caroline: from bloomberg's world headquarters in new york, i'm caroline hyde. taylor: joe weisenthal and romaine bostick are off. it is ladies day. caroline: the s&p 500 worst day since may. the global market selloff. not a single member of the dow jones industrial average managed to be in the green. taylor: the question is, what did you miss? caroline: the u.k. is a prime example. today was it's freedom day. a time when covid restrictions were removed. boris johnson spent the day in isolation. having to conduct a news conference virtually after having come into contact with a health secretary who tested positive. to the most in the world. it is a good example of how doubts are creeping into the recovery. it is also notable deaths are not rising at the pace we had previously but case counts are spiraling. taylor: there are case counts leading us to remember where we were a year ago. there are two stocks that reminded us what goes up when you do these stay-at-home trades, namely peloton. you are up 7% versus the reopening trade. today was starting to unwind. you

♪ caroline: i am caroline hyde. joe: i am joe weisenthal. romaine: i am romaine bostick. e day started out up but ended down for the s&p 500. joe: the question is what you miss? caroline: the china regulatory news. the big theme of the day -- it is. romaine: on this show? caroline: we are talking regulation and investing. the u.k. has slammed crypto finance, forcing them to remove financial promotions to make it clear the exchange will no longer be permitted to resume operation without prior consent. this has kicked off global scrutiny. we speak with the ceo of binance's united states branch. meanwhile, we are not just looking at a centralized exchange of crypto, but decentralized options. what is the future of decentralized finance? what protocols are being built? we speak with a venture capitalist who is investing exclusively in crypto companies. let's talk isn data. still well above 60, but slightly slower pace. joe: exactly right. still very strong. i think the way people would characterize the economy overall right now, and nothing we saw in the ism today, was very st

i am caroline hyde.♪ ♪ ♪ 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. >> good morning, welcome to "bloomberg daybreak: australia." i'm haidi stroud-watts in sydney. sophie: we are counting down to major market opens. >> the top stories this hour. didi tumbles as beijing cracks down on the company. it may discourage china's tech giants from listing in the u.s..

caroline: i'm caroline hyde in for emily chang. coming up in the next hour, the firm losing almost $20 billion in market valuation just three days after the company debuted as the largest chinese listing in u.s. history. more on chinese listings crackdown. more on the massive ransomware attack over the weekend with the global software supply chain. the white house says u.s. and russian officials will meet next week. andy jassy takes the reins from amazon. what that means, will he receive scrutiny in the overall transparency of the giant. u.s. stocks fell with a streak of seven consecutive record highs. u.s. treasury market is where the action was. yields at the lowest since february. there is a key picture that has big tech back on top. >> it was a risk day off on the market. you could see the 2020 trade. tech serving. that is what you are seeing. s&p 500 dealing with a lot of negative factors. the delta variant, the pfizer vaccine affect efficacy, and the potential for opec plus to not come to an agreement in oil prices higher. th

caroline hyde may need some help. we have brian belski coming up.aine: map is working overtime, too. tom: with brian belski you have to do a minnesota vikings update. what is the chance caroline hyde does not know what minnesota vikings is? romaine: she has no idea. tom: they wear purple. brian belski on the equity market. he has made an adjustment. red and green on the screen. stay with us on radio and television. ritika: with the first word news, i'm ritika gupta. the price of west texas intermediate oil has not been this high since 2014. crude surged after a fight between saudi arabia and the uae block supply increase and plunge the opec-plus coalition indoor crisis and left the global oil market without the after supply it has been counting on. tomorrow germany will make it easier for travelers coming from the u.k., portugal, russia, india. they will no longer have to quarantine for 14 days. germany's virus variant list, south africa -- the summer olympics will begin before a mostly empty stadium. the government is arranging for the opening cere

