bloomberg. ♪ >> is 1:00 p.m. in new york. i matt miller -- i am matt miller. here are the top stories we're following for you. commodities have the attention of investors today. brent crude, rallying. approaching $85 a barrel. right now at $83 any four cents. the surge in energy crisis is adding fuel to the debate to whether inflation rushers will be transitory or they might derail the economic recovery pivot supply chain bottlenecks remain an issue for the recovery. we dig into where things stand now, just two months away from the key holiday shopping season. merck six emergency use authorization -- seeks emergency use authorization for the covid-19 treatment pill. let's take a look at what's going on and markets. we've got some real movement here in crude. i just showed you the nymex crude. we saw the level. that is the brent contract. this is the wti contract. the s&p 500, not really moving right now. the u.s. bond market is closed for the columbus day holiday today. stocks are still open. th

this is bloomberg. ♪ ♪ dani: welcome back to "bloomberg daybreak: europe."dani burger in london. let's get a look at these equity markets because it is continuing to trend lower on the first day of the fourth quarter and first day of october. we are looking at an ugly session in japan with the nikkei down more than 2%. china is closed. perhaps fears about the energy crisis being played out in the market. europe, again, that is an epicenter of the energy crisis, down more than 1.5%. s&p futures down not significantly, but still indicating a lower open. let's talk about that and inflation with investors bracing for wind down stimulus by the fed. fears are mounting about a slowing economic growth and that inflation, the consequences of a rising. asian stocks and u.s. futures starting in the red in the fourth quarter. we are showing those pretty rough gains. the s&p 500 has just capped its biggest monthly selloff since the start of the pandemic. joining us now is the cohead of public markets at -- thank you so much for joining us. thanks for waking up early on t

this is bloomberg. sherri. shery: a look at how bus lead remembers navigating uncertainty in the markets. we'll hear from key voices of the bloomberg invest global conference. before that, we talk strategy with alpha trade c.i.o. max gokhman. find out why he says spooky season for investors is just getting started. this is bloomberg. >> there's not lost places to ga regime like we're in now. >> it's a very good time to be liquefying assets. >> markets are liquid. so exiting makes sense. >> i'm not saying the market is going to go down 20% tomorrow but i am saying that there is sensitivity. >> do you still want to own equities? >> if we've got reasonable growth, equities, they are in the end tina, they're the only alternative for most people. >> what you don't want to own is long duration fixed income. >> long bonds feels like the wrong answer. >> because there you're more vulnerable. there's no place to hide. >> many institutions certainly seeing a home for crypto in their portfolios. >> and crossing th

this is bloomberg. ♪ let's check in on the bloomberg first word news. the u.s.d a navy department employee and his wife for allegedly selling secrets on nuclear powered submarines. according to the justice department, the buyer was an fbi agent posing as a foreign official. authorities say the case involved cryptocurrency payments and a memory card hidden in a been a butter sandwich. the u.s. and european union plan to announce at least 20 more countries will join a pledge to reduce athena missions. bloomberg has -- reduce methane in missions -- methane emission s. the human has found dusty -- the un has found that 80% of methods to reduce emissions can be of limited at no cost. the imf will meet today on the fate of its managing director, kristalina georgieva. georgieva has denied any wrongdoing. residence in new zealand have been tasting freedom at the coronavirus lockdown. new south wales has been one of the most prominent success stories and containing the coronavirus under the strictest orders when the delta variant hit back in june. residents who are fully

this is bloomberg. ♪ this is bloomberg. ♪ david: welcome back.g mid-morning, the start of the session in some parts of southeast asia. we are ahead of the thailand open. we are looking to where we are in north asia with the equity markets. there we go, a fraction of 1%. keep in mind a lot of these markets are largely more exposed to the oil story than some of their peers across the region here, guys. rishaad: yeah. looking at southeast asia they continue to open, or reopen their borders. of their economies have been hit really hard. in the process, let's get the latest from our reporter who leads the asia health and media coverage. rachel? rachel: what we are seeing in the region now is unmistakably this move toward reopening, these countries following the model that was pioneered in europe, travel is being resumed and reopened for vaccinated people. restrictions are going down. singapore, for example, is using vaccine mandates. . at the same time, thailand and indonesia economies i reopening for vaccinated people in tourist spots. that is the un

this is bloomberg. ♪ >> this is "bloomberg markets."kirby, united airlines eeo. -- united airlines ceo. this is bloomberg. ♪ let's check in on the bloomberg first word news. i'm john hyland. twitter ceo jack dorsey tweeted out the number -- put it out a number yesterday afternoon, leaving some to figure out whether it is related to cryptic currencies. bitcoin rose to a record high today after a strong debut by the first u.s. exchange traded fund. investors may have traded a lot of the new bitcoin users etf on its first day, but crypto bull cathie wood was not among them. here is wood at the mocon's to toot global conference st milken institute global conference -- the milken institute global conference on her reasoning. >> there's more having to do with contango versus or normal backwardation, so not yet. >> the fund from proshares is based on bitcoin futures and is the first of its kind in the u.s. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countrie

