WEBVTT - Bloomberg Daybreak: August 26, 2022 - Hour 2 (Radio) 0:00:03.040 --> 0:00:06.279 My from the Bloomberg Interactive Burger Studios. This is Bloomberg 0:00:06.360 --> 0:00:09.640 day Break for a Friday, August twenty six two. Coming 0:00:09.680 --> 0:00:12.760 up this hour, FED officials take a hawkish stance ahead 0:00:12.760 --> 0:00:15.880 of j. Powell's Jackson Whole speech. I judge orders Twitter 0:00:15.920 --> 0:00:18.319 to hand more data to Elon Musk. Guess their legal 0:00:18.360 --> 0:00:22.160 battle continues. Dell and salesforce slide as more tech companies 0:00:22.160 --> 0:00:26.040 report tighter times ahead. The first MTA hearing on congestion 0:00:26.079 --> 0:00:28.760 pricing in Manhattan is in the books. Plus we should 0:00:28.800 --> 0:00:32.560 see soon every dacting Affidavid search Trump's maramago with State. 0:00:32.760 --> 0:00:36.040 I'm Michael Barr. More ahead, I'm Stash in sports. Twenty 0:00:36.120 --> 0:00:38.479 hits for the Yankees and easy win at Oakland. JAKEB. 0:00:38.560 --> 0:00:44.560 De Graham pitched the Mets to victory over Colorado. That's 0:00:44.560 --> 0:00:48.480 all strad ahead on Bloomberg day Break on Bloomberg eleven Trio, 0:00:48.560 --> 0:00:52.760 New York, Bloomberg one, Washington, d C, Bloomberg one oh 0:00:52.880 --> 0:00:57.360 six one, Boston, Bloomberg nine sixties and Francisco Sirius XM 0:00:57.400 --> 0:01:00.680 one nineteen and around the world on Bloomberg Radio dot 0:01:00.720 --> 0:01:07.920 Com and via the Bloomberg Business. Actor and good Friday morning. 0:01:07.920 --> 0:01:11.160 I'm Nathan Hagar and I'm Karen Moscow, US not in next. 0:01:11.200 --> 0:01:13.840 Futures are lower this morning. We are coming up to 0:01:13.880 --> 0:01:15.480 six o one on Wall Street, and we check the 0:01:15.480 --> 0:01:18.600 markets every fifteen minutes throughout the trading day. On Bloomberg. 0:01:18.680 --> 0:01:22.279 Right now, SMP futures are down fifteen points down, Future 0:01:22.360 --> 0:01:25.560 is down seventy four and NASDAG futures down seventy. Ten 0:01:25.640 --> 0:01:28.520 year treasury down thirteen thirty seconds. He'll three point oh 0:01:28.520 --> 0:01:31.120 seven percent. They yield on the two year three point 0:01:31.160 --> 0:01:34.160 three eight percent, and NIMEX screwed oil is up one 0:01:34.200 --> 0:01:37.160 point two percent. Nathan Karen, it's the event Wall Street 0:01:37.160 --> 0:01:39.800 and global markets have been awaiting all week. Federal Reserve 0:01:39.880 --> 0:01:42.600 Chairman Jerome Powell delivers his speech at the Jackson Hole 0:01:42.680 --> 0:01:46.759 Economic Symposium. Bloomberg's Tom Keene is covering the event for us. 0:01:46.760 --> 0:01:49.480 Good morning, Tom, Karen and Nathan. Of course, all eyes 0:01:49.480 --> 0:01:53.040 on Chairman Powell. This will be a different speech, widely anticipated, 0:01:53.120 --> 0:01:55.920 they all are. But what's different this time is the 0:01:56.040 --> 0:01:59.920 stakes on interest rate policy. What's widely understood is a 0:02:00.160 --> 0:02:02.960 not just a speech, just a few and key reports 0:02:02.960 --> 0:02:06.400 that we're gonna see into September and that important FED meeting. 0:02:06.720 --> 0:02:09.520 So it's not just the speech, it's the data reports, 0:02:09.760 --> 0:02:12.760 but it's also the news around the world, the idea 0:02:12.800 --> 0:02:15.400 of what's going on in Europe and China flat on 0:02:15.440 --> 0:02:18.400 their back. All around the world will be watching Chairman 0:02:18.520 --> 0:02:21.400 Powell this morning certainly. Well, thanks for that, Tom, and 0:02:21.400 --> 0:02:24.320 please tune into Bloomberg Radio and television this morning starting 0:02:24.320 --> 0:02:26.720 at seven am Wall Street Time for a special edition 0:02:26.720 --> 0:02:29.919 of Bloomberg Surveillance for complete live coverage from Jackson Hole. 0:02:30.160 --> 0:02:33.400 We'll speak with St. Louis FED Chief James Bullard, Patrick Harker, 0:02:33.440 --> 0:02:36.720 who heads the Philadelphia Fed, and Atlanta FED Chief Rafael 0:02:36.800 --> 0:02:39.679 Bostick all leading up to j Powell's address, and you 0:02:39.720 --> 0:02:42.840 can hear that live starting at ten am on Bloomberg 0:02:42.919 --> 0:02:46.560 Radio and TV. Well, Nathan Central bankers speaking at Jackson 