1 00:00:02,600 --> 00:00:05,840 Speaker 1: B from the Bloomberg Interactive Broker Studios. This is Bloomberg 2 00:00:05,880 --> 00:00:09,640 Speaker 1: day Break for Tuesday, October four. Coming up this hour, 3 00:00:09,920 --> 00:00:13,000 Speaker 1: the global equity rally continues for a second day. We 4 00:00:13,080 --> 00:00:15,960 Speaker 1: are in Europe and Asia with the latest. Investors are 5 00:00:16,000 --> 00:00:19,480 Speaker 1: wagering central banks may slow the pace of monetary tightening, 6 00:00:19,600 --> 00:00:23,119 Speaker 1: and the Biden administration plans new restrictions on China's access 7 00:00:23,120 --> 00:00:26,599 Speaker 1: to US semiconductor technology. New York City is relocating a 8 00:00:26,720 --> 00:00:30,680 Speaker 1: humanitarian relief center intended for asylum seekers and queens. Plus, 9 00:00:30,720 --> 00:00:34,680 Speaker 1: North Korea launches a missile test over Japan. Michael Warner. 10 00:00:34,800 --> 00:00:37,760 Speaker 1: More ahead, I'm John stas shower and sports. A Yankee 11 00:00:37,840 --> 00:00:40,000 Speaker 1: flirted with a no hither to win at Texas one 12 00:00:40,000 --> 00:00:44,760 Speaker 1: of Night Football, The forty nine Beat the Round. That's 13 00:00:44,760 --> 00:00:48,159 Speaker 1: All's training. Head on Bloomberg day Break on Bloomberg E 14 00:00:48,200 --> 00:00:51,960 Speaker 1: Live in freon New York, Bloomberg nine one, Washington, d C, 15 00:00:52,440 --> 00:00:56,720 Speaker 1: Bloomberg one oh six one, Boston, Bloomberg nine sixties and Francisco, 16 00:00:57,200 --> 00:01:00,000 Speaker 1: Syrius x M one nine Team and around the world 17 00:01:00,000 --> 00:01:03,080 Speaker 1: Old on Bloomberg Radio dot Com and via the Bloomberg 18 00:01:03,120 --> 00:01:11,080 Speaker 1: Business Side. He Good morning, I'm Karen Moscow. I'm Nathan Hager. 19 00:01:11,080 --> 00:01:14,160 Speaker 1: Bloomberg Daybreak is brought to you by SEI. Asset managers 20 00:01:14,160 --> 00:01:16,000 Speaker 1: don't get results that are off the charts when their 21 00:01:16,040 --> 00:01:18,800 Speaker 1: solutions are off the shelf. Learn how SEI is operating 22 00:01:18,840 --> 00:01:23,200 Speaker 1: platform can turn infrastructure into a competitive advantage at se 23 00:01:23,200 --> 00:01:26,320 Speaker 1: i C, dot Com, slash Tech and US futures are 24 00:01:26,400 --> 00:01:28,480 Speaker 1: higher this morning six out what on Wall Street. We 25 00:01:28,560 --> 00:01:30,960 Speaker 1: check the markets every fifteen minutes throughout the trading day. 26 00:01:31,040 --> 00:01:34,039 Speaker 1: On Bloomberg, SMP future is at fifty seven points down, 27 00:01:34,080 --> 00:01:37,120 Speaker 1: futures up three hundred seventy seven, NAZAC futures up two 28 00:01:37,319 --> 00:01:40,679 Speaker 1: d and the tenure treasury of fifteen thirty seconds he'll 29 00:01:40,720 --> 00:01:43,319 Speaker 1: three point five seven per cent and the yield on 30 00:01:43,360 --> 00:01:46,119 Speaker 1: the two years at four percent. Nathan Karen. This morning's 31 00:01:46,160 --> 00:01:48,520 Speaker 1: gain in futures follows the best day for US stocks 32 00:01:48,520 --> 00:01:51,040 Speaker 1: in two months. The S and P five indecks close 33 00:01:51,120 --> 00:01:54,640 Speaker 1: higher by two point six percent. Week manufacturing data helps 34 00:01:54,680 --> 00:01:56,600 Speaker 1: for the rally. Some see it as assigned the Fed 35 00:01:56,640 --> 00:01:59,720 Speaker 1: could soften its approach to rate hikes. Abe desh Ponde 36 00:01:59,880 --> 00:02:03,720 Speaker 1: is chief investment officer at Center Stone. The fundamentals as 37 00:02:03,720 --> 00:02:07,240 Speaker 1: far as the groundwork for a new boat market are there. 38 00:02:07,280 --> 00:02:10,160 Speaker 1: You just don't have the valuations are quite there yet. 39 00:02:10,160 --> 00:02:12,359 Speaker 1: And he's certainly don't have the cattlest yet. But I 40 00:02:12,639 --> 00:02:14,560 Speaker 1: don't see. I don't see that, you know, a huge 41 00:02:14,600 --> 00:02:17,360 Speaker 1: collapse or a calamity or anything like that. Center Stones 42 00:02:17,440 --> 00:02:20,519 Speaker 1: Abbi Deshponde believes core inflation has already peaked, hitting a 43 00:02:20,600 --> 00:02:23,840 Speaker 1: high point in February. Well. Despite some optimism that the 44 00:02:23,840 --> 00:02:27,040 Speaker 1: Fed made turn in Devish Nathan, central bank officials continue 45 00:02:27,080 --> 00:02:29,399 Speaker 1: to bang the drum for more rate hikes. New York 46 00:02:29,400 --> 00:02:32,320 Speaker 1: Fed President John Williams says tightening still has a significant 47 00:02:32,320 --> 00:02:34,840 Speaker 1: way to go. He's one of five FED officials speaking 48 00:02:34,840 --> 00:02:37,520 Speaker 1: at events today Here at Any Research president ed your 49 00:02:37,600 --> 00:02:40,000 Speaker 1: Denny said the Feds should hike one more time and 50 00:02:40,040 --> 00:02:45,760 Speaker 1: then end it's tightening cycle. I'm totally stumped, mystified, surprised 51 00:02:46,320 --> 00:02:51,080 Speaker 1: that Fed officials don't seem to acknowledge that just focusing 52 00:02:51,120 --> 00:02:53,360 Speaker 1: on the FED funds rate as part of the monetary 53 00:02:53,400 --> 00:02:56,520 Speaker 1: tightening cycle is a mistake. When you also have QT 54 00:02:56,680 --> 00:03:00,760 Speaker 1: two and you have a soaring dollar, these are very 55 00:03:00,800 --> 00:03:04,400 Speaker 1: restrictive monetary developments. Here at Any Research President Nadia or 56 00:03:04,440 --> 00:03:07,280 Speaker 1: Danny says the fed's final rate hike should be next month. 57 00:03:07,400 --> 00:03:09,920 Speaker 1: We'll start star rallying across the globe this morning, Karen. 58 00:03:09,960 --> 00:03:13,400 Speaker 1: In Asia, overnight equities posted their biggest daily advanced since March. 59 00:03:13,600 --> 00:03:16,799 Speaker 1: Let's get the recap from Bloomberg's Juliette Sally in Singapore. 60 00:03:16,800 --> 00:03:19,680 Speaker 1: Good morning, Juliette, Good morning, Nathan and Karen. Australia's benchmark 61 00:03:19,760 --> 00:03:22,320 Speaker 1: jumped as much as three point six percent, the most 62 00:03:22,360 --> 00:03:24,840 Speaker 1: in more than two years, after the country's central Bank 63 00:03:24,880 --> 00:03:27,880 Speaker 1: delivered a smaller than expected interest rate hike, while three 64 00:03:27,960 --> 00:03:30,040 Speaker 1: year bond yields slumped the most since the rb A 65 00:03:30,200 --> 00:03:32,959 Speaker 1: cut rates heading into the global financial crisis in two 66 00:03:33,000 --> 00:03:36,280 Speaker 1: thousand and eight. Japanese stock surge, with the benchmark topics 67 00:03:36,360 --> 00:03:40,000 Speaker 1: rising around three percent. Liquidity in the region was relatively thin, 68 00:03:40,120 --> 00:03:43,360 Speaker 1: with China and Hong Kong markets closed for a holiday. 69 00:03:43,400 --> 00:03:47,119 Speaker 1: In Singapore, Juliette Sally Bloomberg Daybreak A right, Juliette. Thanks. 70 00:03:47,160 --> 00:03:49,360 Speaker 1: So we're also seeing a rally in Europe this morning. 71 00:03:49,440 --> 00:03:51,640 Speaker 1: Let's go to London and get the latest from Bloomberg's 72 00:03:51,680 --> 00:03:53,920 Speaker 1: You and Parts. Good morning You, and good morning Cat 73 00:03:54,000 --> 00:03:56,440 Speaker 1: and Athan. European stocks in the green for a third 74 00:03:56,520 --> 00:03:58,960 Speaker 1: day to day, the benchmark stocks is under touching its 75 00:03:59,000 --> 00:04:03,840 Speaker 1: biggest gain seeds June, travel, technology and retail companies posting 76 00:04:03,880 --> 00:04:06,360 Speaker 1: some of the biggest jumps today. A quick look at 77 00:04:06,360 --> 00:04:09,200 Speaker 1: the grr function on the Bloomberg shows that all twenty 78 00:04:09,280 --> 00:04:12,560 Speaker 1: sectors are lovely shade of green today, and Credit Sweet 79 00:04:12,640 --> 00:04:15,480 Speaker 1: also gained this morning, a day after those wild durations 80 00:04:15,800 --> 00:04:18,360 Speaker 1: in the troubled lenders share price in London. I'm your 81 00:04:18,440 --> 00:04:20,240 Speaker 1: parts of Bloomberg day Break. All right you and thank you. 82 00:04:20,320 --> 00:04:21,800 Speaker 1: Let's stay in the UK now where it is the 83 00:04:21,839 --> 00:04:25,160 Speaker 1: third day of the Conservative Party's conference. Questions are swirling 84 00:04:25,160 --> 00:04:27,680 Speaker 1: over whether Prime Minister Liz Trust can rebound from the 85 00:04:27,720 --> 00:04:31,080 Speaker 1: political crisis created by last week's budget announcement. It's got 86 00:04:31,120 --> 00:04:33,320 Speaker 1: a Birmingham, England and get the latest from the conference 87 00:04:33,360 --> 00:04:36,520 Speaker 1: with Bloomberg day Break. You're a banker, Caroline Hepgerg, Good morning, Caroline, 88 00:04:36,560 --> 00:04:39,679 Speaker 1: Good morning, Nathan Karen. Some of Liz Trust's top team 89 00:04:39,720 --> 00:04:42,240 Speaker 1: have been telling Bloomberg that her project is dead in 90 00:04:42,279 --> 00:04:45,560 Speaker 1: the water already. A humiliating U turn on the top 91 00:04:45,680 --> 00:04:48,599 Speaker 1: rate of tax from the Chancellor Quasi Quaite has led 92 00:04:48,600 --> 00:04:51,600 Speaker 1: her own party to question her leadership which puts her 93 00:04:51,640 --> 00:04:55,240 Speaker 1: agenda in jeopardy. The Chancellor has promised to bring forwards 94 00:04:55,279 --> 00:04:59,360 Speaker 1: details of his fiscal plan and the independent watchdogs assessment 95 00:04:59,400 --> 00:05:03,000 Speaker 1: so that it shortly, but one former cabinet minister who 96 00:05:03,040 --> 00:05:05,440 Speaker 1: spoke to Bloomberg predicted the Prime Minister would be gone 97 00:05:05,440 --> 00:05:08,320 Speaker 1: within a year. Now. The question is how the government 98 00:05:08,400 --> 00:05:11,080 Speaker 1: can afford the tax cuts that it has promised, and 99 00:05:11,120 --> 00:05:14,720 Speaker 1: will the poorest in society see their wealthfare payments sacrificed 100 00:05:14,880 --> 00:05:17,760 Speaker 1: in order to balance the books. In Birmingham, I'm Carolan 101 00:05:17,800 --> 00:05:20,560 Speaker 1: head caffa Blue Big daybreak. All right, Caroline, thank you. 102 00:05:20,600 --> 00:05:23,039 Speaker 1: Back here in the US, US China relations are back 103 00:05:23,040 --> 00:05:25,559 Speaker 1: in focus. Bloomberg News has learned the White House plans 104 00:05:25,600 --> 00:05:29,720 Speaker 1: to announce new restrictions on Beijing's access to US semiconductor technology. 105 00:05:29,800 --> 00:05:32,680 Speaker 1: Details now from Bloomberg Jamie Morrison are not a none 106 00:05:32,680 --> 00:05:35,880 Speaker 1: one newsroom in Washington, members of Congress have been pushing 107 00:05:35,880 --> 00:05:40,320 Speaker 1: the White House to tighten controls around semiconductor equipment of China. Now, 108 00:05:40,360 --> 00:05:43,480 Speaker 1: sources tell Bloomberg News the Commerce Department will roll out 109 00:05:43,520 --> 00:05:47,440 Speaker 1: a package of rules this week, including formalizing restrictions on 110 00:05:47,560 --> 00:05:51,560 Speaker 1: technology to produce chips that are designated as fourteen nanometer 111 00:05:51,760 --> 00:05:54,440 Speaker 1: or better. It will prohibit the sale of tools for 112 00:05:54,560 --> 00:05:58,159 Speaker 1: logic and memory chip production in China and restrict access 113 00:05:58,200 --> 00:06:02,400 Speaker 1: to chips used in supercomputing and artificial intelligence in Washington. 114 00:06:02,480 --> 00:06:04,839 Speaker 1: I may me more as Bloomberg Daybreak, thank you Amy. 115 00:06:04,960 --> 00:06:07,560 Speaker 1: As the war in Ukraine rages on, Elon Musk is 116 00:06:07,600 --> 00:06:10,520 Speaker 1: weighing in. Recent Twitter posts have the test the CEO 117 00:06:10,640 --> 00:06:14,279 Speaker 1: drawing the wrath of Ukrainians, including President Vladimir's a landscape. 118 00:06:14,279 --> 00:06:19,000 Speaker 1: Bloomberg's Charlie Pellett explains those post surge Ukraine to seek 119 00:06:19,000 --> 00:06:22,520 Speaker 1: a negotiated solution to the invasion by Russia and to 120 00:06:22,720 --> 00:06:26,440 Speaker 1: seed Crimea for good. Must also launched a Twitter poll 121 00:06:26,560 --> 00:06:31,160 Speaker 1: asking citizens of occupied areas of eastern Ukraine plus Crimea 122 00:06:31,400 --> 00:06:34,839 Speaker 1: to decide if they want to live in Russia or Ukraine. 123 00:06:35,320 --> 00:06:39,200 Speaker 1: The survey comes as Ukraine, Europe and the US denounced 124 00:06:39,200 --> 00:06:43,640 Speaker 1: President Vladimir Putin's move to annex four regions and declare 125 00:06:43,640 --> 00:06:49,279 Speaker 1: them Russian territory in New York. Charlie Pellett Bloomberg Daybreak, Charlie, 126 00:06:49,320 --> 00:06:52,040 Speaker 1: thank you asked for Elon Musk's company Tesla plunged to 127 00:06:52,080 --> 00:06:54,720 Speaker 1: the most in four months yesterday after third quarter deliveries 128 00:06:54,760 --> 00:06:57,840 Speaker 1: missed estimates, and it looks like investor Cathy Wood took 129 00:06:57,839 --> 00:07:01,000 Speaker 1: that as a buying opportunity. Funds back Woods Ark Investment 130 00:07:01,040 --> 00:07:05,040 Speaker 1: Management bought more than one shares of Tesla yesterday and 131 00:07:05,160 --> 00:07:07,920 Speaker 1: marks the firm's first purchase of Tesla since mid June. 132 00:07:08,200 --> 00:07:10,760 Speaker 1: Tesla shares they are up three point one per cent 133 00:07:10,880 --> 00:07:14,040 Speaker 1: this morning, and again futures are higher. Straight ahead your 134 00:07:14,120 --> 00:07:18,119 Speaker 1: latest local headlines plus a check of sports, and this 135 00:07:18,560 --> 00:07:24,920 Speaker 1: is Bloomberg. Thank Karen. Six oh seven on Wall Street, 136 00:07:25,000 --> 00:07:27,720 Speaker 1: still raining, still forty five degrees in Central Park and 137 00:07:27,800 --> 00:07:30,600 Speaker 1: the westbound l I E is closed at Seaford Oyster 138 00:07:30,680 --> 00:07:34,679 Speaker 1: Bay Expressway. Wet Roads will do it. Michael barrs Scott 139 00:07:34,720 --> 00:07:36,240 Speaker 1: More on what's going on in New York and around 140 00:07:36,240 --> 00:07:39,000 Speaker 1: the world. Michael, thank you very much. Nathan. New York 141 00:07:39,000 --> 00:07:43,520 Speaker 1: City is relocating a humanitarian relief center intended for asylum 142 00:07:43,560 --> 00:07:47,480 Speaker 1: seekers bust up from Texas and southern border states. The 143 00:07:47,560 --> 00:07:50,080 Speaker 1: proposed Tens City at Orchard Beach and the Bronx has 144 00:07:50,080 --> 00:07:53,520 Speaker 1: become a magnet for anti immigration protests and for people 145 00:07:53,560 --> 00:07:56,080 Speaker 1: who are concerned about the migrants. The city plans the 146 00:07:56,120 --> 00:07:59,320 Speaker 1: house at that facility. New York Mayor Eric Adams says 147 00:07:59,360 --> 00:08:03,040 Speaker 1: the city is a floring solutions for the incoming asylum seekers. 148 00:08:03,240 --> 00:08:06,200 Speaker 1: We are not going to be afraid to try different 149 00:08:06,240 --> 00:08:10,760 Speaker 1: things to solve these unprecedented um problems that we're facing 150 00:08:10,800 --> 00:08:13,920 Speaker 1: in the city. Mayor Adams says the migrants will be 151 00:08:14,000 --> 00:08:17,680 Speaker 1: sent to Randall's Island after concerns about flooding issues in 152 00:08:17,840 --> 00:08:21,040 Speaker 1: Orchard Beach. North Korea has fired a ballistic missile over 153 00:08:21,120 --> 00:08:24,240 Speaker 1: Japan for the first time in five years, forcing Japan 154 00:08:24,320 --> 00:08:28,840 Speaker 1: to issue evacuation notices and suspend trains during the flight 155 00:08:29,040 --> 00:08:31,720 Speaker 1: of the nuclear capable weapon that could reach the U 156 00:08:31,880 --> 00:08:35,280 Speaker 1: s territory of Guam and beyond. The US said it 157 00:08:35,440 --> 00:08:40,480 Speaker 1: strongly condemned North Korea's dangerous and reckless decision. Cheryl Sandberg, 158 00:08:40,480 --> 00:08:43,360 Speaker 1: who once sparred with the American Civil Liberties Union, is 159 00:08:43,440 --> 00:08:47,040 Speaker 1: now one of its biggest manufactors, providing a three million 160 00:08:47,080 --> 00:08:51,120 Speaker 1: dollar grant to boost its political activities around access to abortion. 161 00:08:51,640 --> 00:08:55,480 Speaker 1: The gift from the former Meta Platform CEO, which will 162 00:08:55,480 --> 00:08:58,360 Speaker 1: be announced today, is one of the biggest abortion rights 163 00:08:58,360 --> 00:09:01,320 Speaker 1: grants ever received by the one two year old nonprofit. 164 00:09:01,800 --> 00:09:05,280 Speaker 1: President Biden and First Lady Jill Biden, toured Puerto Rico, 165 00:09:05,360 --> 00:09:09,920 Speaker 1: ravaged by Hurricane Fiona. The President offered reassurance the federal 166 00:09:09,960 --> 00:09:13,319 Speaker 1: government will help the U. S. Territory rebuild. We're gonna 167 00:09:13,320 --> 00:09:17,079 Speaker 1: make sure you get every single dollar promise, and I'm 168 00:09:17,120 --> 00:09:19,720 Speaker 1: determined to help Puerto Rico bill faster than in the 169 00:09:19,800 --> 00:09:23,400 Speaker 1: past and stronger and better prepared for the future. Tomorrow. 170 00:09:23,440 --> 00:09:26,679 Speaker 1: President Biden plans to visit Florida, hit by Hurricane Ian. 171 00:09:27,160 --> 00:09:29,959 Speaker 1: Florida Governor Around the Santist pushed back when asked about 172 00:09:29,960 --> 00:09:33,800 Speaker 1: evacuation measures in Lee County ahead of Ian. County officials 173 00:09:33,880 --> 00:09:37,560 Speaker 1: have come under question for ordering evacuations too late after 174 00:09:37,679 --> 00:09:40,360 Speaker 1: Ian storm track made a late turn south for a 175 00:09:40,400 --> 00:09:44,880 Speaker 1: more direct hit. Stop stop stop. Okay, it's been This 176 00:09:44,960 --> 00:09:47,160 Speaker 1: has been dealt with. The Lee County has explained what 177 00:09:47,200 --> 00:09:50,640 Speaker 1: they did, they went through that. Governor de Santists later 178 00:09:50,679 --> 00:09:53,520 Speaker 1: said the state will, of course look over the evacuations. 179 00:09:53,800 --> 00:09:56,320 Speaker 1: Global News twenty four hours a day on airrand on 180 00:09:56,360 --> 00:09:59,800 Speaker 1: Bloomberg Quick Take power by more than journalists, analysts more 181 00:09:59,800 --> 00:10:02,959 Speaker 1: than a twenty countries. I'm Michael Barr. This is Bloomberg Naked. 182 00:10:03,000 --> 00:10:09,640 Speaker 1: Thank you, Michael. Just about six ten on Wall Street, 183 00:10:09,640 --> 00:10:12,080 Speaker 1: time for the Bloomberg Sports Uthday with John Stow. Thanks 184 00:10:12,120 --> 00:10:15,080 Speaker 1: day to the Yankees. First series in Arlington, Texas since 185 00:10:15,160 --> 00:10:18,520 Speaker 1: Corey Cloomer's no hitter there last season, and almost another 186 00:10:18,600 --> 00:10:22,080 Speaker 1: Yankee no hitter, Luis Severino would have taken it into 187 00:10:22,080 --> 00:10:24,800 Speaker 1: the eighth inning, but Aaron Boone took Severino out after 188 00:10:24,880 --> 00:10:28,199 Speaker 1: ninety four pitchers pitches. Rangers broke up the no hitter, 189 00:10:28,240 --> 00:10:29,920 Speaker 1: but the Yanks one three to one home runch John 190 00:10:29,960 --> 00:10:32,960 Speaker 1: Carlos Stanton, Marwin Gonzalez not Aaron judge, He's still at 191 00:10:33,000 --> 00:10:36,280 Speaker 1: sixty one. Yanks and Rangers playing a doubleheader today. Mets 192 00:10:36,280 --> 00:10:38,520 Speaker 1: and Nationals will play two at city Field after last 193 00:10:38,600 --> 00:10:41,160 Speaker 1: night rain. Now Atlanta off the sweep of the Mets 194 00:10:41,200 --> 00:10:43,480 Speaker 1: had only four hits lost in Miami, four nothing, but 195 00:10:43,559 --> 00:10:45,719 Speaker 1: the Braves magic number to win the NL East is 196 00:10:45,760 --> 00:10:48,720 Speaker 1: still only one, which would mean him met wild Card 197 00:10:48,800 --> 00:10:52,120 Speaker 1: series this weekend at city Field. Mets hoping that Starling 198 00:10:52,200 --> 00:10:54,240 Speaker 1: Marte will be able to play. They have missed his 199 00:10:54,360 --> 00:10:56,880 Speaker 1: bat out the last four weeks with a broken fingers. 200 00:10:56,920 --> 00:10:59,200 Speaker 1: Seventy eight year old Hall of Famer Tony LaRusso says 201 00:10:59,559 --> 00:11:01,960 Speaker 1: this for retirement is final. He was out of managing 202 00:11:01,960 --> 00:11:04,560 Speaker 1: for a decade and returned to manage the White Soft 203 00:11:04,640 --> 00:11:07,400 Speaker 1: now stepping down. He had had health issues. Mother Night 204 00:11:07,400 --> 00:11:11,200 Speaker 1: Football big plays carried the forty niner trows hit card 205 00:11:11,360 --> 00:11:15,480 Speaker 1: five Dego, Samuel Bike some tackle, forty Tebow thirty five, 206 00:11:15,559 --> 00:11:29,600 Speaker 1: twenty five twenty bricks tackles. Sister called that fifty seven 207 00:11:29,679 --> 00:11:32,280 Speaker 1: yard touchdown came after a thirty two yard TV run 208 00:11:32,360 --> 00:11:35,000 Speaker 1: by Jeff Wilson and before a fifty two yard pick 209 00:11:35,080 --> 00:11:38,760 Speaker 1: sixty beat the Rams. Nine Garian's getting ready to fly 210 00:11:38,920 --> 00:11:41,000 Speaker 1: to London to play Green Base Sunday. They're both three 211 00:11:41,040 --> 00:11:44,440 Speaker 1: and one QB. Daniel Jones's ankle injury said to be improving. 212 00:11:44,640 --> 00:11:48,480 Speaker 1: John Stashatward Bloomberg Sports NCO thanks John SMP futures right 213 00:11:48,520 --> 00:11:51,880 Speaker 1: now are up sixty points down. Futures of four two now. 214 00:11:52,000 --> 00:11:55,199 Speaker 1: Nastac features are higher by two twenty nine points. The 215 00:11:55,240 --> 00:11:58,199 Speaker 1: tenure treasury is up fifteen thirty seconds. For ye'll just 216 00:11:58,400 --> 00:12:02,520 Speaker 1: shy of three point five percent. You're listening to Bloomberg 217 00:12:02,600 --> 00:12:09,480 Speaker 1: Day Rain Bloomberg eleven three oh weather, cloudy, occasional showers 218 00:12:09,480 --> 00:12:12,319 Speaker 1: and rain today, breezy highs only in the upper fifties showers, 219 00:12:12,360 --> 00:12:14,719 Speaker 1: and tomorrow we'll get into the low sixties, back in 220 00:12:14,800 --> 00:12:17,679 Speaker 1: the sunshine and low seventies on Thursday. Right now, rain 221 00:12:17,760 --> 00:12:24,160 Speaker 1: and forty in Central Park Markets, headlines and breaking news 222 00:12:24,320 --> 00:12:26,920 Speaker 1: twenty four hours a day at Bloomberg dot Com, the 223 00:12:26,960 --> 00:12:31,079 Speaker 1: Bloomberg Business Atland at Bloomberg Quick Take, He's a Bloomberg 224 00:12:31,200 --> 00:12:39,880 Speaker 1: business flash and I'm Karen Moscow. And a rally and 225 00:12:39,920 --> 00:12:42,920 Speaker 1: global markets is extending into a second day. That's lifting 226 00:12:43,000 --> 00:12:45,800 Speaker 1: US dock ind Next futures as well as European shares. 227 00:12:45,880 --> 00:12:49,160 Speaker 1: As investors wags, central banks will have to slow the 228 00:12:49,200 --> 00:12:52,360 Speaker 1: pace of monetary tightening. We check the markets every fifteen 229 00:12:52,400 --> 00:12:54,839 Speaker 1: minutes throughout the trading day on Bloomberg s and P 230 00:12:55,040 --> 00:12:58,400 Speaker 1: futures up sixty three points now features up four four 231 00:12:58,760 --> 00:13:01,480 Speaker 1: PASDACK futures up two hundred thirty nine. The decks in 232 00:13:01,600 --> 00:13:04,800 Speaker 1: Germany is up three point one percent. Can your treasury 233 00:13:04,880 --> 00:13:07,600 Speaker 1: up sixteen thirty seconds? You have three point five seven percent. 234 00:13:07,720 --> 00:13:10,679 Speaker 1: They yield them a two years at four percent. NIMEX 235 00:13:10,679 --> 00:13:13,120 Speaker 1: screwed oil is up nine tenths percent, or seventy eight 236 00:13:13,200 --> 00:13:15,440 Speaker 1: cents at eighty four dollars forty one cents a barrel. 237 00:13:15,679 --> 00:13:18,040 Speaker 1: Comics gold up nine tenths per cent or fifteen dollars 238 00:13:18,120 --> 00:13:22,280 Speaker 1: forty cents at seventeen seventeen fifty announce. The euro point 239 00:13:23,000 --> 00:13:25,240 Speaker 1: six against the dollar, British found one point one three 240 00:13:25,320 --> 00:13:27,680 Speaker 1: six five and the yen one forty four point seven 241 00:13:27,800 --> 00:13:31,520 Speaker 1: one and bigcoin is up one eight percent at nineteen thousand, 242 00:13:31,600 --> 00:13:34,720 Speaker 1: nine hundred fifty dollars as of Bloomberg Business Flash. Now 243 00:13:34,760 --> 00:13:37,040 Speaker 1: here's Michael Barr with more on what's going on around 244 00:13:37,040 --> 00:13:40,400 Speaker 1: the world. Muchael Karen, thank you very much. North Korea 245 00:13:40,480 --> 00:13:42,800 Speaker 1: fire a missile over Japan for the first time in 246 00:13:42,960 --> 00:13:46,800 Speaker 1: five years, further ratcheting up tensions over Kim joan UN's 247 00:13:46,840 --> 00:13:49,800 Speaker 1: nuclear program and prompting a rare public safety warning to 248 00:13:49,840 --> 00:13:52,840 Speaker 1: be issued by Tokyo. The U. S. Supreme Court began 249 00:13:52,920 --> 00:13:57,280 Speaker 1: its new term the new session welcome newest Justice Katanji 250 00:13:57,360 --> 00:14:00,280 Speaker 1: Brown Jackson, the first black woman on the bench. During 251 00:14:00,480 --> 00:14:04,120 Speaker 1: oral arguments, she grilled an attorney challenging the Environmental Protection 252 00:14:04,160 --> 00:14:08,400 Speaker 1: Agency's power under the Clean Water Act. In baseball, the 253 00:14:08,520 --> 00:14:11,400 Speaker 1: Yankees one erin judge still at sixty one home runs 254 00:14:11,440 --> 00:14:14,439 Speaker 1: with time running out. Red Sox one along with the A's, 255 00:14:14,559 --> 00:14:17,880 Speaker 1: the Orioles and Giants lost. The Mets and Nationals game 256 00:14:17,960 --> 00:14:23,600 Speaker 1: postponed Monday night Football Beat the Rams. Global News twenty 257 00:14:23,640 --> 00:14:26,120 Speaker 1: four hours a day on air and on Bloomberg Quicktake, 258 00:14:26,400 --> 00:14:29,520 Speaker 1: powered by more than twenty journalists and analysts more than 259 00:14:29,520 --> 00:14:32,920 Speaker 1: a hundred twenty countries. Michael Barr and this is Bloomberg, Nathan. 260 00:14:33,000 --> 00:14:35,560 Speaker 1: Thanks Michael. It's six nineteen on Wall Street Live from 261 00:14:35,600 --> 00:14:38,880 Speaker 1: the Bloomberg Intractive Broker Studios. This is Bloomberg Day Break. 262 00:14:38,960 --> 00:14:41,080 Speaker 1: Let's get more on this market now. We're joined by 263 00:14:41,160 --> 00:14:44,800 Speaker 1: Maria Wademan, senior multi assets strategist at State Street. Great 264 00:14:44,840 --> 00:14:47,720 Speaker 1: to speak with you, Maria, as we watch futures continue 265 00:14:47,760 --> 00:14:51,000 Speaker 1: to climb after yesterday's strong start to the fourth quarter. 266 00:14:51,440 --> 00:14:56,560 Speaker 1: Is this a rally with momentum? Alcolo? What he to 267 00:14:56,600 --> 00:14:59,960 Speaker 1: be on on the show? I mean, Bardo marchings, it's 268 00:15:00,000 --> 00:15:03,520 Speaker 1: ample sells rally when we've had I mean, we're still 269 00:15:03,840 --> 00:15:07,800 Speaker 1: very very worried about were little progress on inflation. We 270 00:15:07,880 --> 00:15:13,040 Speaker 1: expect central banks to maintain the hockeys stands um I 271 00:15:13,080 --> 00:15:17,280 Speaker 1: mean for us, that's definitely really to self. So you're 272 00:15:17,280 --> 00:15:19,720 Speaker 1: not swayed by some of the data that we've seen 273 00:15:19,880 --> 00:15:23,320 Speaker 1: come in the weaker than expected manufacturing data that could 274 00:15:23,440 --> 00:15:27,560 Speaker 1: potentially make the FED thing twice about higher from longer 275 00:15:27,600 --> 00:15:31,120 Speaker 1: interest rates. So are you pushing back at that? Yeah, 276 00:15:31,160 --> 00:15:32,760 Speaker 1: and I think we were in that camp. I mean, 277 00:15:32,800 --> 00:15:35,320 Speaker 1: I find it quite interesting. So we had about six 278 00:15:35,440 --> 00:15:39,760 Speaker 1: weeks past Jackson Hole when we had a slightly better data, 279 00:15:39,880 --> 00:15:42,520 Speaker 1: which was seen as a kind of bad news for 280 00:15:43,680 --> 00:15:46,000 Speaker 1: full financial market, meaning that we need to do more. 281 00:15:46,480 --> 00:15:48,880 Speaker 1: And then kind of yesterday there was a day when 282 00:15:48,960 --> 00:15:51,320 Speaker 1: we've had quite a bit of a weaker data, as 283 00:15:51,360 --> 00:15:54,160 Speaker 1: you say, and we all kind of all change and 284 00:15:54,280 --> 00:15:58,600 Speaker 1: we're all going to uh kind of expect central banks 285 00:15:58,640 --> 00:16:01,160 Speaker 1: to flow based on couple of days of data. So 286 00:16:01,360 --> 00:16:04,640 Speaker 1: for us that that's not enough. So what would be enough? 287 00:16:04,680 --> 00:16:06,320 Speaker 1: What are you looking at that would make you think 288 00:16:06,360 --> 00:16:09,880 Speaker 1: that the FED might start to pivot? I mean, well, well, 289 00:16:10,000 --> 00:16:13,080 Speaker 1: quite fortunate as stage we are previous to the high 290 00:16:13,120 --> 00:16:16,480 Speaker 1: frequent inflation data. We have a measure of daily or 291 00:16:16,600 --> 00:16:20,240 Speaker 1: daily measure of online inflation, and that measure really showing 292 00:16:20,400 --> 00:16:24,760 Speaker 1: us no slow down in any sector bar transportation. So yes, 293 00:16:24,800 --> 00:16:28,560 Speaker 1: transportation prices are going down as oil prices are going down, 294 00:16:28,960 --> 00:16:34,320 Speaker 1: but every other sector electronics, home furnishing, apparel, healthcare. All 295 00:16:34,400 --> 00:16:37,480 Speaker 1: of them continue to seek work quork quite strong, perfect 296 00:16:37,520 --> 00:16:40,800 Speaker 1: price information. So until that starts to turn down, that's 297 00:16:40,800 --> 00:16:43,400 Speaker 1: what dearest, So what do you think the fans want 298 00:16:43,440 --> 00:16:47,360 Speaker 1: to do? Sorry, go right ahead. And I mean the 299 00:16:47,640 --> 00:16:49,960 Speaker 1: way we're kind of looking at inflation, why inflation is 300 00:16:49,960 --> 00:16:53,200 Speaker 1: still strong is still those stories we were all kinds 301 00:16:53,200 --> 00:16:55,600 Speaker 1: of of the whole market was where taken on last week? 302 00:16:55,720 --> 00:17:00,520 Speaker 1: Is we talked about still consumers, consumers have coal savings 303 00:17:00,880 --> 00:17:04,400 Speaker 1: that has not been spent or inaggregate, uh, we still 304 00:17:04,480 --> 00:17:06,720 Speaker 1: talked about labor markets. So those were kinds of the 305 00:17:06,800 --> 00:17:09,920 Speaker 1: scenes of last week, and I mean those things have 306 00:17:10,040 --> 00:17:12,040 Speaker 1: not gone away in a week, so we're still think 307 00:17:12,160 --> 00:17:15,760 Speaker 1: that those have kind of underlying points of strength. How 308 00:17:15,840 --> 00:17:18,040 Speaker 1: long do you think it's going to take the forefeed policy, 309 00:17:18,119 --> 00:17:20,640 Speaker 1: whether it's higher interest rates or rollback of the balance sheet, 310 00:17:20,720 --> 00:17:22,680 Speaker 1: is going to have any impact on some of the 311 00:17:22,800 --> 00:17:27,720 Speaker 1: inflationary pressures that you're seeing. Definitely a while, And it's 312 00:17:27,760 --> 00:17:31,360 Speaker 1: quite interesting. I mean, obviously every economist is forecasting inflation 313 00:17:31,400 --> 00:17:34,120 Speaker 1: going down to to percent, and that's just still a forecast, 314 00:17:34,200 --> 00:17:36,840 Speaker 1: but it just takes a bit longer and we're beginning 315 00:17:36,920 --> 00:17:39,960 Speaker 1: to see kind of some science probably and that's what 316 00:17:40,080 --> 00:17:42,159 Speaker 1: kind of said is pushing against it as a science 317 00:17:42,280 --> 00:17:45,320 Speaker 1: of inflation, the anchoring from those two percent. So I 318 00:17:45,400 --> 00:17:48,600 Speaker 1: mean for us, it's uh still very hooky central banks. 319 00:17:49,000 --> 00:17:52,359 Speaker 1: And even when the pivot for US pivot is stop 320 00:17:52,520 --> 00:17:55,560 Speaker 1: raising rates, not clutching rates. So so we uh yeah, 321 00:17:55,600 --> 00:17:57,960 Speaker 1: we we we still seek a lot a lot more 322 00:17:58,000 --> 00:18:01,240 Speaker 1: work for central banks to this In terms of that work. 323 00:18:01,320 --> 00:18:04,400 Speaker 1: What do you see stocks going from here? What kind 324 00:18:04,400 --> 00:18:08,080 Speaker 1: of levels are you looking at? I mean we're quite 325 00:18:08,400 --> 00:18:10,639 Speaker 1: kept I mean you've given this outlook, you probably can 326 00:18:10,680 --> 00:18:14,119 Speaker 1: guess we're quite skeptical. For equity outlook, we see we 327 00:18:14,240 --> 00:18:17,040 Speaker 1: still see multiple compression at the first step, so probably 328 00:18:17,119 --> 00:18:20,280 Speaker 1: maybe going for like a just things like I don't know, ma, 329 00:18:20,359 --> 00:18:22,879 Speaker 1: the level of like fifteen times when a pen te 330 00:18:23,040 --> 00:18:27,040 Speaker 1: multiples and uh but what what's even kind of more 331 00:18:27,119 --> 00:18:29,840 Speaker 1: worrying is that after a multiple compared so far, we 332 00:18:29,960 --> 00:18:32,600 Speaker 1: haven't seen earnings greater at all. So so far earning 333 00:18:32,640 --> 00:18:35,920 Speaker 1: girl has been okay. And uh that's what the kind 334 00:18:35,920 --> 00:18:39,520 Speaker 1: of the next step. So the longer we kind of postponed, um, 335 00:18:40,320 --> 00:18:43,360 Speaker 1: the longer central bank continuous rate rights as we expect 336 00:18:43,520 --> 00:18:46,560 Speaker 1: the move, the harder it is to achieve for uh 337 00:18:46,600 --> 00:18:49,680 Speaker 1: stot lending, and the harder the earnings will will will 338 00:18:49,720 --> 00:18:53,040 Speaker 1: will drop. So that's uh quite challenging our look in 339 00:18:53,080 --> 00:18:55,920 Speaker 1: our opinion only about thirty seconds left here, it sounds 340 00:18:55,960 --> 00:18:59,480 Speaker 1: like you're defensive as far as your investment strategy. What 341 00:18:59,600 --> 00:19:05,280 Speaker 1: is that like for your clients? Yeah, I mean it's 342 00:19:05,400 --> 00:19:08,160 Speaker 1: very challenging. I mean we were still finding like relative 343 00:19:08,240 --> 00:19:13,040 Speaker 1: value trade, so we within our preference will like healthcare, 344 00:19:13,080 --> 00:19:16,439 Speaker 1: We actually like energy stalks. Uh uh So so there 345 00:19:16,440 --> 00:19:19,520 Speaker 1: are like trying to find areas for for where we 346 00:19:19,560 --> 00:19:22,440 Speaker 1: can invest more and more constructively. Thanks for this very 347 00:19:22,520 --> 00:19:25,200 Speaker 1: great having gone with us this morning. Maria Weightman, Senior 348 00:19:25,280 --> 00:19:30,119 Speaker 1: multi assets strategist at State Street. Looking at markets this morning, 349 00:19:30,200 --> 00:19:33,920 Speaker 1: a rally is on with SMP futures up sixty six points, 350 00:19:33,920 --> 00:19:37,280 Speaker 1: STAFLE futures up four undred fifty and NASDAC futures are 351 00:19:37,359 --> 00:19:40,320 Speaker 1: higher by two undred fifty points ten. Your treasury is 352 00:19:40,400 --> 00:19:43,560 Speaker 1: up seventeen thirty seconds, the yield three point five seven 353 00:19:43,680 --> 00:19:47,000 Speaker 1: percent yield on the two year right at four point zero, 354 00:19:47,720 --> 00:19:50,000 Speaker 1: and nime X screwed is moving higher as well, up 355 00:19:50,080 --> 00:19:52,600 Speaker 1: nine tenths percent, or seventy eight cents at eighty four 356 00:19:52,720 --> 00:19:56,320 Speaker 1: dollars forty one cents a barrel looking at bitcoin just 357 00:19:56,440 --> 00:19:59,840 Speaker 1: shy of twenty dollars, a gain of one point nine percent. 358 00:20:00,080 --> 00:20:08,879 Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather, clouds, 359 00:20:08,920 --> 00:20:11,560 Speaker 1: occasional showers and rain, breezy, cool, highs only in the 360 00:20:11,640 --> 00:20:14,920 Speaker 1: upper fifties today, shower's line Tomorrow low sixties will be 361 00:20:15,040 --> 00:20:17,760 Speaker 1: back in the sunshine and low seventies by Thursday. Right now, 362 00:20:17,960 --> 00:20:23,640 Speaker 1: rain and forty five in Central Park. Broadcasting live from 363 00:20:23,680 --> 00:20:27,480 Speaker 1: the Bloomberg Interacted Broker Studio in New York. Bloomberg E 364 00:20:27,560 --> 00:20:31,479 Speaker 1: living Free. On to Washington, d C. Bloomberg, On to Boston, 365 00:20:31,640 --> 00:20:35,040 Speaker 1: Bloomberg one six one, to San Francisco Bloomberg and I'm 366 00:20:35,119 --> 00:20:38,200 Speaker 1: sixty to the country, Sirius XM Toto one nine team 367 00:20:38,320 --> 00:20:41,440 Speaker 1: and around the globe, the Bloomberg Business at and Bloomberg 368 00:20:41,560 --> 00:20:50,720 Speaker 1: Radio dot Com. This is Bloomberg Daybreak six thirty on 369 00:20:50,800 --> 00:20:54,200 Speaker 1: Wall Street. Good morning, I'm Nathan Hagar and I'm Karen Moscow, 370 00:20:54,400 --> 00:20:56,520 Speaker 1: and we're just about three hours away from the Open 371 00:20:56,560 --> 00:20:58,440 Speaker 1: of US training time for the Five Things so you 372 00:20:58,560 --> 00:21:00,680 Speaker 1: need to notice start your day all to you by 373 00:21:00,800 --> 00:21:04,840 Speaker 1: interactive brokers. Interactive brokers clients are an interest of up 374 00:21:04,880 --> 00:21:07,160 Speaker 1: to two point five eight percent on the idle cash 375 00:21:07,200 --> 00:21:09,560 Speaker 1: and their brokerage accounts. That's just one of the many 376 00:21:09,600 --> 00:21:14,359 Speaker 1: reasons clients use interactive brokers to trade stocks, options, futures, currencies, bonds, funds, 377 00:21:14,400 --> 00:21:18,320 Speaker 1: crypto and more. Visit ibkr dot com slash interest rates 378 00:21:18,400 --> 00:21:21,359 Speaker 1: to learn more. The first US futures on the rise 379 00:21:21,520 --> 00:21:23,720 Speaker 1: on he also the best day for stocks in two months. 380 00:21:23,760 --> 00:21:26,000 Speaker 1: Still there's room to go lower from here. That's according 381 00:21:26,040 --> 00:21:29,560 Speaker 1: to Wealth Enhancement Group Senior VP Nicole Webb, the market 382 00:21:29,680 --> 00:21:32,159 Speaker 1: may come down to kind of that thirteen times to 383 00:21:32,320 --> 00:21:36,000 Speaker 1: fifteen times multiplier, and when we get there, the SMP 384 00:21:36,160 --> 00:21:39,440 Speaker 1: looks more fairly priced within reason, closer to three thousand 385 00:21:39,480 --> 00:21:41,600 Speaker 1: and so we do think when you come through that 386 00:21:41,680 --> 00:21:45,600 Speaker 1: support of thirty, there's there's probably still room below that 387 00:21:45,840 --> 00:21:48,639 Speaker 1: to go. The Wealth Enhancement Groups Nicole Webb says the 388 00:21:48,760 --> 00:21:52,560 Speaker 1: US is likely entering a period of structurally slower growth. 389 00:21:52,760 --> 00:21:55,359 Speaker 1: The meantime, Karen FED speakers continue the drum beat for 390 00:21:55,440 --> 00:21:58,639 Speaker 1: higher rates. New York Fed President John Williams says tightening 391 00:21:58,720 --> 00:22:01,320 Speaker 1: still has a significant way to go. Williams is one 392 00:22:01,359 --> 00:22:03,760 Speaker 1: of five FED officials speaking at events today. Pre A 393 00:22:03,800 --> 00:22:06,520 Speaker 1: miser ahead of global rate strategy of TV Securities thinks 394 00:22:06,560 --> 00:22:09,320 Speaker 1: the Fed won't stop hiking anytime soon. We should be 395 00:22:09,400 --> 00:22:11,680 Speaker 1: pricing in a recession. I think the recession is pretty 396 00:22:11,760 --> 00:22:13,920 Speaker 1: much baked on the cake for next year in the US, 397 00:22:14,040 --> 00:22:17,600 Speaker 1: and I don't buy the shallow short recession argument. This 398 00:22:17,800 --> 00:22:20,600 Speaker 1: could be much longer lasting because the Fed is going 399 00:22:20,640 --> 00:22:23,080 Speaker 1: to be reluctant to start to ease. They're so worried 400 00:22:23,080 --> 00:22:25,159 Speaker 1: about the nineteen seventies that I think they're going to 401 00:22:25,240 --> 00:22:28,280 Speaker 1: be late on the way to easing policy, so that 402 00:22:28,400 --> 00:22:31,320 Speaker 1: Danny is attractive as a risk hedge. A miser with 403 00:22:31,359 --> 00:22:34,320 Speaker 1: TV Security says rate hikes could continue into next year 404 00:22:34,600 --> 00:22:37,399 Speaker 1: well despite the hawk Is rhetoric. Global stocks are railing 405 00:22:37,480 --> 00:22:40,320 Speaker 1: this morning. The MSCI Asia Pacific Index rose more than 406 00:22:40,400 --> 00:22:43,520 Speaker 1: two percent overnight, and You're up stock six is currently 407 00:22:43,640 --> 00:22:46,359 Speaker 1: up two point six. In England, it's the third day 408 00:22:46,359 --> 00:22:49,160 Speaker 1: of the Conservative Party conference Karen and questions are swirling 409 00:22:49,200 --> 00:22:52,040 Speaker 1: over the leadership of Prime Minister is Trust. Cabinet members 410 00:22:52,080 --> 00:22:54,200 Speaker 1: tell us Trust will struggle to enact to keep parts 411 00:22:54,240 --> 00:22:56,480 Speaker 1: of her economic plan because you're standing in the party 412 00:22:56,560 --> 00:23:00,040 Speaker 1: is already so damaged. In corporate news, Nathan Teslas o 413 00:23:00,080 --> 00:23:03,399 Speaker 1: Elon Muskin raged Ukrainians in a series of Twitter posts 414 00:23:03,440 --> 00:23:05,399 Speaker 1: in which he said that the country should seek a 415 00:23:05,440 --> 00:23:09,119 Speaker 1: negotiate a solution to the invasion by Russia and steed crimea. 416 00:23:09,560 --> 00:23:12,720 Speaker 1: Ukraine's president vladimir's Lenski responded in a post of his own, 417 00:23:13,040 --> 00:23:16,399 Speaker 1: questioning whether must supported Ukraine or Russia and back in 418 00:23:16,440 --> 00:23:18,360 Speaker 1: the U s Cairen. Bloomberg News has learned the Biden 419 00:23:18,400 --> 00:23:21,639 Speaker 1: administration plans to announce new restrictions on China's access to 420 00:23:21,800 --> 00:23:24,520 Speaker 1: US chip technology. And that's the five things that you 421 00:23:24,640 --> 00:23:26,640 Speaker 1: need to notice. Start your day. Brought to you by 422 00:23:26,840 --> 00:23:31,240 Speaker 1: Interactive Brokers, Hands straight Ahead. We have your latest local headlines, 423 00:23:31,359 --> 00:23:38,680 Speaker 1: plus a check of sports, and this is Bloomberg. Thanks Scaring. 424 00:23:38,720 --> 00:23:41,200 Speaker 1: Six three on Wall Street, rain forty five degrees in 425 00:23:41,280 --> 00:23:44,400 Speaker 1: Central Park. Still got that overturned tractor trailer's got westbound 426 00:23:44,560 --> 00:23:47,600 Speaker 1: l I E closed at seafort Oyster Bay Expressway. Michael 427 00:23:47,640 --> 00:23:49,680 Speaker 1: Barr has more on what's going on in New York 428 00:23:49,760 --> 00:23:52,520 Speaker 1: and around the world. Good morning, Michael, Good morning Nathan 429 00:23:52,560 --> 00:23:56,360 Speaker 1: New York City is relocating a humanitarian relief center intended 430 00:23:56,400 --> 00:23:59,760 Speaker 1: for asylum seekers bust up from Texas and southern borders 431 00:23:59,840 --> 00:24:02,760 Speaker 1: to ads. The proposed tense city at Orchard Beach and 432 00:24:02,800 --> 00:24:06,480 Speaker 1: the Bronx has become a magnet for anti immigration protests 433 00:24:06,560 --> 00:24:08,920 Speaker 1: and for people who are concerned about the migrants. The 434 00:24:08,960 --> 00:24:12,240 Speaker 1: city plans of the house at that facility. New York 435 00:24:12,359 --> 00:24:15,200 Speaker 1: Mayor Eric Adams says the city is exploring solutions for 436 00:24:15,280 --> 00:24:19,640 Speaker 1: the incoming asylum seekers and that everyone is safe. We're 437 00:24:19,720 --> 00:24:23,159 Speaker 1: going to provide the public safety. That's my responsibility. My 438 00:24:23,280 --> 00:24:27,160 Speaker 1: responsibility through the Police Commission and Police Department, all about 439 00:24:27,600 --> 00:24:31,120 Speaker 1: law enforcement entities is to make sure that the communities 440 00:24:31,320 --> 00:24:35,320 Speaker 1: will we have any shelter migrants are not that is safe. 441 00:24:36,119 --> 00:24:38,960 Speaker 1: Mayor Adams says the migrants will be sent to Randall's 442 00:24:39,040 --> 00:24:42,560 Speaker 1: Island after concerns about flooding issues and Orchard Beach. North 443 00:24:42,640 --> 00:24:46,120 Speaker 1: Korea launched an intermediate range ballistic missile over the Japanese 444 00:24:46,200 --> 00:24:49,240 Speaker 1: territory for the first time in five years. Residents in 445 00:24:49,280 --> 00:24:51,840 Speaker 1: northern Japan were told to take cover as the missile 446 00:24:51,880 --> 00:24:55,200 Speaker 1: flew over and fell into the Pacific Ocean. Japan says 447 00:24:55,280 --> 00:24:59,000 Speaker 1: North Korea's latest missile launch is reckless and strongly condemns 448 00:24:59,040 --> 00:25:04,200 Speaker 1: it jap and these government spokesperson hero Kazu Matsuno, through 449 00:25:04,240 --> 00:25:10,400 Speaker 1: a translator, Dunde nor North Korea's actions, including the repeated 450 00:25:10,440 --> 00:25:13,280 Speaker 1: ballistic missile launches, are a threat to the peace and 451 00:25:13,359 --> 00:25:17,560 Speaker 1: security of our country, region, and international community, and it's 452 00:25:17,560 --> 00:25:21,600 Speaker 1: a serious challenge for our country and the entire international community. 453 00:25:22,440 --> 00:25:24,920 Speaker 1: The launch is seen as an escalation in response to 454 00:25:25,080 --> 00:25:29,639 Speaker 1: military drills between the US and South Korea. President Biden 455 00:25:29,800 --> 00:25:32,320 Speaker 1: and the First Lady arrived in Puerto Rico. It was 456 00:25:32,400 --> 00:25:35,560 Speaker 1: hit by Hurricane Fiona. The U s territory was hit 457 00:25:35,640 --> 00:25:39,240 Speaker 1: by Hurricane Maria five years ago. The President says he 458 00:25:39,320 --> 00:25:42,600 Speaker 1: wants to make Puerto Rico resilient with sixty million in 459 00:25:42,680 --> 00:25:46,359 Speaker 1: infrastructure aim and yes, Puerto Rico is a strong place 460 00:25:46,840 --> 00:25:50,159 Speaker 1: and Puerto Ricos are strong people. But even so, you 461 00:25:50,240 --> 00:25:52,840 Speaker 1: have had to bear so much and more than need 462 00:25:52,960 --> 00:25:55,560 Speaker 1: be and you haven't gotten the help in a timely way. 463 00:25:56,160 --> 00:25:59,680 Speaker 1: President Biden will visit Florida to survey Ian's damage tomorrow. 464 00:26:00,200 --> 00:26:03,000 Speaker 1: High stakes January six trial kicked off in d C 465 00:26:03,200 --> 00:26:06,280 Speaker 1: District Court. Five members of the far right militia group 466 00:26:06,359 --> 00:26:09,720 Speaker 1: the Oath Keepers, faced decades behind the bars. The defendants 467 00:26:09,720 --> 00:26:13,560 Speaker 1: are charged with seditious conspiracy. Global News twenty four hours 468 00:26:13,600 --> 00:26:16,439 Speaker 1: a day on airand on Bloomberg Quick Take, powered by 469 00:26:16,480 --> 00:26:18,560 Speaker 1: more than twenty seven hundred journalists anatist more than a 470 00:26:18,640 --> 00:26:21,200 Speaker 1: hundred twenty countries. I'm Michael Barr. This is Bloomberg, Nathan, 471 00:26:21,440 --> 00:26:28,920 Speaker 1: Thanks Michael. Just about six thirty six on Wall Street 472 00:26:28,920 --> 00:26:31,600 Speaker 1: and John sash Hour has the Bloomberg Sports Update. Nathan. 473 00:26:31,640 --> 00:26:33,520 Speaker 1: It's one of the things you never used to see 474 00:26:33,560 --> 00:26:36,040 Speaker 1: in baseball and now see all the time. A manager 475 00:26:36,160 --> 00:26:38,600 Speaker 1: taking a picture out even when the picture has not 476 00:26:38,680 --> 00:26:41,119 Speaker 1: allowed a hit. Just the third start for Luis Sevareinos 477 00:26:41,160 --> 00:26:43,840 Speaker 1: and been injured. The playoffs are around the corner. Savarino 478 00:26:43,960 --> 00:26:47,280 Speaker 1: was at ninety four pictures through seven and Aaron Boone 479 00:26:47,359 --> 00:26:50,439 Speaker 1: removed him. The decision that sucks to have to make, um, 480 00:26:50,840 --> 00:26:54,280 Speaker 1: because he was very efficient to you know, the decision 481 00:26:54,320 --> 00:26:56,880 Speaker 1: would have been if he was through rate at that point. Um, 482 00:26:57,040 --> 00:26:58,359 Speaker 1: you know, I didn't really want to go more than 483 00:26:58,480 --> 00:27:00,760 Speaker 1: ninety with him today. How's he gonna try and let 484 00:27:00,840 --> 00:27:03,320 Speaker 1: him finish that seventh tenning? No matter what Rangers broke 485 00:27:03,400 --> 00:27:04,720 Speaker 1: up the no hit or and the shut out of 486 00:27:04,760 --> 00:27:07,320 Speaker 1: the eighth inning offrom Miguel Castro's just back from injury. 487 00:27:07,400 --> 00:27:10,320 Speaker 1: Yanks still wanted Texas three to one. John Carlos standing 488 00:27:10,400 --> 00:27:12,840 Speaker 1: his thirtieth home run, Aaron Judge did not hit his 489 00:27:12,960 --> 00:27:16,760 Speaker 1: sixties second. Maybe today doubleheader in Texas met the Nationals 490 00:27:16,800 --> 00:27:18,880 Speaker 1: to play two at City Field at last night's rain out. 491 00:27:19,160 --> 00:27:21,600 Speaker 1: The Braves at Champagne ready to go, but lost in 492 00:27:21,680 --> 00:27:24,479 Speaker 1: Miami for nothing, their magic numbers still one. The Phillies 493 00:27:24,520 --> 00:27:27,520 Speaker 1: celebrated they wanted to clinch their first playoffs Firths Andince 494 00:27:27,520 --> 00:27:30,200 Speaker 1: two thousand and eleventh. The twelve playoff teams are known, 495 00:27:30,720 --> 00:27:33,000 Speaker 1: matchups still to be determined. Week four ended with the 496 00:27:34,200 --> 00:27:37,280 Speaker 1: seven sacks and a nine win over the Rams, where 497 00:27:37,280 --> 00:27:39,480 Speaker 1: they've now beaten seventh straight times in the regular season. 498 00:27:39,760 --> 00:27:41,600 Speaker 1: All four teams in the NFC West for two and 499 00:27:41,680 --> 00:27:43,560 Speaker 1: two Jets two and two yet to win at home. 500 00:27:43,920 --> 00:27:46,720 Speaker 1: They host Miami Sunday. The Dolphins quarterback will be Teddy 501 00:27:46,760 --> 00:27:49,760 Speaker 1: Bridgewater to a tongue of Balowa out with his much 502 00:27:49,840 --> 00:27:54,000 Speaker 1: debated concussion. Tyrod Taylor is in concussion protocol and Daniel 503 00:27:54,080 --> 00:27:56,159 Speaker 1: Jones as an injured ankle said to be improving, but 504 00:27:56,240 --> 00:27:59,200 Speaker 1: the Giants Sunday in London against Green Bay may have 505 00:27:59,320 --> 00:28:02,200 Speaker 1: to start third sprink QB Davis Webb who's never thrown 506 00:28:02,240 --> 00:28:05,040 Speaker 1: a pass in an NFL game. Johns facially, I want 507 00:28:05,040 --> 00:28:08,400 Speaker 1: bloombergs towards me. Thanks John sixty seven on Wall Street. 508 00:28:08,440 --> 00:28:09,800 Speaker 1: Time to take a look at stock some of the 509 00:28:09,880 --> 00:28:13,640 Speaker 1: names moving in this rallying pre market with Floomberg, Radio 510 00:28:13,680 --> 00:28:17,760 Speaker 1: and TV markets correspondent pretty goopda watching the bouncing ball 511 00:28:17,840 --> 00:28:21,720 Speaker 1: that is Tesla, and not just because of Elon Musk's 512 00:28:21,760 --> 00:28:24,600 Speaker 1: Twitter feed, right, pretty right, well, a fast and furious 513 00:28:24,840 --> 00:28:27,399 Speaker 1: rally in futures right now, Um, one that is matched 514 00:28:27,480 --> 00:28:29,160 Speaker 1: by a carmaker. If you see what I did there, 515 00:28:29,520 --> 00:28:32,040 Speaker 1: Um and Nathan, just for you, Tesla shares t S 516 00:28:32,080 --> 00:28:34,280 Speaker 1: thank you. I tried really hard t s. L A 517 00:28:34,440 --> 00:28:37,359 Speaker 1: shares are just shy of four percent. Um. What's interesting 518 00:28:37,440 --> 00:28:39,240 Speaker 1: here is that this isn't just a Tesla move. This 519 00:28:39,360 --> 00:28:41,560 Speaker 1: is a broader technology move. So you're seeing this across 520 00:28:41,680 --> 00:28:44,240 Speaker 1: the board here. Um. Remember what one of the big 521 00:28:44,360 --> 00:28:47,640 Speaker 1: issues with having kind of a sustainable up bear or 522 00:28:47,760 --> 00:28:49,480 Speaker 1: bull markets. He's waiting in the stock market was that 523 00:28:49,520 --> 00:28:51,440 Speaker 1: you didn't have technology stocks on your side. So there 524 00:28:51,520 --> 00:28:53,360 Speaker 1: is a little bit of hope here that perhaps this 525 00:28:53,480 --> 00:28:55,000 Speaker 1: is a turnaround story that a lot of people are 526 00:28:55,040 --> 00:28:57,520 Speaker 1: waiting for it. That being said, with this kind of volatility, 527 00:28:57,680 --> 00:29:00,520 Speaker 1: is this sustainable is going to be the old question 528 00:29:00,640 --> 00:29:03,200 Speaker 1: right now? Tesla shares up specifically though t s l 529 00:29:03,280 --> 00:29:07,000 Speaker 1: A up about like a four percent. Cathy would very 530 00:29:07,080 --> 00:29:09,719 Speaker 1: vocal about buying the dip on Monday, so that's going 531 00:29:09,800 --> 00:29:12,760 Speaker 1: to be significant. But remember, Elon Musk is also perhaps 532 00:29:13,040 --> 00:29:15,200 Speaker 1: catching a little bit of hate on Twitter right now. 533 00:29:15,240 --> 00:29:17,040 Speaker 1: I mean as usual that it is Twitter and it 534 00:29:17,160 --> 00:29:20,080 Speaker 1: is Elon Musk, so keep an eye on the kind 535 00:29:20,120 --> 00:29:21,800 Speaker 1: of the comments that he makes, especially when it comes 536 00:29:21,840 --> 00:29:24,000 Speaker 1: to this market. Uh let's stick with the car theme though, 537 00:29:24,040 --> 00:29:25,800 Speaker 1: because that is something to keep an eye on. Rivy 538 00:29:25,880 --> 00:29:28,239 Speaker 1: and r I V and is your ticker shares her 539 00:29:28,320 --> 00:29:31,160 Speaker 1: up almost ten percent on the day. There is session 540 00:29:31,240 --> 00:29:33,760 Speaker 1: highs right now. Whether that stays throughout the session once 541 00:29:33,800 --> 00:29:36,800 Speaker 1: again is anyone's guest. But this comes after they reported 542 00:29:37,160 --> 00:29:40,320 Speaker 1: a boost in production and reaffirmed its annual goal to 543 00:29:40,440 --> 00:29:43,600 Speaker 1: build twenty five thousand electric vehicles. Remember, Rivy has been 544 00:29:43,600 --> 00:29:47,000 Speaker 1: trying to build up their scale, especially within the face 545 00:29:47,080 --> 00:29:49,960 Speaker 1: of inflation and commodity pressures. So, um, this is a 546 00:29:50,080 --> 00:29:52,520 Speaker 1: good step in the right direction. Yeah, interesting to see 547 00:29:52,520 --> 00:29:55,320 Speaker 1: if that will hold up given the issues with production 548 00:29:55,400 --> 00:29:58,400 Speaker 1: that Tesla reported just a few days ago, and signs 549 00:29:58,440 --> 00:30:00,520 Speaker 1: of hope this morning as well for Bed Bath and 550 00:30:00,600 --> 00:30:03,440 Speaker 1: Beyond investors, Yeah, it's interesting, there's there's a little bit 551 00:30:03,440 --> 00:30:05,480 Speaker 1: of a story here. B B. B Wise, your ticker 552 00:30:05,600 --> 00:30:08,400 Speaker 1: up two point three percent in the pre market. This 553 00:30:08,480 --> 00:30:11,360 Speaker 1: comes after The Wall Street Journal reported late on Monday 554 00:30:11,400 --> 00:30:14,840 Speaker 1: that some of their home furnishing retailers bond holders are 555 00:30:14,880 --> 00:30:18,080 Speaker 1: working with Perella Weinberg Partners ahead of debt talks that 556 00:30:18,120 --> 00:30:19,640 Speaker 1: they're expect to be held with the company. And we 557 00:30:19,720 --> 00:30:21,680 Speaker 1: know that Bed Bath and Beyond has been dealing with 558 00:30:21,760 --> 00:30:25,160 Speaker 1: a liquidity crisis of their own that has include restructuring 559 00:30:25,280 --> 00:30:28,840 Speaker 1: that has include layoffs, is include store closures, which also 560 00:30:28,920 --> 00:30:30,920 Speaker 1: included issuing some of those bonds. So it looks like 561 00:30:30,960 --> 00:30:33,120 Speaker 1: they're taking one more step in the right direction with 562 00:30:33,240 --> 00:30:35,440 Speaker 1: Perella Weinberg. Um, and so this is gonna be something 563 00:30:35,440 --> 00:30:38,200 Speaker 1: you want to keep an eye on. Investors. Pretty sweet 564 00:30:38,200 --> 00:30:40,160 Speaker 1: on the shares right now, BBB. Why, Like I said, 565 00:30:40,240 --> 00:30:43,160 Speaker 1: up two point three percent in the pre market. Nathan 566 00:30:43,320 --> 00:30:46,400 Speaker 1: all Right, Bloomberg Radio and TV Markets correspondent prety Goopta 567 00:30:46,760 --> 00:30:49,120 Speaker 1: keeping an eye on those individual names for us in 568 00:30:49,200 --> 00:30:51,040 Speaker 1: early trading, and as we take a look at stocks 569 00:30:51,080 --> 00:30:53,640 Speaker 1: as a whole ahead of the Tuesday morning open. The 570 00:30:53,760 --> 00:30:57,320 Speaker 1: rally is on after yesterday's nice start to the fourth quarter. 571 00:30:57,520 --> 00:31:00,240 Speaker 1: S ANDP futures are up sixty seven points, build on 572 00:31:00,320 --> 00:31:03,720 Speaker 1: the games from yesterday. DAL future is up fifty three 573 00:31:03,800 --> 00:31:07,240 Speaker 1: and NASEAC futures on the rise by two fifty five points. 574 00:31:07,280 --> 00:31:09,880 Speaker 1: That's a game of two point three percent. Ten. Your 575 00:31:09,880 --> 00:31:12,480 Speaker 1: treasury is up sixteen thirty seconds, yield three point five 576 00:31:12,560 --> 00:31:14,400 Speaker 1: seven percent, the yield on the two year right now 577 00:31:14,960 --> 00:31:23,880 Speaker 1: four even. This is Bloomberg Bloomberg eleven three oh Weather clouds, 578 00:31:23,920 --> 00:31:26,640 Speaker 1: occasional showers and rain. Breezy hides in the upper fifties. 579 00:31:26,800 --> 00:31:29,320 Speaker 1: We'll get into the low sixties and showers and tomorrow 580 00:31:29,680 --> 00:31:33,240 Speaker 1: sunshine for Thursday and low seventies return right now, rain 581 00:31:33,640 --> 00:31:40,080 Speaker 1: forty five degrees. Markets headlines and breaking news twenty four 582 00:31:40,120 --> 00:31:43,120 Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business 583 00:31:43,200 --> 00:31:46,800 Speaker 1: at and at Bloomberg Quick Tape he's a Bloomberg business 584 00:31:46,880 --> 00:31:55,400 Speaker 1: flash and I'm fair in Moscow. Future is on the rise. 585 00:31:55,480 --> 00:31:57,440 Speaker 1: This morning we get to the First Word Breaking News 586 00:31:57,480 --> 00:32:01,120 Speaker 1: desk for today's morning call. Here's Bill Maloney, Bill, good morning, Hey, 587 00:32:01,280 --> 00:32:04,720 Speaker 1: Good morning, Karen. US futures are showing important followed through 588 00:32:04,760 --> 00:32:07,600 Speaker 1: after yesterday's gains with doubt futures of four hundred forty points. 589 00:32:07,640 --> 00:32:11,080 Speaker 1: Supes gained sixties six and nastic futures are hired by 590 00:32:11,080 --> 00:32:14,160 Speaker 1: two hundred and fifty three. The US ten year old 591 00:32:14,160 --> 00:32:17,200 Speaker 1: at three point five seven percent, Gold is hired by eleven, 592 00:32:17,240 --> 00:32:20,320 Speaker 1: Oil is climbing and bitcoin is rising by two percent. 593 00:32:20,760 --> 00:32:23,640 Speaker 1: Japan rose three percent overnight, while Europa markets are also 594 00:32:23,720 --> 00:32:26,200 Speaker 1: in the green, led by three percent gains in France 595 00:32:26,240 --> 00:32:28,880 Speaker 1: and Germany. Back in the US, on the economic front 596 00:32:28,920 --> 00:32:31,719 Speaker 1: of tennetclock factory orders dooble goods orders and the Jolts 597 00:32:31,960 --> 00:32:34,640 Speaker 1: job openings. In deal news, South Korea is neighbored to 598 00:32:34,680 --> 00:32:37,960 Speaker 1: buy posh Mark for S nine share and wrapping things 599 00:32:38,040 --> 00:32:39,840 Speaker 1: up begging New York. Melin was raised to buy over 600 00:32:39,880 --> 00:32:43,440 Speaker 1: at City Group. Gilead raised to overweight rad JP Morgan 601 00:32:44,040 --> 00:32:47,080 Speaker 1: live on the First Breaking News Descam Bill Maloney Karen, Herry, 602 00:32:47,120 --> 00:32:48,959 Speaker 1: Phil thank you to hear live breaking news over her 603 00:32:49,000 --> 00:32:52,040 Speaker 1: Bloomberg tipe. Squawk on your terminal, ask you a w 604 00:32:52,320 --> 00:32:54,720 Speaker 1: K and that's a Bloomberg business flash. Now here's Michael 605 00:32:54,760 --> 00:32:57,840 Speaker 1: Barrow with more on what's going on around the world. Michael, Karen, 606 00:32:57,920 --> 00:33:00,320 Speaker 1: thank you very much. North Korea launched and into media 607 00:33:00,440 --> 00:33:04,520 Speaker 1: range ballistic missile over the Japanese territory. Residents in northern 608 00:33:04,640 --> 00:33:07,120 Speaker 1: Japan were told to take cover as the missile flew 609 00:33:07,200 --> 00:33:11,280 Speaker 1: over and fell into the Pacific Ocean. Ukrainian President Voladimir 610 00:33:11,360 --> 00:33:15,720 Speaker 1: Zelinski said that liberating settlements from Russian occupation is now 611 00:33:16,080 --> 00:33:20,040 Speaker 1: the trend. Is comment comes after the strategic eastern town 612 00:33:20,200 --> 00:33:23,320 Speaker 1: of Lehman was fully cleared. The town is part of 613 00:33:23,400 --> 00:33:28,000 Speaker 1: the regions Vladimir Putin annexed following referendums termed illegal by 614 00:33:28,200 --> 00:33:31,960 Speaker 1: Ukraine and its allies. In baseball, the Yankees one Aaron 615 00:33:32,040 --> 00:33:34,880 Speaker 1: Judge still at sixty one home runs with time running out. 616 00:33:35,240 --> 00:33:37,880 Speaker 1: The Red Sox one, along with the A's, the Orioles 617 00:33:37,960 --> 00:33:42,280 Speaker 1: and Giants lost the Medicine Nationals game postponed. Monday night football, 618 00:33:42,360 --> 00:33:46,000 Speaker 1: the forty nine beat the Rams. Global News twenty four 619 00:33:46,080 --> 00:33:49,880 Speaker 1: hours a day on air and on Bloomberg Quicktake, powered 620 00:33:49,920 --> 00:33:53,000 Speaker 1: by more than journalists and analysts more than a hundred 621 00:33:53,040 --> 00:33:56,640 Speaker 1: twenty countries. Michael Barr, this is Bloomberg Kerry. All right, 622 00:33:56,680 --> 00:33:59,680 Speaker 1: Michael Barr, thank you. At On Wall Street, we turned 623 00:33:59,720 --> 00:34:02,480 Speaker 1: to new in Science and Technology now with the Bloomberg 624 00:34:02,600 --> 00:34:04,720 Speaker 1: n j I T S STAM Report. It's brought to 625 00:34:04,800 --> 00:34:07,720 Speaker 1: you by New Jersey Institute of Technology, whose n j 626 00:34:07,960 --> 00:34:11,920 Speaker 1: II unit has joined with pharmaceutical giant Murk to establish 627 00:34:12,000 --> 00:34:15,840 Speaker 1: the Merk Digital Sciences Studio to support drug discovery and development. 628 00:34:16,200 --> 00:34:18,440 Speaker 1: More at n j I T DOT E d U. 629 00:34:18,960 --> 00:34:22,399 Speaker 1: And here's just making news and science, Technology, engineering, and math. 630 00:34:22,920 --> 00:34:26,280 Speaker 1: Three scientists jointly one this year's Nobel Prize and Physics 631 00:34:26,360 --> 00:34:30,080 Speaker 1: for their work on quantum information science that has significant applications, 632 00:34:30,160 --> 00:34:34,680 Speaker 1: for example, in the field of encryption alan aspect. John 633 00:34:34,719 --> 00:34:38,160 Speaker 1: Klauser and Anton Zillinger were cited by the Royal Swedish 634 00:34:38,200 --> 00:34:41,399 Speaker 1: Academy of Sciences for discovering the way that particles known 635 00:34:41,440 --> 00:34:44,279 Speaker 1: as photons can be linked or entangled with each other 636 00:34:44,640 --> 00:34:48,719 Speaker 1: even when they are separated by large distances. Bloomberg News 637 00:34:48,760 --> 00:34:51,640 Speaker 1: has learned that the voluted Administration will announce new restrictions 638 00:34:51,680 --> 00:34:55,200 Speaker 1: on China's access to U S semiconductor technology. That's an 639 00:34:55,280 --> 00:35:00,239 Speaker 1: esclamation of Washington's efforts to stifle Beijing's industrial ambitions. Also 640 00:35:00,320 --> 00:35:03,360 Speaker 1: her growth in the five fifty billion dollar sector and 641 00:35:03,480 --> 00:35:06,200 Speaker 1: Facebook parent Meta Platforms is planning to close one of 642 00:35:06,239 --> 00:35:09,000 Speaker 1: its offices in New York after scaling down its expansion 643 00:35:09,080 --> 00:35:12,040 Speaker 1: plans in the city. Sources say that company is exercising 644 00:35:12,080 --> 00:35:14,960 Speaker 1: its option to terminate its LEASA at two hundred Park 645 00:35:15,000 --> 00:35:18,920 Speaker 1: App South in Manhattan. Meta has been consolidating its New 646 00:35:19,000 --> 00:35:22,719 Speaker 1: York workforce building in offices and Hudson Yards and moving 647 00:35:22,719 --> 00:35:25,400 Speaker 1: ahead with plans for the Farley Building near Penn Station 648 00:35:26,239 --> 00:35:28,920 Speaker 1: and as a Bloomberg n j I t STEM report. Nathan, 649 00:35:29,120 --> 00:35:31,960 Speaker 1: Thanks Karen. We're live from the Bloomberg Interactive Broker Studios 650 00:35:32,000 --> 00:35:34,320 Speaker 1: where it's coming up to six fifty one on Wall Street. 651 00:35:34,360 --> 00:35:36,239 Speaker 1: Time out to check with some of it's going on 652 00:35:36,320 --> 00:35:40,640 Speaker 1: in d C, including those chip technology limits to China 653 00:35:40,719 --> 00:35:43,880 Speaker 1: that Karen mentioned. Also making news, new details on the 654 00:35:44,000 --> 00:35:48,480 Speaker 1: Justice Department filter team at maral Lago, President Biden taking 655 00:35:48,520 --> 00:35:52,840 Speaker 1: action to boost abortion rights on college campuses, and elon 656 00:35:53,000 --> 00:35:57,720 Speaker 1: musk angering Ukrainians with his tweets about the war against Ukraine. 657 00:35:58,160 --> 00:36:01,320 Speaker 1: Bloomberg's Joe Matthew is with us now, our Washington correspondent, 658 00:36:01,360 --> 00:36:04,640 Speaker 1: host of sound On on Bloomberg Radio. Lots to get 659 00:36:04,680 --> 00:36:07,160 Speaker 1: to even in the run up to the mid terms. Joe, 660 00:36:07,239 --> 00:36:10,480 Speaker 1: but let's talk a little bit more about these chip 661 00:36:10,600 --> 00:36:14,240 Speaker 1: limits that the Biden administration is proposing, because it sounds 662 00:36:14,280 --> 00:36:17,680 Speaker 1: like this could be a potential further point of contention, 663 00:36:17,800 --> 00:36:20,320 Speaker 1: point of friction with China. Well, that's exactly right, and 664 00:36:20,360 --> 00:36:23,040 Speaker 1: it's a follow on to a couple of things. Nathan 665 00:36:23,360 --> 00:36:27,080 Speaker 1: Karen Moscow was just talking about what happened roughly a 666 00:36:27,160 --> 00:36:28,880 Speaker 1: month ago. If you might remember, this was a real 667 00:36:28,960 --> 00:36:33,759 Speaker 1: knock on shares of Nvidio as as the government put 668 00:36:33,880 --> 00:36:39,800 Speaker 1: new restrictions specifically on invidios Artificial intelligence chips AI chips 669 00:36:40,280 --> 00:36:43,400 Speaker 1: that are used to do all kinds of things including 670 00:36:43,480 --> 00:36:49,840 Speaker 1: developed UH self driving, autonomous driving technology, facial recognition, voice assistance, 671 00:36:49,880 --> 00:36:51,960 Speaker 1: that type of thing, and we talked about AI. This 672 00:36:52,120 --> 00:36:54,319 Speaker 1: is gonna be a little bit wider though. The administration 673 00:36:54,400 --> 00:36:56,600 Speaker 1: is going to roll out a package of rules this week. 674 00:36:56,640 --> 00:36:59,879 Speaker 1: As we understand Bloomberg is reporting this UH that will 675 00:37:00,080 --> 00:37:05,120 Speaker 1: put very specific and codify specific restrictions on the types 676 00:37:05,160 --> 00:37:07,440 Speaker 1: of chips that can be exported. I don't want to 677 00:37:07,440 --> 00:37:11,400 Speaker 1: get too wonki here, Nathan, but those designated as fourteen 678 00:37:11,520 --> 00:37:16,320 Speaker 1: nanometer or better are what will be restricted from China. 679 00:37:17,120 --> 00:37:19,239 Speaker 1: These are the most complex chips made. By the way, 680 00:37:19,280 --> 00:37:22,239 Speaker 1: the smaller the number of nanometers, the more advanced the capability. 681 00:37:22,320 --> 00:37:24,399 Speaker 1: So think about that as like fourteen and below, that's 682 00:37:24,440 --> 00:37:28,080 Speaker 1: gonna be essentially impossible for China to access those chips. Well, 683 00:37:28,160 --> 00:37:31,640 Speaker 1: what's that going to mean for US China relations, particularly 684 00:37:31,719 --> 00:37:35,400 Speaker 1: as we're getting closer to this all important Communist Party 685 00:37:35,520 --> 00:37:39,320 Speaker 1: conference that's expected to get hijin Ping into an unprecedented 686 00:37:39,400 --> 00:37:41,680 Speaker 1: third term. Well you probably know the answer to this. 687 00:37:41,800 --> 00:37:44,719 Speaker 1: I mean, it's just it's it's a it's feeling more 688 00:37:44,840 --> 00:37:47,840 Speaker 1: and more like a Cold war. And the reaction that 689 00:37:47,920 --> 00:37:51,080 Speaker 1: we heard from that first set of of restrictions on 690 00:37:51,360 --> 00:37:54,680 Speaker 1: video did get some pushback from China. And by the way, 691 00:37:54,719 --> 00:37:57,200 Speaker 1: the companies may not love this either. This is gonna 692 00:37:57,280 --> 00:38:01,040 Speaker 1: stifle growth potentially for chip makers like in video. And 693 00:38:01,080 --> 00:38:03,319 Speaker 1: I'll tell you what. The stock is higher this morning 694 00:38:03,360 --> 00:38:06,440 Speaker 1: in pre market trading, but it's already been beat down 695 00:38:06,480 --> 00:38:09,080 Speaker 1: because of this story. It's down gosh, about seven percent 696 00:38:09,200 --> 00:38:12,040 Speaker 1: over the last month or so since that announcement was made. 697 00:38:12,080 --> 00:38:14,480 Speaker 1: So it gives you a sense of the concern for 698 00:38:14,600 --> 00:38:16,640 Speaker 1: not just in video, but companies like A M D 699 00:38:16,760 --> 00:38:20,320 Speaker 1: and other chip makers that that are behind the world's 700 00:38:20,520 --> 00:38:24,880 Speaker 1: most complex and advanced chips. Interesting to see this develop 701 00:38:24,920 --> 00:38:27,319 Speaker 1: even further after that Chips and Science bill that has 702 00:38:27,360 --> 00:38:29,319 Speaker 1: passed earlier this year. I want to talk a little 703 00:38:29,320 --> 00:38:32,040 Speaker 1: bit more about what's happening at the White House today. 704 00:38:32,120 --> 00:38:35,720 Speaker 1: Of course, we had President Biden focused on hurricane relief, 705 00:38:35,800 --> 00:38:40,560 Speaker 1: but today it sounds like he's focused on boosting abortion rights. Yeah, 706 00:38:40,600 --> 00:38:42,920 Speaker 1: the President said, following the role ruling, as you remember 707 00:38:42,960 --> 00:38:45,880 Speaker 1: that he would use obviously, his his ability to impact 708 00:38:45,960 --> 00:38:48,920 Speaker 1: this story is limited, but if he would use the 709 00:38:49,560 --> 00:38:52,000 Speaker 1: weight and the power of his office to do whatever 710 00:38:52,120 --> 00:38:55,560 Speaker 1: he could through the executive branch. And today Bloomberg reports 711 00:38:55,600 --> 00:39:00,239 Speaker 1: the President will unveil new guidelines from the Department of Education. Okay, 712 00:39:00,280 --> 00:39:03,160 Speaker 1: so we're going through education here that would require universities 713 00:39:03,880 --> 00:39:08,320 Speaker 1: to protect students who who get abortions from discrimination. This 714 00:39:08,560 --> 00:39:12,240 Speaker 1: follows on similar uh moves by the President, for instance, 715 00:39:12,320 --> 00:39:16,160 Speaker 1: to to maintain travel rights interstate travel, rights for people, 716 00:39:16,560 --> 00:39:19,040 Speaker 1: and rights to privacy. This would be the latest one 717 00:39:19,120 --> 00:39:22,040 Speaker 1: here and they're gonna give six million dollars as well 718 00:39:22,120 --> 00:39:25,759 Speaker 1: in grants to expand access to reproductive care. Uh. This 719 00:39:25,960 --> 00:39:28,279 Speaker 1: is a memo that was distributed by the White House, 720 00:39:28,280 --> 00:39:30,359 Speaker 1: and we expect that guidance will be made clear soon 721 00:39:30,480 --> 00:39:33,719 Speaker 1: publicly soon. And this guidance is coming, of course, just 722 00:39:33,880 --> 00:39:36,560 Speaker 1: about five weeks before a mid term that I would 723 00:39:36,600 --> 00:39:39,560 Speaker 1: imagine Democrats are hoping we'll be focused at least to 724 00:39:39,680 --> 00:39:42,480 Speaker 1: some extent on the threat to abortion rights very much so. 725 00:39:42,640 --> 00:39:44,040 Speaker 1: I mean, it's gotten to the point now when it 726 00:39:44,120 --> 00:39:46,120 Speaker 1: depends on what poll you're looking at, and these numbers 727 00:39:46,160 --> 00:39:48,520 Speaker 1: can be very noisy because it's a very unusual mid 728 00:39:48,600 --> 00:39:51,360 Speaker 1: term cycle, coming out of COVID, coming out of a 729 00:39:51,480 --> 00:39:54,080 Speaker 1: very difficult period of time, potentially going into a recession. 730 00:39:54,160 --> 00:39:56,840 Speaker 1: We've got inflation, we've got a war. But row that 731 00:39:57,000 --> 00:39:59,840 Speaker 1: Dobb's ruling is incredibly important, as we saw in a 732 00:40:00,000 --> 00:40:02,680 Speaker 1: couple of the special elections that followed it, and in 733 00:40:02,960 --> 00:40:06,439 Speaker 1: the turn in polling that would that would at least 734 00:40:06,760 --> 00:40:09,600 Speaker 1: soften the blow on Democrats in the House, for instance, 735 00:40:09,920 --> 00:40:12,160 Speaker 1: and might allow them to preserve the Senate is a 736 00:40:12,480 --> 00:40:15,880 Speaker 1: massive game changer. And it's one really, Nathan that strategist 737 00:40:15,960 --> 00:40:17,960 Speaker 1: or have not been able to quantify. It's something that 738 00:40:18,000 --> 00:40:19,960 Speaker 1: we have to wait till this election to see play out. 739 00:40:20,480 --> 00:40:25,160 Speaker 1: All right. And finally, Joe, what's the reaction in Washington 740 00:40:25,400 --> 00:40:29,360 Speaker 1: to these Twitter polls that Elon Musk put out yesterday 741 00:40:29,400 --> 00:40:33,520 Speaker 1: about the war in Ukraine and the occupied territories? What 742 00:40:33,800 --> 00:40:37,720 Speaker 1: getting on with that? It isn't this uh something Elon 743 00:40:37,840 --> 00:40:40,720 Speaker 1: Musk knows how to get into stories. He essentially tweeted 744 00:40:40,760 --> 00:40:44,000 Speaker 1: what he saw as his piece plan for Ukraine that 745 00:40:44,080 --> 00:40:47,000 Speaker 1: would include them giving up Crimea. Then he to your point, 746 00:40:47,040 --> 00:40:48,800 Speaker 1: he had a poll on whether people who live in 747 00:40:48,880 --> 00:40:51,719 Speaker 1: the areas that had been UH annexed by Russia if 748 00:40:51,719 --> 00:40:55,880 Speaker 1: they rather be Ukrainian or Russian. The the Ukrainian government 749 00:40:55,920 --> 00:41:00,319 Speaker 1: did not love this, Zelenski himself. President Zelenski tweet which 750 00:41:00,360 --> 00:41:03,000 Speaker 1: Elon Musk, do you like more? They're not very pleased 751 00:41:03,040 --> 00:41:05,120 Speaker 1: with this, although he did follow up to say that 752 00:41:05,160 --> 00:41:08,000 Speaker 1: he supports Ukraine. I don't suspect that any of this 753 00:41:08,320 --> 00:41:13,600 Speaker 1: went through the State Department donation you're asking, That's not 754 00:41:13,760 --> 00:41:16,440 Speaker 1: exactly where I was going on that, Joe. But in 755 00:41:16,680 --> 00:41:22,680 Speaker 1: terms of I guess getting into the thinking in Washington 756 00:41:23,360 --> 00:41:26,719 Speaker 1: is Elon Musk trying to pull his weight apart from 757 00:41:27,160 --> 00:41:30,080 Speaker 1: the the chancery court issue that he's got going on 758 00:41:30,360 --> 00:41:33,160 Speaker 1: just outside of Washington in Delaware. I mean, what's the 759 00:41:33,239 --> 00:41:36,480 Speaker 1: thinking in Washington right now? You know it? God who knows? 760 00:41:36,640 --> 00:41:39,400 Speaker 1: With Elon Musk, these are all great questions. He remember, 761 00:41:39,440 --> 00:41:43,440 Speaker 1: he put his satellites, his Internet satellites, the Starling system 762 00:41:43,600 --> 00:41:46,719 Speaker 1: over Ukraine to help them get internet access. He has. 763 00:41:47,320 --> 00:41:48,880 Speaker 1: You know, you could argue that he's been trying to 764 00:41:48,960 --> 00:41:51,319 Speaker 1: help here. But sometimes when Elon Musk is hanging around 765 00:41:51,360 --> 00:41:54,879 Speaker 1: tweeting at night, things like this happened. Whether he has 766 00:41:55,000 --> 00:41:58,440 Speaker 1: real motivations here, Uh, you know, ask the folks at 767 00:41:58,480 --> 00:42:02,000 Speaker 1: Twitter about Okay, read his tweets and we'll get that. 768 00:42:02,120 --> 00:42:05,040 Speaker 1: I suppose so. And uh we've seen the reaction in 769 00:42:05,200 --> 00:42:07,840 Speaker 1: Ukraine as well. We just can't repeat it on the radio. 770 00:42:08,800 --> 00:42:10,560 Speaker 1: If you have the bleep handy, I'll be glad to 771 00:42:10,600 --> 00:42:13,080 Speaker 1: tell you what they said. Yeah, sorry, I've gotta dig 772 00:42:13,160 --> 00:42:16,080 Speaker 1: that out. Thanks Joe. As always, Bloomberg Washington correspondent Joe 773 00:42:16,120 --> 00:42:18,800 Speaker 1: Matthew much more to talk about this afternoon, As always 774 00:42:19,000 --> 00:42:23,280 Speaker 1: on sound on five pm Wall Street Time across Bloomberg Radio, 775 00:42:23,680 --> 00:42:25,640 Speaker 1: and you can read Lord Bloomberg dot com on the 776 00:42:25,680 --> 00:42:28,720 Speaker 1: Bloomberg terminal if you're in Washington, d C. Where Bloomberg 777 00:42:29,640 --> 00:42:33,479 Speaker 1: and one oh five point seven FM HD two SMB 778 00:42:33,640 --> 00:42:36,400 Speaker 1: futures up sixty one point, staff futures up, wounded sixteen 779 00:42:36,480 --> 00:42:38,919 Speaker 1: Nastack futures are higher by two hundred thirty nine points. 780 00:42:38,960 --> 00:42:42,000 Speaker 1: Bloomberg Surveillance is next, with Tom Keene, Jonathan Farrell, and 781 00:42:42,200 --> 00:42:47,040 Speaker 1: Lisa Abramowitz for Karen Moscow. I'm Nathan Hager. This is 782 00:42:47,360 --> 00:42:47,920 Speaker 1: Bloomberg