Speaker 1: Live from the Bloomberg Interactive Brooker Studios. This is Bloomberg
Speaker 1: day Break for Wednesday, March two. Coming up this hour,
Speaker 1: questions this morning over RUSSI has promised to scale back
Speaker 1: military operations. The January six Committee discovers big gaps and
Speaker 1: former President Trump's phone logs US future slump after four
Speaker 1: straight days of games, and hackers pull off one of
Speaker 1: the biggest crypto heist ever. Three Buffalo police officers were shot,
Speaker 1: plus the White House wam block President Trump's daughter and
Speaker 1: son in law from testifying before House Committee. Michael barn
Speaker 1: More and John stashdown Sports Kevin Durant led the Nets
Speaker 1: to victory over the Pistons, Chris Cryder and the Rangers
Speaker 1: with a road win at Pittsburgh. That's all straight ahead
Speaker 1: on Bloomberg day Break on Bloomberg Element Tree on New York,
Speaker 1: Bloomberg one, Washington, d C, Bloomberg one, O six one, Boston,
Speaker 1: Bloomberg nine sixties, San Francisco, Sirius x M one nineteen
Speaker 1: and around the world. Go on Bloomberg Radio dot Com
Speaker 1: and via the Bloomberg Business Set. Good morning, I'm Nathan
Speaker 1: Hagar and I'm kmeron Moscow and US futures are lower
Speaker 1: this morning. We're coming up to five o one on
Speaker 1: Wall Street, and we check the markets every fifteen minutes
Speaker 1: throughout the trading day on Bloomberg. Right now, SNP futures
Speaker 1: are down seventeen points, DAL futures down one seven and
Speaker 1: NASDAG futures down the seventy two. The ten year treasury
Speaker 1: is up to thirty seconds l two point three eight
Speaker 1: percent yield on the two year two point three zero percent.
Speaker 1: NI back screwed oil is up two point four percent,
Speaker 1: up two dollars fifty two cents and a hundred six
Speaker 1: dollars seventy four cents of barrel. The euro one point
Speaker 1: one three against the dollar. Nathan, Well, Karen, we'll have
Speaker 1: more on markets in a minute, but first let's get
Speaker 1: to the latest on the war in Ukraine. Russia is
Speaker 1: promising to scale back military operations near the capital city
Speaker 1: of Kiev and the city of churning of but there's
Speaker 1: still reports of showing near both cities. President Biden was
Speaker 1: asked whether he thinks the war resending or Rush is
Speaker 1: just buying time. We'll see. I don't read anything into
Speaker 1: until I see what their actions are. We'll see if
Speaker 1: they follow through and with their suggesting, the President Biden
Speaker 1: spoke at the news conference with the Prime Minister Singapore.
Speaker 1: Ukrainian President Vladimir Zelenski also has his doubts. Got more.
Speaker 1: We can say that the signals we hear from the
Speaker 1: talks are positive, but these signals can't silence the explosions
Speaker 1: of Russian shells. President Zelensky says their grounds not to
Speaker 1: trust Russia. A regional governor says the city of Churnhead
Speaker 1: was shelled all night despite Russia's promises, and the United
Speaker 1: Nations now says more than four million refugees have fled
Speaker 1: Ukraine Back in the US, Nathan new revelations tied to
Speaker 1: last year's attack on the Capitol. There are more than
Speaker 1: seven hours of gaps in White House telephone logs from
Speaker 1: the afternoon of January six, and those gaps coinside at
Speaker 1: the same time protesters swarm the US capital. Amy Morris
Speaker 1: has details from our Bloomberg newsroom in Washington. The committee
Speaker 1: investigating the insurrection found a big gap from a little
Speaker 1: after eleven am to about seven pm in the logs
Speaker 1: provided by the National Archives, but there is evidence that
Speaker 1: the president did talk with people inside the Capitol that day,
Speaker 1: including Kevin McCarthy, Jim Jordan's, and Mike Pence calls that
Speaker 1: don't show up on the White House logs. Now, the
Speaker 1: committee is trying to determine if the President bypassed the
Speaker 1: White House system by using a burner phone or his
Speaker 1: AIDS cell phones in Washington. I maybe more as Bloomberg daybreak.
Speaker 1: Okay me, thank you. Let's take a look at markets now.
Speaker 1: Beginning with treasuries, the tenure yield briefly dropped below it's
Speaker 1: two year equivalent yesterday for the first time since that inversions,
Speaker 1: leading to growing calls about the likelihood of a recession
Speaker 1: in the US, but Aaron Brown at Pimco says those
Speaker 1: concerns may be premature. It has been a good predictor
Speaker 1: in the past that recession is coming, but I don't
Speaker 1: think that really tells you anything new. We knew that
Speaker 1: we're relate cycle, and typically the yield curban birds and
Speaker 1: then it takes anywhere from eighteen twenty four months to
Speaker 1: actually move into a recession. So we're still quite a
Speaker 1: ways out until potentially we're going to enter into a recession.
Speaker 1: Pimco fund manager Aaron Brown says, it is more critical
Speaker 1: to look at why the yield curve is inverting. Meantime,
Speaker 1: all eyes are on the Fed. We will hear more
Speaker 1: from the Central Bank later today. Tune in for an
Speaker 1: exclusive interview with Richmond Fed President Tom Barkin. That's coming
Speaker 1: up at ten thirty am All Street Time today on
Speaker 1: Bloomberg Radio and Television. Well, Nathan, when it comes to
Speaker 1: stocks who are coming out four straight days of games,
Speaker 1: the S and P five Hybread closed above the hundred
Speaker 1: level for the first time since mid January. Right now,
Speaker 1: it's down just three percent from an all time high.
Speaker 1: Luca Paolini, as chief strategist at Picked and Asset Management,
Speaker 1: Marcus were significantly were sold for the number of reasons,
Speaker 1: of course, the wor in Ukraine, the federal reserves, weekend data,
Speaker 1: and now everything seems to be not as bad as
Speaker 1: it was, and so I think that there is this
Speaker 1: kind of sort of really friendly LOOKA Paolini at Pick
Speaker 1: Ted Asset Management says despite the rally, he remains conscious.
Speaker 1: Bank of America is also staying cautious. Karenet's analysts worn
Speaker 1: in eleven percent Surgeon stocks over the past two weeks.
