Speaker 1: My from the Bloomberg Interactive Burger Studios. This is Bloomberg
Speaker 1: day Break for a Friday, August twenty six two. Coming
Speaker 1: up this hour, FED officials take a hawkish stance ahead
Speaker 1: of j. Powell's Jackson Whole speech. I judge orders Twitter
Speaker 1: to hand more data to Elon Musk. Guess their legal
Speaker 1: battle continues. Dell and salesforce slide as more tech companies
Speaker 1: report tighter times ahead. The first MTA hearing on congestion
Speaker 1: pricing in Manhattan is in the books. Plus we should
Speaker 1: see soon every dacting Affidavid search Trump's maramago with State.
Speaker 1: I'm Michael Barr. More ahead, I'm Stash in sports. Twenty
Speaker 1: hits for the Yankees and easy win at Oakland. JAKEB.
Speaker 1: De Graham pitched the Mets to victory over Colorado. That's
Speaker 1: all strad ahead on Bloomberg day Break on Bloomberg eleven Trio,
Speaker 1: New York, Bloomberg one, Washington, d C, Bloomberg one oh
Speaker 1: six one, Boston, Bloomberg nine sixties and Francisco Sirius XM
Speaker 1: one nineteen and around the world on Bloomberg Radio dot
Speaker 1: Com and via the Bloomberg Business. Actor and good Friday morning.
Speaker 1: I'm Nathan Hagar and I'm Karen Moscow, US not in next.
Speaker 1: Futures are lower this morning. We are coming up to
Speaker 1: six o one on Wall Street, and we check the
Speaker 1: markets every fifteen minutes throughout the trading day. On Bloomberg.
Speaker 1: Right now, SMP futures are down fifteen points down, Future
Speaker 1: is down seventy four and NASDAG futures down seventy. Ten
Speaker 1: year treasury down thirteen thirty seconds. He'll three point oh
Speaker 1: seven percent. They yield on the two year three point
Speaker 1: three eight percent, and NIMEX screwed oil is up one
Speaker 1: point two percent. Nathan Karen, it's the event Wall Street
Speaker 1: and global markets have been awaiting all week. Federal Reserve
Speaker 1: Chairman Jerome Powell delivers his speech at the Jackson Hole
Speaker 1: Economic Symposium. Bloomberg's Tom Keene is covering the event for us.
Speaker 1: Good morning, Tom, Karen and Nathan. Of course, all eyes
Speaker 1: on Chairman Powell. This will be a different speech, widely anticipated,
Speaker 1: they all are. But what's different this time is the
Speaker 1: stakes on interest rate policy. What's widely understood is a
Speaker 1: not just a speech, just a few and key reports
Speaker 1: that we're gonna see into September and that important FED meeting.
Speaker 1: So it's not just the speech, it's the data reports,
Speaker 1: but it's also the news around the world, the idea
Speaker 1: of what's going on in Europe and China flat on
Speaker 1: their back. All around the world will be watching Chairman
Speaker 1: Powell this morning certainly. Well, thanks for that, Tom, and
Speaker 1: please tune into Bloomberg Radio and television this morning starting
Speaker 1: at seven am Wall Street Time for a special edition
Speaker 1: of Bloomberg Surveillance for complete live coverage from Jackson Hole.
Speaker 1: We'll speak with St. Louis FED Chief James Bullard, Patrick Harker,
Speaker 1: who heads the Philadelphia Fed, and Atlanta FED Chief Rafael
Speaker 1: Bostick all leading up to j Powell's address, and you
Speaker 1: can hear that live starting at ten am on Bloomberg
Speaker 1: Radio and TV. Well, Nathan Central bankers speaking at Jackson
Speaker 1: Hole so far half sounded hawkish. Kansas City FED President
Speaker 1: Inistor George, who hosts the event, shared her view on
Speaker 1: Bloomberg Television. Very important that we are clear in our
Speaker 1: communication about the destination we're headed. And I think that
Speaker 1: destination is important, which is we have to get interest
Speaker 1: rates higher to slow down demand and bring inflation back
Speaker 1: to our target. Kansas City Fan president Ester George also
Speaker 1: said there was more room to go and asked how
Speaker 1: high the FED should push borrowing costs. All markets will
Speaker 1: be looking for any sort of signals how might give
Speaker 1: Karen when it comes to rate hikes. In his speech,
Speaker 1: Bemo Capital Market senior economist Jennifer Lee does not think
Speaker 1: the FED share will change his recent guidance. I think
Speaker 1: he's going to stay on the Hawkers truck. I don't
Speaker 1: know why he would change his tone so quickly. Yes,
Speaker 1: we've had some weaker, you know, economic data, especially on
Speaker 1: the housing front. We finally saw some pullback on the
Speaker 1: headline inflation, but you know it's gonna be far, far
Speaker 1: too seon to ring the dovish fell the most. Senior
Speaker 1: economist Jennifer Lee says. The next major event for the
Speaker 1: FED to watch is the CPI report coming out in
Speaker 1: three weeks. Well, just as Powell's speech begins, Nathan, we'll
Speaker 1: be getting key economic reports and Bloomberg's Vinney down Junie
Speaker 1: has the details. In early August, the University of Michigan's
Speaker 1: consumer sent them man named x Howard new a record
Speaker 1: low and today's figures. On late August aren't expected to
Speaker 1: be much better Bloomberg economics, as Americans recognized there will
Speaker 1: be challenging months just ahead, even with today's rising wages
Speaker 1: and low unemployment. Also on today's data calendar, government figures
Speaker 1: on July consumer spending, and they could be tempted with
Speaker 1: inflation running hot. Then he doubt you that ice, Bloomberg,
Speaker 1: Debriek Vinny thank you overseas stocks in Asia Rose, helped
Speaker 1: by the tech sector after talks between Beijing and Washington
Speaker 1: to avoid the de listing of companies in New York
Speaker 1: said the show signs of progress well the geo politics
Speaker 1: now Nathan Tennessee Senator Marsha Blackburn became the third American
Speaker 1: dignitary to visit Taiwan this month. Senator Blackburn held several
Speaker 1: meetings there, including with Taiwan's president. The opportunity to talk
Speaker 1: with horror that hopes, dreams, plans and approaches for Taiwan
Speaker 1: and how they retain their independence. Tennessee Senator Marsha Blackburn
Speaker 1: said the US will continue to support Taiwan's independence. Bike
Speaker 1: at Homecare and President Biden campaign for Democrats in Maryland
Speaker 1: Yes Your Day ahead of November's mid terms and he
Speaker 1: into his attacks on former President Trump and what he
Speaker 1: called ultra mega Republicans. Maga Republicans don't just threaten our
Speaker 1: personal rights and economic security, they're a threat to our
Speaker 1: very democracy. They refused to accept the will of the people.
