kailey leinz as tom and jon the day off.sdaq and i'm noticing how there is this weight to the tape despite this feeling that you typically end the year with a little bit of a of optimism, especially after the worst losses in a decade. >> we tried to take that breath yesterday. we are getting a large chunk of that back today as we close out a year that has been so painful for equities. it raises the question, lisa, when the calendar resets how far away are we from things actually improving in the equity outlook? if you believe the strategist which is up to you if you want to believe them, if you do believe them there is more pain to come. we have not actually hit the bottom because we have not seen the rolling over in earnings, we have not seen the real economic pain that the fed is trying to engineer. >> because it is the last trading day of 2022 we can talk in big sweeping terms which makes me incredibly happy. the paradigm shift we have been talking about. a sea change unlike we have seen in the last couple of decades in t

we have a lucky roster with matt miller and kailey leinz as we parse through limping to an end and thatels like after an exhausting 2022. people trying to find some reason for optimism and not quite finding enough. kailey: we are all exhausted. everybody is probably over it and ready to start fresh again next year. every time the equity market has attempted to rally it has faded. santa claus did not come to town for this equity market. there is concern about earnings come about the prospect of recession come in concern about what the federal reserve will do if inflationary pressures persist and they have to go harder for longer, which this market has been trying to fight against. lisa: matt, i've been trying to paint you as a bear this morning because you've been talking about for now things are ok but it will get worse. you see a bullish case you are not expressing? matt: there is a bullish case, maybe a smaller one than the big cracks in the credit market i am worried about. you could see this drive down as a lot of tax loss harvesting, investors trying to lock in the losses for the 2

matt: welcome back to "bloomberg surveillance" i am matt miller with kailey leinz. jon, and tom are off. ari on the show all week together? kailey: quest -- yes, you and i will be here all week. matt: let us talk a little bit about markets. we have seen a lot of green on the screen in europe, gains not in london, london is still close. but the rest of europe is open and we are looking at gains and u.s. future as well. kriti just back from london is here with us to give us a look at the market on this i do not think there is an official name for today, the day after boxing day. kriti: it has been a month since i was back from london. you are seeing the sentiment story across from asia and you can see that flying high. the f -- the s&p 500 up about seven -- .7%. the russell 2000 features well. if you look at the equity trade on the good days the russell outperforms and on the bad days the russell does not do anything. you are starting to see a little bit of this and pension, the idea if that the u.s. cannot hold its own or better than small caps be the place that are u

more markets coverage ahead with kailey leinz and sonali basak.is bloomberg. ♪ john: keeping you up-to-date with news around the world, john heilemann. xi jinping told dmitry medvedev that his country would like to see talks on ukraine. beijing trying to improve ties with europe. the state broadcaster reporting xi he told the former president his admin straight and has been promoting peace and talks. china has avoided criticizing russia over the wharton you. months after shanghai endured a brutal lockdown to stop the spread of covid, the virus is starting to make its way through the city's 25 million population. hospitals are struggling to

i am kailey leinz alongside matt miller.e giant shoes but they are off on holiday week. nonetheless, we are positive in the futures session. matt: do you think tom wears a size 14? kailey: i have no idea. matt: i was a 13 or 14. kailey: i am not a short person and he towers over me. matt: and me. he must be about 6'7" because i'm six foot he is taller. kailey: which is why he gets the big chair, which is what you are sitting in. matt: i am not sure i fill it but we are seeing futures higher. european equities trading higher. we saw that at this time yesterday and then we saw a real turnaround. dragged down by the big tech companies. concerns about apple's cell phone production, concerns about tesla's car production in china dragging us down and giving us an 11% drop in tesla. seven days in a row the stock is down. 69% year to date. kailey: the direction those typically move tends to be the way the broader market moves. but to your point on tesla, it is far less a heavyweight than it was earlier on this year. at one point it

this the price of bitcoin matter in the crypto world of kailey leinz -- daily lives?atie: bitcoin miners are not actually out there with picks and shovels but when you think about the hardware they have to bind how much they have locked into these machines, it is fairly -- it is very important. tom: those two below zero in abilene matter? katie: absolutely. some crypto miners have had to shut off their machines to alleviate some stress on the grid. tom: what is this due to the price? katie: in terms of price, be the direct fact to the minors is not there but it affects the minors. you have seen a wave of vacancies in the crypto minors space so there is where big problem. tom: i am just keeping my mouth shut. silencing her was a surveillance court in my mouth. i think you so much. lisa a: this is interesting because there is an issue with innovation. how do you foster innovation and a new concept to potentially create interesting infrastructure that could make things better while weeding out bad actors? this really throws a damper on this. tom: ok, i am in trouble righ

. >> gerber kawasaki's ceo speaking to bloomberg's kailey leinz.t what we are seeing when it comes to futures trading for the european session. we did see the big jump in european stocks, the most in six weeks, as we see the return of risk appetite for the region's equities. futures, unchanged at the moment. german ducks futures, looking pretty flat to negative. we are seeing in these last days before the christmas public holiday, the volumes are going to be pretty thin, with a lot of traders already off for those holidays. the return to risk really follows a magnitude of losses that have been fueled by the hawkish stance by major central banks. it will be interesting to see whether we can carry that through to that last santa claus rally. >> so much news just ahead of the new year. we still have one more central-bank decision, and a couple more actually, let's focus on indonesia. the bank will release its interest rate rescission today . we expected 25 basis point hike. let's get a preview with our correspondent in jakarta. we do have pressure on

kailey leinz, matt miller, and the crypto show will get there. i guess they do one next week.after christmas. tom: the story is moving so fast. lisa: can i shift gears? carmax are pushing out, a huge shift. their shares are down 13% in premarket trading after reporting quarterly earnings short of expectation. why is it so expensive to rent cars? this does not give the answer but it speaks to the massive and quick deceleration in prices of used cars and how that is filtering in to one of the biggest used car dealerships out there. tom: back down to 50 and back down to where was 6, 7 years ago. lisa: $.24 a share. the estimate was $.65 a share. significant underperformance after downgrading. tom: are you front loading your equity report? lisa: i find this interesting. the reason i find this interesting is because we've been talking about the disinflation. it is coming in pockets and used cars is one of the biggest pockets. vehicle sales are an input into consumer sentiment. tom: i am amazed with the byes in the outperforms on the street. lisa: are you being snarky? is the holida