arms hugging furry friends or with just one bag, residents went on the road there to us to the little market, there is a red cross , the car picked me up, the guys brought me from the house so that i could get to nearby, i have grandchildren daughter, they are very evacuated, state services and volunteers have taken out of the region at least 1,328 people, almost 1,200 from the island micro-district, while they are bringing people from the east, here we have 10 people already waiting, that is, people are going who is going to koblevo who is going to kiselyovka who goes to nikolaev that is, if you need accommodation we are looking for other volunteers, we contact and look for accommodation , according to the head of kherson region, there are approximately 17,000 people in the risk zone on the right bank in kherson oblast, and 20 settlements of the left bank part of our region do not have 25,000 people which are also currently used to evacuate residents , fifty buses have been deployed, volunteers are working , police personnel of the state emergency service, employees of military administrati

it's unlikely that apple is really famous for its ability to turn such strange little markets into super-popular areas, moving entire industries forward. here is up, well, some questions, what does not cancel the event itself? most importantly, the global techno news of this day, apple still showed a mixed reality headset to the traditional wwdc conference. this time they were generally waiting with special impatience, just because a lot of rumors indicated that this would happen, but the first one, almost an hour and a half of the main report , was devoted to updating familiar products. the headset, which received the name vision pro and the appearance in the style of ski strokes demonstrated in the framework of the headings invented by steve jobs van mosin, what is it like? well, and something else in general, a noticeable part of the leaks and rumors was confirmed as independent devices, that is, not requiring connection to a computer or smartphone, but with a wire at the other end of the remote battery. under two dozen cameras sensors and microphones provide a kind of artificial augmented re

the kherson region, the evacuation of residents continues , went on the road there to us, to the little market there, a red cross, a car picked me up, the guys brought me a stop so that i could get to my daughter's hand full . on the island, we have 10 people already waiting. someone is going. who is going to koblevo. who is going to kiselivka. who is going to nikolaev ? that is, if you need accommodation . approximately 17,000 people, there are still 20 settlements in the left bank part of our country where 25,000 people do not live . fifty buses have been used to evacuate residents . volunteers are working. of military administrations. the authorities are developing additional evacuation routes and accommodation for all evacuees due to russians undermining the kakhovskaya hpp dam. they will pay financial aid of 2,000 hryvnias per adult and 3 hryvnias for children and persons with disabilities , the ministry of reintegration also announced that kherson residents will receive all social benefits provided for by the state. in total, more than 1,300 people were evacuated. among them there are th

the kherson region, the evacuation of residents continues, went on the road there to us, to the little market, there is a red cross , the car picked me up, the guys brought me to the stops to i got to the full, yes, my grandchildren , my daughter, they were also evacuated, state services and volunteers took at least 1,328 people from the region, almost 1,200 from the island micro-district, during which they bring people from the island, here we have 10 a man is already waiting , that is , people are going . there are 20 settlements in the left bank part of our region, where 25,000 people live . fifty buses were used to evacuate the residents . volunteers are working . additional evacuation routes and population placement we, of course, all of us followed today and continue to monitor how the world reacted to a terrorist act by the russian federation . we will really have one topic that we will discuss from different sides . the rest will be in a moment in the world about ukraine section, yes, and i will tell you right away to remove all the questions. why what was done to the rascal in novaya

intervention and 2011, maybe a descended into chaos after the toppling and killing of its former liter little market, delphi which preceded a brutal civil war in which ne, to um, its allies supported rebel forces. before the term of the day, it had one of africa's strongest most stable economies. but natives over through created the field state and provided an opening for a carol group such as eyes or to take home. archie got a chance to talk to the live in spokes person of the former kit delphic government . mussa came in on expensive interviews. he expanded on the challenges his country is still facing today. how can the black perhaps olympian revolutionary regime made a mistake by not taking advantage of the opportunities that were available to him in social terms and interaction with tribes, as well as an ideological and political spears in order to resolutely correct some mistakes made before those fateful events occurred in february 2011 and i think there were many means to reconcile libby and people, including religious ones. in addition, it was possible to appeal to the existing legislative

so in a little market like miami that is significant. so our office market is doing really well.rates over $100. no one thought they would see 100-dollar rates in miami. it is significantly different. now i think, i hear new york they're talking about converting buildings. i'm not a new york developer. neil: right. >> i'm not up there, but you know, it's, i think it's coupled with all the issues that they have had we just don't have down here. neil: yeah. not just converting them. mixed use, residential, commercial, that has gotten to be a very popular theme up here in the northeast. >> yes. neil: daniel, follow your success well. best of luck to the heat. we'll see what happens. you need four to win this thing. you're team has that -- >> friday is next game. neil: not that you're counting down the days. daniel, thank you very much. >> all right. neil: corner of wall and broad we have a big pickup in activity right now particularly among technology stocks. they have been really the super-duper performers, haven't they here? in the case of nasdaq raising along, dow raising along,

