you can see why bhp is interested.— bhp is interested. absolutely. as a really _ bhp is interested.lutely. as a really diverse asset - bhp is interested. absolutely. as a really diverse asset mix. | as a really diverse asset mix. as a really diverse asset mix. as a really diverse asset mix. as a tilt towards iron ore and copper. very sought after in the green revolution and also there is legal, diamonds, platinum metal in the mix as well. this diversity is likely to be very attractive. any deal would have to see some of the assets and operations advance in south america from the rest of this business before it goes ahead. anglo american suffered from 10% fall in its share price over the past year and this is potentially wide. it has become this takeover. considered an historic terms to be cheap compared against the international peers. it is just going to add fresh concern among those in the city about the number of firms leaving because there have been a dearth of ipos with other companies choosing united states instead. interesting, we will kee- states instead. interesting, we wil

we know bhp and rio tinto had discussions in the past.e know the two companies would be keen to get together. it is a very -- i think there could be a lot at play here. more than just anglo american. >> very interesting. is this the start of a lot of m&a activity in the sector you highlighting some issue there is is this a new chapter as they prepare for the energy transition >> this is an opening shot a lot of people in the industry, including myself, think there will be a fairly severe shortage of copper coming at us the chinese state planners are still working out how to get enough copper to feed their electric vehicle industry. electric cars use more than twice as much copper as a normal internal combustion engine vehicle. given the amount of cars the chinese are putting out these days, where will they get the copper we know there is a shortage supply china ramped up the copper smelter factories. if you cannot get the concentrates, that means you cannot produce the metal if you can't do that, where do you get the metal? there is a lot

bhp has consolidation attempts with anglo america it is pivotal.e are talking about the proposal in discussion with shares you see the escalation in the anglo america shares it includes 4.816 piece of platinum shares. in the statement, it val ues anglo america at 31 billion pounds value nfor shareholders and may not amount to anything with the usual caveats. when it comes to the significance, it would see output from the companies to be 10% of global production taking on the issues of the chilean player >> it is not just dr. copper anymore, but dr. green this deal would bring together two p companies companies thate largest platinum producer and nickel as well a valuable commodity making chips chip s. >> there are all pieces here anglo america saying this is a conditional proposal there is a view that some parts of the business in south africa may have to be diffivested here. prices are down for lab grown diamonds others have reportedly been looking at anglo america in the past bhp with a lot of expertise in the area. >> you mentioned it was unsoli

what would this deal give bhp access to? physically what changes for them.llow them to access they currently can't get hold of? they currently produce about 1.5 million tonnes of copper a year. anglo has aimed to get to one million tonnes of the next four or five years, so there is scope for them to significantly increase production immediately. there's also some expansion potential, i think, within some of the anglo american assets that bhp would be looking at. some of the older projects, some of angle's assets are 100 years old, and certainly technological advancements that bhp are looking at in their own portfolio, potentially leveraging that into some of these anglo american assets as well to potentially grow copper beyond those targets. i said in the intro, demand for copper soaring given the push towards renewables. it is a concern that if power falls into the hands of the few key players, that gives certain companies to match power? the copper market is 25 million tonnes a year or more globally, so whilst bhp would be the largest player, they would on

other investors are speaking out against this bhp deal. how do you think through anglo american bhp as it stands, giving you had followed this deal to the deal talks and reported outcome of that, and everything that happened since and the resistance against this deal, how do you explain what the state of play is? >> what is such a big deal, it was sitting at about $40 billion. there's always going to be multiple steps in negotiation. the bhp approach is an all stock approach. it had been rejected. it would be interesting to see whether this draws out other potential buyers. as well as with the pressure elliott and bluebell and some of the other existing shareholders are applying. it could push anglo american to either figure out something strategically internally, or to entertain some other bids. it is a fluid situation. by far, i think people in the market are saying it is the beginning, not the end. sonali: explain some of these scenarios. how do you think about how the road ahead looks and whether this particular deal can come back on t

