kailey: laura, i want to take a u.s. perspective as well because the cfo says there is no capacity to ramp up his business. this is a conversation we are having in the u.s. as president biden looks toward the shale patch saying, please pump more. if bp does not have the capacity, does anyone? laura: absolutely. one of the reasons the cfo said they cannot increase shale production is because they do not want to do it at the expense of the environment and methane emissions. they are building these two gathering facilities in the permian which should be done at the end of the year. once those are completed, if prices are right, then they said, yes, we are going to go ahead and we will have the capacity to increase production. the other caveat is cost inflation in the permian is high. the cfo said if coming in around 10% in the permian, he also said it is much higher than the rest of the world. that is another thing that might slow things down for them. guy: laura, great stuff. brilliant story from bp. laura hearst. let's ch

kailey: now you are. jon: if you remember the conversation, it happened on air and can you work it out. futures down down .9%. from new york, this is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™ >> there is certain a lot of moving pieces in the outlook. >> we seen a lot of froth come out of the market. >> i think the market is trying to find a level. >> these levels are too hot. >> the federal reserve has not been forceful enough in stating not just with the goal is of 2% inflation, but the means to ac t

kailey? kailey: thank you. to say the least it has been a challenging time for tech names. so far this year the nasdaq is down 20%. we are seeing more losses today. let's take a look at how this is affecting the nasdaq's business. the ceo, adena friedman, joins us now. great to see you. clearly it has been a tough time to be invested in the stock market, each also makes it a tough time to come be in the public markets. what are you seeing in terms of activity and companies' desire to become public in this environment? adena: first of all it is great to be here. thank you very much, kailey. it has been an interesting start to 2022 in terms of the ipo market. get such an amazing market last year in terms of companies coming out into the public markets. we had over 750 ipo's last year. this year we started off much slower. we had 70 in the first quarter. when we look at how the second quarter is evolving, i would say companies are still saying on the sidelines. you have to understand what are the ingredients driving that. i think first of all the underpinning of the u.s. econo

kailey: you mentioned the stimulus unwind. part of that is not just the rate hike mechanism but a shift to quantitative tightening. what are you expecting to hear around the balance sheet tomorrow? how much room for surprise is there within that? holger: once again, i think what the fed will likely do tomorrow has been flagged very well in advance, probably from june onward, reducing their balance sheet by about $95 billion per month, $60 billion of that in treasuries, the remainder in mortgage backed securities. they may be getting toward that. that has been flagged in advance. what is unclear is any indication as to how far the fed would want to go in the end. although i would have to say, it would probably not be wise for the fed to be too specific. we will have in a while to watch how the economy reacts to this unusual thing, mainly quantitative tightening. hence, the fed should give us as much guidance as they can about what they try to achieve. they should give us good guidance about what is ahead in the near future. but

i'm kailey leinz. this is bloomberg. ♪ m kailey leinz. this is bloomberg. ♪ >> the pushback right now is no one wants to buy anything in tech. it is not just amazon. good pull of a chart on microsoft, google, anything. we are in a buyer's strike across wall street on software. jonathan: that was the equity research analyst at jefferies. there's been some big pushback. we had their earnings, and on the street, the consensus is still incredibly bullish on the south side -- on the sell side. just got this monster feedback that says no thank you, we do not want to. lisa: you talked about it with the nasdaq having its worst month going back to the end of 2008. it could be catching a falling knife. jonathan: we are down 0.3% on the s&p. we were down 0.4%. yields coming in by a couple of basis points. that is something a little difference, given that last month stocks were down and bonds were down, and yields are up now just a bit. down 3.7% now on crude to $100.85. joining us now, and experts on all things in the stock market, gina martin ada

kailey: what about the u.k. where we see a growth contraction in march, and yet the bank of england saying we have got to hike more? seema: it has been interesting with the u.k. we have been relatively negative u.k. for several years. u.k. is a big dividend play. we continue to see that interest , the bank of england will likely see recession in 2023. we see continued rate hike. it is that dividend play that does make it attractive. jonathan: awesome to get your opinion. thank you, seema shah, principal global investors. nori and review neat the bond market, equity market correlation. usually tuning in, says correlation between bond and stock prices going back to negative after being recently positive. concerns about inflation gives way to concerns about a recession. lisa: which is what a lot of people are expecting. seema saying she was expecting it in 2024. if you expect it in 2024, do you still dance? do you look for consumer discretionary companies? that is going to reassert itself because we still have time

