xi-chun, xi-chun, xi-chun! you've got more options than you know.now. but starting it eight months pregnant, that's a different story. with the chase ink card, we got up and running in no time. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card from chase for business. katie: did this morning shows the s&p global u.s. manufacturing pmi is up to a four-month low in the latest reading. >> yes, pmi dropped 49 points. 49.9 in april down to 51.9 we saw in march. it is interesting that u.s. producers drew down stock purchases for a second consecutive month. we saw that inflation keeps rising but the pace is decelerating a little bit and drivers of inflation are changing a lot of it. risk producers are now facing higher costs and they are coming from higher raw materials and higher energy prices. that is in contrast with services inflation we saw last year and that was mainly driven by wages inflation. we see that demand weakness also impacts hiring plans. that is mostly for u.s. services sector. that is a chart that

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.oline: colleges in the united states, many confronting pro-dem and -- pro-palestinian demonstrations on campuses with campus life really thrown into turmoil as the academic year comes to a close. columbia in new york, and -- dozens of students barricaded themselves in hamilton hall on tuesday, covering security cameras. we want to go live to columbia university. on the ground is scarlet fu. making it clear, this is happening in the u.s., europe, outside german parliament at the moment, at the sore bone. it's a global element. what is happening on the ground right now with you? caroline -- scarlet: this is ground zero for the pro-palestinian protest three -- sweeping the world. dozens entered hamilton hall. one of the banners says free palestine. another one says intifada. they are occupying the building and have covered security cameras with black trash bags. this is a building that is of course story to because it has a history of student occupation. 1960 eight, students protested aga

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.oline: calls are growing for a crack down on x in australia after two knife attacks in sydney. graphic content from the stabbings as well as misinformation spread quickly. that has prompted five government ministers to consider tougher laws for social media companies. tencent shares staged a big rally since december. now we know china's biggest internet firm has an earlier than anticipated debut of the game to draw in new users. japan's under trust regulator has its eyes on google after his has the tech chinese used tactics that limited yahoo! japan's ability to compete. alphabet changed their conduct as soon as they flagged the practice but they will keep on monitoring the u.s. firm. what are you looking at? ed: we will be joined by the bitcoin co-founder to discuss bitcoin's halving. i'm also looking at shares of apple. this is a market mechanics thing. we are off session lows but apple is named as a topic for 2024 by bank of america. old-school story, big balance sheet, great cash f

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.i continued its performance. in the back of its cloud division. they reported net profit of about $2 billion u.s. dollars in the december quarter. that is up more than 65% from a year earlier. plus, openai plans to open an office in tokyo in april as the ai pioneer begins to build out its international operations. it will be the first office in asia and the third international location after they opened offices in london and dublin last year. all of that according to bloomberg sources. at&t said personal data from about 73 million current and former customers was leaked onto the dark web. the data hit the dark web about two weeks ago. the league's data also includes personal information. it appears to be from 2019 or earlier. the source of the data still being investigated and it is not known whether it came from the company or from a third-party vendor. caroline: we want to dig into the story a lot more now. bloomberg intelligence editor john butler joins us. at&t rushing to talk to c

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xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. her uncle's unhappy.sensing anions underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for.

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh katie: this is bloomberg markets. it's time for today's wall street beat. we are looking at bridgewater's next chapter as it looks to move past ray dalio's reign. kathy burton is with us. it's been about 18 months for this idea, how's he doing? >> he has a mixed report card. he has tried to make a lot of changes at the firm to improve performance. there has been some perio of good performance including this yeard but last year, they hads one of their biggest losses. it's not entirely clear yet he has figured out how to improve things there. katie: when it comes to what's going on at bridgewater, i feel this is part of a broader story when you have any industry having a hedge fund moving beyond the founders influence. it's tough to do. particularly at a place like bridgewater because it had a particular culture. ray was a very sort of dominant leader in th

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.m sonali basak and it is time for the wall street beach where we are looking at a new partnership in private credit and that is barclays and agl credit management making a push into the $1.7 trillion space with a backing from the abu dhabi banking authority. running us is peter gleysteen. unlike many people in this business, you have been doing private credit for a long time. there are a lot of new entrants in this space. i'm curious what a deal with a large bank gives you. especially because we have seen for -- we have seen so few of these partnerships. peter: this is unique. barclays has a huge origination footprint. they have hundreds of bankers covering multiple clients. first it is an incredible sourcing aperture. second, we are deeply integrated inside of barclays. we will be involved in opportunities their breaker service works on at inception. we will have awareness, involvement, and information about every opportunity weeks and months before financing is considered and decided

