david solomon. let's take a look at the futures then after a solid day on wall street. the handover to asia, though, was more menifield. you were down on the -- more mixed. you were down the on the nikkei and more mixed on mainland china and maybe ease up on property curbs. the futures as you can see are pointing just slightly lower in the session. here now you have the open just a few seconds in. the ftse 100 is currently flat in the first few seconds of the which will be looking across the financial sethor on the back of a rising yield trajectory. what that means for technology as well. you had the strongest dollar in a year state side. that continues the strength for the dollar. yields above 1.6%. down .2% on the ftse 100 down 16 points. spanish ibex lower by .1%. the german dax as well also flat. we will have a look at the cross asset and see how things are playing out particularly in light of that inflation print out of the u.k. a near decade high. 4.2% year on year for the month of october. wh

with the world -- when did david solomons of the world say to get out of assuming pool, we should payon. matt: it is an important comment. the entire interview francine did with solomon was really interesting for investors in these markets, measures for people watching the banks performance, but a fascinating market conversation. when the ceo of goldman sachs says it is time to go, it might be time to go. it is not like he is going to make money, it is not like he is shorting the market and looking for to go down. he is giving you some legit advice, if ever he has. amanda: totally agree with that. matt: good, we are in agreement. that is rare. 10 for the stock of the hour, the power of amazon is being felt today in the credit card industry as processors fall following amazon's threat to stop accepting u.k. issued visa credit cards. predictive debt is a look. -- prita gupta is taking a look. >> the ideas those seeds are getting higher and higher. you go to amazon or any other retailer and use a credit card, the company charges you a pretty big fee. especially over in the u.k. since the

david solomon warns that greed is outpacing fear, and it will not last. from new york, i'm alix steel, with my cohost in london, guy johnson. welcome to "bloomberg markets." it is the rivian, lucid nuts rally, but it is also retail. target not great, tjx really good. guy: it is worth paying attention to because it goes back to the narrative we have been talking about for some time. what happens with the supply chain story? if you are indicating that you are having any issues in terms of margin compression, the market is punishing you. the walmart numbers looked pretty solid yesterday. compare and contrast with home depot. no problems there. they can pass it all on. margin squeeze is where the issue is for retail now. alix: the home goods segment, on the home depot/lowe's conversation, was up 34%, as the refurbishing story continues. you are welcome, tjx. guy: it is funny. we have been having this conversation over the last couple of days. i don't know anybody that isn't spending money on this kind of stuff right now. there was this idea that we were going

if you recall earlier this year, ceo, david solomon, the best he could do was try to ensure people dide to work saturdays. it was not a blanket, but i will do my best. everybody is recognizing they have to be mindful of what people want. there are options for young people in the financial services sector. you can go to exciting new startups. there are jobs in the crypto space. there is a lot of competition for talent. dani: thank you. i want to know what you would do with your sabbatical and what beach you would be on? manus: i would be bored for six weeks. one line from solomon when he was of the new economy forum, he said it is nearly 50% of goldman are under 30. i would need to fact check that, but there is one wonderful piece people often miss. it is about a network you create. there are people doing better than me running investment banks that i knew when i was 24. it is about the infrastructure come on the network, and the people you connect with in a marketplace. you cannot buy that or get that at smaller startups, it does not exist. dani: that is the reason behind the argument

and then, david solomon. i will be speaking to him for about 25 minutes.e goldman sachs chairman and ceo. here is laura wright. laura: president biden and president xi highlighted the need for cooperation in their first face-to-face virtual summit. the videoconference lasted more than three hours covering topics such as trade and the state of taiwan. conversation was open and respectful. president xi said the countries should not engage in winners and losers. e.u. may ease restrictions on state aid for the semiconductor industry. the eu commission could agree to a new policy when it meets on wednesday. a draft of the policy paper -- the french calling for more intervention to overcome the global supply crisis. boris johnson has said it would be perfectly legitimate to suspend parts of the brexit deal with the eu and the u.k. is demanding -- is demanding a major overhaul due to the impact on northern ireland. suspending the deal risks to be a retaliation from the eu but the prime minister says his government still wants to negotiate a solution to the escala

