4 Burst results for "Mister Orlando"
Bloomberg Radio New York
"mister orlando" Discussed on Bloomberg Radio New York
"From Bloomberg world headquarters, I'm Steve rappaport. Target's latest earnings beat Wall Street expectations, but its forecast was not so great. Bloomberg's genus surveillance reports. Target is predicting a slower than expected recovery from a rough 2022. Last year, weakening demand for non-essential hit the retailer's profits and its stock, the subdued outlook echoes the message from Walmart last week showing U.S. retailers remain cautious amid a cloudy economic picture, but similar to Walmart targets cautious outlook followed a strong fourth quarter the retailers key sales metric rose in the quarter, analysts were looking for a decline. Target CEO Brian Cornell says they're planning business cautiously in the near term to ensure the company remains agile and responsive to the current operating environment. Switzerland's banking regulator says Credit Suisse seriously breached risk management obligations in the greensill capital supply chain financing case. Finma ordered the Swiss lender to take remedial measures, including a periodic review of the most important business relationships for counterparty risks. Finma also announced its opening enforcement proceedings against four former Credit Suisse managers. Visa and Mastercard planned to defer the launch of some cryptocurrency products and services. Reuters reports the company's decided to hold off until market conditions and the regulatory environment improve. Elon Musk reclaims the coveted title of the world's richest person, the Tesla CEO's wealth got a big boost from a surge in Tesla stock, Musk started the year with a net worth of $137 billion, becoming the first person to lose $200 billion from their fortune. Those are the company's stories we're following this hour, I'm Steve rappaport, and this is Bloomberg. Global market news changes in an instant. So don't miss a minute. Listen to Bloomberg radio anytime anywhere around the world on the iHeartRadio app. Tune in, the Bloomberg business app and Bloomberg dot com. This is balance of power on Bloomberg television radio. I'm David Westin well, this is the week when they start rolling out that chips and science act, something we talked about a lot as Congress was passing it on a bipartisan basis, I must say. And it's a very exciting potential development in the development and production of semiconductors in this country. To take us through where we are, we welcome down Mitch landrieu. He's President Biden's senior adviser for infrastructure. Mister Orlando is the former mayor, of course, of New Orleans. So mister mayor, thank you so much for being with us really appreciate it. So first of all, it's like the kid in the back of the car. Are we there yet? When is money going to start going out the door? Well, we're getting there. I mean, right now, as we speak. So this is the announcement today from secretary Armando is what's called a notice of funding opportunity. Where they tell folks that funds are actually available to do a certain thing. And there's certain thing in this particular instance. There's something that this country has been waiting on for a long time. Everybody knows that this little chip that we have as part of everything that we do in our life. And most of them are manufactured overseas. And of course, we saw through COVID, the disruption of the supply chain. So the idea here is to bring those manufacturing capabilities back home. Number one, to push up on national security and protect ourselves. Number two to create manufacturing jobs here in America, the president's already created 800,000 of them. And number three to create high paying jobs with products that have made in America by folks that are in America. So this is a really big announcement. It's going to hit all of those different parts. Secretary raimondo rolled it out this morning. Of course, this is part of the president's overarching strategy to bring manufacturing jobs back to the United States of America through investing in infrastructure through investing in climate and of course now through investing in semiconductors and making America stronger, more steady give on national security, a bigger push and to create those hundreds of thousands of high paying manufacturing jobs are going to come from these investments. Mitch my understanding of what's going on here is there's a fair amount of money in the United States government is putting up. But that's not all of it. The idea I think is sort of priming the pump that in fact, if you get the federal investment, you'll get the private. Where are we right now on constructing the factories? Are some of those factors already under construction? When will they start producing chips? There's no question about that. What normally happens in the idea in creating this industrial policy is for the federal government to show up with cash and with money, whether you're building a bridge or whether you're building a railroad or you're building high speed Internet or whether or not you're investing in all the stuff that we needed to manufacture chips. And then the private sector follows in. As a consequence of all of the investments that the president has made, you've seen now hundreds of billions of dollars for the private sector starting to show up in all of those different places. The same thing is going to happen with semiconductors as well. And as this money goes out, so we're going to put these notices of funding opportunities out there. Folks are going to come to us to say, listen, we think that you ought to work with us. They're going to be four or 5, 6, 7 of what they call these