this is bloomberg. ♪ s is bloomberg. ♪ romaine: call it the reopening trade, call it whatever you wantt it was back on fire today. you have the blowout jobs number friday, ism services data this morning. joe, hard to be bearish right now. joe: it is looking pretty good. there is all kind of negatives, but the data keeps coming in better-than-expected. services pmi, all-time high, fastest ever growth for the services industry. everyone going out to see, wha t is it, godzilla vs. kong? caroline: that is all it says. the amount of people who want to go to the big screen. joe: joining us now, peter coy. you had a story about all these businesses trying so hard to higher businesses of all they are doing is offering workers free pizza? come on. they have to try harder than that. peter: well, it not just free pizza. i spoke with a company which manufacturs doors and more, offering bonuses of up to $1500 at their factories. the pizza example is just getting people to come into the door. not even to apply but just talk to us. tell us what you are interested in, and maybe we will persuade you in

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

this is bloomberg. ♪ s bloomberg. ♪ ♪ haidi: there has been a blow to singapore as long telegraphed powerth the man expected to take over the reins stepping aside. let's get to our reporter. this is a surprise move. julia: yes, it certainly was. the finance minister has bowed out saying that singapore needs a younger leader to succeed the prime minister. in a letter addressed to the prime minister who turned 60 this year said that the pandemic meant that he would likely be too old to take over as prime minister which the crisis with it being completely over which the government estimates is five years from now. he said they need a leader that will rebuild singapore post-covid 19 but also the next phase. he is a careerist naval servant and politician, but he is also the finance minister. he has one a lot of allies. he did have a poor than expected showing in last year's election. heng making it clear the election is not the reason he is stepping aside and he said and a press conference that he does not want to take on any job that he cannot deliver. those who work with them knows that he i

this is bloomberg. ♪ s bloomberg. ♪ >> the bottom line is clear.ccinated, you can do more things more safely both outdoors and indoors. so for those who have not gotten the vaccination yet, especially if you are younger, or think you don't need it, this is another great reason to go get vaccinated. jonathan: that was the president of the united states. we will pick up on that in a moment. alongside tom keene, lisa abramowicz, i'm jonathan ferro. the price action looks like this on the s&p 500. equity futures up three points. yields higher by a couple of basis points. euro-dollar in 2/10 of 1%. 1.2067. let's talk about reaction of people yesterday from that address from the president. it's not the marketing material i think vaccinated america probably required yesterday. if you get vaccinated you don't have to wear a mask outdoors. i'm not sure that gets it done. tom: about three hours before the announcement i looked at the embargoed copy and went really? lauren sauer joins us. this goes back to the giant frank ramsey in the 1930's, the advent of g

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

this is bloomberg. ♪ s bloomberg. ♪ (announcer) do you want to reduce stress? shed pounds? stomach? do all that and more in just 10 minutes a day with aerotrainer, the total body fitness solution that uses its revolutionary ergonomic design to help you to maintain comfortable, correct form. that means better results in less time. you can do an uncomfortable, old-fashioned crunch or an aerotrainer super crunch. turn regular planks into turbo planks without getting down on the floor. and there are over 20 exercises to choose from. incredible for improving flexibility and perfect for enhancing yoga and pilates. and safe for all fitness levels. get gym results at home in just 10 minutes a day. no expensive machines, no expensive memberships. get off the floor with aerotrainer. go to aerotrainer.com to get yours now. haidi: good morning and welcome to daybreak australia. shery: good evening from new york, i'm shery ahn. haidi: jp morgan and goldman sachs smashing estimates. a landmark moment for crypto.

this is bloomberg. ♪ s bloomberg. ♪ shery: take a look at the day ahead.ing to watch the meeting between federal and state leaders here in australia on the vaccine rollout. prime minister scott morrison already said alternatives to the astrazeneca shot will be discussed as well as other way to speed up progress. haidi: on the m&a front, australian logistic assets. the biggest real estate deal in the country in five years. also hearing sources from macquarrie saying they are nearing an agreement to take -- that deal could come this week. let's get some morning calls beginning was sophie kamaruddin. take a look at the hang seng. it tech index has lost about a quarter of its value. is this a good buying opportunity or is there more pain ahead? sophie: more losses ahead, given the potential tightening of regulations for china's internet sector which has caused alibaba drop about 23% since october. tencent has lost about 18% in that time. jp morgan saying more uncertainty may act as a cap for some companies temporarily. and valuations also a concern with the ha

this is bloomberg. ♪ s is bloomberg. ♪ haidi: very good morning, we're counting down to asia's majorry: welcome to daybreak asia. our top stories this hour, a start to the week after jay powell/prospects of stronger growth and hirings in hong kong and japan are pointing higher.

