WEBVTT - Bloomberg Daybreak: May 4, 2022 - Hour 1 (Radio) 0:00:04.000 --> 0:00:07.360 Live from the Bloomberg Interactive Burger Studios. This is Bloomberg 0:00:07.400 --> 0:00:10.960 Daybreak for Wednesday, May fourth, two. Coming up this hour, 0:00:11.360 --> 0:00:15.160 Investors brace for the biggest FED decision in decades. Vice 0:00:15.160 --> 0:00:19.160 President Kamala Harris says women's rights are under attack by Republicans. 0:00:19.520 --> 0:00:23.080 A Trump backed candidate wins in Ohio, and Elon Musk 0:00:23.079 --> 0:00:26.280 reportedly planned to take Twitter public again in a few years. 0:00:27.040 --> 0:00:30.720 North Korea has launched another missile. Plus, comedian Dave Chappelle 0:00:30.760 --> 0:00:34.599 was attacked on stage. I'm Michael blar More Ahead, I'm 0:00:34.640 --> 0:00:36.879 John stash Our Sports Double Letters sweep for the max 0:00:37.000 --> 0:00:39.800 eleventh straight win for the Yankees. The Rangers lost Game 0:00:39.840 --> 0:00:45.360 one of the Penguins in triple overtime. That's all training 0:00:45.360 --> 0:00:49.280 ahead on Bloomberg Daybreak on Bloomberg eleven, Free on New York, 0:00:49.479 --> 0:00:54.160 Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, 0:00:54.440 --> 0:00:58.600 Bloomberg nine sixties and Francisco, Syrias x AM one nine 0:00:58.640 --> 0:01:01.920 team and around the world on Bloomberg Radio dot Com 0:01:01.960 --> 0:01:08.400 and via The Bloomberg Business That Good morning, I'm Nathan 0:01:08.440 --> 0:01:11.720 Hager and I'm Karen Moscow and US Dock Index futures 0:01:11.720 --> 0:01:13.920 are higher this morning. We are coming up to find 0:01:13.920 --> 0:01:15.720 out what on Wall Street, and we check the markets 0:01:15.720 --> 0:01:18.679 every fifteen minutes throughout the trading day on Bloomberg and 0:01:18.760 --> 0:01:22.199 right now, SNP futures are up eleven points down Future 0:01:22.280 --> 0:01:25.000 is up seventy three and nasdack future is up twenty three. 0:01:25.080 --> 0:01:27.480 The ten year treasury up to thirty seconds, he L 0:01:27.560 --> 0:01:30.120 two point nine six percent, and the yield on the 0:01:30.160 --> 0:01:32.600 two year two point seven eight percent, and nine X 0:01:32.640 --> 0:01:34.680 screwed oil is up three and a third percent. It's 0:01:34.680 --> 0:01:37.960 at a hundred five dollars eighty five cents of barrel. Nathan, Karen, 0:01:38.000 --> 0:01:41.120 we begin this busy morning with the most widely anticipated 0:01:41.200 --> 0:01:45.560 Fed decision in years. Today's rate hike is just the beginning. 0:01:45.600 --> 0:01:48.800 That's according to former I m F Chief economist Kenneth Rogoff. 0:01:49.080 --> 0:01:51.880 I think the idea that just to three percent would 0:01:51.880 --> 0:01:55.280 be enough really unlikely. I think they're going to have 0:01:55.640 --> 0:01:58.640 to raise interest rates to four or five percent to 0:01:58.960 --> 0:02:01.520 bring inflation down to two and a half for three 0:02:02.280 --> 0:02:05.320 Former I m F Chief economist Kenneth Rogoff says inflation 0:02:05.400 --> 0:02:07.600 is now running it more than three times the central 0:02:07.600 --> 0:02:10.600 banks two percent target. We get more on this afternoon's 0:02:10.600 --> 0:02:13.720 FED decision from Bloomberg's Michael McKee. There may be more 0:02:13.840 --> 0:02:16.440 questions about how the markets will react to the FED 0:02:16.520 --> 0:02:19.560 than about what the Fed will do. A half percentage 0:02:19.600 --> 0:02:21.720 point rate hike is all but certain. The Fed will 0:02:21.760 --> 0:02:24.240 also outline how and when it will begin reducing the 0:02:24.280 --> 0:02:26.919 size of its balance sheet, but it already put most 0:02:26.960 --> 0:02:29.400 of those details into the minutes of their March meeting. 