this is bloomberg. ♪ >> welcome to bloomberg markets. kriti: let's dive right into the price market here. green on the screen with the equity market. ordering up about 1% on the day. this is significant. it is the official first real trading day of the new year. equity markets were open last week as well, but now you are really seeing volume elevate. volume is 30% higher on a 30 day average. is it taking into account holiday moves, but everyone is back from vacation and back at trading desks, back to investing in the equity market. but it's not just equity market alone. the nasdaq outperforming tech, really leading the charge here. the bond market comes to the forefront. they made a little bit of a u-turn and then some. yields now lower on the day by about four basis points. stocks and bonds both bid at the same time. no longer seeing one or the other dynamic at play. yields slightly lower, the dollar really taking a hit here. weaker by about 0.7%. now that we see the weaker dollar, it fuels some of the game from the commodity complex. c

this is bloomberg surveillance early addition with francine lacqua. >> morning and welcome to bloomberg surveillance

this is "bloomberg daybreak: europe". i'm dani burger in london, these are the stories that set your agenda. the imf phrases is global growth outlook for the first time in a year, u.s. resilience and chinese reopening fuel demand. a hedge fund warns that ballooning debts are poised to wreak havoc rivaling the great depression. ubs be. ats. it announces an $8 billion buyback. we speak shortly to the ceo. let's get to the details on these numbers. a $5 billion buyback, stronger net interest income, higher rates benefiting them. fourth quarter net income at 1.5 $6 billion, the estimate had been below 1.3, total revenue, all of those figures beating. what was weaker, asset management, their trading business, equity sales and trading was a sizable miss, the figure came in at $883 million, asset management revenue pretax was weaker than expected. we are seeing this across banks, that interest income allowing them that hefty $5 billion worth of buybacks. let's get to swedbank, those earning sending the tape, net interest income

this is bloomberg. jon: welcome to bloomberg markets. kriti: we are seeing green on the screen because equity wasn't coming out on top. the s&p 500 is up but if you look at the nasdaq, almost higher by 1% which is crucial when you talk about having tech on your side for a more sustainable rally. we are seeing two basis points higher with a softening in the bond market but as the yield goes higher, the dollar also slightly stronger by about one/10 of 1%. crude is trading with a 79 handle. before i throw to you, there is one stock i want to keep and i on and that is txo energy partners that did an ipo today. these shares are higher by almost 12% on the day. it is an energy company that is an ipo in a macro economic economy. jon: the energy transition will give us a lot of talk about a greener future. you highlighted that tech has been in focus so let's have a tech team starting with tesla which is up 10%. we are getting more headlines from reuters reporting that elon musk met with officials from the biden administration about the electric

the bloomberg scope. let's turn to a check of where we are headed in the markets. >> chip stocks, certainly want to watch with the open of japan and korea 25 minutes from now. in terms of futures and markets already online, the outlook today is pretty mixed. we have the asx 200 snapping a four-day advance. new zealand, still in the green. tokyo futures, and the red -- in the red, flat. what is driving momentum in the session is two factors at play, what we heard from fed officials, saying the terminal funds rate in the u.s. may top 5%. it had been a lot of expectation building and markets -- in markets that we could see a quick end to aggressive rate hikes. that seems to be somewhat squashed. we have a lot of optimism around what's happening in china, specifically the chinese stocks rally we are seeing, into bull market territory. we can see chinese stocks have broken through a key resistance level. this is the 200 day moving average in yellow. you can see in 2022, this 200 day moving average provided a l

this is bloomberg. paul: plenty more to come on daybreak australia. this is bloomberg. ♪ >> expect that we will raise rates a few more times this year. >> we still have more work to do. >> i currently favor a 25 point hike. >> i expect to continue tightening policy past this week --past this meeting. >> the fed will have to maintain rates at high enough levels. >> they will have to remain sufficiently restrictive for some time. >> i expect the policy rate will be restrictive enough that we will hold rates in place to let monetary policy do its work. >> we can and should adjust our overall strategy policy to keep financial conditions restrictive even as the pace slows. paul: comments from fed officials on the outlook for rate hikes. our next guest says a cut in 2023 is unlikely. let's bring in ig market analyst, hebe chen. they were fairly unambiguous when it comes to the path of rates in 2023 but we see some interesting price action on the equities markets. we had a mini rally in all the major u.s. in

this is bloomberg. haidi: still ahead, we get the outlook for renewables from george washington's university energy management is to do. take a look at how investors are pricing in a recession. what that means for corporate earnings in 2023. and asset management company representative is with us, next. this is bloomberg. ♪ lomita feed is 101 years old this year and counting. i'm bill lockwood, current caretaker and owner. when covid hit, we had some challenges like a lot of businesses did. i heard about the payroll tax refund, it allowed us to keep the amount of people that we needed and the people that have been here taking care of us. see if your business may qualify. go to getrefunds.com. haidi: our next guest says investors should look to equity once we see more pronounced downward economic earnings revisions. joining us now is william, a portfolio manager at milford asset management. great to have you with us again. what is your trigger point for being more optimistic then? >> we want to say earn

