>> we are 30 minutes into the u.s. trading day on april 5. here are the top stories we are following. red-hot. the u.s. added more than 300 thousand jobs in march blowing past expectations. they pushed back the odds of the first fed cut and yields spike in response. stocks are trying to shave off a surprise plunge in yesterday's close, but mega cap wobbles have investors asking, what's next? we will discuss. checking in on baltimore come the u.s. army saying the port of baltimore might reopen by the end of may with president biden scheduled to visit the city today. we will get insight from craig

fuller. >> welcome to "bloomberg markets." markets on this friday, the s&p 500 has managed to go green. you look at the big benchmark, 6/10 of a percent higher. even better if you look at big tech. 810 7% of a rally building -- 8/10 of a percent, a rally building. yield curves, up five basis points. they had been up higher, but as we digest the labor market numbers some of that is coming down. the 10 year yield at 4.36%. it is the labor market that won't quit. a blowout jobs number from march and payrolls rising by the most in almost a year while the

unemployment rate dropped. mike mckee rakes it down. where are the jobs coming from? mike: that is an interesting question. it is not where the jobs are coming from, we know that. but where are the workers coming from? 460 9000 people entering the labor force this month in march and 303,000 getting jobs. the unemployment rate falling to 3.8%. the fed has been expecting that to rise to 4.1% for months. it's not happening. is it inflationary? not according to the average hourly earnings, up .3% on a monthly basis. on a year-over-year basis they are down to 4.1%, getting closer to where the fed thinks they will be at a non-inflationary level. one of the answers that some people have come up with for where the workers are coming from is immigration, both documented and undocumented,

native-born, foreign-born workers. a lot of people thinking that it wasn't emigration pointed to a decline in the household hiring over the past couple of months because undocumented workers might not want to speak to government employees. we had a huge swing in the household numbers u[ thisp -- up at this time, so that doesn't look like the answer either. we will be puzzling over this for some time. katie: i am curious when it comes to average hourly earnings. it feels like that came in right on estimates. you had this blowout number and the unemployment rate dropped. mike: average hourly earnings is one measure that the fed looks at p are they primarily care about the employment cost index, which we will get at the end of the month. it suggests that the numbers we got today, that we are seeing a slowdown in what companies are

having to pay to get workers. 4.1% is higher than the 3%, 3.5% that the fed is looking for, but when you also look at the composition of jobs, a lot of construction jobs that pay well, but no manufacturing jobs, perhaps the highest paid of the blue-collar. the composition suggests that there is still. room still room to go down. it suggests that the economy is still really strong, and maybe this keeps up. katie: a great round up, as always. let's turn to the market and what this means for the markets. we will do that with the interactive broker chief strategist who joins me on set. it is great to see you. . we will start off with an easy question why does the fed need to cut at all right now? all ri --

>> i don't think they do. we checked the box on full unemployment. to the point that it's one of the things that threatens the stable prices part of the equation. there is the third leg of the dual mandate which is stability and ease of credit. it's pretty clear that with the amount of money flowing into risk assets and including some of the riskiest risk assets, what is the point of the rate cut other than to just to stay on message and assuage the markets? katie: is the relationship between markets and rate cut expectations that i'm interested in. it seemed like markets were resilient that you had rate cuts priced out and brushing it off. do see that dynamic changing?? steve: it has been changing. we came in with the rate can number them with the great conundrum. we were expecting a south landing. the good economy came along, and

i think that i will be the person who votes for the strong economy over the need for major rate cuts. i think that it's been alright that the market has priced out the rate cuts because the economic numbers have been good and this is the latest in a series of them. katie: in certain areas of the market you have areas behaving as if we are at a zero interest rate policy right now. i think that you know where ongoing. what is going on with the trump media and technology company that went public a couple weeks ago, etc. it has turned into a meme stock. it is very expensive to short. it seems like it when it comes to getting around that, you aren't a big fan? steve: there is no free lunch. if you buy puts it avoids the vagaries of the stock lending market that's very volatile and

you are putting out money every day to maintain your stork. -- your stock. in this case, that is telling you that the market is factoring in the cost of borrowing. if you are buying puts, you are buying them from someone and that person has to deal with it. that is my key rate is in a quick and dirty way. katie: there was a really interesting tweet from bill gross last week. "a genius can have a high iq or invest in the stock market during a bull market. a genius can be an investor with the courage to sell djt options

