it is not just u.s. sanctions, but u.s. leadership with our traditional partners in the global community. we have provided humanitarian assistance for those impacted by this tragedy, including displaced individuals and refugees. we have provided that humanitarian aid and will continue to provide that humanitarian assistance. it is helping to accumulate evidence to pursue war crimes against perpetrators of these atrocities, and we are involved in that come as we should become a with the international community. and we will continue to do exactly that. and we will provide the necessary equipment for ukrainians to defend themselves. the priority now is for the air defense systems, because we know russia is using the air to attack the ukrainian people. it will also be antitank, because they are still using tanks in ukraine itself. it will be conventional weapons and ammunition. all of that costs money and all of that needs to be funded so, the president made his request thursday, yesterday, with the amount you referred to, $20

. >> u.s. president biden is optimistic that lawmakers on both sides of the aisle will reach an agreement on new gun restrictions. his comments come one day after he traveled to uvalde with the first lady and spent more than three hours meeting with the grieving families. mr. biden says he is limited in the steps that he can take alone, but is hopeful that congress will finally take action. >> the second amendment is never absolute. you couldn't buy a cannon. i think things have gotten so bad that everybody will be more rational about it. >> and mitch mcconnell and john cornyn says bipartisan talks on gun reform will continue this week. >>> in the coming hours, u.s. president biden plans to discuss soaring inflation with federal reserve chairman jerome powell. the meeting comes as the u.s. battles its highest rates of rising prices in decades. the federal reserve is under pressure to combat inflation and calm down the economy without of course pushing the country into a recession. in an op-ed,

. >> well, the u.s. economy comes in with a lot of momentum but i think everywhere agrees inflation is too high. this is hurting american households. it's hurting american businesses. and it really is something that the fed is committed to getting back under control, bringing it back down to our 2% price stability target and giving some relief to people but also allowing the economy to get back on a sustainable long run path main thing the federal reserve does the policy for now you are going to turn off the spigot in layman's terms which means interest rate increase and everybody is wondering what that looks like coming up and what effect that has. >> sure, absolutely. you are right. we had emergency actions out during the worst of the pandemic. that was moving interest rates close to zero. as the economy has demonstrated they can function on its own, the momentum is there and inflation is high. we are taking away that emergency accommodation, putting interest rates back up to sort of a place in the wor

that u.s. canada electricity relationship bolstering canadians and americans work together to address securityca risk and follow-up mandatory north american electricity standards getting companies provide mutual assistance crossing the border to help american companies restore power to customers more quickly in the aftermath of major weather disasters. in conclusion, candidate is a reliable and trusted electricity partner. this partnership is served canadian and americans for over 100 years. in the context of climate change and growing cyber and physical threats to the grid the u.s. comic candidate relationship is more important than ever. thankfo you. thank you, mr. chairman, thank you two ranking member for the opportunity to speak withst the committee of the interconnected double threat to the national security into both of our nations to our security and climate change. i appeared here to share candidates perspective on this but their neighbor closest ally in our largest trading partners my

u.s. trade representative, katherine tai, testified at the biden administration's trade policies with russia and china. the senate finance committee hearing is a little over two and a half hours. >> committee will come to order. today, we are focused on russia and china because those are the big national security and economic developments in our world. there are governments, russia and china, are united and putting a barriers to american values in our products. since putin launched his invasion of ukraine, the united states and our allies have hit russia, putin and the oligarchs with the most powerful sanctions in history. it's not just about inking away super yachts and private jets. putin is now the head of a pariah state. the senate and my colleagues and -- the ranking member are working very hard to formerly designate rushes as a pariah stable revoking permanent normal trade relations. our country is showing russia that taking this abusive totalitarian road is a bad bet. the united sta

the u.s. and our allies have hit russia, putin and the oligarchs with the most powerful sanctions in history. it's not just about yanking away super-yachts and private jets. putin is now the head of a pariah state. the senate and my colleague, senator crapo and i, are working hard to designate russia as a pariah state by revoking its permanent normal trade relations status. our country is showing russia that taking this abusive totalitarian road is a bad bet. the u.s. and our allies must prove the same to china. china's government is a human-rights abusing, jobs- and tech-stealing behemoth at the head of an economic superpower. one of my top concerns about the chinese government's economic model is censorship. when the internet took off, american innovators were first out of the gate with big ideas. the chinese government responded by using its great firewall to block those companies, and allowing chinese firms to rip off their ideas instead of -- ideas. even worse, chinese tech comes with chi

u.s. president joe biden moves on to japan after wrapping up his visit to south korea. we're live in tokyo with the latest. >>> and russia's war leaves its neighbors in ruins. bringing you the latest from ukraine. and i'll speak to one ukrainian parliament of rebuilding the infrastructure. >>> and the much needed baby formula is on its way to the united states. we'll have a live report from where it was shipped. this is cnn. >>> live from cnn center, this is "cnn newsroom." with kim brunhuber. >>> u.s. president joe biden has arrived in japan after a three-day visit to south korea. air force one landed at the air base near tokyo, an hour ago to visit biden's first trip to asia as commander in chief. before leaving seoul, biden met the leader of hyundai. where he's tried to put focus on bolstering's america's security ties. the shadow of potential conflict is never far away. on saturday, the u.s. announced plans to expand military drills in response to north korea's nuclear threat. and how

