17 Burst results for "Brian Schuch"
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"Made a surprise visit to Ukraine on Friday where he spoke at the united for justice conference and met with Ukrainian president zelensky. I'm Brian schuch. And I'm Charlie palette. At Bloomberg world headquarters. We checked the markets all day long at Bloomberg, a rally in the S&P 500 helped snap a three week losing streak on the week the S&P was up 1.9%. Stocks today were driven by speculation that the Federal Reserve will not raise interest rates beyond peak levels already priced in. As for where the data leaves the fed in 2023, Deepak puri is chief investment officer at DWS investment management. It's a toss up in terms of where the terminal rate ends up being our base case scenarios that we go another three 25 basis point rate hike for the march May and June meeting and then we see a false until the second quarter of next year. But the risk is definitely on the upside given the very strong data that we keep on getting. Deepak puri of DWS investment management. At TD securities USA pria misra, the global head of rates strategy is saying no to larger rate increases. I do think they stay in these 25 basis one increments because we're nearing the end. Whether it's 5 and a quarter or 6% or somewhere in that range, I think they go 25, but if they don't see a slowdown in growth and inflation, I think they could keep going well into July potentially September and made policy a lot more restrictive. I think the economy needs time, not more hikes. TD's Priya misra, date of this week showed continued labor market resilience in the U.S. supporting the case for the fed to keep tightening policy, Jerome Schneider is head of short term portfolio management at pimco. Clearly the fed is data dependent, but that's also going to create an evolving process, not necessarily that now that we're approaching the 5.45 .5% terminal rate that people expect. But more importantly, that the cutting mechanism is focused less on supporting growth and that goes for the ECB two as well. But focusing on fighting inflation. We know that. And that's a fundamental change compared to where we've been over the past few decades. Jerome Schneider, the Federal Reserve, meanwhile, has set its semi annual monetary report to Capitol Hill, and with that story, here's Bloomberg's Vinny del giudice. The fed tells Congress more rate hikes are needed to quash inflation and restore price stability the report sets the stage for next week's congressional testimony by fed chair Jerome Powell. The Central Bank is waging its most aggressive action against inflation in a generation. The fed's report also addressed financial stability and expressed concern about the current valuation of stocks and real estate. If any doubt Jude ice Bloomberg radio, stocks rallied today, in fact, the NASDAQ 100 had its best day since early February today the NASDAQ 100 index climbed by 2%. The NASDAQ composite index up 2% rallying 226 points S&P 500 Index up 64 a gain of 1.6%, the Dow up 387 up 1.2%. Global news powered by more than 2700 journalists and analysts and over a 120 countries, I'm Charlie palette and this is Bloomberg. Bloomberg radio on demand and in your podcast feed. On the latest edition of the tape podcast, a conversation with Sylvia jablonsky of the ETFs. You kind of have the ETFs out there already that, you know, a track and represent the classic sectors that investors want access to. The second wave of products was really in the thematic space and you started to see these cool broader themes, you know, like whether it's space or EVs and things like that. Now you have, as you said, this Jim Cramer long short. I think providers are just coming, trying to come out with something new that will gather assets that will represent something that people actually want to trade. And people do follow Jim Cramer and have strong opinions either way on his stock. Wait, what's a successful ETF in terms of size? What's considered to be a successful ETF? What kind of clothes do you need to see? Yeah. You know, it depends on the management fee. So obviously the higher the fee, the lower the thresholds that you need for success. So if you have an ETF that has 90 bps to 1% and you gather 20 million, that's sort of a decent baseline. But if you have an ETF that's priced at ten, 20, 30 bucks, you need to see hundreds and millions of assets to actually really generate a profit on that product because ETFs are actually pretty costly to run on the back end. Talk to us about the trend of mutual funds converting to ETFs. I find that fascinating kind of where are we in that process and how do you think it plays out going forward? You know, I'm young enough where I've invested in ETFs for a really long time and I've worked with people who are really like mutual fund believers, hardcore, we shall find believers and thought that the ETF would go away. I mean, it's just really hard to argue that mutual fund assets will remain where they are. ETFs are
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"Spotify and anywhere else you get your podcasts. A former Republican state House candidate in New Mexico is in custody after a string of shootings that targeted the homes of democratic officials. It is believed that he is the mastermind that was behind this and that was organizing this. On Monday, police in Albuquerque announced the arrest of Solomon Pena a supporter of former president Trump who lost his race during last year's midterm elections. At least 8 people are injured after being shot during a Martin Luther King Jr. day event in Florida on Monday. It happened in fort pierce where the community was celebrating a car show and family fun day and investigation is ongoing. Former British prime minister Boris Johnson says he plans to publish a memoir like no other about his time in office, the book currently has no title or release date. His time in office was marked by scandal, including party gate where Johnson and his staff held gatherings despite public health restrictions during the COVID pandemic. I'm Brian schuch. And I'm Brian Curtis in Hong Kong. Let's get you caught up on this hour is top business stories and the markets. China's economy grew last year at the second slowest pace since the 1970s. Fourth quarter GDP grew 2.9% year on year. That was better than an estimate of 1.6%, but COVID restrictions did hammer overall activity. That said, the data in December did add to optimism that China is primed for recovery. Bloomberg's Paul Allen spoke with Hartman issel head of apac equities and credit at UBS wealth management. Yeah, I don't think the data matters much because we do think every investor also understands that this is a different world from the world. We're going to have say one, two months from now when everything is fully open. So in that sense, maybe a bit too backward looking. What I would also say is that as long as the data is as low as it is now, if you fall forward into this year, then you are getting