ed: come with me into the bloomberg terminal and look at the chart.talk about the pain and certain pockets of this market. at the same time, we have seen five straight weeks of flows, a little drop off in that. what is the psychology here? what is driving that? john: i fear it's a lottery ticket by. you might as well shoot for the moon, you don't have much money anyway, the only great -- only way it will make a real difference is buying something that will rip higher. they have lots of publicity, people like to invest in something that is a little exciting. which obviously the stocks are, the likes of target and walmart aren't. i think that is a disconnect between the retail market and the broader institutions that are mostly behind what is going on today. ed: john, when i was a kid i was obsessed with dinosaurs. as you know i am a londoner, i , went to the national history museum, look at the skeletons. going across the bloomberg terminal i go into your bio i see the word brontosaurus. what are you talking about? john: i was also a fan of it in the m

. >> looking at the chart in the bloomberg terminal, evaluations on the nasdaq 100, we are getting nearer to the 10 year average on the price projected profit and to nearer pre-pandemic levels. do you sense opportunities in days like today? >> absolutely. a lot of the things that are warring the corporate scum a lot of the supply chain issues, lower profit margins, inflation, how would you solve it? you will solve it through technology. the name of the game is productivity. what will drive productivity? technology. i think there is tremendous opportunity happening right now. >> you are the former ceo of jp morgan private bank, your been in the market for a long time. the inflation, the outlook, supply chain issues, china, i could go on. what is driving the psychology of the market? >> i think it is inflation. for those of us that remember, and i do remember, once inflation starts it is hard to get under control. we have been blessed with this unbelievable investment climate over the last 10 years. i think we are trying to figure out how we are able to bring down inflation, level look -- w

we are on all of your bloomberg terminals and bloomberg devices.ss us there, the podcast on itunes and spotify. alix: the s&p flipped into positive territory. we are now flat on the day. coming up, how the plant-based meat industry is going to deal with inflation. we will talk to the ceo of impossible foods coming up next. this is bloomberg. ♪ at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect. >> this is bloomberg markets: european close. you're looking at a live shot of the principal room. this is bloomberg. keeping you up-to-date with news from around the world, here's the first world. there is a sign that beijing is strengthening energy ties with moscow as europe turns towards banning imports. china wants to replenish its strategic oil stockpiles with cheap crude from russia. the reserves are tapped during times of emergencies and disruptions. police have w

do not miss that on the bloomberg terminal and on tv and online. this is bloomberg. ♪ this?is supersonic wifi from xfinity. it's fast. like, ready-for- major-gig-speeds fast. like riding-a-cheetah fast. isn't that right, girl? whoa! it can connect hundreds of devices at once. [ in unison ] that's powerful. couldn't have said it better myself. and with three times the bandwidth, the gaming never has to end. slaying is our business. and business is good. unbeatable internet from xfinity. made to do anything so you can do anything. francine: welcome back to the open. 30 minutes into the european trading day. turkey's erdogan says he will not allow sweden to join nato. ministers are meeting today in brussels. elon musk has a lower offer price for twitter, sending shares flighting. the boe governor andrew bailey says costs could hold dire consequences. a further drop in u.k. real wages. tom, we are getting a lift on what's happening in china. tom: yes. the the tech stocks in china gaining 5% in the hong kong session. there is an expectation may the squeeze will start to ease. whe

you can watch it on the bloomberg terminal. more coming up next. is bloomberg. ♪ jon: this is "bloomberg markets." for what it is worth, $155 is the big number this hour. we have been talking about the price of oil under pressure but holding above $100 a barrel. for anyone filling up at the pump, this price more similar to what it feels like in terms of your overall gas bill. there was a great piece on the terminal surrounding this issue. a lot has to do with the refining realities right now. they are so busy and don't have enough capacity and that means what you pay at the pump feels higher than what they have been in wti. kriti: this is crucial because we are talking aware -- talking about where u.s. and the others can find more to make up the russian demand. but when you get it, can the refiners catch up and handle the additional supply? and that is important when we talk about what the average american feels at the pump. we caught up with the atlanta fed president and asked him about that. >> when i think about our policy, the first thing on my

he can watch the entire interview on your bloomberg terminal. it is well worth a watch.'s take a look at where equities are right now. we are heading into the close in europe. we are near session lows right now. u.s. equities are rolling over as well. the nasdaq is down by 2.82%. energy stocks are having a fairly ok day. the ftse 100 is outperforming on that narrative. the dax down by 1.19%. luxury stocks, technology stocks being hit fairly hard today. details to follow. the closes coming up next. this is bloomberg. -- close is coming up next. this is bloomberg. ♪ guy: stocks are wrapping up the here in europe. i think the target effect has been represented on both sides of the atlantic. u.s. stocks are down right now and european stocks have rolled over in sympathy. we are seeing technology stocks underperform as well. the dax is down by 1.3%. we are fading into the close. the reason why we are getting an opera performance from the london market is energy stocks. despite what is happening in the energy markets. energy stocks are doing ok. let's show you the stoxx 600, t

