there was had the doolittle planes aboard. they took the doolittle planes all the world was in charge. gallagher massacre, chief electronics, u.s. navy, 1971, 1991. turn into vietnam and desert storm. welcome aboard. thank you for your service. so apologies for that. somebody get the memo there. all but jose was was in charge of the doolittle raid. they got within about 600 miles japan. the doolittle fires took off all the way back to pearl harbor. and at that point. the infamous asian did the intelligence that nimitz had his very astute linguistic cryptology group in pearl harbor under lieutenant commander. they had broken the japanese code. they knew that japanese were going to try to invade port moresby around the eighth or the 10th of may. there'd be battles in the seventh and eighth and they. king admiral king in washington. his intelligence said, oh, no, it's going to be much later than that, two weeks later. so king knew who ordered halsey to leave pearl harbor on the 1st of may to go all the way to the coral sea and ta

joining as is abigail doolittle -- joining us is abigail doolittle. double whammy of a story. >> some are calling this a crisis for commercial real estate so relative to vornado, they spent their dividend. what it -- what makes it not surprising is that back in the first quarter in january, they cut the dividend in cash by 20% and it was expected they would cut again and they wrote down their portfolio by $6 million. the second largest in new york city and they are bloomberg -- and bloomberg lp is to -- 2% of their revenue. it wasn't surprising they would cut dividend but to suspended for a week, these are stocks known for their dividend yields. the bloomberg terminal shows a 10% dividend yield. that 10% would be an attractive and sensitive -- attractive incentive for an investor. for the rest of the year, it is gone. the question that raises is how bad is it? kriti: people are getting scared when it comes to commercial real estate because they are saying, the falls are around the corner. is this the start of that? or is this a specific story to vorna

it be like the european equivalent of the doolittle raid. yeah, well, i took the squadron commander aside and i told him he came up to my chest. i looked. i mean, i said, you yellow s.o.b. . you knew what this mission was, and you put me in that spot. and i swore that i was coming back. and when i did, if i saw him, i would killing. and boy, did i mean it. well, that was rank and if you've ever heard it, he's a lieutenant, by the way, at the time i. but if he caught marshall bay, he had to fly the mission. so he never said a word. and i never got caught. marshall but when i landed after the mission was scrubbed, i immediately demanded that i be transferred, that i refuse to serve, for under him another minute. and when i presented my case to the group operations officer, he said, look, i can't blame you at all. he had been at the briefing and he was fully cognizant of circumstances and he said, i do need a squadron commander and this other. would you take that position? and i said, well, in new york, better. lucky, some of the guys broke dow

abigail doolittle joining us there. his stockpicking bad?f america and goldman sachs. let's get more insight on this question with ankur crawford thank you for joining us. is this a stock pickers market? ankur: it is, and in part because in times of volatility you want to invest in businesses that are in control of their own destiny. we are excited because this is what we are built for. active management is back. identifying businesses that will generate free cash flow, have pricing power, have product cycles that will drive growth over the next 2-3 years while performing this market. alix: give us an example of something that fits the bill? ankur: nvidia has outperformed in part is because the market is starting to recognize nvidia is the compute engine for the next decade and regardless of whether or not the economy is soft or we go into a recession, the train on ai has left the station and nvidia is the engine that will drive the train over the next decade. alix: is it a tech sector play or across different sectors? ankur: i think it's ac

joining us is abigail doolittle covering all things bank and ripple effects.they caused a frenzy last month, some pieces of the equation or things like western alliance and morgan stanley, what were some of the news we got today? >> morgan stanley is paring some of the law says it started to see earlier in the day. the initial knee-jerk reaction to the worry about net interest income paring off to the worry about the trading figures being below expected. when it comes to morgan stanley here, you are looking at a bank that has been trading more richly than the others to begin with. it's not going to cry about what the stock reaction really is today, essentially flat on the day. western alliance, soaring in the stock market. they have sold off very significantly. the idea of the deposit picture not only stabilizing but deposits coming back in at the beginning of april, a very positive sign for western alliance based on the west coast. people were really worried about the regional differences here among the banks, given the concentration of clients and the deposi

abigail market -- abigail doolittle is trucking the markets.re than two weeks. the nasdaq 100 clearly outperforming. the nasdaq itself is up 2% and meta is up 14%. really just across the board, especially after having such a tough time last year. amazon up in anticipation of a good quarter. a lot of these big tech companies have put up a good quarter. we have bonds down, so it is a risk on day as we take a look at the bond chart. we are going to see that yields are climbing on the day and then finally if we go into the bloomberg terminal, we will see that the pressure remains on. here is the-year-olds climbing -- the yields climbing. keeping on the pressure for the most part. there is facebook up and away on the year but you can see these other big tech companies were up about 20% or so going into the quarter. they are still outperforming. these big tech companies are performing. guy: absolutely and they have been keeping the market alive and so many ways, and terms of the top line index numbers. thank you very much. not done for the day. we wi

