1 00:00:02,120 --> 00:00:05,439 Speaker 1: Live from the Bloomberg Interacted Berger Studios. This is Bloomberg 2 00:00:05,480 --> 00:00:09,360 Speaker 1: day Break for Wednesday, June two. Coming up this hour, 3 00:00:09,640 --> 00:00:12,400 Speaker 1: the latest round of primary results rolls in as the 4 00:00:12,440 --> 00:00:15,640 Speaker 1: stage gets set for November's election. Vivid testimony at the 5 00:00:15,720 --> 00:00:19,320 Speaker 1: January six hearings by a former White House aid Finland 6 00:00:19,320 --> 00:00:22,560 Speaker 1: and Sweden moved closer to NATO membership. And the latest 7 00:00:22,560 --> 00:00:25,360 Speaker 1: on the Marcus After yesterday's of Wall Street sell off, 8 00:00:25,920 --> 00:00:30,160 Speaker 1: former socialite Glenne Maxwell was sentenced involving sexual abuse. Plus 9 00:00:30,240 --> 00:00:33,120 Speaker 1: the former and current mayors of New York disagree on 10 00:00:33,200 --> 00:00:36,640 Speaker 1: an assault claim. I'm Michael barn More ahead, I'm John 11 00:00:36,680 --> 00:00:39,520 Speaker 1: stash Shard Sports another win for the Yankees, lopslided loss 12 00:00:39,520 --> 00:00:42,040 Speaker 1: for the Mets of the Knicks may have found their pointyard. 13 00:00:44,360 --> 00:00:48,000 Speaker 1: That's all trained ahead on Bloomberg Daybreak on Bloomberg he 14 00:00:48,080 --> 00:00:51,800 Speaker 1: liveing three on New York, Bloomberg on Washington, d C, 15 00:00:52,320 --> 00:00:55,880 Speaker 1: Bloomberg one oh six one, Boston, Bloomberg nine sixties and 16 00:00:55,960 --> 00:00:59,920 Speaker 1: Francisco Sirius x M one nineteen and around the world 17 00:01:00,040 --> 00:01:03,560 Speaker 1: on Bloomberg Radio dot com and via the Bloomberg Business App. 18 00:01:07,400 --> 00:01:10,559 Speaker 1: Good morning, I'm Nathan Hagar and I'm Karen Moscow. US 19 00:01:10,600 --> 00:01:14,039 Speaker 1: stock index futures are extending their losses this morning. We're 20 00:01:14,040 --> 00:01:15,800 Speaker 1: coming up to six o one on Wall Street, and 21 00:01:15,840 --> 00:01:18,000 Speaker 1: we check the markets every fifteen minutes throughout the trading 22 00:01:18,120 --> 00:01:21,039 Speaker 1: day on bloomberg S and P futures down eight points 23 00:01:21,120 --> 00:01:24,360 Speaker 1: now futures down thirty NASDAG futures down thirty eight and 24 00:01:24,400 --> 00:01:26,640 Speaker 1: the ten year treasury down one thirty second. You have 25 00:01:26,720 --> 00:01:29,640 Speaker 1: three point one seven percent yield on the two year 26 00:01:29,800 --> 00:01:32,640 Speaker 1: three point one zero percent, and i X scrude oil 27 00:01:32,720 --> 00:01:35,160 Speaker 1: is up three tenths percent. Nathan, Karen. We'll have more 28 00:01:35,200 --> 00:01:36,759 Speaker 1: on the markets in a minute, but first we want 29 00:01:36,760 --> 00:01:39,160 Speaker 1: to catch up on some key primary election results from 30 00:01:39,200 --> 00:01:41,680 Speaker 1: across the country. Let's begin here in New York, where 31 00:01:41,680 --> 00:01:44,160 Speaker 1: we joined live by Bloomberg's Michael Bark. Good morning, Michael, 32 00:01:44,280 --> 00:01:48,200 Speaker 1: Good morning, Nathan. And the Democratic gubernatorial primary was no contest, 33 00:01:48,280 --> 00:01:51,560 Speaker 1: as Governor Kathy hokel one, going away with almost sixty 34 00:01:51,560 --> 00:01:54,480 Speaker 1: eight percent of the vote. Hocal, during her victory speech 35 00:01:54,520 --> 00:01:58,000 Speaker 1: talked about the reason Supreme Court rulings are we gonna surrender? 36 00:01:58,240 --> 00:02:00,960 Speaker 1: Are we gonna fight back? I know what I'm gonna do. 37 00:02:01,400 --> 00:02:05,440 Speaker 1: I'm fighting back I'm fighting back against that. Governor. Huckle 38 00:02:05,480 --> 00:02:09,280 Speaker 1: defeated Jamanni Williams, who got nineteen percent, and Tom Swasse 39 00:02:09,440 --> 00:02:13,160 Speaker 1: with percent. Les Eldon won the GOP primary for governor 40 00:02:13,200 --> 00:02:16,239 Speaker 1: with forty four percent of the vote. Are we ready 41 00:02:16,240 --> 00:02:21,440 Speaker 1: to fire Kathy Hucle please? Eldon beat Andrew Giuliani, the 42 00:02:21,480 --> 00:02:23,920 Speaker 1: son of former New York Mayor Rudy Giuliani, who got 43 00:02:24,280 --> 00:02:27,720 Speaker 1: three percent. Rob Asterreina got eighteen percent, and Harry Wilson 44 00:02:27,760 --> 00:02:32,000 Speaker 1: received fift in New York. Michael Barr Bloomberg Day Break, 45 00:02:32,080 --> 00:02:34,680 Speaker 1: Karen Nathan, all right, Michael, thank you. As some other 46 00:02:34,720 --> 00:02:38,320 Speaker 1: key primary results of note, Republicans in Colorado rejected two 47 00:02:38,400 --> 00:02:41,960 Speaker 1: candidates aligned with former President Trump. Tina Peters lost to 48 00:02:42,000 --> 00:02:45,240 Speaker 1: Pam Anderson for a Secretary of State. Anderson had percent 49 00:02:45,320 --> 00:02:48,160 Speaker 1: of the vote. Ron Hanks lost a Senate nomination to 50 00:02:48,240 --> 00:02:51,280 Speaker 1: John O'Day, who has often acknowledged that President Biden won 51 00:02:51,320 --> 00:02:54,840 Speaker 1: the election. Oh Day had fifty four percent of votes. 52 00:02:55,080 --> 00:02:58,440 Speaker 1: The meantime, Karen Too hardline conservatives came out winners last night. 53 00:02:58,560 --> 00:03:01,120 Speaker 1: Lauren Bobert got sixty five percent of the vote in 54 00:03:01,160 --> 00:03:04,280 Speaker 1: Colorado's third congressional district. She campaigned on the right to 55 00:03:04,320 --> 00:03:07,000 Speaker 1: bear arms and disagrees with separation of church and state. 56 00:03:07,280 --> 00:03:10,480 Speaker 1: In Illinois, Republican Mary Miller won her House seat primary 57 00:03:10,520 --> 00:03:12,880 Speaker 1: with fifty seven percent of the vote. Miller called the 58 00:03:12,880 --> 00:03:15,920 Speaker 1: Supreme Court's decision on abortion quote a historic victory for 59 00:03:16,000 --> 00:03:19,600 Speaker 1: white life. Her spokeswoman says she misspoke well, Nathan. We 60 00:03:19,680 --> 00:03:22,239 Speaker 1: turned out to the nation's capital, where a former White 61 00:03:22,240 --> 00:03:24,600 Speaker 1: House said is given the most dramatic testimony yet to 62 00:03:24,639 --> 00:03:28,200 Speaker 1: the January six House Committee. Cassidy Hutchinson as a former 63 00:03:28,240 --> 00:03:30,840 Speaker 1: assistant to then White House Chief of Staff Mark Meadows. 64 00:03:31,080 --> 00:03:34,160 Speaker 1: She says the former president new armed people were at 65 00:03:34,200 --> 00:03:38,360 Speaker 1: his rally. He also demanded Secret Service removed metal detectors 66 00:03:38,480 --> 00:03:41,280 Speaker 1: or mag's to let them in. Something to the effective. 67 00:03:42,200 --> 00:03:44,360 Speaker 1: Take the acting mags away. They're not here to hurt me. 68 00:03:45,080 --> 00:03:47,480 Speaker 1: Let them in. Let my people in. They can march 69 00:03:47,560 --> 00:03:49,480 Speaker 1: the capital after the rallies are over. They can march 70 00:03:49,520 --> 00:03:52,640 Speaker 1: from They can march from the Olys and Cassidy Hutchinson 71 00:03:52,720 --> 00:03:55,200 Speaker 1: says former President Trump wanted to go to the capital 72 00:03:55,280 --> 00:03:58,240 Speaker 1: with the demonstrators ahead of his Secret Service detail. Robert 73 00:03:58,280 --> 00:04:01,800 Speaker 1: Engel told him it wasn't safe. That's when Hutchinson says 74 00:04:01,840 --> 00:04:05,160 Speaker 1: the President lashed out from inside is Limo. The President 75 00:04:05,920 --> 00:04:08,320 Speaker 1: reached up towards the front of the vehicle to grab 76 00:04:08,400 --> 00:04:14,560 Speaker 1: at the steering wheel. Mr Engel grabbed his arm said sir, 77 00:04:14,680 --> 00:04:17,159 Speaker 1: you need to take your hand off the steering wheel. Now. 78 00:04:17,200 --> 00:04:20,839 Speaker 1: Doubt is being cast on that account from Cassidy Hutchinson 79 00:04:21,000 --> 00:04:23,719 Speaker 1: and a truth social post. Former President Trump said it 80 00:04:23,760 --> 00:04:26,880 Speaker 1: did not happen, and several former aids said it's unlikely 81 00:04:26,960 --> 00:04:29,560 Speaker 1: he could have reached the steering wheel from the backseat. Oh, 82 00:04:29,600 --> 00:04:32,479 Speaker 1: we have a major political development oversees this morning. Karen, 83 00:04:32,560 --> 00:04:34,880 Speaker 1: Finland and Sweden have taken a major step on their 84 00:04:34,880 --> 00:04:37,919 Speaker 1: way to NATO membership. Let's get more from Bloomberg's Maria 85 00:04:37,960 --> 00:04:40,599 Speaker 1: today o who's covering the NATO meeting in Madrid. But 86 00:04:40,680 --> 00:04:42,800 Speaker 1: it's a huge deal or the one of course, as 87 00:04:42,839 --> 00:04:45,840 Speaker 1: you know, yesterday said he would agree to this new 88 00:04:45,880 --> 00:04:48,040 Speaker 1: membership for Sweden and Finland. So we are going to 89 00:04:48,080 --> 00:04:51,039 Speaker 1: get their e two members from the thirty member Alliance 90 00:04:51,080 --> 00:04:52,839 Speaker 1: by the end of the summit. And by the way, 91 00:04:52,880 --> 00:04:55,400 Speaker 1: this should be very easy because a lot of the 92 00:04:55,520 --> 00:04:59,800 Speaker 1: systems that they used already our native compatible. Bloomberg's Maria, 93 00:04:59,800 --> 00:05:02,159 Speaker 1: it's a dale reporting from Madrid, says the membership process 94 00:05:02,200 --> 00:05:06,080 Speaker 1: will still take many months, including ratification from NATO Allies parliaments. 95 00:05:06,400 --> 00:05:08,800 Speaker 1: We turned out to the markets, Nathan, We're futures here 96 00:05:08,800 --> 00:05:11,520 Speaker 1: in the US are lower. This follows yesterday sell off, 97 00:05:11,560 --> 00:05:14,480 Speaker 1: which saw all three major indexes tumble on renewed worries 98 00:05:14,520 --> 00:05:17,400 Speaker 1: about economic growth. The hardest hit was the NASDACK following 99 00:05:17,440 --> 00:05:20,000 Speaker 1: three percent, the S and P five hundred drop two percent. 