i am ritika gupta. this is bloomberg. ♪ am ritika gupta.s is bloomberg. ♪ >> [indiscernible] i think this weekend is likely to see us improve the debate and voting on this measure as soon as the weekend, slated this monday. jon: dick durbin there. alongside tom keene and lisa abramowicz, i'm jonathan ferro. hitting the price action in your equity market on the s&p 500. futures up 12 and we advance by about .3 percent. david kostin in the team raising their price target to 4700 from 4300 for year. into the bond markets, yields unchanged, euro-dollar doing not a lot, 1.1842. positive 0.04%. it claims up two hours and 12 minutes away. tom: important after the tough adp number. i want to point out the vix is constructive for the bulls. as you well know, and this is a point of massive argument here at team surveillance, amory harden moving from london to washington, it has been a strain, the shift from -- tea is horrible, garbage water, and she has coffee to this morning because she has been reading over 250 infrastructure amendments. how do the

i'm rick agrippa. -- i'm ritika gupta.s is bloomberg. ♪ >> at the end of the day, there's got to be good, renew motive job opportunities for middle class and lower income americans paying rising wages. that is what we have, with a robust recovery behind us, strong tailwinds, strong job gains, wages going up, and very closely connected to the rescue plan. tom: jared bernstein of the council of economic advisers, speaking of divide and plan, a $1 trillion overlay expected there. we spoke in the last hour about afghanistan, about and -- about an eventful day near the kabul airport. we turn now to annmarie hordern. i look at the infrastructure bill, and what is so telling to me it is it is nowhere to be found in the debate of the zeitgeist. we had a vote. policy -- pelosi won, and it is gone. how gone is the introductory bill until september? annmarie: you make a good point. the is really prime minister is visiting today and having a meeting with the president, but we are seeing a little bit of scoop come out in terms of what

powered by more than one -- i'm ritika gupta.loomberg. ♪ ♪ >> we are looking, not i believe to lockdown, but to some pain and suffering in the future because we are seeing cases go up, which is the reason we keep saying over and over again, a solution to this is get vaccinated, and this would not be happening. jonathan: dr. anthony fauci there speaking to abc over the weekend. i'm jonathan ferro. this is the monday morning price action on the s&p. six months of gains. we advance half of 1%, yields unchanged on the 10 year. surprising to see the aussie on top. a stronger aussie in the mix, even on the back out of weaker than expected data out of china. the euro dollar advancing some one .5%. i want to work out how the dollar trade lines up with the bond market. tom: on friday and the jobs report, -- right now, what did you do this weekend? which beverage of choice did you have? what fancy restaurant did you go to? joshua sharfstein is expert in the doing of medicine, one of our leading experts on this pandemic. he was in south bal

i am ritika gupta. bloomberg. ♪ >> there are a very limited number of countries that have begun to administer third doses, which we would call booster doses. the evidence is evolving, it is moving. we do not have a full set of evidence around whether this is needed. jonathan: day by day -- tom: day by day, movable story. catherine o'brien at the world health organization addressing our fear. we spoke earlier with a chemist from john hopkins. now lisa abramowicz and tom keene with an important discussion on a concept i totally disagree with, which is herd immunity. sam fazeli with bloomberg intelligence wrote a tour de force yesterday on herd immunity. sam fazeli, is herd immunity a valid concept or is it a theoretical we will never get to? sam: thanks very much for having me back on. it is a calculation that can be made on paper using x number of variables that tell you what you think you will need to do to try to stop the transmission of a virus. while you are doing that, the virus is changing, people

i am ritika gupta.s is bloomberg. >> we engaged with the taliban to enable our rescue operations. going forward, any engagement with the taliban in cabell will be driven by one theme only, our vital national interest. the taliban six international legitimacy and support. our message is, any legitimacy and support will have to be earned. tom: the secretary of state on the exiting of afghanistan. jon ferro is off today. x c lisa abramowicz and tom keene, we welcome you all across the nation and worldwide. we have to pause here. those of us clearly remember 1975. those close memories, i was truly taken by how -- i was to see that memo on twitter from the military yesterday afternoon. lisa: the idea that this was the end of the 20-year foray into afghanistan by the u.s. certainly not the end for service members, dealing with the ramifications. there is the question now of what is to come. does the u.s. to negotiate with the taliban, negotiate with close neighbors like pakistan? how do we move forward in ord

i'm ritika gupta..s. senate is on a path could lead to about this week on that $550 billion infrastructure package. negotiators finished the text of the bill yesterday, a crucial step towards eventual passage. republican senator mitt romney says neither side got everything they wanted. after the senate votes, final congressional action wouldn't take place until after a recess. the u.s. has formally blamed iran for a deadly attack on an israeli linked tanker. secretary of state antony blinken says there will be an appropriate response. experts say they believe the ship was struck by a drone, killing two crewmembers. iran has denied response ability. it is the biggest acquisition ever for square. the digital payment platform has agreed to pay $29 billion for australian by now -- australian buy now, pay later company after pay. the american gymnastics star simone biles withdrew from an event because of mental health issues, but she will compete in the beam tomorrow. she won the bronze on the beam five yea