we've got those numbers just crossing the bloomberg terminal. e way because we have bloomberg daybreak middle east coming your way next next . . this? this is supersonic wifi from xfinity. it's fast. like, ready-for- major-gig-speeds fast. like riding-a-cheetah fast. isn't that right, girl? whoa! it can connect hundreds of devices at once. [ in unison ] that's powerful. couldn't have said it better myself. and with three times the bandwidth, the gaming never has to end. slaying is our business. and business is good. unbeatable internet from xfinity. made to do anything so you can do anything. >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees. >> the following is a paid presentation furnished by rare collectibles tv, llc. ♪ >> our country was founded on life, liberty, and the pursuit of happiness. representing this idealism is our american eagle. the bald eagle was chosen in 1782 to represent the united states because of its long life, majestic looks, and gre

go to the bloomberg terminal.emember, this is a speech that has the potential to be a watershed moment for vice president harris. a woman and person of color, the first to hold that office. she was vocal when it came to abortion rights during the campaign. do go watch that speech right now. we have more on the abortion issue just ahead, president biden calling for more pro-choice lawmakers to be elected to enact protections to roe v. wade into u.s. law. this is bloomberg. ♪ president biden: it goes far beyond if it becomes a law and if what is written is what remains. this was far beyond the concern of whether or not they have the right to choose. shery: president biden saying he will and try the protections of roe v. wade into u.s. law. let's get more from jodi schneider. we heard from vice president kamala harris just a while ago talking about how women's rights in america are under attack. jody: president biden did say it is quite a radical decision. it is the draft decision, if it comes to be. and he said that

dani: you can catch more of that exclusive interview on your bloomberg terminal. ng up, global wheat costs are poised to climb even h manus: this is bloomberg "daybreak: europe." these are the stories that set your agenda. dani: prepared for pain. jay powell gives one of his most hawkish speeches yet, saying he is ready to raise rates past neutral to tame inflation. the white house is set to block russia's ability to pay u.s. bondholders, pushing moscow to the ring of default. plus jamie dimon review. a nonbinding vote to reject his compensation plan. the front end of the curve getting lit up once again, courtesy of jay powell. manus: you turn to the ecb and you got the floating jumbo rate hikes of 15 basis points. i say it's much more about hikes by the end of this calendar year. the oil market, the u.s. easing sanctions on venezuela in one of the big stories. inventories have dropped by 5 million barrels. we will ask our next guest, through your paper ratcheting yesterday in the bond market. the position on the bank of america survey is short treasury 25%. quite

you can continue following what is happening with janet yellen's testimony on your bloomberg terminals bloomberg. ♪ >> european equities are off their lows. around 35 minutes to the close this thursday. we are still down. we are still down quite aggressively but certainly not like what we saw earlier in the session. the stoxx 600 for 24, spot six, down .7%, plenty of action elsewhere to focus on. the euro-dollar with a 1.03 handle, a critical level in terms of the fx community, now down .9% euro-dollar, a lot of talk about parity, not only for that currency but for the pound as well. volatility continues in the energy space as well. looking at what is happening with natural gas, the u.k. quote is up 25%, a quarter on the price. the volatility absolutely massive. the russians may be starting to restrict flows to the germans. this is problematic not only now but further down the road potentially as we get out of summer into autumn and winter. we will talk about where european equities go next with graham secker, morgan stanley's chief european equities strategist, a little cautious, let

this is just crossing the bloomberg terminal. i don't know what that means for equities, sutton -- certainly something we need to keep an eye on. tom: currently demo .4%, we had an update from the company, we spoke to the cfo, who thinks they are going to b12 position. siemens up by more than 5%, -- telefonica is essentially unchanged at this point. let's get back to that breaking headlines around finland in the decision it seems to join nato, i believe these are crossing now. this is breaking news. francine: let's go straight to maria tadeo, who is in germany covering the g7, were the ministers are meeting. this is significant, we don't know how vladimir putin will take and whether this brings us into a new cold war. >> now we hear from the finish president and prime minister, suggesting they will port -- support the binding application. from now until the end of june potentially, the different nato countries will explore the application and it could become official in the early summer. i think at this point, there's almost no q

