goldman sachs.bank of america did very well. goldman is like morgan stanley, but what i'm looking is, hey, how is their investment banking business going to do and how is their trading division going to do is it going to compensate for the asset managers they're trying to grow as well they're highly volatile earnings so it will be interesting to see. i think we're in front of where they're going to restructure, so that's a really interesting question going back to where they were before normally when companies do that, it's more of a defensive move so i like to see how this is all going to sort out. >> any questions in tparticular that you'd like to hear answered by david solomon >> yeah, i think capital markets will be interesting. goldman is in the forefront of that so what is the activity? we've been hearing about public to private is that happening? what are the capital markets doing? rates have really jumped again, goldman is a leader in that area. and the asset management business where are th

it is a goldman sachs do over.porate restructuring as far as letting go of initiatives. tom: this should be above the radar. is this a bank of failure? it is a big deal. jonathan: bank of america numbers could be due any moment now. we are bouncing back. this is bloomberg. >> keeping you up-to-date from -- with news around the world. newly appointed u.k. chancellor set of plans to bring order to reassure markets after liz truss' academic program triggered weeks of economic turmoil. a shortening of a planned universal energy support. >> no government can control markets. but every government can give certainty about the sustainability of public finances. that is one of the many factors that influence how markets behave. for that reason, the prime minister and i are committed. on friday, she listened to concerns about budgets and confirmed. >> meanwhile, hunt will address parliament with more details later. china said to stop selling lng in order to assist -- ensure its own supply for the winter heating season. they

big banks outperformed goldman sachs.achs been a decade or two decade underperformer. >> you are looking at today it trades at less than price-to-book. tom: wells fargo trades at a higher book? stunning. sonali: you are still seeing them trade higher than goldman sachs but does not have half the regulatory overhang. what is it when the market isn't latching on to. you are seeing the market now rewarding goldman for those trading numbers. much stronger than all of its peers so they are not showing strength in a tough market, they are showing market share. >> stick around. lisa: how much does this give david solomon a bit more lifeline to fill out his vision. >> we will catch up with gina martin adams of bloomberg intelligence. goldman up a little bit more than 2%. let's see about q4 and beyond print this is bloomberg. ♪ millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, th

goldman sachs president and ceo john wall drin joins us. we'll talk about deal making and the big reorganization big tech earnings on deck. margin contraction in focus. not stopping a fund manager from going ahead of their results we'll talk to them in just minutes. brian -- >> contessa, thank you very much those are individual names let's talk about the macro markets. they're looking good stocks overall rising for a third day. the dow, s&p and nasdaq, nasdaq up 1.7%. the dow on pace -- i know a lot of people don't watch the dow, but the dow is on pace for its best month since november of 2020 basically two years. here is what else is moving this afternoon. xerox shares falling after the company cut its full-year revenue guidance they blamed inflation. they blame supply chain constraints. by the way, weber is up 30% after its biggest shareholder offered to buy all the outstanding shares this is weber, the grill maker twitter shares moving higher in the past 20 minutes or so. david faber reporting equity investors and musk's deal for twitter

on the other hand today, goldman sachs out. their thick beat by 41%, their investment banking down 57%. morgan stanley, the laggard of the group, if you can call being up by laggard. interestingly, we do have positive data out in the last hour, capacity utilization beating industrial production. factory manufacturing higher. we can see some of these import sectors such as automobiles and aerospace higher on the day. guy: good news/bad news. thank you very much, indeed. big focus on the banks. goldman sachs, it's traders once again helping to rescue the bank's earnings results from a sharp slowdown we are currently saying in investment banking. goldman ceo addressing some of the challenges the last hour. >> global economy continues to face significant headwinds. inflation remains high. central banks are raising interest rates at a pace not seen in decades. meanwhile, equity markets are well off the recent highs, to put it will instability and ongoing energy shocks. gbp growth expectations are declining. guy: show knowledge, trad

and goldman sachs restructuring within that investment bank as well.es at the top of the list with energy and telecom, a safe haven tilt this morning. at the bottom of the list, consumer products, technology lower .7%. nasdaq fell and close lower by more than 3%, the s&p lower 2.5% friday. the university of michigan survey confirming inflation is persistent and the fed will have to do more. let's go to the bank of england, it has confirmed it will terminate emergency bond buying as the new chancellor jeremy hunt is due to make a statement on britain's fiscal plans at 11:00 this morning. for more, we are joined by bloomberg's lizzy burden, breakdown the statement that be a we confirmed they did ramp up bond buying friday. >> this statement is intended to call markets while they have wrapped up bond buying. they are saying various repo facilities are available if needed, the broader message is the bank of england now wants to refocus on fighting inflation but it's there if necessary. this is the message andrew bailey tried to hammer home at the imf over