>> there is no official comment from bhp or anglo, but last week bhp made the share offer.lo said it was opportunistic and fails to value its prospects. may 22 is the next day. bhp has then to table a fresh offer or walk away. we have been talking about all week copper prices are surging. demand good soar as well. an electric vehicle needs four times the amount of copper than a normal car. it is much cheaper to go out and buy a new mind. annabelle: if bhp comes back to the table with a better offer, will that be enough to flush out some of the rival bidders? >> that is the next thing will be watching for because it is not beyond imagination that the likes of rio tinto will become interested. other miners will be thinking the same thing when it comes to demand. another company is doing a major deal for $90 million worth of coal mines in canada. copper and gold deposits are usually found together and beric expressed some interest in expanding into copper as well. dive into prices are down. last december it announced a production downgrade and we saw shares falling 20% in dece

we don't have any confirmation from bhp yet.you said, it is a holiday in australia, we will see what happens. but this is a deal that will shakeup the mining space and could dominate the agenda this year. paul: yeah, it's been some time since we have seen such large-scale dema -- dealmaking from bhp. to what extent is this becoming a bit of a trademark of ceo mike henry's leadership, and have we heard in response from anglo about this reported bid? martin: i think everyone understands that the ceo probably wants to make it extent i -- a big stamp in his leadership. bhp already made a big deal in copper last year, a $6.4 billion deal. so, that expanded their portfolio there. they have already said -- anglo has already said that bhp's proposal will see anglo first spinoff its iron ore and platinum business in south africa, and that really emphasizes this focus on copper. rio tinto, bhp's rival in the number two iron ore miner, has also been looking to build up its copper business. and we saw glencore, the international trader and

i want to talk a little by -- about bhp which is slipping at the moment. believe bhp it has done the most in seven months, trading volume as well. this is a story we brought to you yesterday during a public holiday here in australia, bhp reportedly making a bid for anglo american, worth $59.6 billion. it is an all stock bid. this suggests the days of big dealmaking might be back on the table for the chief executive mike henry and he is particularly interested in copper. bhp off about 4.3% after 15 minutes of trade in australia. watching the yen very closely. more from the ministry of finance today but still no action. we will have more on the outlook for the yen ahead of that decision and we will hear why standard chartered bank is expecting upside for the currency. u.s. secretary of state antony blinken wrapping up his china visit as beijing rebuffs his criticism of their trade policies. details of that story, next. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates, exemption certif

bhp approaches rival anglo american with a takeover offer. the move could spark the biggest shakeup in the industry in a decade. the launch of earnings begins in europe with much of the focus on this morning's data around the banks, starting with deutsche bank. crossing the screen, germany's largest lender coming in with a beat for its fixed income trading team. there was an expectation they would do well and they have outstripped u.s. peers with fixed income sales and trading revenue coming in above estimates, 2.5 2 billion euros above the estimates of 2.4 one billion euros. the bank seeing 2024 revenue slightly higher year on year so a beat on the revenue front and the fixed income trading team at deutsche bank doing the heavy lifting in the latest quarter in terms of sales and trading revenue. in terms of 2024, the private bank revenue has been flat year on year and in terms of expectations, 2024 around fic, fixed income and currency trading revenue, slightly higher year on year is the expectation. the ratio is expected to remain flat. in

bhp falling 3% >>> several big european companies reporting earnings today.osting the highest quarterly profit in 11 years as the investment bank out performs >>> nestle is looking at lower shares with higher sales and astrazeneca moving lower as well. >>> and coming up on "worldwide exchange," the one word every investor needs to know today and one set to take it on the chin we are looking at if the magnificent seven is trading away we will be right back after this break. norman, bad news... i never graduated from med school. what? but the good news is... xfinity mobile just got even better! now, you can automatically connect to wifi speeds up to a gig on the go. plus, buy one unlimited line and get one free for a year. i gotta get this deal... that's like $20 a month per unlimited line... i don't want to miss that. that's amazing doc. mobile savings are calling. visit xfinitymobile.com to learn more. life's daily battles are not meant to be fought alone. - we're not powerless. so long as we don't lose sight of what's important. don't be afraid to seize that

