And we will figure out whether technology was going to come bank hard into the race story. Looks like that is what is happening. Announcer the countdown is on in europe. This is Bloomberg Markets european close, with guy johnson and alix steel. Guy lets get more details on what is happening. I want to show this toxics hundred and Siemens Energy and stanchart because that is under significant pressure. The stoxx 600 is kind of going sideways but continuing to drift lower. One of the big stock stories under significant pressure is Siemens Energy. Down and down hard. A reaction to that. In terms of what this means, it is hard to deduce. We need more earnings and clarity on the data to understand what is happening this earlyseason feels like it is much more pivotal than the last one in terms of market direction. Alix Siemens Energy is down 34 . That is a big move. Lets take a look at text because nasdaq is below its 200 day moving average, really in part because of meta. Numbers came out ok. But the forecast in addressing is very dicey. Two things to watch. The one dollaryen. We have had intervention verbal or otherwise around the one for the level. Watch this for the next 24 hours. And the sevenday real guild. This is important because we have the 500 option stuck yesterday. Next week, we get funding. It feels i am hearing more and more about a fire strike. If it does not work out, how high do yields have to go . Guy potentially higher. It looks like the ecb, for now, is done. We have had as from the ecb. Received lagarde will not rule out further rate hikes, but you have to do that because she does not want the market to price cuts. This is what she had to say earlier in athens. Madame lagarde it remains weak in the economy. Manufacturing output has continued to fall. Some from foreign demand and tighter financing conditions are increasingly weighing on investment and consumer spending. The Services Sector is also weakening further. This is mainly because weaker industrial activity is spilling over to other sectors. The impact is from reopening effects is fading and higher Interest Rates affects our broadening. Alix list go to athens. Bloomberg european correspondent rayo taddeo maria tadeo joins us right now. What are we hearing about the take away for the ecb . Maria guy is right in the way he frames this. She does not want to say whether they are done or if this is officially the end day. The reason is not to signal they are done but because they do not want to precipitate the conversation into cuts. You have to put yourself in the shoes of the European Central bank and governing council. The way they see this is they have gone into height, hike, hike 10 times now. This was the most aggressive hiking cycle to date. Then the want the market to adjust that and focus for how long. They do not want the market to sidestep that and immediately go into cuts. But you know that once you hold, ashley wants you look at downside risk, the eu will think they are freezing and then the conversation begins into cuts. That is one issue where the European Central bank does not want to see an accelerating issue in debate. The bank for the most part decided to hold. She repeated the actions of the central bank is working and the transition is working. And you will see an celebration next year. Under the radar at the press conference, she did say that just because we today does not mean that we will not hike again. I want to play number on the peak again. As guy mentioned the work, they have to say this to balance what we are seeing as a dovish decision when you look at qt and rate investments running all the way to 2024. Guy i am very jealous. Athens. What a great city. Alix didnt you live therefore years during the financial crisis . Guy i was there for a long time during the financial crisis. Spent a lot of my time on the roof in athens. Very fantastic work from maria tadeo. In the last hour, spoke to the former ecb president john kline trichet, trying to compare what is happening with the ecb and the fed. He thinks the fed probably ends up more hawkish than the ecb. John it is normal that we have a fed which is hawkish. Because we have supply shock with war in ukraine, prices of oil and gas starts are much higher, and we are not sufficient in this domain. Prices of food are higher and we are not selfsufficient in comparison with the u. S. We have a lot of a very high supply shock, much tougher than in the u. S. Guy the former ecb president , john claude jean claude trichet. It is fantastic to get your analysis post the press conference. What was your take away from today . Peter it was a wise decision not to take a hike. I think it is right. The situation in europe is very different than u. S. The u. S. Is too hot. I think what Christine Lagarde said is much more pessimistic on the economy than the previous meetings. Alix if i read between those lines, are they going to have to cutish . Peter i think that is what she also said. I think this was a unanimous decision. I think most governing Council Members were surprised by some of the data we saw, especially in the transmission of monetary politics. When you look at the data of credit, the credit cycle is really turning. I think we are only at the beginning of the turn of the credit cycle. We have not seen yet a love bankruptcies but this is just the start. I think the ecb still underestimates the turn of the credit cycle. But at least they acknowledged the context has really changed compared to what was the expectation so long ago. On the inflation