the ipo price to $24. they had raised more than 1.5 billion dollars in its ipo.ne of the most anticipated wall street trials begins in a lower manhattan courthouse next week. we will preview the trial next. this is bloomberg. ♪ sonali: this is bloomberg markets. it's time for the wall street beat. today we will look at former founder bill wong as he goes to trial next week. there was a business week that published today about bill wong's dreams that he never told people that started this story. what was the dream? >> when you walk into his charity office, there is a striking piece of artwork. effectively, there is red paint and minute belated layers of mesh which is hanging over the new york city skyline. it's quite something is the best way to describe it. his dream was it was a vision of the blood of christ, redeeming the sins of the city. that's very interesting because when we think about what will happen starting next week, bill wong goes to trial in a criminal case where the doj has accused him of wire fraud, market manipulation and racketeering. racketeeri

the demand for the ipo has been pretty exuberant.as been a lot of questions about how much the ipo market can hold up, how much demand are they getting? >> it seems the ipo market is healthy, especially in the light of a week ago. over subscribes, the books closed. so they raised 441 million dollars. right now, the company has a market value of $6.6 billion. if we put this into the purse act -- perspective of tesla, it is $540 billion. rivian, $9.9 billion. closer to rivian in terms of market value. this is the biggest ipo for a china-based company since 2021 and the didi debacle. a lot of positive interest. maybe it will open up the u.s. ipo market more for some other chinese companies. although there are biden headlines that make interesting attention. the optics are not great. >> talk through some of the considerations when we are thinking about the tariffs and what the administration is planning. even though you have -- a point abigail made earlier, zeekr doesn't have great exposure to the u.s., but how does it tackle the issues

we see the ipo and how it goes they priced at the top end of the range.t would give it a market cap of 14 billion euro the family will keep a controlling stake and 92% voting rights in the company. it is interesting to see how it goes it has done well there are other luxury plays that are watching this closely >> quite a bit to talk about this is a highly anticipated ipo. another entrance into the luxury market we have our latest guest joining us now great to have you here, samuel >> i want to ask if this is a good timing for puig to go to the market now >> it is, actually if you think of the luxury sector, it is positive when we model the puig ipo, we look at l'oreal and others, we see the resilience in the luxury segment that we have not seen in other areas of consumer discretionary with the start of 2022 and the start of rising rates. interestingly when you talked about the other ipos before i came on, the category puig falls into with lvmh, is a blue-chip must-have stock. those are the assets it is a good time to list for puig. >> we know golden goose

we are seeing ipo's come back. why do you feel the ipo market is not broken? >> when a look at the market, it is not about whether companies can get public. the question is how are they thriving once they are public? let's look at the broader ecosystem. over the last 20 years, we've gone from over 8000 public companies to under 4000. at a time with so much innovation that you would expect 15 or 20,000 companies. i get to see all of these exciting dynamic companies in the private market and time again, entrepreneurs aren't choosing or talking about wanting to run a public company. and that concerns me. sonali: what are the challenges they are presented with? why don't they want to go public? >> i think we are seeing the cost of being public is very significant. particularly for smaller growth companies, companies that are less than $10 billion of value, you will spend at least $10 million as a public company between your auditing fees, legal fees, compliance costs, your dino insurance, your compensation consultants, independent board members. not one of these t

so much excitement with the ipo.ch excitement with the global expansion, but it was costly for the company and the stock suffered. is it re-gaining its footing? that pun is intended. >> it's a good pun. margin pressure and shares fell in january. it is above the ipo price. trading at $49 when i last look. we are expecting growth. the u.s. market is quite mature. we expect them to deliver on numbers. we are looking at europe where the sentiment is weaker and market is weaker. we are looking at revenues of 476 million euro. it is a premium brand. it's a difference. the premium brands are not suffering as much as the lower-consumer brands. >> lucy, thank you for running us through the numbers and u.s. retailers. lucy cootts at jm finn. >>> i want to leave you with the numbers for the equity markets. this is the picture right now. we have seen buyers come back in. the ftse 100 is higher at 1.1%. the dax is eeking out a marginal gain. we see boosted sentiment with the last two or three trading days. a lot of concern and j

