Speaker 1: Live from the Bloomberg Interactive Berger Studios. Is this Bloomberg
Speaker 1: Daybreak for Tuesday, December twenty seven, twenty two. Coming up,
Speaker 1: the shower stocks in China gain as the country continues
Speaker 1: to roll back COVID measures that's helping to lift US
Speaker 1: futures as we close out the last trading week of
Speaker 1: the year, and President Biden declares an emergency in the
Speaker 1: state of New York because of the winter storm. New
Speaker 1: York GOP Representative Alex Santos admits he lied about its
Speaker 1: job experience. Plus Democrats called Texas Governor Rabbit's actions on
Speaker 1: migrants of dangerous stunt. I'm Michael Barr more ahead, I'm
Speaker 1: John Stashow in Sports Red Hot, and that's been at
Speaker 1: nine wins in a row with a win in Cleveland.
Speaker 1: Mike White is back, is the Jets starting quarterback. That's
Speaker 1: all trended ahead on Bloomberg day Break on Bloomberg. He
Speaker 1: liveing free on New York, Bloomberg one, Washington, d C,
Speaker 1: Bloomberg one, O six one, Boston, Bloomberg nine sixty, San Francisco,
Speaker 1: Sirius x AM one nineteen and around the world on
Speaker 1: Bloomberg Radio dot Com and via the Bloomberg Business app. Hey,
Speaker 1: good morning, I'm John Tucker and I'm Karen Moscow. US
Speaker 1: not Index Future is on the rise this morning, and
Speaker 1: we checked the markets all day long here on Bloomberg.
Speaker 1: Right now, SMP futures are up twenty five points, up
Speaker 1: almost seven tenths of uppercent. Down future is up six
Speaker 1: tents of upper center two hundred fifteen points, and now's
Speaker 1: dead future is up half percent or fifty eight points.
Speaker 1: The decks in Germany up about eight tens of percent. Ten,
Speaker 1: Your treasury down seven thirty seconds. Yell three point seven
Speaker 1: seven percent. They yield on the two year four point
Speaker 1: three three percent. Nine back screw oil is up one
Speaker 1: percent or eighty one cents at eighty dollars thirty seven
Speaker 1: cents of barrel. Comex gold up seven tenths percent or
Speaker 1: twelve dollars thirty cents at eighteen sixteen fifty. Announced the
Speaker 1: euro one point six six five against the dollar, then
Speaker 1: one thirty three point three to John and Karen as
Speaker 1: we wait firstock to again trading here in the US
Speaker 1: on the short and trading week. Equities in Asia are hire.
Speaker 1: China continues to roll back COVID measures and that's boosting
Speaker 1: sentiment in the region. Let's get the recap from Bloomberg
Speaker 1: Daybreak Asia anchor Brian Curtis. In Hong Kong, Asian stocks
Speaker 1: powered higher on the China news of ditching quarantine rules.
Speaker 1: Traveling consumer good stocks jumped. It was a risk on day,
Speaker 1: with US and European equity futures also higher and the
Speaker 1: dollar lower. Investors also embraced the cooling of a key
Speaker 1: inflation measure in the United States. Oil and gold also bounced.
Speaker 1: Indexes of US, Asian and global stocks still remained down
Speaker 1: about this year. It's the worst annual performance since two
Speaker 1: thousand and eight. In Hong Kong, Brian Curtis, Bloomberg Daybreak,
Speaker 1: Brian thanks well on geo political news, US China tensions
Speaker 1: are in focus again. The US is criticizing Beijing's military
Speaker 1: drills near Taiwan. This week. The National Security Council called
Speaker 1: the exercises provocative and said it will continue to help
Speaker 1: Taiwan defend itself. Last week, US lawmakers agreed to a
Speaker 1: spending bill that included two billion dollars in web been
Speaker 1: funding for Taiwan and back here in New York, Karen
Speaker 1: Nasty bout of winter weather has resulted in twenty eight
Speaker 1: deaths and crippled parts of the state, and Unpresident Biden
Speaker 1: has approved a disaster declaration in New York. Let's get
Speaker 1: more of the story from Bloomberg's Michael Barr. The Buffalo
Speaker 1: area got at least four ft of snow and more
Speaker 1: is expected today. New York Governor Kathy Hunkel, we have
Speaker 1: been to a lot of wars together, and this blizzard
Speaker 1: is the one for the ages. Certainly, it is the
Speaker 1: blizzard of the century. Those who died around Buffalo were
Speaker 1: found in cars, homes, and snowbanks. Some died while shoveling snow.
Speaker 1: Buffalo Mayor Byron Brown says they are also dealing with
Speaker 1: power outages and lack of heat. I myself and my
Speaker 1: family were without power. I can tell you at one
Speaker 1: point the temperature in our home got down to about
Speaker 1: forty degrees. It was very uncomfortable. We had to layer up.
Speaker 1: Mayor Brown says some people that have been with out
Speaker 1: powers since Friday in New York. Michael Barr Bloomberg Daybreak, Grey, Michael,
Speaker 1: thank you for the bad weather across the country, also
Speaker 1: hitting air travel hard. Let's get that part of the
Speaker 1: story Live with Bloomberry Steve Rappaport, Steve, good morning, Good morning,
Speaker 1: Karen and John. Airlines are scrambling to catch up after
Speaker 1: a winter storm canceled thousands of flights during the Christmas
Speaker 1: travel rush. The flight tracking website flight of Where shows
Speaker 1: more than twenty eight hundred flights grounded today. Southwest was
Speaker 1: the worst hit, accounting for nearly seventy of cancelations nationwide. Yesterday,
Speaker 1: Southwest Senior director Jim McVeigh, as the storm continued to
Speaker 1: sweep across the country, the cancelations just compiled one after another,
Speaker 1: and as a results, we end up with flight cruise
Speaker 1: and airplanes that are out of place and not in
Speaker 1: the cities that they need to be in to continue
Speaker 1: to run our operations. McVeigh says the airline is doing
Speaker 1: everything it can to write the current challenges. Southwest stock
Speaker 1: is down about three percent in pre market trading live
Speaker 1: in New York. I'm Steve Rappaport, Bloomberg Daybreak. All right, Steve,
Speaker 1: thanks and turning back to the markets. We're closing out
Speaker 1: the last trading week of a dismal year for equities.
Speaker 1: The SB downboard in harder hit has been the tech
Speaker 1: heavy Danstac, which has lost a third of its value.
Speaker 1: John Golloby is the chief US equity strategist at Credit Sweetz.
Speaker 1: I think that this problem that we've had in tech
Speaker 1: is not a sentiment problem. It's an earnings problem. And
Speaker 1: it doesn't last for three or four quarters. It last
Speaker 1: for six or eight quarters. And a lot of these
Speaker 1: big tech companies that two or three years ago we
Speaker 1: said they have modes, they're impenetrable, and we talked in
Speaker 1: those terms. Um, a lot of those companies are are
Speaker 1: getting closer to total addressable market, whether that's in handsets
Speaker 1: or advertising or other things like that. And it's Jonathan
Speaker 1: gollobit Credit Sweezy thinks the resilient consumer will keep the
Speaker 1: US out of a recession well once a pandemic. Darling
Speaker 1: Peloton disappointed investors last month with the holiday forecast that
Speaker 1: missed estimates. Now it has a new plan to help
Speaker 1: re coop some of those losses. When we get the
Speaker 1: details from Bloomberry's Erica her Schooitz. Peloton released the statement Monday,
Speaker 1: saying it will begin offering refurbished bikes at discounts of
Speaker 1: up to five hundred dollars below new model prices. The
Speaker 1: price tag on a certified refurbished model will range from
Speaker 1: eleven dollars that's three hundred to five hundred dollars below
Speaker 1: current prices. The refurbished bikes come with the same twelve
Speaker 1: month limited warranty as the new ones and include delivery
Speaker 1: and set up. The company's all Access membership is sold separately.
Speaker 1: Shares a peloton or down this year. Erica Schuwitz, Bloomberg Radio,
Speaker 1: Thanks Erica. Shares of the AMC Entertainment continuing their slide
Speaker 1: this morning. They're down another seven percent, enter falling on
Speaker 1: Thursday and Friday. The company is proposing to convert preferred
Speaker 1: equity units into common shares along with a ten to
Speaker 1: one reverse stock split. Again, futures are on the rise
Speaker 1: this morning. Straight ahead, we have your latest local headlines,
Speaker 1: plus a check of sports, and this is Bloomberg. Karen,
Speaker 1: thanks six or seven of Wall Street. Time to bring
Speaker 1: in Michael Barr with Moura what else is going on
Speaker 1: to New York and around the world. Thank you very much, sir.
Speaker 1: Representative Elect George Santos of New York admitted that he
Speaker 1: lied about his job experience and college education during a
Speaker 1: successful campaign for a seat in the US House. In
Speaker 1: an interview with The New York Post in w ABC radio,
Speaker 1: the Long Island Republicans said, my sins here are embellishing
Speaker 1: my resume. I'm sorry. A lot of people over stayed
Speaker 1: in their resumes or um twist a little bit or
Speaker 1: an ingran jate themselves. I'm not saying I'm not guilty
Speaker 1: of that. I'm just saying I've done so much good
Speaker 1: work in my career. The New York Times raised questions
Speaker 1: last week about the life story that Santos had resented
Speaker 1: during his campaign, including that he worked for City Group
Speaker 1: and Goldman Sachs. Neither company could find any records verifying
Speaker 1: that Ian Connecticut at two year veteran of the North
Speaker 1: Haven Fire Department has died from injuries he sustained while
Speaker 1: working ablaze at a four family home. The department identified
Speaker 1: the firefighters forty six year old if Mattheist Wurtz. The
Speaker 1: Connecticut State Police are investigating the cause of the blaze,
Speaker 1: which displaced thirteen residents on Christmas night. The Biden administration
Speaker 1: is accusing Texas Governor Gregg Abbot of endangering lives all
Speaker 1: in the name of politics. Three buses of migrants traveled
Speaker 1: from Texas and were left in the bitter cold outside
Speaker 1: the Vice President's official residents. Ukraine's foreign minister has said
Speaker 1: his nation wants a summit to end the war, but
Speaker 1: he doesn't anticipate Russia taking part. Dmitro Kuleba says that
Speaker 1: his government wants a peace summit within two months at
Speaker 1: the United Nations with Secretary General Antonio Guterres as mediator.
Speaker 1: Every war ends as a result of uh the actions
Speaker 1: taking at the battlefield and at the negotiating tame table.
Speaker 1: But the balance of what will be one on the
Speaker 1: battlefield and what will be one at the table it
Speaker 1: remains to be seen. Foreign Minister Goliba also told the
Speaker 1: Associated Press that Russia must face a war crimes tribunal.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than journalists and analysts
Speaker 1: in more than a hundred twenty countries. Michael Barr and
Speaker 1: this is Bloomberg, John, Michael, thank you six Tama Will
Speaker 1: Street and signed out for the Bloomberg Sports updates being
Speaker 1: brought to you by your try State Alley Dealer. And
Speaker 1: Good morning, John stash Ower, Good morning, John Tucker. Jets
Speaker 1: have four quarterbacks. They've used all four. They started three.
Speaker 1: Zach Wilson's gone from first string down to third, then
Speaker 1: after second back to first. Now he's back to third stringer.
Speaker 1: Maybe it's fourth, but he'll be inactive with the Jets
Speaker 1: Sunday in Seattle. Mike White has recovered from those injured ribs,
Speaker 1: so he'll start with Joe Flacco the backup, and Jets
Speaker 1: coach Robert Salah was af our things stand with Wilson.
Speaker 1: Still think he's got a future here. I still think
Speaker 1: he's gonna be a really good quarterback. Uh. He just
Speaker 1: he needs time to just kind of sit back and
Speaker 1: continue the development that we're trying to rekick start, if
Speaker 1: you will, after the New England game. But I still
Speaker 1: have him in our future, in our in our plans.
Speaker 1: This runs contrary to report on Fox and the Jets
Speaker 1: and decided to move on from Wilson after this season.
Speaker 1: The Colts, with their third different starting QB and one
Speaker 1: time Super Bowl hero Nick Foles through three interceptions the
Speaker 1: Chargers one three that clinches an a f C wild
Speaker 1: card for the Chargers, so there's one a f C
Speaker 1: spot remaining with Miami, leading the Jets, Patriots, and Steelers
Speaker 1: by one game. Dolphins qb to a ton of belowas
Speaker 1: and concussion protocol as he was earlier this season. The
Speaker 1: Giants were watching that game last night because they host
Speaker 1: Indianapolis on Sunday. At Giants win and they're in the playoffs.
Speaker 1: Denver at four and eleven just lost by thirty seven.
Speaker 1: The Broncos fired coach Nathaniel Hackett. Ninth grade win for
Speaker 1: the Red Hot Nets. Both Kevin Durant and Tyby Irving
Speaker 1: scored thirty two. T J Warrent off the bench for
Speaker 1: twenty three seventeen win in Cleveland and has the Nets
Speaker 1: only two games at the first place in the East.
Speaker 1: Nick looked into three game losing streak tonight there in
Speaker 1: Dallas the Rangers at home for Washington. John Stash with
Speaker 1: Bloomberg Sports. John all right, John, thanks very much, and
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Speaker 1: of the cash Open on Wall Street this Tuesday morning
Speaker 1: after the holiday. Dal fustres right now two eleven points higher.
Speaker 1: That's up six tenths of eight percent. Smp E Mini
Speaker 1: futures twenty five points higher, that's up seven tenths of
Speaker 1: a percent. And they's a heavy DAS deck futures sixty
Speaker 1: points higher right now. That is up six tenths of
Speaker 1: a percent. The ten year yield was at three seventy seven.
Speaker 1: The two year yield was at four thirty four. You're
Speaker 1: listening to Bloomberg Daybreak live from coast to coast, from
Speaker 1: New York to San Francisco, Boston to Washington, d C.
Speaker 1: Nationwide on Sirius Examp, the Bloomberg Business app, and Bloomberg
Speaker 1: dot Com. This is Bloomberg Daybreak, and good morning. I'm
Speaker 1: John Tucker. Well two. It's been something of a horror
Speaker 1: show for technology stocks. Tech having NASTAC is down thirty
Speaker 1: three percent since the start of the year. And what
Speaker 1: is the path I've had? Who better to ask than
Speaker 1: the Dana Eyes, Managing director at Wedbush Securities. Dan, thanks
Speaker 1: very much for joining us this morning. What is the
Speaker 1: outlook for tech stocks in book? It's obviously been a
Speaker 1: disaster year for attacking two thousand twenty two, and I
Speaker 1: think going two thousand, clearly sentiment continues to be negative,
Speaker 1: but we take a little more contrary of view. I
Speaker 1: think a lot of the bad news they didn't attack.
Speaker 1: I think a lot of these stocks are oversold, and
Speaker 1: ultimately we leave tech stocks will be up about two three.
Speaker 1: Can you characterize the sell off of the space as indiscriminate. Yeah,
Speaker 1: I'd say it's all been painted with the same brush.
Speaker 1: I mean, with the FED continue to go aggressive on hikes,
Speaker 1: you've really seen just a massive risk off across the board. Now,
Speaker 1: a lot of the COVID beneficiaries and some of you
Speaker 1: know that the would I'll say, the names that really
Speaker 1: saw the benefit do a stocks. Some of those are down.
Speaker 1: But when you look at Big Tech, I think the
Speaker 1: difference now is that you're starting refiners see cracks in
Speaker 1: the armor in terms of growth, and I think that's
Speaker 1: why Big Text sold off as well as what you've
Speaker 1: seen in terms of China and some of the supply
Speaker 1: chain issues. Really it was a perfect storm. Protect we
Speaker 1: do not expect the same repeat in two thousand three,
Speaker 1: So it was more of a just a sentiment problem.
Speaker 1: Was it was an earnings problem as well. I think
Speaker 1: about seventy of it, which is multiple compression fed driven
Speaker 1: the ten year and basically no matter what, the risk
Speaker 1: off asset really got thrown out the window. But I
Speaker 1: think over the last few months you've started to see
Speaker 1: going into what looks like a very softer macro, some cracks,
Speaker 1: specifically more in consumer tech. I think social media really
Speaker 1: for intandin you saw that with Meta. You've seen that
Speaker 1: also in digital advertising with delights of Google and others.
Speaker 1: And enterprise is actually held up extremely well. But I
Speaker 1: think investors overall it's a white knuckles going two thousand
Speaker 1: twenty three, and in my view it's as under earned
Speaker 1: as i've seen the tech sector. These two thousand nine
Speaker 1: are the evaluations very attractive. At this point, look, evaluations
Speaker 1: and tech are below their five year mean. So even
Speaker 1: when you take out that sort of COVID eighteen months,
Speaker 1: you know what we could call it a bubble that
Speaker 1: ultimately formed, we're way below that. I mean, we're starting
Speaker 1: a back to seventeen level, the e teen levels in
Speaker 1: terms of from a growth perspective, and I think right
Speaker 1: now investors have started to beakon into a lot of
Speaker 1: these numbers that that's you know, earnings still could come
Speaker 1: down further, but I think a lot of that has
Speaker 1: already factored in. And when I look at big tech,
Speaker 1: the legs of a Microsoft and Amazon and Google, you
Speaker 1: look at shiber security as a subsector, I believe there's
Speaker 1: gonna be pillars of strength in tech. And it goes
Speaker 1: back to you when you come out of the last
Speaker 1: called dot com bubble and burst oh eight or nine,
Speaker 1: the best opportunities, the golden opportunities, were coming out of
Speaker 1: those carnages. And I think that's what we're going into
Speaker 1: in two thousand. Yeah, I mean to preserve the margins
Speaker 1: um tech companies that they could continue to shift focus
Speaker 1: on some of the operational discipline that we've seen, i e.
Speaker 1: Layoffs well tech companies. If you look at the last
Speaker 1: four or five years, a lot of them, I mean
Speaker 1: they were spending money like nineties rock stars, so sometimes
Speaker 1: increasing fifteen workforce per year. And I think during KOVID
Speaker 1: you saw a huge pull forward that said, I mean
Speaker 1: the clock struck midnight. So now you're starting to see
Speaker 1: layoffs across tech. But I also do think that in
Speaker 1: a wild of non strategic areas, and I think strategically
Speaker 1: areas like cloud, digital advertising, others, you're gonna continue see
Speaker 1: growth as well as M and A. But I think
Speaker 1: this is really just after being tefarn like the last decade,
Speaker 1: texts finally started see some softness and that's why you've
Speaker 1: seen the laps. Accordingly, hey, can you call a bottom
Speaker 1: for Let's get some of the individual names. Tesla stock
Speaker 1: this year is a Tesla they've taken on a dive
Speaker 1: this year. Yeah, and a lot of that, I'd say
Speaker 1: the vast majority is must Twitter driven there and because
Speaker 1: of that fiasco train rec situation with Twitter, that's really
Speaker 1: been the major overhanging on Tesla. And we do believe
Speaker 1: Tesla stock is ultimately oversold here. But but a lot
Speaker 1: of this is really how much Candles is going forward?
Speaker 1: Does you get a CEO in the sooner arriving later
Speaker 1: of Twitter and ultimately when it comes to electric vehicles,
Speaker 1: I mean, Tessa continues to really be the market share leader.
Speaker 1: I just think that continues to be a name where
Speaker 1: Must ultimately really determines what's going to happen here. We
Speaker 1: do believe that you know, the bottom is likely and
Speaker 1: intention Dan i'ms the managed director at web Bush Security
Speaker 1: is taking a look at some of the tech names
Speaker 1: this morning. For us in the overall market, Dan's gonna
Speaker 1: rejoin us in just a moment. And as we look
Speaker 1: ahead of the cashow up on Wall Street, the NASA
Speaker 1: even the future is right now sixty two points higher.
Speaker 1: That's up six tenths of eight percent. SMP futures they're
Speaker 1: twenty five points higher, up seven tenths of a percent.
Speaker 1: Right now. The down futures are up two hundred twelve
Speaker 1: points again, up seven tenths of a percent. On this
Speaker 1: Tuesday morning, You're listening to Bloomberg Daybreak, markets, headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business Outland at Bloomberg Quick Tape. This is
Speaker 1: a Bloomberg Business Flash and I'm Karen Moscow Equity is
Speaker 1: on the rise this morning, while the dollar declines amid
Speaker 1: positive sentiment from China's rollback of COVID isolation measures and
Speaker 1: the cooling of a key inflation engage in the US.
Speaker 1: We checked the markets all day long year on Bloomberg.
Speaker 1: SMP Future is up about twenty six points, or seven
Speaker 1: tenths of uppercent. Down Future is up six tenths of
Speaker 1: upper cent or two hundred fourteen points. NASAC Future is
Speaker 1: up six tents of a percent or sixty five points.
Speaker 1: The decks in Germany's up three quarters of a percent.
Speaker 1: Ten year treasury down seven thirty seconds. He had three
Speaker 1: point seven seven percent. They yield on the two year
Speaker 1: four point three four percent, and I'm ex Scrude oil
Speaker 1: is up one percent or eighty one cents at eighty
Speaker 1: dollars thirty seven cents of barrel. That's a Bloomberg business flash.
Speaker 1: Now here's Michael Barg with more on what's going on
Speaker 1: around the world. Make Karen, thank you very much. President
Speaker 1: Biden has approved New York's emergency declaration as the death
Speaker 1: toll from a pre Christmas blizzard that paralyzed the Buffalo
Speaker 1: area and much of the country has risen to eight.
Speaker 1: The dead have been found in their cars, homes, and
Speaker 1: in snow banks. Meanwhile, thousands of flights were canceled or delayed,
Speaker 1: and more are scrapped for today. South Korea sent drones
Speaker 1: across the border into North Korea. It is an unprecedented
Speaker 1: for tant military move. After Kim John UN's regime dispatched
Speaker 1: five unmanned aerial vehicles into its air space. Monday Night football,
Speaker 1: the Chargers beat the Colts twenty three in the NBA.
Speaker 1: The NETS one Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quicktake, powered by more than
Speaker 1: twenty seven hundred journalists and analysts and more than a
Speaker 1: hundred twenty countries. How Michael barn this is Bloomberg, John Michael,
Speaker 1: thank you. It's kind of up on six four on
Speaker 1: Wall Street. Hum. John Tucker, you are listening to Bloomberg Daybreak.
Speaker 1: Let's continue knew our focus on the technology sector this
Speaker 1: morning with Dan Eyes, Managing director at wet Bush Securities.
Speaker 1: Dan at the intersection of tech investing and monetary policy.
Speaker 1: Let's talk about some of the wild cards that are
Speaker 1: out there for technology in three interest rate policy. What's
Speaker 1: the expectation and what is the ultimate impact on technology? Well,
Speaker 1: ultimately that's really been the black cloud over tech and
Speaker 1: risk assets. I mean, is the FED continues to be
Speaker 1: on this hawkish path towards ultimately combat and inflation. Are
Speaker 1: they in the seventeen eighth or nine now? The one
Speaker 1: thing it feels definitely like in the first sort of
Speaker 1: quarter and a half two the FED will be done
Speaker 1: with those hikes. And that's the important thing is that
Speaker 1: right now, that's the biggest variable that I think in
Speaker 1: terms of investors really diving into the deep end of
Speaker 1: the pool and risk assets. It's FED driven. It's ten
Speaker 1: years of been, but we we were starting in the
Speaker 1: eighth ninth dinning. That's why we beat bullish on tech. Here.
Speaker 1: Can you further differentiate those names that are more consumer
Speaker 1: of facing, Yeah, I think when you look at names
Speaker 1: that have really taken on the chin the upper concept,
Speaker 1: names like Amazon, which obviously is very heavily exposed in
Speaker 1: terms of the consumer trends, but on some of the parts.
Speaker 1: If you look at the cloud business, I think that's
Speaker 1: an undervalued piece. You look at Meta, I mean Zuckerberg
Speaker 1: and Facebook, that's really been you know, what's been a
Speaker 1: disaster year in terms of two thousand twenty two because
Speaker 1: of that aggressive what we've we've risky moved ultimately the
Speaker 1: metaborth strategy and now it's really about them peeling that
Speaker 1: back and focused on social media. And then you look
Speaker 1: at other names. Of course, you look at names like
Speaker 1: Alphabet in terms of Google and some of these other
Speaker 1: digital advertising players. But but like I was taking. I
Speaker 1: believe there's me a lot of M and A and
Speaker 1: I think a lot of these spots are baking in
Speaker 1: almost army getting like new is and there's why any
Speaker 1: relief we gets in tected ripple out higher. And at
Speaker 1: the end of your note that you passed along you
Speaker 1: have favorite cloud names, favorite cyber security names, favorite under
Speaker 1: the radar names, favorite overall tech name, top M and
Speaker 1: A candidates. Let's go right through the list. If you
Speaker 1: would start with the favorite cloud names, Yes, the favorite
Speaker 1: cloud names. Microsoft. In our opinion, communes would be the
Speaker 1: best way to play cloud in terms of the strength
Speaker 1: we're seen in Redmond, and I think that's gonna be
Speaker 1: a resilient area of spend despite some of the macro
Speaker 1: storm cloud. I also look at Salesforce dot com. I
Speaker 1: mean that's the name time and thrown out in the
Speaker 1: garbage here. I think there's been more activism. There's a
Speaker 1: core cloud in there, and from the Salesforce. I also
Speaker 1: think Amazon and the Cloud pieces a way to play
Speaker 1: that as well. And real quick, the favorite cyber security names,
Speaker 1: favorite cyber I love names like pow Out, Checkpoint, cyber Arc,
Speaker 1: as well as Hannible, a z Scaler and crowds of
Speaker 1: those names in the left wane. I think cyber security
Speaker 1: is going to be what I've used a rocket Gibraltar
Speaker 1: sector just given the threat levels that we've seen two
Speaker 1: thousand twenty three. And uh, let's do top M and
Speaker 1: A candidate's real quick like fifteen seconds here, Yeah, top
Speaker 1: M and AD. I think cyber and cloud we're going
Speaker 1: to see those. There's a names like vivernous quow as
Speaker 1: Cannibal could see a rapids seven. I think it's going
Speaker 1: to be just the tidal wave of M and A
Speaker 1: that hits packed in two thousand and I'll do this
Speaker 1: last one for you. The favorite overall tech name is Apple. Dan.
Speaker 1: Always a pleasure. We appreciate it, Dan, I've said wet
Speaker 1: Bush Securities setting us up for the new year with technology.
Speaker 1: And as we look at the tech A Dance dec Index,
Speaker 1: it is right now seventy points higher the tech futures.
Speaker 1: Just to have this morning's top stories plus your local
Speaker 1: headlines and check out of markets. But first let's get
Speaker 1: a look at today's Boomberg weather for a cast with
Speaker 1: Rob Caroline gradual clearing today his in the tristead areas
Speaker 1: should be around thirty five this say afternoon. This looks
Speaker 1: to be the coldest day out of the work week,
Speaker 1: will be warmer by the weekend. Clear skies tonight those
Speaker 1: five to thirty Tomorrow, lots of sunshine. It should be
Speaker 1: forty to forty five tomorrow afternoon hartlely cloudy with a
Speaker 1: low of thirty to thirty five Tomorrow night. You look
Speaker 1: for Thursday sunny and forty five to your fifty eight.
Speaker 1: I'm Rob Carolyn with your three day forecast on Bloomberg
Speaker 1: eleven three oh broadcasting live from the Bloomberg Interactive Broker
Speaker 1: Studio in New York. Bloomberg E Living Freedom to Washington,
Speaker 1: d C. Bloomberg to Boston, Bloomberg one oh six one
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Speaker 1: the Bloomberg Business and Bloomberg Radio dot Com. This is
Speaker 1: Bloomberg Daybreak that's coming up on six thirty of Wall Street.
Speaker 1: Good morning, I'm John Tucker and I'm TERR Moscow. We
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Speaker 1: Find out to get refunds. Dot Com First, US futures
Speaker 1: and stocks overseas are higher this morning. The boost in
Speaker 1: sentiment comes as China's scraps more COVID rules. Now Beijing
Speaker 1: plans to end its quarantine rules early next month. Bloomberg
Speaker 1: day Break Asia anchor Brian Curtis has more from Hong Kong.
Speaker 1: This marks the end of China's three years of COVID isolation.
Speaker 1: People arriving in China will only need a negative COVID
Speaker 1: test within forty eight hours of departure. Up until now,
Speaker 1: arrivals had to quarantine for eight days. The government said
Speaker 1: it would handle visa applications for foreigners for everything from
Speaker 1: business and study to family reunions, and outbound tourism will
Speaker 1: also resume quickly. This could be very good for Europe
Speaker 1: and other destinations, travel and consumer good stocks jumped in
Speaker 1: Hong Kong. Brian Curtis Bloombergy day break. Alright, thanks Brian.
Speaker 1: Stocks and shot gained more than one percent overnight and
Speaker 1: that is giving a left to US futures as we
Speaker 1: close out the last trading week of the year. It's
Speaker 1: been a dismal two for the balls, with the SMP
Speaker 1: five hundred down more than the credit. Swiss U S
Speaker 1: actuity strategist Jonathan Gallup sees a rebound for next year.
Speaker 1: You do have oil lift off and then you actually
Speaker 1: get some upside in the more commodity sensitive stuff like
Speaker 1: the MP name and the service names. The sector is
Speaker 1: going to be a really big surprise. It's absolutely topic.
Speaker 1: Jonathan Gallo bit Credit Squeeze predicts the SMP five hundred
Speaker 1: we're closed at forty fifty next year. Well, John, Another
Speaker 1: major story we're following this morning, the bad weather continuing
Speaker 1: to hamper air travel across the country. We get the
Speaker 1: latest live at the Bloombery Steve Rappaports, Eve, good morning,
Speaker 1: Good morning, Karen and John. It's a good thing Santa
Speaker 1: doesn't fly southwest, otherwise he may never have left the
Speaker 1: North Pole. The airline accounts for roughly sevent of cancelations
Speaker 1: nationwide yesterday. Southwest stock is down in pre market trading.
Speaker 1: Senior director Jim McVeigh explains the storm caused a ripple effect,
Speaker 1: leaving the airline to play catch up. As the storm
Speaker 1: continued to sweep across the country, the cancelations just compiled
Speaker 1: one after another, and as a result, we end up
Speaker 1: with flight cruise and airplanes that are out of place
Speaker 1: and not in the cities that they need to be
Speaker 1: in to continue to run our operations. McVeigh says Southwest
Speaker 1: is doing everything it can to write the challenges it faces.
Speaker 1: Live in New York. I'm Steve Rappaport Bloomberg Daybreak right, Steve,
Speaker 1: thank you. That's the five things that you need to
Speaker 1: notice start your day. Brought to you by Innovation Refunds. Again.
Speaker 1: Futures are higher this morning, with S and P futures
Speaker 1: up twenty six points and now futures have two four
Speaker 1: and ASTAC futures up safety four. Straight ahead, your latest
Speaker 1: local headlines, plus a check of sports. And this is Bloomberg.
Speaker 1: Dam thanks one of Wall Street. Time to bring in
Speaker 1: Michael Barr with more of them. What else is going
Speaker 1: on in New York and around the world. John, thank
Speaker 1: you very much, Sarah. President Biden has approved a state
Speaker 1: of emergency as a winter nightmare continues in the Buffalo area.
Speaker 1: New York Governor Kathy hocol as at least twenty eight
Speaker 1: people have died. We still have scores and scores of
Speaker 1: vehicles that were abandoned when people left during the storm.
Speaker 1: Governor Hocole called it the blizzard of the century. Representative
Speaker 1: like George Santos, admitted he lied about his job experience
Speaker 1: and college education during his successful campaign for a House
Speaker 1: seat the Long Island Republicans spoke with City and State
Speaker 1: aired on ABC seven about questions on his campaign website
Speaker 1: that he was Jewish. I alway joke I'm Catholic, but
Speaker 1: I'm also jude Ish. Uh. And I've made that joke
Speaker 1: because growing up, I grew up fully aware that my
Speaker 1: grandparents were Jewish, came from from a Jewish family, and
Speaker 1: they were refugees to Brazil, and that was always the
Speaker 1: story I grew up with, and I've always doing it
Speaker 1: very well. Santo says he plans to take office next month.
Speaker 1: New York police officials say they've captured a suspect they
Speaker 1: say is responsible for knife and to death the pediatrician
Speaker 1: in a Manhattan park and another man who had just
Speaker 1: left a bar in the East Village. The Biden administration
Speaker 1: is calling out the governor of Texas. A busload of
Speaker 1: migrants arrived in Washington, d C. On Christmas even, sixteen
Speaker 1: degree whether without warning, at the official residents of Vice
Speaker 1: President Harris. Ukraine's foreign minister is calling for a peace
Speaker 1: summit with the U n Secretary General as mediator. We
Speaker 1: think that the best the United Nations could be the
Speaker 1: best venue for holding this uh this summit, because this
Speaker 1: is not about making a favor to a certain country.
Speaker 1: This is really about bringing everyone on board. Foreign Minister
Speaker 1: to meet tro Kulai, but told the Associated Press Russia
Speaker 1: must face a war. Rhymes tribe unital globally use twenty
Speaker 1: four hours a day on the air end on Bloomberg
Speaker 1: Quick Take, powered by more than twenty seven under journalist
Speaker 1: and analysts in more than a hundred twenty countries. I'm
Speaker 1: Michael bar This is Bloomberg, John Michael. Thank you guess
Speaker 1: now six thirty four on Wall Streets and time for
Speaker 1: the Bloomberg Sports Report, Brought to you by here try
Speaker 1: state ibbe dealer. Good morning, John stash Ower, All right John.
Speaker 1: Earlier the season, the nets were a mess. Started one
Speaker 1: in five, nine and eleven, they fired the coach. There
Speaker 1: was the whole Kyrie You're being saga, but the nets
Speaker 1: just one at Cleveland on seventeen, with both Kyrie and
Speaker 1: Kevin Rant scoring thirty two points. They combined to make
Speaker 1: twelve of nineteen three pointers and the nets of one
Speaker 1: nine in a row thirteen and fourteen. Their coaches Jacque Vaud.
Speaker 1: When we came back as a group, we kind of
Speaker 1: classed to each other that it was going to be
Speaker 1: about basketball and um, hopefully not let anything interfere any
Speaker 1: outside noise, uh interfere with that. And our guys have
Speaker 1: done an unbelievable job of protecting each other and making
Speaker 1: this thing about basketball. It's play tomorrow in Atlanta, Nixer
Speaker 1: in Dallas Tonight, My Night Football. Chargers made the Colts
Speaker 1: twenty three l a is in the playoffs, one wild
Speaker 1: card spot left in the a f C, with slumping
Speaker 1: Miami leading the Jets page Shoots and Steelers by one
Speaker 1: game of Dolphins visit the Pats Sunday, and Miami QB
Speaker 1: to a town of Belowa, backing concussion protocol. Jet Sunday
Speaker 1: visit Seattle. Mike White returns to starting QB with his
Speaker 1: injured ribs having heal. John Dash Howard Bloomberg Sports, John
Speaker 1: all Right, Bloombergs John Stasha were brought to you by AUTI.
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Speaker 1: of the cash. Open on Wall Street for this Tuesday morning,
Speaker 1: Futures in the Green, the Dolph futures of two SMP futures,
Speaker 1: the Dastak futures fifty eight points higher. You're listening to
Speaker 1: Bloomberg day Break, a six on Wall Street. Bloomberg Radio
Speaker 1: is on the air from San Francisco to New York,
Speaker 1: London to Hong Kong. And let's check in now with
Speaker 1: our global news team for some of the top stories
Speaker 1: heard on our three hundred affiliate radio stations around the world.
Speaker 1: I'm Steve Polas on ktr H in Houston. We're talking
Speaker 1: about a bounce back in restaurant staffing. I'm Jeff Bullinger
Speaker 1: and on w l W in Cincinnati, I'll be talking
Speaker 1: about the National Retail Federation report that says nearly one
Speaker 1: out of five holiday gifts will be returned by the recipients.
Speaker 1: And Kimberly Adams and on w BV in Boston, I'll
Speaker 1: be reporting on city officials considering a possible cap on
Speaker 1: cannabis shop. I'm Genus Servetti and for w T A M.
Speaker 1: In Cleveland, I'm reporting that Toyota says its global output
Speaker 1: hit a record four November. And those are some of
Speaker 1: the stories are Bloomberg journalists and analysts are working on
Speaker 1: this morning around the world, and tell him now for
Speaker 1: the Bloomberg Small Business Report, Let's get that from Bloomberg's
Speaker 1: Lisa ma Tale. Are you looking to improve your email
Speaker 1: marketing but not sure where to start? Business Insider turned
Speaker 1: to the advice of a few small business owners who
Speaker 1: have seen their subscribers skyrocket to find the right platform
Speaker 1: to use. They suggest crowdsourcing for information, reach out to
Speaker 1: friends to get their opinion, post on Facebook groups for advice,
Speaker 1: see what your competition is using, and reach out to
Speaker 1: the software company itself with any questions. Next, give people
Speaker 1: something in exchange for their email address that's low effort
Speaker 1: for you, but high value to the customer, like slides
Speaker 1: to a past workshop or an easy giveaway. And to
Speaker 1: find out what content works best, look at the data.
Speaker 1: Which emails received the best engagement and open rates. Try
Speaker 1: a b testing your subject lines, which most email marketing
Speaker 1: services allow you to do. And don't be afraid to
Speaker 1: ask your subscribers what they like. An email poll twice
Speaker 1: a year goes a long way. And that's the Bloomberg
Speaker 1: Small Business Report. All right, thanks Lisa. Don't love what
Speaker 1: you go for Christmas? Well you're not alone, Bloomberg's Erika
Speaker 1: Hirschowitz reports. Were you one of those people who had
Speaker 1: to fake loving what Sannah left you under the tree? Well,
Speaker 1: don't feel so bad. A new report is predicting consumers
Speaker 1: will return more than one point four billion dollars in
Speaker 1: holiday orders this season. The study by software company Salesforce
Speaker 1: says that's a fifty seven percent increase from one US
Speaker 1: online sales were also up five percent to two billion.
Speaker 1: The report noted that part of the uptick could be
Speaker 1: from shoppers who purchased gifts earlier this year and repurchased
Speaker 1: them later for a better discount. Erica Hirschowit's Bloomberg Radio.
Speaker 1: All right, thanks Erica. And just ahead, we'll take a
Speaker 1: look at the top stories in the nation's capital. And
Speaker 1: we're gonna be joined by Terry Haynes of Panji of
Speaker 1: Policy SMP Futures right now, higher you're listening to Bloomberg Tape,
Speaker 1: break Markets, headlines and breaking news twenty four hours a
Speaker 1: day at Bloomberg dot Com, the Bloomberg Business at and
Speaker 1: at Bloomberg Quicktape. This is a Bloombern Business Lash and
Speaker 1: I'm Karen Moscow. Futures on the rise this morning. Let's
Speaker 1: go to the first word breaking news dance for today's
Speaker 1: morning call, and here's Tatiana Darya, Tatiana, good morning, Good morning, Karen.
Speaker 1: Like you said, it's green on the screen. After the
Speaker 1: long Christmas weekend, the futures hired by two hundreds, and
Speaker 1: Piece up twenty five and NAZAC up fifty six. They
Speaker 1: just ten year yield higher by three basis points to
Speaker 1: three spots seventy seven. This morning. Oil is up one
Speaker 1: of while the dollar is weaker by two tents. Else Where,
Speaker 1: European stocks are higher at this hour, while Asian stocks
Speaker 1: were mixed overnight and back in the US on the
Speaker 1: economic front, wholesale inventories at eight thirty and the house
Speaker 1: price index at nine in early trading, US listed Chinese
Speaker 1: stocks are moving higher after China's decision to reopen its borders.
Speaker 1: Ali Baba, j D dot Com up more than two percent,
Speaker 1: among others. One Chinese company moving lower, though, is electric
Speaker 1: car maker Neo, down three percent after cutting its delivery
Speaker 1: outlook and warning of sales challenges. That's weighing on Tesla
Speaker 1: to down nearly four percent here this morning after a
Speaker 1: separate report the company will run a reduced production schedule
Speaker 1: at its plant in Shannahai and wrapping things up SOUTHASTERI
Speaker 1: lies down four amid more flight cancelations due to the
Speaker 1: winter storm. Lie from the First and Breaking news desk.
Speaker 1: I'm Tatiana, Daria Karen, Right, Tatiana, thank you and to
Speaker 1: hear live breaking news of your Bloomberg type squawk on
Speaker 1: your terminal SUU A wuk and that's a Bloomberg business lash.
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. The
Speaker 1: death toll from a pre Christmas blizzard that paralyzed the
Speaker 1: Buffalo area and much of the country has risen to
Speaker 1: twenty eight In Western New York, the dead been found
Speaker 1: in their cars, homes, and in snowbanks. Meanwhile, President Biden
Speaker 1: approved an emergency declaration for Western New York. The Biden
Speaker 1: administration criticized Beijing's military drills near Taiwan this week as provocative.
Speaker 1: It insists it will continue helping the government in tai
Speaker 1: Pay defend itself. Monday Night football, the Chargers beat the
Speaker 1: Colts twenty three in the NBA. The NETS one Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quicktake, powered by more than twenty seven undred journalists
Speaker 1: analysts in more than twenty countries. I'm Michael bar, This
Speaker 1: is Bloomberg, Karen Frry, Michael bar Thank you at at
Speaker 1: sixty two on Wall Street, and we turned to news
Speaker 1: in science and technology now with the Bloomberg and j
Speaker 1: I t Stem Report. And here's just making news in science, technology, engineering,
Speaker 1: and math. China is reopening its borders to the world
Speaker 1: by removing the final COVID zero restrictions. Starting January eighth,
Speaker 1: Beijing will no longer require inbound travelers to quarantine, they'll
Speaker 1: only have to obtain a negative COVID test within forty
Speaker 1: eight hours. Meanwhile, the Chinese government may also reduce the
Speaker 1: frequency of reporting cases, ultimately changing to a monthly report.
Speaker 1: Acquisition talks between crypto lenders Next So and Volved have
Speaker 1: not yet resulted in an agreement. As Vault shares down,
Speaker 1: or rather as VULT stares down to January twenty deadline
Speaker 1: to present a restructuring plan to creditors, Fault and Next
Speaker 1: So and Her talks about a deal in July after
Speaker 1: Singapore based Fault froze withdrawals and hired advisers to explore
Speaker 1: a potential restructuring. Crypto lending has been devastated this year
Speaker 1: amid the collapse of entities like Hedge Fund, Three Arrows
Speaker 1: Capital and the f t X Alameda Empire and Apple
Speaker 1: maybe getting a tax bill overseas. The NK is reporting
Speaker 1: Apple faces about ninety eight million dollars in back taxes
Speaker 1: in Japan, a bill that appears to be tied to
Speaker 1: bulk sales of duty free devices to foreign tourists. The
Speaker 1: reports has Apple halted tax free shopping in June is
Speaker 1: believed to have filed an amended tax return. And that's
Speaker 1: the Bloomberg and a I D STEM Report. John Charen,
Speaker 1: thank you very much. It is now six forty four,
Speaker 1: Well Street, time to check what's going on in d C.
Speaker 1: Some of the top stories in our nation's capital include
Speaker 1: Michael Barne told you about a couple of these, New
Speaker 1: York Congressman elect admitting to lying about his professional background
Speaker 1: and education history, the US criticizing China military drills near Taiwan,
Speaker 1: calling it provocative. Kerry Lake spid to overturn Arizona election
Speaker 1: results rejected by a judge. And let's take a deeper
Speaker 1: dive into some of these stories and more with our
Speaker 1: next guest, Terry Haines of Pangaea Policy. I'm gonna call
Speaker 1: him the Pride of Pittsburgh. Terry, good morning to you.
Speaker 1: I hope you hope you had a great holiday. Um
Speaker 1: let's start off with I think somebody called it problems
Speaker 1: about candidate quality. Is this New York Congressman elect one
Speaker 1: of those problems candidates for the Republican Party? This is
Speaker 1: a George George Santos, by the way, Yes, yes, good morning,
Speaker 1: good morning John, and yes I will take the private porch.
Speaker 1: Uh title, thank you very much for that. Uh, my
Speaker 1: parents will be most proud. Anyway, The yes, Santos isn't
Speaker 1: a bit of trouble. I think. At the same time,
Speaker 1: the bar for the bar for something like an expulsion
Speaker 1: is very, very high. Uh. There have been twenty expulsions
Speaker 1: from the House of Representatives in the history of the Congress,
Speaker 1: and seventeen of those or as a result of supporting
Speaker 1: the treason and conspiracy, uh, as a result of supporting
Speaker 1: the Confederacy. We haven't had an expulsion in the House
Speaker 1: since when Jim traffic Had of Ohio got expelled for
Speaker 1: being convicted of a bunch of things. So the bar
Speaker 1: is pretty high on expulsion the answer the question of
Speaker 1: New York voters. But but at the same time, he
Speaker 1: may end up getting censured or or face some other
Speaker 1: kind of discipline. Uh. But yeah, I mean the sort
Speaker 1: of resume padding goes on, you know, both inside and
Speaker 1: outside the Congress these days. And uh, you know, so
Speaker 1: he's gonna he's gonna face a bunch of questions. We're
Speaker 1: senior members of the party aware of this, and I
Speaker 1: don't know where I doubt I doubt that very much. Uh.
Speaker 1: You know it is not. You know. The thing is
Speaker 1: about this is that you know, first of all, you're
Speaker 1: a candidate. You know there you're not you know, they
Speaker 1: figure you're not. Uh, you're not going to be vetted.
Speaker 1: Particularly they figured the voters vetue and uh. And after
Speaker 1: after you're elected, you become subject to the discipline of
Speaker 1: the House when you become a member, and really not before.
Speaker 1: So you know, Mr Santos saying I'm sorry is uh
Speaker 1: is an interesting way to right before he becomes a member.
Speaker 1: It's an interesting way to deal with this. But he'll
Speaker 1: be under a cloud for the entire for the entire time.
Speaker 1: I'm and I suspect, you know, I suspect that the
Speaker 1: New York Republicans won't won't want him around after this
Speaker 1: particular term, and you know, Frankly will support another candidate,
Speaker 1: and uh, you know, he'll be a virtual prior in
Speaker 1: the House. I think. So his tenure is a as
Speaker 1: an elected official is going to be pretty short. Terry,
Speaker 1: I didn't headline this one, but I wented awagh in
Speaker 1: on you know who says there's no by bi partisanship
Speaker 1: in Congress. We we actually got a spending bill. I'm
Speaker 1: gonna h spending bill passed over the holiday before. Yeah,
Speaker 1: you know, we did. And you know, and my view
Speaker 1: of this, John is that and you and I have
Speaker 1: talked about this before, is that generally is that there's
Speaker 1: not too two political parties in Congress. There's four factions
Speaker 1: going from left to right. You have Progressive Democrats, Centrist Democrats,
Speaker 1: Centrist Republicans, and conservative Republicans. Uh. You know, you get
Speaker 1: any two of those four aligned, and then you know
Speaker 1: things are to get to get serious one way or
Speaker 1: the other. The Centrists are always in an alignment on
Speaker 1: on spending, so you know, you're going to get a
Speaker 1: bipartisan deal on spending, as we have each of the
Speaker 1: last ten or eleven years. And you know, I think
Speaker 1: we continue to get that frankly, and you know, by
Speaker 1: and large were what we're going to get into Congress
Speaker 1: is we're going to get gridlock on all kinds of
Speaker 1: domestic issues, so they be social or otherwise. We're gonna
Speaker 1: get continued centrist bipartisanship on spending, and we're going to
Speaker 1: get continued almost unanimity and foreign policy. So you know,
Speaker 1: the spending bill in some ways is a precursor and
Speaker 1: a precursor to exactly what's likely to happen in the
Speaker 1: next Congress. Innict UH spending and foreign policy. At the intersection,
Speaker 1: we have Ukraine, A Republicans getting weary of spending money
Speaker 1: on Ukraine just about thirty seconds. Yeah, I don't think.
Speaker 1: I don't think it's weary this so much. They're interested
Speaker 1: more in accountability. If you listen to a lot of them,
Speaker 1: what they'll say is we're interested in making sure that
Speaker 1: the money is being spent well and fair enough. They should,
Speaker 1: that's part of their functions as the Congress. But I
Speaker 1: continue to think they're going to support the Ukraine war
Speaker 1: and you're not going to see any backtracking from that. Terry.
Speaker 1: Always a pleasure appreciated, and I have a great new
Speaker 1: year if I if I don't talk to you, Terry
Speaker 1: Haynes of Panji A Policy and you can read more
Speaker 1: about these stories on Bloomberg dot com or on the
Speaker 1: Bloomberg term will also reminder you can follow all the
Speaker 1: latest Bloomberg Radio in Washington Bloomberg one at one to
Speaker 1: five point seven FM HD two ahead of the cash
Speaker 1: open on Wall Street for this last trading day of
Speaker 1: the week this Tuesday morning, dew features right now up
Speaker 1: two one points. That's up seven tenths of a percent.
Speaker 1: SMP him many futures of twenty six points, and that
Speaker 1: as that futures right now up sixty one points. You
Speaker 1: are listening the Bloomberg Dame right markets headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot com
Speaker 1: and Bloomberg Business at and at Bloomberg Quicktake. This is
Speaker 1: a Bloomberg Business Flash and I'm paren Moscow futures are
Speaker 1: on the rise this morning, and we checked the markets
Speaker 1: all day long here on Bloomberg. SMP futures up seven
Speaker 1: tens of percents, so are DAL futures. Nastack futures up
Speaker 1: six tents of uppercent. SNP futures again up twenty six point,
Speaker 1: Staff futures up two hundred twenty three, and Nastack future
Speaker 1: is up sixty three. The decks in Germany's up eight
Speaker 1: tens of percent. Ten year treasury down eight thirty seconds.
Speaker 1: You have three point seven seven percent they yield on
Speaker 1: the two year four point three four percent. NIMEX scrude
Speaker 1: oil is up nine ten percent, or seventy two cents
Speaker 1: and eighty dollars twenty eight cents of Barrel Co makes
Speaker 1: gold up seven tenths percent, or thirteen dollars thirty cents
Speaker 1: at eighteen seventeen sixty announced, the Euro one point six
Speaker 1: five four against the dollar, the n one thirty three
Speaker 1: point to six, and bitcoin little changed at about six
Speaker 1: eight hundred dollars. And that's a Bloomberg business flash, John Karen,
Speaker 1: thanks very much, appreciated. Six fifties six on Wall Street.
Speaker 1: Time to take a look at some of the stocks,
Speaker 1: some of the names that are moving in the pre market,
Speaker 1: and for that we're joined by Bloomberg. Rady on TV
Speaker 1: Markets corresponded pretty Groupta. I know you heard our fantastic
Speaker 1: interview earlier this morning with the Bloomberg's Allen wanted Shanghai.
Speaker 1: He seems to think from his perspective, those restrictions in China,
Speaker 1: the COVID restrictions are pretty much over. They're not coming
Speaker 1: back no matter what. That I imagine, well, it is
Speaker 1: having an impact on stocks this morning. He hasn't say
Speaker 1: the sentiment that's really I think driving the action that
Speaker 1: you're seeing the equity markets around the world. But we
Speaker 1: love to look at our poster child for China for China,
Speaker 1: stories like Ali Baba for example, be A b A
Speaker 1: as a taker about two point three percent in the
Speaker 1: pre market. Remember this comes after to your point, they
Speaker 1: are going to reopen the borders, but the idea hears
Speaker 1: that they're not going backwards. Remember reopenings are messy historically,
Speaker 1: and China has kind of taken one step forward three
Speaker 1: steps back. That's at least have been their approach. But
Speaker 1: this to completely scrap their entire quarantine restrictions for all
Speaker 1: foreigners starting January eight, and not to a timeline, by
Speaker 1: the way, that's kind of coming to fruition. Tom Orleck
Speaker 1: of Bloomer Economics has a China expert, if you will
Speaker 1: our local China expert. He says that he expects that
Speaker 1: full reopening by the end of March. So um, the
Speaker 1: timeline here is really interesting. What is what is al
Speaker 1: Obama like the poster child? Though? Why is this the
Speaker 1: bell weather for China? Well, it's kind of a one.
Speaker 1: It's obviously listed here, so US listed a d R
Speaker 1: is also a massive e commerce company, so you kind
Speaker 1: of get a little bit of a gauge when it
Speaker 1: comes to Chinese spending patterns specifically. Also, it actively competes
Speaker 1: with likes of Amazon, so we like to look at
Speaker 1: it as our as our poster child. But you can
Speaker 1: see it in some of the other stocks as well.
Speaker 1: Pindo a Deal for example, p d D another e
Speaker 1: commerce company up about two and a half percent in
Speaker 1: the pre market, j d dot Com if you will,
Speaker 1: as well, Um and even Billy Billy b I l
Speaker 1: i uh, those shares are all up about just tune
Speaker 1: about three percent. I can say there's nothing worse in
Speaker 1: the well, there's there are a lot of things worse.
Speaker 1: But one thing that really stinks is when you're in
Speaker 1: an airport and your flight gets canceled and there's no
Speaker 1: alternative and you're trying to call customer service and it
Speaker 1: just like hangs up on you. Yeah, it's funny. A
Speaker 1: lot of that happening with Southwest at the moment, specifically
Speaker 1: because they're about eight percent of their flights were grounded
Speaker 1: or canceled. So you really saw a lot of pain there,
Speaker 1: and that was one of the kind of issues that
Speaker 1: now the Department of Transportation is actively looking into, saying
Speaker 1: that well, the travel chaoses are usually pretty normal, like this, Christmas, Thanksgiving, Easter, etcetera.
Speaker 1: You see these kind of moves, but this is taking
Speaker 1: it to another level. So Luv your taker there for
Speaker 1: Southwest shots down get this four percent quite a little
Speaker 1: bit of pain. But you want to keep an eye
Speaker 1: on some those other airlines American Delta as well. Right
Speaker 1: now they're not doing a whole lot and really a
Speaker 1: lot of pain in Southwest Airlines. I was talking to
Speaker 1: Dan Ives earlier and he thinks, um Tesla his hit bottom,
Speaker 1: Like I just want to under it's one of the
Speaker 1: most active in the pre market testlas years and they're
Speaker 1: down pretty always a pleasure, appreciate it. Bloomberg Radio and
Speaker 1: TV Market Score spotted pretty Gupta and uh looking at
Speaker 1: stocks ahead of the open on Wall Street. Dow futures
Speaker 1: right now up two SMP EMNI futures twenty five points higher,
Speaker 1: and that has Damny futures they're on fifty nine. You
Speaker 1: are listening to Bloomberg Daybreak Live from the financial capital
Speaker 1: of the world, broadcasting across the globe. This is WVBR,
Speaker 1: New York. Bloomberg he lived THREO two thousand three is
Speaker 1: very likely to me the year of recession. We might
Speaker 1: skirt a recession or