the u.s. saudi relationship into a new phase of crisis. the biden administration, along with bipartisan voices in congress, via the move as a flagrant snub in collusion with putin. the saudi's for their part maintain the move was entirely due to economic self-interest at home. the question that arises, what next? does this latest crisis signal a significant rupture in a relationship many have argued has outlived the strategic logic of america and become more of a liability? or is it yet another bump in a frequently rocky but still vital partnership, always based more on mutual interests rather than shared values? to tackle these questions, i'm very pleased to welcome our distinguished panelists. senator chris murphy of connecticut, as a member of the senate foreign relations committee. he's been a long-term advocate for revising the saudi-u.s. partnership. we have a leading saudi scholar and activist, who focuses on human rights, health, and gender relations. and ambassador martin i., a distin

next, u.s. consumer prices rising by more than forecast to a 40 year high in september, likely securing another big fed rate hike and potentially more. academy securities shows how that affects their market strategy next. this is bloomberg. this is bloomberg. and it's easier than ever to■ get your projects done right. inside, outside, big or small, angi helps you find the right so for whatever you need done. with angi, you can connect with and see ratings and reviews. just search or scroll to see upf on hundreds of projects. and when you book and pay throug you're covered by our happiness it's easy to make your home an a check out angi.com today. angi... and done. ♪ >> i do not know if it will be a soft landing. i don't think so, but it might. mild recession or tough recession. in a tough recession, you expect to the market at 20% or 30%. i will not keep eyes across those three things, but for all of us that worry about risk, you should plan for those things. >> jp morgan ceo jamie dimon tal

the u.s. experience here. i'm not going to go into talking about the 17 nations that fought in the war, we're really going to focus on experiences of american troops so, as we talked about in this class before, we talked a little bit about the principles of war. and one of them is that war on paper, such as these kinds of maps and drawings and strategies, by the main decision makers, is not the same kind of war on the ground. weather and terrain, of course, are key elements in any military decision. military historians have not adequately addressed how these things affect the individuals and how they affect the landscape of the places where the war is fought. they have certainly done a good job of explaining the importance of weather and terrain to war making decisions. but i think that we need to look at the wars from an environmental perspective to understand the sort of ramifications that these conflicts take. and have. so, many of the soldiers and marines that end up in korea, especially i

u.s. officials are discussing national security reviews for elon musk's various ventures. on twitter to tesla after his russia-ukraine tweets, especially given tesla's strong presence in china and ai development. the white house may put more restrictions on china technology from ai to quantum computing. and apple design chief that will replace johnny i've is leaving the company. how she impacted the product lineup and what it means for iphones, ipads, and the incoming mixed reality headset. first, let's get straight to the markets with bloomberg's ed ludlow. we made it. happy friday. ed: it was a happy friday in the markets. in a week where there was a lot of anxiety. results from snap, a really precipitous plunge. tesla missing top line for the first time since the third quarter of last year. fed speak. fed speak. fed speak. lots of anxiety. yields pushing higher. and we really rallied hard on friday across the s&p 500 and tech in particular. the nasdaq 100 in-line with that performance.

the u.s. says it believes monday's attacks were planned far in advance. >> when you look at the size and scale here of these missile and drone attacks, more than 80 reportedly, that's not the kind of things the russians can just throw together in a couple of days. it likely was something that they had been planning for quite some time. that's not to say that the explosion on the crimea bridge might have accelerated some of their planning, likely this was not in retaliation but was something very much a continuation of putin's design and target specifically ukrainian civilian infrastructure. >> ukraine says the military needs more advanced weapons to take on russia. mean while, russia is warning them giving kyiv more weapons would be crossing a red line. volodymyr zelenskyy said his people will not be intimidated. >> translator: the occupiers cannot oppose us on the battlefield and that is why they resort to this terror. well, let's make the battlefield even more painful for the enemy and we wi

with the u.s. market, there may be a margin, the impact of the global supply and demand picture is more than it is. paul: let us talk more broadly about the market action we saw today. back-to-back gains for the u.s. equities market. what does this mean? does the bottom end are we back talking about another selloff -- or are we back talking about another selloff? >> there is so much nervousness about the rally and every time we flip back around again. we have seen swings of 2%. 1.5%, something like that. as a market is volatile at the moment and enjoying the birth of reassurance -- the reassurance. we are intrigued by a comment i was reading overnight talking about how it is great to have this and a fresh, real-time update. rather than the backward looking data we tend to react to on the day-to-day basis. things cannot say that it is the forward look. people are battling down, people are prepping for the inevitable slowdown. shery: is volatility inevitable in u.k. assets? we are still expecting inf

