shery: from panama city, i'm shery ahn. haidi: u.s. stocks closing your session highs as investors way jay powell's promise to tame inflation even if it brings some pain. chinese companies listed in the u.s. get a boost after beijing's public show of support for internet platforms. lust the australian election into the home stretch. prime minister scott morrison's government is closing the gap. shery: this was the picture across wall street. take a look at u.s. futures at the moment because we had the s&p 500 finishing at a one-week high. we had that solid number when it came to consumer spending, but also factory production rising at a solid pace for a third month. see u.s. futures extending those gains up .2%. we had stocks falling briefly to session lows in morning trading. we heard new york city raised the covid-19 alert. that took markets for a ride but we got treasury yields climbing. the curve flattening after the federal reserve chair powell said he won't hesitate to tighten above neutral. oil also gaining ground after it fell

shery: welcome to daybreak asia. our top stories, asia could see a calmer start of trading after a rebound for u.s. equities. investors awaiting the latest chinese and u.s. inflation numbers. cleveland fed president loretta mester tells us she backs half-point rate hikes but larger moves could still be needed. plus, sony flags fresh supply chain challenges that could have slowed production for playstation 5. we are getting the jobless rate out of south korea. this for the month of april coming in at 2.7%, which is below analyst expectations of the rate coming in at 2.8%. it's also at historic lows. this of course coming at a time where we have seen covid restrictions in south korea being lifted and we are now seeing the jobless rate following to that 2.7%. the same level as the previous month, and below analyst expectations, as we are getting those inflation numbers also accelerating in south korea with the jobless rate at historic lows and the inflation print above 4%. we will see what the b.o.k. decision will be la

shery: and from new york, i am shery ahn. welcome to "daybreak asia. " taking a look at top stories, a volatile session, investors waiting on whether the fed can engineer a soft landing. haidi: beijing goes to extreme lengths. plus, didi global is under investigation in the u.s. adding to scrutiny over its ipo at home. shery: japanese equity markets are away on holiday, but we are -- we're seeing upside, 7/10 of 1%. take a look at the kospi coming online, we have seen the korean won very weak. remember, we are talking about levels we have not seen since the global financial crisis in 2008. the cost beginning a half a percent. i am watching what we might get from the be ok because we have the meeting minutes coming up later in the afternoon. haidi: let's take a look as we continue to look at australia, traders and economists were caught off guard from the central bank and revision of inflation expectations, taking a look at the equities picture, a quarter of 1% higher. watching for yields as well. the 10 year yield is holding

shery: the u.s. takes aim at xi jinping promising to influence china's behavior by shaping the world around. haidi:haidi: a risk on mood on wall street. shery: broadcom steals one of the biggest tech deals in history with the acquisition of vmware. u.s. futures under pressure after the s&p 500 extended gains. we have solid retail earnings and falling mortgage rates boosting sentiment. dollar general forecasting better performance later this year. we have two stocks soaring. what a relief from last week when we had walmart and target. treasuries mixed. the dollar consolidating around april lows. we continue to hold onto a little bit of gains. u.s. fuel stockpiles tightened so that helped prices. it's what was happening around chinese earnings boosting the broader market. the golden dragon index gaining more than 7%. the biggest day in over two weeks. alibaba gained 15%, the biggest day in over two months given that the revenue and profit also beat estimates. a similar picture for baidu. haidi: could t

shery: paul allen. we will have more analysis on australia, and the election and the relationship with china. geopolitics with former australian prime minister matthew turned role joining us to assess the situation around the country. first, -- o staying defensive until there is an indication of a fed hike. he's expert -- she's expecting a recession. we will speak to her next. 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 wedne

this is bloomberg. ♪ shery: welcome, i am shery ahn. haidi: asia's major markets have just open for trade. asian markets are set for some relief from the stock route as sentiment stabilizes. 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

shery: welcome to daybreak asia. the fed raises rates by 50 basis points and signals similar steps ahead. >> there is a broad sentence on the committee that this should be on the table at the next couple of meetings. haidi: asian stocks said to follow wall street highs as investors take a sigh of relief that a supersized hike may be avoided. jamie dimon criticizes the fed, saying there is a 33% chance of avoiding a recession. shery: u.s. futures under pressure, this is after we saw the rally in the new york session. the best day since may 2020. after the statement, stocks struggled for direction. it was during the press conference that we saw moves higher with a nasdaq at 100. we also had the dollar index releasing the biggest drop in a month or so. this is as positions were cut after chair powell downplayed the idea of a 75 basis point hike. we are seeing crude prices peering back some of the early losses in the asian session. extending those gains anti-new york, the best gain in three weeks, and only because the u.

