i'm ritika gupta, this is bloomberg. >> welcome to "bloomberg markets." matt: here are the top stories we are following for your around the world. stocks ticking higher with tech leading the way. the nasdaq 100 is near the session highs, tech gains aided by elon musk as he becomes twitters biggest shareholder, the move coming a week after hinting he might shake up the social media industry and now he has done so. hurts has penned a deal with ev startup polestar as they work towards becoming the largest fleet of electric vehicles to rent in north america. we will speak to both ceos about the deal. john? jon: let's get a quick check on what's happening with the major averages as we start a new trading week. green on the screen. matt highlighted the tech trade that is outperforming today. the nasdaq with a stronger percentage showing up above 1.5%. going under the hood, though, the issue of where the economy goes from here is still front and center. jamie dimon's annual letter is always hotly anticipated and this year a lot of focus on inflation in the fed.

i'm ritika gupta. this is bloomberg. ♪ i'm ritika gupta.s is bloomberg. ♪ >> we have the feeling that president putin is throwing all of his might into the east of the country. we have to end this humanitarian disaster and make them understand that he is i who leading russia, that this war is a war he cannot win -- he is isolating russia, that this war is a war he cannot win morally. he has already lost. tom: this is going to be a big deal. maria tadeo with us in luxembourg, and in washington, annmarie hordern. get out the map. india is miles from moscow, but it is not because it does not border, but it touches upon the -stans, to giga stan -- to chic a stan -- tajikistan and giga stan -- and cared to stan -- and kyrgyzstan. annmarie: one of the reasons why india is in this difficult position making sure they are not openly condemning what is going on, you saw what they did last week in abstaining again at the united nations when the rest of the world wants to revoke russia out of the human rights council. what you have is an india that is

i am ritika gupta. this is bloomberg. ♪ i am ritika gupta.s is bloomberg. ♪ tom: bloomberg surveillance, a very special bloomberg surveillance from the headquarters of the international monetary fund, an historic time for the institution and a true cookoff of news on this day. we will get to twitter in a moment, we have bank earnings, and we have the reality of the war in ukraine all in the last one he four hours. -- last 24 hours. lisa abramowicz with me and jonathan farrow on sabbatical. it seems every conversation we have his back to food and wheat. lisa: frankly that is a game changer. people go hungry and that changes the game when it comes to international economics and politics and you see that already in sri lanka, you see that in peru and you see that in other places around the world. as wheat prices spike and frankly as ukrainian fields continue to get bombarded. tom: it harkens back to the arab spring tensions starting in tunisia and eric martin our expert on imf has a maximum focus on egypt. lisa: especially as ramadan kicks off a

. ♪ >> keeping up-to-date with news from around the world, i'm ritika gupta.ncircled by russian forces, ukrainians have not surrendered. ukrainian officials have warned of additional airstrikes. many remaining troops in mar iupol are sheltering within a giant steelworks. history suggests the federal reserve will have a hard time calming inflation without causing a contraction. it is not inevitable because those pandemic normalizations in goods prices will help the fed. u.s. and treasury officials say that congress is to blame for internal revenues -- lawmakers have seriously underfunded the agency and that led to the departure of personnel. there is a new twist -- there is an indication of interest well in -- southwest will now explore a sale of the company and other options. global news, 24 hours a day, on air and on bloomberg quicktake, i'm ready go group that. -- i'm ritika gupta. this is bloomberg. ♪ >> inflation is probably peeking in the u.s. but not elsewhere. you get to the point where there will be debt problems, but it is not because they did not get

i'm ritika gupta.resident macron in a runoff election. it will reverberate across europe. micron -- micron -- macron receiving -- of the vote. he is leading le pen 54-46. the ukrainian president expects russia to turn to larger scale attacks. he has been warning for days of a new offensive. he understands there will be much more russian weaponry than there is now. a twist in the week long saga of twitter and elon musk. winter said he decided not to join -- winter said he decided -- twitter said he decided not to join the board. in china, the country's largest covid outbreak in two years continues to spread, whether 26,000 new daily infections reported in shanghai sunday, an all-time high, despite an extended lockdown. frustration building amongst the population cost they struggle to get food and -- the population while they struggle to get food and medical care. 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'

i'm ritika gupta.kraine says russia launched a full-scale offensive to take control of the dundas area. russia has made capture of the dundas its main goal now that it failed to get kyiv. st. louis fed president james bullard says the central bank should not rule out rate increases of 75 basis points to fight inflation in a presentation to the council on foreign relations. he also says the fed needs to move quickly to raise rates to 3.5% and says talk of a u.s. recession is premature. china sees multiple risks to the economy as coronavirus are breaks keep growing. still, it pledges to meet its ambitious growth target and stabilize jobs. the economy still has teaching advantages, the government says. most major u.s. airlines are no longer requiring travelers or employees to wear masks on domestic and some international flights. i can hours after a federal judge overturned a mandate. the airline industry had lobbied these the rule. meanwhile, uber is dropping its own mask mandate in the u.s. apollo globa

