the other is the hermes. that both have been weaponized in drone strikes dating back to 2004, probably. how many drone strikes have taken place since then? dozens, hundreds? there is not any consistent data out the. we have many media monitoring organizations watching the cia's every move in pakistan, somalia. no one is doing the same for israel in gaza and elsewhere. ♪ >> israel has not only exported its drone technology, it has also shown the world how to use it, to deadly effect. in 2004, the cia began its own assassination program in afghanistan using predator drone's. their operations mirrored those of israel and gaza. >> it was copied almost 100% from the israelis. they did it using the same technology, but the specification was a little different. >> israel had begun its own targeted killing program in november 2000, just a couple months after the second intifada . a sustained killing program. the united states, britain, and other allies of israel routinely condemned israel for those targeted killings.

the hermes for 50. you a yes log more than $150000.00 operational flight hours. in more than $20000.00 successful combat missions around the globe. israel's assassination and other military operations have been used weights, arms, industry to showcase products and attract future customers. so a home, i wish my nothing for me to say them will not be for we will be with enough people to mostly with the this sketch of law, this automated explicitly visual mark over what can come in florida will be to the list for this graph. 1 for them to do some to do one up in fixture reveals that are in the, on the look what for the month of our mission said before this, about this in the 2 of the machine which i'm receiving, load them onto the hook them from foot was me over the last decade, just been increasing evidence to show that israel doesn't only jersey for surveillance, but also deploys in as platforms for offensive weapons using drones to launch spike anti tank missiles at human targets. yet, israeli officials continue to deny this. they won't even confirm that the coun

the hermes for 50 you a yes, log more than $150000.00 operational flight hours. in more than $20000.00 successful combat missions around the globe. israel, this se, nation and other military operations have been used, weights our industry to showcase product and attract future customers. so home, i don't know nothing for me to say they will not be for we will be with enough people to mess with it before the sketch. of law, this automated explicitly visual mother will, can come in florida will be sent to the list. so it's a graph. 1 people in your book went up in a sense of fiction movie any on the look of what was said before. the took him to found the 2 of the machine which i'm receiving them. a lot of them hooked them from foot was me over the last decade, just been increasing evidence to show that israel doesn't only jersey for surveillance, but also the plays in the platforms for offensive weapons using to own to launch spike anti tank missiles at human targets. yet, israeli officials continue to deny this. they won't even confirm that the country's armed for

there hermes, for 50 you a yes. log more than 150000 operational flight hours. in more than 20000 successful combat missions around the globe, israel, this as a nation and other military operations have been used. rates are industry to showcase product and attract future customers. so a home to use them unless somebody will not be fully with be with them up enough. mostly with this discussion, this automated, explicitly visual mother will can come in florida will be sent to the list. so if it's a graph. 1 in your book went up in fiction movie any andre a little further took out what the mission said before the took him to of the machine which i'm receiving them. a lot of them from foot was me over the last decade, just been increasing evidence to show that israel doesn't only jersey for surveillance, but also the plays in the platforms for offensive weapons using drones to launch spike anti tank missiles at human targets. yet, israeli officials continue to deny this. they won't even confirm that the country's armed forces have any attack tools at all. needed in

the hermes for 50 you a yes. log more than $100.00. $50000.00 operational flight hours. in more than 20000 successful combat missions around the globe, israel, this se, nation and other military operations have been used weights, armed industry to showcase product and attract future customers. my saw a home nothing for me to save and will not be fore we will be with enough people to most of the sketch of law. this automated, explicitly visual mark over what can come in florida will be listening to. 1 people whom you're doing well up in infrastructure reveals that any on the look what was said before they got this him found the 2 of the machine which i'm receiving them. a lot of them hooked them from foot was i me over the last decade, just been increasing evidence to show that israel doesn't only jerseys for surveillance, but also deploys in the platforms for offensive weapons using drones to launch spike anti tank missiles at human targets. yet, israeli officials continue to deny this. they won't even confirm that the countries armed forces have any attack towards adult