the ipo at $21 a share.are joined by abigail doolittle. >> this is a positive, the fact we have two ipos in a week with strong demand. the stock price at 21, it opened at 26. right now closer to 27. up 27% on its first day. market cap of $6.5 billion. at the highs, it had been closer to $7 billion as a way of comparison, viking which went public, has a market cap of closer to 212 believe dollars. this is the largest ipo from a chinese based company. the high-end ev brand that since 2021, they raised $441 million. up from what they were initially trying close to $370 million. the books closed on wednesday, but they reopened apparently, sold another -- 21 million shares total. in the second round it was 21. this is positive, it was oversubscribed. reopened the books, additional shares. the stock up 30%. >> this comes against an interesting backdrop. the biden administration is set to take a look at chinese electric vehicles and announce more about it early next week. >> the optics certainly are not very good.

at the same time, zeekr's ipo.this possibly impacting that >> reporter: well, in terms of the ipo, it is not going to impact the ipo in the short-term, it won't effect zeekr's plans zeekr, like other chinese car companies, has no presence or plans to sell in the u.s the impact is limited. however, it does have big plans to sell overseas, especially in europe, because the competition here in china is so fierce in terms of the ipo, sources familiar with the matter told us the company sold 21 million at $21 each raising $441 million. again, as you suggested, it will be trading later today under the ticker symbol zk >> eunice yoon live in beijing great to sighee you thank you very much. >>> the chinese averages are closer higher adding impressive gains. over the past two months, it has been a turn around story with the hang seng and shanghai composite out performing the s&p 500. similar for the tech stocks. out pacing by a 20% margin since march. the yellow line is the hang seng there. all of this is despite the uneasy

be. >> at the outset, i think you did a fantastic analysis of the ipo already.lations we just started the roadshow. i will not be able to comment at all, but i think you did a fairly good summary, so thank you for that. >> i understand that you are under restrictions to share details, but in the roadshow's you will tell prospective investors about what you hope to do with the money collected. and what the prospects for the business are. i'm sure you could share with us some idea of where those funds they you will raise to the ipo will be deployed. will they be deployed to your current program, what's the plan? >> i think you will get to know that as soon as we close the ipo. >> i could spend more time pushing you, but i can see that i will have much luck. i do want to talk a little bit about where you see the demand situation from broader business. you ended the year with low shipments on aluminum, what does that tell us for fy 25? >> i think we are lifting it quite strongly. i really believe the demand for all these various sectors that we work in, the demand i

yvonne: how many ipo's have been lined up since those measures?e 100 companies, or applicants, in the pipeline already. with the latest measure, and that excitement and a lot of proactive this in terms of reaching out to us, i can really only see that building up. for us, obviously, we need the market conditions to also be more conducive to getting the ipo's done. but what we have seen lately, especially the last two weeks of april, is giving us a lot of hope. yvonne: beijing mentioned they will support leading industry names. what is your interpretation of that? are we going to get blockbuster names coming back to the city? >> first of all, in terms of sector, what we can do to complement the domestic exchanges in the mainland is to focus on the new economy. that's what we have done very well since 2018. as you know, we issued a new chapter in our listing rules, chapter 18c, which focuses on what we call specialist technology. these are the sectors i think investors are most interested in at this juncture, including things like artificial intelli

sinker shares -- zeekr shares ipo price had been $21. a bit of a pop.a chinese ev company going public today. zeekr shares indicated at $23 to $25. the ipo price had been $21. definitely a premium. we will bring you more details as we have them. we will look at the companies making the most social bus today and our social climbers segment up next. this is bloomberg. ♪ how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. katie: time for social climbers. the stocks making waves on social media this morning. apple reboot. it's pulling an ad for the new ipad pro which drew heat on social media the ad shows a giant machine slowly crushing a pallet of created tools like instruments, paints, books before he reveals the new ipad. critics slammed the ad, saying it promotes the destruction of the human experience. apple has apologized, saying it missed the mark and the ad will no longer appear o

ipo market.ogy. ♪ ed: you are looking at a live shot of the principal room. coming up, a new episode of the circuit. the youtube ceo along with emily chang. check the full episode tonight. this is bloomberg. caroline: we talked about it earlier, the lack of ipos market and in a recent op-ed, eric argues the number of u.s. companies is plummeting. bad news for the component of the economy saying exit opportunities are critical to the promise of american innovation and neglecting them will be our collective detriment. we are pleased to welcome to the show now eric. as you write that out and now thinking about broadening out the conversation you articulate why it's bad for wannabe investors and for future growth and financial benefits to many, but why is this happening from your perspective? >> it's happening mostly due to regulations. that's the number one factor. the number two factor is these companies are choosing to stay private longer because is more private capital. it's a bit of a conundrum

