alix: technology stinks. we will be with you in a little bit. >> this is bloomberg. >> here is the first word. boris johnson says no point in trying to renegotiate with russia's president vladimir putin. he sat down for an interview with bloomberg. >> how can you deal with the crocodile when it is in the middle of eating? what is the negotiation? that is what7 is --putin is doing. he will try to call for a cease-fire. >> for sophisticated rock assistant be sent to ukraine so ukrainian forces can hit russian target farther away. the latest u.s. challenge to china, the biden administration and taiwan planning to announce negotiations to increase economic ties that would focus on enhancing cooperation and supply chain resiliency. idea would fall short of her free-trade agreement. global news, 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. alix: let's get back to our conversation on meghan swiber. in some respects, people are th

alix: and you did not make fun of my tcrc question -- guy: can't say it. alix: it is a friday. roland, i know you are breaking ground in starting a new plant you opening in atlanta. can you tell us the status of that? and then that ties in with the cost question guy was asking. costs are rising fast and the u.s., and what are you noticing as you move forward? roland: it is a big step with recycling technology coming to the u.s. it is a large market of about 6 million tons of metal containing comp lexus cycling materials. we're the first to bring this technology into the market. it is a 3.5 billion euro investment, so significant for our company. for us, it is the first step, a starting point for the u.s. market going forward. from the inner-city side, the u.s. is better priced than europe -- from the energy side, the u.s. is much better price than europe. labor costs, we pay our people extremely well. it is a highly skilled labor force. we know certain cost ingredients will have to be passed on within the supply chain. project is good -- doing well. groundbreaking will be on ju

alix: but here in the u.s. it looks like you could leak out flat for again for the month with 1.1%, well off the lows of the session, marathon oil the best performing stock within that and a selloff in the bond market here, 12 points higher on the 10 year, just like you pointed out in italy. tech is also off the low. it feels like we might be looking at a flat level for the tumultuous month of may but the commodities sector is what's still doing well here. guy: and we knew it was coming. high inflation, it's going to be a big problem for the ecb. let's talk about the day we had yesterday, spain, 8.5 percent, germany, 8.7%. france today, 5.8, a big nuclear power fleet getting away on the energy side little bit. italy, seven .3. taking the eurozone number, alix, remember, we have a negative deposit rate with negative 50 basis points in europe and that is a massive problem for the ecb. talking about the fed to be in behind the curve? the ecb might be even further behind. that inflation number is a big, big problem

alix: what about fiscal? jamie -- damien: we know the 10-year is at 282 here we could ceos go higher. the china u.s. yield differential tracks closely we know what is going on. it would be surprised to see dollar you on at --yuon be a. guy: first time buyers, .2, but that felt more tangible than some of the other action taken. damien: it will not have any material impact, because lowering a funding rate and having people access and borrow is another. if you look at the data over the weekend, less than half of what we saw in the prior month and they didn't announce loans, medium and long-term loans to households. that is a data point they usually announce. the reason being is that it was probably really bad. the fact of the matter is, lowering the rate is one thing, lowering the floor which is what they did, but people need to borrow. it is only for first time homebuyers and i don't see a stimulus impact on that. alix: in 2009, china came to the rescue for the oval economy with fiscal. is the opposite true? da

alix: walmart stock got hit hard. do you have a readthrough for other retailers or is the emergent issue a specific walmart problem? -- is the margin issue a specific walmart problem? jen: the margin issue is a moment problem. but we have target tomorrow, which is much more heavily general merchandise oriented than walmart. so if there is weakness in general merchandise, that may be a target. next week we have tjx, off-price retailers, and they should be doing well with inventories, so it will be a question of how much traffic they are getting into the stores. guy: mike, from the fed's point of view, you answered this earlier, but i want to come from a different angle, the fed will have to get more nuanced in how they think about the consumers. the consumer is a large part of the u.s. economy. are we going to be looking at this from a sort of totality point of view? or is the fed going to be most worried about the most vulnerable in society? is the fed going to play a social role in this, and as the consumer starts to

alix: thank you, abigail. you had consumer sentiment to decade low and that is not affecting the equity markets but part of that we need to focus on rising inflation. yesterday the world agriculture supply and demand report and something interesting happened. global wheat stock smiles will decline to a six-year low. the war and russian invasion of ukraine is big an weather is but if food prices may have rolled over a touch but when you have this shortage it won't get fixed soon. corn planting may not be as good as we thought. usda calling that sooner normal all of that adding to inflation pressures that won't be necessarily temporary. guy: that is the issue that everybody is trying to figure out. how long will this last an how do i reposition to figure this out and what are my input costs going to look like and how strong will the consumer in terms of buying my stuff. food is front and center with a lot of articles in the u.k. about it the era of cheap food may be coming to an end. retailers have the supply is