i want to bring in abigail doolittle who has been more specifically looking at the trends we have been seeing recently. abigail: we do have the s&p 500 of 7% and the nasdaq 100 up 20%. but beneath the surface, we have complacency beneath the surface. when we lift the lid, we see the is a different story. nvidia up. meta-platforms up now hoping they get more efficiency and the workforce cuts. look at the banks, first republic reporting down 87%. zions down 42%. have to know where you are going. we have a volatility, the vix not -- right around 17. the vix looks out a number of weeks and the new one-day options everybody is talking about in trading. cboe has announced a one-day vix. not a lot of volatility with the s&p 500 down ever so slightly. to make the point, managers and an active manager is outperforming. if we go to the bloomberg terminal and compare the s&p 500 up 8% of value etf of 3%. where we really have the outperformance is all about growth of 17%. earnings will either suggest our tell whether investors have been piling into big tech and whether or not it is correct. outper

abigail doolittle gives us the details.il: it is a very large deal and if you were a shareholder of prometheus friday, you're holding a stock is one -- that was $114 and now it's closer to $200. this is an early stage bioscience company and they don't actually have any drugs which makes it interesting. last december when the stock was more than it was today, they showed good results on an autoimmune disease drug geared toward ibd. diversification is the issue because merck is based around oncology. 43% of revenue is from keytruda but when the patents comes off, how did they replace it? this might be one way to do it and prometheus bioscience pipeline could be worth $5 billion by 2030. this is not the first acquisition recently by mark. they acquired schering-plough for 47.1 billion dollars a year ago and it could be a reason that the shares have -- of merck have outperformed the last year. jon: maybe you had to do a number of deals to offset the loss of such a big drug. i wonder if people will be watching patent expirations

jon: abigail doolittle is joining us with her take, you have the economic headlines and bowl versus fairview -- bear vie w, what are you seeing? abigail: it is interesting. i am not a big fan of saying it is a technically driven this or that. the s&p 500 dropped right below a range, when that happens the technical sleep the fundamentals, if you assume the market is efficient. why do we have stocks down a little bit today? it is on very weak volume, but if the range holds, suggesting the s&p 500 will go back below 4000, probably to about 3900, the range does not matter. upcoming, we have a jobs report when markets are closed on friday. we have earnings. on the other hand, we do not of the s&p 500 will drop back into that range. it could break out to the upside. something worth noting, it is relative to stocks, even though the declines at points have been somewhat noticeable. it still feels like a sleepy day in some ways. kriti: it is interesting you mention the bond market specifically, the move of 11 basis points lower on the front end of the curve. the bond market and stock market, is the b

trading session and abigail doolittle is tracking the news.: this week has progressed this week, the nasdaq is up 1.64%. helped by the big tech giants that put up good quarters, met up 11.89%. banks, another story. kbw bank index down 2.26% first republic is a six dollar stock and there is news that there could be a buyout. we will have to wait and see what happens there. yields on the week, we are looking at a little bit of a rally for bonds. the 10 year yield, excuse me to year yield up after the fomc meeting. let's take a look at some of the movers beneath the service. amazon down 3.23%. a blowout quarter on the surface and the stock had been up 12% but now they are talking about a slow down in the cloud business. snap is down 19%, missing the estimate, add weakness. intel, a good quarter and exxon up 2.42% and finally, maybe you guys have talked about it, if it has slipped through the cracks, here it is. we have the dollar yen climbing 1.87%. this creates a dovish feel for markets given that the yen is down 2% on the day. guy: i wonder if

abigail doolittle is tracking. the bond market is not sleepy.gail: the bond market is not sleepy but stocks are. the fafsa hiking cycle that it is in fact cooling the economy -- the feds hiking cycle that is in fact cooling the economy. it is interesting to see it back below 4%. anything is possible. that is what is happening. what is so interesting here, while we do have this big decline for the month of february, i would point out that the overall trend is also interesting over the last year. job openings are certainly down. supporting the idea that the fed hiking is certainly working. it depends on how much more they think they have to go. clearly here, the economy is cooling to some degree. let's take a look at the sleepy action. the mastec 100 up a little bit on volume that is well below average. you can see a bigger loss for the mastec golden dragon index. the bank index down 1.7 percent. thanks on the year are lower. let's take a look. on the year you have tech up 20% . the banks continue to be down. of course, jamie dimon talking about t

abigail doolittle has been tracking the most for us -- the moves for us.e we been seeing the bleed through? abigail: for the s&p 500, little bit. -- a little bit. the nasdaq up for the first time in three days. microsoft is a big help, up 7.2% and the best day of the year. a great quarter across the board. activision plunging down 10.3% in the u.k. is saying they will lock the acquisition of the gaming company that will create competitive issues within the cloud. alphabet is having a small bid of 1.3% after putting up what most analysts are calling a good print. microsoft was talking about how ai is the future of search. google is wired to old-school search but analysts are saying they are on the ai hunt. the stock is up 1.3%. we were taking a look at the equal weight s&p 500 relative to big tech. microsoft shooting higher on the year, of 23% of the year and google hanging in there and there is the s&p 500 yellow, up 6%. a massive spread between the s&p 500 and microsoft. that people waited s&p 500 up fractionally -- that equal weight s&p 500 up fractional

dani: certainly, abigail doolittle, thank you very much. earnings after the bell will be tesla.rp. banking and tech are in there for you. the beige book will be 2 p.m. new york time. austin goolsby and john williams will be speaking. how do they see the current credit environment of the u.s.? do they want to keep hiking? alix: coming up, the airbnb co-founder will be joining us. to infer that. this is bloomberg. ♪ 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 (jennifer) the reason why golo customers have such long term success is because we focus on real foods in the right balance ahhhhhh so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement makes losing weight easy. release sets you up for successful

abigail doolittle joins us now and it feels like it was a day especially with jobs data where some said that means fewer rate hikes and others said the recessionary risk is front and center in this time to unload the best-performing stocks. what is your assessment? >> there was continued tension between the markets and the fed. on a longer-term scale, it seems folks are either not fighting the fed or they are fighting the fed. bond investors have been fighting the fed over the last year or more. based on what i've heard the federal reserve say and do, they are clearly hiking. loretta mester said the fed is planning on hiking to make sure that inflation goes away and there is a chance it could stagnate somewhere in the current range and they will not take risks. chairman jay powell has said they will be hiking longer even if the hikes at each meeting are shorter but when i look into the bloomberg terminal, we are looking at the possibility of cuts later this year. we've had a back-and-forth where the fed continues to give the same message that they are in tightening mode despite the rece

in many ways it would be similar to the doolittle raid after pearl harbor when we flew over japan.he reason we did that is to show we could get back at the japanese, mostly psychological. that's what an attack on moscow would have been. i would say don't do it not because the russians will escalate but because that's not going to help, ukraine doesn't need that. ukraine is already in the more. ukraine needs to focus on one thing, the defense of ukrainian territory convincing the russians they can never win. biden has never understood that from day one. is thing is about how do i not get blamed for this and how to why not get blamed for this? i am afraid of my shadow. stuart: that is dramatic stuff. i've not heard our president described as a yahoo for some time but that was a breakthrough. thanks for joining us. we will see you again soon. do you remember in 2020 one a suicide bomber killed 13 servicemembers in afghanistan. the mastermind behind the bombing has been killed. ashley webster, who killed him? ashley: isis k terrorist was eliminated in a caliban operation. 's name has n

abigail doolittle is tracking the news. it is about the economic data.gail: it is largely about the earnings. meta up 14%, the best day since early february. going into yesterday's blowout already up 80%. today's big move shadowed by what is already going on. the s&p 500, again a blowout quarter from meta. they raised the two q second-quarter revenue guide and are emphasizing ai bit seeing the ai and metaverse will somehow merge. the stocks is one of the only index is down, down 1%. most stocks in this index are down. there something that i want to point out. i like a pretty chart. ugly charts are not a fan of, but we have an ugly tart with an important message so we will show it. this is the massive rally out of the october lows. the uptrend come up up and away. recently we've been breaking that uptrend below the 100 day and 50 day moving average. that's a fancy way of saying that the near and medium term buyers are not sure they want to be in chip stocks. that's important because chips are in everything that we use so it could be a leading tell on perh