shery: welcome to "daybreak: asia." asian stocks make it a boost from wall street with earnings suggesting the u.s. economy remains resilient. washington's top diplomat takes aim at beijing, warning president xi will seek to dominate industries of the future. alibaba posts an earnings beat which could leave investor fears around covid lockdowns in china. haidi: here's the picture as we get into the start of trading. australian futurist looking firm, looking to reverse previous losses of thursday. they were looking like an early pop of 1% after u.s. stocks studied with a rally on the block -- on the back of positive retail earnings as well as the idea of a fed pause taking hold. we are ceiling -- we are seeing new zealand up despite consumer confidence number disappointing this morning. washing for a comeback when it comes to the dollar. we saw consolidation on support of monthly flows and that is potentially creating more weakness. the dollar yen holding study. the aussie starting to see more momentum despite concerns o

shery: welcome to daybreak asia. our top stories, the stock selloff set to continue in asia after a hot u.s. inflation print triggers a slide on wall street. treasury curve flattens as young -- long yields fall. hong kong defense is dollar peg for the first time in three years as currency hits the weak end of its trading ban. mixed results for disney, adding more streaming customers than expected, but warning subscriber growth may slow. the s&p 500 already fell to its march 2021 low. we're talking about relentless selling across assets with a very hot u.s. cpi print with a headline number at 8.3%. a little cooling but still a decade high. nasdaq 100 underperforming with the likes of tesla and apple leading declines. saudi aramco overtaking apple is the world's most viable company. not surprising given we have continue to see oil prices trending higher. we saw it rise for the first time in three sessions in new york, right now unchanged in the asian session. still at around the $105 level. we continue to see haggling

shery: a big we can geopolitics. g7 finance ministers and central bankers gather in germany wednesday. we also get the eu's plan for funding reconstruction, and details on how the region plans to cut dependence on marshall energy. president biden also visiting asia litter this week to meet with member nations. saturday, the contentious election in australia of course gets settled. and this week we will be live out of panama for the bloomberg new economy gateway. we will speak with leaders of latin american governments and businesses and delve into key issues across trade, finance, health and climate. join us for all of those very interesting conversations. those are the major events in your week ahead. let's now bring in our next guest, who says the dip right now across level stocks is worth buying, despite the geopolitical risks. with us is andy kapyrin, partner and co-cio at region atlantic capital. always good to have you with us. what are fundamentals telling you right now about where the opportunities are? andy:

shery: how big is the land? how much do you pay in terms of tokens are dollars for this partnership? poman: we can't disclose the size at this point, but it is a massive piece of land in megacity, but it is just the beginning. it is scheduled for completion in the fourth quarter of the year and is the first green metropolis with six interactive districts. there will be the regal hotels green hotel where we showcase sustainable operations. there will also be the first metagreen convention center for esd related conferences to showcase immersive events. there will be a sustainable-themed mall. haidi: are you -- shery: are you seeing interest from users? how are you going to attract them? poman: we aren't lunging until the fourth quarter. but in terms of interest from strategic partners, we have received overwhelming support. and this is very encouraging because it means we all share the vision to promote a more sustainable future. and we are joining hands to drive that transition to net zero. haidi: part of the pl

shery: and i am shery ahn in new york. our top stories this hour, asian stocks may rebound, with redmond not showing a planter can hawkish. china's premier says the economy is worse of it in some ways since the start of the pandemic, calling for more help to shore up growth. plus new zealand pledges to reign in inflation in a least cost fashion. we will speak to the governor adrian orr. u.s. futures not doing much in the early asian session, this after the s&p 500 fluctuated throughout the session here in new york, just to finish higher in the afternoon. consumer discretionary and energy leading gains. deputy i crude above the $110 a barrel level. u.s. crude stockpiles data is out, and a little more optimism from the fed not turning more hawkish than anticipated. we continue to watch the treasury space. it was a little bit mixed. two-year yields rising, very much sensitive to policy changes. they were headed towards the 2.50 level. the 10-year yield drugs today. we continue to watch -- the 10-year yield dropped today. we c

