katie greifeld poking into the logic of portfolio management. e what investors are doing and some of the statistic struck me. the story of the most read on the day. katie: basically it is go big or go home that is what you are seeing when it comes to the etf industry. there are two ways to look at concentration. when it comes to equity etf's that have less than 50 holding so a very small portfolio, 88 of those etf's lunch to last year. you think about the 2010s, the average was 19 new lunches of less than 50 holdings. if you look at the average number of holdings in new equity etf's, super concentrated measure, the average number of holdings in equity etfs is around 136. that is the lowest level since 2010 or so. portfolios when it comes to equities, they have been getting smaller. sonali: is this so much of the evolution you are seeing away from mutual funds to stockpicking coming in the etf wrapper? it used to be by an index fund, let your money sit there and let it ride. putting a lot of faith in people . i katie: think it is an interesting st

i'm katie greifeld in new york. we have hovering near all-time highs. at the stock level, things are much more exciting. take a look at the nasdaq 100 we have that bond market rally continue. about five basis points right now. it could change tomorrow when we have those pce numbers, but for right now, one stock we are watching is walgreens. it cut its profit forecast for the full year. joining us now with more is fiona rutherford. >> this is the second time they have lowered their guidance. it shows how tough the landscape is right now. less people going into retail pharmacies. walgreens is having we think their footprint. it is brutal. at least taking a look, at least wall street does not have a lot of faith in the turnaround plan. >> i think that they feel that the plan is solid. an analyst from bloomberg intelligence said earlier today that the excitement around the new ceo has probably dissipated now. >> you can definitely see that in the share price right now. i know you have a very busy morning, so we appreciate you taking a moment for us. it join

i'm katie greifeld in new york. welcome to bloomberg markets. looking at markets, some green on the screen. you can see the s&p 500 up by .2 percent. looking for action, take a look at big tech, the nasdaq higher 5.7%. give big tech a leading the rally and all the while volatility draining from the vix. if you can see the vix at 813 handle, below 13 earlier today. right now, green on the screen but we have breaking ism services data, michael mckee joins us with the details. michael: interesting to see the reaction because the ism services index comes in higher and up from the prior month. we are at 53.8, from 49.4. the forecast was 51 .0. instead a big improvement. and at the same time prices paid falls, and employment is a bit of a disappointment. 47.1. the forecast was 47.2. the new orders index improves, 54.1 from 52 point two. when you look at what is going on with the ism numbers you have to ask the question, is this economy slowing significantly and the fed should worry or is the economy growing at a reasonable pace and normalizing. katie:

. >> i'm katie greifeld in new york. welcome to "bloomberg markets." you can see there's green on the screen on this first trading day of june. the s&p 500 up .3. and some breaking news that nyse equities is investigating a reported technical issue. breaking news just in the last couple of minutes. we're going to continue to keep an eye on that. looks like it's not affecting trading too much. we'll bring you that news as we have it. bitcoin, just wanted to highlight the risk asset rally. bitcoin up about 3% right now. we are getting closer and closer to 70,000 of coin. we'll track that as well. let's get to a slew of economic data that crossed the terminal this morning. mike mckee is here to break it down. >> katie, you're looking to trade on the idea of a federate cut, maybe we have some good news for you in a bad news ism. it comes in at 48.7%. that's down from 49.2. the forecast had been, it would go up to 49 1/2 and remember, just a few moments ago, we got that s&p global pmi for the united states. so this one comes in weaker than expected. prices

i'm katie greifeld in new york. take a look at markets, interestingly, some of those gains you saw yesterday and at the trading bill starting to come back a little bit. s&p 500 still higher but only to the tune of about .1%. we had a big, big rally after cpi and then the fed meeting yesterday. but gains cooling a little bit. the nasdaq 100 is the outperformer right now, up about .8%, a healthy margin. a big winner and a big loser, and that is your small stocks, small caps currently down about .7%, certainly not feeling the love today. let's get back to that eco data because u.s. producer prices unexpectedly declined in may, the biggest dip since october. mike mckee, unexpected more good news for the fed. mike: it appears that way, maybe we are starting to see some possible flaws in that, and that make the why the markets are pulling back a little bit. we did see jobless claims rise, and remember jay powellthere's e same thing happened last year, this exact same week, so does it hold that jobless claims stamped or wi

