1 00:00:01,520 --> 00:00:04,920 Speaker 1: Bye from the Bloomberg Interacted Burger Studios. This is Bloomberg 2 00:00:04,960 --> 00:00:08,840 Speaker 1: Daybreak for Thursday, August eighteen two. Coming up this tower, 3 00:00:09,119 --> 00:00:12,520 Speaker 1: the US in Taiwan begin formal trade negotiations in a 4 00:00:12,560 --> 00:00:15,440 Speaker 1: blow to China stocks pull back is The FED considers 5 00:00:15,440 --> 00:00:18,160 Speaker 1: the pace of rate he apples, sets a target day 6 00:00:18,200 --> 00:00:21,439 Speaker 1: for its next iPhone release, and adhering today to determine 7 00:00:21,480 --> 00:00:25,360 Speaker 1: whether to unseal the FBI's Mara Lago affidavit. The war 8 00:00:25,440 --> 00:00:29,080 Speaker 1: of words continues between New York Mayor Adams and Texas 9 00:00:29,080 --> 00:00:32,800 Speaker 1: Governor Rabbitt. Plus the CDC wants to hit the reset button. 10 00:00:33,240 --> 00:00:37,080 Speaker 1: Michael blar More Ahead, I'm John Stashdown spots dramatic win 11 00:00:37,200 --> 00:00:39,160 Speaker 1: for the Yankees. They beat the Rays on a tenth 12 00:00:39,200 --> 00:00:42,240 Speaker 1: inning grand slamb the metfield on to win in Atlanta. 13 00:00:44,440 --> 00:00:48,400 Speaker 1: That's all's training. Ahead on Bloomberg day Break on Bloomberg eleven, 14 00:00:48,440 --> 00:00:52,960 Speaker 1: Free on New York, Bloomberg one, Washington, d C, Bloomberg 15 00:00:52,960 --> 00:00:56,640 Speaker 1: one oh six one, Boston, Bloomberg nine sixty, San Francisco, 16 00:00:57,160 --> 00:01:00,160 Speaker 1: Sirius x M one nineteen and around the world on 17 00:01:00,360 --> 00:01:03,640 Speaker 1: Bloomberg Radio dot com and via the Bloomberg Business app. 18 00:01:07,680 --> 00:01:10,480 Speaker 1: Good morning. I'm John Tucker and I'm Karen. Moscow and 19 00:01:10,640 --> 00:01:14,000 Speaker 1: US Dock index futures are moving higher. It is six 20 00:01:14,000 --> 00:01:15,880 Speaker 1: oh one on Wall Street. We checked the markets every 21 00:01:15,880 --> 00:01:18,960 Speaker 1: fifteen minutes throughout the trading day. On Bloomberg, again, futures 22 00:01:18,959 --> 00:01:21,840 Speaker 1: have erased their losses. The SNP future is now up 23 00:01:21,840 --> 00:01:25,120 Speaker 1: six points in OWN futures up thirty seven, nasdack futures 24 00:01:25,160 --> 00:01:27,520 Speaker 1: up twenty two. The decks in Germany's up eight tens 25 00:01:27,520 --> 00:01:30,480 Speaker 1: of a percent. Ten your treasury of five thirty seconds, 26 00:01:30,480 --> 00:01:32,920 Speaker 1: heal two point eight seven percent yield on the two 27 00:01:33,000 --> 00:01:36,800 Speaker 1: year three point to seven percent. John and US futures 28 00:01:36,840 --> 00:01:40,600 Speaker 1: are higher this morning. Karen minutes from the Fed help 29 00:01:40,680 --> 00:01:44,800 Speaker 1: boosting centiment. Traders found some dovish elements from the Central banks. 30 00:01:44,920 --> 00:01:48,760 Speaker 1: July and meeting. Lauren Gilbert's CEO of Wealthwise Financial says 31 00:01:48,840 --> 00:01:53,560 Speaker 1: there's uncertainly but still a chance for solid returns information 32 00:01:53,640 --> 00:01:58,640 Speaker 1: technology services. We see that as an opportunity because unlike 33 00:01:58,720 --> 00:02:02,720 Speaker 1: goods that have had the pricing pressures, with good prices 34 00:02:02,760 --> 00:02:05,880 Speaker 1: continue to go up while you have wage pressure as well. 35 00:02:05,920 --> 00:02:09,400 Speaker 1: In services, you don't have the cost goods issue. Lauren 36 00:02:09,440 --> 00:02:13,320 Speaker 1: Gilbert with Wealthwise as technically indicator show markets could sustain 37 00:02:13,360 --> 00:02:16,119 Speaker 1: a bull run in the months ahead. When it comes 38 00:02:16,120 --> 00:02:18,600 Speaker 1: to the Fed minutes, John wall Street focused on Central 39 00:02:18,600 --> 00:02:21,720 Speaker 1: Bank officials discussing the need to eventually dial back the 40 00:02:21,720 --> 00:02:25,280 Speaker 1: pace of interest rate hikes. Eric Lund, principal economists with 41 00:02:25,320 --> 00:02:28,079 Speaker 1: the Conference Board, said, the important takeaway is that the 42 00:02:28,120 --> 00:02:31,000 Speaker 1: Fed will remain a data dependent in its approach. We 43 00:02:31,080 --> 00:02:33,399 Speaker 1: all kind of figured they're going to at some point 44 00:02:33,400 --> 00:02:35,720 Speaker 1: half to dial back the pace of the increases. It 45 00:02:35,880 --> 00:02:38,880 Speaker 1: matter at what rate and when. So with the next 46 00:02:38,919 --> 00:02:41,360 Speaker 1: meeting a little over a month off, we still have 47 00:02:41,480 --> 00:02:43,120 Speaker 1: a quite a bit of data points that are going 48 00:02:43,200 --> 00:02:44,720 Speaker 1: to be coming out, and it's been known and they're 49 00:02:44,720 --> 00:02:47,120 Speaker 1: we're gonna have to watch. Eric Lund with the Conference 50 00:02:47,160 --> 00:02:50,160 Speaker 1: Board says if inflation continues to fall, the Fed will 51 00:02:50,200 --> 00:02:53,000 Speaker 1: be well positioned to ease rate hikes, and Karen, we're 52 00:02:53,000 --> 00:02:55,280 Speaker 1: also going to be watching for more economic data. It's 53 00:02:55,280 --> 00:02:58,640 Speaker 1: a thirty Well Street time the Labor Department releases fully. 54 00:02:58,720 --> 00:03:01,760 Speaker 1: This figures on jobless games economy was predicted new hime 55 00:03:01,840 --> 00:03:05,040 Speaker 1: for the year, with claims rising to two hundred sixty 56 00:03:05,120 --> 00:03:08,200 Speaker 1: four thousand. We're also going to get existing home sales 57 00:03:08,240 --> 00:03:10,880 Speaker 1: for the month of July. The National Association of Realtors, 58 00:03:11,200 --> 00:03:14,679 Speaker 1: it's going to release those figures at ten Turning overseas 59 00:03:14,680 --> 00:03:17,600 Speaker 1: now John Stocks in Asia fell overnight as further downgrades 60 00:03:17,639 --> 00:03:21,480 Speaker 1: to China's growth outlooks sour and sentiment. Bloomberg's Juliett Sally 61 00:03:21,600 --> 00:03:24,119 Speaker 1: joins US from Singapore with the latest Good Morning Juliette, 62 00:03:24,280 --> 00:03:27,040 Speaker 1: Good Morning John, and Karen Goldman. Sacks lowered its projection 63 00:03:27,080 --> 00:03:30,280 Speaker 1: for China's GDP to three percent from three point three percent, 64 00:03:30,400 --> 00:03:33,560 Speaker 1: citing weaker than expected July economic data as well as 65 00:03:33,560 --> 00:03:37,240 Speaker 1: new term energy constraints. Noamora slashed their forecast to two 66 00:03:37,240 --> 00:03:40,280 Speaker 1: point eight from three point three percent. The Bloomberg median 67 00:03:40,320 --> 00:03:43,320 Speaker 1: forecast from economists is now at three point nine percent. 68 00:03:43,800 --> 00:03:46,480 Speaker 1: Stokes fell in Japan, China, and Hong Kong, and the 69 00:03:46,480 --> 00:03:49,480 Speaker 1: Aussie was lower for a fourth session after almost forty 70 00:03:49,520 --> 00:03:52,240 Speaker 1: one thousand jobs were lost in the nation last month, 71 00:03:52,520 --> 00:03:56,360 Speaker 1: versus expectations of a twenty five thousand job gain in Singapore. 72 00:03:56,400 --> 00:04:00,400 Speaker 1: Juliette Sally, Bloomberg Deybreak Julia thanks now to geopol takes 73 00:04:00,480 --> 00:04:03,480 Speaker 1: Tensions with China remain front and center. The US and 74 00:04:03,520 --> 00:04:07,680 Speaker 1: Taiwan now are set to start a start formal negotiations 75 00:04:07,680 --> 00:04:11,680 Speaker 1: on a bilateral trade agreement. That story from Bloomberg's and Baxter. 76 00:04:12,240 --> 00:04:14,160 Speaker 1: This is the next step in what has become a 77 00:04:14,280 --> 00:04:17,760 Speaker 1: very heated and very sensitive issue for China. The statement 78 00:04:17,800 --> 00:04:20,800 Speaker 1: says the two have already started formal negotiations, but the 79 00:04:20,839 --> 00:04:23,920 Speaker 1: first sit down round will begin an early fall. They 80 00:04:23,960 --> 00:04:28,040 Speaker 1: say it will cover trade facilitation, regulatory practices, and a 81 00:04:28,120 --> 00:04:32,599 Speaker 1: corruption standards and deepening agriculture trade, among others. The statement 82 00:04:32,640 --> 00:04:36,000 Speaker 1: says it will promote innovation and will deepen the relationship 83 00:04:36,520 --> 00:04:39,520 Speaker 1: in San Francisco. I'm at Baxter Bloomberg Daybreak. All right, 84 00:04:39,720 --> 00:04:42,280 Speaker 1: thank you. Returned to Corporate News Now, where news from 85 00:04:42,360 --> 00:04:45,159 Speaker 1: Apple as front end center. The company is aiming to 86 00:04:45,240 --> 00:04:47,960 Speaker 1: unveil its new iPhone next month, and bloombergs we need 87 00:04:48,040 --> 00:04:50,080 Speaker 1: young joins us Live with the details. We need a 88 00:04:50,120 --> 00:04:53,359 Speaker 1: good morning, Good morning, Karen Bloomberg. Sources say Apple's big 89 00:04:53,360 --> 00:04:56,120 Speaker 1: reveal of the iPhone fourteen is expected to come on 90 00:04:56,240 --> 00:05:00,120 Speaker 1: September seven. The flagship product generates more than half of 91 00:05:00,160 --> 00:05:02,839 Speaker 1: Apples sales, and the update comes at a time when 92 00:05:02,880 --> 00:05:06,760 Speaker 1: smartphone sales more broadly have started to slump, as consumers 93 00:05:06,800 --> 00:05:10,080 Speaker 1: cope with inflation and a shaky economy. The launch kicks 94 00:05:10,080 --> 00:05:12,480 Speaker 1: off with busy fall products season for the tech giant, 95 00:05:12,800 --> 00:05:15,839 Speaker 1: which will include multiple new max low end and high 96 00:05:15,920 --> 00:05:19,520 Speaker 1: end iPads and three Apple Watch models. Live in New York, 97 00:05:19,520 --> 00:05:22,760 Speaker 1: I'm rend a young Bloomberg daybreak needed thanks and sticking 98 00:05:22,760 --> 00:05:25,920 Speaker 1: with corporate news Walmarts see then s Walgreen's theory getting 99 00:05:26,000 --> 00:05:28,920 Speaker 1: hit with a big fine. The pharmacy chains were ordered 100 00:05:28,920 --> 00:05:31,680 Speaker 1: to pay a total of six fifty million dollars over 101 00:05:31,800 --> 00:05:36,320 Speaker 1: failure to properly monitor opioid prescriptions in the state of Ohio. 102 00:05:36,960 --> 00:05:40,200 Speaker 1: It's the drug industry's latest setback in litigation over the 103 00:05:40,240 --> 00:05:43,880 Speaker 1: pain killers Well john and the earnings. Francisco Systems came 104 00:05:43,880 --> 00:05:47,080 Speaker 1: out with results that beat analyst estimate. Shares her up 105 00:05:47,320 --> 00:05:49,560 Speaker 1: almost five per cent in the free market after the 106 00:05:49,640 --> 00:05:53,120 Speaker 1: company gave a bullish forecast again more from Bloomberg Charlie Pellet. 