♪ >> i am caroline hyde. maine: -- caroline: s&p 500 rattling -- rallying for a second straight day. romaine: the question is, what you miss? airline co. -- caroline: financial numbers taking the focus off concerns about economic impacts of covid. the flareup around the globe. these are real worries about how variants are causing rising cases as vaccinations failed to keep up with goals set around the world. businesses across the spectrum look to get back on their feet. for one, restaurants in the united states. do you want to go back to the days of extreme shutdowns? to get into that, we start with the delta variant. romaine: there's a lot of concern about this. about a year ago when covid was taking cold over this nation, we talked about how to flatten that curve. you can see how bad it got. eventually, we did flatten. this is a success story of vaccines and social distancing and keeping ourselves apart and healthy. the concern is on the far right of your screen, you can see the curve going up. obviously we

. ♪ caroline: i am caroline hyde in for emily chang this is "bloomberg technology." u.s.tocks rose to record highs again. even the nasdaq managing to eke out a tiny gain. kriti gupta has more. kriti: yields are dropping lower so people are buying treasuries. you have a risk sentiment higher. looks like they have restarted it a little bit. let's take a step back and assume out, look at the trade that has been doing very well. you mentioned the nasdaq, it doesn't seem like that growth stocks are facing just as much pressure downward as they did earlier in the year. it is starting to slant higher a little bit when compared to hotel stocks, really showing that recovery trade. not doing so well in the month of june. what isn't doing so well, some of the subsectors of the tech trade. remember when it used to trade as a bundle? if big tech did well, it trickled down to other stocks. none of that today. gold dragging the index. shareholders of the ipo coming back and saying that is not fair, a lot of us early investors not getting the deal they want. it is strictly down into the

caroline: from bloomberg's world headquarters in new york, i'm caroline hyde. romaine: let's take a look at where financial markets stand. stocks really, bonds rally, nothing joe: makes sense anymore. joe:joe: the question is, what'd you miss? caroline: the real story has got to be about yields. falling for a second day. from main to wall street, everybody asking about the come back. red-hot housing market, heavy bonds, urban homes. high cost of lumber, more ahead. first, let's try to unscramble this. joe: rates is such a story right now. all the time in my head, rates are going to go higher, 10 year yield, 1.3%. 1.31. for more, we turn to bloomberg news, what is the story? >> it looks like it. i'm going to say everything kind of makes perfect sense. if you look at real yields, -1.1%. going to drive out the s&p 500 as well. as for what is actually driving, that is a little bit up for debate. you are hearing more about a, that story has been around since april. perhaps some positioning moves. definitely the economic data side, if you look at the city economic sur

caroline: from bloomberg world headquarters in new york, i'm caroline hyde. joe: i'm joe weisenthal. romaine: i'm robot -- romaine bostick. down on the day. joe: the question is, "what'd you miss?" caroline: the deadly covid-19 variant, causing markets to drop? and what we talked about yesterday, putting the brakes on reflation trade. and it's not just the u.s.. a major chinese company lost $15 million as they were slammed by shareholder suits and underwriting. wall street tightens all had to defend themselves there. they were pretty bullish on investing in china, but we can't go a day of course without what we love best, cryptic's. we hear from the founder of the so-called soundcloud, built on the theory of network. don't miss it but apparently, joe, what you might have missed his technical. we have been talking about this all day. joe: technicals is the answer to everything when you don't know the answer to anything. therefore the answer must be technicals. we have seen moves and plays with all kinds of stuff going on. romaine: you aren't going to claim that

caroline: from bloomberg world headquarters in new york, i am caroline hyde. romaine: let's look at where financial markets ended the day. we started off with hot inflation, a treasury auction, and a retreat in u.s. equities. joe: the question is, "what'd you miss?" caroline: consumer prices surged in june by the most since 2008, topping all forecasts. coming just ahead of the all import fed chair powell testimony in the next two days. the next move, will it be more hawkish? bottlenecks in the supply chain driving freight higher? also, prices being passed on to the consumer. we saw that with conagra today. lumber, futures wiped out massive gains we saw back in early of 20 to anyone. lumber aside, core headline inflation pointed toward increasing prices. joe: people continue to talk about how this is likely to be transitory. we can attribute the move ongoing to used cars, certain other things that are likely. nonetheless, we do see quite a rise here. cpi, no matter how you want to slice it, basically every measure you look at. headline, core, annualized, three-m