this is bloomberg. ♪ >> kind of a goldilocks report for the fed. >> bridges are starting to come down. >> wage inflation is starting to ease. >> they will continue to raise rates at the end of the month. >> 25 basis point rate hike. that still seems reasonable. >> more likely that they go 25 basis points. >> i think they could stop right here. >> we think they get to around 5%. >> the fed keeps pushing a tightening financial condition. >> you would assume they would go a little bit further. >> a harder landing. haidi: reacting to the jobs report. our next guest likes some beaten-down names. he is seeing some ability in asia. how much of your call is about the reopening in china and how much of it is the tech sector? in the likes of korea and taiwan? >> it is actually a bit of both. we are expecting a big turnaround this year for asian markets. there is still a risk of a global recession. asian markets have been through a severe bear market. the china reopening will be more about that. even the long-te

this is bloomberg. >> thank you. still ahead, we will ask rutgers university director why she thinks new zealand's prime minister was resignation was effective leadership. this is bloomberg. ♪ conventional thinking delivers conventional results. at allspring, we break away with purpose. harnessing data-driven insights and boundless curiosity. we dissect the market from every angle. helping to build portfolios that redefine what's possible. because investing isn't one size fits all. allspring. purposefully divergent. >> i think the main risk that exists is the economy decelerating as a result of this policy. i think they will take it up to the low fives and hold it there for a while. that medicine takes a while to work through the system. cumulative deceleration is the biggest risk. >> the blackstone president on his expectations. will onto asian stocks, investors are looking at the prospects of global earnings growth. joining us now, kathryn rooney vera from bulltick llc. let's start with this view of the latest gd

this is bloomberg. ♪ dani: good morning. this is "bloomberg daybreak: europe." fed officials pour cold water on markets as they see rates rising above 5% and staying there for a while. the hawkish message snaps the rally in u.s. stocks. apple is said to be preparing semi conductors made by broadcom and qualcomm. the iphone maker uses more in-house designs. plus a u.k. rocket launch bite virgin orbit fails to deliver its cargo. we were just talking over tar guest at citi that says it is the year of europe over the u.s. it will be rough going until then. you have jay powell who will be speaking later today after a whole host of hawkish fed speakers. bostic and daly are not voting members, but the message is loud and clear. they want to go above 5%. if they want a soft landing, why would they cut rates? asia stocks are dropping about 0.1%. we also had tsmc earnings that missed estimates, difficult time for chipmakers, especially those who are apple suppliers. cross asset, it is a wait and see of what we will get from that riksbank panel where we have various beagle

>> this is "bloomberg daybreak: europe". i'm dani burger in london, alongside manus cranny in dubai, with the stories that set your agenda. >> dow shares plunge in late trade after reporting a miss on sales and a grim short-term outlook. the u.s. economy providing encouraging signs for the fed's fight against inflation. plus, lvmh report slowdown in fourth-quarter sales, slumping china demand. the luxury goods sales this year started well. restrictions have eased. we speak to the cfo on bloomberg today. good morning, dani. i hope you are in the louis vuitton shop buying those extra little trinkets to send to me. or did you help the meat-eating bond traders question mark good morning, it is friday, and nothing broke. i am relieved. dani: i honestly thought we were going to say buying something for myself at louis vuitton, but i see, you want a little treat for your birthday. making an out of it. but look, the bond traders are holding well, doing shopping. at auction, even with the economic data and strong jobs market, bond ma

this is bloomberg. haidi: still ahead, samsung may report a decline in profit. plus new age wealth says and intensifying debate when it comes to risk management, their single -- portfolio strategist is with us next. this is bloomberg. ♪ >> it does mean rates have to be higher for longer in order to maintain the downward pressure on inflation to get it to converge to 2%. shery: james bullard there. our next guest says the recent fed minutes identify a debate within the central bank. good to see you for the first time this year. happy new year. let's talk about the fed minutes because to me, it read just like a warning to the markets. you don't cooperate them we will continue to keep having to tighten. we are now seeing this rhetoric about taming inflation. what do you make of it? guest: it was an intense debate about how far they have to go with rates. this idea of over tightening was addressed to jim bullard today also. he is in the game to be as hot as possible. there is the debate do you have to go