107 00:05:53,400 --> 00:05:56,359 Speaker 1: Cisco is the biggest maker of machines that run the 108 00:05:56,400 --> 00:06:00,160 Speaker 1: Internet and corporate computer networks, had said revenue will grow 109 00:06:00,240 --> 00:06:03,200 Speaker 1: two to four percent in the fiscal first quarter from 110 00:06:03,279 --> 00:06:06,360 Speaker 1: a year earlier. Analysts had predicted that sales will be 111 00:06:06,440 --> 00:06:09,520 Speaker 1: roughly flat from a year ago when revenue was twelve 112 00:06:09,600 --> 00:06:13,960 Speaker 1: point nine billion dollars. For fiscal three, the company expects 113 00:06:13,960 --> 00:06:17,359 Speaker 1: sales to expand as much as six percent. The outlook 114 00:06:17,400 --> 00:06:21,760 Speaker 1: suggests Cisco can weather a shaky economy and tech spending slowdown, 115 00:06:21,960 --> 00:06:25,920 Speaker 1: helped by better access to supply in New York. Charlie 116 00:06:25,960 --> 00:06:28,919 Speaker 1: Pellett Bloomberg Debris alright, thanks, Charlie. Bad Bath and Beyond 117 00:06:29,000 --> 00:06:31,600 Speaker 1: another stock on the move this morning. Shares are down 118 00:06:31,680 --> 00:06:35,560 Speaker 1: right now fourteen percent in the pre market as a 119 00:06:35,560 --> 00:06:40,800 Speaker 1: big investors sours on the stock. Ryan Cohen's RC Adventures says, 120 00:06:40,920 --> 00:06:42,840 Speaker 1: you know filing that it might sell as much as 121 00:06:42,839 --> 00:06:45,920 Speaker 1: seven point seven million shares of Bad Bathroom Beyond r C, 122 00:06:46,279 --> 00:06:50,760 Speaker 1: the retailers second largest shareholder after Black Rock Well. On 123 00:06:50,800 --> 00:06:53,280 Speaker 1: the flip side, John shares at Bluebird Bio are up 124 00:06:53,279 --> 00:06:56,200 Speaker 1: more than thirteen percent in early trading. The company's team 125 00:06:56,279 --> 00:06:59,520 Speaker 1: therapy for a rare blood disorder was cleared by US regulators. 126 00:06:59,640 --> 00:07:02,200 Speaker 1: Blue and said it plans to charge two point eight 127 00:07:02,240 --> 00:07:05,919 Speaker 1: million dollars for the first ever one time treatment and 128 00:07:06,040 --> 00:07:08,599 Speaker 1: coming up today more earning something you docket this morning, 129 00:07:08,880 --> 00:07:11,520 Speaker 1: retail and focus. Once again, we're gonna get results from 130 00:07:11,560 --> 00:07:15,760 Speaker 1: b j's Coles and Steve Lauter. Right now, del Future 131 00:07:15,840 --> 00:07:23,640 Speaker 1: is up sixty nine. You're listening to Blueberg Daybreak and 132 00:07:23,720 --> 00:07:25,800 Speaker 1: it brings us to six or seven at Wall Street 133 00:07:25,920 --> 00:07:27,840 Speaker 1: time to bring in Michael barn to find out what 134 00:07:27,960 --> 00:07:31,000 Speaker 1: else is going on to New York and around the world. John, 135 00:07:31,080 --> 00:07:34,000 Speaker 1: thank you very much. The war of words continues between 136 00:07:34,040 --> 00:07:37,320 Speaker 1: New York Mayor Eric Adams and Texas Governor Greg Abbott, 137 00:07:37,600 --> 00:07:40,920 Speaker 1: with the Texas governor is doing it's just so anti American. 138 00:07:41,240 --> 00:07:44,400 Speaker 1: Mayor Adams has four more bus loads of migrants who 139 00:07:44,440 --> 00:07:47,120 Speaker 1: had crossed the border into Texas arrived in New York 140 00:07:47,160 --> 00:07:50,760 Speaker 1: City yesterday. Abbott says he has been sending migrants to 141 00:07:50,840 --> 00:07:54,200 Speaker 1: New York and Washington, d C. To ease pressure on 142 00:07:54,240 --> 00:07:57,840 Speaker 1: the state, blaming the Biden administration for the crisis. Mayor 143 00:07:57,880 --> 00:08:00,520 Speaker 1: Adams said, Governor Rabbit is using, to my grins, ask 144 00:08:00,560 --> 00:08:05,080 Speaker 1: political pawns to strike out against democratic run cities. Those 145 00:08:05,080 --> 00:08:09,200 Speaker 1: buses are leave in Texas and passing through the states 146 00:08:09,480 --> 00:08:12,600 Speaker 1: and of the cities, how about speaking to those mayors 147 00:08:12,600 --> 00:08:17,080 Speaker 1: of course, those cities and other governors state how do 148 00:08:17,200 --> 00:08:21,440 Speaker 1: we do this together? Governor Rabbit responded, to Adams, calling 149 00:08:21,520 --> 00:08:25,080 Speaker 1: him a hypocrite. Why he's ever complaining for one moment 150 00:08:25,480 --> 00:08:29,400 Speaker 1: about these people being busted into a city goes against 151 00:08:29,840 --> 00:08:33,840 Speaker 1: his own self declaration of being a sanctuary city. Governor 152 00:08:33,880 --> 00:08:38,520 Speaker 1: Rabbit and Mayor Adams appeared on ABC's Nightline. Donald Trump's 153 00:08:38,600 --> 00:08:42,959 Speaker 1: CFO is expected to plead guilty today to tax violations 154 00:08:42,960 --> 00:08:45,760 Speaker 1: in a deal that would require him to testify about 155 00:08:45,840 --> 00:08:50,319 Speaker 1: business practices at the former president's company. Alan Weisselberg, is 156 00:08:50,400 --> 00:08:53,280 Speaker 1: charged with taking more than one point seven million dollars 157 00:08:53,280 --> 00:08:58,440 Speaker 1: an untaxed compensation from the Trump organization. Rudy Giuliani says 158 00:08:58,480 --> 00:09:01,760 Speaker 1: he has satisfied his obli ation after facing hours of 159 00:09:01,840 --> 00:09:05,680 Speaker 1: questioning before special grand jury in Atlanta. His appearance was 160 00:09:05,760 --> 00:09:09,600 Speaker 1: part of an investigation into attempts by former President Donald 161 00:09:09,640 --> 00:09:13,560 Speaker 1: Trump and others to overturn his twenty election defeat in Georgia. 162 00:09:14,040 --> 00:09:16,960 Speaker 1: The CDC director is planning a major overhaul of the 163 00:09:17,040 --> 00:09:21,679 Speaker 1: agency after an internal review acknowledge missteps in its response 164 00:09:21,840 --> 00:09:26,000 Speaker 1: to the COVID nineteen pandemic. Dr Rochelle Willinski, who ordered 165 00:09:26,040 --> 00:09:28,880 Speaker 1: the internal review, is calling for a recept. We were 166 00:09:29,000 --> 00:09:32,680 Speaker 1: operating with a frail public health infrastructure. Nationally, and we 167 00:09:32,760 --> 00:09:35,400 Speaker 1: made some pretty public mistakes and we need to own them. 168 00:09:35,679 --> 00:09:39,320 Speaker 1: Dr Wilinsky says the agency review found the CDC's COVID 169 00:09:39,360 --> 00:09:44,199 Speaker 1: guidelines on masks, vaccines, and more have been confusing and overwhelming, 170 00:09:44,280 --> 00:09:48,280 Speaker 1: echoing public criticism globally twenty four hours a day on 171 00:09:48,360 --> 00:09:51,720 Speaker 1: air and on Bloomberg Quicktake, powered by more than twenty 172 00:09:51,800 --> 00:09:54,640 Speaker 1: seven hundred journalist and analysts more than a hundred twenty countries. 173 00:09:55,040 --> 00:10:02,200 Speaker 1: Michael Barr and this is Bloomberg Jump Michael, Thank you man. 174 00:10:02,280 --> 00:10:04,520 Speaker 1: That brings us to six ten of Wall Street time 175 00:10:04,559 --> 00:10:07,800 Speaker 1: down for the Bloomberg Sports Update to Morning John Stancheward 176 00:10:07,840 --> 00:10:10,040 Speaker 1: AFOD Morning John. Mets and Yankees had both lost the 177 00:10:10,120 --> 00:10:12,480 Speaker 1: last two nights. Both teams last night to sit through 178 00:10:12,480 --> 00:10:15,200 Speaker 1: a rain delay. Both teams gave up seven runs and 179 00:10:15,240 --> 00:10:19,200 Speaker 1: still one, and both debuted brand new rookie third baseman. 180 00:10:19,240 --> 00:10:21,320 Speaker 1: For the Mets, it was twenty two year old Brett Batty. 181 00:10:21,360 --> 00:10:23,440 Speaker 1: He was their first round draft pick in two thousand nineteen. 182 00:10:23,440 --> 00:10:25,520 Speaker 1: He's been tearing it up in the minors and what 183 00:10:25,679 --> 00:10:28,839 Speaker 1: a start to his big league career. High in the 184 00:10:28,920 --> 00:10:31,559 Speaker 1: here the light feel pretty deep. Back to Cecoonia at 185 00:10:31,559 --> 00:10:35,839 Speaker 1: the track at the wall is gone. Brett Batty, with 186 00:10:36,040 --> 00:10:39,720 Speaker 1: his first major league swing, hits a whole run off 187 00:10:39,720 --> 00:10:42,600 Speaker 1: the top of the six team foot high wall in 188 00:10:42,800 --> 00:10:46,640 Speaker 1: right field. He salutes his parents on his way around 189 00:10:46,720 --> 00:10:50,679 Speaker 1: third base. This kid is living the dream w CBS. 190 00:10:50,720 --> 00:10:52,959 Speaker 1: Mets also got two on runs with Sterling Marte. They 191 00:10:53,040 --> 00:10:55,559 Speaker 1: let Atlanta six to one, nine to five of the 192 00:10:55,640 --> 00:10:57,559 Speaker 1: ninth inning. They held on beat the Braves nine to 193 00:10:57,720 --> 00:10:59,880 Speaker 1: seven to go back up by four and a half games. 