. >>> with that stock leading financials strung out performers goldm man sachs set to report earnings tomorrow, 7:30 a.m. on "squawk box." >>> overall in the market, 541 or so on the dow s&p up 2. %. nasdaq up 3.25% now a lot of winners in the tech space. sl clearly relief rally, pressure off the yields, what's happening in the uk. strong rally on our hands. coming up, david rosenberg from rosenberg research joins us to break down what he sees the market doing from here with a somewhat negative view we've heard lately on the economy. >>> we'll be right back on "closing bell. don't go anywhere. at humana we believe your healthcare should evolve with you and part of that evolution means choosing the right medicare plan for you. humana can help. with original medicare you are covered for hospital stays and doctor office visits but you'll have to pay a deductible for each. a medicare supplement plan can cover your deductibles and coinsurance but you may pay higher premiums and still not get prescription drug coverage. but with an all-in-one humana medicare advantage plan you could get all

goldman sachs sees fed rates peaking at 5% in march boosting its forecast.futures and treasury yield start the week next. former president lula da silva beats bolsonaro in the brazilian elections seeking -- signaling change raid plus financing the turnaround. credits we set to tap at least 20 banks for a capital increase to help fund another multiyear revamp. we check in now on your markets. the story for credit suisse playing into that. currently the last time i checked the top of the list but we will break that down shortly. broadly across the benchmark the currency down, losses of about 10%. the lack of conviction with a very significant week indeed for these markets with the federal reserve, the expectation. more importantly arguably is the guidance from jay powell and whether he suggests the frontloading of hikes is coming to something of a conclusion. goldman sachs raising their terminal rate forecast but they expect 75 followed by 50 basis points. the dax down. the ftse 100 off. with the boe and their decision coming on thursday. let's get back to the

there will be the biggest reorganization for goldman sachs in its history. goldman sachs planning to provide it flashed of investment banking and trading one unit. these are the hallmark divisions. it is where it makes all of its money. it is its calling card. those two strong areas would become one according to the wall street journal report. coleman's consumer banking would be part of that. bloomberg reported that the ceo had great dreams for marcus to become part of its retail banking because of the stock down well over 20% year to date. investors really not happy so far. the best portfolio of financial technology platforms, specialty lender, green sky. the reorganization could be announced within days and that would make sense that it would perhaps be part of his earnings conference call because that would be happening on the 18th and a couple of days. back to you. question: under pressure. plenty more ahead, keep it here with us. this is bloomberg. ♪ >> we got the dollar index at the moment under just a little bit of pressure. a bit of respite from the

as goldman sachs, we have a higher peak. that the vergence in yields's ins that we are seeing weakness coming through the four for the end and wheat prices, russia withdrawing from that safe passage agreement and we have seen wheat prices spike up 5.5%. let's get to all of our reporters from around the world to break down our top stories on the u.k. grain story. he is normally here is the coanchor on "bloomberg daybreak: europe" but manus will join us from the conference at the center of the energy markets. the u.n. and turkiye have agreed to have ukraine wheat exports continue today. for more on this, we are joined by donna because aleuts go and sybilla gross. what does this latest development mean? can grain shipments keep going or will it be difficult now? >> it is a very good question. nobody knows. yesterday, turkey, the united nations, and ukraine agreed that shipments should still move and today we are expecting ships to come out of ukraine with grain. russia said that it cannot guarantee the safety of passage, so it

several big name companies reported before the bell and in my opinion it's goldman sachs.: we just went through that. it's doing well on a valuation basis. you heard greg and everyone talking about this on wall street. the fact that the stock is trading less than book right now, which make it is attractive in this type of environment. the bond trading picked up the slack and profit dropping from last year and better than expected and sales beat and as you know rejig internally with goldman sachs now being split into three different divisions and combining trading with investment banking, consumer fintech and includes the apple card division in the other two. stu: the market likes their reorganization and selling for less than book. susan: also banks to well in rising rates environment and we've seen, i would say some pretty good earnings from the banks side including jp morgan. stu: rates going up, that's a fact. then hasbro. they missed -- adon't know what that means, they're down -- no, they're up, they're up. susan: i would say hasbro, yes, they missed on bottom line an

goldman sachs really has traded right along with morgan stanley. even though the business mix is quite different between the two. it's interesting, because it's not as if goldman is really held back by the same concerns that the bigger retailer banks are, which is credit and things like that it's really just about deal activity and the fact that investors tend not to really want to pay up that much for trading profits, even though goldman has proven it's a franchise and it's relatively consistent it's just not something that they've put a multiple on in this environment. >> it's hard to tell the sustainability as well goldman sachs up 2.3%. netflix is up double digits in a week but lower ahead of the bell mark, what do you expect? anything different than what the market is expecting? >> i think the real question, we already know the ad product is coming out in early november across 12 countries and we know what the price points are. what the market wants to know, are you coming into this from a position of weakness or real weakness they missed two