Speaker 1: Has the hallmarks of a bear market rally, and it
Speaker 1: might give way to deeper losses. We get the details
Speaker 1: from Bloomberg's Charlie Pellett. Those analysts say warning signs are
Speaker 1: flashing for a market that has climbed despite clearly weaker fundamentals,
Speaker 1: including a Federal Reserve bent on raising rates sharply this
Speaker 1: year the battle persistent inflation. The strategists cautioned that the
Speaker 1: sell off that took the SMP five hundred twelve percent
Speaker 1: from its January record is not over, and sharp rallies
Speaker 1: are typical of volatility and bear markets, with some of
Speaker 1: the biggest on record occurring in the throes of the
Speaker 1: dot com meltdown and the global financial crisis in New York.
Speaker 1: Charlie Pellett, Bloomberg day Break. Sorry Charlie, thank you. But
Speaker 1: let's look at some stocks that are moving. Shares A
Speaker 1: Lulu Lemon rose more than eight percent in late trading
Speaker 1: the Athletic, where tailor delivered a sales forecast that beat estimates.
Speaker 1: Micron shares are out more than four and a half percent.
Speaker 1: The largest US memory chipmaker, gave an upbeat forecast, a
Speaker 1: sign that demand remans strong from data center customers and
Speaker 1: on the flip side. Shares of Chewy are down thirteen
Speaker 1: and a half percent. The online retailer of pet care
Speaker 1: products put out of forecast that fell short of estimates.
Speaker 1: We're also keeping an eye on cryptocurrencies this morning, Karen,
Speaker 1: after what is being called one of the biggest crypto
Speaker 1: attacks ever, and it wasn't discovered for almost a week.
Speaker 1: Let's get the details live from Bloomberg's Fernita Young. Good morning, Granita,
Speaker 1: Good morning, Nathan. Hackers stole about six hundred million dollars
Speaker 1: from a blockchain network connected to the popular Axie Infinity
Speaker 1: online game. They drained what's known as the Ronan bridge
Speaker 1: of close to a hundred seventy four thousand ether and
Speaker 1: almost thirty million U s DC tokens. The so called
Speaker 1: bridge lets people convert tokens into ones that can be
Speaker 1: used on another network. The blockchain that supports Axie Infinity
Speaker 1: says the breach happened in March twenty three, but is
Speaker 1: just discovered yesterday. This attack is the latest to show
Speaker 1: how bridge hecks can threaten the ecosystem of decentralized apps.
Speaker 1: Live in New York. I'm re need a Young Bloomberg
Speaker 1: day break, All right, We need to thank you again.
Speaker 1: Future is lower this morning, straight ahead, your latest local headlines,
Speaker 1: plus a check of sports, and this is Bloomberg. Thanks Caring.
Speaker 1: It's five oh seven on Wall Street where thirty degrees
Speaker 1: in Central Park. Big problems on southbound Route one and nine.
Speaker 1: It is closed for an accident investigation at Woodlawn Avenue.
Speaker 1: We'll get the details in traffic First. Michael Barr has
Speaker 1: more on what's going on in New York and around
Speaker 1: the world. Good morning, Michael, Good morning Nathan. It was
Speaker 1: a wild scene up in Buffalo. Three police officers were
Speaker 1: hit by gunfire after a motorist fled a traffic stop
Speaker 1: and led them on a chase through the city streets.
Speaker 1: The suspected gunman was firing at officers from the Vehicle
Speaker 1: Authority Stay. Officers shot and wounded the driver at an
Speaker 1: intersection in front of a police station. Buffalo Mayor Byron
Speaker 1: Brown very very dangerous situation, and we are very thankful
Speaker 1: that two suspects involved in this situation are in police
Speaker 1: custody are Brown says. The officers injuries were not life
Speaker 1: threatening and no civilians on the street were hit by
Speaker 1: the flying bullets. The White House were not block former
Speaker 1: President Donald Trump's daughter and son in law of Aunca
Speaker 1: Trump and Jared Kushner from testifying to the House committee
Speaker 1: investigating the January six Capital riot. White House spokeswoman Kate
Speaker 1: Beddenfield says the constitutional protections of executive privilege should not
Speaker 1: be used to shield from Congress or the public information
Speaker 1: about an attack on the Constitution itself. Kushner is expected
Speaker 1: to appear voluntarily before the committee this week. A team
Speaker 1: of US airplane accident investigators and technical experts could have
Speaker 1: to China as soon as this week to help unravel
Speaker 1: the mysterious crash of a Boeing seven thirty seven jet
Speaker 1: earlier this month. All one thirty two people on board
Speaker 1: the China Eastern jet were killed. President Joe Biden signed
Speaker 1: a law making lynching a federal hate crime. The President
Speaker 1: said racial hate isn't an old problem. It's a persistent one.
Speaker 1: Hate never goes away. It only hides. It hides under
Speaker 1: the rocks. Given just a little bit of oxygen, it
Speaker 1: comes roaring back out, screaming President Biden. An American astronaut
Speaker 1: who spent nearly a year on the International Space Station,
Speaker 1: is coming back to a world that has seen some
Speaker 1: dramatic changes. Mark Vanda High will be returning to Earth
Speaker 1: and for a time it wasn't clear that the Russians
Speaker 1: would give him a ride home because of the war
Speaker 1: in Ukraine. Before departing the I S S, Russian cosmonaut
Speaker 1: Anti Scarpolof talked about continued cooperation in space. People have
Speaker 1: problem on us on orbit. Yeah, like, uh, You'm not
Speaker 1: like one crew Scarpolof and Vanda High or due to
Speaker 1: land in Kazakhstan. This morning Global News twenty four hours
Speaker 1: a day on the air, end on Bloomberg Quick Take
Speaker 1: Forward by more than seven hundred journalists, analysts more than
Speaker 1: a hundred, twenty countries. Michael Barr, This is Bloomberg, Nathan,
Speaker 1: Thanks Michael. Just about five ten on Lall Street, Time
Speaker 1: for the Bloomberg Sports Upday. Good morning, John Stanshown, Good morning, Nathan.
Speaker 1: Regular seasons winding down, playoff positions being jockeyed. Four Rangers
Speaker 1: would love to have home ice advantage of the first rally.