194 00:10:59,880 --> 00:11:02,679 Speaker 1: In Jacob de Graham pitchers. Tonight, Yankees, of course, in 195 00:11:02,760 --> 00:11:05,319 Speaker 1: a deep slump, called up twenty three year old as 196 00:11:05,320 --> 00:11:07,640 Speaker 1: Waldo Cabrere. He went over four in his first game. 197 00:11:07,880 --> 00:11:10,720 Speaker 1: Certainly looked like the Yanks are gonna lose yet again. 198 00:11:10,880 --> 00:11:13,480 Speaker 1: They trailed Tampa Bay four to nothing. They did catch 199 00:11:13,559 --> 00:11:16,040 Speaker 1: up on home runs by Glaver Torres and Anthony Rizzo, 200 00:11:16,080 --> 00:11:20,000 Speaker 1: but then they fell behind again. The raised Francisco Mehia 201 00:11:20,240 --> 00:11:22,760 Speaker 1: three run double with two out in the tenth up 202 00:11:22,800 --> 00:11:26,040 Speaker 1: our oldest Chapman and it was seven four. Bottom of 203 00:11:26,080 --> 00:11:29,960 Speaker 1: the tenth, Josh Donaldson hit a came winning opposite field 204 00:11:30,040 --> 00:11:33,280 Speaker 1: walk off grand slam Yanks one eight seven. The upcoming 205 00:11:33,400 --> 00:11:35,240 Speaker 1: US Open, It's gonna be dominating at least early on 206 00:11:35,320 --> 00:11:38,560 Speaker 1: by it being Serena Williams last tournament. Her sister Venus 207 00:11:38,880 --> 00:11:41,200 Speaker 1: has won the Open over twenty years ago, as excepted 208 00:11:41,240 --> 00:11:44,440 Speaker 1: a wild card spot. Johns dash, We're Bloomberg Sports, don't 209 00:11:44,520 --> 00:11:46,480 Speaker 1: all right? John Texas a lot ahead of the Open. 210 00:11:46,520 --> 00:11:49,280 Speaker 1: On Wall Street, futures right now are in the green. 211 00:11:49,320 --> 00:11:52,360 Speaker 1: The down futures of fifty one points. That's up about 212 00:11:52,360 --> 00:11:55,559 Speaker 1: two tenths per cent. He has somepe many futures of 213 00:11:55,880 --> 00:11:59,200 Speaker 1: eight points and the nansday futures twenty two points higher. 214 00:11:59,720 --> 00:12:07,960 Speaker 1: You're listening to Bloomberg day Break and just ahead the 215 00:12:08,000 --> 00:12:11,439 Speaker 1: Fed minutes were they devish. We're gonna speak with Jennifer Lee, 216 00:12:11,559 --> 00:12:16,600 Speaker 1: senior economists at Bemal Capital Markets. This is Bloomberg day Break, 217 00:12:22,080 --> 00:12:25,480 Speaker 1: Markets headlines and breaking news twenty four hours a day, 218 00:12:25,600 --> 00:12:28,600 Speaker 1: at Bloomberg dot Com, the Bloomberg Business Out and at 219 00:12:28,600 --> 00:12:38,960 Speaker 1: Bloomberg Victape. She's a Bloomberg Business Flash and I'm Karin Moscow. 220 00:12:39,160 --> 00:12:42,160 Speaker 1: US Dock index futures have reversed losses in a volatile 221 00:12:42,240 --> 00:12:45,200 Speaker 1: session after the Federal Reserve signal the Delicate Balancing Act 222 00:12:45,200 --> 00:12:48,319 Speaker 1: I would see inflation busting rate hikes. Continued despite a 223 00:12:48,360 --> 00:12:51,520 Speaker 1: weekending economy. We checked the markets every fifteen minutes throughout 224 00:12:51,520 --> 00:12:54,079 Speaker 1: the trading day. On Bloomberg A S and P future 225 00:12:54,160 --> 00:12:56,240 Speaker 1: is up five points this morning, down Future is up 226 00:12:56,240 --> 00:12:59,079 Speaker 1: thirty two and as day futures up twelve. The decks 227 00:12:59,080 --> 00:13:01,600 Speaker 1: in Germany's up eight tense of upper set ten. Your 228 00:13:01,640 --> 00:13:04,679 Speaker 1: treasury up four thirty seconds, yield two point eight eight percent. 229 00:13:04,720 --> 00:13:07,079 Speaker 1: They yield on the two year three point to eight percent. 230 00:13:07,559 --> 00:13:09,680 Speaker 1: NIMEX s crude oil is up one point one percent 231 00:13:09,760 --> 00:13:12,000 Speaker 1: of ninety eight cents at eighty nine dollars nine cents 232 00:13:12,000 --> 00:13:14,599 Speaker 1: of barrel comic schoold is at four tens percent or 233 00:13:14,640 --> 00:13:17,559 Speaker 1: seven dollars ten cents a seventeen eighty three eight n ounce, 234 00:13:17,960 --> 00:13:21,320 Speaker 1: the Euro one point one seven two against the dollar, 235 00:13:21,440 --> 00:13:23,680 Speaker 1: the British pound one point to zero six five and 236 00:13:23,679 --> 00:13:26,959 Speaker 1: again one thirty five point to one, and Bitcoin this 237 00:13:27,040 --> 00:13:29,440 Speaker 1: morning is up four tens percent at twenty three thousand, 238 00:13:29,440 --> 00:13:32,440 Speaker 1: five hundred dollars. That's a Bloomberg business flash. Now here's 239 00:13:32,440 --> 00:13:34,840 Speaker 1: Michael Barr with more on what's going on around the world. 240 00:13:34,960 --> 00:13:37,800 Speaker 1: Michael Karen, thank you very much. Accord is expected to 241 00:13:37,840 --> 00:13:40,319 Speaker 1: decide today whether to make public the full aff of 242 00:13:40,480 --> 00:13:44,400 Speaker 1: David used to justify the FBI raid at President Trump's 243 00:13:44,440 --> 00:13:47,720 Speaker 1: Mora Lago home. The Justice Department has objected to the 244 00:13:47,760 --> 00:13:51,040 Speaker 1: aff of David's release, saying it would compromise the investigation. 245 00:13:51,559 --> 00:13:55,280 Speaker 1: CDC Director Dr Rochelle Wolinski is calling for a reset 246 00:13:55,280 --> 00:13:58,400 Speaker 1: of the agency after an internal review fault at the 247 00:13:58,440 --> 00:14:02,280 Speaker 1: CDC's response to the OVID pandemic. She wants the agency 248 00:14:02,320 --> 00:14:06,240 Speaker 1: to share information faster and in plain language. In baseball, 249 00:14:06,280 --> 00:14:09,360 Speaker 1: the Yankees one with a dramatic Grand Slam against the 250 00:14:09,440 --> 00:14:12,360 Speaker 1: Raise eight seven and ten innings. The Mets beat the 251 00:14:12,360 --> 00:14:15,679 Speaker 1: Braves nine seven, The Red Sox and Ace won the 252 00:14:15,800 --> 00:14:19,640 Speaker 1: Nationals Orioles and Giants lost. Global News twenty four hours 253 00:14:19,640 --> 00:14:22,480 Speaker 1: a day on air and on Bloomberg Quick Take, powered 254 00:14:22,480 --> 00:14:25,480 Speaker 1: by more than twenty seven hundred journalists and analysts in 255 00:14:25,560 --> 00:14:27,960 Speaker 1: more than a hundred twenty countries. I'm Michael Barr, and 256 00:14:28,080 --> 00:14:31,200 Speaker 1: this is Bloomberg, John Michael, thank you six twenty on 257 00:14:31,240 --> 00:14:34,160 Speaker 1: Wall Street and rely for the Bloomberg Interact and Brokers Studios. 258 00:14:34,280 --> 00:14:37,560 Speaker 1: This is Bloomberg Day Right. Minutes from their last meetings 259 00:14:37,560 --> 00:14:40,360 Speaker 1: show the Federal Reserve officials agreed last month on they 260 00:14:40,360 --> 00:14:42,800 Speaker 1: need to eventually dial back on the pace of the 261 00:14:42,840 --> 00:14:46,080 Speaker 1: industrate hikes. Let's take a deeper time this morning, joining 262 00:14:46,120 --> 00:14:50,920 Speaker 1: us at BEMO Capital Markets Managing Director senior economist Jennifer Lee. Hey, Jen, 263 00:14:51,080 --> 00:14:54,680 Speaker 1: what is your takeaway? Oh? Good morning? Um, you know 264 00:14:54,680 --> 00:14:57,920 Speaker 1: what the particule is that I think that said, much 265 00:14:58,000 --> 00:15:00,200 Speaker 1: like most of the other central banks to s, you're 266 00:15:00,280 --> 00:15:03,280 Speaker 1: on that whole there, biding by that whole. We're not 267 00:15:03,320 --> 00:15:06,000 Speaker 1: on a preset course kind of view. Um. You know, 268 00:15:06,040 --> 00:15:08,800 Speaker 1: they continue to see that there's little evidence of inflation 269 00:15:08,840 --> 00:15:11,280 Speaker 1: pressure is cooling off, and that's going to take a 270 00:15:11,320 --> 00:15:13,720 Speaker 1: while for this to happen, but you know, at some 271 00:15:13,760 --> 00:15:15,680 Speaker 1: point they're you know, they're also looking for GDP to 272 00:15:15,760 --> 00:15:18,400 Speaker 1: be revised upward, which was which I thought was quite 273 00:15:18,480 --> 00:15:21,080 Speaker 1: interesting as well. But it basically sounds like, you know, 274 00:15:21,480 --> 00:15:23,760 Speaker 1: we we that seventy five basis points are probably not 275 00:15:23,800 --> 00:15:26,760 Speaker 1: in play, and it just supports our call for another 276 00:15:26,760 --> 00:15:31,440 Speaker 1: fifty basis point like UM in September and the meeting afterwards. 277 00:15:31,480 --> 00:15:33,840 Speaker 1: But I think they're just going to be very data dependent, 278 00:15:34,160 --> 00:15:36,160 Speaker 1: wait and see what happens, and I think that's definitely 279 00:15:36,240 --> 00:15:39,120 Speaker 1: the right UM mindset to be in. We you say, 280 00:15:39,160 --> 00:15:42,240 Speaker 1: a little evidence of cooling off on the inflation front. 281 00:15:42,280 --> 00:15:44,960 Speaker 1: So why would the expectations go down to fifty basis 282 00:15:45,000 --> 00:15:48,520 Speaker 1: points at the next meeting, Because if you know, I mean, 283 00:15:48,720 --> 00:15:51,640 Speaker 1: we're not back, We're not at nine point one percent anymore. 