liz: always a pleasure, larry fink of blackrock. sure the bank earnings did shed new light on how the fear surrounding the collapse of silicon valley bank was a boom to earnings at the big money center banks and asset managers like blackrock but what is that fear doing to the startup world and small businesses in america which feed off borrowing money? it's their mother's milk. with stunning new numbers out on the approval rates of small business loan requests, up next, entrepreneur julie wayneright, founder of the real real on what the staggering stats reveal about the startup landscape and what today's retail report indicates about consumer health. closing bell 45 minutes away. dow is down 243. the "clayman countdown" is coming right back. don't move. first, there's an idea and you do something about it for the first time with godaddy. then before you know it, (it is a life changer...) you make your first sale. small business first. never stopped coming. (we did it!) and you have a partner that always puts you first way. (no way!)

let's bring back in wei li from blackrock. want to rip up the script a bit and get right to your calls. let's get right to credit. where are we adding? wei: high yield still. we have trimmed to only modest overweight. we are closer to neutral because on currency hedging and duration management, it gives us about 20, 30 basis points of additional spread. we like credit still but with investment grade credit europe over the u.s. at this point. we also prefer emerging markets overdevelopment market at this point. we see a recession ahead. that is not quite priced in. currently pricing in coming to the rescue. we do not believe that will happen. greater selectivity on sectors because of quality. emerging market on the other hand, pmi to the downside. there is more that can be done to boost the economy with broader growth momentum, emerging markets also favor the court that we have currently. tom: things really stood out yesterday. when it comes to the u.s. dollar, i wonder if you really tie that into your view. do you see further

cramer will stick around for blackrock and larry fink don't go away. >>> good friday morning.o another hour of "squawk on the street. i'm sara eisen with carl quintanilla and david faber, live from post nine at the new york stock exchange. jim cramer, lucky to have sticking around for the top of the hour we have an exclusive interview with blackrock ceo larry fink at post nine to break down his company's latest earnings and what he's seeing in the environment. stocks in the early going, little bit higher. dow weighed down by boeing, the s&p up, getting a confidence boost by the big banks reporting some good numbers. >> lot of data today and fresh data hitting the tape. rick santelli. >> yes a lot of fresh data. we're looking for business inventories and university of michigan sentiment to hit at the top of the hour. we know retail sales on the weak side, but despite that, rates moved higher business inventories for february up 0.2. we were expecting up 0.3 april preliminary will change mid-month, of course 63.5 much stronger than expected. that's the best level since february

su: blackrock is becoming a big advisor to the fdic.re brought on earlier in april and we will be kicking off the sales were the fdic needs to offload 114 billion dollars in assets. any of the mortgage related that have picked up from silicon valley and signature bank. blackrock expected to ramp up trading took four days a week, up to $2 billion a weekend it is expected to be orderly. in terms of aftermath of these failed banks, many of the others causing investors not only to withdraw assets, but a lot of banks to sort of hold off on activity. wells fargo became the first in selling bonds, the first to do so post svb. it is the first large u.s. bank really to sell bonds since the collapse. we are seeing a lot of deposits return to small banks. the banking turmoil caused many american investors to learn for the first time that anything over 200 $50,000 was not insured. smaller banks saw a lot of outflows. we are now seeing a return to those, a lot of those deposits. that is an indication that many are starting to put the banking turmoil

it seems to be supporting the blackrock thesis.: when you have this dynamic where central banks not going to come to the rescue and the way we thought they would, you've got to rethink -- tom: the markets are pricing in cuts by july. vivek: we take the other side with the u.s. picture and we see rates will be above what the market is pricing and when we get further out. that is an important distinction. what is the portfolio you hold as a result of that? the traditional correlations between equities and bonds will we have seen some elements of a reversal normal in the past few weeks but this is not the time to go back to the old playbook. for us the traditional way of building portfolios needs to be different. there are a whole bunch of ways in which we need to do things. tom: it's the death knell for 60/40? vivek: i think so and that gets a lot of headlines but the point is the traditional roach building portfolios needs to be done in a different way. the lacks -- last several years it was hard to do much better than that. if you

