i am ritika gupta. this is bloomberg. ♪ >> looking at most professional forecasters, they project we will see an easing in price through the course of 2022. obviously, the fed is operating independently and the president has scored the importance of the fed operating independently to take actions to make sure these price increases do not become entrenched. jonathan: the national economic council director on inflation. with lisa abramowicz and tom keene, i am jonathan ferro. your equity market up six, up a little bit more than .1%. crude settles down with an $82 handle, media $2.64. -- $82.64. inflation is too high and working people around the country are concerned about how far their paychecks will go. we are focused on getting inflation down to 2% and sustaining a recovery that benefits everyone. tom: the words of alan greenspan, jon ferro, this is unbelievably stupid, and so said an entire nation over the comedy of 1974 of whip inflation now. there are not words 48 years on to describe how silly all

i'm ritika gupta. this is bloomberg. ♪ >> zones we don't go too far, the equity market can hold it there there's ample liquidity. the fear of missing out was a huge driver in 2021. people are worried. jonathan: the head of asset strategy at state street. from new york city, i'm jonathan ferro. your equity market down. a monster number from the adp. we were looking for for 410, what did we get? >> outliers get peoples attention. 807,000 jobs, almost doubled the forecast. the entire month revised down to 505. this is going to cause people to rethink what we are going to get on friday when the jobs numbers come out. of these 807,000 jobs, 669,000 were in service producing industries including 240 6000 in leisure and hospitality. these are the jobs that have been missing so far from the economy. if there is some credibility. when you do adp you have a safe harbor statement. you could see a bigger number than wall street is anticipating right now. 384,000 for private sector jobs. so perhaps we have seen a t

i'm ritika gupta.sident biden reportedly may drop the u.s. stance on russia and ukraine. according to "the new york times," the president is considering deploying naval craft and troops to ukraine. u.k. prime minister boris johnson is facing the outcome of an investigation into reports that he allowed rinks parties in downing street which broke pandemic rules. the result of that probe could lead his conservative party colleagues to force him out. in israel, a new study says it's fourth dose of vaccine for adults leaves people better protected than those with three shots. the great majority of people in israel have received the pfizer vaccine. an activist investor is added to the pressure on unilever's ceo, who failed in his bid to buy a conserver help -- a consumer health unit from glasser smith kline. he has built up a stake in unilever. it is unclear what his intentions are. he has a history of pushing for changes at consumer companies. global news 24 hours a day, on air and on bloomberg quicktake, p

i'm ritika gupta.his is bloomberg. ♪ >> we have no intention of putting american forces or nato forces in ukraine, but there will be serious economic consequences. jonathan: the president of the united states from new york city with tom keene and lisa abramowicz. bouncing back on a session. down more than 13% year to date and the nasdaq. yields are higher by one basis point. futures are positive. we are higher by 1.41% on the s&p 500. here is the lead paragraph from the team. the latest with germany in these negotiations. the german government has pushed for an exemption of the energy sector if there was a move to block russian banks from clearing u.s. dollar transactions according to documents seen by bloomberg. how to get germany fully on board with some of these big punishing sanctions if they need to be delivered. tom: the price differential with natural gas versus europe, i think a lot of americans don't understand that. it's like having brent crude right now at $110 a barrel. jonathan: and a depe

i'm ritika gupta.ussian foreign minister sergei lavrov says he saw some rational elements in the u.s. response to moscow's security demands, but said key points were ignored. president biden warned ukrainian president volodymyr zelensky that a russian invasion could come next month. president biden says he will fill his promise to not make the first black woman to the supreme court. he says he will announce his choice by the end of february, just as justice breyer told the president formally he will retire in june or july, assuming a successor has been confirmed. north korea launched four missiles this week, including two long-range cruise missiles that could good -- that could give the kid ability to hit almost all of japan. they have wrapped up weapons testing in an attempt to signal unhappiness with the u.s. over comic sanctions. in london, and acrimonious court battle over claims of false accounting has come to an end. the founder of autonomy corporation mike lynch -- accused of inflating the value

