WEBVTT - Bloomberg Daybreak: December 22, 2022 - Hour 2 (Radio) 0:00:01.960 --> 0:00:05.320 Markets, headlines and breaking news twenty four hours a day 0:00:05.440 --> 0:00:08.440 at Bloomberg dot Com, the Bloomberg Business Out and at 0:00:08.480 --> 0:00:18.360 Bloomberg Quicktake. She's a Bloomberg Business Flash and I'm Karen 0:00:18.440 --> 0:00:21.320 Moscow futures are lower this morning. We check the markets 0:00:21.320 --> 0:00:24.160 all day long here on Bloomberg. SNP futures down seven 0:00:24.200 --> 0:00:27.480 points or two tens of uppercent. NASDAG futures down two 0:00:27.520 --> 0:00:30.080 tens of upper cents. So were down futures NASDAG futures 0:00:30.080 --> 0:00:32.920 down twenty points down. Futures down seventy one. The decks 0:00:32.920 --> 0:00:35.279 in Germany's down two tens of uppercent as well. Ten 0:00:35.360 --> 0:00:37.720 year treasury up five thirty seconds. You'ld three point six 0:00:37.760 --> 0:00:40.320 four percent yield on the two year four point two 0:00:40.400 --> 0:00:43.640 zero percent. NIMEX screwed oil is up one percent of 0:00:43.720 --> 0:00:46.200 a dollar forty one. It's seventy nine dollars seventy cents 0:00:46.200 --> 0:00:48.920 of barrel. Call mex School. That'll change at eighteen twenty 0:00:48.960 --> 0:00:51.959 four and ninety announced the euro one point six one 0:00:52.040 --> 0:00:54.160 seven against the dollar, The British found one point to 0:00:54.320 --> 0:00:56.920 zero four five and again one thirty two point eight, 0:00:57.280 --> 0:01:01.280 and bitcoin is up a quarter percent. It's at sixteen thousand, 0:01:01.440 --> 0:01:05.480 eight hundred dollars. And that's a Bloomberg business flash, Nathan, Okay, Karen, 0:01:05.520 --> 0:01:08.280 thanks six fifty six on Wall Street. Bloomberg surveillance is 0:01:08.319 --> 0:01:09.920 straight ahead. First, we want to take a look at 0:01:09.959 --> 0:01:12.640 stock some of the individual movers in the early going. 0:01:12.720 --> 0:01:16.880 We're joined live now by Bloomberg Markets Live correspondent Tatiana 0:01:17.000 --> 0:01:19.520 dari A. Well, so much for the Santa rally after 0:01:19.560 --> 0:01:22.880 FedEx and Nike and the consumer confidence numbers yesterday, here 0:01:22.920 --> 0:01:29.160 comes Micron Technologies with a macro lump of coal, Tatiana, exactly, Nathan, 0:01:29.280 --> 0:01:33.480 sending another warning about consumer demand. There will Micron here 0:01:33.560 --> 0:01:37.080 taker m you, the largest use maker of memoryships moving 0:01:37.120 --> 0:01:39.920 lower by three percent in the pre market after reporting 0:01:39.920 --> 0:01:44.319 some disappointing earnings making and delivering a weak Salves forecast, 0:01:44.360 --> 0:01:47.720 and also some cust cutting measures, including plans to cut 0:01:47.720 --> 0:01:51.080 the workforce by ten percent. The company blames it all 0:01:51.120 --> 0:01:54.040 on an industry glat that that's worse than thirteen years 0:01:54.040 --> 0:01:58.520 according to the CEO. That's, of course as um now 0:01:58.600 --> 0:02:01.280 Sammy's are having to deal with glot after not being 0:02:01.320 --> 0:02:03.760 able to produce enough just you know, less than a 0:02:03.840 --> 0:02:07.280 year ago. Remember the chip shortage. Well now they're producing 0:02:07.400 --> 0:02:12.480 and are keeping inventories that are higher. And that's as 0:02:12.639 --> 0:02:16.080 people you know, have shelved their purchases of personal computers 0:02:16.080 --> 0:02:19.000 and smartphones as they returned back to work and didn't 0:02:19.000 --> 0:02:23.920 need anymore. And also amid rising inflation and and uncertain economy, 0:02:24.040 --> 0:02:28.680 especially um as you look at those recession concerns parking 0:02:28.760 --> 0:02:32.080 up and the layoffs here picking up as well. Well, 0:02:32.120 --> 0:02:35.280 we know that semi's have been struggling with demand, right 0:02:35.320 --> 0:02:37.320 if you look at the stock, shares are down about 0:02:37.360 --> 0:02:42.200 forty five percent this year, under performing the Philadelphia Semiconductor Index. 