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

if u.s. yields were to continue much higher, we would see dollar-yen hitting past 130 and further higher but it looks increasingly likely that perhaps we are starting to release a top in terms of where u.s. 10 year yields will go. from here, i see 127 to probably 130 range in the coming months. haidi: stay with us. we will be back with you to talk about china. in the meantime, we have lines out from rafael bostic. coming from an interview with marketplace he had he says the idea of a september pause is not tied to any idea of a looming market rescue but there could be a significant reduction in inflation this year. a pause in september may make sense because the markets have reacted much more strongly than anticipated, giving some credibility to the idea that perhaps the economy will also respond to the feds rate hikes more sensitively than had previously been anticipated. he is pushing back against this idea that this should be construed in any way as a fed put or a belief that the fed will

of of u.s. engagement in the international order of the indo pacific, we want the united states to be engaged from the economic perspective as well. it remains unchanged. we think it is desirable for the united states to return to the gpp. so, japan hopes to see u.s. come back to the gpp. during the meeting, i directly communicated our hopes to the president. i will not make any further detailed comment since it pertains to the diplomatic exchanges. finally, i invite questions from the u.s. press. >> thank you so much. i have a question for the prime minister, but first, to you, mr. president. we are dealing with one global pandemic, you said yesterday that monkeypox is something that everyone should be concerned about. there are a few confirmed cases in the u.s., and some countries are imposing 21 day quarantines for people who are infected or exposed. should americans expect something similar? pres. biden: i do not think so. we have had monkeypox in larger numbers in the past. we have vaccines

the u.s. military would defend taiwan if china tax. -- attacks. overshadowing a new trade pact meant to counter china's influence. vote 2022. georgia republicans had to the polls in a heated primary animated by former president trump's lies about the 2020 election. >> there is a fight for the future of the republican party in georgia. donald trump still a very popular figure within georgia republicans but what that means is going to be on the ballot. judy: another disease. multiple countries record cases of the highly contagious monkeypox virus as nations struggled to contain covid-19. all that and more on tonight's "pbs newshour." >> major funding for "pbs newshour" has been provided by -- >> it is the little things. the reminders of what is important. it is why fidelity dedicated advisors are here to help you create a wealth plan. a plan with tax sensitive investing strategies, planning focus on tomorrow while you focus on today. that's the planning effect from fidelity. ♪ >> the william a

and tumult in the u.s.. you might say as you think about the kinds of pushback we've seen from both the last [inaudible] so as i bring us back around through [inaudible] here's courtesy of the u.s. centers for disease control in very basic map, very basic chart of thinking about that flu pandemic so you have here that first wave much, more modest. you head into a second wave, quite an almost. significant numbers of deaths. in the month of october, 1980 along, you had almost 200,000 americans die. in that third wave, which is how we tend to just think about this pandemic, you see another significant update, right? it's not as if this has gone away. but what i want to emphasize is from another more detailed chart of one of the major statisticians working on these issues in the euro, [inaudible] collins and look to 1920. this is that for the way that i've mentioned where people when we tend to think the 1918 pandemic has been quote unquote endemic, when you think of, that unified find very height high death rat

>> u.s. and south korean officials have warned that they could be expecting -- instruction from north korea. they're prepa for the possibility that kim jong-un could have a weapons test while president biden is visiting. that would be highly unusual, but at the same time north korea has carried out 16 missile tests this year presumably part of the push to build pressure for what he wants to get which is to have sanctions lifted and to have noh korea recognized as a nuclear state. both of which the u.s. is not prepared to accept. that may happen while mr. biden is there. no doubt the weapons program will be a topic of discussion and perhaps the covert outbreak because there is a covert outbreak at the moment. cases from zero to million in one week in north korea. >> china is always the elephant in the room. the u.s. would like to counter some of the rising power and influee. what is joe biden able to bring to the table? >> security assurances. south korea and japan were rattled by donald trump

