sonali: welcome to bloomberg markets. i'm sonali basak. after the latest economic data shows the u.s. economy holding up while leaving room for the fed to cut rates. the s&p is higher but down on the week. interestingly, now we are losing a little bit of the bed. we are having most sectors in the s&p lower on the day. not too surpri

sonali: welcome to bloomberg markets. i'm sonali basak. the s&p 500 is slightly higher after the latest economic data shows the u.s. economy holding up while leaving room for the fed to cut rates. the s&p is higher but down on the week. interestingly, now we are losing a little bit of the bed. we are having most sectors in the s&p lower on the day. not too surprising. nasdaq 100 now .2% higher on the day. the two year yield hanging out around 391 on the day. a little movement there and on the 10 year now below 390 at 389 on the day. markets still largely on hold for economic data next week. mid-day movers on the equity side. we are hearing a lot about the consumer, starting with retail. lululemon and alter the beauty lowering sales outlooks. lululemon up about .2% to seeing increased competition and inflation hurt demand for yoga pants and the beauty affected more by u.s. consumers cutting back on makeup and cosmetics. higher pressures dampening demand. all still down 2.8%. that's a stock berkshire has recently gotten into. intel higher af

sonali: this is bloomberg markets and i am sonali basak.clients that nvidia is in a bubble land and it is skeptical of the ai high. take a look at trading volume, the blue line showing average volume. the white line is today. the bloomberg estimates 500 million shares traded by 4:00 p.m. we reported on all of this and i want to touch back on the note that elliott was saying. being kind of one to lean on the fear factor is not strange for paul singer and elliott. how did you read this? >> the report said that elliott came out here really being not unsurprisingly bearish on nvidia saying that he is skeptical that companies will still be relying on the processing units. he said the applications are not ready, ai is overhyped and it will not be cost-effective. it is not going to work right and will take up too much energy or bn trust rose. bold length -- or be untrustworthy. bold language and that is why the stock made up only a tiny portion of their portfolio. sonali: they were in it but is interesting to see that if they will get any to -- in

sonali: thank you so much.o switch now to talk more about the stock of the hour, taking a look at shares of kellanova. the shares are having its best day in 36 years on the heels m&a rumors. mars weighs expanding its candy and snacking empire with a buyout of kellanova. analysts are reacting positively to the news with one saying that a merger could boost valuations. both companies have declined to comment. joining us for more on this story is michelle davis, senior correspondent from the desk for us. you look at this kellanova deal, what are some of the implications? this company is newly stand alone, isn't it? >> kellanova completed its spinoff last year. it's been an underperformer among peers, the multiple is down compared to peers. but it has an outperforming on a sales perspective. some of the hurdles are, obviously antitrust. any time you have a big deal like this, it's guaranteed that regulators are going to want to take a look. analysts are saying that mars doesn't have too much overlap with kellanova

sonali: let us talk about market implications.ave seen significant moves over the last couple of weeks in the short and long end of the curve. where are the buying points right now given the rallies that we have seen, even when they are short-lived? ken: the last time that you and i spoke was on the 21st of june. and i recall that one of the other panelists was suggesting that a rate hike was still in the cards, which we discounted pretty hard. i think at this point, you have to say to yourself that if you have already waited to put money to work for the duration perspective you have missed out on a bunch of a. i think the market is anticipatory and we saw that weaker jobs data. in the market reacted quickly. the fed will still need to move and we do not think that that 25 basis points is the most likely one, not 50. it will have to continue over the course of the year. having said that, i agree that the market got ahead of itself thinking that we will see a substantial number of moves as the market might suggest. sonali: what doe

sonali: thank you for your time.e were talking about it so much more critical economic data ahead with tons of moves in the bond market. let us talk about the markets before we let you go. we have been talking about the rally. we have the s&p 500 up .6%. the nasdaq 100 is seeing similar vibes. they are up, but we are not hitting the records that wall street was hoping for this week. we are not even at session highs or where we were before the powell speak. -- powell speech. i am sonali basak, this does it for bloomberg markets. steak with us -- stick with us to the end of the day. this is bloomberg. ♪ and i had 20 grand of gold, a paper ain't going to make me any money. so i just bought it because it's my insurance policy. if you'd like to learn more about why physical gold should be an important part of your portfolio, pick up the phone and call to receive the complete guide to buying gold, which will provide you with important, never seen before facts you should know about making gold purchases u.s. money reserve i