i'm ritika gupta.he surge in covid cases is increasing pressure on u.s. drug regulators to fully approve the pfizer coronavirus vaccine. it was the first one to apply for full licensure in the country. approval could help the biden adminstration ramp back up its immunization drive and reassure holdouts that the shots are safe. a key senate republican has tested positive for coronavirus. that could delay the democratic plans to pass the infrastructure bill this week. similar lindsey graham and at least four others attending an event over the weekend. graham will quarantine for 10 days and miss votes on the legislation. if others test positive, that could mean they delay the vote timetable altogether. the tokyo olympics, american star simone biles made an emotional return to competition and ended up winning the bronze medal in the balance beam final. that came a week after she withdrew from several events to focus on her mental health. it is her seventh career olympic medal. she won it by doing a watered

i'm ritika gupta. prime minister boris johnson will press the biden administration to delay the deadline to leave afghanistan to allow for more evacuations. the u.s. and its partners have now flown out more than 30,000 people from kabul since august 14. u.s. labor secretary marty walsh had high hopes for september, but the delta variant's aggressive past has shaken his expectations for a rapidly recovering labor market. in an exclusive interview with bloomberg, walsh says he's concerned about the resurgence of the coronavirus dragging on the workforce and economic growth. in tennessee, at least wanted to people were killed and dozens are still missing after record rains and floods surging through rural areas. after 17 inches of rain fell during a 24 hour period, about 60 miles west of nashville, rescue crews are searching for survivors. bitcoin has gone over the $50,000 threshold for the first time since mid-may. the world's largest digital coin is now up 70% since a july low. crypto has seen market va

. ♪ ritika: with the "first word news" i am ritika gupta.he house has adopted that $3.5 trillion resolution. the agreement puts to rest a rift between progressive and conservative democrats. how speaker pelosi was able to broker a deal that would put forward a bipartisan info structure built by the end of next month. senate democrats putting forward a policy that would penalize companies removing profits aboard. the finance committee chair will outline a tech system for multinational corporations. democrats say companies have been able to move profits and jobs outside the u.s. president biden is sticking to his plan of removing all u.s. troops from afghanistan by august 31 but he has ordered his national security team to come up with contingency plans if he decides a delay is necessary. he says completing the u.s. mission by the deadline depends on the taliban continuing to cooperate and allowing access to the airport for those the u.s. is evacuating. a new study from the u.k. supports the concept of booster shots for honorable people. the u

i am ritika gupta. bloomberg. ♪ >> we look for a range of 1.25 to 1.50 for the summer, once the debt ceiling is hopefully resolved in the early fall in the fed announces a taper we think those factors can take us gradually higher. we think we can get to 1.70 and above later this year. tom: we just mentioned the bullish tone we are seeing from so many. doug, thanks for listening and watching. he says they are wrong, they are wrong, they are wrong. we digress. we each have our story of apple. i have too many to waste your time with. kailey leinz and i go to barry ritholtz for one story on apple on this anniversary of steve jobs walking away from the company grievously ill. barry, what is your best apple story? barry: i was a big mac fan for a long time and i got a look at this newfangled ipod and i think this is the new sony walkman. i want to say apple was $15, with $13 in cash. my whole firm bought a ton of it. i held onto it and made fun of the guys who sold it when it was up five dollars. i sold it it

i am ritika gupta. this is bloomberg. ♪ >> if anything, it is worse. now it is had a chance to regroup. it now has access to american arms and it has proven its resilience. the opposition in afghanistan it is weaker than it was. it is as bad. no sign of any mellowing by the taliban. jonathan: the taliban in 2021. that was richard haass on the council for relations. from your city, alongside tom keene and lisa abramowicz, i'm jonathan ferro. we are down 17 points on the s&p. negative .4%. yields lower about .5%. jumping -- by around half a basis point. data out of china. downside surprise. crude is lower, $66.50. down about two dollars on the session. tom: what we tried to do, john, lisa, and i are committed to bringing you the expert. on china the expert is jonathan spence and his classic the search for modern china. what is the search for modern china for afghanistan? it is thomas barfield holding court in anthropology at boston university and plight -- and president of the american institute for afgha

i am ritika gupta. bloomberg. ♪ >> like so many of the passenger airlines are ridership contracted significantly in march and april of 2020. now we are at 65 to 70% recovery , with stronger bookings into the fall season and beyond. good ridership recovery which underscores the essential nature of the services we provide. tom: william flynn of amtrak, the chief executive officer on where they stand on infrastructure as well. what he knows is he needs people from tribeca to go up to penn station and climb on board amtrak, particularly the new and wonderful morning hand development. they have to live somewhere. we saw that yesterday with steve ross coming out with a huge announcement of optimism on new york city. with blackstone it is a quarter of a billion dollars to redo. truffles tribeca. what kind of name is that for a building? honest to god. truffles tribeca is what they call it. he used to play truffles in australia. scott crowe joins us with center square investments. blackstone, a quarter of $1 bi