easy basic effects all the way until the end of the year. So I just say this is probably market support. Where do you see growth hitting in 2023? We think of what we should hit this year, the upper end of it. And also let's remember, in terms of the first quarter still contains one part or at least one month where you have to peak, you have Chinese New Year, you have maybe a lot of people are going to work yet because they're secret. It's all right. So this has to normalize, but then afterwards, and then remember in the second quarter, I think we have a basic 0.4% GDP growth from last year. So that should be very easy to beat. So these numbers that bound to come up. Hartman, thistle, from UBS wealth management, industrial production grew 1.3% from a year ago that was better than expected. Retail sales were down 1.8%, but that was far less than the estimate of a drop of 9%. The new owners of chip maker qinghua uni group in China are exploring ways to stave off creditors. The company may sell industrial property or float fast growing business units such as a local rival to Qualcomm. The company needs to raise capital after a $9 billion bailout. Activist investor Ryan Cohen has taken a stake in Alibaba going his advocating that Baba increase stock buybacks and in the market today, Alibaba is trading up for tents of 1%. Key Apple manufacturing partner Foxconn technology has appointed a new boss for its iPhone assembly business. That's after a tumultuous year in China. Michael cheung was first identified in his new role at Foxconn's yearend party on Sunday. He succeeds longtime leader Wang Chang Yang. Let's check the markets, the hansing index is down about 1%. The nikkei up 1.3% and in Taiwan the tayak trading up about a tenth of 1%. Dalian won 28 78. Global news 24 hours a day live and at Bloomberg quick take brought to you by 2700 journalists in a 120 countries. In Hong Kong, I'm Brian Curtis. This is Bloomberg. Bloomberg radio on demand and in your podcast feed. On the latest edition of the Tay podcast, a conversation with duke professor cam Harvey. Businesses and consumers are more likely to engage in risk management when the yield curve is inverted, so they take actions before a recession actually happens. And we're seeing this like small layoffs. Here and there, where companies are getting ready for a slowdown. Or basically stuff we don't see that is happening, companies deciding not to make major investments. Delaying until there's more clarity in terms of the business cycle. Just giving that background, what do you think our Federal Reserve could do should do over the next couple of meetings here? So given that this is happening, the deal curve is actually impacting behavior. People are engaging in risk management. It actually reduces the chance that the signal, the inverted yield curve, is actually accurate in forecasting a recession. The major wild card here is the fed. And the fed was late with all of this talk about transitory inflation, and it didn't make any sense to so many people, including me. So they're very late to the game and the major wild card here is whether the fed is going to be late again. And what I mean by that is that they don't see that inflation under control. They've slowed the economy in this continue the rate hikes. You have no reason to
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"Failing to secure the speakership as the house adjourned until Wednesday. McCarthy was unable to get the 218 votes needed to become speaker due to opposition from hardline Republicans. A class action lawsuit is being filed against Southwest Airlines over last month's mass flight cancellations and delays a man filed suit in New Orleans federal court late last week. It accuses the airline of failing to give passengers refunds after they were stranded. Another group of more than 100 migrants made landfall off the Florida keys today immigration attorney Tammy Fox isaco says America's legal immigration system is broken. It's almost shameful that we do not uphold or international refugee obligations and we need to develop a system where we can vet these claims promptly and we can vet them ideally outside the United States. I'm Brian schuch. And I'm Brian courtesy in Hong Kong. Let's check this hour's top business stories and the markets. China is pausing investments in its chip industry. Sources say the costs are straining budgets as COVID spending adds up. Top officials are said to be discussing ways to move away from subsidies. Chinese regulators have approved a plan by Jack Ma's ant group to raise one and a half $1 billion for its consumer unit. It's a sign of progress in the government's overhaul of ant. The company will control half of its own shares after the deal, while a unit owned by the city of Hangzhou will own 10%. And it will become the second biggest shareholder. Alibaba shares are up more than 8%. U.S. treasuries are off to the strongest start of a year since 2001, investors are betting that the fed will slow the pace of hiking interest rates. That's as inflation slows down and as concerns mount of a slowdown in the economy this year. Former New York fed president Bill Dudley doesn't see a deep recession coming, but that the fed could ease if needed. Earlier, my colleague Paul Allen and I asked Steve major global head of fixed income research at HSBC, what he made of Dudley's comments. Here you're talking about one of the guys in the Vanguard of the hawkish view. He was early on the hawkish view. He picked up on how the fed was going to hike. Don't forget the hikes have been three to four times what the fed itself was predicting this time one year ago. So now to be looking across the other side as the hawks, that's telling you something. But it's also trying to be a bit too cute because in a way we know the economy response with a lag. So the hikes that happened a year ago are coming through now. So people feel it in their pockets now. They feel it in their mortgages. They feel it with their job prospects or not as the case might be in a recession. So by the time they get to 5% or higher, it comes down like a sledgehammer. It's a bit predictable. Maybe it's going to be something in between. I mean, the idea that you go to 5 and then at some stage and a year, so you have to go back down to zero. That seems a bit too binary. It's possible that they try and hold that 5% level for a while. Steve major, their global head of fixed income research at HSBC. The bank of Japan announced a fourth day of unscheduled bond buying operations as it tries once again to convince markets it's committed to easy monetary policy. Dollar yen won 30 81. And an EK is trading down one and a quarter percent in the market action today. That's the one big benchmark that slower. The hanging index up 2.3%, the cost be in Seoul, up 1.4%. Global news, 24 hours a day live and on Bloomberg quick take brought to you by 2700 journalists and analysts in a 120 countries. In Hong Kong, I'm Brian Curtis. This is Bloomberg. Bloomberg radio on demand