Speaker 1: Live from the Bloomberg Interactive Burgers Studios. This is Bloomberg
Speaker 1: day Break for Thursday. Coming up this hour. US stocks
Speaker 1: have their best day in two years after J. Pale
Speaker 1: indicates a seventy five basis point hike is not in
Speaker 1: the cards. The Bank of England is expected to raise
Speaker 1: rates to the highest level in thirteen years, and Warren
Speaker 1: Buffett raises his bet on one oil Giant. The majority
Speaker 1: of New Yorker's disapprove of me or Adams handling on
Speaker 1: Prime bless sucks every state. Anthony Blincoln test positive for COVID.
Speaker 1: I'm Michael barn More Ahead, I'm trying Stationwark forwards. The
Speaker 1: Yankees eleven game win streak came to Aday. The Mets
Speaker 1: also lost the Rangers in Penguins play Game two with
Speaker 1: the Garden Tonight. That's All's train ahead on Bloomberg Daybreak
Speaker 1: on Bloomberg eleven, Free on New York, Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine
Speaker 1: sixties and Francisco Sirius XM one nineteen and around the
Speaker 1: world on Bloomberg Radio dot Com and bother Bloomberg business
Speaker 1: app Good Morning, I'm Nathan Hager and I'm Karen Moscow.
Speaker 1: In US stock index futures are lower this morning. We're
Speaker 1: coming up to six o one on Wall Street, and
Speaker 1: we check the markets every fifteen minutes throughout the trading
Speaker 1: day on Bloomberg with SNP futures down twenty five points down,
Speaker 1: futures down one thirty eight, and NAS day futures down
Speaker 1: one d seven. Ten year Treasury down four thirty seconds
Speaker 1: yield two point nine five percent. They yield on the
Speaker 1: two year two point six seven percent call max school
Speaker 1: there is at one point six percent of twenty eight
Speaker 1: dollars ninety cents at eight ninety seven seventy announced. The
Speaker 1: euro this morning at one point oh five nine six
Speaker 1: against the dollar, the n one nine point six seven. Nathan, well, Karen.
Speaker 1: The pullback we're seeing in stock futures this morning follows
Speaker 1: yesterday's fed field rally. In the news conference after the
Speaker 1: fifty basis point rate hike from the Central Bank, Chairman
Speaker 1: j Pal indicated another fifty, not seventy five, was on
Speaker 1: the table for the next meeting. Seventy five basis point
Speaker 1: uh it increases, not something the committee is actively considering,
Speaker 1: assuming that economic and financial conditions evolve in in ways
Speaker 1: that are consistent with our expectations. There's a broad sense
Speaker 1: on the committee that additional fifty basis increases should be
Speaker 1: on fifty basis point increas should be on the table
Speaker 1: for the next couple of meetings. Like comment by fed
Speaker 1: share pal fueled a huge rally in the market's treasury
Speaker 1: yields dropped. Stocks rally the most in two years, with
Speaker 1: the SMP five hundred surging three percent while the tech
Speaker 1: heavy NASDAC grows three point two percent. Jason Brady is
Speaker 1: CEO of Thornburg Investment Management. I actually expected seventy five
Speaker 1: to be on the table. He took it off the table.
Speaker 1: I think the markets were pricing in very hawkish, and
Speaker 1: you could now hawk the market. So obviously, the reaction
Speaker 1: markets has been that this is a little bit more dubbish.
Speaker 1: Thornburg Investment Management CEO Jason Brady says he thinks yesterday's
Speaker 1: rally is not sustainable. Well, reaction is still pouring into
Speaker 1: Powell pushing back against a larger seventy five basis point increase.
Speaker 1: Nathan and We get the very latest live with the
Speaker 1: Bloomberg's John Tucker. John Aaron at Grant Thorpe and the
Speaker 1: chief account of US there, Diane Schwant, says the FED
Speaker 1: is operating in a new paradigm. The FED is now
Speaker 1: in a position where they're focused on inflation and employment
Speaker 1: is secondary. That is a very different equation than we've
Speaker 1: seen the FIT in for a very very long time.
Speaker 1: Scott Minor, the chief investment officer at Google Hives, is
Speaker 1: going back to the nineteen thirties, the FED has never
Speaker 1: been able to reduce inflation by more than two and
Speaker 1: a half percentage points without inducing a recession. So even
Speaker 1: if we don't get close to the two percent target,
Speaker 1: it's very likely that we will have some kind of
Speaker 1: an economic slowdown well before we get to the desired
Speaker 1: inflation target. Scott minors these further hikes of fifty basis
Speaker 1: points on the table for June and July. Former Philly
Speaker 1: FED President Charles Plosser also weighing in. He says pal
Speaker 1: was trying to appease markets and should not have taken
Speaker 1: a seventy five basis point hike off the table Live
Speaker 1: in New York on John Tucker Bloomberg Daybreak. All right, John, thanks,
Speaker 1: Now we're waiting for another are important policy decision this
Speaker 1: morning in Europe. Let's get the very latest onn that
Speaker 1: lie from Bloomberg's Max Ramsey. Good morning, Max, Morning to you,
Speaker 1: Nathan and Karen. Less than an hour ago until the
Speaker 1: rate decision from the Bank of England market for pricing
Speaker 1: in a fourth back to back hike. This would take
Speaker 1: the benchmark policy rate to one percent. That's the highest
Speaker 1: since two thousand and nine. But also very much in
Speaker 1: focus any details of how the BOE intends to unwind
Speaker 1: more than a decade of bond purchases. Live in London,
Speaker 1: Max Ramsey, bloom Back day break right, Max, thank you.
Speaker 1: There's also an Opaque meeting today. OPEC and his allies
Speaker 1: are expected to ratify another small increase in oil production.
Speaker 1: Their meeting comes just one day after the EU announced
Speaker 1: is planned for a phased ban on Russian crude and
Speaker 1: checking prices. Right now, Nimex crude oil is higher up
Speaker 1: to tens of upper cent or sixty and cents at
Speaker 1: a hundred seven dollars ninety eight cents of barrel Brent
Speaker 1: is at four tenths percent at a hundred ten dollars
Speaker 1: sixty one cents. The oil prices at historic heis Karen
Speaker 1: ev Lawmakers pointing to anti trust laws at OPEC, A
Speaker 1: key Senate committees expected to approved legislation that would allow
Speaker 1: the US to sue the cartel for manipulating energy markets.