. ♪ >> i'm katie greifeld in new york. welcome to bloomberg markets.ake a look at markets on this monday. there is read on the screen. the s&p 500 is up by 2/10 of a percent or so. same thing for nasdaq. down 2/10 of 1% when it comes to big tech names. looking at small caps, the underperformer so far is down about 7/10 of a percent. about 30 minutes into trading. in some ways, we are in a holding pattern because we are counting down to wednesday's fed decision and the cpi print. ed's are pushing out their rate cut expectations following a stronger than expected may jobs report. mike mckee is here to break it down. i feel like i am still digesting the friday job spring. but we are back in the action this week, again. mike: we are back in the action although markets are probably going to be on hold until wednesday morning. i will give you today offer good behavior. a lot of economists have looked to small business for clues to direction on the u.s. economy. that will get some attention. of course, wednesday is the big day. you mentioned cpi and the fed.

i am katie greifeld in new york. welcome to "bloomberg markets." take a look at markets on this friday. after the blowout jobs report, we are paring back losses. the s&p 500 lower .1%. same thing if you look at the nasdaq 100. we could end green on this friday. the bond market is a much different story. the selloff pushing yields on the 10-year treasury higher by almost 14 basis points. we are headed back to 4.5%. we will see if we get there. let's go back to the jobs report this morning. job growth searching and wages accelerating as well. however, the unemployment rate also arose for the first time in two years. mike mckee is here to break it down. you have had about 90 minutes to think about it. what is the takeaway? mike: president biden is speaking. not hard to guess what he will be touting. 272,000 jobs created last month, well above the estimate of 180,000, above pretty everybody's estimate for the month. quite a surprise. we saw a revision to 165 in april from 175. a total of 15,000 over the last two months. that is negligible. the first ti

. ♪ i am matt miller in new york standing in for katie greifeld who is down and the bloomberg investonference if you want to tune into that. live go on your terminal. we are looking at the s&p 500 gaining only about .1% right now. nvidia is honestly a big help, up .3 -- 3. 3.25%. the euro right now down against the dollar only about .3%. it has been in the 106's in the last couple of sessions. there is concern global investors are warning eu officials to reassure investors they have their finances in order before the snap elections that start on sunday. the first round of voting in france and they will finish on july 7. we have consumer confidence data crossing the terminal now. let's go over to michael mckee, chief economics and policy correspondent to get the details. michael: we have a little bit less confident consumer out there today. the conference board's numbers for june at 102 for the headline, which is higher -- 10 0.4, which is down from 101.3. the present situation is 144.5. the expectations number, 73, a little bit lower. the big number in the consumer sentiment index, t

katie: i am katie greifeld. scarlett: they've not kicked us out yet. analysts warn of a possible shock to markets as we get a double dose of ego headlines with u.s. cpi and the fed decision on wednesday.

. ♪ katie: i'm katie greifeld a new york, welcome to bloomberg markets.e are seeing a bit of a decline in the s&p 500, you can see currently off by 2/10 of a percent. not as far down as it was a couple minutes ago. the direction of travel has been lower so far this morning. a little bit of volatility coming back into the market at least measured by the vicks. currently trading at 13.5. we were below 13 just a couple -- ago. we are still lower on the day. after what we saw with pmi and now we are getting some existing home sales seeing that rally out of the market. u.s. may existing home sales up .7%. you can see the estimate had been for 4.1 million so it's a little bit above that but still compared to the prior release 4.1 4 million a definite decrease there. so we will follow that. this could provide traders with some short-term market swings today. we see an estimate of 5.5 trillion dollars worth of options tied to indexes, stocks and etf's fall off the board. abigail doolittle is here with a preview. abigail: 5.5 trillion dollars estimated worth of op

. ♪ >> i'm katie greifeld in new york. welcome to "bloomberg markets." rkets at this moment, and it's tepid out there. katie nasdaq 100, higher. and meanwhile, it's the small caps, the little stocks that are the biggest loser today the russell 2000 off by .4. but let's talk about a big winner, at least for one day. because shares of rivian getting turbocharged after announcing a $5 billion pact with volkswagen. it gives vw access to rivian technology while rivian gets a mush needed infusion of cash. while wall street celebrate the deal, the head of equity analyst says to pump the brakes. >> this is huge sigh of relief rather than a celebration. but it's $5 billion enough for them to meekfully -- meaningfully rival what tesla is doing? katie: joining us on boum is ed ludlow. how substantial is this for rivian going forward? >> a lot of staff of rivian is that it derisks the balance sheet issue. a lot of people have focused quite singularly on rivian's rate of cash burn as recently as the first quarter of this year and they're still losing about $40,000 for

