hi, i'm ozwald. hello ozwald., you are a rock- i wasn't going to say it. ♪♪ david: so let's talk about your background. where did you grow up? bob: i was born in hickory, mississippi. hickory, mississippi is a really small town. one-stop sign kind of town. david: what did your parents do? bob: my father all his life was a worker in mississippi, cutting down timber in mississippi and a bit of farming. my mother was a schoolteacher and a small school system in mississippi. when they migrated up north to a small town freeport about 100 miles northwest of chicago, they became factory workers. david: you went to college where? bob: university of illinois, champaign urbana. david: what did you study? bob: history. david: what did you want to be? bob: i wanted to be a diplomat, ambassador or diplomat. david: what year did you graduate? bob: 1968. david: and then you went to woodrow wilson school at princeton, that was to do further diplomatic knowledge? bob: i got a master's degree in international affairs and again the

hi, i'm ozwald. hello ozwald. pam, you are a rock- i wasn't going to say it. ♪♪ aany questions?i got one. how about the best network imaginable? let's invent that. that's what we do here. quick survey. who wants the internet to work, pretty much everywhere. and it needs to smooth, like super, super, super, super smooth. hey, should you be drinking that? -it's decaf. because we're busy women. we don't have time for lag or buffering. who doesn't want internet that helps a.i. do your homework even faster. come again. -sorry, what was that? introducing the next generation 10g network only from xfinity. the future starts now. when people come, they say they've tried lots of diets, nothing's worked or they've lost the same 10, 20, 50 pounds over and over again. they need a real solution. i've always fought with 5-10 pounds all the time. eating all these different things and nothing's ever working. i've done the diets, all the diets. before golo, i was barely eating but the weight wasn't going anywhere. the secret to losing weight and keeping it off is managing insulin and glucose. gol

hi, i'm ozwald. hello ozwald.u are a rock- i wasn't going to say it. ♪♪ >> things are really busy. we had a great memorial day weekend. >> we are seeing her leader customers and the strong as part of the market. i think the priorities here have shifted in a crisis where travel has gone higher up. all this in order to fulfill something a little more sensitive than other industries. question opening in january. it is actually a bonus. we were factoring in this in the second half of this year. the levels of growth we are seeing are very encouraging. i think china is a market that will be impacted by a number of factors including the russian space. that is clearly putting pressure on europe and china. quick speaking at the iata agm in istanbul. we'll have plenty more interviews from the conference today. that will include the virgin atlantic ceo live from istanbul. it had bent the golden age of private equity but as returns fell the first time last year since the financial crisis, is the new favorite child of private

hi, i'm ozwald. hello ozwald.am, you are a rock- i wasn't going to say it. ♪♪ >> this is bloomberg to break euro. one of the major stories in the semiconductor space, we will build -- as much as we had a commentary on the israeli government side. we do not have much commentary from intel. they didn't initially specify the term or provide any more details on that. the facility will be away for fabrication. that is according to a person familiar with the plans. the expansion is part of an average of intel ceo to get more manufacturing outside of asia. also trying to restore the chip pioneers technological readership after some of the huge surges in both brand perception and stockpiles over the likes of nvidia. this kit you onto the major movers. liquidity is lower because of the juneteenth tally in united states. we are seeing a recalibration in dawes gallery new zealand dollar with sales be made as investors are growing impatient with the mush vaunted stingless package. that is according to agent-based fx traders.

hi, i'm ozwald. hello ozwald.are a rock- i wasn't going to say it. ♪♪ >> we are in a very uncertain environment because we are resetting geopolitics, value chains, interest rate environment, inflation, economic growth. that will shake the system. dani: andrea orcel in the land. top of prime minister giorgia meloni's italy first agenda is a sovereign wealth fund to finance italian businesses . what is the vision here? >> she is ambitious. she is morphing from a far right leader into a more conservative prime minister that wants to remain in power. to do that, she wants companies, in particular companies that are state owned. there are a myriad state owned companies in italy and they are a tool for her to implement her vision, her plan, in a country in which there are a lot of constraints. it's not easy to spend, and also european union rules limit the government's ability. so she wants italian companies first. her motto is made in italy. dani: how has the vision been received by investors? >> only one year ago, it