Speaker 1: They embrace, embrace political violence. President Biden also said the
Speaker 1: so called mega philosophy is semi fascism, and the corporate
Speaker 1: news Now Nathan, a couple of tech companies releasing bleak
Speaker 1: earnings and falling at the close. Yesterday. Down Technologies gave
Speaker 1: a revenue forecast that fell short of estimates, and Salesforce
Speaker 1: also slipped after it's quarterly revenue also missed analysts estimates,
Speaker 1: and del shares are down about four point three percent
Speaker 1: this morning, And to Twitter Now Karen and it's battle
Speaker 1: with Elon Muska. Judge has ordered the social media giant
Speaker 1: to hand over info, and Bloomberg's Rnita Young joins US
Speaker 1: Live with the latest. Good morning, Rnita, Good morning Nathan. Yesterday,
Speaker 1: Delaware Chancery Court Judge Kathleen McCormick ruled Twitter must turn
Speaker 1: over information about nine thousand accounts that surveyed last year.
Speaker 1: She wants the company to identify which had human beings
Speaker 1: attached to him. McCormick says Twitter also must produce documents
Speaker 1: sufficient to show how those nine thousand accounts were selected
Speaker 1: for review. At a Wednesday hearing, Elon Musk's lawyers accused
Speaker 1: their Twitter counterparts of stone walling them on the bots information.
Speaker 1: Musk believes that gives him reason to exit his bid
Speaker 1: for the platform. Live in Washington, I'm renned a young
Speaker 1: Bloomberg daybreak. We need to thank you. Another quick corporate note,
Speaker 1: pharmaceutical giant Mark's pursued to buy cancer drug maker Sigen
Speaker 1: has stalled, threatening Merk's biggest deal in more than a decade.
Speaker 1: The companies have reportedly failed to agree on a price.
Speaker 1: To this point. SMP futures are down sixteen points right now.
Speaker 1: Dal Future is down eighty two. NASDAC futures are lower
Speaker 1: by seventy five points ten. Your treasuries down fourteen thirty seconds.
Speaker 1: The old three point zero seven percent yield on the
Speaker 1: two year three point three eight percent. Nim X screwed
Speaker 1: is up one point three percent, up a dollar nineteen
Speaker 1: to seventy one cents a barrel. Comex called down six
Speaker 1: tenths per cent, or eleven dollars seventeen sixty forty ounce,
Speaker 1: the Euro one point zero zero three against the dollar,
Speaker 1: the en one thirty six point nine too. Looking at
Speaker 1: bitcoin right now, it is down one percent, trading around
Speaker 1: for twenty one thousand, four hundred dollars. Straight ahead, your
Speaker 1: latest local headlines and a check of sports. This is
Speaker 1: Bloomberg six oh seven on Wall Street, seventy six degrees
Speaker 1: in Central Park. Still dealing with the accident westbound Grand
Speaker 1: Central Airport did Mars Boulevard. We'll get to the latest
Speaker 1: details in traffic shortly. First Michael Barr with what else
Speaker 1: is going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. The first hearing is
Speaker 1: in the books about the m t a's congestion pricing
Speaker 1: plan in Manhattan. Hundreds of people on both sides signed
Speaker 1: up to speak on the matter. The plan could cost
Speaker 1: drivers in Manhattan south of sixty Street as much as
Speaker 1: twenty three dollars during rush hour, the m t A
Speaker 1: says was designed to lessen traffic congestion by as much
Speaker 1: as Last evening's public hearing was the first of six.
Speaker 1: We may soon learn more about what made the Justice
Speaker 1: Departments search former President Donald Trump's Morla go Home. The
Speaker 1: d o J is submitting a redacted version by noon
Speaker 1: of the affidavit out of concerns for the safety of
Speaker 1: the witnesses. Legal expert Lorie Levinson, it does look like
Speaker 1: the court felt that this was something of such great
Speaker 1: public interests that to the extent that the Court could
Speaker 1: release information that did not compromise an ongoing investigation, it
Speaker 1: was inclined to do so. And of course there's great
Speaker 1: public attention on what happened here. Why the Department of
Speaker 1: Justice went so far to get a warrant to search
Speaker 1: the ex president's Marlago residence, Loyola Law School professor Lourie Levinson.
Speaker 1: The NYPD say as a man was fatally stabbed early
Speaker 1: this morning in Hell's kitchen and happened at eighth Avenue
Speaker 1: and West Street. Forty nine year old man with a
Speaker 1: history of menacing people was stabbed in a dispute, according
Speaker 1: to the police. The twenty eight year old suspect claims
Speaker 1: it was in self defense. California's Air Quality Regulation Board
Speaker 1: voted yesterday to halt the sale of gas powered cars
Speaker 1: by the board says it would dramatically lower emissions and
Speaker 1: air pollutants. Governor Gavin Newsom, this is the architecture for
Speaker 1: completely decarbonizing our economy. Change the way to producing consume energy,
Speaker 1: and it's the architecture for economic power, not just electric power.
Speaker 1: Governor Newsom says one tenth of all cars sold in
Speaker 1: the U s R To Californians. However, not everyone is
Speaker 1: on board with a change. Tom Becker says he doubts
Speaker 1: electric vehicles will be reliable enough even by that time.
Speaker 1: Battery failures and electric vehicles are very common. And guess what,
Speaker 1: these people are not going to honor their battery warranties.
Speaker 1: They don't honor him. Now you can have a battery
Speaker 1: failure in these electric vehicles that will cost dollars. Tom
Speaker 1: Becker was among those who spoke at the hearing Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quick Take, powered by more than twenty seven hundred
Speaker 1: journalists and analysts in more than a hundred twenty countries.
Speaker 1: And Michael Barr this is Bloomberg, Nathan, Thank you, Michael,
Speaker 1: almost sixth tent of all street time for the Bloomberg
Speaker 1: Sports Update with John Stanshower. Thanks Nathan. Good start to
Speaker 1: the Yankees ten game road trip there in Oakland. That's
Speaker 1: a team that is just twenty and forty two at home,
Speaker 1: and the Yanks tet off on the age twenty hits.
Speaker 1: They were up ten nothing in the fourth, then in
Speaker 1: the final was thirteen to four. Three hits for the
Speaker 1: Red Odd Andrew Ben and ten d three for Josh Donaldson.