i'm ritika gupta.he kremlin warns the u.s. decision to put 8500 troops on alert for deployment in eastern europe exacerbates the tensions. the biden administration says if the troops are sent overseas, they would help nato forces in the region. more than 100,000 russian troops have been deployed near the border with ukraine. moscow denies it is planning an invasion. more problems for british prime minister boris johnson over allegations of those rule breaking parties during the pandemic. london police are now investigating the claims and johnson's office has confirmed that some gathered in downing street to celebrate his birthday during the first lockdown in 2020. a government report on the parties may be published this week. that could add to the palooka pressure on johnson. shares of general electric are lower today. ge's fourth-quarter revenue missed estimates. the company was hurt by supply chain pressures and the effects of the omicron variant. it is a setback for ge ceo larry culp's plans to brea

i'm ritika gupta.e signals that the fed is set to raise interest rates in the coming months. president biden spec for vice chair of the central bank lael brainard told a senate hearing that rates could be increased as early as march. fed governor crist for waller said that three rate hikes this year would be a good baseline. for a second time, australia has canceled the visa of novak djokovic. the immigration mr. overrode a court ruling that temporarily prevented them from deporting the tennis star. a new study out today on the omicron variant from south africa, where it was first detected. researchers say omicron causes less severe disease and the delta strain even in those who are unvaccinated or have not had a prior covid infection. that adds to evidence that while omicron is more infectious, maybe less harmful than some of its predecessors. sanctions aimed at stopping russia's nord stream 2 pipeline. opponents also said it is necessary to attain sanctions in order to prevent a russian invasion of u

i'm ritika gupta.. senators are close to agreeing on a russian sanctions bill, according to foreign relations committee chair bob menendez. the measure could include penalties even if vladimir putin does not send troops to ukraine. the biden administration will brief lawmakers this week on the standoff. ridge prime minister boris johnson has received that report of the government investigation into the so-called partygate scandal today. the probe into possible wrongdoing over parties at downing street during lockdown. johnson will respond to the report in a statement in the house of commons. north korea has added to the largest series of missile tests since kim jong-un took power. it appears to have fired one of its biggest ballistic missiles in almost five years. it flew southeastward for 30 minutes before landing in waters outside japan's economic zone. in pro football, it will be the cincinnati bengals versus the los angeles rams in the super bowl. the bengals rallied from an 18 point deficit to bea

i'm ritika gupta.his is bloomberg. ♪ >> i know this remains frustrating. it is frustrating to me. but we are making improvements. in the last two weeks we stood up federal testing sites all over the country and are adding more each and every day. jonathan: a little bit of pressure on this issue. from new york city this morning, good morning. your equity market unchanged. we are down a third of 1% on the nasdaq 100. the price action muted, here is the story out of the washington post in the last couple of hours. lawmakers begin earnings talks amid another round of coronavirus relief targeting businesses and not consumers. the early effort to focus on authorizing billions of dollars to help an array of businesses including restaurants, performance venues, gyms the face of potential blow from the story for much of the last two months. tom: we saw the distribution of money to small business the first time we went around this exercise was pretty molding and wondered how did they distribute that money given

i'm ritika gupta. u.s. jobs report is out less than an hour from now, and it is expected to show that payrolls grew by 447,000 in december. that would be more than twice the november figure and the unemployment rate is likely to dip 0.1% to 4.1%. it is a test for european central bank officials who insist that the spike in prices is temporary. inflation in the euro region spat up last month beyond record levels. consumer prices rose 5% from a year ago, faster than novembers gain and higher than the median estimate in the bloomberg survey. there's a showdown at the u.s. supreme court today. justice will hear argument on president biden's push to vaccinate millions of workers against the coronavirus. the conservative leaning court is likely to be wary of the assertion of broad federal power to fight the pandemic. you can add john legend to the list of super tarts cashing in on the boom for the market for music rights. he has sold his catalog to kkr. last month, bruce springsteen sold his entire catalog f