the thing in my mind which is interesting is bhp's ceo takes a very measured approach.orer in 2021 after a revised bid. in my mind, there could be another play as they come back to the table, but the fact this was already live means i don't think it will run away. the other thing is this really puts the ball back in anglo's court, there will be self reflection and pressure on anglo to come up with opportunities. ii reflection and pressure on anglo to come up with opportunities. if you were a betting _ come up with opportunities. if you were a betting woman, _ come up with opportunities. if you were a betting woman, would - come up with opportunities. if you were a betting woman, would you put money on this deal being achieved or falling away? do money on this deal being achieved or falling away?— falling away? do you know what, i think there _ falling away? do you know what, i think there are _ falling away? do you know what, i think there are so _ falling away? do you know what, i think there are so many _ falling away? do you know what, i think there are so many hurdl

to some major deal news in the mining space now — bhp, the world's largest mining company, has made anbritish miner anglo american. the deal values anglo american at $37 billion. bbc reached out to anglo american, who confirmed that they have indeed received bhp's proposal, and that their board is currently reviewing it. if an agreement is reached, this would mark the biggest shake—up in the global mining industry in over a decade. we also got earnings out of south korean chip giant sk hynix this morning. the world's second biggest memory chip—maker saw its highest profit growth in almost two years of $2.1 billion. the artificial intelligence boom helping the company reverse heavy losses incurred last year. us plane—maker boeing reported its first revenue drop in almost two years. its manufacturing quality has come under scrutiny after a series of accidents involving its max 737 model. let's bring in aerospace consultant mark martin. i asked him what he made of boeing's results and his outlook for the playmaker. building commercial aeroplanes, the revenue is driving the entire performa

bhp shares currently gaining by three quarters of 1%. we saw them lose a little bit of ground yesterday off the back of that rejection by anglo american for a $39 billion all stock bid. bhp shares sold off a little monday but recovering pretty strongly at the moment. haidi: let's look at the yen. look, this is the picture as we see quite a bit of sustained weakness. flat at the moment at the 156 level. as we were talking about earlier this comes before these expectations potentially come to fruition off that hawkish pivot from jay powell. elsewhere we are seeing the bloomberg dollar index holding pretty steady. we heard that no doubt from the bank of australia pushing back its rates. expectations for the rba from september now not expecting a cut until november. let's bring in garfield reynolds who leads our markets live coverage pretty let's start with the post-manic monday situation for the yen. it looks like they did probably intervene. commentary was still kind of ambiguous. if we assume that they did, they are not getting much bang

ftse 100 is the leader up .50% hitting a fresh record high and getting the boost that bhp is lookingo put in another offer for anglo american it looks like the dow will open up 60 points higher which is off the highs. that is it for today's show. i'm frank holland. "worldwide exchange" is coming up next. raising you was no bed of roses. are you getting me anything for mother's day? go to 1-800-flowers.com. oh my gosh! wow! gorgeous! i feel like royalty. thank you. 1-800-flowers.com. happy mother's day. happy mother's day! my name is ashley cortez and i'm the founder of the stay beautiful foundation when i started in 2016 i would go to the post office and literally fill out each person's name on a label and now with shipstation we are shipping 500 beauty boxes a month it takes less than 5 minutes for me to get all of my labels and get beauty in the hands of women who are battling cancer so much quicker shipstation the #1 choice of online sellers go to shipstation.com/tv and get 2 months free it's hard to run a business on your own. make it easier on yourself. with shopify, you have ev

a company like ivanho, i agree with bryn on bhp.hat's another way to play it as well. >> weiss, are you playing this at all? as long as i've known you, and you've been on this program, this is not a knock at all, it's a fact, you have not liked gold, right? you said you can't value it. you've made that case. >> yeah, i don't know how you value gold. it's an emotional buy. it's an emotional sell. >> there are times where it works. we're obviously in one of those times. >> exactly. i know if i come in, that will be the end of the time it works. >> stay out. >> so they don't get mad at me. >> sort of like when you walk o. check, please. >> how is that different than your buy in bitcoin? >> good question, joe t. >> it is a softball question, thank you. because i'm betting on the momentum in marketing from black rock, from fidelity, from tons of other firms that are bringing people in. so i'm betting on the market strength. bitcoin just happens to be the vehicle i'm using to play their market strength. for gold, i've seen charts, people

