we also had kristine aquino, are live markets editor there. we will get more on norman's thoughts in a few minutes. what is check on the markets. the stoxx 600 now lower than 1%. the nasdaq futures are pointing up by more than 1%. across the stakes, you see everyone. one that remains that -- in the green is deutsche bank gaining almost 3%, the best year so far. we speak with the cfo and will have more on that throughout the next few hours. the benchmark lower as markets adjust for this hawkish fed. stay with us. this is bloomberg. ♪ tom: welcome back to the open. we are 16 minutes into european trading day. the benchmarks of the european stoxx 600 are down almost 1%. the markets are pricing in five federal reserve hikes this year. this is after jay powell left the door open for more rate hikes and addressing the balance sheet question. we will get more about that. that is running in the background, the way that jay powell is describing it into play. the markets now pricing in five rate hikes from the fed. the banking sector, and one stand ou

tom: let us get into the key market drivers with kristine aquino. earnings coming to the rescue for the markets. kristine: definitely. we saw apple pulling good sentiment from asia after eight battering week and doing much for the stoxx for the supply chain. definitely shoring up a sentiment there, but the new ones we have to look at when it comes to taking on the apple earnings is that apple is a different east -- beast from the part of the tech sector that has borne the front of the selloff. we are talking about these high profit tech names, we are not talking about apple which is still growing in cash, so we need to be clear in terms of the equity selloff this week. it is important to make that delineation because it could give a clue as to whether we see another bout of risk aversion ahead. francine: you are right christine. janet, given what we have heard from apple and the supply chain crunch, are we going to see that as the semi conductor and tech stuff going forward? janet: good morning and thanks for having me. apple is doing well with the

francine: joining us now is the cio of credit suisse as well as our reporter kristine aquino. thank you for joining us. we may need to act even quicker than we thought. kristine: it is significant that we have a number of official stuff coming out and giving indication of what they think it would take to cap this inflation issue. it is a split between three and four rate hikes. markets are interested in what bullard was saying. he has is in the past served as bellwether markets. they have taken and paid attention to him when he is talking about rolling off the fed balance sheet at the end of last year. markets are paying attention. it is interesting to see the split there amid officials and having a look at some of the more dovish members of the committee, like neil carter coming to the table and indicating more rate hikes than less. tom: do you feel like you have clarity in the rate hikes cycle and how much of this is priced in? dr. hechler: our cells have come around the probing around the federal reserve officials have made with their comments before entering into a blackou

that was richard dunbar, still with us, and kristine aquino, breaking down the market. netflix plunges after its outlook of subscribers disappoint. we will break down what will happen with netflix and what this means for the broader tech sector. this is bloomberg. ♪ francine: welcome back to the open. i would say tgif, but given the selloffs with the shaky earnings from peloton and netflix, but also the concern about geopolitics around the world, and also the fed, we expect them to break more than expected, we see the pressures. the dax is down 1.4 percent, and similar numbers across the board. we do not know whether the investors will build across the dip, or resell their losses. tom: we talk about netflix disappointment around subscriptions. shares of netflix falling sharply late trading coming up short of subscriber estimates for the fourth quarter. the streaming giant forecast that it will just add 4 million subscribers in the current quarter. that is way below expected. they report that it is temporarily stopping production of its signature products for peloton,

tom: kristine aquino will stay with us. we will get more on the markets that we are watching after the break. i will also touch on unilever and glasgow's next clients as well in terms of that deal. it is not yet the price for credit suisse and we want to see this on the terminal. 1.2 percent on the back of that news for the chairman. francine: i spoke with the chiefs -- chief executive a month ago, and he was a talented man. there were a lot of shareholders expecting price around the scandal, but there was also rumors that they could merge and sell off assets. tom: that is a pricey story to say the least. in terms of what glaxo's has declined, and unilever, some of the prices there, you have got gsk up 5% on the back of that decision to punch -- pushback from unilever. coming up, growth risks around china. more on that next. this is bloomberg. ♪ francine: welcome back to the open head 12 minutes into european trading day. it is a u.s. holiday, which means that the u.s. equities are not training -- trading. we are looking

with our bloomberg markets editor kristine aquino. finally, a little bit more easiness in the markets are at least there is not that anxiousness that we saw in the last couple of days. kristine: absolutely. i'm sure this comes as a relief for a lot of investors. we have been dealing with this relentless bond yield curve since last week. i think it gives investors a little bit of time to pause ahead of the fed meeting and some important central-bank meetings coming up and with the earnings season kicking off, getting some of that time to parse through the results and see if there are any big takeaways we could glean from the results we have so far. tom: sharon, what is your assessment of the market action we have been seeing and how it leads up to the rest of this quarter as we take into account the earnings season? >> the earnings season in europe , we have only had a few companies report so far. i think the earnings season will be ok. we had three or four fantastic earnings seasons last year. they went up through most of the fourth q