shery: and from bloomberg world headquarters in new york, i'm shery ahn, counting down to asia's major market open. haidi: and these are your top stories this hour. a volatile day seen on wall street. u.s. stocks swinging as traders look to bring down inflation without triggering a recession. and beijing goes to extreme lengths to contain the latest covid outbreak. we take a look at the outlook for china. and the protections of roe v. wade, does biden lack the votes to do it? we have china and japan for the continuation of the labor day holiday. this is shaping up when it comes to the start of the equity session. u.s. stocks ending higher. the aussie dollar with gains, leading in the g10. the dollar fell against just about every g10 currency in the overnight session. the worst month since march of 2020 for the aussie. take a look at new zealand's as well. it's possible we could she -- see a sharp decline in property prices. when it comes to aggressive easing, we had just about every forecaster and trader in australia with a much more hawkish move from the rba then had been expected. we

shery: right. world food prices eased a little bit in april after reaching an all-time high the previous month, according to the food and agriculture organization's food price index. but we are now seeing food protectionism on the price, governments -- on the rise. governments trying to protect their food supplies. let's maximo torero cullen, the chief economist of the u.n.'s food and agriculture organization. thank you for joining us. we are seeing more countries having restricted some of their food exports since the war in ukraine began. how will this impact food prices? maximo: what is happening is countries are reacting to the rising food prices. they were the highest in march as the food price index. end -- in april there was a slight reduction. we have around 60 measures. compared to covid-19, we only have about 7% of of the countries around the world with export restrictions. if we look at the food crisis of 2008, the number went up to 17% of the share of calories exported in the world. then

shery:. shery: our chief north asia correspondent, lots to cover. haidi: stephen engle in hong kong. well, the wreckage of a $5 trillion rout in emerging is starting to look like an opportunity for investors. let's talk to garfield reynolds, mliv jupiter. this week we had a pretty extraordinary election results over the weekend for australia. lots for investors to think about. garfield: that is definitely true. there is also a lot of chatter that maybe this is the bottom, maybe this is the time to buy, which sets us up for a fascinating couple of weeks considering that we have had a few buy the dip moments already that have turned into fresh calls for shares, both emerging and in developed markets to drop. one thing that is potentially going to come to the aid for emerging markets is china finally getting more serious about easing policy. that is very important if you're have chinese shares that will turn around, that could help bring emerging market shares up. the big concern is that going forward the rest of this year, energy prices both fuel

shery: always good having you on. up xfinity mobile runs on america's most reliable 5g network, but for up to half the price of verizon, so you have more money for more stuff. this phone? fewer groceries. this phone? more groceries! this phone? fewer concert tickets. this phone? more concert tickets. and not just for my shows. get $400 off an eligible samsung device with xfinity mobile. take the savings challenge at xfinitymobile.com/mysavings or visit your xfinity store and talk to our switch squad today. shery: we have news out of japan, we are getting the tokyo headline inflation numbers. rising 2.5%, coming in at a faster acceleration than expected for the month of april. also accelerating above that 2% pace, around 1% the previous month. core cpi numbers exclude fresh food which is a volatile item. you have acceleration of 1.9%. much faster than the previous month and also at a faster rate than was expected. exclude energy, you get core cpi and the acceleration of inflation in tokyo was 0.8%. the reason we follow

shery: i am shery and a new york, welcome to daybreak asia. president biden plans to -- with growing calls to remove levees. the president is stoking tensions with beijing, pledging to defend taiwan with military force. the white house later walking back that remark. asian stocks set for a mixed start after traders digest an early selloff in u.s. equities futures we have a big interview coming up next hour on daybreak asia could we will speak live to u.s. trade representative catherine who is in tokyo with president biden. that is at 8 a.m. hong kong time, 8 p.m. in new york. haidi: a muted start across trading in asia, sherry good australian futures are looking lackluster, looking like we needed that gain that we had in monday's session, up 3/10 of a percent. we are also seeing a little bit of a pullback when it comes to the sovereign bond space as well, although we did see treasury and what is historically supposed to be the best day of the year for the treasury's market. that was pretty poor. we saw yields across the spectrum really gaining