here is the thing the blackrock of the world they want a return on their investment.et his customer base back, i don't think they forgive but the people forget. his blackrock making a bet, the stakeholders and shareholders who want money, are they betting. i hear pete yelling no. they make it a bet that pete and others forget and go back to bud light. >> that is a bet that they are making, that is the wrong bet. now is the time to go back for cavities like anheuser-busch to say moving forward for brands like bud light were not getting political were not quite get involved in the environmental, social governments movement that's not what the customer wants what they want they would have things that bring us together they want humor in the delete delete guys and they want football and the things that bind us together as coequal citizens not necessarily heavy but like involved in political controversies. it's in a political brand out there between democrats and republicans alike. will: the early are, not just this company but they are already political and my belief they

su: they have gotten blackrock.krock is increasingly being used as an advisory, they were hired on by the fdic early in april and now they will kickoff the sale of those assets that fdic took on with the sale of those banks. and they are expecting to put billions of dollars of these assets on sale. about 1.5 to $2 billion a week going forward. meanwhile in terms of what is going on in the wake of the collapse of svd and two other banks, wells fargo is the first of the major u.s. banks to, after this turmoil, though back into the corporate bond market. that indicates that there is a lot of skinny nurse, or looking at the turmoil as being in the rearview mirror. another thing we are seeing, a big drop in deposits with people fleeing small banks. there has been a slight uptick recently and it also indicates that investors are starting to feel safer in the smaller banks, as well. back to you. su keenan, there are banks. rishaad: we have u.s. listed shares down, jp morgan cutting this bank. this against unfavorable macro

we get results from jpmorgan chase and citi and wells fargo we get blackrock and united health we will dive into the banks in a moment the bond market is steady as she goes the important thing is the yield on the 2-year treasury is still below 4% >>> turning to energy. comments from the iaea saying the oil supply deficit in the second half of the year. right now, we are seeing the u.s. benchmark at $82 a note here. natural gas is up 1% this morning. >>> cryptocurrency with bitcoin above $30,000. the story here is ethereum above $2,000 after the shanghai upgrade at $2,100. up 5%. >>> time for the check in the overseas action. early trade in europe with arabile gumede who is standing by in our london newsroom. arabile, good morning. >> good morning, frank it is a good friday by the tilt of things, especially when you look at the european index some general sense of positivity investors digesting the ppi number that came out yesterday of the united states surprising to the upside we are waiting for more data to come out and investors are looking to the earnings season to get a sense of wh

i was taken on incumbents like blackrock and vanguard and state street, those three institutions aloneension funds across this country. they have captured the system. and when you have large incumbents in a near oligopoly, an esg oligopoly, yes, that captures the system, you're right, it is hard for a new incumbent to break in, especially when you're coming in with a different message >> austin: yeah, you stepped back. but according to the nerds at the sec, you still own a majority stake in strive between 50 and 75%. do you wanna send a heartfelt message to your employees back at the office making anti woke investments while you're out here on your completely unrelated anti woke presidential campaign? >> vivek: well, i've actually never used the word anti-woke. i am pro-excellence. i think that's one of the things we miss in this country, is that we like to put labels on things as opposed to asking what it is we actually stand for. i stand in my presidential campaign for actual values, the individual, family, god, the nation. that's actually what i talk about. but i know a lot of left

the blackrock investment building in paris will tell you why we'll take you there. political chaos in north carolina. that's after a state lawmakers switches parties and gives republicans a veto proof majority what it could mean for abortion rights and future elections. also the special counsel investigating donald trump could finally get testimony from former vice president mike pence. that could be incredibly significant. you know, it's a month of pushback, and now pence, it appears, is going to finally testifying. the special counsel's investigation into trump and his actions on january. six. a spokesman for the former vice president says he will not appeal a judge's ruling in order that he must appear before the grand jury that's investigating the insurrection and trump's efforts to overturn the election. that means pence could testify about the one on one conversations he had with trump leading up to that day, including what we know is a heated phone call that happened the morning of the riot when pence, refused trump's efforts to get him to try to block the ce

