i hear merrill, i hear morgan stanley, new york stock exchange biggest customers liability cap on thiss unsubstantial, $500,000 a month. it doesn't really cover the amount of filings and complaints that are being, that are being flooded into the new york stock exchange. we should also point out that the brokerages new york stock exchange has not given me their side of the story. this is essentially from the major brokerages. they don't have much transparency here. now what does that mean? they know very little about exactly what went on. it looked like it was a fat finger, someone didn't press the button or -- liz: manuel issue? >> another one of these, you would think in era of computers it is not, you don't have to press the buttons, right? apparently not one of these fat finger things. a fat finger not pressing it or pressing it. having orders screwed up. i know you want wrap, let me get through this we talk about lots of money, a lots of controversy. a story that will probably play out over the next week or more and major clients of the new york stock exchange saying that their cli

remember it is not just sending order flow to the new york stock exchange. stock exchange is responsible for the prices of its listed stocks anywhere it trades. so even if 2 didn't trade on the floor, if it traded on nasdaq because you got better execution, that price was still a problem and so the new york stock exchange is on the hook for that. one reason, another reason, liz, why the exchange is mum, this is from sources close to the new york stock exchange, is that they do face a fairly serious inquiry from the securities & exchange commission. after the "flash crash" a few years back you know the sec implemented rules essentially to make sure, if you're an exchange you have the right technology, not to lead to that sort of an implosion. so they're looking at this mishap in the context of those new rules that the sec passed for better technology. so, again, the big board could be paying money, not only to the clients but to the sec if they were negligent in their technology or if this shows that there is some negligence in their technology yet. not that t

if i a swedish come people also listed on the new york stock exchange, the latest text to announce job because this is the story of a post panoramic downsizing definitely. and if you talk about the stock being traded here and at the new york stock exchange in the past 12 months, the stock prices down by about 50 percent. so then you can see that there has been some pressure for spotify in the past couple of months. the management itself will say that it might have been to, and vicious, and in the past, the too much investing, actually operating costs are about double the revenue of spotify. so that obviously is not a great combination. and therefore, we're seeing those jump cards that part of the story is that maybe all those digital companies that boon so much during the pandemic or not so much in favor any more as people spent their money elsewhere. but then also part of the story is that with all those rate increases from the federal reserve, for instance, money, it's become much more expensive for cooperation. so now they're starting to cut costs. ok ends quarter in new york for us

pandemic downsizing it evidently in durham, if you talk about the stock being traded here at the new york stock exchange at the past 12 months. the stock price is down by about them 50 percent, so they can see that there has been a some, a pressure for a spotify in the past couple of months. the management itself was saying that it might have been to ambitious in the pastor too much investing, actually, operating costs were about double the revenue of spot 5. so that obviously is not a great combination. therefore, we're seeing those job carts that part of the story is that may be all those digital companies that boom. so much, sir, during the pandemic, are not so much in favor any more as people are spent their money elsewhere. but then also part of the story is that was all those rate increases from the federal reserve. for instance, money. it's become much more expensive for cooperation. so now they're starting to cut costs. okay, ends quarter in new york for us. thank you very much. now croatians are getting used to being in the or his own. at the start of the year, croatia became the 20th country t

what gary gensler wants to do, all retail order flows get auctioned by new york stock exchange, nasdaqmakers like srrtu an sit is a dale. you go with that routed, new york stock exchange has issues with the auction process that auction process in this case cost a lot of money. they don't have the software to pull this off. so you're seeing essentially the glitch being used to thwart gary gensler's plan for redo of the entire stock market structure. so again, we are going to debate this for a while. it's a brewing story. we don't have exact numbers on how much money was actually lost by these brokers and their clients. you know, numbers i keep hearing are tens of millions of dollars. it is a big undercovered story i think. i don't understand why more people are not covering this. liz: they don't want to lose friends. i mean other business networkers coned on is ensconced. >> that is frightening. >> do you want your brows waxed? she is in the green room. >> do i need it? here is the thing, i don't take makeup, i don't dye my hair. i don't do botox. know what that means? know what that me