i'm ritika gupta.his is bloomberg. ♪ >> what we have seen over the last few decades is less a petition in more concentration. that held the economy back. jonathan: the president focused on the domestic issues, everyone else focused on international ones. your equity market is down and down hard again, point 9% on the s&p 500. futures on the nasdaq down 1.3 6%, after the monster turnaround. -4.9% at the lows. positive .5% at the close. crude, $84 a barrel, up .8%. tom: can we agree that across equity bonds, currencies, commodities, the correlation of ukraine is not as tight as it was 24 hours ago. jonathan: i don't know how much of yesterday's move was ukraine. tom: i am talking about the tensions yesterday more locked in. jonathan: underperformance spoke to some of those tensions. you saw the underperformance through europe through the sex and -- through the session. tom: it was comfortable yesterday. a lot of people saying what is the single thing i am watching, euro swiss backing up fractionally stro

i'm ritika gupta.his is bloomberg. ♪ >> if they are shutting down cities, you're going to have this spike and pullback, the kind we felt in the united states. suddenly you get back in china, and that means we are going to continue to have supply chain challenges across the world in 2022. it also means inflation has the ability to persist longer than you otherwise would have expected. jonathan: ian bremmer, president of eurasia group. from new york city, alongside tom keene and lisa abramowicz, i'm jonathan ferro. up 15 on the s&p 500. futures positive 0.3%. the gnostic 100 futures up 0.2%. in the bond market, another lift for treasury yields, up 12 basis points, higher by three basis points to 1.65% on tends in the united states. in news conference taking place. a virtual news conference at 5:00 p.m. u.k. time for the british prime minister on the pandemic to take place a little bit later. tom: you think we will see a few of those in the coming days from the white house as well. right now, as we saw ia

i am ritika gupta. this is bloomberg. ♪ >> once the covid shot passes and it starts to go back to normal, i do not see any reason the economy would not revert back to the low-inflation regime we have been in for 20 years. jonathan: neel kashkari, the president of the minneapolis fed, writing a really interesting blog, worth a read as he starts to pencil in two hikes for 2022. good morning. with lisa abramowicz and tom keene, i'm jonathan ferro. your equity market is down three. in the bond market, yields unchanged at 1.60 portray one on tens. this headline from the washington post. u.s. lawmakers held early talks on new covid relief. that is the initial headline. we will try to get more details. tom: let's stop the show for an important moment in yesterday's "bloomberg surveillance" where jon ferro ended our discussion on the debate of the moment, which is the efficacy of the pcr tests. i was stunned at the language. jonathan: i am stunned by this lead paragraph in the washington post. democratic and re

. ♪ ritika: ritika: with the first word news, i'm ritika gupta.he number of new coronavirus infections in south africa dropped on sunday, while the test positivity rate declined from 27%, according to data from the national institute for communicable diseases. the number of people hospitalized fell slightly on saturday, more evidence that the omicron outbreak is peaking. the u.s. considering adding a negative test requirement after last week's move to cut the covid-19 isolation period from 10 to five days. speaking on abc, u.s. chief medical advisor dr. anthony fauci acknowledged there was pushed back the shortened span without any further testing. the possible change would come at a time when many americans are struggling to obtain tests. resilient president jair bolsonaro was hospitalized in sao paulo earlier today with a case of intestinal obstruction, according to a hospital statement. he is said to be in stable condition, undergoing treatment. at the time, there is no set date for his discharge. a man who moved across the heavily fortified bo

i'm ritika gupta.olmes was found guilty of criminal fraud for her role in the collapse of her $9 billion blood testing startup sorrento's -- startup theranos. she was convicted on four counts of the 11 she had been charged with. she faces up to 20 years of prison, but is expected to appeal the decision. the white house is excited to nominate economist philip jefferson for a seat on the federal reserve board of governors. jefferson is an economics professor at davidson college in north carolina and has worked at the fed twice before. natural gas surged for a second day in europe. mark european gas jumped as much as 10%, extending monday's rally . supply is set to remain constrained after dropping to the lowest since february. 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. guy: thank you very much, indeed. we got the latest u.s. ism manufacturing numbers at the start of the

i'm ritika gupta. this is bloomberg. kriti: thank you. ng up, the biggest semiconductor deal in history is on the verge of falling apart. we will tell you why. this is bloomberg. ♪ ritika: it is time for the bloomberg business flash i'm ritika gupta. johnson & johnson forecast when he 22 sales and earnings that beat wall street estimates. the health care giant is preparing to separate its drug and medical device unit from its consumer business. the drug unit accounted for more than half of sales last year. verizon has given a signal that free phone promotions and 5g expansion is hurting the bottom line. the largest u.s. wireless provider beat estimates for subscriber growth, plus get a full-year earnings forecast that was better than expected. american express is putting the pendant behind it. the comey's boosting forecast for revenue after spending on its cards rose to a record. they are also increasing its dividend for the first time since 2019. that is your business flash. guy: thank you very much, indeed. nvidia is preparing to abandon

