bank of america and citigroup reporting earnings beats.itigroup making a big announcement to exit the retail banking business in 13 markets across asia and elsewhere. >> while these are all excellent franchises, we don't have the scale we need to compete, and we decided we simply are not the best owners long-term. citigroup will continue to serve our institutional clients in these markets. haslinda: bloomberg's su keenan joins us from new york. there is a lot to unpack here. let's start with why bank stocks fell, despite the fact that citigroup, j.p. morgan all reported predictions of a post pandemic economic boom. su: investors appear concerned about week loan demand and what that could be saying about the economy, but they cannot deny the fact that citi and bank of america joined j.p. morgan and wells fargo in blowing away expectations for the quarter. they also joined the heads of those banks in seeing good things ahead for the economy. citigroup's ceo says this is the healthiest we have seen the consumer emerge from a crisis in recent

i don't want to dovetail citigroup into russian sanctions. i think we need to do that, but i would say that when you see retail shut down, that is nothing more than expense control. jonathan: i would also say what we have seen with the likes of hsbc, it is really difficult at a large international bank. i think that is probably the issue with citi. how many times have we heard from credit suisse, going back to basics? we've heard that from european banks as well, going to the domestic story. i think in some way, to some degree, that is what we are seeing from citi today. the home market, that is where the money that. tom: hsbc is really becoming the hong kong and shanghai banking corporation. they move five senior officers to hong kong, where they will join steve major. jonathan: right, steve major in hong kong, too. it is interesting that hsbc doubles down on what it would consider its home region now, and citi is pulling back from the likes of europe and asia. i think we will see a lot more of this. we have seen a lot of it already. tom: fu

citigroup at 8:00. conversation went brian moynihan later as well. now my conversation of the day with thomas miss showed from keefe bruyette & woods. he knows you walk into a baker's office and you start to talk about consolidation. you guys invented it in 1962, tucker hampton and the merger of kbw. you guys literally invented the modern consolidation with the bank of new england. are we going to see a redux in this bank boom of consolidation? thomas: great memory. you do remember a long way back. we did work on those deals for bank of new england. the industry has been consolidating for many decades. the question is what is the pace? consolidation is an important theme and we think it will continue. we think it will continue for a couple of primary reasons. number one, it seems as if for the first time in my 35 year career the bigger banks are more profitable. you look at our earnings models for next year, we see the morning about 200 basis points more return on tangible common equity. it feels like it is not just a flesh in the pan. these skills h

>> i still really like citigroup. i think citigroup has actually lagged on a year to date basis. the big banks. jp is my favorite bank because of the way that they're run with jamie dimon and his team, but if i had to pick one, i would stick with citigroup right here. charles: all right. let's switch gears because the most exciting news is going to be coinbase tomorrow. i'm on the edge of my seat. it starts trading. get this, last week da davidson said we're going to go to $440 as a target. i thought that was nuts. this morning moffett went to $600 a share. i mean, should people be chasing this no matter where it opens, eddie? >> look, this is the most exciting ipo we've seen in many, many years. i kind of think back to the internet when that was first introduced. this is out of character for me. me, personally, i'm going to chase it with a portion of what i would allocate to coinbase. hook, there's 95 million millennials out there today. they're going to continue to drive crypto to levels that far exceed our expectations right now. it still is a very underowned asset. most peopl

let's talk about that with steven trent at citigroup. steven, good morning we are hearing from gary kelly at southwest airlines and they are talking about domestic travel booming for years, it was the airlines to routes from france and tokyo. do we want to buy the airlines with routes from dallas to boise? >> no, great question. good morning to you as well. i think what we're seeing in this evolution of the pandemic is certainly a bigger focus on domestic travel and focus on leisure and visiting friends and relatives travel we think in the moving forward in the post-pandemic environment, that those carrier was the best seat and customer profiles will be the winners, relatively speaking. i think in terms of what this means for the airlines and what it means for the bottom line, i

thank you very much. >>> up next, citigroup's international shift.wn what this could me for the stock with bank analyst mike mayo. that's coming up next on "closing bell. >>> citi announcing thatthey'r pulling out of 13 markets in their global consumer bank they will off rate out of four wealth hubs those are london, uae, hong kong and singapore they remain fully committed in all markets in the institutional business and they're not wasting any time here. >> we're already getting going and there's no dillydallying here what we're looking at doing is we've begun the work the actions are under way in several markets. we'll look to compete in a timely fashion and we expect to be out in some markets this quarter. >> joining us on the phone, mike mayo with wells fargo. mike, great to have you with us. you've been calling, i guess, for citi to focus their business a little more in recent years. do you welcome this news today >> well, there's a new ceo at citigroup and her name is jane "change agent" fraser. this is great. she's probably the biggest change

