i am ritika gupta.the way for the u.s. debt ceiling to be raised quickly would avert a government shutdown next week. in germany, the parliament has made it official. electing someone to be chancellor. he will replace angela merkel. they have sharply divert cash -- actively managing funds for the first time. they will exclude -- until now, they focused on environmental, social themes. billionaire money manager. he says the stimulus artificially propped up the economy and once the fed starts raising interest rates, it will slow down economic growth. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am ritika gupta. this is bloomberg. ♪ >> it is getting to the point where they have to start to change their posture. they will raise multiple times, beginning sort of mid or earlier. the potential would be how much earlier that would happen. jonathan: the ceo of bank of america on higher interest rates. your equity ma

i am ritika gupta.ts highest level in more than a decade. consumer prices rose 5.1% in the last year. driven by gasoline and new cars. it might persuade the bank of england to raise rates. boris johnson had to rely on opposition votes to pass a key measure to stop the spread of the omicron variant. almost 100 members -- mandate. the u.s. house as voted to raise the nation's debt ceiling by $2 trillion. it averts a potential default. the senate passed a measure earlier and goes to president biden for his signature. the biden administration is considering whether to put sanctions on china's largest ship maker. the u.s. will reportedly place eight more chinese companies on the military-industrial complex blacklist. one of them is a drone maker. another chinese developer is scrambling to avoid a payment failure. asking holders to extend the due date by six months. trying to provide to a record number of people. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journ

i am ritika gupta. there is no sign the pandemic is slowing. the number of coronavirus cases went over one million. the omicron variant is triggering hospitalizations appeared according to a forecast, a squeeze thanks to rising energy bills. a foundation think tank said wages will stagnate in 2022 and inflation might hit 6%, the highest in three decades. china's economy expanded at a moderate pace at the end of the year. external demand is clouding china's outlook. apple is paying some engineers unusual bonuses of up to $180,000 to keep them from leaving. some employees in operations groups. former democratic senate majority leader harry reid has died. he helped implement president obama's agenda. he also engineered a change in senate procedures that cut off debate on most presidential nominees with a simple majority. harry reid was 82. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am ritika gupta. this is bl

ritika: with the first word news, i am ritika gupta. the company says initial data shows that a dose of the coronavirus vaccine neutralizes the omicron variant. pfizer and i intact are working -- beyond tech -- biontech are working on another vaccine. the new german chancellor will face a number of challenges including the standoff in ukraine. the two leaders from america and russia held a video call that lasted over two hours. vladimir putin made it clear that he will not tolerate the west deploying weapons in ukraine. pk told -- a record high amid growing optimism over new products. raising and outlook after a booming thanksgiving holiday. a revenue drop of up to 15% after previously estimating a 25% decline. it sees dividends returning in 2023. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am right could do is bloomberg. ♪ -- i am ritika gupta. this is bloomberg. ♪ >> the higher inflation from 2022, a higher labor market and more tighteni

i am ritika gupta. president biden and let them are prudent -- vladimir putin plan to talk. the u.s. president warned russian aggression would be met with unprecedented economic sanctions. british socialite ghislaine maxwell faces years in a prison that is likely to be harsher than where martha stewart did time. jeffrey epstein was convicted -- maxwell is not likely to be sent to a minimum security prison camp. another record number of cases worldwide. the third day in a row of more than one million infections. it is expected to drive records in the days to come. the u.s.'s costliest worship can finally deploy. the uss gerald r ford has what is needed. the carrier cost $13.3 billion. 18% this month after setting a record back in november. bitcoin has fallen for its average. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am ritika gupta. this is bloomberg. ♪ >> they are looking for wins. they want people can be

i am ritika gupta.orld health organization panel says it is best to get people does go doses of the same coronavirus vaccine. it -- vaccine combinations could help lowood middle income countries deal with shortages. the u.s. is reportedly ramping up the economic pressure on iran. the bided administration is tightening its economic sanctions at a time when diplomatic efforts to restore the 2015 nuclear deal with iran have been unsuccessful so far. china is taking its biggest steps to rein in the surging yuan. the people's bank of china is forcing banks to hold more currencies and reserve. in italy, the nation's antitrust regulators find amazon more than $1.2 million, fusing the company of harmful practices in the e-commerce market. the company has asked banded -- has expanded its shipping services in europe. in manhattan apartment rents rose the most on record. that is according to appraiser miller samuel. still the median rent is almost 4% below where it was two years ago. global news 24 hours a day, on

i'm ritika gupta. this is bloomberg. ♪ >> this is the biology of coronavirus, and this is why, with the coronavirus group a that causes the common cold, you get a cold, you probably do not get it again that season, you might get it again next year for what it means is we will probably have to have more regular boosting to keep immunity up as long as this virus is still circulating. jonathan: dr. chris beyrer there. good morning. kailey leinz, matt miller, jonathan ferro. we advance one third of 1%. tom and lisa abramowicz will be back with us at some point. maybe they will wait until the new year. euro-dollar about 0.1% down. a brilliant just now to talk about the fortis ugo -- about the pharmaceutical companies, geoff meacham. i want to talk about mrna technology. it felt like a huge step forward 12 months ago. i wonder how things stack up 12 months later. geoff: that is a great question. mrna technology has shown durability of affect. the pfizer and moderna vaccines look like they do their job, limit

