1 00:00:01,520 --> 00:00:04,640 Speaker 1: Life from the Bloomberg Interactive Brooker Studios. This is Bloomberg 2 00:00:04,680 --> 00:00:08,200 Speaker 1: day Break for Wednesday, March two, two. Coming up this hour, 3 00:00:08,320 --> 00:00:11,640 Speaker 1: President Biden targets Russia and inflation in his first State 4 00:00:11,640 --> 00:00:14,560 Speaker 1: of the Union address. This is our Morley to read 5 00:00:14,600 --> 00:00:18,279 Speaker 1: an overcomment challenge in Mark Fox and we will. Russia 6 00:00:18,320 --> 00:00:21,160 Speaker 1: moves further into Ukraine, claiming capture of a quartz city, 7 00:00:21,360 --> 00:00:25,079 Speaker 1: and the war sends oil surging above one dollars of aral. 8 00:00:25,160 --> 00:00:28,240 Speaker 1: New Jersey residents may soon have to pump their own gas. Plus. 9 00:00:28,360 --> 00:00:32,279 Speaker 1: New York's Republican Party leaders nominated Representative leez Elda as 10 00:00:32,320 --> 00:00:34,839 Speaker 1: their candidate for governor. I'm Michael barm more than I'm 11 00:00:34,880 --> 00:00:37,840 Speaker 1: John Stashower. In sports, the baseball lockout continues. The first 12 00:00:37,880 --> 00:00:40,760 Speaker 1: two series of the season were canceled road losses for 13 00:00:40,840 --> 00:00:45,600 Speaker 1: the Nets, Islanders and Devils. That's All straight Ahead on 14 00:00:45,760 --> 00:00:51,560 Speaker 1: Bloomberg day Break on Bloomberg eleven, Trio, New York, Bloomberg one, Washington, 15 00:00:51,640 --> 00:00:55,720 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, 16 00:00:55,760 --> 00:00:59,720 Speaker 1: San Francisco, Sirius x M one nineteen and around the 17 00:00:59,760 --> 00:01:02,520 Speaker 1: World Old on Bloomberg Radio dot Com. And via the 18 00:01:02,640 --> 00:01:10,040 Speaker 1: Bloomberg Business set. Good morning, I'm Nathan Hagar and I'm Karen. Moscow. 19 00:01:10,280 --> 00:01:12,760 Speaker 1: US futures higher this morning. We're coming up to six 20 00:01:12,760 --> 00:01:14,440 Speaker 1: oh one on Wall Street, and we check the markets 21 00:01:14,480 --> 00:01:17,560 Speaker 1: every fifteen minutes throughout the trading day. On Bloomberg S 22 00:01:17,600 --> 00:01:20,440 Speaker 1: and P Future is up twenty four points now, futures 23 00:01:20,440 --> 00:01:23,919 Speaker 1: have one eighty two. NASAIC futures up ninety two. Attend 24 00:01:23,959 --> 00:01:26,440 Speaker 1: your treasury down five thirty seconds. He had one point 25 00:01:26,480 --> 00:01:28,759 Speaker 1: seven four percent, and they yield them the two year 26 00:01:28,840 --> 00:01:31,880 Speaker 1: one point three nine percent. Nine Next, Screwed oil is 27 00:01:32,000 --> 00:01:35,120 Speaker 1: up four percent. Nathan Karen will have more on markets 28 00:01:35,120 --> 00:01:37,800 Speaker 1: in a minute, but first, the fighting is intensifying in 29 00:01:37,840 --> 00:01:41,280 Speaker 1: Eastern Europe. According to inter Facts, Russia's defense ministry says 30 00:01:41,319 --> 00:01:44,360 Speaker 1: it has captured the Ukrainian port of Croissan. Moscow is 31 00:01:44,400 --> 00:01:47,600 Speaker 1: pressing ahead with attacks. Meantime, the US is taking more 32 00:01:47,640 --> 00:01:51,080 Speaker 1: action to isolate Russia and also prevents cyber attacks. Amy 33 00:01:51,080 --> 00:01:55,040 Speaker 1: Morris reports from our Bloomberg newsroom in Washington. The US 34 00:01:55,120 --> 00:01:58,720 Speaker 1: government has banned Russian aircraft from American airspace as the 35 00:01:58,840 --> 00:02:01,760 Speaker 1: U S and EU looked to expand sanctions on Russia. 36 00:02:02,000 --> 00:02:06,040 Speaker 1: Former US Ambassador to Ukraine, William Taylor, tells ABC those 37 00:02:06,040 --> 00:02:10,040 Speaker 1: sanctions should extend to Belarus. They are co conspirators. They 38 00:02:10,080 --> 00:02:13,239 Speaker 1: are together with put This as the Senate fast track 39 00:02:13,280 --> 00:02:16,240 Speaker 1: the package of cybersecurity proposals. The House is working on 40 00:02:16,280 --> 00:02:19,640 Speaker 1: a companion bill. US businesses are on high alert for 41 00:02:19,760 --> 00:02:23,640 Speaker 1: Russian cyber attacks in Washington. I maybe Morris Bloomberg daybreak, 42 00:02:23,760 --> 00:02:26,200 Speaker 1: All right, Amy, thank you for coming off President Biden's 43 00:02:26,200 --> 00:02:28,360 Speaker 1: first State of the Union address last night, and in 44 00:02:28,400 --> 00:02:31,239 Speaker 1: a speech, the President promised to take on Vladimir Putin 45 00:02:31,360 --> 00:02:34,480 Speaker 1: and keeps supporting Ukraine. He thought the West to NATO 46 00:02:34,600 --> 00:02:38,240 Speaker 1: wouldn't respond. He thought he could divide us at home, 47 00:02:38,760 --> 00:02:42,079 Speaker 1: in this chamber, in this nation. He thought he could 48 00:02:42,080 --> 00:02:45,359 Speaker 1: divide us in Europe as well. But Putin was wrong. 49 00:02:45,720 --> 00:02:47,720 Speaker 1: In remarks that lasted a little more than an hour, 50 00:02:47,840 --> 00:02:50,919 Speaker 1: the President also called on Congress to unite on challenges 51 00:02:51,000 --> 00:02:54,320 Speaker 1: here at home, including higher prices. One way to fight 52 00:02:54,360 --> 00:02:57,160 Speaker 1: Inflasi is a drive down wages and make America's poor. 53 00:02:58,200 --> 00:02:59,760 Speaker 1: I think I have a better idea to fight in 54 00:03:01,120 --> 00:03:06,200 Speaker 1: lower costs notes. The President outed his bipartisan infrastructure law 55 00:03:06,240 --> 00:03:09,600 Speaker 1: and called for new action on domestic manufacturing and supply chains, 56 00:03:09,680 --> 00:03:13,400 Speaker 1: lowering health and family costs and boosting competition. He also 57 00:03:13,440 --> 00:03:16,320 Speaker 1: promised to keep fighting COVID even as more Americans return 58 00:03:16,400 --> 00:03:19,239 Speaker 1: to work and school. Well reaction continues to pour into 59 00:03:19,240 --> 00:03:21,359 Speaker 1: the President's State of the Union. Karen Genie she and 60 00:03:21,480 --> 00:03:24,600 Speaker 1: Zano is a political science professor and a Bloomberg News contributor. 