kailey: thank you so much. coming up, new york city opening up indoor dining at limited capacity in time for valentine's day. but some restaurants are saying no thanks. we will speak with the new york state restaurant association ceo. this is bloomberg. ♪ (announcer) do you want to reduce stress? shed pounds? do you want to flatten your stomach? do all that in just 10 minutes a day with aerotrainer, the total body fitness solution that uses its revolutionary ergonomic design to help you maintain comfortable, correct form. that means better results in less time. and there are over 20 exercises to choose from. get gym results at home. no expensive machines, no expensive memberships. go to aerotrainer.com to get yours now. >> let's check in the bloomberg first word news. the administration is changing the way the u.s. handle asylum-seekers. it will slowly admit those who were turned away by the trump administration under the remain in mexico policy. there's an estimated 25,000 migrants waiting at the southern bord

kailey: live from new york, i'm kailey leinz with guy johnson in london.his is the european close. stocks are ticking higher on both sides with the s&p 500 set to an -- to close on a high. abigail doolittle is explaining it all. abigail: froth, all the liquidity sloshing around in the system is showing up in assets across the board. beyond the reddit craze and those huge moves, you can see this in bitcoin. since last may, bitcoin making greater than 20% increases each month. right now, month to date showing a gain. if we turn to the stock space, it's on fire, incredible. last year they raised $81 billion five times. stocks on pace at this moment to raise double ipo's. so this continues for these blank check companies. speaking of hot ipo's, this is the white line, ipo stocks, up 145% since last january on huge volume, really outpacing stock indexes, gold, the dollar. and one ipo in two days was up more than 80%. if that's not a sign of exuberance i don't know what is. guy: so many examples. thank you. some breaking news. it's being reported by the cdc, acc

kailey: interesting.ant to ask you, draftkings is a big rival and that is up to 50% since it went -- 250%. i am wondering if fanduel has any plans to go public and if you did so, if you would also consider going this background? matt: our focus is being -- building the best business for our customers. we are fortunate through our relationship that we have all the resources we need to do that. that is what we are going to continue to stay focused on, being fan-focused and building a great business. guy: what do you think is going to happen sunday? if you were going to bid on this event, which elements of this event would you be betting on? matt: the most fun part of our customer experience and where we are getting the most positive feedback is our same-day parlay product. we have hundreds of different things people can bet on. in parlay, they can. goes into to them -- two, three, and create something custom. if i could bets, which i cannot, i would be doing same-day parlay because i think that is one of th

guy: kaylee -- kailey? kailey: sorry, we are crossing wires.t to get your thoughts quickly on the fx market. countries that are doing better on the vaccine front, their currencies are performing better. that has made a stronger dollar than i think many people anticipated. do you expect dollar strength to continue? david: we just finished writing about a week and a half ago, we had given a negative position on the dollar, which is extremely large and we thought a countertrend rally was possible for a time. that is scored by what you said about the vaccine. obviously the economy could reopen sooner and vaccinations will definitely benefit. but for the longer term, given the amount of fiscal stimulus and borrowing the u.s. is doing, we still believe the dollar will be on the downtrend. that's why we like emerging-market assets. and one more comment given about what we were talking about with the relative actions of the u.s.-u.k., and europe. we have these two fastest-growing areas. when you look at these economies and how they are set up fiscally

james: i agree, kailey. my view from the back end of last year to this year is that asset was not particularly robust and not a very stable equilibrium, at least in part, not largely because of the dynamic. the talk -- the fact that you talk about a u.s. idiosyncratic growth shock in the world of meager growth, certainly meager bond yields, and that pushes u.s. equities up and outperforms global equities, and that pushes treasury yields up. treasuries underperforming, and somehow that would be dollar negative. there are not many if any periods of history where that has been the case. i think the tailwind of the dollar, the headwind of the dollar bears are ahead at this point because it does not look like -- now that exceptionalism, u.s. exceptionalism is a cliche come ultimately the dollar thinks the market should still go down. thinking about inflation dynamics. francine: thank you so much, james athey stays with us. we are getting breaking news out of china. china may ban some of the rare earth technology