we plan to ipo soon.re -- many reasons you get ipo is, can i get access to liquidity, to other enterprises know who we are? that is not a challenge for us. with things like gpus and llm's being private has given us the ability to invest and leapfrog over many others that would have been difficult if we were public. , so we are not in a rush to go public. annabelle: are you talking within this year? arsalan: i wouldn't doubt it would be this year. honestly, it's one of those things that there isn't a secret master plan on the wall and we are just not sharing it. [laughter] we are much more focused on when the timing is right and how we drive the business. annabelle: you have strong revenue growth as well, you are profitable now. arsalan: as a company, we are continuing to get more efficient. the crazy part is when you look at some of the numbers we have shared with investors and analysts, we are still basically growing at over 50% year-over-year, north of $1.5 million in arr. no other company out there can

the market is hungry for successful ipos and investors need good news.g back confidence and there has been a huge amount for this ipo, priced at the top and, it is a formidable and solid company with lots of growth, very profitable with huge brands behind it, so a company that should do well, we will see how it performs, but a lot of expectations in the listing today. >> you answered an important question. is this signaling a rebound in listings? i know you scrutinize the story. >> yes, it is a big question on the horizon, it's looking better and in europe we have seen some signs of improvement in the market this year, today will be a test in the u.s., we've seen sizable ipos taking place recently. here in asia, sentiment remains challenged, muted in venues such as hong kong where it is still a far cry from the boom years, still a lot of challenging unforeseen challenges, but definitely europe and the u.s. is looking better and the ipo today will be a good sign, of the three, asia is more challenging. tom: really interesting on the details for europe. th

i do brace yourself for your own ipo pipeline? >> it is a great question.o happen for the ipo to occur and they happen often very far in advance. one is often up leveling of leadership teams, functional roles in finance, in marketing, sales, product. so we see that. we see cap table for dictation -- fortification with both public and private investors that come on. ed: nvidia is a big one doing that at the moment. max: that's right. ed: the other thing is the number of independent searches there are executive occurring partners. we've been hearing an uptick in that and we feel it firsthand as well, many searches that are going on with our portfolio. in a lot of companies are getting ready for this and that is happening and is behind the scenes, but it will happen. caroline: and boy, do we brace ourselves for it. next, thank you so much for spending time with us. meanwhile coming up, let's talk about a new once-in-a-lifetime stay and experience category for airbnb. all the details next. there are some good pictures. this is bloomberg technology. ♪ ♪ ♪ [annou

but i think one thing is clear, guys, an ipo is sort of changing in founder's minds it's now not theestone. there's other ways to build your business >> and for private equity, deidre, it's also been struggling in an era of high rates hand ipo exit being closed but they can always do deals amongst themselves >> absolutely. and i think -- you think about private equity is like coming in and cleaning up a balance sheet, cutting costs. but more and more you see them as investors and opportunistic, and blurring the lines between private equity and venture capital. >> deidre, thank you very much, our deidre bosa. >>> coming up, 80%, that's the growth rate of phillip morris tobacco free nicotine pouch called zin shares are up 6% since that report we'll get the tailwinds and any potential headwinds, next on "the exchange. [crowd chanting] they ignored your potential, dissed your achievements, and mocked your ambition. but it's not the critic who counts, and you know that. from the beginning, you couldn't be stopped. ♪♪ breaking resistance with every swing and block. ♪♪ your game plan never

is the ipo reopening real? check out what is happening. is google's ai strategy a big week for them next year, but all hinging on just one man? we'll find out more. and we've been waiting on something big from apple and they crushed it, but not necessarily how they thought they would we'll talk about all of that in a moment and plus the dow on track for eight straight days of gains just as we thought april was a down market and our market guest says the gains can keep going as long as one thing happens. and it is about bond yields. >>> and in choppy waters, that is how the ceo behind this name describes the consumer we saw the sentiment report, big disappointment he says his company is well positioned to weather it the stock up 17% just this week. but let's start with more on the markets. >> it is positive generally speaking, but we've lost some momentum here in the midday session so far if you take a look at the dow industrials, kelly mentioned on pace for eight straight days worth of gains but just up about 110 points the s&p 500 is stil

