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Speaker 1: Markets, headlines and breaking news twenty four hours a day

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Speaker 1: at Bloomberg dot Com, the Bloomberg Business Out and at

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Speaker 1: Bloomberg Quicktake. She's a Bloomberg Business Flash and I'm Karen

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Speaker 1: Moscow futures are lower this morning. We check the markets

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Speaker 1: all day long here on Bloomberg. SNP futures down seven

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Speaker 1: points or two tens of uppercent. NASDAG futures down two

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Speaker 1: tens of upper cents. So were down futures NASDAG futures

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Speaker 1: down twenty points down. Futures down seventy one. The decks

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Speaker 1: in Germany's down two tens of uppercent as well. Ten

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Speaker 1: year treasury up five thirty seconds. You'ld three point six

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Speaker 1: four percent yield on the two year four point two

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Speaker 1: zero percent. NIMEX screwed oil is up one percent of

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Speaker 1: a dollar forty one. It's seventy nine dollars seventy cents

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Speaker 1: of barrel. Call mex School. That'll change at eighteen twenty

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Speaker 1: four and ninety announced the euro one point six one

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Speaker 1: seven against the dollar, The British found one point to

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Speaker 1: zero four five and again one thirty two point eight,

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Speaker 1: and bitcoin is up a quarter percent. It's at sixteen thousand,

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Speaker 1: eight hundred dollars. And that's a Bloomberg business flash, Nathan, Okay, Karen,

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Speaker 1: thanks six fifty six on Wall Street. Bloomberg surveillance is

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Speaker 1: straight ahead. First, we want to take a look at

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Speaker 1: stock some of the individual movers in the early going.

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Speaker 1: We're joined live now by Bloomberg Markets Live correspondent Tatiana

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Speaker 1: dari A. Well, so much for the Santa rally after

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Speaker 1: FedEx and Nike and the consumer confidence numbers yesterday, here

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Speaker 1: comes Micron Technologies with a macro lump of coal, Tatiana, exactly, Nathan,

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Speaker 1: sending another warning about consumer demand. There will Micron here

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Speaker 1: taker m you, the largest use maker of memoryships moving

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Speaker 1: lower by three percent in the pre market after reporting

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Speaker 1: some disappointing earnings making and delivering a weak Salves forecast,

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Speaker 1: and also some cust cutting measures, including plans to cut

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Speaker 1: the workforce by ten percent. The company blames it all

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Speaker 1: on an industry glat that that's worse than thirteen years

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Speaker 1: according to the CEO. That's, of course as um now

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Speaker 1: Sammy's are having to deal with glot after not being

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Speaker 1: able to produce enough just you know, less than a

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Speaker 1: year ago. Remember the chip shortage. Well now they're producing

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Speaker 1: and are keeping inventories that are higher. And that's as

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Speaker 1: people you know, have shelved their purchases of personal computers

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Speaker 1: and smartphones as they returned back to work and didn't

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Speaker 1: need anymore. And also amid rising inflation and and uncertain economy,

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Speaker 1: especially um as you look at those recession concerns parking

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Speaker 1: up and the layoffs here picking up as well. Well,

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Speaker 1: we know that semi's have been struggling with demand, right

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Speaker 1: if you look at the stock, shares are down about

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Speaker 1: forty five percent this year, under performing the Philadelphia Semiconductor Index.

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Speaker 1: But the disappointing results here are nonetheless worrying for the

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Speaker 1: tech industry particularly, but for the Broadway economy as a whole. Yeah,

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Speaker 1: I also see your keeping an eye on Tesla shares

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Speaker 1: this morning. Not a whole lot of movement, but it

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Speaker 1: looks like the electric vehicle makers dangling some incentives again exactly,

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Speaker 1: it's moving. It's higher by about half a percent here.

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Speaker 1: I'm not sure the move will will hold, to be honest,

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Speaker 1: I think it's just, you know, seeing some relief after

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Speaker 1: four days of losses in a really tough year. Frankly,

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Speaker 1: but The story this morning is the Tesla's offering US

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Speaker 1: consumers seven thousand, five hundred dollars to take delivery of

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Speaker 1: its two cheapest models before year and and that's doubled

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Speaker 1: the discount of what the company was offering earlier this month.

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Speaker 1: So I guess, you know, for those who haven't completed

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Speaker 1: their Christmas shopping, there's a chance there. I mean, we

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Speaker 1: have to say, this is a very rare move from Tesla, right.

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Speaker 1: This is a company that had a no discount policy

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Speaker 1: for years, but it shows that the incentive is sort

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Speaker 1: of This incentive is the latest indication that CEO Musk's

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Speaker 1: prediction for an epic year of the end of the

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Speaker 1: year is not panning out as planned, that they perhaps

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Speaker 1: and need to do more on the pricing side of things,

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Speaker 1: uh to meet their goals. And perhaps investors are nagna

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Speaker 1: not gonna like that. Yeah, And I guess if nothing else,

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Speaker 1: is the season for a little bit of gifts and

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Speaker 1: maybe that's what we're seeing from Tesla this morning. Thanks

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Speaker 1: for this, Tatiana, good having on with a Bloomberg Markets

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Speaker 1: Life correspondent Tatiana dari A. Future is moving lower. SMP

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Speaker 1: futures are down five points right now down futures down

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Speaker 1: fifty nine, and Nasdaq futures are lower by seventeen points

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Speaker 1: at six fifty nine. On Wall Street, I'm Nathan Hager

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Speaker 1: alongside Karen Moscow. Bloomberg Surveillance with Tom Keene and Lisa

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Speaker 1: Brahmowitz starts right now, live from the financial capital of

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Speaker 1: the World, broadcasting across the globe. This is wbb R

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Speaker 1: New York, Bloomberg Living Frio. We are not focusing deep

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Speaker 1: and very long recession, but let's not let's not be

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Speaker 1: too markets headlines and breaking news twenty four hours a

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Speaker 1: day at Bloomberg dot Com, the Bloomberg Business at and

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Speaker 1: at Bloomberg Quick Ja. He's a Bloomberg Business last and

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Speaker 1: I'm Karen Moscow. Futures are lower this morning. We get

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Speaker 1: at the first word breaking news dance for today's morning call.

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Speaker 1: Here's Don Maloney, l good morning and good morning. Can

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Speaker 1: that's right. US futures trading in the red right now,

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Speaker 1: with the futures down seventy seven points, SUPs drop eight

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Speaker 1: n NEZ that futures are lower by two the US

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Speaker 1: ten year old at three point six four percent. Gold

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Speaker 1: is little changed. Oil trading in the green and Bitcoin

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Speaker 1: is also trading little changed. Hong Kong rose two point

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Speaker 1: seven percent overnight, while European markets are posting modest losses

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Speaker 1: this morning. And back in the US on the economic

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Speaker 1: front at a thirty g d P and initial joblos

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Speaker 1: Kane claims after the bell last night, Micron gave a

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Speaker 1: lackluster revenue outlook and look for carmacks and paychecks to

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Speaker 1: report in the pre market. Indian News the ft report

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Speaker 1: that black Rock considered buying Carlisle after the CEO left

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Speaker 1: and wrapping things up Jeffreys Coctor Market Reform over at

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Speaker 1: KBW Live from the first breaking news Tasco Bill Maloney,

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Speaker 1: care all right, Bill, thank you to hear live breaking

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Speaker 1: news over your Bloomberg type squawk on your terminal. Sue

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Speaker 1: you a w K and that's a Bloomberg business flash.

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Speaker 1: Now here's Michael Barrow with Moore on what's going on

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Speaker 1: around the world. Michael Karen, thank you very much. Ukrainian

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Speaker 1: President Voladimir Zelensky pressed the US Congress for tanks, planes

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Speaker 1: and more money to help repel Russia's invasion. In his

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Speaker 1: first trip abroad since the warsz Lensky sold a joint

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Speaker 1: meeting of Congress that US support has been crucial so far.

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Speaker 1: The reports set to be released today about the House

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Speaker 1: Investigators claims that then President Donald Trump criminally plotted to

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Speaker 1: overturn his twenty twenty election defeat and provoked his supporters

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Speaker 1: to violence at the Capitol with false claims of voter fraud.

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Speaker 1: In the NBA, the next loss the Nets down the

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Speaker 1: Warriors one for three month thirteen in the NHL, the

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Speaker 1: Devil's won Global News twenty four hours a day on

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Speaker 1: air and on bloom a quick tank powered by more

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Speaker 1: than twenty seven hundred journalists and analysts more than a

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Speaker 1: hundred twenty countries. Michael Barr and this is Bloomberg hearing,

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Speaker 1: all right, Michael Barr, thank you at a six forty

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Speaker 1: two on Wall Street. And we turned to news and

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Speaker 1: science and technology now with the Bloomberg and j I.

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Speaker 1: T Stem report, and here's just making news and science, technology,

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Speaker 1: engineering and math. Microsoft was find sixty four million dollars

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Speaker 1: by France's privacy watchdog over its management of cookies on

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Speaker 1: its Being search engine. Frances Data protection authorities that it

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Speaker 1: carried out several checks on Being in September twenty and

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Speaker 1: one and found cookies were deposited without user consent, even

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Speaker 1: though they were used for advertising purposes. The us is

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Speaker 1: first National cyber Director, Chris English, is reportedly planning to

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Speaker 1: step down in the coming months. English worked as one

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Speaker 1: of President Joe Biden's top cyber security advisers at a

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Speaker 1: time when the US was struggling to combat a steady

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Speaker 1: stream of ransomware attacks on both businesses and government agencies,

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Speaker 1: and one of the largest miners of bitcoin became the

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Speaker 1: latest company to file for bankruptcy amid the crypto Winter,

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Speaker 1: Texas based Corpse Scientific file it's bankruptcy petition, citing a

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Speaker 1: slump in bitcoin prices, high electricity costs, increased competition and

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Speaker 1: litigation as impacting performance and liquidity, and as to Bloomberg

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Speaker 1: and j I t Stem report. Nathan, Okay, Karen, thank you.

