matt: i'm matt miller. we welcome both our bloomberg and bnn bloomberg audiences. here are the top stories we are following for you from around the world. uscp is climbing at the fastest rate in nearly 40 years, showing inflation is not slowing down. that puts even more pressure on the fed as its decision comes next week. the ongoing supply chain issues leading to that inflation continue to add to price pressures. we go live to the port of los angeles for the latest with ed ludlow. and hedge funds are said to be entangled in a criminal investigation by the u.s. department of justice into shortselling as it pries into their financial relationship with researchers when setting up their bets. all that and more, coming up. amanda: interesting reaction across stock, slightly mixed picture but overall positive. weakness in energies and financials for the broad s&p 500. leadership from the techs and the subgroups that make up tech. broadcom, costco moving sharply higher after their quarter outlook. you are seeing some willing volume. the 10-year back at 1.47. we had been

matt: no gold -- jonathan: no gold? matt miller, kailey leinz and jonathan ferro. nasdaq 100, up 35. equities up .2%. in the bond market, yields are up around one basis point to 1.4945. when i think back to the surprises of 2021, i think about calling the economy accurately and if that benefits you. when you look at the 10 year, if i told you where inflation would be, could you guess where the 10 year would finish the year? matt: absolutely not. especially considering the hawkish pivot. jonathan: inflation, very close to seven. sarah house pointing out she expects a seven handle through q1 2022. more to come on radio and tv. this is "bloomberg surveillance ." ritika: i am ritika gupta. there is more evidence the omicron variant has a milder symptoms than other strains of the coronavirus. a lower rate of hospitalizations than the earlier ways. a seven day average of people hospitalized just under 9000. elon musk is closing in on his goal of raising his stake in tesla by 10%. he has sold another $1 billion worth of stock in the electric car company he runs. he is sel

matt: this is "bloomberg markets ," i'm matt miller. investors facing a wall of worry when it comes to the fed announcement. you have got a lot of problems with the omicron variant. huge inflation, cpi and supply chain issues and the next guest says the fundamentals still look good. joining us now is brad rogoff. we welcome your optimism. what's behind it? brad: you cannot deny the worry that you rolled out in terms of the worry. we don't fight the fed as we move spread tighter. the fed, loosening with, -- with quantitative easing. now that we are going in a direction, we can't ignore it. we are sitting here looking at margins that are peak margins, incredible considering the inflationary pressure we have had for several quarters and we look at fundamentals from a leverage standpoint, we are close to if not back to four q 19, making us feel better about the prospects for credit matt: in 2022. corporate credit had on rough go of it, looking at ig or junk over the last few weeks. why have investors lost heart and when do you expect it to

matt: no. it just popped into my head because i was too young when they were touring -- this is a tangent you don't need to hear -- but when i was a junior in high school the local radio station started playing "stairway to heaven" all day long and set, wait for an announcement at the end of the day. all of my friends at skipped school and hung out at a buddy's house. we thought zeppelin was getting back together. we were planning on dropping out of high school and going on the tour but it did not happen. jonathan: ellen wald joins us now of the atlantic council. we are currently seeing a complete dislocation of our typical utility prices. what do you mean by that? ellen: this is something that has been building for about a year now and we are seeing it get worse. if you look at the utility prices and the price of energy, typically the pattern is these prices trend downward in the winter and upward in the summer. however, starting last year we stopped seeing the downward trend during the summer

matt: absolutely. you certainly have to test negative before you go back. the idea is they want to shorten it enough that we can get people back to work, especially, as we heard earlier on the front lines of health care, they want to have a deeper bench. they want to be able to get people the care they need. but they also want to make sure you are not infectious. they need to strike that balance. it will require scientists with data. jonathan: right now on the s&p, up one third of 1%, advancing 14 points this monday. your 10 year yield at 1.4910. euro-dollar basically unchanged. where you get some price action is in the airline names. 2800 flights and more over the weekend canceled in america. american down 1.8%. they are not moves, but this is the story right now for corporate america. how many more flights will be canceled? and dr. fauci about 10 minutes ago saying it is reasonable to consider a requirement to be vaccinated for coronavirus before getting on a domestic flight. perhaps more restriction

matt: thank you for joining us. real pleasure talking to you, thank you so much for your time on this new year's eve day, james of capital alpha partners talking about the headwinds that we face in terms of geopolitical risk and domestic political issues as well. coming up, we talked to jay bryson, the chief economist at wells fargo as we finish off 2021 and look forward to 2022. ♪ this is bloomberg. ♪ dani: this is bloomberg surveillance live on bloomberg to envision and radio. -- television and radio. not a lot to catch up on if you are taking the day off because we've failed to hit another record in u.s. equity markets and we don't seem like we will do that today. it has been 70 all-time highs this year but we are looking at a weaker start, down about 2/10 of 1%. for the s&p, nasdaq, and russell, a little bit more weakness in russell and nasdaq futures. yesterday the russell outperformed so may giving back some of that. european volumes are off by some 90% today, what you would expect for the last trading day

