sector is higher except for consumer discretionary tesla is down another 3%. >>> let's bring in mike wilson from morgan stanley. mike, really glad to talk to you, especially today, because you did have a tactical bullish call and part of it was on the midterm election, that that would help stocks and bonds. why is that? >> that's right, sara. we made this call two and a half weeks ago and it's worked out. the first part of the rally was really just positioning and sentiment kind of getting washed out. in order to get further support for this rally we feel like rates need to come down. so today ten-year yields are coming in. we're still too high for stocks to make the next jump above the range mike was just talking about. we do think that tonight's election could be very important in that regard because it looks like the house will go the way of the republicans that means gridlock, probably less fiscal spending will be achieved we think it may not be in the market like when we had the georgia runoff, that wasn't in the market and rates went up and we got more fiscal spending. we think this i

mike wilson has adopted the short-term will status.ike a lot of edge continues to be able forever. i have the same narrative that bond volatility has peaked and yields have peaked. do you buy it? alan: you have to listen to mike wilson, he has really called it. i am with him on the technical bounce absolutely, whether you look at sentiment, etc.. interesting longer-term he wants to see evidence of cost-cutting, seeing that in big tech names clearly. look -- we deal with on's first. we think bonds are strategically attractive. it's about time we had a positive inflation surprise. there are lots of errands of lower inflation. bonds first and then equities. if you look at just the nature of equity returns, maybe this is where mike is coming from, these surges you get are difficult to time and i think of mentioned before that people remember 2018 and after that fed tightening, within five months, from about christmas eve in 2018 through may, the s&p up 25%. it is difficult to play from the short side and sentiment, you mentioned had fudge

figures out the trajectory of the economy here >> let's bring in our headliner for the day that's mike wilson, morgan stanley chief executive officer and new number one portfolio ranked strategist in institutional investors all america research team in 2022. that's a lot of cv street cred you've got there, mike and you've been right for the better part of this year where the market is headed with all that being said we've seen the nice rallies for the last month, month and a half or so is the bottom still in or do you think there's more down side left to come >> thanks for that intro i think we made this call, a tactical call a couple weeks ago. we felt like the setup was then the market held up despite those stocks falling by the wayside, and it's a technical market right now and we think the price action we got last we can on the back of those earnings makes sense. however, we don't think we're going to get enough capitulation in 2023 estimates to take us to new lows we did a lot of good work in september going into earnings season much like in the second quarter so now we're getting reprie

. -- crystal ball except for mike wilson. how much do we get a sense of what the red lines are with how much xi jinping is trying to lure american business back. there was an article over the weekend how banks were retrenching from china quietly and also seeing how much blackrock is closing. we are talking to peggy collins for a discussion what we heard from chris waller. tonight, the fed president john williams having a discussion at the near economic club. this evening, the bloomberg new economy forum picking -- kicking off in singapore. harry kissinger and catherine tai the first speakers. jonathan: mike wolf talking about the volatile path after testing something like three k in the first quarter. can you walk us through where you see the earning risk in the corporate economy for america and where you expect it to land? lori: i think the ultimate low in october because three to six more you get the final earnings is where it typically bottoms and challenge periods. we are at 2.08. we have moderate inflation bake in and it

>> mike wilson >> mike wilson >> yeah, i thought you were talking about somebody else. >> he's part of my court, in fairness >> but even wilson, who is negative, can see that there are potential positives in the near term to make the market higher he says equity markets remain -- if rate volatility continues to fall, pe will continue to fall you are arguing, steve, that pes are still too much and he says they can expand more if rate volatility you spoke to goes away >> the reason they can expand is because the earnings are going down and the market is staying where it is. that's just an expansion verses the expansion we saw the other way, where earnings are moving up a little bit, and the pe multiple kept moving up. >> what about where you think earnings are going to go and we are going to have a recession and whatever, but it's further off than you think you have a pocket of opportunity that could be -- i don't know, i don't know how long, six months, nine months? >> i agree as i said before, i think it's volatile if the market sells off because the cpi is too hot or comes in as expec

>> with respect to mike wilson who made fabulous calls. i disagree.e is calling for a rally in the event republicans do very well in the midterms. i'm not necessarily in that camp. we could get a pop for sure but i think any rally we get will not have legs. it is not about fiscal policy. it is about monetary policy and the if he will not pivot anytime soon. this market has more downside to endure. charles: meantime, gary, the market is exhibiting some pretty good resolve. you had a good stretch into last week. friday wasn't a bad session. today is okay. is this at least a trading opportunity? >> specific places, charles, if you didn't look at the dow and looked at the nasdaq and the nasdaq 100 you would not know we have not had any rally since october 13th. the dow has kind of v-shaped up. the nasdaq and nasdaq 100 are at their lows with a bunch of names in high beta, tech, and software that have led throughout decades breaking into new yearly lows. two-way tape. you better be specific. we're in right now i call the revenge of the nerds market. i thin