0:02:42.280 --> 0:02:45.200 But the disappointing results here are nonetheless worrying for the 0:02:45.240 --> 0:02:49.760 tech industry particularly, but for the Broadway economy as a whole. Yeah, 0:02:49.919 --> 0:02:52.760 I also see your keeping an eye on Tesla shares 0:02:52.800 --> 0:02:54.480 this morning. Not a whole lot of movement, but it 0:02:54.480 --> 0:02:59.800 looks like the electric vehicle makers dangling some incentives again exactly, 0:03:00.200 --> 0:03:02.600 it's moving. It's higher by about half a percent here. 0:03:02.680 --> 0:03:05.000 I'm not sure the move will will hold, to be honest, 0:03:05.040 --> 0:03:07.960 I think it's just, you know, seeing some relief after 0:03:08.040 --> 0:03:11.320 four days of losses in a really tough year. Frankly, 0:03:11.440 --> 0:03:14.120 but The story this morning is the Tesla's offering US 0:03:14.200 --> 0:03:18.400 consumers seven thousand, five hundred dollars to take delivery of 0:03:18.520 --> 0:03:22.400 its two cheapest models before year and and that's doubled 0:03:22.400 --> 0:03:26.240 the discount of what the company was offering earlier this month. 0:03:26.320 --> 0:03:28.919 So I guess, you know, for those who haven't completed 0:03:28.960 --> 0:03:31.760 their Christmas shopping, there's a chance there. I mean, we 0:03:31.840 --> 0:03:34.880 have to say, this is a very rare move from Tesla, right. 0:03:34.960 --> 0:03:38.160 This is a company that had a no discount policy 0:03:38.640 --> 0:03:42.000 for years, but it shows that the incentive is sort 0:03:42.000 --> 0:03:45.880 of This incentive is the latest indication that CEO Musk's 0:03:45.920 --> 0:03:48.840 prediction for an epic year of the end of the 0:03:48.920 --> 0:03:52.000 year is not panning out as planned, that they perhaps 0:03:52.040 --> 0:03:55.360 and need to do more on the pricing side of things, 0:03:55.760 --> 0:03:58.560 uh to meet their goals. And perhaps investors are nagna 0:03:59.120 --> 0:04:01.800 not gonna like that. Yeah, And I guess if nothing else, 0:04:02.040 --> 0:04:04.680 is the season for a little bit of gifts and 0:04:04.840 --> 0:04:07.080 maybe that's what we're seeing from Tesla this morning. Thanks 0:04:07.080 --> 0:04:09.560 for this, Tatiana, good having on with a Bloomberg Markets 0:04:09.560 --> 0:04:13.440 Life correspondent Tatiana dari A. Future is moving lower. SMP 0:04:13.600 --> 0:04:16.080 futures are down five points right now down futures down 0:04:16.120 --> 0:04:19.200 fifty nine, and Nasdaq futures are lower by seventeen points 0:04:19.200 --> 0:04:22.000 at six fifty nine. On Wall Street, I'm Nathan Hager 0:04:22.040 --> 0:04:26.240 alongside Karen Moscow. Bloomberg Surveillance with Tom Keene and Lisa 0:04:26.360 --> 0:04:32.240 Brahmowitz starts right now, live from the financial capital of 0:04:32.279 --> 0:04:36.040 the World, broadcasting across the globe. This is wbb R 0:04:36.160 --> 0:04:46.960 New York, Bloomberg Living Frio. We are not focusing deep 0:04:47.320 --> 0:04:49.680 and very long recession, but let's not let's not be 0:04:49.800 --> 0:04:55.520 too markets headlines and breaking news twenty four hours a 0:04:55.600 --> 0:04:58.599 day at Bloomberg dot Com, the Bloomberg Business at and 0:04:58.760 --> 0:05:08.279 at Bloomberg Quick Ja. He's a Bloomberg Business last and 0:05:08.320 --> 0:05:11.440 I'm Karen Moscow. Futures are lower this morning. We get 0:05:11.440 --> 0:05:14.039 at the first word breaking news dance for today's morning call. 0:05:14.120 --> 0:05:17.720 Here's Don Maloney, l good morning and good morning. Can 0:05:17.800 --> 0:05:19.880 that's right. US futures trading in the red right now, 0:05:19.880 --> 0:05:22.680 with the futures down seventy seven points, SUPs drop eight 0:05:22.800 --> 0:05:26.360 n NEZ that futures are lower by two the US 0:05:26.600 --> 0:05:29.279 ten year old at three point six four percent. Gold 0:05:29.400 --> 0:05:32.160 is little changed. Oil trading in the green and Bitcoin 0:05:32.440 --> 0:05:35.880 is also trading little changed. Hong Kong rose two point 0:05:35.920 --> 0:05:39.320 seven percent overnight, while European markets are posting modest losses 0:05:39.360 --> 0:05:41.680 this morning. And back in the US on the economic 0:05:41.760 --> 0:05:44.720 front at a thirty g d P and initial joblos 0:05:44.800 --> 0:05:47.479 Kane claims after the bell last night, Micron gave a 0:05:47.600 --> 0:05:51.200 lackluster revenue outlook and look for carmacks and paychecks to 0:05:51.279 --> 0:05:54.440 report in the pre market. Indian News the ft report 0:05:54.480 --> 0:05:57.960 that black Rock considered buying Carlisle after the CEO left 0:05:58.320 --> 0:06:01.920 and wrapping things up Jeffreys Coctor Market Reform over at 0:06:02.080 --> 0:06:05.880 KBW Live from the first breaking news Tasco Bill Maloney, 0:06:05.920 --> 0:06:08.040 care all right, Bill, thank you to hear live breaking 0:06:08.040 --> 0:06:10.799 news over your Bloomberg type squawk on your terminal. Sue 0:06:10.839 --> 0:06:13.440 you a w K and that's a Bloomberg business flash. 