1 00:00:04,280 --> 00:00:07,400 Speaker 1: Live from the Bloomberg Interactive Burger Studios. This is Bloomberg 2 00:00:07,480 --> 00:00:11,400 Speaker 1: day Break for Thursday July two. Coming up this hour, 3 00:00:11,600 --> 00:00:15,280 Speaker 1: Mario Draggy resigns as Italian Prime Minister. We are live 4 00:00:15,320 --> 00:00:17,680 Speaker 1: in Europe with the latest the e c D gets 5 00:00:17,720 --> 00:00:20,920 Speaker 1: ready to join central banks and raising rates. Tesla shares 6 00:00:21,040 --> 00:00:24,240 Speaker 1: rise after earnings top estimates, the growing number of companies 7 00:00:24,239 --> 00:00:27,240 Speaker 1: slam the brakes on hiring, and the January sixth hearing 8 00:00:27,360 --> 00:00:30,720 Speaker 1: skill Prime Time. The Heat Advisory extended to Sunday night 9 00:00:30,880 --> 00:00:33,360 Speaker 1: at Donald Trump returns to New York for his ex 10 00:00:33,360 --> 00:00:36,360 Speaker 1: wife's funeral. I'm John Tucer. Those stories straight ahead, I'm 11 00:00:36,400 --> 00:00:39,400 Speaker 1: John Stahns forwards. The Yankees returned for the All Star break. 12 00:00:39,440 --> 00:00:41,680 Speaker 1: They play a day night double letter with the Astros 13 00:00:41,720 --> 00:00:46,920 Speaker 1: in Euston. That's all straded ahead on Bloomberg day Break 14 00:00:47,240 --> 00:00:50,920 Speaker 1: on Bloomberg eleven, Free on New York, Bloomberg ninety nine one, 15 00:00:51,040 --> 00:00:55,000 Speaker 1: Washington d C, Bloomberg one oh six one, Boston, Bloomberg 16 00:00:55,080 --> 00:00:59,160 Speaker 1: nine sixties, San Francisco, Sirius XAM one nine team, and 17 00:00:59,240 --> 00:01:02,319 Speaker 1: around the world on Bloomberg Radio dot Com and via 18 00:01:02,400 --> 00:01:12,400 Speaker 1: The Bloomberg Business and Good Morning, I'm Karen Moscow. I'm 19 00:01:12,440 --> 00:01:14,240 Speaker 1: Nathan Heger. Bloomberg day Break, brought to you by B 20 00:01:14,319 --> 00:01:16,720 Speaker 1: and Y Melon's Pershing learned by the world's most sophisticated 21 00:01:16,760 --> 00:01:19,600 Speaker 1: wealth management and institutional firms rely on Pershing to help 22 00:01:19,640 --> 00:01:23,120 Speaker 1: them improve profitability, create efficiency, attract talent and manage risk 23 00:01:23,160 --> 00:01:27,920 Speaker 1: at pershing dot com. US futures are little change this morning. 24 00:01:28,080 --> 00:01:31,640 Speaker 1: SMP futures are down about four points down, futures down 25 00:01:31,680 --> 00:01:35,000 Speaker 1: sixty six and NASDAG futures again. That will change the 26 00:01:35,080 --> 00:01:37,440 Speaker 1: ten year treasury down four thirty seconds, you know, three 27 00:01:37,440 --> 00:01:40,760 Speaker 1: point oh four percent, Nathan, Karen, we begin with turmoil 28 00:01:40,840 --> 00:01:44,280 Speaker 1: in the Italian government. Prime Minister Mario Draggy is resigning. 29 00:01:44,319 --> 00:01:46,960 Speaker 1: The former European Central Bank chief announced his decision to 30 00:01:47,000 --> 00:01:50,240 Speaker 1: President Sergio Mantarella in a meeting earlier this morning. Bloomberg 31 00:01:50,240 --> 00:01:53,080 Speaker 1: new senior editor in Italy, Gerald Colton, says the resignation 32 00:01:53,160 --> 00:01:57,120 Speaker 1: raises the prospect of snap elections. Elections are almost certainly 33 00:01:57,160 --> 00:02:00,280 Speaker 1: the next be Traditionally year in Italy, election state plate 34 00:02:00,560 --> 00:02:04,240 Speaker 1: in the spring to allow business to go on in parliament, 35 00:02:04,320 --> 00:02:08,280 Speaker 1: particularly the budget. In this case, we'll probably have something unprecedented, 36 00:02:08,320 --> 00:02:11,880 Speaker 1: will probably have elections in the fall. Either the last 37 00:02:11,880 --> 00:02:15,040 Speaker 1: weekend in September or the first in October would be 38 00:02:15,040 --> 00:02:17,720 Speaker 1: the most likely time. Bloomberg News Senior editor in Italy, 39 00:02:17,760 --> 00:02:20,840 Speaker 1: Gerald Colton, says the market reaction has been swift. The 40 00:02:20,880 --> 00:02:23,919 Speaker 1: country's benchmark stock indexes down one and a half percent. 41 00:02:24,160 --> 00:02:28,120 Speaker 1: Benchmark tenure Italian bond yields are surging well. Nathan. The 42 00:02:28,200 --> 00:02:31,880 Speaker 1: Drazzee drug resignation comes as the European Central Bank gets 43 00:02:31,919 --> 00:02:34,080 Speaker 1: ready to raise interest rates, and we go to London 44 00:02:34,080 --> 00:02:36,840 Speaker 1: and get the latest with Bloomberg's un Pats, good morning you, 45 00:02:37,000 --> 00:02:39,480 Speaker 1: and good morning Nathan and Karen. Will it be twenty 46 00:02:39,480 --> 00:02:42,320 Speaker 1: five or will it be fifty? The European Central Bank 47 00:02:42,360 --> 00:02:44,560 Speaker 1: today's set to raise indust rates for the first time 48 00:02:44,680 --> 00:02:47,800 Speaker 1: in eleven years, joining payers around the world in confronting 49 00:02:47,840 --> 00:02:51,600 Speaker 1: an historic spike in inflation. With staring prices across the 50 00:02:51,639 --> 00:02:54,320 Speaker 1: line team nation Eurozone. The ECB may even deviate from 51 00:02:54,320 --> 00:02:57,200 Speaker 1: the guidance it said by considering a hike of double 52 00:02:57,440 --> 00:03:00,519 Speaker 1: the planned quarter points. Will find out lay to today 53 00:03:00,800 --> 00:03:03,919 Speaker 1: in London. I'mumport Sploomberg day Break, thanks you, And in Asia, 54 00:03:03,960 --> 00:03:06,840 Speaker 1: the Bank of Japan left its interest rates unchanged. We 55 00:03:06,880 --> 00:03:09,760 Speaker 1: get that story from Bloomberg day Break Asia anchor Brian Curtis. 56 00:03:09,919 --> 00:03:12,440 Speaker 1: The b o J put its concern about growth ahead 57 00:03:12,480 --> 00:03:15,840 Speaker 1: of any potential implications for the end. It locks in 58 00:03:15,919 --> 00:03:18,400 Speaker 1: an outlier stance of the b o J compared with 59 00:03:18,440 --> 00:03:21,800 Speaker 1: other central banks desperately fighting inflation. A downgrade in the 60 00:03:21,840 --> 00:03:25,080 Speaker 1: growth forecast comes amid new COVID cases at home and 61 00:03:25,200 --> 00:03:28,080 Speaker 1: lockdowns in China. What the b o J is saying 62 00:03:28,240 --> 00:03:32,080 Speaker 1: is you need a solid recovery to make inflation sustainable, 63 00:03:32,240 --> 00:03:35,960 Speaker 1: and that means lower for longer. Brian Curtis Sploomberg day Break. 64 00:03:36,480 --> 00:03:38,760 Speaker 1: All right, Brian, thank you all. Turning to corporate earning, 65 00:03:38,800 --> 00:03:41,560 Speaker 1: shares a Tesla up almost three percent in early trading. 66 00:03:41,560 --> 00:03:44,640 Speaker 1: The ev market leader reported second quarter earnings at beat 67 00:03:44,680 --> 00:03:48,040 Speaker 1: Wall Street estimates. Tesla also sold a significant chunk of 68 00:03:48,040 --> 00:03:52,800 Speaker 1: its steak and bitcoin, converting roughly sevs bitcoin into fiat currency. 69 00:03:53,080 --> 00:03:55,840 Speaker 1: CEO Elon Musk talked about it in a conference call 70 00:03:55,920 --> 00:04:00,640 Speaker 1: with analysts. We are certainly open to increasing up coin 71 00:04:00,680 --> 00:04:03,720 Speaker 1: holdings in future um so they should not be taken 72 00:04:03,760 --> 00:04:09,120 Speaker 1: as some verdict on goodcoin. It's just that we were 73 00:04:09,160 --> 00:04:12,200 Speaker 1: concerned about overall liquidity for the company. Given code shutdowns 74 00:04:12,200 --> 00:04:15,640 Speaker 1: in China. Testa CEO Elon Mus said the company has 75 00:04:15,680 --> 00:04:18,200 Speaker 1: been through quote supply chain hell, but he's saying now 76 00:04:18,240 --> 00:04:20,720 Speaker 1: the optimism Tesla can achieve a record of volume over 77 00:04:20,760 --> 00:04:23,080 Speaker 1: the rest of the year. Well. Growing number of companies 78 00:04:23,080 --> 00:04:25,960 Speaker 1: are slamming the brakes on hiring. Karen and Bloomberg's Vernita 79 00:04:26,040 --> 00:04:29,760 Speaker 1: Young has more on that. Good morning, Rnita, Good morning Nathan. Microsoft, Google, 80 00:04:29,800 --> 00:04:32,400 Speaker 1: and Lift are some of the latest companies to freeze 81 00:04:32,480 --> 00:04:37,760 Speaker 1: hiring as recessent recession fears loom, inflation mounts, the war 82 00:04:37,839 --> 00:04:41,400 Speaker 1: in Ukraine continues, and the lingering pandemic takes a toll. 83 00:04:41,880 --> 00:04:45,880 Speaker 1: Microsoft is eliminating many job openings. Google's pausing hiring for 84 00:04:45,920 --> 00:04:48,839 Speaker 1: the next two weeks. Lift is shutting down a division 85 00:04:49,120 --> 00:04:53,040 Speaker 1: and trimming jobs. Meantime, Bloomberg sources say Ford is preparing 86 00:04:53,080 --> 00:04:55,520 Speaker 1: to cut as many as eight thousand jobs in the 87 00:04:55,560 --> 00:04:58,839 Speaker 1: coming weeks. The automaker is trying to boost profits to 88 00:04:58,920 --> 00:05:02,520 Speaker 1: fund its push into the electric vehicle market. Live in 89 00:05:02,560 --> 00:05:06,240 Speaker 1: New York, I'm renaed a Young Bloomberg Daybreak. All right, 90 00:05:06,279 --> 00:05:07,880 Speaker 1: we need to thank you. The news of the slowdown 91 00:05:07,880 --> 00:05:10,159 Speaker 1: in corporate high rank comes as the labor Department gets 92 00:05:10,160 --> 00:05:13,560 Speaker 1: ready to issue weekly jobless claims. Data economists or forecasting 93 00:05:13,560 --> 00:05:16,440 Speaker 1: claims will remain elevated after setting a record low earlier 94 00:05:16,480 --> 00:05:19,560 Speaker 1: in the year, and Bloomberg's Videol Judais reports in the 95 00:05:19,560 --> 00:05:23,120 Speaker 1: Prairie Report, jobless claims rose to two four thousand the 96 00:05:23,200 --> 00:05:27,320 Speaker 1: Hyacinths November. Bloomberg Economics says this year's increase may set 97 00:05:27,320 --> 00:05:30,080 Speaker 1: the stage for a broader labor market slowdown. The four 98 00:05:30,120 --> 00:05:33,240 Speaker 1: week average for jobless claims has been moving steadily higher 99 00:05:33,279 --> 00:05:36,680 Speaker 1: to also today the Conference Board issues Junes and Decks 100 00:05:36,720 --> 00:05:40,119 Speaker 1: of leading economic indicators, It's dropped in four the past 101 00:05:40,160 --> 00:05:44,360 Speaker 1: five months, signaling a slowdown. Final Judas Bloomberg, Daybreak and 102 00:05:44,520 --> 00:05:47,040 Speaker 1: Sney and Political News. President Biden says he could speak 103 00:05:47,040 --> 00:05:50,360 Speaker 1: with China's Shi Jin Ping within ten days. Bloomberg's Baxter 104 00:05:50,480 --> 00:05:53,440 Speaker 1: reports a whole plate full of issues, but this does 105 00:05:53,560 --> 00:05:55,720 Speaker 1: come as the US has said publicly it is thinking 106 00:05:55,760 --> 00:05:58,600 Speaker 1: about rolling back some of the tariffs and average to 107 00:05:58,640 --> 00:06:02,960 Speaker 1: possibly ease inflay pressures, but White House sources have downplayed 108 00:06:03,040 --> 00:06:06,640 Speaker 1: that issue now, saying that Biden wants to talk Ukraine 109 00:06:07,160 --> 00:06:10,719 Speaker 1: and China, seeming support of Russia along with human rights 110 00:06:10,839 --> 00:06:13,720 Speaker 1: issues in Hong Kong and jin Jong, as well as 111 00:06:13,800 --> 00:06:18,560 Speaker 1: relations with Taiwan in San Francisco. I'm at Baxter Bloomberg 112 00:06:18,640 --> 00:06:21,600 Speaker 1: Daybreak and thank you. The committee investigating the assault in 113 00:06:21,640 --> 00:06:24,760 Speaker 1: the US Capitol plans to proceed with the primetime hearing tonight. 114 00:06:24,839 --> 00:06:27,080 Speaker 1: We get a preview from Bloomberg j Amy Morrison our 115 00:06:27,640 --> 00:06:30,520 Speaker 1: one newsroom mid Washington. The committee is set to hold 116 00:06:30,560 --> 00:06:33,000 Speaker 1: the televised hearing at eight pm Eastern. It will be 117 00:06:33,080 --> 00:06:35,839 Speaker 1: the eighth hearing since June and the second in primetime. 118 00:06:36,080 --> 00:06:40,120 Speaker 1: Republican Adam Kinzinger and Democrat Elaine Luria will lead the hearing, 119 00:06:40,440 --> 00:06:43,680 Speaker 1: aiming to show that the former president deliberately chose not 120 00:06:43,920 --> 00:06:46,880 Speaker 1: to intervene during the attack on the Capitol. They'll walk 121 00:06:46,960 --> 00:06:49,120 Speaker 1: through what was going on in the West Wing during 122 00:06:49,200 --> 00:06:52,040 Speaker 1: and after the attack, and what happened the next day. 123 00:06:52,480 --> 00:06:56,240 Speaker 1: Videotaped testimony of former White House Council Pat Sippoloni will 124 00:06:56,279 --> 00:06:59,440 Speaker 1: play a crucial role in tonight's hearing in Washington. I 125 00:06:59,520 --> 00:07:02,160 Speaker 1: may be more has Bloomberg Daybreak, Amy, Thank you. SMP 126 00:07:02,320 --> 00:07:05,080 Speaker 1: futures are down four point Staff futures down seventy two. 127 00:07:05,160 --> 00:07:08,440 Speaker 1: Nasdaq futures are higher now by eight points. The tenure 128 00:07:08,520 --> 00:07:12,560 Speaker 1: treasury is down four thirty seconds yield three point zero 129 00:07:12,760 --> 00:07:15,840 Speaker 1: four percent. Straight ahead, your latest local headlines and a 130 00:07:15,960 --> 00:07:23,560 Speaker 1: check of sports. This is Bloomberg and at six o 131 00:07:23,680 --> 00:07:26,360 Speaker 1: seven on Wall Street where eighty degrees in Central Park 132 00:07:26,440 --> 00:07:30,200 Speaker 1: southbound two eighty seven's closed after Route seventeen for an accident. 133 00:07:30,280 --> 00:07:33,000 Speaker 1: More on that coming up in traffic. First, John Tucker 134 00:07:33,480 --> 00:07:37,280 Speaker 1: trying to stay cool in New York. It's tough, John, Well, yeah, 135 00:07:37,400 --> 00:07:40,600 Speaker 1: the heat is on, Nathan. Heat advisory remains an effect 136 00:07:40,680 --> 00:07:44,760 Speaker 1: until Sunday night. And Bloomberg meteorolog just Rob Carolin joins 137 00:07:44,840 --> 00:07:47,360 Speaker 1: us this morning with Moore. John, it's the heat that's 138 00:07:47,360 --> 00:07:49,320 Speaker 1: been in the century United States that's had a chance 139 00:07:49,400 --> 00:07:51,480 Speaker 1: to move in over the area and it will hang around, 140 00:07:51,560 --> 00:07:53,320 Speaker 1: and we have a weak funnel system headed our way 141 00:07:53,360 --> 00:07:55,720 Speaker 1: that'll trigger some showers and thud of storms this afternoon, 142 00:07:55,800 --> 00:07:57,840 Speaker 1: some of which would be strong. It leads to it 143 00:07:58,000 --> 00:08:00,280 Speaker 1: not being as humid tomorrow, but it's still hot. And 144 00:08:00,360 --> 00:08:03,400 Speaker 1: then the heat piece over the weekend where near a 145 00:08:03,480 --> 00:08:05,880 Speaker 1: hundred by the time we get the Sunday John, Bloomberg 146 00:08:05,920 --> 00:08:09,040 Speaker 1: Meteorologist Rob Caroline this morning, the operator of a major 147 00:08:09,200 --> 00:08:12,680 Speaker 1: pipeline from Russia to Europe since natural gas has started 148 00:08:12,760 --> 00:08:16,600 Speaker 1: flowing again. The pipeline is Germany's main source of runching gas. 149 00:08:17,120 --> 00:08:20,720 Speaker 1: Bloomberg Stephen Stevinski says they're now watching closely. They see 150 00:08:20,840 --> 00:08:24,400 Speaker 1: just how much gas actually comes through the pipeline. There 151 00:08:24,600 --> 00:08:26,880 Speaker 1: is a steer that yes, we're at right now, but 152 00:08:26,960 --> 00:08:28,800 Speaker 1: how long will this last? Can you trust putin ke 153 00:08:29,280 --> 00:08:32,480 Speaker 1: gas from Gage, trust Russia to keep the gas flowing 154 00:08:32,559 --> 00:08:35,320 Speaker 1: through this vital transit point. You look at what he's 155 00:08:35,360 --> 00:08:37,319 Speaker 1: been saying, and he said that it doesn't get this 156 00:08:37,480 --> 00:08:41,800 Speaker 1: vital part, then he's going to reduce flows in his 157 00:08:41,960 --> 00:08:45,079 Speaker 1: next week, and that causes more distress for the European region, 158 00:08:45,320 --> 00:08:48,559 Speaker 1: German officials that fear the pipeline might not reopen at all. 159 00:08:49,080 --> 00:08:52,280 Speaker 1: Former President Donald Trump was in Manhattan yesterday for the 160 00:08:52,360 --> 00:08:55,240 Speaker 1: funeral of his ex wife of Donna Trump. More from 161 00:08:55,280 --> 00:08:59,280 Speaker 1: Bloomberg's Charlie Pillett. This morning, John Trump joined all his children, 162 00:08:59,480 --> 00:09:02,400 Speaker 1: all the rell tives and friends at St. Vincent for 163 00:09:02,559 --> 00:09:05,800 Speaker 1: Our Roman Catholic Church on Manhattan's Ouper East Side for 164 00:09:06,040 --> 00:09:10,760 Speaker 1: Ivanna's funeral mass. Writing on his social media platform Truth Social, 165 00:09:11,080 --> 00:09:13,640 Speaker 1: Trump called it a very sad day, but at the 166 00:09:13,720 --> 00:09:17,480 Speaker 1: same time a celebration of a wonderful and beautiful life. 167 00:09:17,920 --> 00:09:21,800 Speaker 1: Ivanna and Donald Trump's three children, Donald Jr. Ivanka, and Eric, 168 00:09:22,120 --> 00:09:25,120 Speaker 1: stood with their father and their families as the gold 169 00:09:25,200 --> 00:09:29,360 Speaker 1: tone casket was carried from the church. John Bloomberridge Charley 170 00:09:29,440 --> 00:09:32,800 Speaker 1: Pillett Feizer will spend four hundred seventy million dollars to 171 00:09:32,880 --> 00:09:37,079 Speaker 1: expand its vaccine research facilities twenty five miles northwest of 172 00:09:37,120 --> 00:09:39,720 Speaker 1: New York City, with the company hopes to maintain its 173 00:09:39,920 --> 00:09:43,920 Speaker 1: edge in the booming field of messenger RNA, the technology 174 00:09:44,000 --> 00:09:47,439 Speaker 1: behind its blockbuster COVID nineteen shot. The drug baker will 175 00:09:47,480 --> 00:09:51,000 Speaker 1: construct a new building and renovate existing facilities at its 176 00:09:51,120 --> 00:09:54,400 Speaker 1: campus in Pearl River. Global News twenty four hours a 177 00:09:54,480 --> 00:09:57,240 Speaker 1: day on Aerona Bloomberg Quicktake were powered by more than 178 00:09:57,320 --> 00:10:00,200 Speaker 1: twenty seven hundred journalists and analysts it more than one 179 00:10:00,640 --> 00:10:04,800 Speaker 1: twenty countries. John Tucker, This is Bloomberg, Nathan. Thanks John. 180 00:10:09,440 --> 00:10:11,560 Speaker 1: Almost six ten on Wall Street time for the Bloomberg 181 00:10:11,640 --> 00:10:13,959 Speaker 1: Sports Update with John stash Our. All right, Nat In 182 00:10:14,000 --> 00:10:16,360 Speaker 1: the Yankees and Astros have become a rivalry, even though 183 00:10:16,400 --> 00:10:18,640 Speaker 1: Houston has only been an American League team for a decade, 184 00:10:18,679 --> 00:10:20,640 Speaker 1: but the Astros have beaten the Yanks of the postseason 185 00:10:21,040 --> 00:10:24,240 Speaker 1: three times, of course, excused of banging trash cans and 186 00:10:24,360 --> 00:10:26,840 Speaker 1: signed stealing, and this season they are the two best 187 00:10:26,960 --> 00:10:29,080 Speaker 1: in the a L could very well be facing off 188 00:10:29,120 --> 00:10:31,240 Speaker 1: in October again. The two teams WI turned to the 189 00:10:31,240 --> 00:10:33,599 Speaker 1: All Star break and play a day night doublehead or 190 00:10:33,679 --> 00:10:37,400 Speaker 1: in Houston makeups from the lockout. Yankees are sixty four 191 00:10:37,520 --> 00:10:40,320 Speaker 1: and and Aaron Judge was asked the reason for their 192 00:10:40,400 --> 00:10:43,280 Speaker 1: success this consistency. I think that's when it comes down to, uh, 193 00:10:43,360 --> 00:10:45,360 Speaker 1: this this team saying consistent. You