i'm ritika gupta. this is bloomberg. i'm ritika gupta.is bloomberg. >> i am not a betting man. yes, they can engineer a soft landing, a third of a percent chance. you could enter into a milder recession. then there is a chance it could be harder than that. tom: jamie dimon talking about the larger picture of the american economy. we will stagger to the fed meeting this afternoon. i love what peter said about it, historic but uneventful. maybe. lisa: there could be some surprises. tom: we are doing this as we introduce barbara corcoran, who we like to talk to once or twice a year. she is a dynamo of the five boroughs. i don't want to make a joke about this. people magazine doesn't absolutely killer issue every year on women across all of entertainment, across all of enterprise and capitalism. barbara, they have selected you as a beautiful person. we were talking about adele earlier in the show, i don't want you to sing like adele, but we can talk about your wheelhouse, real estate. we have never seen rent and housing in the city the disast

i'm ritika gupta. this is bloomberg. itika gupta. bloomberg. >> the fat is going to have to raise rates and reverse qe. they will try to slow down the economy enough so that 8% comes down over time. give them a chance and i think the sooner they move the better. jonathan: deep breath and give them a chance, the words from jamie dimon. good morning. here is the price action in the equity market. up .4% on the nasdaq. yields come in a couple of basis points, 2.9519. is that what chairman powell will say to mike mckee later on, deep breaths, give us a chance? tom: what is interesting, see where the dissent is today as well. to what we heard from greg staples, the hawkish twist of 75 basis points. you really think that we will see outright dissent? jonathan: more likely down the road than today. you never know. i think there is agreement on moving 50 today. all the fed speak, seems to be decent consensus on making that move. we also know where the division is. how far you go want to get to 2%. you know where jim bullard wants it, closer

i am ritika gupta.he federal reserve thought aggressively raising rates would leave them with more flexibility if needed. fed officials agreed they needed to raise rates. the massacre at a texas school has invited discussion to red flag laws as a compromise between the democrats and republicans. those laws allow police are family members to allow a court to temporarily remove firearms or keep them from being purchased by someone considered a danger. and the u.k., prime minister boris johnson's government will lay out a plan to help those struggling in britain with the cost of living. a comprehensive response. it will be partly funded by windfall tax from the profits of oil and gas companies. norway has been on top of the covid resilience ranking for a third month. a 91% vaccination rate in adults have helped the norwegians' fatality rate low. the u.k. is in 40th place while the u.s. is in 31st. russia finished in last. a conservative stance when it comes to building iphones. assembling roughly 220 milli

ritika gupta -- ritika: keeping you up-to-date with news from around the world, i am ritika gupta. jerome powell says the fed will keep raising interest rates until there is "clear and convincing evidence inflation is in retreat." powell told a wall street journal event the economy is strong enough to withstand anything. inflation in the u.k. has risen to its highest level in 40 years. consumer prices rose 9%. a big chunk of the increase came from a rise in energy prices. all of that will add to more pressure from the government and the bank of england. finland and sweden have made it official and applied for membership in nato, move that reshapes europe's defenses. the two must overcome opposition from turkey's president, who alleges both countries support kurdish militants. madison cawthorn lost his bid for a second term despite backing from former president trump. north carolina state senator chuck edwards beat him in the republican primary. nearly every republican leader in the state opposed madison cawthorn. the board of twitter says it will recommend shareholders approve must

i'm ritika gupta.his is bloomberg. ♪ >> over the last 20 years you notice already pretty aggressive moves. i don't think we need to be moving even more aggressively. i think we can stay at this pace and this cadence and see how the markets evolve. jonathan: going to see mark mckee catch up with raphael bostic. futures bouncing back a little bit, up .8% on the s&p. on the nasdaq we advance by .13%. intraday yesterday through 320, then looking to break through the downside. looking forward. lisa went through this earlier. williams of the new york fed speaking at 7:40 eastern. we will hear from bostick, tk, there is a lot lined up. who blinks first? tom: this is not a small idea. this is not a small idea to discuss this morning. there is an assumption this cuts both ways. they let it run into some real damage, or as you say, how do they message this? i don't have a good answer, but the radar is up. i think it is going to come from the chairman, or maybe even from secretary yellen with her experience. jona

