i'm su keenan. this is bloomberg. rishaad: we have an exclusive interview with the chief executive of a group looking to make property ownership easier. haslinda: and we take a look at the global impact of queen elizabeth's death. this is bloomberg. ♪ haslinda: we are taking you to london where flags are lying at half-mast and condolences pouring in for queen elizabeth ii -- flags are flying at half-mast. the u.k. will mark 10 days of morning. we have our london reporter and chief north asia correspondent. >> as long as many of us remember here. the feeling on the ground, we just saw those pictures. people gathering with candles to pay tribute to queen elizabeth ii, who passed away in fell more -- balmoral yesterday. her elder son charles will now be king charles iii. he took over from his mother as soon as she had died, and the feeling on the ground is people will be waking up this morning after hearing that news yesterday and still digesting exactly how they feel. this will be a time for people to reflect. we do kno

i am su keenan.his is bloomberg. >> still ahead, we zoom in on africa's's energy transition. first, the final day of a turbulent trading week. this is bloomberg. ♪ >> our next guest -- jay powell silver lining. christian hoffman, portfolio manager at bloomberg investment management. is this a point where market participants start taking the fed seriously? that the fed put is no longer bad? we keep hearing hawkish this which says to me they are still looking for potential upside on the other side. >> the market is caught in this war with the federal reserve and it has been caught flat-footed twice. there was real hope for a good cpi print. and a nice run-up into that. that was totally the wrong take and had a pretty severe correction. we think we thought it was going to be a pretty boring meeting. we would get 75 basis points and something along the lines of data dependence. but, powell came out tough and said, stop trying to get ahead of me. we are going to do whatever it takes to channel the inner d

i am su keenan. this is bloomberg. haidi: still ahead, our guest joins us to discuss why the trimmed exposure to chinese debt -- they trimmed exposure to chinese debt. wondering just how hawkish they will be against inflation. this is bloomberg. ♪ >> our next guest says that with -- persistent inflation makes sense peg let's bringing christopher smart. great to have you with us. this is the key question of fed expectations for the bloomberg intelligence is expecting to see before .5% saw another 200 basis points to go by march of next year. we spoke to dennis lockhart earlier. 5% is also possible although not in base case when it comes to the dot plot in those expectations. what does that tell you about how much of this is baked into expectations and how much we are going to see that balancing act between how long they hold that level as well? >> that is the big question you just asked. the rate tomorrow is baked -- the rate hike tomorrow is baked in and there will be a couple more beyond that but the hiking is not the

i'm su keenan. this is bloomberg.: malaysia's largest public services pension fund says it is embracing market volatility as an opportunity to buy. a ceo told us exclusively about the fund's plan to diversify its international investment base. >> indeed, it is a perfect storm that we are facing now. the interconnectivity that we have is -- in terms of supply chain. inflation is not everywhere. everyone is facing the same issue. our intention, we have a vision 2025 that we have the intention to expand and diversify our investments, international footprint from 20% currently to 30% to 2025. so right now, we are already in over 40 countries in terms of our investments. we want to go from $8 million to $15 billion in comparison to our $14 million -- currently and that is almost double in terms of value. so because of that, we must embrace connectivity. the current weakness we are facing is an opportunity for us to enter into a new investment at a much lower level, at a much more objective valuation. >> where are you seein

jim keenan is joining us now along side: barton -- collin barton.im, it's been a relatively busy be globally for a lot of sales and activity with regard to investor repositioning. is this something people are trying to front run? jim: we are certainly busy. the new norm is a lot of volatility. there's an enormous about of uncertainty in the market in how the transition will go. it's a complete tug-of-war between a level of inflation or the direction of inflation, corresponding policy and what that means for growth. it will be something the markets will have to grapple with over the next year. i would expect a high level of volatility. as the market starts to foresee some shift in policy or a data point that could project that out there will be a lot of repositioning in a thin market. in august, we saw a lot of the risk -- de-risking in that space. caroline: pushing us forward, i'm looking at a 10-year yield down two basis points but pressurizing in the yield curve on the front end. i'm interested in your perspective on the longer-term yields if we h

i'm su keenan, this is bloomberg.e, the minerals managing director and ceo andrew cole discusses their plan to double copper production and capitalize on the mobile push. up next, the world leaders remember queen elizabeth, whose long grain offered -- for the world's conflicts. this is bloomberg. ♪ >> queen elizabeth ii has been a wise and encouraging guide. always wanting the best for our nation and greeting exchange and understanding with grace and the abiding faith in the australian people's judgment. from her first trip here, it was clear her majesty had a special place in our hearts, and we concur. paul: the australian prime minister giving his condolences, just one of a number of world leaders to do so. as we continue our coverage of the death of queen elizabeth ii. we will be live in london in a moment, but first let's take a look back at elizabeth's life and legacy. >> queen elizabeth the second rained during a time of unprecedented technological, social and political change. when she took the throne, there ha

