1 00:00:02,880 --> 00:00:06,199 Speaker 1: Live from the Bloomberg Interactor Berger Studios. This is Bloomberg 2 00:00:06,280 --> 00:00:10,280 Speaker 1: Daybreak for Tuesday, February one, two Coming up this hour, 3 00:00:10,600 --> 00:00:13,520 Speaker 1: a two day rally pairs the worst month for stocks 4 00:00:13,520 --> 00:00:16,720 Speaker 1: since the depths of the pandemic. Ubs share surge, as 5 00:00:16,720 --> 00:00:21,240 Speaker 1: earning speed estimates, Alphabet reports. Next Madernas COVID vaccine gets 6 00:00:21,239 --> 00:00:24,079 Speaker 1: full FDA approval for adults, and the calls for Prime 7 00:00:24,079 --> 00:00:27,400 Speaker 1: Minister Boris Johnson to step down grow louder. New York's 8 00:00:27,400 --> 00:00:30,280 Speaker 1: mass mandates remain in place for now. Plus New York 9 00:00:30,320 --> 00:00:34,040 Speaker 1: Mayor Adam says he's focusing on climate justice. I'm Michael 10 00:00:34,040 --> 00:00:37,240 Speaker 1: barr More, I'm John Stash Howard Sports Easy Win for 11 00:00:37,320 --> 00:00:40,199 Speaker 1: the next, The Devil's Lost, and Tom Brady refutes the 12 00:00:40,240 --> 00:00:45,559 Speaker 1: report he's decided to retire. That's all straight Ahead on 13 00:00:45,720 --> 00:00:51,520 Speaker 1: Bloomberg day Break on Bloomberg eleven Trio, New York, Bloomberg one, Washington, 14 00:00:51,600 --> 00:00:55,720 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, 15 00:00:55,720 --> 00:00:59,720 Speaker 1: San Francisco, Sirius x M one nineteen and around the 16 00:00:59,720 --> 00:01:02,520 Speaker 1: world Old on Bloomberg Radio dot Com and via The 17 00:01:02,600 --> 00:01:09,280 Speaker 1: Bloomberg Business At Good Morning. I'm Nathan Hager and I'm 18 00:01:09,360 --> 00:01:12,800 Speaker 1: Karen Moscow, and futures are moving lower this morning. We're 19 00:01:12,800 --> 00:01:14,440 Speaker 1: coming up to five o one on Wall Street, and 20 00:01:14,520 --> 00:01:16,919 Speaker 1: we check the markets every fifteen minutes throughout the trading 21 00:01:17,000 --> 00:01:21,040 Speaker 1: day on Bloomberg. Right now, SNP futures are down twelve points. Now, 22 00:01:21,160 --> 00:01:24,240 Speaker 1: futures down the seventy five, and as Deck futures down 23 00:01:24,280 --> 00:01:28,639 Speaker 1: twenties six. The decks in Germany is up about seven 24 00:01:28,640 --> 00:01:32,440 Speaker 1: tenths of upper sent the tenure treasury of six thirty seconds, 25 00:01:32,440 --> 00:01:35,319 Speaker 1: you had one point seven five percent, Nathan. All right, Karen, 26 00:01:35,400 --> 00:01:38,200 Speaker 1: Let's dig a little deeper into these markets. Now. January 27 00:01:38,400 --> 00:01:41,200 Speaker 1: was a rough month for US stocks, but they wrapped 28 00:01:41,319 --> 00:01:43,880 Speaker 1: up the month with the biggest two day rally in 29 00:01:43,920 --> 00:01:46,480 Speaker 1: more than twenty months. Let's get more now from Bloomberg's 30 00:01:46,520 --> 00:01:50,520 Speaker 1: Charlie Pellas beaten down technology shares power to late rebound. 31 00:01:50,640 --> 00:01:54,280 Speaker 1: The SMP five hundred rallied almost two percent for its 32 00:01:54,320 --> 00:01:58,120 Speaker 1: best back to back performance since April of twenty pairing 33 00:01:58,120 --> 00:02:01,240 Speaker 1: a monthly loss at at one point exceeded ten percent 34 00:02:01,560 --> 00:02:04,680 Speaker 1: to five point three percent, still the worst drop since 35 00:02:04,720 --> 00:02:08,360 Speaker 1: the pandemic bear market than ASTACK one hundreds. Rebound was 36 00:02:08,400 --> 00:02:11,800 Speaker 1: even sturdier with a six point six percent surge in 37 00:02:11,960 --> 00:02:15,400 Speaker 1: two sessions. Its members took such a walloping from most 38 00:02:15,440 --> 00:02:17,760 Speaker 1: of the month that it's still ended down eight and 39 00:02:17,800 --> 00:02:22,440 Speaker 1: a half percent, the worst since December of eighteen. In 40 00:02:22,600 --> 00:02:25,799 Speaker 1: New York. Charlie Pellett Bloomberg Day Break. All right, Charlie, 41 00:02:25,800 --> 00:02:28,400 Speaker 1: thank you. And despite the late gains, January hid many 42 00:02:28,440 --> 00:02:31,720 Speaker 1: traditional investors pretty hard. We get the details live with 43 00:02:31,800 --> 00:02:34,760 Speaker 1: the Bloomberg's Randa Young. Good morning, Radia, Good morning Karen. 44 00:02:34,840 --> 00:02:38,520 Speaker 1: The sixty forty portfolio suffered its worst monthly loss since 45 00:02:38,560 --> 00:02:41,959 Speaker 1: the start of the pandemic. The Bloomberg Index, which is 46 00:02:41,960 --> 00:02:45,120 Speaker 1: a split between equities and bonds, dropped four point to 47 00:02:45,240 --> 00:02:49,120 Speaker 1: percent in January. Equity and bond prices both saw sharp 48 00:02:49,240 --> 00:02:52,639 Speaker 1: declines last month as markets priced in faster rate hikes 49 00:02:52,639 --> 00:02:55,079 Speaker 1: from the Fed. And now it's all about how far 50 00:02:55,160 --> 00:02:58,440 Speaker 1: the fit Titans policy and how much inflation growth and 51 00:02:58,480 --> 00:03:01,640 Speaker 1: corporate earning slow as a result. So stay tuned for 52 00:03:01,720 --> 00:03:04,240 Speaker 1: more on the central Bank when we speak to Philadelphia 53 00:03:04,320 --> 00:03:07,240 Speaker 1: Fed President Patrick Harker. Here'll be a guest on Bloomberg 54 00:03:07,320 --> 00:03:09,920 Speaker 1: surveillance coming up at eight thirty am Wall Street Time 55 00:03:09,919 --> 00:03:13,600 Speaker 1: on Bloomberg Radio and Television Live in New York. I'm 56 00:03:13,639 --> 00:03:16,760 Speaker 1: Rania Young Bloomberg Daybreak, looking forward to that, Ranita, thank you. 57 00:03:16,919 --> 00:03:19,280 Speaker 1: Earnings will continue to be a focus as well today, 58 00:03:19,320 --> 00:03:23,200 Speaker 1: with two dozen companies in the SMP five reporting Alphabet 59 00:03:23,360 --> 00:03:26,640 Speaker 1: headlines the list, Let's get the preview from Bloomberg's Tom Busby, 60 00:03:27,040 --> 00:03:30,120 Speaker 1: the parent company of Google, expected to report strong growth 61 00:03:30,200 --> 00:03:33,760 Speaker 1: in online advertising, along with continued growth from ads and 62 00:03:33,760 --> 00:03:37,040 Speaker 1: its YouTube video channels and at its cloud computing unit. 63 00:03:37,400 --> 00:03:40,560 Speaker 1: Forecast call for total revenue of seventy one point eight 64 00:03:40,720 --> 00:03:43,440 Speaker 1: billion dollars, with over fifty eight billion of that from 65 00:03:43,520 --> 00:03:47,840 Speaker 1: Google Search, ads and earnings at thirty five a share, 66 00:03:48,080 --> 00:03:50,560 Speaker 1: Cheers of Alphabet up about forty seven percent in just 67 00:03:50,600 --> 00:03:54,560 Speaker 1: the last twelve months, Tom Busby, Bloomberg Daybreak, All right, Tom, 68 00:03:54,560 --> 00:03:56,720 Speaker 1: thank you. In Europe, shares of you Byes are up 69 00:03:56,720 --> 00:03:59,680 Speaker 1: more than six and a half percent. Switzerland's largest bank 70 00:03:59,720 --> 00:04:03,280 Speaker 1: post it earnings that top estimate. CEO Ralph Hammer says 71 00:04:03,320 --> 00:04:05,960 Speaker 1: U b S is also working to retain talent. We 72 00:04:06,040 --> 00:04:10,200 Speaker 1: pay competitively, We pay for performance. We have the talent 73 00:04:10,240 --> 00:04:15,120 Speaker 1: to make our our plan uh and to the extent 74 00:04:15,600 --> 00:04:17,600 Speaker 1: we need to pay up, we will do so as 75 00:04:17,640 --> 00:04:20,680 Speaker 1: we have done so last year. CEO Ralph Hammer says 76 00:04:20,680 --> 00:04:22,560 Speaker 1: you b S will buy back as much as five 77 00:04:22,600 --> 00:04:25,839 Speaker 1: billion dollars of shares this year, almost doubling it's total 78 00:04:25,920 --> 00:04:29,160 Speaker 1: buyback program. Oils in focus this morning as well. Kreen 79 00:04:29,200 --> 00:04:31,800 Speaker 1: trading your seven year high and have this week's so 80 00:04:31,960 --> 00:04:34,960 Speaker 1: Peck plus meeting. Stephen Shork, president of the Short Group, 81 00:04:35,000 --> 00:04:37,960 Speaker 1: says prices will head even higher this summer. I would 82 00:04:37,960 --> 00:04:40,039 Speaker 1: expect to see a pull back. We're going into the 83 00:04:40,080 --> 00:04:43,280 Speaker 1: weakest demand part of the season as refiners retool, but 84 00:04:43,400 --> 00:04:47,440 Speaker 1: as demand begins to pick up spring and into summer probability, 85 00:04:47,480 --> 00:04:50,039 Speaker 1: we will be over one dollar a battle here in 86 00:04:50,080 --> 00:04:53,000 Speaker 1: the US. Oil strategist Stephen Short says Russia and O 87 00:04:53,120 --> 00:04:55,839 Speaker 1: Pecker in no hurry to bring back full production. Checking 88 00:04:55,880 --> 00:04:58,440 Speaker 1: prices now, they're moving lower on the session, with nime 89 00:04:58,520 --> 00:05:00,800 Speaker 1: X crew down nine tenths per cent eighty two cents 90 00:05:00,800 --> 00:05:03,720 Speaker 1: at eighty seven dollars thirty two cents of barrel Brent 91 00:05:03,920 --> 00:05:06,599 Speaker 1: is down one percent at eighty eight dollars forty cents. 92 00:05:06,920 --> 00:05:10,080 Speaker 1: Turning to the pandemic now, Nathan Maderna has reached a 93 00:05:10,160 --> 00:05:13,880 Speaker 1: long awaited milestone. The company's COVID vaccine has received full 94 00:05:13,920 --> 00:05:16,920 Speaker 1: approval from the FDA for people eighteen and older. Is 95 00:05:17,000 --> 00:05:20,039 Speaker 1: Sean had previously been available to adults under an emergency 96 00:05:20,240 --> 00:05:23,240 Speaker 1: use authorization. At the same time, care and COVID restrictions 97 00:05:23,279 --> 00:05:26,640 Speaker 1: could pull meat off the shelves at your grocery. Truckers 98 00:05:26,680 --> 00:05:31,080 Speaker 1: protesting pandemic restrictions are stranding shipments of beef coming from 99 00:05:31,120 --> 00:05:34,640 Speaker 1: Canada into the US, Bloomberg said. Baxter has the story. 