alix: it is alix in new york.hat areas within the data are still the tightest in the existing home market versus the ones that are looser? anecdotally, i am in new york and i feel like i'm seeing price reductions on existing home sales right now. lawrence: in the upper end market there is price can -- price concession at the upper end. on the midprice home there is a job creation happening. 4 million people working today versus pre-covid. they want to be an owner. there is a demand at the low-end. it suffered more before today's data. after some price decline that was experienced in the west people are viewing it as a second chance opportunity to get in. the west region outperformed other regions in the latest data. guy: how does this correct itself? this is the bit that i'm wondering. america continues to under build. the new market is doing well but is not supplying enough homes for americans. the existing market, no one is moving because they don't want to lock in higher rates. how long does it take to correct

>> this is bloomberg markets with alix steel and guy johnson. alix: 30 minutes into the u.s. trading day. here are the top stories we are following. you have the china fizzle. the government tries to woo investors back into its equity market. the rally fades fast. central bankers skew hawkish at jackson hole. we look at the biggest missed prices. stocks up. yields go nowhere. the uaw is looking for a 46% raise and a 32 hour workweek. we look at the unprecedented possibility of a big three strike. from new york i am alix steel. guy johnson is off. he is currently sitting on a tarmac. we hope your plane has finally taken off. welcome to bloomberg markets. it will be hard to take a price signal over the next five days. volume is light. it is the last week in august. the take away is tricky. we did see action in europe. there is still a lot of data trickling out on both sides of the atlantic. central bankers made it clear at jackson hole they were following the data. >> we are prepared to raise rates further if appropriate and intend to hold policy at a restrictive level until we

alix: i am alix steel. guy johnson is off. his plane finally taking off in the u.k. for a vacation in an undisclosed vacation. abigail will track us through some of the movers. abigail: let's take a look at the german dax. up 1%. best day since july. basically a month, for a second day in a row. august is a different story. the german dax down sharply. similar to the mood music in the u.s., we do have european equities higher in the german dax is one of the indexes outperforming. european natural gas futures soaring on the possibility the lng strike in australia will happen. chevron is saying they've received notice it will start september 7. that could be 10% of the world supply. brent crude going along for the ride and completing the risk on tone, we have the german 10 year yield up one basis point telling you investors are not looking for that haven asset. we have the tension between yields higher and stocks but today stocks higher. alix: here in the u.s., volume pretty pathetic. s&p up .4%. most major sectors are up. micron getting a nice boost. secretary of comm

alix: kriti, what you think? kriti: i think we have hit the 5% world and we might be in it for the temporary future, but i do not think it will last. when you are looking at the pre-gfc world it is not the same circumstances. a big part of that question is china. if you look at the readthrough from china 15 years ago, it is not the same as it is right now to the point that a lot of this will filter through the commodity and bond sector. i do not think it is going to last. guy: let me throw another angle on that. why have yields backed up as much as they have? it does not feel like an inflation story. it feels there are other forces at play that could have sticky effects. this is about deficits and shifts in the labor market. go back to government spending as a big factor. there is a range of other factors that are potentially in the mix to keep yields higher for longer. kriti: i keep saying this, a plumbing issue because there are some any other factors. the fiscal deficit issue, the holdings of treasuries from a

alix: the yankees are not looking so good. guy: alix steel talking sports.wraps it up. coming up caroline hyde and ed ludlow. this is bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh so... i know you and george were struggling with the possibility of having to move.hh how's that going? we found a way to make bathing safer with a kohler walk-in bath. a kohler walk-in bath provides a secure, spa-like bathing experience in the comfort of your own home. a kohler walk-in bath has one of the lowest step-ins of any walk-in bath for easy entry and exit. it features textured surfaces, convenient handrails for more stability, and a wide door for easier mobility. kohler® walk-in baths include two hydrotherapies— whirlpool jets and our patented bubblemassage™ to help soothe sore muscles in your feet, legs, and back. a

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alix: it is 30 minutes into the u.s. trading day, wednesday, august 2 here are the top market stories we're following for you at this hour. the fitch fumble, the rating agency downgrading u.s. debt stock selloff. we will see if anything has really changed. and recession reversed. the bank of america becomes the first two digits mild recession call. we will talk with henry mcvey, cio of balance sheet. earnings tumbled 26% for carlyle group you you have exits and new deals slumping. from new york, i am alix steel. welcome, everyone, to bloomberg markets. from where we are now to where we were in 2011, when we had the s&p downgrade, the u.s. is completely different. sitting in the chair now, looking at market reaction, you can feel the difference. guy: absolutely. the market is struggling. they are saying, we already knew this. but does that mean you can ignore it? i'm not sure that you can completely ignore it. i think there's an underlying message here. there are three factors used here, in terms of the downgrade. one of

