bloomberg. romaine: it is 1 p.m. in new york -- matt: it is 1 p.m. in new york. these are the top stories we are following for you around the world. toyota unveils its latest concept car. we will go live to the shanghai motor show and speak about the first of a global series of battery electric vehicles. then we will bring you the latest on cryptocurrency, the crypto stocks with the founder of the chamber of digital commerce, the world's leading trade association for digital assets and blockchain. plus we will have the latest on the vaccine rollout with a doctor from the johns hopkins bloomberg school of public health. first a quick check with what's going on in the markets. we have gone steadily lower throughout the day. the s&p down about .7%. the bloomberg dollar index continues to trend lower even after its worst week of the year last week. we have been seeing an inverse relationship in those two assets. but today, it's not showing up that way. it is working out that way at the pound. the ga

this is bloomberg. ♪ matt: welcome back to "bloomberg markets: european open."are 36 minutes from the start of trade, ftse futures are higher. continental futures not doing as much in terms of movement. that has been a theme the last three sessions. a lot of gains in the ftse have been coming from pound weakness. we will get back to thanos vamvakidis, managing director / head of g10 fx strategy, bank of america merrill lynch. he is a great person to talk to about this. a lot of people have been talking the past few days especially since astrazeneca, another nail in the coffin to some extent as the u.k. said no more astrazeneca vaccine for people under 30. that is when you saw pound weakness, especially against the euro. if you look at this chart, you will see the pound had been gaining strength against the euro. and all of a sudden you see a big jump in the euro against sterling. is that vaccine related? thanos: to an extent, yes. [indiscernible] now the market will accelerate in europe. a positioning adjustment was inevitable. where we go from here, we know the

we welcome our bloomberg and bnn bloomberg audiences.the top stories we are following from around the world. it is potentially going to be the biggest railroad deal in decades. the latest on cn rail's $30 billion bid for kansas city southern, topping canadian pacific. and the latest headlines out of apple's first product launch in 2021. we have seen updates for podcasts, talks about its credit card and a device that helps you find stuff that you lost. and manufacturing, a now or never moment. we will speak to katy george on their findings about the biden infrastructure plan and why it is critical to bring jobs back online. amanda: a little bit of weakness out there today. nasdaq leading the broader markets lower. it is the tech groups and the faang contain groups in the s&p 500 showing up as the weakest spots. rate sensitives doing ok today but no help from energy, industrials. overall a fairly weak picture. even as the 10-year yield, 1.55, off of its recent highs. we have also seen energy as a weak spot, on the one-year anniversary of c

this is bloomberg. ♪ s bloomberg. ♪ haslinda: will come back. the latest business flash headlines. tesla has pledged to keep any data it collects in china in the country, addressing concerns of sensitive information being collected by cars built there. an official says the company abide by chinese laws, adding, its data is well protected. elon musk has denied tesla vehicles would be used for spying after they were banned from chinese military and housing complexes in march. surging asia sales helped them soar past estimates. revenue jumped 52% compared to last year. in asia, revenue was up 86%. the division was a key driver during the covid crisis thanks to growth in various brands. europe was the weak link. revenue slumped by 9%. kkr expects to raise more than $100 billion by 2022 after bringing in a record $44 billion last year, as investors seek higher assets. they said the company is seeking capital for more than 20 strategies this year. the asset manager has been among the most active dealmakers during the pandemic, housing on technology. s

this is bloomberg. haidi: still ahead, prime minister scott morrison abandons any attempt to set a vaccine target for straley's rollout and he concedes not every australian will get their first shot by the end of the. we have the details ahead. coming up next, jerome powell says u.s. economy is poised for stronger growth ahead. our guest will tell us how he is playing this rebound. this is bloomberg. ♪ ♪ >> actual progress. we are not looking at forecasts for this purpose, we are looking at actual progress towards our goal. >> it not projected progress. >> we have to see it. we don't have to expected. we had to see it. >> there is no textbook for this. you don't want to be too preemptive. i also don't want to be so reactive that we are late. >> we are data dependent. that is what we are looking for, to see it in the data. >> hard numbers on the labor market and on prices. >> we got a taste of what progress will look like from the march report, close to one million jobs, particularly if you add in the re

bloomberg had been some -- that bloomberg had been reporting. anticipated departures are significant. the investment bank head and the chief risk officer are leaving. they are among more than a half-dozen executives, many tied to the banks risk management decision-making. they are to be replaced. credit suisse was far from the only bank that allowed the family office to take huge leverage positions that resulted in those large block trades. beginning one week ago on friday. the ceo says he has, in the bank will be learning serious lessons from that in a statement that was released, he turned the archegos as unacceptable. indeed, many analysts have been questioning the risk management and whether this raises the issue of a systemic problem. shery: this coming a time when investment banks of the doing really well because of market activity and dealmaking. how does credit suisse's loss because of archegos compared to rivals? >> you can see the credit suisse did indeed miss out on the rally that so many rivals enjoyed but it is also taking a loss th