284 00:15:51,720 --> 00:15:54,080 Speaker 1: And again you continue to you know, you have seen 285 00:15:54,840 --> 00:15:57,840 Speaker 1: one month of data and inflation port last week that 286 00:15:57,880 --> 00:16:01,320 Speaker 1: sally some cooling off, um, But you're going to need 287 00:16:01,360 --> 00:16:03,760 Speaker 1: a lot more than that, So I think to that, 288 00:16:03,840 --> 00:16:05,240 Speaker 1: you know, And plus at that point, they didn't have 289 00:16:05,280 --> 00:16:08,080 Speaker 1: the inflation report anyway, So I think they're they're going 290 00:16:08,120 --> 00:16:09,840 Speaker 1: to see they didn't need to see at least, you know, 291 00:16:09,880 --> 00:16:13,080 Speaker 1: a few months of of downward pressure on inflation before 292 00:16:13,080 --> 00:16:15,400 Speaker 1: they start dialing back even further than that. But seventy 293 00:16:15,400 --> 00:16:17,320 Speaker 1: five basis points was already an aggressive move, and I 294 00:16:17,360 --> 00:16:20,280 Speaker 1: don't think that's necessary at this point. Do they have 295 00:16:20,320 --> 00:16:25,600 Speaker 1: to torpedo other stuff like a full employment to get there? Oh? Man, 296 00:16:25,640 --> 00:16:28,440 Speaker 1: I hope it's not. I hope nobody has to torpedo anything. 297 00:16:28,480 --> 00:16:31,160 Speaker 1: But you know, all of these moves, um, whether it's 298 00:16:31,200 --> 00:16:33,360 Speaker 1: seventy five or fifty, you know, a series of them 299 00:16:33,760 --> 00:16:36,640 Speaker 1: were supposed to have that intended effect of slowing economic growth, 300 00:16:36,680 --> 00:16:38,440 Speaker 1: and it's already we're already seeing that. We saw that 301 00:16:38,520 --> 00:16:40,480 Speaker 1: in you know, for example, this week, that big nine 302 00:16:40,480 --> 00:16:44,000 Speaker 1: point in housing starts. We're already going to see another 303 00:16:44,080 --> 00:16:46,480 Speaker 1: you know, setback as well as existing home sales. So 304 00:16:46,560 --> 00:16:48,960 Speaker 1: the whole impact of this is just too cool demand 305 00:16:49,440 --> 00:16:51,240 Speaker 1: and we're starting to see that and hopefully it's not 306 00:16:51,240 --> 00:16:55,200 Speaker 1: going to torpedo um employment although you know, you know 307 00:16:55,280 --> 00:16:58,240 Speaker 1: the big games that we saw in payrolls, you know, 308 00:16:58,360 --> 00:17:01,080 Speaker 1: it's definitely a thing of the past. Okay, Jackson Hole 309 00:17:01,200 --> 00:17:07,880 Speaker 1: meeting more important than usual, this FED symposium. You know, Um, 310 00:17:07,920 --> 00:17:10,320 Speaker 1: I've been treading lately on this lab. I have to 311 00:17:10,359 --> 00:17:12,480 Speaker 1: say yes because we're sending a lot of people there. 312 00:17:12,600 --> 00:17:15,480 Speaker 1: I heard, you know, it's it's obviously it's you know, 313 00:17:15,520 --> 00:17:17,879 Speaker 1: it's it's like the who's who uh in the world 314 00:17:17,920 --> 00:17:19,920 Speaker 1: of finance. That will that will that will always be 315 00:17:19,960 --> 00:17:22,399 Speaker 1: an attendance, although I think I missed my invitation again 316 00:17:22,480 --> 00:17:25,280 Speaker 1: for the you know, year in a row. Um. But 317 00:17:25,359 --> 00:17:26,840 Speaker 1: you know, at the same time, I have to think, 318 00:17:26,880 --> 00:17:29,399 Speaker 1: you know, I don't know what more he could add 319 00:17:29,560 --> 00:17:31,400 Speaker 1: to what they've already been saying. You know, they're trying 320 00:17:31,400 --> 00:17:33,920 Speaker 1: to be as clear as they can with their communications 321 00:17:34,000 --> 00:17:36,560 Speaker 1: and being as compelling as they as they can possibly be. 322 00:17:37,040 --> 00:17:38,680 Speaker 1: You know, they just look for they just continue to 323 00:17:38,680 --> 00:17:41,120 Speaker 1: look for more evidence U and you know they might ask, 324 00:17:41,160 --> 00:17:42,600 Speaker 1: you know, what what is it going to take? And 325 00:17:42,640 --> 00:17:46,000 Speaker 1: that might be the more interesting thing to talk about 326 00:17:46,040 --> 00:17:47,600 Speaker 1: it Maybe we even talk about, you know, when they're 327 00:17:47,600 --> 00:17:50,679 Speaker 1: actually gonna start seeing rate cuts. Also that thing that 328 00:17:50,800 --> 00:17:56,480 Speaker 1: for us is not until probably move okay, Adding to 329 00:17:56,520 --> 00:17:59,119 Speaker 1: the difficulties and all this remind everybody there is a 330 00:17:59,520 --> 00:18:03,640 Speaker 1: there's a period between implementation and when you actually see 331 00:18:03,680 --> 00:18:06,480 Speaker 1: if the policy is working in that right, Um, a 332 00:18:06,520 --> 00:18:07,960 Speaker 1: little bit of a leg but you know, I mean 333 00:18:08,280 --> 00:18:10,240 Speaker 1: we're seeing, you know, as soon as you start raising rates, 334 00:18:10,240 --> 00:18:13,000 Speaker 1: you know that the banks start raising rates as well. Um. 335 00:18:13,280 --> 00:18:16,200 Speaker 1: It does filter through fairly quickly. So that's why you're seeing, 336 00:18:16,520 --> 00:18:19,160 Speaker 1: especially on the housing front, and that's why you're seeing 337 00:18:19,200 --> 00:18:22,399 Speaker 1: you know, such a big dramatic um UM decline right 338 00:18:22,480 --> 00:18:26,320 Speaker 1: now in some of the housing data. Although at some point, 339 00:18:26,960 --> 00:18:28,520 Speaker 1: of course, at some point, you know, there's also going 340 00:18:28,560 --> 00:18:30,960 Speaker 1: to be that impact of high prices as well, at 341 00:18:30,960 --> 00:18:34,040 Speaker 1: which buyers were already dealing with UM. So this added 342 00:18:34,240 --> 00:18:36,840 Speaker 1: increase in boring costs is just gonna make things a 343 00:18:36,840 --> 00:18:38,800 Speaker 1: little bit more difficult for the who're trying to get 344 00:18:38,800 --> 00:18:41,320 Speaker 1: back into the housing market. Okay, so from the market 345 00:18:41,400 --> 00:18:46,720 Speaker 1: participant perspective, was this dovish not dovish? Or I mean, 346 00:18:46,760 --> 00:18:49,960 Speaker 1: how do you give me the bottom line here? For me? 347 00:18:50,080 --> 00:18:51,720 Speaker 1: If I had to take, if I was back into 348 00:18:51,760 --> 00:18:53,880 Speaker 1: the corner, I would say it's a little bit um 349 00:18:54,200 --> 00:18:57,840 Speaker 1: more slightly more dovish. I think um than one would 350 00:18:57,840 --> 00:19:00,200 Speaker 1: expect it. Again, they're going to keep raising rates. They're 351 00:19:00,240 --> 00:19:02,400 Speaker 1: just not going to go sending five basis points. So 352 00:19:02,560 --> 00:19:04,520 Speaker 1: instead if you're going, if you're gonna say from SENTI five, 353 00:19:05,160 --> 00:19:07,200 Speaker 1: if we want to call that duvish, you know that's 354 00:19:07,480 --> 00:19:09,720 Speaker 1: the leaning I would take. But you know they're still 355 00:19:09,760 --> 00:19:12,080 Speaker 1: going and you know we still have them raising rates 356 00:19:12,119 --> 00:19:14,240 Speaker 1: for the last three meetings of this year. Are we 357 00:19:14,280 --> 00:19:17,560 Speaker 1: going to avoid recession? Technical recession? However you wanted to 358 00:19:17,680 --> 00:19:21,840 Speaker 1: find it? About twenty seconds. We we have a negative 359 00:19:21,920 --> 00:19:26,119 Speaker 1: quarter priced in a pencilvan for early next year. It's 360 00:19:26,160 --> 00:19:28,240 Speaker 1: going to be it's going to feel like recession, but 361 00:19:28,520 --> 00:19:30,439 Speaker 1: maybe not the true definition that the n d e 362 00:19:30,560 --> 00:19:34,720 Speaker 1: R would would lean on. BMO Capital Markets Managing Director's 363 00:19:34,760 --> 00:19:38,399 Speaker 1: senior accounts Jennifer Lee with this this morning, always the pleasure, 364 00:19:38,440 --> 00:19:40,760 Speaker 1: appreciate it. And ahead of that, you can show up 365 00:19:40,760 --> 00:19:43,280 Speaker 1: on Wall Street down futures right now there are thirty 366 00:19:43,320 --> 00:19:45,919 Speaker 1: four points higher, that's the tenth of a percent. S 367 00:19:45,960 --> 00:19:48,920 Speaker 1: and p emanate futures there are five points that's of 368 00:19:49,000 --> 00:19:52,080 Speaker 1: the tenth of a percent. The Nanzac futures of fifteen 369 00:19:52,240 --> 00:19:54,880 Speaker 1: right now a tenth of a percent higher. And as 370 00:19:54,880 --> 00:19:57,720 Speaker 1: we look at the Wall Street fear gage slightly elevated 371 00:19:57,760 --> 00:20:00,879 Speaker 1: the vix at twenty point one f work. You're listening 372 00:20:00,880 --> 00:20:09,280 Speaker 1: to Bloomberg Daybreak, the Bloomberg Weather from Rob Caroline Parler. 373 00:20:09,359 --> 00:20:12,240 Speaker 1: Mostly sunny, the high temperature eighty five in New York 374 00:20:12,280 --> 00:20:17,080 Speaker 1: today Tomorrow morning sun increasing afternoon clouds. High temperature eighty 375 00:20:17,160 --> 00:20:23,600 Speaker 1: five to ninety degrees. This is Bloomberg broadcasting live from 376 00:20:23,600 --> 00:20:27,440 Speaker 1: the Bloomberg Interactive Broker Studio in New York. Bloomberg e 377 00:20:27,480 --> 00:20:31,440 Speaker 1: Living Freedom to Washington, d C. Bloomberg ninety one to Boston, 378 00:20:31,560 --> 00:20:35,439 Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg sixteen 379 00:20:35,520 --> 00:20:38,280 Speaker 1: to the country, Sirius XM to A one nineteen and 380 00:20:38,359 --> 00:20:41,760 Speaker 1: around the globe. The Bloomberg Business app and Bloomberg Radio 381 00:20:41,840 --> 00:20:50,639 Speaker 1: dot com. This is Bloomberg Daybreak, the six thirty on 382 00:20:50,680 --> 00:20:53,680 Speaker 1: Wall Street. Good morning, I'm John Tucker and I'm Cameron Moscow. 