this is what asml defined this as.am as many transistors onto a chip as possible, the small form factor. the relevance is that you know is that reporting last year about hallway and what they were able to do with the cutting edge --h huawei was able to do with cutting edge machines. >> the dutch government has banned asml from sending machines to china for a long time. huawei was able to produce a chip with its chipmaking partner using duv machines, i less advanced model that asml was allowed to ship to china. with the america government working on emerging du machines, there was a lag time on machines in the u.s. stepped in and said you need to cancel the shipment and those are the conversations that happened over the last couple of months. ed: interesting politics behind this as well. u.s. national security adviser jake sullivan phoned the dutch and says can you get asml to do it and the dutch say phoned them yourselves. make the request direct. >> who had jake sullivan reaching out to the dutch government and they s

asml has a complete monopoly over this market on an international scale.extremely vital to the chipmaking process overall. as i said, we know the u.s. wants to limit china's advancements in producing semi conductors. we saw the effects of that at the end of last year because huawei put out a smart phone with a seven nanometer chip that was seen as a bit of a breakthrough but they importantly had reduced -- had produced that chip with the aid of asml's machines. asml had in place three licenses to export three of its ultraviolet lithography machines to china by january. those shipments have not actually going to head. they were canceled -- gone ahead. they were canceled on the behest of the dutch government. the biden administration was pivotal in pushing for the dutch government ban. asml confirmed the bloomberg scope that came out over the weekend is significant to watch in terms of just how seriously the u.s. is taking china's capabilities in this field. yvonne: it's interesting, xi, telling joe biden he hopes into two nations can coexist peacefully but

ed: we break down the results from europe's most valuable tech company and hear from the asml ceo himself. caroline: partaking in a game of bingo. you have to listen into the tesla earnings call to win. that and so much more ahead. let's check in on these earnings. we are seeing reprieve money pouring in on the back of technology to outperform, the nasdaq is up more than 1.1% on the back of it. interesting thinking about china and whether or not stimulus is indeed to come. they will reduce those, reserve requirements will come down. highlighting what's happening at the nasdaq golden dragon. bond market pretty last -- pretty lackluster. move on to see what's happening in the world. what a ride we've had of late. today we are up again, 2%. let's dig into what's happening. ed: a lot going on in single names. texas instruments is the biggest maker of analog chips. it gave the sales outlook that frankly the industrial semi's, these are the most basic chips that do vital functions. europe's most valuable tech company, of these of the european list it shares. it's orders tripled in the quarter j

asml folding into the geopolitical story.ve been told not to shift some lithography equipment to china. that stock dipping on the back of the but demand remains strong. we are down by 2.6%. a lot of big things happening tomorrow that you want to pay attention to. cpi will be interesting in turkey. when does that peak? ism manufacturing survey tomorrow will give us some indications. job openings data, the labor market story building into friday and that payroll number. what was discussed and not surprisingly dovish meeting that we had last time, surprisingly dovish press conference? a lot of things happening tomorrow. actually quite a big week in terms of understanding what 2024 will look like. the let's start with that turkish cpi story. sonali: let's look at inflation data. after a series of rate hikes, we are looking at emerging markets. tim ash is with us. when you look at what is happening in turkey with inflation, how do you think through the trade? tim: the base affects means that inflation rises in the shorter term. th

without asml and our technology, that will not happen.y clear it's going to be a big driver for our business and the business of our customers. annabelle: that was the asml ceo peter winick speaking to tom mackenzie. trading in korea and japan opening shortly but sk hynix and its peers could be getting a boost. we have the korean memory chipmaker with earnings out, and surprise operating profit. we know analysts had been expecting lots to be tracking. tesla supplies will be a focus because the ev maker posted fourth-quarter earnings that missed wall street estimates so tesla is forecasting a slower pace of growth this year and working on the launch of next-generation vehicles. for the major suppliers into tesla, you can see, ibm supplies, a positive outlook for revenue and cash flow and you can see the stock tracking up nearly 8% in after-hours. coming up in the next hour, we will have blackrock investment institute telling us why they are neutral on china. plus, the latest from the region with natixis. this is bloomberg. ♪ get over here