this is bloomberg. ♪ s is bloomberg. ♪ rishaad: we are looking at taiwan semiconductor manufacturing with numbers a bit later. a strong first-quarter set of earnings. amid this global chip crunch. shares hit a record earlier this year after surging 60% in 2020. our next guest expects earnings to reach the top end of guidance. joining us is kirk yang. kirk, give uis a -- us a sense of what you are looking for when they come out with numbers. to say they are strong, would that be perhaps underplaying it? kirk: good morning. i am sorry, i am having some difficulty hearing your question. rishaad: kirk, i don't think you heard me properly. give us a sense of what you are looking for when these numbers come out. kirk: sorry. i cannot hear your question, but i am guessing you're asking about tsmc. we expect tsmc to announce strong results this afternoon. up 17% year on year with strong second-quarter guidance likely flat q on q. the most important thing i would look for is the company guidance. tsmc earlier announced they would announce -- with capex around $28 billion this year. we expect

. ♪ matt: for our audience -- jon: for our audience worldwide, this is "bloomberg surveillance." s futures, positive. the nasdaq had a bit of a rough time over the last couple days. down around 13 points, no drama. russell outperforming by little more than .1% after peaking in the middle of march. we pulled back by five percentage points since then, which into the bond market, that cyclical effort has stalled. 1.7 year -- 1.74 is where we peaked. right now, yields are up by a couple basis points. i think we get $24 billion of 30 year debt later as lisa indicated earlier in the program. a big conversation about inflation. what has happened to gold this year? inflation, inflation, cpi higher, higher, supply chain bottlenecks. gold on the year, down nine percentage points. bitcoin, record high, up 116% year to date. bank of america came out with their surveys this morning and asked participants about the survey if the equity market was in a bubble and 7% said yes. don't send the hate mail to me. send it to someone else. 74% of respondents in the new survey say bitcoin was in a bubble.

s. has now administered 150 million doses of coronavirus vaccines coast to coast, according to new numbers from bloomberg. the u. s is averaging 2.8 million doses per day. the u. s is on track to meet the biden administration goal of 200 million shots by the end of april. so far, 29% of americans have had at least one dose and more than 16. of americans are fully vaccinated new information tonight on a production problem affecting johnson and johnson's single dose vaccine. the company says that a batch that was made in baltimore didn't meet quality standards and can't be used. according to the new york times, there was a mix up with the vaccine ingredients several weeks ago, johnson and johnson hasn't said how many doses were lost, but the times is reporting that the number is about 15 million doses. the plant is operated by emergent by out solutions of maryland, which declined to comment that johnson and johnson doses that are currently in circulation were made in the netherlands and are not affected. we're following some breaking news right now out of the east bay, police in hayward's say detectives ar

s&p 500. this is bloomberg -- equities up 19 on the s&p 500. this is bloomberg. ♪ ritika: with the first word news, i'm ritika gupta. the biden adminstration is poised to impose sanctions on russia. russian individuals and entities will be punished for alleged misconduct, including efforts to disrupt the u.s. presidential election. the move could be announced today. in a phone call with vladimir putin, president biden warned that the u.s. would defend its interest. chair powell says the fed will probably scale back bond purchases before considering whether to raise interest rates. in a virtual event in washington, powell sketched out the fed's exit strategy and said rates are unlikely to be raised before 2022. president biden's critics say pulling troops out of afghanistan will obliterate american leverage over. . the taliban the president plans -- over the taliban. the president plans to pull out the final forces before the 20th anniversary of the 9/11 attack. secretary blinken made an unannounced visit to afghanistan to try to sell the decisio

this is bloomberg. ♪ s bloomberg. ♪ rishaad: the many other drove crypto assets to records as coinbase week turned on itself over the weekend, sending bitcoin tumbling the most since february. it plunged as much as 15%, days after reaching a record, and either dropping is much as 18% did -- 18%. the exception is the so-called old coin, those goingm -- dogecoin. our is here, tell us some of the potential factors. >> we had such a run-up in the coinbase listing, that is some of it. you have the come down on the weekend with quieter trading. there are often rumors swirling about extra regulation among there talk about u.s. treasury coming in and regulating more. a number of things. he also had a couple of exchange issues -- you also had a couple of exchange issues that were probably minor, but there were a number of things that could have contributed. haslinda: joanna, what was the impact on the wider crypto universe? joanna: you had all of these coins going up in advance of the coinbase listing. you look at the one-week performance and everything was doing really well, so this is a comeb

this is bloomberg. ♪ s bloomberg. ♪ wanna help kids get their homework done?ternet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. over the next 10 years, comcast is committing $1 billion to reach 50 million low-income americans with the tools and resources they need to be ready for anything. i hope you're ready. 'cause we are. ♪ >> this is daybreak: asia. i am vonnie quinn with the first word headlines. the indonesian president backing a push to expand the central bank's mandate, and he believes it should include with public support behind the legislative move which some analysts see as risking his independence. the indonesian president said that bank indonesia should also support sustainable growth and job creation. >> before rates were at the very high levels. now at 3.5%, we are happy. people are happy and most important thing is how we can improve demand and imp

