i'm lisa mateo. this is bloomberg. ♪ >> what is playing out in yen right now is so reminiscent of what happened in september 1992 this bank of england and the pound. the bank of japan's fantasy that they can keep a lid on 10 year jgb's at 25 basis points, the currency market is laughing at that. jonathan: chris verrone was laughing at that, too. good morning. futures look like this on the s&p, on the nasdaq, too, up by more than 2% on the s&p 500. this from the equity team at jp morgan. "energy remains our highest conviction overweight sector with earnings growth and multiple rerating -- multiple reratings still." tom: it is fascinating. this is a recapitulation of their outstanding 100 page opus of about a week and a half ago. christyan malek writing it up. what to me is fascinating is a completely reset with an $80 benchmark was everything geared higher, and they say the energy sector, and they walk through four or five or six metrics. jonathan: on the year this year, that sector on the s&p 500 up

i'm lisa mateo.his is bloomberg. jonathan: i live from new york city, good morning on tv and radio. the nasdaq 100 positive by one third of 1%. the s&p up .5%. yields higher by three basis points on the 10 year. the german bond market does not participate. euro-dollar, 1.0583. look at these numbers coming out of germany. the government cuts the forecast from 3.6% to 2.6%. here is the inflation glide path over the next 18 months payment 6.1 inflation in 2022. 2.8% in 2023. tom: how do you get there? the gdp is back to what we will call german normal, fine. inflation plunges 6.1. i get it, politically, socially a challenge. then what is the number after that? jonathan: 2.8 in 23. all of this is dependent on the war in ukrainian gas supplies from russia. we are hearing from ursula von der leyen saying the russian gas cap was not a surprise. paulette and bulgaria are now getting their gas from eu neighbors. our response will be immediate and coordinated. the kremlin is using fossil fuels to try and black

. ♪ lisa: keeping you up to date with news from around the world, i'm lisa mateo.'s get to first word news. president biden has broad support from congress for a massive $33 billion ukraine aid package. lawmakers could finish work by may 9, but if democrats assist on attaching funding for coronavirus vaccinations and treatments to the package, action could be delayed indefinitely. officials in china are defending the covid zero strategy as the best way to fight the pandemic. they say the outbreak is coming under control with cases in shanghai showing signs of turning around. the lockdowns have been criticized for existing -- exacting heavy social costs. potential money laundering case at deutsche bank. the prosecutor's office says it relates to trades made by the bank. cathie wood's ark innovation fund is heading for its worst month. the etf is down 26%. the fund has declined almost 70% from its all-time high last year. key holdings like zoom and teladoc tumbled from there pandemic records. the fracking boom is turning texas into the earthquake capital of the u.s.

i'm lisa mateo. this is bloomberg. >> the boj may be rolling the dice with the universe, but what they may be hoping is that they can get the yen weak quick enough, and release the constraints they have so that they can finally tame domestic core inflation in line with their inflation objectives. jonathan: that hope may well not materialized. dollar-yen, 130 point 86. elsewhere, yields higher by a couple of basis points. collet three on the 10 year. on the nasdaq, up by 1.38%. a little later we will get numbers from apple and amazon. when you look at the automakers, ford numbers decent as well. tom: we continue that conversation on detroit autos with john lawler, cfo of ford motor, who has tattooed on his brain that you need to be in a ford f1 50 pickup truck to go down to des moines, iowa. can you sell a new $90,000 fully loaded electric pickup truck on the east and west coasts of this nation? john: absolutely. in fact, our early reservations of orders are highly skewed towards california and the ea

i am lisa mateo. this is bloomberg. ♪ pres.iden: today i am authorizing the release of one million barrels a day for the next months from the strategic petroleum reserve. this is a wartime bridge to increase oil surprised until production ramps up later this year. jonathan: the president of the united states on latest effort to do something about gas prices. that was worth a move of 6% to 7% on crude yesterday. this is how we are shaping up this morning on wti, $100.41. yields higher six basis points. look out, euro-dollar. 1.1053. this on twitter -- "only three things are certain, death, taxes, and the ecb not having a clue." tom: could you see jeff currie tearing to shreds the spr theory? he says it has not worked before, why would it work now? jonathan: it is bigger now. tom: fine. great micro economist from chicago said it is silly. jonathan: that is their argument, not mine. tom: let's get to it will stop maria tadeo in budapest for an important election but first emily wilkins in washington. what does day two of this spr

