1 00:00:02,600 --> 00:00:05,960 Speaker 1: Live from the Bloomberg Interactor Brooker Studios. This is Bloomberg 2 00:00:06,040 --> 00:00:09,800 Speaker 1: day Break for Wednesday, July six two. Coming up this hour, 3 00:00:10,080 --> 00:00:13,480 Speaker 1: UK Prime Minister Boris Johnson clings to power or at 4 00:00:13,520 --> 00:00:15,720 Speaker 1: ten Downing Street, were the ladies, the U S and 5 00:00:15,840 --> 00:00:19,520 Speaker 1: China holds talks on the war in Ukraine. Oil stabilizes 6 00:00:19,560 --> 00:00:22,919 Speaker 1: have to yesterday's eight percent so long, and Amazon takes 7 00:00:22,920 --> 00:00:26,239 Speaker 1: a steak in grab hung your Jersey Governor Murphy science 8 00:00:26,280 --> 00:00:29,800 Speaker 1: new gun legislation, plus New York Mayor Adams announced as 9 00:00:29,800 --> 00:00:33,080 Speaker 1: a plan to get ghost cars off the streets. I'm 10 00:00:33,120 --> 00:00:36,560 Speaker 1: Michael barn Or ahead, and I'm Scott Sedinberg. Both the 11 00:00:36,600 --> 00:00:39,520 Speaker 1: Yankees ended, Mets lose, plus it up thet on Wimbledon. 12 00:00:39,720 --> 00:00:44,560 Speaker 1: I'll have that and more coming up in sports. That's 13 00:00:44,560 --> 00:00:47,839 Speaker 1: all strading ahead on Bloomberg day Break on Bloomberg, he 14 00:00:47,920 --> 00:00:52,440 Speaker 1: Living freon New York, Bloomberg on Washington, d C, Bloomberg 15 00:00:52,479 --> 00:00:56,000 Speaker 1: one oh six one, Boston, Bloomberg nine sixties and Francisco 16 00:00:56,400 --> 00:00:59,320 Speaker 1: Syrius x M one nineteen and around the world on 17 00:00:59,440 --> 00:01:02,800 Speaker 1: Bloomberg Radio dot Com and via the Bloomberg Business Act. 18 00:01:07,520 --> 00:01:10,400 Speaker 1: Good morning, I'm John Tucker and I'm Karen, Moscow when 19 00:01:10,480 --> 00:01:13,520 Speaker 1: US duncan next. Futures are little change this morning. We're 20 00:01:13,560 --> 00:01:15,160 Speaker 1: coming up to six o one on Wall Street. We 21 00:01:15,280 --> 00:01:17,720 Speaker 1: checked the markets every fifteen minutes throughout the trading day 22 00:01:17,800 --> 00:01:21,919 Speaker 1: on Bloomberg, and futures are trimming their declines. The decks 23 00:01:21,959 --> 00:01:24,720 Speaker 1: in Germany is higher, up one point four percent, can't 24 00:01:24,720 --> 00:01:27,080 Speaker 1: comparis up one point six percent, and the foot Sea 25 00:01:27,120 --> 00:01:30,080 Speaker 1: one hundred one and a half percent. Ten. Your treasury 26 00:01:30,080 --> 00:01:32,640 Speaker 1: down one thirty second yield two point eight zero percent. 27 00:01:32,720 --> 00:01:35,679 Speaker 1: They yield on the two year two point eight three percent. 28 00:01:36,200 --> 00:01:39,000 Speaker 1: Comic School, this little change at one thousand, seven hundred 29 00:01:39,040 --> 00:01:42,120 Speaker 1: sixty two dollars announced, the Euro one point two to 30 00:01:42,360 --> 00:01:45,000 Speaker 1: five against the dollar, the n one five point three 31 00:01:45,000 --> 00:01:48,920 Speaker 1: each too, and bitcoin is at twenty nine dollars, down 32 00:01:48,920 --> 00:01:51,560 Speaker 1: one and a quarter percent. John, Karen, We're gonna have 33 00:01:51,560 --> 00:01:53,480 Speaker 1: more in the markets and just a minute, but first 34 00:01:53,480 --> 00:01:55,640 Speaker 1: we're gonna start with the latest on the future of 35 00:01:55,760 --> 00:01:59,960 Speaker 1: Boris Johnson, the British Prime minister clinging to power following 36 00:02:00,000 --> 00:02:03,720 Speaker 1: the resignations of two senior members of his government. Let's 37 00:02:03,760 --> 00:02:07,400 Speaker 1: get more from Bloomberg's Lizzie Burden outside Number ten, Downing Street, 38 00:02:07,760 --> 00:02:11,480 Speaker 1: started with a surprise apology from Boris Johnson about his 39 00:02:11,520 --> 00:02:14,160 Speaker 1: handling of the Chris Pincher affair, which of course is 40 00:02:14,200 --> 00:02:17,560 Speaker 1: just the latest chapter of the Pestminster story or these 41 00:02:17,840 --> 00:02:21,880 Speaker 1: alleged sexual misconduct scandals. But that was quickly followed by 42 00:02:21,919 --> 00:02:24,680 Speaker 1: the resignations. But two of his most senior team started 43 00:02:24,760 --> 00:02:27,959 Speaker 1: dab at, the Health Secretary and the Chancellor Isshi Snat. 44 00:02:28,000 --> 00:02:31,920 Speaker 1: Both their resignation letters attacked his integrity. And then it 45 00:02:32,040 --> 00:02:35,440 Speaker 1: was the Attorney General and a string of junior government members. 46 00:02:35,520 --> 00:02:37,919 Speaker 1: So it does seem that the tide is finally started 47 00:02:38,040 --> 00:02:41,160 Speaker 1: turn against Boris Johnson. He came back with an emergency 48 00:02:41,200 --> 00:02:45,720 Speaker 1: we shuffle, trying to show his fighting back. Bloomberg's Lizzie Burden, 49 00:02:45,800 --> 00:02:49,640 Speaker 1: reporting outside ten Downing Streets, says Johnson will face questions 50 00:02:49,919 --> 00:02:52,400 Speaker 1: in the House of Commons today. It will also be 51 00:02:53,320 --> 00:02:57,280 Speaker 1: pure before a Parliamentary committee. Well, another political news this morning, 52 00:02:57,360 --> 00:02:59,880 Speaker 1: john Foreign ministers from the Group of Twenty Nations are 53 00:03:00,000 --> 00:03:03,239 Speaker 1: gathering in Bali, Indonesia, and Russia's invasion of Ukraine will 54 00:03:03,280 --> 00:03:06,200 Speaker 1: top the agenda at the meeting. Nathan Hagar has more 55 00:03:06,240 --> 00:03:10,000 Speaker 1: from our Bloomberg One newsroom in Washington, Secretary of State 56 00:03:10,040 --> 00:03:12,800 Speaker 1: Anthony B. Lincoln heads to the G twenty summit today. 57 00:03:12,919 --> 00:03:15,280 Speaker 1: The top US official says he will meet this weekend 58 00:03:15,360 --> 00:03:18,400 Speaker 1: with his Chinese counterpart Wang Yee for a quote candid 59 00:03:18,480 --> 00:03:21,119 Speaker 1: exchange about the war and what the U. S Expects 60 00:03:21,200 --> 00:03:24,040 Speaker 1: not just from China, but from all responsible members of 61 00:03:24,080 --> 00:03:27,040 Speaker 1: the international community. This will be Blincoln's first face to 62 00:03:27,080 --> 00:03:30,639 Speaker 1: face encounter with Wong since October. The State Department says 63 00:03:30,720 --> 00:03:33,520 Speaker 1: Lincoln is not expected to meet with Russian Foreign Minister 64 00:03:33,560 --> 00:03:36,600 Speaker 1: Sergei Lavrov. He is also planning to attend the G 65 00:03:36,760 --> 00:03:41,240 Speaker 1: twenty summit in Washington. I'm Nathan Hagar Bloomberg Daybreak. Thanks Nathan. 66 00:03:41,640 --> 00:03:45,720 Speaker 1: The Secretary General of OPEK has died. Mohammed Barkindo was 67 00:03:45,760 --> 00:03:47,600 Speaker 1: in the final weeks of his six year ten years 68 00:03:47,640 --> 00:03:49,880 Speaker 1: the head of the oil cartel when he died in 69 00:03:49,960 --> 00:03:53,120 Speaker 1: his native Nigeria, where it kinda oversaw one of the 70 00:03:53,160 --> 00:03:57,800 Speaker 1: most turbulent periods in OPEC's history. He was sixty three. Meantime, 71 00:03:57,840 --> 00:04:00,440 Speaker 1: in the markets, John Oil is recovering some of esterday's 72 00:04:00,480 --> 00:04:02,920 Speaker 1: eight percent loss. Checking prances right now and I'm ex 73 00:04:02,960 --> 00:04:05,760 Speaker 1: screwed Oil is up four tenths percent. It's a ninety 74 00:04:06,360 --> 00:04:09,000 Speaker 1: eighty nine cents of barrel Brent is up one percent 75 00:04:09,040 --> 00:04:12,560 Speaker 1: and a hundred three dollars eighties cents banks including Goldman Sactually, 76 00:04:12,640 --> 00:04:15,480 Speaker 1: the recent plunge on recession fears is overdone and the 77 00:04:15,480 --> 00:04:18,640 Speaker 1: outlook for energy consumption in China is improving. And in 78 00:04:18,720 --> 00:04:21,400 Speaker 1: Asia over nine stocks dip as fears of an economic 79 00:04:21,440 --> 00:04:25,080 Speaker 1: downturn lingered over financial markets and that have the dollar 80 00:04:25,279 --> 00:04:27,560 Speaker 1: hovering at the highest level in more than two years. 81 00:04:27,920 --> 00:04:31,560 Speaker 1: Let's get the recap from Bloomberg's Juliet Sally and Singapore. 82 00:04:32,040 --> 00:04:34,280 Speaker 1: China chipmakers were one of the few bright spots in 83 00:04:34,320 --> 00:04:37,120 Speaker 1: the markets Wednesday, after Bloomberg News reported the US is 84 00:04:37,160 --> 00:04:40,120 Speaker 1: pushing the Netherlands to ban a s mL holding from 85 00:04:40,120 --> 00:04:43,799 Speaker 1: selling to China technology essential in making a large chunk 86 00:04:43,839 --> 00:04:47,040 Speaker 1: of the world's chips. But Asian energy stocks lost all 87 00:04:47,080 --> 00:04:50,039 Speaker 1: this year's gains as crude oil struggled to regain Tuesday's 88 00:04:50,040 --> 00:04:53,000 Speaker 1: steet losses bod a new program of virus testing in 89 00:04:53,040 --> 00:04:56,320 Speaker 1: Shanghai has raised the likelihood of another lookdown and that 90 00:04:56,360 --> 00:05:00,480 Speaker 1: weight on investor sentiment during Wednesday session in Singapore, Juliette 91 00:05:00,480 --> 00:05:04,039 Speaker 1: Sally Bloomberg daybreak right Juliette. While here in the US, 92 00:05:04,160 --> 00:05:07,920 Speaker 1: futures have been erasing their losses following yesterday's late day rally. 