100 00:05:20,279 --> 00:05:23,880 Speaker 1: Victoria Green, as chief investment officer at G squared Private Wealth, 101 00:05:24,200 --> 00:05:25,760 Speaker 1: I think we've got a little more to go, Like 102 00:05:25,800 --> 00:05:28,320 Speaker 1: we're working for some confirmation. We're looking for something that 103 00:05:28,360 --> 00:05:30,880 Speaker 1: makes us feel better about the world. Um and I 104 00:05:30,920 --> 00:05:33,719 Speaker 1: think right now we talk about it, it's very kind 105 00:05:33,760 --> 00:05:36,120 Speaker 1: of simplictic. But don't fight the feed, and the feed 106 00:05:36,240 --> 00:05:40,080 Speaker 1: is Hawkers and G squared Private Wealth. Victoria Green notes 107 00:05:40,120 --> 00:05:43,040 Speaker 1: the latest economic reading spark yesterday sell off, a gauge 108 00:05:43,080 --> 00:05:45,880 Speaker 1: of US consumer confidence fell to its lowest level in 109 00:05:45,960 --> 00:05:48,040 Speaker 1: more than a year. Well today, Karen all Eyes are 110 00:05:48,080 --> 00:05:51,600 Speaker 1: on Central Banks FED Chair J Powell, ECB President Christine 111 00:05:51,640 --> 00:05:54,599 Speaker 1: Lagarde and Bank of England Governor Andrew Bailey appeared together 112 00:05:54,920 --> 00:05:58,159 Speaker 1: at the ECB's annual meeting in the Portuguese resort of CenTra. 113 00:05:58,400 --> 00:06:02,200 Speaker 1: Bloomberg experiencing lackwise there and filed this report. Today day 114 00:06:02,200 --> 00:06:06,200 Speaker 1: to the focus shifts to the broader economy. Participants, including 115 00:06:06,200 --> 00:06:10,600 Speaker 1: FED governors, will discuss the global supply chain, pressures, international trade, 116 00:06:10,680 --> 00:06:13,400 Speaker 1: and inflation. No matter where you're sitting in the world, 117 00:06:13,520 --> 00:06:16,520 Speaker 1: inflation is your number one concern, and Marcus want to 118 00:06:16,520 --> 00:06:19,480 Speaker 1: know what's the economic price that central bankers are willing 119 00:06:19,520 --> 00:06:22,760 Speaker 1: to pay to make sure inflation is under control in CenTra. 120 00:06:22,920 --> 00:06:25,520 Speaker 1: I'm Francie Lakwa, Bloomberg Day Break, All right, friend, thanks, 121 00:06:25,560 --> 00:06:27,919 Speaker 1: you want to stay tuned for today's big conversation with 122 00:06:27,960 --> 00:06:31,200 Speaker 1: the biggest names in central banking. Bloomberg's Fiancing Lakwa speaks 123 00:06:31,200 --> 00:06:34,560 Speaker 1: with j Pal, Christine Lagard, Andrew Bailey, and Augustine Carston's 124 00:06:34,600 --> 00:06:37,680 Speaker 1: live right here on Bloomberg Radio and on Bloomberg Television 125 00:06:37,680 --> 00:06:40,880 Speaker 1: at nine am Wall Street Time and Incorporate News. Nathan 126 00:06:40,960 --> 00:06:43,960 Speaker 1: Tesla has laid off about two workers on his Autopilot 127 00:06:43,960 --> 00:06:47,039 Speaker 1: team and a facility in California. Bloomberg News has learned 128 00:06:47,080 --> 00:06:49,800 Speaker 1: the majority of those let go we're hourly workers, and 129 00:06:49,880 --> 00:06:53,480 Speaker 1: Disney has extended CEO Bob Chpex contract for three years. 130 00:06:53,560 --> 00:06:57,279 Speaker 1: He's battled controversy and a crippling pandemic at the same time. 131 00:06:57,279 --> 00:07:02,719 Speaker 1: Shape as spearheaded Disney's transformation into a streaming powerhouse. Futures 132 00:07:02,720 --> 00:07:05,920 Speaker 1: this morning or lower SMP futures down five points down, 133 00:07:05,960 --> 00:07:09,800 Speaker 1: futures down three little changed Nowsday futures down twenties seven 134 00:07:09,960 --> 00:07:12,360 Speaker 1: and a tenure treasury that'll change the yield three point 135 00:07:12,400 --> 00:07:15,240 Speaker 1: one six percent. Straight to head your latest local headlines 136 00:07:15,280 --> 00:07:23,560 Speaker 1: plus a check of sports, and this is Bloomberg. Thank you, Karen, 137 00:07:23,600 --> 00:07:25,880 Speaker 1: six oh seven on Wall Street, sixty six degrees in 138 00:07:25,920 --> 00:07:28,400 Speaker 1: Central Park. Little change to the situation on the Gothels 139 00:07:28,440 --> 00:07:31,080 Speaker 1: Bridge ramp to the New Jersey Turnpike. It is still closed. 140 00:07:31,400 --> 00:07:33,200 Speaker 1: Peter Van's got details on that in a minute, but 141 00:07:33,280 --> 00:07:35,720 Speaker 1: Michael bars here first with what else is going on 142 00:07:35,760 --> 00:07:37,640 Speaker 1: in New York and around the world. Michael, thank you 143 00:07:37,720 --> 00:07:40,240 Speaker 1: very much, Nathan. While Governor Hukel and leez Elden will 144 00:07:40,280 --> 00:07:43,440 Speaker 1: square off in the full other primary contests were settled 145 00:07:43,440 --> 00:07:47,280 Speaker 1: in New York Democrat Anthony Dogato one for Lieutenant governor, 146 00:07:47,320 --> 00:07:52,480 Speaker 1: with Delgado replaced former Lieutenant Governor Brian Benjamin, who was 147 00:07:52,560 --> 00:07:56,720 Speaker 1: arrested on federal corruption charges. Meanwhile, Andrew Giuliani came up 148 00:07:56,760 --> 00:07:59,600 Speaker 1: short in his run for the GOP nomination for governor. 149 00:07:59,760 --> 00:08:02,600 Speaker 1: We need to make sure we lick our wounds tonight 150 00:08:02,920 --> 00:08:07,600 Speaker 1: and tomorrow. Let's get up and let's support the Republican nominee, 151 00:08:08,000 --> 00:08:12,480 Speaker 1: Congressman LESE. Elden, and let's make him. Let's make him 152 00:08:13,560 --> 00:08:17,320 Speaker 1: governor of the state of New York. Former Mayor Rudy 153 00:08:17,360 --> 00:08:20,720 Speaker 1: Giuliani helped campaign for his son, but on Sunday, he 154 00:08:20,800 --> 00:08:23,040 Speaker 1: claimed that he was assaulted by a heckler at a 155 00:08:23,080 --> 00:08:27,800 Speaker 1: Staten Island supermarket. However, current Mayor Eric Adams suggested that 156 00:08:27,880 --> 00:08:31,920 Speaker 1: Rudy Giuliani be investigated for filing a false police report. 157 00:08:32,240 --> 00:08:34,480 Speaker 1: Adam says, when you look at the video, the guy 158 00:08:34,520 --> 00:08:37,920 Speaker 1: basically walked by and patted him on the back. I 159 00:08:37,920 --> 00:08:40,440 Speaker 1: would if we didn't have the video, this person would 160 00:08:40,440 --> 00:08:42,880 Speaker 1: have been accused with a serious crime when all he 161 00:08:42,920 --> 00:08:44,880 Speaker 1: did was packed the guy on the back. He's a 162 00:08:44,920 --> 00:08:48,640 Speaker 1: former mayor. I think he is responsible for a former mayor. 163 00:08:48,760 --> 00:08:52,400 Speaker 1: Giuliani shot back, calling Adams an idiot. Giuliani, who was 164 00:08:52,440 --> 00:08:55,080 Speaker 1: seventy eight, says he didn't file the report the city's 165 00:08:55,120 --> 00:08:59,320 Speaker 1: police department did. Earlier, Giuliani said that he was hit 166 00:08:59,480 --> 00:09:02,959 Speaker 1: as if a boulder hit me. New York Democratic Congresswoman 167 00:09:03,000 --> 00:09:07,160 Speaker 1: Alexandria o'cassio Cortez is reacting to shocking testimony from an 168 00:09:07,160 --> 00:09:09,880 Speaker 1: aide to former White House Chief of Staff Mark Meadows, 169 00:09:09,880 --> 00:09:13,040 Speaker 1: who testified before the January six panel. She spoke on 170 00:09:13,200 --> 00:09:16,439 Speaker 1: the CBS Late Show with Stephen Golbert. They knew that 171 00:09:16,520 --> 00:09:19,439 Speaker 1: what they were doing was wrong. At the very end 172 00:09:19,480 --> 00:09:22,520 Speaker 1: of this hearing, you hear that Mark Meadows, the chief 173 00:09:22,559 --> 00:09:25,640 Speaker 1: of Staff to the President himself, asked for a pardon 174 00:09:26,080 --> 00:09:29,400 Speaker 1: because he knew that he was breaking the law. Congresswoman 175 00:09:29,400 --> 00:09:32,720 Speaker 1: o'cassio Cortez says those who sought partners should be expelled 176 00:09:32,760 --> 00:09:36,000 Speaker 1: from the house. Former socialite Galain Maxwell was sentenced to 177 00:09:36,040 --> 00:09:38,920 Speaker 1: twenty years in prison for her role in helping Jeffrey 178 00:09:38,960 --> 00:09:43,520 Speaker 1: Epstein sexually abused underage girls. Meanwhile, R and B star 179 00:09:44,080 --> 00:09:46,640 Speaker 1: R Kelly will be sentenced today in Brooklyn. He was 180 00:09:46,679 --> 00:09:50,280 Speaker 1: convicted of racketeering and accused of sexual misconduct. Global News 181 00:09:50,280 --> 00:09:53,520 Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake, 182 00:09:53,760 --> 00:09:56,600 Speaker 1: powered by more than twenty seven d journalists and analysts 183 00:09:56,679 --> 00:09:59,520 Speaker 1: more than a hundred twenty countries. Michael Barren, this is 184 00:09:59,559 --> 00:10:06,439 Speaker 1: Bloomber Nathan Okay, Michael, thank you, we're kind of It's 185 00:10:06,440 --> 00:10:08,160 Speaker 1: a sixth cent on Wall Street. Time for the Bloomberg 186 00:10:08,160 --> 00:10:10,520 Speaker 1: Sports Update with John stash Ower. All right, Nathan, is 187 00:10:10,520 --> 00:10:13,720 Speaker 1: the Yankees keep winning. The numbers become more staggering. Their 188 00:10:13,760 --> 00:10:16,960 Speaker 1: record seventy five games in his fifty five and twenty 189 00:10:17,080 --> 00:10:19,439 Speaker 1: it's the sixth best in baseball history. At least, it's 190 00:10:20,080 --> 00:10:22,280 Speaker 1: one another game that didn't exactly crush the opponent, but 191 00:10:22,640 --> 00:10:24,720 Speaker 1: to one victory over Oakland. The star was a guy 192 00:10:24,720 --> 00:10:26,880 Speaker 1: who had been toiling in the miners almost all season. 