WEBVTT - Bloomberg Daybreak: June 9, 2022 - Hour 1 (Radio) 0:00:04.920 --> 0:00:09.399 Broadcasting live from the Bloomberg Interactive Broker Studio in New York, 0:00:09.560 --> 0:00:14.240 Bloomberg E living three to Washington, d C. Bloomberg to Boston, 0:00:14.320 --> 0:00:17.520 Bloomberg one, O six one to San Francisco Bloomberg and 0:00:17.520 --> 0:00:20.880 non sixty to the country Sirius XM Chado one nineteen 0:00:21.000 --> 0:00:24.160 and around the globe the Bloomberg Business app in Bloomberg 0:00:24.239 --> 0:00:33.960 Radio dot com. This is Bloomberg Daybreak. It's five thirty 0:00:34.000 --> 0:00:36.360 on Wall Street. Good morning. I'm Nathan Hagar and I'm 0:00:36.400 --> 0:00:39.360 Karen Moscow. We are just about four hours away from 0:00:39.360 --> 0:00:41.159 the open of US trading. Let's get you up to 0:00:41.240 --> 0:00:42.960 date on the news you need to know at this hour. 0:00:43.080 --> 0:00:46.680 Traders awaiting a policy decision from the European Central Bank. 0:00:46.720 --> 0:00:49.319 We had a preview from Bloomberg's James Wilcock in our 0:00:49.400 --> 0:00:53.040 London bureau. Options. Price Think suggests that traders haven't been 0:00:53.120 --> 0:00:57.040 this jittree about an ECP rate decision since the Central 0:00:57.080 --> 0:00:59.160 Brank is set to enquie and sets out the path 0:00:59.320 --> 0:01:02.240 with its first hikes eleven when it meets today. But 0:01:02.320 --> 0:01:05.000 what traders really want to know is President Christine the 0:01:05.000 --> 0:01:07.959 God would back fifty basis point hikes in the future 0:01:08.200 --> 0:01:11.240 as the Aurozone faces inflation accelerating at a record pace, 0:01:11.640 --> 0:01:14.600 and Bloombergs James Wilcox says the ECB decision will come 0:01:14.600 --> 0:01:18.080 down at am Wall Street time, well ahead of that, Karen. 0:01:18.160 --> 0:01:21.120 Stocks in Europe are lower, oil is hovering around a 0:01:21.160 --> 0:01:25.120 hundred twenty two dollars of barrel, and gasoline prices continue 0:01:25.240 --> 0:01:28.520 their record surge. We get the latest live at Bloomberg's 0:01:28.600 --> 0:01:32.000 John Tucker, John and Nathan. Gasoline prices have now top 0:01:32.080 --> 0:01:36.400 five dollars a gallon in sixteen states. Gas prices aren't 0:01:36.440 --> 0:01:40.319 likely to drop anytime soon. Increased oil demand continues to 0:01:40.360 --> 0:01:44.399 outpace the global supply. Gasoline inventories were at the lowest 0:01:44.440 --> 0:01:47.440 seasonal level in about eight years. That's according to the 0:01:47.600 --> 0:01:51.440 Energy Information Administration. It's all part of the overall inflation 0:01:51.480 --> 0:01:54.040 picture that continues to be a top focus of the 0:01:54.040 --> 0:01:59.920 White House and President Biden. Inflation is the is the 0:02:00.400 --> 0:02:03.120 is the vein of our existence? Or the President making 0:02:03.160 --> 0:02:05.880 the comments in an interview with ABC Late Night host 0:02:06.000 --> 0:02:09.639 Jimmy Kimmel live in New York, I'm John Tucker, Bloomberg Daybreak. 0:02:09.880 --> 0:02:11.920 All right, John, thank you about gasoline prices of now 0:02:11.960 --> 0:02:15.280 top five dollars a gallon and sixteen states gas prices 0:02:15.320 --> 0:02:18.520 are not likely to drop anytime soon. Increased oil demand 0:02:18.560 --> 0:02:22.160 continues to outpage the global supply. Gasoline inventories are at 0:02:22.160 --> 0:02:24.800 the lowest seasonal level in eight years, according to Energy 0:02:24.840 --> 0:02:28.480 Information Administration. Data is part of the overhaul inflation picture 0:02:28.560 --> 0:02:30.800 that continues to be a tough focus of the White 0:02:30.800 --> 0:02:34.359 House and President Biden. All right, Karen, thank you well. 0:02:34.360 --> 0:02:36.920 Shares of Tesla right now are up nearly three percent. 