i'm ritika gupta.al-mart posted second quarter results that beat expectations. the world's largest retailer also raised its sales forecast for the year. results show that demand isn't disappearing following last year's sales boom. demand for shopping was expect it to slow as customers returned to stores. another sign that the do-it-yourself boom has slowed from elevated levels earlier in the pandemic. home depot reported second-quarter results that were weaker than expected. sales missed estimates. home depot declined to release a forecast for fiscal 2021. taliban are urging women to join the new government. when the taliban were previously in power, women were largely confined to their homes. in haiti, authorities now say the earthquakes killed more than 1400 and injured almost 7000. several thousand homes were destroyed. now haitians are pricing for tropical storm grace, which could lead to flash flooding and mudslides. in new zealand, prime minister jacinda ardern says the country will go into a lev

i'm ritika gupta.resident joe biden's big plans for the economy are about to pass their first meijer legislative test. the group of democratic and republican senators are prepared to approve the infrastructure program. the vote is set to begin like this morning. democrats will be able to bypass republicans on the next part, a three point $5 trillion positive resolution that would expand health coverage, childcare, and education benefits. u.s. coronavirus waves that started in low vaccination states in the ozarks and deep south has engulfed the country. cases and hospitalizations are at their highest since february. 30 eight states have transmission levels considered high by the cdc. the other 12 states and washington, d.c. have trans mission rates in the second-worst category. the european union has decided not to reinstate restrictions on non-essential travel from the u.s. despite new covid cases in the country exceeding the bloc's threshold. the guidance from the eu's nonbinding. the government of ea

i'm ritika gupta. this is bloomberg. ♪ ta.berg. ♪ ♪ >> what we have seen in the last 48 hours of trading, going back to friday, is confirmation of a less rosy cyclical outlook, which is playing more into the longer run structural theme that justifies low rates and lower yields. jonathan: steve major, hsbc managing director and global head of fixed income research. from new york city this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. your equity market down 21. we declined by about 0.5% on the s&p 500. yields lower at 1.2250%. lower by a basis point on friday. tom: let's take 30 seconds here before david wilson to stop -- to talk steve major here. the delta back five or six years is without question to a lower yield. that is a structural call of mr. major. but what is important to me is the only time we have been lower than this yield is through 2020, through the pandemic. where we are right now is hugely unusual. jonathan: the bullish call is that a tolerance for higher interest rates has

i'm ritika gupta. this is bloomberg. ♪ pres.: america, this is how we truly build back better. this bill is going to put people to work, modernizing our roads and our highways and our bridges. jonathan: the president of the united states. from new york city this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. here's your price action in the equity market on this inflation day in america. your equity market is lower, negative three on the s&p, down by about 0.1%. yields higher around 1.37%, well off the lows of a week ago with a 1.12% handle. turnaround for crude through the last week. it was down almost 8% on the week, the biggest weekly loss on the year. this morning, down by 1%, back down to $57.61 -- $67.51. national security advisor saying opec+ must do more to support the recovery, and this from brian deese, asking the ftc to monitor gasoline prices for illegal conduct. this coming out of just the past 20 minutes. tom: this goes back to when you were driving that jupiter you had in englan

i'm ritika gupta. international energy agency cut forecasts for global energy demand sharply and is predicting a new surplus next year, quite a reversal. a month ago, the iea warned of a damaging spike in prices and in its monthly report, the agency said its output boost from opec-plus is climbing with slower demand growth and higher production from outside of the alliance. u.s. drug regulators are set to approve his third does of coronavirus vaccine for people with weak immune systems. a new study showed the benefits of an extra shout in transplant patients. it significantly raised antibody levels. in the u.k., fully vaccinated adults will no longer be required to self-isolate if they come into contact with a coronavirus case. the new policy begins monday. the relaxing of the so-called pingdemic, when alerts caused havoc for british food producers, retailers, and p ubs. china regulation -- that provided a sweeping framework from the border rack key industries. that has left investors reeling. global n

i am ritika gupta.tyline vote was 50-49, and it marked a debate among democrats and moderates and progressives over the details. the first woman to be new york governor will have to clean up after her predecessor. today governor kathy hochul will be sworn in and about two weeks. she will face a pandemic on the budgetary crisis, and an economic recovery. governor andrew cuomo says he is stepping down because sexual harassment allegations against him or prevent him from governing. millions dollars in crypto currency. the network lets users swap tokens across multiple blockchain's. tens of thousands of people are affected by the hack. and his south korea, the number of new coronavirus cases went over 2000 in one day for the first time. it was at more than 42% from monday. a spike in the delta variant and the low vaccination rate are blamed. global news, 24 hours a day, on air and at bloomberg @quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. this

i'm ritika gupta.sident biden is laying out an ambitious goal today. he wants half of all vehicles sold in the u.s. to be emission free by the end of the decade. automakers say that can only be achieved with government investment in charging stations and other infrastructure. china has imposed new travel and movement restrictions in an effort to stop the spread of the delta variant. there have been more than 500 symptomatic cases so far. public transport and taxi services were curtailed in 144 of the worst hit areas nationwide. beijing train services and subway service was limited. more than 150 wildfires are raging in greece today. authorities ordered more evacuations from an island near athens. firefighters are being hampered by temperatures over 100 degrees and strong winds. fires have threatened the outskirts earlier this week and are now under control. glencore says it could dramatically increase returns to shareholders going forward. the company is cashing in on the high prices for the commoditie