as they work to undermine u.s. economic security and fundamental human rights, including those of americans. we also see a coordinated effort across the chinese government to lie, cheat and steal their way into unfairly dominating technology sectors, putting u.s. companies out of business. there economic assault and the rights violations are part of the same problem. they both flout the rule of law. it is to make it easier to steal our innovation. they tried to silence anybody who fights back against their theft. companies, politicians, individuals. just as they try to silence anyone who fights back against their other aggressions. we have another example. there attempted obstruction of an independent judicial process to give underhanded help to one of their companies accused of breaking our intellectual property laws and deny justice to that company's victims. since i started as fbi director, i have been repeatedly sounding the alarm about the chinese governments disregard for fair business practices and for the r

tiffany has big u.s. exposure. we saw growth there. the u.s. going from 26% down to 22% down to 11% by q3. that is partly about the u.s. moving to europe to spend. there is a slowdown in silverware for tiffany. but gold is phenomenal. dani: that is lvmh. what sort of reader cross does this give for the luxury sector as a whole? deborah: most of the luxury sector being based in europe, we've definitely got fx benefits. the lvmh sales saw 800 bits of benefits. that will help with reinvestment into 2023. big pickup in market spend, more social media events. so, it is positive into the third half -- third quarter. they carry most of the fx further into the first half. china reopening more into q4 in the first half of next year. dani: thank you so much for joining us. deborah aitken. that is it for daybreak. ♪ ♪ - if you're thinking about going back to school this is for you. ♪ ♪ - i ended up spending less money my entire time at snhu than i did in just one year at my other university. - my time at snhu has given me more confidence. now i ca

u.s. stocks fall and treasuries gain as investors brace for september inflation data. the s&p 500 hitting a fresh low for the year. haidi: minutes of the last fed meeting show them committed to restrictive policies. shery: opec slashes outlook for global oil demand making the case for its contentious supply cut. u.s. futures higher by about .25 percent after the the s&p 500 fell for the sixth consecutive session. there was a lot of volatility after we got the fed minutes, potentially suggesting a recalibration when it comes to the pace of rate hikes. at the same time we are focused on u.s. inflation numbers on thursday. the 10 year yield fell below the 390 level already. this of course after we saw that volatility rise in the treasury space and gains across the curve. we had wti following for the second consecutive session. we continue to see the pressure in the 80's and session specially after we got ppi numbers in the u.s. that came in higher than expected. really leading to concerns tha

the u.s.-backed nation prime minister ariel henry and the deployment of troops to haiti. we will speak to guerline jozef about the crisis in haiti and look at how the u.s. is treating asylum-seekers from haiti and venezuela. then, president biden promises to enshrine abortion rights into federal law if democrats win -- keep control of congress with the midterm elections less than three weeks away. pres. biden: here's a promise, to you and the american people, the first bill i will send to congress will be to codify roe v. wade. we will speak with congressmember cori bush. she faces reelection in november, just wrapped up a "roe the vote: reproductive freedom tour" across missouri, where abortion was banned after the supreme court overturned roe v wade. we'll talk in-depth about her new memoir "the forerunner: a story of pain and perseverance in america." all that and more, coming up. welcome to democracy now!, democracynow.org, the war and peace report. i'm amy goodman. aid groups are sounding

u.s. is reportedly bringing in more fire power near the peninsula following a string of north korea's missile tests. a u.s. air craft carrier strike group is on its way off the korean peninsula. the move comes after they test fired two more nuclear missiles today. that is 25 this yearment the highest number since kim jong-un came to power. on wednesday the u.n. security met to discuss pyongyang's program and the u.s. accused russia and china, without naming them, of enabling north korea. >> as we all know, the dprk has enjoyed blanket protection from this council. they have gone out of their way to justify the dprk's provocations and block every attempt to update the sanctions re regime. in short, two permanent members of the security council have enabled kim jong-un. >>> paula hang cobs is standing by from seoul, south korea. this is an extraordinary number of tests in a very short space of time, paula. >> reporter: it is, max. it's what's a record of missile launches that we're seeing th