on earnings, citigroup set to report. heard on bloomberg radio, seen on bloomberg tv. keene and lisa abramowicz, i'm jonathan ferro. this is "bloomberg surveillance ." ♪ surveillance ." ♪ >> we are in uncharted territory. there's a lot of unknowns as we look beyond three to six months. >> the economy generates private sector demand, and then the banks will be happy again. >> what is going to power consumer spending is the services side of the economy, not the good side. >> everything we follow would suggest every bit of inflation is being passed through, and then some. >> the market is overly price for that inflation risk in the near-term. we are still going to have higher inflation to come. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone.

great lineup of guests coming your way in just a few minutes a can't-miss interview with the new citigroup ceo, jane fraser her first interview being the first woman to lead one of wall street's banks >>> the biden administration is looking into nicotine caps for cigarette makers, moving those stocks lower. >>> and netflix, csx, interactive brokers all gearing up for earnings after the close. we've got an interview with thomas peterffy. first let's talk about the sell-off mike santoli tracking the market action josh lipton with the highlights from apple's spring product event. mike, start us off with the pullback you're seeing small caps 8% off their highs. >> actually setting up for the broad market to be the first two-day decline in april which is a mark how steady and resilient the rally had been when we were getting around 4130, 4140, that was the upper target for a lot of cycle work, a lot of technicals. it seemed as if it was a point that could be a barrier. we overshot it and a lot of time you get those overshoots and they don't last and that's what you're seeing. now, it's not part

is that maureen citigroup? -- is that more in citigroup?avid: for me, i would focus on the highest quality businesses and make sure that you understand the returns on investment capital and the cash flow of these firms, and the strength of the business is behind that. there, jp morgan is at the time of your list. goldman, high returns on capital. they still got to make a big switching to consumer, but they have gotten a super successful capital markets business that within will fund that successfully overtime. bank of america and citi are sort of middle ground. big businesses, but not us strong, not as well organized, not as good culture. wells fargo continues to have problems. they are not even able to take it vantage of the capital markets' esc -- the capital markets' excesses these days. it is understanding the strong macroeconomic background for them, and focusing on the best. alix: how do you see the trade-off between investment banking, this exposure in loan growth, and the steepening yield curve? it feels like investment banking reve

citigroup has plans to exit retail markets.tead upgraded its franchise to centers in hong kong, singapore, united air members, and london. why is city exiting these markets? is there a timeline? this is kind of familiar domain for the new ceo as well. >> the new ceo overnight mention scale so she says businesses are good but they are just not big enough to compete with the local rivals in the markets so that is a big reason. it is coming at a time when regulators are putting increasing pressure to clean up internal infrastructure and controlled and there potentially facing costly regulatory work so they are looking at each unit as a part of a broader strategic review and trying to clean up. shery: what is the timeline for all of these changes? >> their exiting markets in china, indonesia, some in europe as well. they that outlined a timeline but that is not something they going to be holding onto for very long. in australia, they started a sales process and they are in talks with several bidders and we are looking at something

watching for regulation for citigroup and wells fargo.igroup is amazingly trading cheaper relative to book value than all of the major banks. there are things that might overshadow them. the other big thing to watch out for, because you have wall street now expecting a 66% surge in earnings-per-share for the financial sector more largely. have the prices risen already to accommodate that gain? the year-over-year comp is tough. last year we had banks provisioning billions worth of loan losses. this year, the economy getting better. but you also have a mixed bag here. the trading surge is ebbing. we will watch for that pipeline. can it continue? and also, knowing that loan growth is as sluggish as it is is a problem, so the banks like jp morgan, bank of america, and wells fargo, cannot loan growth become a problem into the rest of the year? alix: you are going to hang tight. we will get back to you in just one second. for more on banks, walter todd, greenwood capital chief in the smith officer, joins us now -- chief investment officer, join

and then today we got more calls from bank of america and citigroup.he tone for the rest of the entire reporting period and this time i was worried because the financials had run so much over the past six months but man, the numbers were really good i mean fantastic goldman shot the lights out. with the best quarter of the bunch. jp morgan gave magnificent results. even if the market reacted harshly, sending the stock down nearly 2%. i think the sellers got that way wrong. and while wells fargo's quarter was really okay, nobody expected anything great from the worst of the big banks, which is why that stock jumped 5.5% on the news. again, i was pretty worried about this coming earnings season, but they delivered, taking that concern off the table. so what do we do let's take them one by one, figure them out, starting with goldman sachs. this stock only rallied 2% yesterday, and i think that's actually a little ridiculous as chris from opko said, goldman had a pretty good year this quarter. ba dum bump. i'm bringing back the old name i'm calling them go

