that is what gina martin adams another's are going to do.y are going to go inside the data and look at the interior of the company, and what is the pricing power segment to segment. in their case, beauty not so good. shaving care held up by jon ferro, really good. jonathan: clearly shaving so much. here is the conversation where it starts. how much of those sales fall to the bottom line? the pricing power story has held up through this year. there has been some confidence that s&p 500 companies can continue that trend into next year. that is what will settle this battle between the bears and the bulls right now in this equity market, with the guidance through earnings season looks like, and it looks like some price hikes are coming again. tom: we are going to focus on all of the sectors and the major companies like pg, away from the romance of apple computers. we can add value there, but there's more out there than just the big five. jonathan: apple has their own difficulties. they've got the demand. they can't get the supply because they ca

bloomberg intelligence, gina martin adams.t go to cash, you want to participate if you want to play the game. much more from her through the week and her wonderful team at bloomberg intelligence. lisa, what are you looking at? lisa: i am watching the initial jobless claims. there is a good point made where he is talking about the understanding behind these headline numbers. you have some jobs hard to fill, companies that are paying up, and others like the auto sector that are having temporary layoffs because they do not have the supplies to build the car. why it is so difficult to parse out the noise from the signal underneath the labor market data that is coming in better than expected. i think it is important to understand the nuances. tom: the labor market is coming in better than expected. this is separate from what we just talked about. it goes back to the fundamental debate day today, which is the two or the three america's. there are two conversations. lisa: to that point we have the lowest number of continuing claims b

i want to get back to gina martin adams joining us now. na, obviously these mandates are certainly having an impact on workplaces, on parents. are we seeing it play out in the markets? gina: what we're seeing play out is more than the delta variant than we are seeing vaccines. we did see over the course of the summer as infections were rising due to the delta variant spreading, we saw a rotation to much more defensive plays in the equity market. domestic stocks outperforming, tech outperforming. then once the rate of infections started to peak globally and turned her down near september, we have seen the reverse. we have seen some cyclical sectors, inflation plays a star outperform in the u.s. market, and we have started to see none domestic groups start to outperform again. so as much as the market has been down in that period of time, the rotation that we have experienced is very consistent with infections specifically. so to the extent that vaccines ultimately prevent another potential fourth wave in the winter, that would be amazing for

gina: and i'm gina martin adams, in for taylor riggs.aroline: we are near the weekend, so today's we will -- today we will focus on bond -- singular. james bond. the movie becoming the biggest release since the start of the pandemic. we will not only dig into the box office, but live performances at the met, making its stronger -- strong return. not much of a return for jobs though, for the industry. romaine: you saw those leisure and hospitality jobs, our tent entertainment -- the service economy is sort of getting rebooted. this was the pandemic loser, when we went into locked down. a lot of jobs were lost as a result. we are now crawling back into some of those jobs, and it appears that people are not only wanting to get out, but they are willing to spend a little bit more and spend more time out, much more so than what they were doing re-pandemic levels -- pre-pandemic. caroline:caroline: have you been to the cinema? romaine: i have not. we will talk to peter delve a little bit later, but right now we will talk to lisa reese -- alici

a quick look at the markets, gina martin adams of bloomberg intelligence joining us. obviously this vaccine for kids and these mandates are having an impact on workplaces. are we seeing this play out in the markets? gina: what we are seeing in the markets is more the delta variant. we did see over the course of the summer was as infections were rising due to the delta variant spreading, we saw a rotation into much more defensive plays. domestic stocks outperforming tech and other sectors. once the rate of infections globally -- peaked globally, we have seen the reverse. we have seen cyclical sectors, inflation starting to outperform and we have started to see nondomestic groups start to outperform again. as much as the market has been down in that period of time, the rotation we have experienced is -- to the extent vaccines ultimately prevent other potential fourth wave in the winter, that would be amazing for the cyclicals group and nondomestic segments of the global economy which tend to perform best in that environment. emily: in the broader markets, we sawtek marke

again, this is like gina martin adams territory. futures are up 17.athan: as you've said, what your phrase of the year, companies adapt. you kept saying it and companies continue to adapt. tom: what's so important here and i give our team a great credit, we should talk about earnings with companies because it actually matters. the media is so short-term in its view on equity performance and i'm not saying we are drawing it out to a three or five year vision, but it would be nice to begin the summer of next year. jonathan: separate the equity market from the business. we talked about the resilience of this market. we can get into that another time. let's talk of the resilience of corporate america. lisa: the idea they could pass along a lot of price hikes and consumers will keep buying. margins have held in much better than expected even if you see these higher material costs. the issue i have is -- and one of the big question marks is if they pass along higher wages, at what point does this bleed into persistent transitory or whatever you want to call

beginning of earnings season, it will be interesting to see what david wilson reports, and also gina martin adamserg intelligence as well. this is arguably the conversation of the day on what so many of our themes are. he is the chief global economist at morgan stanley. seth carpenter joins us this morning. one of the great themes of the global goals -- the global bulls is asia to the rescue. not so much china the rescue, but a broader pacific rim. with all of your research, all of the work that stephen roach set up for your shop, can it be asia to the growth rescue? seth: i think there are two parts to that question. i think you highlighted the difference between china specifically versus asia more generally. we are not looking for china to be the engine that pulls the global economy forward. we are looking for about 5.5% growth next year. we think the slowdown that has happened and that happened in q3 is very real, but overstates where we are going. some recovery there, but only moderate growth next year. the way in which it could well be asia to the rescue is the other key story people are tal

i will defer to gina martin adams, david wilson, and our great equity strategists who come on the showbut to me, it is earnings glass half-full. jonathan: another developer hitting the wall. chinese home prices falling for the first time in six years. there's a real slowdown developing their. tom: i want to listen to leland miller and others about the real pulse of the chinese economy. i will be honest, i am simply confused. jonathan: tom is not the only one. we are all confused at the moment. lisa: not just on the slowdown in the housing market, but the ripple effects for the broader economy globally. consider the fact that the housing market in china counts for about 1/3 of the overall economy. it shows a deceleration in one of the hottest spots in china's economy for many years. jonathan: when things get tricky, what do you do? you change your name. did you see that report in verge? facebook looking for a name change. i still call google google. i don't call them alphabet. tom: i've heard three reports. to me, the alphabet of facebook's meta-verse, let's start with that. what is met