the hermes for 50 you a yes. log more than 150000 operational flight hours in more than 20000 successful combat missions around the globe. israel's assassination and other military operations have been used weights, arms, industry to showcase products and attract future customers. so home, i wish my nothing for me to say them will not be fully with will be with enough of us. see most mostly with the schedule to reflect that new visual mark him come in florida will be to the list. so it's a graphical. 1 him for them to do some to do one up in fixture reveals that in the, on the look what for the month of our mission said before that took them from the 2 of the machine, which i'm receiving, load them onto the hook them from foot was me over the last decade to spin increasing evidence to show that israel doesn't only jersey for surveillance, but also deploys in as platforms for offensive weapons using drones to launch spike anti tank missiles at human targets. yet, israeli officials continue to deny this. they won't

hermes: [carraspea]spea] - buenos dÍas, betty. - hola, patty. - ¿y usted qÉ

to va a dejar de existir y, es mÁs, va a sostener a ecomoda, yo quiero que don hermes sea el encargado

i want to bring in federated hermes chief equity strategist, phil orlando.ll you, you were on es go. just before anyone, talking with a major way with big money but how surprised are you at this victory? then what does it mean for all corporate america? >> charles, first of all thank you very much for having me back on the show and federated hermes in the esg area. think about what has been going on in the country over this past year. we've had a global pandemic and the tragic george floyd murder a year ago so there are profound social changes underway. the engine one, the hedge fund waging this battle against exxonmobil has been working on this for six months. they made a very interesting pitch. look, exxonmobil made bad investments, returns haven't been great. they haven't done a good job getting into alternative energy initiatives. maybe we ought to ought shake up the board. they were to wrest two seats away from the company. maybe that is just a shot in the dark but i think there is actually a touchstone that corporate america needs to pay attention to,

there hermes for 50 you a yes. log more than $100.00. $50000.00 operational flight hours in more than $20000.00 successful combat missions around the globe. israel that the nation and other military operations have been used weights, armed industry to showcase product and attract future customers. so a home to use them unless somebody will not be fully with be with them up enough people come up with the sketch of law this automated explicitly visual mother will can come in florida will be sent to the list. so it is. 1 in your book to do one of them for picture movie any on your local. what for the month of our mission said before the to the 2 of the law which i'm a see the modem. a lot of them on to the bottom from foot was me over the last decade, just been increasing evidence to show that israel doesn't only jerseys for surveillance, but also the plays and platforms for offensive weapons using drones to launch spike anti tank missiles at human targets. yet, israeli officials continue to deny this. they won't even

. >> me and someone out, paul, i hermed him detain the subject so the police could get him in custly.exactly what what we should be doing. police arrested this man, a 40-year-old. it doesn't appear race was a factor. >>> china town shop owners are making a plea, step up police presence. store owners' demands come after last week. a teenager went in a store and sold cell phone cases. the teenager came back and pepper sprayed the owner. >> this isn't aasian hate. it's about social support. will help visitors feel safe. as the city restrictions. >>> what started with a call to pittsburg police about an armed man at his girlfriend's door ended with police shooting and killing the man. they say he refused to drop the gun. >> drop the gun! drop the gun! >> you can hear the gun fire, and demands. that is doorbell video after the officer told him to put down the gun. they only fired after they put the gun down. at least one neighborhood says she thinks police too long to treat the man. >> he was not moving after he was shot and he was laying there before paramedics w paramedics . the man held

now we don't even know their lives are not all can go on inside of our young and old hermes are you still shoot back with still remaining that we're going to even come to my people because he didn't have the time to start eating to start making a cause which after their own 15 hours so it was not flashy you know. it was a book an attack on the world shepherd i think you because now it's all you can use to knock one off such person it's all the luck some of the parts all of the current scene there are thousands of people that are inside the mosque and they have you know many of them have to food with their children oftentimes or you know if there are small means so that they can break them up and then after form or another to pray or another to. happen is that they didn't even have the time to do that are we all of a sudden they were attacked by those only for we all know this season that is there by the way this is nothing new i mean this is a reality here in general even in a lot some of. their homes joining me live from ramallah in the occupied west bank and it is just bring us up to da

