hi, i'm ozwald. hello ozwald.loomberg markets. let's get to our stock of the hour. it is the ridesharing app lyft adding a new tool for riders, pre-booking a car from the airport to wherever they are going. lyft is officially discontinuing shared rides, and option uber is doubling down on. we want to bring in ceo david risher, new ceo as well as bloomberg technology cohost caroline hyde. thank you for joining us. let me start by asking about the feature change. a little shakeup or the lyft app. do you expect this to help you gain market share from uber and can you quantify what kind of gains you are expecting? david: good question. we just launched a new set of features yesterday that are all about making travelers lives easier. it is summer travel season. everyone is out and about. some call it revenge travel. now, it is super revenge. i do not know. when you go to the airport, here is what happens. first of all, what time do i leave, how bad is traffic going to get? my wife and me have this argument over and ove

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hi, i'm ozwald. hello ozwald.o say it. ♪♪ these days, our households depend on the internet more and more. families grow, houses get smarter, and our demands on the internet increase. that's why we just boosted speeds for over 20 million xfinity customers, on us. so you get more of the speed you need for day and night streaming. more speed you need when you're work from homeing. and more speed you need as your family keeps growing. check in on your current speed through the xfinity app or upgrade to the speed that's right for you today. francine: the climate crisis is spoken about in terms of facts and figures.

hi, i'm ozwald. hello ozwald.a rock- i wasn't going to say it. ♪♪ >> this is "bloomberg surveillance: early edition with francine lacqua. >>

hi, i'm ozwald. hello ozwald.- i wasn't going to say it. ♪♪ fabulous surroundings... but everyone's looking at their phones for financial insights from merrill. is he hailing a ride to the concert hall? no. he's making sure his portfolio and retirement plans work in harmony. they want to adopt a child and build a new home. so they're talking numbers with their merrill adviser. she's not researching her next role. she's learning how to handle market ups and downs without the drama. personalized advice so impressive your money never stops working for you with merrill. a bank of america company. >> this is bloomberg markets. the superintendent joined bloomberg tv at 2: 30 new york time. this is bloomberg. keeping you up-to-date with news from around the world, here is the first word. the kremlin says russian forces are battling attackers who crossed the border from ukraine. it is the second such incursion reported by moscow in two months. kremlin spokesman said they received reports about the attack by ukrainian sabo

hi, i'm ozwald. hello ozwald.rock- i wasn't going to say it. ♪♪ >> this is "bloomberg surveillance: early edition" with francine lacqua. francine: good morning everyone. here's what's coming up on this program. joe biden and kevin mccarthy step up lobbying efforts in cng

hi, i'm ozwald. hello ozwald.am, you are a rock- i wasn't going to say it. ♪♪ matt: this is bloomberg markets. blackstone is talking to a number of regional banks in the u.s. about buying assets, according to steve schwarzman, the ceo, who spoke with bloomberg's francine lacqua at the qatar economic forum earlier today. steve: we are very large in terms of providing credit act blackstone, and we call it a golden age for our credit business and we are having conversations with a number of regional banks because we are interested in buying assets that they create, and we are looking at partnerships because they are worried about how many assets it takes to run their balance sheet. as a result, we are natural partners. we can help them and they can help us and our needs for investments. what i would say in the first part of your question is that the pressure on those regional banks will not just come from orchids -- markets, it will come from regulators. that will make them less apt to provide and they are from impor

hi, i'm ozwald. hello ozwald.♪ ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) -awww. -awww. -awww. -nope. ( ♪♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall. matt: i am matt miller with jon erlichman. people are still buying twinkies, dingdong, and the honey bun. hostess brand is trading higher today, actually just now moving lower. it had been higher this morning. it beat earnings estimates. net revenue was higher than anticipated and so was the gross margin. joining us to talk about this is the ceo of hostess, andy callahan. looks like the stock is now trading off. maybe some investors taking profit. give us the overview on your earnings report. andy: we had a very strong earnings coming off a year ago, up 25%. on a two year basis, we have grown nearly 29%. in the last 12 years, we have a 12% category growth rate. our profitability continues to be strong. we have some leading margins in food and are growing faster than most. we are a p