thanks abigail doolittle for joining us. volume is still pretty light.oming bank earnings will pick up steam? that wraps it up for me and dani. coming up bloomberg technology with carolyn hyde and ed ludlow. the s&p just down a touch. free much flat for the day. this is bloomberg. ♪ everything's changing so quickly. before the xfinity 10g network, we didn't have internet that let us play all at once. every device? in every room? why are you up here? when i was your age, we couldn't stream a movie when the power went out. you're only a year older than me. you have no idea how good you've got it. huh? what a time to be alive. introducing the next generation 10g network. only from xfinity. the future starts now. >> from the heart of where innovation, money, and glide in silicon valley and beyond, this is bloomberg technology with caroline hyde and ed ludlow. >> i am caroline hyde. ed: this is bloomberg technology. >> alphabet slumps after report that samsung has considered placing google with microsoft trust being as the default search -- engine. ed: apple'

abigail doolittle will help us get through this sleepy trading session.he nasdaq is up a little more. we have greater gains for some specialty indexes, but all week, even though we have had declines that have been sizable it hasn't felt like much is going on. it is interesting that we had big tech and banks both higher. if you look at what is happening with yields, that should in theory be helping big tech, but that hasn't been the case this week. now we are having a little bit of gains for china tech in particular. this could be weighing on banks. today it's not. go figure. miss -- mismatched action. last year value stocks were doing a little better. this year it seems that despite the weakness we've had this week that value -- excuse me, growth is outperforming up 12%. value is about flat on the year. if growth continues to outperform it suggests maybe the s&p 500 can get out of its trading range. alix: what will be the catalyst at the end of the day? next week do you earnings and cpi. that wraps it up for me and guy, coming up bloomberg technology with

when briggs abigail doolittle. here is a look at what we are watching.e have so much fed speak it waller, messner, logan, bostic and parker. some of them. we also how -- earnings out of csx. and president biden will meet with the president of club you. alix: i'm looking for to that as well. that wraps it up for myself and danny. bloomberg technology with caroline hyde is next. you are looking at trading a little heavy on thursday morning. 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 >> from the heart of where innovation, money and power collide in silicon valley and beyond, this is bloomberg technology with caroline hyde and ed ludlow. caroline: i'm caroline hyde at world headquarters in new york, ed ludlow is on assignment. this is bloomberg.. gs mc jumps despite global slump in chips. tesla risking margins to boost sales all humans. they have been cutting car prices on a near monthly basis and elon musk hinted at more c

abby doolittle is tracking the moves. >> we have this mixed picture for the various indexes.forming. the banks are underperforming. sox is underperforming. let's look at the yield. it has been a wild ride. this is the two-year yield and it does not show the plunge out of the banking crisis. you can see this sideways range. yields are higher, about 4% for the two-year yield. perhaps putting pressure on sox. we have already been here. the s&p 500, doing ok. looking at the range going on for the s&p 500, it is clear the trend for the s&p 500 is sideways. we have a small break. will it be a bigger break? we don't know. it could go higher. and our eyesight rising is positive until it turns down. -- an rsi rising is positive until it turns down. alphabet a-shares are down 3.4%. bank of america is up ahead of earnings tomorrow. state street, down 12 point 4%. off of its lows and this, as a report that earnings are not great for the custodian bank. the worst day since march of 2020. alix: the week -- dani: the week continues heavy with the bank and asset earnings. we will do a hard p

that is abigail doolittle.re, blackstone's profit slid as dealmaking was hit by rising interest rates and banking turmoil. the president and c.o.o. of blackrock joined bloomberg tv earlier to talk about what he sees going forward. >> we are in discussions about a number of regional banks, to partner with them. i think the private credit area is at a golden moment. we do see tightening out there and yet we have this large pool of capital to deploy it, so i think you will see us become much more active. dani: jonathan gray mentioned regional banks we will talk about all of it with sonali basak. you were speaking to him. what were your takeaways? sonali: if you look, blackstone shares are up on the day even though assets under management are below estimates. one reason could be they have $200 billion nearly of dry powder. that means as things get cheaper in the market, they can buy things that pretty attractive rates. key businesses that have some secular wind to them include credit markets. we spoke to john gray

abigail doolittle has been tracking the technical trends for us and joins us now.nd lower, which you have been talking about in recent days, walk us through what you're seeing right now. >> looking at the s&p 500, we have had the vix started trend lower. it is out of its longer-term range. for the vix, a five year range. for the s&p 500, that complacency at small boots we have been seeing, it really equates to the last year, which is interesting. when i think of last year, i think of the big, big selloff. that has been moving into this sideways range. more recently, the s&p 500 has started to break above the top of the range. that is the first move we want to see on a weekly basis. we also wanted to see the rsi momentum indicators stabilize where it is or move into overbought territory on a series of potential higher highs. we have a weekly chart to compare this daily chart two, to see with the messaging is overall. i would say it is possibly bullish. it looks like we are going to see a breakout. perhaps you can even make the case we are seeing one. this is last ye