i ritika gupta. this is -- i'm ritika gupta.s is bloomberg. ♪ >> we see higher inflation for 2022, eight had a labor market, and most importantly, tightening from the fed and the forecast horizon as it stands for 2022 to 2024. jonathan: really interesting conversation with bill dudley, bloomberg opinion columnist and former new york fed president. tk back with us next week. your equity market down 13 on the s&p, -0.3%. into the bond market, yields lower to 1.499%. in euro-dollar, $1.1311, down about 0.25%. a stronger dollar in the mix through g10. we touched on the em story, but late yesterday, if you missed it, 150 basis point hike from brazil and flagging another 150 basis point hike in the not-too-distant future. february, they could be coming again. lisa: and they are hiking into recession, hiking into weakness, as they try to keep cash in their stores even as the federal reserve is prepared to hike rates and tighten some of the conditions, which is offering perhaps a bit of a competitive edge. jonathan: this as we look at d

i'm ritika gupta. no sign that the pandemic is slowing. for the second day in a row, the coronavirus cases around the world went over one million. overall, they appear to be triggering a lower rate of hospitalizations. the resolution foundation think tank says wages will effectively stagnate in 2022 and inflation may hit 6%, the highest in three decades. in hong kong, the last pro-democracy news outlet has closed after police raided its newsroom. that after seven people were arrested for conspiring. bloomberg has learned -- are going to select software and hardware applications groups. former democratic senate majority leader harry reid has died. reid helped implement president obama's agenda by rounding up the votes to pass obamacare and other key bills. he also a sweeping change in procedures that cut off debate on most presidential nominees with a simple majority. later, republicans would use the same tactic to eliminate the super majority threshold for supreme court justices. harry reid was 82. glo

i'm ritika gupta.is a legal blow to a man who has spent almost a decade fighting attempts to remove him from britain. judges in the u.k. have granted a u.s. request to extradite wikileaks founder julian assange. the u.s. government has charged him with be in auch for -- with espionage for his role in leaking classified documents. the arrival of the omicron variant has triggered a global rush for booster shots. the u.s. has expanded access to teenagers. countries like the u.s. and south korea are slashing wait times for a third dose to three months. still, the world health organization has reservations. it says it is more important for those who have not been vaccinated to get their first dose. president biden has assured ukraine's president vallarta marilyn zelensky -- vladimir zelensky. president biden also told nato allies in eastern europe that he had not made any concessions during a video call with russian leader vladimir putin. the price of oil is headed for its biggest weekly gain in more than t

i am ritika gupta. this is bloomberg. ♪ pres.en: we are now able to purchase 500 at home rapid tests to be sent to the american people for free and we will continue to use mass production act to get as many tests as possible. starting in two weeks, private insurance will reimburse you for the cost of at-home test but we have to do more, we have to do better. and we will. jon: the president of the united states there. good morning with kailey leinz and matt miller, i'm jonathan ferro. your equity market positive 12 to 13 points on the s&p 500, advancing .25%. all-time high on the close yesterday, number 69, approaching 70 later. in the bond market, 148.07. shout out to the analysts who have been made to work this week. maybe a suggestion for the kids at goldman the next time they at that deck together, add in a slide closer to markets the week after christmas. they might get what they want next year too. kailey: they got what they wanted this year to a large extent. notches goldman, you see thanks upping the starting salaries. gol

i'm ritika gupta.ongress has averted a government shutdown. the bill will pay for government operations through february 18. without the measure, the government would have been forced into partial shut down after midnight friday. it is a stunning reversal for didi. the company now has begun prep ration to delist shares in the u.s. and will start on a hong kong share sale. bloomberg reported last week that china is concerned a u.s. listing would lead to the leakage of sensitive data. european central bank president christine lagarde says an increase in interest rates next year is unlikely, but told reuters she won't hesitate to act on inflation if needed. the ecb plans to decide on the future of its stimulus measures on december 16. the omicron variant of the coronavirus is now the dominant strain in south africa. that is where it was first detected. south africa reported or than 11,000 covid cases thursday. omicron has been detected in more than two dozen places stretching from the u.s. to south korea.