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Speaker 1: It is sixty three on Wall Street Time now to

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Speaker 1: check what's going on in DC on this morning. After

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Speaker 1: a historic night on Capitol Hill, Ukraine's President Voladimir z

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Speaker 1: Lensky urging Congress for more support in the war against Russia.

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Speaker 1: We stand, we five, and we will win because we

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Speaker 1: are united. But Ukraine aid in the massive spending bill,

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Speaker 1: making its way through Congress could be hung up over

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Speaker 1: a border policy dispute. Also making news, House Republicans report

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Speaker 1: on the January sixth assault, focusing on security lapses and

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Speaker 1: Trump allies shown taking the fifth in January sixth committee transcripts.

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Speaker 1: Let's bring in Bloomberg Government congressional reporter Jack Patrick to

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Speaker 1: get more on some of these stories. Jack, good morning.

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Speaker 1: Quite an extraordinary address from the Ukrainian president last night. Yeah,

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Speaker 1: and it got a good reception, a lot of standing

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Speaker 1: ovations from members of Congress. Uh. Really a positive reception.

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Speaker 1: Probably not surprising that they've got a positive reception, especially

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Speaker 1: from those who attended. UM, given that you know, there

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Speaker 1: have been negotiations going on in the capital about the

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Speaker 1: level of support for Ukraine, what they were going to

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Speaker 1: put in this spending bill. Uh. And especially when you

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Speaker 1: look at congressional leaders UM, really a bipartisan group other

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Speaker 1: than some House conservative Republicans. Uh. It's it's clear there

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Speaker 1: there's still a lot of support, bipartisan support in Congress

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Speaker 1: for Ukraine. And it seemed to be a motivating event

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Speaker 1: for lawmakers to hear directly from President Zelinski in person.

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Speaker 1: It'll be interesting to see whether that motivation continues into

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Speaker 1: the next Congress, when we're expecting from what we've heard

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Speaker 1: from Republicans that they're going to give a lot more

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Speaker 1: scrutiny to Ukraine AID going forward. What's your sense from

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Speaker 1: the congressional members that you've been speaking to about what

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Speaker 1: AID will look like for Ukraine under the new Congress.

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Speaker 1: You know, talking to I think leadership aligned Republicans, you

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Speaker 1: hear that there's quite a bit of support. Um, even

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Speaker 1: House Republicans who are on the Appropriations Committee who work

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Speaker 1: on these funding requests that kind of thing. Uh, there

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Speaker 1: there's a lot of support. If you're trying to pinpoint

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Speaker 1: where the questions come from. Uh, you know, there's a

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Speaker 1: conservative wing. You may have seen clips of Matt Gates

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Speaker 1: and Lauren Boebert really the only two who didn't participate

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Speaker 1: in some standing ovations who are in the chamber. Uh.

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Speaker 1: Those types of lawmakers even were critical of Zelenski giving

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Speaker 1: the speech in the first place. Um, it's a bit

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Speaker 1: of a sort of a freedom Caucus sort of Republican

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Speaker 1: who's who's not really happy about it. But uh, the

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Speaker 1: Mitch McConnell types, the leadership aligned Republicans typically have said

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Speaker 1: there's a lot of support for Ukraine. It's not going

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Speaker 1: to be no strings attached. You could get into some debates,

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Speaker 1: especially if the war ends and this turns into a

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Speaker 1: question more of economic aid and rebuilding a there's a

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Speaker 1: bit more scrutiny on the Republican side there. But as

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Speaker 1: for defense aid, especially as Ukraine continues to have success

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Speaker 1: on the battlefield, a really large portion of Republicans, in

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Speaker 1: addition to virtually unanimous support among Democrats, are are supportive

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Speaker 1: of these kinds of bills for Ukraine. Now, there is

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Speaker 1: a lot of Ukraine aid in this omnibus spending bill

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Speaker 1: that has to get past this week so lawmakers can

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Speaker 1: go home. But I guess the bill is is getting

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Speaker 1: delayed somewhat by a dispute over the Title forty two

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Speaker 1: Border policy. Yeah, Title forty two. The pandemic immigration restrictions

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Speaker 1: have really proven to be a tough issue that can

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Speaker 1: hold up bills. UH, and that's the primary issue they're

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Speaker 1: trying to work through for this whole omnibus government funding bill,

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Speaker 1: which includes about a forty five billion dollar measure for

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Speaker 1: Ukraine as well. UH. The Senate Republicans wanted to have

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Speaker 1: an amendment vote to keep Title forty two in place. Uh,

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Speaker 1: and they wanted that vote to be set at a

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Speaker 1: simple majority threshold rather than the sixty vote threshold in

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Speaker 1: the Senate that a lot of these amendments would normally get.

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Speaker 1: Now that is tricky because that potentially could pass, but

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Speaker 1: then the measure would probably fail in the House because

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Speaker 1: they're depending very significantly on Democratic votes because House Republicans

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Speaker 1: haven't signed off on this broader agreement. So they're at

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Speaker 1: the House. And uh, you know, the funding the funding

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Speaker 1: the deadline. And we're bumping up to a deadline. It

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Speaker 1: out from the House January six committee. In our last minute, here, Jack,

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Speaker 1: what are we expecting to hear? Uh? You know they

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Speaker 1: they have bumped back their full report. I think a

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Speaker 1: is has has come out to some extent in the

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Speaker 1: fifth and and refused to answer questions, even confirming their

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Speaker 1: age in place of residence. Um So, if you have

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Speaker 1: has made essentially detailing former President's Trump President Trump's centrality

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Speaker 1: and what happened in January six, you have a pretty

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Speaker 1: good idea of what's probably going to be in that report. Okay, Jack,

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Speaker 1: thanks as always, and happy holidays. If we don't speak

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Speaker 1: to you before, then that's Bloomberg Government Congressional reporter Jack

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Speaker 1: Fitzpatrick with us from the nation's capital. And you can

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Speaker 1: read much more about all these stories on Bloomberg dot

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Speaker 1: com or on the Bloomberg terminal, and follow the latest

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Speaker 1: on Bloomberg Radio in Washington. Bloomberg and one oh five

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Speaker 1: point seven FM HD two Futures moving lower this morning,

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Speaker 1: point six four per cent. You're listening to Bloomberg day

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Speaker 1: Break live from the Bloomberg Interactive Burger Studios. Is is is

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Speaker 1: Bloomberg day Break for Thursday December twenty second two. Coming

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Speaker 1: up to Shower, Ukraine's p incident leads for more support

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Speaker 1: in person to Congress. F t X executives plead guilty

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Speaker 1: US chipmaker warns more layoffs are on the way and

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Speaker 1: investors hold out hope for a brief Santa Claus Rally,

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Speaker 1: New York. Mayor Adams gives himself a B plus as

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Speaker 1: he defends his record on crime plus demand. Charred with

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Speaker 1: shooting up a Brooklyn subway car will now lead guilty

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Speaker 1: on Michael barn Or The Head, I'm John stash Our.

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Speaker 1: In sports, the Knicks Winspey came to an a easy

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Speaker 1: win for the Nets. The Devil's One in the Jets

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Speaker 1: host Jacksonville Tonight. That's all Training Ahead on Bloomberg Daybreak

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Speaker 1: on Bloomberg eleven Trio, New York Bloomberg one, Washington, d C,

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Speaker 1: Bloomberg one oh six one Boston, Bloomberg nine sixties and

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Speaker 1: Francisco Sirius x M one nine team and around the

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Speaker 1: Business App. Hey, good morning. I'm Nathan Hager and I'm

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Speaker 1: or in Moscow. You mus Stock index futures are a

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Speaker 1: little change this morning. We checked the markets all day

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Speaker 1: long here on bloomberg S and p NASDAK. Features that

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Speaker 1: now or forty two points. Nathan, Okay, Karen, thank you.

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Speaker 1: We'll get more on the markets in a moment, but

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Speaker 1: we want to begin with a historic night in Washington.

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Speaker 1: Ukraine's President vladimir's Lenski made an emotional address in person

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Speaker 1: to a joint meeting of Congress. Bloomberg's head Baxter reports

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Speaker 1: standing ovation after standing ovation from both sides of the aisle.

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Speaker 1: The message Ukraine is alive and kicking and thanking US

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Speaker 1: to go to boom shelters on Christmas Eve, Ukrainias will

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Speaker 1: each other. Zelenski says a free world will show all

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Speaker 1: potential aggressors that the world will stand up to tyranny.

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Speaker 1: He says next year will be a turning point of

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Speaker 1: the war. He presented Congress with a flag from the

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Speaker 1: war's front in San Francisco. I'm at Baxter Bloomberg Gay

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Speaker 1: break all right, and thanks. And this was President Zelenski's

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Speaker 1: first trip outside his country since the Russian invasion. In February.

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Speaker 1: Before the speech, Zelinski paid a visit to the White

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Speaker 1: House or President Biden stood by his side at a

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Speaker 1: joint news conference and pledged his continued support. I want

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Speaker 1: you to know that all the people who Ukraine to

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Speaker 1: know as well the American people were with you every

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Speaker 1: step of the way, and we will stay with you.

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Speaker 1: We will stay with you for as long as it

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Speaker 1: takes when. The Biden administration also announced nearly one point

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Speaker 1: nine billion dollars in additional military aid to Ukraine, including

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Speaker 1: a Patriot missile battery. Russian President Vladimir Putin meanwhile said

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Speaker 1: Russia has no limitations on its own military spending to

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Speaker 1: continue the war. Well, Nathan, We're following another story out

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Speaker 1: of DC this morning. A group of House Republicans has

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Speaker 1: released a counter rapport to the House Select Committee's investigation

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Speaker 1: into the January six capital assault. Seventy eight page report

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Speaker 1: partly Blame's Democratic leaders for security failures and says intelligence

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Speaker 1: and law enforcement failures left the capital complex vulnerable. The

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Speaker 1: January six Committee is a expected to release it's full

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Speaker 1: report today. A let's turn from the Capital to cryptocurrency

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Speaker 1: and get to the latest on the f t X

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Speaker 1: collapse to top executives have pleaded guilty to criminal charges.