0:02:46.600 --> 0:02:50.280 Hole so far half sounded hawkish. Kansas City FED President 0:02:50.280 --> 0:02:53.000 Inistor George, who hosts the event, shared her view on 0:02:53.040 --> 0:02:56.000 Bloomberg Television. Very important that we are clear in our 0:02:56.000 --> 0:02:59.040 communication about the destination we're headed. And I think that 0:02:59.160 --> 0:03:02.440 destination is important, which is we have to get interest 0:03:02.520 --> 0:03:05.760 rates higher to slow down demand and bring inflation back 0:03:05.800 --> 0:03:09.120 to our target. Kansas City Fan president Ester George also 0:03:09.240 --> 0:03:11.240 said there was more room to go and asked how 0:03:11.320 --> 0:03:14.359 high the FED should push borrowing costs. All markets will 0:03:14.360 --> 0:03:16.239 be looking for any sort of signals how might give 0:03:16.320 --> 0:03:18.520 Karen when it comes to rate hikes. In his speech, 0:03:18.560 --> 0:03:21.920 Bemo Capital Market senior economist Jennifer Lee does not think 0:03:21.960 --> 0:03:24.720 the FED share will change his recent guidance. I think 0:03:24.760 --> 0:03:27.280 he's going to stay on the Hawkers truck. I don't 0:03:27.280 --> 0:03:30.200 know why he would change his tone so quickly. Yes, 0:03:30.280 --> 0:03:33.200 we've had some weaker, you know, economic data, especially on 0:03:33.240 --> 0:03:35.840 the housing front. We finally saw some pullback on the 0:03:35.840 --> 0:03:38.200 headline inflation, but you know it's gonna be far, far 0:03:38.280 --> 0:03:40.880 too seon to ring the dovish fell the most. Senior 0:03:40.880 --> 0:03:43.400 economist Jennifer Lee says. The next major event for the 0:03:43.440 --> 0:03:45.800 FED to watch is the CPI report coming out in 0:03:45.840 --> 0:03:49.080 three weeks. Well, just as Powell's speech begins, Nathan, we'll 0:03:49.080 --> 0:03:52.120 be getting key economic reports and Bloomberg's Vinney down Junie 0:03:52.160 --> 0:03:55.680 has the details. In early August, the University of Michigan's 0:03:55.720 --> 0:03:58.200 consumer sent them man named x Howard new a record 0:03:58.240 --> 0:04:01.360 low and today's figures. On late August aren't expected to 0:04:01.400 --> 0:04:05.000 be much better Bloomberg economics, as Americans recognized there will 0:04:05.040 --> 0:04:08.880 be challenging months just ahead, even with today's rising wages 0:04:08.920 --> 0:04:12.640 and low unemployment. Also on today's data calendar, government figures 0:04:12.640 --> 0:04:15.240 on July consumer spending, and they could be tempted with 0:04:15.280 --> 0:04:17.880 inflation running hot. Then he doubt you that ice, Bloomberg, 0:04:17.880 --> 0:04:21.159 Debriek Vinny thank you overseas stocks in Asia Rose, helped 0:04:21.160 --> 0:04:23.840 by the tech sector after talks between Beijing and Washington 0:04:24.040 --> 0:04:26.320 to avoid the de listing of companies in New York 0:04:26.600 --> 0:04:29.599 said the show signs of progress well the geo politics 0:04:29.600 --> 0:04:33.560 now Nathan Tennessee Senator Marsha Blackburn became the third American 0:04:33.600 --> 0:04:37.599 dignitary to visit Taiwan this month. Senator Blackburn held several 0:04:37.640 --> 0:04:41.640 meetings there, including with Taiwan's president. The opportunity to talk 0:04:41.920 --> 0:04:47.560 with horror that hopes, dreams, plans and approaches for Taiwan 0:04:47.960 --> 0:04:53.200 and how they retain their independence. Tennessee Senator Marsha Blackburn 0:04:53.279 --> 0:04:56.560 said the US will continue to support Taiwan's independence. Bike 0:04:56.560 --> 0:04:59.760 at Homecare and President Biden campaign for Democrats in Maryland 0:04:59.839 --> 0:05:01.839 Yes Your Day ahead of November's mid terms and he 0:05:01.960 --> 0:05:04.400 into his attacks on former President Trump and what he 0:05:04.440 --> 0:05:08.480 called ultra mega Republicans. Maga Republicans don't just threaten our 0:05:08.520 --> 0:05:11.360 personal rights and economic security, they're a threat to our 0:05:11.440 --> 0:05:14.880 very democracy. They refused to accept the will of the people. 