bloomberg surveillance." up next, goldman sachs on deck. futures positive on the s&p. city this morning, good morning. this is bloomberg. ♪ ♪ >> we bounce back from the kind of down we had, you're just going to end up with inflation. >> i just don't think you can make a case for much higher rates. >> the market focus is on the destination, and the path to get there is somewhat rocky. >> i think for markets, it is 2022 inflation that is more important. >> will the fed fight inflation, contain inflation as it rises, as the cycle continues? >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. jonathan: jp morgan down, goldman sachs up next. good morning. this is "bloomberg surveillance ," live on bloomberg tv and radio. alongside tom keene li

we will do that next with john hopkins bloomberg school of public health. s&p 500, all-time highs. anced, too. this is bloomberg. ♪ >> michigan is grappling with a coronavirus surge that made it the worst place for covid in the u.s.. the state reported more than 8000 infections and 30 deaths on wednesday. it is now on pace to surpass its december record. on a per capita basis, michigan has the most coronavirus hospital patients in the nation. the u.k. will decide by early next month whether people can resume taking international holidays. countries will be rated according to their coronavirus risk. it is too early to say which countries will get the green light. in vienna's iran's chief negotiator says the sides are now focused on removing u.s. sanctions in a single step. the u.s. has not commented on that claim and there is no word on tehran his offering in return. the u.s. has ruled out unilaterally lifting sanctions in order to get iran to return to the 2015 agreement on nuclear richmond. bruno le maire says that what is on the table is a real tax revolution. he was talking about

s&p. this is "bloomberg." ♪ >> the baidu administration is poised to impose sanctions on russia. -- the bidendministration is poised to impose sanctions on russia. the move could be announced today in a phone call with vladimir putin. president biden ward the u.s. would defend its interest. fed chair jerome powell says probably will scale back the bond purchases considering whether to raise interest rates. in virtual event in washington, sketched out the fence and sued strategy -- the fed's exit strategy. he was regulators have extended the pause on the use of the johnson & johnson coronavirus vaccine. they concluded the meeting without a foot on the issue and will seek more data on a rare blood clotting side effect. jp morgan launching a multitrillion dollar green initiative. the bank has set a 2.5 trillion dollars in projects that combat climate change in advance sustainable development over the next 10 years including $1 trillion of financing for projects that offer clean energy sources. global news, 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalist

bloomberg surveillance. your equity market up seven points on the s&p. 1.5454%. yield" will be coming up on bloomberg tv at 1:00 eastern time. interesting to see the ruble gaining against the dollar off of that navalny headline. from new york, this is bloomberg. ♪ ♪ >> we still have the long-term structural forces that weigh against significant acceleration in growth. >> all eyes are really on what constitutes substantial progress right now. >> the markets are so overbought, enthusiasm is so high, that i think we are approaching that stall speed for a little while. >> the market is going to have to navigate this transition from incredible monetary accommodation to thinking about what removing some of that accommodation is ultimately going to look like. >> where policy stance is today needs to be seen through, but there are some tough decisions ahead. >> this

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

s&p. this is bloomberg. ♪ ♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow.ible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings. or visit and xfinity store to learn how our switch squad makes it easy to switch and save hundreds. (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) find out more at aerotrainer.com. that's aerotrainer.com. >> the fed has got to be a lot clearer both on the inflation side and the

s&p. this is bloomberg. chime) (text chime) (text chime) (sighs) (text chime) (chuckles) (text chime) it's the biggest week in television. watchathon week is your chance to finally watch shows you missed for free. now you get to talk about them with your friends, no matter what time it is. say "watchathon" into your voice remote and watch for free ♪ ♪ all week. look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, switch to xfinity mobile and get unlimited with 5g included for $30 on the nations fastest, most reliable network. ♪ >> we just can't catch up after going through a depression every bust with this health crisis to suddenly having a runaway bull market. >> the economic data is great. this is all reopening,

bloomberg. ♪ emily: s.a.p.'snit had a blowout quarter, bringing more customers to a newer suite of products. this as the private tech company embarks on a turnaround plan to ramp up competition with its rivals. shares hit a six-month high after the german company confirmed first-quarter preliminary results in its 2021 outlook, showing companies are beginning to pick up spending after pandemic cutbacks. i caught up with the ceo to get his forecast. >> we are forecasting the pickup accelerates. there will be more supplies to come in the next month. i expect we are actually almost back to normal. what we see in q1 but also in our plan, the business is accelerating, so we are confident about here -- year two. emily: catch that full interview online. shares of intel falling after hours after the world's biggest chipmaker reported allingham data center sales -- reported falling data center sales. ed ludlow joins us now. walk us through the numbers. ed: it is really pain in the data center business. revenue fell 20% fro