we see the ipo market heating up. we see m&a heating up.e more and more deals getting done. goldman is one of the leaders in that field. they also then continue to look beyond that. let's get into the alternatives push that most asset managers are getting into. that's a new revenue stream that goldman hasn't had a huge chunk of that they can continue to push more into. i've seen this as early innings in goldman rally and buy any dip, and i can see the stock at 500 maybe by the end of the year. >> wow. let's go from your three buys to the bail for the group. a name that's rivaled nvidia with gains but is less will known. constellation energy up 84% since january. number two and number four on the nasdaq 100 and s&p respectively. they're focusing increasingly on their role as a data center power supplier. how can you be so excited about nvidia and bailing on this one? >> it's than i'm bearish, it's just a little expensive and looking topsy for me. i'm worried they're going to retest the 185 level. looking weak. i do not hate the power trade.

cramer ipo that works. of course small position here, maybe a pullback get bigger. but i very rarely do this. i am saying viking is a buy right now. i want it to pull back until the valuation's more in line with the rest of the industry, which would be about 20. but after what happened with arm holdings where we only got in small i'm not going to make that mistake again. six months later from now the lockup insider will expire you'll get a chance to buy even more here's the bottom line even though viking's somewhat hot start has made the stock more expensive than its crew line miers i am willing to pay up for this one because i think it's going to be i awinner it's my new favorite in a group i've liked for ages and ages let's take calls let's go to sam in new york. sam. >> caller: hey, jim cramer, how are you? >> i am doing well, sam, how are you? >> caller: good. boeing, buy or sell or hold? >> i'll tell you the good news about boeing is they've got this guy malenkov who's in there trying to get the right

the company is citing expenses from the ipo for the loss of $575 million but strong revenue and userncreases has a stock up strong, your thoughts. >> i go by supply and demand so the stock is up in the market likes it even though the numbers may have not been there but you think about facebook and other ipos and comparing reddit to facebook or meta but there in that category yet but early on making an investment for the pivoting and trying to find the market coming into the ipo i think they'll be fine but if they accumulate another quarter i don't think it will be so easy going it's fine where they are but we're going to have to tweak the numbers ensure wall street delivering. maria: how would you assess earnings overall? >> i like them the big one is an nvidia that's coming up in a couple weeks when you look at everything it was big tech for the most part that pulled it out meta the netflix we had a hit and a mrs. and meta said something interesting there making a huge investment tens of billions of dollars going into increasing infrastructure it and so forth but the investment retu

we don't have ipo plans to announce today, but i would say that ipo is not far out horizon.not 24, but definitely something we are thinking a lot about. ed: chime has been interesting to me and some of your team knows that, you had this valuation into thousand 21 that's not unique for your story, but are you kind of happy about that? we have seen down rounds and lower valuations setting you up well for whatever future you decide. chris: well, valuations are just a moment in time that fluctuate to some extent. it's not clear what the market -- caroline: reported valuation, to be fair. chris: right. we don't think much about that. we are heads down, focused on executing and not an king to specifics. i think the overall reset has been great for us and while some companies try to figure out where they might land or merge opportunities where they need to raise money, we are extremely well-capitalized. close to $1 billion in cash. we have been able to stay aggressive and grow market share in a period of disruption for the category, which has been good for us as a leader. caroline:

>> it's easy to improve when it's zero, the ipo market close.as been some very successful ipos during the first few months. i think the level of ipo will pick up in the second half of the year into 2025. it won't be as robust as it was during 2021, but i think we will move back to a more normalized environment for ipos. the overall size or numbers of public companies staying private longer. they have more access to capital longer. there are consequences associated with that. >> let's think about m&a. it's difficult in my position to understand which deal can get done and which cannot based on current regulation. apparently that's a problem. other deals can go forward, how much is that holding back m&a activity in the united states? >> i think there's no question the regulatory environment has been a headwind to m&a activity. for example, cap tech has closed out because of the regulatory environment for making significant acquisitions. i do think the regulatory environment has made it harder to understand how to expect it will intervene. i think