alix: great point. there is a school of thought that says if you get out of negative rates, even just getting to zero will be good for growth. is that something you agree with? kokou: to some extent. one problem of negative interest rates is that we have seen businesses that were unprofitable being capitalized because of those interest rates and the quiddity. today, we are starting to see a bit of natural selection. the credit market is widening. therefore, it will force more efficiency in dealing with these indications of problems we have seen in europe. it is what has growth in europe going. guy: in terms of how you think these markets are going to move from here, we have come a long way quickly. the u.s. markets trading down, the s&p into a bear market friday. what are you guys in king in terms of how much further this is going to go? what do you think comes next? is it a bear market rally? a sustained rally? kokou: we have a lot of debate. our view is that we are going to see in normalization of inf

alix, guy, back to you. alix: we appreciate that, haslinda. this is bloomberg. ♪ guy: oil prices fairly flat but the saudi aramco ceo says that markets are basically balanced and companies need to invest more in production to meet rising demand. he spoke earlier to francine lacqua from davos on the oil market recovery during the pandemic. >> after the pandemic as economies started to recover there was a slow pickup and there was a lot with supplies compared to demand, the pickup after economies started to open. and we are seeing now, in different countries, different demand patterns, in the u.s. you might see more transport fuels. some areas where there is some lockdowns or an impact in terms of demand. but in general the market is good somewhat. >> could you foresee a situation where there is so much demand that there is not enough supply and mark >> i don't want to talk about that supply? >> i don't want to talk about prices, but today we are talking about 2% work lower, 100 million barrels. giving comfort to the market so in case of any d

alix: it is a fair point. we want to get from elizabeth brock, resident fellow at the american enterprise institute. do you agree with that assessment? if they cannot agree on an oil embargo, it seems like a gas embargo is way off the table. does it bring into question the weakness and unity issue in europe? elizabeth: it could. gas is a more important issue for european countries than oil. we shouldn't forget how incredibly unusual it is for all eu member states, for the g7 member states, and for nato's member states to reach this degree of unity. for them to have come this far is quite something. guy: let's talk about the possibility that the cut off comes from the other side, that the russians decide that they are going to cut off, vladimir putin decides he will cut off europe from russian gas as a result of finland and sweden joining nato. how realistic do you think the risk is? elisabeth: that is a risk we should take seriously. ordinarily, russia might act on those threats to finland and sweden. if swede

he will be joining alix and i on the cable show. let's take a quick look at what is happening with the markets. we are about to close down. the ftse 100 is outperforming. the miners is having a good day. technology is under pressure. the close is next. this is bloomberg. ♪ a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect. guy: we are wrapping up the monday session in europe. about to close down the regular session. where are we? a fairly mixed picture out of europe. depends on where your market has the heaviest waiting. london outperforming, up around .5%. names like glencore, the miners having a good day. we are seeing the metals market gaining traction. the cac 40 and the dax are negative. areas like technology under pressure. let me so you -- let me show you how we work our ways through the date. a bit of a cap lower. most of the day in a fairly tight range. a little bit of a pickup before the close and we are finishing flat on the stoxx 600, basically where

alix: s&p is now up by .3%. it has been incredibly volatile and a very difficult market environment particularly for companies that have recently ipo to. i wonder how that impacted either your business model, how you need to raise any more money. what those conversations are like. >> we are fortunate to have a strong balance sheet and a good strong cash position. we are not in the market to raise money and we are not going to go public imminently. we reserve the right to go public and we will do so at the appropriate time when we need and want to. so for us it's business as usual. we have enough cash on the balance sheet to invest in our distribution, granted an innovation. so we are going to just keep going for now. guy: was there a plan to ipo more imminently? has timing changed? >> timing hasn't changed with impossible foods. there was a lot of speculation. it was never imminent. it's on the table. that they will come and i will keep you guys posted. and i would love to be back on to talk about it, but that d

>> this is bloomberg markets with alix steel and guy johnson. ♪ alix: it is 30 minutes into the u.s. trading day. here are the top stories we are following at this hour. the one and a half trillion plus white out. investors dumped stocks. we look for the safe haven. finding that bottom stop. recession. growth scare. or rebound. where does the stock drop start -- stop? consumer debt is rising, we get the latest read on the housing market with president of markers construction group. from new york, i am alix steel, welcome to bloomberg markets. i'm looking at the bear market for the s&p. that number, 3837. we are all from that. guy: i am setting myself up for a tongue twister. where does the stock drops stop? it is something i'm going to get all of my guests to say today, going to have fun with that. the month on month, -2.4. negative -- third negative month in aim row. the economists were looking for -2.3. we are worse than expected, revisions are worse than expected. alex, it has gone from the twos to the fives. that is going to have an impact. the fed is going to be paying attention

alix: give me a perspective for snap. if it is a macroenvironment issue, they are all going to get hit with that. are they want -- are there ones that can manage it better than app, or are there advantages that knapp might have? >> the pain that we are starting to feel -- we just got back from marketing in europe and internationally. it is international -- it's international branding campaigns are softening. you do not want to be exposed to somebody who is branded. twitter, if it were not for what was going on with elon musk, they are more exposed to international. there is a separate situation that is putting some insulation around that stock. in terms of what would fare better, companies that are search based -- those ones are fairly insulated. companies that have a model that goes beyond simple advertising. amazon with aws or google with the cloud business, those will provide insulation, as we go through a ship -- we session mary environment -- a re cessionary environment. guy: more lines coming out of the ecb. they sh

