Vaccine. And we start out with breaking news on disney, putting distribution in the center part of its business. Julia. Thats right. Disneys reorganizing its Media Entertainment business to accelerate its direct to consumer strategy. It says this is in light of the success of disney plus the move divides content and creation and content distribution, creating a new median entertainment distribution group, this group will be responsible for monetizing all content including ad sales and digital platforms liking disney plus the new division will also oversover see operations of the streaming service. I would not characterize it as a response to covid i might say that covid accelerated the rate at which we made this transition, but this transition was going to happen anyway because essentially what we want to do is separate out the folks who make our wonderful content based on tremendous franchises from the Decision Making in terms of where the prioritization is in terms of how it gets com
Has investors start to reassess risk. The other risk that needs to be reassessed, are we underpricing the fact we could see an upset in the conservative majority, cable down. 2 . Coming up, a host of interviews from the bloombergs Economy Forum. Tomorrow, standard chartereds ceo anddman sachs former white house adviser gary cohn, an absolutely stunning lineup. Lets get the first word news with Viviana Hurtado. He didnt initially realize the white house was putting unacceptable pressure on ukraine, this from a former envoy. Joe biden. Ng former special envoy kurt volker was one of four witnesses yesterday. Next will be Gordon Sondland. The fed minutes will likely reinforce rates are on hold. Chairman powell addressed the congress twice last week. The signal policy is in a good place provided there isnt a material reassessment of the outlook. The key thing from the minutes will be what that phrase means. Protests in iran have left at least 106 people dead according to amnesty internation
Investment committee is ready to go. Halftime report starts right now. Welcome. Glad to have you with us. Our Investment Committee at the table. We deal with the markets, stocks are higher. Pretty good Earnings Reports. Are we right theyre good enough, is that fair no. Theyre good. Much better than good. Jp morgan was kbrat. Cost in line and lowering cost guidance going forward. Valuation attractive. United Health Care Beat and raise and medical loss ratio which everybody was freaked about, in line. J j raising organic growth to five percent. I actually bought more j j. I dont think its up enough. You bought more j j. Joe, you bought more jp morgan. Absolutely. Lets talk financials for a second. Lets talk about jp morgan. Alltime high in this stock. Youre talking about a sector that is going to have flat Revenue Growth. We talked before. We want to see expansion in lending. You got that in auto lending, home lending. This is a phenomenal quarter. Citi group reversed its earlier losses.
Im Katie Greifeld in new york. Welcome to Bloomberg Markets. It is a down day in the markets right now on this thursday. The s p 500 currently off by about 1. 5 , and the story only gets worse if you take a look at big tech, with the nasdaq currently off by about 1. 7 . We know a lot of that is coming from meta reporting earnings last night. The stock is down double digits right now. That is what we are seeing in the stock market in addition to the Economic Data which we will get to in just a bit. You look at how it is filtering through the bond market. You have 10 year treasury yields higher by eight basis points. Firmly above 4. 7 for the First Time Since late last year. That is after u. S. Economic growth. We learned that it slid to a nearly twoyear low last quarter while inflation jumps. Optimism for a soft landing. Michael mckee joins us with the details. Walk us through how painful that dynamic might be for the fed. Slow growth, hot inflation. Michael the problem is that it is no
Meeting in doha on sunday. We have citigroup head of commodities saying we could see a big selloff in crude oil come monday morning if a credible agreement is not reached this weekend. And ed morris will join us live to explain all of that in just a minute. Those big banks are pulling back slightly after rallying this week. Theres another Financial Group moving higher the last couple of weeks. Well tell you what that is and if its sustainable coming up. Apple shares falling just in the last hour on those reports. I think weve got the chart. There it is, down 1. 7 , lowered iphone production in the First Quarter. Why . Well have details on that in a little bit. And after the bell today, investing guru bill miller tells us why hes buying valeant right now. Hes got big expectations for that stock now, doesnt he . Doubling i think he said. Well press him on it. Lets start with oil dropping ahead of that key opeclike meeting this weekend in doha. Jackie deangeles has all of the details. We