hi, i'm ozwald. hello ozwald.y it. ♪♪ caroline: time now for what is going viral. fans of the beatles, you are in for a treat. paul mccartney says you can expect to hear one final song. he is crediting artificial intelligence. in an interview, the song was made using a demo with don lennon's voice. it will be released later this year. i was lucky to be in glastonbury this time last year. paul mccartney was performing an performed alongside a virtual john lennon using isolated vocals. ed: it is called ai to do de-mixing. he gave this to yoko ono who gave this to mccartney. all the ai does is isolate the voice. in interviews, paul mccartney has talked about how it is exciting because tracks they never quite finished they could now finish. but he also said it is scary. to give infinite life to something that was not done at the time. caroline: there is working with the artists. a lot has been about copyright issues, deepfakes, and how the business navigates this. ai keeps giving us new areas to contemplate. that does

hi, i'm ozwald. hello ozwald., you are a rock- i wasn't going to say it. ♪♪ i need it cool at night. you trying to ice me out of the bed? baby, only on game nights. you know you are retired right? am i? ya! the queen sleep number 360 c2 smart bed is now only $899. plus, 48-month financing on all smart beds. shop now only at sleep number >> now the time has come to shift to offense mode in the investment decisions. there are a lot of uncertainties, but now i can say that ai is about to grow explosively, and we as a group are preparing for such an error to come. i have been busy myself getting ready for the future. haslinda: softbank founder and ceo switching to an offensive market strategy. more on softbank, the company's vision fund is said to be preparing for another round of layoffs as soon as this week. the story says about 13% of staff will be affected, following the roughly 30% reduction last fiscal year. we are also told the headcount reduction will mostly occur in [indiscernible] rishaad: checking in with t

hi, i'm ozwald. hello ozwald.ck- i wasn't going to say it. ♪♪ somebody would ask her something and she would just walk right past them. she didn't know they were talking to her. i just could not hear. i was hesitant to get the hearing aids because of my short hair. but nobody even sees them. our nearly invisible hearing aids are just one reason we've been the brand leader for over 75 years. when i finally could hear for the first time, i started crying. i could hear everything. call 1-800-miracle and schedule your free hearing evaluation today. guy: this is bloomberg markets. these are live pictures of the principal room. coming up tcw group codirector will be joining us on bloomberg at 1 p.m. new york time. this is bloomberg. >> i think we have done a superb job. all of us, we have to bridge it, but there is nothing that can replace personal interaction. so we are working to get more people back into the office. it will be good for society and the overall industry and for deutsche bank. and most importantly peopl

hi, i'm ozwald. hello ozwald. a rock- i wasn't going to say it. ♪♪ heidi: in a surprise move, the pga tour and liv golf have agreed to a merger ending dispute between the two tournaments with had billions of dollars at stake. more details from our legal news reporter who joins us in san francisco. what do we know and how did this come about? >> last year there was a big fight that began between pga and l iv. now nearly a year later we have a shocker of a deal where both sides have decided to come together and partner with each other. it is interesting how the deal came about. happen quickly, it looks like talks began with the public investment fund of saudi arabia, it's chief having discussions with the pga board numbers in london. a few weeks later, the commissioner met with the chief, they met for the first time in venice. a few weeks later, they had already hashed out certain details and came to an agreement in principle. things happen very quickly. it ended and acrimonious battle in court that had escalated in

hi, i'm ozwald. hello ozwald. give it up for pam. are a rock- [silence] i wasn't going to say it. ♪♪ >>> some strong pushback from mark zuckerberg on the headsets competitor. >> mark zuckerberg going after apple, his new arrival in mixed reality had set your yesterday in a meeting with all hands, audio obtained, $3500 price tag. zuckerberg saying, quote, i think that their announcement really showcases the difference in the values and the vision that our companies bring to this in a way that i think is really important. we innovate to make sure that our products are as accessible and affordable to everyone as possible now, apple's vision pro costs more than three times meta's $1,000 quest pro headset that came out last year and at $500 consumer model is coming later this year. it is setting the stage for a high verse low end battle for headsets next year when the vision pro launches in the u.s and it is not just about headsets zuckerberg laying out an ai roadmap saying generative ai can help users build things in the metaverse. and a