Speaker 1: This vote by the Senate Judiciary Committee today would pave
Speaker 1: the way for full Senate consideration. Now, staying in the
Speaker 1: oil passion, Nathan, we're in Buffet is increasing his bat
Speaker 1: on one big energy company, and we get the Ladish
Speaker 1: line from Bloomberg's renied a Young, good morning, Ready down,
Speaker 1: good morning. Karen Berkshire half Away had already built up
Speaker 1: a roughly fourteen point six percent holding of Occidental Petroleum's
Speaker 1: common stock. Now Buffett is snapping up about five point
Speaker 1: nine million more shares of the oil giant. Of filing
Speaker 1: shows the shares were bought this week at prices ranging
Speaker 1: from about fifty six to fifty eight dollars of peace,
Speaker 1: and right now it's trading close to sixty two dollars
Speaker 1: this morning. Accidental was the best performing stock in the
Speaker 1: SMP five during the first quarter, and it's seen it
Speaker 1: shares benefit from Buffett's purchases and higher oil prices driven
Speaker 1: by the war in Ukraine. Live in New York. I'm
Speaker 1: renned a young Bloomberg daybreak. All right, Renia, thanks, Let's
Speaker 1: turn to what's happening on the ground in Ukraine. Now,
Speaker 1: civilian of avacuations continue out of the war ravaged city
Speaker 1: of Maryu Poul. In his latest video address, President Vladimir's
Speaker 1: Lensky says three forty four people have gotten out, even
Speaker 1: as heavy fighting continues at a steel plant in the city.
Speaker 1: The Pentagon says Russia is getting bogged down in eastern
Speaker 1: and southern Ukraine. And Sweden's Foreign minister met with Secretary
Speaker 1: of State Antony Blink and she says the US is
Speaker 1: offering security assurances to Sweden and Finland as they apply
Speaker 1: to join NATO. Well, the other big political story we
Speaker 1: continue to follow Nathan is abortion rights. The head of
Speaker 1: the CDC, Dr Rochelle Wilenski is weighing in and she
Speaker 1: warns the more deaths if the link Supreme Court rolling
Speaker 1: on Roe v. Wade stands. Plumbar said Baxter has more.
Speaker 1: Dr Wolenski says she fears that there could be an
Speaker 1: atmosphere where there's much less medical supervision for people taking
Speaker 1: things into their own hands, and she says it will
Speaker 1: lead to unequal access to the procedure because people with
Speaker 1: less funds will not be able to cross state lines.
Speaker 1: Tied to that, abortion rights groups took over twelve million
Speaker 1: dollars over the twenty four hours following the leak of
Speaker 1: the initial roev Wade decision draft, and Planned Parenthood says
Speaker 1: it saw a six hundred fifty percent increase in online actions.
Speaker 1: In San Francisco, I'm at Baxter Bloomberg, Gay break alright
Speaker 1: ed thanks as futures move lawer. We check your local headlines.
Speaker 1: Next plus sports. This is Bloomberg at six o seven
Speaker 1: on Wall Street where fifty eight degrees in Central Park.
Speaker 1: Still dealing with that accident Old Country Road in West
Speaker 1: Very a tractor trailer involved. Detailers coming up in traffic.
Speaker 1: First Michael Barr with more on what's going on in
Speaker 1: New York and around the world. Michael, thank you very much. Nathan.
Speaker 1: A majority of New Yorkers say they disapprove of Mayor
Speaker 1: Eric adams handling of crime in the Five Boroughs, a
Speaker 1: reversal from three months ago. According to a new Quinnipiac
Speaker 1: University poll, owning approve of Adam's handling of crime well
Speaker 1: fifty four percent disapprove. In February approved of Adam's performance
Speaker 1: on crime. The news comes as two men were shot
Speaker 1: and killed in Intown Manhattan Overninth Police is searching for
Speaker 1: three suspects for the shooting at thirty seven and ninth Avenue. Meanwhile,
Speaker 1: Mayor Adams is urging New Yorkers to trade the pajamas
Speaker 1: for lunch near their workplaces. Adams says that's the way
Speaker 1: metropolitan economies functioned properly. He spoke during a panel discussion
Speaker 1: at the Milken Institute Global Conference in Beverly Hills, California.
Speaker 1: State Department spokesman Ned Price says Secretary of State Anthony
Speaker 1: Blincoln is quarantining. Secretary Blincoln has tested positive for COVID.
Speaker 1: The good news is that he is fully vaccinated, he
Speaker 1: is boosted. He is experiencing only mild symptoms. Spokesman Ned
Speaker 1: Price says Blincoln will work from home in the coming days.
Speaker 1: Blincoln had to postpone a key China policy speech that
Speaker 1: had been scheduled for today. He attended the White House
Speaker 1: Correspondents Association dinner on Saturday. No word yet on who
Speaker 1: leaked the Supreme Court draft opinion on abortion rights. Chief
Speaker 1: Justice John Roberts has called for an internal investor gaistion. Meanwhile,
Speaker 1: President Biden is not mincing words about a draft document
Speaker 1: with the majority voting to overturn Roe V. Wade. What
Speaker 1: are the next things that are going to be attacked?
Speaker 1: Because this MAGA crowd is really the most extreme political
Speaker 1: organization that's existed in American history, in recent American history.
Speaker 1: The President spoke to reporters at an event on the
Speaker 1: economy and the deficit. We're learning Donald Trump Jr. Was
Speaker 1: interviewed as part of a House Select Committee's investigation of
Speaker 1: last year's ryan at the US Capital. He is the
Speaker 1: latest member of former President Trump's family to be questioned.
Speaker 1: A person familiar with the matters says the private virtual
Speaker 1: session lasted between two and three hours. Global News twenty
Speaker 1: four hours a day on air and on Bloomberg quick Take,
Speaker 1: powered by more than twenty seven hundred journalists and analysts
Speaker 1: more than a hundred twenty countries. Michael Barr and this
Speaker 1: is Bloomberg, Nathan, Thanks Michael six o nine on Wall
Speaker 1: Streets on Stash hours here at the Bloomberg Sports update.
Speaker 1: All right, anthan the Yankees first loss since April one
Speaker 1: in Toronto. They had an early home run from Joey Gallo.
Speaker 1: Nothing after that. The eleven game winning streak ended two
Speaker 1: to one. Esther Cortes gave up a Matt Chapman home run,
Speaker 1: he took his first loss. Michael King and Clay Holmes
Speaker 1: followed Cortes through four hit listenings of relief. Both those
Speaker 1: guys have e r a s under one day off today.