for more on this let's talk to bloomberg's edwin chang. what does this mean for china's chip ambitions and does it suggest a fundamental shift in approach? >> i think what we are witnessing right now is a re-think of investment in the way that perhaps over the past year on china's old approach of a stimulating it's chip industry. senior leadership in beijing has come to the conclusion that throwing money at the problem does not necessarily guarantee any result. in the current environment when china is running a record fiscal deficits and spending hand over fist to fight covid nationwide, i think chip spending was one of the areas that came up for review. in terms of the longer-term fundamental ambitions, that remains unchanged. china needs a viable chip industry essentially to counter what he calls u.s. and germany american dominance of of a vast plethora of technological spheres. i think right now they are considering ways to do it perhaps a little more efficiently. tom: the latest chapter in the great power competition around semiconduct

this is bloomberg. jon: i am jon erlichman. welcome to "bloomberg markets." kriti: i am kriti gupta. we ended yesterday's session unchanged. similar dynamic today. we are not seeing a ton of conviction in either direction. s&p 500 up 0.3%. that is green on the screen but let's not get too excited. that real selloff when it comes to the notes, 10 year yield at 3.62. jess minton will break it down for us, but in theory, the dollar should also go higher and it is unchanged. how much of this is repositioning and how much is sitting on the sidelines? keep an eye on the commodities space because there is green on the screen. nymex crude up 1.3%. jon: you touched on some of the macro themes and we will weigh that inflation data later this week. let's come back to that developing story, the bloomberg team reporting on possible activity by bluebell, maybe shaking things up at bayer? trading up about 7% today. bloomberg also doing reporting on the possible cvs oak street deal. cvs shares off in the neighborhood of 0.8%. bed, bath & beyond, a company that had quarterly

today's bloomberg big take examines that plummeting personal fortune, we are joined by our bloomberg wealth reporter, walk us through how someone could possibly lose $200 billion in a single year. >> it is a two-part answer. in late 2021, we saw equities coming off highs. in february 2022, you had the russian invasion of ukraine which had a large effect on the global economy, including rising inflation and interest rates going up, and that tanked a lot of stocks broadly, but particularly shares that did well during the pandemic, including tesla. and then you have elon's acquisition of twitter which was actually serious, and that no comes with consequences, it is constraining him in a way he has not been before, and is making tesla investors concerned that he is spending a lot of time on something else other than tesla, and you are seeing reactions in the share price at least in the short term. francine: thank you so much, anders melin with a wonderful story looking at the ups and downs of one of the most wealthy men in the world. for more, log in to your terminal or go to bloomberg.c

this is bloomberg. ♪ all anna: this is bloomberg markets. welcome to a special dish and of the program. it is martin luther king day, so no trading in the united states. bloomberg tv is live in switzerland. francine lacqua spoke with philipp hildebrand and ask about his inflation outlook. philipp: i think inflation will drop quickly. i think any of us will be surprised at how quickly we will fall. the problem is, it will fall quickly. so it will be the easy part, then it will get difficult to get inflation back to price stability. at the moment, i think the initial phase will be a rapid decline in inflation. >> what does it mean for central banks? you laid it out beautifully in your world outlook. if you are the ecb or the fed, do you have to be more careful how you manage this from now until the summer? philipp: i think central banks will continue their tightening path. they will be careful, focused on not losing the long-term inflation expectation anchor. i think we -- i do not see any chances frankly of easing, this year. i think the mark

this is bloomberg. ♪ >> this is bloomberg markets. i am ritika gupta. coming up, chicago mayor joining bloomberg tv 12:30 p.m. bloomberg time -- new york time. this is bloomberg. ♪ ritika: keeping up-to-date with news from around the world. here is the first word. i am ritika gupta. for the first time in year the -- has raised funds. that is .2% higher than the october forecast. the outlook was boosted because of resilience and demand and the reopening of china. eurozone on track to avoid recession. despite double-digit inflation and russia's invasion of ukraine, -- grade brexit is costing the u.k. at $1 billion a year. an analysis by bloomberg economic says everything from billion -- everything from business investment to workers. the report estimates the u.k. is 4% smaller than it might have been. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. this is bloomberg. alix: ubs beating profit expectations and the fourth quarter. it saying it

this is bloomberg. ♪ >> the old slogan going, i don't think there's any harm done and waiting 3-6 months to see the decision around the world, reduction of wages, etc. i'm on the side where it may not be enough. dani: jp morgan ceo jamie dimon on the flip -- on the fed's inflation fight. do you think it will go above 5%? julian, great to have you in the studio. good morning to you. there's been a lot of differing opinions, but one of the ones that struck me was gun lock saying listen to the market, don't listen to the fed. they think they will cut. who are you listening to? >> first, i think the difference between the market and the fed is not that huge. the market is pricing just below five. fed officials seem to suggest 5.25. so we are not miles apart, that's the first thing. we think that five is a good threshold. we will feel a bit more comfortable if the market was pricing slightly above five, but the reality is, the difference is not huge in terms of the peak rate. what matters more is when we r