383 00:20:53,720 --> 00:20:55,879 Speaker 1: We're just about three hours away from the open of 384 00:20:55,960 --> 00:20:57,919 Speaker 1: US trading. It's time for the five things you need 385 00:20:58,000 --> 00:20:59,840 Speaker 1: to know to start your day. Brought to you by 386 00:21:00,040 --> 00:21:04,440 Speaker 1: Interactive Brokers. Interactive Brokers Simple, ib k our Global Trader app, 387 00:21:04,520 --> 00:21:07,120 Speaker 1: deposit in your local currency and trade stocks in the US, 388 00:21:07,200 --> 00:21:10,040 Speaker 1: Europe and Asia. Sharn't your free trial at ibk R 389 00:21:10,119 --> 00:21:14,320 Speaker 1: dot com Slash Global Trader First. US futures are higher 390 00:21:14,359 --> 00:21:16,840 Speaker 1: this morning, after the first down day for stocks in 391 00:21:16,880 --> 00:21:19,720 Speaker 1: nearly a week. Markets are still digesting minutes from the 392 00:21:19,760 --> 00:21:23,639 Speaker 1: latest FED meeting. Lorene Gilbert's CEO of Wealthwise Financial, says, 393 00:21:23,680 --> 00:21:27,119 Speaker 1: there's uncertainty, but still a chance for solid returns. We 394 00:21:27,200 --> 00:21:30,840 Speaker 1: do like small cap across the way growth in value 395 00:21:30,880 --> 00:21:33,280 Speaker 1: because if you do believe that this is a bull 396 00:21:33,320 --> 00:21:36,760 Speaker 1: market run, then we have the opportunity for small cap 397 00:21:37,000 --> 00:21:41,640 Speaker 1: to continue to outpace. Lorrene Gilbert with Wealthwise says technical 398 00:21:41,680 --> 00:21:44,639 Speaker 1: indicators show markets could sustain a bull run in the 399 00:21:44,680 --> 00:21:47,879 Speaker 1: months ahead, and traders are waiting fresh economic data. Today 400 00:21:47,920 --> 00:21:50,760 Speaker 1: A thirty am, All Street Time, Labor Department releases the 401 00:21:50,840 --> 00:21:53,520 Speaker 1: latest figures on jobless claims. We're also going to get 402 00:21:53,520 --> 00:21:56,840 Speaker 1: existing home sales for July. That's at ten and we 403 00:21:56,880 --> 00:21:59,520 Speaker 1: turned to corporate News Now John, where tech giants Apple 404 00:21:59,680 --> 00:22:02,640 Speaker 1: front and center. The company is aiming to unveil it's 405 00:22:02,640 --> 00:22:05,400 Speaker 1: new iPhone next month. Bloomberg's we need a young joins 406 00:22:05,480 --> 00:22:07,359 Speaker 1: us live with the details or need a good morning, 407 00:22:07,400 --> 00:22:10,639 Speaker 1: Good morning, Karen, Bloomberg. Sources say Apple's big reveal of 408 00:22:10,680 --> 00:22:13,879 Speaker 1: the iPhone fourteen is expected to come on September seven. 409 00:22:14,240 --> 00:22:17,560 Speaker 1: The flagship product generates more than half of Apple's sales, 410 00:22:17,840 --> 00:22:20,080 Speaker 1: and the update comes at a time when smartphone sales 411 00:22:20,160 --> 00:22:23,359 Speaker 1: more broadly have started to slump as consumers cope with 412 00:22:23,440 --> 00:22:26,760 Speaker 1: inflation and a shaky economy. The launch kicks off a 413 00:22:26,760 --> 00:22:29,720 Speaker 1: busy fall product season for the tech giant, which will 414 00:22:29,720 --> 00:22:33,000 Speaker 1: include multiple new Max low end and high end iPads 415 00:22:33,240 --> 00:22:36,080 Speaker 1: and three Apple Watch models. Live in New York, I'm 416 00:22:36,119 --> 00:22:39,560 Speaker 1: renned a young Bloomberg day breaks. Thanks. We're getting more 417 00:22:39,560 --> 00:22:41,560 Speaker 1: earnings reports today that will give us a sense of 418 00:22:41,600 --> 00:22:44,639 Speaker 1: consumer strength. We're gonna hear from big box retailer b 419 00:22:44,840 --> 00:22:48,800 Speaker 1: J's Coles and st Lauder. Now to geopolitics, John, where 420 00:22:48,800 --> 00:22:51,600 Speaker 1: attentions with China remain front end center. The U s 421 00:22:51,640 --> 00:22:54,199 Speaker 1: and Taiwan are set to start formal negotiations on a 422 00:22:54,200 --> 00:22:58,119 Speaker 1: bilateral trade agreement. Bloomberg News corresponding Bruce ein Horn says 423 00:22:58,160 --> 00:23:01,159 Speaker 1: talks are expected to start this fall. Where these go 424 00:23:01,320 --> 00:23:03,680 Speaker 1: I think it's a big question because on the one hand, 425 00:23:03,800 --> 00:23:07,200 Speaker 1: there's really strong bipartisan support for Taiwan and the US Congress. 426 00:23:07,240 --> 00:23:10,119 Speaker 1: On the other hand, there's really not strong bipartisan support 427 00:23:10,119 --> 00:23:12,520 Speaker 1: for any sort of trade deals in the US Congress. 428 00:23:12,520 --> 00:23:15,320 Speaker 1: What comes out of this remains to be seen. And 429 00:23:15,440 --> 00:23:17,720 Speaker 1: Bloomberg Spruce eyn Horn says a villa in Congress that 430 00:23:17,760 --> 00:23:21,480 Speaker 1: would upgrade US relations with Taiwan could further inflame tensions. 431 00:23:21,800 --> 00:23:23,760 Speaker 1: That's the fine things that you need to notice. Start 432 00:23:23,800 --> 00:23:27,440 Speaker 1: your day. Brought to you by Interactive Brokers. Again, futures 433 00:23:27,480 --> 00:23:29,840 Speaker 1: are higher this morning. Straight to head your latest local 434 00:23:29,880 --> 00:23:38,560 Speaker 1: headlines plus the check of sports, and this is Bloomberg. Thanks, 435 00:23:39,000 --> 00:23:41,399 Speaker 1: it's thirty three Young Wolves. Time to bring in Michael 436 00:23:41,440 --> 00:23:43,280 Speaker 1: barn It tell us what else is going on to 437 00:23:43,359 --> 00:23:46,640 Speaker 1: New York hand around the world. John, thank you very much. Sir. 438 00:23:46,800 --> 00:23:49,320 Speaker 1: Four bus loads of migrants who had crossed the border 439 00:23:49,359 --> 00:23:52,919 Speaker 1: into Texas arrived in New York City yesterday. Texas Governor 440 00:23:52,960 --> 00:23:55,840 Speaker 1: Greg Abbott has been sending migrants to New York and 441 00:23:56,040 --> 00:23:59,320 Speaker 1: Washington d C, saying it's a crisis caused by the 442 00:23:59,320 --> 00:24:02,680 Speaker 1: Biden The Minister Ration. New York Mayor Eric Adams says 443 00:24:02,760 --> 00:24:06,080 Speaker 1: Abbot is using the migrants as political pawns. Our team 444 00:24:06,160 --> 00:24:09,239 Speaker 1: reached out to him when we first discovered what he 445 00:24:09,320 --> 00:24:14,040 Speaker 1: was doing, and we asked less cognate because crisis calls 446 00:24:14,119 --> 00:24:18,480 Speaker 1: for coordination. Governor Rabbit responded to Adams when the mayor 447 00:24:18,720 --> 00:24:22,119 Speaker 1: began complaining about just getting a small trickle of what 448 00:24:22,280 --> 00:24:25,040 Speaker 1: Texas has to do with all the time, I said, 449 00:24:25,040 --> 00:24:27,440 Speaker 1: I'm a letter and I invited him to come down 450 00:24:27,480 --> 00:24:31,399 Speaker 1: to the border and see firsthand the chaos that exists 451 00:24:31,440 --> 00:24:35,600 Speaker 1: in Texas. Governor Rabbit and Mayor Adams appeared on ABC's Nightline. 452 00:24:36,000 --> 00:24:38,960 Speaker 1: The head of the CDC acknowledged that her agency made 453 00:24:38,960 --> 00:24:42,760 Speaker 1: mistakes in its response to COVID. Dr Rochelle Wilenski says 454 00:24:42,760 --> 00:24:46,000 Speaker 1: it's time for an internal reorganization. She says it's a 455 00:24:46,040 --> 00:24:49,200 Speaker 1: response to the notion that the agency is too focused 456 00:24:49,480 --> 00:24:53,000 Speaker 1: on academic work and not nimble enough to respond to 457 00:24:53,080 --> 00:24:56,880 Speaker 1: fast emerging diseases. We as an agency cannon, should move 458 00:24:56,920 --> 00:25:00,359 Speaker 1: faster with our data. Dr Wilensky also says the agency 459 00:25:00,400 --> 00:25:03,760 Speaker 1: needs to communicate better with the public. Rutgers University in 460 00:25:03,800 --> 00:25:07,040 Speaker 1: New Jersey says face coverings will continue to be required 461 00:25:07,040 --> 00:25:10,160 Speaker 1: in most indoor settings for the new school year. All 462 00:25:10,240 --> 00:25:13,639 Speaker 1: students and employees are required to be fully vaccinated. The 463 00:25:13,720 --> 00:25:16,520 Speaker 1: university cites the ongoing spread of the B A five 464 00:25:16,600 --> 00:25:20,320 Speaker 1: omicron subvariant. A few days ago, New Jersey Governor Phil 465 00:25:20,359 --> 00:25:23,640 Speaker 1: Murphy announced the state will no longer require weekly testing 466 00:25:24,000 --> 00:25:28,800 Speaker 1: for unvaccinated schools. However, yesterday Murphy said that he has 467 00:25:28,800 --> 00:25:32,200 Speaker 1: no issue with the university's mandates. That's Rutger's call, and 468 00:25:32,440 --> 00:25:35,679 Speaker 1: we said that school districts that choose to want to 469 00:25:35,680 --> 00:25:39,879 Speaker 1: be to keep the vaccine test in place are welcome to. 470 00:25:40,160 --> 00:25:42,119 Speaker 1: My gut tells me there won't be many that do that, 471 00:25:42,480 --> 00:25:47,320 Speaker 1: Governor Phil Murphy. Former Trump Organizations CFO Allen Weisselberg is 472 00:25:47,359 --> 00:25:50,800 Speaker 1: expected to plead guilty today in the New York City courtroom, 473 00:25:50,840 --> 00:25:53,080 Speaker 1: according to The New York Times, as part of his 474 00:25:53,160 --> 00:25:56,760 Speaker 1: plead deal. Weisselberg will admit to all fifteen felonies he's 475 00:25:56,800 --> 00:25:59,840 Speaker 1: accused of and may have to testify about his role 476 00:26:00,240 --> 00:26:03,800 Speaker 1: in the scheme if the Trump organization goes on trial. 