0:02:37.000 --> 0:02:40.160 Production in China more than tripled last month, despite the 0:02:40.200 --> 0:02:44.120 electric carmaker only recently getting its Shanghai factory back up 0:02:44.160 --> 0:02:48.480 to speed. And the transformation of Facebook continues. The company, 0:02:48.520 --> 0:02:51.320 which changed its name to Meta Platforms last year, will 0:02:51.360 --> 0:02:56.400 now trade under the ticker ticker Meta instead of f V. Karen, 0:02:57.320 --> 0:03:00.399 all right, Nathan, thank you. And futures this more our 0:03:00.520 --> 0:03:04.240 higher SMP futures up about fourteen points and down futures 0:03:04.280 --> 0:03:08.000 are up ninety NASDAK futures up fifty. Straight to hand 0:03:08.000 --> 0:03:11.440 your latest local headlines plus the check of sports, and 0:03:11.680 --> 0:03:19.440 this is Bloomberg. All right, Karen, thanks, It's five thirty 0:03:19.480 --> 0:03:21.920 three on wall streets still reigning still sixty nine degrees 0:03:22.080 --> 0:03:25.120 in Central Park and still slippery out there. The latest 0:03:25.120 --> 0:03:29.560 crash southbound Garden State Parkway by one. More coming up 0:03:29.560 --> 0:03:31.640 in traffic first, Michael Barr with more on what's going 0:03:31.680 --> 0:03:33.560 on in New York and around the world. Michael, thank 0:03:33.600 --> 0:03:35.600 you very much, Nathan. The House passed a package of 0:03:35.640 --> 0:03:38.400 gun to legislation, including raising them in a mage to 0:03:38.880 --> 0:03:42.760 buy a semi automatic rifle from eighteen one. Before the vote, 0:03:42.760 --> 0:03:45.960 Democratic Representative Mike Thompson's spoke in favor of the measure. 0:03:46.320 --> 0:03:49.600 Raising the age to buy an assault weapon saves lives. 0:03:49.920 --> 0:03:54.000 Limiting magazine capacity will limit the carnage of mauth shootings, 0:03:54.040 --> 0:03:58.240 and it saves lives. Going after traffickers, keeps guns out 0:03:58.280 --> 0:04:00.720 of the hands of people who shouldn't have them, and 0:04:00.800 --> 0:04:05.360 it saves lives. However, Republican Congressman James Cohmer disagrees with Thompson. 0:04:05.800 --> 0:04:09.040 We have people in the military, uh using weapons when 0:04:09.040 --> 0:04:12.160 they're eighteen and and uh, I mean that's good enough 0:04:12.200 --> 0:04:13.960 for a military anything that's a that's the way to 0:04:14.120 --> 0:04:16.800 be for law alading Central Comer was among the two 0:04:16.839 --> 0:04:20.479 hundred four Republicans who voted against the bill. Meanwhile, New 0:04:20.560 --> 0:04:23.640 York Mayor Eric Adams testified before our House Committee on 0:04:23.680 --> 0:04:27.120 Oversign and Reform on gun violence in Washington. Adams, who 0:04:27.200 --> 0:04:30.560 posted his comments on his Twitter account, says, it is 0:04:30.560 --> 0:04:33.599 a disgrace that virtually every day brings another bout of 0:04:33.640 --> 0:04:37.000 gun violence. We have facing a crisis that is killing 0:04:37.360 --> 0:04:42.320 more Americans than war. It crisis as now the number 0:04:42.520 --> 0:04:47.560 one cause of death for our young people. Mayor Adams says, 0:04:47.640 --> 0:04:50.640 it is high noon in America. Members of the House 0:04:50.680 --> 0:04:54.000 Committee investigating the events of January six will hold their 0:04:54.040 --> 0:04:56.880 first prime time hearing tonight to share what they have 0:04:56.960 --> 0:05:00.560 uncovered about former President Donald Trump and the dead storming 0:05:00.600 --> 0:05:04.200 of the US capital. Former President Trump, Donald Trump Jr. 0:05:04.279 --> 0:05:07.600 And his daughter Ivanka have agreed to answer questions under 0:05:07.600 --> 0:05:11.080 oath next month in the New York Attorney General's civil 0:05:11.120 --> 0:05:15.920 investigation into his business practices. A Manhattan judge signed off 0:05:16.040 --> 0:05:18.320 on the agreement that calls for the Trump's to give 0:05:18.360 --> 0:05:22.520 depositions starting July. The agreement comes after a series of 0:05:22.560 --> 0:05:25.840 setbacks for Trump's efforts. The block State Attorney General Letitia 0:05:26.000 --> 0:05:29.720 James is three year long investigation. Global News twenty four 0:05:29.720 --> 0:05:32.679 hours a day on here and on Bloomberg Quicktake powered 0:05:32.680 --> 0:05:35.960 by more than journalists and analysts more than a hundred 0:05:35.960 --> 0:05:39.560 twenty countries. I'm Michael Barron. This is Bloomberg. Nathan. Okay, Michael, 0:05:39.560 --> 0:05:47.640 thanks on Wall Street time for the Bloomberg Sports Update 0:05:47.640 --> 0:05:50.160 with John statshop all right, Nathan. Three games into what's 0:05:50.160 --> 0:05:52.919 been a strange NBA Finals, the Warriors have outscored the 0:05:52.920 --> 0:05:55.520 Celtics in the third quarters by a total of forty 0:05:55.600 --> 0:05:58.480 three point than the Celtics have won the fourth by forty. 