shery: u.s. gas prices over the last year -- we continue to see that volatility rain hi and those gas prices especially with the u.s. natural gas futures extending above the mark. we had a record april performance given daily inventories as well as signs of growing demand and we had colder than usual weather for some parts of the u.s. in new york it was pretty cold. that is sending prices higher. and european natural gas shortages continuing. bloomberg terminal users can read more about those stories on and i trade nl. the impact of the war in ukraine on critical supplies is being exacerbated by extreme weather events. a significant amount of raw materials needed for man-made fertilizers are being cut off due to the war while summer storms in the u.s. have disrupted production. the man in india is -- demand in india is being made worse by heat. the power crisis could worsen in the coming months. let's bring in our reporter on how these issues are impacting global policy. let's talk a little about

shery: we are counting down to

shery: what about value in the bond space? mona: i think that one is where we see a lot of interesting risk reward right now. i think bonds have had -- although we have felt it in equity markets, we felt it even more meaningfully in bond markets. the adjustment over just four months as been dramatic. keep in mind 10 year yields have doubled. we started in the u.s. at about 150 and we are close to 3%. the two-year part of the market has more than doubled, up 3.5 times. so do we think that will annualize? do we think that rapid rate of increase will continue the rest of the year? probably not. a large part of adjustment in bonds is probably behind us, so we think the risk we wore it is a lot more interesting now that we have seen in the past. shery: mona, it was really good catching up with you. you can find a roundup of the stories we have discussed throughout the day. get to daybreak, dayb on the bloomberg. and you can find all of those stories. this is bloomberg. ♪ is bloomberg. ♪ >> i think people look back on this

shery: i'm shery and in new york. our top stories, further losses and fears over the growth out look intensified. the dollar is at a 2020 hi. fed chief pushes back against the 75 basis point hike, calling half-point moves already aggressive. haslinda: and i am haslinda reporting live from manila, where the philippines are set for a deeper drop. a landslide presidential election victory. and we start you off with breaking news out of south korea. we are getting the latest current account surplus numbers coming in at 6.729 billion dollars. widening from the previous month of february. we are seeing the goods trade rising. this is widening from the previous month of february. of course, we are watching current accounts closely as we have higher commodity prices. and also, the rate in terms of trade in south korea, which is pushing the korean lawn lower against the u.s. dollar -- the korean yuan. export numbers in south korea have really kept up with double digit growth in april, as well, so we continue to see that streng

shery: welcome to "daybreak: asia." stocks set to open on an upswing after wall street's best week since november 2020, but i turning point looms when the fed could start shrinking its balance sheet. shanghai moves to repair its lockdown battered economy well beijing declares is covid outbreak under control. plus, will japan be opening to tourists? we will hear about the boost from the weekend. >> seen asian markets, online, this is have nikkei futures traded in chicago, this is one of the less liquid contracts. a lot a focus on the yen, the worst performing currency in the g10 space this year. some investors betting the weakness we are seeing could benefit the importers. that is another focus. sydney futures above that key 7200 resistance level. we did see the asx 200 closed at a three week high on friday and gains in new zealand looking more muted but we did have the jp morgan downgrading their gdp forecast, not predicting growth at 2.3%. it was 3.3% for the year. this does depend on what happens in china. some positi

shery: any of the trading in china? we hear about measures from policymakers to support the economy. >> yes. we have violation assets very depressed in the world. the yen, for example. but we also have it in the equity market and it is in the offshore equity market. so this is at the lowest ever. so the hong kong market has never been [indiscernible] so the strength of policy response to boost growth in the second half of the year, which will be key, or you could see, given the low violation, some significant -- once then the market response will be enough to lift growth. haidi: there are jitters in the green transition space. our assets looking cheaper? >> yes. among the market, you have the green transition but china is an interesting example because they are dominating the solar industry on supply chain and some valuation will become default bowl. -- defaultable. so looking at long-term investment in which we remain rather bullish. haidi: a few investors prefer australia, particularly following the election. is this

