gone from a size 12 to a 4. before golo, i was hungry all the time and constantly thinking about food. after taking release, that stopped. with release, i didn't feel that hunger that comes with dieting. which made the

this is "bloomberg technology." caroline: grand theft auto six is out with its official trailer as it teases launch in 2025. what it means for the bottom line in the gaming industry. ed: bytedance and go to saving the indonesian tiktok shop in what may be a template for other e-commerce markets around the world. caroline: meta and ibm joint force with 40 companies to create an ai alliance. the implications and open-source focus later this hour. this chicken on the markets. a macro picture of the jobs data . a little cooling, music to the federal reserve's ears. selloff about .2% on the nasdaq. we are seeing 10 year yields back down again eight basis points as people anticipate maybe the fed can continue to be more dovish. bitcoin tearing itself away from the other risk assets pushing higher even as we see stocks and bonds selloff yesterday and defying the 72733. this was the london stock exchange. the third technical fault in three months. an outage that impacted certain tech names that we know. asos trading. they h

bloomberg's emily graffeo.aking of the s&p 500, it's getting close to returning to that all-time high. looks to be in the neighborhood of 30 points from that level in a neighborhood where we have been talking about record levels for the down and nasdaq. currently that benchmark index of .3%. ford sonali basak, i am jon erlichman. this is bloomberg. ♪ to finally lose 80 pounds and keep it off with golo is amazing. i've been maintaining. the weight is gone and it's never coming back. with golo, i've not only kept off the weight but i'm happier, i'm healthier, and i have a new lease on life. golo is the only thing that will let you lose weight and keep it off. who loses 138 pounds in nine months? i did! golo's a lifestyle change and you make the change and it stays off. (soft music) romaine: live from studio 2 from bloomberg headquarters in new york, i am romaine bostick. >> i am scarlet fu. the inflation report investors wanted coming through as they hoped. bonds are pre-much mixed. bonds closed for trading at th

this is bloomberg. ♪ guy: this is bloomberg markets.ng bloomberg at 1:00 p.m. new york time. this is bloomberg. so, move over, the waltons. that is walmart. another family has emerged as the richest dynasty in the world. for the first time the house of hermes has joined bloomberg's ranking of family fortunes and done so right at the top with $305 billion fortune. the abu dhabi-based family topped the waltons by $45 billion. at number three on the list, the family behind hermes. for today's big take let's bring in angelina ross, to talk about the lvmh site. it one point could have been the lvmh side. but the hermes side of the story. you started your piece today, which i urge everybody to read, you start the piece off talking about a cold october day in paris. the head of the family takes a call from lvmh, and this is a kind of galvanizing moment, a catalyst moment for the family to decide what they want to do with this business, and it generates a huge return. talk to me about how significant that call was, and the fact that they pushed

"bloomberg markets: european close" this is"bloomberg markets: european close" this is "bloomberg marketseuropean close" with guy johnson and alix steel. guy: here is what there is. equity markets are not up by much. there is not much volume. sold a up today, spinning out one of its divisions. the react -- the markets reacting positive. the story quite well known. glencore is the anomaly. very poor chinese data. that gets priced in fairly early this morning. at sector down by 3.8% today. to be brutally honest, there is a dearth of news out of europe. the week starts tuesday. >> there is more news in the u.s.. i guess we are the lucky ones. it is not necessarily on an index level. s&p 500 down -- up .1% at the moment. we are waiting for key catalysts this week including cpi tomorrow and the fed decision on wednesday. on monday, we have a fair amount of deal news. big individual movers, specifically macy's getting a $5.8 billion buyout offer according to our reporting from arcade capital. this stock heading for its best day since may of last year. occidental doing a deal roughly $12 billion

this is bloomberg technology with caroline hyde and ed ludlow. ♪ caroline: i am caroline hyde at bloombergeadquarters in new york. ed: i'm ed ludlow in new york. caroline: coming up we speak with heather boucher and the impacts of the inflation reduction act. ed: alphabet loses its suit. caroline: true anomaly raises 100 million to ramp up the satellite that can detect threats. the threat over the cpi print running ever so hot has died down and we see .2% up on the nasdaq. we come back down because the cpi is slowing but there are areas of concern. the dollar index is off .16%. but see the effect on the u.s. dollar and crypto. bitcoin has been carving its own path but is off is 45,000 level 4129. just treading water after the macro print. ed: oracle is the story were watching. the way the market is looking at it, it's the second quarter of decelerating growth. the opposite of what they wanted to see. that puts it back on track. where they getting enough access to high and gp use in support of artificial intelligence? the jury in san francisco saying that google play is a monopoly based on