and in your podcast feed. On the latest edition of the tape podcast, a conversation with Phil Orlando, chief equity strategist at Federated Hermes. Though I start with saying 23 can't be any worse, I gotta go in there and take some risk here. How are you positioning your clients for 23? Well, we think we think the Bond side of our shop and the cash side of our shop is a much better shape than the equity market side. So we remain underweight stocks with very much a defensive bias because we think there's still a couple more shoes that need to fall. And we're starting with this earnings season that is going to kick off in a couple of weeks. Going into around the middle of the year, fourth quarter earnings for supposed to be up about 10% year on year. Last week, the expectation for fourth quarter earnings is now a decline of about two to 3%. That's a pretty big swing in the space of a quarter or two. And so when companies report those earnings starting in the third week in January or so, we think managements are going to be very cautious about their full year guidance because of the glide path into recession that the economy is on inflation is still a problem. The fed is still hiking interest rates, profit margins are slimmer. None of that in our view is fully in the market. So the equity market in our view is on its way to retracing that mid October low that we saw in the S&P that was around 3500. We're still a couple of hundred points above that. So we think there's still some more risk in the market looking out
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"Brian schuch. From Bloomberg world headquarters in New York, I'm Doug prisoner, the stock market plunged today after fed chair Jay Powell suggested the fed is likely to keep raising rates and leave them elevated for a while as it fights inflation. The historical record cautions strongly against prematurely loosening policy. Committee participants most recent individual projections from the June SEP showed the median federal funds rate running slightly below 4% through the end of 2023. Powell also pushed back against any idea that the fed would soon reverse course. Even with Powell's hawkish remarks and the subsequent route in equities, financial conditions are mildly restrictive. Here's Bloomberg great strategist Ira Jersey. So the fed has to do the job of actually tightening financial conditions because the market isn't doing it for them. And what that means is that the Federal Reserve will have to probably hike a little bit more. I tend to be a little bit more in the four to four and a half percent camp for where we're going to see the terminal rate. Former US Treasury secretary Larry summers noted a shift in Powell's language, saying the remarks were concise. It was clear despite some earlier confused talk about neutral that he was under no illusion that monetary policy was in an appropriate place right now. It was clear that whatever the academic arguments about demand shocks versus supply shocks said, the fed couldn't accept continuing high inflation and had to act until it was clear that that was going away. Now the fed's position on restrictive policy does raise the odds of recession, so not surprisingly, the equity market plunged today. We had the Dow industrial average down 3%, the S&P 500 tumbled 3.4% the NASDAQ composite dropped nearly 4%. Global news 24 hours a day on air and on Bloomberg quicktake, powered by more than 2700 journalists and analysts and more than 120 countries. This is Bloomberg. You're listening to Bloomberg business of sports from Bloomberg radio. Thanks for joining us on the Bloomberg business of sports show. We explore the big money issues in the world of sports on Michael Barnes. I'm scarlet fu. And I'm Damien senior sour. Do you have any memories scarlet of the U.S. open? Yeah, I think back to 2018 when Naomi Osaka came out and just mesmerized everyone with her play. And when she beat Serena Williams, who was her childhood idol in straight sets, it was unfortunate how things played out, right? Because Serena Williams was penalized the game. She argued with the umpire. She reportedly called him a thief. There was all kinds of booing and so when Naomi Osaka won, it was a bittersweet victory for her because people were pointing the finger at her for causing all this tension and causing all these problems when shit played a great game
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"Heavyweight boxing champion Tyson Fury isn't retiring after all. Sky Sports reports fury informed his promoters he wouldn't be retiring or vacating his WBC world title and intends to continue with his boxing career. The champion took to social media to announce he would be walking away from the sport for good just last week. I'm Brian schuch. From Bloomberg world headquarters in New York, I'm Doug prisoner. The equity market sold off today after fed chair Jay Powell bluntly said the fed is likely to keep raising rates and then leaving them elevated for a while as it fights inflation. He also pushed back against any idea that the fed would soon reverse course. Powell expects the economy to slow as the fed works to bring prices down. Reducing inflation is likely to require a sustained period of below trend growth. Moreover, there will very likely be some softening of labor market conditions. While higher interest rates slower growth and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. That begs the question, how soft could labor market conditions become? Tiffany wilding is an economist at pimco. Getting the unemployment rate, you know, back up to some level that we think is more consistent with neutral or where wage inflation is not accelerating. That could be as much as 5% at this point. Of course, the unemployment rate now is three and a half. So getting it up to 5% would be net declines in payroll gains in a month over month basis on average in 2023. Ultimately, the fed's policy raises the odds of recession and for that reason, the equity market plunged, down industrial average down 3%, the S&P 500 lost 3.4% and the NASDAQ composite dropped nearly 4%. In terms of economic news, the fed's preferred measure of inflation, this is the PCE deflator. It was down in July by a tenth of 1% compared to June. That's the first negative print since the beginning of the pandemic. U.S. consumer spending posted a sluggish increase in July separately U.S. consumer sentiment rose more than expected in August as inflation expectations eased for the year ahead. 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. This is Bloomberg. Bloomberg wealth is brought to you by Meryl, a Bank of America company, visit Bank of America dot com slash marrow advice. Merrill Lynch pierce fenner and Smith incorporated registered broker dealer, registered investment adviser, member SIPC, a wholly owned subsidiary of Bank of America corp
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"To President Biden's desk. The pact act passed Tuesday evening 86 to 11 with the potential to expand benefits from the Department of Veterans Affairs to almost 4 million veterans. The bill looks to add extra care for vets who suffered illnesses due to exposure to toxins. President Biden respects House speaker Nancy Pelosi's decision to visit Taiwan. The speaker has the right to visit Taiwan. And a Speaker of the House is visited Taiwan before without incident. As have many members of Congress over the years, including this year. So said National Security Council spokesman John Kirby, The White House was reportedly concerned about the trip due to the prospect it may ratchet up tensions with China. The father of a 6 year old boy killed in the sandy hook school shooting broke down crying on the stand today, describing how he felt when conspiracy theorist Alex Jones called the massacre a hoax. I'm Brian schuch. And I Brian Curtis in Hong Kong, let's check this hour's top business stories and the markets. China has reacted to House speaker Nancy Pelosi's visit to Taiwan. China halted natural sand exports to the island and also some fish and fruit from Taiwan. We'll have more on this in a moment. In other news, several fed officials say they want proof showing inflation is on a sustainable downward path. That's before declaring victory in their fight against it. San Francisco fed president Mary Daly said the fed is a long way to go. The head of the Cleveland fed Loretta mester told The Washington Post, she wants to see compelling evidence of moderation in price increases. We don't talk about recession per se. It's are we growing below or above trend. And, you know, my forecast for this year is that we'll be growing below trend, but that's necessary in order to get price increases, inflation under control. Mister said the fed is committed to lowering inflation because it is a foundational piece of a healthy economy. We had earnings after the bill that mostly disappointed investors, AMD's revenue outlook for the current quarter disappointed sending shares down about 6% in late trading. Starbucks quarterly comp sales underperformed weighed down by misses in China and in other regions outside the United States. PayPal, though, soared in post market trading after announced a new $15 billion share buyback program. It also has a new CFO and Elliott has invested about $2 billion in the company PayPal soaring 11% in late trading. In markets briefly, the hexing index is up about a half of 1%. The nikkei has advanced about 6 tenths of 1%. The CSI 300 in China is up about two tenths of 1%. Global news 24 hours a day live in a Bloomberg quick take, brought to you by 2700 journalists in a 120 countries. In Hong Kong, this is Bloomberg
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"Vaccines and treatments ahead of the fall It's going to be a mess and Congress really can not abandon the American people It has to step up and act Otherwise he said America will have to face any possible surges in the fall and winter without those supplies I'm Brian schuch This is Bloomberg best on Bloomberg radio I'm Ed Baxter And I'm to these Pellegrini Denise love of tech stocks Well it's been painful lately As those who own them certainly know Yeah and the drop in value for tax really hurt companies like arc investment But just as we were hearing earlier about Mike novogratz keeping the faith in Bitcoin and other cryptocurrencies well some are keeping the faith in tech stocks nonetheless And one of those is Brett winton he's director of research at arc invest management And Bloomberg's critic Gupta and John ehrlichman asked winton what's been going through his mind on days like some we've had lately when tech stocks are tanking Here's what he said about that We keep our perspective in the long term You either believe that this decade is going to be one of technological innovation or you don't You either believe that AI been cost at AI training following in half every 9 months is going to yield massive productivity advances in it where you don't And it's clear that right now the market is not pricing assets based on their fundamentals Asset prices are being whipped around by asset flows between asset classes by allocators And so from our perspective you're getting amazing sale prices in innovation assets And we believe that everybody needs to have a meaningful exposure to innovation in their portfolio that many investors who have benchmark exposures to traditional indices have unintentional innovation shorts.
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"Brian schuch President Biden is defending his administration's response to the growing baby formula shortage in the U.S. This is a process We're working on it very very hard There's nothing more urgent We're working on than that right now And I think we're going to be making some significant progress very shortly Speaking at The White House he said the response must be both cautious and speedy Republicans have accused the Biden administration of being late and slow arguing the problem has been growing for some time Trump era pandemic restrictions on immigrants seeking asylum in the U.S. are still in place for now That's the ruling from a judge hearing the case involving the temporary restraining order against ending title 42 Monday is the first full day on the job for White House press secretary karine Jean Pierre She's making history as the first black and openly LGBTQ woman to serve in the position I'm Brian shook And I'm Charlie pellet At Bloomberg world headquarters another losing week for the U.S. stock market down 6 in a row but today's stocks rallied with a little help from fed chair Jay Powell's reassurance the bigger rate increases will be off the table for now even after the hot inflation readings of the past few days Victoria green is chief investment officer at G squared private wealth Today's really one of the first times in a long time we've had a rally that's held and not just kind of as a nice little relief and kind of helped April go from down 8 to 6% to now the week is looking two to 3% and that just makes it a little less worse and a little easier to take some time off this weekend Victoria green of G squared private wealth So an update but a down week Matt melee is chief market strategist at Miller tayback and he says some of this week's declines have to do with the carnage and crypto related stocks People are like oh my gosh I've got a margin call I can't raise enough money selling this cryptocurrency I've got to sell what I can sell And these people the cryptocurrencies don't own all the economy stocks like General Electric or U.S. steel They own Apple and Microsoft and Nvidia and they were just dumping those stocks to meet their margin calls Matt melee of Miller tayback today the NASDAQ 100 index advanced 3.7% amid a rally in giants including Apple Microsoft and Amazon the Russell 2000 was up by 3.1% S&P gained 93 points today up 2.4% the Dow was up 466 up 1.5% NASDAQ up 434 That was a gain of 3.8% 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 Charlie pallet This is Bloomberg.
