ed ludlow will join us live from the ground. meta and amazon holding their annual meetings as well, the first one for the amazon ceo. how he addressed growing concerns about worker safety as the company's market cap threatens to dip back below $1 trillion. all of that in a moment, but first let's get a look at the market stocks climbing after a volatile trading day in the nasdaq 100 outperforming. kriti: it is interesting that we see stocks finishing the day in the green. nasdaq 100 relay outperforming here. -- really outperforming here. a lot of it down to the heavyweights, apple and amazon leading the index higher. a lot of that momentum really started gaining after the fed minutes. we start to see traders paring back expectations, that off some of those growth bids. you did not see much of the change in that. the two year yield just taking up a little higher. i do have to touch on nvidia. they just had their earnings out . they missed analyst asked him it's. -- analyst estimates. the year on a -- the stock on a year-to-date b

ed ludlow is here to walk through the movers and who is feeling the most pain. ed: you get to friday afternoon and you see this on the screen and you think it has been a nothing kind of day. not so, volatility across volatility markets. there was this late comeback back on the s&p 500, we escaped the bear market label. but you look at the nasdaq 100, still softer by 3/10 of 1%. tech at its lowest level since november 2020. s&p also lower, the seventh consecutive weekly decline. bitcoin has been interesting, it held its own earlier in friday's session, about $30,000 a token, but fell in the last hours of trading. now about $29,000 a token. the volatility in the equity market was much more chill in the bond markets. you look at the u.s. 10 year yield, 2.78%. we are down five basis points but not one of the days where we saw a big 12 or 14 basis point jump or decline. much more calm bond market even though we saw a move into haven assets, risk off sentiment. you see the dollar gaining strength as well. ultimately this is the story, come with me to my terminal. a be

ed ludlow, thank you. i want to stick with airbnb and lyft. great to have you back with us. i want to get your headline take away from airbnb to start. substantial travel demand that airbnb is seeing despite the fact that we are in the middle of an ongoing war in europe, facing global macroeconomic uncertainty, and 40 year inflation. what is your take away from that? >> we are tired of being inside doing zooms. we all want to get out. i think the travel pent up demand from what we can see at jefferies is like no other, which means we are shifting from outfitted our home to our lives. the amount of travel across borders, returned to cities, the actual return to european travel is all ramping up significantly. if you look at the number of trips that we survey, consumers are wanting to take the summer, it is incredible. i think the cross borders is the biggest return in help for airbnb. ultimately we have also shifted. i really do believe this, ultimately the world has changed in the sense of how we work, whe

our own ed ludlow will join us live from the ground. and amazon holding their annual meetings as well. it is the first one for amazon ceo andy jassy. how he addressed growing concerns about worker safety at the company's market cap threatening to dip back below $1 trillion. all of that in a moment but first let's get a look at the markets, stocks climbing after a volatile trading day in the tech heavy nasdaq 100. outperforming. bloomberg has the latest. why the turn from yesterday? >> it is quite interesting that we do see stocks finishing the day in the green. and as you mentioned, nasdaq 100, really outperforming here and a lot of that down to some of the heavyweights, apple and amazon in particular, leading that index higher. i will point out that a lot of the impetus, the momentum really started gaining after the fed minutes. were starting to see traders paring back expectations in how aggressive the pace of rate hikes maybe. that is those growth fears, sue did not see change in a 10 year yield, but the two year yield, which is more

kriti: ed ludlow bringing us that scoop. appreciate it as always.et's look at one of the major stores from this morning. earnings from walmart and home depot indicate consumers are still spending despite the higher prices. punam joins us now. we see strong retail sales data. what is the problem here? reporter: it is only inflation. from topline perspective of sales the consumer is spending. we saw that in the retail sales numbers this morning with the estimate. we also saw it in walmart and home depot. there is no signs that the consumer is slowing down in any meaningful way. home depot posted an increase. that was interesting to us because we have been hearing from wayfair and others about tougher comparisons. we move off-peak pandemic demand but that was nothing case at home depot. very encouraging. jon: looking at the reaction in walmart shares today and the inflation realities they are dealing with for the business, are you getting a sense as you hear from these retailers that there are certain players that might easily pass on higher costs. and

caroline: thank you, ed ludlow. what a great breakdown. kicking things off.toria green, the chief investment officer and founding partner. what do you make of whether we're going to see capitulation in the market sometime soon? >> we don't think it's going to capitulate yet. the number one advice investment advice right now is don't fight the fed. not all stocks are created qualify. i'm kind of saying out with the gnu and in with the new. the new stocks are not performing like more of the older and valued tech. we want to think you want to be earning companies that give you earnings now that have a sustainable path forward on how they're going to grow their earnings. i think u.s. a lot of stocks being punished. amazon has changed 33% since march and i think investors are looking at how are you going to grow your earnings? caroline: why is microsoft off more than 4%? are people questioning that growth as well or is it the baby out with the bath water? >> a horrible way to put it but baby in the bath water, absolutely. there's nowhere to hide. i don'think the's