93 00:05:08,000 --> 00:05:10,200 Speaker 1: At one point, the S and P five is down 94 00:05:10,200 --> 00:05:13,400 Speaker 1: more than two percent before ending the day higher. Sylvia 95 00:05:13,520 --> 00:05:17,560 Speaker 1: Oblonsky is chief investment officer at Defian CTFs. You know, 96 00:05:17,600 --> 00:05:19,240 Speaker 1: I think in the near term we get that range 97 00:05:19,240 --> 00:05:23,599 Speaker 1: found volatility. But investors that you have been waiting for 98 00:05:23,839 --> 00:05:26,280 Speaker 1: something might be thinking, you know, we can't call the 99 00:05:26,320 --> 00:05:29,640 Speaker 1: bottom here, but is it possible that the market has 100 00:05:29,680 --> 00:05:31,919 Speaker 1: done some of the work for the Fed? And is 101 00:05:31,920 --> 00:05:34,600 Speaker 1: it possible that putting that first dollar to work makes 102 00:05:34,600 --> 00:05:37,960 Speaker 1: sense here? Sylvia Oblonsky at Defian c t F says 103 00:05:38,000 --> 00:05:41,000 Speaker 1: the markets are already pricing in a recession, and on 104 00:05:41,080 --> 00:05:43,839 Speaker 1: the economic calendar today we get minutes from the Federal 105 00:05:43,880 --> 00:05:47,400 Speaker 1: Reserves June meeting. That's when the central bankers raised the 106 00:05:47,400 --> 00:05:50,960 Speaker 1: interest rate by seventy basis points. Meantime, economists say a 107 00:05:50,960 --> 00:05:54,839 Speaker 1: broad index of inflation expectations that the Fed watches is 108 00:05:54,880 --> 00:05:57,840 Speaker 1: expensive to show a big rise when it's published later 109 00:05:57,880 --> 00:06:00,480 Speaker 1: this month. Well, in corporate news, this more ning John, 110 00:06:00,520 --> 00:06:02,840 Speaker 1: it looks like Amazon is on the acquisition trail, and 111 00:06:02,920 --> 00:06:05,280 Speaker 1: we get the latest lie from Bloomberg's Randy A Young 112 00:06:05,360 --> 00:06:08,080 Speaker 1: good morning, Ready to good morning, Karen. Amazon will get 113 00:06:08,120 --> 00:06:11,200 Speaker 1: options for US two percent Steak and grub Hub, and 114 00:06:11,200 --> 00:06:14,320 Speaker 1: we'll have the chance to increase that holding to fifteen percent. 115 00:06:14,760 --> 00:06:17,520 Speaker 1: Amazon Steak will be in the form of warrants. They'll 116 00:06:17,560 --> 00:06:20,480 Speaker 1: vest depending on how well the partnership performs and how 117 00:06:20,520 --> 00:06:23,440 Speaker 1: many new customers come as a result. It's a relief 118 00:06:23,480 --> 00:06:26,440 Speaker 1: for the struggling grub Hub, which in April announced plans 119 00:06:26,480 --> 00:06:29,760 Speaker 1: to find an investor or bidd shares for parent company. 120 00:06:29,880 --> 00:06:32,560 Speaker 1: Just Eat jumped as much as six percent to an 121 00:06:32,600 --> 00:06:36,480 Speaker 1: Amsterdam today. The stock had fallen close to seventy percent 122 00:06:36,720 --> 00:06:39,200 Speaker 1: this year. Live in New York, I'm gonna need a 123 00:06:39,240 --> 00:06:41,240 Speaker 1: Young Bloomberg day break, all right, thanks riding to the 124 00:06:41,320 --> 00:06:46,040 Speaker 1: crypto crash has claimed another victim. Broker Voyager Digital, has 125 00:06:46,080 --> 00:06:49,760 Speaker 1: filed for Chapter eleven bankruptcy protection. The New York based 126 00:06:49,760 --> 00:06:53,040 Speaker 1: firm sites market volatility and the collapse of a hedge 127 00:06:53,040 --> 00:06:56,279 Speaker 1: fund to which it had lent money and in future 128 00:06:56,360 --> 00:06:59,560 Speaker 1: is this morning our little change. The dacts in Germany 129 00:06:59,600 --> 00:07:01,520 Speaker 1: is up one point four percent and the ten year 130 00:07:01,560 --> 00:07:04,440 Speaker 1: treasury down three thirty seconds. You know two point eight 131 00:07:04,520 --> 00:07:07,119 Speaker 1: one percent. They yield on the two year two point 132 00:07:07,200 --> 00:07:10,080 Speaker 1: eight three per cent. And taking a look at crypto 133 00:07:10,360 --> 00:07:14,880 Speaker 1: bitcoin down one at one d seventy seven dollars straight ahead, 134 00:07:14,880 --> 00:07:17,440 Speaker 1: you're like this to local headlines plus a check of 135 00:07:17,560 --> 00:07:24,720 Speaker 1: sports and this is Bloomberg. Thanksn six or seven of walls. 136 00:07:24,760 --> 00:07:26,840 Speaker 1: Creet pant time to bring in Michael barn to find 137 00:07:26,840 --> 00:07:29,080 Speaker 1: out one else is going on in New York hand 138 00:07:29,560 --> 00:07:31,600 Speaker 1: around the world. Yeah, and thank you very much, sir. 139 00:07:31,680 --> 00:07:34,720 Speaker 1: The gunman accused of attacking and Independence Day parade in 140 00:07:34,800 --> 00:07:38,320 Speaker 1: suburban Chicago has been charged now with seven counts of 141 00:07:38,360 --> 00:07:41,800 Speaker 1: first degree murder, and more charges are expected. Lake County 142 00:07:41,920 --> 00:07:45,240 Speaker 1: State's Attorney Eric Reinhardt, the loss of life and these 143 00:07:45,280 --> 00:07:50,040 Speaker 1: devastating injuries and the overwhelming psychological trauma demand we see 144 00:07:50,160 --> 00:07:54,320 Speaker 1: justice and then we take broader action to protect life. 145 00:07:54,640 --> 00:07:58,600 Speaker 1: State Attorney Eric Reinhardt says that the suspect, Robert Cremo, 146 00:07:58,960 --> 00:08:02,240 Speaker 1: if convicted of a would receive a mandatory life sentence 147 00:08:02,280 --> 00:08:05,800 Speaker 1: without the possibility of parole. New Jersey Governor Phil Murphy 148 00:08:05,840 --> 00:08:09,120 Speaker 1: signed a package of bills touted to increase gun safety 149 00:08:09,240 --> 00:08:11,800 Speaker 1: less than two weeks after the U. S. Supreme Court 150 00:08:11,920 --> 00:08:17,000 Speaker 1: weakened the state's ability to restrict carrying concealed firearms, Murphy 151 00:08:17,080 --> 00:08:20,400 Speaker 1: signed seven bills and promised more action. There are those 152 00:08:20,480 --> 00:08:23,920 Speaker 1: who take seriously the words of the satirical website The Onion, 153 00:08:24,480 --> 00:08:27,280 Speaker 1: and this was the headline, no way to prevent this, 154 00:08:27,640 --> 00:08:32,679 Speaker 1: says only nation where this regularly happens, And sadly it 155 00:08:32,800 --> 00:08:37,360 Speaker 1: appears six of these mistaken people sit on the Supreme 156 00:08:37,440 --> 00:08:40,760 Speaker 1: Court of the United States of America. Governor Murphy says 157 00:08:40,800 --> 00:08:44,640 Speaker 1: the new laws include mandatory training prior to a gun purchase, 158 00:08:45,000 --> 00:08:49,640 Speaker 1: tracking of ammunition sales, and micro stamping technology so bullets 159 00:08:49,679 --> 00:08:52,960 Speaker 1: can be traced to particular weapons. New York City Mayor 160 00:08:53,120 --> 00:08:56,520 Speaker 1: Eric Adams says drivers of vehicles caught with illegal fake 161 00:08:56,760 --> 00:09:00,240 Speaker 1: paper license plates will be towed and could pretend should 162 00:09:00,240 --> 00:09:03,480 Speaker 1: be auctioned off. Thor Adams says that they're cracking down 163 00:09:03,600 --> 00:09:07,120 Speaker 1: on ghost cars because we know the drivers of these 164 00:09:07,200 --> 00:09:09,800 Speaker 1: cars are quote up to no good. And I said 165 00:09:09,840 --> 00:09:12,439 Speaker 1: over and over again, there are many rivers that feed 166 00:09:12,600 --> 00:09:17,120 Speaker 1: the sea of violence, with damn in each river and 167 00:09:17,240 --> 00:09:20,640 Speaker 1: paper place. To some you'll say, well, what does that 168 00:09:20,800 --> 00:09:23,480 Speaker 1: have to do with damn in the River. It damns 169 00:09:23,520 --> 00:09:28,479 Speaker 1: the river of people using their vehicles for illegal behavior. 170 00:09:29,200 --> 00:09:32,200 Speaker 1: Mayor Adams says the law is coming after anyone who 171 00:09:32,280 --> 00:09:36,640 Speaker 1: tries to make their car untraceable. Rudy Giuliani, Senator Lindsey Graham, 172 00:09:36,720 --> 00:09:39,040 Speaker 1: and five others have been called to testify before a 173 00:09:39,120 --> 00:09:42,959 Speaker 1: special grand jury in Atlanta. According to court filings. It's 174 00:09:43,000 --> 00:09:46,760 Speaker 1: part of an investigation into alleged attempts by former President 175 00:09:46,800 --> 00:09:49,199 Speaker 1: Trump and his supporters to change the result of the 176 00:09:49,880 --> 00:09:53,160 Speaker 1: election in Georgia. Global News twenty four hours a day 177 00:09:53,280 --> 00:09:56,280 Speaker 1: on it Or and on Bloomberg Quicktake, powered by more 178 00:09:56,360 --> 00:09:58,839 Speaker 1: than twenty seven hundred journalists and analysts more than a 179 00:09:59,080 --> 00:10:02,400 Speaker 1: d twenty countries. Michael Barr and this is Bloomberg. John, 180 00:10:02,520 --> 00:10:08,760 Speaker 1: all right, Michael, thank you, And it's now six ten 181 00:10:09,480 --> 00:10:12,080 Speaker 1: Wall Street. That's time to the Bloomberg Sports Update. Here's 182 00:10:12,080 --> 00:10:15,679 Speaker 1: Scott Sedenburg. Thanks John. Max Scherzer returned from the I 183 00:10:15,920 --> 00:10:19,839 Speaker 1: L and was absolutely dominant. Season high eleven strikeouts and 184 00:10:20,000 --> 00:10:23,440 Speaker 1: six shutout and he's allowing just two hits and that's however, 185 00:10:23,520 --> 00:10:26,000 Speaker 1: could not muster up any offense. And the news in 186 00:10:26,080 --> 00:10:29,320 Speaker 1: the bottom of the ninth to the Reds wanted nothing here, 187 00:10:29,400 --> 00:10:33,959 Speaker 1: were sheerser on his outing m no issues whatsoever today 188 00:10:35,679 --> 00:10:37,719 Speaker 1: all the way through, and they were tightening up on me. 189 00:10:37,800 --> 00:10:40,840 Speaker 1: So that's that's good thing. David Peterson gets the start tonight. 