hi, i'm ozwald. hello ozwald.you are a rock- i wasn't going to say it. ♪♪ >> this is bloomberg daybreak: europe, a couple of things to discuss. it start off with telecom italia they are set to be close to enter negotiations with the u.s. firm kkr over the sale of its landline network. the deal could be valid as high as 23 billion euros. it is seen as more appealing than a rifle bid by italy's estate lender. kkr has overall asia-pacific equity team in the early stages of allocating capital from its $15 billion regional fund. this comes as the dealmaking faces headwinds while straining u.s. china relations. ubs faces hundreds of millions of dollars in penalties following investigations by several regulators into credit suisse's dealings with archegos capital. that is a report from the capital times. let's quote more from the bloomberg's agent investing capital in tokyo. warning signal coming through according to people, there is no real range that would help us understand how large these potential losses could be. >

hi, i'm ozwald. hello ozwald.am, you are a rock- i wasn't going to say it. ♪♪ >> we are getting close to a point where we can sit a little bit and kind of pause. i don't know if we are exactly there yet, but i am in the camp, increasingly, coming into this meeting, of thinking that we really should skip -- not pause. i don't like the word "pause." but skip an increase. alix: fine, no pause, but fed president patrick parker saying the fed should probably skip an interest rate increase in its upcoming june policy meeting. which brings us to the question -- hold june, hike later? rebecca patterson, what do you think? rebecca patterson? rebecca: if there was going to be movement at the june meeting, i think we would have gotten powell or williams, someone at the top of the pyramid, changing the narrative so it would be priced in more. now that we go into the blackout period, i think that window is closed. you will get some dissent probably at the meeting. some people will push for a hike, but i think the overriding vi

hi, i'm ozwald. hello ozwald., you are a rock- i wasn't going to say it. ♪♪ >> it's really important that we try to understand the importance of not just ai but the innovation coming in the tech sector and not be scared of innovation. innovation is good. innovators want certainty and want regulations smaller and sometimes bigger as well. tom: mayor of london sadiq khan speaking to us about the opportunities in ai at london tech week and google deepmind ceo co-finder demis hassabis says governments should prioritize increased investment in ai safety research to mitigate risks. speaking exclusively to me, he talked about the potential impact that ai may have in the scientific and medical yields. -- medical yields. there are three different types of risk. number one is bad actors using these dual-purpose technologies in ways that are bad for society. that is true for any new transformative technology down the years. i think ai is no different other than the fact it is the most general type of technology. that becomes

hi, i'm ozwald. hello ozwald. give it up for pam.a rock- [silence] i wasn't going to say it. ♪♪ >>> gamestop shares down this morning and about flat since ryan cohen was named chairman of the company wednesday, when the stock dropped by more than 20% he spoke out against american corporate culture during the annual shareholder meeting yesterday. take a listen. >> my responsibility is making sure gamestop is run by managers who treat company money like their own. in corporate america the people in charge, the professional directors and management teams, are not aligned with shareholders they are always the recipient of stock grants however, they rarely purchase company shares with their own savings. there's a big difference between risk-free compensation for showing up and putting a meaningful amount of your own money at risk. as a result money is wasted, work is delegated, and a lot of time is spent managing short-term expectations and pandering to wall street i like people who roll up their sleeves and do real work >> speaking of ry

hi, i'm ozwald. hello ozwald. wasn't going to say it. ♪♪ i was told my small business wouldn't qualify for an erc tax refund. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. [coughs] good to go. yeah, i think i'll get a second opinion. all these walls gotta go! ah ah ah! i'd love a second opinion. no. i'm going to get a second opinion. with innovation refunds, there's no upfront cost to find out. so why not check like i did for my small business? take the first step to see if your small business qualifies for the erc. we planned well for retirement, but i wish we had more cash. you think those two have any idea? that they can sell their life insurance policy for cash? so they're basically sitting on a goldmine? i don't think they have a clue. that's crazy! well, not everyone knows coventry's helped thousands of people sell their policies for cash. even term policies. i can't believe they're just sitting up there! sitting on all this cash. if you own