alix: what did you make of the prices paid? tim: i like it. alix: ok. talk me through it. tim: we are not contracting as fast as we were in june but we are still contracting strongly. it means that our input costs are dropping from a material standpoint. we did report this month we had a lot of stuff going up and down which would indicate we are achieving a level of sustainability for the future. when you have stuff being reported up and down we are in a transition period. we had some of that in steel and plastics. that would support the fact we are in a trough and things are resetting for the growth. guy: i'm listening to a number of analyst calls from the big manufacturers both in europe and the united states. they are talking about the fact that maybe the benefits of the supply chain ease are now over, i.e., things are bottoming out on that level. are we that easing process? does that tailwind we had now start to dissipate? tim: we are still very accommodative from a supply and delivery standpoint. not so much in july as we were in june but marginally so. we saw manufac

alix: fair enough.e to worry about tampering down expectations when retailers talk about it. cole: it is a good excuse. alix: it is not whether, it is student loans. thank you for catching up with us. let's stay on the consumer, coming up, jobs claims fell the most in the last five week showing a weakening job market resiliency. how long will it last? we will talk about that coming up. this is bloomberg. ♪ my cpa told me i wouldn't qualify for the erc tax refund, so i called innovation refunds. their team of independent tax attorneys will work with your cpa to determine if your company is eligible. [whip sound] take the first step to see if your small business qualifies. 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 alix: this is bloomberg markets you're looking at live coverage of the principal room. coming up tapestry

-- alix steel and guy johnson. alix: wednesday, august 23, here are the top market stories we are following. investors punishing the stock as the company cuts the forecast. and the pause point, services start to roll over. does the data from europe in the u.s. give central banks permission to pause? anomaly or trend? weakening services data around nvidia earnings and a baby draft forming spots, we find out which is more -- a baby giraffe or without spots, we find out which is more unusual. guy made me put the draft and i found a way to put it in the cold open, you are welcome. happy birthday. guy: it is not my birthday, i wish it was. talking about the yankees and the fact they have lost nine in a row, maybe 10 coming. let us talk about what is happening with pmi data, it will appear like magic behind me. this is not exactly a great reading, economies look like they are slowing down on both sides of the atlantic. u.s. data is the latest to draw. european data giving us reason to pause and think about what is happen

alix: good stuff.and tomorrow, we will bring you his interview with the rivian ceo coming up at this and :00 our. -- coming up at the 10:00 our. we will talk to bill dunkelberg, chief economist of the national federation of international business. this is bloomberg. ♪ if you have this... and you get this... you could end up with this... unexpected out-of-pocket costs. which for those on medicare, or soon to be, is a good reason to take charge of your health care. so consider this. an aarp medicare supplement insurance plan from unitedhealthcare. why? because medicare alone doesn't pay for everything. and what it doesn't pay for, like deductibles and copays, could really add up. even thousands of dollars a year. medicare supplement plans help by paying some of what medicare doesn't... and making your out-of-pocket costs a lot more predictable. call unitedhealthcare today and ask for your free decision guide. learn more about plan options and rates to fit your needs. now if you like this... greater freed

alix: i am looking at the chart. for example is outpacing since their rally started in june. lourenco: your timeframe is since june? alix: i'm looking at the whole year. since the last quarter, you have underperformed. lourenco: i'm trying to buy u.s. steel. i trade at 5.5 and they trade at three something, so i'm given the shareholders of u.s. steel immediate multiple appreciation that they have been pursuing for a long time. by the wake of that is a great company but it is number 16 in the world. they will be number 17. guy: i want to come to this question about the role ups. is this the last you can do with u.s. antitrust issues starting to grow? you are going to be a giant in the united states. you will be able to compete. will you be able to get bigger after that through acquisitions or is this the last big deal that you can do? lourenco: that is a difficult question my very premature because i have not cleared this yet. particularly because my track record is to do things and create jobs instead of eliminating

alix: thursday in august.olume is up, but you can make the argument that you are putting on positions, going to the beach, check on it on monday. guy: it doesn't bode well for volumes tomorrow. the weather is nice tomorrow. we have seen the data. is the summer of disinflation now over? let's bring in birthday boy mike mckee and strategist simon white. you are the birthday boy, so you get the first question. mike, let's talk about inflation , a different kind of inflation. the inflation numbers we see today, what does it tell us about the longer-term trend? we have seen disinflationary tendencies in the recent data. is the delta changing, components changing? many in the markets to believe there is a significant danger inflation reaccelerating from here. mike: i think you put your finger on it when you say is the delta changing? there were a lot of categories that showed inflation but the month over month change, percentage gains have gotten much smaller. it is not so much a question of things that went down, a