tom: romaine, can you get caroline hyde to step it up in the afternoon on english football?n: i do not think that is what romaine wants. romaine bostick coming up later on the close with caroline hyde and taylor riggs will on monday we will catch up with lisa. mohammed will be joining me along with a whole host of guests come and on to really yield later this afternoon. jonathan: anything -- tom: anything after really yield question mark jonathan: i will be going home after and having a nice weekend. this is bloomberg. ♪ ritika: with the first word news, i'm ritika gupta. president biden is sending an executive order that will lead to new regulations on everything from airline luggage fees to noncompete clauses. it is designed to promote competition across american industries. regulators are being called on to promote scrutiny in drug prices and much more. president biden's team is concerned time is running out to revise the iran nuclear deal donald trump has abandoned. there been six rounds of negotiations in vienna and little sign of when a seventh might start. the talks a

caroline: from bloomberg world headquarters in new york, i'm caroline hyde. romaine: i romaine bostick. caroline: let's take a look, "what'd you miss?" another set of a tech earnings after the all meeting after the battle with growth just yesterday, apple warning growth would slow after posting record-setting sales. facebook and paypal also looking at potential deceleration. we will focus on those numbers, including paypal payment volume topping estimates. it's a possible key point for the fed. we will get a deep dive there, but before that, earnings from paypal. romaine: this is confounding, numbers in the quarter beating here with net revenue at 6.2 4 billion active customer accounts , added 11.4 million. i guess the issue is that some of the numbers were right in line or just a touch light here and the forecast might have been lower than what folks were looking for in terms of active customer accounts for the year. it's a range they have given in the street was looking for about 54.5 million and four more insight into this, breaking down the numbers, we are

caroline: from bloomberg's world headquarters in new york, i am caroline hyde. romaine: let's look at where financial markets ended the day. the s&p 500 closes at a record high. caroline: we are traveling a lot today. around the world. first, from wall street, silicon valley megan tech stocks help to carry the s&p 500 to record highs. tesla the first company to report as we kick off a huge week of earnings. what the company is doing in terms of his business in china. that is where we will go next, beijing, the crackdown rocking investors. questions of how far xi jinping is willing to go. finally, we go to europe, but in a different time and place. we speak to patrick wyman on what we can learn going back to the 15th century. before we can figure out the history, let's talk about the markets right here, right now, today. joe: i am hoping we can get some good stock pick lessons from europe in the 1500s. the last couple of days, chinese stocks getting clobbered. tesla still up about half a percent. moving a lot lately, chinese stocks. it seems like every sector comi

caroline: i'm caroline hyde. joe: i'm joe weisenthal. romaine: and i'm romaine bostick. you saw a bid come into treasuries, a modest bid come into stocks. what did you miss? caroline: u.s. cpi reports showed prices soared in june. cpi showed the same thing, but fed chair jay powell says don't worry about any of it. the u.s. economic recovery has not progressed enough to scale back asset purchase. we will talk to a congressman who believes this guy should stay on as fed chair. the u.s. rental market making a bit of a comeback, especially in manhattan. rentals are up about 9%. we have some talk in congress as well. joe: we have hot inflation prints yesterday and today. one area that hasn't been that high but is expected to be hot -- maybe used car prices will come down -- owners equivalent rent, still well-off levels in 2019 but starting to turn up. anyone out on the rental market is probably experiencing it. romaine: i think it depends on what end of the price point spectrum you are on kimberly -- you are on. joe: kimberly, we see in the government data it is starting to r

