abigail: here are the top stories we are following. nearly $17 trillion with of market said to report. will corporate america be able to revive the rally? and tesla troubles in the spotlight after the ev maker cut prices in china. from chief cars to robotaxis. and happy earth day. joining in just a bit further discussion on the meat free food industry.

katie: i am katie greifeld. take a look at markets. a lot of green on the screen. currently into the tune of .5%. higher by about 6% to 7%. a really big week of earnings. currently higher by 1% at this moment because right now there is a lot of enthusiasm heading into a blockbuster week. abigail: more than $16 trillion worth of market cap to report. it will be significant as well. we have a lot of the big tech names reporting which is one

reason why it is so significant. let's take a look at some of the names reporting this week. boeing, meta and alphabet -- there will not be a two week. it is not so pretty. tesla down over the last month alone. news out over the weekend with more price cuts in china. looking at big growth for next quarter. they are looking at a decent game -- gain. these names have really been to a certain degree since -- until

the last few weeks. katie: let's turn to stephanie. joining the onset. great to have you. abigail was just talking and three straight weeks of losses for the s&p 500. we have not seen that in quite a while. the busiest week of earnings. how high are the stakes? >> you have a little bit of a conundrum because rates have gone up quite a bit. we cannot forget that. the average drop is 10% despite 37 of those years, the markets were higher. we have to be used to things like this. 10-year was up.

and expectations for rate hikes or rate cut the ca, rate cuts have come down quite a bit. it requires an adjustment of expectations. the buyer is higher. investors need a good return to get out of that. katie: it is particularly painful. let's talk a little bit about the selloff. you mentioned yields. they have been skyrocketing. do you see that as the driving force of the volatility we are seeing in the equity market? >> 20% geopolitical tensions that we have seen. we have had a little bit of earnings come out and you have this sort of conundrum of expectations from investments

being high. because of the geopolitical issues, there has been more cautiousness. it is tougher for investors to stand and watch. katie: what is going on with rates and how high they are, even if we get strong earnings, is that enough to rescue the rally? >> it is tougher. at the end of the day, they are driven by earnings. i think earnings expectations are still a little high. of course, we can have that, but there may need to be some cost-cutting. that is where the cost-cutting for the economy comes in. we really do get to have the fed cut. the fed wants to cut, but the data has not been supporting that.

katie: you get the sense that -- of that. you have a unique seat at robinhood and you have a unique visibility on what they are doing on the platform. what are they seeing over this three week long selloff? >> we see our customers keeping a part of their money in cash. we offer good rates like a lot of people, but when it comes to investing, we see a lot of our investors adding to things that go down. for example, tesla has been having a rough run and adding to positions. you see things that have been doing a little bit better recently, and they have been cutting those positions. that is different than what long-term investors tend to do.

you had some crypto related stocks rallying. those have been trimmed. but than the other things that have been not working very well, they have been adding to. katie: stick tight for a couple of moments. we will take a look at what is moving underneath the markets. and we have some earnings to talk about. >> let's start with verizon. everyone was looking at the expansion. it was a concern for analysts for white time. they beat analyst estimates in terms of earnings. the ceos of the company is on track to meet financial guidance. it reported earnings-per-share

above what estimates were. a big part of that wireless customers adding is the fact that they simplified their pricing and they like bundles in terms of adding netflix and other services. it was close to half a million, the best in more than a decade for a company, so quite the boost. katie: same goes for snap. what is going on there? questionnaires seeing a great day because there was more progress on that tiktok bill. they are putting a 90% chance that it will pass the senate within days. it is helping meta and snapchat. and the big thing is, there were

25 and 2022 in terms of u.s. consumers and when we look at that number for tiktok -- the competition is years, if tiktok is less prominent. katie: it is merger monday, but we are kind of talking about a breakup. >> we are getting the opposite and we are getting a divergent reaction. it seems like it is not happening. for medical is having a really tough day today and salesforce is the one getting the gains. there were concerns about the deal. pivoting back to growth. they have been trying to improve profitability, so that could be a concern for investors. now we are seeing some relief there. katie: thank you so much. coming up, tesla hits the

brakes. expecting profits to plunge 40% they report smile. kicking off what will be a very busy week in earnings. >> big tech where it is. >> great balance sheets with a lot of cash and very little debt. >> they are still doing very well. >> we still expect this quarter, for many of those companies to lean on earnings growth. >> it will start broadening out. >> you cannot have tech be the only thing that goes well. ? ramping up earnings season, and that will make it a distraction for the market to have a look at what is going on to see whether the valuations are actually supported by the fundamentals. ♪

when you own a small business every second counts. 120 seconds to add the finishing touches. 900 seconds to arrange the displays. if you're short on time for marketing constant contact's powerful tools can help. you can automate email and sms messages so customers get the right message at the right time. save time marketing with constant contact. because all it takes is 30 seconds to make someone's day. get started today at constantcontact.com. helping the small stand tall.