. >> right any on "fast," mike wilson said we have a ways to go before markets start their real comeback we'll find out how much more he said we have to drop >>> and sour apple, shares of the tech giant down 5% this week latest headlines that sent shares lower and where the biggest company in the country is going from here. >>> and it is time to dip in chips. one top analysts has a few names that he thinks are ripe for the picking. we'll find out what they are >>> and a cyber break down, shares of crowd strike plunging to more than two year lows we'll bring you the trade. i'm melissa lee and this is "fast money" we're live at the nasdaq market site in times square we start off with a choppy session for stocks the s&p and nasdaq falling for a third day while the dow managed the slightest of gains at the ae end of the day and with one more trading day in november, the nasdaq has gone negative for the month the deciding factor could be jerome powell, delivering a key speech tomorrow on what is ahead for the market at the brookings institution. what are we expected him to say, guy? >> it is

listening to jim paulsen yesterday and mike wilson today. you can never call an exact bottom we just went through a pandemic. now we're in the tightening phase. things can only get better from here >> money would be cheaper in theory >> world war iii notwithstanding. hopefully things will not go up. we should be at this time of year, we're excited about 2023 it's coming. we're going to have the glasses. look where we are. >> in times square >> where do people go to the bathroom i think i know where they go >> too early for that kind of talk >>> cryptocurrency ftx executives and lawyers in a delaware courtroom today for the first appearance before the bankrupt judge creditors and customers paying attention to details on how the bankrupt exchange will deal with debts and customer funds ftx will ask for permission to pay suppliers and outside vendors. i think the depression is getting worse for people waiting for money i think they are starting to wonder it is not man united what is the company? man financial? what was it? >> what are we talkin

think just completely channelling mike wilson. think we'll know by tomorrow if not 5:30, i think we'll see exit polls we'll see the gop is going to take the house. i think the gop will take the senate i think that will cause a bump in the averages particularly among the oils i think the president's team is viewed distinctly anti-business, wherever business can be found it's anti- it's not the cereal or something. >> it's strange. andrew brought this up during "squawk" this morning. the split between the gop and chamber of commerce is also happening. so it's like where does business turn right now >> well, i think that business in general people who -- yes, that's a very sophisticated view but i think in general people just feel like, look, if the republicans win, the possibility of a particular president coming back, who is very pro business goes up dramatically >> what about the possibility of them not raising the debt ceiling or at least using it and this is really many -- i mean, the expectation is the republicans are going to

morgan made a lot of waves after mike wilson made his call, he came out with the same kind of thing, not exactly the same, he figures inflation is going to peek and start coming down more in the first part of the year. that is what is going to open the fed to start slowing down. stopping the rate hikes, smaller rate hikes and getting to the point where the rate hike forecasts are not set in stone. one more thing, i'm still waiting for the governor speaking to parliament. haslinda: pn is under pressure. let's dig deeper, get the market perspective. so much hinges on the messaging from the fed. the physic the market is pricing into much optimism. guest: thank you for having me. the set up was housing data, consumer sentiment. there might be room for slowing. you have the rest of the central banks going at a slower pace, we of the pressure is outside the u.s.. the market is reacting. what we have is we are still thinking about 75 basis points, but the market will have to take solace in what data is going to come. the fed wants us to look at the data and market will take the fed and watc

interesting that mike wilson said the inverted yield curve is a great indicator of recession. he thinks by early next year -- that the end of tightening is near but not necessarily rate cutting. one thing leads to another, markets discount the future, so maybe early next year that could give stocks some of the boost they want. david: if only we knew what would happen. mark, lance into the future, for example. some level of cuts are being priced in. assuming the fed doesn't hike, what do market conditions look like under that scenario? >> i think it is combined with perceived peaking of the cpi data. you got to pretty nice tailwind for risk assets in general. we got a taste of it earlier around june when people wanted to leave that cpi was picking up in the u.s. and for a while, it's coming down quite fast. it will be reversed, but the cpi data remains to be seen. we know what it can look like we are probably getting ourselves closer to that is-ish and. but the traders are not wanting to put too big of a bet on things because they been disappointed already a couple of times thi

caroline: you were just hearing from mike wilson, morgan stanley strategist, about the current landscapeayoffs. let's dig in a little more. plus, much other topics with michael wolf. management consulted, coo and president of mtv. on the board of yahoo!. a man who understands what it is like to swim down businesses. what do you make of not only disney saying they are going to be cutting jobs, we heard from the artist formerly known as facebook. these are significant. >> there are a lot of other companies. striped, lyft. if you look at the numbers, in a lot of ways they overshot. they expected the growth they saw during the pandemic would be sustained. meta in 2017 had 25,000 employees. 2019 50,000. after the cuts, they are still at 75,000. this is just going back to yesterday a little bit and it is also a moment in which they need to say to their investors, we are going to focus on profitability and recognize the realities of the web. caroline: what is interesting is the manner in which these are being announced. to his credit, mark zuckerberg had a moment. he said it was his personal re

we know that mike wilson have talked about how if republicans maybe take control of one part of the senateld be good for stocks. we are seeing that reflected in old economy stocks. guy: thank you very much indeed. that is what is happening right now. let us talk about what we are watching over the next 24 hours. we continue the earnings story. we have already had some details they are. susan collins all on deck. alix: we have earnings out from disney tomorrow as well. the big event is the u.s. midterms. david westin up bloomberg balance of power joins us next from washington. this is your super bowl over the next 72 hours. how read do you think a sweep is going to be? is it going to be crimson? david: let's start with what we know. what we know there is a lot of races that are tall subs at this point. nash toss ups at this point. only one seat the senate to swi. there is a lot of indications of that republicans are in a very good night amid, maybe -- night of it, may day, maybe week. they have all been contentious as far as i can tell. you may well have a runoff in georgia. you have to get