i'm ritika gupta.his is bloomberg. ♪ >> the fed is still trying to bring down, slow the economy, slow employment, and bring down open positions because they are still worried about inflation being too high, and it will be well above target for the foreseeable future. jonathan: jan hatzius of goldman sachs on the path forward. good morning. equity futures positive 1.5% on the nasdaq 100. two names to talk about, home depot and walmart. transactions at home depot just a little bit softer. the average ticket higher. that stock up by 3%. walmart down by 6%. this issue about moving away from general merchandise, focusing on groceries, lower profit margins versus higher profit margins, this is what companies like walmart right now are dealing with as this cost-of-living issue gets that much bigger. tom: we see it with retail sales across america and the huge body of america, the millions of labor at walmart. dana peterson is going to be with us after the retail sales numbers, but we are thrilled to bring you

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i'm ritika gupta. this is bloomberg. ♪ >> the first thing that is on my mind is that inflation is too high, and we need to act definitively and purposely to try to get that under control. i think if you look at what we have done so far in the last two meetings, we have really started that process. jonathan: that was raphael bostic, the atlanta fed president, sitting down with bloomberg's mike mckee. . we will hear from bargain, waller, kashkari today. the s&p advancing 0.9%, the nasdaq up to 1.6% -- up 1.6%. julian emmanuel writes in, friend of the show. the 10 year yield backing off 20 basis points in the last 24 hours. thank you, julian. tom: it is a to mulch was time, to say the least -- it is a to mull to us -- a to mulch was -- a tumultuous time, to say the least. joining us is cecilia rouse, chair of the u.s. council of economic advisors. did you have the feldstein version? cecilia: i'm dating myself, i had the auto x -- the auto eckstein. tom: otto eckstein would say parse the data. what part of

i'm ritika gupta.his is bloomberg. ♪ >> you heard my president several times. he said we should have these negotiations. my president is ready for these negotiations. unfortunately we do not expect president putin to be a part of these. jonathan: always great to hear maria tadeo catch up with ihor. futures positive .6%. we fade a little bit here. still positive on the nasdaq, up 1.4%. peloton, down 16.8% and just saying all the wrong things right now. a miss on earnings, a miss on revenue to be specific. a miss on the guidance as well. going forward they say inventory is eating up cash. it is leaving the company thinly-capitalized. tom: it is really struggling. we are going to get more stories like this where plans blow up and law up in different ways. can we say that peloton is old news right now? it is not that we did not know the specifics here. jonathan: there is nothing new about this, but i think it is interesting. you have a company seeing great demand, so they build up inventory, and here we ar

i'm ritika gupta. this is bloomberg. ♪ >> at some point there also has to be a renewed effort at the negotiating table to try to achieve a negotiated resolution to this. again, it is not impossible that this could continue for a very long time if in fact there is not a negotiated resolution. so i think we need to keep that in mind here as well. jonathan: general david per petraeus -- general david petraeus, the former cia director. futures just about unchanged on the s&p, and on the nasdaq 100, positive 0.1 percent. yields lower by a couple of basis points, 2.95 75%, after having a look at 3% in the last day or so. tom: i want to bring up a banner on this story unfolding across america from the political article -- the politico article on roe v. wade. 80 riffing group of legal scholars, we mentioned noah feldman earlier come about on "bloomberg surveillance," who want to give you a first look at stephen carter of io university, who does not talk about roe v. wade. he does not talk about left and right.