citigroup, bank of america, can they do the same?y trading and the results have been weak. the consumer sector will be a concern for bank of america. anna: dani burger with the latest on the banking sector. a bit of breaking news coming through. it is moving one stock in particular. according to a business insider report, a court in germany has ruled that berlin's rent cap is unconstitutional. deutsche's particular share price up by nearly 5% on those reports around the rent cap. this has been a long and rambling story. the cost of living in berlin and the legality of measures imposed to deal with that. coming up later in the program, we will be back to the bank earnings came. we will be speaking to the ceo of bank of america, brian moynihan. we will be sure to bring you all the highlights tomorrow morning at 10:00 p.m. coming up, we will talk about emissions. this is bloomberg. ♪ ♪ anna: welcome back. half an hour trading session. u.s. features have been more positive. they work during the last hour and continued to do so. nasdaq ar

citigroup saying the dividend type -- hike will bode well for shared holders.ye on to pair just japan airlines. they are planning to make a china focus, low-cost carrier spring air into a subsidiary. we have names like onex group reporting. shery: we will watch those stocks is the markets in tokyo, sydney, and seoul open at the top of the hour. this is bloomberg. ♪ paul: good morning. asia's major markets have just open. i'm paul allen in city -- in sydney. shery: welcome to "daybreak asia." as earnings seasons continues to unfold and a what investors await decisions from the boj in the fed. investors are waiting for reports from two big banks looking for hsbc's pivot to asia and whether nomira can shake off the archegos debacle. plus, china is this -- is expected to use on food delivery giant. >> for a look at ways turning on, sophie kamaruddin is in hong kong. >> the nikkei's gaining some ground. nomura on watch. plus canon on the radar. shares jumping nearly 3%. also watching toyota. and dg bees are rising on the boj decision today. we will watch for any clu

emily: we heard that quote earlier from citigroup and i'm curious what you think the market for techpo's looks like for the rest of the year and if you think the pace of the deals will keep up, and what deutsche bank's role in that will be. ajay: absolutely. the tech market has been on fire . in q1, we saw $137 billion raise in both spac and non-spac ipo's. 50% of that was tech ipo's. tech ipo's have raised about $21 billion of capital, and there is a long list of really solid pipeline for tech ipo's to go public. companies like coinbase and so on and so forth. but along with that, given that we are now slowly coming out of this pandemic, there is obviously the vaccine and economic recovery, financing costs continue to remain low. there is $150 billion of dried powder among the spac's. on the tech side, there is a transformation and evolution of business models. you are seeing healthy activity on the m&a side. we have seen massive deals happen over the last years. salesforce acquiring slack, and even cross-border deals. we are seeing a very healthy progress in the m&a markets. the mu

>> listen, i have citigroup, i have goldman action. i'm not adding to those. you saw me adding to apple and qualcomm when they were down look at how the bank stocks responded last week. great earnings across the board. i mean blowout look at goldman sachs' numbers look at citigroup's numbers, yet they were met on the week. i'm not sure that was interest rates. i think they were just a bit tired after the gains they had had, and i think they ma consolidate over the next month. let's talk about the financials in may if i'm late to the party at that point in time, so be it. >> all right let's bring in our headliner, he manage ceo of blackrock's team, rick reeder, welcome back. >> thanks, scott how are you? >> great, thanks when you were last with us, and let's caulk it sick weeks or so ago, you said, quote, it was the most exciting time in investing in your entire career. then today, even though you've been bullish, you say this week -- speaking i suppose of last week -- feels like things are overheating. it feels a bit frothy. this is an eerie week for my my an

citigroup making internal video calls on fridays as well. mollification of some young employees and young talent. there you go. this is bloomberg. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me, it works 100%. (announcer) think it'll break on you? think again! even a jeep can't burst it. give the aerotrainer a shot. pain and stress is the only thing you have to lose. get it and get it now. your body will thank you. (announcer) find o

plus, citigroup expands banking in 13 markets across asia and europe.e on the plan and the outlook for big banks. this is bloomberg. ♪ ♪ haidi: stocks jumped to record highs in thursday's session as we look to the start of trading in asia and a positive outlook when it comes to early gains in trading here. retail sales in the u.s. and weekly jobless claims point to an accelerating recovery in the world's biggest economy. let's ring in the ceo of an asset management company. great to have you with us. we are in a bubble given where valuations are, and whether what we see in the data is a reflationary pulse. what do you see about the argument that asset classes are too much at the moment? >> a clear indicator you can look at, and we have been managing for 30 years to avoid the risk of double markets and every once in a while, things happened that don't make sense. you scratch your head and ask if something fundamental has changed throughout the market. we are seeing that now in things like innovator stocks, bitcoin and and ftes. if you look at the last tw