— a lovely little market town in the middle of— a lovely little market town in the middle of surrey,rs or so. now- know, scenario for ten, ten years or so. now the interest netee— years or so. now the interest rates are going— years or so. now the interest rates are going up. they've been eewght— rates are going up. they've been eewght ehon— rates are going up. they've been caught short and— rates are going up. they've been caught short and a— rates are going up. they've been caught short and a lot more eownotte— caught short and a lot more councils are— caught short and a lot more councils are going to be caught out-cause the- councils are going to be caught out cause the interest out because cause the interest netee— out because cause the interest twee—ant- out because cause the interest netee—ant eol rates have changed. and so eettw— rates have changed. and so eeew-te— rates have changed. and so eeew-he not- rates have changed. and so sadly, is not going to be sadly, this is not going to be the— sadly, this is not going to be the-ot— sadly, this is not going to be the-oh ht.— sadl

>> from a trading point of view, i'm watching the next pullback the market is a little overbrought. you want to see it broaden out that could mean the s&p comes down while most stocks do okay the volatility index cracked below its bear market lower end of its range that's something that does tend to happen when you are kind of transitioning into a broader uptrend, but on the macro side, obviously i think you have to get more comfort that the market can handle a higher for longer fed if that's what we're going to get, and that the economy is not just kind of slowly sagging into a formal recession, and maybe it can hang out. i'm onboard with the idea the market has now priced in a little more likelihood of a soft landing which we may or may not get. >> thank you very much >>> let's move on now. as nasdaq continues to lead the market higher, which names might be ready to cool off and which ones really haven't joined the rally just yet. kristina partsinevelos looking at the overbought and the oversold kristina >> if you want to be different in all our retail investors watching, you might

market strategist victoria fernandez. we wait for the dreaded moment. >> we have to be cautious here, i've done the same opposite the past few months but there's littlethis is one of the largest concerns we had about sustainability of the upside market. we are seeing breads improve in the market doing well. headline cpi came down, a lot of elements out there tell us we can be more optimistic but there's the other person on your shoulder that says we had an inverted yield curve for year, 13 months of decline in lers at a pace associated with the recession. 500 basis points of rate hikes to get through. i'm not sure the fed is done yet. not that i think you need to be completely bearish and come out of the market but you have to be choosy where you're putting money to work in the market. don't get caught up in the hype. look at those companies, dickens the balance sheets and find the ones that have been hit and have opportunity to grow going forward. charles: i dread going to the dentist. 95% of the time it is over with and it wasn't that bad. when they took out two wisdom teeth i'm still regretting that but to be this tight and anxious about something

in a sustainable manner from various residuals and other forms of biomass that currently have little marketalue. when thinking about this, we show a number of different potential sources, but they can be categorized into three major components. the first is residues and wastes that have little or no current value. the second category of biomass production can come from biomass that is grown on land it is not well-suited for agricultural production, or on agricultural land that are set aside for conservation purposes. neither one of these would impact agricultural workforce reactivity. at the top end, we had various estimates about the potential for growing new and sustainable energy cross of agricultural lands. this assumes over time that more agricultural land may become available for beccs, based on potential improvements in the productivity of underlying agriculture. the key point is, if you look at only the first two categories alone, we can easily reach over half a billion tons a year of biomass feedstock in the u.s. we think this would comprise a very significant level of deployment.

presidential candidate in the inner tier is willing to say that is kind of a statement of how little marketere is in the party coalition for a full-scale attack on trump, but part of the reason that it exists is because no one they trust is making that argument. so a self-fulfilling prophecy. >> president biden won't touch it either. he didn't touch it at his rally in philly, his campaign and white house says he won't comment. does he have to if you have esper out there and if you have the periphery candidates like christie and hutchinson talking about it, does he lose a really potent cudgel if he doesn't talk about it? >> i think if he gets to a general election against donald trump, you will hear about it. but in a broader indictment of trump's volatility and unpredictability and refusal to kind of follow rules. but i think most people will say it does not make sense for joe biden to be talking about this now since it is his justice department and special counsel that is pursuing the case. whether it also is the right decision for the broad democratic party, in particular former national

so an exciting time for certain to be there. >>> let's talk a little bit about the market, too. 657 pointss is the kind of day you've been looking for and the kind of jobs report you've been talking about. this is your moment. i'll let you shine a little bit. >> shuk. -- thank you i hate to say this is just a day. you know that, i know that so i don't want to get carried away >> this market has not just been today. we've been able to close above 4200 on the s&p for three of the last four days i think i got that number right. here we are, pushing, you know, almost 4300 at this point. at some point, you get people who have been, you know, overwhelmingly bearish off of the sidelines. >> what i like about today is the equal weight index is outperforming the overall index. steve pointed that out this feels good. i want some confirmation i just don't want to get too carried away what i really want, scott, is that cpi coming up in two weeks. you give me that, i'm going to be -- >> here's the real story in the market 4200 has been the resistance for so long, the question is, is it now supported? t

we kind of knew that, but hearing a come out of his mouth on this day is what moved the market a littlerising to 1232 and 1233. still under 70 there'll for intermediate trading. in terms of some individual movers in this market, general mills is off this morning after the food producer gave annual guidance that suggests price hikes will no longer make up for slowing sales as shoppers cut back on spending. snowflake jumping in the wake of an analyst event. detailing new products and affirming a revenue target. analysts were positive in the stock, adding about $5 billion to the cap. you are with the ceo of ai company right now. join us. jon: we have been at the collision conference and downtown toronto this week. there are a lot of people from the tech community and the focus has largely been on aia and i -- ai startups. thank you very much for joining us. you had a business that is trying to help ceos make better decisions with ai. can you explain that? >> that is correct. it help ceos make better decisions by combining the most important areas of their business, hr and finance. anyone w