190 00:10:41,160 --> 00:10:43,480 Speaker 1: The Yankees New Wild felt at the Pirates five to 191 00:10:43,760 --> 00:10:47,079 Speaker 1: Jamison Tyon's returned to Pittsburgh was spoiled early when he 192 00:10:47,160 --> 00:10:49,600 Speaker 1: allowed a Dan Vogel back home run in the second 193 00:10:49,679 --> 00:10:52,079 Speaker 1: and then a two run shot the rookie Jackson Winsky 194 00:10:52,200 --> 00:10:54,920 Speaker 1: in the fourth. It was the first loss for Tayland 195 00:10:55,040 --> 00:10:58,679 Speaker 1: since April eleven. The Yankees losing back to back games 196 00:10:58,760 --> 00:11:02,160 Speaker 1: for just the fifth time this season, will be SEVENO 197 00:11:02,600 --> 00:11:06,080 Speaker 1: will start tonight. Tennis at Wimill didn't. Novak Djokovic rally 198 00:11:06,120 --> 00:11:08,680 Speaker 1: from two sets down to defeat Yonic Center and advanced 199 00:11:08,679 --> 00:11:11,680 Speaker 1: to the semi finals. Wrapping on the Dall Bass American 200 00:11:11,720 --> 00:11:15,439 Speaker 1: Tailor Frits in today's quarter final. I'm Scott Seginberg with 201 00:11:15,520 --> 00:11:19,719 Speaker 1: Bloomberg Sports. John all right, thanks Scott, and ahead of 202 00:11:19,760 --> 00:11:23,199 Speaker 1: the cash Open on Wall Street. Futures right now pretty 203 00:11:23,280 --> 00:11:27,199 Speaker 1: much unchanged. DAL futures just four points lower, SMPE many 204 00:11:27,280 --> 00:11:31,040 Speaker 1: futures down the point. The Nasdack futures they are seven 205 00:11:31,120 --> 00:11:34,160 Speaker 1: points lower. With all the turmoil happening in the UK 206 00:11:34,440 --> 00:11:37,640 Speaker 1: on the political front, Pound sterling down about a tenth 207 00:11:37,679 --> 00:11:40,960 Speaker 1: of a percent at one nineteen thirty two. And as 208 00:11:41,000 --> 00:11:44,400 Speaker 1: we look at treasuries right now, there is this inversion 209 00:11:44,720 --> 00:11:47,800 Speaker 1: in the twos and tens, the two year above the 210 00:11:47,880 --> 00:11:50,400 Speaker 1: ten year right now to eighty four the tenure yield 211 00:11:50,800 --> 00:11:55,160 Speaker 1: at two point eight one percent. And as we look 212 00:11:55,240 --> 00:11:59,600 Speaker 1: at Komas Gold that is at seventeen sixty ounce down 213 00:11:59,720 --> 00:12:07,560 Speaker 1: three dollars. You're listening to Bloomberg dbread Bloomberg Weather from 214 00:12:07,600 --> 00:12:11,760 Speaker 1: Gary Bess. Sunshine today to ninety tonight, increasing cloud slow 215 00:12:11,800 --> 00:12:14,880 Speaker 1: about seventy Tomorrow's ammock most Lake cloudy, could see some 216 00:12:14,960 --> 00:12:23,079 Speaker 1: showers in the afternoon, behid tomorrow to eight markets headlines 217 00:12:23,160 --> 00:12:26,120 Speaker 1: and breaking news twenty four hours a day at Bloomberg 218 00:12:26,200 --> 00:12:29,600 Speaker 1: dot Com, the Bloomberg Business at and at Bloomberg Quicktape. 219 00:12:29,800 --> 00:12:38,760 Speaker 1: This is a Bloomberg Business Flash and I'm Karen Moscow. 220 00:12:38,840 --> 00:12:41,319 Speaker 1: This update brought to you by Informatica and the cloud 221 00:12:41,320 --> 00:12:43,480 Speaker 1: of your data has the power to do the extraordinary. 222 00:12:43,559 --> 00:12:46,320 Speaker 1: Managed data across any location in the cloud for accurate 223 00:12:46,360 --> 00:12:50,760 Speaker 1: and actionable insights. More at Informatica dot com US dot 224 00:12:50,800 --> 00:12:53,319 Speaker 1: indise futures are a little change this morning. I'm a 225 00:12:53,400 --> 00:12:56,840 Speaker 1: concern over a global economic slowdown. Who checked the markets 226 00:12:56,880 --> 00:13:00,280 Speaker 1: every fifteen minutes throughout the trading day on Bloomberg Right now, 227 00:13:00,400 --> 00:13:02,840 Speaker 1: the jacks in Germany is higher up one point four percent. 228 00:13:03,000 --> 00:13:05,520 Speaker 1: Ten year Treasury down three thirty seconds, yield two point 229 00:13:05,600 --> 00:13:07,840 Speaker 1: eight one percent, yield on the two year two point 230 00:13:07,880 --> 00:13:10,599 Speaker 1: eight four percent. Ninemex scrude oil is up tenth of 231 00:13:10,640 --> 00:13:13,319 Speaker 1: upper cent or fourteen cents, and ninety nine sixty four 232 00:13:13,400 --> 00:13:15,920 Speaker 1: cents of barrel co make school down to ten percent 233 00:13:16,040 --> 00:13:18,800 Speaker 1: or three dollars ten cents at seventeen sixty eight announce 234 00:13:19,200 --> 00:13:21,960 Speaker 1: The Euro one point two two zero against the dollar, 235 00:13:22,040 --> 00:13:25,400 Speaker 1: British pound one point one seven, and the one thirty 236 00:13:25,480 --> 00:13:28,480 Speaker 1: five point three three bitcoin is lower down one point 237 00:13:28,559 --> 00:13:32,079 Speaker 1: six percent at twenty thousand, one hundred nine dollars. And 238 00:13:32,400 --> 00:13:35,160 Speaker 1: that's a Bloomberg business flashdown. Here's Michael bar with more 239 00:13:35,240 --> 00:13:37,760 Speaker 1: on what's going on around the world. Michael Karen, thank 240 00:13:37,800 --> 00:13:40,120 Speaker 1: you very much. At least seven people are now dead 241 00:13:40,200 --> 00:13:43,240 Speaker 1: after Monday's match shooting at the Chicago area of Fourth 242 00:13:43,280 --> 00:13:47,400 Speaker 1: of July Parade, with over two dozen others hospitalized. The 243 00:13:47,520 --> 00:13:51,480 Speaker 1: suspect now faces seven charges of first degree murder. Former 244 00:13:51,520 --> 00:13:55,040 Speaker 1: Trump attorney Rudy Giuliani, Senator Lindsey Graham, and five others 245 00:13:55,320 --> 00:13:58,160 Speaker 1: have been called to testify before a special grand jury 246 00:13:58,200 --> 00:14:01,520 Speaker 1: in Atlanta. It is part of an investigation into alleged 247 00:14:01,559 --> 00:14:05,199 Speaker 1: attempts by former President Donald Trump and his supporters to 248 00:14:05,440 --> 00:14:09,800 Speaker 1: change the results of the election in Georgia. In baseball, 249 00:14:09,880 --> 00:14:12,719 Speaker 1: the Yankees and Mets lost. The Nationals, Red Sox and 250 00:14:12,840 --> 00:14:16,920 Speaker 1: Giants also lost. The Orioles and A's one Global News 251 00:14:17,000 --> 00:14:20,280 Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake, 252 00:14:20,560 --> 00:14:23,240 Speaker 1: powered by more than twenty seven under journalists, and then 253 00:14:23,400 --> 00:14:26,120 Speaker 1: list to more than twenty countries. I'm Michael Barr and 254 00:14:26,200 --> 00:14:29,560 Speaker 1: this is Bloomberg John Michael, thank you. It is six 255 00:14:29,720 --> 00:14:31,640 Speaker 1: nineteen out of Wall Street. We are live from the 256 00:14:31,640 --> 00:14:36,840 Speaker 1: Bloomberg Interrantbroker Studios. This is Bloomberg day Break. Boris Johnson 257 00:14:36,880 --> 00:14:40,440 Speaker 1: appears to be hanging by a thread this morning after 258 00:14:40,480 --> 00:14:43,920 Speaker 1: the British Prime Minister suffered several high profile resignations in 259 00:14:44,000 --> 00:14:47,920 Speaker 1: his government, and Bloomberg's Lizzie Burden is outside number ten 260 00:14:48,000 --> 00:14:51,880 Speaker 1: Downing Street, this morning with the tails Lizzie Yes, john 261 00:14:51,960 --> 00:14:54,600 Speaker 1: on the cover of the u K new tapers this morning. 262 00:14:55,160 --> 00:14:57,880 Speaker 1: You've got them just describing his situation is on the 263 00:14:57,960 --> 00:15:01,960 Speaker 1: brink and another refers to him as de greased piglet 264 00:15:02,120 --> 00:15:06,520 Speaker 1: remember that Monika, that he manages to vide these situations, 265 00:15:06,880 --> 00:15:10,640 Speaker 1: but the historically put his predecessors, putting his predecessors, and 266 00:15:10,680 --> 00:15:13,320 Speaker 1: there's so much pressure that they resigned. Well, it doesn't 267 00:15:13,360 --> 00:15:16,760 Speaker 1: look likely that he will do that. Last night his 268 00:15:17,360 --> 00:15:20,280 Speaker 1: Health Secretary Sager Javid, who was also a former Chancellor, 269 00:15:20,600 --> 00:15:24,480 Speaker 1: and the Chancellor Rishie Cunach quit. They said they couldn't 270 00:15:24,640 --> 00:15:28,480 Speaker 1: handle having to stand up in public and defend his 271 00:15:29,520 --> 00:15:33,200 Speaker 1: handling of the Chris Pincher affair. This MP, who was 272 00:15:33,280 --> 00:15:37,480 Speaker 1: alleged to have been involved in sexual misconduct but was 273 00:15:37,560 --> 00:15:41,960 Speaker 1: then rehired into the government as Deputy Chief Whip. Both 274 00:15:42,040 --> 00:15:46,720 Speaker 1: of their resignation letters going hard with the venomous language 275 00:15:47,400 --> 00:15:52,000 Speaker 1: about Johnson's integrity. And yet overnight we've had even more 276 00:15:52,400 --> 00:15:56,600 Speaker 1: junior resignation nations, even into the past few minutes. So 277 00:15:57,040 --> 00:16:00,480 Speaker 1: our reporter Alex Wickham is this morning rob wating that 278 00:16:00,880 --> 00:16:04,320 Speaker 1: Johnson's on regular for signs of a coordinated clot from 279 00:16:04,440 --> 00:16:07,160 Speaker 1: his ministers to bring him down, because if six or 280 00:16:07,280 --> 00:16:09,760 Speaker 1: eight of the cabinet quit, it would leave him struggling 281 00:16:09,800 --> 00:16:14,880 Speaker 1: even to form a cabinet. The resignations, are they an 282 00:16:14,960 --> 00:16:19,200 Speaker 1: act of conscience or are these people after his job? 283 00:16:21,000 --> 00:16:27,560 Speaker 1: Well basis started. David and Richie Senac have I thought 284 00:16:27,600 --> 00:16:31,320 Speaker 1: to have leadership ambitions chi David has stood before, and 285 00:16:31,400 --> 00:16:33,280 Speaker 1: they're going to be even more dangerous. If they're on 286 00:16:33,320 --> 00:16:36,440 Speaker 1: the back benches, they'll be able to more easily organize 287 00:16:36,680 --> 00:16:40,600 Speaker 1: other MPs around them. Richie Senac, in his resignation letter, 288 00:16:40,720 --> 00:16:44,600 Speaker 1: said that he accepted this maybe his last ministerial position, 289 00:16:45,440 --> 00:16:48,480 Speaker 1: but you know, well perhaps he'll have a position in 290 00:16:48,600 --> 00:16:52,360 Speaker 1: his own government. Who knows. But it wasn't all about 291 00:16:52,880 --> 00:16:58,360 Speaker 1: this Pestminster as it's called scandal for Richie Sunac. It 292 00:16:58,560 --> 00:17:03,040 Speaker 1: was also about Johnson's handling of the post COVID economic recovery. 