front, things go better. They go in the right direction. I think the ecb acknowledges them which is good news. But the city approaches this flow and i would agree with that. We have an average from the ecb on the real economy. Guy is there a danger that the u. S. Economy is too strong for what europe can bear . I am looking at this through the Interest Rate prism. Peter that is a very good points. Guy we have see huge moves. It has bled into europe from the u. S. This is where Companies Finance themselves. If the euro is falling over but the u. S. Economy isnt, what happens in that scenario . Peter this is a good point you make. I share with you innovation. The question was asked to Christine Lagarde about these the louver from the u. S. Of rates to a situation be about the spillover from the u. S. Of rates to a situation. The spillover is something where the ecb could have taken a stronger view, where Christine Lagarde could have said that we took into account that she was not very explicit. It was a bit early but the impact on financial conditions is significant. This will probably acknowledge the december meeting or the coming speeches. It is really an issue. Alix sets us up for the question of the day. If the ecb has plateaued, does powell actually need to keep climbing to its peak . Are we going to be in situation where the ecb will hold for a while and fed will keep hiking . What dynamic does this create . Peter it is an real issue. We have this conversation back in 2015. To save the situation is different. At that time, we used reach guidance which we were trying to decouple longterm rates from the u. S. We succeeded to some extent to having this. There was a time of potential in the u. S. Here, so far, the ecb communication has been that what we have seen coming from the u. S. Supports the monetary tightening and supports what we try to do on inflation. What Christine Lagarde said today was a little softer. She said we take this into account and have the knowledge it was externally driven, so it is a spillover, we take that into account. But then she stopped there. We will see how the situation goes. Guy how does the ecb manage that . Can you manage this via qt . If she lessons off on the qt front, could this have an effect . Peter and point. One of the reasons why you have the decompression of the term premiums is qt, of course. There was a lot of room or in the markets that the ecb would start to this thus qt for the pandemic emergency purchase portfolio. Like Christine Lagarde said, we did not discuss it. That is the kind of communication which helps with the rise of the term premium from the u. S. It is really, at some point, the ecb would have to show there is a divergence in the monetary polity Monetary Policy sense. My sense is the u. S. Runs hot so it is a much more simple demonstration. Europe lies in a very different so to different situation with stagflation. From an Monetary Policy point of view, it is difficult to manage. Alix something that comes out to your point is how fiscal and monetary are fighting against each other. There is so much physical spend that that is adding and deficit issues are adding to the term premium. In europe, we have not seen that by wonder if we are going to. For instance, being asked for a backstop in germany. I wonder if that is just one that will have to go that way. Peter that is true not just in the u. S. But around the world and also in europe. It is striking when you see the communication of Christine Lagarde today. There is a big of fiscal policy. The ecb said that you know fiscal policy if it is going in the same direction, that means being toulouse. This is quite an expensive message from the ecb. The message is we see what has been done so far is very strong and we only see the beginning of the turn of the credit cycles. And we only see the early signs. The ecb says the First Quarter of next year will be better. We go back to the trends. I think this will be difficult to achieve. Guy how do we put into the bottle the uncertainty that is being created by the war in ukraine and now in israel. Peter it is very difficult. That is why Central Banks are trying to say that they give a very strong message in terms of patient and price stability but at the same time, we are data dependence and flexible and ready to change our position. But since inflation is still too high, the deflect us direction of policy is tightening too high, the direction of policy is mainly tightening. To even think about discussion about cutting rates. We will have to see early next year what is the situation. I would say the economy is not in good shape today. I think it will not prove approved by the end of the year. Alix strongly out of the u. S. , economy in europe not in good shape, an owl is movement from an owlish movement from Christine Lagarde. When do you think the u. S. Will we get enough echo peter my sense is it will come earlier. Sooner rather than later. The ecb rightly does not like this sort of discussion. Because once you communicate of the first cuts, you will see this within the longterm rates. For the time being, the ecb figured this would be a loosening of financial condition. The situation would change what sort of data we get. My sense is the data will continue to be cool. And that this will come sooner than later. Alix well said. We appreciate catching up with. Peter praet, former chief economist at the ecb. Feels like they will be on different mountains. Guy one will be getting to the top while the other goes down. If the ecb cuts first