i'm ritika gupta.his is bloomberg. ♪ how will your business adapt to change? you could hire an office full of peyton mannings. what's up, peyton? good morning, peyton. hold for peyton. they'd huddle.... welcome to the peytonverse. such a visionary. game plan... you go. no, you go! and call audibles... double our investment in omaha! omaha! omaha! omaha! or you could use workday. omaha. the finance, hr and planning system used by over half of the fortune 500. for a be-agile-like-an-mvp world. workday. for a changing world. >> the result of a monetary inflation is high nominal gdp growth, and then that gets absorbed by prices, so you get low real growth, and that produces stagflation. we are on the cusp of it. how do you define stagflation? there are different ways, but basically, the way we look at stagflation is in terms of how it affects markets. tom: the economics of bob prince of bridgewater associates come original with rebecca patterson and others. some really interesting talk there about nominal

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i'm ritika gupta. this is bloomberg. ♪ at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect. >> are big issue is how little tightening is priced for next year. 30, 40 basis, that is a joke. you think about the biggest inflation worry in the last 40 years, and how can the fed or other central banks really think they can get it under control in 12 months? i think that is incredibly implausible. so we expect a lot more tightening to be priced in for 2023. jonathan: there's consists us -- there's consensus about 2022. it is 2023 where things start to break down. futures down about 0.3%. on the s&p 500, down 0.2%. from new york this morning, good morning. this is "bloomberg surveillance ." yields essentially unchanged on the 10 year. yields up by almost a basis point. crude down by 1%, just short of $110 on wti. tom: long ago and far away, o

i am ritika gupta.his is bloomberg. ♪ at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect. >> am the world of politics to the world of business, balance of power with david westin, analysis, insight, from players, weekdays. this is bloomberg. >> 109 is where i'm getting my fair value for the euro but i think, given the trade lapsing in the main train partner, china, under pressure, hero supremacy is still possible in the months ahead. tom: jordan rochester there with a good conversation. we are having wonderful discussions and no surprise, in london, on foreign exchange. lisa abramowicz and tom keene, jonathan ferro scheduled to return a number of days, laid, something about jet fuel. we look forward to seeing, i believe we all get together again tuesday in new york. the homework of what we invented at "bloomberg sur

it will go to the jewel of new york, ritika gupta -- kriti g upta.work for mark cudmore. we will talk about a gallon of gas. when looking at is the amount of work in minutes at a u.s. federal minimum wage it takes to pay for a gallon of gas. 40 minutes. you have to work for 40 minutes to get one gallon of gas. what you need to know here is the line just goes upwards and upwards. you have not seen that kind of acceleration since 2008. tom: help me. this is the single best chart kriti has ever done. you're comparing for people who spend a lot of money on food and a lot of money on hydrocarbons. kriti: this is important talking about the lower income part of the community, those hit hardest by inflation. here the theme. if you're a wealthy consumer, you are insulated to some extent from the inflationary pressures. on the other side of the spectrum you are not. think about the people who have to go get groceries and fill up the tank and now it is getting harder. tom: we moved to will kennedy, executive editor for energy and commodities. christian malek c

i'm ritika gupta.his is bloomberg. ♪ >> including government and it appears there will be more than 18,018,000,000 -- more than 18 million. jonathan: equities heading higher for now, futures up 1%. on the nasdaq, positive 1.5%. equities down for a seventh straight week. you have to go back to 2001 for a weekly losing streak as along as this one right now. yields higher by a couple of basis points on a 10 year here the dollar has been week. euro-dollar pushing 1.06. tom: what are your thoughts on dollar? jonathan: starting to see some weakness creep in. thoughts more broadly, we talked about this with jane fully of rabobank. a central bank rate hike, currency positive or negative, which one is it if you think europe has gone into a recession? a difficult call. tom: with the finance meeting and the ecb upon us right now it will be difficult. joining us is annmarie hordern. also maria tadeo. i know channeling all the way over to seoul korea and looking for permission to dance, no question about it, what i

