so is david westin. roone arledge had fomented all these rivalries, not between diane sawyer and barbara walters, but between men and his white male journalists as well. this was part of the roone arledge method, but it was really cutthroat culture. and david westin wanted to show that they were working as a team. and so there was a famous picture that roone arledge had had taken, the seven big anchors of abc, which included barbara walters. well, david westin arranged a portrait of several dozen, maybe six anchors of all sorts to be to show that they were all in this together. and he told them all to wear gray or black. so that they would look like a team they would be almost identical. why do you have to wear mute uniformity? yeah. so they're all lined up. it's of course, you can imagine the logistical of getting this done. they finally get everybody there. diane sawyer, george stephanopoulos and others and in walks barbara walters at the last minute, wearing a bright red jacket. and of course, they ha

thanks to david westin. bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh katie: let's take a look at some stocks hitting highs this morning. we start with defense giant rtx, hitting a 52-week high after beating estimates thanks in part to strong demand for missile defense systems. shares are currently unchanged, some of the gains coming back. you take a look at ge aerospace hitting highs after reporting positive results. the strong showing was driven by an increase in revenue from commercial aircraft engines and services. shares currently higher to the tune of about 6% as the broader market rallies. the s&p 500 currently higher by about 1% but everything could change tonight when we finally get those tesla earnings. bloomberg tech is coming up next. they will be all over it. that does it for bloomberg markets. i'm katie greifeld and this is bloomberg. ♪ how am i going to fin

katie: our thanks to david westin. this is bloomberg. ♪ ♪♪ hello, mia.eady to meet your demise? man, we really need to upgrade your trash talk. ♪♪ nice shot... shot... taker. who programmed you?! i'll see you tomorrow. the future isn't scary, not investing in it is. 100 innovative companies, one etf. before investing, carefully read and consider fund investment objectives, risks, charges expenses and more in prospectus at invesco.com. >> let's take a look at some stocks hitting highs and lows and we will kick off with bmw hitting a 52-week high and sales of the german automakers surge in the first quarter outperforming rivals like tesla. you don't often hear about surging ev sales but you've heard it from bmw. hitting a 52-week low after they marked the lowest delivery since mid 2021. an engineer is alleging company took manufacturing shortcuts on it 787 dreamliner aircraft. boeing shares off by about 2% down by more than 30% year-to-date. that pain continuing today. we want to look at charter communications also hitting lows after it was put on a negati

our thanks to david westin.s is bloomberg. ♪ katie: let's take a quick look at some stocks hitting highs and lows today. boston scientific hitting a 52-week high after a boosted guidance for the full year. better-than-expected first-quarter results. shares of about 6.5%. adidas hitting highs after it was raised to a buy. that's good for a 10th of a percent. deutsche bank was hitting a 52-week high ahead of its first quarter results, now taking a little bit of a leg lower, about .6%. the luxury company morning the profit will plunge in the first half of the year on slow sales at gucci, its biggest brand. it is down by more than 5% over the past two days. president biden set to deliver remarks on the ukraine aid package from the white house. we will bring that to you live when it happens. coming up we have bloomberg technology in the next hour. that does it for bloomberg markets. i'm katie greifeld and this is bloomberg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates

we speak with ryan williams along with david westin. e most basic question did you see transactions go down and have you seen them go back up as far as number and size come back up. ryan: it's in the capital markets freeze right now. lenders, mortgage providers are staying on the sidelines. they are looking their wounds as they focus their attention on the most distressed assets on their portfolio. with the comments from the fed and the outlook is one where we will continue to see a slow trickle of stress and distress. at the of the end of this there will be buying opportunities in the middle-market and the mid-caps space. katie: that's what i'm curious about. when you talk about this freeze i'm wondering if it relates to commercial real estate is there any one sector that's been particularly frozen to others and where will those buying opportunities appear? ryan: office of the large is the sector most affected and impacted. with a lot of return to work policies there is still tons of volatility in terms of how long tenant stay in the pl

