i'm caroline hyde. it is time for a bloomberg business flash.n buffett extends a selling streak. berkshire hathaway was a net seller of equities for the fourth straight quarter, selling almost $2 billion worth of stocks. history indicates buffett has struggled to find bargains with the stock market hitting all-time highs. an airport has agreed to be bought by a consortium of funds, just as australia reopens to travel. it has accepted an offer from a group of investors. the company had rejected two previous lower bids. employees at three starbucks coffee shops in new york get a decision on whether they can unionize. if so, they would be the first story ever to recognize unions. a vote in favor would be a victory for the company's labor movement. let's get a quick check on what is happening in the markets and what is coming up as we open the doors to international travelers to come to the u.s. that is helping the markets today. we have optimism surrounding the pfizer virus treatment, u.s. travel restrictions easing, and we have the signal that the

caroline: from bloomberg world headquarters in new york, i'm caroline hyde. katie: romaine bostick is off today. caroline: we caught up with ceo -- a ceo saying their company is facing headwinds. stores sort of key items, including women's apparel. retailers' most important season, black friday, cyber monday. it was quite the tumble in today's session. some of the numbers eroding about 1/5 of their value. taylor: you really think about the haves and the have-nots. who is seeing demand? demand isn't the problem. who is able to control the inventory and getting this stuff into the store? we are taking a look at a few companies i want to mention. nordstrom was down about 29% on the day. gap, having one of the worst lunges ever -- plunges ever. supply chain issues, not a fourth quarter problem, but a full year, 2022 problem. demand is not the problem. we want to figure out all the companies being affected by the supply chain. fuller explains. >> we have a good sense of which companies run robust technology to their supply chains and which ones don't, and it's show

♪ caroline: from bloomberg's road, headquarters in new york, i am caroline hyde. romaine:. am romaine bostick sonali basak and i am sonali basak. the big car rental company raised $1.3 billion in its public debut today. shares opened down and closed down in the first day of trading, but the ipo strikes a turnaround for hertz. chicago was put on the map and hurts. today we will focus on the thousands of locations and has an around the road in the run-up to the debut. hertz made big bets in an effort to take the company in a fresh direction, leasing in order for 100,000 teslas electrify its fleet, and reportedly rip gritting -- top -- recruiting tom brady. we will look at what he took the company to go from the brink of collapse to now, e.v. disruptor? take a look at what the executive had to say about the future of the company. >> this is a transformation of hertz. you have to look at trends, mobility, electrification, shared mobility, collected -- connected cars, autonomy. >> we know our corporate travelers want electric vehicles to visit their clients and do business in. w

caroline: i'm caroline hyde in for emily chang.the next half-hour, we will take a deep dive in two president biden's pick for chair and vice chair of the federal reserve. has tsi

i'm caroline hyde in new york. let's get back to the markets., very fitting to be talking about travel as you are currently across the pond from us. i guess you successfully got your visa stamped. ed: very successful. the u.s. officials on tuesday felt they had to comment, u.s. officials basically said we won't see the same lockdowns in the united states that we saw in europe. but look at the screen, booking holdings with expedia seeing some green on the screen. there is day traffic to suggest the numbers are strong. if you look at the s&p 500 relative to the specific age of airlines, it started when the world was reopening in travel was starting to come back up again. if seen some pressure on those airline stocks recently. if you look at that index, even though transborder travel has reopened, international travel, is something i want to remind you of. you will know this name very well, the ryanair holdings ceo. here's what he had to say on tuesday about the lockdowns in new york and his fears about what this means for travel. he said it is ine