i says, oh, worse, you know, show, i'll say, overall keenan did an okay job, i think. okay, i'm glad you went to disappointed her. thank you for joining us. are catering matthews? there's enough angeles. thank you. that's it. you're upstate more. well, there's the top of the hour coming up next here on d, w. ico africa. look at how a company in somalia is using solar power to turn sol porter into drinking water. us in just a moment. i'm good with with you. a somalia has been hit hard by community change with a issue, but there is a way out affordable desalination of the water and initiative by somali business men demonstrates how it can be done. eco africa. next on d. w in jim been wonderful blue in a release and set of equals a rarity in mexico where tradition still expects women to submit to men. but a new generation wants to change that love and sex taboos in mexico. closer in 45 minutes on d. w. ah, with the landscape a reflection of a turbulent history. the cities, the mosaic of different people and languages. iran's mountains reveal unparalleled beauty. that is w

let's bring in su keenan.r as the oil prices go, concerns over what the fed is about to do and also a weaker dollar. su: it's very choppy in new york. we saw that with brent crude in london. the central bank is said to raise rates this week to try and tame inflation, that has been weighing heavily on the oil trade because we did see the dollar weaken a bit. it managed to have oil come off in today's low. but sick a the five-day chart. in new york, we saw westech fall nearly two dollars before widening back towards $86. it getting a lift in asia trading. generally, as we mentioned, stabilizing, for the same for brent crude. the bears headwinds are still out there in addition to the macroeconomic conditions, we have slowing global growth and rising interest rates. perhaps the most immediate concern, we've got the biden administration planning to release an additional 10 million barrels of oil in november, from a strategic oil reserves, as part of the huge release that was mentioned back in march. in its latest r

su keenan, thank you. plenty more to come on "daybreak: australia."is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. ™ pst. girl. you can do better. at least with your big-name wireless carrier. with xfinity mobile you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a year on your wireless bill over t-mobile, at&t, and verizon. wow. i can do better! yes you can! i can do better, too! now you really can do better! switch to the fastest mobile service - xfinity mobile. now with the best price on two lines of unlimited. just $30 a l

i'm joined by child care in his chief economist at the keenan institute of private enterprises, north carolina. thank you very much for joining us on d to we business. how easy a decision was this for the fact because there is a balancing act to be performed is not it's great to be here. so i think all of these decisions are really hard for the fed because as you say, they're trying to balance fuck fighting inflation and really showing that they're fighting inflation and being very, very, indicating and being very vigilant. and they know that this is the key problem and the risk of causing a recession by these rate hikes. the challenge is that monetary policy is a very blunt instrument. basically what they have to do is they're, they're hammering down on demand in order to slow inflation. and part of the problem is that are met. much of the problem is that there are supply challenges or, or their significant problem of supply challenges of labor shortages. and the fed can't do that, can affect that by raising rates or even cutting rates, what they really need but, but they need to slo

garfield reynolds and su keenan with our top stories today. you can follow more on the story and the days trading on our live . . with more expert commentary to see what is affecting your investments now, you will not want to miss all of the market action. let's get over to vonnie quinn with the first word headlines. >> california's warning residents to prepare for rolling blackouts, issuing a level two emergency warning for the second day. demand is soaring with temperatures above a 40 degrees celsius, across the state, schools and businesses reopening after labor day. the emergency declaration allows officials to order some large power consumers to shut down. saudi arabia has cut will prices for asia and the u.s. as covid lockdowns and a sagging economy school energy demand. it lowered its key arab wave, to asian refiners by almost four dollars a barrel. in line with traders expectations to follow the 25% drop in late futures in the past few months. chinese president xi, is calling for stronger efforts for nationwide resources for develo

supporting actress role, there are a couple of surprises. madame lot, i mean even the show itself with keenan thompson. i'm basically hosting the show, you know, he used to be on s, and now he had his own show and nbc cocky intimate was a cancelled, he was joking about bad. he took a couple swipes at netflix and the problems that they're having. but overall, to be honest with you, it was a pretty safe show. i mean, it started off with oprah winfrey giving out the 1st award. a couple of funny moments. um, but no really mean spirited jokes at all? no, off the cuff real surprises. certainly nothing like the oscars, and i don't think anybody can talk with the oscars did earlier this year turns. i says, oh course you know, tv show, i'll say overall came in, did an okay job, i think. okay, i got you on to disappointed. thank you for joining us. are catering rafters, is my function. thank you. as a reminder of our top story, this, our president vladimir savanski says ukrainian forces have liberated 6000 square kilometers of territory. since the start of the month, increase in military said it recapt