ipos reached a 22-date -- 2-date high of more than 1,000.owing a drop can in 2022 of about a 83% to 175 and and then you can see what happened, it got a little bit worse in 2023. finish why is this such a bad thing when public companies are blossoming? private, rather, private companies are place blossoming? >> yes, well, the entire economy is based on public companies. they're the ones who said the -- who set the trends, who set the comparables, are able to raise billions of dollars, who are employing the most people. so it's great that we are able to to keep private companies private longer. at some point they have to go public. and at the moment, it's not possible. if they, as you pointed out, there's fewer and fewer ipos. and this has been going on, you know, for decades now. we're down to about 4,000 companies at this trend in about a 20 years we'll be down to 2,000 companies. and so that's just unsustainable. we cannot be the envy, economy being the envy of the world without the most public companies and the richest stock market in the

francine: do you think you will ipo chanel? ipo chanel? leena: no.ughter] an ipo is not on the table. we love the privilege of being an independent company, being able to make long-term decisions 20, 30, 100 years on. francine: leena, best piece of advice and worst piece of advice you have ever been given? [laughter] leena: best piece of advice, i'm actually going to do two. one is, fall in love with the life, the job you have. don't wait for the perfect job. fall in love with the job you have and make it the most perfect job in the world. and the other is, which my husband also tells me a lot, enjoy the journey as much as you enjoy the destination. we are always in a hurry to get somewhere. and you get promoted, you are thinking about the next promotion -- no, no, no. just enjoy. breathe a bit and enjoy the journey as much as the destination. worst piece of advice? i think most often, when you get a worst piece of advice, you just ignore it and forget about it. but, you know, i have received advice like, when i was in many rooms, the only woman in t

debut of a high-end dv maker rose 35%, biggest ipo since 2021.di: is this an attempt to differentiate trade policies from donald trump? stephen: we have had a reaction in he mocked the move and said biden should have done this for years ago in the chinese could be using plants in mexico to make ev's and through the u.s.-mexico canada agreement they could export that to the u.s.. trump put tariffs in mexico up to 200% so this will be political but as i said earlier, the u.s. market for chinese made ev's is small and it seems like they are going away from the trend but this is a political issue with the union so this is symbolic to protect jobs in the auto industry. >> stephen engle there and you know, the shifting of policies comes at a time when we are seeing weakness not resolved when it comes to the chinese economy. credit numbers brought to reality the idea that because we had encouraging data, some of that was distorted, we are getting weakness on demand side. financing was contracting for the first time in 20 years. borrowing is negative, co

they have more ipos. you more exposure and it's back emphasizing the wealthy client advisory business which happens to be ia a division i toiled in for many years. starting with a low term with the charts to get perspective. the goldman stock has been in a basing pattern over 2 1/2 years. this is stuck in a broad trading range. basically drifting sideways. just the same kind of thing you could see with a moving average. they've been basically knifing right through. this is also pretty flat. that's a good thing though because this is what it looks like when the stock build up a base and that could turn into a trampoline. anyone who would sell at the high-end of the range has already sold. when buyers get interested in the stock could soar so we are always looking for the basing pattern when we do technical work on stocks. you could see how they've been moving sideways for the better part of the last four months but this is the point where the base has gotten firmed up. the stock has printing a series of hi

ipo we will have details coming up next raising you was no bed of roses.re you getting me anything for mother's day? go to 1-800-flowers.com. oh my gosh! wow! gorgeous! i feel like royalty. thank you. 1-800-flowers.com. happy mother's day. happy mother's day! ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. switch to shopify and sell smarter at every stage of your business. take full control of your brand with your own custom store. scale faster with tools that let you manage every sale from every channel. and sell more with the best converting checkout on the planet. a lot more. take your business to the next stage when you switch to shopify. we put our heart into celebrating moms. we are local farmers, bakers, flo

don't look know, reddit, reddit may save the ipo market. my take how unfair things have been, finally how you have run out of money. all that and so much more on "making money." ♪. charles: you can still feel the anxiety in the air, i know you can, right? this is the thing. this is the pandemic index, panic index, rather. this is the month of april. it erupted right? because listen we were down for the first time in a little while, like since last october. first time a lot of investors have faired any adversity, a lot of people headed for the hills. here's the then though. we have come down very dramatically since then but still, you can testimony again, there is a fair amount, let's call it fear. the fear and greed gauge. this thing has been stuck in fear for a long time. even after we had the big strong days, right? we had four or five days up pretty nicely. we've been in the fear gauge for sometime now. you got to wonder what is going on here. i don't necessarily think it is fear but i would say the action, the action in this market real