alix? alix: stay tuned, joined his son dab digital radio in the london area and if you can't head up there, we are now a podcast on spotify and apple, so check us out. this is bloomberg. ♪ another crazy day? of course it is—you're a cio in 2022. so what's on the agenda? morning security briefing—make that two. share that link. send that contract. see what's trending. check the traffic on your network, in real time, with the next generation in global secure networking from comcast business. lunch? -sure. you've got time. onboard 37 new people, with 74 new devices. does anybody have any questions? and just as many questions. shut down a storm of ddos attacks. protect headquarters and the cloud. with all your data on the nation's largest ip network. whoa, that is big. ok. coffee time. double shot. deal with a potential breach. deal with your calendar. deal with your fantasy lineup. and then... that's it? we feeling good? looks like we're feeling good. bring on today with comcast business

alix: here in the u.s. it feels like the front end of the bond market is the only thing that makes sense. for other moves, kriti gupta is looking at the latest. >> a mixed picture when we are looking at what the stock market is doing what guy was saying is happening in europe, but if you look at the stock market, up .5%. if you look at an intraday chart you would see a lot of technical levels coming into play. there is not really a fundamental driver here in terms of what the investor base is thinking, but simply a question of volatility, low liquidity, and those technicals driving the story. you do see the higher inflation report. that downside momentum is not happening as quickly as what wall street was expecting, therefore you have two-year yields flat, but you have seen volatility. that also happening in the bond market as well. whatever happens in the bond market is what is happening in the dollar. the dollar is marginally weaker today, the boosting the euro, a lot of those currencies that have seen we

alix: price target is 165. you want to buy the dip or do you want more rewriting to the downside. >> right here in the low to mid one 30's is a great point for walmart. there's still investor interest in defense prayed as the year progresses, the consumer may become more stressed as inflation remains at high levels. that could continue in the double-digit range for the balance of the year. it could be traded down part i think walmart is well-positioned on that dollar spent. so we already passed the labor issues. better staff of the current demand environment. we see the seasonal category removed -- improved. i think you are seeing progress towards improving their business. as we look towards the summer, now in august and i think you'll see a much better strong and see those pressures from q1. guy: what is the read cross into target? >> we don't normally cover target. the range is very healthily given the walmart was able to -- big ticket was actually positive. from a demand perspective that would be a positive

alix: and it's may 31, right? this is potentially at start of maybe we will see in terms of the photo op of this white house engaging a little bit more. with these issues. annmarie: and the executives that deal with them. alix: there is a scapegoat situation that will also be unfolding over the next few months. guys, leave it there. much more coming up in the next two hours. mike, annmarie, thanks for joining us. coming up, we'll continue this conversation and how the fed can avoid a hard landing. our next guest says probably. a landing will be bumpy. we'll talk to john hayden solt /* /* soltes fuss -- so -- stoltzfus. this is bloomberg. ♪ alix: all right. the last trading day of the month of may and we're picking up a downside here. the s&p looks to be off by 1 1/2%. abigail has been tracking that for us. abigail: prior to the start there was green. we have declines that's weighing. obviously on the index. the s&p 500 is looking for the second down month in a row after a very difficult april. you have the nasda

alix: we appreciate that. ok, coming up we will stay with the inflation theme and look at it from a business angle. we' break itl down withl -- we'll the ceo of godiva. that looks good. that's next. ♪ ritika: this is the principal room. the good rx co-founder is coming up. this is bloomberg. ♪ keeping you up-to-date with news from around the world, this is first word. boris johnson is vowing to ramp up pressure on putin's cronies by driving dirty money out of the country. that will include cutting -- for pandemic hospitals and boosting disadvantage regions. he outlined the agenda and parliament. the clean did not come because she had mobility issues. -- should -- finlan is saying itd wants to join nato and three out of four finns now support joining nato. and china is tightening pandemic restrictions and shanghai and expanding a mass testing -- in beijing as more people are shipped off to isolation centers under a new definition of what it means to be in close contact. they are looking at 3400 new infectio

>> this is bloomberg markets with alix steel and guy johnson. ♪ alix: it is 30 minutes into the u.s. trading day. here are the top market stories we are following. say goodbye to a tough week. stocks down friday, is there any reason to be bullish? high yields highest this month since the pandemic. we spit -- speak to dear says higher farming costs are hurting the man. you've got companies between inflation and a growth scare. welcome to bloomberg markets. those earnings are key. we haven't seen revisions to the weekend demand. guy: i can't remember the last time i heard sparkling in the headline. it is a friday. i think the deer earnings are fascinating. they are second derivative margin pressure. our customers are facing arjun pressure. we are going to suffer, as well. we've got a cost issue. this is something i think, increasingly, given what is happening with the president in asia is something we have to focus on. there is a lot going on today. none of it is particularly good. you've got the word sparkly in the headline. alix: 1%, the y is in question without one. guy: there was g