caroline: i'm caroline hyde, in the for emily chang. this is "bloomberg technology." coming up in the next hour, supply chain pain. retailer struggling to keep supply up with demand. amazon. zoom has lost $100 billion from its peak. we will be live with the ceo on how the platform is planning to maintain momentum going into 2022. and how the tech behind cryptocurrency is being used for real-world emergencies. let's get to where the markets are. the nasdaq 100, outperforming. kriti gupta is here. kriti: a little holiday volume. the s&p 500, ending in the green. we had a slew of economic data, but the takeaway is the consumer is still strong. the inflation metric that the fed uses, still not skyrocketing to the point of worry. marginal gains in the s&p 500. tech has been outperforming. the bloomberg dollar index and yields -- tech is extremely sensitive to yields. so is tech relationship -- tech's relationship. i want to talk about bond volatility, in particular. as we start to wait for more signs of liftoff, we have a chart here, bond volatility has been high. equity v

i'm caroline hyde. world leaders weigh in on the future of crypto. risk-off session in the markets but that did not show up. you saw the bloomberg galaxy crypto up 2.2%. it would have been bitcoin driving the gains. ethereum diverges from the broader sentiment in the market. here is why bitcoin is the story. you see the chart and look at how this is performing lately in the conversation of inflation in particular. this will be a chart of bitcoin as the orange line and the white line being the five-year break evens,. . measuring those inflation expectations. . you can see they move together closely, the idea bitcoin could intentionally --potentially beads the bitcoin hedge -- inflation hedge where world leaders say this could be the key to undermining the major currencies, which is also affected by inflation. let's get to how you play this outside of the crypto world and that is the stock market, specifically etf's which not too long ago made their debut. the bitcoin feature etf i want to look at is bito. it has only had one day of outflows, so you ar

caroline: i'm caroline hyde in for emily chang. in the next half-hour, we will take a deep dive in two president biden's pick for chair and vice chair of the federal reserve. has the president avoided a contentious senate battle? let's take a look at the market reaction to those announcement because big tech took a hit. we may be seeing a more hawkish tone as the fed chair remains in place. many felt that brainard would be a dovish voice. no news on what sort of bank supervision. still three more seats to fill. the kbw bank index -- we did not see yields push higher as we expect a rate hike as soon as june 2022. gold futures fall as inflation could be tamed somewhat quicker than the market anticipated. bitcoin up off its highs, not much of an inflation hedge, more of a risk asset. the s&p 500 falls from its record high as we see some of the key tech names under pressure and the two year yield, an auction with soft demand overall. the dollar index continuing to rally, up .4%. the emerging markets feel the brunt of that. i want to we

caroline: i am caroline hyde. taylor: i am romaine bostick. romaine: i am romaine bostick. taylor: i am taylor riggs. caroline: we are looking ahead. a cloud for uber as a public number. there was a recovery in ridership. this is a margin game. ahead of the u.s. jobs report, were looking at the labor part of the gig economy that supports this like uber. taylor, you're looking at the silver lining? taylor: yes. we talk about drivers shortages. we are getting commentary. there is a huge increase in demand, and not enough drivers to meet the demand, that led to an increase in prices, but the ceo says that investment in driver growth is paying dividends and drivers are returning to the plat form, leading to further improvement in the consumer experience, talking about the number of active drivers in the u.s., up 60% versus this time last year. also trying to scale back some spending on driver incentives, which they had in place to get all those drivers back on the platform. you knew the impact we had on prices when there were not enough drivers in the middle of the pandemic. rom

caroline: from bloomberg's world headquarters in new york, i am caroline hyde. romaine: i am romaine bostick. taylor: and i am taylor riggs. caroline: there are several conferences going on in the world. here in new york city, nft n.y.c., the world's largest non-fungible token event has attracted major players in the industry, and major announcements. for example, the auctioning of of 14 pop pop fiction art pieces in the form of nfts. today we will talk about the growth of that industry and how all walks of life are trying to establish their foothold. taylor had. , there has been a lot of buzz around nfts. taylor: we thank you for leading the charge. let's get to one of our very own, sonali basak. what was the theme? ? and the tone on the ground sonali:? first of all, you normally go to morgan stanley, nasdaq, or barclays. today there was a nft takeover of times square. you go to margaritaville for registration, drinks on tap 11:00 a.m., then you make it over to the main event where there are galleries of different forms of nfts. people selling things that would