hi, i'm ozwald. hello ozwald. you are a rock- i wasn't going to say it. ♪♪ dani: let's get your first word news. with that is adrian wong in hong kong. adrian: a new york jury found donald trump for sexually assaulting writer e. jean carroll. the court ordered the former president to pay $5 million in damages after the acute that she accused -- after she accused him of raping her in the 1990's. he called the verdict a political hit job. pakistani opposition leader imran khan will appear at a anti-craft tribunal, after his dramatic arrest spark classes across the country. he was taken into custody in a case involving a land deal. four were killed and 20 people injured in fighting. tony blair has told bloomberg, the west shouldn't attempt to decouple from china. he says it is important to remain engaged with the world's second-largest economy. >> china is by reason of his civilization, its population, its technology and economy. it's going to be a big world power. the question is how we live with that in a changing

hi, i'm ozwald. hello ozwald. give it up for pam., you are a rock- [silence] i wasn't going to say it. ♪♪ >>> welcome back take a look at c3.ai, surging on better than expected preliminary results, saying it is seeing the most active environment for enterprise ai since the company's inception. the company had a short april ride after alleged accounting issues president the company joining us to talk about this in a cnbc exclusive, c3.ai ceo tom siebel good morning. >> good morning. >> first of all, why did you preannounce today? >> as can imagine, we're doing a lot of fiscal planning for '24 and '25 and planning for new products, new customers, and increased growth and so as the word continues to get out in our planning phase, we wanted to avoid even the possibility of an inadvertent selective disclosure, so we wanted to make sure this was announced to the market in a manner consistent with regulatory requirements. >> you've had a lot of good news in there on track for nongap profitability for your target. revenue higher than you're

hi, i'm ozwald. hello ozwald., you are a rock- i wasn't going to say it. ♪♪ alix: we had a lot of breaking news for you over the last hour. we want to update you with where we are the debt ceiling. senator mitch mcconnell, tweeting only by item mccarthy are the ones that can reach an agreement on a debt deal. it is time for the white house to get serious on negotiations. this, as the gop walks out of the negotiation table today saying the white house is not serious today. stocks are heavier. guy: the president is on the other side of the world, in a different time zone. alix: he is a sleep. [laughter] guy: he cannot respond to this. this feels political to me. obviously, this was going to be in negotiation. the timing feels questionable, or at least interesting. it has been a busy afternoon, a busy morning from your perspective. jay powell plays a big part in what is happening here. we are going to have to wait till sunday night for the president to come back. i want to flag, keep an eye on this italy thing. moody

hi, i'm ozwald. hello ozwald.u are a rock- i wasn't going to say it. ♪♪ dani: it is all about ai these days and it is providing a powerful tailwind for the nasdaq. they broke into fresh year to date highs. look at nvidia itself. railing 113% year to date. here with is valerie tytel. it feels like this is the only thing people have any conviction about these days. valerie: that is for sure. this bigot catch-up trade has really seen the nasdaq outperform. the macro backdrop to which it is outperforming is surprising. nasdaq has rallied 5% in the last 10 sessions. that is despite two year yields rising 30 basis points. in fact, when we look at the correlation between two-year yields and the nasdaq, it is the most positively correlated in three years. that goes to show this is really not normally the backdrop to which tech rallies so strongly. to add to that, this is also happening as the dollar is a strengthening. those are normally too big i don't want to say tailwinds but in verse tailwinds that tech normally does

