su keenan, bloomberg, new york. that partnership is a great let's have a what else is coming up today. we will have sweden second-quarter gdp. the consensus is for a drop to a contraction of 1.1% from growth of 0.6%. of course, it is as the policy stance squeezes the economy and more hikes to be to come if there is a further slide in the krona given that inflation is more than three times the target. at 3:00 p.m. we are going to get u.s. jewels data for july. -- joseph data for july. the expectation is for 9.5 -- that quotation is for 9582. at 3:00 p.m. we get u.s. consumer confidence. the latest reading for august and expectation is for a slight deterioration to 116.4 as the summer wanes and inflation stays elevated and mortgage rates have surged. for me, one of the most interesting point apollo made at jackson hole was that he thinks the phillips curve might have steven. he said there is evidence that inflation has become more responsive to labor market tightness than was the case in recent decades. if you apply t

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su keenan joins us with more on the stories.'s start with goldman. >> this is clearly a continuation of a move for goldman to distance itself from a that into consumer banking. this was the first big signature deal of david solomon so it is noteworthy. the deal to buy united capital, goldman now saying we are evaluating alternatives for that business as we determine where to invest our resources and where we see the greatest opportunity. it is symbolized the earlier effort to expand business lines. the purchase of united gave goldman an instant footprint into the mass affluent market. at the time of the deal united had 220 advisors. it is now at $29 billion which shows you did not grow that much. there has been a lot of internal discontent within goldman because of what is going on. a lot of moves to unwind these initial moves by david solomon to expand goldman. there are many who say goldman should stick to what it does best, which is handling money for the rich. goldman sachs down a bit in the latest session. shery: let's turn

sue keenan joins us with more.. >> this is a key pathway, for oil and other commodities such as rain leaving russia. let's delve deeper into it. oil holding gains even as ukraine attacked another russian vessel over the weekend. there is concern this poinsettia risk significant flow of oil and grains out of moscow. the drone hit a vessel that supplies grain. it could threaten russia's commodity exports in this route which accounts for 15% to 20% of oil sold daily on russian markets. crude oil and brent crude both up in a big way. let's talk about west texas intermediate near $83 after rising 4% over the past two sessions, up for the sixth straight week as of friday, the longest winning streak since june 2022. that has a lot to do with the fact that pe -- opec has been cutting oil and saudi arabia not only taking oil off the market course -- but simultaneously charging more to its customers. it is raising prices for its flagship product for sale to asia by $.30 per barrel, that is above the benchmark. according to a

paul: bloomberg su keenan there. on asian markets this tuesday morning in the asia-pacific. the nikkei leading the way. up by 8/10 of 1% right now. we do have those blowout gdp numbers out of japan for the second quarter a short time ago. 6%, we were expecting a little less than 3%. more than double what the market was anticipating. the topics up by one point 5%. modest gains in australia. on trading in south korea. markets are closed for public holiday. still to come, standard chartered bankshares their outlooks on chinese economy ahead of jill activity data. we will preview those numbers next. this is bloomberg. ♪ (jennifer) the reason why golo customers have such long term success is because we focus on real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement makes losing weight easy. release sets you up for successful weight loss

bloomberg's su keenan joins us with the latest.'t necessarily see that price rally in the new york session. a little bit of a rebound in asia right now. >> if you take the data for face value, it is a huge draw down. a record for u.s. declines in stockpiles. some traders are indicating the latest government data has had subsequent revisions, so they relied instead on the july monthly data, less subject to revisions and more reliable. what you are seeing in asia trading is a bit of a rebound because oil was actually down a few ticks in the u.s. session. no rally whatsoever, on stunningly bullish data. 17 male that included the -- 17 million included the cushing hub in oklahoma. is it a sign of a tightening market or is there skepticism on the data? a lot of that will probably come out in subsequent revisions. one analyst tells us these draws are undeniably huge, but traders are looking at the seasonality, they say going forward, we will lose momentum here, and the macro risk trade is starting to rear its head. there is concern that