i am ritika gupta.is bloomberg. ♪ >> on this idea growth is decelerating, like so many things, potential sightings. it is like ufos. potential sightings. not confirmed. the housing market is accelerating. people will be much more willing to finance an asset if they think it will go up in value. tom: neil dutta with renaissance macro fired up about the gl oom crew. it got gloomier after he spoke in that huge rebound. the dow -300, the vix up. lisa: we feel the same generate uncertainty with the nasdaq leading the way down. tom: dollars strength 96.19. more data checks on television and radio through the morning. there should be a four hour conversation. it can be with ryan williams with his experience across institutional real estate in his own effort back by all of the beauty of the investment industry. we are thrilled ryan could join this morning. i have eight questions but lisa has 12 questions so i will get out of the way. what i see driving around new york and driving around america are empty commer

i'm ritika gupta.s is bloomberg. ♪ >> i think it is crucial for congress to pass some sort of voting rights reform or else we may be abdicating our democratic voting process and letting elected legislators or appointed electors of elected officials decide what the vote is after peoples's valid votes are discounted. jonathan: that was jane harman, president emerita at the wilson center. jonathan ferro, with tom and lisa abramowicz -- with tom keene and lisa abramowicz. tens at 1.64 20%. this headline from a u.k. spokesperson. "nothing in the covid data shows that more curbs are needed." that was the feeling coming out of 2021 into 2022. that was the direction of travel for the british government. tom: let's rip up the script here. there's a two day test, a five day test, and a pcr test. is it you're reading that prime minister johnson will move away from the certitude of a pcr tests over to a more antigen test? jonathan: that i don't know. i can tell you that rapid tests are more easily accessible in th

i'm ritika gupta.is bloomberg. ♪ >> what we as expected as this virus moves through the population if it picks up a mutation that makes it a little easier to infected that virus will become the dominant virus eventually. we are seeing some of the fallout in terms of new variant s emerging. jonathan: equity markets are down 2/10 of 1%. nasdaq futures are up one third. germany up for basis points, flirting with zero. negative about a basis points now. a big challenge for christine lagarde. tom: there is no way she can frame a powell tone. jonathan: no. the conversation that they ecb is whether they hike at all. we got a survey last week. our survey of economists 18 months out, middle of next year, the first move of the stb -- ecb. tom: right now joshua sharfstein with us. dr. sharfstein, it is good news whether it is the thousands assembled in kansas city for football or in the walkup, i live in, in the lobby there are polarities. we see hospitalizations rolling. we are waiting for deaths deaths to rollo

i'm ritika gupta.ussian foreign minister sergei lavrov said he saw some rational elements in the u.s. response to russian demands. president biden warned ukraine's president that a russian attack was possible next month. they also discussed ways the u.s. could help ukraine's economy. president biden says he will fulfill his campaign promise to know make the first black woman to the supreme court. the president says he will announce his choice by the end of february. justice stephen breyer has formally told the president he will retire in june or july, assuming a successor has been confirmed. in london, and acrimonious court battle over claims of false accounting has come to an end. the founder of autonomy corporation lost his fight with hewlett-packard. hp accused him of inflating the value of autonomy prior to hp's $11 billion takeover in 2011. hp is seeking $5 billion in damages. he faces four charges in the u.s. caterpillar reported fourth quarter earnings that beat estimates. increased demand and h

i'm ritika gupta.te department warning of the continued threat of action in ukraine. an advisory says security conditions are unpredictable and can get worse with little notice. the new york times said president biden is considering deploying forces to eastern europe on the baltic. president biden's chief advisor said the outbreak is headed in the right direction. it said covid infections and hospitalizations peaking soon but the decline will not be uniform throughout the country. and brussels, police used water cannons to break up demonstrators opposed to pandemic restrictions. 50,000 people took part. a new survey shows u.s. inflation and job shortages and it found that 53% of the companies responding do see prices in the fourth quarter at the highest in 40 years, they expect higher wage costs in the next three months. peloton's ceo to retire. shares up more than 80% from the all-time year ago. it is worried that the easing restrictions will hurt the company. global news 24 hours a day, online and at