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i'm ritika gupta, this is bloomberg. guy?ck to davos. >> spreading across 50 -- haslinda: spreading across 50 countries and counting, the coo joins us now. stunning performance, 20% growth, but is that growth sustainable given the challenging environment are in right now? >> first, brilliant to see you and be with bloomberg again. we see growth guidance for us at 13% to 15%, very strong growth to start the year. what we see today is the pipeline is in good shape and the work we are doing for our clients is focused on this digital transformation and automation. two themes very close to what clients are looking for. automation to reduce the spin they have on the tech landscape to propel them with a customer, with all their suppliers and partners. guidance is solid. haslinda: how much clarity do you have? from the speakers here we hear that a slowdown is coming. even if we don't see a recession there is a slowdown coming. why look at the numbers again? salil: we see a combination around what's in the pipeline, what we had done i

i'm ritika gupta. this is bloomberg. ♪ >> due to inflation and to covid developments, particularly in china, these developments have exacerbated greatly the challenges already faced in the u.k. and many other economies from a series of adverse supply shocks we continue to face. monetary policy therefore must navigate a narrow path between the increased risk from elevated inflation and a tight labor market on one hand and a further hit to activity from reduction in real incomes on the other. jonathan: that is the tough spot this bank of england governor is in right now. that was andrew bailey a moment ago saying that no one advocated for a 75 basis point increase. let's be clear, that is not having quite the same effect that chairman powell had saying the same thing just yesterday. equity futures this morning negative zero point 5% on the s&p. a monster move higher yesterday on this 500, the biggest one-day rally going back to 2020, up almost 3%. yields coming in just a little bit, not even a basis poin

i'm ritika gupta. this is bloomberg. ♪ >> is put in continue -- if putin continues his heinous war of choice, the biden administration will work with you and our other partners to push russia further towards economic, financial, and strategic isolation. eventually ukraine will need massive support and private investment for reconstruction and recovery. jonathan: that was janet yellen speaking at the brussels economic forum a little earlier today. from new york city this morning, good morning. futures positive on the s&p and the nasdaq as well. the nasdaq 100 up by more than 1.2%. yields higher by three basis points, 2.9113%. home depot with a beat and a raise for the full year outlook. there guidance higher. the stock is, too.speaking to the inflationary moment we are income, customer transactions fell in the quarter. the average ticket price increased. tom: there's the inflation there, and it is all going to be reported retail sales is not inflation-adjusted. home depot 22% per year is the performance

i'm ritika gupta.sels, emmanuel macron asked what was the point of the because they vladimir putin. >> we have to keep them guessing , where russia and ukraine stands in order to prepare. this is the day they resumed their positions. it's important and it is our duty as europeans. we will have to negotiate with ukrainians and russians, they will subside on the day of a real cease fire and i do endorse this with vladimir putin on a regular basis. it's a very demanding approach. guy: -- ritika: he says an agreement will cut and imports by 92% and inflation in the euro zone of tolerating to an all-time high this month with consumer prices rising from over a year ago. food and energy with the big reasons. data intensified the debate about how fast to raise interest rates. in the u.k. business confidence rose for the first time in three months in may as they set barometer included 5% where 37% of those polled planned to raise prices again. global news 24 hours per day on air and on bloomberg quicktake, glob

. -- ritika gupta.his is bloomberg. ♪ what if you were a global bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> there is no doubt we face serious global challenges right now. inflation first and foremost among them. but there's also no doubt that the united states is in a better position than any other major country around the world to address inflation without giving up all the economic gains that we've had and that's because of the strength of our recovery. tom: national economic council director on the themes of the moment. we welcome all of you on radio and television. lisa abramowicz and myself. jon ferro is on assignment. right