shery: the covid zero policy. we are also watching crude oil pulled back slightly as leaders of the g7 pledged to ban the import of russian oil over the ukraine were. su keenan has more. let's start with the g7. are we expecting an effect when it comes to oil prices? >> it should because it comes as the eu is still struggling to impose this oil pan, which is the key response. it was a video conference call with ukraine's president on the people of russia's victory day and after the call they pledged to ban oil imports from russia. several g7 companies already pledged to diversify away from russian supplies. germany has backed a plan for the eu to ease out of russian oil by january. g7 pledged is the furthest japan's prime minister has gone to halting russian oil purchases and the g7 statement includes pledges to continue actions against russian banks and the financial elite and family members. they also plan to prohibit key services and this is all designed to reinforce russia's isolation across all sectors of its

shery? shery: president biden is set for his first presidential visit to asia friday. he arrives in south korea for strategic talks with the new president made threats of more missile tests out of north korea. for the latest let's bring in stephen engle's in hong kong. steve, the president will be in south korea and japan for five days per to what is on the agenda? stephen: there is lots obviously. geopolitical concerns as well as the economic framework that of course bidens administration has been working on to unveil. that will likely happen in japan or at some point during these five days that he will be in south korea and japan. there will be a quad meeting of course on a strategic level. a lot of this is going to be bidens attempt to show that asia-pacific is a priority. look, this is the first trip to asia that biden has made and it comes relatively late into his first term. 16 months ago he was elected. most presidents, at least the previous four presidents came to asia within the first nine or 10 months. all of them went to japan. the top strategic partner in t

shery: in the u.s. we are watching monetary policy from the fed but also last week we had a disaster with retail earnings. what do you see in terms of the earnings outlook across asia? any bright spots or things you are worried about? >> in line with our growth force this year, the reason we still think we will be able to generate decent earnings, we still feel a bit more optimistic about south asian markets earning potentials this year and that hopefully includes india. for china and most asian markets, there has to be a bit of a downgrade that could still occur for the markets in europe and so we are cautious there but in the case of china, maybe we are getting close to the point where policy becomes even stronger and you start to see maybe a bottom in the earnings downgrade cycle. at least compared to three weeks ago, we feel a bit better about the earnings picture for china. the overall region, we are focusing a bit more on south asia and diversifying into the asia-pacific markets like australia. ha

shery: the top stories this hour. the fed unleashes the most aggressive policy action in decades, signaling a 50 basis point hike is the first to come to fight a soaring inflation. >> additional 50 basis point increases should be on the table at the next couple of meetings. we will make our decisions a meeting by meeting as we learn from incoming data and the evolving outlook. for the economy. -- evolving outlook for the economy. haidi: dashing expectations for the 75 point move saying that that is something that they are not considering. sophie: discussing the fallout of the fed's policy direction. >> the odds are something like yes they can engineer a, they can enter a mild recession. there is a chance it will be much harder than that. shery: futures are under a little bit of pressure, this is after stocks saw the best day since may of 2020. we had after the apple and the statement. after the press conference we saw them soar to session highs. the nasdaq 100 finishing up more than 3%. because the dollar index fallin

shery: take a look at the commodity space. we are seeing oil prices gaining ground extending the gains we saw in the new york session. we had a report pointing to the tighter supplies in fuel stockpiles globally. natural gas raging higher. gains of 14% given that we are seeing the flows from russia through ukraine continue to fall as the war's ongoing. germany saying that russia is using the energy exports as weapons. we are also seeing that war choke off supplies of ukrainian wheat. those prices are also gaining ground. when it comes to base metals, copper leading the decline. we are talking about the lowest level in seven months given concerns about the global demand picture especially with the chinese economic slowdown. >> a fallen profits during the second quarter of the sanctions against russia. the ceo told us that siemens has started winding down his business in russia after 170 years. >> it delivered a strong performance in q2. despite the challenging environment, now coming to a question of more challenging environmen