you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future. a future where you grew a dream into a reality. it's waiting for you. mere minutes away. the future is nothing but power and it's all yours. the all new godaddy airo.

get your business online in minutes with the power of ai. katie: elon musk canceling a trip to india. the company is set to report earnings tomorrow amid an array of issues in fluting price cuts and a sales slump.

ed ludlow has the details. so many places we could go with this, but let's talk about the shift in focus. from producing a cheaper tv, trying to appeal to more people, to robotaxis. how is that potential shift being received? ed: i'm sure it is the biggest call in 24 hours time. he has insisted that the focus be on a robotaxi. my understanding from sources is no, it is not canceled or scrapped, but highly misunderstood. the relation between the two of them is that they cannot do both in parallel. tesla has done a lot.

but how it manifests itself is not some cheap model. they will take that and put it into their existing lineup. they will lower the price on average through that method. katie: tell us what we are expecting to hear about tomorrow. a 40% plunge in operating profit expected. how much is in the price, at this point? ed: the first time there has been straight declines. there is a lot of concern about where the cuts are happening. the mixture of having more sales has boosted the bottom line. we may not even have break even

on some of those. we understand what is happening. give us some clarity on the future. just give us the answers. katie: ed ludlow has been all over this story. but do not go anywhere yet because we are back with stephanie. head of investment strategy. i will not ask you necessarily about tesla. let's talk about what some of the other big earnings that we are expecting this week. meta is towing the line. especially meta. they have been so hot. >> meta has earned quite a bit. instagram has been a big part of the earnings.

i am a little bit concerned about it. valuations are relatively reasonable. i know in 2023, 1 of the largest customers was the chinese company holdings. i do not know if you go on to instagram at all, but i noticed that my temu ads are dropping. they had been looking to diversify their ad revenue base. many analysts love the stock, so i'm just cautious because i think, things that drive markets and stock prices are interest rate. earnings expectations and whether they can be beat. sometimes that is not actually helpful. katie: one of the reasons they have been so good is this year of efficiency. almost up to hundred percent last year.

it has carried over into this year. if there is such a focus on headcount, are they still growing? >> it is certainly possible. if they can grow their ad revenue, absolutely. the thing that passed over the weekend with tiktok might help them, if they end up grabbing some market share. i think expectations are really high. it can get too high for the near term. katie: it is a good point. however it -- i think they need to focus on the creator community because a lot of content comes from tiktok. sentiment is so high.

how much does it extend to the rest of the sector and the broader market? >> it depends on the company. netflix, we saw. i think netflix is looking more attractive, albeit valuations are not extremely attractive. the reaction to the announcement , they hit on every single thing but did not raise guidance. that, to me feels like we can get over that. 40% of their earnings are from advisor new. valuation is not necessarily -- i think it is being undervalued. katie: the reaction has been punishing. does it give you a blueprint for

how we expect things over guidance? >> i think you could see that in the text that there. if so, goodbye. maybe an opportunity for the long-term investor, but you have to be careful and know what you are owning. katie: perfection is the bar. it is not just about tech. a lot of hopes and dreams about a broadened rally. >> one thing i have been thinking about is goods inflation. some issues related to that have

come down. i think that is helpful for more consumer names. kimberly-clark is one that we have sort of like here. it is not overly loved. trading at 12 months earnings. a lot of restructuring internally. it certainly has its own issues. we see consumers slowing down. i actually think that is a company that could be interesting in the more defensive area. overall, we like a mix of defensive and right price. >> bring it back to the start of the conversation, 5% yields on cash right now.

how much is in the portfolio? >> it is dependent on what your own personal reference is. it depends on your preference for risk-taking. i probably have a little more cash than normal. it kind of depends on your time horizon as well. katie: triple leverage cash is the place to be. a great place to leave it there. that is stephanie guild. we will take a look at the companies making the most buzz, up next. this is bloomberg. ♪

thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh but starting it eight months pregnant, that's a different story. with the chase ink card, we got up and running in no time. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card from chase for business.

