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i'm matt miller with amanda lang.e talking about for the break, on holding is now trading. shoemaker pricing at $24. it's a 50% right now. you can see 35.94. the company is backed by roger federer, tennis superstar. one of the greatest tennis players of all time. we will be talking to the ceo of the newly traded shoemaker in the next hour. let's talk about safely returning to schools and offices. so many of us are doing it or hoping our kids do. services like cleaning and facilities management are huge part of that. abm industries is a provider of those services and recently reported earnings that beat on the bottom and the top line. they raised their guidance for the year. joining us is the president and ceo. how much work do you have now than you had in the same period as 2019? >> thanks for having me. that is the good news. we reported double growth on the top line. aviation was up over 50% from this time last year which is a really good sign and momentum that people are feeling safer traveling and being in airport

. ♪ amanda: i'm amanda lang. welcome to bloomberg markets. alix: i'm alix steel. me our bloomberg and bnn bloomberg audiences. amanda, welcome back to the studio. you have prompter. this is a game changing moment. good to see you back in the studio. here are the top stories we are following from all around the world. stocks in the red as yields continue to search. investors digesting a study menu of news. home prices falling and nervousness around the fed and the debt limit. and amazon's hardware lodge is underway. we will discuss with david limp. and the latest on the energy crisis in europe, and the risk of a spillover. we will have insight from a fellow at rice university. amanda: we are seeing major downdrafts across the board. energy is a minor bright spot as we see the price of commodities march higher. at the bottom of the screen is a 10-year yield, 1.52. it is the pace of the increase that is gathering attention, not just the level. rotation out of some of the leaders in the markets, so some of the biggest moves are in those faang stocks, 3% moves with goog

i'm amanda lange alongside romaine bostick.eet is moving on news it will spend $3.5 million to acquire business from brown brothers harriman. in terms of what is driving the deal, is this about scale? >> it is about scale. the custody business, which is state street's main business arm is a scale game and they are one of the largest players. it already has $32 trillion in assets under custody. this would add another 5.4 trillion in assets to that. romaine: it makes sense of to why they would do this. they've done some other acquisitions and i wonder what the endgame is. is this expanding their existing business or are they trying to run their reach? >> there are some benefits to scale, including things like licensing fees and acknowledging costs you can put together with these two businesses. but another aspect of the deal state street touted in its call was it would give the firm greater global reach in areas like japanese investors, for example. it gives more of a global scope to state street. amanda: given scale is driving t

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this is amanda lang. sport radar coming to market.sively upday for the company but a big valuation of $8 billion, hoping to capitalize on a growing sport betting business in the u.s. of course, we have with us the c.e.o. and founder of sport radar. business has some big backers, carson. what's your advantages? it's a big market, fast growing and we know there's a lot of opportunity here. you provided some of the data and you have, of course, you can help teams manage their own data. is that your advantage in this? carson: based on this data we apply algorithm, machine learning, a.i., who make products for our clients to do a good business. sport betting operators, they need probabilities. they need to manage risk. they need to do programmatic. the data we have as a raw material. taylor: carsten, talk about the i.p.o. that didn't work out? carsten: we have been running a duo-tracked process from the beginning. if you run those two tracks, it paid off for us. i had to do a decision at one point in time which was in the interest of the s

i'm amanda lang.o bloomberg markets. matt: i'm matt miller. we welcome our bloomberg and bnn bloomberg audiences. here are the top stories we are following for you from around the world. we will go live to the greenwich economic forum and speak to kip devere on the state of the market, and prime minister justin trudeau wins a third term in canada snap elections. what that means for the economy up north. and the latest on the energy crisis in europe, as it is set to worsen in the u.k. as a grid operator delays the start of a key power cable from france by almost a month. amanda: certainly a better day for the markets today, coming off of that huge decline yesterday. we even saw in the last 30 minutes of trading, you often have big bounce backs. you are not see momentum move hired. moves are small but they are broad-based. we got the faang groups in the middle of the pack today. interestingly, the subgroups that are doing the best today, albeit in a muted fashion, are the right sensitives that were doin

i am matt miller with amanda lang.at the biggest business stories in the news right now, starting with microsoft pulling back on its plans to fully reopen its headquarters. they will not set a new date because of the uncertainty around covid-19. microsoft will instead move to a 30-day transition approach and notify staff with lead time when it is ready to reopen its offices. last month, the company said it would require all employees to be vaccinated against covid-19. amazon is unveiling its first line of televisions today. the company will offer two lines of tv's starting at about $370. they go on sale next month, stepping up the fight with roku and google to control in-home entertainment. amazon has sold more than 100 million fire television devices. and sidenote, amazon also pledged today to pay for employee's college tuition. facebook has teamed up with iconic sunglasses maker ray-ban for its long-awaited smart glasses. the shades are called ray-ban stories, using the classicwayfarer frame and allows users to take