ed ludlow got a behind-the-scenes look at the store. if you needed more proof that meta-is going all in on web three, then look no further. take a look at the company's first retail store where vr and ar polygraphs are front and center. this is a metaverse store in the real world. this store is the size of a small house. less than 1600 square eight. opening it is a pretty gutsy move for meta-, considering other tech giants have tried and failed. in 2020, microsoft shut down its door locations permanently to focus on online sales. earlier this year, amazon announced it was closing physical bookstores, amazon 4-star locations and more pop up kiosks so the company could better focus on its grocery business, so why does meta think it will be more successful than its peers? ceo mark zuckerberg said the best way to expand virtual reality is to experience it -- the best way to understand virtual reality is to experience it. we have meta-'s virtual reality goggles, which sell for about $299. >> hold, tap for a photo. single tap to start filming

ed ludlow, very appreciated. next guest, hunkering down ahead of what could be a turbulent time for the fundraising market. we will have that story, next. this is bloomberg. ♪ what's it like having xfinity internet? it's beyond gig-speed fast. so gaming with your niece, has never felt more intense. hey what does this button do? no, don't! we're talking supersonic wi-fi. three times the bandwidth and the power to connect hundreds of devices at once. that's powerful. couldn't said it better myself. you just did. unbeatable internet from xfinity. made to do anything so you can do anything. whoa. >> it is the single most competitive market in the world. how can we have far more companies be public companies where their success is enjoyed by american investors saving for retirement or otherwise? everything we keep piling onto the list of obligations and responsibilities for a public company discourage that from happening. we have seen thousands fewer companies in the public market today than 25 years ago. i hate to sa

ed ludlow, very appreciated.ng down ahead of what could be a turbulent time for the fundraising market. we will have that story, next. this is bloomberg. ♪ as a main street bank, pnc has helped over 7 million kids develop their passion for learning through our grow up great initiative. and now, we're providing billions of dollars for affordable home lending programs... as part of 88 billion to support underserved communities... including loans for small businesses in low and moderate income areas. so everyone has a chance to move forward financially. pnc bank: see how we can make a difference for you. xfinity mobile runs on america's most reliable 5g network, but for up to half the price of verizon, so you have more money for more stuff. this phone? fewer groceries. this phone? more groceries! this phone? fewer concert tickets. this phone? more concert tickets. and not just for my shows. get $400 off an eligible samsung device with xfinity mobile. take the savings challenge at xfinitymobile.com/mysavings or visit

they spoke to bloomberg's ed ludlow. >> what we learned from the store would definitely go into how weuild our product and where we continue to sell it. >> why not san francisco or new york city or lunch? >> great question. this is the headquarters. we thought it was important to have the customer expansion we were creating very closely. we want that to be on how we continue to build innovation of the future. this bill at the perfect place to put our very first experience. >> i have been in a few different situations where you see a product and pop-up format. you are walking, that is in some kind of outlook area. >> a lot of the experiences that we built our unique. this is the first time they have existed anywhere. as we learn more, we will see how those show up around the world. >> is this a luxury experience? >> we want it to be an approachable experience. we want people to feel comfortable asking questions. we built as a people can test out a product. we have it so that you can ask questions. it can be so much more than what people read about. >> what am i going to touch, feel and

kristine aquino and ed ludlow, thank you very much. coming up, delta said it is reducing service by about 100 daily flights from july 1 to august 7. our next guest is betting on travel and leisure. alisha levine, bny mellon and -- alecia levine -- alicia levine, bny mellon, is joining us. this is bloomberg. ♪ >> it is still quite a challenging environment and i think probably got another two quarters at least of volatility as we see the economic backdrop gradually ease a little bit, and then we will be looking towards the fourth quarter may be to seal the more clarity. alix: that was fidelity ceo anne richards. our question of the day, what is the bottom line for earnings? we want to get more on this with alicia levine. what is it? what do you think? alicia: we think earnings probably have to come down from here because we think the margins are really unsustainably high. they are record high margins, staying pretty high this quarter. you can just see where the commentary is going on supply chain and the impact of inflation. so margins

alix: joining us now is ed ludlow in san francisco outside twitter headquarters.ter stock, up today, it far cry from the asking price, the original asking price from elon musk. what are we looking for today? >> whether you are a shareholder or a merger arbitrage specialist, there are a number of scenarios and outcomes we are trying to discern, right? the elon musk bid to buy the company isn't even on the agenda. ned siegel participated in a q&a so you would imagine they might be asked on the one hand there is acceptance of that $50.20 per share, that current bid isn't going to happen, but you are also try to calculate the outcome where the deal perhaps doesn't happen at all. elon musk says it's on hold until he gets more information on the percentage on the platform that's bought but somewhere between the no deal and pricing that at $54 and $.20 per share, is the price more reflective of what we have seen in markets recently? twitter and its recent selloff of weeks and months has seen further pressure because of its guidance for the year. is it going to be a deal?

