tom: david wilson, thank you so much.important is the massive discontinuity between individual company ups and downs in the index reporting. the rotation has been not so much historic, but original. jonathan: morgan stanley on top of that the past couple of days. 82% of sb 500 companies have had a 10% drawdown this year. apple reporting earnings. october 28, right now the most bullish on the street. we've got atlantic security at $190. dan ives is going to join us a little later on, at $185. tom: that is important, jon. everyone is ratcheting up over a different news flow. you really want to stay with us for this conversation because we will frame out the trillions, if you will. did you see that amazon and apple are going to invade los angeles and take massive amounts of square-foot real estate in l.a. in the entertainment business? they are going to do apple this and amazon that. jonathan: that is helpful. lisa: i just want to give you this detail. we were talking about the $19 cloth for apple's new product. it is sold o

[laughter] david wilson, thank you. tom, give me a chance. has embraced the view that inflation is transitory. we believe corporate profit forecasts are vulnerable. lisa shalett says this, especially if consumers translate into higher spending. lisa: i find it fascinating, the idea that consumer confidence has been going down as inflation has been going up. that's why we hear that on friday, that retails sales number be the most important number of the week. could we get a disappointment because people don't want to spend so much more money on goods? jonathan: cpi tomorrow, retail sales friday. tom: these are really important. what it means is you have to recalibrate growth. atlanta gdp is now under 2%. was it blanchflower, i can't remember, talking recession? we may be up for a combined cbi retail shock -- combined cpi retail shock. jonathan: coming up, alicia levine, bny mellon. advancing all most 0.1% on the s&p 500. yields advancing, 1.6014% on tens. from new york city, heard on radio, seen on tv, this is bloomberg. >> i'm dani clevenger

david wilson, thank you so much. losing at a greater level. as long as we do not mention the mets. a great sports weekend as long as you do not mention the mets, and then you did. tom: of course i mentioned the meds. lisa: the mets are actually a financial story because: -- cohen owns them. he has lamented them. jonathan: we are doing great. we won yesterday. good stuff. tom: it was a devious plan on my part. i brought up the mets just to get lisa going. she sat in every seat at citi field. what does mr. cohen accomplished in the first year? lisa: deep frustration. perhaps it is described by outlook, perhaps a little less optimistic. jonathan: on a serious note, he weighs in on an important note. it does not make much economic sense. the more likely behaviors are to change. he is right, tom. the longer this process, the more they could become a real thing. tom: all the people that we talked to, they all have a single skill. the single skill is game theory, identifying the dynamics. that is what he is talking about their, the ramifications to a

david wilson come ago -- david wilson, go.mpare it against all of the other automakers in developed markets as were present at by the msci automobiles index. tesla is equal to all of them combined. tom: how much did gm grow yesterday? david: 1.5%, basically. if you compare that to the total market value of all of the other companies in the msci world index, you find that one days worth of increase in tesla exceeded all of the other total market, except for toyota, ad $281 billion. tom: is this on electric cars? how to the other electric car people respond to this reality? david: it is clear that they are spending a lot of money to catch up with tesla. we know general motors and ford are doing that. it is a matter of how the industry is shifting. you could argue that tesla is ahead of the curve. does that make the company a $1 trillion business? does it make elon musk 50% more valuable than jeff bezos, the founder of amazon? these are the kind of questions that come up with the valuation of tesla in what it is at this point. li

tom: david wilson had that great bar chart.was a negative bar chart with amazon decisively more negative on the earnings markdown. same idea. jonathan: we are positive 1.4%. lisa, i think this was the morgan stanley call more recently on amazon. the price target cut more recently. they are still bullish, but the price target cut was off the back of some of these labor market jitters. lisa: the idea they will have to pay more to some of their above one million employees, and the fact that this will cut into their bottom line, and then you get the likes of facebook with 60,000 some employees, they don't have the same pressures. tom: they are going to pay more, and 82.7 percent is going to go back into buying on amazon. jonathan: it is true, tom. what did jeff bezos say after that nice little rocket trip? what did he say in news conference? i would like to thank the staff and the customers for helping to make this happen. we joked about a lack of self-awareness a little bit earlier on in the program. we've got a kindred spirit the