su keenan joins us now, further signs of goldman's retreat from retail. >> much has been written andd about the ill-fated foray, and this is a sign of the bank retrenching, goldman striking a deal to sell the investment advisory business that stemmed from its purchase of united capital. they are selling it to a wealth management firm. the uploading comes just four years after goldman acquired it and signals they are moving away from consumer banking and back towards servicing money of the uber rich. again, this was a purchase and 2019 to reach the affluent market that was ancillary to consumer moves, this was the millionaire next door. it was sort of rich people, goldman did not reveal the price of the sale but expects to reorganize a gain in sharp contrast to the other sale on the way, we are told divestment of an installment lender is being sold at a steep discount that underscores the retrenchment underway. haidi: what is creative planning getting from this? >> more assets under management, the expansion of an already existing relationship with goldman. several of these books were

haidi: su keenan.e a look at the day ahead for australia and new zealand and the governor is set to speak later on. central banks and climate change. watching the imf saying new zealand central banks should consider raising interest rates if the government fails to cut spending as planned. chevron's lng plants in australia could begin next week, unions giving notice of industrial action if the company cannot reach an agreement with workers. we will have more on the story as well as implications for market pricing in a few minutes. more to come, this is bloomberg. ♪ all of the work that we're doing, all over the world, and looks at the most effective ways, to get resources to them, to get services to them. the idea that we have saved five million people's lives, it's overwhelming. it's everything. ♪ haidi: possible strike action is threatening volatility and chevron workers in australia are given notice to stop work if paying conditions can't be reached. sign of relief with the would sign it deal but th

su keenan as the details.is pretty astronomical, but analysts are saying it could be larger. >> there are more than 300,000 lawsuits that involve these defective military earplugs sold to the u.s. military. according to lawsuits, the defects range over a 12 year period, and netlist were saying the liability could range from $8 million up to $9.5 billion. it sounds like 3m negotiated a pretty good deal for themselves given this litigation has been weighing on the company for the better part of the decade. according to our source, a tentative settlement is, again, an attempt to resolve the 300,000 plus cases out there. it is effectively half of the amount estimates were saying they could have had to pay, and they have already seen it most of the cases tens of 16 that have gone to trial so far, 3m has lost, and they paid out a fairly decent amount of money for that. in fact, in one of the lawsuits, the most recent trial, a florida jury in 2022 had 3m pay $7.5 million for a serviceman that tested weapons as part o

su keenan has the latest.extra compliance being brought in at the same time they are cutting bankers. su: yes. the most important thing to understand is it is not good the had the fed in your business and looking at your industry, and that is apparently what is happening at goldman sachs. for the past year, we have been hearing there has been heightened regulatory scrutiny, and now sources are telling us hundreds of new staffers are being brought on board specifically to address concerns from regulatory authorities, including the federal reserve. this is coming even as it has been cutting executives from the moneymaking ranks due to a slump in the business. bloomberg news shows there are more openings for compliance staff at goldman sachs and bankers, and while it is not unusual to have questions from investigators, there has been growing pressure from the fed described over the past year, a situation not ideal for any bank because banking supervisors can impose increasingly formal and potentially onerous meas

haidi: bloomberg's su keenan there. you can get a roundup of the stories you need to know to get your day going on today's addition of "daybreak." bloomberg subscribers can go to dayb . you can also customize the settings as well for the news on the industries and assets that matter to you. this is bloomberg. ♪ reported taking healthier actions. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. let innovation refunds help with your erc tax refund so you can improve your business however you see fit. rosie used part of her refund to build an outdoor patio. clink! dr. marshall used part of his refund to give his practice a facelift. emily used part of her refund to buy... i run a wax museum. let innovation refunds help you get started on your erc tax refund. stop waiting. go to innovationrefunds.com you really got the brows. haidi: japanese online lender at record time says it is well-positioned to enjoy a profit

haidi: bloomberg su keenan.another commodities story in european, gas prices easing that a deal has been reached between woodside and workers between western australia. there is still a threat of strikes at chevron facilities. here are the details. we had some hints that they deal mayhap been well received. what do we know? quakes the threat of strike action has been redrawn. that's a very good start and word to be put back in place it when a happen until september. it has really receded and union spokesperson making very encouraging sounds, calling the steel industry standard and that it reaches their key outcomes. in terms of the details, you want to be an oil worker, they are pretty good, base salary of 200 thousand on a flight in, fly out contract. 105,000's per year on top from offshore. 14% annual asian. total pay package could be 360 a australian. that's about 230 6000 u.s.. just announcing a rise in first-half profit is well up to $2.7 billion. so, plenty of money in the lng sector at the moment. this de