. >> i think it is because of the ipo cycle and the m&a cycle.vate equity, they don't get paid until they deploy capital and they're not booking any revenue -- they're booking plenty revenue from fees but they're not going to book so much revenue until the m&a market picks up and guess who will handle that for them. goldman, morgan stanley, citi, barclays. however, i don't see the ipo market opening up, and this has been told direct to me, bankers, as a matter of fact, for a company we're looking to ipo, until next year. maybe you get surprised early in the first quarter, but generally they're thinking mid-'25. you have that expectation. sometimes the expectation is better just as we see with interest rates, but the pipelines are huge. >> which is why there's optimism about capital markets returning, right? it becomes a trickle, the spigot opens and it's a rush of activity. >> right. you've only had four ipos this year for tech companies. only four. think of how many want to come public. it's going to be great, a great business. yeah, i see nothi

ed: reddit is up, flirting with a record high, 14% since ipo in march. the deal with openai is a two way. openai licenses reddit to get text data to train models. reddit is talking about building ai products into the forum on top of the language models. applied materials makes the machines that makes the chips, like tsmc. it beat estimates but the upper range given by the street, it fell short. where are we at in chip demand? through the proxy of the companies that by the machines. caroline: is this a bellwether? maybe not autos or connected devices but all things ai still driving us. what about china exposure? we can go broadly across the sector with joanne. this is a chip equipment company but what are you seeing in terms of where we are right now? >> better than expected results but their guidance was soft. in this kind of market, that doesn't go over well. they indicated continued demand from and markets except for china. with u.s. trade policy trying to crackdown on exports that would enable china to have its own leading edge chip business, applied

the size of this ipo is around $550 million.t the size of -- a deal of this size three years ago, it wouldn't be outstanding. but this is the second largest dealer in asia pacific. definitely a very big deal. it is the largest deal in seoul since 2022. we are expecting to see the stock saying in this range as a result of the excitement. haidi: does that mean we can see more deals of this size and scale in south korea? filipe: i think it's fair to say that there is an expectation that the pipeline of deals in south korea this year will be larger than what we saw throughout 2023. what we are hearing in the market is that there is a lot of excitement with corporate reforms in the country. there is the expectation that there will be a lot of value unlocked in the large conglomerates in south korea. and we have seen a lot of activity, a lot of placements, huge names that came to the market to sell stakes in korean companies already listed. this builds momentum for initial public offering's also to help them. there is a lot of excitem

francine: do you think you will ipo chanel? quex no. an ipo is not on the table.love the privilege of being an independent company, being able to make long-term decisions. francine: best piece of advice and worst piece of advice you've ever been given. >> best piece of advice, i'm going to do too. one is, fall in love with each of you have, don't wait for the perfect job, follow him up with the job you have and make it the most perfect job in the world. the other is, which my husband tells me a lot, enjoy the journey is much as you enjoy the destination. you are always in a hurry to get somewhere and to the next promotion. just enjoy. breathe a bit and enjoy the journey as much as the destination. worst piece of advice, i think most often when you get the worst piece of advice you just ignore it and forget about it, but, i have received advice like , when i was in meeting rooms, the only woman in the room so many times in my career, i have received advice like stay quiet for as long as you can and try to blend in. you are already starting out because you are looke

ipo this year. >>> bitz coyne sharply bolo, falling $58,000. 57, down 4.5%. >>> several economic reports. another busy day of earnings from names like pfizer and qualcomm and the fed announces its late evidence monetary policy decision at 2:00 p.m. eastern and that's followed by jay powell's press conference at 2:30 p.m. >>> we kick off this new trading month. ahead of all that, take a look at futures. the dow looks like it would open 80 points lower. joining me now is courtney garcia, a cnbc contributor. good morning from london. i want to get into this right away. what do you expect from jay powell. how do you see the market moving or not moving with the 2:30 press conference? >> i think it's widely expected that the fed's going to be basically be on hold. everybody's going to be sitting on pins and needles to see where they are going forward. we have now had four months in a row where inflation is showing inflation at 2.4% to 2.6%, which is clearly higher. that's why everybody is thinking they're not going to cut as soon as people hoped. but