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"A Secret Service canine is becoming the first dog to receive the distinguished service medal back in 2014 hurricane confronted a man who jumped over The White House fence while then president Obama and his family were watching a movie Hurricane was able to take down the man but sustained injuries that forced him into an early retirement now hurricane along with 6 other dogs are being recognized for their service I'm Brian schuch And I'm Doug prisoner at Bloomberg world headquarters in New York Let's check this hour's top business stories and the markets Chinese shares listed in Hong Kong are having their worst day since the global financial crisis The hang seng is down nearly four and a half percent There are heightened concerns over Beijing's close relationship with Russia and renewed regulatory risk that has sparked this panic selling Meantime crude oil prices are extending losses now in the electronic session with WTI down more than 5 and a half percent We're trading 97 30 here That's after falling nearly 6% in the New York session the market may be worried about demand destruction given new virus related restrictions in China several industrial areas have been impacted Trading in nickel futures will resume on the London metal exchange on Wednesday one week after being suspended due to a historic short squeeze a Chinese tycoon at the center of this crisis was able to reach a deal with his banks to avoid further margin calls Now for financial markets a critical issue this week is whether the jump that we have seen recently in many commodities will lead to a more aggressive fed policymakers may adopt a tighter policy as a way of getting inflation under control markets now seem to be fully pricing in 7 standard quarter point rate hikes this year as a result in the U.S. session We had the entire U.S. yield curve moving higher Right now in the Tokyo session the ten year treasury with the yield of 2.14% We check markets every 15 minutes here on Bloomberg on the Chinese mainland Shanghai composite is down 2.7% and again in Hong Kong the hang seng weaker by 4.4% The nikkei is off a tenth of 1% the cost speed down more than 1% and the ASX 200 weaker by 8 tenths of 1% 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 This is Bloomberg.
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"Dot com This is a special report the Russian invasion of Ukraine President Biden says the U.S. has a vital obligation to defend other NATO countries speaking to House Democrats in Philadelphia Biden said the second the U.S. sends in any sort of American forces to fight in Ukraine It's the start of World War three The Pentagon stopped spokesman says the blood of the ongoing invasion of Ukraine is on the hands of Russian president Putin Mister Putin can stop this war right now by agreeing to a diplomatic solution or at least just stopping the bombing and the death and the destruction that he is causing against the nation that provoked nobody John Kirby called the invasion a war of choice that has provoked a massive humanitarian crisis Europe is giving itself 5 years to end its reliance on Russian oil and gas European Union leaders agreed to draft proposals over the next two months that would eliminate Russian energy imports by 2027 I'm Brian schuch And I'm Charlie pellet At Bloomberg world headquarters Another down week for the U.S. stock market equities extended losses in late day trading as risk sentiment deteriorated after Ukraine's top diplomat said he did not see progress in talks with Russia David Katz's chief investment officer at matrix asset advisers and he says given the selling we've seen you've got to have a long-term perspective We think there's some great buying opportunities being presented There's an enormous likelihood that weak and a month later you're going to feel stupid The stocks will be lower but 9 and 12 months later these will have been great buys and you're likely going to be making a lot of money David Katz of matrix Wall Street is looking ahead to next week's fed meeting Lauren Goodwin is multi asset portfolio strategist at New York Life Insurance I expect that we'll see 25 basis points out of the fed on Wednesday And for the next two meetings after that as well as the fed's tries to get ahead of or really come from behind on this inflation challenge Lauren Goodwin of New York life oil has had a turbulent ride given the Russian crew that has come off the market Doorway Kung is portfolio manager and head of commodities at DWS investment management The big question now is what's the replacement possible for such disruption And it's a disruption limited to just what we see now or could it get more extensive as the conflict continued to go on And the impact of the session continued to grow in the industry Doorway Kung of DWS West Texas enemy accrued end of the week just over $109 a barrel S&P fell 55 points today down 1.3% the Dow was down 230 down 7 tenths NASDAQ down 2.2% 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 Charlie palette This is Bloomberg.
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"A special report the Russian invasion of Ukraine America's Secretary of State is touting world unity and Russian isolation during his travel overseas Antony Blinken went after Russian president Vladimir Putin's claim that the war in Ukraine was succeeding U.S. oil prices are skyrocketing as the conflict rages on on Friday U.S. crude oil rose by 7.4% at $115 and 68 cents a barrel This marks the highest closing level in 14 years Several cities in Ukraine have yet to be hit by the Russian onslaught the city of lviv is one of them but men like terrace in brewski says he's ready for when the time comes He said he's helping families get to Poland before he has to fight Being here I do as much as I can in order to provide some humanitarian assistance He added he's escorting families across the border and quickly returning home waiting for the Russians I'm Brian schuch And I'm Charlie pellet Now Bloomberg world headquarters Stocks fell while the dollar climbed with bonds as concerns that war risks are intensifying roiled global markets Oil topped $115 a barrel The S&P 500 Index was down for the fourth time in 5 days The U.S. economy added jobs at a rapid pace in February a gain of 678,000 the most since last July Tiffany wilding is chief economist at pimco I think what this hero report told you is that the U.S. economy is coming into the new year with a lot of momentum So we got a booming jobs market but not only that we're seeing labor supply improve Pimco's Tiffany wilding Next week we get a key reading on consumer prices against the backdrop of rising energy costs Anastasia amarosa is chief investment strategist at high capital This commodity price pressure that was supposed to abate is not abating and