come with me to the bloomberg terminal, let's call it right now and end it right here. the nasdaq 100 on a weekly basis is in the green. it's thursday. let's call it. in that way we smash seven straight weeks of decline and it looks like we have turned a corner, you can't hang your hat on one week but my goodness do we need some positivity. please, friday, don't work -- don't ruin it. the big part of the story back in the studio is earnings with nvidia missing estimates on the forecast with that stock up 5%. macy's, incredible, up 19%. lots of confidence in upgrading that outlook, people still want to buy fancy stuff. emily: how much do you think the m&a that we are seeing, the deals we are seeing in general is a signal that maybe, maybe we are turning a corner? ed: i joked about the chart but there is a feel-good factor, lots of activity with m&a in the tech sector. twitter is up, the big story of course here is muska george -- adjusting his financing package on margin components to bring in more equity financing. bullishness that the deal might happen. of course the o

i am looking at our f8 function on the bloomberg terminal, we are talking about covid lockdown restrictionsina, how much does the china story affect you overall? kurt: thanks for having me again this week. it is indeed a world in turmoil from a supply chain perspective good the latest addition is the situation in china. we do not see any demand impact in the second quarter. we do see risk on supply because some of our suppliers and covid lockdown so we put some into that for that. it is not only the demand side, we have seen under shipping in the markets so people try to get everything we are shipping and there is no demand. we guided it strong for the second quarter with 26% year-over-year growth including china. let's -- guy: let's talk about the under deliverance. what happens in the second half of the year? volkswagen expects to get more tips. is he going to get them? he will --kurt: he will get more. not only volkswagen. we talked about the second half of the year being bigger than the first half of the year, yet have to say the whole year for nxp, we will continue to be sold out which

you can read more on today's bloomberg take available on the bloomberg terminal and bloomberg.com. 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm ritika gupta. this is bloomberg. guy? guy: thank you very much indeed. moderna, blowing out the books. earnings blowing past expectations. the vaccine maker, a little bit more cautious when it comes to the guidance it has a set for the year. kailey and i sat down with the ceo. he is stephane bancel, and we ask him about that disconnect between the revenue numbers today and the guidance the company is a sticking with. stephane: what we have done for the pandemic is to be very precise to the market and investors. today the book of business at this time is 21 billion dollars year-over-year, and as we have said, covax has many vaccines for low income countries. there is an upside to those numbers, because these include zero sales from the u.s. government. as you can imagine, they're going to be boosters available in the fall. we are ready to go into the privat

dani: one of the most read stories on the bloomberg terminal. y is, has not been tweeting at all, but still, bitcoin above $30,000. that is doing ok this morning. manus: absolutely. "bloomberg markets: europe" is up next. this is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™ (announcer) enough with the calorie counting, carb cutting, diet fatigue, and stress. just taking one golo release capsule with three balanced meals a day has been clinically proven to repair metabolism, optimize insulin levels, and balance the hormones that make weight loss easy. release works with your body,

bloomberg terminal users can read more on those stores in our newsletter supply line. 's get you a quick check of the latest headlines. japanese -- at least two bond holders told bloomberg the consummate sent in plan payment to investors via a trustee. this is the first printable payment under an 18 month extension agreed to buy the note's holders. cvc is said to be in talks with brambles over a possible $14 billion buyout. the australian financial review reporting the private equity firm has not yet made a formal proposal and is working on funding the bid. that is it for daybreak australia. daybreak asia is next. this is bloomberg. ♪ what's it like having xfinity internet? it's beyond gig-speed fast. so gaming with your niece, has never felt more intense. hey what does this button do? no, don't! we're talking supersonic wi-fi. three times the bandwidth and the power to connect hundreds of devices at once. that's powerful. couldn't said it better myself. you just did. unbeatable internet from xfinity. made to do anything so you can do anything. whoa.

you can catch more of that conversation on your bloomberg terminal online. people half an hour tomorrow at 6:30 p.m. u.k. time. let's into the first word news with laura wright. laura: jay powell says the fed will keep raising interest rates until it sees clear evidence inflation is cooling. powell made his most hawkish remarks yet as a wall street journal a event saying he will not hesitate to push rates past neutral. he stressed that price stability is the top priority. >> inflation is coming down, that's what we need to see. we will be watching for that. if that involves moving past broadly understood levels of neutral, we won't hesitate to do that. honestly, we will go until we feel like we are in a place where we can say yes, financial conditions are in an appropriate place. laura: an aid package for india as it looks too deepen securities size and reduce dependence on russian arms. the package could include weapons financing up half $1 billion. that would make india one of the largest recipients of u.s. military aid, behind israel and egypt. the wall s

take a look at the vix in the bloomberg terminal. we have had it in this wide range, a very predictable range. at this point we have lower highs coming back into the range, and it suggests if the vix does what it did this year, it could come down to 20 or so, a bit of a reprieve for stocks with all of the volatility we have seen in the last few weeks. guy: it would be a whippy few sessions. abigail doolittle bringing us the latest on the markets. now let's talk about what is happening over the next 24 hours. today, the president will be meeting with mario draghi, the italian prime minister. that will take place at 2:00 p.m. eastern time. we have earnings from coinbase. and we also have more on the ukrainian aid bill. the u.s. senate is looking at the fed governor nomination of lisa cook. alix: tomorrow, china, u.s. and germany, those will be the things to pay attention to. yes, there will be earnings. but they cpi numbers will be front and center. that will wrap it up for us on television. coming up, live comments from president bide