this is bloomberg. -- i'm vonnie quinn. this is bloomberg. paul: let's take a look at how the markets are moving at the moment. how are we doing with tesla suppliers? annabelle: mostly moving higher but in line with the after-hours move we have for tesla up as much as 6%. in terms of the reaction it comes down to results that came through better than expected. a lot of strength showing for the company because there had been concerns building about demand from consumers for its ev lineup. we saw earnings coming in at one dollar 19 a share. better than forecast by analysts from bloomberg. the ev market saying it wants to increase output as soon as possible. forecasting to deliver 1.8 million vehicles this year. that it's good -- that is good for bigger suppliers. one set their moving to the downside are the chip names. that is the state of play with the ones in japan. they are leading the losses so far for the topics. that is down to the earnings that came through. asml forecast better than sales. profitability, that target missed estimates. la

this is bloomberg. david: all right. just ahead, we will be joined by our next guest to discuss u.s. efforts to start the great sector of china's chips act are. maybe we can also revive our coverage of baidu which is up 5% on the back of that story. we will talk about it later. also coming up, a look ahead at the first fed meeting of the year. the latest clues as to what the u.s. central bank might do and, more importantly,, what they might say. that is all ahead. this is bloomberg. ♪ rishaad: there we go. this is the calendar. chinese markets opening after the week of the lunar new year. shares rally last week. spending on terrorism suggesting a recovery gaining traction on the mainland. also we will get manufacturing as well as pmi data. on friday it is the big u.s. jobs data report, expected to show the labor market is starting to loosen but remaining for, from really consistent with nonaccelerating information. economic data coming from other places as you can see. also, central banks at the fore.

this is bloomberg. kriti: this is bloomberg markets. i am kriti gupta. an historical moment when it comes to the bond market. in the last two years, we have not had a shortage of his store coal moments. the federal reserve would argue the global monetary reaction to it. it is coming as we see even the most negative yielding debt return positive. we are looking at the bloomberg negative yielding debt index. it includes treasuries. the last holdout, jgb, japanese government bond, debt is turning positive. it is going lower and lower when it comes to the negative yield. the jgb story is crucial. inflation is becoming a global story. it is not coming down fast enough. catching up to japan in a way that is not great. they want more inflation after decades of starting to see the slowing growth, demographic changes. new management come into the central bank. yet, here they are, trying to suppress the yield moves, inflationary moves with the yield curve control. from a global perspective, you can buy a japanese government bond and get some yield out of it. where

bloomberg's tim culpan. let's take a look at other key things we will be looking out for today. 9:00 a.m. u.k. time, the ecb will be releasing its consumer expectation survey along with the latest economic bulletin. then at one p.m., we will have data from the u.s., the key cpi reading for december as well as the initial jobless claims figures. later today, we will hear from a couple of fed members, james bullard and thomas barkin are both due to speak. will they be hawkish? how will the cpi affect things? also 1:30 a.m. u.k. time on friday morning, we will get the latest figures from china. and remember, it is all about cpi today. coming up, traders from london to new york will be glued to their screens waiting for that u.s. inflation data. we will discuss what to expect and how it impacts markets next. this is bloomberg. ♪ >> i think we need -- on october 12, that was the end of the bull market, and now we are back in the bull market. the markets are telling us that the world economies are improving. dan

this is bloomberg. ♪ >> this is bloomberg surveillance, early addition with francine lacqua.

this is bloomberg. ♪ ♪ old school wisdom, with a passion for what's possible. that's what you get from the morgan stanley client experience. you get listening more than talking, and a personalized plan built on insights and innovative technology. you get grit, vision, and the creativity to guide you through a changing world. ♪ >> the inflation pressures seem to be abating commodity cost, shipping costs and they are coming down in the labor market we are seeing in our portfolio is cooling and we have a third less job vacancies in our company. wages, which have been running at 7% north america last year are now down. inflation coming down and takes off the biggest risk. alix: that was john gray with his views on inflation which takes us to the question, is this what a soft landing looks like? let's get to sam lynton-brown. weigh in on the question, is this what a soft landing looks like? sam: no, we don't think it is. what this inflation continue, yes but the parts of inflation, which is stickier, w

this is bloomberg. ♪ inside, outside, big or small, angi helps you find the right so for whatever you need done. with angi, you can connect with and see ratings and reviews. just search or scroll to see upf on hundreds of projects. and when you book and pay throug you're covered by our happiness it's easy to make your home an a check out angi.com today. angi... and done. francine: welcome back the open. 13 minutes into the european trading day. markets are trading sideways, not a huge amount going on. it is all about nonfarm payrolls jobs data in the u.s., and a little bit of cpi in europe. watch out for data points as we try to figure out what happens to monetary policy this month and beyond. tom: let's get back to one of the big bank stories of the year, in fact, first abu dhabi bank is no longer exploring a bid for london-based lender standard chartered. the bank spent months exploring options, including a takeover. for more details, let's bring in tom metcalf who runs our u.k. and middle east fina