0:02:29.720 --> 0:02:33.480 Investors have already priced in both outcomes, so any market 0:02:33.520 --> 0:02:36.880 move likely depends on the Fed, particularly Chairman j Powell 0:02:37.280 --> 0:02:41.200 offering specific future guidance saying perhaps the Central Bank will 0:02:41.280 --> 0:02:43.760 raise rates by the same amount several times in a row, 0:02:44.400 --> 0:02:48.760 or Powell delivering a surprise, say, suggesting seventy five bases 0:02:48.800 --> 0:02:53.480 point hikes could be on the horizon. Michael McKee, Bloomberg Debris. Alright, Mike, thanks, So, 0:02:53.480 --> 0:02:55.840 of course we will have full coverage and analysis of 0:02:55.880 --> 0:02:58.639 the FED decision beginning at one pm Wall Street Time 0:02:58.680 --> 0:03:01.840 on a special edition of Bloomberg Surveillance. Well, the other 0:03:01.880 --> 0:03:05.560 big issue in Washington right now, Nathan, is abortion rights, 0:03:05.680 --> 0:03:08.959 following news that the Supreme Court may strike down Roe v. Wade. 0:03:09.080 --> 0:03:12.400 Vice President Kamala Harris is warning that women's rights are 0:03:12.480 --> 0:03:15.280 under attack. How dare they tell a woman what she 0:03:15.360 --> 0:03:19.440 can do and cannot do with her own body? How 0:03:19.560 --> 0:03:24.119 dare they? How dare they try to stop her from 0:03:24.160 --> 0:03:28.200 determining her own future. Vice President Harris spoke at the 0:03:28.200 --> 0:03:31.720 annual Emily's List conference in Washington. John del Volpe as 0:03:31.800 --> 0:03:35.560 director of polling at the Harvard Kennedy School Institute of Politics, 0:03:35.560 --> 0:03:39.160 and he says the leaked opinion could reshape the midterm elections. 0:03:39.480 --> 0:03:43.560 This is likely to be highly motivational for specifically young 0:03:43.600 --> 0:03:47.400 people who are unsure whether or not they're going to participate, because, um, 0:03:47.640 --> 0:03:50.800 they can now see in very tangible ways the difference 0:03:50.920 --> 0:03:54.400 than engagements mix and John de la Volpi of Harvard 0:03:54.440 --> 0:03:57.520 spoke at our Washington correspondent Joe Matthew on Bloomberg's Sound 0:03:57.560 --> 0:04:01.000 on Cash, the show weekdays at five pm Eastern Bloomberg Radio. 0:04:01.120 --> 0:04:04.160 And we should note the Supreme Court has confirmed the 0:04:04.240 --> 0:04:08.080 leaked opinion is authentic, but says it's not the Justice's 0:04:08.120 --> 0:04:11.560 final decision. We have another major political story this morning. Karen, 0:04:11.600 --> 0:04:14.920 a candidate backed by former President Donald Trump, has won 0:04:15.040 --> 0:04:18.920 the Ohio Senate Republican primary. Amy Morris has details from 0:04:18.920 --> 0:04:23.400 our Bloomberg newsroom in Washington. Venture capitalist J. D. Vance 0:04:23.480 --> 0:04:26.520 won the GOP primary in Ohio after trailing in the 0:04:26.560 --> 0:04:29.599 polls just three weeks ago, and he knew who to thank. 0:04:29.720 --> 0:04:34.000 I have absolutely got to thank the President United States 0:04:34.000 --> 0:04:38.000 Donal J. Trump. Ladies and gentlemen. Vance had called Trump 0:04:38.160 --> 0:04:41.760 unfit and noxious. In now he fully embraces him and 0:04:41.839 --> 0:04:44.960 his views. Analysts gosh and against reading too much into 0:04:45.000 --> 0:04:47.960 the outcome of just one race. Trump's endorsements will be 0:04:48.000 --> 0:04:51.920 tested in coming weeks with GOP primaries and states including Pennsylvania, 0:04:52.000 --> 0:04:56.080 North Carolina, and Georgia. In Washington on Maybe Morris Bloomberg daybreak, 0:04:56.160 --> 0:04:57.880 All right, Amy, thank you Now. The latest on the 0:04:57.920 --> 0:05:00.880 war in Europe. Russia is ship doing direction and its 0:05:00.920 --> 0:05:03.760 approach to the invasion of Ukraine, and Bloomberg's at Baxter 0:05:03.839 --> 0:05:06.600 reports this is nearly ten weeks into the war. On 0:05:06.640 --> 0:05:10.159 whether it's military installed in many areas, including just marginal 0:05:10.240 --> 0:05:13.560 gains in the East, Russia is now focused on annexation 0:05:13.640 --> 0:05:17.039 of the areas it is occupied. The Kremlin is installing 0:05:17.040 --> 0:05:21.320 occupation governments, ordering locals to use rubles for transactions. And 0:05:21.360 --> 0:05:24.520 in some cases organizing referendums to open the way for 0:05:24.640 --> 0:05:28.880 full annexation in public. The Kremlin says their advance will 0:05:28.960 --> 0:05:33.360 pick up, but for now this action is necessary. In 0:05:33.440 --> 0:05:36.880 San Francisco, I'm at Baxter Bloomberg Daybreak, alright, ed, Thanks 0:05:36.920 --> 0:05:39.560 On Wall Street Today, earnings continue to roll in For 0:05:39.600 --> 0:05:42.599 