decent numbers at citigroup.d news that it would exit 13 markets with its retail operations. those are markets across asia, europe, the middle east and africa. transformation is more strategic and fundamental. we are taking a soup to nuts approach looking forward rather than backward obviously that's a big step to exit those retail markets. the implication is that there may be other things that happen for citigroup what's the market thinking about what it's hearing? >> their liking what jane fraser has to offer so far. this is her first call as ceo of this bank. consumer businesses actually fell the most. more than at wells fargo and more than at jp morgan. for jane fraser to hone in, her keyword is focused and focus on those businesses that make more in profit around the world makes a lot of sense as well as focusing hard on wealth management. at bank of america we also saw this trend where even when loan demand was weaker, investment assets rose for consumers. focusing on wealth makes a lot of sense when you th

we are going to get you inside from a citigroup economists.hike could mean for the economy. are they want to start economic growth? we haven't heard that from anyone. this is bloomberg. ♪ matt: as a central bank moves forward area at one factor it will have to take into account as president biden's plan for huge stimulus and a major tax overhaul. the president will be unveiling these new moves officially when he delivers his first address to a joint session to congress tonight. many parts of the plan are already known. joining us to discuss is veronica clark. she is citigroup economists. when i was a kid, there were freshwater economists. austrian school, conservative supply-side economists. they seem to be all gone. now the most influential economists in the world are all saltwater, very must keynesian. is there opposition to tax increases on the capital gains side? >> we definitely are still hearing opposition from republicans. matt: -- amanda: we have some hints that by the end of 2000 when he won, some wants to see -- of 2020 one, some wan

citigroup could fetch up to $6 billion to build spanking asset sale as the lender fine tunes it's -- could fetch up to $6 billion for its banking assets sale as the lender fine tunes its portfolio. paul: we got more details on citi's plans to sell retail assets in australia. pmi readings for april also do at the top of the hour, and australia is pledging more money as growing international criticism over the morrison's administration's policies to global -- to battle global climate change. futures for australia a little weaker, off about .2%. you see the 10-year yield for australia reasonably steady. nikkei futures last traded a little bit higher by about .1%. we did see u.s. markets declining on the back of news that president biden may be considering a proposal to significantly raise capital gains tax. still to come, we look at the market outlook. teresa, joins us -- teresa kong joins us at the top of the next hour. stay with us. this is bloomberg. ♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't

sachs helping the dow and overall markets yesterday and could continue today bank of america and citigroup charles schwab reporting and a number of big names reporting tomorrow >>> a mixed picture over seaove overnight. let's look at the early trade in europe not a huge growth trend. the major index is up ab about .30% >>> let's dive into the markets now and back to the hotly anticipated market debut for coinbase be bertha is here with that and other news as coinbase is rolling on >> reporter: the largest exchange by market cap coinbase poised to pick up where they left off after the spectacular debut yesterday. shares are higher in the pre-market the stock closing at $328. up 11% in the pre-market it opened at $381. soared to $429 that is still well above the reference price of $250. meantime, the cdc panel decided to postpone the decision on johnson & johnson's covid vaccine as it reviews the blood clotting disorder. the panel voted to reconvene in one week when it will decide what it will recommend to the cdc on the vaccine that postponement means the pause on the j&j vaccine will remai

we can see that from the citigroup surprise index for the economy. you saw the record disappointment when we headed into the nadir of the pandemic shut down, then a record outperformance in terms of economic surprises to the upside as we came out. this is such a difficult time to parse out how you talk about forecasts and how companies even come up with some. tom: that is one of the reasons to stay with us on radio and television through april. we don't have a clue what we are talking about. [laughter] j.p. morgan, i believe it is april 14. apple, april 28. a host of other companies. futures negative eight, dow futures -39. stay with us. a global conversation on economics, finance, investment. dollar fractionally stronger right now. we don't to brian nick of nuveen, next. this is bloomberg. ♪ ritika: with the first word news, i'm ritika gupta. a tough day at credit suisse. the bank will take a $4.7 billion right down to hide to the implosion of archegos. it series of scandals raised questions about risk management. investment bank head and the chief