su keenan has more. looks like a russian fuel oil is heading to the middle east and asia?u: those two reasons already, according to statistics that bloomberg has reviewed, have already picked up on their imports from russia. this all has to do with the e.u. starting to step up restrictions and planning to impose sanctions, a ban on russian oil by year-end. both regions have been getting greater shares of russia's shipments since the war broke out, and data from the s&p global commodities highlights how the e.u. sanctions are really during this huge shift. morgan stanley notes china and india, though, saw a 54 percent combined increase in the last month in russian oil products that they are taking. one way that the russian products are being shipped to asia under the radar is through these large shipping hub, where there is a lot of redistribution. some of the russian blends mixed with other products and relabeled. that is a lot of what is going on. this is a shift that will be closely watched in the months to come. meanwhile, we are seeing volatility in oil prices, we ment

bloomberg's su keenan is here, so brutal we had the death cross appearing.e below the 200-day moving average and you get a dramatic reversal and selloff, which is what the charts have been showing. we are city -- seeing a bit of a bounce up in the past couple minutes in asian trading. but earlier, we saw an extension of the 6% drop in new york trading where crude closed below $82 and brent crude had a brutal come down, more than 5% in london trading, where it was below $88. all of this coming on a number of factors. in addition to the technical after, you have bearish rushers from fear of china's zero covid policy and bloomberg -- policy and lower demand. the u.s. cut its annual oil production targets again for the third month in a row. look at the come down on the big picture for oil. it is down some $50, west texas intermediate, from the peak in march after russia invaded ukraine. so, a number of issues weighing on prices short-term. meanwhile, drop into the bloomberg because california is starting to have its own energy crisis. nowhere near the level in e

su keenan joins me. tell us more about this. >> it is a big deal. time that facebook cost parent is cutting its budget, reducing headcounts. since it was founded 18 years ago. it came out at a meeting that mark zuckerberg had. the announcement, a sweeping plan to reorganize and reduce. it went beyond the hiring freeze which meant leaving positions unfilled and managing some employees deemed to be less successful. low performers. it is aimed at cutting costs and we understand zuckerberg warned the team that facebook, meta, would be a smaller organization at the end of 2023. that is a quote. we did obtain some of the -- in the meeting. zuckerberg told the staff he hope to the economy would have become more stabilized by now. addressing some macro issues. however, he doesn't see that as the case and now the company planning more conservatively. amid the budget cut and change is coming he talked about shrinking. some teams are going to transfer members to other growing teams. and obviously he indicated that some people who leave the company, their roles

host keenan thomas promised to keep the toe show drama-free and he delivered. >>> coming up, the country's first confirmed monkeypox death. what they're saying about the victim. >>> and a wild finish if you will. a humpback whale gets extra close to tourists. this is the "cbs morning news." close to tourists. this is the "cbs morning news." keep the toe show drama-free and lactaid is 100% real milk, just without the lactose. tastes great in our iced coffees too. which makes waking up at 5 a.m. to milk the cows a little easier. (moo) mabel says for you, it's more like 5:15. man: mom, really? does your vitamin c last 24 hours? only nature's bounty does. with immune 24 hour plus... you get longer-lasting vitamin c... plus herbal and other immune superstars. get more with nature's bounty. hi, i'm angela. i've lost 58 pounds with golo immune superstars. and i've kept it off. i suffer from autoimmune hypothyroid and i always thought it would be so difficult to lose weight, but with golo, it simply wasn't. with nurtec odt... i can treat a migraine attack and prevent one... no matter what might tr

su keenan has more.ations of sabotage. >> and these are coming from european authorities and u.s. bubbles coming up from the baltic sea are typically the sign of natural gas were indicative to damage to the pipeline. we are talking about the nordstrom pipeline that runs over 700 miles under the baltic sea from russia to germany in a key pathway that is a way to get gas into europe which is currently heavily dependent on russian gas. this is a cat and mouse game that has been going on for several months where putin's russia has narrowed the supply. this changes the game. vulgarly issuing a treat calling it sabotage and warning there will be serious consequences. as a result, you -- the eu is working in concert with other organizations to find a way to secure a better source of natural gas and impose a ban on russian fuel as the ukraine situation continues. let's look at the video. danish authorities provided this and it shows the bubbling up in the baltic sea. that is a sign of natural gas and that is one

keenan thompson will be getting ready for the big night of events. >> it's on me and that has to do well. it will be fine. that's a list with other people as well. as the night goes on i have nothing at stake. i want to have fun and visit with people and just have some genuine moments. >> 25 emmy nominations but we want to wish oakland native for outstanding actress for her role in hbo's "euphoria." you can see the emmy awards here on nbc bay area tonight starting at 5:00. >>> 4:58. the final good-bye. ahead on "today in the bay," we are in london as tens of thousands of people from around the world are set to pay tribute to queen elizabeth. the events getting under way t the events getting under way t honor her o se grand canyon university, a christian university, is one of the fastest-growing universities in the country. located in phoenix, arizona, gcu offers over 290 dynamic academic programs and in 2021, traditional campus students received over $170 million in scholarships. many students attend for less than the cost of a state university and with less debt after graduation. visit