61 00:03:24,800 --> 00:03:27,400 Speaker 1: I think he missed an important moment. This is the 62 00:03:27,480 --> 00:03:31,519 Speaker 1: last big speech Joe Biden will get, the last major 63 00:03:31,600 --> 00:03:34,760 Speaker 1: audience he has before the midterm election, and I'm not 64 00:03:34,880 --> 00:03:38,560 Speaker 1: sure he changed on the domestic front any hearts or minds, 65 00:03:38,560 --> 00:03:40,200 Speaker 1: and I think he could have done a better job 66 00:03:40,280 --> 00:03:43,560 Speaker 1: saying we need to restore democracy, not just abroad, but 67 00:03:43,680 --> 00:03:47,240 Speaker 1: at home. Bloomberg contributor Genie Schanzano says the number one 68 00:03:47,280 --> 00:03:50,720 Speaker 1: issue for voters right now is inflation, and Republicans seized 69 00:03:50,720 --> 00:03:53,080 Speaker 1: on that topic. After the President wrapped up his speech, 70 00:03:53,160 --> 00:03:56,400 Speaker 1: Nathan Iowa Governor Kim Reynolds deliver the GOP response to 71 00:03:56,440 --> 00:03:58,960 Speaker 1: the State of the Union. Where now one year into 72 00:03:58,960 --> 00:04:03,040 Speaker 1: his presidency and instead of moving America forward, it feels 73 00:04:03,080 --> 00:04:06,160 Speaker 1: like President Biden and his party have sent us back 74 00:04:06,200 --> 00:04:09,960 Speaker 1: in time to the late seventies and early eighties. Hioma 75 00:04:10,000 --> 00:04:12,960 Speaker 1: Governor Kim Reynolds used her fourteen minute address to say 76 00:04:13,000 --> 00:04:15,560 Speaker 1: the country's on the wrong track. She focused on issues 77 00:04:15,680 --> 00:04:19,440 Speaker 1: ranging from inflation and crime to taxes and education. Let's 78 00:04:19,440 --> 00:04:22,039 Speaker 1: turn to markets now. We are seeing major moves in 79 00:04:22,120 --> 00:04:25,080 Speaker 1: commodities as the war in Ukraine intensifies. Let's get the 80 00:04:25,120 --> 00:04:28,200 Speaker 1: latest line from Bloomberg's John Tucker, John Nathan, oil is 81 00:04:28,240 --> 00:04:31,360 Speaker 1: surging this morning. Brent crude was hovering around one ten 82 00:04:31,440 --> 00:04:35,320 Speaker 1: dollars of barrel. The International Energy Agency warns that global 83 00:04:35,440 --> 00:04:39,360 Speaker 1: energy security is under threat because of Russia's war in Ukraine. 84 00:04:39,760 --> 00:04:43,000 Speaker 1: In addition, the energy medals and grains prices are higher. 85 00:04:43,360 --> 00:04:47,040 Speaker 1: Russian commodities are not targeted by sanctions, but banks are 86 00:04:47,040 --> 00:04:51,440 Speaker 1: pulling financing and shippers are reluctant to touch anything from Russia. 87 00:04:51,800 --> 00:04:54,720 Speaker 1: Live in New York on John Tucker Bloomberg Daybreak. All right, John, 88 00:04:54,760 --> 00:04:57,120 Speaker 1: thank you. Well. More of the world's iconic brands are 89 00:04:57,160 --> 00:04:59,599 Speaker 1: pulling away from Russia. We get more on the growing 90 00:04:59,640 --> 00:05:02,360 Speaker 1: list of i from Bloomberg's Randy to Young, Good Morning, Rania, 91 00:05:02,440 --> 00:05:05,600 Speaker 1: Good Morning Karen. Apple and Nike both say they're halting 92 00:05:05,640 --> 00:05:08,640 Speaker 1: product sales in Russia, cutting off the country from the 93 00:05:08,680 --> 00:05:12,279 Speaker 1: most valuable tech company and the biggest maker of athletic wear, 94 00:05:12,560 --> 00:05:16,000 Speaker 1: while Disney and Warner Media are pausing new movie releases 95 00:05:16,040 --> 00:05:19,120 Speaker 1: in the nation. It's a cultural and commercial split not 96 00:05:19,240 --> 00:05:22,560 Speaker 1: seen since the Cold War ended in the eighties. US 97 00:05:22,640 --> 00:05:25,960 Speaker 1: brands are quickly vanishing from the Russian marketplace in a 98 00:05:25,960 --> 00:05:29,800 Speaker 1: way that will be hard for consumers to ignore. Live 99 00:05:29,839 --> 00:05:33,280 Speaker 1: in New York. I'm Ranita Young, Bloomberg Daybreak. Alright, Ranita, thanks, 100 00:05:33,279 --> 00:05:35,200 Speaker 1: So how will the war in Ukraine effect? The Fed 101 00:05:35,279 --> 00:05:37,520 Speaker 1: will be looking for answers on that, plus the outlook 102 00:05:37,520 --> 00:05:40,240 Speaker 1: for inflation when Fed Chair j Powell begins two days 103 00:05:40,240 --> 00:05:44,520 Speaker 1: of testimony to Congress. Bloomberg Economics correspondent Michael McKee reports 104 00:05:44,760 --> 00:05:47,919 Speaker 1: inflation in February out next week is forecast to be 105 00:05:47,960 --> 00:05:51,520 Speaker 1: the highest since the start of two So there's pressure 106 00:05:51,520 --> 00:05:53,760 Speaker 1: on the Fed to do something. But what policy makers 107 00:05:53,839 --> 00:05:56,560 Speaker 1: don't know is how much higher prices from Russia's war 108 00:05:56,680 --> 00:05:59,840 Speaker 1: will crimp growth. Those are questions Chairman Paul will face 109 00:05:59,880 --> 00:06:02,520 Speaker 1: the next two days, and it's not just a growth worry. 