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Speaker 1: As the former CEO of f t X, Sam Bankman Freed,

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Speaker 1: returns to the US, Bloomberg Steve Rappaport joins US Live

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Speaker 1: with that story. Good morning, Steve, Good morning, Nathan and Karen.

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Speaker 1: Spf found himself with fewer friends upon arriving in New

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Speaker 1: York last night, as Caroline Ellison and Gary Wang pled

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Speaker 1: guilty to fraud. The plea agreements say prosecutors will recommend

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Speaker 1: reduced sentences if they provide substantial assistance to the investigation.

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Speaker 1: The move puts pressure on Bankman Freed ahead of his

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Speaker 1: appearance in federal court today on charges of fraud, money laundering,

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Speaker 1: and other counts. His lawyers may seek bail. Live in

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Speaker 1: New York. I'm Steve Rappaport, Bloomberg Day Break. All right, Steve,

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Speaker 1: thank you about the pivot away from COVID zero continues

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Speaker 1: in China. This morning, we're learning China plans to cut

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Speaker 1: quarantine requirements for overseas travelers in January. Sources tell US

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Speaker 1: officials are considering a zero plus three policy that would

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Speaker 1: mean tourists would no longer be required to spend time

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Speaker 1: in a quarantine hotel or isolation facility, and arrivals into

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Speaker 1: the country would instead be Sunday to three days of monitoring.

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Speaker 1: Let's take a look at markets again, Karen. Futures are

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Speaker 1: little changed to lower this morning. When global stocks advanced

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Speaker 1: for a third day yesterday as we edged closer to

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Speaker 1: that Christmas holiday, US shairs climbed on improved consumer confidence

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Speaker 1: and better than expected earnings from FedEx and Nike. Earlier

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Speaker 1: this week, markets snapped a four day slide that was

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Speaker 1: sparked by hawkish Central bankuetering well in Asia. Nathan Stockship

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Speaker 1: staffed a losing streak of their own, coming off the

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Speaker 1: Bank of Japan surprise policy move earlier this week, and Bloomberry,

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Speaker 1: Spry and Curtis joins US from Hong Kong with more

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Speaker 1: stocks rallied in Asia, snapping five days of declines. The

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Speaker 1: biggest moves were in Hong Kong, where the benchmark index

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Speaker 1: rose about two and a half percent. Property companies led

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Speaker 1: the way after regulators said they'd support the sector's growth.

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Speaker 1: Shares also jumped in Japan, South Korea and Australia. Treasuries

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Speaker 1: rose slightly in Asia as the fallout from the Bank

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Speaker 1: of japan surprise policy shift began to EBB the En

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Speaker 1: resumed its ad dance brand Curtis Bloomberg Daybreak, Okay, Brian,

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Speaker 1: thank you a meanytime over in Europe, UK household saw

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Speaker 1: their living standards fall amid a contraction in the third quarter.

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Speaker 1: Bloomberg's You and Potts joins us from London with the

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Speaker 1: latest good Morning You and Good Morning Nathan and Karen.

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Speaker 1: Household incomes in the UK have fallen for a fourth

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Speaker 1: straight quarter, leaving Britain's on course for the worst period

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Speaker 1: for living standards in memory. Real incomes per head were

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Speaker 1: three point one percent lower in the third quarter from

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Speaker 1: a year earlier. Final GDP data meanwhile registered a no

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Speaker 1: point three percent drop in the lakes quarter more than

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Speaker 1: previously estimated. The reading is consistent with the economists expectations

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Speaker 1: that the UK is already in recession. In London, I'm

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Speaker 1: you and Pots day break, are you, and thanks for

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Speaker 1: taking a look at corporate news now, America's largest memory chipmaker,

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Speaker 1: Micron Technology, is out with a lackluster revenue outlook and

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Speaker 1: a warning that will have to trim its workforce. Bloomberg

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Speaker 1: Prisoner joins us with that story. The company has already

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Speaker 1: pledged to reduce output in slow expansion projects as a

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Speaker 1: way of limiting the availability of memory chips. Even so,

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Speaker 1: Micron's forecast indicates the glut may drag on given a

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Speaker 1: slump in demand. Sales will be about eighty million dollars

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Speaker 1: below forecast, and Micron is projecting a loss of about

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Speaker 1: sixty two cents to share excluding certain items. That's more

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Speaker 1: than twice what analysts were estimating. Given these challenges, Micron

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Speaker 1: will reduce its workforce by about ten percent over the

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Speaker 1: next year. In New York, I'm Doug Prisoner, Bloomberg Daybreak,

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Speaker 1: All right, don thank you and taking a look at

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Speaker 1: Micron right now. It's down about three percent in early

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Speaker 1: trading and futures this morning. They are little changed to lower.

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Speaker 1: SMP futures now down about a tenth of a percent

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Speaker 1: down about four points down. Futures down almost two tenths

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Speaker 1: per cent an hour forty nine points, and NASDAG futures

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Speaker 1: down about a tenth of upper center ten points. Straight

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Speaker 1: ahead your latest local headlines plus the check of sports,

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Speaker 1: and this is Bloomberg. Thanks tearing at six oh seven

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Speaker 1: on Wall Street. Clear sky thirty six degrees in Central Park.

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Speaker 1: But it is going to turn rainy and windy this

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Speaker 1: afternoon into tomorrow. Heist today in the upper forties. That

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Speaker 1: wind Advisor kicks in at ten tonight, and Michael Barr

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Speaker 1: is here with more on what's going on in New

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Speaker 1: York and around the world as we brace for this storm.

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Speaker 1: Michael Oh, Yes, Nathan, Millions of Americans taking to the

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Speaker 1: roads and skies before Christmas could face big trouble getting

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Speaker 1: to their destinations on time because of the massive winter storm.

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Speaker 1: Several major hubs, including New York City. We're all in

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Speaker 1: the path of the storm and face significant disruptions. This

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Speaker 1: man was sent it to Orlando from New York trying

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Speaker 1: to get out ahead of the storm to see his family.

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Speaker 1: We've been separated for a long time California before Night

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Speaker 1: again Christmas. It's not just air flights being canceled. Amtrak

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Speaker 1: has scrap service for dozens of routes. Also, Greyhound has

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Speaker 1: scraped some service. New York City Mayor Eric Adams defended

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Speaker 1: his record on crime, giving himself a B plus in

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Speaker 1: his first year in office. There was a rise in

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Speaker 1: major felonies through November, but Adams says though the top

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Speaker 1: line number does not tell the whole story, as he

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Speaker 1: highlighted double digit drops in the high profile murders and shootings.

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Speaker 1: Public safety is the foundation of the city. I've used

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Speaker 1: this term over and over again. It's the prerequisite to prosperity.

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Speaker 1: Without it, we won't feel the safety we deserve. Mayor

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Speaker 1: Adams went on to say that New Yorkers should feel

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Speaker 1: better about the direction we're aheaded. A New York City

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Speaker 1: court has scheduled to change the plea hearing for next

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Speaker 1: month for the manaccused of opening fire on a Manhattan

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Speaker 1: bound subway train last April, and a letter to the

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Speaker 1: court his attorney said the alleged New York City subway shooter,

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Speaker 1: Frank James, wants to plead guilty to federal terrorism charges.

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Speaker 1: James was charged with several accounts of committing a terror

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Speaker 1: attack on a mass transit system. Ten people were hurt

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Speaker 1: in the shooting fly. The CDC data confirms American life

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Speaker 1: expectancy fell for a second straight year in twenty one,

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Speaker 1: the worst since nine. It's driven by accelerating COVID and

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Speaker 1: drug overdosed depths. From men, it has dropped from seventy

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Speaker 1: four point two years to seventy three eight point five years.

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Speaker 1: For women, it's almost from eighty to seventy nine point three.

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Speaker 1: Global News twenty four hours a day on here and

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Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven

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Speaker 1: hundred journalists analysts more than a hundred twenty countries. Michael

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Speaker 1: bar This is Bloomberg. Thanks Michael. Almost six ten on

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Speaker 1: Wall Street. Time for the Bloomberg Sports Update, brought to

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Speaker 1: you by Try Stay Outing with John Stash all Right,

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00:24:44,040 --> 00:24:46,760
Speaker 1: Nathan one winning, Street ended another continued at the Guard

430
00:24:46,800 --> 00:24:50,640
Speaker 1: and Knicks couldn't stop Toronto's Pascal Siakam. He scored fifty

431
00:24:50,680 --> 00:24:52,959
Speaker 1: two points. The Raptors ended their six game loses, who

432
00:24:52,960 --> 00:24:55,560
Speaker 1: stayed one thirteen to one of the six Julius Randon R. J.

433
00:24:55,680 --> 00:24:57,520
Speaker 1: Barrett both had thirty for the Knicks, who had won

434
00:24:57,560 --> 00:25:00,399
Speaker 1: their previous eight in Brooklyn. The next winning break up

435
00:25:00,480 --> 00:25:04,080
Speaker 1: to seven, one, three to one thirteen over Golden State.

436
00:25:04,160 --> 00:25:07,560
Speaker 1: The Nets led ninety one to fifty one at halftime.

437
00:25:07,680 --> 00:25:10,240
Speaker 1: Ninety one first half points is the third most in

438
00:25:10,400 --> 00:25:12,720
Speaker 1: NBA history. The Devil three goals in third period went

439
00:25:12,760 --> 00:25:15,560
Speaker 1: fourth to it Florida and then their sixth game slide. St.