vonnie: obviously, the pandemic is global, kailey, but is the u.s. growth a u.s.or do we see it elsewhere, too? kailey: we see it elsewhere, too. the grove sought 12.9% growth in the quarter. in the u.s., only 3.6%. the really strong growth was from europe, the middle east, and asia-pacific. asia-pacific sales were up 14.2%. china used to make up 5.5% of sales three years ago. now it is more like 9%. you see a lot of strength in the international parts of the business. vonnie: kailey leinz with our stock of the hour. invisalign helping to push the s&p 500 to records. amanda, i know you are pointing to the toronto talking change at a record as well. --stock exchange is a record as well. amanda: we are in fresh high territory. vonnie: we aren't is been jobs report out of both countries tomorrow as well, and we may see a little bit of divergence, according to analyst i was reading this one. we will bring you the latest with labor market guests tomorrow. that dichotomy could exacerbate the u.s. dollar profile. this is bloomberg. ♪ . . mark: i am mark crumpton with blo

kailey leinz is lessening. kailey: shares are down about 8% but we have to keep that in context. up over 100% in the last year so expectations were high. where the big downside came from was revenue guidance. spotify is guiding between 1.4 and 1.9 billion euros, still grows at about 9% at the midpoint. it came in below the lowest in a mill -- analyst estimate. that of course is a forward-looking view. a backward looking view was better than expected in the fourth quarter, particularly on subscribers, adding 25 million. the total active user base, 345 million. they also saw premium users grow 24%. the issue is that revenue per user, really the metric investors care about, has fallen slightly. they did rebound in the fourth quarter. the depths of the pandemic saw declines of up to 24% but were able to -- a big part of the driver is podcast. that is where spotify is putting its focus. they said podcast consumption hours in the fourth quarter are nearly double what they were two years ago. they think the podcasts are driving it and could moderate any churn from the slowdown in the mu

kailey: uber, the deal of the day.e are getting a lot more food delivered to us as a result of the pandemic, and uber is looking to expand its offerings to alcohol. they will be buying and hall beverage delivery startup. drizzly operates in about 114 cities. a lot of people wanting to get their alcohol liver to their door. this will benefit uber in their delivery business, which is making up a bulk of the company's revenue, given the ridesharing business has fallen off. uber eats saw sales up 120 5% in the third quarter, and they are clearly making a bet that this home delivery boom is not going anywhere soon, even as the pandemic fades away. vonnie: thank you. the run-up a reddit trades starting to plunge. how are hedge funds looking at this recent market frenzy? joining us for more is pieter taselaar, managing and founding partner at lucerne capital. you opened in 2000, a lot of experience in the markets. your reaction to how traders took on a short last week? pieter: as you know, we focus mostly on european markets,

matt miller, and kailey leinz. i am francine lacqua, with matt miller and kailey leinz. these are the top stories we are following today. u.s. lawmakers grill the key players in the gamestop frenzy. in the five-hour hearing, the robinhood chief executive, vlad tenev, takes most of the heat. a vaccine surge is coming. bloomberg analysis finds that america's rollout is about to get a big boost. but what about those left behind? welcome to bloomberg surveillance, the early edition. president joe biden is

vonnie: kailey leinz, thinking. -- thank you. wanna lose weight and be healthier?t's time for aerotrainer. a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time. it allows for over 20 exercises. do the aerotrainer super crunch, push ups, aero squat. it inflates in 30 seconds. aerotrainer is tested to support over 500 pounds. lose weight, look great, and be healthy. go to aerotrainer.com. that's a-e-r-o trainer.com. vonnie: some of the biggest names are pumping billions into aggregators, that sell everything from tea kettles to sunscreen on amazon. we have a story from spencer now. this is a story i was not aware of. all of these companies that have intervention that has taken off -- invention that has taken off on amazon. people are starting to notice it. but other people are aggregating several of these companies now, so it's plain about these aggregators, who they are and where they are getting their money from? spencer: sure. the p

jonathan: joining us our kailey leinz and abigail doolittle. kailey:

kailey: gamestop down 100 -- i am joking. we are talking about retail traders finding this people -- finding the silverlining. the price of silver surging as the reddit army turned its attention to the precious metal. the ishares silver trust etf c and unprecedented flows of late. an investment product that benefits can griffin's citadel with its rallies. joe, you called it several years ago. silver bugs, they are into conspiracy theories. this has been another perfect storm of retail trade. joe: i am not going to say anything negative about silver bugs because i am worried that our guest coming up might be a customer. silver is doing very well and internet chatter seems to be a part of it. romaine: i don't think there are all that many shorts in this. you take a look at the cftc positioning, you can see the net longs here, more important, you look at the trend line, even if you go back beyond 2017 this is not a heavily shorted sector of the market. joe: joining us is ken lewis. his firm is often called the walmart of preciou