this is bloomberg. haidi: why the investment group says traders should buckle up for a bumpy ride. rebecca felton joins us next. our interview with 2021 nobel prize for economic sciences who shares his views on the labor market. this is bloomberg. ♪ >> do we really think what we are seeing now will move through the aisle on medium-term inflation asset? i don't think that's obvious. >> i think we received wages and commodities and all the things like that, so there's probably an inflection point. >> to be able to get through them without having to depart very significantly from the clients that they have. >> as central banks taper, inflation goes up. >> there's a lot of debt out there and movements in interest rates will have a big impact. >> we all depend on getting them right. shery: inflation concerns topping the agenda at the annual membership meeting as central bankers face rising price pressures. our next guest warns investors to buckle up as the ride could be bumpy. let's bring in the senior marke

this is bloomberg. ♪ matt: this is "bloomberg markets." .ow rates and abundant cash could go to $5 trillion. here to discuss the boom is stephan feldgoise, the cohead of m&a. we were talking about $45 billion deal with paypal and pinterest. it does not appear now as that will happen. i have noticed a trend. a lot of the huge deals we hear about that we are reporting on do not come to fruition. are we going to reach a new record with a lot of little deals? >> the vast majority sits at the larger sizes. this week and last week, this will be the most active m&a market in the street. that is eclipsing the numbers we have seen in some of the markets. dialogue continues. deals happen and sometimes don't . the velocity has been extraordinary. it continues at a robust pace. >> are at an interesting point and tipping over and what will be an all-time record for m&a. the conditions are perfect here you have the headwind of the antitrust, national security. you have credit, but that has been there for a while. but what is driving it? stephan: companies

this is bloomberg. ♪ ♪ dani: welcome back to bloomberg daybreak: europe.burger in london, just past 6:23 a.m.. european union letters are authorizing measures to blunt the impacts of the unprecedented energy crisis on the most vulnerable consumers and companies. all of this comes as we've been seeing surging commodity prices, and this is the bloomberg commodity index at an all-time high. it's not just this. it's not just energy commodities. it's lme metals at an all-time high. let's dig into this more. still with us is esty. you'll have to forgive me. i think i placed you at a different company. you are still getting used to the new title. let's stick with this energy story. we see the bloomberg commodity index at an all-time record, the lme record index at an all-time record. how much of this is due to pure speculation among traders versus the fundamental structural issues that the sector is facing? esty: it's a combination of both at this point, but there are certainly structural factors that are happening. we're seeing different stories across different

this is bloomberg. ♪ dani: welcome back to "bloomberg: daybreak europe."'s turn our attention to the markets in more detail as the inflationary debate heats up. thank you so much for joining us. you're joining on a day just after larry summers took to twitter basically saying to janet yellen that she is ignoring the reality on the ground of inflation. as the inflation conversation continues on, to what degree is that idea priced into markets? >> good morning. this is the big question hanging over macro debates at the moment. the big 2021 question. a different environment structural for inflation. we're coming from a period which is unprecedented such as the post pandemic shock and then a period where we're seeing huge pumping of fiscal stimulus. that's why markets, the biggest theme has been -- and so we're thinking that is now reflected, you were highlighted earlier the fact that we're at levels which are probably the highest in the last 15 years plus a little inversion in that curve and we're in terms of pricing interest rates, particularly for the fed g

this is bloomberg. shery: still ahead, we discussed the surge in commodities prices with trade flow ceo tom james. what he sees oil hitting $90 a barrel by the end of the year. next time our guest says he expects accelerate story inflation proves to be transitory pit this is -- a proves to be transitory. this is bloomberg. ♪ shery: the family office of george soros is preparing for higher energy prices to become the new normal. in an exclusive interview at the bloomberg invest global conference, the cio discussed a price in -- a spike in energy prices and how that is affecting investments. >> i think on the energy side it is largely a political phenomenon. i think russia had invest -- had a vested interest in natural gas prices being high in the context of nord stream 2 two approval. in the context of china, i think the decision around australian coal -- >> which is to say not to buy anymore. >> to put them in the penalty box. they failed to realize is even though the majority of their coal is domestica

this is bloomberg. tom: coming up, both houses of congress passed a bill with just hours to spare to avoid a government shutdown. but they failed to resolve the threat of a u.s. deal linked to the debt limit. ♪ plus china's power crunch is unleashing -- in the global commodity markets. francine: next, markets in the fourth quarter. aussie action and what we can expect in the final stretch of the year. ♪ francine: not looking great for the moment. european stocks, futures down 1.4% after pressure we saw in the u.s. yesterday, also pressure in asia. if you look at the s&p 500 yesterday, it was the biggest monthly loss since march 2020. the start of the fourth and final quarter of the year has been marked by red. for all the market moves, we are joined by juliette saly in singapore. what is going on? >> we saw the s&p 500 down by about 5% over the month. the worst month since october 20. we continue to see worry and it has not started off on a positive front for the new quarter either when we look at asian