u.s., japan, and south korea hold joint drills. you are watching al jazeera. also coming up, the world's top oil producers agree to cut production and used prices. the white house accuses them of aligning with russia. vladimir putin signs a lot to annex ukrainian regions. hunger and desperation in somalia where millions are starving and what could become the worst famine in a generation. hello and welcome. we begin with breaking news from north korea which has reportedly fired another ballistic missile. the u.s., south korea and japan have been carrying out military drills in response to an earlier launch. the u.s. navy flagship aircraft carrier are heading there training with the south koreans. u.s. fighter jets have also carried out drill with the air force the missile was the first to fly over japan in five years. the un security council held an emergency meeting to discuss the incident. our diplomatic editor has more from the u.n.. >> the facts are clear. so far, there have been 23 occ

u.s. president joe biden gave a stark warning about nuclear talk coming out of russia. president vladimir putin hinted using nuclear weapons is not off the table. statement came after the military racked up losses in the ukraine. wednesday night mr. biden responded to that threat saying there's no such thing as the ability to easily use a tactical nuclear weapon and not end up in armageddon. after the speech u.s. officials made it clear they did not see any change in russia's nuclear posture. phil mattingly explains, mr. biden's statement caught even some u.s. officials by surprise. >> for the white house there have been months where they have warned of the potential for escalation that could reach the degree of the nuclear weapons by president vladimir putin. he's obviously warned of it himself saber-rattling as recently as friday. his speech announcing the illegal annexation of four areas in ukraine. president biden warned the potential of armageddon making it very clear in his mind ther

u.s. jobs report. more hawkish comments from fed officials stress a commitment to crush inflation with rate hikes. >> until i see evidence that underlying inflation has solidly peaked and is headed down, i am not ready. shery: elon musk scored a win as a judge holds his case against him, giving the party three weeks to close the $34 billion deal. haidi: breaking news through the central bank in the country hiking rates by 25 basis points to 7%, as expected. economists surveyed by bloomberg . this would force another rate hike by another central bank as inflationary pressures rise in peru, two above and 8% level in september. activity is losing momentum. supply shocks are increasing cost adding to concerns in peru. you can see peru is just one of the latest that continues to hike rates across the region, now by 25 basis points to 7%. we move into breaking out of south korea. we are getting current account numbers, a move to a deficit of $3 billion for august. it had seen a surplus in previo

the u.s. house of representatives -- soul seat in the u.s. house of representatives. also, gerald malloy, he is a u.s. army veteran who works in emergency management and defense. here's a format we're going to use today and for the rest of our 2022 general election debates. in our first segment i will ask common questions to both candidates. you will each have 60 seconds to answer. the second segment, candidates will ask each other questions. you have 30 seconds to ask the question and 60 seconds to answer we will turn to a series of questions submitted, candidates will have 30 seconds to answer. it is possible i will ask follow-up questions. then we will have a lightning round of questions with very brief answers, about 10 seconds. we will conclude with one a minute closing statements from each candidate. let's get started. please limit your answers to 60 seconds and a reminder, i may ask follow-ups. question one, you have both been on the campaign trail for quite a while. no doubt meeting ma

so the u.s. global leadership is strongly needed. >> you are a very good politician and you are good at the game of chess. how do we move the germans? you mention germany has been slow to send weapons and in particular not the tanks ukraine has requested multiple times. i know german public opinion favors doing more on ukraine but the political league is holding back. how do we change that? >> my guess is that at the end of the day we will see the germans deliver the tanks. i think that is the german problem, that the end of the day , they will do the right thing, but after so long, it seems they are being pushed to do the right thing. i am following the debate in germany quite closely and i have seen that the german position is in favor of delivering the tanks. i have also seen that the governmental parties are in favor of that, even some social democrats have indicated an interest in doing so. i think we can build sufficient pressure on the german government. what might be needed would be a pub

the u.s. midterm elections after -- later in the broadcast. the supreme court has put a temporary hold on a judge's order that would require south carolina republican senator lindsey graham to appear before a georgia grand jury to answer questions about his efforts to overturn the results of the 2020 presidential election. on monday, justice clarence thomas granted senator graham's emergency request to put the subpoena on hold temporarily while graham's lawyers push to have it quashed permanently. democrats have demanded justice thomas recuse himself from cases related to the 2020 election because his wife ginni thomas spread false claims about a stolen election and lobbied federal and state officials to overturn the election results. supreme court rules obligate justices to withdraw themselves from cases where there's even the appearance of a conflict of interest. in minnesota, former minneapolis police officer j. alexander king -- kueng accepted a deal monday that will see him plead guilty t