carolyn: i'm caroline hyde a bloomberg's world headquarters. >> this is bloomberg technology. caroline: said he didn't's deal funds are stashed things away. ed: nelson peltz nominating himself to the company board. what could this mean? caroline: we talk with a venture capital founder backed about her new fund dedicated to investments and longevity. the spending power and influence of women and david -- women in diverse communities. first, let's check in on these markets because once again, it was a day of macro affecting your benchmarks. looking at the cpi print, the inflation data actually showing a drop in overall prices in the month of december versus the month of november. down 0.1%. month on month we still see that cpi showing that inflation has may be piqued. it's back up 6/10 percent. country world index up for five straight days. similar moves the nasdaq. five straight days is the longest winning streak we've seen since july 2022. the key move was in borrowing costs. yields, bonds, yields have come down by 12 basis points on the five-year. across the curve we see borr

this is bloomberg. ♪ rishaad: you are back with -- bloomberg markets. chinese travelers taking advantage of the freedom from covid curbs. it's in a rebound a source of travel market goes overall. here is more about where they are seeing pent-up demand. >> first of all, we only have 10 operating peninsula hotels. we focus on quality rather than quantity, and we focus on a small number. nevertheless, that is enough for us to see the trends around the world. we're in europe, paris, and also in asia. what we saw was that last year there was a very strong recovery in the u.s. and also in paris, in europe, when travel resumed. that resumption has been later in asia because the opening up came later. in japan were seen a great resurgence since october when the restrictions were lifted. now we are seeing that in china and some recovery in demand in the closer markets, hong kong, japan, as we know there is a large pent-up demand from the chinese for travel and we are expecting to see that too. 1.i want to make is that china has become a big market domestically.

this is bloomberg. shery: still ahead this hour, capital economics tells us why the expect the bank of japan to abandon yield curve control by april. but next, kpmg joins us with your outlook for china and why they expect a miss on beijing's full-year growth target. this is bloomberg. ♪ haidi: you are watching "daybreak: asia." markets will be watching key central-bank policy decisions this week, saying if the -- looking at rate decisions out of malaysia and indonesia and the pboc. we have 19 central bank has meeting at davos for the world economic forum along with thousands of policymakers, executive investors, bankers, billionaires. it is the first in person form at the swiss ski resort for three years. other eco-data to know, u.s. producer price index on wednesday. bloomberg economics expecting wholesale prices to decelerate. shery: a lot depends on china, the country's rapid reopening, december economic indicators on tuesday, along with four could gdp numbers. economist have been advising of china

welcome to bloomberg markets. we still have some macro coming in but i think the intel read will be interesting, particularly when you are looking at a resilient nasdaq 100 move. >> maybe this is being taken as idiosyncratic to intel. there is a bleed to other chip stocks but we will talk about that in a moment. pending home sales data that looks better than anticipated. 2.5, a positive number. the market was looking for -1%. that is much better than the negative 4% we got last time around. other data better, you could argue. the inflation numbers. let's look. that is what we focus on. the one-year inflation number revised lower to 3.9%. revised down to 2.9%. that number looks better. all the data looks better. maybe it signals the soft landing. >> you have a soft landing conversation, the hard data holding up relatively well. earnings it feels are clouding the macro picture. guy: absolutely. that leads perfectly into our conversation around intel. let's break down these numbers today. mike mckee as ever joining u

>> welcome to the bnn, bloomberg and bloomberg audiences. i am john hyland with the first word news. air defenses have been sent around moscow after drone attacks. cranes lifted them onto rooftops downtown. the same system was installed in the western suburbs near vladimir putin's official residence. in germany, a meeting of the u.s. and allies on military aid to ukraine has ended. there was no decision on whether germany will provide tanks to the ukrainians, but the new defense minister says berlin could move quickly if an agreement is reached. mayors facing an influx of migrants from the border into their cities are imploring federal officials for more help. 175 mayors are in washington meeting with president biden today. the number of asylum-seekers crossing the u.s. border has surged. bets for a technical recession this year. those surveyed predict gdp will shrink 0.6% in the second quarter and 0.3% after that. that as consumer spending stalls, business investment declines and industrial production weakens. the odds of recession in the n