i'm ritika gupta. this is bloomberg. ♪ >> i think infections have become somewhat slow after not seeing any pullback to these magnitudes. we are starting to see the market approach oversold territory and we start thinking about buying those dips. jonathan: nadia lavelle of ubs likes this correction and seemingly wants to buy it. from new york city, with tom keene and lisa abramowicz, i'm jonathan ferro. down another one point 3%, session lows are get on the s&p, we are down 0.8%. the losses billed in the last 30 minutes to one hour. yields come in three basis points on tens. crude rolling over now, down 0.9% to $84.37. apple shaping up as follows. on the year, we are down 8% or so, down another 1.55% in the premarket. for those of you the follow apple, you know there are 37 buys, eight holds, and only two sells. tom: it is such a lonely call, peter. how does the worry of product and product count fold back to the financial statement that gets you to sell? peter: yes, of course, always a bit lonely to h

i am ritika gupta, this is bloomberg. ♪ >> the guidance has changed, it needs to change.munication from the administration has been challenging. what we want to see from the cdc is not that they are taking political calculations, but rather that there looking at what is the best evidence and tracking that evidence as it changes and communicating. jonathan: chris berra was brilliant, the professor and epidemiologist at the johns hopkins bloomberg school of public health. i'm jonathan ferro. futures up 10 on the s&p, advancing 2/10 of 1%. a third of 1% on the s&p. yields unchanged. euro-dollar advancing around 1/10 of 1%. 1.1306. crude is up, 1/10 of 1% higher. heading towards payrolls friday, we will be consumed, drowning in the economic and about one hour 40 minutes. i want to bring up the story in china because it has not been talked about much. china calling on banks to boost real estate lending in the first quarter. they also ease the key debt restriction for developers. there is concern going on in the world's second largest economy. officials are worried about that p

this is bloomberg. ♪ guy: ritika gupta here with the movers.t to start with big tech because that seems to be dragging us lower today, still a turnaround from what we saw at the beginning of the week when that was more aggressive. really what is leading us lower today is tesla. they removed references of the cyber truck delivery from their website. asked what is moving as higher, it is some of your chipmakers and equipment maker's after reporting record profit and spending. we are watching some of our airline stocks, delta predicting a return to profitability despite havoc by the omicron variant. asked what we're looking ahead to, it is earning -- as to what we're looking ahead to, it is already season. analysts expect a 20% year-over-year growth in the fourth quarter. that would be the fourth straight quarter of double -- of double digit gain. alyx: i want to look ahead to the next 24 hours. today, president biden will meet with the senate democratic caucus on voting rights. you have to wonder what the push through of that is going to be in th

i am ritika gupta.berg. ♪ >> this is larger in scale and scope than anything we have seen in recent memory. i think it would have to go back quite a while, to the cold war days, to see something of this magnitude. they do annual exercises, but this is different. tom: the gentleman from the joint chiefs of staff with an update. many updates through the weekend as the message is managed in washington and the message is managed in europe. a great honor for lisa abramowicz and i to bring you someone who viscerally understands this story. as we spoke to the ambassador of france to the united states last week and his history of eastern europe. so to, george friedman of budapest. he is founder and chairman of geopolitical futures and has a family that has viscerally lived living near russia. what does the media get wrong about vladimir putin? george: he wants ukraine, but he did something very strange. he did not attack weeks ago. you do not launch an attack without surprise if you can get it. sitting there wa

i'm ritika gupta.sident biden has reaffirmed u.s. support for ukraine's sovereignty in a call with presidents a lot of your zelensky -- president volodymyr zelensky. sanctions on russian banks and commodity exports are among the measures being discussed. u.s. defense secretary lloyd austin says he plans to quarantine at home for the next five days after testing positive for covid-19. often says his symptoms are mild and that he will attend meetings virtually when possible. he said his last meeting with president biden was back on december 21, more than one week before he started experiencing symptoms. oil analysts expect opec and its partners to boost exports. a bloomberg survey suggests the alliance is likely to proceed with a hike next month of 400,000 barrels a day. 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. ♪ >> the fact is there is enough worry about inflation, th