i'm ritika gupta.et's get to first word news. russia is calling this the second phase of the war in ukraine. early indication that it could go better for russia than the first. forces are looking to circle the eastern area and hauled as much as 40% of ukrainian troops in the region. china says it will keep boosting to teach it ties with russia, as a diplomat indicates, the relationship remains solid despite growing concerns of war crimes. the biden administration has not figured out how to respond to a federal judge striking down the mask requirement for plane and train travel. the mask mandate had been losing support even amongst some democrats in congress, well before the court ruling. netflix is throwing out its old rules after losing customers for the first time in a decade. they will institute a cheaper ad-supported option over the next couple of years. it will also crackdown on people sharing passwords. they project losing 2 million customers in the quarter. shares are plummeting today. mortgage

i'm ritika gupta. this is bloomberg. ♪ >> ukraine is fighting a defensive war.e need both support with weapons, but also to step up sanctions and welcome the fact nato allies are now in the process of stepping up further sections -- further sanctions on russia. jonathan: jens stoltenberg come the nato secretary-general, in brussels this morning. good morning to you all from new york city. futures on the s&p up 0.2 5%. on the nasdaq 100, bouncing back by 0.4%. the last two days have been brutal for the nasdaq, down by more than 4% over two straight days. the note from dan ives at wedbush got our attention. "great news is baked in -- "rate news is baked in. we believe the tech sector is as oversold as we have seen since 2015." tom: on the masters starting today, how is sir nick treated in your united kingdom? jonathan: very well. why wouldn't he be? in the commentators box, i think he's great. tom: this is going to be fun. insecurities analysis, when you are on a juggernaut that everybody has been wrong on for years, let's go back to 2016. this was quoted in the b

i'm ritika gupta. this is bloomberg. ♪ >> the russians obviously miscalculated the extent of ukraine's resistance which has been heroic. jonathan: john bolton, the former u.s. national security advisor come on bloomberg in the last 24 hours. from new york city this morning, good morning. futures are -0.2% on the s&p, about an hour and 12 minutes away from the opening bell. yields higher by eight basis points. 2.4745%. tom: we have prided ourselves on chart number station of this war in ukraine, from general commit the other day, and yesterday john bolton, and thank you for the comments. always informative and controversial. we continue that discussion today. we do so around the carnegie endowment for international peace. this was formed out of andrew carnegie's outrage of world war i. he died within a year of the end of that war. andrew weiss joins us this morning, vice president at carnegie endowment for international peace. i want to talk about autocracy. from the past, it is hitler's, it is stalin.

. >> keeping up-to-date with news from around the world, i'm ritika gupta. vladimir putin declared pc's a key city of mario paul, the biggest taken during russia's two-month invasion. russia's defense minister says more than 2000 ukrainian troops are held up in an industrial complex in mario paul, demanding those troops surrender. the u.s. justice department will appeal a federal justice ruling that throughout requirement for public trans rotation, that sets of big legal fight that could last the on the midterm election. and airlines have dropped their own rules that some trans operators have less requirements in place. shares of tesla are rising. the electric vehicle maker reported better-than-expected results for the first quarter and beat estimates with a record profit. elon musk predicted an output would grow at a fast rate the rest of the year despite those supply chain issues. in china, president xi jinping defended the country's reliance on lockdown to fight the coronavirus despite mounting economic woes. he reaffirmed the underlying goals of minimizi

i'm ritika gupta. this is bloomberg. ♪ >> i think the most important thing for the united states right now is to say united with its nato allies to continue to put pressure on the sanctions and try to squeeze them and enforce them, and to provide the weapons that are absolutely essential if the ukrainians are going to continue their brave fight. >> that was leon panetta from the panetta institute of public policy. up 0.2% on the nasdaq 100. on the s&p 500, up about 0.1 percent. yields higher by three basis points to 2.88% on the best 10 year. 12 minutes away, we will catch up with mike mckee and get some housing data. building permits, housing starts for mike mckee, for the u.s. in about 10 minutes. tom: they may not show a 5% mortgage rate, but there we are with a new high mortgage rate. jonathan: it is going to hurt a lot of people. tom: it is tangible now, certainly the talk was a new york city as well. this is a joy because if you grew up in the plains of kansas and you go east over to washington t

i'm ritika gupta. this is bloomberg. ♪ ♪ >> if you can let it ride with elon musk, why not?s not laid out his plans except for his views on free speech. so we don't know what he's going to do on the cost structure. we don't know if he's going to bring it in and run the company. betting on elon musk has been a good bet for everyone, so why not continue with that bet? jonathan: the words of michael nathanson of moffat me fincen. from the -- of moffat nathanson. from new york city this morning, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. futures down 0.4%. a big day for tech earnings. warner bros. discovery ported earnings a little bit earlier. on the earnings call, "we will not overspend to drive subscriber growth. we could launch an advertising only service outside of the united states." tom: with the stock price, i would suggest on their synergy the word is we will speed up. i think they will move absolute light speed. they really don't have a choice. we have a choice, which is to talk foreign exchange. that always leads us to the competencies

