the dow jones industrial average surging higher, helped by jpmorgan, goldman sachs, walmart. jamie dimon rally. >>> check out the s&p sector winners today. as i mentioned led by strength in banks, following optimistic comments from jamie dimon at the investor day energy not too far behind, ou

goldman sachs talked about bringing in the growth estimates a little bit and bringing their s&p 500 down to 4300. kriti: abigail doolittle, always a pleasure, thank you so much. let's bring in aaron brown and the chief risk manager at hq our risk management formally. your take on whether or not this is where the stock market is bottoming out or do we have more room to run? >> we certainly have more room to run. on the other hand, and see any signs that this will be a spectacular beat to a long decline. we are in the initial stages and it's anybody's guess where we wind up. jon: how do you think these asset classes will continue to trade? you can watch the crypto market as well. >> what people need to understand about crypto was any crypto investment is the combination of two things, one is an investment and highly speculative technology and we know those will kill. the other thing you're getting is a foothold in an economy that's insulated from many global problems people worry about, inflation, interest rates, war, sanctions, institution stress. that's supposed to be one of the big appe

goldman sachs remains dollar -- is it right to say quasi bull? they want to hide in the dollar even to though the dollar is on track for a pretty big bruising this week. but you are looking at a shift in that yuan. i think it's size of the cut, dani which is the actual move. the move could reduce mortgage cost and lope demand and a property slump. is it a form of helicopter money? vicarious helicopter money? phil dobson can answer that question for us. mortgage rates, open up the floodgates for money. it's a form of helicopter money, paul, isn't it? paul: it's definitely another way that the pboc are trying to push some cash into the economy. we've been worried that the transmission mechanism hasn't been working all that well, manus pushing on a string that kind of an analogy. but things are taken more seriously by the market. you know action little less conversation, a little bit more action. [laughter] getting us. the market has been itching for something to get ahold of here to get that rally going in chinese markets. today, they seem to be ta

he should have been sitting at his desk at goldman sachs. he should have been planning outings with his family. he should have been able to enjoy all the things that new yorkers enjoy. new we're morning his death. spoke to his sister today. she was full of pain. she could not find reasons why someone took the life of her brother. hearing the words coming from the bronx, the commissioner and i stopped to see the parents of a 11-year-old baby that was prematurely taken to us due to gun violence. we saw it too afternoon. this is all fueled by the toxic gun laws. we try to rebuild our city. this is an impact that we will respond accordingly and ensure our city is safe and our transportation system is safe. part of our recovery is tied to the mta. that's why we are glad to have the mta as a partner as we move for toward to rid it of the violence that we're seeing. daniel was shot. we feel it in our hearts. we lost a fellow new yorker. one of the good guys. we're doing our job i say over and over again, they have removed over 2,900 illegal guns of

goldman sachs says now we could see some declines. it is just for now it for the long term, they expect demand to prop up prices past 2024 and whatever supply glut that emerges over the next year or two will be erased later in this decade. the amount of supply in the market right now is a little too much, too soon. yousef: lithium is up about 500% over the last five years, but the situation in china is shifting as well. i'm looking at brent crude lift about 50% since 2022. how is that likely to impact brent and wti from what we can tell in the data? stephen: you look at what is happening in china and there is obviously some bullish elements that could be emerging as china does open up. the government said they are going to open up some industrial parts of shanghai. they say the outbreak in beijing is under control. china is a massive consumer of energy and while prices are up significantly for the year, those games have been tapered because the chinese demand this appeared with beijing's assistance on zero covid. with that kind of dis

anna: staying with us is the chief global equity strategist at goldman sachs. we will get back to geopolitics. hungary sites progress on a proposed embargo of oil from russia, but warns more needs to be done before they can back the measure. this is bloomberg. ♪ tom: welcome back to be open, it's tuesday morning. we are almost 14 minutes and here trading day. gains of around .6% across the encz mark 600. -- the benchmark 600. the features for the nasdaq are stronger, up 1.5% after heavy losses yesterday. every single sector in the green apart from health care, energy and telecoms, autos, consumer and travel and leisure are leading the pack at this point. anna: european markets bouncing back a little. not so for oil stocks. the eu commission president flew to hungary to try to break a deadlock around imports of oil from russia. hungary says some progress was made but quote a lot more needs to be done. joining us now is our european correspondent, maria, do we get a sense of how imminent a deal on an embargo on russian oil we are given the pushback from hungary

goldman sachs employee shot in cold blood on the subway good make it the goldman sachs legislation. that will get business back and it will help a lot of people that don't like goldman sachs. another idea i had. aoc never talks about crime. she never talks about all these horrible things that happened in her own city. i actually went and looked and did research for the first time today and found out that her ideas for crime are nonexistent. the only thing she has for crime on her entire website is a reimagining public safety. i don't know what that means. she doesn't explain it. everything else is legalize drugs, empty the prisons, give felons the right to vote. oh, and one thing she sponsored in the house. she wants police officers to identify their name and department when they arrest somebody. that's it. she doesn't actually have a policy to fight crime. it is to fight police. >> katie: social justice. harold, what do you think? >> harold: i think tim scott would probably be pleased if they took the best of his stuff and tried to make something. i think we been trying to say poli