u.s. stocks slide, the s&p 500 posting a second straight day of losses ahead of the crucial jobs report, the dollar and treasury yield rises. >> traders digesting more hawkish investors, and their mission to crush rate hikes. >> underlying inflation is headed back down hopefully. i'm not ready to declare pause. >> elon musk scores a win with the judge halting twitters case against him, giving the party three weeks to close the $44 billion deal. u.s. futures extending losses in the asian open, this after every sector and the s&p 500 was in the red, except for energy. the energy sector was up, given double ti prices are -- wti prices gaining ground. this after that production cut announcement by opec. we have the 10 year yield also rising again for the second session, above the 380 level. the hawkish commas coming from the fed, being felt across of the. market this has to do with data we had jobless claims arising more than expected. numbers out this morning, showing a robust labor market. t

what kind of buying does this place the u.s. in. what does the u.s. have to do to keep a lid on gasoline prices? >> those numbers that just came out were positive and i think the most's -- is supply demand improved. and i think the u.s. is going to be in a situation where they have to consider bringing back some refining capacity. >> that's can it take quite a long time even if they wanted to. in the meantime what happens? >> we probably continue to see gasoline prices stay elevated in the u.s.. you not to get this poll back to where we were pre-covid, those days are gone. refining capacity takes time. putting an export ban on u.s. products which i think is -- i'm being led to is not necessarily going to get the results you want because it will create so much volatility and a spike in international prices that will play back through to the market and actually have the unintended consequences of raising gasoline prices in the u.s. as opposed to bringing them down. i think that's a tricky answer. on the near term i don't think it has a solution. guy: re

are you don't risk u.s.-russian confrontation, confrontation between nuclear powers that could escalate to a nuclear level? our organization supportive of supplying weapons to ukraine to defend itself, but that cannot be a one note policy is certainly not a policy that says we're going to crush putin that backed him into a corner. former of the joint chiefs, lead pointed out, that is what you least want to do. yet to look at in offramp is even president biden said with respect his concerns about the nuclear issue. there has to be a offramp but they have not defined that. we don't know perhaps there is some sort of behind the scenes talks going on. there has to be a diplomatic strategy, diplomatic track. he can't just be about weapons and we're going to defeat putin. as satisfying as that might be, and nuclear power, don't want to make them think is survival is in the mix here because you don't know what that will lead to. it has got to be a discussion on the merits of what the balance of diplomacy versus sup

the u.s. futures at the moment under a little bit of pressure that after the s&p 500 just had its best two day surge since april of 2020. nasdaq futures are under pressure and oil prices also under pressure. they surged at opec-plus. output cut of 2 million barrels per day. still about the $86 a barrel though. this of course all to do with investors hoping the central banks might the fed and rbnz shift to a slower pace of tightening and that really is fueling investor optimism in the market. this follows the rba's smaller than expected 25 basis point rate hike. our global economics and policy editor, kathleen hays, is here with the latest. despite investors optimism and expectation that the fed might have it, that is not the rhetoric coming out from officials. >> that is a hope that does not seem to be based on listening to the fed closely or watching the data. we want the fed to pivot. we want them to be done and let stocks rally again. the fed does not support that in the least, this idea th

u.s. jobs data solidified bets on another jumbo rate hike from the fed. chinese markets reopened in the wed, -- red, weighed down by concerns over global interest rates and fresh u.s. curbs on technology. vladimir putin accuses ukraine of carrying out saturday's attack on a key bridge linking russia to crimea. you have had reports of explosions in the ukrainian capital of kyiv. futures pointing lower by 1.2%, after bloodletting towards the end of the week. the volatility in markets focused on these data points. the expectation that maybe you get a pivot from central banks, that was put to one side when you saw the strength of the u.s. jobs market, unemployment back to a record, 3.5%. the spanish ibex currently down .6%, in the u.k., the ftse 100 down 28 points as the boe says they will continue to provide liquidity within the gilt market. over in france, you're looking at losses of more than 1%. let's see how things are looking on a big week for earnings. jp morgan, blackrock, and apple is