this is bloomberg. ♪ matt: this is bloomberg markets. i'm matt miller. a record year for dealmaking has pushed boutique investment stocks to an all-time high, but how long can the m bonanza continue and how well our independent advisor set up for the drop off if activity falls? with us to discuss that and more is the copresident and founding partner of one of the original teak investment firms, moelis & co., alongside our bloomberg deals reporter, ed hannon. let me start the questioning here and ask you about growth in the future. we've had a lot of people talk about a slowdown in wall street. shouldn't be a surprise after the kind of year we just seen. what do you expect? navid: thank you for having me on the show. it's been an extraordinary year in terms of m&a activity. as we look out into 2022, i think all the ingredients are therefore further continuing high levels of activity. corporate board ceos are looking out and seeing disruption anywhere, technology disruption impacting their businesses. they are seeing the search for and a need for growth an

matt: i'm matt miller. here are the top stories we are following for you from around the world. fed chair jay powell testifies for a second day. we will speak with david rubenstein, co-chair and cofounder of the carlyle group to get his thoughts on inflation as the chairman reiterates his move to declare more quickly. plus the who says the current shots will likely protect against severe cases with a new strain as it tries to ease the public sphere. with omicron also affecting oil prices, we will take a look at how the variant is impacting opec's meeting as they consider the possibility of raising or cutting production. amanda: that is one asset class that has not rebounded. stocks having a much better day today. coming off the highs as the session goes along. we didn't get the positive finished by the end of the day. iou a dollar although it is a canadian dollar so it's $.78. we are seeing gauged financials, utilities. big tech is doing ok. middle of the cat -- middle of the pack. the yield unchanged today. lots of questions about what's going on in the direction of rates and w

matt: he is probably feeling fine. i can imagine him sitting down on a fender amp, playing with this computer and all of his recording equipment. he probably wants to get back to the markets as quickly as possible. jonathan: t.k., get better soon. your call for the u.s. dollar, walk us through it. marvin: the fed pivot, the fact u.s. rates are above global rates will probably create a bid for the dollar. as we get to the point when the fed hikes and we get a better idea in terms of the inflation discussion, which will be with us going into the beauty of next year. until we get a real sense of what the inflation curve looks like in the second half of the year and whether or not the fed is as far behind the curve as other people say. it will defined whether or not it will continue. as we go into the beginning of next year, the dollar will continue to have a solid bid. kailey: what about the bond market? marvin: i still think we can get a flattening of the curve -- it will be somewhat surprising. in number to be concerned

matt: and up arrow in red. jonathan: you want it to be green? matt: yeah. jonathan: you disagree with the format of the bloomberg terminal? matt: i won't say that. [laughter] jonathan: there you go. 1.4 911% on tens. we've got to work this out, what is going on in the economy and what it means for this market because it has not been so obvious this year. kailey: of course, we saw euro-dollar at $1.13. there's a very different five between the inflation picture and what is happening in europe, where the ecb still stands by the fact that it is transitory. jordan rochester, the fx strategist from nomura, sees something that is not music to matt miller's ears. they be he sees us going up to 5000 by year end next year, but he sees a correction along the way. i guess the question is when will that happen and what will the catalyst the. on a more micro level, we will talk tech with dan ives of wedbush. then of course, we still have questions as to who is going to sit in those three remaining fed seats. will we get them from the biden administration? maybe not this

matt: thank you. coming up, the co-chief investment officer at invest net joins us on this new year's eve day, as we see s&p futures down 10. this is bloomberg. ♪ hey, angie! you forgot your phone! hey lou! angie forget her phone again? yep. lou! mom said she could save up to $400 on her wireless bill by switching to xfinity internet and mobile. with nationwide 5g at no extra cost. and lou! on the most reliable network, lou! smart kid, bill. oh oh so true. and now, the moon christmas special. gotta go! take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes switching fast and easy this holiday season. dani: this is "bloomberg surveillance," live on bloomberg and television. matt miller, kriti gupta, and dani burger in for jon, tom, and lisa. i hear it is someone's birthday. matt: happy birthday, jon. dani: i just want markets to be calm because i would rather picking up a bottle of bubbly i will be drinking later, but there are some int

for a laing, i'm matt miller -- four amanda lang, i'm matt miller. this is bloomberg markets. ♪ >> here in new york. this is bloomberg markets the close. the stock rally cooling a little bit on this wednesday afternoon. a breather after the biggest -- stopping by to discuss where opportunity and risk remains. plus, sir richard charles branson is here. and some of the biggest names in crypto testify on capitol hill, advisory service. here to talk regulations