i am ritika gupta and this is bloomberg. ♪ tom: good morning, everyone. keene and lisa abramowicz and the meeting of the international monetary fund. our conversation later with the managing director of the imf. she is on twitter, we are on twitter watching elon reeve mosque, the economics major of the university of pennsylvania look at the physics of twitter. [laughter] abramowitz is up to speed on this because i was on twitter tweeting elon. what is mr. must doing? lisa: he filed an amendment where basically he was coming out and saying he wants to buy twitter in all cash for -- cash which represent a 50% premium over where twitter traded in january and he talked about how he can unlock the potential of twitter. tom: folks, this has been in the bloomberg museum. would you suggest he is doing this in a proper manner where it is not like devious on twitter or anything like that? lisa: this looks formal. devious manner, there's not necessarily saying should i buy it or not buy it poll. tom: alex webb joins us, bloomberg opinion columnist and a guru on twit

i am ritika gupta. this is bloomberg. ♪ pres.en: and one year our sanctions are likely to wipe out the last 15 years of russia's economic gains. because we cut russia off from importing technologies like semiconductors and encryption security and critical components of quantum technology, that they need to compete in the 21st century, we will stifle russia's ability and its economy for grow two -- grow for years to come. jonathan: good morning. futures on the s&p and nasdaq bouncing a little bit back on the s&p 500. we are higher by .3% on the nasdaq 100, up .5% from the eu. just in reporting on how sanchez are going, in that debate,, hitting a snag. they're aiming to reach an agreement on this today but that is the current snag. over what time period and other details too? tom: we are learning new things each and every day away from the horror of this, the immediacy of ukraine. jack fitzpatrick in washington, always wonderful, maria tadeo, in brussels with us as well. maria, i am learning about coal, learning about a wonderful b

i'm ritika gupta.his is bloomberg. ♪ >>>> we have to consider which sanctions hit putin and which sanctions in the short term hurt us more than him. jonathan: the german finance minister christian lindner speaking to annmarie hordern. it is thursday morning. good morning to you a. up 0.8% on the s&p, up a little more than 1% on the nasdaq 100. tesla earnings good. united and american even better. those two names in the premarket , absolutely surging. a pop by more than 8% on united, up by more than 10% on american airlines. talk about the return of the domestic leisure travel story over the last 12, 18 months. now it is all about international, about business travel making a comeback. some of these names across the board over the last week delivering some decent numbers and a decent guide. tom: it is a healing with the huge government support they got. the answer is we kept the transportation network going, but as lisa mentioned, to me it is hugely behavioral. people are willing to plan vacations, get

i'm ritika gupta. this is bloomberg. ♪ >> the united states policy is the sanctions continue until president putin is no longer there. there. >> we can in europe make a virtue out of necessity, not only moving away from russian energy, but moving toward sustainable energy, renewables. it is a process. it takes time. my strong sense is europe is committed to doing that. jonathan: antony blinken, the year -- united states secretary of state. the s&p down on the we come up on the session about .1%. yields higher by a basis point on the u.s. 10 year. on china to pelosi, not wishing for the best after she tested for -- tested positive for covid. here is the quote. it will be a malicious provocation to china's sovereignty, gross interference in its internal affairs. they say an extremely dangerous political signal to the outside world. not exactly get well soon to the foreign minister. tom: when i first heard of closely' trip, i thought -- pelosi's trip, i thought was a provocation. i think everyone within i

i'm ritika gupta. this is bloomberg. ♪ jonathan: some breaking news for you. the offer from elon musk, $54.20. the price now getting close to it, up more than 5%. twitter said to be on track to reach a deal with elon musk as soon as today. according to a source, they are in the final stretch of renegotiations. they may ink a deal as soon as today if these talks go well. they also say the deal could be delayed or fall apart. this coming after a report over the weekend that elon musk met with twitter executives over the weekend. twitter, $51 $.65. we are up by more than 5.5% in early trading. tom: i go to the terminal and the acclaimed bq screen and look at price to sales. twitter is such a growthy story, and so much about hopes and prayers and all the rest of it. we all know this ballet. i really don't go to profit metrics. i just want to know what the price to sales is. i've got a working number of 7.69% at a price of $48, now $51, $52. maybe we will get to eight times sales. jonathan: the price action

this is first word paradigm ritika gupta -- word paradigm ritika gupta. 25 million people to attain necessities and medical care. many say the cure is worse than the disease. shanghai's reaction could inspire other cities to resist lockdowns. in sri lanka, the government is struggling to resolve an economic crisis. originally, the protests were about food shortages and inflation. now demonstrate her's one the president to step down. criticism that nestle did not scale down russian activities quickly enough. after pressure last month, the company suspended the majority of its manufacturing in russia. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i am ritika gupta. this is bloomberg. >> thank you. let's continue the conversation on ukraine and food. in a matter of weeks, the war has led to we humanitarian crisis -- to a humanitarian crisis. billions of dollars in food aid will be needed to ever mass starvation, mark lowcock says. he joins us now. can you talk us through the latest data we are seeing on what