what u.s. officials say is that of course they can focus on two things at the same time and in fact the president's ability to rally allies behind a sanctions regime against russia is actually very reassuring to american allies in asia who are looking at the situation here and wondering what might happen in the next several years or decades. and so certainly north korea is high on the agenda as paula laid out, u.s. officials sort of bracing for a potential provocation should that happen while the president is here on the peninsula. but of course the other major issue that is looming over this trip sort of unspoken but certainly a major factor is china. and the president has really sort of made it a central facet of his foreign policy to counter china and sort of compete in the same military and economic space as china does in asia. and so when you see the president arrive, first thing that he will do is go to this samsung factory that is manufacturing semiconductors, those critical microchips t

the u.s. 10 year now above that 3% in terms of the yields. just a move up a little of two basis points. you hold about 3% on those 10 year yield. the spread between the italian benchmark 10 year and the german encz mark is now around 200 basis points. 250 is seen as a danger zone for some. in terms of the bloomberg dollar index, adding further gains of 0.4%. bitcoin was crushed yesterday as well. it is down 0.2%. it is part of that risk off move. francine: the yields between germany and italy rely the most on russian gas and oil. this is the picture for the sectors. there are a couple of stocks that are better than expected but overall, the 19 groups that make up our sector watch, all of them are down. you have travel and leisure down, technology the second-biggest father, and energy down 0.2%. if you look at what happens between the u.s. and europe, you could argue that valuations in europe have been more entrenched because of the proximity to russia which is why we are not seeing a correctio

as you see here, u.s. trading forces there in an induction camp in syracuse, new york and french forces near the western front are near ideal kinds of configurations of human beings to help spread and to help enhanced mutation of viruses. if you think about this moment, another key element to understand about that pandemic and, in some of the ways that we've dealt with it in the u.s. and around the world, as to think of it in terms of patriotism and in terms of nationalism or other kinds of calls for bringing people together for communal or collective effort. so, you saw the world war i context first, a real attempt through organizations like here, the red cross, to manifest and operationalize a kind of patriotism, to turn that against the virus as the war was ending, as that deadly second wave was coming across and crashing across the u.s.. and red cross volunteers and others making gauze masks, where in the so-called fight against the virus. as you see there as you see there on this line. if i fail he di

the u.s. not to underestimate chinese people's resolve to safe guard national sovereignty. this fiery rhetoric not surprising and not new. the real question on the minds of many analysts and likely many chinese officials seem to be how many of these presidential gaffes if you will would take to convince the beijing leadership that there is a real shift in the u.s. policy toward taiwan. that has been replaced by strategic clarity. but regardless of backtracking from the white house afterwards. so the question becomes whether and how that shift would change the thinking and calculation of xi jinping. many seem to think instead of deterring him from attacking taiwan, he would accelerate preparations and planning because as much as beijing hates the comparison between ukraine and taiwan, one likely lesson they have drawn from the war in ukraine seems to be the longer you wait, the more difficult it may become to take over taiwan by force given the likely improvement in taiwan's defense capabilitie

european stocks and u.s. futures bounceback after another brutal day on wall street, but the fed warns of worsening liquidity. bitcoin briefly drops below $30,000 before rebounding. oil extends a slump as they eu scales back planned curbs on russia. hungary cites progress in talks over an oil embargo. and tom, european equity markets seem to be playing down shares, up shares this week. yesterday with heavy selling. today we recoup some of those losses. tom: of course the context is your to date, we are still seeing double digit losses across the benchmark. they ftse 100 something of a safe haven because it is largely disconnected from the u.k. economy, down 2% year-to-date, but the gains are decent in the session today. not making up for all the losses, but there is more change in terms of mood music. that dax is up by one how to 48 points, up more than 1%. the ftse 100, gaining .7%, we are looking ahead to the speech to be done by prince charles later today and they policy agendas for the british government

the u.s. will provide the island with the means to defend itself. the u.s. describes the policy as strategic ambiguity. it is not say we will defend taiwan, but it does not say that we would not. >> what is never said is whether the u.s. would impact come to taiwan's defense militarily. it is that ambiguity that the whole delicate balance rests on. >> the reason people are paying so much attention is it seems to go against the u.s. policy of strategic ambiguity, which is to never quite reveal how far it would go to defend taiwan if china did invade mr. biden did not sound ambiguous at all. he said that the u.s. would militarily intervene. he did not crify what that meant, but he did sound like it would mean more than giving taiwan arms. he has made such statements before, but this was the most forceful because of the way he ed it in the russia-ukraine public. he said if china would go after taiwan by force, it would be similar to what was happening in ukraine and that made the burden stronger. he did say that he was not expecting china to do that and that th