shares of asml closing at all-time highs after its latest reports, taking the rest of the space with it. so, is this breakout for real? we'll debate that. plus, fit financials why the s&p set another record close. the xlf is breaking out to two-year highs one top analyst says banks are ready to bounce higher do the traders agree we'll find out maine lis is a leei'm melissa l, coming to you live from the nasdaq we'll start off with the nasdaq. cl and tesla. tesla grew just 1% in the latest quarter. the call kicks off later this hour phil lebeau joins us now on the numbers. phil >> the numbers are not encouraging if you are a tesla investor they missedon the top and bottom line. the company earning 7 is1 cents share. revenue coming in shy of expectations at $25.17 billion there is some encouraging news in terms of gross auto margins, excluding zero emission vehicle credits. the expectation was for 15.7%, as that gross margin figure, they came in at 17.1%. so, better than expected, actually, better sequentially than the third quarter so, why are people perhaps wringing their hands a lit

paul: asml's ceo speaking to tom mackenzie. coverage continues on daybreak asia.th us for more. this is bloomberg. ♪ that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. and it was easy, with a partner that puts you first. godaddy. >> tidelands deputy finance minister amplifying rate cut calls. he told us exclusively that high interest rates are holding back the economic recovery. >> the problem with thailand is the economic, economy growth of gdp, it is not where it should be. the past 10 years, the growth rate of thailand is about 2% only, which we believe with the capability of the thai people and thai economy and the current government, we plan to stimulate it and bring it up to 5% per year at least. >>>> the current central bank policy rate is 2.5%. does the government think the economic conditions are in place for 2.5% to be lowered? does that look too high given the reality on the ground? >> the current interest rate is quite concerning to the government. it is

the asml story is caught up in the geopolitics of the u.s.hina relationship and the context of ai. with asml jumping up the value chain, how do you view them and european tech in 2024? janet: we have asml on our individual equity list, primarily because it is a monopoly for these advanced machine making. with european tech, there are not a lot of choices if you look at the mega cap tech space. i think it is one of the few options that delivers promising growth prospects. in terms of geopolitics, i think the china risk is in the background but a large part of it has already been digested by investors. we already know they are not going to send high end chips to china. there has been some sensitivity to the stock price, but we have already digested it. the long-term structural d amount globally is exciting. that may not be fully reflected in the stock price yet. we have a continual constructive you on asml in general and the global chip manufacturing sector. ed: there are times when i sound like a broken record but we are looking at the fed and

looks like the dow would open up 75 points higher, but really we're talking about the nasdaq also asmlushing tin dex higher right now we're going to check behind yields. you see the benchmark coming in at 4.10, and we're also looking at oil this morning, taking a look at wti, trading at 74.75 a barrel, similar for brent crude. we've g ott to add one more to to our morning setup we're talking bitcoin. cryptocurrency looking to claw its way back just about 20 bucks under that level. keep in mind since the launch of the etfs, bitcoin itself is down double digits. that's your morning setup. >>> now we're going to our top story and big money mover. we're talking netflix. they've added 13 million subscribers in the fourth quarter, revenue also topping forecast, although profit missed they now have more subscribers around the world the company does not see ads as the primary revenue driver this year, but the streaming jiejt is looking to scale that business >> there's room for multiple players clearly, and when we think about how we compete for some of that ad spent, i think we need to play i

asml --we are learning that the u.s.hed the firm to block sales to china before the ban was in place. we will talk more about the market impact and what it means for geopolitics between the u.s., china and the netherlands stuck in between. the numbers are next. stick with us. this is bloomberg. ♪ (announcer) enough with the calorie counting, carb cutting, diet fatigue, and stress. just taking one golo release capsule with three balanced meals a day has been clinically proven to repair metabolism, optimize insulin levels, and balance the hormones that make weight loss easy. release works with your body, not against it, so you can put dieting behind you and go live your life. head to golo.com now to join the over 2 million people who have found the right way to lose weight and get healthier with golo. kriti: good morning and welcome to "bloomberg daybreak: europe." top stories to set your agenda. maer is halting shipments once again as iran sends a warship to the area after the u.s. destroyed three houthi ships. and a blow