alix: i want to end on twitter. apparently elon musk is dropping plans to partially fund his purchase of twitter with a margin loan. i wanted to understand what you understand from that. does it mean he is going to walk away. doesn't mean he feels confident he can get a lower price? what was your take away from that? dan: i think a slight percentage chance increase goes up that he will do the twitter deal, but it is still 50-50 in terms of the odds. i believe there's a better chance of me playing for the golden state warriors in the playoffs than that happening. so it is a -- so is it a lower price point, or does he walk away from $1 billion? that's why the stock is trading at $39. either it is a lower bid or yields would drive him to walk away. a slight positive for twitter, there don't look to be many twists and turns ahead in this circus show. alix: appreciate the insight or get a day to have you on. thanks very much. this is bloomberg. ♪ guy: around 30 minutes away from the european close. we are coming into a

alix and i have a fantastic cable show to go. will be joining you on bloomberg dab digital radio in the london area at the top of the hour. you can also find us on all of your bloomberg devices in the podcast will be available later. the s&p trading 4031. it is off the lows. where does it closed today? great to have alix back. hope you enjoy the show. this is bloomberg. ♪ >> from the world of politics -- >> this is good news for the american people. another strong jobs report. we have seen 8.3 million jobs added in the u.s. economy. >> to the world of business. >> secretary granholm told producers, please produce more oil, the rest of the world is looking for it. >> this is "balance of power" with david westin. david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power." we start this week where we left off last week. that is concerned about inflation. we will have the cpi numbers on wednesday and president biden says he would like to talk to us about it on tuesd

alix: fair enough. one micro signal that thing could obviously lead to market signals is the risk that russia 's gas supply gets cut off. i wonder if we focus on mainland europe for a moment, as your base case if something like that happens? what kind of recessionary scenario might we be looking at? silvia: looking at the politics, to be honest the western has largely refrained from banning russia's energy exports so far. even the oil embargo that was put on the table not so long ago is looking increasingly unlikely to happen anytime soon, and gas is a much more sensitive kind of input for europe, because europe is a lot more dependent on russia as a single exporter than it is on russia as the -- as the single exporter for oil. politics doesn't point to a huge risk of european stopping to buy russian gas. at the same time there might be disruptions from the russian sites, so a deliberate decision from russia to cut off the supply, also intentionally nonpayment according to the new scheme. if that were t

alix: it is such a tough spot with that. i wonder, they say it is going to be short-term and they will roll it back. in your experience with this kind of stuff, does this stuff get rolled back? christyan: it is interesting because when rishi said when oil prices go back to historic normal prices, define normal. what this will do today is effectively elevate prices only because you're sort of delaying investment even further from a negative starting point. in other words, if oil continues to rollover at $100 and stay within the one under $20 to $150 range in the medium-term, our long-term cost is $80, then i don't see how you can rollback particularly if it remains elevated, so i think this will be a moving goalpost as far as how to review the sort of levy going forward. it is going to be interesting to see how the government defines normal prices women go beyond russia and the risk premium in russia because i think, is this due to russia or an underinvestment problem that has been caused over years, i can more towards a supe

we will go to alix story -- we will go to alix's story in the next block because i think it is relevant to the u.s. and the economy entirely. u.s. continuing to build inventories, understandably considering the trade story around the world. that is the data right now. markets firmly in focus. alix:alix: all of that really leading to the question of the day. what is below 4000 for the s&p 500? what kind of washout are we going to see if we break below that? katie stockton is founder and managing partner of fairlead strategies. we wanted to get the technical take of that. if you go below 4000, what is next? katie: welcome back to you. the level i was watching was 4200. 4000 to meet is basically a foregone inclusion at this point. the 4200 level was on three different technical factors, one being a fibonacci retracement level, and those are very common ways to discern importance on the charts. with this report we received, the s&p 500 support level based on the same fibonacci retracement is roughly 3815. we use support levels as a gauge of downside risk. they are not really predictive, but

alix: whose fault is that? you mentioned that panorama reported about 34% of these districts didn't even person -- even participate in trying to get this funding, so who is to blame? joe: of course, the pandemic has meant there's less money available for the u.k. money to spend on its flagship projects, but there is nonetheless and ability of the government to move from whitehall its own central government budgets to the rest of the u.k. and that is not what we have seen as much of as we could have so far, and, yes, there are challenges for local councils. do they have the resources to spend the money given to them? that was something told to me in the course of reporting on this story. they lacked the people to effectively deploy these funds, so lots of challenge. guy: the bank of it was speaking today. what are we hearing from them about what comes next? is there an opportunity to play catch up? joe: the clearest level we got was forcing holders of commercial property on high street's to rent out their shops

alix: wow. if you have that, 50% or 20% in the next month, where are -- 15% or 20% in the next month, where are you hiding out? with it: at this point -- vincent: at this point you have to look at returns. even if you have cash, you are losing purchasing power. so where do you hide? you are losing on both ends. credits, for and diversified investor, credit is widening. commodities are expensive. guy: what is left? [laughter] vincent: short-term you have to wait a little bit. guy: so you take the hit on cash? vincent: yes. you are waiting. and i do not believe we are yet there. guy: what will you be looking forward to make you want to put that cash to work? vincent: to have it much better data points in europe and in the u.s., and or to have -- on the gdp front. unfortunately, these two conditions are not being met, so it is better to think about liquidity, to choose names of stocks or -- with a very high profile, good balance sheet. to buy and not to believe in miracles. so, this activity is key