293 00:17:04,000 --> 00:17:07,520 Speaker 1: He has said that he had to take difficult decisions. 294 00:17:07,760 --> 00:17:10,280 Speaker 1: If something is too good to be true, it probably is. 295 00:17:10,560 --> 00:17:14,399 Speaker 1: He said his approach was fundamentally different from Johnson on 296 00:17:14,560 --> 00:17:17,920 Speaker 1: the economy, so clearly he couldn't get on board with 297 00:17:18,000 --> 00:17:22,439 Speaker 1: the fiscal boosterism that Johnson. Johnson wanted of him explain 298 00:17:22,520 --> 00:17:24,960 Speaker 1: to us what the Prime Minister faces now with the 299 00:17:25,200 --> 00:17:28,240 Speaker 1: there's a que and where there's a question session in Parliament, 300 00:17:28,600 --> 00:17:33,640 Speaker 1: and explain to us also what the Liaison Committee is. Yes, 301 00:17:33,760 --> 00:17:36,560 Speaker 1: so first of all, we'll have Prime Minister's Questions weekly 302 00:17:36,640 --> 00:17:40,640 Speaker 1: session where Johnson's first of all grilled by the Leader 303 00:17:40,680 --> 00:17:44,600 Speaker 1: of the Opposition, Keir Starmer, and then other MPs in 304 00:17:44,640 --> 00:17:48,359 Speaker 1: the chamber. But in previous week's Keir Starmer seems to 305 00:17:48,440 --> 00:17:50,840 Speaker 1: have missed an open goal, so because too much on 306 00:17:51,000 --> 00:17:57,160 Speaker 1: policy rather than personality when Boris Johnson's been at his weakest, 307 00:17:57,760 --> 00:18:02,040 Speaker 1: then Johnson's paces more question students from the Liaison Committee. 308 00:18:02,200 --> 00:18:05,920 Speaker 1: That's the heads of all the parliamentary select committees. So 309 00:18:06,119 --> 00:18:08,359 Speaker 1: he'll be getting questions from all different angles and it 310 00:18:08,400 --> 00:18:11,520 Speaker 1: will be a very tough crowd to please. Bloomberg's Lizzie 311 00:18:11,560 --> 00:18:14,359 Speaker 1: Burden outside Number ten, Downing Street, covering the latest on 312 00:18:14,400 --> 00:18:18,080 Speaker 1: Boris Johnson's government in turmoil. Lizzie, thanks a lot. We're 313 00:18:18,080 --> 00:18:20,359 Speaker 1: gonna continue to update the story as it develops throughout 314 00:18:20,359 --> 00:18:23,400 Speaker 1: the day right here on Bloomberg Radio. So now let's 315 00:18:23,440 --> 00:18:26,360 Speaker 1: turn to the markets, where concern continues to swirl over 316 00:18:26,920 --> 00:18:31,680 Speaker 1: a possible global economic slow down. Also get Fed minutes today, 317 00:18:31,760 --> 00:18:33,640 Speaker 1: let's get you set up for the trading day head 318 00:18:33,680 --> 00:18:38,320 Speaker 1: now joining us Lizzie Saunders, chief investment strategist at Charles Schwab. 319 00:18:38,720 --> 00:18:41,560 Speaker 1: What a pleasure. Um, we do this as let's see 320 00:18:41,640 --> 00:18:46,720 Speaker 1: nimex Crude Lauzanne below one the two years and the 321 00:18:46,800 --> 00:18:50,640 Speaker 1: ten year treasuries inverted to eighty three to eighty one. 322 00:18:51,400 --> 00:18:54,640 Speaker 1: So the question to you inflation taking a back seat 323 00:18:54,680 --> 00:18:57,600 Speaker 1: now to recession fears and markets, Well, I think it's 324 00:18:57,640 --> 00:19:01,640 Speaker 1: a combination, and regardless of where there is, ultimately will 325 00:19:01,760 --> 00:19:04,320 Speaker 1: be declared an official recession. I mean, the growth slow 326 00:19:04,359 --> 00:19:07,800 Speaker 1: down is very obvious, so I'm not sure that semantics 327 00:19:07,880 --> 00:19:10,760 Speaker 1: around what we call this matters all that much. And 328 00:19:10,880 --> 00:19:14,040 Speaker 1: I do think that whether it's specifically the reason for 329 00:19:14,200 --> 00:19:18,560 Speaker 1: the reversal yesterday, the idea that slower growth is one 330 00:19:18,600 --> 00:19:21,720 Speaker 1: of the best sort of cures for the inflation problems. 331 00:19:21,800 --> 00:19:25,920 Speaker 1: So this notion that a recession or a slowdown is 332 00:19:26,560 --> 00:19:29,440 Speaker 1: kind of a feature, uh, not a bug, of what 333 00:19:30,440 --> 00:19:33,280 Speaker 1: the FED is trying to accomplish here with bringing demand 334 00:19:33,359 --> 00:19:35,440 Speaker 1: down and in turn inflation down. And you're seeing it 335 00:19:35,440 --> 00:19:38,200 Speaker 1: in a lot of the of the forward looking data, 336 00:19:38,600 --> 00:19:41,760 Speaker 1: So does the trajectory for the policy makers does that 337 00:19:41,920 --> 00:19:46,960 Speaker 1: now change? So that that's that's an interesting question. So 338 00:19:47,400 --> 00:19:51,040 Speaker 1: you know, embedded and Expectations is still a seventy five 339 00:19:51,080 --> 00:19:54,240 Speaker 1: basis point hike this month, But I wouldn't be surprised 340 00:19:54,320 --> 00:19:57,359 Speaker 1: if maybe there was more softening of the language for 341 00:19:57,440 --> 00:20:02,080 Speaker 1: the outlook into the September meeting, assuming we don't see 342 00:20:02,560 --> 00:20:06,040 Speaker 1: a pickup and growth um So it does look like 343 00:20:06,160 --> 00:20:09,879 Speaker 1: SEV is still on the table for July, but maybe 344 00:20:10,080 --> 00:20:13,520 Speaker 1: some of the aggressive assumptions into September and the remainder 345 00:20:13,640 --> 00:20:15,760 Speaker 1: of the year start to be tempered by ritual the 346 00:20:15,840 --> 00:20:18,239 Speaker 1: slowdown we're in the midst of. I know I can 347 00:20:18,280 --> 00:20:22,240 Speaker 1: split here is on definitions, but and discover undervalued companies 348 00:20:22,320 --> 00:20:25,040 Speaker 1: that may have greater growth potential. Try ib k R 349 00:20:25,080 --> 00:20:27,960 Speaker 1: Global Analyst today, Yet I b k R dot com 350 00:20:28,080 --> 00:20:32,000 Speaker 1: slash g A. First, we turned back to British Prime 351 00:20:32,040 --> 00:20:36,040 Speaker 1: Minister Boris Johnson and his political future hanging by us thread. 352 00:20:36,240 --> 00:20:39,560 Speaker 1: Bloomberg's Lizzie Burden joins us and once again from outside 353 00:20:39,600 --> 00:20:43,399 Speaker 1: ten Downing Street, Boris Johnson is hanging by a thread. Hit. 354 00:20:43,880 --> 00:20:48,280 Speaker 1: It started off with that surprise Stone public apology his 355 00:20:48,400 --> 00:20:51,119 Speaker 1: handling of the Chris Pincher affair, but it was followed 356 00:20:51,200 --> 00:20:54,840 Speaker 1: quickly by the resignation of his Health Secretary Saja Javit 357 00:20:55,000 --> 00:20:58,159 Speaker 1: and then his Chancellor Rishi Sunach. Then it was followed 358 00:20:58,200 --> 00:21:00,439 Speaker 1: by the resignation of the Attorney General and a string 359 00:21:00,560 --> 00:21:03,600 Speaker 1: of junior ministers, suggesting perhaps that the tide has now 360 00:21:03,760 --> 00:21:07,960 Speaker 1: turned on Boris Johnson and Bloomberg's Lizzie Burden says Johnson 361 00:21:08,000 --> 00:21:10,480 Speaker 1: will face questions in the House that Commons today and 362 00:21:10,560 --> 00:21:14,159 Speaker 1: also appear before a Parliamentary committee and bank here At 363 00:21:14,160 --> 00:21:16,800 Speaker 1: the US futures, coming off of late day rally, the 364 00:21:17,000 --> 00:21:19,479 Speaker 1: SMP five hundred was down more than two percent at 365 00:21:19,520 --> 00:21:23,240 Speaker 1: one point yesterday before ending the day higher. Sylvia Jablonsky 366 00:21:23,440 --> 00:21:26,920 Speaker 1: is chief investment officer at Definance CTMs and says markets 367 00:21:27,160 --> 00:21:30,000 Speaker 1: already are pricing in a recession. The market has done 368 00:21:30,000 --> 00:21:32,000 Speaker 1: a lot of work, and if you think about recessions 369 00:21:32,080 --> 00:21:34,560 Speaker 1: to come, a lot of that is froth taken off 370 00:21:34,640 --> 00:21:36,879 Speaker 1: the market before we sort of hit that point. So 371 00:21:36,960 --> 00:21:39,280 Speaker 1: I do think that we're seeing sort of hope that 372 00:21:39,359 --> 00:21:41,639 Speaker 1: we're nearing some bottoms here. That doesn't mean that We 373 00:21:41,680 --> 00:21:43,720 Speaker 1: can't go lower a little bit, but I think we're 374 00:21:43,760 --> 00:21:47,520 Speaker 1: more than halfway there. Sylvia Jablonsky Definance CTM says markets 375 00:21:47,720 --> 00:21:49,760 Speaker 1: have done a lot of the Fed's work and rate 376 00:21:49,840 --> 00:21:54,359 Speaker 1: hikes could become less aggressive from here. Well. Turning to oil, John, 377 00:21:54,400 --> 00:21:57,840 Speaker 1: it's recovering some of yesterday's eight percent sell off right now. 378 00:21:58,040 --> 00:22:00,280 Speaker 1: Crude is higher and I'm next screw it up for 379 00:22:00,359 --> 00:22:03,159 Speaker 1: a ten percent and ninety nine doo cents a barrel, 380 00:22:03,480 --> 00:22:05,560 Speaker 1: and Brent up one point one percent at a hundred 381 00:22:05,600 --> 00:22:08,240 Speaker 1: three dollars ninety four cents and a sad note to 382 00:22:08,280 --> 00:22:11,600 Speaker 1: pass along. Mohammed Barkendo, the Secretary General of OPEC, has 383 00:22:11,680 --> 00:22:14,719 Speaker 1: died in his native country of Nigeria. He was sixty. 