we are focusing on some of the big names like bhp. iron ore output rising despite some of the weather-related woes. of course, the downside demand story from china as well. pretty good picture for bhp, shrugging off some of those concerns. us trillion bonds opening the session higher. the 20 year auction attaching strong demand there. the aussie dollar also expanding that bounce before we have local jobs data do as well. expect to see a pullback in those march numbers after a big jump that we saw in february that was quite surprising and a little bit of a question mark over that. take a look at oil as well. brent crude up by three tons of 1%, holding the drop. u.s. stockpiles expanding to that ten-month high. balancing out that largest decline that we've seen in three months for crude. watching treasuries. a big jump against long-duration demand with that 20 year treasury auction. quite a bit of participation there. the warning when it comes to potentially higher for longer continuing to play out here. let's bring in our executive edi

bhp making acquisition notes as it looks to buy out anglo american it is considering a new order with regards to that ibex in spain is down .13% in corporate news, philips is speaking out after the litigation issue and now agreeing to $1.1 billion settlement to the ventilator issues that moved the share price higher 37% in the day's trading, frank. >> arabile, thank you. >>> let's check on the top corporate stories with silvana henao at cnbc headquarters >> good morning, frank federal regulators seized republic first bank and sold to fulton financial in what is now the fourth high-profile bank failure since last year and the first of this year fulton bank is assuming the $4 billion in deposits and $6 billion in assets. that is smaller than $229 billion in assets once held by republic first at the time of its failure. pennsylvania based fulton bank add $28 billion in assets and 200 locations in pennsylvania and new jersey and delaware and maryland the deal doubles the size of the market and keeping assets below $50 billion. >>> tesla clearing two regulatory hurdles when it comes to lau

mining firm anglo american says it has rejected a £31.1 billion takeover bid from australian rival, bhp unexpected — as shares of anglo american had risen some 16% in london trading on thursday — indicating that investors are anticipating a more generous offer. the ftse 100 has hit a the ftse100 has hit a fresh record high today. it has been a buoyant week boosted by upbeat results. that is close to that high of the ftse 100. support hello from the bbc sport centre. we're starting with the premier league title race because manchester city are once again breathing down arsenal's necks and it's in their hands — they're just a point behind them with a game in hand although arsenal have superior goal difference if it comes to that. but city tried to improve that last night, putting four past brighton in a routine win at the amex. phil foden scoring twice and the other goals from kevin de bruyne and julain alvarez. the reigning champions are most people's favourites to win the title again. it would be four in a row, something no club has ever done before. every game is a mystery. what happen

so bhp really they do copper and iron the stock has been terrible this year the stock is down about 18% acquisition, i believe, is about them wanting to by anglo's copper and they summarily rejected it because copper is hitting fresh two-year highs if you want to look at a pure play look at sdf it is up 8%. as copper continues to be the key metal in the energy transition, we are going to continue to have these supply imbalances where we have too much demand and not enough supply i think it relates to bhp. it is in the penalty box because of the iron. if they want to go take a second bat at anglo, they will have to do it much higher. they want a more pure copper play, and i don't know how quickly china will recover that's what you need iron to go higher. >> a lot of angles to that story. >>> let's get the headlines with sima. >> here's a news updatement donald trump's hush money trial continues with the defense team cross-examining david pecker earlier today, pecker testified that the nat"national enquirer"a not going to pay for stormy daniels story. and that former trump attorney michae

. >>> plus, mining maneuvers the latest on bhp's offer for anglo american all that when "fast money" returns. >>> this is "fast money" with melissa lee, right here on cnbc. 'e renew formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond. we really don't want people to think of feeding food like ours is spoiling their dogs. good, real food is simple. it looks like food, it smells like food, it's what dogs are supposed to be eating. no living being should ever eat processed food for every single meal of their life. it's amazing to me how many people write in about their dogs changing for the better. the farmer's dog is just our way to help people take care of them. ♪ her uncle's unhappy. i'm sensing an underlying issue.. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name!