440
00:25:15,640 --> 00:25:18,600
Speaker 1: John's lost at Villanova seventy eight to sixty three. When

441
00:25:18,640 --> 00:25:20,879
Speaker 1: you saw that Derek Jeter was in attendance that the

442
00:25:20,960 --> 00:25:24,280
Speaker 1: Aaron Judge new contract press conference, you knew there was

443
00:25:24,320 --> 00:25:26,280
Speaker 1: gonna be an announcement that Judge would be named the

444
00:25:26,320 --> 00:25:28,960
Speaker 1: first Yankee captain since. Will continue to try to be,

445
00:25:29,480 --> 00:25:31,280
Speaker 1: you know, the same leader that I've been in the

446
00:25:31,359 --> 00:25:34,600
Speaker 1: past six years. Continue to lead by example, and I

447
00:25:34,760 --> 00:25:36,760
Speaker 1: know there's probably gonna be a couple of more responsibilities

448
00:25:36,800 --> 00:25:39,360
Speaker 1: with this, but you know, I'm here to embrace every

449
00:25:39,400 --> 00:25:42,080
Speaker 1: single obstacle and you know, continue to lead this team

450
00:25:42,119 --> 00:25:45,359
Speaker 1: and lead the city to to not want them, you know,

451
00:25:45,440 --> 00:25:48,800
Speaker 1: multiple championships down the road. Sixteenth captain in Yankee history.

452
00:25:48,840 --> 00:25:50,800
Speaker 1: The jetson any hopes of making the playoffs. They have

453
00:25:50,960 --> 00:25:53,600
Speaker 1: to win tonight in the Rain, I met Live. Jacksonville

454
00:25:53,680 --> 00:25:56,080
Speaker 1: comes in much improved. Jab War is only a game

455
00:25:56,119 --> 00:25:58,400
Speaker 1: out of first an FC Salve Jets are game out

456
00:25:58,720 --> 00:26:00,720
Speaker 1: for making it as a well card. The depth of

457
00:26:00,760 --> 00:26:03,560
Speaker 1: follow famer Franco Harris yesterday at the age of seventy two,

458
00:26:04,040 --> 00:26:06,600
Speaker 1: came just one day before the city of Pittsburgh was

459
00:26:06,680 --> 00:26:10,560
Speaker 1: set to celebrate the fiftieth anniversary of Harrison's famous immaculate

460
00:26:10,640 --> 00:26:13,199
Speaker 1: Reception catch, three days before the Steelers were finally going

461
00:26:13,240 --> 00:26:15,840
Speaker 1: to retire his number thirty two. The legendary pill A

462
00:26:15,960 --> 00:26:18,600
Speaker 1: now eighty two back in the hospital in Brazil. His

463
00:26:18,720 --> 00:26:21,240
Speaker 1: cancer has said to have worsen. John stash Are, Bloomberg

464
00:26:21,280 --> 00:26:23,600
Speaker 1: Sports Nathan all Right, John, thank you, and the Bloomberg

465
00:26:23,640 --> 00:26:25,520
Speaker 1: Sports Report was brought to you by Audie. Don't let

466
00:26:25,600 --> 00:26:28,680
Speaker 1: someone else drive off in the Audi model you've always wanted.

467
00:26:28,800 --> 00:26:31,560
Speaker 1: Visit your local christ State autie dealer to get behind

468
00:26:31,600 --> 00:26:34,120
Speaker 1: the wheel of yours today, or visit autie Offers dot

469
00:26:34,160 --> 00:26:36,880
Speaker 1: com for more information. We have more reaction to President

470
00:26:36,960 --> 00:26:41,119
Speaker 1: Zelenski's speech to Congress. Straight Ahead. First, futures are lower,

471
00:26:41,760 --> 00:26:44,280
Speaker 1: SMP features are down six points now down features down

472
00:26:44,320 --> 00:26:47,320
Speaker 1: sixty six and Nanstack futures on the decline by seventeen points.

473
00:26:47,359 --> 00:26:53,879
Speaker 1: Tend your Treasury Yield three point six live from coast

474
00:26:53,960 --> 00:26:57,600
Speaker 1: to coast, from New York to San Francisco, Boston to Washington,

475
00:26:57,680 --> 00:27:01,520
Speaker 1: d C. Nationwide on sirius x, the Bloomberg Business app,

476
00:27:01,560 --> 00:27:06,680
Speaker 1: and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning.

477
00:27:06,720 --> 00:27:09,080
Speaker 1: I'm Nathan Hagar on the morning after an emotional address

478
00:27:09,119 --> 00:27:12,520
Speaker 1: from Ukrainian President Voladimir Zlenski in the US capital that,

479
00:27:12,720 --> 00:27:15,879
Speaker 1: for at least one night, seemed to unite Congress in

480
00:27:15,960 --> 00:27:18,400
Speaker 1: its support for Ukraine in the face of Russian aggression.

481
00:27:18,840 --> 00:27:22,520
Speaker 1: Former Defense Secretary and ahead of the CIA, Leon Panetta

482
00:27:22,680 --> 00:27:26,520
Speaker 1: says that unity will be critical for Ukraine to connot victorious.

483
00:27:26,960 --> 00:27:30,040
Speaker 1: Leon Panetta spoke with David Weston on a special edition

484
00:27:30,160 --> 00:27:33,959
Speaker 1: of Bloomberg's Balance of Power following Zelenski's address last night.

485
00:27:34,520 --> 00:27:36,640
Speaker 1: You've seen a lot of history in Washington. You've made

486
00:27:36,680 --> 00:27:38,600
Speaker 1: your fair share. Give us your reactions to what we

487
00:27:38,640 --> 00:27:44,200
Speaker 1: saw tonight. Well, there's no question this was a very

488
00:27:44,359 --> 00:27:48,560
Speaker 1: moving and memorable speech. Uh, and I think in many

489
00:27:48,640 --> 00:27:54,560
Speaker 1: ways historic. Uh. It'll go down in history, UH very

490
00:27:54,640 --> 00:27:58,399
Speaker 1: close to Churchill UH coming to the United States to

491
00:27:58,560 --> 00:28:03,480
Speaker 1: ask for support in the battle against Nazism. UH. Tonight

492
00:28:04,520 --> 00:28:09,280
Speaker 1: we have Zelinsky going before the Congress UH and asking

493
00:28:09,840 --> 00:28:15,160
Speaker 1: for support in the war against Putin. UH. I think

494
00:28:15,280 --> 00:28:18,880
Speaker 1: this is UH. This is going to send a very

495
00:28:19,119 --> 00:28:23,400
Speaker 1: strong message. The unity that was shown tonight will send

496
00:28:23,440 --> 00:28:27,359
Speaker 1: a strong message to Putin, whose basic interest is to

497
00:28:27,440 --> 00:28:29,520
Speaker 1: break the will of the United States and break the

498
00:28:29,560 --> 00:28:32,800
Speaker 1: will of UH of Ukraine. One of the things we

499
00:28:32,920 --> 00:28:35,600
Speaker 1: heard from President Zelinski and Mr. Secretary was he thinks

500
00:28:35,640 --> 00:28:38,640
Speaker 1: that next year could well be a turning point. That

501
00:28:38,800 --> 00:28:41,440
Speaker 1: is really critical. We really bear down right now from

502
00:28:41,480 --> 00:28:43,520
Speaker 1: what you understand what's going on both of your experience

503
00:28:43,560 --> 00:28:47,040
Speaker 1: as Secretary of Defense, but also has is that plausible? Well,

504
00:28:47,080 --> 00:28:50,160
Speaker 1: there's no question that we're seeing a pivotal moment in

505
00:28:50,240 --> 00:28:53,800
Speaker 1: this war. UH. It's clear that the tide of war

506
00:28:53,920 --> 00:28:59,680
Speaker 1: has changed. It's clear that Ukraine has UH has the

507
00:28:59,800 --> 00:29:02,800
Speaker 1: up her hand here in terms of its ability to

508
00:29:02,960 --> 00:29:07,520
Speaker 1: be able to to move and gain territory and basically

509
00:29:07,920 --> 00:29:12,360
Speaker 1: take on the Russians. But the Russians and Putin have

510
00:29:12,560 --> 00:29:15,520
Speaker 1: made clear that they're not going anywhere, and that Putin

511
00:29:15,800 --> 00:29:20,960
Speaker 1: is going to basically triple down UH and continue to

512
00:29:21,160 --> 00:29:25,320
Speaker 1: do whatever he can to try to show that that

513
00:29:25,520 --> 00:29:29,240
Speaker 1: he's not going to be defeated. UH. And so the

514
00:29:29,360 --> 00:29:33,200
Speaker 1: real challenge is going to be this next year as

515
00:29:33,280 --> 00:29:37,480
Speaker 1: to whether or not the unity of Ukraine, the United States,

516
00:29:37,560 --> 00:29:41,720
Speaker 1: and our allies can hold together that we can continue

517
00:29:41,760 --> 00:29:45,920
Speaker 1: to provide the arms necessary to the Ukrainians in order

518
00:29:46,000 --> 00:29:51,040
Speaker 1: to be able to fight and to defeat this effort

519
00:29:51,120 --> 00:29:55,160
Speaker 1: by Russia. MSSRY. One of the important developments today, I believe,

520
00:29:55,520 --> 00:29:57,840
Speaker 1: was the decision by the United States government to supply

521
00:29:58,200 --> 00:30:02,280
Speaker 1: Patriot missiles H to Ukraine. Give us your sense of

522
00:30:02,360 --> 00:30:04,320
Speaker 1: what difference that can make in the battlefield. Why is

523
00:30:04,400 --> 00:30:09,560
Speaker 1: that so important? Oh, it's tremendously important because what we

524
00:30:09,680 --> 00:30:14,600
Speaker 1: see now is puting using missiles, using drones in order

525
00:30:14,680 --> 00:30:19,479
Speaker 1: to attack infrastructure and attack innocent men, women and children. UH.