ed ludlow here with the latest. what was all the fuss about?ne of those days were you just rip up the script. here as prepared, i had this whole spiel about how the nasdaq was higher tuesday, headed for its fourth straight day of gains. nope. in the last when he minutes, we are down .3% on the nasdaq 100. inflation fears starting to creep in. a big jump in yields coinciding with that. yields on the 10 year treasury at 2.58 percent. the only upward trajectory being bitcoin. they traded over the long holiday weekend from $29,000 a token to around $31,000. the month of may. let's take a look at where we ended. i have seen this a few times in my career. the s&p 500 up 0.01% in the month of may. this is exciting stuff. this is what we are here for. a different story in the tech heavy nasdaq 100, down 1.7%. mega cap heavy index down 1.6%. semiconductors -- there are still concerns the bear market we see in technology stocks have more legs to run. we are focused on inflation and focused as well on valuations even though if they come down. are they too

ed ludlow is here with the latest. ed: some relief in the rebound but the inflation outlook, a key cpi print coming wednesday and hopefully those price gains moderated somewhat in the month of april. then you have all the fed speak but technology, 1.3 on the nasdaq, clearly outperforming the s&p 500 and yields are a little softer, still at the 3% mark on yields. bitcoin trading sideways all day long. but we are coming off the back of a three day selloff off the nasdaq 100, a very tech heavy index. let's bring up this chart and ask where we go next. is this just a temporary pause in the selloff or do we see a real rebound? you know i like to get technical. let's get technical. only 10% of the nasdaq 100 trading above the 50 day moving average. normally that would not be a good sign. you have such a pullback and so many prices of companies on that index, could we see some dip buyers come in? rfi, the relative strength index, below 30, oversold territory. so we are waiting to see what happens next and we will open that in

ed ludlow has the latest. heard reid hoffman, a friend of elon musk, we think he's serious and has a plan. ed: he thinks he's serious, i heard he has a plan. a lot of doubt in the voices across the market. twitter stock down 9.7%. the biggest drop since october. the reason we are following the share price in this snapshot moment in time is to track how far it has gone from the $54 bid elon musk made. in other words, the spread. we use it as a proxy to gauge wall street's belief of how likely the deal is to proceed in its current form, or indeed, if it will happen at all. on the right-hand side of your screen, the spread is at $13.48. the gap between current share price and elon musk's bid. thursday night, it was $9.11. we have really widened the spread. the market is telling us it m believes -- it believes musk is going to -- the deal, or walk away from the proposal. we have been speaking to specialists who put the odds of the deal at 40%. that is not high. but it is friday. that is where we are now. let's see

so what we deal with, oh, what is of you with today or tomorrow, but nobody ludlow much personal notes. they don't put them back on the board. both shirts on what i'm wondering because i said the show just give us a cost but, but don't despite a person with it brought out a spot. ah, [000:00:00;00] a look forward to talking to you all. that technology should work for people. a robot must obey the orders given by human beings, except where such order that conflict with the 1st law of the patient. we should be very careful about artificial intelligence. and the point obviously is to race truck, rather than fear a take on various jobs with artificial intelligence, we have somebody with a robot protective phone existence with a good, i'm with the water shouldn't pay for what did you i was going to you when you're, when you're work already stupid on it. there's $4.00 a night to radiate. somebody doing that? you know, we're going more competitive. it was close to that. you are done. press your orders over idea to move you up with our headquarters, but he's only most of it. i'm just public sc

look with columbia. paula, what is of you with martha north ludlow, much worth a little more, said you want us more than back on board. both shirts or more, come with the shows, just get rid of credit with credit or a cost, but up a dollar. despite a personal company that she left booklet, but it brought out a brick or spot. oh, ah, a boutique firm book for us is just like his predecessor, he's a fan of the people i'm from see and they, they have to wait for a normalization on the only see russian relations why the need so because they are no leg to the fact that the west can not to be or increase your eyes again, the west these laws to the west and right to the post. pretty scam ever. ah with or a spoke with madison both both the models you need to do both with a a a a, a a with a personal number you were here with me ah a with what is shown i really will come are you and your little guardianship dylan if there's $40.00 a night with orders, deborah joe to move you up with our courses, but he's only music that i'm sure public school is going to have to pay you quickly . i'm sorry i was