i am ritika gupta.his is bloomberg. ♪ pres. biden: the meeting with putin, i was very straightforward. there were no minced words. it was polite but i made it clear. if in fact he invades ukraine, there will be severe consequences. jon: the president of the united states on russia and the russian leader vladimir putin. from new york city, good morning. equity futures down 19 on the s&p. we declined by .4%, pulling back from close to all-time highs on the s&p 500, a three-day winning streak finally on the s&p, the first time in about a month. in the bond market, yields in to 1.4939. focus on the front and as we debate rate hikes. morgan stanley joins the club. we revise our fedco and expect the fomc to raise rates to september 2020 to two quarters earlier than our prior forecast. in 20 23, they expect another three times. they look for three hikes next year and three in 2023. lisa: the pressure is on fed chair jay powell next week. how much does he edify the ideas getting confirmed to markets that they w

i'm ritika gupta.he biden administration is ramping up plans to fight the covid-19 pandemic is the omicron variant continues to spread. bloomberg has learned the white house expects to deliver 4 million covid treatment by next month. they are awaiting the green light from the food and drug administration, and that authorization could come as soon as today. there are new concerns for anyone flying this holiday season. the top adviser to the world's airlines says line passengers are twice or even three times more likely to catch covid-19 during a flight since the emergence of the omicron variant. the international air transport association says this in this class may a safer and more densely packed economy cabins. -- says business class may be safer than more densely packed economy cabins. western governments have imposed restrictions on products from the region. the annual meeting of the world economic forum which was postponed to summer 2022 in davos, switzerland, consult with a panel of virologists ab

i am ritika gupta. this is bloomberg. ♪ ♪ >> there is a bill that is 1.7 $5 trillion and i think that is dead. i think there is material likelihood, 70%, we get a package that looks more like $700 billion. something with less than $1 trillion handle is appropriate. jonathan: awesome to hear from henrietta of veda partners. here with kailey leinz and matt miller i am jonathan ferro. short of 4800 on the year and higher by almost 20 percentage points. on twitter somebody said, i was once the 99th caller and won the led zeppelin tickets? . did you ever win? matt: what? i think they were done touring by the time i was legally allowed to go to a concert. weren't they done touring in 1980 echo i think that was the end of it. jonathan: are you trying to illegally acquire tickets? is that what you were trying to do? matt: no. it just popped into my head because i was too young when they were touring -- this is a tangent you don't need to hear -- but when i was a junior in high school the local radio station sta

this is bloomberg. -- i'm ritika gupta. bloomberg. ♪ >> the fed has tried to create an inflation cycle for 10 years. who's to say they are going to be able to keep it under control? this is an environment where i don't know if the fed is going to be able to quell market volatility. jonathan: savita subramanian with bank of america coming into the weekend last week. from new york city, good morning. tom keene, jonathan ferro, and kailey leinz. lisa back with us tomorrow. the s&p advancing 0.3%. yields higher up. the move in friday's session, down 10 friday, up this morning. in the fx market, muted price action. euro-dollar lower a little more than 0.1%. the correction lower off the all-time highs, something like three or 4% from the s&p. it has helped so much more difficult than that over the last couple of weeks. tom: this is really important. there has not been a correction, but if you take out the highflying stocks that have done so well over the last 12 and 18 months, there's a lot of this market that feels like a correc

i'm ritika gupta..s. top medical provisos warned not to get complacent. anthony fauci said the cases could overwhelm hospitals despite symptoms being less severe. an increase in coronavirus cases in the u.s. led to shortages of airline crews on one of the busiest travel periods of the year. 2800 flight cancellations over the christmas weekend. knighted, delta, and jetblue canceled 12% of flights. -- united, delta, and jetblue canceled 12% of flights. online shopping jumped. sales were up 21%. justin trudeau says china has been playing the nations against each other. he told global news that democracies should present a united front. canada joined the u.s. and other western allies in a diplomatic boycott of the beijing olympics. a south at three and -- a self african -- died he won the nobel peace prize in 1984. desmond tutu was 90. global news 24 hours a day, online and at quicktake on bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm ritika gupta. this is bloombe

i'm ritika gupta.his is bloomberg. ♪ >> i think the october cpi was a with up call that this inflation environment is going to be somewhat longer-lasting than anticipated, and i think more importantly than just the duration, it is the magnitude. wheeler looking -- we are looking at 7% cpi coming q1, and we have seen the fed realize that in order for inflation expectations to remain close to 2%, that they do have to make adjustments, and i think we will see that very soon. jonathan: sarah house of wells fargo setting us up for 7% cpi in america, q1 of next year. she's looking physics .9% this friday. your estimate nudges up to 6.8%. we are days away from that inflation report in america. from new york city this morning, good morning. alongside tom keene, i'm jonathan ferro, together with kailey leinz. yields higher by four or five basis points on tens to 1.3 9%. it bit of news out of new york city. kailey: mayor bill de blasio talking about the vaccination requirement, saying it is now required for kids

i am right at the group debt -- i am ritika gupta.omberg. ♪ this is bloomberg. ♪ >> i think we have to start to think about, what are our goals with this pandemic? what are our goals with covid-19? our goal is to decouple cases from hospitalizations. when you look at cases occurring in vaccinated individuals and boosted individuals, they are mild. they usually don't even require a call to the doctor. that is the good thing. that is the victory. kailey: what is our goal in this pandemic, and what is the appropriate response to that goal? that is dr. amesh adalja, from johns hopkins university. in germany, they have been a bit more restrictive, but the health minister saying it is inevitable that the omicron variant will spread there, too. anna: yes, you see them trying to put barriers between the u.k. and their borders, because they did not want the omicron variant -- well, they don't want it at all, but if anything, they would like to delay its arrival. you saw tough policies taking place to fight the delta wave, even before we were s