i'm ritika gupta. this is bloomberg. ♪ >> what a lot of economists are scratching their heads and wondering about is if we really have to bring demand down to get inflation in check, is not going to put the economy into recession. and we don't know. jonathan: neel kashkari, they do not know. futures down .7% on the s&p. the nasdaq down by one full percentage point right now. yesterday it was walmart, today its target. target is down hard. end of 21 point 5%. we have seen it repeatedly over the last hour. margins, we have a problem. tom: drew medicine coming on with a nice quick note. he says the distinction is these are largest employers. as i mentioned -- this is a guy who is congenitally optimistic. drew medicine makes real clear large employers with these kind of pressures is a unique unique moment. jonathan: we are in at around 3.5% unemployment in america. 50 is the estimate from the fed and 350 is the estimate for next year from the fed as well. can they maintain that? do you remember when those

by ritika gupta. this is bloomberg. ♪ at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect. how will your business adapt to change? designed to help you keep more of what you earn. you could hire an office full of peyton mannings. what's up, peyton? good morning, peyton. hold for peyton. they'd huddle.... welcome to the peytonverse. such a visionary. game plan... you go. no, you go! and call audibles... double our investment in omaha! omaha! omaha! omaha! or you could use workday. omaha. the finance, hr and planning system used by over half of the fortune 500. for a be-agile-like-an-mvp world. workday. for a changing world. >> in your view, is a recession in the united states inevitable? pres. biden: no. >> why not? pres. biden: our gdp is going to grow faster than china's for the first time in 40 years. does that m

i'm ritika gupta.s is bloomberg. ♪ >> government bonds probably feel less volatile from here, but it is still quite a challenging environment. i think we've probably got another two quarters at least of volatility as we see the economic backdrop gradually ease a little bit, and we will be looking towards the fourth quarter maybe to see a little more clarity. tom: anne richards of fidelity international, one of my favorite people at davos. someone who really has a grasp of the dynamics of global wall street. i think of loretta mester at the cleveland said. math wins, and anne richards is the best in global wall street at mathematics. he knows the math of macy's. what is the difference between macy's doing well and target when less than well? >> good morning from halfway around the earth. great question, tom. i think this is really important be buried -- this is really important. i think something a little bit different is happening. i think we are reverting to the mean. i think you're seeing a lot of th

i am ritika gupta. in baster's are waiting -- investors are waiting on today's report. cpi is expected to show inflation fell to 8.1%. the cpi comes out at 8:30. the u.s. house is approved of $40 billion emergency spending bill for ukraine. the measure pays for new weapons and provides economic and humanitarian assistance and is significantly larger than the $33 billion president biden asked for. the bill heads to the senate where approval is likely next week. economist lisa cook will be the first black woman on the federal reserve board of governors. she one confirmation by the narrowest possible margin. the 51 to 50 vote required a tie-breaking appearance by vice president kamala harris. republicans questioned her qualifications. researchers in shanghai say the country faces a tsunami of proto-virus infections if the government reverses its covid zero policy. the vaccination campaign would be insufficient to prevent an omicron wave that would swamp hospitals. global news 24 hours a day, on air and on

i'm ritika gupta.has proposed a revision to the russian oil band to give countries more time. the czech republic would get an exemption until june of 2024. all other eu members would phase out russian imports by the end of this year. the united nation says global food prices hover toward an all-time high. the country has been one of the world's largest shippers of wheat and vegetable in russia. the u.s. labor market keeps expanding and wage growth moderated. a surprise drop in the participation rate says the market will remain tight. the economy added a better-than-expected 428,000 jobs. global news 24 hours a day, online and at quicktake on bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm ritika gupta. this is bloomberg. guy: let's talk about what is happening in industry we have talked and themes keep coming up and what is happening in the labor market and with china. all of these seem to be reasonably consistent and everybody is struggling with it. some of the