i am ritika gupta. this is bloomberg. ♪ i am ritika gupta. bloomberg. ♪ >> it's gonna come into schools, spreading unless there are a lot of protections. in many cases, there are not. we see huge numbers of kids quarantined and schools shutting down as teachers get sick. we have to avoid that if we are going to have a successful school year. tom: that is john hopkins on schools yesterday. it is august 31 and the schools are front and center. lisa abramowicz and tom, great guests coming up. i want to point out that john bolton will join us here on afghanistan and particularly his focus on pakistan. i believe we will do that in an hour and a half. a mr. doll joe with us -- dr. am esh adaljia. america is bundled in with kosovo, lebanon, and montenegro. it is about the idea of travel. when you look at the regional disparity of how we are dealing with this epidemic, are you surprised europe tells us we cannot travel there? >> are not surprised. we know political leaders often run for travel bans and restrictions as their first way to reassure dome

i am ritika gupta.dent biden and israel's prime minister will meet at the white house the day after the original meeting was delayed all living the bombings in afghanistan. -- following the bombings in afghanistan. the u.s. favors a diplomatic agreement to stop iran's nuclear program. israel said it may use secret tacts. an israeli study showed people who recovered from a bout of covid early in the pandemic have a lower risk of contracting the delta variant and those who received the pfizer beyond tech vaccine. the results are good news for patients who are already successfully -- have already successfully battled covid. try not released most copperheads of warning yet against big corporations. a spelled out how the 996 practice is illegal. that is working employees from 9:00 a.m. to 9:00 p.m. six days a week. there has been a backlash against the growing to man's of the private sector. dell is showing the personal computer market is showing -- computer market is suffering. dell was more bullish about t

i'm ritika gupta. this is bloomberg. ♪ i'm ritika gupta.omberg. ♪ >> it has never been this unrewarding. two, three, four years ago people were asking me, are we in a high-yield bond bubble? no, we were in a bond bubble. today we are in and everything bubble. jonathan: we are in an everything bubble. the words of legendary investor howard marks of oaktree capital, the cofounder and cochairman. good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. futures plus two on the s&p. we advance 0.06%. we are 42 minutes away from the payrolls report in america, and yields are higher by three basis points to 1.2550%. the estimates are between -- the median estimates are between 850,000 and 875,000. tom: part of our agreement is we have to do a real yield brief every friday to get ferro ready for his afternoon soiree. we do that now with the former president of the federal reserve system, with goldman sachs for years, bill dudley. you are focused entirely on the land of jon ferro, which is "the real yield. how do we get out of the

i'm ritika gupta.s is bloomberg. ♪ ♪ >> the momentum of a $20 trillion plus economy in the u.s., the resilience that has been the result of the fed rescue program, and probably an overabundance of fiscal stimulus, tells us that we got further upside here. jonathan: that is one of the most bullish on the street right now, looking for 4700 on the s&p 500. alongside tom keene and lisa abramowicz, i'm jonathan ferro. here's your equity market right now. futures down 0.1% on the s&p. in the bond market, down a basis point to 1.1621% on a nominal 10 year yield. on a real yield, -1.21%. tom: we all have different data screens on the bloomberg terminal. yours looks different than lisa's looks different than mine. but the fixed income section on my screen, i am sort of saying, really? jonathan: it is europe, it is asia, it is japan. and lisa, the short squeeze in the bond market, and a victim of that short squeeze, too. lisa: this hedge fund came out with a 10% loss in its macro fund, and the idea being this ha

i'm ritika gupta.he taliban are urging women to join the new government. a member of the taliban commission said the group does not want women to be victims. when the taliban were in power previously, women were largely confined to their home. the u.s. is embracing a high-stakes relationship with the taliban. a growing rivalry with the u.s. has china's president, xi jinping, seizing any opportunity to push back against u.s. dominance. in haiti, earthquakes hit more than 400 people and injured almost 7000. now haitians are bracing for tropical storm grace, which could lead to flash flooding and mudslides. in new zealand, the prime minister said the country will go into a level four lockdown, the most restricted kind, after authorities detected their first case of coronavirus in 170 days. new zealand has only been in this lockdown once before. warren buffett berkshire hathaway has trimmed its -- while roosting its stake in kroger. global news, 24 hours a day, on air and on "bloomberg quicktake," powered

i'm ritika gupta. this is bloomberg. ♪ matt: it is 1:00 p.m. in new york 7:00 p.m.n berlin, and , 1:00 a.m. in hong kong. i'm matt miller. welcome to bloomberg markets. here are the top stories we are following on the bloomberg and from around the world. $550 billion bill. we will discuss its impact with the head of municipal and public finance strategy at citi. goldman jumps its junior pay. and we will preview mazda's july sales data, discuss the impact of the shortage of chips. let's get a check of what is going on in the markets. the s&p still getting but only .1%. ism manufacturing numbers were a little bit soft and as you saw, a bit of a selloff in stocks. the same is true for the 10-year yield. before we got those numbers, we were up above 1.20. now we have seen the yield come down about six basis points, 1.16. the dollar index is still done but only by 1/10 of 1%. we see some big drops in commodities after the economic data we saw come out today. senate lawmakers say they would like to vote on the bipartisan infrastructure package on thursday, but it could ea