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xi-chun, xi-chun, xi-chun! you've got more options than you know.k now. ♪ ♪ sonali: this is bloomberg markets and it's time for the stock of the hour. lockheed martin first quarter operating income beat expectations as a delivered more fighter jets and missile systems. all four businesses increased sales in the quarter, boosting overall revenue by 14%. romaine bostick spoke with a company's executives and he joins us now. if you think about what's performing inside of lockheed martin, how do you think about how investors are latching on to performance? we were talking about how these contracts are long-term. romaine: they have for big business units and one showing the most growth is the missiles business. that was up about 25% year-over-year. they don't want to go into specifics given what they sell and their contracts which are classified but it's clear that the weapons we've been shipping to ukraine, to israel and other parts of the world have in a big room for a lot of the defense contractors including lucky. in the most recent year, the defense

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.onali: this is bloomberg markets. i'm sonali basak. u.s. colleges from coast-to-coast are looking to address pro-palestinian demonstrations on campuses. at columbia and new york city students have occupied a campus building and barricaded themselves inside. joining us from the university is bloomberg's scarlet fu to talk about the escalated tensions being seen. first, start with what it feels like right now. on campus. scarlet: we aren't on campus because the campus is on lockdown mode. the only people allowed on campus are students that live on campus. for everyone else in the campus is off access including faculty. we are talking about students that live on campus at all essential personnel. it is ok because classes have ended for the semester. everybody is studying for finals that begin friday and take place for about a week. the school is preparing for graduation, scheduled may 15. our producer went to check out the campus and saw a sign that said they are still moving forward with

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.uld i? normally i'd hold. but... taking the gains is smart here, right? feel more confident with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. jonathan: equity futures positive on s&p. on the nasdaq, there is your outperformance on the small caps. we will ask the question, is it real or not a lot. in the bond market, things just stabilizing on the two-year. 4.5 917. the interesting breakout the last four weeks has been in the commodity markets. copper has broken out. gold, all-time highs. copper up. energy breaking out. energy stocks up by something like 10%. annmarie: i am stunned by brent crude. jonathan, when i look at a number like that, this has to be a headache for the white house. do they have to think of a drawdown? this is the worst timing this administration could potentially have for a breakout. jonathan: is it just a supply-side story? subtle signs that may be they start to reboun

xi-chun, xi-chun, xi-chun! you've got more options than you know.us: -- jonathan: thousand back on the s&p 500. nasdaq coming off the worst day of the year. down 5% last week, worst week since november 2022. the rest are positive. a little bit of a bounce in the equity market. turning to the board -- turning to the bond market, two year yields climbing. up about three basis points. on the two-year come up by almost a single basis point and getting closer to 5%. lisa: on one hand, people i saying this is a good place to buy. that is the battle that we will be looking at. do we get more people saying to year yield looks pretty good? or do you have more people saying, hold up. we do not understand what exactly is going on under this -- under the hood. jonathan: a quiet period for the federal reserve. i think we all understand that. what we do not understand is what is happening in the commodity market. wti is down. crude coming off of a weekly loss. when comparing the reaction of markets to the views of most security experts, i am reminded of the story

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. it's an amazing thing when you show generosity of spirit to someone. and you want people to be saved and to have a better life, then you don't stop. the idea that we have saved five million people's lives, it's overwhelming. it's everything. >> good morning. this is bloomberg daybreak: europe. these are the stories that set your agenda. loretta mester wants to see more debtor. governor bowman warms -- warns that progress on inflation may have stalled. the boe governor says that u.k. is facing less inflation risk than the u.s., opening up the prospect of cutting rates before the fed. tsmc, the world's biggest semiconductor maker, set to report earnings this hour a day after disappointment from asml. nokia dropping right now. the telecom equipment maker of course. we will bring you those lines with a focus on sales. first quarter net sales coming in below the estimates for nokia. 4.6 7 billion euros. essentially 4.7 billion euros. below the estimates of 5 billion euros. here's the redhe

