u.s. big tech u.s. e concerns about some slowdowns, some regulation, but in china, you're also adding these other concerns about lockdown impact, political concerns, and then in addition the ability to possibly be delisted from the u.s. and so unless you have a really inexpensive stock, which alibaba, by the way, is, u.s. big tech looks better. apple at 22 times earnings, microsoft at 26 times earnings looks better to me than anything in china alibaba starts being interesting because they're trading at 9 times ebitda in spite of the fact that they lost 50 billion rmb on their ancillary businesses if you take those up, they're cheaper than ebay. that's when it starts being interesting. >> do you think on the u.s. side we have discounted -- investors have discounted the worst case scenario for technology? as you take a look, your concern about the chinese economy is the economic slowdown. here in the united states we're entering a rising interest rate period there is a move away from long duration and so,

european markets with a turn around and wall street looks to follow suit after the u.s. tech losses top $1 trillion. >>> sony's quarterly operating profit more than doubles as gaming revenue jumps nintendo warns sales of the switch console will fall this year >>> tough times for tesla as the electric vehicle maker halts production in shanghai >>> france confirms emmanuel macron will hold talks with the hungarian prime minister today as they attempt to strike a deal on banning russian oil imports >>> nintendo says it expects to sell 21 million of the popular switch consoles this year. a 9% decline the japanese video game maker lower ed outlook for software sales. very excited to say that argen has been joining out on the set. this was an exciting year after they went after microsoft-activision what do we hear? >> demand is remaining strong. we are seeing that with sony's gaming division continuing to grow one thing to know is the first quarter of the year, playstation 5 sales dropped versus the holiday period they managed to sell 5.1 million units. it is forecasting 18 million

francine: u.s. tech stocks have been all over the place.y going to continue to see that volatility? marko: you have a sort of mega context at the top of the index, which only sought moderate corrections of our. on the others, you have high data tech, it is done 70%, 80%. given all the uncertainty, we prefer stock that is big on yields, you could see a type rally. [indiscernible] francine: is there a piece of the consumer you worry about? my comes to inflation, is there something aggregate -- when it comes to inflation, is there an aggregate? marko: there warning signs. the price of gas, price of food mortgage rates. the good news is, the labor market is very strong and we are reopening. keep in mind, consumer have been locked up for two years. yes, prices are higher, are you really going to look for things a little more expensive, we could do the tension between inflation and on the other side of the break market is healthy and healthy demand. francine: thank you so much, talking about opposing forces. cohead of global research for j.p. mor

scenario, not something i'm thinking about as a base case, but if we see substantial outflows out of u.s. tech, u.s. stocks more generally into maybe european value, u.k. value, that could be something that challenges our dollar narrative over the next six month or so. kriti: so the dollar bullish narrative, technically speaking, you are heading against levels we have seen in march 2020, novels and 2016 before that. how much strong or does the dollar get from here? erik: what is interesting, if you look at the positioning in euro and frankly a lot of these pairs, it is not stretched to the point where i am worried about a positioning-based reversal. looking back in 2018, everyone was short and euro. even the dollar yen, positioning a stretch but not an extreme or all-time high. so levels like friendly parity on euro-dollar by the end of the year, to me is as a very realistic proposition and once we see some of the washout in dollar-yen positioning, it could see a renewed trend higher in that toward 135-140 by the end of the year. kriti: christopher kane and erik nelson, thank you both for your

you say some companies might be interested in u.s. tech, what are you talking about? well, you know, we want to focus on the companies that are generating i would say cash flows that have strong balance sheet opposed to the tech companies that are just promises for the future. clearly the one that are promises for the future are much more affected by the rate hike. some good earnings and good results. dani: i take it -- i take it you're not a buyer of art then? >> no. dani: it is an even the. it is an e.t.f.we had conversate past month that it is difficult to be an investor who buys on the index level. is this a market where you need to be more discerning? you can't have that broad based exposure? >> absolutely. i totally agree with that comment, dani. i think it is very important in the current context to be an active stock selector. as said, we want to focus on two things, value and quality. that is what we are considering that works well in the stock market environment. we are focusing on companies that have strong balance sheets, generate cash flow and are in sect

what about u.s. tech specifically, rupert where do we stand and how do they fit in the choppy narrative for the months ahead >> tech is, in a way, a poster child of the growth stock which has gotten smashed over the last few months essentially this rotation away from growth into the cheaper value areas of the market have more to run which means this is not yet the time to dive back into tech. having said that, some of the most egregious overvaluation in the tech area has not been corrected. is it a straight line down for tech no will it be choppy from here? are you getting to bottom? possibly i would not jump in just yet. >> we had been seeing europe out performing for the reasons you cited. the big growth exposure in the u.s. falling out of favor. last week, we saw under performance in europe as u.s. stocks caught up what is the trend you are expecting for the months ahead >> we are slightly surprised europe, as it were, has regained a lot of the under performance you saw earlier in the year. actually, t