0:05:15.240 --> 0:05:19.120 They embrace, embrace political violence. President Biden also said the 0:05:19.160 --> 0:05:23.200 so called mega philosophy is semi fascism, and the corporate 0:05:23.200 --> 0:05:25.720 news Now Nathan, a couple of tech companies releasing bleak 0:05:25.800 --> 0:05:29.080 earnings and falling at the close. Yesterday. Down Technologies gave 0:05:29.080 --> 0:05:32.040 a revenue forecast that fell short of estimates, and Salesforce 0:05:32.120 --> 0:05:36.160 also slipped after it's quarterly revenue also missed analysts estimates, 0:05:36.160 --> 0:05:38.479 and del shares are down about four point three percent 0:05:38.640 --> 0:05:41.120 this morning, And to Twitter Now Karen and it's battle 0:05:41.160 --> 0:05:43.960 with Elon Muska. Judge has ordered the social media giant 0:05:44.000 --> 0:05:47.160 to hand over info, and Bloomberg's Rnita Young joins US 0:05:47.160 --> 0:05:50.000 Live with the latest. Good morning, Rnita, Good morning Nathan. Yesterday, 0:05:50.080 --> 0:05:54.240 Delaware Chancery Court Judge Kathleen McCormick ruled Twitter must turn 0:05:54.279 --> 0:05:57.560 over information about nine thousand accounts that surveyed last year. 0:05:57.960 --> 0:06:00.880 She wants the company to identify which had human beings 0:06:00.880 --> 0:06:04.920 attached to him. McCormick says Twitter also must produce documents 0:06:04.960 --> 0:06:08.200 sufficient to show how those nine thousand accounts were selected 0:06:08.200 --> 0:06:12.160 for review. At a Wednesday hearing, Elon Musk's lawyers accused 0:06:12.160 --> 0:06:15.960 their Twitter counterparts of stone walling them on the bots information. 0:06:16.400 --> 0:06:19.279 Musk believes that gives him reason to exit his bid 0:06:19.320 --> 0:06:22.440 for the platform. Live in Washington, I'm renned a young 0:06:22.480 --> 0:06:25.480 Bloomberg daybreak. We need to thank you. Another quick corporate note, 0:06:25.480 --> 0:06:29.359 pharmaceutical giant Mark's pursued to buy cancer drug maker Sigen 0:06:29.480 --> 0:06:33.080 has stalled, threatening Merk's biggest deal in more than a decade. 0:06:33.120 --> 0:06:35.680 The companies have reportedly failed to agree on a price. 0:06:35.839 --> 0:06:40.000 To this point. SMP futures are down sixteen points right now. 0:06:40.080 --> 0:06:43.119 Dal Future is down eighty two. NASDAC futures are lower 0:06:43.240 --> 0:06:47.320 by seventy five points ten. Your treasuries down fourteen thirty seconds. 0:06:47.360 --> 0:06:49.440 The old three point zero seven percent yield on the 0:06:49.480 --> 0:06:52.799 two year three point three eight percent. Nim X screwed 0:06:52.880 --> 0:06:54.840 is up one point three percent, up a dollar nineteen 0:06:54.880 --> 0:06:58.320 to seventy one cents a barrel. Comex called down six 0:06:58.360 --> 0:07:01.960 tenths per cent, or eleven dollars seventeen sixty forty ounce, 0:07:02.080 --> 0:07:05.360 the Euro one point zero zero three against the dollar, 0:07:05.480 --> 0:07:08.720 the en one thirty six point nine too. Looking at 0:07:08.760 --> 0:07:11.840 bitcoin right now, it is down one percent, trading around 0:07:11.880 --> 0:07:15.720 for twenty one thousand, four hundred dollars. Straight ahead, your 0:07:15.760 --> 0:07:19.120 latest local headlines and a check of sports. This is 0:07:19.280 --> 0:07:25.600 Bloomberg six oh seven on Wall Street, seventy six degrees 0:07:25.760 --> 0:07:28.920 in Central Park. Still dealing with the accident westbound Grand 0:07:28.960 --> 0:07:32.080 Central Airport did Mars Boulevard. We'll get to the latest 0:07:32.080 --> 0:07:34.600 details in traffic shortly. First Michael Barr with what else 0:07:34.680 --> 0:07:36.400 is going on in New York and around the world. 0:07:36.440 --> 0:07:39.040 Good morning, Michael, Good morning Nathan. The first hearing is 0:07:39.080 --> 0:07:41.600 in the books about the m t a's congestion pricing 0:07:41.640 --> 0:07:44.880 plan in Manhattan. Hundreds of people on both sides signed 0:07:44.960 --> 0:07:47.240 up to speak on the matter. The plan could cost 0:07:47.360 --> 0:07:50.720 drivers in Manhattan south of sixty Street as much as 0:07:50.760 --> 0:07:53.760 twenty three dollars during rush hour, the m t A 0:07:53.880 --> 0:07:56.800 says was designed to lessen traffic congestion by as much 0:07:56.800 --> 0:08:00.960 as Last evening's public hearing was the first of six. 0:08:01.440 --> 0:08:04.160 We may soon learn more about what made the Justice 0:08:04.160 --> 0:08:08.360 Departments search