this is bloomberg. ♪ >> welcome to bloomberg markets.ay at this hour. here are the top stories we are following from around the world. netflix seeing its worst stock decline in three months after a slow start to the year. we break down the company's earning and outlook in today's stock of the hour. also, credentials sell full-service retirement business to canada's lifo for $3.5 billion. we talk with their ceo, paul mahon. we are also discussing the challenges he faces during the recovery of hospitality workers. amber: let's get you caught up on the market action. monday is firmly in the rearview mirror with most of the industries making back almost all of the losses. the s&p 500 now less than 1% away from an all-time high. it is a close cyclical event. that depends on growth continuing at the delta variant fading into the background, energy stocks, financial, material and industrial all leading the way higher on the s&p 500. matt: we do see some movement again today to the risk side in these markets and be continue to see yields bounce

we welcome our bloomberg and bnn bloomberg audiences.the top stories we are following from around the world. we will discuss the economy with positive boss and church -- kathy bostjancic. pepsi sales jumping the most in a decade. we will discuss the surge in sales as the economy returns to normal. and we will hear from the bp ceo on the company's plans for a cleaner future. amanda: we are watching stocks, perhaps reacting to the bond market. we had seen equities led by tech in positive territory across the board. that was the subgroup of the s&p 500 leading the way higher. you can see a turn to the negative in the nasdaq. financials were weak on the day today. the culprit perhaps a tepid demand to the 30-your auction today. we are seeing a bit of movement at the front of the curve. there is your 30-year. we are seeing the same on the 10-year. while investors try to read the tea leaves on the cpi data, what that says about the transitory inflation, perhaps the bond market is weighing in. that cpi above expectations, both on the core and h

this is bloomberg. dani: welcome back to "bloomberg daybreak: europe." i'm dani burger in london where just gone past 6:15 a.m. bloomberg has learned the ecb policymakers have agreed to raise their inflation goal to 2%. also, a lot of room to overshoot. changes part of the biggest strategic overhaul since 2003 and could also give officials justification for sustaining altar loose monetary policy for longer as the economy recovers from the pandemic. for a while, the ecb had been pretty isolated and looking for something less than 2% and it comes to inflation. but in your mind has now changed if they are going to target 2% and allow inflation to move higher at some point from their? anna: a very specific inflation target, and clearly what this has done is anchored the expectations at very low levels. the target has not been achieved in the same period of time for a while. of course there are fears that low inflation expectations can change following the japanese example. so they decided to revise the target. we believe it's not going to be like the fed cas

we welcome our bloomberg and bnn bloomberg audiences.tting some breaking news the terminal. president biden plan to nominate jonathan kanter as part of the justice department's antitrust division, according to a person familiar. the news is not public yet -- i guess we are making it public. the latest sign the administration is preparing a broad crackdown on large technology companies. kanter left one of the biggest law firms in the country last year to start his own firm, and is a long time foe of google. kanter representing companies that have pushed antitrust enforcers to sue the search giant. this is a sign that big tech faces a big headache in terms of the department of the department of justice and antitrust division. amber: it will be interesting to see how these big tech companies respond to that. will google follow the same path as amazon and facebook have with the ftc chair lena con saying that she should be recused from these cases, and specific because of her past involvement and actions against those companies. to your point

we welcome our bloomberg and bnn bloomberg audiences.the top stories we are following for you from around the world. stocks slump around the globe and the u.s. 10 year yield drops to the lowest level since february. we will have the latest on the risk off moves as investors start to doubt the economic recovery. the covid variant is helping to cause concerns. we will discuss the soaring number of cases and how vaccine hesitancy is affecting those numbers. and up, up and away. jeff bezos is the next billing there headed to space. margaret weitekamp of these facility and national air and space museum joins us to talk about the historic trip. amber: let's get you caught up on some of the markets, especially as we are seeing some pretty steep selloffs, particularly in equities. the dow looking to put in its worst single day showing since october of last year. every single one of the dow components is trading down. you are seeing a corresponding rally in the bond market with yields now trading at the lowest levels since february, making a roun

bloomberg. this idea that lumber had given up its year to date gains, when a couple of months ago we were talking about extraordinary gains in lumber, and one of the best signs of the inflation wave that would be terrible for the world economy. suddenly now, lumber has given up their gains. that means the inflation threat has gone away? no, it does not. the threat from lumber prices has gone away, but that was a small component of the inflation threat. it was a great anecdotal story and an extreme move. that will likely play on other commodities as supply reacts to prices, more supply comes on and prices come back down. it is a self-correcting mechanism in many commodity markets. lumber can be quick to react. lumber prices are still up 45% from where they were a year ago. 45% is quite crazy inflation still. while we have given back the extraordinary gains, there is an inflationary wave coming. do not underestimate the size of this inflation wave. anna: the inflation wave is still present in lumb