hi, i'm ozwald. hello ozwald.a rock- i wasn't going to say it. ♪♪ >>> welcome back a new law targeting real estate investments in florida has wall street buzzing this morning. our robert frank is in bay harbor islands, florida, with the story. robert >> reporter: good morning, sara. well, this house listed for just under $20 million. would normally be marketed a lot to overseas buyers, but a new law would make it illegal to sell to buyers from certain countries. now chinese buyers would not be allowed to buy any real estate in the entire state of florida under the law. buyers from russia, china, and many other countries, five of them to be exact, couldn't buy property within what's called ten miles of critical infrastructure that's airports, seaports, water treatment plans, electrical facilities -- basically drama map and it excludes all of miami, many parts of the florida coast. governor desantis said this is geared to preventing the influence of the chinese communist party on florida what's interesting and annoy

hi, i'm ozwald. hello ozwald. pam, you are a rock- i wasn't going to say it. ♪♪

hi, i'm ozwald. hello ozwald. rishaad: let's get to the open for indian equities. we are marching to the upside. if the nifty has a rise of 30 points it would be a record to the highest we had a few days ago. thanks -- all of these having a modest game at the start of the session. the rupee remaining stable. let's have a look at airbus and confirmation coming from an order. air india first announced in february. >> for indigo, this is 500 airplanes order, the biggest order ever. that is for the long term. indigo is very successful and in india. i think there is a lot of substance behind those orders. these are long-term orders. it reflects the fact that airplanes are scarce resources, but it also reflects growth and it reflects long-term planning of airlines. i think this is a healthy perspective on the long topic sure. -- pick sure. when we saw the order, one of the questions that was asked was wise airbus selling so many airplanes to indigo? you are tying up huge amounts of your capacity with one big order. an o

hi, i'm ozwald. hello ozwald. going to say it. ♪♪ 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. yvonne: now it is time for the rbis. all 40 economists said the reserve bank of india will keep rates on hold. for more on the decision, let's get to our senior editor in mumbai. what is expected today? >> good morning. all 40 economists and that bloomberg surveillance expect the rba had to expend the pause -- they are back to expend the pause. currently we are at withdrawal of accommodation, bunch of data that the central bank would be looking that, cpi had an 18 month low. gdp coming stronger-than-expected and monsoon that is several days late. i will send it back to you because i know we have an expert. rishaad

hi, i'm ozwald. hello ozwald.you are a rock- i wasn't going to say it. ♪♪ paul: latest readings are suggesting more pain for the u.s. economy as services gauge filter 15 three -- 50.3 in may. business activity and orders are downshifted. this follows the manufacturing survey which showed the longest stretch of contracting factory activity since 2009. shery: our next guest thanks the economic -- thinks the economic pullback will not be long lasting. we have sylvia jablonski cio at defiance etf. are you investing in this pullback whether it is the economic pullback or perhaps a soft landing? or even the market lows we have seen? sylvia: i would be investing. i do not think we will have a massive recession. there is a lot of data that indicates corporate america and the macroeconomic environment is holding up pretty well. although you have pmis sliding a little bit you have consumer spending going down a little bit and you have estimates that have fallen and come back throughout the year. we have a lot of different i

hi, i'm ozwald. hello ozwald.ng to say it. ♪♪ it can happen to the people who teach us and rescue us, the people on our team and in our family. it can happen to the people who serve us and the people who served. the people we work late with and stay out late with. it can even happen to the person in the mirror. opioid use disorder is a disease that can happen to any of us. it's possible recovery can happen to any of us, too. haidi: take a look at how asian stocks are trading. we are seeing energy materials leading the gains. a little bit of pressure on oil prices. in the wall street session we saw a rebound given this expectation of strengthening demand. in china we talk about speculation of more stimulus to come. we are seeing consumer, discretionary and industrial leading declines. we continue to have concerns about cracks on the global economy, with more rate hikes promised. we are seeing the discretionary stocks taking athletes. haidi: a senior official has traveled to hong kong. let's bring out our reporter.