this is bloomberg. >> welcome to bloomberg markets. >> let's dive right into the price action, makes picture when it comes to the equity market. premarket we were down by a lot. looking at the sba 500 is shrugging its shoulders a bit ahead of the long weekend. -- s&p 500 shrugging his shoulders ahead of the long weekend. tesla, banks, the narrative all that you take your pick. the stock market is selling off as well as the bond market, the 10 year yield hovering about five basis points higher. taking his cue from the stock market or the market taking its cue -- the stock market taking its cue from the bond market. what is he getting to me is that the dollar continues to be weaker. note clear direction for the bloomberg dollar index, 0.1%, some of it is a china reopening story, brent crude trading higher on the opening. >> we are so busy with opening stories let's start with key banking players. the stocks that had a jittery start for the most part. jp morgan, bank american -- bank of america, citigroup, wells fargo all in the green at this hour. continuing to roll through these earni

this is bloomberg. >> with the first word from i am lisa mateo. lisa: amazon cutting more than 18,000 jobs in the round of layoffs and at the corporate ranks. most of the jobs at human resources. the company has 1.5 million workers worldwide. on capitol hill, kevin mccarthy and republican still have not reached a deal to make and the speaker of the house. he has been defeated in six rounds of voting. 20 hardline conservatives are blocking his bid. there has been a lot of process late negotiations, still no resolution. federal reserve officials have reaffirmed their resolve to bring down inflation. they warn investors not to underestimate their wealth to keep interest rates high for some time. the u.s. is edging closer to send armored vehicles to ukraine. on wednesday, president biden acknowledged that fighting vehicles may be a part of another military aid package. the bradley is a true carrier a quick we anti-missiles. france said it will write write ukraine with global --. global news, 24 hours a day,

let's get to the bloomberg business flash. here is laura wright. >> a third member of sam bankman-fried -- sam bankman-fried's inner circle is set to seek a cooperation deal in the collapse of ftx. any deal would leave sam bankman-fried isolated after the ftx founder pleaded not guilty last week to aid criminal courts. bloomberg has learned apple will ditch a key broadcom chip from its devices by 2025 as part of its push to use more homegrown components. sources say apple also plans to have its own cellular modem chip in action by about the same time. apple is broadcom's largest customer, accounting for about 20% of the chipmaker's revenue last year. bloomberg sources say bhp group has struck a deal to sell australian coal to a chinese firm in the latest sign of easing trade curbs between the two nations. bhp sold two shipments of metallurgical coal to china for loading in late january. china slapped an informal ban on china -- australian coal in late 2020 as relations soured. tom: thank you very much indeed. time to check in

ed: really fascinating reporting on bloomberg -- from bloomberg out of china, baidu is working on something similar to chat gpt. and one point in monday's session the u.s. listed shares of -- adrs of baidu were up 2%, there was momentum behind the stock based on this reporting. we do not know a lot. what we know as soon march. what baidu would do, is the google of china, they're planning to embed this artificial intelligence platform into their existing services. what we know from a design perspective in terms of capability perspective is that baidu's chat tool or chat ai will give you a conversational response like chappy tuesday -- chat gpt. you and i have talked recent weeks about china's moving to artificial intelligence, the hype here in north america and beyond. luckily we have the right person to discuss it. the doctor of research of the distributed ai research institute. where do we start? let's start with the news and china. guest: it sounds surprising that baidu would work on a chat gpt product, has taken english language by storm. it would make sense, baidu being china's google,

bloomberg sources say the u.s. has confronted beijing with evidence suggesting chinese state-owned companies may be providing assistance for russia's war in ukraine. we are told the legend support consists of nonlethal military and economic assistance that stops short of wholesale and -- evasion of sanctions. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. manus: simone, thank you very much. coming up, microsoft loosens the purse strings to invest in the company behind artificial intelligence to chatgpt the call center call will never be the same again. b(jennifer) again. the reason why golo customers have such long term success is because we focus on real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement makes losing w

this is bloomberg. rish. rishaad: still to come this hour, and exclusive interview with the founder of the indian startup meesho, asking about competing with the likes of amazon and walmart as the company strives to get to profitability. that and more on the way. this is bloomberg. ♪ >> with the appearance of the inflation and the increasing of rates to try and stamp out the inflation, things have gotten harder. i imagine people today will say, when are we going back to normal like it was five or six years ago? it is important to note that was not normal, the best of times, and my belief is we are not going back there. rishaad: some remarks that were made by the oaktree capital co-chair. sailesh jha is still with us, chief economist and head of market research at rhb banking group. we have the selloff of equities is in u.s. and without weak retail sales, bad news was treated as bad news as opposed to good news because the federal reserve would not be as aggressive. does that change of view reflect anything