what we do a couple of them look with oh much, what is of you with today or tomorrow, but nobody ludlow, much personable knows that you want us more than back on board. both shirts or more, come with the shows. just get a hold of me. listen, i do. it's going to cost a dollar a booklet, but it brought out a spot. ah, ah, ah . so what we've got to do is identify the threats that we have. it's crazy, even foundation, let it be an arms race is on offense. very dramatic development. only personally and getting to resist. i don't see how that strategy will be successful, very care to kill time time to sit down and talk with a with the what is wrong with it you're going to you and your little guardianship dylan. if there's $40.00 a night, radiate somebody going that, you know, we're going with orders. deborah joe to move you up with our courses, but he's only music that i'm just public school. oh yeah. and you just need to talk to the you people, i'm sorry, i wasn't a, which is not with us with, you know, the disagreement with alice o'brien with isn't going through, but i didn't buy brand new

so he will a couple of them look with oh, what is of you with martha north ludlow. much a both shirts all more. come with the shows, just get a cost but, but donna display person with brought out a spot. ah, today i'm authorized to additional strong sanction. foreign companies, quitting russia numbers. i'm a licensed atm card. so blantan banks disconnected from the international payment system, the social with happy jewel donna and euro exchange rates follow up on a couple more so. so carbon would know what the committee met, the bulk of the bill from this then is the current. can you say, i don't know what you're seeing with volume and russian business overcome this song? c. net and i bought it to the nazi to huddle. she's tremendously just me don't press voice bullshit. nash a productive not to steal a miracle. what put themselves. but when you, so when you would put them presumably is what are you got annual of in your mind for the student, but i see so praise of i deep lives, look i know of k to cost to get the group when you on yesterday with dr. numbness listening, who is a scho

nobody ludlow much porcelain unless they don't bust more than back on both shirts. on what come, what does this does i to the shows just getting rid of credit or a hold on you? listen, i didn't get a dollar cost, but up a dollar despite a personal come with i seen that booklet, but it brought out a brick a spot. ah ah, a full a wrong one. i just don't know if we have to figure out the same because the african and engagement, it was the trail. when so many find themselves worlds apart, we choose to look so common ground. with a with that, what is your place really? where did you come on? are you and your little guardianship didn't? there's $40.00 a night to radiate. somebody doing that? you know, we're going more than it was close to that you were don't close your orders. deborah, go to move you up with our headquarters. but he's only mostly, but i'm just public school. yeah. and you just need to talk with you quickly. i'm sorry i wasn't a nuisance, which is not with us with you there to disagree and look with alice o'brien with isn't going through, but i didn't buy

no one in ludlow, much worth all of them. are they doing what they're gonna put both shirts on what come with the shows. just get rid of a cost, but don't do a lot booklet, but it brought out a spot ah, with business and you will clean a shoes on. yeah, americans, grey, you, when you go to village, just touch not root canal certainly provide you with such a short image names. you talk to different student info, which of course, you know, you get thrown with them in the probably used to live with yours with choice for me to, to one of our things to which you, which in the longer your bush is just a push to, to remote because or leaders new or your personal you school course. i don't know who got i know for the don't know as much of a here comes to the so the 1st opinion finance is come on with. ah, ah, a full look forward to talking to you all that technology should work for people. a robot must obey the orders given by human beings, except where such orders at conflict with the 1st law show your identification. we should be v

at low -- ed ludlow, think you so much. time for bloomberg's first word news. mark: at the white house, president biden back to finland and sweden's bids to join nato. in the face of opposition from turkey. mr. biden met with the finished president and swedish ambassador a day after the countries applied to become members of the defense alliance. pres. biden: this is about the future. this is about a revived nato that has the tools and resources , the clarity and conviction to defend our shared values and lead the world. mark: turkey's president has blocked the two countries former nato applications from moving forward, claiming they support kurdish militias. the united states has identified its first case this year, the so-called monkeypox virus, adding to a growing number of confirmed and suspected infections in the u.s., portugal, and spain. the massachusetts health department reported the case of an adult male who had recently traveled to canada where some monkeypox -- monkeypox infections had been identified. monkeypox is a rare abrupt intensely serious vi

let's get more on the broader earnings story from ed ludlow.ave to keep tabs on that disney plus streaming number. ed: ultimately, that is the focus, disney plus and streaming. we expect adjusted earnings of $1.17 on $20 billion of revenue. we put this in the context of netflix. netflix in the first quarter, disney second quarter had many subscribers. for disney, this will be the slowest period of growth in the year with growth accelerating later on. why? there was not as much new content. but there is optimism. you look at that chart, analyst expectations for this stock the next six to 12 months are high. that represents expectations of a jump of 65% of where we trade now but off the back of 12 months of pressure. the question is, how big is the market and how does it avoid the pitfalls netflix went through? kriti: we talk about the streaming service but 30% of revenue comes from parks and recreation. those cruise lines for example that were decimated with the covid pandemic. i have to ask about the rebound. how much of that is going to play i