i am ritika gupta. this is bloomberg. >> we are still bullish on oil. we see oil trading up to $125 a barrel. i want to emphasize that what this does is it crowds out more investment. it makes a small term worse because ftr release is not a long-term solution to underinvestment. jonathan: jeff perry of goldman sachs, his call is still $125 on prude. equity futures are negative by 1%. on the nasdaq 100, down by 1.6%. the bond market eating into the equity market gains. yields up by seven or eight basis points. a move of 262 on the 10 year. crude is up by one point to 8%. there is a house subcommittee hearing on oversight and investigations of the committee on energy and commerce and the title of that later this morning, gouged at the gas station. big oil and america's pain at the pump. it is not -- tom: bill cassidy is from louisiana. he is a force in baton rouge wedding 59% of the vote in 2020. before we dive into the clear and present gouging, i need to talk to you about the distance from detroit and the democrat deborah

i'm ritika gupta. this is bloomberg. ♪ ♪ >> we do not control the market, nor of refined product gasoline and diesel fuel, and we have no tolerance for price gouging. jonathan: mike wirth, the chevron ceo, after the oil majors were hauled in front of congress. from new york city this morning, good morning. on the s&p, just turning lower in the last couple of minutes. on the nasdaq, still elevated just about, up by almost 0.1%. we get to 2.6258. we are kicking higher again. tom: almost taking a pause here, but yet, there we are stuck at these levels. it is all most unimaginable to think of the two-year at 2.80%. jonathan: we are not far off, are we? tom: the curve inversion shows a little bit of constructive pause here. there's confusion in california from chevron, confusion seen in washington from texas oil types, new york oil types. there is confusion in moscow. will kennedy is the executive editor for energy confusion at bloomberg, and we are thrilled he could join us this morning. give us some clari

i am ritika gupta. this is bloomberg. ♪ >> everything that happens is very logical. it is a catharsis for the human rights council. i'm quite satisfied with the result. jonathan: that was ukrainian ambassador to the u.n. futures positive on the s&p and the nasdaq. on the alstom be -- on the s&p up .25%. yields up by three basis points on the 10 year to 2.6849. crude up 1%. going into an election, the first round of the vote in france, euro weaker .2%. euro-dollar 1.0 861. it will be interesting to see. if there one thing i'm watching, dxy. we have not printed 100 yet, but we are right there. jonathan: close. tom: down 10,000. it is the benchmark. jonathan: do you have a cap for dxy 100? tom: i don't. we will do some merch. we have had a stunning week in discussing the western response to this horror in ukraine. we finish strong on this friday with kristina kvien, which is what america is about, when you come out of school and you join this strange thing called the foreign service. her first tour of duty

i'm ritika gupta. this is bloomberg. ♪ >> i think it will take some time to get inflation down because there's other things going on in the economy that are adding to price pressures, including the commodity price increases and energy price increases that are happening as well. so i think inflation will remain above 2% this year and even next year, but the trajectory will be moving down. tom: the retta mr. with margaret brennan -- loretta mester with margaret brennan on "face the nation." the gentlelady from cleveland there, the mathematician away from transitory, looking at the persistence of inflation. see that in the market this morning. these are markets on the move as we speak. 2.76% with real deterioration, a 23 vix moments ago. lisa: the idea that the 10 year yield is directly correlated to a further drop in stocks, and you are seeing a disproportionate increase in some of the volatility in tech stocks. i want to focus on crude. the volatility has just been shocking. you talk about the vix, but

i am ritika gupta. this is bloomberg. ritika gupta.his is bloomberg. >> with the rebuilding costs ultimately in ukraine are going to be enormous. certainly looking to russia one way or another to help provide some of what is necessary for ukraine to build is something i think we ought to be pursuing. tom: the secretary treasury chair yellen with some important nuance moving forward the story of the united states and the war in ukraine. we have a conversation with janet yellen later today on bloomberg with david westin. right now, this is important because it speaks to the heritage of the nation. if long ago and far away you are an agent and you come into -- you are an asian and you come into california and you are good at mathematics, maybe you go to washington. it is not mr. smith goes to washington. it is mr. singh goes to washington. daleep singh was the first asian in congress in 1957. he is joining us now from the white house as deputy national security advisor on international economics. your title is baloney. what you really are

i'm ritika gupta.his is bloomberg. ♪ >> it is unacceptable that civilians are targeted and killed. it is also important that the international criminal court has opened an investigation into potential war crimes in ukraine, and that all facts are on the table and that those responsible are held accountable. jonathan: the nato secretary-general on cnn over the weekend following disturbing images coming out of ukraine. the nasdaq 100 up a third of 1%. two-year yields come down three basis points. the curve still inverted. that spread negative about three basis points but off the low of this morning. crude reclaims at 101. tom: right now, we speak of the unspeakable. with us is daniel tennenbaum from oliver wyman. i want to go to the time i spent in london with john taylor of stanford, who was international treasury secretary. the weight on his shoulders, of explaining to america you had to grow up and figure out where the money came from. nothing has changed. your words suggest the gazillions of dollars

i'm ritika gupta. this is bloomberg. ♪ this is bloomberg. ♪ >> is about earnings and cash flow, and we are getting to a different metric. i think for the rest of the industry, you will have a hard time selling me on a some of the parts story. the market has finally seen this and has rethought how they look at these companies, which to me is healthy. jonathan: michael nathanson, great to catch up with him yesterday, of moffitt nathanson. netflix again lower by 3.4%, does not quite as much as yesterday session. up 0.9% on the s&p. helped up by one name on the nasdaq, helped out by tesla in the premarket, doing nicely this morning, up by 7.5%. tom: what we are trying to do here at "surveillance" is talk to the smartest people on wall street on this. people keep score. dan ives is a complete pain because he has been so right on big tech, often voted -- often quoted, but i want you to go to the debacle of the last 24 hours including tesla. muggle packed her nailed it -- michael baxter nailed it on netflix.