i'm ritika gupta.pple has a problem it was not expect and with the iphone 13. apple has told suppliers that demand has weakened for its newest phone. five months ago, president biden declared the u.s. emerging from the coronavirus. now the virus is threatening to resurge across the region. today he will lay out measures that include stricter testing from abroad and a continued mask mandate. antony blinken met with his russian counterpart sergei lavrov today in stockholm. the kremlin says it sees growing risk that ukraine may attack russian backed separatists. in brazil, the economy has slipped into a shallow recession. that has dealt a blow to president jair bolsonaro just as he prepares to run for reelection. china is on the verge of lifting an almost three year grounding of the boeing 737 max. chinese regulars have lifted the last safety related obstacle to bringing the max back, issuing an airworthiness directive. china was the first country to ground the plane in 2019 after two fatal crashes. it is

bloomberg's ritika gupta is here with more.a: it turns out travel stocks have turned out to be some of the big winners on the week, but a reversal from what we saw at the start of the week with those fears of the gonvarri and. now they seemed to have really shrugged those off -- of the omicron variant. now they seem to have really shrugged those off. carnival up some 20%. norwegian cruise lines up 16%. still, nonetheless it has been a challenging environment. it has been a challenging year for them, as they have had to navigate those restrictions. some of the ways they have been able to navigate through that is by racking up a lot of debt. you can see that here with our three key cruise line operators. 2021 debt levels in the double digits. for carnival comedy 2021 debt levels more than three times what we saw the long-term debt levels in 2019 pre-pandemic. let's focus on the here and now, focus on this week, what we have seen on the broader travel sector. you can see airlines up some 8.5% or so. this is really, as we saw the p

ritika gupta.oday will be the second time this month leaders of the u.s. and russia have talked. the white house as president biden and vladimir putin will discuss a range of topics, but the issue of ukraine is likely to be prominent. early this month, president biden told putin that russian aggression would be messed with unprecedented economic penalties. a new study on the johnson & johnson coronavirus vaccine is welcome news for africa. two doses of the shop -- doses of the shot. u.s. secretary of state antony blinken calling on china to stop arresting hong kong journalists. that comes a day after the biggest remaining pro-democracy news renovation shut down following a police raid. blinken said a free press is key to hong kong's future as i financial hub. goldman sachs has the number one advisors on mergers and acquisitions, and it came during a record year for gold making. -- for gold making -- for goal making. the bank held at the nearly $4 million in fees for the year. the chairman of credit

i am ritika gupta. bloomberg. ♪ >> if you're going to travel, think about shorter distances. think about getting tested the day of travel. travel is avoidable or someone in your party is unvaccinated, is elderly or immunocompromised -- kailey: johns hopkins associate professor of emergency medicine speaking with us earlier this week as we face of any questions about this pandemic. we have encouraging data when it comes to hospitalizations and boosters, but to have a booster you have to get vaccinated. that is a big gap in the pandemic era. let's bring in jodi getz, vice chair emory university department of epidemiology. as we talk about these different forces, what in your mind is most critical to focus on? jodi: getting everyone boosted, and if you've not gotten vaccinated we want everyone to get a vaccine and one in the mrna series. then if you've been vaccinated, six months after the vaccinated you want people to get boosted. we also layer a couple of things on that because omicron is so transmissibl

i'm ritika gupta.ivide and demonstration is ramping up plans to fight the covid-19 pandemic as the omicron variant continues to spread. bloomberg has learned the white house will take delivery of 4 million cova treatments by the end of january. the treatments include new antiviral pills that are waiting for the green light from the food and drug administration. that could come as soon as today. there are new concerns that anyone trying this holiday season my airline passengers are twice or three times more likely to catch covid-19 during a flight since the emergence of the omicron variant. the international aviation association says business class may be more affordable than economy. a crillon spokesperson said today he is hoping to come away from negotiations with clearly formulated positions. the comments come a day after president putin threatened a military response if kremlin demand's are not met. it talks of russian proposals accessible. it looks likely to be delayed after a parliament tree commi

i'm ritika gupta.ederal reserve chair jerome has given a clear sign that this central bank -- chair jerome powell has given a clear sign that this central bank is moving to tighter monetary policy. powell acknowledged that the trend of rising prices is proving more powerful and persistent than expected. that could lead to interest rate hikes sooner than anticipated. u.s. and japan are amongst the countries ready to impose new travel restrictions to restrict the spread of the omicron variant. president biden is expected to require all air travelers to the u.s. to be tested within a day of their departure. meanwhile, japan will deny reentry to foreign nationals returning from 10 african nations. japanese airlines have halted new inbound bookings for this month. a u.s. advisory panel has narrowly recommended approval of merck's coronavirus pill after a lengthy debate about the safety of the potentially game changing treatment. the pill isn't in the do treat mild-to-moderate covid in adults at risk of deve