some breaking news crossing the bloomberg terminal.ert status in new york city has now been raised to high. are we about to get back into an environment where masks are required? what is the trajectory, what kind of numbers will we be looking at in 2, 4, 6 weeks time. we will look at that later in the next hour. he is the ceo, they crunch the covid numbers prayed we will find out what he is seeing. this is bloomberg. ♪ >> time for the bloomberg business flash. home depot boosted its outlook for the year after a surprise increase in third-quarter revenue. 2.2% continued strong demand for home improvement supplies despite rising interest rates. customer transactions fell but the average ticket increased. it could be one of the world biggest listings this year. saudi aramco is considering an initial public offering of its trading arm amid a boom -- boone in oil prices. photo giant yeti -- getty images, they have signed a multiyear deal with candy digital. the companies will develop a range of nft products for almost 500 -- from their most

we have more about those stories in a newsletter on the bloomberg terminal.haad: let's look at headlines. jd.com better than anticipated figures for revenue growth. 18% increase. that year on year number was the slows quarterly rise since the company went public. it is about the covid lockdowns and china, weighing on consumer spending, as we are waiting for those sales numbers, just over $30.5 billion in the first quarter, beating the average analyst estimate of $35 billion. sea game sales top estimates. that, as its online activity retreats. gaming is a profitable division. just over $1.1 billion, against forecast of $930 million. the e-commerce business did underperform. haslinda: let's look at the tech stocks on the golden dragon index. tech under pressure. on the back of china talking about the further spread of covid-19 cases outside of shanghai, even as shanghai is emerging from that lockdown, and despite what was said earlier about an easing of the lockdown in china. tencent down 2.4%, do to report today. alibaba and jd.com also under pressure. this is

kriti: you can watch the full interview with francine lacqua on your bloomberg terminal.ascinating what we are talking about here. quickly, the narrative is gone from higher places -- prices, inflation, to demand destruction, and the entire economy, the global economy, into turmoil. jon: it's every country. in canada, we got a decade high for inflation figures. if you look at store-bought foods, stuff you get at the grocery store, prices are up 9.7 cents on average for the last year, and just getting back to the market story, what have we seen in the markets today? we have seen a target, and the walmart stock breakdown as these major players are reminding us of the inflationary pressures, and even in the canadian market today, a lot of these retail stocks that have been hanging in are seeing the same kind of deterioration on these concerns. kriti: were talking about developing economies, but even in emerging markets, food and commodity inflation was way before we were sticking to the vocabulary of transitory inflation. here we are, looking a persistent inflation, and that

annmarie: we still have russia delivering oil to china or do i believe there is a story out on the bloomberg terminal than $6 billion worth of crude the chinese are buying from russia and india, which is an ally of the united states, these two countries are still buying russian oil at the same time the rest of the world has been shunning it. it is difficult line for the administration to walk while they want penalties against the kremlin, it is hard to want them see all of russian oil come off at the market, even if they don't say it, because higher oil prices mean it will trickle down to higher gasoline costs for consumers. there been -- biggest domestic challenge is gasoline and groceries and the like. lisa: the talk of a meeting with mohammed bin salaam and president biden, this isn't really an oil story, this is a refined goods story, gasoline story. can you bridge that gap in terms of what that can do, even if they get more oil and bring the price of crude lower? annmarie: it was put yesterday when you look at spare capacity in crude oil, that goes down to the kingdom. saudi arabia has it and th

one of the best charts on the bloomberg terminal.much information on this chart and was introduced to me many years ago. that's the amazon market cap. in white we are looking at the walmart market cap. it was interesting to see that amazon market cap was much more than walmarts even though walmart sales in white dwarfed that of amazon. walmart sales above 100 billion dollars, amazon below $50 billion. we see here what this has been, walmart basically flatlining but it's so interesting now amazon sales are almost where walmart sales are on a quarterly basis. today even though walmart has more sales than amazon we will see walmart is in a world of pain. they missed earnings. i know you were talking about the idea there some operational issues there ran rising cost to inflation. home depot trying to make up its mind. down right now flat. >> you don't often get to talk about walmart and execution in the same sentence. thank you very much, indeed nice job. let's take a deeper dive into the walmart results. we are joined by oppenheimer sen