alix: this is bloomberg mark -- >> this is bloomberg markets. coming up, the cftc commissioner joining bloomberg tv at 2:30 p.m. new york time. this is bloomberg. >> keeping you up-to-date from news from around the world, bloomberg learned vladimir putin is planning a new offensive in ukraine. the russian president is preparing his country for a conflict with the u.s. and allies that he expects to last for years. the kremlin wants to show its forces can regain the initiative after months of losing ground. forcing ukraine and his backers to some kind of truce. customers using american express spent a record amount last quarter and the creek car giant critics revenue profit will surge well above estimates. amex has been tweaking rewards on many cars that helped add millions of new cardholders last year. global news, on-air and on "bloomberg quicktake," powered by more than 2700 journalists and analysts in 120 countries. alix: let's stay in that space, visas stock up by 2.5% and beat earnings estimates and analysts pumping price targets today. a la

this is bloomberg. shery: still ahead we will be speaking to investments about chinese advancements in biotech. coming out next, up next, or international ceo carol pepper says investors need to be patient, practical and proactive or what is set to be a rough first after we get her market outlook next. this is bloomberg. ♪ >> this is a soft landing report. >> a goldilocks report. >> this is the immaculate disinflation report. >> wage inflation is starting to come down and ease. >> the fed will continue to raise rates at the end of the month. >> a 25 basis point rate hike in early february still seems reasonable. >> you cannot write off another 50. >> i think they could stop right here. >> we think they will still get to around 5% by march. >> if the fed keeps tightening financial conditions and gets the fund rate into the five -- the chance of the economy rolling over into a harder landing is significantly higher. haidi: some of our guests weighing in on the jobs and wages data and what it means for f

i am john holland and -- john hyland, and this is bloomberg. amber: welcome to bloomberg markets. >> we are seeing green on the screen. the s&p 500 is flying. the bond market is also having some interesting moves. a little bit of volatility. down only about two basis points. 371 on the 10 year yield. the dollar does follow, dare i say tick by tick. now weaker by about .3%. weakness is not translating into strength for the commodities space. you are seeing crude trading, down about 4% on the day. >> there are some stock specifics that we have our eyes on. sales are moving higher after announcing they will be cutting the workforce by 10%. a company like microsoft is a laggard on the dow because they downgraded, concerned about growth in the cloud business. alibaba is the poster child for texturing right now. it looks like china is giving the green light to go out and raise money. taking off the regulatory shackles. today is day one for ge healthcare. initial trading, they were received pretty favorably. >> it still comes down to the earnings stor

let's bring in bloomberg's industrial reporter who covers the company for bloomberg news. let's start with what this job cut actually means. how important are those 2500 jobs for a company that has over 95,000 employees? ryan: that's a fair point but it does reflect that they are seeing a significant slowdown in some of their key manufacturing segments and are dialing back production as a result. particular in their consumer products division in the fourth quarter, every segment in the consumer-products division -- think of command strips and home improvement products, they all saw declines. we expect this to last through the first half of this year. so much so that they took the unusual step of issuing first-quarter guidance, which they don't typically do this time of year. in that, they said they expect first-quarter sales to be down 10% to 15% year-over-year. it's a clear example of the belt-tightening you mentioned. jon: we have been keeping tabs on the covid complications tied to china's reopening. can you give us a sense on how those covid-related issues are worth co

this is bloomberg. haidi: still ahead, we will be asking a global -- goldman sachs representative about their japan outlook. but first, this is bloomberg. ♪ >> a nasty earnings recession so the companies that can deliver on the cost efficiency will continue to perform until we fully price the downturn in earnings it's going to be. haidi: next guest says this is when investors should go pro risk. great to have you with us. talk us through your strategy if you are watching for what the treasury curve does. it's interesting the idea that we could potentially get more conflict within the fomc as well clouding the outlook when it comes to what the fed will do this year. guest: our forecast has not changed in the last three months. for 2023, the expected rate cut our forecast for it has not changed. with the minutes they came out today, perhaps confidence in that rate cut is increasing but we are worried that the fed might get the economy more into recession. maybe there is a real recession that could occur

mark: welcome to the bnn, bloomberg and bloomberg audiences. i am mark crumpton with first word news. kevin mccarthy wants president biden and senate democrats to sit down with republicans as soon as possible to discuss controls on federal spending and limiting the nation's debt limit. republicans have been demanding deep spending cuts as the price for an increase in the federal debt ceiling. but the president and democrats what the limit to be increased without conditions. german chancellor olaf scholz says he is sure his country will avoid recession this year as it faces down russia's energy squeeze. he spoke in davos in an interview with john micklethwait. he also told john his country will continue to support ukraine for as long as it takes against russia's aggression. but it will not send heavy weapons without consulting with nato allies. nepalese authorities have begun the grim task of returning to families the bodies of victims of a flight that crashed in the foothills of the himalayas sunday. they are also sending the aircraft's data re