they may go to the u.s. and saying it is getting uncomfortable, we do not want to risk of the crisis we saw on the 1990's, so maybe it is time to do something about it. traders will be looking for any chink in the armor, but there will be some sort of coordinated intervention. it is not been on the cards so far, but in the past it came out of the blue. so it could be a big week for foreign exchange markets. yvonne: mark, when it comes to chinese markets coming back online, what struck you the most in the pain we're seeing right now in china? mark: obviously as you were saying earlier, the high-frequency data during the holiday is not helpful. but if you are looking for one single thing traders are focused on, when we saw the immediate reports coming out from china earlier today, they were still resolutely defending the covid zero policy. traders want to see it gone. they could only get really optimistic on china equities and they know has been put to bed, and that china is reopening. until that happens it wi

so the u.s. is not alone but it's role has been to act to make negotiations harder to achieve unlikely. that is as recently as late april as far as we know most of what the united states can do is stop acting like that. stop -- drop the official position that the war must go on to weaken russia severely, meaning no negotiations. will that open a way for negotiations? diplomacy -- only one way to find out. if you don't try, of course it won't happen. if i may, i would like to add a word about something that was touched on but not developed sufficiently in my view and it is highly signicant, china. what is happening with regard to china. it is barely being reported. but it is supreme significance. there has been an agreement that has held for 50 years called the one china policy, in the 1970's. the agreement is between u.s. and china that taiwan is part of china -- not in question. ither party, u.s. or china, will act to disrupt the peaceful relations that persist. it is called stratic ambiguity. i

that argument has failed to sway the u.s. so far. one u.s. official said it is, quote, low reward and high risk. ukraine has the rockets it n nes for the current fight against russia. alex from cnn. >>> much more ahead including damning investigation from abuse and sexual misconduct in u.s. women's soccer. when we started selling my health products online our shipping process was painfully slow. then we found shipstation. now we're shipping out orders 5 times faster and we're saving a ton. go to shipstation.com /tv and get 2 months free. our internet isn't ideal... my dad made the brilliant move to get us t-mobile home internet. oh... but everybody's online during the day so we lose speeds. we've become... ...nocturnal. well... i'm up. c'mon kids. this. sucks. well if you just switch maybe you don't have to be vampires. whoa... okay, yikes. oh sorry, i wasn't thinking. we don't really use the v word. that's kind of insensitive. we prefer day-adjacent. i'll go man-pire. >>> the u.s. supreme court kicked off their new term monday adding nine ca

wednesday, u.s. ppi and thursday, the all-important u.s. cpi data, will inflation still be running hot? and friday, u.k. home prices. manus: the former u.s. treasury secretary larry summers on his outlook for the u.s. economy. potent language. will the fed be forced into another jumbo hike? we discuss right here on bloomberg. ♪ >> i think we are headed for a collision of some kind or other, and we have just got to manage that carefully. the sooner we start managing for some slow, the better we're going to do. chairman powell was way late to come to that recognition, but he now has that recognition and should be supported in that. manus: former u.s. treasury secretary larry summers on his outlook for the economy to keep tightening. christian kopf is our guest, head of fixed income at union investment. with the drawdown in the bond market, this collision course is breaking something. we are far from broken in the treasury market, we are just getting started with this drawdown by central banks, is it a fracture or the beginning of a break in

>> they are losing on both ends, on the chinese and u.s. side. on the u.s. side, u.s. companies want to sell to the chinese. at the end of the day, the chinese want to develop their own technology. if they cannot have access to that, the chinese are losers as well. tom: what does this mean for producers of some of this environment in the netherlands? do we know if they can continue to supply to china at this point? woo jin: in prior discussions with the u.s. as well as other semi conductor manufacturers, there were some restrictions in terms of the smaller geometry technologies, so i do not know if this is something that is new , but i think this is going to be something that is more definitive in terms of blocking these kind of technologies from china. alix: what if a u.s. company cannot get his part from china in some capacity? selling stuff is one thing, but what if they need something? woo jin: fantastic question. there's a lot of focus on the higher technology right now, but the issue is china makes a lot of these commodity chips that the u.s. still relies upon. s

the u.s. iss closer to civil war than many of us would like to think or believe. whatnc i thought it would make sense to do is we get launched is to give you a chance to simply lay outnd what your argument is in broad terms and then we canan dig into bits and pieces of it as we go along. >> guest: yeah, so my argument comes from studying civil wars for the last 30 years. i've looked at all regions, all countries that have experienced civil war since the end of world war ii and the ribbon over 200 of them. one of the things we've learned is they tend to break out in similar ways and the same factors emerge in the lead up to these wars the matter where they happen. in 2017 i was invited to serve on the u.s. government taskal force. they have a task force called the political instability task force. i served on that until the end of last year. the goal of that task force was to come up with a predictive model to try to predict where around the world countries with experienceli instability and pol