what are we hearing from goldman sachs?abelle: goldman sachs has done an analysis here and have looked at some of the key terms. the ones that disappeared or dropped insignificance from this party congress to the last 15 years ago, there were terms like economy, market, reform. compare that to ones that rose -- security, people, socialism -- it does give clues to the broader outlook for xi jinping and the party moving forward. goldman sachs says it is not an inflection point for policy changes. they are looking at where covid zero goes from here and they say we are not going to see any sort of pivot until the second quarter of next year. they are sticking with focus areas like common prosperity. as for what they see in terms of the equity market, goldman sachs is sticking with their preference for a shares over offshore equities. this chart having a look at a-shares, we are trading at about a 50% premium. a little higher than the five-year average, around 32%. kathleen: what about the reaction from hsbc? annabelle: they are

rewards automatically deposited into new accounts thanks to its extended partnership with goldman sachswe talk about apple's continued fintech push. first, stocks roaring back from that selloff sparked by hot inflation numbers. how did tech fare? ed ludlow has been watching all day. ed: it a wild ride. the hot print from september reinforced the idea that the fed will remain aggressive with its rate hike paths. the market stayed sanguine when we look at volatility data like the cboe. the vix index, the market didn't seem to panic, surging back on the nasdaq 100. on the s&p 500, swings of more than 5%. 6% at one point. at one point, down by 3%. let's get technical. look at this bloomberg terminal chart. it was interesting. technical levels did seem to play a key role. the benchmark s&p 500 at one point was down back below 50% below its post-pandemic rally. that 3500 level. that seems to have triggered program buying. in other words, the algorithms kicked into rebound the market. emily: let's dig into tech and how tech fayard. it has been absolutely dreadful. ed:ed: a few weeks, rates hav

jeffrey sachs that's recent come out in the journal of, the american academy of science. all right. the thing now happens. it's 1219 december. a doctor discovers it. he puts it on the internet. he says there's a new virus here in wuhan. and you know what they do they put him in jail for disclosing secrets and he dies shortly. they release him and they say, oh, he died of the covid 19 virus, which kills one and a half percent of people his age. all the other guys mostly die. all the samples are destroyed, all the early forensics are destroyed by the chinese military command, which immediately goes into wuhan. there is no doctor fallacy in wuhan. these are all general such and such, so on. and they go in and shut down the city of wuhan, destroy all evidence of what actually happened in wuhan. the world health organization doesn't their search for an entire year afterwards? of course, everything has been destroyed, as john mentioned, the people in charge of the search are all appointed by. the chinese communist party of the in law we used to receive arrest the local winter the thing sp

goldman sachs sees the same boost does not apply to consumer business. tomorrow goldman sachs is reporting they are watching the trading figures because they have been coming in above expectations and they have been strong in other places. they are expected to bring in $3 billion. they are expected to announce a third large restructuring of their business lines under their ceo who is entering his fifth year on the job. there are a number of executives who are rising amid this reorganization, the question is what does it mean in terms of potential future targets? a combined trading unit, an asset management unit, alongside a separated transaction banking unit that has the consumer businesses in a different unit. while these businesses have different expectations moving into next year which many executives see as a tough economic environment. haidi: we have seen the correlation between how banks do and the s&p 500 does and perhaps the chart on the bloomberg showing that very well. we are have started earning seasons -- we have started earnings season. anna

thank you for joining us -- goldman sachs asset management, i should add. thank you for joining us. >> it is very much focused on how much further rates need to go. what is interesting, i think, is that central banks have traditionally contingent -- conditioned us to think about two years forward. we are now having much more emphasis on data dependency, as your previous color just said. headline inflation, ok, we are paying attention to that. the fed is focused on core inflation, and you see the consensus there, use just -- you just put it up on your screens. the fed is not going to blink on this, even with unemployment beginning to take higher, even with the activity data beginning to weaken. it is all about spot inflation the fed is not yet privy to. yvonne: the risk of overdoing it, how big of a risk is it? >> the fed has had so far, and there is criticism implied, but given where inflation has gone to, the variable lacks monetary policy, means you do not see the full effect of rate hikes for one to two years in the future, so if you go back to where you

beyond goldman sachs we hear from j.p. morgan tomorrow. jamie dimon speaking in d.c. today.s will be the bellwether here not only in terms of profitability for consumer businesses but the street will hold -- hone in on what kind of provisions we might see in those consumer businesses and mortgage business in particular and the pain that might feel. when it comes to the consumer and every trading desk that might have exposure to mortgages across the street. alix: i stole your tease, sorry guy. guy: she just needs to be back tomorrow, that's what i said. because tomorrow is good to be a quite busy day. the next 24 hours let's talk about that. jamie dimon will be speaking at the aif. achievements on the infrastructure law. friday of course over in asia. alix: just talking a jp morgan, wells fargo and the boe emergency bond market buying ends. guy and i are headed to the table. this is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data pla