bhp is making an approved proposal for anglo american after his $39 billion bid was rejected.omberg understands the australian minor is discussing a revised proposal in the coming weeks. this is trying to convince them to back the offer. key to the rationale for this potential takeover. this is the asset story around copper and the run-up we have seen in prices around 10,000. still breaking about that $10,000 level. that demand for copper is so central to the renewable energy story. around renewable energy more broadly in the supply is not mention that demand. they are questioning apple over growing concerns about the conflict minerals in iphones and other devices. what is the bone of contention in this formal notice. apple is responding to this allegation saying that since 2016 they been auditing their supply chain and they are reasonably confident that the minerals don't exist in their ecosystem but they have their work cut out for them because consumers are more aware and cautious of sustainability. >> for the as to have apple grapples with these accusations. what is the ro

britain's anglo american says it's received a buyout proposal from giant australian rival bhp. from the us, they could be key to hopes of a cut in interest rates. and, upskill or get left behind. more than half of the world's employees need to retrain for a changing workplace, according to the world economic forum. are you one of them?

they said in parliament that it was largely inherited through the merger with bhp, so they are tryingvocate for better climate transition. super holds over 1% of the company, but there has been a counsel which represents investors of around $2 trillion worth and they had put forward a proposal to members recommending that they vote against woodside's climate transition plan. they stopped short of saying mr. goiter should not be reelected. worth mentioning that the pension funds are under pressure to back up their climate statements that they are making. many have been more forward in commentary and the lead up to the meeting. annabelle: that was pension funds correspondent amy bainbridge. latest corporate stories and the u.s. federal trade commission is seeking to stop a merger between two fashion giants. the agency alleged that the deal between tapestry and michael kors owner would harm the luxury goods market. this is the first time in the sector. industries disappointed revenue topped expectations. coming up, here why mcquarrie group is anticipating vulnerability for asian currenci

companies wanting to buy a cheap uk assets, and two examples over the last few days have obviously been the bhptrays being bought by a private equity firm, and one long—term factor, which is of concern, is this cheaper valuation here in the uk means that companies are not motivated to list in london because they can get a higher valuation elsewhere.- because they can get a higher valuation elsewhere. thank you for exolaining — valuation elsewhere. thank you for explaining all— valuation elsewhere. thank you for explaining all of _ valuation elsewhere. thank you for explaining all of that. - for explaining all of that. have a good weekend we will see you again soon. to ireland now, where the latest figures for economic output — gdp — are due out this morning. now, ireland has managed to attract many of the tech giants, the likes of apple, google and facebook parent meta to base their regional headquarters there, drawn in by low taxes and some of the most productive workers on the planet, all helping bolster ireland's finances and the government coffers. but critics warn of a twin—track economy —

stuart: a mining group the bhp.hey want to take over anglo-american, copper minor for $38 billion, the reason is they want all copper and those mines, they have several and copper is used in the green transition. ev batteries etc. . david: you don't need as much copper but we will see how that works out, the railroad. lauren: look at that, almost 5% on a day like today, stronger earnings, higher pricing offsetting the lower volumes, they do say demand overall is down especially in the coal they move, they are shipping a lot more natural gas. david: i smell berkshire hathaway, they love union business. lauren: in the dow was down 620 points and union pacific is up 4. 7% that's a big deal. stuart: david: president biden signed a foreign aid package which included a tiktok crackdown. is biden still going to use the platform to campaign? as back and here's national security. >> i but campaigns decide what they are going to do. the terms of the bill is straightforward, tiktok continues to operate until either there's div

bhp production rising 3% in the first three months. this is the world's biggest miner.hrugging off heavy rainfall along with dwindling deand in china. the group up more than 2%. up next, renewable energy. keep it haslinda: shanghai, shanghai. welcome back. china markets heading to lunch. reviegz losses up 6/10 of 1%. most clients avoiding china despite cheap valuations. china up about o of% from a low we saw in january. gains too for china and shanghai shenzhen. china heading to lunch. we have japan coming back from allergy. let's check in on how japan and the rest of asia is faring. >> we're looking at some calm returning to japanese markets today. after multiple days of losses no thanks to that higher for longer fed narrative. today we see the nikkei, topix.asml flashing a warning sn about demand. let's take a look at what we're seeing among currencies. obviously given how this fed narrative is playing out, that is going to be a bit of a headache for asia central banks. we are getting a sense that the calm in the stock market might be short-lived. we have seen the aga

