Speaker 1: Markets, headlines and breaking news twenty four hours a day
Speaker 1: at Bloomberg dot Com. For Bloomberg Business Outland at Bloomberg
Speaker 1: Quick Take. This is a Bloomberg Business flash and I'm
Speaker 1: KMin Moscow US Dock Index, futures and European shares are
Speaker 1: falling as investors scale down their optimism for less hawkish
Speaker 1: central banks and seek more evidence that inflation is moderating.
Speaker 1: We check the markets every fifteen minutes throughout the trading
Speaker 1: day on Bloomberg. Right now, S and P futures are
Speaker 1: down thirty six points down, futures down two D eighty eight,
Speaker 1: and NASDAG futures down one D thirteen. The decks in
Speaker 1: Germany's down one per cent. The ten year treasury down
Speaker 1: eighteen thirty seconds. You'll three point seven zero percent yield
Speaker 1: on the two year four point one two per cent.
Speaker 1: Nine mex screwed oil is down three tenths per cent
Speaker 1: or twenty seven cents at eighty six dollars twenty five
Speaker 1: cents a barrel. Comex goal down eight tenths percent or
Speaker 1: thirteen dollars fifty cents at seventeen seventeen an ounce. The
Speaker 1: euro point two against the dollar British bound one point
Speaker 1: one the end one point four one, and bitcoin is
Speaker 1: down one at a quarter percent, at twenty thousand dollars.
Speaker 1: And that's a Bloomberg business flash. Now here's Michael Barr
Speaker 1: with Moore and what's going on around the world. My God, Karen,
Speaker 1: thank you very much. President Joe Biden is traveling to
Speaker 1: Florida today. Biden will pledge that federal, state, and local
Speaker 1: governments will work as one to help rebuild homes, businesses,
Speaker 1: and lives destroyed by Hurricane Ian. Former President Donald Trump
Speaker 1: wants the U. S. Supreme Court to look into government
Speaker 1: papers seized at his Zamara Lago home. Trump is asking
Speaker 1: the justices to let a quarter pointed special Master we
Speaker 1: view one hundred documents with classified markings. In baseball, Yankee
Speaker 1: slugger Aaron Judge at his sixty second home run of
Speaker 1: the season to break Roger marries a l record. It
Speaker 1: happened in Game one as the Yankees split a double
Speaker 1: header for the Rangers. The Mets swept a doubleheader against
Speaker 1: the Nationals, but the Brave still clinch the NL East
Speaker 1: with the win over the Marlins. The Red Sox and
Speaker 1: A's one. The Giants lost global news twenty four hours
Speaker 1: a day on air and on Bloomberg Quickdake, powered by
Speaker 1: more than twenty seven hundred journalists and anialists more than
Speaker 1: a hundred twenty countries. Michael var and this is Bloomberg. Nathan. Alright, Michael,
Speaker 1: thank you. It's five forty nine on Wall Street Live
Speaker 1: from the Bloomberg Interactive Brokers Studios. This is Bloomberg day Break.
Speaker 1: Let's take a closer look at this market now. For that,
Speaker 1: we're joined by Anika Gupta, Director of macroeconomic Research at
Speaker 1: Wisdom Street. Anica, it's great to speak with you this
Speaker 1: morning as we watch futures fall after two straight days
Speaker 1: of gains to start off the fourth quarter. Is this
Speaker 1: a change in sentiment or be back to the kind
Speaker 1: of gloomy feeling we've had before the rally? Very good morning, Nathan, Yes,
Speaker 1: I think um. You know we've we've opened October and uh,
Speaker 1: you know the third quarter with a with larger hopes
Speaker 1: of a FED pivot um and you know we had
Speaker 1: a risk on market rally lot yesterday, um largely predicated
Speaker 1: on the fact that the Fed would turn UM. Today. However,
Speaker 1: you know we're back to risk off because there are
Speaker 1: a number of factors that are still weighing on sentiments.
Speaker 1: You know, we've got the all important OPEC meeting. We've
Speaker 1: also seen, um you know, some of the data that
Speaker 1: is coming in, uh, showing that, you know, if it
Speaker 1: were not likely to see the FED turn as quickly
Speaker 1: as previously anticipated, because we still need to get the
Speaker 1: FED jobs. The job's numbers coming in on Friday, UH
Speaker 1: for a bit more direction and clarity on the strength
Speaker 1: of the labor market. And UM, you know, I think
Speaker 1: the decision by OPEC is also weighing heavily on sentiment
Speaker 1: because uh, you know, previously, UM, you know, the anticipation
Speaker 1: was that we would be getting uh cuts, production cuts
Speaker 1: expected in the range of about a million barrels per day,
Speaker 1: But now they've hid that those discussions all the way
Speaker 1: up to about two million barrels per day, UM, and
Speaker 1: that that would again you know, the signific by considerable
Speaker 1: pressure on the inflation side, which would be coming from
Speaker 1: higher energy prices. What's your call on the impact that
Speaker 1: would have on inflation and the economic growth picture more broadly,
Speaker 1: if we did get that kind of outsized production cut
Speaker 1: from OPEC plus after the meeting today, well, the two
Speaker 1: things to consider here, Nathan. You know. The first thing
Speaker 1: is um, while that that cut, if they do go
Speaker 1: ahead with a with a cut as large as uh,
Speaker 1: you know, two million barrels per day, that would have
Speaker 1: more of a psychological impact on the market, because in reality,
Speaker 1: the the impact is a lot less than the official
Speaker 1: headline number because several members are already pumping far below
Speaker 1: their official quotas, which means they're automatically will be in
Speaker 1: compliance with this new headline um you know production cut
Speaker 1: limit that they would put into the market. So I think, um,
Speaker 1: you know, from from a psychological perspective, it would still
Speaker 1: be the cartail's largest reduction, um you know, since the
Speaker 1: deep cust that we agreed at the onset of the
Speaker 1: COVID pandemic. But the key thing to keep in mind
Speaker 1: is this is this decision is coming on a day
Speaker 1: when the EU has backed a new package of sanctions
Speaker 1: against Russia, uh you know, which also includes a price
Speaker 1: cap on oil sales to third world countries. So uh
Speaker 1: you know, the key the key focuses it's it's also
Speaker 1: in retaliation to this package that is coming in from EU. Uh,
Speaker 1: it's also trying to address the significant disconnect that we
Speaker 1: have between the physical oil markets and the synthetic oil markets,
Speaker 1: where you know, the physical markets are resonating concerns on
Speaker 1: a supply shortage, whereas the synthetic market is just resonating
Speaker 1: concerns on uh, you know, demand being curbed because of
Speaker 1: recession concerns. We only have about thirty seconds left here
Speaker 1: and Nika, but you did mention the JAR report coming
Speaker 1: out on Friday. We've seen strength in the labor market continuing.