yet we're pausing and owning what we own. >> speaking of, pete, goldman, sachs. that was the one stock that you either own or bought this year >> yeah. goldman, sachs it was around the 312, kind of close to where it is now, a little below that based on the jump it is having today, scott one thing i would add, if you look at goldman, sachs versus jpmorgan, i continue to pound the table on price to book and the environment we're in, a trading environment is exactly why goldman, sachs did as well on earnings. you look at one times book and jpmorgan trading closer to one and a half or more, that's the reason if you make a change, maybe that would be the change i would make if i were in your position >> rob >> listen, i'm tempted by that when you look at jpmorgan, i think one issue that's driven them down a bit year to date has been their cost related to their employees. i think everybody suffers from that but they are in my mind the most dominant player in the space and to the extent you do have improving loan growth environment, i think they're a bigger beneficiary

goldman sachs morning the u.s. faces a very high risk of a recession as the bank slashes its growth forecast. china cuts mortgage rates for first-time homebuyers as it looks to boost the economy. data is expected to illustrate the economic toll of covid zero. shery: take a look at japanese equity markets, gaining ground by about 1%, the nikkei leading the gains. we see a little bit of weakness on the japanese yen against the u.s. dollar, this of course after the biggest surge in the yen against the greenback in about six months. the biggest gain for the first time on a weekly basis since early march. perhaps the freefall we have seen in the currency could be slowing down. we will continue to watch the space. we are watching jgb yields, fell towards for .2%. we watch any boj action now that we are seeing inflationary concerns now. we saw ppi numbers jumping 10% for the month of april year on year, which is a beat on the expectations, and of course commodity prices pressuring pricing power by japanese firms. take a l

this is bloomberg. ♪ shery: goldman sachs and bank of america saying that u.s. equities may more losses before the fed signals an end to monetary tightening. let's bring in our next guest who is remaining defensive. with this is frances stacy. good to have you with us. at a time when bank of america said the fed had offered no help to risk assets and appears far from stepping in. what do you do until the? >> i remain defensive and the thing is that the fed is tightening into a slowdown. we know that. there is a lot of data still to come this week, with revisions to the first quarter gdp and of course you get the pce and on wednesday the fed minutes but, no, the fed has not indicated yet it will come in. however, we are projected to make a similar move with cumulatively tightening from balance sheet operations and also from rate hikes as we did last time, except last time it was over a few years. we're going to be doing at this time as projected in a year. that time the fed had to pivot and this time we are doing it so quickly into decelerating growth, i think th

david sceo of goldman sachs david sceo of goldman sachs and our best deals on every iphonekewsong leee including the iphone 13 pro with 5 ceo that's the one with the amazing camera? yep! every business deserves it... like one's that re-opened! hi, we have an appointment. and every new business that just opened! like aromatherapy rugs! i'll take one in blue please! it's not complicated. . at&t is giving new and existing business customers our best deals on every iphone. ♪ ♪ what's it like having xfinity internet? it's beyond gig-speed fast. and it can connect hundreds of devices at once. that's powerful. unbeatable internet from xfinity. made to do anything so you can do anything. . >>> good monday morning. welcome to another hour of "squawk in the street." david faber is in l.a. at the milken institute global conference this hour interviews with the ceo's of carlisle and gold medal man sax. morgan brennan has the day off we hit a new interday low as we kick off the month of may. 30 minutes into the trading sessions, starting with spirit, the big movers, rejecting jet blue's takeove

a goldman sachs employee going to sunday brunch when authorities say he was shot and killed at random. tonight, the suspect now seen on newly released surveillance. they need the public's help. and what his record reveals. >>> the white house pressed tonight after president biden pledged to defend taiwan if china invades. mary bruce traveling with the president. >>> the baby formula crisis. a second flight from overseas now expected mid-week, after the first emergency shipment of baby formula arrives in the u.s. nearly 80,000 pounds of specialized formula. >>> police investigating disturbing video tonight, showing a violent altercation at newark airport involving a former nfl player and an airline worker. >>> russia escalating its attacks in eastern ukraine. ian pannell in the donbas region, about 20 miles from the front lines tonight, as the most prominent russian official to resign since the war began. tonight here, his blistering message for putin. >>> trevor reed speaking out about his nearly three-year ordeal in a russian prison. why he thought he wouldn't be coming home alone. >

goldman sachs, more optimistic. our chief global equity strategist, telling bloomberg the stocks are starting to look attractive. >> equities are starting to look attractive for medium to longer term buys. we have seen a huge absorption of a lot of worrying for investors now. the question is, where do we go from here? >> coming up next -- one of the biggest calls on china was never meant to happen. we get the details, ahead. this is bloomberg. ♪ ♪ >> this is "bloomberg daybreak: australia." treasury secretary janet yellen says the u.s. economy will suffer if the supreme court cuts access to abortion. she says eliminating the right to access abortion services would set women back by decades. >> i believe that eliminating the right of women to make decisions about women, whether to have children, what have very damaging effects on the economy and would set women back decades. >> elon musk says he would reverse former president donald trump's permanent banned from twitter once he takes control of the company. he to