bloomberg, founder of bloomberg lp and bloomberg philanthropies.s is bloomberg. ♪ matt: this is bloomberg markets. i'm matt miller. now to something that caught my eye. the price of nickel rising for a third straight session, approaching a seven-year high on booming demand for the metal used in stainless steel and electric vehicle batteries. you can see metal outperforming on the bloomberg commodity index. i also like to use the command to look at the entire commodities universe. you'll see any metals having to do with batteries have done very well as carmakers invest tens of billions of dollars into producing more electric vehicles. our next guest is shane smith, chief operating officer of microvast, which just made its debut on the nasdaq. thanks for joining us. let's talk about what you do at microvast. you make batteries. this is exciting because we are figuring out ways to put more power in smaller packages all the time, but you produce batteries mainly for commercial vehicles, like buses and taxis. shane: trains, mining trucks, specialty vehi

this is bloomberg. ♪ laura: this is "bloomberg markets."rry culp, chairman and ceo of ge. that is at 12:00 p.m. in new york, five a clock p.m. in london -- 5:00 p.m. in london. this is bloomberg. ♪ let's check in on the bloomberg furred word news. -- bloomberg first word news. i'm laura wright. on capitol hill, talks to come up with a bipartisan infrastructure bill have run into a number of obstacles. senators ended the day still trying to resolve differences over transit funding, water projects, and how much and spend covid money can be used to pay for infrastructure. lawmakers insist an agreement is still possible. the two koreas have improved prospects for a breakthrough in the stalemated nuclear talks. north korea's kim jong-un and south korea's moon jae-in have agreed in letters to restore relations. they released what appeared to be coordinated statements calling for reconciliation on the peninsula. that happened on the 68th anniversary of the armistice that halted the fighting in the korean war. a stunning develop into the summer oly

this is bloomberg. ♪ leigh-ann: this is "bloomberg markets."ooking at a live shot of the principal room. coming up on "bloomberg markets: the european close," mike jackson, autonation ceo. this is bloomberg. ♪ let's check in on the bloomberg first word news. i'm leigh-ann gerrans. for the first time, nato is calling out china for cyberattacks. the u.s., u.k., and theirllies have formally blamed the microsoft server exchange attack this year on packers associate it the chinese government -- on hackers associated with the chinese government. u.s. companies in hong kong 13 assurances china that it will prevent any erosion of the city's business environment after the biden adminstration issued a warning about operating there. the president told the american chamber of commerce -- the president of the american chamber of commerce in hong kong said that the free flow of information will indeed continue. 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 lei

this is bloomberg. sophie: asia energy editor aaron clark. must go back to this negotiation is about to take place on monday. we will be able to see a compromise? >> that is the big question. saudi arabia is insisting that opec must extend its production agreement to the next year, sticking to this plan and has hashed out with russia. this is raising the stakes in the standoff with the united arab emirates. the uae says it is in favor of adding oil to the market but says it rejects the plan proposed by saudi arabia and russia. its own production going significantly higher. without the extension of an agreement, there is a fallback deal in place under which the oil outlet doesn't increase in august. clearly, that would be very bullish for prices but we will have to wait and see. the group is scheduled to meet again later today to try to hash this out. haidi: what are the implications for the market? >> the uae is really forcing its allies into a difficult position. except the request for risk unraveling

to bloomberg. -- the saudi and uae not speaking to each other but speaking to bloomberg. the extension is something we do not need to discuss today. fast and furious, the oil market stoic this morning. dani: it is great to have you back. since one of the best barometers of how serious the situation is, not only on the first day you get back you do this cracking interview with the uae finance minister, but you were supposed to be enjoying the sunshine and you were keeping on top of the opec story. that tells you why the market is nervous, because it is nervous, isn't it, with the tight spreads? manus: it absolutely is. nobody thinks $100 oil is attainable, but he would not answer the question. we will hear from both ministers in a moment, at the heart of this. how do you break the impasse, what is the risk to the market and how do they get through this? this will be a fascinating day. nobody is talking at the moment about complete implosion of the opec-plus alliance. dani: right, that flag not being

this is bloomberg.hery: the u.s., u.k., and allies, formally tied the microsoft exchange hack to the chinese government. they accused beijing of a broad array of malicious cyber activities. pres. biden: they are still determining exactly what happened. the investigation is not finished. my understanding is, the chinese government, not unlike the russian government, is not doing this themselves, but they are protecting those who are doing it. and maybe even accommodating them, being able to do it. shery: let's bring in our cybersecurity reporter. how significant is this condemnation from the u.s. and abroad are alliance including the u.k. and austria? >> it is significant in that this is -- a broader alliance including the you ok -- a broader alliance including the u.k. and australia? >> it is significant in that it is asserts china has been harboring malicious cyber activity that have compromise public and private networks the world over including health care, any factures, state and local governments,

this is bloomberg. >> if you look in the second quarter, you will see volumes going up. you should look everywhere in europe as well. look at france. the volumes and payments are up. transactions are up. digital transactions are up. so all of this basically shows there is an overall way of handling true digital through the way of handling and the vaccination that we anticipate, and that rebound will crystallize. dani: bnp paribas' cfo there following the bank's second-quarter earnings. it is not just bnp that has had a more optimistic tone. it is really the majority of european bank earnings. they've had stronger revenue, dealmaking has looked good, investment banking has surprised to the upside of deutsche bank and barclays, so it is not just the u.s. taking all the market share. europe is doing really strong as well. in this picture right here is something that investors have gotten really optimistic about. this is the loan loss provisions. of course, during the pandemic, we saw this number go pretty