wow. We are trading 105 right now. We could get back very quickly. Alix it is this whole circle thing. A trio of german automakers, first ladies, mercedes, volvo, volkswagen. Top of the car industry. We will also hit on Siemens Energy. And speak to Ceo James Gorman and his new successor. James you try to drive strategy and put together a team and try to deal with the inevitable nonce you get from the a market in the disappointments at any context. At the end of the day, you are trying to hand it to the next generation, so it feels great. adventurous music be ready for any market with a liquid etf. Get in and out with dia. In china, this year, we have seen growth rates which are lower. The expectations we had at the beginning of this year tempora did a bit better. On the gdp side, in the recorder, our china sales were up quarter over quarter. Even so, gdp is running at a lower level. It remains the most important market. We see opportunities in the longterm. Guy stocks under pressure, mercedesbenz. Ceo speaking earlier. A similar situation out of volvo. Volkswagen preleasing earlier but also with disappointing earnings. The auto sector continues to be under pressure. In some ways, we should have anticipated this. The consumer is facing high price points and is starting to be in a position where they can not be them. Bloombergs elizabeth bearman speaks with us. Is it just a matter of time, should we all have anticipated a taste of point this happened . In the market it to a certain extent would run this . Elizabeth it elizabeth it was just a matter of time to catch up. It is quite surprising how well things have held up against that backdrop. What we are seeing is margins have started to come down even for the premium comic carmakers like mercedes. At the same time, costs are starting to hit them because they are too exposed to the sticky inflation rates . Alix how does the handout . In the u. S. , we wound up having a deal with uaw and ford and are still arguing with stellantis and gm. Did they have to lay off workers . But will be the trickle down . This will lead to a sex Siemens Energy. Elizabeth i dont think we are at the point of any layoffs. Particularly not in germany. Once we will see is the will come out of a period of innovative prices that we had during the supply chain issues when there were not enough chips around to make a sick fish and number of cars. Prices for mercedes have come down already. We are likely to see more of this. And the cfo was quite distinct in his description of what the cars are facing. He was calling price more brutal and unsustainable. Guy so there are folks on the highermargin upper and cars as well. You will see how this goes. Alix steel brings up Siemens Energy. The company has put so many feet wrong on his journey to where we are now the it is hard to encapsulate it. The fact we are now having to go to the german government, not only to support the renewables business, but everything else, to be able to deliver turbines and delivered to the gas industry. What is the governments response . What happens to them . How much time does the company have . Elizabeth like you said, Siemens Energy has been under a crowd for quite some time, stemming from issues in the onshore wind turbine business. They have been trying for years to get on top of these problems. It will be said that the other parts of the business, making gas turbines or transmission lines are comfortable. But these issues are now starting to seep into other areas of the business. Sucking up funds and thereby forcing the company to seek help from the state. The response is likely to be positive because Siemens Energy is a very Important Company in the green transition. Alix exactly. Is it 16 billion euros or does it stop there or go up or come down . Thank you for joining us. The closes coming up soon. Seven minutes away. This is bloomberg. Guy broadly european equities are lower but single stocks really matter. There are epic moves we are seeing that are having a lot on into the indexes. Siemens energy we have already talked about. The stock is down 35 as it goes handinhand effectively to the federal authorities in germany. Mercedesbenz. We are seeing a slowdown in the auto industry. Campari, weakness of their. You do not want a flat upper all spritz flat aperol spritz. Siness license guidance . Ahhhhhh crossborder sales . Ahhhhhh item classification . Ahhhhhh does it connect with acc. . Ahhhhhh ahhhhhh ahhhhhh get help reaching your goals with j. P. Morgan wealth plan, a digital money coach in the chase mobile® app. Use it to set and track your goals, big and small. And see how changes you make today. Could help put them within reach. From your first big move to retiring poolside and the other goals along the way. Wealth plan can help get you there. J. P. Morgan Wealth Management. Its an amazing thing when you show generosity of spirit to someone. And you want people to be saved and to have a better life, then you dont stop. The idea that we have saved five million peoples lives, its overwhelming. Its everything. Guy markets in europe are definitely down. Germany leading the charge. Right red. Siemens energy and were sadies. A whole range of stocks driving the German Market down. They are down big. Germany is feeling it today. There is a narrative on the others of the atlantic as well with the knology story. This is how the day has developed. Not a pretty start. We improved as the day has gone on but we are still down. Down by 0. 