former President Donald Trump's Morla go Home. The 0:08:08.440 --> 0:08:12.080 d o J is submitting a redacted version by noon 0:08:12.240 --> 0:08:14.960 of the affidavit out of concerns for the safety of 0:08:14.960 --> 0:08:18.480 the witnesses. Legal expert Lorie Levinson, it does look like 0:08:18.520 --> 0:08:21.120 the court felt that this was something of such great 0:08:21.160 --> 0:08:24.240 public interests that to the extent that the Court could 0:08:24.280 --> 0:08:29.360 release information that did not compromise an ongoing investigation, it 0:08:29.440 --> 0:08:32.760 was inclined to do so. And of course there's great 0:08:32.760 --> 0:08:37.080 public attention on what happened here. Why the Department of 0:08:37.120 --> 0:08:40.560 Justice went so far to get a warrant to search 0:08:40.640 --> 0:08:45.360 the ex president's Marlago residence, Loyola Law School professor Lourie Levinson. 0:08:45.640 --> 0:08:48.320 The NYPD say as a man was fatally stabbed early 0:08:48.440 --> 0:08:51.400 this morning in Hell's kitchen and happened at eighth Avenue 0:08:51.480 --> 0:08:54.360 and West Street. Forty nine year old man with a 0:08:54.440 --> 0:08:57.400 history of menacing people was stabbed in a dispute, according 0:08:57.440 --> 0:09:00.559 to the police. The twenty eight year old suspect claims 0:09:00.559 --> 0:09:04.360 it was in self defense. California's Air Quality Regulation Board 0:09:04.440 --> 0:09:07.760 voted yesterday to halt the sale of gas powered cars 0:09:08.000 --> 0:09:12.800 by the board says it would dramatically lower emissions and 0:09:12.840 --> 0:09:17.480 air pollutants. Governor Gavin Newsom, this is the architecture for 0:09:17.640 --> 0:09:20.959 completely decarbonizing our economy. Change the way to producing consume energy, 0:09:21.120 --> 0:09:24.800 and it's the architecture for economic power, not just electric power. 0:09:25.240 --> 0:09:27.800 Governor Newsom says one tenth of all cars sold in 0:09:27.840 --> 0:09:30.640 the U s R To Californians. However, not everyone is 0:09:30.679 --> 0:09:33.440 on board with a change. Tom Becker says he doubts 0:09:33.480 --> 0:09:36.800 electric vehicles will be reliable enough even by that time. 0:09:37.080 --> 0:09:41.080 Battery failures and electric vehicles are very common. And guess what, 0:09:41.760 --> 0:09:44.200 these people are not going to honor their battery warranties. 0:09:44.200 --> 0:09:47.120 They don't honor him. Now you can have a battery 0:09:47.200 --> 0:09:52.640 failure in these electric vehicles that will cost dollars. Tom 0:09:52.640 --> 0:09:55.320 Becker was among those who spoke at the hearing Global 0:09:55.360 --> 0:09:57.800 News twenty four hours a day on air and on 0:09:57.840 --> 0:10:00.880 Bloomberg Quick Take, powered by more than twenty seven hundred 0:10:00.960 --> 0:10:03.640 journalists and analysts in more than a hundred twenty countries. 0:10:03.679 --> 0:10:06.040 And Michael Barr this is Bloomberg, Nathan, Thank you, Michael, 0:10:10.480 --> 0:10:12.400 almost sixth tent of all street time for the Bloomberg 0:10:12.440 --> 0:10:15.040 Sports Update with John Stanshower. Thanks Nathan. Good start to 0:10:15.080 --> 0:10:17.439 the Yankees ten game road trip there in Oakland. That's 0:10:17.440 --> 0:10:19.800 a team that is just twenty and forty two at home, 0:10:19.840 --> 0:10:21.800 and the Yanks tet off on the age twenty hits. 0:10:22.160 --> 0:10:23.839 They were up ten nothing in the fourth, then in 0:10:23.880 --> 0:10:26.160 the final was thirteen to four. Three hits for the 0:10:26.200 --> 0:10:28.760 Red Odd Andrew Ben and ten d three for Josh Donaldson. 0:10:28.800 --> 0:10:32.240 Three hits, three rbies for rookie as Waldo Cabrera, plenty 0:10:32.280 --> 0:10:34.360 of run supports with Jamison taylanned to get his team 0:10:34.440 --> 0:10:37.760 leading twelve win. Garrett Cole starts tonight. Esther Cortez was 0:10:37.840 --> 0:10:39.800 to start tomorrow, but he was placed on the injured 0:10:39.840 --> 0:10:42.280 list drain drawing, not believed to be a serious injury. 