Speaker 1: Do you expect that to continue on the payrolls report
Speaker 1: that comes out the end of the week. Well, I
Speaker 1: think we will see some loosening um in the job's data.
Speaker 1: We're expecting uh, you know, jobs to go at about
Speaker 1: two d and fifty thousand, unemployment to remain under around
Speaker 1: three point six percent, and a slight decrease in the
Speaker 1: average wage growth to around five point So it's still
Speaker 1: wouldn't signal that the FED is about to pivot, but
Speaker 1: it you know, we we believe we're still on track
Speaker 1: for seventy five basis points red hike in November and
Speaker 1: from then on, um, you know, we'll start to see
Speaker 1: a slower, more moderate piece of rate hikes going forward.
Speaker 1: By the Fed. Thanks so much a great getting your
Speaker 1: thoughts this morning. A Nica Gupta, director of macroeconomic research
Speaker 1: at Wisdom Tree, Karen very Nathan, thank you, and it's
Speaker 1: from thor day three on Wall Straight time for the
Speaker 1: Bloomberg The Law Report. Let's get to the goose stories
Speaker 1: were watching this morning from Bloomberg's Jeff Bellinger. PayPal investor
Speaker 1: charges in a proposed class action that many new accounts
Speaker 1: on PayPal were created by bots and not legitimate first
Speaker 1: time customers. A federal class action law soon accuses Vanguard
Speaker 1: Equities of sending spam text messages to consumer cell phones
Speaker 1: without their consent. The Fifth Circuit rule that a black
Speaker 1: teenager lacked proof that her Austin, Texas school district was
Speaker 1: deliberately indifferent to her complaints about race discrimination. Bloomberg Law
Speaker 1: everything you need, all on one legal research platform, including
Speaker 1: guidance analysis and Bloomberg market Intelligence. Find out more at
Speaker 1: Bloomberg Law dot com. All right, Jeff, thank you. Now
Speaker 1: another legal story we're watching. In day two of the
Speaker 1: new term, the Supreme Court heard oral arguments in a
Speaker 1: case that could deliver another blow to the Voting Rights Act,
Speaker 1: the nineteen law designed to protect my already voters at
Speaker 1: the ballot box. The Court is considering whether Alabama violated
Speaker 1: the Act by drawing its congressional map in a way
Speaker 1: that insures the state will have just one black representative
Speaker 1: for the next decade, even though its citizens are black.
Speaker 1: For more Bloomberg juon Grosso speaks to elections law expert
Speaker 1: Richard Hassen, a professor at u c l A Law School.
Speaker 1: This was a nearly two hour argument. What was the
Speaker 1: main focus or concern of the justices. Well, Alabama advanced
Speaker 1: a number of different arguments. Their most radical argument would
Speaker 1: essentially rework section to the Voting Rights Act, and there
Speaker 1: was little appetite on the Court for issuing an opinion
Speaker 1: that would overturn decades of precedent and have a whole
Speaker 1: new approach to the Voting Rights Act. But there was
Speaker 1: much more interest, at least among some of the conservative justices,
Speaker 1: especially Justice the Leado, in tweaking the existing standards in
Speaker 1: a way that would make it look like the Court
Speaker 1: is continuing with its application of existing law, but actually
Speaker 1: changes the standards enough to make it easier for states
Speaker 1: to win and harder for minority voters to it. The
Speaker 1: real question is whether or not the other justices would
Speaker 1: be willing to go along with Justice Alito. Over the
Speaker 1: last decade, the Supreme Court has already weakened the Voting
Speaker 1: Rights Act. It gutted Section five of the Act. So
Speaker 1: is there any chance that this case will be different
Speaker 1: or will they just continue on the road they've been on.
Speaker 1: So there is certainly a history of the Court being
Speaker 1: hostile to the Voting Rights Act. There was the two
Speaker 1: thousd thirteen case Shelby County versus Holder, that essentially killed
Speaker 1: off a major provision of Voting Rights Act known as
Speaker 1: Section five. There was the Burntch case that held the
Speaker 1: Section two doesn't have a lot of teeth outside of
Speaker 1: the resisting context. There's also some other decisions, including the
Speaker 1: decision a few years ago written by Justice Alito called
Speaker 1: Abbott First Paris Case out of Texas, which also weakened
Speaker 1: the understanding the Voting Rights Act. So if that pattern
Speaker 1: holds up, I don't think it's going to be good
Speaker 1: news for minority voters. I think the real question is
Speaker 1: not there's a good chance that the plaintiffs lose. We
Speaker 1: already know from them taking the case and issuing a
Speaker 1: stay that that's likely to happen. It's how they lose,
Speaker 1: how bad it's going to be. And that's Richard Hassan,
Speaker 1: a professor at u c l A Law School, speaking
Speaker 1: with Bloomberg student Grosso. Catch more in that interview, plus
Speaker 1: analysis of the latest legal news by subscribing to the
Speaker 1: Bloomberg Law Podcast or downloading the show at Bloomberg dot
Speaker 1: com slash podcast. Attorneys can find exceptional legal research and
Speaker 1: business development tools at Bloomberg Law dot com and on
Speaker 1: the Bloomberg terminal at b Law. Go futurists this morning
Speaker 1: or lower SNP futures down thirty nine points down futures
Speaker 1: down three hundred nine and NASDAG futures down one twenty
Speaker 1: and a ten year treasury down eighteen thirty seconds. You
Speaker 1: have three point seven zero percent. They yield on the
Speaker 1: two year four point one two per cent. Nine make
Speaker 1: screwed oils down half percent or forty cents at eighty
Speaker 1: six dollar. There's twelve cents of barrel. The euro this
Speaker 1: morning point nine to eight against the dollar British pound
Speaker 1: one point one zero, and our top stories are straight ahead.