i'm ritika gupta. the surge in covid crisis is increasing pressure on u.s. drug radio lighters -- drug regulators to fully approve the pfizer vaccine. it was the first to apply for full licensure in the country. a full approval could help the biden administration ramp act up its immunization drive and a holdouts that the shot is safe. alibaba posted quarterly avenue that missed estimates -- quarterly revenue that missed estimates. the commerce giant said it was increasing its share buyback program by about 50%. that is just $15 billion. pia partners will pay $3 billion for naked juice and other juice brands. juice sales have been under pressure because consumers are cutting back on sugar consumption. at the tokyo olympics, american gymnastics star simone biles made an emotional return to competition and won the bronze in the balance beam final. she withdrew from several events last week to focus on her mental health. this is her seventh the olympic medal. global news 24 hours a day, on air and on bloom

i am ritika gupta..s. -- authorized an actor coronavirus dose to people with weakened immune systems. they include organ transplant percipient in patients with cancer. in afghanistan, the taliban is putting pressure on the embattled national government weeks before the u.s. and its mission there. taliban forces captured two major cities. they are estimating to hold over two thirds of afghanistan. the u.s. plans to send and 3000 troops to help evacuate some personnel from the american embassy in kabul. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am really good group to. -- i am ritika gupta. this is bloomberg. ♪ >> the increased tempo of the taliban nil at their engagement and the increase in violence and instability across afghanistan is of great concern. we are further reducing our civilian footprint in kabul in light of the situation. as we have long said, we are committed to supporting afghanistan and

i'm ritika gupta.his is bert. -- this is bloomberg. ♪ >> gross is -- growth is strong enough to be supportive of corporate earnings, but not strong enough that it leads to inflation and meaningful fed tightening, so it could be a cycle that goes on for some time. jonathan: sounds a bit like gold box -- like goldilocks there. alongside tom keene and lisa abramowicz, i'm jonathan ferro. your equity market totally unchanged on the s&p 500. yields in about a basis point almost. let's round this down for you. 1.316 9%. trying to generate a bit of excitement. $57.57 on wti, up a further 0.5%. on the morning, not much going on across this market. tom: we are watching any number of stories right now, but certainly the large story in washington, we wanted to get a breath of fresh air always with ag invest -- with ag f'investments g -- with agf investments' gregory valliere. i look at the smith, who we spoke with earlier in minnesota. there are a lot of people who have to step very carefully in these two proposa

i'm ritika gupta. this is bloomberg. ♪ is is bloomberg. ♪ >> we believe that we are down to a population of 300 or fewer american citizens who have yet to get out. we have evacuated more than 5000. we evacuated more than 300 just yesterday. we believe there is still an opportunity for american citizens to get to the airport, get on planes, and get home. tom: jake sullivan, u.s. national security adviser, on cnn this weekend, managing the message for the weekend. annmarie hordern in washington makes clear it will be an eventful morning for the white house, and it is a street as to what august 31 actually means on this 30th of august. taylor riggs and for jon ferro, lisa abramowicz, and tom keene. joining us now, peter trubowitz, with all his good work over the years at the university of texas at austin. we talk to afghan experts, i want to talk to you about united states experts. i go back to your landmark, politics and strategy. do we have a strategy and foreign policy that gets us out to 2023, a year

i'm ritika gupta.esearchers say vaccines targeting the highly transmissible delta variant main dow be needed. a study looked at recent numbers in england. they found the antibodies raised by current shots are less effective. in china, the widest outbreak since the start of the pandemic is hampering tourism and spending during what is the peak summer holiday. that has analysts reviewing their economic growth projections. it has spread to almost all of china's 32 provinces. the british navy says a potential hijacking of a ship off iran has ended. unidentified people were said to have boarded the ship yesterday. those boaters were said to leave today. the incident took place days after a possible current strike hit an israeli operated ship in the region. two sailors were killed, and the u.k. says iran was probably behind the attacks. congressional democrats are reportedly seeking $550 billion in climate damages from big polluters. according to "than your times, it would tax companies like exxon, chevron m

i'm ritika gupta. this is bloomberg. ♪ >> we will have a vote tonight at 7:30, then another vote. sometime on tuesday. it could go quicker, but it is going. jonathan: we are getting closer. louisiana senator bill cassidy speaking to cnn over the weekend. alongside tom keene and lisa abramowicz, i am jonathan ferro. down seven points on the s&p, negative zero .16%. all-time highs through much of last week on the s&p 500. the yield higher through friday, lower through this morning. down by about a basis point to -- and the euro-dollar not doing much. the story of the morning, where the price action is, is in the commodity market. crude down to 65.50. tom: gold with some dynamics as well. the tradable readjustment is profound off what we saw friday in jobs. it is august in washington. leading the headlines at the washington post is fallout boy will not appear at the national stadium with green day and a bunch of others. and we heard during -- annmarie hordern actually -- absolutely crushed. is a perceived