jonathan: i didn't know david solomon was such an economist. on the one hand, this.e hand, that. it was actually a great conversation at the new economy for them over in singapore, but come on. tom: the printable owner of the company said we need to be present in the pacific rim, whether it is beijing or singapore, and we have the courage to do this with the singapore government during the pandemic, and it is really important conversations on stage and off stage as well. that was, jan hatzius was taking notes. [laughter] jonathan: there's a chance there might be a tantrum. there's a chance there might not be. lisa: he actually did say something, though. tom: oh please, lisa. lisa: he did. when he said they are periods of time where greed has far outpaced fear. we are in one of those periods. my experience says those are not long-lived. the question is what is going to stop it. that is actually saying something. jonathan: i said it was an otherwise good conversation. just looking at fairly specific parts of it where he said something without saying much at all. tom: w

guy: david solomon yesterday was talking about the fact that fear and greed are out of whack, that greedsically in the drivers seat right now. you are talking about looking at alternative ways of valuing some of these assets, and maybe people will say that sounds exactly like what we were talking about a 1998 and 1999. anastasia: i think there's definitely performance chasing. there's a lot of greed that has crept into the markets. you look at something like call buying. call options, we saw the net buying in the top 2% since 2000 the other week, so there is definitely some aspect of chasing here, but you have to step back a little bit and go back to crypto for a minute. if there's 100 million dollars in bitcoin and blockchain, is it going to go to $200 billion, $300 million? i think the answer is yes it will come over time. i do think that potential adoption curve is pretty significant. so maybe near-term you can make an argument for a lot of the assets, not just crypto, but equities, semiconductors, software, maybe that has run up a little bit. it is a little bit too stretched. so i wo

david solomon of goldman sachs thinks that greed is outpacing fear right now. of people are concerned about valuation. you see the ev stocks taking off, these hyper growth stocks, the rivians of this world, now worth more than volkswagen. what does that tell you? mark: there's certainly a lot of capital sloshing around in these markets at a time when, longer-term, growth projections would be normalizing. so there are still people willing to pay up for growth. we would suggest that the places you want to look for that are indeed the areas like clean energy, energy alternatives, where both china and the united states, as 55% of the world's largest carbon producers are now on track to cut emissions by 2050, there's a lot of regulatory policy support in these areas, so i think it is a mix of large amount of capital flows, but also this positioning for where the growth is going to be exceptional over the decade ahead, and that is one of the things that we cover. but i also just want to come back to valuations. we really saw the third quarter earnings as a test, and

david solomon and the ceo of dbs all weighing in.big interview with the prime minister of singapore rounding out later today. south korea and japan coming online. let's turn to sophie for how the markets are kicking off. sophie: the nikkei extending gains for a fifth straight day as stocks are hitting fresh record highs like toyota and nissan. this is a package from the government set to include measures to shore up japan's domestic supply of semi conductors. we also have october data to digest. it is the slowest base -- slowest pace of growth since january. given the widening rate of pictures between boj and other central banks. also on the data from japan, we did get machine orders coming in unchanged after we saw that data point for the month of august. gains pushing above 3000 as they march elections come more into view. morgan stanley has lowered its 2022 target for the korean benchmark. they do expect low volatility but we are seeing weakness for the kr w against the greenback right now. searching the mood for sydney, australia

david solomon has so many researchers at his disposal. he's a sharp guy. we're in a later stage of a bull market. this bull market is really old if you take out the covid dip we had last, you know, last year. you know, we got that big correction and then an immediate move up. but here's the thing, people who hear late stage start saying, well, maybe i should start taking some money out, and that, i believe, is the exact wrong thing to do right now. we have got to see some signs that we're topping in the market before you start pulling money out. you could have pulled money out in 2016, 2018, lots of different times. i do not think now is the time. i think we have a little bullish run left. stuart: well, you've got me worried here, d.r., because we've got inflation, and we've got a federal reserve that sooner or later has to take some action or the whole thing spirals out of control. maybe then you'll see a nasty pullback. that always worries me because that fed intervention seems to be very close. >> and it's a huge thing to watch for, stuart. and here's o