this is bloomberg.> q1 had some of the most difficult supply chain challenges that we have experienced. difficulties with supply chains and the whole range of parts. and with the chip shortage, this is a huge problem. >> tesla report of the seventh consecutive quarter of profit. selling the model 3 sedan and returns on cryptocurrency investments. the company lappe -- left it's multi-outlook unchanged. >> tesla blew away earnings estimates. the company got better and more efficient at building its electric vehicles. the bottom line was helped by a record 518 regulatory credit sale as well as a income of sales from bitcoin. and trimmed its holdings by 10%. they also commented on the mobile semiconductor shortage saying that it had to shift during the first quarter but was able to work to bring the software in line. they have problems having to quarantine some of their best engineers in china. we have updates on gigafactory berlin and gigafactory austin. elon musk cautioned that a ramp-up from zero product

this is bloomberg. ♪ ritika: this is "bloomberg surveillance -- this is "bloomberg markets."ator jon ossoff joins david westin on "balance of power." this is bloomberg. ♪ let's check in on the bloomberg first word news now. i'm ritika gupta. today, congressional democrats will start considering biden's $2.2 trillion spending and tax proposal. it is up to house and senate leaders to determine how to package the proposal. his american jobs plan focuses on infrastructure and some social measures. the president is expected to ask for another massive investment in programs focused on health and families. iran has blamed israel for an attack on the power network at its largest uranium a richmond plant at a time when diplomats are trying to -- uranium enrichment plant at a time when the mets are trying to revive the deal that contained iran's nuclear program -- a time when diplomats are trying to revive the deal that contained iran's nuclear program. israel denies response of the the attack. -- denies response ability for the attack. global news 24 hours a day, on air and on bloombe

this is bloomberg. ♪ matt: this is bloomberg markets. i am matt miller.ditional sports came to a halt in 2020. the e-sports industry saw explosive growth. fast forward to now. one of the leading e-sports companies, veloce, launching a funding round to continue expansion ahead of its public offering and expanding into physical sports. ceo rupert spence and -- ceo rupert svendsen-cook joins from london to talk about this. let's talk first about the physical foray. tell us about extreme e-sports. rupert: extreme e is a brand-new electric racing series. we had our first race three weeks ago in saudi arabia. they race in parts of the planet affected by climate change to raise awareness of it. we have a legacy project. the idea is to raise awareness and a call to action, really, through sports. matt: rupert, funding these efforts is a billionaire's game. it is not cheap. how are you getting the funding to build the cars, to get the drivers, to ship them from event to event? rupert: it is true. motorsport is expensive, especially a new one, but launching such a

this is bloomberg. ♪ ♪ matt: welcome back to bloomberg markets. the european open. 38 minutes away from cash equity trading. the ftse is doing well in terms of futures. futures on the continent not doing much. one of the questions we've had over the last week, is london really still the place to be in terms of trading? henrik johnsson. the delivery of ipo was not a good luck. is that a london versus europe or new york issue? is not a risk sentiment issue? was that just an industry problem that investors are voicing? henrik: i think it was a combination of a lot of different things. esg being one of them. i will pick up on that. it's an interesting topic, what is happening everywhere around that. people are trying to make it a nationalism story. london versus european listing venues versus new york. i think that's the least important thing. the reality is that investors are very flexible and able to invest irrespective of the listing place, for the most part. i think it's an unfortunate kind of pricing failure with some downside risk for the people

this is bloomberg. ♪ ritika: this is "bloomberg markets."up, alliancebernstein's senior vice president. that is at 3:00 p.m. in new york, 8:00 p.m. in london. this is bloomberg. ♪ guy: a fantastic event running is bloomberg. it's take you to it now, the bloomberg green summit. erik schatzker is with larry fink, blackrock chairman and ceo. they are talking about the investment case for climate action. larry: change is disruptive, so we need to be careful in how we design this. this has to be done through enormous long-term planning for society to do this effectively and well. i look at this like i look at the pandemic. i want to just use a reference. i do believe the pandemic is a good metaphor for what is going on in sustainability. the pandemic was an existential risk. it showed how fragile society is. when you step back and ask how society navigated over the last 12 month and segments of society have done very well, and segments of society have done very poorly, if you take that same type of metaphor for sustainability, the earth's health

a bloomberg's group reveals the u.s.he designation for china as the biden administration reverses trump error policies. first alibaba and now ant,