. ♪ ritika: i'm ritika gupta. coming up, scott minerd joining bloomberg television at 2:00 p.m. this is bloomberg. ritika: keeping you up-to-date, here is the first word. the european union is proposing to ban russian crude oil over the next six months. ursula von der leyen also says that refined russian fuels would be banned by the end of the year. hungary and slovakia will not have to enforce the band -- the ban until the end of 2023. both were opposed to a quick cut off. last month's arrest of bill quan for the collapse of rk go cap at management may just be the start. u.s. investigations into questionable trading practices are on the rise. those probes at center on the same question -- are the markets rigged? administration officials plan to pursue a collar crime more aggressively. you can read more on today's bloomberg take available on the bloomberg terminal and bloomberg.com. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm ritika gupta. this is bloomberg. guy? guy: thank you ve

. ♪ ritika: keeping up-to-date with news from around the world, i'm ritika gupta.ed the idea that the euro area is heading for a recession. lagarde spoke to bloomberg in an exclusive interview at davos. >> we have the various alternatives there on the basis of hypotheticals such as oil, interruption of gas supplies. that clearly would have a significant impact on the economy. for the moment we are not seeing a recession in the euro area. ritika: lagarde spoke a day after laying out her next steps. they are likely to exit negative interest rates by the end of the third quarter. like sing of all he has lost his appeal against a nine year prison sentence. he will be transferred to a prism that supporters say is aimed at isolating vladimir putin's top critic. navalny was convicted in march of a fraud and contempt of court. american households are about to get some unwelcome mail. some of the highest power bills they have seen. residential electricity rates are poised to climb higher this summer. it is a combination of higher -- tighter supplies of gas and coal, and a f

i am ritika gupta. this is bloomberg. ♪ >> i worry the federal reserve is trying to be too nice to markets, be it the transitory inflation narrative that has lasted too long. see what happened on wednesday. you cannot go on tv and speak about all of the uncertainties and then rule out a certain policy response. jonathan: what a call from mohamed el-erian. good morning. live on tv and radio, lower again on the s&p i 1.6%. on the nasdaq down almost 2%. yields higher seven basis points. in the fx market, dollar strength all over the place. the dollar index the strongest back to 2002. if you're a big oil importer facing higher crude prices, you have a problem. india has little but of a problem. tom: this has been widely anticipated. this is a country with all sorts of unique challenges. then there is the unexpected. the unexpected is last month the temperature averaged 104 degrees. i cannot do the centigrade translation but that is unimaginable even in tucson, arizona. they are in the midst of a drought. ov

. ♪ keeping you up to date with news from around the world, i'm ritika gupta. to first word news. why the economy is under pressure to shrink from double-digit inflation. the other three wanted a half-point rate hike. the coronavirus. tall probably climbed to almost 15 million people in its first two years. in other words, one out of every 500 people worldwide. that is according to the world health organization. the new estimate is more than twice the figures that governments report. opec and its allies once again agreed on a small monthly increase in production. it comes at a time when markets are likely to get tighter because of the eu ban on importing russian oil. 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: i want to go back to that opec story in a moment. let's talk about what is happening in other assets right now. and nasdaq is falling like a brick, down 4% now and continuing to fall. the two day chart doesn't look q

i'm ritika gupta. this is bloomberg. ♪ >> over the next year, i am not that worried.m always have 15% for a recession. maybe i am at 20% now for the next year, but not much higher. when you look after this year, that is when i get more worried. that is when more of rate hikes start to kick in and affect the economy. tom: we welcome all of you to our windy performance here at the world economic forum. the wind is going this way right now, lisa. here's the wind coming off the mountains. we are making it up as we go, as are all at the world economic forum. very sober about how this is different. it is a mixture of international relations and of course, these markets challenged, ukraine, and we have barely touched on the food crisis today. lisa: particularly for nations that are reliant on ukraine, particularly for nations running out of supplies. how do you deal with that at a time when a lot of the developed world is dealing with their own crises? this is really a reluctance to spend. tom: what we are going to do now is drive forward the conversation. we've been to lati