Speaker 1: As Bloomberg Day Break continues. This is Bloomberg broadcasting live
Speaker 1: from the Bloomberg Interactive Broker's studio in New York. Bloomberg
Speaker 1: E Living Free to Washington, d C, Bloomberg On to Boston,
Speaker 1: Bloomberg one six one does San Francisco, Bloomberg nine sixteen
Speaker 1: to the country, Sirius xm A one nineteen, and around
Speaker 1: the globe the Bloomberg Business and Bloomberg Radio dot Com.
Speaker 1: This is Bloomberg Daybreak. It's five thirty on Wall Street.
Speaker 1: Good morning. I'm Nathan Hager and I'm Karen Moscow. We're
Speaker 1: just about four hours away from the open of US trading.
Speaker 1: Let's get you have to date on the news you
Speaker 1: need to know at this hour. We begin with Elon
Speaker 1: Musk reviving is a bid to buy Twitter. He'll make
Speaker 1: the acquisition at the rich a price of fifty four
Speaker 1: dollars and twenty cents of share. Now attention turns to
Speaker 1: the path ahead for Musk and Twitter. Ross Gerber with Gerberg.
Speaker 1: Kawasaki says, the world's richest man must focus on mending
Speaker 1: his relationship with a company and its employees. It's not distrusted,
Speaker 1: it's hate. They hate him. He's created a situation, and
Speaker 1: I love Elon. You know I'm I'm a fan and supporter,
Speaker 1: don't get me wrong, but I have friends at Twitter
Speaker 1: and they hate him. Now, if I'm Twitter, I'm not
Speaker 1: going to get rid of this lawsuit at all. I'm
Speaker 1: going to force specific performance on Elon because there's no
Speaker 1: trust there at all. Ross Gerber with Gerber Kawasaki says
Speaker 1: Musk is acquiring the company with employee morale at an
Speaker 1: all time low. Well, Twitter shares close twenty two percent
Speaker 1: higher yesterday, They're done about half percent this morning. Tesla
Speaker 1: shares also jumped on the news, climbing nearly three percent,
Speaker 1: and this morning Tesla's also lower, down one percent. Now.
Speaker 1: The US futures are lower as well this morning. Karen,
Speaker 1: following Hawky is rhetoric from several Central Bank officials. FED
Speaker 1: w R Philip Jefferson says reducing inflation will likely require
Speaker 1: a period of weak growth to ease demand. Also, speaking yesterday,
Speaker 1: San Francisco FED President Mary Daily, she stresses the importance
Speaker 1: of price stability. Unlike it's a great time to be
Speaker 1: a worker, the workers have all this power. I don't
Speaker 1: see a lot of power if your real wages are
Speaker 1: following nine and so that is sort of an example
Speaker 1: of why inflation is a corrosive If we let it go,
Speaker 1: it's a corrosive disease in the stay tuned for war
Speaker 1: from San Francisco, Fed President Mary Daily this morning, we
Speaker 1: sit down with her for an interview live on Bloomberg
Speaker 1: Radio and television at ten fifteen Wall Street Time. Well
Speaker 1: overnight saw stocks in Asia rally for a second straight day, Nathan,
Speaker 1: Traders are betting that the global monetary policy tightening cycle
Speaker 1: will soon ease. It's a different story in Europe this morning,
Speaker 1: where stocks are following US. Futures lower and we're keeping on.
Speaker 1: In UK politics this morning, Karen Prime Minister Liz Trust
Speaker 1: is set to give a speech at the annual Tory
Speaker 1: conference in Birmingham. It seemed at reviving her belieguered premiership.
Speaker 1: I'm back here. In the US politics are also in focus, Nathan.
Speaker 1: Former President Donald Trump is asking the Supreme Court to
Speaker 1: let a court appointed special master review classifying documentaries from
Speaker 1: his Maralago home to move escalates the Justice Department's investigation
Speaker 1: into the former president, and futures this morning are lower.
Speaker 1: As we said, f SMP futures down about twenty eight
Speaker 1: points and down futures down two two and Asdack futures
Speaker 1: down eighty three and as straight ahead. We have your
Speaker 1: latest local headlines plus the check of sports. And this
Speaker 1: is Bloomberg. Hi, Karen. Thanks, It's three on Wall Street
Speaker 1: where fifty six degrees in Central Park, still dealing with
Speaker 1: a bad accident Route eighty between eight and fifty seven
Speaker 1: and fifty eight in Patterson. Michael barrs here with what
Speaker 1: else is going on in New York and around the world. Michael,
Speaker 1: thank you very much. Nathan. Mourners will say their final
Speaker 1: goodbyes to an f d n Y E m S. Lieutenant.
Speaker 1: Funeral services take place today for Alis and Russo Elling
Speaker 1: in Brookville. She was fatally stabbed last week and an
Speaker 1: unprovoked attack. The f d n y S has Ruce o'elling,
Speaker 1: who was sixty one, will be posthumously promoted to captain. Today,
Speaker 1: the New York Division of the Drug Enforcement Administration and
Speaker 1: Local Law Enforcement announced the results of the first significant
Speaker 1: seizure of rainbow fentanyl in Manhattan. The seizure of nearly
Speaker 1: fifteen thousand pills happened on September when a vehicle under
Speaker 1: surveillance by the d e A was stopped outside the
Speaker 1: Lincoln Tunnel where they discovered the pills hidden in black
Speaker 1: top bags and a lego container. Bridget Brennan is the
Speaker 1: New York City Special Narcotics Prosecutor. My office and our
Speaker 1: partners are committed to disrupting high level narcotics trafficking by
Speaker 1: intercepting large loads of lethal drugs and drug proceeds. We
Speaker 1: do this to protect New Yorkers and to save lives.
Speaker 1: Prosecutor Brennan says, the person in the car, Letitia Bush
Speaker 1: of Trenton, New Jersey, was arrested. President Biden will visit
Speaker 1: Florida today to tour the damage caused by a hurricane Ian.
Speaker 1: More than one hundred people were killed by the norm
Speaker 1: in the US. President Biden gave a stark warning while
Speaker 1: talking about the Task Force on Reproductive Healthcare Access. According
Speaker 1: to the President, the Supreme Court decision to overturn Roe v. Wade,
Speaker 1: it's not enough for the Republican Party, He says. If
Speaker 1: the Republicans win Congress this year, states that retained abortion
Speaker 1: access rights could lose that as well, and the Congress
Speaker 1: should codify the protections of row and do it once
Speaker 1: and for all. But right now, we have. We're sure
Speaker 1: a handful of votes. It's the only way it's going
Speaker 1: to happen is if the American people make it happen.