i'm ritika gupta.tish manufacturers raise prices at the fastest pace in more than four decades creed it is their attempt to cut at soaring raw material and energy costs. more price hikes are on the way. credit suisse is considering its second board management overhaul in as many years. ceo thomas gottstein is struggling to turn around the bank after a series of scandals and profit warnings. bloomberg has learned credit suites may repay's long-standing executives on its management board, including its top lawyer, cfo, and the head of the asia-pacific region. volatility spurred by russia's invasion of ukraine. the bank made $640 billion from emerging markets trading in the first corner. our clays cashed in on the russian and ukrainian credit default swaps. that is your latest business flash. guy: thank you very much, indeed. isaac we get numbers from barclays thursday. this is a fantastic scoop on the bloomberg. what i want to know is how much risk did they take, how much do the wall street banks take si

i am ritika gupta.his is bloomberg. ♪ >> we see a bit of excessive hawkish nest driving markets at this juncture. at the end of the day i see a rate background that is more conducive of equities and it is a relative call. at this environment the place he did not want to be as fixed income. tom: jean boivin of blackrock investment institute. someone widely predicted to one date run the bank of canada. here on your equity debacle of friday and on the continuing debacle this morning, gina martin adams joins us, our chief equity strategist. what is your single clarion note this morning on what happened friday? gina: i think friday was a continuation of what happened all week, and that is the market starting to get quite concerned interest rates would go much higher much faster than we had anticipated and some concern the fed will attack the balance sheet with quantitative tightening. i think the market was tiptoeing its way into pricing a tighter fit, but now we are just going full steam ahead. tom: is ther

i'm ritika gupta. bloomberg. ♪ >> companies have gotten much better at combating margin pressures. technology has been a structural margin winner over time with much bigger impact now than it has in the past. jonathan: much less constructive own energy, a little bit more so on technology. an interesting conversation this morning. nasdaq up a 10th of 1%. crude up more than 1%. yields higher by a single basis point. a jamie dimon letter to get through over at j.p. morgan. something for everyone in this. this line on russia, not worried about direct exposure to russia that we could still lose about $1 billion over time. tom: i would emphasize $1 billion over time for j.p. morgan isn't that much money. he made that clear in the letter, when you look at the scale of what we normally see from james dimon. it is something about that most bankers could write this letter and we will not dive into that right now but we are going to dive into the financial tone set by mr. dimon. marcus is an expert at doing that.

i'm ritika gupta. boeing is hiring the three biggest u.s.puting companies to help with a digital makeover. the goal is to give its airplane designers and software developers more tools. boeing has agreements with amazon, microsoft, and google. the company plans to shift hundreds of applications to the cloud. internal testing on an edit function in the months ahead. the company said work on that again last year. elon musk started a twitter poll monday, asking if users wanted the edit function. that came hours after it was announced musk has become the largest shareholder. executives at jet who believe they can when antitrust approval for their takeover for. they also say they would pay spirit a breakup fee if regulators blocked the deal. spirits as they will evaluate the offer. two years ago frontier reached an agreement to acquire spirit. that is your bloomberg business flash. guy: thanks very much, andy. kaylee, i guess robin hayes is thinking, there are not many options left. as a result of which i need to jump in on this one put some mone

i'm ritika gupta. get to first word news. you is threatening china for sanctions if they assist russia. wendy sherman says they are not helping by amplifying russian disinformation campaigns. in china, demand for oil is following the most since the early days of the pandemic. demand is expected to follow 20% from a year ago. china's zero covid policy has humbled large parts of the economy. emmanuel macron is getting closer to winning another term as president. marine le pen is running out of time to narrow the gap between them. she needed to land a major blow in the presidential debate wednesday night to catch up but failed to do so. an international arrest warrant for former nissan head carlos ghosn. he now lives in lebanon after a daring escape after facing charges of financial wrongdoing. 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. >> business travel across the atla

i'm ritika gupta, this is bloomberg. ♪ >> the impact of the war has so far been contained. have been affected, especially fields which have large exposure to russia and ukraine. jonathan: the words of the ecb vice president. difficult moments for european policymakers. we are down .9%, s&p 500. yields climb higher. quicklook accrued, $103, -- crude. the president of ukraine says vladimir putin's aim to conquer all ukraine remains undiminished. that last point is going to be an issue. tom: within all the talk and the media splash, this war continues. too important of a conversation. truly extraordinary. evelyn and her family are out of hungary, they know the experience of moving out of cottonelle europe to america. -- continental europe to america. through her public service to president obama, she is now on the same page as john bolton. extraordinary. we had him on the other day. both of you say get over it. we are not going to start world war iii. discuss what america can do amid this fear we have that omg, we will have world war iii. evelyn: what i have been arguing, and