hi, i'm ozwald. hello ozwald. give it up for pam.e a rock- [silence] i wasn't going to say it. ♪♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ >>> the writers' strike is rippling through hollywood, as you know we talked to emmy award winning legend henry winkler about the strike and the impact of ai on negotiations ahead of the "barry" season finale on hbo >> there are people who think that they have to participate when they don't quite understand the process in the same way that the creator writers do the writers striking, they are really the beginning, they're the heartbeat of every project that we do >> i wonder if you think ai is the real x factor in this particular round >> i will say that no matter how good ai is, it scares me more than it doesn't. we're telling you in stories when you connect with somebody it's because they identify with your humanness, with what they're seeing, what they're hearing

hi, i'm ozwald. hello ozwald. give it up for pam.you are a rock- [silence] i wasn't going to say it. ♪♪ >>> all the buzz today on the writers' strike in hollywood as late night and other television production shuts down with thousands of wga members joining the picket line. a couple days ago we spoke with the writers and co-creators of the hbo series "white house plumbers" which premiered last night, by the way, on the challenges today show writers are facing >> the industry has changed seismically but we're getting paid the way we used to get paid in 1975. and so they have to figure out a new mode of compensation >> i just remain very hopeful that cooler heads prevail because i think everyone on both sides wants a resolution that respects the writers, that keeps everyone working we're all keeping all of our fingers crossed that very smart people in these rooms figure things out >> sara, it wasn't long ago that revenue sharing from the streaming model was considered the new innovation the unions needed to hammer out with the studios.

hi, i'm ozwald. hello ozwald.ng to say it. ♪♪ yvonne: checking oil prices here brent crude up 1%, brent as well. cup and continues to be the big one, we briefly touch below 8000. saudi arabia's top energy official issues a warning to oil speculators just ahead of a june opec meeting. >> we are dealing with such a volatile situation. almost all of them have been created for nothing we have had anything to do with. however, we have to deal with it in a way where we do not lose sight of our future trajectory. it is unfortunate that we have to be vigilant, we have to be proactive as we have been saying for quite some time. the message i would like to bring is that the whole world needs not to forget that we have a future and we should be brave enough, courageous enough to attend to that future without continuing the so-called kicking the can policies, those policies that may allow us to fend the situation for this month or next month, but with that we are losing sight of our intentions and our objectives. >> you have

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hi, i'm ozwald. hello ozwald.ck- i wasn't going to say it. ♪♪ haslinda: the g7 leaders summit is underway in japan, said to increase pressures against russia as well as finding united stance on china. stephen engle joins us from hiroshima to bring us the latest. you heard the ukrainian president may be joining as well. stephen: there has been a lot of speculation about whether zelenskyy would commonly person. bloomberg news is confirming through anonymous surface -- resources that he is on his way. he would be participating in person in hiroshima in last-minute added sessions on ukraine on sunday. again, we have not gotten official confirmation from the host country, being japan, but the speculation and sources are telling us that zelenskyy is going to be here at the g7. again, that will help punctuate the g7's unity on some of the sanctions and tightening of sanctions and adding of new sanctions against russia and its ability to wage war in ukraine. now, bloomberg news is also learning from sources that the g7 ha

hi, i'm ozwald. hello ozwald.mate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh rishaad: the hang seng briefly turned positive, but that is not the case as we head towards lunch in 10 minutes. about 0.5% to the downside. looking at h shares adding a lot of drag. the tech side doing well. alibaba and baidu with stellar earnings, and tencent reporting later on today, at the moment also gaining as a result. we got a nikkei 0.8% higher. the topix clinging on, gaining ground as well at levels we haven't seen since august of 1990. let's turn to this growing reliance on air conditioners. designed to cope with what is happening in india because of this scorching heat. it raises concerns about the impact these appliances have on the planet. india recorded five times the number of heatwave days in 2022 compared to the previous year. annual household incomes are increasing and people can afford to buy acs to beat the heat. >> india's summer heat is bri