this is bloomberg. ♪ dani: welcome back to "bloomberg daybreak: europe." burger in london. turning to space and jeff bezos is only a few hours away from blasting into space on blue origin first manned rocket. ed ludlow has the story from the launch site from van, texas. ed: if all goes to plan, it will propel jeff bezos, mark bezos, and others up towards 62 miles above earth as they approach the cap soul to 66 miles above earth. it is not far enough to escape earth's gravitational pull so the capsule after a few minutes of weightlessness will start falling back down to earth using its own air resistance to slow itself down. there will be drive shoots fired and as it nears the earth, three large parachutes will deployed with a sudden burst of air just before the capsule hits the ground. as of monday evening, they completed their brief two day training. for blue origin, it is a substantial step forward in what has been slow progress. he acquired the land here in west texas for the blue origin site in 2005. it was not built until 2014. in that time what happe

this is bloomberg. ♪ ♪ dani: welcome back to bloomberg daybreak europe.iet mood. you have japan close. the cash trading in japanese equities, bond markets, and u.s. bond markets aren't necessarily trading. future volume in treasuries is down by 30%. here's what the rest of the market is doing on more tepid volumes. msci asia-pacific index down zero .5%. really dragging us lower here his hs tech. -- an unprecedented find from the chinese government. shares down more than 11% yesterday. you have a higher euro stoxx 50 future session and a little bit of a weaker euro-dollar. the ecb will look at asset purchases and autumn, speaking on french business radio. that might be driving action we are seeing in the euro. let's get over to the first word news with annable drillers. annabelle: twitter boosted its sales forecast for the current. second-quarter numbers went beyond estimates. it's now expecting revenues moving up to $1.3 billion as global events like the olympics drive up advertising. social media snap saw sales double in the second quarter, coming in ahe

this is bloomberg. ♪ ♪ anna: welcome back to "bloomberg markets: european open."uity market futures pointing increasingly to the downside for major markets. one of the things we have been dealing with yesterday in the u.s. and this morning in europe, inflation prints that comment above estimates. that is certainly a feature of this morning. we have the u.k. number. you have been thinking a lot about the reaction we saw to u.s. print yesterday. mark: yes. you might be able to guess that i am getting a little bit excited about this topic. i basically think that those who have dismissed the inflation threat have zero credibility now. for the past four months, whether it is cpi month on month, core cpi month on month, the headline year on year, the core year on year, it has pete consensus -- it has beat consensus estimates. we saw the highest month on month number since 2008. this is the last 10 years. it is a monster number. the red dotted line is the highest consensus forecast for any inflation print this year. and each of the last four months, we have beaten that.

this is bloomberg. ♪ rishaad: back with bloomberg markets.are looking at this acquisition by tencent. it is gotten the nod from chinese authorities. . yvonne: it is interesting i guess given the blows they have gotten from video gaming streaming. you have music as well. this will be something that is a -- is good news to tencent. this is what we are hearing from this deal. there will be a 50% stake. the privatization result and a delisting from the new york stock exchange according to earlier reports. there will be a potential delisting is well with all this. rishaad: some of the investment in tents. we have a story about that 40 minutes ago thereabouts. we are looking at the biden administration considering digital trade deal. it could include the let's of japan, australia, and singapore. it could counter influence from beijing. bruce, tell us about it? >> this is a deal that could potentially involve lots of countries in the asia pac. it would set out rules for the digital economy that could include things like use of data, traits, electron

this is bloomberg. ♪ ritika: this is "bloomberg markets."subadra rajappa, socgen head of real rates strategy. this is bloomberg. ♪ taylor: the biggest u.s. banks will be out with second-quarter results early next week. jp morgan, goldman sachs kicking off the season. joining us with what to watch, what to expect, betsy graseck, morgan stanley global head of banks and diversified finance research. it was jp morgan's daniel pinto that said trading is back, that the trading slump is gone for good. do you agree with that? betsy: it depends on what your frame of reference is. trading will be down on a year on year basis, and a large part because last year was a banner year, and we all know what happened with spread compressions driving the bus on unusually higher earnings. we do expect trading is going to be down roughly 30% year on year, and that is what we are looking for. i think it is the forward look over the next several years. that is a different question relative to what we are looking for this quarter. guy: huge moves in the bond market

we welcome our bloomberg and bnn bloomberg audiences.tories we are following from around the world. ecb president christine lagarde reveals the details of the central banks strategy being the ecb raising its inflation goal to 2% over the medium-term, giving officials more discretion in how to bolster the economy. the opec-plus stalemate continues. secure energy ceo rene amirault tells us how it is impacting the oil industry. some travel -- summer travel is in full swing. we will speak to the ceo of a service which helps people buy and own second luxury homes. how nice. amanda: so nice for those that can do it, maybe not with their stock earnings today. we are seeing a lackluster market across north america, off the lows of the session but with the same kind of catalysts, including those fresh lows on the yields. the 10-year at 1.29. the betting on inflation in north america seems to be made here, that there will not be any. earth, the big question is around inflation. the ecb says it is adjusting somewhat its own targeting on inflation i