and so he did the theme song for keenan and kel and he was in the intro of it, and i remember comingmake sure i was there to catch the entire opening theme. song and kelly also was in all of that, and i mean he had such a massive impact, but not just music, but on nineties television as well. features and movies like clueless, he was literally one of the most impactful artists of our time, and it's just so sad. we lost him so soon when we when we look at gangster rap, the current incarnation of gangster at much different than the gangster rap that that he was talking about back in the nineties when he was singing and he was rapping. what's different about the lyrics then, as opposed to what we see nowadays in mainstream, you know, there's a great question the conversation a lot of these days is music back in the day versus music right now, and a lot of people say that the music is just missing love. it's missing heart. it's missing some soul even in gangster rap at the time, and i feel like a lot of times with the music we have in recent days. it's a lot of trap music and a lot of gu

clothes and pillar is a popular netflix series squid game which picked up multiple drama rewards. host keenan thompson commented on it from savory characters and yet okay. no taxes. wow . okay. you guys are crazy man. jeff bezos, you landmark in law, am i got everybody i fooled skewed game won't be the last non english seems to be here to be here at the emmys. when he died. it didn't kill real zen die became a 2 time winner for best actress. for her depiction of rude or in the hbo drama, euphoria, my greatest wish for, for euphoria, was that it could help heal people. and eliza from the show watch help to the big girls took her when, personally, when i was a little girl. all i wanted to see was me in the media. someone fat like.

i'm joined by child care in his chief economist at the keenan institute of private enterprise in north carolina. thank you very much for joining us on d to we business. how easy a decision was this for the fact because there's a balancing act to be performed isn't it's great to be here. so i think all of these decisions are really hard for the fed because as you say. ready they're trying to balance fuck fighting inflation and really showing that they're fighting inflation and being very, very, indicating and being very vigilant. and they know that this is the key problem and the risk of causing a recession by these rate hikes. the challenge is that monetary policy is a very blunt instrument. basically what they have to do is they're, they're hammering down on demand in order to slow inflation. and part of the problem is that are met. much of the problem is that there are supply challenges or their significant problem of supply challenges of labor shortages. and the fed can't do that, can affect that by raising rates or even cutting rates, what they really need but, but they need to slo

su keenan joins us. we are hearing from western allies that they suspect sabotage was at play. su: the eu expressing concerns. this has been a cat and mouse game between russia and european allies with the nord stream pipeline being put on maintenance and cutting off the supply, now there is concern that there is more than maintenance issues. the pipeline is extremely important. the eu is working very strongly to try and replace the supply and get some independence. what is important is the eu put out a tweet indicating concerns, no immediate comment from the kremlin. russia has been squeezing energy supplies for months. it has caused natural gas prices to surge and that is what is causing europe to look for ways to resolve this. there was some leaks in the baltic sea, that's how many countries started to take a closer look and raise concerns. meanwhile, you can see the level of storage in european nations is not where it should be so there is concern this could really be catastrophic unless the supply situation is resolved. we're talking that russia has upped the ante in terms

there are a couple of surprises. madame lot, i mean even the show itself with keenan tops in i'm basically hosting the show, you know, he used to be on s it now. he had his own show and nbc cocky intimate was a cancelled. he was joking about bad. he took a couple swipes at netflix and the problems that they're having. but overall, to be honest with you, it was a pretty safe show. i mean, it started off with oprah winfrey giving out the 1st award. a couple of funny moments. um, but no, i really mean spirited jokes at all. no, off the cuff real surprises. certainly nothing like the oscars. and i don't think anybody can talk with the oscars did earlier this year. turns i this oh worse, you know change? oh, i'll say overall came in, did an okay job, i think. okay, i'm glad you want to disappoint it. thank you for joining us. are catering matthews? there's enough angeles. thank you. hi, trading. foreign minister. yeah, le pate is here in berlin, on his 1st official trip to germany. he and the german chancellor will have shouts of agree to deepen corporation on defense, but they remain divided o

shery: are stories and bring in our senior asia reporter, and su keenan and garfield reynolds. this week we are very much watching the inflation numbers in the u.s.. the cpi data, what impact will they have on the fed? >> we have been debating 50-75. things are pushing more towards 75. they signaled they would support such a move, we have heard more hawkish rhetoric from jerome powell. we heard from esther george, a longtime hawk, cautioning against moving too quickly. we do keep hearing the references where they are not really talking about winning the inflation viper warning about what happens when you let up too quickly. fed officials pushing, saying we will see this through to the end. 22a75 basis point hike. we are entering a blackout period. we will get a break from the fed officials talking. have a cpi up report -- we have a cpi report in washington. not a huge step down, it is a meaningful step down none the less. 8% is still skyhigh, pushing on track for 75 next week. paul: assuming we are hearing eu energy ministers calling for measures to monitor gas. >> yesterday, t