bloomberg's ed ludlow has the latest.s this shape the overall takeover bid question mark ed: the margin loan has been wiped out. remember in the original structure of the deal we had 12.5 billion dollars of margin loans. the loan-to-value ratio of 20% meant elon musk had to secure the loan with a big chunk of tesla stock. it was cut down to 6.2 5 billion and in the latest filing it has gone down turn zero with the equity portion increasing dramatically. that is de-risking the whole thing for everyone. remember the other thing that happened since the whole saga started is tesla stock dropped 40%, which meant musk who was collateral rising that stock for that margin loan component was making people nervous about how it was structured. the other big part is he is talking to investors, to get more people on board. shery: and twitter also had its shareholder meeting. you have been outside company headquarters all day. did this deal come up in the meeting? ed: indirectly. it was not on the agenda per se, at one shareholder had

joining as is bloomberg's ed ludlow. can twitter actually do that?ut this whole thing, on april 26 when elon musk agreed to buy twitter, he waived the due diligence. and the language twitter uses in regulatory filings, lesson 5% of users being bots, with the caveat the number could be higher or hard to estimate, has always been that way. april 25 was a long time ago now. the idea that there was a lack of understanding to musk is hard. elon musk has been tweeting a lot, his opinion visible, but he cited the ceo in saying he refused to give some of the data behind twitter's methodology. and if you look at the ceo's tweets, he points out that they met with elon musk week ago, before the tweets hit, before the miami conference and the comments were they explained the methodology, so it is one man's inference. guy: people often argue about other things when they really mean something else. you and i could argue about one thing, but really we are talking about something else. $54.20, is that the number we should be looking at, does anybody think the deal w

is it oh, what is of you are still asleep today or tomorrow, but no one in ludlow, much personable knows they don't passmore them back on the board. both shirts, omeka motors, bunch of the shows. just getting rid of going in order for them was on the credit, if current or a gospel, but dollar despite a personal come with us, she left booklet bacteria brought out a brick, a spot. ah ah ah a with that what is your, what did you go to you and your little guardianship dylan is $40.00 a night with doing that, you know, we're going more than it was close to that you don't put us your orders. deborah, go to move you up with our headquarters, but he's only music that i'm just public school. oh yeah. and you just need to talk with you quickly. i'm sorry. i was on a move, which is now with this agreement with alice o'brien with his and gone through, but i didn't buy my new place, then it was a venture to learn this issue that, i mean, but it's, you can simply choose a key 1000000 of course or stores from your phone or if you're thinking about you go to church, you just know the job is that you sen

kriti: ed ludlow joining us outside of twitters headquarters in san francisco, thank you as always.ontinue the conversation on twitter and bring in and cam partners executive director and really dig into this issue -- in m km partners executive director and really dig into the issue. we heard about these macroeconomic fears. how much of the fears will seep into the twitter story? >> [indiscernible] twitter does more brands in the first thing as an said, the first thing they would pull back is brenda spend. so this will not work in a vacuum. they will definitely see headwinds compared to what snap a seeing come of the industry is seeing, and others are seeing. kriti: i have to ask about whether some of the fears are overdone. the market is largely trading on recession odds, this kind of slowdown that has guaranteed. but a recession is not the same thing is a slowdown so is that revenue story really a function of the fears that may or may not be warranted? kohit: i feel the market is jumping ahead to a certain degree with regards to almost getting to like a self fulfilling prophecy bu

emily: ed ludlow, thank you for the update.watching so many tech companies trying to navigate the selloff. i next guest is one of software's biggest success stories but they have not been immune to recent volatility. the ceo and chair of adobe. great to have you back with us. it has been a while and the world has changed a lot. i need to get your reaction to the latest selloff. we are talking about what's happening in snap, but big tech more broadly as well. what is your outlook given you have been in this industry for a couple of decades? >> it is great to be back on your show. it has been a couple of years. a big picture for us. the move towards digital is an absolutely critical imperative. the truth is that digital is changing everything from entertainment to work to play. i think we are at the center of all of those secular trends. some of the companies reporting, i don't understand what their business cycles are. but we continue to innovate. and our market opportunity continues to grow larger and larger. emily: some folks

we are joined by romaine bostick and ed ludlow. romaine, it feels like the latest wave comes from crypto, but now becoming a broader selloff. what is your take? romaine: we are not quite at 2000 yet but when you look at the key technical levels, where we have come and where we are potentially getting, the general sentiment is there is not much of a poll, so you talk about, is this drawdown we are in the midst of with the nasdaq 100 or the s&p 500 match up with what we saw then. not quite, but getting close. and we do look at oversold conditions, technical measures like how many stocks trading below the 200 day moving average, we are low but not where we were during the dotcom bus. guy: when it burst, it hit san francisco really hard. apple down 22% today. how far could this go? how much fear is there where you are? ed: in five days, we have gone from a conversation around whether it is the bottom to have we even determined the direction of travel? you look at citigroup strategists and their note that tech is an area you don't want