i'm reading this off the bloomberg terminal on my iphone. this revolutionized wall street. bitdog down to $29,000. how my doing -- how i doing, lisa? what am i doing this morning before i dash to the airport? lisa: 8:30 am, we get u.s. initial jobless claims. even brian moynihan a bank of america said you've got to watch jobless claims. you have to watch whether the labor market is loosening. we have seen a little bit of a shift with an increase in claims, but it is infinitesimal. this to me could be the harbinger of more potential pain in the housing market. we have seen it so far in the volume of sales. we have not seen it in the prices. u.s. pending home sales for april will come out. we saw new home sales on tuesday come in well below expectations. do you see a repeat of that kind of feeling? as 1:00 p.m. you will be on the edge of your seat, $42 billion and seven your notes sold by the treasury department. i'm interested in this because this is always a disaster auction. i want to see who comes in and buys it, in particular the japanese investor base. tom: i will be do

check that on bloomberg.com and the bloomberg terminal. we feature for 10th of 1% on the s&p, and downs .6%. yields are higher by five basis points on the 10 year. was call it 0.68. euro to dollar is .38%. 2.2% for the year. 1.5% for next year. inflation, 7% this year, 2.9% next year. that is not a recession, but they say the buffers are small and the risk is large. it will stop the s&p from hiking. >> how do you get from seven to two point ask. jonathan: they just watched what the bank of england did yesterday, and i imagine they are incredibly nervous that they are about to experience the same thing. lisa: is there any way to avoid it? if they don't give an honest assessment, will it do its own thing, anyway? jonathan: the only way forward according to the ecb is to raise interest rates. a big meeting next month. tom: there are some interesting conversations, and they are diving into the land of the fed hawks. we will have to see what is out there making first appearances after their accidents, and we have to see. right now, a different

so, continue to follow mark gurman on the bloomberg terminal.are the innovations coming and how will that impact consumer sentiment for the step the year outside the macro picture? kriti: tom, to build on ed's point on innovation, we heard apple is about to rip -- to retire is ipod touch. i have fond memories of my first apple product, but i have to ask about this design cycle. does that mean as you retire the ipod touch, are there going to be a speeding up of the design cycle or a slowing down? tom: the good news is apple has a regular cadence of new product announcements. gives them almost -- it gives them an opportunity to communicate they are continuing to innovate. for example, there should be an iphone 14 this year. a new ipad, laptops, things of that generation. under think the innovation will stop, but i also do share some fond memories of my old macs, so i share your pain. jon: it really hits home, but luckily i still have it. maybe i can sell it one day as a collectors item. tom forte from da davidson and bloomberg's ed ludlow. thank y

bloomberg terminal, it's got me thinking a lot. a green bag, an update for that nasdaq 500, s&p 500. a prolonged time of settling, we go straight to valuations. clear the posts, think about the basket and then you have apple, one of the biggies, trading at a price projected at earnings above pre-pandemic levels per to the rest of tech looks cheap, so the question going forward now that the withdrawing stimulus in outlook, what are the four -- where is the floor of the valuations for tech stocks. very quickly, some movers for utility grid what we have to discuss good walmart, dropping the most since 1987. i was not around 1987, but that is a big number, down 11.4%. of course downgrading its forecast for the year in the face of rising inflation. as i say, u.s. listed chinese tech stocks doing well on the day and twitter up to a half percent after a scoop reported by myself and kurt wagner that there are more departures of the company ahead of an elon musk takeover. taylor: love it. thank you so much. for keeping us up-to-date on the

bloomberg terminal users can read more about those stories on and i trade nl.mpact of the war in ukraine on critical supplies is being exacerbated by extreme weather events. a significant amount of raw materials needed for man-made fertilizers are being cut off due to the war while summer storms in the u.s. have disrupted production. the man in india is -- demand in india is being made worse by heat. the power crisis could worsen in the coming months. let's bring in our reporter on how these issues are impacting global policy. let's talk a little about south asia because it is being hit hard by all of these problems. any hope for a quick resolution here? >> i wish i could be optimistic. unfortunately, it is more likely we will see these challenges geographically expand as well as the severity getting worse. we have already seen japan's operator raise concerns about peak summer demand. even in the u.s., this week in texas there are concerns about demand being higher due to hotter temperatures. if you look at -- if you look back at what is happening, weather even

bloomberg terminal users can read more about those stories. to report earnings later, investors will be watching whether the world's biggest carmaker can sustain growth. let's bring in our japan transport reporter. what results are we expecting? reporter: for the recently ended year that wrapped up in march, we are expecting toyota to comfortably beat its previous profit guidance. we see two factors. the first is consistently strong sales. unit sales for the recently ended years was toyota's second-highest ever turn out for that period. it is seeing strong demand for cars, and in recent months, it's benefited from the pretty historic decline in the yen so with that currency hitting 20 year lows, those two factors combine to put toyota and a strong place for the recently ended fiscal year. haidi: if you look further out, what about the headwinds? are they set to carry forward? river: the story does get a lot more challenging going forward because on the positive end, there is the tailwinds of the yen and strong demand, but toyota is facing a lo