at a 250 annualized volatility." how brave you have to be to do something like that? steve: you need a high risk tolerance. there is stuff priced and that helps you do it. the market makers are not suicidal. having been one for a long time and lived to tell about it. things get priced accordingly. there is an insane volatility. it deserves it. there is a very small float and not crazy valuation. that is what brings out the shorts. you can try it, but you better be well-capitalized and you better have a giant risk tolerance. katie: you need a strong stomach for that one. let's talk about volatility overall. i've spoken to you when the vix has been superlow. we are currently at 16.5 on the vix. we haven't seen this level for a while. what do you make that we are

starting to see volatility come back at a broad index level right now? steve: number one, that people are getting a more healthy reality check about the risk and lack thereof. one of the things that we saw that seems to be reversing is remember, the options market, although we like to think about it from speculative viewpoints, it is still the best vehicle for hedging, especially for institutions. they didn't want to be buying nvidia at 900 or buying the markets in big ways at all-time highs, but didn't want to miss the performance. now that we have stopped going up every day all the time i think that there's more of a healthy respect for the idea of maybe we need to balance our longs with our shorts from a hedging point of view and speculating point of view. katie: sit tight. we have more to get to. we want to look at what's moving underneath the markets now. we will do that with emily.

we have a bit of m&a news? emily: shockwave medical being acquired by johnson & johnson in a deal valued at $13.1 billion. shockwave creates medical devices that treat heart valve disease. the technology works with calcified led vessels. i am not an expert in this. shockwave, the name makes sense for heart disease company. johnson & johnson will be paying $335,000 a share. that stock was up 2% after the bell but almost 70% year-to-date. there has been speculation about which medical company will be acquiring it. right now, johnson and johnson is the one for that deal. j&j is not really doing much after the opening bell, though. katie: we have some m&a and we have some sale-side action. steve: in phase energy is down

over 5% right now. this is a solar tech and clean energy company that produces ev devices. they downgraded yesterday from citi cutting to neutral. the price target at citi they are trimming from 126 to 121. the analyst said enphase reached its full valuation and the outlook is uncertain in the near term but remains bullish long-term as interest rates come down. we will see when the rates come down. they downgraded plug power, another clean energy company. we are seeing the whole sector when it comes to the cleantech companies moving lower. enphase said there chief commercial officer will be resigning. they announced that yesterday, so that could be putting downward pressure on the stock. katie: what is going on with snowflake? emily: snowflake has been moving around.

it was up 1% after the bell. they had an upgrade from neutral to buy at rosenblatt, but this has been a tough year. the stock is down over 20% year to date. the analyst at rosen plate said that this is a good time to upgrade to buy given how much the stock has fallen. they expect revenue growth to be slower this year but are encouraged that customer interest in the platform looks healthy. this is a cloud software company. it has been a rough year for this company. katie: if you're looking for a wild ride, look at the five-your chart for snowflake. thank you. coming up, treasury secretary janet yellen in china for "unfair treatment" of american and other foreign companies. more on her visit, next. this is bloomberg. ♪

>> the president and i rejected the idea that we should decouple our economy from china's. rather we are seeking a healthy economic relationship. importantly on a level playing field that can benefit both sides. katie: that is u.s. treasury secretary janet yellen speaking in china. beginning the start of her four-day visit by emphasizing the need for economic cooperation between the world's largest economies. here is kailey leinz. stern words from janet yellen?

kailey: this is her second trip to china in nine months and in some ways a reiteration of the message that she has brought to china. she wants to see a level playing field for u.s. businesses operating there. she spoke about this with the american chamber of commerce in china talking about what she described as coercive actions or unfair economic practices, including imposing barriers to access for chinese companies citing a survey that found one third of american companies in china said that they are reporting unfair treatment compared to local competitors. china says that they want to encourage businesses in china. we heard from the vice premier ahead of his meeting with janet yellen saying that china wants to create a favorable environment for businesses and will deliver benefits to both countries and peoples. that is the wider objective of janet yellen strip, trying to normalize relationships between these different levels of government and their

counterparts, including treasury secretary yellen and her counterpart. we have seen this between officials going to china meeting with their counterparts trying to have more regular lines of commit occasion and voice these concerns. the question remains around these visits if anything tangible comes out of them or if this is talking for the sake of talking. katie: that is always the question. what is the goal and what will this achieve? the question we are talking about when it comes to foreign direct investment and the treatment of u.s. and foreign companies, there is an interesting concern that she flagged about industrial overcapacity in china. kailey: that is one of the primary objectives of the trip this time around, focusing on this issue. we know that china is struggling in some sectors, particularly the property sector. they have been investing a lot in manufacturing to offset trying to shore up chinese factories. the result is that china is producing more.