110 00:06:02,839 --> 00:06:06,760 Speaker 1: Powell also has to worry about higher inflation expectations becoming 111 00:06:06,800 --> 00:06:11,120 Speaker 1: embedded in consumer and business psychology. Michael McKee, Bloomberg Debris. 112 00:06:11,400 --> 00:06:13,599 Speaker 1: All right, Michael, thank you. The US dollar also in 113 00:06:13,640 --> 00:06:16,640 Speaker 1: focus today. It's been strengthening since the war in Ukraine began, 114 00:06:16,720 --> 00:06:19,240 Speaker 1: and the shift could mark a critical inflection point for 115 00:06:19,240 --> 00:06:22,240 Speaker 1: the greenback, as according to Sultan Posar, ahead of interest 116 00:06:22,320 --> 00:06:25,320 Speaker 1: rate Strategy at Credit Swiss, now that Russia has lost 117 00:06:25,360 --> 00:06:28,279 Speaker 1: access to currency reserves, he says, other countries may start 118 00:06:28,360 --> 00:06:31,240 Speaker 1: questioning the value of their own reserves and that could 119 00:06:31,320 --> 00:06:36,000 Speaker 1: ripple across currency markets. The FX reserves are partly used 120 00:06:36,040 --> 00:06:39,200 Speaker 1: by the central bank to be able to provide dollars 121 00:06:39,279 --> 00:06:42,760 Speaker 1: to domestic financial system, and if all these balances are frozen, 122 00:06:43,040 --> 00:06:45,680 Speaker 1: you know, one channel of dollars to help the local 123 00:06:45,720 --> 00:06:48,320 Speaker 1: banking system drives up. So I think it's quite a 124 00:06:48,360 --> 00:06:51,600 Speaker 1: complicated situation. So then Posar with Credit Swiss made the 125 00:06:51,640 --> 00:06:55,159 Speaker 1: comments on the Bloomberg Odd Lots podcast. Read more about 126 00:06:55,200 --> 00:06:58,080 Speaker 1: it on Today's Big Take by Bloomberg, on the Terminal 127 00:06:58,120 --> 00:07:01,400 Speaker 1: and online at Bloomberg dot Com and Bloomberg Daybreak is 128 00:07:01,400 --> 00:07:04,120 Speaker 1: brought to you by Interactive Brokers. Global Analysts helps you 129 00:07:04,160 --> 00:07:07,440 Speaker 1: find new global investment opportunities to diversify your portfolio and 130 00:07:07,440 --> 00:07:11,320 Speaker 1: discover undervalued companies that may have greater growth potential. Try 131 00:07:11,440 --> 00:07:14,120 Speaker 1: i b k R Global Analysts today at I b 132 00:07:14,240 --> 00:07:18,080 Speaker 1: k R dot com slash g A. You're listening to 133 00:07:18,160 --> 00:07:24,800 Speaker 1: Bloomberg Daybreak and it's sounds six oh seven on Wall 134 00:07:24,800 --> 00:07:27,120 Speaker 1: Street forty two degrees in Central Park. Still dealing with 135 00:07:27,120 --> 00:07:28,800 Speaker 1: a crash on the westbound l I E. It's at 136 00:07:28,800 --> 00:07:31,920 Speaker 1: Maurice Avenue. Details coming up in traffic First, Michael Barr 137 00:07:31,960 --> 00:07:33,320 Speaker 1: is here to tell us what's going on in New 138 00:07:33,440 --> 00:07:37,280 Speaker 1: York and around the world. We're getting pumped about one 139 00:07:37,280 --> 00:07:40,960 Speaker 1: story you've got, Michael. Oh my goodness. New Jersey drivers 140 00:07:41,000 --> 00:07:44,000 Speaker 1: could soon be forced to pump their own gas. New 141 00:07:44,080 --> 00:07:48,480 Speaker 1: Jersey is the only state in the nation with a 142 00:07:48,640 --> 00:07:51,760 Speaker 1: section of Oregon where drivers are not allowed to pump 143 00:07:51,800 --> 00:07:54,640 Speaker 1: their own gas by law, But a bill in the 144 00:07:54,680 --> 00:07:58,000 Speaker 1: state legislature could allow self service as an option for 145 00:07:58,080 --> 00:08:01,559 Speaker 1: smaller stations while maintaining fulls service for stations with four 146 00:08:01,800 --> 00:08:05,520 Speaker 1: or more pumps. Station owners say changing it would help 147 00:08:05,560 --> 00:08:09,680 Speaker 1: offset rising gas prices and workers shortages. New York City's 148 00:08:09,680 --> 00:08:12,880 Speaker 1: pension fund for police officers voted to sell stocks and 149 00:08:12,960 --> 00:08:16,560 Speaker 1: bonds issued by Russian companies. The fifty three point six 150 00:08:16,560 --> 00:08:19,800 Speaker 1: billion dollar fund has more than eighty five thousand active 151 00:08:19,840 --> 00:08:22,760 Speaker 1: members and retirees. Hong Kong is set to report a 152 00:08:22,800 --> 00:08:27,560 Speaker 1: record of over fifty thousand daily new COVID infections today. 153 00:08:27,960 --> 00:08:31,520 Speaker 1: The city spiraling outbreak is seeing thousands of residents flee, 154 00:08:31,840 --> 00:08:35,240 Speaker 1: while those remaining empty store shelves of food and medicine. 155 00:08:35,520 --> 00:08:39,040 Speaker 1: US representatively Zelden and l I of former President Trump 156 00:08:39,320 --> 00:08:42,200 Speaker 1: except at the New York State Republican Party's nomination as 157 00:08:42,240 --> 00:08:47,520 Speaker 1: their candidate for governor. For the gubernatorial race, Beto O'Rourke 158 00:08:47,840 --> 00:08:51,120 Speaker 1: is projected to be the Democratic winner for the Texas 159 00:08:51,160 --> 00:08:55,040 Speaker 1: scubernatorial primary. He held a victory rally and ford Worth 160 00:08:55,120 --> 00:08:58,160 Speaker 1: last night. This group of people and then some are 161 00:08:58,160 --> 00:09:00,040 Speaker 1: gonna make me the first Democrats to be governed know 162 00:09:00,160 --> 00:09:05,240 Speaker 1: the state of Texas. O'Rourke will go up against incumbent 163 00:09:05,280 --> 00:09:09,520 Speaker 1: Governor Greg Abbott, who won the GOP primary. Republicans sent 164 00:09:09,720 --> 00:09:12,960 Speaker 1: a message they want at keep Texas the land of 165 00:09:13,000 --> 00:09:17,640 Speaker 1: opportunity and prosperity for absolutely everybody. Governor Rabbit spoke to 166 00:09:17,640 --> 00:09:21,679 Speaker 1: his supporters at a Corpus Christie Victory Valley Telsa, Oklahoma, 167 00:09:21,720 --> 00:09:24,080 Speaker 1: is searching for more remains of victims killed in the 168 00:09:24,080 --> 00:09:29,920 Speaker 1: city's race massacre. University of Florida forensic anthropologist Dr Phoebe 169 00:09:29,920 --> 00:09:33,839 Speaker 1: Stubblefield said one grave hell the remains of a homicide victim. 