Speaker 1: Three hits, three rbies for rookie as Waldo Cabrera, plenty
Speaker 1: of run supports with Jamison taylanned to get his team
Speaker 1: leading twelve win. Garrett Cole starts tonight. Esther Cortez was
Speaker 1: to start tomorrow, but he was placed on the injured
Speaker 1: list drain drawing, not believed to be a serious injury.
Speaker 1: John Carlos Stanton came off the i L. He was
Speaker 1: back in the Yankee lineup last night. Asked for the Mets.
Speaker 1: Jacob de Graham a lot of times in his career
Speaker 1: has gotten no run support. He doesn't need a law
Speaker 1: and he got all he needed with one swing of
Speaker 1: the Batch banksball Hi their to left field. Forget about it.
Speaker 1: That's the way out of here. Fuck the facing of
Speaker 1: a second deck. See the lotso demolishes it too. Run
Speaker 1: Homer and the Mets now League three coping in the
Speaker 1: pot of CBS thirty first on run for Alonzo has
Speaker 1: got a hundred four RBIs. The Mets beat the Rockies
Speaker 1: three oh one. Is the ground one six Inians gave
Speaker 1: up this three hits struck out nine and the Mets
Speaker 1: now with a two game lead on the Braves. US
Speaker 1: Open begins Monday. It's all about Serena Williams and she
Speaker 1: learned her first round, first round opponent and this her
Speaker 1: career ending tournament will be Donka Convintage from Montenegro, ranked
Speaker 1: eightieth in the world. Meanwhile, the unvaccinated no VAC tooka
Speaker 1: its beneficial not plane not allowed to fly into the
Speaker 1: U S Torch Championship Golf in Atlanta. Sixty five for
Speaker 1: world number one Scottie Scheffler. He's got a five shot league.
Speaker 1: John stactually wear Bloomberg Sports, Nathan, thank you, John stash
Speaker 1: Our SMP futures right down down seventeen Pointstown futures down
Speaker 1: eighty eight. Nastack futures are lower by seventy five points ten.
Speaker 1: Your treasuries down fourteen thirty seconds yield very close to
Speaker 1: three point zero eight percent. This is Bloomberg Bloomberg eleven
Speaker 1: three hither sunshine, some showers and storms developing this afternoon
Speaker 1: with highs in the upper eighties. We'll be in the
Speaker 1: upper eighties all weekend long tomorrow. Mix of sun and clouds.
Speaker 1: Sunday sunshine right now seventy six in Central Park, Broadcasting
Speaker 1: live from the Bloomberg Interactive Broker Studio in New York.
Speaker 1: Bloomberg E Living Freedom to Washington, d C. Bloomberg to Boston,
Speaker 1: Bloomberg one oh six one, to San Francisco, Bloomberg non
Speaker 1: sixteen to the country Sirius XM to have a one
Speaker 1: nine tea, and around the globe the Bloomberg Business apt
Speaker 1: in Bloomberg Radio dot com. This is Bloomberg Daybreak six
Speaker 1: thirty on Wall Street. Good morning, I'm Nathan Hagar and
Speaker 1: I'm Karen Moscow, and we are just about three hours
Speaker 1: away from the open of US trading. Time to the
Speaker 1: five things that you need to know to start your
Speaker 1: dave ronty you by Interactive Brokers. Investment advisers switched to
Speaker 1: Interactive Brokers for lowest cost global trading and turnkey custody solutions,
Speaker 1: no ticket charges and no conflicts of your interests and
Speaker 1: ibkr dot com slash r i a first Federal Reserve
Speaker 1: Chair J Powell's address at the Jackson Hole Economic Symposium
Speaker 1: this morning. Kansas City Fed President Esther George hosts the event,
Speaker 1: and she says, once rates gain higher, they may have
Speaker 1: to stay there for a while. We have more room
Speaker 1: to go that we would bring those rates down quickly,
Speaker 1: and I've seen that in some of the forecasts. Seems
Speaker 1: a bit remarkable to me. I think you will have
Speaker 1: to hold and Kansas City Fed President Ester George spoke
Speaker 1: with The Bloomberg yesterday. Tune into Bloomberg Radio and TV
Speaker 1: this morning starting at seven am. Wall Street Time for
Speaker 1: a special edition of Surveillance will have live interviews with St.
Speaker 1: Louis Fed President James Bullard, Patrick Harker, who heads the
Speaker 1: Philadelphia Fed, and Atlanta Fed Chief Raphael ball Stick All
Speaker 1: Letting ball Stick all leading up to j. Powell's address.
Speaker 1: You can hear Powell's speech live at and am on
Speaker 1: Bloomberg Radio and TV. Multi Politics Now. Karen President Biden
Speaker 1: campaign for Democrats in Maryland yesterday ahead of November's mid terms.
Speaker 1: He aimed his attacks on former President Trump and what
Speaker 1: he called Ultramega Republicans. We must be stronger, more determined,
Speaker 1: and more committed to saving America than the Maga Republics
Speaker 1: are destroyed America. President Biden said the so called Mega
Speaker 1: philosophy is semi fascism. I mean well overseas Nathan Tennessee
Speaker 1: Senator Marcia Blackburn became the third American dignitary to visit
Speaker 1: Taiwan this month. She met with Taiwan's president and said
Speaker 1: the US will continue to support its independence. MC Corporate
Speaker 1: News This morning. Twitter has some developments in its battle
Speaker 1: with Elon Musk and Bloomberg. Ranita Young joins US Live
Speaker 1: Ranita Nathan. Yesterday, Delaware Chance to Recurt Judge Kathleen McCormick
Speaker 1: ruled Twitter must turn over information about nine thousand accounts
Speaker 1: that surveyed last year. She wants the company to identify
Speaker 1: which had human beings attached to them. McCormick says Twitter
Speaker 1: also must produce documents sufficient to show those how those
Speaker 1: nine thousand accounts where selected for review. At a Wednesday hearing,
Speaker 1: Elon Musk lawyers accused their Twitter counterparts of stone walling
Speaker 1: them on the bots information. Musk believes that gives him
Speaker 1: reason to exit his bid for the platform. Live in Washington.
Speaker 1: I'm gonna need a young Bloomberg daybreak. Need to thanks.
Speaker 1: In another quick corporate note, tech giants Dell and Salesforce
Speaker 1: fell at the close yesterday after missing analysts estimates. That's
Speaker 1: the five things that you need to notice start your day.