the supply chain disruptions and the bottom legs that were supposed to recede as we venture out of COVID we still have another risk of supply chain disruptions because of what's happening on the ground in Russia and Ukraine Anastasia amoroso of eye capital While the war in Ukraine certainly front and center for investors David Kelly is chief global strategist at JPMorgan asset management He says markets should be extremely skeptical of any ceasefire talk from Vladimir Putin Nobody doubts it at the moment Vladimir Putin is doubling down on he's got a strategy He's going to invade Ukraine He's going to take it over And as an autocrat he can't be seen as second guessing his strategies David Kelly of JPMorgan asset management Stocks lower today with the S&P down 34 down 8 tenths of 1% the Dow down one 80 down 5 tenths NASDAQ down by 1.7% 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 Charlie palette This is Bloomberg This is Bloomberg law with June gross from Bloomberg radio You hired a nanny for a doll What did you find her How much did those boys tell you about what happened The Apple TV series servant has all the suspense Supernatural plots and twists M. Night Shyamalan is known for but there's a twist even the filmmaker didn't seek coming A lawsuit by Francesca gregorini claiming the TV series rips off her 2013 movie the truth about Emanuel And the 9th circuit served up a twist of its own by reviving her lawsuit after a district court had dismissed it Here to help us figure out the plot of the lawsuit that is is intellectual property litigator Terrence Ross a partner cat and rosenman So Terry in what way does Gregory allege that the TV series ripped off her movie Well June both the movie and the television series on their face tell the story of a grieving mother who has lost a baby and forms an attachment to a doll And in both a teenage nanny goes along with the mother and starts caring for this doll as if it were a real baby So there are those superficial similarities which in copyright law We would call simply ideas With respect to more specific allegations of similarities there is in the original complaint filed by miss gregorini allegations that the plot theme and dialog are all similar The problem I think that the district court judge had with this loss suit and why he dismissed it is that there is a certain lack of specificity in that original complaint Gregorini did specify certain things such as both nannies form attachments with naive young women whom they compelled to steal a bottle of wine similar blocking of shots shock reveals But the judge said the alleged similarities pale in comparison to the differences So here's the core problem with the district court judges decision in my opinion It's this focus on differences between the two works That's not the legal standard The 9th circuit and other courts have said we focus on what are the similarities and not what are the differences This is not a balancing test where you put on one side of the similarities but on the other side the difference is that there are more differences than similarities Therefore we're going to dismiss the lawsuit No that's not the way it's done The way it's supposed to be done is you focus just on the similarities and ask yourself are there sufficient similarities that a reasonable juror might find copyright infringement That's not well spelled out in the 9th circuit decision reversing the Discord judge but it is the one thing that jumped off.
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"Council Three hosts who know the markets and the economy Lisa you're not embarrassed I mean Abraham was not embarrassed right Like I carried away Almost as well as they know each other Tom's a little tired He slept on my couch It was just thanks Joe a few as late appreciated Bloomberg surveillance with Tom Keene Jonathan farrow and Lisa Abramovich You think the bank is one higher race Lisa Do you think this guy occasionally is blue We say mornings at 7 eastern on Bloomberg radio and Bloomberg television President Biden says American troops will not fight in Ukraine or rescue Americans who are trapped in the war zone they will however help process the flood of refugees that's expected to cross the border into Poland when hostilities begin It comes after Russian president Vladimir Putin ordered troops into pro Russian controlled provinces of eastern Ukraine NBC News correspondent Erin McLaughlin says Ukrainian president volodymyr zelensky is sending a firm message to his people We are not afraid of anything or anyone we owe nothing to anyone and we will not give anything to anyone and we are sure of that because now is not February 2014 but February 2022 Analysts are predicting the price of gas and oil could skyrocket in the event of a Russian invasion The Federal Reserve is looking into a larger than expected interest rate hike next month Federal Reserve governor Michelle Bowman told a convention of bankers she favors forceful action I'm Brian schuch And I'm Brian Curtis in Los Angeles Let's check this hour to stop business stories and the markets Asian stocks have taken a pounding as tensions rise between Russia and the west over Ukraine Oil prices are up and so are bonds and gold All the major equity benchmarks are lower I'll have details in a moment One of the biggest casualties in the Hong Kong market is united Rousseau It's down about 18% the most since April of 2018 The company gets 25% of its revenue from Russia More sanctions are expected to be applied to Russia And sources say that ant group is in the regulatory crosshairs once again in China Chinese authorities are said to have told the country's biggest state owned enterprises to report all of their exposure to ant more on this from Bloomberg's John Liu They've been told to report back as soon as possible any links that they've found up until January The people we spoke to say this is the most far reaching investigation yet that they've seen It's unclear what the catalyst for this examination is or whether it will indeed result in any sort of legal action Alibaba is trading down nearly 5% in the Hong Kong market Oil is higher as supply from Russia might be threatened by the latest events also Saudi Aramco says that it sees signs that demand is rising especially in Asia Right now WTI is trading at $94 up 3.2% Let's check the markets across the region the nikkei down 2.2% falling 582 points Thanks and index down 760 odd points That's a drop of 3.2% And in China the CSI 300 is down about one and a half percent The yen is stronger dalien one 1461 and the yield on the ten year treasury 1.85% Global news 24 hours a day live and at Bloomberg quick take brought to you by 2700 journalists in a 120 countries In Los Angeles I'm Brian Curtis This is Bloomberg This is Bloomberg law with June gross from Bloomberg radio A case over.