this is bloomberg. annmarie: just ahead, prime minister draghi had a few days to find what he calls a historic plan to rescue italy's economy from the pandemic. this is bloomberg. ♪ >> we have too much pressure on public companies, and we do not ask the rest of the society moving on. we will put public companies at a disadvantage, and we will not get to net zero. the only would be that is getting all of society behind it, not just the thousands of public companies. annmarie: blackrock chairman and ceo larry fink speaking at the summit with key voices on climate change. it includes mark carney. do not miss our coverage on what is happening in terms of climate. prime minister mario draghi has a few days to find what he calls a historic plan to rescue italy's economy from the pandemic. the government prepares to invest 261 billion euros heavily backed by european funds. what is in the plan, and will it be enough for italy? maria: yes, we are looking at a major cash injection into the italian economy, more

this is bloomberg. haslinda: still ahead on "bloomberg markets: asia." china imports and exports and focus. joining us is that china markets economist. rishaad: and a forceful overalls -- overhaul, how jack ma's ant group will revamp its business based on china's demand. this is bloomberg. ♪ ♪ rishaad: jack ma's ant group will drastically revamp its business given demands from china. both ant and regulars confirming these changes, what we know thus far? >> executives from ant financial and ant group had meetings with regular to from pboc and the banking regulator and it confirms bloomberg's report. it will be put into a financial holding company, treated and regulated more like a bank. regulator said that ant group had to put in place significant changes, in terms of and including, reducing the consumer loans business and putting caps and restrictions there, also its massive money market fund as well. they have to reduce the value of the uae bound money market fund and make sure they have proper protect

this is bloomberg. shery: we discussed nomura's results later this hour but up next, we will have more on direction with the global strategist, the president, kumar. this is bloomberg. ♪ shery: the federal reserve is expected to hold -- some are warning it is making mistakes. kathleen hays is here with more so what is the argument for the fed to switch gears and at least start to think about thinking about tapering? kathleen: let's start with the consumer confidence report. a lot of people are saying the economy is going to boom, massive stimulus on top of extraordinary monetary stimulus. what do you expect now? consumer confidence in the united states surged in march much stronger than expected, up nearly 13 points in the latest month to one to 1.7. -- 121.7. it's mostly driven by the overall index. people's vision of present conditions, they see better labor market conditions as well. bloomberg economics says it's a sign that the u.s. economy is set to roar, driven by a roaring consumer who has been d

this is bloomberg. haidi. haidi: still ahead, we will be speaking to the australian payments player. the coo with his outlook. lewis lau and why he sees a more compelling buying opportunity in china later this year. he is with us my next. this is bloomberg. ♪ shery: the rotation into value continues. our next guest says they still have more room to run. joining us now to discuss is portfolio manager lewis lau. always great having you with us. we are seeing this rotation but at the same time, a little bit of stalling. this gdp chart on the bloomberg shows how that rotation from growth to value has sold in asia. when it comes to developed markets, we are also seeing that completely reversing in the last two weeks in the top panel. where do you still see the opportunities? >> you are in for maybe a little bit of a brief reprieve in the rotation but if you look at inflation, it is still headed higher, both in developed markets and emerging-market. vaccinations, economic reopening scum i think it's highly li

this is "bloomberg markets." alix: for now, the markets are completely quiet. you wonder if we are coiled for some kind of change if we do get a surprise from the fed or if something drops at president biden's speech. the nested 100 as up 0.2%. you had google on the one hand doing quite well versus microsoft. the billions of dollars they've made weren't quite good enough for the market. for the last two days, we have seen a yield creep. vesely we are ticking a break from that as we had into powell later on. we are pretty much flat on the bluebird dollar index. we had the trade deficit widened to over $90 billion -- to over $900 billion as you had a lot of imports coming in, as u.s. exceptionalism recovers much faster than the rest of the world, and crude up by over 1% despite any opec headlines. they are going to steadily increase production. but it doesn't feel like any of the main narratives are really leading the market at this moment. guy: i feel a gay wave is about crash over us. earnings are definitely not

this is bloomberg. ♪ is is bloomberg. ♪ ♪ alix: live from new york, i'm alix steel.is the european close on "bloomberg markets." officials close to angela merkel are worried that her conservative block is at risk of losing the german chancellor rate -- german chancellory after the sister party back another candidate. why is this party split so significant? reporter: this party split is between the christian democrats and the bavarian sister party. there are two candidates, one from the bigger christian democrat party, but he has the problem of not being very popular among the german population, it seems. and the bavarian sister party has a very popular politician as its head. the older germans feel this is some kind of deja vu because we have been here before. both times, a less popular cdu politician stepped back and let the bavarian go first. both times the bavarian lost, and the person that followed governed for 16 years. alix: why is this happening? where they just not prepared because angela merkel has been in charge for so long, or did what happened with lockdo