Speaker 1: Yanks back home tomorrow to play Texas Mets. Tonight in Philadelphia.
Speaker 1: They lost to Atlanta nine to two, scoreless game going
Speaker 1: to the sixth inning when the Braves erupted for seven runs.
Speaker 1: Tyler McGill, his first start since he got the win
Speaker 1: and the Mets no hitter suffered his first loss, so
Speaker 1: they split the four game series, the first series this
Speaker 1: season the Mets of failed to win NBA playoffs. Miami
Speaker 1: and Phoenix are the top seeds and they both wanted
Speaker 1: home and both leave their series too nothing. Stanley Cup
Speaker 1: Playoffs three series are not tied at one. After wins
Speaker 1: by Tampa Bay, Minnesota and Edmonton. Carolina again beat Boston.
Speaker 1: The Hurricanes up to ZIP two nights after the first
Speaker 1: triple overtime game played at Madison Square Garden in fifty
Speaker 1: one years Andrews and Penguins. We'll be back at it
Speaker 1: tonight for Game two, Rangers coach Gerard gout And asked
Speaker 1: about losing a Game one heartbreaker. It would be heard
Speaker 1: if we were playing Colorado, who's talking the best game
Speaker 1: in the league, and you lose five. Nothing like games
Speaker 1: like that where you know you're saying to your team,
Speaker 1: how are we going to get back from this? We
Speaker 1: play that, we're playing a very good team who I
Speaker 1: think anybody can win this series. Of better team is
Speaker 1: going to win this series, and it's going to be
Speaker 1: a battle. So you know what, it's one game, you
Speaker 1: get over and you move on. It appears the Pittsburgh
Speaker 1: goalie tonight will being Louis domin game, who has never
Speaker 1: started a playoff game before. He came off the bench
Speaker 1: the other night when the starter Casey to Smith got hurt.
Speaker 1: John Stash they were Bloomberg Sports Nick all right, John,
Speaker 1: thanks right now. SMP futures are lower by twenty two points.
Speaker 1: Down futures down a hundred eighteen. NASTAC future is lower
Speaker 1: by nine three points. Some pullback for equity futures after
Speaker 1: the FED fueld rally sparked by Chairman Powell taking seventy
Speaker 1: five basis points off the table for now. More on
Speaker 1: the Fed decision coming up with Bloomberg Economics course on
Speaker 1: at Michael McKee, still in Washington. This is Bloomberg Bloomberg
Speaker 1: eleven three oh weather, sunshine and low seventies today, some
Speaker 1: scattered showers possible tomorrow. Low sixties will start the weekend
Speaker 1: with the breezy behind the mid fifties currently fifties seven
Speaker 1: degrees in Central Park. Markets. Headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg
Speaker 1: Business Out and at Bloomberg Quick Tape, She's a Bloomberg
Speaker 1: business flash and I'm Cameron Moscow and US dot index
Speaker 1: futures are signaling a pause following me U S and
Speaker 1: P five hundreds biggest daily advances twenty after jaround Powell
Speaker 1: East fears at the Federal embark on a more aggressive
Speaker 1: pace of tightening. European shares are moving higher, and we
Speaker 1: checked the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg Guess and P future is down twenty three
Speaker 1: points this morning. Death futures down a hundred five downsday
Speaker 1: features down nineties seven. The decks in Germany's up one
Speaker 1: point four percent. Pen your treasury down four thirty seconds,
Speaker 1: he'll two point nine five percent. They yield on a
Speaker 1: two year two point six seven percent. Ninemex screwed oil
Speaker 1: is up six tents percent or sixty six cents at
Speaker 1: a hundred eight dollars, forty six cents of barrel, comic
Speaker 1: school at one point six percent of thirty dollars, ten
Speaker 1: cents at eight ninety eight ninety announce the euro one
Speaker 1: point oh six oh two against the dollar, British pound
Speaker 1: one point five six eight the end at one nine
Speaker 1: point six four and checking bitcoin this morning, it's lower,
Speaker 1: down eight ten percent at thirty nine thousand, four hundred
Speaker 1: seventy dollars. That's a bloomberg business flash. Now here's Muchael
Speaker 1: Barr with more on what's going on around the world.
Speaker 1: Muchel very in Ukrainian forces say they repelled Russian attacks
Speaker 1: in the east and captured some territory. It comes as
Speaker 1: Moscow moved to obstruct the flow of Western weapons to
Speaker 1: Ukraine by bombarding rail stations and other supplying line targets
Speaker 1: across the country coast to Coast protests continue after the
Speaker 1: release of a Supreme Court draft opinion that eludes to
Speaker 1: a reversal on Roe v. Wade. Fencing has gone up
Speaker 1: in front of the U S Supreme Court Complex. In baseball,
Speaker 1: the Yankees, Mets, Red Sox, Nationals, A's, and Giants all
Speaker 1: lost the Orioles one in the NHL Playoffs. The Rangers
Speaker 1: play Game two of their series against the Penguins tonight.
Speaker 1: The Bruins lost to the Hurricanes. Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quick to Take,
Speaker 1: powered by more than twenty seven hundred journalists and analysts
Speaker 1: in more than a hundred twenty countries. Michael Barr and
Speaker 1: this is Bloomberg. Nathan Alright, Michael, Thanks at six nineteen
Speaker 1: on Wall Street Live from the Bloomberg Interactive Broker Studios.
Speaker 1: This is Bloomberg Daybreak. Seventy basis point uh and it
Speaker 1: increases not something the committee is actively considering, assuming that
Speaker 1: economic and financial conditions evolve in in ways that are
Speaker 1: consistent with our expectations. There's a broad sense on the
Speaker 1: Committee that additional fifty basis increases should be on fifty
Speaker 1: basis points should be on the table for the next
Speaker 1: couple of weeks. That was FED Chairman Jerome Powell delivering
Speaker 1: what markets were expecting in term of interest rate hikes
Speaker 1: coming this month and potentially down the road, sparking a
Speaker 1: rally by taking seventy five basis points off the table.
Speaker 1: Bloomberg Economics correspondent Michael McKee is back with us this
Speaker 1: morning from our Bloomberg studios in Washington, d C. This
Speaker 1: morning after a very consequential FED news conference. My good morning.
Speaker 1: I guess my question is is the FED fighting inflation
Speaker 1: at this point or is the FED fighting the market?