0:05:58.600 --> 0:06:01.039 There hasn't been a close final score yet. In Boston, 0:06:01.400 --> 0:06:04.440 Celtics jumped in front to nine, then won that fourth 0:06:05.000 --> 0:06:08.040 three to eleven, third fewest points ever scored in the 0:06:08.080 --> 0:06:11.040 final quarter of a Finals game. Boston won six one 0:06:11.120 --> 0:06:13.600 hundred and now have to one in the series. Rangers 0:06:13.600 --> 0:06:16.200 and Lightning tied at two, game five tonight at the Garden. 0:06:16.279 --> 0:06:19.359 Rangers coach Gerard Glenn asked about Tampa Bay's ability to 0:06:19.400 --> 0:06:22.360 prevent the Rangers from scoring. When it's not a power plus, 0:06:22.360 --> 0:06:26.000 nothing that they haven't seen before. You know, they're doing 0:06:26.040 --> 0:06:28.800 different than just it's intense hockey and you gotta get 0:06:28.800 --> 0:06:30.919 ready to play it. And it doesn't seem to bother us. 0:06:31.080 --> 0:06:33.200 We're playing at home, so the last two games was 0:06:33.240 --> 0:06:35.359 as issues, yes, but we got to get better, so 0:06:35.520 --> 0:06:37.880 we will. Rangers have not scored a five on five 0:06:37.920 --> 0:06:39.760 goals since Game two, but they have one eight in 0:06:39.760 --> 0:06:42.880 a row had msg Yankees and Mets both suffered their 0:06:42.920 --> 0:06:45.640 most lopsided losses of the season. The Yanks seven game 0:06:45.680 --> 0:06:48.040 win streak endo at Minnesota eight to one. Yanks had 0:06:48.080 --> 0:06:51.120 just four hits. The Twins Jose Miranda had three, drove 0:06:51.160 --> 0:06:54.240 in three both Nestor Cortez and Clark Schmidt. They've got 0:06:54.240 --> 0:06:56.680 four runs. That's the most allowed this season by Cortez. 0:06:56.680 --> 0:06:59.680 Garrett Cole pitches. Tonight, Mets lost in San Diego thirteen 0:06:59.760 --> 0:07:03.159 to two. So outscored the last two nights two the 0:07:03.200 --> 0:07:05.520 Padres five runs in the fourth and in the four 0:07:05.560 --> 0:07:07.760 more in the fifth. John and I have bet Chris Basset, 0:07:07.839 --> 0:07:09.760 who gave up seven run. Mets are off tonight. They 0:07:09.840 --> 0:07:13.640 visit the Angels tomorrow. The Angels have lost fourteen games 0:07:13.680 --> 0:07:15.720 in a row. Three weeks ago, they were in first place. 0:07:15.760 --> 0:07:18.200 Half of those losses have been by one run. They 0:07:18.240 --> 0:07:20.080 just lost one nothing to the Red Sox and now 0:07:20.120 --> 0:07:24.520 won their last seven. John stash I went Bloomberg Sports. Okay, John, Thanks, 0:07:24.560 --> 0:07:27.560 It is seven on Wall Street. Time now for the 0:07:27.600 --> 0:07:31.440 Tri State Business Report. Here's Bloomberg's Cory. New York City 0:07:31.520 --> 0:07:35.000 is making a comeback. After the US was briefly frozen 0:07:35.040 --> 0:07:37.840 by COVID. People were leaving the city, but now that 0:07:37.920 --> 0:07:41.640 migration out of many neighborhoods has reversed, the city's population 0:07:41.680 --> 0:07:44.840 is still decreasing, but more households are moving into Manhattan 0:07:45.080 --> 0:07:49.800 than we're moving in before the pandemic in Manhattan. Apartment 0:07:49.840 --> 0:07:53.800 rents continued skyrocketing. Last month, the media hit four thousand 0:07:53.880 --> 0:07:56.320 bucks for the first time on record. Rates on new 0:07:56.400 --> 0:08:00.320 leases jumped from a year earlier in all time behind 0:08:00.360 --> 0:08:03.960 in three decades of data keeping. Luxury home developer National 0:08:04.000 --> 0:08:07.600 Realty Investment Advisers has filed from bankruptcy and its home 0:08:07.680 --> 0:08:10.280 state of New Jersey. The Sacacus firm says it was 0:08:10.360 --> 0:08:15.520 under investigation by securities regulators. The filing comes six weeks 0:08:15.560 --> 0:08:19.200 after the firm CEO step down. An independent manager took 0:08:19.240 --> 0:08:22.040 over and found a host of financial issues, according to 0:08:22.120 --> 0:08:25.920 court documents. That's your Bloomberg Dry State Business Report. I'm 0:08:26.040 --> 0:08:29.120 ed Corey E said. It's eight on Wall