hi, i'm ozwald. hello ozwald. pam, you are a rock- i wasn't going to say it. ♪♪ wake up, achievers.ng the most of every hour of your life. except the hours that you're sleeping. so why do we leave so much untapped potential on the table? this is a next level bed, for a next level you. my circadian rhythm is kicking your circadian rhythm's butt! it's not a competition. i know, but i'm still winning! so, it is a competition. of course. save 50% on the sleep number limited edition smart bed. plus, free home delivery when you add an adjustable base. only at sleep number. rishaad: we are looking at slightly upside here in hong kong. seeing perhaps a bit of a move for the futures contracts or the s&p and the nasdaq just moments ago not exactly positive sentiment. southeast asia singapore looking down as well. the kospi off by .5%. let's take a looking at finance chiefs who have been meeting in japan. the g7 finance ministers presenting a united front with more support for ukraine. the plan to diversify supply chains and fill gaps in international relations. stephen engle is our chief nort

hi, i'm ozwald. hello ozwald. pam, you are a rock- i wasn't going to say it. ♪♪ yvonne: u.s.onal security advisor for international economic affairs says the republicans are playing a risky game in the debt ceiling drama. he also talked about america's trade ties with china in an exclusive conversation with bloomberg's annmarie hordern. >> the president has made clear for a number of weeks now that congress has time to and needs to act to lift the debt ceiling. what i would say is for the past couple of days, what we have seen from this display is american leadership, whether that is leading on delivering a tough new sanctions package against russia, whether that is leading around providing a common approach on china to the clean energy transition and an approach to the global south and development, these are all demonstrations of american leadership. republicans would put that at risk with their debt ceiling negotiation, putting us at risk of default, putting us at risk of delivering on sanctions programs. that is what is at risk with republicans playing games around the deb

hi, i'm ozwald. hello ozwald.oing to say it. ♪♪ >>> welcome back to "squawk on the street." we are live at cnbc's inaugural ceo council summit on the west coast in santa barbara, talking to leaders across business, finance, culture, and academia a lot of big topics will be covered the next couple of days, including the nation's debt, obviously, ai revolution, relations with china and we'll give you sound we got with john lonahue of nike. a t more "squawk on the street" continues after this stay with us what do you see on the horizon? uncertainty? or opportunity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. >>> good tuesday morning i'm sara eisen with carl quintanilla live from santa barbara california at the ceo inaugural council summit coming up, indicate i can koch

did ozwald act alone? was it was astro? the russians?o get definitive answers from the warren commission but, citizen instead, we have been left with more questions. jfk jr. says he knows who rubbed out his uncle he says it's the cia. >> there is a 60 year cover-up. the warren commission was run by allen dulles who was the head of the cia who my uncle fired and kept this evidence from the warren commissioners. either way, when congress 10 years later investigated the crime with much more evidence than the warren commission had at its disposal they found yeah it was a plot. most people believe it was the cia was that behind it because the evidence was so overwhelming to them. >> jesse: it's a 60-year cover-up, he says. the warren commission was supposed to get answers to find out if the cia was involved. and bobby's first assumption was if the fired cia director allen dulles was behind it. so, the cia assassinated kennedy theory goes like this. former cia director allen dulles was behind the operation. dulles was eisenhower's cia director

hi, i'm ozwald. hello ozwald. give it up for pam.re a rock- [silence] i wasn't going to say it. ♪♪ doors can take us to new adventures and long-term goals. your dedicated fidelity advisor can help you open those doors. by helping you create a comprehensive wealth plan, with the right balance of risk and reward. doors were meant to be opened. ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ >>> welcome back, got about seven minutes before we get started, final trading session of the week. thank you, friday, let's get to a mad dash talk about the largest market cap company on the planet, i believe. >> right, bigger than whole countries' markets. >> correct. >> new doing a piece, very thoughtful piece about how to value apple, and the major problem with valuing apple is that if you speak to tim cohen, he really rebels at the notion he's running a consumer packaged goods company, it's not crest, it's a tegnology co