. >>> mining giant anglo american has rejected the takeover bid from bhp bhp said it made an all stock offer that valued anglo at 38.billion you see anglo shares are off and bhp shares as well down less than 1%. >>> the bank of japan keeping rates unchanged. this comes after flainflation in tokyo came in lower than expected the bank of japan will continue buying bonds at same pace as previous months. >>> coming up, more tech movers and dividends announced by companies that have never done it before. phet and microsoft make those moves. we'll show you those next. we're coming right back. [sfx: wind, rain and rolling thunder] nobody's born with grit. british announcer: rose is really struggling. it's something you build over time. american announcer: that's 21 missed cuts in a row. [car trunk slammed shut] for 88 years, morgan stanley has offered clients determination and forward thinking to create the future... crowd: stop it! ...only you can see. american announcer: rose, back in the winner's circle. [crowd cheers] [music out] you've got xfinity wifi at home. take it on the go with xfi

i think goldman sachs advised bhp when elliot came into the stock in 2018, and it prompted a lot of otherthe region, like -- is this a new thing we are going to see? a few years went by. covid happened, and it has not really taken off, but there are emerging signs and people are starting to evaluate and realize there is a playbook that is starting to crop up. local investors, might not be u.s. funds coming in, but it does not mean people cannot reverse engineer that playbook and use it to their own ends and adopt that style of engagement where it is needed to get the outcomes that they want. >> why have it investors and -- why haven't investors and shareholders been investing in australia? >> we are a small market, 25 million people here in australia, so it's a very small commercial realm, and its hard swatting people around and making enemies. the other element that has stopped u.s. funds coming in or at least foreign funds from really getting attracted to australia is that it really is related to peer time zone issues as well. it breeds all sorts of problems, so that's conventionally wh

we will watch bhp following the move to purchase anglo american.pens coming up in sydney, soul, and tokyo. this is bloomberg. ♪ no matter what you're up against, we have your back. we are united way. we are neighbors helping neighbors in communities around the when disaster strikes we get you back on your feet. we help children build brighter. we've been here for over 135 s but now our work is more . join us. join your neighbors. join united way. paul: this is daybreak asia. we are counting down to the major market opens. could be a pretty interesting session today as well, a lot of factors to consider here. we just had a big miss for tokyo cpi on the eve of the bank of japan meeting. we heard some more currency talk from the finance minister about supporting the yen. blowout results for some u.s. tech stocks. concerning data out of the u.s. as well. how is the market going to balance out of this? avril: there's a lot to digest. thinking about how the stagflation chatter is coming back to the four in the u.s. and how this yen depreciation will figu

reuters is reporting the anglo american does not consider a proposed takeover from bhp attractive.em at 39 billion dollars. if successful, the deal would create the world's largest copper miner. i'm joined by bloomberg's jennifer zabasajja. let's get the view in terms of the south african take on this, because that is consequential as well. what is the view from south africa, what have we heard from officials and policymakers about this? jennifer: it's important to know how critical the mining industry is for south africa. not just that, anglo american has a long and storied history here in the country and also been the big contributor to jobs and to export, as we mentioned. but with this deal, the deal hinges on the fact that anglo american would need to spin off to south african listed companies, which is kuumba iron ore an angle -- anglo american platinum. these are important assets to the country, not just that, but anglo american is the fourth biggest on the ftse jsc. it's very critical to the industry and so the question is, if this deal were to actually go through, if the sp