Street. Bloomberg 0:08:29.160 --> 0:08:31.440 Radio is on the air from San Francisco to New York, 0:08:31.480 --> 0:08:33.840 London to Hong Kong. Let's check in with our global 0:08:33.840 --> 0:08:35.600 news team for some of the top stories heard on 0:08:35.600 --> 0:08:41.520 our three hundred affiliate radio stations around the world. I'm 0:08:41.600 --> 0:08:45.840 Corney Donaho on ktr H in Houston. Brace Yourself, Spice Lovers, 0:08:45.960 --> 0:08:49.720 the worlds now facing a SACHA shortage. Belim Gina Servettian 0:08:49.840 --> 0:08:53.160 for k CBS and San Francisco. I'm reporting that Apple 0:08:53.280 --> 0:08:56.120 will be handling the lending itself for its new by 0:08:56.240 --> 0:08:59.599 Now Pay Later service als Matteo, and on camel X 0:08:59.679 --> 0:09:02.120 and s Lewis, I'll be reporting on the top car 0:09:02.240 --> 0:09:05.520 colors when it comes to resale. Timid Cory on w 0:09:05.760 --> 0:09:09.520 p AM in Cleveland. I'm reporting Kent State University is 0:09:09.600 --> 0:09:14.000 expanding into Rwanda. And those are some of the stories 0:09:14.000 --> 0:09:17.200 our hundred Bloomberg journalists and analysts are working on this 0:09:17.280 --> 0:09:20.880 morning around the world. It's five thirty nine on Wall Street. 0:09:21.400 --> 0:09:25.199 The following is an editorial from Bloomberg Opinion. The House 0:09:25.240 --> 0:09:28.360 Committee investigating the January sixth attack on the U. S. 0:09:28.400 --> 0:09:31.480 Capitol plans to hold a series of televised hearings about 0:09:31.480 --> 0:09:35.120 its findings starting on Thursday night. Its members should focus 0:09:35.120 --> 0:09:38.840 on presenting the facts, not scoring political points. The facts, 0:09:38.880 --> 0:09:42.679 after all, speak for themselves. Rioters who breached the Capitol 0:09:42.760 --> 0:09:45.320 that day assaulted more than a hundred police officers and 0:09:45.400 --> 0:09:49.000 caused more than thirty million dollars in damages. Prosecutors have 0:09:49.080 --> 0:09:52.400 charged more than eight hundred defendants with crimes related to 0:09:52.400 --> 0:09:56.440 the attack, including counts of seditious conspiracy. With all this 0:09:56.520 --> 0:09:59.640 on record, the committee's goals should be straightforward to lay 0:09:59.640 --> 0:10:03.400 out this learned and explain how to prevent a repeat attack. 0:10:03.720 --> 0:10:07.600 A sober, methodical presentation may not sway many votes, but 0:10:07.640 --> 0:10:10.440 it can still expose the causes of an assault on 0:10:10.520 --> 0:10:14.040 American democracy and perhaps serve as a warning for other 0:10:14.080 --> 0:10:18.640 officials toin with insurrectionary ideas. This editorial was written by 0:10:18.679 --> 0:10:21.679 the Bloomberg Opinion editorial board. I'm David Shipley. For more 0:10:21.720 --> 0:10:24.840 Bloomberg opinion, please go to Bloomberg dot com, slash opinion 0:10:25.040 --> 0:10:28.000 or ope and go on the Bloomberg terminal. This has 0:10:28.080 --> 0:10:31.439 been Bloomberg opinion, and you can hear Bloomberg opinion commentaries 0:10:31.480 --> 0:10:34.400 every weekday. At this time, terminal customers can read more 0:10:34.800 --> 0:10:38.199 at O P I n GO SMP future is now 0:10:38.200 --> 0:10:40.600 at fifteen points. Staff futures up a hundred five dance 0:10:40.640 --> 0:10:45.120 stack features higher by fifty seven points. European stocks moving 0:10:45.160 --> 0:10:48.000 a little bit lower out of an ECB decision, with 0:10:48.120 --> 0:10:51.199 the European Central Bank getting ready to lay out a 0:10:51.240 --> 0:10:56.080 timetable for reining in inflation. Thoughts on these price pressures. Next, 0:10:56.120 --> 0:10:59.640 from the CEO of Amazon Andy Jassy, This is Bloomberg 0:11:02.320 --> 0:11:05.560 Bloomberg eleven three oh weather, rain right now clearing this afternoon, 0:11:05.640 --> 0:11:07.560 up for seventies for highs. We'll get up to near 0:11:07.600 --> 0:11:11.679 eighty under mostly sunny sky Tomorrow, Moore showers possible Saturday. 0:11:11.880 --> 0:11:19.040 Currently sixty nine degrees in Central Park five oh seven 0:11:19.040 --> 0:11:22.880 on Wall Street rain and sixty nine degrees in Central Park, 0:11:22.960 --> 0:11:25.160 slippery roads. Already dealing with the crash of the New 0:11:25.240 --> 0:11:27.040 York State through a south found New York's in ten 0:11:27.160 --> 0:11:30.040 details coming up in traffic First, Michael Barr with more 0:11:30.080 --> 0:11:32.160 on what's going on in New York and around the world. 