100 00:05:34,800 --> 00:05:37,279 Speaker 1: One hundred fifty loads are holding at the Coats Alberta 101 00:05:37,360 --> 00:05:40,359 Speaker 1: border with Montana on current mandates require the truckers to 102 00:05:40,360 --> 00:05:43,240 Speaker 1: be vaccinated, and some of them have set up blockages 103 00:05:43,320 --> 00:05:45,880 Speaker 1: to stop the flow in. This comes at a time 104 00:05:45,920 --> 00:05:48,480 Speaker 1: when both sides of the border worry about supply chain 105 00:05:48,520 --> 00:05:50,760 Speaker 1: and concern about what this could do to the cost 106 00:05:50,800 --> 00:05:53,800 Speaker 1: of beef to consumers and damage the truckers and their 107 00:05:53,839 --> 00:05:56,719 Speaker 1: loads if they can't finish. It is not clear what 108 00:05:56,839 --> 00:06:01,560 Speaker 1: provincial or federal authorities are doing, if anything. In San Francisco, 109 00:06:01,600 --> 00:06:04,719 Speaker 1: I'm at Baxter Bloomberg Daybreak, Hey, thank you. Meantime, in Europe, 110 00:06:04,720 --> 00:06:07,760 Speaker 1: the political fallout from party Gate continues. You can Prime 111 00:06:07,760 --> 00:06:10,880 Speaker 1: Minister Boris Johnson is again under fire from members of 112 00:06:10,880 --> 00:06:13,599 Speaker 1: his own Conservative party. Let's go to London now and 113 00:06:13,640 --> 00:06:15,800 Speaker 1: get the latest Live with Bloomberg's You and Parts You 114 00:06:15,880 --> 00:06:18,520 Speaker 1: and Good Morning, Good Morning, Karen and Nathan. Another day, 115 00:06:18,560 --> 00:06:21,840 Speaker 1: another apology from the UK Prime Minister Boris Johnson, facing 116 00:06:21,920 --> 00:06:25,200 Speaker 1: fresh anger after the publication of an official report into 117 00:06:25,279 --> 00:06:28,840 Speaker 1: lockdown breaking parties at Downing Streets. It said there were 118 00:06:28,920 --> 00:06:32,039 Speaker 1: quote failures of leadership and judgments at the top of 119 00:06:32,080 --> 00:06:34,479 Speaker 1: his governments and there were events that should not have 120 00:06:34,560 --> 00:06:37,159 Speaker 1: been allowed to take place at the part Minister said 121 00:06:37,160 --> 00:06:40,440 Speaker 1: he would fix things at Westminster. The Metropolitan Police confirmed 122 00:06:40,640 --> 00:06:44,360 Speaker 1: it is now investigating twelve lockdown gatherings in government buildings, 123 00:06:44,600 --> 00:06:48,400 Speaker 1: including in Johnson's own apartment. Live in London, I'm you 124 00:06:48,480 --> 00:06:50,760 Speaker 1: in pots in Big Daybreak, Okay you and thanks training 125 00:06:50,760 --> 00:06:53,000 Speaker 1: to Corporate News Now. Bloomberg News has learned the Federal 126 00:06:53,000 --> 00:06:55,800 Speaker 1: Trade Commission will handle the anti trust review of Microsoft's 127 00:06:55,800 --> 00:06:58,960 Speaker 1: acquisition of Activision Blizzard. The review will focus on the 128 00:06:58,960 --> 00:07:03,560 Speaker 1: combination of Activisi gaming portfolio with Microsoft's consoles and hardware systems. 129 00:07:03,839 --> 00:07:06,520 Speaker 1: And Nathan The New York Times is buying Wordal. Wordal 130 00:07:06,600 --> 00:07:09,120 Speaker 1: is a word guessing game that has had a meteoric 131 00:07:09,440 --> 00:07:12,160 Speaker 1: rise online. The game has millions of daily users, and 132 00:07:12,200 --> 00:07:14,640 Speaker 1: it's part of the New York Times plan to increase 133 00:07:14,760 --> 00:07:19,160 Speaker 1: digital subscriptions. Straight ahead your latest local headlines. This is Bloomberg, 134 00:07:23,240 --> 00:07:25,000 Speaker 1: all right, Karen, thank you. It's five oh seven on 135 00:07:25,000 --> 00:07:27,520 Speaker 1: Wall Street where twenty four degrees in Central Park. Here's 136 00:07:27,520 --> 00:07:30,280 Speaker 1: a five letter word for you. Crash. There's a truck 137 00:07:30,320 --> 00:07:33,080 Speaker 1: crash on the westbound Gwanas headed to Hamilton Avenue. Details 138 00:07:33,120 --> 00:07:35,280 Speaker 1: coming up in traffic. First Michael bar with more on 139 00:07:35,360 --> 00:07:36,800 Speaker 1: what's going on in New York and around the world. 140 00:07:36,840 --> 00:07:39,960 Speaker 1: Good morning, Michael, Good morning Nathan. New York's requirement that 141 00:07:40,120 --> 00:07:43,400 Speaker 1: masks be worn in schools and businesses that don't screen 142 00:07:43,480 --> 00:07:46,800 Speaker 1: for vaccination will remain in place while a state court 143 00:07:46,880 --> 00:07:50,040 Speaker 1: considers a challenge to it. The New York State Supreme 144 00:07:50,040 --> 00:07:53,880 Speaker 1: Court ruling comes after a brief whipsaw last week that 145 00:07:53,960 --> 00:07:56,480 Speaker 1: saw the mask man date upended by a Long Island 146 00:07:56,560 --> 00:08:00,960 Speaker 1: judge before being temporarily reinstated the next day. Governor Kafey 147 00:08:01,000 --> 00:08:04,520 Speaker 1: Hokel's administration imposed the mandate in December and response to 148 00:08:04,600 --> 00:08:08,200 Speaker 1: rising COVID nineteen cases. Awake will be held today for 149 00:08:08,240 --> 00:08:11,720 Speaker 1: the second NYPD officer killed in an ambush in Harlem 150 00:08:11,840 --> 00:08:15,080 Speaker 1: last month. Services will be held for Wilbert Mora, who 151 00:08:15,160 --> 00:08:18,760 Speaker 1: was twenty seven. New York City Mayor Eric Adams announced 152 00:08:18,760 --> 00:08:22,200 Speaker 1: an environmental team to lead climate policy for the city. 153 00:08:22,240 --> 00:08:25,800 Speaker 1: Adams says he will focus on what he called climate 154 00:08:25,920 --> 00:08:29,840 Speaker 1: justice and address recent extreme weather events. We saw the 155 00:08:30,040 --> 00:08:34,080 Speaker 1: storm of where we lost several New Yorkers. Based on 156 00:08:34,160 --> 00:08:37,760 Speaker 1: the storm, we noted challenges that are facing us as 157 00:08:37,760 --> 00:08:42,040 Speaker 1: we cycle off of fossil fuel and moving another direction. 158 00:08:42,240 --> 00:08:45,360 Speaker 1: Mayor Adams. The government has rested in the fraud trial 159 00:08:45,400 --> 00:08:50,400 Speaker 1: of attorney Michael Avenati in Manhattan Federal Court. Prosecutors allege 160 00:08:50,440 --> 00:08:53,720 Speaker 1: Avenati stole nearly three hundred thousand dollars in book proceeds 161 00:08:53,760 --> 00:08:57,800 Speaker 1: allotted to retired porn star and former client Stormy Daniels 162 00:08:58,040 --> 00:09:01,040 Speaker 1: Abanati acting as his own attorne. He says he hasn't 163 00:09:01,040 --> 00:09:04,080 Speaker 1: decided yet if he will testify from time to time. 164 00:09:04,559 --> 00:09:06,880 Speaker 1: You know, I examined what evidence is in and whatever 165 00:09:06,920 --> 00:09:10,000 Speaker 1: this does not and uh what the government has proven 166 00:09:10,000 --> 00:09:12,880 Speaker 1: and what they haven't, and it's been ultimately only the decision. 167 00:09:13,360 --> 00:09:16,720 Speaker 1: Attorney Evanadi says he didn't do any of the misdeeds 168 00:09:16,760 --> 00:09:20,920 Speaker 1: the government alleges in the trial. Justice Stephen Bryer's retirement 169 00:09:20,920 --> 00:09:24,600 Speaker 1: announcement prompted President Biden to make good on his campaign 170 00:09:24,679 --> 00:09:27,640 Speaker 1: promise to name a black woman to the nation's highest court. 171 00:09:28,040 --> 00:09:31,719 Speaker 1: Right Now spokesperson Jen Psaki pointed out that two Republican 172 00:09:31,800 --> 00:09:35,840 Speaker 1: presidents were first in being specific in their justice searches. 173 00:09:36,040 --> 00:09:38,640 Speaker 1: President Reagan promised the country he would nominate the country's 174 00:09:38,679 --> 00:09:40,640 Speaker 1: first woman to serve on the court, and he did so. 175 00:09:41,240 --> 00:09:43,800 Speaker 1: Former President Trump also promised to choose a woman just 176 00:09:44,440 --> 00:09:46,760 Speaker 1: over a year ago, and there was no such complaint 177 00:09:47,160 --> 00:09:49,480 Speaker 1: from the voices on the right who are speaking out. Now. 178 00:09:49,600 --> 00:09:53,000 Speaker 1: Spokesperson Jen Psaki has a new ABC poll found that 179 00:09:53,080 --> 00:09:56,199 Speaker 1: seventy six of Americans field the president should consider all 180 00:09:56,280 --> 00:09:59,360 Speaker 1: qualified candidates. Global News twenty four hours a day on 181 00:09:59,440 --> 00:10:01,679 Speaker 1: a ran on Bloomberg Quick Take, powered by more than 182 00:10:01,679 --> 00:10:04,360 Speaker 1: twenty seven hundred journalists, analysts, and more than a hundred 183 00:10:04,360 --> 00:10:07,240 Speaker 1: twenty countries' MICHAELA. Bard, this is Bloomberg. Nathan, alright, Michael, 184 00:10:07,280 --> 00:10:13,839 Speaker 1: thank you, almost five ten on Wall Street time for 185 00:10:13,840 --> 00:10:16,480 Speaker 1: the Bloomberg Sports Update. Morning. John Stann Shower alright, morning, 186 00:10:16,559 --> 00:10:18,680 Speaker 1: Nathan Nicks just had a tough three game road trip, 187 00:10:18,760 --> 00:10:21,240 Speaker 1: lost all three. They've got a five game West Coast 188 00:10:21,240 --> 00:10:23,280 Speaker 1: trip starting this weekend, in between a couple of home 189 00:10:23,280 --> 00:10:25,559 Speaker 1: games and a rare easy win at the Guarden won 190 00:10:25,600 --> 00:10:29,120 Speaker 1: sixteen nineties six over Sacramento Alec Burke's the high Man 191 00:10:29,120 --> 00:10:31,040 Speaker 1: twenty one point seven four and you got the Nicks 192 00:10:31,080 --> 00:10:33,520 Speaker 1: going with sixteen in the first quarter. It'll be tougher 193 00:10:33,600 --> 00:10:37,319 Speaker 1: tomorrow against John Morant and Memphis. Morant scored thirty seven 194 00:10:37,400 --> 00:10:40,199 Speaker 1: last night with the Grizlies lost in overtime in Philadelphia. 