prices are still sliding another twist homeowners are tending to price their home just at or a little below market value leading to some properties now selling for above list price any decrease or even sustained stabilization of interest rates could mean that the fall looks a lot different from summer in the east bay. i'm leslie brinkley abc 7 news. coming up after the break the is it possible to protect my business from cyber threats? it is, with comcast business. helping every connected device stay protected. yours. your employees'. even... susan? -hers, too. safe. secure. and powered by the next generation 10g network. with comcast business, advanced security isn't just possible. it's happening. get started with fast speeds and advanced security for $49.99 a month for 12 months. plus ask how to get up to a $750 prepaid card with qualifying internet. ♪ dads are special. fun. inspiring. always there for you. so make father's day extra special with gifts he'll love from weathertech. floorliners... cargo liner... seat protector... sunshade... ready-to-wash system and cupfone. or our newest product,

market does want to rally. fomc, yes, people are a little bit paused. the time you want to use your research, you want to use some of the momentum indicators that are out there. honestly, i think there's a lot of upside in the risk -- and the risk is more to the upside, in my view, than to the downside here. charles: congratulations on the new service. of we'll check it out. >>> folks, when i come back, my takeaway on how this market can ignore what is really bigtime news every wells. a lot of investors -- everywhere else. i'll talk about it when we come back. ♪ money changes everything ♪ starting a new chapter can be the most thrilling thing in the world. there's an abundance of reasons to get started. how far we take an idea is a question of willpower. because progress... is a matter of character. ♪i said, i see it ♪ ♪and,i like it and, i want it, yes, i do!♪ ♪i need it to make me happy!♪ ♪baby, yes i do mean you♪ somebody would ask her something and she would just walk right past them, (laughs). she didn't know they were talking to her. i just could

this is a little downside of the markets.'s slb, it's down 12% on the year oil service names have tried and tried to rally they had a nice rally at the end of last year and then sort of fell back again. we have spurts where they kind of work and then they just sort of die that's what's been going on. these are having a tough time rallying here. the energy sector is not really participating. then we talk about the materials. there are some global materials doing okay, but here's lyondell, they are huge in plastics. tech stocks were so strong, they had a hard time advancing. it's up about 7% for the year. this is the problem, all the big material names have, like dow, inc, for example, they're not terrible but they don't have any strong upward momentum then one of these periods, ford and gm, and jim was with ford this morning where it's had a great month. it's up over 20% and so is gm. we get the periodic spurt. again, it doesn't hold up long term long term it's not been a great investment overall you get these short spurts and

little softer as well. that is the narrative, and the spanish market is positive. ing on the equity front today. euro-dollar's price action with a little bit of the assets today. the equity close. we are up around .9%. you actually have a large reaction against the yen. a slightly bigger reaction. there is the german two-year on the curve, but it is all moving today. but side of the curve moving more. we are up around 11 basis sprint 3.132 is where we are trading right now. i was going to show you gas it has disappeared. keep an eye on what is happening. we are no wonder the highest during the crisis. we are coming off the lows, and a lot of the disinflationary forces we've seen have an driven by energy. that may reverse. watch this space. you may get a glimmer on the ecb, but look what happens afterwards. amazing, considering a financial conditions not reflecting what is being said. a real point of tension. let's give a breakdown on what is happening. instructive as to what is developing, basic resources with the chinese data weak today. construction is down and te

meantime, the market keeps advancing, but it's a little narrow again today remember there was little ts broadening out of the market last week very narrow. it's tech again today. take a look at the sectors the important thing, semis moving nicely, tech, there's ark innovation strong, consumer discretionary is strong. what don't you see in you don't see healthcare, consumer staples, even industrials, cyclical sectors which had been advancing, lagging today, although many of them are up right now. just take a look at the movers here you can see that salesforce is strong apple on the upside. amex has been strong recently. merck, doing nothing chevron, brief rally a few weeks ago and really sideways ever since then so, theimportant thing is the momentum is with the tech stuff. look at where the big momentum is right now, it's with the nasdaq 100, to a lesser extent with the s&p 100, and consumer discretionary has been strong recently consumer staples, healthcare, defensive stuff has been notably lacking. in fact, notably lacking since the jobs report, spconspicuousl lacking. i'm not willi

markets returns. it doesn't scare me. i think we see little bit of consolidation. ontinue to take market higher. >> momentum names, morgan stanley looking for what pull back, a third? >> morgan stanley chief investment strategist believes the s&p will fall by 1/3 next three months. ridiculous. charles: that is hell of a call right there. let's to over your list, right? i'm with you, momentum names. they pause. they were they find a way to go back up. usually how people have made a whole lot of money. let's talk first. i have some of the names on your radar. isrg, intutitive surgical. i have not played this one in a long time. what is going on there. >> here is a name i like. obviously health care is defensive name but i don't think health care will give investors the excitement we normally like to see so i like a name like intuitive. the reason for that a lot of its revenue, 80% of its revenue is subscription based revenue. if a hospital system invested money into the rebottom ticks system they're not going backward. they will continue to put more money into it and