i'm ritika gupta. this is bloomberg. ♪ >> people end up moving forward whatever purchase they are like the to do for the year, at least on discretionary items, because they do not have to wait only for the items that cost more. when it comes to staple-type items, they are resigned to the fact their favorite brand of cereal will cost more. jonathan: great to hear from sam stovall there. all-time high on the s&p 500 coming into this week. kailey, a little bit of news out of didi. kailey: this is a company that became public in the u.s. six months ago in june. the lockup expires today. the headline just crossing that didi has blocked employees from selling shares indefinitely. for early investors in didi, this would have been the first day they could sell shares, but employees will apparently not be able to do so. if you would be selling, you would be selling at a big loss. this company has lost more than 40 billions -- $40 billion in value since its debut here. jonathan: this could have been one of the s

i'm ritika gupta.s bloomberg -- this is bloomberg. ♪ ♪ >> inflation, supply chain issues, and the fuel price crises are clearly the main drivers of risk in markets, and the point i want to make there is they are also huge problems for incumbent governments that are going to cause a range of attempted policy responses and maybe even poor policy responses. jonathan: looking ahead to 2022 with tina for them the head of global policy strategy at a longhurst -- with tina fordham, head of goebel policy strategy at -- of global policy strategy at avonhurst. as far as the diary is concerned in washington, d.c., the time, 3:30 eastern time is when a call will take place between the president of russia and the president of the united states. joining us as greg valliere, chief u.s. policy strategist at agf investments. your outlook for geopolitics, and the united states and the communist party. greg: i do think this is a big wild for next year. i think for the time being, vladimir putin has to worry about a guerr

i'm ritika gupta. biden administration is seeking to downplay inflation ahead of a data release that is sure to show a surge in consumer prices. the white house says the consumer price index won't reflect some price movements in gasoline and natural gas prices. according to a bloomberg survey of economists, the cpi probably increased 6.8% from a year ago. the number is out not long from now at 8:30 a.m. new york time. president biden has assured ukraine of the u.s. support in its standoff with russia. the u.s. leader pledged not to hold talks about ukraine's future without its representatives at the table. president biden also told nato allies in eastern europe he had not made any concessions during a video call with russian leader vladimir putin. it is a legal blow to a man who has spent almost a decade fighting attempts to remove him from britain. judges in the u.k. have granted a u.s. request to extradite wikileaks founder julian assange. he has been imprisoned in the ecuadorian embassy imprisoned o

i'm ritika gupta.he supreme court will hold a special session in just over two weeks to weigh challenges to faxing requirements for millions of workers. the court will hear arguments in the cases january 7, amid rising coronavirus cases, and it is an expert nearly fast timeline. the court is not scheduled to hear cases again until january 10. also officials say omicron could leave the population almost unprotected against covid infections. that is why they have hunted some people to offer forth -- offer fourth vaccine doses. the chinese city of xi'an has imposed a lockdown on its 13 million residents after testing identified 120 seven covid infections. residents have been told to stay in their homes and designate one person to go out every other day for necessities. it is china's biggest lockdown since the beginning of the pandemic and will on -- in wuhan. intel's continuing access to the chinese market is crucial to its growth as it struggles with increasing competition. global news 24 hours a day, on

i'm ritika gupta.his is bloomberg. ♪ >> open market, subsidies to state run companies, denying exports, engaging in illegal, unreported, unregulated fishing activities. jonathan: antony blinken sending a clear message to china. with lisa abramowicz and caroline hyde, i am jonathan darrell. equity market down nine. going into the fed tomorrow, 1.4343. yields higher by a couple of basis points. a bit of negative follow-through from yesterday's negative ascension -- negative session. this line from senator manchin? you're just talking about different iterations. we are engaged. does that mean we are going nowhere? we will talk again at some point? lisa: the headlines for people parsing through the noise is this might torpedo any chance of anything heading and before christmas. joe manchin wants some serious work done on a plan that has been seriously worked over for months and months. how does that tail into the i for gated nature of the lido credit party? is he the only one? jonathan: he is not the only

ritika: with the first word news, i am ritika gupta. president biden's chief medical advisor says initial data from south africa on the omicron variant is encouraging. cases need last medical intervention. the data were present only the first two weeks of the omicron wave, but dr. anthony fauci says there does not look to be a great deal of severity to the variant. in china, the central bank trying to give a boost to a slowing economy, cutting the amount of cash most banks must hold, releasing billions of dollars of liquidity. the u.k. will push the u.s. to move -- remove trump era tariffs on british steel and aluminum. the tariffs are a headache far prime minister boris johnson. he said that improved trade relations with the u.s. would be one of the major benefits of leaving the european union. saudi arabia signaling it sees demand for oil staying strong, despite the spread of the omicron variant. the saudis have raised prices for buyers in the u.s. and asia. the move comes after opec and its allies made a decision to boost oil output.