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"For children as young as 6 months The FDA authorized the Pfizer shot for children between 5 and 11 in October and recently authorized a booster dose for those as young as 12 From deep in the heart of Texas to the Great Lakes of massive winter storm is dumping snow and ice across the country energy regulators in Texas are predicting a huge demand on the system and Peter Lake who heads the public utility commission is promising the grid will not fail like it did one year ago We don't anticipate any rowing blockouts at all and we have a multitude of tools to utilize President Biden is planning to make several stops across Asia when he heads there this spring a senior administration official told Reuters Biden will meet with leaders in Australia India and Japan traveling to Tokyo for the quad summit I'm Brian schuch And I'm Brian courtesy in Los Angeles Let's get you caught up on this hour's top business stories and the markets The rally in global stocks has hit a speed bump following disappointing earnings from meta Qualcomm and Spotify Futures on the tech heavy NASDAQ 100 are down about 2.1% Let's take a closer look at meta it traded down 23% in after hours and this is after the company said that user additions had stalled in the fourth quarter Bloomberg's Ed ludlow tells us this is unprecedented I don't think we've ever seen a quarter where Facebook's core user base has not grown I mean it's pretty astonishing You see analysts have been cutting price targets on meta for weeks because of competition around TikTok and video in particular So we knew the competition was coming but it's that stalling and growth zero growth that seems to have the market spooked Facebook parent meta said that revenue for the current quarter would be up to $29 billion that also was short of analyst estimates Spotify dropped about 10% in after hours after its own disappointing earnings data especially on subscribers Earlier investors buying on the dip had sent the NASDAQ 100 up 8% over the past four days On oil OPEC plus agreed to increase output of 400,000 barrels a day for March However members continue to fall short of their targets WTI crude is now trading about $87 and 89 cents that's down four tenths of 1% Let's take a closer look at the latest market action now No trading in Hong Kong or China or Taiwan for the lunar new year holidays the nikkei down 1.1% the cost be up more than 2% in the streets times index in Singapore up 2.1% Global news 24 hours a day live on Bloomberg quick take In Los Angeles I'm Brian Curtis This is Bloomberg This is Bloomberg law with June grosso from Bloomberg radio Some circuit court.
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"Women I'm Brian schuch And I'm Doug Chris at Bloomberg world headquarters in New York Let's check this hour's top business stories on the markets shares in Sony are down by 9% of this hour in Tokyo on news of a major game deal from Microsoft Sony rival Microsoft is spending $69 billion to acquire Activision Blizzard We had chairs and Microsoft down 2.4% in the U.S. session however Activision Blizzard rally 26% Now Microsoft is paying $95 per share that is roughly 45% above Activision blizzards closing price before that announcement and obviously this is going to escalate Microsoft's move to secure intellectual property assets for its Xbox game pass service During the U.S. session Goldman Sachs reported a shortfall in fourth quarter trading revenue Goldman also reported record high annual expenses and that was fueled by soaring compensation and benefit cost we had shares in Goldman down 7% in the U.S. session The latest Chinese mobile phone shipment data is pointing to weaker demand for apple's iPhone data from the China academy for information and communications technology show The smartphone market saw healthy growth in December in the broader market however results for iPhones lagged and Evercore ISI was saying this suggests a notable deceleration in demand for iPhones Crude oil surging at its highest level in 8 years WTI 86 75 in the electronic session We have energy stocks in many Asian markets trading higher However most markets are trading weak generally speaking with in Japan the nikkei down 1.8% in sold at Cosby off a half of 1% on the Chinese mainland Shanghai composite lower by two tenths of 1% and in Sydney the ASX 200 down 6 tenths of 1% On the positive side the hang sang up four tenths of 1% Global news 24 hours a day on air and on Bloomberg quicktake This is Bloomberg This is Bloomberg law A divided Supreme Court rejects a religious challenge Tell us a little about the facts of the case Interviews with prominent attorneys in Bloomberg legal experts My guest is former federal prosecutor Jimmy Carole joining me as Bloomberg law reporter Jordan Rubin And analysis of important legal issues cases in headlines The Supreme Court takes on state secrets multiple lawsuits were filed against the emergency rule with this lawsuit for real Bloomberg law with June Grasso Bloomberg radio Welcome to the Bloomberg law show I'm June Grasso ahead in this hour Preying on the 50 yard line The Supreme Court takes a case that promises to be a flashpoint on the role of prayer in public life And the Supreme Court's blocking of Biden's vaccine mandate signals trouble for the EPA's efforts to address climate change The Supreme.
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"Is Bloomberg radio Now a global news update the family of Martin Luther King Jr. is pushing for this Senate to pass voting rights legislation To all of those who are here to honor my grandfather's 93rd year the only way we know how through action MLK's granddaughter Yolanda Renee king said her grandfather's passion for equality has been passed down to her The rabbi of the Dallas area synagogue says throwing a chair at the hostage taker helped him escape with two others They were held for ten hours during the standoff on Saturday All hostages managed to escape the British hostage taker identified as Malik akram was killed Scientists are reporting a genetic risk factor for loss of smell after a COVID infection as many as 1.6 million people in the U.S. still have a change in their ability to smell 6 months after contracting COVID 23andMe researchers conducted the study as part of a larger COVID project I'm Brian schuch I'm Barry riddle so you're listening to masters and business on Bloomberg radio My extra special guest this week is ray dalio founder of Bridgewater Let's talk a little bit about the state of the economy today One of the questions I enjoy asking you and I think I've asked several times what macro trend do you think is not getting the attention it deserves The decline in real rates and real returns and the supply and demand of debt and money Okay I think that people think that they look at their amount of money in nominal terms and not in real terms And they look at their wealth and nominal terms not in real terms So when they are holding cash or holding a bond and there's saying that is stable that they are not paying attention to the depreciated value when everybody else in other ways is getting rich around them They're losing the side of that So they look at a nominal terms and they look at it in their currency eyes If the number of dollars I have is greater than it was the day before or the same I feel good That's not enough They're not paying enough attention to that And also the supply and the demand for money and how that affects inflation and so on In other words the calculation that the U.S. government will have to sell a certain number of bonds And then to look at who are the buyers of those bonds who owns how much and what are their motivations And will they buy those bonds And if they don't buy an adequate amount of those bonds so that the Federal Reserve is faced with a choice of interest rates rising and shutting the economy in the markets down Or printing