193 00:10:26,920 --> 00:10:29,600 Speaker 1: But twice now the Yanks have called on twenty six 194 00:10:29,679 --> 00:10:32,360 Speaker 1: year old rookie JP Sears to come up from Scranton 195 00:10:32,440 --> 00:10:34,480 Speaker 1: and him two starts. He is not allowed to run 196 00:10:34,520 --> 00:10:38,680 Speaker 1: Oz Travino RBI single first Anymorewin Gonzalez solo homer the second, 197 00:10:39,000 --> 00:10:40,800 Speaker 1: the A's only run game with two outs in the 198 00:10:40,880 --> 00:10:42,800 Speaker 1: nin thought play homes. He was still got able to 199 00:10:42,840 --> 00:10:45,199 Speaker 1: get his thirteenth Say Day game today, and then the 200 00:10:45,280 --> 00:10:48,160 Speaker 1: Yanks go on the road for ten. Houston Astros split 201 00:10:48,280 --> 00:10:50,080 Speaker 1: that four game series with the Yankees State in New 202 00:10:50,120 --> 00:10:52,439 Speaker 1: York beat the Mets nine to one. File Tucker three 203 00:10:52,480 --> 00:10:55,520 Speaker 1: run Homer first and even off Carlos Carrasco, Jordan Alvarez 204 00:10:55,520 --> 00:10:57,440 Speaker 1: and Jury Gurry. I'll two run shots in the fifth. 205 00:10:57,440 --> 00:10:59,839 Speaker 1: The Mets was shut out until the ninth. Does NBA 206 00:11:00,040 --> 00:11:02,559 Speaker 1: rate and he kicks off tomorrow. Multiple reports the Knicks 207 00:11:02,600 --> 00:11:05,839 Speaker 1: will land Jalen Brunson. Nicks just traded Alec Birks and 208 00:11:05,880 --> 00:11:08,720 Speaker 1: new Lands Noel to Detroit to clear more salary cap space. 209 00:11:08,800 --> 00:11:11,679 Speaker 1: Brunson opened eyes with a forty one point playoff game 210 00:11:11,720 --> 00:11:13,719 Speaker 1: for Dallas. His father was recently hired to be a 211 00:11:13,760 --> 00:11:16,959 Speaker 1: Knick's assistant and the son of Nick's president Leon Rose 212 00:11:17,080 --> 00:11:20,200 Speaker 1: is Brunson's agent. Ed Wimbledon, the return of Serena Williams 213 00:11:20,240 --> 00:11:23,240 Speaker 1: did not last long, though her match took over three hours. 214 00:11:23,240 --> 00:11:26,360 Speaker 1: She lost the third set tidebreaker the harmony. Ton then 215 00:11:26,440 --> 00:11:31,240 Speaker 1: reflected a bit on her brilliant career the game. You 216 00:11:31,280 --> 00:11:34,839 Speaker 1: know something that I never kind of set out to 217 00:11:34,960 --> 00:11:38,880 Speaker 1: do um and then somehow I did it. Somehow I'm 218 00:11:38,960 --> 00:11:42,520 Speaker 1: Serena and it's pretty awesome. Says She's going to play 219 00:11:42,559 --> 00:11:46,160 Speaker 1: the US Open. John stash Award Bloomberg Sports Steven Okay, John, 220 00:11:46,200 --> 00:11:48,280 Speaker 1: thank you. Right now. S and P futures are moving 221 00:11:48,280 --> 00:11:51,040 Speaker 1: a touch lower. They're down five points down, futures down 222 00:11:51,080 --> 00:11:53,400 Speaker 1: six dance that futures down twenty five points as we 223 00:11:53,440 --> 00:11:56,839 Speaker 1: await a very important conversation with three the most important 224 00:11:56,920 --> 00:12:01,080 Speaker 1: central bankers in the world. Francine Lockwab Bloomberg joins us 225 00:12:01,080 --> 00:12:04,400 Speaker 1: next from the ECB Forum in centrop. This is Bloomberg 226 00:12:07,520 --> 00:12:09,320 Speaker 1: and Bloomberg day Break is brought to you by Hofstra 227 00:12:09,440 --> 00:12:12,400 Speaker 1: University's Frank G's r School of Business, tough breaked online 228 00:12:12,480 --> 00:12:15,679 Speaker 1: NBA program with a real world foundation. Learn more at 229 00:12:15,720 --> 00:12:22,960 Speaker 1: Hofstra dot e, d U slash go grad markets, headlines 230 00:12:23,000 --> 00:12:25,960 Speaker 1: and breaking news twenty four hours a day, at Bloomberg 231 00:12:26,040 --> 00:12:29,439 Speaker 1: dot Com, the Bloomberg Business at and at Bloomberg Quick Tape. 232 00:12:29,640 --> 00:12:38,720 Speaker 1: This is a Bloomberg Business slash and I'm Camering Moscow. 233 00:12:38,800 --> 00:12:43,079 Speaker 1: European stocks are dropping on renewed worries about economic growth. 234 00:12:43,160 --> 00:12:45,520 Speaker 1: Is monetary policy Titans and much of the world to 235 00:12:45,559 --> 00:12:49,320 Speaker 1: fight inflation. U Stock Index futures are also lower this morning. 236 00:12:49,720 --> 00:12:53,000 Speaker 1: After a tech led slide for the SMP five yesterday, 237 00:12:53,200 --> 00:12:55,840 Speaker 1: we checked the markets every fifteen minutes throughout the trading day. 238 00:12:55,920 --> 00:12:58,640 Speaker 1: On Bloomberg, I guess and P futures down about e points. 239 00:12:59,000 --> 00:13:02,480 Speaker 1: Now futures they're little change. Nasday features down thirty six. 240 00:13:02,760 --> 00:13:06,040 Speaker 1: The decks in Germany is down one point seven per cent. 241 00:13:06,120 --> 00:13:08,760 Speaker 1: It continues to extend its to coins to ten. Your 242 00:13:08,800 --> 00:13:10,800 Speaker 1: treasury up one thirty second. You have three point was 243 00:13:10,880 --> 00:13:12,960 Speaker 1: six percent, a yield on a two year three point 244 00:13:13,160 --> 00:13:15,880 Speaker 1: nine percent nine Next, Screwed oil is up four tenths 245 00:13:15,920 --> 00:13:17,800 Speaker 1: per cent or forty nine cents at a hundred ten 246 00:13:17,880 --> 00:13:20,800 Speaker 1: dollars twenty six cents a barrel. Comics gold is down 247 00:13:20,840 --> 00:13:23,040 Speaker 1: about two tenths per cent or two dollars eighty cents 248 00:13:23,040 --> 00:13:26,480 Speaker 1: at eighteen eighteen fifty announced. The euro one point oh 249 00:13:26,480 --> 00:13:29,000 Speaker 1: five to zero against the dollar, British pound one point 250 00:13:29,000 --> 00:13:31,200 Speaker 1: to one six nine and the yen one thirty six 251 00:13:31,240 --> 00:13:34,360 Speaker 1: point four four. Bitcoin this morning lower down nine ten 252 00:13:34,520 --> 00:13:37,480 Speaker 1: percent at twenty thousand and sixty dollars. And as a 253 00:13:37,520 --> 00:13:40,040 Speaker 1: Bloomberg Business Flash, now here's Michael Barr with more on 254 00:13:40,160 --> 00:13:42,640 Speaker 1: what's going on around the world. Muggle Karen, thank you 255 00:13:42,720 --> 00:13:45,520 Speaker 1: very much. A former White House aide portrait of violent 256 00:13:45,800 --> 00:13:49,120 Speaker 1: and how to control Donald Trump in his presidency's final weeks, 257 00:13:49,160 --> 00:13:52,320 Speaker 1: saying she was told that he reached for the steering 258 00:13:52,320 --> 00:13:54,760 Speaker 1: wheel and lunged at a Secret Service agent to try 259 00:13:54,800 --> 00:13:57,240 Speaker 1: to stop him from traveling to the Capitol to join 260 00:13:57,280 --> 00:14:01,440 Speaker 1: the last year's insurrectionist mob on January six. Meanwhile, in 261 00:14:01,480 --> 00:14:05,559 Speaker 1: a truth social post, former President Trump says it didn't happen. 262 00:14:05,960 --> 00:14:08,920 Speaker 1: A historic NATO someone is getting underway in Madrid. Finland 263 00:14:09,000 --> 00:14:11,800 Speaker 1: and Sweden are expected to get their invitations to join 264 00:14:11,920 --> 00:14:15,560 Speaker 1: the alliance amid a Russian aggression. In baseball, the Yankees 265 00:14:15,600 --> 00:14:18,120 Speaker 1: beat the A's to one. The Mets lost, along with 266 00:14:18,160 --> 00:14:21,560 Speaker 1: the Red Sox and Orioles, the Nationals and Giants. One 267 00:14:21,960 --> 00:14:24,720 Speaker 1: Global News twenty four hours a day on air and 268 00:14:24,920 --> 00:14:28,000 Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven 269 00:14:28,080 --> 00:14:31,040 Speaker 1: hundred journalist and analysts more than a hundred twenty countries. Um, 270 00:14:31,080 --> 00:14:34,160 Speaker 1: Michael Barr and this is Bloomberg. Nathan all right, Michael, 271 00:14:34,160 --> 00:14:36,440 Speaker 1: thank you. It is six nineteen on Wall Street Live 272 00:14:36,560 --> 00:14:40,560 Speaker 1: from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak 273 00:14:40,600 --> 00:14:43,479 Speaker 1: on the morning, where we're awaiting a very important conversation 274 00:14:43,560 --> 00:14:47,760 Speaker 1: with on a global monetary policy. Federal Reserve Chairman Jerome Powell, 275 00:14:47,840 --> 00:14:51,040 Speaker 1: European Central Bank President Christine Lagarde, and Bakon England Governor 276 00:14:51,080 --> 00:14:53,720 Speaker 1: Andrew Bailey will share a stage later this morning at 277 00:14:53,720 --> 00:14:56,720 Speaker 1: the ECB Forum on Central Banking in the resort city 278 00:14:56,760 --> 00:14:59,960 Speaker 1: of CenTra, Portugal and joining us Now is someone else 279 00:15:00,080 --> 00:15:03,120 Speaker 1: was going to be on the stage with these policy powerhouses. 280 00:15:03,240 --> 00:15:07,320 Speaker 1: Francine la Qua very own editor at large for Bloomberg News, 281 00:15:07,320 --> 00:15:10,680 Speaker 1: co anchor of Bloomberg Surveillance Early edition on Bloomberg Television. 