Speaker 1: The Fed is fighting inflation, and that is something the
Speaker 1: market is trying to digest. Actually, the Fed has been
Speaker 1: sort of pushing the markets higher. What I say markets,
Speaker 1: I mean the bondod market in terms of yield. Uh.
Speaker 1: They've been pushing that higher, and uh that is kind
Speaker 1: of helped them in the sense that it tightens financial
Speaker 1: conditions more than just their rate rises. They're sort of
Speaker 1: front running themselves here, and if the market got a
Speaker 1: little ahead of itself with some idea of seventy bases points,
Speaker 1: were kind of back to reality now and we are
Speaker 1: going to see rates continue to rise, and that will
Speaker 1: uh slow the economy at some point? Well, it's slow inflation.
Speaker 1: I guess that's the other big question. Yeah, that was
Speaker 1: the point that j. Powell is making. This isn't easy
Speaker 1: because much of the inflation that we see is on
Speaker 1: the supply side, and what the Fed can do is
Speaker 1: affect demand. But if they can affect demand enough, uh,
Speaker 1: they would bring demand down to supply uh. And so
Speaker 1: at that point you would uh get rid of inflation.
Speaker 1: But that might mean we have to go way down
Speaker 1: in growth, possibly even into a recession. Paul doesn't think so,
Speaker 1: but many analysts do. Where or at least, do we
Speaker 1: have a better sense of where the Fed is aiming
Speaker 1: in terms of the inflation rate? Did we get a
Speaker 1: better indication of that from Chairman Powell on what based
Speaker 1: on what he had to say yesterday, Well, he did
Speaker 1: assert they're still trying to reach their target of two said,
Speaker 1: but he didn't put a time frame on it. He
Speaker 1: did suggest they think they can get to neutral, the
Speaker 1: rate at which they're neither stimulating or holding back the economy,
Speaker 1: by the end of the year, but he also said
Speaker 1: he didn't know exactly what neutral rate is, maybe around
Speaker 1: two and a half. So we could have significantly higher
Speaker 1: interest rates than we've had over the last three or
Speaker 1: four years, but not high by historical standards, and what
Speaker 1: effect that has on the overall economy is gonna be
Speaker 1: hard to predict. How important, Mike was it for the
Speaker 1: FED to have unanimity in this decision. It was a
Speaker 1: unanimous decision to go for fifty basis points this time around,
Speaker 1: even after St. Louis President Bullard at least floated the
Speaker 1: possibility before this meeting of seventy five. Well, you know,
Speaker 1: he was asked about seventy five and he said, Wow,
Speaker 1: it's not my base case, but I could. I wouldn't
Speaker 1: rule it out. And then that became a thing on
Speaker 1: Wall Street, is Bullard calling for seventy five, but when
Speaker 1: he didn't really call for seventy five. So I think
Speaker 1: the FED was never really in danger of being disunited
Speaker 1: and on this issue, but Wall Street was sort of
Speaker 1: hedging its bets and just in case. You could make
Speaker 1: an argument that if you're going to go up to
Speaker 1: two and a half percent, you might as well do
Speaker 1: it as quickly as possible. But the FED seems to
Speaker 1: think that is too much of a risk to the
Speaker 1: markets in the economy because it would surprise them and
Speaker 1: raise questions about how worried the FED might be about
Speaker 1: inflation in the future. Yeah, it did seem as though
Speaker 1: the market took the Chairman's words about seventy five at
Speaker 1: least not actively considering it at this point as off
Speaker 1: the table. But do we have some kind of an idea, Mike,
Speaker 1: of what would need to take place in the economy
Speaker 1: or market conditions for the FED too actively consider seventy
Speaker 1: You'd probably have to see a really big rise in
Speaker 1: core inflation. The FED knows that we're seeing a lot
Speaker 1: of headline inflation generated by food problems and oil prices,
Speaker 1: and oil prices likely to go up again if Europe
Speaker 1: follows through an embargoes Russian oil, so they can't do
Speaker 1: anything about that. But core prices if they start to
Speaker 1: rise considerably, and pressure in the core has been lower
Speaker 1: than on the headline, so if that turns around and
Speaker 1: they rise considerably, then the FED might get worried enough
Speaker 1: to do something. All right, Michael McKee as always great
Speaker 1: getting your thoughts, especially the morning after a FED day.
Speaker 1: Michael McKee, Bloomberg Economics correspondent with us from our studios
Speaker 1: in Washington d C. As we look at a bit
Speaker 1: of pullback for futures after the rally, we have SMP
Speaker 1: futures down twenty one points. Now futures are down a
Speaker 1: hundred nineteen and NAZDAC futures are lower by eighty eight
Speaker 1: points ten. Your treasury yield two point nine. Watching this
Speaker 1: red headline cross the Bloomberg terminal, Elon Musk has received
Speaker 1: additional equity commitment letters for his deal to buy Twitter.
Speaker 1: You know much more on that straight ahead as Bloomberg
Speaker 1: Daybreak continues. This is Bloomberg and Bloomberg Daybreak is brought
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Speaker 1: dot com. This is Bloomberg Daybreak six thirty on Wall Street.
Speaker 1: Good morning. I'm Nathan Hager and I'm Karen Moscow. We
Speaker 1: are just about three hours away from the open of
Speaker 1: US trading. Time for the five things you need to
Speaker 1: notice start your day. Brought to you by Interactive Brokers.
Speaker 1: Investment advisers switched to Interactive Brokers for lowest cost global
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Speaker 1: complex of your interests at ibk R dot com slash
Speaker 1: r I A up. First, we're seeing a slight pullback
Speaker 1: in futures this morning after yesterday's rally that followed a
Speaker 1: press conference from Federal Reserve Chair J Powell. Powell indicated
Speaker 1: a seventy five basis point hike was not being considered
Speaker 1: for meetings in June and said he's committed to bringing
Speaker 1: down inflation. Inflation is much too high, and we understand
Speaker 1: the hardship it is causing, and we're moving expeditiously to
Speaker 1: bring it back down. We have both the tools we
Speaker 1: need and the resolve that it will take to restore
Speaker 1: price stability on behalf of American families and businesses, and
Speaker 1: Chair J. Powell's comments came as the Fed hiked interest
Speaker 1: rates fifty basis points, and we're still watching reaction pour
Speaker 1: in Karen from many different quarters. More on that in
Speaker 1: this live report from bloom Briggs John Tucker, John Nathan.