conversation my sense with the corporates here i don't know if you were following the statement from mike wilson at morgan stanley. the cio over there got the october call very right on the u.s. markets higher now arguing a lot of the corporates on the earnings story areperhaps being rather vague. deliberately vague on the outlook. his conclusion is morgan stanley bearishness will come. he was good on the october can we play the bite it talks about cfos are hoping for the best, but starting to plan for the worst. >> as i look at the books for the two to three months, we see moderation beyond normal factors. all of the news that we look at in the key indicators into next year suggest the storms are ahead. so we are going to wait for the waves to hit, but we are getting ready. we think we will weather the storms very well even in the climbing demand environment, we think we will do well and holding on to pricing and actually do pretty well from the demand point of view as well probably .75 of the portfolio. we are ready for the 2023 challenges >> interesting earnings recession where is it? it is n

. >> good morning, seema >> mike wilson says the fed is nearing the end of its rate hike cycle.agree >> i do not agree with that. i agree with the market expectation that the next move is 75 basis point tightening this week. i expect 50 in december and 75 on the table and i expect two more times next year maybe 25 basis points. i think we are not nearing the end as maybe other people think that to be the case. >> what data points or economic reports will you look to give you more confidence that the fed is nearing the end of its rate hikes? >> well, recognize that the fed is singularly focused on inflation. looking the incoming inflation reports is very important. there will be a couple of those before the next meeting in december in addition, what is driving that concern is a very tight labor market we will see several reports around that going forward as well i would be looking at those two areas. i would say right now while inflation may be cooling somewhat, i think it is still far from showing the clear and convincing evidence it is returning to the fed longer term 2% target

mike wilson is one of them. but it is going to be a short-lived rally, according to wilson.ok at individual movers, particularly in the tech space, we have apple lowered today after the announced they are planning on cutting back the production of the iphone 14s. meta a different story come up 5%, as they are planning on laying off workers as early as wednesday. we are seeing the proshares ultra pro qqq etf, providing few times the daily performance of the nasdaq 100, had a really big inflow last week, but coming off as the nasdaq 100 moves lower. i've been thinking a lot about maker cap technology and their influence on the s&p 500 and the broader market. it has felt like the last few years the s&p has needed those large-cap technology stocks to move higher. you look at the cap-weighted index divided by the equal-weighted index. as the ratio moves lower, it shows that mega caps are having less of an influence on the broader market. perhaps that equal-weighted index as the tech stocks gets mother is where investors want to be when they want exposure to large-cap technology s

year in the first four years for presidents and the man that called the bear market this year, mike wilson republicans win at least one chamber of congress like the house, at least, that's a potential catalyst for lower bond yields and higher stock markets. that's enough to keep the bear market rally going and says a clean sweep by the gop will greatly increase chances of lower government spending, reductions of the budget deficit, that means lower yields, higher stocks, bulk case for s&p 500 to rally 10% to 4150 but sell if you see stock markets dim down to 3625 and cut off the bullish bets and the man that called the bear market right says there's ways to go. stu: we should get mr. wilson on the show. he's fantastic. the berkshire hathaway people reported over the weekend. susan: who can afford that, except maybe stu. stu: you buy fractions. fractio. susan: so 10 billion plus losses on investment and bustle buying back -- buffet buying back and can afford because he has billions on the balance sheet and only con sen straited in five -- concentrated in five stocks and this is the high con

mike wilson of morgan stanley has a ton to say about that. tom: we have to go right to cpi and the question i have, are we looking at rents sticky, a reaffirmation of oil? i'm on the bright $100 watch. that is a gallon of gas. jonathan: do you want the results from the election or cpi upfront? if i could give it to you right now. tom: i would take the cpi statistic upfront, but it will be an eventful election and based on the punditry i see in many of these guests in washington, to me the basic idea is how much -- four years international relations at -- jonathan: are you still upset by the game over the weekend? tom: i'm not upset. in hockey, there are people who go directly to the net. that first goal was textbook. jonathan: bramo, save him. he is very upset. lisa: before we get into the how muchedness, we are seeing because of cpi and inflation, the idea of less fiscal spending being positive for stocks. people are expecting a rally because of the prospect of less fiscal spending. at 9:00 we will get the european view of this issue. how do

mike wilson was suggesting we could get to 4150 or beyond that he thinks still expect higher highs for this tactical rally before the deterioration can we put something together over the final six weeks before we face a bit of a reality check of where we are? >> i think it's possible we saw it two weeks ago, what happens when there is a piece of good news that investors like. nasdaq went up 8%. inflation was 7% year over year. and i don't know it seems as if there's a lot of buying appetite out there, but it's not coming into play until we have actual numbers that confirm that there's something positive if you get another print of inflation that the market is enthused about, and i believe more layoffs, and layoffs are a positive for the fed meaning there's less people spending more money and pushing prices higher, so the tech industry is beginning to rationalize we have seen that from meta, amazon and google. there are a lot of companies talking about cost cutting then you saw on the spending site of consumers, while the overall number was good, target told us their customers are not b