we start with anglo american rejecting the takeover proposal from bhp saying it is significantly underhe company and prospects. in a statement, the chairman calls the bid unattractive and creates substantial uncertainty and execution risks for the company and other shareholders shares of both companies trading lower. >>> the bank of japan keeping rates unchanged after the policy meeting. this after inflation came in lower than expected for the month. the boj will buy bonds at the same pace as previous months. >>> we start with remy which says significant growth in china boosted sales in the cognac division a different story from other luxury makers. first quarter property at nat west falling after competition for savings and lending and mortgage products. and saab raising organic sales outgrowth. >>> coming up here on "worldwide exchange," stocks looking to close out the note with the latest look at inflation the moves maki ingt a critical trading day ahead. much more "worldwide exchange" coming up after this you need them. they need a retirement plan. work with principal so we can hel

we are also getting bhp and santos reporting quarterly numbers as well. watching out for those when trading begins. kiwi stocks down by about .1%. seeing a pretty muted session for the chicago nikkei futures. but we are sort of watching to see broadly asian stocks coming under pressure after we saw u.s. stocks extending that losing streak. annabelle: yeah, the longest losing streak we have seen since january. an interesting session. futures coming online, fairly muted. but it was that story of yes, another day of weakness. the s&p 500 for instance is now down around 4% from its record high. big tech really bearing the brunt of this as well. there have been a lot of question marks, or there had been a lot of question marks over how far could go over the near term. but it is the digesting of the fed message we are going to stay higher for longer. treasury yields fell and we had a weaker session. that is the outlook as we come online for let's discuss where markets go from here and bring in our first guest, burns mckinney. i was taking a look at your notes a

and resources, names such as bhp, because missiles are bounding higher, there's hopes the manufacturings getting underway and finding its footing out there. it's all about the chips. not the delicious salty vinegary chips you eat on the couch. i'm talking about tmsc. its revenue, which beat expectations, that's following through to some really good gains for the likes of asml, infineon and others, the names you see in our european region. technology, the leading. auto is up 1%. oil and gas moving to the upside there. indeed wti and brent actually fell in u.s. trade, but nonetheless have done very well so far this year and very much oscillating depending on what kind of news we're getting out of gaza and the ongoing cease-fire talks. we're going to be talking more with an israeli government spokesperson later on on our show on what is happening on that front. anyway, let's take a look at what's happening with futures. it's big inflation day out there, frank. we did get some commentary. the most recent commentary was governor bullard that he relates there could be three cuts this year. bu

what is do you want to do with roblox, down, bhp down 15. >> roblox has been trading, wait till it goes and tell it at 40. i don't think it will get meaningful until they get bought out or gets earnings positive. i think it's a long-term winner if they go earnings positive. >> a look at your american tower, down about 10% in the quarter. you're adding to that more the >> by loser, you don't go to any of my winners. >> it is actionable. >> i'm adding to it. given where they are, if you look at the secular growth in towers, this is the place you want to be. they are down for the year because of the interest rate trade, but i think the business itself is so strong that even if rates don't come back down you can make money on this stock. >> you want some uber love? xpo is up 44%. >> uber and meta, i've been taking money off the table. xpo is starting to trim. it's just had such a great run. so deploying it into american tower, raytheon, looking at other areas that we're buying. >> good stuff. we'll do "final trades" next. trading at schwab is now powered by ameritrade, giving traders even m

book, and in this hour, you've got a number of industrial companies that are going to be reporting, bhp, csx, to get a sense of the industrial part of the economy, that's going to do it for us here at "overtime." >> "fast money" starts now. >>> live from the nasdaq market site in the heart of new york city's times square, this is "fast money." here's what's on tap tonight. a bank bifurcation. shares moving in vastly different directions since earnings season kicked off. how should you read into the results and what do they say about the state of the market? >>> plus, 34-year lows. japan's currency trading at levels not seen since new kids on the block were topping the charts. will the yen keep moving lower step by step? and why does it matter? >>> and later, united health keeps the dow in the green. lvmh shoppers tighten their purse strings, and bitcoin, is it heading even lower from here? i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- carter worth, karen finerman, dan nathan, and tim seymour. we start off with the post earnings divergence in the