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.erg markets. i am abigail doolittle. your looking at a live shot of the principal room. that is coming up at 12:00 eastern and 5:00 london. this is bloomberg. ♪ katie: it is time for our daily "wall street week" conversation. the senate banking committee is looking at ways of advancing stablecoin legislation that would mandate 121 reserves -- one to one reserves. national security concerns remain. tim massad joins us with david west and. stablecoins are a hot topic. david: it is great to have you back. we have talked about stablecoins and the risks. you have another concern you have written about. tell us about the possible national security implications of stablecoins. tim: the issue is stablecoins can be transferred without going through banks, u.s. banks in particular. they are transferred on permission less blockchains. it is the role of u.s. banks in the global financial system that has given us the leverage to apply financial sanctions as a tool of foreign policy. you can debate

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.han: how excited you are. a day ahead. annmarie: i have never seen her more excited about any. lisa: i do not want to talk about that. jonathan: that is the story of the moment. negative 500. yields are lower by two or three basis points. a quiet start to the week. cpi little later on. the case for three rate cuts. >> i think we have enough data in hand right now to justify the first rate cut. you could justify the first rate cut. you should take the committee and the chair at face value. i think their best guess is still three cuts this year. the data can go one way or the other, but that is the base case. jonathan: signs of inflation calling. march cpi should be telling of whether it was a function for a journey drawn out materially. we show the progress' slowing. shannon joins us now for more. let's get into that, the details. what are you and the team going to be looking for? shannon: it is about the composition, going forward. was it seasonal or are we seeing renewed acceleration

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. >>> welcome back to "worldwide exchange." we turn to the push around the boom of artificial intelligence. microsoft announcing it will invest $1.5 billion in the uae firm g42. >>> the chief of google plans to spend $100 billion over time developing a.i. tech. that comes at the conference yesterday when asked about the reported $100 billion super computer planned by microsoft and at openai. >>> and baidu's erniebot now has 200 million users. let's bring in the chief innovation officer at ey. jeff, great to have you here in london. >> thank you, frank. >> we are spelling out all of the companies using a.i. how will this impact us in the workplace? you put out a survey saying 61% of companies are uncertain around gen a.i. >> what i'm seeing is everybody is excited about a.i. and gen a.i. specifically. they will invest heavily into the space. if you look at the industry today, 99% of them said we are investing in a.i. 70% said we will accelerate investment in a.i. if you look at

xi-chun, xi-chun, xi-chun! you've got more options than you know.ook now. lisa: jonathan: -- jonathan: squeezing out a third day of gains on the s&p 500, but under surveillance, meta has a big spend. >> the actual quarter looks pretty good. looking at the top line growth, 27% is a good number. outgrowing everybody else on the digital side. the expectation from most was that they would keep the costs in check. the fact that we are not seeing that is spooking a lot of investors out there. jonathan: investing billions more than expected in artificial intelligence, the facebook parent revenue forecast fell short of s emits, looking ahead to microsoft and google after the close later. mandeep singh joins us now. if i said to you at this time yesterday they would deliver topline growth below 20%, but would you have said to me? mandeep: the only caveat would be that if they lost $4 billion on reality labs. even yesterday, they called out air glasses and wrote down inventory in lapsing vr, putting into question that there are no investment markers in realit

xi-chun, xi-chun, xi-chun! you've got more options than you know. ♪ ♪ ♪ ♪ ♪ ♪ give into the rhythm of the islands and delight in a caribbean state of mind. visit sandals.com or call 1-800 sandals. >> you are looking at a live shot of the principal room. coming up, michaelkirban joins us at 2:30 p.m. new york time. this is bloomberg. ♪ katie: it's time for our daily wall street week segment. ports along the east coast or modifying operations to absorb cargo diverted from the baltimore harbor. for more in the aftermath of the francis scott key bridge collapse, brenton daniels and david westin join us now. it's a conversation i feel we will be having for weeks to come. david: it still one of the top stories around. thanks for being back with us. we've had a few days now to observe as much as we could and the shock of what happened in the baltimore harbor but what do we know now that we didn't know when it first happened? >> one of the things that came as a surprise here was how fragile our infrastructure was. this is coming up over and over again. we a

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.d emma... they respond to emails with phone calls... and they don't 'circle back', they're already there. they wear business sneakers and pad their keyboards with something that makes their clickety-clacking... clickety-clackier. but no one loves logistics as much as they do. you need tamra, izzy, and emma. they need a retirement plan. work with principal so we can help you with a retirement and benefits plan that's right for your team. let our expertise round out yours. >>> welcome back turning to news from washington. the biden administration announcing micron is latest recipient of funding from the chips and science act. megan cassella is joining us with more. >> reporter: president biden is heading to syracuse, new york to announce the micron deal they are set to receive $6.1 billion. that money will help build out the factory in boise, idaho and in new york. the focus on production of memory chips in exchange, micron is investing $125 billion in the two sites over the next 20 year

