broadcom deal is going to move forward. the expiration gets broadcom past one hurdle. biggest ever takeover by a semiconductor maker. the u.k. will force owners of apps to curb disinformation. the crackdown is part of the forthcoming online safety bill. the eu wants to increase the number of tech startups in europe through the eu listings app which can make it easier for founders. the eu has fewer tech firms and the goal is to attract more tech and have them relocate to europe as well as investing women and diverse founders. the crypto exchange signed an agreement that includes an option to purchase the lender. they spoke exclusively with sonali basak on friday. >> there are synergies. if you look at what block five has built out, they have a loyal customer base. they have a program people love. we have been focusing on a lot of the backend infrastructure. those match up somewhat nicely. i think there are ways our products can work together in a way that is better than either independent. they have been working really productively with regulators on building out regula

broadcom agreed to buy cloud computing company vmware for $61 billion. 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. ♪ >> we are calling for a technical recession in the first half of this year. we had a negative q1 gdp growth. we expect it of q2 gdp growth, but we are expecting the economy to bounce back in the second half of the year, avoid a more conventional recession this year, and eventually fall into recession next year. jonathan: you got all that? whipsawed by weakness. the chief economist at deutsche bank looking ahead for the u.s. economy. good morning. futures negative on the s&p. on the nasdaq, too. right across the board, we are lower by 0.7% on the s&p, 0.9% on the nasdaq 100. treasuries rally in just a bit off of the lows of last week. yields a little bit lower after creeping higher through pretty much all of last week, down three basis points right now, 3.0449 percent on u.s. 10 year. tom: the distinction to

broadcom is using one of its most senior executives, software group chief tom crouse. .is leaving to become ceo of another company. he was one of the chief negotiators for broadcom's record-setting deal to purchase cloud computing company vm ware. haidi: let's look at the day ahead for austria and new zealand now. the west bank consumer confidence survey is what we're watching. and prime minister anthony albanese is set to address the sydney energy forum and expected to talk reform, as well as strengthening partnerships in the indo-pacific. next, the u.s. commerce secretary says lawmakers are playing politics with national security over a delayed chipmaking bill. we will get details with the u.s. secretary mattis. this is bloomberg. ♪ millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy campers out there. and it's never too late to join

it helps broadcom secure the original agreement.ext, covid flareups are fueling fears of more harsh lockdowns. we will get the latest on china's coronavirus situation up next as cases emerge not from shanghai, but cases in hanoi province where we see the source of the new outbreak. the latest is next. this is bloomberg. ♪ haidi: breaking news out of hong kong. global pmi numbers for the month of june, 52.4 which is a slight deceleration from the dubious month when it came in at 54.9. third consecutive month the pmi numbers are in expansionary territory. hong kong still has a long way to go after the omicron wave pushed the economy into contraction. we are seeing some signs of improvement whether it's retail sales, june pmi numbers with a little bit of easing, but still in expansionary territory. let's check on the markets. annabelle: keeping an eye on oil this morning. brent crude recovering slightly in early trading. supply remains unresolved. lots of concerns about global recession risks. andrew bailey weighing in on this, it slum

broadcom is losing one of its most senior is the software -- one of its most senior executives.e was one of the chief negotiators for broadcom's record-setting $61 billion deal to purchase cloud computing company vm ware. gap shares fell in late trading after the retailer fired its ceo, sonia syngal, over a series of operational challenges. the chairman will take over as interim ceo. gap sees its second-quarter adjusted operating margin percentage at zero to slightly negative. next, japanese prime minister fumio kishida is setting his sights on a capitalism that is fair and greener. will get more on his agenda just ahead. this is bloomberg. ♪ psst. girl. you can do better. ok. wow. i'm right here. and you can do better, too. at least with your big name wireless carrier. with xfinity mobile, you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a year on your wireless bill, over t-mobile, at&t and verizon. wow. i can do better. yes, you can. i can do better, too. break free from the big three and switch to xfinity mobile

and even though he was aware of the crimes committed there, they incline seek them, broadcom good, either the key, we have the evidence that on looking no, what's missing is the political will to carry out the prosecution. a syllable girl did you order the colony alia law? lap roy arcus in his seat, that human rights lawyer, none fernandez, also criticizes the in action of those responsible oral castle murder. am i? this is the most dramatic case in chiles. recent history, neither the minister of justice nor the president or minister of the interior are fulfilling the duties of their office, but included the military society has the right to demand the crimes of colonial digney that be prosecuted. colony deserves compensation. clarification and justice and say, yeah, delaware, i see on there that it would be very helpful is losing his patience with how little is being done with it that were quite pessimistic. i don't expect much from minister a lot. i mean, and on the contrary, i think you want to just sleep the whole thing under the rush. ah, at the same time there is not enough money or