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. (jennifer) the reason why golo customers have such long term success is because we focus onstops real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement makes losing weight easy. release sets you up for successful weight loss because it support

hi, i'm ozwald. hello ozwald.t going to say it. ♪♪ rishaad: there you go, mumbai, we are 30 seconds away from the start of the trading day. these benchmarks so close to record highs, just from flat to lower. this is five second before the open. let's get to the open proper as we get reaction to that lack of movement but a hawkish stance from the reserve bank. yvonne is doing some research. yvonne: it looks like at least we are seeing slow going open but still seeing some green. we will see if we can reach that record high here this morning, as you mentioned, slightly lower, down more than 1% on the back of the stake sale from a pension fund. let's bring in a equities -- our equities reporter. what are people saying to you about the rally, does it still have legs? >> thank you for having me on the show. at this point that clearly same optimistic. it probably will not be that ceiling that we have been lordy -- loitering around record high levels for some time. the optimism still remains. most of the factors are in f

hi, i'm ozwald. hello ozwald. to say it. ♪♪ david: we are watching japan, 24 minutes into the session, looking at these trading house names. bucking the overall trend and the contrast, i think the big news, warren buffett telling us they increased their stake and leaving analysts further behind in terms of catch up. they can't keep up with the rally. our asian equities reporter is in tokyo. what can you tell us? >> he came in april saying he would increase the stakes in the trading companies and he is doing that now. holding stake at average of eight .5%, saying it might go as much is 9.9% at some point. we are seeing trading companies are reacting to those. this year, since warren buffett said he will increase the stakes , stock prices of these companies went up so much. the wholesale trading firm center is the top performing sector in the topix index. haidi: trading companies have done well. is this the buffet effect or are other drivers at play? winnie: warren buffett is a long-term value investor. his voice of

hi, i'm ozwald. hello ozwald.it. ♪♪ somebody would ask her something and she would just walk right past them. she didn't know they were talking to her. i just could not hear. i was hesitant to get the hearing aids because of my short hair. but nobody even sees them. our nearly invisible hearing aids are just one reason we've been the brand leader for over 75 years. when i finally could hear for the first time, i started crying. i could hear everything. call 1-800-miracle and schedule your free hearing evaluation today. >>> good thursday morning. i'm sara eisen live from the floor of the new york stock exchange setting the agenda for us today, forget rate cuts

hi, i'm ozwald. hello ozwald., you are a rock- i wasn't going to say it. ♪♪ ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. >>> tech has been on a tear to start this year. nasdaq on pace for its fourth positive month in a row. our dom chu is taking a closer look this morning. >> carl, it has been the technology sector that's been driving the gains in the overall market, not just for the nasdaq as you point out, but the s&p 500 as well. technology, the best performing sector on a year-to-date basis in the s&p 500 among all 11 of them and the most important sector because it's 28% of the broader s&p. now the technology sector spider is one of etfs investors and traders use t

hi, i'm ozwald. hello ozwald. give it up for pam.silence] i wasn't going to say it. ♪♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. life is for living. let's partner for all of it. i'm so glad we did this. edward jones 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 >>> crypto continues to get a boost. bitcoin above 30 k, up almost 15% this week on pace for the best week since march amid a surge in bullish behavior on the street names like blackrock, wisdom tree and invesco joining the etf rush filing for new bitcoin funds and the fed chair yesterday addressing regulation in front of lawmakers on the hill saying that crypto currency like stable coins have staying power. argued, quote, we do see payment stable coins as a form of economy and in all advanced economies the ultimate source of credibility in money is the central bank we

hi, i'm ozwald. hello ozwald.- i wasn't going to say it. ♪♪ i remember being on aau trips, high school games. my mom would always say, "you need to fuel the body and you need salt." i'm like, "why do i need salt? like, who is going to do that?" she literally would make me rip open a pack of salt, pour it in my hand, and i would, like, lick my hand. sure enough, i would always be the kid not cramping, i would always be the kid energized, ready to go. fast forward 20 years and i go from eating salt out of my palm to a drinking lmnt. >>> welcome back to "squawk on the street." i'm sylvan na henao. here's your news update. the supreme court dismissing a louisiana appeal to prevent its congressional map from being redrawn. the case brought over claims that state unlawfully dilutes the influence of black voters. it comes after the high court unexpectedly upheld a lower court ruling this month that said alabama's congressional map had to be redrawn as well. >>> authorities say a san antonio airport worker died in a grues