i'm ritika gupta. has gone over have to thousand dollars for the first time since mid-may -- over $50,000 for the first time since mid-may. the total crypto market has seen its value rise almost $1 trillion in the last month. companies around the world are so flush with cash that they are racing to bring back dividends, according to a study from data henderson investors. payouts are expected to reach almost $1 trillion this year, the second highest total ever. dividends will hit prepend them in -- pre-pandemic highs within 12 months. pfizer has agreed to by all the shares of cancer drug maker trillion, valued at a 118% premium to trillion's price. that is your bloomberg business flash. guy: the fda has granted full approval for the pfizer/biontech covid vaccine. bloomberg senior stocks editor dave wilson has more. dave: you are talking about a vaccine that has been sold in the u.s. under emergency use authorization for the past nine months, so now it has full approval, it raises the possibility of more

i'm ritika gupta. this is bloomberg. ♪ >> i think there is some reason to be cautious, but we do think that activity levels and hong kong will can benefit from some of the tension here sitting at the moment between china and the u.s. jonathan: that was the hsbc cfo, leaving behind a difficult for hsbc and others dealing with what is happening in china. live on tv and radio this morning, alongside tom keene and lisa abramowicz, i'm jonathan ferro. here's your equity market, up 19 on the s&p. we advanced by 0.4%. in the bond market, 1.72% -- 1.2 to 70% -- 1.2272%. tom: ism, doesn't matter this morning? jonathan: yes it does. what does output look like? what do prices paid look like? all of that matters. tom: we will have coverage for you on radio and television. my book on the summer was of president xi, and she called it the third resolution. somewhat expert on the gray new larry is leland miller -- the gray new larry t is leland miller ash the granularity -- the granularity is leland miller. how does w

i am ritika gupta. this is bloomberg. ♪ i am ritika gupta. bloomberg. ♪ >> the challenge with boosters is knowing who you already vaccinated, where they are, and how you administer a second does of vaccinations. it requires micro planning. what is wearing too many of us will be that by the time we need the booster, the infrastructure will not be there. tom: that is a johns hopkins expert in medicine. there is the simplicity of the day after day grind of this pandemic, and it is time now to talk about the little critters that we are scared of. stuart ray is more than interesting. he is an infectious disease expert at johns hopkins, someone familiar with hiv, hepatitis c, but far more the path from caltech to vanderbilt and research in all of these little critters. when you hear the simplicity of the media and pond and tree talking about this pandemic, what is the observation you want to tell us about this odd and unique virus? >> it is great to be with you and i have to say we have learned a lot. the thing i think we should understand is we ne

. ♪ ritika: with the first word news, i'm ritika gupta.sident biden is telling terrorists the u.s. will hunt them down. bombings outside the kabul airport killed at least a dozen u.s. service members. a divided u.s. supreme court has lifted divided administration's moratorium -- the biden administration's moratorium on evictions. that affects the millions of people who fell behind on the rent during the pandemic. they said the cdc lacked the authority to impose the eviction moratorium. moderate and progressive democrats are on a collision course over how to pay for president biden's economic agenda. the president has proposed tax hikes on wealthy households and corporations to pay for trillions in new spending. progressive's are actually seeking more, but moderates want fewer tax hikes and are hesitating on some of the spending. that's where the fight will come in, starting next month. china reportedly is taking steps that could support the ambitions of tech firms that want to list abroad. dow jones reports the government plans to ban comp

i'm ritika gupta.his is bloomberg. ♪ >> the threat is real. it is acute, it is persistent. our commanders on the ground have a wide variety of capabilities that they are using to defend against a potential terrorist attack. we are working hard with our intelligence community to try to determine where an attack might come from. tom: jake sullivan, u.s. national security advisor come with cnn. jake sullivan, a really -- of really pristine academics, being put to test with crisis in afghanistan. a set of headlines which we are going to discuss with michael mckee in half an hour, but they have been widely anticipated. the toolkit of china involves their unique monetary policy. lisa: a lot of people have been inspecting china to cut rates further. here the headlines are that they are calling for efforts, the pboc calling for efforts to push down real lending rates, pledging support to the economy with appropriate money growth and vowing to keep stable the growth of credit. we have seen the credit impulse sh

i'm ritika gupta.d on and off the floor to discuss final changes to the infrastructure bill, 2700 pages long. even if the bill is passed, it faces an uncertain future in the house. public universities in the u.s. face student lawsuits over coronavirus vaccine mandates. according to the dow jones, lawsuits challenging vaccination requirements have been filed in indiana, connecticut, california, and massachusetts. students claim they have a constitutional right to go to college unvaccinated area south africa's former president jacob zuma has been admitted to a hospital. officials are saying that he is under medical observation. he was sentenced in july to 15 months in jail after being convicted of contempt of court for defying order testify at a corruption inquiry. his imprisonment triggered protests that morphed into riots and looting, and which at least 354 people died. he is due to appear in court next wednesday. the u.s. enjoyed a hiring spree in july, according to economists surveyed by bloomberg ar