alix: fiscal. the u.k.t have a, europe is like a malaise go through all of the roles and think of it. the u.s. is should first, questions later. i wonder as we go forward is that going to shape monetary policies. guy: the u.s. economy has been driven by fiscal at the moment. we have been hanging on for a long time. thanks so much for joining us. let's check with european stocks. more positive narrative coming out tech has done relatively well today. we faded as we come through toward the end of the day. coming up, we will be talking about what is happening with china. morning of demand uncertainty. we are going to hear from the company ceo, next. this is bloomberg. guy: this is the bloomberg markets. coming up, zooms ceo joining bloomberg technology at noon in new york. that is five in london. this is bloomberg. one of the stand out stories out of europe today, what is happening in the mining sector? the company says the outlook for china is in the area of uncertainty. bhp ceo telling bloomberg that the com

alix: over an hour into the u.s.ng session, abigail was dragging those moves. >> we do have the s&p 500 slightly higher after being slightly lower earlier. investors trying to make up their mind. a little bit of the game for the nasdaq. we do have some strength for technology and discretionary in particular. the golden dragon china in the down 1.3%, perhaps a loser simple the their for the situation in terms of duty and bond. he believes it will remain largely contained to china and chinese movers beneath the s&p 500. let's take a look at what is going on. nvidia somehow put up this stealth decline over the last several days of about 15%. morgan stanley sang an attractive entry point have earnings. paypal naming a new ceo, alex chris of intuit taking over for dan schulman, and he will be starting on september 27. shares her spine nicely. tesla down 1.9% on the story that you were talking about with the price cuts in china, and then schwab down 2.7%. the company saying they are experiencing temporarily lower net flows

alix: to your -- alix: if you look at the pca today, entertainment and services, but is taylor swiftnd -- barbie -- that is taylor swift and barbie. michael: movie ticket sales have been skyrocketed -- have not skyrocketed. we saw some rises in the year over it was base effects. we are getting what we expected out of it and services x housing did go up one half -- .5%. it is probably reversed given that a lot of that wasn't just taylor swift but there was a lot of increase in the past two months in a mutual fund -- in mutual fund conversations. -- compensations. have central banks done enough in the u.s.? it is an open question but the answer seems to be probably and you have rafael pop -- raphael bostic saying let's wait and see what the lack of effect of the previous increases will be but we are seeing inflation will in the right direction even without that. even someone who told us last week that she thought he probably would need another rate hike said if we see progress, we probably don't and that is they will skip september and wait until november and by that time, we will have

alix: which you do. questions stop you are really critical about larry of blackrock in your book, particularly the esg movement. you are instrumental in trying to move the anti-woke sentiment is that over. you think there is more room to run to push against esg or do you think things have stabilized? harold: i think everybody got critical of what was going on with esg. they suddenly realized how bad that was for business, how bad it was for consumers themselves. that should not be happening. there has been a tremendous amount of pushback right here in oklahoma. our treasurer decided any banks that will not deal with oil and gas, some of those put in calls to me to talk to our state treasurer. i am not going to do that. they got themselves in that box and they're going to stay there. it is not a popular thing. everybody realized how harmful and detrimental that was to single out anybody like that. and try to use those practices. it is not good. alix: another part of the book is politics and how the govern

alix: i am wondering what changed. none of the other data we have gotten would mean everyone is freaking out and tightening their belts. put that into perspective for us. dana: what is different is consumers are paying more for gasoline and they are paying more for food. those two things put a damper on consumer finances which were not as great as they have been in the survey currently and looking ahead to the future. that is definitely different. and in the labor market data we are going to get payrolls this month. but payrolls last month and revisions have been revised downward. consumers are hearing about this and we think they are getting more concerned. also, consumers are probably concerned about what they are hearing in the stock market. banking stocks are down because of downgrades and maybe that is feeding into the psyche. we did not ask that question but it could be a factor. dani: you did not mention but i have got to imagine mortgages must feed into this. past 7%. the housing market feels essentially frozen

alix: yes. particularly to any sort of foreign buyer like china doing something different because they have to support their own currency. i'm wondering the rising yields and the effect intact. we look at their numbers but. jess: data center revenue has to be what is pushing that stock. it surged in the latest quarter so that something we are looking at and also for its peers. looking at a lot of ai measurements for these companies. again looking at positioning looking at a call line. it's at the lowest it's been relative to puts in over a year. investors are cautious here. >> talk to me about, the battle raging at the moment i like the ai story. i want to be taking part in that but i'm aware of the fact there's this higher yield environment which is eroding the foundations on which that's built. which of those things by the end of the week which of those forces represented by tech and nvidia do you think will come out on top. >> it depends just how far yields are rising. if you think about last