tom: as always, david wilson is with us. what you have today? david: today it is about bitcoin.s first u.s. exchange traded fund, the proshares bitcoin strategy etf coming out. it is not really the first of its type. go back and you look at the u.s. oil fund as an example. it is another etf set up to own futures contracts as opposed to the actual asset. that is the with his proshares etf is organized. the history suggests there's a real challenge in terms of keeping up with the performance of the underlying asset. west texas intermediate for the oil fund, you look historically at their perspectives, and it says they want to be within 10% of the average daily price change in wti over a 30 trading day period. tom: what does bitcoin say? david: as far as that goes, we will see how they set it up. for the moment, what is interesting is if you look over the history of the u.s. oil fund etf, which goes back to 2006, it is down 90% over that time, and you are not seeing anything like that with crude. certainly did last year when it turned negative, but at the moment it is up 20% over t

david wilson on hydrocarbons. quickly, link in the oil rigs and all the rest of it. is saying is if you are richard bernstein advisors, there is underinvestment in the oil industry right now. he looked at this ratio. baker hughes provides a weekly count of u.s. oil and gas rigs that are operating. he compared that to the price of crude. when you go back and look at that, the latest reading, roughly 5.5 times for a ratio. look all the way to 2010. the average, more than 12. we are way down from where we have been. bernstein pointed out, this was all on twitter the other day, that you are seeing readings similar to what you saw in the 2000s, when energy was the best performer among the 11 main industry groups in the s&p 500. tom: in your reading right now, is 100 the new 90? david: it is sure looking that way. you have much more of a focus on oil at this point. this was an unloved asset for a long time. now that it is rallying, it is definitely attracting more attention. tom: kevin tynan joins us with bloomberg intelligence. i want to dovetail this in. you had tesla wi

. >> reporter: and david, wilson and abdelaziz are to be sentence in the february. their attorneys say they'll appeal this verdict. >> trevor, thank you. tonight, the justice department says it will not pursue civil rights charges against the police officer who shot jacob blake in kenosha, wisconsin, partially paralyzing him. tonight, the reason why, and here's our chief justice correspondent, pierre thomas now. >> reporter: tonight, the justice department announcing it will not prosecute the officer who shot and paralyzed jacob blake. an incident which sparked riots that rocked the town of kenosha, wisconsin, in august 2020. blake's shooting caught on camera -- [ gunshots ] becoming part of last year's spring and summer of racial unrest following the death of george floyd. >> i didn't want to be the next george floyd. i didn't want to die. >> reporter: police claim blake was reaching for a knife. and tonight, the justice department saying, the evidence obtained is insufficient to prove that the officer willfully used excessive force. blake's shooting led to another

david wilson right now on a friday, what do you have to reset us properly? be talking about spacs. clearly that particular deal has gotten people's attention. there surging again today. -- they are surging again today. the chart looks at what we have seen in recent history because there is this index spac. it tracks the blank check companies that have not found a company to buy yet into the company that comes out of the deals like we work that just went public yesterday. since highs in february this index is down 44%. a gain of 13.5 percent for the russell 3000 shows you how out of favor specs into the companies they have been buying our lately. tom: you have decades of experience. have you seen anything like this before? david: i can't say that i have. spacs have been around but they have become especially popular. tom: where is the transparency? do we know what we are by? --we are buying? >> every time i think meme traders have gone into hibernation, they prove me wrong. david: you could make that argument when you look at this deal. it is not like other tr

right now we go to double declining david wilson, looking for investment, capex, and the rest, and tontage of a phrase -- and to take a phrase, double dividing divestments. dave: companies will have to save money wherever they can. you figure from there that things will actually get newer. i say that because the government puts out an annual figure on the age of fixed assets, buildings and so on. tom: i am a fixed asset. ferro isn't. continue. [laughter] dave: that number, every year since 2001, and since two years longer, the record since 1940. tom: this folds right into the infrastructure debate in washington. that overlays right on top. dave: look at it from the company perspective. capital spending, if you look at the first half, peaked in 2019, and it kind of drifted at lower levels since then. so the issue is when you get a renewed interest in investing in fillings and equipment and whatnot. tom: dave wilson in his earnings season over the next three weeks. right now, oil. stuart wallace years ago deciding that we would have the best oil team worldwide, and part of that is will

david: dave wilson put out a chart yesterday, if you look at what predicts all six of the last six recessions, it is actually consumer sentiment, consumer expectations. and if you look at the paper i have coming out, that turns around april or may. it looks identical to what happened in 2007. these data are precisely what explains six of the last six recessions and nothing else does and there are no false calls. the question is, what is going on. question is it is about the spread of covid p we sell this amongst women who are fearful -- covid. we saw this amongst women who are fearful to go back to work. we saw this in the 18 to 25-year-olds and 18 to 45-year-olds. it is women being fearful. it would not be surprising to see false and retail trade. all the other data is completely messed up. this data is the best you have and it now is flashing red. lisa: we had the participation rate, labor market, and the issue of the importance of consumer sentiment surveys which have been called into question by some people. others would argue that if you look at other surveys it shows a different picture