canadian banks are likely, goldman sachs announced they were restructuring.rspective, brilliant guy but when he talks about there is a chance of a recession, really? charles: he knows there's going to be a recession and here is why. he just hold in his consumer business in some other units, they tried to launch a consumer, kind of average joes, that thing called market switch. neil: they used to be -- charles: that is what they tried to do. by any estimates, pro and con. neil: the private bank and jpmorgan. charles: they have a wealth management division and creative consumer thing -- >> this is a tough one to be fair. >> one of the reasons there's a recession. in any event consumer strategy is on track for all that sort of stuff. they are not getting rid of marcus. marcus makes a lot of money by taking the deposit and lending it out short-term. they don't have the infrastructure for credit cards so this is a failure on the consumer strategy. they don't get rid of markets and make money doing what i just explained but other stuff they had plans, goldman sachs

goldman sachs has been around 10, 11 times earnings.would say american express was that classic great company, not a great stock a year ago there were good expectations for the company. they are one of these companies that benefits from inflation when the prices go up, they get paid a percentage of transactions so, if there's 10% inflation and everything holds constant, their revenue will naturally grow by 10%. i think there were some high expectations built in. and the quart over quarter, her customer numbers weren't great they did well versus a year ago but not so great versus a quarter ago. so people are worried their business is slow >> yeah, for sure. and just when it comes to, i guess, the broader financial area, you mentioned goldman sachs. again, it seems as if people are wary committing to these stocks because it feels as if there's obviously heightened recession risks out there and you don't necessarily want to be buying before we get to the valley. >> absolutely. but what is the best adage for investing and it's hard for us t

goldman sachs predicting a deeper recession for the u.k. in 2023 after the tax return.unt says they'll no longer be proceeding with cuts to the dividend tax rates as the bank of england ends purchasing of u.k. government bonds. so we've got the u.k. story as well. is this what you're expecting also from the mack he crow story in the -- macro story in the united states, that things will get tougher. that's why we're focused on guidance for companies that report earnings this week. >> sure. i mean, i think if you look at -- if you look at the economy in today's day and age, things really move very, very quickly. we wrote to our clients a couple of weeks ago how we thought this u.k. scenario was a shot across the bow in terms of mark to market moves we've seen particularly on the interest rate side an conversely what we see governmental agencies doing in terms of trying to alleviate the inflationary pressure. so i think what you see what happened in the u.k. in particular is on one hand you have the central bank that's saying we want to raise rates to he slow down the infl

maria: goldman sachs is out with earnings right now.in better than expected at $8.25 a share. that's versus an estimate of $7.69. revenue this morning coming in at 11.98 billion on goldman revenue for the quarter, that is better than expected which was 11.41 billion. keith, your thoughts on the goldman numbers and overall this earnings season coming in a little better than expected, the stock market reacting at the highs of the morning right now, up 422 on the dow. >> well, number one, isn't that great to see that we do have resilient companies filled with brilliant people, can put up good numbers. i am surprised that the beat is as high as it is with goldman in sick. there seems to be a very sharp split this earnings season between companies of size and scale and companies driven by consumers. i think consumers are struggling, actually and there's a big bifurcation between what's happening out there and where this country's going. i think we've been in a recession for months and months and months and the data is just now catching up. e

we're -- goldman sachs reporting this morning. we are also previewing netflix earnings.merican crime out of control, voters are sick and tired of it. who they are blaming for the historic rise in crime across the country. plus, three weeks away from election day, why republicans are poised to outperform democrats. don't miss a moment of it. you're watching "mornings with maria" live on fox business. ♪ my dad was a hard worker. he used to do side jobs installing windows, charging something like a hundred bucks a window when other guys were charging four to five-hundred bucks. he just didn't wanna do that. he was proud of the price he was charging. ♪ my dad instilled in me, always put the people before the money. be proud of offering a good product at a fair price. i think he'd be extremely proud of me, yeah. ♪ living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio. the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause stat

. >>> and goldman sachs is planning to reorganize according to bloomberg, the bank would merge the businesses under another umbrella which is a third division would house transaction banking. the portfolio platforms specialty lender and ventures with apple and general motors. >>> and elon musk reversing course over asking the pentagon to pick up the tab when it comes to free starlink internet in ukraine. tweeting on saturday, the hell with it. starlink is still losing money and other companies are getting billions, we will keep funding the ukraine government for free. in a letter, the company said the use of starlink in ukraine could cost close to $400 million over the next 12 months. that is according to reporting from cnn oh, well, seema. you never know. >> he just tweeted two hours ago he will add a donate option to starlink the story continues. bertha, thank you. >>> turning back to markets. james bullard is leaving the door open that the central bank will hike 75 basis points in the next two meetings in november and december speaking this weekend on the sidelines of the imf and world ban