potentially, if you listen to janet yellen, more than the u.s. can tolerate, or any other countries, in terms of supply. they will flood the market and that will make other countries who produce similar goods less competitive as a result. that brings us back to economic competition. she does not want to decouple, as we heard in the clip that you played. they want to compete strategically and cooperate where they can. but keep in mind they're trying to protect u.s. national security interests and economic interests at the same time and overcapacity is where she has real concerns about the u.s.'s ability given what china is doing. katie: our thanks to kailey leinz. let's keep this conversation going. the u.s.-china relationship can be tense, but it is incredibly important. this conversation is happening in the broader context of a lot

of geopolitical tension in this world right now. it seems like markets have not necessarily priced that in looking back over the past couple of years. you think we could see any that change in the months to come? steve: we could, but historically stock traders are awful at pricing and geopolitical risk. it is the last group of people you want to ask about geopolitics. to some extent, as investors we are good at figuring out earnings and revenues, things that affect it directly. geopolitics has a nebulous effect on that. to some extent investors punt on it. learning the lesson of not freaking out in one direction or another. to some extent the geopolitical stuff gets pushed into the background until he gets in our face. katie: in terms of when it could enter the conversation, look at oil right now. brent above $90 a barrel. crude back up to $87 a barrel or

so. that feels like that could matter for equity markets. steve: it can and it showed. equity traders are terrible. oil traders are pretty good at it because their life revolves around geopolitical concerns and things like opec. if i look at the crude oil futures, that is pretty much the textbook double bottom. we are getting back to the $90 level, which proved to be a problem before. the key is, if it breaks through that we could really get moving. one lesson i learned in my career was, when you see oil stocks, energy stocks be the outperformers, get nervous. the reason is that implies that inflationary pressures are coming. oil and gasoline prices are hugely important to consumer expectations for one year inflation considerations. one year inflation expectations

moves more or less on a one to two month lag with gasoline prices at the pump. roll that together and gets back to what we talked about with the fed not wanting to raise rates. these are not immediate concerns, not freak out concerns, but it is blending together and that is the backdrop we are facing. katie: i'm happy that you brought it back to the fed. the fed theoretically doesn't care about oil. it is looking at core, which strips out oil. but you look at the prices at the pump and inflation expectations and the fed has to care in an indirect way. steve: i understand why they focus on core pce deflator. i get it. food and energy are volatile. the problem is, they are focused on inflation expectations and people are very concerned with food and energy because those are two things we spend the most on on regular basis.

there is a bit of a conflict. you can't pretend this isn't a factor. that is why of this moves up, and if china is ramping up its manufacturing, that is another thing that puts a ballast to the price of oil. that is another source of demand. that is where you have to start to wonder, where is the inflationary picture going and have we seen the bulk of the disinflation? not necessarily saying we will see a reignition of inflation, but it puts a lid on the disinflationary factors out there. katie: quickly, you aren't going as far as to say you will see a reignition of inflation, but you think that investors should be hedging that the next move is a hike? steve: it's possible. in general, you mentioned hedging. we have earning season coming in couple of weeks, the seasonality go away. i'm not the biggest believer of seasonality but the rally

literally started november 1. these are the kinds of things you have to think about. it has been a great environment to play offense. you have been wildly rewarded for playing aggressively offensive positions. now, it might be time to switch a little and play a little more defense. katie: it is always great to see you. happy friday. still ahead, the companies making the most social buzz in our social climbers segment next. this is bloomberg. ♪

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katie: it is time for social climbers, the stocks making waves on social media this morning. krispy kreme's deal with mcdonald's. the firm upgrading the doughnut

chain to overweight and raising the price target to $20. the partnership is a "game changer" and sees material growth over three years. the blue chips are back. -- blue checks are back after the controversial decision to charge a fee for confirmation checkmarks. x started returning the blue checks popular users without charge. no official announcement was made about the changes. $.99 only stores throwing in the dishrag. the discount retailer closing all of its 300 plus stores winding down its businesses after four decades. the ceo cited high inflation and increasing theft as reasons for the liquidation. you can follow the latest company buzz on your bloomberg terminal. coming up next, president biden will visit baltimore today to survey recovery efforts after the francis scott key bridge

collapse. we will talkabout the future of the bridge with the freight way ceo next. this is bloomberg. ♪ hey you, with the small business... ...whoa... you've got all kinds of bright ideas, that your customers need to know about. constant contact makes it easy. with everything from managing your social posts, and events, to email and sms marketing. constant contact delivers all the tools you need to help your business grow. get started today at constantcontact.com constant contact. helping the small stand tall.