let's get a bloomberg/. -- bloomberg business flash.ns after the weakness of luscious lockdowns, but sales only increased 15%. deutsche bank has seen its best quarter in years since raising its sector. they also dodged losses from the collapse of capital management. send 10 there has a boost on its bridge to the bank. they sought their profit jumped. send 10 there is shutting thousands of jobs and shutting a fit of its branches. that is the bloomberg business flash. anna: thank you. coming up, wall street's return to the office. the first executive to bring their employees back in the building. we will discuss that next. this is bloomberg. ♪ >> i have seen no -- how competing power has been growing very rapidly. batteries and energy storage has been growing in a very slow rate. takes about 20 years to double. anna: that was quantum state ceo. the company turning heads with its claim to build a next-generation battery which could increase the range of electric vehicles by as much as 50%. you could read more about this farm. now to start

this is bloomberg. ♪ matt: welcome back to bloomberg markets, this is the european open., an all-time high on the stoxx 600 after the european benchmark index erased its pandemic losses. let's get the bloomberg business flash. laura: credit suisse is taking $4.7 billion right down tied to the implosion of archegos. two top executives will go after a series of scandals raised questions about the risk management. the shakeup comes as credit suisse has a pretax loss of around 900 million francs the first quarter and cut its dividends. air france kale, will receive 4 billion euros as part of a recapitalization plan for the indebted carrier. it will get up to one billion euros of fresh capital as part of a shareholder subscription, and convert a french loan into a hybrid instrument. the french government could become the company's biggest shareholder, raising its stake to 30%. we will speak to ceo ben smith later this morning. bp expects to reach its net debt target during the first target of this year -- first quarter of this year. bp says the achievement is earlier than anti

this is bloomberg. ♪ pres.iden: this can be a giant step forward in the march towards justice in america. let's also be clear that such a verdict is much too rare. guy: president biden speaking yesterday after former minneapolis police officer derek chauvin was convicted of killing george floyd. going us now is bloomberg reporter emily wilkins. we are hoping there is progress, but i am wondering about this police reform bill. what kind of progress are we going to see there, particularly in the senate? emily: at this point, it doesn't seem like we are going to be seeing a lot of progress. remember, you need 10 republicans to join with democrats to get this bill through the senate, and at this point there doesn't seem to be a lot of republican support. you do have a republican and a democrat working together on this bill. senator tim scott and senator cory booker. but at this point, there hasn't been any breakthrough that is going to allow this to go through. just to recap, this is a really broad ranging police r

this is bloomberg. ♪ matt: this is "bloomberg markets."e u.s., 180 7 million doses of the covid-19 vaccine has been administered and 90% of the adult u.s. population will be eligible for the shop by next week. what does this mean for companies trying to bring employees back to the office? joining us to discuss is the ceo of one of the largest players in commercial real estate, christian ulbrich joins us. he runs jll out of frankfurt. you are in germany. we will get to that. but the u.s. is well on its way to a recovery. do not think that is overstating it. what are you hearing from clients in terms of bringing workers back? christian: i think everybody is looking forward to bringing their people back to the office. and the vaccinations are key for that, because employees have to feel safe and well to get back to the office, so this is connected to the vaccines and getting back to the office. matt: what kind of demand do you see for growth after this pandemic comes to somewhat of an end? for a long time, there was speculation that working f

from bloomberg economics.here are basic facts. the economy was crippled early last year because of the pandemic. you have to bear that in mind. but bloomberg economics would stress that in terms of the production side of the economy, that is now looking solid across different metrics. it is the demand side, particularly consumption, that means in question and remains a lag on this economy. will that come through? we are looking potentially at retail sales year on year in march at 28%, and industrial reduction 18%, fixed asset, 26%. these are the numbers that we expect around 10:00 a.m. local time, but it will round out the picture for local policymakers here and give more direction on how far they can go when it comes to dealing with dental risk. haidi: how are we seeing the rest of the market process this lack of clarity and certainty around huarong, while looking ahead to gdp as well? david: the recovery is front and center when it comes to sentiment. we will talk about that in a second, but when you talk ab

simulcast bloomberg radio, bloomberg television. mr. ferro off-again today. beijing, we have stephen roach as tensions between america and china. lisa: tension between the china of old and china of new and the dueling narrative about the u.s. versus china and china versus china as they try to make a more sustainable recovery. tom: it is a great bull market and across the foreign exchange. we will get to the data in a moment. record highs yesterday in the equity markets. lisa: people trying to price in the optimism. today, you cannot make much of one day of ice action, but to me, it is chasing growth -- you cannot make much of one day is price action. growth is in europe. perhaps they might get to herd immunity sooner. the idea that people are trying to price in hope more than reality because we cannot see the reality yet and the hope of the future is so different. tom: the day-to-day news flows. you can go to the bloomberg turnbull and see the date when earnings come out here with jp morgan on the 14th of this month. on fed day, april 28, that is when we say