i think it's been to the benefit of investors that the ipo market has been closed in my partial worrye coming months because of a bull market index hitting highs with relatively low volatility that starts to change and investors get exposed to some of the more speculative frenzies. jack: news for the investment tanks but good news for your client. let's talk about foreign investment we've always been saying you have to diversify overseas, back and savior portfolio but recently it looks like the s&p is where you want to be, what is your take on that. >> a couple of interesting points, last year 2023 i think a lot of people saw a dominant u.s. stock market outperformed other global averages which is true but here's a little rub the average american stock did worse than the average developed u.s. stock and it was all about the a.i. in the mag seven in the u.s. driving higher index average, ex-u.s. stocks are doing well it's getting lost in the shuffle. the other point i think a lot of investors are used to thinking about international developed markets as banks, insurance companies, oil

is the ipo reopening real? check out what is happening.ext year, but all hinging on just one man? we'll find out more. and we've been waiting on something big from apple and they crushed it, but not necessarily how they thought they would we'll talk about all of that in a moment and plus the dow on track for eight straight days of gains just as we thought april was a down

francine: do you think you will ipo chanel? leena: no, ipo is not on the table. we love the privilege of being an independent company, being able to make long-term decisions. francine: best and worst piece of advice you've ever been given. leena: best piece of advice, i would actually do two. one is fall in love with the job you have. don't wait for the perfect job, fall in love with the job you have. in the other, which my husband tells me a lot, enjoy the journey as much as you enjoy the destination. we are always in a hurry to get somewhere. just enjoy. breathe a bit and enjoy the journey as much as the destination. worst piece of advice? i think usually when you get the worst piece of advice you just ignore it and forget about it. i've received advice like, you know, when i was the only woman in the room so many times in my career, i received advice like stay quiet for as long as you can and try to blend in. you are already standing out because you look different from the rest and i think that is terrible advice. i think it is really important to feel safe to

ipo coming under increased scrutiny from regulators the report suggests that shein will update on thepo locati and could file with london this month. silvia is joining us with more on this one. silvia, i don't know how the london stock exchange will feel coming second. >> they may come first >> by default. >> it is early in the process to figure out what is happening here shein did not comment on reports that it might look at the lis listing in london. we know there have been c conversations with the uk and london jeremy hunt met with shein in february there were reports from december that manage ment as shein met with members from the stock exchange we will see what will happen here we know there was interest in the retailer in listing stateside, but since then, there is a pushback from u.s. officials in terms of seeing this company listing on wall street for instance, lawmakers stateside highlighted the company is not transparent about the business practices and there are questions here about human rights and so on shein has said that it does not practice that sort of work, having s

it is the largest ipo in korea since 2022 and it makes korea's asia second largest ipo market at 2024r remains one of the bigger holders, a 24% stake in the firm even after the listing. take a look at where we are in terms of chinese self driving tech stock. surging at this point in time on the back of news on tesla. plenty more ahead. this is bloomberg. ♪ and they're all coming? those who are still with us, yes. grandpa! what's this? your wings. light 'em up! gentlemen, it's a beautiful... ...day to fly. (jennifer) the reason why golo customers have such long term success is because we focus on real foods in the right balance 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 weight loss because it supports your blood sugar levels between meals so you aren't hungry or fatigued. after i started taking release, the weight just started falling off. since starting golo a

again, players coming to the field, there's been a lot of ipos in europe. some have gone well and others not so well. we'll have to wait to see how this one goes and whether that opens the door to more players. golden goose from italy is looking at playing in it. >> i didn't recognize how many high-profile brands they had in this puig umbrella. i thought it was really interesting that they're going to control so much of this company. is this a company that's going to ideally stay in the family for generations similar to an lvmh? is that the case? >> it's a third generation that's still in charge of the group. it's very typical of european luxury groups. they always have family control, family in charge there. we'll have to see who takes over the ceo who's over 65 now. whether that opens the door for someone from the family taking over or someone outside, we'll have to see. >> you don't know this, charlotte, but i love christian louboutin shoes. i see them all the time and i want to get them. i hope the ceo comes on and offers me a job. i'm not going to take