i am caroline hyde in new york.et back to financial markets. $200 million of market cap capitalization last. it is only tuesday. ed ludlow has a breakdown on tesla. [laughter] ed: it is important to take stock of what has happened, quite literally. we are down from last week when tesla hit a record high. a lot. going on. elon musk saying -- asking twitter, should i sell 20% of my stake? we have michael burry tweeting that elon musk once to sell his stock because he is under pressure to meet his that obligations. a lot to unpack. let's look at this chart. michael got me thinking about short interest. it is 3.5% of the tesla's flute. you can see the yellow line, being that has less share price. short interest is not there anymore undershorts have not been successful historically when it comes to there. can we rule that out? hard to say. let's bring up a tweet from elon musk about whether or not he should sell 10% of his stake. some analysts say that it gives investors an excuse to sell. they may still believe in the l

caroline: i'm caroline hyde. romaine: i am romaine bostick. taylor: i'm taylor riggs. caroline: the bloomberg new economy forum has brought together world and financial leaders and we are talking about some of the topics, inflation, increasing prices, pressures on executives and investors at human beings and some who have never had to build their portfolio in such an environment. we look at retail, earning numbers rolling in, at least on the corporate side of things companies are thriving amid high prices. they are still spending. also from the ceo on how he is handling things. let's listen in. we heard from them on the new economy forum. >> i think inflation is getting to be a lot more structured t oward -- once inflation expectations get anchored, then you get into the spiral. i don't think it is such prairie, non-. >> -- temporary phenomenon. >> i am concerned about inflation. supply chains are repositioning in part because of geopolitics, partly because of resilience considerations by governments, oil prices are going to remain high for quite a while. >> when i thin

i am caroline hyde in new york. let's get back to the financial markets. da -- in two days, a big drop. a $200 million of market cap capitalization lost. it is only tuesday. ed ludlow has a breakdown on tesla. [laughter] ed: it is important to take stock of what has happened, quite literally. we are down from thursday of last week, when tesla hit a record high. there is a lot going on. elon musk, asking twitter, should i sell 10% of my stake? you have michael burry tweeting that elon musk wants to sell his stock because he is under pressure to meet his debt meet -- meet his debt obligations. a lot to unpack. let's look at this chart. michael got me thinking about short interest. it is 3.5% of the tesla's float. you can see the yellow line being tesla's share price. the shorts have not been successful historically when it comes to that stock. can we rule that out as an option for what is happening with tesla stocks? hard to say. let's bring up a tweet from elon musk about whether or not he should sell 10% of his stake. some wall street analysts saying on tu

caroline: from bloomberg's world headquarters in new york, i'm caroline hyde. today, the s&p 500 closing within a whisker of a record high. one company that managed hit another record was qualcomm. earlier today, a bullish sales forecast. over the next 30 minutes, we're going to sit down with the relatively new ceo. he is not new to the company. he is going to be laying out his plans on how he will move the company forward by seizing on the high growth opportunities not only in but automotive, home, the meta-verse. this discussion comes amid the global chip shortage that can remain pervasive. we start with one of the highlights from his presentation. taylor: helping pushing the shares to a record high. some of the big takeaways. traditionally think mobile phone. you think that is where the majority of the revenue is. you are starting to look at a lot of this diversification. there is saying auto industry sales could hit three and half billion dollars by 2025. this is according to some of the bloomberg estimates. rarely showing that anything next few years, goin