know, that's one thing 194 00:10:45,400 --> 00:10:47,319 Speaker 1: we'll be able to do all year. You know, when 195 00:10:47,320 --> 00:10:49,199 Speaker 1: it doesn't matter who we're playing. You know, if it's 196 00:10:49,240 --> 00:10:50,800 Speaker 1: a you know, best team in the a L, or 197 00:10:50,840 --> 00:10:52,520 Speaker 1: if it's you know, the team in last place, we're 198 00:10:52,520 --> 00:10:54,160 Speaker 1: gonna go out there and you know, trying to win 199 00:10:54,160 --> 00:10:56,640 Speaker 1: every single game, win every single series. And I think 200 00:10:56,679 --> 00:10:58,839 Speaker 1: that's one thing that's helps uparate us this year from 201 00:10:58,880 --> 00:11:01,320 Speaker 1: last year. Judge as thirty three home runs, that's how 202 00:11:01,360 --> 00:11:03,199 Speaker 1: many Roger Marras had at this time, and even this 203 00:11:03,360 --> 00:11:06,160 Speaker 1: nineteen six one with sixty one homers match turned for 204 00:11:06,200 --> 00:11:09,400 Speaker 1: the break tomorrow City Field versus San Diego. James Harden 205 00:11:09,480 --> 00:11:12,760 Speaker 1: traded by Brooklyn the Philadelphia. He declined to forty seven 206 00:11:12,800 --> 00:11:15,240 Speaker 1: million dollar option. He's now resigned with the Sixers, will 207 00:11:15,280 --> 00:11:17,720 Speaker 1: make less, but can be a free agent again next year. 208 00:11:17,800 --> 00:11:21,280 Speaker 1: The forty Niners last year traded up drafted Tray Lance 209 00:11:21,320 --> 00:11:24,360 Speaker 1: to be their quarterback. The incumbent QB Jimmy Garoppolo, has 210 00:11:24,400 --> 00:11:27,400 Speaker 1: now recovered from shoulder surgery, and the Niners have told 211 00:11:27,480 --> 00:11:30,960 Speaker 1: his agent to try and work out a trade. Seattle, Houston, 212 00:11:31,040 --> 00:11:34,720 Speaker 1: and Cleveland seen as possible destinations. Giants begin training camp 213 00:11:34,840 --> 00:11:37,199 Speaker 1: next week. The Giants news is that for two home 214 00:11:37,280 --> 00:11:39,839 Speaker 1: games this season, they will wear the uniforms they wore 215 00:11:39,920 --> 00:11:42,520 Speaker 1: back in the nineteen eighties and nineties. John stash Ward 216 00:11:42,559 --> 00:11:45,839 Speaker 1: Bloomberg Sports, Nathan all Right, John thanks SMP futures down 217 00:11:45,920 --> 00:11:48,720 Speaker 1: down two points, Stown futures down fifty eight, nastact futures 218 00:11:48,760 --> 00:11:51,680 Speaker 1: moving higher now of eighteen points ten. Your treasury down 219 00:11:51,800 --> 00:11:55,120 Speaker 1: six thirty seconds. The yield three point zero four percent, 220 00:11:55,440 --> 00:11:58,000 Speaker 1: the euro one point zero one eight eight against the dollar, 221 00:11:58,080 --> 00:12:00,880 Speaker 1: head of an ECB decision and pulled. Litical turmoil in 222 00:12:01,000 --> 00:12:07,720 Speaker 1: Italy Bloomberg opinion columnist Marcus Ashworth joins us next Bloomberg 223 00:12:07,720 --> 00:12:10,200 Speaker 1: eleven three oh weather heat advisory through eight p m. Sunday. 224 00:12:10,240 --> 00:12:12,559 Speaker 1: We could have strong thunderstorms this afternoon, going up to 225 00:12:12,600 --> 00:12:15,840 Speaker 1: the low nineties, low nineties tomorrow, mid nineties. Saturday could 226 00:12:15,880 --> 00:12:18,800 Speaker 1: hit a hundred by Sunday. Right now eighty in Central 227 00:12:18,840 --> 00:12:25,079 Speaker 1: Park markets, headlines and breaking news twenty four hours a 228 00:12:25,200 --> 00:12:28,160 Speaker 1: day at Bloomberg dot Com, the Bloomberg Business at and 229 00:12:28,360 --> 00:12:38,240 Speaker 1: at Bloomberg Quick Tape. He's a Bloomberg Business Flash and 230 00:12:38,280 --> 00:12:41,480 Speaker 1: I'm Karen Moscow. European stocks are steady with US stock 231 00:12:41,520 --> 00:12:44,480 Speaker 1: index futures as investors brace for the European central banks 232 00:12:44,559 --> 00:12:47,200 Speaker 1: first interest rate hike in eleven years, while Russia resumes 233 00:12:47,200 --> 00:12:50,600 Speaker 1: sending gas to Europe through a keep pipeline, dispelling investors 234 00:12:50,679 --> 00:12:53,320 Speaker 1: worst fears. We checked the markets every fifteen minutes throughout 235 00:12:53,320 --> 00:12:56,240 Speaker 1: the trading day on Bloomberg. Right now is in P futures, 236 00:12:56,240 --> 00:12:59,199 Speaker 1: they're little change. Dow futures down fifty five and nowsday 237 00:12:59,280 --> 00:13:02,240 Speaker 1: futures higher twenty six. The decks in Germany is down 238 00:13:02,280 --> 00:13:04,200 Speaker 1: a third of a percent. The ten year treasury down 239 00:13:04,280 --> 00:13:07,199 Speaker 1: five thirty seconds you three point four percent yield on 240 00:13:07,320 --> 00:13:10,360 Speaker 1: the two year three point two three percent. Ninemex screwed 241 00:13:10,400 --> 00:13:12,959 Speaker 1: Oiola is down about five percent, down four dollars seventy 242 00:13:13,040 --> 00:13:15,360 Speaker 1: nine cents and ninety five dollars nine cents of barrel. 243 00:13:15,600 --> 00:13:17,880 Speaker 1: COMEX School is down one point two percent or twenty 244 00:13:17,880 --> 00:13:21,360 Speaker 1: dollars at six ninety seven seventy. The euro one p 245 00:13:22,240 --> 00:13:25,240 Speaker 1: seven against the dollar, British pound one point one two 246 00:13:25,640 --> 00:13:27,680 Speaker 1: and the end at one thirty eight point seven one. 247 00:13:27,760 --> 00:13:30,200 Speaker 1: And looking at bitcoin, it's down one point one percent 248 00:13:30,520 --> 00:13:33,319 Speaker 1: at twenty two thousand, nine hundred ninety five dollars. That's 249 00:13:33,320 --> 00:13:35,920 Speaker 1: a Bloomberg business flash. Now here's John Tucker with more 250 00:13:35,960 --> 00:13:38,880 Speaker 1: on what's going on around the world. John he Good morning, Karen. 251 00:13:39,120 --> 00:13:42,040 Speaker 1: President Blinden's today but announce investments in new efforts to 252 00:13:42,120 --> 00:13:46,640 Speaker 1: approve community policing in crime prevention. Russia's biggest pipeline at Europe, 253 00:13:46,679 --> 00:13:50,559 Speaker 1: nord Stream one, has restarted the committee investigating the assault 254 00:13:50,640 --> 00:13:53,120 Speaker 1: on the Capitol plans to proceed with a prime time 255 00:13:53,200 --> 00:13:57,839 Speaker 1: hearing tonight. Mario Droni resigns as Italy's Prime minister, throwing 256 00:13:57,880 --> 00:14:01,600 Speaker 1: that country in the turmoil. Sports. Major League Baseball returns 257 00:14:01,640 --> 00:14:05,240 Speaker 1: to action tonight after the All Star Break Global News 258 00:14:05,280 --> 00:14:07,320 Speaker 1: twenty four hours a day on here and on Bloomberg 259 00:14:07,400 --> 00:14:10,360 Speaker 1: Quick Take power by more than twenty seven hundred journalists 260 00:14:10,360 --> 00:14:13,280 Speaker 1: and analysts in more than one hundred twenty countries. I'm 261 00:14:13,360 --> 00:14:16,599 Speaker 1: John Tucker. This is Bloomberg. Nathan alright, John, thank you 262 00:14:16,640 --> 00:14:18,559 Speaker 1: at his six nineteen on Wall Street Life from the 263 00:14:18,559 --> 00:14:21,840 Speaker 1: Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak. On the 264 00:14:21,880 --> 00:14:24,680 Speaker 1: morning of high drama in Europe. We bring in Bloomberg 265 00:14:24,760 --> 00:14:30,120 Speaker 1: opinion columnist Marcus Ashworth on Italian Prime minister drags resignation 266 00:14:30,800 --> 00:14:34,000 Speaker 1: just as his former body, the ECB gets ready for 267 00:14:34,200 --> 00:14:38,040 Speaker 1: a key policy decision. Marcus good warning, what a confluence 268 00:14:38,120 --> 00:14:42,600 Speaker 1: of events. What could drag eas resignation mean for the 269 00:14:42,680 --> 00:14:46,640 Speaker 1: Eurozone more broadly? Oh? Um, well, it can be a lot. 270 00:14:46,880 --> 00:14:49,160 Speaker 1: Or at the moment it's uh, he's gonna hang around 271 00:14:49,200 --> 00:14:53,360 Speaker 1: to October um when as a caretaker, and you know, 272 00:14:53,480 --> 00:14:55,840 Speaker 1: this is Italian politics, he could well come back, so 273 00:14:56,400 --> 00:14:59,000 Speaker 1: don't count him out completely yet. But he has had 274 00:14:59,080 --> 00:15:03,800 Speaker 1: his resignation formally accepted by the President Mattarella, which means 275 00:15:03,880 --> 00:15:05,720 Speaker 1: that you know this in theory is the end and 276 00:15:05,760 --> 00:15:08,840 Speaker 1: there will be an election in October six. Obviously, Italian 277 00:15:08,880 --> 00:15:12,040 Speaker 1: bonds didn't take it very well. Having rallied hard yesterday, 278 00:15:12,080 --> 00:15:17,000 Speaker 1: they've collapsed today. It's still not at levels seen perhaps 279 00:15:17,400 --> 00:15:19,640 Speaker 1: you know last month in June, which was you know, 280 00:15:19,720 --> 00:15:22,800 Speaker 1: really quite scary at one point teny years got over 281 00:15:22,880 --> 00:15:25,920 Speaker 1: four four point two percent. So we're not at those 282 00:15:26,040 --> 00:15:28,680 Speaker 1: levels yet. But we are waiting for the ECB and 283 00:15:28,960 --> 00:15:34,160 Speaker 1: they're anti fragmentation tool a new safety net um. It's 284 00:15:34,320 --> 00:15:36,640 Speaker 1: it's it's not gonna be called QUI. It's it's exactly 285 00:15:36,720 --> 00:15:39,440 Speaker 1: like Q in every shape allards. Eyes are packed. Apart 286 00:15:39,440 --> 00:15:41,680 Speaker 1: from the fact they tell you that it's not. Nonetheless, 287 00:15:42,040 --> 00:15:44,720 Speaker 1: if that's a proper stake in it as an unlimited one, 288 00:15:45,200 --> 00:15:47,600 Speaker 1: then I think Italian bonds will probably relax them and 289 00:15:47,720 --> 00:15:51,280 Speaker 1: we can calm down. We also got the first rate 290 00:15:51,360 --> 00:15:54,000 Speaker 1: height today. It's all coming at the same time. It's 291 00:15:54,040 --> 00:15:57,720 Speaker 1: crazy for the moment um. Don't panic too much to 292 00:15:57,880 --> 00:16:00,560 Speaker 1: this anti fragmentation. To all that works affecting from the 293 00:16:00,560 --> 00:16:06,960 Speaker 1: e CV today apply to the ongoing turmoil in Italian politics. 