Speaker 1: Brought to you by Interactive Brokers, and futures are lower
Speaker 1: this morning. Straight ahead your latest local headlines, plus a
Speaker 1: check of sports. And this is Bloomberg. Thanks here in
Speaker 1: sixty three on Wall Street, seventy six degrees in Central
Speaker 1: Park still dealing with the accident on the Grand Central
Speaker 1: Parkway did Mars Boulevard. More coming up in traffic. First
Speaker 1: Michael Barr with what else is going on in New
Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan.
Speaker 1: Police activity early this morning at West forty four Avenue
Speaker 1: in Hell's Kitchen is from a fatal static. According to
Speaker 1: the NYPD, old man with a history of menacing people,
Speaker 1: was fatally stabbed in a fight. The suspect, twenty eight
Speaker 1: year old man, claims it was in self defense. He
Speaker 1: was taken into custody. The first of six public hearings
Speaker 1: was last night about the m t a's congestion pricing
Speaker 1: plan in Manhattan. Hundreds of people on both sides signed
Speaker 1: up to speak on the matter during the virtual meeting.
Speaker 1: Yet we're expected to pay for You're bloated and out
Speaker 1: of control. Agency seven ABC with the audio. The plan
Speaker 1: could cost drivers in parts of Manhattan as much as
Speaker 1: twenty three dollars during rush hour. The m t A
Speaker 1: says it was designed to lessen traffic congestion by as
Speaker 1: much as The Justice Department is set to release a
Speaker 1: heavily blacked out document explaining the justification for an FBI
Speaker 1: search of Donald Trump's Florida state earlier this month, when
Speaker 1: agents removed top secret government of records. The document, expected
Speaker 1: by noon, is likely to offer at least some new details.
Speaker 1: Justice Department officials are expected to have move sensitive details
Speaker 1: about witnesses and the scope and direction of the probe.
Speaker 1: Legal expert Lorie Levinson. There's been an effort by the
Speaker 1: media and by Donald Trump to get more information from
Speaker 1: the affidavit, but the government has resisted that, in part
Speaker 1: because they have an ongoing investigation. However, it does look
Speaker 1: like there's at least a compromise that there's more information
Speaker 1: regarding the investigation of Donald Trump and its possession of
Speaker 1: classified information that the public will get in the near future.
Speaker 1: Loyola Law professor Lourie Levinson. California regulators have proved a
Speaker 1: plan to ban the sale of new gas powered cars
Speaker 1: by the year. Governor Gavin Newsom calls it a historic
Speaker 1: win against climate change in California. This is a game
Speaker 1: changers relates to the environment. There's nothing else that will
Speaker 1: move the needle on greenhouse gasses more than tail piper.
Speaker 1: Missions about amissions in California come out of the tailpipe.
Speaker 1: Governor Newsom spoke to ABC. New York State began accepting
Speaker 1: applications to open its first legal recreational pot shops. Its
Speaker 1: reserving about a hundred fifty retail dispensary licenses for people
Speaker 1: with past pop convictions or their relatives. Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quick Take,
Speaker 1: powered by more than twenty seven hundred journalists analysts more
Speaker 1: than a hundred twenty countries. I'm Michael Barr. This is
Speaker 1: Bloomberg NA. Thanks Michael. Almost six thirty six on Wall Street,
Speaker 1: John Stasher has some Bloomberg Sports update. Thanks They and
Speaker 1: the Yankees with as many wins in their last four
Speaker 1: games as they had in the first twenty one days.
Speaker 1: Of all, if they made it four in a row
Speaker 1: the first three, we're all at the same score of four.
Speaker 1: At two last night in Oakland, it was thirteen to four,
Speaker 1: a twenty hit attack, no home runs, but three h
Speaker 1: three RBIs for rookie as Waldo Cabrera. Yanks got John
Speaker 1: Carlos Stanton back in the lineup and it was an
Speaker 1: easy win for Jamis Incio and the Yanks. Land tend
Speaker 1: to nothing in the fourth inning. The Mets back at
Speaker 1: City Field, start of a long homestad. They beat Colorado
Speaker 1: three to one, six strong and ins from J. J. Graham,
Speaker 1: one for Edwin Diaz. They played the trumpets song for
Speaker 1: Diaz in the eighth inning. That left the ninth for
Speaker 1: at amount of you know, pe Alonso had the big hit.
Speaker 1: He had a two run homer in the third. It's
Speaker 1: important to win every game, whether you're playing the Yankees
Speaker 1: or Um or the Rockies or or whoever, or the Phillies.
Speaker 1: I mean, it doesn't matter. It's just that we need
Speaker 1: to do our job every single day. Come up and
Speaker 1: and execute a plan, come up and play together as
Speaker 1: a team. So we did a really good job of that.
Speaker 1: Tonight pitching was great. Uh we did did enough as
Speaker 1: an offense to score enough runs and win the game.
Speaker 1: The Mets lead the Braves now by two. The Jets
Speaker 1: in twenty drafted white out Denzel Mims in the second round.
Speaker 1: He has fallen on the Jets depth chart and now
Speaker 1: Mims has asked to be traded. The Jets and Giants
Speaker 1: will play Sunday afternoon MetLife. The two New York teams
Speaker 1: has had a joint practice. Daniel Jones was impressive going
Speaker 1: fourteen and fifteen, but Giants linebacker ziz O Gilari limped
Speaker 1: off the field. With a legendary US Open begins Monday,
Speaker 1: Novak Djokovic made it official he's unback today that he's
Speaker 1: not allowed to fly into the US to play golf
Speaker 1: in Atlanta. Scottie Scheffler took a big step towards an
Speaker 1: eighteen million dollar paycheck. He began the Tour Championship with
Speaker 1: the two two shot lead based on the leading the standings,
Speaker 1: and now he leads by five. John Stash where Bloomberg
Speaker 1: Sports stave Okay, John thanks six seven on Wall Street
Speaker 1: let's take a look at stock, some of the names
Speaker 1: moving in the pre market, and the pre chair pal's speech.
Speaker 1: We're joined now by Bloomberg Radio on TV Markets correspondent
Speaker 1: Create Gufta. Looking at earnings again. Create, I know it
Speaker 1: kind of feels like earning season is not quite ending.
Speaker 1: This one just keeps dragging on. But perhaps some good
Speaker 1: news as we are in a wait and c mode.
Speaker 1: On the surface, Nathan, I would say things are pretty
Speaker 1: calm on the macro front once again, no one making
Speaker 1: any big moves. But then underneath you look at the
Speaker 1: micro and you are seeing some big moves. We'll start
Speaker 1: with del here. D E. L l is your taker.
Speaker 1: Shares are down about five percent in the pre market.