a lot of the rally that we saw in global equities, u.s., tech stocks, since the global financial crisiss helped in large part by low interest rates. that allow the rise of tech companies, all of these venture capital private markets. it made it much easier. now we got a taste of what happens when the fed raises rates, now we are getting another taste of that when they are ratcheting rates at a higher level. that valuation could compress a lot more than even what we saw before the covid period. guy: should i just at one out? everyone keeps telling me that you have to be invested because you are worried about inflation, your money will take a hit. i'm looking at the equity market, looking at the bond market that is cratering. do i need to be invested here? bilal: exactly. my overall point when i speak to investors, friends and family, in this environment, cash is king. even though the money you have in your bank will not earn much interest, at least it is there, will not collapse in value. of course, the bank could collapse in value. it is all about preservation of capital, you don't want

years, as it did in 2000 this bubble, superficialy, anyway, looks very much like 2000 focussed on u.s. tech, led by nasdaq, going to incredible highs. with the opening weakness in nasdaq, which started to fall along with the russell 2,000 long before the s&p it did exactly like 2000. what i fear is that there are a couple of differences with 2000 that are more serious. one of them is that 2000 was exclusively in u.s. stock. the bonds were great, the yields were terrific. housing was cheap. commodities were well behaved. in comparison, it was paradise what you'd never want to do in a bubble is mess with housing. and we're sell issing at a higher multiple of family income than we did at the top of the so-called housing bubble of 2006 in addition, the bond market recently had the lowest lows in the history of man in 6,000 years of history. in addition, energy has pushed up metal and food prices are actually on the u.n. index higher than they have ever been before in real time so, we eare really messing with all of the assets and this has turned out historically to be very dangerous in japan th

u.s.? hong kong tech did not do very well in the u.s. session.s did well, but were looking at european stocks futures index moving higher .2%. also looking at s&p 500 futures, losing the steam of that bear market bounce yesterday, down about .25%. let's turn our attention to commodities, specifically stock commodities. global food cost are poised to climb even further with drought, floods, and heat waves threatening production. this as the same time russia's invasion of ukraine throttles the grain supply. how severe is the weather disruption for the soft commodities? >> it's pretty bad, actually. 2008-2012 for the last periods when we had global supply demands of this type. we have shot factors in terms of supply-side, and where do you go . you want to go there, there is a war. you go here, there's a flood or a drought. the exporting producers are struggling to produce enough crop. they are suffering from the ability to increase yield. i think inflation is here to stay for a while. manus: do you think we have quite grasped how severe the restrict

investment in greece where several u.s. tech and renewable energy companies have made significant investments. the president and first lady, jill biden, will then host the prime minister and his wife for a reception honoring the conclusion of the greece bicentennial year on march 25. also today, the administration announced an action plan to ease the burden of housing costs, taking a series of actions to address one of the largest items in a typical family's budget and one of the largest drivers of inflation in our economy. as president, biden has said tackling inflation is his top economic priority. the best thing we can do to ease the burden of housing cost is to boost the supply of quality housing, including building more new homes and preserving existing federal support and market rate affordable housing. today's action plan includes legislative and administrative actions that will help close america's housing supply shortfalls in five years, starting with the creation of preservation of hundreds of thousands of affordable h

we saw the big fall in u.s. tech in particular and that will be denting sentiment.lso seeing the big fall in the agriculture sub index. seeing pressure when it comes to commodities. the biggest gains we saw in food prices in more than two months. wheat is a major story driving that side of the inflation picture. take a look at asx futures. a gain of about 0.2% going to the start of trading. the 10-year yield is holding pretty steady but we are seeing stagflation or a risk -- stagflationary risks. this idea that perhaps yields have hit a peak and there is a role for government bonds play as a hedge against the risk from risk assets like equities. . new zealand is to the upside. west bank coming out with a call that we will see a hike from the rbnz in the next three meetings. taking that to 2% by their may meeting. dollar-yen starting to creep up a little more now, we are seeing that 1.30 level again. kathleen: now let's take a look at u.s. stocks. you can see here, the s&p futures are showing him bounce. s&p futures were down 0.4% at the close. megacaps text like ama

u.s. china tech. good to see you., restricted much of my fave and put up fences in front of some of the buildings. >> the effectiveness is that the society is close to the breaking point. it's not just the banging of the pots and pans. we've seen people commit suicide that infamous murder suicide. it is fascinating, though, reported no covid cases outside of quarantine area speared there has been no relax of this covid control measures. right now, beijing is basically saying you've got to keep the city locked down as tight as ever. >> how long do you think that will go? >> you know, i have been consistently wrong on that because i thought they would relax a lot earlier than they have. right now there is very little sign that they are going to relax. basically, well after the labor day holiday which is now ongoing. this is a time when the chinese people are supposed to spend to keep the economy going. consumption is supposed to be the main driver of china these days. they are complying to their apartments or compounds.