384 00:22:15,200 --> 00:22:17,520 Speaker 1: And now the corporate news where Amazon is on the 385 00:22:17,760 --> 00:22:21,119 Speaker 1: acquisition trail this morning and Bloomberg's re need a young 386 00:22:21,200 --> 00:22:23,280 Speaker 1: Joints is live with more We need a good morning, 387 00:22:23,359 --> 00:22:26,240 Speaker 1: Good morning John. Amazon will get options for a two 388 00:22:26,320 --> 00:22:31,240 Speaker 1: percent steaking group up and could increase that holding to Amazon. 389 00:22:31,359 --> 00:22:33,800 Speaker 1: Steak will be in the form of warrants they'll vest 390 00:22:33,960 --> 00:22:36,880 Speaker 1: depending on how well the partnership performs and how many 391 00:22:36,960 --> 00:22:39,960 Speaker 1: new customers come as a result. The deal also gives 392 00:22:40,000 --> 00:22:43,159 Speaker 1: Amazon Prime members in the US access to grub ub 393 00:22:43,200 --> 00:22:47,040 Speaker 1: for one year. Shares for parent company just Eat rows 394 00:22:47,240 --> 00:22:51,040 Speaker 1: as much as sixtent in Amsterdam today, the stocks falling 395 00:22:51,119 --> 00:22:54,680 Speaker 1: close to seventy percent this year. Live in New York, 396 00:22:54,760 --> 00:22:57,040 Speaker 1: I'm really need a young Bloomberg day break. I really 397 00:22:57,080 --> 00:22:58,600 Speaker 1: need to thank you. That's the five things that you 398 00:22:58,720 --> 00:23:00,840 Speaker 1: need to notice. Start here day brought to you by 399 00:23:01,040 --> 00:23:05,720 Speaker 1: Interactive Brokers and Futures. This morning they have been fluctuating. 400 00:23:05,880 --> 00:23:09,080 Speaker 1: SMP futures are now higher, up about four points. Now 401 00:23:09,240 --> 00:23:12,200 Speaker 1: futures also higher, up thirty six and as day Future 402 00:23:12,280 --> 00:23:14,960 Speaker 1: is up ten. The docks in Germany is up one 403 00:23:15,000 --> 00:23:18,399 Speaker 1: point seven percent. Ten year treasury down four thirty seconds 404 00:23:18,920 --> 00:23:21,400 Speaker 1: two point two percent. They yield on the two year 405 00:23:21,480 --> 00:23:24,919 Speaker 1: two point eight four percent. NIMEX screwed oil again up 406 00:23:24,960 --> 00:23:28,480 Speaker 1: four ten percent at ninety ninety cents. A barrel and 407 00:23:28,760 --> 00:23:32,160 Speaker 1: a straight ahead your latest local headlines plus a check 408 00:23:32,240 --> 00:23:40,080 Speaker 1: of sports. This is Bloomberg. Thanks Karen six thirty three 409 00:23:40,240 --> 00:23:42,880 Speaker 1: on Wolfsbury. Time to bring in Michael barn and tell 410 00:23:43,000 --> 00:23:45,000 Speaker 1: us what else is going on to New York hand 411 00:23:45,440 --> 00:23:47,480 Speaker 1: around the world. Yeah, and thank you very much. They're 412 00:23:47,520 --> 00:23:50,480 Speaker 1: the man accused of opening fire and an Independence Day 413 00:23:50,520 --> 00:23:54,479 Speaker 1: parade in suburban Chicago is charged now with seven counts 414 00:23:54,560 --> 00:23:58,760 Speaker 1: of murder. Lake County State's Attorney Eric Reinhardt says that 415 00:23:59,000 --> 00:24:02,399 Speaker 1: Robert Crimo could receive a mandatory life sentence without the 416 00:24:02,440 --> 00:24:07,440 Speaker 1: possibility of parole. We anticipate dozens of more charges centering 417 00:24:07,520 --> 00:24:13,760 Speaker 1: around each of the victims, psychological victims, physical victims, attempts, 418 00:24:13,840 --> 00:24:19,320 Speaker 1: murder charges, aggravated discharge charges, aggravated battery charges. State Attorney 419 00:24:19,400 --> 00:24:23,440 Speaker 1: Reinhardt says that Creamo allegedly sprayed more than seventy rounds 420 00:24:23,480 --> 00:24:26,520 Speaker 1: from a rooftop into a crowd in Highland Park. New 421 00:24:26,600 --> 00:24:29,520 Speaker 1: Jersey Governor Phil Murphy signed a package of bills touted 422 00:24:29,640 --> 00:24:33,360 Speaker 1: to increase gun safety. Murphy signed seven bills and promised 423 00:24:33,400 --> 00:24:36,440 Speaker 1: more action. We believe, or I should say no, We 424 00:24:36,640 --> 00:24:39,720 Speaker 1: know that we could take on the epidemic of gun 425 00:24:39,840 --> 00:24:43,920 Speaker 1: violence and win. The new laws include mandatory training prior 426 00:24:44,040 --> 00:24:48,800 Speaker 1: to gun purchases, and, according to Governor Murphy, tracking emmal snials. 427 00:24:49,240 --> 00:24:52,640 Speaker 1: New York City officials have announced plans to track down 428 00:24:52,800 --> 00:24:56,880 Speaker 1: on so called ghost cars. The New York Mayor Eric 429 00:24:56,920 --> 00:25:01,520 Speaker 1: Adam says that their vehicles with illegal face paper license plates. 430 00:25:02,160 --> 00:25:05,840 Speaker 1: When you see people using these paper plates, many times 431 00:25:06,119 --> 00:25:09,960 Speaker 1: they are doing something illegal. Mayor Adams says the cars 432 00:25:10,000 --> 00:25:13,480 Speaker 1: would be towed and could potentially be auctioned off. Construction 433 00:25:13,840 --> 00:25:17,280 Speaker 1: of a New Hudson River rail tunnel connecting New York 434 00:25:17,359 --> 00:25:20,320 Speaker 1: City and New Jersey took another step forward in the 435 00:25:20,400 --> 00:25:23,720 Speaker 1: planning phase. Both New York Governor Kathy Hokel and New 436 00:25:23,800 --> 00:25:28,440 Speaker 1: Jersey Governor Murphy announced memorandum of understanding with the Port 437 00:25:28,480 --> 00:25:31,879 Speaker 1: Authority on financing terms for the twelve point three billion 438 00:25:31,920 --> 00:25:35,560 Speaker 1: dollar Gateway tunnel and the one point six billion dollar 439 00:25:35,640 --> 00:25:39,400 Speaker 1: Portal Bridge replacement. Seven Trump allies have now been scipoena 440 00:25:39,480 --> 00:25:43,239 Speaker 1: and the Georgia Criminal Investigation of election interference. Bloomberg's Sad 441 00:25:43,280 --> 00:25:47,120 Speaker 1: Baxter reports these are grand jury summons and the names 442 00:25:47,160 --> 00:25:50,680 Speaker 1: include Rudy Juliani, Lindsey Graham, and John Eastman. The move 443 00:25:50,800 --> 00:25:53,760 Speaker 1: underscores the breadth of the investigation being conducted by the 444 00:25:53,840 --> 00:25:57,200 Speaker 1: District Attorney of Fulton County, which is a suburb of Atlanta. 445 00:25:57,600 --> 00:26:01,920 Speaker 1: She's weighing a range of charges, including racketeering and conspiracy. 446 00:26:02,480 --> 00:26:05,159 Speaker 1: This is the closest a criminal investigation has gotten to 447 00:26:05,200 --> 00:26:09,080 Speaker 1: Trump's inner circle. Now, the sapoenas do not automatically mean 448 00:26:09,200 --> 00:26:13,280 Speaker 1: that those involved are a target of any investigation. In 449 00:26:13,440 --> 00:26:16,720 Speaker 1: San Francisco, I'm at Baxter Bloomberg Daybreak Global News twenty 450 00:26:16,760 --> 00:26:19,840 Speaker 1: four hours a day on air and on Bloomberg Quickday, 451 00:26:19,880 --> 00:26:22,399 Speaker 1: powered by more than twenty seven hundred journalists analysts more 452 00:26:22,400 --> 00:26:26,399 Speaker 1: than a hundred twenty countries. Michael bar this is Bloomberg, John, Michael, 453 00:26:26,440 --> 00:26:32,200 Speaker 1: thank you, And it's now six thirty six on Wall Street. 454 00:26:32,320 --> 00:26:35,719 Speaker 1: That's time for the Bloomberg Sports Update. Here's Scott Seidenberg. 455 00:26:36,480 --> 00:26:39,240 Speaker 1: Good morning, John. For just a fifth time this season, 456 00:26:39,359 --> 00:26:42,639 Speaker 1: the Yankees have lost consecutive games, falling to the Pirates 457 00:26:42,680 --> 00:26:46,760 Speaker 1: in Pittsburgh last night five to two, spoiling Jamison Tyne's 458 00:26:46,800 --> 00:26:50,840 Speaker 1: return to his former team. Toyon allowed five runs on 459 00:26:51,000 --> 00:26:53,600 Speaker 1: six hits in five and a third innings, picking up 460 00:26:53,680 --> 00:26:57,720 Speaker 1: his first loss since April eleven. Here was Aaron Judge 461 00:26:57,760 --> 00:26:59,680 Speaker 1: after the game. And now they made it a couple 462 00:26:59,720 --> 00:27:02,720 Speaker 1: of times in double plays. Um, you couldn't really get 463 00:27:02,760 --> 00:27:05,200 Speaker 1: that big hit to kind of get the moment. I'm 464 00:27:05,200 --> 00:27:06,760 Speaker 1: going on our side. They kind of get there wrong. 