we will hand him back to florence, the ceo and chairman of baker hughes.t is a conversation you will not want to mix. stay with us. this is bloomberg. is it not >> welcome back to bloomberg daybreak europe. the biden administration is facing backlash from international business groups after announcing it has altered approvals of new lng plant licenses. the decision was made while the energy department looked at have energy exports affect climate change. who better than to cross over to other than alex still? and with a very special guest, here is alex. >> that is the conversation here. i am joined by the ceo and president of baker hughes, lorenzo. great to see you. i want to start with the news of the day. that is saudi aramco not ramping up its capacity of 30 million barrels of oil per day. what are your thoughts on that? quick it is early in the morning. we have not had a chance to get the latest -- get the latest on what was communicative. at the same time you look at the market dynamics and the situation at the moment. you can understand that they are

diamondback energy, baker hughes, dollar tree on that list. >>> coming up,up iran is sending a warshipamerica's navy destroyed three houthi boats. will there be a direct confrontation between the u.s. and iran? we'll answer the question. >>> jeff flock taking a road trip in an electric vehicle. he's going to begin the 800-mile drive from chicago to new york city in our next hour. we'll deal with that. he'll show you how he's doing. >>> the white house says the economy will see real momentum this year. roll tape. if. >> if you actually look at a the trend in the economy, the strength of consumer spending, real wage gains for nine months in a row year-over-year for mid-level workers, i think you see some real momentum getting us a good start for the new year. stuart: where does larry kudlow think this economy is going? larry is next. ♪ stuart: twelve minutes into the trading session, the dow has come back a little bit. it's down 79 points now, but i'm afraid the the deevent of the nasdaq continue, it's down 211 points, big drop there. apple if microsoft, by the way, they're both dow stoc

. >> gas is a huge market that we go to baker hughes and markets across all of markets go to marketspartners in the defense intelligence industry we go with booze and and we have a very rich partner network that were working with to deliver the to intelligence, manufacturing and healthcare and telecommunication, you name it. >> were trying to assess what 2024 looks like and how would a play out in terms of growth for the macro story. my question what are you seeing from your customers in terms of increasing spending on it. >> i'm not sure about it but as it relates to a.i. i think companies feel if they don't take advantage of a.i. and their competitors will, thinking deliver an warmest benefit to the customers and their shareholders so they seem to be investing in a.i. maria: talk about the risks of our people worry about the impact on jobs. >> the impact on jobs, a.i. like many technology will create more jobs and it's a hard stop. >> that's what we've seen in other technology innovation. >> there is a downside jamie talks about health side and will be the largest application of a.

slb rivals also falling on the news including halliburton and baker hughes. >>> whirlpool swirling lower stock down about 6.33%. the home appliance maker says disruptions in the red sea will affect its european supply chain. company also ad ad that slowing existing home -- added that slowing existing home sales have eaten into profits, but they expect that to ease a by the second half to the year. >>> one of the nation's top dating sites is work on a new -- working on a new weapon in the 2k5eu9ing wars, an a.i. wingman to help its customers make that love connection. we're going to tell you which stock we're talking about in just a moment. and, you know, enough movie ises have been made about the o.j. simpson murder trial. every single one of them features the character right there above o.j.'s head. the real life criminal defense attorney robert shapiro. but in a hollywood twist nobody has known, shapiro, robert happen row had no intention of becoming a lawyer. he was well on his way to a degree in finance and a life in the war of d -- world of banking until a war many a far-off land to

baker hughes is also similar to them.more oil because of the efficiencies. rock formations a whole host of data that comes in and information they garner are allowing them to basically produce more. liz: adobe also obviously is big in a.i. at the moment. >> yes. liz: visual a.i. where they can do images and we had them on to discuss this. is it translating already to the bottom line? >> yes, already. i call it the copyright cop. the reason i mean that, they put out information, you put in an advertisement you will actually know if there is copyright infringement in terms of the stuff you pull up on a.i. liz: guess what is infringing on all-time record? dow jones industrials, gus. you got to witness it here. thanks for joining us. cue the fireworks, folks. the dow is closing at a record high, 38,039 points. that is a big move. i'm looking at microsoft and it too looks to close above the three trillion dollar market cap. [closing bell rings] tomorrow one of the best investment gurus in the business, bob doll of crossmark an

reporting the week, including visa, boeing, american airlines, as well as oil services countries like baker hughes and halliburton. guy: thank you very much indeed. comingauer coming up with ed ludlow. today the day i would normally have been a specter to be dominate by the banks. looks like maybe some fed repricing taking the headlines. sonali: he seat in the yields and the yield curve as well. we will keep an eye on it throughout the show. this is bloomberg. ♪ ♪ n i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. c'mon, we're right there. c'mon baby. you've got more options it's the only we need. go, go, go, go! ah! touchdown baby! -touchdown! are your neighbors watching the same game? yeah, my 5g home internet delays the game a bit. but you get used to it. try these. they're noise cancelling earmuffs. i stole them from an airport. it's always something with you, man. great! solid! -greek salad? exactly! don't delay the game with t-mobile 5g home internet. catc

you got names like halliburton, schlumberger and baker hughes. exxon and chevron lower as well.nalysts at morgan stanley are downgrading the sector to more of an in-line rating citing a softer oil and gas market and ample supply made oil prices less sensitive to geopolitical risks overall. keep an eye on that sector. elsewhere we want to get a check on a flurry of deals in the health care sector as well. boston scientific acquiring axonics. shares of axonics moving on that news. merck is buying harpoon therapeutics for $680 million. we end on johnson & johnson $2 billion deal to buy ambrx biopharma another cancer developer. ambrx up 98% overall. a big deal there. all the deals come as we await commentary from big natpharma a the conference getting under way today. carl, back to you folks at the new york stock exchange. >> apple coming off a rough week after downgrade from the street last week. today concerns growing over the atnvto nd china exposure. wh iesrseeto know after this break. every day, more dog people, and more vets are deciding it's time for a fresh approach to pet f