shery: u.s. features extending gains after the rebound last week, the best week since november 2020. we are seeing the upside for nasdaq 100 futures. haidi: we are getting breaking news from ado, the energy giant saying the board has planned to review the strategic direction. they agree the merger would not get sufficient support, they have withdrawn that proposal. this is the strategic review when it comes to the plan to split of their coal plants into a new company. there have been concerns there would not be enough shareholders support to proceed, that is the determination. the chairman will resign and we look at more details on this as it comes to us. this is bloomberg. ♪

shery: stephen engle the latest on tencent. now, steve was talking about the lockdowns and the ongoing pandemic. shanghai is slowly emerging him that six week covid lockdown, but we do have fresh outbreaks around key chinese cities in addition to the ongoing spread in beijing. that is raising the specter of more disruptive pandemic curves. let's bring in emma o'brien. what are we hearing from authorities so far? emma: i mean, you sort of captured it there. there's a very high risk of further restrictions for the next couple of months and potentially until the end of the year in china. as we get stuck in this covid zero lockdowns on, off, sort of loop. we might not see a lockdown in beijing but as you noted, there continues to be some 40, 50 cases a day there. and there are a number of cascading restrictions in place in the capital that mean you cannot necessarily freely move around. you cannot go into a park without being tested, for example. most districts are being told to work from home. you are seeing an emerging outbreak n

shery: from panama city, i'm shery ahn. >> australia is set for another election. the conservative coalition is battling to survive. investors are weighing the prospect of growth against inflation risks and tightening monetary policy. we are also hearing from panama city. >> this is a picture across wall street. another volatile session with the s&p 500 falling into the red. you are hearing futures muted. we continue to see treasury yields lower across the board. we are hearing about growth concerns. we have weaker than forecast jobless claims. oil managed to rise even in the new york session. choppy trading. equity markets paring back losses and that sustained the gains. sources are telling bloomberg that china is seeking to replenish its strategic stockpiles with cheap russian oil. it was all about sentiment. not that far off from the 20% decline from the closing high we saw in january. suffice it to say the uncertainty, the volatility is out there in all asset classes. haidi: also a great chart. let's look at our asian markets shaping up into what a week it has

haidi: shery: the greenback surges as investors rushed to havens. the dollar spot index seizes largest jump since the start of the ukraine war. we're talking today about the s&p 500 losing 3.5%. this following the best fed day rally since 2011 for the s&p 500 , it was the best day in two years. what a sharp reversal. we haven't seen such u-turns in quite a while. there are very few historically speaking. the previous day we had gains of more than 3%. u.s. futures at the moment not doing much. this after following the huge move we saw with 95% of companies on the s&p 500 losing ground in today's session. we had the dollar index also gaining ground. this after the best day in a month. it was really about the selloff in the treasury space especially with the long and yields rallying. we're talking about the 10 year topping 3% with the 30 year at one point surpassing 3.2%. we haven't seen those level since 2018. the reason it matters is because borrowing costs for companies and homeowners to go up, mortgage rates now at the highest since 2009. what a re

shery: i'm shery ahn from bloomberg's new economy gateway latin america in panama city. welcome to daybreak asia. our top stories this hour. asian stocks could be set for gains after u.s. rallies sentiment improving following strong data on retail sales and factory output. markets also weighing the most hawkish comments yet from jay powell who is promising continued -- to tame inflation even if it brings some pain. plus, chinese companies listed in the u.s. get a boost after beijing's public show of support for internet platforms. haidi: we will take a look at asia markets. markets in the u.s. shrugged off the most hawkish comments from fed chair powell saying he will keep raising rates higher until they get convincing evidence that inflation is coming under control. we also just heard from charlie evans in the prepared remarks of his speech to be delivered in new york saying that he favors frontloading before moving to a slower pace of rate hikes to get inflation under control as well. we are looking at a pretty good start to trading in asia. sydney futures looking like

