for resiliency at the edge, trust schneider electric and it orchestration by cdw®. who get it. shery: time now for morning calls. morgan stanley says hedging costs are getting too expensive across major asset classes. investors should position for a peak in price swings. top targets include the canadian dollar credit markets. citigroup saying it's time to buy the dip in emerging markets. a trade looks appealing as valuations come down after the recent global strut -- global selloff. stata just say there bear market checklist is only six of 18 red flags. haidi: china is now second to last in bloomberg's covid resilience rankings which lists the best and worst place to be during the pandemic. the cdc may stop collecting data from hospitals of suspected covid cases. our managing editor joins us now. there's a number of factors that you would imagine contributed to china falling down these rankings. >> we look at 10 data points. they all fit into the covid resilience score and what it's the best place and worst place to be in the covid pandemic when it comes to everyday

for resiliency at the edge, trust schneider electric and it orchestration by cdw®.lix: u.s. markets on the highs of the session, along memorial day weekend. the volume not as impressive as we might have expected, as we take a look at some of those moves. abigail: a nice rally for stocks here. the s&p 500 up on the week for more than 5%, its first up week after that longest weekly losing streak since 2001 and late march. dell technologies up 11.6%, a very strong quarter, helped out by demand for office -- and networking. same deal for ulta cosmetics, ulta beauty, up 9.8%. a huge beat, more than a 10% sales beat, a bigger beat on the bottom line for managing costs and they raise the outlook for business folks as they returned to the office. they want makeup, cosmetics, other personal care items. auto tech up 8.7% on the corner, but not so much for gap, down after having problems at old navy. apple having its best week on the year, it's really impressive. this year for apple on a weekly basis hasn't been great, but this week, up more than 7%. the stocks moving higher,

for resiliency at the edge, trust schneider electric and it orchestration by cdw®.et it. tom: good morning from the world economic forum in davos, switzerland. it is a perfect day and supposedly a perfect american labor economy. our michael mckee, the weekly's job at -- the weekly jobless claims number. michael: not just the weekly jobless claims number but we are getting the second read on gdp. at this point the jobless claims numbers are coming in at 210,000, which is down from 218,000 last week. that is going to be good news. there were some who went as far as speculating the labor market was rolling over but clearly that is not the case. gdp -1.5%. that is .1% lower than the 1.4 percent originally recorded by the government for the first quarter. personal consumption rises. we spent more money. 3.1% increase over the fourth quarter compared to 2.7% increase. it does look like the economy is still in decent shape as well -- or it was coming out of the fourth quarter and into the first quarter. the question is what is happening in the current quarter? tom: the mar

for resiliency at the edge, trust schneider electric and it orchestration by cdw®. who get it. xfinity mobile runs on america's most reliable 5g network, but for up to half the price of verizon, so you have more money for more stuff. this phone? fewer groceries. this phone? more groceries! this phone? fewer concert tickets. this phone? more concert tickets. and not just for my shows. get $400 off an eligible samsung device with xfinity mobile. take the savings challenge at xfinitymobile.com/mysavings or visit your xfinity store and talk to our switch squad today. tom: "bloomberg surveillance." the meetings at the world economic forum in davos, into this evening, into the parties tonight and tomorrow. lisa abramowicz and tom keene, we welcome all of you. sort of halfway through. lisa: halfway through davos. i think there's this feeling that people are willing to say things off the record about the outlook, and there is a great degree of concern about how things are going to proceed going forward. tom: everyone is looking at their cell phones, but they are not looking

for resiliency at the edge, trust schneider electric and it orchestration by cdw®. it. ♪ (drum roll) ♪ and it orchestration by cdw®. ♪ (energetic music) ♪ ♪ ♪ ♪ ♪ (camera shutters) the all-new lx 600. ready for any arena. ♪ ♪ rishaad: we are in the red after data from china. it points to a picture where you have the fed grappling with a slowdown in high inflation, is there a leg of the global economy that can shore up growth? chetan: it seems to be the region excluding china within asia is probably the part which can do well. this is a part of the region that did not see reopening in a full-fledged manner, and now we are seeing one after the other country taking up reopening. the region should now take off in the next few months, despite all of these challenges you are seeing in the global economy. you mentioned about the fed and china, but there is also geopolitical tensions and high commodity prices. these factors will drag growth lower, but this part of the region which is reopened now will probably be the offset. rishaad: i would not call it the stars aligned in

for resiliency at the edge, trust schneider electric and it orchestration by cdw®.s a quick check of the business flash headlines. credit suisse's ceo says banks are unlikely to return to working full-time in the office, saying is counterproductive to push staff to come back. in extended trading, after posting a beat on its forecast, the software vendor expects revenue to be a tie in the reporting period. profit excluding some items will be up $.92 per share in a signs uma is finding -- in a sign zoom is finding ways to grow beyond the pandemic room. air pmb stopping operations -- air bnb stopping operations in china as the country continues its crackdown on covid-19. it is ending rental despite a big push on mainland china that accounted for only 1% of the countries revenue -- the company's revenue over the past years. we have some breaking news. the growth forecast continuing to be slashed for china as the country grapples with the negative consequences of its covid zero strategy and the slowdowns coming from those lockdowns. we are now getting from ubs cutting th

in terms of europe, we are exposed to schneider electric.e have tech names like right move in the u.k.. we have hello fresh has an example. we are finding great opportunities across growth and value. soybean, midland in the u.s. and in terms of high energy prices, we invest in renewable diesel via a company called darling ingredients. haidi: the rentable strategy has not changed with the rise in fossil fuels. >> renewable diesel in particular is highly correlated to the energy price. it is obviously a much greener play. renewable diesel is a 100% substitute for traditional diesel. i terms of greenhouse gases, between 60 and 90% less. it is a fantastic renewable source of energy for companies looking to reduce their carbon footprint. we see a significant runway in demand and supply growth. haidi: we appreciate your time should head of investment strategy at fire trail. david: we do have in 20 minutes a nice segment coming on supply chain issues as it pertains to fossil fuels and new resources of energy. before that, a couple of things i want