. >> the host is a familiar nbc face, none other than keenan thompson.e spoke with him about how he's preparing for the big show. >> for a guy who's been live on saturday nights for almost half his life being live to host the emmy awards is not a stretch. >> this is my no pressure itself, the pressure is not on me. it's on me to open the show and that has to do well but it will be fine. >> is a past any winner himself and appreciates the honor of being ringmaster for tvs biggest night. >> i'm still a fan, this is a big happening. it's every tv show and tv couldn't be bigger than ever right now. >> for thompson mediums importance grew during covid when people were forced to spend more time at home. >> it's a hand holder, it's something we built and should be proud of. that's what the night is about. >> hbo's succession leads the way with 25 emmy nominations including best drama. better call saul and south korea's squid game are also among the drama contenders. for best comedy, ted lasso shoots for its second straight when trying to fend off only murderers

let's get to su keenan. >> we start with u.s. secretary of state antony blinken. he is said to meet friday with the chinese foreign minister on the sidelines of the u.n. general assembly. the meeting comes with the u.s. rallying international support for crane after vladimir putin's military escalation. he said china would maintain an objective and just position on the war. south korea's president has been overheard appearing to insult american lawmakers. this after a brief meeting in new york with president biden. he is heard saying to his foreign minister what an embarrassment for joe biden if these idiots refused to grant it in congress. he said his comments were unofficial and unverified. iranian state tv says at least 17 people have been killed in protest following the death of a woman in police custody. she died after being arrested by the so-called morality police for allegedly breaking dress codes. it has triggered the most widespread unrest in nearly three years. protest have been reported in the capital and dozens of towns and cities. japan will abolish

calls and power is a popular netflix series squid game, which picked up multiple drama rewards hosts. keenan thompson commented on it from favorite characters and yet no taxes. wow. okay. you guys are currently remember. oh, jeff bezos, you la mancha moore, my goal very about am. i to hold skewed game won't be the last non english seat is to be here to be here at the emmys. when he died. it didn't kill real zen die became a to, to him when up at best actress for her depiction of used oil in the hbo drama, euphoria, my greatest wish for, for euphoria, was that it could help her people and eliza from the show, watch help for the big girls took her when, personally, when i was a little girl. all i wanted to see was me in the media. someone fat like me, black like me. beautiful like me when i didn't think i had an idea, i had a chance. other windows included ted lasso, and little white lotus b o. o. and it wasn't just you series that were being ordered as a thermally gave a shout out to an old classic law about monthly altura. ah, hello again. i'm fully battle with the headlines on al jazeera, a

bloomberg's su keenan joins us now. what is the latest?appears to be the biggest victory for ukraine forces succeeded in keeping russia from thinking to kyiv in march. the past few days are being described as some of the most consequential in this now 200-day old conflict, and russia over the weekend published a map showing much of the country's forces out of the kharkiv region. we do not russia confirmed that thousands of russian troops retreated in the face of a lightning ukrainian offensive that has the potential, many are saying, to derail the kremlin's big effort to take control of ukraine's eastern part of the country. this appears to be ukraine's biggest victory yet. ukraine's forces have continued a rapid advance into the kharkiv region. you are looking at some of the abandoned equipment. one commander tweeted out that the russians retreated with such speed that they left half of their equipment behind. according to the ukraine cap commander four "we are starting to advance not only to the south and to the east of the kharkiv areas

su keenan on the energy space. you can follow more on this story and all of the trading on the markets live blog on the bloomberg at mliv . you can get a market rounds down in one click. you can find out what is affecting your investments right now. we are watching the currency space. the chinese yuan getting close to that level at a time when we are seeing the pboc really trying to stabilize. let's bring in our china open anchor, david in glace. the pboc really setting the yuan fixing stronger than expected for what the last 10 sessions were or so. what can you tell us about when we could get to this seven level? david: we could get to that today, absolutely. i say that from a purely mechanical perspective because the midpoint yesterday was 6.9 so we are within that 2% range that allows the exchange rate to move beyond that. do we get to seven today? probably not because that opens up things like herd mentality. is that a big deal? maybe it is not as big of a deal as we talk about, for example. it is a nice co