goldman sachs say sterling is our strongest g10 fx underperformance. they are slashing their view to 1.19. a lot to take on board, the dollar remains triumphant. reporters are set to analyze stories in the markets. in the current -- our europe correspondent maria tadeo with the latest on the eu sanctions in brussels. dani: and we are joined from rome for a nato briefing and annmarie hordern on the ground in the uae. in china, the economy contracted in april. millions of residents have been confined to their homes and teresa forced to -- factories forced to halt production. joining us is our asia economics correspondent. economists found it very wrong in their estimates, what were they underestimating? enda: they were underestimating the hit from covid zero. we saw big falls in key metrics, industrial output, retail sales are down, that cost of the core of any economy, the survey jobless rate, and youth unemployment hitting a record. it shows that the economy has been split into turmoil by covid zero. the worst may be behind it, there was a briefing say

blankfein of goldman sachs saying we could look at a recession in the u.s. tom: an interesting call from j.p. morgan, they are upgrading some china internet stocks to overweight. this is the same team that put out the note saying chinese tech was essentially on investable, -- uninvestable, which we then found out was a mistake in terms of publication. significant uncertainties remain, but they should start to abate on the back of certain regulatory announcements. francine: u.s. futures also with a downward trend. the g7 wednesday will give us an indication of what could go right or wrong in the economies. on the u.s. board, the futures are down .6%. telecoms are advancing, bono phone climbed after an emirate firm bought 10% of the company. and the 10 year u.s. yield dropping. tom: we continue to watch for parity on the euro-dollar. essentially range bound. and starlink, this is part of our survey today, the forecast of 1.15 on pound-dollar at some point this year. 1.22 is where we are now. the u.k. front and center when it comes to concerns about stagflation

the astounding losses, citi, jpmorgan, goldman sachs and more taken out to the woodshed. are they so bad that they look good guy, you brought that up in relationship to these names. >> i think it's something work looking at you crawl through the wreckage and look at some of these things i will tell you i can't remember the last time, maybe karen knows, that bank of america and jpmorgan were trading at the exact same multiple to tangible book they are both trading about 1.7 times tangible book. now, listen, you could say that bank of america doesn't deserve that and maybe that's true jpmorgan certainly deserves a premium multiple and 120 was the level we talked about for a while. jpmorgan this valuation which you haven't seen maybe in 15 or so years makes sense and bank of america, by the way, this was a level we topped out at this 35.5, 36 level right before covid hit in january/february of 2020 so banks, people have been waiting for valuations to make sense. i think they actually are starting to make a lot of sense now. >> they may be making sense but then you may be wor

he worked at goldman sachs for years. his family was on "american's newsroom" talking about their loss. listen. >> when this happened, i didn't want it to be true. i didn't even want to find out. i thought the police were going to say it was a car accident. >> now abdullah had 19 arrests and more than a dozen incidents since 2014 according to the post. the career criminal was on the run since sunday. the family says more needs to be done to keep criminals behind bars. >> martha: thanks. the new york city mayor, eric adams, speaking out on this. he spoke with the family yesterday. now he plans to hold an emergency meeting thursday with business leaders that want more police on the subways before they bring workers back to the office. charles gasparino broke the story saying someone alert mayor adams before he runs for president, he needs to fix a few things in new york city. adams has denied a white house run in 2024 if president biden is not in the race. charles gasparino joins us now. good to have you with us today. this

goldman sachs has scribed a new piece. on batteries. investors wanting exposure to green energy transition got in too quickly. greed is not good. my colleague, paul wallace is here. one week they write a note saying there is a scarcity of everything. jeff curry said we could not buy enough. have they changed their mind on battery technology inputs? >> i would not say they have capitulated but this is a change in tone for them and they are not the first. if you look at the likes of citigroup, they said similar things. it is interesting. these are three metals that even goldman sachs says have very good future because of the uptick with batteries and electric vehicles and all of the metals needed for solar power plants and wind plants. they say for the next two years we will see a downturn in lithium, nickel and cobalt because investors got in too quickly. manus: our exuberance led to oversupply. >> they say if you look at these metals in particular, supply is coming on stream more quickly and that is why investment has been ahead of fund

morgan chase and goldman sachs to borrow $750 million in debt. it is still a long way from taking hold. the big transaction in the drug industry, pfizer has agreed to buy bio haven to gain an approved treatment for migraine headaches. they will get one half of new bio haven, the company will retain some. tom brady is not retiring but he will join analysts, the timing of his retirement is up to him. in march he said he would return to tampa bay after previously saying he would retire. he has seven zero championships. that is your latest business flash. 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 s