susan: it was david westin.ne arledge had been through all these rivalries is not just between diane sawyer and barbara walters spread between male journalists. this is part of his method. it was a pretty cutthroat culture. david westin wanted to show that we were working as a team. so there was a famous picture that roone arledge had taken of the seven big anchors of abc which included barbara walters. he arranged a portrait of several dozen, maybe 26 anchors of all sorts, to show that they were all in this together, and totem pole to wear gray or black so that that he told them all to wear gray or black so they would look like a team. ann: uniformity. susan: so they are lined up, and you can imagine the logistical challenges of getting this done. they finally got everybody there, diane sawyer, george stephanopoulos and others, and in walks barbara walters at the last minute, wearing a bright red jacket. and of course they had saved a space for her right in the middle of this picture. she goes in, she takes her

he spoke with david westin yesterday. lism on the left in the right at a greater extremes so much so that we question the system because that polarity is the picking of people who will fight for me at all costs. it's a threat to democracy, it's a threat to compromise and it is a certain dynamic that comes along like once-in-a-lifetime. david: you even write there's a 50-50 chance of civil war. is that right, 50-50? >> let me define a civil war. you have a situation where you have irreconcilable differences so that there becomes a failure to follow the rules. in other words, let's take january 6. you could see a situation in which you don't accept the results. we are getting more and more not only just at the election but even in decision-making as the state of texas deals with the federal government on issues or we had sanctuary city issues where there may not be agreement on that. these irreconcilable differences like on children and sexuality in education, how should that be? these are not compromise about issues. that g

paschal donohoe joins us from the world bank meetings in washington along with wall street weeks david westinhe spring meetings. david: a lot of fiscal demands but also over in europe. thank you for being with us prayed we heard from the imf warning the united states for off-line money how much fiscal money does your euro group collection of countries have. do they have demands in ukraine to try and help, we also have the climate change. how much is there to address some of these issues? >> there is some but the truth of it is there needs to be more. and we has governments in the european union faced many challenges of needing to normalize policy but at the same time we need to find funding to make our economy screener and our country safer. that's why they're such work underway now within the european union regarding the future of the markets. and as we speak all of the prime minister's of the european union are meeting each other to find ways in which we can accelerate progress in that project to look at how we can make better use of the private savings in europe as we begin to normalize bu

big thanks to david westin.rg. ♪ thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh katie: let's take a look at these markets really at the start of this week it feels like because we have amazon reporting after the bell tonight. that is followed by the fed meeting tomorrow, and then we have apple on thursday. it has been kind of quiet as we await those things. we take a look at how things are looking right now and it does not look too good honestly. the s&p 500 down 0.3%. the same thing if you look at big tech with the nasdaq 100 currently off about 0.3%, 0.4% depending on the exact second i look at it. small moves overall but the direction is lower. we had some really strong showings from microsoft and off about last week. we were talking about the best weekly performance f

katie: that was peter of computer trading and wall street host david westin.ar from carnegie hall executive and artistic director about the business of fine arts institutions. this is bloomberg. ♪ how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. katie: let's take a look at some stocks hitting highs and lows today. chipotle giving a 52-week high after lifting its full-year outlook thanks in part to its chicken promotions. shares of the restaurant chain in the midst of a six-month rally that seem the stock surge close to 70% of another 2.6% today. on the other it did hit a two-year high that was after reported first-quarter revenue that blew past expectations but currently down about 2%. on the others bowing hitting a 52 week low after s&p revised its outlook to negative. the troubled airline with a tumultuous quarter. headlined by its 737 max crisis share. coming up next we had bloomberg t

katie: that was congresswoman haley stevens of michigan speaking to david westin. haass and kathy marcus. this is bloomberg. ♪ katie: new data shows that many etf strategies are actually performing better after they liquidate. joining us for more on this etf friday, the best day of the week, we have emily. really interesting report out by bloomberg intelligence. what does it actually show here? emily: he was looking at a basket of etf's that closed. he scanned this basket and found that on average the lifetime gain of these etf's was about 12%, but in the year after they closed, the average gain was 27%. in addition, he looked at the average performance. if it was a stock etf, it was compared to the s&p 500. on average, over their lifetime, only 16% of these etf's outperformed the respective benchmarks, once they closed, that number doubled. already 5% of the etf's outperformed the benchmark in the year -- -- 35% of the etf's outperformed the benchmark in the year after shutting down. katie: we have poked fun on air before about interesting research -- the etf's ha