su keenan the latest.t. >> is the undoing of a major strategy that had a lot to do with ceo david goldman's desire to push into the mass-market. the deal to buy united capital back in 2019. now goldman says we are currently evaluating alternatives for that business as we determine where to invest our resources and where we see the greatest opportunity. while the unit has a small part of the offering, it symbolizes the earlier efforts by solomon to expand the firm's business lines which are now being unwound pretty much. the purpose of united gave goldman an instant footprint into the mass affluent market. at the time, united had 220 advisors. it did not grow much. you are looking at the blue, goldman stock has clearly risen significantly under solomon's leadership but no -- but many other financial outlets have talked about the internal discontent. a lot of it has to do with the foray solomon took the bank into to retail banking that did not work out. there are many who believe goldman should stick to what

su keenan has the latest on this.ow much of a game changer will this be or is this a move towards crypto becoming more mainstream? >> if you talk to the crypto universe they will say this is a monumental decision. many observers say it is a stinging defeat, if not rebuke for the sec's gary gensler who after two years of lawsuits had crypto reeling. this is the second after two major setbacks that are but a sweep of products at the safe and it was grayscale appealing the rejection of the sec application for spot bitcoin etf. the decision says the sec's denial of the proposal was arbitrary and capricious because the commission failed to explain its different treatment of similar products. gensler has justified the stands saying that the agency has taken it to protect investors to protect the interest rate from front and the sec has approved futures etf but rejected grayscale's spot bitcoin etf, they just did not see the logic. there was an immediate response from grayscale which posted a response on x, formerly known as

bloomberg's keenan joins us now with more on this. and sue, this is an oil company that warren buffett has a stake in. yeah, warren buffett has been a big fan of oxy and particularly its leadership by ceo vicki hollub. and he's been buying shares throughout 2023. so that adds extra attention to this story. but oxy buying canadian carbon capture startup carbon engineering is also a big story because they want to expand their leadership position in removing carbon dioxide directly from the atmosphere. as mentioned, this is a 1.1 billion all cash deal expected to close by the end of the year. now, the two companies have been working together in partnership for the past four years on oxy west texas stratus project that's set to be the world's largest direct air capture plant by 2025. dac is the buzz word and it is the way it's described. and what it really means is pulling carbon dioxide directly out of the atmosphere. and my colleague kevin crowley in houston says it's kind of like oxy is now jumping ahead to carbon capture 2.0, where ma

i also want to welcome nebraska governor jim pillen governor, secretary of state bob keenan and representative who represent the that all nebraskans have for the katherine's legacy. finally, i want to recognize the talented littleton foster the who created katherine statue. not only is he the african-american artist to have a sculpture in the he grew up just a few blocks from the capitol well. we grateful that all of you here to join us to unveil this new and celebrate it in the people's house. so let's begin. ladies and gentlemen, please stand for the presentation of the colors by the united states police ceremonial unit, the singing of our national anthem by vocalists from the united states army chorus and the retiring of the colors. for. or. ladies and gentlemen, please remain for the invocation delivered by dr.. margaret kimmitt, chaplain of, the united states house of representatives. would you pray with me. oh, my god. the author of lives. we pause to you. thanks for imbuing your creative on the celebrated nebraskan author willa seibert. accept our profound gratitude for endowing ms.. ca

this is a freeze and concrete, which is mid summit is the climate keenan launch. the was possible for the statistic construction sites here in the office already use as much submit as in europe. i'm not upward trend looks it to continue. so it is high time to soft recycling. this building materials a few funds in germany, a doing just by of the gemini, creates 280000000 tons of concrete waste every year. that's at least this rebel will soon be re purpose into new concrete company. southern and gemini, specializes in recycling, building materials, a crushing machine tons the concrete pieces into small, grand new rules which is sorted by signs the grand new role. so then sold to cement manufacturers, which i know on side processing can save millions of truck kilometers on the edge funds used to produce concrete use. usually doug from knowledge pains, then transported hundreds of kilometer has the same is true for gravel. the 2nd component in concrete, sand and gravel of the coming skills. as this construction recycling plants, old red roofing tiles that rule so used