the goldman sachs chief financial officer. back to you in london and then we'll have plenty more interviews throughout the day for day two at davos. tom: thank you very much indeed. the central bank of china, pboc and the bank regulator asking lenders to boost lending and a reminder this is within the context of additional stimulus that officials have signed off on including $21 billion worth of tax cuts. infrastructure spending on railway and part of auto sector as well. none of that has done anything to address concerns. you're not seeing a lot of movement. the other piece of context that is important is we saw that surprise cut of the lone prime rain, the benchmark, five-year loans and mortgages. this is again a -- the central bank, the pboc and regulator asking banks to boost lending. in this concerns many officials about the impacts of the economy. coming up, we speak with a guest live from davos. that interview is next. this is bloomberg. tom: welcome back to the open. we are 44 minutes into the european trading day. in

goldman sachs and others say this is not surprising either. all of the week numbers coming out in april are just increasing the urgency of the government to do something. li is i think trying to push back against this view that maybe the government is not doing enough. that newspapers are talking about how much xi jinping has done for the country, how successful they have been, how well the covid zero strategy is working. but again, lots of steps being taken and announcements and meetings, is probably not going to change what growth is doing right now, and that has got to be the china government's true worry down the road. shery: goldman sachs also saying that perhaps this is acknowledgment that there will not reach the 5.5% growth target for the year. so given all of this news, not to mention the rbnz's very hawkish turn's and the bok potentially hiking today as well, i am not sure we will see positive sentiment in the markets today. what are you think? andreea: this is going to be a very interesting the bok meeting. it is the first meeting f

goldman sachs is losing its most powerful black women according to a report from the bank. they had 19 black women among executives and senior officials as of november 2021, down from one to five, the 24 black men stayed the same. the overall percentage of employees rose to 7.4%. the u.s. is forcing wall street banks to -- the largest ever and give education -- investigation into secret messaging. they will decide who gets to preserve these messages and unapproved platforms. as your update. the great inflation debate from the director of global macro strategy at don't ask -- at stowe next. this is bloomberg. this is bloomberg. ♪ the more efficient you become. such amazingly perfect shapes run throughout the natural world. and can now be found in the automotive one. the world's most aerodynamic production vehicle. the eqs sedan. kriti: this is bloomberg markets. i'm kriti gupta. something that caught my eye, inflation getting higher, costs rising around the world. here is something that caught my eye. the fed misery index, a combination of inflation and unemployment, at a

that was jan hatzius at goldman sachs. from new york city this morning, good morning. this is "bloomberg surveillance ." your equity market lower by 0.7% on the s&p, the nasdaq down by just about 1%. target stock is getting absolutely hammered. brutal for this name right now. it is -24%. it is about 0.298% of the s&p, but it speaks to a major worry or broadly. are we going to see a whole lot more of these concerns around margins through the next several months? tom: if i go into aisle four, looking for the speedo power flex swimsuit or marina swim trunks, but that is the heart of the matter that clothing. jonathan: unfortunately this is live and i can't rewind that. can we not even think about that? tom: i just love busting your chops. [laughter] our u.s. retail analyst with encyclopedic knowledge on the floor of the big-box stores, let's start with the basic questions. are you surprised at the market shock we have seen? reporter: we have been seeing it all year, so it is not that much of a surprise. we sought across the board, whether it was amazon, walmart, target. i

the top stories, goldman sachs warns the u.s. faces a very high risk of a recession. as the bank slashes its growth forecast for the country. haidi: china's central bank looks to counter a collapse in home sales and boost the economy. shery: nato prepares to add finland and sweden to the alliance, marking another dramatic shift in europe's security architecture furthered by russia's war in ukraine. we're seeing u.s. features gaining a little bit of ground at the open in the is in session after the s&p 500 so i strong rally friday. nasdaq 100 really outperforming other benchmark indices. the 10 year yield topping 2.9%. crude prices gained ground for a third consecutive session. we are seeing the extension of gains in the asian session. seeing the squeeze on refined products not to mention the russell diesel exports continuing to fall. but we are following the broader developments about this risk-off sentiment we have seen with anxiety in the markets. we are talking about u.s. stocks rallying friday but after a chaotic week. we are talking six weeks of losses for the s&

jp morgan, goldman sachs providing new loans. not equity, though some people thinking about how well capitalized this company is going to be. looking at a market cap, by the way, of just about $4 billion and you can just think about where that was before. a lot of pain, a lot of pain going on this morning. high-flying covid era stocks, others in that category like zoom and teledoc continue to trend downward is this the final act for the pandemic names portfolio manager at dcla and a cnbc contributor what do you think of these names? i'm curious of what you think of what we heard from jim about what mr. tepper is thinking about. >> a couple of things there, andrew i think these pull-forward demand stocks -- especially when you look at what's happening now -- they're going back to the credit markets, going back to borrow money when their demand is softening that's troublesome for equity holders. i think peloton has been the poster child for that where we're going from the pandemic to endemic. people are starting to go out and work

there was a report in the "wall street journal" about a new vacation policy at goldman sachs. nobody's keeping track anymore for the top guys, is that the deal >> i'm not sure that everybody's talking about this but we like our people whether when you look historically, people haven't taken vacation. we encourage people to take a vacation to recharge, it's a marathon, not a sprint we're trying to create best policies run competitive but take care of their families >> what does that look like? >> for senior people, most senior people have been at the firm a long time, they don't take their allocated vacations they can take the vacation they need when they need it i'm not concerned about how much vacation people working at gold plan s goldman sachs are taking >> some are saying people should be masked, we saw apple push back some of its plans limiting their in-office, given what's happening. >> we continue first and foremost, obviously, to focus on the safety and security of our people, but our people want to be in the office we continue to see an increasing nud number of people

well the warning is coming from goldman sachs senior chairman. we'll tell you details, right after this. ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire matching your job description. living with metastatic breast cancer means being relentless. visit indeed.com/hire because every day matters. and having more of them is possible with verzenio. the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause status. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor start an anti-diarrheal and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which