. ♪ katie: i'm katie greifeld in new york, welcome to bloomberg markets.t's an interesting story in markets right now. the s&p 500 is lower by 0.1% with the nasdaq 100 down about 0.1% and the 10 year yield is falling now, currently lower by about six basis points. one of things putting that into the bond market is the u.s. april job openings data the just dropped. in april, u.s. job openings fell . the estimate had been for 8.30 5 million. maybe some good news for the fed. liz mclaurin's it just liz mccormick joins us now. i'm looking at the 10 year and the two-year and we are falling now in reaction. >> yeah, this jolts number was below consensus and was even below some of the numbers from people there were already below consensus. we've had a string of data that has revived the hopes of how much the fed will call -- will cut this year. yields were down to come into the day on they are falling more office. as you see now, fully priced for a cut in november and over 70% chance for one more. for a while, we were swiping away only one in recent weeks. the da

i'm katie greifeld, in new york. welcome to "bloomberg markets." markets are quiet this morning with interesting economic data coming in later in the week, but on this monday you can see the s&p 500 is down by a hair, talking 1/10 of 1% lower for a benchmark close to record highs. same thing, but looking at the nasdaq 100 is slightly higher. you are getting a little bit more action when it comes to the chip names. the philadelphia semiconductor is currently higher by 2/10 of 1% but even with muted action you have wall street goals getting more bullish on the s&p 500. evercore, goldman, some of the latest to boost calls. joining me now is abigail doolittle. let's start with goldman. a third straight forecast boost. abigail: it's pretty interesting, friday they boosted their year-end target. it had been at 5200. this is their third rise in recent history from goldman sachs, as you said. clearly expressing a bullish view, keeping up with the index appreciation. 5600 is the current level, not a huge amount of potential appreciation, but they are saying

. ♪ i am matt miller and for katie greifeld. welcome to bloomberg markets. look at what's going on on the s&p after a 30th record high close yesterday. the index is up again. just .1% but to 5480. nasdaq down. the u.s. ten-year yield taking down -- ticking down after the retail sales number disappointed. the consumer is showing signs of weakness. may retail sales came in below expectations. joining us with more is enda curran. what do we know about the drop and is this consistent with the trend? >> it is weakness across the board. softer than expected increase but also a revision down for april. it looks as though consumers are shopping around for more online discounts, for more bargains. we know the price discounting is part of this. the numbers are not necessarily just for inflation. there is a trend that consumer spending over the past few months has been trending lower. there are caveats. there is expected to be some spending on services. when you member the backed up of interest rates being very high, credit card debt continuing to increase, the fact th

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i am katie greifeld and this is bloomberg. ♪ life's daily battles are not meant to be fought alone. -as we don't lose sight of what's important. don't be afraid to seize that moment to talk to your friends. - cloud, you okay? because checking in on a friend can create a safe space. - the first step on our new journey. you coming? reach out to a friend about their mental health. seize the awkward. it's totally worth it. life's daily battles are not meant to be fought alone. - we're not powerless. so long as we don't lose sight of what's important. don't be afraid to seize that moment to talk to your friends. - cloud, you okay? because checking in on a friend can create a safe space. - the first step on our new journey. you coming? reach out to a friend about their mental health. seize the awkward. it's totally worth it. >> from the heart of where money and power combine in silicon valley and beyond, this is bloomberg technology, with caroline hyde and dan ludlow. ed: i'm ed ludlow in san francisco. caroline hyde is off. coming up, we have full coverage of the first presidential debate

. >> for the viewers worldwide, i'm katie greifeld. stock futures are broadly higher.roviding fresh gains in the tech sector. adding to the optimism. treasuries on the brink of breaking even after a roller coaster first half. ai optimism continuing to push the

. -- i'm katie greifeld. focus on the data rather than that we -- rather than the debate.rmance creating more questions than answers about the future of the election. futures on the rise as the latest pce data shows slowing inflation supporting the case for a rate cut, and

visit feedingamerica.org/actnow >> from new york city, i'm katie greifeld.ng up, stocks lower after closing another all-time high. fed speak picking back up after cooling inflation data and investors voting in favor of elon musk's 56 billion dollar pay package. we begin with the big issue, the s&p 500 notching record highs every day this week. >> if you run a marathon or race and you spring for seven months, you're going t b