sonali: i am sonali basak and this is bloomberg grill yield and that was austan goolsbee speaking withoments ago. with us is k her -- kay herr and steve brown. when you look at jp morgan they are in line with citigroup. a call for a 50 basis group cut with one in september and in november and another maybe before september. kay: i need to clarify i am from jp morgan asset management and you are referring to michael rowley. that is not where we are. i was struck by austan goolsbee's comment because i never thought about the similarities of federal reserve manager and portfolio manager. the sell side and markets will react to what -- to every single data point. if you think about what chairman powell said or what austan goolsbee just said they are looking at the through line at the overall data and we are doing the same thing. we are trying to manage portfolios and generate alpha and outperform here is. we are trying to focus on what is today's action and how do we respond. sonali: how do you see the conundrum, when you think about the moves in the market not just today but frankly this

scarlet: sonali: catch sonali's -- that does it for "bloomberg markets." 500 is up marginally at the moment here. the nasdaq is gaining even more ground, half of 1%. this is largely an advance being driven by technology. there isn't much move on the treasury curve. the 10 year yield holding below 3%. the yen is losing ground once again against all 16 major currencies. from new york, this is bloomberg. ♪ how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. announcer: from the world of politics to the world of business, this is "balance of power." ♪ live from washington, d.c. joe: kamala harris breathes new life into the debate over fed independence. welcome to the fastest show in politics is the vice president finds contest with donald trump on the role of the position player insider interest rates. we will talk about this coming up. i am joe mathieu alongside kitty in new york. we also ha

ibm + cdw sonali: i'm sonali basak and

sonali basak, our expert on all things private markets. appreciate it.to give a quick check on public markets. you look at the public markets and we have a recovery underway. you have the s&p 500 up at session highs at the moment gaining 2%. the nasdaq comp advancing to its best levels of the day gaining 2.2%. when you look at which groups are leading the advance, it is all 11 groups. they are up by at least 1%. technology which has felt the most pressure the last three days is leading the way up 2.8%. reit's which have been beneficiaries of the idea the rates start coming down are the second best performers laggards on the day, energy, health care and materials. this is bloomberg. ♪ with so much entertainment out there wouldn't it be great... ...if you could find what you want, all in one place? show me paris. xfinity internet customers can enjoy the ultimate entertainment experience and save on some of the biggest names in streaming, all for just $15 a month. get the fastest connection to paris with xfinity. >> from the world of politics to the world o

sonali: you had cz step down in the wake of that plea deal.s here assigned to them from the u.s. apartment of justice and also through the treasury's financial crowds enforcement network. what he did not say to us is whether he met with the sec here as well who is suing binance. this $200 million figure is an increase over the last couple of years and he told us he expects to increase that figure more and of the thousand people he's hired in the past year, more than 500 are solely dedicated to compliance and regulatory matters. that number will go up to about 700. hundreds being hired for compliance so when it comes to the goals binance has, compliance is among them. they are also privately held and cz is a major shareholder page you can look at coinbase stock and know how well they are doing in the crypto boom. how much is 200 million compared to what they've done this year. they want to clear up these compliance issues they are seeking to grow around the world. we don't understand quite what their strategy will be in the u.s. but the complia

sonali: the market broadly. have bitcoin and other assets, top 100 digital assets dropped to the worst level since november of 2022. the dnc gets started. there are a lot of questions about whether the harris administration would be tough on bitcoin. interesting days ahead. caroline: such a pro. that is exactly what we are talking next, the dnc in chicago. this is bloomberg technology. ♪ caroline: welcome back to bloomberg technology. ed: i'm ed ludlow in san francisco. caroline: let's talk about the dnc as kamala harris is gaining momentum. republicans are looking to attack her economic agenda. kailey leinz is there. i'm interested as we think about from a tech perspective and more broadly what are we generally waiting to hear from the dnc? kailey: this is certainly going to be defined by energy and enthusiasm as the democratic party has been reinvigorated by the candidacy of kamala harris. four weeks ago, president biden decided to no longer seek reelection and she became the democratic nominee. that is offici