kailey: a euro at $1.05 we were talking about the euro north of 120. it's interesting how quickly this has changed and it's not just a story in europe. there's been a weakening against the dollar in general. it was reinforced by the data over the weekend. lisa: did he answer that question? jonathan: he said it would change the forecast at the ecb and they would have to take into account what happened. how much can they push back against that without raising interest rates? it's not about the first hike but how much further we go but they are ready to go and they have told us that. that got to wind down qe and kickoff interest rate hikes. this is similar to the conversation of the federal reserve. we know the next hundred basis points, there is a large consensus points. 100 basis points is all but guaranteed. this fed does not have the luxury to be data-dependent the next several months, they just have to go. what happens at the end of the summer will be very interesting. at the end of summer, when you get to the jackson hole timing at the end of august

kailey: the tots. jonathan: i cannot believe we are calling this the tots. kailey: i had to do it. jonathan: seema shah coming up very shortly from principal global investors. from new york, this is bloomberg. >> keeping you up to date with news from around the world, with the first word, i'm laura wright. it has been a day of big swings in the crib the currency market. bitcoin had been as high as a little more than $28,000 and as low as $3000 less. the collapse of the stable coin earlier this week triggered a flight for any popular digital tokens. senate democrats were blocked in an attempt to enshrine abortion rights in federal law. all republicans and one democrat, joe manchin, voted against it on the senate floor. the supreme court is poised to overturn the landmark roe v. wade decision. it has been two months since negotiators left vienna, and expectations are fading that iran nuclear talks will resume. the u.s. and around won't talk directly -- and iran won't talk directly to each other, so they can unit kate via messages exchanged by the european communicator. disney reporte

kailey and i sat down with the ceo. he is stephane bancel, and we ask him about that disconnect between the revenue numbers today and the guidance the company is a sticking with. stephane: what we have done for the pandemic is to be very precise to the market and investors. today the book of business at this time is 21 billion dollars year-over-year, and as we have said, covax has many vaccines for low income countries. there is an upside to those numbers, because these include zero sales from the u.s. government. as you can imagine, they're going to be boosters available in the fall. we are ready to go into the private market if we have to. kailey: what do you expect in terms of contracts? are you expecting more from the u.s. government this year? stephane: if you look around the world, every developed country from europe, to japan, to canada are all getting the boosters. as you know there has been no money in congress, so i'm hoping and we are having discussions with the white house to be able to provide the u.s. gove

very --kailey: for cars. very popular during the pandemic, but a story that has changed dramatically as the world emerges from the height of covid-19. tom: it is a font of free cash flow. let us not forget, kailey leinz, "crypto," is this today? kailey: it is, what a clock p.m. eastern on bloomberg tv. thanks for the plug. jonathan: why do you seem so confused by this? tom: i'm not so confused. i cancel the "surveillance" nap to watch "crypto." jonathan: is matt back today? kailey: he is not, kriti gupta will be in the hot seat. jonathan: you've got friends. kailey: lots of friends. [laughter] jonathan: lots of friends. tom: lara rhame joins us of at have -- of fs investments area this weekend, lara rhame goes back to her true foreign-exchange this weekend. you do what i scream about .47. you can't -- about 24/7. you have to triangulate. how do you triangulate dollar right now? lara: you triangulate versus some of the organic moves going on, versus the majors in europe, where we are just clearly not going to

kailey leinz alongside lisa abramowicz, futures up about a third of 1%. it is all about the fed this week. lisa: do they go 50 basis points. do they signal a forward look. how far they willing to go and what are they looking at in terms of inflation projections. jonathan: how data-dependent is this for the next several months. do you think anything comes through in the next couple of months makes it different to the trajectory of fed hikes? lisa: i don't know if that comes from the payrolls report, perhaps in the inflation side. when it comes to supply chain disruption, when it comes to china and perhaps higher oil and gas prices should there be some sort of embargo on russian energy products, could that shift the narrative more than the tightening labor market. >> last month was brutal. >> the worst want to be seen for equities going back. for the nasdaq, the worst month since 2008 and that was even in the face of earnings that by and large have been ok. you the vast majority of companies beating to the upside. you're seeing 3% earnings growth and get th