294 00:16:07,040 --> 00:16:11,440 Speaker 1: I mean, Italian political turmoil is almost par for the 295 00:16:11,520 --> 00:16:14,680 Speaker 1: course in some ways, isn't it. You've got to the 296 00:16:14,800 --> 00:16:18,320 Speaker 1: nub of it there, and it basically if the ECB 297 00:16:18,520 --> 00:16:20,920 Speaker 1: has a really tricky problem here and trying to portray 298 00:16:21,120 --> 00:16:23,720 Speaker 1: that any safety in it is not monetary financing. They're 299 00:16:23,760 --> 00:16:27,440 Speaker 1: not just simply banning out of government which is not 300 00:16:28,320 --> 00:16:30,960 Speaker 1: in control of its finances. And that's gonna be the 301 00:16:31,000 --> 00:16:33,360 Speaker 1: really tricky one. Is there going to be some form 302 00:16:33,440 --> 00:16:38,360 Speaker 1: of political and economic underwriting of of when this particular 303 00:16:38,440 --> 00:16:41,040 Speaker 1: tool can be used or is it blind to all 304 00:16:41,080 --> 00:16:44,920 Speaker 1: these different things? Who gets to interpret that? Uh? And 305 00:16:45,040 --> 00:16:46,800 Speaker 1: that is going to be very very difficult thing for 306 00:16:46,880 --> 00:16:51,040 Speaker 1: obviously Germany. To another more sort of austere countries is 307 00:16:51,080 --> 00:16:54,200 Speaker 1: when it comes to financial prolicies, how they take it, 308 00:16:54,320 --> 00:16:56,480 Speaker 1: how they react to it. You know, could there be 309 00:16:56,560 --> 00:16:59,920 Speaker 1: a fifty basis point rate height to you know, perhap 310 00:17:00,960 --> 00:17:04,159 Speaker 1: bribe them into accepting a more comprehensive safety net. Or 311 00:17:04,960 --> 00:17:06,880 Speaker 1: there are also the possibility we don't get the full 312 00:17:06,920 --> 00:17:10,280 Speaker 1: details today or not sufficient details from the market. It's 313 00:17:10,320 --> 00:17:12,880 Speaker 1: a long summer Togo. The next proper meeting might beti 314 00:17:13,000 --> 00:17:16,080 Speaker 1: September um when we are expecting a bigger right hike. 315 00:17:16,160 --> 00:17:19,399 Speaker 1: But the point areas is that they President Leguard has 316 00:17:19,400 --> 00:17:21,520 Speaker 1: got to deliver on a number of different fronts today 317 00:17:21,880 --> 00:17:25,680 Speaker 1: and a very difficult political backdrop. The chances of it 318 00:17:25,720 --> 00:17:28,560 Speaker 1: all going wrong and telling yields blowing out are clearly 319 00:17:28,680 --> 00:17:31,160 Speaker 1: very high. But she's gonna have to do a very good, big, 320 00:17:31,240 --> 00:17:33,880 Speaker 1: confident job telling is all that everything's gonna be fine. 321 00:17:34,200 --> 00:17:35,960 Speaker 1: Since you brought up the debate over whether we're gonna 322 00:17:36,000 --> 00:17:38,640 Speaker 1: see fifty basis points or twenty five, let's get into 323 00:17:38,720 --> 00:17:41,000 Speaker 1: that a little bit. What is the case for the 324 00:17:41,119 --> 00:17:44,639 Speaker 1: ECB to sort of blow past its guidance and deliver 325 00:17:44,840 --> 00:17:48,440 Speaker 1: a bigger hike. Well, it's not of themselves. Like always, 326 00:17:48,440 --> 00:17:50,359 Speaker 1: they're always getting their own way, and they could really 327 00:17:50,440 --> 00:17:53,600 Speaker 1: step elegantly out this and claim the days dependent and 328 00:17:54,119 --> 00:17:56,400 Speaker 1: but they do that, it means the whole forward guidance 329 00:17:56,480 --> 00:17:58,680 Speaker 1: stick and the whole way they've approached everything up to 330 00:17:58,760 --> 00:18:01,600 Speaker 1: now are very clearly sing things out will be blown 331 00:18:01,640 --> 00:18:03,320 Speaker 1: out the water and it will be embarrassing and also 332 00:18:03,400 --> 00:18:06,480 Speaker 1: would make it seem that President the Garden her chief 333 00:18:06,480 --> 00:18:09,080 Speaker 1: economists Philip Laine, who are more the Dovish irons, have 334 00:18:09,280 --> 00:18:13,560 Speaker 1: been overruled and outvoted. So um Therefore, I think they 335 00:18:13,640 --> 00:18:15,919 Speaker 1: probably will stick with twenty five basis points, even though 336 00:18:15,960 --> 00:18:18,879 Speaker 1: I believe like most people they should go fifty. So 337 00:18:19,560 --> 00:18:21,800 Speaker 1: you know, all to play for here, And as I said, 338 00:18:21,840 --> 00:18:24,680 Speaker 1: it's not the most important thing today is whether the 339 00:18:24,720 --> 00:18:28,960 Speaker 1: word unlimited is used with this antifragrammentation tools. If it's not, 340 00:18:29,160 --> 00:18:32,639 Speaker 1: and it's couched in terms which make it unlikely that 341 00:18:32,720 --> 00:18:35,040 Speaker 1: certain countries will will take it and use it, will 342 00:18:35,080 --> 00:18:38,120 Speaker 1: be allowed to or be changed legally, then the whole 343 00:18:38,240 --> 00:18:40,399 Speaker 1: effect could go unwind and that probably more important than 344 00:18:40,400 --> 00:18:43,119 Speaker 1: whether it's twenty five or fifty. Now last less than 345 00:18:43,160 --> 00:18:46,480 Speaker 1: a minute here, Marcus, what about the energy uncertainty with 346 00:18:46,640 --> 00:18:50,120 Speaker 1: the nord Stream pipeline at least partially getting flows back going. 347 00:18:50,960 --> 00:18:54,040 Speaker 1: How does that factor into whatever the UCV decides. Well, 348 00:18:54,119 --> 00:18:56,080 Speaker 1: it's just am A getting delayed. I mean, I think 349 00:18:56,119 --> 00:18:58,480 Speaker 1: obviously they'll be grateful for that. They won't and shouldn't 350 00:18:58,520 --> 00:19:00,679 Speaker 1: take too much comfort for it. It can turn back 351 00:19:00,720 --> 00:19:05,000 Speaker 1: off again. There's still the turbine sort of refurbishment issue 352 00:19:05,040 --> 00:19:07,680 Speaker 1: to play for. But the moment, it just looks like, 353 00:19:08,080 --> 00:19:10,440 Speaker 1: as as we most people expected a little bit of 354 00:19:10,480 --> 00:19:13,320 Speaker 1: mind games here or game theory going from Russia. They've 355 00:19:13,400 --> 00:19:15,239 Speaker 1: turned I've turned it back on. That's the short term 356 00:19:15,280 --> 00:19:17,680 Speaker 1: good news doesn't mean there will be any chance of 357 00:19:17,720 --> 00:19:21,160 Speaker 1: getting up to proper capacity by the wintertime. It's still 358 00:19:21,320 --> 00:19:24,760 Speaker 1: very much open and to playful. So it's just it 359 00:19:24,800 --> 00:19:27,040 Speaker 1: could have been worse today that it could not have started. 360 00:19:27,280 --> 00:19:29,760 Speaker 1: The fact that has is, I suppose a small good news, 361 00:19:29,800 --> 00:19:31,399 Speaker 1: but an awful lot more to happen. It's gonna be 362 00:19:31,400 --> 00:19:34,399 Speaker 1: a busy day, yeah, busy summer as you alluded to. 363 00:19:34,560 --> 00:19:37,000 Speaker 1: Thank you, Marcus great having gone with us. Marcus Ashworth 364 00:19:37,040 --> 00:19:40,440 Speaker 1: of Bloomberg Opinion. Check out more from our opinion calumnists 365 00:19:40,480 --> 00:19:42,879 Speaker 1: O P. I N Go on the Bloomberg Terminal or 366 00:19:43,119 --> 00:19:47,320 Speaker 1: NI Ashworth Girl see everything. Marcus is contributing as part 367 00:19:47,359 --> 00:19:50,280 Speaker 1: of our team of opinion calumnists on the Bloomberg Terminal. 368 00:19:50,600 --> 00:19:53,959 Speaker 1: Right now, SMP futures little change down a point. Dow 369 00:19:54,119 --> 00:19:57,040 Speaker 1: future is down fifty one, Nastack futures are higher by 370 00:19:57,160 --> 00:20:00,520 Speaker 1: twenty four points ten. Your treasury down five can seal 371 00:20:00,600 --> 00:20:08,720 Speaker 1: three point zero four percent? This is Bloomberg Bloomberg eleven 372 00:20:08,760 --> 00:20:11,240 Speaker 1: three or whether the heat wave continues Heat advisory till 373 00:20:11,320 --> 00:20:14,680 Speaker 1: eight p m. Sunday today. We could see some strong 374 00:20:14,840 --> 00:20:22,720 Speaker 1: storms right now It's eighty degrees in Central Park. Broadcasting 375 00:20:22,840 --> 00:20:26,520 Speaker 1: live from the Bloomberg Interacted Broker Studio in New York. 376 00:20:26,680 --> 00:20:30,600 Speaker 1: Bloomberg E Living Freedom to Washington, d C. Bloomberg one 377 00:20:30,760 --> 00:20:33,960 Speaker 1: to Boston, Bloomberg one, O six one to San Francisco, 378 00:20:34,040 --> 00:20:37,240 Speaker 1: Bloomberg nine sixt to the Country, Sirius XM Till the 379 00:20:37,320 --> 00:20:40,240 Speaker 1: one nine team, and around the globe the Bloomberg Business 380 00:20:40,320 --> 00:20:44,320 Speaker 1: apt and Bloomberg Radio dot Com. This is Bloomberg Daybreak 381 00:20:50,119 --> 00:20:52,399 Speaker 1: six thirty on Wall Street. Good morning, I'm Nathan Hagar, 382 00:20:52,960 --> 00:20:55,440 Speaker 1: but I'm Karen Moscow. We are just about three hours 383 00:20:55,480 --> 00:20:57,520 Speaker 1: away from the open of US trading. Time for the 384 00:20:57,600 --> 00:20:59,600 Speaker 1: five things that you need to notice. Start your day 385 00:20:59,680 --> 00:21:04,080 Speaker 1: bronck to you by Interactive Brokers. Interactive Brokers symbol IBK, 386 00:21:04,200 --> 00:21:07,000 Speaker 1: our Global Trader app. Deposit in your local currency and 387 00:21:07,080 --> 00:21:09,719 Speaker 1: trade stocks in the US, Europe and Asia. Start your 388 00:21:09,760 --> 00:21:13,680 Speaker 1: free trial at ibkr dot com. Slash Global Trader. First 389 00:21:13,760 --> 00:21:16,560 Speaker 1: returned to Italy, where Prime Minister Mario drag has offered 390 00:21:16,600 --> 00:21:19,480 Speaker 1: his resignation to Italy's president. The move comes as the 391 00:21:19,520 --> 00:21:22,399 Speaker 1: European Central Bank is set to raise interest rates today. 