alix steel is in new york. the bond selloff in germany continues after hotter inflation data for some regional areas of germany and the overall cpi figure. the fund at the start of the morning was up about five basis points. trading off yield differentials. when are we not for this affects market? we are looking at a stronger euro by 4/10 of 1%. we are trading over the 1.09 level. when do we start to worry that the ecb cannot hike because of the dismal data coming out of europe? european stocks down to about 1/10 of 1%. the biggest drag on this index is an energy wind turbine company with issues from the u.s.. it is such a telling thing when the third most read story on the terminal is about the danish wind company. is there nothing going on today? alix: it's a really good story. i could read about it all day. point taken. if you are dealing with the worry of growth, we are looking at the weirdness of the economic data and you can see that reflected in the markets. a second quarter read coming in softer but you

alix: and what the repercussions of that would be. joining us to break it down is lindsay judge for bloomberg intelligence and abigail doolittle. abigail, i want to start with you with market impact and terms of wework. what is the potential trickle-down? abigail: i do not think that there will be much from we work if they go under. it seems that stock is priced down from its ipo price. more broadly from the office perspective of the areas of the commercial real estate area, and terms of the question of whether there is a crisis at hand, for office are challenges. for broader commercial real estate, that may not be the case because office accounts were about 17% of the $4.5 trillion, but it is clear occupancy and vacancy rates -- vacancy rates are high. in new york city, the highest since being measured in 2024 -- in 2004. it is thought that class a trophy space will be ok, even though we have seen high-profile default from lock stone, brookfield -- blackstone, brookfield. there is the thought that these big property owners are going

alix: so what cracks it?: we like fun, cute little things and we have our home decorated and feel that spirit of excitement. alix: nothing is going to crack me is what you are saying. fair enough. we appreciate it. really interesting to see how long all this can continue. anjee solanki of colliers, think you're much. guy: sorry, what are we talking a here? small christmas glasses? alix: the good home goods and they go to the section with the cool christmas plates or random placemats. let's have santa goblets. i'm not saying i have santa goblets but you can get them at home goods. [laughter] you don't think you want santa goblets for your big ham? guy: asante goblet. i've never -- a santa goblet. i feel like i'm missing out. alix: i don't have one but i want one. that is my point. you can buy those things on the cheap and there you go. one stock we are watching his life sciences. a huge pop yesterday. a big drug briefly when it comes to alzheimer's. this is bloomberg. ♪ oh, booking.com ♪ somewhere, anywhere...

alix: john deere stock is up 4%.ates and increase their outlook for the rest of the year. what is going on the stock? joining us is brooke. what gives? >> it is a question of is this as good as it gets. john deere has been in tears and they keep impression -- keep impressing. a lot of this is driven by price. you have to wonder at what point had farmers absorbed all of the price increases that they're going to, especially looking at crop prices over the future, the outlook is murkier. guy: is there longer-term trend here that continues to be a big feature of the landscape? it is hard to find labor. the more you can automate, the better it is. brooke: that is definitely true. that is why john deere has a much pricing power, it is upgrading technology, adding automation benefits, huge pop committee savings. we see that in the factory sector with a number of companies -- with greenfield investments. we talk about the reassuring boom or whatever you call it, those factories are going to be very heavily automated. he see

alix: i relate to shoes. we know it's is this the next shoe to drop? when does this shoe, finally drop? alix: i relate to shoes. we know it's coming because we have seen higher prices and rates and how it books like his like his the real question. the trickle down from the developer could be interesting. guy: like his the real question. the trickle down from the developer could be interesting. guy: property is related to the rate story, once you start seeing down valuations in key properties you can use that as a relative valuation valuations iy properties you can use that as a relative valuation proxy and you start to get cloudy. our question of the day. is the shoe going to drop? and related to the moody's downgrade story? sonali: there have been trickles in the market to this point, the banking system has been a huge lender to the real estate sector, especially commercial real estate. this causes problems for companies trying to refinance. a story of how lenders are day. is the shoe going to drop? and rela