kristine aquino as well. coming up, yemen's cootie fighters claim to have launched a drone strike on the uae. the impact after the break. the details. this is bloomberg. ♪ tom: welcome back. we are 12 minutes into the european trading day. losses across the benchmarks of the stoxx 600. technology down more than 1.3%. the one sector that remains in the green, energy, given the run-up in oil prices. brent at $87 a barrel, up almost more than 1.5%. goldman with a forecast of $100 a barrel in the third quarter. talking a brent crude and what is underpinning the high prices rallying to 2014 highs, yemen's houthi fighters claim to have launched a drone strike on the uae, opec's third-biggest producer. let's go to our reporter in dubai. what do we know about this attack on abu dhabi and what is the impact? we are seeing elevated prices. does it remain sustained, the geopolitical risk around these tensions? >> the iranian backed houthis claim to have struck two targets in abu dhabi, the main airport in the city and

tom: kristine aquino always so good at getting to the bottom of what is driving these markets. we will get florence's calls after the break. we are going to speak to goldman sachs' global head of commodities, jeff currie, about what fed tightening means for impacts we could see from the geopolitics. also, his views on bitcoin as well. this is bloomberg. ♪ ♪ tom: welcome back to the open. we are 15 minutes into the european trading day. pressure continues across the european equities space after that handover from the u.s. stoxx europe 600 down 1.3%. the ftsemib in italy down. -- the ftse mib in italy down. technology right atop the heaviest losses. still with us, florence barjou, cio lyxor asset management. before the break, you said maybe this is a bit overdone. does this mean potentially there is a buying opportunity here? if so, where would your focus be? florence: it could be a bit overdone. obviously, we are talking about flows and liquidity adjusting. and with valuations being very high so the market taking a breath, that's not surprising. the first days of the year a

kristine aquino joining us on what is going to happen in the rates market. it is going to be an interesting year, judging by the reaction we have seen already at the start of this year. that's switch from credit to equity and figure out what is happening as we head towards the closing europe. a positive session for the ftse 100, which has bounced back over the last few minutes. the whole of the european space has bounced back, but nevertheless, the dax is flat. the cac 40 down by around 0.6%. renault is a really interesting story, it really positive outlook being generated by that company a little bit earlier on. we will deal with the details in just a moment and breakdown exact a what is happening here. the other factor worth going over in all of this, we are getting this stronger euro. how is that going to come look at matters for european stocks, or is it just a symptom of those european strong stocks? this is bloomberg. ♪ guy: wrapping up the thursday session here in europe. we started to get a little of a push higher into the end of the day. the dac i

kristine aquino, thank you for breaking down the key themes we are watching today. ralf, i'm pleased to say, stays with us. coming up, russian troops remain stationed by the ukrainian border, but the dance of threatening sanctions and requesting exemptions is in full flow. geopolitics next. this is bloomberg. ♪ tom: welcome back to the open. we are 14 minutes into the european trading day. the markets across the benchmark gaining more than 1%. building on the modest gains we saw across the equity space yesterday. everything goes sector in the green. travel and leisure, basic resources atop the list. we are awaiting fomc guidance from jay powell. will he be clearer in terms of the rate hikes scenario? march looks likely it will be baked in, but will we get more aggressive commentary or will it be a dovish tone? also looking for anything in of the balance sheets, as well. let's check in on some of the stocks on the move with dani burger. what are you looking at? >> i'm first looking at wizz air. this one has been very volatile when it comes to its action this mornin

alix: thanks a lot, bloomberg's kristine aquino joining us. let's get that take from hugh gimber, jp morgan asset management global market strategist. it is the same question to you. do we see in ecb that moves in snail pace because a lot of this is transitory, or do we see the ecb in force because this is record inflation? hugh: there is something that is going to force the ecb's hand this year, i thicket will come from the labor market because that is where the ecb stands differently from the fed or the bank of england today. it was really the pressure in the labor market and seeing wages rising that i think has changed the tone from the fed and the boe, and really forced them to abandon this idea that inflation is transitory and forced them to move to a tighter pace of tightening policy as we go through this year. for me, growth in the euro zone is the key metric to watch. guy: it is quite a structural process in much of europe. when do we start to understand what that wage demand looks like? the big german unions, other unions obviously ne