fabrication facilities across America that are really thoughtful and located. And then the private sector is going to come in on top of that. So this $50 billion that the Department of Commerce is talking about now is going to turn into substantially more when the private sector lays on top of that. And then of course, if we get our national security in place, we got a manufacturing in place, everything is just going to flow from there. My experience at least is when you ask for money, particularly a lot of money from something there's usually some strings attached. There's some strings attached here. Take us through some of those strings if you would, particularly starting with investment in China. Well, listen, we don't really look at it as strange. I mean, this is part of a much larger policy to make sure that we bring stuff back home to America to help our national
Bloomberg Radio New York
"mister orlando" Discussed on Bloomberg Radio New York
"We've got a double weight in cash right now in camp had all year. We've got a 6% allocation in cash. That's the highest allocation we've had in cash in the 20 years I've been et cetera. Wow. Okay, that's a really important statement, folks. And I really want to emphasize folks by perspective to go to 6% is a huge deal. It's not like you saying I got to be 80% in cash as a trader or that. What signal will allow you to deploy cash to equities? Is it just simply the market rolling over in a new sense of bear? So from a stock market perspective, we think that there is more weakness coming over the course of the next quarter or so. We think the S&P 500 could be down around the 3500 level. But we want to see inflation peak and start to roll. We want to see this difficult second quarter earnings season behind us. We want to see the fed downshift from 75 to 50s. We think all of that is going to take place somewhere in that late August to early October time frame. So I've sort of got that period circled to my calendar, hoping to see some positive signposts. Sure, Lana, thank you so much. And next time you use a floaties at the park down in Texas. Mister Orlando is with Federated. That was just brilliant folks frying out one view in about a moderate use of cash as well. Paul, why mister Orlando was talking about equities, Alan ruskin, of Deutsche Bank, puts out a stunning note. I'm going to call it a midyear review. I don't know if that's true or not. And within it is his call and I'm going to say the Deutsche Bank call which focus land up is talked about looking out not a week, but looking out two years or three years to stunning. Dollar weakness. I mean, they just say at some point, somehow this ends and for example, Euro, one O four, one of 5 is their low, the autumn of this year, and by 2025, the Euro explodes to a one 35. That's a huge that's a huge, huge, three year moves. I guess, you know, as Thomas, we talk about it. We've had strategists and currency strategies here, you know, really over the last several years. And you kind of just start the conversation is give me a bare case for the dollar. And boy, it is tough to find one, but now, you know, it's interesting now we've got this rates rising here, but the rising across the world, but that would be an interesting, interesting move. I mean, it really challenging move for the global economy. And for companies, these global companies out there. Paul, you've lived this. I'm going to suggest that most of your work on the street was domestic, but the international call am I right is essentially a dollar call? It is. I think it has been as you listen to and read the research from the folks like Gina Martin Adams and Bloomberg intelligence. That's been a big key part of her call for years here. And the dollar has been, it's been stout. And the question is here, if you look at that Deutsche Bank note. And I noted reversal. And to Matt, was Eddie Ellen ruskin says, quote, economy likely decelerates sharply. These are stunning midyear notes. Thank you, Ellen, ruskin for that from Deutsche Bank, as well. Thank you, fill Orlando. That was brilliant. With our news in New York City, miss Michael
Bloomberg Radio New York
"mister orlando" Discussed on Bloomberg Radio New York
"To make some tough decisions When the Sherman there the deputy Secretary of State on Fox over the weekend from New York City this morning good morning futures up 9 cents of 1% on the S&P let's call it 8 now on the NASDAQ 100 up a half of 1% This move this morning face a bit in the treasury market too up 8 basis points to 2.07% Crude back down to one O three and threatening to take a look at one O two one O three and 5 cents We're negative there almost 6 percentage points this morning This just in some from John stoffers over at Oppenheimer quote right on Tom with the thought that it's too soon in the year to call the ball game in terms of how things will unfold this year TK you and him are on the same page Well John does a cute work This is OpCo op and I'm in company the great company of Myron pico who really helped me early on And John does very careful work based on fundamentals in the fundamentals of the resiliency of the American economy to be honest across the Atlantic from this ugliness in Ukraine but also we really don't know what's going to happen on a geopolitical from a geopolitical standpoint John uncertainty is a man's both ways right now The visibility for 22 I think it's fair to say some exceptionally I'm the visibility for April Help me Get me to the end of the week Tom That's a difficulty we've got John a very important headline Germany creating task force to ensure Russia sanctions work That's exactly what I was talking about earlier The embedding of sanctions