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hi, i'm ozwald. hello ozwald.e horizon? uncertainty? or opportunity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. (funky electronic music) (narrator) breathe in. jump in. strap in. live in. join in. thrive in. if you're all in, it's all in north carolina. ranked america's top state for business. (funky electronic music) (narrator) invest in. believe in. move in. grow in. build in. thrive in. all in north carolina. ranked america's top state for business. >>> a little more than a half hour before the opening bell sylvia jablonski joining us. thanks for joining us. i'm going to say it this way, sylvia, many eyes, not all eyes. some people have no idea that these guys are meeting -- these leaders and president biden are meeting, but many eyes do know that are you watchi

hi, i'm ozwald. hello ozwald.♪ tom: tom: good morning. thank you so much for the response today. we are having fun on a friday before the celebration of memorial day, the remembrances of memorial day. the celebration in the market is simple. futures doing better through the early trading. you have to believe smaller trading today. the vix 18.52. there are two bloomberg strains of economic data through the morning with the michigan coming up later. michael mckee has the task of looking through 20 items in four pages of data behind each of those 20 items. what do you see? -durable goods orders are out right now but we do not have income numbers yet because everybody is hitting internet at the same time. personal income for percent -- .4% better than .3% last month and it matches the estimate. spending stronger than anticipated up .8% compared with flat reading in march. pce deflator. the fed is watching. it is stronger. .4% up from .1% and stronger than the consensus forecast. it puts us at 4.4% for the headline num

hi, i'm ozwald. hello ozwald.you are a rock- i wasn't going to say it. ♪♪ when i was his age, we had to be inside to watch live sports. but with xfinity, we get the fastest mobile service and can stream down the street or around the block! hey, can you be less sister, more car? all right, let's get this over with. switch to xfinity mobile and get the best price for 2 lines of unlimited. just $30 a line per month. i should get paid more for this. you get paid when you win. from xfinity. home of the 10g network. bridgett is here. she has no clue that i'm here. she has no clue who's in the helmet. are you ready? -i'm ready! alright. xfinity rewards creates experiences big and small, and once-in-a-lifetime. jonathan: getting you to the weekend with equity markets voice for another morning of gains potentially on the s&p 500. s&p 500 yesterday having a look at 4200 on the s&p. at the close short of that level but ultimately at the highs of the year. the bumpy road to nowhere as a starting to go somewhere? in the bond m

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hi, i'm ozwald. hello ozwald.ay it. ♪♪ >> the recovery has been stronger than expected. indian demand is also robust. we are also seeing demand in the middle east. this is contrasted with the economic gloom and concerns we are saying for the world economy for national activity and especially in -- where demand has been a week. jonathan: is difficult to reconcile those comments with what we saw in the data overnight from china which looked much weaker than expected . they are talking about oil demand specifically better than expected. crude at the moment, wti, up and on brent. 70 5.35 on the day. wti, $71 per burial -- per barrel. jonathan: this is -- tom: this is like the debt ceiling. jonathan: u.s. is preparing to buy three millions of barrels to refill is depleted petroleum reserve. they sold $200 million last year -- $3 million is a start. jonathan: does the german have a strategic petroleum reserve? jonathan: i don't know. i am sure our next guest does. tom: on china's slowdown, one thing that intrigued me wa

hi, i'm ozwald. hello ozwald.it. ♪♪ there needs to be market pressure. without that market signal and makes it hard for mccarthy to go to the holdouts who were holding him hostage and say it is time to do a temporary left of the debt ceiling to get us through and give us some space to negotiate so that nobody loses face. jonathan: we are playing chicken with the s&p 500 in washington dc. here in new york city your equity market is not blinking yet. -.3%. your futures are down a basis point. 3.99 on the two year yield. the next stop on the data front, cpi is coming up tomorrow morning. and then onto ppi after that. plenty of fed speak in between. at 4:00 p.m. a conversation between the president and senate leadership. terry, you said we can expect some non-meaningful platitudes. anything other than that? terry: i think you will get those platitudes without saying that they will not default. they will say they don't want to. but they will harden their positions. biden's position has always been , you can't cut spend