282 00:15:10,960 --> 00:15:13,480 Speaker 1: Francine really appreciate the time, because I know you've been 283 00:15:13,560 --> 00:15:17,200 Speaker 1: very busy with interviews of your own from the ECB Forum, 284 00:15:17,240 --> 00:15:20,320 Speaker 1: but I'm really curious to get a glimpse at least 285 00:15:20,320 --> 00:15:23,240 Speaker 1: of what's on your question list for Powell and company 286 00:15:23,360 --> 00:15:27,280 Speaker 1: this morning. Well, I think everything will be dominated, of 287 00:15:27,280 --> 00:15:30,280 Speaker 1: course by inflation, and we're really trying to understand what 288 00:15:30,680 --> 00:15:33,480 Speaker 1: the economic price that some of these central bankers are 289 00:15:33,480 --> 00:15:35,480 Speaker 1: willing to pay to make sure that the inflation is 290 00:15:35,520 --> 00:15:38,160 Speaker 1: under control. And I just stepped out from a panel 291 00:15:38,160 --> 00:15:40,800 Speaker 1: on inflation. We Handlritt and Mestro on that and she just, 292 00:15:40,960 --> 00:15:43,320 Speaker 1: you know, she mints to know what she basically at 293 00:15:43,320 --> 00:15:45,880 Speaker 1: the US Federal Reserve is just at the beginning of 294 00:15:45,960 --> 00:15:50,000 Speaker 1: raising interest rates to control inflation. And what was extremely 295 00:15:50,040 --> 00:15:53,720 Speaker 1: interesting for me was she started talking about assumptions on 296 00:15:53,840 --> 00:15:56,960 Speaker 1: anchored inflation. Now. I had several conversations, for example, with 297 00:15:57,040 --> 00:16:00,200 Speaker 1: the South African Reserve Bank governor and a couple DC 298 00:16:00,320 --> 00:16:03,880 Speaker 1: Beginning Council members on TV earlier, and there's a different 299 00:16:03,920 --> 00:16:06,040 Speaker 1: perspective if you're an emerging market. So if you're an 300 00:16:06,040 --> 00:16:08,840 Speaker 1: emerging markets you probably would have frontloaded this because you 301 00:16:08,880 --> 00:16:12,480 Speaker 1: saw inflation coming, you saw out of the structural concerns 302 00:16:12,600 --> 00:16:14,960 Speaker 1: out there, and you would have thought that actually the 303 00:16:15,080 --> 00:16:19,400 Speaker 1: worst case scenario is that there's some kind of deflation. Right, 304 00:16:19,480 --> 00:16:22,400 Speaker 1: So they think that dealing with inflation for monetary policy 305 00:16:22,480 --> 00:16:26,160 Speaker 1: consential banks point of view is easier than dealing with 306 00:16:26,200 --> 00:16:28,520 Speaker 1: what you know, the Bank of Japan, for example, has 307 00:16:28,560 --> 00:16:30,400 Speaker 1: to dealing with the last ten years. But then you 308 00:16:30,440 --> 00:16:33,760 Speaker 1: listen to write Amester and she mentioned research and think 309 00:16:33,800 --> 00:16:36,160 Speaker 1: that's more costly for policy makers to be wrong about 310 00:16:36,160 --> 00:16:39,960 Speaker 1: inflation expectations being well anchored when they're not, as opposed 311 00:16:40,000 --> 00:16:42,480 Speaker 1: to aronnings for assuming that they're rising when they're actually 312 00:16:42,480 --> 00:16:44,880 Speaker 1: well anchored. And I think this goes to the debate 313 00:16:45,240 --> 00:16:47,320 Speaker 1: around the world. You know, how do we get to 314 00:16:47,360 --> 00:16:49,760 Speaker 1: a wage spiral If people read about inflation, if they're 315 00:16:49,760 --> 00:16:51,760 Speaker 1: worried about their cost of living, they're going to start 316 00:16:51,800 --> 00:16:55,160 Speaker 1: asking for raises, and this is when central banks could 317 00:16:55,200 --> 00:16:57,720 Speaker 1: actually use control. Yeah, it's very interesting to hear this 318 00:16:57,760 --> 00:17:01,120 Speaker 1: debate moving forward when it comes to in lation expectations 319 00:17:01,120 --> 00:17:03,640 Speaker 1: potentially being anchored. When we think about the type of 320 00:17:03,680 --> 00:17:08,280 Speaker 1: inflation that we're seeing in this global economy that's driven uh, 321 00:17:08,359 --> 00:17:11,080 Speaker 1: not just by the after effects of the pandemic, but 322 00:17:11,160 --> 00:17:14,840 Speaker 1: now a war in Ukraine and supply chain interruptions as well, 323 00:17:14,880 --> 00:17:18,520 Speaker 1: and how much control do central banks have over those 324 00:17:18,640 --> 00:17:24,880 Speaker 1: kinds of UH factors that are outside monetary supply. Yeah, 325 00:17:24,960 --> 00:17:26,800 Speaker 1: and that's a million dollar question. I mean, if you 326 00:17:26,800 --> 00:17:29,960 Speaker 1: look at the current inflation situation is definitely very challenging. 327 00:17:30,359 --> 00:17:32,960 Speaker 1: But again it's different if you're sitting in the UK, 328 00:17:33,320 --> 00:17:36,720 Speaker 1: the Macau. England has the added challenge of Brexit. So 329 00:17:36,760 --> 00:17:40,600 Speaker 1: many people left during COVID. Many people went back home 330 00:17:40,640 --> 00:17:43,640 Speaker 1: to Europe and have not come back, so it's extremely 331 00:17:43,640 --> 00:17:46,960 Speaker 1: difficult to fill jobs, which is why a lot of 332 00:17:47,000 --> 00:17:50,320 Speaker 1: the rising inflation doesn't only come from airline tickets. Like 333 00:17:50,359 --> 00:17:52,720 Speaker 1: we're seeing in Europe. But it comes from people saying, look, 334 00:17:53,040 --> 00:17:55,800 Speaker 1: you want me to hire me, pay me more. And 335 00:17:55,880 --> 00:17:58,399 Speaker 1: so that is a challenge that to bank in England 336 00:17:58,400 --> 00:18:01,080 Speaker 1: has that the FED doesn't. They have a whole other 337 00:18:01,119 --> 00:18:05,240 Speaker 1: set of problems. Um, of course it's different in you 338 00:18:05,280 --> 00:18:07,680 Speaker 1: know where we are in the cycle. Uh, there's been 339 00:18:07,680 --> 00:18:10,040 Speaker 1: this huge scene in the US which she didn't have, 340 00:18:10,560 --> 00:18:14,159 Speaker 1: which must contribute also to inflation expectations. And then I 341 00:18:14,200 --> 00:18:16,480 Speaker 1: was thinking at imposement the peters In Institute and look, 342 00:18:16,720 --> 00:18:20,359 Speaker 1: he was saying the ECB is probably maybe behind the curve, 343 00:18:20,560 --> 00:18:25,159 Speaker 1: but their supply um shocks are really shooting these inflations. 344 00:18:25,200 --> 00:18:28,159 Speaker 1: I remember having conversations with Christine Laguard l September and 345 00:18:28,160 --> 00:18:30,720 Speaker 1: October and they said, yes, there's an inflation problem in 346 00:18:30,800 --> 00:18:32,960 Speaker 1: the less, Yes there's an infituation problem in the UK. 347 00:18:33,440 --> 00:18:36,680 Speaker 1: But she didn't see him coming here in Europe. So 348 00:18:37,200 --> 00:18:39,359 Speaker 1: you know, maybe it makes it easier because they need 349 00:18:39,359 --> 00:18:42,600 Speaker 1: to hike less rates. But it also came a bit 350 00:18:42,640 --> 00:18:45,080 Speaker 1: of a shock because of the word in Ukraine. UM, 351 00:18:45,240 --> 00:18:48,720 Speaker 1: so you know she hadn't preempted that with any hikes 352 00:18:48,760 --> 00:18:52,520 Speaker 1: at all. Fascinating and we're looking forward to many more 353 00:18:52,640 --> 00:18:55,880 Speaker 1: insights in just about two and a half hours or so, 354 00:18:56,520 --> 00:19:00,720 Speaker 1: when Francine Lackroise conversation begins nine am While Street Time 355 00:19:01,119 --> 00:19:04,480 Speaker 1: with the Chairman of the Federal Reserve, Jerome Powell, the 356 00:19:04,520 --> 00:19:07,560 Speaker 1: President of the European Central Bank, Christine Leguard, Governor Andrew 357 00:19:07,560 --> 00:19:10,720 Speaker 1: Bailey the Bank of England, and Augustine Carston's of the 358 00:19:10,760 --> 00:19:14,440 Speaker 1: Bank for International Settlements all joining Francine this morning from 359 00:19:14,440 --> 00:19:17,520 Speaker 1: the ECB Forum in CenTra. Again. Our coverage kicks off 360 00:19:17,680 --> 00:19:20,879 Speaker 1: nine am Wall Street Time right here on Bloomberg Radio. 361 00:19:21,080 --> 00:19:24,080 Speaker 1: You can catch it as well on Bloomberg Television. Again Francine, 362 00:19:24,400 --> 00:19:28,440 Speaker 1: as always, thanks for the time, and UH try to 363 00:19:28,480 --> 00:19:30,240 Speaker 1: get a little rest once all this is over. It 364 00:19:30,240 --> 00:19:33,200 Speaker 1: has been a very busy ECP Forum in Centrome. Looking 365 00:19:33,200 --> 00:19:36,440 Speaker 1: ahead to the market open this morning, UH futures are 366 00:19:36,520 --> 00:19:38,720 Speaker 1: adding to some of their losses. Now we have SMP 367 00:19:38,880 --> 00:19:43,120 Speaker 1: futures now down seven points down, futures down nineteen NASDAC 368 00:19:43,160 --> 00:19:46,639 Speaker 1: futures are lower by thirty six points. Tenure Treasury is 369 00:19:46,800 --> 00:19:49,840 Speaker 1: up one thirty second. The yield three point one six percent. 370 00:19:50,160 --> 00:19:53,640 Speaker 1: The yield on the two year three point one zero percent. 371 00:19:54,160 --> 00:19:56,800 Speaker 1: This red headline just across the Bloomberg terminal. The UK 372 00:19:56,960 --> 00:20:01,800 Speaker 1: has sanctioned Vladimir potent In, former first Prime Minister of Russia, 373 00:20:02,080 --> 00:20:08,640 Speaker 1: one of the Oligarchs. This is Bloomberg Bloomberg eleven three 374 00:20:08,640 --> 00:20:11,080 Speaker 1: oh weather partly the mostly sunny mid eighties for hist 375 00:20:11,119 --> 00:20:15,359 Speaker 1: today could hit ninety tomorrow, low nineties, maybe nine five 376 00:20:15,440 --> 00:20:17,800 Speaker 1: on a sunny and hot start to July. Right now 377 00:20:17,840 --> 00:20:24,200 Speaker 1: sixty six in Central Park, broadcasting live from the Bloomberg 378 00:20:24,280 --> 00:20:27,840 Speaker 1: Interactive Broker studio in New York. Bloomberg Living Free, Go 379 00:20:28,119 --> 00:20:32,240 Speaker 1: to Washington, d C. Bloomberg to Boston, Bloomberg one O 380 00:20:32,480 --> 00:20:35,960 Speaker 1: six one does San Francisco, Bloomberg nine sixty to the country. 381 00:20:36,040 --> 00:20:38,520 Speaker 1: Sirius xm H had a one nine team and around 382 00:20:38,560 --> 00:20:42,480 Speaker 1: the globe of Bloomberg Business app and Bloomberg Radio dot Com. 383 00:20:42,520 --> 00:20:51,120 Speaker 1: This is Bloomberg Daybreak six thirty on Wall Street. Good morning, 384 00:20:51,160 --> 00:20:54,040 Speaker 1: I'm Nathan Hager and I'm Karen Moscow. We are about 385 00:20:54,040 --> 00:20:56,320 Speaker 1: three hours away from the open of US trading. Kind 386 00:20:56,359 --> 00:20:58,040 Speaker 1: to the five things you need to know to start 387 00:20:58,080 --> 00:21:01,520 Speaker 1: your day, Brought to you by Interactive Brokers. Interactive Brokers 388 00:21:01,520 --> 00:21:04,840 Speaker 1: Global Analysts helps you find new global investment opportunities to 389 00:21:04,880 --> 00:21:08,720 Speaker 1: diversify your portfolio and discover undervalued companies that may have 390 00:21:08,800 --> 00:21:12,320 Speaker 1: greater growth potential. Try IBK our Global Analysts today at 391 00:21:12,359 --> 00:21:15,760 Speaker 1: ibkr dot com slash g A. First, we take a 392 00:21:15,800 --> 00:21:18,800 Speaker 1: look at a primary election results in New York. Governor 393 00:21:18,880 --> 00:21:21,840 Speaker 1: Kathy Hokel won the Democratic primary with almost sixty eight 394 00:21:21,840 --> 00:21:24,520 Speaker 1: percent of the vote. She invoked a recent Supreme Court 395 00:21:24,600 --> 00:21:27,520 Speaker 1: rulings in her victory speech, no matter what does the 396 00:21:27,560 --> 00:21:30,640 Speaker 1: pretty part things they can do New Yorkers, you are 397 00:21:30,760 --> 00:21:35,440 Speaker 1: protected protected from tin field weapons, were tecting, were good 398 00:21:35,440 --> 00:21:38,160 Speaker 1: sealed weapons on our subways, in our schools and places 399 00:21:38,240 --> 00:21:42,639 Speaker 1: like this. Governor Kathy Hukel defeated Jamanni Williams and Tom Swawsey. 