477 00:26:04,440 --> 00:26:07,080 Speaker 1: Global News twenty four hours a day on air and 478 00:26:07,240 --> 00:26:10,680 Speaker 1: on Bloomberg Quick Tank, powered by more than seven hundred 479 00:26:10,760 --> 00:26:13,720 Speaker 1: journalists and analysts more than a hundred twenty countries. Michael 480 00:26:13,760 --> 00:26:16,840 Speaker 1: Barr and this is Bloomberg, John, Michael, thank you. It 481 00:26:17,160 --> 00:26:21,679 Speaker 1: is now six thirty six on Wall Street. Time for 482 00:26:21,720 --> 00:26:24,920 Speaker 1: the Bloomberg Sports Update. Good Morning John, Stann Showard Morning John. 483 00:26:24,920 --> 00:26:27,600 Speaker 1: Only twice in Yankee history had they won a game 484 00:26:27,680 --> 00:26:30,440 Speaker 1: on an extra hitting grand Slam when they were trailing 485 00:26:30,480 --> 00:26:33,840 Speaker 1: by three runs. Jason Giambie did so did Babe Route 486 00:26:34,160 --> 00:26:38,640 Speaker 1: And it happened tent any last night. And Donaldson swing 487 00:26:38,720 --> 00:26:41,240 Speaker 1: hot hit of there to write toward the line that 488 00:26:41,359 --> 00:26:46,800 Speaker 1: ball has gonna bear. It's a grand slam, a walk 489 00:26:46,920 --> 00:26:52,800 Speaker 1: up grand slam to win the game. Josh Donaldson powered 490 00:26:52,840 --> 00:26:55,760 Speaker 1: one down the right pel line into the seat. It's 491 00:26:55,800 --> 00:27:00,520 Speaker 1: a grand plan. Had to call Donaldson's eighth ear walk 492 00:27:00,560 --> 00:27:02,959 Speaker 1: off homer, but first since two thousand fifteen. And talk 493 00:27:03,000 --> 00:27:05,160 Speaker 1: about a much needed eight seven win. Yankees, of course, 494 00:27:05,160 --> 00:27:08,240 Speaker 1: have been struggling mightily. They trailed Tampa Bay for to nothing. 495 00:27:08,520 --> 00:27:11,360 Speaker 1: After rallying the tie, they fell behind seven to four 496 00:27:11,359 --> 00:27:14,160 Speaker 1: in the Tom Donaldson but at disappointment this season. That's 497 00:27:14,160 --> 00:27:15,959 Speaker 1: one reason why the Yanks just called up twenty three 498 00:27:16,040 --> 00:27:18,679 Speaker 1: year old as Waldo Cabrera. He played third base, went 499 00:27:18,720 --> 00:27:21,040 Speaker 1: over four in his debut. Donaldson was the d H. 500 00:27:21,160 --> 00:27:23,800 Speaker 1: Yanks also called up Estevan Floria all the place center fields, 501 00:27:23,800 --> 00:27:25,840 Speaker 1: so they had two guys in the lineup with Jersey 502 00:27:25,880 --> 00:27:28,880 Speaker 1: numbers ninety and ninety five. The Mets also just called 503 00:27:28,960 --> 00:27:30,760 Speaker 1: up in the third basement and twenty two year old 504 00:27:30,760 --> 00:27:33,760 Speaker 1: Brett Batty homer in Atlanta, first time he had swung 505 00:27:33,800 --> 00:27:36,040 Speaker 1: the bat in the Major's fifth met the homer in 506 00:27:36,119 --> 00:27:38,359 Speaker 1: his first at bat. Mets went on beat the Brays 507 00:27:38,440 --> 00:27:41,080 Speaker 1: nine to seven to home runs for Starling Marte. Max 508 00:27:41,119 --> 00:27:43,520 Speaker 1: Jerser got the win. He's nine and two and J. K. 509 00:27:43,600 --> 00:27:45,320 Speaker 1: Pigraham goes tonight as the Mets try to get a 510 00:27:45,320 --> 00:27:48,399 Speaker 1: split of the series. W NBA Playoffs, the Liberty One 511 00:27:48,440 --> 00:27:51,600 Speaker 1: Game one from Chicago NBA schedule is out. The Nick's 512 00:27:51,600 --> 00:27:54,160 Speaker 1: opened up October nineteenth to Memphis, the Nets will host 513 00:27:54,240 --> 00:27:56,840 Speaker 1: New Orleans. Venus Williams hasn't one of the US Open 514 00:27:56,880 --> 00:27:59,480 Speaker 1: over twenty years. She stepted a wild card to play 515 00:27:59,680 --> 00:28:01,560 Speaker 1: and with gonna be the final tournament for her sister. 516 00:28:02,640 --> 00:28:05,040 Speaker 1: Bloomberg Sports don all right, John, thanks very much. That 517 00:28:05,080 --> 00:28:08,879 Speaker 1: brings us to On Wall Street. Let's wrap up yesterday's 518 00:28:09,280 --> 00:28:11,960 Speaker 1: Fed minutes, the release of those fanmats, take a look 519 00:28:12,040 --> 00:28:14,560 Speaker 1: at the day ahead for markets, and for that we're 520 00:28:14,600 --> 00:28:19,119 Speaker 1: joined by Bloomberg International Economics and Policy correspondent Michael McKay. 521 00:28:19,160 --> 00:28:21,960 Speaker 1: What's gonna happen markets today? I'm just kidding. They're gonna 522 00:28:21,960 --> 00:28:24,600 Speaker 1: go up or they're gonna go down, So the Fed 523 00:28:24,680 --> 00:28:28,880 Speaker 1: can't be wrong, right, I'm trying to assess whether they're 524 00:28:29,240 --> 00:28:35,920 Speaker 1: dubbish or otherwise uh hawkish the five minutes from yesterday. Um, 525 00:28:35,960 --> 00:28:38,680 Speaker 1: this is not gonna be a popular view, but I'm 526 00:28:38,720 --> 00:28:42,000 Speaker 1: gonna argue that it doesn't really matter because let me 527 00:28:42,040 --> 00:28:45,800 Speaker 1: take you back in to them through the mists of history, 528 00:28:45,840 --> 00:28:48,640 Speaker 1: all the way back to July when the Fed met 529 00:28:49,040 --> 00:28:51,480 Speaker 1: and j Pal came out in his news comforts afterwards 530 00:28:51,560 --> 00:28:56,000 Speaker 1: and said that the FED was really worried about inflation 531 00:28:56,200 --> 00:28:59,400 Speaker 1: and would keep to raising interest rates and get above 532 00:28:59,760 --> 00:29:03,280 Speaker 1: new drill probably by the end of the year, and that, uh, yeah, 533 00:29:03,320 --> 00:29:06,120 Speaker 1: there was a concern that they might go too far, 534 00:29:06,160 --> 00:29:10,400 Speaker 1: but they're a long way from that. Uh. Basically, he 535 00:29:10,560 --> 00:29:14,080 Speaker 1: was saying what the minutes said. And so three weeks later, 536 00:29:14,200 --> 00:29:16,400 Speaker 1: the fact that the minutes confirmed that don't tell us 537 00:29:16,400 --> 00:29:19,640 Speaker 1: a whole lot, because, uh, the minutes say, the Fed 538 00:29:19,720 --> 00:29:23,520 Speaker 1: officials were worried, we're we're seeing signs that the economy 539 00:29:23,640 --> 00:29:27,120 Speaker 1: was slowing down and some tentative slignes that the labor 540 00:29:27,160 --> 00:29:31,280 Speaker 1: market was finally starting to ease. And then after that 541 00:29:31,400 --> 00:29:34,720 Speaker 1: we had that blowout jobs report for the month of July. 542 00:29:35,120 --> 00:29:39,040 Speaker 1: They were worried that inflation was out of control and 543 00:29:39,280 --> 00:29:42,719 Speaker 1: really really high. And then we had the uh, the 544 00:29:42,720 --> 00:29:46,360 Speaker 1: CPI report that showed inflation had cooled in the month 545 00:29:46,400 --> 00:29:50,600 Speaker 1: of July. So the data have changed the situation on 546 00:29:50,680 --> 00:29:53,440 Speaker 1: the ground since the minutes came out. And I don't 547 00:29:53,440 --> 00:29:55,640 Speaker 1: think you can make a whole lot in terms of 548 00:29:55,640 --> 00:29:59,000 Speaker 1: a trading decision on what the minutes say. You have 549 00:29:59,080 --> 00:30:02,560 Speaker 1: to look at where we are right now and uh, 550 00:30:02,720 --> 00:30:05,280 Speaker 1: what Fed officials are saying right now. If only there 551 00:30:05,280 --> 00:30:08,480 Speaker 1: were some opportunity for them to come out and speak 552 00:30:08,520 --> 00:30:11,720 Speaker 1: between now and the September twenty one meeting. What you 553 00:30:11,800 --> 00:30:17,400 Speaker 1: just said, well, and that is more true than ever 554 00:30:18,000 --> 00:30:20,440 Speaker 1: in the within the context of whether we're talking about 555 00:30:20,480 --> 00:30:23,479 Speaker 1: a fifty basis point move or a seventy five basis 556 00:30:23,480 --> 00:30:25,880 Speaker 1: point move. I don't think there's any question that they 557 00:30:25,960 --> 00:30:28,600 Speaker 1: are going to raise rates in September, and I don't 558 00:30:28,640 --> 00:30:31,280 Speaker 1: think there's really any debate about whether it should be 559 00:30:31,320 --> 00:30:33,880 Speaker 1: twenty five basis points and those we've got some sort 560 00:30:33,920 --> 00:30:38,000 Speaker 1: of uh, really terrible jobs report coming up the first 561 00:30:38,040 --> 00:30:41,920 Speaker 1: week of September. But fifty or seventy five. A lot's 562 00:30:41,960 --> 00:30:44,480 Speaker 1: going to depend on the data between now and then, 563 00:30:44,480 --> 00:30:48,800 Speaker 1: and whether they feel the economy needs another sharp jolt 564 00:30:49,280 --> 00:30:50,960 Speaker 1: or whether they just need to sort of keep the 565 00:30:51,000 --> 00:30:55,680 Speaker 1: pressure on. All Right, Um, what is it? Week after Friday? 566 00:30:55,880 --> 00:30:59,960 Speaker 1: Is um, Jackson Hole get ten seconds left banks all times? 567 00:31:00,160 --> 00:31:02,880 Speaker 1: Jackson Hole is a week from tomorrow? Yeah, And the 568 00:31:03,280 --> 00:31:08,040 Speaker 1: something's gonna happen there, Something's gonna happen there will stocks 569 00:31:08,080 --> 00:31:11,120 Speaker 1: will go up, for stocks will go down. Bloomberg International. 570 00:31:11,520 --> 00:31:15,440 Speaker 1: You heard it here first Economics and Policy, corresponded Michael McKee. 