hi, i'm ozwald. hello ozwald., you are a rock- i wasn't going to say it. ♪♪ millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, get the best price for two lines of unlimited. just $30 per line. there are millions of happy campers out there. and this is the perfect time to join them... save hundreds a year over t-mobile, at&t and verizon. and get the best price for 2 lines of unlimted. visit xfinitymobile.com today. >>> a lot of things that could happen in the present situation. depositors will not lose money stockholders and debt holders should lose money. the people who borrowed out on commercial real estate and now the loans are not extended, they should leave it's too bad it is part of borrowing on 100% margin which is what people were doing in customers rommercial r. they took risks they shouldn't have taken it needs to fall on them >> that was warren buffett speaking at th

hi, i'm ozwald. hello ozwald.y it. ♪♪ (water splashing) hey, dad... hum... what's the ocean like? ♪ are there animals living underwater? ♪ is the ocean warm? yeah, it can be very warm. ♪ you were made to remember some days forever. we were made to help you find the best way there. ♪ >>> welcome back to "squawk box," some key erarnings this morning, walmart autoout with results, raised its full-year forecast of second quarter earnings guidance that was a little shy of the street walmart's cfo telling cnbc that while the company sees some strain on the consumer, it's been surprised by the consumer's resilience >> some new comments just out from dallas fed president laurie logan. prepared remarks for a speech today, she says that the current economic data points so far don't justify skipping a rate hike in june she said that the data in the coming weeks could yet show that it is appropriate to skip a meeting, but she says as of today, we just aren't there yet. logan, by the way, is a voting member of the fomc check o

hi, i'm ozwald. hello ozwald. >> there is no way to protect our financial system and our economy other than congress doing its job and raising the debt ceiling and enabling us to pay our bills. we should not get to the point where we need to consider whether the president can go on issuing debt. this would be a constitutional crisis. jonathan: that was janet yellen speaking on abc over the weekend. congress has a job, her message is to get it done. from new york city, good morning. here is the price action. positive .2%. to build on the gains from friday, and decent gains they were off the back of a strong payrolls report, pushing two year yields higher. the follow-through positive on futures. yields higher on the 10 year by a couple of basis points. the euro did absolutely nothing last week. 1.1049 on the euro against the dollar. the poll we have been talking about, here are the details. washington post abc news poll showing the president lagging trump in early voter preferences. the percentage of those approving

hi, i'm ozwald. hello ozwald. it. ♪♪ we moved out of the city so our little sophie could appreciate nature. but then he got us t-mobile home internet. i was just trying to improve our signal, so some of the trees had to go. i might've taken it a step too far. (chainsaw revs) (tree crashes) (chainsaw continues) (daughter screams) let's pretend for a second that you didn't let down your entire family. what would that reality look like? well i guess i would've gotten us xfinity... and we'd have a better view. do you need mulch? what, we have a ton of mulch. >> the economy has proven to be resilient. >> central banks around the globe trying to fight inflation. >> is not going to make a big difference to the economy if the fed hikes in june or waits in june and hike later on. >> we are seeing the lags lay out. inflation decelerate. >> recession is still unavoidable. >> this is "bloomberg surveillance.". tom: good morning per year -- good morning, everyone. that was a great debate there. i hope he saw that in the last h

hi, i'm ozwald. hello ozwald.use they saw how cancer adapts to different oxygen levels and starved it. i am here because they switched off egfr gene mutation and stopped the growth of tumor cells. there's a place that's making one advanced cancer discovery after another for 75 years. i am here... i am here.... because of dana-farber. what we do here changes lives everywhere. i am here. . >>> welcome back to "squawk box. futures have firmed up in the last little while. s&p 500 barely green the nasdaq up five points. >> artificial intelligence has been one of the biggest themes throughout earning seasons is is his first televisiony' y reported first quarter results last of a very strong future slate of games i think that's the headline here, strauss. thanks for coming in today >> thanks for having me. good to be here. >> this is huge news you're not someone big on thee at trubs or big on hyperbole but last week you said you're going to be looking at more than $8 billion in revenue next year for gains and that's 45%