for the better part of half decade, goldman sachs has been trying to crack the american consumer markete seen executives say they want goldman sachs seen as the american consumer as a "lovable teddy bear." the ceo has tried to woo the likes of reese witherspoon into partnership. what the big take shows today, the big final goldman was trying to create of gateway products for american consumers like checking accounts will no longer be offered to the mass market. they will be focused more on wealth and management clients, a smaller pool of customers. why is this happening? it is tough to crack the american consumer, it is expensive, the technology is hard and it is a very competitive landscape. dani: when not even reese witherspoon can save you, you are in trouble. thank you as always, charlie wells. coming up, a not so golden return from the golden week holiday for chinese investors. this is bloomberg. ♪ dani: welcome back to "bloomberg daybreak: europe," i am dani burger in london, and is cranny is in istanbul. let's look at what we will look out for this week. we have the ecb's dovish

goldman sachs expecting the fed rate peak at about 5% in march rate that is higher than previously predicted they are expecting the lift of the benchmark to 5% in march. that is 25 basis points than earlier expected. we have gone from potentially a pivot to perhaps the narrative that central banks will need to do more. shery: a dovish take when it comes to the bank of canada or the ecb has been felt across the market. . . look at where wall street ended the 10-year yield falling to 4%. u.s. stocks also had their best to-week performance since november of 2020. we continue to watch moves on the asian session on monday as we have seen some economic data filter through with perhaps more indications the fed fight against inflation might be working. we saw u.s. pending home sales sinking last month. it is also earnings season. iran that is right -- annabelle: that is right. in terms of the set up today, we are looking to take their cues from wall street. aussie features last up 1.3%. new zealand in the green. dollar wise, it is in a tight range ahead of the fed decision. beyond the fed, there are

y ldman sachs thinks that stock can rally 30% from here.ight back. ustomizable options chain, easy-to-use tools, and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities. while an earnings tool helps you plan your trades and stay on top of the market. ♪♪ ♪♪ ♪♪ be ready for any market with a liquid etf. get in and out with dia. >>> up next, a top strategist who thinks the lows for the year are not in yet her top defensive plays straight ahead when we take you insides market zone. >>> and then coming up later on overtime, guggenheim scott minor gives his latest market prediction in an exclusive ssterview you do not want to mi the dow is down 330 points nasdaq holds up better so do small caps we'll be right back. so... i know you and george were struggling with the possibility of having to move. how's that going? we found a way to make bathing safer with a kohler walk-in ba

when it comes to goldman sachs, a very different story.ce some challenges, not nearly on the same scale as credit suisse, but when it comes to that, they're starting to walk that back. how big of a shift is this and why are they doing it? charlie: this is a really great story on the terminal, and it is talking about how goldman had dreams of becoming a centerpiece on main street in terms of retail banking. and executive at the bank at one point said he wanted americans to think of markets as a lovable teddy bear, a more positive association with goldman. but what we are seeing is backtracking. there was effectively a funnel the bank was trying to create to bring in the everyday consumer. these are things like checking accounts, robo-adviser. those are now being offered to a more limited set of wealth management managers. this is a consistent change that goldman has had. tom: how much of this is down to regulatory concern? charlie: they were moving very quickly. i believe it was the consumers cfpb asking questions. anytime you see a bank tr

she wrote about her experience at goldman sachs.hat became a rare tell-all from a high-ranking person from goldman sachs writing about wall street. alix: what is goldman's response? >> the phone that including the names of the two individuals was an unnecessary invasion into their privacy and not central to the case. they said these are unsworn complaints and people never should see who these complaints were logged against. guy: solid reporting. thank you. mark is beginning to roll off, equities down, s&p down by .7%. this is bloomberg. hi, my name's steve. i lost 138 pounds on golo and i kept it off. so with other diets, you just feel like you're muscling your way through it. the reason why i like golo is plain and simple, it was easy. i didn't have to grit my teeth and do a diet. golo's a lifestyle change and you make the change and it stays off. golo's changed my life in so many ways. i sleep better, i eat better. took my shirt off for the first time in 25 years. it's golo. it's all golo. it's smarter, it's better, it will change

thank you for the latest on the goldman sachs story. that is sonali basak. developing news tied to twitter. the team breaking this now. twitter froze the equity awards accounts for employees on monday as that deadline to seal the deal with elon musk approaches. ed ludlow breaking that news. walk us through the significance of this. ed: these are the accounts twitter employees check based on stock compensation. the check for status and a notice was placed on those accounts monday. essentially it told them they had been frozen. the ability to trade. there was a quiet period in place anyway, but the company is anticipating this deal. twitter shares pushing higher. it is a sign to the market twitter is proceeding as expected to work to close this deal. the deadline installed by the delaware chancellery judge is 5:00 p.m. on the 28th. but there have been confusing signs from both parties, commentary about what the intentions of both sides are. these accounts are frozen and staff were notified monday. what was interesting is that was technically a day off for twit

those gains came on the back of several better than expected earnings reports and namely golgoldman sachs that reported higher than expected revenue profits and glaring asterisk and session high for goldman $324 and have it at $312 and change right now. look at the top of the nasdaq 100: some of the names are lucid, octa, and docusign and pandemic darling showing signs of life second day in a row. back to s&p up 23 point-blank layupses and the nasdaq, which is gaining as well as i showed you, they track that of the dow. see that dip around 11:43, 11:4. that may be because of something deeper into not just goldman's earnings but jp morgan, citi group, morgan stanley, bank of america results. all of them on the surface but morgan had pretty good quarterly numbers and year over year drop in profits and in some cases, goldman sachs, morgan stanley, citi, wells, very pronounced and brings us to floor show and guest today of waylon capitol advisers and ryan payne of payne capital management. ryan don't look a gift horse in the mouth and doing favors digging deeper here. how do you view the mark

we've got goldman sachs tomorrow, netflix as well.kind of third-quarter earning season are you expecting and importantly are you expecting to hear dire predictions about 2023 when we get the guidance? >> yes, so i can't imagine guidance being that strong. i think this will be a relatively okay earnings quarter and what you see with bank of america. their net earnings are down year over year. almost 3 quarters of a billion dollars, maybe more in this quarter last year than they did today yet the stock is up because of lowered expectations so this is coming back to our classical earnings quarters where analyst estimates have come down, come down and then you get slight beats by these companies and it's looked at some sort of success. i don't know that the guidance will be as dire as it will most likely end up. i'm -- i think earnings estimates are too high going into the rest of this year as well as in to next year. you are seeing global pmi, two of them have been contracting which is not a good omen for earnings and in the u.s. you hav

as we said, goldman sachs saying it is a bullish call. any rally we get in energy prices helps to fuel those inflation fears on the market, plus the opec-plus decision. >> it was an interesting decision. going into it, there is a tight rope opec-plus members were walking. the demand disruption, and wanting to maintain price stability and price advantage. we got this firm review from the u.s. president pretty much immediately. defended by the ministers making that decision. saying it is necessary to protect the industry and their own economies from the risk of a global slow down. it is fair to point out, because they are using these outdated data predictions, the only oil supply will have -- the supply will fall by half the amount. just adding another risk to shocking the global economy. >> i wonder if the opec-plus members wonder if it is headed for a slow down. this is a bit of a preemptive move. the federal reserve are looking at the rising risk of recession on one side and inflation rates staying stubbornly high in the u.s. it is the r

they are trying to bring goldman sachs to the masses, if you will.sn't worked out, it has been expensive and is not making any money. it is a very crowded space. manus: david, thank you so much, unfortunately time is against us. bloomberg markets: europe is next. this is bloomberg. ♪ ♪

we do have goldman sachs still coming tomorrow morning.have about $5 trillion in market cap reporting this week, and next week, over $15 trillion reporting. so we could see that violent sideways movement really shakeup. guy: yeah. today feels sideways. earnings season continuing will be a massive catalyst. that is katie greifeld on what is happening in the markets. what is happening in westminster is we are awaiting the arrival of the chancellor of the exchequer. i was under the impression he would be speaking at 3:30 p.m. u.k. time, about now, but it looks like that will be pushed into the next hour now. as you can see they're on the left-hand side, they are sitting before asking questions. the exceptional question will be taken by penny morton, effectively standing in -- you can see her here -- for the prime minister, he will not answer this question. it's interesting that liz truss has decided not to be in the house. as we await the statement we will get in a few minutes from jeremy hunt, let's go to lizzy burden who is standing by. she

goldman sachs is out there saying it's 75 basis points this we say, 50 in december, 25 in january.ound about those numbers. if that was the case, what would the market do? >> it's not headline worthy because the fed funds futures largely if not entirely discount that. i actually think it'll be 75, 50 and then a stop, look around and listen moment and that's really why the market rallied last week. that also in a sense of a red wave coming. i think the fed actually comes up for air and doesn't do that last 25. if we get the full, you know, 5%, it's baked into the cake as they say. stu: a red wave coming and what you're predicting from the fed would give us a nice market lift. >> yes, indeed. stu: all right. jason, thankers for coming in with us. back to ashley, you with us please? headlines on rathion, please. >> i do indeed. the whistle blower said the company paid him $1 million after suing them. the former engineer bruce casius said the company punished him after he was told to submit false gps test results to the u.s. air force. take a look at uber. they've begun showing ads for

as a former finance executive himself at goldman sachs, but also in hedge _ himself at goldman sachs,e thing i want to pickup— in hedge fund land. one thing i want to pick up on is that whoever comes next we _ to pick up on is that whoever comes next we assume, whoever the next prime _ next we assume, whoever the next prime minister raised and there is lots of— prime minister raised and there is lots of chatter about a general election. — lots of chatter about a general election, this crisis did not create the mess — election, this crisis did not create the mess. this mess was created by the mess. this mess was created by the coronavirus pandemic, the ukraine — the coronavirus pandemic, the ukraine war, it has been made worse by liz— ukraine war, it has been made worse by liz truss's — ukraine war, it has been made worse by liz truss's actions. it is the equivalent— by liz truss's actions. it is the equivalent of seeing a smouldering fire and _ equivalent of seeing a smouldering fire and instead of trying to put it out you _ fire and instead of trying to put it out you put— fire and i

neil: goldman sachs releasing economic bond market at 2 in the morning.an: apple devices out of nowhere on a wednesday afternoon or morning. but that's kind of the surprise element. now, in terms of sales and selling, you know, we've had some pretty good albums in the last year or so, drake, kanye, and this is taylor's tenth studio album. as you said, no las vegas residency, which adel has. neil: or months and months of sold out shows. susan: this plays into -- can i get into business again? it plays into apple's earnings next week and apple music, streaming services make up about 25% of their sales. but also drives social media. neil: is that the popular venue for this? susan: spotify was crashed but usually spotify, pandora, apple music type of release. however -- neil: these were all music services you mentioned? susan: they're all music services, yes. talk about social media because there's social media buzz with the album releases and call them drops these days. yes, snap though, i think, dragging the entire sector down along with them because their

i see the goldman sachs is downgraded. i'm actually long that for myself, for some of my clients.ple aredown grading some of these brokerage firms far too much. goldman would be my favorite. i would say think forward and remember in another year or so, these mortgage rates will have to come down, the fed will have to get their foot off this gas pedal and we'll see better times but market will price that in months before it happens. cheryl: with goldman sachs in particular, the thinking goes in particular with goldman, it is investment banking revenue, it is commodities, it is fixed income trading. all of that, it is not going to be a good quarter, not going to be a good year but for any of them. in particular goldman is a little more sensitive to that. as far as jpmorgan chase, i see your point. look jamie dimon is still running that bank and his comments about the economy, he has been very clear. the one thing i'm curious about is with wells fargo. wells fargo the biggest chunk of their business is mortgages. more west coast than east coast but we've seen a shift in housing. dema

damien courvalin is the head of energy research at goldman sachs .berg radio for in-depth analysis from the day's newsmakers. we are broadcasting live in our studio in hong kong. more ahead. this is bloomberg. ♪ ♪ haidi: a quick check of business flash headlines. the judge overseeing the elon musk twitter casas's trial remains on track for now. she says the court has not yet received an agreement both artist to put the case on hold. twitter shares remain below musk 's $54.20 share offer as many questions remain around the offer. credit suisse stock resumed its decline, falling 4% at the firm announced needs to leverage its banking operations. hsbc said credit suisse had no immediate concerns around look aegean funding. according to reuters, the fifth national bank says it is monitoring the situation. shares down 54% this year. virgin atlantic pulling out of hong kong for good. the u.k. airline is canceling flights and closing offices in hong kong, ending a 30-year history in the city. one key factor is the closed russian airspace, which extends the f

goldman sachs, home depot all higher. dow up 275 and nasdaq down ever so slightly.n to this one, a new study shows more than half of workers want to work overtime or work more shifts. they want to work, they want to make money. mike rowe is here with us this morning and knows all about this kind of stuff. you co. you know all about the real contrast to quiet quitting. these people want to work. >> i want somebody standing off camera with a football at all times to bounce it off the head of anybody. stu: would you react as well as that guy did? >> probably not. yeah, so that stat to me simply proves that we can't paint with a broad brush. we can't say that this is what workers are doing today anymore than we can say this is what teachers are doing today or really anything else. the people that want to work today are doubling down. they're coming in very early, they're staying late, they're doing whatever it takes to do. the people who don't want to work are not coming in. whether they quit quietly or loudly or exit the work force, nick has become a friend of mine, ec

i were circling over this area, the fuse of jeffrey sachs not commenting on the incident. you asked zachary of saint anthony blink and said that attacking russian pipelines was put in no one's interest. he did, however, at the very same time. welcome the e. use recent efforts that distance itself from moscow's energy supplies. it's a tremendous opportunity to once and for all remove the dependence on russian energy and thus to take away from vladimir putin, the weapon ization of energy as a means of advancing his imperial designs. that's very significant. and that offers tremendous strategic opportunity for the years to come by while the u. s. is likely to seize the opportunity to increase ellen g shipments over to the e. u economist, dr. ikea helmer says, europe's dependence on american energy supplies it's risky. this is not only ridiculous, this is, this is totally wrong. and we what change the dependency on a monopoly monopolized on the us l. n. g with crisis who are where we are not compatible in the world. so we would have to rely on us liquid natural gas. we not onl