195 00:10:40,280 --> 00:10:43,240 Speaker 1: The Sixers won despite not playing their star Joe lmb. 196 00:10:43,400 --> 00:10:46,440 Speaker 1: Celtics beat the Heat by twenty. Warriors won in Houston. 197 00:10:46,480 --> 00:10:49,600 Speaker 1: Steph Curry scored forty. Devils blew a four to third 198 00:10:49,640 --> 00:10:52,640 Speaker 1: period lead. Lost in Toronto six for Austin Matthews the 199 00:10:52,640 --> 00:10:55,000 Speaker 1: hat trick for the Leafs. Devils won three and nine 200 00:10:55,040 --> 00:10:58,080 Speaker 1: in January. Tom Brady said last night he may retire. 201 00:10:58,480 --> 00:11:01,000 Speaker 1: He may not, but on his pot asked, he insisted 202 00:11:01,040 --> 00:11:03,800 Speaker 1: that decision has not yet been made. Brady said he 203 00:11:03,840 --> 00:11:07,040 Speaker 1: was enjoying a quiet weekend until the ESPN report on 204 00:11:07,080 --> 00:11:10,160 Speaker 1: Saturday that his career was over. Bryan Dave All introduced 205 00:11:10,240 --> 00:11:12,800 Speaker 1: is the Giants twenty f head coach. He got high 206 00:11:12,840 --> 00:11:15,200 Speaker 1: marks for his work with Josh Allen and Buffalo. His 207 00:11:15,280 --> 00:11:18,400 Speaker 1: new quarterback is Daniel Jones. Like, we're not gonna make 208 00:11:18,440 --> 00:11:20,600 Speaker 1: any predictions, and I want to do that to Daniel 209 00:11:20,640 --> 00:11:22,640 Speaker 1: or really anything. I don't think that's fair to compare 210 00:11:22,720 --> 00:11:25,600 Speaker 1: him to another guy that I was working with. Um, 211 00:11:25,640 --> 00:11:27,960 Speaker 1: you know, he's he's himself. We're gonna find out what 212 00:11:28,040 --> 00:11:30,120 Speaker 1: he does well. We're gonna try to implement a system 213 00:11:30,160 --> 00:11:32,680 Speaker 1: that suits him, and then it's our job to bring 214 00:11:32,679 --> 00:11:34,880 Speaker 1: pieces in that help him to be the best version 215 00:11:34,880 --> 00:11:37,240 Speaker 1: of himself and the best quarterback for us. Table said 216 00:11:37,240 --> 00:11:40,400 Speaker 1: he was impressed Jones venture through Saturday snowstorm to work 217 00:11:40,400 --> 00:11:43,080 Speaker 1: out report the day ball, bringing offensive line coach Bobby 218 00:11:43,160 --> 00:11:46,079 Speaker 1: Johnson with him from Buffalo and Patrick Graham will continue 219 00:11:46,400 --> 00:11:48,920 Speaker 1: as defensive cordator unless he gets a head coaching. John 220 00:11:49,320 --> 00:11:52,200 Speaker 1: John stash Award, Bloomberg Sports, Nathan all Right, John thanks 221 00:11:52,240 --> 00:11:55,080 Speaker 1: has some futures down down seven points down, futures down 222 00:11:55,120 --> 00:11:58,079 Speaker 1: forty three. Nastack future is lower by three points, the 223 00:11:58,160 --> 00:12:03,240 Speaker 1: tenure up five thirty seconds. The yield one. This is 224 00:12:03,240 --> 00:12:09,640 Speaker 1: Bloomberg Bloomberg eleven three of weather. Clouds will increase today. 225 00:12:09,640 --> 00:12:12,400 Speaker 1: We'll get in the mid thirties, cloudy, low forties tomorrow, 226 00:12:12,720 --> 00:12:15,920 Speaker 1: afternoon rain on Thursday with a high near fifty degrees. 227 00:12:16,040 --> 00:12:23,760 Speaker 1: Currently twenty four in Central Park Markets. Headlines and breaking 228 00:12:23,800 --> 00:12:26,680 Speaker 1: news twenty four hours a day at Bloomberg dot Com, 229 00:12:26,760 --> 00:12:30,319 Speaker 1: The Bloomberg Business Outland at Bloomberg Quick Take, this is 230 00:12:30,360 --> 00:12:39,920 Speaker 1: a Bloomberg business lash and I'm Cameron Moscow. Global stocks 231 00:12:39,920 --> 00:12:43,040 Speaker 1: are extending a rally as Fetter Reserve officials caution against 232 00:12:43,040 --> 00:12:47,040 Speaker 1: disruptive policy tightening and US companies signal another strong earning season. 233 00:12:47,360 --> 00:12:49,960 Speaker 1: US index futures are raised to their gains in line 234 00:12:49,960 --> 00:12:52,880 Speaker 1: with volatile moves seen over the past several days. Protect 235 00:12:52,920 --> 00:12:55,840 Speaker 1: the markets every fifteen minutes throughout the trading day on Bloomberg. 236 00:12:55,920 --> 00:12:59,040 Speaker 1: Right now, SMP futures are down about thirteen points down, 237 00:12:59,120 --> 00:13:02,440 Speaker 1: futures down seven three, nasdack teachers down twenty one. The 238 00:13:02,559 --> 00:13:04,880 Speaker 1: decks in Germany's up eight tenth se per cent, the 239 00:13:04,960 --> 00:13:07,160 Speaker 1: ten your treasury up five thirty seconds. He had one 240 00:13:07,160 --> 00:13:09,839 Speaker 1: point seven five per cent yield on the two year 241 00:13:09,920 --> 00:13:12,960 Speaker 1: one point one six set nine X screwed oils down 242 00:13:13,000 --> 00:13:15,040 Speaker 1: one per cent or eighty six cents at eighty seven 243 00:13:15,040 --> 00:13:17,800 Speaker 1: dollars thirty one cents a barrel. Comics gold up six 244 00:13:17,800 --> 00:13:20,120 Speaker 1: tents per cent or ten dollars fifty cents at eighteen 245 00:13:20,120 --> 00:13:22,959 Speaker 1: o six ninety. Announced the euro one point one to 246 00:13:23,160 --> 00:13:25,720 Speaker 1: six zero against the dollar, British found one point three 247 00:13:25,800 --> 00:13:28,960 Speaker 1: five and ens at one fourteen point seven one, and 248 00:13:29,040 --> 00:13:32,040 Speaker 1: Bitcoin this morning moving lower at thirty eight thousand, one 249 00:13:32,120 --> 00:13:35,280 Speaker 1: hundred dollars as of Bloomberg Business Flash. Now Here's Michael 250 00:13:35,280 --> 00:13:38,000 Speaker 1: Barr with Moore on what's going on around the world. Michael, 251 00:13:38,000 --> 00:13:42,520 Speaker 1: good morning, Good morning, Karen. Senators negotiating a sansience package 252 00:13:42,559 --> 00:13:45,800 Speaker 1: intended to deter a Russian invasion of ukrank sent and 253 00:13:45,920 --> 00:13:49,920 Speaker 1: they're optimistic they'll resolve lingering disagreements and strike a deal 254 00:13:50,000 --> 00:13:53,040 Speaker 1: this week. Game while Russia accused the West of whipping 255 00:13:53,120 --> 00:13:56,600 Speaker 1: up tensions over Ukraine and said the US had brought 256 00:13:56,760 --> 00:14:01,319 Speaker 1: pure Nazis to power in Kiev. U S regulators are 257 00:14:01,400 --> 00:14:05,080 Speaker 1: said to be urging drugmaker Finder to apply for emergency 258 00:14:05,120 --> 00:14:09,520 Speaker 1: authorization for a two dose regiment of its COVID nineteen 259 00:14:09,679 --> 00:14:13,280 Speaker 1: vaccine for children six months to five years old. The 260 00:14:13,320 --> 00:14:16,120 Speaker 1: Biden administration aims to clear the way for the shots 261 00:14:16,120 --> 00:14:19,280 Speaker 1: as soon as late February in the NBA, The Next 262 00:14:19,320 --> 00:14:22,560 Speaker 1: Celtics and Warriors one in the NHL, The Devil's Lost. 263 00:14:22,880 --> 00:14:25,560 Speaker 1: Global News twenty four hours a day on air and 264 00:14:25,760 --> 00:14:29,440 Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred 265 00:14:29,480 --> 00:14:32,600 Speaker 1: journalists and analysts in more than one twenty countries. I'm 266 00:14:32,640 --> 00:14:35,400 Speaker 1: Michael bar This is Bloomberg. Nathan. Okay, Michael. Thanks. It's 267 00:14:35,440 --> 00:14:38,240 Speaker 1: five nineteen on Wall Street Live from the Bloomberg Interactive 268 00:14:38,240 --> 00:14:41,360 Speaker 1: Brokers Studios. This is Bloomberg Daybreak. As we get ready 269 00:14:41,360 --> 00:14:44,800 Speaker 1: to embark on the trading month of February, Patrick Armstrong 270 00:14:45,000 --> 00:14:48,360 Speaker 1: joins us now chief investment Officer at Blaremi Wealth. Before 271 00:14:48,360 --> 00:14:51,120 Speaker 1: we do, Patrick, let's look back at January. What a 272 00:14:51,240 --> 00:14:56,840 Speaker 1: wild ride. What's in store? Um? Yeah, But January there 273 00:14:56,840 --> 00:14:59,560 Speaker 1: weren't many places to hide. If you were a traditional investor. 274 00:14:59,640 --> 00:15:04,160 Speaker 1: You saw equities down five to seven percent, and bonds, treasuries, 275 00:15:04,200 --> 00:15:06,160 Speaker 1: corporate bonds, all of those were down about a couple 276 00:15:06,200 --> 00:15:09,280 Speaker 1: of percent. Gold was almost down two percent. So if 277 00:15:09,320 --> 00:15:12,120 Speaker 1: your mandate was long only you struggled. You have to 278 00:15:12,120 --> 00:15:15,760 Speaker 1: have some allocation to basically industrial commodities or energy with 279 00:15:15,920 --> 00:15:18,760 Speaker 1: the places to hide in January, and I think once 280 00:15:18,800 --> 00:15:22,560 Speaker 1: we get into February, it's going to be driven by earnings. 281 00:15:22,640 --> 00:15:25,800 Speaker 1: The equity market, it's really been driven by the outlook 282 00:15:25,840 --> 00:15:27,800 Speaker 1: for the fat how many hikes are coming in twenty 283 00:15:27,920 --> 00:15:30,440 Speaker 1: twenty two, and I think that's really led to a 284 00:15:30,480 --> 00:15:33,120 Speaker 1: contraction of the high multiple stocks in January. I think 285 00:15:33,160 --> 00:15:37,000 Speaker 1: that probably continues. But the companies that are reporting earnings 286 00:15:37,000 --> 00:15:40,960 Speaker 1: that are beating raising expectations, I think as long as 287 00:15:40,960 --> 00:15:43,600 Speaker 1: they are producing earnings already, those are the kind of 288 00:15:43,640 --> 00:15:46,600 Speaker 1: companies you can feel comfortable to buy in February. So 289 00:15:46,680 --> 00:15:50,080 Speaker 1: what kind of further resetting are you expecting for equities? 