400 00:21:43,000 --> 00:21:46,320 Speaker 1: Lee Zeldin won the GOP primary for governor with of 401 00:21:46,320 --> 00:21:48,880 Speaker 1: the vote over Andrew Giuliani, the son of former Mayor 402 00:21:48,960 --> 00:21:52,359 Speaker 1: Rudy Giuliani. Sather primaries have no Last night, Karen Republicans 403 00:21:52,359 --> 00:21:55,600 Speaker 1: in Colorado rejected two candidates aligned to former President Trump. 404 00:21:55,680 --> 00:21:58,480 Speaker 1: Tina Peters lost to Pam Anderson for Secretary of State. 405 00:21:58,640 --> 00:22:01,479 Speaker 1: Anderson had forty three percent of the vote. Ron Hanks 406 00:22:01,520 --> 00:22:04,680 Speaker 1: lost the Senate nomination to Joe O'Day he's often acknowledged. 407 00:22:04,720 --> 00:22:09,040 Speaker 1: President Biden one day had fifty four percent of votes. Meantime, 408 00:22:09,119 --> 00:22:11,880 Speaker 1: Nathan Too hard line conservatives came out winners last night, 409 00:22:11,920 --> 00:22:14,480 Speaker 1: and Lauren and Bobird got sixty percent of the vote 410 00:22:14,480 --> 00:22:18,160 Speaker 1: in Colorado's third congressional district. And in Illinois, Republican Mary 411 00:22:18,240 --> 00:22:21,040 Speaker 1: Miller won her House seat primary with fifty seven percent 412 00:22:21,040 --> 00:22:23,879 Speaker 1: of the vote. She called overturning Roe v. Wade quote 413 00:22:23,960 --> 00:22:28,520 Speaker 1: a historic victory for white life. Her spokesperson said she misspoke. 414 00:22:28,800 --> 00:22:32,240 Speaker 1: Turning overseas Karen, Finland and Sweden are closer to NATO membership. 415 00:22:32,240 --> 00:22:34,840 Speaker 1: Turkey agreed to drop its objections to the nation's joining 416 00:22:34,880 --> 00:22:38,200 Speaker 1: the alliance. Well and Market's nathan Us futures are lower 417 00:22:38,240 --> 00:22:40,919 Speaker 1: this morning, as follows yesterday sell off, which saw all 418 00:22:40,960 --> 00:22:44,439 Speaker 1: three major indexes tumble, but well as Fargo equity strategists 419 00:22:44,440 --> 00:22:47,680 Speaker 1: and A. Hans says, there are still positive signs. We're 420 00:22:47,680 --> 00:22:51,600 Speaker 1: not particularly negative on base or financials, but in general, 421 00:22:51,640 --> 00:22:54,879 Speaker 1: I think the cixlicality exposure of our portfolio should start 422 00:22:54,880 --> 00:22:57,920 Speaker 1: picking really where to remove some of that and replace 423 00:22:58,000 --> 00:23:00,840 Speaker 1: it with things that will have good growth, at least 424 00:23:00,880 --> 00:23:03,760 Speaker 1: corporate earnings growth well as Fargos and A Hans said 425 00:23:03,800 --> 00:23:06,280 Speaker 1: the economy could still be headed for a mile recession. 426 00:23:06,480 --> 00:23:09,159 Speaker 1: And later this morning, Karen fed Chair j pal ECB 427 00:23:09,280 --> 00:23:13,080 Speaker 1: President Christine Lagarde, Bank for International Settlement CEO Augustine Carston's 428 00:23:13,080 --> 00:23:15,399 Speaker 1: and Bank of England Governor Andrew Bailey speak at the 429 00:23:15,400 --> 00:23:17,560 Speaker 1: second day of the e c V Forum in Portugal. 430 00:23:17,560 --> 00:23:21,600 Speaker 1: Bloomberg's fancying Law in view All four live on Bloomberg 431 00:23:21,680 --> 00:23:24,560 Speaker 1: Radio and Television at nine am Wall Street Time. And 432 00:23:24,560 --> 00:23:26,520 Speaker 1: that's five things you need to know to start your day. 433 00:23:26,560 --> 00:23:30,320 Speaker 1: Brought to you by Interactive Brokers and straight Ahead. We 434 00:23:30,359 --> 00:23:33,080 Speaker 1: have your local headlines, plus a checkup sports, and this 435 00:23:33,640 --> 00:23:39,960 Speaker 1: is Bloomberg. Thanks Karen. Six thirty three on Wall Street, 436 00:23:39,960 --> 00:23:42,520 Speaker 1: sixty seven degrees in Central Park. Still very slow on 437 00:23:42,600 --> 00:23:44,680 Speaker 1: the Gothels Bridge ramp to the New Jersey Turnpike, though 438 00:23:44,680 --> 00:23:47,800 Speaker 1: they're making progress. Details coming up in traffic First Michael 439 00:23:47,800 --> 00:23:49,560 Speaker 1: Barr with what else is going on in New York 440 00:23:49,560 --> 00:23:51,879 Speaker 1: and around the world. Michael, thank you very much, Nathan. 441 00:23:51,880 --> 00:23:54,400 Speaker 1: While Governor Hokel and Lee's held En will square off 442 00:23:54,400 --> 00:23:57,359 Speaker 1: in the fall, other primary contests were settled in New York. 443 00:23:57,720 --> 00:24:02,760 Speaker 1: Democrat Anthony Delgado one for lou Tenant governor, with Tuesday's 444 00:24:02,800 --> 00:24:06,560 Speaker 1: election in New York covered statewide offices and state Assembly races, 445 00:24:06,640 --> 00:24:09,760 Speaker 1: but primary elections for US House seats and the state 446 00:24:09,840 --> 00:24:13,680 Speaker 1: Senate will be held August. Meanwhile, as we've mentioned, Andrew 447 00:24:13,720 --> 00:24:16,080 Speaker 1: Giuliani came up short in his run for the GOP 448 00:24:16,240 --> 00:24:20,480 Speaker 1: nomination for governor. And I want to thank somebody who 449 00:24:21,200 --> 00:24:24,240 Speaker 1: I love with all my heart, America's Mayor Rudy Giuliani. 450 00:24:26,520 --> 00:24:29,960 Speaker 1: Former Mayor Rudy Giuliani helped campaign for his son, but 451 00:24:30,119 --> 00:24:32,399 Speaker 1: on Sunday, he claimed that he was assaulted by a 452 00:24:32,440 --> 00:24:36,360 Speaker 1: heckler at a Staten Island supermarket. However, current Mayor Eric 453 00:24:36,400 --> 00:24:40,119 Speaker 1: Adams suggested that Rudy Giuliani be investigative for filing a 454 00:24:40,160 --> 00:24:43,120 Speaker 1: false police report. Adam says, when you look at the video, 455 00:24:43,200 --> 00:24:45,840 Speaker 1: the guy basically walked by and patted him on the back, 456 00:24:46,080 --> 00:24:49,760 Speaker 1: and that's when Giuliani shot back, he is an idiot 457 00:24:50,200 --> 00:24:53,479 Speaker 1: because I didn't file a report. Can you imagine that 458 00:24:53,920 --> 00:24:56,520 Speaker 1: he watched to prosecute me for filing a false report 459 00:24:56,560 --> 00:25:00,760 Speaker 1: I didn't file. His police department filed the report. Juliani, 460 00:25:00,800 --> 00:25:03,640 Speaker 1: who was seventy eight earlier said the backslap was as 461 00:25:03,680 --> 00:25:07,480 Speaker 1: if a boulder hit me. New York Democratic Congresswoman Alexandria 462 00:25:07,520 --> 00:25:11,440 Speaker 1: Ocasio Cortez is reacting to shocking testimony from an aid 463 00:25:11,520 --> 00:25:14,360 Speaker 1: to former White House Chief of Staff Mark Meadows, who 464 00:25:14,400 --> 00:25:17,320 Speaker 1: testified before the January six penel. She spoke on the 465 00:25:17,320 --> 00:25:20,600 Speaker 1: CBS Late Show with Stephen Colbert. I do believe that 466 00:25:20,800 --> 00:25:23,040 Speaker 1: many of these individuals need to be prosecuted to the 467 00:25:23,080 --> 00:25:25,840 Speaker 1: fullest extent of the law in order to establish and 468 00:25:25,880 --> 00:25:28,760 Speaker 1: to prove to ourselves and to the world that there 469 00:25:29,000 --> 00:25:31,840 Speaker 1: is rule of law in the United States of the 470 00:25:31,880 --> 00:25:36,399 Speaker 1: Congresswoman o'cascio Cortez. Former socialite GALAINN. Maxwell was sentenced the 471 00:25:36,400 --> 00:25:39,200 Speaker 1: twenty years in prison for her role in helping Jeffrey 472 00:25:39,200 --> 00:25:43,399 Speaker 1: Epstein sexually abused underage girls. Prosecutors say Epstein would have 473 00:25:43,440 --> 00:25:46,879 Speaker 1: been unable to exploit girls as young as fourteen without 474 00:25:46,920 --> 00:25:50,520 Speaker 1: the help of his longtime companion Maxwell. Maxwell addressed the 475 00:25:50,560 --> 00:25:53,720 Speaker 1: court saying that her association with Epstein was the greatest 476 00:25:53,760 --> 00:25:56,280 Speaker 1: regret of her life and that she hoped her conviction 477 00:25:56,320 --> 00:25:59,479 Speaker 1: would bring the victims some peace. R and b artists 478 00:25:59,560 --> 00:26:03,440 Speaker 1: R Kelly faces sentencing today in Brooklyn Federal Court after 479 00:26:03,480 --> 00:26:06,440 Speaker 1: he was convicted last year of racketeering. Prosecutors of as 480 00:26:06,440 --> 00:26:10,080 Speaker 1: force sentence and excess of twenty five years. Global News 481 00:26:10,080 --> 00:26:13,160 Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake, 482 00:26:13,160 --> 00:26:16,479 Speaker 1: powered by more than twenty journalist and analysts more than 483 00:26:16,480 --> 00:26:20,639 Speaker 1: a hundred twenty countries. Michael bar and this is Bloomberg, Nathan, 484 00:26:20,880 --> 00:26:28,359 Speaker 1: Thank you, Michael, Almost six thirty six on Wall Street. 485 00:26:28,400 --> 00:26:31,359 Speaker 1: John Stash hours here at the Bloomberg Sports Updates. All right, Nathan. 486 00:26:31,400 --> 00:26:33,600 Speaker 1: Even when the Yankees decided to give their starting pitchers 487 00:26:33,640 --> 00:26:35,760 Speaker 1: an extra day off and call up a rookie from 488 00:26:35,800 --> 00:26:39,560 Speaker 1: the minors, he excels. Twenty six year old JP Sears, 489 00:26:39,600 --> 00:26:42,320 Speaker 1: once an eleventh round draft pick by Seattle in Preston 490 00:26:42,400 --> 00:26:44,480 Speaker 1: spring training, made the team and then got sent down. 491 00:26:44,480 --> 00:26:46,800 Speaker 1: And he's pitched to an e r A under two 492 00:26:46,920 --> 00:26:50,159 Speaker 1: for Stranton and two Yankee starts he has not allowed 493 00:26:50,160 --> 00:26:52,199 Speaker 1: to ron Yanks with two early runs that held up. 494 00:26:52,240 --> 00:26:55,760 Speaker 1: They topped Oakland two to one. Here's Aaron Boone on Sears. 495 00:26:56,080 --> 00:26:58,560 Speaker 1: Huge step up outing by him. He's he's having a 496 00:26:58,560 --> 00:27:01,520 Speaker 1: great season all round, and he's and he's done it 497 00:27:01,600 --> 00:27:04,520 Speaker 1: every opportunity he's gotten up here, so great job by 498 00:27:04,560 --> 00:27:07,160 Speaker 1: j P. Sers has made some Yankee history, wearing number 499 00:27:07,240 --> 00:27:10,479 Speaker 1: ninety two. That's the highest ever warned by a starting pitcher. 500 00:27:10,520 --> 00:27:13,520 Speaker 1: The Yanks bring their fifty five and twenty record into 501 00:27:13,520 --> 00:27:16,359 Speaker 1: a day game today. The Mets never in edit City Field. 502 00:27:16,359 --> 00:27:18,639 Speaker 1: Houston got a Kyle Tufter a three ring homer first inning. 503 00:27:18,920 --> 00:27:20,879 Speaker 1: They hit two more homers in the fifth, and the 504 00:27:20,880 --> 00:27:23,720 Speaker 1: Astros one nine to one in Atlanta one and the 505 00:27:23,720 --> 00:27:25,840 Speaker 1: Braves are not only four games behind. The Knicks have 506 00:27:25,920 --> 00:27:28,560 Speaker 1: been searching for a quality point guard for a long time, 507 00:27:28,560 --> 00:27:32,560 Speaker 1: and multiple reports they will sign Jalen Brunson away from Dallas, 508 00:27:32,600 --> 00:27:35,040 Speaker 1: perhaps as early as tomorrow night, when free agency begins. 509 00:27:35,480 --> 00:27:38,080 Speaker 1: Brunson's father once played for the Knicks, and Rick Brunson 510 00:27:38,240 --> 00:27:40,920 Speaker 1: was just hired as a Knicks assistant coach. Nicks just 511 00:27:41,000 --> 00:27:44,440 Speaker 1: traded Alec Berks and Netherlands Noel to Detroit to clear 512 00:27:44,520 --> 00:27:46,840 Speaker 1: more salary cap space. The Utah Jazz said to have 513 00:27:46,880 --> 00:27:49,640 Speaker 1: their new coach, thirty four year old will Hardy, who's 514 00:27:49,640 --> 00:27:52,159 Speaker 1: been an assistant in Boston before. That name was with 515 00:27:52,200 --> 00:27:55,440 Speaker 1: San Antonio Serena. Williams ousted opening around at Wimbledon lost 516 00:27:55,440 --> 00:27:58,359 Speaker 1: the third set tiebreaker on center court. Today it's the 517 00:27:58,359 --> 00:28:01,400 Speaker 1: hard serving American John Isner taking on one time Wimbledon 518 00:28:01,520 --> 00:28:07,320 Speaker 1: champ Andy Murder. John Bloomberg Sports. Thanks John on Wall Street. 519 00:28:07,320 --> 00:28:08,639 Speaker 1: Time to take a look at stock some of the 520 00:28:08,720 --> 00:28:11,760 Speaker 1: names moving in the pre market. Bloomberg Radio and TV 521 00:28:11,880 --> 00:28:15,160 Speaker 1: Markets correspondent Createy Gupta is with us and look at 522 00:28:15,160 --> 00:28:18,680 Speaker 1: this created starting off a pre market report with Tesla. 523 00:28:18,880 --> 00:28:20,679 Speaker 1: I know it's such a rare occurrence, isn't And I'm 524 00:28:20,720 --> 00:28:24,840 Speaker 1: really taking s l a focus. Is your taker here 525 00:28:25,080 --> 00:28:27,959 Speaker 1: down about one point six percent. This comes actually off 526 00:28:28,040 --> 00:28:31,240 Speaker 1: a Bloomberg scoop by very On, Ed Ludlow and Donna Hole. 527 00:28:31,400 --> 00:28:34,679 Speaker 1: Tesla laying off about two hundred autopilot workers. This is 528 00:28:34,680 --> 00:28:37,000 Speaker 1: important that most of them are hourly. And remember this 529 00:28:37,080 --> 00:28:39,560 Speaker 1: follows a lot of the conversation that Elon Musk had 530 00:28:39,640 --> 00:28:41,760 Speaker 1: had about whether or not he was actually going to 531 00:28:41,840 --> 00:28:44,520 Speaker 1: lay off about ten percent of his workforce, I believe 532 00:28:44,560 --> 00:28:46,880 Speaker 1: is what he tweeted at one point. What was reported 533 00:28:46,880 --> 00:28:48,840 Speaker 1: he then going back and said, well, actually, no, we're 534 00:28:48,840 --> 00:28:51,760 Speaker 1: not going to do ten percent. That's unreasonable. Uh. And 535 00:28:51,800 --> 00:28:54,120 Speaker 1: of course this is also coming in the wake of 536 00:28:54,200 --> 00:28:56,920 Speaker 1: the potential deal with Twitter, which is still on pause 537 00:28:57,000 --> 00:28:59,640 Speaker 1: by the way, So essentially what happens with Tesla is 538 00:28:59,680 --> 00:29:03,320 Speaker 1: all most seen as maybe a precursor, as a harbinger 539 00:29:03,360 --> 00:29:05,200 Speaker 1: of some sorts of what might just happen with Twitter, 540 00:29:05,240 --> 00:29:07,320 Speaker 1: at least when it comes to salaries and when it 541 00:29:07,320 --> 00:29:10,560 Speaker 1: comes to hiring in the face of a potential recession risk. 542 00:29:10,600 --> 00:29:12,920 Speaker 1: So that scooped t s l A down about one 543 00:29:12,920 --> 00:29:15,400 Speaker 1: point six percent. Let's stick with those ev makers here 544 00:29:15,400 --> 00:29:18,080 Speaker 1: and look at Neo because Nio is your taker, down 545 00:29:18,080 --> 00:29:21,040 Speaker 1: about seven point three percent. This comes after the short 546 00:29:21,040 --> 00:29:24,840 Speaker 1: seller Grizzly Research published a report alleging that the electric 547 00:29:24,880 --> 00:29:28,200 Speaker 1: car maker used battery sales to a related party to 548 00:29:28,320 --> 00:29:31,520 Speaker 1: inflate revenue and boost net income margins. Of course, the 549 00:29:31,520 --> 00:29:34,440 Speaker 1: company did reject those claims. Nevertheless, it is still doing 550 00:29:34,480 --> 00:29:36,200 Speaker 1: the damage in the pre market this morning, and I 551 00:29:36,280 --> 00:29:39,840 Speaker 1: owe Nathan down seven. Now we're seeing some big damage 552 00:29:39,840 --> 00:29:43,240 Speaker 1: in terms of the value price of a cruise line 553 00:29:43,480 --> 00:29:46,920 Speaker 1: as we think about getting out of the pandemic, maybe 554 00:29:47,000 --> 00:29:50,520 Speaker 1: taking a vacation this summer. Well, the concern here is 555 00:29:50,520 --> 00:29:53,360 Speaker 1: that what if you get another massive demand shock, what 556 00:29:53,400 --> 00:29:55,160 Speaker 1: if you get another variant, what if you have that 557 00:29:55,200 --> 00:29:58,360 Speaker 1: recession risk, and that's exactly what Morgan Stanley analysts are 558 00:29:58,400 --> 00:30:00,800 Speaker 1: warning about this morning when it comes to Carnival Cruise 559 00:30:00,800 --> 00:30:02,880 Speaker 1: Line c c L is your Taker. Of course, there 560 00:30:03,000 --> 00:30:04,960 Speaker 1: is that rebound. What they're saying, well, the risks here 561 00:30:05,200 --> 00:30:07,800 Speaker 1: are still quite high in terms of the macro economic 562 00:30:07,880 --> 00:30:10,840 Speaker 1: shocks that you might get. That note seeking the stocks 563 00:30:10,880 --> 00:30:13,200 Speaker 1: this morning down about eight point four percent, So well, 564 00:30:13,200 --> 00:30:15,840 Speaker 1: of course, see if we do get that demand shock. 565 00:30:15,920 --> 00:30:17,800 Speaker 1: But let's also talk about the tech story, because as 566 00:30:17,840 --> 00:30:19,320 Speaker 1: we talked about demand, tech can kind of be a 567 00:30:19,360 --> 00:30:22,160 Speaker 1: little bit of a haven. So can social media companies, 568 00:30:22,200 --> 00:30:25,320 Speaker 1: even though they are kind of exposed to that cyclical nature, 569 00:30:25,360 --> 00:30:27,239 Speaker 1: to that demand story. And for that, let's look at 570 00:30:27,240 --> 00:30:30,040 Speaker 1: Pinterest here. P I n s A is Your Taker 571 00:30:30,160 --> 00:30:32,680 Speaker 1: is actually an upside story this morning up three point 572 00:30:32,760 --> 00:30:35,600 Speaker 1: seven percent, Nathan. This comes as the company's co founder 573 00:30:35,720 --> 00:30:39,080 Speaker 1: and CEO Ben Silverman hamps the reins to Google and 574 00:30:39,080 --> 00:30:41,840 Speaker 1: PayPal veteran Bill Ready and they signed the social media 575 00:30:41,880 --> 00:30:44,760 Speaker 1: company will focus more on e commerce. That's a big 576 00:30:44,800 --> 00:30:46,600 Speaker 1: deal when it comes to how a lot of these 577 00:30:46,600 --> 00:30:49,840 Speaker 1: social media names, Twitter included can actually monetize some of 578 00:30:49,840 --> 00:30:52,520 Speaker 1: their platform interesting to see a tech name moving higher 579 00:30:52,520 --> 00:30:56,160 Speaker 1: when we've seen so many losses for the tech heavy 580 00:30:56,400 --> 00:31:00,200 Speaker 1: NASTAC index over the last few days. Pret Guftamberg on 581 00:31:00,200 --> 00:31:03,200 Speaker 1: TV Markets correspondent with us this morning in the pre market, 582 00:31:03,520 --> 00:31:06,680 Speaker 1: looking ahead to the open, Futures are moving lower. SMP 583 00:31:06,840 --> 00:31:10,880 Speaker 1: futures down six point, STAFF futures down eighteen NASDAC futures 584 00:31:10,920 --> 00:31:13,960 Speaker 1: down twenty eight points. The tenure treasury yield right now 585 00:31:14,000 --> 00:31:18,040 Speaker 1: three point one six per cent. You're listening to Bloomberg 586 00:31:18,160 --> 00:31:24,640 Speaker 1: Daybreak Bloomberg eleven three oh weather sunshine at a high 587 00:31:24,640 --> 00:31:27,200 Speaker 1: near eighty five today will wrap up the month of 588 00:31:27,280 --> 00:31:29,760 Speaker 1: June with a high ner ninety degrees. Get even hotter 589 00:31:30,360 --> 00:31:33,480 Speaker 1: as we kick off July Friday. High and your right 590 00:31:33,480 --> 00:31:38,840 Speaker 1: now sixty six in Central Park Markets, headlines and breaking 591 00:31:38,840 --> 00:31:41,760 Speaker 1: news twenty four hours a day at Bloomberg dot Com, 592 00:31:41,880 --> 00:31:45,440 Speaker 1: The Bloomberg Business at Hand at Bloomberg Quicktake. He's He's 593 00:31:45,440 --> 00:31:54,680 Speaker 1: a Bloomberg business flash and I'm Karen Moscow. US stock 594 00:31:54,680 --> 00:31:59,120 Speaker 1: index futures are moving lower this morning following yesterday's sell off, 595 00:31:59,160 --> 00:32:00,920 Speaker 1: and we go to the first and breaking news dance 596 00:32:01,040 --> 00:32:04,120 Speaker 1: for today's Marine Carl. Here's the Maloney Bill Good morning 597 00:32:05,080 --> 00:32:07,560 Speaker 1: and good morning, Karen. That's right. Modest losses in the 598 00:32:07,600 --> 00:32:09,560 Speaker 1: U S futures right now at down futures down thirty 599 00:32:09,640 --> 00:32:12,440 Speaker 1: four point, says apes drop eleven one, nest that futures 600 00:32:12,440 --> 00:32:15,080 Speaker 1: are off by fifty the US ten year old at 601 00:32:15,080 --> 00:32:18,320 Speaker 1: three point one six percent, Gold is little, chain oil 602 00:32:18,360 --> 00:32:22,400 Speaker 1: trading higher, and Bitcoin is lower by one percent. Shanghai 603 00:32:22,480 --> 00:32:25,160 Speaker 1: dropped one point four percent overnight, while up markets are 604 00:32:25,200 --> 00:32:27,560 Speaker 1: firmly in the red this morning, led by two percent 605 00:32:27,640 --> 00:32:30,520 Speaker 1: losses in Germany. Back in the US on the Economic 606 00:32:30,560 --> 00:32:32,760 Speaker 1: Frinday thirty U s q N A G d P 607 00:32:33,400 --> 00:32:36,400 Speaker 1: and after the bellast night, Disney extended the contract of 608 00:32:36,480 --> 00:32:39,760 Speaker 1: CEO Bob CHPEC for three years. Regarding earnings this morning, 609 00:32:39,800 --> 00:32:43,520 Speaker 1: McCormick missed estimates. Also look for general mills and paychecks 610 00:32:43,520 --> 00:32:46,720 Speaker 1: to report in the pre market. Another news mestrs says 611 00:32:46,720 --> 00:32:49,760 Speaker 1: the Fed is just at the beginning of raising US rates, 612 00:32:50,000 --> 00:32:53,160 Speaker 1: and JP Morgan cut earnings estimates across the board in 613 00:32:53,240 --> 00:32:56,160 Speaker 1: big text stocks. Wrapping things up, Altria was cut to 614 00:32:56,240 --> 00:32:59,680 Speaker 1: underweight at Barkley's zero price cut to underperform over at 615 00:32:59,720 --> 00:33:03,080 Speaker 1: keep w Live from the first breaking news sscom Bill 616 00:33:03,080 --> 00:33:05,360 Speaker 1: Maloney k alright, Bill, thank you to hear live breaking 617 00:33:05,440 --> 00:33:08,600 Speaker 1: news of your Bloomberg type squawk on your terminal, s U, U, A, 618 00:33:08,840 --> 00:33:11,160 Speaker 1: w K and s A Bloomberg Business Flash. Now here's 619 00:33:11,200 --> 00:33:13,720 Speaker 1: Michael Barr with more on what's going on around the world. 620 00:33:13,800 --> 00:33:17,080 Speaker 1: Michael Karen, thank you very much. Explosive testimony and yesterday's 621 00:33:17,120 --> 00:33:20,480 Speaker 1: hearing on the January six Attech on the Capitol, Former 622 00:33:20,480 --> 00:33:24,120 Speaker 1: White House aide Cassidy Hutchinson testified that the former president 623 00:33:24,160 --> 00:33:26,400 Speaker 1: wanted to join the crowd at the Capitol but was 624 00:33:26,520 --> 00:33:30,640 Speaker 1: refused by his security. The tail NATO leaders a meeting 625 00:33:30,640 --> 00:33:34,640 Speaker 1: in Madrid amid what Secretary General Yen Stoltenberg calls the 626 00:33:34,680 --> 00:33:39,160 Speaker 1: most serious security crisis we faced since the Second World War. 627 00:33:39,640 --> 00:33:42,920 Speaker 1: Russia's invasion of Ukraine has shattered Europe's peace and driven 628 00:33:43,000 --> 00:33:46,880 Speaker 1: NATO to pour troops and weapons into Eastern Europe. In baseball, 629 00:33:46,920 --> 00:33:49,560 Speaker 1: the Yankees beat the A's to one. The Mets lost 630 00:33:49,560 --> 00:33:52,440 Speaker 1: along with the Red Sox and Orioles. The Nationals and 631 00:33:52,480 --> 00:33:55,360 Speaker 1: Giants won Global news twenty four hours a day on 632 00:33:55,480 --> 00:33:58,360 Speaker 1: air and on Bloomberg Quick Take, powered by more than 633 00:33:59,040 --> 00:34:02,880 Speaker 1: hundred journalist man US countries. I'm Michael Barr and this 634 00:34:03,000 --> 00:34:06,120 Speaker 1: is Bloomberg Karron. Alright, Michael, thank you. Sixty nine on 635 00:34:06,160 --> 00:34:09,120 Speaker 1: Wall Street returned to News and Science and Technology Now 636 00:34:09,120 --> 00:34:11,959 Speaker 1: with a Bloomberg and j I T Stem Report, brought 637 00:34:12,000 --> 00:34:14,560 Speaker 1: to you by New Jersey Institute of Technology and j 638 00:34:14,719 --> 00:34:17,480 Speaker 1: I T is dedicated to bolstering support for female and 639 00:34:17,480 --> 00:34:21,520 Speaker 1: minority students pursuing careers and high paying STEM industries. Learn 640 00:34:21,560 --> 00:34:23,440 Speaker 1: more at n j I T dot E d U 641 00:34:23,880 --> 00:34:26,880 Speaker 1: and now Here's what's making news and science, Technology, Engineering, 642 00:34:26,920 --> 00:34:31,000 Speaker 1: and MATH. US regulatory advisor say COVID shots from Fiser 643 00:34:31,040 --> 00:34:34,240 Speaker 1: and Maderna should be updated to include components that target 644 00:34:34,280 --> 00:34:37,840 Speaker 1: the highly transmissible omicron variant. That's the version of the 645 00:34:37,920 --> 00:34:40,640 Speaker 1: virus that causes most of the world's cases. Members of 646 00:34:40,719 --> 00:34:44,120 Speaker 1: the panel that advised the FDA voted nineteen to two 647 00:34:44,320 --> 00:34:47,760 Speaker 1: Tuesday in favor of recommending adding an omicron specific element 648 00:34:47,800 --> 00:34:50,280 Speaker 1: to the shots. The FDA does not have to follow 649 00:34:50,320 --> 00:34:54,880 Speaker 1: the recommendations, but it usually does. Chinese President Chijin Pang 650 00:34:54,880 --> 00:34:57,360 Speaker 1: said the COVID zero policy is the most economic and 651 00:34:57,360 --> 00:34:59,920 Speaker 1: effective for China, and the country is capable of its 652 00:35:00,040 --> 00:35:02,480 Speaker 1: eaving the goal of stamping out infection. He made the 653 00:35:02,520 --> 00:35:05,360 Speaker 1: comments supported by state media on a visit to Wilham, 654 00:35:05,360 --> 00:35:08,960 Speaker 1: this city where the virus first emerged in late and 655 00:35:09,000 --> 00:35:12,000 Speaker 1: the European Union is effectively heralding the end of the 656 00:35:12,120 --> 00:35:16,160 Speaker 1: era of internal combustion engines. EU members have endorsed a 657 00:35:16,200 --> 00:35:20,440 Speaker 1: push to eliminate carbon emissions from new cars by environment 658 00:35:20,480 --> 00:35:23,360 Speaker 1: ministers struck a deal after Italy, the home of Ferrari 659 00:35:23,400 --> 00:35:27,320 Speaker 1: and Lamborghini supercars, gave up demands for a five year delay, 660 00:35:27,680 --> 00:35:30,120 Speaker 1: and as a Bloomberg and j I t Stem report, 661 00:35:30,239 --> 00:35:32,839 Speaker 1: Nathan all right, Karen, thank you. We are live from 662 00:35:32,840 --> 00:35:35,800 Speaker 1: the Bloomberg Interactive Brokers studios where it's almost six fifty 663 00:35:35,880 --> 00:35:38,359 Speaker 1: one on Wall Street. Now it's time to check what's 664 00:35:38,400 --> 00:35:40,480 Speaker 1: going on in d C. Some of the top stories 665 00:35:40,520 --> 00:35:43,279 Speaker 1: in our nation's capital include that vivid testimony from a 666 00:35:43,320 --> 00:35:46,600 Speaker 1: former White House aid about former President Trump's rage on 667 00:35:46,719 --> 00:35:50,200 Speaker 1: January six, Jenny Thomas, the wife of Supreme Court Justice 668 00:35:50,239 --> 00:35:53,959 Speaker 1: Clarence Thomas, declining to testify before the House January sixth 669 00:35:53,960 --> 00:35:57,640 Speaker 1: Panel and Primary Elections attested former President Trump's hold on 670 00:35:57,640 --> 00:36:01,520 Speaker 1: the GOP and abortion rights as an issue for primary voters. 671 00:36:01,520 --> 00:36:05,600 Speaker 1: Bloomberg Government reporter Emily Wilkins joins US Live this morning 672 00:36:05,640 --> 00:36:11,080 Speaker 1: after the surprise hearing on Capitol Hill. Emily, it might 673 00:36:11,120 --> 00:36:12,799 Speaker 1: be a little bit tough to pick out even one 674 00:36:12,920 --> 00:36:17,040 Speaker 1: or two portions of Cassidy Hutchinson's testimony that stood out. 675 00:36:17,080 --> 00:36:21,560 Speaker 1: There was a lot that she had to say. It 676 00:36:21,640 --> 00:36:23,880 Speaker 1: was Nathan and it was I think really the first 677 00:36:23,880 --> 00:36:27,960 Speaker 1: time that we've heard in vivid detail a TikTok of 678 00:36:28,239 --> 00:36:32,600 Speaker 1: what Trump uh did, said, and how he behaved on 679 00:36:32,920 --> 00:36:37,120 Speaker 1: January six from someone who was very close to the president, 680 00:36:37,600 --> 00:36:41,040 Speaker 1: both in terms of proximity and simply in terms of 681 00:36:41,080 --> 00:36:44,080 Speaker 1: being in the room frequently with his chief of staff 682 00:36:44,160 --> 00:36:47,920 Speaker 1: Mark Meadows. Uh. One of the big things that that 683 00:36:48,040 --> 00:36:51,960 Speaker 1: we heard yesterday, UM, was that Trump when he initially 684 00:36:52,040 --> 00:36:54,239 Speaker 1: spoke at the rally that was closer to the White 685 00:36:54,280 --> 00:36:56,479 Speaker 1: House in the Capitol, he was told that a number 686 00:36:56,640 --> 00:37:00,480 Speaker 1: of people in the crowd had weapons, and he's Trump 687 00:37:00,520 --> 00:37:03,280 Speaker 1: asked that mag Thompers be taken down, that the folks 688 00:37:03,280 --> 00:37:06,680 Speaker 1: with weapons be led into the rally space, saying, quote, 689 00:37:06,719 --> 00:37:10,480 Speaker 1: they're not here to hurt me. Um. And of course 690 00:37:10,920 --> 00:37:16,320 Speaker 1: that was a very very impactful testimony. Um. There's also 691 00:37:16,480 --> 00:37:19,560 Speaker 1: Hudgenson also said at this point that there was a 692 00:37:19,680 --> 00:37:22,239 Speaker 1: time where when Trump was told he wasn't taken to 693 00:37:22,320 --> 00:37:24,280 Speaker 1: the camp, when he didn't want to go to the Capitol, 694 00:37:24,960 --> 00:37:27,440 Speaker 1: when the Secret Service rather would not take him to 695 00:37:27,520 --> 00:37:31,240 Speaker 1: the capital, that he actually lunched for the steering wheel 696 00:37:31,680 --> 00:37:35,120 Speaker 1: of the vehicle tried to push past the Secret Service agents. 