a look at some stocks on the move following yesterday's reports, 0:05:42.640 --> 0:05:45.120 were joined live by Bloomberg's John Tucker. Good morning, John, 0:05:45.160 --> 0:05:48.040 Good morning, Nathan. Lift is poised to wipe out more 0:05:48.080 --> 0:05:50.200 than a quarter of its market valuation after the right 0:05:50.240 --> 0:05:55.000 heiling company's second quarter outlook disappointed. Lift down twenty of 0:05:55.040 --> 0:05:58.080 the pre market. A plant increase in driver incentives could 0:05:58.160 --> 0:06:01.599 weigh on profits. In advanced micro devices gave US strong 0:06:01.680 --> 0:06:04.039 sales for a cast for the current quarter. The chip 0:06:04.040 --> 0:06:07.160 maker continues to make gains in computer data centers a 0:06:07.320 --> 0:06:10.440 m D A five percent in early trading at Starbucks 0:06:10.480 --> 0:06:14.480 reported US results that topped estimates those shares of four percent. 0:06:14.680 --> 0:06:17.880 Live in New York, I'm John Tucker, Bloomberg Daybreak, All right, John, 0:06:17.920 --> 0:06:20.360 Thank you. All more news this morning on Elon Musk 0:06:20.440 --> 0:06:24.240 and Twitter. Musk reportedly wants to eventually take Twitter public again, 0:06:24.279 --> 0:06:26.800 and we get the latest live from Bloomberg's Randy too Young. 0:06:26.800 --> 0:06:29.440 Good morning, Ready Town, Good morning Karen Elon. Musk says 0:06:29.480 --> 0:06:32.120 he's planning to take an I p O of Twitter 0:06:32.440 --> 0:06:35.960 as little as three years after buying it. That's according 0:06:35.960 --> 0:06:40.080 to Dow Jones, which reports Musk is taking talking with investors, 0:06:40.200 --> 0:06:43.240 including private equity firms, to help lower his twenty one 0:06:43.279 --> 0:06:47.279 billion dollar contribution to the deal. Private equity firms typically 0:06:47.320 --> 0:06:51.120 take publicly traded companies private to fix them out of 0:06:51.160 --> 0:06:54.599 the limelight, then within five years they take them public again. 0:06:55.040 --> 0:06:57.640 Live in New York, I'm ranit a Young Bloomberg Daybreak. 0:06:57.760 --> 0:06:59.960 All right, we need to thank you in a programming note. 0:07:00.080 --> 0:07:02.679 Join us this morning when we speak live with JP 0:07:02.880 --> 0:07:06.160 Morgan Chase CEO Jamie Diamond. It's coming up in a 0:07:06.200 --> 0:07:08.559 little more than our six thirty a m. Wall Street 0:07:08.600 --> 0:07:12.280 time on both Bloomberg Radio and television. Future is moving 0:07:12.320 --> 0:07:15.360 a little bit higher on this FED Decision Day, straight ahead, 0:07:15.360 --> 0:07:18.360 your latest local headlines, and the check of sports. This 0:07:18.840 --> 0:07:24.760 is Bloomberg South, five oh seven on Wall Street. We 0:07:24.840 --> 0:07:27.520 got rained this morning fifty degrees in Central Park and 0:07:27.560 --> 0:07:31.000 an accident on the west side Highway northbound headed Deer One. 0:07:31.280 --> 0:07:33.800 Details coming up in traffic. First Michael bar with more 0:07:33.800 --> 0:07:35.720 on what's going on in New York and around the world, 0:07:35.760 --> 0:07:38.600 came Morning Michael, Good Morning Nathan. Protests were held at 0:07:38.600 --> 0:07:41.400 the Tri State area over the League Supreme Court draft 0:07:41.520 --> 0:07:46.400 decision that would be final would overturn Roe v. Wade. 0:07:46.920 --> 0:07:50.400 Sonia Osorio, president of the New York chapter of the 0:07:50.480 --> 0:07:54.880 National Organization for Women, says state lawmakers they're legalized abortion 0:07:54.960 --> 0:07:58.400 several years ago, knowing this day would come, reproductive rights 0:07:58.440 --> 0:08:01.080 activists in Governor Pummo, we worked very hard on that. 0:08:01.160 --> 0:08:05.760 In we finally passed that after several years of hard work, 0:08:06.000 --> 0:08:10.360 and we did that in anticipation of this week document 0:08:10.720 --> 0:08:14.200 and what is ahead of us. Sonya Surio with now 0:08:14.400 --> 0:08:17.440 says men need to do their part to support abortion rights. 