sonali: a few things.e, looking at the third day of declines in the s&p 500, and in the nasdaq 100, it is the third day of declines of more than 2%. friday, you saw the nasdaq 100 flirt with the correction territory. over the weekend into today, you saw the asian trade just really, really sell through the ground here. you saw historic moves in japanese equities, for example. and what you saw was an unwinding of a global carry trade. this is what investors are borrowing under cheap currency and really plowing those assets now into higher-yielding and u.s. assets, particularly stocks in this instance, which is why you are seeing the unwinding now. the question is how far does the unwind really go? on top of that, there are very few places to hide. to your point, bitcoin flirting with $55,000, had fallen below $50,000. use our gold dropping this morning and oil dropping you saw gold -- you saw gold dropping this morning and oil dropping as well. the ism data give a little bit of a sigh of relief. the severe b

sonali: i'm sonali basak. katie: i am katie greifeld.est starts right now. ♪ sonali: we are in waiting mode. investors looking ahead to jackson hole later this week for clues on the policy path ahead. matt: a record offer for the owner of 7-eleven and what

sonali: bloomberg real yield starts right now. coming up, powell's big pivot.

." ♪ >> live from bloomberg's world headquarters in new york, i'm sonali basak.rg crypto. >> coming up, bitcoin is holding above the $60,000 level after the fed signals the beginning of rate cuts. ether is lacking despite the new etf's. tim: a token from a blockchain project

sonali: live from bloomberg's world headquarters in new york i'm katie. tim: i'm tim stenovec.he world of crypto. >> crypto recovers after week of global volatilities into risk assets into a tailspin. tim: in just a moment, we are going to speak about all of this volatility with leah ward now in charge of the firm cypherpunk. >> we'll dive into how institutional and retail investors are behaving with

sonali: and i'm sonali basak. matt miller is off today, and bloomberg "open interest" starts now.

sonali: i am sonali basak. bloomberg "open interest" starts right now. matt: coming up, u.s. morgan analyses a 35% chance the economy enters a recession this year. the firm says three quarters of the global carry trade has now been unwound. plenty of news on

sonali: i am sonali basak. katie greifeld is off today as we start "bloomberg open interest."await key data which will shed light on the health of the u.s. economy and inflation and help us design and outlook. meanwhile, inflation still bases up

sonali: i am sonali basak. matt miller is off today.underway. the world's most valuable chipmaker reports after the bell this afternoon. investors betting another blowout quarter. tonight, nvidia's ceo joins ed ludlow for a special edition of bloomberg technology. don't miss that extrusive sit-down at 6:30 p.m. eastern. also keeping an eye on retail.

. >> and i'm sonali basak. "bloomberg open interest" starts right now.e biggest deals of the year. mars scoops up snack maker for $36 billion.

. >> i'm sonali basak. >> and i am katie greifeld. "bloomberg open interest" starts right now.longest winning streak this year on bets that the fed will signal it is ready to cut rates but the rally may stop. matt: fresh insight on the consumer as more earnings role in. lowes

sonali: matt miller is off today. bloomberg open interest starts right now. cutting in september. intel explores its options. t

sonali: bloomberg open interest starts right now.

sonali: we will talk about that tale of two retailers.s macy's cuts its forecast. matt: ford raining and the cv spending, canceling plans

. >> and i'm sonali basak. open interest starts right now.ed to apple and amazon, who report after the bell today. details on how bill ackman ipo dream imploded.

sonali: stocks are getting a boost from the latest jobless claims report.orrow. katie: from peloton'

. ♪ sonali: a manic monday for markets.rop and than four years. matt: japanese stocks at their worst day since 1987 with the topics and the nikkei entering the bear markets while the yen searches on the unwinding of carry trade's. katie: goldman economists raise their odds for u.s. recession in t

sonali: matt miller is off this week.for nvidia earnings and further clarity on the ai boom. a heavy slate of eco data adding to the wait and see mode.

. ♪ sonali: coming up, an abrupt shakeup at starbucks, surging after naming brian nickel is a new ceoecast, underscoring the moderation and inflationary pressures. katie: mike wilson warns of a challenging road ahead for stocks. he joins

sonali: katie greifeld is off today.or the kamala harris campaign. cnn reports she's tapped medicine to go to -- minnesota governor tim walz as a running mate. global stocks stabilize for now as some investors brace for more volatility after monday's massive selloff. earnings abound for caterpillar. sale ms. for the billion-dollar lifeline -- miss for the billion-dollar lifeline. as you can see we have a little bit of a bounce back. it is fairly