same story at hermes. burberry is clearly lagging.they are pleased with performance in china. maybe it's those comparisons with peers setting the stock down. the stock is down, just shy of 8% to the downside. coming up here on the european market open, a secondhand unicorn. we talked to the ceo of clothing resale app vinted about its valuation and outlook for the future. the resale of secondhand clothing online, why do we need a special app for that? we will talk to the company about that. this is bloomberg. ♪ ♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings. or visit and xfinity store to learn how our switch squad makes it easy to switch and save hundreds. anna: welcome back

senior vice president and senior portfolio manager and head of the value income team at federated hermesda, thanks for kicking off the show for us. inflation, we did two weeks ago a wall of inflation. everything up in price we ran out of room on your giant wall at xcnbc it sounds like you are not that concerned about it right now how come >> i think inflation at the moment is going to be running a little bit hotter than expected. just because the demand is so high we have been in our homes for so long and we haven't been spending a lot the demand is hot and manufacturing has been less. you know, supply is lower. in the short-term, inflation could run hotter however, the forces in place before, this inflationary forces in place before the pandemic have accelerated through the pandemic as you look through to 2022, i think you will see that inflation will actually start to, you know, moderate somewhat from where it is here. let's face it. you covered lumber prices for multiple weeks now lumber prices not continue at the same pace. at some point, demand will give or so much more supply that

but i look at hermes, reimagining at or whatever it means, all of these micro stores are popping up inapan. michael: businesses are going to take the long-term view, and the long-term story is that rising incomes in asia is going to be the key source of growth over the next 10, 20 years. so i think that is why you are seeing lots of businesses pivoting toward those, and i don't think that is going away anytime soon. jonathan: what is the european trade fit into all of this? the price action has been positive in european equities all year. michael: europe is -- europe is benefiting in general. the dennis economy is somewhat lacking, but if you look at the daily cases of vaccinations in europe right now, it has caught up to the u.k.. so i think you will see a domestic pickup in the economy as well. whether they outperform something like the u.s., i have a preference for something like u.s. financials, but i still think european equities are very high. lisa: what about other large caps within the united states? do you think most of the gains there have been had? michael: ultimately if you

hermes of france ready to put a gajillion dollars into a double storefront, and right across the streetlo blanc is building another fortress. people are building into this recovery, aren't they? joseph: it seems that way, and the consumers are certainly building, too. we should get good numbers out of home depot and lowe's. the consumer is definitely armed with cash. there's been stimulus payments, tax refunds coming out. everyone is filling a little better about the covid situation right now. it seems like there's been this pent-up demand for a while that has been starting to unleash itself, and we are seeing spending at retail. tom: how do you drill into the micro of this, mcdonald's or amazon raising wages? is all of retail going to have to lift up the wage? what does that do to margins? joseph: we are seeing wage pressure and freight pressure that all of the retail's been calling out. that is baked into the numbers, baked into the stock prices. i think a lot of us have been expect and this now, wage increases going forward. jonathan: is this due to a worker shortage? are some of the

jonathan: stephen auth there of federated arm as -- federated hermes.m new york city this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. counting you down to the opening bell in about an hour, your equity market up to 4166, up by eight or nine point. we advanced 0.2%. yields committee basis point to 1.6369 percent. the dollar erasing the gains of the year, now negative. euro-dollar, $1.2220, up 0.5%. tom: the dxy under 90, and the vix comes in even stronger, from 20 down to a more bullish 19.64. this is a joy to be with paul sweeney. at 9:00, we will be on radio worldwide, anticipated after the last 24 hours because he's expert on this insanity of our media business. paul's career goes back a zillion years. it is he that built bloomberg intelligence. thrilled to have you with us today. let me cut to the chase now. how does the roberts family respond to this, and the iger-less disney respond to this? how does nbc buy cbs? paul: i don't know. maybe they spin out the nbc universal business and merge that into viacomcbs,