citigroup private bank and we will talk about the asset allocation within these markets. and green on the screen on radio and television. ♪ tom: bloomberg "surveillance." mr. ferro is off for a good part of this week. markets away from equities, real yield negative zero point 66. nominal yield 1.66%. down from the higher yields from a number of days ago. the dollar weaker. we are seeing 92.2. we see real weakness in the u.s. dollar with yen. demand worries out there amid a u.s. boom economy. it is a boom stock market. >> we are coming off of yesterday, the lowest volume trading day we've had so far this year. it is hard for traders to find those opportunities even a little harder to piece together a market narrative. narrative seems to be coalescing around the opening part. you see that reflected in a lot of the cruise line stocks pure norwegian cruise lines on a five-day 14% run. it looks like you will open higher, the sixth straight day of gains. yesterday we had the cdc coming out and basically saying it does believe it will allow the cruise lines here in the u.s. to b

citigroup global economist.inary to see the timeline of this and all we talked about over the years. those rules then still a part of what we do today. lisa: the fundamental still driving, even though we have a vastly changed scenario. we are trying to understand how we are misstating the future as we look to hope versus reality. we will carry that conversation forward. tom: what is interesting is the idea of the bond market is litmus paper for the system. it was not like that 50 years ago. lisa: there is a question of how much the litmus paper at a time of central bank innovation. we will drive that forward on the open. brian belski will be among those joining me on a jon ferro property i will be joining in his absence, or some people might say, sabbatical. tom: sabbatical. we will see. it depends if the gulf stream can get him home. futures -- red and green on the screen. this is bloomberg. good morning. ritika: credit suisse is paying the price for its involvement in the collapse of archegos capital managemen

we spoke to catherine men of citigroup -- katherine mann of citigroup.peak to richard clarida later today. now, kenneth rogoff of harvard university on the dollar and the place within our global system. professor rogoff, i mentioned this line that goes from modern economics of you back there jacob frankel to the founding of robert mundell. and all of that, as a politician, you start to sing of friends, who talked about the dutch france -- france, who talked about the u.s. dollar exorbitant privilege. are we finally here where we could lose our exorbitant privilege? ken: it's a great tragedy that we have lost robert mondo. i -- robert mundell. certainly an incredibly original scholar. i do not think we are about to lose our exorbitant privilege tomorrow. there is no question that part of what strengthened it over the last 10, 20 years is that china has had a very dollar-centric policy. now, it's a mix of the dollar and the euro but the dollar and the euro are not moving much. as long as that holds up, i think the u.s. exorbitant privilege is solid. it mig

tomorrow we're going to hear from bank of america, citigroup, u.s.., charles is schwab and blackrock. but let us bring in teddy weisberg and scott bauer on whether, teddy, any of these things is on your buy with list ahead of tomorrow's earnings or a name that we haven't yet discussed in the last 20 minutes. >> well, first of all, as a rule of thumb, liz, we don't buy into any securities including the banks prior to earnings. it's just too much risk because a lot of these stocks are pretty much at least presently priced to perfection. they're pretty good as guiding investors' expectations prior to the release of the earns, so we think -- earnings, so we think a lot of the news is already priced in. but in the case of the banks, i mean, we have our favorites, and one of them happens to be bank of america, the other happens to be charles schwab which is sort of a bank, but certainly it's a big financial institution. and they're both reporting tomorrow. i think that with earningsing, liz, you have to be careful because it's a trifecta. they need to get

como coca—cola, delta al ice, citigroup, ups.de los activistas de izquierda, afirmÓ el gobernador republicano de georgia. pero los demÓcratas no dudan en calificar esa ley. >> esto viene de larga tradiciÓn en la que los estados del sur despuÉs de la guerra civil, intentaron exigir el derecho al voto a afroamericanos. mucha de estas medidas afectan distritos y precintos con altas concentraciones de minorÍa. >> atlanta perderÁ $60,000,000 a no celebrarse allÍ este importante partido de exhibiciÓn. ustÉ nos pone en riesgo abriendo el estado en plena pandemia para la recuperaciÓn econÓmica. y ahora con esta ley loca borra de un plumazo todo lo ganado, criticÓ el gobernador al gobernador—— crÍtico al gobernador de alcaldesa de atlanta. el gobernador insiste en que la ley facilita el acceso al votoy hace el preciso mÁs seguro y viable. de moqueta responde que a pesar de que los republicanos quierenfacilitar el voto de las minorÍas en georgia, es un chiste. >> se deberÍa estar ampliando para que mayor nÚmero de personas posibles detrÁs