this is bloomberg. ♪ matt: this is bloomberg markets. i'm matt miller. after its public debut on friday, shares of hagerty continue to rise as a specialty provider merged with a spac. joining us is the ceo, mckeel hagerty from outside the new york stock exchange with a special guest. who have you got behind you? mckeel: thank you for having me. this is the very first do is invert, a very luxurious car from the 1920's and 1930's. it took two years to build. what is unusual about this car, the original owner was over seven feet tall. so it is a huge come along car. it is awesome. matt: how do you ensure something like that? we have seen record price after record price for classic cars. some of these things are just absolutely priceless. what do you do as an insurer when somebody comes to you with a car like that? mckeel: that is the coolest part of our space. so many of these cars have gone up in value. over 40% of every vehicle in the last year went up in value in the last 12 months. when you start talking about the rarest of the rare, you have to start l

this is bloomberg. ♪ matt: this is bloomberg markets. i'm matt miller. it has been a wild couple of days for bitcoin. we saw it plunge as much as 22% on saturday. a lot of us woke up shocked to the numbers. bitcoin back below $50,000 after it almost hit $70,000 just a couple of weeks before. now we are seeing it climb back above 50. i'm sure we will put a live quote on the screen, but let's talk about the cryptocurrency market. this is a keyword -- institutional -- how much of the volatility we have seen is retail driven and how much institutional adoption are we seeing in terms of crypto? >> in terms of what we have seen, we currently service over 700 institutional clients. last year, 80% of our flows were crypto-native. this year, over 62% of our volume comes from institutional capital. so very much seeing institutions coming into the space. the move on friday was very much driven by a risk-off environment , led by institutions looking at traditional markets and applying that same sentiment to crypto. matt: so they were worried when they saw meme stock

matt: absolutely. you said at the beginning of the week, we have not been talking enough about earnings. i think that is very true. we started off with ed yardeni. i have been talking to pretty much every guest about it since. if we have 8%, 9%, gina martin adams saying almost double digit earnings growth in 2022, then that would continue the strength, or you would think that the market strength would continue, especially if we continue to get these kind of valuations. jonathan: what do you make of that? fears of recession during the next three to six months. if so, the rapid growth rates of truly innovative companies should be rewarded handsomely. kailey: i think it is interesting. part of that thread which is quite long, she talks about it being the opposite of y2k, in that the industries that are most dealing with these excesses in inventories are the ones that are going to be disrupted by technology, and therefore you are going to see a flipping of what we saw two decades ago. on the growth versus

matt: yes. i am jealous because you still have an hour of television to do and you have one of my favorite guests. you saved them for yourself. you wait until kailey and i are gone and then you talk to mohammed. jonathan: is a separate show at 9:00. mohamed el-erian will be joining us on the year that was, what we have learned from 2021 and a look ahead to 2022. a lot of this comes back to the transitory story. he was calling on the fed to pull back. they started to pull back now. what happens next? we have learned so much about the economy this year, what does it mean for the market call? if you get the economic all right does it help you make the right market call? after that i am done for the year. before i go, i've said thanks to my audience in my guest. i often describe my job as herding cats. that job someone else's. a lot of those people are in the control room. i started my career on the other set of the camera. i know how hard they'll work. thank you so much to all of you. an easier job

matt: yeah. on the other hand, when your most important asset -- i guess your clients are your most important asset. the other ones, your employees, get off the elevator and walk out the door every night. you have to do what you can to keep them there. even though we all love nap pods and ping-pong tables and flexible work schedule, money often helps. i would love a nap pod. amanda: i would take money any day of the week. coming up, a tough year ahead for retail according to goldman sachs. it is cutting its rating on ralph lauren. we will discuss why after this. stay with us. ♪ amanda: this is "bloomberg markets." it is time for a stock of the hour. ralph lauren was a double cut today at goldman. analysts think 2022 will be a tough year. gupta looking at the reason behind the move. kriti: now a sell rating and a price target cut from $140 to $110. there were a couple of reasons behind the cut. a slowdown in brand health indicators, the cost environment applies to the broader retail sector, and

matt: i hope. >> for your sake, matt. kailey: this is personal for matt miller. matt: a lot of people are divisive in this day and age and is not a good thing. the term rich is also relative. if you're raising a family of four in the new york suburban area and making $250,000 per year, it's still a bit of a struggle. >> it's very much a struggle. there is a lot of people who are wealthy who do so many things who are philanthropic and do things to help people and help build affordable housing want to improve our environment. i don't think throwing labels on people just because they are wealthy is helpful step i think we have to have a new way of looking at things and work to gather as a community to make new york stronger stuff we don't need to put labels on people. i think slogan policy sucks and we have to create a new environment. we kind of want to work together and most people are in this moderate path of doing the right thing. hopefully, 22 will be this new day for all of us. kailey: we would all like to have less political part -- partisanship. thank you so

