kriti: simone foxman, we thank you. coming up, the u.s. market is still going strong according to the latest jobless claims number. we get the latest on the american economy, next. stick with us. this is bloomberg. ♪ kriti: welcome back to "bloomberg daybreak: europe/ ." a lot of attention on the jobs market continuing u.s. jobless claims rose, suggesting americans who are losing their jobs are having even more trouble finding a new one. our markets reporter is here to discuss more. it is a hot topic and has been for a year. it is not getting old anytime soon here it is this showing signs that the labor market is weakening? is there hope? >> a lot lot of focus on the continuing claims numbers that surged the highest since february earlier this year. a lot of people would take it with a grain of salt. the survey week was the week of thanksgiving, and a lot of us are busy eating turkey. as you can see on the chart, the rise in claims has been steady. the initial claims also rose a bit, taking the four week average to 230k. that is still a ve

dani: thank you so much, simone foxman. this earnings season has been so interesting.ke with socgen of last week and they said they are not cutting staff. they are at a better place than u.s. banks. manus: it depends on who you are owning in. if you're owning in on credit suisse it would be, yes and what would you like for those? what is the power of your bargaining chip? this is the question that needs to be asked. there will be a lot more questions for by ends and it depends on the value that you have in your hand. dani: very vastly different tradition -- different positions. me up, we talk about russia, a pipeline blast and ukraine's war impact. this is bloomberg. ♪ introducing the new sleep number climate360 smart bed. the only smart bed in the world that actively cools, warms and effortlessly responds to both of you. our smart sleepers get 28 minutes more restful sleep per night. proven quality sleep. only from sleep number. manus: gas flows are continuing by alternative links after a pipeline blast in russia. a lot of questions. let's get to our correspondent, ol

dani: thank you, simone foxman in doha. u.s. bank ceo sounds gloomy alarm.e going to discuss the economic outlook with the chief economist at wood & co. hi, i'm lauren, i lost 67 pounds in 12 months on golo. golo and the release has been phenomenal in my life. it's all natural. it's not something that gives you the jitters. it makes you go through your days with energy, and you're not tired anymore, and your anxiety, everything is gone. it's definitely worth trying. it is an amazing product. any mac back to bloomberg daybreak: europe. i am dani burger. beijing accelerates the easing of public controls and turns its focus to growth. the number two economy sees trades a slump. u.s. stocks slide again as ceos from goldman sachs and bank of america sound the alarm overgrowth. asia shares went to a selloff. >> we are at a very uncertain time. we are changing monetary and economic conditions very quickly, and that is certainly having an impact on sliding down economic activity. i think you have to assume that we have some bubbly times ahead. we can see a recession

francine: simone foxman there fresh after that final win. in on stocks that are moving at the open. portia, this is a big story because for the first time porche has joined the dax index as plume has joined. it became the europe's most valuable automaker this year once market cap overtook volkswagen. the other one we are watching out for his adidas. on friday even before the world cup went rushing to get lionel messi jerseys, there was a bit of a shortage in supply. astrazeneca actually down some and 6/10 of a percent. that is if the european market open. surveillance early edition is up next. this is bloomberg. ♪ it's official, america. xfinity mobile is the fastest mobile service. and gives you unmatched savings with the best price for two lines of unlimited. only $30 a line per month. that means you could save hundreds a year over t-mobile, at&t and verizon. the fastest mobile service and major savings? can't argue with the facts. no wonder xfinity mobile is one of the fastest growing mobile services, now with over 5 million customers and

joining us is simone foxman, who has been covering in extensive detail and doing an incredible job. uld imagine the excitement is gathering as we ready -- get ready for the weekend. simone: there are a lot of argentine fans here. are way more people and qatar than there normally are. there have been hundreds of thousands more people in the country than there typically are and they were out and about, on the streets, wearing their team gear. it was very exciting. kriti: $300 billion in marketing costs when it comes to this world cup this time around. talk about the role of having the world cup be in qatar and what has made for the rest of the world. simone: when you think about it from qatar's perspective, they spent the money not just to throw a massive sporting event but to develop their country and build a metro system that didn't exist and build a new city, to expand the airport dramatically. by those standards, it showed to the world they can do this. they very much feel they have succeeded. what has been interesting for me to see over the past couple of days is how much the arab

thought is simone foxman. simone: good morning.as announced a ninth package of sanctions against russia. including restrictions on act as to drones, chemicals, and military technologies. the measures, which need the backing of all member states came hours after president putin warned that the threat of nuclear war in the world is rising. the russian leader says his country will defend itself, quote, with all means necessary. vanguard is leaving the world's largest climate finance alliance. the asset management giant says withdrawing from the net zero asset managers initiative was spearheaded by former b.o.e. govern -- governor. that will help provide the clarity are investors desire. the move comes as u.s. republicans continue to step up their threats against firms deemed hostile toward the fossil fuel industry. bloomberg has learned that banks which backed elon musk's twitter take over are considering providing him with new margin loans act by tesla stock. the loans are one of the options being discussed to ease the burden of the

let's get some of our top stories, with the first word news is simone foxman in doha. >> chinese authoritiese needs covid testing requirements in several major cities over the weekend. shanghai which saw a grueling two month lockdown earlier in the year has scrapped pcr testing requirements to enter then use such as parks, or to enter public transportation. the home to tech giant alibaba has also dropped testing to enter offices and supermarkets. sam bankman-fried says he will testify before the u.s. congress. the chair of the house financial services committee invited the founder of collapsed crypto exchange ftx to join the panel's hearing for next week. bateman says he will appear but only after he has finished quote, learning and reviewing the events that led to the implosion. he says that will --he is not sure that will be in time for the hearing. the uk's rail union has rejected an offer that would end the strike before christmas. it includes a pay rise of 4% including reforms to practices. rail workers who claim strikes on eight days in december and january grow a growing wave of worke

that's your first word news from simone foxman in doha manus: it is "daybreak europe" and i'm manus crannydubai with dani burger in london. dani: unexpected lease strong u.s. servicesata since stocks tumbling on concern the fed will need to keep hiking rates. asian shares fall. the reserve bank of australia raises its benchmark for an eighth consecutive month. plus, the u.s. and eu are said to be weighing joint tariffs on chinese steel and aluminum to fight admissions and global overcapacity. we have, as michael metcalf put it, rose tinted glasses on this market. some of this coming back at higher currencies like the korean won -- the korean won falling 2% in this session against the dollar. manus: that's because you had a shock and a jolt from the ism services data, but where is the terminal rate? those em currencies and asian currencies are reacting probably the most. there you go, there is your korean won against the dollar today, and of course, it's going to become aware is that terminal rate on the back of jobs data, ism data, and the wages? quick snapshot overall around the markets,

let's get more from simone foxman who is in doha. some of these upsets are actually moving markets. simone: we have seen the particular impact in several japanese stocks because japan not expected to win against spain. it was not expected to win against germany last week, and now it is due to the round of 16 in a difficult group where it knocks out germany, believe it or not. there's a couple of names we are really seeing impact. a pub operator, and we are also watching shares of an online streaming service broadcasting the games for free. finally, a maker of sporting equipment. we saw similar impact last week when japan met germany and came out ahead, but we are not seeing all the same shares moving today. all these names we are seeing move, they are small, so this is potentially a big driver for them, whereas some larger companies not going to see that impact. we will be watching very closely today if we see a similar impact in germany and belgium. rishaad: quickly, some of your key takeaways from the days you have been following all this. simone: mostly this has gone pretty well