also, u.s. china relations, we are the likes of schmidt saying it is about technology, china is investing a lot in ai and that is leaving the u.s. about 10 years behind. we get inside the u.s. china relations, from the founder -- and that former u.s. ambassador to singapore, also from a u.s. undersecretary of commerce. it is a big week. with the rba and the fed both expected to raise rates in their respective meetings. let's bring in our global economics policy editor on what to expect with australia's decision just hours away. to hike or not to hike, that is the question, what is driving the rba? >> you put one more monkey wrench in the works. they are looking at high inflation, but also elections less than three weeks now. can you really make a big move, the first rate hike since early 2010s, at this point? here is what people are expecting, it is kind of all over the map. there are of 30 economists surveyed by bloomberg to see a 15 basis point move. you get the rate hike line, you get up to 2

haidi: u.s. futures are heading higher at the start of asia's trading day and what will be a key week for monetary policy and we see hopes for a rebound given how fast emerging-market stocks have fallen. let's discuss this this. there's a lot to talk about. if we are seeing peak inflation or peak bearishness when it comes to these markets. are there opportunities now? >> good morning. yes. s&p 500 is very strong this morning following the momentum from what we saw in the last hour of trading in the u.s. on friday because investors got options out of the way. the s&p 500 has been falling for seven straight weeks, the longest stretch of weakness since 2001. emerging markets, pessimism have's peaked. a lot of the news has been parsed in. looking at technical indicators, the average valuation for emerging-market stocks has fallen below the average in the last 17 years and the dollar debt spread for those markets is at levels we last saw during times of stress so some managers have refused bearishness

the u.s. economy. watch "washington journal" live at 7:00 eastern on c-span or on c-span now, our free mobile app. join the discussion with your phone calls, facebook comments, and tweets. defense secretary lloyd austin said there was no change to the one china policy when asked about president biden's comments about defending taiwan. sec. austin: good afternoon, everybody. we had a highly constructive morning at the second meeting of the ukraine defense contact group. i am delighted we were joined virtually by more than 40 ministers and chiefs of defense. i am glad the contact group once again got to speak with ukraine's ministry of defense, my good friend. we are also joined by the deputy commander in chief of ukraine's armed forces and by ukraine's defense intelligence representative. i am also proud and pleased to see several new countries attended today's meeting of the group, including austria, bosnia-herzegovina, columbia, ireland, and kosovo. we are delighted to have them aboard and we

u.s. and whether that gives us more detail in terms of right trajectory. and if we are reaching peak inflation. we did see gains on wall street overnight. nasdaq not making up for losses we saw on monday, nasdaq up 1.3%. and the tailwinds from china, whether covid cases have started to come off a little bit. you are seeing gains of 1% on the cac 40, the ftse 100 gaining .4%. the queen's speech outlining policy priorities for the british government yesterday. we watch the implications of the gas price move, 5% yesterday, and increases today on the disruptions out of ukraine. let's see how things are playing out across assets. moves that were substantial when it comes to technology in hong kong. at one point getting 1.6%, we've written this road before when it comes to the uptick. we will continue to watch that space. part of that a relief move by investors. nasdaq futures adding onto gains yesterday, up around .5%. the 10-year yield at 2.95, below the 30% level. -- 3% level. brent is up 2.5

the u.s. debt issue is remaining on hold for the holiday we can that conversation is coming up next. this is bloomberg. this... is the planning effect. this is how it feels to have a dedicated fidelity advisor looking at your full financial picture. this is what it's like to have a comprehensive wealth plan with tax-smart investing strategies designed to help you keep more of what you earn. and set aside more for things like healthcare, or whatever comes down the road. this is "the planning effect" from fidelity. matt: this is bloomberg real yield. the time is the auction block, where we kick things off in europe with a host of sovereign debt deals boosting issuance above trader estimates, offerings from italy, france, and austria pushing weekly volume to roughly 46 billion euros. then, in the u.s., high-grade bond sales are missing weekly estimates by the largest margin this year. just one borrower coming to market and raising five million dollars, head of the memorial day holiday. and here i

u.s.' role in the sinking of russia's flagship in the black sea. >>> the bombshell new claim, did former president trump want to send missiles into mexico to destroy drug labs. whats former secretary of defense is saying in his new book. >>> and how young is too young to run a marathon? >> were you sore after the marathon? >> yep, i was. >> the parents of this boy are responding after he recently competed in a marathon. >>> the $35 sculpture purchased at goodwill which turned out to be a priceless roman bust. >>> and the news about pollen that no allergy sufferer wants to hear. >>> good friday morning, everyone. we begin with one of the covid-19 vaccines getting new limits on who should take it. >> the johnson & johnson vaccine is still considered safe and effective, but now the fda says adults should only get that particular shot when the other vaccines are not available. >> abc's justin finch is live in washington to explain why. justin, good morning. >> reporter: mona, good morning. the