what about the expense side jpmorgan talked about higher expense guidance citigroup talking about thiss really important, some of the expenses are just because revenues are so great, if you are on investment banking business, you are in mortgage business, you've got to pay your people the production is incredible. so, you want those expenses, the reinvestment of earnings, into technology, are, critical. eventual will lead in better efficiency rates for ail these companies jpmorgan vested over 100 fintech companies external to it incredible for companies to invest in fintech develop products internal as well as external, branches will be diminished over time importants way down pulled forward five years because of the pandemic, the adoption of using internet to do banking consumers and businesses, so the irony is banks sort of looking at dry threw branches going i don't know if really important while important during this lockdown, so, you know banks are definitely going to keep to say branches every corner i think start being a thing of the past you will see that branch closure acceler

jeffrey's offering its youngest workers coveted fitness perks including peloton bikes take the citigroupeo barring internal video calls on friday, a day that will be known as zoom free fridays. at apollo, that company putting its money where its mouth is. some skeptics of these announcements wonder why it took a year for them to realize and address the pandemic's effect on their staff. it may have more to do with wall street's tough competition with tech companies for talent especially as silicon valley has embraced the work from home or hybrid model. >> the productivity you left you get is people have the ability to work from home some days and be in the office with the rest of their team. if you can -- if you can save people commute times, you have better access to talent. it is going to result in a better outcome. romaine: as most of wall street charts the path back to physical offices -- >> there are huge weaknesses to the zoom world. how to handle a client, had to handle a problem. -- how to handle a problem. romaine: the future of work is shifting right in front of us. as the pande

citigroup is joining the bond blitz with its $5.5 billion offering, the fifth major bank to offer high-gradet after reporting solid quarter results and first-time issuance fueling the action, boosting monthly sales close to $50 billion. the busiest april ever in the fifth is used of record. back with this is our panel. the conversation we just had about the federal reserve, the should and shouldn't conversation and whether there is any disagreement in the treasury market because when i look at things, i think the market and the fed is pretty well-received. >> i'm not sure about that either. people get what's being praised in for rate hike. it has come down the past couple of weeks or go -- or so but you are still looking and an 80% probability of a rate hike depending what the fed tells you. i think the market continues to push hard against the fed and powell is pushing hard back. i think that is what we will see the rest of this year and then some. i still think there is lots of wood to chop. the word coming out of the fed of -- is inequality. if you look at the unemployment rate in minorit

chef lonnie traveaux with citigroup hospitality knows firsthand how the pandemic has impacted the restaurant industry. and she also spent time cooking meals for people experiencing homelessness. and rakia galleon has helped prepare over 30,000 meals a day for the east baton rouge school system. please join me in welcoming these heroes this evening. [ applause ] these individuals, as well as thousands of others from across our state, are the reason that we're here today in a better place. and i am beyond grateful. at my last state of the state address on march 9, 2020, i announced the first confirmed case of covid-19 in louisiana. in that singular moment, everything changed. since that day, there have been nearly half a million confirmed cases in our state. on january the 7th, 2021, only a few months ago, more people were in the hospital with covid-19 than at any other time during the pandemic with 2,069 hospitalizations. today, we have 308 people in the hospital with covid. and then -- yes, we're doing better, thank you. [ applause ] and then there's the number that weighs the heaviest on al

what was first reported as a strike on the electric citigroup referred to as an attack, facilities werepparently the target. iran is blaming israel and vowing revenge. >> this is the nuclear facility. the site, the enrichment plant is located in the desert. on sunday, and blacked out. iranian authorities have described it as an act of nuclear terrorism, vowing for retaliation. >> the zionist regime with this action tried to take revenge on the people of iran for their patience and wisdom when it comes to the lifting of sanctions. iran's response will be revenge on the zionist regime at the right time and right place. >> since the incident, israel's media has consistently reported a "devastating cyberattack." officials for their part as a matter of policy have not confirmed or denied the attack. prime minister benjamin netanyahu took to the tribune to reaffirm his position on iran. >> my policy as prime minister of israel is clear. i will never allow iran to obtain the nuclear capability to carry out its genocidal goal of eliminating israel. israel will continue to defend itself against

nothing for six months just going sideways but now it's breaking out, the company reports april 27 in citigroupd, it is looking interesting. jack: carlton what is your idea. >> my colleague that it can close out the gap that has with autozone and advance auto parts the most obvious reasons were using our cars more often other things going on driving around queens potholes everywhere more car repairs and also we have a shortage of cars because the problem that's going on people will be stuck with their current cars a little longer needing more repairs. >> infrastructure project goes to plug the potholes i will be lucky. those are great ideas. to check out more look at this week's addition@barron's.com don't forget to follow uananana. ♪ ♪ ♪. larry: hello everyone welcome back to "kudlow", i am larry kudlow great to be with you this evening fox today closed higher across-the-board another new record for the dow and s&p 500, the economy is booming