this is bloomberg. ♪ shery: bloomberg has learned that warner bros. held talks on a possible merger with paramount global, potentially combining two of the biggest media companies in the world. bloomberg's m&a michelle davis joins us now and we continue to see consolidation in media. how significant with this deal be? michelle: very significant. it would be one of the biggest media deals we have seen in the past few years. the media industry is undergoing a lot of transformation. consumers are cutting the cord, they are not cutting -- paying for tv the way they did in the past. everyone wants streaming, and it cost a lot of money to create that content. the idea is if these two companies were to merge it would give them some scale, better ability to compete against the apples and amazons that have unlimited money and able to put money into streaming and not worry about cost the way traditional media companies have to worry. haidi: paramount is controlled by the redstone family. what we know about sherry redstone's role in this, and how it shapes the l

that does it for this additional bloomberg technology.mpacked thursday and so much to recap on our podcast. we are on apple, spotify,iheart, and the bloomberg platforms. this is bloomberg technology. ♪ the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com the power goes out and we still have wifi with a partner thatto do our homework.rst. and that's a good thing? great in my book! who are you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfinity. home of the xfinity 10g network. so the first time i ever seen a golo advertisement, learn more today. hi, t i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple

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there is a great line in a piece today on the bloomberg terminal.ne cannot help but wonder if the b oj is about to repeat the mistakes of 2006 by starting to hike after the fed is finished and more often than not, just before something in the global economy breaks. i would've thought the market should be terrified today. the b oj has a track record of hiking into the teeth of a storm. i wonder whether or not that is about to happen again. should we kailey: kailey: be super nervous? that's an excellent question. it's already too late so how early credit come? if they push it beyond december, does that make matters worse? guy: i think the governor of the bank is in for a bumpy ride. you have to wonder whether the b oj will complicate matters. it will have an impact in terms of what yields do and how they develop not only in japan but around the world. that takes it to our question of the day -- should the b oj hike when others are cutting? joining us to discuss this is michael mckee and ira jersey. what do you think? the history is not good. just abou

this is bloomberg. ♪ jon: this is bloomberg markets.giant instructing all vessels heading for the southern entrance of the red sea to positive wages after one of its carriers came under attack with militants who have been attacking more and more merchant ships and the red seas. vessels they claim are connected to israel. joining us from london with more is bloomberg's l a recondite and gay a. ever since we have started covering the work, we have seen this side story developing. what can you tell us about it? >> pretty soon after things escalated in gaza, used saw vessels being attacked by the militants. that was sporadic and often times you could see a link to israel. as time has gone on, the attacks seem to be intensifying. i think to see less clarity they are connected to israel, that is a concern for the market and for trade. 12% of seaborne trade goes through that canal. the other big canal in the pacific and atlantic oceans, the panama canal has got its own problem because of drought. it is becoming quite serious. there are lots of

bloomberg fed columnist and former dish bloomberg columnist and former -- lumber columnist and former new york that president talking about a major gamble. he joined us earlier. >> pretty steady growth. the inflation rate has come down. the market may be getting a little ahead of itself. powell thinks the fed will be cutting rates in 2024. inflation could be more stubborn and the rate cuts might not turn out. guy: there arvest is still out there. -- there arvest still out there. i-- are risks still out there. is it too good to be true? liz is here in london, which is fantastic. nice to see you. >> so nice to see you. guy: you look great, by the way. let's talk a little bit about what is happening. it has been a crazy few days. too good to be true? >> i think there are many reasons for markets to be happy. this is a significant change of tone from the federal reserve. you would imagine there would be some type of euphoria. we heard from the fed and we may see three rate cuts this year and we are currently pricing in 6. there was quite the divergence between markets are pricing in and w

bloomberg's ed ludlow.atch ed and caroline how it on bloomberg technology -- and caroline hyde on bloomberg technology. coming out, we will get a closer look at the state of manufacturing. ♪ alix: we are about one hour into the trading session. abigail doolittle is tracking the moves. abigail: the russell 2000 down about .2%. look at the week. this has to do with the pivot, up for a sixth week in a row. the s&p 500 is up eight weeks in a row, the longest winning streak going back to 2017. let's look at the index along with other asset classes and it is a week to remember. the s&p 500 up the eighth week in a row, the longest winning streak since 2017. gold up 1.8%. diversified rally. there is the big rally, bonds rallying in a massive way. 441 on the two-year yield. the bloomberg dollar index down 1.4%. a piece of this is not just the power pivot but christine lagarde being hawkish which is helping the euro climb which is pressuring down on the dollar. the breath has increased. this may suggest it is not as