you can get more from this interview on tv available to all bloomberg terminal subscribers. .m. tokyo time here on bloomberg television. ♪ haidi: chinese video stream or says it is open to prioritize profitability over market share. the company has lost 17% since its 28 teen debut. the ceo and founder spoke exclusively with bloomberg about the change in strategy. >> shaky market growth should not be a strategic priority anymore because this industry has developed into a relatively mature one that has had a slower growth strange -- growth stage. >> much room do you see to raise prices again additionally? >> price hike potential still exist whether we will raise the price this year, we will see how markets react. we don't have a clear plan yet. >> where do you see advertising revenue going the rest of the year and where do you see the economy going? >> for the second quarter, almost entire shanghai is under lockdown. for those who understand brand advertisement industry, they know half of china's print advertisement marketing is based in shanghai so we will see bigger negative

you can get that at dayb on your terminal and on bloomberg and the bloomberg anywhere app.hose settings so you get the industries in the assets that matter to you. this is bloomberg. ♪ another crazy day? of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business, with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want—your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with unbeatable business solutions from comcast business. powering possibilities™. >> ken griffin says he's out of step with many investors because he doesn't see a recession happening in the next couple of quarters. he told the structure conference in new york that key market themes are well-known right now. there -- differentiation is key. >> markets are a wash of opportunity and everything we invest. every day there is something to do. there is nothing to do today. it comes

the data on the bloomberg terminal dating back to 2002, industrial production is only -- has only contracted once since 2002 for a monthly number and that was march 2020. haidi: we have been looking at these previously unseen remarks from december. so much has happened between now and then. what did they tell us about the policy parity? stephen: it is like unearthing a time capsule. of course, december 2021 seems like such a long time ago. but you can get from this statement or this speech which is only now being published by -- a magazine laying out xi jinping's thoughts, that outlines the government's economic priority that will then be laid out at the national people's congress. and this runs like a long litany of the problems that are now exacerbated the chinese economy, whether it is the property crackdown, the irrational expansion of capital that has decimated the big technology companies. essentially xi jinping said, blind expansion of enterprises like alibaba and the like, financial fraud, corruption and at the very end, slowdown in growth. well, now that we have seen a priorities th

bloomberg terminal users can read more about those storys in our newsletters.the key supply issues is china's covid lockdown. they punish curves that confine millions of people to their homes for weeks. here are two bloomberg reporters that have been coping. >> this is first time living outside in 53 days. it's exciting to be confined to my compound for such a long time. you can see tell people around me are also very excited. the city is tend actively unwaiverring on a punish lockdown that has combined millions of homes of three weeks. a milestone needed to start online. but many restrictions remay i had to get a pass to live my compound and can only do so by bike or by foot for four hours at a time every few day. behind me is a long line of people trying to get to a supermarket. it's not easy to buy groceries. so this is a great opportunity to get something. i'm near the shanghai district. it's not a ghost town. but you can tell it's really quiet. >> this is allen. i'm in shanghai, but i'm not as lucky as charlie. i'm still on lock down even then if i , do i'

bloomberg terminal users can read more about these stories.k of america is boosting pay for tens of thousands of u.s. employees that are less than $100,000 and adding reimbursements for purchases. ceo brian moynihan told bloomberg it is key for maintaining a healthy workforce. >> our turnover was probably near 20, it came down to 15. got it down to 12 right before the pandemic. it fell to six in the pandemic, we said on day one that everybody keeps their job. we kept everybody on. we went back up to 12 and then 13. we announced a wage increase for all employees under $100,000, which is a good number of people. based on years of service, were trying to reward loyalty and career building. it keeps going up. but also, paying $10,000 of tuition reimbursement in advance for people. the health-care benefits, the mental health benefits, we announced $4000 to buy an electric vehicle. the key to all this is, to your point, stabilize the employee base. when you have 25,000 branches, having people work for 15 or 20 years on a career path is a lot more ef

can i bring up a bloomberg terminal -- we will go into terminal 6185. see how gross margins have been squeezed over this time period at alibaba. that is not the chart. you can see how the competition, the blue line there is tdb beating alibaba on the growth margin front as alibaba's margins have come down. the other headwinds are going to be the covid situation in china where retail sales plummeted in april. this current quarter could be worst in the first quarter because alibaba has refused to give a current fiscal year revenue outlook. this is where it ceo weighed in, he says in april, there's been significant pressure on alibaba's business. he is seeing improvement in the covid situation in shanghai, but considering the risks and uncertainties arising from covid-19, which we are not able to control and are difficult for us to predict, we believe it is prudent at this time not to give financial guidance. one side note, ant group contributed $1.1 billion to alibaba's earnings. ant reported its report card a month later than alibaba. this report card wa