i'm amanda lang. it is time for stock of the hour.tching freeport-mcmoran and, in something of a roller coaster over the last couple of sessions on concerns about chinese growth, that is having an impact on copper prices. dave wilson is here with the bigger picture. dave: that is the challenge, seeing the picture. the last few weeks with copper, it really matters for freeport because that is where they get three fits of their revenue. not really going anywhere in the end. you had the potential for a strike in chile. that seems to have been worked out. now you have the concerns of debt issues, what that will mean for copper demand from china. you put that together and you see the price on the london metal exchange going nowhere. why does it matter, what is happening in china and every grant? copper goes into housing, wiring, everything. 70% of the copper around is used for that. all the equipment carries a bigger share. certainly other uses but construction is a big one, no question. when you look at freeport, this is a company that ha

. -- i'm amanda lang. alix: i'm alix steel. hitting the highest level since 2016, the crude market tightening amid global energy crunch. we will break down the potential domino effect. crypto crackdown could we will talk about regulation with yoni assia . in the sports collecting boom, trading card to nfp's have drawn interest from investors, even hall of famer grant hill will join us live. we look forward to that. amanda: a more muted session today after equity investors, a mixed picture. we are seeing strength in the s&p 500. leadership on both sides of the border. financials doing well, materials and industrials. it is the leadership of the markets that are soft and that is perhaps investors mow over what the federal reserve had to say about the path to tapering and a hawkish tone from the fed could we did get some reaction in the 10 year. you can get back to the place where you can see some minor rotation in the markets but as people will point out, still not being paid for the inflation risk. there may be a ways to go on t

i am matt miller with amanda lang. our main candidates across germany are on the second last day of campaigning before the election to determine who will succeed angela merkel as chancellor. last night, for the filed debate of the election, here is a look at some of the highlights. >> europe is looking at germany and more governments will be formed. >> we have to make sure together, with france, we are progressive. >> i want to make sure that we create a united european approach towards china. >> we are the big country in the middle of the european union with the biggest population and the biggest economic strength. >> we need to start projects together, also arms projects, to act when the united states steps back. matt: shorting us now is john kornblum, and he has held many roles in his career, including being ambassador to germany. that was under president clinton. thank you for joining us. it strikes me as, i may be a bit of a senate, but almost every statement that we just heard was something that politicians don't

i am matt miller with amanda lang.hares of academy sports and outdoors reported second quarter above-average outlooks. let's bring in the ceo ken hicks. what is driving this surge in earnings? ken: we are in the fund business. that is what we sell. right now we need more fun, but when you look at the things we sell, they have to do with the trend towards wellness, being outdoors and having fun. that is what people are buying. amanda: what has your pandemic experience been like? we imagine a business like yours has benefited and it seems to have from the pandemic. however, retail has obviously been hit hard in the midwest and south. what are you seeing? ken: we were open all through the pandemic as an essential retailer, and we sat a shift in the consumer last year. people were buying things that were exercise equipment, camping , you know, and now they are buying or apparel, footwear, team sports, licensed apparel, but all of our businesses are performing well, but we have seen a shift throughout the pandemic as the cu

. >> i'm amanda lange, welcome to bloomberg markets. matt: i'm matt miller.the top stories we are following from around the world. ray dalio says don't miss out on china. the founder of bridgewater associates says there are too many opportunities for investors to ignore. walmart is selling $7 billion in debt including its first evergreen bonds. we will talk about the appetite for credit. and as the nfl season is set to begin, we will talk to the president and interim ceo of vandal. -- fan duel. amanda: we're looking at a down day across the markets. we are about 1.5% of record highs. for the toronto market, we are still close to record highs. -- all-time highs. yesterday, it was the leadership of the market that brought us to the record levels. today, they are the week spot. -- they are the weak spot. industrials are back in favor today. corporate earnings very much and focused. we are watching what we're hearing from companies about their outlook and the various factors at play. one big factor that will remain on the table for many will be supply chain issue

amanda lang is with us as well.ave combed down a bit from what we saw yesterday but i am not 100% convinced this is a solid rally. >> it is a question of seeing buying on the debt. we are seeing just about every subgroup in the s&p 500 in positive territory today. the exception is materials but a broad-based advance but tech groups are the heavyweights. that shows up on the nasdaq in negative territory. still this question on where rates go from here as we get pass from the fed. of course, commentary about the debt ceiling. we can't discount the fact that will weigh on the risks out there. of course, it does not weigh on the long end of the core -- carriers, but the short end. there is a fair amount of risk off mentality, but some analysts would say it is an important sign for the health of the market and belief in valuation. the senate is trying to move forward on negotiations for the stopgap funding measure to prevent government shutdown. this is a perennial issue. maya mcguiness -- maya macguineas, what happens -