i'm taylor riggs.nflation pressures -- we saw this this morning, and increasing pressures from the delta variant are hampering the recovery from businesses across the u.s. this is according to a new survey from goldman sachs. for more, let's welcome joe wall , the national director for 10,000 small businesses voices. let's also welcome our own sonali basak. >> joe, you cited this issue about inflationary pressures. which specific inflationary pressures are you seeing impact these small businesses more than others? >> thank you for having us on. as we look across the data, cross industries, we are not seeing a lot of fluctuation that you would see in construction, manufacturing, retail, hospitality. that is where we have the highest level of inflation. dating back to june, over the last three months, 81% of small businesses say inflationary pressures have intensified for them. in terms of the impact to their financials, three quarters say it is impacting their financial health. we are seeing it across t

taylor riggs in new york. alix steel is off today. i'm sure it feels like a monday. welcome back, america. taylor: thank you. of course, it is a back to work feeling here on this tuesday. we are coming off at jobs report on friday. we are trying to get a hint of this reflationary trade that is underway. maybe some of the safe havens within the technology sector, which is a relative underperformer today. you are still trying to eke out some green. you want to talk about a reflationary trade, 1.37. certainly something as you think about breaking through on a higher yield day for the 10 year yield. should we do it> ? bitcoin 50,000. i hear el salvador making it legal tender for their country. guy: you would have thought it would have gone up on a day that a country decided it is legal tender. i'm not sure it is a good marker that it actually goes down. we will talk about that later. on the u.s. 10 year, i think the correlation between the weekly vaccination rate in the u.s. 10 year is worth paying attention to. you guys are back at work. labor day was meant to be this ma

. >> i am taylor riggs. >> the cowboys are taking on the brady bucaneers. major sporting events are drawing more viewers, ratings are still down significantly from pre-pandemic times. nba playoff viewership is down 18%. the tv viewership down. there is a re-think of advertising. the espn chairman was on bloomberg earlier today and he made it clear that it is less about attracting fans in the traditional sense and more about the leap to broadcast networks following the fans to where they want to be. >> hourly partners are really embracing sports betting. more and more americans are able to participate now and from our perspective, it is really natural for espn to do the same. our mission is to serve the sports fan anytime, anywhere. that includes the sports betting fan. sports betting has been a strong and vibrant part of our offering for a while now. we had sportscenter themed segments. we had dedicated areas within our website. podcasts, regular and recurring shows like daily wage or, we have -- they have a better studio in las vegas. we struck a partnersh

sonali: taylor riggs is off today.aroline: stocks soaring almost 30% after reporting -- the company is part of a by now, pay later universe that is completely taking off. these finance programs are our focus today. americans spent almost $25 billion in these services, and we know cinelli -- we know sonali was one of them. the firm making deals here, there, and everywhere. romaine: we've been talking about this company. it is just on fire. after the initial ipo, you saw it kind of flatline a little bit over some concern about the business model and the fact they were tethered to just one big customer, that was peloton at the time, were 25% of its revenue. the news about its partnership with amazon, and then it came out with earnings here. it is basically guiding to something like 12.5 billion dollars to $13 billion going forward. this is a legitimate business. a lot of consumers are using this as the primary way to sort of buy things, not just because they need the lending power, the borrowing power to do it, but why no

taylor: i'm taylor riggs. joe: and i'm sonali basak. caroline hyde is off today. romaine: since the first electronic goods have emerged in the 1950's, buyers kept them going by repairing them, certain parts themselves. there was a whole subset of an economy centered around this idea. remember radioshack? nowadays, try to repair these things on your own, it is now a costly and cumbersome, if not a completely impossible endeavor. it avoids warranties, violates user agreements, and may even land you in court. the hurdles that manufacturers have set up has stoped a lot of frustration and now, there is demand from consumers for the right to repair what they bought and supposedly what they own. companies argue allowing anyone unfettered access to the innards of their machine and the computer code would expose industry siege ritz and put the safety and security and security of customers themselves at risk. two accountants turned entrepreneurs, one at mcdonald's and thousands of ice cream machines that always seem to be out of order. a company be called kitsch would alert

taylor: i'm taylor riggs. romaine: same supply chain issues, conveys around the world turned to fight bottlenecks we have been talking about in the supply chain globally, in the u.s. rising backlogs, europe rising to unprecedented levels. in asia, being compounded by one of the world's worst covid outbreaks. we are going to dig into those disruptions and in particular how the trucking industry is handling them we want to start with the new round of data which painted a picture. taylor: we have broken out by some individual countries because it is telling us a very interesting story. all below 50 which we know is the dividing line between expansion and contraction. vietnam, malaysia, thailand, philippines. south korea and taiwan, those pmi's remain over, watch production in semis and autos so we did get the china that sector and manufacturing dipped below 50 to 42. you are seeing some effects of the slowdown. all of this and more with our economy reporter olivia roffman. what can you drop -- gleaned from the da