170 00:09:33,960 --> 00:09:37,560 Speaker 1: Burial had multiple ben shot wounds that contributed to his death. 171 00:09:37,920 --> 00:09:40,520 Speaker 1: He had a minimum of three gunshot wounds. He was 172 00:09:40,559 --> 00:09:43,240 Speaker 1: a young man in his twenties. The city says will 173 00:09:43,280 --> 00:09:46,600 Speaker 1: not file criminal charges. The Moon is about to get 174 00:09:46,640 --> 00:09:49,480 Speaker 1: slammed by a big piece of space junk and leave 175 00:09:49,520 --> 00:09:53,000 Speaker 1: a crater the size of several semi tractor trailers. The 176 00:09:53,080 --> 00:09:56,520 Speaker 1: leftover rocket was slammed into the far side of the moon. Friday, 177 00:09:56,760 --> 00:09:59,280 Speaker 1: Global News twenty four hours a day on airand on 178 00:09:59,320 --> 00:10:03,160 Speaker 1: Bloomberg Quick Take, powered by more journalists analysts more than 179 00:10:03,520 --> 00:10:06,880 Speaker 1: twenty countries. On Michael bar this is Bloomberg, natherm Thank you, Michael. 180 00:10:11,440 --> 00:10:13,280 Speaker 1: Almost six ten on Wall Straight time for the Bloomberg 181 00:10:13,360 --> 00:10:15,439 Speaker 1: Sports Update with John stash Our. All right, Nathan. For 182 00:10:15,440 --> 00:10:17,920 Speaker 1: the first time since the strike that canceled the nine 183 00:10:18,720 --> 00:10:22,000 Speaker 1: four World Series and went into the following season, baseball 184 00:10:22,040 --> 00:10:24,200 Speaker 1: games will be lost to the work stuff and is 185 00:10:24,200 --> 00:10:27,319 Speaker 1: the lockout continues in the first two series of the season, 186 00:10:27,480 --> 00:10:30,559 Speaker 1: canceled two sides at a marathon bargaining session one day 187 00:10:30,600 --> 00:10:33,520 Speaker 1: that led to an extent to the deadline and some optimism, 188 00:10:33,559 --> 00:10:36,080 Speaker 1: But things apparently did not go well yesterday at the 189 00:10:36,080 --> 00:10:39,920 Speaker 1: commissioner is rob Man. We worked hard to avoid an 190 00:10:39,920 --> 00:10:43,640 Speaker 1: outcome that's bad for our fans, bad for our players, 191 00:10:44,400 --> 00:10:47,719 Speaker 1: and bad for our clothes. I want to share our 192 00:10:47,800 --> 00:10:52,199 Speaker 1: fans that our failure to region agreement was not due 193 00:10:52,440 --> 00:10:56,480 Speaker 1: to a lack of effort by either part. The players 194 00:10:56,520 --> 00:11:00,240 Speaker 1: game here for nine days. They worked hard, they tried 195 00:11:00,320 --> 00:11:03,520 Speaker 1: to make a deal, and I appreciate The Yankees were 196 00:11:03,559 --> 00:11:06,600 Speaker 1: to start the season with seven road games Texas and Houston. 197 00:11:06,640 --> 00:11:09,200 Speaker 1: The Mets first two series where at home versus Washington 198 00:11:09,320 --> 00:11:11,720 Speaker 1: and Atlanta. The games will not be made up. A 199 00:11:11,720 --> 00:11:14,160 Speaker 1: lot closer for the Nets against the Raptors Toronto won 200 00:11:14,160 --> 00:11:16,920 Speaker 1: by thirty six in Brooklyn, same two last night in Toronto. 201 00:11:17,000 --> 00:11:19,480 Speaker 1: The Raptors won one oh nine one oh eight. They 202 00:11:19,480 --> 00:11:21,000 Speaker 1: had a ten up and run on the fourth quarter. 203 00:11:21,040 --> 00:11:24,000 Speaker 1: Nets have now lost fifteen of their last eighteen. Just 204 00:11:24,280 --> 00:11:27,400 Speaker 1: as the Knicks had Nicks playing Philadelphia tonight, Nets play 205 00:11:27,480 --> 00:11:30,280 Speaker 1: Miami tomorrow. Kevin Durant is expected to play has been 206 00:11:30,320 --> 00:11:33,319 Speaker 1: out since mid January. Islanders in Colorado they had with 207 00:11:33,360 --> 00:11:35,960 Speaker 1: their NHL leading win. They scored three in the third 208 00:11:35,960 --> 00:11:38,640 Speaker 1: and one five three. Devils lost in Columbus four three. 209 00:11:38,679 --> 00:11:41,440 Speaker 1: The w n b A find the New York Liberty 210 00:11:41,640 --> 00:11:44,840 Speaker 1: half a million dollars. Their crime was flying their players 211 00:11:44,840 --> 00:11:48,400 Speaker 1: on chartered flights instead of flying commercial as league rules dictate. 212 00:11:48,760 --> 00:11:51,920 Speaker 1: John Stashware, Bloomberg Sports, Nathan, thank you, john S and 213 00:11:52,000 --> 00:11:54,360 Speaker 1: p Futures up twenty four points, Dona down Future is 214 00:11:54,400 --> 00:11:57,040 Speaker 1: up a hundred eighty three. Nastack Future is higher by 215 00:11:57,240 --> 00:11:59,800 Speaker 1: ninety seven points. The ten your treasury down seven thirty 216 00:12:00,040 --> 00:12:03,200 Speaker 1: into the yield one point seven five. You're listening to 217 00:12:03,240 --> 00:12:09,680 Speaker 1: Bloomberg Day Rank almost six twelve on Wall Street. Bloomberg 218 00:12:09,720 --> 00:12:11,960 Speaker 1: Daybreak is brought to you by Audie. Don't let someone 219 00:12:12,000 --> 00:12:14,560 Speaker 1: else drive off in the Audi model you've always wanted. 