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.ook at some stocks hitting highs and lows today. chipotle giving a 52-week high after lifting its full-year outlook thanks in part to its chicken promotions. shares of the restaurant chain in the midst of a six-month rally that seem the stock surge close to 70% of another 2.6% today. on the other it did hit a two-year high that was after reported first-quarter revenue that blew past expectations but currently down about 2%. on the others bowing hitting a 52 week low after s&p revised its outlook to negative. the troubled airline with a tumultuous quarter. headlined by its 737 max crisis share. coming up next we had bloomberg technology and that does it for bloomberg markets. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh >> from the heart of where innovation, money and power collide in silicon valley and beyond, this is bloomberg technology with caroline hyde and ed ludlow. e

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xi-chun, xi-chun, xi-chun! you've got more options than you know.ive shot of the principal room. coming up, cantor fitzgerald ceo howard let nick about his desk howard lutnick. this is bloomberg. time for talking tech. abu dhabi startup chief 42 is choosing sides. the company known for a sprawling product portfolio is teaming up with american companies like amazon and microsoft and divesting from its chinese partners. the move comes amid worries from u.s. officials of open backdoors from the chinese government with some members considering an intelligence briefing to discuss g 42's latest partnership. the chinese online tutoring platform has filed for a u.s. ipo according to sources. it adds to signs beijing is looking to boost funds for its tech industry. the company is worked with advisors on a potential listing that could take place as early as this year. the semiconductor maker expect a full recovery in the memory chip market led by ai related demand. the company posting first-quarter results that exceeded expectations for casting its fastest pa

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. this morning. we get pmi's. 60 $9 billion of 2-year note's coming on a little bit later this afternoon. and early -- earnings from tesla after the closing bell. equity features positive by one third of 1% on the s&p. yield higher again by a basis or two. under surveillance this morning, the senate taking up the foreign aid package. >> the aid package certainly passes, the ukraine, israel, the indo pacific, read taiwan. there are also sanctions in foreign policy matters that pass. beyond that, on tiktok, i do not think we know yet. jonathan: the senate voting on a foreign aid package for ukraine, israel, and taiwan, as well as a bill forcing tiktok parent bytedance to divest the plot for more face a ban in the u.s. jeannette lowe of strategas joining us now. can you walk us what you think will pass and what won't? jeannette: we think everything will pass that passed the house. there will be the package for ukraine eight, israel aid, and for the indo pacific, as well as the sidebar pack

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.erg markets. coming up, an interview with levi strauss ceo michelle gas. this is bloomberg. ♪ caroline: time for our wall street week daily segment. ray dalio says 2024 is a pivotal year. he spoke with david westin yesterday. david: >> the rise of populism on the left in the right at a greater extremes so much so that we question the system because that polarity is the picking of people who will fight for me at all costs. it's a threat to democracy, it's a threat to compromise and it is a certain dynamic that comes along like once-in-a-lifetime. david: you even write there's a 50-50 chance of civil war. is that right, 50-50? >> let me define a civil war. you have a situation where you have irreconcilable differences so that there becomes a failure to follow the rules. in other words, let's take january 6. you could see a situation in which you don't accept the results. we are getting more and more not only just at the election but even in decision-making as the state of texas deals wit

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.beat music) there's more to business than the business you're in. if you use data, that's the privacy business. manufacturing on demand? you're talking cloud business. got a few million hyper-connected customers? digital experience business. that was fast. that's where deloitte comes in. with the right combination of talent and technology to help advance and connect all that it takes to excel in business ... to the business i'm in. deloitte. sonali: this is "bloomberg markets." president biden signed a bill this morning that will start a 270 day countdown for tiktok to divest or face a band in the united states and in response, tiktok says that this unconstitutional law is a tiktok man and we will -- ban and we will challenge it in court. kailey leinz is an d.c. with the details and the tit for tat is very hard not to watch. it's interesting to see how this is being fought. ultimately, is there anything that tiktok can really do? kailey: they can try to fight this and he you intend to