>> you said you were the fbi but i didn't believe you. >> reporter: sheri was a discriminate of elder trawd. according to a recent fbi report older americans like sheri were academy out of $1.7 billion in 2021, 74% increase in one year. >> i was the target of an elder fraud scheme. >> reporter: even former fbi and cia director william webster was scammed. >> if it can happen to me -- i can happened to you. >> they're lonely, they're trust worthy and they are from a different generation. they respect law enforcement. they believe it's legit. >> reporter: how much have these scammers stolen? >> in the investigation i'm working, current $10 million to date. >> with u.s. collaborators who move the cash. >> we are in the process of an proceeding that gives you illegally -- >> we are in possession of an arrest warrant in your name. >> see this in huge capital letters, all this was a scam. >> reporter: right now there outs there and only a few arrests is been made. jeff pegues, cbs news chesterfield, virginia. >> still ahead on the cbs weekend news. planning a platinum party, fit for a queen

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. >> i'm shery ahn. g7 members come -- commit to banning oil imports to russia. >> china's premier warns of a complicated and grave jobs situation with covid lockdowns under major cities. >> in the first -- the fed abandon -- the philippines, >> down .6% after five weeks of losses. we are talking the longest losing streak since june 2011. on friday it failed to hold onto gains and ended at the lowest level in about a year. we have the nasa 100 underperforming with the 10 year yield still at about the 3% level. the wti price at the moment in the asian session is up .2%. this is around the six week high. we see the european union man it -- moving towards banning russian oil. in the u.s. jobs market, how does this affect the inflation picture not only in the u.s. but what the fed it and consequently, for new markets as well? payrolls are beating expectations in the friday number coming in 420 eight and matching march after the upward revision. what is interesting is we are seeing increasing pressure on the

shery: i'm shery and in new york. our top stories, further losses and fears over the growth out look intensified. the dollar is at a 2020 hi. fed chief pushes back against the 75 basis point hike, calling

shery: and from bloomberg world headquarters in new york, i'm shery ahn, counting down to asia's major market open. haidi: and these are your top stories this hour. a volatile day seen on wall street. u.s. stocks swinging as traders

sheri beesly is the former chief justice of the north carolina supreme court. she lost her last race by three votes. she is a formidable candidate. and ted budd is as closest thing to mastriano as you can get. while we're talking about the fringes of the party, in this race in north carolina, the fringe is you cannot paint cheri beasley out to be sanders. you cannot. she is as close to center moderate democrat as you can get. ted budd is the fringe. ted budd is everything that represents trumpism and everything else. while you may be jumping for joy, what i'm saying is democrats are excited not only about fetterman, because we believe he has a chance. but i guarantee if you talk to a democrat tonight who is in the know who is fundling money who wans to bundle money and dollars, they're going to say the name cheri beasley over and over and over again. >> i'm glad you butted your way in. that was a very good point. even with the chicken wing sauce on your tie. >> hey! i had calamari with the -- what's the sauce called? >> sriracha. >> tried to hide it. >> it's la

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shery: the top stories this hour. wall street slumps with a trillion dollar stock selloff. recession concerns. the nasdaq plunged 5%. haidi:

shery: welcome to daybreak asia. our top stories, asia could see a calmer start of trading after a rebound for u.s. equities. investors awaiting the latest chinese and u.s. inflation numbers. cleveland fed president loretta mester tells us she backs half-point rate hikes but larger moves cou

i'm shery ahn. we're counting down to asia's major market open. haidi: dubais -- did buyers boost ahead of

shery: the top stories this hour. the fed unleashes the most aggressive policy action in decades, signaling a 50 basis point hike is the first to come to fight a soaring inflation. >>

. >> from bloomberg's economy gateway latin america in panama city i am shery ahn. >> u.s. stocks pricing their biggest daily drop in almost two years. higher pricings hitting corporate earnings. the dollar and treasury gains a minute pickup in haven beds. consumer and retail hit the hardest as recession fears rise. target is suffering the biggest selloff since 1987. tech is under pressure. this stock is plummeting after hours. >> we are live at bloomberg's new economy gateway latin america in panama city. day one ended. what conversations we had about the macroeconomic prospect for the region, we are here in panama but we are not seeing vessels queued along the panama canal. we have seen record amounts of cargo showing supply chain disruptions and of the evocations of all of that including inflation concerns continuing to rise and perhaps the central bank tightening really starting to effect the economy. we will discuss all of this was another packs a of major voices ahead including alexander coming me from the bank of international settlements. the howard group and argent