5 on the stoxx 600. But this pales in significance when we look at single stock stories. Siemens energy. You have been talking about this already. You can see the full impact of this story and a company that needs help, government help. It started in Wind Turbines but the financial impacts of the Wind Turbines are bleeding into the rest of the business. It needs help soon. Stanchart is a china story. Mercedes, to go back to the german story, is also a china story. We are hearing from the ceo a few minutes ago. Cfo. These companies in germany are being hit by a multitude of factors. You have what is happening in the eurozone but also what is happening in the chinese economy , hitting pretty well. Hit by the china story. Down nearly 12 . Then out of amsterdam, i needed to bring a positive story to wrap up on. This is a company that stood relatively well and has a new hybrid bonds technology. This sounds like something out of a fixed income market but it is about fusing Semiconductor Chips together. It is Technology Looking like it could have legs. That stop responding very well, up nearly 13 . Spread is absolutely epic. What it means is the market,s will, just the recent down is largely going sideways. What will happen on friday . We will wrap with a whole range of things that will provide insight with what is happening. Caixabank and natwest. Iag will be out with numbers as is air france. What will smith say from those two companies . What is happening with the domestic story in europe and internationally . These companies are much more hedged. We will get retail sales from spain and gdp data. I want to see what happens with the german retail sales story. In so many ways, european consumers still have savings to rely on. But as the economy starts to go down, will these savings be hoarded to protect from storms yet to be emerged . Alix and there are storms emerging. You can hear that from Christine Lagarde. The eurodollar is down to 1. 0527. How much more downside is there if Growth Continues to hold up in the u. S. Versus being weaker in europe . Joining us now is the head of global asset strategy at jp morgan bank. What do you think . Steve it is sanyo it is tough to say. We look at growth differentials which has been driving the records of late. They are valuable for this week was close to 104. 90 at i need 1. 04. We were expecting some stabilization after the pmi data. The growth restrictions are higher in the euro zone. The 1. 04 value we is tilted to the downside in the nearterm. Guy how much to the downside . Samuel if you look at 1. 0 four down, that tends to be 10 on eurodollar which is how you get to parity. If you do get one percentage point downgraded in relative growth expectations, that is how you talk about this in our view. Alix in the opposite question, what is the upside to the dollar . I feel like we price so much strength into the u. S. Economy and are waiting for it to roll over. Candy dollar really have material upside from your . Samuel that is a good point. Given the risk aversion we have seen of late and increase in use, you could argue that the dollar should be stronger. Where we have conviction and the downside where it comes euro is on the crisis. You can put this on the crisis from anything too high carried to oil exporters. On the dollar side, we did not think are too stressed. But you could easily get a couple percent more on the eurodollar. Guy is the wildcard here not the dollar or euro but the yen . Samuel [applause] [laughter] the yen is always the wildcard in my view. If i could then look maybe over 12 or 24 months, i think you could get convergence over the rest of the world. But it is a difficult trait to have on. Because any day you have it on unless you are convinced it will really happen, you are bleeding negative carry day after day after day. Alix with the dollaryen over 150, what are they doing . Will they actively be in the market . What is your talk here . Samuel fair value based on rate differentials is higher than it is to day. More like 151 or 152. The market has been expecting the best has been respecting the 150 level. Now that we tested above one for you, there is nothing stopping us from getting above those levels. Unless there is real change in the policy outlook, which we do not expect. Tough to bet it is going the other way. Guy we have and with real extremes. I am wondering whether or not the volatility flux that and whether or not you are in a position right now where it is hard to make big calls. The u. S. Economy keeps cranking with the rate it is. Europe slows down. Demand man starts to make some changes. It is coming soon, maybe by year end. How extreme can fx volatility gets . How big could some of these volatility moves end up being . Samuel think back to one year ago when it was not too dissimilar to where we are today. European growth was weak and noble growth was weak. The dollaryen was close to 150. In just over two months, the dollar sold off one percent to 2 . The biggest question is when will this happen . I think this is a question for first half of 2024. We expect the dollar to stay as strong as it is or even get stronger over the next quarter. Guy sorry i am not there to say hybrid good to see you to say hello, but good to see you. U. S. Sessions continuing. Europe just finished. A little lower. He finished with a big gap. We traded sideways was sideways with a little volatility. Germany is where the role pain has been but with names like Siemens Energy and mercedes. That is where the narrative has been. The single stock story driving the industry story. We need to figure