hi, i'm ozwald. hello ozwald.you are a rock- i wasn't going to say it. ♪♪ jon: time for our stock of the hour, keeping an eye on technology. after the bow, numbers from -- after the bow, numbers from microsoft and also back. nasdaq higher. when it comes to these earnings, assuming the quarter itself is reasonably strong, it seemed like the market will be watching. netflix had an encouraging outlook. tesla a more next message, investors more cautious. then these specific stories, and we see strength in the cloud business for microsoft? sonali: brent thill joins us to discuss. if you think about the power the magnificent seven has had in the stock market this year, how vulnerable are they to these big tech earnings, particularly when we look at what is ahead of the bell today? brent: year-to-date returns have been good, anywhere upwards of 100 plus percent. big returns and they are sensitive to the ai data points. lastly, oracle went down 6% saying there is no ai revenue. you saw the stock, the fact that they were s

hi, i'm ozwald. hello ozwald.am, you are a rock- i wasn't going to say it. ♪♪ jon: this is bloomberg markets. time for our stock of the hour. we've been tracking tesla shares today. it's been a choppy session. we are usually lower and moved into positive territory and investors reassessed at this hour at the companies third quarter vehicle deliveries came in about 10% below wall street estimates. the sales figures were about 30% higher than last year. some analysts felt production pickups could get smoothed out this quarter. if tesla were to hit the current expectations for deliveries in the fourth quarter, that would get them to more than 1.8 million deliveries this year. that will be a record but it wouldn't be the 2 million here that some thought might be possible earlier this year. sonali: ed ludlow is here to us play more. what do you make of the reaction by investors today to thism miss of house estimates. ed: tesla had telegraph that production talking about retooling for gen3 and their cyber truck. consens

hi, i'm ozwald. hello ozwald.u are a rock- i wasn't going to say it. ♪♪ ♪ dani: welcome back to your friday edition of "bloomberg daybreak europe." taylor swift is now a billionaire. she has propeled the pop star into limited ranks of recording artist who have built a 10-figure fortune in music. the one who are billionaires tend to have other businesses too. bloomberg with how her financial success was created. >> it's official, taylor swift is a billionaire. her hair esker to tour is a party generating hundreds of millions of dollars it's a multinational conglomerate. swift has made her fortune almost scyphily from music. she has made $25 million from record sales. >> we estimate that her total income from streaming is $175 million. the biggest part of her earnings is undoubtedly her concert revenue. >> that's 35% of ticket sales is profit t about $500 million from tour other the years. >> her tours and record sales are all earnings. but she has assets including her recording catalog. >> we estimate that her cata

hi, i'm ozwald. hello ozwald.u are 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. (adventurous music) ♪ ♪ ♪ be ready for any market with a liquid etf. get in and out with dia. ed: time for talking tech. tsmc is axing plans to build an advanced chip site at taiwan. -- on one of the more prominent startups and amy to compete with the likes of microsoft and openai and apple ceo tim cook made a special appearance at a tencent gaming tournament in china and this comes amid reports of slower sales at the iphone 15 and increased competition from huawei. ed: it is tech week --caroline: it is tech week and we will sit with participants from everywhere ventures. amazon -- watching s

hi, i'm ozwald. hello ozwald., you are a rock- i wasn't going to say it. ♪♪ you don't have to worry about things like changing tax rates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com alix: airline stocks getting hit today not only because of suspended flights to tel aviv due to the israel hamas war, there is also jet fuel prices and recent disruptions. walk us through particular the airports in france. >> you mention the airports in france. it does show how on edge authorities are and disruptions including a false alert, issuing a bomb threat, how that can cascade through the markets. we saw they were the first of the big three u.s. carriers to come out with numbers and they said the tel aviv route which isn't very important, but in the global context it's

hi, i'm ozwald. hello ozwald.are a rock- i wasn't going to say it. ♪♪ kriti: welcome back to daybreak europe. european central bank governing councilmember robert holtman says inflation has not been defeated just yet. additional price shocks could require further increases when it comes to borrowing costs. he spoke on a panel at the austrian central bank chief saying quote in regards to inflation, we are not yet out of the woods. this seems to be a common theme around the world as we talk about, do we, do we not hike? all that rhetoric at a time by the way we are talking about higher geopolitical risk and higher oil prices on the back of it. let's bring the conversation here to the u.k. where inflation is set to slow, signaling price pressures are may easing further in september. what are we expecting in six minutes time? lizzy: inflation data have surprised economists in both directions in recent months but the expectation today is that inflation pressures will have eased in september. we had jobs data yesterday,