— oxford, he excelled, he went to goldman sachs, he married well, wouldn't — goldman sachs, he married well, wouldn't we all like to? that doesn't _ wouldn't we all like to? that doesn't mean to say that he can't be qualified _ doesn't mean to say that he can't be qualified to — doesn't mean to say that he can't be qualified to do a decent job as chancellor. the bigger question for me on— chancellor. the bigger question for me on the — chancellor. the bigger question for me on the rich list in general is this feeling that more and more of the spoils— this feeling that more and more of the spoils are growing to fewer and fewer— the spoils are growing to fewer and fewer people at the top of society. i'm fewer people at the top of society. l'm all— fewer people at the top of society. l'm all for— fewer people at the top of society. i'm all for wealth creation, i'm a capitalist. — i'm all for wealth creation, i'm a capitalist, but in a capitalist system, _ capitalist, but in a capitalist system, people have to have some at the top of segiety. at the top of society. leena- 4

a goldman sachs executive is killed in a subway and the family has a statement for the mayor. do your job. >> we didn't want to get involved in the ukraine conflict militarily for a lot of reasons. are you willing to get involved to defend taiwan if it comes to that? >> yes. n everywhere, man.♪ ♪of travel i've had my share, man.♪ ♪i've been everywhere.♪ ♪♪ for adults with generalized myasthenia gravis who are positive for acetylcholine receptor antibodies, it may feel like the world is moving without you. but the picture is changing, with vyvgart. in a clinical trial, participants achieved improved daily abilities with vyvgart added to their current treatment. and vyvgart helped clinical trial participants achieve reduced muscle weakness. vyvgart may increase the risk of infection. in a clinical study, the most common infections were urinary tract and respiratory tract infections. tell your doctor if you have a history of infections or if you have symptoms of an infection. vyvgart can cause allergic reactions. the most common side effects include respiratory trac

sachs. so, you don't buy it that often? >> no. this one will be interesting to see how it plays out >> j.b >> j.p. morgue the stock is off its high and this is now yielding more than 3% competitive with the 10 year once again this week as bonds rally and yields go down i really like the set up i think they can hold it for a couple of years. >> i hope you will all join me in "overtime" as professor sea gl joins me. woe have a look at the market at large as with well a dow has a loss of 250. it's hanging in pretty well all things considered. nasdaq down nearly 3%. i will see you in a few hours. "the exchange" is now. ♪ ♪ >>> thank you, with scott. hi, everybody. i'm kelly evans and there are so many trouble spots in the marketb, it's hard to pick are to start from snap to aber kraumby, the nasdaq is bearing the brunt of the selling pressure, with eefen though bauntd yields are also sinking. new home sales plunging last month. are we with headed for recession or is this just a post pandemic

. >> dana: goldman-sachs. >> jeanine: i'm sorry. it was goldman-sachs. mayor adams said i want jamie diamond to ride the subway, really? ok, this guy from goldman-sachs says -- he gets on the train in the middle of the day. gets shot dead for no reason. no reason at all. and the question is what do we do to stop it? we are the only state that does not allow a judge to have discretion to hold someone when they are dangerous. i don't know why that's the case. all of this nonsense of social justice, i'm tired of hearing myself say it. it's a bunch of crap! and here's the problem, you know, eric adams is talking about, you know, maybe -- or people close to him are saying maybe he'll run for president? you know what? you've been in office for five months. no one is impressed with eric adams. he hasn't done a damn thing for this city. everything that's gone bad with the subway, the trains and everything else, there was a billion dollars taken from the new york city police department. put that billion dollars back. get cops on the trains, subways, platforms. fi

your interview with goldman sachs, there is value for oppenheimer at goldman's in its $11 trillion global equity wipe out. tom, good morning. >> with a 6-12 month view, you can look to position in this market, even suggesting within technology, there are opportunities. we continue to focus on energy. on a day when the cpi print comes out of the u.s. and whether that entrenches this view from a concern about inflation to recession. when it comes to energy, earnings coming through in the european space, one line on the siemens energy earnings. the preliminary results published on april 9, if we get more lines we will bring those to you. that company's stock is down 25% year to date. >> good news, lifting the outlook. they warn of a cash burn, and a major steel conglomerate, what they said is raising the prophets 2 billion euros, cash flow remains restrained but downgraded to show a loss. you have full year adjusted of at least 2 billion and sales, net 10.6. the market is 9.44. it -- is it the head fake? >> may lend stocks in china are up today on relief that the numbers around covid have co