0:11:32.240 --> 0:11:35.920 Staying dry, Michael, I'm trying to, I hope, so, thank 0:11:35.960 --> 0:11:38.120 you very much. Nathan. The House passed a package of 0:11:38.160 --> 0:11:41.520 gun the legislation Bloomberg said, Baxter reports, it's called the 0:11:41.600 --> 0:11:44.560 Protecting Our Kids Act. It includes raising the age limit 0:11:44.640 --> 0:11:48.520 for purchasing some kinds of automatic weapons, prevents gun trafficking, 0:11:48.520 --> 0:11:52.040 and address the safe storage. The arguments remained about the same. 0:11:52.080 --> 0:11:54.800 Republican Steve Scalise, all we see as a rush to 0:11:54.880 --> 0:11:57.760 go take away the rights of law binding citizens to 0:11:57.800 --> 0:12:02.160 have guns. Democrat Katie Porter. Shootings involving assault weapons are 0:12:02.360 --> 0:12:07.440 six times as deadly as shootings involving handguns. The true 0:12:07.440 --> 0:12:10.040 test comes in the Senate thal where passage is still 0:12:10.080 --> 0:12:13.880 considered an uphill battle. In San Francisco, I'm at back stair, 0:12:13.920 --> 0:12:17.480 Bloomberg Gay Break. Meanwhile, New York Mayor Eric Adams testified 0:12:17.520 --> 0:12:20.160 before our House Committee on Oversight and Reform on gun 0:12:20.280 --> 0:12:23.720 violence in Washington. Adams, who posted his comments on his 0:12:23.800 --> 0:12:27.000 Twitter account, says, it is a disgrace that virtually every 0:12:27.120 --> 0:12:30.319 day brings another bout of gun violence. It is high 0:12:30.559 --> 0:12:34.280 noon in America. Time for every one of us to 0:12:34.440 --> 0:12:38.040 decide where we stand on the issue of gun violence. 0:12:38.360 --> 0:12:42.400 Time to decide if it's more important to protect the 0:12:42.440 --> 0:12:46.760 profits of gun manufacturers or the lives about children. Mayor 0:12:46.800 --> 0:12:49.320 Adams says, we are facing a crisis that is killing 0:12:49.320 --> 0:12:53.120 more Americans than more. President Biden is kicking off his 0:12:53.200 --> 0:12:56.080 first full day at the Summit of the America's and 0:12:56.160 --> 0:12:59.439 Los Angeles, which brings together leaders from across the hemisphere 0:12:59.480 --> 0:13:02.720 every few years. Biden is working toward new agreements on 0:13:02.760 --> 0:13:06.240 economic development, climate change, and migration. We need to break 0:13:06.280 --> 0:13:10.319 the cycle where marginalized communities are hit the hardest by 0:13:10.400 --> 0:13:14.520 disasters and have the fewest resources to recover from crises 0:13:14.960 --> 0:13:18.640 and prepare for the next one. Also yesterday, President Biden 0:13:18.679 --> 0:13:21.440 made an appearance on ABC's Jimmy Kimmel Live, where he 0:13:21.480 --> 0:13:25.320 talked about gun reform and inflation. Inflation is mostly in 0:13:25.480 --> 0:13:31.240 food and in gasoline. At the phone, Biden called inflation 0:13:31.280 --> 0:13:34.280 the bane of our existence. Manhattan and broken. The rents 0:13:34.280 --> 0:13:38.319 continued skyrocketing last month, with the media hitting four thousand 0:13:38.440 --> 0:13:41.520 dollars for the first time on record. According to Miller 0:13:41.559 --> 0:13:45.640 Samuel and brokerage Douglas Element Real Estate Global News twenty 0:13:45.640 --> 0:13:48.400 four hours a day on air and on Bloomberg Quicktake, 0:13:48.600 --> 0:13:51.440 powered by more than the hundred journalists and analysts more 0:13:51.480 --> 0:13:54.600 than a hundred twenty countries. Michael barn this is Bloomberg 0:13:54.679 --> 0:14:01.600 Nathan Alright, Michael, thank you, coming up to five ten 0:14:01.640 --> 0:14:03.960 on them all Street time for the Bloomberg Sports Updateken Morning, 0:14:04.000 --> 0:14:06.960 John Stry Morning, Nathan. Yankees and Mets two best records 0:14:06.960 --> 0:14:10.240 in baseball. They can be forgiven for both suffering lopsided 0:14:10.320 --> 0:14:12.320 losses on the road against good teams. They lost by 0:14:12.320 --> 0:14:15.679 a combined twenty one to three for both their worst 0:14:15.679 --> 0:14:17.599 losses of the season for the Yankees and eight to 0:14:17.720 --> 0:14:20.320 one defeat at Minnesota. The Twins score twice in four 0:14:20.360 --> 0:14:22.600 straight hitting. He's got home runs from Brian Buston and 0:14:22.680 --> 0:14:25.360 Brian Jeffers. Nestor Cortezer came into an e r a 0:14:25.440 --> 0:14:27.280 of one and a half, gave up four runs, suffered 0:14:27.320 --> 0:14:29.440 his first loss in more than a month. The Mets, 0:14:29.480 --> 0:14:32.680 who lost seven nothing on Tuesday, lost thirteen to two 0:14:32.680 --> 0:14:35.720 in San Diego. The Padres were roughed up Chris Bassett. 