bytedancehinese owner -- sarah ponczek has been following the ups and downs. tech has been leading the comeback. also, this latebreaking news ikola, and the sec investigating the company over short-sellers. sarah: the last i had checked, down about 8% or so after the market closed. examining nikola based on this claim that came from the platform hindenburg. 30%, 35% ors fall so from last week. it has been quite the ride for

welcome more, let's bloomberg news cross asset reporter sarah ponczek.e had a couple weeks of fairly intense selling of some of the hot momentum, tech names. timeng down for the first in quite a while. s may behe-board gain helped in part from some of these deals. surging.kola is a day like today enough to convince people that it is back on? sarah: you have to consider the fact that before friday, the nasdaq moved more than 1% every day. one of those was to the upside. see very healthy the breadth in the market. the s&p 500, more than 90% of its members finishing higher. this deal news does insight excitement. investors like that companies are using their cash in ways other than just buying back stock. at the same time, it was not just tacked leading the way higher. -- the russell 2000 up to .7% today. inis up for its best month two years. a turnaround intact. we are also seeing other areas participate. romaine: when we came in and saw all these deals on the table, there seems to be this general sense that there was a reflection, the fact that companies

sarah ponczek, great to have you in the studio. we are going to continue this conversation and talk about what is leading. leavitt isryan director of investment strategy at invesco. we have him coming up after the break. this is bloomberg. ♪ romaine: welcome back to "what'd you miss?" it was one of the most volatile weeks we've seen since at least march. we talked about all the conspiracy theories, whether masayoshi son is driving up options prices -- joe: on his robinhood account. romaine: that would be the scope of the year. but there were a lot of more fundamental valuation signals that this market was sending before the selloff began. again, maybe we don't need to overthink this. up sorket was screaming hard. if you look at nasdaq 100 stocks, absolutely surging. almost all of them were around 80%. again, just a lot of things. was massively overbought. i'm looking at where apple was. well into the 80's. it is now back down at 54. we did see some dip buying today. joe: this is the big question. briancome to welcome in leavitt. ea

emily: sarah ponczek, thank you so much for that update. billionaire peter thiel will be keeping a tight grip on the company even after shares begin trading tomorrow. as we reported, shares pricing it $7.25 apiece. he will have more control over palantir than any other individual or investor group, and a voting structure will award additional power to him and two other cofounders in perpetuity. i want to welcome in lizette chapman, who has been covering this every step of the way. the price, there has been a lot of concern about valuation, raising it quite a high valuation on the public market. what is -- what is the pricing of the shares tell you? >> like sarah was saying earlier, this is just a reference price. what the shares actually will start trading at when it opens could be vastly different. we do know that the reference price is considerably lower than the $10 amount some people were bandying about. two said, the only other technology direct listings that , had aglean insight from reference price that jumped up , and up tospotify 1

romaine: always great reporting from our very own sarah ponczek.oming up, we will continue this conversation. it does not have to be 60-40. it could be 30-30 or something else. joe: 30% tesla allocation. romaine: this is bloomberg. ♪ classic 60-40 portfolio. , has been, 40% bonds a winner for a long time. with yields as low as they are, there is concern that there will be a floor under those yields. that is a lot of folks looking for other areas to may be taking that 40%. gold andtegists say others point to crypto. joe: when i think about what do i want to hold instead of the safest asset class in the entire world, u.s. treasuries, i think cryptocurrencies sounds like a good substitute. seriously, there is this hunt for alternative assets. this year, bitcoin specifically fifth it really rising is interesting to see evidence that perhaps bitcoin is starting to take on a greater role in institutional diversified folios. caroline: we are seeing this continued promising of very low borrowing costs. this sort offor preservation, this inflation edge. sta

joining us to talk about how it has impacted markets, we have bloomberg's sarah ponczek. t's start with the fed decision and how it rippled across the markets today? sarah: we have a lot of moving parts but when it comes to the fed, you officially have what is called outcome-based for guidance. as some call it enhanced for guidance. werethe highlights were, one, the fed does not expect to raise interest rates until 2023. three years away. will notme time, they raise interest rates until inflation does meet the 2% target on an average basis, and we seek maximum employment. as you did mention, chair powell did say the recovery has been faster than he expected, downside risks are hanging around. when i spoke with investors about maybe what bugs the markets, what sent stocks lowers, you see the s&p ending down .5% after gaining at one point point 8%, it was about quantitative easing. that there were no further promises on that and. so we do see the short end of the bond market anchored more than the long and. that was reflected the bloomberg spot index though ending flat on th