this is bloomberg. ♪ ritika: this is "bloomberg markets.", the oklahoma employment security commission executive director. that is coming up on "balance of power" at noon in new york, 5:00 p.m. in london. this is bloomberg. ♪ let's check in on the blooper first word news. in cuba -- the bloomberg first word news. in cuba, the state-run media has acknowledged the outbreak of antigovernment protests. since the pandemic struck, the government blames the protests on u.s. agents and what it calls neoliberal opponents. president biden called on the cuban regime to listen to its people. the u.s. infectious disease chief anthony county says ideological rigidity is preventing people from getting coronavirus shots. vaccination rates are lagging in southern and midwestern states. felty made the rounds of morning talk shows to reinforce the administration's position that the vaccines are indeed safe. the white house is stepping up its effort this week to counteract republican laws to restrict voting rights. vice president kamala harris will discuss a bi

this is bloomberg. ♪ matt: this is bloomberg markets. i'm matt miller.he june jobs report due out tomorrow morning. after a couple of disappointing months, let's get an outlook from kathy bostjancic, oxford economics usa. what are you looking for in tomorrow's number such and marked we've had a couple of misses. >> we think it improves and we are looking at an increase on the month. it's a very good, solid report. it south of what chairman powell had said. they are already talking about it. a little bit south of that, but the unemployment rate falls. part of that is going to be workers returning in the hospitality and leisure. we think that half the jobs created are going to be in that sector and worth mentioning, the seasonal factor showed hiring for education and teachers. matt: what about average hourly earnings? i know that is something investors are watching closely for. what are you expecting? >> we think it will be rather strong. that will push the rate from 2% to 3.8. a year ago, wages were skewed by all kinds of funky things that were happening.

we welcome our bloomberg and bnn bloomberg audiences.p stories we are following for you from around the world. we are going to get the fed minutes from the fed's june meeting. investors will be looking at any hints for when the central bank will taper. we will have a preview with michael gapen. plus, meme stocks under pressure. amc and gamestop sliding today. we will break down the moves with dave wilson, and the outlook for crypto regulation. mike belshe, cofounder of bitgo, joins us to talk about that. amanda: we are seeing something of a quiet session, although we are seeing some trading off stories for individual names. over, pretty flat picture, slightly negative. everything but communications and energy are moving higher, just not moving higher with any momentum to speak of. the nasdaq just dipped lower. 2:00, the fed minutes may shed light on some of the discussions around when the tapering may happen. it really is the bond market that has been the focus, playing a part in how these sectors have been trading. the 10-year trading a

this is bloomberg. ♪ alix: this is bloomberg markets., sheila smith, senior fellow at the council on foreign relations joins "balance of power" at 12:30 in new york. this is bloomberg. here is your bloomberg first word news. pfizer is supplying 65 million more doses of its shot, and this is said to be for kids. the vaccine will be for children under 12 pending authorization from the u.s. government. talks between the european union and the u.s. on vaccines are making little progress. bloomberg has learned because there is no federal certification program in america the eu launched a covid pass at the beginning of the month. the block is in an advanced stage of talks on a vaccine passport with the u.k.. that is your first word news. italy is now restricting any leisure activities for citizens were not vaccinated by requiring a green past. prime minister mario draghi spoke earlier. >> the green past is not an arbitrary matter. even in the definition of the parameters, the choice was to proceed normally with many regions in the yellow zone

we welcome our bloomberg and bnn bloomberg audiences.e the top stories we are following from around the world. new mask guidance. the cdc is expected to recommend even those who have received the coronavirus vaccinations resume wearing masks indoors in certain areas of the country. we will discuss the impact on the return to office and business travel with hilda perez alvarado, global ceo of jll. the recent improvement in air travel fueling ge to raise its cash outlook, sending shares higher. the full breakdown of earnings in our stock of the hour. and bitcoin holding at just under $40,000 after amazon pushed back on that speculation that it may accept the token for payment this year. we will discuss the recent volatility with the u.s. ceo of crypto exchange xmo. amanda: stocks like ge moving higher are a rarity today. we are seeing broad-based declines. a 1% move lower on the s&p 500. it is led by energy, but tech right behind. tech is the heavyweight in that market. some notable names, tesla down almost 4% or more, despite the fact tha

this is bloomberg. it is time to the bloomberg business flash. learned chinese aviation officials are open to conducting test flights on boeing 737 max. that would be a step towards lifting the plane's grounding after more than two years. even if a test flight is main suit it could be months before the 737 max man is removed. -- band is removed -- ban is removed. earlier this week, mercedes parent daimler warned sales would be further curtailed by the global chip shortage. a number of people on twitter are threatening to boycott china because they are unhappy about a video the dutch posted on social media showing a group of senior citizens dancing in a club and ending with the message the night longs to the vaccinated. some call the video propaganda. heineken says the ad is all about supporting bars and restaurants. that is latest business flash. guy? guy: they look like they're having fun. g20 finance ministers are sounding confident they can reach an agreement on a global been among corporate tax. bloomberg's maria tadeo is in venice into stand