we will bring you the full interview on bloomberg radio, on the bloomberg terminal, and on bloomberg.com. we add 0.3% to the s. on bloomberg tv and radio, this is bloomberg. ritika: but the first word news, i'm ritika gupta. some sad breaking news this morning. he was known for his gruff public persona and for helping modernize the british monarchy. prince philip, the husband of queen elizabeth, died today at windsor castle. he was a penniless greek royal who married in 1947. prince philip always walked a step behind the queen at the thousands of public events they attended. on their 50th wedding anniversary, she said philip had been her strength. most coronavirus vaccines are going to the wealthiest countries. so far, 40% of the vaccines administered globally have gone to people and 27 wealthy nations. that represents 11% of the population. that is according to the bloomberg vaccine tracker. countries making up the least wealthy 11% have gotten just 1.6% of the vaccines. in other words, countries with the highest incomes are vaccinating 25 times faster than those with the lowest. more fallout from the archeg

this is "bloomberg surveillance ," and here is your price action. up about five points on the s&p 500. futures advancing a little more than 0.1%. a seven-year auction a little bit later. some supply in about five hour'' time. euro-dollar $1.2083. last week it was the ecb. this week it is the federal reserve the two day meeting kicks off today, concludes tomorrow. from a beautiful new york city, where the weather continues to warm up, i think it peaks tomorrow. we call it 27 degrees. what do you call that? tom: we call it transitory. jonathan: this is bloomberg. ritika: president biden's proposal to boost the capital gains tax would hit individuals earning $1 million and married couples jointly earning the same amount. the president is set to unveil his plan tomorrow. it would almost double the capital gains rate for some taxpayers. in china, bloomberg has learned that how wrong asset management has repaid an offer bond provided by the nations just state owned bank. it has more than $20 billion of offshore notes outstanding. general electric burned more cash than expected in the

bloomberg. i'm vonnie quinn. shery: the svernment has torn up the belt and road agreement with china, saying it's not in the countries national interest. beijing has reacted swiftly. let's get some analysis now from clive hamilton. great to have you with us. the reaction from the chinese embassy saying that this shows a lack of sincerity and the willingness to improve the relationship. can it be read as such? we knew this decision was probably likely to come. clive: i think it's a decision very consistent with the petition -- position the us trillion government has taken over the last three or four years. he's putting in place a range of measures to shore up australia's sovereignty in the face of beijing attempting to gain influence in australia. it was very protectable. we had to wait for how beijing will react materially. haidi: is the acquiescence to the agreements, as others have framed it, a propaganda gift? is this coercive diplomacy? something that is harmful foot -- for national interests. clive: the belt and road ini

bloomberg surveillance ." check on the price action this monday morning. s futures down a little bit, off by 2/10 of 1%. the nasdaq off by 1/3 of 1%. the russell down on the week, off by almost 0.5 of 1%. michael wilson talking about the underperformance of the russell compared to the s&p 500. since small caps pete last week, eight points of underperformance. the bond market, 2's, 10's, 30's, it is not just about cpi's tomorrow, it is about retail sales thursday. bank of america looking for 11.5% month on month for the month of march for retail sales. yields in just a little bit. yields basically unchanged on the session. on fx, euro-sterling. here is the chart, year-to-date. that trend lower is the vaccine trade. the u.k., stellar effort. europe, not so much. now things are starting to change, better numbers out of europe. really good numbers out of germany. is this an inflection point? and at the very end of the chart, are we starting to see year-sterling starting to inflect higher? -- euro sterling starting to inflect higher? tom: i triangulated it to u.s

bloomberg. ♪ >> what's the s&p on the year? bitcoin is up 100%. this week, ethereum had a monster move.seeing is money continuing to pour into the space. we just went over $2 trillion of wealth market cap in crypto. that's a pretty significant number. $140 trillion in u.s. wealth. $400 billion in global grout. half a percent of global wealth is in crypto. that's growing. it will be a percent by the end of the year. >> digital art. where do you see this going? what could these assets be used for? >> and fts are going to be with us for the rest of our lives. right? already on the blockchain, collectibles on the blockchain, ip on the blockchain is all happening. we are in the very early stages, so much that there's little mini bubbles that will pop up and down. don't miss the big picture. this is fundamentally going to change how we secure intellectual property from now and going forward. >> mi right to make the distinction that this is not necessarily a bitcoin boom, this is a crypto, a blockchain boom as well that you are following? >> 100%. galaxy digital was set up to participate in th