haidi: bloomberg's su keenan.t, singapore's minister speaks to bloomberg about fighting cancel culture. this is bloomberg. ♪ haidi: singapore is considering a to address cancel culture. single -- singapore's minister of home affairs and law and culture spoke to haslinda amin. i think on the repeal of 337a, we are trying to forge consensus and move forward with some social harmony on an issue that has torn asunder the social fabrics in many countries, the culture wars and so on. today, marriage is defined in law as marriage between a man and a woman. and any debate on that is in parliament, and not dealt with through the courts. haslinda: are you encouraged that perhaps the definition of marriage could be tweaked at some point in time to include two men? >> i have said what the current position is. the current position is that it is between a man and a woman and that is the policy of this government. haslinda: there has been opposition from religious groups concerned about how they may be attacked for the views the

su keenan joins us for more. wti plunging 6% friday?treak of losses so far this year. what gives? su: as you mentioned, the stronger dollar and a confluence of factors that are seeing weaker demand. as we look at how prices are moving now, a lot of red on the screen. just an hour ago, we did see some green, but the stronger dollar is extending the losses from last week. we saw wti closed in new york at the lowest since mid-january. you mentioned four straight weeks of losses, west texas intermediate is now on track for its first quarterly loss in two years. again, this has to do with central banks around the world hiking rates, and investors really worried about economic growth. one industry veteran says, the fears of a hard landing to the u.s. economy and across the global economy are really working their way into the system, and that is where you are seeing the selloff. . in addition to the strong dollar, there are concerns that opec+ may be forced to further cut oil output, they did so for the first time last month. the e.u. ban on r

su keenan joins us to talk about this.ighed in on everything from the economy to crypto to concerns about china. >> it was wide-ranging when i got to the questioning. these are the biggest consumer focused banks. congress was very interested in what they had to say about the u.s. consumer. they had more than five hours of tough questions from the house committee on financial services wednesday here in the u.s.. they will face another round from the congressional committee in the senate on thursday. jamie dimon and jane fraser led the warning on economic risks the consumer with jamie dimon saying the u.s. economy is a classic tale of two cities with competing headwinds and tailwinds that make it very difficult to bricked the future. frazier predicted more difficult times ahead for the consumer. the ceos told lawmakers of efforts they made to help the consumer by eliminating overdraft fees. wells fargo ceo also touted his bank efforts to reduce overdraft fees. his bank came under fire from lawmakers this year after an invest

bloomberg's su keenan joins us with more on this.the lowest close since mid-january, below 79 as we come back above that. this put downward pressure last week. we had west texas down a big way with brent crude also down and gasoline futures taking a big tumble. all of those things on recovery since the first hour of asia trading, but the bigger trend has been the fourth straight week lower for west texas intermediate and it is now set for its worst quarterly loss in two years. this as central bank's or hiking rates around the world and there is concern about recession. some analysts are saying that crude prices are pricing in a steeper session at this point. hard landing for the u.s. economy and a coiffed of the global economy are working its way into the system. you can see that drop off in brent from last friday. that is why you are seeing the selloff. prices are also being pushed lower by the stronger dollar, the concerned that opec+ might cut production outputs once again. and ahead is the eu impose him, that ban on russian oil f

su keenan joins us with the latest. implications of king dollar and we are seeing it in commodities as well. >> the dollar is seen as a safe haven for many investors around the world. you have the fed rate hikes strengthening the dollar, that is bad news for commodities, particularly raw materials and metals, drop in the bloomberg. we see the dramatically illustrated here. raw materials prices, the bloomberg commodity spot index, an eight month low. we saw the dollars served -- dollar surge. copper is standing out, the lowest since july. we spoke on copper because it is often a proxy for global growth since it is used in so much construction and other industrial applications. gold is also extending its decline into the lowest it has been since april 2020. gold is also a safe haven but has fallen in the relentless gain of the dollar. again, copper is also down in the five day chart. it is signaling that the investors are really focusing in on global recession, a global slowdown and that dense demand, even supplies moving

let's go to su keenan.est to surest -- the surest sign yet record bank earnings are coming to an end. su: it certainly looks that way. for the past few years, goldman and banking peers saw record-breaking profits. it was a profit party. now, analysts expect goldman to report a drop in earnings. that says it right there. back in july, goldman planned to slow hiring and reinstate performance reviews. this appeared to foreshadow the job cuts planned for later this year. the cuts according to people close to the matter are a resumption of the culling cycle, where the lowest performers are eliminated. it's a process that was but largely on hold during the pandemic. like it's wall street competitors, goldman has been hit by the dramatic slowdown in investment banking. other banking peers announced they were putting pauses on hiring, there are word of some plans to cut back. it's weight on capital markets and asset management. they posted surging revenue, revenue fell showing a sharp drop, that has been punishing