let's bring in your guest, the cio and head of asian credit at blackrock. cpi is still strong at about 5%. labor market also pretty robust. it is 25 in may, but is it one and done? >> i think we are getting to the point where the fed has the option to actually hike one more time and pause. if it is one and done will depend on the data, but one thing to have in mind is the expected path to inflation. history does not necessarily repeat, but it does rhyme. going back to the historical experiences, premature cuts will be a challenge and i don't expect to see a next -- and aggressive cutting cycle from here, but we are at loan of rates that the fed can pause after the next hike. haslinda: some suggest when you look at the yield curve from here, some form of normalization, however you interpret that, is likely to happen. >> it depends on every person's definition of normalization. i would argue the steepening of the curve we saw has been driven by a lot of pricing of rate cuts on the front end of the curve. if anything, we will probably see flattening from here,

fidelity and blackrock that is not to say there are not strong providers built heavily on product, but service. ability to give a really high touch to investors is really light. >> i'm not sure if this is within the scope of the survey i'm curious within the fund management world how funds selectors think of single manager funds against the pod. if there is a trend you could comment on >> i think around that, i think we see a shift away from star managers over time less conversation about star managers what you need to consider is you still need the managers to be able to go and talk to the investors. actually you don't want to build a staff, but you need a manager known to investors and willing to talk to investors and whether that be physically or more and more often on webcasts or phone calls and so on. >> that's interesting. that makes sense what about green credential? how does this factor into fund selectors decision making >> how are they judging? >> it is an area influx. it is more important for fund selectors. of all of the fund selectors, majority are using sg funds in certai

susan: one of the biggest discussions on wall street, blackrock ceo larry fink selling 7% of blackrock25 million and this goes back to questions over elon musk's stock sales. $3.6 billion that he sold just at the end of last year, but the question of timing because it was just before the january 2 warning that fourth quarter deliveries would miss badly and not a stock sale or paying for twitter or taxes but there's always questions when there's no reasons given on why executives are selling their own company's spare shares. what do they know that others don't? stuart: good question. cover at&t and they're up today but -- susan: worst day in 23 years yesterday and this used to be a much bigger stock in the past. upgrade worth $21 billion and recovery and amazon outperformer and cutting thousands of whole foods corporate jobs and speaking to earnings on thursday and jp morgan calling it a best idea trade, which is why the stock is rallying. stuart: you don't believe i follow insider buying and selling on corporations. you're skeptical. susan: i was skeptical about airbnb and warren buffe

meanwhile, a blackrock guest says despite growth concerns there are some bright spots.uest: even a time of below trend growth should warrant rebuild of risk premia in corporate credit. high-yield has outperformed ig year to date. all of the concern for downside risk to growth, we haven't seen that manifest in the lower quality parts of the market. katie: our guests are still with us. alexandra, it's striking when it comes to high-yield, this is one of the least loved rallies i can remember. is that warranted? should it be? >> guest: guest: in terms of four a multi-exit framework and high-yield credit doesn't look so bad. you're talking at loans of 9.5% yield. default rates are somewhat low. if you have the view that default rates will be low and may be the default side is somewhat longer in terms of the cycle, then it does represent some opportunity to have some carry in the portfolio while we are navigating this cycle ultimately may be going over year and. katie: equity like returns, are you talking about high-yield credit broadly or specific type of structures? guest:

many cases defending the fossil fuel industry publicly and taking on esg investment standards at blackrock like when we spoke to lawyers who are ethics experts, who used to run the busch white house ethics team years ago was saying that base basically this appears a conflict of interest because again, these are powerful executives at the state level, leaders, who have the power to move money around based on their -- >> they have control of some state funds that would be like a state purpose fund or something like that. >> meanwhile they are potentially profiting off the fossil fuel business -- >> dot pro esg state leaders have quiet stakes in clean energy companies that would benefit from their legislative push >> not that i've seen so far there have been smaller companies here and there that i caught wind of when looking through the disclosure, but nothing as big as exxon and chevron. we're talking about the giants that we really found in this, conoco phillips. some cases look, the fossil fuel business is a big player in some of the states like texas and missouri, so there's the other sid