alix: eddie, what say you? >> i think the onvia's answer for me when i think about this would have been stocks but i think if we dig down and say we talk about the higher for longer, not just high rates but high rates that stay there for longer, why are we doing that, why are we seeing that? we see that because the economy is strong, general economy, u.k., u.s., and europe, continue to be strong. and inflation therefore remains high. what assets do well in those atmospheres? it is your retailers, your companies that can raise the stock prices. they will do fairly well. it will take stocks that are so highly leveraged on future growth, i think they will struggle and some of that is what we see today, but at the same time, prices do badly and gold prices do really badly in that environment. i think there's a lot more pain to be had. guy: i just want to talk a little bit about the big tech story because big tech has lots of cash and cash has a value right now in that kind of environment area did i hear what you ar

alix: yeah, exactly.d by not a terrible winter, but what is going to happen this time? do you feel like the urgency is there? i go back to the price signal. if you look at the long term chart the last two years, you are not adding the same spike you would've thought if we were in dire straits. is that complacency, or is this an idea we can manage this? anna: europe is in a better situation now. some new supply deals have been signed up. europe has a new lng terminals to accommodate the flows. much still depend on competition with asia. you still have to have supply coming in. the actual price level will depend on how severe any disruption is, how long it lasts , if it coincides with other factors such as the weather and elsewhere. we could see potentially higher prices if all these combined in one go. guy: thank you very much, indeed. the gas story. let's talk about what else is happening in europe. we will talk quickly about what is happening today. the stock continues to fall moving on from the gas stor

alix steel is in new york.

alix: it's alix in new york. that seems like a pause for september.te be a pause for september and if so is that a peak? gov. centeno: well, you know, we have been data dependent in our decisions. there's plenty of data still to be made available until the september decision. we have a new forecast. that forecast will tell us precisely how we see this transmission of our decisions into inflation and the economy going on and we will decide in september on that -- in that regard. but it is important to keep in mind that inflation has been falling faster than it had. we have been successful in our mission so far. it's probably too soon to call it a done deal but we certainly will have to focus on these numbers. guy: you talk, governor, about the fact that the transmission is not happening, that your policy is -- is now happening, that your policy is impacting the economy. how many of the hikes have already -- how many of the hikes that have already been delivered to you think are impacting the economy and how much is still to be felt in terms of the poli

alix: the euro-dollar is interesting. s&p up 3/10 of 1%. we have personal spending coming in stronger, and come lighter. core inflation coming in. some really fun stories within the equity market. dollar general getting crushed 16%. their guidance is not good. they cut their net sales and earnings guidance. it was a inventory issue, theft issue. at amc, this is just fun. some may think of it as a meme stock. taylor swift is going to put her swift in film. it is a great way to get people back into the movie theater. if a barbie is doing it and eventually you will go to taylor swift. the bloomberg dollar index is up to tenths of 1%, part of that is going to be the yen. the yen seems to struggle as a good until the -- into the end of next month. it is something to keep and i on. danny? i want to go through with inflation data has looked like. i am going to tea it up for you as to why the market did not trade how you expect it to given the data. we now have the regional cpi's in hand for europe. if you look across the board, first spain we are

alix: but we are still seeing the government spend. interesting we are seeing the connection made between government and climate change. other areas around the world, particularly in the u.s., are putting a lot of money on that. that is interesting that he has proved it. guy: we are going to watch with other ships. inflation stays higher. have the markets and a central banks go back to that. as talk about some things we are watching in the european close. a bunch of single socks. and a macro raid. the reason i bring the chart of his look is he the one year. it is up by nearly 70%. talks about the changes happening in the company but the consumer as well. there are a few out there that we are focusing on. it is not all one-way traffic at the moment. the market is reasonably well balanced. you have a market going sideways. anglo american is the one i wanted to highlight. these were all 52-week lows. they are chopping around but this is a market fighting direction hard to figure out. the closes next. this is bloomberg. wow, you get to wat

alix: they have a lot of it.inguished fellow, former ceo of sub-saharan africa for goldman sachs. how different a summit was this? this is a group that feels like it wants to have bigger ambitions trying to pull in lots of different countries now to increase its footprint and its ability to leverage power. was the vibe different to the one you expected? >> it was a critical moment and feels like the geopolitics of the world is very present. we are in the room with delegations and leaders who were there at the end of the day when it was opened by president xi jinping on the first day he warned of the potential pressure of civilizations and was clearly referring to the united states and china's standoff in the world which dominates the brics because china is 70% of the block. with the expansion today there's $3 trillion of gdp added by the six countries that joined to the existing $27 trillion. china remains 70% of the combined block. they are very much dominant. you feel the resurgence of india in the room and the