we are working hard to get bills marked up to the justice sherie committee. i hope we will send a number of bills to the senate for action. , i think so many americans are hoping exactly that, so you stay on it. i know you will. thank you so much for staying with us. in just a moment, it is being called an assault on the rule of law. the republican leader of the house is the alleged perpetrator. and we remember to heroes from the texas school shooting. even was a school educator for 17 years. her last act was trying to protect your students from the gunman. irma garcia was doing the same thing. how her husband died after while preparing her funeral. funeral. for state controller, only yiu will save taxpayers money. wait, who, me? me? no, not you. yvonne yiu. yvonne yiu. not me. good choice. for 25 years, yiu worked as an executive at top financial firms. managed hundreds of audits. as mayor, she saved taxpayers over $55 million. finding waste. saving money. because... yiu is for you. yiu is for you. exactly. yvonne yiu. democrat for controller. self-driving c

sharon is and i can in this country serene his butterfly on the journalism, sheri and i followed up with her news or every time, day or night. sharina is a very professional, a journalist, and she suspected by the audience and by the policy is that she was, she deserves all respect from the presidency, the policy in the presidency and the palestinian people. we celebrate and we respect journalism here, 3 journalists. we appreciate her role and appreciate the role of the professional journalism and the role of the nationalism that and following up with the crimes. our condolences to you at al jazeera, just re english algebra because then at worker and we appear alco lawrence's love to everyone for a year in rome, a law office because this is a big burden. this is a shark. it's quite impossible to assassinate and kill such a professional journalist with the bulls from the occupation forces in order not to make their truth clear to every one. this is a crime. thank you for your can townsley appreciate that israel has offered a joint investigation inches, sharon's death won't take him up on

alright sheri griffin of planned parenthood. appreciate your time this afternoon thanks again for coming on the show. thanks. well from planned parenthood to anti abortion activists. they are expressing support today of the draft opinion and coming up a little bit later at five. we're going to hear from one of the most active anti abortion advocacy groups in the state. and whether a little bit of a warm up today in fact, quite a bit of a warm up today across the entire bay area, and it looks like this trend will continue in most areas for tomorrow. so for most neighborhoods tomorrow should be the hottest day of the week with lots of sunshine out there, but the beach is not warming up too much. so here's kind of our thinking as we head into your wednesday as we check out the forecast a warmer wednesday. temperature is kind of a big temperature range from 60 degrees all the way to run 90 degrees. patchy coastal fog, and tomorrow will clearly be the hottest day inland as we cool things off, especially by the weekend just for refere

that moment where toward the end after it was patriot or portrait, whatever he was trying to say and shery does that back tap? i think the back tab like his note when he touches knows there's some i don't know if it's unconscious in thee back . i was like, okay, joey, time for the shuffleboard on at the end of the hall.out. we're going to move you out now trouble and they need to get an electric shock collar. laura just sort of you know, i got to get back to the script and you know, that was that big story this week that they're usingt that kind of fake white house set in the executive office building because t it has the teleprompter there for him. but you could set up a teleprompter in the oval office. the reason they're not doing events in the oval office is it encourages him to talk to people around him and get garrulous and that always leads to trouble. but look, i want to tiest together two big stories tonight for us . the l.a. district attorney's failing to prosecute the guy who attacked dave chappelle with a felony after r running ae the comedian while on stage at the hollywood bow

i can do to fix the pronounciation of the as and probably this is how the whole story started with sheri. and i knew sherry in in 2000, this is when we started to get closer during the invasion of from allah. and it was everyone's life was on the line. but sharon was also the one who was taking care of every one. she always hated the fact that i run into the story without thinking about the consequences and how i put myself in danger places just to get closer to the story because i'm just like that. and i was shot 3 times and every time she will insult me badly about how i don't think before i go to the field. so this is the 1st lesson that she taught me that you need to think before you go, you need to calculate your steps before you go. when. so i will say that, look gone, sorry. yeah. now what was she was? she was my idol, like whenever she is in the field, i was just looking up for her was following every single story that she does. because i was so into her style in which you just gave me the information with the little bit of space of emotion, but you don't turn it into a poet stor