0:14:35.800 --> 0:14:37.520 Jake coroner Worth a three run home and he drove 0:14:37.520 --> 0:14:40.160 in five. The Mets room without Pete Alonso and Sterling 0:14:40.240 --> 0:14:43.520 Marte both left Tuesday's game with wrist and quad injuries. 0:14:43.520 --> 0:14:46.360 Both are day to day. NBA Finals Game three in Boston, 0:14:46.360 --> 0:14:49.000 the Celtics beat the Warriors one sixteen to one hundred 0:14:49.040 --> 0:14:50.720 to go up to one. The Celtics are now seven 0:14:50.760 --> 0:14:54.240 and oh in these playoffs after losses Game four tomorrow, 0:14:54.280 --> 0:14:56.720 Game five tonight at the Garden with the Rangers of 0:14:56.760 --> 0:14:59.080 one eight in a row, look to keep that going, 0:14:59.240 --> 0:15:01.560 regain the lead over Tampa Bay and at East Finals 0:15:01.560 --> 0:15:04.480 that are now tied to In London today the first 0:15:04.560 --> 0:15:07.800 ever round of the new Live Golf Tour, financially backed 0:15:07.800 --> 0:15:11.480 by Saudi Arabian interests. There's still Nicholson. I don't condone 0:15:11.600 --> 0:15:13.880 human rights violations. I don't know how I can be 0:15:13.960 --> 0:15:22.040 anymore player. I understand your question, um, but again, I 0:15:22.120 --> 0:15:24.240 love this game of golf. I've seen the good that 0:15:24.280 --> 0:15:28.520 it's done, and I see the opportunity for live golf 0:15:28.560 --> 0:15:31.360 too do a lot of good for the game throughout 0:15:31.360 --> 0:15:33.040 the world, and I'm excited to be about a part 0:15:33.040 --> 0:15:35.320 of this opportunity. Nicholson says he's earned the right to 0:15:35.360 --> 0:15:38.200 have a lifetime exemption that could also play the PGA Tour. 0:15:38.280 --> 0:15:40.480 Says will be in Boston next week for the US Open. 0:15:40.760 --> 0:15:44.160 John stash Were Bloomberg Sports, Thank you, John SMP futures 0:15:44.200 --> 0:15:46.640 up fifteen points, Staff futures up a hundred five dance 0:15:46.720 --> 0:15:50.040 that futures up fifty five points. The euro little changed 0:15:50.080 --> 0:15:52.400 against the dollar, training at one point zero seven one 0:15:52.480 --> 0:15:55.800 six ahead of an ECB policy decision. We preview it 0:15:55.840 --> 0:15:59.240 next to Simon French of Pan your Gordon, this is 0:15:59.280 --> 0:16:04.720 Bloomberg Bloomberg eleven three or whether this rain should clear 0:16:04.720 --> 0:16:06.720 out this afternoon We'll get up to near eighty degrees, 0:16:06.760 --> 0:16:10.960 mostly sunny, near eighty tomorrow, more showers possible. Saturday is 0:16:11.000 --> 0:16:17.600 then in the low seventies currently rain in sixty nine degrees. Markets, 0:16:17.680 --> 0:16:20.760 headlines and breaking news twenty four hours a day at 0:16:20.760 --> 0:16:25.480 Bloomberg dot Com, the Bloomberg Business Outland at Bloomberg Quicktape's 0:16:25.480 --> 0:16:35.160 a Bloomberg Business Clash and I'm Karen. Moscow and European 0:16:35.280 --> 0:16:38.880 equities are slipping this morning ahead of an ECB decision 0:16:38.920 --> 0:16:41.320 that will put the region's monetary policy on a path 0:16:41.360 --> 0:16:44.480 of tightening and help close the gap with global piers mean, 0:16:44.480 --> 0:16:47.760 while US stock indext futures are on the rise and 0:16:47.840 --> 0:16:50.120 we checked the markets every fifteen minutes throughout the trading 0:16:50.200 --> 0:16:53.000 day on Bloomberg, Guess and P futures are up fourteen 0:16:53.080 --> 0:16:57.280 points down futures up Nasdack futures up fifty three. The 0:16:57.400 --> 0:17:00.280 decks in Germany's down half per cent to in your 0:17:00.280 --> 0:17:03.160 treasury up three thirty seconds, he'll three point one percent. 