stuart: brach rock, the e -- can blackrock, the esg people.lion in assets under management for larry fink and his blackrock firm. of their sales and profit missed, so it wasn't great in terms of quality of actual earnings this year. stuart: you've got to coffer the cryptos, because they're off and running again. susan: yeah. ether is up 12% mt. last two sessions. you're back above 2,000, highest level since may 2022. and the reason? well, because of that systems upgrade that i told you about, right? stuart: yes. >> a. susan: that makes more ether available, morally quiddity, makes it easier to buy things. stuart: it's a wonderful thing. susan: do you want to check coinbase? stuart: i really want to get to the walmart selling the clothing line. susan yeah, i was surprised, tear selling it to express and whp global, price tag roughly $75 million. but all of a sudden bonobos, which i thought was a male clothing chain, has been called an e-commerce play. it's interesting that walmart's going to get bigger in e e-commerce, but they're selling it of

to maria's point, while inflation is low in china and the united states, blackrock increased its overrate call -- overweight call on inflation, saying price pressure remained sticky. a strategist writing we are going to be living with inflation. we see inflation cooling a spending patterns normalize and energy prices relent, but we see it persisting above policy targets in the coming years. that breakdown maria was just talking about between what the central bankers one and finance ministers want. i want to bring in the chief economist at ff investments. let's talk about the pace of deceleration. i think it's clear deceleration is growing around the world. but are you concerned about a more rapid deceleration or more robust drop? laura: a recession unfortunately is in my forecast, but for later in the year. right now, what we have seen is the economy retains a lot of momentum. this is typical. it's when the fed is raising rates, we had high inflation, we had so much spending and wealth built up within our economy, it is just taking time and those tailwinds were really strong. this is wher

blackrock's jay jacobs. jay, i a mean, what's your overall thesis? let's start with the macro picture. for investing the rest of 2023. >> these are choppy markets. we're still uncertain what exactly is going to happen with interest rates, so we're looking at quality stocks, companies that are profitable and companies that that don't have a lot of debt because you want that quality in a market like this where you're just not really sure, are we going to the escape without recession, or do we need to get -- liz: when you say choppy, that means some of these sectors which are pretty sexy right now are kind of scary at the moment, but let's start with a.i. and e -- evs, the double initial ones we'll begin with. artificial intelligence, there's so many headlines hitting the tape, not the least of which is that, obviously, nvidia has a double upgrade because a.i. chips that it makes can command a much higher price. but microsoft has, apparently, a code name project called iowa three that where it's creating its own -- iowa three that where it's creating it

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there is an actively managed blackrock commodity strategies, the shares are too expensive, look for thenstitutional shares, get to a broker with lower investment number. jack otter: how will increasing global tensions work nicorette knows quitting smoking is freaking hard. you get advice like... just stop. go for a run. go for ten runs. run a marathon. instead, start small with nicorette, which will lead to something big. hey, i'm a palm springs hotel. i got the desert air, sun-kissed pools, and shady hideaways. i'm looking for someone who can decide on a friday night that a one night commitment is a fine idea. what do you say? meet me at hotels.com jack otter: citigroup calling attention to unstoppable trends people need to future proof there portfolios. here is global head ida liu. >> thanks for having me. jack otter: great to have you here. i want to get to these unstoppable trends. this 2023 report, a couple of statistics caught my eye. one was the prediction that global growth would be one. 7%, you bumped that up to 2%, that is slow by historical standards. >> 40 year lows in terms

there is an actively managed blackrock commodity strategies, the shares are too expensive, look for thenstitutional shares, get to a broker with lower investment number. jack otter: how will increasing global tensions work ♪ whenever heartburn strikes, get fast relief with tums. its time to love food back. ♪tum, tum tum tum, tums♪ sfx: [alarm] every day you get to choose. do i want more? can i grow stronger? can i get better? bodyarmor lyte. more than a sports drink. jack otter: citigroup calling attention to unstoppable trends people need to future proof there portfolios. here is global head ida liu. >> thanks for having me. jack otter: great to have you here. i want to get to these unstoppable trends. this 2023 report, a couple of statistics caught my eye. one was the prediction that global growth would be one. 7%, you bumped that up to 2%, that is slow by historical standards. >> 40 year lows in terms of global growth outside the pandemic, and we bumped that little bit to 2%. some positivity in the european region as well. it to tough and volatile year for investors. we had seven rat