katie: time for social climbers. a look at the stocks making waves. first up, tencent announcing that it will announce a much anticipated dungeon and fighter mobile game after seven years of development. tencent has been hampered by years of regulatory tightening. next up, the u.k. recently lifted a cap on bonuses. now they are asking shareholders for permission to adjust the pay structure. if the proposal passes, some of the top bankers could see new york style bumper bonuses. and red lobster got it all prawn. an $11 million loss on its

english shrimp deal. they are known for their cheese flavored biscuits and have seen their cash flow laid down by labor costs. you can follow the latest company buzz on your bloomberg terminal. let's get a quick check of the markets at the start of a consequential week. take a look. not as high as it was, but we are looking at a gain of .3%. the nasdaq 100 released trying to stay positive, currently at about .2%. a bunch of your big tech companies take the stage in a few days' time. the philadelphia semiconductor index is also green but we bring about .3%. coming up, we will sink our teeth into the vegetarian food market. andy joins us next.

this is bloomberg. ♪ her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...”

so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for.

katie: looking for ways to go green on earth day? perhaps you can start with your diet. abigail doolittle is here with a look at some plant-based food stocks. abigail: i have to disclose i am a fan of the plant-based food group. the investors are not feeling the same way. if you go back to 2020, there were concerns around food sourcing. we have oatly along with mission . two stocks in particular down more than 95% over this time period. a bit of a reprieve for the other companies. there are concerns as to the

future for plant-based foods. one reason for this, it is clear relative to stocks, i believe there is a strong future. if we look at beyond meat in the financial growth for revenue, this is the story. in 2020, revenues grew nearly 37% and then slowed to 14%, then down 10%, down 18%. for this year, beyond meat has estimated revenue growth to slow by just 4%. if that happens, it may be seen as an inflection point to go back towards growth. the idea, in my mind, is a wonderful one. katie: abigail doolittle, thank you so much. let's keep this conversation going with andy reichgut, dr. praeger's ceo. dr. praeger's makes frozen vegetarian meals. great to see you.

let's start by looking back. dr. praeger's was founded 30 years ago. you think about all of these recent arrivals of competitive products. but 30 years is quite a run. how does the environment look now compared to three decades ago? andy: it was started by two cardiothoracic surgeons who had patients that would not eat the diet they were prescribing, so they decided to start this company to make sure they would get food that was convenient, healthy, but also made the intersection of health and taste so consumers would consume it. 30 years later, we are on the same journey. we have a mission to create food that increases vegetable consumption. very simple. we think vegetables are the silver bullet when it comes to help. what is interesting with what

abigail was talking about with plant-based foods, during covid especially, the interest in food you put in your body accelerated tremendously. now our mission has become twofold. healthier food for people but also for the planet. consumers learned significantly during covid that meat and dairy has a negative impact on our environment. we think it is a great place to be. plant-based foods, defined by the chart abigail was showing, is things we call meat mimic. it is trying to be like a chicken nugget or hamburger. that is a really important segment. it is great for the environment. it is great for animal welfare. but it is well documented why those categories have not grown to the extent everybody was expecting. they are more expensive than the meat analog. a meat mimic burger is more expensive than a hamburger.

also, it did not deliver on the taste consumers were expecting. many people did not view it as really healthy. i personally believe it is healthier than eating meat. dr. praeger's focuses on veg forward products. there is no doubt how healthy they are. when you increase your consumption of vegetables, you are doing a great thing for your body and the planet. katie: you are drawing a distinct and between veggie burgers and those trying to taste like a hamburger. andy: yes, in our category, we play in the plant-based burger category. it is comprised of two segments. you have the meat mimic products. you saw the chart how much they are declining. pre-covid, those categories are still up. they grew massively. everybody was curious how you can turn a leaf into a cheeseburger. everybody tried it. a lot of people stayed. a lot of people did it as a novelty.

the second category is veggie forward products. those types of products are growing. we are gaining massive share. retailers are giving shelf space to the veggie forward once. it is very simple. everybody knows vegetables are healthy for you. it is about 25% less expensive than a meat mimic burger and significantly less expensive than a regular burger. they taste amazing. we do not have to convince people eating a veggie rich burger is good for you. we have to convince people they taste great. that is the journey we are on. katie: i have heard that before, that vegetables are good for you. you mentioned you are gaining share in your category. i am wondering whether that is just the size of the pie crowing -- growing or if you are active take the -- actively taking

share from competitors. andy: we would all love to see the category grow. the category is up. there is still massive growth in the category. we are gaining share simply because we hit all of the sweet spots for the consumer. healthy, taste amazing, good value to the consumer, and a brand they have known and trust for 30 years mx. it easy for us -- makes it easy for us. katie: the is shrinking. could consolidation be in the future? would you ever look to buy one of your struggling competitors? andy: we are always open to ways to help the category. we are a mission driven category to increase vegetable consumption. whatever helps with that. i will give you a great example of what we are doing. last august, we launched a line of crunching veggie burgers. the people who are not participating in the category, we did research and found the

