the abramowitz rule -- the abramowitz bull is more of a unicorn than a trojan horse.en the sense it could be a hollow report, do you think there will be a deceleration in the labor market and wage gains want to be as robust as people think and frankly even as the fed is penciling in? carl: can iso that -- can i answer that in april or may this year? as we look at the data, whatever we see for the december report, you might as well put a negative sign in front of that for your forecast for the january outcome and february will be lousy as well. as we look at the mid-march fed meeting, they will have a clouded radar screen to make their economic assessment due to what we are seeing with omicron at the moment. they will be a lack of clarity over the next couple of months due to the coronavirus. the fed is going to struggle to see what is happening in the underlying forces with labor and inflation. that is a reason why we might see the fed keeping its options open in terms of pricing the interest rate increase either at the march meeting or the june meeting. thanks looked

from new york city with tom keene and lisa abramowitz.is bloomberg. ♪ with the first word news i'm , ritika gupta. president biden had what he said was a great call on european leaders. he tweeted they discussed joint efforts to deter further russian aggression. the uss as many as 8500 troops could be sent to eastern europe to assist nato forces. another missile test from north korea, appear to have fired two missiles toward the east coast pair that tested more missiles this month than at any time since august 2019. it warned they may use long -- long missiles to deliver them. setting a squeeze from higher bills and taxes, it says british workers will need double-digit pay hikes. a warning that there is a reasonable chance that -- is the u.s. is in the klein while china has been rising and he spoke in a wide-ranging interview. to the walt disney fortune, consumers can skip visits to theme parks if they want help worker rights. one spoke after she screamed her documentary at the sundance film festival. global news 24 hours a day, online an

abramowitz doesn't get covid, covid gets abramowitz. yields do nothing.de positive eight, let's call it 9/10 of 1%. that interview with new york city mayor eric adams on this network in the last 24 hours. here's a quote for me, they cannot do their jobs, you cannot run a city like new york on 30% occupancy buildings. new york city mayor wants to get people back to work. tom: mayor adams gets right into it. what i would suggest in this is so important. lisa and i had it. the answer is all eyes turn to 1600 pennsylvania avenue. and reorder and has spent a lot of time thinking about the -- anne-marie hord turn -- anne-marie has been thinking about the options the president have -- has. what do we need to know about the thinking of the white house this morning on this terrible pandemic? >> the president and vice president will be meeting with their covid white house response team on the heels of that very devastating skyrocket number of a new u.s. global record of one million cases. that's double the record the united states set just four days ago. this is wh

. ♪ jonathan: we are geographically diversified with risa abramowitz in paris, tom keene in an undisclosedand jonathan ferro in the studio in new york city. futures are negative 1/10 of 1%. nasdaq futures down 68, .4%. one of the first three trading days of the year, the vergence -- the vergence between big tech -- look at the outperformance on the banks, s&p 500 banks index up 700 index -- 700 points. are we about to see a repute of q1 last year -- repeat of q1 last year? 1.6438, unchanged. behind of last year was the end -- the high of last year was the end of q1. are we about to revisit those levels and experience the same old narrative of getting back to normal like we saw in q1 2021? tom: we are going to watch the real deal dynamics more than anything and also what we see in the spread market. give you coverage throughout the day and the jobs report on friday. conrad dequadros joins us, thrilled he could be with us. on the american economy, do you and john riding have to adjust your numbers because of omicron? conrad: i don't think so. we haven't had the fourth quarter gdp yet toward

alongside tom keene and lisa abramowitz. your equity markets unchanged. the s&p still negative. tom: geopolitics front and center. strong swiss franc. there are some key points of a news with strength and it is one of the issues in continental europe. the news buried is that the u.s. authorizes the delivery of stinger antiaircraft missiles ukraine. this is very much a developing story for all of bloomberg surveillance. jonathan: we had to cleanup act following the news conference. the quote, it is one thing if it is a minor incursion and we have to find the path of what to do and what not to do. is the toothpaste out of the tube? tom: you have been talking about the nord stream 2 and things that make my eyes lays over, but this is the phrase of a fully coordinated plan, where is the fully coordinated plan among western allies and nato nations. jonathan: that is the politics. in the premarket, only one name, netflix, down, down, down it goes 20%. maria: down 20% -- lisa: down 20% after they announce they expect new users down. the key is how much we bring forward demand and see a

. >> this is "bloomberg surveillance" tom keene, jonathan ferro and lisa abramowitz. >> good morning. this is "bloomberg surveillance." your equity markets down three or four points. the banks on wall street are off to the races. tom: when they move there some real dispersion out there. the everything rally, that is not happening right now is wait. we haven't talked about the labor report of the american economy starts today. jonathan: data point on friday. the estimate of the moment around 400,000. the conversation in the equity market, values versus growth and the former is doing a whole lot better than the latter. lisa: this feels like the beginning of last year that the idea value is outperforming. serious underperformance as big tech takes it on the chin. this as yields arise. i keep thinking how much of a head fake is this. people trying get away. they say they are less loved and then he gets turned. how much are we frontloading rate hikes. >> the fed minutes out later. i know what tom is doing, will you be sleeping? how closely will you follow the fed minutes at 2:00 p.m. easte

alongside tom keene and lisa abramowitz. equity markets up. the s&p down one third. tom keene, that line on winter from mike wilson at morgan stanley. tom: goes across equity markets, fixed income and what we see of the tensions where is winter along and eastern front of eastern europe. we will dovetail all of the politics in with the markets. i would suggest, so important is we are seeing the triangulation of the markets, gold up, dollar up, swiss franc up that is what you know about political tensions. jonathan: 10 year yields down three basis points. the team at morgan stanley and the head of the fed saying slowing growth is overtaking what the fed will or will not do. tom: i really want to see how the recalibration lays out from paul krugman's op-ed. you have elements of the 1947, the divide. it is extraordinary at the recalibration we are going to see this week. jonathan: what the week ahead. at the same time, we have a focus on secretary blinken meeting with the eu foreign minister. this is an important moment. lisa: especially as it seems like russia is gettin

. >> seconds away, we are on sirius radio alongside tom key and lisa abramowitz, i am jonathan ferro.nd .1% down. down 127, and 8/10 of 1% now. yields are higher by sigler -- single basis point. it is already dropping right now. mike mckee is here for more. >> hello. it's a lot worse than anticipated. whether it is because we couldn't sell cars or everyone bought a christmas present in october, detail sales -- retail sales were down 1.9%. the forecast was .1%. that is quite a shortfall. autos are down .3%. gasoline down 2.5%. abatements for retail sales, and retail sale control groups are the sorts of things that go into the gdp. we .1%. it was expected to be flat. a real drop. import prices are down 2.1 percent. in petroleum is up by 3/10 of a percent. import prices are still rising 2.4% on the year. checking the markets, i will see which of the categories have really contributed to this big drop. >> the first thing i did was check estimates. justice shot out to jp morgan with the control group. he was looking for -3%. but if you look at the range all the way down to negative three,