mike wilson at 9:30, in the next hour. might have john henry on liberal -- liverpool.new york, this is bloomberg. ♪ >> keeping you up-to-date with news from around the world, i am lisa mateo. ukraine's president, volodymyr zelenskyy, once iran to be punished for helping russia. if it was not for russia -- iran supplying weapons to russia, we would be closer to peace now is what he said. in brazil, there president will unveil a multibillion-dollar spending plan to pay for social aid. it will be the first test of his congressional support before taking power. he will need approval. meta-will start laying off thousands of workers this week. the job cuts could come as early as wednesday. meta-had been struggling with growing losses and has been investing heavily in developing its metaverse business. shares are down 73% this year. the northeastern u.s. is heading toward a winter heating prices. retailers in connecticut are rationing to prevent panic buying. there is warnings of a natural gas shortage. northeastern consumers faced the highest energy bills in decades this win

earning expectations and growth continue to come down, and however in the here and now, you have mike wilson, again, morgan stanley, who says the lower end of the prior target for the rally was achieved on friday we think the upper end of the range, which was 4150, by the way, will be reached and we would not rule out even higher prices should the ten-year fall more precipitously, i e, 3 and a quarter, and it's 386. despite what you may think is in store down the road, is there a runway to have a meaningful move higher >> i would agree with mike here on those points. if we look at last week, obviously we saw a much softer number on the inflationary print, and we saw a dollar down 4% last week, and we saw treasuries taking a break. for me in the short run, and potentially we have another inflationary look in december, and i think we can see a short rally, and i think seasonality plays a role and positioning plays a role where folks are offsides, and so i think we could see a rally, and obviously there are headwinds going into 2023 with a fed that needs to be very much engaged, as powell menti

yesterday we saw mike wilson from morgan stanley say the fed is nearing an end to aggressive moves. that expectation drove the market. we'll see if it continues. >> 100%. it's all bowel markets trade between expectations and reality and reality a is not as bad as everyone was saying. maria: ryan, great to see you. come back soon. quick break and then president biden takes aim at senator rick scott during his visit to florida yesterday. warning that republicans are cutting medicare and social security if they take over congress. senator rick scott is here to set the facts straight. back in a minute. ♪ beautiful people. ♪ is it possible the only thought that comes to mind is... ♪ finally? this is financial security. and lincoln financial solutions will help you get there. as you plan, protect and retire. ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire xfinity rewards is a program whose sole purpose is to say "

securities managing director great to see you are you in the camp fed tightening is nearing end as mike wilsonrote in morgan stanley report earlier this week being what do you expect jay powell to take behalf of the announcing a rays hike. i think i have been in the kafrn a little bit early in terms of being about the optimistic, a lot of people say now is not the time to be a hero are there saying that late september, i was, of a mind now is not the time to be a coward i have been on the floor a long time know what capitulation looks like smells like we haven't seen anything like that i was convinced we would find a level i think there is a a little bit of swagger back small but it's coming. as far as interest rates concerned 75 basis points does seem consensus down there i think there will be a surprise if he dose something else the question what will be the reaction if he does something else, because you know sometimes good news is bad news bad news is good news. as far as, moving forward, i know, there is this -- there is perception that there is kind of this binary relationship between wh

chris, there's also a report out of morgan stanley yesterday, mike wilson wrote to clients that the ende federal reserve's campaign to raise interest rates is approaching. your thoughts on that given this major rally we saw in the month of october. >> i don't think it's a surprise. the fed can't do 75, 75, 75 indefinitely. there will be a moderation in the pace of rate cuts. the bigger question is not whether thed fed keeps going or stops next year, it's do they have to ultimately cut and that's where i disagree or i think the consensus view is the fed is going to he remain at the level where they cause rates for longer than the consensus expects because of the inflation environment that we're in, i still believe is stickier than the consensus expects. one of the biggest disconnects is when it comes to bond yields. if we're going to keep policy rates relatively high, i don't think we'll get the relief in bond yields that the consensus wants. isn't that what the market tells us through leadership, the weakness we see in tech and longer duration stocks argues that inflation is sticky, rat

window for a soft landing is getting more, you know, narrow to try and do that morgan stanley's mike wilson, i don't know if all of you caught this or not he was on fast money last night and said he's looking for as much as a 24% drop from yesterday's close into early next year. so he's been negative as you know he's not changing his stripes in any way. you can expect an s&p between 3,000 and 3,300 some time in probably the first three months of the year. bear market's not over, blah, blah, blah you know the story he's been telling for many months now. but he's sort of doubling down on how ugly it might get 3,000. >> yeah, i think the question is going to be what are the earnings going to come out the next couple of quarters really the market expanded because of the pe expanding and now you're going to see the pe compression and that's going to happen so we think the question is going to be how consumer is going to react, how companies are going to actually sell products, and you've got a combination of layoffs and you've got a demand destruction you could see a period of softness the quest