we welcome our bloomberg and bnn bloomberg audiences.e the top stories we are following for you from around the world. we will have more of that exclusive conversation with apollo cofounder mark rowen. his vision for the future of the investment giant. draft legislation to federally decriminalize cannabis in the u.s. is facing tough. we discuss the impacts of the bill with the ceo of tilray, irwin simon. and the group fitness class back by mark wahlberg starts trading on the new york stock exchange. we will speak to ceo adam gilchrist. amanda: we are watching the markets in the u.s. broadly speaking. a little bit soft today. strength is from utilities and financials. energy and tech not helping at all. the nasdaq gathering momentum to the downside. the 10-year at 1.3, so keeping our eyes on the yield but it does not explain why financials are doing so well today. morgan stanley with pretty solid investment banking quarters. one group to keep an eye on in the news because of u.s. lawmakers, cannabis groups. many have waited for the day wh

this is bloomberg. let's check in on the bloomberg first word news.ate run media has acknowledged the outbreak of antigovernment demonstration. cuba has faced growing hunger after his -- after the economy was hit by a slump in tourist revenue after the pandemic. president biden called on the cuban regime to listen to its people. world hunger surged to a 15 year high in 2020. the united nations says the pandemic cut incomes and access to food. the yuan report says as many as 8-11 -- 811 million people -- a yuan report says as many as 800 -- a u.n. report says as many as 811 million people were hungry in 2020 -- president biden delivers a speech on issues tomorrow in philadelphia. 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. a big win for the united states. the european union is postponing its push for a controversial digital tax in order to focus on negotiations over the deal for a global

eastern on bloomberg tv, radio, bloomberg.ng kong, but a dozen companies have halted trading ahead of the start of trading this friday morning. they are the likes of castle resources, eres asia, saying the suspension is due to a delay in publication of results from march. we continue to watch those stocks, but at this point, the halt has affected a dozen companies. punk am going to the start of trading this friday. coming up, more market insight from a ucla professor. this is bloomberg. ♪ so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress and emotional eating and losing weight. go to golo.com and see how golo can change your life. that's golo.com. ♪ >> it's looking good for the future. now we've got to get the conventi

this is bloomberg. >> still ahead, we will hear exclusively from the advisor to japan's prime minister, yoshihide suga. he will be telling us about a possible stimulus package and institutional reforms being weighed by the government about coming up next, a ceo says that there is more volatility in asian markets partly due to asian tech regulations. we will get more from her, just ahead. this is bloomberg. ♪ >> inflation has increased notably and will likely remain elevated in coming months. inflation is being temporarily boosted by base effects of the sharp pandemic related price increases which drop out of the 12 month calculation while reaching the standard of substantial further progress is still a ways off. participants expect that progress will continue and we will continue these sessions in the coming weeks. as we have said, we will provide advance notice beforehand for any changes we make. it is a broad range of things including wages, unemployment, levels of employment, participation, and those

this is "bloomberg markets."nings season has been rolling on, and in europe, it means a new high on the stoxx 600. there has been this narrative, you and i have certainly talked to people who say it is still all about american exceptionalism, that that is where you find growth. here is some data from bernstein about annualized earnings growth since 2019. if you look at just pure market, what is going to happen, that is the metal bar here, bernstein says the u.s. market growth is 9.4%. that easily beats out what is happening in europe at 2.5% growth. so maybe as a whole, you might want to go in and buy europe. but when you get into the factors, the picture gets more complicated. in terms of the growth factor, use to the u.s. outperforming, but value is where europe shines, so u.s. value, annualized earnings growth at seven point percent. in europe, it is 8.3%. this is a market that is perpetually undervalued, so bernstein making the argument with this data, don't buy u.s. value. go in and buy europe value. let's g

this is bloomberg. ♪ shery: jeff bezos and three other passengers pulled off blue origin's first crewed flight to space. jeff described the experience to bloomberg's emily chang. emily: welcome back to earth. how do you feel? jeff: really good. emily: this is your first interview since landing. we all want to know the reality of seeing the earth from above. did it live up to the dream? jeff: beyond. i am not talented enough to describe it in words. it was much more than i expected. it is on's firing. do you have words -- awe inspiring. do you have words? emily: how does this fit into the long-term vision? >> we are building an orbital vehicle in this vehicle, new shepard, we will fly that over and over. it is practice for the orbital mission and it gives people a chance to see what we just saw, which is this fragile and beautiful earth that we cannot imagine. until you see with your own eyes , i don't know. we should send someone who would be better at describing it. it is just this thing that you canno