we understand some countries got a head start on the restrictions, so what we heard from sources is asml, which produces euv lithography machines, very key to the chipmaker manufacturing process, they stopped some exports of three machines that had been in process, at the request of the biden administration. at the end of last year it was the story of huawei that managed to produce the phone rivaling apple's iphone, done with a chip made possible with the use of asml's machines. that tells you we did see china stockpiling those machines before the restrictions took effect. it is the response of how countries are trying to limit china's developments in this field. haidi: happy new year, but a lot of the same tensions, a lot of the same risks for markets and investors and challenges for china. we have much more to calm. this is bloomberg. ♪ yvonne: take a look at the week ahead as we begin a new year. we caught the australia pmi coming at 47.6, a bit of a disappointment. further contractions from the previous month. we have pmi readings across asia, along with singapore's fourth quarter an

european feeders pointing to a loss of 0.1%, after gains yesterday, led by the likes of asml and s.a.p., listed in germany. it was a tech-led gains we saw across europe yesterday. we are waiting when it comes to the u.s. for a slew of data, particularly the gdp print later today. when it comes to macro policy, it is the ecb that is firmly in focus. let's look at the cross assets board. one asset to keep an eye on is the oil price, given the continuing geopolitical wrangles around the red sea. oil is back above $80 a barrel -- brent. the inventories falling quicker than infected on in the u.s. a one-month high for brent. euro-dollar in focus given that we have the ecb decision. no change expected, rate affected to hold at 4%, but it is the guidance that will be important. the single currency at 1.08, the pound in focus at 1.27. oil at $80 a barrel. across the treasury curve, given the yields move yesterday, you are seeing yields coming in marginally around the five-year and 10-year, the 10-year at 4.15. there has been a positive session in asia. let's cross over to avril hong who is in

sideways movement in asml. big run-up at the end of the year with other tech stocks, but today, in response to the news, it is trading flat. >>> looking ahead, the first week of the year begins with markets on the lookout for key indicators. we had manufacturing data out of the eu this morning and we will have the uk numbers on "street signs." we will have the jolts data states side. on thursday, we have the final pmi print from europe and the u.s. as well as inflation for france and germany. we get the cpi print for the euro area on friday before attention turns to the nfp job support in the u.s. lots to look forward to this week. if you thought it was a slow one, you are mistaken. we have janet mui from rbc brewin dolphin. janet, i want to start off asking you the main narrative for the markets in 2024? it feels the narrative for the last month of 2023 was about anticipation of the rate cuts. what is the narrative for 2024 if it is not the same narrative for the final trading weeks last year? >> happy new yea

asml is the hot level, so the read-through is to nvidia.s using it and the reason i bring it up is because texas instruments reported a weaker number. that's lower end, that would not be this kind of thing. asml is the highest and finest, and you can take that as a read-through that the chinese don't want to be totally left behind, or you can take it as a read-through that a.i. chips are the strongest part and everything educatilse is just pedestrian >> everything else is moving on its own trajectory but nothing like that. >> texas instruments was their usual curt selves on the call. texas instruments and the industrial iot part. not good and then asml is the nvidia, amd part, excellent. >> right we should point out, it is a dutch company, but it's -- if you look at the history of it, it's u.s. technology >> exactly right >> that's why we do have an important role in saying no. >> gina raimondo, the commerce secretary, recognizes this is really important to people there are some chips that we can't let the chinese have i think that china ev

out of asml, we got great news. out of taiwan semi, great news.t suggests we should then hear great news coming out of the big seven and the oh tech names that are going to report. now, here's the deal, is it going to be as strong as both taiwan semi and asml made it sound? if it is, i think the market has more room to go. on the other hand, you could have that buy the rumor, sell the news type of reaction where you'll get the trader types that'll be locking in these profits that we've seen in these names. but as a long-term investor, that's not going to change my mind at all. i'm not selling any of the names they own even if they go up further or they go down. i'd buy more on the way downing i'm not setting -- selling on the way up. stuart: next week is a test of big tech. that's -- a.i., that's what this is all about a. >> that's exactly right. stuart: and and they'd better not disappoint. [laughter] >> i don't think they're gonna disappoint. stuart: okay. you're on tape saying that -- [laughter] so this time next week, kenny polcari, you're all