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hi, i'm ozwald. hello ozwald.his age, we had to be inside to watch live sports. but with xfinity, we get the fastest mobile service and can stream down the street or around the block! hey, can you be less sister, more car? all right, let's get this over with. switch to xfinity mobile and get the best price for 2 lines of unlimited. just $30 a line per month. i should get paid more for this. you get paid when you win. from xfinity. home of the 10g network. jonathan: whatever happened to the month of may? closing out the month with good gains for nasdaq. figure weakness counting you down to the opening bell. the countdown starts right now. >> debriefing you need to get set for the start of u.s. trading, this is bloomberg: the open with jonathan ferro. jonathan: live from new york, debt limit deal headed for a

hi, i'm ozwald. hello ozwald.g) hey, dad... hum... what's the ocean like? ♪ are there animals living underwater? ♪ is the ocean warm? yeah, it can be very warm. ♪ you were made to remember some days forever. we were made to help you find the best way there. ♪ >>> welcome back fu futures are positive across the board, s&p up about 14 it's flat for the week but we did see news around consumer and producer price inflation data over the past couple of days we're right now looking at the fractional loss on inflation >> we heard comments for remarks at the european central bank in germany. >> in another businesses, soft bank may try to launch an ipo of chip designer arm in the u.s. as soon as september. bloomberg reports the share sale could raise as much as $10 billion. facebook parent meta announcing new a.i. powered services to help advertisers improve campaign results we'll talk to whatever the hell it is, budweiser including tools focused on texts and images companies got a chance to test what meta called its a.i.

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hi, i'm ozwald. hello ozwald.awk box," we are live from omaha, nebraska, ahead of the berkshire hathaway annual meeting this weekend. we want to bring in the chairman and ceo of gamco investors, and mario, we get to see you here every year i know that you are a long-term guy. i know that you tend to look at companies, not necessarily company fundamentals and not necessarily the big picture, but there's some really weird stuff happening in the big picture right now, and i can't imagine it's not factoring its way into how you think about things >> clearly, one has to think about how the banks could break an old philosophy. what buffett does, what he did, is he gets his float, i pay him for my insurance, and then he doesn't have to pay me for three or four years. the other guys take my deposits and lend very long rule 101 it's a challenge, and then they have -- >> so, insurance is better than banking because you can't get your money back. the deposits are much stickier >> you got your insurance, and it's been paid fo

hi, i'm ozwald. hello ozwald.nflation stays sticky or it comes down because we enter a nontrivial recession, it is equities that i think are a scary place. they are not priced consistently for bonds. we will find out who is right in the next year. tom: cliff of a qr speaking with david rubenstein. you can watch the full conversation with mr. asness with david rubenstein tonight at 9:00 p.m.. i cannot say enough about this, folks. cliff is one of the early graduates of a huge double degree program at university of pennsylvania in computer science and one of the sharpest guys out there, whether you agree or disagree with him read serious conversation. that is what we like to do with damian sassower our always interesting whatever more so for the idiosyncratic not becoming idiosyncratic. you can see suddenly things change in the emerging markets. he is chief emerging-market strategist for bloomberg. i do not know where to begin. there are some any stories to go on. let's start with turkey, with an election, we printe