0:10:42.559 --> 0:10:44.720 John Carlos Stanton came off the i L. He was 0:10:44.760 --> 0:10:47.320 back in the Yankee lineup last night. Asked for the Mets. 0:10:47.400 --> 0:10:49.439 Jacob de Graham a lot of times in his career 0:10:49.480 --> 0:10:52.240 has gotten no run support. He doesn't need a law 0:10:52.320 --> 0:10:54.679 and he got all he needed with one swing of 0:10:54.720 --> 0:10:59.880 the Batch banksball Hi their to left field. Forget about it. 0:11:00.120 --> 0:11:02.719 That's the way out of here. Fuck the facing of 0:11:02.800 --> 0:11:07.080 a second deck. See the lotso demolishes it too. Run 0:11:07.160 --> 0:11:10.439 Homer and the Mets now League three coping in the 0:11:10.520 --> 0:11:14.320 pot of CBS thirty first on run for Alonzo has 0:11:14.320 --> 0:11:16.960 got a hundred four RBIs. The Mets beat the Rockies 0:11:17.000 --> 0:11:19.319 three oh one. Is the ground one six Inians gave 0:11:19.400 --> 0:11:21.240 up this three hits struck out nine and the Mets 0:11:21.320 --> 0:11:23.840 now with a two game lead on the Braves. US 0:11:23.920 --> 0:11:27.200 Open begins Monday. It's all about Serena Williams and she 0:11:27.280 --> 0:11:30.199 learned her first round, first round opponent and this her 0:11:30.320 --> 0:11:33.920 career ending tournament will be Donka Convintage from Montenegro, ranked 0:11:33.960 --> 0:11:37.040 eightieth in the world. Meanwhile, the unvaccinated no VAC tooka 0:11:37.120 --> 0:11:39.679 its beneficial not plane not allowed to fly into the 0:11:39.800 --> 0:11:43.480 U S Torch Championship Golf in Atlanta. Sixty five for 0:11:43.559 --> 0:11:46.280 world number one Scottie Scheffler. He's got a five shot league. 0:11:46.600 --> 0:11:49.720 John stactually wear Bloomberg Sports, Nathan, thank you, John stash 0:11:49.800 --> 0:11:52.959 Our SMP futures right down down seventeen Pointstown futures down 0:11:53.000 --> 0:11:56.040 eighty eight. Nastack futures are lower by seventy five points ten. 0:11:56.080 --> 0:11:59.760 Your treasuries down fourteen thirty seconds yield very close to 0:11:59.800 --> 0:12:07.480 three point zero eight percent. This is Bloomberg Bloomberg eleven 0:12:07.559 --> 0:12:10.520 three hither sunshine, some showers and storms developing this afternoon 0:12:10.559 --> 0:12:12.280 with highs in the upper eighties. We'll be in the 0:12:12.360 --> 0:12:15.200 upper eighties all weekend long tomorrow. Mix of sun and clouds. 0:12:15.240 --> 0:12:22.800 Sunday sunshine right now seventy six in Central Park, Broadcasting 0:12:22.920 --> 0:12:26.600 live from the Bloomberg Interactive Broker Studio in New York. 0:12:26.760 --> 0:12:31.400 Bloomberg E Living Freedom to Washington, d C. Bloomberg to Boston, 0:12:31.520 --> 0:12:34.920 Bloomberg one oh six one, to San Francisco, Bloomberg non 0:12:35.000 --> 0:12:37.559 sixteen to the country Sirius XM to have a one 0:12:37.640 --> 0:12:40.600 nine tea, and around the globe the Bloomberg Business apt 0:12:40.720 --> 0:12:50.000 in Bloomberg Radio dot com. This is Bloomberg Daybreak six 0:12:50.080 --> 0:12:52.760 thirty on Wall Street. Good morning, I'm Nathan Hagar and 0:12:52.880 --> 0:12:55.280 I'm Karen Moscow, and we are just about three hours 0:12:55.360 --> 0:12:57.400 away from the open of US trading. Time to the 0:12:57.480 --> 0:12:59.240 five things that you need to know to start your 0:12:59.320 --> 0:13:03.520 dave ronty you by Interactive Brokers. Investment advisers switched to 0:13:03.640 --> 0:13:07.880 Interactive Brokers for lowest cost global trading and turnkey custody solutions, 0:13:08.240 --> 0:13:10.760 no ticket charges and no conflicts of your interests and 0:13:10.840 --> 0:13:14.920 ibkr dot com slash r i a first Federal Reserve 0:13:15.040 --> 0:13:18.360 Chair J Powell's address at the Jackson Hole Economic Symposium 0:13:18.440 --> 0:13:22.240 this morning. Kansas City Fed President Esther George hosts the event, 0:13:22.360 --> 0:13:25.120 and she says, once rates gain higher, they may have 0:13:25.280 --> 0:13:28.240 to stay there for a while. We have more room 0:13:28.400 --> 0:13:31.319 to go that we would bring those rates down quickly, 0:13:31.400 --> 0:13:33.439 and I've seen that in some of the forecasts. Seems 0:13:33.480 --> 0:13:35.319 a bit remarkable to me. I think you will have 0:13:35.480 --> 0:13:38.520 to hold and Kansas City Fed President Ester George spoke 0:13:38.559 --> 0:13:41.720 with The Bloomberg yesterday. Tune into Bloomberg Radio and TV 0:13:41.880 --> 0:13:44.959 this morning starting at seven am. Wall Street Time for 0:13:45.080 --> 0:13:48.680 a special edition of Surveillance will have live interviews with St. 0:13:48.720 --> 0:13:51.760 Louis Fed President James Bullard, Patrick Harker, who heads the 0:13:51.800 --> 0:13:55.280 Philadelphia Fed, and Atlanta Fed Chief Raphael ball Stick All 0:13:55.360 --> 0:13:58.040 Letting ball Stick all leading up to j. Powell's address. 