asml on the rise by more than 10%. a gainer in the semiconductor index. nasdaq 100 and getting so much love. some economic data showing encouraging lines for the fed rate path. abigail doolittle is here to explain. >> we do have pmis out for the u.s. manufacturing pmi back in expanding territory. it had been in contraction. the composite pmi for the month of december, i think that is a preliminary for january -- 52.3. from a global perspective, we still have some uneven economic activity. u.k. is in expansion. the eu below that 50, 47.9. the eu economy still in a contraction. germany a big piece of it. a little bit of an expansion in japan. let's break down u.s. pmi ahead of the ism release in two weeks or so. there is not an overall composite. there is manufacturing that has been in contraction in services. we are not moving in the right direction off of the pandemic peak, where we had the overall pmi close to 70. a booming economy off of pandemic lows. sort of trough lining here. but going into the 40's in that contraction area. the expansion on the 50

asml. rishaad: also the impact on china.hina needs these machines and seven nanometer, to make them more advanced. concern now they will step up the development of the lithography machines and that could be a problem going forward. there are some in industry who says it's a long path forward. rishaad: thank you. the first trading day of 2024. this is bloomberg. ♪ david: start of a frustrating year. probably a good time to look at projections. the plans have been thrown. china. this is a big take. doesn't seem to be a strong consensus. of course on the csi 300. rishaad: japan, diverging from the rest of the world. when, not if. there you go. deutsche bank, jp morgan, japan could be in outperformer. this enables them to elevate margins. 417 respondents. consumer>> some enterprises areg operational pressure. floods, typhoons. i am concerned. they are not afraid of hardships. overcome the difficulties. david: speaking of the economy. 2023 was challenging, resolute. a private gauge live manufacturing, make sense of the numbers. l

asml chipmaking machinery boomed in china despite an agreement to curb deliveries.kesperson for the national security council declined comment. russia shows half of the imported semiconductors were manufactured by companies like intel and others. ed: speaking with st micro, missing estimates showing oh week demand for industrial chips. down to 3.6 billion compared to four point one billion estimated. the stock is down zero .2%. this is bloomberg. ♪ ♪ ♪ ♪ ♪ ♪ ♪ there is no digital with our chips and i emphasize because everyone speaks about the digitization of the world. there is no green deal with their chips. it's a bit like the new oil for the world. given some of these geopolitical tensions between the u.s. and china, it has become a necessity to be more resilient against these geopolitical tensions and while finding it out the hard way during the pandemic. we have all seen key industries in europe and the u.s. in the industrial medical sector have f semiconductors. caroline: welcome back to bloomberg technology i am caroline hyde in new york. ed: i'm ed ludlow i

asml still has sales expected to slowed to less than a percent in the fourth quarter. really looking pretty positive. they are in the week, we will also have electronics reporting. the chipmaker is inspected to post earnings more or less in line with guidance made the driven by its highly automated exposure. >> that is the only one of the segments that are expected to have reported positive growth in the fourth quarter. despite a couple of warnings in recent weeks, analysts are fermenting pretty cautiously optimistic about it given how resilient chip demand has remained recently. >> we talked about this chip demand. the s&p 500 really ending at a record on friday because of that tech driven rally. the it is usually not the leadership we see. erickson, nokia, they are on deck for this week. >> all of that is still likely to be affected in the earnings from ericsson and nokia later this week. carriers are still putting off investing into 5g. interestingly going forward this year, we are going to see a bit more of a divergence between those two key players. erickson repor

asml is tripling order numbers. futures are higher. see outperformance it means a bid in nasdaq futures and we are seeing them higher but again lifting the rally that we expected to get trimmed back. i want to get to the micro because we are getting a story from the maker of high-speed trains around the world. the expectation was to get an understanding of debt reduction announced in november. the third quarter backlog came in at 98 billion euros. there is on insatiable demand but perhaps there falling behind on delivery time. third quarter orders are coming in at 5 billion. sales numbers coming in. they are saying they will provide a breakdown of their deleveraging plan. we interviewed the ceo, asked him what look like and he said they were figuring it out. now they will have more details in may of 2024. a quick check on cross assets, the bond market story is ruminating. 411 is where we are at. weakness in the dollar is a theme for the cross assets story. even brent is trading shy of the 80 handle. let's get into the nitty-gritty of t