0:06:13.480 --> 0:06:15.880 Now here's Michael Barrow with Moore on what's going on 0:06:15.920 --> 0:06:18.680 around the world. Michael Karen, thank you very much. Ukrainian 0:06:18.720 --> 0:06:22.839 President Voladimir Zelensky pressed the US Congress for tanks, planes 0:06:22.880 --> 0:06:26.200 and more money to help repel Russia's invasion. In his 0:06:26.320 --> 0:06:29.200 first trip abroad since the warsz Lensky sold a joint 0:06:29.200 --> 0:06:33.039 meeting of Congress that US support has been crucial so far. 0:06:33.600 --> 0:06:36.000 The reports set to be released today about the House 0:06:36.040 --> 0:06:40.880 Investigators claims that then President Donald Trump criminally plotted to 0:06:40.920 --> 0:06:45.440 overturn his twenty twenty election defeat and provoked his supporters 0:06:45.520 --> 0:06:49.000 to violence at the Capitol with false claims of voter fraud. 0:06:49.560 --> 0:06:52.080 In the NBA, the next loss the Nets down the 0:06:52.120 --> 0:06:55.560 Warriors one for three month thirteen in the NHL, the 0:06:55.640 --> 0:06:58.760 Devil's won Global News twenty four hours a day on 0:06:58.920 --> 0:07:01.640 air and on bloom a quick tank powered by more 0:07:01.680 --> 0:07:04.160 than twenty seven hundred journalists and analysts more than a 0:07:04.240 --> 0:07:07.840 hundred twenty countries. Michael Barr and this is Bloomberg hearing, 0:07:08.120 --> 0:07:09.960 all right, Michael Barr, thank you at a six forty 0:07:10.000 --> 0:07:11.760 two on Wall Street. And we turned to news and 0:07:11.880 --> 0:07:14.920 science and technology now with the Bloomberg and j I. 0:07:15.040 --> 0:07:18.360 T Stem report, and here's just making news and science, technology, 0:07:18.400 --> 0:07:22.200 engineering and math. Microsoft was find sixty four million dollars 0:07:22.240 --> 0:07:26.000 by France's privacy watchdog over its management of cookies on 0:07:26.080 --> 0:07:29.560 its Being search engine. Frances Data protection authorities that it 0:07:29.640 --> 0:07:32.880 carried out several checks on Being in September twenty and 0:07:33.880 --> 0:07:38.200 one and found cookies were deposited without user consent, even 0:07:38.200 --> 0:07:41.640 though they were used for advertising purposes. The us is 0:07:41.720 --> 0:07:45.400 first National cyber Director, Chris English, is reportedly planning to 0:07:45.400 --> 0:07:48.120 step down in the coming months. English worked as one 0:07:48.160 --> 0:07:51.080 of President Joe Biden's top cyber security advisers at a 0:07:51.160 --> 0:07:53.960 time when the US was struggling to combat a steady 0:07:54.000 --> 0:07:58.320 stream of ransomware attacks on both businesses and government agencies, 0:07:58.720 --> 0:08:01.120 and one of the largest miners of bitcoin became the 0:08:01.200 --> 0:08:03.840 latest company to file for bankruptcy amid the crypto Winter, 0:08:04.240 --> 0:08:07.600 Texas based Corpse Scientific file it's bankruptcy petition, citing a 0:08:07.680 --> 0:08:12.320 slump in bitcoin prices, high electricity costs, increased competition and 0:08:12.400 --> 0:08:16.720 litigation as impacting performance and liquidity, and as to Bloomberg 0:08:16.760 --> 0:08:20.040 and j I t Stem report. Nathan, Okay, Karen, thank you. 0:08:20.120 --> 0:08:22.920 It is sixty three on Wall Street Time now to 0:08:23.040 --> 0:08:26.280 check what's going on in DC on this morning. After 0:08:26.280 --> 0:08:30.480 a historic night on Capitol Hill, Ukraine's President Voladimir z 0:08:30.520 --> 0:08:34.480 Lensky urging Congress for more support in the war against Russia. 