Speaker 1: This comes after their earnings picture, which by the way,
Speaker 1: looks actually pretty good. Their revenue forecast did, however, fall
Speaker 1: short of estimates, but their second quarter sales did come
Speaker 1: in stronger US enterprise spending fueling about nine percent of
Speaker 1: growth there. Dell, however, declining after this comment executive signaling
Speaker 1: tighter times ahead. They're saying they're observing more cautious customer
Speaker 1: behavior year as the quarter progressed, and of course they're
Speaker 1: saying that that's only going to get worse as we
Speaker 1: see more and more challenges throughout the end of the year.
Speaker 1: And some other earnings as well. From Workday, a pretty
Speaker 1: strong moved there as well. A pretty strong move w
Speaker 1: d a y is the taker that you want to
Speaker 1: keep an eye on. Shares are actually up eleven percent.
Speaker 1: They were up as much as twelve percent earlier in
Speaker 1: the session, so seeing a little bit of volatility in
Speaker 1: Workday shares. This comes after the application software company, of course,
Speaker 1: reported earnings like we were talking about, and they topped them,
Speaker 1: and they topped them by quite a bit. Remember anythan
Speaker 1: one of the key themes right now is not just
Speaker 1: about consumer spending but about business investment as well. And
Speaker 1: that's why companies like Dell and Workday and we're gonna
Speaker 1: talk about a firm in a second, are so important
Speaker 1: because it's are a lot of corporate America, the other
Speaker 1: kind of fuel of of spending actually putting their money
Speaker 1: to work, and for a long time they weren't. So
Speaker 1: to see that slowing down once again is not good
Speaker 1: news for Dell, but then it is good perhaps coming
Speaker 1: in better from Workday. Analysting at the Workday beat was
Speaker 1: solid all around, but they are, however, seeing a little
Speaker 1: bit more of a slow down here. The good news
Speaker 1: for them is that it's the back to office modernization
Speaker 1: that is driving the demand, essentially something you're seeing in
Speaker 1: cloud companies as well, that a lot of people are saying,
Speaker 1: now that we're back in the office, we're gonna update
Speaker 1: our systems, etcetera. Nathan I mentioned a firm as well,
Speaker 1: A f RM is the taker you want to keep
Speaker 1: an eye on. This is actually another downside story down
Speaker 1: about in the pre market. Their sales forecast for three
Speaker 1: coming out quite mediocre and missing the average annals estimate.
Speaker 1: So um, a pretty bad cherry on top of a
Speaker 1: pretty bad Sunday, although we got some pretty good news
Speaker 1: from another apparel company. Kind of interesting here given some
Speaker 1: of the mixed results we've seen from retail change. Yeah,
Speaker 1: we'll quickly hit this one. GPS is your taker for
Speaker 1: gap shares. They are actually up seven point three percent,
Speaker 1: this coming after they reported a surprise profit and improving
Speaker 1: sales trends. Huge when we're talking about the retail sector,
Speaker 1: the build up of inventories alright. Bloomberg Radio and TV
Speaker 1: Markets correspondent Pretty Gupta is always saying really busy during
Speaker 1: the prolonged or season. Looking ahead to the market open
Speaker 1: and Chairman pal speech. Futures as a whole moving lower.
Speaker 1: We have SMP futures right now down seventeen points down,
Speaker 1: futures down ninety three. NASTAC futures are lower by seventy
Speaker 1: two points ten. Your treasuries down thirteen and thirty seconds,
Speaker 1: the yield three point zero seven percent. This is Bloomberg
Speaker 1: Bloomberg eleven three oh weather sunshine with some showers and
Speaker 1: storms this afternoon. We'll get up to your ninety degrees
Speaker 1: upper eighties, mix of sun and clouds. Tomorrow, sunny for
Speaker 1: Sunday with a high near nine once again, right now
Speaker 1: seventy six in Central Park Markets. Headlines and breaking news
Speaker 1: twenty four hours a day at Bloomberg dot Com, the
Speaker 1: Bloomberg Business Out and at Bloomberg Quick Take. He's a
Speaker 1: Bloomberg Business Flash and I'm Karen Moscow. US Dock Index
Speaker 1: futures are slipping, Treasuries are at trading is a chorus
Speaker 1: of Federal Reserve hawks repair the g on for a
Speaker 1: much anticipated speech by chairs around Powell that's set to
Speaker 1: shape views on the pace of monetary tithing We checked
Speaker 1: the markets every fifteen minutes throughout the trading day on
Speaker 1: Bloomberg S and P Future is down about seventeen points down,
Speaker 1: futures down eighty five, NASDAGG futures down seventy four. The
Speaker 1: decks in Germany is down a third of a percent.
Speaker 1: Ten year treasury down fifty and thirty seconds three point
Speaker 1: eight percent. They yield on the two year three point
Speaker 1: three eight percent. Nine max screwed oil at one point
Speaker 1: two percent of a dollar eleven and ninety three dollars
Speaker 1: sixty three cents of barrel comex school there is down
Speaker 1: seven ten percent or eleven dollar sixty cents at seventeen
Speaker 1: sixty and ounce. The euro at one point zero zero
Speaker 1: one three against the dollar British found one point one
Speaker 1: eight three nine and the en one thirty six point nine.
Speaker 1: To look at a bitcoin this morning, it's lower down
Speaker 1: about one point one percent now at twenty one thou
Speaker 1: four hundred twenty dollars. That's a Bloomberg business flash. Now
Speaker 1: here's Michael Barr with more on what's going on around
Speaker 1: the world. Michael Darren, thank you very much. A federal
Speaker 1: judge says the Justice Department has until noon to release
Speaker 1: an affidavit use to justify the FBI search of former
Speaker 1: President Trump's Florida home. The judge says he's accepted the
Speaker 1: Justice Department's redactions and reasons for blocking out information about witnesses, agents,
Speaker 1: and uncharged parties in the document. A major nuclear power
Speaker 1: plan in Ukraine was temporarily cut off from the electricity grid.
Speaker 1: The Zapparisha nuclear plan, occupied by the Russians went offline,
Speaker 1: causing a blackout in the region, and it has caused
Speaker 1: more fears of a nuclear disaster. In baseball, the Yankees
Speaker 1: beat the A's thirteen four, The Mets beat the Rockies
Speaker 1: three one. The Red Sox lost the Orioles one. There
Speaker 1: is United NFL preseason action is lost to the Texans. Seventeen.
Speaker 1: ZIP Global News twenty four hours a day on air
Speaker 1: and on Bloomberg Quicktake, powered by more than twenty seven
Speaker 1: hundred journalists and analysts more than a hundred twenty countries.