we heard from morgan stanley's mike wilson already, more bullish on equities when it comes to tradingabout: that's right -- anabel: that's right. here some context for those in asia, it's for republicans to win at least u.s. house and maybe also the senate. that would mean gridlock but it is not such a bad thing for investors because it can mean continuity of that status quo and it can reduce uncertainty. some of the key sectors where focusing on, dig tech is one of them, alphabet, meta, they are targets for potential regulation . we understand that the biden administration preparing a poster midterm push for antitrust regulation. the gop has already said it will not support if it takes control of either house of congress. the tax break for rnd, put in place by the trump administration, expired last year. if we see republicans taking control of either the u.s., house or senate that could mean that is back in focus and it could be a positive for investors in the sector. another area we are watching is what is happening in the energy space. so, we understand that if republicans win at t

equity guys have continually felt different from the bond guys >> well, i ask, because yesterday, mike wilsonlking to some cios, according to the desk over there, and said that needed a whole 36.50 for one but also said if the ten-year got above 435, then his tactical bounce call was no longer valid >> i think he's going to be right. i continue to see the companies that do best are the companies that put through price increases. you mentioned hershey. there's just -- you can charge anything for chocolate >> hershey is amazing. organic up 12. street was looking for 7 they raised the guide. they see organic up 14 >> i mean, organic up 14 again, david, if you're in certain businesses where people snack, you can charge what you want, but that's inflationary. >> i know. but they've been executing -- they've been just doing a great job over there at hershey. what can i say >> i begged michelle to come on. >> i know. she doesn't do a lot >> i failed. >> she downtown a lot, the ceo of hershey >> i offered "mad money. i offered 11:00, which is not mine to offer. did you guys catch tony today on doorda

they're a better bank because it's right there >> as for the markets, mike wilson on "fast" last nightreiterating the view that you could see a potential drawdown of 20-plus percent in the first few months of next year. here is what he said >> it's about the path nobody cares about what's going to happen in 12 months they need to deal with the next three to six months, and that's where we think there's significant downside, so while 3,900 sounds like a really boring six-month, no, this is going to be challenging. it's going to be a wild ride you should expect an s&p between 3,000 to 3,300 sometime in probably the first four months of the year. that's when we think the deceleration and the revisions and the earnings side will kind of reach its crescendo >> not the first time he said that >> no, but that's the 5% solution you get the 5% fed funds, he wins >> down a thousand points from here on the s&p potentially? >> on 5% what are you, going to stay in a stock? you think our people watching at home, cd versus stock, right cd versus crowd strike, what do you think? cd versus intab. >> we

morgan stanley investment management is not morgan stanley investment bank but you do differ was mike wilsonho thinks there is probably a mother like much lower and we are reaching perhaps the last of the bear market rally. you think we have further to go in there is something more substantial? where do you guys disagree? do you say on opposite sides of the mushroom or do you hash it out and have an agree to disagree moment? >> mike is a good friend of mine. where i disagree with him this year is the earnings story. i saw -- i thought the earnings would come through strong this year and they have but he has been more right on the fed pivoting. i think he is going to directionally be right in terms of earnings are too high. and, the s&p cap. he may be more right but all i am saying is if you say are you bullish on the s&p cap, i am not all that confident on that. i just think there are a lot of others stocks from a stock picking standpoint. the outlook is very positive. i will let him call the s&p pathway. i do think he is going to be right on the earnings division but i just think if the fed

lisa: morgan stanley's mike wilson over the weekend basically was defending some of the hate mail thatwas getting on his projection that the s&p could fall to 3000 before going back to where it is right now. that is about a 24% decline from where we are now, and he basically said people are pushing back, saying you are crazy, and he is saying, look, you have to have some earnings pain as you can into a recession. tom: we have a wonderful guest coming up. i was thinking this week, i hope we can get dr. weinberg on. call weinberg will join soon. dow futures -79. the vix elevated, 23.95. stay with us. "bloomberg surveillance." ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to 60% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast

if you overlay the check over mike wilson's stock chat, there is not much difference. all of these people are looking for pivot somewhere along the path of 2023. that is something that is new. we used to just say where we're going to be, now or in this pivot in may or august. >> i think they really got this conversation going last week. >> you are next to me. the sequencing is important. you see signs of inflation roll over before you see signs of the economy get hammered. that window, it is optimistic for the meantime, and morgan stanley is essentially saying that window will shut in january. when you get the earnings, the q4, and he thinks they are not going to be too great. >> i think the analysis and pivoting in 2023 is complex, to say the least. >> agree. getting headlines out of poland. nothing suggests a missile hit worse than -- was an intentional attack. it was likely ukrainian air defense. no indication that the missile was launched from russia. the pickup on the headlines, coming right up. live from your, this is bloomberg. >> keep you up-to-date with news f

he pushed back against the mike wilson view we could see 3000 on the s&p.ng in the cards. tom: we will have to see. i get the feeling they are going to recalibrate. they are not going to be recalibrating on friday. lisa will on friday. attention -- please pay attention to bloomberg surveillance on friday. her guest for the entire surveillance, damian sassower hour, long overdue on emerging markets into next year. the markets, futures up 9%. vicks 22.43%. brent crude moving $1090. 88.58. good morning. ♪ what if you were a global bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create tom: good morning, everyone. lisa abramowicz and tom keene. sonali is set to be with us in the next hour or so. they a

