Speaker 1: By from the Bloomberg Interactive Burger Studios. This is Bloomberg
Speaker 1: Day Right for a Monday, October seventeen two. Coming up
Speaker 1: this hour, the new UK Chancellor starts laying out plans
Speaker 1: to unwind tax cuts. I define a cheese in pink
Speaker 1: because the world China is ready to stand its ground.
Speaker 1: Earnings continue with Bank of America reporting this morning, and
Speaker 1: Goldman shakes up as leadership ranks. More potential legal trouble
Speaker 1: for former President Trump. Plus Ukraine's capital was under missile
Speaker 1: attack from Russia today. I like the bar More ahead,
Speaker 1: I'm John Stairs showering sports. The Yankees stayed alive with
Speaker 1: a wooden cleave with the decisive Game five is tonight.
Speaker 1: The winds continue for the Jets and Giants. That's all
Speaker 1: Trading ahead on Bloomberg day Break on Bloomberg Eleveing Free
Speaker 1: on New York, Bloomberg nine one, Washington d C, Bloomberg
Speaker 1: one oh six one, Boston, Bloomberg nine sixties and Francisco
Speaker 1: Sirius XM one nineteen and around the world. Old on
Speaker 1: Bloomberg Radio dot Com and via the Bloomberg Business app.
Speaker 1: And good morning. I'm Karen Moscow. I'm Nathan Hagar Bloomberg
Speaker 1: Daybreak is brought to you by being Why Melon's Pershing
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Speaker 1: US futures are higher this morning se so one on
Speaker 1: Wall Street, and we check the markets every fifteen minutes
Speaker 1: throughout the trading day. On Bloomberg Guess and p Future
Speaker 1: is at forty one points down. Future is up two
Speaker 1: D eighty two and nonsday futures up one D thirty
Speaker 1: six and a ten year treasury up seventeen thirty seconds
Speaker 1: yea three point nine four percent. They yield on the
Speaker 1: two year four point four four percent. Nathan Karen, We
Speaker 1: begin in Europe. The pound and UK bonds have been
Speaker 1: rallying on expectations more of Prime Minister Liz Trust's package
Speaker 1: of unfunded tax cuts may be reversed. Newly appointed Chancellor
Speaker 1: Jeremy Hunt makes a statement later this hour. We get
Speaker 1: more from Bloomberg Lizzie Burden in London. It does seem
Speaker 1: like Jeremy Hun is peace by turning pastonomics into unacconomics.
Speaker 1: He's excited to bring forward more fisfal U turned in
Speaker 1: order to calm the market stasicality to pasonomics being solved
Speaker 1: the parts and exchange the market stability. Bloomberg's Lizzie Burton says,
Speaker 1: after Hunt's addressed this morning, he'll make remarks to the
Speaker 1: House of Comments in Asia. Nathan, it's all about China
Speaker 1: this morning. President she Juan Pain said he's staying the
Speaker 1: course is the country faces what he calls dangerous storms
Speaker 1: and growing challenges from the US. In an almost two
Speaker 1: hours speech to open a Communist Party congress, she said
Speaker 1: China will pursue development while ensuring national security. We have
Speaker 1: worked with firm resolve to stay for national security, stended
Speaker 1: off and diffused the major risks, and enshort social stability.
Speaker 1: We have devoted great energy to modernizing our national defense.
Speaker 1: President jan Pain, speaking through an interpreter, also pledge beij
Speaker 1: Jing will prevail and its tech battle with the US
Speaker 1: over computer chips come back here in the US. Karen
Speaker 1: Futures are rising to start the week. It follows another
Speaker 1: sell off on Friday, when the SNP five dropped two
Speaker 1: point four percent Emily Rowland is co chief investment strategist
Speaker 1: at John Hancock Investment Management. It's tough to say we're
Speaker 1: in a recession now with unemployment, you know, near a
Speaker 1: fifty year low, but we're probably going there, and frankly,
Speaker 1: some parts of the market are pricing that in. You know,
Speaker 1: we're down over in equity markets. That's more than two
Speaker 1: thirds of the way there as far as your average
Speaker 1: bear market, but bonds just aren't pricing it in. John
Speaker 1: Hancock's Emily Rowland says inflation has been enemy number one
Speaker 1: for the markets, but Nathan, we could see a rally
Speaker 1: in stocks as according to Morgan Stanley, longtime equity bear
Speaker 1: Mike Wilson, he says stocks are right for a short
Speaker 1: term morally and the absence of earnings capitulation or an
Speaker 1: official recession. Wilson says slump in the SNP five hundred
Speaker 1: this year has lefted testing a serious floor support at
Speaker 1: its two hundred week moving average. He's not ruling out
Speaker 1: the S and P five hundred rising above forty one points.
Speaker 1: That would be about a sixt gain from current levels.
Speaker 1: Inflation and interest rates are still the main focus for
Speaker 1: US markets. Karen st Louis FED President Jim Bullard's leaving
Speaker 1: open the possibility the Central Bank raises interest rates by
Speaker 1: seventy five basis points at each of its next two meetings.
Speaker 1: At the same time, he says it's premature to make
Speaker 1: that call whether the committee would want to pull some
Speaker 1: proposed or thought of policy rate increases from three into
Speaker 1: the December meeting. I think that's a judgments. It's it's
Speaker 1: premature to make St. Louis Fed President Jim Bullard made
Speaker 1: the comments at I m F and World Bank meetings
Speaker 1: over the weekend. Arnies are also a front and center
Speaker 1: this morning. Nathan, we get results from Bank of America shortly,
Speaker 1: and here are the preview as Bloomberg's Jeff Bellinger an.
Speaker 1: Let's say it is unlikely be of a sidestep the
Speaker 1: industry wide drop in investment banking revenue, but there is
Speaker 1: uncertainty over just how much the company's profit margins on
Speaker 1: loans were boosted by the Fed's aggressive series of infrast
Speaker 1: rate hikes. Bloomberg intelligences Bank of America likely benefited from
Speaker 1: CEO Brian moynihan strategy of pursuing responsible organic gains. Lost
Speaker 1: provisions are seen as the biggest factor for next year.
Speaker 1: Jeff Bollinger, Bloomberg Day Break Right, Jeff Banks and miltalk
Speaker 1: Or an ancient Bank of America's CEO Brian moynihan. Later
Speaker 1: this afternoon, catch that interview at two thirty pm Wall
Speaker 1: Street Time on Bloomberg Radio and Television. I meantime, Karen,
Speaker 1: looks like a shakeups coming to Goldman, sachs. We're getting
Speaker 1: more of a third major reorganization in just four years
Speaker 1: under CEO David Solomon. Bloomberg's Lisa Matoe reports. Sources say
Speaker 1: the Wall Street giant plans to once again combine its
Speaker 1: expanded asset management and private wealth business into one unit.
Speaker 1: Goldman will also fuse its investment banking and trading operations
Speaker 1: under one group, and the money losing consumer unit will
Speaker 1: be broken up. The moves mark a reversal for Salmon,
Speaker 1: who had forged ahead with plans to separate the asset
Speaker 1: management and wealth business two years ago, spiked skepticism within
Speaker 1: the bank. He was also reluctant to combine investment banking
Speaker 1: and trading into one group, as the firm looked to
Speaker 1: talk up other fee based businesses to win over shareholders.
Speaker 1: Most visibly, he's disbanding the direct to consumer efforts, cutting
Speaker 1: short the retail banking dreams that he had spelled out
Speaker 1: in his early days as CEO. Lisa Mateo Bloomberg Daybreak.
Speaker 1: At least, thank you, it's not just banks that are
Speaker 1: looking at restructuring this morning, because the every shuffle and
Speaker 1: geopolitics as well. There's worth of White Houses giving its
Speaker 1: security relationship with Saudi Arabia a second look, and we
Speaker 1: get the story from Bloomberg, said Baxter. The two have
Speaker 1: been bumping heads over a number of issues over the
Speaker 1: past few years. The latest that decrease in oil production.
Speaker 1: So now White House National Security Advisor Jake Sullivan says
Speaker 1: things have to move, but with caution. This is a
Speaker 1: relationship that got built over decades on a bipartisan basis,
Speaker 1: and so the President isn't going to act precipitously. He's
Speaker 1: gonna act methodically, strategically and have time to meet with
Speaker 1: members of Congress in San Francisco. I'm at a Baxter
Speaker 1: Bloomberg Daybreak. Thanks that. SMP future is now up forty
Speaker 1: two points. Now futures up three hundred two. NASTAC futures
Speaker 1: are higher by a hundred forty two points and the
Speaker 1: tenure Treasury is up eighteen thirty seconds yield three point
Speaker 1: nine four local headlines and a check of sports. Up next,
Speaker 1: This is Bloomberg six oh seven on Wall Street, fifty
Speaker 1: seven degrees in Central Park, out of crash northbound Connecticut Turnpike,
Speaker 1: Exit fourteen. Details coming up in traffic. First, Michael Barr
Speaker 1: with more on what's going on in New York and
Speaker 1: around the world. Michael, thank you very much. Nathan. There's
Speaker 1: more potential legal trouble for former President Donald Trump. The
Speaker 1: SEC and federal prosecutors in New York has said to
Speaker 1: be investigating whistle blower claims by a co founder that
Speaker 1: Trump Media violated federal securities law. The Trump Media says
Speaker 1: that the whistleblowers acality is ryan with knowingly falls and
Speaker 1: defamatory statements and other concocted cycle dramas. Meanwhile, the Trump
Speaker 1: organization is about to stand trial for tax evasion. The
Speaker 1: Attorney General in New York has accused the company of fraud.
Speaker 1: Explosive latent suicide drones have struck Ukraine's capital as families
Speaker 1: were preparing to start their week. The last echoed the
Speaker 1: cross keeps sending people scurrying to shelters. Keeves mayors as
Speaker 1: the strikes damaged several apartment blocks. Mayor Vitality Kliko says
Speaker 1: today strike was a terror attack Russians. They destroyed all country,
Speaker 1: they destroyed hometown, They killed seas Right now, Mayor Klitchko says,
Speaker 1: the Russians need Ukraine without Ukrainians and that's why they
Speaker 1: killed civilian people. A suspect in a North California serial
Speaker 1: killing spree that claimed the lives of six men will
Speaker 1: be a ragin tomorrow. Police they tips from residents in
Speaker 1: Stockton and Oakland, where the men were murdered, helped them
Speaker 1: identify the suspect. Police arrested forty three year old Wesley
Speaker 1: Brown Lee and Stockton as he was reportedly driving around
Speaker 1: at night looking for another victim. Could we one day
Speaker 1: have a vaccine for cancer? Dr Oslin Terse, one half
Speaker 1: of the German team looking on a cancer vaccine, says
Speaker 1: she is constiously optimistic. As scientists, we are always hesitant
Speaker 1: to say we will have a que for cancer. We
Speaker 1: have a number of breakfuls and we will continue to
Speaker 1: work on them. Still, she tells the BBC. Progress is
Speaker 1: being made every day, every step of every patient we
Speaker 1: treat in all our cancer triots helps us to find
Speaker 1: out law. Dr Tresse adds a cancer vaccine could be
Speaker 1: available by the end of the decade. Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quick Take,
Speaker 1: powered by more than journalist and analysts more than a
Speaker 1: dwenty countries. Michael Barr and this is Bloomberg, Nathan, Thank you,
Speaker 1: Michael six O nine on Wall Street. Time for the
Speaker 1: Bloomberg Sports Update. Here's Jon stash Ower. All right, Nathan.
Speaker 1: Yankees right back in Cleveland the night after blowing that
Speaker 1: two run ninth inning leave the first time in their
Speaker 1: postseason history, and again they led by two bottom the ninth,
Speaker 1: no issues, this time. A four to two Game four
Speaker 1: victory of the Guardians ties the series at two sets
Speaker 1: the stage her decisive Game five tonight at the Stadium.
Speaker 1: Yankee heroes, certainly, Garrett Cole pitched like an eight with
Speaker 1: seven strong innings, and Harrison Bader continues to hit home
Speaker 1: runs like Aaron Judge his third and four games. Yankee
Speaker 1: fans wondered why Clay Holmes didn't pitch Saturday. He did
Speaker 1: pitch the eighth inning last night, Wandy Peralta pitch the
Speaker 1: ninth winner. Tonight plays Houston in the ALCS third Grade
Speaker 1: week where both the Jets and Giants won. The Jets
Speaker 1: with an upset whin. They've yet to be favored in
Speaker 1: a game this season, but three big second half plays
Speaker 1: carried them at Green Bay of Raxton Barrios twenty r
Speaker 1: t d run a block punt with returned for a
Speaker 1: score in the Jets put the game away that Winson
Speaker 1: takes the sneak counter hand off at the thirty touch down,
Speaker 1: a little tiltery side hand off the home some Jet
Speaker 1: fans in the crown and does a Jet lambop, not
Speaker 1: only a Lambeau leap, but later Sauce Gardner was wearing
Speaker 1: a cheese head after they beat the Factors twenty seven
Speaker 1: to ten, Jets for four and two Giants or five
Speaker 1: and one another big comeback and MetLife. They trailed Baltimore
Speaker 1: by ten just over six minutes left down the stretch
Speaker 1: two touchdowns, two fource turnovers. The Giants beat the Ravens
Speaker 1: to twenty. NFC E showdown last night, Philadelphia went to
Speaker 1: six and oh beat Dallas to seventeen on staf that
Speaker 1: went Bloomberg Sportsco. Thank you, John Red Headlines crossing the
Speaker 1: Bloomberg terminal. UK Chancellor of the Exchequer Jeremy Hunt releasing
Speaker 1: a statement reversing more of Prime Minister Liz Trust's economic policies,
Speaker 1: scrapping a plan to cut income taxes indefinitely and shortening
Speaker 1: a universal energy support plan until April of next year.
Speaker 1: We're gonna get reaction next. As we parsed the details
Speaker 1: of this statement. Bloomberg opinion columnist Marcus Ashworth will join
Speaker 1: us in the minutes ahead. As we watched, futures continue
Speaker 1: to rise on Wall Street. This is Bloomberg Bloomberg eleven
Speaker 1: three oh weather, mostly cloudy, chants for a few showers today,
Speaker 1: highs in the upper sixties, mid fifties Tomorrow and Wednesday
Speaker 1: under mostly sunny skies. Right now fifty seven in Central
Speaker 1: Park Markets. Headlines and breaking news twenty four hours a
Speaker 1: day at Bloomberg dot Com, The Bloomberg Business at and
Speaker 1: at Bloomberg Quick Tape is a Bloomberg Business Flash and
Speaker 1: I'm Karen Moscow. And futures are higher with SMP futures
Speaker 1: at forty seven points down. Futures of three hundred thirty
Speaker 1: nasdack futures of one d fifty nine. The decks in
Speaker 1: Germany's up eight tenths of upper cent. Can your treasury
Speaker 1: u seconds you know, three point nine three percent and
Speaker 1: they yield on the two year four point four two
Speaker 1: percent nine Next, screwed oil is up four ten percent
Speaker 1: or thirty four cents at eighty five dollars n cents
Speaker 1: a barrel called make school. That's of nine tenths per
Speaker 1: cent or fourteen dollars forty cents at sixteen sixty three
Speaker 1: twenty announced the euro point nine seven six two against
Speaker 1: the dollar. British found one point one three oh five
Speaker 1: at the N one forty eight point six four and
Speaker 1: bitcoin is a tenth of a percent in nineteen thousand,
Speaker 1: three hundred fifty dollars. That's a bloomberg business flash. Now
Speaker 1: here's Michael Barr with Moore unless going on around the world.
Speaker 1: Michael Karen, thank you very much. Ukraine's capital was under
Speaker 1: missile attack from Russia with the so called suicide drones
Speaker 1: this morning. Several loud explosions rocked Keith. Russian strikes over
Speaker 1: the past week have hit infrastructure, including power facilities. A
Speaker 1: late Pole shows control of the House is likely to
Speaker 1: flip to Republicans with election day more than three weeks away.
Speaker 1: A CBS News You Got polling projection would give Republicans
Speaker 1: a two twenty four to two eleven advantage in the
Speaker 1: House over Democrats. In baseball, the deciding Game five is
Speaker 1: tonight between the Yankees and the Guardians in their a lvs. Yesterday,
Speaker 1: New York survived, beating Cleveland for two in Game four.
Speaker 1: In the NFL, the Giants beat Ravens, the Jets beat
Speaker 1: the Packers ten, the Patriots won forty, Niners lost. Global
Speaker 1: News twenty four hours a day on here and on
Speaker 1: Bloomberg Quick Take, powered by more than twenties seven hundred
Speaker 1: journalists and analysts and more than a hundred twenty countries.
Speaker 1: I'm Michael barn. This is Bloomberg Nathan. Thanks Michael. At
Speaker 1: six nineteen on Wall Street Live from the Bloomberg Interactive
Speaker 1: Broker Studios. This is Bloomberg Daybreak, and we're waiting for
Speaker 1: comments from the new Chancellor of the Exchequer in the UK,
Speaker 1: Jeremy Hunt. But he has released a statement on his
Speaker 1: plans to get his country's finances in order. It's not
Speaker 1: just putting the brakes on Prime Minister Liz Trust is
Speaker 1: unfunded tax cuts, but it's a major reversal here. Let's
Speaker 1: get more now from Bloomberg opinion columnist Marcus Ashworth. As
Speaker 1: we passed through what the new Chancellor is going to say,
Speaker 1: and we know Marcus that income tax cuts are going
Speaker 1: to be shelved indefinitely, and it looks like a universal
Speaker 1: energy support program is going to get cut off a
Speaker 1: lot sooner than Prime Minister Trust wanted. This is a
Speaker 1: torching of the Prime Minister's fiscal plan. Well, we have
Speaker 1: an expressed in the ukake or reverse theerret um and
Speaker 1: essentially this is uh yeah, a complete unwine you turn
Speaker 1: probably doesn't even give it full justice. It's it's a
Speaker 1: scrapping of an entire vision that had been laid out
Speaker 1: throughout the leadership campaign and indeed in the first few
Speaker 1: weeks of office for his Trust. It leads you know,
Speaker 1: there's no justification in theory for her to remain in power. UM.
Speaker 1: But other stability in a sense that no one wants
Speaker 1: a leadership election and yes another prime minister aft of
Speaker 1: four uh finance ministerism in the middle last four months, UM.
Speaker 1: But you know, some of this makes quite a bit
Speaker 1: of sense. A lot of criticism had come of the
Speaker 1: various sources of the UK's energy price capping pan was
Speaker 1: too comprehensive and not targeted sufficiently towards the most needy,
Speaker 1: and the sense it was a blanket um program. Well
Speaker 1: that that that will carry on for this winter m
Speaker 1: baron mind, gas prices have dropped quite sharply, so sell
Speaker 1: the numbers that have been thrown around rather wildly from
Speaker 1: some think tanks and for a certain media sources have
Speaker 1: proved to be perhaps too apocalyptic. But nonetheless, um, clearly
Speaker 1: the government couldn't couldn't really justify putting as such a
Speaker 1: huge blanket over all all energy costs, and it wasn't
Speaker 1: necessarily very good, uh, you know a sense of the
Speaker 1: planets either we need to encourage people to reduce the
Speaker 1: consumption of energy as well than just the cost of it.
Speaker 1: So that makes some sense that that that's basically about
Speaker 1: half way, I would say, in and getting to the
Speaker 1: level where we think, um, the Office for Budget Responsibility
Speaker 1: wants to see the burther balance of the books, maybe
Speaker 1: a little bit over halfway include the corporate tax hikes
Speaker 1: in backup and some of the stuff like filling around
Speaker 1: one pencil income tax was never going to get anyone anywhere,
Speaker 1: So I think they just accepted reality. But you know,
Speaker 1: as far as the UK is concerned, this is you know,
Speaker 1: we're back to where we were on the Ritchie sanak
Speaker 1: Um perhaps for the sunly more comprehensive and fundable budget
Speaker 1: halfway there is that enough to give confidence to investors
Speaker 1: in the UK. No, because the political situation is clearly
Speaker 1: very few brile animal remains so um until either there's
Speaker 1: an election or indeed as trust goes. But I mean
Speaker 1: at the point here is this that at least the
Speaker 1: new Chancellor as as as has laid out is you
Speaker 1: know plans quite clearly, very quickly. He's brought things forward
Speaker 1: um and full respect will be given to the Office
Speaker 1: for Budget Responsibility. But you know, there is one notable
Speaker 1: thing about this. You know that there is going to
Speaker 1: be a recession in the UK. There's a risk prim
Speaker 1: in on top of got of UK government borrowing which
Speaker 1: has got to be eradicated. Inflation has got to be controlled.
Speaker 1: Those two things can only mean that the economy will
Speaker 1: go into recession to to to solve both those those
Speaker 1: important things. Getting rid of that risk premium next across
Speaker 1: the borrowing and getting group on inflation will mean that
Speaker 1: the economy will turn down, and that's because there will
Speaker 1: be less government spending, a liver less tax cuts, and
Speaker 1: in some senses that you know that that will hopefully
Speaker 1: could bring guilt yours back under control. Maybe an enable
Speaker 1: inflation has turned down quick and faster, which could mean
Speaker 1: that the interest rates will not have to ride quite
Speaker 1: as high as they might want I might have to do.
Speaker 1: But they are still gonna be rising on November three,
Speaker 1: probably by seventy five basis points, possibly are under basis points.
Speaker 1: That's the day after the Fed moves by a similar amount.
Speaker 1: So you know, there's there is more pain to come
Speaker 1: in the UK, but at least there's some some light
Speaker 1: possibly at the other tunnel. Only thirty seconds left here
Speaker 1: in Marcus. How much pain is ahead for Liz trust
Speaker 1: oh maximum? I mean, you know, if she survives this, uh,
Speaker 1: then it will be only because her party just do
Speaker 1: not want a change right right now, and they're prepared
Speaker 1: to see it through to the election whereby almost certainly
Speaker 1: she will lose power anyway. It's the question whether or
Speaker 1: not they will prepared to go through another another leadership change.
Speaker 1: It is quick and they replace it with something like
Speaker 1: Rishie Sanak, and it can be done very swiftly, and
Speaker 1: I think it will slappen. Thanks Marcus, good having you
Speaker 1: on with us as we wait those comments from Jeremy Hunt.
Speaker 1: But again the statement has come out. Tax cuts shelved
Speaker 1: indefinitely on the income tax side, reversing plans to slash
Speaker 1: dividend tax rates and scrap alcohol duties, and a universal
Speaker 1: energy support is going to expire in April, much sooner
Speaker 1: than expecting. Uh. That is the plan from Jeremy Hunt.
Speaker 1: He says it will raise thirty two billion pounds going
Speaker 1: forward here and looking at the pound this morning, it's
Speaker 1: been strengthening ahead of these expected changes from the Chancellor.
Speaker 1: British pound now trading at one point one to nine
Speaker 1: three against the dollar, futures moving higher more more than
Speaker 1: one percent to across the board. In fact, you're listening
Speaker 1: to Bloomberg daybreak Bloomberg eleven three oh Weather mostly the
Speaker 1: cloudy today, chance for a few showers with high and
Speaker 1: the upper sixties. It will turn mostly sunny and cooler tomorrow,
Speaker 1: mid fifties tomorrow and Wednesday, right now fifty seven degrees
Speaker 1: in Central Park, broadcasting live from the Bloomberg Interactive Broker
Speaker 1: Studio in New York, Bloomberg E Living Free on to Washington,
Speaker 1: d C, Bloomberg nine nine one to Boston, Bloomberg one
Speaker 1: O six one does San Francisco, Bloomberg NUN sixty to
Speaker 1: the country, Sirius XM CHO one nineteen and around the
Speaker 1: globe the Bloomberg Business apt and Bloomberg Radio dot Com.
Speaker 1: This is Bloomberg Daybreak six thirty on Wall Street. Good morning,
Speaker 1: I'm Nathan Hagar and I'm Karen Moscow. We're just about
Speaker 1: three hours away from the open of US trading. Time
Speaker 1: for the five things that you need to notice start
Speaker 1: your day. Brought to you by Interactive Brokers ib k R.
Speaker 1: Event Trader offers a new way to trade futures. Use
Speaker 1: event contract to trade your opinion on yes or no
Speaker 1: questions in KEYCME futures markets. Learn more an event trader
Speaker 1: dot Interactive Brokers dot com. Of First, the pound in
Speaker 1: UK bonds are rallying. That's after new UK Chancellor Jeremy
Speaker 1: Hunt announced plans to scrap tax cuts indefinitely. He's making
Speaker 1: a U turn on Prime Minister list trusts economic agenda,
Speaker 1: although the Prime Minister and I are both committed to
Speaker 1: cutting corporation tax. On Friday, she listened to concerns about
Speaker 1: the mini budgets and confirmed we will not proceed with
Speaker 1: the cut corporation tax announced and Chancellor Hunt will also
Speaker 1: speak to the House of Comments later today. We'll meantime
Speaker 1: in Asia, Karen President Chi Jin Pink says China is
Speaker 1: staying the course as it faces growing challenges from the US.
Speaker 1: At the Communist Party Congress, she touted his economic and
Speaker 1: COVID policies and address Taiwan independence. We have resolutely fort
Speaker 1: against separtism and talent interference, demonstrating our result ability to
Speaker 1: safeguard China's soupeignty and territorial interpret apart Taiwan independence. President
Speaker 1: Ji Jin thinks, speaking through an interpreter, also pledged Beijing
Speaker 1: will prevail in its tech battle with the U S
Speaker 1: over computer chips on Well Street, Nathan, US futures are
Speaker 1: bouncing back from Friday sell off. FED policy remains in focus. St.
Speaker 1: Louis President U. St. Louis FED President Jim Bullard says
Speaker 1: a seventy five basis point hike at each of the
Speaker 1: next two meetings is possible, and that forward guide and
Speaker 1: so will be critical for limiting volatility. We've got the
Speaker 1: repricing dynamic going on. We are asking all of you
Speaker 1: to um take into account the higher rates that have
Speaker 1: to come, take into account that we're going to have
Speaker 1: to get inflation down in the US and get that
Speaker 1: repricing to occur in as orderly a fashion as possible. St.
Speaker 1: Louis FED President Jim Bullard made the comments over the
Speaker 1: weekend at the annual meeting of the I, m F
Speaker 1: and World Bank. On the earning s front, Karen, Bank
Speaker 1: of America reports this morning stick with us. Later today,
Speaker 1: we'll speak with Bank of America CEO Brian moynihan at
Speaker 1: two thirty pm Wall Street time. You can hear the
Speaker 1: full conversation on Bloomberg Radio and TV. And an organization
Speaker 1: I'll shake up is coming to Goldman sax Nathan The
Speaker 1: banks I expected to combine its asset management in private
Speaker 1: wealth business into one unit. It will also fuse its
Speaker 1: investment banking and trading operations. That's the five things that
Speaker 1: you need to know to start your day. Brought to
Speaker 1: you by Interactive brokers, futures are higher. This morning, straight ahead,
Speaker 1: your latest local headlines, plus a check of sports, and
Speaker 1: this is Bloomberg. Thanks Karen on Wall Street. Fifty six
Speaker 1: degrees down in Central Park. Still got that crash northbound
Speaker 1: Connecticut Turnpike, Exit fourteen. Michael Bars here with more on
Speaker 1: what's going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. More potential legal trouble
Speaker 1: for Donald Trump. It's said the SEC and federal prosecutors
Speaker 1: in New York are investigating whistleblower claims. Federal regulators are
Speaker 1: pouring over a complained by a former executive at truth
Speaker 1: Social's parent company, alleging Trump Media and Technology group violated
Speaker 1: securities laws. Truth Social was meant to be a post
Speaker 1: presidency business opportunity in a way for the former president
Speaker 1: to get back on social media. The head of the
Speaker 1: Ukrainian President's office says Kiva was struck by Russia with
Speaker 1: Iranian dronesor vitality Clitico condemns today's strikes. It's here in
Speaker 1: historical center leave. In the last few weeks, Russia has
Speaker 1: been attacking critical civilian infrastructure, power supplies and electricity transmission lines.
Speaker 1: Ambassador of Ukraine to the U, s Axana Markarova, two days,
Speaker 1: no limits and no moral restrictions from from Russian aggressor.
Speaker 1: So we should be prepared for every since. And it's
Speaker 1: actually irrelevant at this point what he says, because this
Speaker 1: partial mobilization has been a big failure. Ambassador Marcar Rovis
Speaker 1: spoke on CBS has faced the nation, which can be
Speaker 1: here at Sundays on Bloomberg. It is debate night in Georgia.
Speaker 1: In the gubernatorial race. Incumbent Republican Brian Kemp will debate
Speaker 1: Democratic challenger Stacy Abrams and libertarian Shane Hazel. A new
Speaker 1: poll show voters on both sides think the future of
Speaker 1: the country is at stake when they vote in November's
Speaker 1: mid term elections. That's according to a new poll from
Speaker 1: the Associated Press and rc Center for Public Affairs Research.
Speaker 1: As we head into Thanksgiving and winter, health officials are
Speaker 1: warning of another COVID surge. Dr John Brownstein, Well, we
Speaker 1: know is this virus continues to evolve and develops mutations
Speaker 1: that are selected for because they can get around immunity
Speaker 1: immunity either through infection or immunity through the vaccines. We
Speaker 1: just don't know the extent at which these sub variants
Speaker 1: will be able to get around. Dr Brownstein spoke to
Speaker 1: ABC good news for the hearing impaired. Starting today over
Speaker 1: the county, hearing aids are being made available on story shelves,
Speaker 1: so the first time ever. Health officials say they will
Speaker 1: help eighty percent of Americans who have avoided getting help
Speaker 1: for their condition. Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quick Take, powered by more
Speaker 1: than twenty seven hundred journalists and analysts more than a
Speaker 1: hundred twenty countries. Michael Barr, This is Bloomberg, Nathan, Thanks Michael.
Speaker 1: Almost six thirty six on Wall Street. John stash Are
Speaker 1: has a Bloomberg Sports updated all Right, Navan. Yankees and
Speaker 1: Guardians play Game five tonight at the Stadium. Winner goes
Speaker 1: to Houston, loser goes home. Jamison Tyon will start for
Speaker 1: the Yanks. He lost Game two of this series and
Speaker 1: relieve it as a starter. Tyone lad the Yanks and
Speaker 1: wins this season. They may use Nestra Cortis and relief,
Speaker 1: and the Guardians are going with a pretty much bulp
Speaker 1: end game. Yanks stay alive with the four to win
Speaker 1: in Game four in Cleveland, Garrett Cole went seventians and
Speaker 1: Harrison Bader hit his third home run in four games two.
Speaker 1: Runch dot in Vader then looked to head to tonight
Speaker 1: visit game lead play. He feel his own driver received
Speaker 1: and that's how he remained dangerous. UM. I don't think
Speaker 1: we wanted any other way to return back to the Bronx. Um.
Speaker 1: So yeah, I mean, we're just excited about the energy
Speaker 1: that we got moving forward and sen tomaws a new day.
Speaker 1: We're just gonna go out there and play our player
Speaker 1: best baseball tellers too. Boone shook up his line up
Speaker 1: a bit last night, player as Waldo Cabrera at shortstop,
Speaker 1: who said they'll do that again tonight. The Giants four
Speaker 1: and thirteen last year five and won this season third
Speaker 1: time where they've come back from a double digit deficits.
Speaker 1: They chilled Baltimore by ten with just over six minutes left.
Speaker 1: Rallied away twenty four to twenty. Daniel Jones to TV
Speaker 1: passes sae Kwana Barkley score the game winners. Set up
Speaker 1: by the Giants first interception of the season, they sealed
Speaker 1: the win forcing a Lamar Jackson fumble of the next
Speaker 1: four games for the Giants very winnable. The Jets are
Speaker 1: four and two. They've also won three in a row
Speaker 1: about twenty seven to ten upset win at Green Bay.
Speaker 1: So the Packers last two weeks with losses to the
Speaker 1: two New York teams of the Jets are three and
Speaker 1: all on the road. They then AFC game won by
Speaker 1: Buffalo scoring with the minute left to events last year's
Speaker 1: playoff loss at Kansas City. The NFC You Show Down
Speaker 1: last night won by Skill on Beat in Philadelphia. Set
Speaker 1: down John dashin Bloomberg Sports. All right, John, thank you.
Speaker 1: It is six thirty seven on Wall Street. Time to
Speaker 1: take a look at stocks, some of the names moving
Speaker 1: in the pre market. Bloomberg Radio and TV Markets correspondent
Speaker 1: Cree Gupta is back with us this morning. And of course,
Speaker 1: right now the focus is on the big U turn
Speaker 1: in the UK, but in China, President Shi Jinping is
Speaker 1: staying the course. Creedy right. The Party Congress, I believe
Speaker 1: their twentieth Annual Party kron at President g reiterating economic
Speaker 1: development is the party's top priority in his speech. This
Speaker 1: is so important because this is actually going to forge
Speaker 1: the way for him to potentially be or for his
Speaker 1: third term and unprecedented, um kind of thing to do
Speaker 1: in China at the moment. What that's doing two stocks
Speaker 1: broadly in China and those ad rs that are reflected
Speaker 1: here is they're boosting them, David, or excuse me, at
Speaker 1: Nathan ex season, it's China, David Weston, Nathan Ali Baba
Speaker 1: is going to be a proxy here, b A b
Speaker 1: as your taker up of two percent, Pin Duo Duo,
Speaker 1: another online company up about two point eight percent at
Speaker 1: the tickers p d D and of course j D
Speaker 1: dot Com j DS your ticker up three point seven percent.
Speaker 1: This is so important because this is coming at a
Speaker 1: time when you have in the United States a lot
Speaker 1: of manufacturing being encouraged to bring brought back online. Nathan,
Speaker 1: we've talked so much about the chip sector. UM, China
Speaker 1: doing the same thing, trying to kind of create a
Speaker 1: cushion for some of the slowdown that they're seeing in
Speaker 1: their property sector as well as their manufacturing sector, not
Speaker 1: to mention their exports sector. So right now it kind
Speaker 1: of seems like this morning, if you are bullish on presidency,
Speaker 1: you are bullish on some of these names. Yeah, we've
Speaker 1: been talking, of course about the possibility of another restructure
Speaker 1: at Goldman Sachs. But there's also potential restructuring happening in
Speaker 1: big media. There absolutely is. Uh you know, it's interesting.
Speaker 1: Fox Core and news Core sent on Friday they were
Speaker 1: exploring options to recombine. Of course, we know that they
Speaker 1: were for a while all part of one company. Analyst
Speaker 1: suggesting a deal is unlikely to solve evaluation problem in
Speaker 1: terms of liquidity, especially right now when there are a
Speaker 1: lot of mergers and acquisitions happening, a lot of money
Speaker 1: in the air. Nevertheless, those shares are moving quite a
Speaker 1: bit in the pre market. Fox Score for example, f
Speaker 1: o x A is your takers down two point seven
Speaker 1: percent in the pre market. News Corps on the other hand,
Speaker 1: and w S a Nathan of about four tenths of
Speaker 1: one percent, and we've got some analysts recommendations to go
Speaker 1: through as well. We absolutely do. We gotta talk about
Speaker 1: PPG Industries up of only about two tens of one
Speaker 1: percent this morning. But Key Bank Capital Markets, initiating coverage
Speaker 1: of the stock, they called an overweight recommendation, saying there's
Speaker 1: probably to be a sharp decline of costs in the
Speaker 1: first half of It's only a couple of months away.
Speaker 1: It kind of blows my mind a little bit, and
Speaker 1: there's saying it's going to help offset some of that
Speaker 1: cyclical volume pressure. Whether or not that continues about the
Speaker 1: rest of the sector is a key question, but for now,
Speaker 1: lifting the shares to the tune about two tenths of
Speaker 1: one percent. As always, thanks for doing this Spoom for
Speaker 1: Gradio TV Markets correspondent Creedy Group Day keeping an eye
Speaker 1: on the individual movers in this pre market. As for
Speaker 1: stocks as a whole, they are headed higher. Some P
Speaker 1: futures up forty points down, futures up, tune to eighty four,
Speaker 1: NASDAC futures higher by a hundred thirty seven points. Bank
Speaker 1: of America up one and a quarter percent ahead of earnings.
Speaker 1: We're gonna have those numbers for you shortly as Bloomberg
Speaker 1: Daybreak continues. You're listening to Bloomberg Radio Bloomberg eleven three
Speaker 1: oh weather, mostly cloudy, chance for a few showers. Hides
Speaker 1: in the upper sixties today, mostly sunny, cooler tomorrow, mid fifties,
Speaker 1: and we'll keep it there Wednesday as well. Fifty six
Speaker 1: is the current temperature in Central Park. Markets. Headlines and
Speaker 1: breaking News twenty four hours a day at Bloomberg dot com,
Speaker 1: the Bloomberg Business Out and at Bloomberg Quicktape is a
Speaker 1: Bloomberg Business Flash, and I'm Karen Moscow. The pound rallying,
Speaker 1: UK bon surging as more Prime Minister Liz Trust is unfunded.
Speaker 1: Tax cuts were reverse. Stocks are rising with investors repairing
Speaker 1: for a number of key earning surpports this week, and
Speaker 1: those include Bank of America those earnings crossing the Bloomberg
Speaker 1: will have full details in just a moment. And we
Speaker 1: checked the markets every fifteen minutes throughout the trading day
Speaker 1: on Bloomberg with SMP futures up forty points down, futures
Speaker 1: up two hundred eighty one and as day futures have
Speaker 1: one hundred thirty nine. The decks in Germany up six
Speaker 1: tenths of a percent, and your treasury up sixteen thirty seconds.
Speaker 1: You have three point nine five percent yield on the
Speaker 1: two year four point four or five percent. NIMEX screwed
Speaker 1: oil is up four tens percent or thirty eight cents
Speaker 1: at eighty five dollars ninety nine cents of barrel COMEXS
Speaker 1: gold there's up three quarters of a percent or twelve
Speaker 1: dollars twenty cents at sixteen sixty one ten an ounce,
Speaker 1: the Euro point nine seven five zero against the dollar
Speaker 1: British found now at one point one two six five
Speaker 1: and the end one forty eight point eight five and
Speaker 1: Bitcoin it's up to tens of a percent at nineteen thousand,
Speaker 1: three hundred fifty dollars. That's a bloomberg business. Fish. Now
Speaker 1: here's Michael Barr with more on what's going on around
Speaker 1: the world. Karen, thank you very much. There are more
Speaker 1: Russian attacks on Ukraine's capital. Officials say he was hit
Speaker 1: this morning by a wave of kamikaze drones, damaging residential
Speaker 1: buildings and killing at least one person in around A
Speaker 1: deadly fire and gunfire erupted inside Tehron's notorious seven prison
Speaker 1: over the weekend. Four people died from smoke inhalation, according
Speaker 1: to officials, and more than sixty injured. The compound is
Speaker 1: holding hundreds of anti government protesters arrested in Iran. In baseball,
Speaker 1: the deciding Game five is tonight between the Yankees and
Speaker 1: the Guardians in their a LDS. Yesterday, New York survived
Speaker 1: beating Cleveland for two in Game four. In the NFL,
Speaker 1: the Giants beat the Ravens, the Jets one, the Patriots won,
Speaker 1: and the forty Niners lost. Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quicktake, powered by
Speaker 1: more than twenty seven hundred journalists and analysts more than
Speaker 1: a hundred twenty countries. Michael Barb, this is Bloomberg, Nathan.
Speaker 1: Thanks Michael. It's sixty nine on Wall Street Live from
Speaker 1: the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak and
Speaker 1: we are continuing to watch earnings from Bank of America
Speaker 1: across the Bloomberg terminal. And here with us to help
Speaker 1: us break them down is Alison Williams, Senior Analysts for
Speaker 1: Global Investment Banks at Bloomberg Intelligence. Alison, good morning. Some
Speaker 1: of the headlines we've seen do indicate that looks like
Speaker 1: beats all around when it comes to trading fixed income
Speaker 1: and net interest income. It does, and so I would
Speaker 1: say that these are sort of in line with the
Speaker 1: higher expectations that we had seen set last week. Net
Speaker 1: interest income is something that I think investors were looking
Speaker 1: for some upside, and the numbers look very strong from
Speaker 1: Bank of America. So what else are you looking at
Speaker 1: in terms of that upside and the outlook going forward.
Speaker 1: So we'll probably here a little bit more on the
Speaker 1: outlook on the on the earnings call UM. But you know,
Speaker 1: the strength of the consumer is something that the bank
Speaker 1: has highlighted. The provision, which gives us an insight into
Speaker 1: how the bank is looking at credit costs for next
Speaker 1: year came in only slightly higher than expected. UM. They
Speaker 1: did have some reserve bill, but that was very moderate,
Speaker 1: and again that would be consistent with comments from Brian
Speaker 1: moynihan that he expects that UM or he referenced his
Speaker 1: research groups um UH expectation that the recession, if it comes,
Speaker 1: will be shallow. Yeah, we got a quote from the CEO,
Speaker 1: Brian moynihan saying strong organic client growth across businesses helped
Speaker 1: to drive revenue up by eight percent. Is that in
Speaker 1: line with expectations? A little above or below? What's what's
Speaker 1: the read? It looks like it's better. I mean, as
Speaker 1: I said that the net interest income I think is
Speaker 1: is really UM where we're seeing the strength. I haven't
Speaker 1: seen that the loan growth numbers yet UM, but certainly
Speaker 1: that the overall numbers signaled that this is healthy UM.
Speaker 1: Fixed income trading is another area that we're watching for
Speaker 1: the banks this quarter that came in above estimates. UM
Speaker 1: equity trading weaker, which is something uh again sort of
Speaker 1: in line with expectations. And they talked about a lot
Speaker 1: of weakness in Asia, which is something that we're hearing
Speaker 1: across the US. Bangs. Yeah, we're watching the shares climb
Speaker 1: on the earnings up two point seven percent in the
Speaker 1: pre market. We're gonna be hearing a lot more this
Speaker 1: afternoon from Bank of America's CEO Brian moynahan. He's gonna
Speaker 1: be joining Bloomberg Radio and Television two thirty pm Wall
Speaker 1: Street time, so you'll definitely want to check back in
Speaker 1: for that conversation. Alison Williams of Bloomberg Intelligence, thanks for
Speaker 1: being here to help us break down some of these earnings.
Speaker 1: As the headlines continued across the terminal, Karen, all right, Nathan,
Speaker 1: it is six fifty one on Wall Street and we
Speaker 1: turned to news and science and technology now with the
Speaker 1: Bloomberg and j i T Stem Report. It has brought
Speaker 1: to you by New Jersey Institute of Technology and j
Speaker 1: I T makes transferring easy leverage your associate's degree into
Speaker 1: a STEM focused bachelor's Learn more at n J I, T, DOT, E,
Speaker 1: d U, slash transfer now Here's Le's making news and science, technology, engineering,
Speaker 1: and math. The iPhone manufacturing manufacturing hub of Jung Joe
Speaker 1: locked down one of its most populated districts to tame
Speaker 1: a virus flare up. Almost one million residents of Jung
Speaker 1: Juan district were ordered to stay at home starting today
Speaker 1: except for when they need to undergo COVID testing, and
Speaker 1: non essential businesses have been shot. iPhone maker Fox Contechnology
Speaker 1: Groups plants are not located in the district that's been
Speaker 1: locked down. Mercedes bands is broadening its battery powered line
Speaker 1: up with a sport utility vehicle that will take on
Speaker 1: Tesla's Model Y and another step toward the automaker's goal
Speaker 1: to go all electric by the end of the decade.
Speaker 1: It's the fourth model to use mercedes dedicated e V platform,
Speaker 1: and French scientists say ancient Mars may have had an
Speaker 1: environmental capability of harboring and underground world teeming with microscopic organisms.
Speaker 1: The researchers concluded, but if they existed, these simplified life
Speaker 1: forms would have all through the atmosphere so profoundly that
Speaker 1: they triggered a Martian ice age and snuff themselves out.
Speaker 1: The study can be found in the journal Nature Astronomy.
Speaker 1: That's the Bloomberg n j I T Stem Report. Nathan,
Speaker 1: all right, Karen, thanks six fifty three on Wall Street. Now,
Speaker 1: time to check what's going on in d C, where
Speaker 1: some of the top stories include the Biden administration defending
Speaker 1: its economic policies even with inflation at a new high.
Speaker 1: Transportation Secretary Pete Botagge was on CBSS Face the Nation.
Speaker 1: He says the president's approaches strengthened the labor market. If
Speaker 1: we hadn't rescued the economy through the American Rescue Plan,
Speaker 1: we would not have had the ten million jobs that
Speaker 1: were created under this president. We wouldn't be seeing some
Speaker 1: of the lowest unemployment numbers in the history of the Republic.
Speaker 1: And Council of Economic Advisors Chair Cecilia Rouse told CNN
Speaker 1: the fed's higher interest rates are starting to beat back inflation,
Speaker 1: but on NBC's Meet the Press, Progressive Senator Bernie Sanders
Speaker 1: said the FED is hurting the economy. It is wrong
Speaker 1: to be saying that the way we're going to deal
Speaker 1: with inflation is by lowering wagers an increasing unemployment. Thought,
Speaker 1: it's not what we should be doing. Also making news,
Speaker 1: the House January six Committee signaling it will enforce its
Speaker 1: subpoena a former President Donald Trump. Republican Adam Kinzinger was
Speaker 1: on ABC's This Week. We made a decision and in
Speaker 1: front of the American people, not behind closed doors, to
Speaker 1: begin the process of subpoena. And in the former president,
Speaker 1: he's required by law to come in and he can
Speaker 1: ramble and push back all he wants. That's the requirement
Speaker 1: for congressional subpoena to come in this week, meet the press,
Speaker 1: and face the nation. Can all be heard every Sunday
Speaker 1: right here on Bloomberg Radio. For more. We are joined
Speaker 1: by Wendy Schiller, director of the Topman Center for American
Speaker 1: Politics and Policy at Brown University. Professor, it's great to
Speaker 1: have you back with us this morning. So here we
Speaker 1: are a little more than three weeks away from the
Speaker 1: mid terms and a very difficult economic message for Democrats.
Speaker 1: I wonder what you make of it. Well, Nathan, it's
Speaker 1: exactly the way you should think about it, which is messaging.
Speaker 1: The Republicans are typically more unified mar coherent, and they
Speaker 1: on messaging, particularly for Mitchell elections, and in this case
Speaker 1: of Democrats, because they had struggled so much to get
Speaker 1: their program enacted. I mean it took a while. They succeeded,
Speaker 1: but all those struggles sort of just cloud messaging opportunity.
Speaker 1: And Democrats are a more diverse group and they're running
Speaker 1: across the country and New Cambridge sort of really perfected
Speaker 1: the national campaign to the publican party, you gotta be
Speaker 1: on board one message, and they've been messaging on inflation
Speaker 1: for nearly two years now. The rest of the economy,
Speaker 1: I mean, compared to those who are older, you know,
Speaker 1: these interest rates even are nothing compared to what they were,
Speaker 1: you know, in the worst possible cases of high interest rates,
Speaker 1: and unemployment was ten percent in February from February nine
Speaker 1: two nine point is do you have a memory? You
Speaker 1: realize things are not really all that bad right now.
Speaker 1: But the Republicans have been absolutely terrific at their messaging
Speaker 1: and the Democrats have been pretty bad. But the other
Speaker 1: thing is all politics is local. Tip O'Neil, former Speaker
Speaker 1: of the House from Massachusetts. It's a it's a very
Speaker 1: important thing. The Democrats have gone an abortion national message
Speaker 1: that's gonna play in states that aren't risk of losing
Speaker 1: abortion rights, but in those states that have them securely
Speaker 1: blue states, that's not going to help you. We have
Speaker 1: that circumstances in Rhode Island, we have a race is
Speaker 1: probably the Republican because abortion is protected and right on.
Speaker 1: So the choices for national issues the Democrats have made
Speaker 1: have been it could be the wrong choices, and they
Speaker 1: haven't been successful in talting their message on the economy.
Speaker 1: With you know, a very low unemployment rate, the last
Speaker 1: thing they'll say is that workers. You talk to anybody,
Speaker 1: business people, they can't find workers. They can't find people
Speaker 1: who will work and stay. And that's the whole question mark.
Speaker 1: If you have a full employment situation but you're still
Speaker 1: struggling to get workers, they're gonna vote Republican in November.
Speaker 1: Only thirty seconds left here, Wendy, where does this leave
Speaker 1: the parties with just three weeks to go until this
Speaker 1: mid term election. Well, Republicans are on a roll. They're
Speaker 1: gonna do what they're gonna do. And the key thing
Speaker 1: I've looked at is in these really detailed polls, people
Speaker 1: between the ages of forty five and sixty five are
Speaker 1: leaning heavily Republicans. That happens to be the bubble of
Speaker 1: people who vote the most the most in midterm elections.
Speaker 1: So I think that's a real warning sign the Democrats.
Speaker 1: Hope we get more time next time. Thank you for this, Wendy,
Speaker 1: great having one with us as always. Wendy Schiller is
Speaker 1: director of the Topman Center for American Politics and Policy
Speaker 1: at Brown University. Looking ahead to the market open this morning,
Speaker 1: We've got a rally going to start off a week
Speaker 1: that is going to be very heavily dominated by earnings.
Speaker 1: Lots of companies reporting across different sectors. Right now, SMP
Speaker 1: futures are up forty four points, STOW futures up three five,
Speaker 1: NASAC futures higher by a hundred fifty five points. Tenure
Speaker 1: Treasury is up sixteen thirty seconds, yield three point nine five.
Speaker 1: Bank of America shares continue to rally following positive earnings.
Speaker 1: On that score, Bank America shares up two point nine
Speaker 1: percent in the pre market. For Karen Moscow, I'm Nathan Hagar.
Speaker 1: This is Bloomberg