bhp was looking for was their copper mines in chile and peru. >> copper is widespread from phones tok how this is inflationary as we await powell tomorrow? >> that's the point that is copper is in absolutely everything. demand was already there and talk about things like the china property market bouncing back, the energy transition and now ai and data centers and what that means in terms of grade upgrades, that all increases the demand. in order to build a new mine it takes 15 years. it's difficult for the miners to now forecast -- how can they forecast building a new mine when they don't know what the price is going to be. so far it hasn't been high enough to incentivize all of that cap x and also shareholders haven't wanted that. we have seen the same thing in oil and gas where shareholders want steady discipline and not signaling we're going to invest billions of dollars in a new mine that won't come to fruition for a decade and a half. >> not to mention environmental issues that might arise around building of new mines wherever they might happen to be. >> pippa, thank you. pippa

bhp miners. not just copper, not just gold, but a little bit all over the place.sten, i think this licensing deal is positive. it's more positive for baidu. >> dan? >> yeah, the google looks like it wants to fill in, if it gets back towards $160, i think you reload. >> guy? >> i know there are sixer fans out there that watch "fast money," i mean -- >> are there? >> that's too bad. >> i don't know. a lot of knick fans in philly. >> there were. >> courtney was talking a lot of smack before. ali ban ba. >> thank you for watching "fast money." watching "fast money." "mad money with jim cramer" starts now. >> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. my job is not just to entertain, but to teach you. apple and tesla led the market today. nasdaq climb%.

the ft is something about bhp, which i don't understand . the ai is leading understand.ng with world's first jab to stop skin cancer brings hope for patients. those were your front pages for friday. that's all we've got time for. i'd like to thank my wonderful and rather charming guests josh howie and nick dixon. we're back tomorrow. of course, when i'll return with josh and leo kearse. and if you're watching the 5 am, repeat right now, please don't go anywhere because now it is time for breakfast. >> that warm feeling inside from boxt boilers sponsors of weather on gb news. >> good evening. here's your latest gb news weather forecast brought to you by the met office. it's going to be another rather chilly night for many of us, and there will be some showers around and more showers to come as we go through tomorrow. due to an area of low pressure just out in the north sea, bringing a showery theme to many places. some further showery rain through this evening and overnight across southern parts. and here it is going to stay pretty cloudy keeping temperatures up elsewhere

bhp made a takeover bid for anglo american, creating the world's biggest copper miner, though passing governmental approval is a different story. best story of the day, the jeffries ceo has sold 65 million shares to get himself a got. in a statement he said that the sale was a gift to himself and his family and he doesn't intend to sell further shares and that he remains oldish and committed to building a full-service investment bank. it's the first stock sale he's made and 35 years at the investment bank and if we are ok with bezos selling his shares in florida, what is a yacht between friends? jonathan: love that story. i think so many other people did, too. commenting on anglo american, copper, the new diamonds, the journal is reporting they might spin it off before they complete the sale. lisa: and it raises the question of the domicile around the company and what london is going to do in terms of serving as headquarters for these me -- major mining companies. jonathan: up next on the program, the big spender from meta. >> the expectation was that we were going to keep the costs i

bhp bids for anglo is riddling to the copper markets. for the first time in two years.y issues among the metal. they would rather buy arrival them build new projects. it tells you it is just too offensive. blackstone says prices need to hit $12,000 before new mines make sense to be built. jonathan: thank you. we will catch up with dani in about 30 minutes. the case for buying bonds. >> the yield is what matters. the yield is what wins. yield remaining high really continues to be the tail for the bond market. jonathan: we will catch up with gershon distenfeld just around the corner. ♪ tamra, izzy, and emma... they respond to emails with phone calls... and they don't 'circle back', they're already there. they wear business sneakers and pad their keyboards with something that makes their clickety-clacking... clickety-clackier. but no one loves logistics as much as they do. you need tamra, izzy, and emma. they need a retirement plan. work with principal so we can help you with a retirement and benefits plan that's right for your team. let our expertise round out yours. jona