today, the stock is on a tear again, ritika gupta looking at the potential headwind for the business.ika: only if we had all bought apple stock back in the day. it is leaving after a report that it is asking to speed up production following a couple weeks ago when they said they were going to cut back on demand concerns. you do see suppliers up in tandem with apple. all in the green today, all that technology sector. apple is getting close to its three trillion dollar mark. this is beyond the market cap of germany and saudi arabia, the largest stockmarkets in the world. nearing a magic price at $182 to hit that $3 trillion mark. operators are making some of the largest call volumes you have seen for apple. alix: if it is not the demand problem, can they actually meet the production targets? ritika: even if they do ramp up capacity, they are still falling short of their year-to-date capacity. this is going to be the underlying demand problem but not as bad as previously thought. they are still dealing with supply crunches and looking at 85 million units. the estimate was supposed to be

this is bloomberg. >> with the first word news, i'm ritika gupta. the u.s.th toll from covid has passed 800,000. more than 200,000 of those deaths occurred after vaccine became widely available. the u.s. has the highest death of any country. the house voted to hold former president trump's last chief of staff in contempt of congress prayed he has refused to testify in the capital insurrection investigation. he turned over emails and other records but cited executive privilege in refusing to appear before lawmakers. congress is seeking to increase pressure on china for its treatment of muslim uighurs. they passed a bill that would ban goods from the country's region unless companies can prove they were not using forced labor. china has denied those allegations. carmakers like volkswagen and general motors should brace for the global chip shortage beyond next year. they say they need fewer of the high-tech components. this shortage -- bloomberg's learned a french billionaire is considering a u.s. ipo sotheby's. he purchased it for $3.7 billion. sotheby's is th

i'm ritika gupta.his is bloomberg. ♪ >> it is the semi conductor names fueling technology growth in consumer electronics, and that has been held back this year. because of supply chain constraints, we see them having strong pricing powers going into the middle of next year and beyond that. so with that cycle ending, we think that could no longer. jonathan: portfolio manager there. good morning. tom keene, lisa abramowicz and jonathan ferro. your equity market is advancing 1.3% on the s&p 500. the s&p advancing from yesterday. positive follow-through on the nasdaq, too. yields are higher on the back end and front end. the 145, let's call it come along 44.95. apple is one to watch. katie of morgan stanley raising her price target to $200, in line with the dan ives, who we will catch up with in a moment. up 2%. " despite a consistent immaterial revenue contribution from new products and services over time, apple shares do not bake in the impact from new product launches." that is the view from morgan stan

his ritika gupta. ritika: russia warns of serious consequent is if ukraine makes moves.t sees a growing risk that ukraine may attack russian backed separatists. house democrats have come out with a short-term spending bill to try to prevent a federal government shutdown this weekend. the bill would fund federal agencies through february 18 and would have to pass both houses of congress by midnight friday. that will require cooperation from senate republicans who have the power to drag out the process. pfizer expects its coronavirus vaccine to hold up against the omicron variant. data should be available within two to three weeks. >> the clinical significance of those mutations is unknown, so i think we really have to wait for the data, and i don't expect that there is a significant drop. if there is a significant drop, then pfizer has a playbook to develop a new vaccine. 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'm ritika gupta. this is bloomberg. alix: president biden is

i am ritika gupta. this is bloomberg.hanks so much will stop i feel like we have seen that movie before. all of this power spike across the u.s. and europe has to do with the energy transition, as we move from hydrocarbon into things like wind and solar, what becomes increasingly clear is we need batteries. we need a way to store the alternative energy in order to keep it on its lows. one company involved in all of this is british bulls come on track to deliver the uk's first full-scale gige plant. british volt manages to create -- we want to talk to the british volt ceo and founder. thank you for joining us. i love to get the state of play. where are you in the buildout? how has it been going, you've been hit by omicron, there are power problems, how does that feed into your buildout? >> thank you for having me. it is going well. we are a composition that has managed to get planning permits in record time in the northeast of england. it is one of the few propositions in europe right now that has planning permits and is s

i'm ritika gupta. this is bloomberg. ♪ this is bloomberg. ♪ >> we deserve access to that market.has committed to a certain amount of purchases of, you know, farming goods, food goods, airplanes, etc. they ought to live up to that commitment, which creates jobs in america. we will keep pushing on behalf of u.s. industries and u.s. workers. jonathan: the new administration, just slightly old administration, gina raimondo u.s. secretary of, there. good morning. alongside lisa abramowicz and kailey leinz, i am jonathan ferro. tom keene is back with us next week. advancing one third of 1%. yields higher by just a couple basis points. the highs of the year going into cpi, two hours and 12 minutes away. this came from jonathan golub on inflation. we highlighted -- he said historic lee this is offset by rising bond yields. in the current environment, however, inflation is not translating to higher rates, a huge benefit for stocks. lisa: part of the reason why he upgraded his expectation for the final 2022 target at 5100, saying that the discount rate would remain low, even as he saw stoc

ritika: with the first word news, i'm ritika gupta.pple has a problem it was not inspecting with the iphone 13. bloomberg has learned the company told suppliers that demand for its recent model has declined. apple has cut its iphone 13 production goal because of a lack of parts. five month ago, president biden declared the u.s. was on the verge of defeating the coronavirus. now the virus is threatening resurgence across the country, and the omicron variant has been detected. today the president will lay out his latest plan to quell the pandemic. it will include stricter testing for travelers from abroad and extending a mask mandate. the u.s. government has moved another day closer to a brief we can shut down. congressional democrats and republicans are still trying to reach an agreement to pass a temporary spending bill for friday's deadline. leaders have not been able to turn a threat over their objections to federal vaccine and testing mandates. the turkish lira is trading near a record low again after president erdogan fired the cou