plus the hunt is on in new york city for a gunman who randomly shot and killed a goldman sachs employee just on his way to a sunday brunch. a man wanted for questioning is on the loose. he had 19 prior arrests. is new york's turnstile justice getting worse under its new mayor? we've got the very latest details. i'm david asman in for elizabeth macdonald. "the evening edit" starting right now. david: taking a look at stokes with the dow ending in the green as wall street ate least tries to recover some from a brutal week last week. the biden administration in cleanup mode after the he said the u.s. would respond militarily would attack taiwan. the white house is downplaying the comments saying they don't reflect a change in u.s. policy even though they dome. back at home american people are losing confidence in president biden's handling of nation's finance according to a new poll. edward lawrence with latest details from the white house. reporter: david, only two in 10 americans believe the economy is good under a new associated press poll that came out. we're dealing with record high g

sachs and he supposed to work at goldman sachs and just makes a beeline for wall street and didn't care one way or another about what he did. i watched people make that mistake and i thought if i just demystify this for people and to show how silly it kindha of is that my roommate will read this and think i don't need to do this. this isn't important work. it's a little silly. you are not adding a lot of value. instead, what happened is and it happened right away. like four months after i had a thousand letters from college studentsal saying i read your bk aboutt how to get ahead on wall street and i'm more enthusiastic than ever. thank you for writing it and can you give me any more tips that are not in the book. this culture especially, the english don't do this but i we , turn almost every book into a how-to book. people just don't have a read if they want to find the lessons in the book so the lessons in the book is how to get ahead on wall street so that has surprised me but subsequently i've seen those sort of things happen with others where people read them in a completely differ

we had citi downgrading, goldman sachs cutting to 4%. nomura one of the lower ones at 3.9% for their 20 growth forecast. now we are getting that cut to 3% for ubs. at the same time we are starting to see signs of potentially an improvement in momentum when it comes to chinese markets as investors are buying into internet stocks through an etf. president biden said they would be reviewing tariffs on imports. for more analysis let's bring in coal dobson. for such a long time and has been catch a falling knife. chinese assets. is there a better perception now that we are close? >> the vibe i'm getting from markets right now, have a look at j.p. morgan's weekly cross market note which came out overnight. leading right off unfavorable yuan -- what they are saying is the risk reward balance is leaning in china's favor. there are a lot of risks out there. chinese equities are very cheap. we are starting to see increasing signs of policy support coming through. a lot of the bad news, you know, the ubs forecast, it is a catch up. growth is going

goldman sachs really trying to get their employees back into the office. talk about 70%, 80%, 85%, according to the ceo of goldman sachs international. it's quite a different picture from the likes of the ubs ceo who says two thirds of the workforce are likely to always work in a hybrid way. haidi: it's quite interesting. it's something you are not seeing reflected when it comes to office rentals, certain on here in austria where a lot of ambitious plans are going ahead. the really is an expectation across some firms in some difficult -- demographics that we will see a full return to work. it's all part of the broader effort to try to attract and retain talent, especially younger, junior talent where there has been a seismic shift from the pandemic. we've heard about competitive sign-on bonuses, flexible working conditions and some other bonuses that are not monetary as well, to try to encourage the younger talent to come to these banks and also to stay. it's really quite interesting seeing these chief executives gathering in davos once again to have these

citi, bank of america, goldman sachs grabbing on to the jpmorgan bumper for a solid ride , 6.5% gain for bank of america and goldman sachs is jumping about 4% but you know, today's bump has not forced the bears to retreat their clues as investors continue to side- eye the federal reserve ahead of its june meeting. the big question is, will it continue on its current rate hike route or will it cave in light of recent market volatility? let's just look at the price of oil here. you might have your answer. right now, west texas intermediate the after market is barely higher but still about one-tenth of a percent to the upside, but at $110 a barrel and change, and facing the most skinny inventories here in the u.s. since 1987 which, by the way, was when oil consumption was 20% lower than what it is now, crude has clocked four weeks in a row of gains. translation whether it's oil or just about anything else right now, inflation has not cooled off. former fed chair ben bernanke participating in a rare q&a this afternoon with the brookings institute explained that the federal reserve's pote

there is an excellent chart that goldman sachs produces, using the goldman sachs commodity index. it goes back many decades. it compares the total returns of the goldman sachs commodity index to the commodity returns of the s&p 500 and it moves very broadly in what has been historically predictable cycles which last a long time. so what happens, once commodities bottom out versus the s&p 500 commodities tend to outperform over a longer term than i think the fellow you're quoting talked about 300%. it ends up being commodities can go up 800% more than stocks. in other words a 8-x turn of stocks. when stocks bottoms out veries commodities, it completely reverses, stocks outperform 800%. i don't think i'm going out on a limb saying commodities bottomed we talked about in the summer of 2020. and this is with again just to reiterate with the dollar going up. just imagine when the dollar starts to drop, which it will as we move into years ahead to the ridiculous deficit spending in the united states and ever worsening trade deficit in the united states, when you put the two together, we