526
00:30:19,600 --> 00:30:22,080
Speaker 1: And the only way to try to protect against that

527
00:30:22,280 --> 00:30:26,120
Speaker 1: is with strong air defense. I've said for a long

528
00:30:26,240 --> 00:30:30,480
Speaker 1: time that what is needed in Ukraine is a comprehensive

529
00:30:30,560 --> 00:30:36,160
Speaker 1: air defense system. I'm glad that the Patriot battery is

530
00:30:36,680 --> 00:30:39,440
Speaker 1: being provided. It's going to take some time, it's going

531
00:30:39,480 --> 00:30:42,840
Speaker 1: to take some training to put it into effect, UH,

532
00:30:42,920 --> 00:30:46,880
Speaker 1: and I believe it's probably the beginning of trying to

533
00:30:47,000 --> 00:30:59,200
Speaker 1: put together a more comprehensive air defense system. I think

534
00:30:59,240 --> 00:31:04,200
Speaker 1: when you put together a series of events, UH, that

535
00:31:04,600 --> 00:31:08,840
Speaker 1: it's sending a very strong message to Putin. The fact

536
00:31:08,920 --> 00:31:15,360
Speaker 1: that Zelinski came to Washington, met with the President, spoke

537
00:31:15,480 --> 00:31:18,520
Speaker 1: to the Congress, is going to get almost two billion

538
00:31:18,600 --> 00:31:23,880
Speaker 1: dollars in aid plus the Patriot battery. It makes very

539
00:31:23,960 --> 00:31:26,920
Speaker 1: clear that the United States is not going anywhere. Despite

540
00:31:27,560 --> 00:31:34,440
Speaker 1: Putent's threats, despite his push to indicate that somehow he'll

541
00:31:34,840 --> 00:31:37,560
Speaker 1: he'll strike back in some way, that has had no

542
00:31:37,800 --> 00:31:41,920
Speaker 1: effect in terms of the decision to help them. I

543
00:31:42,120 --> 00:31:47,560
Speaker 1: think also that President She's advice to Putin to stay

544
00:31:47,600 --> 00:31:51,800
Speaker 1: away from using a nuclear weapon carries a lot more

545
00:31:51,960 --> 00:31:56,280
Speaker 1: weight with Putin, and he knows that he could lose

546
00:31:56,720 --> 00:32:00,640
Speaker 1: his only ally if, in fact, he In gauges some

547
00:32:00,840 --> 00:32:04,880
Speaker 1: kind of battlefield nuclear weapon. So I think right now

548
00:32:05,760 --> 00:32:08,680
Speaker 1: the likelihood is that Putin is going to continue to

549
00:32:08,880 --> 00:32:12,320
Speaker 1: raise hell with cruise missiles with groans, but I think

550
00:32:12,400 --> 00:32:15,640
Speaker 1: he's going to stay away from nuclear And that was

551
00:32:15,720 --> 00:32:18,840
Speaker 1: former Defense Secretary and CIA director Leon Panetta speaking with

552
00:32:18,920 --> 00:32:22,560
Speaker 1: our David Weston on a special edition of Bloomberg's Balance

553
00:32:22,640 --> 00:32:26,680
Speaker 1: of Power following Zelinski's address to the Joint Session of Congress.

554
00:32:26,680 --> 00:32:29,480
Speaker 1: You can hear Balance of Power every weekday at noon

555
00:32:29,600 --> 00:32:33,800
Speaker 1: Wall Street time, on Bloomberg Radio and on Bloomberg Television.

556
00:32:34,240 --> 00:32:36,959
Speaker 1: Sp futures right now are down seven point staff features

557
00:32:36,960 --> 00:32:39,800
Speaker 1: down seventy six. Nasdaq futures are lower by twenty points.

558
00:32:39,920 --> 00:32:43,520
Speaker 1: The tenure treasury is up five thirty seconds. The yield

559
00:32:43,600 --> 00:32:52,640
Speaker 1: three point six four per cent. You're listening to Bloomberg Daybreak, markets,

560
00:32:52,720 --> 00:32:55,800
Speaker 1: headlines and breaking news twenty four hours a day at

561
00:32:55,840 --> 00:32:59,800
Speaker 1: Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Victape.

562
00:33:00,040 --> 00:33:08,600
Speaker 1: This is a bloom Burn Business Flash, and I'm Karen

563
00:33:08,680 --> 00:33:13,040
Speaker 1: Moscow and US Dock Index futures are lower. This after

564
00:33:13,120 --> 00:33:15,560
Speaker 1: the sn P five hundred rows to its best daily

565
00:33:15,680 --> 00:33:18,000
Speaker 1: gain in three weeks. We check the markets all day

566
00:33:18,040 --> 00:33:20,600
Speaker 1: long here on Bloomberg s and P futures. They're extending

567
00:33:20,640 --> 00:33:22,880
Speaker 1: their declines now they're down about ten points or a

568
00:33:23,000 --> 00:33:26,000
Speaker 1: quarter percent, down futures down three tens of a percent

569
00:33:26,120 --> 00:33:28,920
Speaker 1: or ninety five points, and NASDAG futures down a quarter percent,

570
00:33:29,240 --> 00:33:31,640
Speaker 1: where about twenty eight points the decks in Germany's down

571
00:33:31,680 --> 00:33:34,520
Speaker 1: a quarter percent ten, Your treasury up five thirty seconds,

572
00:33:34,600 --> 00:33:36,520
Speaker 1: yield three point six four percent. The yield on the

573
00:33:36,600 --> 00:33:39,360
Speaker 1: two year four point one nine percent. Nine X screwd

574
00:33:39,400 --> 00:33:41,360
Speaker 1: oil is up one point seven percent of a dollar

575
00:33:41,400 --> 00:33:43,960
Speaker 1: thirty four at seventy nine dollars sixty two cents a barrel.

576
00:33:44,200 --> 00:33:46,080
Speaker 1: Comic school down a tenth of upper cent or two

577
00:33:46,120 --> 00:33:49,080
Speaker 1: dollars forty cents. At eighteen twenty three, announced the euro

578
00:33:49,200 --> 00:33:51,680
Speaker 1: one point six to two against the dollar, British found

579
00:33:51,720 --> 00:33:53,760
Speaker 1: one point two zero six eight and the end one

580
00:33:53,840 --> 00:33:56,000
Speaker 1: thirty two point one five. And look at a bitcoin,

581
00:33:56,080 --> 00:33:59,280
Speaker 1: it's up to ten percent at sixteen thousand, eight hundred dollars.

582
00:33:59,360 --> 00:34:01,840
Speaker 1: That's a Bloomberg business flash. Now here's Michael Barr with

583
00:34:01,960 --> 00:34:04,440
Speaker 1: more on what's going on around the world. Michael Karen,

584
00:34:04,480 --> 00:34:07,720
Speaker 1: thank you very much. Ukrainian President Volotimir Zelenski has paid

585
00:34:07,720 --> 00:34:11,359
Speaker 1: a wartime visit to Washington to thank Americans for helping

586
00:34:11,400 --> 00:34:14,560
Speaker 1: to fund the war against Russia. In a speech to Congress,

587
00:34:14,600 --> 00:34:17,960
Speaker 1: he said the money is not charity, but an investment

588
00:34:18,040 --> 00:34:23,080
Speaker 1: in global security and democracy. Americans traveling before Christmas could

589
00:34:23,120 --> 00:34:26,920
Speaker 1: face big trouble getting to their destinations on time. Because

590
00:34:27,000 --> 00:34:30,480
Speaker 1: of a massive winter storm. China plans to cut quarantine

591
00:34:30,560 --> 00:34:34,760
Speaker 1: requirements for overseas travelers in January. According to people familiar

592
00:34:34,800 --> 00:34:37,480
Speaker 1: with the matter, there will be no more hotel quarantines

593
00:34:37,960 --> 00:34:40,120
Speaker 1: in the NBA. The next loss, and that's down the

594
00:34:40,200 --> 00:34:44,239
Speaker 1: Warriors one one thirteen in the NHL. The Devil's Won.

595
00:34:44,760 --> 00:34:47,440
Speaker 1: Global News twenty four hours a day on air and

596
00:34:47,640 --> 00:34:51,040
Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred

597
00:34:51,080 --> 00:34:53,719
Speaker 1: journalists and analysts more than a hundred twenty countries. I'm

598
00:34:53,760 --> 00:34:57,000
Speaker 1: Michael Barr, and this is Bloomberg. Nathan. All right, Michael.

599
00:34:57,040 --> 00:34:59,600
Speaker 1: Thanks at six three on Wall Street. I'm Nathan Hagar.

600
00:34:59,680 --> 00:35:01,560
Speaker 1: This is is Bloomberg day Break. Let's get into this

601
00:35:01,719 --> 00:35:05,879
Speaker 1: market now. Ross Mayfield joins this investment strategist at bar Ross.

602
00:35:05,920 --> 00:35:08,720
Speaker 1: Good morning. Things were going so well after yesterday's earnings

603
00:35:08,760 --> 00:35:12,160
Speaker 1: from FedEx and Nike and the consumer confidence beat. Now

604
00:35:12,200 --> 00:35:14,919
Speaker 1: we're seeing futures take a leg lower. This a little

605
00:35:14,920 --> 00:35:16,880
Speaker 1: bit of profit taking or is this kind of the

606
00:35:17,680 --> 00:35:20,160
Speaker 1: end of the Santa rally that so many of us

607
00:35:20,200 --> 00:35:24,360
Speaker 1: are hoping for. Yeah, I think at this point the

608
00:35:24,440 --> 00:35:26,480
Speaker 1: burden of proof remains on the bulls. So when you

609
00:35:26,520 --> 00:35:28,239
Speaker 1: get a day like today, it's probably gonna be a

610
00:35:28,280 --> 00:35:32,040
Speaker 1: little bit lower volume, lacking catalysts. Um. I think the

611
00:35:32,120 --> 00:35:35,040
Speaker 1: trend is downward. Um. We had a nice rally kind

612
00:35:35,080 --> 00:35:38,399
Speaker 1: of into December. Everybody you know, saw that Santa Claus

613
00:35:38,480 --> 00:35:40,520
Speaker 1: rally that they wanted so badly, and then uh, you know,

614
00:35:40,640 --> 00:35:43,240
Speaker 1: central bankers around the world kind of played the granch

615
00:35:43,280 --> 00:35:45,320
Speaker 1: a little bit. Um, And I think that weighs on

616
00:35:45,400 --> 00:35:49,040
Speaker 1: the market heading into three um as really not much

617
00:35:49,080 --> 00:35:52,279
Speaker 1: has changed for the macro outlook. UM. So yeah, I

618
00:35:52,360 --> 00:35:54,120
Speaker 1: think I think it's should there's getting the burden of

619
00:35:54,160 --> 00:35:55,759
Speaker 1: proof is gonna be on the bulls until we get

620
00:35:55,840 --> 00:35:58,720
Speaker 1: some some news otherwise. So what kind of news should

621
00:35:58,800 --> 00:36:01,480
Speaker 1: we be looking for as head into twenty ewenty free

622
00:36:01,560 --> 00:36:06,759
Speaker 1: What could shake central banks? Well, I mean they've they've

623
00:36:06,840 --> 00:36:08,759
Speaker 1: told us basically what it will take for them to

624
00:36:08,840 --> 00:36:12,680
Speaker 1: ease up enough to to possibly get the soft landing

625
00:36:12,719 --> 00:36:15,200
Speaker 1: that risk risk assets want to see. And it starts

626
00:36:15,239 --> 00:36:17,600
Speaker 1: and ends with the labor market, at least for the FED.

627
00:36:18,239 --> 00:36:21,680
Speaker 1: And it's a tricky, tricky lie because you need the

628
00:36:21,760 --> 00:36:23,920
Speaker 1: labor market to soften enough to get the FED to

629
00:36:23,960 --> 00:36:26,839
Speaker 1: ease off of their you know, hyper hawkish policy. Um,

630
00:36:26,880 --> 00:36:29,200
Speaker 1: but you can't have it cracked too much so that

631
00:36:29,560 --> 00:36:32,960
Speaker 1: you lose the consumer. I mean, the consumer resilience has

632
00:36:33,040 --> 00:36:35,840
Speaker 1: really been one of the bright spots of the domestic

633
00:36:35,880 --> 00:36:38,520
Speaker 1: economy over the past eighteen months, in the face of inflation,

634
00:36:38,560 --> 00:36:40,320
Speaker 1: in the face of higher interest rates, in the basic

635
00:36:40,400 --> 00:36:43,560
Speaker 1: geopolitical shocks, um. And a lot of that stems from

636
00:36:43,800 --> 00:36:45,879
Speaker 1: strength and confidence in the labor market. But the FED

637
00:36:46,000 --> 00:36:48,759
Speaker 1: is telling us out right, then until we see weakness there,

638
00:36:48,920 --> 00:36:52,319
Speaker 1: until we get labor demands down to meet the kind

639
00:36:52,360 --> 00:36:56,040
Speaker 1: of structural supply shortage. Um, they're gonna keep They're gonna

640
00:36:56,120 --> 00:36:58,440
Speaker 1: keep being hawkish, and they don't see their job is done. Yeah,

641
00:36:58,480 --> 00:37:00,759
Speaker 1: we have gotten consistent messaging from the Fed. But of

642
00:37:00,800 --> 00:37:03,560
Speaker 1: course we did get that surprise from the Bank of

643
00:37:03,640 --> 00:37:05,960
Speaker 1: Japan on yield curve control this week. Should we be

644
00:37:06,040 --> 00:37:10,759
Speaker 1: looking for more surprises from central banks at this point?

645
00:37:10,920 --> 00:37:14,799
Speaker 1: I think Japan was was one, if not the last holdout. Um,

646
00:37:15,239 --> 00:37:18,640
Speaker 1: you know, this was a move that was expected, I think,

647
00:37:18,719 --> 00:37:21,320
Speaker 1: but I think the timing, the kind of urgency of

648
00:37:21,400 --> 00:37:24,800
Speaker 1: its surprise markets a little bit um so so to me,

649
00:37:24,960 --> 00:37:27,160
Speaker 1: I mean, you have the e c B hiking. You

650
00:37:27,280 --> 00:37:30,600
Speaker 1: have the b O E hiking. You know, really really

651
00:37:30,680 --> 00:37:33,160
Speaker 1: central banks around the world, you know, outside of a

652
00:37:33,200 --> 00:37:36,000
Speaker 1: handful that are dealing with idio syne credit issues, are

653
00:37:36,160 --> 00:37:40,319
Speaker 1: are lockstep in unison in their movement with higher rates, UM,

654
00:37:40,560 --> 00:37:44,279
Speaker 1: less stimulus, tighter policy, and the Bank of Japan was

655
00:37:44,360 --> 00:37:46,000
Speaker 1: trying to be a holdout and you could see it

656
00:37:46,040 --> 00:37:48,120
Speaker 1: in the end. You could see it in their equity

657
00:37:48,200 --> 00:37:50,880
Speaker 1: markets UM. And so finally, you know, I think the

658
00:37:51,040 --> 00:37:53,560
Speaker 1: I think the market one and so we'll see if

659
00:37:53,640 --> 00:37:56,080
Speaker 1: it leads to outright rate heights or not UM when

660
00:37:56,120 --> 00:37:59,680
Speaker 1: the governorship changes in three But but for now, I

661
00:37:59,719 --> 00:38:02,520
Speaker 1: think they're just joining on the train that had already

662
00:38:02,560 --> 00:38:05,239
Speaker 1: left the station. Lightning answer for me, Ross, where do

663
00:38:05,280 --> 00:38:09,719
Speaker 1: you look for opportunity in twenty three? High quality? Defensive?

664
00:38:10,040 --> 00:38:12,239
Speaker 1: You know, we're gonna be tactically defensive for the first

665
00:38:12,280 --> 00:38:14,080
Speaker 1: half of the year, but longer term, we're starting to

666
00:38:14,160 --> 00:38:16,280
Speaker 1: like the setup. So for now, I think you continue

667
00:38:16,320 --> 00:38:18,279
Speaker 1: to play a little bit of defense and start to

668
00:38:18,320 --> 00:38:20,239
Speaker 1: look for long term opportunities in the first half of

669
00:38:20,239 --> 00:38:22,480
Speaker 1: the year. Awesome, Thanks for this, Ross, Great have you

670
00:38:22,560 --> 00:38:25,960
Speaker 1: on with us this morning. Ross Mayfield Investment Strategists at

671
00:38:26,080 --> 00:38:30,200
Speaker 1: baired As we look at futures move even lower down,

672
00:38:30,280 --> 00:38:33,960
Speaker 1: deepening some of these declines. Modest losses though really with

673
00:38:34,120 --> 00:38:38,160
Speaker 1: SMP futures down nine points, Staff futures down ninety, NASTACK

674
00:38:38,280 --> 00:38:41,000
Speaker 1: futures down twenty nine points, and you compare it to

675
00:38:41,120 --> 00:38:45,120
Speaker 1: the one plus percent gains that we saw yesterday across

676
00:38:45,200 --> 00:38:48,080
Speaker 1: the board for US stocks. Now, let's getta look at

677
00:38:48,120 --> 00:38:52,439
Speaker 1: your weather forecast. There's wind advisory effect from ten pm

678
00:38:52,480 --> 00:38:55,359
Speaker 1: tonight through ten pm tomorrow night CLOUDI and brice rain

679
00:38:55,440 --> 00:38:58,479
Speaker 1: develops this afternoon high forty five to fifty rain, heavy

680
00:38:58,520 --> 00:39:01,880
Speaker 1: at times, night becoming very windy. Those overnight fifty temperatures

681
00:39:02,000 --> 00:39:04,279
Speaker 1: rise as the night goes on rein and tomorrow with

682
00:39:04,360 --> 00:39:07,560
Speaker 1: fifty to fifty five temperatures fall through the afternoon, partly sunny,

683
00:39:07,600 --> 00:39:11,800
Speaker 1: breeze Saturday only twenty five sunny Sunday. I'm Rob Carolyn

684
00:39:11,920 --> 00:39:17,520
Speaker 1: with your weekend forecast on Bloomberg eleven three oh broadcasting

685
00:39:17,640 --> 00:39:21,319
Speaker 1: live from the Bloomberg Interactive Broker Studio in New York,

686
00:39:21,440 --> 00:39:24,520
Speaker 1: Bloomberg E living free on to Washington, d C. Bloomberg

687
00:39:24,640 --> 00:39:27,920
Speaker 1: nine one to Boston, Bloomberg one O six one to

688
00:39:28,000 --> 00:39:31,719
Speaker 1: San Francisco, Bloomberg nine sixty to the country Sirius XM

689
00:39:31,800 --> 00:39:35,000
Speaker 1: H one nine and around the globe the Bloomberg business

690
00:39:35,400 --> 00:39:44,840
Speaker 1: in Bloomberg Radio dot Com. This is Bloomberg Daybreak and

691
00:39:45,000 --> 00:39:47,160
Speaker 1: we're coming up to six thirty on Wall Street. Good morning,

692
00:39:47,160 --> 00:39:49,800
Speaker 1: I'm Nathan Hager and I'm Karen Moscow. We are just

693
00:39:49,920 --> 00:39:52,720
Speaker 1: about three hours away from the open of US training.

694
00:39:52,800 --> 00:39:54,600
Speaker 1: Time for the five things that you need to notice

695
00:39:54,600 --> 00:39:56,680
Speaker 1: start your day. And at first, it was a historic

696
00:39:56,840 --> 00:40:00,440
Speaker 1: night in Washington. Ukraine's President Vladimir's lens He made an

697
00:40:00,520 --> 00:40:03,880
Speaker 1: emotional address in person to a joint meeting of Congress.

698
00:40:04,480 --> 00:40:09,239
Speaker 1: Europe is now stronger and more independent than never. The

699
00:40:09,360 --> 00:40:14,840
Speaker 1: Russian tyranny has lost control over US. This was President

700
00:40:14,920 --> 00:40:19,080
Speaker 1: Zelenski's first trip outside his country since Russia's invasion in February,

701
00:40:19,239 --> 00:40:21,320
Speaker 1: and ahead of the address, care and the Biden administration

702
00:40:21,360 --> 00:40:24,520
Speaker 1: announced nearly one point nine billion dollars in additional military

703
00:40:24,600 --> 00:40:27,960
Speaker 1: aid to Ukraine, including a Patriot missile battery. Russian President

704
00:40:28,040 --> 00:40:31,759
Speaker 1: Vladimir Putin meanwhile says Russia has no limitations on its

705
00:40:31,800 --> 00:40:34,720
Speaker 1: own military spending to continue the war. Well, we're following

706
00:40:34,760 --> 00:40:37,080
Speaker 1: another story at a d C. This morning, Nathan, A

707
00:40:37,160 --> 00:40:40,080
Speaker 1: group of House Republicans has released a counter report to

708
00:40:40,160 --> 00:40:44,600
Speaker 1: the House Select Committee's investigation into the January six capital assault.