markets. tell us a little bit about what you like there. >> absolutely. one half is in real assets. lecom companies, banks, utilities and emerging-market so you are buying these u.s. counterparts for have to a third of the price he would find in the u.s.. they are growing very quickly. we are buying the verizon of south korea for six times earnings. these are the sorts of value opportunities you can find should you be willing to look different from the index. outside of one sector, the markets are really concentrated. they are much more compelling the way you can find. quickly kospi has been flirting with bull market territory. course we know the large korean conglomerates do have some issues with corporate governance , with very difficult structures. do you buy into those names? >> absolutely. this is where investing can really have an advantage. the market has a lot of companies. we can identify which risks we are being overpaid to take. conglomerates are very difficult to analyze. -- you're getting all of this. people tend to say it is complex, stay away. you can get a day going i

until that starts to deflate a little bit, the market's going to hang right here and i think we should have a little bit of a reset in the overall market. >> you know, the timing for the fed in terms of two more rate hikes, which doesn't work well with the timing of jackson hole, which is a change of pace, if a pace change is needed, and that's actually what paul has said in the past to people, jackson hole, that's where the fed is going to start laying the groundwork for a rate cut. do you think that a rate cut or laying the groundwork for thinking about a cut is completely off the table >> yes i think -- i think the fed has latitude in each direction v verbally, but certainly what they did taoday -- we all expected this hawkish pause. i don't think -- especially when, you know, the quotes are risk of inflation are the upside, we still haven't seen the full effect of our tightening, i mean, these are at least dynamics that say, we're on the switch, we may be concerned about overdoing it another stat that just came out over the last couple days, especially as student loans take hold, y

markets and traders have not reacted as we would have seen in the past so positively. >> with extending those gains was out. we are seeing a littlewe do have not only the federal reserve but the ecb and the boj as well. nikkei futures pointed to some upside when markets open at the top of the hour. this after the nikkei 225 saw a net consecutive week of gains as -- the longest streak in five years. stimulus in place despite the fact that we are seeing some upside in inflation. we are not expecting big changes to come from the boj. >> one of the stories we have been following very closely over the past few months, monday sees a symbolic close. the memo internally signaling that the ubs deal will close on monday. this is what they call legal close. : this a bit of a moment for the broader finance industry. we know this deal is said to create a new european banking giant. he recognized there was still many questions remaining about how this will affect staff and credit suisse. >> you're right. this will really shape the global battle for the very lucrative business of wealth management. we have seen this in april finally going throu

cyclical sectors that are far more characteristic of a bull market than a bear market it has been roughly health care, a littleilities. bulletproof indications that you are in a bear market. >> you use the word "bulletproof." so you are suggesting this bull market, which some are debating if it is one, is legit. >> keep in mind what we do, right? we listen to the market, and we don't force our views on the market we just try to listen to what the market is telling us and when we listen intently without biases or prejudice, we find that the majority of the indications are certainly more bullish than bearish. >> trends, though, if not changing on a time, they can still change reasonably quickly based on a change of event no >> you know, it's a little bit susceptibility it is like being healthy, right? if you are not healthy, you are going to be more susceptible to disease. the market is the same way i say on a scale 1 to 10, i would call this is a 7 in terms of the technical strength. i still think it is pretty good. there is a question about breadth. we find breadth chases price i would say that real rates are

markets. potentially it can support things a little bit.ut what we reckon is that it makes sense for us, casuals are very attractive, it makes sense for us to try and capture it for a little longer. that we move the duration for something out of range, but for a bit longer than the tightening cycle might offer. in a nutshell, we think we are in a pretty late stage of the tightening cycle. the quantity of interest rates spreading through the system is very significant, it is the highest we have seen in previous times. the lens of this tightening cycle is rather short, meaning the fed has been very rapid. dani: it has certainly been a strange cycle. we are running out of time here, and i want to get away from the macro a bit and talk about ai. i have a board in front of me with some of these ai tightening's. they kind of touch it, and here is some of the performance yesterday and today for the japanese stock. we are seeing some of these niche ai names correcting 20%, 10%. are we starting to see some of this ai tight bubble deflate? >> what i

market, you have to divide it into sectors. you have the s&p 7 if you say ai, your stock goes up 20% then you have the s&p 400 which has a little tailwind. the stock market frankly is exhibiting signs of mania where you have ace of the market driving the entire train. it leads to a valuation which is pretty scary with an inverted yield curve and the fed raising interest rates the s&p 500 has a pe of 19 on a forward earnings basis if the economy weakens, those forward earnings are greatly exaggerated. the s&p 500 is really overvalued you have nvidia up over 400% year to date i'm going to say that's a lot. there are stocks like that leading the train. this is feeling like the lead-up into january 4, 2022 in terms of the action of the s&p 500. there's been a lot of -- you know, there were a lot of shorts there was a lot of pessimism we've had the type of retracement you would expect to call this a new bull market is pushing it with the s&p 500 at 19 times forward earnings. >> i'm just going off what technically they suggest we've been having debates every day as to -- >> you're telling me pacwest stock is in a bull market? >> your