Speaker 1: Only lost six regulation home games all season. They're battling
Speaker 1: with Pittsburgh and they beat the Penguins three to two
Speaker 1: to move one point ahead. Frank Petronto and Raynge Schneider
Speaker 1: scored second period Chris Cryder early in the third fifth
Speaker 1: goal of the season for Crider. Islanders won four three
Speaker 1: at Columbus, the Nets had to come from behind. In Brooklyn,
Speaker 1: they meet Detroit one thirty three. Kevin Durant scored forty
Speaker 1: one point at the Garden. N I T semi frontal
Speaker 1: wins from Xavier in Texas, A and M. They'll play
Speaker 1: tomorrow for the championship. Could be the last n I
Speaker 1: T game in New York, at least for a while.
Speaker 1: Until last year, the tournament always ended at MSG. Now
Speaker 1: they're gonna move it to other cities and Florida could
Speaker 1: not be win for the met over the Marlins. Other
Speaker 1: home run for Francisco Lindor disappointment in his first season
Speaker 1: as the Mattie's had four home runs in twenties spring
Speaker 1: training at bats Yankees fourteen to two over the Phillies.
Speaker 1: Fourth homer for Kyle Agashayoka. NFL Commissioner Roger get El
Speaker 1: met the media at the owners meetings in Palm Beach.
Speaker 1: Asked about the league possibly suspending quarterback des Shaun Watson
Speaker 1: is still facing twenty two civil lasses for sexual misconduct.
Speaker 1: Are people were working on it. Obviously, you know these
Speaker 1: are serious chargets, so we're looking at this seriously. UM.
Speaker 1: We now have obviously at least resolution from the criminal
Speaker 1: side of it. Obviously there's still civil charges that are
Speaker 1: going on, so our investigators hopefully will have access to
Speaker 1: more information. Watson was recently traded to Cleveland. Whead have
Speaker 1: got a massive new contract. John stash Allard Bloomberg Sports
Speaker 1: Nathan Okay, John, Thanks SMP Future is now down fifteen points.
Speaker 1: SA futures down a hundred nastact futures are by seventy
Speaker 1: one point send your treasury or two point three eight
Speaker 1: percent the two year at two points read zero spread
Speaker 1: of seven basis points. This is Bloomberg Bloomberg eleven three O.
Speaker 1: Weather cloudy. Today's showers possible this afternoon, a high near
Speaker 1: fifty degrees. We could get up near seventy tomorrow with
Speaker 1: more afternoon showers, upper fifties, partly sunny and breezy by Friday.
Speaker 1: Right now thirty degrees in Central Park markets. Headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot
Speaker 1: com for the Bloomberg Business out and at Bloomberg Quick Tape.
Speaker 1: This is a Bloomberg Business Lash and I'm Karen. Moscow
Speaker 1: stocks are falling, energy prices are rising. Is optimism about
Speaker 1: a de escalation of the war in Ukraine fades. Europe
Speaker 1: stock six hundred, snapping a three day winning streak after
Speaker 1: surging to the highest level in five weeks. Yesterday, US
Speaker 1: stock index futures are slipping amid warnings that gains of
Speaker 1: the past two weeks have the hallmarks of a bear
Speaker 1: market rally. We checked the markets every fifteen minutes throughout
Speaker 1: the trading day. On Bloomberg, Guess and p Future is
Speaker 1: down fourteen points down, futures down eighty nine, vast deck
Speaker 1: features down sixty five. The decks in Germany's down one
Speaker 1: point three percent ten Your treasury up one thirty second
Speaker 1: yeld two point three nine percent, yield on the two
Speaker 1: year two point three one percent. NIMEX screwed to oil
Speaker 1: is up two point seven percent of two dollars eighty
Speaker 1: two cents at a hundred seven dollars six cents of barrel.
Speaker 1: Comax school is up three tens percent or six dollars
Speaker 1: ten cents. At nineteen twenty four twenty announced the euro
Speaker 1: one point one eight against the dollar, British bound one
Speaker 1: point three one four or five, the yen at one
Speaker 1: twenty one point six eight, and bitcoin this morning is
Speaker 1: down about a third of a percent at forty seven thousand,
Speaker 1: three hundred ten dollars, and confidence in the Euro Area
Speaker 1: economy fell to the weakest level in a year as
Speaker 1: Russia's invasion of Ukraine fan fears of rising prices. A
Speaker 1: sentiment engaged by the European Commission declined to a hundred
Speaker 1: eight point five in March from one hundred fourteen point
Speaker 1: one the previous month, and inflation expectations jumped to the
Speaker 1: Hyacinths records began. And that's a bloomberg business flash. Now
Speaker 1: here's Michael Barr with more on what's going on around
Speaker 1: the world. Michael, good morning, Good morning, Karen. Russia's pledged
Speaker 1: to scale back some military operations in Ukraine is drawing skepticism.
Speaker 1: Ukrainian President volodimir's Lensky said there was no reason to
Speaker 1: believe Russia's announcement that it would reduce military activity near
Speaker 1: the capital of Kiev given what's happening on the ground.
Speaker 1: Thousands have died, and the UN Refugee Agency says more
Speaker 1: than four million Ukrainians have fled the country. A green
Speaker 1: light has been given to a second Boosters shot of
Speaker 1: the MODERNA and Fiser vaccines where Americans over fifty and
Speaker 1: the immune compromised. The decision comes as there's concern over
Speaker 1: a new COVID nineteen variant. In the NBA, the Nets one,
Speaker 1: the Wizards lost. In the NHL, the Rangers and Islanders won,
Speaker 1: the Bruins lost. Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quick Take, powered by more
Speaker 1: than twenty hundred journalists and analysts in more than a
Speaker 1: hundred twenty countries. Now, Michael Barr and this is Bloomberg.
Speaker 1: All right, Michael, thank you, Just about five twenty on
Speaker 1: Wall Street Live from the Bloomberg Interactive Broker Studios. This
Speaker 1: is Bloomberg Daybreak and Mark Champion is back with us
Speaker 1: this morning, Bloomberg News senior reporter for International Affairs, as
Speaker 1: we follow the latest on the war in Ukraine. Market morning.