Speaker 1: Former Philadelphia fifth President Charles Plasters has fed your Powell
Speaker 1: yesterday was trying to appease the markets at bigger rate increases.
Speaker 1: Should not be dismissed. I don't think he should have
Speaker 1: taken seventy seven basics points off the table, as many
Speaker 1: people have been. I don't. I think they need to
Speaker 1: be still on the table. Uh, And and that they
Speaker 1: all have that option. Former Philly finn President Charles Plosser.
Speaker 1: Another reaction from Scott Minor, chief investment officer at Guggenheim, says,
Speaker 1: going back to the nineteen thirties, the pen has never
Speaker 1: been able to reduce inflation by more than two and
Speaker 1: a half percentage points without inducing a recession. Live in
Speaker 1: New York on John Tucker Bloomberg Daybreak, Harry, John, thank you,
Speaker 1: we when you're up. The Bank of England will also
Speaker 1: likely lift interest rates today to combat inflation. Back in Washington, Karen,
Speaker 1: the Senate Judiciary Committee is expected to approve legislation allowing
Speaker 1: the US to sue Opeck for manipulating energy markets. Sticking
Speaker 1: with the whale, Nathan Wren Buffett's increasing his bet on
Speaker 1: one energy company and Bloomberg's or need a young joint
Speaker 1: us live with the latest. Good Morning Ray Now, Good morning.
Speaker 1: Karen Berkshire. Hathaway had already built up a roughly fourteen
Speaker 1: point six percent holding of Occidental Petroleums common stock, and
Speaker 1: now Warren Buffett is snapping up about five point nine
Speaker 1: million more shares of the oil giant. Of filing shows.
Speaker 1: The shares were bought this week at prices ranging from
Speaker 1: about fifty six to fifty eight dollars a piece. That's
Speaker 1: trading right now just above sixty one dollars. And live
Speaker 1: in New York. I'm Rinita Young Bloomberg Day break A right, Nita,
Speaker 1: thank you. That's the five things you need to notice
Speaker 1: start your day. Brought to you by Interactive Brokers and
Speaker 1: straight Ahead your latest local headlines plus a check of sports.
Speaker 1: And this is Bloomberg. Thank you. Caring six thirty three
Speaker 1: on Wall Street, fifty seven degrees in Central Park and
Speaker 1: we got an accident on the north boundary Jersey Turnpike
Speaker 1: truck planes new or Exit thirteen. More on that coming
Speaker 1: up in Traffic. First, Michael bar with more on what's
Speaker 1: going on in New York and around the world. Michael,
Speaker 1: thank you very much. Nathan. New York City police are
Speaker 1: looking for three sauspects and the shooting depths of two
Speaker 1: men in mid Down, Manhattan. The shooting happen overnight at
Speaker 1: thirty seventh and ninth Avenue. Meanwhile, a majority of New
Speaker 1: Yorkers say they disapprove of Mayor Eric adams handling of
Speaker 1: crime in the Five Boroughs, a reversal from three months ago,
Speaker 1: according to a new Quinnipia University poll, approved while fifty
Speaker 1: percent disapproved. Ukrainian forces say they repelled Russian attacks in
Speaker 1: the East and recaptured some territory. It comes as Moscow
Speaker 1: moved to obstruct the flow of Western weapons to Ukraine
Speaker 1: by bombarding rail stations and other supply line targets. Heavy
Speaker 1: fighting also raged at the Steel Mill and Merry Uple.
Speaker 1: Pentagon Press Secretary John Kirby, commenting in general on Russia's accuracy,
Speaker 1: their ability to target with precision has been um less
Speaker 1: than um than advertised throughout this entire war, spokesman John
Speaker 1: Kirby also says they are not focused on Moscow as
Speaker 1: it plans it's May Day parade on Monday. The fallout
Speaker 1: continues over the leak of Supreme Court majority draft opinion
Speaker 1: from February suggesting Roe v. Wade should be overturned. President
Speaker 1: Biden says more could be at stake if the abortion
Speaker 1: ruling is struck now. Secretary of State Anthony B. Lincoln
Speaker 1: is said to be experiencing mild symptoms after testing positive
Speaker 1: for COVID. State Department spokesman Ned Price he will quarantine
Speaker 1: at home. He will follow CDC guidelines. I know he
Speaker 1: very much looks forward to returning to the office, returning
Speaker 1: to his full schedule, and returning to the road just
Speaker 1: as soon as he is able to do so. Spokesman
Speaker 1: Ed Price says Blincoln is fully vaccinated and boosted. And
Speaker 1: Alabama murder suspect and a corrections official are still on
Speaker 1: the run after they disappeared last Friday morning. The Lauderdale
Speaker 1: County Sheriff's Department has released surveillance videos showing fifty six
Speaker 1: year old jail official Vicky White, leaving the lock up
Speaker 1: with thirty eight year old inmate Casey White. The two
Speaker 1: are not related, but had what Sheriff Rick Singleton calls
Speaker 1: a special relationship. My master, Ruby, Vicky, You've been in
Speaker 1: this business for seventeen years. You've seen this scenario play
Speaker 1: out more than once, and you have always ends. Go
Speaker 1: ahead and end it now, you know, get get a
Speaker 1: phone call nine one one, Uh turn yourself in. Sheriff
Speaker 1: Singleton says, Vicky White had an unblemished record Global News
Speaker 1: twenty four hours a day on air and on Bloomberg
Speaker 1: Quick Take Power by more than the twenty seven hundred
Speaker 1: journalists analysts more than a hundred twenty countries. Michael bar
Speaker 1: this is Bloomberg. Nathan, thanks Michael. Just about six thirty
Speaker 1: six on Wall Street and John stash Ower has the
Speaker 1: Bloomberg Sports Update, Nathan. Yankees and Mad's both offs of
Speaker 1: such great starts, but both lost. Yankees in Toronto to
Speaker 1: the one that ends the eleven game win straight. Yanks
Speaker 1: had only five hits, Blue Jays had only four. Aaron
Speaker 1: Boone not around for the end of the game, ejected
Speaker 1: after really getting into it with played umpire Marty Foster.