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. caroline: u.k.'ust watchdog is gathering information to determine if the for billion-dollar collaboration between amazon and the ai firm anthropic threatens competition in the u.k.. with us more is catherine. cma is not holding back on this. spell it out for us. catherine: last week the cma said it was worried about these partnerships and investments at ai companies by the big tech firms. they are worried the companies are using these as covert opportunities to really have influence over the emergent technologies. they have opened three new probes and it adds to the probe that was in the works of microsoft's investment in openai. ed:, jerry quickly if the cma moves forward, what are the repercussions? katherine: it's just an invitation to comment stage. this is a merger under their different terms. then go to phase one. that would be the first stage of the probe. there will be substantial -- taking go to a phase two probe. they can ask for divestments of certain things or they can block them altogeth

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.what's brilliant? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which is pretty un-boring if you think about it. >> the president was very direct that this was a huge success, that israel can be proud it is not and alone and it has superior military capability. iran utterly failed, and that success alone sends a strong message through the region about israel's place there. ed: john kirby speaking earlier on bloomberg television. we are waiting for more remarks from the white house as president biden opens a bilateral meeting with iraq's prime minister. joining us is "balance of power"'s host. what else are we hearing? matthew: take a win, and if you

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xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.hat are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. jonathan: the first trading day of q2 42 minutes away. equity futures positive 5.1%. up .4% on the s&p. the balancing act for chair powell. >> right now, there is a battle going on with monetary policy versus the easing of financial conditions. monetary policy is not exerting much restraint on the economy. that is why the fed has been on the path of having higher for longer. the fed thinks the federal fund rate is a good projection in the lo

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.. but i couldn't find pilates anywhere. so i started my own studio. and with the right help, i can make this place i love even better. earn up to 5% cash back on business essentials with the chase ink business cash card from chase for business. at morgan stanley, old school hard work meets bold new thinking. to help you see untapped possibilities and relentlessly work with you to make them real. jonathan: bouncing back this morning, alphabet big time in the premarket. equity futures up by 0.7% and yields lower by a single basis point. it's all about the data this morning, the fed's preferred inflation gauge on deck. >> we believe inflation will prove more sticky that the fed's preferred method which is core pce it may settle at 2.5 versus two. and the fed is not, i don't see why the fed would be rushing to cut rates on an environment where inflation is still sticky, that was true three months ago it is true today. >> the median estimate in bloomberg survey calling for a 2.7% increase f

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xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.-- abigail: this is "bloomberg markets." coming up, christopher joins bloomberg tv at 3:45 p.m. new york time. this is bloomberg. katie: it is time now for our daily wall street week conversation, and today we are taking a look at political pressures facing central banks. joining us now, i am pleased to say we have kenneth rogoff, harvard university professor of economics and share of international comics, along with david westin. david, a timely conversation as the fed kicks off its tuesday meeting -- it's meeting -- its meeting. david: thanks for being with us. you have a paper co-authored talking about long-term low interest rates. first, we will have the fed make a short-term decision presumably this week. how does that fit with long-term interest rates? how should the fed take into account what you are saying? kenneth: long-term interest rates are higher for as far as the eye can see. that probably means what they think of what is their target is higher than they had been thinking

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.bigail: this is bloomberg markets. coming up, john lawler joins bloomberg tv at 4:00 p.m. new york time. this is bloomberg. ♪ katie: time for the daily wall street we conversation. energy has been among the more affected spaces as tensions have notched higher in the middle east and ukraine. in an interview with david westin, new fortress energy ceo wes eaton's talks about the effect of the geopolitics on the energy transition and particularly on natural gas. wes: there is 400 million tons of production the world that will double the next couple of years. you have the ukrainian-russian work. that caused prices to go through the roof, to the atmosphere. they settled down but gas is the true transition fuel as we talk about energy transition. people lack power all over the world. gas is the cleanest version of the way to get there in the short term. it works well with renewables what you need to have baselevel dispatch when the sun does not shine in the wind does not blow. prices have com