hi, i'm ozwald. hello ozwald.wasn't going to say it. ♪♪ alix: every monday we are bringing you money undercover. parts of the market attracting more money. works pulling dealmaking in the private space. joining us as ubs global cohead of the alternative capital group. >> i did want to get your sense because we are talking so much about how the ipo pipeline has come down and there is this existential question of how much pain will be felt in the private equity's beer -- private equity sphere, they are facing the biggest test of their career, why? >> they are operating under an environment now with high interest rates, high inflation, incredibly -- incredible geopolitical uncertainty. and they need to work harder to create value. in the last five years they've lived in an environment where there buying businesses, benefiting from multiple expansion, in the private and public market and making a lot of money in the process. lisa: are you surprised we haven't seen more bankruptcies or consolidations in the private equ

hi, i'm ozwald. hello ozwald., you are a rock- i wasn't going to say it. ♪♪ ♪ >> this is very unusual, but there is a reason why this is so unusual, and that's because the characterization of the economy has changed in my mind. what we see here, jon, is a massive reaction to not rates going higher -- that was last year. this year is about high rates staying there for longer. that is a fundamental change of how you think about the yield curve, and that is what we see playing out in the markets. alix: that was bloomberg opinion columnist all -- mohamed el-erian. that brings us to the question of the day -- what landing? joining us now is rebecca patterson, to former chief investment strategist at bridgewater. that is our starting point, but as the economy going to land? rebecca: i think we will see a mild recession going into mid, maybe first half of next year. and the fed has been trying to get the market to believe for a year, and now they believe it, that they will have to hold rates higher for longer. this will

hi, i'm ozwald. hello ozwald., you are a rock- i wasn't going to say it. ♪♪ ♪ caroline: let's speak about crypto. some of the optimism around bitcoin again being shown as it managed to crack through the $30,000 level once more. this again is about the hopes it might be able to see a spot bitcoin etf come to the market if not one two at the plethora put forward. we understand at the moment we are seeing this brought a rally but looking toward gbd see in particular grayscale, trust, they could be adc court ruling on that atf application as soon as today. the sec asked a federal judge to dismiss the case against ripple executives and there seems to be this mood music shift so we will see grayscale prevail at the end versus the sec. the sec backing down and ultimately this hinting we will see etf's being adopted sometime soon. ed: let's have some more bitcoin chat, caroline. our next guest is so confident about the growth of crypto, he is predicting bitcoin will only preach its $69,000 high at some point next year but

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hi, i'm ozwald. hello ozwald. to say it. ♪♪ rishaad: we are back, and having a look at recapping the top story. president biden is set to be weighing up a trip to israel while warning against a long-term occupation of gaza. we spoke earlier to the palestinian ambassador to china on what he would like beijing to be doing. >> we need to stop what is going on. people are dying. we need to address this situation and is the obligation of the community. china is responsible as well. why they are sitting at the security council and expect them to join hands with others. mr. blinken was already in the region and many european leaders are there. i think there is a lot going on and mr. wang yi spoke a lot. we are urging the palestinians and everybody, we need to join prorated efforts -- coordinated efforts to make this happen. this is the responsibility of the international community. rishaad: good this restart a peace process and the fact that the palestinians are not speaking with one clear voice is one issue. the other i

hi, i'm ozwald. hello ozwald.am, you are a rock- i wasn't going to say it. ♪♪ explore endless design possibilities. to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™. >> last night we passed the funding bill. there should be a crisis. consequently, i strongly urge my republican friends in congress not to wait. don't waste time as you did all summer. passed a year-long budget agreement and honor the deal. stop the games. jonathan: the stopgap funding bill that will take us to november 17. he ultimately wants the aid for ukraine. on the s&p 500, totally unchanged. you do not get the spike you were looking for. yields higher by five basis points on the bond market. foreign exchange, dollar showing strength and euro showing some weakness. the resilience of the u.s. dollar, 102 is what they are looking for in the near term making news and a bit of splash from citi. tom: this is on the certitude of greater demand. the move up to 120. and the important conv