katie: welcome back to "bloomberg markets." breaking news just now, tremors felt moments ago throughout nyc. buildings shaking as well. we will follow this and bring you any updates, but there were tremors felt throughout the new york city region. we will follow this story. let's turn to president joe biden, and baltimore this afternoon as he surveys damage from the wreckage of the francis scott key bridge. the visit comes one day after the u.s. army says that they

hope to have the port fully reopened by the end of next month. for more, we are joined by craig fuller, freightwaves ceo. freightwaves supplies global supply chain data to the freight industry. let's start with the potential timeline. the u.s. army saying the port of baltimore could be opened by the end of may. when you think of the magnitude of the cleanup, does that seem like a realistic timetable? craig: i think it is an impressive timetable considering concerns of how long this takes. i think there's a lot of motivation among federal officials and state officials and local officials to get this moving. reopening the port is priority number one. you have to remove a lot of debris to allow the channel to open. katie: an impressive timetable. in the meantime, is there the possibility of accessing the port through another water channel or is this the only way in? craig: the primary focus is to

get the water channel open. unfortunately, we have a ship and a bridge that has collapsed in the way. that will be priority number one and that is what they will try to do. they won't be able to remove all of the debris. i think they are trying to open a pathway to allow ships to pass. katie: the port of baltimore is known for vehicle and coal. baltimore is the second largest port for coal exports. northlake is the largest. it should theoretically benefit from this rerouted volume. does norfolk have the capacity to handle all of it? craig: it is an interesting question. 28% of all coal exports out of the united states have gone through baltimore. one of the things that happens to supply chains is that we have a lot of resources to move it. northlake should be able to handle it. one of the nice things is there is some flexibility in the

supply chains in terms of infrastructure. while exports have dropped off over the last decade or so. in the sense of where we are in terms of having the infrastructure, there are other locations and ports able to handle some of that volume. katie: i will ask the same question when it comes to vehicles. this port is a huge gateway for vehicles coming from europe, etc. is there enough storage capacity at other ports to handle those diverted car carrier ships? craig: baltimore was the fifth largest importer of autos, imported autos. jacksonville has excess capacity, savannah can handle some of those. the port of new york and new jersey as well. the east coast ports, as we have seen with the panama canal, have lost some of their volume recently that they gained at the end of covid.

that volume has gone back to the west coast. in doing so, it has freed up some capacity along the east coast. katie: one thing i've been wondering when it comes to rerouting cargo is how much action there is in doing that? is it apples to apples ship coal or cars or whatever else from norfolk or newark instead of baltimore? what does the process entail? craig: the good news about this happening, if you want to take a silver lining, is in a supply chain disruption you see short-term index where everyone panics. supply chain works on consistency and transparency. when you have a disruption it causes some short-term disruptions. the great thing about supply chains isthat that they are meant to be resilient and the heel really quickly. what we have seen and will continue to see is the diversion

of cargo to other ports and other sources of capacity. coal, while it is an export market and coal producers are concerned about having access to capacity, it can be sourced practically anywhere in the world. it is not a situation that will cause massive supply chain shortages. it may hurt local producers short-term and increased costs, but not something we should be overly concerned about. katie: supply chains are built to be resilient and the idea is out there that coming out of the supply dashed out of the pandemic supply chains are more flexible than they may have been otherwise. when you think about disruption the trucking market, what has that metro transport costs? craig: it will increase it not because the bridge itself was a major trucking lane. over the road trucks typically avoid big, congested cities and

this -- when they can, they try to go around them. this was a situation where there wasn't a lot of long haul trucks. the 18 wheelers weren't really taking advantage of the bridge. this does divert all of the other traffic onto the highways where they are more commonly found. it will create some traffic congestion in the area that will slow the movement of cargo through the region, but it isn't going to be a disruption. you won't see a grocery store run out of food. you won't see a supply chain or manufacturing plant run out of goods. these impacts happen every day. they have happened since the beginning of time. freightwaves exists because we talk about these things constantly and this is one more thing that we have to discuss. katie: before i let you go, we have to talk about what is going on in the red sea, the disruptions we are seeing.