bloomberg reports asml canceled some machine shipments at the request of the biden administration.adquartered to be impartial and respect market principles. >>> all right. right now, let's get over to dominic chu. he's got a look at some of today's top pre-market overs. dom, what'd you have fantastic over the holiday? because i saw your early holiday food that you posted on instagram, some of those delicious-looking pastries. what'd you get later? >> so last night, becky, was all about -- we stayed home, first of all, for the new year celebration -- >> we did, too. >> we actually did a party, i don't know if you've done this with your kids, but parties where they do the ball drop at 8:00 p.m., so the countdown -- >> 9:00 p.m., right. >> so we did that and i grilled yesterday. so it was rib eye steaks, some grilled asparagus and couscous was our new year's eve dinner for the evening. >> so healthy! >> we tried! we always start off this way, right? we always start off this way. i've actually got green juice at my desk. we'll see how long that trend actually lasts. >> i'll bring dough

expect firms like asml and applied materials to benefit. the awards are in dprgrants.he $162 million is not awarded as a lump sum, but split over the next few years. senior officials did promise this grant would triple production and produce 700 new jobs on u.s. soil. the goal is to re-shore. rather than pick intel or taiwan semi, the biden administration is focusing on national security producers. a few weeks ago, the first official chips act award of $35 million was allocated to the military contractor. 162 million for micro chip is a lot for taxpayer dollars. the funding has $39 billion allocated to improving chip manufacturing on american soil. the department of come memerce have their hands full with over 170 pre-and full applications for funding, so that means 39 bil billion plensmeans there is a l left to be disbursed. >> why is the government not fully funding? >> you have $162 million for micro chip. $39 billion for bae and that is coming from that pot of money. the whole point is to encourage private investment. on all of the calls, they wanted to reit raiera

metherlands blocking asml from exporting equipment to china.ct chip stocks. "squawk box" will be right back. that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. and it was easy, with a partner that puts you first. godaddy. >>> good morning. the santa claus rally in serious jeopardy after stocks fell first day of the trading year. futures pointing to more losses ahead of today's opening bell. >>> and disney drama. a pair of activist investors throwing support behind the company in a proxy fight. details ahead. and are companies catching on to crypto hackers? thieves unable to score as many ill-gotten games last year. we'll ask an expert why. the final hour of "squawk box" begins right now. >>> good morning. and welcome back to "squawk box." here on cnbc. we are live from the nasdaq market site in times square. i'm become bg along with mike santoli and robert frank. joe and andrew are both out today. mime becky quick. watching what's happening with

revenues, tesla's profitability continues to be hit by vehicle price cuts and watch earnings from asmlnd sk hynix lead optimism for the global chip industry. that is the week ahead. annabelle: let us stick with that outlook for tech because our next guest says that the sector, the magnificent seven, both very volatile in the early weeks of 2024. and very eventful year, joining us is rebecca, president of wolster wealth management. the opportunities are becoming tougher to find now? >> absolutely, i think the investors going into 2024 were ahead of it and expecting her to 50 basis point cuts over a six times even though the dot plot for the fed only showed three and you had the investors rotating to long-duration yields. as the fed cuts their yields, it is the opposite. we may pull back with the ecb saying we are not leaving that event looking until summer or june timeframe. i was saying last december that there is no way i do not think we will get the large cut because the ecb and the u.k.'s cpi print would not even come until april. a lot of pressure on the fed to cut first and that i

. >>> asml has canceled shipments to china at request of the white house. company had licenses to ship three top of the line machines to chinese firms until january before u.s. officials intervened. >>> coming up on "worldwide exchange," every word every investor needs to know today. >>> and if you haven't already, follow our podcast on apple or spotify or other podcast as.pp more "wex" coming up after this. old school hard work meets bold new thinking. to help you see untapped possibilities and relentlessly work with you to make them real. i was on a work trip when the pulmonary embolism happened. but because i have 23andme, i was aware of that gene. that saved my life. >>> welcome back to "worldwide exchange." time for the "wex wrap-up." byd sales were up 62% year over year which puts them on track to surpass tesla for the ebsecond year in a row. >>> and doordash will expand outside of the u.s. the ceo says it will work with more companies like bj wholesale and sephora. >>> and the pga tour and liv golf looking to extend the deadline from the original dat