Speaker 1: As you know, there was a lot of market optimism
Speaker 1: yesterday when Russian negotiators said that they would scale back
Speaker 1: military operations near two key cities in Ukraine. But it
Speaker 1: seems like the reaction from just about everyone around the
Speaker 1: world is we'll believe it when we see it. What
Speaker 1: are we seeing at this point? Uh? Well, there was
Speaker 1: fighting as usual overnight, with shelling in different areas around
Speaker 1: Kief and around Chenehof, which is the other city that
Speaker 1: the Russian said they were gonna pull back from, So
Speaker 1: not much sign of any change of a night. That
Speaker 1: wouldn't necessarily mean that the Russians aren't gonna do what
Speaker 1: they said. But more broadly, we know for already about
Speaker 1: two weeks now the Russians have been uh digging in
Speaker 1: around Kief uh and around Chenehoff to kind of more
Speaker 1: defensive positions UM, and that is likely to continue. They've
Speaker 1: been moving units over into Bulous, either to regroup or
Speaker 1: to replenish losses UH. And the question really is uh,
Speaker 1: you know. At the same time, the Russians have said
Speaker 1: that they are going to refocus their efforts on the east,
Speaker 1: in the Donbass region around Mariopo, which is under siege UM,
Speaker 1: and they've been doing that. And the question is whether
Speaker 1: any units that retreat UM out of uh the northern areas,
Speaker 1: whether those are then sent around to the other side
Speaker 1: of the country in the east. So is there any
Speaker 1: reason then to believe that when Russia says that it's
Speaker 1: going to scale back, that that could be a first
Speaker 1: step towards ending this war. I think the senses that
Speaker 1: Russia's It's been very difficult to believe what Russia's said
Speaker 1: up to this point, even before the invasion, when they
Speaker 1: said that they weren't going to evade, and and here
Speaker 1: we are, Uh, that's absolutely right. The Russian defense deputy
Speaker 1: Defense minister who made the announcement, he said this was
Speaker 1: about building trust. Um. That's going to be very hard
Speaker 1: to do, and it will have to be uh trust
Speaker 1: but verify as round the Reagan used to say, um.
Speaker 1: And that is not clear yet. And unfortunately, because the
Speaker 1: Russians at the same time said that they have new
Speaker 1: goals in terms of just where they're going to focus
Speaker 1: their effort. Um, there's there's a lot of skeptical skepticism
Speaker 1: and rightly so. Do we have a sense of from
Speaker 1: the Ukrainian side, what it would take for them to
Speaker 1: trust Russia, what they would need to see on the
Speaker 1: Russian side, Well, essentially they need to see a cease fire.
Speaker 1: They need to see an agreement that Russian troops will leave,
Speaker 1: basically going back to the position where we were before
Speaker 1: the war started on February three. Um, and uh, you
Speaker 1: know that there's no sign that the Russians are willing
Speaker 1: to do that. They goals their stated goals and are
Speaker 1: considerably larger. Um. And if they were to agree to
Speaker 1: do so, it would be essentially it would amount to
Speaker 1: a defeat, which President m put in Is is highly
Speaker 1: unlikely to acknowledge. So um, there is still a pretty
Speaker 1: big divide to to cross. Um, these things get sequenced.
Speaker 1: So what the Ukraine's are trying to do is to
Speaker 1: build some kind of ceasefire humanitarian corridors now and then
Speaker 1: try and leave the really difficult issues for a bit later.
Speaker 1: But it's it's very hard to organize that because some
Speaker 1: each side has to give up some of the leverage
Speaker 1: that they have, uh you know, in order to to
Speaker 1: to do one thing without doing the other. So um,
Speaker 1: that's what we saw yesterday in istan Bull where initially
Speaker 1: there had been hoped there might be a limited cease
Speaker 1: fire and it was was not realized. Only have about
Speaker 1: thirty seconds left here mark where we heard from the
Speaker 1: u N this morning that now more than four million
Speaker 1: refugees have fled Ukraine is Europe able to handle that
Speaker 1: kind of flow. Well, you know we know from the
Speaker 1: pot and it's it's extremely politically difficult. Um and at
Speaker 1: the moment economically Europe is you know, in a difficult place.
Speaker 1: But yes, this is a block of some five hundred
Speaker 1: million people. Um, they can absorb it. It's just going
Speaker 1: to be hot. Thanks for this, as always, Mark Champion
Speaker 1: with us this morning. Mark Champion is senior reporter for
Speaker 1: International Affairs for Bloomberg News. Checking the markets this morning
Speaker 1: ahead of the Wednesday morning open, futures are pulling back,
Speaker 1: with SMP futures now down eleven points, STOW futures down
Speaker 1: seventy two, NASTAD future is down fifty nine points. The
Speaker 1: tenure treasury is down to thirty seconds, the yield two
Speaker 1: point four zero percent. Yield on the two year right
Speaker 1: now two point three one percent. After the brief inversion
Speaker 1: for the two's tens curve yesterday, nime x screwed up
Speaker 1: two and a half percent, or two dollars fifty seven
Speaker 1: cents at a hundred six dollars eighty one cents. The
Speaker 1: barrel just ahead. More on the trust, but verify stance
Speaker 1: when it comes to Russia and seven and the hour
Speaker 1: as seven and a half hour gap in White House
Speaker 1: phone logs. This is Bloomberg Bloomberg eleven three oh weather
Speaker 1: cloudy today, showers possible this afternoon, upper forties for highs.
Speaker 1: We'll get near seventy tomorrow with more afternoon showers possible.
Speaker 1: It'll be partly sunny, breezy, and upper fifties by Friday.
Speaker 1: Right now thirty degrees broadcasting live from the Bloomberg Interactive
Speaker 1: Broker Studio in New York. Bloomberg E Living freo to Washington,
Speaker 1: d C, Bloomberg to Boston, Bloomberg one O six one
Speaker 1: to San Francisco, Bloomberg nun sixteen to the Country, Sirius
Speaker 1: XM to one nineteen and around the globe the Bloomberg
Speaker 1: Business app and Bloomberg Radio dot Com. This is Bloomberg Daybreak.
Speaker 1: It's five thirty on Wall Street. Good morning. I'm Nathan
Speaker 1: Hagar and I'm Teren Moscow, where just about four hours
Speaker 1: away from the open of US trading. Let's get you
Speaker 1: have to date of the news you need to know
Speaker 1: at this hour. Russia is promising to cut back military
Speaker 1: operations near two key cities in Ukraine, including the capital Kiev.