Speaker 1: The Yanks did not like some of his calls, especially
Speaker 1: in two of Aaron Judges at bats, Judge led Boone
Speaker 1: to the argument, you know, get a little I rate
Speaker 1: and maybe you know from my helmets, say suth him
Speaker 1: to him after the fact. But there's no need. You know,
Speaker 1: we got a lot of ball game off to play,
Speaker 1: and I know I'm gonna get another at bat and
Speaker 1: me and tossing up for somebody else at risk, and
Speaker 1: you know, going there, it's not ready, you know. So
Speaker 1: that's all we got. Andrew Bony stuck up for us tonight.
Speaker 1: As for the Mets, they failed to Atlanta nine to two.
Speaker 1: The Bradins finally got to Tyler McGill with seven runs
Speaker 1: in the six Deny mcgills first lost the year, the
Speaker 1: first series the Mets have failed to win there. In
Speaker 1: Philadelphia tonight, the Yankees are off NBA philos Phoenix shot
Speaker 1: sixty five percent, beat Dallas by twenty. Miami me Philadelphias
Speaker 1: and the Sons and heat I broke up to nothing.
Speaker 1: Stanley Cup Playoffs, Carolina went up to zip on, Boston,
Speaker 1: Tampa Bay, Minnesota, and Edmonton all one to tie their
Speaker 1: series at one. And that's what the Rangers will look
Speaker 1: to do tonight. Game two at the Garden after the
Speaker 1: Penguins Game one win in triple overtime, big comeback in
Speaker 1: the Premier League semifinal, Real Madrid beat Manchester City will
Speaker 1: now play Liverpool for the championship. The Giants learning they'll
Speaker 1: take on Green Bay October nine in London. That's one
Speaker 1: of three NFL games to be played in London. They'll
Speaker 1: be one in Mexico City, and for the first time
Speaker 1: ever a game in Germany. That'll be Tampa Bay Vers
Speaker 1: in Seattle. John stash were Bloomberg Sports na All right, John,
Speaker 1: thanks sixty seven on Wall Street. It's time to take
Speaker 1: a look down at stocks and some of the names
Speaker 1: moving in the pre market as we continue following the
Speaker 1: market reaction to the FED. Let's look under the hood
Speaker 1: now with Bloomberg Radio and TV Markets correspondent Creating Gooped.
Speaker 1: What names have your eye this morning, Creaty Nathan. We're
Speaker 1: gonna stick with a theme that we're talking about yesterday,
Speaker 1: Uber Lift really getting punished yesterday. Today it's a different
Speaker 1: set of growth names. Out of course, is eBay and
Speaker 1: Etsy both reporting earnings, both getting punished for it. Let's
Speaker 1: start with eBay here e b a wiser taker down
Speaker 1: seven per cent this comes after they had a lackluster
Speaker 1: sales and profit outlook for the second quarter, really kind
Speaker 1: of emphasizing the fact that that pandemic driven sales bump, well,
Speaker 1: it's fading now as you start to see perhaps lack
Speaker 1: of of continued stimulus, but also this idea that how
Speaker 1: many people are still shopping online as opposed to perhaps
Speaker 1: going more in store. So eBay getting a little bit
Speaker 1: hurt from that. Analysts though, saying macro head was including
Speaker 1: the war in Ukraine, inflation, and consumer confidence are all
Speaker 1: likely to pressure the results in the near term. So
Speaker 1: not a great vote of confidence for eBay, but and etc.
Speaker 1: I should say, in the same boat E T. S
Speaker 1: Y S R taker down this morning, Nathan. Their second
Speaker 1: quarter forecast fell short of the average analyst estimate as well. Analysts,
Speaker 1: I mean, they were positive on the firm's results, but
Speaker 1: they once again reiterated what they said about eBay as well,
Speaker 1: saying that the challenges relating to the macro economic backdrop
Speaker 1: is a real problem. Nathan, we heard about this yesterday,
Speaker 1: are very youn Michael McKee asking Chare Powell, what is
Speaker 1: the average American consumer are going to think when they
Speaker 1: hear about this fifty basis point rate hike, and he said, well,
Speaker 1: you know what, we're tackling inflation. But yes, we are
Speaker 1: concerned about the consumer and the ability to weather the storm. Yeah,
Speaker 1: and thinking about inflation creatia. Look at oil prices, how
Speaker 1: gas prices have surged. Interesting that you're keeping an eye
Speaker 1: this morning on renewable companies. Yeah, they're doing really well.
Speaker 1: And it's interesting that you connected to the to the
Speaker 1: oil stuff because we were talking about oil rising. Perhaps
Speaker 1: on the back of this new sanctions ban as the
Speaker 1: you start to look at sanctioning oil and banning imports
Speaker 1: from Russia by the end of the year. Perhaps that's
Speaker 1: flowing a little bit into the e V space, the
Speaker 1: renewable space. But so are the earnings pictures are very
Speaker 1: clearly a micro fundamental driver as while Sun run, for example,
Speaker 1: are u n as your taker up nine percent this morning.
Speaker 1: This is a solar energy company. They reported first quarter
Speaker 1: revenue beating expectations and get this, Nathan, they raised their
Speaker 1: full year outlook. They're expecting more and more solar energy demand.
Speaker 1: A similar story when it comes to album Moral a
Speaker 1: LB is your taker up fourteen percent. This is one
Speaker 1: of the main companies I want to say one of
Speaker 1: the only companies in the world that makes kind of lithium,
Speaker 1: and lithium of course is used for the battery business
Speaker 1: for e VS. Uh, so this is really seen as
Speaker 1: kind of in line with that e V renewable kind
Speaker 1: of trade. So Album Marshall, Albert Marral excuse me a
Speaker 1: l B A fourteen percent after the company boosted their
Speaker 1: profit as sales guidance for the signing continued strength in
Speaker 1: lithium pricing once again off the back of that EV demand. Alright.
Speaker 1: Bloomberg Radio TV Markets correspondent Crep with us this morning.
Speaker 1: As we look at the broader picture ahead of the open.
Speaker 1: Futures are moving lower with SMP futures down twenty three points,
Speaker 1: staff futures down a hundred, twenty six down, NASTEC futures
Speaker 1: down seven points, the tenure treasury down five thirty seconds
Speaker 1: the yield. This is Bloomberg Bloomber eleven three oh weather.
Speaker 1: Looking for sunshine today and highs in the low seventies.
Speaker 1: Scattered showers possible tomorrow, low sixties. It'll be breezy and
Speaker 1: cooler Saturday, with a high near fifty five degrees. Right
Speaker 1: now fifty seven in Central Park, markets, headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape. He's
Speaker 1: He's a Bloomberg Business Flash and I'm Karen Moscow. This
Speaker 1: update brought to you by the n Y Mellin's Furishing
Speaker 1: learned why the world's most sophisticated wealth management and institutional
Speaker 1: firms rely on Pershing to help them improve profitability, create efficiency,
Speaker 1: attract talent, and manage risk at Pershing dot Com. US
Speaker 1: dot index futures are following this morning. Let's go to
Speaker 1: the First Word Breaking news desk for today's morning call,
Speaker 1: and here's Bill Maloney. Bill, Good morning, Hey, good morning, Karen.
Speaker 1: That's right. US futures are in the red after yesterday's
Speaker 1: FED induced rally. To futures currently down a hundred and
Speaker 1: fifty points, SYS to be dropped twenty six. Nastic futures
Speaker 1: are lower by a hundred and three. The US A
Speaker 1: ten years at two point nine five percent, Gold is
Speaker 1: up sixteen, Oil is training higher, but bitcoin is down
Speaker 1: by point eight percent. Shanghai rose point seven percent overnight,
Speaker 1: while up markets are in the green with one percent gains.
Speaker 1: Across the board. Back in the US on the economic
Speaker 1: Friday eight thirty initial jobs claims and after the bellast night,
Speaker 1: eBay gave a week outlook. Shares a down seven percent
Speaker 1: pre market and deal news people familiar said that Max
Speaker 1: Linear isn't talks to buy chipmaker Silicon Motion. In other news,
Speaker 1: Berkshire Hathaway bought more occident All stock, rabbing things up.
Speaker 1: A Spirit Therapeutics was raised to neutral over at JP
Speaker 1: Morgan Live from the first breaking news dist coom to
Speaker 1: Maloney care right, Bill, thank you to here in live
Speaker 1: breaking news over your Bloomberg type squawk on your terminal
Speaker 1: squ a w K and that's a Bloomberg business flash.
Speaker 1: Now here's Michael Barr with more on what's going on
Speaker 1: around the world. Michael Karen, thank you very much. Overnight,
Speaker 1: crews set up security fencing around the U s Supreme
Speaker 1: Court complex for demonstrations today. It comes amid tentions after
Speaker 1: this week's leak of a draft opinion that would likely
Speaker 1: overturn Roe v. Wade. There are new developments in the
Speaker 1: war in Ukraine nearing in eleventh week. Russia appears to
Speaker 1: be targeting key infrastructure to stop the flow of military
Speaker 1: aid that has been coming into Ukraine. In baseball, the Yankees, Mets,
Speaker 1: Red Sox, Nationals, A's, and Giants all lost the Orioles one.
Speaker 1: In the NHL Playoffs, the Rangers play Game two of
Speaker 1: their series against the Penguins tonight. The Bruins lost to
Speaker 1: the Hurricanes. Carolina now leads that series two games to ZIP.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred
Speaker 1: journalist and analysts in more than a hundred twenty countries
Speaker 1: on Michael Barr This is Bloomberg. The following commentary is
Speaker 1: from Bloomberg Opinion. I'm Jonathan Bernstein, a columnist for Bloomberg Opinion.
Speaker 1: Score one for Donald Trump. His endorsed candidate, Jade Vance
Speaker 1: won the Republican Senate primary in Ohio. This kind of
Speaker 1: election is where an endorsement is most likely to matter.
Speaker 1: A large field primary of well funded candidates with little
Speaker 1: to differentiate them. That's where great ads, debate gaffs, clever attacks,
Speaker 1: or attention driving endorsements can move lots of voters quickly. Meanwhile,
Speaker 1: see a pair of House Ohio primaries for further evidence
Speaker 1: of party differences. In one, a Democratic can come and
Speaker 1: soundly defeated a Bernie supporting radical who most party actors
Speaker 1: considered ill suited for office. In another, Republicans in a
Speaker 1: competitive district dominated a candidate whose main claim to fame
Speaker 1: seems to have been that he painted his lawn for
Speaker 1: Trump over two better known state legislators. Very liberal or
Speaker 1: very conservative members of Congress are fine. The problem is
Speaker 1: politicians who have no interest in governing, opposed compromising principle,
Speaker 1: and see elected office mainly as a means of catching in,
Speaker 1: And too many Republican nominees unfortunately fit into one or
Speaker 1: more of those categories. I'm Jonathan Bernstein. For more opinion,
Speaker 1: please go to Bloomberg dot com, slash opinion or opi
Speaker 1: and go on the Bloomberg terminal. These has been Bloomberg
Speaker 1: Opinion and Bloomberg Opinion commentaries can be heard every weekday
Speaker 1: at this time and terminal customers can read more at
Speaker 1: O P I N go. It is six fifty on
Speaker 1: Wall Street. We turned to news and science and technology
Speaker 1: now with the Bloomberg and j I T. STEM Report.
Speaker 1: It is brought to you by New Jersey Institute of
Speaker 1: Technology and j i T is dedicated to bolstering support
Speaker 1: for female and minority students pursuing careers and high paying
Speaker 1: STEM industries. Learn more at n j I T dot
Speaker 1: edu and now Here's just making news in science, Technology, engineering,
Speaker 1: and math. California, which has an economy larger than all
Speaker 1: but four countries and where much of the world's technological
Speaker 1: innovation is born, has become the first state to formally
Speaker 1: begin examining how to broadly adapt a cryptocurrency and related innovations.
Speaker 1: Governor Gavin Newsom signed an executive order for state agencies
Speaker 1: to move in tandem with the federal government to craft
Speaker 1: regulations for digital currencies. It also calls for officials to
Speaker 1: explore incorporating broader blockchain computer coding into the government operations.
Speaker 1: China's beating up restrictions in Beijing and continuing a punishing
Speaker 1: lockdown in Shanghai. Officials in Shanghai say they won't ease
Speaker 1: the restrictions until the number of cases in the community
Speaker 1: reached zero for three days in a row. The tomp
Speaker 1: Us infectious disease. Doctor Anthony Fauci criticized the Chinese approach
Speaker 1: as ineffective and the price of weed gained the most
Speaker 1: in more than three weeks. One of the world's largest exporters, India,
Speaker 1: is considering whether to restrict shipments at a time when
Speaker 1: there's growing concern about a food crisis. A heat wave
Speaker 1: is hurt Indian crops this spring. That's the Bloomberg and
Speaker 1: j I. T Stem Report. Nathan Okay, Karen Thanks, rely
Speaker 1: from the Bloomberg Interactive Broker's studios where it's six fifty
Speaker 1: two on Wall Street Time now to check what's going
Speaker 1: on in d C. Some of the top stories in
Speaker 1: our nation's capital include abortion rights groups seeing donation surge
Speaker 1: after the Supreme Court leak, the US giving security assurances
Speaker 1: to Sweden and Finland on their road to NATO, and
Speaker 1: Donald Trump Junior testifying before the January six Committee in
Speaker 1: the House. For more, we're joined by Bloomberg Government Congressional
Speaker 1: reporter Jack Fitzpatrick. Jack, good morning. Obviously, besides the FED move,
Speaker 1: the abortion rights story continues to unfold in Washington, DC,
Speaker 1: and now we're starting to see that play out when
Speaker 1: it comes to advocates getting money. That's right, Yeah, this
Speaker 1: is the big story in Washington, and yes, it's it's
Speaker 1: a bit of a confusing story in Congress because there's
Speaker 1: only so much Democrats can do in response to this
Speaker 1: draft ruling out of the Supreme Court. So top Democrats,
Speaker 1: especially in the Senate, who are in this week, have
Speaker 1: said a lot of this comes down to November and
Speaker 1: mobilizing their supporters in the mid of elections. Uh. It
Speaker 1: is probably a positive sign for them that there's a
Speaker 1: large amount of money going to advocacy groups. Uh near all.
Speaker 1: Pro Choice America said it had gotten a one thousand,
Speaker 1: four hundred three percent increase in donations after the publication
Speaker 1: of that draft ruling. There's more money going to Act Blue,
Speaker 1: the Democratic fundraising platform probably should keep in mind. Uh.
Speaker 1: You know, there may be limits to how much Democrats
Speaker 1: can gain. You look at the election and college educated
Speaker 1: women came out big four Democrats already. But it is
Speaker 1: at least uh sort of good news for Democrats looking
Speaker 1: forward to November, given the the amount of mobilization we've
Speaker 1: seen among people who are frustrated with this draft ruling,
Speaker 1: and that really is what Democrats are banking on is
Speaker 1: a response in the November midterms. It does really raise
Speaker 1: the question, though, doesn't it jack whether this issue can
Speaker 1: continue to be kept up in terms of momentum when
Speaker 1: for a lot of or as you would imagine that
Speaker 1: if inflation continues to be an issue, that that could
Speaker 1: be driving them to the polls as well. Yes, and
Speaker 1: if you listen to the issues that the President has
Speaker 1: been speaking on, you get sort of you can take
Speaker 1: the temperature of which issues are the most motivating. Uh.
Speaker 1: President Biden really has talked about the economy, seeking to
Speaker 1: address concerns that people have with inflation, obviously frustration over
Speaker 1: the continuation of somewhat of a pandemic mindset, the sort
Speaker 1: of conflicting responses we've seen from the federal government in
Speaker 1: terms of mask mandates being pulled away, and exactly what
Speaker 1: our stances on that it's There is a widespread expectation
Speaker 1: in Washington, including among some Democrats I've talked to, that
Speaker 1: Republicans have a clear advantage heading towards the mid terms. Uh.
Speaker 1: And really this abortion issue is a hope that Democrats
Speaker 1: have to mobilize their their voters. But you're right, is
Speaker 1: a lot of time left between now and November, and
Speaker 1: I know the war in Ukraine is also a major
Speaker 1: issue in focus for the Biden administration. There was a
Speaker 1: meeting between the Secretary of State and the Foreign Minister
Speaker 1: of Sweden when came out of that. Yes, so Sweden's
Speaker 1: foreign minister actually said following that she got assurances. These
Speaker 1: are not security guarantees, but security assurances in the case
Speaker 1: of Russian aggression towards Sweden. And really this stands in
Speaker 1: the context of Sweden and Finland. Finland having those concerns. UH,
Speaker 1: there's the process of these countries applying for natoship. Finland
Speaker 1: is expected to apply for natoship May seventeenth. The timing
Speaker 1: on Sweden is not exactly the same. UH. That would
Speaker 1: allow the US to do a lot more. The US
Speaker 1: is very hesitant, as we've seen in Ukraine, to get
Speaker 1: involved militarily in response to Russian aggression if it's not
Speaker 1: a NATO country. But there's still were assurances made that
Speaker 1: would UH. In the words of Sweden's foreign minister, it
Speaker 1: would be clear to Russia that if they conduct negative
Speaker 1: activities towards Sweden. UH, then as she said, the U
Speaker 1: S would not let that pass unnoticed. So clearly the
Speaker 1: US is trying to offer a supportive stance to these countries.
Speaker 1: In our last minute, here Jack, another member of former
Speaker 1: President Trump's family has gone before the January six Committee. Yes,
Speaker 1: this time, Donald Jump Donald Trump Junior has interviewed with
Speaker 1: the January sixth Committee. UH notable among the many Trump
Speaker 1: administration officials and close personal connections to the former president. UH.
Speaker 1: And keep in mind that his fiance, also, Kimberly Gilfoyle,
Speaker 1: already had testified last month. The committee has already made
Speaker 1: clear also that it has texts in which Donald Trump
Speaker 1: Junior was telling Mark Meadows, then the chief of staff,
Speaker 1: that there needed to be a stronger response from his father.
Speaker 1: He actually called in those text messages for an overall
Speaker 1: oval address on January six, So in these the testimony
Speaker 1: may have centered around some of those issues that the
Speaker 1: committee already had revealed in text messages. Jack Fitzpatrick, Bloomberg Government.
Speaker 1: Thanks for the update from the nation's capital, and you
Speaker 1: can read more about these stories on Bloomberg dot com
Speaker 1: or on the Bloomberg terminal. Listen to Bloomberg Radio in
Speaker 1: Washington Bloomberg and one oh five point seven FM HD two.
Speaker 1: Looking ahead to the market, open futures are moving lower
Speaker 1: after the rally following the Fed decision. We have SMP
Speaker 1: futures down twenty nine points down futures down a hundred
Speaker 1: seventy six Nastack futures down a hundred seventeen points. A
Speaker 1: Bank of England decision just a few minutes away. More
Speaker 1: to come on Bloomberg Surveillance with Tom Keene, Jonathan Pharaoh,
Speaker 1: and Lisa Brahmowitz for Karen Moscow. I'm Nathan Hager. This
Speaker 1: is Bloomberg