Speaker 1: I'm Michael Barb. This is Bloomberg, Nathan. Thanks Michael. It's
Speaker 1: six nineteen on Wall Street Live from the Bloomberg Interactive
Speaker 1: Broker Studios. This is Bloomberg day Break. Just a little
Speaker 1: more than three and a half hours away now from
Speaker 1: FED Chair J. Pale's keynote address at the Jackson Hole
Speaker 1: Economic Symposium. Ahead of that, we are joined now by
Speaker 1: David Rosenberg, the president and chief economist of Rosenberg Research
Speaker 1: and Associates. David, what will we hear from J pal today? Well,
Speaker 1: I think we're probably going to hear that he's gonna
Speaker 1: explain what data dependency really means. That took him so
Speaker 1: long to explain what transitory meant, and then today he
Speaker 1: will lay bar what data dependency meant. Of course, a
Speaker 1: term that you brought up at the last death MC
Speaker 1: meeting that might have been misconstrued. So I think he's
Speaker 1: going to basically say that, you know, the battle against
Speaker 1: inflation has not been one yet in DAEDA, dependency on
Speaker 1: this regard means more than just one month of relatively
Speaker 1: denin CPI and course CPI prints that the set's gonna
Speaker 1: have to see a string of these source of numbers
Speaker 1: and convinced that we are on the road back towards
Speaker 1: the two holy grail target. So I think that's what
Speaker 1: we'll hear more from them about flushing out what data
Speaker 1: dependency really means. Is that the right definition of data dependency.
Speaker 1: Given that the Federal Reserve got transitory inflation apparently wrong. Well,
Speaker 1: it all depends, uh know, your definition of transitory, because
Speaker 1: there is no real definition in terms of the time stamp.
Speaker 1: As it turns out, transitory really meant, you know, sixteen
Speaker 1: months of accelerating inflation. I think that inflation, the trend
Speaker 1: has broken. It's very interesting to me that the New
Speaker 1: York Fed, really on the eve of the Jackson Hoole Symposium,
Speaker 1: comes out and says that the supply bottle neck measures
Speaker 1: have receded to their lowest levels of January. Now, it
Speaker 1: wasn't just supply measures that caused the inflation, but all
Speaker 1: the demand stimulus that precipitated the inflation, especially the fiscal
Speaker 1: and mon terry stimulus, is in the rear view mirror.
Speaker 1: But the bottom line is that the Fed is embarrassed.
Speaker 1: They're ashamed they did miss even the transitory mints sixteen months. Uh,
Speaker 1: they missed it, and so the clock is gonna rewind
Speaker 1: the other way. They are going to overdo the tightening
Speaker 1: as they overdid the stimulus. And the upflom C minutes
Speaker 1: that came out recently, so very clearly that the Fed
Speaker 1: is willing to put the economy as a sacrificial lamb
Speaker 1: in terms of demand destruction to get the inflation down
Speaker 1: to where they wanted. And I think that's what comes
Speaker 1: out of all this. So I think, look, the bottom
Speaker 1: line is that you know you're asking me about what
Speaker 1: what what he is gonna say? He's had all his
Speaker 1: uh f MC brethren come out the biggest doves, whether
Speaker 1: it's a scary or it's daily or at Evans, never
Speaker 1: mind Bullard and the rest of them. They're all talking
Speaker 1: very offishly. So his colleagues on the uplom see, you've
Speaker 1: already blazed the trail for what's going to be I
Speaker 1: think a rather hawkish um rhetoric today coming out of
Speaker 1: his speech. What's it gonna take then for the to
Speaker 1: pivot from a hockey's stance to something more devish? What
Speaker 1: data are they going to be? Depending on? I think
Speaker 1: they would They have to see a string? Is it
Speaker 1: three months? Four months, five months, six months? That's sort
Speaker 1: of a string of of the very low like the
Speaker 1: old days. Zero point one point to prints not just
Speaker 1: on the CPI but the core CPI. We know the
Speaker 1: CPI is going to be contained because of what's happened
Speaker 1: on the energy side. Uh. And I think if we
Speaker 1: get several months of these sorts of numbers, that puts
Speaker 1: them on hold. Outside of that, look, they're they're putting
Speaker 1: everything on the economy. All their cards on the table
Speaker 1: come down to the labor market. Uh. They are were
Speaker 1: spring at the altar non farm payrolls. Uh. They don't
Speaker 1: truss the household survey, small sample tends to be volatile.
Speaker 1: They're looking at the job openings from the JOLT survey.
Speaker 1: I think that once you start to see negative prints,
Speaker 1: if we start to see negative prints and not farm payrolls,
Speaker 1: the game is over. Uh. So that would be the
Speaker 1: other data release. They'll cost them to go on hold.
Speaker 1: Just about thirty seconds left here, David. Does the FED
Speaker 1: get back to a two percent inflation target or do
Speaker 1: we need to be looking at a new floor for inflation.
Speaker 1: I don't see the case. I know everybody says that.
Speaker 1: Everybody says that service sector pricing is sticky. Uh. You
Speaker 1: know the rental measures, the rental measures are imputed. They
Speaker 1: will ultimately adjust with the lag. But I think that
Speaker 1: the overall price level is going to be a lot higher.
Speaker 1: The cost structure is going to be a lot higher.
Speaker 1: But inflation is a rate of change, it's not a
Speaker 1: level um. So we do believe that more quickly than
Speaker 1: what the markets at priced in. That inflation is going
Speaker 1: to come pretty quickly. Not the price level, but the
Speaker 1: rate of change is when it subside very sharply. And
Speaker 1: that even under Volker, you know, and we have a
Speaker 1: modern day Volca on our hands right now. Uh certainly
Speaker 1: came down. I'm not saying the next year, but in
Speaker 1: the next two years the place is gonna come back
Speaker 1: down to target. All right. Thanks for this, David, great
Speaker 1: getting your thoughts ahead of fedshare pwell speech ten am.
Speaker 1: Wall Street Time. We'll have it live for you here
Speaker 1: on Bloomberg Radio. David Rosenberg, President and chief economist at
Speaker 1: Rosenberg Research and Associates, joining us this morning on Bloomberg
Speaker 1: Daybreak Bloomberg eleven three oh weather, sunshine, some showers and
Speaker 1: storms developing this afternoon. We'll get up to near ninety degrees,
Speaker 1: will be in the oper eighties through the weekend, with
Speaker 1: a mix of sunning clouds tomorrow and sunshine prevailing on Sunday.
Speaker 1: Right now seventy six in Central Park Markets, headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business Out and at Bloomberg Quick Tape. This
Speaker 1: is a Bloomberg Business Flash and I'm Karen Moscow. Futures
Speaker 1: are following this morning and we go to the first
Speaker 1: word breaking newsdask for today's morning call. Here's film at
Speaker 1: Onny Build. Good morning, Hey, good morning, Karen. That's right.
Speaker 1: US features are in the red. FU yesterday's strong clothes
Speaker 1: without futures down ninety eight point says to be strop
Speaker 1: eighteen and as that futures declined by seventy four. The
Speaker 1: US ten year old at three point oh seven percent,
Speaker 1: gold is down eleven oil is in the green, and
Speaker 1: bigcoin trading lower by one percent. Hong Kong jumped one
Speaker 1: point one percent overnight, while your pre markets are in
Speaker 1: the red this morning, and back in the US on
Speaker 1: the economic front at a thirty person income and pc
Speaker 1: E and at ten o'clock, Fits Powell speaks at Jackson
Speaker 1: Hole after the Bells night work Day reported shares are
Speaker 1: up eleven percent pre market and the firm holdings is
Speaker 1: down thirteen percent. In deal news, merch talks to acquire
Speaker 1: Siegen are said to hit a snag over price and
Speaker 1: wrapping things up, Union Pacific was put to neutral. Over
Speaker 1: at Diowa Live from First Breaking News descom Bill Maloney. Karen,
Speaker 1: all right, Bill, thank you, and to hear live breaking
Speaker 1: news over your Bloomberg type squawk on your terminal, I'll
Speaker 1: ask you a w K and that's a Bloomberg business flash.
Speaker 1: Here's Michael Barr with more on what's going on around
Speaker 1: the world. Karen, thank you very much. By noon, the
Speaker 1: Justice Department is set to release a heavily redacted affidavit
Speaker 1: explaining the justification for an FBI search of Donald Trump's
Speaker 1: Florida state Earlier this month, agents removed top secret government
Speaker 1: records and other classified documents. Russian President Vladimir Putin appears
Speaker 1: to be trying to replenish his military by ordering a
Speaker 1: thirteen percent increase in the country's troops strength. Russian forces
Speaker 1: have suffered heavy losses in six months of war in Ukraine.
Speaker 1: In baseball, the Yankees beat the A's thirteen four, the
Speaker 1: mad Speed the Rockies three one. The Red Sox lost
Speaker 1: the Orioles one Thursday night NFL preseason action. The forty
Speaker 1: nine is lost to the Texans seventeen. ZIP Global news
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven hundred journalist analysts more
Speaker 1: than a hundred twenty countries. Michael Barr and this is Bloomberg, Karen, Michael,
Speaker 1: thank you. It is six one on Wall Street and
Speaker 1: we turned to news and science and technology now at
Speaker 1: the Bloomberg and j I T STEM Report. It has
Speaker 1: brought to you buy New Jersey Institute of Technology n
Speaker 1: j i T makes industry ready engineers and more than
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Speaker 1: Learn more at n j I T dot E d
Speaker 1: U and here's just making news and science, technology, engineering
Speaker 1: and math. NASA is aiming to use Boeing Starliner space
Speaker 1: vehicle for a crude mission to the International Space Station
Speaker 1: as soon as February. According to the agency, the plant
Speaker 1: eight day mission would be the star Liner's first with
Speaker 1: astronauts on board, a major milestone in its development, which
Speaker 1: has suffered several setbacks. Houdi is joining Formula one with
Speaker 1: hopes to bolster its brand. Formula one intends to switch
Speaker 1: to cars running on synthetic fuel as part of a
Speaker 1: plan to become carbon neutral by the end of the decade.
Speaker 1: The car maker will make a decision on which team
Speaker 1: to partner with by the end of the year. And
Speaker 1: Afghanistan Central Bank imposed a nationwide ban on cryptocurrencies this month,
Speaker 1: and a Taliban has arrested several dealers who defined orders
Speaker 1: to stop trading digital tokens. According to a senior police official,
Speaker 1: the crackdown comes after some Afghans turned to crypto to
Speaker 1: preserve wealth and keep it out of the Taliban's reach.
Speaker 1: And as a Bloomberg and j A t Stem report, Nathan,
Speaker 1: all right, Karen, thank you. We are live from the
Speaker 1: Bloomberg Interactive Brokers studios where it's six fifty on Wall Street.
Speaker 1: Time now to check what's going on in d C.
Speaker 1: Some of the top stories in our nation's capital include
Speaker 1: President Biden touting debt relief and climate wins in a
Speaker 1: test of his mid term message, a third congressional trip
Speaker 1: to Taiwan this months during China tensions, and the FBI's
Speaker 1: Trump search affidavit to be unsealed with redactions. Bloomberg government
Speaker 1: reporter Emily Wilkins joins US now from our studios in
Speaker 1: the nation's capital for more on all these stories. Emily.
Speaker 1: Looks like the mid term campaign is officially underway now
Speaker 1: for President Biden. Oh yeah, I mean certainly. Biden has
Speaker 1: been trying to get out of DC and hit the
Speaker 1: campaign trail for a while now, but now he's really
Speaker 1: hoing in on his message now that we're in the
Speaker 1: final stretch. Um, he's casting the election as yet another
Speaker 1: battle for democracy. At a rally in Rockhael, Maryland yesterday,
Speaker 1: he called Republicans semi fascists and really kind of hit
Speaker 1: home the fact that it's calling a lot of the
Speaker 1: candidates extreme. He's also trying to tell a democratic message
Speaker 1: of just a wide variety of things, um, preventing gun violence,
Speaker 1: allowing access to abortion, addressing climate change. Here's the thing, though,
Speaker 1: Nathan Biden does still remain pretty unpopular with the American public.
Speaker 1: Only of Americans approved of his job performance rating according
Speaker 1: to US looking up at polls up. That's slightly up
Speaker 1: from July, but but overall still pretty low. And the
Speaker 1: projection is that Republicans are still going to win the
Speaker 1: House in the November midterms. It's just previously it looked
Speaker 1: like they were going to win the House by huge margin.
Speaker 1: Now it seems like that margin might be a little
Speaker 1: bit smaller. Yeah, it does seem as though the momentum
Speaker 1: has shifted, particularly after that highly watched race in Hudson Valley,
Speaker 1: New York that focused on abortion rights. How are Republicans
Speaker 1: looking to try to regain some of their earlier momentum
Speaker 1: when they were focused so much on you know, how
Speaker 1: rough the economy is right now? So a lot of
Speaker 1: the Republicans message still applies. Right Inflation is still at
Speaker 1: a historic high, there's still high prices in the grocery store,
Speaker 1: and for rents and mortgages, even though gas prices have
Speaker 1: come down, And so Republicans can still point to those
Speaker 1: things and say, hey, look, you know this is Biden's
Speaker 1: policies that have led us here, and we need someone new.