go to our trade analysis, for bloomberg terminal users who can read more about those stories.getting the shanghai covid numbers reporting no new covid cases outside of quarantine. i believe this is the second day or so we continue to see restrictions being eased across shanghai. they are reporting a new covid-19 death adding 338 local cases as well. let's turn to a chinese e-commerce company expected to post it second-quarter of single digit revenue growth as lockdowns continue to pressure the companies. let's bring in stephen engle in hong kong. very important to watch this company, because it gives us a sense of consumer demand during all of these outbreaks of covid, what is the consensus here? >> on the regulatory front this is a company that has been beaten down, battered, and fried. we had it whittled down because of monopoly investigations and dismantling the ant ipo and its fintech arm, but then along came covid and it hammered their court indicator revenue generator. core revenue is expected to be 200 billion yuan. 167 of that is in core commerce revenue. when you have

you can read more about it on the bloomberg charitable -- terminal or on bloomberg.com. ong kong formally announcing john lee as their next leader. we will speak with a member of his cabinet, next. this is bloomberg. ♪ so many people are overweight now, and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's release from golo. it naturally helps reverse insulin resistance, stops sugar cravings, and releases stubborn fat all while controlling stress and emotional eating. at last, a diet pill that actually works. go to golo.com to get yours. shery: breaking pmi numbers out of japan. we are getting new services number. the final reading for the month of april coming in at 50.7 which is slightly higher than the advanced estimate of 50.5. when it comes to the composite number we are talking about staying in expansionary territory. also coming in slightly higher at the advanced number at 51.1. the ma

terminal. this is bloomberg. >> looking at crypto assets.itcoin is coming off of its worst day since january. either at one point slumping. the brazil central bank the chili central bank and others around the world hiking rates. we continue to see that perhaps the tightening cycle is in full place. take a look at currencies trading because even though the boe did hike rates, we saw the pound losing ground. right now, still under a little bit of pressure. gilt yields also declining because investors are turning their focus to the forecast of a potential recession in 2023 with governor bailey saying the u.k. economy is already slowing because of the squeeze on consumer spending. aussie dollar right now unchanged. it just saw its largest decline since march 2020. we also had the best day in 11 years, but we had some disappointing pmi numbers. we are watching the japanese yen as well as the equity markets come back online. >> look at the day ahead for australia and new zealand. watching australia's market reaction after the selloff. set to relea

there was a very interesting blog post on the bloomberg terminal and on the website talking about bitcoinange bound. looking at what's ahead this week, today eu leaders kick off a two-week meeting in brussels with the war on ukraine on the agenda. also tuesday we get the latest messaging on consumer confidence in a virtual opec meeting on thursday and u.s. jobs day on friday. let's get more on the markets with danielle morris. -- daniel morris. thanks for joining us. a lot going on with opec plus and the price of oil with u.s. jobs data. the markets are a little bit optimistic right now in china. two optimistic? dan: we like to be optimistic after everything we have gone through over the last six months and we are probably still a bit cautious. it's good news and we still think we will get to a living with covid situation in china but not right away. the big concern that we have is that even though infection rates have been paul -- falling, if you look at the vaccination rates they are still pretty low and you have this fear that if they do reduce restrictions, infection rates go back up

bloomberg. if you missed any part of that conversation, coutu tv , our interactive -- go to tv , our interactive tv function. send us instant messages during our show for terminaly. this is bloomberg. ♪ >> here's a check of the latest headlines. money grab getting set to partner with a crypto firm to allow customers to convert stablecoins to hard currency. the service firm up over she asked ceo says a partnership with stellar blockchain bridges the two worlds. the collapse of stablecoin has raised scrutiny on the crypto space. india has oil and natural gas profit rose 32% in the fourth quarter but missed estimates. an increase in government levies aiding gains from restoring oil prices after russia's invasion of ukraine, that income increased to $1.1 billion in the three months ending march from 860 $7 billion a year earlier. top gun maverick topped the memorial day weekend box office taking in $124 million on friday through sunday ticket sales in the u.s. and canada. the movie gay feeders one of the biggest box office debuts since the start of the pandemic, a rare move for a non-superhero film. the movie is unlikely to be released in china, diminishing its glo

bloomberg technology. we will be right back here tomorrow. i hear emily chang may grace the building. also, make sure to check out our new podcast. you can find it on the terminale, spotify, and i heart. this is bloomberg. ♪ another crazy day? of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business, with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want—your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with unbeatable business solutions from comcast business. powering possibilities™.