this is bloomberg. ♪ brazilian president jagger bolsonaro will remain hospitalized after a partial disruption. the travel ban is likely to come up today when the president meets with german president angela merkel. 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. this is bloomberg. anna: coming up, studying recovery. china's q2 gdp, we discuss the state of the second largest economy. this is bloomberg. ♪ >> the domestic demand recovery has not been as strong as policymakers were expecting. >> they acknowledge the slow down and they are there to support the economy. >> for june, the online promotion, june 19 was in place and people were still spending. >> the second half of this year, bigger than people thought. >> looking to the second half, we need a little bit more on the monetary policy side. >> a chance to cut again but i think the probability is low. >> we forecast another cut. anna: a number of guests react

this is bloomberg. ♪ ritika: this is "bloomberg markets." on "the european close," herbert diess, vw ceo. this is bloomberg. ♪ let's check in on the bloomberg first word news. i'm ritika gupta. the biden administration well-worn american companies of the risks of operating in hong kong. those risks include china's ability to gain access to data that foreign companies store their. another one of the concerns, a new law that lets beijing impose sanctions on anyone that enables foreign penalties to be implement it against chinese groups. treasury secretary janet yellen expects to get some help in pushing congress to approve a global tax agreement. bloomberg -- that may be needed to help overcome the public and opposition. the international energy agency warns that oil markets will tighten significantly unless the opec-plus coalition agrees to increase production, as a deadlock between saudi arabia and the united arab emirates threatens crude coming out trading at a two-year high. global news 24 hours a day, on air and on bloomberg quicktake, po

this is bloomberg. ♪ matt: this is bloomberg markets.mf miller in berlin with dani burger in london. the standoff within the opec-plus alliance as saudi arabia has pushed back against the uae's opposition to a proposed production increase continues. an unprecedented move, both countries have aired their grievances on television. first, uae energy minister spoke to our manus cranny in dubai. >> just to be clear, he has not threatened to leave opec and right now, you are not prepared to threaten to leave if you don't get a deal? >> no. i think if we don't get a deal, then we have an agreement -- we are not now close to walking away from that agreement. uae is not going to be an obstacle in front of anyone. we sacrificed a lot and we will continue to sacrifice but beyond that, we have the right to discuss and we demand to have the time to discuss and put our grievance in front of the group. matt: responding to the uae, the saudi energy minister spoke exclusively with bloomberg. >> i would emphasize that the whole group, that is just one cou

this is bloomberg. ♪ ritika: this is "bloomberg markets."aytheon technologie'' chairman. this is bloomberg. ♪ let's check in on the bloomberg first word news. the european union is unveiling a climate change plan to phase out fossil fuels. it would have an impact on every corner of the economy, from how people heat their homes to the cars they drive. every industry would be forced to cut 55% from 1990 levels and combustion engine cars would be limited. -- is fighting an outbreak of the delta strain of the coronavirus. stay-at-home orders for sydney will remain until at least july 30. the city has already been isolated for three weeks. senate democrats on the budget committee have agreed on a 3.5 trillion dollars spending plan that would expand medicare and provide more generous childcare benefits. the agreement is a win for budget chairman bernie sanders. he has pushed for that medicare expansion. 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

this is bloomberg. heidi.a second person in sydney has died as new south wales has an outbreak of covid-19. the government is expected to announce another extension today. let's bring in georgina mckay. we saw the case numbers dip slightly but this does not suggest a trend. now that the financial elements are in place, can we finally see some of these stricter lockdown measures for businesses? >> that's right. yesterday's case numbers dipped to 89 from 112 the day before and that number is likely to bounce around. the numbers may go up again this week. there's apparently thousands of people that have been listed as close contacts so we might expect a rise. the number of people in hospitals is also increasing. people admitted -- intensive care. as you said yesterday, the state and federal government announced a joint economic package for those who have lost work and for affected essences. i would say that the lockdown announcement is imminent. perhaps this morning, we might hear from the premier regarding this

this is bloomberg. ♪ ♪ dani: welcome back to bloomberg daybreak: europe.ani burger in london where it has just gone past 6:13. turning to the tax conversation were officials from 130 countries have endorsed setting a minimum tax rate for international corporations. this sets the stage for g20 finance ministers to sign off on an agreement next week and a possible implementation of its rules which could happen as soon as 2023. obstacles for the deal still remain. let's get more on the story from bloomberg's maria tadeo who joins us live from madrid. give us what the details are that we know so far when it comes to this agreement. maria: it's 130 countries that --. they say this is a real tax revolution going into the 21st century. we are looking at a two-step solution. the first one would allow for the corporate and mom tax of at least 15%. according to the oecd, we could see an increase in tax revenue of around $150 billion on an annual basis just based on this minimum tax. the second step for both countries is even more important than the effective rate. t