this is bloomberg. ♪ john: this is "bloomberg markets .", and exclusive interview with reid hoffman, greylock partners. this is bloomberg. ♪ dani: facebook out with third-quarter earnings after the market closed yesterday. on deck later, we have alphabet, microsoft, and twitter. let's get to bloomberg's laura wright with the takeaways. what are you looking at this afternoon? laura: the market was really focused, what are they going to do for advertising revenue? can they overcome that negative crescendo of new slope? the earnings came through and it was a -- crescendo of new slope? the earnings came through and it was a slight miss. they were at the lower end of analyst expectations. daily and active monthly users broadly in line with expectations. this is in the context of a stock that, year-to-date, has rallied 20%, but still 14% down from its september peak. i can show you some of the most interesting takeaways. the reason why facebook missed primarily is those apple privacy changes. on the call, executives cited that is the key reason f

a bloomberg scoop. the ecb starting a new bond buying program to prevent market turmoil when pandemic support is phased out next year. a warm welcome to the program. welcome to the european market open. very nice to be back in this studio. just gone 7:00 in london. mark is in london. good morning to you. very early morning. earlier than you are used to. what are the markets saying? mark: it is great to be in london. great to have you back on the show. markets are happy to celebrate your return. a number of issues supporting sentiment. there is a slight sign of positivity around the debt relief situation. it is only a temporary solution. tech stocks very strong. a little bit of easing and energy prices in oil prices from the gas price drop yesterday is very positive news. short-term, the sentiment is good. how long it sustains might be a different issue. but today, looking positive. anna: we will get into that conversation later during the program. let's get to some data. you've got the industrials produ

this is bloomberg. shery: coming up, our exclusive interview with the bank of america chairman and ceo. we will also hear why brian moynihan thinks inflation will not be temporary. we talk investment strategies with the wealth enhancement group as they are the start of tapering in the november fed meeting. this is bloomberg. ♪ >> the inflation story. the supply chain interruptions and other things have clearly been real. some of that is temporary but not all of it. i think we are in a period where inflation is going to take up. it is going to face -- to force the fed to move more than they have. >> inflation is not temporary. the way to conflate that is start to get to work on it. >> inflation is running at a much higher pace than we thought it would be a few months ago. it is going to be there for a bit longer. we're seeing a bit of pressure in wages but not across the board. only in certain pockets of the country. shery: executives talking about inflation expectations. our next guest says elevated pri

this is bloomberg. matt: i'm matt miller. welcome to bloomberg markets. stocks slightly lower as investors way inflation risks as well as look ahead to earnings season. the 10 year yield remains steady ahead of those auction results that we are expecting just moments away. plus u.s. small business owners say they have plenty of customers are growing frustrated by labor and supply shortages. a bloomberg report looks at thousands of decrepit oil and gas wells leaking methane across the u.s., the news is in shares of the country's biggest owner, diversified energy, plunging more than a fifth. we will have more from our pulitzer prize-winning reporters. the s&p 500 is down about .2%. brent crude also falling now. nymex falling as well today. in terms of the glc a picture, losses in gasoline and oil. take a look at the big coin price. -- bitcoin price. we will be watching very closely. we are just about to get the auction results out. those 10 year notes drawing that one spot versus one spot 590 presale when issued. this is just one of a few actions that we've

this is bloomberg. ♪ >> the day, a bloomberg exclusive.ister boris johnson speaks to bloomberg at 10 downing street to discuss the investment landscape post-brexit, the economic impact of covid, and in the upcoming cop26. >> we are embarking now on a change of direction that is long overdue. >> look for the full interview on the bloomberg terminal and on bloomberg tv and radio. this is bloomberg. emily: the south korean hit show "squid game" has been toppled is the most watched show on netflix. it was in the top spot for 25 days, and is still the biggest series launch ever, since its september 17 release per the new chart leader is the third season of "you." that does it for this edition of "bloomberg technology." tomorrow we have another great show lined up. andre swanson will be joining us, along with cathie wood. conversations you don't want to miss. i am emily chang in san francisco. this is bloomberg. ♪ it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only

this is bloomberg. ♪ anna: welcome back to "bloomberg: daybreak europe."he french tech company reported earnings and boosted its non- earnings share forecast for four years. joining us is the ceo. thank you for speaking to us at bloomberg television. let's talk about your guidance. you boosted your eps of use. and the guidance for the full year. what gives you this point to do that? i apologize, looks like we have lost bernard. the writing is on the wall when he disappeared from view and an image of him was there instead. we will see if we can reestablish the connection with him. delivered what they called a strong set of quarter numbers. the for your numbers on revenue and eps side look better than anticipated. q3 numbers on revenue anticipated. i think we have bernard back with us. good morning. i wonder what would give you more confidence to upgrade your guidance this morning? >> we have a strong third quarter, a strong year to date situation, and good visibility with the pipeline. i think the double-digit, life science is strong, manufacturing is stron