392 00:21:22,680 --> 00:21:26,320 Speaker 1: Bloomberg News Senior editor in Italy, Gerald Colton says it 393 00:21:26,440 --> 00:21:30,200 Speaker 1: makes the ECB meeting all the more important. It underscores 394 00:21:30,359 --> 00:21:33,159 Speaker 1: the fragility of countries like Italy. You can see that 395 00:21:33,240 --> 00:21:37,879 Speaker 1: the bond the bond market has closely tracked the stability 396 00:21:37,960 --> 00:21:40,200 Speaker 1: of the draggy government jog. He has been seen as 397 00:21:40,280 --> 00:21:43,680 Speaker 1: the sort of a guarant for of obstability for for 398 00:21:43,880 --> 00:21:46,840 Speaker 1: Italy and for you know, and for the weaker countries 399 00:21:46,880 --> 00:21:50,119 Speaker 1: in in the European Union at large. In reasones the 400 00:21:50,160 --> 00:21:53,520 Speaker 1: States for what's happening today, Bloomberg News Senior editor Gerald 401 00:21:53,600 --> 00:21:56,760 Speaker 1: Coulton says elections are the next step in Italy, likely 402 00:21:56,840 --> 00:21:59,280 Speaker 1: to take place later this year. Well. Turning to US 403 00:21:59,320 --> 00:22:01,840 Speaker 1: corporate earnings, Karen Shares of Tesla are up three and 404 00:22:01,840 --> 00:22:04,280 Speaker 1: a half percent in early trading. The EVY leaders second 405 00:22:04,320 --> 00:22:07,359 Speaker 1: quarter earnings beat Wall Street estimates. Morning Star Energy and 406 00:22:07,440 --> 00:22:10,400 Speaker 1: Resources equity analyst Seth Goldstein has more on the company's 407 00:22:10,400 --> 00:22:14,600 Speaker 1: outlook this year. A few surprises, no announcements of new 408 00:22:14,720 --> 00:22:17,960 Speaker 1: vehicle delays or anything. The four, six, eight cells are 409 00:22:17,960 --> 00:22:20,800 Speaker 1: still ramping up. So all in all, just another quarter 410 00:22:20,920 --> 00:22:24,000 Speaker 1: where Tesla will continue to execut and I've expected things 411 00:22:24,040 --> 00:22:26,400 Speaker 1: to improve throughout the rest of the year. Well Learning 412 00:22:26,440 --> 00:22:29,159 Speaker 1: star Seth Goldstein says lockdowns in China do pose a 413 00:22:29,240 --> 00:22:32,000 Speaker 1: threat to Tesla this year. Meanwhile, a growing number of 414 00:22:32,080 --> 00:22:35,000 Speaker 1: companies are slamming the brakes on hiring. Bloomberg's or Needy 415 00:22:35,040 --> 00:22:37,920 Speaker 1: Young joins US Live with more on that story. Good morning, Ready, 416 00:22:38,119 --> 00:22:41,040 Speaker 1: Good morning Karen. Microsoft, Google, and Lift are some of 417 00:22:41,119 --> 00:22:45,400 Speaker 1: the latest companies to freeze hiring as a recession fears loom, 418 00:22:45,680 --> 00:22:49,080 Speaker 1: inflation mounts, the war in Ukraine continues, and the lingering 419 00:22:49,160 --> 00:22:52,960 Speaker 1: pandemic takes a toll. Microsoft is eliminating many job openings. 420 00:22:53,119 --> 00:22:56,240 Speaker 1: Google's pausing hiring for the next two weeks. Lift is 421 00:22:56,280 --> 00:22:59,879 Speaker 1: shutting down a division and trimmy jobs. Meanwhile, Bloomberg so 422 00:23:00,040 --> 00:23:02,760 Speaker 1: versus say Ford is preparing to cut as many as 423 00:23:02,880 --> 00:23:06,040 Speaker 1: eight thousand jobs in the coming weeks. Live in New York. 424 00:23:06,119 --> 00:23:08,520 Speaker 1: I'm really need a Young Bloomberg daybreak. Thanks for Needing. 425 00:23:08,520 --> 00:23:10,600 Speaker 1: The news of the slowdown in corporate hiring comes as 426 00:23:10,600 --> 00:23:13,320 Speaker 1: the Labor Department gets ready to issue weekly jobless claims. 427 00:23:13,400 --> 00:23:16,840 Speaker 1: Data economists forecast claims will remain elevated after they set 428 00:23:16,920 --> 00:23:20,159 Speaker 1: a record low earlier this year, and a t n 429 00:23:20,240 --> 00:23:23,240 Speaker 1: T crossing the Bloomberg now right now, it's earning second 430 00:23:23,320 --> 00:23:26,399 Speaker 1: quarter profit, beating analysts Estimates. Says the five things you 431 00:23:26,480 --> 00:23:28,399 Speaker 1: need to notice start your day, brought to you by 432 00:23:28,560 --> 00:23:31,800 Speaker 1: Interactive Brokers, straight Ahead, your latest local headlines, Spuster, check 433 00:23:31,840 --> 00:23:38,919 Speaker 1: of Sports, and this is Bloomberg. Thanks Karen. We're at 434 00:23:38,920 --> 00:23:41,080 Speaker 1: six thirty three on Wall Street, seventy nine degrees in 435 00:23:41,240 --> 00:23:45,320 Speaker 1: Central Park with that heat advisory all week long. Still 436 00:23:45,359 --> 00:23:48,080 Speaker 1: dealing with an accident southbounds two eight seven. It's closed 437 00:23:48,160 --> 00:23:51,119 Speaker 1: after roots seventeen. John Tucker has more on what's going 438 00:23:51,160 --> 00:23:53,159 Speaker 1: on in New York and around the world. John Man, 439 00:23:53,280 --> 00:23:56,240 Speaker 1: if you were looking for a quick relief from shoring temperatures, Nathan, 440 00:23:56,359 --> 00:23:59,119 Speaker 1: forget about it. Bloomberg Metirama just just Rob caren Lyin 441 00:23:59,200 --> 00:24:03,560 Speaker 1: says we will be approaching triple digits. John. The Tristate 442 00:24:03,640 --> 00:24:06,600 Speaker 1: area now under a heat advisory until eight p m. Sunday. 443 00:24:06,680 --> 00:24:08,720 Speaker 1: It is going to be very uncomfortable over the next 444 00:24:08,760 --> 00:24:11,080 Speaker 1: couple of days. Tomorrow is the best day out of 445 00:24:11,160 --> 00:24:13,480 Speaker 1: the next four because the humidity falls a little bit, 446 00:24:13,560 --> 00:24:16,000 Speaker 1: but it's still very hot. Big issue today not only 447 00:24:16,080 --> 00:24:18,600 Speaker 1: the heat, but the potential for afternoon showers and thunderstorms. 448 00:24:18,640 --> 00:24:21,840 Speaker 1: Some of which may be strong with heavy rain, vivid lightning, 449 00:24:21,960 --> 00:24:24,440 Speaker 1: and gusty winds, and by Sunday we could see parts 450 00:24:24,480 --> 00:24:28,560 Speaker 1: of the Tristate area near hundred John Bloomberg meteorologists rob Caroline, 451 00:24:28,640 --> 00:24:32,240 Speaker 1: civil engineers and transit authorities. So the heat is threatening 452 00:24:32,320 --> 00:24:36,400 Speaker 1: rail networks, amtrack and posed heat related speed restrictions within 453 00:24:36,480 --> 00:24:41,200 Speaker 1: its northeast quarter. The pharmaceutical giant Visor expanding its facilities 454 00:24:41,200 --> 00:24:44,480 Speaker 1: in New York. More of that story from Bloomberg's Jeff Bellinger. 455 00:24:45,040 --> 00:24:48,240 Speaker 1: Visor will spend four hundred seventy million dollars to expand 456 00:24:48,280 --> 00:24:52,359 Speaker 1: its vaccine research facilities twenty five miles northwest of the city. 457 00:24:52,640 --> 00:24:55,960 Speaker 1: The drugmaker will construct a new building and renovate existing 458 00:24:56,000 --> 00:24:59,080 Speaker 1: facilities on its campus in Pearl River that has been 459 00:24:59,119 --> 00:25:03,520 Speaker 1: the nexus of oborratory research driving its vaccine programs, including 460 00:25:03,600 --> 00:25:06,800 Speaker 1: the one for COVID. In partnership with myon Tech, the 461 00:25:06,880 --> 00:25:09,679 Speaker 1: company hopes to maintain its edge in the booming field 462 00:25:09,760 --> 00:25:14,840 Speaker 1: of Messenger RNA. Jeff Bellinger Bloomberg debris Russia's moving to 463 00:25:14,920 --> 00:25:18,840 Speaker 1: annex occupied Ukrainian territories. The Kremlin in a dashed to 464 00:25:18,920 --> 00:25:22,680 Speaker 1: hold referendums in those areas occupied by its troops to 465 00:25:22,760 --> 00:25:25,840 Speaker 1: give grounds for President Putin to absorb them into Russia. 466 00:25:26,280 --> 00:25:29,919 Speaker 1: Sources tell Bloomberg it could come as early as September. Meantime, 467 00:25:30,000 --> 00:25:33,000 Speaker 1: Russia started sending gas through its biggest pipeline to Europe. 468 00:25:33,320 --> 00:25:36,080 Speaker 1: The resumption of exports will provide some relief for the 469 00:25:36,160 --> 00:25:39,760 Speaker 1: continent that's racing to store the fuel before winter, but 470 00:25:39,880 --> 00:25:43,280 Speaker 1: now may also ease fears of a massive economic damage 471 00:25:43,359 --> 00:25:46,560 Speaker 1: to the European Union. And a healthy majority of Americans 472 00:25:46,680 --> 00:25:49,199 Speaker 1: don't want to see either Joe Biden or former President 473 00:25:49,280 --> 00:25:54,359 Speaker 1: Trump run again. That's according to a Quinnipiac University poll. 474 00:25:54,800 --> 00:25:58,400 Speaker 1: Biden's approval rating filled to thirty one percent. Fully sixty 475 00:25:58,520 --> 00:26:01,040 Speaker 1: four percent of Americans. I don't want to see Trump 476 00:26:01,160 --> 00:26:04,840 Speaker 1: make another White House bid, according to the Pole Global 477 00:26:04,920 --> 00:26:07,120 Speaker 1: News twenty four hours a day on errand on Bloomberg 478 00:26:07,200 --> 00:26:10,000 Speaker 1: Quicktake power by more than twenty seven hundred journalists and 479 00:26:10,040 --> 00:26:13,240 Speaker 1: analysts and more than one twenty countries. I'm John Sucker. 480 00:26:13,359 --> 00:26:20,800 Speaker 1: This is Bloomberg, Nathan, Thank you, John. Almost six thirty 481 00:26:20,840 --> 00:26:23,600 Speaker 1: six on Wall Street, John Stashower has a Bloomberg Sports update. 482 00:26:23,720 --> 00:26:26,200 Speaker 1: Thanks to Nathan Yankees and Astros, We're supposed to start 483 00:26:26,280 --> 00:26:28,159 Speaker 1: the season in Houston, that series put off due to 484 00:26:28,200 --> 00:26:30,480 Speaker 1: the lockout. Yanks went there a few weeks ago for 485 00:26:30,640 --> 00:26:32,840 Speaker 1: one game. They're back today for a day night double. 