0:13:58.360 --> 0:14:00.559 You can hear Powell's speech live at and am on 0:14:00.640 --> 0:14:04.400 Bloomberg Radio and TV. Multi Politics Now. Karen President Biden 0:14:04.520 --> 0:14:07.880 campaign for Democrats in Maryland yesterday ahead of November's mid terms. 0:14:07.920 --> 0:14:10.319 He aimed his attacks on former President Trump and what 0:14:10.400 --> 0:14:14.679 he called Ultramega Republicans. We must be stronger, more determined, 0:14:14.720 --> 0:14:19.160 and more committed to saving America than the Maga Republics 0:14:19.200 --> 0:14:22.240 are destroyed America. President Biden said the so called Mega 0:14:22.280 --> 0:14:26.200 philosophy is semi fascism. I mean well overseas Nathan Tennessee 0:14:26.280 --> 0:14:29.880 Senator Marcia Blackburn became the third American dignitary to visit 0:14:29.920 --> 0:14:32.520 Taiwan this month. She met with Taiwan's president and said 0:14:32.560 --> 0:14:35.600 the US will continue to support its independence. MC Corporate 0:14:35.640 --> 0:14:38.120 News This morning. Twitter has some developments in its battle 0:14:38.160 --> 0:14:40.760 with Elon Musk and Bloomberg. Ranita Young joins US Live 0:14:40.880 --> 0:14:44.840 Ranita Nathan. Yesterday, Delaware Chance to Recurt Judge Kathleen McCormick 0:14:44.920 --> 0:14:48.240 ruled Twitter must turn over information about nine thousand accounts 0:14:48.280 --> 0:14:51.320 that surveyed last year. She wants the company to identify 0:14:51.440 --> 0:14:54.800 which had human beings attached to them. McCormick says Twitter 0:14:54.920 --> 0:14:58.560 also must produce documents sufficient to show those how those 0:14:58.680 --> 0:15:02.240 nine thousand accounts where selected for review. At a Wednesday hearing, 0:15:02.320 --> 0:15:06.120 Elon Musk lawyers accused their Twitter counterparts of stone walling 0:15:06.160 --> 0:15:09.480 them on the bots information. Musk believes that gives him 0:15:09.520 --> 0:15:13.040 reason to exit his bid for the platform. Live in Washington. 0:15:13.080 --> 0:15:15.680 I'm gonna need a young Bloomberg daybreak. Need to thanks. 0:15:15.720 --> 0:15:18.720 In another quick corporate note, tech giants Dell and Salesforce 0:15:18.800 --> 0:15:22.480 fell at the close yesterday after missing analysts estimates. That's 0:15:22.520 --> 0:15:24.760 the five things that you need to notice start your day. 0:15:25.080 --> 0:15:28.280 Brought to you by Interactive Brokers, and futures are lower 0:15:28.400 --> 0:15:31.360 this morning. Straight ahead your latest local headlines, plus a 0:15:31.440 --> 0:15:38.520 check of sports. And this is Bloomberg. Thanks here in 0:15:38.560 --> 0:15:41.200 sixty three on Wall Street, seventy six degrees in Central 0:15:41.240 --> 0:15:43.320 Park still dealing with the accident on the Grand Central 0:15:43.360 --> 0:15:46.440 Parkway did Mars Boulevard. More coming up in traffic. First 0:15:46.520 --> 0:15:48.320 Michael Barr with what else is going on in New 0:15:48.400 --> 0:15:51.040 York and around the world. Good morning, Michael, Good morning Nathan. 0:15:51.080 --> 0:15:54.880 Police activity early this morning at West forty four Avenue 0:15:54.960 --> 0:15:58.240 in Hell's Kitchen is from a fatal static. According to 0:15:58.320 --> 0:16:01.880 the NYPD, old man with a history of menacing people, 0:16:02.000 --> 0:16:05.040 was fatally stabbed in a fight. The suspect, twenty eight 0:16:05.120 --> 0:16:07.280 year old man, claims it was in self defense. He 0:16:07.400 --> 0:16:10.640 was taken into custody. The first of six public hearings 0:16:10.760 --> 0:16:13.960 was last night about the m t a's congestion pricing 0:16:14.080 --> 0:16:17.960 plan in Manhattan. Hundreds of people on both sides signed 0:16:18.040 --> 0:16:20.200 up to speak on the matter during the virtual meeting. 