this is bloomberg. shery: still ahead, store closures and supply chain disruptions hit retailing's bottom line. up next, we will ask the pepper international ceo why she is cautious on oil. this is bloomberg. ♪ >> the supply chain interruptions, natural gas and other things have clearly been real. some of that is temporary., but not allof it i think we are in a period where inflation will force the fed to move aggressively than they are predicting. >> right now that inflation is not temporary. as people worry about it permanent, it will conflate that up. >> inflation is rising at a higher pace than we thought it would be a few months ago and certainly will be there for a bit longer. we are seeing a bit of pressure in wages, but not across the board, really oli and certain pockets -- only in certain pockets of the company. paul: there are some of the big u.s. bank leaders speaking. let's bring in carol pepper, founder and ceo of pepper international. transitory becoming a dirty word when we talk about in

matt: welcome our bloomberg markets and bnn bloomberg markets.e top stories we are following around the world. draftkings jumps in trading after a potential $22.4 billion merger unraveled. we will bring you what is moving on the back of those failed talks in our stock of the hour. and we will take a look at the global economic pictures as the second largest country faces defaults and china claims down on leverage. but we go from silicon valley to napa valley and speak with the ceo of silver oak winery about the state of his business amid later -- amid labor shortages. i'm looking forward to that. amanda: that will be interesting. a quick check on the averages and we see something of a mixed picture. back into positive territory. for the s&p 500, it tells the story a little bit because the subgroup is utilities today. we will get a read on inflation this week, but a lot of flight -- a lot of stories and big swings in that regard. facebook today, trading lower on the day but facebook is upping its capex and bank of america says that will benefit ch

this is bloomberg. ♪ let's check in on the bloomberg first word news.s have agreed on a deal that averts a default on u.s. government debt for now. the plan extends the debt ceiling until december when lawmakers will face another vote to raise it. chuck schumer says the hope is to get the agreement passed today. apple has a new plan for cars. bloomberg has learned it is working on technology that will allow drivers to use iphones to control the air conditioning, radio, and others. car play is opted -- is offered by most major automakers. a magnitude 6.1 earthquake struck near tokyo, rattling parts of the capital, the most since march 2011. the wake called buildings to sway. some injuries have been reported. power was knocked out in some areas. there is a booming market for finance jobs in london now that the u.k. lockdown has been eased. there more than 8300 new listings for financial services positions in july and september, more than twice the number and the third quarter last year. global news 24 hours a day, on air and on quicktake by bloomberg, pow

this is bloomberg. ♪ amanda: this is bloomberg markets.tching shares of vita coco that begin trading today. it leaves the coconut beverage maker at evaluation of more than a billion dollars. we have the ceo, ritika: -- we have the ceo, mike kirban. mike: i started building this business 17 years ago with my friend. it is one of the largest healthy beverage platforms out there. our flagship brand is one of the household staple. we have new brands and other categories as we want to be the leading player in healthy beverages and become one of the largest beverage companies in the market. being in the public market allows us the chance to achieve our potential of being are the largest and most impactful average companies. matt: tell us about the other brands. vita coco is established and popular already. everyone knows it and reaches for it if they are health-conscious or just thirsty. what other brands are you working on? mike: power lift is a new take on sports drinks. eta rate has owned this for generations. -- gatorade has owned this for g

this is bloomberg. haidi: still ahead, we will hear from the group ceo about how the hong kong businesses emerging from the abyss. that is coming up on generation next. market outlook amidst inflationary pressure. this is bloomberg. ♪ haidi: asian stocks will will start the way higher after there are concerns of inflation and the economic recovery. our next guest says conditions are conducive for risk asset but there is a long overdue pullback for joining us now is the head of research at asset management. what will be the major catalyst? there are so many concerns over these clashing's of different crises. energy costs, what is going on in china, the slowdown of the consumer. what will be the driving force for the next period of time? guest: many moving parts of the supply chain disruption but the market is topped off quite well and sending off mixed messages. it is an aggregate. in aggregate that we know that these conditions are conducive for earnings. they could be growing well above historical benc

this is bloomberg. ♪ matt: this is "bloomberg markets."res of intel have fallen more than 10% after the chipmaker reported earnings and and projected -- reported earnings and more spending. the ceo sat down with us to discuss the results. >> my projections have not changed. pat have: always said the second half of this year is the worst. it's the bottom. qi, or every quarter next year, will get incrementally better, but we are going to see shortages that persist into 2023. this is the bottom, and it will start getting a little bit better every quarter next year, but we will not see reasonable supply demand balance until 2023, it just takes that long to build new capacity, to expand capabilities in manufacturing, and to see a rebalancing of the supply chain across the industry. overall, it clearly impacted our q3, and we expect q4 results to have better revenue results. amanda: that was intel's ceo. we want to break down the earnings further. ian is with us from san francisco. obviously, concerns about spending, and intel warning without he