i'm ritika gupta. this is bloomberg. ♪ >> i think you want companies that aren't predicated on free money. this is what the fed just did. they just told you that game is over. the winner take all tech platforms of the last decade, that was absolutely the place to be. i don't think that is the place to be going forward. i think you need a different playbook. jonathan: interesting to hear from the ceo and cio of winquist capital -- ofw win -- the ceo and cio of wincrest capital. back for 1.50% on tens. euro-dollar, 1.1 307. a stock to watch in the premarket, tesla. that stock is up by zero point 9%. dan ives of wedbush has a $1400 price target ,$ right now1098. great -- right now $1098. great to catch up with you. why? dan: starting off with demand in china, last year it was rocky. 40% of deliveries for tesla going into next year, that is a linchpin to the bull thesis. the profitability for cars they sell in china are incrementally higher than those that they sell in the u.s. and europe, and that is why

i medic up that -- i'm a ticket appd -- i'm ritika gupta. accused the company of harmful practices. amazon says it will appeal. the company has expanded its shipping services in europe. it is europe's stem vicious payout plan. the italian bank unicredit plans to extend it least $18.1 billion to shareholders by 2024, part of the strategy to revamp unicredit. bloomberg has learned the u.s. justice department has told borja bank it may have violated a critical settlement. the german bank agreed to pay more than $130 million to settle charges come abroad foreign officials, and disrupted the market for metals futures. that is the latest business flash. dani: thanks so much. it is really fascinating. it seems like deutsche bank is yet again the problem child, but i think it is really fascinating what they are accused of doing here. it has to with greenwashing. there was a whistleblower saying their active management arm was essentially lying about their promises on esg, and the regulators here, the doj saying this is something you should have aler

. ♪ ritika: i'm ritika gupta. you are looking at a live shot of the principal room. bloomberg. ♪ alix: let's check in -- ritika: let's check in on the first word news. president biden's administration seeking a commitment from the incoming german government. the president is holding a high-stakes video call with vladimir putin today. a white house commission has come out in favor of making changes to the supreme court. among them, they continue of livestreaming of argument and advisory ethics panel. looking at expanding the number of justices. there will now be a four and a half day workweek. friday will be a half day in the uae. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2,700 journalists and analysts in over 120 countries. i'm ritika gupta. this is bloomberg. alix: thanks so much. let's get back to the breaking news. we had president putin and president biden starting the call at 10:07. one headline that came out of it is the u.s. will potentially sort of veto nord stream 2 if russia invades ukraine. they will seek to stop tha

i'm ritika gupta. business economists say u.s.s set to exceed the fed's 2% target rate for at least another two years, according to a survey from the national association for business economics. higher prices are being driven by supply chain bottlenecks, strong demand, and rising wages. economists say the shipping and transportation problems may ease soon. the u.k. will push the u.s. to remove trump era tariffs on british steel and aluminum. the u.k. trade ticket terry meets tuesday with worse, secretary unary mondo. but -- boris johnson said trade with the u.s. would be one of the major benefits of leaving the european union. 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 medicaid group this is bloomberg. -- i'm ritika gupta. this is bloomberg. guy: huge economic week coming up. it will end friday with the u.s. inflation data, cpi. we think it is going to come in at 6.8%. it could be a little but higher. we will wait and see. the man

. -- i'm ritika gupta. this is bloomberg. alix: thanks so much.ight, morgan stanley updated its rate path forecast. the making giant saying we now expect the fomc to begin raising interest rates in september of next year, two quarters earlier than previously anticipated, after delivering two rate increases in 2022. we expect three in 2023. here to talk about the call is ellen zentner, morgan stanley chief economist. why did you make the call? fundamentally, you don't see your inflation growth forecast changing. ellen: right. we are still expecting inflation to start coming off these highs as we are moving through the first quarter next year. so if an economist doesn't change their forecast for growth and inflation in the labor market, it must be a perceived change in the fed's reaction function. we think that is what we have seen. with get culminated with chair powell's remarks in his testimony, where now they are clearly putting price stability first. that is up on that pedestal, whereas before, it was maximum employment. now we are going back to

i am ritika gupta. shares of eli lilly are rising. the drugmaker has raised sales.hey are expecting revenue to rise next year due to new product growth. the company is holding an investor event. an canadian court ordered it to pay $955,000 in damages. the british chain walked away from a takeover because of the coronavirus outbreak. it is the world's second-largest movie theater chain. that is your weight is business flash. alix: u.s. regulators are looking to restrict hedge funds and family offices from using complex derivatives to secretly build a huge stake in companies. it has fueled archegos capital management. walk us through what potential restrictions we could see and what that would have done. >> these rules are largely welcomed by wall street. this last regulation, archegos have built up so many positions that the banks were not able to trade among each other. bloomberg is reporting that $300 million worth of positions must require more disclosure, who is behind the trade, and what is also interesting is that it is not just for equities. this will also per