and while the war intensifies in eastern ukraine, could the u.s. embassy in kyiv have the u.s. military defending it? that's live, next. ending it? that's live, next. we are her teachers, her therapists, chefs... oh, that's why we're tired. it's because we're doing it every single day, all day. how do you like learning at home? i kind of don't like it. i kind of don't like it either. i just want you to have everything. everything that you want in life. ♪♪ ♪♪ ♪♪ before treating your chronic migraine— 15 or more headache days a month, each lasting 4 hours or more you're not the only one with questions about botox®. botox® prevents headaches in adults with chronic migraine before they even start—with about 10 minutes of treatment once every 3 months. so, ask your doctor if botox® is right for you, and if a sample is available. effects of botox® may spread hours to weeks after injection causing serious symptoms. alert your doctor right away, as difficulty swallowing, speaking, breathing, eye problems, or muscle weakness can be signs of a life-threatening conditi

particularly in the u.s. considering its change in the perception, where it is argued rightly so i think, that activity below the threshold of armed attack can cumulatively still be strategic and meaningful. maybe one gigabyte of data being stolen by the chinese is not a big deal, but doing this repeatedly is significant. the second question is what is not a red line? and that is actually a hard question to answer. i've asked it a couple of times in different rooms and rarely do i get a coherent response of what is off limits and what is allowed to be done. rarely is activity undertaken by an adversary that isn't strategic. but we've just argued that all strategic activity can, like, shouldn't be done. so there is a strange kind of norms question here that has emerged, that hasn't really resolved. the second point as i am sharing, and i think it's a great point that emily made, on the importance of sharing. in some ways we are doing this already. but equally i think we are not doing it enough. so we need at l

u.s. president will be arriving in japan from south korea. this will be his second stop on his tour aimed at boosting alliances in asia. >>> in ukraine, new vehicles are helping fight the war. civilians donating their cars to help troops on the front lines defending their country from russian aggression . >>> u.s. president joe biden is headed to japan after wrapping up a three-day visit to south korea. he left owe sawn air base just outside seoul a short time ago, expected to arrive in japan in about an hour to mark his first trip to asia as commander in chief. while biden has tried to focus on bolstering america's economic ties in the region, the shadow of potential conflict is never far away. saturday the u.s. and south korea announced plans to hold joint military drills. blake essig is in tokyo with a preview of what to expect from the japan leg of biden's trip. let's start with paula hancocks. so the headline was the resumption of joint military drills, but there were important econom

the u.s. don't think things are easy in our country. amy: this comes after a 36-year-old father from salvador and his seven-year-old son drowned while attempting to cross into mexico from guatemala. in related news, asylum seekers trapped in the mexican border of city of tijuana led a protest monday denouncing the biden administration's use of title 42, the trump era pandemic quarter that has been used to block over 2 million people arriving at the u.s.-mexico border seeking refugee status. a federal judge on friday ordered the biden administration to continue enforcing the policy. protesters insist they have a right under international law to claim asylum. >> for us, title 42 is the dream of many because asylum is a right and title 42 takes thahat right away from us. >> we have been here for almost a year. we have been in the shelter for five months. we have been in a resident apartment for five more months. it is very difficult. we hope things and in the u.s. will be different. here in tijua

some u.s. officials, including president biden, have alluded to the possibility of putin leaving power, regime change. so what we're seeing i think on both sides is escalation. escalation in the objectives i think that they are seeking and with that escalation of objectives, i think the likelihood that this turns into a direct military clash between the united states and russia goes up. so this is a very dangerous moment i think. juan: george beebe, in terms of this new call for $33 billion in aid that president biden is made to congress for ukraine, this is an astounding amount of money. i looked at, for instance, u.s. foreign aid to the entire latin america and caribbean region has averaged over the last 60 years about $3 billion annually and yet many americans are so worried about the increasing flight of so many people from latin america across the u.s. border but yet we are giving so little aid to the countries there but somehow we come up with $33 billion? what is the signal the biden adm

the u.s., former president donald trump and senator ted cruz were among those speaking. we are up-to-date with our top stories, ward news -- more news after inside story. ♪ [speaking foreign language] [speaking foreign language] [speaking foreign language] [speaking foreign language] [speaking foreign language] ♪ >> is china the most serious challenge to the national order? the u.s. accuses beijing of undermining global authority -- security. is the criticism justified? this is inside story. ♪ mohammed: hello and welcome to the program. china processes -- poses the most serious long-term challenge the international order. anthony blinken said that as he unveiled the biden administration strategy to compete with china's rise as a global superpower. he insisted washington does not want a new conflict, but he said under president xi jinping, the communist china -- chinese party is becoming more oppressive abroad. territorial pursuits in the south china sea and accusing beijing of sting with