u.s.-china tech war."to start with the comedy for the president make when he was sitting next to the prime minister of india. what the press was chatting him is, would you push a tougher stance on russia? did you ask the prime minister to wean himself off russian oil? i think that is something that certainly the president of ukraine would want to know as well as many other u.s. allies. he responded saying, "welcome to the american press." what do you make of that comment from the president? >> i think president biden understands that india and russia are very close, and they are two reasons for that. one of them is their traditional relationship that goes back to the cold war, but the other thing, carley, that americans don't focus on, that is the chaotic withdrawal from afghanistan last year severely delegitimized america's friends in new delhi, because new delhi was a strong supporter of the afghan government. that means that the pro-russia elements in new delhi really have become much more influential r

u.s. takes aim at xi jinping promising to influence china's behavior by shaping the world around. haidi:haidi: a risk on mood on wall street. shery: broadcom steals one of the biggest tech deals in history with the acquisition of vmware. u.s. futures under pressure after the s&p 500 extended gains. we have solid retail earnings and falling mortgage rates boosting sentiment. dollar general forecasting better performance later this year. we have two stocks soaring. what a relief from last week when we had walmart and target. treasuries mixed. the dollar consolidating around april lows. we continue to hold onto a little bit of gains. u.s. fuel stockpiles tightened so that helped prices. it's what was happening around chinese earnings boosting the broader market. the golden dragon index gaining more than 7%. the biggest day in over two weeks. alibaba gained 15%, the biggest day in over two months given that the revenue and profit also beat estimates. a similar picture for baidu. haidi: could this be the turnaround for chinese tech? when it comes to the start of australian trading, the upside around 1% will make it to the cash trading session looking to reverse the previous

u.s. senate. >>> tech is one of the worst performers so far this year.prits could be venture capitalists according to our next guest let's bring in bradley tusk. bradley, great to have you with us. >> thanks for having me. >> where was the error made in terms of venture capitalists calculations they were too optimistic about these companies? they didn't stress test these companies enough bad timing where was the error? >> the answer is going to shock you, but it's actually greed, which pretty much drives every bad decision we see most of the time look, here's the problem because institutional investors were willing to allocate a lot more money to venture capital, vcs kept raising bigger and bigger funds 2% of a much bigger fund gets you more than 2% of a smaller fund but you can't write a $2 million check. you've got to write a $20 million check to make it work. you can't put a $20 million check into a small company so the valuation has to be a lot higher to justify it in order for people to justify chasing higher management fees every single year, fund

but we could continue to see the downside when it comes to asia tech as well follow the u.s. selloff. the golden dragon index putting downside pressure on, when china and hong kong come online later. rent crude holding steady, shy of $111 a barrel. let's rake down the big market moves with our bloomberg cross asset reporter. what is most interesting to you right now in terms of volatility? emily: one of the most interesting moves to me is the amount stocks and bonds were both selling off on thursday. cross asset reporters on bloomberg work comparing an etf that tracks a broad basket of eat -- of u.s. equities and another basket that track -- the tracks 20 year treasury bonds and both fell 2% in trading in new york. that has only happened three other times in the last 20 years. so, really historic losses in those equities and in bonds as those treasury yields rise across the curve. we saw big moves on the backend of the curve on thursday as well. shery: is this a situation where the market misread the fed is we had that policy meeting and now, they are saying, that was actuall

has been dealt a major blow receiving support from administration involves reallocation of profits u.s. techg change bringing the global minimum corporate tax rate the to 15% oecd secretary-general in davos difficulty discussions taking place we set a very ambitious deadline for implementation to keep pressure on probably a practical implementation from 2024 on ward focus on taxation in davos economy theme talking about billionaire investor david rubenstein's comments quite interesting doesn't think detail has legs shared a checkey comment he said that tax aavoidance main in have life not necessarily convincing everyone in davos, on the ground in davos i seem to remember 2017 tax cut dagen, actually created a better economic outcome than anything we're seeing now the bottom earners wages higher than top earners. dagen: poverty rate lowest in decades record lows for many she mentioned mark russlo, at least he does walk his talk, talk his walk, but he has been against fracking, opposed to the production of natural gas. so thank you for that, for helping, foment a food shortage around the globe

u.s. stocks in the s&p down. nasdaq 100 futures looking like we will see a bit more of a recovery as well. we are expecting to see asian techfollowing their u.s. peers, impacted by the selloff across tech, some of these very growthy sections of the market in particular. take a look at we are seeing in the terms of the aussie bond market, the drop in yields continuing, the 10 year yield dropping seven basis points just shy of three and a half percent, we are seeing the three year yield falling 11 more, 10 basis points just shy of 2.93. in particular when it comes to the front end of the bell curve, the most out of the all of them, in fact that curve steepening that we could see in the australian session today, that wrap -- that gap between five and 30's heading its widest sense of march. coming up we be speaking to the hong kong deputy about incoming leader who has bowed to boelter national security and accelerate integration with mail and china -- mainland china. we get the indications for the market just ahead. that does it for "daybreak: australia", daybreak asia is next. this is bloomberg. ♪ what's it like having xfinity