your s&p 500 down 1/10 of 1%. 10 year, 1.65 percent. on radio, on tv, this is "bloombergillance." ♪ ♪ jonathan: from new york city for our audience worldwide, live on tv and radio, this is "bloomberg surveillance." look out, london, for volume throughout the trading week as pubs reopening the city. you think i'm kidding, i'm not. s&p futures down by about 0.1%. nasdaq futures off by 0.2%. last week, up by almost 4% on the week. the russell was actually lower on the week. right now, the russell at -0.0 port for bit -- at -.04%. now it is about the data. what is the source of surprise this time around? the banks on wednesday, year-to-date app 23%, jp morgan. wells fargo up 34%. brilliant numbers so far, and participating in that bank rally, europe, too. vaccinations in europe really starting to improve. so rather is the relative bar for performance here asked so where is the relative bar for performance here -- where is the relative bar for performance here? tom: i would go to tony dwyer. do we see a recession out there? i don't think so. jonathan: i'm talking about relativ

s&p. this is bloomberg. ♪ (announcer) do you want to reduce stress? shed pounds?flatten your stomach? do all that and more in just 10 minutes a day with aerotrainer, the total body fitness solution that uses its revolutionary ergonomic design to help you to maintain comfortable, correct form. that means better results in less time. you can do an uncomfortable, old-fashioned crunch or an aerotrainer super crunch. turn regular planks into turbo planks without getting down on the floor. and there are over 20 exercises to choose from. incredible for improving flexibility and perfect for enhancing yoga and pilates. and safe for all fitness levels. get gym results at home in just 10 minutes a day. no expensive machines, no expensive memberships. get off the floor with aerotrainer. go to aerotrainer.com to get yours now. >> absolutely their decisions ahead. >> the fed has the upper hand. >> we still have long-term structural forces that weigh against significant acceleration and growth. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowi

s&p. on the nasdaq, up week, by .9%. this is "bloombergveillance ." ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. e re pounds? yto flaenst do all that in just 10 minutes a day with aerotrainer, the total body fitness solution that uses its revolutionary ergonomic design to help you maintain comfortable, correct form. that means better results in less time. and there are over 20 exercises to choose from. get gym results at home. no expensive machines, no expensive memberships. go to aerotrainer.com to get yours now. ♪ >> your kind of doorstep -- we are kind about the doorstep finally getting an idea of what this recovery looks like. >> in terms of the r

s&p. this is bloomberg. ritika: with the first word news, i'm ritika gupta.ay two of deliberations in the minneapolis murder trial that sparked a nationwide debate over police use of force. jerry is defying the fate on derek chauvin, the former police officer accused of killing a black man, george floyd, during an arrest. prosecutors say he violated department policy. chauvin's lawyer says the video does not tell the whole story. tobacco stocks plunged after a report that the biden adminstration is considering a move to lower the nicotine content of cigarettes to make them nonaddictive. marlborough's producer altria lost $6 billion in value yesterday. in congress, a rare show of bipartisan support for a piece of legislation. the house easily passed a bill that would give state authorized marijuana businesses easier access to banking services. under current federal law, banks that provide service to marijuana businesses can be penalized. doge driving highercoin -- doge coin driving higher sunday through monday, and at the same time, bitcoin fell more than 3%.

s&p 500, we are down 16 point. this is bloomberg>> day to have deliberations in the minneapolis murder trial that sparked a nationwide debate over police use of force. the jury is deciding the fate of derek chauvin, the police officer accused of killing george floyd. prosecutors say he violated department policy. in congress, a rare show of bipartisanship support for a piece of legislation. the house placed a build that would give safe authorized marijuana businesses. russia is said to have moved 150,000 troops to the border with ukraine, the largest buildup there ever. that is accord to that european union stop diplomatic. -- european union's top diplomat. >> i am concerned with the potential consequences of escalation for my country. we call on france and partners to stand by us in word and deed. >> the u.s. has warned airlines to exercise extreme caution when flying over the ukraine and russia. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 count

s&p 500. coming up on bloomberg tv, mohamed el-erian, bloomberg opinion, spirit this was lovely.n't it lovely. jonathan: uninterrupted two hours and 40 minutes. tk, i know you are watching, i miss you, i love you. lisa: cannot wait. jonathan: equities off all-time highs. this is bloomberg. ritika: with the first word news, i'm ritika gupta. in israel, a stampede edit u.s. religious festival earlier killed at least 44 people and left 150 hospitalized. one of the deadliest disasters in israel's history. the -- mostly ultra-orthodox jews. astrazeneca will ask for emergency authorization for its vaccine effort missed -- u.s. citizens may not see the astrazeneca vaccine in a clinics in the near term. the u.s. has announced it will share its entire supply of the vaccine with other countries. in florida, republicans have voted to impose a number of restrictions on voting. that adds to the national push by republican lawmakers to make it more difficult to vote. florida has been a crucial background state. donald trump won the state by more than 3% in november. nestle is expanding in a se