we'll get reports from jpmorgan chase, goldman sachs, wells fargo, bank of america, citigroup and morgan stanley. >>> ceos plan to make a new push on voting measures in several states. more than 100 top executives gathered on zoom saturday to discuss taking action to fight controversial state voting bills being considered, including the one recently signed into law in georgia. sources say the leaders from major airlines, retailers and manufacturers discussed ways to show they oppose the legislation. these include halting donations to lawmakers who support those bills, and delaying investments in states that pass restrictive measures. >>> take time off, that's what companies are saying. they are adding incentives to encourage workers to use their vacation time. pwc, the consultacy will offer its employees 250 bucks for every full week of vacation that they book, up to 1,000 bucks a year for four weeks. the plan could cost the firm millions but pwc tells the "wall street journal" it has exhausted every other attempt to try to get people to disconnect from the office over the last year. the

the heavy hitters like starbucks and citigroup reporting results today.er stocked finished mixed yesterday. the dow dropped 61 points. the nasdaq rallied 121, hitting a new high. and the s&p 500 gained 7. >> the u.s. is marking its lowest population growth since the great depression. now the census bureau says altogether, the nation's population rose to 331 million last year. that is the second slowest ever with more people migrating to republican strongholds in the south and west. texas and florida were among several states that gained congressional seats. for the first time ever, california the nation's most populous state lost a congressional seat as a result of slowing migration. >>> apple's update to its operating system comes with new controls. it's designed to limit tracking the activity of iphone users. people get a pop-up notification in some apps seeking their permission to collect data that apple believes could be used to track their browsing habits. the software ruled out yesterday and could bring big changes including facebook that rely on th

nothing for six months just going sideways but now it's breaking out, the company reports april 27 in citigroupood, it is looking interesting. jack: carlton what is your idea. >> my colleague that it can close out the gap that has with autozone and advance auto parts the most obvious reasons were using our cars more often other things going on driving around queens potholes everywhere more car repairs and also we have a shortage of cars because the problem that's going on people will be stuck with their current cars a little longer needing more repairs. >> infrastructure project goes to plug the potholes i will be lucky. those are great ideas. to check out more look at this week's addition@barron's.com don't forget to fol (birds chipping) - [narrator] nezifa was born with a cleft lip in a part of the world with little access to surgical care. living with an unrepaired condition even her own siblings didn't see her for who she was inside. cesars cleft condition was not only life threatening for him, it also threatened his entire family's future. for lexxie, her classmates refused to hear her voi

nothing for six months just going sideways but now it's breaking out, the company reports april 27 in citigroupumbers will be good, it is looking interesting. jack: carlton what is your idea. >> my colleague that it can close out the gap that has with autozone and advance auto parts the most obvious reasons were using our cars more often other things going on driving around queens potholes everywhere more car repairs and also we have a shortage of cars because the problem that's going on people will be stuck with their current cars a little longer needing more repairs. >> infrastructure project goes to plug the potholes i will be lucky. those are great ideas. to check out more look at this week's addition@barron's.com don't forget to follow us on twitter at barron's online, that is all for us, where your mask we will see you next week on "barron's roundtable" ♪ >> from the fox studio in new york city, this is "maria bartiromo wall street". maria: happy weekend all, welcome to the program that analyzes the week that was in helps position you for the week ahead, i am maria bartiromo, distribution

the beginning of earnings season rolling on citigroup expected any minute.hner going to jo us into talk about his new book, weigh in on the economy, politics and so much more ♪ ♪ the moxie showerhead speaker. only from kohler. some companies still have hr stuck between employees and their data. entering data. changing data. more and more sensitive, personal data. and it doesn't just drag hr down. it drags the entire business down -- with inefficiency, errors and waste. it's ridiculous. so ridiculous. with paycom, employees enter and manage their own data in a single, easy to use software. visit paycom.com, and schedule your demo today. do you struggle with occasional nerve aches, weakness or discomfort in your hands or feet? introducing nervive nerve relief from the world's number 1 selling nerve care company. as we age, natural changes to our nerves occur which can lead to occasional discomfort. nervive contains b complex vitamins that nourish nerves, build nerve insulation and enhance nerve communication. and, alpha-lipoic acid, which relieves occasional n