Speaker 1: Republicans also have an advantage. Mid Terms tend to be
Speaker 1: a little bit better for the party that's not currently
Speaker 1: in power. But Republicans also have their own struggles here.
Speaker 1: They have a number of their Senate candidates who are
Speaker 1: behind in the polls, who have dealt with a number
Speaker 1: of personal conflicts or have been under criticism for how
Speaker 1: they run their campaigns. And now you've also got this
Speaker 1: whole affidavit that's being released today on the search warrant
Speaker 1: that the FBI used to search the Marrow Trump's Mara
Speaker 1: Lago residents. And so there's a lot of factors I
Speaker 1: think that are up in the air that we're really
Speaker 1: going to see how they play out in the next
Speaker 1: several months. But at this point, Democrats are basically looking
Speaker 1: at as good as they have all year, and they
Speaker 1: kind of have this new confidence boost that might not
Speaker 1: eventually let them keep both chambers of Congress, but could
Speaker 1: prevent them from facing massive Republican majorities. Since you brought
Speaker 1: up the Fidavid, let's talk about that now, because we
Speaker 1: are expecting at least a redacted affidavit from the Moral
Speaker 1: Lago search to be released sometime this morning. What are
Speaker 1: you going to be looking for from that, Emily, Yeah,
Speaker 1: so the federal judge has required that the Justice Department
Speaker 1: release it around noon or rather later than noon. So
Speaker 1: definitely good at keeping an eye out. It's a really
Speaker 1: good question, Nathan, as far as what you're going to
Speaker 1: be looking for. Certainly, the big question is why did
Speaker 1: the Justice Department? What is their investor aation? What documents
Speaker 1: were they looking for? Is there a larger reason for
Speaker 1: this and for what they're investigating Trump. And I think
Speaker 1: we're going to see trying to at least get some
Speaker 1: answers from the affidavit, but remember it's been redacted. The
Speaker 1: Department of Justice wanted to make sure that they weren't
Speaker 1: putting their entire investigation, which is still under way, into
Speaker 1: full view, and so they are going to be things
Speaker 1: that we're just not going to be able to access
Speaker 1: when this affidavit is released. Certainly, um, a lot of
Speaker 1: folks have been following this. There's obviously going to be
Speaker 1: a lot of analysis from Bloomberg about, you know, what
Speaker 1: we are and aren't learning, But there's still going to
Speaker 1: be a lot that's not quite clear because of those
Speaker 1: redactions that the Justice Department has asked for. And I'm
Speaker 1: sure you're gonna be looking for political impact as well,
Speaker 1: because former President Trump has really been trying to capitalize
Speaker 1: on the Maral Lago searches. He continues to figure out
Speaker 1: if and when he's going to announce another run for president. Oh, absolutely, Nathan,
Speaker 1: I mean this definitely goes into exactly how is going
Speaker 1: to be shape been up. You really saw the Republican
Speaker 1: Party come behind Trump and and very much support him
Speaker 1: after the search warrant was initially executed. But at the
Speaker 1: same point, there's still a lot of questions about what
Speaker 1: this could mean for Trump. Is he going to wind
Speaker 1: up being charged with something? How is that going to
Speaker 1: impact his ability to run in So again, just a
Speaker 1: lot of questions right now. Hopefully there will be some
Speaker 1: answers at noon today when we do see that redacted
Speaker 1: affidavit released in our last minute or so here, Emily,
Speaker 1: let's close out on geopolitics. It seems like Taiwan has
Speaker 1: been the destination to go to if you're a member
Speaker 1: of Congress during his resays. Oh yeah, we are now
Speaker 1: in the third delegation of lawmakers going to Taiwan, after
Speaker 1: Speaker Nancy Pelosi's historic trip earlier this month. I mean, honestly, Nathan,
Speaker 1: Congressional delegations to Taiwan are not exactly rare. A hundred
Speaker 1: and fifty houses and members have gone to Taiwan in
Speaker 1: the past decade, according to a Bloomberg analysis. Really Pelosi
Speaker 1: going though, it really led to a strong response from Beijing.
Speaker 1: You saw the planes, you saw the missile test, and
Speaker 1: that momentum has been kept up. You saw Senator Ed
Speaker 1: Markey lead a bipartisan to delegation to Taiwan. And now
Speaker 1: you're seeing Senator Marshall Blackburn, she met on Friday morning
Speaker 1: with Taiwan President ty See Titan when and it really
Speaker 1: shows Nathan the bipartisan nature of this, I mean, Blackburn's
Speaker 1: the Republican marks a Democrat. You really kind of have this,
Speaker 1: this bipartisan support for Taiwan and this kind of willingness
Speaker 1: for lawmakers to go there even though it has aggravated Beijing. Yeah,
Speaker 1: thanks for this as always, Emily Wilkins of Bloomberg Government
Speaker 1: giving us all the latest on politics domestically and globally
Speaker 1: from the nation's capital. And you can read more about
Speaker 1: all these stories on Bloomberg dot com or on the
Speaker 1: Bloomberg terminal. Listen to Bloomberg Radio in Washington Bloomberg and
Speaker 1: one oh five point seven FM HD two. You'll want
Speaker 1: to keep it locked as week of continue with on
Speaker 1: site coverage of the Jackson Whole Symposium that's actually getting
Speaker 1: underway once again in just minutes. Here with a special
Speaker 1: edition of Bloomberg Surveillance Live from Wyoming with Tom Keene,
Speaker 1: Jonathan Farrell, and Lisa abrama Witz Ahead of Chairman Pal's
Speaker 1: keynote address in Jackson Hole will have that for you
Speaker 1: live beginning right around ten am Wall Street time, and
Speaker 1: ahead of it, lots of FED speakers will be speaking
Speaker 1: to the surveillance team. So keep it right here for
Speaker 1: full coverage of the Jackson Hole event. SMP futures right
Speaker 1: now down eighteen points, DAL futures down, n NASDAC futures
Speaker 1: are lower by seventy two points. The tenure treasuries down
Speaker 1: twelve thirty seconds, the yield three point zero seven percent.
Speaker 1: For Karen Moscow, I'm Nathan Hager. Have a great Friday.
Speaker 1: This is Bloomberg