i am ritika gupta.his is bloomberg. ♪ >> there is a lot of heartbreak associated with this departure. there still would have been people disappointed. it is a tough situation. tom: the leader of our military effort in central asia, kenneth mckinzey. green on the screen. watching markets closely. john bolton is scheduled to be with us for an hour -- in an hour. emory, are we on good terms with any part of pakistan? >> complicated question. we talked about this yesterday. at the moment it is not so much good terms. president biden has yet to even call his counterpart. there is a lot of distrust between pakistan and the u.s. this stems following the capture of osama bin laden. i believe the new york times reported that when the taliban came to kabul and went to the afghani central security intelligence the language spoken was not pashto, it was another language, and many believe it was pakistani intelligence along with the afghans taking those details. tom: speaking back to the partition of india and pakis

this is bloomberg -- i'm ritika gupta.s is bloomberg. ♪ ♪ >> was the reopening of parts of the economy, we are all experiencing supply disruptions that are raising prices, and they are raising inflation concerns, really understanding where there is now a change in dynamics again in the aftermath of the pandemic is a vital interest. jonathan: the red a master of the federal reserve bank of cleveland asked loretta mester, the federal bank -- loretta mester, the federal reserve bank of thing that -- of cleveland president. on the s&p, we are down a little more than 1%. yields are higher on twos. this is the moves by 2% on wti to $66.91. jake sullivan, the national security advisor, saying opec+ should look into higher production. tom: we like to take real pride in our booking. we have a team of 30 people that help us every morning particularly those in london that were able to welcome aaron will -- to welcome ellen wald. if you think about the prize from decades ago, ellen wald holds the high ground on saudi arabia. her book

i'm ritika gupta.his is bloomberg. ♪ >> the question is, are we on track to fulfill our objective to bring out our people? to bring out so many of those afghans who helped us and are at risk? we believe that we are. tom: mr. sullivan, the u.s. national security advisor. seen often these last few days. it is a movable feast in afghanistan. this crisis continues. joe matthew has followed this. i cannot say enough about the effort and mr. matthew driving it forward. joe, thank you so much for joining us. john hudson changes the debate this morning. that director of the cia traveled to kabul and met with that guy. why is it such a big deal that the cia director, our most decorated diplomat, is sitting down with a leader of the taliban? joe: it certainly tells us how the world has changed. in afghanistan, he was arrested by the cia years ago. now they are meeting in the same room. it all has to do with the deadline that is one week from today. we have thousands more to evacuate. there is not pushed to exten

i am ritika gupta. this is bloomberg.o talk about what is happening with the impact of what is coming out of china. the volatility triggered by the regulatory concerns that have been generated by beijing. we are joined by leila fourie, they johannesburg stock exchange ceo. we will talk about the numbers in a moment. i would like to ask questions about the structure of your market. this is a huge subject for investors that have been investors are expected to that have been invested are exposed tencent sent -- that have been expected or exposed to tencent or other -- the impact of that i do not think can be underestimated. are there any challenges, any plans he will make to your market -- any plans you will make your market? leila: certainly, in excess of 30% of tencent. we have seen enormous volatility , both in our demand flows, as well as extreme dislocation -- obviously owning 30% of such a large stock, a concentrated and large stock on our market. there's nothing we are going to be doing in the short term because we do

i am ritika gupta. this is bloomberg. alix: let's get more on the coronavirus.roft, university of basil molecular epidemiologist joins us now. thanks so much for joining us. i want to start with the news out of the u.s. that pfizer has full fda approval of its vaccine for covid. do you think we see higher vaccination rates in the u.s. because of this? emma: i certainly hope this will be the case. we have heard a lot of people of said they have had vaccine hesitancy because some of the vaccines do not have fda approval. i am hopeful this will get those people over that edge, making them feel comfortable enough they can get themselves vaccinated, which will make a difference with cases rising in summary places in the u.s. right now. guy: we need third shots? emma: this is a contentious point. so many people still have not had access to one shot, whereas most of the data we have shows after two shot you might not be fully protected forever against infections, your chances of hospital and death are still significantly lower. right now in a world where we do not have

i am ritika gupta. this is bloomberg. ♪ >> historically driven by the threat or perception of threat. it is not a particularly safe world at the moment. number two, president biden has been a lifelong supporter of national security. this budget he submitted to capitol hill was a nominal increase. tom: she is the chairman and the chief executive officer of the electric boat company. when you are on the train between boston and look across the water at the secrets of the general dynamics company. phebe novakovic has resurrected general dynamics. this is a really important interview with david rubenstein. peer-to-peer conversations. tom: since she basically rescue general dynamics, there is no beating around the bush. what is the novakovic method? david: she is very tough, smart, knows the pentagon well. when she took over in 2013, the previous year general dynamics had lost about a hundred dollars or $700 billion. now the stock is up 120% since she has been the ceo. a good turnaround story. tom: as you kn

i'm ritika gupta.ortedly cutting the pay of employees working from home by up to 25%, according to reuters. an attorney -- an internal salary calculator -- an employee in connecticut who works in new york city could face 15% less from working from home full-time a colleague in new york see no pay cut. a warning from southwest airlines. the recent surge in coronavirus cases is hurting u.s. bookings and may make it hard for the airline to generate a profit in the third quarter. this month southwest has seen a slowdown in bookings and an increase in cancellations. bloomberg has learned that boeing is in talks with the newly created indian budget airline, for the 737 max jet. the airline is looking at operating a fleet of 70 jets within four years. valued at $8.5 billion at sticker prices, but discount is, for those large orders. that is your latest business flash. guy: thank you very much indeed. morgan stanley sees the planned shutdown of virgin galactic's main spacecraft -- it is basically a maintenance