0:08:17.680 --> 0:08:20.480 Women do not get pregnant on their own. New York 0:08:20.480 --> 0:08:24.320 Attorney General Letitia James has long been outspoken about defending 0:08:24.320 --> 0:08:27.680 abortion rights. Now she has publicly disclosed that she had 0:08:27.680 --> 0:08:31.840 an abortion herself almost two decades ago. The Democrat told 0:08:31.840 --> 0:08:34.439 an abortion rights rally that she chose to do so 0:08:34.760 --> 0:08:37.760 when she was a newly elected New York City Council member. 0:08:38.200 --> 0:08:41.280 New York Governor Kathy Hkill reacted to the lead opinion, 0:08:41.880 --> 0:08:44.440 this is something that we have fought against for my 0:08:44.640 --> 0:08:48.479 entire life. In fact, this is a battle my mother's generation. 0:08:49.160 --> 0:08:54.360 It's a battle from my generation, my daughter's generation, and 0:08:54.440 --> 0:08:58.880 it seems like even my three day old grandchild, Sophia's generation, 0:08:58.920 --> 0:09:01.640 will have to be fighting this same fight. Something that 0:09:01.679 --> 0:09:03.600 we had thought we had put to bed a long 0:09:03.640 --> 0:09:07.120 time ago, and I refused to go backwards. Governor Local 0:09:07.200 --> 0:09:11.640 spoke while announcing Representative Antonio Delgado will serve as New 0:09:11.760 --> 0:09:15.520 York's next Lieutenant governor. North Korea has fired a ballistic 0:09:15.520 --> 0:09:19.120 missile towards the East Sea from pyong Yang. South Korea 0:09:19.160 --> 0:09:21.520 will inaugurate a new president next week, who is known 0:09:21.520 --> 0:09:24.280 to be hard line against the North. Analysts say North 0:09:24.360 --> 0:09:27.840 Korea's military provocations are likely to grow in the near future. 0:09:28.240 --> 0:09:31.680 Comedian Dave Chappelle was tackled on stage at the Hollywood 0:09:31.720 --> 0:09:35.240 Bowl in Los Angeles. It happened as Chappelle was just 0:09:35.360 --> 0:09:38.360 wrapping up his performance. The man was grabbed and punched 0:09:38.360 --> 0:09:41.560 by security guards. Global News twenty four hours a day 0:09:41.679 --> 0:09:44.959 on air and on Bloomberg Quicktake powered by more than 0:09:45.040 --> 0:09:48.280 twenty hundred journalists and analysts more than a hundred, twenty countries. 0:09:48.640 --> 0:09:51.520 Michael bar this is Bloomberg. Nathan all right, Michael, thank 0:09:51.559 --> 0:09:57.880 you five oh nine on Wall Street. Time for the 0:09:57.880 --> 0:10:01.040 Bloomberg Sports up Davire's stunts to showering Hey. Then the 0:10:01.120 --> 0:10:03.600 Rangers first playoff game of the Guard in five years. 0:10:03.679 --> 0:10:06.080 It was a long one. Blue Shirts played a strong 0:10:06.120 --> 0:10:08.040 first period, not something in the second. They let Pittsburgh 0:10:08.040 --> 0:10:11.360 take twenty five shots on gold and score three times 0:10:11.360 --> 0:10:13.920 some Ranger penalties late in the period. Chris Pryder actually 0:10:13.920 --> 0:10:16.280 scored shorthanded, but then the Penguins tied the game, scoring 0:10:16.280 --> 0:10:18.720 with a two man advantage. It was three to three, 0:10:18.800 --> 0:10:22.080 and it stayed that way for the next sixty seven 0:10:22.080 --> 0:10:25.960 minutes of hockey until six minutes into the third overtime 0:10:28.679 --> 0:10:30.640 capping it drifts to the far corner with it up 0:10:30.679 --> 0:10:32.800 the wall. Now back to the point from Melito where 0:10:32.880 --> 0:10:39.160 shot scos get eva Ki plays hero, the Flexi pasties 0:10:39.280 --> 0:10:42.719 circuit and you can slap it on the Broadway marquee. 0:10:42.880 --> 0:10:46.480 The Penguins take Game one and lead this series one. 0:10:46.559 --> 0:10:49.439 Gamed it up xt X in Pittsburgh four three of 0:10:49.480 --> 0:10:51.800 the final. That goal came on the penguins eighty third 0:10:51.880 --> 0:10:54.240 shot of the night. Rangers and their fans thinking about 0:10:54.240 --> 0:10:56.720 what happened with three minutes left in regulation, a Ranger 0:10:56.760 --> 0:11:00.199 goals taken away. After the Penguins challenge, the official ones 0:11:00.280 --> 0:11:03.079 agreed there was goalie interference. Seemed like some evidence that 0:11:03.120 --> 0:11:05.680 it may have been caused by the Pittsburgh defenseman. They're 0:11:05.679 --> 0:11:08.000 back of the Garden for game to tomorrow. Yankees back 0:11:08.000 --> 0:11:10.839 in Toronto tonight, going for another series sweep and a 0:11:11.000 --> 0:11:13.160 twelve win in a row. They pulled