697 00:37:35,400 --> 00:37:38,239 Speaker 1: Although at this point we are now hearing from the 698 00:37:38,360 --> 00:37:42,040 Speaker 1: Secret Service, and we're hearing reporting saying that these agents 699 00:37:42,080 --> 00:37:44,520 Speaker 1: are refuting that account. So I think there's a lot 700 00:37:44,560 --> 00:37:47,200 Speaker 1: of questions right now about exactly what's going to happen 701 00:37:47,239 --> 00:37:50,839 Speaker 1: with this testimony. I think for some people, they're they're 702 00:37:51,360 --> 00:37:55,480 Speaker 1: hearing the uh. Other individuals pushed back, but of course 703 00:37:55,719 --> 00:37:57,879 Speaker 1: no one at this point has said they're going to 704 00:37:57,920 --> 00:38:00,600 Speaker 1: swear an oath, sit down with the committe and say 705 00:38:00,600 --> 00:38:04,040 Speaker 1: it on the record. Um. And certainly yesterday's hearing ended 706 00:38:04,120 --> 00:38:08,000 Speaker 1: with the chairman, Benny thomp said, inviting anyone who did 707 00:38:08,040 --> 00:38:10,840 Speaker 1: have more information for the committee to come forward. And 708 00:38:10,960 --> 00:38:15,280 Speaker 1: we've had heard some reaction as well from former President Trump. 709 00:38:15,320 --> 00:38:19,040 Speaker 1: He posted quite a bit on his truth social platform 710 00:38:19,320 --> 00:38:23,040 Speaker 1: saying that he denies that he lunged at the Secret 711 00:38:23,080 --> 00:38:26,200 Speaker 1: Service agent from the limo. He says that Cassidy Hutchinson 712 00:38:26,320 --> 00:38:29,120 Speaker 1: is a disgruntled former employee who applied for a job 713 00:38:29,160 --> 00:38:32,600 Speaker 1: in Florida and was turned down. What could that potentially 714 00:38:32,640 --> 00:38:40,000 Speaker 1: mean in terms of her credibility her testimony being seen 715 00:38:40,480 --> 00:38:44,440 Speaker 1: by voters. Well, I don't think it's very surprising that 716 00:38:44,440 --> 00:38:46,719 Speaker 1: that Trump is trying to Trump and his allies are 717 00:38:46,719 --> 00:38:51,040 Speaker 1: trying to discredit and downplay this testimony. Um. Certainly they 718 00:38:51,120 --> 00:38:55,080 Speaker 1: know that these January six hearings have had a big impact. Uh. 719 00:38:55,239 --> 00:38:57,840 Speaker 1: We have recording that Trump has been watching the hearings. 720 00:38:58,000 --> 00:39:00,360 Speaker 1: And just to be clear, it was Bloomberg that actually 721 00:39:00,360 --> 00:39:03,399 Speaker 1: reported that Casey Hutchins said was one of several White 722 00:39:03,480 --> 00:39:06,920 Speaker 1: House aids who are hoping to go tomorrow Lago with Trump. 723 00:39:07,080 --> 00:39:09,480 Speaker 1: So that is that's that's that is our own reporting 724 00:39:09,520 --> 00:39:12,439 Speaker 1: from from our White House really award winning fantastic White 725 00:39:12,480 --> 00:39:14,640 Speaker 1: House team. UM. And I think it just sort of 726 00:39:14,640 --> 00:39:17,640 Speaker 1: adds a question mark, uh into it. But at the 727 00:39:17,719 --> 00:39:21,680 Speaker 1: same point, it was such a vivid testimony, um. And 728 00:39:21,719 --> 00:39:24,200 Speaker 1: it was such great detail, and it's been a part 729 00:39:24,280 --> 00:39:27,399 Speaker 1: of these very well orchestrated hearings that have very much 730 00:39:27,719 --> 00:39:31,640 Speaker 1: I had a mind to ensuring that Americans really have 731 00:39:31,760 --> 00:39:34,879 Speaker 1: the full narrative of what happened not just on January six, 732 00:39:34,920 --> 00:39:36,840 Speaker 1: but in the days leading up to it. So I 733 00:39:36,840 --> 00:39:39,160 Speaker 1: think we're gonna still see how it shakes out. Obviously, 734 00:39:39,280 --> 00:39:42,320 Speaker 1: we have more hearings, at least two coming in July, 735 00:39:42,840 --> 00:39:45,200 Speaker 1: and then we have the committee's report and the committee, 736 00:39:45,239 --> 00:39:47,439 Speaker 1: if you'll remember, they were going to meet more this week, 737 00:39:47,480 --> 00:39:49,680 Speaker 1: but they pushed it back because they were getting more 738 00:39:49,719 --> 00:39:53,000 Speaker 1: new information. So we'll see what other twists and turns 739 00:39:53,040 --> 00:39:56,080 Speaker 1: are ahead as more people speak to the committee, UH, 740 00:39:56,080 --> 00:39:58,279 Speaker 1: and they continue their work. Now, we did have one 741 00:39:58,280 --> 00:40:00,839 Speaker 1: other twist and turn overnight when he got a late 742 00:40:00,840 --> 00:40:04,880 Speaker 1: word that Supreme Court Justice Clarence Thomas's wife Jenny is 743 00:40:04,960 --> 00:40:10,080 Speaker 1: declining an invitation to testify before the committee. Right, and 744 00:40:10,080 --> 00:40:13,920 Speaker 1: remember that request came after email service from Trump's lawyer 745 00:40:14,000 --> 00:40:19,760 Speaker 1: John Eastman UH and Jenny Thomas discussing UH efforts UM 746 00:40:19,880 --> 00:40:24,280 Speaker 1: to potentially overturned the election. UH. This is, of course, 747 00:40:24,640 --> 00:40:30,000 Speaker 1: UM more extensive than we previously knew about Jenny Thomas's involvement. 748 00:40:30,040 --> 00:40:32,439 Speaker 1: We knew that she had been texting Mark, the chief 749 00:40:32,440 --> 00:40:35,840 Speaker 1: of staff, Mark Meadows about it, and initially UM Jompson 750 00:40:35,920 --> 00:40:38,879 Speaker 1: had suggested sorry Thomas rather had suggested that she would 751 00:40:38,920 --> 00:40:42,040 Speaker 1: be willing to testify in front of the committee, But 752 00:40:42,400 --> 00:40:45,680 Speaker 1: we got a letter from her lawyer last night, uh, 753 00:40:45,760 --> 00:40:49,640 Speaker 1: saying that she there's not enough reason for the committee 754 00:40:49,680 --> 00:40:52,120 Speaker 1: to speak with her at this point, and there isn't 755 00:40:52,160 --> 00:40:56,280 Speaker 1: a sufficient basis for them to speak with Jenny Thomas. UM. 756 00:40:56,320 --> 00:40:58,800 Speaker 1: Of course, we'll see what could happen next. The Committee 757 00:40:58,840 --> 00:41:01,000 Speaker 1: does have other steps they take to try and compel 758 00:41:01,040 --> 00:41:04,040 Speaker 1: someone to speak with them, but often that can lead 759 00:41:04,080 --> 00:41:06,799 Speaker 1: to a lengthy legal process in the courts. Only about 760 00:41:06,800 --> 00:41:08,600 Speaker 1: a minute left here, Emily, But what stands out to 761 00:41:08,600 --> 00:41:12,120 Speaker 1: you from last night's primary results? So I think this 762 00:41:12,160 --> 00:41:14,320 Speaker 1: was a really good night, uh if you are Trump. 763 00:41:14,440 --> 00:41:17,799 Speaker 1: A number of his candidates who have been backed one 764 00:41:18,239 --> 00:41:21,680 Speaker 1: major primaries. Uh. In Illinois, I think there's one of 765 00:41:21,719 --> 00:41:24,719 Speaker 1: the big states. Uh. You saw there for the governor's race, 766 00:41:24,800 --> 00:41:28,560 Speaker 1: Trump's backed candidate UM beat out a more well known, 767 00:41:28,680 --> 00:41:32,759 Speaker 1: better funded Republican in that primary. And also in a 768 00:41:33,080 --> 00:41:36,480 Speaker 1: Illinois House race that pitted to sitting members to sitting 769 00:41:36,480 --> 00:41:40,320 Speaker 1: Republicans of Congress against each other, the Trump backed candidate 770 00:41:40,760 --> 00:41:45,360 Speaker 1: beat sort of the more established, slightly more mainstream candidate Bloomberg. 771 00:41:45,360 --> 00:41:48,640 Speaker 1: Government reporter Emily Wilkins. As always, thanks for keeping us 772 00:41:48,719 --> 00:41:50,759 Speaker 1: up to speed on what's happening in d C. Read 773 00:41:50,800 --> 00:41:53,840 Speaker 1: more about all these stories on Bloomberg dot com or 774 00:41:53,880 --> 00:41:55,960 Speaker 1: on the Bloomberg terminal, and you can follow all the 775 00:41:56,000 --> 00:42:00,560 Speaker 1: latest on Bloomberg Radio in Washington Bloomberg and one oh 776 00:42:00,560 --> 00:42:03,759 Speaker 1: five point seven FM h D two. Looking ahead to 777 00:42:03,800 --> 00:42:07,480 Speaker 1: the market, open futures are pointing to slightly more losses 778 00:42:07,520 --> 00:42:10,080 Speaker 1: after the sell off yesterday. We have SMP futures down 779 00:42:10,120 --> 00:42:13,640 Speaker 1: now eight points, now futures down twenty nine, NASTAC fewer 780 00:42:13,760 --> 00:42:17,560 Speaker 1: futures are lower by thirty eight points. Looking at the bonds, 781 00:42:17,600 --> 00:42:19,919 Speaker 1: the tenure Treasury is up three thirty seconds, the yield 782 00:42:19,960 --> 00:42:22,000 Speaker 1: three point one six percent, and the yield on the 783 00:42:22,040 --> 00:42:25,719 Speaker 1: two year right now three point zero nine percent. Nime 784 00:42:25,840 --> 00:42:27,879 Speaker 1: X screwed is up eight tenth percent, or eighty six 785 00:42:27,880 --> 00:42:30,480 Speaker 1: cents at a hundred twelve dollar sixty two cents of barrel. 786 00:42:30,600 --> 00:42:34,040 Speaker 1: Of course, we're looking forward to that ECB Forum conversation 787 00:42:34,160 --> 00:42:37,799 Speaker 1: nine am Wall Street Time. Francine Lockwax sits down with 788 00:42:38,040 --> 00:42:42,040 Speaker 1: FED Chair J Powell, ECB President Christine Lagarde, and Bank 789 00:42:42,080 --> 00:42:44,919 Speaker 1: of England Governor Andrew Bailey. That kicks off at nine 790 00:42:44,960 --> 00:42:48,320 Speaker 1: am Wall Street Time. Bloomberg surveillance is next. This is 791 00:42:48,360 --> 00:42:48,880 Speaker 1: Bloomberg