kailey: and nigeria's oil i

kailey: futures have been fluctuating between losses. nasdaq futures are lagging behind due to a few individual names appeared in the bond market, 10 year yield, to basis points lower. the russian ruble catches my eye after the russian central bank cut rates for the third time in just over a month from 13% to 11%. trying to rein in the strength of the ruble that has gone from strength to strength during the course of the war in ukraine. the ruble right around 62.74. as far a few of the individuals i was talking about creating a drag on the broader market, apple is one. down 1.4%. they will keep production flat this year for iphones, they are dealing with supply-side challenges. a chip maker also dealing with supply issues stemming from covid-19. snowflake, the cloud software company giving a different -- disappointing sales forecast. twitter, elon musk, $33.5 billion worth of equity financing for the twitter deal. shares are up 5.5%. tom: interesting. kailey leinz, thank you. mr. musk, a source of conversation in davos. stephen auth, dec

kailey: just got invited to the morgan call in london on oil. they walk through the why we are going to $150 a barrel. the answer is jp morgan and others see oil prices higher because of conventional analysis. jonathan: how much does this fed need to squeeze? lisa: and how much they willing to? jay powell said fight for for credibility. he came out saying we will not take a nuanced view of inflation. that is the bedrock of this economy. if we do not have that we have not done our job. jonathan: let me throw this at you. the market rallied yesterday. if it continues to rally, is that considered an unwarranted loosening of financial conditions the fed has to push back against and if that is the case has the fed put a lid on markets, a lid on risk assets? lisa: it is more nuanced than that. any there's been a sigh of relief for markets that is a bad thing for the fed. where did it rally? you saw the havens rally. the left for dead stocks. how much are people reverting back to her belief the vet could get inflation under control and then the behemot

kailey: this week, decarbonizing the super emitters. china is already the world's largest emitter. it is not slowing down yet. how can it get to net zero in time to save its economy and the planet. >> covid-19 reminds us that humankind should go into green revolution and foster green development. kailey: india is investing hundreds of billions in the green transition. but is it moving too fast? >> india is not like china. it is not as rich as china, but crucially it does not have the green technology that china can produce. kail: ge

guy: thank you, kailey leinz is delighted. cap spaces in the united states hitting an all-time high, we will hear what president biden might do about that. gasoline prices front and center. as we had to break, talking of an story, janet yellen is speaking for the senate banking committee, and number of headlines coming out of the treasury sector --secretary. she's being asked about russell, a senator is asking questions and janet yellen -- russia. us editors asking questions and she says russia is struggling. the question is how quickly is it coming down. tomorrow will change analysis. the color print tomorrow will be a different story. a lot is going on around the inflation story and we will continue to focus on that. there is the treasury secretary answering questions. she is speaking in front of the senate banking committee. if you want to follow wrong -- along, you can do that. this is bloomberg. we offer you the options, you can do there as it says on the screen live.go. this is bloomberg. >> thank you. >> senator scott f

and now a shameless plug for matt miller and kailey leinz. bloomberg crypto, the show will take you to the edge at 1:00 p.m. new york time. a weekly show with matt and kailey taking you through the latest action in the crypto landscape. i'm sure they will be talking about the 30,000 level that we have been talking about for the last few days. the president will be joining us to talk about the inflation narrative from the white house shortly. and we will of course bring you that live, when it happens. this is bloomberg. ♪ alix: turnaround tuesday ending with a thud. abigail doolittle is tracking the market moves. abigail: this is the intraday chart of the nasdaq 100 futures. for the most part, the nasdaq 100 was higher, then flat now, so the volatility continues. there is reason to think it will abate to the downside. helping at the nasdaq 100 futures earlier, the 10 year yield. down about 25 basis points in two days, that is remarkable. the dollar index up for a fourth day, that could be one pressure as that continues to build. if yields co

so we will go to a data check in new york with kailey leinz. kailey: good morning. i'm other a goat nor a sheep, but i am watching these markets. after the gains of yesterday, we are seeing losses in the futures session. my producer pointed out to me earlier today that in the last 10 days we have seen a gain of at least 1% on the s&p 500. nine of those times have been followed by a loss for the index. on average by about one point 4%. lo and behold, futures are down about 1.2% at this point in the session. of course, it is a little bit worse for the nasdaq 100 coming down about 1.8%. that is largely a snap story, which i will come back to. as you are seeing selling inequities, there is some buying in the bond market. down about four basis points on the 10-year gilts, 2.8 1 -- the 10 year yield, 2.81%. it is perhaps a stronger euro, back out to around 107 on euro dollar. christine lagarde saying negative rates will be is in of the past by the third quarter. she reinforce that view in an interview here on bloomberg and downplayed the risk of european recession. as for