here with the largest weekly outflows, bloomberg's dave wilson. david: thanks, guy.e got the usual suspect leading the parade come of the s&p 500 spiders with the outflows. beyond that, you see select sector spiders for health care and industrial companies at the top of the list, along with a 20 plus year treasury. beyond that, what is interesting is what is happening in terms of leveraged products, you might say. you have volatility shares coming out with a couple of exchange traded notes that track velocity shares from credit suisse. they kinda blew up in the last few years, and one of them only trades at the counter -- trades over the counter at this point. everything that was old is new again. alix: i feel like that as a reference. guy: that make me feel a lot better, before you get that dive in. alix: i already got it in. we just did it at the same time. also, take a look at what is happening in the gasoline natural gas market. coming up, we will break down some edge visual stock names and look ahead to earnings with sarah hunt. this is bloomberg. ♪ the comforta

david: rob wilson, you're great. we were short on time, thank you very much for being here.nasdaq, on the other hand, is in the red as rising bond yields put pressure on tech stocks. more coming up. ♪ ♪ (vo) while you may not be closing on a business deal while taking your mother and daughter on a once-in-a-lifetime adventure — your life is just as unique. your raymond james financial advisor gets to know you, your dreams, and the way you care for those you love. so you can live your life. that's life well planned. this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each with a time and a place they've been promised to be. a promise is everything to old dominion, . . you'll find a better life. it all starts with the most innovative technology. like the new miracle-earmini, available exclusively at miracle-ear. so small that no one will see it, but you'll notice the difference. and now, miracle-ear is offering a thirty-day risk-free trial. you can experience better hearing with no obligation. call 1-800-miracle right now a

i along with david bonior, frank wilson, speaker pelosi, who was a member like me, just not in leadership then, she was nine leadership, we all joined together and criticized the delinking in a very powerful way, saying, let's trade. let's have engagement. let's make sure it's with conditions that respect the fundamental freedoms of people all china, we do not think it would become a problem, but it was a great model of what they could evolve into. they delinked completely, and we had a conference, and c-span was with us there as they are today, and that was may 26, 1994. i and others spoke out then, that they have taken out a measure, with human rights. we have not gotten them back, ever since. hopefully we will have an opportunity to make that right for our complicity as well. for the corporations, if you could speak further on that. right where the three of you are sitting, in february of 2006, i chaired a hearing with google, microsoft, yahoo!, and cisco, about their surveillance and complicity with the chinese communist party in copying up -- coughing up names and identifiable inform

. -- dave wilson has all the details. davidd moving to the equivalent of hold frombuy, and they are focusing on the radio chip frequency business of skyworks. that is basically how cell phones communicate with semiconductors. baird is figuring growth across the industry slows to some thing like 10% this year from more than 30% last year, and even more of a slowdown after that. so that is one piece of the puzzle. the other piece is the story we reported out of apple. people familiar with the matter saying there may be cuts coming to iphone production this quarter, as many as 10 million phones. they were targeting 90 million, according to our reporting, talking about an 11% drop. this is a company, when you look at skyworks, that is really dependent on apple. you are talking 50% of revenue, and the second-biggest company, samsung, only about 5%, based on our supply chain data. that tells you how important apple is to skyworks. put it all together, and it does become an issue for this company. alix: what about other apple supplier

wilson, thank you so much. so striking to hear your - much. so striking to hear your memories of sir davidlking about the changes that have developed sadly for the worse in the last few years in terms of security, social media, all the issues that will doubtlessly be discussed over and over, sadly, in the coming days and weeks. to the point about security, a few words coming through from the home secretary. priti patel saying, questions are rightly being asked about the safety of mps. she says, she will provide updates in due course. the home secretary saying questions are being asked about the safety of mps. interesting as well and good to be reminded by rob wilson, it is about their staff as well. it isn'tjust the elected representative, it is about the constituency office managers, all those who run their offices on a day—to—day basis. they face problems as well and they need to be thought about as well. that is a striking point rob wilson made. let's get more from our political correspondent pete saull — what more can you tell us. we reflect on shock and sadness and striking that the p

jane harman of the wilson center joining "balance of power" and david westin.to radio. 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 out more at aerotrainer.com. that's aerotrainer.com. >> from t