matt miller, kriti gupta, and matt miller in. many markets in europe lighter volumes than usual, off as much as 90% on a some indices in europe. we are seeing s&p 500 futures near lows of this premarket session down more than 1/10 -- .1%. an area this seems to be protected is nasdaq 100 futures, those are basically unchanged. when we see small caps continue to decline, down .2%. it is the more economically sensitive type equities which are underperforming. this is a reversal from december. december, it has been the small caps that started to edge ahead of the large-cap stocks. that has not been the trend for the full year. when it comes to the bond market, things look sanguine as they have been for the year and volatility. bond markets not reacting too much. we do not have moves between 2, 10, and 30 year yields that are greater than one basis points. we see slight buying across the board. we are on track for treasuries to return to negative 2.5% this year, the first yearly decline since 2003. according to vanguard and blackrock,

matt: i'm matt miller. we welcome our bloomberg and bnn bloomberg audiences. here are the top stories we are following for you from around the world. stocks slide, treasury's rise, as traders think the u.s. jobs report keeps the fed on track. we will discuss with william rodgers of the federal reserve bank of st. louis. didi is delisting and may be relisting. the decision to abandon the new york stock exchange and go to hong kong, putting pressure on chinese tech companies. and lamborghini's ambitions. we will speak to the ceo, stephan winkelmann, about the path forward of electrification and supply issues hitting the industry. amanda: it may well be some of those warnings, including from apple weighing on sentiment. it is a negative day out there. it is led by the techs in the broader s&p 500, the groups that make up tech are the weakest consumer discretionary. weakness also in financials. that has been a strength in recent weeks. some of the highflying names giving back gains today, 5% moves lower out there. and then of course we are looking at meta, trading

matt: hang on. to go to a restaurant in new york city, you have to show proof of vaccination or recovery, right? you do not have to show anything to get on an airplane in america? kailey: no, just your id and boarding pass. the difference in policy is very remarkable. and something to consider, i would say so. jonathan: clearly the number one issue coming into america is the testing requirement. if they want to testing and away from a vaccination requirement, with they have enough tests for people to get on airlines right now in this country, the united states of america? i think that would be to medically difficult. matt: -- i think i would be tremendously difficult. matt: i am shocked how unprepared the u.s. seems to be when it comes to testing. tests are so plentiful, easy to get a hold of in terms of home testing kits. you can go to testing centers on seemingly every block and get a test arbor for free or for tormey or 30 euros, max -- and get a test for free or for 20 or 30 euros, max. the u.s.

matt: cool. time for our stock of the hour, and another beat, raised quarter for upscale furniture seller restoration hardware. they see full-year sales rising 33%. kriti gupta has a look. kriti: it is just called rh now, they had that name change. i am told they make products that are to die for. it is not only that they have grown quite a bit but they are being rewarded or beating their earnings in a big way. let's compare them to their peers. they are doing better than the peers, the exception being williams-sonoma, which also has the advantage of being a big gift business. they also own pottery barn and west elm, of course. this is pretty normal for rh on a post earnings day. they tend to have a good stock reaction, at least in this pandemic era. let's see if that continues on with future earnings. matt: i don't know if i would put up rh against williams-sonoma. you can get spatulas, mixing bowls at williams-sonoma. restoration hardware is for like giant bedroom furniture, much more of a manl

matt: absolutely. still recommending you wait until your symptom-free and you continue to wear a mask -- you are symptom-free and you continue to wear a mask after but it gets workers may be the ability to get back to work at banks, apple stores if they are open, at a much faster rate. maybe we had closer and closer -- remember when bill gates forecasted it would become the flu in 2022? we are getting close. jon: goldman sachs saying if you want to come back in february, get boosted. kailey: if you are eligible to get boosted by february 1, that is what you have to do. goldman testing twice a week but they are bringing people back to the office. unlike other banks like wells fargo have indefinitely postponed the return. people are sticking to the coming back except tighter instructions. jon: get back to the office becomes february. let's hope we are not talking about march and april and so on. in the equity markets, good morning to you all. a lift in this month's stock market again, up .25 percent on t

matt: wow, 2.25%. that is an outlier. jonathan: the idea that you have to get to 3% before you get any disruption in the equity market, what do you make of that? matt: keep in mind, we had a chart showing q4 2021 year-end targets, and they were much higher and had to come down. you have seen q4 2022 targets are supposed to come down as well. so 3% is a long way off. you've got to think someone like steve major is one of the smartest minds in the industry, and he is talking about 1.5%. scott minerd, who often gives outlier forecasts, is saying it could go negative, so 3% is going way far in the other direction. jonathan: i would love to see scott's book one day, matt. he is brilliant. scott minard of the guggenheim. coming up, a conversation on tesla and the autos of america. it is dan ives of wedbush. from new york, this is bloomberg. ritika: there's no sign that the pandemic is slowing. for this second day in a row, the number of coronavirus cases around the world went over one million. overall, it seems to be triggering