north ludlow. much fossil unless they don't pass water back on both shirts or more than what it does, i to the show just getting rid of credit or for them on the regular guarantor possible buffer dollar display. personal time with booklet bacteria brought out a brick spot with move when i was showing wrong, when i just don't move, you have to fill out the scene because the african and engagement, it was the trail with so many find themselves worlds apart. we choose to look for common ground with a, with the what is shown, where did you come when you, when you, when your work already stupid on. if there's $40.00 a night to radiate, somebody doing that, you know, we're going more supportive. it was close to that you were don't close your orders . deborah, go to move you up with our headquarters, but he's only moves a good. i'm just public school. yeah. and you just need to talk with you quickly. i'm sorry. i wasn't a move, which is not with us if you did this at minimum without a sub rallies with this than going through, but i didn't by minute post it so that should to learn. this is, s

north ludlow, much personal, most. they don't, but some of them back on the board, both shirts on what the motors, bunch of the shows, just getting rid of good in order for them to move on the curriculum. and it's going to cost. but, but donna, despite a personal, come with that she left booklet, but it brought out the brick spot. ah ah, in a russian state little narrative. i've side as i phone and the no santini div asking him then i can also samson with 55 when. okay, so mine is 2000 speedy when else calls with we will van in the european union, the kremlin media machine. the state aren't russia today and split our t spoke neck, even our video agency, roughly all band on youtube and pinterest and with ah ah mm. so what we've got to do is identify the threats that we have. it's crazy confrontation, let it be an arms race is on offense. very dramatic development. only personally and getting to resist. i don't see how that strategy will be successful, very critical time time to sit down and talk a with a water issue. an

ed ludlow and alex webb, thanks, guys. coming up, we will continue the conversation how the task world has changed dramatically. you're are going to talk with the president of bottom -- vital knowledge, adam crisafulli, coming up next. his bloomberg. ♪ -- this is bloomberg. ♪ at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect. alix: it is our question of the day. is elon musk committed to buying twitter? at what price? you have equities in the green today. the nasdaq up by almost 3%. i want to bring in president of a vital knowledge, adam crisafulli. in the beginning when adam announced this deal you said $5,420 -- $54.20 was too high. what is he going to end up paying now? adam: the whole world has changed, but especially the tech world since he came up with that offer. you have seen a collapse in stocks, for a variety of reasons. you have had to back up

ed: welcome to bloomberg technology, i'm ed ludlow in san francisco.s of retailers funds, leaving the selloff on wall street after they cut their growth outlook for 2022. we are joined with the latest. which names are we watching? >> yesterday was walmart, today it was target having its worst day since 1987. it was a miss on those earnings, actually cutting their profit outlook to 6% from 8%. it was not about sales, it was about the highest rate costs in fuel costs in the inventory levels rising up from 43% from one year ago. that was a similar store we saw from walmart yesterday, which is also down in the session today. this is not just your traditional retailers being hit today, that has extended over to your e-commerce. i'm looking at etsy. i'm looking at wayfair and ebay. all of those were down and suffer from a lot of the same problems, supply chain issues, inflation. those are on a year-to-date basis getting hit even higher than the likes of walmart and target. you have to remember we talk about the e-commerce spots. these are actually your pande

ed ludlow. thank you for that update. i appreciate it.t for this edition of "bloomberg technology." back tomorrow. airbnb will be back to talk about the new redesigned changes to search. we have the ceo of arm and the ceo of sonos. big show tomorrow. don't forget to check out our podcast. i am emily chang in san francisco. this is bloomberg. ♪ xfinity mobile runs on america's most reliable 5g network, but for up to half the price of verizon so you have more money for more stuff. this phone? fewer groceries. this phone? more groceries! this phone? fewer concert tickets. this phone? more concert tickets. and not just for my shows. switch to xfinity mobile for half the price of verizon. new and existing customers get amazing value with our everyday pricing. switch today. >> the following is a pai

tom forte from da davidson and bloomberg's ed ludlow. thank you, as always.g up we stick with the volatility in the markets and turn to banks, stepping away following -- following a regulatory clock down -- crackdown. this is bloomberg. ♪ kriti: this is bloomberg markets. i'm kriti cooped up. some of wall street's biggest banks are scaling back or ending their involvement with fax after the sec issued new guidelines. sonali basak, walk us through it. >> today a few days after some of the biggest of the heat had started to come down with the banks pulling out of the stock market we saw some major spacs announce. intraday this index is actually rising once again, but if you look at the longer-term trajectory here, you are seeing the index down more than 60% over a year. a lot of spacs have not worked out for investors. volumes have also come down dramatically. if you look at the first quarter of last year, almost $140 billion of spac's announced. but that volume has also subsided dramatically as banks and investors get a little nervous about the rules in the u.