alix: he sent together. if you say is a neutral rate, that will matter and jobs will affect the rate and pricing at 6% for fed funds. what is positioning? it is hard to know what to make of the different reaction in the markets when positioning is so light? how does that factory? ven: markets are right now convinced that the fed is almost done with the rate hiking cycle. they think that the chances of the u.s. economy, something in the u.s. economy is dropping, is higher than the fact going to 5.75% or 6%. that is the risk that the markets have consistently underpriced. at the start of the year, we were talking about rate cuts and the second half of the year. that will not happen. they have kicked the can to the first half of next year. that is a work in progress. until we see the labor market coming to bounds, they are not positioned for mates to shoot higher from here. not so much beyond 6% but at least for me next two rate hikes. dani: it is not only u.s. data, we already had some japan data, jobless rate

alix: is this just an excuse to sell?e have a deal with italian banks and their lending capabilities, but are the headlines an excuse to sell? guest: it's a very good point. to think about that properly, we need to think about helpful investor -- positioning has become. soft landing has become consensus. investor positioning is that much more full. we think about hedge funds, shorts of been squeezed aggressively. banks have been big performers. real estate also energy. we are in a vulnerable framework and there comes a time when we are going into a seasonally thin the quiddity time. -- then liquidity time. the market is becoming much more susceptible the negative news flow and as you say, it is being seen as an excuse to sell. guy: what is the degree of certainty out there? when you talk to clients? are they convinced they are on the right track? what is the market perception of what it season for -- in front of it at the moment and how positioning stands to do with that? guest: investor conviction is quite low and reason

alix: ok.n way before the ira, even before biden became president we started this project. it is the fact we produce probably 1.7 million barrels of water per day with our oil, so if you look at the permian basin, the permian basin is producing well over 10 million barrels of water per day, and we are all trying to figure out how to increase profitability, including the water we produce. guy: that is apsley fascinating to think about how the chemistry works around that. rich, we've got the job number coming up on friday. let's talk about what you are seeing. what type of inflation rate are you experiencing right now? is it coming down? what is happening with labor as well? it is happening with wages? give us what is happening at the pointy end of this company. what are you doing to get the stuff you need out of the ground? rich: great question. labor has been pretty sticky in west texas. we haven't seen the rate count come down that much in west texas. so, wages have been quite sticky in west t

alix: i need the cowboy boots now. you don't want to overdo it in new york but i think the ankle boots will help the top and the bottom. guy: the top down bit is germane here. it is a top-down market, we are getting back to macro. you and i have been talking about earnings over the last few days. i know i'm going to get some hate mail here but i'm not sure they do matter. up above a single stock level. thus far this year u.s. stocks massive outperformer's. -- massive outperformance. we are heading back into a story where macro will matter. talking about soft landing over there it doesn't feel like we are having the same conversation in europe. i thought the europe earnings season would be really hot. last week rescued it. i thought that would confirm the big discount to u.s. stocks. i'm wondering where we are. are we in a position where european stocks can improve from here, i'm really struggling with that narrative. that does matter. alix: it's still a landing, even if it is soft. you are seeing any earnings outperfor

alix: it does. guy: let's hope for a quiet one. i will be back tomorrow, alix, not so much.s is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh when people come, they say they've tried lots of diets, nothing's worked avalarahhh 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, weight loss is easy. i always thought it would be so difficult to lose weight, but with golo, it wasn't. the weight just fell off. i have people come up to me all the time and ask me, "does

alix is therefore an interview. great hat. bloomberg. ♪ ♪ (upbeat music) ♪ ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) -awww. -awww. -awww. -nope. ( ♪♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall. kailey: stocks are down, yields are up here that is the story of the day today. s&p 500 down half a percent but the massive moves are in the bond market. a 10 euro treasury move up 11 basis points. the highest level we have seen since november as selling pressure builds in the bond market. where we are not seeing selling pressure is an energy and oil. new york crude, wti up by 1.4 percent, back above $80 a barrel , after the saudi said they would extend their voluntary cut of a million barrels a day through september, and that could be extended and deepened. that is lifting energy by extension. s&p 500 energy index, and outperformer today by about 1%. guy: kailey has been kind enough to join us today because alix is on assignment in oklahoma city for a

alix: are we going to learn that tomorrow?king about sticky inflation. we will see it fall away quite quickly. timber and lumber it's falling in the u.k. as well. we've also got falling prices and deflation. i think what you've seen from these last three or four months is build cost is really changed. the rate of inflation will stop quite markedly in the second half. guy: in terms of what the trajectory of the housing market will look like. -3.8 year on year, what do you think this looks like? how far through the process do you think we are in terms of price declines. aynsley: we'll was thought house prices in normal terms would be down 5% to 7% so we probably are 40 or 50 or 60% the way through that. the question depends on what interest rates do and if we are seeing swap rates back we have that visibility around the peak interest rates, mortgage rates around 5.5%. probably stick to that view. inflation stays sticky, interest rates go higher for longer and then if the unemployment market starts to shake that's when europe see