let's get you some movers and catch up this morning with kailey leinz. kailey: there are a lot of movers out there this morning, including some positive ones on the back of earnings. albemarle is one of the big outperformer's, up about 14%. it is the number one miner of lithium, which is needed for electric vehicles. demand is strong, price is up, and that is helping the company with a beat on its forecast. it was also a beat for strong demand for solar products, allowing the products to pass through higher costs, up about 12.7 percent. still an upside mover would be twitter. elon musk securing more in financing from the likes of finance, brookfield, and sequoia. maybe removes a little bit of doubt about his ability to actually close that, but even with a 1.76 percent gain this morning, we are more than four dollars below the deal price of $54.20 a share. there are some downside movers on the back of earnings, and among those are at and ebay. both giving weak forecasts. that pandemic boom and shopping starting to unwind. cognizant technology, this is an

in new york, kailey leinz. kailey: the picture is looking better for futures, right around session highs at the moment. nasdaq 100 futures are higher by a little more than 0.5%, even after some of the disappointing headlines from the likes of nvidia and apple. in the bond market we are seeing yields moving up. a little bit of selling pressure in treasuries, up about two basis points on the tenure. yields were lower earlier in the session. you are seeing no bid in the bond market. in foreign exchange, the russian ruble really catches our attention today. the russian central bank cutting interest rates for the third time in a little over a month by a larger than expected amount. economists that about a two percentage point cut. 14% down to 11%. they are trying to weaken the russian ruble, whose strength has become a little bit more alarming. right now russian ruble is indeed weaker, trading at 63.20 or so to the dollar. there's a lot moving beneath the surface, so let's get over to romaine bostick with some indiv

a report from kailey leinz. kriti: ill will crisis --kailey: no real crisis, but we have rolled over from the earlier gains. the s&p down about 16 points or so. at that plays out, a little more of a bid coming into the treasury market. the 10 year yield down to basis points, just shy of 2.73%. you are seeing some larger action take place in foreign exchange. it is a stronger dollar story today against everything in g10. the bloomberg dollar index up about 0.4 percent. as for some of the more micro stories out there, the one that captured all of our focus yesterday was snap, out with a profit warning on a deterioration in the macroeconomic environment, weighing on advertising. the stock was down 43% yesterday as a result. it is down another 0.6% this morning. nordstrom showing more resiliency for the higher end consumer. it is up 4%. toll brothers also getting a list of about 2% and after covering -- after cutting its delivery outlook for the year. cooling some demand from the unprecedented pace we have seen in t

. ♪ kailey: this week, a ukraine special. from europe to asia and the u.s., how is the russian invasion of ukraine affecting the green transition? >> they want the freedom to move to cleaner energy and they a

. ♪ kailey: this week, a ukraine special. from europe to

kailey: definitely a decrease there. one of the stocks we will be watching is mark and kj a. the company released earnings yesterday and sales growth this year between six and 9% with headwinds. we spoke to the ceo earlier today. >> we had a very strong quarter in q1. we are going through challenges in the environment. you have the covid pandemic which is not over, the ukraine war which is fermenting tremendous -- presenting tremendous challenges and now the china covid crisis which is bringing significant lockdowns. we are very proud of what we are delivering. her life science research as part -- is very strong. even the core business, without covid having an influence and for the full year, we have announced that we are expecting around 10% organic growth. we are increasing the confidence that a globally diversified company like ours is equipped to deal with the challenges. we demonstrated this in q1 and we aim to continue and take it forward. alix: there are significant challenges going forward, potentially gas being shut off from russia and rolling lockdowns in china as w

kailey: it's quiet and it doesn't look like there's a lot of conviction out there with futures positive than negative no positive again. we go nowhere in the bond market. where you are seeing more action is in foreign exchange. beneath the surface of the equity market, there is a warning on advertising with a small bounce this morning. it's a bigger move for nordstrom. it caters to the higher end consumer and it goes to show you the contrast between those at the high and low and. toll brothers is higher as well. they actually cut their delivery outlook for the full year with executives warning of a moderation in demand after the unprecedented pace of the last two years. how that is weighing on housing is interesting to contrast that commentary with the data out of the u.s. yesterday. tom: thank you so much. within the sphere of international relations, one of the moments was 20 years of go with farid zakaria with the post-american world. he says there is a revolutionary moment and a required read is ian bremmer, the power of crisis. he joins us this morning. i thought fareed zakaria was