this week is a critical thing Do you think they've done on the sanctions Tom Are the more particularly in Europe When you're doing missile attacks X kilometers from Poland No I don't think there's 15 kilometers Tom 15 kilometers We'll have to see Let's do this because of time Philip Orlando with us She says chief equity market strategist Federated Hermes doesn't give perspective to the decades of experience Phil I absolutely love love love buried in your note January February maple There's something about the window of getting out of winter the maple of fellow Lando that's important Can you be optimistic on April American spending given the slowdown we saw in February So we had a terrific January There's no question about that as consumers went out and redeemed all their gift cards February tends to be a shoulder month People sort of rightsize their budgets and hunker down and you've got the impact of inflation and energy costs in the war in Russia and all of that But as we get into March and April we're hoping that as the spring swallows return to capistrano people start to spend money again So we'll have to see Obviously there's a giant wild card out there and that's Russia But we're optimistic John we had a jargon alert there with mister Orlando He said rightsize your budget what that means is pay taxes just in case anybody really wanted to know what that phrase Man Phil and the equity markets when you talk to the great people at Federated and what you people do in blue chips How do you approach a stock market here in crisis So we were bracing for a lot of volatility this year because of the spike in inflation because of what we felt was going to be a dramatic hawkish turn in fed policy The wildcard we did not expect a Russian invasion of Ukraine that complicates the situation We are overweight stocks still but with that overweight dedicated to domestic large and small cap value stocks and international stocks that are cheaper have lower betas have higher dividend yields We are underweight the growth in technology names Phil you're still overweight in an international level Is that Europe Are you still overweight in Europe We are still overweight in Europe and we think that Europe has significantly discounted a lot of the risks and the problems that are there Now your follow-up question is well there's still a lot of uncertainty in terms of energy security And that's absolutely right But to a significant degree we think the market has priced a lot of that in and we're trying to take a longer term view We're trying to say all right a year from now we think this Russia situation will be resolved behind us We'll have a better sense of what's going on with the Federal Reserve We think inflation will have peaked by the middle of this year and start a long slide back to normalization that may take you know two years or so But as we're looking out over the course of the year purchasing Europe on an oversold spike down here is in a bad trade for us Again with a longer term viewpoint Phil my follow-up quest was actually are you buying the banks right now considering how far they've been beaten up over in Europe Are European team actually likes the banks They recognize the risks but there are some pretty good values there They're always in the field There's always value in European banks and why isn't this a value trap Well it certainly could be because of the uncertainty of what's going on with the Russia Ukraine situation The way we're looking at Putin is that we're looking at a wounded cornered animal here that the things when all of this is done he can stroll into the United Nations and make a speech or join a G 20 meeting or give a talk at Davos and I don't think he understands what a pariah he's turned his country into and what the global economic ripples are associated with that And we don't know if this ends peacefully tomorrow Or if we end up with a nuclear Holocaust next week and that uncertainty creates pause for all of us It's a wide range of outcomes That's for sure Phil good to catch up buddy As always Phil Orlando a Federated Tom how many times have we heard people over the last decade say there is value in European banks You lost count I've lost count as well David heroes doing accounting for us with the challenges He's had the BNP Perry by in Credit Suisse John you know I'm going to go back to growth I mentioned this last week Somebody said why are you mentioned the arch liberal Joe stiglitz of Columbia with growth stiglitz did phenomenal work on the small G in economics the gross rate over the years and the gross rate dynamics in Europe John are starkly different from the United States I mentioned a couple of times this morning that we were set to hear from president zelensky Tom I'm just getting some reporting from CNN president zelensky as informed the Council of Europe that he is now unable to address them given urgent matters in Ukraine The Ukrainian prime minister will address the council instead later today So that's come and get a CNN on Ukraine Understandably so we hear from the foreign minister still Perhaps in about 5 minutes That's the understanding and perhaps we get some sense He's going to be holding a press conference of any possible developments when it comes to some of those negotiations There was a more optimistic tone out of the Ukrainians over the weekend on negotiations which possibly is why something there is somewhat of a risk on feeling certain areas Hope a little bit To be clear these are scheduled times This is a country a government fighting a war And these times are going to move around They're going to move around a lot in the coming days I'm sure Future is up 6 tenths of 1% on the S&P on.