alix: does it affect how you spend money?ess oil because you have to pay more in interest? harold: absolutely. it affects our cash flow and our ability to spend in the field. kathleen: that was harold hamm speaking to alix steel. be sure to tune into bloomberg radio to hear from the big newsmakers. they are broadcasting live from our studio in hong kong. you can listen as well via the app, radio-plus, or bloombergradio.com. plenty more ahead. ♪ let innovation refunds help with your erc tax refund so you can improve your business however you see fit. rosie used part of her refund to build an outdoor patio. clink! dr. marshall used part of his refund to give his practice a facelift. emily used part of her refund to buy... i run a wax museum. let innovation refunds help you get started on your erc tax refund. stop waiting. go to innovationrefunds.com you really got the brows. haidi: china's growing presence and influence in the pacific is prompting new zealand to update its defense and national security strategy. paul allen join

i am here with alix steel. warner bros.&p 500's worst performers in today's session. the company is delaying the release of the dune movie sequel as hollywood strikes impact the timelines. it is launching a cnn streaming channel on its max platform next month read let's discuss with bloomberg. jerry, what is the significance of this? >> this is a big deal. they had some slow starts in the streaming world. they had a cnn plus product that is scrapped after about a month. now, it is starting to get into the streaming game in a meaningful way. >> how is this? is the stock movement a reflection of the cnn mac situation or movies getting pushed out because of the writers strike? >> it is more of the latter. cnn having a bigger presence is not something that is going to move the needle for warner bros. discovery stock. i think that there is -- with the hollywood strikes going on, the timing of movie releases is something that investors are very interested in. >> is the reaction because we thought that the strike would be sort of

. >> reporter: for two weeks there had been no sign of 31-year-old nurse alix dorsainvil or her youngghter named haven, but today el roi haiti, the christian charity run by her husband, confirmed their safe release writing today, we are praising god for answered prayers. >> we express our deepest appreciation to our haitian and u.s. interagency partners for their assistance in facilitating for their safe release. >> reporter: tonight el roi asking for privacy for the young family it is unclear whether they will stay in haiti, a country alix considered her adopted home >> my name is alix i'm a nurse from new hampshire, but now i live in haiti. >> reporter: in a video posted on the organization's website before the kidnapping, alix speaks glowingly of the people and her work caring for children at el roi's school with her haitian-born husband. >> i'm so blessed to be able to know so many amazing haitians. >> reporter: but on july 30th, the organization reported she and the couple's child were taken from the port-au-prince campus it was the same day the state department issued its highes

alix: definitely not.mpany today, they will talk to you about how much money they are spending on things like carbon capture. just because they are not necessarily going to be green or buying wind or solar does not mean they are anti-green. there was a great piece talking about how much money will have to be spent on the energy transition, we are talking from $300 billion now to 14 trillion dollars in about 10 years. this is a lot of money and that is where a lot of oil companies are doing other stuff, whether it is carving capture, looking for the theme or using their technologies. we talked to scott sheffield yesterday, he was talking about finding lithium minerals and water. harold hamm said there is no way he is doing lithium, he is finding oil and he thinks there are legs for the anti-e's g momentum. here is part of the conversation. harold: i think everybody got critical of what was going on with esg. they said they suddenly realized how bad it was for business, how bad it was for the consumers. that

the abduction of alix and her child reportedly happened the same day the u.s. reissued a warning to americans in haiti, telling them to leave immediately, because of escalating violence. this comes as the u.s. says they will support a u.n.-backed multinational force led by kenya to help train and assist haitian police so they can restore normalcy in that country. david? >> david: all right, stephanie ramos tonight. stephanie, thank you. >>> we turn now to the war in ukraine tonight. a deadly russian missile striking president zelenskyy's hometown. an apartment building hit. several dead. and russia making it clear, this is retaliation for drone strikes in moscow. ian pannell in kharkiv, ukraine, tonight, a city also under attack. >> reporter: tonight, the terrifying moment a russian missile strikes, captured in video circulating online. the target, president zelenskyy's hometown. but this wasn't a military site. it was innocent families at home when a missile tore a hole through their apartment block. once again, russia has struck a residential building in the

a country alix considered her adopted . >> my name is alix. a nurse from new hampshire, but now i live in haiti. >> reporter: in a video posted on the organization's website before the kidnapping, alix speaks glowingly of the people and her work caring for children at el roi's school with her haitian-born husband. >> i'm so blessed to be able to know so many haitians. >> reporter: but on july 30th, the organization reported she and the couple's child were taken from the port-au-prince campus. it was the same day the state department issued its highest level travel advisory for haiti ordering nonessential personnel to leave. unicef reporting a sharp uptick in the kidnng of women d childrnear the firalf these are groups over the past f actualxpanded their terry and extremely mo gressive. >> kri joinie the studio. do wow if a ra was paid in this case? >> reporter: right, lester. these gangs commonly ask for up to a million dollars. in this case we just don't know and may never know. it's unlikely anyone including the state department would want t