cash markets are shut overnight. there has been a little bit of risk appetite.terday we had that european session which in many ways is a proxy of how people feel. it does seem that whether that is technical or simply exhausting, the big move overnight is really what happened in the u.k.. they're just nothing higher. this is a central decision. and leading into the session, we have everything from the rba minutes. that was after that surprise decision. it is a june meeting. primates out of china are due out these next couple of hours. coming up, our exclusive interview with the ceo and chairman of the south korean sovereign wealth fund. they are trying to navigate all the uncertainties out there. they are going quite big on alternative. they will explain why in just a moment. moment. stay tuned and this is ready to go online. any questions? -yeah, i got one. how about the best network imaginable? let's invent that. that's what we do here. quick survey. who wants the internet to work, pretty much everywhere. and it needs to smooth, like super, super, super, super

interest rates impacting demand, user market and impacted by a rebound in the production of new vehicles. carmack shares getting a lift but -- carmax getting a lift a littletrying to take some market share it with that. matt: we talk about the average mortgage rate at $3000, consumers looking at thousand dollar car payments. we are seeing default rates pick up here to a real concern and something to keep an eye on in this economy. jon: this is bloomberg. ♪ fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? so cool. anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, warm hot dogs! before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. we moved out of the city so our little sophie fucould appreciate nature., risks, charges, expenses but then he got us t-mobile home internet. i was just trying to improve our signal, so some of t

it went up to 4.3%, up from 4%, but i think the market is still happy that they were able to boost the dividend, even just a little bit, sending shares up about .3% in after-hours trading. melissa? >> all right leslie, thanks coming up after the red hot start to the year for the markets, what should you expect from stocks in the second half in the chart moister is here to dive in on the moraj indseeds and has the one stock that he thinks is poised to real through year's end the name when "fast money" returns. sometimes you need a second opinion. [coughs] good to go. yeah, i think i'll get a second opinion. all these walls gotta go! ah ah ah! i'd love a second opinion. no. i'm going to get a second opinion. with innovation refunds, there's no upfront cost to find out. so why not check like i did for my small business? take the first step to see if your small business qualifies for the erc. ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ (vo) this is sadie, she's on verizon. ♪ the network she

well, avtovaz's forecast is a little more cautious , we think that this year the market for e- cars will0.000, maybe a little more cars, but for us manufacturers. the more the better we are ready and the capacity of our conveyors. oh, and now, the increased capacity, taking into account st. petersburg, will allow us to close this market to close the solvency of demand for any number of cars for our consumers, and avtovaz plans, as far as i know, to produce about 400,000 cars this year. that is, in fact , you confirm half of the market to take up plans, and even perhaps a little more. well , maybe, let's say a little less than half, because part of our cars is planned to be exported, but on average, this is the winant that we currently have in sales of 40% of cars from the total market. she, uh, is quite strong for us. and even if the market grows, we will be able to provide these volumes, is there a shortage of components now ? previously, such a problem was, well, we don’t feel it in our car. uh. i receive a daily report from our warehouses and not only ours, but also dealer ones, and t

i would say as soon as the exit markets open a little bit, i would expect that, and fundraising and reallyn the market will be easier. dani: when you think that will happen? johanna: i think it depends on the financing environment. everybody hopes the financing market will improve toward the end of the year. dani: it will be soon enough that we won't see any funds died by acquisition or lack of liquidity? johanna: i think the way the funds structuring works, as you know, we have a management fee that we can manage the assets, and that structure of funds allows managers to not die immediately. [laughter] maybe a bit dramatic. i think investors like us, we have to be good students. lps are also rightfully looking for liquidity back from managers. dani: what is the biggest concern for lps? johanna: i think the biggest concern is often times managing their own portfolio. where they have a denominator of facts, where they have too much exposure to private equity, how to manage that appropriately. i think they've learned from the global financial crisis, if we go back to 2008 and 2009. a potenti

a lot of crosscurrents on this particular market. a little bit of fear on missing out. this rally may have gone too far. housing starts up nearly 22% month over month in may. the fed will be watching that number closely, especially after the bank of japan reserve bank of new zealand have to restart when their housing markets showed strength. we saw a little money going into treasuries today thanks to the drop off in stocks. the two year yield up to basis points. commodities weaker. crude oil down. some of this is due to lack of detail on china stimulus as well. a couple of stocks to mention. fedex disappointed investors, shares down 7.5% after hours at one point. it announced lower global volumes and the revenue forecast disappointed. estimates for next year disappointed as well. the range took in the top end of the range. paypal down about three and a quarter percent. margins have been fending at the company. let's take a look at the market jitters. our process that reporter is here. is it overextended? >> it is. a lot of the sell side notes were all about internals th

the core is the fact that they the market looks at tends to be a little biller real-time and differentm what the fed tends to look at. the market is more forward-looking, more trend projection focused. the fed tends to have more backward looking and recent data bias. that is where we see a disconnect. there are some signs, auto loan default, the consumer is starting to feel the pain. a lot of forward-looking pain when it comes to commercial loans. i think that is where we are seeing the perspective of the market and the more recent bias of the fed parting ways. alix: if we have to look not on an index level but parse it a little bit, is it as simple as buying a small cap or a little tech? ann: i have a very boring portfolio. i'm super focused on dividend yield and making the most of great returns to cash. tech is a curious one. it remains overvalued for the most part. there are some pockets on the b to b site where you will see much better execution than we have seen for the last two to three years and margin uplift as a result. we are teams really focus. we are starting to see the win