465 00:27:06,920 --> 00:27:08,879 Speaker 1: You know. They started off with a couple of um 466 00:27:08,960 --> 00:27:10,680 Speaker 1: home runs gonna kind of put us in a deficit, 467 00:27:10,800 --> 00:27:13,240 Speaker 1: but you know, like we've done before, We're worried about 468 00:27:13,280 --> 00:27:16,080 Speaker 1: that and thought we'd come back, but um, they're the 469 00:27:16,080 --> 00:27:18,480 Speaker 1: hold to stand there always till then. Luis Severino will 470 00:27:18,520 --> 00:27:21,600 Speaker 1: get the start tonight. Max Scherzer returned from the i 471 00:27:21,840 --> 00:27:24,480 Speaker 1: L last night. He struck out of season high eleven 472 00:27:24,760 --> 00:27:28,119 Speaker 1: in six shutout innings, allowing just two hits, but the 473 00:27:28,160 --> 00:27:30,359 Speaker 1: Mets would fall to the Reds one nothing in the 474 00:27:30,440 --> 00:27:34,040 Speaker 1: bottom of the ninth inning. David Peterson gets the start tonight. 475 00:27:34,440 --> 00:27:36,840 Speaker 1: Tennant said Wimble didn't know vak Djokovic routing from two 476 00:27:36,880 --> 00:27:39,280 Speaker 1: sets down to defeat Yonick Center and advanced to the 477 00:27:39,400 --> 00:27:42,800 Speaker 1: semi finals. Rapping on the doubt faces American Taylor Fritz 478 00:27:42,840 --> 00:27:48,520 Speaker 1: in today's quarterfinal. I'm Scott Zeidenberg with Bloomberg Sports. John Well, 479 00:27:48,560 --> 00:27:51,640 Speaker 1: thank you, Scott. It is six thirty seven on Wall Street. 480 00:27:51,640 --> 00:27:53,480 Speaker 1: Time to take a look at stocks and some of 481 00:27:53,520 --> 00:27:55,800 Speaker 1: the names that are moving in the pre market for them. 482 00:27:55,880 --> 00:27:58,760 Speaker 1: We're joined by Bloomberg Radio and TV Markets. Corresponded critic 483 00:27:58,800 --> 00:28:01,399 Speaker 1: group to a lot of chip stocks. Is this uh 484 00:28:02,080 --> 00:28:05,280 Speaker 1: China story or you know it's sort of a China story. 485 00:28:05,600 --> 00:28:07,320 Speaker 1: You know. I have to say my job is incredibly 486 00:28:07,359 --> 00:28:10,240 Speaker 1: hard today because features are literally flat. There isn't a 487 00:28:10,320 --> 00:28:12,359 Speaker 1: ton going on in the markets. UM. It kind of 488 00:28:12,400 --> 00:28:16,040 Speaker 1: feels like everyone either has it out for me rise 489 00:28:16,119 --> 00:28:19,040 Speaker 1: to the occasion. I'll try, I'll try. And I think 490 00:28:19,119 --> 00:28:21,199 Speaker 1: chips is the best place to go here because you did, 491 00:28:21,280 --> 00:28:23,639 Speaker 1: of course have that Bloomberg story yesterday. The US is 492 00:28:23,680 --> 00:28:26,119 Speaker 1: pushing the Netherlands savan a s mL. This is a 493 00:28:26,240 --> 00:28:29,719 Speaker 1: Dutch semi conductor equipment maker from selling some of those 494 00:28:29,800 --> 00:28:32,200 Speaker 1: chip making tools to China. And now some context here. 495 00:28:32,880 --> 00:28:35,520 Speaker 1: A s mL is a company that, like I said, 496 00:28:35,520 --> 00:28:38,800 Speaker 1: it makes semi conductor making equipment, kind of like Deer 497 00:28:38,880 --> 00:28:44,880 Speaker 1: for example, makes farming equipment for UM chips and their tractors. 498 00:28:44,960 --> 00:28:47,240 Speaker 1: By the way they do, they do that's a little 499 00:28:47,280 --> 00:28:49,800 Speaker 1: fun fun tied. But but the takeaway here is that 500 00:28:49,880 --> 00:28:54,080 Speaker 1: their technology is very crucial. It's been very it's very 501 00:28:54,080 --> 00:28:56,239 Speaker 1: advanced technology. It's been in the eyesights of a lot 502 00:28:56,320 --> 00:28:58,959 Speaker 1: of other major chip giants, and Video for example, has 503 00:28:59,040 --> 00:29:03,000 Speaker 1: long talked about actually perhaps targeting or purchasing that technology. 504 00:29:03,040 --> 00:29:06,720 Speaker 1: Tie one semiconductor manufacturing company t SMC where the majority 505 00:29:06,760 --> 00:29:09,080 Speaker 1: of the world's chips are made. Anyway, UM has also 506 00:29:09,200 --> 00:29:13,000 Speaker 1: talked about that technology the US is pushing the Netherlands. 507 00:29:13,080 --> 00:29:15,360 Speaker 1: Remember this is a Dutch company to ban a s 508 00:29:15,440 --> 00:29:17,520 Speaker 1: m L from selling some of those tools to China. 509 00:29:17,600 --> 00:29:19,440 Speaker 1: So this is a chip story. But once again, here's 510 00:29:19,480 --> 00:29:22,200 Speaker 1: what it does. It makes those chip makers even more 511 00:29:22,280 --> 00:29:25,000 Speaker 1: attractive in some ways, because the idea here being that 512 00:29:25,040 --> 00:29:27,320 Speaker 1: if you can't get your hands on that technology, especially 513 00:29:27,360 --> 00:29:28,960 Speaker 1: in a part of the world where most of the 514 00:29:29,080 --> 00:29:31,440 Speaker 1: chips are made, that's going to be a big deal. 515 00:29:31,560 --> 00:29:33,600 Speaker 1: So actually you did see some of those stocks higher 516 00:29:33,640 --> 00:29:35,480 Speaker 1: in the pre market, and then you look at some 517 00:29:35,520 --> 00:29:38,600 Speaker 1: of these other chip equipment makers that are competing, for example, 518 00:29:38,640 --> 00:29:41,040 Speaker 1: Applied Materials, which competes with a s m L, A 519 00:29:41,280 --> 00:29:43,880 Speaker 1: M A T, it's down three point seven percent. You 520 00:29:43,960 --> 00:29:46,400 Speaker 1: have a similar story when it comes to the life 521 00:29:46,440 --> 00:29:48,680 Speaker 1: of advanced micro devices. Remember A m D and n 522 00:29:48,800 --> 00:29:52,240 Speaker 1: video do actually UM compete very closely. So when you 523 00:29:52,360 --> 00:29:54,080 Speaker 1: have in video trying to get that technology, m D 524 00:29:54,200 --> 00:29:56,640 Speaker 1: is going to be slightly under pressure, down about one 525 00:29:56,720 --> 00:29:59,800 Speaker 1: tenth of one percent. Intels one we should worth checking 526 00:29:59,840 --> 00:30:02,040 Speaker 1: on as well. I n TC is your taker. It's 527 00:30:02,040 --> 00:30:04,200 Speaker 1: actually unchanged at the moment, but you did see earlier 528 00:30:04,280 --> 00:30:07,560 Speaker 1: in the session it drop about one percent. So once 529 00:30:07,600 --> 00:30:10,080 Speaker 1: again there's a lot of movement in this industry. This 530 00:30:10,280 --> 00:30:11,880 Speaker 1: is the sector I would keep an eye on today. 531 00:30:12,400 --> 00:30:15,680 Speaker 1: Well more than tangential to this is cyber security. What 532 00:30:16,000 --> 00:30:18,600 Speaker 1: is happening on that front. There's a lot happening on 533 00:30:18,640 --> 00:30:20,080 Speaker 1: that front. You know. I feel like tech is once 534 00:30:20,080 --> 00:30:22,480 Speaker 1: again becoming the story. But it's not just your traditional tech. 535 00:30:22,520 --> 00:30:24,800 Speaker 1: It's not your Apple, your Microsoft, your Tesla, it's your 536 00:30:24,840 --> 00:30:27,240 Speaker 1: kind of I want to see like adjacent tech that 537 00:30:27,280 --> 00:30:30,080 Speaker 1: you would think of your semiconductors or cybersecurity, the ones 538 00:30:30,160 --> 00:30:32,800 Speaker 1: that trade in line with big tech. Almost so for cybersecurity, 539 00:30:32,880 --> 00:30:35,480 Speaker 1: the story here is that Morgan Stanley analysts saying they're 540 00:30:35,520 --> 00:30:39,960 Speaker 1: expecting durable security spending environment in the second half of two. 541 00:30:40,000 --> 00:30:42,959 Speaker 1: They're quoting an uncertain macro backdrop. I remember this has 542 00:30:43,000 --> 00:30:45,600 Speaker 1: been a trade that's worked in terms of defense, not 543 00:30:45,680 --> 00:30:48,760 Speaker 1: in terms of Locky Martin et cetera. Also cybersecurity since 544 00:30:48,960 --> 00:30:51,040 Speaker 1: the war in Ukraine broke out. Paula Alto Networks is 545 00:30:51,040 --> 00:30:53,600 Speaker 1: a good example. P A n W down about two 546 00:30:53,600 --> 00:30:55,200 Speaker 1: tents of a percent, and I'll give you one more 547 00:30:55,480 --> 00:30:59,120 Speaker 1: crowd strike c r W d uh it is also 548 00:30:59,240 --> 00:31:02,800 Speaker 1: down two tons of one percent. Thanks Critty, appreciate it. Um. 549 00:31:03,040 --> 00:31:06,600 Speaker 1: Bloomberg Radio TV Markets correspondent Critty Gupta and looking at 550 00:31:06,640 --> 00:31:10,040 Speaker 1: stocks as a whole, as she said, they're flat down, 551 00:31:10,120 --> 00:31:14,720 Speaker 1: futures up nine smp EMNI, futures unchanged and as a 552 00:31:14,840 --> 00:31:18,040 Speaker 1: futures down just too. You're listening to Bloomberg Day Bread 553 00:31:23,240 --> 00:31:25,920 Speaker 1: and just ahead we will go to the nation's capital, 554 00:31:26,200 --> 00:31:29,200 Speaker 1: will look at the breath of charges new subpoenas in 555 00:31:29,360 --> 00:31:43,400 Speaker 1: the Georgia election pro You're listening to Bloomberg block markets 556 00:31:43,520 --> 00:31:46,600 Speaker 1: headlines and breaking news twenty four hours a day at 557 00:31:46,640 --> 00:31:50,600 Speaker 1: Bloomberg dot Com, the Bloomberg Business and at Bloomberg Quick Tape. 558 00:31:51,160 --> 00:32:00,200 Speaker 1: He's a Bloomberg Business Flash and I'm Karen Moscow. And 559 00:32:00,360 --> 00:32:04,000 Speaker 1: futures have been fluctuating this morning. They are lower once again. 