this is bloomberg. ♪ the first time your sales reached 100k was also the first time you hit this note... ( screams in joy) save 20% with the lowest transaction fees and keep more of what you make. with a partner that always puts you first. godaddy. tools and support for every small business first. >> i am still cautious but with more hope that i had before. paul: producer prices slid more than expected last month. the drop in retail sales exceeded estimates. let's bring in shane. happy new year, i think we can see that. -- say that. getting to that data, not great we have a debate shaping up about the debt ceiling again. take a look at this chart, the s&p has dropped below the moving average. is the scene set for further declines? >> possibly. it's been a good rally the last couple of weeks. worries about recessions and the hit to earnings are quite high in those risks will continue. the flipside is we have seen better data on inflation. that will enable central banks to become less hawkish. i don't think

this is bloomberg. shery: still ahead, expenses at goldman sachs surge amid shrinking revenue while morgan stanley gets a boost from its wealth management unit. we will get an update on u.s. bank earnings. up next, we hear on why they are increasingly come to be about adding risk into market pullbacks. this is bloomberg. ♪ >> the next shoe to drop has to be a decline in the economy. and in particular, a contraction in labor markets. because the core issue of inflation is wages. >> we expect to see a mild recession, largely driven by the painfully persistent service inflation. >> does that mean that central banks are going to keep retire for longer? maybe. and that is the issue i have related to liquidity. >> you also need to look at the shareholder perspective. it is clear they are going to get cut on bonuses. shery: banking and business chiefs at the world economic forum in davos weighing in on inflation and economic risks. of course we have plenty more big conversations coming up from davos today, i

i am in bloomberg's world headquarters in new york. >> this is bloomberg technology. price sam bankman-fried response to charges and a detailed post saying that he did not steal funds. nor stash billions away. >> disney leadership continues with activist investor nelson peltz nominating himself to the company board. what could this mean for them? first we talk with a venture capital fund backed by melinda french gets but her fund is on the dedicated to investments and longevity, the spending power and influence in women in diverse community's. first, let us check in on these markets. once again, friends, it was the day of macro affecting your benchmarks. let's take a look at the inflation data, actually showing a drop in overall prices in the month of december versus the month of november. overall we are still seeing that cpi showing inflation is cooling, maybe it even peaked. the nasdaq is up 6%. similar moves to the nasdaq. five straight days, the longest winning streak we have seen since july of 2022. yields, bonds, we see yields come down by 12 basis points on the

this is bloomberg. ♪ >> this is "bloomberg surveillance: early edition" with francine lacqua. francine: good morning and welcome to "bloomberg surveillance: early edition." i am francine lacqua in

and welcome to bloomberg surveillan

coming up, kristin peck joining bloomberg. this is bloomberg. keeping the up to date with newsom around the world, here's the first word. inrush of the budget deficit widened to a record in december. moscow's revenue plunged due to restrictions on oil exports. spending grew on the invasion of ukraine. in the u.k. the prime minister's government is introducing anti-strike legislation. minimum service levels would be required on strike days for fire, aim villains and rail services. the government is trying to minimize disruption from widespread strikes the past few weeks. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta, this is bloomberg. alix: conagra is the parent company of brands like birdseye, slim jim, dunkin heinz, a forecasting that prices muted impact on spending habits. nearly a dozen analysts have raised their price targets. joining us is the conagra brands ceo. thank you for being here. it's a pleasure to talk to you. there's d

this is bloomberg. >> welcome to bloomberg markets. kriti: you are seeing mixed action but the s&p 500 firmly in the red, down by 9/10 of 1% and this is normal ahead of a decision. but at that pattern continues in the weekend week ahead and ahead of the fomc decision. we are looking at 354 at the 10-year yield and the -- it is leading the dollar as well. i think it is filtering back in to the commodities space as well as we data coming out of china. >> helpful context there and it is going to continue to be a busy week on the earnings front and there are names that we are watching closely and general electric's health care unit in its first quarter of results after the spinoff is getting well-received reaction on wall street and that stock is up. again almost 13% after -- we will speak with the ceo coming up later this half-hour and some stock specific stories. johnson & johnson, that court ruling that the company cannot use the bankruptcy process to address many losses that they are dealing with now and we will track that story. we ar

this is bloomberg. ♪ caroline: welcome back to "bloomberg technology." we do so much in terms of public market coverage, but get us up to speed on the world of venture capital. ed: talking tech, we need to focus on that side of the world. there are so many headlines of starting with sequoia's regional arm in southeast asia. it is weighing up a special audits of several investments in the region, following allegations of financial irregularities. some portfolio companies. in europe, highland has raised a one billion euro fund to invest in private software and consumer internet companies. the firm got a focus on growth stage companies. interesting they have raised and closed that in this environment. fintech to hr outfit deals says it reached 295 million dollars in annual recurring revenue by the end of 2022. that was a jump of more than 400%. the company also confirming the valuation has reached $12 billion. caroline: fascinating that we are getting more focus on valuations and where they are held after the funding from last year. let's talk about it with