alix: we have realized a rise in covert cases. apple delayed return to office and going back to three days a week because of it. talking about travel, are you noticing anything on your own front of how you're going to manage your company and employees, and also how people are reacting to that? tim: as a set, we have our sales team from around the world here in portland. they have all traveled here. we are all beginning to learn how to live with covid, been careful, wearing masks when appropriate. i do see there is a reduction in travel, dismiss travel for our teams over prior periods. you know how to operate a business now with covid using technology like we are using today. guy: tim, i would love to come and visit you in portland, but the dollar is pretty strong right now. it is getting pretty expensive to come to the united states. how is that strong dollar impacting what you are thinking about? tim: again, our business is global, so when we are buying merchandise for consumption in the u.s. at also makes our products more expen

alix: thanks. good to see you. talking about china, because as much as we talk about tech in crypto, china is also a risk to the global markets. what is the relevance here? how important is it? >> we saw evergrande last year, but the bonds are now down 65% year-to-date. that makes of the third worst performer excluding russia in all of emerging-market debt after ukraine and belarus, so that makes it clear. if you think about property developers in the emerging-market universe, more than half our trading below $.60 on the dollar, a high probability of default. a spillover in country guard and another large private developer in china are ones we need to watch, those down between 10% and 20%, so that is where the pain will probably circulate. >> is this process under control? will it be a systemic problem? >> if the fed does not step in, yes. we have talked about what china can do to divert defaults with evergrande. we talked about maybe having a strong clause ice sovereign come in and build amount. we see none of tha

alix: coming up, we will head back to davos. we will get the latest on the saudi investment manager. ♪ >> we do not have a lot of capacity. 2% or lower. it is very low. right now, the price is going down quickly. very soon, there will be 100 million barrels or more. alix: we want to go back to davos. >> joining me is the minister. we heard about capacity. we know you are trying to build your capacity. are you open to attracting foreign investors to directly invest? >> first of all, let me say that we are open to investing across the board. saudi arabia is doing better than ever. we had coming out of the pandemic, of multiple crises. our delivery against 2030 is ahead of schedule. i can cite a number of metrics that we have exceeded, but our commitment to the energy sector is consistent with our policy over many decades. it will continue to be a key anchor, in terms of the -- delivering predictable sources of energy, oil and gas. gas will be expended. the capacity is being tech -- being tested today. there is also going to be a

alix: we really appreciate your perspective. jason furman, a harvard university professor and formal -- former council of economic advisors. 5% is unreal for 30 year. we are going to look at how inflation is now heating retail companies. we are going to talk with jennifer hyman. that is coming up next. this is bloomberg. ♪ ritika: this is bloomberg markets. you are looking at a live shot of the principal room. coming up, active expertise. that is at 3:30 p.m. new york time. this is bloomberg. keeping you up-to-date with news from around the world, here is the first word. u.s. house has approved a 40 billion dollar emergency spending a bill for ukraine. the measure pace for new weapons and provides economic and humanitarian assistance. it is significantly larger than the $33 billion president biden asked for. the bill now heads over to the senate. the u.k. and eu are at it again over the post-brexit deal for northern ireland. liz trust says the latest proposals on trading arrangements won't work. she signaled the u.k. would tak

alix: what is the tipping point? what is going to move you up tomorrow -- to look more like the u.k.? chris: it is just a matter of time. i think it is more shielded than the u.k. in some respects. the manufacturing sector will be vulnerable. we saw falling orders as a result of the war in ukraine. but in the u.k. you have brexit, which is dragging on exports in the u.k. so on both sides of the channel you have got manufacturing being dragged down. the key to watch out for here is just how resilient eurozone numbers remain in the coming months as the crisis continues to rage. guy: chris, are these economies that can take big rate hikes? still have five rate hikes this year. you have got a debate -- a debate at the ecb about whether or not we should be seeing 50 basis point hikes. holtzman out talking about that today. is the market mispricing what is happening here? are these economies that can take such rate hikes or do you think ultimately both at the bank of england and ecb are going to have to back off? chris: it