with higher prices on things like agriculture, tomato prices are a little bit higher the snack business is on fire. one thing the market may be reacting to, mike, is that we've been used to the consumer staples, especially the food stocks look at smucker yesterday, double-digit pricing, flat or a little bit higher volumes. campbell's saw down volumes and rising forecast. they didn't do that. part of it, it's not any kind of weakness in demand demand is very strong. it's that they unlike some of their competitors year ago had this inventory rebuild so it's kind of distorting the numbers a little bit he thinks that's being a little bit misunderstood in the market. but overall, volumes should improve as pricing stabilizes here >> it's also interesting, and i mean, you're seeing things like kraft, heinz, and general mills also down more than 2% today it seems like the group is just, at this very moment when people are getting comfortable about some more of the cyclicals and less interested in taking shelter in the traditional defensives, it seems like it might be exacerbating that idea, because they didn't raise guidance i

the market has earned more of the benefit of the doubt, but in the very short term. seems a littleand too cute to running into the highs as you get probably a benign cpi report and the fed. eight months ago to the day was the peak inflation report and the cpi. >> eight months ago today? >> absolutely. everything is lined up in that direction. you had the peak inflation right before the midterm elections now you're up 21%. you rebuilt valuation. now the biggest stocks in the market look like they're getting extended overall, typically this isn't the kind of thing where you tag this level and unwind it all. >> have to see how many bears fall through the wayside jonathan krinski is holding on to the death of the bear is overexaggerated. >> and i get it. you're seeing some of the economic concerns in the market. it's not been a real year move with credit lining up and small caps lining up more to prove, i totally agree, but at this point -- okay. if it's a new bull market, what do you do? maybe you let equity exposures let up a little bit. maybe it's for buying and not getting out. tha

little bit. you've seen this kind of sector rotation recession with some parts of the market suffering a little bitit of a mild recession and that looks like a 5% pullback, something along those lines. it's hard to argue with jobs as strong as they are, earnings as good as they are, the fed coming to the end of something, inflation coming down. we're going to have this revisit of the october lows. at this point that would seem like a drastic geopolitical issue in order for that to come to fruition in my opinion. >> at this point are you a value -- which way are you leaning? value or growth? >> i think diversification is the key. if i wanted to pick up stocks on the near term to capitalize on the next six months or so, i would look at travel stocks. cruise ships are crushing it it's that time of year, people are out there on the airplanes, in the hotels, on the cruise ship s there's so much growth and potential coming out in the next five to ten years. if ai is the future of tech, electric vehicles are the future of driving you look at the growth of some of the chinese ev automakers out there, that'

of cheaper imports it is pressing, experts say, besides, the open soil has already gone to the market little, and will there be enough for everyone ? in the bazaars, first-fruit cherries are imported from odesa, the sellers assure that although they are small, they are very tasty, 80 uah per kilo , if they bring a large one, they will sell it for more than 150, what will happen next , the sellers at the bazaar do not want to talk to the camera they don't comment but they feed me for free thank you, i've had my fill yagidna bazaar, then i look at the prices in the supermarket, if not on sale, everything is more expensive, cucumbers are uah 10, the cheapest tomatoes are uah 65, and the biggest difference in the price of fruit is imported cherries from spain, almost uah 370 per kilo , twice as expensive, and strawberries, 180 near the berry patch, it is not very crowded. natalya is one of the few who chooses the goods because she did not have time to go to the market. in the winter, the buyers with whom i spoke say that they will plant more of their own, as last year, everyone is worried that t

uh, a little bit of marketing.eting lost in a real war when they went they were so sure of victory and that they would go through butter like a knife through our defensive lines. and today they are faced with such a harsh reality with tens of thousands already, probably, who died only on the zaporozhye front, many times more than the wounded. and hundreds of units of equipment and strategic reserve training have been lost, and even western partners are forced to admit this. and by the way, they found the culprit. as it turned out, the armed forces of ukraine do not have enough mine-clearing equipment and sappers. and now a three-month course. they will take 30 days, that is, the course will take 30 days, and i think, that's it, that's why i predict a tactical pause soon, they will need to regroup. it's just not possible anymore. i think at least 30 days there will be a break in uh capacity. we spoke with the commanders yesterday. so in an informal conversation, we think, but this is far away, as if from the officia

out women saw it broaden it ow i think it's going to broaden out more for a healthy market, you do need to have a little reversion on this trade, and i think the fed made it possible for the bulls to continue to run but i think we're going to see a reversion a that trade v it settle back in, all normal, healthy. no collapsie, but we reversion trend. >> it's do you think the economy is enough for it to continue forward, or the fed presence going to overtake the economic strength we see now? they're saying the labor market does need to continue to loosen. hasn't gotten there yet. they're saying that they have the majority of fed panelists saying they want at least another 50 basis points. i didn't interpret that assaying that's the end game. i think the market -- it's the notion they will in fact stay higher for longer. let's be clear, the bulls fought the fed. the bears fought through the pandemic all the way down and lost so i think that at some point you start to get a little top heavy. speaking of breadth, which is the initial question, if you start to look at the iwm, really over the last month, you

