david solomon does not expect the fed to take emergency steps and he sat down with david rubenstein.ere are things that contribute to volatility since friday. first is the jobs report with a soft trajectory for the u.s. economy. it is important to recognize it was softer than expected and employment levels are robust. it took participants by surprise and they have been well leveled, they now discount the soft landing. the second thing is the boj tightened policy. investors have been borrowing yen and investing in u.s. treasuries. based on boj movement investors unwound. a couple of other things, investors were positioned the wrong way and we saw a spike in the vix, largest one-day move created uncertainty and volatility. i would not call it extraordinary. in terms of your question economists have upped their chance to 25% and that is lower than consensus. my view is the best chance is economy will chug along but the possibility is never zero. tom: you can watch more on the david rubenstein show next week with the times shown on screen. other stories making news, u.k. police deployed

you can watch david's conversation with goldman sachs ceo david solomon tomorrow at 9:00 p.m. bloomberg wealth tonight, his interview with john arnold, arnold ventures co-founder and co-chair. coming up, here is the trading diary for the week ahead. we go from atlanta fed president raphael bostic weighing in on cpi. tomorrow, u.s. cpi. thursday, retail sales and another round of jobless claims as well as walmart reporting earnings after the bell. friday we will round out the week with chicago fed president austan goolsbee. coming up tomorrow, stuart kaiser, marriott ceo, former chicago fed president charles evans. as we march through what we got today with ppi and look ahead to cpi. this was bloomberg surveillance. ♪ why do couples choose a sleep number smart bed? i need it a little cool and i need it a lot of cool. we're both cool like that. sleep number does that. actively cools and warms on each side. during our biggest sale of the year, save 50% on the sleep number limited edition smart bed and free delivery when you add any base. ♪♪ relax into a caribbean state of mind. v

had a chance recently to sit down at the goldman sachs offices in new york with chairman and ceo david solomon. we had a chance to talk about the market, the economy, and the federal reserve. as we talk, there was a gigantic drop in the market yesterday. the stock market, dow jones went down by about a 1000 points or so. what precipitated this, and do you think this is an indication we are not likely to have a recession in the near future? david s.: i think a couple of things have gone on over the last couple of days that contributed to the ark of volatility. we have seen really since friday, the first is the jobs report on friday indicating a slightly softer trajectory for the u.s. economy than people were expecting. i think it is important to pull back at a high level and recognize it was not a horrible job, just softer than people were expecting, and employment still remained robust. it certainly took market participants by surprise, and market participants have been well levered toward a very soft landing, and i think they now discount that soft landing a little more than they did prior to

awaiting federal reserve to divert recession fares with possible interest rate cuts goldman sachs david solomonwill delay cuts border patrol walking back talk raising interest rates further saying will not tighten, monitor policy when markets are unstable, you know adam that was basically took this market back the doj -- becoming first major central bank to put calm in the market saying no, no, no not keeping raising rates they raised july 31st as it that victoria talked about carry trade i don't think viewers need to worry highly technical borrow one currency buy bonds in another book differential. >> you don't think earnings as good as hoped i would counter say actually, s&p 500 earnings thus far that have been reported are on average, um -- indicating growth 10 1/2% which is above what we thought was going to be the number, % if earnings are better, why do you sort of feel that they're not? >> well i would agree that is true. on the bottom line, but when you look at revenue growth you only got 55% companies beating on that top line on revenue side. that is really where the consumer comes int

david solomon, goldman sachs was pretty positive on it when he last spoke.h handleder are jeffries put out what i thought was one of the most bullitious states, if not the most bullish that i have seen. >> there are tremendous multi-year tailwinds for capital markets, especially the x factor the private equity trades, a dallas to get put to work. a hiccup in the market could put a monkey wrench in the market briefly. are there any accidents in the market given issue volatility in recent days. so far i don't see any. >> nor does jamie dimon, by the way, who was asked by less by about whether there's a recession or not. first thing he went to was credit, set it's fine. obviously things could get worse at some point. and the credit wards would expect they're backing that up. >> the one data point is corporate bond spend relative to treasuries are still close, still 100 base points out. back in 1998, they were double that. the largest bank/bond spreads are still close to -- >> so it's kind of giving a yawn, and the equity market is freaking out. it's the op sid

i want you to listen to what goldman sachs chief executive david solomon had to say about it, a.i. >>ld not debate whenever you have something new that's exciting, that stock market valuations can get ahead of themselves, you know, run ahead and then ultimately adjust. you and i can look at all sorts of things in our careers that we've seen that, a.i., expanding technology, gpus, increased capacity, used to this in business process this is not a bubble, it is a trend. we're in early stages v. how it affects business profitability. valuations go up and downs. i'm not smart enough to call tops and bottoms. stuart: okay, jeff, it is, a.i. is not a bubble. i think you disagree with that. you got 30 seconds. >> i do, stuart. goldman sachs had a report of june of this year where they talked about the big capital spending that's going into a.i. they're determining that it will be about a trillion dollars. i started buying nvidia in 2018 on your show talking about it. when you have to spend a trillion dollars, if you can't quantify that spend in earnings which right now we are only seeing a.i