. ♪ kailey: this -- ritika: this is the european close.gle, national education association president at 1:00 in new york, 6:00 in london. this is bloomberg. alix: live from new york, i'm alix steel. guy johnson is in london. this is the european close on bloomberg markets. italy's search for a new government looks like it is stalling. the parties that make up giuseppe conte's government are struggling to form a more permanent coalition. i'm not kidding that i read multiple articles trying to figure out where the political standoff was and i do not understand. what can we expect later on today? >> is a very good question and i do not have a good answer because the situation is very murky, very fluid, very unstable. what will happen later today is the speaker of the lower house will continue the talks among coalition parties will report to the president of the republic who is in charge of deciding who is next prime minister and he will report on the progress of the talks. we do not know whether they were successful. the signs are they have n

kailey leinz emails and says you have to do dollar pesos. 20 point 08, mexican peso right now.n not through at 120. futures are -10. dow futures at -41. the vix does nothing. it is boring like me. richard trumka with david westin at noon. lisa: you are never boring. manus: good morning. a bit of a break out in the treasury market. a lot of cash looking for a home. >> too much cash and none of collateral. when you look at it. >> that's a lot of money looking to find some yields. >> it means a bear market in u.s. treasuries. >> there will be additional downward pressure at the front end of the curve. >> they are sitting on the short end, probably until 2023. >> it's very easy monetary policy. >> there is a lot of cash and the banking system. >> there might be

. ♪ kailey: -- ritika: coming up, howard lutnick, cantor fitzgerald chairman and ceo.omberg. guy: from london, i am guy johnson with alix steel in a snowy new york. this is "the european close" on bloomberg markets. robinhood raising another $2.4 billion according to dow jones. the liquidity risk around it is something i do not think everybody was ready for. you can understand why robinhood needed to take on additional amounts of capital to absorb all of this. when you have this additional pickup in volatility around the stocks, you have to compensate for that. that means you need or liquidity, more optionality to deal with all of this. it does look as if we are getting another round of raises coming through, $2.4 billion this time around. there has been an attempt by reddit traders to move silver. the precious metal moving above $30 an ounce. this after weekend buying silver points in bars, but as you can see we are a bit below that. 28.98 is where we are. joining us is eddie van der walt. you are deep in the weeds on these markets. give us your thoughts on what is ha

tom: i dazzled kailey leinz this morning and the 5:00 hour with a positive 30 year yield.re we seeing higher yields or a normalization from the really distressed yields we have seen? i am going to go with the optimistic case that we are normalizing. jonathan: you know where lisa is going to go. but i think we should be asking this question. i keep hearing the reflation trade, but this move in the last few days has been real yields, and inflation expectations haven't been coming along for the ride. lisa: if you take a look at five-year year five year breakeven rates, the expectation for inflation over the next 10 years has declined for five straight sessions, which really calls into question this reflation trade. i would argue that is what you are seeing in stocks, the knee-jerk reaction when yields go higher is for stocks to go lower. it is concentrated in the most overbid stocks, and yet you wonder if there is a self corrective cycle that starts to kick in, where people view this as risk off and then go back into bonds. tom: i agree 100% with lisa that there is hesitation

we were not getting that in the trump years, especially in the days of the kailey kaileyleigh briefings. we were getting essentially abused by kaiyleigh mcenany for so long and inciting her followers to not only harass us on line but go to deadly ends for some people with death threats. now we have jen and the entire biden team. it is refreshing, but it is important to remember that the bar has literally been left on the floor and just being able to show up and clear it isn't enough. >> no. >> so it's great that we're having briefings every day, but we're seeing -- we heard in that package jen chiding about the space force question, dodges on questions about marjorie taylor greene and we should be able to ask the questions even if it makes them uncomfortable. showing up is important, but being there -- >> you brought up greene and she said they're not going to answer any questions about her. is that going to be tenable? >> i think it's completely untenable. there is a huge appetite for content that pushes disinformation. this is a growing problem for the biden white house. if they prete