i am ritika gupta. this is bloomberg. alix: thanks so much.the story of what is happening in china with what is happening in the commodities market. this is the relationship between the chinese producer price index versus iron ore prices. you can see the relationship cleanly. they tend to wind up tracking each other, at least they have in the last few years. if iron ore prices go higher, producer prices go higher as well. you had the government tried to tamp down the rise they've have seen in commodity prices. they do not want steel prices to go higher. you wind up having less demand for ironwork. this problem does greet the issue for the pboc. how much more monetary stimulus can they pump into the economy when this is what they wind up more worried about. joining us is george magnus, oxford university. how do you see the dilemma the pboc has now when they are trying to tamp down the commodity prices and cannot do it fast enough and it trickles down to their effectiveness? george: this is a bit of a dilemma for monetary authorities in china, a

ritika: with the first word news, i'm ritika gupta.sident biden is delivering on donald trump's pledge to bring u.s. troops home from afghanistan. he is also getting criticism at the taliban roles. the insurgents have been capturing capitals and imposing their fundament list ways. it is predicted insurgents could capture couple in 19 days. janet yellen is considering a chip to china -- a trip to china. it comes as the biden administration considers a broad review of policy towards china. the governor of texas has escalated the fight over his band of local phase basque rules -- is band -- his ban of local face mask rules. resistance to his campaign is spreading. school districts in dallas, san antonio and austin rolled out new masking roles. in poland the government is undermining relations with the u.s. after the ruling party forceful a controversial media law. the purpose is to protect broadcasters from takeovers but it targets the american owner of poland's largest television network. global news 24 hours a day, on air and on quickta

quicktake, powered by more than 2700 journalists and analysts in more than 120 countries, i am ritika gupta. this is bloomberg. ♪ >> what we've learned in the intervening months is that demand is indeed very strong, but there have been some pretty severe supply-side constraints. people are not flocking back into the labor force with the numbers we had hoped, for the reasons everyone suggested -- elf concerns, childcare issues, and the supplemental on appointment benefits. jonathan: stephen stanley. looking to a hike in the fed in june of next year. tom keene, lisa abramowicz -- the s&p 500 advancing .4%. european market, to 1.1921. euro-dollar a little mitt north, 1.10 88. jim bullard telling reuters will have -- telling reuters the fed will have to cope with more market change. it seems the st. louis fed president is on the same page as governor waller and former head of research of the st. louis fed. those two look like they are building a partnership on that fed. tom: i would suggest they are slaves to the data like anyone else. we are starting with a key friday determinant, and frankly

i'm ritika gupta. this is bloomberg. ♪ ♪ pres.: if the primary concern right now is the cost of living, you should support this plan, because a vote against this plan is a vote against lowering the cost of health care, housing, childcare, eldercare, and prescription drugs for american families. jonathan: that is the pitch from the president of the united states. from new york city this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. this thursday morning, here is your price action on the 500. firmer on the s&p by three points, up almost 0.1%. the last two days, the nasdaq underperformance in small caps. they wrestle outperforming. is that trade starting to kick in once again -- the russell outperforming. is that trade starting to kick in once again? we are one hour and 12 minutes away from jobless claims data in america. tom: i think the claims data is more important may be. i muscled looking at they redo because the redo on the jobs report was important. i would suggest the revision on claims c

i'm ritika gupta.his is bloomberg. ♪ >> the goal is to get as many people out as fast as possible, and why we are glad to see the numbers we got yesterday, we are not going to rest on a laurels. the focus is to do this as best we can by the end of the month. tom: john kirby with the pentagon, managing the message as well. there's juxtapositions in the messaging from washington and the images we see from washington as well. not that we are taliban or afghanistan worn out, but i thought we would lead with the debate in washington. we do that with annmarie hordern. i look at the calculation of the moderates, and i've made a project of this over the recent weeks to actually look at why they are moderate. let's look at the blue dogs and what they have done from the 1990's, when they became evident. there where the yellow dog scum of the blue dogs, the bull weevils -- the yellow dogs, blue dogs, the bull weevils. i can't keep track of all of them. they have crushed down to a small moderate margin over time.

i'm ritika gupta.omberg. alix: discovery is the place where european sports fans can watch the events. so far, over 275 million viewers have tuned into the broadcast. here to talk about how the games can play to the bottom line, discovery's cfo joins us now. thanks for joining us in studio. it is a pleasure to have you. >> thank you for having me. alix: what has the a olympics done for you guys? it is about one million new subscriber additions. the olympics work for you? >> the olympics have been working for us very well. this is the second games we are airing, with a year delay. we have a very interesting business model because we bought all of europe, and we decide how to best exploit those rights, so in many markets. every event is available on our's trading platform -- our streaming platform, so that is an opportunity to show what can be done with dreaming. for many years, people had to hope their event was selected by the major broadcaster. we are giving it to everyone. it has been a great success