709
00:40:44,880 --> 00:40:47,640
Speaker 1: The January six Committee is expected to release it's full

710
00:40:47,719 --> 00:40:50,640
Speaker 1: report today. I returned to Cryptocurrency Now carrying gets to

711
00:40:50,680 --> 00:40:53,640
Speaker 1: the latest on the ft X collapsed to top executives

712
00:40:53,640 --> 00:40:57,000
Speaker 1: of the Crypto Exchange have pleaded guilty to criminal charges.

713
00:40:57,320 --> 00:41:01,680
Speaker 1: Bloomberg Steve Rappaport joins US Live Steve, Good Morning, Nathan

714
00:41:01,800 --> 00:41:04,799
Speaker 1: and Karen. Ahead of Sam Bankman Freed's appearance in court today.

715
00:41:04,880 --> 00:41:08,120
Speaker 1: Caroline Ellison and Gary Wang pled guilty to fraud as

716
00:41:08,200 --> 00:41:11,080
Speaker 1: prosecutors ramp up pressure in their case against him. The

717
00:41:11,120 --> 00:41:13,920
Speaker 1: Plea deal calls for the government to recommend reduced sentences

718
00:41:14,120 --> 00:41:17,680
Speaker 1: if they provide substantial assistance in the investigation. Bankman Free

719
00:41:17,760 --> 00:41:20,080
Speaker 1: touchdown in New York last night after waving his right

720
00:41:20,160 --> 00:41:22,759
Speaker 1: to extradition from the Bahamas. Live in New York. I'm

721
00:41:22,800 --> 00:41:26,000
Speaker 1: Steve Rapaport, Bloomberg Daybreak, Gray, Steve, thank you for taking

722
00:41:26,040 --> 00:41:29,080
Speaker 1: a look at markets now. Futures are lower. Global stocks

723
00:41:29,080 --> 00:41:31,400
Speaker 1: advance for a third day yesterday as we adge closer

724
00:41:31,440 --> 00:41:35,360
Speaker 1: to the Christmas holiday. But Brian Jacobson, Senior Investment Strategies

725
00:41:35,400 --> 00:41:38,480
Speaker 1: with all Spring Global Investments, says markets are pricing in

726
00:41:38,520 --> 00:41:42,319
Speaker 1: a recession, though there still are buying opportunities. Look at

727
00:41:42,400 --> 00:41:45,280
Speaker 1: some of the cyclical names, maybe look at some small

728
00:41:45,400 --> 00:41:49,120
Speaker 1: caps and midcaps and emerging markets. Uh and uh. Let's

729
00:41:49,160 --> 00:41:51,920
Speaker 1: not forget that this is actually a pretty decent environment

730
00:41:52,000 --> 00:41:55,880
Speaker 1: where bombs can once again diversify a portfolio all screens.

731
00:41:55,960 --> 00:41:59,040
Speaker 1: Brian Jacobson says markets are also pricing in lower earnings.

732
00:41:59,080 --> 00:42:03,479
Speaker 1: In speaking of earnings, Karen, America's largest memory chip baker

733
00:42:03,600 --> 00:42:07,160
Speaker 1: Micron Technologies is out with a lackluster revenue outlook and

734
00:42:07,280 --> 00:42:10,080
Speaker 1: a warning that we will have to trim its workforce.

735
00:42:10,160 --> 00:42:12,160
Speaker 1: And taking a look at Micron shares right now, they

736
00:42:12,200 --> 00:42:16,239
Speaker 1: are down three percent in the early trade, and again

737
00:42:16,320 --> 00:42:18,880
Speaker 1: futures are lower this morning. S and P Future is

738
00:42:18,920 --> 00:42:22,280
Speaker 1: down about nine points or two tens of uppercent, NASDAC

739
00:42:22,360 --> 00:42:24,600
Speaker 1: and Dow future is also down to tens of uppercent,

740
00:42:24,680 --> 00:42:27,920
Speaker 1: but Dow futures down seventy five points and NASDAG futures

741
00:42:27,960 --> 00:42:30,799
Speaker 1: down twenty six. The decks in Germany's down two tens

742
00:42:30,840 --> 00:42:33,239
Speaker 1: of uppercent as well. The tenure treasury of four thirty

743
00:42:33,320 --> 00:42:35,880
Speaker 1: seconds yeld three point six four percent yield on a

744
00:42:35,960 --> 00:42:38,800
Speaker 1: two year four point to zero percent, nine x screwed

745
00:42:39,080 --> 00:42:41,359
Speaker 1: l up one percent of a dollar forty it's it's

746
00:42:41,400 --> 00:42:44,399
Speaker 1: seventy nine sixty nine cents of barrel. That's the five

747
00:42:44,440 --> 00:42:46,279
Speaker 1: things that you need to notice. Start your day and

748
00:42:46,320 --> 00:42:49,600
Speaker 1: straight ahead your latest local headlines. And this is Bloomberg.

749
00:42:53,480 --> 00:42:55,319
Speaker 1: Thank you, Caring at six thirty one on Wall Street,

750
00:42:55,360 --> 00:42:57,160
Speaker 1: and Michael Barr has more on what's going on in

751
00:42:57,280 --> 00:43:00,239
Speaker 1: New York and around the world. We'll just trying to

752
00:43:01,040 --> 00:43:04,680
Speaker 1: stay warm, Michael. Getting ready for this frigid Christmas weekend.

753
00:43:04,840 --> 00:43:08,440
Speaker 1: Oh my, Nathan. Yes, millions of Americans are taking to

754
00:43:08,480 --> 00:43:11,640
Speaker 1: the roads and skies before Christmas, and they could face

755
00:43:11,800 --> 00:43:14,880
Speaker 1: big trouble getting to their destinations on time because of

756
00:43:14,960 --> 00:43:18,520
Speaker 1: a massive winter storm. Several major hubs, including New York City,

757
00:43:18,560 --> 00:43:20,680
Speaker 1: are all in the path of the storm and face

758
00:43:20,760 --> 00:43:24,600
Speaker 1: significant disruptions. This traveler in New York was headed towards

759
00:43:24,719 --> 00:43:28,640
Speaker 1: the storm now actually was on the airplane waiting to

760
00:43:28,760 --> 00:43:31,800
Speaker 1: taxi out and we got canceled going to Bismarck, North Dakota.

761
00:43:32,080 --> 00:43:35,600
Speaker 1: Airlines have been castling hundreds of flights. New York City

762
00:43:35,680 --> 00:43:39,280
Speaker 1: Mayor Eric Adams defended his record on crime. He wrapped

763
00:43:39,320 --> 00:43:42,560
Speaker 1: up his first year in office amid rise and major

764
00:43:42,640 --> 00:43:46,720
Speaker 1: felonies through November. Mayor Adam says though the top line

765
00:43:46,800 --> 00:43:50,080
Speaker 1: number does not tell the whole story, as he highlighted

766
00:43:50,160 --> 00:43:53,480
Speaker 1: double digit drops in the high profile murders and shootings.

767
00:43:53,760 --> 00:43:55,839
Speaker 1: And I'm talking to New york Is every day when

768
00:43:55,880 --> 00:44:00,400
Speaker 1: I'm on the subway system, walking the street, interacting with them, coaches,

769
00:44:00,960 --> 00:44:04,239
Speaker 1: in houses, roach shops and synagogues. That's the number one

770
00:44:04,320 --> 00:44:06,680
Speaker 1: thing on their minds. They want to be safe, and

771
00:44:06,960 --> 00:44:10,040
Speaker 1: they deserve to be safe. Near Adams gave himself a

772
00:44:10,120 --> 00:44:13,280
Speaker 1: B plus in fighting crime. A man accused of wounding

773
00:44:13,360 --> 00:44:15,800
Speaker 1: ten people in a mass shooting on a crowded subway

774
00:44:15,840 --> 00:44:18,920
Speaker 1: train in Brooklyn told his lawyers he'd like to plead

775
00:44:18,960 --> 00:44:21,960
Speaker 1: guilty next month to all of the charges against him,

776
00:44:21,960 --> 00:44:25,919
Speaker 1: including terrorism offenses. In April, the accused shooter, Frank James,

777
00:44:25,960 --> 00:44:28,920
Speaker 1: set off a pair of smoke grenades and then scattered

778
00:44:28,960 --> 00:44:32,720
Speaker 1: a barrage of random shots inside the train. One Senator

779
00:44:32,840 --> 00:44:35,799
Speaker 1: good derail the one point seven trillion dollars spending bill

780
00:44:36,360 --> 00:44:39,680
Speaker 1: Utah Republican Senator Mike Lee once an amendment that would

781
00:44:39,680 --> 00:44:44,000
Speaker 1: reinstate Title forty two, the pandemic rule that kept asylum

782
00:44:44,080 --> 00:44:47,359
Speaker 1: seeking migrants in Mexico due to COVID. The government shut

783
00:44:47,400 --> 00:44:50,080
Speaker 1: down deadline is Friday. Globally is twenty four hours a

784
00:44:50,160 --> 00:44:52,400
Speaker 1: day on air and on Bloomberg Quick Take, powered by

785
00:44:52,440 --> 00:44:54,719
Speaker 1: more than twenty seven hundred journalists analysts more than a

786
00:44:54,800 --> 00:44:57,960
Speaker 1: hundred twenty countries. Michael bar This is Bloomberg, ain't it?