bloomberg, the founder of bloomberg lp and bloomberg philanthropy's.ing up, the global economy is on track for its fastest growth in more than half a century. economists are warning of a dangerous divergence between some regions. that story is coming up next. in the markets, we are looking at a record high on the s&p 500. the index is up 1.4%. your outperformance is coming from large cap technology. the nasdaq 100 up by 1.6%, as we see yields not doing a lot. you did get the five basis point move on friday on the blowout march payrolls number in the u.s. we are basically unchanged. 1.71% is where we sit on the u.s. 10 year. the real dramatic action is in the commodity complex. wti crude at this point, down 5.4%. we are sitting at $58 a barrel. more supply coming onto the market. demand concerns are still present. we will have much more next. this is bloomberg. ♪ karina: janet is calling for a global minimum corporate tax rate. janet yellen's comments are part of the bigger push by the biden administration trade levies on u.s. companies to help pay for

this is bloomberg. ♪ >> this is bloomberg markets, the european close.especially dish of opening week with the bank of america chairman and ceo at 5:00 p.m. in new york, at :00 p.m. in london. this is bloomberg. >> let's check in on the bloomberg first word news. the font -- the biden administrations that hit -- has hit russia with sanctions. 10 diplomats are being expelled from the u.s. and there will be new restrictions on buying russian debt. the russians behind a massive pack of federal agencies and interference in the u.s. presidential election. weekly claims for unemployment benefits fell in the u.s.. it is a sign layoffs may be easing as the economy starts to recover. chinese automaker will use its electric car unit to take on tech giants who also want to enter the booming electric vehicle market. >> it is exactly created for this. it was split off in order to become a brand-new company. it's culture is no different from any other tech or internet firm. >> they will start delivering its electric car in september. global news 24 hours a day on air

this is bloomberg. ♪ >> this is daybreak asia come on vonnie quinn with the first word headlines. growth forecast was updated for the second time in three months, worrying about widening inequality and lesser developed economies. the global economy is expected to expand 6% this year, up from the pay estimated in january. that would be the most in four decades, it comes after a contraction last year of 3.3%. india's economy is projected to grow at historically high-level of 12 and a half percent this fiscal year. but, the imf is warning that the current rate of covid cases is concerning. india had a record number of infections on sunday, it's wealthy estate has halted all nonessential services and ordered private companies to work from home. amazon's jeff bezos says that he supports resident buy-in proposal of tax hikes to help pay for the infrastructure bill. however, basil stop short of fully endorsing the president's proposal. amazon traditionally avoids political issues not directly tied to its busin

this is "bloomberg surveillance ," live on bloomberg tv and radio.eene and lisa abramowicz, i'm jonathan ferro. equity futures slightly positive. we had towards a week of losses d

this is "bloomberg surveillance ," live on bloomberg tv and radio.longside tom keene and lisa abramowicz, i'm jonathan ferro. goldman sachs down by about 0.8%. jp morgan, rather, down 0.8% after crushing it on the investment bank side of things. this is from our colleague on our live blog on the bloomberg terminal. there's rarely been such a big gap between a bank's capacity to lend and its actual lending. tom: you nailed it. a low demand headline as well. again, traditional banking is a separate business from the nuances of goldman sachs or the juggernaut that is fortress dimon. nowhere in the statement do i sue a comment -- do i see a comment on spac's, coinbase, bitcoin, or the rest of it. this is a traditional statement from a very traditional bank. jonathan: expect the call on archegos later this morning. lisa: that goes to the capacity to lend, their cash, their reserves. their incredible fortress is available, but who wants it? why borrow money if you can just use the money in your savings account? incredible dealmaking which we saw from jp mo

this is bloomberg. shery: coming up, we look ahead to president biden's landmark climate summit and discuss where the world's superpower stands. and later this hour, a $7 billion rescue package to stop soccer clubs from breaking way. we will talk about competing visions for the world's most popular sports and how much they are financed -- and how they are financed. this is bloomberg. ♪ haidi: weakness in the tech sector have pulled stocks to an all-time high. joining us is the chief u.s. market strategist at morningstar. great to have you with us. we have seen earnings fight perfection in recent rounds but the s&p 500 is already above year end estimates come up so where do we go from here? david: we are pretty much in the same boat but we think the market is overextended. u.s. equities are probably about 5% overvalued. having said that, we see value in a couple of different areas. the value category being one of those areas investors should look to overweight. looking at some of the large-cap stocks, th

this is bloomberg. ♪ ♪ ritika: this is "bloomberg markets., jim -- this is "bloomberg markets." coming up,s global vice president. this is bloomberg. ♪ let's check in on the bloomberg first word news. the biden adminstration will try to organize overwhelming public support for that $2.2 trillion in researcher plan. the goal is to line up re-publican voters, independents, mayors, governors. the u.s. is moving ahead with plans to retaliate against six countries that text internet-based companies -- that taxed internet-based companies such as amazon and facebook. among the goods targeted are austrian pianos, british merry-go-round's and italian anchovies. the cardinals won their first national championship since 1992. tonight it is guns like -- it is gonzaga vs. baylor for the men's title. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. alix: vaccinations worldwide still increasing, yet cases continue to rise. bloomb