sachs, we're heading for what could be a recession. how would you at a firm prepare for something like that? >> you know, i think it's definitely on the minds of every ceo out there, especially in the payments business. we track all of our consumer behavioral data, especially by that i mean repayment data and to date, there's really not been a service in the force if you will, but our business design, if you will, is we don't lend money if we do not believe the bern par borrowing can pay us back. that's the cornerstone of not charging late fees or doing deferred interest all the stuff the industry is infamous for , it's all about hedging your bets vis-a-vis well maybe this consumer is not okay but we'll make money on them anyway, we only transact with consumers we believe through our under writing models will be fine paying us back and as recession causes people to lose their jobs , et cetera, that is when i start worrying. to-date, america's fully employ ed. i think consumers are spending money they are earning and prices are going up

economists at goldman sachs have cut their forecast for growth. mcdonald's is leaving russia after within three decades. and take up to $1.4 billion. they said in the wake of the war in ukraine continued ownership of the business in russia is not consistent with the company's value. jetblue began a 3.3 billion dollar hostile takeover attempt of spirit airlines. it is urging shareholders to vote no on the takeover by frontier airlines. jetblue says it would pay the higher price if spirit agreed to a consensual transaction. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ t'was a difficult year, and yet a prosperous one for those dreadful capulets. something must be done. my son romeo has sought counsel with some strategic advisors. they suggest that we marry our fortunes with...the capulets. blasphemy! our two households combined in a merger? forgive me, lord montague, the integration would be a... a... nightmare. fea

we are speaking to the cohead of global fx and em strategy at goldman sachs, thank you for making us smarter on he on, what do you buy right now? kamakshya: i think emerging markets are a picture of both resilience, and fragility on the other. it is the places in emerging markets which are also hiking rates more meaningfully, have some degree of commodity exposure and are more defensive. a lot of these are in latin america. we expect the fed to hike 50 basis points. but it's also a week where brazil is going to hike another hundred basis points. chile is probably going to hike 100 basis points. poland is going to hike. you have to focus on that group of countries where you are seeing significant hike delivery , the yield is being rebuilt. on the other hand, you have fragility in the front tier market economies which are getting the brunt of this rate move higher and the commodity price shock on the other. tom: what is the dollar component, given the run-up we have seen in the greenback? kamakshya: if you look at moves in the last month, they are different from the first quarter. this

the chief european economist at goldman sachs joining us. how are you pricing and the ecb's reaction? >> the base case is that qed will and in june. we'll see the first 25 basis point hike in july. as you said, i think there's consensus building around the government counsel, more uncertainty and disagreement about the pace after that. our view is that the government can afford tied three years this year and four times next year. but there are risks in both directions. on the one hand, higher second effects, it is possible that will be in october. he risks on the other related to the possibility of a gas been, -- gas ban, and the possibility of sovereign stresses. for us three hikes this year, a lot of focus on second round affect, which could lead to more. francine: the problem is that the markets don't believe the ecb can hike, given the risk of recession if they hike interest rates. are we going to see parity on euro-dollar? >> they're certainly been a lot of downward pressure on the euro in recent weeks. it is feasible that with more div

a bit of breaking news on goldman sachs. it is effectively pulling out of most spac's over the threat of liability. the sec put new rules in which significantly increase for sponsors the risk there. this is bloomberg. ♪ ♪ guy: it is going to be an ugly close in europe. we will break it down. the close is coming up. this is bloomberg. ♪ what's it like having xfinity internet? it's beyond gig-speed fast. so gaming with your niece, has never felt more intense. hey what does this button do? no, don't! we're talking supersonic wi-fi. three times the bandwidth and the power to connect hundreds of devices at once. that's powerful. couldn't said it better myself. you just did. unbeatable internet from xfinity. made to do anything so you can do anything. whoa. guy: a tough way to start the week for european equities -- all equities. u.s. equities are not having the greatest day. this is the picture in europe. bright red across the markets. the ftse down 2.2%. we are near session lows. let me show you that session. this is what

that goldman sachs is calling for the end of that will market, which is different -- that bull market. the argentinian mining secretary is bullish about this place is because on the ground, they see ramping up of production numbers , it is hard, especially if you are transitioning to green energy and you have more hurdles, it is difficult to ramp up production. interesting to get these calls, especially when we hear from gary shilling saying that everything, every asset class has come down, commodities has to come down as well. haidi: talking about a lot of economic forces including the covid-19 lockdowns in china, how that is feeding into the demand destruction, the important destruction, also pointing out that when we get to that growth cycle, consumers favor services over goods. that is 20 have an impact in addition to the impact from the war in ukraine on the demand and supply side. gary is pointing out that we have issues like not economic forces like bad weather, cartel behavior, but it does feel like a disconnect. when you heard in panama is being reflected in what we here in a