ahead this hour, the u.s. dramatically escalating financial support for ukraine, with congress approving $40 billion for military and humanitarian assistance. >>> north korea prepares for a nuclear and/or missile test as joe biden begins his first official trip to asia as u.s. president. >>> was it just a friendly tour of congress by a republican representative or was it recon chance the day before the january 6th insurrection? inquiring minds would like to know. >>> live from cnn center, this is "cnn newsroom" with john vause. >>> the biggest and by no means not the last aid package for ukraine has been overwhelmingly approved by the u.s. congress. a rare and notable achievement given the deep political divisions between democrat and republican lawmakers. on thursday, the $40 billion aid package for both military and humanitarian assistance passed the senate, but not without opposition. 11 republicans voted against the bill in defiance of republican mitch mcconnell. >> anyone concerned about the cost of suppo

the australian dollar also got a big lift. 1.4% against the u.s. dollar. the u.s. dollar has been pushing all the other currencies around because after this move by the rba, the fed is still expected to be far more -- than most others. >> garfield, thank you very much. garfield reynolds giving us the latest on tomorrow's fed rate decision. the latest on asia markets. david, starting where you are in hong kong seems like you're going to be able to go to pools and beaches. >> yes, from thursday and two weeks after that, i'm a club person. i would be at a club until 2:00 a.m. by the way, i'm back in the studio, really underscores the story. just coming out of the lunch break now. the bench marks trading at 1.5%. it was a topsy-turvy session. hang seng index, at the start of the afternoon session. the reason i had the cost index up there, it was a 14-year high. let's talk about alibaba. >> my bedtime is 9:00 p.m. i have no idea what you're talking about. alibaba. talk us through the volatility there. >> yeah, a report out today, alibaba's home headquarters, the city, a

u.s. rice and u.s. wheat. what is petrol? jonathan: you can call it gas. this is up 6% and diesel is up even more and these are real price increases but they're not because of jeff bezos. tom: i don't understand soccer, you win a game off of a sure penalty shot? jonathan: sometimes that's how it happens. tom: it's ridiculous. lisa: it's the american dream. jonathan: futures on the s&p 500 down about a quarter of 1%. this is bloomberg. ritika: keeping you up-to-date with news from around the world, this is first word. germany plans to stop importing russian oil i the end of the year. german officials are confident they can solve logistical problems in the next few months. their consumption has declined to 12% down from 35%. saudi aramco posted its profits and followed big oil rivals and reap working earnings in the first quarter due to surging oil prices. it's become the most valuable company. the u.s. justice department is invest -- is investigating a mass killing in buffalo. the shooting left 10 people dead and three wounded in 11 people shot were black.

u.s. markets doing that now. a little bit of outperformance from london, a little higher during the auction but only small. dax and cac are in positive territory. cac up .2% we will continue all of this on the cable show at 5:00 p.m. in london, 4:00 p.m. in new york. you can find us on radio and on your devices. alix: coming up, countries in europe and north america reporting more cases of monkeypox. just how worried should you be? the last thing we need right now. we will break that down next. this is bloomberg. ♪ ritika: coming up, jonathan johnson at 2:45 p.m. new york time. this is bloomberg. guy: monkeypox now seems to be trending highly. new cases cropped up and cropping up in new york, sweden, australia, a lot here. double digits now here in the u.k. there is a sign that the rare and potentially deadly virus is seen around the globe. how worried should we be? there is but one man to turn to to find out what is happening here. a senior analyst for bloomberg intelligence. assam, how worried should we be? s

the u.s., japan i india and australia meet to tackle the huge issues of ukraine, covid and preserving democracy. president biden backtracks on comments about taiwan. we are just hours away from polls opening up in georgia. why this pivotal election is pitting donald trump against mike pence. how the former vice president could one up his old boss. >>> vladimir putin receives a stinging rebuke from one och his senior diplomats. why a top russian official says he has never been so ashamed of his country. >>> good to have you with us. right now the second in person summit of the quad is under way in tokyo. leaders of the informal alliance of the u.s., japan, australia and india are now holding talks one on one. u.s. president biden has been meeting with indian prime minister. also expected to speak with australia's new prime minister. one key focus of all these meetings, russia's war on ukraine. >> russia's assault on ukraine only heightens the importance of those goals. fundamental principles of

it's just not the u.s. you are talking about the probability of a recession is higher there, but they have raised rapidly in europe as well with the war in ukraine. and closer to home, china itself , prospects are for a hard landing in a scenario of extended lockdowns which could see beijing or other major cities go through lockdowns. china's growth pitfall to close to 1% in a downside scenario. that is going to have to knock on effects on the rest of the region. you might not see a technical recession in every part of southeast asia, but it will feel recession-like because one of the main factors propping up growth is real incomes are still positive in southeast asia, with minimum wage hikes expected to come through. if that does not play out, you will see a much bigger growth hit. yvonne: we saw the philippines and malaysia kick off their hiking cycle, can you walk us through what you think this cycle will look like for southeast asia, and are there rare exceptions that will not follow the fed? priyanka:

i still think the u.s. outlook remains the best. we have had a huge move in the dollar the last couple of months. it's about the pendulum of sentiment. the truth is somewhere in between. tom: to go from jason furman to dr. thin shows the span of the debate here in davos. lisa: we talk about oil prices and how the inflation hits the middle class. this is also a big discussion of food insecurity and what that does to the social fabric. tom: i agree. the social issue this time around is food inflation. so much of it is about the constraints that the international community has the shock of war in ukraine and the shock of what we are seeing in the markets worldwide. we will go to the source with barry eichengreen. i can't believe i'm saying this. i think 24 years ago. -- changed the dialogue of economics and it's very evident today in the constraints that nations have amid this food crisis. please stay with us on radio and television across america and worldwide. this is bloomberg. good morning. >> president biden says he will review tr

biden is clarifying u.s. policy on the issue is unchanged. beijing is pushing back telling the u.s. not to meddle in its internal affairs. and cnn is covering this story from every angle with reporters spread out across the region. kevin is live in tokyo. steven jang in beijing with reaction from china. and standing by in india. good to see you all. kevin, let's start with you. of course the main point coming out of the quad summit but also president biden's clarification on what he said regarding taiwan the day before. >> that comment is still following the president today. you saw that when he was asked question about it. whether the u.s. policy of strategic am guty towards taiwan was dead. he said no. trying to tamp down on the suggestion that he had thrown out a long standing stance. now the white house did come out and clarify say that no u.s. policy had changed. i will say when you talk to the president aids there's not a great deal of consternation about the president's comments. and i think the president and his team really think that the calculus in all of this changed by r

the u.s. policy on the issue has not changed. while those comments come shortly after you wrap up a meeting with prime minister kishida. moments ago, mr. biden is counting china's growing influence in asia, while the plan is aimed at a partnership, it is hoping to make the supply chain more resilient. biden is partnering with u.s., japan and south korea have signed on so far. while cnn is covering this story from every angle. we have kevin in tokyo with the latest developments. let me start off with that economic plan. we heard from prime minister modi of india talking about his vision for this plan. what is standing out for you so far? >> reporter: well, this is really president biden's attempt to build a collective block, an economic sphere to counter china and the region. the u.s. had been without such a plan since president trump backed out of the tcp. he says he has 12 other nations plus the united states to join this indo pacific economic frame that will layout the rules of the road, in

u.s. headed for a recession? >>> the baby formula shortage getting worse. 45% of the nation's stock sold out when the first flights bringing formula from europe to the u.s. are expected to take off >>> severe weather the tornado strike in michigan and the record heat spreading across much of the eastern u.s. >>> the first funeral for one of the ten victims of the buffalo supermarket shooting >>> new york city investigating a possible case of monkeypox after massachusetts confirmed the first u.s. case of the year, the growing global spread >>> and inspiring america. the fifth grader giving other kids just like her a reason to smile. >> announcer: this is nbc "nightly news" with lester holt >>> good evening there is breaking news as we come on the air tonight. a federal judge has just blocked the biden administration's plans to lift covid-related restrictions at the southern u.s. border the trump-era rule known as title 42 was set to end on monday but will now remain in place. it allows bord

janet yellen says the u.s. is unlikely to extend a sanctions exemption that allows moscow to make payments on its international obligations. want to bring in clare sebastian live in london. another part of allies' efforts to hold vladimir putin accountable for his invasion of ukraine. >> reporter: yeah, 100 prgs. t %. the sanctions that came into force on the russian central bank, they were the most surprising to the russians themselves, but they did have a carveout at the time that would allow russia to continue to make payments on its external debt. it looks like janet yellen the treasury secretary says that that exemption will expire may 25th, which will of course as you say push russia closer to a default. the impact, not clear that there will be much. they already are shut out of international borrowing markets. but it would be symbolic and add to the already mounting cost of sanctions and those are costs that janet yellen also laid out. take a listen. >> the sanctions imposed against the russian federatio

biden said the u.s. remains fully committed to supporting japan. listen. >> the u.s. japanese alliance has long been the corner stone of peace and prosperity. and the united states remains fully committed to japanese japan defense. and we will face the challenges today and the future together. >> now, while much of the focus in south korea of course was on the rising threat from north korea, in japan all eyes on china growing economic and military footprint. in the coming hours he is expected to unvail the administration new economic frame work for the region. the goal, boosting ties between the u.s. and asia pacific allies to counter china. president biden will bring a similar message to a meeting of so called quad alliance on tuesday. where he'll speak with leaders from japan, india and australia. cnn is covering this on the ground with our kevin and blake. standing by in tokyo with the latest developments as we await the press conference from president biden and prime minister. kevin, this is going to be quite a balancing act for the president. he obviously wants t