i am ritika gupta.loomberg. ♪ ♪ the lower your drag coefficient, the more efficient you become. such amazingly perfect shapes run throughout the natural world. and can now be found in the automotive one. the world's most aerodynamic production vehicle. the eqs sedan. ♪ changes in the data in the coming weeks, i expect two additional 50 basis point rate hikes in june and july. jonathan: nothing has changed for patrick harker, the philadelphia fed president. live from new york city, equity futures shaping up as follows. small pain ahead, equity futures down more than 1% on the s&p, 1.2 on the nasdaq. we are off session lows and i have no idea if we will be in the same place in about five minutes. yields lower six basis points. yields lower, treasuries firmer and the fx marker is a whole lot -- market is a whole lot weaker. tom: a better tape right now. -338 off of -400, i will call it an easing in the last 20 minutes. jonathan: it is hard to read into it. how many times have we been caught offside? tom: w

i am ritika gupta. this is bloomberg. ♪ ♪♪ this... is the planning effect.s to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking at your full financial picture. making sure you have the right balance of risk and reward. and helping you plan for future generations. this is "the planning effect" from fidelity. >> what we're seeing is a rotation from growth stocks, earnings far in the future, toward stocks much more value stocks and the present, and this reflect real rates for the first time in a long time are likely to go positive in 2023. lisa: a great conversation with ken griffin of citadel there alongside francine lacqua. good morning to you. futures are positive a little more than 1% on the s&p. yields traveling north heading up higher by three basis points. the euro is just a little negative, backing away from 1.06. tom: it will be interesting to see. what you thing about ken griffin's comments? i know you were studying that carefully. jonathan f.: he has someth

i'm ritika gupta.ohnson says he will ramp up pressure on putin's cronies by driving dirty money out of the country. he set out an agenda that is also heavy on priorities including cutting waiting lists at hospitals and boosting disadvantaged regions. he stated all of this at parliament, standing in further queen. an escalation of violence in sri lanka, the army has been told issue at those who are threatening lives. this after the ruling party politicians protested about the feeling economy and demanded the resignation of the president. an saudi arabia andd uae say that capacity is decreasing for energy. >> the lack of investment is catching up with many countries. besides fuel, they -- the capacity is not there and they lost the production they used to have two years ago. ritika: blaming high prices on the pump that taxes in countries have imposed. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm ritika gup

i'm ridiculed -- i'm riddick a this is bloomberg -- i'm ritika gupta.is bloomberg. ♪ >> after two months of work, i can say that germany is not against an oil ban on russia. of course it is a heavy load to bear, but we are ready to do it. jonathan: the german economy minister. futures -0.2% on the s&p. the nasdaq 100 down 0.25 percent. yields come down a couple of basis points on the two-year. i got to say, to hear the german economy minister talk about a heavy load to bear, we've had to compare and contrast between what greece went through in the euro zone debt crisis. i'm not sure you can compare banning russian crude as a heavy load to bear given what some of the southern european countries have been through over the last 10 plus years. tom: you are more wired into this, but is it clumsy? jonathan: it is more than clumsy. it is totally out of touch. i'm surprised that the greeks and the italians, the spanish, the portuguese, the irish haven't pushed back in a bigger way against some of this. i know we got to keep unity in a moment like this one, but

i'm ritika gupta.he united nations says global food prices continue to hover near an all-time high. the krupp trait has been disrupted by the war in ukraine. the country has been one of the world's largest shippers of wheat and vegetable oil. high prices and drought have added to the problem. the u.s. is morning russian billionaires there is no hiding place for their yachts. this after they seized a super yacht in the u.s. the u.s. worked with officials in fiji to seize the vessel. in the u.k., prime minister boris johnson's local elections lot control and three london strongholds. but he seemed to have eluded the sort of disaster that may have triggered another attempt by members of his party to replace him. 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 u.s. being this strongest house in the neighborhood is leading to a lot of dollar strength which is only tigh