Speaker 1: At least fifteen states have stopped nearly all abortion services
Speaker 1: since the Supreme Court abortion ruling in June. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven hundred journalists and analyst,
Speaker 1: are more than a hundred twenty countries. I'm Michael Barren.
Speaker 1: This is Bloomberg Naked. Thanks Michael on Wall Street time
Speaker 1: for the Bloomberg Sports that date. He did it. John
Speaker 1: stan Shower, indeed, Mathan Aaron. Judges pursuit of Roger Marris
Speaker 1: finally over number sixty two hit in game number one
Speaker 1: sixty one. It became apparent a few months ago that
Speaker 1: it might be tough for Judge to reach Barry Bonds
Speaker 1: in seventy three. But then Roger Marris's America League record
Speaker 1: of sixty one was in reach. He hit his sixtieth
Speaker 1: over two weeks ago. Took him eight games. You had
Speaker 1: the sixty one and five more games without a homer,
Speaker 1: including the opener the doubleheader in Texas. But Judge let
Speaker 1: off the second game with a shot to left field
Speaker 1: off the Rangers Hey sus ten Oko. All of his
Speaker 1: teammates greeted him at home played, and later Judge was
Speaker 1: asked what he'll remember about this experienced in Yankee Stadium
Speaker 1: on their feet for every single at bat. You know,
Speaker 1: they're booing pitchers for throwing balls, you know, which I've
Speaker 1: never I've never seen before. And you know, I think
Speaker 1: I got a base at the other night and I
Speaker 1: was getting booed for a single. You know, it's just
Speaker 1: you know, a little moments like that you look back on.
Speaker 1: You know, would have been great to do it at
Speaker 1: Yankee Stadium in front of our home fans, but I
Speaker 1: know a lot of Inkee fan travel travel well, and
Speaker 1: there's a lot of Yankee fans here tonight. Of course,
Speaker 1: this record got so much attention because it's also the
Speaker 1: so called clean record Bonds, Mark McGuire, Sammy Sosa's seasons
Speaker 1: all tainted by steroid US. Yankees beat the Rangers five four,
Speaker 1: then lost three to two. They finished the season today
Speaker 1: going for their one win, and then in the division
Speaker 1: series they'll play either Cleveland or Tampa Bay. The Mets
Speaker 1: swept the double header from Washington four two and ain't nothing.
Speaker 1: They've won a hundred games, but they'll finish second behind Atlanta,
Speaker 1: who clined to The Mets will face San Diego in
Speaker 1: the best of three wild Cards series at City Field
Speaker 1: that starts on Friday. John stash were Bloomberg Sports. Nathan,
Speaker 1: all right, John, thank you, it's thirty seven on Wall Streets.
Speaker 1: Time for the Tri State Business Report. Here's Bloomberg Scott car.
Speaker 1: The demand for office space continue to fall. In August,
Speaker 1: VTS is monthly tracker of office space demand found demand
Speaker 1: for new office space in New York felled by twenty
Speaker 1: two point eight percent. There atalyst state, companies are still
Speaker 1: trying to figure out how much space they'll need permanently
Speaker 1: in a post pandemic world. New Jersey Governor of Film
Speaker 1: Murphy announced the launch of the state's Clean Buildings Working
Speaker 1: Group at this week's Clean Energy Conference. The group will
Speaker 1: bring together stakeholders and experts to inform the decision making
Speaker 1: process for greener, cleaner buildings in the Garden State. The
Speaker 1: co founders of City Pickle in New York say they
Speaker 1: discovered pickle ball, which combines elements of tennis, bad mitten
Speaker 1: and ping pong during the COVID lockdown, but we're dismayed
Speaker 1: to learn there were no indoor playing facilities in the city,
Speaker 1: so they'll open one in Queens sometime in next year's
Speaker 1: first quarter. Reports called pickleball the fastest growing sport in
Speaker 1: the country, with four point eight million players. That's the
Speaker 1: Bloomberg Try State Business Report. I'm Scott Carr, Thanks, Scottivet
Speaker 1: eight on Wall Street. Bloomberg Radio is on the air
Speaker 1: from San Francisco to New York, London to Hong Kong.
Speaker 1: Let's check in with our global news team for some
Speaker 1: of the top stories heard on our three hundred affiliate
Speaker 1: radio stations around the world. I'm Steve Poto Scott ten
Speaker 1: ten Wins in New York. We're talking about international law
Speaker 1: firm Clifford Chance reducing it's Manhattan office footprint. UM Corney
Speaker 1: Donahoe on kerl Dan, Dallas. Amazon is discontinuing it's Amazon
Speaker 1: Glow Kids video. Calling to Bike, I'm Gina servet I
Speaker 1: in for w c CEO in Minneapolis. I'm talking about
Speaker 1: Tupperware now being sold in Target stores. I'm Denise Peligridy
Speaker 1: at on w BZ in Boston. I'm reporting on how
Speaker 1: we could be about to hear more on rules for
Speaker 1: sports fotting. I'm Caroline Head Company back Dave Digital Radio
Speaker 1: in London. We've been reporting on the pressure on Prime
Speaker 1: Minister Listrass at the end of a turbulent and Conservative
Speaker 1: party conference. I'm Scott Carr on w d c H
Speaker 1: in Washington. I'm reporting the pandemic almost seemed to help
Speaker 1: the hospitality industry in one Virginia town. And those are
Speaker 1: some of the stories. Are twenty hundred Bloomberg journalist and
Speaker 1: analysts working on this morning around the world. It's five
Speaker 1: thirty nine on Wall Street. The following is an editorial
Speaker 1: from Bloomberg Opinion. This sedatorial was written by the Bloomberg
Speaker 1: Editorial Board. After days of insisting there'd be no backtracking
Speaker 1: on them many budget that caused panic in financial markets,
Speaker 1: the UK government duly reversed itself this week. Prime Minister
Speaker 1: Liz Trusts and Finance Minister Quasi Quarteng confirmed on Monday
Speaker 1: that a promise cut in the top rate of income
Speaker 1: tax would be canceled. This sudden reversal could give the
Speaker 1: administration a second chance, so long as Trusts offers further
Speaker 1: ressurances that shall be cautious. Among other things, this will
Speaker 1: mean patching things up with the European Union, taking advice
Speaker 1: from the Office for Budget Responsibility on taxes and spending,
Speaker 1: and consulting the Bank of England on the interaction of
Speaker 1: fiscal and monetary policy. Investors need to see more signs
Speaker 1: of prudence from the UK's new government, but reversing a
Speaker 1: misguided tax plan was a good start. This editorial was
Speaker 1: written by the Bloomberg Editorial Board. For more Bloomberg opinion,
Speaker 1: please go to Bloomberg dot com, slash opinion or op
Speaker 1: i n go on the Bloomberg terminal. This has been
Speaker 1: Bloomberg Opinion and you can hear Bloomberg opinion editorials every
Speaker 1: weekday at this time. Terminal customers can read more at
Speaker 1: O P I n go. Future is moving lower this morning.
Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather.
Speaker 1: Rain will taper off to showers and should be done
Speaker 1: by this evening. We'll get up to your sixty degrees
Speaker 1: low seventies with sunshine tomorrow and Friday. Right now fifty
Speaker 1: six in Central Park markets, headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot Com, at Bloomberg
Speaker 1: Business at and at Bloomberg quick Take. This is a
Speaker 1: Bloomberg Business lash and I'm Karen Moscow and US stock
Speaker 1: index futures and European shares are falling as investors skilled
Speaker 1: on their optimism for less talkish central banks and sink
Speaker 1: more evidence that inflation is moderating. If you check the
Speaker 1: markets every fifteen and it's sill not the trading day
Speaker 1: on Bloomberg right now, SMP futures are down about twenty
Speaker 1: eight points down, futures down two d twenty three and
Speaker 1: as day features down eighty five. The decks in Germany
Speaker 1: is down about eight tenths of upper sent ten. Your
Speaker 1: treasury down eighteen thirty seconds. You have three point seven
Speaker 1: zero percent they yield on the two year four point
Speaker 1: one two percent nine max. Screwed oil is down six
Speaker 1: tents per cent or fifty three cents at eighty five
Speaker 1: dollars ninety cents a barrel coll MIxS gold is down
Speaker 1: half percent or eight dollars thirty cents at seventeen twenty
Speaker 1: two twenty announced. The euro is at point nine six
Speaker 1: against the dollar. British found one point one four one
Speaker 1: five the yen one four point three six and Big
Speaker 1: Coin this morning down one percent at twenty thousand, one
Speaker 1: hundred thirty dollars. Today we are watching for our word
Speaker 1: on private pay rolls out at eight fifteen Wall Street
Speaker 1: time in eight thirty, it's a trade balance. And at
Speaker 1: ten and look at service industries and that's a Bloomberg
Speaker 1: business flash. Now here's Michael Barr with more on what's
Speaker 1: going on around the world. Michael, thank you very much. Karen.
Speaker 1: Recovery efforts continuing in Florida and made the devastation left
Speaker 1: by Hurricane and I and President Biden plans to visit
Speaker 1: the state today. United Airlines is said to be restarting
Speaker 1: Hong Kong flights as soon as January. It's one of
Speaker 1: a handful of major airlines to resume passenger flights to
Speaker 1: the city, which has largely been cut off to the
Speaker 1: outside world since the start of the pandemic. In baseball,
Speaker 1: Yankee slugger Eron Judge had a sixty second home run
Speaker 1: of the season to break Roger Merras's American League record.
Speaker 1: It happened in Game one as the Yankees split a
Speaker 1: double header with Rangers. The Mets swept the doubleheader against
Speaker 1: the Nationals bought. The Braves still clinched the NL East
Speaker 1: with a win over the Marlins, the Red Sox and
Speaker 1: A'SE one. The Giants lost. Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quick Take, powered
Speaker 1: by more than twenty dred journalist and analysts more than
Speaker 1: a hundred twenty countries. Michael Barr and this is Bloomberg
Speaker 1: NA sixty two is number gonna be SA from a long,
Speaker 1: long time. Thank you, Michael. It is five nineteen on
Speaker 1: Wall Street Life from the Bloomberg Interacted Broker studios. This
Speaker 1: is a Bloomberg Daybreak. But the other big number of
Speaker 1: the morning is that's the amount and the dollars per
Speaker 1: share that Elon Musk now says he will go ahead
Speaker 1: and purchase Twitter with forty four billion dollar buyour deal
Speaker 1: is back on capitulation. Perhaps let's ask Alex Web Bloomberg
Speaker 1: Quick Take correspondent tech calumnists for Bloomberg Opinion. Well, at
Speaker 1: least we know that he's gonna avoid a court fight now, Alex.
Speaker 1: But what's behind it? It is partly one assumes it's
Speaker 1: hard to know for sure at any one time what
Speaker 1: Ellen is thinking, but one assumes that it is a
Speaker 1: desire to evade that court flight. The the singles weren't
Speaker 1: looking good heading into it. There have been a number
Speaker 1: of early hearings, about half dozen, of which Elon had won.
Speaker 1: None of them. He had lost in every single case
Speaker 1: in terms of trying to push the court hearing back
Speaker 1: to February, in terms of trying to stop Twitter from
Speaker 1: getting more data on his communications with the bankers, the
Speaker 1: Judd ruled on Twitter's side every time. It didn't look
Speaker 1: very good. And therefore, why go through the punishment of
Speaker 1: having to sit on this sand, experience more frankly damaging
Speaker 1: discovery and end up losing anyway, You might as well
Speaker 1: just you know, call us spade a spade and suck
Speaker 1: it up. So now does this raise the question that
Speaker 1: came up even before this quarter fight was even in
Speaker 1: the picture, whether Elon Muskin line up the financing for
Speaker 1: forty four billion dollar buyouts. It certainly seems as though
Speaker 1: the financing is in place. The bigger question is how
Speaker 1: um how ready other banks to stomach the fact that
Speaker 1: the you know, interest rate environment is considerably different from
Speaker 1: how it was six months ago. It's about twelve and
Speaker 1: a half billion dollars in financing that have been lined up,
Speaker 1: some of those unsecured, about three billion unsecured. You know,
Speaker 1: the yields that they had been talking about at the
Speaker 1: time when they particularly we're going to turn around and
Speaker 1: refinance it with institutional investors were maybe eleven and a
Speaker 1: half percent comparable notes and now going for fifteen. So
Speaker 1: it's a far more challenging environment for them. We've seen
Speaker 1: some banks take take big hits already on other deals
Speaker 1: that they had agreed financing for before or um interest
Speaker 1: before rate started to go up. You know, they could
Speaker 1: be some institutions here facing costs in the in the
Speaker 1: sort of hundreds of millions of dollars range. I mean,
Speaker 1: that just speaks to what the environment looks like for
Speaker 1: leverage buyouts more broadly, I mean, are the banks willing
Speaker 1: to to stomach those kind of losses? I mean, presumably
Speaker 1: if they've already committed to doing it, it's hard for
Speaker 1: them to back out and there and you're just going
Speaker 1: to have to perne it up. But Elon is talking
Speaker 1: about having a he's positing a new business models, which
Speaker 1: one assumes are partly intended at least to assuage some
Speaker 1: of the concerns that these banks have. But uh, you know,
Speaker 1: it doesn't necessarily mean they're going to avoid any pain whatsoever.