s&p 500. from new york, this is bloomberg. >> with the first word news, i'm ritika gupta.hauvin will learn his fate in eight weeks. that's when a judge will sentence him for the murder of george floyd. he was convicted of second-degree murder and a number of lesser charges. he could get decades in prison. the u.s. reaching agreement on taxing big companies -- big tech companies is getting bogged down. the new rules would apply to any large company that exceeds certain numbers of annual revenue profit margins but amazon is a low-margin tech giant. other countries are balking at the idea, that could mean it would not be covered by the tax agreement. shares of -- fell after the japanese company set up a buyout. the board had urged caution saying they might not need -- it might not lead to a deal. bain capital is considering taking a private. apple has unveiled a faster ipad pro. it's a more powerful version of its pricier tablet aimed at workers and students learning to office -- returning to offices and schools. global news 24 hours a day on air and on bloomberg quicktake, p

bloomberg surveillance." equities unchanged on the s&p 500. the nasdaq down by about 0.2%.ouncing back after losses of about 3% this week. speaking of not pretty, get to this. a chart of what is happened with the airline stocks over the last 10 days. 10 straight days of losses. brutal. those losses tally up to a loss of 11.6%. i think what this reveals is the struggle not domestically, but internationally. that is the focus over the last couple of days. we moved to concerns over india, brazil. the airlines are set to struggle just a little bit more. reopening is going to be sequential. in the bond market, lisa talked you through the supply. yields up today about a basis point on 30's. on the 10 year, about 1.57%. the cyclical rally has stalled. through march, we saw the same thing. small caps, 1.74% on the 10 year yield. since then, we have struggled to get any traction to push yields higher. tom: we are benumbed by 1.57%. that it is the greater move over the past five weeks. i think we are just kind of numb to it. jonathan: i agree with you. we agree on something. we are g

this is bloomberg. ♪ romaine: today, we are focused on the roaring reflation trade. s 500 heading another record high. i guess that means something to somebody. if you're looking at the estimates for s&p 500 earnings, it says there more to come. joe: in the end, there is still this disconnect because there is a long way back for the economy. the question for stocks is what did the 500 companies in the s&p 500, are they going to make a lot of money? analysts expect them to make a lot of money going into the future. you can talk about the disconnect or whatever, but the point is everyone expects these companies to be moneymaking machines. let's bring in to discuss this a bloomberg opinion columnist. a stunning chart. isn't that what it is all about? in the end, if these companies are going to mcmoran my money, hard to be bearish? -- going to make more and more money, hard to be bearish. >> i don't know if i can see anything more than that. joe: thanks for coming on. no. keep going. >> it looks like in early recovery. it has a broad reflation of stocks across the board. y

let's get to bloomberg's katie cry filled. -- griefeld. >> the s&p 500 ended a touch lower. the nasdaq 100 closing half a percent down. chips brought up the rear with the philly semiconductor index falling 0.8%. part of the reason we are seeing tech lag is because the bar is so high. rocketing higher since june, more so than the communication sector and broader s&p 500 index. that means that even though most tech companies have been beating estimates, they are not being rewarded in the stock market. the biggest winner so far this season are the small-cap stocks. russell 2000 companies have gained 0.9% on average the day after earnings. smaller companies surged 1.6% on average the next day. companies expected to benefit the most from the economy reopening, morhan big tech names. >> from small caps, let's go to semiconductors. they were lagging today. take a look at this behind me. four stocks higher on the day. of course not enough to bring all benchmark higher but this is important to look at. just reported earnings, a very bullish outlook, a massive forecast. up 3.3% in aft

bloomberg school of public health. first a quick check with what's going on in the markets. we have gone steadily lower throughout the day. the s&p down about .7%. the bloomberg dollar index continues to trend lower even after its worst week of the year last week. we have been seeing an inverse relationship in those two assets. but today, it's not showing up that way. it is working out that way at the pound. the gain in the pound is three standard deviations away from the average move over the last 30 days, just under $1.40. the ftse is down as well as a result. bitcoin down 12%. this number is from friday's closing price. you can see the big drop for bitcoin. many reasons being speculated right now, although the price is said to have gone up too far, too fast. let's get to china where the shanghai auto show is kicking off. electric auto vehicles and intelligent driving tech in the forefront. toyota is among the automakers pushing ahead and ev space unveiling in all electric suv concept car. you can see it here -- it is gorgeous. we are joined by bob carter, executive vice president of toyota motor in north america. what's the