out what is happening with the u. S. Consumer today. Overstock is figuring out its future. What is beyond . Details next. The bed, bath beyond ceo Johnson Johnson is joining us. This is bloomberg. I did have hearing aids from another company. I was just frustrated. I almost gave up. With miracleear its all about service. Theyre personable. Theyre friendly. Im very happy with them. We provide you with a free lifetime of aftercare. Meaning free checkups, cleanings, and adjustments. I see someone new. Someone happy. Its really made a difference. Hear the world better during our limited time sounds of autumn event. Call 1800miracle to test drive our hearing aids risk free. Explore endless design possibilities. To find your personal style. Endless hardie® siding colors. Textures and styles. Its possible. With james hardie™. Was also the first time you heard of a town named dinosaur, colorado. We just got an order from dinosaur, colorado. Start an easy to build, powerful website for free with a partner that always puts you first. Start for free at godaddy. Com this is Bloomberg Markets. Coming up, citigroup lower markets director Global Markets director, veronica clark. This is bloomberg. I personally think the u. S. Has dodged a recession. We are within probably 25 basis points. We are starting to see this. Phenomenal. It is coming alive. Guy james gorman speaking. He believes the u. S. Has dodged a recession. One of the strongest pillars of the economy has been u. S. Consumer. You can see that in the gdp data that has been revealed. It continues to confound expectations. Economists continue to underestimate expectations. Talk to jonathan, bed, bath beyond c eo. Bed, bath beyond out of bankruptcy. Next week, the company will simply become beyond. Welcome. How healthy is the u. S. Consumer right now . Jonathan i think the u. S. Consumer is still struggling. Particularly in areas like furniture. It is tough. Interest rates remain high. Housing has not a lot of sales. People are spending on experiences. They are now having to get back to their debts. There is a lot of headwind. That said, i think this holiday season, people will be back shopping and it will be likely highly promotional. This gives us a good chance to win. Our new bed brand of bed, bath beyond. That is a name people shop was during the holiday season. Whether they are getting ready to entertain gifts or buy gifts. Tough but good for us. Alix you said promotional . Guy and i joked that wherever i am spending, you can short that stock because i will only buy stuff on sale. I am wondering how you see that tradeoff. You will want the numbers and revenue but how much will you want to discount to get me to stop there . Jonathan that is a great question and we are always looking at return on ad spend. There is always a number on every curve. At some point, promotions are very hurtful to the business. We are careful to make sure we are not doing that. As part of the bed, bath beyond acquisition, it is important for us. It grew quarter over quarter for the First Time Since the pandemic. Guy lets talk about the business you are in. Are you in the Customer Acquisition business or the origin . Which two are more important . to jonathan today, we are in the market share with Customer Acquisition. We need to grow our active customer list. We grew it by nearly 300 housing in the third quarter. Nearly 300,000 in the third quarter. We want to go farther and beyond in the fourth quarter. Alix and beyond, i got that. What can you do in business in terms of cutting costs, and set awry . Jonathan one of the great things about the acquisition is we have taken an asset light Business Model the overstock know so well. It ran 13 quarters in the row with profitability. We know how to protect our margin and make money. He think we are in a unique period post acquisition we think we are in a unique. Period post acquisition. Once we increase the post Customer Base with a larger base, top line comes and we know how to protect bottom line. Guy is the brand to different to what it was before . Are you in the brand repositioning business as well . Or do the basic core values around the brand stay the same . Jonathan basic core values stay the same. Great deals and promotional. I think what is different is making sure the customer, both the legacy overstock customer and legacy bed, bath beyond customer, and new customers coming understand it is not just bed, bath and kitchen. There is a bigger beyond. Furniture, patios, area rugs. We have seen particularly the new customer that has never shopped either, seeing the beyond category is much bigger than they expected. Alix is that how you will compete with wayfair, which has its own logistic arm . Is that the pullin . Come get your towels and also a rug and desk . Jonathan one thing we are working on doing is to increase the average quarter value. You do this by having people put more in the basket. We also know with the hard goods category, the bigger products like sofas and beds, the logistics actually is not a wise model and not part of our asset light model. If you are buying two pace and toilet paper, you want it this afternoon or tomorrow. If you want a bed or sofa, you want it when you say it will come when we say it will come. We are in the business of accurate delivery estimates with big items and we think that is the way to go. Rather than spending a lot of money. Guy are there any big macro drivers you think well have an impact on your business . You think will have an impact on your business . What happens