market rally broaden out? >> i would like to see it broaden out very much and i think it will. let's go back a littlen time, recall that the market had been running a pretty broad bull market october 12th to march 8th. march 8th is when the banking crisis started, financials really got whacked. energy stocks started to get whacked because they were worrying about all of that leading to a global recession. so, i think what we need is some time here for investors to have more confidence that we're not going to have a credit crunch, economy-wide banking crisis. in a sense that the global economy is picking up enough to drive up the price of commodities. >> so you began mentioning the potential, i saw it somewhere, you mentioned the potential for this a.i.-led rally to have a meltup. >> yeah. charles: a great phrase, i saw, the mother of all melt-ups. that is the target, right? you've been, you've been talking 4600 for a long time. i guess you don't want to get there too fast though? >> yeah, i definitely don't want to get there too fast because the problem with melt-ups they almost always invariably are

i think that is giving a nice little boost to the markets at this point if you're playing in chinese stocks, you're also probably being -- getting some nice exposure to what's happening in ai but, you know, it's very hard to feel very confident about the regulatory regime in those stocks so for me it's neither. >> unfortunately, what the viewer that is arrange gri the fact that it's only been tech stocks that have been running, if you were to ask a person would you rather, they'd probably rather chinese tech stocks on the bounce versus playing the material names because any bounce in the material names doesn't seem substantive. doesn't seem worthy of sustaining, but also the bounce in the chinese tech stocks hasn't held either so you're sort of picking your poison, as guy lochs that term we have to make him a game on that, pick your poison i think it comes full circle with where we started the show you're probably going to get pushed back into large cap, u.s. tech stocks after the reversion happens again. so we'll be talking about this next week, but people -- once again, the market

homeowners are tending to price their home just at or a little below market value, leading to some propertiese. any decrease or even sustained stabilization of interest rates could mean that the fall looks a lot different from this summer. in the east bay, i am leslie, abc 7 news. karina: a broad range of groups joined forces in support of any approach topple -- a new approach to tackle homelessness. a nonprofit that represents county governments partnered with a number of business and environmental groups in support of the at-home plan. supporters want the upcoming state budget to include funding for it. >> without clear responsibilities in statute for all levels of government aligned to ongoing funding, we will continue to fail. . . >> we have road tested some of the at-home solutions already and we know that they work. karina: the at-home plan is made up of six pillars of policy recommendations to help build more housing, prevent people from becoming homeless, and better serve those who are currently experiencing homelessness. dan: you have heard a lot about transit being in trouble but th

bit, i think priced at 32, a little bit above here the ipo market keeps movinger.think yuou cn make a more simple bear case, the market is expensive at these levels, 20 times earnings, that the consumer is losing steam and we got some new spending numbers today. they were flat we're hoping this hour that we're going to expect to hear from the supreme court on the student loan on the biden policy, could be a headwind for consumer spending. we're starting to see a turn there as the job market coalcools a little bit it doesn't take much to send the economy lower at a time where the fed is committed to fighting inflation and doing more of that that's the bear case, right? >> right but that is not going to get the s&p 500 to flat on the year. none of that that means you might see a modest dip in earnings, so we're expecting 220 for the year, 232 on the s&p forward for the next four quarters. your argument that you're making here would be very, very modest declines you would have to see the consumer crater. you would have to see a really serious decline in the job market

under weight the market because you need a hard landing skew but in order to be overweight that's a tough story when the federal funds rate is so high. liz: jeff, listen. you've been a little bit bearish and all the markets done is go up, up, up. >> well here is the thing. i love my dog and i've said this before, but my dog has terrible breath and this market has terrible breath. when you have seven stocks -- liz: you don't kick your dog outside. >> no, i love my dog. my dog is my best friend. no, this market, seven stocks are driving this market. you pull out these big tech and what you have is underperformance of the market. to me, this looks remarkably like what happened in the dot co m bust. i'm not saying it's to that effect but it's looking like that, so i'm not going to trust the market that's relying on stocks like apple which has now exceeded the market cap of the entire russel 2000. liz: wow. >> so i'm not going to, and exceeded the gdp of always australia, canada, south korea. to me the big stocks can't stay in this leadership position without the value stocks in the rest of the market being able to take or have some momentum upwards. liz: but phil, if you are n

there is a move in the foreign exchange markets. a little movement in the pound. today is in the energy market. brent crude down 3%. that is where we are seeing energy stocks coming under pressure but it is a massive week. today is the warm-up out and there -- act and there are many risks. mark anderson is our guest in the next hour. this is bloomberg. ♪ fo welcome to a new era of flight. we moved out of the city so our little sophie could appreciate nature. but then he got us t-mobile home internet. i was just trying to improve our signal, so some of the trees had to go. i might've taken it a step too far. (chainsaw revs) (tree crashes) (chainsaw continues) (daughter screams) let's pretend for a second that you didn't let down your entire family. what would that reality look like? well i guess i would've gotten us xfinity... and we'd have a better view. do you need mulch? what, we have - we're taking the familylch. to cancun. - i'm off to iceland. - my husband and i are going to paris. - how are we getting there? - with going. - just sign up for free, and going f