hi, i'm ozwald. hello ozwald. give it up for pam. to say it. ♪♪ - psst! susan! with paycom, employees do their own payroll. - what's paycom? a magic payroll genie? - it's a payroll app. - payroll is way too complicated for the average person. - paycom guides them through it. missing or duplicate punches, pending expenses, unapproved pto, on and on. - why would employees wanna do all that? - this could be a stretch, but i think it's 'cause they wanna get paid correctly. i like getting paid correctly. we planned well for retirement, but i wish we had more cash. you think those two have any idea? that they can sell their life insurance policy for cash? so they're basically sitting on a goldmine? i don't think they have a clue. that's crazy! well, not everyone knows coventry's helped thousands of people sell their policies for cash. even term policies. i can't believe they're just sitting up there! sitting on all this cash. if you own a life insurance policy of $100,000 or more, you can sell all or part of it to coventry. even a term pol

hi, i'm ozwald. hello ozwald. give it up for pam.am, you are a rock- [silence] i wasn't going to say 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. >>> let's take a look at shares of nasdaq, because they are down in the premarket the company's agreed to fire a software term from thoma bravo i'll go through and give you some of the specifics. it's regular reporting and risk reporting, the main customers are banks. it's a big business, and they're paying a lot for it. in fact, $5.75 billion in cash and 85.6 million shares of common stock thoma bravo has a lock-

hi, i'm ozwald. hello ozwald. give it up for pam., you are a rock- [silence] i wasn't going to say it. ♪♪ this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight. did you ever stress about us having three kids? no, that was always part of the plan. three kids?! this was never part of the plan! these kids order the lobster mac 'n cheese! what if she wants to play golf? we're going to have to outlaw golf. absolutely no golf in this house! not under my roof! since we started working with empower, all of our financial questions have been answered, so we don't have to worry. so you never- nope. always part of the plan. join 17 million people and take control of your financial future to empower what's next. start today at empower.com >>> get ready for the first "mad dash" of the week, of course, also the first opening bell about, let's call it, seven and a half minutes from now. we want to talk a little palo alto >> well, it was just added to the s&p, which is a very big deal, because dish is coming

hi, i'm ozwald. hello ozwald., you are a rock- 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? ♪ ♪ yousef: this is bloomberg markets. let's talk about the largest aviation showcase. playmakers are gathering the paris air show to announce deals and innovations. despite the return of global travel, one airport is on a quest to ban private jets. >> luxury destinations for the well-heeled jetsetters. perhaps not for long. the airport his plans to ban private jets from its runways by, setting a precedent for other travel hubs. 17,000 private jets cross the runways last year. the airport argues that they are noisier and generate 20 times more carbon emissions than commercial flights. the plan was announced a few months after climate activist blocked private jets. it comes on top of the governments impose will to cap the number fight -- flights. >> perspective of the resid

hi, i'm ozwald. hello ozwald.o say it. ♪♪ >> i think that 60/40 needs to be modernized. of the 40 we need to add 15-20% in different alternatives and look for equity protection strategies. rethink diversification. this is a critical time. tom: a part of the academic debate at this moment. sebastien page from t. rowe price on multi-assets. i can't say enough about his book " beyond diversification." futures -14. lisa abramowicz is getting ready for the next hour of the open. jonathan ferro was on an important assignment right now. we have lots of headlines coming out. you heard about the trump trial, lisa mentioned this, antony blinken announcing more ukraine aid coming out tomorrow. the 10 year yield is 3.77%. if you are a retail investor looking at a 20 year duration or union bond, you have been slammed over the past 24 months on the total return index. the end of the great bond party. we have meghan swiber from bofa securities inc we got absolutely slammed price down 50%. now what? meghan: you have yields a rela

hi, i'm ozwald. hello ozwald.♪♪ >>> when it comes to ai, the ceos are treading carefully for all the talk about how ai can boost labor productivity and enhance products to stimulate customer demand, cfos remain cautious in our quarterly cfo council survey we asked members what best describes how their companies are investing in ai. get this, 41% said they're evaluating ai, but remain cautious 18% said they have no plans to invest in ai, and only 32% said their ai investments are accelerating but perhaps they still see the tailwinds. ai is providing to the broader tech industry. when asked what sector will see the biggest growth in the next six months, more than one-third of respondents said technology that's a huge jump from the survey from six months ago where only 9% expected technology to be the biggest sector grower but, the cfos we surveyed are also torn about the impact ai will have on jobs. 18% believe ai will create more jobs than it destroys, but the remaining 82% of respondents were split between ai as a