su keenan is here with the details. tell us more about this scoop from bloomberg. >> this is the first ever budget cut, the first ever talk of reducing headcount since the company was founded in 2004. it is fairly drastic from that viewpoint how this came about according to our bloomberg reporter who broke the story. it was a basic q&a between mark zuckerberg and staff and that's where it came up that there would be a sweeping reorganization. a hiring freeze that goes beyond hiring freeze and it involves leaving departing employees positions open, not filling them and managing out lower performers, employees who are less successful. they also warned employees of much tighter budgets for all teams. mark zuckerberg said at the end of 2023 facebooks parent meta will be a smaller organization. he made several comments to staff that bloomberg got a copy of. he spoke about the economy saying i hope the economy would become more stabilized by now and for more we are seeing, it doesn't seem like it. the company wants to plan co

let's bring in su keenan.not just lockdowns in china, but the technical, the dreaded death cost. that death cost is something a lot of china watchers pay close attention to. we have not seen this since 2020. it means linda 50 day moving average falls below the 200 day average. it is a major selling signal that means lots of short term investment and further selling pressure ahead. that chart vividly demonstrates how the selling pressure really kicked in particularly over the last couple days, mainly in the latest u.s. session. trading in new york saw a close near 82 again. that is a significant drop. also looking at brent crude pressure there as well. one senior energy trader says there is no way to have position and place that's when the market trades with limited liquidity. that is a theme we are starting to hear a lot, limited the quiddity. risk rewards can start there. there is a growing fear that chinese covid zero policy means even lower demand from the biggest consumer of oil. we have a surging dollar,

keenan thompson is the host.elementary could also win some awards because it is up for best actress and comedy. reggie: we are learning more about some of disney's upcoming films and tv shows. the expo napped up in anaheim and we saw stars like christian slater and emmy adams -- amy adams. there is also more about the avatar sequel. we will keep it on christian slater, i guess. kumasi: i want to see all of the things. reggie: let me tell you what really happened. did you see the trailer for the little mermaid? kumasi: i need to watch that. reggie: that is the headline. that's it. kumasi: honestly, people are like it is so good. reggie: it is honestly amazing. kumasi: i will watch that. reggie: know that my favorite parade, magic happens, is coming back to disney and they will have new fireworks in january area -- january. kumasi: lots of other things -- lots of other things, but that is the highlight. kumasi: thank you. reggie: king charles'address to parliament. kumasi: in honoring one of our own who died on 9/1

snl keenan thompson is the host, succession, squid game and ted lasso are expected to have a big nightggie: we are learning more about some of disney's upcoming films and shows. the d 23 expo wrapped up in anaheim over the weekend. we heard from a lot of stars including don cheadle and amy adams. trailers were introduced, including one for the sci-fi series willow. they also teased more about the upcoming avatar sequel. disney is the parent company of abc 7. apple released its ios 16 with new features, just as they debut sales of the new iphone. added features include the ability to personalize your lock screen with customize fonts, layered wallpapers, photo shuffling and more. the live text feature that highlights words from videos and photos has been improved, and this is the biggest thing for a lot of us. you can edit or delete my messages you have sent. all of this comes as the iphone 14 pro and promax go on sale friday. kumasi: we need details. reggie: how much time? kumasi: since you sent it. has the person responded and then you change it? or after you responded is too late? reg

keenan thompson promised to keep the sw moving and drama free and he delivered. suzanne marques, cbs news, los angeles. > >> coming up at 7:00, a dream not for a former dream girl. we will have more as she wows the crowd celebrating a big emmy win living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio. the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause status. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor start an anti-diarrheal and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breat

haidi: bloomberg's su keenan there with the latest. a look at our futures in the european session opening up. we already saw that cash session falling as we saw after three days of gain of inflation in the u.s. topping those expectations, fueling those fears that we will see a more hawkish fed for longer. euro up by 1%. across msci europe. futures also down by just about the same amount. we are releasing a lot of that risk off sentiment, also playing up when it comes to the ftse 100 down by 1% in the future session as well. as we look ahead to that inflation number, that wage supply is really lifting 75 basis point from the bank of england and its next meeting there as well. shery: watch what we can expect from the fomc by 75 basis points, 100 basis points, and that is really having implications for the treasury space. we are seeing a five year yield jumping to the highest since 2008 and topping that peak that we saw in june. the two year yield, also the highest since 2007, and we have seen that deepening burden happening in the new yo

investigators are at work. 2 bodies are being exiled and they are so far, no traces of the mass killing keenan, north of you clean, says this has reclaimed 300 communities home to about 150000 people. but russia still holds large parts of the country. the hasty retreat may signal you clean, struck 1st with the russian defences where we get that, how many others you left by likely in north eastern nuclear they you is planning to drastically change its electricity market to cope with the energy crisis, spots by the war and crying, you're paying commission president, live underlying used her annual address to lay out her plan. so it came as for weeks, you leaders have been mulling over her best to solve the energy crisis. some member states have already announced plans to help their people. now the european commission has followed suit. we are proposing a cap on the revenues of companies that produce electricity at low costs. these companies are making revenues. they never accounted for. they never even dreamt of. and don't get me wrong in our social market economy. profits are okay, they are goo