i am ritika gupta. this is bloomberg. alix: stay with energy.ed by saudi arabia and russia agreed to revise limits on output. they will proceed with the 400,000 a day hike in february. julian lee joins us now. your biggest take away? julian: i am reading the words as everyone expected, very quick, no dissension. opec sees the market last week than it did a month ago. guy: in terms of what comes next, should we expect a series of these hikes? how much capacity does opec have? julian: they said they will add 400,000 barrels a day. there will probably not add more than three quarters of that because some members cannot produce much more than they are pumping now. they have said they will continue doing this month on month until they have restored all of the production they agreed to cut in april 2020. we can see this continuing unless there is something that knocks the market off course, either a return of iranian barrels or a slump in demand, which may trigger a pause in this process, but that is not looking likely. guy: thank you very much. julia

i am ritika gupta. dani? dani: thanks so much.hift gears to attack. -- let's shift gears to attack -- to tech. ezechi britton is out to change that. code untapped aims to increase the number of people intact from ethnic minority backgrounds. it partners with google and the department of education to run workshops and provide training and mentorship to young people. britton has also just been honored with the most excellent order of the british empire award for his services to diversity in young people. thank you for joining us. congratulations to our american viewers who did not would know what the mbe is, it is extremely impressive. you also have 15 years and just fintech alone experience. as we enter a new year, what has changed when it comes to diversity in tact? -- in tech? ezechi: a pleasure to be with you today. the major thing that has changed is the recognition -- we have moved further away from that, now it is how do we solve it. globally, everybody has to focus on diversity, improving representation. we have to look at h

i'm ritika gupta. this is bloomberg. guy: thank, indeed.y feels like if the carrot doesn't work, we are going to use the stick. alix: you have to wonder if the stick is going to wind up having to go to court. we know the supreme court is looking at prison bidens vaccine mandate. the arguments start today. is this the result of something we might see in the private sector as well? also, what does this wind up doing to the job market? i understand 90% of the workforce is vaccinated, but still, we have a labor shortage in some respect, and you have firing and rehiring. how is that going to work? guy: i think it is going to be really difficult, particularly for there's areas, frontline jobs anywhere, where people are nervous, worried. they don't want to wear a day. now they are being told they basically have to get the shot as well. it is going to mean that those jobs i think are going to be harder and harder to fill. alix: i should point out mary daly is talking right now. she is saying that the fed could adjust their balance sheet after one o

i'm ritika gupta.resident biden's choice of vice chair of the federal reserve says curbing inflation is the central bank's most important task in march. lael brainard says working people around the country are concerned about how far their paychecks will go. russia views talks this week with the u.s. and nato as unsuccessful, but says the kremlin will continue them if the west is ready to seriously discuss its security demands. the u.s. has set moscow must decide if it wants to resolve a standoff over ukraine or is just looking for a pretext to invade. president biden is deploying the military to hospitals in new york, new jersey, and four other states that are facing coronavirus surges. they will be used to ease pressures on overwhelmed health centers. this thanksgiving, more than 350 military medical staff have been working in civilian hospitals. in the u.k., prime minister boris bought himself some time with that apology, pretending -- apology for attending a downing street party during lockdown. as

. ♪ ♪ ritika: i am ritika gupta with the first word news.winter weather pummels the northeast u.s. storms don't upward of five inches -- jumped upwards of five inches. in boston, heavy snow is expected to last through the afternoon and 8.5 inches at laguardia airport. bridgeport, connecticut has 8.2. newark, new jersey has five inches. government offices were closed in washington, d.c., after two to five inches. in hong kong, about 100 70 people including officials have been sent to manda terry quarter teen -- quarantine -- mandatory quarantine. two guests at a party tested positive for the covid -- coronavirus. carrie lam criticize the party despite the pandemic warning. president biden and the first lady will travel to colorado to survey and meet with families impacted by last

