is obviously an etf with 50 gold miners in it, two big ones are about 25% and i believe we got n newmont investment day coming next week. there will be a lot of information there. either way, having dropped 33% versus gold at 20, just stabilizing its footing this is a very a-symmetrical trade you're wrong it's going to muddle if you're right it could fly. >> as i was saying at the outset -- scottie, if you don't mind, i'm going to throw in here, carter was pointing out newmont will present next week, that's a material catalyst for gdx and gold miners, why, because it's the largest constituent by far with more than 15% of gdx if we get any material move in newmont it will translate into movement for correlated stocks and single constituent itself represents a material part of this index and would drive it higher. >> let's move from gold to green. morgan stanley reporting earnings next week with the other banks. tony saying the stock may see signs for a breather >> yeah, it's hard to bet against strong stock like morgan stanley but almost 55% move since the election, i think it's time for

tom palmer is the newmont president and ceo.mont is one of the world's biggest miners, the largest gold miner in the world. it also produces copper, zinc, amongst other things. thank you so much for tuning in to join us. alix is talking about copper and easy copper, what is happening in that market. you don't do that much copper, but am interested to get your take what you think -- to get your take, what you think about us getting to the point at which things are right stan. tom: i think this is a very good story to runabout gold. we have some nice exposure to copper. as we bring on a new project in peru that will produce some copper, we've got three very big projects that have a lot of copper in them. so for newmont by the end of this decade, we will have 15% to 20% of our metal will be copper, and i am pretty excited about having good exposure to copper at that time, when the world is going through the energy transition. we will make those investment decisions based on the view of the long-term outlook of copper. but i think c

if we get any kind of a material move in newmont, of course, just as a single constituent itself, it represents a material part of this index and would drive it higher >> let's move from gold to green. morgan stanley reporting earnings next week along with the other banks. tony jang saying this stock might be ready for a breather. >> after almost a 55% move since the election, i do think it's time for perhaps some of these banks to take a bit of a pause, especially as interest rates also take a bit of a pause here. if we look at the chart here, the stock looks fairly strong. it recent broke out above its $77 resistance level, came back to hold that as support, but momentum is starting to slow down here. and more importantly, if you look at more insanely relatives of the financial sector, it's starting to lose that relative strength here on the last move higher here. when you see this type of slowdown on momentum and relative strength going into an earnings event, that's a concern for me so, when i'm looking at the earnings here, over the past two quarters, you've had some very strong

aleppo one of the habitual newmont of our scheme all of. this of. course every hour when the man on the floor will be some of the. things unless you call. him uncle by the afraid to have the powder. up there with you have been month or missed more that is the sense that. you know what i'm seeing and how to really know what all come out about all accounts muscling to the who the muscle and girardeau missouri you. should be up and if you fall a little bit of a weapon at the mouth of a bull market let them alim a city. to a degree you. feel. that don't assume. the reality of the feat that we feel might be a defeat a cure for. the link and. that if you love only in the market of this way in the economic message again. yes the movie will push open them healthy food issues to the city and what was your strategy seemed to confirm that you knew. in fact if it was all it was to someone in the bathroom to do could resume did move the ball drop. not at all clear. i love the last. 3. doubt that me and. that made an appeal for bobby and it will be a month before

knowledge of the goal all movement on your film newmont least i knew him a little more for me the statue. was a little bit on the i didn't. call norful know full well meaning. only related to give me a little beatle portrait to put on clothes want you to know to look through but nigga don't mean a little daily beat the freeze did not treat a single neutral obviously not good lord well. no. good military some emo look. money all knowledge in the team will go did oh no you all don't we're not you not we all will be supporting you not you could cream penology so you'll need to not go nutty slug being. so nice to know on the show know what the. point of it was on national unity moet do you know julie i think what would you want to know if. did in your. old age appropriate you know team coco not meaning to get it going with that upbeat dance. with. with. with. hostility don't we had when you we're talking to some nice folks not far from the uk most what i'm going to. look for modoc we. came to some with. you and you may not need thought of me. to start a month and talk with some people called

newmont as well. is bitcoin the biggest threat?literally playing the music for us to stop talking. guy: ok, i will stop talking. guy: this is bloomberg. alix: this is bloomberg. ♪ ♪ alix: quick check on the markets an hour and a half into trading in the u.s.. we are seeing a shine come off the equity market. we are still positive by 0.2%. health care firmly in the red. tech rolling over despite killer numbers out of the likes of apple. consumer discretionary turning negative. you have yields moving higher, but still off the highs. it is really hard to understand what is going to be the next catalyst, if it is not going to be apple. guy: the markets are just going sideways. we will ask bilal hafeez of macro hive, can we keep tolerating? we will talk about that next -- can we keep accelerating? we will talk about that next. this is bloomberg. ♪ ♪ guy: from london, i'm guy johnson. alix steel is over in new york. we are counting you down to the european close on "bloomberg markets." german inflation breaking back above 2%. the country

that was tom palmer, newmont ceo and president. good morning.ramowicz, i'm jonathan ferro. tom keene will be back with us on monday. the 10 year to 1.643 7%. in the equity market, positive, the negative, down 27 on the s&p 500. down on the day by about 0.5%. euro-dollar down 0.3%. a negative gdp print against a much better u.s. read. relatively speaking, the story obvious through coup you want -- obvious through q1. $63.74 on wti. crude on the year up 31.47%. this line from goldman earlier in the week, "we see commodities rallying another 13.5% over the next six months, with oil reaching $80 a barrel and copper reaching $11,000, with risks to the upside." lisa: it is dramatic. you think about how this super cycle will be different because it is not being led by china. but this goes to the whole idea of disinflationary tilts. there was a story on the bloomberg today that copper, the fact it has risen so much, it does bring up the china is reducing their use of it. so how much is this supply/demand going to change based on the high sticker price?

look at some of the gold skokz newmont.ell. >> dollar was down about .8 of a percent this week which is helpful as well for gold thank you all for joining us here on a friday chris verrone, sylvia jablonsk sxichlt kourtney gibson. one manager says he's having trouble finding value in this market although there is one stock he likes right now he will name names plus, former federal reserve vice president alan blinder on how potential hikes in the capital gains and corporate tax thtes could impact the markets and e economy. we're black r back on "closing bell" in just 90 seconds at calvert we know responsible investing is hard. if you're concerned about the environment and climate change, how do you find companies that are driving the right outcomes? if you care about economic equality and social justice, which firms are addressing it in their workplaces and their communities? for nearly 40 years, calvert has delivered competitive returns by investing in companies making a difference because we see value in doing good. for mo