the u.s. and canada trade, more than two billion dollars daily. that is a two billion dollars daily. there is no better symbol of our energy relationships in our interconnected, which is seamless and enter growth for the reliable electricity, citizens, and industries in both of our countries depend on it. and, we are here for each other during these times of need. electricity workers from both the u.s. and canada regularly crossed the border and extreme weather events to help get the power back on. that is when mother nature calls. canada has wrapped up all exports to the u.s. to offset russian crude and member of our committees led legislation to cut off the energy forces fuel in putin's war machine. we know that a number of u.s. refineries are running on heavy crude and canadian heavy crude runs an alternative to sources like venezuela, which we have sanctioned due to the anti democratic actions. canada is also a leading supplier of uranium, and critical minerals to the u.s.. including those

the u.s. military, an air lift touches down in middle america with a critical shipment on board. 500,000 bottle's worth of baby formula. but we begin the hour in tokyo. president biden dispensing with diplomacy to deliver a stern warning to china. >> you didn't want to get involved in the ukraine conflict militarily for obvious reasons. are you willing to get involved militarily to defend taiwan if it comes to that? >> yes. >> you are? >> that's a commitment we made. we agree with one china policy. we signed onto it. and all the attendant agreements immediate from there. but the idea that it can be taken by force, just taken by force, is just not appropriate. >> the president did not spell out just what military involvement might mean, and the white house insists the president's answer does not alter american policy. but it does rip up the careful script presidents normally follow on the taiwan issue. we start our coverage in tokyo with jeremy diamond. the president said the quiet part out lou

the u.s. and canada trade, more than two billion dollars daily. that is a two billion dollars daily. there is no better symbol of our energy relationships in our interconnected, which is seamless and enter growth for the reliable electricity, citizens, and industries in both of our countries depend on it. and, we are here for each other during these times of need. electricity workers from both the u.s. and canada regularly crossed the border and extreme weather events to help get the power back on. that is when mother nature calls. canada has wrapped up all exports to the u.s. to offset russian crude and member of our committees led legislation to cut off the energy forces fuel in putin's war machine. we know that a number of u.s. refineries are running on heavy crude and canadian heavy crude runs an alternative to sources like venezuela, which we have sanctioned due to the anti democratic actions. canada is also a leading supplier of uranium, and critical minerals to the u.s.. including those

u.s. president joe biden says that he will not provide ukraine with a large range rocket systems that confined to russia and an adviser into ukraine's president says that he cannot defeat russia militarily, without them joining me now from edinburgh scotland, stuart crawford, a retired lieutenant colonel in the british army, now working as a defense analyst, thank you sir for being with us. >> good morning, russian forces a gaining ground in ukraine's eastern donbas region, moving into the city of severodonetsk, how inevitable is it that russia would take control of that city and ultimately the donetsk and luhansk regions? >> i think that a recent report will indicate that perhaps the russians have taken about one third of the city. but the fighting appears to be particularly fierce at the moment. and the progress is slow, and i suspect very costly. and whether they will take the city quickly, i very much doubt, but the seems to be an almost inevitability about the city falling at some poi

the u.s. joint force from our role is to continue support to the ukrainian military as long as directed and we have the capability to do so. all of this is important because the ukrainian military people are fighting not only for their country but fighting for principles as the secretary mentioned about the rules-based international order that affects all of us. the secretary mentioned the progress we made at ram stein a month ago was a follow-on to today, was a predecessor to today. united states military comprises one of the key components of u.s. national power, diplomatic, economic, informational, and military. our task is to protect the homeland and stand ready to defeat the enemies of our country. we stand ready as part of a whole government approach to the united states and alliance approach and partner effort you saw this morning. last fall the united states military had about 78,000 army/navy, air force. in a few short months we have bolstered that by 30%. this morning we have roughly

. >> reporter: they have a lot of u.s. intelligence. the u.s. is basically giving the ukrainians everything they have on ukrainian troop movements -- excuse me, russian troop movements, russian battle plans. so the ukrainians have a very good picture of what the russians are up to. and, you know, at the end of big battles, you usually read a history in which intelligence turned out to be decisive in that battle. i don't think you can say that yet, but you can certainly say that the ukrainians are going to have an intelligence advantage. the issue is going to be whether that intelligence gets down to the units that need to act on the intelligence. >> brennan: david martin, great insights and reporting. thank you. >> reporter: sure thing. >> brennan: we go now to senator tim kaine who joins us from richmond, virginia. good morning to you, senator. >> great to be with you, margaret. thank you. >> brennan: we woke up to the images of speaker pelosi and top congressional democrats walking around downtown kyiv. it is a statement of support. i know pre