this is bloomberg. ♪ alix: markets trading a little heavy but pac west shares are up 7%.ion to aries management as original bank is trying to improve its liquidity. take us into the detail here. it was this the sort of first republic, svb fallout for pac west? >> we knew that pat west has been trying to find ways to shore up liquidity and get ahead of future problems. when first republic and silicon valley bank -- we know pac west was under serious pressure in the market and they got a credit line from an entity that had an affiliation with a business that used to be part of credit suisse. for them to be able to tap the credit market multiple times, it shows that the capital markets are opening up any more robust way and private capital is here for loan packages of this size. also, you have to do this by the billions. this cannot be done in small scale. the question is how many of these loans are available? guy: have a now done enough? >> the question is it depends on how long the strings of a banking system persist. pack west has said to believe dollars of cash proceeds

homeowners are tending to price their home just add or a little below market value, leading to some properties selling for up of list price. any decrease or even sustained stabilization of interest rates could mean that the fall looks a lot different from this summer. in the east bay, i'm leslie brinkley, abc 7 news. liz: sam chans has debuted a new affordable transit option. it is called ride plus. sam trans ascribes it as a micro travel service. residents both their rides online and can request specific pickup and drop-off locations as long as they are within the service zones. waxed micro transit is designed to cover areas that may not have the population density for a giant bus. it is service on demand, so you use your app, you go online, you can even call to arrange your ride. the ride will not cost you any more than a normal bus ride. liz: the service is available to residents of half moon bay, l granada, east palo alto, and belhaven. it will be free from this sunday through july 31. flowers and rainbows will be in abundance at a four-day veil now open at the san francisco meant. we spok

another twist, homeowners are tending to price their home at or a little below market value, leadingrties now selling for above list price. any decrease or sustained stabilization of interest rates could mean that the fall looks a lot different from the summer. in the east bay, i'm leslie brinkley, abc 7 news. liz: sam trans debuted a affordable traveling option. passengers book their rides online or in an app and can request specific pickup and drop locations as long as they're in the ride plus service zones. >> microtransit is designed to cover areas that may not have the population density for the regular giant bus and it is service on demand so you use your app, you can go online, you can even call to arrange your ride. the ride will not cost you any more than a normal bus ride. liz: the service is available to residents of half moon bay, el grenada and bell haven and will be free starting sunday to july 31. after that, riders will have to pay a small fee through the app. flowers and rainbows will be in abundance at the we spoke to them on abc 7 at seven. fleurs de ville, we brin

too unusual for them to change a connector, and if anything, it's -- it was more about the market being a littlee overall, it's good news for everyone, because it -- now it gives all these charging station operator and manufacturer access to much bigger market in ev industry, which is tesla vehicle, which is the majority of the ev market in north america. >> do you have a sense on how tesla benefits i understand that they open nacs technology up to other parties back in november, but do these companies have to manufacture through tesla, do they have to license the technology >> tesla is making it an open standard so, there's not going to be any licensing cost or anything like that my understanding is that tesla is prepared to help anything that is going to need those connectors, so, probably going to manufacture them for them for a period of time, but all of the charging station manufacture can manufacture them themselves through the connector, so, on that front, tesla doesn't benefit much, really >> so, talk to us a little bit about the landscape here it seems that there's, you know, 20,000, 30

little bit more evidence and then maybe july and august? there are a number of possible condemnations. because he probably needs to be more restrictive. the labor marketo loosen up a little bit to get on top of inflation. we see this challenge right around the world. they are all grappling with how restrictive rates need to be to get inflation on a downward trend. across how much will a hike in the national minimum wage influence the decision from the rba? not to mention just broader inflation in australia? >> i think that minimum wage decision will be one of many factors the bank deliberates on today. thought about what the appropriate stance is. in our mind, it is likely that the 5.75% increase that applies to about a fifth of australian workers was on the high side. we think the national wage case decision will add about 24 to gross annually. that is a little too high. this is against the backdrop of what is still a very tight labor market. broadly i would pressure on wages. that is the crux of it when you have a request that a very elevated. i think the minimum wage case decision as to the case to take rates a bit more restrictive in australia. th

market a bit more chirpy. adidas helping the dax out. a littleion process per the final few minutes of market action. a subject we've been focusing on. curing cancer with ai. that's one of the top picks that's very relevant. we will have the latest kicked off her. this is bloomberg. ♪ >> you are looking at a live shot of the principal room. coming up, virgin's capital advisors -- verdence capital advisors cio joins bloomberg. keeping you up today with news from around the world. in italy, the former prime minister berlusconi has died. he made billions as a media mogul before running for office. he ended up being the longest standing postwar prime minister. his nine years in office were marred by sex scandals and allegations of corruption. he was one of the most influential features in italian politics the last few decades. he was 86. in ukraine the government says its troops of liberated at least two villages in the eastern part of the country as part of a first wave of a long-awaited offensive to take back russian held territory. ukraine's gains