i'm ritika gupta. this is bloomberg. ♪ >> this is a defining moment.ecisions in these days will shape decades to come. our response to russia's aggression today will decide the future of both international systems and the global economy. jonathan: that was ursula von der leyen, president of the european commission. futures are -0.4% on the s&p, on the nasdaq 100, too. after the close, you will hear from apple bet and microsoft -- from alphabet and microsoft. meta tomorrow. i can hardly wait to hear from mark zuckerberg. tom: just think if they merged. jonathan: meta and what? alphabet? tom: alpha meta. [laughter] jonathan: i cannot see that happening. tom: jon and i watching em. we now bring it up with joe mathieu. it is something a bit off the radar, but it just won't die. the gentleman from west virginia will not let the keystone pipeline die. we are balanced and all that. where is the keystone pipeline in the zeitgeist of mr. manchin and everybody else in the mathieu world? joe: it is bubbling. we would not be having this conversation right now if t

i am really good to -- ritika gupta.his is bloomberg. ♪ >> this president is dispatching his team to do everything we can to help ease energy price pressures. most notably, a very aggressive release of bear was of oil from the strategic -- barrels of oil from the strategic reserve. tom: jared bernstein, an astute student of our labor economy. providing service to joe biden for many years before the presidency and the council of economic advisers. i want to bring your attention to the headlines from mayor adams. he will join "bloomberg surveillance" later this morning and we hope to bring you that in the 8:00 hour. exceptionally distracted this morning. there is a person of special interest who is at large within the five boroughs or perhaps philadelphia, milwaukee and other parts of the nation. we are distracted with futures of 26. jp morgan out with what i call jp morgan-like earnings. delta doing quite well this morning. where are we on delta, a 4% at one point. the dollar ascending this morning. my other message is th

i'm ritika gupta. this is bloomberg. >> welcome to bloomberg markets.dian consumer prices jumped to a new three decade high. investors preparing for another aggressive interest rate hike in the coming weeks. the fed will release its beige book today with money managers saying rate are overdone. and we hear from the bmw ceo on why it's bringing its first all electric car to the market despite supply chain challenges. all that and more coming up. john: a bit of a whipsaw session. focus on earnings under the hood. the nasdaq 100 under pressure. there are participants betting we have seen the worst of inflation. the story is very difficult to ignore. case in point the canadian situation today. march prices rising 6.7% that was well above the expectations on the street. in reaction, let's not forget last week the bank of canada raised interest rates by a half-point, already today we've got more people on the street suggesting maybe they are even more aggressive at their next meeting. kriti: when i think 1991, i think the gulf war. canada isn't alone in that.

i'm ritika gupta. who police identified as a person of interest in the new york city subway's shooting is now a suspect. frank james is a at large. >> based on the briefing from my law enforcement officials and based on the evidence that we were able to accumulate, he has now been upgraded to a suspect. we are asking all new yorkers to assist us in his apprehension. please do not approach him. if you see him or if you know about his whereabouts, please notify law enforcement. ritika: the attack in brooklyn left at least 23 people injured, 10 of them shot. the biden administration is preparing an aid package worth $750 million for ukraine. the president is allowed to transfer you quit -- transfer equipment from u.s. stockpiles without congressional approval in order to speed up delivery. the u.s. has provided more than $2.4 billion for military assistance to ukraine since president bynum took office. in u.k. inflation jumped to a 30-year high. sumer prices rose in march micron annual rate of 7%. higher

i'm ritika gupta.his is bloomberg. ♪ this is bloomberg. ♪ >> the situation in mariupol is dire militarily and -- after bucha, it became difficult as continue talking with the russians, but as my president mentioned, mariupol may be the redline. jonathan: feature shaping up, negative on the s&p, on the nasdaq last week, negative about 2%. down another one -- down another -1.5% at the moment. the dollar stronger against the euro and the yen as well. later this hour, 20 or 30 minutes from now, bank of america with earnings out. tom: they have a nuanced, maybe not as nuanced as usual, but it will be interesting to see off banking. i was -- would suggest brian moynihan is the one who gets out on cost cutting chat more than anyone, and maybe that is what is on the conference call. jonathan: that is where your focus is on. get the wages up -- tom: while you were gone, hsbc was moving forward, pulling out of asia. now they are pulling back into asia and saying they have to build out wealth management in asia.