matt: this will be the discussion. hopefully we will come to a decision that helps the economy but keeps people healthy. it is everything. it is not just manufacturing, but it is service. if you are running a hotel and too many call in sick, what do you do? if you are trying to run a television station and to make you have omicron, then want to people are running it. jonathan: tom keene and lisa abramowicz will be back with us in a few days. let's start with omicron. we are trying to work out what this means, the inflation debate. how does china fall into the conversation? >> we are looking at data around the world and we can see that we had a wave in south africa that was much quicker and did not have the hospital impacts we have had in previous waves. we are starting to get signals that maybe it is the same there. there is very little natural immunity there and we do not know what they have been using. everyone wert about inflation is worried about china because china remains the supply hub of the whole world. if the

matt: thanks. sarah, we only have a couple mittens left ear, and since you are -- left here, and since you are the last to go in the first group, i want to give you the opportunity to provide reactions to reactions. so any closing thought you might have? and i will go very briefly around the horn after this if folks want to share about a minute of a closing thought. sarah: i will say two things very quickly. one is i do agree with professor roberts. i think helping educate the public about the processes already in place is something we can do to build that trust. but i also want to leave on a positive proactive note. while some of the large-scale electoral rooms might take longer and require coalition building, there are things you can do as state legislator do not be partisan. add voter tracking to all absentee ballots so voters can see the process, administrators can check them, and people can see if something has gone wrong or the balance is not received. i also think every state should have som

matt: a worthwhile question and fear. we have 2 trillion dollars of excess savings in the consumer's hands in the u.s. that's being spent down gradually. the pace is critical. it is estimated to be in the six to 18 month horizon. as that is spent down, the ability of consumers to continue this surge, and let's not confuse supply and demand, and on the backend, it is slow, but we think the sales number could for shadowy consumer saying that high prices means i will buy less, not buying ahead of even higher prices. taylor: when we talk about corporate balance sheets and the readthrough to credit, you saw spreads widening. will that be the trend as we see policy normalize? matt: at the higher end of the quality spectrum. as treasuries become less distorted by central-bank activity, the aaa, aa, single-a, high-quality components should and criminally be forced -- should incrementally be forced wider. so what we are calling for is more of a barbelled approach. maintaining that lower quality exposure to higher income components

. ♪ matt: i matt miller up even welcome to bloomberg markets. we will cover the deluge of central-bank announcements from the fed, boe, and the ecb. plus, we will go to washington to speak with the white house council of economic advisors chair cecilia rouse, and then go to the new york stock exchange for a interview with the ceos of delta and american express. a quick check on what is going on in the markets right now. the s&p 500 fluctuating between gains and losses today. it is currently down about half a percent at 4686. tech stocks are leading the way down. the nasdaq off 1.9%. the u.s. 10 year yield is also coming down. investors buying that 10-year paper even after we heard from the fed that they now expect the rate increases in 2022. the bloomberg dollar index is also falling right now to 1181. we had reached 1188 before the fed meeting. it is interesting, this dovish hawkish tilt. let's turn back to the central-bank news and bring in policy correspondent michael mckee. was there any kind of dovish tilt to this hawkish pivot? mike: not r

maybe we will all come visit matt. it sounds great there. >> it's critical to be the non-parental mentor in someone's life. they get better through to teenagers. in the good old days was someone would lay down in the road. now what kids face is mind blowing. >> as a parent it's one more thing you have to monitor. make sure they are not asking questions to alexa that might get them electrocuted. my daughter got an 8-ball for christmas. you shake it up and ask the question. >> i thought you were talking about cocaine and heroin. >> no, no, no! a magic 8 ball. shake it up and ask a question. >> those used to be the worst things in the world. the magic 8 ball would never steer you wrong. all you would do is make bad dating choice. does he really like me? shake, shake, shake, it's true. then you are crying the night before your junior prom. things don't always end well for some of us. parents, if you are watching fox news you are already a great parent and 700 steps ahead of all the dumb-dumbs. a new year's eve, with no bub