this is bloomberg. ♪ dani: welcome back to "bloomberg: daybreak: europe."lds have been capturing the attention of these markets, specifically the upward margin. it has been acute in europe. we are looking at the u.k. and german ten-year yield over the past 30 days. a steady upward march. this chart is pointed out by michael purves. it is no mistake that yesterday when we saw yields easing, it was when we started to see gas prices easing. specifically natural gas. the u.k. market is what you are looking at. this easing happened when we had news putin was looking at supplying more to the european market. both of them moving in tandem. how much relief can we take from this news? how much is this really a yield spike moderating? let's dig through these markets. joining us is garfield reynolds. i'm looking at u.s. 10 year yields marching higher. i do have to wonder how you interpret the move of these yields? is it really tied to the energy markets at this point, or is there something else that play? -- at play? >> there is almost always more than one thing at pl

this is bloomberg. matt: i'm matt miller. welcome to bloomberg markets. here the top stories from around the world. we will bring you updates throughout the hour from apple's unleased event where the iphone maker is expected to reveal its long-awaited redesign of the macbook pro that uses its own in-house chip. we will go live to the health conference underway in boston and speak to the ceo of good rx about the cost of lowering prescription drugs. and we will talk to the ceo of the crypto firm going public on the new york stock exchange about the launch of the first u.s. bitcoin futures and what this means for institutional adoption of bitcoin with the cost of crypto on the rise. you can see the s&p 500 is now up. it had been down earlier. you can also see that the u.s. 10 year yield is up. this is true at the shorter end of your curve. the sovereign bond column is packed with black boxes. they are all too years across the globe. brent was up over $86 a barrel. it's now trading down. bitcoin trading just under 62,000. i want to get to the flattening treas

this is bloomberg. anna: welcome back to "bloomberg daybreak: europe."oe biden and other g20 leaders are arriving in rome where international diplomacy will be put to the test, from climate to energy and the global economy, heads of state look for consensus amid rising geopolitical tensions. we are joined by her european correspondent, maria tadeo, in rome. thank you for tracking these leaders across europe and these big events. the g20 and cop 26 coming up, how realistic should our expectations be? how much can be accomplished? maria: that is the big question going into this weekend in rome. there is a lot on the agenda. you mentioned that energy crisis, security, china, the global economy will be talk about and will be a big talking point. how much will translate into action? officials are worried about climate, and they see if there is not a major agreement out of this, it is unlikely to see governments meet the paris obligations, especially when you look at the 1.5 degree climate target. that could be in jeopardy unless major measures are made. the o

this is bloomberg ♪ -- bloomberg. ♪ ♪ anna: good morning. welcome to "bloomberg markets: europe."n london this hour. the cash trade is less than an hour away. evergrande shares sink while a worsening cash squeeze. . a looming dollar bond deadline could tip the developer into

this is bloomberg. ♪ dani: welcome back to "bloomberg daybreak: europe."dani burger in london. things are definitely changing in china and it is important to understand what exactly is going on but tremendous opportunities are still there to be grassed. that is the view of the deputy ceo. he spoke to manus cranny as part of the bloomberg best global summit. >> absolutely, things are changing, no doubt about it. we have an office in beijing, folks who are on the ground, trying to understand what is happening. but again, this is the second-largest economy in the world. it is still growing. so far, we have not encountered any resistance from an industrial perspective. i think you need to be careful. i think you need to rethink what risk-reward looks like and because you don't have all the answers, because that story is still tbd, if you well, still developing, we are trying to figure out where it will land. we are still investing, deploying capital in china. we think that in many sectors, the fundamentals are still pretty strong. >> what is the most appealing

this is bloomberg. haidi: opec says it's not yet ready to boost oil production as prices surge across energy market. we will be talking with the nasdaq senior director of energy capital markets tamar essner. and coming up next we get that market insider investment strategy from the president and c.i.o. of gibbs wealth management erin gibbs is joining us. this is bloomberg. bloomberg. >> that is the only mandate of the fed. price stability and full unemployment. and let's be clear. right now we don't have price stability. inflation at 5% is among the highest numbers that many in this room have ever seen in their lifetime. and the bet is it's transitory and that's a big bet. shery: founder and c.e.o. ken griffin who thinks calling inflation transitory is a big bet. our next guest says investors should have investments in both value and growth amid those inflationary concerns. let's bring in erin gibbs, president and c.i.o. at gibbs wealth management. erin, always great having you with us. let me get start

this is bloomberg. amanda: welcome to bloomberg markets.elcome both to our bloomberg and bnn audience here. here are the top stories we are following for you. bank earnings kickoff. jp morgan lead to results for the big banks and shows the m&a market is alive. we will break down the results of the biggest bank in the u.s., and talk about what it foreshadows the rest. plus, we are going to take a look into the space tourism industry. you just saw, you shatner officially becomes the oldest person ever to go to space. with amazon's blue origin. and we are going to talk about the supply chain crisis and get a preview of what president biden plans to do. he is meeting at the white house in the next hour with corporate executives, labor leaders, and port officials to try and figure out a solution to this crunch. amanda? amanda: of course we are watching the markets, digesting inflation data, and also some of the earnings we are seeing, including from the financials. we are seeing a turn to the positive here. we did see a strong reaction, but not