we're live at post nine of the new york stock exchange. futures a little wabbly here we have done the first batch of industrial q-4 results coming up in the next few hours, we're all over the earnings movers we vicinity views with raytheon, ge and union pacific all respective results and that's where we will begin a bunch of names we could start with 3-m this morning, jim >> i think a lot of companies are coming in hot. a lot of stocks. you take a 3 m and 3 m had been weaker it moved up. and now giving back that gain. and it's giving back the gain because when you talk to a ceo and he says, look, we're not satisfied with the progress or performance, its difficult for me to be satisfied they do have 2500 global manufacturing lay ofoff. i think 3m is atypical how bad it s organic growth, .4. you do a gap earnings thashgs d -- the cash flow is there this is something that mike wilson says don't, you know, you have to worry about the earnings and, boom, you have to worry >> rapid declines and consumer facing markets accelerated in december i t

very embarrassing, and i imagine a few people at the new york stock exchange had a very bad start.uy or gal in chicago had a pretty terrible tuesday or wednesday. how is it possible that a sophisticated exchange like this can come down and be hit by a single human error? >> that is exactly what regulators are going to be asking. they expect there to be redundancies, it sounds like the end of something which is pretty terrifying given the current reports. if just one person forgets that at the end of the workday. we will do whatever we can to make trip does not happen again, according to the stock exchange. tom: talking of regulators, this is a stories in the financial times, morgan stanley finding some of its bankers over convicting -- conducting business on whatsapp. have talked about how some of these regulators have been hit by fines by regulators and now we are seeing it hit on employees. >> you see a few instances of banks coming in and cut executive pay for this morgan and deutsche bank, but this seems to be much more widespread. bankers on the front line and they are seeing

exchange. we were three of the top five ipos that happened last year, the largest ipo of the year happened at the new york stocksful ipo. they're a very established business. when they came to market, the market was ready to absorb. i think ti think that actually o the value of being a public company and the value of the public company currency that still. maria: so we've been talking with a number of bankers this morning. i've been asking them to give us their sense of what a recovery looks like. and you said that you've been working with companies for a year. there are deals on the shelf right now that are going to come off. so global ipo activity down 45% in 2022. in the u.s., ipo activity fell to levels not seen since the financial crisis in 2008. do you see a recovery this year? and how long before we actually see things get back to normal? >> so the key metric that we look at is the volatility index and the volatility in the market. companies that we've been working with for in some cases more than a year are waiting for the uncertainty that's in the system to start to abate. so the volatility in the syst

boy did we have a busy wednesday morning. >> ringing the opening bell on new york stock exchange. were looking to ring a bell like that every morning at 7:00. >> nice to be with our colleagues there at the new york stock exchange. it was a real fun day for us. >> yeah. the funeral for pope benedict concluded a short time ago. tens of thousands gathero pay their respects. >>> out west, the powerful storm system, it is known as a bomb cyclone, it is hammering the west coast. it is causing widespread flooding, ergency rescues. we'll be right there live in the region and then dylan will have our fuorecas >>> in idaho, the suspect in the quadruple murder of four college students is in custody there. coming up, what we expect to learn later today about the evidence police have gathered to back up those charges. >>> we want to start in washington, d.c. there is still no speaker of the house. that stalemate within the republican party now reaching its third day, after gop leader kevin mccarthy lt a xth straight vote yesterday. but there is word this morning that mccarthy is set to make fu