290 00:15:50,240 --> 00:15:54,400 Speaker 1: Do you have targets in mind? I think S and 291 00:15:54,480 --> 00:15:56,960 Speaker 1: Deal probably in the year higher. So we're off to 292 00:15:57,000 --> 00:15:59,560 Speaker 1: a week start obviously down around six percent, but I 293 00:15:59,600 --> 00:16:02,600 Speaker 1: think it will reclaim that and probably do another five 294 00:16:02,680 --> 00:16:05,360 Speaker 1: or six percent from here, so maybe ten percent up 295 00:16:05,480 --> 00:16:08,200 Speaker 1: by your end. And it's going to be driven by 296 00:16:08,320 --> 00:16:10,960 Speaker 1: earnings growth. So the economy is still growing. We expect 297 00:16:11,000 --> 00:16:13,720 Speaker 1: yours economy to grow at four percent. Company they're buying 298 00:16:13,760 --> 00:16:18,240 Speaker 1: back shares to engineer some EPs. Growth and consumption is 299 00:16:18,360 --> 00:16:20,840 Speaker 1: a big tail wind for equity earnings. We think that 300 00:16:20,920 --> 00:16:25,640 Speaker 1: continues with the economy continuing to reopening to reopen, and 301 00:16:26,400 --> 00:16:28,520 Speaker 1: pent up demand is still a theme that's going to 302 00:16:28,560 --> 00:16:30,720 Speaker 1: play out this year. Is there a risk that a 303 00:16:30,840 --> 00:16:33,840 Speaker 1: tighter FED eats into that earnings growth view? For you? 304 00:16:35,200 --> 00:16:38,680 Speaker 1: There's a risk of it, and it's a risk I'm 305 00:16:38,720 --> 00:16:41,760 Speaker 1: aware of, but it's a risk I don't think is 306 00:16:41,920 --> 00:16:44,040 Speaker 1: going to be that material. I think the set is 307 00:16:44,160 --> 00:16:47,240 Speaker 1: very aware of the implications of every hike they do. 308 00:16:47,360 --> 00:16:49,800 Speaker 1: I think they'll be measured, and I think they will 309 00:16:49,880 --> 00:16:52,800 Speaker 1: hike four times. I expect it will be four times 310 00:16:52,800 --> 00:16:55,520 Speaker 1: this year, but the economy should be able to handle that. 311 00:16:55,520 --> 00:16:59,600 Speaker 1: That still leaves interest rates at a very accommodative level 312 00:16:59,640 --> 00:17:03,000 Speaker 1: as we exit two, so I don't think that should 313 00:17:03,040 --> 00:17:07,560 Speaker 1: disrupt economic growth. I think inflation probably is keiking now, 314 00:17:07,680 --> 00:17:09,639 Speaker 1: and the FED will be able to comfort themselves that 315 00:17:09,680 --> 00:17:12,320 Speaker 1: they're doing enough as they see inflation prints starts come 316 00:17:12,400 --> 00:17:15,840 Speaker 1: down still way above their targets. But I don't think 317 00:17:15,880 --> 00:17:18,480 Speaker 1: we're in an environment where the FED is really going 318 00:17:18,520 --> 00:17:21,359 Speaker 1: to want to provoke a recession. Let's take a little 319 00:17:21,359 --> 00:17:24,720 Speaker 1: deeper into your view on earnings. How do you see 320 00:17:24,760 --> 00:17:31,720 Speaker 1: the earnings backdrop right now, which sectors look more attractive? UM, 321 00:17:31,760 --> 00:17:36,800 Speaker 1: it's blood based, UM, any stock that's selling to a consumer, 322 00:17:37,000 --> 00:17:40,240 Speaker 1: especially an affluent consumer. I think the luxury stocks looks 323 00:17:40,320 --> 00:17:43,199 Speaker 1: very good. You saw very strong results from LVMH and 324 00:17:43,359 --> 00:17:47,880 Speaker 1: Richmond in Europe. I think there's just so much disposable 325 00:17:47,920 --> 00:17:51,480 Speaker 1: income there and they're almost in elastic demand, so these 326 00:17:51,480 --> 00:17:55,160 Speaker 1: companies can charge what they want. We've recently added LVMH 327 00:17:55,240 --> 00:17:58,639 Speaker 1: and it's that's not going to change. Those stocks traded 328 00:17:58,680 --> 00:18:02,080 Speaker 1: premium multiples, but the earnings just continually improved. They buy 329 00:18:02,080 --> 00:18:05,040 Speaker 1: back shares and generate massive returns on equity, so that's 330 00:18:05,040 --> 00:18:08,359 Speaker 1: probably a preferred segment right now. It's been interesting as 331 00:18:08,400 --> 00:18:12,720 Speaker 1: well to see sort of a divergence lately between US 332 00:18:12,800 --> 00:18:16,600 Speaker 1: stocks and European Do you expect that to continue? Do 333 00:18:16,880 --> 00:18:22,560 Speaker 1: overseas shares look more attractive right now? To me, they 334 00:18:22,600 --> 00:18:25,879 Speaker 1: look more attractive. They're always cheaper than American shares, and 335 00:18:25,920 --> 00:18:28,480 Speaker 1: that's given I suppose they don't have the technology waiting 336 00:18:28,480 --> 00:18:31,040 Speaker 1: where the premium multiples are really justified in the US. 337 00:18:31,160 --> 00:18:34,560 Speaker 1: But we've got a FED who's leading hawk is. We've 338 00:18:34,600 --> 00:18:38,240 Speaker 1: got an ECBs meeting this week, UM and they were 339 00:18:38,359 --> 00:18:40,879 Speaker 1: going to remain devilish. I don't know if the ECB 340 00:18:41,080 --> 00:18:43,120 Speaker 1: hikes once this year. If they do hike, it will 341 00:18:43,160 --> 00:18:46,199 Speaker 1: be a small hike in December. So we've got a 342 00:18:46,280 --> 00:18:50,120 Speaker 1: big policy divergence that should lead to a stronger dollar um. 343 00:18:50,160 --> 00:18:53,440 Speaker 1: The weaker euro should um be a benefit for the 344 00:18:53,520 --> 00:18:57,000 Speaker 1: multinational companies domicels in Europe that have dollar revenues. So 345 00:18:57,359 --> 00:19:00,119 Speaker 1: I like the attractive valuation in Europe and the more 346 00:19:00,119 --> 00:19:04,040 Speaker 1: accommodative monetary policy. Only about thirty seconds left here, Patrick, 347 00:19:04,080 --> 00:19:06,320 Speaker 1: But are you looking for more volatility in the month 348 00:19:06,320 --> 00:19:08,520 Speaker 1: of February and if so, how do you take advantage? 349 00:19:10,080 --> 00:19:13,040 Speaker 1: I think there's bound to be volatility because the Fed 350 00:19:13,520 --> 00:19:17,359 Speaker 1: is moving from quantitative easing to quantitative tightening, and it 351 00:19:17,480 --> 00:19:20,679 Speaker 1: just is moving from an environment where that suppresses volatility, 352 00:19:20,720 --> 00:19:23,560 Speaker 1: but probably one word enhances it. So as long as 353 00:19:23,560 --> 00:19:25,720 Speaker 1: you've got affirmed you on assets that you like on 354 00:19:25,840 --> 00:19:28,680 Speaker 1: the market is going to present opportunities to buy those assets. 355 00:19:28,720 --> 00:19:31,640 Speaker 1: And without a recession, I don't think we go into 356 00:19:31,680 --> 00:19:33,720 Speaker 1: a bear market, so you don't want to buy every 357 00:19:33,720 --> 00:19:35,920 Speaker 1: dip the way you did in previous years, but significant 358 00:19:36,000 --> 00:19:39,359 Speaker 1: drawdowns are good companies. I think I will present opportunities. 359 00:19:39,840 --> 00:19:41,680 Speaker 1: Thanks for this, Patrick could having you on with us 360 00:19:41,680 --> 00:19:46,119 Speaker 1: this morning. Patrick Armstrong, Chief Investment Officer at Plurimi Wealth. 361 00:19:46,720 --> 00:19:49,240 Speaker 1: Looking at markets at the moment, we are continuing to 362 00:19:49,280 --> 00:19:53,600 Speaker 1: see the divergence between US and European shares. SMP futures 363 00:19:53,600 --> 00:19:56,320 Speaker 1: are down twelve points down, futures down eight six dance 364 00:19:56,359 --> 00:20:00,560 Speaker 1: that futures down almost fifteen points. Germany's X the CACK 365 00:20:00,640 --> 00:20:03,680 Speaker 1: in Paris up about seven tenths of one percent. This 366 00:20:03,840 --> 00:20:08,639 Speaker 1: is Bloomberg and Bloomberg Day Break is brought to you 367 00:20:08,640 --> 00:20:10,960 Speaker 1: by the Breakers. This winter, a warm welcome awaits you. 368 00:20:11,400 --> 00:20:13,480 Speaker 1: The Breakers is committed to making your stay even better 369 00:20:13,520 --> 00:20:17,080 Speaker 1: with exceptional experiences, gracious service and unparalleled seaside glamour. To 370 00:20:17,160 --> 00:20:23,320 Speaker 1: learn more, visit the Breakers dot Com. Today broadcasting live 371 00:20:23,480 --> 00:20:27,480 Speaker 1: from the Bloomberg Interactive Broker Studio in New York, Bloomberg 372 00:20:27,480 --> 00:20:31,560 Speaker 1: E Loving Freedom to Washington, d C. Bloomberg to Boston, 373 00:20:31,640 --> 00:20:35,080 Speaker 1: Bloomberg one oh six one to San Francisco, Bloomberg nine 374 00:20:35,119 --> 00:20:38,200 Speaker 1: sixty to the Country Sirius XM Chad A one nine team, 375 00:20:38,320 --> 00:20:41,480 Speaker 1: and around the globe the Bloomberg Business at and Bloomberg 376 00:20:41,560 --> 00:20:51,280 Speaker 1: Radio dot com. This is Bloomberg Daybreak. It's five thirty 377 00:20:51,320 --> 00:20:53,760 Speaker 1: on Wall Street. Good morning. I'm Nathan Hagar and I'm 378 00:20:53,800 --> 00:20:56,520 Speaker 1: Karin Moscow, and we're just about four hours away from 379 00:20:56,520 --> 00:20:58,320 Speaker 1: the open of US trading. Let's get you have to 380 00:20:58,400 --> 00:20:59,760 Speaker 1: date on the news. You need to know what this. 381 00:21:00,000 --> 00:21:02,600 Speaker 1: Our US futures are lower this morning to begin the 382 00:21:02,640 --> 00:21:05,320 Speaker 1: new month. The SNP five is coming off a two 383 00:21:05,400 --> 00:21:08,200 Speaker 1: day rally, but January was still the worst monthly loss 384 00:21:08,200 --> 00:21:11,400 