. >> david solomon's on the tape here and giving an interview and said no recession, the correction in the stock market, quote, might be healthy. sees no emergency cut from the federal reserve either. there are many notes out today saying no imminent recession. that's hsbc. barclays with the jobs report last friday which got everybody worked up, just one print. what do you make of all that? >> i'm inclined to think that while things are slowing they're not falling off the cliff. i was surprised to see siegel come on ---er is me siegel say we need 75 emergency cuts and that seemed a little extreme to me based on what i'm seeing from the data. i'm seeing enough corporates that you talk about uber and there are enough things going okay for big-dollar companies and i'm not seeing some implosion and i see some eroding in the consumer and we saw verticals and auto, housing, retail restaurants to be more concerned and the sell side estimates are too high. they have to come a notch, maybe two notches lower and i don't think it's, like, hit the panic button and it's, like, let's turtle up. >> o

condition, no cracks, no chips, no dents, although the vessel was in the time of the biblical kings david and solomon jug has not survived for more than. years, but did not survive the visit of a young visitor who wanted to get a closer look at the exhibit. the artifact was exhibited right at the entrance to the museum without a protective display case, so the child was able to grab the vessel by the handle and pull it towards himself to see what was inside. well, here's what's inside, now we see it too, nothing interesting. however, the restorers promise to glue the ancient artifact back together. i can fix it, everything is fine, the jug will be presented at the exhibition next week, everything will be fine. the organizers of the exhibition did not make any claims to the child's parents, the museum staff understands that the boy was driven by curiosity, and not by the desire to harm the family, they even invited him to visit the exhibition again, with the hope that the second visit will be without incident. next, watch the program chp, with us is marat sedikov, marat, you have the floor, and egor,

k is new, david solomon is facing a national crisis as the was rioting, and 13 year sweeps, the country violence food by far right groups began after 3 young bills was stab to death at a don's cost last week and an investment in of which reports from south poland for the community as in morning a week on a town moons a week since the beginning of 3 young goals. the stabbing to death of alice b, b and l. c. ship the nation. that's what those in that hometown degree is passed. just little ghost of him today and then what it's been distorted to, to it's just been discussed and so then memory westdale can't really pro stuff but the suspect and you know that when they start to, to these beautiful angels with it, which is trying to have phone, just do every kid officials paying their respect, including the com, a made divisions. the minister out there here. what are your reflections on one week since this tragedy of festival? i'm here on a private visit as the meanest of the communities, 2 to 6 best mice sorted out and support to the community. i'll be inspired how people have come together i

perfect condition, no cracks or chips, although the vessel was in the time of the biblical kings david and solomont survived in more than 3.00 years, but did not survive the visit of a young visitor who wanted to get to know the exhibit better. the artifact was exhibited right at the entrance to the museum without a protective display case, so the child was able to grab the vessel by the handle and pull it towards himself to see what's inside. well, that's it. we can see what's inside now, too, however, restorers promise to glue the ancient artifact. i can fix it, everything is fine, the jug will be presented at the exhibition next week, everything will be fine. no complaints, the child's parents, the organizers of the exhibition did not make, the museum staff understands, the boy was driven by curiosity, the unwillingness to harm. the family was even invited to visit the exhibition again, with the hope that the second visit will pass without incidents. well, now is the time for the weather forecast, tatyana ermilova will tell us about it. tatyana, what are you preparing for? a vast anticyclone er

you're talking about david solomon. just making sure here. >> i'm an old testament guy.t. >> you are. i know. you totally are. >> but i am not -- >> you're not -- just wanted to make sure you weren't going there. >> an eye for an eye is not a universal precept. i just think he's done a really good job, and by the way, thickest skin i've ever seen. >> he needed to have a thick skin. >> another guy i go to fitterling on. plastic skin >> you keepcoming back to fitterling. >> i like jim and it's not -- jim would say, david, it's not dow chemical. it's dow. >> it's dow. by the way, that does get us to some of the industrials. we saw -- well, cf is more -- >> the one to watch. the best country is cummings. jennifer rumsy is so good. it's going to hit its new high. that's about power and engines, and rumsy, untold best industrialist in this country right now. jim appleby, no offense. your hair looks fine. >> does it? i don't know. >> you're playing with your damn hair. i'm talking about cummins. >> i saw a couple strands out of place, i wanted to look good for everybody, you in

it was believed to predate king david and king solomon.at the boy wondered what is inside the jar. perfectly reasonable and curious. the jar is thought to have carried olive oil and wine. he pulled it slightly forward. tipped, smashed. the young boy, gripped with fear, began to cry. his parents surveyed the scattered pieces of the bronze age artefact, scrambling to figure out how to best handle the situation. "at first i was in shock," said his father," then i was a bit angry with him." the owned up to the museum. instead of imposing fines or punishment, the museum invited them to visit again. and included a tour. they didn't want this little boy to feel that going to museums or places like that should be a scary experience and you should be a scary experience and you should dummett can't touch anything or be curious. haifa should dummett can't touch anything or be curiou— or be curious. how much was it worth? priceless. _ or be curious. how much was it worth? priceless. it— or be curious. how much was it worth? priceless. it begs- or be c

a true champion of faith, family and freedom, with king david's vision of unwavering courage, and with king solomon'sderstanding heart, so that he can continue to lead this nation for many years to come, with ears to hear, eyes to see, a heart to feel, and hands to help bring honor to your name and blessing to humankind. four to him and -- fortify him and us all so that he may turn crisis to opportunity, bad to good, despair to hope, darkness to light. god, we also pray for the immediate and safe release of all the hostages held in gaza. [cheers and applause] made a return to the impress of their families with good, physical and emotional health immediately. protect our brothers and sisters in the land of my ancestors, israel. [applause] especially the ids and u.s. forces who are courageously fighting a horrible good versus evil against the evil terrorists who have waged war against the very foundations of morality and goodness in our world. strengthen their hands, fortify, experience, and fasting victory in the right chest struggle. as my mentors taught, the world is not perfect. but it is protectab