that is dancer susie from richard bernstein l susie from richard bernstein investors in your work.a giants have been turning in lower profits is because the slowdown in revenue. many businesses have been trying to reduce spending in these times and at traditionally advertising revenue would be the first things that are cut. the president of the advertising company wpp in australia and new zealand says spending on advertising is rising and certain sectors. we advertising is rising and certain sectors.- advertising is rising and certain sectors. ~ ., certain sectors. we are looking closely and _ certain sectors. we are looking closely and are _ certain sectors. we are looking closely and are cautious - certain sectors. we are looking closely and are cautious please optimistic things will be ok but we have a good outlook for a few sectors. travel and leisure are holding, finance and banking are advertising and the retail sector is steady. so far, so good, and a lot of our clients recognize they learned a great deal in the pandemic which is the worst thing you can do is cut your advert

richard bernstein and ron is a cnbc analyst, and he was the partner of tom bergeron yesterday on ourclear rich, welcome. >> thank you i'm not a guru by the way. >> i hate that word. guru rich, you can be a guru. you can be a swami, whatever you want why is it not good in your view for the market to be as concentrated as it is? >> what people forget is when you're at the beginning of a bull market you have a broad economic advance that favors a lot of companies, a lot of companies benefit from that. i as the cycle goes through, you go through survival of the fittest. as the cycle gets older and it decelerates, we go into narrower leadership because fewer companies can grow that would be fine if the earnings picture wasn't so bad the earnings picture is good, in fact, credit swiss pointed out that value stocks are surprising more and higher than growth stocks yet we're seeing this narrow leadership that suggests this is mostly speculative. >> how do you react to that, ron? >> i don't disagree. it's difficult for me to assess which cycle we're. it seems like we're in the beginning of th

ben whaler nailed it in his note, we are talking about this poor sentiment from richard bernstein andn -- and suzuki -- dan suzuki. jonathan: i think it is time for new leadership and a very different equity market to be invested in. tom: the week, i will take it over to may 4 and the apple earnings as well. we have to have team coverage of what we do in switzerland that is always the case. manus cranny always ponies up for the zurich $25 bowl of parsnip and coriander soup. that is how expensive zurich is. let's start with credit suisse behind you and ubs off of your right shoulder how many bodies will go out the door? mannus: probably enough a lot more than you, myself and john anticipate. the dissection of this institution was around 9000 jobs. by the time the new incumbent, returns to ubs, many years ago we sat down in an interview and he said i have to lay off 10,000 people and it never got there. the numbers will be much more than 9000. if you want to understand the smell of fear, it is in the price tag of 61 billion swiss francs walked out the door of the bank. that is nowhere n

dan suzuki at richard bernstein advisors. this week is it is a process, not an event. seems to be a trend. this or what will happen with financial conditions. they want it all at once, a special program. lisa a: a sunday special. to tell us what to expect. if it will not be delivered this way. how do you remain patient when you want a story borne out by fax it is not reflected in the market action? jonathan: you nailed it. it is so frustrating to mail this and get the market call wrong. look karo was talking to us from pbs earlier this morning -- luke caro was talking to us from pbs earlier this morning. the tech part was not a future. lisa a: this is why it was a difficult market because every time you look at fundamentals and try to come up with a story, you get your face ripped off. it is a difficult moment and that is what that is facing. people who are looking at the fed guidance and got frustrated with the lack and now we have from andrew hollenhorst that they will be wordlessly watching. i love that phrase. jonathan: s

journalist carl bernstein is the author of chasing history kid in the newsroom and cnn contributor john dean from the white house counsel to richardon. so, carl, what does it say to you that, among other laws, the presidential records act is looming so large over the former president's legal faith. what has all along because, among other things, the president of the united states and as he was leaving the presidency seems to have directed the illegal movement of these documents at mar-a-lago, but i want to take a little bit of an issue in the following way with what you said his lawyers may think that this is the primary vulnerability. but in fact he has three locomotives bearing down on him. former president trump legally and probably the most serious is the january 6th insurrection that the special counsel is looking at, and that investigation is premised on the huge volumes of fact about the insurrection about trump's role. in seditious lee trying to stop the peaceful transfer of power to the next president of the united states that case itself there is a record, like the senate watergate committee developed a record that led t