this is bloomberg. ♪ >> this is bloomberg markets. that may be a combination of factors.ck this terminal inside your bloomberg terminal that gives you a sense of the volatility of bitcoin over the long-term. you can read this chart any number of ways. to me, this says something changed in the last year. did it change because of a fundamental region, or judgment as of investor interest? >> absolutely. if you zoomed in on last year you see a series of job drops. you look at it from an irish perspective, which you zoomed out, ucf encounters rashes, fishing and start need to believe that it's normal behavior of this cryptocurrency so be interesting to see where he goes from there. -- to see where it goes from here. >> in terms of what you are seeing in its point in the pullback we are seeing, is it a healthy go back buying opportunity? >> spectacular to someone who's not accustomed to the crypto markets. it feels like a big deal. the biggest weekly drop in two months. we are at the lowest since march. the people who are question to trading crypto, their uses is the ups and do

this is bloomberg. shery: we will speak to the lyft cofounder on their plans to sell their side try -- self-driving unit two toyota. why wall street is disappointed in tesla despite their estimates. this is bloomberg. ♪ paul: tesla's following ahead of trade despite beating profit expectations. it is the second -- seventh consecutive quarter of profit with strong demand of its model three sedan. it's looking to expand operations on three continents. still, a reporter who covers tesla -- what are the big takeaways from this result? >> shares are down in after hours trading because there is not big news. investors were expecting a profit. there was not new catalyst they were announcing. they did not talk about guidance for the year. you're seeing a selloff because there just was not -- it was good news, but not a blockbuster. the big news from the earning call was what they set about the most recent crash in texas. they were adamant's that, as far as i can tell, there was a driver in the front seat which

this is bloomberg. ♪ let's check in on the bloomberg first word news. the u.s. will consider a major new second amendment dispute. justices will use in your case to decide whether the government can allow people to carry a pistol in public for self-defense. people say new york is defying their constitutional rights by issuing caring license to those who can show need for protection. in india coronavirus cases hit a record high for the fifth day in a row. the government reported 352 new thousand new cases. overcrowded hospitals are turning white patients because they are running out of oxygen. in russia, prosecutors have issued a preliminary order suspending the operation of opposition leader alexei navalny's campaign offices. they say the electing navalny group are extremists. last week he ended a more than 24 day hunger strike. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am ritika gupta. this is bloomberg. guy: thank you very much, indeed. shares of tesla gaining g

this is bloomberg. let's check in on the bloomberg first word news.opean union probably will not renew its coronavirus vaccine contracts with astrazeneca and johnson & johnson. that is according to france's industry minister. both vaccines have been late career blood clots. the eu has already started talks about contracts with biontech, pfizer, and madonna. in a honk -- and moderna. in hong kong, -- was convicted of attending two unauthorized protest. authorities have been pursuing cases against hong kong's most high-profile dissidents. china criticize the u.s. record on global warming today. climate envoy john kerry was in shanghai seeking greater cooperation on the issue. china said the u.s. was responsible for the world not setting targets set by the paris agreement in 2015. president biden is trying to establish the u.s. as a leader on global climate action. it will be all about china today when president biden meets with japan's prime minister. this will be the president's first in-person meeting with a foreign leader since taking office. china s

this is ♪ ♪ bloomberg. -- this is bloomberg. ♪ ♪ vonnie: you're watching deborah kostroun you.ansport secretary says he holds regular talks with his u.s. counterpart. he says the case for travel between the two highly vax it in countries. the ban imposed by former president trump would need to be loosened. numbers were down 99% this month compared to two years ago. u.k. aims to resume nonessential international travel in may. term and lawmakers have approved angela merkel's controversial lockdown law. officials are struggling to contain a fresh wave of coronavirus infections that is putting pressure on hospitals. it will give federal officials the authority to impose tighter restrictions and virus hotspots including nighttime curfews and closing schools and nonessential stores. the united arab emirates is considering restrictions on people who have not yet been vaccinated despite being eligible. this is sparking widespread criticism. both the daughter of dubai's ruler and uae prime minister say imposing the move would mean robbing people of their rights. the uae is one of the w

this is bloomberg. ♪ ritika: this is "bloomberg markets."the next hour, easyjet ceo johan lundgren. this is bloomberg. ♪ let's check in on the bloomberg first word news. i'm ritika gupta. day two of deliberations in the minneapolis murder trial that sparked nationwide debate over police use of force. a jury is deciding the fate of derek chauvin, the white former police officer accused of killing george floyd during an arrest. prosecutors say he violated department policy. his defender says the video does not tell the whole story. in germany, armin laschet has won the battle to lead angela merkel's conservative bloc in december's election. laschet is the chairman of the c du. he would likely continue merkel's moderate policies if he wins. authorities in tokyo have been urging a state of emergency just three months before the start of the summer olympics. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. >> you're wa