u.s. watching tech related stocks.ing the risk appetite to the downside for some of these riskier asset classes and asset names, that selloff has not abated quite yet. lots more to come. this is bloomberg. ♪ haidi: rude getting the new shanghai daily cases, we have one new community transmission case outside of quarantine. we have two days where we had zero new outside of quarantine cases there. shanghai officially easing the lockdown, but that year of punishment, neighborhood committees, still pretty strict restrictions. also for the restrictions when it comes from impact from corporate. toyota suspending production caused by the lockdown and some of the supply chain bottlenecks that look like they could persist even as the city slowly begins to reopen. we're watching the situation in beijing where authorities are shifting their focus, and there's lots of concern about what's going on with these forced home disinfection's and the possibility of more restrictions in the nation's capital. shery: here's a quick check of

u.s. listed chinese tech companies having a great day tuesday.hina painting a much more positive picture, signs that covid restrictions are easing. alibaba and jd.com both showing gains throughout tuesday's session. a very quick programming note, we got news after that the parent company of facebook will change its ticker do nine, premarket from fb to m eta. just one for the calendar. emily: we have been waiting for that. i want to stick with the markets and specifically talk tech with michael wolf of activate. always good to have you with us. what do you think all the fuss is about? we saw the ups, the downs, then we are back where we started? >> part of this reflects that investors are concerned the growth rates are slowing. it as -- it is not as if these businesses are growing quickly and yes, they are concerned about rates but to a large extent, this is a correction. not a bubble bursting. when people keep making this comparison to 1999-2000 and they are saying oh, it's another wave of this. in reality, we have companies that have real profit

futures looking at gains of .8% for the tech heavy nasdaq. the u.s. two-year 2.51, 83 basis point move after significant moves into treasuries yesterday as that shelter for havens on recession risks, you had that weaker data coming out from the richmond fed in terms of concerns around consumer or business sentiment, and home sales as well. euro-dollar 1.06, down by .4%. bitcoin as a gauge of risk sentiment, currently below 30,000. oil is gaining today after suggestions of reports around [indiscernible] decreasing stateside for the summer driving season. pfizer the drugmaker behind the mrna vaccine saying they will sell branded drugs at cost to low income countries, that is the announcement around branded drugs. they are going to start with a small number of countries, then expand over time. we will get more when that comes through. let's get over to our mliv energy editor, mark. mark: i'm looking at the bloomberg u.s. economic surprise which plunged yesterday into negative territory. that's why this week we are focused on the stagflation area theme ta

u.s. chinese tech stocks jumping. treasury yields climbed in the new york session. the curve flattened after chair powell's remarks. we are watching food -- crude prices as well. they are rebounding in the asian session. they fell after the government in the u.s. announced plans to ease sanctions on venezuelan oil. all these market gyrations have affected emerging economies a lot given inflation pressures with msci emerging markets falling. latin american markets have done resiliently this year. it we will continue to see what happens as we are live in panama city. this is bloomberg's new economy gateway latin america. we will be speaking with our next guest, president mauricio claver-carone. we will talk about the opportunities as we see commodities prices surge. you're talking about big exporters of grains and critical minerals as well. haidi: investors have been weighing that resilient april retail sales data. those comments from fed officials including jay powell on the rate hike plans. let's bring in our global economics and policy editor kathleen hays. charles

. >> jennifer jolly, syndicated tech live column u.s. joins us for our new "tech tuesday" segment.rning, happy "tech tuesday." i have show-and-tell of some of the latest gadget's i've been playing around with here.et'sta ofews bye, pod. after more than two decades apple's ipod is going bye-bye for good. apple's officially saying good-bye to the gadget that started an entire it's phasing out production of its ipod touch, bringing it into a two decade's long run. you can get them online while supplies last or sell an oldie but goody and make some cold, hard cash. the most value ub are the first generation, a piece of apple history and the final two generations which are still usable today if they're still in their original packaging. you can score as much as $1,000. cha-ching. >>> on to google, no more glass holes at google's io conference last week, the qualify showed off its latest glasses prototype and they actually do something really awesome. they translate languages into real time and display text on their lenses. the glasses take advantage of the company's translation and tran

u.s. listed chinese tech stocks doing well on the day and twitter up to a half percent after a scoop reported by myself and kurt wagner that there are more departures of the company ahead of an elon musk takeover. taylor: love it. thank you so much. for keeping us up-to-date on the markets news that we wanted to hear about. and that really actually kicks us off nicely with our next conversation. i am so pleased that natosha lam, you know her as the managing partner at energy net capital base just outside of boston here with me on the set. it is so fun to see you in person. what we were just showing is big tech selloff. a huge volatility we've had markets. what are you hearing about some of the jitters going on within the tech markets right now? natasha: thank you, it's nice to be here, nice to be in person. well, i think the tech sector is facing two big headwinds. one is just an upcoming slowdown in economic growth, along with inflation. if you look historically during those times, but as the tech sector that gets hit the hardest. so that is a big piece. and the other part is interest rates.