0:08:34.960 --> 0:08:38.520 We stand, we five, and we will win because we 0:08:38.559 --> 0:08:42.600 are united. But Ukraine aid in the massive spending bill, 0:08:42.800 --> 0:08:44.839 making its way through Congress could be hung up over 0:08:44.880 --> 0:08:48.839 a border policy dispute. Also making news, House Republicans report 0:08:48.880 --> 0:08:51.920 on the January sixth assault, focusing on security lapses and 0:08:52.080 --> 0:08:57.200 Trump allies shown taking the fifth in January sixth committee transcripts. 0:08:57.559 --> 0:09:00.599 Let's bring in Bloomberg Government congressional reporter Jack Patrick to 0:09:00.640 --> 0:09:03.920 get more on some of these stories. Jack, good morning. 0:09:04.000 --> 0:09:09.880 Quite an extraordinary address from the Ukrainian president last night. Yeah, 0:09:09.880 --> 0:09:13.600 and it got a good reception, a lot of standing 0:09:13.640 --> 0:09:18.120 ovations from members of Congress. Uh. Really a positive reception. 0:09:18.480 --> 0:09:21.760 Probably not surprising that they've got a positive reception, especially 0:09:21.840 --> 0:09:25.600 from those who attended. UM, given that you know, there 0:09:25.600 --> 0:09:29.920 have been negotiations going on in the capital about the 0:09:30.040 --> 0:09:32.280 level of support for Ukraine, what they were going to 0:09:32.360 --> 0:09:35.240 put in this spending bill. Uh. And especially when you 0:09:35.320 --> 0:09:40.840 look at congressional leaders UM, really a bipartisan group other 0:09:40.920 --> 0:09:46.199 than some House conservative Republicans. Uh. It's it's clear there 0:09:46.240 --> 0:09:50.720 there's still a lot of support, bipartisan support in Congress 0:09:50.760 --> 0:09:53.600 for Ukraine. And it seemed to be a motivating event 0:09:53.880 --> 0:09:57.880 for lawmakers to hear directly from President Zelinski in person. 0:09:58.320 --> 0:10:01.439 It'll be interesting to see whether that motivation continues into 0:10:01.480 --> 0:10:03.839 the next Congress, when we're expecting from what we've heard 0:10:03.840 --> 0:10:05.600 from Republicans that they're going to give a lot more 0:10:05.640 --> 0:10:09.199 scrutiny to Ukraine AID going forward. What's your sense from 0:10:09.200 --> 0:10:13.319 the congressional members that you've been speaking to about what 0:10:13.679 --> 0:10:16.840 AID will look like for Ukraine under the new Congress. 0:10:17.640 --> 0:10:23.120 You know, talking to I think leadership aligned Republicans, you 0:10:23.240 --> 0:10:26.959 hear that there's quite a bit of support. Um, even 0:10:27.160 --> 0:10:31.520 House Republicans who are on the Appropriations Committee who work 0:10:31.600 --> 0:10:35.120 on these funding requests that kind of thing. Uh, there 0:10:35.280 --> 0:10:38.520 there's a lot of support. If you're trying to pinpoint 0:10:38.880 --> 0:10:42.120 where the questions come from. Uh, you know, there's a 0:10:42.200 --> 0:10:46.320 conservative wing. You may have seen clips of Matt Gates 0:10:46.360 --> 0:10:49.559 and Lauren Boebert really the only two who didn't participate 0:10:49.600 --> 0:10:52.800 in some standing ovations who are in the chamber. Uh. 0:10:52.840 --> 0:10:57.440 Those types of lawmakers even were critical of Zelenski giving 0:10:57.440 --> 0:11:00.600 the speech in the first place. Um, it's a bit 0:11:00.640 --> 0:11:04.080 of a sort of a freedom Caucus sort of Republican 0:11:04.160 --> 0:11:07.840 who's who's not really happy about it. But uh, the 0:11:08.040 --> 0:11:13.280 Mitch McConnell types, the leadership aligned Republicans typically have said 0:11:13.280 --> 0:11:16.040 there's a lot of support for Ukraine. It's not going 0:11:16.080 --> 0:11:20.280 to be no strings attached. You could get into some debates, 0:11:20.720 --> 0:11:23.400 especially if the war ends and this turns into a 0:11:23.480 --> 0:11:27.120 question more of economic aid and rebuilding a there's a 0:11:27.120 --> 0:11:30.120 bit more scrutiny on the Republican side there. But as 0:11:30.200 --> 0:11:34.320 for defense aid, especially as Ukraine continues to have success 0:11:34.480 --> 0:11:39.000 on the battlefield, a really large portion of Republicans, in 0:11:39.040 --> 0:11:44.359 addition to virtually unanimous support among Democrats, are are supportive 0:11:44.360 --> 0:11:46.800 of these kinds of bills for Ukraine. Now, there is 0:11:46.840 --> 0:11:49.679 a lot of Ukraine aid in this omnibus spending bill 0:11:49.720 --> 0:11:52.120 that has to get past this week so lawmakers can 0:11:52.160 --> 0:11:54.199 go home. But I guess the bill is is getting 0:11:54.200 --> 0:11:58.160 delayed somewhat by a dispute over the Title forty two 0:11:58.559 --> 0:12:05.440 Border policy. Yeah, Title forty two. The pandemic immigration restrictions 0:12:05.520 --> 0:12:09.600 have really proven to be a tough issue that can 0:12:09.679 --> 0:12:13.320 hold up bills. UH, and that's the primary issue they're 0:12:13.320 --> 0:12:17.000 trying to work through for this whole omnibus government funding bill, 0:12:17.280 --> 0:12:20.520 which includes about a forty five billion dollar measure for 0:12:20.720 --> 0:12:24.680 Ukraine as well. UH. The Senate Republicans wanted to have 0:12:24.760 --> 0:12:29.680 an amendment vote to keep Title forty two in place. Uh, 0:12:29.720 --> 0:12:31.560 and they wanted that vote to be set at a 0:12:31.640 --> 0:12:34.880 simple majority threshold rather than the sixty vote threshold in 0:12:34.920 --> 0:12:37.720 the Senate that a lot of these amendments would normally get. 0:12:38.000 --> 0:12:42.400 Now that is tricky because that potentially could pass, but 0:12:42.480 --> 0:12:45.680 then the measure would probably fail in the House because 0:12:45.720 --> 0:12:50.240 they're depending very significantly on Democratic votes because House Republicans 0:12:50.280 --> 0:12:53.360 haven't signed off on this broader agreement. So they're at 0:12:53.400 --> 0:12:55.440 a bit of a it's a little bit of a 0:12:55.440 --> 0:12:58.880 catch twenty two situation where to get this through the Senate, 0:12:59.160 --> 0:13:03.600 you've got to ogociate some sort of deal on immigration, 0:13:03.800 --> 0:13:08.480 but then depend on probably almost purely democratic support in 0:13:08.520 --> 0:13:11.600 the House. And they're still trying to come up with 0:13:11.080 --> 0:13:14.000 a with an agreement on how quickly they can have 0:13:14.040 --> 0:13:15.920 a vote in the Senate to send this over to 0:13:15.960 --> 0:13:18.480 the House. And uh, you know, the funding the funding 0:13:18.480 --> 0:13:21.360 deadline is Friday night, so they're really bumping up against 0:13:21.360 --> 0:13:23.960 the deadline. And we're bumping up to a deadline. It 0:13:24.080 --> 0:13:26.319 seems to be extended for the full report to come 0:13:26.320 --> 0:13:29.400 out from the House January six committee. In our last minute, here, Jack, 0:13:29.440 --> 0:13:32.959 what are we expecting to hear? Uh? You know they 0:13:33.000 --> 0:13:36.840 they have bumped back their full report. I think a 0:13:36.880 --> 0:13:39.079 lot of what's going to be in the full report 0:13:39.600 --> 0:13:44.400 is has has come out to some extent in the 0:13:44.480 --> 0:13:47.640 hearings that they've done. They did release a few dozen 0:13:47.760 --> 0:13:51.840 transcripts in which a lot of key players pleaded the 0:13:51.840 --> 0:13:56.200 fifth and and refused to answer questions, even confirming their 0:13:56.240 --> 0:13:58.960 age in place of residence. Um So, if you have 0:13:59.160 --> 0:14:02.200 paid very lows attention to the case that the committee 0:14:02.200 --> 0:14:07.760 has made essentially detailing former President's Trump President Trump's centrality 0:14:07.800 --> 0:14:10.400 and what happened in January six, you have a pretty 0:14:10.400 --> 0:14:13.840 good idea of what's probably going to be in that report. Okay, Jack, 0:14:13.880 --> 0:14:16.720 thanks as always, and happy holidays. If we don't speak 0:14:16.720 --> 0:14:19.720 to you before, then that's Bloomberg Government Congressional reporter Jack 0:14:19.760 --> 0:14:22.400 Fitzpatrick with us from the nation's capital. And you can 0:14:22.440 --> 0:14:24.640 read much more about all these stories on Bloomberg dot 0:14:24.720 --> 0:14:27.600 com or on the Bloomberg terminal, and follow the latest 0:14:28.000 --> 0:14:32.120 on Bloomberg Radio in Washington. Bloomberg and one oh five 0:14:32.160 --> 0:14:35.520 point seven FM HD two Futures moving lower this morning, 0:14:35.640 --> 0:14:38.600 SMP futures down seven points, Stown futures down seventy five. 0:14:38.920 --> 0:14:41.200 NASTAC futures are lower by twenty three points, and the 0:14:41.200 --> 0:14:44.640 tenure treasury is up five thirty seconds, the yield three 0:14:44.680 --> 0:14:48.200 point six four per cent. You're listening to Bloomberg day 0:14:48.200 --> 0:14:54.520 Break live from the Bloomberg Interactive Burger Studios. Is is is 0:14:54.600 --> 0:14:58.400 Bloomberg day Break for Thursday December twenty second two. Coming 0:14:58.480 --> 0:15:01.600 up to Shower, Ukraine's p incident leads for more support 0:15:01.720 --> 0:15:05.160 in person to Congress. F t X executives plead guilty 0:15:05.160 --> 0:15:08.520 as their former CEO returns to the US. The largest 0:15:08.640 --> 0:15:11.560 US chipmaker warns more layoffs are on the way and 0:15:11.640 --> 0:15:14.800 investors hold out hope for a brief Santa Claus Rally, 0:15:14.960 --> 0:15:17.440 New York. Mayor Adams gives himself a B plus as 0:15:17.480 --> 0:15:20.400 he defends his record on crime plus demand. Charred with 0:15:20.520 --> 0:15:23.560 shooting up a Brooklyn subway car will now lead guilty 0:15:23.720 --> 0:15:26.200 on Michael barn Or The Head, I'm John stash Our. 0:15:26.240 --> 0:15:28.480 In sports, the Knicks Winspey came to an a easy 0:15:28.560 --> 0:15:30.880 win for the Nets. The Devil's One in the Jets 0:15:30.920 --> 0:15:37.160 host Jacksonville Tonight. That's all Training Ahead on Bloomberg Daybreak 0:15:37.520 --> 0:15:42.160 on Bloomberg eleven Trio, New York Bloomberg one, Washington, d C, 0:15:42.640 --> 0:15:46.240 Bloomberg one oh six one Boston, Bloomberg nine sixties and 0:15:46.320 --> 0:15:49.920 Francisco Sirius x M one nine team and around the 0:15:50.000 --> 0:15:53.280 world on Bloomberg Radio dot com and via the Bloomberg 0:15:53.320 --> 0:15:59.800 Business App. Hey, good morning. I'm Nathan Hager and I'm 0:16:00.080 --> 0:16:02.160 or in Moscow. You mus Stock index futures are a 0:16:02.200 --> 0:16:04.600 little change this morning. We checked the markets all day 0:16:04.680 --> 0:16:07.120 long here on bloomberg S and p NASDAK. Features that 0:16:07.160 --> 0:16:09.440 will change down features down at tenth of a percent 0:16:09.560 --> 0:16:12.680 now or forty two points. Nathan, Okay, Karen, thank you. 0:16:12.720 --> 0:16:14.240 We'll get more on the markets in a moment, but 0:16:14.360 --> 0:16:17.040 we want to begin with a historic night in Washington. 0:16:17.200 --> 0:16:21.120 Ukraine's President vladimir's Lenski made an emotional address in person 0:16:21.400 --> 0:16:24.360 to a joint meeting of Congress. Bloomberg's head Baxter reports 0:16:24.920 --> 0:16:29.520 standing ovation after standing ovation from both sides of the aisle. 0:16:29.920 --> 0:16:33.840 The message Ukraine is alive and kicking and thanking US 0:16:33.880 --> 0:16:36.320 families for their support and now what people will have 0:16:36.440 --> 0:16:40.400 to go to boom shelters on Christmas Eve, Ukrainias will 0:16:40.480 --> 0:16:44.040 still sit down at the holiday table and cheer up 0:16:44.160 --> 0:16:47.000 each other. Zelenski says a free world will show all 0:16:47.080 --> 0:16:50.200 potential aggressors that the world will stand up to tyranny. 0:16:50.720 --> 0:16:52.880 He says next year will be a turning point of 0:16:52.920 --> 0:16:55.840 the war. He presented Congress with a flag from the 0:16:55.880 --> 0:16:59.360 war's front in San Francisco. I'm at Baxter Bloomberg Gay 0:16:59.400 --> 0:17:01.920 break all right, and thanks. And this was President Zelenski's 0:17:01.920 --> 0:17:05.200 first trip outside his country since the Russian invasion. In February. 0:17:05.480 --> 0:17:08.040 Before the speech, Zelinski paid a visit to the White 0:17:08.119 --> 0:17:10.480 House or President Biden stood by his side at a 0:17:10.560 --> 0:17:14.360 joint news conference and pledged his continued support. I want 0:17:14.400 --> 0:17:16.320 you to know that all the people who Ukraine to 0:17:16.440 --> 0:17:19.280 know as well the American people were with you every 0:17:19.280 --> 0:17:21.639 step of the way, and we will stay with you. 0:17:21.960 --> 0:17:24.040 We will stay with you for as long as it 0:17:24.160 --> 0:17:27.120 takes when. The Biden administration also announced nearly one point 0:17:27.200 --> 0:17:30.440 nine billion dollars in additional military aid to Ukraine, including 0:17:30.480 --> 0:17:34.200 a Patriot missile battery. Russian President Vladimir Putin meanwhile said 0:17:34.240 --> 0:17:37.800 Russia has no limitations on its own military spending to 0:17:37.880 --> 0:17:41.000 continue the war. Well, Nathan, We're following another story out 0:17:41.040 --> 0:17:43.600 of DC this morning. A group of House Republicans has 0:17:43.640 --> 0:17:46.800 released a counter rapport to the House Select Committee's investigation 0:17:46.920 --> 0:17:50.760 into the January six capital assault. Seventy eight page report 0:17:51.080 --> 0:17:55.159 partly Blame's Democratic leaders for security failures and says intelligence 0:17:55.200 --> 0:17:58.600 and law enforcement failures left the capital complex vulnerable. The 0:17:58.720 --> 0:18:01.240 January six Committee is a expected to release it's full 0:18:01.320 --> 0:18:04.480 report today. A let's turn from the Capital to cryptocurrency 0:18:04.480 --> 0:18:05.960 and get to the latest on the f t X 0:18:06.040 --> 0:18:09.639 collapse to top executives have pleaded guilty to criminal charges. 0:18:10.040 --> 0:18:12.840 As the former CEO of f t X, Sam Bankman Freed, 0:18:13.000 --> 0:18:16.840 returns to the US, Bloomberg Steve Rappaport joins US Live 0:18:16.920 --> 0:18:19.480 with that story. Good morning, Steve, Good morning, Nathan and Karen. 0:18:19.720 --> 0:18:22.600 Spf found himself with fewer friends upon arriving in New 0:18:22.680 --> 0:18:25.560 York last night, as Caroline Ellison and Gary Wang pled 0:18:25.640 --> 0:18:29.000 guilty to fraud. The plea agreements say prosecutors will recommend 0:18:29.040 --> 0:18:32.880 reduced sentences if they provide substantial assistance to the investigation. 0:18:33.240 --> 0:18:35.280 The move puts pressure on Bankman Freed ahead of his 0:18:35.320 --> 0:18:38.479 appearance in federal court today on charges of fraud, money laundering, 0:18:38.560 --> 0:18:41.440 and other counts. His lawyers may seek bail. Live in 0:18:41.480 --> 0:18:44.399 New York. I'm Steve Rappaport, Bloomberg Day Break. All right, Steve, 0:18:44.440 --> 0:18:46.920 thank you about the pivot away from COVID zero continues 0:18:47.000 --> 0:18:49.520 in China. This morning, we're learning China plans to cut 0:18:49.600 --> 0:18:53.520 quarantine requirements for overseas travelers in January. Sources tell US 0:18:53.560 --> 0:18:56.840 officials are considering a zero plus three policy that would 0:18:56.880 --> 0:18:59.280 mean tourists would no longer be required to spend time 0:18:59.560 --> 0:19:03.360 in a quarantine hotel or isolation facility, and arrivals into 0:19:03.359 --> 0:19:05.960 the country would instead be Sunday to three days of monitoring. 0:19:06.359 --> 0:19:08.959 Let's take a look at markets again, Karen. Futures are 0:19:09.160 --> 0:19:12.280 little changed to lower this morning. When global stocks advanced 0:19:12.320 --> 0:19:14.600 for a third day yesterday as we edged closer to 0:19:14.640 --> 0:19:18.280 that Christmas holiday, US shairs climbed on improved consumer confidence 0:19:18.320 --> 0:19:21.479 and better than expected earnings from FedEx and Nike. Earlier 0:19:21.560 --> 0:19:23.879 this week, markets snapped a four day slide that was 0:19:23.920 --> 0:19:27.320 sparked by hawkish Central bankuetering well in Asia. Nathan Stockship 0:19:27.359 --> 0:19:29.240 staffed a losing streak of their own, coming off the 0:19:29.280 --> 0:19:32.600 Bank of Japan surprise policy move earlier this week, and Bloomberry, 0:19:32.640 --> 0:19:34.920 Spry and Curtis joins US from Hong Kong with more 0:19:35.440 --> 0:19:38.920 stocks rallied in Asia, snapping five days of declines. The 0:19:39.000 --> 0:19:41.760 biggest moves were in Hong Kong, where the benchmark index 0:19:41.880 --> 0:19:44.640 rose about two and a half percent. Property companies led 0:19:44.720 --> 0:19:47.920 the way after regulators said they'd support the sector's growth. 0:19:48.240 --> 0:19:52.200 Shares also jumped in Japan, South Korea and Australia. Treasuries 0:19:52.320 --> 0:19:54.600 rose slightly in Asia as the fallout from the Bank 0:19:54.680 --> 0:19:58.639 of japan surprise policy shift began to EBB the En 0:19:59.080 --> 0:20:02.920 resumed its ad dance brand Curtis Bloomberg Daybreak, Okay, Brian, 0:20:02.960 --> 0:20:05.560 thank you a meanytime over in Europe, UK household saw 0:20:05.560 --> 0:20:08.760 their living standards fall amid a contraction in the third quarter. 0:20:09.000 --> 0:20:11.159 Bloomberg's You and Potts joins us from London with the 0:20:11.240 --> 0:20:13.480 latest good Morning You and Good Morning Nathan and Karen. 0:20:13.560 --> 0:20:16.200 Household incomes in the UK have fallen for a fourth 0:20:16.400 --> 0:20:19.280 straight quarter, leaving Britain's on course for the worst period 0:20:19.320 --> 0:20:22.440 for living standards in memory. Real incomes per head were 0:20:22.520 --> 0:20:25.200 three point one percent lower in the third quarter from 0:20:25.320 --> 0:20:28.879 a year earlier. Final GDP data meanwhile registered a no 0:20:29.080 --> 0:20:32.000 point three percent drop in the lakes quarter more than 0:20:32.080 --> 0:20:35.880 previously estimated. The reading is consistent with the economists expectations 0:20:35.960 --> 0:20:39.040 that the UK is already in recession. In London, I'm 0:20:39.040 --> 0:20:41.280 you and Pots day break, are you, and thanks for 0:20:41.440 --> 0:20:44.760 taking a look at corporate news now, America's largest memory chipmaker, 0:20:44.840 --> 0:20:47.879 Micron Technology, is out with a lackluster revenue outlook and 0:20:47.920 --> 0:20:50.720 a warning that will have to trim its workforce. Bloomberg 0:20:51.000 --> 0:20:53.760 Prisoner joins us with that story. The company has already 0:20:53.800 --> 0:20:57.280 pledged to reduce output in slow expansion projects as a 0:20:57.359 --> 0:21:00.480 way of limiting the availability of memory chips. Even so, 0:21:00.680 --> 0:21:04.280 Micron's forecast indicates the glut may drag on given a 0:21:04.359 --> 0:21:07.600 slump in demand. Sales will be about eighty million dollars 0:21:07.640 --> 0:21:10.920 below forecast, and Micron is projecting a loss of about 0:21:11.000 --> 0:21:14.560 sixty two cents to share excluding certain items. That's more 0:21:14.640 --> 0:21:18.600 than twice what analysts were estimating. Given these challenges, Micron 0:21:18.680 --> 0:21:21.480 will reduce its workforce by about ten percent over the 0:21:21.560 --> 0:21:24.680 next year. In New York, I'm Doug Prisoner, Bloomberg Daybreak, 0:21:24.840 --> 0:21:26.639 All right, don thank you and taking a look at 0:21:26.680 --> 0:21:29.760 Micron right now. It's down about three percent in early 0:21:29.840 --> 0:21:33.960 trading and futures this morning. They are little changed to lower. 0:21:34.240 --> 0:21:36.600 SMP futures now down about a tenth of a percent 0:21:36.680 --> 0:21:39.400 down about four points down. Futures down almost two tenths 0:21:39.440 --> 0:21:42.280 per cent an hour forty nine points, and NASDAG futures 0:21:42.280 --> 0:21:44.680 down about a tenth of upper center ten points. Straight 0:21:44.680 --> 0:21:47.720 ahead your latest local headlines plus the check of sports, 0:21:47.880 --> 0:21:54.520 and this is Bloomberg. Thanks tearing at six oh seven 0:21:54.560 --> 0:21:57.440 on Wall Street. Clear sky thirty six degrees in Central Park. 0:21:57.520 --> 0:21:59.680 But it is going to turn rainy and windy this 0:22:00.000 --> 0:22:04.159 afternoon into tomorrow. Heist today in the upper forties. That 0:22:04.280 --> 0:22:07.440 wind Advisor kicks in at ten tonight, and Michael Barr 0:22:07.560 --> 0:22:09.639 is here with more on what's going on in New 0:22:09.720 --> 0:22:12.520 York and around the world as we brace for this storm. 0:22:12.600 --> 0:22:16.200 Michael Oh, Yes, Nathan, Millions of Americans taking to the 0:22:16.320 --> 0:22:20.119 roads and skies before Christmas could face big trouble getting 0:22:20.160 --> 0:22:23.920 to their destinations on time because of the massive winter storm. 0:22:24.400 --> 0:22:27.680 Several major hubs, including New York City. We're all in 0:22:27.760 --> 0:22:31.040 the path of the storm and face significant disruptions. This 0:22:31.240 --> 0:22:33.840 man was sent it to Orlando from New York trying 0:22:33.880 --> 0:22:36.200 to get out ahead of the storm to see his family. 0:22:38.119 --> 0:22:45.640 We've been separated for a long time California before Night 0:22:45.720 --> 0:22:51.800 again Christmas. It's not just air flights being canceled. Amtrak 0:22:51.880 --> 0:22:55.320 has scrap service for dozens of routes. Also, Greyhound has 0:22:55.359 --> 0:22:58.919 scraped some service. New York City Mayor Eric Adams defended 0:22:58.960 --> 0:23:02.080 his record on crime, giving himself a B plus in 0:23:02.200 --> 0:23:06.359