this is bloomberg. ♪ matt: welcome back to "bloomberg markets: european open."es from the start of cash equity trading. futures are pointing higher across the continent and in the u.k. the eu failed to form a united response to the links between astrazeneca's shot and a rare type of blood clot that has been turning up. ministers shared different interpretations of a safety report indicating what may be deep divisions on the way forward. british authorities said the vaccine's benefits outweigh the risks, but advised those under 30 be offered an alternate vaccine. joining us is rhea taddeo. yet another -- maria tadeo. in another country for younger age groups, we have seen that on the continent. how will this affect the rollout? maria: this is a double whammy. in the united kingdom, this is the first time the idea of restricting access comes about. we need to be very clear that astrazeneca has been successful for the united kingdom. the u.k. vaccination plan has been fast and efficient, but you have a warning from its own regulators saying if you have an option to

haidi: bloomberg tax -- shery: bloomberg technology anchor emily chang.ur next guest and portfolio manager, joanne. great to have you with us. we have continued to see this tech rally, valuations, and gtv charts on the bloomberg showing how those estimates for tech stocks continue to rock in higher, still outpacing the s&p 500. with interest rates likely to rise over the next year or so, what can we make of the valuations right now? >> i think what you make of them is a cautionary tale. one has to be very careful at this point because some of the valuations have been -- some of the stocks are well and really embodying the growth that is to come. this is one of the reasons why we like to invest in individual stocks for our clients, so we can go out and be selective, and own things for a long time. today's aftermarket action, that tells you more about what the institutional investor expectations were as opposed to consensus numbers but it also tells you in response to earnings, things can be volatile. that is why we have earned things for many years, and we

this is "bloomberg surveillance ," live on bloomberg tv and radio.longside tom keene and lisa abramowicz, i'm jonathan ferro. later this week, we will see the data behind the boom. tom: an incredibly important moment for a guy who is usually really cautious and reticent. if we are like david kotok, it is loaded the boat monday. -- it is a load the boat monday. jonathan: a huge rip off the gains behind the vaccination news and the headlines we have seen over the last six months. it gets better and better. retail sales in america thursday, i mentioned bank of america earlier this morning, looking for 11.5%. then we actually start to see the numbers, two point 5%. many expect year on year for a cpi figure later this morning. tom: there's a study within the core academics, but one of the data points this morning, 41.1 two on spx futures. -- 41 12 on spx -- 4112 on spx futures. jonathan: here yar in the first quarter, it fears like -- it feels like year-end already. tom: the red sox are in first place. that is going to end at some point. jonathan: unfortu

bloomberg lp the parent company of bloomberg news has invested in it.g kong is reportedly planning a new transit card that works in more than 300 cities in mainland china. the cars will work for buses, taxis, rail transit and fairies by the end of the year or early 2020. (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me, it works 100%. (announcer) think it'll break on you? think again! even a jeep can't burst it. give the aerotrainer a shot. pain and

this is bloomberg. paul: still to come, a big interview and about an hour -- in about an hour with the fortescue metals chairman. next, the market outlook from advisors. what to expect ahead of a very busy week on the earnings and eco-front. this is bloomberg. ♪ shery: shaping up to be a big week for tech earnings, let's talk about the future of rotation trades with our guest. great to have you with us. this chart on the bloomberg already showing outflows on it comes to the 222 etf tracking, the five-day outflows the biggest since 2000 ahead of big earnings. what is happening? ben: thank you for having us back. i think people are anticipating that we do have a cyclical recovery ongoing. the need for big tech companies has lessened, or at least people have the perception we could have an economy that is more open and more driven by services other than technology. that may be one reason in addition to a knee-jerk response to the capital gains news last week. on the other hand, if you look at these tech co

on bloomberg radio and tv through the next couple hours, on "bloomberg surveillance," the focus, cpiamerica. the print is two hours away. this is bloomberg. ♪ matt: for our audience -- jon: for our audience worldwide, this is "bloomberg surveillance." s&p 500 futures, positive. the nasdaq had a bit of a rough time over the last couple days. down around 13 points, no drama. russell outperforming by little more than .1% after peaking in the middle of march. we pulled back by five percentage points since then, which into the bond market, that cyclical effort has stalled. 1.7 year -- 1.74 is where we peaked. right now, yields are up by a couple basis points. i think we get $24 billion of 30 year debt later as lisa indicated earlier in the program. a big conversation about inflation. what has happened to gold this year? inflation, inflation, cpi higher, higher, supply chain bottlenecks. gold on the year, down nine percentage points. bitcoin, record high, up 116% year to date. bank of america came out with their surveys this morning and asked participants about the survey if the equity mar

this is bloomberg. shery: still ahead, developed countries are rolling up vaccines more than two thousand times faster than the emerging markets. we will discuss the market impact. plus, consumption and focus when china reports first quarter gdp data this week. this is bloomberg. ♪ shery: i china data glitch will be the highlight of the past week ahead in asia. china's fourth-quarter gdp will probably show the fact -- of the fastest growth on record. trade figures are likely to show exports continuing to move. key data coming out of india. for more, we are joined by sean, our senior asian economist. always great having you with us. we are expecting the fastest growth on record but, at the same time, we have seen significant pressure for the economy. the charts of the bloomberg showing how consumption dropped for the fourth time in four decades last year. how much progress are we expecting to see in this quarter? >> we look at the consumption figures, we will probably get a strong year. but, we saw under