220 00:12:14,960 --> 00:12:16,880 Speaker 1: Visit a tri state autie dealer to get behind the 221 00:12:16,920 --> 00:12:24,520 Speaker 1: wheel of yours. Today, markets headlines and breaking news twenty 222 00:12:24,520 --> 00:12:27,360 Speaker 1: four hours a day at Bloomberg dot Com, of Bloomberg 223 00:12:27,400 --> 00:12:30,319 Speaker 1: Business Out and at Bloomberg Quick Tape. This is a 224 00:12:30,360 --> 00:12:39,560 Speaker 1: Bloomberg Business Flash, and I'm Karen Moscow. This updates brought 225 00:12:39,600 --> 00:12:42,360 Speaker 1: to you by se I Imagine your asset management firms. 226 00:12:42,400 --> 00:12:46,480 Speaker 1: Operational infrastructure is a competitive advantage that SEI show you 227 00:12:46,559 --> 00:12:49,000 Speaker 1: how at se I C dot com slash I M 228 00:12:49,280 --> 00:12:51,600 Speaker 1: s u S dot Index. Future is on the rise 229 00:12:51,679 --> 00:12:55,079 Speaker 1: this morning and European stocks erased their losses after the 230 00:12:55,160 --> 00:12:58,800 Speaker 1: Kremlin said Russia is ready to resume talks with Ukraine tonight. 231 00:12:59,040 --> 00:13:01,640 Speaker 1: We check the markets every fifteen minutes throughout the trading day. 232 00:13:01,920 --> 00:13:04,160 Speaker 1: On bloomberg S and P Future is up twenty three 233 00:13:04,160 --> 00:13:07,280 Speaker 1: points down. Future is up one hundred seventy one Nastack 234 00:13:07,360 --> 00:13:10,560 Speaker 1: futures of ninety five. The decks in Germany is little 235 00:13:10,640 --> 00:13:13,240 Speaker 1: change now. The Tenuere treasury down seven thirty seconds. You 236 00:13:13,280 --> 00:13:15,520 Speaker 1: had one point seven five percent. They yield on the 237 00:13:15,600 --> 00:13:19,520 Speaker 1: two year one point four zero percent. NIMEX Screwed oil 238 00:13:19,720 --> 00:13:21,959 Speaker 1: is at four point eight percent, up four dollars ninety 239 00:13:21,960 --> 00:13:24,160 Speaker 1: seven cents at a hundred eight dollars thirty six cents 240 00:13:24,160 --> 00:13:26,760 Speaker 1: of barrel. Brent is up five percent at a hundred 241 00:13:26,760 --> 00:13:29,920 Speaker 1: ten dollars fifteen cents. Call my school, there's down seven 242 00:13:29,920 --> 00:13:32,760 Speaker 1: ten percent or thirteen dollars fifty cents at nineteen thirty 243 00:13:32,840 --> 00:13:36,040 Speaker 1: thirty announced the euro one point one zero nine zero 244 00:13:36,080 --> 00:13:38,600 Speaker 1: against the dollar, British pound one point three three oh eight, 245 00:13:38,960 --> 00:13:41,160 Speaker 1: and the n has at one fifteen point to six 246 00:13:41,200 --> 00:13:44,560 Speaker 1: and Bitcoin this morning is higher. It's at forty four thousand, 247 00:13:44,679 --> 00:13:48,079 Speaker 1: one hundred ninety dollars. That's a Bloomberg Business flashdown. Here's 248 00:13:48,120 --> 00:13:50,520 Speaker 1: Michael Barrow with more on what's going on around the world. 249 00:13:50,679 --> 00:13:53,400 Speaker 1: Munchael Karen, thank you very much. President Joe Biden gave 250 00:13:53,440 --> 00:13:56,319 Speaker 1: his first State of the Union address from the Capitol 251 00:13:56,440 --> 00:14:00,000 Speaker 1: last night. The President opening with a message of globe 252 00:14:00,000 --> 00:14:04,240 Speaker 1: old unity against Russia President Vladimir Putin. Putin is now 253 00:14:04,280 --> 00:14:07,600 Speaker 1: isolated from the world more than he has ever been 254 00:14:08,440 --> 00:14:11,240 Speaker 1: I was. Republican Governor Kim Reynolds offered up the GOP 255 00:14:11,400 --> 00:14:15,720 Speaker 1: response the President Biden's address. Reynolds portrayed the GOP as 256 00:14:15,800 --> 00:14:20,160 Speaker 1: the Party of Freedom and Choice. Because you know, you've 257 00:14:20,280 --> 00:14:24,880 Speaker 1: shown that the soul of America isn't about who lives 258 00:14:24,880 --> 00:14:27,560 Speaker 1: in the White House. Reynolds asked people to think about 259 00:14:27,640 --> 00:14:30,840 Speaker 1: the last year of democratic policies coming from the White House. 260 00:14:31,240 --> 00:14:34,240 Speaker 1: The scheduled opening day from Major League Baseball has been canceled. 261 00:14:34,280 --> 00:14:37,320 Speaker 1: No deal was reached between the players and teams yesterday 262 00:14:37,360 --> 00:14:40,040 Speaker 1: to in the lockout. In the NBA, the Nets and 263 00:14:40,120 --> 00:14:43,600 Speaker 1: Warriors lost, the Celtics and Wizards won. In the NHL, 264 00:14:43,640 --> 00:14:46,800 Speaker 1: the Devil's Islanders and Bruins lost. Global News twenty four 265 00:14:46,800 --> 00:14:49,200 Speaker 1: hours a day on air and on Bloomberg Quicktake, powered 266 00:14:49,200 --> 00:14:52,360 Speaker 1: by more than journalists, analysts, more than a hundred twenty 267 00:14:52,400 --> 00:14:55,440 Speaker 1: countries and Michael Bard. This is Bloomberg, Nathan, Thank you, Michael. 268 00:14:55,440 --> 00:14:57,320 Speaker 1: We are coming up to six twenty on Wall Street 269 00:14:57,480 --> 00:15:00,200 Speaker 1: Live from the Bloomberg Interract and Brokers Studios. This is 270 00:15:00,200 --> 00:15:03,040 Speaker 1: Bloomberg Daybreak and with the war in Ukraine now into 271 00:15:03,120 --> 00:15:06,280 Speaker 1: a seventh day, were joined live by Bloomberg News Executive 272 00:15:06,360 --> 00:15:10,320 Speaker 1: editor for International Government, Rosalind Matheson. Good morning, get us 273 00:15:10,360 --> 00:15:12,720 Speaker 1: up to speed on the latest development on the ground. Again, 274 00:15:12,800 --> 00:15:16,480 Speaker 1: apparently Russia's reporting it's taken a key port city in Ukraine. 