Speaker 1: To your point about the business models, very interesting to
Speaker 1: see after this deal was announced that it's back on again.
Speaker 1: Elon Musk tweeting about accelerating the development of X the
Speaker 1: everything app. What is that? What's he talking about? Well,
Speaker 1: we quite no, it's obviously inevitably he's something. He's he's
Speaker 1: posited in the scope of just a single tweet, he's
Speaker 1: mooted it or express the admiration in the past for
Speaker 1: services such as we Chat, that the Chinese super app
Speaker 1: owned by by ten Cent, which is really a portal
Speaker 1: to not only many Chinese people's um online existence, but
Speaker 1: sometimes their real world existence as well. You can order food,
Speaker 1: you can pay your bills, go on dating apps, play
Speaker 1: games all through this single app. Now, the challenges that,
Speaker 1: on the one hand, to make that sort of vibrant
Speaker 1: ecosystem happen, you need to have a lot of developers
Speaker 1: willing to and and companies willing to bring their products
Speaker 1: and services to your app. Twitter, with about two million
Speaker 1: daily active users is far less appealing for a developer
Speaker 1: than would be say the iPhone, which has in the
Speaker 1: order of one and a half billion active users or
Speaker 1: indeed and systems remember phones that run Android to Google's equivalent.
Speaker 1: If it did have that sort of scale, then it
Speaker 1: starts to encounter maybe some regulatory difficulties because if it
Speaker 1: is frankly leaning on companies to to bring their services
Speaker 1: to its app in order to find these users, the regulators,
Speaker 1: particularly in Europe, do not like it when you leverage
Speaker 1: strength in one market to find strength in another one
Speaker 1: that is seen as anti competitive, and so it's it's
Speaker 1: a it's a knotty solution. If he can make it happen,
Speaker 1: then presumably he can deliver huge amount of value. But
Speaker 1: it's not an easy path and not one that frankly,
Speaker 1: any company in Europe or the US has managed to
Speaker 1: achieve just yet, which we had more time, so much
Speaker 1: to get to when it comes to this story we've
Speaker 1: been following for so many months and it's going to continue.
Speaker 1: Alex Web Bloomberg Opinion tech calonists of course, a correspondent
Speaker 1: for Bloomberg Quick take and taking a look at the
Speaker 1: shares of Twitter right now, a little bit shy of
Speaker 1: the offer price down about a half percent in early trading.
Speaker 1: As far as Tesla goes sometimes move in tandem. Tesla
Speaker 1: shares are down one broader markets lower as well. S
Speaker 1: and P futures are down twenty eight points. Staff futures
Speaker 1: down two thirty one and NASDAC futures are lower by
Speaker 1: eighty five points. You're listening to Bloomberg Daybreak Bloomberg eleven
Speaker 1: three oh weather. This rainal taper off should be done
Speaker 1: by this evening. We'll get down up to sixty degrees,
Speaker 1: low seventies, sunshine for the rest of this week. Right
Speaker 1: now fifty six and cloudy in Central Park, and it's
Speaker 1: now five oh seven on Wall Street. We have got
Speaker 1: wet roads this morning, root eighties closed both ways in
Speaker 1: Patterson and it's fifty six degrees right now in Central Park.
Speaker 1: Let's bring in Michael Barr for a check of what
Speaker 1: else is going on in New York and around the
Speaker 1: world this morning. Good morning, Michael, Good morning Nathan. The
Speaker 1: New York Division of the Drug Enforcement Administration and local
Speaker 1: law enforcements say they've made a significant seizure of Rainbow
Speaker 1: fentinil in Manhattan. The seizure of nearly fifteen thousand has
Speaker 1: happened on September when the vehicle under surveillance by the
Speaker 1: d A was stopped outside the Lincoln Tunnel. Bridget Brennan
Speaker 1: is New York City Special Narcotics Prosecutor. They approached the
Speaker 1: car and found Letitia Bush in the rear seat with
Speaker 1: two black chote bags and a yellow Lego container. Right
Speaker 1: there inside the Lego container where several brick shaped packages
Speaker 1: covered in black tape line next to lego blocks. Prosecutor
Speaker 1: Brennan says, Bush was arrested. D E A Special Agent
Speaker 1: in charge Frank Tarantino, This is deliberate, this is calculated.
Speaker 1: This is treacherous deception to market rainbow fenceanel like candy.
Speaker 1: Frank Tarantino with the DNA says, with Halloween approaching, these
Speaker 1: newly packaged poisons are parents worst nightmare. Mourners will say
Speaker 1: their final goodbyes to an f d n Y E
Speaker 1: m S Lieutenant. Funeral services take place today for Alice
Speaker 1: and Russo Elling and Brookville. She was fatally stabbed last
Speaker 1: week and an unprovoked attack. The f d n Y says.
Speaker 1: Russo Elling, who was sixty one, will be posthumously promoted
Speaker 1: to captain today President Biden will had to Florida today
Speaker 1: to meet with Governor Rond De Santis. Days after hurricane
Speaker 1: and founded Florida Southwest Cruise is still conducting door to
Speaker 1: door searches for survivors. Fort Myers Beach Mayor Ray Murphy
Speaker 1: nobody was spared this storm. Every structure on the islands
Speaker 1: a second. Mayor, Murphy says the city will rebuild. President
Speaker 1: Biden will be in New York State tomorrow. The President
Speaker 1: heads to a job's event hosted by IBM and a
Speaker 1: pair of fundraisers ahead of November's mid term elections. The
Speaker 1: White House Officials says the trip will include a visit
Speaker 1: to the IBM campus in Poughkeepsie. Biden is later expected
Speaker 1: to travel to New Jersey for a fundraiser hosted by
Speaker 1: the Democratic National Committee. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quickday, powered by more
Speaker 1: than seven hundred journalists to listen more than twenty countries.
Speaker 1: Michael Barr, this is Bloomberg, Nick, Yes, it is thank you, Michael.
Speaker 1: Five oh nine on Wall Street time for the Bloomberg
Speaker 1: Sports update in our real top story this morning from
Speaker 1: John Show. Are the next preseason game that they've been
Speaker 1: playing baseball, Nathan America leave for a hundred twenty years.
Speaker 1: And the three most home runs in a single season,
Speaker 1: all by Yankee outfielders. The sixty hit by Babe Ruth
Speaker 1: nine seven, the sixty one hit by Roger Maris nineteen
Speaker 1: sixty one and now sixty one years later, move over,
Speaker 1: Roger Maris. Aaron Judge led off the second game of
Speaker 1: a doubleheader in Texas. Here's the one one swing on
Speaker 1: there goes take lockin us hot let us far hut
Speaker 1: us come number sixty two to set the new American
Speaker 1: League records. Aaron Judge hits the sixties second all the
Speaker 1: Yankees out of the dugout took w f an it
Speaker 1: came up the Rangers. Hey sus Tonoko is third pitch
Speaker 1: of the game, a slider the Judge into the left
Speaker 1: field stands, caught there by a guy who is apparently
Speaker 1: a wealthy banker and so far anyway, holding onto the ball.
Speaker 1: Judges season amazing twenty three more home runs than anyone
Speaker 1: else in the Lee only forty four fewer home runs
Speaker 1: in the entire Detroit Tigers. And oh, by the way,
Speaker 1: he's gonna be a free agent after the season. Yankee
Speaker 1: split the double header. They learned their opponent in the
Speaker 1: division series will be the winner of the wild card
Speaker 1: series between Cleveland and Tampa. Bay Mets learned their opponent
Speaker 1: in their wild card series this weekend at City Field
Speaker 1: will be the San Diego Padres. Mets swept the double
Speaker 1: header from Washington, but Atlanta Clints the NL East will
Speaker 1: the win. In Miami, the Islanders locked up Matthew Barzel
Speaker 1: new eight year, seventy three million dollar contract. John STAPs
Speaker 1: were Bloomberg Sports Nathan okay, John, thank you. SMP futures
Speaker 1: right now are down twenty nine points, DAL futures down
Speaker 1: two in to thirty eight, NASTAC futures are lower by
Speaker 1: ninety two points. The ten year treasuries down eighteen thirty seconds,
Speaker 1: the yield old three point seven zero percent yield on
Speaker 1: the two year four point one two and n I'm
Speaker 1: ex screwed right now down six cents percent at eighty
Speaker 1: six dollars. Two cents of barrel, Musk and Twitter back
Speaker 1: together again. You check in next to Bloomberg's Alex Webb
Speaker 1: Bloomberg eleven three oh weather raintapers off the showers this
Speaker 1: afternoon breezy, cool with a high near sixty degrees, clearing
Speaker 1: out tomorrow getting back into the low seventies, and we'll
Speaker 1: keep it there on Friday. Right now, fifty six in
Speaker 1: Central Park Life from the Bloomberg Interactive Berger Studios. This
Speaker 1: is Bloomberg day Break for Wednesday, October two. Coming up
Speaker 1: the shower. Elon Musk agrees to buy Twitter and it
Speaker 1: provides a glimpse of his plans for the social media network.
Speaker 1: Less Trust addresses her party as the Prime Minister works
Speaker 1: to get her economic agenda back on track, and the
Speaker 1: Fed won't let up official signal no plans to slow
Speaker 1: interest rate hikes. New York City authorities and the d
Speaker 1: e A announce a big bust of rainbow fentomil plus.
Speaker 1: President Biden heads to Florida today to look at Hurricane
Speaker 1: its destruction. I'm Michael lair More Ahead, I'm John stash
Speaker 1: Our Sports Baseball History Aeron Judge in his record breaking
Speaker 1: sixty second home ro on the Atlanta Brade, is Clints
Speaker 1: the n l E. That's all s traded ahead on
Speaker 1: Bloomberg Daybreak on Bloomberg eleven Free on New York, Bloomberg
Speaker 1: on Washington, d c Bloomberg one of those six one Boston,
Speaker 1: Bloomberg nine sixty San Francisco, sirius x AM one nine
Speaker 1: team and around the world on Bloomberg Radio dot com
Speaker 1: and via the Bloomberg Business app. And Good Morning, I'm
Speaker 1: Parent Moscow. I'm Nathan Hagar. Bloomberg Daybreak is brought to
Speaker 1: you by SEI, built on advanced technologies and fifty years
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Speaker 1: slash Managers and us dock Index Futures are lower this
Speaker 1: morning where at five oh one on Wall Street, and
Speaker 1: we checked the markets every fifteen minutes about the trading day.
Speaker 1: On Bloomberg SNP Future is down twenty eight points this
Speaker 1: morning down Future is down two thirty three and as
Speaker 1: dead features down to ninety four. The tenure Treasury down
Speaker 1: nineteen thirty seconds. He had three point seven one per cent.
Speaker 1: Nathan Karen, We'll get back to markets in a minute,
Speaker 1: but first we begin with Elon Musk reviving his bid
Speaker 1: to buy Twitter. He will make the acquisition after all,
Speaker 1: at the original price of fifty four dollars twenty cents
Speaker 1: a share. Now, attention turns to the path ahead for
Speaker 1: Musk and Twitter. Ross Gerbert with Gerber Kawasaki says the
Speaker 1: world's richest man could be in for a bumpy ride.
Speaker 1: He's paying the highest price possible. He's trying to get
Speaker 1: dead at the worst time possible. He's basically being forced
Speaker 1: to buy this company. It's not like he changed his heart.
Speaker 1: I think his lawyers just told him he was gonna lose.
Speaker 1: This is a mess. Ross Gerber with Gerbert Kawasaki says
Speaker 1: Musk is acquiring the company with employee morale at an
Speaker 1: all time low. Twitter shares closed twenty two percent higher yesterday.
Speaker 1: Tesla shares jumped on the news as well. They climbed
Speaker 1: nearly three percent This morning. Tesla is down about one
Speaker 1: percent in early trading. Well. Turning to the broader markets now,
Speaker 1: Nathan US futures are lower following two days of gains.