there is an actively managed blackrock commodity strategies, the shares are too expensive, look for thenstitutional shares, get to a broker with lower investment number. jack otter: how will increasing global tensions work? i will ask city mobile head dana liu next. >> "barron's roundtable" brought you by global x beyond ordinary etfs. visit foxbusiness.com/"barron's roundtable". trying to control my asthma felt anything but normal. ♪ ♪ enough was enough. i talked to an asthma specialist and found out my severe asthma is driven by eosinophils, a type of asthma nucala can help control. now, fewer asthma attacks and less oral steroids that's my nunormal with nucala. nucala is a once-monthly add-on injection for severe eosinophilic asthma. nucala is not for sudden breathing problems. allergic reactions can occur. get help right away for swelling of face, mouth, tongue, or trouble breathing. infections that can cause shingles have occurred. don't stop steroids unless told by your doctor. tell your doctor if you have a parasitic infection. may cause headache, injection site reactions, back p

we just ran with one from a man who used to work for blackrock and knows a lot about esv's as a resultf that. but he's becoming skeptical and he wrote a big piece walking through i know this better than anyone in this is why it's not working. this is why it is not effective. that's the kind of peace -- who else is going to run that? you -- the wall street journal might agree but they can't fit that in there. what mainstream

now, we get results also from blackrock. this could be a good number you but inflows might be so-so that said i'd be a buyer of this if it comes down because the asset manager know a compelling long-term winner then united health which might be the most consistent beat and raise company in the dow jones industrial average this is a stock i would buy ahead of the quarter if it comes down because of all these things that we hear early on. the government releases aggregate retail sales on friday too. i think that's going to support my -- i can't believe i came up with this. long on money short on time thesis which means people will buy less stuff but spend more on services, largely travel and leisure. bottom line, earnings season will be a tale of two tapes. a slowdown generated by bank issues on one tape and decent earnings particularly from tech in the other that should prove to be the best sector this earnings season because alas tech's exactly what you buy at this point in a fed-induced slowdown but i'm begging please, plea

the blackrock investment building in paris will tell you why we'll take you there. political chaos in north carolina. that's after a state lawmakers switches parties and gives republicans a veto proof majority what it could mean for abortion rights and future elections. also

blackrock. the nation is under attack from hate.hat is the conclusion of the national urban league's annual report on the state of black america. the report hopes to raise quote the alarm around the explosive growth of far right and domestic extremism and the threat it poses to our communities, our families and our nation this coming five days after a white 84 year old homeowner shot 16 year old ralph funeral after the team simply rang his doorbell by mistake. take that man told investigators he was quote scared to death. due to the boys size and he turned himself in today. joining us now for a big conversation on this. laura returns cnn correspondent omar jimenez and eric cumberbatch from the center for police equity. welcome to you all. you know, eric, this idea that the homeowner was scared of his size. it calls them my cases like eric garner, who was 63 or george floyd, who was cited by police for why they needed to restrain him. his size was cited by police. how tall are you allowed to be as a black man in america? that's a gre

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morgan got right out of the gate with bank of america, blackrock and citibank all moving higher.: bank of "america reports" on tuesday expecting good numbers there as well. let me get your take on whether or not you want to buy the stocks. the bar was lowered as the stocks were down going into the numbers, they were all up on friday. >> i do think, i like the banking stocks in j.p. morgan and becky of america are made favorite, the two that i own and bank of america if you look at it that had gotten really beaten up and i think this huge opportunity in bank of america it was down 13% and i think j.p. morgan was off 3% golden was off 6% but bank of america got really hammered. there's a great opportunity in bankamerica a big mega cap in the space that i like so we will look for opportunity, j.p. morgan i own it and love it but it took off so i'll wait for it to pull back. >> these were the unique set of global banks that have benefited the silicon valley collapse. the other banks may not have, deposits are down. >> it is wait and see what happened to the regionals and some of the