571 00:31:15,960 --> 00:31:22,160 Speaker 1: You're listening to Bloomberg Daybreak and futures right now they're 572 00:31:22,200 --> 00:31:25,200 Speaker 1: in the green. The Dow futures of points, that's up 573 00:31:25,200 --> 00:31:28,960 Speaker 1: a tenth of a percent, smp emny futures seven points higher, 574 00:31:29,680 --> 00:31:33,120 Speaker 1: and the Nanstak futures right now nineteen points higher. You're 575 00:31:33,160 --> 00:31:39,920 Speaker 1: listening to Bloomberg Daybreak, markets, headlines and breaking news twenty 576 00:31:39,920 --> 00:31:42,720 Speaker 1: four hours a day at Bloomberg dot com, the Bloomberg 577 00:31:42,800 --> 00:31:46,360 Speaker 1: Business Out and at Bloomberg Quick Tape. He's a Bloomberg 578 00:31:46,440 --> 00:31:55,200 Speaker 1: Business lash. And I'm Karen Moscow and you want stock 579 00:31:55,240 --> 00:31:58,480 Speaker 1: index futures, they are a little changed to hire. This morning, 580 00:31:58,520 --> 00:32:00,160 Speaker 1: we go to the first word breaking news to us 581 00:32:00,200 --> 00:32:02,920 Speaker 1: for today's morning call. Here's Bill Maloney. Bill, good morning, 582 00:32:03,800 --> 00:32:06,560 Speaker 1: and good morning, Karen. That's right. US futures are quiet 583 00:32:06,640 --> 00:32:09,080 Speaker 1: right now with Dow futures up twenty seven points, sesames 584 00:32:09,120 --> 00:32:11,920 Speaker 1: gained three well mats that futures are up by five, 585 00:32:12,360 --> 00:32:15,000 Speaker 1: the US ten year old at two point eight eight percent, 586 00:32:15,080 --> 00:32:17,800 Speaker 1: Gold is up eight oils in the green, and bitcoin 587 00:32:17,880 --> 00:32:21,719 Speaker 1: is trading higher by half percent. Japan fell one percent overnight, 588 00:32:21,760 --> 00:32:24,040 Speaker 1: while up of markets are trading in the green and 589 00:32:24,160 --> 00:32:26,719 Speaker 1: back in the US on the economic Frinday, thirty initial 590 00:32:26,800 --> 00:32:29,760 Speaker 1: jobs claims and Philly Fed at ten o'clock look for 591 00:32:29,760 --> 00:32:32,640 Speaker 1: existing home sales and after the bell last night, Cisco 592 00:32:32,720 --> 00:32:35,400 Speaker 1: gave an upbeat outlook. Stock is up five percent in 593 00:32:35,400 --> 00:32:38,040 Speaker 1: the pre market and regarding some of the earnings this morning, 594 00:32:38,160 --> 00:32:40,720 Speaker 1: s Day Lauder beat estimates and look for Cole's to 595 00:32:40,760 --> 00:32:43,640 Speaker 1: report in the pre market, rapping things up for Solo 596 00:32:43,760 --> 00:32:47,360 Speaker 1: was raised to equate. Over at Morgan Stanley Live from 597 00:32:47,360 --> 00:32:50,200 Speaker 1: the First Breakings Desk on Bill Maloney, Kerra, all right, well, 598 00:32:50,280 --> 00:32:52,480 Speaker 1: thanks to here live breaking news over your Bloombery Times. 599 00:32:52,480 --> 00:32:54,840 Speaker 1: Squawk on your terminal. I'll ask you a w u K. 600 00:32:55,080 --> 00:32:57,719 Speaker 1: That's a Bloomberg business flash. Now here's Michael Barr with 601 00:32:57,760 --> 00:33:00,520 Speaker 1: more on what's going on around the world. Michael Karon, 602 00:33:00,560 --> 00:33:03,520 Speaker 1: thank you very much. A group of media organizations urge 603 00:33:03,560 --> 00:33:07,320 Speaker 1: to Florida judge to release most of an FBI affidavit 604 00:33:07,840 --> 00:33:10,840 Speaker 1: that helped the Justice Department obtained the search warrant for 605 00:33:10,840 --> 00:33:14,720 Speaker 1: former President Donald Trump Smorrow Logal Resort. D o J 606 00:33:15,120 --> 00:33:18,760 Speaker 1: says the document must remain sealed to protect the investigation. 607 00:33:19,320 --> 00:33:22,080 Speaker 1: The U S And Taiwan will start formal talks on 608 00:33:22,120 --> 00:33:25,200 Speaker 1: a trade and economic initiative, following through on a long 609 00:33:25,240 --> 00:33:28,160 Speaker 1: planed promise to deepen ties and mid opposition from China 610 00:33:28,600 --> 00:33:32,040 Speaker 1: and baseball. The Yankees one with a dramatic grand slam 611 00:33:32,080 --> 00:33:34,920 Speaker 1: against the Raise eight seven and ten innings. The Mets 612 00:33:34,960 --> 00:33:38,440 Speaker 1: beat the Braves nine seven, the Red Sox and A's one, 613 00:33:38,960 --> 00:33:42,640 Speaker 1: the Nationals, Orioles and Giants lost. Global news twenty four 614 00:33:42,680 --> 00:33:46,000 Speaker 1: hours a day on here and on Bloomberg Quicktake, powered 615 00:33:46,000 --> 00:33:48,840 Speaker 1: by more than twenty seven hundred journalists and analysts more 616 00:33:48,840 --> 00:33:51,320 Speaker 1: than a hundred, twenty countries. I'm Michael bar and this 617 00:33:51,520 --> 00:33:54,680 Speaker 1: is Bloomberg, Karen Ray, Michael, thank you. Sixty nine on 618 00:33:54,680 --> 00:33:57,200 Speaker 1: Wall Street, we turned to news and science and technology 619 00:33:57,240 --> 00:33:59,840 Speaker 1: Now with the Bloomberg and j I T. Stammer Report, 620 00:34:00,200 --> 00:34:02,840 Speaker 1: brought to you by New Jersey Institute of Technology and 621 00:34:03,080 --> 00:34:05,680 Speaker 1: j I T makes industry ready engineers and more than 622 00:34:05,720 --> 00:34:08,560 Speaker 1: twenty fields. If it's engineering is a n j I T. 623 00:34:08,800 --> 00:34:10,680 Speaker 1: Learn more at n j I T dot E d 624 00:34:10,840 --> 00:34:14,320 Speaker 1: U and Here's just making news and science, Technology, Engineering, 625 00:34:14,360 --> 00:34:17,719 Speaker 1: and math. COVID nineteen survivors remained at higher risk of 626 00:34:17,760 --> 00:34:21,840 Speaker 1: ongoing psychotic disorders and dementia for at least two years. 627 00:34:21,880 --> 00:34:25,719 Speaker 1: According to a study in Lancet Psychiatry. It found cognitive 628 00:34:25,760 --> 00:34:30,600 Speaker 1: deficits like brain fog, seizures and epilepsy remained elevated twenty 629 00:34:30,760 --> 00:34:34,800 Speaker 1: four months later. More than four point eight billion dollars 630 00:34:34,800 --> 00:34:37,919 Speaker 1: has been pumped into the electric vehicle charging industry this year. 631 00:34:38,040 --> 00:34:40,319 Speaker 1: Some of the biggest rollouts this year include a one 632 00:34:40,360 --> 00:34:43,840 Speaker 1: billion dollar announcement by VP and ivor Drolla for eleven 633 00:34:43,880 --> 00:34:47,160 Speaker 1: thousand fast charters across Europe, and a six fifty million 634 00:34:47,239 --> 00:34:50,880 Speaker 1: dollar investment across the US by black Rock, Diameler Truck 635 00:34:50,920 --> 00:34:55,959 Speaker 1: and next Era Energy Resources. And Johannesburg based food maker 636 00:34:56,040 --> 00:34:59,680 Speaker 1: Tiger Brands will install solar power at four manufacturing sites 637 00:34:59,760 --> 00:35:02,040 Speaker 1: by early next year. It's part of a rollout to 638 00:35:02,040 --> 00:35:05,680 Speaker 1: reduce the company's dependence on South Africa's state owned electricity firm, 639 00:35:05,960 --> 00:35:08,600 Speaker 1: which has subjected the country to rolling blackout since two 640 00:35:08,640 --> 00:35:11,520 Speaker 1: thousand eight. Tiger Brands also hopes to reach at zero 641 00:35:11,600 --> 00:35:15,640 Speaker 1: greenhouse gas emissions by that's the Bloomberg and J. I. T. 642 00:35:15,880 --> 00:35:19,360 Speaker 1: Stamm Report. John, Thanks Karen, We're live for the Bloomberg 643 00:35:19,400 --> 00:35:22,520 Speaker 1: Interact to Broker's Studios, where it is now six fifty 644 00:35:22,640 --> 00:35:25,520 Speaker 1: one on Wall Street at its time to check what's 645 00:35:25,520 --> 00:35:27,960 Speaker 1: going on at d C. Some of the top stories 646 00:35:27,960 --> 00:35:31,480 Speaker 1: in our nation's capital include the Trump warrant, judge being 647 00:35:31,560 --> 00:35:35,120 Speaker 1: urged to release most of the FBI aid David Rudy 648 00:35:35,160 --> 00:35:39,200 Speaker 1: Giuliani appears before the Georgia grand jury in the election probe, 649 00:35:39,560 --> 00:35:42,600 Speaker 1: US Taiwan trade talks they kick off in a long 650 00:35:42,680 --> 00:35:46,279 Speaker 1: plant counter to China, the Biden freeze on oil and 651 00:35:46,320 --> 00:35:50,719 Speaker 1: gas leasing reinstated for now, and finally, how a Bloomberg 652 00:35:50,719 --> 00:35:54,600 Speaker 1: reporters family escaped the Taliban. Let's take a deeper dive 653 00:35:54,640 --> 00:35:59,160 Speaker 1: into these stories this morning with Bloomberg Washington corresponded Amory Hordern, 654 00:35:59,360 --> 00:36:04,080 Speaker 1: who joins, is now, what's the latest in the Trump 655 00:36:04,160 --> 00:36:08,160 Speaker 1: warrant for the search warrant for Mara Lago, Whether or 656 00:36:08,200 --> 00:36:11,040 Speaker 1: not the details are going to be released right, So 657 00:36:11,080 --> 00:36:13,640 Speaker 1: we're waiting for the affid David. Potentially there's going to 658 00:36:13,719 --> 00:36:16,160 Speaker 1: be a hearing about this in Florida today, This Florida 659 00:36:16,200 --> 00:36:19,200 Speaker 1: judge who released the warrant. There's been a number of 660 00:36:19,280 --> 00:36:23,120 Speaker 1: media organizations filing these requests to have them released. The 661 00:36:23,160 --> 00:36:27,120 Speaker 1: FBI affidavit that then helped the Justice Department obtained that 662 00:36:27,200 --> 00:36:29,920 Speaker 1: search warrant. We've also heard from the Trump camp. Trump 663 00:36:29,920 --> 00:36:32,560 Speaker 1: on Truth Social said, yes, released the affidavit, but they 664 00:36:32,560 --> 00:36:36,239 Speaker 1: had not signed a request. But we do know from 665 00:36:36,360 --> 00:36:39,120 Speaker 1: last week that the d o J feels that this 666 00:36:39,200 --> 00:36:42,360 Speaker 1: is not the appropriate step forward. They think, uh, it 667 00:36:42,440 --> 00:36:46,840 Speaker 1: could potentially hurt the investigation. Um and if there was 668 00:36:46,880 --> 00:36:49,120 Speaker 1: to be even one that was redacted, it wouldn't even 669 00:36:49,160 --> 00:36:52,120 Speaker 1: be worth sending. But really, media companies say that the 670 00:36:52,239 --> 00:36:55,600 Speaker 1: public has a clear and powerful interest. So all eyes 671 00:36:55,600 --> 00:36:57,719 Speaker 1: are gonna be on this hearing at one pm to 672 00:36:57,880 --> 00:37:02,120 Speaker 1: find out potentially if this document will remain under seal 673 00:37:02,600 --> 00:37:07,359 Speaker 1: and protection of investigation or we get more info. This 674 00:37:07,400 --> 00:37:11,120 Speaker 1: is the roadmap to why they went in to mar 675 00:37:11,239 --> 00:37:14,800 Speaker 1: Lago to retrieve those documents. And there are two important 676 00:37:14,800 --> 00:37:16,839 Speaker 1: things at stake here that whether or not you could 677 00:37:16,920 --> 00:37:20,279 Speaker 1: jeopardize an actual investigation and then the public's right to 678 00:37:20,320 --> 00:37:25,080 Speaker 1: know the transparency surrounding. Difficult line. Yeah, um, the former 679 00:37:25,120 --> 00:37:28,840 Speaker 1: mayor um of New York City appearing before a grand 680 00:37:29,040 --> 00:37:31,719 Speaker 1: jury in the election probe. What don't we know out 681 00:37:31,760 --> 00:37:34,759 Speaker 1: of that? I mean grand jury proceedings their secret right, 682 00:37:34,840 --> 00:37:39,040 Speaker 1: so we don't know A lot hours behind being questioned yesterday, 683 00:37:39,520 --> 00:37:42,600 Speaker 1: part of this grand jury proceeding UM. The New York 684 00:37:42,640 --> 00:37:45,000 Speaker 1: Times and report that the lawyer for Giuliani, though declined 685 00:37:45,000 --> 00:37:47,400 Speaker 1: to say whether he answered any of the questions, so 686 00:37:47,400 --> 00:37:51,319 Speaker 1: you don't actually know much of what was asked and 687 00:37:51,400 --> 00:37:55,359 Speaker 1: what the former mayor was willing to give. UM. Let's 688 00:37:55,400 --> 00:37:59,640 Speaker 1: move on to Taiwan trade talks with the United States. 