Bloomberg Radio New York
"mister orlando" Discussed on Bloomberg Radio New York
"You so much for that update Charlie pellet This is Bloomberg Okay do you know who this is No Okay so I have to say in the early days of TV not early early but the second iteration We used to play a lot of music in between our breaks and we were getting ready for a 5 a.m. show And one of our producers love rush Indeed So I would play it all the time New world man Right Who would have thought that phrase could ever apply to Donald Trump But here you go Here you go You know he creates this new media company It's gonna set up the social media More and he decides to make a deal with a special purpose acquisition company AKA a stat a spec Oh I'll get it out I was thinking more about sort of how you might describe the result of that deal which is the headline of my chart says Trump's mean world I mean it isn't just digital world acquisition which is the blank check company that's actually making Also known as dwac The whack Because that's the ticker It's back Yeah exactly Or might be a spec You had this software company called footwear which actually did some work on the Trump reelection campaign last year And if you look at the last two days of last week actually had a bigger gain and at one point at least then digital world did And we were talking almost 2200% And then as it happens there's a gentleman named Patrick Orlando that runs digital world He's also the CEO of two other specs And so we've seen them especially one of the sare capital take off starting on Friday And then the other one is based out of China We wrote about it International also up a bit on Friday and there's one more makia capital where he serves as a director Not CEO but nonetheless you even saw a bit of a gain in that stock on Friday So you know why settle for one mean stock when you can have 5 So that's Donald Trump's meme world in a nutshell And if you want to see this performance for yourself folks and get the names of those companies send me an email I'll get it I'll get everything to you along with what I do going forward And the email address for that is de Wilson at Bloomberg .NET That's Dee Wilson at Bloomberg dot net Right So the dude behind all of these that's the commonality right Exactly Mister Orlando who we talked about on air as we are learning more about him and the work that he has done Right so presumably the Reddit traders or whoever or kind of looking at this and say well okay if this one's back is doing this what about his other spacs And hence you have these moves Isn't to ac when you like walk into the door Tuck Well last week Thursday closed up a 356% Friday up a 107% today down about 8% Yeah but There you go These things are volatile no question And looking across the group footwear was actually down in 18 and a half Look at that wack chart I mean it's just crazy It's like straight line it's like a LEGO You can make this out of Legos It's just a straight line forever or several months and then all of a sudden it's a straight curve up and then a little bit of tailing off right Like you can do this I got an even wackier chart for you What do you got It's my stock of the day What is it Tim you actually mentioned it a few moments ago before we came on air Backed holdings Wow Take her VKT This a cryptocurrency Whoops You okay Cryptocurrency outfit that was taken public by the Intercontinental Exchange whom you know was the owner of the New York Stock Exchange And it was a spec deal Do you guys want a breather Do you understand Okay good It's back deal made in January And what wasn't completed until a week ago and actually back shares fell the first four days after the deal happened rose on Friday Today well they got a couple of things going on They partnered with the financial company Fiserv and on top of that they have a deal with Mastercard You put that all together and the shares have just taken off At the moment back holdings BA KKT hence the two K's in the ticker symbol Up a 171% Wow This is a stock I saw moving significantly I clicked into it and the Bloomberg terminal shares had been halted news pending that news after these agreements It's another chart You can build with Legos I'm just saying Straight line straight up Wow It's a new world Why are you at 73% Look at it It's crazy Yeah It was below ten bucks for such a long time All right Dave Wilson go get some water All right Yeah I just wild to see moves like this It is Yeah All right so it is And it's interesting when you pull up a chart And like I said it's like a backwards L this company brought back holdings and same thing for when you look at dwac digital world acquisition corporation and how all of a sudden I know it's funny Hold on you know it's true Like walk into a door you're like Explain this because we were kind of scratching our heads when this crossed earlier And we were all trying to make sense out of it All right we're going to continue to follow it count you down to the close Right now let's make some sense out of world of national news Nancy lions in DCA dance Hey Carol President Biden is working behind.