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this is bloomberg. ♪ haidi: you are watching "bloomberg daybreak: asia."st lenders to rein in credit supply on concerns up surge in loans is feeling asset bubbles. the financial times reported banks were told to keep new loans in the first quarter at last year's levels are lower. chinese authorities pared back liquidity injections and sound an alarm over financial risks. Élan musk bet on growth in china and europe is starting to be offered tesla, the carmaker beat expectations in the first quarter, delivering 4000 cars more than in the fourth quarter. the company also said the model as annexed were exceptionally well received in china. 'tesla's orderly delivery figure is seen as a barometer for its vehicles and ev's at large. tesla sales in japan and korea are down today. delta airlines canceled 100 flights to do staff shortages over the weekend forcing the carrier to open middle seat sunday and monday, a month earlier than planned. the move was aimed at increasing passenger capacity to accommodate flyers affected by cancellations. delta says it flew one m

this is bloomberg. haidi: indonesian president has slammed richer nations for vaccine nationalism, saying the pandemic will not end unless all countries have access to the shots. indonesia has had to slow down the inoculation drive due to receiving fewer acts -- fewer supplies than expected. speaking to arco anger, the president, also said there was no need to reach 7% economic growth this year. >> to simplot -- it depends on vaccine supply. if vaccine supply is in line with the schedule we made, the vaccination will be completed at the end of the year. due to supply, we have only vaccinated 4000 people at the end of march. if the vaccine arrive starting at 70 million doses per month, we will be able to inoculate one million doses per day. >>>> when will you get your -- where will you get your vaccines from? even india is holding onto it supply of astrazeneca. >> that is where the problem lies. . there are several delayed commitments. . but still committed at a great volume. this is why i'm asking world

this is bloomberg. ♪ s bloomberg. ♪ haslinda: the u.s.ith increasing urgency on bipartisan legislation to confront china with the senate poised to act within weeks on a package of bills. the measures take aim at beijing on several fronts and seek to boost u.s. competitiveness in technology and manufacturing. let's bring in our coanchor tom mackenzie. it has been called a big bipartisan initiative. tom: and it is a reminder that it is one of the few topics that aligns both the democrats and republicans. this is a bipartisan effort. there are a number of different bills working their way through congress in the u.s., so i will get you up to speed on where we stand. there is some legislation that has already been passed into law. john cornyn, a republican, has pushed through legislation called the chips for america legislation act. that is now law, but is unfunded and is pushing to get $50 billion worth of funding for that to secure supply chains around semiconductors. you have the senate foreign relations committee passing the strategic com

this is bloomberg. juliette: still ahead, coinbase hit a $100 billion valuation on its debut before falling back. investors and the fed taking notice. we will discuss that next with richard byworth. rishaad: also looking at earnings due later on and consider the impact of the chip crunch. this is bloomberg. ♪ s is bloomberg. ♪ rishaad: we are looking at taiwan semiconductor manufacturing out with numbers a bit later. a strong first-quarter set of earnings. amid this global chip crunch. shares hit a record earlier this year after surging 60% in 2020. our next guest expects earnings to reach the top end of guidance. joining us is kirk yang. kirk, give uis a -- us a sense of what you are looking for when they come out with numbers. to say they are strong, would that be perhaps underplaying it? kirk: good morning. i am sorry, i am having some difficulty hearing your question. rishaad: kirk, i don't think you heard me properly. give us a sense of what you are looking for when these numbers come out. kirk: so

this is bloomberg. paul: at last week's global conference, president biden put tackling climate change at the center of policy and our next guest is ahead of that shift. he spent 2020 visiting 47 countries on the hunt for renewable energy products for fortescue future industries. part of the solution is green hydrogen. haslinda amin is standing by with australia's richest man. haslinda: someone that we know well, andrew forrest, fortescue metals group chairman joins us. good to have you with us. crisscrossing 47 countries, in times of covid is huge, what is the plan, really? >> the plan was, to get in front of the curve. we knew the world had to, not that it wanted to, but it had to go grain. -- green. and that the process must start, so to kick it into gear we went to all of the sites across our planet, where renewable energy can be generated, and huge scale. had to use that renewable energy to create green hydrogen electricity to start pushing the world and government policymakers to go green. we can