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hi, i'm ozwald. hello ozwald.going to say it. ♪♪ >> clearly the consumer is holding up better than expected. >> investors do expect to slow down but not a collapse. >> over the last several months it is a spot where inflation could confirm. >> this is bloomberg surveillance with tom keene, jonathan ferro and visa number on a wet -- lisa abramowicz. lisa: for our audience worldwide good morning this is bloomberg surveillance. jonathan ferro is still on his cruise and katie greifeld is joining us. and you been talking about the gloom but i see it in the opposite way. the tone is for me a trend they could give you the confidence to go by the tech and everything else. tom: there's issues of seasonality in the time of year. i will make a small issue, we talked about this, is by backlick in. i don't understand the legality of it. everyone can buy their own shares. they come out with earnings, they get done and go to some spot and they do bond issuance. i wonder if that is what they see from west coast techie. we will wi

hi, i'm ozwald. hello ozwald.er meeting had 12 of 19 participates indicating that. if even some of this increase word to state, i think the fed could be done. lisa: that was richard clara to speaking about how his view would have changed view would have changed -- view would have changed. tom: i have richard clarida to in a panel. we are doing a one-on-one in october. i cannot wait to talk to him about the market outcomes if we get a clara to new level of interest rates. lisa: the pressure on whether to allow the economy to go along even if it means a two point something inflation rate. i want to talk about the bank stocks because you were talking about them and how they have been underperforming. to give you a sense of the degree of underperformance, jp morgan shares down more than 8%, citibank 13%, bank of america 7%, and goldman sachs down almost down -- down almost 13%. is this simply a profitability question or is this something more fundamental that has to do with business slowing down and potential risk in

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hi, i'm ozwald. hello ozwald. pam, you are a rock- i wasn't going to say it. ♪♪ nice footwork.g live sports never used to be this easy. now you can stream all your games like it's nothing. yes! [ cheers ] yeah! woho! running up and down that field looks tough. it's a pitch. get way more into what you're into when you stream on the xfinity 10g network. jonathan: live from new york city. here is your equity market. backed down by 0.6% following a decent week of gains in the s&p. best week of gains going back to early september on the nasdaq. up 1.75%. it down this morning but up last week even with a major move in the bond market. yields this morning, just a little bit lower by a single basis point. the treasury market is closed after a week where we saw the 10 year climb by more than 20 basis points last week for a fifth straight weekly gain. the 30 year yield higher by more than 60 basis points. tom: we will pick it up tomorrow with a lot of data and really pick it up in asia tonight. the idea there is a lot of debt out there. there is a ton of debt out there. jonathan: the dol

hi, i'm ozwald. hello ozwald. i wasn't going to say it. ♪♪ >> the federal reserve will have to raise rates higher which will probably mean we will have a soft or hard landing by 2025. that's the only way i see we are arresting this but i don't expected anytime soon. lisa: the blackrock ceo larry fink as people tried to grapple with the idea of re-inflation next year. we have been talking about this. manus cranny and cameron dawson are with us. we see a bit of a lift and markets and we see earnings coming out. it's been catching my eye, everything has been beating. cameron: much better than expected. it's looking at the consumer better than expected, industrials better-than-expected and we just got sherwin-williams that raised guidance significantly. that's a housing related stock. people are spending more on their house so clearly the consumer in these earnings is holding up better than expected. summer confirming that better retail sales we got in september. manus: do you think the story about excess savings runn

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hi, i'm ozwald. hello ozwald.t. ♪♪ ♪ (captivating music) ♪ (♪♪) (♪♪) (♪♪) (♪♪) (♪♪) the first law of thermodynamics states that energy cannot be created or destroyed. (♪♪) but it can be passed on to the next generation. (♪♪) >> we are closely monitoring how the situation evolves. it is too early to say. we have seen up and down of oil prices. we have seen some reaction on markets. very clearly this is a new cloud on the horizon for the world economy. lisa: that was the imf managing director in marrakech where she is alongside the world bank as well as international monetary fund at their annual meeting. tom keene will be there. will be catching up with him tomorrow when he does host an awesome panel and i'm sure he will be trying to catch up with a host of luminaries. jonathan has gone to prep for the 9:00. i am here alongside annmarie hordern. we are pleased to have you here on a date that is pumped with uncertainty on the drumbeat of the catastrophic life -- the catastrophic loss of life and families in the midd