0:17:03.200 --> 0:17:05.840 The yield on the two year two point seven seven percent. 0:17:06.280 --> 0:17:08.560 Nimex scrude oil is up tenth of a percent or 0:17:08.560 --> 0:17:10.920 eleven cents at a hundred twenty two dollars, twenty cents 0:17:10.920 --> 0:17:13.400 in barrel, comex schooled at a quarter percent or four 0:17:13.440 --> 0:17:16.159 dollars fifty cents at eighteen fifty two and ounce the 0:17:16.240 --> 0:17:18.760 euro one point oh seven one four against the dollar 0:17:18.840 --> 0:17:21.040 British found one point to five one nine and the 0:17:21.160 --> 0:17:24.280 end one thirty three point five too. And looking at bitcoin, 0:17:24.320 --> 0:17:26.680 it's up about one percent at thirty thousand and five 0:17:26.760 --> 0:17:29.399 hundred dollars. Today we are watching for the weekly report 0:17:29.440 --> 0:17:32.080 and initial jobless claims had to eat thirty Wall Street time, 0:17:32.320 --> 0:17:34.800 and that's a Bloomberg business flash. Now here's Muchael Barr 0:17:34.920 --> 0:17:37.040 with more on what's going on around the world. Michael, 0:17:37.080 --> 0:17:39.720 good morning, Good morning, Karen. After a day of emotional 0:17:39.760 --> 0:17:43.280 testimony on the Capitol Hill from families and survivors shattered 0:17:43.280 --> 0:17:46.919 by gun violence, the House passed a sweeping gun control 0:17:46.960 --> 0:17:49.800 package late last night. However, the measure is facing a 0:17:49.880 --> 0:17:52.960 roadblock in the Senate. The House of lut committee investigating 0:17:52.960 --> 0:17:56.600 the deadly January sixth Capitol attack will present its material 0:17:56.680 --> 0:17:59.720 for the first time in prime time tonight. In the 0:17:59.840 --> 0:18:03.320 end be A Finals, the Celtics beat the Warriors one sixteen, 0:18:03.480 --> 0:18:05.960 one hundred to take a two games to one lead 0:18:06.000 --> 0:18:09.240 in the series. In baseball, the Yankees and Mets lost, 0:18:09.320 --> 0:18:12.480 along with the Nationals and A's Red Sox and Giants. 0:18:12.520 --> 0:18:15.280 One Global Names twenty four hours a day on air 0:18:15.400 --> 0:18:18.760 and on Bloomberg Quicktake, powered by more than twenty seven 0:18:18.960 --> 0:18:21.680 the journalists and analysts more than a hundred twenty countries. 0:18:22.040 --> 0:18:25.280 Michael Barren, this is Bloomberg, Nathan alright, Michael, thank you. 0:18:25.320 --> 0:18:27.639 It is five nineteen on Wall Street Live from the 0:18:27.680 --> 0:18:31.840 Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak, and five 0:18:31.960 --> 0:18:35.000 nineteen means we are about two hours and twenty six 0:18:35.080 --> 0:18:38.280 minutes away from A decision from the European Central Bank 0:18:38.720 --> 0:18:41.000 is expected to set the stage for the first interest 0:18:41.119 --> 0:18:43.879 rate heights in the Eurozone in more than a decade, 0:18:44.040 --> 0:18:47.440 as the As Europe continues to deal with the inflation 0:18:47.480 --> 0:18:49.680 the likes of which it has never seen. For more, 0:18:49.720 --> 0:18:52.680 we are joined this morning by Simon, French Chief Economists 0:18:52.680 --> 0:18:55.520 to Pandra Gordon. Simon, it's always great to speak with you. 0:18:55.600 --> 0:18:59.520 What is the ECB? What will President Christine Legard's signal today? 0:19:00.040 --> 0:19:03.120 M Yeah, good morning, Nason aloys. Pleasure to talk to you. 0:19:03.560 --> 0:19:07.000 So what we have is the last I think moment 0:19:07.119 --> 0:19:11.480 from the ECB Governing Council to prepare markets for um 0:19:11.680 --> 0:19:14.720 interest rate increases, as you say, the first time since 0:19:14.760 --> 0:19:17.080 twenty eleven. That would be the case in the Eurozone, 0:19:17.080 --> 0:19:20.200 but they really have a little choice with inflation running 0:19:20.200 --> 0:19:22.919 it now north of eight percent across the Eurozone. In 0:19:22.960 --> 0:19:24.879 terms of what to expect today, I think there are 0:19:24.880 --> 0:19:29.080 two things to look out for. One flexibility. How much 0:19:29.119 --> 0:19:32.879 will Christie mcgarden the Governing Council try and emphasize to 0:19:33.000 --> 0:19:36.840 markets that if peripheral spreads in countries like Italy and Greece, 0:19:36.960 --> 0:19:41.120 those spreads