560 00:32:04,080 --> 00:32:05,960 Speaker 1: We go to the first Word breaking news dance for 561 00:32:06,000 --> 00:32:09,840 Speaker 1: today's morning call, and here's Bell Malone A bill, good morning, Hey, 562 00:32:10,080 --> 00:32:12,680 Speaker 1: good morning. Can that's right. Modest losses in the futures 563 00:32:12,760 --> 00:32:15,200 Speaker 1: right now at death Futures down twenty nine point samees 564 00:32:15,240 --> 00:32:18,960 Speaker 1: drop five and as that futures declined by seventeen the 565 00:32:19,120 --> 00:32:22,360 Speaker 1: US ten year that two point two percent, Gold is 566 00:32:22,400 --> 00:32:25,360 Speaker 1: down four oil is little changed, and bitcoin is down 567 00:32:25,440 --> 00:32:28,720 Speaker 1: by one point seven percent. Asian stocks fell overnight on 568 00:32:28,800 --> 00:32:32,440 Speaker 1: fears of another lockdown in Shanghai, while up markets are 569 00:32:32,560 --> 00:32:34,440 Speaker 1: firmly in the green, lit by gains in the UK 570 00:32:34,720 --> 00:32:37,320 Speaker 1: and France back in the US. On the economic front, 571 00:32:37,440 --> 00:32:40,640 Speaker 1: nine Services and Composite p m ees and at ten 572 00:32:40,640 --> 00:32:43,840 Speaker 1: o'clock the I s M Services Index in Indian news, 573 00:32:43,880 --> 00:32:46,520 Speaker 1: Amazon and take up to a fifteen percent stake in 574 00:32:46,680 --> 00:32:49,480 Speaker 1: a grub pub. In other news, crypto broker Voyage your 575 00:32:49,520 --> 00:32:53,440 Speaker 1: Digital filed four, Chapter eleven and Tiger Global's hedge fund 576 00:32:53,480 --> 00:32:56,560 Speaker 1: Game three point four percent in June, pairing its twenty 577 00:32:56,920 --> 00:33:00,160 Speaker 1: two drop to fifty percent. Wrapping things up, Stay Were 578 00:33:00,240 --> 00:33:03,080 Speaker 1: was raised by a Bank for America, Continal Resources cut 579 00:33:03,120 --> 00:33:05,800 Speaker 1: You set to perform at RBC in vm ware were 580 00:33:05,840 --> 00:33:09,160 Speaker 1: put to market perform, Will grad Ram and James Live 581 00:33:09,280 --> 00:33:11,400 Speaker 1: from the first to breaking news bescon fill maloney care 582 00:33:11,800 --> 00:33:13,440 Speaker 1: all right, Bill, thank you to hear live breaking news 583 00:33:13,520 --> 00:33:16,120 Speaker 1: of your Bloomberg type squawk on your terminal. SCU You 584 00:33:16,280 --> 00:33:18,680 Speaker 1: a w K and that's a Bloomberg Business Flash. Now, 585 00:33:18,720 --> 00:33:21,040 Speaker 1: here's Michael Barr with more on what's going on around 586 00:33:21,080 --> 00:33:23,280 Speaker 1: the world. Michael Darren, thank you very much. Man in 587 00:33:23,400 --> 00:33:26,200 Speaker 1: charge with seven counts of murder after firing off more 588 00:33:26,280 --> 00:33:29,320 Speaker 1: than seventy rounds at an Independence Day parade in suburban 589 00:33:29,440 --> 00:33:33,880 Speaker 1: Chicago legally bought five weapons. Police say that includes the 590 00:33:33,960 --> 00:33:37,520 Speaker 1: high powered rifle used in the shooting. Two senior members 591 00:33:37,680 --> 00:33:41,640 Speaker 1: of UK Prime Minister Boris Johnson's cabinet quit late last night. 592 00:33:42,160 --> 00:33:44,680 Speaker 1: The Prime Minister and his team embraced for more potential 593 00:33:44,800 --> 00:33:49,520 Speaker 1: cabinet resignations this morning, after ten Tory MP's quit government positions, 594 00:33:49,560 --> 00:33:53,800 Speaker 1: including Chancellor Rishi Sunak and Health Secretary said G. Johman. 595 00:33:54,280 --> 00:33:57,280 Speaker 1: In baseball, the Yankees and Mets lost. The Nationals, Red 596 00:33:57,360 --> 00:34:00,480 Speaker 1: Sox and Giants also lost. The Orioles and as One 597 00:34:01,080 --> 00:34:03,880 Speaker 1: Global News twenty four hours a day on air and 598 00:34:04,160 --> 00:34:07,840 Speaker 1: on Bloomberg Quick Take, powered by more than seven hundred 599 00:34:07,880 --> 00:34:11,560 Speaker 1: journalists and analysts more than twenty countries. Michael Barren, this 600 00:34:11,800 --> 00:34:14,120 Speaker 1: is Bloomberg. Karen, all right, Michael, thank you. It is 601 00:34:14,160 --> 00:34:16,440 Speaker 1: sixty nine on Wall Street. We turned to news and 602 00:34:16,560 --> 00:34:19,120 Speaker 1: science and technology now with the Bloomberg n j I 603 00:34:19,239 --> 00:34:21,719 Speaker 1: T STEM Report. It is brought to you by New 604 00:34:21,800 --> 00:34:24,759 Speaker 1: Jersey Institute of Technology and j I T welcomes its 605 00:34:24,840 --> 00:34:28,279 Speaker 1: ninth president, tech Limb Visionary Leader committed to growing nj 606 00:34:28,440 --> 00:34:31,799 Speaker 1: I T S partnerships with industry to bolster student opportunities 607 00:34:31,840 --> 00:34:34,480 Speaker 1: and outcomes. Learn more at nj I T dot E 608 00:34:34,640 --> 00:34:37,680 Speaker 1: d U and here's what's making news and science, technology, 609 00:34:37,760 --> 00:34:41,320 Speaker 1: engineering and math. In China, the COVID zero strategy is 610 00:34:41,360 --> 00:34:44,800 Speaker 1: being tested again a jump and infections across Shanghai is 611 00:34:44,840 --> 00:34:48,120 Speaker 1: raising the prospect of another lockdown. The city reported twenty 612 00:34:48,200 --> 00:34:51,200 Speaker 1: four inspections today, the most in three weeks. Meanwhile, a 613 00:34:51,320 --> 00:34:54,120 Speaker 1: highly infectious variant of the virus has begun spreading in 614 00:34:54,280 --> 00:34:57,560 Speaker 1: China for the first time. The European Parliament is gearing 615 00:34:57,640 --> 00:34:59,960 Speaker 1: up for a controversial vote on whether gas and new 616 00:35:00,040 --> 00:35:03,279 Speaker 1: clear energy can be considered green. Opponents say a yes 617 00:35:03,400 --> 00:35:06,319 Speaker 1: vote would turnish the EU's ambition to set the gold 618 00:35:06,440 --> 00:35:09,600 Speaker 1: standard for green finance. The discussion is heated up since 619 00:35:09,640 --> 00:35:12,120 Speaker 1: the invasion of Ukraine, since the region wants to get 620 00:35:12,239 --> 00:35:15,680 Speaker 1: rid of fossil fuels from Moscow, and Amazon has struck 621 00:35:15,719 --> 00:35:18,200 Speaker 1: a deal to take up to a fifteen percent steak 622 00:35:18,239 --> 00:35:21,320 Speaker 1: in grub Hub. It also will offer its prime users 623 00:35:21,360 --> 00:35:23,440 Speaker 1: in the U S a one year membership to the 624 00:35:23,520 --> 00:35:26,800 Speaker 1: food delivery service. Grubhub is owned by the Dutch company 625 00:35:26,920 --> 00:35:30,240 Speaker 1: Just Eat Takeaway, which announced plans to find an investor 626 00:35:30,400 --> 00:35:33,000 Speaker 1: or bidder for the US business in April. And as 627 00:35:33,080 --> 00:35:36,239 Speaker 1: a Bloomberg and j I t Stem report, John all right, 628 00:35:36,280 --> 00:35:39,600 Speaker 1: thanks Karen. We are lying for the Bloomberg Interantibroker Studios 629 00:35:39,640 --> 00:35:42,879 Speaker 1: where it is six fifty wood on Wall Street time 630 00:35:42,920 --> 00:35:45,200 Speaker 1: now to check what's going on in the nation's capital. 631 00:35:45,320 --> 00:35:49,040 Speaker 1: Some of our top stories Giuliani Graham five other subpoena, 632 00:35:49,120 --> 00:35:52,840 Speaker 1: the in the Georgia probe, blink In plans, candidate exchange 633 00:35:52,920 --> 00:35:56,480 Speaker 1: with China, the war in Ukraine, China calls US pressure 634 00:35:56,520 --> 00:36:02,160 Speaker 1: on chipmakers, technological terrorism, and miss Parent's still birth prosecutions 635 00:36:02,200 --> 00:36:05,440 Speaker 1: await women post Row. Let's take a deeper dive he 636 00:36:05,560 --> 00:36:08,200 Speaker 1: into some of these stories this morning, with Bloomberg government 637 00:36:08,239 --> 00:36:12,120 Speaker 1: reporter Emilee Wilkins joining us from the nation's capital. Emily, 638 00:36:12,239 --> 00:36:15,800 Speaker 1: good morning to you. Uh. New subpoenas and that Georgia 639 00:36:16,080 --> 00:36:19,480 Speaker 1: election probe. Give us an idea the breadth of charges 640 00:36:19,520 --> 00:36:22,840 Speaker 1: and who's involved? Yeah, so this is a probe that 641 00:36:23,040 --> 00:36:26,480 Speaker 1: is really going into Trump's efforts to overturn the election. 642 00:36:26,719 --> 00:36:30,480 Speaker 1: In if you'll remember, there was that phone call that 643 00:36:30,560 --> 00:36:34,280 Speaker 1: really made headlines about Trump UH decently calling up election 644 00:36:34,360 --> 00:36:37,319 Speaker 1: officials and asking them to find more ballots, to find 645 00:36:37,480 --> 00:36:40,200 Speaker 1: more votes. And so there's a group that's been looking 646 00:36:40,360 --> 00:36:43,960 Speaker 1: into this. UM. They've reached out to Rudy Giuliani, Senator 647 00:36:44,080 --> 00:36:47,640 Speaker 1: Lindsay Graham, four of Trump's lawyers, as well as a 648 00:36:47,760 --> 00:36:51,400 Speaker 1: podcaster who supported Trump's efforts to change the outcome of election, 649 00:36:51,800 --> 00:36:55,560 Speaker 1: and have asked them to testify UM the Grand UH 650 00:36:56,239 --> 00:37:00,680 Speaker 1: At this point. UH. Rudy Giuliani's attorney says that he 651 00:37:00,920 --> 00:37:04,799 Speaker 1: has not been served with a subpoena at this point, UM. 652 00:37:05,080 --> 00:37:07,880 Speaker 1: And it'll be interesting to see what sort of cooperation 653 00:37:08,160 --> 00:37:13,080 Speaker 1: Giulianti and Linda Graham wind up giving to this particular investigation. This, 654 00:37:13,239 --> 00:37:16,239 Speaker 1: of course, is separate from, UH the two other major 655 00:37:16,320 --> 00:37:19,919 Speaker 1: investigations that are going on. Number One, the January six 656 00:37:20,000 --> 00:37:22,800 Speaker 1: panel in the House that's been holding these public hearings 657 00:37:22,840 --> 00:37:25,239 Speaker 1: and is going to be holding more next week, as 658 00:37:25,320 --> 00:37:29,440 Speaker 1: well as the Department of Justice investigation into what happened 659 00:37:29,480 --> 00:37:34,600 Speaker 1: on January six. Yeah, essentially bring up the January six investigation. 