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hi, i'm ozwald. hello ozwald.am, you are a rock- i wasn't going to say it. ♪♪ >> i always want to make sure we have a fair process. it really seems like one side justice is being weaponized. >> was that a good look for the president to have boxes in a bathroom? >> is it a good picture to have boxes in a garage that or -- that opens up all the time? a bathroom door locks. sonali: bramo is not jonathan: too impressed with that exchange. going into cpi later today with equity futures up by 0.1% and yields unchanged. let's go straight to apple, closing at a record high yesterday session. a touch softer today, ubs making a move, moving to neutral, cutting the outlook for apple. they say softer iphone and services growth and apple trades at 29 times near term eps estimates, above the next 12 months estimates above the 1, 3 and five year average. tom: they had their developers concert and there is concerns about this or that box but the answer is life goes on for apple. as they approached $3 trillion market cap since the

hi, i'm ozwald. hello ozwald.rade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley. >>> back to "squawk box. joining us is senior investment strategist at edwards jones, good morning, imana. >> good morning, andrew. i don't know if you saw what jason had to say he has a view the fed has to raise interest rates materially. do you think equities are in the right place? >> we think the fed is near the end of its iet ening cycle could they have one or two rate hikes ahead of them? sure we don't think that meaningful moves the economy as it did from 0-50 basis points. on the margin, we could see pressure on housing, maybe consumer credit, but more broadly the last 25 or 50 basis points we think the economy can absorb and has been absorb tlug this last 500 basis points or so from a market perspective, we certainly think we're still in

hi, i'm ozwald. hello ozwald.oing to say it. ♪♪ >>> welcome back to "squawk box. a big beat for adp for the may payroll estimate in the private sector, up 278,000 that is a huge increase from what the estimate was of 180,000. you can see right there the goods sector 110, service sector 1 186,000 and the non-farm payrolls adp, not always accurate, but it is pointing to a beat coming on friday small business powering up 235,000, medium up 140,000 and large business down 106,000. i'm not surprised to see some let-up right there and you look at by sector and up see leisure and hospitality 208,000. so the bulk of all of the hiring came, again, in the leisure and hospitality business that sector is still down below where it was before the pandemic by 400,000 jobs. there's still work to be done. construction 64,000, education and health services down 29. that had been an area that had been a source of strength. financial activities, you've heard about layoffs in that sector and manufacturing also struck with the ism manu

hi, i'm ozwald. hello ozwald.am, you are a rock- i wasn't going to say it. ♪♪ ♪ "the pursuit of gold" by alex ball ♪ ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) the l'or barista coffee and espresso system. a masterpiece in taste. >>> nasdaq is on track for its best first half in 40 years driven by a big run in the tech stocks joining us now with hick picks is dan let's talk this through. have we one through all the games or are there still places where you see opportunities in the second half? >> good morning, becky i continue to see select opportunities into the second half and beyond. it's driven by the companies that can ino e vat, invest, and ultimately drive good growth if we look at all fa bet or google, they're generating ai in it. amazon is nation cyclical changes. i'll also highlight apple, which is executing well on its product cycles i do phase choppy demand in some of the markets, and i think that remains a challenge, but i think the bigger story is really them powerment to the developers and the broader

hi, i'm ozwald. hello ozwald.it. ♪♪ >> welcome back to "squawk box" this morning we have some sad news to bring you. jim crown was killed yesterday in a vehicular crash at a racetrack in woody creek, colorado he was the chairman and ceo of henry crown, manager and partner of aspen skiing behind me. he was lead director of general dynamics and trustee of the aspen institute. jamie dimon out with a statement this morning we are here at the aspen idea festival, something that was one of his favorites i remember being here last year and having dinner with his wife, paula and his children yesterday was jim's 70th birthday "squawk box" will be back after this do you ever worry we'll live forever? no, it's literally never crossed my mind. what if we live to like 100? that's 35 years of being retired. i don't want to outlive our money. and i have been eating all these stupid chia seeds! i could totally live to be 100! why do i keep taking such good care of my- since we started working with empower, we're able to get all o