Speaker 1: The pledge comes after the latest round of negotiations, but
Speaker 1: the US and NATO have their doubts. We're still seeing
Speaker 1: fighting to the north and west of Kiev. And here's
Speaker 1: Pentagon's spokesman John Kirby. We're not prepared to call us
Speaker 1: a retreat or even a withdrawal. We think that that
Speaker 1: what they probably have in mind is a repositioning to
Speaker 1: prioritize elsewhere. John Kirby at the Pentagon says air strikes
Speaker 1: on Kiev are still happening, so the threat hasn't radically diminished. Meantime,
Speaker 1: in Ukraine, Karen President Vladimir Zelinski also has his doubts.
Speaker 1: We are seeing all of the risks. Of course, we
Speaker 1: are not seeing grounds to trust the words coming from
Speaker 1: representatives of the country that continues fighting to destroy US.
Speaker 1: President Zelinski says there are grounds not to trust Russia,
Speaker 1: and the regional governor says the city of Chernihiv was
Speaker 1: shelled all night despite Russia's promises. The u N says
Speaker 1: more than four million refugees have now fled Ukraine. That's
Speaker 1: nearly ten percent of the population. Well, nakan Becky, where
Speaker 1: the U West we have new revelations tied to the
Speaker 1: January a six attack on the Capitol, and the House
Speaker 1: committee investigating the insurrection has questions about former President Trump's
Speaker 1: calls that day. They've uncovered a seven hour gap in
Speaker 1: the president's phone logs. The gap covers a period when
Speaker 1: lawmakers were trying to get him to stop the mob.
Speaker 1: Cryptos in focus this morning as well, caring after what's
Speaker 1: being called one of the biggest cryptocurrency attacks ever and
Speaker 1: it wasn't discovered for almost a week. Let's get the
Speaker 1: details live from Bloomberg's or need a young good morning,
Speaker 1: greda Good morning, Nathan. Hackers stole about six hundred million
Speaker 1: dollars from a blockchain network connected to the popular Axie
Speaker 1: Infinity online game. They drained what's known as the Ronan
Speaker 1: Bridge of close to one seventy four thousand ether in
Speaker 1: almost thirty million US DC tokens. The so called bridge
Speaker 1: lets people convert tokens into one that can be used
Speaker 1: on another network. The blockchain that supports exi Infinity says
Speaker 1: the breach happened on March twenty three, but was just
Speaker 1: discovered yesterday Live in New York. I'm renned a young
Speaker 1: Bloombergday right, ready to thank you and turning to the
Speaker 1: stock market. Now, futures are lower after four straight days
Speaker 1: of gains. Oil is rising as optimism about a d
Speaker 1: escalation in the war in Ukraine phades and checking crewed
Speaker 1: right now, non ex screwed oil is up two and
Speaker 1: a quarter percent, up two dollars thirty four cents at
Speaker 1: a hundred six dollars fifty five cents of barrel. Brent
Speaker 1: is up to percent. It's at a hundred twelve dollars
Speaker 1: forty five cents. And again, SMP futures are down thirteen
Speaker 1: points down, futures down eighty NASDACK futures down sixty five.
Speaker 1: Straight ahead your latest local headlines plus a check of sports,
Speaker 1: and this is Bloomberg. Thanks Caring. It's five thirty three
Speaker 1: on Wall Street, thirty degrees in Central Park and there's
Speaker 1: an accident on the upper level of Arizono Bridge. Tails
Speaker 1: coming up in traffic. First Michael Barr with more on
Speaker 1: what's going on in New York and around the world. Michael,
Speaker 1: thank you very much. Nathan. Three police officers are wounded
Speaker 1: in Buffalo after someone fled a traffic stop and let
Speaker 1: officers on a long chase through the city and shot
Speaker 1: at them. Buffalo Police Commissioner Joseph Bramaglia one of the
Speaker 1: police vehicles being shot at. An officer was struck. Um
Speaker 1: was hit through the police vehicle windshield was struck multiple times.
Speaker 1: Um pursued continued on with the suspect vehicle continuing to shoot.
Speaker 1: Buffalo Mayor Byron Brown says two suspects are in custody.
Speaker 1: This was a very brazen situation with a suspect shooting
Speaker 1: from a vehicle at police officers. Mayor Brown says the
Speaker 1: wild chase ended at an intersection in front of a
Speaker 1: police station, where officers shot and wounded the driver. The
Speaker 1: White House says it will not block former President Donald
Speaker 1: Trump's daughter and son in law, Ivanka Trump and Jared Kushner,
Speaker 1: from testifying to the House committee investigating the January sixth insurrection.
Speaker 1: White House spokesperson Kate Bddenfield says the constitutional protections of
Speaker 1: executive privilege should not be used a shield from Congress
Speaker 1: or the public information about an attem act on the
Speaker 1: Constitution itself. Kushnier will reportedly appear voluntarily before the committee
Speaker 1: this week. ABC is also reporting Ivanka Trump is in
Speaker 1: talks with the panel over delivering testimony. President Biden signed
Speaker 1: into law the Emmett Till Anti Lynching Act, which makes
Speaker 1: lynching a federal hate crime. During remarks at the bill
Speaker 1: signing ceremony at the White House Rose Garden, the President said, Hey,
Speaker 1: it never goes away. It just hides Gracia. He isn't
Speaker 1: an old problem, It's a persistent problem. Till, who was
Speaker 1: fourteen years old from Chicago, was lynched while on a
Speaker 1: trip to Mississippi in nineteen. Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quittake, powered by
Speaker 1: more than twenty seven hundred journalists and analysts in more
Speaker 1: than one hundred twenty countries. Michael Barr and this is Bloomberg. Nathan. Okay, Michael,
Speaker 1: thank you. On Wall Street. Time for the Bloomberg Sports update.
Speaker 1: Here's John Stash fact, Nathan. Only three Angers have scored
Speaker 1: fifty goals in the season. Vic Hatfield nineteen seventy two,
Speaker 1: Adam Grays and the Stanley kept winning four season, and
Speaker 1: Yarmor Yager two thousand six. He's got the club record
Speaker 1: of fifty four. Chris Crider scored last night. He's got
Speaker 1: forty five goals. There are still fifteen games left. Big
Speaker 1: win for the Blue Shirts three two in Pittsburgh. They
Speaker 1: moved ahead of the Penguins into second place in the division.
Speaker 1: The Islanders won four three at Columbus the next first
Speaker 1: home win that included Kyrie Irving, and they came from
Speaker 1: behind Pete Detroit one thirty Cabina and scored forty one.
Speaker 1: The record is good, but I still got pros over there,
Speaker 1: and tonight they may shots. You know. They started off
Speaker 1: the game again six threes in the first quarters. They
Speaker 1: give you a lot of confidence as a team, you know,
Speaker 1: So we had to, uh, it's good first to go
Speaker 1: through periods like that because it's gonna be times when
Speaker 1: the playoffs with teams get hot unexpectedly and see how
Speaker 1: the weather storm like the Nets will be in the
Speaker 1: play in for the right to be in the playoffs.
Speaker 1: Next tonight host Charlotte next going for a fifth grade
Speaker 1: win at the Garden. At i T semifinal wins for
Speaker 1: Texas A and M and Xavier, who fired its coach
Speaker 1: during the n i T two teams will play tomorrow
Speaker 1: the championship. The NFL and an effort to downplay the
Speaker 1: importance of winning the coin flip that starts overtime, changing
Speaker 1: its overtime rules at least to the playoffs, no longer
Speaker 1: will have touchdown win you the game. Both teams will
Speaker 1: now be a stirt of a possession. Safety of real
Speaker 1: Peppers leaving the Giants he signed with the Patriots. He's
Speaker 1: coming off of torn a c l Will Tiger Woods
Speaker 1: play the upcoming Masters? Fourteen months after the car accident,
Speaker 1: Tiger has played in eighteen whole practice round at Augusta
Speaker 1: National with Justin Thomas and Tiger's son John Stashar Bloomberg Sports. Okay, John,
Speaker 1: thank you, you're coming up to seven on Wall Street
Speaker 1: time for the Tri State Business Report. Here's Bloomberg's ed Corey.
Speaker 1: A new lease at Lower Manhattan's one World Trade Center
Speaker 1: bumped ocupancy up to existing tenant. German data processing firm
Speaker 1: Salonas expanded its space at the tower, taking the entire
Speaker 1: seventy floor. According to Landlord's Durst Organization and the Port
Speaker 1: Authority of New York and New Jersey. Subnby's is accused
Speaker 1: of resisting the New York Attorney General Earl's efforts to
Speaker 1: see sales records for some of the auction houses biggest
Speaker 1: clients claimed stems from a lawsuit New York Attorney General
Speaker 1: Natitia James accused Southbes of helping a wealthy shipping executive
Speaker 1: avoid paying taxes on artwork you purchased. New York State
Speaker 1: residents could be getting a two hundred fifty dollar check
Speaker 1: to help pay for increasing prices at the gas pump.
Speaker 1: Senator Elijah Rinklin has proposed giving the money the current
Speaker 1: state residents who have registered a vehicle to New York
Speaker 1: State over the past two years. That's your Bloomberg Trying
Speaker 1: State Business Report. I'm Ed Corey. Thanks. Just about five
Speaker 1: thirty eight on Wall Street. Bloomberg Radio is on the
Speaker 1: air from San Francisco to New York, London to Hong Kong.
Speaker 1: Let's check in with our global news team for some
Speaker 1: of the top stories heard on our three hundred affiliate
Speaker 1: radio stations around the world. I'm Steve's potas got on
Speaker 1: Chim ten Wins in New York. We're talking about surging
Speaker 1: prices for the incredible edible egg. I'm Joan Donager telling
Speaker 1: Hey why w listeners Philadelphia about Philly Fed President Patrick
Speaker 1: Harker's golf advice. H'm Gina Servetti and for w BBM
Speaker 1: in Chicago. I'm reporting that Boeing is basing a lawsuit
Speaker 1: accusing it of misleading a subcontractor to win a contract
Speaker 1: for customized plane interiors. I'm caline Head called bloom l
Speaker 1: d a B Digital radio in Lundon. We were putting
Speaker 1: on a major power failure in East London, which means
Speaker 1: city greet workers are staying home. I'm ed Corey on
Speaker 1: ww J and Detroit, and I'm re bording General Motors
Speaker 1: is beating up Hummer EV production after getting more than
Speaker 1: sixty five pounder preservations. Those are some of the stories
Speaker 1: our hundred Bloomberg journalists and analysts are working on this morning.
Speaker 1: Around the world. It's five thirty nine on Wall Street.
Speaker 1: The following is an editorial from Bloomberg Opinion. This editorial
Speaker 1: was written by the Bloomberg Editorial Board. The International Criminal
Speaker 1: Court is investigating potential war crimes committed during Russia's invasion
Speaker 1: of Ukraine. But even if the court amasses proof of
Speaker 1: a tro to, these high ranking Russian officials won't face
Speaker 1: prosecution anytime soon. That's because Russia, like the US, does
Speaker 1: not accept the court's jurisdiction over its citizens. Even so,
Speaker 1: an impartial war crimes inquiry has value. Collecting evidence that
Speaker 1: Russia knowingly targeted civilians would counter President Vladimir Putin's attempts
Speaker 1: to cast the war as a legitimate military operation. It
Speaker 1: would make midd level officials think twice about carrying out
Speaker 1: criminal orders, and it would demonstrate the world's commitment to
Speaker 1: defending human rights and the rule of law. Russia's aggression
Speaker 1: in Ukraine has shocked the international community. Imposing accountability for
Speaker 1: such appalling acts is the first step toward ensuring they
Speaker 1: are not repeated. This editorial was written by the Bloomberg
Speaker 1: Editorial Board. For more Bloomberg opinion, please go to Bloomberg
Speaker 1: dot com, slash opinion or ope I n go on
Speaker 1: the Bloomberg Terminal. These has been Bloomberg opinion and you
Speaker 1: can hear Bloomberg opinion editorials every weekday. At this time,
Speaker 1: terminal customers can always read more at O P I
Speaker 1: n GO. SMP futures are down thirteen point, Staff futures
Speaker 1: down ninety Nasdaq futures lower by sixty two points. The
Speaker 1: tenure treasury yield two point three nine percent. This is
Speaker 1: Bloomberg Bloomberg eleventh, three oh weather clouds. Today's showers possible
Speaker 1: this afternoon with a high near fifty. More afternoon showers
Speaker 1: in a high close to seventy. Tomorrow will turn partly sunny,
Speaker 1: breezy and cooler. Friday highs near sixty right now thirty markets,
Speaker 1: headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, The Bloomberg Business and at Bloomberg Quicktake,
Speaker 1: this is a Bloomberg business lash, and I'm teren Moscow
Speaker 1: stocks are falling, energy prices rising as skepticism about Russia's
Speaker 1: promised or de escalate the war, and you praying renews
Speaker 1: concerns about higher raw material prices and commodity disruption. US
Speaker 1: Dot index futures are slipping, and we checked the markets
Speaker 1: every fifteen minutes throughout the trading day on Bloomberg s
Speaker 1: and P futures down twelve points down, futures down seventy eight,
Speaker 1: NASDAC futures down fifty eight. The decks in Germany's down
Speaker 1: one point to percent. The ten year treasury at little
Speaker 1: change yield two point three nine percent yield on the
Speaker 1: two year two point three one percent, nine back Scrude
Speaker 1: oil is up two percent or two dollars thirteen cents
Speaker 1: at a hundred six dollars thirty eight cents of barrel.
Speaker 1: Comic School that three tens per cent or six dollars
Speaker 1: in ninety nine announced the euro one point one eight
Speaker 1: against the dollar, British bound one point three one four seven.
Speaker 1: The end is at one point eight seven, and Bitcoin
Speaker 1: this morning down about half percent at forty seven thousand,
Speaker 1: two hundred seventy dollars as a Bloomberg business flash. Now
Speaker 1: here's Michael Barr with more unless going on around the world.
Speaker 1: Muchael Karen, thank you very much. As you mentioned, despite
Speaker 1: a pledge from Russia the scale backs of military operation
Speaker 1: in Ukraine, the war rages on just outside of Kiev. Meanwhile,
Speaker 1: negotiators from Ukraine and Russia are a schedule to meet
Speaker 1: again today which could possibly lead to a framework for
Speaker 1: ending the thirty five day war. The southern US is
Speaker 1: facing another powerful storm system expected to impact areas still
Speaker 1: recovering from destructive weather last week. Forecasters stay involves damaging
Speaker 1: winds for hundreds of miles as it moves from west
Speaker 1: to east, and then the potential for destructive tornadoes in
Speaker 1: the NBA, the Nets one, the Wizards lost in the NHL,
Speaker 1: the Rangers and Islanders won, the Bruins lost. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg
Speaker 1: Quick Tank, powered by more than twenty seven hundred journalists
Speaker 1: and analysts more than a hundred twenty countries. Michael Barr,
Speaker 1: this is Bloomberg. Nathan. Okay, Michael, thank you. It's just
Speaker 1: about five forty nine on Wall Street Life from the
Speaker 1: Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak. Let's continue
Speaker 1: our coverage of the war in Ukraine now from well
Speaker 1: Washington perspective. For that, we're joined live from our Bloomberg
Speaker 1: studios in the nation's capital by Bloomberg Government reporter Emily Wilkins. Emily,
Speaker 1: good morning. Of course, we heard in the report from
Speaker 1: Michael Barr there that despite Russia's claims that it's going
Speaker 1: to pull back from two key cities, that fighting continues.
Speaker 1: So how is the US responding to Russia's claims? Well,
Speaker 1: the mood in Washington it's really wait and see right now, Nathan,
Speaker 1: I mean, President Joe Biden said yesterday that he doesn't
Speaker 1: read anything into Russia, saying that it's going to de escalate.
Speaker 1: After a call with European leaders, Biden said there was
Speaker 1: consensus all of among them to serve weight and see
Speaker 1: what Russia winds up doing at this point. I mean,
Speaker 1: we're talking about de escalation, and we're not talking about
Speaker 1: a ceasefire. We're not talking about a complete withdrawal. We're
Speaker 1: talking about potentially a less attacks and attacking around the
Speaker 1: capital city of Keith. But some experts say that that
Speaker 1: could just mean that Russia's regrouping and that they're trying
Speaker 1: to really focus their efforts in the don Bust region.
Speaker 1: I mean, we heard very strong rhetoric yesterday from the
Speaker 1: Pentagon spokesman John Kirby told reporters that nobody should be
Speaker 1: fooling themselves by the Kremlins came. They will claim they
Speaker 1: will reduce attacks. He said it was a repositioning, not
Speaker 1: a will withdraw and the spokesman Kirby also said that
Speaker 1: the threat to keep has not been radically diminished, so
Speaker 1: lots of concern still here in Washington. Obviously, will be
Speaker 1: keeping a close eye on the continued talks today and
Speaker 1: and just an eye on the Russian military to see
Speaker 1: where things are standing. At this point. But as you noted, yes,
Speaker 1: the sholling has continued, the attacks have continued. Uh, it's
Speaker 1: it's definitely the war is still very much continuing. Yeah,
Speaker 1: that's certainly what we're hearing from Ukrainian officials for sure.
Speaker 1: And while there there's is this talk of de escalation
Speaker 1: from Russia, we're hearing talk of escalation from the US
Speaker 1: when it comes to aid to Ukraine. What is this
Speaker 1: about a half billion dollars that the Biden administrations thinking
Speaker 1: of adding on to what it's given to Ukraine. Yes,
Speaker 1: that is something that the Biden administration is considering. And
Speaker 1: now normally a request like that for funding does need
Speaker 1: to originate in Congress, So we keep keeping a close
Speaker 1: eye to see if President Biden comes to Congress with
Speaker 1: that request. Based on lawmakers who I spoke with after
Speaker 1: Ukrainian President of Vladimir's Lensky spoke with lawmakers the other week,
Speaker 1: even among Republicans, there was just a high willingness to
Speaker 1: go ahead and provide a provide whatever type of aid
Speaker 1: is needed. So that's definitely one aspect to keep an
Speaker 1: eye on it, and really kind of signals that the
Speaker 1: Biden administration does not see this conflict is ending soon.