caroline: from bloomberg world headquarters in new york, i am caroline hyde. romaine bostick is in boston, the s&p 500 to record. joe: the question is, "what'd you miss?" caroline: strong u.s. jobs data leading to a strong showing for stocks in the second have the air and the s&p 500 hitting seven straight session of record highs, something we have not seen since 1997. u.s. hiring accelerating in june. one of the hopes on this recovery as it will be more equal and will not leave parts of the economy behind. the labor force for adult black men rose to a record in june but still black men over 28 having the highest and a plumber rate of all races and gender groups. we dig into the equality issue on various levels throughout this report. joe: reasons for optimism, picking up the pace of hiring, but concerns remain, pockets of weakness. let's listen to what some of our guests had to say throughout the day on bloomberg. >> 850,000 jobs gained in one months is a solid number. >> for every positive thing you point to their something less positive. >> i am more enthusi

caroline: from bloomberg's will headquarters in new york, i am caroline hyde. romaine: let's look at where financial markets ended the day. just a few hours away from the start of earnings season, investors pushed the stocks to a record high. caroline: the countdown to inflation data. the fed, chair powell, and countdowns sent richard branson into space. richard branson culling the weekend test flight the dawn of a new space-age. investors initially cheered the tip -- cheered the trip but then shares came back to earth amid a stock sale. tomorrow morning's u.s. ppi release. jay powell testifying in the week. we are going to start with this on-again, off-again rotation. value to growth, growth to value. where are we? joe: the indices hitting new records today once again, kind of same old story. for several months within this rally this year, there was the story of the so-called great rotation. value taking up the mantle. the blue line is the value index. that one has kind of stalled out. it has not really gone anywhere since early may. the white line growth surpa

caroline: from bloomberg world headquarters, i'm caroline hyde. romaine: let's take a look at where financial markets ended the day. taylor: the question is, -- joe: the question is, what is you miss? caroline: anxiety seeming to dominate. we had new york manufacturing data. jay powell still dovish, raising concerns about, are we know at peak growth? and nasdaq 100 was lower today. we still nasdaq down. russell 3000 down. everyone is coming out in helen's. joe: camping out in treasuries. 10 year yields low 1.3%. extraordinary levels. what have been seemly unimaginable to or three months ago. 1.972 on the 10 year. pretty extraordinary stuff. for more, let's welcome bloomberg news process at reporter kriti gupta. >> the pun market is telling all the other assets what is up. 124 basis points last week. now we are at 129 once again. the question is, how much lower can you go? what is kind of like limbo. i have not like that in a long time. that is what is happening. romaine: were pulling it all the time on the show. that comes at 5:01. the after party.

♪ caroline: i'm caroline hyde. romaine: i am romaine bostick. t's take a look at where financial markets stand. the great selloff of 2021 gives way to the great rally. caroline: markets close out the week on a high. a broad-based rebound. and a day rally ahead of supply coming into the market next week. are we done worrying about peak growth? china is getting more dove which. -- doveish. the fed is promising more root -- support until we have more jobs. this comes before he is said to head to the hill. americans are feeling the effects of the pandemic. we're digging into two indications. one in the home. the other 10 people back home. let's talk about these markets. joe: absolutely. of course, remain talking about the stock market and this incredible recovery we saw about the great crash of yesterday. still a downturn but not a crash. it bounced back in the 10 year yields but the big picture story is how low they've got it. we were below 1.3 yesterday. 1.35 compared to a month ago. much lower. let's bring in cross asset reporter katie. it shows t

caroline hyde has the day off. romaine: market jitters back, s&p 500 index down on the day.oe: the question is, "what'd you miss?" romaine: a lot of worries right now about potential slowdown of economic tiffany -- economic activity, yet apple, facebook, growing but a potential slowdown in revenue growth. focusing today on the road to recovery, a rocky road, and parts of the economy are reopening on art of the economy are now facing potential new restrictions. we talk about broadway, corporate offices, vaccines and masks that are now being mandated. we dig into all these areas including supply chains and housing, is hot and restaurants, even hotter. that is where we want to start, an area of the economy that has been growing -- consumer spending. we are spending money and that is giving us a boost. joe: brisk consumer personal income and spending data out today, always one of the more interesting numbers. we have it. it is interesting, because we have these huge swings and a huge drop in spending. a big increase in income. but we see something resembling normalization. it is