close impeller is a popular netflix series squid game which picked up multiple drama rewards hosts. keenan thompson commented on it from savory characters. and yet they know taxes. wow. okay. you guys are crazy man. jeff bezos. you laurie morgan law, am. i got everybody down? i food holds kid game won't be the last non english seems to be here to be here at the emmys. when he died, it didn't kill real. xin die became a 2 time winner for best actress. for her depiction of used oil in the hbo drama, euphoria, my greatest wish for, for euphoria, was that it could help heal people. and eliza from the show, watch help for the big girls took her when, personally, when i was a little girl. all i wanted to see was me in the media. someone felt like me, black like me, beautiful like me when i didn't think i had an idea i had a chance. other winners included headlines. so and the white lotus b o. o. and it wasn't just new series that were being honored at a ceremony. gave a shout out to an old classic lord that unmanly antique europe. first, president manuel micron says the country has lost a nation

su keenan joins us, king dollar is not helping. >> almost every major currency has a lot to do with theound decline, many investors view the dollar as a safe haven. it has dropped into the bloomberg. the key gauge of raw material prices shows that it felt to an eight month low. it erased all of the gains from march when russia invaded ukraine and graded concerns about supply disruptions on these raw materials. as i look for metals is pretty dim even though -- the outlook for metals is pretty dim even though supply is low. the concern is the price for many of these metals concerning the price of the dollar. copper slipping to the lowest since july, we are seeing gold in the green. gold has been extending is a declined fall into the lowest since 2020. you can see copper has been viewed as a proxy of global growth. that is a negative right now. back on the gold chart, you can see how it has fallen into a bear market. 20% below its record high back in 2020. we are more likely to be on a roller coaster ride, even though it also tends to do well in recessionary times. the fact you have the ra

keenan thompson is stopping by the "snl" star getting ready to host the emmys he's going to give us aok at the new trailer with mila kunis on its way to netflix we'll get to all that. but first, your local news te cash back in your top eligible spend category. hi. ♪♪ you don't have to keep tabs on rotating categories... this is the only rotating i care about. ... or activate anything to earn. your cash back automatically adjusts for you. can i get a cucumber water? earn 5% cash back that automatically adjusts to your top eligible spend category, up to $500 spent each billing cycle with the citi custom cash℠ card. i love it... [voice vibrating] ever leave your clothes in the dryer and find a wrinkled mess? try downy wrinkle guard fabric softener! wrinkle guard penetrates deep into fibers, leaving clothes so soft, wrinkles don't want to stick around. make mornings smoother with downy wrinkle guard fabric softener. ♪ yeah! yeah! yeah! ♪ real fruit whole grains and chocolatey chunks. doing something good for yourself has never been this delicious. kellogg's special k. why do dermatologist

su keenan is back. >> the u.s. government is cracking down impacting nvidia and amv but not broadcom. it gave not only as strong forecast for global sales but beat third quarter profit estimates handily raising the stock after hours. a big listing on the screen now. the company is reducing fears that spending on internet is slowing. the company saw solid demand in the fourth quarter. continued investment from customers and data centers. it's a very different story from the demand slump from pcs and phones as consumers price in inflation. the semiconductor index has declined. broadcom among the world's biggest tech companies. that makes it a bellwether. that is what makes this particular news welcome. earlier in the u.s. session nvidia took a lot of tears down in the trading session. it warned about exports of artificial intelligence in china could hurt in the range of hundreds of millions of dollars. >> let's look on the fx front. huge dollar strength will drive the fx future across asia today. manishi raychaudhuri

offstage awards small screens big celebration was hosted by keenan thompson.tute on gender and media, girls and superstar appearances included lizzo, who won for watch out for the big girls in competition program added to her grammys. lizzo is now a step closer to an egot and one of many first time winners on tv's biggest night in hollywood. ashley kevork in fox news. morning continues for the late queen elizabeth the second as her coffin will move to buckingham palace today. i'm lauren blanchard in london as preparations continue ahead of her state funeral, and elon musk might not have a choice but to buy a company he doesn't want to buy coming up. we'll tell you about a decision expected today by the shareholders of twitter couldn't make that purchase a step closer to becoming reality. you can have the morning headlines delivered right to you by signing up for the ktvu newsletter just had two ktvu dot com slash email to sign up for com slash email to sign up for that reggie bush had something important taken from him, so wendy's is returning it. it gives me