george keenan, the author of the containment theory, said we cannot change the russian communist party, so we need to contain them. our approach to china was exactly the opposite. we naively assumed that if they became part of the wto and opened themselves up to u.s. investment in china, if we educated new generations of chinese students that somehow they would become like us. to me, the contrast is just striking. i think we need to throw off some of the naivete when it comes to dealing with some of the countries like russia and china. >> senator coons, let me start with you on china. you are concerned about taiwan's own ability to defend itself. xi jinping -- do not do this piecemeal, go in big. how confident are you that taiwan has defenses that it needs. are there things congress can do in supplies and training? sen. coons: i am not confident right now if there is a willingness by xi jinping to go all in and that we would be able to successfully partner with the taiwanese and our regional partners to defund them. there are lessons we can and have learned from ukraine and ukrainian d

su keenan joins us. grayscale victory not enough to help the flight. >> call it traders being away on vacation. but bitcoin has been stuck in a tight trading range. while we saw a strong rally on tuesday in the united states, bitcoin went up as much as 6%, it has pulled back. what we are seeing is a return to the tight range. in the chart, a steep drop in august where the coin felt be to -- below 26,000. the brief rally from the ruling really not a game changer for the direction of bitcoin. there are many that believe the grayscale decision, where grayscale saw a spot bitcoin etf has definitely made a big difference. what we are seeing here is a different chart. what we are seeing with grayscale is, many think a game changer in that what will happen is the court ruled the sec's decision was capricious and arbitrary and it cannot hold. the whole rejection that we have seen from the sec for two straight years they had the coin back on its heels and this has caused the problem because it has prevented bitco

paul: bloomberg's su keenan there.ght austrian lithium stocks at the start of the year and could doubled their money, or lost more than half of it. shares from some of the most volatile returns on the asx 200 index. james, a bit of a freak willing stage for the lithium boom at a moment. what are the factors that are driving this? >> the key driving factor is the transition to going electric. for that, we need lithium. it was a niche market but it is now becoming something quite different. the miners going out looking for lithium deposits, the results will be published and investors will just pile in. not quite understanding the true value of the results. that expands why in some cases there are fantastic results and in some cases, not so great. shery: so what should we be looking out for when it comes to separating the losers and the winners in australia's lithium race? >> investors tell me, he gets quite technical, but basically you want to find a really fantastic deposit, and it needs to be close to the surface and i

su keenan there in new york.aving a look at some other earnings stories, china evergrande's property management unit plunging by a record. resumed trading for the first time since march of last year. the resumption coming after they met regulatory requirements for releasing the delayed results. pending the trading halt will perhaps help redditors gauge the merits for them to swap debt for equity. budweiser apac shares suffering from a hangover, pardon the pun, after net income for the second court are missed the estimate. net revenue just below $2 billion was nearly below forecast, despite -- budweiser seeing a strong recovery of volumes in china, and of course that is where record-breaking heat waves have been helping to drive demand. ok, well, we have a lot more including a market check. a down day generally for the region. this is bloomberg. ♪ good night! hey corporate types. would you stop calling each other rock stars? you're a rock star. you are a rock star. no more calling co-workers rock stars. look, it's

su keenan joins us now with the latest.coming on board when we actually see bankers leaving the firm. su: that gives you an idea of how important compliances right now for goldman. the most important thing to understand according to my colleague is that it's never good to have the fed in the building and definitely not good to have the fed in your business. that's what's been happening at goldman sachs. our correspondent broke the story and sources that goldman have been telling us for a while there's been a hike into reglet tory scrutiny. now according to these sources, several hundred news factors are being brought on board specifically to help address concerns for regulatory authorities that include the fed. and this is coming as the firm is cutting execs because of the slump in business. bloomberg reporting also shows there are now more openings for compliance staff and there are for bankers. while it's not unusual for large banking firms to face routine questions from regulators, goldman execs privately described that

lou burke su keenan joins us now with the latest.on musk's top lieutenants is under scrutiny? su: a key lieutenant is the focus of the request for information that we are hearing is now coming from the u.s. prosecutors in the form of various subpoenas. the focus is on the key lieutenant in the individual at the center of an internal tesla probe into these issues that begin earlier last year. sources tell us that subpoenas were sent to current and former tesla employees in recent weeks and the focus appears to be on a 2022 purchasing order for a special and unusual kind of glass. in fact, it was flagged internally by tesla's auditing and became an internal focus. and now, we are told, wall street journal reporting for us, not only the department of justice but the sec is investigating this secret glasshouse project, which wall street journal sources say was known as project 42. the glasshouse is reported to be scheduled to be will near austin and the question was this a glasshouse that was being built for elon musk. there are board me