a former top u.s. health official is sounding the alarm on rsv, a respiratory virus that's putting a major strain on pediatric hospitals across the country. rsv case numbers in the u.s. are at their highest level in two years. this, according to data from the u.s. centers for disease control. rsv is a common cold-like virus but can make younger children seriously ill. former fda commissioner scott gottlieb says parents should remain vigilant. >> for parents who have children who have an upper respiratory infection, many times they're testing them, finding out it's not covid and feeling relieved. they still need to be vigilant it could be rsv for early flu. you see progressive symptoms seek out help from a doctor. >> symptoms include a runny nose, decreased appetite, coughing and wheezing, sneezing and hay fever. >>> we have new details on injuries from a stabbing attack new york state in august. his client has lost sight in one eye and one of his hands is incapacitated. andrew wily says the author also

a u.s. judge has halted the court case on elon musk for the $44 billion twitter buyout, giving the parties until october 28 to make a deal. twitter had objected to the request to pause the case, saying that musk should close the deal next week. evidence points to a detonation to the nord stream pipeline by -- being caused by deliberate acts. there was no indication of how the detonations happened or who might be responsible. and president biden is pardoning thousands of americans convicted for the possession of marijuana and organic -- ordering a review of its legal status. he has issued a blanket pardon for all crimes in federal charges of simple possession. he has urged the state governors to do more. the biggest cannabis investor in the country had shares that surged 34% after the news. global news, 24 hours a day, on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. francine. francine: thank you. coming up, w

the u.s. and a new home prices come in, they fell in september, the concerns around how healthy the economy is and i have also seen that way on the tech stocks. kathleen: a wild ride in the past 28 hours with what the companies are reporting earnings and how they have been reacted to. meta down 19% in after-hours. the metaverse is more expensive to build out as sales weaken. a combination of twitter and elon musk going into the quarters with a sink in his hands. alphabet rebounding a bit after getting pummeled in trading. google is down another 7%. the best person i know to talk about this is ed ludlow. >> let us start with meta. investors really soured. below expectations. we went into this knowing what the story is, softness in the ad market and it is causing executives on the earnings call to speak on that. her budgets have been reined in. what investors are not liking here is a zuckerberg and meta's commitment to spending in this transition to the metaverse. they said that we should expect

the u.s. has imposed more export controls on chinese tech companies. 30 phones have been added to a so-called unverified list. it prevents beijing from accessing advanced semi conductor technology. more news in a half-hour. you can follow those stories on aljazeera.com. "inside story" is next. ♪ laura: what is behind north korea's latest missile tests? pyongyang has launched six rockets into two weeks, including one that flew over japan. what message is north korea sending, and how should the international community respond? this is "inside story." ♪ laura: hello and welcome to the program. i'm laura kyle. north korea has dramatically increased the number of its missile tests. it has conducted six in just 12 days, including the first intermediate range ballistic missile test in five years. it landed in the sea of japan on tuesday. that launch prompted the japanese government to warn people to seek shelter. the u.s., japanese, and south korean militaries responded with live fire drills a da

the u.s. tax court ruled taxpayers cannot use plus new potential game changer lawsuit and chicago reveals officials do little to nothing to track violent felons democrat policies set free from prison and truckers in an uproar joining the military against biden's vaccine mandates. they cite unvaccinated illegal immigrants crossing the border and this debate the political peril of who the gop will try to impeach first if the biden in the biden white house if they win back congress. i'm elizabeth macdonald, "the evening edit" starts right now. ♪ we began with stocks taking hits today, nasdaq down nearly 4%. watch the trends, stock trading, volatility and stock trading volatile as bitcoin trading right now. oil heading to 100 a barrel on opec's 2 million barrels a day cut and solid jobs report to likely keep the federal reserve on the path of raising interest rates across the board. the 5% increase today and hourly wages wiped out by 8.5% inflation eating alive americans purchasing power. edward

the u.s. says it will hold rush holt -- russia accountable for air crimes. air forces are taking part in the alliances annual nuclear exercise. there will be conducting training flights over belgium as well as the north sea and the u.k.. britain's prime minister has been accused of running scared after failing to address parliament days after replacing her finance minister. new chancellor announced a -- on last month's [inaudible] >> it will remain at 20% and will do so indefinitely until economic circumstances allow for it to be cut. taken together with the decision not to cut corporation tax and restoring the top rate of income tax the measures i've announced today will raise around 32 billion pounds every year. >> u.s. midterm elections are less than a month away and the candidates vying for one of ohio's senates seats have taken part in a televised debate. ohio is said to be a tight contest. republican and democrat are now can in the polls. authorities in nigeria are struggling to get reli