look forward to everyone joining me, 4:00 eastern time down at the new york stock exchange. other calls and individual names i want to kick around with. the group, number one, estee lauder stephanie link, piper sandler says it's their best new idea. target goes to $290 and you own it >> i do own it and i do think that it looks expensive at $47 times forward, but if you think china is also troughing, which i do, that the stock is not nearly as expensive very strong brands, love the tom ford deal, 30% of their total revenues is in china and 25% travel so you've got to get those two pieces right i think 2023 sets up well for those to recover >> they like the tom ford deal, too. joey baird. yum and chipotle are their top 2023 picks you, of course, own chipotle >> i do. yum's interesting, as well seeing some momentum gather there positively, both fundamentally and technical i. >> what's your final trade >> i'm going to go with goldman sachs. >> ah, okay. interesting. stephanie link, your final >> johnson & johnson this is another company that is spinning off the consumer piece, b

liz: we are getting some headlines right now from the new york stock exchange regarding that technicalning bell today. stocks including everyone from altria, mastercard, mcdonald's, wal-mart, verizon they opened either well above or well below prior-day prices. most had to be halted immediately, so now the nyse just issued a statement saying it will consider marking the trades as abhorrent -- okay, sorry, what do you want from me? [laughter] and consolidated tape adjustments. those will be processed after the close today. there's some more details on that, because some of these stocks were unable to trade at a very crucial point, but i.c.e. right now for its part, shares are down can 2%. let's look at peloton, shares have been gasping for breath after uws said -- ubs says u.s. adoption levels of the digital app dropped this month. peloton down 5%. and by the way, the brokerage says active user numbers declined 13% in november and 9% in depress. december. separately, bayard cutting peloton and slicing off $2 for its price target. peloton at the moment is at just $11 and change. >>> lulu

simone: the new york stock exchange said some trades will be declared null and void after glitch causedd price swings and trading halts on hundreds of stocks. saying it started in yesterday's session. wells fargo and mcdonald's were affected. microsoft shares swung into the red in late trade after seeing revenue growth in its cloud computing business slow in the current period. the azure unit has been the biggest growth driver in recent years with a 38% jump in sales last quarter. total revenue growth of 2% in the second quarter was the slowest in six years. bank of america is rewarding the majority of its staff with a pool of restricted stock. the incentive which comes on top of regular compensation would go to employees who earn up to a half million dollars a year. bloomberg understands at around 96% of the workforce are eligible for this game. that is your bloomberg business flash. manus: coming up, dani burger talks to david hirschman. he sits down live at the private equity conference. this is bloomberg. ♪ manus: it's a tumultuous ride for private equity in 2022. driven by geopolit

this time dropping 12 percent on the new york stock exchange. it's yet more had news for a long mosques, car maker, which had a rough time last year. the value of the company's shares plummeted over 65 percent in 2022. the problem, at least in part, is that the company missed the expectations of investors. tesla sold 1300000 cars last year, more than ever before, but instead of 50 percent sales growth. sales increased by only 40 percent compared to the previous year. sale still went up, but investors worry. it could be the early signs of a slow down. meanwhile, reuters reports at the previous boss of teslas chinese operations. tom jew has been promoted to take care of the company's north american sales plants and distribution . a move that puts him 2nd only to elan himself. while we can hear more about this from yen quarter, who has more on this from new york? yes. tell us more about the reaction on wall street to tesla's results. it seems that they were quite disappointed. daniel, clearly invest stonewall today. not too heavy and the same is tru

we take a live look at the new york stock exchange. we are down about 223 points. si: the new cdc survey women are more likely to use medication to sleep than men. about 8% of adults report taking sleep medication and they find it is more common among women who are older or have a lower income level. experts warned that using these dedications can lead to dependence. previous studies have shown the risks of memory and concentration issues. san francisco zoo offering free admission on groundhog's day. all you have to do is make an environmentally friendly change in your life one example could be riding your bike instead of driving. as a thank you, the zoo will waive admission subway second. the zoo said groundhog day is not just about the superstition. it is also a metaphor that refers to the events or actions that recur over and over. so they think it is about making changes in your life for the better. apparently it is goodbye to the dating apps and hello to home depot. a tiktok trend has users searching for her future husband at home depot. one user said she heade