number one to satisfy her -- dissatisfyer was texture. we took the cauliflower burger and breaded it. if you put it in the air fire or oven, you get a super crunchy experience. we are seeing it taking a lot of share away from chicken patties and those types of products. it is an amazing product. it is actually growing the category. we focus on innovation that is not about stealing share from competitors but getting new consumers into the category. we have a line of products called littles. our research shows the number one consumer stressor when the parent of a young child walks into a grocery store is, how do i get them to like vegetables? we have a line of littles out for many years that are simply broccoli or sweet potato or spinach put into fun spate -- shapes, but they are a veggie

forward type of snack. that product is doing extraordinarily well. since 2017, we have been growing over 20%. we have consumers now that we are 30 who are telling us they grew up eating dr. praeger's and now they are introducing it to their kids through littles. katie: you put something in the shape of a dinosaur, and it is much more fun to eat. it is interesting to hear that is working for you as well. i'm curious. given the chart abigail showed, you look at the stocks in this category. beyond meat, for example, the way they have plummeted since 2020. are you thinking about an ipo? andy: right now, we are focused on exactly what i said. increasing vegetable consumption. the best way to do that is the path we will take. we still have a long runway to get how are -- our helpful

penetration where we are delivering on our mission. we are surgically focused on that. katie: really interesting perspective. our thanks to andy reichgut, ceo of dr. praeger's. let's get a check on the markets. abigail doolittle is back with more. abigail: we have had a reprieve for stocks. potentially the first update for the s&p in seven days. look at the last seven days. dip buyers have disappeared. stocks start higher and reversed lower, speaking to confusion and likened -- lack of conviction on the part of investors. here it is off the highs. let's check exactly where the s&p 500 is trading intraday. i believe it is still a little higher. if we look at the nasdaq 100 chart, we are going to see concern for investors and pain

we have seen. we have this massive range for the nasdaq 100 telling you that the buyers and sellers are very reliable. the buyers got enthusiastic at the beginning of this year as the nasdaq 100 broke out of the range. we pointed out the uptrend was broken. you can now see the nasdaq 100 close to going back down as we have an oversold rsi which can become more oversold. it suggests the sellers are still on the hunt despite what is happening today with a bounce. has four big tech companies, earlier -- as for big tech companies, the growth for estimates, meta, this is stunning. it almost reminds you of the golden date expected. abigail 34%.

microsoft decent relative to the single digits for many quarters for a lot of big tech companies at 16.1%. take a look at tesla. the stock is down more than 40% on the year. earnings are expected to decline by 29%. we have news coming out the company has decided to disband a newly created marketing unit for the purposes of ads. now that unit is no longer around. tesla deeply and cost-cutting mode. we will be waiting for more on that on tomorrow's earnings call. katie: abigail doolittle, thank you so much. regulation for stablecoin is getting a fresh push in congress. it may not be enough to address national security concerns. tim massad joins us next. this is bloomberg. ♪

how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.

abigail: this is bloomberg markets. i am abigail doolittle. your looking at a live shot of the principal room. that is coming up at 12:00 eastern and 5:00 london. this is bloomberg. ♪ katie: it is time for our daily "wall street week" conversation. the senate banking committee is looking at ways of advancing stablecoin legislation that would mandate 121 reserves -- one to one reserves. national security concerns remain. tim massad joins us with david west and. stablecoins are a hot topic. david: it is great to have you back. we have talked about stablecoins

and the risks. you have another concern you have written about. tell us about the possible national security implications of stablecoins. tim: the issue is stablecoins can be transferred without going through banks, u.s. banks in particular. they are transferred on permission less blockchains. it is the role of u.s. banks in the global financial system that has given us the leverage to apply financial sanctions as a tool of foreign policy. you can debate when and where we should be using sanctions. but if we want to have that in our toolkit, it is important to think about the implications of stablecoins. it is important to address how they are transferred and figure out ways to make sure illicit activity is not happening. we saw a recent report russian smugglers were using tether to finance weapons purchases. there have been concerns hamas

was using stablecoins to fund its activities. the market is still small. but it is important that we act now. that may mean coming up with different approaches than we have traditionally used with banks and other financial to media raise. -- financial intermediaries. katie: what should regulation look like? when it comes to some of those examples, particularly russia, i would imagine that bumps stablecoin regulation higher on the priority list. tim: right. one good thing about blockchains is there is a record. you can always see how things were transferred. that is useful after the fact. we need to be figuring out ways in real time to figure out -- which of these things are not used for illicit activity. that means requiring stablecoin