i'm ritika gupta. this is bloomberg.hank you. 40 ceo jim farley is one of 10 business leaders who will doing president biden today to discuss the build back better economic package. earlier, we set down -- he sat down with bloomberg's emily chang to discuss finances and what he intends to do with their investment in electric truck startup rivian. jim: we really like rj and what he is doing. the fact of the matter is we are both in the same segments. so we will work through that. we really have always seen this as a strategic investment, so there's a lot of possibilities that we could do with rivian beyond just building a vehicle together. i won't go any further than that. kailey: sohn -- emily: so no plans to sell. jim: no, but we will look at everything. everything is on the table. our lockup period ends in the middle of may. our f-150 lightning is not out yet. they are just scaling up, so it is early days. i don't expect us to be in the same shopping in early days. it is very different than their truck. it is much smal

i'm ritika gupta.his is bloomberg. ♪ >> when it's needed to do mandates for certain reasons, let's do so and then come back around. this is the new reality. our city and school system must open. we must remain focused. >> the message from the new york city mayor. good morning. love this tweet, hear me out. abramowitz doesn't get covid, covid gets abramowitz. yields do nothing. crude positive eight, let's call it 9/10 of 1%. that interview with new york city mayor eric adams on this network in the last 24 hours. here's a quote for me, they cannot do their jobs, you cannot run a city like new york on 30% occupancy buildings. new york city mayor wants to get people back to work. tom: mayor adams gets right into it. what i would suggest in this is so important. lisa and i had it. the answer is all eyes turn to 1600 pennsylvania avenue. and reorder and has spent a lot of time thinking about the -- anne-marie hord turn -- anne-marie has been thinking about the options the president have -- has. what do we ne

i am ritika gupta.is bloomberg. ♪ >> we are in the early stages of running out of raw material. we live on a finite planet. there's only a certain amount of cheap oil, cheap copper come and we are beginning to hit some of those boundaries. we will live in a world of bottlenecks and shortages and price spikes and we have to get used to it and learn to manage our way around. tom: by immense affection and respect for the gentleman from boston, jeremy grantham. a good conversation. front row wednesday at 10:00 a.m.. they'll be on the terminal like global wall street. whether you are cautious or not, it is must listen. it is must listen on this time of day when every jeffrey lacker considers 4% inflation, that lisa and i should parachute in will kennedy. he is in houston with our leading texas oil team. we are near $90 brent. is that an important benchmark? will: i think it will be quite a signal to go through $90 for the first time in eight years. it would get people talking about the possibility of $100 oi

i'm ritika gupta.his is bloomberg. ♪ ♪ jonathan: from new york city, for our audience worldwide, alongside tom keene and lisa abramowicz, i'm jonathan ferro. ppi data just moments away. 12 minutes away, to be precise. your equity market advancing 0.1% on the nasdaq 100, up more than 0.1%. the story on the bond market on the session and only year come on the session down by almost 0.1%. on the year, by more than 20%. the dollar is weaker on the year , despite the fact that yields are higher. the dollar index is down 0.9 percent. euro-dollar on the year so far is positive 0.1%. we are back with a 1.14 handle at 1.1461. tom: in this hour, lisa shalett with us of morgan stanley. jane foley can join us from london, head of foreign strategy at rabobank. how is the foreign strategy different now from where it was 13 days ago? what has changed? jane: if we go back to that last full week in december, we had all of those central-bank meetings, and euro-dollar did better, and i think that was the warning sign was

i am ritika gupta. this is bloomberg. largest airline taking a cautious view on the pace of the travel rebound we will see. it plans to cut prices to stimulate demand. will that work with current restrictions in place? we spoke to the cfo earlier to talk about what could be one bright spot going forward. >> travel passports will play a big role over the next number of months. there will be a gradual lifting of restrictions, the u.k. lifting theirs and i think others will follow suit around easter or summer. guy: with us now is alex irving, european transport analyst. he has a market perform rating for ryanair. let's talk about where ryanair is, where the sector is out of omicron, out of january into february and the summer. i am cautious, but i guess you have to be at this point. what you read into what was said today? alex: in general we have two airlines last week. ryanair, what you had was a negative price affect with omicron throughout december. [indiscernible] you missed those bookings right at the end. that goes ont