Speaker 1: since the depths of the pandemic. Tech has been hardest, 385 00:21:11,520 --> 00:21:15,000 Speaker 1: and some money managers say it's a buying opportunity. Sarah 386 00:21:15,080 --> 00:21:17,720 Speaker 1: Hunt at Alpine Was Capital says chip makers are a 387 00:21:17,760 --> 00:21:21,159 Speaker 1: particular bargain right now. You've got some fifteen times earning 388 00:21:21,160 --> 00:21:23,560 Speaker 1: stocks and some of the ship makers, who've got some 389 00:21:23,600 --> 00:21:25,679 Speaker 1: of the chip equipment makers, so they're cheaper now too 390 00:21:25,720 --> 00:21:27,480 Speaker 1: than they were before. And I think that there's some 391 00:21:27,640 --> 00:21:30,080 Speaker 1: real growth ahead because you're going to continue to move 392 00:21:30,400 --> 00:21:32,879 Speaker 1: where we're making semiconductors. So I think that there's a 393 00:21:32,880 --> 00:21:34,800 Speaker 1: long runway for some of these stocks to grow, and 394 00:21:34,840 --> 00:21:36,920 Speaker 1: I think that that is what people are going to 395 00:21:36,960 --> 00:21:39,760 Speaker 1: be looking for as we go forward. Overall. Sarah Hunt 396 00:21:39,760 --> 00:21:42,720 Speaker 1: at Alpine Wood sees the tech sector bouncing back from 397 00:21:42,720 --> 00:21:46,680 Speaker 1: these levels when it comes to traditional diversified portfolios. Karen, 398 00:21:46,760 --> 00:21:50,320 Speaker 1: January hid investors pretty hard. Let's get more Live from Bloomberg. 399 00:21:50,400 --> 00:21:53,240 Speaker 1: Jounida Young, Good morning, Grenita, Good morning Nathan. The sixty 400 00:21:53,359 --> 00:21:56,960 Speaker 1: forty portfolio suffered its worst monthly low since the start 401 00:21:56,960 --> 00:22:01,320 Speaker 1: of the pandemic. The Bloomberg Index, the split between equities 402 00:22:01,320 --> 00:22:05,640 Speaker 1: and bonds, dropped four point two percent in January. Equity 403 00:22:05,680 --> 00:22:08,719 Speaker 1: and bond prices both saw sharp declines last month as 404 00:22:08,760 --> 00:22:12,320 Speaker 1: markets priced in faster rate hikes from the Fit and Now. 405 00:22:12,359 --> 00:22:15,280 Speaker 1: It's all about how far the Fit Titans policy and 406 00:22:15,320 --> 00:22:19,320 Speaker 1: how much inflation growth and corporate earnings slow as a result. 407 00:22:19,920 --> 00:22:23,199 Speaker 1: Live in New York. I'm Granita Young, Bloomberg daybreak. All right, Granita, 408 00:22:23,280 --> 00:22:26,040 Speaker 1: thank you. Allow the earnings front. Alphabet, GM and Excen 409 00:22:26,119 --> 00:22:28,359 Speaker 1: Mobile are among two dozen companies in the S and 410 00:22:28,400 --> 00:22:32,000 Speaker 1: P five reporting today, and you're upstairs at Ubs are 411 00:22:32,080 --> 00:22:34,879 Speaker 1: up six percent. The Swiss Bank boosted its stock buyback 412 00:22:34,960 --> 00:22:39,360 Speaker 1: program after reporting earnings that top estimates across the pond. Today, Karen, 413 00:22:39,400 --> 00:22:42,560 Speaker 1: it's all about politics. UK Prime Minister Boris Johnson is 414 00:22:42,600 --> 00:22:45,520 Speaker 1: again under fire from members of his own conservative Party 415 00:22:45,760 --> 00:22:49,119 Speaker 1: are reporting to partying at Downing Street during lockdowns is 416 00:22:49,160 --> 00:22:51,520 Speaker 1: taking aim at failures of leadership at the top of 417 00:22:51,640 --> 00:22:54,760 Speaker 1: Johnson's government. And in corporate news, Nathan the New York 418 00:22:54,800 --> 00:22:58,200 Speaker 1: Times is buying Wordal. Wordal is a word guessing game 419 00:22:58,320 --> 00:23:00,960 Speaker 1: that has had a New York ry is online. The 420 00:23:01,080 --> 00:23:03,200 Speaker 1: game has millions of daily users, and it's part of 421 00:23:03,240 --> 00:23:07,359 Speaker 1: the New York Times plan to increase digital subscriptions. Futures 422 00:23:07,359 --> 00:23:10,720 Speaker 1: this morning again moving lower. SNP futures are down ten 423 00:23:10,800 --> 00:23:14,320 Speaker 1: points down, futures down sixty two and NASDAG futures down five. 424 00:23:14,640 --> 00:23:17,240 Speaker 1: Ten year treasury up six thirties seconds, held one point 425 00:23:17,280 --> 00:23:20,359 Speaker 1: seven five percent yield on the two year one point 426 00:23:20,400 --> 00:23:23,400 Speaker 1: one five percent. Nine x Scrude oil is down about 427 00:23:23,400 --> 00:23:25,479 Speaker 1: three quarters of a percent, or sixty six cents at 428 00:23:25,480 --> 00:23:28,639 Speaker 1: eighty seven dollars forty nine cents a barrel, and straight 429 00:23:28,640 --> 00:23:31,960 Speaker 1: ahead your latest local headlines plus a check of sports 430 00:23:32,359 --> 00:23:39,600 Speaker 1: and this is Bloomberg. Thanks Karen. It's five thirty three 431 00:23:39,600 --> 00:23:42,000 Speaker 1: on Wall Street where twenty three degrees in Central Park 432 00:23:42,000 --> 00:23:44,520 Speaker 1: and still dealing with that tractor trailer crashing on westbound 433 00:23:44,520 --> 00:23:47,520 Speaker 1: Gowanus at Hamilton Avenue. Michael Barr has more on what's 434 00:23:47,560 --> 00:23:49,520 Speaker 1: going on in New York and around the world. Michael, 435 00:23:49,640 --> 00:23:52,600 Speaker 1: thank you very much, Nathan. New York's mask mandate will 436 00:23:52,600 --> 00:23:55,679 Speaker 1: remain in effect while the state appeals ruling from a 437 00:23:55,680 --> 00:23:59,400 Speaker 1: lower court judge overturning it. The decision from an appellate 438 00:23:59,440 --> 00:24:03,240 Speaker 1: panel judges follows an appeals court judges decision last week 439 00:24:03,520 --> 00:24:07,280 Speaker 1: temporarily restoring it the day after the initial ruling overturning it. 440 00:24:07,800 --> 00:24:11,760 Speaker 1: The state's Health commissioner had reinstated the mask mandate in December, 441 00:24:12,119 --> 00:24:15,480 Speaker 1: but it has now been extended to February tenth. New 442 00:24:15,560 --> 00:24:19,080 Speaker 1: York City Mayor Eric Adams announced three veteran environmental policy 443 00:24:19,119 --> 00:24:21,800 Speaker 1: makers to lead climate policy for the city and focus 444 00:24:21,840 --> 00:24:25,479 Speaker 1: on what he called climate justice. There's also a challenge 445 00:24:25,520 --> 00:24:31,320 Speaker 1: that people ignore. We ignore as we built out our 446 00:24:31,359 --> 00:24:34,879 Speaker 1: economy and built out new jobs, we are leave in 447 00:24:35,080 --> 00:24:38,560 Speaker 1: too many New york Is behind. Adams pointed to the 448 00:24:38,640 --> 00:24:42,440 Speaker 1: need to address recent extreme weather events and rising sea levels. 449 00:24:43,080 --> 00:24:46,679 Speaker 1: Russian President, Russian Foreign Minister Sergei lav Roth, and U 450 00:24:46,720 --> 00:24:49,520 Speaker 1: S Secretary of State Anthony B. Lincoln will speak by 451 00:24:49,600 --> 00:24:54,000 Speaker 1: phone today as diplomatic efforts continue to produce tensions over Ukraine. 452 00:24:54,480 --> 00:24:58,280 Speaker 1: U s Ambassador Linda Thomas Greenfield says that Russia's growing 453 00:24:58,320 --> 00:25:02,639 Speaker 1: military force more than a hundred thousand troops along Ukraine's borders, 454 00:25:02,880 --> 00:25:06,960 Speaker 1: was the largest mobilization in European decades. President Biden Today, 455 00:25:07,080 --> 00:25:10,040 Speaker 1: in the United Nations, We've laid out for full nature 456 00:25:10,760 --> 00:25:15,120 Speaker 1: of Russia's threat to Ukraine's sovereignty and the territorial integrity 457 00:25:15,160 --> 00:25:18,240 Speaker 1: of Ukraine, as well as the core tenants of a 458 00:25:18,359 --> 00:25:22,920 Speaker 1: rural based international order, President Biden. Michael Avanette has waived 459 00:25:23,040 --> 00:25:25,720 Speaker 1: on whether he has wavered on whether he plans to 460 00:25:25,760 --> 00:25:27,720 Speaker 1: take with the stand at his own defense at a 461 00:25:27,760 --> 00:25:30,560 Speaker 1: fraud trial in which he is accused of stealing three 462 00:25:30,600 --> 00:25:34,880 Speaker 1: hundred thousand dollars in book proceeds from porn actor Stormy Daniels. 463 00:25:34,880 --> 00:25:38,400 Speaker 1: Savanati is acting as his own attorney. I am completely 464 00:25:38,400 --> 00:25:41,120 Speaker 1: innocenity charges that I hope the journy sees it that way. 465 00:25:41,240 --> 00:25:44,280 Speaker 1: The government arrested its case against Savanati in federal court 466 00:25:44,320 --> 00:25:46,920 Speaker 1: in Manhattan. He is expected to put on the bulk 467 00:25:46,960 --> 00:25:50,240 Speaker 1: of his defense case today. Global News twenty four hours 468 00:25:50,240 --> 00:25:52,960 Speaker 1: a day on air and on Bloomberg quick Take, powered 469 00:25:53,000 --> 00:25:55,639 Speaker 1: by more than twenty seven under journalists and analysts are 470 00:25:55,640 --> 00:25:58,240 Speaker 1: more than a hundred twenty countries. Michael Barr and this 471 00:25:58,400 --> 00:26:05,880 Speaker 1: is Bloomberg, Nathan. Thanks Michael by thirty five on Wall 472 00:26:05,920 --> 00:26:08,520 Speaker 1: Street Temp for the Bloomberg Sports Update with John stash Ower. 473 00:26:08,600 --> 00:26:11,280 Speaker 1: Thanks Nathan are rare easy win for the Knicks not surprising, 474 00:26:11,320 --> 00:26:14,480 Speaker 1: Sacramento has lost seven row. Knicks outscored the Kings in 475 00:26:14,560 --> 00:26:17,240 Speaker 1: all four quarters. One at the Garden won sixteen nine 476 00:26:17,480 --> 00:26:19,960 Speaker 1: six alec first twenty one points. Nicks host a much 477 00:26:20,000 --> 00:26:23,000 Speaker 1: better team Memphis tomorrow, then go back on the road 478 00:26:23,040 --> 00:26:25,560 Speaker 1: for five streat games. Devils lost their fifth in a row, 479 00:26:25,880 --> 00:26:28,879 Speaker 1: six four in Toronto to Hattrick for Austin Matthews as 480 00:26:28,920 --> 00:26:30,760 Speaker 1: the least came from four tun down to the third period. 