486 00:26:32,840 --> 00:26:35,000 Speaker 1: Ahead of these two far and away the two best 487 00:26:35,040 --> 00:26:36,960 Speaker 1: teams in the American day, they could certainly be meeting 488 00:26:37,000 --> 00:26:39,480 Speaker 1: in October, and if so, it would almost certainly be 489 00:26:39,840 --> 00:26:42,240 Speaker 1: for the pennant Astro's have ended the Yanks season three 490 00:26:42,320 --> 00:26:45,399 Speaker 1: times since two thousand and fifteen, twice in the ALCS. 491 00:26:45,520 --> 00:26:48,359 Speaker 1: It's been so far a storybook season for Aaron Judge. 492 00:26:48,400 --> 00:26:50,480 Speaker 1: Thirty three home runs and playing for a team that 493 00:26:50,680 --> 00:26:53,600 Speaker 1: is sixty four and there's still a long way to go. 494 00:26:53,840 --> 00:26:55,720 Speaker 1: You know, this team and you know myself, we set 495 00:26:55,760 --> 00:26:58,480 Speaker 1: ourselves up for a good position. Um, there's still a 496 00:26:58,480 --> 00:27:00,000 Speaker 1: lot of baseball to players. Still a lot of game 497 00:27:00,080 --> 00:27:01,480 Speaker 1: is to play, you know. So the minute I sit 498 00:27:01,560 --> 00:27:03,960 Speaker 1: back here and you know, sit back in a comfy 499 00:27:04,040 --> 00:27:06,119 Speaker 1: chair and say, well, you know, we got thirty homers, 500 00:27:06,160 --> 00:27:08,680 Speaker 1: we got this and that, then someone's gonna pass to 501 00:27:08,840 --> 00:27:11,280 Speaker 1: our next team is gonna, you know, start creeping up 502 00:27:11,320 --> 00:27:13,680 Speaker 1: on You're gonna standing and so I just you gotta 503 00:27:13,720 --> 00:27:15,560 Speaker 1: keep her, you gotta keep the blinders on. That's what 504 00:27:15,680 --> 00:27:17,959 Speaker 1: certainly all start break tomorrow at home against San Diego. 505 00:27:18,080 --> 00:27:21,800 Speaker 1: Jacob Degram today will throw a simulated game, pushed back 506 00:27:21,840 --> 00:27:23,840 Speaker 1: a couple of days, but the hope is that the 507 00:27:23,960 --> 00:27:26,600 Speaker 1: next time to Grams on the mound, it's his Mets 508 00:27:26,640 --> 00:27:29,359 Speaker 1: season debut. James Harden, staying in Philadelphia, acquired in a 509 00:27:29,400 --> 00:27:32,320 Speaker 1: trade with the Nazi, declined a forty seven million dollar option, 510 00:27:32,680 --> 00:27:34,520 Speaker 1: signed for less, but he can be a free agent 511 00:27:34,520 --> 00:27:37,000 Speaker 1: again next year. As to the Nets, trying to decide 512 00:27:37,040 --> 00:27:39,320 Speaker 1: what to do, Kevinaurant wants to be traded, will they 513 00:27:39,400 --> 00:27:42,040 Speaker 1: keep Kyrie Irving? And the next said to be attempting 514 00:27:42,119 --> 00:27:44,480 Speaker 1: to acquire Donovan Mitchell from Utah, but the latest word 515 00:27:44,520 --> 00:27:46,520 Speaker 1: on that is that the Jazz are in no hurry. 516 00:27:46,920 --> 00:27:49,960 Speaker 1: Miles Bridges, Charlotte's leading score last season, was in court 517 00:27:50,080 --> 00:27:53,639 Speaker 1: yesterday pleading not guilty the three felony domestic violence charges. 518 00:27:53,920 --> 00:27:56,760 Speaker 1: The forty Niners have told quarterback to be Garoppolo's agent 519 00:27:57,000 --> 00:27:58,880 Speaker 1: to try and work out a trade as they make 520 00:27:58,960 --> 00:28:03,000 Speaker 1: room for Trey Lance. The Giants announced they were throwback 521 00:28:03,119 --> 00:28:06,520 Speaker 1: uniforms twice next season. Golf Andrik Stenson joined the Staudi 522 00:28:06,560 --> 00:28:08,240 Speaker 1: back Lift Tori. He has now had his job of 523 00:28:08,280 --> 00:28:12,400 Speaker 1: European Ryder Cup captain taken away. John Stash a Bloomberg 524 00:28:12,440 --> 00:28:14,840 Speaker 1: Sports Nathan Okay, John, thank you. It is six thirty 525 00:28:14,920 --> 00:28:16,560 Speaker 1: seven on Wall Street. Time to take a look at 526 00:28:16,600 --> 00:28:18,720 Speaker 1: stock some of the names moving in the pre market. 527 00:28:18,800 --> 00:28:21,160 Speaker 1: For that, we're joined this morning by Bloomberg Market slave 528 00:28:21,200 --> 00:28:25,440 Speaker 1: reporter Heather Burke. Heather, good morning. Sounds like Tesla investors 529 00:28:25,560 --> 00:28:29,680 Speaker 1: liked what they heard from earnings last night. Yeah, Hei, so, 530 00:28:29,840 --> 00:28:32,480 Speaker 1: Tessa was up about three point five. Um. So, the 531 00:28:32,560 --> 00:28:36,440 Speaker 1: electric vehicle maker reported second quarter profit that beat, and 532 00:28:36,520 --> 00:28:40,240 Speaker 1: it kept its production forecast for fifty average annual growth 533 00:28:40,400 --> 00:28:43,600 Speaker 1: over a multi year horizon. Um Musk said that the 534 00:28:43,640 --> 00:28:46,680 Speaker 1: company were going through supply chain hell, but believes that 535 00:28:46,840 --> 00:28:48,600 Speaker 1: it can emerge from it in the second half of 536 00:28:48,640 --> 00:28:51,720 Speaker 1: the year. Um. The flip side to that is some 537 00:28:51,920 --> 00:28:55,640 Speaker 1: crypto exposed stock such as micro Strategy and coin base 538 00:28:56,040 --> 00:28:59,480 Speaker 1: are dropping in pre market trading. Um. That's because bitcoin 539 00:29:00,000 --> 00:29:03,240 Speaker 1: into declines after Tesla disclosed that it's sold the majority 540 00:29:03,280 --> 00:29:06,200 Speaker 1: of its holdings during the second quarter. Yeah, not surprising 541 00:29:06,240 --> 00:29:08,040 Speaker 1: to see that kind of move after that sort of 542 00:29:08,200 --> 00:29:13,160 Speaker 1: eyeball raising announcement from Elon Musk. Karen also just mentioned 543 00:29:13,160 --> 00:29:15,640 Speaker 1: moments ago we got earnings from A T and T 544 00:29:16,200 --> 00:29:19,280 Speaker 1: and earnings beat. How's that stuck doing. Yeah, it's still 545 00:29:19,320 --> 00:29:23,040 Speaker 1: a little bit. Um So the exceeded the estimates on 546 00:29:23,160 --> 00:29:27,480 Speaker 1: profit and wireless subscriber groups because of deep growth because 547 00:29:27,520 --> 00:29:30,680 Speaker 1: of deep discounts on new phones. Um even though you 548 00:29:30,720 --> 00:29:33,840 Speaker 1: know bills are getting more expensive. But the company lowered 549 00:29:33,880 --> 00:29:37,240 Speaker 1: its free cash flow forecast because of higher spending on 550 00:29:37,360 --> 00:29:40,520 Speaker 1: those promotions and network gear. Okay, and we got some 551 00:29:40,600 --> 00:29:45,600 Speaker 1: other earnings as well, including al Cola. Another earnings beat there. Yeah, 552 00:29:46,360 --> 00:29:49,680 Speaker 1: so they are up about five six um so it's 553 00:29:49,720 --> 00:29:54,560 Speaker 1: aluminum producer. They are adjusted EBATA topped average analysts estimates, 554 00:29:54,640 --> 00:29:58,640 Speaker 1: and they also announced an additional five million authorization for 555 00:29:58,840 --> 00:30:03,640 Speaker 1: future repurchases. And some news from Carnival a share offering 556 00:30:03,800 --> 00:30:07,160 Speaker 1: for the cruise line. Yes, so they are down like 557 00:30:07,320 --> 00:30:09,760 Speaker 1: eleven percent in pre market trading, and also that you 558 00:30:09,880 --> 00:30:13,040 Speaker 1: Care Shop shares have been down, so they are launching 559 00:30:13,080 --> 00:30:15,560 Speaker 1: a one billion dollar share offering. It's one of the 560 00:30:15,680 --> 00:30:19,120 Speaker 1: largest US equity races to date. Um. It has to 561 00:30:19,200 --> 00:30:25,240 Speaker 1: help address its debt maturities. And finally, Heather muted outlook 562 00:30:25,320 --> 00:30:29,760 Speaker 1: from United Airlines. Yeah, so they are limiting flying for 563 00:30:29,840 --> 00:30:32,600 Speaker 1: the rest of this year and killing its growth plans 564 00:30:32,720 --> 00:30:34,880 Speaker 1: next year because they're trying to get a handle on 565 00:30:34,960 --> 00:30:38,840 Speaker 1: the flight disruptions that are royal the industry. That being said, 566 00:30:39,000 --> 00:30:42,640 Speaker 1: it continues to expect profits amid robust travel demand. So 567 00:30:42,760 --> 00:30:46,080 Speaker 1: these two factors are really weighing on airline stocks. Okay, 568 00:30:46,200 --> 00:30:49,160 Speaker 1: thank you as always. Bloomberg Markets Live reporter Heather Burke. 569 00:30:49,480 --> 00:30:51,440 Speaker 1: Check out more of her work on the Markets Live 570 00:30:51,520 --> 00:30:54,840 Speaker 1: blog m l I v GO M Live on the 571 00:30:54,880 --> 00:30:58,480 Speaker 1: Bloomberg terminal. Looking ahead to the market open, SMP future 572 00:30:58,560 --> 00:31:02,080 Speaker 1: is little changed, down one point. The future is down 573 00:31:02,120 --> 00:31:05,400 Speaker 1: fifty three Nastack futures are higher just a bit, up 574 00:31:05,480 --> 00:31:08,840 Speaker 1: twenty six points. The tenure Treasury is down to thirty seconds. 575 00:31:08,880 --> 00:31:11,120 Speaker 1: Yield three point zero three percent yield on the two 576 00:31:11,200 --> 00:31:15,800 Speaker 1: year three point to two. You're listening to Bloomberg Daybreak 577 00:31:22,240 --> 00:31:25,760 Speaker 1: Bloomberg eleven three oh weather heat advisory through eight pm Sunday. 578 00:31:25,880 --> 00:31:29,560 Speaker 1: Strong storms possible this afternoon, low nineties sunshine, low nineties 579 00:31:29,600 --> 00:31:33,400 Speaker 1: tomorrow could hit a hundred by Sunday. Right now seventy 580 00:31:33,480 --> 00:31:39,760 Speaker 1: nine in Central Park, Markets headlines and breaking news twenty 581 00:31:39,800 --> 00:31:42,640 Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg 582 00:31:42,680 --> 00:31:46,720 Speaker 1: Business at hand at Bloomberg Victape, He's a Bloomberg Business 583 00:31:46,760 --> 00:31:56,280 Speaker 1: flash and I'm Karen Moscow. SMP futures are moving lower 584 00:31:56,360 --> 00:31:58,280 Speaker 1: this morning. We got to the first word breaking news 585 00:31:58,360 --> 00:32:00,960 Speaker 1: days for today's morning call, and here Bill Maloney, Bill, 586 00:32:01,000 --> 00:32:05,160 Speaker 1: good morning, Hey, Good morning, Karen. Overall US futures trading 587 00:32:05,280 --> 00:32:07,880 Speaker 1: mixed right now, with DEAT futures lotted by seventy eight points. 