i am ritika gupta.loomberg. ♪ ♪ >> the month of march is where we will see and have seen the impact of president putin invasion of ukraine on energy prices and other commodities. we've seen what's happened to gas prices in the united states and that will be reflected in likely a big divergence between the headline and core. tom: director of the u.s. national economic council for the president and managing the inflation message out of the white house. right now, the news flow is extraordinary. we are losing the video on mr. macron. mr. macron and madame le pen get out and campaign. he is stuck in a crowd and some of these people are really giving it to the president of france. lisa: he is campaigning as the latest opinion runoff poll just came out showing he led 54% to 46%, a big jerk -- bigger margin than most people thought. tom: we don't have the sound to translate the french and we don't have the sound for kailey leinz. dealing with ukraine and the financial challenges of russia, seven-day paper, the

i'm ritika gupta.ot of are zelenskyy ill address that you zelenskyy will address the u.n. sick -- volodymyr zelenskyy will address the un security council today. he said the death toll may be even higher. bloomberg has learned the pentagon will be sending ukraine new switchblade drones under tank busting warheads, in addition to less powerful versions of the unmanned aircraft. the weapons are part of a $300 million package of military assistance announced last week by the defense department. twitter's largest shareholder says he will be a passive investor, but in the hours after elon musk announced he had taken a 9.2% stake in the company, some were skeptical. ark investment management founder cathie wood said it may lead to another management change. >> i will say this could be setting up for another leadership change at twitter. you never know. but i am not jumping to this conclusion automatically. i am saying it is one of many possibilities. it will either be changing the policy of the company to re

. ♪ ritika: keeping you up to date, i am ritika gupta.sident biden will allow expanded sales of higher ethanol gasoline to lower fuel prices and will make the announcement today during a visit at to an ethanol mill in iowa. ethanol is commonly made from corn. the white house suggests it could save $.10 a gallon. ukraine expects russia to wind in its invasion in the eastern part of the country and predicted a "more projected -- protracted and bloodier war." and shanghai, the u.s. has ordered all nonemergency staff at the consulate to leave china, leading to a rebuke by ukraine -- still some restrictions have been eased and residents report great access to flights. sri lanka is taking an extraordinary set to save dwindling dollars for essential fuel and food imports. mark creditors will possibly default -- more creditors will possibly default. small business in the u.s. has fallen for a third month to almost a two-year low, according to the national federation of independent business. the biggest operations challenge is that 2% of businesse

i'm ritika gupta. biden administration hopes to spur development of electric cars with new fuel economy rules, but the regulation still leaves space for gas guzzlers. our makers can claim a credit for each ev in their lineup. that could allow them to meet fuel mandates even if the rest of their lineup is credited with fueled vehicles. reached one of the most comprehensive work from home deals among major banks. more than 132 thousand employees of the french lender have an option of doing their jobs at home for more than half the week. banks have been adopting flexible arrangements to boost morale and save money. on the other hand, bank of america plans to bring all of its u.s. employees back to the office by june 1. that includes even those who have not been vaccinated against the coronavirus. the employees will still have flexibility to work from home, but are being strongly encouraged to collaborate with colleagues in person. that is your latest business flash. kailey: thank you. in shanghai official

i'm ritika gupta. this is bloomberg. ♪ >> probably we are going beyond neutral.hat is my expectation when i see they are taking out special factors. i'm still left with 3, 3 .5% inflation. if we have 2.5 percent inflation, there is more to ponder. jonathan: that was charles evans. from new york city this morning, the equity market is shaping up as follows. the s&p 500 up .1%. the nasdaq down almost .1%. netflix is down only 7% after a wildness yesterday, projecting even more pain for the quarter. may 11, that is how long you have to wait until walt disney. a few weeks away. tom: i am focused on the mourner discovery pat, what they do with whatever the debt number is. i take the point on disney and the rest of them, but wow, mourner-discovery, the merger of 47 networks. jonathan: cnn plus, you have to wonder what will happen with that. tom: and animal planet. i have like seven things i am doing. jonathan: have football on paramount, hulu for formula one. it is getting messy. tom: december 1, 2022, you'll remember this conversation. 100 pages that jamie dimon will

i'm ritika gupta. this is bloomberg. we have a few breaking headlines crossing the terminal. andrew bailey is speaking at an imf panel and he says inflation in the u.k. will go higher due to energy but the strength of inflation this year depends on energy. energy is not just an issue for the u.k., one for germany as well. if you saw an embargo on gas from russia in germany, that will lead to a 2% contraction in germany. the german government is set to cut its 2022 growth forecast 2.2%, down from 3.6%. that is without the embargo in place. anna: here's about the german growth story if we see a change in the energy policy this week, fears about the u.s. economy also. let's stick with the global economy and the vulnerability of some emerging markets. a warning from the imf. that is just one of the issues at this week's imf world bank meeting in washington. joining us now is nadia calvino, who has the imf international committee. we look forward to speaking with you on the international front and on the european front. if we

i'm ritika gupta. this is bloomberg. this is bloomberg. >> everything changed when russia invaded ukraine. that caused a need for finland to have a discussion about our own security choices. also discussion about nato membership that we are having right now. we are giving today to the parliament the paper that will analyze different options for finland. tom: extraordinary comments from the prime minister of finland. we heard from sweden before that as well. scandinavia and finland giving serious study to leaving neutrality and joining nato and the european union in different forms. we have done everything we can to speak to experts and to people who have lived so much of continental europe and this new war. it's our honor to speak to nina khrushcheva, professor of international affairs with the new school. we don't have time to go into the story of your family coming out of the death of i believe your grandfather in world war ii, but we can speak to you about your academic work at princeton, the mind o