steve shive around -- steve sharon -- steve chiat around -- steve chiavarone joins now, federated hermes portfolio manager. you can speak for me, maybe not tk. steve: the problem is now i know i have a more difficult interview coming up with tom. [laughter] jonathan: the market cap waited with a heavy tilt give you more of a cyclical waiting. how difficult is it to look at things differently this year? steve: i think it is really important because if you are trying to be the benchmark or outperform the market, tech has been terrible. that was the call we made last fall, where we went over weight cyclicals. i just think you are in a scenario where you've got consumers sitting on $3 trillion in extra savings. banks can't lend the effort out because people need to borrow. your just flush with cash. i think we haven't really even seen all of the reopening. if you look at some of the metrics, restaurants haven't come back full force. new york and california, very large states. just now starting to come back online in a bigger way. i think the cyclical trade has some room to go here. tom: what

federated hermes chief market strategist, phil orlando and kits fared group chief strategist, keith fitz-geraldi was crunching numbers yesterday in the cpi report. i'm personally convinced it will be short-lived, a lot of double-digit moves came from reopening trade, stimmie checks and supply chain constraints. with that in mind, are either one of you, i will start with you, phil, are you buyer on weakness, did you change anything and do you think inflation is a long-term problem? >> all right. so two good questions there, charles. first of all thank you very much for having me back. we were not concerned about this 4% correction we saw in the s&p over the last couple of days. stocks were overbought last week, last friday. we thought there would be you know about a 4% correction. we got it. we were oversold yesterday. so we were getting the bounce today. so there is nothing there that puts us off from our 4500 forecast on the s&p by the end of the year. but your inflation question is an interesting one. you look at the spike we've seen in commodity costs over the last year. lumber, copper, oil,

hermes. >> thank you madam chairwoman, and mister neill do you think that the number one issue concerning morale at the for the tso workers is actually pay? they feel they're underpaid? i don't. i think actually probably the number one issue is quality of leadership and the airports. >> the quality of leadership in airports, where do you mean by that? >> quality of supervisors. when we looked at employee survey data at tsa, what we found is there were some airports where the workforce had good things to say about tsa and about the work. and there were airports where people were doing the same work and incredibly happy. and obviously, pay is a factor in that but the quality of the supervisors is a bigger factor. so the fact that we now have employees that say a good thing about the agency says that a good big chunk of it is the quality of its leaders. and that was one of the -- quality of supervisors in the airport. >> i guess that complies with my theory about that 95% of the problems are management in nature. is that correct? >> i would say that's true. usually, when you find problems in

hermes and others rocketing to all-time highs with the promise of post lockdown demands.her than the nasdaq 100. some investors are concerned about the sector heading into risky territory. getting a little frothy. albertina, talk to me about your experience covering this industry and what investors are telling you about how long this luxury rally can last. >> it is hard to predict. one would've thought that with lockdowns and closed doors, that the industry would crash but it did not. it got better and better. investors see the full value of companies that manage to raise prices on handbags even during the pandemic. people want more. and the reopening will help. once we are back traveling, all of the shopping at airports that has been missing will come back. we just had an amazing earning season. i am talking about top names. they produced organic growth north of 50% in the first quarter. and we are expecting a better performance in the second quarter. the question is, how much further can these stocks go given their valuations? they are very frothy. dani: how much furthe

joining me right now is federated hermes equity market strategist, phil orlando and also joining thersation all morning long jackie deangelis and adam gallet. thank you for being here. phil, i want to ask you about the disincentives to work. how row concerned about the colonial shutdown and impact on gasoline? >> first of all, thanks for having me on again, maria, good morning. it's significantly concerning because colonial accounts somewhere in the neighborhood of 40, 45% of the gasoline in the east coast. as we are getting into the beginning of peak summer driving season, memorial day, moving the price of gasoline up to $3 a gallon and that means in some states $4 a gallon could have a chilling effect on economic activity. the hope is colonial and the u.s. government have their hands around this thing and flow of gasoline something like closer normal over the course of the next week or so. maria: well, we will see about that. right now crude oil is down but gasoline has been trading up. we know that and that, of course, could impact the broader economic story. you're out with a pie