we just ran with one from a man who used to work for blackrock and knows a lot about esv's as a resultf that. but he's becoming skeptical and he wrote a big piece walking through i know this better than anyone in this is why it's not working. this is why it is not effective. that's the kind of peace -- who else is going to run that? you -- the wall street journal might agree but they can't fit that in there. what mainstream publication -- the new york times is never going to touch that. that's the advantage we have in terms of being able to run things at all different lengths and arguments coming from different perspectives all united around that idea of the importance of free markets and standing firm on that. thank you so much for your time. [applause] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] [captions copyright national cable satellite corp. 2023]

blackrock. let me be direct.me people are paying more than double for teeth straightening with invisalign and then their smile. direct club you get a smile you love directed by one of their doctors with a liner set directly to you the savings go directly to you 60% less than invisalign and smile. direct club guarantees your smile for life. your life smile, choose direct them. i love that song. a one c stayed here. it needed to be here. raise a one c is down with rebels is down with rebels is my a one c is down with rebels is a clinical study once daily rebels a significantly lowered a one c better than a leading branded pill. in the same study, people taking rebels lost more weight rebels. this isn't for people with type one diabetes don't take rebels is if you or your family ever had medullary thyroid cancer or have multi endocrine neo pleasure syndrome tattoo or if allergic to it, stop or they'll sit and get medical help right away. if you get a lump or swelling in your neck, your stomach pain for an allergic r

to his right we have alberto, who is with blackrock, where he is managing director for financial markets advisory group. next to him we have julie at citi. next we have sergii, who is deputy director of the bank of ukraine, and last but not least, scott, who is chief executive officer at the united states international development finance corporation or the d.f.c. bios are online but i will point out that all of these distinguished professionals have one thing in common which is a great deal of experience in finance, really the crossroads of the public and private sectors. so let's get started with, mr. secretary, deputy secretary graves, considering the significant financial needs that ukraine will face for its reconstruction, what's the administration's view, where will the money come from and how will it be administered and by whom? >> well, first let me say thanks, john, to you, to zue stkaopb and the entire chamber team for hosting -- suzanne and the entire chamber team for hosting this event. it's critical we begin this focus on the partnership and rebuilding ukraine. i should star

. >> blackrock will begin to sell banking securities. >> they were hired in april as an advisor to the fdic. they will help them get rid of close to $114 billion of assets. it highlights what is going on with these banks. they are kicking off with the mortgage-backed security sale tuesday and continue the process later in the week. it will be very interesting to see how the sales go. if we drop into some of the stock charts, what we can see is a lebanon -- leveling out of the banks. regional banks performing one way, but we are seeing deposit start to return, so confidence in many ways beginning to come back into the area while the uncertainty still a question for the banks. back to you. >> su keenan there with the latest on the banking sector. we will continue to watch major earnings support this week from bank of america, goldman sachs and morgan stanley on the calendar. let's see what is moving the markets right now. what are you seeing? >> the big question is whether equities are really priced appropriately for the slow down. we are watching that vix sitting around the 17 level. pe

interesting point, it is not so much shareholders of bud light, it is activist investment companies like blackrockying have you to incorporate esg into your business. i have said, businesses stick to business, just because somebody is telling you it is right thing to do, does not mean it is good for the bottom line. it will affect employees and shareholders and 401(k)'s, it will affect our retirement. stay out of pot politics. >> todd: is this supposed to han when you fly? >> cheryl: fires no, with the bird, it does happen. this flight turned around after takeoff, video taken of the sparks, imagine fire sparks coming out of the engine, you don't want to see this. look, these aircraft are designed to fly on one engine, the plane turned around and landed safely. maintenance took care of the engine and back in the air. birds are -- >> todd: update on the bird? >> cheryl: i think rest in peace. >> todd: work on that and give us a confirmation later. united states evacuating embassy personnel from sudan and now foreign governments could be looking to move in. congressman marianette miller-meeks will te