yes, multinationals and i would be cautious on china and i would be more u.s., mid to late u.s., and buying techaten down significantly on fixed income. >> do you think we're going into recession? how do you balance that concern against inflation? >> you, i don't think it's quite as much of a certainty as was just suggested by an earlier guest. i think there's sort of of a coin toss right now, a 50/50 toss it really depends on how fast the fed raises rates i just don't see right now the obvious warning signs that we'll go interest as you referenced a classic, a classically defined recession. we could have a significant slowdown and inflation, not stagflation, but slow growth inflation. recession i don't see right now and we're still looking at the tea leaves and right now, i don't think it's likely. i think it's a coin toss do investors need to stay out of stocks given the headwinds >> if you're in stocks now it's too late to get out of stocks. if you're not in stocks now, i don't know if you would start bottom fishing or value fishing with the s&p approaching a 20% down bear market and the nasd

u.s. listed chinese tech companies trade, they may meet some of these criteria as well you would have to lock at the profit potential i would also point out that if you look at some of the bigger names outside of technology, it is brand names that have been punished on the list outside of technology, diesny is on the list, chipotle is on the list. the top of the list is a couple of home builders, pulte and dr horton when it comes to the s&p 500, it's not just tech but tech is big part of the discounted stocks >> really dramatic thanks for that. >>> our next guest has been miing meta making it his portfolio's largest tech holding saying he is looking to pick up apple if the stock falls further. jing us, wedgewood partner's cio, david rolfe what's the motivation behind the meta buy >> we think it is durable. it has been through tough times. the stock has been slaughtered i think at the valuation down here, if you are a bear on the stock i think you have to really make a case that the business model has been disrupted, it can't grow, that the share buybacks, large share buybacks down at these va

stock markets in u.s., asia, and europe are falling drastically. shares in -- of chinese techpanies fall across the asian pacific region. in the u.s. stocks dropped again today after the biggest one-day fall since 2020. in australia the footsie dipped 2%. afghanistan is changing drastically under taliban role. -- group. - rule the.former finance minister windfarm representing his country at global economic forums to driving an uber in the u.s. to make ends meet. i met him in his home in washington, d.c. behind the wheel. left afghanistan more than 10 months ago, afghanistan's last finance minister before the taliban seized control. he met us outside the now empty afghanistan embassy. what is it like for you to be here? >> tough. we had great memories of i used to come here at least twice a year for the iorld bank meeting. >> he was living with his family in afghanistan and resigned days before couple fell to the taliban. -- kabul filter the ban. >> when i left provinces were being taken. but my guess was that the capital would remain at least a couple years. it is tragic. 35 m

u.s. listings of chinese tech behemoths.aslinda: nibbling away and buying small companies -- what exactly are you buying and what are you keeping away from? >> the problem with china is that it is almost impossible to know. we are still buying the matthews china small-company fund. they are seeing opportunities in many different sectors. they are actually seeing -- saying some of the small property developers will benefit from some kind of fixed in the property messed that has been hanging over china for the last six months or year or so. they are also seeing unities in some of the smaller tech companies, but one of the things is there is a lot of digitization across a lot of small and medium-sized businesses these days. it is going to improve the business process, it will improve margins, and you combine that with a stimulus policy that will be focused on, you know, consumption, tax cuts for individuals, and for companies, it will be focused on increased lending because china can pull the bank levers to do that. it will be

he's hitting the road for kentucky to highlight a bill that would boost tech manufacturing in the u.s and earlier this week he touted his administration's progress on paying dou paying down the nation's balance sheet. >> we're on track to cut the deficit by another $1.5 trillion by the end of this fiscal year the biggest decline in a single year ever in american history for the first time since 2016, the treasury department is planning to pay down the national debt issued to the public this quarter, and for all the talk republicans make about deficits, it didn't happen a single quarter under my predecessor, not once. >> reporter: much of that historic cut to the deficit is due to the windd down of pandemi spending we'll find out more in today's jobs report due out at 8:30 a.m. eastern. back to you. >> more of the ups and the many downs our economy these days thank you, brie. >>> a second day of emotional testimony from amber heard miguel almaguer has the latest >> i couldn't, i couldn't breathe. >> reporter: detailing disturbing allegations of physical, verbal and mental abuse. >> my