given what are good ruesults >> goldman sachs later today devin ryan, thank you. >> thank you, frank.'s get a check on the top stories with pippa stevens good morning, pippa. >> frank, starting with intel. looking at a lower valuation for the ipo of the self driving car unit citing insiders with mobile eye with a $50 billion valuation now expected to fetch under $20 billion and sell a smaller number of shares the journal says selling at a lower price and fewer shares means they are hoping to push up the value of the shares once they start trading intel is expected to detail the new valuation expectation today. >>> sticking with tech microsoft confirmed to cnbc it is cutting more jobs after its call for growth to slow. axios reported the layoffs on monday said the kucuts impacted fewer than 1,000 workers this is three months after the company announced a round of layoffs affecting 1% of the workers. >>> the faa pushing for boeing to review safety documents for the new model of the 737 max jet. the agency has been unable to review the company's submissions for the 737 max due to informa

should abandon the prospect of joining nato with similar statements made by another entrepreneur, david sachs. why did the american establishment intersect on the topic of the current conflict and is washington ready to listen to representatives of big business ? whose fortune is estimated at $ 3.2 billion bill ackman is already the third most influential businessman in the world, calling on the west to think again and negotiate with russia, taking into account its geopolitical interests, they are based on categorical and ineffective requirements. crimea was part of russia until 1954, its mostly ethnic russians, which seems to be the reason why the world didn't do much when russia annexed it back in 2014 , if we go back to status, quoda before february 24th. russia will not receive compensation for its aggression. ukraine will be able to immediately begin to recover with support. west, thousands of lives will be saved, and resources can be invested in the restoration of ukraine and not in a war that will only lead to more destruction and death. equiman. also you. sharply opposed to ukraine jo

as david solomon of goldman sachs reminded us, recession is still very much out there. >> when you find inflation is embedded, it's very hard to get out of it without a real economic slowdown. so i, too, am in the camp we likely, likely, have a recession in the u.s. going to have i think, most likely recession, might be in a recession in europe. >> reporter: now, nobody is forecasting a recession or anything like that of the 1980s, but you have to remember, there's an entire generation of people who have no experience of slowdowns, recessions and tight money with interest rates up 4%, 5% 6% 7%. so, john, the scenario is glooming. what really worries people here, what worries all this is geopolitical risk and how it could get a great deal worse. >> yeah. a lot of danger points all around the world. richard quest in riyadh. great to have you there, my friend. thank you. >>> opec+ -- russia and saudi arabia are "weaponizing oil and gas." that from the u.s. former ambassador to saudi arabia. how he thinks the u.s. should react. >>> and brittney griner back in a russian courtroom this hour t

an article by doctor jeffrey sachs let's come up in the journal of the american academy of science. now in december 2019 a doctor describes it and says there's a new virus in wuhan and they put him in jail for disclosing state secret. >> he died shortly after. >> they released him and say he died of covid. all the samples are destroyed, forensic samples are destroyed by the chinese military bio weaponss command which goes to wuhan. thesene are general such and suh and someone and they go and sit down the city of wuhan and easter evidence of what happened. >> the world health organization doesn't begin their search for an entire year. everything has been destroyed, people in charge are appointed by the chinese communist party. >> it speaks for itself. jon stuart said if there's chocolate goo on the foot of the hershey fauci in pennsylvania, it's crazy to think it's immigrating from brazil. understand bats are from 1100 miles away normal range is 20 miles in front of the box have been located within 500 miles of wuhan, china except that lab. not ine history research has ge on for them

american economists, jeffrey sachs, is gang did the democracy for him. when he tries to express his view, the u. s. foreign policy is non democratic. you can be democratic at home and ruthlessly imperial abroad. the most violent humphrey in the world since 1950 has been the united states in boulevard in buffering will not wear no more or less from jeffrey. i am the jeffrey. i'm your moderator and it's enough. okay. and not the 1st time the sikes was robbed of the freedom to speak his mind. earlier this month, the u. s. economist suggested that washington involvement washington was involved in the north stream pipeline bloss in the baltic sea, which prompted television host to pull the plug on a bloomberg t v interview. ah, and now to the annual meeting of the val di discussion club, which enters is 2nd day in moscow to day with more paneled discussions on the schedule as cost live. now to our t correspondence asana, boy co for more on today's event, sir. good afternoon, c oksana. thanks for joining us. what can we expect from day to the val i discussion

goldman sachs to billion rajah fbes forecast by bloomberg economics. estimates the probability of a recession in the us in the next 12 months at 100%, city economists jp morgan and fitch. they give an estimate of 670 us gdp in the first and second quarters has been consistently declining, which already meets the criterion of a technical recession to by the end of the year, growth could be close to zero, with the state debt exceeding $31 trillion for the first time in history . inflation is rising today. it is over eight percent. trying to contain her fed. chose the path of excessive tightening of monetary policy, increasing the interest rate at the next meeting, which will be held in early november, the rate may be increased for the fourth time in a row. the growth rate of the american economy is close to zero, inflation is in the region of eight percent, the problem is that this the level is not slowing down, as much as the us fed would like the job market is overheated there is a risk-complex wage price spiral, and the debt will continue to rise. the