i know that -- seems like mike wilson agrees with me.ou, steve leashman reported on this, don't sweat the program. we have autos going down, we have housing going down. we have some industrials going up, but we have technology in free fall. i think technology in free fall does matter because it's a big part of the stock market so don't sell until we see the whites of their eyes on the election come in wednesday and then let go of some technology. >> what did you make of mr. diller's comments. obviously he's seeing strength in the travel side of his business, something we talk about a lot, but also seeing weakness on the advertising front. but as he said, potentially that's usually the first mover and sometimes -- now i'm channelling jeremy segel, he would suggest to you, you know, this comes and then gets better pretty quickly >> well, that's what paramount said last week, so i have to agree with him i think that paramount was the one that said, this is the play right now because it can't be this bad say a year from now although they did

jonathan: mike wilson at 9:30 eastern time. we will catch up with him next week.th him. jonathan: he was leaning into the next rally and he was leaning into the bias around 4100. we are not far off. tom: he had the mother of all bear market calls and he nailed it, the turnaround. how does he do it? jonathan: the framework for the economy has worked better than most, just to understand where we are. they were calling for the v-shaped recovery in march and april in the market and they got it right. i think they had a tough year last year but this year, relatively much less constructive on the equity market. tom: futures are up 20. i looked at resistance and i will say 4045 on spx is where they break through. we are not there yet. jonathan: a .5%. this was fun, wasn't it? tom: where is my tang. jonathan: we will take a break from each other going into the weekend. live from new york city, this is bloomberg. ♪ lisa: keeping you up-to-date with the first word. the biden administration is sending ukraine more weapons and military vehicles valued at $400 million. the pac

. >> where is sternlicht >> how about mike wilson from morgan stanley he was bullish >> no recession? >> no. technical only looking at the support level he thinks things are going to be harder from here and he is still back into the bearish mode he said it is tougher. if you were listening to the conference calls for earnings from the companies cfos are reluctant to put numbers on things. >> they are very worried not because the current business >> that's true >> almost ironically, every conversation we had with somebody has been you know what my business is doing spectacularly, but i'm scared what will happen later. >> you prepare and you see layoffs. you see tightening of the belt and advertising slashed. >> we will have more unemployment probably come the spring the truth is -- >> it will not last forever. i don't need to worry about the grocery bills. i don't. i see them and i'm in shock. i do it myself $6 $7 bacon, $11. >> you are channelling every george bush today. >> not only do i not have to go to the checkout person, but everything is -- i just think -- >> the greedy corpora

that means mike mcdaniel where he most feared and jeff wilson junior will make their return to levi stadiumd some great moments in the red and gold. so it should be a good reception, think? well, where he most or had some interesting words for his own team this week. in an article for go long, td dot com for him said we have way better talent here. we have a quarterback who can actually slinging the rock. interesting now most are did the classic backtrack. he said in a tweet after that article was released, what clickbait not once did i dog jimmy g in my interview. did i praise our quarterback? one? yeah, i did. but i also throughout compliments to my former quarterback. but hey, let's leave that part out. i don't know expected. i mean, the proof was pretty much into putting with those he's been in the nfl long enough to know those quotes are going to make headlines. so we'll see what type of reception he gets next week as he comes into levi's stadium with jeff wilson junior and mike yeah, the dolphins really good this year. so should be a fun matchup. now let's switch gears once the raider

take the mike wilson . use that as evidence wilson. use that as evidence against them.ourse, people out quiet. and of course, people out there at the minute saying, oh, we're having a great time. they're treating fine. well, of course but we forget. course they will. but we forget. life go after the world life will go on after the world cup and people like gary lineker had chance to really up had a chance to really stand up , do something. but instead, he's over saying, well, he's over there saying, well, you i will about the you know, i will about it, the human but i'll i'm human rights, but i'll i'm taking of pounds still taking millions of pounds still . and there , you know, . and over there, you know, presenting it . so it's very presenting it. so it's very hypocritical. i'm angry about it. i did a piece yesterday saying, i think the footballers, wives and girlfriends mad to go out to qatar. i mean, they can't even take a selfie in case. it's in front of a national. they've got watch where they dress. they can't doing these can't, you know, doing all these other an

wilson just became the odd man out in a crowded backfield. he was good this year. red for 468 yards. couple touchdowns. dolphins head coach mikecdaniel, coach wilson with the niners and he knows wilson can rip through defenses number. 22 is not only happy to be a part of miami's offense, but also to be reunited with his surrogate, big brother, most some point. >> like nobody know. but when i wasn't drafted, he was the person. and that took me out to breakfast and said down and and explained everything to me and talk to me and told me what to expect, how to work. so before i even played a down before. i even knew who he was before. even knew who i was. you know me took me out to e bring me and game in a big brother feel. so that's the type person. he is everything's the same. you know, this is something been doing and that's something that i'm comfortable enough. so this very, very familiar to me and i'm excited to be in this offense. >> just my toes store yesterday. it's actually good this year and with football, baseball and the nba on action now, college hoops. >> it's just a few days away from starting up the gales of saint