♪ joe: from -- caroline: from bloomberg world headquarters in your, i'm caroline hyde. e: i'm joe wiesenthal. the question is, "what'd you miss?" joe: u.s. gdp -- caroline: u.s. gdp numbers show strong consumer spending. people eager to get out. end romaine -- and romaine sampling the newest restaurant. growth threatened by the spread of the delta variant. and amazon numbers, another big tech miss like apple and facebook. but as delta worsen, -- but as delta worsens, could we all back on e-commerce? maybe we will be daytrading? the robinhood platform, didn't grow as much is hoped according to the company today. but let's talk with amazon -- talk about amazon,. joe: amazon shares sliding. they beat on earnings, but everyone beats on earnings. the outlook wasn't great. the bread-and-butter, e-commerce online sales, not great. aws advertising, these are still big-money printers. but you can see it down 6%. online sales, weakest growth since the start of the pandemic. so a lot of that transition, that huge boost that they got, starting to fade. let's bring in bloomberg live

. ♪ caroline: caroline hyde in for emily chang. texas where emily is at the blue origin launch site. find out what to express -- expect when jeff bezos heads to space.

i am caroline hyde in for emily chang. the stories of the day. >> widespread selling and big tech was no exception. for the most part, those record highs did not last. microsoft and apple. i really want to go and show you what is being done to those bank stocks broadly. you have american big tech reaching those record highs. the likes of didi and alibaba, those are holding the stock exchange back a little bit. that is what this chart is showing. as we are talking about risk sentiment, we have to talk about bitcoin. it is turning into this macro risk sentiment indicator and it has not been doing so well year to date. you are starting to see this decline and you are seeing it as lower. caroline: so much for the diversification trade. overall, a risk asset, it would seem. let's turn to the world of tiktok. there is uncertainty and that juáhj)q @ platform is turning short form videos into a seriously look at business. while content creators are making money on the platform, there is a significant audience turning to social med

. >> i am caroline hyde in new york, in for emily chang. coming up in the next hour, bitcoin jumps 32,000. both tesla and spacex, this is just a day after crypto's drop of about 50%. let's talk about the volatility. the copy further transitions into the digital first world. we talked to brett taylor about the future of hybrid work and how slack fits into the overall business model and what to do with will smith, odebrecht him junior and kevin durand. we will see what they all have in common. we will get to that in a moment but first, let's get a look at the market. >> a green on the screen kind of day. the s&p five -- s&p 500 is up. tech was still in on the rally. you always want them on your side when it comes to a broad valley. the yield is higher as well. that bid we suffer treasury did not really last today. money is coming out of treasuries and going into stocks. all of that green on the screen has to do with tentacles in particular. the s&p 500 is bouncing up. i believe we have a terminal chart that we can show you. that pink line is

. >> i am caroline hyde in new york, in for emily chang.ps 32,000. both tesla and spacex, this is just a day after crypto's drop

i'm caroline hyde in new york, this is bloomberg. ♪ ♪ haidi: good morning and welcome to "daybreak australia hour. the fed signals it is making progress on reaching the tapered threshold.

. ♪ caroline: caroline hyde in for emily chang.oming up in the next hour, we we head to texas where emily is at the blue origin launch site. find out what to express -- expect when jeff bezos heads to space. it could be the fifth biggest on the u.s. exchange in this record-setting year for public offering. globalfoundries looking to rebrand itself amid a chip shortage. a change in image and how it could impact the larger industry. first, we've got to get into the stock slump. around the world, warnings from health officials of a resurgence of covid-19. an escalation in tensions between the u.s. and china. >> it was a really big confluence. what i called a risk factor stew is what you are seeing. s&p 500 down 1.6%. you sawtek just a little more insulated with some of those other sectors. nasdaq 100 down. compared to the s&p 500 index, the bed bad. this coming as we start seeing yields down as well. a whopping 10 basis points. where did all the money go? treasury is a given, but where else? it went into the dollar, up 0.3%. there wer