this is bloomberg. ♪ mark: i am mark crumpton with bloomberg's first word news. the u.s.enters for disease control and prevention says it recommends that even fully vaccinated people wear masks in public indoor settings in places where covid-19 is spreading rapidly. the cdc director says this could have been avoided if more people were vaccinated. president biden today was asked whether he would consider making vaccines mandatory for federal employees. >> would you require all federal employees to get vaccinated? pres. biden: that is under condition right now. -- that is under consideration right now. mark: a special house panel convened to investigate the january 6 insurrection at the capital with testimony from four of the police officers overrun by the mob of former president trump supporters, seeking to disrupt certification of the electoral votes from the 2020 election. >> telling the truth should not be hard. fighting on january 6, that was hard. showing up on january 7, that was hard. the eighth, ninth, 10th, all the way until today. that was hard. when defense cam

stay with us on bloomberg radio and bloomberg television.ning. ♪ jonathan: live from new york, 30 minutes away from the opening bell. the countdown to the open starts right now. >> everything you need to get set for the start of u.s. trading. this is "bloomberg: the open" with jonathan ferro. ♪ jonathan: from new york, we begin with the big issue. looking ahead to chair powell. >> volatility in both directions. >> an environment where there has so much volatility. >> the most recent move has been more of a general risk off shift. >> what is going on at the long end of the curve. investors need to cs is interest rates continue to rise. >> it has been well fellow -- well telegraphed that the fed will begin to taper probably around year end. >>

this is bloomberg. ♪ laura: this is "bloomberg markets."an and ceo. this is bloomberg. ♪ alix: live from new york, i'm alix steel. this is "bloomberg markets." a tough day for the airline sector. southwest shares flying low. the company reporting second-order earnings. abigail doolittle is digging into the earnings. walk me through the negatives in the report. abigail: it is a rough day for the stock itself, in line with the 20% decline from the april highs, so perhaps some traders really anticipating what we are seeing now with the delta variant. here is the hit from the pandemic to southwest's earnings. what investors are really queuing in on is the idea that the company is hopeful that they will turn a profit in the second half. you can see the third quarter, $85 million profit estimate. but there's not as much certainty as united express yesterday. however, southwest's outlook seems to match the tone, so you have a little bit of rough sailing, or flying i should say, for the airlines on the day on this commentary. if we dig in a little

let's get a bloomberg business flash.hares have tumbled after chinese regulators ordered apple to remove ride-hailing service didi. japan's softbank is the top shareholder in didi, which recently listed in the u.s.. it comes just two days after china's cyberspace regulator announced a review of didi. syngenta is seeking to raise about $10 billion in a shanghai listing that could become the world's biggest ipo of the year. the swiss seed and fertilizer business is seeking to list on china's nasdaq style board, with plans to sell a suwanee percent stake of the company. shares in sydney apple sword after a $17 billion u.s. takeover from a group, in one of the boldest recoveries for global travel. australia's largest airport is at a premium to the previous closing price, though still below the level it traded before the pandemic. that is the bloomberg business flash. anna: laura wright here in london. coming up, our analysts have identified 10 companies to watch going into the second half of the year, and they all have someth

on bloomberg quicktake.'m ritika gupta. this is bloomberg. ♪ >> the strength of the employment report, they are at maximum employment so they have leeway come but they talk themselves into this corner and they will try to talk them subs out. jonathan: that's the sound of the real hawk. charles plosser, former philadelphia federal reserve president. the days of president fisher, president plosser, those days are gone. none of this bullard, kaplan stuff. this was when they use to actually dissent. kailey: you can't blame them. -- lisa: you can't blame them. they've been conditioned by rate hikes that had to be reversed. at what point do the centers -- do the dissenters have a point? you have a discourse, but it's kind of narrow. jonathan: we are down 0.6% on this be 500. someone earlier called stagflation light stag lite. sounds like something tom keene is drinking this morning. what would it mean for this bond market if more and more people start talking about stagflation? of course, we are talking about slow

this is bloomberg. let's check it on the bloomberg first word news.cs will ban domestic spectators and events held in the city. that reverses an earlier decision to allow some fans. a resurgence in coronavirus cases push the government to declare a of emergency in tokyo. your trip to the grocery store may soon cost last. global food prices fell for the third time in a year. the united nations gauge of food cost fell 2.5% in june. it was the first decline since may 2020. consumers may not feel the drop just yet. the index tracks the cost of raw materials and it takes time for price changes to feedthrough to store shelves. bloomberg has learned european central bank policymakers have agreed to raise their inflation: 2%. plus they will allow room to overshoot it if needed. that is a big change from the previous target of below but close to 2%. 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. taylor? taylor: thank you. bp out wi

this is bloomberg. shery: still ahead, tensions are rising between the u.s. and china as beijing has rejected allegations of cyber hacking. we will get insight from the gms program director. first, shares of leslie fell -- of netflix fell. we will get you the numbers and the latest of the ongoing earnings call. this is bloomberg. ♪ haidi: let's get a look ahead for australia and new zealand today. half of australia's population is back in lockdown after south australia joined torrey a and new south wales in ordering residents to stay-at-home as the delta variant leaks across the country. dividend payoffs for most really is biggest companies are expected to bounce back to pre-pandemic amounts in 2021. a bloomberg's group. php is said to be considering to get out of the oil and gas business in a multibillion-dollar is this that would accelerate its exit from fossil fuels. netflix shares falling in post market-rate after the company's forecast missed analyst expectations. our senior analyst believes netfli