>> this is bloomberg markets with alix steel and guy johnson. alix: 30 minutes into the u.s. trading day on this monday, 23rd. the top market stories we are following. the stocks shake off seven straight weeks of losses as china unveils a plan to support the economy and president biden hints at possible tear for leaf. the semi giant sets at site on vmware. the stock is down by about 5% in the market. davos in the path to deglobalization. more leaders tackle the effect of a globalized world. we will talk to executives for the next two hours. welcome to bloomberg markets. it feels like we all forgot we had a bear market on friday. guy: it did not last long and we rallied through it and there was some options action in there as well. we seem to have forgotten and moved on relatively quickly. the scars are going to take a while to heal. there's kind of a pause as everyone focuses on the good news. if we get another eight weeks out, that's a record. we are in the outer edges of what markets do right now. i think this will be a dad owes themed week -- davos themed week. the issue o

tom: right now we are with alix webb, a quicktake reporter. excited. -- encyclopedic with this technology. to me, alex webb is more on tesla. in my reading of tesla, you mentioned the 700 number on a margin call on tesla. maybe it's 500, maybe 700, the answer with the 41% drawdown is tesla is very. is the announcement about twitter or mr. musk and tesla? alix: it could be any number of things. we have seen tesla shares close about 727 yesterday. if 700 is the margin core point, they are knocking on the door that. you could also say maybe it is testing where the natural twitter share price should be for this bid. this calls down 18%, in the 30's now, and the final possibility is that yuan is being sarcastic. -- fillon is being sarcastic. he is saying i will put this on hold because of the basis point. does not come across in tweets. jonathan: they are asking you to work out what someone is thinking. that is impossible below this focus on the deal. do we know whether the financing is lined up among the structure, has elon musk signed off on anyt

alix: it is 30 minutes into the u.s. trading day on tuesday, may 3. here are the top market stores we are following for you at this hour. the global bond selloff rises about 3%. [indiscernible] investors are bracing for a 50 basis point hike from the fed tomorrow. russia dodges. [indiscernible] scotus shocked. the supreme court will overturn the landmark roe v. wade, which gave women the constitutional rights to abortion. according to an initial draft. president biden reacts and says he will work. welcome to bloomberg markets. die, it is a tuesday before the fed wednesday. what was on the bond market this morning is quickly reversing. guy: absolutely. the data may be about to reverse that. it is a forward-looking indicator is what's happening in the labor market. the data we are seeing at the moment looks a little stronger, but maybe we all anticipated in fact, the prior number has been revised higher. this number comes through massively higher than anticipated. 11 million, 549,000. the market was looking for 11,200,000. as i said, that prior number h

alix steel, if she is watching, has a huge smile on her face, u.s. mortgage rates and jumping to 5.27, the highest since 2009. i think she managed to pick the bottom for mortgages in the u.s. she is back on monday and i i suspect shall be talking about that. the other thing to mention as well is the u.s. treasuries, 10-year, 30-year up sharply. the 10 year trading north of 3%, up by nine basis points. there has been a significant spike higher in yields in the u.s. over the last hour or so. significant move lower in u.k. yields over the last few hours. i don't know what the answer to our question of the day is because i don't know if we should be focusing on growth or inflation. the market, i think, cannot make up its mind either. are we passed the hawkish news, are we at peak hawkish this? it could be a plateau rather than a traditional v shape up and down. where are we? which one of those should we be focusing on? are we atpeak hawkish this? mike mckee, joining us, as is vincent cignarella, bloomberg macro strategist. what do you think is the answer

alix steel is off. welcome to "bloomberg markets." friday was ugly. would you expect this monday morning to see a commencing bounce back for stocks? gina: normally after such a mess you would get a little more optimistic about the day after. the problem is there's no evidence of capitulation in that price correction, so when we look at things like momentum and breadth, they are still holding at much higher levels than you would normally expect considering the degree of price correction. so until we get some momentum and breadth capitulation, i think the wiser strategy is to fade all bounces. guy: it is interesting. we initially faded the move first thing this morning. futures have been in and out of positive territory throughout the day. the nasdaq is up around 0.5% but already off session highs. let's talk about the data. we are getting the ism manufacturing numbers coming through at 55.4, well below the survey we were anticipating at 57.6. we have come down from 57.1 to 55.4. let's dig into the details because they always matter. the prices paid com

market. sanctions on exports are putting the whole region on the verge of an agricultural crisis. ortiz alix pinion reports from mexico. cylinder puzzles him, but last year i planted 3 hector's but this year only one year, due to rising prices for raw materials and especially due to the shortage of russian fertilizers caused by the imposed sanctions. sergio garcia has had to play less corn and tomatoes this year. over the past decade, mexico's agricultural sector has become more dependent on russian fertilizers, particularly urea. according to preliminary estimates, mexico needs about 6000000 tons of fertilizer this year, philip. without other school, nissan is not getting these problems are not related to a long standing friendly partnership, but are explained by the difficulties in transporting goods on a global level, which arose primarily because of the situation with russia and ukraine. therefore, it's currently difficult to import fertilizers into mexico st. but i think that the growing crops with our fertilizer could be a real disaster from mexico and if the moment villas at the momen

rob marciano has the forecast in a moment, but first a bcs alix perez leads us off. tonight a massive tornado touching down in michigan debris swirling in the air people running for cover with the twister bearing down a major tornado strikes here. video just in showing the utter devastation left behind in gaillard buildings ripped apart state police warning people to avoid the area businesses along this street suffering heavy damage looks like part of hobby lobby, ross has gone authorities issuing a tornado warning late this afternoon, urging residents to take shelter immediately one hospital in the area confirming they're treating the injured so far, no word on any fatalities due to the storm. and lindsay authorities in michigan are just now beginning the process of assessing the damage there and the threat of severe weather in some areas continues through the weekend. lindsay thanks to alex and abc, senior meteorologist rob marciano joins us now and rob timely storms and the spreading heat out for us. well, lindsay, the energy that brought that tornado to michigan