bloomberg technology. we will be right back here tomorrow. i hear emily chang may grace the building. also, make sure to check out our new podcast. you can find it on the terminali heart. this is bloomberg. ♪ at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect. as a business owner, your bottom line so you can enjoy more of...this. is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™ so many people are overweight now, and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't add

bloomberg subscribers go to dayb on the terminal. n the mobile and the bloomberg anywhere ad. you could customize it as well. hit the news on the indices and places you care about. this is bloomberg. ♪ >> i support tightening policies by another 50 basis points for several meetings. in particular, i am not taking 50 basis point hikes off the table until i see inflation coming down closer to 2%. david: that was christopher waller talking us through what they plan to do and would still on the table, cash treasuries resuming trade, as you can see, we were up tends on the five years. just to be that up over two years. with that being said, general direction is on the way up. these last few days they have come up the top in mid-may, so we will see a happens when it comes to the shape of the curve and overall trend when it comes to yields. its top gun, no pun intended. 10 on the short-term and that teeters out as you look towards log data treasury. point 3022% on the 30 year yield. haidi: some of the latest business flash headlines. emergin

check out our new podcast, you can find it on the terminal as well as online. this is bloombergy mobile runs on america's most reliable 5g network, but for up to half the price of verizon so you have more money for more stuff. this phone? fewer groceries. this phone? more groceries! this phone? fewer concert tickets. this phone? more concert tickets. and not just for my shows. switch to xfinity mobile for half the price of verizon. new and existing customers get amazing value with our everyday pricing. switch today. so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now, there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress and emotional eating, and losing weight. go to golo.com and see how golo can change your life. that's g-o-l-o.com. >> good morning.

terminal subscribers can go to dayb and it's also available on mobile in the bloomberg anywherepp. you can customize your settings so you only get the news on industries and assets you care about. this is bloomberg. ♪ >> auto parts supplier marelli has selected the current owner as its sponsor in order to restructure the business. they are looking to cancel about $3.5 billion in debt. will be watching the energy sector after a japanese court ruled in favor of an antinuclear citizens group in hokkaido. it agreed the nuclear plant is not safe to operate due to earthquake and tsunami risks. moving onto south korea, the president's conservative party is expected to keep control of the mayor's office is in seoul in his first election test just three weeks or so after he took office plus the countries trade data for may are set to be released in around 45 minutes. haidi. haidi: special was adduced to the -- special visitors to the white house. we saw the korean super pop, kapok group, bts visiting the white house at president biden's invitation to draw attention to and provide a rally

terminal subscribers can get caught up at jb go. this is bloomberg♪ haidi: here is a check of the business headlines. the fastest growth in corporate loans since 2008, cash earnings climbed to 2.5 billion dollars in the month. it topped average estimates. the bank will pay a dividend of 73 australian cents per share. uber has a positive earnings outlook, capitalizing on robust right demand. focusing on product changes to curb driver shortages. this comes after first quarter revenue rose to $6.9 billion. earnings came in at 16 $9 million above the average estimate. -- 169 million dollars, above the average estimate. increased spending on driver incentive, shares are down 30% in new york, the average drop in a single session. the stock is down more than 70% from the record high. riverfront investment group has reduced its exposure to financials despite the rising rate environment. this is bloomberg. ♪ >> businesses are in good shape. the fed will have to raise rates. i wish them the best. they were a little late, but two years ago we had 15% unemployme

n-terminal subscribers can get it at dayb this is bloomberg. ♪ >> taking a look at the day of ahead australian new zealand. the rba decision, the governor expected to raise rates for the first time since 2010. new zealand's government will be setting a cap for budget surpluses and -- higher than previous investments and allows a greater investment in infrastructure. an 11% strake in australia's biggest electricity generator agl. the company's largest shareholder said it would vote against a demerger. shery: here's a quick check out the latest business flash headlines. elon musk is said to be in talks with wealthy individuals about taking on more finance in the purchase of twitter. he's wooing the likes of apollo and aries. musk's sold tesla shares for a $12.5 million loan. citigroup's london trading debts is believed to behind -- be behind the flash crash in european stocks caused by a sudden cellophane swedish equities. the selling western goodbye along erroneous transaction that caused the index to plunge 88% in fiv minutese that left the m ain european indexes losing 3% and wipin

tom: when you look at fed policy and the idea of the bloomberg financial conditions index tightening, what michael mckee just said about terminals, is this a fed that will change its tune before the june meeting? stephen: no, i think they are very much focused on inflation until they see convincing evidence that inflation is coming down towards something they can find acceptable. they are going to plow ahead, and i think chairman powell wanted to thicket away -- wanted to take away a lot of the near-term volatility by announcing that they are liquid to go 50 in june and july. i thing that is pretty much big in the cake. we will see what happens as we get towards the end of the summer and into the fall. lisa: this is why i find it fascinating that some of the turmoil we are seeing in equities and other risk assets are translating into a bid for bonds even on the short end, even on the two-year yield. do using this is misplaced in terms of what people's confidence is that the fed will actually step back a little bit from an aggressive plan in the face of stagflation? stephen: i think financial markets have a really tough time dis

terminal as well as online. on apple, spotify, i heart. this is bloomberg. ♪ manus: this is "bloomberg daybreak: middle east."