this is bloomberg. >> growth stocks have had an incredible run and the winners, the drivers of this bull market. i think we're starting to see some cracks emerge that there's just -- there's probably better places to put your money going forward. haidi: veteran investor telling traders to cut their exposure to growth and thinks banks will be the main beneficiary if the fed is forced to hike faster. our next guest says inflation won't rise enough to force the fed's hands. let's bring in laila pence who is the president of pence wealth management. laila, how do you characterize the price pressures that we're seeing? laila: well, you know, it's to be expected with the rise in inflation everywhere right now even though we just think it is transitory. and like it will definitely force the fed eventually to raise interest rates. but they can expect -- they can live with a lot more inflation before we do that. we don't expect rates to go up for another year or so as long as the market knows it's coming. and th

this is bloomberg. ♪ leigh-ann: i'm leigh-ann gerrans with bloomberg's "first word news."cific steps opening to international travel. a 14 day quarantine for travelers starting next month. others have said they are doing away with restrictions or easing rules on entry. in the u.k., as many as 43,000 people may have been wrongly told their coronavirus test was negative. the government said it was because of errors in a private laboratory. operations there have been suspended. amazon has up peeled and $8 million fine over data protection rules in the european union -- has appealed an $8 million fine over data protection rules in the european union. they denied there was a data breach. the largest in london offering money to recruit drivers. they are facing a shortage of drivers and trying to hire 1000 drivers after demand jumped in september. global news 24 hours a day, online and at quicktake on bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm leigh-ann gerrans. this is bloomberg. ♪ tom: the bloomberg surveillance. a one hour conversa

this is bloomberg area -- this is bloomberg. ♪ bloomberg. ♪ ritika: this is "bloomberg markets."enator bill haggerty of tennessee. this is bloomberg. ♪ let's check in on the bloomberg first word news. i'm ritika gupta. house speaker nancy pelosi will try again today to get a vote on that infrastructure bill that has been held up by a fight between moderate and progressive democrats over president biden's economic agenda. progressives have vowed to stall the bill if the senate doesn't vote first on an economic package worth $3.1 trillion. a treatment from merck reduces covid hospitalizations and deaths. they are seeking emergency authorization from u.s. regulators. shares rose by the most since 2009. supreme court justice brett kavanaugh has tested positive for covid-19. he has no symptoms and has been vaccinated since january. his wife and daughters tested negative on thursday. the court is scheduled to begin its nine month term on monday. 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.

well worth checking out another bloomberg. we facing this energy crisis right now at this point? >> you know, one of the things that puts the focus on is this energy transition is amplifying all these underlying issues in the market. we already have a very, very tight market for natural gas and for call because of covid-19 and that pushback. when the economies opened back up, there is enormous pent-up demand for electricity. at the same time, folks were not investing is they could have a natural gas and other upstream output. that all came to a head this year and it was exemplified and exacerbated by intermittent renewables. if you look at the u.k., if you look at other countries like the u.s., there is a lot more wind power, a lot more solar, and that creates a more instability in the system, but the main thing that has happened is there is huge demand and there isn't enough supply. on top of that, you have that instability. dani: given this instability that steven is describing, what should we expect over the next decade whe

is is bloomberg. ♪ dani: good morning from bloomberg's european headquarter. it is 6:30 a.m.ani burger. this is "bloomberg daybreak: europe." the senate extends the debt ceiling cap to december, averting a default for now. it stocks rally. investors eye the latest payroll data. it treasury yields tick higher. china adds to risk sentiment, returning to the market after a weeklong holiday. pboc pulls back support, draining cash from the banking system. will the fog of uncertainty be lifted in this market? that is a question -- the jobs number could help the equity rally, but what we need for it is stronger footing, and the sense inflation is getting under control. and indication supply chain pressures are easing. we need more time. does not seem like it will be fixed anytime soon, hence the volatility in these markets. let's get a quick check. msci asia-pacific open in terms of china's market being open after a weeklong holiday. that is supporting the sentiment. the asia pacific index up 0.4%. in the past 30 minutes, s&p futures into the red, but a sickly flat. -- but basically

this is bloomberg. ♪ laura: let's check in on them bloomberg first word news.e was sworn in as the new chancellor. he is a close ally of the departing conservative leader who resigned over a corruption scandal. he will retain his influence as leader of the people's party but faces criminal charges in at least two investigations. in germany, he will leave his post by january. he lost a close election last month. chancellor angela merkel's party will search for new leadership. british officials are concerned that a lack of pilots could slow down a rebound in flights to pre-pandemic levels according to "the telegraph" newspaper as doubled usual number of pilots retired. the u.k. recently eased entry rules for foreign travelers in a bid to boost global tourism. global news 24 hours a day. i am laura wright. this is bloomberg. alix: thanks so much. the top story in the u.k. are the comments from officials driving the surge in gilt yields. it started a few weeks ago when they doubled down on the possibility of an imminent rate hike on rising inflation risks. he tells