this is "bloomberg daybreak: europe." u.s. futures lower after the s&p's all-time high.suisse shakes up its executive ranks after the ark egos blow up, suspending share buybacks and proposing a reduced dividend. boris johnson warns against complacency as he sets plans for a further gradual opening of england's economy. it's all about credit suisse this morning. 7:30 a.m. in switzerland. so far, no risk to the broader markets. manus: nope, not at all. let's quickly show our viewers what's going on with the market. asia lighter on its feet by 0.2%. you see china and hong kong come back into play. facebook made a record high. are we beginning to think a little bit about the topping this in these markets? europe just ignores everything, up 0.6%, playing catch-up to the u.s. on friday. oil is lord. the supply -- lower. the supply is coming back. discussions in vienna today. crude is up by 0.8%. goldman makes a tactical retreat on being short the dollar. . there is only one story, it is credit suisse. the ins and the outs. the chief of the investment bank is gone, larra warner

bloomberg surveillance ." i'm jonathan ferro, tom keene is taking an early weekend. futures are up on the s&p 500. confirmation this week that things are getting better. lisa: tom keene taking time to think about his cash fund position given the dynamism we have seen. is this as good as it gets is the key question underpinning why bond yields are so low, why they are going lower as we get these blowout numbers and as we get a sense of optimism around the world. jonathan: the numbers are just fantastic. consumers flushed with cash. have we ever started a recovery this way? that is the commentary got from the banks this week. we have never seen consumers come from a downturn in this shape. lisa: i love how they try to paint the idea of low consumer, low demand. they're saying this is a good thing, not a bad thing after j.p. morgan said something more negative. he was saying it is good to have an under leveraged consumer. this is a key question. will the loan demand continue? will it pick up or is this as good as it gets? will people sit on their hands as they wait for something better? jonathan: mor

s&p. this is bloomberg. ♪ ritika: with the first word news, i'm ritika gupta.nt biden is stepping up pandemic assistance to the rest of the world. the u.s. will share its entire supply of astrazeneca's coronavirus vaccine with other countries. plus, it is putting together an aid package for india. all of this represents a shift for president biden. he's been focusing on making sure americans are vaccinated first. president biden is staking a claim on economic issues ahead of the 2022 midterm elections. according to his advisors, the president's infrastructure and family support plan are an appeal to the disenfranchised white voters who put president trump in office. he will also be targeting independent suburban women. polls show there is some republican support for the biden proposal. -- is ramping up lobbying efforts in the u.s., trying to cultivate its relationship with president biden after it faced saudi led boycotts in the persian gulf. since january, qatar has hired seven prominent firms to do consulting work in washington. eli lilly has cut its forecast

i'm 23 on the s&p 500, off by 0.6% -- down 23 on the s&p 500, off by 0.6%. this is bloomberg♪ ritika: by september or october, president biden is likely to see some version of his $4 trillion economic plan passed in congress. the president has two major tasks. he has to keep various democratic factions from splintering the party and keep fending off republican attempts to portray the plan as radical. democrats can use senate rules to bypass republican opposition to most of the plan. the euro area economy slid into a double-dip recession at the start of the year. strict coronavirus lockdowns kept businesses closed and consumers were reluctant to spend. output in the 19 nation euro area was down 0.6% in the first quarter. it fell nearly three times that rate in germany. meanwhile, the u.s. posted annualized growth of 6.4%. in israel, a stampede at a jewish religious festival early today killed at least 44 people and left 150 hospitalized. it is one of the deadliest civilian disasters in israel's history. the crowd was estimated at 100,000 people, mostly ultra-orthodox jews. app

s and p. let's get your bloomberg first word news, let's go back to london and laura wright. trazeneca's vaccine in children has been paused while the u.k.'s drug regulator investigates where cases of blood clots in adults. moderna is rolling out the u.k.'s third vaccine option two weeks earlier than expected. after they find antibodies remain active in the shop for six months. >> whether a variant vaccine or the original, or some combination, we want to be one to two steps ahead of the buyers. -- ahead of the virus. laura: all americans over the age 18 will be eligible by april 19, two weeks earlier than the previous goal. biden also warns that while there has been progress, new variants are progressing quickly. the vaccine passport is not happening right now because of concerns about privacy. to run rejected a u.s. proposal for oil revenue in exchange for exemption of uranium. iran's lead negotiators that diplomats will meet again on friday. global news, 24 hours a day, on-air and at bloomberg quicktake, powered by more than 2,700 journalists and analysts in more than 120 co

s&p. we advanced 0.2%. heard on bloombergadio, seen on bloomberg tv, from a beautiful new york city, this is "bloomberg surveillance." ♪ karina: with the first word news, and karina mitchell. in russia, jailed opposition leader alexey navalny is ending his under strike -- his hunger strike. navalny gave up the hunger strike after he was allowed access to act ou -- to outside doctors. president biden is proposing a capital gains tax almost twice as high as what it is now. when you add in existing surtax on investment income, those earning $1 million or more could pay as much as 43.4%. the president once the increase to help pay for a raft of social spending that addresses longsta nding inequalities. bloomberg has learned the ecb will be deciding to slow there emerges the bond buying program in june. others want a more cautious approach. panasonic has agreed to buy american artificial intelligence software developer blue yonder. the price tag, 7.1 billion dollars. panasonic will fund the deal through cash and a bridge loan. the