sarah ponczek joins us.e whole show, we have been talking about some of the re-rotation, some of the signs that perhaps with the no stimulus that things have slowed disinflation is reemerging. the gold line is gold and the white line is rates. you can see how they are inverse with each other beautifully. what you can see that in the last several weeks we have seen real interest rates start to creep up a little bit. the fed has done and extorted a job depressing real rate trying to excel with economy. real interest rates coming up a little bit and gold has lost a lot of steam. ounce andr 2050 an now at 1900. you can use gold as a proxy of disinflationary deceleration. perhaps thatus gold is rolling over. caroline: difficulty finding a non-correlated asset right now. maybe bitcoin is it. maybe crypto is it. maybe you can get total diversification. no, you can't. let's look at what happened in terms of bitcoin and gold. good for crypto lovers. interestingly today, that did not work out. we saw gold down a touch

bytedancehinese owner -- sarah ponczek has been following the ups and downs. ch has been leading the comeback. also, this latebreaking news ikola, and the sec investigating the company over short-sellers. sarah: the last i had checked, down about 8% or so after the market closed. examining nikola based on this claim that came from the platform hindenburg. 30%, 35% ors fall so from last week. it has been quite the ride for nikola. still up more than 200% this year but certainly getting hit pretty hard after these original allegations took hold. now, getting even more focused with the sec taking them on. emily: this on the back of gm taking a huge equity stake in nikola. let's talk about tech more broadly. news, continuing development. oracle is in the leading position but a potential deal still under review. oracle shares did rise. walmart could still be a part of this. sarah: there are reports that walmart could still be part of this through the e-commerce division. if you look at shares, the reaction, we did see oracle shares spike the most. however, we did se

alix: sarah ponczek joining us. coming up, more volatility in the bond market.son will be joining us. this is bloomberg. ♪ ♪ ♪ ♪ ♪ the big events are back. xfinity is your home for the return of live sports. so you're a small bor a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. guy: live from london, i am guy johnson alix steel in new york. down to get down to the european close. here is what is going on and europe. astrazeneca halting its vaccine trial as a patient gets sick. new covid cases continued to surgeon europe. we will hear from boris johnson slowly. lvmh walking away from the deal to buy tiffany. the pound continues to slide as the u.k. publishes legislation the treaty with the eu on northern irelan

sarah ponczek, thank you for joining us.ly kaplan and he warned the fed's guidance may be encouraging excessive risk-taking. gives you a signal come if you are a market participant, that you need to take more risk. building ups about excess risk-taking, which can create fragility's and other excesses in the system, which are hard to see in real time but easier to see in hindsight that could create issues. vonnie: that was part of our exclusive interview with dallas fed president robert kaplan. you can catch more of the interview next hour right here on bloomberg. coming up, adapting art auctions. christie's ceoth how auctions are finding new ways to reach buyers amid the pandemic. this is bloomberg. ♪ tom: this is bloomberg markets -- -- amanda: this is bloomberg markets. i am amanda lange and turano, vonnie quinn in new york. we talked about the stay-at-home stocks. could the big auction houses be benefiting from a stay-at-home trend with a certain type of investor? guillaume cerutti is ceo of christie's. thank you for bein

let's bring in sarah ponczek. say, it has lightened up, the nasdaq was down about 5%.int over a two-day span, we have seen the nasdaq enter a correction, down 10%. it has lightened up, but one thing that you can take away from today's trading action is that even though we are seeing pretty heavy selling, we are seeing this rotation persist. you look at the equal weight index of the s&p 500. it gives smaller companies in clout as just as much the heavyweights, which shows you that this is very top heavy. at the same time, banks are trending higher today. if you look at value stocks, they are outperforming growth stocks once again. so a continuation of what we saw yesterday. you look at the names that have been highflying -- apple, tesla, amazon -- now they are turning out to be the losers. those that had not participated much, they are trying to become the leaders. vonnie: one of the reporters pointed out that if this was really a risk off trade, you would see bonds rallying, and we are not seeing that. sarah: we are not seeing bob's rally today which is interesting. yi