. >> my name is alix.he safe return of her and her child. according to the faith based humanitarian group, the two were taken by captors from the organization's campus located near port-au-prince. that's where she had been working as a school nurse. and her husband, sandro dorsainvil, is the director. >> sandro invited me to come to the school to do nursing for the kids. >> reporter: the two were kidnapped thursday, saying in part, alix has worked tirelessly as our school and community nurse to bring relief to those who are suffering. outpouring of support also coming from the school, where she studied nursing. >> alix is very compassionate and cared very much for people who had great need. she was definitely a very special young woman. >> dorsainvil and her child taken in the midst of ongoing gang violence, which has overtaken much of the country and forced thousands of haitians to flee their homes. the biden administration says they are closely monitoring the situation. >> we don't want to do anything, s

this is alix dorsainvil.ian humanitarian organization that her husband founded. in a video for the aid group, she described what working in haiti meant to her. >> haitians are such a resilient people. they're full of joy and lifend love, and i'm so blessed to be able to know so many amazing haitians. >> the organization now says that alix and her child were taken near port-au-prince thursday morning. that's the same day that the state department put out a new warning telling all non-emergency personnel to leave haiti, given the situation unfolding on the ground. joining me now is the executive director of unicef, katherine russell. i know you were just in haiti, just left there last month. what is the situation like on the ground? >> the situation on the ground is really quite desperate. there's so much violence everywhere. there are armed gangs that are sort of patrolling port-au-prince and terrorizing everyone who lives there honestly. and now we're seeing vigilantes forming in response to the gangs. so, th

>> from the financial centers of the world, this is bloomberg markets alix steel and guy johnson. ♪ alixit's 30 minutes into the u.s. trading day on friday, august 4. here are our top stories. payrolls puzzled july jobs coming in the lowest since december 2020. with unemployment rate down and consumer wages hot, what is going on? and we look at how the data impacts the monetary policy path. and we have an exclusive interview from aspen. with apple the market value is said to drop with concerns over its sales outlook. amazon soars. from washington i'm kailey leinz with guy johnson area but come to bloomberg markets, happy friday and happy jobs day to you. guy: i'm not sure i am happy about what has happened with what we see today. this week has been about abbasid -- massive move in the bond market. is this because of the payroll number or because everyone has been selling all week? that is critical. and then you look at the wage data you had lot -- highlighted in the headlines, does that tell us the fed will struggle to get down to 2% anytime soon and if that is the case, should the bond

alix and her daughter were released. they recommend americans not travel to the country. in our chief white house correspondent peter alexander. what more do we know about how this release actually happened and what was alix doris yen ville doing? >> we do know that they were kidnapped last month near the organization that the mom was there for. christian ministry, mere port-au-prince, haiti. this is new information that we've been hearing now from the christian ministry itself. it was an organization that provides education to about 390 students and hosts. other ministries, we know that dorsainvil and her daughter are from new hampshire. she was there as part of her relationship. her husband helped found this organization. it is el roi haiti. the king haiti, it means in french. she was a community help nurse. she married the group's founder and had been serving in that ministry for quite some time. we're hearing from the ministry that said we praise god that he has proven himself faithful as he supports and restores alix, the ministry, and the community that it helps wit

well, earlier i spoke with former wales international alix popham, who was diagnosed with early onsetin 2020. he's welcomed the world rugby�*s appeal adding that farrell always gets off lightly. i think it's a positive decision that they've done this. there's been an uproar, i think, in the media over the last couple days that the red card was downgraded to a yellow, and it's the right decision. this hasn't been a pleasant couple of days reading all the stuff on different social media platforms, and yet, he needed to happen. he's a serial tackler, with regards to these types of offences. he's very physical player — i like that about him, but he hasn't learned his lesson, and to me, the punishment hasn't been severe enough for him. he always gets off lightly with the number of weeks or games that he can't play for. it's positive world rugby have come forward, but when it was turned from a red into a yellow, that's not a good look for parents who are looking to send their kids to rugby practice, and showing its allowing tackles like that to go ahead — the kids will be watching it, and t