asml saw orders more than triple in the fourth quarter. the demand for products for the most viable tech company increased. the ceo emphasizing the company's role in the ai frenzy. >> one thing is a short, it is going to need massive amounts of data storage. without our technology, that is not going to happen. it is very clear it is going to be a big driver for our business and the business of our customers. >> private-sector activity contracted for and is month with germany and france in particular seeing the results. the data comes a week before the euro area is set to report gdp which will likely show recession. u.k. pmi data shows inflation worries have returned thanks to the conflict in the red sea. private-sector firms reported the sharpest job in costs in five months. that is your bloomberg brief. jonathan: coming up next, trump cruising towards a rematch with president biden. >> this is not your typical their speech but let's not have someone take a victory when she had a bad night. >> this race is far from over. there are dozens o

you see asml perhaps the most famous one in the netherlands down 2.1%. and they're grappling with export restrictions when it comes to china. others down a similar 2.5%. decisively a risk-off tone with tech and others. >>> a lot to follow over there. our yojoumanna bercetche. great to see you as always. >>> turning back to wall street. we need to get a better idea with the thinking when the minutes come in from december. as many as seven cuts by the fed this year. goldman sachs and bank of america expect the cuts to begin in march. jpmorgan sees five quarter point moves but he sees it in june. jonathan pringle from u.p.s. expects the fed to bring rates down by december. but one noted investor thinks the market is being too aggressive. steve ieisman the cnbc may only cut one time in 2024. >> even if inflation comes in. if i'm the fed and i'm looking at the volker lesson, i'm saying to myself, what's the rush? if the inflation comes in, i can always cut tomorrow. but if inflation is flying why don't i keep rates here. >> gene goldman is chief investment of

-- upped its stakes in that valuable to firms nvidia and tsmc, as well as chip equipment producer asmle fund reports results for the full year later today. talking of what else is on the agenda today, we will hear from the ceo of norges bank investment management at 710 and u.k. time -- 7:10 a.m. u.k. time. also on the agenda, u.k. mortgage approvals at a time where a number of high street banks are lowering their rates on mortgages. you are seeing a tick up in terms of the property sector in the u.k. for december. those mortgage approvals seen coming in at 53,000, up from november. we get a slew of euro area data. specifically, gdp data. we will break the french data in the next few minutes. that will come out throughout the day. the expectation is quarter on quarter will be flat across the euro zone. alphabet and microsoft both reporting earnings later today. we will look at the ai component of those earnings. french farmers use tractors to block roads around the capital as unions threaten a siege of >> good morning. this is bloomberg jay baker. these are the stories that that your a

trading under a $3 trillion market cap and marriott and waste management as well on the back of the asml report yesterday, we have a number of chip names hitting all-time highs. nvidia and broadcom and lam research amd up 1%. nvidia is doing the best of all of the stocks on this board which is up 1.25%. perhaps helping that sector more today is ibm shares taking off after the top and boughttom lines earnings bet we will get more coming up here sayis a look at the needs the ten-year note is up to 4.35. look at oil here with the wti trading at $76.25 a barrel up 1.5%. brent crude trading at $81.15 a barrel >>> that is the setup. we turn washington, d.c. the white house revealing $5 billion for 37 major projects across the u.s the largest item is $1 billion for the replacement for the blacknick bridge the president will visit the bridge two years after he celebrated the infrastructure law signing. we will have more on this later on in the hour. >>> turning back to the market and stocks key to the market action is the fourth quarter gdp report out at 8:30 a.m economists are expecting a 2% in

we expect asml and s.a.p. tomorrow.s from lvmh and intel on thursday and american express closes out the week on friday. let's show you how european markets are faring at this stage. it is a negative picture across the board. we are seeing significant moves over in the spain market down 0.7%. when it comes to the u.s. futures, they are pointing to a slightly higher start to the trading session. let's see how it pans out. that is it for the show. i'm silvia amaro. nt.ldwide exchange" is coming upex ah ese bill e crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. switch to shopify and sell smarter at every stage of your business. take full control of your brand with your own custom store. scale faster w