. ♪ matt: this is bloomberg markets. i'm matt miller. we will be hearing from president biden as he unveils the next steps to fight covid. plus, ahead of tomorrow's jobs report, we check in with labor and food inflation with not a marshall, owner of the ivy kitchen, member of the independent restaurant coalition. and we will talk with thomas england at -- thomas ingenlath, ceo of polestar, about the ev market, and pressure on public listings tied to china. let's take a look at what is going on in markets, and we are in rally mode once again today, at least for now. we haven't gotten any negative omicron headlines crossing the terminal. dow jones industrial average up about 2%, adding 643 points. the s&p 500 up 1.5%. 4581. the 10-year yield coming up slightly. 1.4528. that means investors are willing to let go of the perceived safety of government debt. the bloomberg dollar index rising again. 1184. oil, a very interesting trade in commodities after the opec decision to keep production hikes in place in january. you can see nymex crude up

matt: i agree. one of the biggest fallacies out there is the people saying the fed may make a policy mistake, and when they say that -- and when they say that is causing the markets to go down. we have gotten used to the fed. i think they have lowered that safety net. they are doing the right thing. you are absolutely right. they are doing the right thing. sometimes the fed has to do some things that are painful over the near-term so things will work out in the long term. my parents said that when we were kids all the time and we have to do that now. correction points are painful but also normal and healthy and part of capitalism, so people should embrace them, not fear them. kriti: you said the c word, correction. my ears perked up immediately. i want to ask about a correction in 2022. we had a guest calling for a 20% to 35% correction in the s&p 500 next year. if we see a correction, 10%, 20%, however much, do you see the dip buyers immediately hopped in and recovery gains within days? that has at

matt finn, you are there. we still have matt with us? >> yes. >> bret: okay. andy, obviously this was a risky strategy, he potentially faces three years. >> it's potentially 18 years. nobody expects that he will get anything like that. it's three years on each of the counts. so, it will be up to the judge. there are sentencing guidelines in illinois. they imitate the federal guidelines and important particulars. that's why i keep coming back to his decision to testify. in the sentencing guidelines, in federal court, for example, there's an automatic increase in the sentence. it's called a 2 point enhancement it can be pretty significant depending how much time you look at. the defendant who takes a stand and tells a story that is essentially rejected by the verdict really runs the risk of exacerbating his potential sentence. here getting a prison sentence when maybe a non-prison sentence was more likely. >> bret: egregious nature of it if all the evidence lines up and this jussie smollett going through the metal detector with his family there you saw him walki

matt miller in berlin. paul in new york to guide you through this light volume and sometimes high volatility market. we see things going up. it started three days before christmas but in the world of santa claus rally. peter: we have the s&p up .2%. nasdaq lagging a little bit. green on the screen despite some of the challenges we see the negative data points on the omicron variant. i think people are generally trying to look to the other side of that and that is where the market is focusing right now. matt: absolutely. i will say that i think one of the pieces of news around omicron was positive. we got the most daily infections ever globally, 1.4 million new infections, but cdc guidelines saying after you've gotten infected if you are asymptomatic , then you can return to work within five days rather than having to wait 10 days. that has to be good news for airlines, retailers, manufacturers, etc. didn't other -- the other thing, are you not verified on twitter? peter: reveille not. why would i be verifie

matt: good thursday morning. welcome to "bloomberg markets" in this special coverage of the week between christmas and new year's. we had a 70th record close yesterday, aiming for a 71st today as we are simulcasting on bloomberg radio and bloomberg television. paul sweeney joins me out of new york. i'm matt miller in berlin. not a lot of momentum, and obviously almost no volume, but we have another record high. i always remind people, it doesn't really matter if you have no volume. for people who are long this market, they are now wealthier than they were before. paul: a little bit of a lift in the equity markets, but we will take it. low volume, but that is what you expect on the week between christmas and new year's. but we are here simulcasting, doing it all week, and getting a look at the markets. we are also taking a look ahead to 2022. the s&p up about zero .2%. abigail doolittle joins us with some market movers. abigail: pierpoint, you are wealthier to -- to your point, you are wealthier today if you inves

matt: hundreds have been killed, and thousands arrested. but the people of myanmar are not giving up. ♪ leave us in pieces. ♪ ♪ every day our volume increases. ♪♪ matt: a new political force is emerging, fighting for a true democracy.

matt: the u.s. far outperformed everybody else in 2021, or at least is set to by the end of the year. do you expect that to be the case for 2022 as well? gary: yes we do. there are opportunities overseas. the environment for most markets will continue to hold up with the trade growth we are looking at. once we get by the omicron infection, which we view as a temporary hit that will be disruptive a little more than the market is anticipating, but as that clears, that provides for it as well. the concern centers to some extent on china. we see growth stabilizing at a low level for the chinese economy by recent standards. our view for emerging markets overall is neutral. we view asia a bit more favorably than other parts of the emerging market space, and keep in mind for international stocks generally, we see the dollar firmer, which means modest currency losses for u.s. investors on overseas investments. we think the u.s. economy will be a growth leader in the coming year, and that bodes well for corp

emily: are we going to get to $100,000 plus in three weeks, matt? matt: i'd be surprised. i'd be very surprised if we got to $100,000. it is worth mentioning, crypto is still the best performing asset class in the world this year, bitcoin is still up more than 150% over the last 12 months. ethereum up 600% give or take over that same time but i think calling $100,000 by the end of the year is a difficult prediction to make. i think as we look into 2022, though, we still have these fundamental drivers, institutions we speak to every day at bit-wise, the advisers we speak to, moving into the market for the first time. i think $100,000 could be in target in 2022 but this year, i'm not so sure. emily: i'll add that to your list of predictions that bitcoin could hit $100,000 in 2022. what else could you put on that list? matt: i think we're going to see the cambrian explosion of activity. i think investors will look at ethereum, solana, polygon. we're seeing investors who put their toe in the water in bitcoin in 2020 and 2021 realizing there's more to crypto than bitcoin so if