caroline: i'm caroline hyde. romaine: the bloomberg new economy forum in singapore is underway as financial leaders discuss the economic recovery out of the pandemic. today, we will take a look at the status of the global reopening. we will take into travel a few days ahead of one of the busiest travel to weeks in the year. plus we will talk to the founder of soho house as it makes plans to open new locations next year. and we'll talk about the restaurant industry. one of the most prominent industries hit by the pandemic, causing owners to rethink how and where customers eat. one of the trends we have been talking a lot about on this program, ghost kitchens. taylor: i love to travel, so i picked this chart out for myself. we love the terminal data that we can get. the tsa is now predicting that passenger levels will be "very close to pre-pandemic levels" in this period around thanksgiving. it is traditionally one of the best periods of the year. tsa say in -- saying they are staffed and ready. this brings up a lo

caroline: i'm caroline hyde. >> i'm romaine bostick. they say breaking up is hard to do, but for toshiba and johnson & johnson, they will give it a try. conglomerates announcing they will break up, streamlining their operations. today, we look at the future of this business structure and if the recent moves signaled the start of a trend or if this is a passing moment. we will see who might be the next to break up when it comes to conglomerates. were they? people talk about tesla, alphabet and meta-platforms. first, let's hear from the ceos who announced the move last week. >> these this misses will be more focused, a higher level of accountability. we should have sharper allocation and strategic flexibility. i think we will end up with investor bases, investors that are probably underinvested in ge today. put all that together and it's clear this is the best path to unlock and create value. >> both businesses have the potential to grow at least single digits and above going forward and we think this will better position the consumer bus

." ♪ caroline: i'm caroline hyde, in for emily chang. this is "bloomberg technology."tting edge chip fabrication plant in the longhorn state. troubled

caroline: from bloomberg's world headquarters in new york, and caroline hyde. romaine: i am romaine bostick. sonali: i'm sonali basak. taylor riggs is off today. caroline: historic run-up in home values during the pandemic. the u.s. market is at or near the peak. that's according to the housing analyst famous on wall street for calling the top of the market in 2005. for the next half hour, we will focus in on the possible warning signs and impact on investors, whether it's today's news that homeowners are cashing out as a tell as they pull equity from their homes in the highest volume since the financial crisis. maybe it's the hedge fund driving the spree. builders are struggling to keep up with demand amid shortages. all the epic rise and fall of the business that has everyone fretting. we will break down the trouble and what a possible correction can mean for the market. romaine: remember the good old days when housing prices might go up by a single digit percentage wise? that has not happened. double-digit percentage gains here, measured by the case-shiller i

announcer: the most crucial moments in the trading day -- this is bloomberg markets the close with caroline hydestick and taylor riggs. denise: it -- caroline: this is bloomberg markets, the close. the trinity are back together and we are looking at treasuries falling further. investors manage strong economic data versus that threats of inflation. taylor on treasuries and all eyes on fed speak, we've got you covered. we are eyeing infrastructure with pete buttigieg as president biden tries to win back public optimism for spending aimed at repairing aging infrastructure. how can it alleviate immediate supply-chain concerns and tanks to? as

from new york, i am caroline hyde. this is bloomberg. ♪ moving is a handful. no kidding!, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at xfinity.com/moving. >> this is "bloomberg daybreak: middle east." powell picked again. president biden is sticking with his fed chair electing reynard to position number two. opec could adjust its meeting. as

this is bloomberg markets -- the close, with caroline hyde, romaine bostick, and taylor riggs.bloomberg markets -- the close." stocks are -- reacting to fears a new covid variant could hurt the economic recovery ahead of one of the biggest travel weekends of the year in the u.s.. variant fears are leading governments from the you take a hong kong to tighten up restrictions on travel singling -- sending airline stops tumbling. black friday is underway in th

. >> and i'm caroline hyde.ebony power 100", a bloomberg special. >> for more than 75 years, ebony has offered the authoritative peive on the

." ♪ caroline: i'm caroline hyde, in for emily chang. this is "bloomberg technology."ge chip fabrication plant in the longhorn state. travel bookings at a record.

. ♪ caroline: i am caroline hyde in for emily chang, and this is "bloomberg technology."es and coinbase slumps. third-quarter results missed wall street estimates.