away last night 0:11:13.200 --> 0:11:15.200 one nine to one, story in all, nine runs over 0:11:15.200 --> 0:11:17.760 the last quarter and names Aaron Judge got him going 0:11:17.800 --> 0:11:19.680 his eighth home run in the last ten games. Ganks 0:11:19.679 --> 0:11:21.880 put it away with six runs in the seventh. An 0:11:21.880 --> 0:11:24.240 he double header sweep for the Mets over Atlanta, first five, 0:11:24.320 --> 0:11:27.720 four and then three nothing behind Carlos Carrasco NBA Playoffs 0:11:27.760 --> 0:11:31.000 Boston blew out in Milwaukee, Memphis Speed Golden State. John 0:11:31.000 --> 0:11:33.679 Brandt scored forty seven. Both those series tied at one. 0:11:34.000 --> 0:11:37.080 John Stashi Award, Bloomberg Sports, Nathan all Right, John, thank 0:11:37.160 --> 0:11:39.120 you right now. S and p futures are higher by 0:11:39.160 --> 0:11:42.520 seven point. Staff futures up forty seven, NANSAC futures up ten, 0:11:42.640 --> 0:11:45.720 and the tenure treasury is up to thirty seconds. The 0:11:45.800 --> 0:11:49.120 yield two point nine six per cent as we await 0:11:49.200 --> 0:11:52.840 the May decision and expected fifty basis point hike from 0:11:52.880 --> 0:11:56.920 the Fed just ahead the abortion factor and the Trump 0:11:57.000 --> 0:11:59.959 factor in this year's mid term elections. Will speak live 0:12:00.000 --> 0:12:04.120 with Bloomberg Washington correspondent Anne Marie Or during This is 0:12:04.160 --> 0:12:09.560 Bloomberg Bloomberg Day Break, brought to you by the New 0:12:09.600 --> 0:12:11.640 York Community Trust. Your name will live on as a 0:12:11.720 --> 0:12:13.800 champion of the causes you care about for years to 0:12:13.840 --> 0:12:16.959 come through a charitable request to the New York Community Trust. 0:12:17.120 --> 0:12:23.880 Learn more at Philanthropist dot NYC markets headlines and breaking 0:12:23.920 --> 0:12:26.800 news twenty four hours a day at Bloomberg dot Com, 0:12:26.880 --> 0:12:30.439 at the Bloomberg Business Outland at Bloomberg Quick Tape is 0:12:30.480 --> 0:12:39.520 a Bloomberg Business Lash and I'm Karen Moscow. US dot 0:12:39.559 --> 0:12:42.439 Index futures are on the rise. This morning, Investors are 0:12:42.480 --> 0:12:45.200 bracing for the biggest Federal Reserve interest rate heights since 0:12:45.200 --> 0:12:48.160 two thousand and awaiting more clues on how aggressively the 0:12:48.200 --> 0:12:51.480 federal tackle inflation. We check the markets every fifteen minutes 0:12:51.520 --> 0:12:54.439 throughout the trading day on Bloomberg. Right now, SNP futures 0:12:54.440 --> 0:12:57.640 are up nine points, DW Future is up sixty, nastack 0:12:57.720 --> 0:13:00.520 future is up fourteen. The decks inured many is down 0:13:00.559 --> 0:13:02.839 a third of a percent. The ten your Treasury is 0:13:02.880 --> 0:13:05.400 of one thirty second you two point nine six percent. 0:13:05.440 --> 0:13:08.080 The yield on the two year two point seven nine percent. 0:13:08.480 --> 0:13:10.920 NIMEX screwed oil is up three and a third percent 0:13:10.960 --> 0:13:13.040 of three dollars forty four cents at a hundred five 0:13:13.080 --> 0:13:15.719 dollars eighty five cents in barrel. Comex s Gold is 0:13:15.760 --> 0:13:18.360 down to ten percent or three dollars at eighteen sixty 0:13:18.400 --> 0:13:21.360 seven sixty an ounce. The Euro one point oh five 0:13:21.440 --> 0:13:24.680 to four against the dollar, British pound one point to zero, 0:13:25.120 --> 0:13:27.160 and the end is at one thirty point oh seven 0:13:27.160 --> 0:13:30.120 and Bitcoin is up more than three percent at thirty 0:13:30.200 --> 0:13:33.360 eight thousand, nine hundred fifty dollars. And as a Bloomberg 0:13:33.360 --> 0:13:36.240 Business flashow, here's Michael Barrow with more on what's going 0:13:36.280 --> 0:13:38.719 on around the world. Muncle Good morning, Good morning here 0:13:38.760 --> 0:13:41.760 in a Los Angeles protest over to the laked u 0:13:41.880 --> 0:13:44.920 S Supreme Court draft opinion and would throw out Roe v. 0:13:45.080 --> 0:13:48.800 Wade briefly turned into a skirmish with police, who they 0:13:48.840 --> 0:13:52.360 say one officer was injured. Authorities say about two fifty 0:13:52.400 --> 0:13:55.679 people had been marching peacefully four abortion rights before the clash. 