Speaker 1: Optimism for so called FED pivot maybe waning. Phil Palumbo,
Speaker 1: CEO of Palumbo Wealth Management, says this week's gains are
Speaker 1: likely a bear market rally to reduce some of the
Speaker 1: risk football. We've been investing in cash right now, and
Speaker 1: we're taking advantage of all two. As we're in this
Speaker 1: bear market and as we believe things will get worse,
Speaker 1: will put those Moneys to work in good quality businesses
Speaker 1: as long term investors. And Phill Palumbo with Palumbo Wealth
Speaker 1: Management says he expects inflation to fall from here, but
Speaker 1: he also predicts the volatility will continue now. The drop
Speaker 1: in futures Karen follows more hawkish rhetoric from several central
Speaker 1: bank officials. FED Governor Philip Jefferson says reducing inflation will
Speaker 1: likely require a period of weak growth to ease demand. Also,
Speaker 1: speaking yesterday, San Francisco FED President Mary Daily, who called
Speaker 1: inflation a corrosive disease. Right now, the pain that I
Speaker 1: hear every day, the suffering that people tell me they're
Speaker 1: going through, is on the inflation side. And this is
Speaker 1: true of low and moderate income people, not just people
Speaker 1: who are worried that inflation expectations will drift. They're worried
Speaker 1: about their day to day living. Let's stay tuned for
Speaker 1: more from San Francisco FED President Mary Daily will sit
Speaker 1: down with her for an interview live on Bloomberg Radio
Speaker 1: and Television coming up at ten fifteen am. Wall Street Time.
Speaker 1: Well Nathan Overnight saw stocks in Asia rally for a
Speaker 1: second straight day. Traders are betting that the global monetary
Speaker 1: policy tightening cycle will soon ease, and Bloomberg JULIETT. Sally
Speaker 1: joins us from Singapore with the latest. Good morning Juliette,
Speaker 1: Good morning Karen. The regional benchmark index climbed as much
Speaker 1: as one point eight percent, led by a surgeon consumer
Speaker 1: discretionary and tech stocks like T s MC and Ali Baba,
Speaker 1: and that brought the measures two day rally to more
Speaker 1: than a four percent, the best two day games since
Speaker 1: March Stokes in Hong Kong, the region's best performance. The
Speaker 1: benchmark Hang Sang Index jumping more than five percent as
Speaker 1: trading resumed following a holiday, and the Kiwi in New
Speaker 1: Zealand bonds rallied as the ABENZ followed up with yet
Speaker 1: another fifty basis point hike, the fifth in a in Singapore.
Speaker 1: Juliette Sally Bloomberg daybreak. Okay, Juliet Thanks. Turning to Europe,
Speaker 1: now we have an eye on UK politics. This morning,
Speaker 1: Prime Minister Liz Trust is set to give a speech
Speaker 1: aimed at reviving her beleaguered premiership. She will address her
Speaker 1: Conservative party at the annual Tory conference in Birmingham. Bloomberg's
Speaker 1: James Wilcock is there and joins us with the very latest.
Speaker 1: Good morning James, Good morning Karen and Nathan. Liz. Trust's
Speaker 1: honeymoon is over now. After humiliating U turn and market chaos,
Speaker 1: she needs to prove to the Conservative party that elected
Speaker 1: her only a month ago that she can actually lead
Speaker 1: the government. She looked knowledge that struggled in her speech,
Speaker 1: saying wherever there is change, there is disruption. But even
Speaker 1: ahead of that speech, divisions in her party are coming
Speaker 1: to light. Even members of the Prime Minister's top team
Speaker 1: are in open disagreement over what to do next. In Birmingham,
Speaker 1: I'm James Wilcock, Bloomberg Daybreak, Right, James, thank you to
Speaker 1: politics here in the US now or Donald Trump is
Speaker 1: back in focus. The former president is asking a Supreme
Speaker 1: Court to let a court appointed actional master review classified
Speaker 1: documents sees from his Mara Lago home. To move escalates
Speaker 1: the Justice Department's investigation and to whether Trump or his
Speaker 1: aids illegally took sensitive government records when he left office
Speaker 1: and obstructed repeated efforts to recover them. In New York,
Speaker 1: Heren we got word. Micron Technology plans to invest as
Speaker 1: much as a hundred billion dollars over the next twenty
Speaker 1: years to build a factory in the state. It's the
Speaker 1: latest bid to boost US production of memory chips. Governor
Speaker 1: Kathy Hokel says it will create about fifty thousand jobs
Speaker 1: in New York State. We believe that this is going
Speaker 1: to be a catalyst not just for this company and
Speaker 1: jobs to come here, but also the supply chain companies
Speaker 1: that will say, you know, I don't want to manufacture overseas.
Speaker 1: There's so many disruptions. New York Governor Kathy Hokeel spoke
Speaker 1: with David Weston on Bloomberg's Balance of Power. Catch the
Speaker 1: program weekdays at noon on Bloomberg Radio and Television. Well
Speaker 1: turning to corporate news now Nathan Amazon is pausing hiring
Speaker 1: for corporate positions and its retail business. It's the latest
Speaker 1: sign that Amazon is adjusting its workforce to slowing online sales.
Speaker 1: Sources say the company will pause re crewman until the
Speaker 1: end of a year. The freeze does not apply to
Speaker 1: its warehouse network, where most of its employees work and
Speaker 1: kareny E. Cigarette manufacturer Jewel has begun talks for funding
Speaker 1: for a potential Chapter eleven bankruptcy. That's according to people
Speaker 1: with knowledge of the preparations. They aren't final. The plans
Speaker 1: could change. A Jewel spokesman says the company is still
Speaker 1: considering other avenues. Looking ahead to the market, open futures
Speaker 1: are moving lower. We see SMP futures right now down
Speaker 1: thirty three points. Down futures are down two hundred sixty two,
Speaker 1: and NASTAC futures are lower by a hundred three points.
Speaker 1: The tenure treasury is down eighteen thirty seconds. You'ld three
Speaker 1: point seven zero percent. You'ld on the two year four
Speaker 1: point one two Imax screws down six tenths percent at
Speaker 1: eighty six oh one a barrel, and the British pound
Speaker 1: at one point one four one four against the dollar.
Speaker 1: Straight ahead, your latest local headlines and a check of sports.
Speaker 1: This is Bloomberg