>> matt: it's incredible. i mean, you have tibetan street food, then there's colombian arepas. you go up into flushing and there's the chinese bbq parts. i don't know of any place in new york, maybe even the world or the country where you can have such diversity on the street. >> anthony: matt shapiro is another lawyer who represents street vendors when they need legal help, which in our nanny state current reality is all too often. >> anthony: now, generally speaking, to open up a cart on the street you need a license. >> matt: you have to have a license for yourself and then you have to have a permit for the cart itself. that's the problem. >> anthony: in any spot? >> matt: generally speaking, yes, although there's lots of restrictions. >> anthony: manhattan is very much the "not in my backyard neighborhood" in a lot of ways. i mean, for this reason manhattan in my view is less interesting than queens. this is a wonderland. >> matt: yeah. >> anthony: i mean, look at what we've got here. >> shawn: you know they're trying to change it though, and the more it does change, the mo

matt bodner in moscow. thank you very much. be interested to see the readout on this meeting, both from the white house and from the kremlin. i am willing to guess that those readouts may be different. thank you, both, for being with me. >>> what do you say we go back now to the senate, that hearing on capitol hill with the inspector general. >> we are looking at training services bureau from top to bottom and we anticipate that report will be issued some time in february. that we want to see training become the flagship of this department. much like when we view quantico and the secret service's rally training center, you look at their org chart compared to ours, we're nowhere near close, and we need to have a training services infrastructure bureau that will handle all the training. >> okay, thanks. i'll let senator warner talk about intelligence training, but my last question is about the defense department proprietorships with the defense department. obviously, there was much help of our national guard here at the capitol.

matt hogan, thank you, as always. coming up, what could the delisting of didi have to do with national security? this is bloomberg. ♪ emily: the ripple effect of chinese writing app, it didi, being delisted still in effect. it could just be the beginning of chinese tech companies being forced to abandon overseas listings as tensions between the two biggest economies continue to mount. joining me is a former tipple matt and u.s. state department focusing on salvation policy. how many more didi's could there be? >> no one knows for topic congressional commission estimated there are 250 chinese companies that have a total of 2.1 trillion shares trading on u.s. exchanges. this tech decoupling shows no signs of stopping. it could be some of the other big adrs listed in the u.s. are next. emily: how much do you think this has to do with chinese national security? anja: i think that's the reason the chinese government gives, but i think there are three reasons xi jinping in the communist party are doing this. the first one

if matt had a job or do you work for matt, and one thing about him, he could break into the most. be a terrific smile. he had the greatest smile i ever saw. it was just, it was like the sun coming out from behind. a cloud was unbelieving. who changed from this photo? totally focused driven guy. oh, somewhat somewhat strike him. and his voice would soften and he had a smile. so he was a user, a volatile guy, he was a genius. it was a james, and he, i don't think his contributions will ever be fully appreciated. the styles of the space race, of course, with the asking the american public records, he followed every detail that i feel amorous lifestyles. but the glare of the media spotlight of an obscure the dangers of traveling in space and crucial partnership between the men who built the seats and the ones he wore them asked, you know, if jim lovell is better than anybody was, it was like to trust the crew systems team with his life, or what he shows me around next submission of artifacts from his 3 flights into space. he tells me how he, in his craig, for his most famous missions,

matt: good wednesday morning. i am matt miller in berlin. paul sweeney my coanchor and partner in crime in new york. this is a special simulcast on bloomberg radio and bloomberg television. we will be here all week, and we are very excited. a lot going on today. we had some richmond fed manufacturing data that i thought was pretty exciting. we had some covid data that was a little more depressing, but also some positive news in terms of less severity of disease. we had some great corporate news from apple, giving surprise bonuses which is nice this time of year, although they are restricted stock bonuses, so you got to stay there. we've got another record high. if we close at this level, because we did drop yesterday almost five points in the end. if we close this level or more than that, we will have a 70th record high. paul: we've got eco-data out. pending home sales, they were off 2.2% month over month in november. the consensus was for plus 8%. that is a negative surprise. but i sold a house. you bought a house. we were active in the mar