0:13:56.080 --> 0:13:59.319 It was the only violence reported among protesters held around 0:13:59.320 --> 0:14:02.320 the country. The largest in Washington, d C. Drew about 0:14:02.320 --> 0:14:04.920 the thousand people to a rally in front of the 0:14:04.960 --> 0:14:08.440 Supreme Court. In a couple of game ones in the 0:14:08.559 --> 0:14:11.920 NHL playoffs, the Rangers lost in triple over time to 0:14:12.000 --> 0:14:14.720 the Penguins for three. The Capitols beat the Panthers four 0:14:14.760 --> 0:14:18.160 to In the NBA playoffs, the Celtics are tied at 0:14:18.200 --> 0:14:21.040 a game each after beating the Bucks one oh nine six. 0:14:21.440 --> 0:14:24.480 The Warriors lost to the Grizzlies in Game two one 0:14:24.520 --> 0:14:27.080 oh six, one oh one. That series is even at 0:14:27.080 --> 0:14:29.600 a game of peace. Global News twenty four hours a 0:14:29.720 --> 0:14:32.560 day on air and on Bloomberg Quickdake, powered by more 0:14:32.840 --> 0:14:35.920 than twenty seven hundred journalists analysts more than dwenty countries. 0:14:35.960 --> 0:14:39.360 I'm Michael bar This is Bloomberg. Nathan. Hi, Michael, thank you. 0:14:39.400 --> 0:14:42.119 It's five nineteen on Wall Street Live from the Bloomberg 0:14:42.120 --> 0:14:45.800 Interactive Broker Studios. This is Bloomberg Daybreak. Let's get more 0:14:45.840 --> 0:14:48.320 now on that late Supreme Court decision on Roe v. 0:14:48.400 --> 0:14:51.040 Wade and its potential impact on the mid term elections. 0:14:51.080 --> 0:14:54.000 For that, we're joined by Bloomberg Washington correspondent Emory hord 0:14:54.040 --> 0:14:58.280 Durn from our Bloomberg Studios in Washington, d C. And Marie, 0:14:58.320 --> 0:15:01.320 good morning. I know you've seen firsthand just how much 0:15:01.400 --> 0:15:06.040 this leak decision has galvanized advocates on both sides on 0:15:06.080 --> 0:15:08.840 the steps of the Supreme Court, and we heard very 0:15:08.920 --> 0:15:12.680 strong words last night from Vice President Harris. It seems 0:15:12.680 --> 0:15:17.320 like Democrats have really seized on this issue. Now, yes, absolutely, 0:15:17.360 --> 0:15:20.760 and as you say, last night's Vice President Harris, she 0:15:20.840 --> 0:15:24.560 was scheduled to make this speech, but obviously the tone 0:15:24.680 --> 0:15:28.240 and the content of it completely changed after this league. 0:15:28.400 --> 0:15:30.960 It was the most impassioned, robust speech we've heard so 0:15:31.000 --> 0:15:33.720 far from the administration. She's talking about the fact that 0:15:33.760 --> 0:15:37.080 this would be a direct assault on freedom, on and 0:15:37.120 --> 0:15:39.760 on the fundamental rights of self determination to which all 0:15:39.760 --> 0:15:42.920 Americans are entitled and said how dare they do this 0:15:43.000 --> 0:15:47.600 to women? Um, So this is completely galvanized the Democratic Party. 0:15:47.640 --> 0:15:50.360 At the same time, this is a very partisan issues, 0:15:50.400 --> 0:15:52.600 so you're also seeing a lot of similar rhetoric on 0:15:52.640 --> 0:15:54.720 the right as well. And Nathan, as you said, this 0:15:54.840 --> 0:15:59.080 will now become a hot button election issue and can 0:15:59.120 --> 0:16:02.280 even potentially a clips issues that we thought voters were 0:16:02.280 --> 0:16:04.560 going to go to the polls for things like inflation 0:16:04.640 --> 0:16:08.200 because of higher grocery bills and gas bills. Now potentially 0:16:08.600 --> 0:16:11.400 this is going to be a number one issue for 0:16:11.440 --> 0:16:14.920 some Americans going out to vote. Yes, some, but who 0:16:14.960 --> 0:16:18.160 knows at this point whether it'll be all Americans who 0:16:18.200 --> 0:16:21.880 are galvanized by this. Where do you swing voters, where 0:16:21.920 --> 0:16:25.520 do you suburban voters stand on this issue, and whether 0:16:25.680 --> 0:16:28.640 it drives them to the polls in November. Well, when 0:16:28.680 --> 0:16:30.760 you look at the polls over years, over the decades, 0:16:30.840 --> 0:16:34.680 they pretty much maintained the fact that most Americans agree 0:16:35.240 --> 0:16:38.040 um that women should have a right to choose. And 0:16:38.280 --> 0:16:41.160 this goes back to