u.s. stocks at more attractive prices especially in the tech sector. we saw selloff in u.s. stocks.q dropping 4% on friday the s&p dropped 3.6% dow dropped nearly 1,000 points. we are seeing stabilization. dow jones industrial average looking at 110 point jump at open nasdaq and s&p seeing green there. of course, will this remain the case is the worst behind us earnings season continues this week after big tech weakness came to define the reporting the picture is not as bleak. 80% of the s&p 500 companies that reported so far beat profits. key names out this week with results include airbnb and e-bay and pfizer we have eric with allianz joining us now eric, what is the key as we are halfway through earnings season? as i can make the generation, demand is robust as customers are absorbing higher prices. is that the case moving forward? >> good morning. i think we are more concerned about the price paid for earnings than the companies. as you said, the balances for the time being is positive and doing relatively well. it doesn't solve what we have with evaluation. >> i wonder if inves

tech lead a rebound in u.s. stocks after president biden signaled he would reconsider china tariffs imposed by the trump administration. ed ludlow is here with the biggest movers. ed: it gave the market some confidence and risk-on sentiment. the nasdaq 100, tech heavy, up 1.7%. we are coming off the back of seven straight weeks of declines. it was a very negative mood last week. remember, it was in dour straits. the semiconductor index is not as strong. we will speak about why in a moment. risk-on mode. yields are higher on the u.s. 10 year. 2.85%. bitcoin has troubled around the $30,000 a token mark. it has swung between the levels above $30,000, below $29,000 in recent days, no real direction. earnings season continues in earnest. we are also focused on zoom. we wanted to know what the future was for this pandemic darling. well, the future is hybrid work. the stock is up 10.5% in after-hours. we were up as much as 18%. strong fiscal guidance based on expanding sales, more enterprise customers. more dollars out

u.s. china tech war among others, growing problems there. gordon, great to see you there, this spread potentially to beijing. one thing is shanghai, bigger than all of our american cities in its own right but this is a special one but like "whack-a-mole." the chinese can't get a handle on it these covid spikes. what's going on? >> you have covid spikes throughout the eastern portion of the country, from the south to the north. three or four days ago they closed down the gate way to north korea. they shut the whole place down. neil: when they shut it down, you mean it, they shut it down. you can't venture out, can't do anything. >> reports are authorities told everyone to stay in their homes which is really what shanghai is. you have that in inner among mongolia and. shinzhen is various viruses. this say rant has been jumping from city to city, to city, they can't whole it. neil: is it severe? we see jump in spikeses in cases to ba. 2 to your point. we shut don't it h it down, fiddle with masks, spikes rao real even even here not increasingly

u.s. listed shares of chinese tech, having their worst days since september of 2020. 10 year yields, the benchmark treasury above 3% for the first time since november of 2018, that's just a snapshot in time. it is a complete u-turn reversal from what we saw wednesday following the fed decision to raise rates by 50 basis points. looking at the nasdaq 100 over the course of two days, bringing it up on the screen, think about the overnight change in psychology. we went to bed wednesday night thinking the fed has got this. 50 basis points in line for the next few meetings. no discussion of a 75 basis point hike. they have it, they can fight inflation without bringing us into recession and we wake up and it's a totally different story. we worry about stagflation and if they are doing enough. but there was also a lot of fighting talk from powell, talking about the strength of the economy, the tight labor market, corporate america hearing some positive noises. hard to get my head around. indeed -- emily: and many fed officials didn't agree. they thought it would plunge the economy into recession. we have

u.s. business free of charge. they'll offer workers the opportunity to learn data analytics design and other tech skills. more than 70,000 workers in the u.s. have taken part since the program was first launched back in 2018. google says each course typically takes about 6 months to finish. now they're offering for free. some customers have decided to cut streaming services as they are now going outside more and the pandemic and the easing of restrictions has a lot to do with that. it's making people feel like they can get out of the house again. but the average person is still expected to stream nearly 300 different movies or tv shows this year. and that's according to a recent survey. and regardless of what they'll be watching, people think that they will be streaming about 450 hours of content in the year ahead. that's the equivalent of more than 18 full days of venturing out in front of the tv. 4.26. the time hayward residents are now responsible for illegal fireworks which are set off on there. property. the city's updated public nuisance ordinance went into effect yesterday and the fines are $1200 f

going to your last guest in emerging mar markets, right we have a huge overweight in tech in emerging versusthe u.s the value opportunity there, but a lot of those markets have been really beaten down, too. >> yeah, and the tech plays over there not doing particularly well, but maybe an opportunity, meb faber, thank you for being with us. >>> two of america's biggest retailers reporting this morning. we've got a snapshot into how consumers are shopping online. courtney reagan has more on both walmart and home depot, what thatsignals for the market courtney >> hi. so walmart and home depot have spent billions of dollars building out their digital capabilities the while both are still seeing e-commerce growth it has definitely slowed from the pandemic-fueled surges of the last couple of years stores remain key fulfillment hubs of both walmart's quarter, u.s. net e-commerce grew, just 1% like last quarter, they were up on a two-year basis during the quarter, walmart lost its last indianapolis fulfillment center from a fire, and e-commerce was part of the gross margin drag. now, like amazon, walmart se

