there is one more cloud hanging over glencore, the investigation by the d.o.j.e investors expect a settlement, an expensive settlement perhaps somewhere down the line. that may make them slightly conservative about what they do in the capital. dani: you menged oil prices moving lower. we saw one drop under $70 per barrel. can you describe the kind of angst that the oil market is showing right now and how tied that is to delta concerns? will: i think it's very tied to delta concerns. this slump we've seen next -- this week has come against a background of added tensions in the middle east with all these two attacks on the middle east. there were reasons for people to be bullish but i think delta dominates. i think delta dominates not so much in the u.s. where the economy so far seems resilient and oil demand, people flying, people driving seems resill yent but china has been extremely determined to stay on top of the violence and has delta outbreaks in many places. the concern is if china clamps down hard on the spread of delta that could really have an effect on

we focus on glencore. increasing its cash dividend and announcing a share buyback. for investors this morning. we talk about that next. this is bloomberg. ♪ anna: welcome back to the european market open. 23 minutes into the european session. things turning around a little bit. now just a little bit more optimistic. perhaps focusing on some of the earnings stories. glencore will pay out share repurchases joining us now is will kennedy, our executive editor for energy and commodities. the glencore shareprice trading just a fraction higher today, but the rest of the commodity sector under pressure. maybe we see the slight move higher something positive in the numbers? >> yes. as commodity prices rose, this quarter, they differed from the other. on course to make a record $3.3 billion this year. on the slightly more negative side, they don't have an iron or business. anna: returning cash to shareholders. whether it is dividends or buybacks, is there a preference here? >> the buyback is a little bit of a surprise. they would focus the terms on dividends. having some fee

glencore announced almost $1.2 billion in dividends and share buybacks today.urging metal prices drove earnings to a record. the biden administration has approved its first arms sales to taiwan. it is selling 40 self-propelled -- to the island. the deal is almost certain to be denounced by china. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> i would expect something between 2.5% and 3% in 2022. i think it is going to be more persistent. it is going to come down, but not as fast as what many people have and l -- have in mind. jonathan: that was jim bullard. from new york city this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. here's the thursday morning price action. about 12 minutes away from initial jobless claims data and america. equity futures advancing 0.25% on the s&p, inching back towards all-time highs on the s&p 500. yields going nowhere, 1.1819% on the 10 year. $1.1848 on euro-d

glencore says it could dramatically increase returns to shareholders going forward. company is cashing in on the high prices for the commodities it mines and trades. surging metal prices drove first half earnings to a record. the biden administration has approved its first arms sales to taiwan. it calls for selling -- to the island, along with kits to add gps to the shells the vehicles fire. the $750 million deal is almost certain to be denounced by china. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> if the outlook for inflation and unemployment are summarized earlier turn out to be the actual outlooks for inflation and unemployment over the forecast horizon, than i do believe that these three necessary conditions for raising the target range for the funds rate will have been met by year end 2022. jonathan: did you get all that? if the outlook is the outcome, this is what we will do. that was vice chair clarida yesterday. pretty s

i want to show you now some video from misty glencore shows a car believed to be tied to that june. 2000igators say that a heavyset man drive. this lexus shot and killed the victim, con blue outside of a home. the gunman and two other men then fled in the black s 3 50 sedan. witnesses told us at the time that the victim was married with three children. police have not released any suspect suspected motive. in this case, the california republican party may endorse a candidate this week in the upcoming recall election of governor newsom. reports say the top contenders for that endorsement or larry elder, kevin faulkner, kevin kiley, or doug oc, delegates of the california gop will take a virtual vote this coming saturday, august 7th once the party makes a decision that candidate would get support in the form of party money, as well as other resources, and ktvu is presenting a debate on wednesday, with some of the candidates hoping to replace governor newsom in the special recall election later this year. you can watch it live on channel two between six and 7 30, the southern california man

we've got a suite of major earnings from headliner names like glencore and bp. leaders take on noble food costs that will deliver to the inflation -- key clues for the inflation debate. we've got unemployment rates at of the u.s., the biggest indicator and whether the economy is progressing there. anna: we will work our way towards that and we know many are focused on the jobs story. nour, thank you for joining us. that is it for the bloomberg market european open. surveillance early edition is next. this is bloomberg. ♪ ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. and there you have it - wireless on the fastest, most reliable network. wow! big deal! we g