481 00:26:30,840 --> 00:26:33,760 Speaker 1: Rangers home tonight for the Florida Panthers and St. John's 482 00:26:33,800 --> 00:26:35,760 Speaker 1: Tonight hosts Providence, who was in first place in the 483 00:26:35,760 --> 00:26:38,240 Speaker 1: Big East. Tom Brady said he was enjoying a quiet 484 00:26:38,280 --> 00:26:41,119 Speaker 1: weekend until the ESPN report on Saturday that he had 485 00:26:41,160 --> 00:26:44,240 Speaker 1: decided to retire. It was shot down by his age 486 00:26:44,280 --> 00:26:46,439 Speaker 1: and his father and the Tampa Bay Bucks, and then 487 00:26:46,640 --> 00:26:49,680 Speaker 1: last night by Brady himself on his podcast. I think 488 00:26:49,720 --> 00:26:51,920 Speaker 1: I just saw him to take it, you know, day 489 00:26:51,960 --> 00:26:53,840 Speaker 1: by day, and really if I'll take it by the 490 00:26:53,880 --> 00:26:56,800 Speaker 1: moments an integral plin. You know, I feel really confident 491 00:26:57,040 --> 00:27:01,119 Speaker 1: to allow people to you know, understand my decision and 492 00:27:01,240 --> 00:27:04,040 Speaker 1: texts a lot of people's lives. So when that decision 493 00:27:04,040 --> 00:27:06,640 Speaker 1: comes at our conversations, you're still trying to evaluate. Thanks. 494 00:27:06,680 --> 00:27:09,359 Speaker 1: Forty six year old Brian Dave all introduced as the 495 00:27:09,480 --> 00:27:11,840 Speaker 1: twentie head coach of the Giant. Let the dream come true? 496 00:27:11,880 --> 00:27:13,720 Speaker 1: And you're talking about the New York Giants, and I 497 00:27:13,840 --> 00:27:16,879 Speaker 1: understand the challenges with that, and um, it's just a 498 00:27:16,880 --> 00:27:19,159 Speaker 1: great opportunity that was afforded to me and my family. 499 00:27:19,600 --> 00:27:22,800 Speaker 1: We look forward to it. Now we've been working here 500 00:27:22,840 --> 00:27:24,239 Speaker 1: for two days. We've got we've got a long way 501 00:27:24,280 --> 00:27:29,520 Speaker 1: to go here, but uh, just a historic franchise and uh, 502 00:27:29,560 --> 00:27:30,920 Speaker 1: I look forward to being part of it. And there's 503 00:27:30,920 --> 00:27:33,080 Speaker 1: nothing else is pretty clear yesterday day Bill a little 504 00:27:33,119 --> 00:27:37,119 Speaker 1: more affable and media friendly than his three most recent predecessors, 505 00:27:37,160 --> 00:27:39,919 Speaker 1: all of whom were fired during or after their second 506 00:27:39,920 --> 00:27:42,880 Speaker 1: season with job. John Say actually were Bloomberg Sports nath 507 00:27:43,200 --> 00:27:45,639 Speaker 1: All Right, John, Thanks, It's five thirty seven on Wall Street, 508 00:27:45,680 --> 00:27:48,840 Speaker 1: time for the Tri State Business Report. Here's Bloomberg's head Corey. 509 00:27:49,080 --> 00:27:52,560 Speaker 1: Manhattan's retail rents have fallen by the most in five years, 510 00:27:52,920 --> 00:27:56,399 Speaker 1: with the biggest decline in Times Square. Average asking rents 511 00:27:56,440 --> 00:27:59,160 Speaker 1: slid by around fourteen percent in the fourth quarter from 512 00:27:59,160 --> 00:28:02,840 Speaker 1: a year earlier. Across the boroughs prime shopping districts. According 513 00:28:02,880 --> 00:28:07,200 Speaker 1: to Jones Lang LaSalle, times square rents tumbled thirty seven percent. 514 00:28:07,640 --> 00:28:10,800 Speaker 1: An Iceland at low Cost airline is launching ticket sales 515 00:28:10,800 --> 00:28:14,320 Speaker 1: for flights to New York. Plays first flight there will 516 00:28:14,359 --> 00:28:17,640 Speaker 1: be June nine. Play will fly to New York Stewart International, 517 00:28:17,960 --> 00:28:21,120 Speaker 1: making it the only airline to operate international flights from 518 00:28:21,119 --> 00:28:24,879 Speaker 1: that airport. Online betting companies are pushing promotional credits as 519 00:28:24,920 --> 00:28:28,240 Speaker 1: big as a thousand bucks, reeling in first time betterers. 520 00:28:28,600 --> 00:28:31,240 Speaker 1: More than one point one million accounts were created in 521 00:28:31,320 --> 00:28:34,640 Speaker 1: New York in the first two weeks of legalization, according 522 00:28:34,680 --> 00:28:38,840 Speaker 1: to GEO comply solutions of the players are new to 523 00:28:38,960 --> 00:28:43,560 Speaker 1: regulated digital sports betting. At Bloomberg. Try State Business Report. 524 00:28:43,760 --> 00:28:46,680 Speaker 1: I'm in Corey. Thanks that It's eight on Wall Street. 525 00:28:46,680 --> 00:28:49,120 Speaker 1: Bloomberg Radio is on the air from San Francisco to 526 00:28:49,160 --> 00:28:51,520 Speaker 1: New York, London to Hong Kong. Let's check in with 527 00:28:51,560 --> 00:28:53,680 Speaker 1: our global news team for some of the top stories 528 00:28:53,720 --> 00:28:56,959 Speaker 1: heard on our three hundred affiliate radio stations around the world. 529 00:29:00,160 --> 00:29:03,120 Speaker 1: Steve potoscan on ten ten Wins in New York, We're 530 00:29:03,160 --> 00:29:06,560 Speaker 1: talking about the New York Times buying popular daily word 531 00:29:06,600 --> 00:29:10,920 Speaker 1: game word um Pernitahoe. On khr H in Houston, Lowe's 532 00:29:11,000 --> 00:29:14,840 Speaker 1: looks to entice contractors with an expanded loyalty program. I'm 533 00:29:14,920 --> 00:29:18,160 Speaker 1: Caroline had called Bloomberg dab dishoadium in London. Movieport com 534 00:29:18,200 --> 00:29:21,240 Speaker 1: boys Johnson and whether he can overcome the damning initial 535 00:29:21,320 --> 00:29:25,120 Speaker 1: findings on parties held at Downing Street in lockdown climate. 536 00:29:25,320 --> 00:29:28,680 Speaker 1: Corey w w J in De Troy Time reporting General 537 00:29:28,800 --> 00:29:31,920 Speaker 1: Motors reports earnings today after a rough fourth quarter of 538 00:29:32,120 --> 00:29:34,800 Speaker 1: zeal And. Those are some of the stories our twenty 539 00:29:34,880 --> 00:29:37,480 Speaker 1: seven hundred Bloomberg journalists and analysts are working on this 540 00:29:37,640 --> 00:29:40,760 Speaker 1: morning around the world. It's five thirty nine on Wall Street. 541 00:29:41,000 --> 00:29:45,360 Speaker 1: The following is an editorial from Bloomberg Opinion. This editorial 542 00:29:45,720 --> 00:29:50,040 Speaker 1: was written by the Bloomberg Editorial Board. North Korean leader 543 00:29:50,120 --> 00:29:53,080 Speaker 1: Kim Jong un has ushered in twenty two with a 544 00:29:53,200 --> 00:29:58,120 Speaker 1: barrage of missile launches eleven so far, the country, who 545 00:29:58,120 --> 00:30:01,880 Speaker 1: has also threatened to restart s of long range missiles 546 00:30:02,160 --> 00:30:05,920 Speaker 1: that could reach the United States. It's understandable that the 547 00:30:06,040 --> 00:30:09,360 Speaker 1: US President, Joe Biden would want to downplay this issue, 548 00:30:09,680 --> 00:30:14,000 Speaker 1: which bedeviled his predecessors and shows little promise of resolution, 549 00:30:14,440 --> 00:30:17,640 Speaker 1: But ignoring the North Korean leader only gives him more 550 00:30:17,760 --> 00:30:20,800 Speaker 1: time to improve his arsenal. The White House should be 551 00:30:20,880 --> 00:30:25,000 Speaker 1: laying the groundwork now for a re energized approach, working 552 00:30:25,080 --> 00:30:29,080 Speaker 1: closely with allies in South Korea and Japan. With his 553 00:30:29,240 --> 00:30:33,120 Speaker 1: missile tests, Kim is seeking to strengthen his leverage. The 554 00:30:33,280 --> 00:30:37,680 Speaker 1: US should do no less. This editorial was written by 555 00:30:37,760 --> 00:30:41,840 Speaker 1: the Bloomberg Editorial Board. For more Bloomberg opinion, please go 556 00:30:42,080 --> 00:30:45,720 Speaker 1: to Bloomberg dot com, slash Opinion or O P I 557 00:30:45,960 --> 00:30:50,200 Speaker 1: N go on the Bloomberg terminal. This has been Bloomberg opinion, 558 00:30:50,480 --> 00:30:53,400 Speaker 1: and you can hear Bloomberg opinion editorials every weekday at 559 00:30:53,440 --> 00:30:56,080 Speaker 1: this time at terminal. Customers can read more at O 560 00:30:56,320 --> 00:30:58,600 Speaker 1: P I N go. Seeing a little bit of a 561 00:30:58,640 --> 00:31:01,040 Speaker 1: shift in the market now, SMP futures are still down 562 00:31:01,080 --> 00:31:03,760 Speaker 1: by six points down futures down thirty nine, but NASTACK 563 00:31:03,800 --> 00:31:05,920 Speaker 1: futures have turned to touch higher. Right now, they're up 564 00:31:05,960 --> 00:31:09,719 Speaker 1: about five points. Say your treasury is up six thirty seconds. 565 00:31:09,800 --> 00:31:12,240 Speaker 1: They yield one point seven five and the yield on 566 00:31:12,280 --> 00:31:15,080 Speaker 1: the two year right now one point one six percent. 567 00:31:15,480 --> 00:31:23,760 Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather. 