ed ludlow is here with the biggest movers. ed: it gave the market some confidence and risk-on sentiment. the nasdaq 100, tech heavy, up 1.7%. we are coming off the back of seven straight weeks of declines. it was a very negative mood last week. remember, it was in dour straits. the semiconductor index is not as strong. we will speak about why in a moment. risk-on mode. yields are higher on the u.s. 10 year. 2.85%. bitcoin has troubled around the $30,000 a token mark. it has swung between the levels above $30,000, below $29,000 in recent days, no real direction. earnings season continues in earnest. we are also focused on zoom. we wanted to know what the future was for this pandemic darling. well, the future is hybrid work. the stock is up 10.5% in after-hours. we were up as much as 18%. strong fiscal guidance based on expanding sales, more enterprise customers. more dollars out of those enterprise customers. they showed evidence that they will survive in this hybrid world of work. three million mobile users. then the big tech

our very own ed ludlow. i want to get back to the markets and talk about that.itoring the tech startup scene could i pleased to say that kent bennett, you know him as -- not far from here in cambridge. joe got here to the big city of boston. and what ed was talk about is sort of the valuation, sort of reit size and, if you will. and i know that we do not necessarily follow the markets on a day-to-day basis, but to the extent that that volatility impacts your investing, how do you see all that playing out right now? kent: this is not a new place for us. so that is what a lover focuses on. -- that is what a lot of our focus is on. for the past 20 years for the most part come they have been here. been trading at six to 10 to 15 times revenue. smart people can debate should they be higher, should he be lower question mark smart people were not debating last year, should they be at 40 or 50 or 60 times what they were. so this feels like a new normal, but it is a place that is familiar for us the last two decades. taylor: i think it is interesting though, particularly

julia ludlow representing

isn't this lana ludlow posted by in the ears of the hot was multiple. yeah. which is that is though today people in don't been a so recognized by their actions. they defend the republic fight in the trenches, save the wounded and sink, did it a humanitarian age, liberated areas in front mines to help in any way they can under constant stress, often risking their lives with ah, by that we live in the kitchen, you might say we just go for the chance to swallow pool multinational jello immune to not for the little dogs really interested me disappear. yeah. are you still up about the blue ballast history bought the yoke was most nest. but my guide for mushroom of america at the passport that the julius attorneys to begin the sentence for you. yes. yeah, i'm here with the hots east childcare center homes is 17 children of various ages. they mostly come from so called dysfunctional families, among them of those who have lost parents who walk up or stay on the bridge. aaron garza, my players, possible soccer. i enjoyed that image, lots of position with the with sand

coupled with a change in climate and africa, has a major problem on its hands, nigerian activist or ludlow. so identity is trying to raise awareness about climate change and to assess the time to act as now climate in is no longer a trip, but the reality and the reality is false. we are face tweets right now. so the time to act is now in my name is allowed to, so i didn't care. i'm an equal feminist climbing just this is kind of a clue reporter i'm to find out by lead climate i thought if right info can kill glen growing and no one is the in that in africa. so i did, i did just joined, great, i, tunable to you so, and that's really inspired me and the ward us lodge because she's yelling in the action trying to make the award to understand the impact of climate and, and why most of it's right now with digital to us, it's important for us to see how we can bridge the gap in common. he gets in the midst of people, that is what i'm using my social media neil to do to champion all of these solutions every after because they are taken offline. the tickets or like for people to understand and to

ed ludlow with the latest on disney, and i am headed to watch dr. strange.rg has learned three bondholders not receive their interest payments as the developer's 30 day grace period expired. the noteholders say they were not paid as a 5:00 p.m. wednesday in hong kong. it opens the prom -- possibility of them being declared in default. the first missed the deadline last month for an almost $30 million payment. chinese ride-hailer didi global has provided more details on its planned delisting from the new york stock exchange, saying it needs to complete cybersecurity review and rectification to resume normal operations in china. however, didi also said he remains unclear whether those measures satisfy of already's -- satisfy authorities. they proceeded with a u.s. listing despite chinese protests. coming up -- not surprising given the hawkish fed stance not to mention the growth concerns of the city. we will have the details. this is bloomberg. ♪ is bloomberg. ♪ what's it like having xfinity internet? it's beyond gig-speed fast. so gaming with your niece, has