well, for more on this, let's bring and teddy austro, he's at the new york stock exchange for us now. teddy, hi, this is the 2nd price cut for testers. lower price models in 3 months. what did investors make of the news of this latest cut? well, chris, the investors aren't particularly happy. we saw the stock go down a little bit. however, investors haven't been particularly happy with tesla for the past several months. they are distrusting of tesla to really keep its market share of the e v. market to compete with all of these e v companies that are now springing up. but you know, it turned back to clock about a year and we are looking at fat profit margins. we are looking at a happy wall street. and now in 2022. what we are seeing is with the rising rates, with tesla, simply not meeting its sales targets, as well as the chaotic take over of twitter by you on must, which made investors fearful that he would divert his attention from tesla. what we're seeing now is investors, well, it's not a great start to the year for tesla to say it shortly. okay, so what i'm hearing is that just t

talked to, many triggers lost money but it caused disruption to their day and they look to the new york stock exchangenge values as a system that is put in place, has protections, and that they contrast it. this was a blip, it was a human error that really only happens handful of times if ever. now we have some answers of why it happened. the next step will be how is it going to be resolved. paul: alright, bloomberg's katherine doherty there with some answers, and a few more questions about that average on the new york stock exchange. united says getting the faa more resources is a top priority, after a recent system shutdown and industry issues. the ceo also told us hiring top talent is getting more expensive. >> a lot of dollars have been going up in the going to go up. united, we're at the top of the pyramid for pilots, for all employee groups. will always pay well. we have great growth opportunities. because of that, we are able to hire. the stress happening on the lower levels of the pyramid, for the low-cost carriers and regional airlines, they are having much bigger challenges. so if you are a

while for more on the cost of living, let's go now to young's corta at the new york stock exchange, yen us inflation figures out today. we're seeing 6.5 percent year on year in december. it's still too high, but it's looking much better than before. is it not? definitely, i mean, chris, the, the trend is your friend then to the yearly price increase of about $6.00 and a half percent was the lowest increase since october 2021. and if you look on a month to month basis and december and comparison to november, price is actually declined by point one percent. so that definitely is some, well come and use one of the main reasons why price pressure is using a bit is so the price of gasoline that alone dropped about 9 percent in december, but also a, he was caught, prices are down and then on and not so bright aside, food prices are still arising and then especially also shelter. it's incredibly expensive here in the united states. so we've seen a new 40 year hide at the end of last year. so not all is perfect, but at least the trend is right. okay, yeah, i'm hearing from you a mixed bag some,

cancelled in december due to price types of corresponding against corporate standing by on the new york stock exchange. with more on the latest reading from the service industry definitely was the big missing comparison to estimate that daniel ended does show that the monetary policy of the federal reserve making money much more expensive and a very aggressive fashion seem to be working. if you want to put it, that's the good it was sent. wall street also reacted in a quite a positive way. but what's good for what speed does not necessarily have to be good for the country on for the economy overall. because it does show that the us economy is cooling, even if the latest figures on the labor market that we got here on friday, we're thrill feel pretty robust, even if job growth is cooling a little bit. but the unemployment rate dropped from 3.7 to 3.5 percent and for the entire year of 2020 to the u. s. created about 4 and a half 1000000 jobs. there was the 2nd best. in the 40 jens caught that ukraine's power grid operator. you ran a go, has issued a fresh appeal to civilians to save electricity as much

well, for a rack of reaction, let's go to jens corta at the new york stock exchange now. now yes, we know that this space mission was a failure for britain's space ambitions, but, but virgin also got creamed on the stocks. how bad is this for the company? christie? i remember where we well, when morbid when public in the summer of 2021, they actually had a rocket launcher out on time square. so close to the next, the market side. the way the company started trading at about $10.00 a piece today. the stock is worth less than a 2 bucks them and the stock actually has never really taken off. so it is clearly a disappointment. it is a very competitive marketplace, launching those a satellite. so satellites on board as far as i've heard our last so it's definitely not a good day for or virgin orbit neither at the stock market, nor for the company in general. ok, well yeah, let's turn to our next story here. microsoft is in talks to invest $10000000000.00 in open a i, that's according to people familiar with the plan. the company's a shop. i can gather information, imitate huma