lisa: good saturday morning to you. you can see the fog here in the distance. it will be a breezy afternoon from marin to san mateoary -- vanessa bay teams up with molly shannon for a new show. the inside scoop coming up next in "binge this." come in for snack time, leave more fulfilled. because when you shop at target, you leave with what you value most. like healthy foods for your family and brands that lift our communities. at target, the things that matter are always within reach. what we value most, shouldn't cost more. [ music ends ] ♪ it wasn't me by shaggy ♪ you're never responsible for unauthorized purchases on your discover card. (jackie) i've made progress with my mental health. so when i started having unintentional body movements called tardive dyskinesia... i ignored them. but when the twitching and jerking in my face and hands affected my day to day... i finally had to say, 'it's not ok.' it was time to talk to my doctor about austedo. she said that austedo helps reduce td movements in adults... while i continue with most of my mental health medications. (vo) austedo can cause depression, suicidal t

lisa: we have a cooler day. we have some winds that will be picking up along the shoreline. low 60's in the city. upper 60's, a cool down for you in san mateolouds in napa. 72 in livermore. the accuweather 7 day forecast, partly cloudy tomorrow. a system may brush northern sonoma county with a few showers. i should say sprinkles. it is all about the heat. all about the rest -- all of the rest of the week, above average. we cool off into the next weekend. liz: thank you and thank you for joining us on abc seven mornings. i am liz kreutz. we are off early because of the nba sunday showcase. next at 9:30, nba countdown gets you ready for today's doubleheader. at 10:00, the dallas mavericks take on the milwaukee bucks at pfizer forum. at 12:30, the denver nuggets take on the l.a. lakers at crypto.com arena. we will give you the update on the shooting at abc 7.com as well. thanks again. have a great day. ♪ large out-of-state corporations have set their sights on california. they've written a ballot proposal to allow online sports betting. they tell us it will fund programs for the homeless, but read the fine print. 90% of the profits go to out-o

mateo bridge. moving pretty nicely. there is a high wind advisory in effect today, so something to keep in mind as you head out. lisa's at the coast. upper 70's inland. julian: if you are streaming on the abc 7 bay area app, abc 7 on seven continues. ♪ ♪ [ bird chirps ] springfest is back! [ sprinkler & birds chirping ] these are the mowers i was telling you about. and right now, you'l find everythig your lawn and home needs this season. [ food sizzling and happy family chatter ] at great prices for the season. stop by lowe's now, for your happiest spring. >>> good morning, america. it's 8:00 a.m. breaking news. an american fighting alongside ukrainian troops now a casualty of war as russia escalates attacks on kyiv. president biden now asks congress for an additional $33 billion in aid as russia accuses the u.s. of waging a proxy war. >>> rental scam warning. in this red hot housing market a rise in online listings that aren't real or available. this woman duped out of nearly a thousand dollars. the red flags to watch out for. >>> the great she-cession? with millions of women leaving their jobs. how it's reshaping

mateo bridge. we have a wind advisory issued here and also to car crashes. you approach foster city, which is why you see it slow there on the right hand side. hi, lisa. he spit hills camera from balmer peak 48 mountain view. we are 50 in san francisco as well as half moon bay, 53 san jose, so no wind yet , but lots of sun from the golden gate bridge. marine county warming up today across the bay will see temperatures around 70 over in oakland, but a cool start by the delta. at 45. so mid seventies for our warmup inland, but the heat arrives tomorrow. thank you, lisa. coming up on g m a new look at the impact that tiktok could be having on (music throughout) hi, i'm mike holmes. i'm here with ivan from agm renovations america's kitchen and bathroom renovators i'm excited to introduce agm's 3d creator. it allows you to create your new kitchen or bathroom online, and get an exact quote in minutes. [ivan] that's right mike! design your kitchen or bathroom in 3d, choose your fixtures and finishes, without leaving your home or inviting strangers in. visit agmrenovations.com and create your new kitchen or bathroom today! ♪ agmrenovations.com ♪ [announcer] c