ed ludlow is here. you have to break the story. you're always on top of the stuff.do you have for me? >> this is the crack squad of disappointed. spacex is going through a funding round. that is eye watering for a private u.s. company, for any private company. at the same time, you have employees selling their private shares. it is important to have that big round and for shares to be sold on the secondary market. we don't know the volume of shares on offer. we do the lunch to spacex. talk about it for a very long time. i think this fed, the outlook for inflation, let's bring up the next chart. this is the valuation that i am looking at. we are talking about this. i know you have a really fantastic bp gas. >> you are spot on. you are always welcome on my show. i want to get back to the markets. we will talk a little bit about the downturn we have been seeing. this is for the big city of boston. we don't necessarily follow the markets on a day-to-day basis but to the extent that that volatility impacts your investing, how do you feel that playing out right now? >> th

ed ludlow is back. >> heavy selling. declines between 11%, 17%, a lot of volatility. a lot of movement away from anything that is associated or has any residence of being associated with terra. emily: back that up. we have seen some big changes with terra. they are trying to save it. >> the terra blockchain, then you have -- the whole point of the platform is it allows traders to be nimble, to stay within it. it's supposed to be pegged to the dollar into the chart that you see is it has just seen a complete collapse. terra usd and luna. the other big point of it was it was supposed to give you a yield, a set interest rate review would have a really tasty return to keeping your assets within the blockchain. if that is collapsed, what we've seen among altcoins and ethereum and to a certain extent bitcoin is bearishness across the market. the demand for the ethereum block has dropped off. it shows nervousness. emily: why is bitcoin behaving differently? >> bitcoin has been hovering around 29,000 or $30,000 per token for some days or weeks. one theory is that it's like th

. >> ed ludlow with the latest on elon musk and the twitter deal.tbank has reported record losses. the fund has been grappling with lockdowns. among division funds biggest losers are didi. an internal review to spin off asian regulations. this after the biggest shareholder pushed for a business to help improve returns. we are told executives are against a spinoff. airbnb has announced its biggest change in a decade as it looks to boost business during the travel season. the company is introducing a new set of satisfaction guarantees for guest and is staffing up an army of customer service agents. the ceo told us the china lockdowns are affecting his business. >> primarily people in china leaving china obviously crossing a border going to other countries. japan was popular. south korea, they are going to europe and other places. because of the situation with china and covid, there is not a huge amount of outbound business . our business in china is not super robust and it will be a while. is going to track with the health crisis. haidi: coming up, an

. ♪ ed: welcome to "bloomberg technology" i am ed ludlow in san francisco, shares of retailers have plungedsday as the u.s. retailer giants cut their growth outlooks. which names are watching? >> yesterday was walmart, today is target having its worst day since 1987. it was a mess on the earnings, cutting the profits outlook from 6% a percent, it's not about sales, it is about inventory levels rising in freight costs. it was a similar story that we saw from walmart yesterday that is also down in the session today. it is not the traditional retailers being hit today, is extended to some of the e-commerce stocks, etsy, wayfair, ads -- ebay. supply chain issues, inflation, on a year-to-date races getting hit even -- basis getting hit even harder. when we talk about these e-commerce stocks, these were the pandemic darlings, that started to fall when you got the reopening. stay home began to suffer as people got back out there and started shopping in brick-and-mortar. when you look at the selected e-commerce index it has given up half of the peak of the pandemic gains. when we talk about shopper

ed ludlow has the latest moves. ed: we love that drama. volatility the buzz word.own .2% on the nasdaq 100, basically flat on a date when it fell 2.5% at one point. the market is concerned about the federal reserve's ability to bring inflation under control without carrying the economy into recession. breaking news the market closed, federal reserve chair jerome powell reiterating a previously stated stance that a 50 basis point hike at the each of the coming two meetings is the appropriate course of policy at this point. we will see how the market reacts to that on friday. the philadelphia semiconductor index of .5%, but broadly risk off sentiment, u.s. 10 year yield down, as we solve people move into haven assets, including treasuries and bitcoin. at one point down $26,000, came back, then down a thousand dollars a token. there is a single name we been paying attention to. apple. look at this chart. it is caught up in the selling. on the right-hand side of your screen, apple has dropped more than 20% from the january peak, the drawdown is 21%. what that means now

power, at least in military terms, is india, sale of equal please also applies to the indo pacific. ludlow geopolitical region, spanning from the strait of hor, moves to the strait of malacca whose aim it is to restrict chinese influence in the indian and pacific ocean lozano. so idealism pacific. oh, the countries in this indo pacific alliance hoped to reinforce india's position in the region and present a unified front to china. they suggested to modi that they step up their military exercises in the region. prime minister modi came into power at a moment when india was ready to take that role and he has grasp it firmly and it's made a big difference. there are now military exercises between those 2 great powers, and although nobody says it clearly, it's a warning to china. america has wanted india to come out of its shell to be the leader in the region that it's starting to step up to be, to be a good partner to the west. there is something that a chinese call their chain of pearls of not quite bases, but ports where they can get material for their navy ships and for their commercial sh