issuers not only to apply the anti-money laundering actions banks to but also to engage in active monitoring of what is going on with their stablecoins to have the ability and willingness to freeze stablecoins if they identify a suspicious wallet or activity, they can freeze those stablecoins and prevent them from being used. that is one solution also. and also, looking at what we call decentralized digital identity solutions so that transactions with stablecoins cannot even be made if someone's identity has not been verified in advance. that technology is new. it may not be ready for market yet. but that is the kind of thing we need to be thinking about. david: assuming the u.s. did implement legislation to do this, we have the leverage over the issuers of stablecoins we

would need? you compared stablecoins to euro-dollars. sooner or later, it had to go through the u.s. payment system. does it have power over the issuers of stablecoins? tim: it does. i'm talking about stablecoins based on the u.s. dollar. those have to have access at some point to the u.s. financial system. if people thought that tether ultimately cannot be converted into u.s. dollars because tether was completely blocked out of the u.s. financial system, tether would not have the value of $1. so, we do have that ultimate leverage. we just have to think about how to use it. the comparison i make with euro-dollars is euro-dollars started out small. u.s. regulators were concerned but ignored the market because it was small.

they grew from unexpected events. it turned out well because they help cement the role of the dollar. we cannot expect that necessarily with stablecoins. katie: we are talking about dollar-backed stablecoins. when it comes to talking about legislation and what that might look like, should there be a distinction drawn? tim: absolutely. i think the algorithmic ones are far more dangerous. the legislative issues we have seen are focused on the dollar-backed ones. there are a lot of good measures on the gillibrand proposal as well as the mchenry proposal in terms of requirements. we need to remember other countries are creating these frameworks and you could have dollar-backed stablecoins issued under other countries' frameworks. that is why it is important for

the u.s. to move forward. we do not just want to stumble into this digital future. we want to figure out what we need to do to take full advantage of the digital future in finance and also make it fair. things like payments, for those of us who have credit cards and mobile banking, they seem to work pretty well. but our system costs more and is slower than what it could be. that hurts low income people in particular. david: you mentioned a couple pieces of legislation pending on capitol hill. are they listening to you? is there any prospect of having some of what you are suggesting introduced? his house more about consumer protection -- it sounds more about consumer protection. tim: i think others on capitol hill have introduced a measure. that would basically try to

impose the framework we have for traditional intermediaries on a lot of crypto actors. i am not sure that is the best way to go. i think they are raising the right concerns. more people are waking up to the importance of this. katie: really enjoyed this conversation. our thanks to tim massad. david, who else do we have coming up this week? david: tomorrow, we will talk to the president of the asian infrastructure bank about the world imf meetings and what they are doing to bring public and private money together to address infrastructure challenges throughout the world. that is coming up tomorrow. katie: looking forward to that conversation. thank you so much. this is bloomberg. ♪

o coming in.. big orders!s starting a business is never easy,

but starting it eight months pregnant.. that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs. the chase ink card made it easy. when you go for something big like this, your kids see that. and they believe they can do the same. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card from chase for business. make more of what's yours.

katie: let's take a quick look at some stocks hitting lows on this monday morning. we start with tesla hitting a 52-week low. the company slashing a newly formed marketing team as part of companywide layoffs. that news just crossing. these cuts signal a pullback from the advertising initiative. tesla reports tomorrow. shares down about 4.6% at the moment, adding to what has been a rocky here for tesla. you also have on semi hitting lows. currently, shares off by about 2%. as we have been mentioning all show, it is a consequential week for corporate america with nearly $17 trillion in s&p

market cap reporting this week ahead of what will be a very big week. the s&p 500 is still green but just so. we had been about .5% higher earlier in the session. you can see gains slipping a little bit. that follows three straight weeks of losses. we have not seen that since september of 2023. take a look at the nasdaq 100. i'm going to call it unchanged. sentiment clearly souring as trading gets underway on this monday ahead of tesla's earnings tomorrow. other tech giants take the stage including the likes of meta. "bloomberg technology" is coming up next. that does it for "bloomberg markets." i am katie greifeld and this is bloomberg. ♪

announcer: from the heart of where money, and innovation collide in silicon value, this is "bloomberg technology" with caroline hyde and ed ludlow. caroline: i am caroline hyde in new york. ed: i am ed ludlow in san francisco. this is "bloomberg technology." caroline: legislation clears the house and heads to the senate. tiktok prepares to take it to the courts. we will have full coverage ahead. ed: plus, we take a deep dive into tesla as elon musk shifts the company's focus. we are bringing you findings. caroline: