1 00:00:00,720 --> 00:00:03,360 Speaker 1: By from a Bloomberg in director Brooker Studios. Is is is 2 00:00:03,480 --> 00:00:08,119 Speaker 1: Bloomberg Day Bright for Tuesday, September two Coming up this hour, 3 00:00:08,400 --> 00:00:11,520 Speaker 1: US Futures rise, following the lowest clothes for the SMP 4 00:00:11,640 --> 00:00:14,960 Speaker 1: five hundred in almost two years. Despite the market turmoil, 5 00:00:15,000 --> 00:00:18,520 Speaker 1: FETE officials remained hawkish in their fight against infliction. Double 6 00:00:18,560 --> 00:00:21,880 Speaker 1: Line Capital's Jeffrey Gunlack thinks the worst global bond route 7 00:00:21,880 --> 00:00:25,079 Speaker 1: in decades maybe over, and traders increased bets the pound 8 00:00:25,120 --> 00:00:28,000 Speaker 1: could fall to parody with the dollar HURRICANEY and his 9 00:00:28,120 --> 00:00:31,440 Speaker 1: gaining strength as it heads toward Florida. Plus, we've learned 10 00:00:31,480 --> 00:00:34,080 Speaker 1: that it was a small tornado that sets down late 11 00:00:34,120 --> 00:00:37,159 Speaker 1: Sunday on Long Island. I'm Michael larn More, I'm John 12 00:00:37,240 --> 00:00:39,440 Speaker 1: fish Our in sports the Giant Stuff for their first 13 00:00:39,479 --> 00:00:44,720 Speaker 1: loss being Yankees lost in next Fannings in Toronto. That's 14 00:00:44,760 --> 00:00:48,440 Speaker 1: All's Trady Head on Bloomberg Day Break on Bloomberg eleven, 15 00:00:48,479 --> 00:00:53,000 Speaker 1: Free on New York, Bloomberg one, Washington, d C, Bloomberg 16 00:00:53,000 --> 00:00:57,680 Speaker 1: one oh six one, Boston, Bloomberg nine sixty, San Francisco, Syrias, 17 00:00:57,840 --> 00:01:00,160 Speaker 1: x M one nine Team and around the World Old 18 00:01:00,200 --> 00:01:03,680 Speaker 1: on Bloomberg Radio dot com and via the Bloomberg Business App. 19 00:01:07,520 --> 00:01:10,120 Speaker 1: And good morning. I'm Karar at Moscow. I'm Nathan Hagar. 20 00:01:10,160 --> 00:01:12,920 Speaker 1: Bloomberg Daybreak is brought to you by SEI. Built on 21 00:01:12,959 --> 00:01:16,720 Speaker 1: advanced technologies and fifty years of innovation. SEI offers asset 22 00:01:16,760 --> 00:01:20,800 Speaker 1: managers a comprehensive and flexible operations outsourcing platform. Go to 23 00:01:21,000 --> 00:01:24,680 Speaker 1: se i C dot com, slash managers and US stock 24 00:01:24,760 --> 00:01:27,600 Speaker 1: index futures are on the rise this morning at six 25 00:01:27,600 --> 00:01:29,360 Speaker 1: oh one on Wall Street, and we check the markets 26 00:01:29,400 --> 00:01:32,319 Speaker 1: every fifteen minutes throughout the trading day. On Bloomberg s 27 00:01:32,360 --> 00:01:35,280 Speaker 1: and P futures up twenty seven points, DAL future is 28 00:01:35,360 --> 00:01:38,120 Speaker 1: up one dred fifty three and NASDAG futures up one D. 29 00:01:38,280 --> 00:01:41,399 Speaker 1: Ten year Treasury up twenty three thirty seconds here three 30 00:01:41,440 --> 00:01:44,360 Speaker 1: point three percent. Nathan hearing the rise in futures this 31 00:01:44,440 --> 00:01:47,320 Speaker 1: morning follows the lowest clothes for the SNP fived since 32 00:01:47,360 --> 00:01:50,760 Speaker 1: December of ten. Year. Treasury yields are holding near their 33 00:01:50,800 --> 00:01:54,320 Speaker 1: highest level since while the dollar has snapped a five 34 00:01:54,400 --> 00:01:58,520 Speaker 1: day gain still, Daniel Gerard, multi assets strategist at State Street, 35 00:01:58,560 --> 00:02:01,120 Speaker 1: sees more strength the head of the dollar as we 36 00:02:01,160 --> 00:02:03,840 Speaker 1: get more bad news that's going to really hit the 37 00:02:04,200 --> 00:02:07,720 Speaker 1: earnings growth and the earning growth potential, margins, etcetera. And 38 00:02:07,880 --> 00:02:10,440 Speaker 1: there were just isn't um. There aren't a lot of 39 00:02:10,440 --> 00:02:12,320 Speaker 1: good stories to find out here, and I think that 40 00:02:12,400 --> 00:02:15,000 Speaker 1: we're in a relative world. We've got to do our best. 41 00:02:15,480 --> 00:02:19,920 Speaker 1: But US dollar looks like the UH the asset to 42 00:02:19,960 --> 00:02:23,040 Speaker 1: hold right now on state streets. Daniel Gerard also favors 43 00:02:23,040 --> 00:02:25,959 Speaker 1: equities over bonds going forward well, as fears of a 44 00:02:25,960 --> 00:02:28,800 Speaker 1: global recession continue to swirl. Nathan, we have a couple 45 00:02:28,880 --> 00:02:31,400 Speaker 1: more bearish calls on equities this morning, and we get 46 00:02:31,400 --> 00:02:35,600 Speaker 1: the details from Bloomberg's Lisa Matteo. Goldman, SAX and black 47 00:02:35,680 --> 00:02:38,280 Speaker 1: Rock are both warning that markets are yet to price 48 00:02:38,320 --> 00:02:41,640 Speaker 1: and the risk of a global recession. Goldman strategists, flagging 49 00:02:41,760 --> 00:02:44,679 Speaker 1: rising real yields as a major headwind, cut equities to 50 00:02:44,760 --> 00:02:48,080 Speaker 1: underweight in the US investment banks global allocation over the 51 00:02:48,080 --> 00:02:52,240 Speaker 1: next three months. It's staying overweight in cash. Meantime, black 52 00:02:52,320 --> 00:02:55,680 Speaker 1: Rock is advising investors to shun most stocks. It says 53 00:02:55,720 --> 00:02:59,480 Speaker 1: that it is tactically underweight developed market shares and prefers 54 00:02:59,520 --> 00:03:02,600 Speaker 1: credit in the short term. In New York, Lisa Mateo 55 00:03:02,680 --> 00:03:05,720 Speaker 1: Bloomberg daybreak at Lisa, thank you. The turmoil in market 56 00:03:05,760 --> 00:03:09,359 Speaker 1: shows little sign of turning Fed officials away from hawkish policy. 57 00:03:09,440 --> 00:03:13,040 Speaker 1: Boston FED President Susan Collins and her Cleveland counterpart Lorettamester 58 00:03:13,120 --> 00:03:16,600 Speaker 1: say additional tightening is still needed to slow inflation. Here's 59 00:03:16,600 --> 00:03:19,920 Speaker 1: Collins in her first public speech since taking office. Returning 60 00:03:20,040 --> 00:03:23,800 Speaker 1: inflation to our two percent target will require further tightening 61 00:03:23,800 --> 00:03:27,760 Speaker 1: of monetary policy, as signaled in the recent f o 62 00:03:27,880 --> 00:03:31,880 Speaker 1: MC projections. It will be important to see clear and 63 00:03:31,919 --> 00:03:35,360 Speaker 1: convincing signs that inflation is falling. At the same time, 64 00:03:35,400 --> 00:03:38,520 Speaker 1: Boston FED President Susan Collins says it's quite likely inflation 65 00:03:38,600 --> 00:03:41,880 Speaker 1: may have peaked. There's at least one major investor who 66 00:03:41,880 --> 00:03:44,800 Speaker 1: thinks the worst global bond route in decades is creating 67 00:03:44,800 --> 00:03:47,960 Speaker 1: a buying opportunity. Nathan and a sweet double line. Capital's 68 00:03:48,000 --> 00:03:51,960 Speaker 1: Jeffrey Gunlog says, quote the US treasury bond market is rallying. 69 00:03:52,120 --> 00:03:54,840 Speaker 1: He says he's been buying. The British pound is stronger 70 00:03:54,880 --> 00:03:57,200 Speaker 1: today care and after it hit a record low Monday's 71 00:03:57,240 --> 00:04:00,680 Speaker 1: still traders are increasing that sterling could fall to parody 72 00:04:00,800 --> 00:04:02,560 Speaker 1: with the dollar. Let's go to London and get the 73 00:04:02,600 --> 00:04:05,800 Speaker 1: latest with Bloomberg's You Win Parts, Good Morning, Karen Nathan. 74 00:04:05,840 --> 00:04:08,640 Speaker 1: The pound and guilt recovering some ground today after that 75 00:04:08,800 --> 00:04:13,280 Speaker 1: historic sell off. Sterling rallying after collapsing to a record 76 00:04:13,480 --> 00:04:17,119 Speaker 1: low against the dollar on Monday. The UK market's still 77 00:04:17,200 --> 00:04:20,560 Speaker 1: vulnerable after the plunge that followed when new Chancellor Quasi 78 00:04:20,680 --> 00:04:25,200 Speaker 1: Quartering unveiled the country's biggest fiscal giveaway in half a century. 79 00:04:25,600 --> 00:04:28,680 Speaker 1: He said to meet top bankers later today. It may 80 00:04:28,720 --> 00:04:31,640 Speaker 1: not be the warm reception that he was originally hoping for. 81 00:04:31,960 --> 00:04:34,320 Speaker 1: In London, I'm you and parts bloom Boke daybreak, are 82 00:04:34,440 --> 00:04:37,440 Speaker 1: you and Thanks? In Asia, overnight starts traded slightly higher 83 00:04:37,480 --> 00:04:39,760 Speaker 1: despite yesterday's so often that you were so we get 84 00:04:39,760 --> 00:04:43,279 Speaker 1: the reach out from Bloomberg's Juliet Sally and Singapore Good morning, Juliet, 85 00:04:43,520 --> 00:04:46,719 Speaker 1: Good morning Karen. A gauge of the region's equities fluctuated 86 00:04:46,839 --> 00:04:49,880 Speaker 1: as shares edged higher in Japan and Australia, while Hong 87 00:04:49,920 --> 00:04:53,200 Speaker 1: Kong stocks traded at an eleven year low. Bonds remained 88 00:04:53,240 --> 00:04:55,600 Speaker 1: under pressure in Australia and Japan, where the yield on 89 00:04:55,640 --> 00:04:58,159 Speaker 1: the twenty year topped one for the first time since 90 00:04:59,320 --> 00:05:02,159 Speaker 1: prompting the Bank of Japan to announce another unscheduled bond 91 00:05:02,200 --> 00:05:05,600 Speaker 1: buying operation, this time at the long End in Singapore. 92 00:05:05,680 --> 00:05:08,640 Speaker 1: Juliet Sally Bloomba daybreak. All right, Juliette. Thanks back here. 93 00:05:08,680 --> 00:05:11,200 Speaker 1: In the US, gasoline prices have fallen from their peak 94 00:05:11,240 --> 00:05:13,440 Speaker 1: this summer, but they are still weighing on the White House, 95 00:05:13,760 --> 00:05:16,359 Speaker 1: and that has President Biden sending a message to fuel 96 00:05:16,360 --> 00:05:29,919 Speaker 1: companies prices products. President Biden spoke at a meeting of 97 00:05:29,960 --> 00:05:33,040 Speaker 1: his White House Competition Council. Oil prices fell more than 98 00:05:33,120 --> 00:05:36,000 Speaker 1: nine percent last month. Gas has followed suit, but the 99 00:05:36,040 --> 00:05:38,960 Speaker 1: President says prices are uneven across the country, especially in 100 00:05:38,960 --> 00:05:41,800 Speaker 1: the West, due to low refining capacity and checking oil 101 00:05:41,839 --> 00:05:43,960 Speaker 1: prices now, nime X screwed is up one point two 102 00:05:44,040 --> 00:05:46,520 Speaker 1: per cent, or eighty nine cents at seventy seven dollar 103 00:05:46,600 --> 00:05:48,920 Speaker 1: sixty cents in barrel. Brent is hired by one point 104 00:05:48,920 --> 00:05:52,160 Speaker 1: four percent at eighty five dollars twenty two cents. Meantime, 105 00:05:52,200 --> 00:05:55,159 Speaker 1: like Capitol hillmath and the possibility of a government shutdown 106 00:05:55,320 --> 00:05:58,000 Speaker 1: looms this week and now send A, Democrats have released 107 00:05:58,000 --> 00:06:00,040 Speaker 1: a short term funding bill to try to avoid a 108 00:06:00,120 --> 00:06:02,880 Speaker 1: shut down. Bloomberg's Amy Morris has a details from our 109 00:06:03,680 --> 00:06:06,840 Speaker 1: newsroom in Washington. The bill would keep the government open 110 00:06:06,880 --> 00:06:09,919 Speaker 1: through December sixteenth. It includes the measure that will speed 111 00:06:09,960 --> 00:06:13,400 Speaker 1: up energy project permits, something that's opposed by Republicans and 112 00:06:13,440 --> 00:06:15,920 Speaker 1: some Democrats. Congress can strip that out if it's a 113 00:06:15,920 --> 00:06:19,159 Speaker 1: deal breaker. It provides twelve point four billion dollars in 114 00:06:19,279 --> 00:06:22,600 Speaker 1: Ukraine aid. It includes two billion dollars for disaster aid 115 00:06:22,839 --> 00:06:26,200 Speaker 1: and another billion dollars for home heating assistance. It allows 116 00:06:26,200 --> 00:06:28,880 Speaker 1: the FDA to collect user fees for five years to 117 00:06:29,000 --> 00:06:31,800 Speaker 1: prevent a funding shortfall at the Food and Drug Administration. 118 00:06:32,120 --> 00:06:35,960 Speaker 1: Congress must pass the measure by midnight Friday. In Washington. 119 00:06:36,040 --> 00:06:38,560 Speaker 1: I'm Amy Morris, Bloomberg Daybreak. All right, Amy, thank you, 120 00:06:38,600 --> 00:06:41,640 Speaker 1: and corporate news of Biogen whistleblower will collect almost two 121 00:06:41,680 --> 00:06:45,120 Speaker 1: hundred fifty million dollars for exposing a kickback scheme. The 122 00:06:45,120 --> 00:06:47,520 Speaker 1: company agreed to resolve the matter by paying the US 123 00:06:47,600 --> 00:06:51,000 Speaker 1: and state governments nine hundred million dollars. The False Claims 124 00:06:51,040 --> 00:06:53,640 Speaker 1: Act allows individuals to sue on behalf of the US 125 00:06:53,720 --> 00:06:56,760 Speaker 1: and get a cut of any money recovered. And futures 126 00:06:56,760 --> 00:06:59,799 Speaker 1: this morning are on the rise. SNP futures up thirty 127 00:06:59,800 --> 00:07:02,280 Speaker 1: points down. Future is up one hundred seventy one and 128 00:07:02,400 --> 00:07:07,080 Speaker 1: nasday futures up one d ten year treasury up thirty seconds. 129 00:07:07,080 --> 00:07:10,280 Speaker 1: You three and he yelled on the two year four 130 00:07:10,360 --> 00:07:14,120 Speaker 1: point to five percent and a straight ahead. We have 131 00:07:14,240 --> 00:07:18,040 Speaker 1: your latest local headlines, plus a check of sports, and 132 00:07:18,280 --> 00:07:24,360 Speaker 1: this is Bloomberg, all right, Karen, thank you. At six 133 00:07:24,400 --> 00:07:27,440 Speaker 1: o seven on Wall Street, sixty one degrees in Central Parks. 134 00:07:27,440 --> 00:07:30,119 Speaker 1: Still got problems getting to JFK Airport. He's found Nassau 135 00:07:30,120 --> 00:07:32,880 Speaker 1: Expressway has got an accident at the Van wick More 136 00:07:32,960 --> 00:07:35,120 Speaker 1: coming up in traffic first, Michael Bark with what else 137 00:07:35,160 --> 00:07:36,880 Speaker 1: is going on in New York and around the world. Michael, 138 00:07:36,920 --> 00:07:40,040 Speaker 1: thank you very much. Nathan hurricane in his gaining strength 139 00:07:40,120 --> 00:07:43,840 Speaker 1: on a path towards Florida. It is threatening to become 140 00:07:43,880 --> 00:07:46,720 Speaker 1: the worst storm to hit Tampa in over a century. 141 00:07:47,080 --> 00:07:49,160 Speaker 1: The National Hurricane Center says i End is now a 142 00:07:49,200 --> 00:07:53,120 Speaker 1: Category three storm. Mandatory evaculations are in parts of Florida. 143 00:07:53,520 --> 00:07:57,000 Speaker 1: State Emergency Management Director Kevin Guthrie is in Penellas County. 144 00:07:57,200 --> 00:08:00,280 Speaker 1: We do have telephone companies on standby, ready to store 145 00:08:00,320 --> 00:08:03,480 Speaker 1: critical cellular service of power's loss. But in the meantime, 146 00:08:03,800 --> 00:08:07,400 Speaker 1: Florida should be prepared to have a communications plan in 147 00:08:07,520 --> 00:08:11,280 Speaker 1: place with her families. Bloomberg meteorologist Rob Carolina has the 148 00:08:11,320 --> 00:08:15,480 Speaker 1: latest on Ian Michael. Hurricane Ian made landfall over western 149 00:08:15,560 --> 00:08:18,120 Speaker 1: Cuba earlier this morning. Is a major hurricane with sustained 150 00:08:18,160 --> 00:08:20,080 Speaker 1: winds of a hundred and fifteen miles an hour. It 151 00:08:20,120 --> 00:08:22,360 Speaker 1: will re emerge in the eastern Gulf of Mexico later 152 00:08:22,480 --> 00:08:25,080 Speaker 1: this morning and then re strengthen and work its way 153 00:08:25,200 --> 00:08:27,640 Speaker 1: up towards the Tampa area. Looks like it will be 154 00:08:27,680 --> 00:08:30,640 Speaker 1: making landfalls somewhere in Pinellas County late Wednesday night or 155 00:08:30,640 --> 00:08:33,199 Speaker 1: early Thursday morning, and the problem with the storm is 156 00:08:33,240 --> 00:08:35,400 Speaker 1: it will be very strong at that time. It's also 157 00:08:35,480 --> 00:08:37,480 Speaker 1: going to stall out and it looks like it is 158 00:08:37,520 --> 00:08:40,240 Speaker 1: going to rate the Tampa area for maybe twenty four 159 00:08:40,320 --> 00:08:42,680 Speaker 1: to thirty six hours with high winds, heavy rain, and 160 00:08:42,720 --> 00:08:46,040 Speaker 1: storm surges. Michael, Rob, thank you, sir. We're learning that 161 00:08:46,080 --> 00:08:49,800 Speaker 1: a small tornado touched down on Long Island last Sunday night. 162 00:08:50,080 --> 00:08:52,439 Speaker 1: The National Weather Service has an e F zero twister 163 00:08:52,720 --> 00:08:55,920 Speaker 1: hit part of Suffolk County around eleven pm. They say 164 00:08:55,920 --> 00:08:58,640 Speaker 1: the tornado had an estimated peak wind of seventy five 165 00:08:58,679 --> 00:09:01,800 Speaker 1: miles per hour when hit the town of Mattatuck no 166 00:09:01,960 --> 00:09:06,280 Speaker 1: serious damage. Five days after President Vladimir Putin announced the 167 00:09:06,320 --> 00:09:09,560 Speaker 1: partial mobilization to call up hundreds of thousands of reserves 168 00:09:09,640 --> 00:09:13,280 Speaker 1: to fight in Ukraine, the move continues to trigger outrage 169 00:09:13,280 --> 00:09:16,520 Speaker 1: protests across a Russia. It has also led to an 170 00:09:16,520 --> 00:09:19,760 Speaker 1: exodus of men of fighting age from the country and 171 00:09:19,920 --> 00:09:24,640 Speaker 1: acts of violence. NASA deliberately crashed a dart spacecraft into 172 00:09:24,679 --> 00:09:27,880 Speaker 1: the small moon of an asteroid seven million miles away 173 00:09:27,920 --> 00:09:31,319 Speaker 1: from Earth in an attempt to change its orbit. Planetary 174 00:09:31,400 --> 00:09:35,560 Speaker 1: scientists Emily Lakdawa says this is the first time that 175 00:09:35,720 --> 00:09:37,960 Speaker 1: humans have altered the path of another object in the 176 00:09:37,960 --> 00:09:40,920 Speaker 1: Solar System. Well, this one poses no threat to us. 177 00:09:41,360 --> 00:09:44,840 Speaker 1: It does give us the first experience and understanding how 178 00:09:44,880 --> 00:09:48,720 Speaker 1: we could prevent a, you know, civilization devastating threat if 179 00:09:48,760 --> 00:09:52,319 Speaker 1: discovered in the future. Planetary scientists Emily like Dwala says 180 00:09:52,400 --> 00:09:54,760 Speaker 1: it will take NASA a couple of months to determine 181 00:09:54,800 --> 00:09:58,400 Speaker 1: exactly how much the asteroids path was changed. Global News 182 00:09:58,440 --> 00:10:00,680 Speaker 1: twenty four hours a day on air end on Bloomberg 183 00:10:00,760 --> 00:10:03,439 Speaker 1: quick Take, powered by more than seven hundred journalists and 184 00:10:03,440 --> 00:10:05,959 Speaker 1: analysts more than a hundred twenty countries. I'm Michael Bart. 185 00:10:06,000 --> 00:10:13,000 Speaker 1: This is Bloomberg, Nathan. Thank you, Michael. Almost six ten 186 00:10:13,000 --> 00:10:15,240 Speaker 1: on Wall Street, time for the Bloomberg Sports Update with 187 00:10:15,480 --> 00:10:17,800 Speaker 1: John Stashown. All right, Nathan, the Giants we're looking for 188 00:10:17,800 --> 00:10:20,040 Speaker 1: their first three and those starts. In two thousand nine, 189 00:10:20,200 --> 00:10:23,360 Speaker 1: when se Kwan Barkley scored on a thirty six yeard 190 00:10:23,520 --> 00:10:24,920 Speaker 1: run on the third quarter of the Giants had a 191 00:10:25,000 --> 00:10:28,199 Speaker 1: seven point lead, but Dallas scored the next seventeen. The 192 00:10:28,320 --> 00:10:30,800 Speaker 1: Cowboys won three to sixteen, and both teams are two 193 00:10:30,800 --> 00:10:33,520 Speaker 1: and one. Big Blue done in by a familiar problem, 194 00:10:33,600 --> 00:10:36,960 Speaker 1: the inability to protect the quarterback. Daniel Jones was sacked 195 00:10:37,600 --> 00:10:40,880 Speaker 1: or at least harassed over twenty times. Jones's coach is 196 00:10:40,920 --> 00:10:42,719 Speaker 1: Brian day Ball. He did a good job. So he 197 00:10:42,760 --> 00:10:44,400 Speaker 1: made a lot of loose plays and only had what 198 00:10:44,440 --> 00:10:46,679 Speaker 1: about eight yards Russian. I thought he did a good 199 00:10:46,720 --> 00:10:48,880 Speaker 1: job keeping his eyes down feel when he could get out. 200 00:10:48,880 --> 00:10:50,240 Speaker 1: You know, he made a couple of plays there at 201 00:10:50,280 --> 00:10:52,440 Speaker 1: the end, you know that we couldn't quite convert on 202 00:10:52,559 --> 00:10:55,800 Speaker 1: had some drop passes. Um you know the last play 203 00:10:55,880 --> 00:10:58,480 Speaker 1: that that Dick's picked off still fell down and it 204 00:10:58,559 --> 00:11:01,199 Speaker 1: was a timing throw that was interception that sealed the 205 00:11:01,200 --> 00:11:03,160 Speaker 1: win for the Cowboys. It was the only turnover of 206 00:11:03,160 --> 00:11:05,959 Speaker 1: the night, and on that place, Stirling Shepherd suffered what 207 00:11:06,120 --> 00:11:09,240 Speaker 1: looks like a serious knee injury for Props season, ending 208 00:11:09,240 --> 00:11:11,360 Speaker 1: the white Out the longest tenure Giant. He's made it 209 00:11:11,360 --> 00:11:14,160 Speaker 1: back from an achilles injury last year. The NFL announced 210 00:11:14,200 --> 00:11:16,480 Speaker 1: no more Pro Bowl. They'll play a flag football game, 211 00:11:16,520 --> 00:11:20,079 Speaker 1: have a skills competition instead in Toronto. The champagne that 212 00:11:20,160 --> 00:11:21,959 Speaker 1: was in the Yankee lockeron will have to wait to 213 00:11:22,040 --> 00:11:24,400 Speaker 1: be popped open. The Yanks did not clinch. The Al 214 00:11:24,440 --> 00:11:26,840 Speaker 1: East had a two nothing laid but lost in ten 215 00:11:26,920 --> 00:11:29,240 Speaker 1: and as three to two and ends the Yanks seven 216 00:11:29,280 --> 00:11:31,800 Speaker 1: game winnings dreak. It's the sixth raight game where Aaron 217 00:11:31,880 --> 00:11:35,640 Speaker 1: Judge has failed a homer. So his mother, Roger Maris Jr. 218 00:11:36,120 --> 00:11:38,480 Speaker 1: Back again tonight see if Judge hits home run number 219 00:11:38,480 --> 00:11:41,520 Speaker 1: sixty one to time Marris. Atlanta want eight nothing at Washington, 220 00:11:41,600 --> 00:11:43,480 Speaker 1: so with eight games ago, the Braids are one game 221 00:11:43,520 --> 00:11:46,240 Speaker 1: behind the Mets, who hosts Miami tonight. They go to 222 00:11:46,280 --> 00:11:48,439 Speaker 1: Atlanta this weekend and they'll obviously go a long way 223 00:11:48,440 --> 00:11:51,040 Speaker 1: towards the siding. Who wins the n Ell East John 224 00:11:51,040 --> 00:11:54,400 Speaker 1: stash Our Bloomberg Sports al right, John, Thanks. Futures are 225 00:11:54,440 --> 00:11:57,480 Speaker 1: moving higher. The British pound at one point zero seven 226 00:11:57,559 --> 00:12:00,600 Speaker 1: eight five against the dollar. We talk current season next 227 00:12:00,600 --> 00:12:07,320 Speaker 1: with Jane Folly of Robbo Bank. This is Bloomberg Bloomberg 228 00:12:07,320 --> 00:12:09,719 Speaker 1: eleven three or weather, sunshine and low seventies today, We'll 229 00:12:09,720 --> 00:12:11,480 Speaker 1: get down to the mid fifties tonight. It will be 230 00:12:11,480 --> 00:12:15,360 Speaker 1: sunny with a high near seventy. Tomorrow upper sixties, mostly 231 00:12:15,480 --> 00:12:18,680 Speaker 1: sunny on Thursday. Right now sixty one degrees in Central Park. 232 00:12:22,160 --> 00:12:25,520 Speaker 1: Markets headlines and breaking news twenty four hours a day 233 00:12:25,640 --> 00:12:28,640 Speaker 1: at Bloomberg dot Com, the Bloomberg Business apt and at 234 00:12:28,640 --> 00:12:38,360 Speaker 1: Bloomberg Quick Take. This is a Bloomberg Business Flash and 235 00:12:38,520 --> 00:12:41,360 Speaker 1: I'm Cameron Moscow and global markets do remain on edge 236 00:12:41,360 --> 00:12:44,120 Speaker 1: as investors brace for a heightened risk of global recession, 237 00:12:44,240 --> 00:12:48,640 Speaker 1: even as dip buyers are emerging. US DOCK index futures 238 00:12:48,880 --> 00:12:52,440 Speaker 1: their higher lead by Technology Nownsday futures. They're jumping up 239 00:12:52,440 --> 00:12:55,160 Speaker 1: a hundred twenty seven points, up one point one percent. 240 00:12:55,360 --> 00:12:59,040 Speaker 1: Right now, SMP futures of thirty one and down futures 241 00:12:59,080 --> 00:13:02,000 Speaker 1: of a hundred eighty nine. The decks in Germany is 242 00:13:02,080 --> 00:13:04,240 Speaker 1: up three tenths of upper cent. In your treasury of 243 00:13:04,280 --> 00:13:06,800 Speaker 1: twenty five thirty seconds, you have three point eight two percent, 244 00:13:07,160 --> 00:13:09,559 Speaker 1: and the yield on the two year four point two 245 00:13:09,679 --> 00:13:12,840 Speaker 1: four percent. Nime X screwed oil is up one point 246 00:13:12,840 --> 00:13:15,240 Speaker 1: four percent of a dollar nine at seventy seven dollars 247 00:13:15,240 --> 00:13:17,959 Speaker 1: eighty cents of barrel coma scold up half percent or 248 00:13:18,000 --> 00:13:22,400 Speaker 1: eight dollars thirty cents a sixte The euro point nine 249 00:13:22,480 --> 00:13:24,920 Speaker 1: six two zero against the dollar, British pound is at 250 00:13:24,960 --> 00:13:29,080 Speaker 1: one eight and the yen one point three four. And 251 00:13:29,160 --> 00:13:32,080 Speaker 1: look at a bitcoin, it's up five point eight percent 252 00:13:32,160 --> 00:13:35,600 Speaker 1: now at twenty thousand, two hundred dollars. That's a bloomberg 253 00:13:35,600 --> 00:13:38,000 Speaker 1: business flash. Now here's Michael Barrow with more on what's 254 00:13:38,040 --> 00:13:40,760 Speaker 1: going on around the world. Michael Karen, thank you very much. 255 00:13:40,840 --> 00:13:44,080 Speaker 1: Hurricane Ian makes landfall in Cuba en route to Florida's 256 00:13:44,120 --> 00:13:47,199 Speaker 1: West coast. Ian is a Category three storm and his 257 00:13:47,320 --> 00:13:50,760 Speaker 1: forecast to grow into a Category four with top wins 258 00:13:50,760 --> 00:13:54,400 Speaker 1: of one forty miles an hour. In Japan, world leaders 259 00:13:54,400 --> 00:13:57,640 Speaker 1: and members of the public paying tribute to former presidential 260 00:13:57,720 --> 00:14:01,960 Speaker 1: Zohabe assassinated in July, but thousands of protesting the large 261 00:14:01,960 --> 00:14:07,040 Speaker 1: scale state funeral, saying taxpayers dollars should be used instead 262 00:14:07,520 --> 00:14:11,400 Speaker 1: to address widening economic disparities. They say we're caused by 263 00:14:11,440 --> 00:14:15,040 Speaker 1: Abe's policies. In Monday Night Football, the Giants lost to 264 00:14:15,080 --> 00:14:18,719 Speaker 1: the Cowboys sixteen and baseball, the Yankees lost to the 265 00:14:18,720 --> 00:14:21,640 Speaker 1: Blue Jays and ten innings three to Aaron Judge still 266 00:14:21,680 --> 00:14:24,680 Speaker 1: stuck at sixty home runs as he chases Roger Maris 267 00:14:24,840 --> 00:14:28,000 Speaker 1: sixty one, a l record. The Orioles beat the Red 268 00:14:28,040 --> 00:14:31,720 Speaker 1: Sox fourteen eight, the Nationals lost. Global news twenty four 269 00:14:31,760 --> 00:14:35,240 Speaker 1: hours a day on air and on Bloomberg Quicktake, powered 270 00:14:35,240 --> 00:14:37,960 Speaker 1: by more than twenty seven under journalists and analysts and 271 00:14:38,040 --> 00:14:40,600 Speaker 1: more than a hundred twenty countries. I'm Michael Barr, and 272 00:14:40,720 --> 00:14:43,200 Speaker 1: this is Bloomberg NACOLN All right, Michael, thank you. We're 273 00:14:43,200 --> 00:14:46,120 Speaker 1: at six nineteen on Wall Street, live from the Bloomberg 274 00:14:46,160 --> 00:14:49,000 Speaker 1: Interactive Brokers Studios. This is Bloomberg a day break. We 275 00:14:49,080 --> 00:14:51,560 Speaker 1: want to take a focus now on the currency markets, 276 00:14:51,560 --> 00:14:54,480 Speaker 1: particularly after the wild moves we have seen in the 277 00:14:54,520 --> 00:14:57,240 Speaker 1: pound over the last couple of days. Joining us now 278 00:14:57,360 --> 00:14:59,760 Speaker 1: is Jane Foley, the head of f X strategy at 279 00:15:00,000 --> 00:15:02,440 Speaker 1: ball Bank. Jane, it's great to speak with you once 280 00:15:02,480 --> 00:15:04,440 Speaker 1: again as we watched the pound now headed for its 281 00:15:04,480 --> 00:15:08,360 Speaker 1: biggest rally in months, but that's coming off. It's all 282 00:15:08,520 --> 00:15:11,480 Speaker 1: time low now at a one oh eight handle. What 283 00:15:11,680 --> 00:15:14,560 Speaker 1: is the risk that you see for the pound falling 284 00:15:14,560 --> 00:15:17,640 Speaker 1: to parody against the dollars. I think it's far greater 285 00:15:17,680 --> 00:15:19,440 Speaker 1: than it was just a week ago, and that is 286 00:15:19,520 --> 00:15:22,680 Speaker 1: because of the budget and the course markets reaction to 287 00:15:22,720 --> 00:15:25,400 Speaker 1: the budget that we had in the UK on Friday. 288 00:15:25,440 --> 00:15:28,280 Speaker 1: We've got to remember, although sterling has bounced off, you know, 289 00:15:28,320 --> 00:15:32,520 Speaker 1: it's all time low, it's still considerably weaker than it 290 00:15:32,640 --> 00:15:34,600 Speaker 1: was just a few weeks ago. It was trading above 291 00:15:34,960 --> 00:15:37,800 Speaker 1: at one twenty not so long ago. And of course, 292 00:15:38,080 --> 00:15:41,960 Speaker 1: the factors that drove those gyrations over the last suit 293 00:15:42,040 --> 00:15:46,160 Speaker 1: few sessions essentially remain in place. That the government has 294 00:15:47,120 --> 00:15:50,960 Speaker 1: really damaged its credibility in terms of its fiscal policies, 295 00:15:51,320 --> 00:15:54,240 Speaker 1: and at the same time, what's been driving sterling lower 296 00:15:54,320 --> 00:15:57,880 Speaker 1: all year in terms of lack of growth or sessionary fears, 297 00:15:57,960 --> 00:16:01,600 Speaker 1: low productivity, lack of investment. They're all factors which remain 298 00:16:01,720 --> 00:16:05,560 Speaker 1: very much in place. Are you expecting more volatility than 299 00:16:05,560 --> 00:16:10,840 Speaker 1: when the Chancellor goes before financial leaders later today. I 300 00:16:10,880 --> 00:16:14,040 Speaker 1: think that's almost inevitable. I think we're going to have volatility, 301 00:16:14,520 --> 00:16:16,760 Speaker 1: you know, for some time. I mean, volatility and effects 302 00:16:16,840 --> 00:16:19,200 Speaker 1: has certainly been a theme this year, and I think 303 00:16:19,200 --> 00:16:22,840 Speaker 1: it can be associated very broadly with central banks, particularly 304 00:16:22,880 --> 00:16:25,200 Speaker 1: the FED, you know, lists in the comfort blanket of 305 00:16:25,200 --> 00:16:27,880 Speaker 1: of quantity of easy and tightening policy, and certainly in 306 00:16:27,920 --> 00:16:31,360 Speaker 1: the UK given the uncertainties that we have now in 307 00:16:31,440 --> 00:16:36,000 Speaker 1: terms of debt, fiscal position um and also to the 308 00:16:36,000 --> 00:16:38,520 Speaker 1: extent that the Bank of England maybe a hiking interest 309 00:16:38,600 --> 00:16:41,240 Speaker 1: rates coming on top of the cost of living crisis, 310 00:16:41,240 --> 00:16:42,800 Speaker 1: coming on top of the fact that we've got this 311 00:16:42,880 --> 00:16:46,320 Speaker 1: huge current account deficit too. They are all factors which 312 00:16:46,400 --> 00:16:51,320 Speaker 1: all pushed together and indicate that further volatilities is likely 313 00:16:51,360 --> 00:16:54,040 Speaker 1: to remain in place for some time now. We've heard 314 00:16:54,080 --> 00:16:56,000 Speaker 1: from the Bank of England, of course they're pledging to 315 00:16:56,440 --> 00:16:59,200 Speaker 1: change interest rates by as much as needed, kind of 316 00:16:59,240 --> 00:17:02,960 Speaker 1: signaling that they might not necessarily step in and change 317 00:17:03,000 --> 00:17:05,680 Speaker 1: interest rates before their next meeting. Do you think there 318 00:17:05,680 --> 00:17:09,480 Speaker 1: needs to be more intervention from the VOE. Well, there's 319 00:17:09,520 --> 00:17:11,800 Speaker 1: a difficulty here because you've got to remember that whilst 320 00:17:11,800 --> 00:17:13,840 Speaker 1: the Bank of England has been hike in interest rate, 321 00:17:13,880 --> 00:17:16,280 Speaker 1: it's really since the end of last year. For most 322 00:17:16,280 --> 00:17:19,520 Speaker 1: of that time it's had very limited effect in pushing 323 00:17:19,560 --> 00:17:22,160 Speaker 1: sterling high. And of course the strong dollar is part 324 00:17:22,160 --> 00:17:25,679 Speaker 1: of that story. But you know, investors perceptions of the 325 00:17:25,800 --> 00:17:29,920 Speaker 1: UK that the poor growth outlook, the high inflationary out 326 00:17:29,920 --> 00:17:32,000 Speaker 1: of the low the low productives to all of these 327 00:17:32,040 --> 00:17:36,800 Speaker 1: fundamentals have meant that sterling has not been very responsive 328 00:17:36,880 --> 00:17:39,440 Speaker 1: to interest rate hikes. Now, had the Bank of England 329 00:17:39,480 --> 00:17:42,160 Speaker 1: come out yesterday with an interest rate high because many 330 00:17:42,160 --> 00:17:45,040 Speaker 1: investors thought they may have done well, it would have 331 00:17:45,119 --> 00:17:49,320 Speaker 1: potentially risked its credibility because had that not worked and 332 00:17:49,440 --> 00:17:52,119 Speaker 1: stabilizing the pound and the Bank of England could have 333 00:17:52,119 --> 00:17:53,840 Speaker 1: found itself in an in a cat and nice game 334 00:17:53,920 --> 00:17:57,080 Speaker 1: really with the markets and that could have just impacted 335 00:17:57,080 --> 00:18:01,040 Speaker 1: its credibility. So it's it's it's staying relid of lee calm. 336 00:18:01,080 --> 00:18:04,080 Speaker 1: It's it's trying to wait until it's November the third 337 00:18:04,359 --> 00:18:07,560 Speaker 1: schedule policy meeting. But at that point I think we 338 00:18:07,600 --> 00:18:11,520 Speaker 1: can expect probably quite a hefty interest rate hike in 339 00:18:11,520 --> 00:18:13,879 Speaker 1: our last minute here Jane I'm curious to get your 340 00:18:13,960 --> 00:18:16,560 Speaker 1: view on the Euro now with the right wing government 341 00:18:16,600 --> 00:18:20,280 Speaker 1: set to take over in Italy. Well, indeed, of the 342 00:18:20,280 --> 00:18:22,679 Speaker 1: euro has certainly been under pressure too. I mean, Sterling 343 00:18:22,720 --> 00:18:25,840 Speaker 1: has certainly taken a lot of attention, but the Euro 344 00:18:26,040 --> 00:18:29,000 Speaker 1: is certainly very very soft now. The hawk is comments 345 00:18:29,040 --> 00:18:31,080 Speaker 1: chief in the the et be in recent weeks, I've 346 00:18:31,080 --> 00:18:35,480 Speaker 1: had some limited upside. Now the markets will be watching politics, 347 00:18:35,560 --> 00:18:38,200 Speaker 1: particularly in France going forward, because you've had La Pen 348 00:18:38,560 --> 00:18:43,119 Speaker 1: on the edges of government almost winning support really for 349 00:18:43,320 --> 00:18:45,840 Speaker 1: a number of years. But what we must remember though 350 00:18:45,920 --> 00:18:50,160 Speaker 1: is since Brexit, um, well, some of that anti EU 351 00:18:50,240 --> 00:18:53,040 Speaker 1: sentiment and the rest of your has dulled to some extent, 352 00:18:54,000 --> 00:18:56,760 Speaker 1: and we've got the euro well below parody against the 353 00:18:56,760 --> 00:18:58,840 Speaker 1: dollar at this point. Do you think it has further 354 00:18:58,880 --> 00:19:02,400 Speaker 1: to go? And if so much, well, our forecast has 355 00:19:02,480 --> 00:19:05,159 Speaker 1: been around ninety five, and so we do think it 356 00:19:05,200 --> 00:19:08,560 Speaker 1: could fall further. Gas supplies or gas storage is is 357 00:19:08,560 --> 00:19:10,280 Speaker 1: pretty good at the moment in Europe, but we still 358 00:19:10,280 --> 00:19:12,359 Speaker 1: got to face a winter. If the winter is cold, 359 00:19:12,440 --> 00:19:14,680 Speaker 1: if they do have rationing, we could have a recession. 360 00:19:15,040 --> 00:19:17,720 Speaker 1: You know, there were significant hurdles to face for Europe 361 00:19:17,720 --> 00:19:20,240 Speaker 1: and at the same time. Of course, dollar strength is 362 00:19:20,280 --> 00:19:22,760 Speaker 1: still there and we think dollar strength could sustained. We 363 00:19:22,920 --> 00:19:25,119 Speaker 1: got good a few months yet and we've got a 364 00:19:25,200 --> 00:19:28,000 Speaker 1: handle of ninety six for the euro against the dollar 365 00:19:28,119 --> 00:19:31,520 Speaker 1: nine six two five. Jane Folly as always great to 366 00:19:31,520 --> 00:19:34,440 Speaker 1: get your thoughts on the currency market. Jane Folly, head 367 00:19:34,440 --> 00:19:37,439 Speaker 1: of FX Strategy at Robbo Bank, and checking the British 368 00:19:37,480 --> 00:19:40,879 Speaker 1: pound once again after hitting that all time low overnight 369 00:19:41,040 --> 00:19:44,480 Speaker 1: on Monday morning, we are at one point zero eight 370 00:19:44,560 --> 00:19:47,879 Speaker 1: zero eight against the dollar. That is a gain of 371 00:19:48,119 --> 00:19:51,000 Speaker 1: one point one percent on the session. S and P 372 00:19:51,200 --> 00:19:54,200 Speaker 1: futures are up thirty five point. Staff futures are higher 373 00:19:54,240 --> 00:19:57,800 Speaker 1: by two hundred seventeen in NASDAC futures leading the gains 374 00:19:57,960 --> 00:20:01,800 Speaker 1: this morning up one d dy nine points. You're listening 375 00:20:01,800 --> 00:20:08,720 Speaker 1: to Bloomberg Daybreak Bloomberg eleven three oh weather, sunshine and 376 00:20:08,800 --> 00:20:11,320 Speaker 1: low seventies today down to the mid fifties tonight. It 377 00:20:11,359 --> 00:20:14,120 Speaker 1: will be sunny and a little cooler tomorrow, high near seventy, 378 00:20:14,440 --> 00:20:17,560 Speaker 1: upper sixties. That's all we'll get Thursday, right now, sixty 379 00:20:17,600 --> 00:20:27,720 Speaker 1: one in Central Park, broadcasting live from the Bloomberg Interacted 380 00:20:27,800 --> 00:20:31,960 Speaker 1: Broker Studio in New York Bloomberg eving to Washington, d C. 381 00:20:32,160 --> 00:20:36,840 Speaker 1: Bloomberg to Boston, Bloomberg one O six one to San Francisco, 382 00:20:36,920 --> 00:20:40,320 Speaker 1: Bloomberg nine sixty to the country Sirius XM Cho one 383 00:20:40,440 --> 00:20:43,360 Speaker 1: nine team and around the globe the Bloomberg Business app 384 00:20:43,480 --> 00:20:53,040 Speaker 1: in Bloomberg Radio dot com. This is Bloomberg Daybreak. It's 385 00:20:53,080 --> 00:20:55,359 Speaker 1: six thirty on Wall Street. Good morning. I'm Nathan Hager 386 00:20:55,680 --> 00:20:58,280 Speaker 1: and I'm Karen Moscow, and we're just about three hours 387 00:20:58,320 --> 00:21:00,520 Speaker 1: away from the open of US trading. Time for the 388 00:21:00,520 --> 00:21:02,840 Speaker 1: five things that you need to notice start your day. 389 00:21:03,160 --> 00:21:06,400 Speaker 1: And at first, global markets remain on edge as concerns 390 00:21:06,560 --> 00:21:10,199 Speaker 1: swirl about a global recession. Futures are higher following the 391 00:21:10,240 --> 00:21:12,960 Speaker 1: lowest clothes for the SNP five hundreds in December of 392 00:21:14,000 --> 00:21:17,040 Speaker 1: Bods remain under pressure from the worst sell off in decades, 393 00:21:17,320 --> 00:21:20,240 Speaker 1: but the ten year treasury yelled, hovering near the highest 394 00:21:20,280 --> 00:21:23,560 Speaker 1: level since and the Biggerish pound is stronger today care 395 00:21:23,560 --> 00:21:25,240 Speaker 1: and after it hit a record low on Monday, but 396 00:21:25,280 --> 00:21:27,600 Speaker 1: speculators are still betting that sterling will slide to a 397 00:21:27,680 --> 00:21:31,080 Speaker 1: level that was virtually unthinkable in recent decades. A dollar 398 00:21:31,280 --> 00:21:35,840 Speaker 1: or even less. Kid jukes is chief effects strategists associated general. 399 00:21:36,160 --> 00:21:38,040 Speaker 1: This is a loss of confidence at least to some 400 00:21:38,160 --> 00:21:41,800 Speaker 1: degree in policy because normally, I mean President Reagan and 401 00:21:41,800 --> 00:21:44,000 Speaker 1: Paul Volker managed to put rates up in enormous amounts 402 00:21:44,000 --> 00:21:46,240 Speaker 1: in Theese fiscal policy dramatically and sent the dollar to 403 00:21:46,280 --> 00:21:49,399 Speaker 1: the moon at one level, the UK Chancellor of the 404 00:21:49,400 --> 00:21:51,760 Speaker 1: Bank are England doing the same thing and sending it 405 00:21:52,320 --> 00:21:54,879 Speaker 1: to the floor. Those comments from kid Jukes come as 406 00:21:54,880 --> 00:21:57,560 Speaker 1: bets against the pound now show a forty three chance 407 00:21:57,560 --> 00:22:00,960 Speaker 1: of parody with the dollar before years and time. Nathan Goldman, 408 00:22:01,040 --> 00:22:04,560 Speaker 1: Sachs and black Rock are turning more bearish on US equities, 409 00:22:04,600 --> 00:22:06,719 Speaker 1: at least for the short term. Both war in that 410 00:22:06,840 --> 00:22:08,840 Speaker 1: markets have yet to price in the risk of a 411 00:22:08,840 --> 00:22:12,280 Speaker 1: global recession. Goldman is cutting equities to underwait over the 412 00:22:12,320 --> 00:22:15,439 Speaker 1: next three months. Black Rock is advising investors to shun 413 00:22:15,520 --> 00:22:18,080 Speaker 1: most stocks, and the turmoil in market shows little sign 414 00:22:18,119 --> 00:22:21,520 Speaker 1: of turning FED officials away from hawkish policy. Karen Boston 415 00:22:21,600 --> 00:22:24,800 Speaker 1: FED President Susan Collins and her Cleveland counterpart Loretta Master 416 00:22:25,040 --> 00:22:27,879 Speaker 1: say additional tightening is still needed. Here is the latest 417 00:22:27,960 --> 00:22:31,040 Speaker 1: view from Mester. So the FMC is committed to using 418 00:22:31,040 --> 00:22:33,360 Speaker 1: its tools to bring inflation back down to our long 419 00:22:33,480 --> 00:22:37,359 Speaker 1: run golf too percent. Last week, we took another decisive 420 00:22:37,400 --> 00:22:41,160 Speaker 1: action to remove monetary policy accommodation. We raised the FED 421 00:22:41,200 --> 00:22:44,240 Speaker 1: funds rate by seventy five basis points. Cleveland Fed President 422 00:22:44,320 --> 00:22:46,679 Speaker 1: Loretta Memester says she'd like to see inflation cool for 423 00:22:46,760 --> 00:22:50,320 Speaker 1: several months before concluding that it's peaked. And Nathan, there's 424 00:22:50,320 --> 00:22:52,959 Speaker 1: at least one major investor who thinks the worst global 425 00:22:52,960 --> 00:22:55,800 Speaker 1: bond route in decades maybe ending. And a tweeted double 426 00:22:55,840 --> 00:22:59,440 Speaker 1: line Capitals Jeffrey Gunlog said, quote, the US treasury bond 427 00:22:59,440 --> 00:23:03,000 Speaker 1: market is rallying, and he says he's been buying. And 428 00:23:03,000 --> 00:23:04,800 Speaker 1: as the five things that you need to know to 429 00:23:04,840 --> 00:23:07,560 Speaker 1: start your day, Futures are higher this morning, S and 430 00:23:07,600 --> 00:23:10,000 Speaker 1: P futures up forty three points to down futures up 431 00:23:10,000 --> 00:23:13,159 Speaker 1: two hundred seventy seven, and ASDAG future is jumping up 432 00:23:13,240 --> 00:23:16,520 Speaker 1: one sixty four. That's up one point four percent, The 433 00:23:16,520 --> 00:23:19,720 Speaker 1: ten year treasury down thirty seconds. You have three point 434 00:23:19,720 --> 00:23:21,600 Speaker 1: eight one percent and a yield on the two year 435 00:23:21,680 --> 00:23:24,920 Speaker 1: four point to four percent. Nine ex screwed oil is 436 00:23:25,000 --> 00:23:28,760 Speaker 1: up one point nine percent, and straight ahead, we have 437 00:23:28,800 --> 00:23:31,360 Speaker 1: a look at your latest local headlines. Plus a check 438 00:23:31,400 --> 00:23:38,680 Speaker 1: of sports, and this is Bloomberg. Thanks Scaring. At six 439 00:23:38,720 --> 00:23:40,760 Speaker 1: thirty three on Wall Street. We're at sixty degrees in 440 00:23:40,800 --> 00:23:43,119 Speaker 1: Central Park. We've got thirty minute delays getting through the 441 00:23:43,119 --> 00:23:46,560 Speaker 1: Lincoln Tunnel after earlier broken down tractor trailer. More coming 442 00:23:46,640 --> 00:23:49,399 Speaker 1: up in traffic first Michael Barr with what else is 443 00:23:49,440 --> 00:23:51,480 Speaker 1: going on once you get in New York and around 444 00:23:51,480 --> 00:23:54,119 Speaker 1: the world. Good morning, Michael, Good morning Nathan. Hurricaney And 445 00:23:54,160 --> 00:23:56,480 Speaker 1: has made landfall in Cuba as it roars on a 446 00:23:56,560 --> 00:23:59,560 Speaker 1: path that could see it hit Florida's west coast as 447 00:23:59,600 --> 00:24:04,920 Speaker 1: early as a category for hurricane by late Wednesday early Thursday. 448 00:24:05,040 --> 00:24:07,000 Speaker 1: It is threatening to become the worst storm to hit 449 00:24:07,040 --> 00:24:10,720 Speaker 1: Tampa and over a century, and Key West Mayor Terry 450 00:24:10,800 --> 00:24:14,360 Speaker 1: Johnston says FEMA has been deploying food, water, and generators 451 00:24:14,359 --> 00:24:17,840 Speaker 1: to the storm zone. We have started our preparations about 452 00:24:18,000 --> 00:24:21,240 Speaker 1: two days ago, and of course all of our residents 453 00:24:21,240 --> 00:24:24,520 Speaker 1: are buttoning up their homes and then including storm shutters 454 00:24:24,560 --> 00:24:27,159 Speaker 1: and taking anything that could be a flying projectile and 455 00:24:27,240 --> 00:24:30,399 Speaker 1: high winds out of their yard. Mayor Johnston says, for 456 00:24:30,480 --> 00:24:33,240 Speaker 1: now they have shut down City Hall. Ian is a 457 00:24:33,280 --> 00:24:36,360 Speaker 1: Cat three for now, we're learning that a small tornado 458 00:24:36,440 --> 00:24:39,960 Speaker 1: touchdown on Long Island last Sunday night. The National Weather 459 00:24:40,040 --> 00:24:42,359 Speaker 1: Service says an e F zero twister hit part of 460 00:24:42,359 --> 00:24:46,560 Speaker 1: Suffolkonti in the town of Mattatuck, no serious damage. Vice 461 00:24:46,560 --> 00:24:50,040 Speaker 1: President Kamala Harris continues their Asian trip today, meeting with 462 00:24:50,119 --> 00:24:53,440 Speaker 1: regional leaders in Tokyo, Japan and attending the state funeral 463 00:24:53,720 --> 00:24:57,920 Speaker 1: of assassinated Japanese Prime Minister Shinzo Abe. Harris spoke to 464 00:24:58,040 --> 00:25:02,199 Speaker 1: reporters after visiting the Buddhist temple where Abbe's private funeral 465 00:25:02,240 --> 00:25:06,880 Speaker 1: took place in July last night. In fact, we celebrated 466 00:25:07,240 --> 00:25:10,439 Speaker 1: his life with a dinner that was hosted by the 467 00:25:10,480 --> 00:25:14,440 Speaker 1: current Prime Minister of Japan, where there were wonderful stories 468 00:25:14,480 --> 00:25:17,399 Speaker 1: being told by people who spend time with him about 469 00:25:17,440 --> 00:25:20,280 Speaker 1: his life and his legacy. However, more than half of 470 00:25:20,280 --> 00:25:23,679 Speaker 1: the Japanese public opposed a state funeral over the cost 471 00:25:24,119 --> 00:25:27,439 Speaker 1: and the close ties that have emerged between Abbe and 472 00:25:27,560 --> 00:25:31,000 Speaker 1: more than half of the ruling Liberal Democratic Party and 473 00:25:31,040 --> 00:25:36,280 Speaker 1: the Unification Church. NASA intentionally crashed a spacecraft into an 474 00:25:36,320 --> 00:25:40,399 Speaker 1: asteroid in hopes of altering its orbit. The dark spacecraft 475 00:25:40,440 --> 00:25:45,040 Speaker 1: slammed into diamorphous last night and asteroid roughly the size 476 00:25:45,080 --> 00:25:49,639 Speaker 1: of the Statue of Liberty Planet Scientists Emily like Dawalla says, 477 00:25:49,720 --> 00:25:53,560 Speaker 1: this is the very first experimental step and understanding what 478 00:25:53,680 --> 00:25:55,520 Speaker 1: humans would need to do to divert the path of 479 00:25:55,640 --> 00:25:59,879 Speaker 1: something headed towards Earth. There is definitely a large asteroid 480 00:26:00,040 --> 00:26:03,280 Speaker 1: will hit Earth someday. Now, whether that someday is in 481 00:26:03,840 --> 00:26:06,480 Speaker 1: ten years, a hundred years, a thousand years, we haven't 482 00:26:06,520 --> 00:26:09,840 Speaker 1: discovered yet an asteroid that is on a path that 483 00:26:09,920 --> 00:26:12,800 Speaker 1: will definitely hit Earth. NASA says it will take a 484 00:26:12,800 --> 00:26:15,719 Speaker 1: couple of months to determine exactly how much the asteroids 485 00:26:15,760 --> 00:26:18,480 Speaker 1: path was changed. Global News twenty four hours a day 486 00:26:18,480 --> 00:26:20,399 Speaker 1: on air and on Bloomberg Quick Take power by more 487 00:26:20,440 --> 00:26:23,080 Speaker 1: than twenty seven hundred journalist analysts more than a hundred 488 00:26:23,160 --> 00:26:26,359 Speaker 1: twenty countries. Michael bar this is Bloomberg, Nathan, thank you, 489 00:26:26,480 --> 00:26:34,199 Speaker 1: Michael sixty six on Wall Street. John stash Hour has 490 00:26:34,240 --> 00:26:36,720 Speaker 1: the Bloomberg Sports I take Nathan Monday Night football and 491 00:26:36,760 --> 00:26:39,240 Speaker 1: a white out at Midlife Statum to see the Giants 492 00:26:39,280 --> 00:26:40,800 Speaker 1: try to get to three and oh they had a 493 00:26:40,840 --> 00:26:43,840 Speaker 1: third quarter lead after sake one Bartlet six yard touchdown 494 00:26:43,880 --> 00:26:46,879 Speaker 1: one but Dallas came back. Cooper rushed TV pass to 495 00:26:47,000 --> 00:26:49,399 Speaker 1: Seedee Lamb with eight and that minutes left gave the 496 00:26:49,440 --> 00:26:52,160 Speaker 1: Cowboys the league. They won twenty three to sixteen. Lamb 497 00:26:52,240 --> 00:26:53,960 Speaker 1: dropped a pass that would have been a lump touched 498 00:26:53,960 --> 00:26:56,000 Speaker 1: down in the first half, made up for it with 499 00:26:56,040 --> 00:26:58,280 Speaker 1: the game winner that he cut one handed in. Dallas 500 00:26:58,359 --> 00:27:00,399 Speaker 1: is now one ten of the last eleven. His Big 501 00:27:00,440 --> 00:27:03,240 Speaker 1: Blue Giants are two and one. They placed Chicago Sunday. 502 00:27:03,240 --> 00:27:05,879 Speaker 1: The offensive line needs to do a better job in 503 00:27:06,000 --> 00:27:09,440 Speaker 1: pass protection. Daniel Jones last night sat five times. They're 504 00:27:09,480 --> 00:27:13,359 Speaker 1: good front, they're good defense. You gotta give credit to them. Um, 505 00:27:13,440 --> 00:27:17,199 Speaker 1: they played hard, but yeah, I think there's things we 506 00:27:17,200 --> 00:27:19,359 Speaker 1: can all do better with with that. And uh that 507 00:27:19,560 --> 00:27:22,359 Speaker 1: starts with me and you know, finding space to step up, 508 00:27:22,400 --> 00:27:24,960 Speaker 1: finding space to move around the pocket and and uh 509 00:27:25,240 --> 00:27:27,720 Speaker 1: make some plays off moment later in the game. Sterling Shepard, 510 00:27:27,720 --> 00:27:29,880 Speaker 1: the longest tenure Giant who made it back from last 511 00:27:29,960 --> 00:27:32,760 Speaker 1: year's achilles injury, suffering but appears to be a serious 512 00:27:32,760 --> 00:27:35,440 Speaker 1: like the season and the knee injury. Patriots KB mac 513 00:27:35,520 --> 00:27:37,680 Speaker 1: Jones has what's been called a severe high ankles brain. 514 00:27:37,760 --> 00:27:40,800 Speaker 1: He'll miss multiple games. Big game Sunday, Kansas City at 515 00:27:40,800 --> 00:27:43,360 Speaker 1: Tampa Bay. Not known where that game will be played 516 00:27:43,840 --> 00:27:46,680 Speaker 1: due to the impending hurricane in Tampa. In Toronto, Blue 517 00:27:46,760 --> 00:27:49,879 Speaker 1: Jays came back beat the Yankees three two intendings to 518 00:27:50,040 --> 00:27:52,120 Speaker 1: prevent the Yanks from clinching the a L East. Another 519 00:27:52,200 --> 00:27:55,040 Speaker 1: chance tonight, Other chance for Aaron Judge to hit home 520 00:27:55,119 --> 00:27:57,080 Speaker 1: run number sixty one. Did have a hit two walks 521 00:27:57,160 --> 00:27:59,920 Speaker 1: last night and have six straight games without a homer. Matt, 522 00:28:00,040 --> 00:28:02,680 Speaker 1: So it's Miami tonight. There lead over at Lanta, downto 523 00:28:02,760 --> 00:28:05,680 Speaker 1: one game with eight games to go. John Stash the 524 00:28:05,680 --> 00:28:09,080 Speaker 1: Bloomberg Sports dud Okay John Thanks six thirty seven on 525 00:28:09,119 --> 00:28:10,880 Speaker 1: Wall Street time out to take a look at stunk 526 00:28:11,000 --> 00:28:12,919 Speaker 1: some of the names moving in the pre market with 527 00:28:12,960 --> 00:28:16,480 Speaker 1: Bloomberg Radio and TV Markets correspondent Create Good. Can we 528 00:28:16,520 --> 00:28:18,760 Speaker 1: call this a relief rally? Creating? What are you watching? 529 00:28:18,880 --> 00:28:20,720 Speaker 1: I suppose we can. It's a little bit of a 530 00:28:20,880 --> 00:28:23,560 Speaker 1: and this is the analogy I like to use across programming, 531 00:28:23,560 --> 00:28:25,040 Speaker 1: a little bit of a spring. When you have this 532 00:28:25,119 --> 00:28:28,679 Speaker 1: much selling pressure, about five days of losses, it's only 533 00:28:28,800 --> 00:28:30,920 Speaker 1: natural to see this much of a rally in the morning. 534 00:28:31,000 --> 00:28:33,200 Speaker 1: So to see futures rallying to the tunem I won't 535 00:28:33,200 --> 00:28:36,000 Speaker 1: see just shy About one percent is is actually pretty normal. 536 00:28:36,040 --> 00:28:38,480 Speaker 1: The question is does it stick? Um? I will tell 537 00:28:38,520 --> 00:28:40,680 Speaker 1: you what rally is sticking though, Nathan, and it's right 538 00:28:40,720 --> 00:28:44,800 Speaker 1: here in the US. Listen Macau, casino stocks, Chinese travel 539 00:28:44,840 --> 00:28:46,760 Speaker 1: stocks as well. They are on track to rise for 540 00:28:46,840 --> 00:28:49,400 Speaker 1: a second day. We already saw ten to twelve percent 541 00:28:49,600 --> 00:28:52,520 Speaker 1: moves yesterday and some of these stocks now it looks 542 00:28:52,560 --> 00:28:55,360 Speaker 1: like they are getting even more of an investor bid 543 00:28:55,400 --> 00:28:57,440 Speaker 1: this morning. So take a look at Wind Resource w 544 00:28:57,760 --> 00:29:01,000 Speaker 1: y n N is your taker up one point eight percent, 545 00:29:01,440 --> 00:29:03,920 Speaker 1: Melco is another one. M l c O is your 546 00:29:03,960 --> 00:29:06,800 Speaker 1: taker up about three percent in the pre market. Um, 547 00:29:06,880 --> 00:29:09,040 Speaker 1: And it's not just them, you are also seeing the 548 00:29:09,080 --> 00:29:11,760 Speaker 1: likes of GRAB. For example, g R A B is 549 00:29:11,800 --> 00:29:15,920 Speaker 1: your taker. This is a Southeast Asian internet giant. Uh 550 00:29:15,960 --> 00:29:17,960 Speaker 1: they are rallying about one point one percent. So you 551 00:29:18,040 --> 00:29:20,280 Speaker 1: see the A d R s here. Um, well at 552 00:29:20,280 --> 00:29:22,480 Speaker 1: one point eight percent. I should say now this coming 553 00:29:22,520 --> 00:29:26,760 Speaker 1: after he talked about profitability in remember a lot of 554 00:29:26,760 --> 00:29:30,760 Speaker 1: these newer internet companies think uh, Door, Dash, think Uber. 555 00:29:30,800 --> 00:29:32,920 Speaker 1: They took a couple of years to actually hit profitability 556 00:29:32,960 --> 00:29:36,240 Speaker 1: to become cash flow positive. Grab going through the same 557 00:29:36,400 --> 00:29:40,239 Speaker 1: journey now expecting revenue to slow a bit significantly just 558 00:29:40,280 --> 00:29:42,760 Speaker 1: because of the macro headwinds. No surprise there. But they're 559 00:29:42,760 --> 00:29:46,480 Speaker 1: saying that recovery that comes after that will happen pretty quickly, 560 00:29:46,560 --> 00:29:50,440 Speaker 1: and that will happen in interesting We're also seeing some 561 00:29:50,520 --> 00:29:56,480 Speaker 1: profitability warnings though from a consumer Staples giant. Oh absolutely. 562 00:29:56,560 --> 00:29:59,920 Speaker 1: I'm a massive Dr Pepper fan, um, but you know, 563 00:30:00,000 --> 00:30:01,560 Speaker 1: and I moved to New York. Everyone was like Dr 564 00:30:01,600 --> 00:30:04,720 Speaker 1: Pepper really you like the fake cherry taste. And I 565 00:30:04,760 --> 00:30:07,600 Speaker 1: was like, yes, give it to me. There's Dr Pepper 566 00:30:07,680 --> 00:30:10,520 Speaker 1: hate out there, is there really is. But I think 567 00:30:10,520 --> 00:30:12,240 Speaker 1: some of that hate might be reflecting in the stock 568 00:30:12,320 --> 00:30:15,920 Speaker 1: this morning down one point six per cent KDPS, your 569 00:30:15,920 --> 00:30:19,160 Speaker 1: ticker Goldman Sacks downgrading the stock to neutral because they 570 00:30:19,160 --> 00:30:20,880 Speaker 1: hate the training and I'm kidding they down to them. 571 00:30:21,280 --> 00:30:24,040 Speaker 1: They they're as talking. They're saying, that's executing pretty well 572 00:30:24,040 --> 00:30:25,760 Speaker 1: in the tough environment. This is something you're seeing with 573 00:30:25,800 --> 00:30:28,640 Speaker 1: It's Piers PepsiCo with Coca Cola as well. But they're 574 00:30:28,640 --> 00:30:31,120 Speaker 1: saying that the risk reward seems more balanced from here. 575 00:30:31,120 --> 00:30:32,479 Speaker 1: It means that you're not going to get as much 576 00:30:32,480 --> 00:30:35,040 Speaker 1: of a payoff with this particular stock than you did 577 00:30:35,080 --> 00:30:37,800 Speaker 1: perhaps before relative to its piers. So down one point 578 00:30:37,840 --> 00:30:40,960 Speaker 1: six percent. KDP is your ticker, and of course I'll 579 00:30:41,040 --> 00:30:44,240 Speaker 1: leave you with one last one micro Strategy MSTR. Following 580 00:30:44,280 --> 00:30:47,440 Speaker 1: the bitcoin boom, now back over twenty MSTR shares up 581 00:30:47,440 --> 00:30:49,760 Speaker 1: about five percent. Nathan, Yeah, I seen a six percent 582 00:30:49,760 --> 00:30:52,480 Speaker 1: and bounce in bitcoin there. Thanks creedy. As always Bloomberg 583 00:30:52,560 --> 00:30:55,840 Speaker 1: Radio on TV Markets correspondent created Gupta with an eye 584 00:30:55,920 --> 00:30:59,440 Speaker 1: on the early market trade and checking stocks as a 585 00:30:59,480 --> 00:31:02,920 Speaker 1: whole before we ring the opening bell. On this Tuesday morning, 586 00:31:03,000 --> 00:31:05,520 Speaker 1: SMP futures are moving up by forty points again to 587 00:31:05,600 --> 00:31:09,400 Speaker 1: one point one percent. Futures of two one NASTACK futures 588 00:31:09,400 --> 00:31:12,320 Speaker 1: are higher by one hundred fifty two points. The tenure 589 00:31:12,360 --> 00:31:15,520 Speaker 1: treasury yield right now three point eight to a drop 590 00:31:15,560 --> 00:31:22,480 Speaker 1: of ten basis points. This is Bloomberg Bloomberg eleven three 591 00:31:22,480 --> 00:31:25,840 Speaker 1: oh weather. Sunshine in low seventies today, mid fifties tonight 592 00:31:25,920 --> 00:31:29,200 Speaker 1: under a clear sky, sunny, little cooler tomorrow, higher seventy 593 00:31:29,240 --> 00:31:33,080 Speaker 1: degrees only upper sixties for Thursday. Right now sixty degrees 594 00:31:33,120 --> 00:31:40,160 Speaker 1: in Central Park Markets headlines and breaking news twenty four 595 00:31:40,200 --> 00:31:43,440 Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business App, 596 00:31:43,560 --> 00:31:53,840 Speaker 1: and at Bloomberg Quicktake. He's a Bloomberg Business flash and 597 00:31:53,920 --> 00:31:56,720 Speaker 1: the fare in Moscow. Futures are higher. This morning, we 598 00:31:56,800 --> 00:31:59,280 Speaker 1: get the first word breaking news desk for today's morning call, 599 00:31:59,360 --> 00:32:02,880 Speaker 1: and here's Bill Aloney. Bill, good morning, and good morning, Karen. 600 00:32:02,880 --> 00:32:04,680 Speaker 1: That's right you as futures are in the green right 601 00:32:04,720 --> 00:32:06,680 Speaker 1: now at DEAF Futures up two hundred and seventy points, 602 00:32:06,720 --> 00:32:09,920 Speaker 1: SIPs game forty two, Well Mas deck futures rise by one, 603 00:32:11,080 --> 00:32:13,800 Speaker 1: the US ten year old at three point eight to percent, 604 00:32:13,840 --> 00:32:15,800 Speaker 1: gold is up fifteen oil is in the green, and 605 00:32:15,880 --> 00:32:19,720 Speaker 1: bitcoin trading higher by six percent. Japan rose half a 606 00:32:19,720 --> 00:32:23,400 Speaker 1: percent overnight, while over in Europe, European markets are posting 607 00:32:23,440 --> 00:32:25,880 Speaker 1: modest games right now and back in the US. On 608 00:32:25,920 --> 00:32:28,479 Speaker 1: the economic front of the thirty durable goods orders at 609 00:32:28,560 --> 00:32:30,720 Speaker 1: nine o'clock, the house price in next, and at ten o'clock, 610 00:32:30,720 --> 00:32:34,120 Speaker 1: consumer confidence and new home sales. In other news that 611 00:32:34,160 --> 00:32:37,680 Speaker 1: Jeff Gunlock says he's buying treasuries, and Crispin O'Day says 612 00:32:37,680 --> 00:32:40,520 Speaker 1: the worst is not yet over for the British Pound 613 00:32:40,840 --> 00:32:43,200 Speaker 1: wrapping things up carried Dr Pepper was cut to neutral 614 00:32:43,480 --> 00:32:46,400 Speaker 1: over at Goldman Sachs Live from the first Big News 615 00:32:46,440 --> 00:32:48,800 Speaker 1: Task on Bill Maloney. Karen alright, Bail, thank you to 616 00:32:48,840 --> 00:32:51,240 Speaker 1: hear live breaking news of your Bloomberry type squawk on 617 00:32:51,280 --> 00:32:53,720 Speaker 1: your terminal SCU. You a w K and that's a 618 00:32:53,720 --> 00:32:56,680 Speaker 1: Bloomberg business flash. Now here's Michael Barr with Moore on 619 00:32:56,840 --> 00:33:00,640 Speaker 1: what's going on around the world. Michael Karen Orda is 620 00:33:00,680 --> 00:33:05,000 Speaker 1: bracing for Hurricane Ian, now a category three storm. Forecasters 621 00:33:05,040 --> 00:33:08,560 Speaker 1: expect Ian to make landfall on Florida's Gulf Coast, possibly 622 00:33:08,840 --> 00:33:12,720 Speaker 1: as a cat for hurricane, late tomorrow or early Thursday, 623 00:33:13,040 --> 00:33:15,520 Speaker 1: dumping up to sixteen inches of rain and bringing a 624 00:33:15,600 --> 00:33:19,400 Speaker 1: storm surge of up to ten feet to the Tampa area. 625 00:33:19,880 --> 00:33:23,080 Speaker 1: Senate Democrats released a short term government funding bill late 626 00:33:23,160 --> 00:33:26,080 Speaker 1: last night that included a measure to speed up energy 627 00:33:26,200 --> 00:33:30,360 Speaker 1: project permit. It is opposed by most Republicans and some Democrats. 628 00:33:30,640 --> 00:33:34,480 Speaker 1: Monday night football, the Giants lost to the Cowboys three sixteen. 629 00:33:34,880 --> 00:33:37,200 Speaker 1: In baseball, the Yankees lost to the Blue Jays and 630 00:33:37,280 --> 00:33:40,959 Speaker 1: ten innings three to Aaron Judge, still stuck at sixty 631 00:33:40,960 --> 00:33:44,000 Speaker 1: home runs. As he chases Roger Maris sixty one, a 632 00:33:44,240 --> 00:33:47,320 Speaker 1: l record, The Orioles beat the Red Sox fourteen eight, 633 00:33:47,400 --> 00:33:50,480 Speaker 1: The Nationals Lost Global News twenty four hours a day 634 00:33:50,560 --> 00:33:53,600 Speaker 1: on air and on Bloomberg Quicktake, powered by more than 635 00:33:54,320 --> 00:33:57,440 Speaker 1: hundred journalists analysts in more than a hundred twenty countries. 636 00:33:57,440 --> 00:34:00,280 Speaker 1: I'm Michael Barr, and this is Bloomberg. Karen, all right, 637 00:34:00,280 --> 00:34:03,200 Speaker 1: michelbar thank you sixty nine on Wall Street. Let's turn 638 00:34:03,240 --> 00:34:06,280 Speaker 1: to news and science and technology now, but the Bloomberg 639 00:34:06,400 --> 00:34:08,560 Speaker 1: n j I T STEMM repoort brought to you by 640 00:34:08,600 --> 00:34:11,840 Speaker 1: New Jersey Institute of Technology, ranked one of the nation's 641 00:34:11,920 --> 00:34:16,680 Speaker 1: most research intensive universities by the Carnegie classification. Learn more 642 00:34:17,000 --> 00:34:19,120 Speaker 1: at n j I T DOT E d U slash 643 00:34:19,400 --> 00:34:23,279 Speaker 1: R one and now here's let's making news and science, technology, engineering, 644 00:34:23,320 --> 00:34:27,480 Speaker 1: and math. A large new studies shows gene abnormalities may 645 00:34:27,520 --> 00:34:31,200 Speaker 1: make some people more susceptible to myocarditis, a rare type 646 00:34:31,200 --> 00:34:34,280 Speaker 1: of heart inflammation that can affect young people and athletes. 647 00:34:34,680 --> 00:34:38,200 Speaker 1: The findings, published in the American Heart Association journal Circulation, 648 00:34:38,520 --> 00:34:42,440 Speaker 1: could partially answer why otherwise healthy young people sometimes develop 649 00:34:42,480 --> 00:34:45,520 Speaker 1: a condition that can lead to heart failure and sudden 650 00:34:45,600 --> 00:34:49,439 Speaker 1: cardiac death. And now so spacecraft has successfully crashed into 651 00:34:49,440 --> 00:34:52,280 Speaker 1: an asteroid about six point eight million miles from Earth. 652 00:34:52,600 --> 00:34:54,600 Speaker 1: It was a test to determine if the impact can 653 00:34:54,680 --> 00:34:58,000 Speaker 1: nudge this space rock slightly off course. The US Space 654 00:34:58,040 --> 00:35:00,319 Speaker 1: Agency is in the early stages of a plan to 655 00:35:00,320 --> 00:35:03,880 Speaker 1: protect the Earth from asteroids. If measurements show the asteroids 656 00:35:03,920 --> 00:35:07,600 Speaker 1: course was even slightly altered, NASA will consider the mission 657 00:35:07,640 --> 00:35:11,719 Speaker 1: a success. And negotiations between the Biden administration and TikTok 658 00:35:11,840 --> 00:35:14,160 Speaker 1: over an agreement that would let the app keep operating 659 00:35:14,160 --> 00:35:16,920 Speaker 1: in the US are said to have installed. Sources say 660 00:35:17,000 --> 00:35:20,799 Speaker 1: the sticking point is concerned that Chinese ownership poses a 661 00:35:20,920 --> 00:35:24,120 Speaker 1: national security threat. We're told in agreement would allow the 662 00:35:24,160 --> 00:35:27,840 Speaker 1: platform to continue operating in the US with additional restrictions 663 00:35:27,840 --> 00:35:30,879 Speaker 1: on how data from American users is stored. And that's 664 00:35:30,880 --> 00:35:34,360 Speaker 1: a Bloomberg and j I t Stem report. Nathan, all right, Karen, 665 00:35:34,400 --> 00:35:37,719 Speaker 1: thanks rely from the Bloomberg Interactive Brokers studios, where it's 666 00:35:37,760 --> 00:35:40,480 Speaker 1: almost six fifty one on Wall Street time not to 667 00:35:40,560 --> 00:35:42,520 Speaker 1: check what's going on in d C, where some of 668 00:35:42,560 --> 00:35:45,400 Speaker 1: the top stories include Senate Democrats releasing their bill to 669 00:35:45,440 --> 00:35:49,440 Speaker 1: prevent a government shutdown, Vice President Harris to visit Korea's 670 00:35:49,640 --> 00:35:54,160 Speaker 1: demilitarized zone, and President Biden urging oil companies to bring 671 00:35:54,360 --> 00:35:57,319 Speaker 1: prices down at a White House competition meeting. For more, 672 00:35:57,320 --> 00:36:00,600 Speaker 1: We're joined by Bloomberg Washington correspondent Joe Matthew, host of 673 00:36:00,680 --> 00:36:03,799 Speaker 1: Sound on Here on Bloomberg Radio. So, Joe, I know 674 00:36:03,880 --> 00:36:07,440 Speaker 1: you've had plenty of time to digest the continuing resolution 675 00:36:07,480 --> 00:36:10,239 Speaker 1: that was just released five Senate Democrats last night, and 676 00:36:10,280 --> 00:36:14,080 Speaker 1: you can very cogently just spell it out for us. 677 00:36:14,200 --> 00:36:17,239 Speaker 1: What does that entail? Joe. It's it's amazing, Nathan that 678 00:36:17,320 --> 00:36:19,960 Speaker 1: this is four days we're getting this, four days before 679 00:36:20,000 --> 00:36:23,560 Speaker 1: the government potentially runs out of money. Interesting to see 680 00:36:23,560 --> 00:36:25,239 Speaker 1: what's in it and what is not in it. This 681 00:36:25,280 --> 00:36:29,200 Speaker 1: bill does have money for Ukraine, more than twelve billion dollars, 682 00:36:29,239 --> 00:36:31,879 Speaker 1: a little bit more than the Biden administration actually asked for, 683 00:36:32,120 --> 00:36:35,240 Speaker 1: and would also authorize more money should it be needed. 684 00:36:35,480 --> 00:36:39,520 Speaker 1: There's two billion for unmet needs from recent disasters, and 685 00:36:39,600 --> 00:36:43,080 Speaker 1: that's important, of course, as we also uh wait for 686 00:36:43,120 --> 00:36:45,480 Speaker 1: another hurricane to hit here in a billion dollars for 687 00:36:45,560 --> 00:36:49,399 Speaker 1: home heating assistance. You know what's not in this bill, though, 688 00:36:49,480 --> 00:36:53,920 Speaker 1: Nathan is twenty two billion dollars for COVID relief funding, 689 00:36:54,360 --> 00:36:56,480 Speaker 1: and Republicans say, you know what the President said on 690 00:36:56,480 --> 00:36:58,520 Speaker 1: a microphone in front of a camera last week on 691 00:36:58,560 --> 00:37:01,479 Speaker 1: sixty minutes, that the pandemic is over. So we're going 692 00:37:01,520 --> 00:37:03,640 Speaker 1: with that. But there is and when we talk to 693 00:37:03,680 --> 00:37:07,760 Speaker 1: medical experts, a great expectation for a potential surge again 694 00:37:07,760 --> 00:37:10,879 Speaker 1: in the winter, potentially a new strain, and they're gonna 695 00:37:10,880 --> 00:37:13,399 Speaker 1: be questions about why testing is not available, why we're 696 00:37:13,400 --> 00:37:16,160 Speaker 1: paying for vaccines, and so forth. In the Biden administration 697 00:37:16,440 --> 00:37:18,400 Speaker 1: will likely take the blame for it, even though they 698 00:37:18,440 --> 00:37:21,200 Speaker 1: ask for the money. So that's there. Also, the permitting 699 00:37:21,200 --> 00:37:23,640 Speaker 1: bill that's been getting so much attention. This is Joe 700 00:37:23,719 --> 00:37:27,680 Speaker 1: Manchin's Energy permitting reform bill. Uh. It's not likely going 701 00:37:27,719 --> 00:37:30,120 Speaker 1: to make the grade the Senate. Tonight Nathan holds a 702 00:37:30,160 --> 00:37:33,239 Speaker 1: procedural vote. They'll hold a cloture vote late this afternoon, 703 00:37:33,800 --> 00:37:37,040 Speaker 1: and it is not expected to pass. The question is 704 00:37:37,080 --> 00:37:39,120 Speaker 1: what happens after that. Will this go as a clean 705 00:37:39,160 --> 00:37:41,560 Speaker 1: bill to the House or we're gonna be wrangling over 706 00:37:41,600 --> 00:37:43,359 Speaker 1: this a little longer than we thought. That's why when 707 00:37:43,360 --> 00:37:45,560 Speaker 1: you get this close to the edge here there are 708 00:37:46,280 --> 00:37:48,759 Speaker 1: chances that things can go wrong, and if there's a 709 00:37:49,040 --> 00:37:51,719 Speaker 1: day or two of a government shutdown, hopefully it'll just 710 00:37:51,760 --> 00:37:54,640 Speaker 1: be over the weekend. Yeah, it's interesting because, of course, 711 00:37:54,640 --> 00:37:56,800 Speaker 1: as you know, Joe Manson went on the Sunday shows 712 00:37:56,840 --> 00:38:00,960 Speaker 1: Fox News Sunday appealing to Republicans to weren't that measure 713 00:38:01,040 --> 00:38:04,319 Speaker 1: what's the Republican opposition to this? Well, it's fascinating. I 714 00:38:04,320 --> 00:38:07,880 Speaker 1: had a conversation last evening on Sound On with Chuck Fleishman, 715 00:38:07,920 --> 00:38:11,360 Speaker 1: Republican congressman from Tennessee, and he made it clear that 716 00:38:11,440 --> 00:38:16,160 Speaker 1: Republicans actually support this reform in principle, but they've been burned. 717 00:38:16,200 --> 00:38:18,960 Speaker 1: They think by Joe Manchin enough times that because his 718 00:38:19,080 --> 00:38:23,360 Speaker 1: name is on this, they're not going to vote for him. Now, granted, 719 00:38:23,719 --> 00:38:25,880 Speaker 1: they think this is a bit less broad than they 720 00:38:25,880 --> 00:38:29,319 Speaker 1: were hoping for. Republicans want to see uh permitting speed 721 00:38:29,400 --> 00:38:32,400 Speaker 1: up even faster than this bill would allow. But I 722 00:38:32,440 --> 00:38:35,040 Speaker 1: asked him directly if somebody else's name was on this, 723 00:38:35,600 --> 00:38:37,839 Speaker 1: if the same bill came up with a different name 724 00:38:37,920 --> 00:38:41,320 Speaker 1: post mid terms, he said, yes, Republicans would vote for it. Wow, 725 00:38:41,680 --> 00:38:45,400 Speaker 1: is this something this kind of dispute that could UH 726 00:38:45,920 --> 00:38:50,600 Speaker 1: prevent the bill from passing and bring us the potentiality 727 00:38:50,640 --> 00:38:52,239 Speaker 1: for a government shutdown at the end of the way. 728 00:38:52,360 --> 00:38:54,920 Speaker 1: It's a fair question to ask, because again, things go 729 00:38:55,000 --> 00:38:56,840 Speaker 1: wrong when he gets too close to the edge, or 730 00:38:56,840 --> 00:38:59,040 Speaker 1: at least they can. But no one and I it's 731 00:38:59,120 --> 00:39:02,920 Speaker 1: it's important to tell our listeners this. No one of 732 00:39:02,920 --> 00:39:06,520 Speaker 1: of any credibility is predicting a government shutdown right now 733 00:39:06,560 --> 00:39:08,920 Speaker 1: in Washington. But we are playing games right up to 734 00:39:08,960 --> 00:39:11,319 Speaker 1: the last minute. There's even talk that lawmakers may have 735 00:39:11,400 --> 00:39:12,960 Speaker 1: to stay in town for the weekend to get this 736 00:39:13,040 --> 00:39:17,360 Speaker 1: worked out. They'll likely be a bridge component in this legislation, Nathan, 737 00:39:17,480 --> 00:39:19,200 Speaker 1: so they can buy a couple of days if it's 738 00:39:19,239 --> 00:39:22,440 Speaker 1: not done exactly by midnight on Friday, and that's what 739 00:39:22,480 --> 00:39:24,239 Speaker 1: would require them to work the weekend. We're gonna have 740 00:39:24,280 --> 00:39:25,719 Speaker 1: to give us a gup more days to figure out 741 00:39:26,000 --> 00:39:28,480 Speaker 1: stop gamp on top of a stop gather that before 742 00:39:28,560 --> 00:39:30,319 Speaker 1: in Washington. Let's move on to some of the other 743 00:39:30,360 --> 00:39:32,960 Speaker 1: stories going on. We're following Vice President Harris on her 744 00:39:33,000 --> 00:39:36,400 Speaker 1: overseas trips. She's in Japan for former Prime Minister Shinzolabe 745 00:39:36,520 --> 00:39:39,560 Speaker 1: state funeral, but she's also added a very interesting stop 746 00:39:39,960 --> 00:39:42,440 Speaker 1: to her Asian itinerary. Yeah, to the d m Z. 747 00:39:42,640 --> 00:39:45,440 Speaker 1: How about this. It's really it's interesting as the the 748 00:39:45,560 --> 00:39:49,040 Speaker 1: vice president tries to kind of expand the portfolio or 749 00:39:49,120 --> 00:39:51,480 Speaker 1: the president is doing this on her behalf, remembering that 750 00:39:51,560 --> 00:39:54,719 Speaker 1: it was a difficult first year dealing with issues on 751 00:39:54,760 --> 00:39:57,879 Speaker 1: the border. Although she became much more vocal as sort 752 00:39:57,920 --> 00:40:01,640 Speaker 1: of the point person post Roe v. Wade. That was 753 00:40:01,680 --> 00:40:03,560 Speaker 1: something that she's been talking a lot about it. It's 754 00:40:03,560 --> 00:40:05,520 Speaker 1: been out a bit on the campaign trail. This is 755 00:40:06,120 --> 00:40:09,440 Speaker 1: a big trip for her though internationally speaking, obviously, meeting 756 00:40:09,440 --> 00:40:12,359 Speaker 1: with world leaders from Japan, from Australia there and out 757 00:40:12,360 --> 00:40:14,359 Speaker 1: of the DMZ. That's not a lot you can do there, 758 00:40:14,360 --> 00:40:16,040 Speaker 1: by the way, She's not going to be dancing around 759 00:40:16,040 --> 00:40:18,719 Speaker 1: the border with Kim Jong Un the way Donald Trump was. 760 00:40:19,320 --> 00:40:21,520 Speaker 1: But there's some meetings there. She'll meet with American troops 761 00:40:21,920 --> 00:40:24,480 Speaker 1: on on the on that side of the line obviously, 762 00:40:24,960 --> 00:40:27,280 Speaker 1: and and it really comes down to a photoop, Nathan. 763 00:40:27,320 --> 00:40:30,480 Speaker 1: This is, you know, burnishing foreign policy credentials. If she 764 00:40:30,560 --> 00:40:34,360 Speaker 1: were to seek the job of actually being president, you 765 00:40:34,440 --> 00:40:37,800 Speaker 1: have to have that picture with the squinted eyes looking 766 00:40:37,840 --> 00:40:41,240 Speaker 1: across the border to the North Koreans, or maybe holding 767 00:40:41,239 --> 00:40:43,279 Speaker 1: a pair of binoculars. You'll likely see that in the 768 00:40:43,280 --> 00:40:46,240 Speaker 1: next couple of days. Now, while the vice presidents focused 769 00:40:46,239 --> 00:40:50,239 Speaker 1: on geopolitics, you've got President Biden putting his focus on 770 00:40:50,320 --> 00:40:53,720 Speaker 1: the economy with this series of meetings this week, including 771 00:40:53,760 --> 00:40:58,720 Speaker 1: a pretty interesting message to oil companies during this White 772 00:40:58,719 --> 00:41:03,160 Speaker 1: House competition conse yeah with with an ask or a 773 00:41:03,200 --> 00:41:07,000 Speaker 1: demand even to lower gas prices. And it's not Look, 774 00:41:07,600 --> 00:41:10,000 Speaker 1: it's interesting timing here because the White House has been 775 00:41:10,040 --> 00:41:12,200 Speaker 1: taking credit for the fact that gas prices have been 776 00:41:12,200 --> 00:41:14,480 Speaker 1: down over nine days in a row. Might even be 777 00:41:14,520 --> 00:41:16,200 Speaker 1: more than that at this point if you're keeping score 778 00:41:16,239 --> 00:41:18,480 Speaker 1: in your home game. Um, but this has been one 779 00:41:18,480 --> 00:41:20,680 Speaker 1: of the good stories to tell for the White House. 780 00:41:21,040 --> 00:41:23,680 Speaker 1: They've been releasing a million dollars a million barrels, i 781 00:41:23,680 --> 00:41:27,080 Speaker 1: should say, of oil from the spr They're talking with 782 00:41:27,239 --> 00:41:30,200 Speaker 1: exporters in the Middle East. They're dealing with the war 783 00:41:30,280 --> 00:41:33,200 Speaker 1: impact of the Putin price hike. Like Joe Biden says, 784 00:41:33,239 --> 00:41:35,680 Speaker 1: in gas prices have come down from above five dollars. 785 00:41:35,680 --> 00:41:39,040 Speaker 1: The problem is it's not uniform across the country and 786 00:41:39,280 --> 00:41:42,160 Speaker 1: is particularly on the West Coast. Some folks are still 787 00:41:42,200 --> 00:41:45,680 Speaker 1: paying a lot of money that does not exactly drive 788 00:41:45,800 --> 00:41:48,360 Speaker 1: with the price of crude oil. But as you also know, Nathan, 789 00:41:48,400 --> 00:41:51,640 Speaker 1: it's not just the price of oil. It's about refining bottlenecks, 790 00:41:51,680 --> 00:41:54,040 Speaker 1: and it's about the blend, whether it's summer or winter. 791 00:41:54,080 --> 00:41:56,120 Speaker 1: That can go a long way to impacting prices. So 792 00:41:56,440 --> 00:41:58,200 Speaker 1: it just might not be as easy, and it hasn't 793 00:41:58,239 --> 00:42:00,759 Speaker 1: been for this administration to ask the oil companies to 794 00:42:00,760 --> 00:42:03,680 Speaker 1: act a certain way. Yeah, we've seen reports of gas 795 00:42:03,719 --> 00:42:07,759 Speaker 1: prices back up above five dollars and then some in California. 796 00:42:07,880 --> 00:42:11,400 Speaker 1: Thanks for this, Joe, As always, Joe Matthew Washington, correspondent 797 00:42:11,400 --> 00:42:14,120 Speaker 1: from Bloomberg News, host of Sound On. You can hear 798 00:42:14,200 --> 00:42:17,600 Speaker 1: every weekday five pm Wall Street Time right here on 799 00:42:17,760 --> 00:42:20,080 Speaker 1: Bloomberg Radio. And of course read more about all these 800 00:42:20,120 --> 00:42:23,480 Speaker 1: stories we've been talking about on Bloomberg dot Com or 801 00:42:23,600 --> 00:42:27,200 Speaker 1: on the Bloomberg terminal. SMP futures right now are up 802 00:42:27,360 --> 00:42:29,640 Speaker 1: forty four points again of one point two percent, Dow 803 00:42:29,719 --> 00:42:33,719 Speaker 1: futures up two eighty five and NASDAC futures are hired 804 00:42:33,760 --> 00:42:35,680 Speaker 1: by a hundred fifty eight points. That's a gain of 805 00:42:35,760 --> 00:42:38,600 Speaker 1: one point four percent. Much more to come on Bloomberg 806 00:42:38,640 --> 00:42:42,080 Speaker 1: Surveillance next with Tom Keene, Jonathan Farrell, and Lisa Abramowitz 807 00:42:42,160 --> 00:42:46,960 Speaker 1: for Karen Moscow. I'm Nathan Hagar. This is Bloomberg