275 00:15:17,280 --> 00:15:19,520 Speaker 1: That's right, that's the city of Kesson in the south, 276 00:15:19,960 --> 00:15:22,160 Speaker 1: which is one of the biggest cities in Ukraine and 277 00:15:22,200 --> 00:15:25,640 Speaker 1: obviously on the port which makes it an important conduit 278 00:15:26,040 --> 00:15:31,000 Speaker 1: for trading commodities in the region. Russians, Russia's Defense Ministry 279 00:15:31,040 --> 00:15:33,960 Speaker 1: is saying that its forces have taken that city. There's 280 00:15:34,000 --> 00:15:37,440 Speaker 1: not been a confirmation from Ukraine, although they did acknowledge 281 00:15:37,640 --> 00:15:40,840 Speaker 1: that there were Russian troops moving into the city overnight. 282 00:15:40,880 --> 00:15:44,000 Speaker 1: There are also reports of heavy fighting in Ukraine's second 283 00:15:44,360 --> 00:15:48,240 Speaker 1: biggest city of Kiev, that paratroopers from Russia moved in 284 00:15:48,280 --> 00:15:51,880 Speaker 1: there overnight, alongside heavy shelling. Of course, the big one, 285 00:15:52,400 --> 00:15:54,840 Speaker 1: the big question here is at what point troops moved 286 00:15:54,840 --> 00:15:58,600 Speaker 1: properly into the capital Kiev, with that very long convoy 287 00:15:58,640 --> 00:16:02,840 Speaker 1: that's been inching its way along difficult road conditions towards 288 00:16:03,120 --> 00:16:06,360 Speaker 1: the capital and meeting first resistance along the way from 289 00:16:06,520 --> 00:16:09,720 Speaker 1: Ukrainian fighters. Of course, there was bombing of the city 290 00:16:09,840 --> 00:16:12,760 Speaker 1: through the day yesterday and again overnight, just showing how 291 00:16:12,840 --> 00:16:16,560 Speaker 1: much Russia is ramping up. It's an aerial bombardment campaign 292 00:16:16,600 --> 00:16:20,440 Speaker 1: to try and accelerate progress here inside Ukraine. And even 293 00:16:20,520 --> 00:16:23,960 Speaker 1: as we are seeing these signs of heavy resistance from 294 00:16:24,120 --> 00:16:29,520 Speaker 1: Ukrainian forces, we're also hearing calls from Ukraine for allies 295 00:16:29,600 --> 00:16:32,480 Speaker 1: to do more, calls for even an fly zone. I mean, 296 00:16:32,480 --> 00:16:36,560 Speaker 1: that's a pretty big ask for the allies of the 297 00:16:36,640 --> 00:16:39,360 Speaker 1: US and Europe, isn't it. That's right. In fact, we 298 00:16:39,440 --> 00:16:41,400 Speaker 1: just published a story on there's a very short a 299 00:16:41,400 --> 00:16:44,320 Speaker 1: few minutes ago show why a NATO no fly zone 300 00:16:44,680 --> 00:16:47,000 Speaker 1: it's very difficult to get off the ground. Of course, 301 00:16:47,040 --> 00:16:51,120 Speaker 1: doing so would require NATO planes to be policing the 302 00:16:51,200 --> 00:16:54,920 Speaker 1: airspace and to be trying to stop Russian aircraft from entering. 303 00:16:54,960 --> 00:16:57,920 Speaker 1: So at that point you're putting NATO aircraft in direct 304 00:16:58,000 --> 00:17:01,520 Speaker 1: conflict with Russian aircraft, and that just risks. Of course, 305 00:17:01,600 --> 00:17:04,919 Speaker 1: there's conflict spiraling from what it is already, which is 306 00:17:04,920 --> 00:17:07,919 Speaker 1: a terrible war inside Ukraine, to being a full on 307 00:17:08,240 --> 00:17:12,879 Speaker 1: conflict between NATO and Russia, and that then that scenario, 308 00:17:12,960 --> 00:17:16,239 Speaker 1: then you're bringing the entirety of Europe into a potential war. 309 00:17:16,320 --> 00:17:19,480 Speaker 1: Because no fire zones have been used very sparingly over 310 00:17:19,520 --> 00:17:22,120 Speaker 1: the years. They were used over Bosnia, they were used 311 00:17:22,200 --> 00:17:25,359 Speaker 1: over Iraq, I believe over Libya as well, but setting 312 00:17:25,359 --> 00:17:27,720 Speaker 1: one up over Ukraine in this moment would be very 313 00:17:27,760 --> 00:17:29,840 Speaker 1: fought for NATO, and so that's been a very fair 314 00:17:29,960 --> 00:17:33,399 Speaker 1: no so far from the military Alliance. So it seems 315 00:17:33,440 --> 00:17:36,840 Speaker 1: as though the response from the Alliance has been to 316 00:17:37,320 --> 00:17:41,600 Speaker 1: provide more military support for Ukraine in terms of equipment 317 00:17:41,840 --> 00:17:46,520 Speaker 1: and sanctions. Pressure on Russia we've seen a growing number 318 00:17:46,560 --> 00:17:50,240 Speaker 1: of companies cutting ties to the Russian economy as well. 319 00:17:50,280 --> 00:17:52,080 Speaker 1: Are we getting a sense at this point that that's 320 00:17:52,119 --> 00:17:57,480 Speaker 1: actually having any effect on Russia's strategy, Not that we 321 00:17:57,520 --> 00:18:00,679 Speaker 1: can discern on the ground. Given the acceleration and if anything, 322 00:18:00,800 --> 00:18:03,320 Speaker 1: of the campaign, it seems that the Russian president is 323 00:18:03,359 --> 00:18:06,320 Speaker 1: determined the way to push on with his goals for 324 00:18:06,400 --> 00:18:10,000 Speaker 1: that country, which seemed to be to achieve total regime change. 