Gallup data pure researched. Yesterday, there 0:16:41.200 --> 0:16:45.120 was a Washington Post ABC poll which overwhelmingly showed that 0:16:45.160 --> 0:16:47.600 majority as well. So you're going to see a lot 0:16:47.680 --> 0:16:53.000 of campaign dollars being spent on suburban women. So the 0:16:53.040 --> 0:16:55.800 Democrats have control of the city's Republicans have control of 0:16:55.840 --> 0:16:59.560 the rural areas, and it's potentially suburban women who can 0:16:59.600 --> 0:17:04.440 turn tied for the Democrats, which were potentially and are 0:17:04.480 --> 0:17:08.040 expected um to not do so well in these midterm elections. 0:17:08.440 --> 0:17:11.440 This was the case in two thousand eighteen when suburban 0:17:11.440 --> 0:17:13.800 women came out and they handed a lot of House 0:17:13.840 --> 0:17:16.960 seats to Democrats, and it was a pivotal vote as well, 0:17:17.080 --> 0:17:20.920 suburban women for President Biden versus President Trump. And now 0:17:20.960 --> 0:17:24.200 we're hearing a lot more rhetoric as well about codifying 0:17:24.359 --> 0:17:28.040 Row into law. If this Supreme Court decision does turn 0:17:28.080 --> 0:17:29.800 out to be final, what you should not The Supreme 0:17:29.840 --> 0:17:32.879 Court says it is not final certainly at this point, 0:17:32.960 --> 0:17:35.800 but there is a steep hill to climb when it 0:17:35.840 --> 0:17:40.679 comes to codifying anything regarding abortion rights with a Senate. 0:17:41.640 --> 0:17:44.600 That's exactly right. So the President made his case yesterday 0:17:44.600 --> 0:17:46.320 and this was one of the points he said, if 0:17:46.359 --> 0:17:49.000 this was to be struck down the nineteen seventy three law, 0:17:49.359 --> 0:17:52.920 then it is up to legislatures as well as voters 0:17:53.000 --> 0:17:56.040 to make sure that they put those legislators in power 0:17:56.440 --> 0:17:59.080 to codify this into law. But of course, you know, 0:17:59.640 --> 0:18:02.720 fifty fifty very slim majority the Democrats have with the 0:18:02.800 --> 0:18:06.720 VP making a tiebreaking vote, and the issue they have 0:18:07.040 --> 0:18:09.880 is that there are Democratic senators who do not want 0:18:09.920 --> 0:18:12.840 to get away with the filipbuster for this issue, and 0:18:12.880 --> 0:18:16.399 that has really been a contentious issue on Capitol Hall. 0:18:16.560 --> 0:18:20.680 Yesterday we saw a number of We saw lawmakers Alexandro 0:18:20.760 --> 0:18:25.000 Casio Cortez as well as Sander Sander Sanders go after 0:18:25.280 --> 0:18:30.480 Democrats like Kirsten Cinema who are for codifying abortion rights 0:18:30.480 --> 0:18:33.119 into law but are not for getting rid of the filibuster. 0:18:33.480 --> 0:18:35.320 We have about a minute left here in Marie. We've 0:18:35.359 --> 0:18:39.679 already seen a mid term election last night, in the 0:18:39.760 --> 0:18:43.840 primary election in Ohio. J d Vance is the winner. 0:18:44.000 --> 0:18:49.640 Does this setal former President Trump's hold on GOP voters? 0:18:49.680 --> 0:18:52.160 So analysts are saying, don't read too much into this 0:18:52.480 --> 0:18:56.000 one case, but it is a good point. The fact 0:18:56.000 --> 0:18:59.160 that J. D Vance one, he was trailing a little 0:18:59.160 --> 0:19:01.000 bit in the polls when Trump came in gave him 0:19:01.000 --> 0:19:04.680 that endorsement. Six other individuals he beat out right, He 0:19:04.760 --> 0:19:08.119 defeat defeated six other people. Um So certainly it wasn't 0:19:08.160 --> 0:19:10.240 just a win for J. D Vance. This was a 0:19:10.240 --> 0:19:12.639 win for President Trump, who wants to make sure that 0:19:12.720 --> 0:19:15.280 his name is still out there that candidates he backs 0:19:15.320 --> 0:19:18.679 are getting play all of this as he tries to 0:19:18.760 --> 0:19:21.960 really maintain his hold on the party and also flirt, 0:19:22.000 --> 0:19:24.640 of course, Nathan with that idea that he himself will 0:19:24.680 --> 0:19:27.440 also run for re election. I'm just gonna make it 0:19:27.560 --> 0:19:30.760 all more interesting as we continue with these mid term 0:19:31.000 --> 0:19:33.600 races in some key swing states coming up in just 0:19:33.680 --> 0:19:37.560 a few weeks. Here Ambree Hordern, Washington