hi, i'm ozwald. hello ozwald. rock- i wasn't going to say it. ♪♪ >> the president knows and so do the leaders, leaders of democratic nations, that if you do not take care other nations that, if you allow the united states to default, virtually, nothing else matters in what you are trying to do around the world. jonathan: john kirby catching up with bloomberg over the g7 in japan. forget happy talk. the mood music. let's talk about the numbers. treasury cash balance $94.6 billion as of may 16. that is up from day before but compared to $114 billion at the end of last week. that is come down a fair amount. that is what we are watching. tom: coming down and moving quicker. 87 billion down from $90 billion number. the adults are telling us $87 billion is borderline keep the government open. jonathan: everyone saying the same thing. we do not default. president biden saying i'm confident we will get in agreement on the budget. jamie dimon met with chuck schumer. this is a quote from him, u.s. should not and probably wi

hi, i'm ozwald. hello ozwald. pam, you are a rock- i wasn't going to say it. ♪♪ this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. >>> no way it is time for the "squawk planner. we will get on the data front april retail sales and april housing and the jobless claims on the earnings front, a busy week for retail reports which are increasingly interesting and important. we hear from home depot tomorrow and target and tjx on wednesday. walmart and alibaba on thursday. then deere, not retailer, but interesting company and foot locker on friday our next guest doesn't need to come on because i said everything she is thinking the market has been like a duck appearing calm on the surfac

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hi, i'm ozwald. hello ozwald.ularly focused in assessing the evolution of credit conditions and their effects on the outlook for growth. >> we will get a lot of data between now and our june meeting. tom: john williams of the new york fed speaking on the changes before this inflation report. your headline as the market day opens in 45 minutes is simple. inflation has moved to the markets and continues to in the last 10 minutes. i am using the 10-year yield as a barometer down 10 points to 3.95%. we have moved even lower, note price higher, yield lower, to 3.94%, a substantial move. i will call that 15 basis points. the nasdaq 100 up .8%, s&p futures put it on up 28 point, 4162. michael mckee is with us. he's experienced at talking with fed governors and presidents and has trouble with former fed presidents because they are afraid of him. william dudley joining us, former new york fed president and bloomberg opinion columnist. i have eight ways to go. i will do inflation and mckee i am sure will have smarter things

hi, i'm ozwald. hello ozwald.a rock- i wasn't going to say it. ♪♪ dolly varden silver is advancing their high-grade undeveloped asset in bc's prolific golden triangle. the property includes two past producing mines, and over 135 million ounces of silver equivalent. dolly varden. >>> now the answer to today's at aflac trivia question. what movie did apple use to hype its quick time format in 1999. the answer, "star wars:episode i -- the phantom menace. the quick time campaign sparks a net clogging 25 million downloads of the movie trailer >>> most stocks are having a good run as they head into what should be the busiest time of the year but where are prices going to go phil lebeau joining us with more phil, good morning >> good morning, brian the prices are going to go down, not by a lot, but they are expected to retreat over the next several months. something that we're noticing over the last, i'd say, two months, is a real increase in incentives the cash on the hood, if you will what you're being offered to buy a

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hi, i'm ozwald. hello ozwald.you are a rock- i wasn't going to say it. ♪♪ back when i had a working circulatory system, you had to give your right arm to find great talent. but with upwork, there's highly skilled talent from all over the globe. right at your fingertips. ♪ this is how we work now ♪ >>> welcome back to "squawk box. flutter entertainment, behind fanduel, releasing quarterly results today. contessa brewer joins with us a special guest. good morning >> flutter is an international company, i got to look at, it is the parent of fanduel, their u.s. revenue is up 9 2% peter jackson, the ceo of flutter joins us now from the uk where earnings have been happening or is it -- are you coming from ireland? i don't -- are you in ireland this morning >> i'm in the uk >> okay. >> yeah. >> so, peter, talk to me a little bit about the performance and what is remarkable is not just that your revenues keep going up, but your average monthly users are going up, that your market share has increased almost 14% from last y

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