588 00:32:07,960 --> 00:32:10,920 Speaker 1: Like you said, smps are down, while Nasdaq futures are 589 00:32:11,000 --> 00:32:13,520 Speaker 1: higher by nine. The US ten year old at three 590 00:32:13,560 --> 00:32:16,320 Speaker 1: point oh four percent, Gold is down twelve. Oil is 591 00:32:16,440 --> 00:32:19,280 Speaker 1: also under pressure, and bitcoin is down by one point 592 00:32:19,320 --> 00:32:22,240 Speaker 1: to percent. Hong Kong fell one and a half percent overnight, 593 00:32:22,280 --> 00:32:25,040 Speaker 1: while europ markets are trading mixed this morning, and back 594 00:32:25,080 --> 00:32:27,040 Speaker 1: in the US on the economic front, at A thirty 595 00:32:27,080 --> 00:32:30,800 Speaker 1: initial jobs claims and Philly fed after develous night. Tesla 596 00:32:30,920 --> 00:32:33,720 Speaker 1: epsped simates it also sold a chunk of its steak 597 00:32:33,880 --> 00:32:36,840 Speaker 1: in bitcoin and regarding earnings this morning, a T and 598 00:32:36,880 --> 00:32:39,320 Speaker 1: T E p sped estimates also look for Philip Morris 599 00:32:39,360 --> 00:32:42,320 Speaker 1: and Union Pacific to report in the pre market and 600 00:32:42,520 --> 00:32:44,840 Speaker 1: under news Carnival is selling a billion in stock and 601 00:32:45,000 --> 00:32:48,080 Speaker 1: wrapping things up. Docu sign was cut to underweight over 602 00:32:48,160 --> 00:32:51,520 Speaker 1: at Piper Live from the first Breaking news descom Bill Maloney. 603 00:32:51,600 --> 00:32:54,000 Speaker 1: Karen all right, Bill, thank you, man to hear live 604 00:32:54,040 --> 00:32:56,800 Speaker 1: breaking news over your Bloomberg type squawk on your terminal 605 00:32:56,960 --> 00:32:59,960 Speaker 1: squ a w K and that's a Bloomberg business flash down. 606 00:33:00,000 --> 00:33:02,320 Speaker 1: Here's John Tucker with more on what's going on around 607 00:33:02,320 --> 00:33:05,640 Speaker 1: the world. John and Karen. The committee investigating the assault 608 00:33:05,680 --> 00:33:07,960 Speaker 1: on the Capitol plans to proceed with a prime time 609 00:33:08,080 --> 00:33:12,560 Speaker 1: hearing tonight. Mario Drage resigns as Italy's Prime Minister, throwing 610 00:33:12,600 --> 00:33:16,240 Speaker 1: that country into turmoil. And Russia's biggest pipeline to Europe. 611 00:33:16,320 --> 00:33:20,760 Speaker 1: Nord Stream one has restarted. Sports. Major League Baseball returns 612 00:33:20,840 --> 00:33:24,080 Speaker 1: to action tonight after the All Star Break Global There's 613 00:33:24,080 --> 00:33:26,440 Speaker 1: twenty four hours a day on Aerona Bloomberg Quick Take. 614 00:33:26,720 --> 00:33:29,360 Speaker 1: We're powered by more than twenty seven hundred journalists and 615 00:33:29,400 --> 00:33:32,720 Speaker 1: analysts and more than one twenty countries. I'm John Tucker. 616 00:33:32,840 --> 00:33:35,760 Speaker 1: This is Bloomberg. Karen all right, John, thank you. It 617 00:33:35,880 --> 00:33:38,080 Speaker 1: is sixty eight on Wall Street returned to news and 618 00:33:38,160 --> 00:33:40,840 Speaker 1: Science and Technology Now with the Bloomberg and J I. T. 619 00:33:41,000 --> 00:33:44,000 Speaker 1: Stemm report. It is that brought to you by New 620 00:33:44,080 --> 00:33:47,840 Speaker 1: Jersey Institute of Technology, ranked top fifty national public university 621 00:33:47,920 --> 00:33:50,720 Speaker 1: by US News and World Report and number fourteen in 622 00:33:50,760 --> 00:33:53,280 Speaker 1: the nation on Money's Best Colleges List. Learn more at 623 00:33:53,360 --> 00:33:55,600 Speaker 1: n J I T DOT E d U and here's 624 00:33:55,640 --> 00:33:59,040 Speaker 1: just making news. In science, Technology, engineering, and math. Tesla 625 00:33:59,160 --> 00:34:00,960 Speaker 1: has sold a significant and chunk of its steak and 626 00:34:01,040 --> 00:34:03,720 Speaker 1: bitcoin the electric car makers one and a half billion 627 00:34:03,760 --> 00:34:07,160 Speaker 1: dollar investment in the cryptocurrency last year helped legitimize it, 628 00:34:07,600 --> 00:34:10,560 Speaker 1: and a shareholder letter out Wednesday, Tesla said it has 629 00:34:10,640 --> 00:34:15,080 Speaker 1: converted roughly sevent its bitcoin into fiat currency. A bitcoin 630 00:34:15,200 --> 00:34:19,720 Speaker 1: impairment hurt second quarter profit. China has find ride hailing 631 00:34:19,800 --> 00:34:23,360 Speaker 1: giant d D Global more than one point two billion dollars. 632 00:34:23,640 --> 00:34:27,239 Speaker 1: That wraps up a year long investigation that symbolized Beijing's 633 00:34:27,320 --> 00:34:31,279 Speaker 1: tough campaign to rain in its powerful internet industry. Last year, 634 00:34:31,360 --> 00:34:33,000 Speaker 1: d D pushed ahead with an i p O in 635 00:34:33,040 --> 00:34:36,720 Speaker 1: the US against the government's wishes, and on the fifty 636 00:34:36,800 --> 00:34:40,320 Speaker 1: three anniversary of the Apollo eleven lunar landing, NASA announced 637 00:34:40,480 --> 00:34:43,000 Speaker 1: yesterday it's shooting for a late August launch of its 638 00:34:43,120 --> 00:34:46,759 Speaker 1: giant new Moon rocket. NASA will attempt the more than 639 00:34:46,880 --> 00:34:50,960 Speaker 1: month long lunar test flight with three mannequins but no astronauts. 640 00:34:51,280 --> 00:34:54,320 Speaker 1: The thirty story is Space launch System rocket and attached 641 00:34:54,360 --> 00:34:57,120 Speaker 1: to Ryan capsule are currently in the hangar at Kennedy 642 00:34:57,239 --> 00:35:00,359 Speaker 1: Space Center following repairs stemming from last month out down 643 00:35:00,440 --> 00:35:03,000 Speaker 1: test and as of Bloomberg and j I t stem 644 00:35:03,120 --> 00:35:07,200 Speaker 1: report Nathan small step for mannequins. All right, Karen, thank you, 645 00:35:07,440 --> 00:35:09,520 Speaker 1: six fifty on Wall Street. We're live from the Bloomberg 646 00:35:09,520 --> 00:35:12,279 Speaker 1: Interactive Broker Studios. Time now to check what's going on 647 00:35:12,320 --> 00:35:14,200 Speaker 1: in d C. Some of the top stories in our 648 00:35:14,280 --> 00:35:17,320 Speaker 1: nation's capital include President Biden seeing a call with China's 649 00:35:17,360 --> 00:35:19,840 Speaker 1: Chi Jin Ping in the next ten days, the President 650 00:35:19,920 --> 00:35:22,640 Speaker 1: to propose a new policing plan with worries about crime 651 00:35:22,760 --> 00:35:25,440 Speaker 1: on the rise, and Democrats making new bids to ban 652 00:35:25,480 --> 00:35:29,719 Speaker 1: assault weapons, support same sex marriage, and today decriminalized marijuana. 653 00:35:30,280 --> 00:35:33,279 Speaker 1: Also making news, the final prime time hearing set for 654 00:35:33,320 --> 00:35:35,640 Speaker 1: the House January six committee. Let's get a preview now 655 00:35:35,920 --> 00:35:39,320 Speaker 1: from Bloomberg Government congressional reporter Jack Fitzpatrick and Jack I 656 00:35:39,400 --> 00:35:41,279 Speaker 1: suspect the number we are going to hear a lot 657 00:35:41,400 --> 00:35:46,000 Speaker 1: tonight from the January six committee is seven. Yes, that 658 00:35:46,200 --> 00:35:49,920 Speaker 1: is the number of minutes of inaction that they are 659 00:35:50,040 --> 00:35:53,800 Speaker 1: highlighting from Donald Trump at the time. Uh, they'll be 660 00:35:54,040 --> 00:35:57,959 Speaker 1: sort of zeroing in on what he didn't do to help, 661 00:35:58,600 --> 00:36:02,320 Speaker 1: including the long delay before you put out a video 662 00:36:02,520 --> 00:36:06,120 Speaker 1: message asking people to go home. So this will be 663 00:36:06,880 --> 00:36:11,719 Speaker 1: hearing very focused on Trump's in action or some actions, 664 00:36:11,880 --> 00:36:15,400 Speaker 1: and why the committee feels that he was derelict of 665 00:36:15,560 --> 00:36:18,800 Speaker 1: duty on January six, the and and really zeroing in 666 00:36:19,239 --> 00:36:22,960 Speaker 1: on the primary character they're focused on rather than the 667 00:36:23,080 --> 00:36:27,280 Speaker 1: peripheral people. They have two Trump aids who were will testify, 668 00:36:27,520 --> 00:36:30,880 Speaker 1: and as we've seen in other hearings, a lot of 669 00:36:31,040 --> 00:36:34,000 Speaker 1: videos from the interviews they've done with others. Now, the 670 00:36:34,160 --> 00:36:37,400 Speaker 1: committee up to now had sort of telegraph that this 671 00:36:37,520 --> 00:36:40,439 Speaker 1: was going to be a culmination, this final prime time hearing, 672 00:36:40,600 --> 00:36:43,800 Speaker 1: but there's still investigating, right, I mean they're still getting 673 00:36:43,840 --> 00:36:47,520 Speaker 1: information coming in. Yeah, it's less clear exactly how the 674 00:36:47,680 --> 00:36:51,320 Speaker 1: committee is going to wrap things up. Now. There's potential 675 00:36:51,400 --> 00:36:54,520 Speaker 1: for more hearings there, they could continue talking to people. 