i am ritika gupta.his is bloomberg. ♪ >> the array of disruptions from china's lockdowns, from the impact it to be fully felt of the russia ukraine war on food crisis, on global supply chains. jonathan: the wonderful braylen carmen reinhart there. the china gdp outlook from 4.8% 4.2% this year. the base case. can you imagine a three handle potentially in china this year? tom: can we do a victory lap? not for jon ferro. for carmen reinhart. reinhart and her wonderful husband vincent reinhart, an essay that came out and made a splash and a lot of people said come on, the pandemic depression, the global economy will never be the same. they are like a piÑata on that. they took a lot of heat for that not gloom but caution of gauging where we would be back then two years from now. she looks like a genius now. jonathan: russia included. tom: right now joe mathieu. as you know, there can be one sentence in the morning research where you just stop. four days before thanksgiving after the election, the president

i'm ritika gupta. this is bloomberg. ♪ >> welcome to bloomberg markets. >> bank of america joins its peers in capitalizing on market volatility. twitter shares are on the move after the social media company launched a defense strategy against elon musk's proposed takeover. as we mentioned, the mask mandate for planes and trains has been overturned by a florida judge. more on that story in a few minutes. jon: let's do a quick check of what has been happening in markets. we are looking at cautious of buying on the snp but a lot of that has to do with what is happening in the energy market. we see the uncertainty in libya continuing to fuel oil. we have continued concern around big tech and the challenges in that sector. the volatility with bank of america did pay off in the latest quarter results come over $4.5 billion in trading related revenue including a record number coming out of the equities division. that was a bright spot. we are watching the consumer a story, brian moynihan indicating there are

i'm ritika gupta. this is bloomberg.g. >> if you are thinking about a target of 2% and your question is how long it will take to come down to the 2% target number, we are looking at the war end of next year. it will take many months before we see inflation coming down. tom: the first deputy managing director of the international monetary fund. a piercing interview making global headlines in the last hour or so. really strident comments on a reset of global growth. we will know more a lot in the world economic outlook. the blue book will be coming out. i remember a decade ago when it was joined by the green book. lisa: maybe the beige book can hang out over there. tom: a running joke at surveillance. i want to make clear right now, with the data checks today, not much going on, but we did see some movement off the european central bank headlines and the christine lagarde comments. we will have a conversation with john williams with the new york that with michael mckee. the 10-year yield, 2.66 speaks of these unusual times

bloomberg's ritika gupta is tracking the moves. best start to the trading week, but at least we are off the lows. ritika: we do resume the selloff we had in u.s. equities that we had on friday, but this is a global story, is it a good look at the msci world index. this as the china sentiment is feeding through the story. will it weigh on the demand for commodities? you see oil trading below $100 a barrel, investors flocking to havens, so that treasury yield down from 11 basis points. let's stick on that demand story because it is affecting the commodities in a big way. you're seeing iron ore, aluminum down to the tune of 4.25% now. unsurprisingly, when you see some of those risky assets trading lower, bitcoin moving in tandem. let's look up the board and go back to the nasdaq because this is actually heading for its worst month going back to 2008. that is the height of the lehman brothers collapse. those lower yields today not helping it out. in this month, you only have about 18 of the stocks within the nasdaq that are moving highe

but first, look at the market with ritika gupta. ritika: not a great start to the week for u.s.quities. s&p 500 down 1.7%. nasdaq 100 underperforming, down 2.3%. a big part of this has to do with yields surging, both nominal yields and real yields. inflation becoming increasingly less negative. we are looking at the 10 year really yield. the question really is when the yield does turn positive, what is that going to do to the stock picture. let's drill into some individual movers. it is not all doom and gloom in the tech space. twitter, what a volatile ride in the last 24 hours. initially slumping on the news that elon musk will not be joining the board after all, but reversing course and shares ending the session higher on the idea that he will increase his activist stake, pushing for bigger changes. i'm looking at the cybersecurity firm that is surging, going to be acquired by a private equity firm. this will value the company at 6.9 billion dollars. a lot of interest in cybersecurity with work from home options and the russia-ukraine war. nvidia pushing some of the chipmakers

i am ritika gupta. this is bloomberg.stria says the meeting between its chancellor and b are prudent as an opportunity to send -- its chancellor and vladimir putin is an opportunity to send a clear clinical message. joining us is the bullish ambassador to united states, marek magierowski. austria has decided talking to vladimir putin is a good idea. what is poland's position? what is the opportunity that can be gained by talking to the russian leadership? amb. magierowski: it is not my role to comment on the russian chancellor's position. i can only quote many polish politicians who have expressed reservations about negotiating with vladimir putin. i cannot see any diplomatic solution to this war on the horizon. we should expect a military solution, mainly crushing the russian army in ukraine. i keep my fingers crossed for the russian chancellor -- for the austrian chancellor to gain any advantage from contact with the russians. kriti: you mentioned military support. i am curious about the defense part of this equation. p