taylor: i'm taylor riggs. caroline is off today.omaine: a new report causing uncertainty over the fed timeline for tapering. all the sectors, restaurants, health care, government workers. >> this was a lower number. >> weaker report. >> this has delta variant on it, coming out of a worldwide pandemic. >> one huge red flag for me. >> the hospitality number in the restaurant number. >> almost zero gain this month in that area. >> you will get bounced back in september. the market is looking through this in saying this is temporary. >> the fed is going to taper. >> the market pushing back to any taper announcement until december. >> and the emphasis that tapering is not tightening. taylor: what a world of voices we have had pretty much all day long. we continue with another great voice. joining us with her reaction, economic policy institute senior economist elise gould. i am stunned by what everyone was highlighting their about leisure and hospitality, really no movement. is this a one-time blip, or can this be sustained? elise: it wo

sonali: i'm sonali basak taylor riggs is off today. romaine: we are getting inflation reads from the world's biggest economies, france, germany, the u.k., and the u.s. rising prices it has been a concern not for policymakers and investors, but parts of the population affected by it most. gas and groceries and supplies. these are inflation issues. they are more than just transitory. they are getting people when they are least able to withstand the impact. we will take a closer look at this issue and some of the issues of growing inequality in our economy. and how some of the financial crises and the solutions to the financial crises exasperates wealth cap. there was an interesting report out the san francisco president mary daly going back to 1990 to see what it tells us about inequality. they were able to pin a number on it. caroline a survivor joins us now, bloomberg economic reporter. what were they able to quantify? >> $23 trillion, which obviously is a huge number, about the size of the u.s. economy every year. caroline: $23 trilli

taylor: i am taylor riggs. sonali: i am sonali basak. romaine: china banning all cryptocurrency transactions, making them illegal. the toughest blow we have heard out of china for the industry. kind of expanding some of the language we have heard before but a lot tougher. the move is to wipe out as much as billions in the market with digital assets out there, and, today we are going to focus on the crackdown that shook up certain assets. it may not have been a massive deviation, but it raises questions about what china's role is going to be in the crypto space. taylor: i think this is a really good graphic that breaks down everything that we learned. we have china banning the crypto related transactions. they cannot circulate on the market, and then offshore exchanges will be banned from some crypto services, so you also saw this in the price action stalling this with bitcoin, ethereum, the galaxy index, you name it. what was interesting, we have been talking about volatility. it was less than a 1% standard deviation move. the volatility

we will get to all that in a moment, but first, let's get a look at the market our own taylor riggs. we cannot talk about what happened in the markets today without talking about crypto. taylor: i know. i feel like i was the sell signal for crypto early this morning. so interesting. we came in this morning and it felt like a reflationary trade all over again, but all of that reverses. you saw some movement in big tech continuing that safe haven theme, let in part by apple and amazon and some of those traditional safe haven sectors. that was really what was holding up the market today. in the terminal, you see that divergence between the nasdaq that was leading gains versus the russell 2000 and they divergence out of that reflationary/inflationary theme, so that really sets us up for what was a pretty good day in technology, until we get to bitcoin, and this is where i leave you. take a look at not only the cryptocurrency -- bitcoin is up .3%, and that number should be down 10%. it opened the market this morning above 50,000. trying to hold onto $47,000. everything else falling in symp

i know taylor riggs preparing a data-driven close as well. we will see if we can find a bid.global wall street's attention to an interview with michael wilson of morgan stanley, their chief u.s. equity strategist. i believe that is slotted for 9:40. lisa: i think so. tom: this is bloomberg. stay with us on this day of market tumult. ♪ (announcer) the core is key to losing weight, getting back in shape, and feeling good. introducing the aero trainer, designed to strengthen your core, flatten your stomach, and relieve stress and back pain. it conforms to your body and increases muscle activity. abs, back, obliques, hips, and glutes. get incredible results in just five to ten minutes a day. the aero trainer supports over 500 pounds, and inflates and deflates in seconds. check it out at aerotrainer.com. - [announcer] imagine having fuller, thicker, that's a-e-r-o trainer.com. more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personali

let's get a look at them markets first with taylor riggs. we can talk about the markets without talking about crypto. take it away. taylor: i feel like i was the cell signal earlier this morning. let's talk about where we are in of the major indices. we felt like it reflationary trade all over again, but all of that reversed. you saw some movement back into big tech, which has traditionally been the safe haven theme, really in part led by apple and amazon and some of those traditional safe haven sectors. if you change up the board, you see in the terminal chart we have in the terminal that really divergence between the nasdaq that was leading the gains and the divergence out of that reflationary, inflationary theme. that really sets us up for what was a pretty good day for technology. until of course we get to bitcoin and this is where i leave you. take a look at not only the cryptocurrency, bitcoin, that number really should be down 10%. that opened up the market this morning at above 50,000. take a look at what has happened. we plunged. we

taylor riggs is in new york. alix has the day off. look forward to the president's comments at 5:00 p.m. today. taylor: take a look at where we are in the markets today, trying to rebound from what had been three straight days of losses within the s&p 500. the russell 2000 looking at almost four straight days of losses, but we reverse that with the opening bell and try to push higher on this reflationary trade, all despite a bond market at least here in the u.s. that seems to be unchanged on the day. a very calm, well-behaved on .95% -- well behaved 1.95%. all while we are continuing to see a lot of activity going on within the energy markets. now crude off of some of the headlines we are getting from china. we are going to dig into all of that. but as you mentioned, some of the main headlines this morning all coming off of the ecb. they are going to be slowing down the pace of that pandemic bond buying program. it is an encouraging nod to the strength in the euros in recovery. here's the ecb's christine lagarde earlier. ms. lagarde: