1 00:00:02,520 --> 00:00:05,920 Speaker 1: Live from the Bloomberg Interactive Brokers studios. This is Bloomberg 2 00:00:05,960 --> 00:00:09,680 Speaker 1: day Break for Monday, November seven two. Coming up the shower, 3 00:00:09,880 --> 00:00:13,080 Speaker 1: Apple expects to produce at least three million fewer iPhone 4 00:00:13,119 --> 00:00:16,120 Speaker 1: four teens than originally planned. Thousands of job cuts are 5 00:00:16,120 --> 00:00:19,080 Speaker 1: reportedly on the way at Facebook, Pair and meta platforms. 6 00:00:19,200 --> 00:00:22,239 Speaker 1: The investors grace for this week's key report on inflation, 7 00:00:22,400 --> 00:00:24,439 Speaker 1: and we take you to Egypt, where a big climate 8 00:00:24,520 --> 00:00:27,840 Speaker 1: change summit is underway. It's the final post for campaigning 9 00:00:27,880 --> 00:00:30,440 Speaker 1: in New York's governor's race hand the mid terms. Plus 10 00:00:30,640 --> 00:00:33,680 Speaker 1: the CDC warns of the surgeon, COVID flew and RSV 11 00:00:34,000 --> 00:00:37,000 Speaker 1: on Michael bar more ahead, I'm done Stair Sharon sports 12 00:00:37,000 --> 00:00:39,120 Speaker 1: big wins for the Jets and upset of the bills. 13 00:00:39,159 --> 00:00:42,920 Speaker 1: The Rangers lost on mats re signed their closer. That's 14 00:00:42,960 --> 00:00:46,960 Speaker 1: all straight ahead on Bloomberg day Break on Bloomberg eleven 15 00:00:47,000 --> 00:00:51,480 Speaker 1: three O New York, Bloomberg one, Washington, d C, Bloomberg 16 00:00:51,479 --> 00:00:55,240 Speaker 1: one O six one, Boston, Bloomberg nine six, San Francisco, 17 00:00:55,600 --> 00:00:58,880 Speaker 1: Sirius x M one nineteen and around the world on 18 00:00:59,000 --> 00:01:08,160 Speaker 1: Bloomberg Radio. Come and via the Bloomberg Business and good morning. 19 00:01:08,160 --> 00:01:11,039 Speaker 1: I'm Karen Moscow, I'm Nathan Hegar. Bloomberg day Break brought 20 00:01:11,040 --> 00:01:12,840 Speaker 1: to you by B and Y Melon's Pershing Learned by 21 00:01:12,880 --> 00:01:16,199 Speaker 1: the world's most sophisticated wealth management and institutional firms rely 22 00:01:16,280 --> 00:01:19,840 Speaker 1: on Pershing to help them improve profitability, create efficiency, attract talent, 23 00:01:19,920 --> 00:01:23,319 Speaker 1: and manage risk at Pershing dot com. Well US futures 24 00:01:23,319 --> 00:01:25,760 Speaker 1: are higher this morning six oh one on Wall Street, 25 00:01:25,760 --> 00:01:28,039 Speaker 1: and we check the markets every fifteen minutes throughout the 26 00:01:28,040 --> 00:01:30,600 Speaker 1: trading day on Bloomberg S and P Future is up 27 00:01:30,640 --> 00:01:33,640 Speaker 1: twenty one points. DAL Futures up a hundred sixty two 28 00:01:33,680 --> 00:01:36,920 Speaker 1: and ASDAG Future is up sixty two Tenure Treasury up 29 00:01:36,920 --> 00:01:40,080 Speaker 1: four thirty seconds, yield four point one three percent, and 30 00:01:40,120 --> 00:01:42,440 Speaker 1: they yield on the two year four point six eight 31 00:01:42,480 --> 00:01:46,040 Speaker 1: percent Nathan Karen. The rise in futures follows Friday's rally 32 00:01:46,120 --> 00:01:48,639 Speaker 1: on Wall Street, which saw the SNP five hundred snap 33 00:01:48,640 --> 00:01:51,280 Speaker 1: of four day losing Street. Still, the index is down 34 00:01:51,320 --> 00:01:54,160 Speaker 1: twenty one percent in twenty two and on track for 35 00:01:54,160 --> 00:01:56,880 Speaker 1: its worst year in at least a decade. Alan Zaffron 36 00:01:56,960 --> 00:01:59,480 Speaker 1: is founding partner in co CEO at i e Q Capital. 37 00:01:59,720 --> 00:02:02,760 Speaker 1: What we are fearful of and if your barish is 38 00:02:02,800 --> 00:02:04,640 Speaker 1: that the FED is only going to pivot when the 39 00:02:04,840 --> 00:02:07,280 Speaker 1: p M is the Purchasing Manager Index, which is a 40 00:02:07,280 --> 00:02:10,760 Speaker 1: broad measure of economic activity. If it were to really plummet, 41 00:02:11,280 --> 00:02:13,320 Speaker 1: the FED would have no choice but to do so, 42 00:02:13,360 --> 00:02:17,480 Speaker 1: and that probably only happens coincidentally with the labor markets 43 00:02:17,480 --> 00:02:20,120 Speaker 1: starting to get out of control. I e Q Capital's 44 00:02:20,120 --> 00:02:22,440 Speaker 1: Alan Zafferan says FED rate hikes will take six to 45 00:02:22,480 --> 00:02:25,440 Speaker 1: twelve months to work their way through the economy. Well, Nathan, 46 00:02:25,480 --> 00:02:28,120 Speaker 1: the attention this week turns to inflation, and let's take 47 00:02:28,160 --> 00:02:30,680 Speaker 1: a look at the economic calendar, with Bloomberries Vinny Dell 48 00:02:30,800 --> 00:02:34,280 Speaker 1: Judai's topping this week's list, the October Consumer Price and 49 00:02:34,440 --> 00:02:37,799 Speaker 1: exceet for Thursday, and tracking the ever rising cost of 50 00:02:37,880 --> 00:02:42,000 Speaker 1: living post pandemic. Economists the inflation running hot at about 51 00:02:42,000 --> 00:02:45,040 Speaker 1: eight percent year over a year, keeping the federal reserve 52 00:02:45,160 --> 00:02:47,880 Speaker 1: on the offense. Now wages are on the rise, but 53 00:02:47,960 --> 00:02:51,600 Speaker 1: inflation is outstripping the games. Hence a lack of confidence 54 00:02:51,600 --> 00:02:55,400 Speaker 1: in America's economy and the University of Michigan consumer sentiment 55 00:02:55,440 --> 00:02:58,600 Speaker 1: and except once again to run their record low that's 56 00:02:58,560 --> 00:03:02,400 Speaker 1: set for Friday, they eat judaic Is Bloomberg Daybreak. All right, Vinny, thanks, 57 00:03:02,400 --> 00:03:05,040 Speaker 1: another busy week for earnings as well. It's gonna preview 58 00:03:05,080 --> 00:03:08,480 Speaker 1: there from Bloomberg's Charlie Pellett. With about four hundred thirty 59 00:03:08,480 --> 00:03:13,040 Speaker 1: companies in the SMP five hundred reporting so far have 60 00:03:13,240 --> 00:03:17,560 Speaker 1: reported positive earning surprises, according to data compound by Bloomberg. 61 00:03:17,760 --> 00:03:22,320 Speaker 1: Peter Oppenheimer is chief Global equity strategist at Goldman Sachs International. 62 00:03:24,040 --> 00:03:26,960 Speaker 1: And not a disastrous serving season, but certainly not nearly 63 00:03:27,000 --> 00:03:29,560 Speaker 1: as strong as we've seen previously. And the key thing 64 00:03:29,600 --> 00:03:32,080 Speaker 1: that's happening, and we've been arguing this for some time, 65 00:03:32,520 --> 00:03:35,160 Speaker 1: is that margins are starting to come under pressure as 66 00:03:35,160 --> 00:03:38,240 Speaker 1: a result of these high input costs. Among the company's 67 00:03:38,280 --> 00:03:43,040 Speaker 1: schedule to report this week, Activision Blizzard asked Roseneca, BioNTech, 68 00:03:43,240 --> 00:03:47,720 Speaker 1: Occidental Petroleum, and Ribbean Automotive in New York. Charlie Pellet, 69 00:03:47,720 --> 00:03:50,520 Speaker 1: Bloomberg Daybreak and Charlie, we're just getting earnings crossing the 70 00:03:50,520 --> 00:03:53,600 Speaker 1: Bloomberg terminal from BioNTech, raising its forecast for the COVID 71 00:03:53,680 --> 00:03:56,680 Speaker 1: vaccine itsels with Feiser, saying they've invoiced some three hundred 72 00:03:56,720 --> 00:03:59,960 Speaker 1: million doses of an omicron adapted version as of mid October, 73 00:04:00,680 --> 00:04:03,000 Speaker 1: and Nathan, we look to earnings in a long term now, 74 00:04:03,080 --> 00:04:06,280 Speaker 1: Goldman sacks lowering his estimates for the SNP five hundred 75 00:04:06,320 --> 00:04:09,920 Speaker 1: for each year till four. The bank strategists say margin 76 00:04:09,960 --> 00:04:13,600 Speaker 1: contraction in the third quarters signals more pain ahead. Goldman 77 00:04:13,720 --> 00:04:16,080 Speaker 1: is not changing its year end targets for the SNP 78 00:04:16,480 --> 00:04:18,440 Speaker 1: still thinks the indext will drop another four and a 79 00:04:18,480 --> 00:04:21,440 Speaker 1: half percent this year to thirty six hundred before rising 80 00:04:21,480 --> 00:04:26,040 Speaker 1: to four thousand three. Meantime, Karen Morgan, Stanley's Michael Wilson 81 00:04:26,080 --> 00:04:28,600 Speaker 1: says investors should stay bullish on equities ahead of this 82 00:04:28,640 --> 00:04:32,000 Speaker 1: week's midterms. Wilson correctly predicted this year's slump in stocks. 83 00:04:32,040 --> 00:04:34,719 Speaker 1: He says if Republicans win at least one chamber of Congress, 84 00:04:34,720 --> 00:04:37,039 Speaker 1: it could provide a catalyst for lower bond fields and 85 00:04:37,200 --> 00:04:40,279 Speaker 1: higher equity prices well. Turning to corporate news, now, Nathan, 86 00:04:40,360 --> 00:04:42,920 Speaker 1: we're watching shares of Apple this morning. They're down one 87 00:04:43,000 --> 00:04:45,800 Speaker 1: percent in early trading. The company expects to produce at 88 00:04:45,839 --> 00:04:50,040 Speaker 1: least three million fewer iPhone fourteen handsets than originally planned 89 00:04:50,080 --> 00:04:53,719 Speaker 1: this year. Bloombergy Daybreak Asia anchor Brian Curtis has more 90 00:04:53,800 --> 00:04:56,760 Speaker 1: from Hong Kong. Bloomberg. Sources say the company and its 91 00:04:56,800 --> 00:05:00,120 Speaker 1: suppliers now aimed to make about eighty seven million devices. 92 00:05:00,120 --> 00:05:02,760 Speaker 1: That's down from ninety million. The reduction is due to 93 00:05:02,800 --> 00:05:06,599 Speaker 1: softer demand for the iPhone fourteen and fourteen plus that 94 00:05:06,680 --> 00:05:10,040 Speaker 1: adds to supply issues in places like Jung Cho, China. 95 00:05:10,360 --> 00:05:13,360 Speaker 1: The plant there is under a COVID lockdown. You Know Kong, 96 00:05:13,440 --> 00:05:16,440 Speaker 1: Brian Curtis, Bloomberg Daybreak, Brian thanks to continue to see 97 00:05:16,480 --> 00:05:19,480 Speaker 1: job cuts in corporate America. Facebook Para meta Platforms will 98 00:05:19,520 --> 00:05:22,760 Speaker 1: reportedly start laying off thousands of workers this week. According 99 00:05:22,800 --> 00:05:24,600 Speaker 1: to The Wall Street Journal, the cuts could come as 100 00:05:24,640 --> 00:05:27,719 Speaker 1: early as Wednesday. Met has been struggling with growing losses 101 00:05:27,760 --> 00:05:31,400 Speaker 1: and investing heavily in its metaverse business. Meta shares, which 102 00:05:31,400 --> 00:05:35,040 Speaker 1: are down sev this year, are up nearly four percent 103 00:05:35,120 --> 00:05:38,200 Speaker 1: in early trading on the news. Well Nathan, Twitter brought 104 00:05:38,200 --> 00:05:40,560 Speaker 1: the acts down hard less week on close to thirty 105 00:05:40,560 --> 00:05:43,479 Speaker 1: seven hundred of its employees. Now it's asking dozens of 106 00:05:43,520 --> 00:05:46,320 Speaker 1: them to come back. Sources tell us the company decided 107 00:05:46,360 --> 00:05:49,480 Speaker 1: the employees where either fired by mistake or are too 108 00:05:49,720 --> 00:05:52,400 Speaker 1: essential to the changes new owner Elon Musk wants to 109 00:05:52,440 --> 00:05:56,520 Speaker 1: make one of those changes, adding verification checkmarks for subscribers 110 00:05:56,680 --> 00:06:00,120 Speaker 1: to Twitter's monthly blue service that's being delayed till Wednesday 111 00:06:00,160 --> 00:06:03,120 Speaker 1: to avoid mid term election chaos. Well, the world's focus 112 00:06:03,160 --> 00:06:04,600 Speaker 1: for the next couple of weeks, Karen will be on 113 00:06:04,720 --> 00:06:07,480 Speaker 1: the health of the planet. The cop twenty seven summit 114 00:06:07,600 --> 00:06:10,920 Speaker 1: is underway in Egypt. The United Nations Annual Climate change 115 00:06:10,920 --> 00:06:14,799 Speaker 1: event is beginning with discussions on reparations or compensating poorer 116 00:06:14,880 --> 00:06:18,080 Speaker 1: nations for the damage caused by emissions produced elsewhere. We 117 00:06:18,120 --> 00:06:21,000 Speaker 1: get more from Bloomberg's use of Kamal Eldin in Charmel Shake. 118 00:06:21,480 --> 00:06:24,520 Speaker 1: We've got over one hundred heads of state to hund 119 00:06:24,520 --> 00:06:27,680 Speaker 1: delegations from all across the world, and they've set apart 120 00:06:27,680 --> 00:06:29,920 Speaker 1: a little bit lower. I would say they admit that 121 00:06:30,160 --> 00:06:32,200 Speaker 1: because of some of the risk everything of the Ukraine 122 00:06:32,200 --> 00:06:34,680 Speaker 1: War to be ongoing, to your political spat between China 123 00:06:34,720 --> 00:06:37,679 Speaker 1: and the US, it's gonna be harder to get things going. 124 00:06:38,279 --> 00:06:41,520 Speaker 1: But nonetheless they want to show some results and they 125 00:06:41,600 --> 00:06:45,000 Speaker 1: are ready to get contraction on adding a little bit 126 00:06:45,040 --> 00:06:47,000 Speaker 1: of a controversial items to the attenda, the loss and 127 00:06:47,120 --> 00:06:51,359 Speaker 1: Damage items that this is related to unchecked crossial fuel 128 00:06:51,520 --> 00:06:56,760 Speaker 1: use that cause economic destruction in disproportioned ways. Bloombergs use 129 00:06:56,760 --> 00:06:59,359 Speaker 1: of kamal Eldin reports. The leaders of Germany, France, and 130 00:06:59,400 --> 00:07:02,560 Speaker 1: the UK are appearing at the start of copy. US 131 00:07:02,640 --> 00:07:05,839 Speaker 1: President Joe Biden and Brazil's President elect Louis and Nacio 132 00:07:05,920 --> 00:07:08,520 Speaker 1: Lula da Silva are due to appear later on, and 133 00:07:08,640 --> 00:07:11,440 Speaker 1: futures are higher this morning. Nathan SMP future is up 134 00:07:11,480 --> 00:07:14,640 Speaker 1: twenty four points to down futures of eighty three, nasday 135 00:07:14,760 --> 00:07:23,200 Speaker 1: futures of seventy seven. And this is Bloomberg. Thanks sharing 136 00:07:23,240 --> 00:07:25,240 Speaker 1: at six oh seven on Wall Street, sixty seven degrees 137 00:07:25,280 --> 00:07:27,360 Speaker 1: in Central Park. Gotta crash on the northbound hutch By 138 00:07:27,400 --> 00:07:30,320 Speaker 1: exit eleven. More coming up in traffic. First Michael Barr 139 00:07:30,400 --> 00:07:31,880 Speaker 1: with what else is going on in New York and 140 00:07:31,960 --> 00:07:34,080 Speaker 1: around the world. Michael, thank you very much. Nathan. It 141 00:07:34,360 --> 00:07:38,800 Speaker 1: was the final weekend of campaigning before Tuesday's mid term elections. 142 00:07:39,160 --> 00:07:42,520 Speaker 1: President Joe Biden campaign for New York Governor Kavie Hokel 143 00:07:42,840 --> 00:07:46,000 Speaker 1: and a rally in Yonkers Sunday. Biden is hoping to 144 00:07:46,000 --> 00:07:49,480 Speaker 1: give the incumbent the last minute boost against Republican challenger 145 00:07:49,560 --> 00:07:52,640 Speaker 1: Lee's Eldon Poles show the race between the two narrowing. 146 00:07:53,120 --> 00:07:57,080 Speaker 1: Biden criticized former President Trump and the Republican Party's record 147 00:07:57,120 --> 00:08:00,200 Speaker 1: on the economy. What's going to happen the next couple 148 00:08:00,360 --> 00:08:03,160 Speaker 1: years is going to have more to do with what 149 00:08:03,240 --> 00:08:06,400 Speaker 1: this country looks like twenty years from now than anything else. 150 00:08:06,680 --> 00:08:10,840 Speaker 1: Congressman Zelden campaign and a rally near Rochester, promising if 151 00:08:10,880 --> 00:08:14,000 Speaker 1: he's elected governor, he's going to crack down on crime 152 00:08:14,080 --> 00:08:17,400 Speaker 1: and those state employees in charge of fighting it. We 153 00:08:17,480 --> 00:08:21,120 Speaker 1: are going to clear a climb emergency here in the 154 00:08:21,160 --> 00:08:25,320 Speaker 1: state of New York. Meanwhile, former President Trump urged Florida 155 00:08:25,400 --> 00:08:29,680 Speaker 1: voters to support Republican candidates in Tuesday's mid term elections. 156 00:08:29,920 --> 00:08:32,160 Speaker 1: This is a year we are going to take back 157 00:08:32,240 --> 00:08:35,000 Speaker 1: the House. We're going to take back the Senate. We're 158 00:08:35,000 --> 00:08:40,120 Speaker 1: going to take back America. We're going to take Trump 159 00:08:40,240 --> 00:08:43,320 Speaker 1: spoke in the rally in Miami with Florida Senators Marco 160 00:08:43,440 --> 00:08:46,920 Speaker 1: Rubio and Rick Scott, a former director of the f 161 00:08:47,000 --> 00:08:50,200 Speaker 1: d A, is concerned that the US is not prepared 162 00:08:50,280 --> 00:08:53,600 Speaker 1: for the current virus season. Bloomberg said Baxter as the 163 00:08:53,640 --> 00:08:56,920 Speaker 1: story the US has Center in cold flew RSV and 164 00:08:57,000 --> 00:09:00,600 Speaker 1: COVID season and former director Scott gott lab On CBS 165 00:09:00,679 --> 00:09:03,600 Speaker 1: has heard here on Bloomberg says some past mistakes are 166 00:09:03,600 --> 00:09:05,720 Speaker 1: getting in the way of new policies. We know wearing 167 00:09:05,720 --> 00:09:07,560 Speaker 1: a mask if you have the flu rs V when 168 00:09:07,600 --> 00:09:10,840 Speaker 1: you go out is effective at preventing forward transmission. Nobody 169 00:09:10,840 --> 00:09:12,440 Speaker 1: wants to say that. So I think that there's a 170 00:09:12,440 --> 00:09:14,920 Speaker 1: lot of reluctance now, in part because of the failures 171 00:09:14,920 --> 00:09:17,079 Speaker 1: of public health messaging during the pandemic and things we 172 00:09:17,200 --> 00:09:19,480 Speaker 1: got wrong and the backlash toys. So we don't have 173 00:09:19,520 --> 00:09:21,720 Speaker 1: a good solution for what we're entering right now. Godlee 174 00:09:21,840 --> 00:09:24,360 Speaker 1: says mistakes should have been made during COVID should not 175 00:09:24,400 --> 00:09:28,080 Speaker 1: affect medical policy going forward. In San Francisco, I'm at 176 00:09:28,080 --> 00:09:31,360 Speaker 1: Baxter Bloomberg. Gay break authorities continue to investigate the New 177 00:09:31,440 --> 00:09:34,080 Speaker 1: York City high rise fire over the weekend and injured 178 00:09:34,120 --> 00:09:36,640 Speaker 1: over three dozen people and was traced to a faulty 179 00:09:36,800 --> 00:09:39,800 Speaker 1: lithium ion battery. It is the latest and a fast 180 00:09:39,880 --> 00:09:43,760 Speaker 1: growing series of battery blazes that have fire officials concerned. 181 00:09:44,000 --> 00:09:47,760 Speaker 1: The fire spurred a dramatic and rare rope rescue. Twenty 182 00:09:47,760 --> 00:09:51,319 Speaker 1: stories above Manhattan's East fifty second Street, a few blocks 183 00:09:51,320 --> 00:09:54,520 Speaker 1: from the u N headquarters. Global News twenty four hours 184 00:09:54,520 --> 00:09:57,560 Speaker 1: a day on air and on Bloomberg Quicktake, powered by 185 00:09:57,600 --> 00:10:01,840 Speaker 1: more than journalists and analysts more than twenty countries. Michael Barren, 186 00:10:01,920 --> 00:10:09,080 Speaker 1: this is Bloomberg Nathin. Thank you, Michael. Almost six ten 187 00:10:09,160 --> 00:10:11,120 Speaker 1: on Wall Street. Time for the Bloomberg Sports Update, brought 188 00:10:11,120 --> 00:10:13,280 Speaker 1: to you by twice State Daddy. Here's John sansh Our, 189 00:10:13,360 --> 00:10:15,920 Speaker 1: Thanks Days and the Jets of it underdogs almost every week. 190 00:10:15,960 --> 00:10:19,079 Speaker 1: They were eleven point underdogs that met Life Buffalo came 191 00:10:19,120 --> 00:10:21,480 Speaker 1: in an a f C best six and one three 192 00:10:21,840 --> 00:10:24,160 Speaker 1: three wins by at least three touchdowns, but the Jets 193 00:10:24,520 --> 00:10:27,480 Speaker 1: sat Josh Allen five times, intercept with him twice and 194 00:10:27,520 --> 00:10:31,520 Speaker 1: twice got themselves into the end takes the snout harder 195 00:10:31,600 --> 00:10:39,679 Speaker 1: run up the middle of the five. Jetlist motions Herson goal, 196 00:10:39,800 --> 00:10:43,000 Speaker 1: the second Bactus Crozack Wilson screen, ro Cobbinson at the 197 00:10:43,120 --> 00:10:49,199 Speaker 1: ten half the five. He's across the goal touch the 198 00:10:49,520 --> 00:10:51,800 Speaker 1: ESPN New York that calls the game was tied when 199 00:10:51,800 --> 00:10:54,760 Speaker 1: the Jets won on a thirteen play eighties six yard 200 00:10:54,840 --> 00:10:57,480 Speaker 1: drive ended with a Greg zir Wine go ahead field goal. 201 00:10:57,520 --> 00:11:00,400 Speaker 1: They upset the Bills twenty and seventeen, only a half 202 00:11:00,480 --> 00:11:02,600 Speaker 1: game behind Buffalo. The game last night to a FC 203 00:11:02,720 --> 00:11:06,040 Speaker 1: Division leaders and went to overtime. Kansas City beat Tennessee. 204 00:11:06,040 --> 00:11:09,440 Speaker 1: Patrick Mahomes through the ball sixty eight times. Tom Brady 205 00:11:09,480 --> 00:11:12,160 Speaker 1: threw at fifty eight, the last one of teen passed. 206 00:11:12,160 --> 00:11:13,760 Speaker 1: Tamba Bay has only touched down of the day. They 207 00:11:13,760 --> 00:11:16,079 Speaker 1: beat the Rams in the battle of the last two 208 00:11:16,160 --> 00:11:18,880 Speaker 1: Super Bowl winners, both of whom are struggling this year 209 00:11:18,920 --> 00:11:21,960 Speaker 1: and Green Bay really struggling. Lost with the Jets and 210 00:11:22,040 --> 00:11:26,080 Speaker 1: Giants just lost to lowly Detroit. Aaron Rodgers intercepted three times. 211 00:11:26,080 --> 00:11:28,559 Speaker 1: It's the Packard's fifth loss in a row. The sound 212 00:11:28,640 --> 00:11:31,679 Speaker 1: of Timmy Trumpet playing Narco continue to be heard at 213 00:11:31,679 --> 00:11:33,480 Speaker 1: City Fields for the years to come. The Mets have 214 00:11:33,600 --> 00:11:36,480 Speaker 1: locked up all star closer Edwin Diaz, who was a 215 00:11:36,520 --> 00:11:39,480 Speaker 1: free agent five years hundred two million, most ever for 216 00:11:39,520 --> 00:11:42,640 Speaker 1: a reliever. The Nets laid down six requirements that Tyrie 217 00:11:42,679 --> 00:11:45,920 Speaker 1: Irving must meet before they consider lifting his suspension. The 218 00:11:46,080 --> 00:11:49,160 Speaker 1: Rangers lost to Detroit three two and overtime. John Stashward 219 00:11:49,200 --> 00:11:52,440 Speaker 1: Bloomberg Sports Nathan thank you, John SMP futures right now 220 00:11:52,600 --> 00:11:55,960 Speaker 1: twenty three points, Stown futures up an eighty Nastact futures 221 00:11:55,960 --> 00:11:58,920 Speaker 1: are higher by seventy two points, and the tenure Treasury's 222 00:11:58,960 --> 00:12:01,079 Speaker 1: up four thirty seconds for a yield a four point 223 00:12:01,120 --> 00:12:08,200 Speaker 1: one four percent. This is Bloomberg. Bloomberg Sports was brought 224 00:12:08,240 --> 00:12:10,320 Speaker 1: to you by Audie. Don't let someone else drive off 225 00:12:10,320 --> 00:12:12,880 Speaker 1: in the autie model you've always wanted. Visit your local 226 00:12:12,880 --> 00:12:14,880 Speaker 1: tri state autie dealer to get behind the wheel of 227 00:12:14,880 --> 00:12:22,600 Speaker 1: yours today, or visit autie Offers dot com for more information, markets, 228 00:12:22,679 --> 00:12:25,800 Speaker 1: headlines and breaking news twenty four hours a day at 229 00:12:25,800 --> 00:12:29,800 Speaker 1: Bloomberg dot com, the Bloomberg Business Out and at Bloomberg Victaque. 230 00:12:30,000 --> 00:12:39,040 Speaker 1: This is a Bloomberg Business Flash and I'm Karin Moscow 231 00:12:39,080 --> 00:12:41,040 Speaker 1: and us dot in Next Future is on the rise 232 00:12:41,160 --> 00:12:44,640 Speaker 1: this morning as some investors that a period of disinflation 233 00:12:44,679 --> 00:12:47,280 Speaker 1: has already begun and the midterm election results will be 234 00:12:47,320 --> 00:12:50,439 Speaker 1: favorable to markets. We checked the markets every fifteen minutes 235 00:12:50,480 --> 00:12:53,640 Speaker 1: throughout the trading day. On Bloomberg, SMP Future is up 236 00:12:53,640 --> 00:12:56,079 Speaker 1: twenty foinds Now futures have a hundred sixty three and 237 00:12:56,160 --> 00:12:59,200 Speaker 1: nasdack Future is up sixty three the decks in Germany's 238 00:12:59,240 --> 00:13:01,920 Speaker 1: up about nine ten of upper cent. Ten year treasury 239 00:13:01,960 --> 00:13:04,440 Speaker 1: up four thirty seconds, held four point one four percent. 240 00:13:04,480 --> 00:13:07,880 Speaker 1: They yield on the two year four point six eight percent. Nine. Next, 241 00:13:07,920 --> 00:13:10,920 Speaker 1: Scrude oil is of less than a tenth of upper cent, 242 00:13:10,960 --> 00:13:13,200 Speaker 1: up six cents at ninety two dollars sixty seven cents, 243 00:13:13,240 --> 00:13:15,800 Speaker 1: and barrel comics gold up two tens percent or three 244 00:13:15,840 --> 00:13:18,320 Speaker 1: dollars ten cents at sixty and seventy nine seventy an 245 00:13:18,360 --> 00:13:21,959 Speaker 1: ounce the euro point nine you against the dollar British 246 00:13:22,000 --> 00:13:24,400 Speaker 1: found one point one four or five seven and again 247 00:13:24,440 --> 00:13:27,520 Speaker 1: one forty six point six nine, and bitcoin is down 248 00:13:27,520 --> 00:13:30,440 Speaker 1: one point eight percent at twenty thousand and seven hundred 249 00:13:30,440 --> 00:13:34,040 Speaker 1: fifty dollars and again. Biotech bi on Tech raising its 250 00:13:34,040 --> 00:13:37,000 Speaker 1: forecast with the COVID nineteen vaccine it sales, with Fiser 251 00:13:37,360 --> 00:13:39,839 Speaker 1: saying that the partners have invoiced some three hundred million 252 00:13:39,880 --> 00:13:42,720 Speaker 1: doses of an omicron adapted version of the shot as 253 00:13:42,720 --> 00:13:45,640 Speaker 1: of mid October. As a Bloomberg business flash, now here's 254 00:13:45,679 --> 00:13:48,200 Speaker 1: Michael Barr with more on what's going on around the world. 255 00:13:48,320 --> 00:13:51,920 Speaker 1: Michael Karen, thank you very much. Election Day is tomorrow, 256 00:13:51,960 --> 00:13:56,080 Speaker 1: but already more than forty million Americans have cast early ballots. 257 00:13:56,400 --> 00:14:00,360 Speaker 1: Republicans are optimistic about winning enough seats to retake troll 258 00:14:00,440 --> 00:14:03,880 Speaker 1: of both the House and the Senate, while Democrats insist 259 00:14:03,920 --> 00:14:06,720 Speaker 1: they are poised for a better night than many expect. 260 00:14:07,240 --> 00:14:10,720 Speaker 1: The COP twenty seven u N Climate talks began in Egypt, 261 00:14:10,960 --> 00:14:13,560 Speaker 1: with a deal to discuss how rich countries can help 262 00:14:13,600 --> 00:14:16,840 Speaker 1: pay for the damage is caused by global warming. Elsewhere, 263 00:14:17,200 --> 00:14:20,960 Speaker 1: recent climate disasters, such as the floods in Pakistan have 264 00:14:21,120 --> 00:14:24,040 Speaker 1: put the issue back into focus. In the NFL, the 265 00:14:24,120 --> 00:14:28,200 Speaker 1: Jets upset the Bills twenty seventeen, The Patriots won, the 266 00:14:28,200 --> 00:14:31,720 Speaker 1: Commanders lost. The Ravens play the Saints tonight. In the NHL, 267 00:14:31,800 --> 00:14:34,480 Speaker 1: the Rangers lost in overtime to the Red Wings three two. 268 00:14:34,920 --> 00:14:38,360 Speaker 1: In the NBA, the Wizards lost. Global news twenty four 269 00:14:38,400 --> 00:14:42,280 Speaker 1: hours a day on air and on Bloomberg Quicktake, powered 270 00:14:42,280 --> 00:14:45,240 Speaker 1: by more than twenty seven hundred journalists and analysts more 271 00:14:45,240 --> 00:14:47,680 Speaker 1: than a hundred twenty countries. How Michael Barr and this 272 00:14:47,760 --> 00:14:49,960 Speaker 1: is Bloomberg. Nathan, all right, Michael, thank you for coming 273 00:14:50,040 --> 00:14:51,640 Speaker 1: up to six twenty on Wall Street Life from the 274 00:14:51,680 --> 00:14:54,880 Speaker 1: Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak. We want 275 00:14:54,880 --> 00:14:57,400 Speaker 1: to take a closer focus now on those COP twenty 276 00:14:57,400 --> 00:15:00,800 Speaker 1: seven climate tucks underway in Egypt. Bloomberg use of Kamal L. 277 00:15:00,840 --> 00:15:04,080 Speaker 1: Dean is part of our team of reporters and correspondence 278 00:15:04,320 --> 00:15:07,960 Speaker 1: covering the discussions from Charmel, Shake and useus with US 279 00:15:08,080 --> 00:15:10,440 Speaker 1: Live now, Good morning, use of thanks for being here. 280 00:15:10,640 --> 00:15:13,520 Speaker 1: As Michael mentioned, it did begin with a deal to 281 00:15:13,840 --> 00:15:18,960 Speaker 1: discuss reparations for climate damage. But this is just a 282 00:15:19,080 --> 00:15:21,920 Speaker 1: deal on actually talking about it. That's that's kind of 283 00:15:21,920 --> 00:15:27,200 Speaker 1: what we're looking at the moment right correct. So basically 284 00:15:27,400 --> 00:15:29,800 Speaker 1: you've got over one d heads of state here to 285 00:15:29,840 --> 00:15:33,600 Speaker 1: one of the the delegations, forty five thousand ecodited people. I've 286 00:15:33,600 --> 00:15:36,480 Speaker 1: found a bit of shade in a midsummer day here 287 00:15:36,480 --> 00:15:39,440 Speaker 1: in Charmer shaky. It's far harder than it would usually be, 288 00:15:40,240 --> 00:15:42,760 Speaker 1: and yes we did get a bit of a diplomatic breakthrough. 289 00:15:43,360 --> 00:15:46,760 Speaker 1: It's been added to the agenda the loss and damage component, 290 00:15:47,120 --> 00:15:49,760 Speaker 1: which is the reparations, but it isn't because it takes 291 00:15:49,760 --> 00:15:54,760 Speaker 1: out the liability component, but assures a level of coordination 292 00:15:55,320 --> 00:16:00,000 Speaker 1: and integration between developed and developing countries around moving forward 293 00:16:00,040 --> 00:16:02,760 Speaker 1: with with the Climate agenda. So it was a positive 294 00:16:02,760 --> 00:16:05,000 Speaker 1: note to start, but people here on the ground tell 295 00:16:05,040 --> 00:16:07,200 Speaker 1: me there's a long way to go until we can 296 00:16:07,200 --> 00:16:10,560 Speaker 1: call the summit a success. Well, what kind of progress 297 00:16:10,600 --> 00:16:12,800 Speaker 1: are we looking for from this summit? Use if it 298 00:16:12,840 --> 00:16:16,960 Speaker 1: seems like every year when the COP gathering gets under way, 299 00:16:17,680 --> 00:16:22,120 Speaker 1: the benchmarks for success seemed to get lowered and lowered 300 00:16:22,160 --> 00:16:25,960 Speaker 1: with each passing year. I think he hit the nail 301 00:16:26,000 --> 00:16:27,880 Speaker 1: on the head, and that's why the Egyptian hosts here 302 00:16:27,880 --> 00:16:31,000 Speaker 1: are labeling this the implementation COP. So he had the 303 00:16:31,080 --> 00:16:34,280 Speaker 1: COP of lofty ambitions, the COP twenty six Glasgow, and 304 00:16:34,360 --> 00:16:36,320 Speaker 1: now they just want to, you know, make a little 305 00:16:36,320 --> 00:16:38,360 Speaker 1: bit of tangible progress. And that's why it was so 306 00:16:38,400 --> 00:16:41,240 Speaker 1: important that we didn't get that addition to the agenda 307 00:16:41,560 --> 00:16:43,440 Speaker 1: in terms of what else they can do well, in 308 00:16:43,520 --> 00:16:46,720 Speaker 1: many ways, live up to existing promises like the Copenhagen Pledge, 309 00:16:47,080 --> 00:16:50,160 Speaker 1: which is a hundred billion dollars annually, need to help 310 00:16:50,360 --> 00:16:54,920 Speaker 1: with adaptation and mitigation from developed countries to developing countries, 311 00:16:55,200 --> 00:16:58,640 Speaker 1: and just firming up the framework for discussions. You have 312 00:16:58,760 --> 00:17:02,320 Speaker 1: no idea how complex this process is. Once you sit 313 00:17:02,360 --> 00:17:04,800 Speaker 1: in one of these hauled I mean you're going into 314 00:17:04,840 --> 00:17:08,919 Speaker 1: the far corners of U N bureaucracy. That's kind of 315 00:17:08,960 --> 00:17:12,200 Speaker 1: the layers that need to be considered, and the amount 316 00:17:12,280 --> 00:17:16,480 Speaker 1: of sort of diplomatic uh, I don't know, maneuvering that 317 00:17:16,560 --> 00:17:19,640 Speaker 1: needs to be done. And all this is coming, of course, 318 00:17:19,640 --> 00:17:21,960 Speaker 1: at the backdrop of the war in Ukraine and the 319 00:17:22,000 --> 00:17:25,720 Speaker 1: potential for an energy crunch coming this winter and a 320 00:17:25,880 --> 00:17:31,959 Speaker 1: spike in demand with global commodities potentially being disrupted dramatically 321 00:17:32,640 --> 00:17:36,480 Speaker 1: by the war unfolding. How is that affecting what we 322 00:17:36,600 --> 00:17:41,160 Speaker 1: get from these talks? It affected very much. I mean 323 00:17:41,200 --> 00:17:43,879 Speaker 1: they're not beaning around the bush here. So you know, 324 00:17:43,920 --> 00:17:46,960 Speaker 1: the Ukraine war, You've got the geopolitical file up between 325 00:17:47,000 --> 00:17:50,359 Speaker 1: the US and China. All these things are weighing on 326 00:17:51,000 --> 00:17:53,600 Speaker 1: the relative optimism that you would normally have at an 327 00:17:53,640 --> 00:17:56,400 Speaker 1: event like this. And even here in Egypt, were Egyptians 328 00:17:56,400 --> 00:18:00,040 Speaker 1: are feeling climate change, there's a question of financing it. 329 00:18:00,520 --> 00:18:04,200 Speaker 1: So you're already dealing with double digit inflation, your local 330 00:18:04,240 --> 00:18:08,280 Speaker 1: currency is down fifty over the last year. Who's going 331 00:18:08,320 --> 00:18:10,879 Speaker 1: to pay for the move to cleaner energy? Right if 332 00:18:10,880 --> 00:18:13,480 Speaker 1: you're trying to make ends meet? Not the end of 333 00:18:13,520 --> 00:18:15,000 Speaker 1: the months we're talking about the end of the day. 334 00:18:15,240 --> 00:18:16,600 Speaker 1: So those are some of the core issues that are 335 00:18:16,600 --> 00:18:19,199 Speaker 1: going to be discussed with the delegations from over two 336 00:18:19,240 --> 00:18:22,119 Speaker 1: hundred people of the course of two weeks, so a 337 00:18:22,160 --> 00:18:24,840 Speaker 1: lot to cut through. We'll see how far we get 338 00:18:24,840 --> 00:18:26,199 Speaker 1: with all of this. And I know a lot of 339 00:18:26,240 --> 00:18:29,040 Speaker 1: European leaders are there now. We're expecting President Biden to 340 00:18:29,160 --> 00:18:32,399 Speaker 1: arrive after the mid term elections have come and gone. 341 00:18:32,640 --> 00:18:36,080 Speaker 1: What are the expectations once President Biden comes in when 342 00:18:36,080 --> 00:18:38,639 Speaker 1: we could potentially see a shift in the balance of 343 00:18:38,680 --> 00:18:43,960 Speaker 1: power in Washington and the corresponding changes to the kinds 344 00:18:44,000 --> 00:18:46,760 Speaker 1: of commitments that potentially the US could make at a 345 00:18:46,800 --> 00:18:48,679 Speaker 1: summit like this. You've only got about a minute left here, 346 00:18:48,760 --> 00:18:52,360 Speaker 1: use I mean, the French President of Manuel Macros said 347 00:18:52,400 --> 00:18:55,200 Speaker 1: that the US and China need to pay their share 348 00:18:55,240 --> 00:18:58,160 Speaker 1: to help poor nations deal with climate change. They need 349 00:18:58,160 --> 00:19:00,400 Speaker 1: the U S and China to step up as let's 350 00:19:00,320 --> 00:19:03,360 Speaker 1: just tin accounts of emissions. I think there's more hope 351 00:19:03,440 --> 00:19:05,960 Speaker 1: that the US can take a leadership role, and with 352 00:19:06,000 --> 00:19:08,320 Speaker 1: the mid terms out of the way, it allows this 353 00:19:08,440 --> 00:19:12,640 Speaker 1: administration in Washington to really focus on what has been 354 00:19:13,040 --> 00:19:15,639 Speaker 1: one of its top priorities since it came into office, 355 00:19:15,960 --> 00:19:18,480 Speaker 1: and that is something that is giving people here underground 356 00:19:18,480 --> 00:19:21,200 Speaker 1: a lot of confidence that much more can be done 357 00:19:21,240 --> 00:19:24,240 Speaker 1: with US leadership. Thanks for your time use of looking 358 00:19:24,280 --> 00:19:26,160 Speaker 1: forward to your coverage over the next couple of weeks 359 00:19:26,200 --> 00:19:28,880 Speaker 1: here from Charmel Shake Bloomberg's use of Kamal L Dean 360 00:19:29,240 --> 00:19:32,440 Speaker 1: with us this morning, as the Copy seven summit has 361 00:19:32,600 --> 00:19:35,359 Speaker 1: just gotten underway, and we will have full coverage for 362 00:19:35,440 --> 00:19:38,159 Speaker 1: you throughout the next couple of weeks here as the 363 00:19:38,200 --> 00:19:41,280 Speaker 1: summit unfolds. Looking ahead to the market open on Wall 364 00:19:41,320 --> 00:19:44,399 Speaker 1: Street this morning, futures are pointing a little bit higher. 365 00:19:44,800 --> 00:19:47,399 Speaker 1: SMP futures are up nineteen points right now Down futures 366 00:19:47,480 --> 00:19:49,760 Speaker 1: up a hundred fifty seven, and Nasdaq futures are higher 367 00:19:50,000 --> 00:19:52,920 Speaker 1: by fifty seven points ten. Your Treasury is up three 368 00:19:52,960 --> 00:19:55,800 Speaker 1: thirty seconds the old four point one percent. Look at 369 00:19:55,840 --> 00:19:59,040 Speaker 1: the commodities market and I'm ex screwed down two tenths percent. 370 00:19:59,119 --> 00:20:02,840 Speaker 1: Ninety two dollars forty three cents a barrel. This is 371 00:20:02,880 --> 00:20:09,640 Speaker 1: Bloomberg Bloomberg eleventh three oh weather a brief shower this morning, 372 00:20:09,680 --> 00:20:12,320 Speaker 1: otherwise clearing, breezy and mild today. Highs in the mid 373 00:20:12,400 --> 00:20:15,639 Speaker 1: seventies will be back in the mid fifties for highs 374 00:20:15,760 --> 00:20:18,480 Speaker 1: on Election Day tomorrow and Wednesday as well. Right now 375 00:20:18,560 --> 00:20:24,719 Speaker 1: sixty eight in Central Park, broadcasting live from the Bloomberg 376 00:20:24,800 --> 00:20:29,240 Speaker 1: Interactive Broker's studio in New York, Bloomberg Living Free to Washington, 377 00:20:29,320 --> 00:20:33,200 Speaker 1: d C, Bloomberg N one to Boston Bloomberg one six 378 00:20:33,280 --> 00:20:36,040 Speaker 1: one to San Francisco Bloomberg, and I'm sixty to the 379 00:20:36,080 --> 00:20:39,600 Speaker 1: country Sirius XM chto one nine and around the globe 380 00:20:39,640 --> 00:20:43,280 Speaker 1: the Bloomberg Business apt in Bloomberg Radio dot com. This 381 00:20:43,600 --> 00:20:52,479 Speaker 1: is Bloomberg Daybreak. It's six thirty on Wall Street. Good 382 00:20:52,520 --> 00:20:55,240 Speaker 1: morning of Nathan Hagar and I'm Karen Moscow and we 383 00:20:55,280 --> 00:20:57,520 Speaker 1: are just about three hours away from the open of 384 00:20:57,640 --> 00:20:59,920 Speaker 1: US trading. Time to the five things you need to 385 00:21:00,040 --> 00:21:02,639 Speaker 1: notice start your day. Brought to you by i b 386 00:21:02,840 --> 00:21:06,600 Speaker 1: KR Investment Advisors switched to Interactive Brokers for lowest cost 387 00:21:06,680 --> 00:21:10,760 Speaker 1: global trading and turn key custody solutions, no ticket charges 388 00:21:10,760 --> 00:21:13,560 Speaker 1: and no conflicts of your interests at ibkr dot com 389 00:21:13,640 --> 00:21:17,520 Speaker 1: slash r i A First. Investors are keeping a close 390 00:21:17,520 --> 00:21:21,040 Speaker 1: eye on key economic data. The October Consumer Price indexes 391 00:21:21,080 --> 00:21:24,880 Speaker 1: out on Thursday, and University of Michigan Consumers Sentiment Index 392 00:21:25,000 --> 00:21:28,800 Speaker 1: out Friday. Paiden and Regal Chief US economist Jeffrey Cleveland 393 00:21:28,880 --> 00:21:32,320 Speaker 1: says jobs data from Friday suggests the Feds still in 394 00:21:32,359 --> 00:21:35,280 Speaker 1: the thick of its inflation battle. The wage growth data 395 00:21:35,320 --> 00:21:37,760 Speaker 1: has slowed maybe a little bit a point four a month, 396 00:21:37,760 --> 00:21:40,720 Speaker 1: and month is still pretty strong. We're hanging out around 397 00:21:40,720 --> 00:21:43,760 Speaker 1: five percent year on year wage growth, and that is 398 00:21:43,800 --> 00:21:47,040 Speaker 1: not consistent, in my view, with two percent inflation. I 399 00:21:47,080 --> 00:21:48,520 Speaker 1: think it's far too soon for the Fed to say 400 00:21:48,560 --> 00:21:51,159 Speaker 1: they're putting the brakes on here and paid in regals. 401 00:21:51,200 --> 00:21:53,920 Speaker 1: Jeffrey Cleveland said the Fed wants to see less job 402 00:21:53,960 --> 00:21:56,959 Speaker 1: growth because the labor market is out of balance. Well meantime, 403 00:21:57,040 --> 00:21:59,720 Speaker 1: caring the job turmoil continues with big tech. The Wall 404 00:21:59,760 --> 00:22:03,120 Speaker 1: Street Journal reports Meta platforms will lay off thousands, potentially 405 00:22:03,160 --> 00:22:05,920 Speaker 1: as early as Wednesday. Twitter is now asking dozens of 406 00:22:05,920 --> 00:22:08,640 Speaker 1: employees who were laid off to come back. Bloomberg Tech 407 00:22:08,760 --> 00:22:11,879 Speaker 1: editor Vlad Savo says Twitter's sweeping moves likely do not 408 00:22:12,040 --> 00:22:15,680 Speaker 1: reflect broader trends in big TEG. Months ago, Twitter's prior 409 00:22:15,760 --> 00:22:18,760 Speaker 1: leadership decided to come back on spending on office space 410 00:22:18,800 --> 00:22:21,080 Speaker 1: in molded to preserve jobs. What we've seen in with 411 00:22:21,119 --> 00:22:24,000 Speaker 1: Twitter cannot be extended to the prototech industry. It is 412 00:22:24,040 --> 00:22:26,800 Speaker 1: a very unique situation and there's a lot of unpredictability 413 00:22:26,880 --> 00:22:30,880 Speaker 1: because of Evan Muskie the home Bloomberg's Lads. Savo says 414 00:22:30,920 --> 00:22:32,960 Speaker 1: more changes are coming to Twitter. The company will add 415 00:22:33,040 --> 00:22:36,320 Speaker 1: verification check marks for members of its monthly subscription service 416 00:22:36,520 --> 00:22:39,440 Speaker 1: after tomorrow's mid terms to avoid chaos. Well it's taking 417 00:22:39,520 --> 00:22:42,159 Speaker 1: with tech Nathan. Shares of Apple are down one percent 418 00:22:42,200 --> 00:22:44,720 Speaker 1: in early trading after the company announced it expects to 419 00:22:44,720 --> 00:22:48,640 Speaker 1: produce less iPhone fourteen models than originally planned. In Age 420 00:22:48,680 --> 00:22:50,919 Speaker 1: of Karen, You and Climate, discussions are focused on how 421 00:22:51,000 --> 00:22:53,760 Speaker 1: rich countries can pay for damages caused by global warming. 422 00:22:53,960 --> 00:22:56,879 Speaker 1: Netherlands Prime Minister Mark Rota spoke with Bloomberg's Francy Lakwa 423 00:22:56,920 --> 00:23:00,640 Speaker 1: about moving forward on climate issues. We already are at 424 00:23:00,640 --> 00:23:03,520 Speaker 1: this moment committing the one hunt of billion to help 425 00:23:03,760 --> 00:23:05,679 Speaker 1: the yes to the world also and also the global 426 00:23:05,720 --> 00:23:09,320 Speaker 1: South who gets on boards with affecting climate change. Dutch 427 00:23:09,400 --> 00:23:11,560 Speaker 1: Prime Minister Mark Roche is one of several world leaders 428 00:23:11,560 --> 00:23:14,159 Speaker 1: at top twenty seven. U S President Joe Biden appears 429 00:23:14,240 --> 00:23:16,800 Speaker 1: later this week and that's the five things that you 430 00:23:16,840 --> 00:23:19,040 Speaker 1: need to notice start your day. Brought to you by 431 00:23:19,160 --> 00:23:23,000 Speaker 1: Interactive Brokers and Futures this morning are on the rise. 432 00:23:23,640 --> 00:23:26,240 Speaker 1: SNP Future is up twenty three points now features of 433 00:23:26,240 --> 00:23:29,639 Speaker 1: a hundred eighty five and Nasdack futures of seventy straight ahead, 434 00:23:29,640 --> 00:23:32,840 Speaker 1: your latest local headlines plus the check of sports and 435 00:23:33,040 --> 00:23:39,840 Speaker 1: this is Bloomberg. Thanksperience six three on Wall Street, sixty 436 00:23:40,000 --> 00:23:41,800 Speaker 1: degrees in Central Park. Still got that crash on the 437 00:23:41,800 --> 00:23:44,680 Speaker 1: northbound Hutchbags at eleven and Scarsdale, and Michael Barr has 438 00:23:44,720 --> 00:23:46,800 Speaker 1: more on what's going on in New York and around 439 00:23:46,840 --> 00:23:49,440 Speaker 1: the world. Good Morning Mine called Good morning Nathan. Both 440 00:23:49,480 --> 00:23:53,119 Speaker 1: President Joe Biden and his predecessor Donald Trump are hoping 441 00:23:53,160 --> 00:23:56,520 Speaker 1: to provide their party's late boosts on the last full 442 00:23:56,600 --> 00:24:00,040 Speaker 1: day of campaigning before midterm elections that could reshape a 443 00:24:00,119 --> 00:24:03,440 Speaker 1: balance of power in Washington. Biden is holding a rally 444 00:24:03,520 --> 00:24:07,160 Speaker 1: this evening in Maryland as Democrats I retaking its governors ship. 445 00:24:07,760 --> 00:24:11,040 Speaker 1: Yesterday at the president campaign for New York Governor Kathy 446 00:24:11,080 --> 00:24:14,480 Speaker 1: hokel at a rally in Yonkers. Biden is hoping to 447 00:24:14,520 --> 00:24:18,200 Speaker 1: give the incumbent a last minute boost against Republican challenger 448 00:24:18,280 --> 00:24:22,360 Speaker 1: Lee Selden. Biden criticized Selden for voting with House Republicans 449 00:24:22,359 --> 00:24:26,160 Speaker 1: against the American Rescue Plan that included money for police. 450 00:24:26,560 --> 00:24:30,399 Speaker 1: Governor opponent had a choice, could kick cops on the 451 00:24:30,520 --> 00:24:34,239 Speaker 1: job or cave to his Republican leaders. I'll give you 452 00:24:34,240 --> 00:24:39,320 Speaker 1: one guess what he did. He came. Meanwhile, Congressman Zelden, 453 00:24:39,440 --> 00:24:42,400 Speaker 1: at a rally just outside of Rochester, promised if he's 454 00:24:42,400 --> 00:24:45,760 Speaker 1: elected governor, he's going to crack down on crime. This 455 00:24:45,920 --> 00:24:50,600 Speaker 1: is about making sure and we don't have district attorneys who, 456 00:24:50,640 --> 00:24:54,200 Speaker 1: by policy, are just letting violent criminals went for m 457 00:24:54,920 --> 00:24:57,800 Speaker 1: Former President Trump is sent to stage his own event 458 00:24:57,840 --> 00:25:00,960 Speaker 1: in Ohio, where his hand picked on at candidate Jade 459 00:25:01,000 --> 00:25:04,760 Speaker 1: Events will be at his side. Yesterday, Trump urged Florida 460 00:25:04,840 --> 00:25:09,160 Speaker 1: voters to support Republican candidates in the mid terms this Tuesday. 461 00:25:09,240 --> 00:25:13,880 Speaker 1: You must go out and vote Republican in this giant 462 00:25:14,240 --> 00:25:18,960 Speaker 1: rid wave, Uncle sham, giant rid wave that they're all 463 00:25:19,000 --> 00:25:22,240 Speaker 1: talking about. The former president spoke at a vlley in 464 00:25:22,320 --> 00:25:26,560 Speaker 1: Miami with Florida Senators Marco Rubio and Rick Scott. The 465 00:25:26,640 --> 00:25:31,000 Speaker 1: CDC issued a warning of a surge and respiratory viruses 466 00:25:31,080 --> 00:25:35,240 Speaker 1: from covid flu and RSV, especially among children, that threatens 467 00:25:35,280 --> 00:25:40,280 Speaker 1: to overwhelm hospitals this fall and winter. The Powerball lottery 468 00:25:40,359 --> 00:25:43,880 Speaker 1: drawing is tonight. The jackpot is expected to be one 469 00:25:43,960 --> 00:25:48,600 Speaker 1: point nine billion dollars. Some people already, yeah, one point 470 00:25:48,680 --> 00:25:51,920 Speaker 1: nine billion dollars. I'm sorry, some people are already thinking 471 00:25:52,040 --> 00:25:56,080 Speaker 1: when on Monday, quit working on Tuesday. I feel very 472 00:25:56,080 --> 00:25:59,560 Speaker 1: confident about that this would be the winning Tinkot tank gun. 473 00:26:00,040 --> 00:26:01,800 Speaker 1: Put it in the bank. I'm gonna save it. I 474 00:26:01,800 --> 00:26:03,919 Speaker 1: don't know what I'm gonna start win. I think that's amazing, 475 00:26:03,960 --> 00:26:07,120 Speaker 1: and I hope someone really deserving. The last time someone 476 00:26:07,200 --> 00:26:11,000 Speaker 1: had the jackpot winning ticket was August three, Global News 477 00:26:11,000 --> 00:26:13,800 Speaker 1: twenty four hours a day on airand on Bloomberg Quick 478 00:26:13,840 --> 00:26:16,560 Speaker 1: Take Power by more than twenty seven hundred journalists antalists 479 00:26:16,600 --> 00:26:19,360 Speaker 1: more than a hundred twenty countries. I'm Michael barn this 480 00:26:19,520 --> 00:26:22,200 Speaker 1: is Bloomberg, nath. Wouldn't that be the pre election surprise? 481 00:26:22,320 --> 00:26:29,520 Speaker 1: Thank you, Michael? Six thirty six on Wall Street, time 482 00:26:29,520 --> 00:26:32,080 Speaker 1: for the Bloomberg Sports Update brought by Try State Out. 483 00:26:32,080 --> 00:26:34,280 Speaker 1: He Here's John stet Show. Thanks Day. And the Jets 484 00:26:34,320 --> 00:26:36,239 Speaker 1: had that four game win streak and then laid an 485 00:26:36,240 --> 00:26:38,440 Speaker 1: egg and yet another loss to New England that led 486 00:26:38,480 --> 00:26:41,280 Speaker 1: many to say, same old Jets. They're not saying that now. 487 00:26:41,400 --> 00:26:44,640 Speaker 1: Not after a twenty seventeen upset of heavily favored Buffalo 488 00:26:44,640 --> 00:26:48,640 Speaker 1: and MetLife. The Jet defense outstanding sat Josh Allen five times, 489 00:26:48,680 --> 00:26:51,920 Speaker 1: intercepted him twice. Jets put together a fourth quarter drive 490 00:26:52,040 --> 00:26:55,440 Speaker 1: eighty six yards in thirteen plays, eight straight on the ground. 491 00:26:55,440 --> 00:26:57,040 Speaker 1: The Jets ran it for a hundred and seventy four 492 00:26:57,119 --> 00:26:59,800 Speaker 1: yards in the drive took over six minutes, ended with 493 00:26:59,840 --> 00:27:01,560 Speaker 1: a field goal that games in the league they had 494 00:27:01,640 --> 00:27:04,560 Speaker 1: once trailed by eleven. Their coaches Roberts all, I know 495 00:27:04,600 --> 00:27:06,639 Speaker 1: a lot of people are going to be surprised, right. 496 00:27:07,280 --> 00:27:10,400 Speaker 1: I don't think there's a person's surprise in the locker room. Um, 497 00:27:10,440 --> 00:27:13,000 Speaker 1: it's a hard fall game. It's a damn good football team, 498 00:27:13,280 --> 00:27:15,880 Speaker 1: world coach football team over their Buffalo. Obviously they've they've 499 00:27:15,880 --> 00:27:19,520 Speaker 1: got championship aspirations. But um, but I don't think there's 500 00:27:19,520 --> 00:27:20,760 Speaker 1: a guy in that locker room that I didn't think 501 00:27:20,760 --> 00:27:23,280 Speaker 1: we can win. Let's go to their bye week six 502 00:27:23,320 --> 00:27:24,840 Speaker 1: and three. They've won five of the last six and 503 00:27:24,880 --> 00:27:27,160 Speaker 1: They'll come back from the bye with another game against 504 00:27:27,240 --> 00:27:30,040 Speaker 1: New England. Kansas City. Last night beat Tennessee and overtime. 505 00:27:30,080 --> 00:27:31,960 Speaker 1: The Chiefs tied the game of the late t d 506 00:27:32,160 --> 00:27:35,040 Speaker 1: and two point conversion, both for Patrick Mahomes runs at 507 00:27:35,080 --> 00:27:37,800 Speaker 1: the Garden. Rangers led to nothink. Detroit came back to 508 00:27:37,800 --> 00:27:40,680 Speaker 1: win three two and overtime. Then that's at two wins 509 00:27:40,720 --> 00:27:43,800 Speaker 1: this weekend without the suspended Kyrie Irving, who now needs 510 00:27:43,840 --> 00:27:47,920 Speaker 1: to fulfill six requirements laid down by the team before 511 00:27:47,920 --> 00:27:50,679 Speaker 1: they will consider lifting his suspension. And Mets have several 512 00:27:50,760 --> 00:27:53,359 Speaker 1: key players who are now free agents. Crossed one off 513 00:27:53,400 --> 00:27:56,600 Speaker 1: the list Edwin Diaz, who struggled early in his met 514 00:27:56,600 --> 00:27:59,280 Speaker 1: career but was tremendous this past season. He has now 515 00:27:59,359 --> 00:28:02,160 Speaker 1: cashed in not quite one point nine billion, but he's 516 00:28:02,160 --> 00:28:05,960 Speaker 1: getting five years two million. Daz with averaged almost two 517 00:28:05,960 --> 00:28:10,879 Speaker 1: strikeouts per any John Sports All right, John, thank you. 518 00:28:10,960 --> 00:28:13,240 Speaker 1: The six thirty seven now on Wall Street. And besides 519 00:28:13,280 --> 00:28:16,320 Speaker 1: the election and earnings, markets will be keeping a very 520 00:28:16,359 --> 00:28:18,600 Speaker 1: close eye out for the data this week. Of course, 521 00:28:18,600 --> 00:28:21,119 Speaker 1: a key piece of that comes out Thursday with the 522 00:28:21,160 --> 00:28:24,960 Speaker 1: release of the October Consumer Price Index Bloomberg Global Economics 523 00:28:25,000 --> 00:28:27,600 Speaker 1: and Policy correspondent Michael McKee joins us Now for a 524 00:28:27,600 --> 00:28:31,439 Speaker 1: bit of a preview of October inflation data. Mike, is 525 00:28:31,480 --> 00:28:33,359 Speaker 1: this gonna be the print where we start to see 526 00:28:33,400 --> 00:28:37,480 Speaker 1: the effects of four straight seventy five basis point increases 527 00:28:37,680 --> 00:28:41,560 Speaker 1: start to have an effect on inflation. It could be 528 00:28:42,000 --> 00:28:44,240 Speaker 1: You're gonna have to look closely. It's not gonna be 529 00:28:44,280 --> 00:28:48,160 Speaker 1: a major change, And of course looking back is the 530 00:28:48,200 --> 00:28:50,920 Speaker 1: only way we get to figure out if we were 531 00:28:51,000 --> 00:28:52,920 Speaker 1: right or not. So it'll be a little while before 532 00:28:52,920 --> 00:28:55,680 Speaker 1: we know if if we have peaked, But the forecasts 533 00:28:55,680 --> 00:29:00,360 Speaker 1: are that that we are maybe an inch Uh asked 534 00:29:01,160 --> 00:29:04,040 Speaker 1: the peak of inflation. We'll see a rise in the 535 00:29:04,080 --> 00:29:08,000 Speaker 1: month over month number because energy prices went up, but 536 00:29:08,560 --> 00:29:12,640 Speaker 1: the core is expected to drop, and that will be 537 00:29:12,680 --> 00:29:14,720 Speaker 1: the sign, and the Fed is looking for that. At 538 00:29:14,800 --> 00:29:17,040 Speaker 1: least we've started in the right direction. It will be 539 00:29:17,200 --> 00:29:20,920 Speaker 1: just one sign. Of course, a lot of market participants 540 00:29:20,960 --> 00:29:23,760 Speaker 1: are starting to get into that debate of how much 541 00:29:23,800 --> 00:29:25,800 Speaker 1: of the data the Fed will need to see before 542 00:29:25,800 --> 00:29:28,320 Speaker 1: it can start to at least slow down on interest 543 00:29:28,400 --> 00:29:32,480 Speaker 1: rate hikes. Well, I think if you get UH this number, 544 00:29:33,520 --> 00:29:35,560 Speaker 1: it comes in a little bit lower, and then the 545 00:29:35,600 --> 00:29:37,959 Speaker 1: PC at the end of the month. Does we've got 546 00:29:38,000 --> 00:29:43,040 Speaker 1: another inflation report by the just before the next FED meeting, 547 00:29:43,280 --> 00:29:45,280 Speaker 1: and so at that point, I think the Fed is 548 00:29:45,520 --> 00:29:49,000 Speaker 1: going to be able to say we can do fifty. 549 00:29:49,120 --> 00:29:52,040 Speaker 1: Now the loss of this whole debate and is a 550 00:29:52,200 --> 00:29:56,760 Speaker 1: fifty basis points used to be considered a really and 551 00:29:56,880 --> 00:30:01,120 Speaker 1: now so stepping back to fifty is still a pretty 552 00:30:01,160 --> 00:30:04,120 Speaker 1: strong move in monetary policy. So what are we looking 553 00:30:04,160 --> 00:30:07,440 Speaker 1: for in terms of the core? What's gonna be driving 554 00:30:07,520 --> 00:30:12,280 Speaker 1: core inflation potentially lower? In this print, well, we are 555 00:30:12,600 --> 00:30:16,760 Speaker 1: really watching services prices. Goods prices have started fall and 556 00:30:16,800 --> 00:30:19,720 Speaker 1: we saw that in the I s M number this 557 00:30:19,840 --> 00:30:24,080 Speaker 1: past week fell down to about six which is roughly, 558 00:30:24,120 --> 00:30:26,880 Speaker 1: according to the I s M folks, compatible with one 559 00:30:26,920 --> 00:30:31,200 Speaker 1: percent inflation. So it looks like supply chains have pretty 560 00:30:31,240 --> 00:30:34,440 Speaker 1: much normalized and that's going to bring down goods prices. 561 00:30:34,680 --> 00:30:37,920 Speaker 1: Services prices are the question, Um, they have had to 562 00:30:37,960 --> 00:30:40,880 Speaker 1: pay more to find people, they're still doing it. It 563 00:30:40,960 --> 00:30:43,560 Speaker 1: seems there's still a lot of job openings in the 564 00:30:43,600 --> 00:30:47,480 Speaker 1: service sector, and so do we see service prices come 565 00:30:47,480 --> 00:30:49,440 Speaker 1: down or are they still paying up for workers. Now 566 00:30:49,440 --> 00:30:52,240 Speaker 1: we're gonna have housing as an issue for a while 567 00:30:52,400 --> 00:30:54,400 Speaker 1: because it takes a long time for that. You've heard 568 00:30:54,400 --> 00:30:57,480 Speaker 1: this before to get into and out of the CPI. 569 00:30:57,760 --> 00:31:00,960 Speaker 1: But we are starting to see prices come down a little. Yeah, 570 00:31:01,160 --> 00:31:04,680 Speaker 1: the fed like football game of inches. Thanks Mike, good 571 00:31:04,680 --> 00:31:06,840 Speaker 1: having you on with a Bloomberg Global Economics and Policy 572 00:31:06,880 --> 00:31:10,480 Speaker 1: correspondent Michael McKee ahead of October consumer prices coming out 573 00:31:10,560 --> 00:31:15,560 Speaker 1: Thursday morning, eight thirty. Wall Street Time futures pointed higher 574 00:31:15,640 --> 00:31:18,920 Speaker 1: this morning ahead of the market open. This is Bloomberg 575 00:31:22,240 --> 00:31:24,480 Speaker 1: and the Bloomberg Sports Report was brought to you by Audie. 576 00:31:24,480 --> 00:31:26,480 Speaker 1: Don't let someone else drive off in the Audi model. 577 00:31:26,520 --> 00:31:28,800 Speaker 1: You've always wanted to visit your local price state autie 578 00:31:28,800 --> 00:31:30,720 Speaker 1: dealer to get behind the wheel of yours today, or 579 00:31:30,840 --> 00:31:39,400 Speaker 1: visit Autie Offers dot com for more information, markets, headlines 580 00:31:39,440 --> 00:31:42,400 Speaker 1: and breaking news twenty four hours a day at Bloomberg 581 00:31:42,480 --> 00:31:45,800 Speaker 1: dot Com, the Bloomberg Business apt and at Bloomberg Quick Take. 582 00:31:46,440 --> 00:31:55,200 Speaker 1: He's a Bloomberg Business Flash and I'm Karen Moscow. This 583 00:31:55,280 --> 00:31:58,000 Speaker 1: update brought to you by s CIA said managers don't 584 00:31:58,000 --> 00:32:00,000 Speaker 1: get results at are off the charts when they're solution 585 00:32:00,040 --> 00:32:03,040 Speaker 1: tore off the shelf. Learn how scis operating platform can 586 00:32:03,040 --> 00:32:07,240 Speaker 1: turn infrastructure into a competitive advantage. At sci C dot com, 587 00:32:07,240 --> 00:32:09,920 Speaker 1: slash tech future is on the rise. This morning. We 588 00:32:10,000 --> 00:32:12,160 Speaker 1: go to the First Word Breaking news desk for today's 589 00:32:12,200 --> 00:32:15,600 Speaker 1: morning call, and here's Bill Maloney. Bill, good morning, and 590 00:32:15,840 --> 00:32:18,000 Speaker 1: good morning, Karen. That's right. US futures are on the 591 00:32:18,040 --> 00:32:20,440 Speaker 1: green right now, with DEWN futures up a hundred ninety points, 592 00:32:20,480 --> 00:32:24,240 Speaker 1: SIMES game twenty four one, NASA futures rise by sixty nine. 593 00:32:24,640 --> 00:32:27,480 Speaker 1: The US ten year old at four point one four percent, 594 00:32:27,600 --> 00:32:29,640 Speaker 1: Gold is down five, oil is in the red, and 595 00:32:29,720 --> 00:32:33,200 Speaker 1: bitcoin is down by one point seven percent. Hong Kong 596 00:32:33,400 --> 00:32:36,200 Speaker 1: rose two point seven percent overnight, while European markets are 597 00:32:36,200 --> 00:32:38,360 Speaker 1: trading mostly in the green this morning, and back in 598 00:32:38,400 --> 00:32:41,040 Speaker 1: the US. On the economic front, at three o'clock, Consumer 599 00:32:41,120 --> 00:32:44,080 Speaker 1: Credit and other news people familiar so that Apple expects 600 00:32:44,080 --> 00:32:48,200 Speaker 1: to produce at least three million fewer iPhones than originally anticipated. 601 00:32:48,480 --> 00:32:51,280 Speaker 1: Morgan Stanley's Wilson says US mid terms could fuel an 602 00:32:51,280 --> 00:32:54,240 Speaker 1: equity rally, and the Wall Street Journey report that Facebook 603 00:32:54,280 --> 00:32:58,480 Speaker 1: may start job cuts affecting thousands of employees. On Wednesday, 604 00:32:58,600 --> 00:33:00,719 Speaker 1: Wrapping things up, n o V was race to equally 605 00:33:01,120 --> 00:33:04,480 Speaker 1: over at Wells Fargo, live from the first Baging News discon. 606 00:33:04,600 --> 00:33:06,719 Speaker 1: Bill Maloney, care, all right, Gil, thank you to here 607 00:33:06,760 --> 00:33:09,239 Speaker 1: live breaking news. Over your Bloomberg type squawk on your 608 00:33:09,320 --> 00:33:12,120 Speaker 1: termin I'll ascue you a wuk and that's a Bloomberg 609 00:33:12,160 --> 00:33:14,880 Speaker 1: business flash. Now here's Michael Barr with more on what's 610 00:33:14,880 --> 00:33:17,640 Speaker 1: going on around the world. Michael Karen, thank you very much. 611 00:33:17,680 --> 00:33:22,360 Speaker 1: Tuesday is the mid term elections nationwide. More than forty 612 00:33:22,400 --> 00:33:26,280 Speaker 1: million Americans have already cast their ballot. The election could 613 00:33:26,280 --> 00:33:30,360 Speaker 1: shift the balance of power in Congress. North Korea's military 614 00:33:30,480 --> 00:33:34,840 Speaker 1: says it's recent barrage of missile tests were practices to 615 00:33:35,080 --> 00:33:39,800 Speaker 1: mercilessly strike key South Korean and US targets, such as 616 00:33:39,840 --> 00:33:43,400 Speaker 1: air bases and operation command systems, with a variety of 617 00:33:43,520 --> 00:33:48,520 Speaker 1: missiles that likely included nuclear capable weapons. The North's military 618 00:33:48,720 --> 00:33:52,520 Speaker 1: said today it's missile tests were reaction to last week's 619 00:33:52,600 --> 00:33:56,200 Speaker 1: massive air force drills between the US and South Korea. 620 00:33:56,600 --> 00:34:01,520 Speaker 1: In the NFL, the Jets beat the Bills, The Patriots won, 621 00:34:01,640 --> 00:34:04,880 Speaker 1: the Commander has lost. The Ravens play the Saints tonight. 622 00:34:05,240 --> 00:34:07,840 Speaker 1: In the NHL, the Rangers lost in overtime to the 623 00:34:07,840 --> 00:34:11,960 Speaker 1: Red Wings three two. In the NBA, The Wizards lost. 624 00:34:12,320 --> 00:34:15,239 Speaker 1: Global News twenty four hours a day on air and 625 00:34:15,440 --> 00:34:18,560 Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred 626 00:34:18,640 --> 00:34:21,600 Speaker 1: journalists and analysts more than a hundred twenty countries. I'm 627 00:34:21,600 --> 00:34:25,640 Speaker 1: Michael barn This is Bloomberg. The following commentary is from 628 00:34:25,680 --> 00:34:30,640 Speaker 1: Bloomberg Opinion. Our Republicans write about America's crime wave. Let's 629 00:34:30,640 --> 00:34:33,160 Speaker 1: look at the data. I'm Justin Fox, a columnist for 630 00:34:33,200 --> 00:34:36,040 Speaker 1: Bloomberg Opinion. Crime has become a big issue in the 631 00:34:36,120 --> 00:34:39,720 Speaker 1: U S. Midterm elections. That's understandable given that the national 632 00:34:39,760 --> 00:34:43,400 Speaker 1: homicide rate rose thirty five percent over the past two years, 633 00:34:43,719 --> 00:34:46,920 Speaker 1: leaving at the highest dispense since the nineteen nineties. Murders 634 00:34:46,960 --> 00:34:49,760 Speaker 1: do appear to be down slightly this year. An incidents 635 00:34:49,800 --> 00:34:52,040 Speaker 1: of other crimes did not spike in the same way 636 00:34:52,120 --> 00:34:55,400 Speaker 1: during the pandemic. Property crime actually fell, but his life 637 00:34:55,400 --> 00:34:58,440 Speaker 1: returns to more or less normal. This seems to be changing. 638 00:34:58,719 --> 00:35:01,480 Speaker 1: Robbery was up thirty percent as of mid year in 639 00:35:01,560 --> 00:35:04,759 Speaker 1: seventy major U. S cities in New York City, where 640 00:35:04,800 --> 00:35:08,240 Speaker 1: murder is down fourteen percent. So far this year, major 641 00:35:08,320 --> 00:35:11,240 Speaker 1: crimes overall are up thirty percent and at the highest 642 00:35:11,320 --> 00:35:14,080 Speaker 1: level since two thousand six. That's sure seems like a 643 00:35:14,120 --> 00:35:17,480 Speaker 1: crime wave. I'm justin Fox. For more opinion, please go 644 00:35:17,520 --> 00:35:20,480 Speaker 1: to Bloomberg dot com slash opinion or O P I 645 00:35:20,680 --> 00:35:23,960 Speaker 1: n go on the Bloomberg terminal. These has been Bloomberg 646 00:35:23,960 --> 00:35:27,600 Speaker 1: Opinion and Bloomberg Opinion commentaries can be heard every weekday 647 00:35:27,600 --> 00:35:30,319 Speaker 1: at this time and terminal customers can read more at 648 00:35:30,320 --> 00:35:33,279 Speaker 1: O P I n go. It is six fifty on 649 00:35:33,320 --> 00:35:35,440 Speaker 1: Wall Street and we turned to news and science and 650 00:35:35,480 --> 00:35:38,760 Speaker 1: technology now at the Bloomberg n j I T Stammer report, 651 00:35:38,800 --> 00:35:42,040 Speaker 1: bronze U buy New Jersey Institute of Technology as one 652 00:35:42,040 --> 00:35:45,480 Speaker 1: of the nation's leading polytechnic universities at a top military 653 00:35:45,560 --> 00:35:49,280 Speaker 1: friendly school, and j I T supports America's service members 654 00:35:49,320 --> 00:35:51,520 Speaker 1: and their families. Learn more at n j I T 655 00:35:51,719 --> 00:35:54,480 Speaker 1: dot E d U slash veterans. Now Here's this making 656 00:35:54,520 --> 00:35:58,240 Speaker 1: news and science, technology, engineering and math. You and climate 657 00:35:58,280 --> 00:36:00,080 Speaker 1: talks in Egypt have a gun with a deal to 658 00:36:00,120 --> 00:36:02,560 Speaker 1: discuss how rich countries can help pay for the damage 659 00:36:02,600 --> 00:36:06,640 Speaker 1: caused by global warming Elsewhere, the breakthrough will allow diplomats 660 00:36:06,680 --> 00:36:09,560 Speaker 1: to officially debate loss and damage during the two week 661 00:36:09,640 --> 00:36:13,360 Speaker 1: COP twenty seven meetings for the first time. Industrialized nations 662 00:36:13,360 --> 00:36:16,760 Speaker 1: have repeatedly blocked efforts to addess to the agenda, despite 663 00:36:16,760 --> 00:36:21,160 Speaker 1: demands from developing countries. China's daily COVID cases jump to 664 00:36:21,200 --> 00:36:24,400 Speaker 1: the highest and more than six months outbreaks flared across 665 00:36:24,400 --> 00:36:26,560 Speaker 1: the nation, and how the officials declare the nation will 666 00:36:26,600 --> 00:36:30,319 Speaker 1: stick with its strict virus controls and better catch the 667 00:36:30,360 --> 00:36:33,400 Speaker 1: Moon's disappearing act tomorrow. There won't be another like it 668 00:36:33,560 --> 00:36:36,440 Speaker 1: for three years. The total lunar eclipse will be villas 669 00:36:36,640 --> 00:36:39,319 Speaker 1: visible throughout North America on the pre dawn hours, the 670 00:36:39,360 --> 00:36:42,560 Speaker 1: farther west the better, and across Asia, Australia and the 671 00:36:42,600 --> 00:36:45,640 Speaker 1: rest of the Pacific after sunset. As an extra treat 672 00:36:45,760 --> 00:36:48,919 Speaker 1: URINEUS will be visible just a fingers width above the Moon, 673 00:36:49,239 --> 00:36:53,160 Speaker 1: resembling a bright star, and totality will at last nearly 674 00:36:53,160 --> 00:36:55,720 Speaker 1: one and a half hours as Earth passes directly between 675 00:36:55,719 --> 00:36:58,319 Speaker 1: the Moon and Sun, and as the Bloomberg and j 676 00:36:58,480 --> 00:37:01,440 Speaker 1: I t Stem report name in Okay, Karen, thank you. 677 00:37:01,480 --> 00:37:03,759 Speaker 1: We are live from the Bloomberg Interactive Brokers studios where 678 00:37:03,760 --> 00:37:05,719 Speaker 1: it's six fifty two on Wall Street Time. Now to 679 00:37:05,760 --> 00:37:07,760 Speaker 1: check what's going on in DC or the top story 680 00:37:07,880 --> 00:37:11,880 Speaker 1: is the final campaign sprint to tomorrow's midterm election. The 681 00:37:11,960 --> 00:37:15,400 Speaker 1: latest Washington Post ABC News poll has Republicans in position 682 00:37:15,440 --> 00:37:18,480 Speaker 1: to take the House, but Democrat Corey Booker tells ABC's 683 00:37:18,560 --> 00:37:20,759 Speaker 1: This Week he sees a path for his party to 684 00:37:20,880 --> 00:37:23,359 Speaker 1: keep the Senate. And even though our economy is tough, 685 00:37:23,400 --> 00:37:25,120 Speaker 1: people think about it and say, wait a minute, this 686 00:37:25,160 --> 00:37:27,880 Speaker 1: is the party trying to protect unions. This is the 687 00:37:27,920 --> 00:37:31,120 Speaker 1: party that made sure we did things to lower prescription 688 00:37:31,200 --> 00:37:34,560 Speaker 1: drug costs and lower healthcare costs, and House the majority 689 00:37:34,600 --> 00:37:38,400 Speaker 1: with James Clyburn tells Fox News Sunday, democracy itself is 690 00:37:38,440 --> 00:37:43,920 Speaker 1: on the ballot tomorrow. There the nine they're trying to delete. 691 00:37:44,600 --> 00:37:49,440 Speaker 1: They're trying to NUI five votes vote against that. Republican 692 00:37:49,520 --> 00:37:52,280 Speaker 1: Senator Rick Scott was asked on NBC's Meat the Press 693 00:37:52,280 --> 00:37:55,239 Speaker 1: whether he'd accept the results of Senate elections. Absolutely, but 694 00:37:55,280 --> 00:37:56,960 Speaker 1: what we're also gonna do is do everything we can 695 00:37:57,040 --> 00:37:59,600 Speaker 1: to make sure everybody they're free and fair. And if 696 00:37:59,600 --> 00:38:02,360 Speaker 1: anybody you do, if there's any shenanigans, we're ready to 697 00:38:02,400 --> 00:38:05,400 Speaker 1: make sure we make sure we support our Canadas to 698 00:38:05,400 --> 00:38:08,000 Speaker 1: make sure that these elections are fair and every ballot 699 00:38:08,040 --> 00:38:10,080 Speaker 1: is counted. The right way, and on CBS is Face 700 00:38:10,160 --> 00:38:12,759 Speaker 1: the Nation. Chris Krebs, former head of the agency that 701 00:38:12,840 --> 00:38:16,000 Speaker 1: ensured the integrity of the election, said, there are already 702 00:38:16,040 --> 00:38:19,279 Speaker 1: reports of foreign actors trying to undermine tomorrow's vote. They 703 00:38:19,400 --> 00:38:23,080 Speaker 1: recognize that political discourse is very divisive here in the US, 704 00:38:23,120 --> 00:38:26,040 Speaker 1: and they have more opportunities, uh probably than ever before, 705 00:38:26,360 --> 00:38:30,200 Speaker 1: to continue to undermine confidence, to create chaos, which is 706 00:38:30,200 --> 00:38:33,720 Speaker 1: really their primary objective. Face the Nation, Meet the Press, 707 00:38:33,760 --> 00:38:35,799 Speaker 1: Fox News Sunday and this week can all be heard 708 00:38:35,840 --> 00:38:38,920 Speaker 1: every Sunday right here on Bloomberg Radio and Bloomberg Government 709 00:38:38,960 --> 00:38:42,120 Speaker 1: reporter Emily Wilkins joins me now in this final full 710 00:38:42,239 --> 00:38:45,839 Speaker 1: day before tomorrow's election day. So Emily, what are you 711 00:38:45,920 --> 00:38:49,799 Speaker 1: focused on ahead of the mid term vote? So many 712 00:38:49,840 --> 00:38:51,759 Speaker 1: different things, Nathan, and and we should point out that 713 00:38:51,800 --> 00:38:55,239 Speaker 1: at this point there have been over forty million mail 714 00:38:55,280 --> 00:38:57,920 Speaker 1: and ballots and early votes that have already been placed, 715 00:38:57,920 --> 00:39:01,200 Speaker 1: so this thing is well underway. And also tomorrow might 716 00:39:01,200 --> 00:39:04,359 Speaker 1: not be the big finale. We might not know by 717 00:39:04,400 --> 00:39:07,360 Speaker 1: the end of tomorrow who controls the House, who controls 718 00:39:07,400 --> 00:39:09,359 Speaker 1: the Senate. But I think there's a really good point 719 00:39:09,360 --> 00:39:12,440 Speaker 1: there that, yes, the main question is the Senate. The 720 00:39:12,480 --> 00:39:15,480 Speaker 1: House is likely to go to Republicans. We could see 721 00:39:15,480 --> 00:39:19,319 Speaker 1: anywhere from them picking up a dozen seats to five seats, um. 722 00:39:19,400 --> 00:39:22,240 Speaker 1: All of that would give them the power to control 723 00:39:22,320 --> 00:39:24,560 Speaker 1: the House next year. But I think the Senate is 724 00:39:24,640 --> 00:39:26,480 Speaker 1: very much still in play. You've got to keep an 725 00:39:26,480 --> 00:39:29,120 Speaker 1: eye on Pennsylvania. You gotta keep an eye in Nevada. 726 00:39:29,239 --> 00:39:31,319 Speaker 1: You gotta keep an eye on Georgia, which might go 727 00:39:31,400 --> 00:39:34,280 Speaker 1: to a runoff situation. Again, we might again be waiting 728 00:39:34,320 --> 00:39:37,120 Speaker 1: to know, UM. So I think tomorrow is gonna gonna 729 00:39:37,160 --> 00:39:40,400 Speaker 1: start off a little bit of waiting for process to 730 00:39:40,480 --> 00:39:44,160 Speaker 1: see exactly how good of a night Republicans have. UM. 731 00:39:44,200 --> 00:39:47,239 Speaker 1: At this point, there is a lot of expectation, uh, 732 00:39:47,280 --> 00:39:49,200 Speaker 1: that that the winds will be in their favor and 733 00:39:49,239 --> 00:39:51,640 Speaker 1: that they are going to control at least one chamber 734 00:39:51,640 --> 00:39:54,839 Speaker 1: of Congress next year. Among those states that could be 735 00:39:54,840 --> 00:39:58,200 Speaker 1: competitive tomorrow night, Emily, I didn't hear you mentioned the 736 00:39:58,200 --> 00:40:00,960 Speaker 1: one that President Biden was in last night. That's New 737 00:40:01,080 --> 00:40:05,759 Speaker 1: York State. Got a pretty surprisingly competitive governor's race happening there. 738 00:40:06,680 --> 00:40:09,040 Speaker 1: It does it as a competitive governor's race. It has 739 00:40:09,080 --> 00:40:12,120 Speaker 1: a number of competitive House races, UM, And we might 740 00:40:12,160 --> 00:40:14,239 Speaker 1: not it might take a while for them to count 741 00:40:14,320 --> 00:40:17,080 Speaker 1: up their votes. But yes, Biden was there that week 742 00:40:18,120 --> 00:40:23,200 Speaker 1: yesterday campaigning with a governor Kathy Hoco. Um. You know, 743 00:40:23,280 --> 00:40:26,000 Speaker 1: she had for a while a pretty considerable lead on 744 00:40:26,040 --> 00:40:30,480 Speaker 1: her Republican nominee, Congressman Lee Selden, but that's really tightened 745 00:40:30,560 --> 00:40:34,160 Speaker 1: in past weeks as Zelden has continually hit her on 746 00:40:34,400 --> 00:40:38,080 Speaker 1: crime rates, crime going up. And so last night Biden 747 00:40:38,200 --> 00:40:41,120 Speaker 1: used that exact same playbook. He came up, he campaigned 748 00:40:41,120 --> 00:40:44,520 Speaker 1: with hocol and he criticized Selden's record on crime. He 749 00:40:44,600 --> 00:40:48,160 Speaker 1: criticized him for not supporting the assault weapons bans, for 750 00:40:48,280 --> 00:40:50,640 Speaker 1: not standing up to the n r A. And I 751 00:40:50,680 --> 00:40:52,600 Speaker 1: think it goes to show just how much of an 752 00:40:52,640 --> 00:40:56,040 Speaker 1: important issue crime has become with this election. We've seen 753 00:40:56,080 --> 00:40:58,480 Speaker 1: it in New York, we've seen it in places like Oregon. 754 00:40:58,880 --> 00:41:03,000 Speaker 1: Really shape a couple of these congressional races in areas 755 00:41:03,000 --> 00:41:05,680 Speaker 1: where people are concerned. It's a lot of suburban areas 756 00:41:05,719 --> 00:41:08,239 Speaker 1: where folks are concerned about all these high crime rates 757 00:41:08,239 --> 00:41:10,840 Speaker 1: they've heard in the city. Um, and they're worried that 758 00:41:10,880 --> 00:41:14,560 Speaker 1: they might be coming to where folks live outside the city. 759 00:41:14,800 --> 00:41:16,640 Speaker 1: Only about a minute left here, Emily. But if we 760 00:41:16,719 --> 00:41:20,120 Speaker 1: don't get firm results after tomorrow night, are you looking 761 00:41:20,120 --> 00:41:23,400 Speaker 1: out for the possibility of doubts being raised about the 762 00:41:23,440 --> 00:41:26,520 Speaker 1: integrity of the election? Got about a minute left here. Well, 763 00:41:26,520 --> 00:41:28,799 Speaker 1: we know that there are folks who to continue to 764 00:41:28,840 --> 00:41:32,840 Speaker 1: deny the results of the legitimate election, and there's a 765 00:41:32,920 --> 00:41:35,640 Speaker 1: chance that we could see more folks doing that tomorrow 766 00:41:35,680 --> 00:41:39,480 Speaker 1: at a number of state level and federal level races. UM. 767 00:41:39,520 --> 00:41:41,799 Speaker 1: I think those to a certain extent, there's a lot 768 00:41:41,800 --> 00:41:44,239 Speaker 1: of expectation setting right. And so now we've been through 769 00:41:44,280 --> 00:41:46,799 Speaker 1: an election where we've had mail and ballots, where you've 770 00:41:46,840 --> 00:41:49,400 Speaker 1: seen how things can shift between what happens with the 771 00:41:49,440 --> 00:41:51,400 Speaker 1: mail and what happens with the vote, what happens with 772 00:41:51,440 --> 00:41:53,719 Speaker 1: the vote, what happens with the mail, and and every 773 00:41:53,760 --> 00:41:56,160 Speaker 1: state is a little bit different. There are certain states, um, 774 00:41:56,239 --> 00:41:59,200 Speaker 1: like North Carolina and Florida where mail and bells tend 775 00:41:59,239 --> 00:42:01,440 Speaker 1: to get counted for so Democrats are gonna look like 776 00:42:01,480 --> 00:42:02,960 Speaker 1: they have a good night and then we're gonna see 777 00:42:03,000 --> 00:42:05,680 Speaker 1: Republicans catch up in there are states where that's absolutely 778 00:42:05,719 --> 00:42:08,680 Speaker 1: the opposite. And so hopefully everyone's learned a little bit 779 00:42:08,680 --> 00:42:12,560 Speaker 1: more after the elections. But there are absolutely folks out there, 780 00:42:12,560 --> 00:42:15,600 Speaker 1: I think who are are ready to question the validity 781 00:42:15,640 --> 00:42:19,000 Speaker 1: of the election should they not win. Thanks Emily. As always, 782 00:42:19,000 --> 00:42:21,360 Speaker 1: they're gonna be very busy tomorrow night and potentially for 783 00:42:21,400 --> 00:42:24,360 Speaker 1: the days to come following this midterm that's Bloomberg Government 784 00:42:24,360 --> 00:42:27,279 Speaker 1: reporter Emily Wilkins with us from the nation's capital. You 785 00:42:27,320 --> 00:42:29,480 Speaker 1: can read more on Bloomberg dot com or on the 786 00:42:29,480 --> 00:42:33,719 Speaker 1: Bloomberg terminal. Listen to Bloomberg Radio in Washington Bloomberg and 787 00:42:33,760 --> 00:42:36,080 Speaker 1: one oh five point seven FM HD two that will 788 00:42:36,120 --> 00:42:40,000 Speaker 1: be the hub of our mid term election coverage. Bloomberg 789 00:42:40,040 --> 00:42:43,040 Speaker 1: Surveillance is next with Tom Keene, Jonathan Farrell, and Lisa 790 00:42:43,120 --> 00:42:47,560 Speaker 1: Brambowitz for Karen Moscow. I'm Nathan Hager. This is Bloomberg