i'm ritika gupta. this is bloomberg. city public hospitals are restricting visitation during the covid spike. mayor bill de blasio also said the city is adding seven new covid testing sites and handing out rapid tests to the public. joining us now is mark goldberg, rapid test n.y.c. co-founder and ceo. let's deal first of all with that news from the mayor. seven new sites opening up. how big an impact will they have? sheila: -- mark: i think they will definitely help out with all the lines. we see massive lines in demand right now. even though build blase was opening up seven new test sites, i just read today that 13 city mds are closing down, so even though we have these new seven, 13 close down is going to add even more demand. but we definitely need more testing sites. we definitely need more help to help with the lines and to hopefully ease up capacity. alix: you have two sites in new york city and another one opened on the madison square garden msg. what demand are you seeing? how are you managing it? what is the bi

i'm ritika gupta.ederal reserve chair jerome powell has given a clear sign that the central bank is shifting to tighter monetary policy. he told congress it is time to quit using the word transitory when talking about inflation. howlett knowledged that the trend of rising prices has proven more persistent than expected. u.s. and japan are amongst the countries ready to impose new travel restrictions to restrict the spread of the omicron variant. president biden is expected to require all air travelers to the u.s. to be tested within a day of their departure. japan will deny reentry to foreign nationals returning from 10 african nations. japanese airlines have halted new inbound bookings for this month. a u.s. advisory panel has narrowly recommended approval of merck's coronavirus pill. the pill is intended to treat mild to moderate covid in adults at risk of developing severe illness. tel aviv has moved past hong kong and singapore to become the world's most expensive place to live, according to the ec

ritika gupta. ritika: let's start by looking at toll brothers.reversing some earlier losses, but this is after that new home sales data missed estimates by 3.3%. the median home price is 407,000 dollars, a record. this is a red-hot housing market despite that sales miss. new home sales still at a seven-month high, yet new home sales have consistently been missing the estimates, after peaking earlier this year despite the fact that mortgage rates have taken another move lower. part of this could have to do with rising prices, as we have higher demand, but also reflecting those higher costs we are seeing on labor, lumber, material costs. if you look at the average home prices, you can see toll brothers breaching its competitors in that sense. the average price almost double that of its competitor lennar. we do have a number of issues to think about going into 2022. one of them is those backlogs we have been seeing, a number of contracted homes that have not had construction on them is at a record high. builders don't know what to do with because th

i'm ritika gupta.his is bloomberg. ♪ >> all of us, whatever our background, age, where we live, we can agree that prescription drugs are outrageously expensive. it does not need to be that way. under my bill back better bill, it will not be the same way. jonathan: the president of the united states there. your equity market with a lift. a rally, 61 points higher on the s&p. the nasdaq 100 advancing 1.8%. crude at $71.51, one stock to watch in the premarket's looks something this. you mentioned that call from katie who pretty at j.p. morgan. in line with the big bow on the street, dan nieves also at $200 a share. tom: in the studio with us live, show. he joins us. there is a photograph from long ago. that is of howard baker, senator dole, and tip o'neill and a guy named ronald reagan. they cannot stand each other, but they got things done. how far are we from tip o'neill and ron reagan? joe: a long way. a lot of folks were asking about that when we lost bob dole. we do not have a lot of bob doles or tip

ritika gupta is here to tell us what we are seeing. tika: we have $36 billion worth of that auction coming onto the market. we see it drawing a yield of 1.518%. we get some weaker demand here and i will bring you the rest of the headlines as well. we get the indirect bid coming here at 68.8%. we are really quite set up for be a bearish tone for treasuries. we have that optimism from pfizer on the omicron news and we have the cpi data on friday and the fed meeting next week where they will be updating the dot plots. these are some key events that investors want to keep on the table. matt: stuff will keep happening everything today. thanks for that, covering the 10 year option. let's get to something that caught my eye and that is the uk's fight against the pandemic. any moment, boris johnson is expected to hold a news conference. he is excited to issue an order to work from home and to mandate the use of vaccine passports inside large venues. early reports helped to drive stocks down, especially in the u.k. joining us as we await those r

powered by more than 25 hundred journalists and analysts in 120 countries, i'm ritika gupta, this isberg. ♪ ♪ >> there are some additional mutations. i think we really have to wait on the data. i don't expect that there is a significant drop. if there is a significant drop than pfizer has the label to develop a new vaccine. jonathan: that was the pfizer bp, there is some data between how pfizer communicated this week and how moderna and the leader of modernity shows to communicate this week. tom: i don't disagree with that. both of them are treading lightly here. the waiting is the key thing here. jonathan: we keep waiting for that data. tom keene, lisa abramowicz, jonathan ferro from new york. yields bounce back three basis points at 1.43. it's covid-19 antibody treatment looks to be effective against the new omicron variant in early testing. going against something we heard from regeneron. it has been decent news in the last 24 hours. jonathan: if you want -- tom: if you want to speak about south africa and the fears we face, we will speak to be professor at johns hopkins universit