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.ali: the latest gdp data sending yield to the highest levels of the year as traders now expect the fed to cut rates. it's possibly in december at the earliest. we discussed the changing expectations and why was this gdp data enough to move the needle in terms of bed swaps? >> it's interesting because the data we saw come out this morning not only showed a gdp but also a core underlying inflation gauge and that's what the bond market focused on. we saw this move higher in yields, the route in treasuries continuing in the wake of that data. if you are a bond trader on wall street now, it is extremely difficult to ignore the evidence we've seen for economic indicators that shows inflation is rather sticky in the u.s. and that makes it more challenging for federal reserve officials to end up cutting interest rates. we still have swaps traders and we saw them go and push their expectation for the first fully priced in fed rate reduction to december. before the data hit, it was november stil

xi-chun, xi-chun, xi-chun! you've got more options than you know. ♪ ♪ relax into a caribbean state of mind. visit sandals.com or call 1-800 sandals. alix: this is bird markets and let us turn to the big take. a pair of finance veterans wrought despot h -- bought hertz and went all in on electric. and it went bad. how long have you been working on this article? eric: three years ago and the two guys concocted this plan. and i have to be honest with you at the time as well as to them and be had seemed like a good idea. take a century old business and ring it into the training -- 20th century by taking the gas powered cars and the gas guzzlers and replacing them with tesla. alix: when you started the article was it like this is a great move and then it slowly turned into this did not go well? erik: it was this is what they were doing and the reason they put it on the shelf was because we did not know where it was going. as it turned out it went, but it did not go where they wanted it. sonali: where they early or that they have fundamental issues and tu

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xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.rkets, you are looking at a live shot of the principal room. coming up, greg hewitt joins today. this is bloomberg. katie: time now for our daily wall street week conversation. we are focusing on the terminal in the middle east. on saturday, iran ceased a container ship, the latest in a series of attacks between the two countries, and here with more insight into how this impacts global supply chains is brandon daniels along with wall street weeks david westin. david, an important position after what we saw this week. dated: a lot of drama. what did you see, what is the reaction so far in the market what we saw over the weekend? >> so there are two things. the first thing is that the market is responding to the bearish oil expectations, so there has been a sentiment that there is going to be a depression in oil demand this year. and so that has eased supply shock that was anticipated, and that has also eased the sort of geopolitical tension impact. so that is one of the major market imp

xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.ing. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which is pretty un-boring if you think about it. so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. jonath

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xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.onathan: i love aronowitz. we spent the whole commercial break discussing cloud seeding in dubai. lisa: fascinating, some people say that they might have conducted it. they are saying they absolutely did not. this is a real thing. jonathan: i'm surprised it hasn't been bigger in the new cycle. annmarie: they've been doing this since 2002 but they haven't put the right drains in case it actually worked? jonathan: it's amazing. the amount of flights that have been canceled as well. if you are over there, i hope you're doing ok. yields are lower by three points on the 10 year, 400-6366. bowing under scrutiny this morning on capitol hill. >> of course, everybody in america is worried about what happens without the reputational safety and consistency. you simply can't compete. that is why everybody is worried about bowing. we have got to get bowing back to the point where it can produce. jonathan: the latest, the senate holding two hearings around whistleblowing claim over safety culture wi

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xi-chun, xi-chun, xi-chun! you've got more options than you know.k now. . >>> welcome back take a look at shares of spotify up nearly 13.5% right now. the music streaming company beat earnings estimates despite slowly than expected user growth revenue climbed 20% and active users rose 19% from a year ago to 615 million, short of its previous guidance. today's gains pushing the stock up more than 60%, about 65%, this year. got to wonder where taylor swift and beyonce fit into this momentum here as well. carl >> meantime, cathie wood's once high flying ark innovation etf continues to struggle in '24 down around 15% this year under performing the s&p four of the top five holdings for the etf are negative on the year led by tesla. the group's largest holding by weight coinbase the only outperformer among those names. the shares struggle leading investors to pull money out of cathie wood's funds. investors have pulled $2.2 billion from her six funds this yearan >> yeah. secretion of value the key play for winners investors when comes to ai. we can rememb

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xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.onathan: just for the record, amh thought she brought -- bought the solar eclipse glasses, they are movie 3d glasses. [laughter] annmarie: they are not. get real. jonathan: equities right now, the s&p 500 are -0.1%. your 10 year, 4.4399. under surveillance this morning, israel preparing for rafah. >> we have been increasingly frustrated. that was a core message that the president told prime minister benjamin netanyahu. they have to make changes. the prime minister assured the president he would do that. we have seen some announcements in those early hours. we have to see more. we have to see it over time. jonathan: israel, putting troops out of southern gaza, preparing for operations despite growing pressure. the president is one step closer to victory but reiterating there will be no cease-fire until hostages are released. elliott ackerman joins us for more. are you unclear on u.s.-israel policy after the events of last week? >> know, i am certainly not 100% clear. i think the u.s. is