. >> if we see the u.s. go into recession, how severe do you expect it to be and how long do you expect it to last? >> this is the thing no one really knows you have a strong consumer going into it. businesses are in good shape they were resilient during covid. even ones with no government support. governments did do a hell of a job with the recovery. you never know you have to look at the range of out outcomes a lot will depend on what happens in the war the one guarantee which we have been consistent is volatile markets. you have already seen markets down quite a bit bridge loans being hung. that is typical. that is still orderly. i think you could see disorderly in some time in the not too distant future. >> how do you think the fed is doing managing this situation? >> give them credit for covid. i hate to second guess people. it is easy for everyone to do. you know, in hindsight, they waited too long and did too little qt should have started that. they are catching up from here, we see success and keep o

u.s. earnings season that begins at the end of next week. and the big banks may be able to deflect some of the weakness we have seen across markets. they will be in a good position to be able to tell if the u.s. economy is as strong as the job numbers tell us. and they might be able to benefit from some increase in the u.s. as well. so maybe some people are hanging back and waiting to see what comes out of u.s. earnings for the third quarter as they start to come through. that could be laying a part in this. the u.s. dollar is already strong. so again, some people might be reluctant to push too far ahead of that. then we have the u.k. as well. chancellor will be speaking later today in the u.k. and the pound was causing a lot of eruptions last week. people will be looking for direction. there are plenty of reasons for people to be more cautious before they make the next big move. but the bottom-line is traders in general find tv or -- find it easier to jump on negative stories. and it need

the case where u.s. equities go down more is any hard landing scenario where recession is significant. guy: great stuff. thank you, ellen hazen, chief market strategist at fl putnam investment. still ahead, tesla under pressure. the carmaker blending disappointing deliveries on shipment issues. we will talk about whether it is supply chain or demand issues we should be worrying about here. this is bloomberg. ♪ >> it is time for the bloomberg business flash. shares of credit suisse fell to a record low today. the cost of insuring the bank against default climbed to a new high. the ceo tried to calm employees with a memo but it backfired and investors rushed to the exit when trading opened after the weekend. kim kardashian will pay almost $1.3 million to settle allegations that she is legally touted a crypto security. according to the sec, she used social media to promote a crypto asset security offered by ethereum max, but failed to disclose that she was paid $250,000 to do so. tesla delivered almost 34

amy: the u.s. supreme court begins its new term today with a historic first as justice ketanji brown jackson will become the first black female justice to ever hear a supreme court case. key issues before the court this term include affirmative action and voting rights. and indigenous activist and actress sacheen littlefeather has died at the age of 75. in 1973, she took the stage at the oscars on behalf of marlon brando, who boycotted the ceremony to protest hollywood's portrayal of native americans. some members of the audience booed and mocked littlefeather as she addressed the awards ceremony wearing traditional apache clothing. >> very regretfully cannot accept this very generous award. and the reason for this being our the treatment of american indians today by the film industry -- excuse me. and on television, in movie reruns, and also recent happenings at wounded knee. amy: the actor john wayne reportedly attempted to remove sacheen littlefeathefrom the stage but was restrained by six secur

tensions between the u.s. and saudi arabia escalating sharply this week with u.s. officials accusing the saudis of strong-arming opec into cutting oil production and helping russia maintain its war machine in ukraine. >> the saudis had conveyed to us both privately as well as publicly their intention to reduce oil production, which they knew would increase russian revenues and potentially blunt the effectiveness of sanctions. we made clear that that would be the wrong direction. >> reporter: the opec plus decision to cut oil production by as much as 2 million barrels per day hazrat led the white house, which now says it is re-evaluating its relationship with the saudis, one of the u.s.' most important middle east allies just months after president biden traveled in an effort to mend an already faltering relationship. >> i am in the process, when the house and senate get back, they're going to have to -- there are going to be some consequences for what they've done with russia. >> reporter: multiple sources also telling cnn that other opec plus members, including th

the u.s. has condemned the attacks. >> today, terrorist russia shelled kyiv and other cities throughout the country. with at least 84 missiles and two dozen uavs. energy facilities, residential buildings, schools and universities. museums in the city centers were among the targets that the russian defense ministry labeled legitimate. anchor: a refugee agency says conflict has forced a record number of people to flee homes. the organization says it may be forced to make cuts. protesters and cities across iran have kept pressure on the government after the death of a young woman in police custody. students rallied. the electoral commission has declared a winner. the revolution for prosperity party has one constituencies, five states shot the navarrette majority. the leader news to find a coalition partner. a storm is hammering central america. el salvador has declared a national emergency. at least 18 people have died after flooding in a north indian state. some schools of close. the nobel prize