787
00:44:58,040 --> 00:45:04,600
Speaker 1: Thanks Michael. Almost six thirty four in Wall Streets have

788
00:45:04,640 --> 00:45:06,319
Speaker 1: for the Bloomberg Sports update, brought to you by tri

789
00:45:06,440 --> 00:45:08,920
Speaker 1: State Out of here, John, Thanks Nathan Nicks. At one,

790
00:45:08,960 --> 00:45:10,400
Speaker 1: eight and row and five of the eight they had

791
00:45:10,440 --> 00:45:13,040
Speaker 1: not allowed a hundred points, but at Tiguard in Toronto's

792
00:45:13,080 --> 00:45:16,160
Speaker 1: Pascal Siakam went for over half a hundred by himself

793
00:45:16,239 --> 00:45:19,359
Speaker 1: fifty two points. The Raptors into the Knicks win Street

794
00:45:19,400 --> 00:45:21,480
Speaker 1: one thirteen to one oh six. In the lost thirty

795
00:45:21,520 --> 00:45:23,880
Speaker 1: points for both Julius Randall r. J. Barrett, but an

796
00:45:23,880 --> 00:45:26,600
Speaker 1: off night for Jalen Brunson. He shot three or fourteen

797
00:45:26,680 --> 00:45:29,000
Speaker 1: nets have won their last seven eleven of twelve at

798
00:45:29,080 --> 00:45:31,799
Speaker 1: Barkley is a one forty three to one thirteen round

799
00:45:31,840 --> 00:45:35,560
Speaker 1: of Golden State. The Nets led fifty one at halftime,

800
00:45:35,719 --> 00:45:38,759
Speaker 1: nine Nets and double figures. The Warriors two games and

801
00:45:38,880 --> 00:45:41,279
Speaker 1: two nights in New York and losses by thirty eight

802
00:45:41,560 --> 00:45:43,719
Speaker 1: and thirty points. Much needed win for the Devils. They

803
00:45:43,800 --> 00:45:45,920
Speaker 1: lost their last six. They rallied to win at Florida

804
00:45:46,160 --> 00:45:49,879
Speaker 1: to two. St. John's lost at Villanova seventy eight sixty three.

805
00:45:50,000 --> 00:45:52,319
Speaker 1: Jets and Jaguars figure to be playing in the rain

806
00:45:52,440 --> 00:45:54,560
Speaker 1: tonight at MetLife. Jets out to end of three game

807
00:45:54,600 --> 00:45:57,640
Speaker 1: losing streak, keep their playoff hopes alive. Aaron Judge was

808
00:45:57,680 --> 00:45:59,560
Speaker 1: at Yankee stated to talk about his new nine year

809
00:45:59,640 --> 00:46:02,800
Speaker 1: country acting about being named Yankee Captain, I'm getting a

810
00:46:02,880 --> 00:46:06,360
Speaker 1: chance to continue you know something the Yankees, you know,

811
00:46:07,000 --> 00:46:09,080
Speaker 1: are so big on, which is legacy. You know, continue

812
00:46:09,080 --> 00:46:11,840
Speaker 1: to get a chance to continue my legacy here in

813
00:46:11,960 --> 00:46:15,279
Speaker 1: pin stripes, you know, in the best city in the world,

814
00:46:15,400 --> 00:46:18,640
Speaker 1: the best baseball city, on the front of the best fans.

815
00:46:19,000 --> 00:46:22,799
Speaker 1: This is um an incredible honor. First captain since Derek Jr.

816
00:46:22,840 --> 00:46:25,440
Speaker 1: Who was in attendance. The numbers are in after the

817
00:46:25,480 --> 00:46:28,760
Speaker 1: stunning Carlos Careas signing, the Mets will have a payroll

818
00:46:28,840 --> 00:46:31,919
Speaker 1: of three four million dollars. They'll pay attacks of another

819
00:46:32,040 --> 00:46:34,879
Speaker 1: hundred eleven millions, so they will shell out almost half

820
00:46:34,960 --> 00:46:38,960
Speaker 1: a billion. In John Stasheller Bloomberg Sports, Nathan brought to

821
00:46:39,000 --> 00:46:40,840
Speaker 1: you buyouty. You don't let someone else drive off in

822
00:46:40,880 --> 00:46:43,200
Speaker 1: the Audi model. You've always wanted to visit your local

823
00:46:43,280 --> 00:46:45,200
Speaker 1: Try state autie dealer to get behind the wheel of

824
00:46:45,239 --> 00:46:49,400
Speaker 1: yours today, or visit autie Offers dot com for more information.

825
00:46:52,160 --> 00:46:54,319
Speaker 1: Five on Wall Street, Bloomberg Radio is on the air

826
00:46:54,360 --> 00:46:56,919
Speaker 1: from San Francisco to New York, London to Hong Kong.

827
00:46:57,080 --> 00:46:59,279
Speaker 1: Let's check in with our global news team for some

828
00:46:59,400 --> 00:47:01,360
Speaker 1: of the top or he's heard on our three hundred

829
00:47:01,440 --> 00:47:08,160
Speaker 1: affiliate radio stations around the world. I'm planning Donaho on

830
00:47:08,320 --> 00:47:11,800
Speaker 1: kf AB and Omaha. Some ethanol producers are cutting production

831
00:47:11,880 --> 00:47:15,080
Speaker 1: on there the cold temperatures. I'm Steve Podas Scott k

832
00:47:15,239 --> 00:47:17,960
Speaker 1: n X in Los Angeles. We're talking about a report

833
00:47:18,040 --> 00:47:21,360
Speaker 1: that Elon Musk may be planning job cuts at Tesla.

834
00:47:21,600 --> 00:47:24,320
Speaker 1: I'm Klin Headcimed Blue Bag d a B Radio in London.

835
00:47:24,360 --> 00:47:27,560
Speaker 1: We've been reporting on another dire hit to uknitting standards.

836
00:47:27,600 --> 00:47:30,640
Speaker 1: As household incomes drop again and you take growth is

837
00:47:30,680 --> 00:47:33,680
Speaker 1: revised lower in the third quarter. I'm Jeff Bullinger and

838
00:47:33,880 --> 00:47:36,680
Speaker 1: on WTB N and Columbus. I'll be talking about a

839
00:47:36,760 --> 00:47:40,560
Speaker 1: new report that chose home affordability falling a sky high

840
00:47:40,680 --> 00:47:44,720
Speaker 1: mortgage interest rates offset lower listing crisis. I'm Ad Corey

841
00:47:44,800 --> 00:47:48,120
Speaker 1: on w w J and Detroit. I'm reporting a large

842
00:47:48,160 --> 00:47:52,680
Speaker 1: expansion of the Huntingdon Place Convention Centery clan. And those

843
00:47:52,680 --> 00:47:55,440
Speaker 1: are some of the stories our twenty undred Bloomberg journalists

844
00:47:55,440 --> 00:47:57,760
Speaker 1: and analysts are working on this morning. Around the world.

845
00:47:57,880 --> 00:48:01,000
Speaker 1: It's six thirty six on Wall Street. The following is

846
00:48:01,040 --> 00:48:05,040
Speaker 1: an editorial from Bloomberg Opinion. This editorial was written by

847
00:48:05,040 --> 00:48:08,680
Speaker 1: the Bloomberg Editorial Board. Deciding what can be built where

848
00:48:08,840 --> 00:48:12,080
Speaker 1: is a perfectly legitimate power of local governments across America.

849
00:48:12,520 --> 00:48:15,880
Speaker 1: It's also a tool of exclusion that undermines the economy,

850
00:48:16,239 --> 00:48:20,960
Speaker 1: deepens inequality, and even exacerbates climate change, particularly in neighborhoods

851
00:48:21,000 --> 00:48:24,080
Speaker 1: with the best schools and access to jobs. Politically active

852
00:48:24,120 --> 00:48:26,840
Speaker 1: residents who tend to be older, affluent, and white, have

853
00:48:27,080 --> 00:48:30,120
Speaker 1: long adopted rules to keep others out. It's a prime

854
00:48:30,160 --> 00:48:34,400
Speaker 1: example of local government gone wrong. Fortunately, the pro market

855
00:48:34,480 --> 00:48:38,520
Speaker 1: and pro equality aspects of zoning reform give it bipartisan appeal,

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00:48:39,000 --> 00:48:41,279
Speaker 1: visible in the support for legislation at the state and

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00:48:41,360 --> 00:48:44,799
Speaker 1: national levels. To be sure, zoning reform alone won't solve

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00:48:44,840 --> 00:48:47,600
Speaker 1: the country's housing crisis, but it's a task that federal

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00:48:47,680 --> 00:48:51,600
Speaker 1: and state governments must urgently undertake. This editorial was written

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00:48:51,640 --> 00:48:54,759
Speaker 1: by the Bloomberg Editorial Board. For more Bloomberg opinion, please

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00:48:54,800 --> 00:48:57,480
Speaker 1: go to Bloomberg dot com, slash Opinion or O P

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00:48:57,680 --> 00:49:00,319
Speaker 1: I en go on the Bloomberg terminal. These has been

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00:49:00,440 --> 00:49:04,080
Speaker 1: Bloomberg Opinion. Listen for Bloomberg opinion editorials every weekday at

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00:49:04,160 --> 00:49:07,120
Speaker 1: this time. Terminal customers can read more at O P

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Speaker 1: I n go. Another story we're watching, JP Morgan Chase

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00:49:10,760 --> 00:49:13,359
Speaker 1: is upping its climate ambitions, announcing a slew of new

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00:49:13,440 --> 00:49:17,200
Speaker 1: emissions reductions targets for its financing to carbon intensive businesses,

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00:49:17,280 --> 00:49:21,560
Speaker 1: including airlines and cement manufacturers. The largest US bank is

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00:49:21,600 --> 00:49:23,640
Speaker 1: that whether its climate report for this year, it says

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00:49:23,640 --> 00:49:26,680
Speaker 1: it plans to reduce the carbon intensity of its aviation

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00:49:26,760 --> 00:49:33,840
Speaker 1: financing portfolio by thirty six percent by futures on the decline.

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Speaker 1: This morning, SMP futures are down seven points Down futures

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00:49:37,200 --> 00:49:40,479
Speaker 1: down seventy and Nasdak futures are lower by twenty two points.

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00:49:40,560 --> 00:49:43,920
Speaker 1: The tenure treasuries up four thirty seconds. The yield on

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00:49:43,960 --> 00:49:46,920
Speaker 1: the benchmark tenure note three point six four percent. You're

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00:49:46,960 --> 00:49:49,000
Speaker 1: listening to Bloomberg day Break