market. sanctions on exports operating the whole region on the verge of an agricultural crisis. ortiz alix pinion reports and mexico cylinder puzzles. in the last year, i planted 3 hector's but this year only one year, due to rising prices for raw materials, and especially due to the shortage of russian fertilizers caused by the impose sanctions. sergio garcia has had to play less corn and tomatoes this year. over the past decade, mexico's agricultural sector has become more dependent on russian fertilizers, particularly uria. according to preliminary estimates, mexico needs about 6000000 tons of fertilizer this year. without us going to jonathan, not getting these problems are not related to a long standing friendly partnership, but are explained by the difficulties in transporting goods on a global level, which arose primarily because of the situation with russia and ukraine. therefore, it's currently difficult to import fertilizers into mexico st. but i think that the growing crops with our fertilizer could be a real disaster from mexico and if the moment villas at the moment farmers ar

on the verge of an agricultural crisis. ortiz alix pinion reports from mexico silly brussels in last year. i planted 3 actors, but this year only one year, due to rising prices for raw materials, and especially due to the shortage of russian fertilizers caused by the imposed sanctions. sergio garcia has had to play less corn and tomatoes this year. over the past decade, mexico's agricultural sector has become more dependent on russian fertilizers, particularly uria. according to preliminary estimates, mexico needs about 6000000 tons of fertilizer this year, philip. without other school nissan is not getting. these problems are not related to a long standing friendly partnership, but are explained by the difficulties in transporting goods on a global level, which arose primarily because of the situation with russia and ukraine. therefore, it's currently difficult to import fertilizers into mexico. sim, blessing that the current crops with our fertilizer could be a real disaster from mexico. and if the moment villas at the moment, farmers are considering different options to get out of

on the verge of an agricultural crisis. ortiz alix pinion reports from mexico, cylinder brussels. in the last year, i planted 3 hector's but this year only one year, due to rising prices for raw materials, and especially due to the shortage of russian fertilizers caused by the imposed sanctions. sergio garcia has had to plan less corn and tomatoes this year. over the past decade, mexico's agricultural sector has become more dependent on russian fertilizers, particularly urea. according to preliminary estimates, mexico needs about 6000000 tons of fertilizer this year without others on each other, not giving these problems are not related to a long standing friendly partnership, but are explained by the difficulties in transporting goods on a global level, which arose primarily because of the situation with russia and ukraine, therefore, it's currently difficult to import fertilizers into mexico. sim, blessing that the growing crops with our fertilizer could be a real disaster from mexico and at the moment. villas at the moment, farmers are considering different options to get out o

market. sanctions on exports are putting the whole region on the verge of an agricultural crisis. ortiz alix pinion reports from mexico. new portfolio. last year i planted 3 actors, but this year only one here due to rising prices for raw materials, and especially due to the shortage of russian fertilizers caused by the imposed sanctions. sergio garcia has had to plan less corn and tomatoes this year over the past decade. mexico's agricultural sector has become more dependent on russia, fertilizers, particularly urea. according to preliminary estimates, mexico needs about 6000000 tons of fertilizer this year. without other school, nissan is not getting to these problems are not related to a long standing friendly partnership, but are explained by the difficulties in transporting goods on a global level, which arose primarily because of the situation with russia and ukraine. therefore, it's currently difficult to import fertilizers into mexico sim, but i think that the growing crops with our fertilizer could be a real disaster from mexico and if the moment villas at the moment farmers are con

market. functions on exports are putting the whole region on the verge of an agricultural crisis. ortiz alix pinion reports from mexico. cylinder puzzles him, but last year i planted 3 hector's but this year only one yet due to rising prices for raw materials and especially due to the shortage of russian fertilizers caused by the impose sanctions. sergio garcia has had to plan less corn and tomatoes this year. over the past decade, mexico's agricultural sector has become more dependent on russian fertilizers, particularly urea. according to preliminary estimates, mexico needs about 6000000 tons of fertilizer this year, philip, without others clinician is not getting to these problems are not related to a long standing friendly partnership, but are explained by the difficulties in transporting goods on a global level, which arose primarily because of the situation with russia and ukraine, therefore it's currently difficult to import fertilizers into mexico. sim, blessing that the growing crops with our fertilizer could be a real disaster from mexico and at the moment. villas at the moment, fa

this is bloomberg markets: european close with guy johnson and alix steel. guy: 4:00 in london, 30 minutes to go until the close. stoxx 600 up, luxury stocks doing quite well because china is going to open the door after a. of long suppressed growth. you also have the euro-dollar on the move. we have just seen comments from governor waller over the fed. the governor supporting hikes. to bang israel debate over whether you get those kill or more 50 basis point hikes from the fed. governor waller coming through on the hawkish and end, talking about several 50 basis point hikes, talking about moving above neutral but cautioning beyond that and is supporting the move to neutral by year end end. 50 basis point hikes could be close to bang 2%. keep hiking through the, we could have an awfully long way to go. potential for the ecb to go faster. we have seen a harmonized print out of spain and germany. to not to discuss. then factor and bang what is happening with china, a reopening trade will ease demand and supply, which could help deal with inflationary headwind.