su keenan joins us. york session, we are actually down. >> you have to ask, if you take the data at its face value, a drawdown which might indicate tightening of the market, or it might indicate this is a wild swing in the data that may be subject to revision. you are seeing red on the screen in asian trading, but you had oil lower in the u.s. session. stockpiles sell by a record 17 million. the drawdown was in the oklahoma hub that impacts price. we have oil sitting at the lowest since january. the massive number failed to induce a price rally which has to do with the fact traders focused on the monthly figures for july they say will aligned with expectations. traders talk about the adjustment factor or margin of error. the drawdowns are undeniably huge, but generally we lose seasonal momentum. the macro risk rate is rearing its ugly head, the market is not buying a lot of. -- a lot of crude. you have a lot of currency issues, the strong dollar putting pressure on brent crude and other commodities. crud

shery: su keenan, with the latest on the energy sector.tick with china demand and bring in annabelle. you are also watching the outlook for metals. >> that's right. let's kick off with iron ore here. that key ingredient for steel. essentially construction accounts for about 40% of that demand for iron ore in the country. the bets on stimulus that have come through from china, we were waiting for some sort of concrete measures to boost the economy. that's been one of the key factors that's helped iron ore to stick above the $100 level /ton for a part of this year. concerns are starting to w eigh on the outlook for the middle, assessing where prices go from here. they are saying china mills, they are really cautious about restocking given the outlook. the property sector is the he focus here given the deteriorating outlook. property is a key part of that. paul: how about the other base metals? >> watching things like copper, aluminum, other key ones to watch, they have retreated from january highs with the economy losing same in china. that'

bloomberg's su keenan the details. these are astrological numbers -- astronomical numbers. have actually been larger. sue: much larger these are 300,000 or more lawsuits that have been brought over the past decade and analysts such as barclays estimate there could be an $8 billion liability. other analysts have said the liability could be up to 9.5 billion. to paraphrase one expert in the product liability case says it sounds like 3m negotiated a pretty good deal for themselves. u.s. servicemen have alleged in these lawsuits that 3m knew its earplugs, which it sold to the u.s. military, or too short to work effectively that it failed to warn the government or its users or take steps to use it. the source is telling us that there is now a tentative packed that would resolve all of the 300,000 plus lawsuits which a district court has consolidated into one case. it would also cut the liability almost in half in terms of the roughly more than 5.5 billion settlement number and it would be a good decision for 3m. according to the sources, it now has to take to the board to approv

david: su keenan in new york for us.markets that is where your bond market story is today. treasuries are a bit higher on the 10 year. in our global benchmark on bonds, it has basically dropped every single day with the exception of about four or five days, for the last six weeks or so. the pain continues in this large part of the global financial market. more ahead. plus the open in thailand which is very much in focus. and india, don't forget. this is bloomberg. good morning. ♪ i need it cool at night. you trying to ice me out of the bed? baby, only on game nights. you know you are retired right? am i? ya! save 50% on the sleep number limited edition smart bed. plus, free home delivery when you add a base. shop now only at sleep number. yvonne: almost 11 a.m. in singapore and shanghai. welcome to bloomberg markets: asia. i am yvonne man with rishaad salamat it. rishaad: asian stocks rebounding today. tech and financial leading that. the pboc ramping up support for the yuan with another record high fixed. japan's 10-yea

su keenan is joining us.on track for, i don't know if everyone was factoring than in. all of a sudden that is what everyone is look yet. -- is looking at. su a lot of things are coming together saying: those who were delving opec was going to try to bolster the market by all of the extra supply cuts were wrong to they could not do it because the price of oil is definitely higher and now opec itself is coming out saying we are going to cat million dollar dashed going to cat million dollar barrel day -- this month and into the next. it has had the impact opec says of causing oil production from the opec plus allies as a group tumbling this month. the saudi's are starting to see the effect take hold. they also say production could average the current rate of 27.3 million barrels a day for the whole quarter. that is more than a two and a quarter million barrels of oil west. haidi:haidi: the big question, where do we go from here? su: it is a big question because kathleen mentioned technical barriers. let's drop q