Speaker 1: Lawmakers in both the House and the Senate will get
Speaker 1: a classified briefing today from members of the State Department,
Speaker 1: the Defense Department, and the Joint Chief of Staff on
Speaker 1: the status of the war. Yeah, so we'll continue to
Speaker 1: follow that certainly. Uh see if lawmakers come out with
Speaker 1: any comments following those briefings later on this afternoon. What
Speaker 1: about the legislation that have been considered to remove Russia's
Speaker 1: normal trade status? Where's that gone? So that has wound
Speaker 1: upstalled in the Senate. To to Kentucky Republican Senator Rand Paul,
Speaker 1: he's concerned over this one section in the bill that
Speaker 1: deals with sanctions on human rights abuses. Senator Paul says
Speaker 1: the legislation really needs to get specific on which type
Speaker 1: of abuses would trigger action. That it can't sort of
Speaker 1: be the broad language that's currently in there, and the
Speaker 1: lawmakers are trying to negotiate with him. The concern is
Speaker 1: that even if the Senate did wind up making the changes,
Speaker 1: it just delays the process. The bill has to go
Speaker 1: back to the House, the House has to schedule vote,
Speaker 1: the vote needs to be taken. They want this to
Speaker 1: get to Biden's task as quickly as possible, and so
Speaker 1: they want to avoid making any additional changes to the
Speaker 1: legislation that the House passed. So um. Democratic Majority Leader
Speaker 1: Chuck Schumer said that negotiations with Paul are ongoing. They're
Speaker 1: hoping to have some sort of breakthrough soon, although certainly
Speaker 1: as at a certain point here, uh, you know, the
Speaker 1: still lay. It would be less time consuming to just
Speaker 1: pass the changes, send it back to the House, and
Speaker 1: then have the House clear it and send it to
Speaker 1: President Biden. A lot of dynamics to keep on top
Speaker 1: of in Washington when it comes to the war in Ukraine.
Speaker 1: Thanks to this, Emily, good to have you with us
Speaker 1: at Bloomberg. Government Reporter Emily Wilkins from Washington. Karen Nathan,
Speaker 1: it is fifty three on Wall Street. It's down for
Speaker 1: the Bloomberg Law Report. Let's get to the legal stories
Speaker 1: where watching this morning from Bloomberg's Jeff Bellinger. A federal
Speaker 1: judge in California approved an eighteen million dollar deal between
Speaker 1: Activision Blizzard and the Equal Employment Opportunity Commission. Agreement subtle
Speaker 1: sexual harassment and discrimination claims against Activision. Federal court filings
Speaker 1: in Texas indicate Toyota reach settlements with more than two
Speaker 1: dozen hybrid owners who sought to represent the class action
Speaker 1: on claims of a dangerous break defect. McDonald's paid nearly
Speaker 1: six point four million dollars to General Council Desiree Rols
Speaker 1: Morrison after hiring her away from Boston Scientific last year.
Speaker 1: Bloom Burg Law everything you need, all on one legal
Speaker 1: research platform, including guidance analysis and Bloomberg Market Intelligence. Find
Speaker 1: out more at Bloomberg Law dot com. All right, Jeff,
Speaker 1: thank you. Now, another legal story we're watching brings us
Speaker 1: to Sunday Nights now infamous slap. The question now is
Speaker 1: whether Will Smith will face any consequences for slapping Chris
Speaker 1: Rock at the Oscars. The Academy Emotion, Pictures, Arts and
Speaker 1: Science is condemned Smith's actions and said it is starting
Speaker 1: a formal review for more in the matter. Bloomberg's June
Speaker 1: Grosso speaks to Rachel Phuzz, managing partner as Dui Back,
Speaker 1: Physe and Coleman, and a former lawyer for the Academy.
Speaker 1: Under California law, was the slap an assault and battery? Yes, absolutely,
Speaker 1: that was a crime. It was a misdemeanor under California law.
Speaker 1: That's an unwanted touching. It doesn't rise, I think, to
Speaker 1: the level of a felony, which is a pretty bad
Speaker 1: beating in that incident, but one he could have been
Speaker 1: arrested and charged with a misdemeanor for that act. The
Speaker 1: l a p D says that Chris Rock refused to
Speaker 1: file a police report. Without a police report, are they
Speaker 1: likely to go ahead with charges? They are not. Not.
Speaker 1: In an incident like this where there's very little damage
Speaker 1: done at the end of the day, the police department,
Speaker 1: the d A. In this incident, where it would be
Speaker 1: a misdemeanor, the city attorney would likely handle it here
Speaker 1: in Los Angeles and they are very unlikely to proceeed
Speaker 1: without the victim cooperation. Does Will Smith's popularity and status
Speaker 1: as a mega star well, that stopped the Academy from
Speaker 1: doing anything drastic, from doing anything more than a slap
Speaker 1: on the wrist. The Academy has been conservative with its
Speaker 1: approach to superstars in the past. I think because it
Speaker 1: is a body made up of writers, directors, and actors
Speaker 1: that punishing others in the industry in drastic ways is
Speaker 1: very difficult for the Academy and they have to be
Speaker 1: very thoughtful about how they go about various types of consequences.
Speaker 1: So I think Will Smith that his status will affect
Speaker 1: how this investigation and the ultimate resolution comes out. What
Speaker 1: are the possible consequences what they could do, Not that
Speaker 1: I'm saying they will do. I think it's everywhere from
Speaker 1: revoking his membership to the academy. They could revoke his OSCER.
Speaker 1: They could ban him from attending the officers for one
Speaker 1: year or in perpetuity. I would think they will also
Speaker 1: look to see if they can find him under their
Speaker 1: by laws. So if you had to take a guess,
Speaker 1: what would you guess would be the consequences for Will
Speaker 1: Smith here? My guess is he gets to keep his oscar.
Speaker 1: They're not going to take his oscar away, which is
Speaker 1: a consequence and they could implement if I were guessing,
Speaker 1: they will either ban him for one year from attending
Speaker 1: the oscars or suspend him for some three to six
Speaker 1: months period of time from the academy. That's Rachel Phose,
Speaker 1: a managing partner at Zwibeck, Physe and Coleman, speaking with
Speaker 1: the Bloomberg student Gross Soo. Catch more of that interview,
Speaker 1: plus analysis of the latest legal news by subscribing to
Speaker 1: the Bloomberg Law podcast or downloading the show at Bloomberg
Speaker 1: dot com slash podcast. Attorneys can find exceptional legal research
Speaker 1: and business development tools at Bloomberg law dot com and
Speaker 1: on the Bloomberg terminal at b Law. Go s and
Speaker 1: P Future is down thirteen points this morning, Dawn Future
Speaker 1: is down eight two, nasdack Futures down sixty one, and
Speaker 1: Bloomberg day Break continues. This is Bloomberg