it seems rerouting around the cape of good hope hasn't been as much of a headache as feared? craig: the ocean shipping lines were looking for short-term increases in rates on really multi-year lows and had the opportunity to use this impact, the red sea issues, as a tax on their shippers and able to exploit that opportunity to increase spot rates. what shippers have realized is that it hasn't been that disruptive. it may have caused some delays. frates have been rerouted and rates are coming down. the short-term benefit ocean lines got because of increase have dropped. a 30% drop in ocean container rates since march 1. katie: it is great to speak to you and we appreciate your time. our thanks to craig fuller of crate waves -- of freightwaves. u.s. ds says that a magnitude

4.8 earthquake hit new jersey with tremors felt throughout the new york city region. the earthquake was center three miles from lebanon, new jersey and the northwestern part of the state at a depth of about one kilometer. we will bring you the latest details as soon as we get them. the argentinian president telling bloomberg television today that his people will tolerate harsh economic conditions to move past populism. the president spoke to bloomberg's editor and chief about the president's executive offices in buenos aires. pres. milei: i don't see why opening the markets -- what generates inflation is the fact that i have yet to fully cleanse the central bank. that is the point. if i haven't cleaned up the balance sheets of the central bank, it means that i'm not solvent. john: if you got rid of controls there would be a rush to get

dollars. pres. milei: not necessarily. that is not necessarily what is going on, right? in order to do that i first need to clean up the central bank balance sheets. it's important to understand this because when do have the central bank bankrupt and a situation where the monetary liabilities exceed the assets held by the central bank, that is corrected through higher prices to dilute your monetary liabilities. the more bankrupt you are, so to speak, the long-term price level is higher, therefore given today's price level the link between those two prices is implicit inflation rate. as you rebuild the solvency of the central bank, which is what we are doing, consider the money base has remained virtually unchanged since we took office.

still, despite the options and interest and liabilities, what we inherited from the previous government, after having lost almost $12 billion we have sterilized through the purchase as regards the fiscal surplus the money base hasn't changed. so we are cleaning up the balance sheets of the central bank and in so doing the long-term price level shrinks, because we are shrinking the nominal scale in the economy and the slope is reduced and inflation rate comes down. this is why it's so important to clean up the balance sheets of the central bank, to get rid of that pressure. once we achieve that and are able to undertake the financial reform in order for there to no longer be the possibility of inflationary discounting, it

has to move towards a free banking system integrated with the capital markets so that there are no runs and all of the imbalances are cleaned up through prices. in that context, if you also have your public government accounts in order and don't use the central bank to finance deficit, and if you also lift the currency restrictions, -- well, the first thing you need to do is clean of the central bank balance sheets. when you have done that there is the anti-issuing law. one key attribute of which is this will make it a crime against humanity and not time barred if you issue money. it may be when we leave office someone may want to change that. they may do that, but then someone else might come back and lock them up in prison for doing that. john: these might be admirable

reforms, but at the moment if you are an argentine living here at the moment, there is short-term pain in the same way that there was with margaret thatcher and all of the people you admire. i looked at the statistics and they are frightening. the average salary in argentina is at its lowest level since 2003. 57% live in poverty. consumer spending dropped 23% in february. the interesting thing is that your support has stayed high at 50%. do you accept that there is a time limit on how much pain argentines can keep, can take to take these reforms? pres. milei: the first thing is we have seen a cultural change in argentina. and most argentines have understood that the solution isn't populism.

today, wages are miserable. not through our own fault. that is due to 20 years of populism. when you take the average wage of argentines in the 1990's and update it to today's currency, that would be $3000. katie: that was the argentinian president javier milei speaking with bloomberg's editor and chief. let's turn back to these markets and check with abigail doolittle. abigail: it has been a roller coaster. we had losses and then gains. today is up. net we are looking at a loss for the s&p 500, at one point the worst down week for the s&p 500 going back to october of last year. at this point it is the beginning of january. we had this hot jobs report next week we have the cpi.

some investors worry that the fed won't be raising until september. i think that some of the rates markets are pricing that in, the 10 year yield at 4.36. gold is up 4.1%. it could be an inflation hedge or some hedge against the idea that if the fed cuts as much as expected, a bit of a hedge against the potentially dovish action. oil up 4%. if you look at the nasdaq 100, the qqq version, we will see something that we have been watching and a lot of charts, individual charts. the uptrend out of the october lows that has been reversing for a while. this is the third wave of reversal, usually considered to be when a reversal is actually happening. a 50-day moving average for the first time since last october. we are seeing some weakness for big tech. finally, where we are not seeing

weakness is the commodity complex, especially oil. the oil and gas etf year-to-date up 32%. katie: abigail doolittle, thank you so much. navigating markets in an election year. we hear from the hoover institution senior fellow. this is bloomberg. ♪