francine: we have our bloomberg reporter kristine aquino and our guest karen ward from jp morgan. charts, you have great charts today. i am excited about dxy. they have gone nowhere since november, but they have moved since november. kristine: it is interesting seeing the play with the markets at the moment, and you can play that was the fact that the normalization process has been in the works at the desk for a while. we see that process being built into the market even before we began. we got indications from jay powell and the rest of the fomc on the number. those rate hikes really built up the last few months of 2021. the dollar has responded to that accordingly, and some of the fed gains that the dollar will have will be seen. tom: we will also bring in karen ward from jp morgan. what is the read across for the global market as a result of they constrained greenback? karen: the dollar is the result. it is not just eight u.s. story as we see -- a u.s. story as we see in the next few months. not only is that a synchronized british story, but a synchronized global story. the ris

let us get our reporter kristine aquino and our guest, beata manthey. which is the key driver of market sentiments right now? are we getting any sense that things are starting to bottom? kristine: this week was going to be about the fed but then we had the wrench thrown in with geopolitical risk, and that is causing chaos in the market. suddenly there is this risk that was underpriced over the last few weeks, -- few weeks, suddenly coming to four. the market is going one way. this might be the risk that finally does that and it leaves questions about where we will be temporarily. it shows yesterday that the by did dip strategy is not dead. the question is if buyers are buying the dip down. francine: one of the things we have been trying to figure out is who is buying, and it seems like a different group of investors. it was breathtaking. i watch from home because of the volatility. is this the new normal? beata: this is unprecedented broad-based selloff. we have to go back to the start, to the main reason for businesses on the back edge of this year is

tom: that is kristine aquino, our mliv team expert. let us bring you up to speed for some of these individual markets. we have this price catch around atos. it has been reflected down almost 20%, this digital service firm from france. they came out with a profit warning. there free cash flow was turning out negative. their ceo came out saying that there will be a restructuring on the table. we have a focus on the aluminum crisis, edging towards production as a result. and idorsia had an approval from the fda on the drug for the company. francine: coming up later this hour, esg funds struggle in 2021. this is coming on the back of big gains. we will talk about the challenges with the global head of morningstar sustainability research. this is bloomberg. ♪ francine: welcome back to the open. we are 14 minutes into european trading day. you can see markets trying to find their direction and there is a lot of analysis over the u.s. data coming out this week. yesterday -- i keep on saying yesterday when i mean friday. we look forward to t

kristine aquino there with us. coming up, more on the markets. we talk with emmanuel cau, the head of european equity strategy at barclays. plus elevated risk for valuations, and we speak to the second deputy governor of the bank of france. this is bloomberg. ♪ francine: well back to the open. 12 minutes into european trading day. we get the cpi figure tomorrow. if you look at markets today, there is a bit of dip buying in european stocks. swaps is something we need to watch out for today. that really indicates that it will be higher by the year, and we will be building the increase with prices for equities taking place. stocks ended on a high note after a volatile session. the nasdaq ended in the green. we have calls from our next guest that there is room to run. one investor sees that continuing this year is emmanuel cau. he is the managing director at barclays. are you worried that the fed might have to do more for inflation? emmanuel: good morning. we are seeing a hawkish repricing from the fed. we are seeing the rate markets going up in va

kristine aquino, thank you for breaking down the themes for us. coming up, could the u.k. be set to see the first bank rate hike in the 17 years? we will look more at what is happening, and implications for the boe next. we will get some of garrett's calls as futures stateside turn. a solid gains in italy on the back of the presidential results. stay with us. this is bloomberg. ♪ tom: welcome back. we are 14 minutes into the european trading day. 0.9% gains across the benchmark stoxx 600. another wild day per u.s. equities. currently the u.s. futures s&p easily a point range bound after being in the green. the nasdaq futures, 0.2%. your sectors in europe, it is technology out of the gate quite strong, up 2.3%. let's get some of the individual corporate stories that dani burger is watching. what is in focus for you? what is of interest? dani: kicking things off with a bit of activist investor action. we have had a lot of this over the past month or so, activist investors getting impatient waiting for returns. vodafone the latest target, according to sources familiar. a gr

to discuss that, we are joined on set in london by kristine aquino and ira jersey. do you think we are done? do you think january is going to be as volatile? what could be the catalyst to keep us in the current environment? kristine: i think we are absolutely not done. i think we are just getting started in terms of how markets are really digesting through the big themes for 2022, which is really all about the new era of central banking and central-bank policy trajectory, and addition to all of these lingering issues related to inflation, supply chain issues in relation to that, and the energy crisis as well that we are still facing in europe. i think we are just getting started. what could really keep us in that mode of very volatile markets in january is really all about a matching of expectations between what markets think central bank's are going to do and what central banks actual do , both in terms of the markets versus central banks, and also the divergence within central banks themselves. the fed and the boe are expected to hike five times this year. they ar