i am ritika gupta. this is bloomberg. alix: thanks so much.loff picking up steam to the downside. s&p down 3%. the nasdaq also down almost 4% at the moment. joining us is sonali basak. she is going to florida for money managers conference and leaving tonight. it is quite a backdrop. walk us through the backdrop you will be asking these guys. what do they think of a day like today? sonali: for one thing, what is the floor? how much more pain we have to go through. bitcoin hit 29,000 last year and bounced back up. if that is a resistance level, there will be a ton of crypto tomorrow. where do investors put their money? is this now the time to invest in hedge funds? if you look at the money made last year, we reported that hedge fund in credit was up 17%. they have the fed put. that is what will be what is going way. guy: what do they think the fed put will look like? do they think it really exists? i'm wondering what the conversation will be? credit is behaving, crypto is getting slammed, yet we have a fed meeting on wednesday and the expectatio

i'm ritika gupta. shares of eric -- of ericsson rose the most in almost a year.son has had to do with supply chain problems. >> supply chains around the world are very constrained, and it is difficult supply situation. so far we have been able to cope with the supply constraints, and the uncertainties are going to be here for, i foresee it into 2023, actually. ritika: ericsson sales sell in china, but that was offset by demand for 5g and the rest of the world. unilever plans to cut about 15% of senior management roles, roughly 1500 jobs. bloomberg reported earlier that the ceo believes the number of managers at the consumer goods giant has slowed innovation. those cuts come at a time when activist nelson culp has taken a stake in the company. guy: thank you indeed. interesting to see whether the playbook works this time around. has had some interesting impacts. p&g obviously stands out. but it is going to be i think a story of trying to upgrade some of these companies in terms of the growth outlook. demand is strong everywhere right now. you've just got to be in

i'm ritika gupta. this is bloomberg. alix: thank you so much., all of those cancellations. let's get to the virus for a second. dr. anthony felt he says a testing requirement could be paired with a shortened isolation period for those who test positive for covid-19. dr. fauci: the cdc decided they would cut that down to five days if the person remains a some thematic, so long as when they do go out in the second five days of that ten-day period, back to work or back into society, that they diligently wear a mask. you are right, there has been some concern about why we don't ask people at that five-day period to get tested. that is something that is now under consideration. the cdc is very well aware that there has been some pushback about that. alix: we also learned earlier today that pfizer'a booster -- that pfizer's booster has been cleared for children ages 12 to 15. joining us for more is dr. katherine poehling, wake forest school of medicine professor. day in the u.s., schools reopen for the first time after christmas holidays. most schools

i'm ritika gupta. this is bloomberg. guy: thank you very much, indeed. putting a damper on travel over the last few days and weeks. global flights on january 4 were down to 7% from 2019. nevertheless, travel stocks have been surging over the last few days on an expectation that may be omicron is going to be over a little more quickly than we anticipated, and the effects are going to be milder as a result of which maybe we can all get back to traveling a little earlier than we anticipated. glenn fogel, he bookings holdings president and ceo, joins us now. happy new year to see you. the sense certainly seems to be in north america and here in europe that maybe we do get through this a little bit more quickly. what is your feeling about this omicron wave? glenn: thanks for having me, and happy new year. i certainly hope that does happen area i think everybody stares at the south african numbers all the time because they seem to have gotten it first. they seem to have peaks. the numbers are going down there rather sharply. we are hoping to see when things pe

i'm ritika gupta.s is bloomberg. ♪ ♪ >> it is going to be a really good year, but it is going to be slow growth versus last year. what we expect is that some of the heat will come out of the job openings space, which will take some of the heat out of wages. wages will still remain elevated, but they are not going to be running at a 6% pace. jonathan: the brilliant tom porcelli, chief economist at rbc capital markets. from new york, alongside tom keene and lisa abramowicz, i'm jonathan ferro. going into the jobs report for the month of december, equity futures up three, up around 0.06%. not doing much. yields higher by a single basis point to 1.7337% after a big move higher of around 20 basis points on the week. the payrolls report coming up shortly. the estimate, 450,000. a sneak peek of next week's cpi focus on wednesday, the median estimate in our survey so far, 7.1%, up from 6.8% previously. that is your headline year-over-year. strip out food and energy, 5.4% the estimate. 4.9% the previous number.