this is bloomberg. ♪ guy: next week -- last week was pretty hectic.nd little less so but you are not done yet. you have big news on friday but before that the main event of the week with bank of japan likely to give the world's last negative interest rates intact tonight. investors looking for clues when authorities might scrap the policy next year. january, april? d we will wait and see. ejoints -- we will wait and see. derek will join us now. we will not get much now but next year, things will get quite exciting. give us your roadmap for what the boj will be doing end of next year -- end of this year into next year. derek: there is a window at the moment when you have the fundamentals of japan certainly indicating that inflation is a lot less sustainable than the last 30 years. there is a sense they are shifting towards some action at some point. and i would highlight the deputy governor's speech, the english version is on the website, which goes through not the positive aspects but the impacts and gives a reasonably positive spin in terms of the im

we are joined by bloomberg's alex longley. to oil right now. this is primarily concerned on the supply side. alex: the other thing you can throw into the oil market that's true now, the technical trade is moving slower. in particular the supply is the issue, particularly from the u.s.. it also had this huge balancing factor which most in the market we think means this weekend next week we will see heavy crude exports. producers outside of opec are expected and have been lifting out over the last few months into the start of next year making this bigger than demand. guy: what does saudi want? they have more and more -- they've got more and more ticked off. we've seen data recently of what's been exported from a couple of african countries. the saudi's want changes with what everyone else is doing. if they don't get that, what is there potential saying enough. and the price goes down sharply. alex: we saw when that meeting got delayed a couple of weeks ago an immediate price response. this is in 2020 that was a reaction to the c

kailey: this is bloomberg markets. coming up, david hunt joins bloomberg tv at 3:30 p.m.this is bloomberg. ♪ kailey: it's inflation day in america, cpi coming in most in line with the littlest upside surprise on the headline monthly figure so let's get more insight into our question of the day. is the fed on track for 2%? joining us now is jason furman. are things on track for the fed? guy: i'm going to assume that he can't hear us. >> i hear you now. kailey: there we go. guy: we will start again. kailey: the question of the day, is the fed on track for 2%? did the data we got today support that? >> i think the fed is on track for something close enough to 2% inflation. over the last six month, the measure they are focused on which is pce inflation is running at it 2.5 percent rate. core cpi was on the high side but i expect the core pce which is what they care about which we get in a couple of weeks to be a lot lower than the number we saw today. guy: does that mean we can cut rates the beginning of next year starting in march? is this enough? >> i could see rate cuts in

this is bloomberg. ♪ guy: this is bloomberg markets. looking live at the principal room., orlando magic ceo at 2:15 p.m. new york time. this is bloomberg. ♪ guy: consumer confidence, looking at the data. americans still spending, opening their wallets last month . but this economist is saying consumers are a bit overconfident. >> consumers are more or less worried, but i think they should still be concerned. their wages will not rise as much. excess savings from the stimulus checks will go away. lots of consumers have credit card debt and by now, pay later- types of nose. that will coalesce into softer growth in the first half. guy: i want to translate that comment into what is happening for high and spending in particular, what kind of a holiday season and what kind of a 2020 for we will see for the european global luxury sector. the consensus is that the beginning half of the next year will be tough for the luxury sector. china has not returned. is that your view as well? and the second half starts to get better and better? luca: definitely. the most difficult thing her

bloomberg real yield starts right number.

this is bloomberg. ♪riti: welcome back to "daybreak: europe." for the past decade, china has been pouring investment into sub-saharan africa as part of its belt and road initiative. now, the u.s. and europe are trying to catch up. our documentary explores how the battle is playing out on the continent. >> this train running across angola is at the forefront of efforts to listen china's influence on this part of africa. it is about to get hundreds of millions of dollars of u.s. investment with one goal in mind -- removing valuable natural resources from what is known as the central african belt to the west. >> more than a kilometer below my feet lies enough copper in a high concentrated form to power over 100 million electric vehicles. >> getting those metals out of the mine is only the first step. what is difficult is getting them from the minds hundreds of miles across to the ocean, to the ports, and onwards to the final consumers. that is where this comes in. the biden administration has a plan to finan

that the bloomberg

bloomberg's maria tadeo, we appreciate it. we want to get more on this and are joined by carsten brzeski. what do you make of the gap we see now between these central banks? carsten: clearly, even after the fed, the ecb is not pivoting at all. we'll see more of a significant downswing in the u.s., which will allow the fed to do these rate cuts next year. we did not fly high in europe, now we are slowing down again. the ecb, they have been lagging behind the fed anyhow. we will look to rate cuts in the second quarter at the earliest in europe. guy: the fed seems to be cutting because the inflation is coming down. the ecb is cutting because growth is -- is not cutting because growth is slowing down. shouldn't they be thinking about action earlier than the fed? carsten: not really, guy. the first thing, the interest rate and the u.s. is higher, so the fed has more room to cut rates. in europe, the ecb still expects growth to come in at 12.8% next year. we are a bit more pessimistic, but we do not forecast a fully fleshed recessio

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