gargi pal chaudhuri from blackrock financial up next. lisa: keeping you up-to-date with news from around the world. donald trump denounces his indictment. the former president spoke of his estate in florida hours after he pleaded not guilty to the 34 counts of his records. taiwan calls the meeting with kevin mccarthy a rare opportunity. she met with members of the party and the republican library. brinson johnson was elected to chicago's new mayor. he defeated paul fallis who made crime the focus of his campaign. johnson wants to raise taxes on corporations to boost chicago's revenue. in the u.k., business confidence crept up but only a third of firm saw an increase in sales. inflation is weighing on consumer spending and adding to cost for companies. johnson & johnson has agreed to spend 8.9 billion to resolve all cancer lawsuits tied to the talcum powder. it will make a new attempt to contain viability with the bankruptcy filing in one of its units. powered by more than 2700 journalists and analysts in more than 120 countries. i am lis

i was shocked to see that vanguard is pushing this and blackrock is pushing this. >> it's a huge issuees, and small and large companies. this came at the same time tiktok was scrutinized. social media amongst your customer base is really powerful. so when you make a misstep somewhere and if that goes rogue on to social, the damage to your brands is billions of dollars. beside just being pushed by either investors or shareholders, whoever is running the company has to be savvy to social media in a way they never had to before. you don't want to lose $6 billion in market cap. the minute it goes rogue it's seen all over the world. that's a case study in what not to do. brian: if you factor that in with ron desantis staring down disney. they pushed back and disney has been on the ropes ever since. unlike what happened in georgia when major league baseball acquiesced because they misinterpreted what the voting bill would be. >> here is wait is in a watershed moment. ceos including disney, don't get into politics, get into policy. you can discuss policy until the cows come home. but the minu

i was the first elected official to divest from blackrock, that was over a year ago.restricted financial institution list here that said look, if you boycott the fossil fuel industry, you are not going to be able to be eligible for contracts for banking services here in state government in the state of west virginia. guess who made the list? j.p. morgan chase made the list, i cancelled tens of millions of dollars of contracts with j.p. morgan chase. we passed proxy voting bill to regain our voice in our pension fund. we've done tremendous amount in west virginia, there is more to do, i lead this fight and i am running for congress to be able to take this fight to the next level. >> guy: riley moore, thank you for your time this morning. >> thank you. >> guy: country star travis tritt cutting ties with anheuser-busch. >> ashley: tyrus will be here live and we'll ask what he thinks about it, beverly holberg and cheryl casone are on deck for a jam-packed 5:00 hour of "fox and friends first" on your friday. ♪ ♪ we planned well for retirement, but i wish we had more cash.

that head up blackrock investment institute joining us next. ♪ ahhhhhh business license guidance?rder sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh everything's changing so quickly. before the xfinity 10g network,hhhhh we didn't have internet that let us play all at once. every device? in every room? why are you up here? when i was your age, we couldn't stream a movie when the power went out. you're only a year older than me. you have no idea how good you've got it. huh? what a time to be alive. introducing the next generation 10g network. only from xfinity. the future starts now. >> european stops -- stocks are down. they have been in the doldrums, but we get some direction. we are a two week lows. the content of the close starts now. >> the countdown is on europe. this is bloomberg markets: european close. with guy johnson and alix steel. >> european stocks are down 1%. stocks are down by 9%. 9/10 of 1%. ne

alix: that was our guest from blackrock earlier. does the economy need a rate cut?sm services come below estimates but above the 50 level. joanne feeney joins us. is the data justifying the three rate cuts priced into the market? joanne: it does not look like that is appropriate yet. inflation is still persistently high and the fact that we are seeing more and more of the data is a testament to the rate hikes we have seen. it does not mean that fed is done. they are going to hold at that level for quite a while. unless something substantial happens in terms of the credit restrictions from banks. guy: is the bond market wrong? is the two year wrong and is there a mispricing i could take advantage of? joanne: it would not be the first time. the past year we have seen to--moves in the bond market underestimate the determination to get inflation under control. the fed was going to cut rates and the fed comes back and says no, we have a lot more work to do. it seems to me the bond market is getting ahead of where the data suggests we will be in the next six months. alix:

cheryl: blackrock pushing all of this, on. >> backpedaling like crises on this texas really got upset with pension funds said larry we're not onboard. >> thank you so much kelly o'grady, next hour of "mornings with maria" begins right now. good wednesday morning. thanks very much for joining us this morning, i am maria bartiromo. it is wednesday, april 26 breaking this morning uk is blocking microsoft 70-billion-dollar acquisition of video game activision blizzard a blow for giant microsoft says remains fully committed and will appeal this decision, they are committed to a -- deal with activision take a look at stocks activision blizzard down better than 11% microsoft shares up almost 8%, meanwhile, this, whose speaker kevin mccarthy efforting a vote on gop debt ceiling bill as soon as today or tomorrow texas congressman joined me earlier, tell me he was optimistic about this bill, watch. >> right now i support the bill, i think that i think we're going to get there this is really important we've got to get something on the table to send over to senate, side of the -- of congress so w

bloomberg spoke with blackrock vice chair, he was a former swiss banker, and had good insights into this to suisse collapse. he says swiss officials did well not just by the national economy but the global financial system. he says the question will be how ubs positions itself in the market. we talked to philip about what we are seeing in markets, the expectation from traders at the fed are looking to cut rates at the end of this year. >> the idea that you have rate cuts coming up seems to be optimistic. the central banks know what they need to do, it for them what is different from the previous two generations of central bankers, is that we have been so used to the fact that every time there is a problem, central banks come and ease. now we are in a different environment, they have to create a recession. shery: on central banks, bloomberg economics says the changes being proposed after the independent review would cause a shift in the immediate rates outlook. substantively is the question, if there was a question being asked about which is impossible to answer, if these changes had been

blackrock vice-chairman has praised the swiss government for the way it handled the collapse of credit he spoke at the bloomberg new economy europe forum in ireland. >> given where the authorities were at that point, it seems that the government in particular has done a very good job. not just for switzerland itself, but also for their global financial system. the question now will be how does this settle? and how his ubs position itself going forward, given the quite intense political discussions in switzerland around competition, size, and many other issues. tom: bank of america chief executive brian moynihan has weighed in on recent industry turmoil while speaking at bloomberg's sell side leaders forum in new york. he said banks are in good shape, and the disruption did not rise to the level of crisis. >> at the end of the day, crisis is too strong a word. words like that it used a lot. but there was a fair amount of disruption for a few weeks, certain business models were through. but on the other hand you see stability in other business models. tom: banks have increased emergency

blackrock is betting big on real estate. -- blackstone i should say.ls on their new deal next. this is bloomberg. ♪ >> this is bloomberg markets. tune into bloomberg crypto today at 1:00 p.m. new york time, 6:00 p.m. in london. this is bloomberg. keeping you up today with news from around the world, here is the first word. president joe biden is traveling to belfast in northern ireland where the u.k. prime minister is expected to greet him as he steps off air force one. biden will travel to dublin to mark the 25th anniversary of the good friday agreement. a recent leak of allegedly classified documents about the war in ukraine and u.s. spying may cast a shadow on an otherwise celebratory visit. in north korea, kim jong-un has called for what were described as practical and offense of capabilities as pyongyang cut off communication links with south korea used to reduce tensions on the border. korea has tested new weapons and systems to deliver nuclear strikes against the u.s.. south korea, and japan. russia will expand penalties for draft evaders aimed

as we see, blackrock, the ad set management is coming out from wells fargo. what is happening in the reverberations of tillich on valley with deposits going to the key u.s. banks. the two-year yields are rising on that data. on the worry that inflation -- inflation pressures are there. risk assets are not moving at parallel. look at the five-day rally we are seeing. in the world of eve. we saw an upgrade will efficiently, and people are feeling positive around the world of cryptocurrency, but digging into the bank news. >> i want to look at transport really quickly because boeing is down significantly. along with the 737 max, it is delaying the liveries on the stock. tesla earnings are lower to end the week, but down almost 8%. one of the most bullish names on the street is cutting its price target to a street low. weighing on the stock. cast raising concerns. you can see it continue to struggle for first-quarter deliveries below expectations. i like this story because we look at how the banks are performing following earnings. we didn't get to the numbers, b