with a new supervision program for banks, su keenan joins us with the latest. >> some might ask why thedn't the sec and other entities be more in the forefront? who have to member that a lot of the banks had to do with the lender affiliation and clients who were or related to crypto firms. this is about heightened scrutiny over this kind of activity. the issued guidelines of crypto, how banks can be involved in this. the program will oversee activities involving digital assets and blockchain tech by lenders overseas. they will also focus on partnerships with firms that are not lenders like fintech company's. the fed, afghan see, office of control over the currency all detailed concerns digital assets and the time said is important that risk that can't be controlled the allowed to migrate to banks. some crypto supporters have been saying all of this regulation soup has been hostile to the crypto industry but the fed said tuesday their goal is to provide oversight for the banks activities. they also said charter banks must also get the fed signoff before issuing holding or transacting in

su keenan joins us with more on this, what are we saying in terms of china?e biggest importer of oil, the has major impact on his demand and on the price of oil out of the latest thing we are hearing from analysts is that economic woes are not doing much to help boost demand beyond what we have already seen an analyst commentary says china's appetite for fuels and other oil drug products means have already peaked for the year. many are revising their outlook while headline numbers for crude imports .2 of us will demand from china and the has been stockpiled or stored rather than turn into gas and diesel related products. stockpiles are risen to a record high. the economic recovery continues to show strength and there is not much room for growth left in the second half. analysts expect blue demand growth will slow to 1.1 million barrels a day over the second half of the year, that compares with 1.3 million barrels in the first half and another analyst with energy aspects says it is likely that china's will demand peaked in the second quarter. will moving back

we are joined by su keenan and paul allen. i want to start with you.ongoing concern but it has heated up at a time when oil prices are important in many ways including to inflation and all the rest of it. >> heating up because of what's going on in ukraine. you drop it in the bloomberg and what we see is west texas jumping to the highest in nine months before trading just a bit in asian trading. a lot of this has to do about concerned that the possible escalation of the conflict could choke off more supplies in an already tightening market. what we saw was west texas rising above 84 before pulling back just a bit and that increases bites the latest u.s. inventory data which showed an increase in inventories which would normally be bearish but investors chose instead to focus on the decrease, the following crude products which fell the most in three months. analysts say it's the market tightness narrative. conditions and the black sea are adding to that. the latest threat to supplies is the risk to russia flows from the black sea from various attacks. w

. -- su keenan has the details. it is never good to have the fed in your building and not in your business. sources say that is what is happening to goldman sachs. people close to the matter tell bloomberg several new staffers are being brought on board to address concerns from regulatory authorities including the federal reserve. this hiring binge is coming as the firm is cutting executives from the moneymaking ranks due to a slump in business. bloomberg reporting shows there are more openings at goldman for compliance staff than bankers. it is not unusual to face questions from regulators, but there is growing pressure from the fed over the past year. this is a situation not ideal for banks because supervisors can impose potentially onerous measures. one source tells bloomberg goldman is dealing with a confidential measure imposed by the fed that predates the current increase in scrutiny. while david solomon has been under a lot of pressure, including discontent at his bank, he has shared with colleagues that he b

bloomberg sue keenan following this story.ing us now and the unexpected rate cut overnight because they just look like everyone thought they weren't going to cut the rates. they were going to do these little targeted fiscal steps, boom. and that, again, a lot of people heard this and reacted. and yeah, it's just one more layering on of surprise factors because the chinese demand they are the largest importers of oil in the world. that has been a key factor in the bull case for oil. and now it appears to be deteriorating. the concerns about china demand are offsetting the tight market supplies we're seeing and an asia trading were pretty much unchanged from the pullback we saw to a two week low as mentioned in the us session. also seeing a pullback in brant crude. now the oil markets are suffering from economic global concerns and one ubs analyst points out that china's economic data continues to disappoint. while in the us we've got data like retail sales that came in stronger than expected and that is creating concern. the fe

we are joined by su keenan. over $84 a barrel is a nine-year high -- nine-month high?g a pullback in asian trading but it is still above $84. this has very much to do with the fact we are already in a tightening oil market, and we are seeing increased hostilities between ukraine and russia. there is concern you could have a blockage of oil out of that region. oil is on a move higher 3% in the past three sessions. let's talk about the inventory data in the u.s.. even though it was slightly bearish, we saw it build in u.s. stockpiles. the market is focused on the decline in the fuel products coming, those fell the most in three months. architect misses the narrative, and if you consider one analyst says west texas has broken above the post opec high made in april. the people who have been bearish are skeptical of the opec effort. the people who have been bearish about opec to tighten the market and boost price have been proven wrong. opec-plus will release a report later this week that shows a snapshot of how high the oil market is, but if you look at the contracts of th

