for jon erlichman, i'm matt miller. bloomberg. ♪ the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com loving this pay bump in our allowance. wonder where mom and dad got that athe extra money?irst. maybe they won the lottery? maybe they inherited a fortune? maybe buried treasure? maybe it fell off a truck? maybe they switched to xfinity mobile on the most reliable 5g network. for a limited time, buy one line of unlimited, get one free for a year. now i can buy that electric scooter! i'm starting a private-equity fund that specializes in midcap. you do you. switch to xfinity mobile today. romaine: too hot to handle, too cold to hold. live from studio 2 in new york, i'm romaine bostick. katie: and i'm katie greifeld. you look at the u.s. equity market and we have switched from losses to ga

jon: i'm jon erlichman pit welcome to "bloomberg markets." matt: i'm matt miller. we are seeing gains on stocks even as the yields rise as well. we are listening to comments from benjamin netanyahu, right now speaking in english, talking about the israel-hamas more. let's listen in. prime min. netanyahu: it will continue to use mosques as fortified military positions and weapon depots. they will continue to steal fuel and humanitarian assistance for facilities. while israel is doing everything to get palestinian civilians out of harm's way, hamas is doing everything to keep palestinian civilians in harm's way. israel urges palestinian civilians to leave the areas of armed conflict while hamas prevents those civilians from leaving those areas that can point - -at gunpoint. hamas is preventing foreign nationals from leaving gaza altogether but most despicably, hamas is holding over 200 israeli hostages including 33 children, holding them, terrorizing them, keeping them as hostages. every civilized nation should stand with israel in demanding that these hostages be fr

i am matt miller with jon erlichman. produce offshore wind energy is making the 2030 old look further than ever. bloomberg new energy finance is pared back their outlook by 29 percent as building costs for wind climbs to 48%. bloomberg's renewable energy lead joins us on set. i guess inflation has come back to bite even the biden administration's plans to grow wind energy. >> when joe biden came into office, he made it clear that climate would his big goal. he set out a really ambitious target of having three -- 30 gigabytes of offshore wind capacity but it is clear he will not get there. the latest forecast looks like it will be around 16 gigabytes, just about half. jon: big costs and big right down some players. will: the cost have gone up. still is more expensive. interest rates are higher. it costs more to finance these very expensive projects. we have seen companies take three expensive write-downs as it has become clear they will not reach their targets. mats: has the white house push their targets back? will: no.

i'm jon erlichman with matt miller.ime for the stock of the hour. pepsico, that stuck up today. the snacks and rings giant showing off its pricing power in the latest quarter. there is a look at the shares. the company has managed to boost prices in seven straight quarters. that has helped bottom line performance and the outlook as well for the full year. matt: absolutely. hugh johnston is the cfo of pepsico and joins us to talk about the earnings and the outlook. for me one of the most interesting issues is this ozempic issue. we have seen so much fascination in markets and a report from walmart says those that get those prescriptions go on to buy a lower calorie basket of food when they get to check out. you do not see any impact from these drugs so far? hugh: no. good to be with you both. we cannot detect it in our numbers at all. i recognize there is a lot of speculation, particularly in the market, on the implications of these drugs we are studying it closely. the only things i would offer is there are real barrier

with jon erlichman, i am matt miller, and this is bloomberg. ♪ returns.is our anxiety entering a new phase. live from bloomberg headquarters, i am in bostick katie: i am katie greifeld. we are taking you off to the close. it is a down day in the stock market. the s&p 500 is off by 0.8%. a little off session lows but close. the nasdaq 100

jon erlichman back with me on "bloomberg markets". d and larry were speaking we saw the start of trading for birkenstock. what we know? jon: this is our stock of the hour, literally. birkenstock has begun trading. what is going to be notable, as everybody was waiting for the open, is the first trade was at $41. this got priced at $46. you're talking an 11% decline. the bloomberg team was quickly looking at the data. ultimately, if you are looking at the data that bloomberg compiles, this technically is the worst opening for a listing of a billion-dollar deal or more in new york over the last couple of years. adding to that, out of more than 300 u.s. ipo's the last century, only nine have fared worse. we have the rest of the trading day but we want to get instant reaction as well. jessica ramirez has been tracking this and is kind enough to join us. senior analyst at jane hali & associates. jessica, let's start with this negative reaction to a very high profile deal. jessica: thank you for having me. i am not surprised. it is quite a vo

. ♪ jon: i'm jon erlichman. welcome to "bloomberg markets". matt: and i'm matt miller.wout this morning drove equity markets down and yields higher, but we have had a turnaround. equity markets are gaining and we are at a session high on the s&p. 1.2% the gain. take a look at the 10-year yield, 4.78. earlier we shot up over 4.88. hitting fresh highs

jon: i'm jon erlichman and welcome to bloomberg markets. matt: i am matt miller.a check on the market. you will see a lot of down arrows. the s&p 500 is down, right at zero. 40 to 53. the 10-year yield is

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i want to welcome in our bnn audience, they join us up here on bloomberg news and jon erlichman.elcome to the show. great to have you here after listening to president biden there, let's bring in the director of pop -- of the policy isaac boltansky as well as wendi benjamin'sthe chaos in congresss this new proposal for student debt relief, which is only i guess you could say $9 billion, it doesn't seem like very much. it is still spending money. there is much more money in mortgage debt, why not cancel mortgage debt if you want to help out american people? >> young voters. they are the ones, they are much more likely to support biden for his reelection then they would donald trump, the likely nominee and former president. they are unimpressed so far with joe's handling of things, especially the troubles he had with relieving student debt. it will put more spending in people's hands, they will give relief mostly to young voters, lower income people who he desperately needs to turn out in november, 2024. matt: what was your take away from the press conference that we just heard? it

. ♪ warnings ♪ >> this is bloomberg markets i'm jon erlichman. matt: i'm matt miller.t at session lows the s&p 500 off 4191. abigail doolittle pointing out earlier we are below the 200 day moving average. in those terms at levels we have not seen since march when svb and other regional banks collapsed. 10 year yield rising a headwind for equities know of 13 basis points to 4.95 seven, getting closer to the 5% level we went through monday. the bloomberg u.s. dollar index also a headwind rising now. 1276 is the level there. of another headwind from oil. crude rises dollar $.10 per barrel to 8484. those things are bad for stocks. as a result stocks continue to fall. jon: one of the other headwind has been the technology selloff. you have a tale of two tech earnings. the market continues to digest. all such a long we have seen weakness for google's parent company alphabet as the cloud component of the business seemed to be the worrisome part of the results last night. those shares are off 9%. at the other end of the nasdaq 100 performance, on a day seeing a lot of decliner