dick's also the former chairman of citigroup former ceo of time warner. republican, right, dick? >> yes. >> are you still a republican would you say? >> i call myself a rockefeller republican and i'm still there. >> does that mean you have rockefeller type money i think it does. >> no. no that means -- you know what it means, joe first of all, how are you? >> i'm great i was looking forward to seeing you and talking to you and in looking at the notes, i'll tell you what struck me you gave the president a b plus and you liked a lot of this stuff. you seem to have a problem with how he's going to pay for it my question was, you know, everything starts with a t now, that's one thing having been at citigroup for a long time you know the t word, it starts adding up after a while. but you don't seem to have a problem with the expansion of government and i'm talking about expansion with a capital e you seem to have more of a problem with how he's going to pay for it, that it's not going to work. have i got that right? or you do have a problem with the big expans

as far as citigroup is concerned i think that issue focused on the wrong issue, we are being focusedthey can't seem to get it right yet. the company has become a capital markets company hopefully, that is where they until the zbrurt that is certainly has been a hot streak for all the banks capital markets with stocks and ipos but you mentioned inflation, we have cpi numbers out this week increase 2.6% year-over-year largest jump over two years inflation concerns mounting as economic recovery is disappearing stronger, you are talking about money supply growth 10 times faster than economy, does that that ultimately put a damper on economic growth expectations? i am talking inflation. >> ultimately it will, again, numbers i have never seen before ever, right i have never seen money supply jump 26% in one year or now -- 15% year over the last two years, i just can't conceive of the fact that that can happen, without -- moving up sharply ultimately it will slow the economy. >> you talk about capital markets, crypto clearly on the rise, coinbase direct listing pushed bitcoin to all-time hi

and the number of people filing for unemployment benefits, and we'll also be getting earnings from citigroupnes. we'll look at how the flying public is doing these days. walmart plans to convert two-third of its hourly store roles to full time positions by the end of this year as it looks to hold onto the workers. the pickup and delivery business has boomed since the start of the pandemic and shows no signs of letting up, prompting walmart to add more full time jobs with consistent schedules. the latest move walmart will have added 100,000 more full time positions than it did five years ago. >>> meantime, google is rolling out more features for its digital assistant, including helping users order takeout from restaurants. google assistant will now fill in contact information and payment details on android phones after you find a restaurant through google search. it's not going to be that much different from what you already see in apps like grubhub and uber eats but it will help you order more quickly. one limitation the assistant can only help with pickup orders for now and only works with

morgan chase citigroup american express and that list just keeps going on and on and just prior to air here major league baseball has announced that it will move the 2021 all star game and m.l. be draft from the city of atlanta due to this law so this raises the question just how effective is this corporate activism we'll call it coming from business leaders weighing in on the political issue and kennett effect change to talk about this let's bring in the host of the news and the exam chaz rick sanchez himself now rick before we get into the corporate angle of this let's talk about this law what are your thoughts on that this is the republican party taking a gun getting the trigger aiming it at their foot and shooting they're literally shooting themselves in the foot they're doing everything possible one can almost help but feel sorry for them this is so incredibly short sighted for the republican party of the united states to send a message to all men. doherty's in america that essentially says we don't want you to vote we are going to make it as difficult as possible for you to vote

will discuss that with citigroup's global markets chief. rishaad: also ahead, we look at corporate governance risk in hong kong that could emerge from beijing's tighter grip on the city's administrative and policymaking. this is bloomberg. ♪ haslinda: welcome back. i look at will features after opec started to reduce production. saudi arabia raised prices for shipments to asia. we're joined by the asian editor for our lives market spot. what were some of the key takeaways from the opec-plus meeting? >> as you just rightly pointed out earlier, one of the most important messages out is the latest opec-plus meeting is that the producers are confident that the global economy will continue to recover from the pandemic thanks to vaccinations underway, and also policy support by governments around the rope. and therefore -- around the world. and therefore, the global oil market could absorb the extra barrels. they agreed to gradually increase oil production. as for opec-plus as a group, they will collectively add more than 2 million barrels a day

. >> citigroup is about to -- its global branch network. $6 billion from the sale of the banking unit. they will now focus on wealth across europe and asia. there are new signs that intel is losing market share to rivals. that unit is intel's most profitable business. lower revenue puts a big dent in the puckett prfment snap jumps in yesterday's session. daily active users beat expectations with quarterly revenue lifted. the owner over the snapchat app says new investment will lead to revenue growth. could it be the end of the era of billionaire owners for britain's biggest football clubs? the u.k. is reviewing and examining different models of owner shep. of particular interest is german ownership where one cannot own more than 15% of a team. anna: back to markets briefly for you. this is what we see across the european equity markets at this point. we had anticipated some selling. we have that in some of these markets but really we're staging something of a recovery. the cac in paris manages to eke out some gains this morning. u.s. future