676 00:36:54,640 --> 00:37:00,640 Speaker 1: There's the outstanding questions of the missing Secret Service text messages. Um, 677 00:37:01,080 --> 00:37:04,560 Speaker 1: it's just Over the course of the last couple hearings, 678 00:37:04,680 --> 00:37:08,880 Speaker 1: there's been enough news, uh to sort of motivate the 679 00:37:09,000 --> 00:37:11,560 Speaker 1: thought that they could continue this. How they wrap it 680 00:37:11,680 --> 00:37:14,080 Speaker 1: up exactly is not clear. They still plan to do 681 00:37:14,160 --> 00:37:16,560 Speaker 1: a report in September, but that's more likely to be 682 00:37:16,680 --> 00:37:19,640 Speaker 1: an interim report than a final report. And we don't 683 00:37:19,680 --> 00:37:23,440 Speaker 1: know exactly when to expect any criminal referrals going to 684 00:37:23,520 --> 00:37:26,480 Speaker 1: the Justice Department, which really would be that would be 685 00:37:26,600 --> 00:37:30,560 Speaker 1: the biggest culmination of all of this, But there's not 686 00:37:30,680 --> 00:37:33,239 Speaker 1: really a timeline for this to be wrapped up just yet. 687 00:37:33,560 --> 00:37:36,600 Speaker 1: All Right, Well, we'll see how this final primetime hearing goes. 688 00:37:36,600 --> 00:37:38,640 Speaker 1: At least to this trunch. We'll have live coverage for 689 00:37:38,719 --> 00:37:41,600 Speaker 1: you this evening starting APM. Wall Street Time right here 690 00:37:41,680 --> 00:37:45,480 Speaker 1: on Boomberg Radio. In the meantime, Jack, President Biden's back 691 00:37:45,520 --> 00:37:48,879 Speaker 1: from that climate announcement in Massachusetts and making some news 692 00:37:49,080 --> 00:37:53,320 Speaker 1: about his plans to have a conversation once again with 693 00:37:53,480 --> 00:37:57,759 Speaker 1: the president of China. Yeah. President Biden said he expects 694 00:37:57,840 --> 00:38:01,799 Speaker 1: to speak with Shijin Ping in the next day, next 695 00:38:01,880 --> 00:38:05,520 Speaker 1: ten days. Uh. So, it raised a lot of questions 696 00:38:05,560 --> 00:38:10,320 Speaker 1: about one China hasn't the Chinese government hasn't confirmed that 697 00:38:10,520 --> 00:38:13,440 Speaker 1: it's not on the schedule yet, but it's obviously a 698 00:38:13,560 --> 00:38:18,920 Speaker 1: major bilateral relationship. It it raises questions about Trump tariffs 699 00:38:19,080 --> 00:38:21,520 Speaker 1: and if the Trump administration and tariffs are going to 700 00:38:21,560 --> 00:38:23,560 Speaker 1: be eased off at all, or if there will be 701 00:38:23,600 --> 00:38:27,000 Speaker 1: a conversation about that given the inflation numbers that we've 702 00:38:27,080 --> 00:38:29,960 Speaker 1: seen in the pressure that tariffs can create. Uh, the 703 00:38:30,280 --> 00:38:34,960 Speaker 1: the relationship with Russia and frustration that China didn't join 704 00:38:35,080 --> 00:38:38,719 Speaker 1: other countries in UH in pressuring Russia due to their 705 00:38:39,000 --> 00:38:42,560 Speaker 1: invasion of Ukraine. UH, climate is a major one. Uh. 706 00:38:42,719 --> 00:38:46,239 Speaker 1: We haven't gotten confirmation of, you know, the timing or 707 00:38:46,600 --> 00:38:49,240 Speaker 1: exactly what the agenda is, but the fact that President 708 00:38:49,280 --> 00:38:51,759 Speaker 1: Biden himself says he expects this call to happen is 709 00:38:51,880 --> 00:38:55,440 Speaker 1: very significant. Yeah. And even if tariffs don't necessarily come 710 00:38:55,520 --> 00:38:58,120 Speaker 1: up directly, Jack, I mean, there are, as you allude to, 711 00:38:58,280 --> 00:39:01,320 Speaker 1: a lot of pressure point between the US and China, 712 00:39:01,360 --> 00:39:04,920 Speaker 1: particularly with these reports that how Speaker Nancy Pelosi might 713 00:39:04,920 --> 00:39:08,040 Speaker 1: be thinking of going to Taiwan next month. Yes. Uh, 714 00:39:08,200 --> 00:39:11,360 Speaker 1: that actually was planned even earlier in the spring, and 715 00:39:11,440 --> 00:39:14,040 Speaker 1: Pelosi got COVID and that put it off. Biden just 716 00:39:14,120 --> 00:39:17,120 Speaker 1: said yesterday that the US military doesn't think that's a 717 00:39:17,200 --> 00:39:20,040 Speaker 1: good idea to do that. UH. For for Pelosi to 718 00:39:20,080 --> 00:39:22,720 Speaker 1: make that trip to Taiwan should be the highest ranking 719 00:39:23,160 --> 00:39:25,719 Speaker 1: UH member of the US government to visit Taiwan in 720 00:39:26,000 --> 00:39:30,480 Speaker 1: many years. UH. It's interesting to see that divide with 721 00:39:30,800 --> 00:39:35,640 Speaker 1: Biden acknowledging that there is some pushback to Pelosi's plans, 722 00:39:35,719 --> 00:39:38,800 Speaker 1: but he he didn't say he is actively lobbying against 723 00:39:38,880 --> 00:39:42,280 Speaker 1: it from happening. UH. So that that would be clearly 724 00:39:42,360 --> 00:39:47,360 Speaker 1: the biggest August Recess Codel congressional delegation visit of the 725 00:39:47,480 --> 00:39:50,080 Speaker 1: year for sure if it happens. Now we know President 726 00:39:50,160 --> 00:39:53,480 Speaker 1: Biden has another trip on his schedule today. This one, 727 00:39:53,840 --> 00:39:57,600 Speaker 1: I guess is focused on crime fighting initiative. Yes, he's 728 00:39:57,640 --> 00:40:01,840 Speaker 1: going to wilkes Bury, Pennsylvania. He's got uh an outline 729 00:40:01,880 --> 00:40:04,600 Speaker 1: that the White House put out this morning calling essentially 730 00:40:04,680 --> 00:40:08,759 Speaker 1: for a thirty five billion dollars Safer America plan in 731 00:40:08,840 --> 00:40:12,279 Speaker 1: addition to two billion dollars he's requested through the normal 732 00:40:12,400 --> 00:40:15,239 Speaker 1: funding process. UH. There are a few things in there. One, 733 00:40:15,640 --> 00:40:18,080 Speaker 1: there's he wants to start a fifteen billion dollar grant 734 00:40:18,480 --> 00:40:22,200 Speaker 1: program to hire and train a hundred thousand police officers. 735 00:40:22,400 --> 00:40:24,759 Speaker 1: He's gonna be talking about that kind of thing, UH 736 00:40:24,920 --> 00:40:28,160 Speaker 1: in Wilkes Barre, which is actually represented by Matt Cartwright, 737 00:40:28,480 --> 00:40:32,360 Speaker 1: UH Democrat in the House, who faces a competitive reelection campaign, 738 00:40:32,400 --> 00:40:34,600 Speaker 1: who's also in charge of the subcommittee for funding the 739 00:40:34,680 --> 00:40:39,120 Speaker 1: Justice Department and police grants. So clearly a bit of 740 00:40:39,160 --> 00:40:43,160 Speaker 1: a response from the White House to UH public frustration 741 00:40:43,560 --> 00:40:49,239 Speaker 1: with crime and dissatisfaction with the Biden administration's response to it. UH. 742 00:40:49,400 --> 00:40:52,360 Speaker 1: This is not a piece of legislation with a glide 743 00:40:52,440 --> 00:40:55,520 Speaker 1: path forward, but it shows the President feels the need 744 00:40:55,600 --> 00:40:58,720 Speaker 1: to respond to some of that dissatisfaction with more plans 745 00:40:59,160 --> 00:41:02,600 Speaker 1: UH in support of police. In our last minute here, Jack, 746 00:41:02,680 --> 00:41:04,800 Speaker 1: there's been so much focus on Capitol Hill on the 747 00:41:05,040 --> 00:41:07,760 Speaker 1: negotiations over an economic package, but all of a sudden, 748 00:41:07,800 --> 00:41:10,560 Speaker 1: it seems like Democrats are spinning a lot of plates 749 00:41:10,640 --> 00:41:13,560 Speaker 1: now with an assault weapons ban moving forward, a gay 750 00:41:13,680 --> 00:41:19,480 Speaker 1: marriage bill, and now this morning, a bill to decriminalize marijuana. Yeah, 751 00:41:19,840 --> 00:41:21,960 Speaker 1: quite a few things that they're trying to fit in 752 00:41:22,239 --> 00:41:26,400 Speaker 1: before heading out in UH it early August for about 753 00:41:26,440 --> 00:41:30,640 Speaker 1: a month long recess on the UH markup of the 754 00:41:30,760 --> 00:41:33,440 Speaker 1: assault band weapon one that is something that the President 755 00:41:33,520 --> 00:41:36,920 Speaker 1: might get into today. The Judiciary Committee got that out 756 00:41:37,000 --> 00:41:40,320 Speaker 1: of committee. It's something very difficult, uh, to get on 757 00:41:40,440 --> 00:41:42,880 Speaker 1: the floor with the very narrow margin that Democrats have 758 00:41:43,000 --> 00:41:46,080 Speaker 1: on the House floor. Uh. Interesting that to see them 759 00:41:46,120 --> 00:41:48,160 Speaker 1: push that, but they may not end up having enough 760 00:41:48,239 --> 00:41:50,960 Speaker 1: votes to pass it on the House, let alone the Senate. Uh. 761 00:41:51,120 --> 00:41:54,759 Speaker 1: The gay marriage one may potentially get sixty votes in 762 00:41:54,840 --> 00:41:58,120 Speaker 1: the Senate. We're still amid a whip count to see 763 00:41:58,160 --> 00:42:00,799 Speaker 1: if they can get ten Republicans to joining in. Uh. 764 00:42:00,920 --> 00:42:05,040 Speaker 1: It's possible that that could get the requisite sixty votes. Uh. 765 00:42:05,400 --> 00:42:08,680 Speaker 1: Probably a better chance of that than the assault assault 766 00:42:08,760 --> 00:42:12,640 Speaker 1: weapon ban Alright. Bloomberg Government Congressional reporter Jack Fitzpatrick with 767 00:42:12,760 --> 00:42:16,560 Speaker 1: us this morning from our Bloomberg studios in Washington, d C. 768 00:42:16,719 --> 00:42:19,360 Speaker 1: Where you can listen to Bloomberg Radio in the nation's capital. 769 00:42:19,719 --> 00:42:21,200 Speaker 1: And of course you can find more on all these 770 00:42:21,239 --> 00:42:23,840 Speaker 1: stories we've been talking about on Bloomberg dot Com or 771 00:42:23,960 --> 00:42:27,279 Speaker 1: on the Bloomberg terminal. SMP Future is now down six 772 00:42:27,360 --> 00:42:29,960 Speaker 1: points down. Future is down eighty four NASDACK Future is 773 00:42:30,040 --> 00:42:33,680 Speaker 1: a touch higher, up six points now. Tenure Treasury is 774 00:42:33,719 --> 00:42:37,080 Speaker 1: down to thirty seconds, yield three point zero three percent, 775 00:42:37,239 --> 00:42:39,520 Speaker 1: and the yield on the two year right now three 776 00:42:39,600 --> 00:42:43,200 Speaker 1: point to two percent. Bloomberg Surveillance is next, with Tom Keene, 777 00:42:43,280 --> 00:42:46,760 Speaker 1: Jonathan Faraoll Kayley lines in for Lisa Abramowitz for Karen Moscow. 778 00:42:46,920 --> 00:42:48,920 Speaker 1: I'm Nathan Hager. This is Bloomberg.