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this is bloomberg. ♪ it's moving day.hile her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. (announcer) the core is key to losing weight, getting back in shape, and feeling good. introducing the aero trainer, designed to strengthen your core, flatten your stomach, and relieve stress and back pain. it conforms to your body and increases muscle activity. abs, back, obliques, hips, and glutes. get incredible results in just five to ten minutes a day. the aero trainer supports over 500 pounds, and inflates and deflates in seconds. check it out at aerotrainer.com. that's a-e-r-o trainer.com. jonathan: it is payroll friday. this is "bloomberg surveillance." best week of gains going back to the end of au

this is bloomberg. ♪ dani: welcome back to "bloomberg daybreak: europe." i'm dani burger in london.he s&p 500 hit a record overnight but the mood soured after the cash session when the owner of the snapchat app tumbled on earnings outlook. this hurt other technology shares in late trading. joining us to discuss is janet mui, director of investment, brewin dolphin. there has been this idea tech was immune to supply chain issues, but snap saying in the report, because of these issues we are seeing companies not want to advertise products they do not have in stock. should there be more concerned about tech and being less immune to supply chain constraints than originally assumed? janet: good morning, thank you for having me. i think it does raise concern over the sector come about the tech sector is one of the better sectors to be positioned with this high inflation pressure. investors are right to be worried about inflation, but there are increasing signs this could last longer than what transitory means. there is a supply chain issue, if you look at the demand side of things, it rema

this is bloomberg. ♪ matt: this is "bloomberg markets ."ubscriber growth doubled from last year. it tepid fourth quarter outlook leaving shares drifting lower. joining us is dan morgan of synovus. what is your take on the earnings? we all knew squid game was a massive hit. how do you read it? dan: to be quite honest, i think this report was a little bit of a sigh of relief. if we look at netflix earlier in the year, the numbers were underwhelming. they came in, 4.4 million subscribers, 8.5 million in the fourth quarter, streams at 8.3, then the stock sold off. there were so many high expectations for netflix in the second half of the year. everyone expects the contents slate to be positive. there is a lot of high expectations on netflix. i think it was more -- i did not interpret the guidance in terms of earnings and revenues. they were within range. it was a surprising reaction. overall, i think it was a sigh of relief for people that are still bearish on netflix. amanda: even those that are bullish to have the caution evaluation. the most

this is bloomberg.hery: still ahead, why the chip shortage won't ease until the second half of next year. up next, state street reckons markets will remain choppy until there's better clarity on earnings and tapering. we discussed, just ahead. this is bloomberg. ♪ ♪ >> the problem is stagflation. that's the real risk. so many portfolios are massively exposed. there are ways to hedge that risk. >> when you look at what's going on with productivity, people aren't talking about it. productivity is booming. the idea that we don't have any gdp growth, at a time when consumers have this much excess savings, i don't see that. haidi: conflicting views on the risk of stagflation returning to the global economy. let's bring in marvin loh. when it comes to the possibility of a slowdown in growth but accelerating prices, where does that rank in terms of your investment concerns? marvin: ultimately, it's not a big concern for me. i'm not in the stagflation camp. i think in this modern economy that we have, if you wi

this is bloomberg. ♪ n gerrans. this is bloomberg. ♪ >> the day that u.s.longer invested in the fossil fuel industry, is the day that the fossil fuels are dead. jonathan: contact interview with bill winters, standard chartered ceo. i was distracted, mentor winters not wearing a tie. the style shifted. tom: he learned it from goldman sachs. jonathan: maybe that was the leading indicator there. tom: yeah, we got a firm lead. jonathan: it was the one thing i noticed. lisa: i was focused on what he had to say. jonathan: i'm sure you were. equity futures up 5 on the s&p, of more than .1%. it is a big morning. we have got jp morgan numbers in about three minutes' time, cpi at about 8:30 a.m. eastern time. let's get a basis point or two. in the commodity market, we talk about crude, $80.16, negative they are 6%. tom: let's review that right now, and certainly the view from washington, jon, is different from you and i here in new york and london. we quote west intermedia, brent crude. jonathan: we have a case study for this, tom, in virginia, the governor race. doe

this is "bloomberg technology." with an ongoing chip crisis and shrinking supply chain, can companies keep up? we are looking at the role of chipmakers. plus, high-tech diamonds. we are speaking with the ceo and founder of a company using it to trade it. and the growing digital design space. we would hear from the ceo of one company, on how the company has gone from an office to mainstream success. all that ahead. first, let us look at the movers and markets today. another day in the green. >> risk on. s&p 500 and the green. it was not big tech outperforming. one of the laggards was a biotech index, doing well earlier this week. today, underperform. if you needed evidence of a risk on day, money coming out of treasuries, six basis points. all the action was in the crypto market. it hasn't stopped yet. we start off with bloomberg reporting on the print side, saying bitcoin is wrong after bloomberg reported that a government agency is unlikely to block a bitcoin etf. that is why you're seeing the spike today. compare