660 00:37:35,560 --> 00:37:38,960 Speaker 1: What's their connection to criminal charge? They can't bring criminal charges, 661 00:37:39,040 --> 00:37:42,440 Speaker 1: but what they can recommend to the Justice Department. Where 662 00:37:42,480 --> 00:37:46,200 Speaker 1: does all nets stand? Yes, you're absolutely right, John, The 663 00:37:46,320 --> 00:37:50,239 Speaker 1: January six Committee cannot bring criminal charges, but they can 664 00:37:50,400 --> 00:37:53,520 Speaker 1: present evidence and they could potentially make recommendations. And there 665 00:37:53,560 --> 00:37:56,080 Speaker 1: has actually been some debate among the lawmakers on the 666 00:37:56,160 --> 00:37:59,320 Speaker 1: January six Committee as well as whether they should be 667 00:37:59,480 --> 00:38:03,400 Speaker 1: recommend in specific charges when they should do that. I mean, remember, 668 00:38:03,680 --> 00:38:06,080 Speaker 1: we're having these public hearings now, but the committee has 669 00:38:06,080 --> 00:38:08,520 Speaker 1: stressed multiple times that its work is not done, that 670 00:38:08,600 --> 00:38:11,680 Speaker 1: it's still ongoing, that these public hearings have led to 671 00:38:11,920 --> 00:38:15,760 Speaker 1: more individuals coming forward. The committee is expected to release 672 00:38:15,880 --> 00:38:21,000 Speaker 1: a report um in either July August September, coming up 673 00:38:21,040 --> 00:38:24,000 Speaker 1: here before the election um. And so at that point 674 00:38:24,080 --> 00:38:27,520 Speaker 1: we would expect if the Justice Department was going to 675 00:38:27,800 --> 00:38:30,040 Speaker 1: sort of take something from the committee, it would be 676 00:38:30,120 --> 00:38:32,759 Speaker 1: what would be compiled in that report and see if 677 00:38:32,800 --> 00:38:35,759 Speaker 1: they could use it then further their own investigation. All right, 678 00:38:35,800 --> 00:38:38,080 Speaker 1: let's move to the next story. The Secretary of State 679 00:38:38,400 --> 00:38:42,840 Speaker 1: Planning and Exchange with China on the war in Ukraine 680 00:38:43,200 --> 00:38:45,719 Speaker 1: and as we know, China's sort of come down on 681 00:38:45,760 --> 00:38:49,400 Speaker 1: the side of Russia in this war, right, Yeah, and 682 00:38:50,400 --> 00:38:53,120 Speaker 1: Li Lincoln is the China's you know, they walked this 683 00:38:53,239 --> 00:38:56,400 Speaker 1: interesting line where they've said that they, you know, that 684 00:38:56,480 --> 00:38:59,640 Speaker 1: their friendship has no limits with Russia. UM. But at 685 00:38:59,719 --> 00:39:02,920 Speaker 1: this time they haven't yet really crossed some of the 686 00:39:03,040 --> 00:39:05,400 Speaker 1: lines that the US has set down as far as 687 00:39:05,480 --> 00:39:08,360 Speaker 1: saying that, hey, we will be sanctioning other countries that 688 00:39:08,440 --> 00:39:11,080 Speaker 1: try to help Russia. UM. And so this is just 689 00:39:11,200 --> 00:39:14,719 Speaker 1: another conversation, I mean, obviously a very important conversation given 690 00:39:14,760 --> 00:39:18,000 Speaker 1: the high level of diplomats involved. UM. Just trying for 691 00:39:18,040 --> 00:39:20,360 Speaker 1: the US and China to to touch base and to 692 00:39:20,480 --> 00:39:24,320 Speaker 1: discuss where China is at in terms of Russia and Ukraine. 693 00:39:24,560 --> 00:39:27,000 Speaker 1: This will be happening at the upcoming G twenty meeting 694 00:39:27,200 --> 00:39:31,440 Speaker 1: in Indonesia. UM And while Secretary of State Anthony Lincoln 695 00:39:31,520 --> 00:39:34,239 Speaker 1: will be meeting with his Chinese counterpart, he will not 696 00:39:34,400 --> 00:39:37,400 Speaker 1: be meeting with his Russia counterpart, who's also expected to 697 00:39:37,480 --> 00:39:41,000 Speaker 1: be at the meeting. UM divided an administration uh AT 698 00:39:41,040 --> 00:39:44,920 Speaker 1: State Department spokesman At Price said on Tuesday that the 699 00:39:45,000 --> 00:39:47,719 Speaker 1: two aren't expected to meet because the U S would 700 00:39:47,760 --> 00:39:50,560 Speaker 1: only do so if Russia has shown that is interested 701 00:39:50,600 --> 00:39:53,680 Speaker 1: in a diplomatic solution with the Ukrainian conflicts, and at 702 00:39:53,719 --> 00:39:56,279 Speaker 1: this point that hasn't happened. And if you need a 703 00:39:56,400 --> 00:40:00,359 Speaker 1: reminder about the existing tensions between China and the you ask, 704 00:40:00,680 --> 00:40:03,719 Speaker 1: you can look at this next story, UM, accusing the 705 00:40:04,120 --> 00:40:08,920 Speaker 1: US of technological terrorism. What's this about? Yeah, so the 706 00:40:09,040 --> 00:40:12,000 Speaker 1: US right now is lobbying in other countries to stop 707 00:40:12,160 --> 00:40:17,320 Speaker 1: selling technology that's needed for making chips to China, and 708 00:40:17,440 --> 00:40:20,920 Speaker 1: so China, Uh, you know, the US is obviously trying 709 00:40:21,040 --> 00:40:25,759 Speaker 1: to put some limits on China's ability to produce these chips. UM. 710 00:40:26,000 --> 00:40:29,280 Speaker 1: Right now, the US in Congress is trying to actually 711 00:40:29,400 --> 00:40:32,359 Speaker 1: pass more than fifty billion dollars of funding to try 712 00:40:32,440 --> 00:40:35,160 Speaker 1: and have the U s start making more chips. UM. 713 00:40:35,280 --> 00:40:37,560 Speaker 1: And so this is obviously something that UM, you know, 714 00:40:37,800 --> 00:40:41,640 Speaker 1: it's it's not look favorably on in Beijing. UM that 715 00:40:42,560 --> 00:40:47,080 Speaker 1: their concerns. UM that officials have spoken about publicly saying 716 00:40:47,160 --> 00:40:49,880 Speaker 1: that this is just another example of the US practicing 717 00:40:49,960 --> 00:40:54,799 Speaker 1: coercive diplomacy, abusing state power. UM. Of course, it's yet 718 00:40:54,880 --> 00:40:57,680 Speaker 1: to be seen at this point exactly what is going 719 00:40:57,760 --> 00:41:00,480 Speaker 1: to happen, Whether some of these allies like the Netherlands 720 00:41:00,520 --> 00:41:03,239 Speaker 1: are going to agree to stop selling some of these 721 00:41:03,719 --> 00:41:07,719 Speaker 1: technologies to China. UM. But this is something that the 722 00:41:07,880 --> 00:41:10,640 Speaker 1: US and Bloomberg has reported that the US has maybe 723 00:41:10,760 --> 00:41:14,080 Speaker 1: asked um and kind of speaks to both attentions with 724 00:41:14,280 --> 00:41:17,120 Speaker 1: China as well as some of the supply chains concerns 725 00:41:17,200 --> 00:41:20,160 Speaker 1: that the US currently has and m always a pleasure 726 00:41:20,160 --> 00:41:23,400 Speaker 1: appreciated Bloomberg's family Wilkins. You can read more about these 727 00:41:23,440 --> 00:41:26,160 Speaker 1: stories on Bloomberg dot com with the Bloomberg terminal and 728 00:41:26,320 --> 00:41:29,360 Speaker 1: a reminder, you can follow all the latest on Bloomberg 729 00:41:29,480 --> 00:41:32,919 Speaker 1: Radio and watching at Bloomberg at one oh five point 730 00:41:33,000 --> 00:41:37,239 Speaker 1: seven FM HD two. Well, you may have noticed that 731 00:41:37,320 --> 00:41:39,839 Speaker 1: the gas pump getting a little cheaper to fill up 732 00:41:39,880 --> 00:41:43,640 Speaker 1: these days as we look at the crude oil IMEX 733 00:41:43,719 --> 00:41:48,400 Speaker 1: crude under one dollars of barrel and ahead of the 734 00:41:48,440 --> 00:41:51,040 Speaker 1: cashow up on Wall Street DAL futures right now thirty 735 00:41:51,160 --> 00:41:53,080 Speaker 1: seven points slower, sort of the in and out of 736 00:41:53,120 --> 00:41:55,520 Speaker 1: gains all morning long and treading a bit of water 737 00:41:55,600 --> 00:41:58,200 Speaker 1: at one point down a tenth of her percent right 738 00:41:58,280 --> 00:42:01,360 Speaker 1: now for the Dow futures SMP future six points lower. 739 00:42:01,760 --> 00:42:03,960 Speaker 1: Has done about two tenths of a percent, and the 740 00:42:04,080 --> 00:42:07,560 Speaker 1: tech have a NASDAC emitting futures right now twenty four 741 00:42:07,600 --> 00:42:10,840 Speaker 1: points lower, that is down two tenths of a percent. 742 00:42:11,320 --> 00:42:15,000 Speaker 1: In London, with all the turmoil surrounding British Prime Minister 743 00:42:15,520 --> 00:42:18,400 Speaker 1: Boris Johnson, the foot see one hundred up right now 744 00:42:18,520 --> 00:42:22,280 Speaker 1: one hundred twenty points arise at one point seven percent. 745 00:42:22,600 --> 00:42:26,040 Speaker 1: And looking to treasuries this morning, we see this inversion 746 00:42:26,200 --> 00:42:29,040 Speaker 1: in the yield curve between twos and tens. The two 747 00:42:29,160 --> 00:42:32,160 Speaker 1: year yield above the ten year at two point eight 748 00:42:32,280 --> 00:42:35,600 Speaker 1: three percent, a ten year yield two point eight one 749 00:42:35,760 --> 00:42:40,759 Speaker 1: percent this morning, and just ahead Bloomberg Surveillance. You've been 750 00:42:40,800 --> 00:42:44,480 Speaker 1: listening to Bloomberg Daybreak for Karen Moscow. I'm John Tucker, 751 00:42:44,840 --> 00:42:46,280 Speaker 1: and this is Bloomberg