well, for more on this, we go out young quarter at the new york stock exchange. hi there again. now, goldman had been on a hiring spree just a few months ago into the pandemic recovery. what's changed since then? yeah, well chris is in, so david, tell him, i took over goldman good for years to go. employment actually has increased by a good 30 percent, especially if you look at 20202021. we saw an exploding ip market. a lot of companies came to the market. so we also got a lot of support from the government for consumers and for a company. so we did not see a lot of losses of credit. the people were able to pay their mortgages to all of that help and that might be changing. and now, so we see higher interest rates that makes it more difficult or actually the highest the debt blog for consumers also for companies that we will see if we will be higher delinquency rate. the banks are getting ready. they're putting money aside for possible credit losses. and that's why the entire environment that's got gotten a bit worse at this moment for bank. right. yeah. you're talking about the

the new york stock exchange for us. thank you very much. staying in the us on the government in washington is in the middle of an ambitious pushed towards green energy or key part of the plan in both switching to electric mobility. but the lithium needed for e v batteries is still in short supply at present. there's only one operating mind in the country and plans for new operations at the faca passes. it's go to the or a state of nevada have ignited a legal battle between indigenous people and the federal government, or put a stuff on simons visited the potential site. ah, believe it or not, this is the only major operational issue. mine can be nice. so the peak mine in nevada, so the peak is a so called drawing mind, lithium is drawn and extracted from brian that isn't a ground war. also involves a network of $22.00 con, spending 21 square miles and takes 18 to 24 months. at the end, there is lithium or white gold, as they call wagon get up to you know, between upwards of 8000 matter times an annual production. $8000.

cancelled in december due to price types of corresponding against corporate standing by on the new york stock exchange. with more on the latest reading from the service industry definitely was the big missing comparison to estimate that daniel ended does show that the monetary policy of the federal reserve making money much more expensive and a very aggressive fashion seem to be working. if you want to put it, that's the good it was sent. wall street also reacted in a quite positive way. but what's good for what speed does not necessarily have to be good for the country on for the economy overall. because it does show that the us economy is cooling, even if the latest figures on the labor market that we got here on friday, we're thrill feel pretty robust, even if job growth is cooling a little bit. but the unemployment rate dropped from 3.7 to 3.5 percent done for the entire year of 2020 to the u. s. created. about 4 and a half 1000000 jobs. there was the 2nd best thing. the 40 just caught that ukraine's power grid operator you ren ago, has issued a fresh appeal to civilians to save electricity as muc

also this morning, trade agent the new york stock exchange resumed after a technical issue halted trading. joining me now is morgan brennan. what can you tell us about the technical issue? what are some major findings in the earnings reports? >> it has been a busy day. let's start with the trading issue. dozens of stocks were affected. showing abnormally large moves. in some cases up. in some cases down. when the market opened. that triggered halts in trading. the new york stock exchange says it's investigating. things are back to normal for now. as for earnings, if there's one theme that's emerging this morning across companies, across industries, it is caution. plenty of cautious outlooks for 2023. that ranges from health care to weapons maker to railroad. i spoke to the ceo. he talked about uncertainty in the economy and what that will mean in terms of impact this year. after the bell, we do get microsoft. that is going to be closely watched not only because it is such a big name but also because it sets up what we can expect to hear from other tech giants in the coming days when they

bell getting started post nine at the new york stock exchange in a little bit speaking to star analystwhich might struggle after reports. we begin with our talk of the tape now what amp another cpi report shows inflation is cooling, fed still talking tough today bu