blowout versus German buns. What ability will the 0:19:41.160 --> 0:19:45.960 ECB have to act to address that? And secondly, we've 0:19:45.960 --> 0:19:48.840 seen fifty basis points moves from other central banks around 0:19:48.880 --> 0:19:53.679 the world, in Australia and Canada. In the US, I 0:19:53.720 --> 0:19:56.560 think the ECB is going to take a more gradual path, 0:19:57.080 --> 0:19:59.760 but there is some speculation there about fifty basis points 0:19:59.800 --> 0:20:03.040 in I think they will have to address those head on. Yeah, yeah, 0:20:03.160 --> 0:20:05.439 you were lead right into it, the speculation that is 0:20:05.480 --> 0:20:08.119 going on in the markets. But whether the ECB is 0:20:08.119 --> 0:20:10.240 going to signal a twenty five basis point move or 0:20:10.240 --> 0:20:14.360 a fifty basis point move. Are you expecting more clarity 0:20:14.440 --> 0:20:18.600 there on where the ECB stands, given that central banks, 0:20:18.640 --> 0:20:24.120 as you mentioned, have been going aggressive ahead of this decision. Yes, so, 0:20:24.200 --> 0:20:28.320 I think Chief Economists Philip Laine has talked about twenty 0:20:28.359 --> 0:20:32.240 five basis point increments in recent weeks, so certainly trying 0:20:32.280 --> 0:20:36.560 to reinforce the expectations of twenty five other than fifty um, 0:20:36.600 --> 0:20:39.119 they won't have any think rule out a move of 0:20:39.200 --> 0:20:41.919 fifty basis points. But I think if you look at 0:20:41.960 --> 0:20:45.879 the underlying dynamics of the Eurozone economy, look at core inflation, 0:20:45.960 --> 0:20:49.240 which is still only only but running at four percent, 0:20:49.520 --> 0:20:52.439 so less core pressures than we're seeing in the US 0:20:52.600 --> 0:20:56.240 or the UK. But also the fact that the Eurozone 0:20:56.240 --> 0:20:59.800 imports about sevent of its gross energy needs, so me 0:21:00.080 --> 0:21:03.879 in tern that starts to be deflationary and therefore some 0:21:03.920 --> 0:21:06.480 of the heavy lifting and getting inflation down will come 0:21:06.600 --> 0:21:10.000 from expensive energy imports. I think that is the case 0:21:10.040 --> 0:21:12.680 for why we see a divergence between the pace which, 0:21:13.240 --> 0:21:16.040 for example, the Federal Reserve will go at compared to 0:21:16.040 --> 0:21:17.600 what the e c B is prepared to go at. 0:21:18.160 --> 0:21:19.760 What are you expecting that we're going to get from 0:21:19.760 --> 0:21:22.720 the ECB when it comes to new economic projections. We've 0:21:22.760 --> 0:21:24.520 already heard, as you know, from the O e c 0:21:24.600 --> 0:21:27.879 D and the World Bank they've lowered their outlook for 0:21:27.920 --> 0:21:33.640 the year pretty significantly more than once so far this year. Yeah, 0:21:33.680 --> 0:21:36.280 and I think we will get the same indications from 0:21:36.320 --> 0:21:40.200 the e c B. I don't think these official forecasters 0:21:40.280 --> 0:21:42.520 deviate too much from the script, and for good reasons 0:21:42.560 --> 0:21:46.960 at the moment, given the global headwinds through higher energy costs, 0:21:47.359 --> 0:21:51.480 ongoing supply chain disruptions, particularly out of China, all those 0:21:51.520 --> 0:21:54.040 signs of those assign to ease. I think we're still 0:21:54.040 --> 0:21:59.600 in a official downgrade cycle for growth projections. I don't think, however, 0:22:00.119 --> 0:22:03.560 going to change fundamentally what the market sees is the 0:22:03.680 --> 0:22:08.080 rate path from the ECB. ECB have to respond to 0:22:08.800 --> 0:22:12.800 the risk that what is largely an exogenous trade shark 0:22:13.320 --> 0:22:16.600 starts to build into expectations for price growth, and those 0:22:16.640 --> 0:22:20.920 second order effects kick in and so growth projections although 0:22:21.080 --> 0:22:23.960 going coming down, I don't think you're going to haul 0:22:24.080 --> 0:22:27.320 down rate expectations at this point. Something about a minute 0:22:27.400 --> 0:22:30.240 left here, simon. What is the challenge for the ECB 0:22:30.400 --> 0:22:35.440 given those exogenous reasons for inflation the war in Ukraine particularly, 0:22:35.480 --> 0:22:37.760 does the ECB have the tools it needs to handle 0:22:38.119 --> 0:22:42.240