christian olson is head of the alternative markets group at goldman sachs, along with david westin. ng forward to this. david: they are in the spotlight can it is not as if we don't know the goods. there is a lot of talk about alternatives and money flowing in alternatives. why now should we talk about putting more money into alternatives, and who should talk about it? >> couple different questions there. i spent the last 25-plus years at the intersection of wealth management and alternative investments, and it has never been more interesting. if you step back and look at what has happened to the private investment world, you are gone from a decade ago having $4 trillion in private investments to know $15 trillion. incredible growth. what is fuel that the past decade has been institutional allocators, pension funds, sovereign wealth funds. when you look at what will fuel the growth going forward, of the $15 trillion in privates, four of that is in individual hands today. a decade from now that can be triple that number. you are seeing incredible movement into privates, and why should

john klein is hang media co-founder and wall street week david westin. e to know how this shakes out. david: jon klein can talk to us and it's a different world since you ran cnn and i was at cbs news. give us a sense or a vision if you can fix paramount, whether it's david elson and sky dance, what's the formula for success for paramount, it's fallen on hard times. jon: i hear prayer works, maybe they can try that. you think of the universe, we all know how the world is going to end, right? the sun is going to grow and grow and become a red giant and swallow up all the planets including ours. that's exactly what is happening in media right now. the tech giants, the apples and microsofts and google and meta and amazon, they're tech/media companies now and are just dwarfing all the traditional media companies. think about paramount in terms of market cap. paramount's market cap is 350 times smaller than apple's, and so it's desperation time. however, think about this. what all of those tech giants have the traditional media companies don't have is technolo

katie: of course, wall street week host david westin.ony james from the metropolitan museum of art and wes edens of bright line. this is bloomberg. ♪ katie: the investment traders of philadelphia conference is underway. eric balchunas is the senior etf analyst for bloomberg intelligence. i am pretty sure that atlantic city is in new jersey, but we don't have to go into that. i'm pretty sure that you wrapped up a cool panel. tell me about it. >> it is a pretty small gathering, but high-caliber. they went ahead to try to track people from new york. people like to come here and gamble a little bit. ac has the beach, although it is very cold. we talked a lot about the bitcoin etf's and the behind-the-scenes of who is buying them.indications are that there are more advisor and institutional interest than we see because 13f's are barely out so far. we have another six weeks of those. that is interesting but everyone is loving it. we talked about the etf share class. that's a bigdeal. if mutual funds have an etf share class it open so much high

david westin, thank you so much. a quiet maine town is bracing for a flood of visitors as eclipse mania reaches a fever pitch. the last u.s. spot in the path of totality. this is bloomberg. when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh ♪ >> a quiet main town shares a border with canada and is mostly known for its farms and snowmobile trails but today it is in the celestial crosshairs as the last spot in the u.s. along the path of totality. visitors have been pouring into town from all over the country to catch a glimpse of the sky in preparation for today that have been years for the making. with us now for more is johanna johnson, the executive director of the seven arista development corporation. johanna, you've been preparing for this since 2020, i believe. what have those preparations look like? >> our committee got together and found out there was an eclipse coming and they started planning by meeting with other communiti

question was larry summers speaking with david westin following that hot u.s.port we can dive a little bit more deeply into that now. we will look at the morgan stanley chief u.s. economist on friday. she was talking about integration specifically and the impact on the labor market. jay powell has said because of immigration, you have bigger economy. not a title i. this was well illustrated in the jobs numbers. the white line. look at that crocodile mouth opening out. stoking wage pressure. you can see the impact on the stock market on friday. good economic news, good for the market. a strong economy expected to power corporate america even if it means rates higher for longer. is bloomberg. ♪ anna: good morning from london. asian stocks follow wall street higher. looking ahead to

bring in david sandolow, columbia university inaugural fellow at the center on global policy, and david westincts is ev. we've had growing indication that a ramping back of demand for ev's in the united states. we have a new data point with tesla. is that a tesla problem that we saw yesterday or broader issue? david s.: thanks for having me. two things are true once. demand for electric vehicles in the united states continues to grow, but at the same time that demand growth is slowing. let's not forget in 2023 there were 50% year-over-year growth in electric vehicle sales. that led to a spate of stories about how growth was slowing down. it shows how high expectations work. in the last quarter we have seen not just tesla but other slowdowns in electric vehicle sales. i think there are a number of factors we can talk about. i point to interest rates continuing to dampen the market overall for new car sales. with electric vehicles prices are just too high. the average price for the electric vehicle is around $50,000. consumers are looking for lower prices. then there is concerns about charging i

insight into how this impacts global supply chains is brandon daniels along with wall street weeks david westin after what we saw this week. dated: a lot of drama. what did you see, what is the reaction so far in the market what we saw over the weekend? >> so there are two things. the first thing is that the market is responding to the bearish oil expectations, so there has been a sentiment that there is going to be a depression in oil demand this year. and so that has eased supply shock that was anticipated, and that has also eased the sort of geopolitical tension impact. so that is one of the major market impacts. but this also is going to start to impact the markets in multiple jurisdictions and in multiple industries. you still have major segments of the market that are shipping through the suez canal and through areas in that sort of middle east region. you have jetta and a lot of major ports in that region, and the major countries that they are still shipping through are in asia, and in particular, india. so you are going to see shipping impacts and costs and inflation impacts on many of

haidi: former treasury secretary larry summers speaking with david westin.hearing parliamentary testimony from the boj governor speaking in parliament in tokyo, commenting on super location of policy, the first year responding to questions about economic settings and saying the economy's recovery enabled the move on policy when the po j off did for lift off. some, suggesting the next rate hike could, in the second half of 2024, the chances of meeting christ target are rising. her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session.

tony james, board of stress -- board of trustees co-chair, sat down with david westin to talk about howeum has changed since pandemic. tony: tony was very hard on the met. lost revenue over two years. that's hard to recover from. a lot of the art scenes in new york depend on tourism. our attendance from locals are all the way back. attendance from tourists are only in the 70's. particularly asian tourists, that's where we are really short. it's a bit of a struggle. we had to find new revenue sources and be careful about costs. as we have discussed in the past, arts are what make new york the gateway city that it is, and it's really important. if you do look at the people who come to the metropolitan museum, how have they changed? the demographics, age, ethnicity, race, pre-pandemic into today? i'm not sure that there is -- tony: i'm not sure that there is a big shift other than becoming more local, but that said, we need to be more appealing to the local community and connect. not just pandemic, but all the horror around george floyd and whatnot, we said we had to do a better job connec

for more in the aftermath of the francis scott key bridge collapse, brenton daniels and david westin ersation i feel we will be having for weeks to come. david: it still one of the top stories around. thanks for being back with us. we've had a few days now to observe as much as we could and the shock of what happened in the baltimore harbor but what do we know now that we didn't know when it first happened? >> one of the things that came as a surprise here was how fragile our infrastructure was. this is coming up over and over again. we are seeing these major supply chain shocks having reverberating effects more than we thought. second, we are seeing continuing operations being impacted for longer than we thought. when i envisioned the baltimore port, it's 4% of the united states maritime logistics. i would have envisioned the baltimore port in a situation like this coming up much faster. it is that critical backbone. what we are seeing is that the supply chain shocks are much more endemic. they're much more impactful than we could have envisioned we have to be better about business c

and we have david westin joining us now. tokenization. to larry fink and he thinks the entire financial world will be tokenized. the first down payment on that. carlos, let me start with the most basic question. for whom is this a better mousetrap? why do we need it? carlos: if you think about how capital markets work you have a number of financial assets. stocks, bonds, funds. the basic functioning as you have to move them. they have to sell them, trade them, redeem them, etc. all those changes are recorded in a ledger. you have to move the security but you have to with the cash as well for settling the transaction. those are things that move in a separate ledger. blockchain is basically like a very good public trip to graphically secured ledger to represent securities alongside with cash in with them in a very efficient way. that unlocks a lot of utility for securities and possibility in settlement. that is what tokenization is essentially. katie: who do you see this as being for? you have raised $280 million since it debuted. do you se

potential implications for the economy is the yellow law school associate professor along with david westin. david: great to have you here in new york. talk about the budget and this is something new you created. >> we are incredibly excited to be launching this week and launching around text day into an incoming text debate. our focus is oriented around trying to provide policymakers the tools they need to do effective policy analysis. i spent the first two years in the biden administration the treasury department where was lucky to be part of a bunch of legislative conversations that were happening around what ultimately became the chips act and the bipartisan infrastructure law and build back better which changed into very -- the inflation reduction act. i realize the importance and the centrality of what are called budget scores. in the legislative process. these scores are essentially like cost estimates. how much is a particular spending proposal going to cost over a decade, how much is a particular tax provision going to raise over a decade? for a lot of stuff that you would be enthu

david: i'm david westin we are joined by larry summers of harvard. you with us on short notice. we've been talking about inflation on wall street week for some time. you've been warning about it. what you make of the numbers we saw today? larry: i was not hugely surprised by the numbers. in an economy that's growing faster with an unemployment rate that has a three handle in the presence of massive and growing budget deficits and epically easy financial conditions, the idea inflation would remain robust or accelerate should not be a surprise to anyone. that's what the data suggests. it was not mere some observer for super core inflation that is taking out the transitory stuff and by that measure above 6% rate and the three-month rate exceeds the six-month rate. and that exceeds the one year. this confirms the idea of the neutral rate is way above the 2.6% level that the fed has been using as a northstar. in my view it puts back on the table it's still not what i would expect but you have to take seriously the possibility that the next rate move will

earlier today, former treasury secretary larry summers reacted to the inflation data and he told david westin that investors should seriously consider that the next fed move is a hike. here's more of what he had to say. >> rate cut in june it seems to me would be a dangerous and egregious error, comparable to the errors the fed was making in the summer of 2021, when it just didn't get the thread on inflation. sonali: let's now bring in the head of economic research for fixed income and macro at citadel in an exclusive interview. he joins us now. when you look away larry summers had to say, how do you feel about the potential for a rate hike? >> i don't think so. the fed has a strategy of higher for longer. we are in that process. let's remember, they hiked rates last july. soon it's going to be almost a year. they are waiting for the effects of those rate hikes to percolate through inflation. sonali: howdy see the lagged effects playing out? >> it's a sequence. it had an impact on the housing market. it had an impact on durable goods consumption. it hasn't had an impact on fiscal policy of pu

neil ferguson -- niall ferguson spoke with david westin about political and geopolitical risks in theiall: you have to take a slightly longer term perspective to understand where we are. if you go back may be to the 1990's, yeah. that period seemed low risk. the soviet union had collapsed. apart from trouble in the balkans with the breakup of yugoslavia and some other trouble spots like somalia, the world by the standards of the rest of the 20th century was pretty peaceful. if you go back 50 years, imagine we are in 1974, that was a more dangerous time than now. i speak with some insiders in the midst of writing about that period as i write the second volume of my biography of henry kissinger. we judge the present by the recent past. the recent past was the period between two cold war's peer the first ended with the soviet collapse. we didn't notice cold war ii beginning but it really began when xi jinping came to power in china. now it is in its second inning and has some ways to go. i don't expect the world to get more peaceful in 2025. david: it's commonplace that the markets don't

sonali: that was bob -- that was robert zoellick with david westin. bloomberg. ♪ the future is not just going to happen. you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future. a future where you grew a dream into a reality. it's waiting for you. mere minutes away. the future is nothing but power and it's all yours. the all new godaddy airo. get your business online in minutes with the power of ai. sonali: the boston fed president susan collins says that she is optimistic that inflation will come down but now sees the fed cutting later than previously thought. she sat down for a conversation with bloomberg's michael mckee. >> the inflation numbers that came in this week where on what i would call the high end of what was expected. if you look at the first quarter, certainly inflation is elevated compared to where it was as we ended 2023, but it doesn't change my baseline outlook that inflation will come down with a healthy labor market. i just think that it will take more time. it is premature t