of course, deliveries are significant to them and asml has numbers on wednesday. we will see results from lvmh on thursday. with visa and american express offering key insights into the u.s. consumer releases data on thursday and friday. we will see continued results from the u.s. consumer. check out our u.s. earnings playbook which is available now on the subscription service cnbc pro. >>> on line gaming firm has received a takeover bid from french lottery maker. the kindred group received 150 swedish crowns per share. >>> sandoz is set to buy cimerli in a deal worth $170 million. the drug is interchangeable with the product marketed by roche. it is expected to close in the first half of the year. >>> credit agriculture has disclosed a 7% equity stake in payment services provider worldline. the bank said the move is part of the wider plan to become a major player in commercial payments. credit agricole is moving up 2% so far this morning since the market opened in europe. >>> thousands of people took to the streets across germany this weekend in protest against t

verizon, asml. >> i think you can go with that. do think that, for instance, last night, western digital reported a good quarter. people think it's a bad quarter. that's not true. kla reported good quarter. people say it was a bad quarter. that's not true, because they're straight out -- all the capital equipment they have is good. asml the best was lam, and that's because we're finally -- the inventory has been worked off. the destocking is now over i want enrico to say something good about hp. every time i want to buy hp, he manages to convince me that it's a big mistake. interesting ceo. no, jim, please hold off i don't want you buying my stock. don't get ahead of yourself. >> don't get ahead well, does that go back to intel as well? >> no, they're -- >> they're amd >> they're amd, yeah >> okay, so if i'm an intel bull, what am i latching on to this morning >> the -- carmen the matador scene? you know, when they kill the bull >> in what movie >> in "carmen. it's an opera. >> i don't go to the opera >> they kill a bull in the ope

on an annual basis asml rose from 2023.owever, the dutch manufacturer warned exports would affect up to 15% of sales to china this year that being said the stock is up and that's why it's doing so well. >>> siemens energy, the company posted an almost 13% rise in first quarter revenue, topping expectations as the power equipment maker looks to recover from a crisis in the wind's energy sector. order intake was up over 23% following months of negative news for the group with a spokesperson saying we're on the right track, but no more and no less siemens energy, up almost 9% today, but still you can see there's a very long way for it to climb to get back to levels we were back in the summer before all of the issues within the wind unit started to arise. >>> and continuing on the theme of the tech sector, s&p shares up more than 6.6% hitting a record-high after the german software company considered a restructuring plan that will affect about 8% of the work force. they revealed a smaller than expected 20% growth in full year r

we will also be watching for earnings out of asml. south korea, perhaps renewed optimism within this global chip cycle. we are looking at battery and lithium stocks at the chinese mainland. big news on the weekend where the u.s. will start, will ban the pentagon from buying batteries produced by chinese makers from october 27 on. we will be talking about that very topic with both our securities and they are forecasting a weaker demand in china. we will get their views later on. yvonne: first we will hear from the european commission vice president on why he thinks geopolitical tensions pose fresh risks to global trade. this is bloomberg. ♪ >> misinformation and election interference is going to be a real challenge that we all have to tackle. >> we are talking too much about donald trump in europe. we should prepare ourselves for a possible second term for donald trump. by first doing our european competitiveness. >> the best defense is attack and to attack properly you need to be strong at home. being strong means having a strong, dee

think we've seen the bottom of the cycle in smartphone sales, and if you remember from yesterday, asml dance by 300%, the company that makes the machines that make semiconductors. that's all about a.i. as a.i. becomes the dominant theme of this year, you need more semis and companies like qualcomm. stuart: got it. thank you very much, adam. coming up, don't forget to send your friday feedback n. i can take the good, the bad and the ugly, mostly. e-mail varneyviewersfox.com. >>> vice president harris fiercely defended president biden over concerns he's too old to run againful roll tape. >> i spend a lot of time with joe biden. this is someone who is tireless in terms of working on bethat half of the american people. -- behalf of the american people. this whole issue that they are raising about his age is again because they've got nothing to run on. stuart: so the president is tireless? if well, we'll question that. and there's this, ohio banned gender-affirming care for minors and restricted transgender athletes from participating in became's sports -- women's sports. sounds hike a big