wilson just became the odd man out in a crowded backfield. he was good this year. red for 468 yards. couple touchdowns. dolphins head coach mikecdaniel, coach wilson with the niners in the nose. wilson can rip through defenses number. 22 is not only happy to be a part of miami's offense, but also to be reunited with his surrogate, big brother, most excellent point. >> like nobody know. but when i wasn't drafted, he was the person. that took me out to berkshire down and explained everything to me and talk to me and told me what to expect, how to work. so before i even played a down before, i even knew who he was before even knew who i was. you know me took me out to e bring me and just >> gaming of big brother field and with football, baseball and the nba on action now, college hoops. it's just a few days away from starting up the gales of saint mary's. well, tough act to follow. they finished with a 26 8 record last year beating top-ranked gonzaga in february. saint mary's earned its highest ever seen in the ncaa tournament before getting knocked out by ucl a in the second round. this saint mary squad is deep but young and the

wilson jr. to miami for a fifth round draft pick. the dolphins coached by mikescheme, wilson averaged five yards per carry. with elijah mitchell on the brink of returning to the liners, he knew his playing time would be limited. >> we were not looking to move him. jeff had communicated with us in a fashion that of course he loved it here, but he also loves being an integral part of a football team. and seeing elisha close to returning, man, he wanted the opportunity to continue to be able to do that. >> miami loading up by acquiring a linebacker and chase edmonds. he is five and a half sacks this season and the edmonds moved the opening to acquire jeff wilson jr. from the 49ers. and a bit of a surprise in the world series. everybody figured the astros dominant team all you they will roll over philly but game three is 7-0 in philadelphia. this is game three, the phillies can take control. look out. >> we might have a series. >> catch bachelor in paradise followed by the rookie feds and the stay with us for abc7news at 11:00. >> we appreciate your time. have a goo

mike wilson is forecasting at a 20. -- a 24% drop from current levels.me of the downside he sees. i talked to someone previously about what she sees for corporate. she was talking about how some of the deep cyclicals have already priced in a really severe eps recession, whereas others, industrials amongst them, still might look a little bit expensive. i suppose there is that disconnect within europe. ksenia: absolutely, yes. some have done better than others. energy and minors have done better this year. there are more and more forecasts that energy eps will see a major contraction next year. the other sector to look at is banks, because they obviously benefit from higher rates and continue to be quite cheap rate down about 4% this year. another group of sectors to look at are the ones that benefit the most from china reopening, luxury stocks, industrials. one of the reasons the dax in germany has rallied so much is this optimism over china reopening, the economic boom it brings with it. let's see where it goes. it all really hinges on whether china is a

wilson to miami. the dolphins have mike mcdaniel mcdaniels as their head coach. reunion time.orld series game three. kate upton, smile. you are on tv. lance mccullers jr. on the mound. this is his worst nightmare. five home runs allowed. bryce harper gets the party started in the first inning. that was way out. second inning, two more homers coming. brandon marsh. this one barely clears the wall but it gives the phillies the lead. to the third inning we go. two more. kyle schwaber hi, deep, a low five bombs carrying the phillies to the wind. to the ice we go. sharks and ducks. that's cr karlsson had the hot k in this game. two of his goals game in the first. this is so weird. you never see this. trying to clear it, scores on his own net. they go to a shoot out sweet move. they win. sports on abc seven sponsored by sports on abc seven sponsored by river rock c ♪♪ ♪♪ ♪♪ get exclusive offers on select new volvo models. contact your volvo retailer to learn more. ♪music playing♪ ♪♪ ♪♪ ♪♪ ♪♪ nothing brings the pack together like a trip to great wolf lodge. now open in northern calif

wilson to miami. the dolphins have mike mcdaniel mcdaniels as their head coach. reunion time. for all involved. world series game three. kate upton, smile. you are on tv. lance mccullers jr. on the mound. this is his worst nightmare. five home runs allowed. bryce harper gets the party started in the first inning. that was way out. second inning, two more homers coming. brandon marsh. this one barely clears the wall but it gives the phillies the lead.to the third inning we go. two more. kyle schwaber hi, deep, a low five bombs carrying the phillies to the wind. to the ice we go. sharks and ducks. that's creative. erik karlsson had the hot trick in this game. two of his goals game in the first. this is so weird. you never see this. trying to clear it, scores on his own net. they go to a shoot out sweet move. they win. hey guys, detect this: they win. sports o living with hiv, i learned that i can stay undetectable with fewer medicines. that's why i switched to dovato. dovato is for some adults who are starting hiv-1 treatment or replacing their current hiv-1 regimen. detect this

wilson became the odd man out of a crowded backfield. he's good. read for 468 yards this season. couple touchdowns and the dolphins head coach mike mcdaniel. ose all about coatslwilson with the niners and he knows that jeff wilson junior, he can rip through defenses. 22 is not only happy to be a part of miami's offense but also to be reunited with his surrogate, big brother. most are. >> like nobody know. but when i wasn't drafted, he was the person. and that took me out to breakfast and said down and explained everything to me and talk to me and told me what to expect, how to work. so before i even played a down before, i even knew who he was before. even knew who i was. you know, me took me out to e bring me and just gaming of big brother feel. so that's the type person. he is everything's the same. you know, this is something i've been doing and something that i'm comfortable enough. so it's very, very familiar to me. and i'm excited to be in this offense. >> just my toes throughout. >> all right. got to be fun for those 2 to be back together. a baseball. the dusty baker let astro's are now one win away from a world series title. they to