. >> did the u.s. or a proxy for the u.s. have anything to do with the explosion on the north stream pipeline? >> united states had nothing to do with it. it's just raush propaganda it and disinformation. now we know it was an active sabotage, but there's an investigation going on right now. i don't think we're going to get into -- into credentialing that in terms of, you know, who was responsible. we're going to let the investigators take a look at that, but clearly this was an act of sabotage. >> so you can officially say that the u.s. was not involved in any way in this attack? >> that's right. that's correct. >> not to belabor this, but for the people who look at this and say why would russia attack its own pipeline. that creates leverage the west. what do you say to them? >> again, i can't speak to specific accountability for this active sabotage. i just assure you that the united states have nothing to do with it. of course, that's just russian propaganda. >> so notice the question. did the u.s. -- did the biden adminis

the survey indicates the u.s., the premium for u.s. stocks will remain in place and as peak hawkish and us does become apparent, investors are prepared to return to the u.s. treasury market in droves. the greater finding that came out of this is if you look at where to invest over the longer term, at some point, the survey found the u.s. would be the best place to put your money. haidi: the imf's first updating manager says the imf could pose a risk if banks have not properly hedged their borrowing. many nations are in for a rocky ride as they adjust to dollar strength. >> when you have sizable movements in the dollar, it has sizable implications for the global economy because it is so dominant in trade and finance. the important thing to keep in mind is that there are fundamentals driving these. they seem very steep. tightening is one factor. i think this is going to be rocky for countries but they will have to adjust. they have to use their own monetary policy tools to keep inflation -- >> let me stay with the major countries and loo

china needs the u.s.. the u.s. needs china. $600 million in trade last year between the two countries. i think the more u.s. business can keep trying, do business, china do business, that is going to help the sanity of this relationship. >> and domestic policy also at play when pelosi visited taiwan. given the reaction you saw from beijing, how would you assess how volatile this side of the world is right now? >> i think it is very volatile. i would be very much opposed to a visit. it was a huge mistake, but it happened. the reaction was what we predicted, china is very upset. even though china wants a peaceful resolution to taiwan, china is starting to step up the timetable pyramid is very possible. this is very concerning. the navy chief said a few days ago he expects possibly china to try to forcibly take time on by 2024. with a statement like that, it makes the trip even that much more sensitive. i think it is important for the united states to think very carefully about its relationship with taiwan because a m

u.s. inflation numbers. minutes from the fed show officials are committed to restrictive policy while the boe sparks pound and guilt all the to liddy with a lot of mixed messages out there and we speak exclusively to the u.s. ambassador to japan as president biden's inflation active transport investments in u.s. supply chains. rishaad: here is a look at what is going on with markets. that inflation read we are waiting for out of the u.s., going to be crucial. you can see it is a broad-based markdown. we are also seeing just a little bit of a balance, if you will, for some of these regional bond markets, but if you look at australia, we are seeing yields on the way up. essentially it is really at the moment i guess all about the chips side of things. we had some breaking news a couple of minutes ago. yvonne: reporting that ksm see, they have gotten that one-year exemption. i like what we have heard from sk hynix in south korea. news about samsung might also be getting a free pass at least f

the u.s. economy? is that fading a little bit? >> i think it is relative to its peers. when we look how it is performing relative to its peers, there is a strength and momentum in the u.s. economy that even the tightening financial conditions, it is with a strong labor market and consumers continuing to expand. the u.s. is performing pretty well on a relative basis but i see some signs in a way that the good news is bad news for the fed that all of this resilience we are seeing in the labor markets means the fed needs to lean against demand that much more in order to cool the economy to bring down inflation. this makes me a bit more pessimistic about the outlook for the u.s. economy. kriti: what is interesting is the pessimism that lorena was just referring to but does that just mean that the case for treasuries off that thesis doesn't exist anymore? >> i was thinking that it kind of makes to forces, some of these structural demand forces that are going aside. and also the u.s. economy is rema