donna, jonathan and matt miller are back. we covered that story here because the lies and the anatomy of those lies and the fact people still believe those lies sits at an intersection of domestic violence extremism threat in this country. it's a security story. but i'm guessing that story and like the rundown on the network where people are beholden to those lies and i wonder if this point, what there's left to do about that, donna. >> i don't know. two-thirds of republicans believe that the election was stolen and there's no amount of convincing them otherwise and i think while it's important for us to continue to tell the story and to continue to debunk the lie, i'm not really sure who we're talking to anymore. you know, you look at georgia, you know, trump's claim of 5,000 dead people casting ballots when it turns out there were four ballots turned out for people turned in for people who died. i mean, there's like, you know, this massive gap between the truth and the lie. and there seems nothing though that can convince a

howman and matt, stick around. harry, thur. thank you. >>> the depths the ex-president went to smear joe biden and his kids. >>> plus the covid testing, the disruption of holiday plans, and now nfl games canceled on the inevitable break-through of infections. why experts are still saying the omicron variant shouldn't be cause for panic, at least for the vaccinated. >>> the biden administration's new strategy to keep school children safe and keep schools open. don't go anywhere. open don't go anywhere. hey google. ♪ ♪ ♪ ♪ ♪ ♪ i may have moderate to severe rheumatoid arthritis. or psoriatic arthritis. but we are so much more. we're team players and artists. designers and do-it-yourselfers. parents and friends. if joint pain is getting in the way of who you are, it's time to talk to your doctor about enbrel. enbrel helps relieve joint pain, and helps stop permanent joint damage. plus enbrel helps skin get clearer in psoriatic arthritis. ask your doctor about enbrel, so you can get back to your true self. play ball! enb

so i asked matt panousis back. matt, good morning. i'm not the only one interested in your ai artists. your company just got funding, series "a", to help pay for it. congratulations. >> thanks so much, scott. means a lot. >> so this is not just theoretical, right? i mean, you have used ai on a number of projects in which a computer is sort of the artist. >> in way, yes. so we have two producs in development right now at marz. both still in stealth mode for strategic reasons. but, yes, the first product is in what we would call a beta. it's been leveraged on 17 productions this year, and so very excited about it. the term ai artist, i think, may be slightly mischaracterizes what it is that we're doing, and i think i mentioned this the last time we spoke, but really the focus of marz is to help scale, scale the artistry. if an artist is able to do 10 or 20 or 30 times the output that they were previously able to do, by being aided by artificial intelligence, that to us is a really nice combination, because what we're doing is we're tryi

so we have two key roles that fall out of that, matt. the first is to be the operational lead for federal cybersecurity, so the protection and defense of the dot gov, and the second and maybe more relevant to this audience is to be the national coordinator for critical infrastructure, security, and resilience. so as we know, over 85% of critical infrastructure is in private hands. and that's why partnerships like this are so incredibly important to the success of our mission. that's why i'm glad to be here with you today. >> yeah, that kind of goes back to the trust comment we talked about. i think the way cisa exists and the trust you have with the commercial partners is, you know, critical to all of us sort of moving the agenda forward from a cyber perspective so that makes a ton of sense. i'm sort of shocked, when i listen to jen speak and saw her keynote at black hat, she was three weeks into the job at black hat. today, i think is 100 days into the job. >> yeah, 100 days. >> 100 days. that's a big job. she's still new, but it's impr

matt and i agree on one point. this election will be about bread and butter issues, the american people are frustrated with covid, this latest variant and rising prices across the board. democrats have a lot to campaign on. we see the largest wage increase since 1999. the first year irt was tracked. we're seeing some of the best economic indicators in terms of the job rates in 50 years. obviously inflation is a serious concern as gerri reported at the outset. it is set to go up. you are also seeing a biden administration focused on inflation and encouraging the feds do all they can with inflation rates spiking as well as tackling the omicron variant. you saw the president with the governors yesterday speaking about that. we have 315 days left until the mid-terms. that's an eternity. democrats can play ball and flip the script in some degree. >> arthel: i have to tell you, kevin, what you said sounds good. democrats have a big messaging problem. all people are looking at is what's happening in their homes, you know,

james, good morning. >> reporter: good morning, matt. elizabeth has given her christmas day message every year since she became queen, but i think it's fair to say there's never been a more personal address. she spoke of course, about the loss of her husband prince philip this year and the losses we've all felt because of covid. ♪ >> reporter: this christmas, another year of celebrations for the royal family. the queen delivering her annual christmas message but the first without her late husband prince philip. >> christmas can be hard for those who have lost loved ones. this year especially i understand why. that mischievous inquiring twinkle was as bright at the end as when i first set eyes on him. >> reporter: also celebrating new additions to the family. >> we have the chance to reminisce and see anew the wonder of the festive season through the eyes of our young children, of whom we were delighted to welcome four more this year. >> reporter: one of those, lilibet diana appearing for the first time in a christmas card shared by pri