325 00:18:10,040 --> 00:18:12,440 Speaker 1: The way he's laying siege. Of course, to hear then, 326 00:18:12,480 --> 00:18:16,119 Speaker 1: particularly to the government of the President Zlynsky, shows that 327 00:18:16,359 --> 00:18:19,400 Speaker 1: so there's no sign that this is deterring him. Of Course, 328 00:18:19,440 --> 00:18:22,320 Speaker 1: some of these sanctions, it's worth noting, especially in the 329 00:18:22,359 --> 00:18:25,280 Speaker 1: swift financial sector, do not kick in at least for 330 00:18:25,320 --> 00:18:28,280 Speaker 1: another ten days, so by the time they kick in, 331 00:18:28,359 --> 00:18:30,560 Speaker 1: it's very difficult to know what the situation on the 332 00:18:30,600 --> 00:18:33,520 Speaker 1: ground might look like by then. But certainly right now 333 00:18:33,560 --> 00:18:36,320 Speaker 1: there's no great incentive for him to de escalate. I 334 00:18:36,400 --> 00:18:38,320 Speaker 1: think about a minute left here, rise it's seen some 335 00:18:38,400 --> 00:18:42,200 Speaker 1: headlines that Russia is talking about another round of talks 336 00:18:42,240 --> 00:18:44,800 Speaker 1: with Ukrainian delegates. What more do we know about that? 337 00:18:44,840 --> 00:18:47,239 Speaker 1: We've know there's been another a couple of rounds of 338 00:18:47,600 --> 00:18:51,440 Speaker 1: negotiations over the last couple of days so so far, 339 00:18:51,600 --> 00:18:53,560 Speaker 1: there was a round of talks from the Yelo Roost 340 00:18:53,560 --> 00:18:58,439 Speaker 1: border between ministerial level negotiators from the two countries that 341 00:18:59,080 --> 00:19:01,840 Speaker 1: came away a pensibly with nothing as far as we 342 00:19:01,880 --> 00:19:05,120 Speaker 1: could see. They returned to their capitals for discussions. Russia 343 00:19:05,160 --> 00:19:08,000 Speaker 1: has set its sending some negotiators back. There's been no 344 00:19:08,040 --> 00:19:11,119 Speaker 1: confirmation from Ukraine that it's doing the same and that 345 00:19:11,160 --> 00:19:14,520 Speaker 1: further talks will indeed happen. Of course, with Ukraine now 346 00:19:14,600 --> 00:19:17,520 Speaker 1: calling to become a member of the European Union, the 347 00:19:17,640 --> 00:19:21,680 Speaker 1: very idea of Ukraine neutrality has to be completely off 348 00:19:21,680 --> 00:19:24,119 Speaker 1: the table. So what those talks, if anything, could achieve. 349 00:19:24,560 --> 00:19:28,080 Speaker 1: It's very difficult to see. If anything. There possibly an 350 00:19:28,119 --> 00:19:30,480 Speaker 1: effort by Russia simply to buy time to sort of 351 00:19:30,480 --> 00:19:34,280 Speaker 1: suggest they're talking, even though there's no possibility of an agreement. 352 00:19:34,880 --> 00:19:37,680 Speaker 1: Thanks as always for keeping us up to speed. Rosalind 353 00:19:37,720 --> 00:19:42,399 Speaker 1: Matheson is our executive editor for International Government for Bloomberg News. 354 00:19:42,680 --> 00:19:45,000 Speaker 1: Right now, SMP futures are up twenty three points down 355 00:19:45,000 --> 00:19:47,679 Speaker 1: futures up a hundred sixty seven. NASDAK futures highed by 356 00:19:47,760 --> 00:19:50,760 Speaker 1: ninety nine points. The tenure Treasury down seven thirty seconds 357 00:19:50,840 --> 00:19:54,320 Speaker 1: yield one point seven five Just ahead, how the United 358 00:19:54,440 --> 00:19:57,639 Speaker 1: Nations is responding to the war and the oil market 359 00:19:57,720 --> 00:20:00,320 Speaker 1: reels at the risk of supply disruptions. Five things you 360 00:20:00,320 --> 00:20:02,639 Speaker 1: need to know to start your day. Coming up on 361 00:20:02,680 --> 00:20:09,480 Speaker 1: Bloomberg Daybreak Bloomberg eleven three oh weather mostly sunny, upper 362 00:20:09,520 --> 00:20:11,680 Speaker 1: forties today, chance for a shower tonight. We have a 363 00:20:11,720 --> 00:20:14,320 Speaker 1: mix of sun and clouds. Tomorrow breezing low forties for 364 00:20:14,440 --> 00:20:17,920 Speaker 1: highs only upper thirties by Friday. Right now forty two 365 00:20:17,920 --> 00:20:25,240 Speaker 1: in Central Park. Broadcasting live from the Bloomberg Interactive Broker 366 00:20:25,359 --> 00:20:28,760 Speaker 1: Studio in New York. Bloomberg E Living Freedom to Washington, 367 00:20:28,840 --> 00:20:32,960 Speaker 1: d C. Bloomberg to Boston, Bloomberg one oh six one 368 00:20:33,040 --> 00:20:36,520 Speaker 1: does San Francisco, Bloomberg No. Sixty to the country, Sirius 369 00:20:36,640 --> 00:20:39,240 Speaker 1: XM to A one ninet and around the globe the 370 00:20:39,280 --> 00:20:43,159 Speaker 1: Bloomberg Business app and Bloomberg Radio dot Com. This is 371 00:20:43,200 --> 00:20:51,640 Speaker 1: Bloomberg Daybreak. It's six thirty on Wall Street. Good morning. 372 00:20:51,640 --> 00:20:54,560 Speaker 1: I'm Nathan Hager and I'm Karen Moscow. Where are just 373 00:20:54,640 --> 00:20:57,400 Speaker 1: about three hours away from the open of US trading time? 374 00:20:57,440 --> 00:20:59,400 Speaker 1: For the five things you need to notice start your day. 375 00:20:59,480 --> 00:21:02,800 Speaker 1: Bront to you by Interactive Brokers. Trade crypto for a 376 00:21:02,880 --> 00:21:05,520 Speaker 1: less coin with commission says twelve to eighteen basis points 377 00:21:05,560 --> 00:21:08,159 Speaker 1: and no hidden spreads or markups. Learn more at ibk 378 00:21:08,320 --> 00:21:11,880 Speaker 1: r dot com slash crypto first. The fighting is intensifying 379 00:21:11,880 --> 00:21:15,160 Speaker 1: in Eastern Europe. According to inter Facts, Russia's defense ministry 380 00:21:15,200 --> 00:21:18,840 Speaker 1: says it is captured the Ukrainian port of Curson. Moscow 381 00:21:18,960 --> 00:21:21,879 Speaker 1: is pressing ahead with attacks. Meantime, the United Nations is 382 00:21:21,920 --> 00:21:25,600 Speaker 1: sounding the alarm and the humanitarian crisis in Ukraine. Bloomberg's 383 00:21:25,600 --> 00:21:28,480 Speaker 1: ad Baxter has the latest. The body says almost seven 384 00:21:28,560 --> 00:21:31,520 Speaker 1: hundred thousand people have already fled Ukraine and say as 385 00:21:31,520 --> 00:21:34,960 Speaker 1: many as four million may leave. US Secretary of State 386 00:21:35,000 --> 00:21:38,720 Speaker 1: Anthony Blincoln says Russia should not be on the Humanitarian Council. 