wilson again, soon. no doubt, financing for your time. mike. earlier i spoke to joe old and he's also the conservative davy podcast. and he says that the western reaction to the incident, suppose his weakness in his leadership, they already had created a narrative and they didn't want to go back on that narrative. so instead of actually going back in the narrative, they said was, if russia wasn't in a place of aggression against ukraine than ukraine, never would a fire the rocket to kill 2 people in poland. so it's just kind of the circular ability for them to again spin truth into something that's or spin. it's been a lie to something that they create as the of the truth of the day. it shows the absurdity and the weakness of the people that are in leadership. there, there is a global est agenda. you have election systems across, across the world that are being influenced or you know, we're election stolen. so they're, they're selecting these people to be in these positions so they can be controlled by someone above them. know who that person a

but on sunday, they found some success with backup mike white who took over for the struggling zach wilsons and 3 touchdowns, leading the jets to a 31-10 victory over the chicago bears. new york improves to 7-4 with the win. >>> the man personified as zoro in the '90s thinks that tom holland should be the next to wear the mask. he's used to wearing masks. antonio banderas who starred in the mask of zoro and sequel the legend of zoro thinks his co-star should pick up the mask. he says that if he was called to do another movie he would pass the torch to tom holland. that does it here on "cnn newsroom." i'm bianca nobilo in london. "early start" with christine romans is coming up for you next. two new ihop lunch and dinner menu items for twice the goodness, twice the flavor, and twice the choice. sirloin salisbury steak and all-natural salmon. perfect for lunch or dinner. only at ihop. download the app and earn free food with every purchase. it makes it really easy and seamless pick an order print everything you need slap the label on ito the box and it's ready to go our cost for shipping, we

wilson in treating them to miami. will he be reunited with former offensive coordinator, mike mcdaniel and running back raheem mostert? defensive back, jimmie ward, unhappy with his current role on defense. he was moved from safety to cornerback when he returned from a hand injury two weeks ago, but ward is trying to make it work after meeting with kyle shanahan. >> i was like, when i met going to play? i said, i can do this and that. said, we will get you in there. i look back, be my contract, this and that, did they say they can do this to me, this and that, and nowhere in my contract does it say, they are just going to play safety. i said, follow the pride, put that sign on it. >>> the nba, former santa clara star, steve nash, out as nats' head coach after two plus seasons. the sides agreed to part ways. brooklyn is now trying to hire udoka to replace nash. a controversial choice. betty yu two, serving a season-long suspension for a relationship deemed improper with a former female employee. boston will let him out of his contract. >>> we are coming back. world series game three, astros-phillies. moving pictures on

. >> mike smith, thank you. rick wilson, i'm sorry for technical difficulties.ing up the baton. quick break for us. we'll be right back. l be right . ♪breeze driftin' on by...♪ ♪...you know how i feel.♪ you don't have to take... [coughing] ...copd sitting down. ♪it's a new dawn,...♪ ♪...it's a new day,♪ it's time to make a stand. ♪and i'm feelin' good.♪ start a new day with trelegy. no once-daily copd... ...medicine has the power to treat copd... ...in as many ways as trelegy. with three medicines in one inhaler,... ...trelegy makes breathing easier for a full 24 hours, improves lung function, and helps prevent future flare-ups. trelegy won't replace a rescue inhaler... ...for sudden breathing problems. tell your doctor if you have a heart condition or high blood pressure before taking it. do not take trelegy more than prescribed. trelegy may increase your risk of thrush, pneumonia, and osteoporosis. call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating,... ...vision changes, or eye pain occur. take a stand, and start a

mike, thank you. well let's bring in, i wick wilson, he's a former republican strategists. he's found at the lincoln projects, an anti chunk of public and political action committee joins live now from the united states at rick. a very welcome to the, to have you on the program in your field. why didn't the much touted red wave materialize? and i'm shocked. are republicans that results so far? sh to to answer the last question. first, republicans are in a state of shock and disbelief that is unrivalled in my 30 plus years of political experience. not even the election of barack obama left them in such a state of absolute disarray, chaos and self recrimination. the, the, the reasoning behind this. ready the this debacle for the republican party is, is very simple. most of the candidates that ran this year in state wide races either for u. s. senate, or for governor or for secretaries of state were either hand picked by donald trump . acceptable to donald trump or espouse the philosophies that donald trump has continued to repeat, particularly about a stolen election in 2020

this meeting, among others, former running backs raheem mostert and jeff wilson are now dolphins at the top of the head. coach mike four years as the 49ers run game coordinator than last year as their offensive coordinator before taking the job in miami quarterback to it. talk about the lower is one of the most dynamic young quarterbacks in the game, and he'll be facing the number one defense in the league. anybody who follows the 49ers no. you can't talk about their defense without talking about nick bosa. nick person has a pulse. you're concerned. if he, uh if he walks past you in the in the parking lot, you're concerned. he's he's one of the better players in the entire nfl. there's always going to be challenges and i'm excited to go ahead and have our have our team go against really quality players and, um, give her best shot and see what we got. the sharks tonight, playing the first of four on the road that will take them to three canadian cities. stop number one montreal just a minute and a half into the game the sharks got on the board alexander barbone off wraps around the goal when he's turned back. matt