she was like a firework, but without artificial trex, alix blue. say that was a very, very new phenomenon such belcher, so he says he 1000 of incredible, brigitte bardot was the center of attention. and there was no one like her of them at all. and because she lived in sancho pay, the whole place was given her reputation as i said, we're not gonna lose, but since it is ebony, but since you were 2 or more since she was considered a scandalous actress because she took off her clothes now is it sandra pay was considered the 4 court of hell, a place of debauchery on the place, but sank suny when bridget came here to shoot her, the whole world came over and the fans, the pepper at sea leap, brigitte bardot, a child of the city, brought enormous fame to sandra pe, appleton lumala formed amicably as the summer, always this of the call moss became the beach club of the stars and those who wanted to be close to them. the former fishing village of santo pe became the epitome of unbridled swat of evil. and where she was at home, he was to the german multi mil

she was like a firework, but without artificial trex, alix blue say that was a very, very new phenomenon such belcher, so he says it 1000 of incredible. brigitte bardot was the center of attention. and there was no one like her of them at all. and because she lived in sancho pay, the whole place was given her reputation. as i said with at least gonna lose my student id is ebony. but if you were to remove some, she was considered a scandalous actress because she took all her clothes, nose and sandra pay was considered the full court of hell. a place of debauchery on the place, but sank suny when bridget came here to shoot her, the whole world came over and the fans the pepper and see the back. brigitte bardot, a child of the city, brought enormous fame to central pe appleton lumala. fundamentally the summer, always this of the co moss became the beach club of the stars and those who wanted to be close to them. the former fishing village of santo pay became the epitome of unbridled swat of evil. and where she was at home, he was to the german multi millionaire and playboy. going to zach's.

this is bloomberg markets, european close, with guy johnson and alix steel. we are heading into the end of the day here in europe. we are awaiting the fed. the price action looks like this. european equities are falling off into the end of the day. we are down by around .8%. the euro-dollar is catching a bit. keep an eye on italian yields. you want to pay attention to that, it is a key line in the sand. brent crude is definitely catching a bit. we are going to talk about this energy embargo the europeans are imposing on russia, fg

haidi: bruce richards, marathon asset management ceo speaking with alix steel. hocker central banks announced the top risk for investors. take a look at this chart. thank of america finding 31% -- bank of america 1% citing monetary policy is their top concern ahead of other worries. japanese stocks are starting to look more attractive according to baron berg -- berenberg. they are more appealing than elsewhere. still some risks, so they are suggesting hedges against stagflation. shery: coming up next, we speak to the council of foreign relations about latin america's key political challenges. the war in ukraine, and the u.s.-china rivalry. don't miss that conversation coming up from panama city next. this is bloomberg. ♪ shery: you are watching daybreak australia. i'm vonnie quinn with first word headlines. jay powell says the fed will keep raising interest rates until it sees clear evidence that inflation is cooling. howell made his most hawkish remarks yet at a wall street journal event saying he won't hesitate to push rates past neutral if needed. he repeat

this is "bloomberg markets: european close," with guy johnson and alix steel. guy: we had a flash crash in stockholm a little bit earlier. like volume probably a factor. it was not hacked and it was not a technical glitch. we will talk about this in a little bit more detail earlier on. that market was down 8% at one point today. we recovered from there. partly a reaction to what is happening in china, partly a >> into that big selloff friday we saw in the united states. euro-dollar trading down by 0.2%. fairly stable today relative to the volatility we have seen of late. branch tracking down towards $100, now down by around 3% today. the debate in europe is whether or not we get a ban on russian oil. it is a tricky thing to do. we will get more details in just a moment. kriti: a little bit different than the risk of sentiment in europe, but simply, a little bit of paring some of those gains. 30 minutes ago i was here pointing to over 1% gains in the nasdaq. that has since been pared -- has been pared. whatever technical bounce that was driving the market earlie

haslinda: that was bruce richards, who wealth and management chairman and ceo speaking with bloomberg's alix steel. let's do a quick check of the latest business flash headlines. twitter's board says it intends to enforce elon musk transaction at the agreed price of $54.20 per share. the comment came in a statement to bloomberg news earlier. twitter confirms it is losing three more senior employees, reflecting growing uncertainty while waiting for elon musk's takeover. saudi aramco is considering trading amid a boom in oil prices in what could be one of the biggest loosening's of this year. sources say the state-controlled company is working with banks, including goldman sachs and morgan stanley. rishaad: let's check in with these markets. little more weakness here with the chinese side of things. equities on the csi, down to quarters of 1% down. hang seng index across that, the tech side is being dragged down. as we have those comments from the vice premier. which were meant as sure tech investors. but seemingly, they've done quite the reverse here as well. seeing how covid hurting china is