bloomberg television plus bloomberg quick take.ecord high for the s&p. nothing much when it comes to intel. the european close. intel c.e.o. we speak with him. do not miss the interview. this is bloomberg. and there you have it - wireless on the fastest, most reliable network. wow! big deal! we get unlimited for just $30 bucks. i get that too and mine has 5g included. impressive. impressive is saving four hundred bucks a year. four bucks? that's tough to beat. relax people, my wireless is crushing it. okay, that's because you all have xfinity mobile. it's wireless so good, it keeps one upping itself. (announcer) back pain hurts. you can spend thousands and still not get relief. now there's aerotrainer by golo. you can stretch and strengthen your core, relieve back pain, and tone your entire body. (man) and you're stretching your lower back on there. there is no better feeling. (announcer) do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me. it works, 100%. (announcer) fi

this is bloomberg. haidi.coming up next, as tesla boosts earnings season with better-than-expected results, our guest joins us to take a look at what to expect from the rest of the big cap world. this is bloomberg. -- techworld. this is bloomberg. ♪ >> public sentiment is at the inflection point. at this point, everyone agrees that vehicles are the only way forward. >> elon musk speaking on teslas earnings call so take a look at tesla after hours. we have seen moderate gains to the tune of about 1.5% after the company reported better-than-expected -- off the session highs, 1%. better-than-expected earnings. i want to bring in the cofounder of a venture company. it seems like one of the most positive waves of momentum we have had for a while. what did you make of the comments and the numbers? >> they are impressive also big numbers. just take a step back and think about the action here. we are at this point of no return with easy adoption -- ev adoption 122% year-over-year for the june quarter. the auto industr

this is bloomberg. ♪ anna: this is "bloomberg daybreak: europe." am anna edwards live in london. let's stick with the earnings story. siemens healthineers has raised its forecasts after a strong start to the year. the company says it sees sales up as much as 19%. the cfo at siemens healthineers joins us now. thank you for coming to talk to us on bloomberg tv. let me start with the guidance. you have raised your guidance. is it all to do with antigen testing kits for covid-19, or is something else happening as well? guest: thanks for the question. antigen plays a role, but it is not everything. let me briefly touch on the quarter. we had a very strong quarter, kind of historic. we closed the deal and no one dropped the ball. that feeds perfectly into the race. we saw strong recovery from the pandemic and imaging, -- in the imaging, as well as the business in diagnostics and antigen test's. we expect to see a sharp drop, but for the year, we could raise that to one billion. this is part of the business. anna: let me touch on that outlook for antigen

this is bloomberg. haidi: virus cases in sydney soared as officials warned they have not yet seen at peak. coming up, didi warns of an impasse after its app for taken down in china. this is bloomberg. ♪ haidi: china's crackdown has dealt another low to tech firms after chinese regulators warned about data security. didi sans impact on its revenue after 25 mobile apps were removed. tencent also seeing an impact. let's get more from our markets reporter. this is a continuation of the theme we have been discussing over the last two weeks. does any of this, they surprise and what are the implications? guest: it is not a complete surprise because this is an ongoing campaign from the regulatory side trying to rein in these companies and the area for focuses -- antitrust and tencent falls into that. didi is about data security. there is also a crackdown on afterschool tutoring which you could put into the category of social equality. it's really not that good for the chinese to increase the population, so it's

this is bloomberg. ♪ ♪ dani: welcome back bloomberg daybreak: europe.week of mixed results for the u.s. big banks as wall street digests the figures. attention now turns to european banks. nebula, such a treat to have you on with us on of right a. -- on a friday. what have we learned at this point? nabila: morgan stanley followed the pattern that was set by wall street earlier in the week. basically dealmakers were the stars of this quarter. traders failed to live up to the glory of last year. we knew that they would struggle, that they had a tough job ahead of them. wealth management was a bright spot. at morgan stanley, we saw that the wealth management business added $10 billion worth of new loans which was a very good sign. the ceo talked about a good economic recovery and a bright future ahead for the bank. dani: i was talking to one banking analyst earlier this week who called some of these a sugar high that wouldn't last. is that a widely held view, that these aren't sustainable revenues in dealmaking? nabila: that is the big question. dealmaking

welcome to "bloomberg markets: european open." mark cudmore joins me in singapore to take us through all of the market action. the cash trade is less than one hour away. china drives market sentiment. the hang seng and yes i slump as beijing cranks down on education companies. traders are gearing up for more fed induced volatility amid rising virus cases. the s&p 500 hits another record on friday after strong corporate earnings but futures are now in the red. bitcoin surges amid short covering and speculation about amazon's potential involvement. we will talk for up to. good morning. welcome to the european market open. 7:00 in london. markets in singapore. good morning from london. what are the markets saying to you? mark: it has been a very exciting and volatile day in markets in asia, focused around china and some of the steps they are taking against some of their sectors there. h-shares were down the most in three years and that covers the full pandemic era and many other chinese indexes were down the most since july, the most