s&p. this is bloomberg. ♪ ritika:ritika: with the first word news, i'm ritika gupta.zer's coronavirus vaccine remains highly effective after six months according to new long-term results. follow-up data from the final stage trial shows the vaccine was 91% effective in preventing symptomatic cases. the time period went from one week after the second dose to six months after. republicans in congress are opposed to the way president biden wants to pay for his $2.2 trillion interest rupture plan. the present -- trillion infrastructure plan. the president wants to raise the corporate tax and tax corporate earnings. opec is warning that oil demand remained fragile. secretary omar hyman barkindo -- secretary-general mohammed barkindo said, "we should not be out smelling the flowers yet." another blow to hong kong's beleaguered opposition. the city's so-called father of democracy martin lee and media mogul jimmy lai were convicted of conducting unauthorized protest. they will be sentenced next month. the verdict came shortly after china approved a plan that effectively ends o

equities all-time highs on the s&p, up 15, 0.4%. this is "bloombergurveillance. " ♪ ritika: with the first word news, i'm ritika gupta. a key democrat just made getting president biden's agenda through the senate more difficult. senator joe manchin of west virginia says he opposes scrapping the filibuster under any circumstance, writing in "the washington post." he says the law that requires 60 votes are most legislation is a critical to to represent less populous states. manchin effectively has a veto in the senate that is divided 50-50. the white house is considering whether to double the previous commitment to cut greenhouse gas emissions. the biden adminstration may propose to reduce emissions by 50% or more by the end of the decade. that would require rheumatic changes in the power of transportation and other sectors. a potential boycott of the winter olympics in beijing could be the next big battle with china. the u.s. isn't discussing any joint boycott with potential allies. still, china says any attempt by the u.s. to criticize china over huma

s&p 500. this is bloomberg. ♪ ritika: president biden is betting he can sell the american public on sweeping changein his speech before congress, the president called for higher taxes on the wealthy to find a massive investment in the nation's social security net. he is asking for trillions of dollars to stock up education and subsidies for working-class families. politics may call for the president abandon some of the more ambitious ideas. he underscored how much he has focused on china and his economy. he says he believes the u.s. and china can cooperate in some areas. he warned his asian ping -- xi j inping wants to make china the most cannot country in the world. the u.s. has warned indian -- the state department issued a level four travel advisory, its highest level. americans have been told not to travel or to leave as soon as it is safe. india says there are a record 379,000 covid cases in the last 24 hours. amazon is rolling out raises to more than 500,000 of its hourly workers a few months early. they will get pay hikes ranging from $.50 to three dollars an hour aimed at boosting the fast-

s&p 500. this is bloomberg surveillance. ♪ ritika: i'm ritika gupta with bloomberg first word news.losing arguments are set today in the case of derek chauvin, accused of killing george floyd. the killing of another black man by police in a minneapolis suburb has increasing anxiety over the potential for violent protests. the ceo of gamestop is stepping down. george sherman is ending his 10 year failed performance targets. gamestop has been a favorite of day traders, sending the price up, but the company missed sales and profit estimates in the latest quarter. coca-cola reported first-quarter sales that beat estimates. they sought early signs of recovery and demand, especially in areas of higher rates of coronavirus vaccinations. coke has stabilize from the slump blamed on the pandemic. harley davidson reported better than expected first-quarter profit. the company expects revenue at its most segmented area to grow faster than forecast. in russia, authorities decided to move alexey navalny to a prison hospital, after allies warned his health was failing. they have threatened the kre

the s&p 500 saw the lowest in five weeks after bloomberg reported president biden may double capital

s&p. we're up about 1%. this is bloomberg. ♪ >> that was a fedex facility in indianapolis.ight people were killed and at least five others were hospitalized. authorities say the shooter killed himself. the next operation is located near the indianapolis airport. it's not clear whether the shooter works there. in china, there's not been an economic rebound quite like this one. first g.d.p. rising 18.3% from a year ago. but you've got remember that's when the economy washed down in an attempt to control the coronavirus pandemic. so china tees economy improved only slightly from the four quarter of 2020. consumer spending has lagged but it picks up in the first quarter. in hong kong, media tycoon has been sentenced to 40 months in prison. he was convicted of attending two unauthorized protests and he was charged with more national security offenses. authorities have been pursuing cases against hong kong's most high profile dissidents. and the european union will not in the in the contract with astrazeneca and johnson & johnson. both vaccines have been linked to rare blood clot