0:16:20.600 --> 0:16:24.680 Yet we're expected to pay for You're bloated and out 0:16:24.720 --> 0:16:28.800 of control. Agency seven ABC with the audio. The plan 0:16:28.920 --> 0:16:32.160 could cost drivers in parts of Manhattan as much as 0:16:32.240 --> 0:16:36.080 twenty three dollars during rush hour. The m t A 0:16:36.280 --> 0:16:39.000 says it was designed to lessen traffic congestion by as 0:16:39.080 --> 0:16:42.320 much as The Justice Department is set to release a 0:16:42.480 --> 0:16:46.800 heavily blacked out document explaining the justification for an FBI 0:16:46.960 --> 0:16:50.080 search of Donald Trump's Florida state earlier this month, when 0:16:50.160 --> 0:16:54.120 agents removed top secret government of records. The document, expected 0:16:54.200 --> 0:16:57.360 by noon, is likely to offer at least some new details. 0:16:57.800 --> 0:17:01.200 Justice Department officials are expected to have move sensitive details 0:17:01.240 --> 0:17:04.320 about witnesses and the scope and direction of the probe. 0:17:04.760 --> 0:17:08.200 Legal expert Lorie Levinson. There's been an effort by the 0:17:08.359 --> 0:17:12.159 media and by Donald Trump to get more information from 0:17:12.240 --> 0:17:15.760 the affidavit, but the government has resisted that, in part 0:17:15.840 --> 0:17:19.560 because they have an ongoing investigation. However, it does look 0:17:19.640 --> 0:17:23.280 like there's at least a compromise that there's more information 0:17:23.560 --> 0:17:27.560 regarding the investigation of Donald Trump and its possession of 0:17:27.640 --> 0:17:31.719 classified information that the public will get in the near future. 0:17:31.920 --> 0:17:35.840 Loyola Law professor Lourie Levinson. California regulators have proved a 0:17:35.920 --> 0:17:38.639 plan to ban the sale of new gas powered cars 0:17:38.760 --> 0:17:43.200 by the year. Governor Gavin Newsom calls it a historic 0:17:43.280 --> 0:17:46.160 win against climate change in California. This is a game 0:17:46.240 --> 0:17:48.800 changers relates to the environment. There's nothing else that will 0:17:48.840 --> 0:17:51.240 move the needle on greenhouse gasses more than tail piper. 0:17:51.320 --> 0:17:54.560 Missions about amissions in California come out of the tailpipe. 0:17:54.880 --> 0:17:58.440 Governor Newsom spoke to ABC. New York State began accepting 0:17:58.440 --> 0:18:02.000 applications to open its first legal recreational pot shops. Its 0:18:02.040 --> 0:18:05.639 reserving about a hundred fifty retail dispensary licenses for people 0:18:05.720 --> 0:18:09.680 with past pop convictions or their relatives. Global News twenty 0:18:09.680 --> 0:18:12.440 four hours a day on air and on Bloomberg Quick Take, 0:18:12.480 --> 0:18:15.399 powered by more than twenty seven hundred journalists analysts more 0:18:15.400 --> 0:18:17.560 than a hundred twenty countries. I'm Michael Barr. This is 0:18:17.600 --> 0:18:25.160 Bloomberg NA. Thanks Michael. Almost six thirty six on Wall Street, 0:18:25.200 --> 0:18:27.760 John Stasher has some Bloomberg Sports update. Thanks They and 0:18:27.840 --> 0:18:30.040 the Yankees with as many wins in their last four 0:18:30.119 --> 0:18:32.160 games as they had in the first twenty one days. 0:18:32.200 --> 0:18:33.679 Of all, if they made it four in a row 0:18:33.800 --> 0:18:35.439 the first three, we're all at the same score of four. 0:18:35.480 --> 0:18:37.960 At two last night in Oakland, it was thirteen to four, 0:18:38.080 --> 0:18:40.600 a twenty hit attack, no home runs, but three h 0:18:40.720 --> 0:18:43.320 three RBIs for rookie as Waldo Cabrera. Yanks got John 0:18:43.400 --> 0:18:45.119 Carlos Stanton back in the lineup and it was an 0:18:45.119 --> 0:18:47.680 easy win for Jamis Incio and the Yanks. Land tend 0:18:47.720 --> 0:18:49.359 to nothing in the fourth inning. The Mets back at 0:18:49.400 --> 0:18:51.560 City Field, start of a long homestad. They beat Colorado 0:18:51.680 --> 0:18:54.160 three to one, six strong and ins from J. J. Graham, 0:18:54.280 --> 0:18:56.920 one for Edwin Diaz. They played the trumpets song for 0:18:57.000 --> 0:18:58.960 Diaz in the eighth inning. That left the ninth for 0:18:59.040 --> 0:19:01.040 at amount of you know, pe Alonso had the big hit. 0:19:01.560 --> 0:19:04.280 He had a two run homer in the third. It's 0:19:04.280 --> 0:19:07.040 important to win every game, whether you're playing the Yankees 0:19:07.200 --> 0:19:10.439 or Um or the Rockies or or whoever, or the Phillies. 