with Student Loans . The new house market is moving rapidly. What happens there . Clearly rates will have an impact. What are the big drivers that will have an impact on your business over the next 12 months . Jonathan when we look at the economy, we see a train down. We have a good, better, best product offering. We have seen people trading down from better to best and good to better. I also think being in the areas where we are helping people remodel, rather than moves, is important. And being able to offer, how do you spruce up where you live and add to the decor . Maybe you are not in a market for a new sofa but you do need new throw pillows. I think the macro is tough and will continue to be tough. It will come down to offering products and prices and price points people like. Alix i have to say that i love throw pillows, must to dust much to the dismay of my husband. Ike i cannot get around that concept. Alix he does not either. Then you make the bed and it is perfect. This is a real conversation that happens in my house but. Jonathan bed, bath beyond will have will help with that stuff. [laughter] alix when you are talking about trade down, from beyond, when where will the trade down be . Is the trend down to walmart . How do you prevent that . Jonathan bed, bath beyond is an a chronic brand and one people love and trust. An iconic brand and one people love and trust. If people search on google or another Search Engine and find it now on bed, bath beyond rather than on overstock, they are much more likely to click through. It is a brand people trust and a brand that has been there for life moments. Whether that was moving to their first dorm or getting married and having a first child. All these things are part of the reason we are standing up to measure to register a business that bed, bath beyond had done so well and overstock had not. This will help us. Alix we really appreciate it. Come back. Jonathan johnson, bed, bath beyond ceo. Seem to be beyond ceo. This is bloomberg. An everchanging landscape comes with challenges. From our vantage point, we see opportunities. As a topten real estate manager, we harness the power of a 360 perspective, delivering local insights and global expertise across public and private equity and debt. Our experienced team and vast network uncover compelling opportunities giving our clients an exclusive advantage. Principal asset management. Actively invested. Alix stocks trading heavy and volume picking up. Abigail doolittle is tracking the moves. Abigail second down day for stocks in a row, having a lot to do with the tech laggards. Alphabet down for the second day in a rope. Meta down today this by great quarter. The color looking ahead on advertising spending is weighing. It is not all bad. The russell 2000 is higher. For the s p 500, there is a loss of stocks moving beyond make moving beyond mega cap tech. This has to do with the fact they raised their they affirmed their cash flow view and be revenue. We also have American Power higher. The stock having its best day since november 2022. To the downside, line is tumbling align is tumbling. A brace maker. And pool is down. Its worse since march 2020. From a macro standpoint, the story has been yield pressure and stocks. In october, take a look at the backup we have for the 10year yield. Now down 32 basis points as investors become comfortable with the idea the is higher for longer. This can be part of why we have the s p 500 now doing with the russell 2000 has been doing for weeks. The lowest 200 day moving average. The russell 2000 closed to a bear market average. You can see the s p 500 just going below the 200 day moving average. Not even in correction territory like the nasdaq 100. We can have some more brutal weeks ahead. Brutal is a worthy want to hear. Thank you very much. Take a look at longterm charts. What else to be house for the rest of the day . Amazon, intel and four will be interesting today given the potential for a desk and ford, which will be. And ford, which will be interesting today given the potential for a deal. U. S. Treasury secretary yellen speaks. The Chinese Foreign minister in washington making secretary of state Antony Blinken today. I am not done. The ftx prosecution. We will see the prosecution resting and the defense will start. Sam bankmanfried is expected to testify along with other witnesses. That is long. Alix and you also read that on a tv camera. That was not bad. I was giving you credit. More data coming out tomorrow. Big oil, exxon and chevron. That will be interesting in the local economy. This wraps it up for me and guide. Coming up, the founder and ceo of knickknack joining Caroline Hyde and ed ludlow. It looks to be another hard trading day. This is bloomberg. Lara, you dont have to worry about things like changing tax rates or filing returns. Avalarahhh ahhh j. P. Morgan Wealth Management knows its easy to get lost in investment research. Get help with j. P morgan personal advisors. Hey, david ready to get started . Work with advisors who create a plan with you, and help you find the right investments. So great getting to know you, lets take a look at your new investment plan. Ok, great this should have you moving in the right direction. Thanks jen. Get ongoing advice; and manage your investments in the chase mobile app. In Silicon Valley and beyond, this is bloomberg technology. I am in for Caroline Hyde. Coming up on this hour, full earnings coverage ahead, we will break down results from metaof the shed to amazon and intels earnings after the bell