u.s. stocks. selloff in tech has been more punishing, nasdaq down 27% this year. deep in a bear market.rld's most valuable company. >>> and the miami heat are headed to the eastern conference finals for the second time in three years. andy scholes has it all covered in the "bleacher report." >> so the miami heat first team to clinch a spot in the conference finals with a convincing win over the 76ers. jimmy butler and the heat seemed to want it more last night. butler scoring 23 of his 32 points in the second half. here he misses the shot, gets his own rebound and then makes a three in james harden's face. harden once again not showing up in a big playoff game. he had just 11 points. only took two shots in the second half missing both of them. the heat would win 99-90. and joel embiid saying after the game that harden just isn't the player that he once was. >> obviously i'm shure since we got him everybody expected the used to james harden but that is not who he is anymore. he is more of a playmaker. there are times it could have been -- all of us could have been more aggressive. >> the

u.s. and western-focused tech businesses. think that this is part of the rationale for this deal. >> okay. so talk about the regulatory side of this then, vmware is the better known name than some of the other ones that they have actually acquired. it does have an important place among cloud companies, so what do you think is the likelihood of this deal being done if it is going to move forward? >> well, i think it's a brilliant move on their part, because they are a hardware business, so difficult for regulators to say, hey, this is somehow going to lead to unfair practices. i don't know what gymnastics the regulators would need to block this deal, but it seems to make a lot of sense to me. >> i do wonder overall, do you think -- is there an underlying comment about corporate demand for networking right now in this deal >> corporate networking in the hardware sense or -- >> yes, are you saying -- >> yeah, hardware. any kind of a degradation in the i.t. enterprise spending space going forward. >> okay. fair enough. look, i th

u.s. china tech war author, gordon chang. first of all, these drills in the south china sea, is china just testing us or are they actually preparing for an invasion of taiwan? >> well, both. and clearly, this is getting ominous, because the wall street journal yesterday reported that china is trying to sanction- proof its senior officials. now, they wouldn't do that unless they were thinking they were going to do something which we would impose sanctions on them, like invading taiwan or some other nation, so the chinese military is always constantly trying to improve itself, to get itself more ready , and clearly, they're thinking about invading somebody david: now they don't have an endless supply of money particularly after these latest lockdowns that they had in shanghai and beijing and elsewhere in the country which really slowed the economy down. hasn't it? they're in a very tough situation, of course we can never trust their figures, the figures that come out of the government because they are all cooked, but are they h

u.s. hedge funds was the top losers and how much they pulled out of tech.bal supply ships sold by almost 40%. one of the things that they slow down was the pandemic favorites, doordash, netflix, and zoom. it has been about the text destruction in the first quarter, how poorly these hedge funds surrounded by tech have done, but they did pull out of some of it in the first quarter. >> time after time you see these stay-at-home pandemic names pop up again. you see netflix which has fallen 70%, tiger global backing out of that local gated -- we dated stake entirely. you see melvin p pulling out as well, so it is a significant draw out of these tech names. one of the interesting moves we saw was warren buffett's berkshire hathaway getting out entirely from its wells fargo position. he was a long supporter of wells fargo so that is a significant exit as well that has nothing to do with tech. manus: absolutely and you have got big additions of massive growth. the question is are you surprised that many more hedge funds did not last? has the landscape changed? what

the last trading day before a possible sell, man tech primarily works in u.s.ense and intelligence agencies. -- leaving russia after more than three decades per they will sell their russian business. mcdonald's said in the wake of the war in ukraine, continued ownership is not consistent with that company's values. jetblue has begun a $3.3 billion hostile takeover of spirit airlines. they are urging shareholders to vote no on the airline takeover paired they are offering three dollars less per share than their latest bid. that is your latest business flash. guy: shares in the spirit jumping after the hostile offer. let's bring in our bloomberg airline reporter. spirit shareholders have a decision to make. mary: we will see jetblue lobbying the shareholders trying to build up their case, which they did a lot toward that today, laying out each point for the shareholders. a vote is scheduled on june 10, which they will support the frontier offer or vote against joining forces with frontier. alix: what will be the edge from spirit and jetblue? mary: spirit is going