568 00:31:23,840 --> 00:31:26,440 Speaker 1: Increasing cloudiness today with a high your thirty five degrees 569 00:31:26,520 --> 00:31:29,800 Speaker 1: clouds Tomorrow low forties will have afternoon rain and a 570 00:31:29,880 --> 00:31:33,440 Speaker 1: high near fifty on Thursday. Right now four degrees in 571 00:31:33,520 --> 00:31:40,320 Speaker 1: Central Park. Markets, headlines and breaking news twenty four hours 572 00:31:40,360 --> 00:31:43,320 Speaker 1: a day at Bloomberg dot Com, the Bloomberg Business Out 573 00:31:43,400 --> 00:31:47,200 Speaker 1: and at Bloomberg Quick Tape. He's a Bloomberg Business Flash 574 00:31:53,160 --> 00:31:56,160 Speaker 1: and I'm Karen Moscow. Global stocks rallying while US dot 575 00:31:56,240 --> 00:31:58,840 Speaker 1: index futures are moving lower this morning. We check the 576 00:31:58,880 --> 00:32:01,880 Speaker 1: markets every fifteen than throughout the trading day. On Bloomberg 577 00:32:02,040 --> 00:32:05,080 Speaker 1: SMP future is down eleven points. DAL Future is down 578 00:32:05,120 --> 00:32:08,920 Speaker 1: sixty eight. NASDAG features down seventeen. The decks in Germany's 579 00:32:08,960 --> 00:32:12,160 Speaker 1: up about one percent. Ten year treasury up five thirty seconds, 580 00:32:12,200 --> 00:32:14,520 Speaker 1: held one point seven five percent. They yield on the 581 00:32:14,600 --> 00:32:17,680 Speaker 1: two year one point one six percent. Nine max screwed 582 00:32:17,680 --> 00:32:19,960 Speaker 1: oils down four tenths per cent or thirty five cents 583 00:32:20,000 --> 00:32:22,680 Speaker 1: at eighty seven dollars eighty cents of barrel call MAXs 584 00:32:22,680 --> 00:32:25,080 Speaker 1: Gold up seven tenths per cent or eleven dollar sixty 585 00:32:25,200 --> 00:32:28,240 Speaker 1: cents at eighteen o eight. Announced the Euro one point 586 00:32:28,320 --> 00:32:30,640 Speaker 1: one to five eight against the dollar, British pound one 587 00:32:30,640 --> 00:32:33,000 Speaker 1: point three four and nine nine, The ends at one 588 00:32:33,080 --> 00:32:36,840 Speaker 1: fourteen point six nine, and Bitcoin this morning is at 589 00:32:36,880 --> 00:32:40,160 Speaker 1: thirty eight thousand, two hundred ninety dollars. As a Bloomberg 590 00:32:40,200 --> 00:32:42,600 Speaker 1: business flash, now here's Michael bar with Moore on what's 591 00:32:42,640 --> 00:32:45,600 Speaker 1: going on around the world. Muggle, Karen, thank you very much. 592 00:32:45,720 --> 00:32:49,440 Speaker 1: Russia said it has yet to responds written proposals delivered 593 00:32:49,520 --> 00:32:53,200 Speaker 1: last week by the US and NATO, as Western countries 594 00:32:53,240 --> 00:32:57,080 Speaker 1: continue their diplomatic press to deterve Moscow from attacking Ukraine. 595 00:32:57,600 --> 00:33:02,440 Speaker 1: President Vladimir Putin meets today Hungarian leader Victor Oban, while 596 00:33:02,480 --> 00:33:05,240 Speaker 1: the U s Secretary of State Anthony Lincoln will speak 597 00:33:05,320 --> 00:33:09,000 Speaker 1: by phone with Russian Foreign Minister Sergei Lavrov. The chief 598 00:33:09,080 --> 00:33:12,960 Speaker 1: medical examiner who ruled George Floyd's death a homicide will 599 00:33:13,000 --> 00:33:16,600 Speaker 1: return to the standarday at the trial three former Minneapolis 600 00:33:16,640 --> 00:33:21,160 Speaker 1: police officers charge with violating Floyd's civil rights in the NBA, 601 00:33:21,360 --> 00:33:24,080 Speaker 1: The Knicks, Celtics and Warriors One in the NHL, The 602 00:33:24,160 --> 00:33:27,280 Speaker 1: Devil's Lost. Global News twenty four hours a day on 603 00:33:27,440 --> 00:33:30,400 Speaker 1: air and on Bloomberg Quick Take, powered by more than 604 00:33:30,480 --> 00:33:33,880 Speaker 1: twenty seven journalist and analysts more than a hundred twenty countries. 605 00:33:34,320 --> 00:33:37,720 Speaker 1: Michael Barr, this is Bloomberg all right, Michael, thanks for 606 00:33:37,800 --> 00:33:39,840 Speaker 1: coming up to five forty nine on Wall Street Line 607 00:33:39,840 --> 00:33:43,080 Speaker 1: from the Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak 608 00:33:43,080 --> 00:33:45,080 Speaker 1: and we want to get to the latest on the pandemic. Now. 609 00:33:45,200 --> 00:33:47,520 Speaker 1: For that, we're joined by Dr Stewart Ray, vice Chair 610 00:33:47,560 --> 00:33:50,520 Speaker 1: of Medicine at the Johns Hopkins University School of Medicine. 611 00:33:50,800 --> 00:33:52,400 Speaker 1: Dr Ray, it's good to have you back with us 612 00:33:52,520 --> 00:33:54,320 Speaker 1: this morning on a morning where we're seeing a lot 613 00:33:54,400 --> 00:33:57,640 Speaker 1: more developments when it comes to authorization of vaccines. We 614 00:33:57,760 --> 00:34:01,800 Speaker 1: got the full FDA approval or Modernists Shot yesterday, and 615 00:34:01,840 --> 00:34:05,040 Speaker 1: now there are reports that FDA regulators are urging Fiser 616 00:34:05,120 --> 00:34:09,280 Speaker 1: to apply for approval of its shot for kids under five. 617 00:34:10,000 --> 00:34:13,160 Speaker 1: How close are we to getting that approval and what 618 00:34:13,320 --> 00:34:17,879 Speaker 1: difference would it make for this pandemic well, I think 619 00:34:17,960 --> 00:34:20,520 Speaker 1: in the next phase of this pandemic, we need to 620 00:34:20,560 --> 00:34:23,640 Speaker 1: be thinking about how we have a long term strategy, 621 00:34:23,719 --> 00:34:26,080 Speaker 1: and it's really got to be to protect people from 622 00:34:26,719 --> 00:34:32,120 Speaker 1: complications UH at all ages, and so vaccinating kids is 623 00:34:32,120 --> 00:34:36,600 Speaker 1: an important part of that strategy. What further steps in 624 00:34:36,680 --> 00:34:40,160 Speaker 1: that strategy you're looking at, Well, I think that we 625 00:34:40,320 --> 00:34:44,120 Speaker 1: you know, we need greater access to medications to mitigate 626 00:34:44,480 --> 00:34:47,320 Speaker 1: the harms of covid infections. Are the people who develop 627 00:34:47,360 --> 00:34:50,880 Speaker 1: spear infection UH. It's very clear that even with omicron, 628 00:34:51,680 --> 00:34:54,759 Speaker 1: vaccination or some form of strong immunity is necessary to 629 00:34:54,960 --> 00:34:58,279 Speaker 1: protect against UH disease, and so we need to make 630 00:34:58,320 --> 00:35:00,920 Speaker 1: sure that as many people are sector as possible. The 631 00:35:01,000 --> 00:35:04,520 Speaker 1: current rate of death is devastating, and even if we 632 00:35:04,640 --> 00:35:07,040 Speaker 1: get toward an endemic state where we have a stable 633 00:35:07,200 --> 00:35:12,040 Speaker 1: rate of UH coronavirus, the problem is if that rate 634 00:35:12,160 --> 00:35:16,919 Speaker 1: is high, then that may not be acceptable endemic state 635 00:35:16,960 --> 00:35:19,160 Speaker 1: and we're going to need to find ways to mitigate harms. 636 00:35:19,200 --> 00:35:21,560 Speaker 1: And we do have the tools, but we need a 637 00:35:21,600 --> 00:35:25,279 Speaker 1: concerted effort to use them, things like masks and vaccination 638 00:35:25,400 --> 00:35:28,920 Speaker 1: and UH, that's still not where we are. When do 639 00:35:29,000 --> 00:35:31,759 Speaker 1: you think we'll get there? And are we still at 640 00:35:31,800 --> 00:35:36,200 Speaker 1: a point where we could see the health system overwhelmed 641 00:35:36,360 --> 00:35:41,719 Speaker 1: by coronavirus even with the level of vaccination that we're at. Yeah, 642 00:35:41,719 --> 00:35:45,400 Speaker 1: I think that the vaccination we're at was achieved too 643 00:35:45,440 --> 00:35:49,400 Speaker 1: many months ago. And until we have vaccines that provide 644 00:35:49,440 --> 00:35:52,799 Speaker 1: us really sustained immunity to the current variant, we're gonna 645 00:35:52,840 --> 00:35:55,719 Speaker 1: need to keep on innovating. So we are going to 646 00:35:55,840 --> 00:35:59,400 Speaker 1: be uh catching up because we really didn't do a 647 00:35:59,480 --> 00:36:01,799 Speaker 1: great job of of getting there in the first place. 648 00:36:01,880 --> 00:36:05,280 Speaker 1: We had too much division about vaccination and other tools, 649 00:36:05,840 --> 00:36:09,000 Speaker 1: and we're too slow to to get prepared, and so 650 00:36:09,160 --> 00:36:11,160 Speaker 1: now we're playing catch up, and and that's going to 651 00:36:11,239 --> 00:36:13,279 Speaker 1: take some time to to really get to a point 652 00:36:13,360 --> 00:36:17,680 Speaker 1: where we are robust against the disruption. So things look 653 00:36:17,719 --> 00:36:21,640 Speaker 1: good now. The rates in many states are dropping as 654 00:36:22,120 --> 00:36:25,680 Speaker 1: O Macron's wave abates, but there's a very good chance 655 00:36:25,760 --> 00:36:29,560 Speaker 1: we'll be getting pie for dessert. I want to ask 656 00:36:29,640 --> 00:36:33,160 Speaker 1: you about this new O Macron variant that's starting to 657 00:36:33,200 --> 00:36:36,440 Speaker 1: get more attention, be A too. What do we know 658 00:36:36,560 --> 00:36:41,239 Speaker 1: about it? Well. B two is is a cousin of 659 00:36:41,800 --> 00:36:44,160 Speaker 1: the omicron variant B A one that we're so familiar with. 660 00:36:44,840 --> 00:36:48,240 Speaker 1: It was found around the same time in Southern Africa 661 00:36:48,840 --> 00:36:53,359 Speaker 1: where the scientists there discovered the omicron variant, and it's 662 00:36:53,360 --> 00:36:57,200 Speaker 1: circulated in Philippines and some other countries India, and then 663 00:36:57,680 --> 00:37:00,719 Speaker 1: UH sort of blasted through Denmark, was in in the 664 00:37:00,880 --> 00:37:04,920 Speaker 1: UK and here and UH. It does have a lot 665 00:37:05,000 --> 00:37:06,759 Speaker 1: of features that are different from the B A one 666 00:37:06,800 --> 00:37:10,080 Speaker 1: brant that we've seen. UH. It appears to be more infectious, 667 00:37:10,400 --> 00:37:14,800 Speaker 1: and because it has different features, it poses some additional 668 00:37:14,920 --> 00:37:18,680 Speaker 1: challenges for the immune system. Fortunately, it's likely that O 669 00:37:18,800 --> 00:37:24,320 Speaker 1: macron UH immunity, once people have been infected with that 670 00:37:25,040 --> 00:37:28,759 Speaker 1: will provide some immunity to be A two as well. 671 00:37:29,600 --> 00:37:31,759 Speaker 1: That seems to be greater if someone's head a more 672 00:37:31,800 --> 00:37:34,879 Speaker 1: severe infection. Mild infections don't seem to provide so much 673 00:37:35,560 --> 00:37:40,440 Speaker 1: convalescent immunity. And so we may be seeing signs that 674 00:37:40,600 --> 00:37:43,200 Speaker 1: we're not done with this yet and that more variants 675 00:37:43,560 --> 00:37:45,400 Speaker 1: are likely to be on the way. That's just the 676 00:37:45,560 --> 00:37:48,399 Speaker 1: nature of letting lots of people get infected. The virus 677 00:37:48,440 --> 00:37:52,080 Speaker 1: will continue to evolve all right. Well. As always, Dr Ray, 678 00:37:52,160 --> 00:37:54,640 Speaker 1: thank you for your insights. Dr Stewart Ray is Vice 679 00:37:54,760 --> 00:37:57,520 Speaker 1: Chair of Medicine at the Johns Hopkins School of Medicine, 680 00:37:57,640 --> 00:38:01,080 Speaker 1: Karen Nathan. It is dates Ri on Wall Street. Time 681 00:38:01,120 --> 00:38:05,280 Speaker 1: for the Bloomberg Law report. Ronty you buy American Arbitration Association. 682 00:38:05,400 --> 00:38:09,879 Speaker 1: Business disputes are inevitable. Resolve faster with the American Arbitration Association, 683 00:38:09,960 --> 00:38:13,360 Speaker 1: the global leader in alternative dispute resolution for over ninety years. 684 00:38:13,719 --> 00:38:15,759 Speaker 1: More a d R dot Org. Let's get to the 685 00:38:15,840 --> 00:38:19,000 Speaker 1: legal stories we're watching this morning from Bloomberg's Jeff Bellinger. 686 00:38:22,440 --> 00:38:25,400 Speaker 1: Virgin Galactic space flights will not be taxed by the 687 00:38:25,480 --> 00:38:28,720 Speaker 1: state of New Mexico. State lawmakers decided that a levy 688 00:38:28,800 --> 00:38:31,880 Speaker 1: on space tourism tickets would send the wrong message about 689 00:38:31,920 --> 00:38:35,600 Speaker 1: the state's business climate. Federal Bankruptcy Judge Martin Glen will 690 00:38:35,640 --> 00:38:37,799 Speaker 1: take over as the next chief Judge of the US 691 00:38:37,880 --> 00:38:40,600 Speaker 1: Bankruptcy Court in the Southern District of New York. He 692 00:38:40,719 --> 00:38:43,920 Speaker 1: begins his five year term in March. Fast food workers 693 00:38:44,000 --> 00:38:48,000 Speaker 1: in California would get additional health, safety, and employment protections 694 00:38:48,280 --> 00:38:50,879 Speaker 1: under a bill passed by the state Assembly and set 695 00:38:51,000 --> 00:38:54,719 Speaker 1: to the Senate. Bloomberg Law Everything you need, all on 696 00:38:54,920 --> 00:38:59,600 Speaker 1: one legal research platform, including guidance analysis and Bloomberg Market 697 00:38:59,680 --> 00:39:04,600 Speaker 1: until Legends. Find out more at Bloomberg Law dot Com. Right, Jeff, 698 00:39:04,600 --> 00:39:07,960 Speaker 1: thank you. Now another legal story we're watching. California lawyer 699 00:39:08,120 --> 00:39:11,720 Speaker 1: Michael Levnati gained a national profile when he represented adult 700 00:39:11,760 --> 00:39:15,400 Speaker 1: film star Stormy Daniels in a civil lawsuit against former 701 00:39:15,480 --> 00:39:18,680 Speaker 1: President Trump. Now Avanati and Daniels are on opposite ends 702 00:39:18,719 --> 00:39:21,160 Speaker 1: of the courtroom. Daniels is accusing him of stealing three 703 00:39:21,239 --> 00:39:24,799 Speaker 1: hundred thousand dollars by intercepting advanced payments for a book deal. 704 00:39:25,200 --> 00:39:28,200 Speaker 1: Daniels is the prosecution star witness, and Evanati, who was 705 00:39:28,239 --> 00:39:31,160 Speaker 1: representing himself, got a chance to grill his former client 706 00:39:31,280 --> 00:39:34,120 Speaker 1: on cross examination. For more in the case, June Grasso 707 00:39:34,160 --> 00:39:37,440 Speaker 1: speaks to Bloomberg Lego reporter Eric Larson. So you have 708 00:39:37,640 --> 00:39:41,640 Speaker 1: Avanati cross examining his former client. It must have been 709 00:39:41,760 --> 00:39:44,640 Speaker 1: high drama in the courtroom just to see that. Yeah, 710 00:39:44,719 --> 00:39:47,320 Speaker 1: it was pretty bizarre when you think about the falling 711 00:39:47,360 --> 00:39:50,320 Speaker 1: out that these two had. I mean, Alvanati spent a 712 00:39:50,400 --> 00:39:53,240 Speaker 1: lot of time, you know, several years ago telling Americans 713 00:39:53,280 --> 00:39:55,360 Speaker 1: they needed to believe this woman that she had a 714 00:39:55,719 --> 00:39:59,520 Speaker 1: pretty falicious tale to tell about Donald Trump, and they 715 00:39:59,560 --> 00:40:02,200 Speaker 1: really were trying to take the president down based on 716 00:40:02,360 --> 00:40:05,600 Speaker 1: her word and now he's here telling this jury that 717 00:40:05,680 --> 00:40:08,680 Speaker 1: she's a liar and can't be trusted. So he used 718 00:40:08,719 --> 00:40:11,960 Speaker 1: his cross examination to try to pull out various times 719 00:40:12,040 --> 00:40:15,359 Speaker 1: that he thinks showed that she had been untruthful about 720 00:40:15,440 --> 00:40:19,120 Speaker 1: various things, and also questioned her about various times that 721 00:40:19,200 --> 00:40:22,560 Speaker 1: she had accused other people of stealing from her. I 722 00:40:22,640 --> 00:40:24,640 Speaker 1: think he was trying to sort of suggest that she 723 00:40:24,840 --> 00:40:28,319 Speaker 1: was paranoid and accuse people of stass frequently that sort 724 00:40:28,360 --> 00:40:31,760 Speaker 1: of thing. But it really was bizarre questioning because Jomy 725 00:40:31,880 --> 00:40:35,680 Speaker 1: Daniels is that pretty interesting character. She is working on 726 00:40:35,800 --> 00:40:40,040 Speaker 1: a TV show about the paranormal paranormal activities, so she's 727 00:40:40,160 --> 00:40:43,239 Speaker 1: on record telling her viewers and fans and things like 728 00:40:43,360 --> 00:40:46,279 Speaker 1: this that she can see ghosts, that she can see 729 00:40:46,560 --> 00:40:50,440 Speaker 1: into people's houses basically through their walls, that she is 730 00:40:50,480 --> 00:40:55,120 Speaker 1: even in communication with a hunted doll. So he was 731 00:40:55,320 --> 00:40:57,880 Speaker 1: trying to obviously make her look a little bit bonkers 732 00:40:58,440 --> 00:41:01,360 Speaker 1: and wanted a jury to see that she can essentially 733 00:41:01,440 --> 00:41:03,000 Speaker 1: make things up a lot, I think is what he 734 00:41:03,080 --> 00:41:05,520 Speaker 1: was trying to suggest. And this is not the only 735 00:41:05,600 --> 00:41:09,200 Speaker 1: criminal case Avanati has to worry about. There are two 736 00:41:09,280 --> 00:41:15,520 Speaker 1: other cases he's been convicted in. Another criminal case suffered 737 00:41:15,560 --> 00:41:19,120 Speaker 1: from this. Of course, he was convicted of trying to 738 00:41:19,239 --> 00:41:22,720 Speaker 1: extort Nike out of twenty five million dollars on behalf 739 00:41:22,760 --> 00:41:25,719 Speaker 1: of another client during settlement talks. He was sentenced to 740 00:41:25,760 --> 00:41:27,359 Speaker 1: two and a half years for that, and he hasn't 741 00:41:27,360 --> 00:41:29,920 Speaker 1: even started serving that prison term. Then there was a 742 00:41:30,080 --> 00:41:33,680 Speaker 1: third criminal case in California where he was accused of 743 00:41:33,800 --> 00:41:36,480 Speaker 1: ripping off other law firm clients of his, and that 744 00:41:37,000 --> 00:41:40,160 Speaker 1: ended in a mistrial, although they're going to retry that. 745 00:41:40,840 --> 00:41:42,960 Speaker 1: So then is he out on bail while he's here 746 00:41:43,000 --> 00:41:47,000 Speaker 1: in New York. Right, He's been basically under home confinement 747 00:41:47,480 --> 00:41:50,520 Speaker 1: in California for quite some time, staying with a friend 748 00:41:50,560 --> 00:41:53,799 Speaker 1: in Venice, California. But because of this trial, he's now 749 00:41:54,120 --> 00:41:56,360 Speaker 1: been allowed to travel, and it is here for that. 750 00:41:56,760 --> 00:41:59,880 Speaker 1: But you know, of course, Avanati has claimed that all 751 00:42:00,120 --> 00:42:02,239 Speaker 1: three of these criminal cases, you know, they were brought 752 00:42:02,280 --> 00:42:04,640 Speaker 1: during the Trump administration, and he claims that he was 753 00:42:04,719 --> 00:42:09,080 Speaker 1: targeted by Frump's Justice Department specifically because of his lawsuit 754 00:42:09,200 --> 00:42:12,400 Speaker 1: on behalf of Stormy Daniels. And as Bloomberg Legal reporter 755 00:42:12,600 --> 00:42:15,120 Speaker 1: Eric Larson speaking with the June Grosso catch more of 756 00:42:15,200 --> 00:42:18,000 Speaker 1: that interview plus analysis of the latest legal news by 757 00:42:18,080 --> 00:42:20,960 Speaker 1: listening to the Bloomberg Law Show at ten pm Eastern 758 00:42:21,040 --> 00:42:24,320 Speaker 1: Time or subscribing to the Bloomberg Law Podcast, and attorneys 759 00:42:24,360 --> 00:42:27,279 Speaker 1: can find exceptional legal research and business development tools at 760 00:42:27,320 --> 00:42:31,200 Speaker 1: Bloomberg Law dot com. Again, futures are lower this morning, 761 00:42:31,360 --> 00:42:34,799 Speaker 1: SMP futures down thirteen points down, futures down seventy nine, 762 00:42:35,280 --> 00:42:38,280 Speaker 1: nasday futures down twenties seven, and the ten year Treasury 763 00:42:38,320 --> 00:42:40,640 Speaker 1: at four third day seconds. The yield is at one 764 00:42:40,719 --> 00:42:43,640 Speaker 1: point seven six per cent. Still ahead. On Bloomberg day Break, 765 00:42:43,680 --> 00:42:45,399 Speaker 1: a check on the business headlines and all the news 766 00:42:45,440 --> 00:42:47,800 Speaker 1: you need to start your day. This is Bloomberg