. >> so the buy here is broadcom i was thirsty. >> dom was having it back here up next, how the billionompares to the size of some wall street names you might owbo. kn aut >> popular ones. you'll know these names. >> "power lunch" is up next. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools, and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities. while an earnings tool helps you plan your trades and stay on top of the market. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid p

broadcom is a name i have my eye on but there are names that are starting to get on the valuation sidesting. we've just got to get through the e part of the earnings and evaluation story. >> vivek, how can we think about the double ordering issue that so many investors are concerned about and maybe when that's all through on the other side of it demand is even weaker than what we're seeing right now >> sure. so i think there are pockets of semiconductors where there could be double ordering risks you know, these tend to be exposed more on the commodity side so, for example, memory there are greater double ordering risks because you can exchange products from different suppliers. but there are other parts of the semiconductor market such as in cloud and parts of enterprise, such as in semi cap equipment where it is hard to double order. but still the demand outlook from a number of those customers was based upon the consumption of a certain macroeconomic outlook. the semiconductor industry doesn't operate in a vacuum. it is exposed to a separate economic environment and that is being in

and you like amazon, worth a mention here because of prime day, microsoft, broadcom, you know, some -- the big defense names, as well you think if we kind of get into a pickle there, let's just say, we're already in one, we have to leave it there, joanne but i very much appreciate your time today we'll check back in soon joanne feeney on these markets >>> now, in the meantime, we had the ten-year note go up for auction at the top of the hour let's get out to rick santelli at the cme, how'd it go? >> when a tree falls in the forest, if there's nobody around to hear it, as it goes -- if you have an auction and nobody shows up -- because that's what seems to be what happened with the ten-year note auction. let's go to the beginning of the story, shall we? 33 billion tens. the market was trading around 293.5, so just under 2.94% it priced at 2.96% higher yield, lower price. it was messy on pricing, and pretty much, every aspect other than one was messy you had the lowest bid to cover since decent 2020 at 2.34. 61.3 on indirects, the lowest since april of 21. the dealers took a 20.7 chunk

. >> broadcom. >> your newest buy >> j.p. >> staying long ecp. >> josh brown. thank you very much. jim, farmer gem, nst semiconductors that's my final trade today. >> i will see all of you in a few hours for the big earnings that does it for us. "the exchange" is now. ♪ >> thank you very much, scott. hi, everybody. i'm kelly evans, and here's what's ahead walmart's core customer is under pressure jan niffin gave us the very warning on friday, and now the retail giant gave us its outlook sending the markets lower, at least mostly lower and it's not walmart. sholify is laying off workers. are there any retail winners actually, yeah, and we'll go through them big tech on deck the nasdaq leading the declines right now as microsoft and alphabet are set to report after the bell should you buy either right now? it's actually a yes for one of them says danielle shea who will make her case in a moment, and from lack of product to lack of labor. we check back in with one company that we first profiled during the pandemic. the ceo says job abandonment is now his biggest challenge, but, first,

>> so, sara, if you look back and you remember the broadcom deal that we actually blocked and we're blockingwork together with the dutch government to keep the most advanced chip-making technology away from the chinese and away from their ability to even see it or steal it or buy it and in this case asml makes, as you know, probably the single most important photolithographic process which enables chips to be printed via light so far we've been able to keep this technology away from the malign activities of the communist party and i hope we can dkeep doing so going forwar. listen to the joint conference between fbi director wray and mi-5 director and you'll see that we're opening a new case on chinese ip theft or malign activities every 12 hours in the united states. think about this we're opening 700 chinese cases a year, and yet wall street can't wait for another chinese deal to go through and we can't wait to invest more money in chinese companies. it's a schism -- >> to be fair, they might be in a better spot than we are right now. they're stimulating. their inflation is very low. their

. >> broadcom. >> your newest buy >> j.p. >> staying long ecp. >> josh brown. thank you very much., farmer gem, nst semiconductors that's my final trade today. >> i will see all of you in a few hours for the big earnings that does it for us. "the exchange" is now. ♪ >> thank you very much, scott. hi, everybody. i'm kelly evans, and here's what's ahead walmart's core customer is under pressure jan niffin gave us the very warning on friday, and now the retail giant gave us its outlook sending the markets lower, at least mostly lower and it's not walmart. sholify is laying off workers. are there any retail winners actually, yeah, and we'll go through them big tech on deck the nasdaq leading the declines right now as microsoft and alphabet are set t

i'd love to get back into br broadcom, i think it's too early. >> the semiconductor space because they've lot at least in part, they think has the most elevated upside relative to october 2022 call prices so, again, you're on this -- the qualcomm trade along with nvidia, which were two of the stocks mentioned in the earlier note i referenced. >> in the earlier note, qualcomm they said mixed. the reason it's mixed, there's some issues with cersmartphones, particularly related to demand in china with the shut downs they have been going through the reason there's a positive for qualcomm, they have been diversifying away from smartphones, a big part of their business, but into automotive and internet of things, which are growing areas. we know there's a muddy chip shortage in automotive i actually think qualcomm or nxpi frankly at these prices are really really cheap. it's a time frame thing. again, the next month, i don't know the next six months, i feel pretty good about owning those chip names. >> you used the word muddy a moment ago, and speaking of, short seller muddy waters is taking a