u.s. market, what it means for the company, shareholders, china's tech outlook.last of the chinese listed adrs to be making the exit from that market? benjamin harbored from msa capital will be joining us. the lowest level in nine years. the stock exchange ceo is expecting things together pace the rest of the year. he spoke with haslinda amin in davos. >> what i would like to look at usually is how companies are submitting their filings, their application. right now we have between 170 to 180 applications of people that have shown an interest to file for ipo's. what has happened, i think it is not related to covid as much, but to the economic environment and the fact that valuations seem to be down. people are filing. we have almost record level of filing applications. they still have not pulled the trigger in a significant way. >> when do you expect the trigger to be pulled? it is impacting your earnings. you are looking at earnings at the lowest level in five years. when do you see a reversal of that? >> last year we had record earnings. when we look at the num

u.s. futures. wall street is looking red at the moment the dow jones industrial average is looking at a steep selloff. 380 points lower the tech heavy nasdaq is dropping 200 at the open the s&p 500 is resilient and still implied to open lower as well >>> u.s. economy has added 428,000 jobs in april. topping the estimate l leisure and hospitality sector gaining. the unemployment rate at 3.6% despite the expectation would fall hourlily earnings rose 0 .3% >>> in terms of the week ahead, inflation data is taking note. releasing the april cpi reading on wednesday moody's is expecting prices to remain high, but moderate from the 8.5% increase in march the second inflation report is producer prices increase is on thursday the investors will watch out for comments on inflation from the fed presidents they are all due to speak this week we will have more on the economy later today when we speak to fed president neel kashkari. let's welcome josh to the program. josh, always a pleasure to speak with you what is your take on what drove the massive selloff from last week and the volatility we saw intraweek? >> thanks for having me on the

u.s. let's get to our top stores around the world. in a moment, we will have juliette saly bring us up to date with that rally in chinese tech stocks. have bruce einhorn taking a look at antony blinken's -- on china and the international order. manus: paul dobson runs us through this u.s. stock rally and we have crystal tse on the deal at the top. let's circle back to chinese tech. the biggest jump in alibaba and baidu, both set the sales agenda but they are nervous about the outlook. let's get to jules. juliette: indeed. i guess the key point is the fact that, is this the end of the bottom that we have been seeing in some of these tech players? a big rally coming through in these stocks after we had alibaba and baidu beat on the revenue front. for march, we saw a revenue rise by 9% for alibaba. they said they will be keeping a lid on costs and moving further into cloud and digitalization. baidu was a beat in the quarter. neither providing full-year guidance. we saw baidu stop that late last year and alibaba did not provide full-year guidance. we have also been asking today, where these results good or just not as bad as tencent? le

u.s. economy. and tesla, it's tech, it's consumer discretionary technically consumer discretionary. th thosal allegations could be down i would point out that if you look at the record highs, at this point, we're down roughly 48% after athe record highs for tesla. weal with see if there's any can kind of a bottom >> with the dow down 500 points. tech stocks with the nasdaq down from its highs and pretty much nothing's been immune. even the stalwart apple has been hit. the next guest has ideas that could pay off in the long run. portfolio manager at goldman sachs asset management it takes a strong, stomach, i guess, to be steering the ship right now. where to you think are the best opportunities? >> thanks for having me on about the most complicated tech-investing environment i can remember and it's an important time to be talking about where we do see opportunities. we are still big believes in most of the tech ecosystem if you think of what's happening in semiconductors and semicap equipment. we think there's tremendous opportunities. we don't have an edge on the macro and clearly

gains of 8% when it comes to the tech index. the u.s. 10 year up 2.91. in terms of cape, we are getting a decent move for the pound. bitcoin is above that 30,000 level as we continue to report on another currency within the stablecoin market that has been dropped in terms of the peg broken. up almost 2% in the session today. francine: bitcoin over 30,000, all is well. also a big shout out to the cac 40 because they have a female p.m. for the first time in 20 years. the sectors are moving the most and we have travel and leisure moving the gains higher. i do not have one sector in individual stocks that are down, but one sector that is down is telecom, one that is not as exciting at the rest. tom: and vodafone comes at a miss when it comes to first-quarter earnings. this is on the back of concerns about its inflationary impacts going forward. caixabank, this is an announcement of a share buyback, gaining around 2% for this, and contour global, this is on the back of an all-cash offer for this renewable energy company based in the u.k. you are looking at a

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tech giants. those inflationary fears of course probably well-founded. u.s. cpi numbers again today rising more than expected for the month of april. yes, if it eases with the headline number. but we are talking about the highest numbers in decades pre-twin it comes to core cpi numbers also topping all estimates, we are talking about the really sticky parts of the economy like shelter, airfare, food and so forth. we are watching the cpi numbers closely because this will help shape what happens with the pce numbers which is the fed's preferred inflation gauge and that will come out later in the month. haidi: certainly that was not the relief when it comes to seeing peaking inflation that markets would have wanted to last night. let's look at how asian investors will be taking in all of this on. -- take a look at sydney futures. firmly down at the moment. looking like an early decline of about .6% when we get to the start of trading in the cash session. that .2% gain for trading in australia it was a brief blip to the upside after several days of downside tradi