0:19:10.440 --> 0:19:12.439 I mean, it doesn't matter. It's just that we need 0:19:12.520 --> 0:19:14.720 to do our job every single day. Come up and 0:19:15.119 --> 0:19:17.359 and execute a plan, come up and play together as 0:19:17.400 --> 0:19:19.800 a team. So we did a really good job of that. 0:19:19.840 --> 0:19:22.639 Tonight pitching was great. Uh we did did enough as 0:19:22.680 --> 0:19:24.840 an offense to score enough runs and win the game. 0:19:24.880 --> 0:19:27.040 The Mets lead the Braves now by two. The Jets 0:19:27.080 --> 0:19:30.240 in twenty drafted white out Denzel Mims in the second round. 0:19:30.280 --> 0:19:32.280 He has fallen on the Jets depth chart and now 0:19:32.400 --> 0:19:34.440 Mims has asked to be traded. The Jets and Giants 0:19:34.440 --> 0:19:37.240 will play Sunday afternoon MetLife. The two New York teams 0:19:37.240 --> 0:19:39.840 has had a joint practice. Daniel Jones was impressive going 0:19:39.920 --> 0:19:42.920 fourteen and fifteen, but Giants linebacker ziz O Gilari limped 0:19:42.920 --> 0:19:45.520 off the field. With a legendary US Open begins Monday, 0:19:45.560 --> 0:19:48.200 Novak Djokovic made it official he's unback today that he's 0:19:48.240 --> 0:19:50.800 not allowed to fly into the US to play golf 0:19:50.880 --> 0:19:53.240 in Atlanta. Scottie Scheffler took a big step towards an 0:19:53.359 --> 0:19:56.960 eighteen million dollar paycheck. He began the Tour Championship with 0:19:57.000 --> 0:19:59.680 the two two shot lead based on the leading the standings, 0:19:59.720 --> 0:20:02.800 and now he leads by five. John Stash where Bloomberg 0:20:02.800 --> 0:20:06.600 Sports stave Okay, John thanks six seven on Wall Street 0:20:06.680 --> 0:20:08.359 let's take a look at stock, some of the names 0:20:08.440 --> 0:20:12.880 moving in the pre market, and the pre chair pal's speech. 0:20:13.400 --> 0:20:16.359 We're joined now by Bloomberg Radio on TV Markets correspondent 0:20:16.440 --> 0:20:19.879 Create Gufta. Looking at earnings again. Create, I know it 0:20:19.960 --> 0:20:22.160 kind of feels like earning season is not quite ending. 0:20:22.720 --> 0:20:24.600 This one just keeps dragging on. But perhaps some good 0:20:24.680 --> 0:20:26.640 news as we are in a wait and c mode. 0:20:26.680 --> 0:20:28.440 On the surface, Nathan, I would say things are pretty 0:20:28.440 --> 0:20:30.640 calm on the macro front once again, no one making 0:20:30.640 --> 0:20:32.920 any big moves. But then underneath you look at the 0:20:32.960 --> 0:20:35.040 micro and you are seeing some big moves. We'll start 0:20:35.080 --> 0:20:37.200 with del here. D E. L l is your taker. 0:20:37.240 --> 0:20:39.720 Shares are down about five percent in the pre market. 0:20:39.800 --> 0:20:41.720 This comes after their earnings picture, which by the way, 0:20:41.800 --> 0:20:44.840 looks actually pretty good. Their revenue forecast did, however, fall 0:20:44.920 --> 0:20:47.680 short of estimates, but their second quarter sales did come 0:20:47.720 --> 0:20:51.080 in stronger US enterprise spending fueling about nine percent of 0:20:51.160 --> 0:20:55.760 growth there. Dell, however, declining after this comment executive signaling 0:20:55.920 --> 0:20:59.640 tighter times ahead. They're saying they're observing more cautious customer 0:20:59.680 --> 0:21:02.800 behavior year as the quarter progressed, and of course they're 0:21:02.800 --> 0:21:04.480 saying that that's only going to get worse as we 0:21:04.520 --> 0:21:06.440 see more and more challenges throughout the end of the year. 0:21:06.880 --> 0:21:09.639 And some other earnings as well. From Workday, a pretty 0:21:09.640 --> 0:21:12.040 strong moved there as well. A pretty strong move w 0:21:12.320 --> 0:21:14.200 d a y is the taker that you want to 0:21:14.240 --> 0:21:17.040 keep an eye on. Shares are actually up eleven percent. 0:21:17.280 --> 0:21:19.159 They were up as much as twelve percent earlier in 0:21:19.240 --> 0:21:21.359 the session, so seeing a little bit of volatility in 0:21:21.480 --> 0:21:24.480 Workday shares. This comes after the application software company, of course, 0:21:24.520 --> 0:21:27.359 reported earnings like we were talking about, and they topped them, 0:21:27.400 --> 0:21:29.320