we talk about this and more with matt miller and kailey leinz. take a listen. >> bitcoin companies have really thrived in crypto winters. it is a time to build and a time to -- and bitcoin is that. >> we have seen bitcoin move back towards the lion's share of market. it is fascinating bitcoin can be 45% of the market cap of all crypto. we are talking 20,000 some coins. this is not an existential crisis? >> for crypto? >> for bitcoin. >> bitcoin's mass spot is the honey badger. what that represents to the community is that bitcoin has not cared about what is happening around it. it operates independently and that is the purpose of the protocol. bitcoin was invented, emergent of two decades of work on how to build an open and fair financial system that could serve the under banked and the un-banked in the same way it served the wealthy underprivileged. bitcoin and bitcoin builders are generally heads down. something interesting happening today you see in the bitcoin market as well as the broader macroenvironment is a collision of two things. bitcoi

we spoke with kailey leinz and guy johnson earlier today. >> the nasdaq today is a scale of technology company that serves the broader capital market and broader financial systems. we have a big role to play in facilitating and helping crypto markets as well as banks and brokers managing your digital assets. we provide our technology to 130 other markets around the world including -- we are up to potentially 10 crypto markets leveraging our technology for trading, surveillance, and other means to make sure they can grow and expand their business. we also have a scaled anti-financial crime technology solution where we have created a new module specific to digital markets so banks can evaluate risk in their digital wallets as well as in their traditional accounts. 130 thing is we have a crypto index we have launched outside the united states. we have able to play, but as a market operator, we are still trying to understand the regulatory landscape as well as the overall maturing of it for institutional use of crypto before we make bigger decisions. emily: adina friedman there. california

alix: -- guy: shameless plug as kailey leinz would say. let's take a look at where european assets, quite a big day here in europe. stocks are up high. the action is really elsewhere. the cable rate jumping quite sharply. we got unemployment data today that really suggests the bank of england will have to do more. 19 basis point move jacking up rates. we will talk about this next. really looking forward to this conversation. this is bloomberg. ♪ another crazy day? of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business, with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want—your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with unbeatable business solutions from comcast business. powering possibilities™. (announcer) enough with the calorie counting, carb cutting, diet fatigue, and stress. just

kailey leinz i know is watching in that chair, keeping it warm, and huge thanks to her. what she has said at the beginning of every month, and she said it again at the begin of this month, is i can't quite make up my mind whether or not i can't believe it is may. whether we are already so far through the year, or i can't believe it is only may. because it is been in a crib lead bumpy start to the year. i think we've all got stiff next , basic -- stiff necks, basically. alix: i just want to fill in our viewers a little bit about what is been going on with me. i am triple that asked with the covid vaccine. i did get covid at the end of -- triple vaxxed at the -- triple vaxed with the covid vaccine. i did get covid at the end of january. i did have long covid with brain fog. i am still not 100%. don't know what i will be like in 10 minutes, don't know but i will be like tomorrow, but i appreciate the support. what it has made me think a lot about, and i mean this sincerely, i work in a company that has an kodaly support of staff and policies, and there are a lot of people t

cnbc coverage continues with our white house correspondent live for us hi, kailey. >> well, the white house would argue it's already done a lot to try to tamp down inflation, but it hasn't really worked. today that strong jobs report underscoring the white house's long argument that the labor market is strong and the speed of the economic recovery is historic as the biden administration assesses the health of the economy overall, the jobs data has been the core signal of strength, even as some of those warning signs appear elsewhere this week i spoke with three senior administration officials who said they are optimistic based on consumer spending, household savings and evictions despite fewer people participating in a labor market than they'd like and some faltering confidence than a year ago. all of that is a better indicator of economic health than just a few days of market drops. >> the focus of many economists who look at this question of whether we're headed toward a recession is on fundamental economic data, including the number of jobs that had been created, the growth of the

reporter kailey be sun. take a look now at what these cameras are catching and how we can protect ourselves. >> these hair raising pouring in from across the country. i that i could today. >> and it scared me to death from luxury homes in beverly hills is used to be such a safe neighborhood to main street america. glad that he's caught but scared that. why was he on the street to begin when it's a problem? security yesterday, robert sicily says has been exacerbated by the pandemic alcoholism, drug addiction overdoses. there's a lot >> collateral damage as a result of covid. and when people are desperate, they do desperate things. and we're seeing a lot of that happening right now. get. >> many of these alarming encounters captured on camera weeks ago in california. you can see this intruder breaking into a san bernardino home and staring at a couple sleeping before being last summer, another homeowner confronted the man after he broke into his family's bel air estate. make it and killed their pet birds with