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chase ink business unlimited card. make more of what's yours. abigail: you are looking at the principal room. coming up the evercore chairman emeritus joins bloomberg at 3:00 p.m. this is bloomberg. katie: it is time for our wall street week daily segment. neil ferguson -- niall ferguson spoke with david westin about political and geopolitical risks in the u.s.. niall: you have to take a

slightly longer term perspective to understand where we are. if you go back may be to the 1990's, yeah. that period seemed low risk. the soviet union had collapsed. apart from trouble in the balkans with the breakup of yugoslavia and some other trouble spots like somalia, the world by the standards of the rest of the 20th century was pretty peaceful. if you go back 50 years, imagine we are in 1974, that was a more dangerous time than now. i speak with some insiders in the midst of writing about that period as i write the second volume of my biography of henry kissinger. we judge the present by the recent past. the recent past was the period

between two cold war's peer the first ended with the soviet collapse. we didn't notice cold war ii beginning but it really began when xi jinping came to power in china. now it is in its second inning and has some ways to go. i don't expect the world to get more peaceful in 2025. david: it's commonplace that the markets don't do a good job of discounting political or geopolitical risk. can we learn from history? you suggest going back further. can we learn how markets and investors reacted to unthinkable developments as they happened and use that to inform our investment decisions today? niall: i think that we know that markets try to adjust for domestic political risk. we know this because there has been great work done in recent years on the way that in an election year, investors have a

tendency to make some allowance for policy uncertainty. the bigger the difference between the candidates in the united states, the more uncertainty. we certainly have a pretty big difference this year, but it is the same difference in 2020 between donald trump and joe biden. it is not true to say that markets are bad at this. we can see in the data that by and large election years see a certain amount of holding back as we wait to see how the policy uncertainty will be resolved. the closer we get to november 5 the more obvious that will become. i think that you are right when it comes to geopolitical risk it is much harder. david: once you spot the issue, which is terribly important, what you do as an investor? if there was a conflict with china, it could shake the very

foundations of the global economy and global financial markets? niall: let's remember that the current ai investment boom mania that we've seen since openai revealed chatgpt assumes that tsmc, the most sophisticated semiconductor manufacturer, will continue to be able to make those things for nvidia and nvidia will ship them to the people doing ai. if a war was fought over taiwan, that would immediately be disrupted. in a case of invasion, there is a high probability that the tsmc would be destroyed either by tsmc or the united states. it is inconceivable that in wartime tsmc would be able to run smoothly, nor is it likely that if china successfully took

over taiwan would be able to run tsmc seamlessly. i think that the economic implications of what would be the taiwan semiconductor crisis would be much larger than the economic implications of the cuban missile crisis in 1962. that was a dangerous moment in cold war i, the closest we came to world war iii. what does cuba export? cigars. some people like cigars but they are less important economically than high-end semiconductors today. this would be a cuban missile crisis with huge geopolitical risks and huge economic risks, even before a shot was fired. the news that there was a taiwan crisis would cause major economic disruption. katie: that was niall ferguson. now tonight on wall street week,

we will hear from ray dalio and larry summers. that is at 6:00 p.m. eastern. ♪ so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch

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katie: an update on the earthquake that hit the new york/new jersey region this hour. the earthquake that had buildings shaking has been downgraded to a magnitude 4.8. governor hochul says authorities are assessing for damage, but there are no reports of major impacts. a quick look at stocks hitting highs right now. we have general electric at a 52-week high after research partners initiated coverage with a buy recommendation. you have pioneer hitting highs after truest raised its price target on the energy stocks.

coming up on bloomberg technology, the levi strauss ceo michelle gass joining caroline hyde and ed ludlow. that does it for bloomberg markets. this is bloomberg. ♪ ♪♪ hello, mia. are you ready to meet your demise? ♪♪ nice shot... shot... taker. who programmed you?! i'll see you tomorrow. the future isn't scary, not investing in it is. 100 innovative companies, one etf. before investing, carefully read and consider fund investment objectives, risks, charges expenses and more in prospectus at invesco.com.

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from the heart of where innovation, money and power collide in silicon valley and beyond. this is bloomberg technology with caroline hyde and ed book though. -- caroline: this is bloomberg technology coming up week it a read on the tech labor market. the jobs report comes in hot.