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hi, i'm ozwald. hello ozwald.e 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: live from new york city, good morning. whipsawed by surprise rate hikes and soft economic data. equity futures right now just about positive and the count onto the open start now. announcer: everything you need to get set for the start of u.s. trading, this is bloomberg the open. with jonathan ferro. live from new york, coming up, global bond markets shaken

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hi, i'm ozwald. hello ozwald. better... together. burger and fries... soup and salad. like your workplace benefits and retirement savings. with voya, considering all your financial choices together can help you make smarter decisions. voya. well planned. well invested. well protected. >>> welcome back to "squawk box. headline producer prices for may dropping more than expected. the core rate was up 0.2% in line with estimates and the data comes just a few hours before the latest fed interest rate decision for her take, let's bring in judy shelton, a senior fellow at the independent institute. in her latest "wall street journal" op-ed, she says it's critical to look at the budgetary effects of a fed that's raising interest rates, and you make the point, judy, and welcome, you make the point that all this, everything the fed has done and is considering today is based on the notion that inflation and unemployment are inversely related, the phillips curve notion, and you asked a question whether that's the case well,

hi, i'm ozwald. hello ozwald.ck- i wasn't going to say it. ♪♪ no matter what you're up against, we have your back. we are united way. we are neighbors helping neighbors in communities around the when disaster strikes we get you back on your feet. we help children build brighter. we've been here for over 135 s but now our work is more . join us. join your neighbors. join united way. jonathon: equities advance just a little bit on the s&p 500 by 0.2 per 6% -- so .26% as well. that performance month to date coming from a surprising place, the russell small caps. one to date for june, higher. much, much higher. regional banks up by about 12% this month. a phenomenal run for some regionals, after really getting beaten down over the last few months for obvious reasons. the russell this morning up by 0.3%. the two-year at the moment, 4.61 going into the federal reserve on wednesday. might come down the cpi tomorrow morning. for others, it might not at all. even if it is strong, you can take a pause, a skip, and wait for

hi, i'm ozwald. hello ozwald.i wasn't going to say it. ♪♪ >> there are many uncertainties when it comes to the oil markets. if i have to pick up one, the most important, it is china. 60% of that growth is said to come from china. if the chinese economy weakens sorg grows much lower than many international economic institutions believe, this can lead to bare sentiment. jonathan: there is the iea executive director catching up with francine lacqua earlier this morning on the oil front. plenty to talk about. plenty to talk about on a growth as well. a report this morning calling for week global economic growth with inflation sticking around. that is becoming a wider and wider view. just about unchanged on the s&p 500. slightly green. yields a little higher by a couple basis points. 3.6 871. just sort of maturity. slightly stronger, one point 0720 on the euro-dollar. if you looked at that's, you would not know that data out of china was weaker once again. for the first time in three months, that global growth story is

hi, i'm ozwald. hello ozwald.a rock- i wasn't going to say it. ♪♪ 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. >> in the same way mac introduced us to personal computing and iphone introduced us to mobile computing, applevision pro will introduce us to spatial computing. this marks the beginning of a journey that will bring a new dimension to powerful, personal technology. lisa: tim cook announcing apple's new headset that resets for 3004 hundred $99 and is set to watch on the next phase of products. we are here with julian emanuel and tom and jonathan not here. we will see jonathan ferro at 9:00 a.m. hour when he broadcast from newport beach. nothing remarkable in the opening. notable, the run-up in tech s

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hi, i'm ozwald. hello ozwald.t going to say it. ♪♪ ♪ >> the recession is having the intended effect. >> i think we have weak spots. >> the disconnect is we are not seeing though slowing in the labor market. >> to me, the cover story is the 2024 story. >> my guess is it is consistent with a skip, but one never knows. announcer: this is "bloomberg surveillance." >> it is ism services monday and tom and jon are both off. good morning. tom and jon are both off, whether they are together, i do not know. formula one is not linking up with her absences come but with me is lara rhame, chief u.s. economist for fs investments as we look at a quiet week for the bed, but not so quiet for the data -- fed, but not so quiet for the data. what are you looking for in terms of ratification for a recession or soft landing? lara: one thing that has been extraordinary is the economic data have been coming in much stronger than expected. there has been one outlier, the surveys. and one of my favorite, the bloomberg surprise index is at