689 00:38:00,360 --> 00:38:03,280 Speaker 1: I get the sense that somebody's just really trying to 690 00:38:03,320 --> 00:38:07,359 Speaker 1: get China really angry here. But these are probably nothing new. 691 00:38:07,480 --> 00:38:09,919 Speaker 1: I mean, we knew this was gonna happen, right, It's 692 00:38:09,920 --> 00:38:12,719 Speaker 1: not nothing. It isn't anything new. We knew this was 693 00:38:12,760 --> 00:38:15,279 Speaker 1: coming out. This is official now talking about when they're 694 00:38:15,280 --> 00:38:18,680 Speaker 1: going to start UM the formal talks on this trade 695 00:38:18,680 --> 00:38:21,840 Speaker 1: and economic initiative. They have been long planned, so we 696 00:38:21,880 --> 00:38:24,000 Speaker 1: know that we'll have the first talks in earlier this fall. 697 00:38:24,600 --> 00:38:28,920 Speaker 1: The timing, though, as you say, is interesting, because obviously 698 00:38:29,040 --> 00:38:33,000 Speaker 1: China is very upset with the United States. The United 699 00:38:33,040 --> 00:38:36,799 Speaker 1: States has what China would say, provoked Beijing given what 700 00:38:36,880 --> 00:38:39,320 Speaker 1: we have seen in terms of Speaker Pelosi's visit and 701 00:38:39,360 --> 00:38:41,879 Speaker 1: then Senator and Marky's visit. So the Ministry of China 702 00:38:41,920 --> 00:38:45,120 Speaker 1: Affairs is now warning the US against doing any deal 703 00:38:45,600 --> 00:38:48,720 Speaker 1: that could imply Tawan the sovereignty. So what they're saying 704 00:38:48,840 --> 00:38:51,279 Speaker 1: is that even these talks or how they handle any 705 00:38:51,280 --> 00:38:56,200 Speaker 1: trade relations, they must respect China's core interests. So potentially 706 00:38:56,200 --> 00:38:59,040 Speaker 1: this fuel some of the fire and rhetoric we've seen 707 00:38:59,280 --> 00:39:02,680 Speaker 1: between Washington and and and Beijing. But all in all, 708 00:39:02,760 --> 00:39:06,200 Speaker 1: these talks they're not very substitutive in the sense that 709 00:39:07,360 --> 00:39:12,239 Speaker 1: very much so in Washington you have Congress, the White House. Um, 710 00:39:12,280 --> 00:39:15,560 Speaker 1: there is a lot of talk about wanting to support Taiwan, 711 00:39:15,880 --> 00:39:17,720 Speaker 1: but there's not a lot of talk of people wanting 712 00:39:17,960 --> 00:39:20,319 Speaker 1: lots of free trade deals. And let me wrap up 713 00:39:20,360 --> 00:39:23,720 Speaker 1: with this story. Um, I think it was in Business 714 00:39:23,719 --> 00:39:28,600 Speaker 1: Week how a Bloomberg reporters family escape the Talmiband Amory, 715 00:39:28,719 --> 00:39:32,800 Speaker 1: you wrote this story, and uh, it's an emotional read. Um, 716 00:39:32,840 --> 00:39:37,560 Speaker 1: just in the two minutes we have something's up for everybody. Yeah, well, 717 00:39:37,680 --> 00:39:41,200 Speaker 1: I would love everyone went and read the story. Um 718 00:39:41,280 --> 00:39:44,520 Speaker 1: it is. It was emotional to when we were doing this, 719 00:39:44,600 --> 00:39:47,120 Speaker 1: but I and a group of other individuals at Bloomberg 720 00:39:47,200 --> 00:39:50,319 Speaker 1: really with this pent with the support of Bloomberg, were 721 00:39:50,360 --> 00:39:53,320 Speaker 1: able to help a friend and colleague based in London. 722 00:39:53,320 --> 00:39:57,720 Speaker 1: One of our colleagues family escape Afghanistan, and this was after, 723 00:39:57,960 --> 00:40:01,040 Speaker 1: of course the Fall of Cobble, which the US is 724 00:40:01,080 --> 00:40:06,560 Speaker 1: marking one year this week. And for me really to 725 00:40:06,640 --> 00:40:10,120 Speaker 1: write this piece, so much of it was because even 726 00:40:10,120 --> 00:40:13,799 Speaker 1: though this family had a tremendous amount of support, it 727 00:40:13,880 --> 00:40:19,479 Speaker 1: was so obvious that I witness firsthand how difficult it 728 00:40:19,600 --> 00:40:23,760 Speaker 1: is to be a refugee. And the crisis just continues 729 00:40:23,800 --> 00:40:26,880 Speaker 1: to get worse worldwide, especially now with Ukraine. We've passed 730 00:40:26,880 --> 00:40:29,280 Speaker 1: over a hundred million refugees. It's more than one percent 731 00:40:29,320 --> 00:40:32,839 Speaker 1: of the global population. And there's lots of nose. There's 732 00:40:32,880 --> 00:40:36,840 Speaker 1: lots of false hopes um as you go through this process, 733 00:40:36,960 --> 00:40:41,520 Speaker 1: and many Afghans are still living in limbo, not sure 734 00:40:41,719 --> 00:40:44,560 Speaker 1: if they're going to be able to start a life, 735 00:40:44,640 --> 00:40:47,960 Speaker 1: because what is going on in Afghanistan now since the 736 00:40:48,000 --> 00:40:53,000 Speaker 1: fall of the country is just very dark. Women are 737 00:40:53,040 --> 00:40:57,080 Speaker 1: being sent back home. Girls after the grade six cannot 738 00:40:57,080 --> 00:40:59,719 Speaker 1: go to school anymore. They have to dress like they 739 00:40:59,760 --> 00:41:01,959 Speaker 1: did in the nine nineties when the Taliban was in charge, 740 00:41:02,120 --> 00:41:05,400 Speaker 1: just head to toe burker's burker's. They cannot go out 741 00:41:05,480 --> 00:41:08,719 Speaker 1: to the market or anywhere in public without a male chaperone. 742 00:41:09,239 --> 00:41:12,000 Speaker 1: So for women and girls. It's I've realized it's such 743 00:41:12,040 --> 00:41:14,839 Speaker 1: the central issue talking to experts who even think that 744 00:41:15,120 --> 00:41:17,800 Speaker 1: maybe the Taliban could even get some of their funds 745 00:41:17,840 --> 00:41:22,040 Speaker 1: unlocked or international aid more support if they were too 746 00:41:22,600 --> 00:41:25,920 Speaker 1: start to change in terms of how they are ruling. 747 00:41:26,000 --> 00:41:27,719 Speaker 1: And many say that has to do with human rights, 748 00:41:27,719 --> 00:41:30,000 Speaker 1: and at the core of that is women's rights, and 749 00:41:30,200 --> 00:41:32,600 Speaker 1: our colleague, we should say it's safe and sound with 750 00:41:32,840 --> 00:41:36,120 Speaker 1: this family. At this point, our colleague is still working 751 00:41:36,280 --> 00:41:39,680 Speaker 1: in London and he works for Boomberg Television and his 752 00:41:39,800 --> 00:41:43,800 Speaker 1: family is in Greece. But yes, they reunited. I watched 753 00:41:43,840 --> 00:41:50,000 Speaker 1: them reunite, which was incredibly emotional but also uh amazing 754 00:41:50,000 --> 00:41:53,640 Speaker 1: to watch that all this work the company put into 755 00:41:53,880 --> 00:41:56,359 Speaker 1: reuniting them, that it was able to happen and come 756 00:41:56,360 --> 00:41:58,600 Speaker 1: to fruition because there's many times that you're going through 757 00:41:58,600 --> 00:42:00,960 Speaker 1: this process that you really doubt that you're going to 758 00:42:01,040 --> 00:42:03,400 Speaker 1: get there in the end. Everybody should read that story 759 00:42:03,440 --> 00:42:07,200 Speaker 1: How a Bloomberg Reporters family escaped the Taliban Emory, great job, 760 00:42:07,239 --> 00:42:10,279 Speaker 1: Thanks a lot, appreciated it, um, Emory Hordern. You can 761 00:42:10,320 --> 00:42:13,320 Speaker 1: read more about these stories again on the Bloomberg Bloomberg 762 00:42:13,360 --> 00:42:15,880 Speaker 1: dot Com Bloomberg terminal reminder. You can follow all the 763 00:42:15,960 --> 00:42:19,880 Speaker 1: latest Bloomberg Radio and Washington. That's Bloomberg nine and one 764 00:42:19,920 --> 00:42:24,200 Speaker 1: of five point seven FM HD two ahead of the open. 765 00:42:24,239 --> 00:42:26,480 Speaker 1: On Wall Street, futures in the green, the DAL future 766 00:42:26,480 --> 00:42:29,680 Speaker 1: is up thirty one. Smp E Mini futures four points 767 00:42:29,760 --> 00:42:32,720 Speaker 1: higher than as DANG futures, they were up five points. 768 00:42:32,760 --> 00:42:37,879 Speaker 1: The VIX, the volatility index just slightly elevated back over one. 769 00:42:38,400 --> 00:42:41,040 Speaker 1: The ten year yield at two eighties seven, down two 770 00:42:41,040 --> 00:42:44,760 Speaker 1: basis points. Even listening to Bloomberg Daybreak, I'm John Tucker 771 00:42:44,840 --> 00:42:48,799 Speaker 1: along with Karen Moscown just ahead Bloomberg Surveillance