this is bloomberg. ♪ romaine: we have been talking about the bloomberg invest global conference.e will have the final day tomorrow. it focuses on everything driving institutional investment strategies. we will continue the conversation with nir kaissar, bloomberg opinion columnist joining us now. how do you locate assets in a world where everything is expensive, in a world where you may get some sense of normalization of monetary policy, in a world where fiscal policy may aid or hinder the process? nir: i think it is tricky question in the first thing that has to happen is investors have to acknowledge it is going to be a lower -- going forward than in the past. if you look at u.s. assets in general, they are expensive. bonds, stocks, private assets. if you look at bonds around the world and credit in general around the world, the question is what you do? it makes sense to san going to diversify but the real danger is accepting not -- say i am going to diversify but the real danger is not -- if you lounge on expecting returns. you can take it or swing for the fences and i would e

bloomberg go.is bloomberg. ♪ ♪ yvonne: equity markets on the red here -- in the red here on this wednesday. walmart third quarter revenue fell short as cryptocurrency transactions declined. sales totaled $51 million, a 78% drop from the last quarter. the company posted a net loss of 1.3 billion dollars driven largely by equity compensation for employees lowering its ipo. the latest quarter is considered a test for robinhood with retail trading slowing after a busy first half. >> we are keeping a close eye on crypto as the regulatory landscape is increasingly uncertain. we are aiming to deliver great new crypto features for customers while being mindful of keeping our platform safe and introducing products that comply with legal and regulatory requirements. crypto is still very early and we are excited to be investing in our platform here. yvonne: china's tech giants are playing down links of non-fungible tokens, worried they may become the target of the next wave of regulation. in ft's are consider

this is bloomberg. matt: this is "bloomberg markets."aktree co-founder howard marks spoke with romaine bostick on day two of the milken institute global conference on how the pandemic has disrupted investing cycles. howard: in the usual circumstance, first of all, the cycle we have gone through in the last 18 months of the pandemic was not really a normal cycle. normal cycles, in my opinion, are the result of people becoming too optimistic and overshooting intrinsic value, fair value. and a correction that carries through to underpriced. and and then people get too pessimistic, and then you have a correction that overshoot and leads to excessive. excess and correction is not normal -- is the normal source of a cycle, but this cycle had nothing to do with the economy. this was like a meteor hitting the earth, an exogenous event, the pandemic, and than the government policies undertaken to correct it. so, our -- i saw an epidemiologist at the beginning of the pandemic, and he said we have three things, facts, analogies to prior experience,

this is bloomberg. >> welcome to bloomberg markets. matt: i'm mark miller. here are the top stories we are following from around the world. u.s. retail sales cover estimates. we will down the report that showed an upside surprise. we will cuss with tom mcgee. we will stay and talk to the senior vice president of peloton about the state of the high-end fitness company and the indoor fitness market and bitcoin etf poised for approval. getting ready to approve the first etf in a watershed moment for the cryptocurrency as it breaks $60,000 yet again. we have breaking news as well on johnson and johnson. the fda is backing the covid booster shot after at least two months. this was a unanimous decision by the fda and applies for people 18 years or older. the fda has backed the johnson & johnson booster shot after at least two months for those 18 years and older. jon: johnson & johnson shares higher today. investors have been in a buying mood. there is a live look at north american trading. focus has been on the earnings picture. pushing around questions around the

we welcome our bloomberg and bnn bloomberg audiences.are the top stories we are following for you from around the world. it is countdown to the u.s. child support. the ceo of paychex joins us to talk about those numbers. and it is a rough road ahead for airlines as reduced business travel stalls the industry's recovery. we will speak to the jetblue ceo. people say we will have christmas, i wonder how much christmas will cost? mark: we will be watching the way number for any inflationary pressures. for the markets today, that is not a preoccupation. basically a reversal of yesterday. the big tech groups led by communications are leading the market higher. real estate, utilities, we are seeing some weakness for utilities out there. overall, financials are strong today, and it is the biggest names of all. netflix is one too much, an analyst upgrade playing there. when we hear from a company like pepsi, they will be companies that will do well in this third quarter but that can manage their supply chain issues and their outlook will stay sol

this is bloomberg. ♪this is bloomberg. ♪ it's moving day.oing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. anna: welcome back to the european market open. 30 minutes into our trading day. here are the top stories. bank of england officials doubled our non-signals that a rate hike could be imminent. a surprise resignation,'s shock election results, in a major protest. the weekend saw turmoil across central and eastern europe. we bring you the details. european equities trade mixed. goldman sachs cuts its u.s. grade forecast, and oil pushes higher. commodity prices are also pushing higher. the ftse is fighting back from its commodities space. tom: we will see that reflected in the basic resources. you have brent's, wti above $80 a barr