more money what will they do Well they'll print more money And what will that do for the value of money That those perspectives are not well known well understood And yet they're the most important perspectives So let's talk about something that has been pretty significant since the financial crisis which has been the rise of DeFi and cryptocurrencies and blockchain in a lot of ways some people are positioning that new asset class as a response to exactly what your describing centrally controlled money supply and the printing presses running What are your thoughts on on crypto Generally and DeFi Well first of all good idea I mean don't trust the governments No matter which one you're talking about No matter which one it's been such a history Almost always before there's a devaluation There's a promise that I will never devalue I mean there's been experience And so when it comes down to what are you going to do In the end every currency has either been destroyed or devalued And so that's what they do in the middle of when you're in a crisis or do you have a depression That's the choice and they don't want to have the depression so you print the money to make it easy to pay back the day Gotcha That set of circumstances arise And the development of crypto First of all the blockchain technology is revolutionary in many many ways and so that's I think fabulous and then it's really quite amazing that the programming of it and everything has stood the test of time in terms of not being hacked Materially So far so good So far so good And being a store of value Now so all the one but they're a stable coins as opposed to everybody looks at Bitcoin but there are stablecoins that are tied to specific currency Yes but that'll be the problem What about Central Bank but I just wanted to I just want to finish that answer So it's come a long way And it's a new generations alternative to gold I think the new generation is making a severe mistake to think that it should be all Bitcoin kind of thing and not get the balance Maybe just like the index of different Meaning well what are the things that are like money that are going to work like money that you can carry them around in your pocket go from one place to another and that they're recognized all around the world as an alternative currency Gold is one of those things right So it's an alternative gold and so on The diversification properly Central banks won't use it It will not be the same But and it'll be a threat Stablecoin if it's a transactional thing and it remains in the currency so the government can control its currency and deal with that issue We'll be functionally okay but it won't get you around the risks that we're talking about in terms of the basement of the currency So that's why when you're dealing with the other But if it gets you around that it becomes a better currency And when that becomes a better currency it's a threat to the governments Like the currency the ability to print currency and to operate that way is the greatest power almost that a government can have And so something like Bitcoin's success will be dependent on that It also of course has its dynamics because speculative market all that And that dynamic is one thing If I start to look at how much how it's priced the way I look at it is since the supplies not going to change much you can just look at the demand And right now the total value of Bitcoin which is roughly a $1 trillion Let's say is and if you take the total value of.
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"Brian schuch The obviously a wonderful steward of the company's balance sheet but I rely on her heavily as any leader would as we try to look around the corner Part of our job is to make sure what do customers want What are they thinking that they want next year and the next year And that takes investment and that takes thinking ahead of time of where you want to get You could call leni oberg Marriott's chief future officer I always love finance I did figure out that one side worked at a financial services firm that it was a great experience for a few years but that I ultimately wanted to join a team for a more long-term way to try to build a business Oberg joined Marriott as part of its investor relations group in 1999 As is often the case for many people things evolve the company grows opportunities show up and I really was able to build a set of skills and experiences that helped prepare me for the CFO role Not only in corporate level roles but also operational and international She's being chief financial officer since 2016 the year Marriott acquired star with hotels and resorts and became the largest hotel chain in the world Although that scale remains an advantage all the industry's major players are finding it crucial to innovate in the wake of an unprecedented disruption That was the wake-up call for.
Bloomberg Radio New York
"brian schuch" Discussed on Bloomberg Radio New York
"Guilty to driving while drunk in January of last year Lohan had been arrested after hitting another vehicle while intoxicated and then leaving the scene One large New York City bank is telling its workers to dress down for the office so they don't attract attention and become crime victims on their way to work each day known laden has more Bank of America bosses have reportedly told workers that dressing up could make them a target as they head to the bank's offices in midtown David solano who's behind bars and upstate New York for at least 100 muggings says New Yorkers who want to lower their chances of being jumped can do one simple thing Roberts So you want to be around a lot of people even if you don't know them New York City has seen a 15% spike in attacks over the past 28 days when compared to the same time last year Neil Young is releasing a lost album from 1987 The Rock icon posted on his website recently that he's not exactly sure when he recorded the collection of demos called summer songs but it appears to have been around the time he played farm aid in 1987 The recordings include songs that would appear on later Neil Young albums including freedom and harvest moon I'm Brian schuch And I'm Charlie pellet that Bloomberg world headquarters changes to the S&P 500 Index signature bank solar edge technologies and factset research systems will join the S&P 500 Index before trading opens on December 20th This according to S&P Dow Jones indices Another losing week for stocks to in a row a down Friday Wall Street closed out a volatile week with more losses after a mixed reading on the U.S. jobs market Jeff Rosenberg is senior portfolio manager at BlackRock The elephant in the room here is that this report doesn't have any of the COVID any of the omen Kron issues that we still have in front of us So over the next ten days we're going to find out a lot more That's going to drive that debate into the fed meeting on the 15th BlackRock's Jeff Rosenberg so it was a down Friday as for the market outlook from here savita subramanian is head of U.S. equity and quantitative strategy at B of a securities You know I don't want to sound too alarmist and I think you know we're not looking for massive downside big bear market but I do think the probability of a 10% correction in the near term or over the next 12 months is elevated And our market forecast is flat We're not looking for down market returns but over the next 12 months I think it's going to be a tough grind Savita subramanian head of U.S. equity and quantitative strategy at BFA's securities speaking with art Jonathan Ferrell A down week two in a row for the S&P 500 Index this week falling by 1.2% the Dow this week down .9% NASDAQ was down 2.6% Today the S&P tumbled 38 points down 8 tenths the Tao was down two tenths of 1% NASDAQ today down 1.9% Global news 24 hours a day on air and on Bloomberg quick take power by more than 2700 journalists and analysts in more than 120 countries I'm Charlie pellet This is Bloomberg.