looking at a live look at the new york stock exchange, we are down about 100 points. kumasi: the oscar nominations have just been announced. reggie: actors riz ahmed allison williams hosted the ceremony this morning. >> angela bassett in black panther: wakanda for kumasi: that is all you need to know. reggie: we are done. clearly we have a bias. we loved her performance in perhaps the academy will, too. then again everything everywhere some pretty great actors as well. they lead the oscar nominations with 11 including michelle yeoh. plus best picture, disney's avatar, the way of water, top gun: maverick, elvis. disney is the parent company of abc 7. kumasi: i've not watched any of these. reggie: can we give some love to pixar? they live here. turning red is nominated for best animated feature. i did not want to let that go. kumasi: we have -- drew: friends there. reggie: shout out to you all. that was really cute movie. drew: embryonic got nominated for her song. -- and rihanna -- nominated for her song. where is she and lady gaga will perform at the oscars. she could

kumasi: the new york stock exchange, up by about 60 points right now.wing you might want to take it easy when you are eating bacon. and stay with us on the bay area streaming app at 7:00 for abc7 at 7:00 a.m. you can download the app now and watches wherever you stream. drew:hiy our wsd 30's. some areas will have frost first thing. especially in our colder cities. and it is a dry start to the day. showers are returning to the forecast this evening. and a little bit of sunshine this money giving way to clouds and temperatures in the low to mid 50's. this is our next storm. it is a fast-moving cold front. it will swing through here this evening. most of us will see some rain between 5:00 p.m. and at 10:00 p.m. tonight. clouds will be getting thick this morning. in the evening, here is the front moving through the north bay. finance copy m, it is over san francisco. approaching the south bay by 11:00 p.m. then it will be out of tomorrow, we returned to drier conditions and rainfall totals will be less than a half-inch from this light storm. and rain this e

it's as if goldman or citibank owned the new york stock exchange. >> by calling for the specific divesing a breakup than would have been anticipated. have we seen something like this play out before? >> in the antitrust space, we say if there hadn't been an antitrust investigation and enforcement action against microsoft more than 20 years ago, there wouldn't be a google and there wouldn't be a facebook or amazon. >> easy to say and harder to prove it when it comes to evidence and what you expect you're going to provide to sway the court, so to speak, to your side. for example, they say your claims that publishers are required to use their ad server to access the ad exchange is untrue and you have no evidence to back it up. what do you see as evidence? >> we have an enormous trove of evidence it's really google's own documents. as this proceeds, we'll continue to talk more about what google says about itself, about how it dominates this market, about how it shuts out competitors it gets more than 30 cents per dollar of advertising dollar on the internet because of its dominance, becaus

maria: interesting a surprise to be when i go on wall street new york stock exchange all residential right now. >> yes. maria: you think that is going to happen even in office buildings uptown. >> it has got to happen no one is going to move into buildings beautiful buildings, green -- >> still working from home? >> no, you need to incent employees to come back we er renovating offices want beautiful places want to come back, i think this is an opportunity, tol for low-income housing they have to invest tough for local governments to stop talking green start talkings houses talk is expensive, expensive talk, you want no income housing you are going to have green low-income housing? . >> what are you doing on esg. >> you back, new buildings, as example that have done correctly get high rents they do high rents, you need certified building how you change an old building going to change windows? really? no way, not happening. maria: great to get your take he thanks so much good to see you, you've been talking a lot with voice getting horse. >> talk in davos this is davos voice right her

mention, went on to other exchange venues and those were affected as well because of the new york stock exchangeriti: something that we will be keeping an eye on. katherine, thank you. john, we have to talk about this market action. the s&p 500 is in the green, the nasdaq is outperforming. a complete turnaround from what we saw earlier in the day. i can't quite make sense of it. is it all earnings? is some of it eco-data? what do you think? jon: today you had a soft landing scenario playing out in the first minutes of the day with a positive reaction reminding us that while we are watching for peak inflation and fed pivots, the idea of growth hanging in there is a story line for 2023. kriti: certainly something we will keep an eye on if it holds to the end of the trading day. stick with us. this is bloomberg. ♪ 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 ac