correspondent for Bloomberg 0:19:37.640 --> 0:19:40.119 Radio and Television. Great having gone with us this morning 0:19:40.400 --> 0:19:42.879 to take a look at all that's happening politically in 0:19:42.880 --> 0:19:45.800 the nation's capital, looking ahead to the market open and 0:19:45.840 --> 0:19:50.120 the FED decision in Washington. Future is moving a touch higher, 0:19:50.160 --> 0:19:53.240 with SMP futures up nine, Doubt futures up sixty five points, 0:19:53.280 --> 0:19:56.280 NASTACK futures up nineteen. We look ahead to the Fed 0:19:56.920 --> 0:19:59.679 in the minutes ahead, and Elon Musk could take Twitter 0:20:00.040 --> 0:20:03.359 blick again eventually. Top stories of the morning coming up 0:20:03.400 --> 0:20:09.080 on Bloomberg day Break Bloomberg eleven three oh Weather rain 0:20:09.160 --> 0:20:11.520 ends are on midday. It'll turn partly Sunday this afternoon 0:20:11.560 --> 0:20:14.360 with a high in the mid sixties low seventies. Tomorrow, 0:20:14.680 --> 0:20:17.240 we'll be back in the low sixties, with showers developing 0:20:17.240 --> 0:20:22.920 by Friday. Right now fifty degrees in Central Park, broadcasting 0:20:23.000 --> 0:20:26.720 live from the Bloomberg Interactive Broker Studio in New York. 0:20:26.840 --> 0:20:31.520 Bloomberg E Living Free to Washington, d C. Bloomberg to Boston, 0:20:31.600 --> 0:20:35.000 Bloomberg one oh six one to San Francisco, Bloomberg non 0:20:35.080 --> 0:20:38.160 sixteen to the country, Sirius XM to the one nineteen 0:20:38.280 --> 0:20:41.800 and around the globe the Bloomberg Business and Bloomberg Radio 0:20:41.920 --> 0:20:51.359 dot Com. This is Bloomberg Daybreak. It's five thirty on 0:20:51.400 --> 0:20:53.920 Wall Street. Good morning. I'm Nathan Hager and I'm fair 0:20:53.960 --> 0:20:56.480 in Moscower, just about four hours away from the open 0:20:56.480 --> 0:20:58.200 of US trading. Let's catch you up to date on 0:20:58.240 --> 0:20:59.879 the news you need to know at this hour. We 0:21:00.040 --> 0:21:02.320 begin with the Federal Reserve, which is expected to raise 0:21:02.359 --> 0:21:06.600 interest rates fifty basis points today. Baronburg Chief Economists Holder 0:21:06.800 --> 0:21:09.480 Older sch Meeting says, the markets already looking for what's 0:21:09.520 --> 0:21:13.040 coming next. The market will listen very closely to anything 0:21:13.359 --> 0:21:16.560 that could give a point to to what the Fed 0:21:16.760 --> 0:21:19.520 does in June and what it may be doing there 0:21:19.560 --> 0:21:22.800 raft which, of course, in these uncertain times, you may 0:21:22.840 --> 0:21:25.200 not get all that much to your guidance, but that's 0:21:25.200 --> 0:21:28.240 what the market will look out for, any guidance on 0:21:28.320 --> 0:21:31.879 what happens next. Barrenburg Chief economist Holger sch Meeting speaking 0:21:31.920 --> 0:21:34.440 with Bloomberg yesterday. We'll have full coverage to the Fence 0:21:34.520 --> 0:21:37.240 decision beginning at one pm All Street Time on a 0:21:37.280 --> 0:21:40.200 special edition of Bloomberg Surveillance. Let's turn out of the 0:21:40.240 --> 0:21:43.040 Supreme Court care and it has confirmed the authenticity of 0:21:43.040 --> 0:21:46.600 elite documents suggesting it could strike down Roe v. Wade. 0:21:46.920 --> 0:21:50.280 Vice President Kamala Harris addressed the issue last night. When 0:21:50.359 --> 0:21:56.600 the right to privacy is attacked, anyone in our country 0:21:57.040 --> 0:22:01.879 may face a future where the government can interfere with 0:22:02.000 --> 0:22:05.760 their personal decisions. Vice President Kamala Harris spoke at the 0:22:05.760 --> 0:22:09.720 annual Emily's List conference in Washington. Overseas, in Ukraine, Nathan 0:22:09.800 --> 0:22:13.520 Russia is now focusing on fully annexing territory it's taken 0:22:13.560 --> 0:22:15.840 in the war. It comes as the EU announces it'll 0:22:15.880 --> 0:22:18.680 ban Russian oil imports by the end of the year. 0:22:18.920 --> 0:22:21.399 Back in the US, Karen, more than forty companies report 0:22:21.440 --> 0:22:23.879 earnings today. For a look at some stocks on the 0:22:23.920 --> 0:22:27.399 move following yesterday's reports, we turn live to Bloomberg's John Tucker, 0:22:27.520 --> 0:22:30.480