comments from the former goldman sachs ceo on the signals he is seeing that a tough economic road ahead may be looming. >>> and the crypto crush continues. bitcoin below $30,000 mark as they struggle with the terra stablecoin. >>> the drama over the twitter takeover bid the tesla ceo says the legal team is accusing him of violating a nondisclosure agreement on the back of the comments of fake accounts. >>> it is biden versus bezos goes after the president after the handling of sky rocketing inflation. it is monday, may 16th you are watching "worldwide exchange" here on cnbc >>> good morning i'm frank holland in for brian sullivan let's kickoff the hour with the check on the markets and your money. stock futures are in the red dow jones industrial average taking a turn very early in the morning. dow jones industrial average will open in positive territory. s&p and nasdaq, however, in the red. this follows a big rally on friday dow climbs 1.5%. s&p up 2%. nasdaq really the big winner jumping 4% that wasn't enough to undo the tough week all of the indexes falling 2%. the nasdaq is the hard

economist at an goldman sachs have cut their outlooks. they pick the u.s. economy growing at 2.4% this year. mcdonald's is leaving russia. they said that shifted the business in russia, the invasion of ukraine. 83.3 billion dollar potential hostile takeover and shareholders may vote no on the airlines takeover. spirit will offer three dollars per share. they will entertain a higher price if they deal -- if they had -- if they -- if they agree with a consensual deal. this is bloomberg. ♪ ♪ ♪ the lower your drag coefficient, the more efficient you become. such amazingly perfect shapes run throughout the natural world. and can now be found in the automotive one. the world's most aerodynamic production vehicle. the eqs sedan. >> stagflation is the baseline. we are going to see real growth and frustratingly high inflation for this year and into next year. whether we get something worse depends on the soft landing debate. i think recession is something we must keep an eye on. jonathan: he was fantastic last week. it was perfect. tom: it was great, he ignore

now we have a call through from goldman sachs and morgan stanley today. david: let me start with the goldman call. they're removing taiwan and taiwan is underweight on market rates. within the aussie market they are talking about things like metals. they are keeping the risk in china, indonesia, and singapore overweight. this is what they are saying that is behind the rationale. when he percent upside is what they are expecting on the -- 20% upside is what they are expecting on the msci asia specific. -- asia-pacific. i'm going to make this simple. they are seeing a delay in the final leg of this bear market and to see for china. this might be the final leg of the bear market. they end on the price target for june of next year. that has upside for varying degrees of tightening digits from crib -- for crypto. juliette: let's get the first word news with vonnie quinn. >> consumer prices in china climbed again. pti was up 8% from a year earlier, above the estimate. consumer prices accelerated 2.1 percent as covid lockdowns go full cost higher. china risks of

from goldman sachs, are we looking at a possible recession? sharon: european inflation is already high single digits. you could see some double-digit inflation numbers coming through. you mentioned headline inflation has already gone very high, and this clearly hits cost of living. i think we are pretty close to recession through this year. you talked about the dependency of germany on russian gas, if you are to see that disrupted, there would be a deep recession. we think you appointed, but it is pretty close. . tom: how do you position for that, how are you doing that? sharon: i think a lot of investors are already position that way. if you look at cyclical stocks, the classic industrials and consumables, etc. they have already outperformed a lot this year. and commodity as well. a lot of that positioning has taken place. i think a great hedge against higher inflation, weaker economic outcomes too, are still actually commodity sectors. they will be hit by lower demand, but these companies have great cash flows that -- so i think that is stil

coming up we will have more on banks, citigroup's london office has -- while goldman sachs says it's traders have crashed the 100 million mark once every other day in the first quarter. more on that ahead. this is bloomberg. ♪ shery: price action has a selloff in the markets just before 10:00 a.m. on monday. traders and monitors are pointing towards a potential portfolio trade. it's likely exacerbated by the holiday and the u.k. this is what bloomberg has learned about this. we bring in bloomberg su keenan. we know that both equity markets really rebounded from the crash, but this sharp drop is pretty rare. su: pretty rare, and even if it's a brief drop, it could cause billions of dollars of losses in this era of computerized trading. that's what happened here. sources close to bloomberg with knowledge of the matter say a largest transaction made by bloomberg's london traders is likely to blame. the nasdaq was quick to point out there was no technical glitch on there and that could have been cited as a cause. it was very clear that the cause of the move was a very substantial trans

goldman sachs chief economist, shoppers in the u.s. are already relying on leverage. >> there clearly has been some real leveraging to some degree, but i don't think that's going to be the last thing support for spending. consumer spending will be slow. income is going to be quite weak in 2022. guy: speaking to us a little bit earlier speaking to us now is bruce richards. marathon is a $24 billion global credit manager. bruce is keeping a careful eye on what's happening. what do you make of the numbers today. what did you make of what walmart told us? >> retail sales up 1% thereabouts. it's a bit of a trick and this is why. the consumers not buying more. if you go to home depot, a consumer's walkout the store with less, but they spent a lot more because prices were up a lot. take this for example. retail sales and not inflation sales, it's a nominal number. cpi we recently had showed month over month airline ticket prices went up 18%. ticket prices are part of retail sales. so imagine if there's one item you have in your entire retail