rishaad: su keenan for us in new york. goldman sachs has promoted its research chief.e on monday. he has no plans to take on another job. the position will remain vacant for now. he rose to fame after correctly predicting the china driven boom of the 2000's. a change at tesla, cfo zachary kirkhorn stepping down after 13 years. he was considered a top contender to succeed elon musk as ceo. kirkhorn will continue to serve in an unspecified capacity through the end of the year. tesla is the largest contributor to ark. cathie wood telling us she will miss kirkhorn about presence. >> it is a tough job. i guess 13 years was a really good run for him. i cannot say enough good things about him and what he did for tesla. i think he train his successor well. rishaad: this is what markets look like. we're off for a break. ♪ 76% of 23andme health customers surveyed reported taking healthier actions. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. he snores like an angry rhi

let's bring in su keenan.t we are seeing in asia is a follow-through to what happened in the u.s., a move up in crypto stocks. >> crypto supporters are saying it is a monumental change in the stance and it is viewed as a defeat for s.e.c.'s gary gensler who has come down with fines, enforcement and lawsuits and really put crypto back on its heels. the ecosystem has been reeling. but this is the second of two major legal setbacks and cracks open the door for projects, products the sec had said were unsafe. it is about grayscale challenge in the sec's rejection of its spot etf. here is what the three-judge panel said. they said it was arbitrary and capricious because the commission failed to explain its different treatment of similar products. we also had a response from grayscale. they proclaimed victory and thanked supporters, saying it is a monumental step for investors and the crypto ecosystem. crypto went on a spectacular rally, with bitcoin surging as much as 7.7%, to reach the highest price since august 1

. >> the questions, su keenan bringing us that. plenty more to come on daybreak asia.s is bloomberg. ♪ so... i know you and george were struggling with the possibility of having to move. how's that going? we found a way to make bathing safer with a kohler walk-in bath. a kohler walk-in bath provides a secure, spa-like bathing experience in the comfort of your own home. a kohler walk-in bath has one of the lowest step-ins of any walk-in bath for easy entry and exit. it features textured surfaces, convenient handrails for more stability, and a wide door for easier mobility. kohler® walk-in baths include two hydrotherapies— whirlpool jets and our patented bubblemassage™ to help soothe sore muscles in your feet, legs, and back. a kohler-certified installer will install everything quickly and conveniently in as little as a day. they made us feel completely comfortable in our home. and, yes, it's affordable. i wish we would have looked into it sooner. think i might look into one myself. stay in the home and life you've built for years to come. call... and take advantage of o

su keenan is with us from new york.es are telling us some of the major pe giants are in the mix for this transaction. su: this is part of goldman's effort to unwind the ill-fated foray into consumer banking and my getting. it is banking services to the masses. this is the consumer lending unit. it has been trying to sell it and has repeated -- before reportedly selling it at a discount. now, sources telling us that groups featuring apollo, pug i, and 6th street are said to be entering bids among early september. they also learned that their bidding partners where major players bid apollo has been partnering with blackstone on a proposal. some say 6th street is working with a number of parties on a deal. and pagaya is cooperating with general atlantic, another big pe player. there are a number of options that golden -- goldman might pursue. and they might retain some of the loans, so these are some of the options we are talking about that are being talked about, according to the sources, and some major players, very inte

keenan whitworth has the story. good morning, kayla. >> george good morning. now, authorities haven't said yet if they're investigating this as a hate crime, but leaders in the area say she was a fierce advocate for the lgbtq plus community. the governor calling her murder absolutely horrific. this morning, a small california community devastated after a local woman was shot and killed over what authorities believe was a dispute over a pride flag. >> gunshots, victim. medic. ambulance 91. medic engine 92 phased out of area for law enforcement. >> 66 year old laura anne carlton shot and killed friday outside the clothing store she owns near lake arrowhead. law enforcement says the suspect made several disparaging remarks about a rainbow flag that stood outside the store. the armed suspect, who has not been identified then fled on foot when authorities confronted him a few miles away. he was armed with a handgun. a lethal force encounter occurred and the suspect was pronounced dead at the scene. carlton, known as lori by her friends, was an advocate of the lgbtq