asml will be a beneficiary. footer entertainment owns fanduel. it has had a very good day.ly the right back. flutter up by 15% on the session. alix: thank you very much. we want to go back to the world economic forum. lisa abramowicz and jonathan ferro are standing by with brian moynihan. jon: we come up here hand ahead about the layers on and then brian moynihan turned up, and i started stripping off just like to cool like brian. brian moynihan alongside us, the chairman and ceo. good to see. let's talk about this economy and consumer. you are the number one small business lender in the country. have a massive retail but is. what are you seeing versus where we were problems ago? brian: we have 66 million consumers and retract every week how they move money in and out of their accounts. over the last 12 months they have gone from a growth rate in the first part of 2023 of 10% down to a year-over-year growth rate of 4.5%, 5%. pretty consistent since the mid summer. the good news is it has slowed down because it is more consistent. was. sort of a low-inflation economy. draghi

with u.s., which is really important when ensuring access to the chipmaking equipment such as the asmlde these kinds of equipments and so that is why the tech stocks are rising but tourism is not doing well because there has been a lot of crossed trade banning and restrictions when it comes to tours and especially for mainland chinese tourists wanting to go to taiwan and so that it does not seem like the restrictions will be listed anytime soon so it is actually being the worst performer of the taiex gauge and so there is that one and then the energy stocks that are doing a little bit better, they are with the dpp favoring the renewables over the nuclear power plants, the wind power companies are gaining actually so there are also of course the defense stocks which are getting a lot because we are seeing the dpp will be spending more money on bolstering military capabilities and so these companies make fighter jets and shipbuilders are also getting. >> thank you so much for looking at the implications of the taiwan election. no doubt it will be one of the subjects of interest in switze

friend-shoring with dpp winning the election as they might have more access to that through providers like asmlcks like tourism as well as energy sector where the dpp wants to move toward the more renewable energy policy. shery: our bloomberg asia stocks reporter. let's get a little more on the reaction to taiwan's election results and get back to taipei and yvonne man. yvonne: joining me now is jennifer from bloomberg economics and the former u.s. national security council head of china and taiwan policy. how big of a win was this for dpp? >> this is an unprecedented third turn for any of party in taiwan since they started the holding open elections. that is a major winner for them. at the same time they did not secure a majority in the ly. they will have some challenges advancing their agenda. what this represents is taiwan's democracy is maturing. . the voters have decided no party should rule entirely on their own and they will have to share and compromise in order to advance their agenda going forward. yvonne: the beijing response so far has been quite low-key. muted right now. what is goi

we put the kibosh on big asml machines that china needs to make sophisticated chips. gaming chips to china but not military chips. we're doing our best to re-establish ourselves as the world leader. >> important story for this year. what do you got on tonight? >> i'm doing off the charts with larry williams, with his work and larry has done work that is, frankly, negative short for the most over valued part of the market. longer term, fine. again, i am of the same view. i just think that we had this great move by a few stocks, and it's time when the fed is done tightening, for others to join. now does that mean that the metas have to come down and the megas have to come down? kind of. but. >> it's all right. you don't have to be defensive about it. you're allowed. >> talking to everybody about this. >> yeah. >> we'll see how long it lasts. >> i was going back and forth with larry saying, look, i don't even know, how do i sell something i think is the greatest. he said you're kidding me. it's leisure stocks. don't screw it up. >> good first show of the year. >> i have

manus: there's asml.s not have, the technology you have here in the u.s., the apple in the microsoft, but has the chips and the gear makers for the chips. apple is a premarket. amd up 1.6%. scarlet: amd is seen as the second best option after nvidia because whatever nvidia cannot fulfill because it does not have the capacity ghosted amd -- capacity ghosted amd. mandeep: that sort of demand. even if they are a distant second, that's good enough to drive that kind of sentiment, but i still think the bar is much higher to drive those positive surprises, and that is what will probably restrict how much optimism we can have around the sector this year. scarlet: amd up 10% this year so far. manus: i made a mistake. magnificent seven levels. intel up 1% before the bell as well. they had a price rise from raymond apple had three downgrades and only one upgrade. scarlet: maybe things will change with the vision pro. preorder it now, available july 11. $3500 you will spring for me? manus: for you? mandeep: he is on