i'm ritika gupta.special guest at noon. this is bloomberg. keeping you up to date with news from around the word -- the world, here's first news. i'm ritika gupta. a partial ban on russian oil that's part of a package of sanctions aimed at punishing russia for invading ukraine, banning the purchase of russian oil and petroleum products temporarily allowing eu nations to purchase on the pipeline. inflation in the euro zone has accelerated to an all-time high this month with consumer prices rising more than expected, eight point 1% from a year ago. food and energy was the big reason. the debate at the european central bank is about how fast to raise interest rates. the ceo of soros fund management says the u.s. is on track for a recession. >> there's a lot of discussion about a looming recession and the bottom line is that a recession is inevitable, it's a matter of when. when you look at what markets are pricing, they are pricing it fairly soon in the 2023 context pending on your asset classes, i actual

i'm ritika gupta.ess than 24 minutes away from the u.s. jobs report. concerned that it will show that the federal reserve needs to be more aggressive with rate hikes to contain inflation. the report is likely to show the on employment rate dropping to 3.5% while wages rose 5.5% over the last year. the eu had proposed a revision to its russian oil bad to give countries more time to comply. hungary and slovakia would get an extra year until the end of 2024.global news 24 hours a day, until june of that year. all other countries will stop importing by the end of the year. boris johnson appears to have awarded disaster that may have triggered another attempt by members of his party to replace him. china has ordered government agencies and state run companies to get rid of their foreign-made personal computers. it is one of their most aggressive efforts to get rid of overseas technology. the move could mean 50 million foreign pcs being dumped. the company is also being hurt by pandemic related shutdowns in

i'm ritika gupta.s is bloomberg. ♪ >> going back to the 1930's, we have never been able to reduce inflation by more than 2.5% without inducing a recession. so even if we don't get close to the 2% target, it is very likely that we will have some kind of an economic slowdown well before we get to the desired inflation target. jonathan: he wasn't talking about the bank of england. he might as well be. good morning. after a big move higher yesterday of almost 3% on the s&p 500, the nasdaq 100 and by about 0.8%. yields higher by a couple of basis points to get the main event looks a little something like this. sterling very briefly raking -- briefly breaking 1.24 and having a look at 1.23. all the wrong things happening in the u.k. today. tom: it is amazing, you wonder what the value of the pound was in the 1930's. now we are down where we are a dollar in change. 1.2399 on sterling. i digress for a moment and come back to the fed and what we observed yesterday off of the taylor rule and the great separation

will -- i'm ritika gupta. the u.k.led windfall tax on oil and gas companies to pay for a one-time grant of about $120 to more than 8 million low income households. prime minister boris johnson's government is under pressure to help struggling britons. u.s. corporate profits fell the most in more than two years. english and adjusted gdp decreased at a one point 5% annualized rate. corporate profits decreased an annualized 2.3% from the prior quarter, but last year was the most profitable year for american corporations since 1915. in china, premier warned of dire consequences if officials don't move decisively to prevent the economy from getting worse. he told thousands of local officials a contraction in the second quarter must be avoided. his comments were more candid than the official readout published by government media. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. alix: let's stick w

i'm ritika gupta. this is bloomberg. kailey? kailey: thank you.say the least it has been a challenging time for tech names. so far this year the nasdaq is down 20%. we are seeing more losses today. let's take a look at how this is affecting the nasdaq's business. the ceo, adena friedman, joins us now. great to see you. clearly it has been a tough time to be invested in the stock market, each also makes it a tough time to come be in the public markets. what are you seeing in terms of activity and companies' desire to become public in this environment? adena: first of all it is great to be here. thank you very much, kailey. it has been an interesting start to 2022 in terms of the ipo market. get such an amazing market last year in terms of companies coming out into the public markets. we had over 750 ipo's last year. this year we started off much slower. we had 70 in the first quarter. when we look at how the second quarter is evolving, i would say companies are still saying on the sidelines. you have to understand what are the ingredients driving t