387 00:21:38,840 --> 00:21:42,360 Speaker 1: These are the human rights abuses this council was created 388 00:21:42,400 --> 00:21:45,240 Speaker 1: to stop. If we cannot come together now, when will 389 00:21:45,240 --> 00:21:47,760 Speaker 1: we come together? A U N forecast Russia to step 390 00:21:47,840 --> 00:21:51,200 Speaker 1: up attacks from targeted to more widespread and more brutal. 391 00:21:51,560 --> 00:21:54,359 Speaker 1: In San Francisco, I'm at Baxter Bloomberg Daybreak. All right, 392 00:21:54,400 --> 00:21:56,560 Speaker 1: and thanks for coming off President Biden's first State of 393 00:21:56,560 --> 00:21:59,479 Speaker 1: the Union address last night. The President says Vladimir Putin 394 00:21:59,520 --> 00:22:02,000 Speaker 1: has no idea what's coming. He used his speech to 395 00:22:02,080 --> 00:22:04,800 Speaker 1: rally support for Ukraine and to confront the challenges here 396 00:22:04,800 --> 00:22:08,719 Speaker 1: at home. We'll meet the test, protect freedom and liberty, 397 00:22:09,119 --> 00:22:14,760 Speaker 1: expand fairness and opportunity, and we will save democracy. President 398 00:22:14,800 --> 00:22:17,560 Speaker 1: said getting prices under control will be his top priority. 399 00:22:17,560 --> 00:22:20,399 Speaker 1: He touted his bipartisan infrastructure law and called for more 400 00:22:20,440 --> 00:22:24,240 Speaker 1: action on domestic manufacturing and increasing competition. Well, speaking of 401 00:22:24,359 --> 00:22:27,400 Speaker 1: gas prices here, Nathan, we're seeing crew is searge again 402 00:22:27,440 --> 00:22:29,280 Speaker 1: this morning, and we get the latest live with the 403 00:22:29,280 --> 00:22:32,920 Speaker 1: Bloomberg's John Tucker, John Karen. Brent oil has topped one 404 00:22:33,520 --> 00:22:37,240 Speaker 1: dollars of barrel. The International Energy Agency warns this situation 405 00:22:37,480 --> 00:22:40,760 Speaker 1: is serious now. All sanctions haven't targeted russ and crude. 406 00:22:40,920 --> 00:22:43,920 Speaker 1: Banks won't finance, and shipperds no want to touch it 407 00:22:44,359 --> 00:22:49,080 Speaker 1: about runs and crewed trade is currently frozen. A strategic 408 00:22:49,160 --> 00:22:53,200 Speaker 1: oil reserve release has done little detained prices. Dopek plus 409 00:22:53,359 --> 00:22:56,040 Speaker 1: meets today, but it's only e spented the increased production 410 00:22:56,119 --> 00:22:58,800 Speaker 1: by a trickle Live in New York on John Tucker 411 00:22:58,880 --> 00:23:02,000 Speaker 1: Bloomberg Daybreak, John, Thanks, how will the war in Ukraine effect? 412 00:23:02,040 --> 00:23:04,040 Speaker 1: The Fed will be looking for answers on that, plus 413 00:23:04,119 --> 00:23:06,840 Speaker 1: the outlook for inflation when Fed Chair J. Powell begins 414 00:23:06,880 --> 00:23:09,600 Speaker 1: two days of testimony to Congress. Listen for that live 415 00:23:09,680 --> 00:23:12,760 Speaker 1: on Bloomberg Radio and television beginning today at ten am Eastern. 416 00:23:13,359 --> 00:23:15,440 Speaker 1: And on the corporate front, this morning, Nathan Shares of 417 00:23:15,520 --> 00:23:18,280 Speaker 1: Nordstroom are searching the department store operator up more than 418 00:23:18,359 --> 00:23:21,360 Speaker 1: thirty percent after earnings in the forecast that toped estimates. 419 00:23:21,720 --> 00:23:23,600 Speaker 1: And that's the five things you need to notice start 420 00:23:23,640 --> 00:23:27,160 Speaker 1: your day. Brought to you by Interactive Brokers and futures 421 00:23:27,200 --> 00:23:30,640 Speaker 1: this morning are moving higher. Straight ahead your latest local headlines, 422 00:23:30,920 --> 00:23:38,600 Speaker 1: plus a check of sports. And this is Bloomberg. Thanks 423 00:23:38,680 --> 00:23:41,320 Speaker 1: hearing six Wall Street, forty one degrees in Central Park. 424 00:23:41,400 --> 00:23:43,119 Speaker 1: Still dealing with that crash in the westbound l I 425 00:23:43,280 --> 00:23:45,879 Speaker 1: at Maurice Avenue. Michael Barr has more on what's going 426 00:23:45,920 --> 00:23:48,200 Speaker 1: on in New York and around the world. Good morning, Michael, 427 00:23:48,320 --> 00:23:51,040 Speaker 1: Good morning Nathan. New Jersey drivers may soon have to 428 00:23:51,160 --> 00:23:54,680 Speaker 1: pump their own gas. The New Jersey legislature introduce some 429 00:23:54,800 --> 00:23:58,040 Speaker 1: measure that would allow residents the option to pump their 430 00:23:58,080 --> 00:24:01,960 Speaker 1: own gas or continue with old service from an attendant. 431 00:24:02,320 --> 00:24:04,920 Speaker 1: New Jersey doesn't allow drivers to pump their own gas 432 00:24:05,040 --> 00:24:08,560 Speaker 1: by law. Many drivers love the full service law, but 433 00:24:08,760 --> 00:24:12,880 Speaker 1: station owners say changing it would help offset rising gas 434 00:24:13,040 --> 00:24:16,800 Speaker 1: prices and workers shortages. A mask mandate for students in 435 00:24:16,920 --> 00:24:20,800 Speaker 1: schools ends in New York State starting today. Governor Kathy 436 00:24:20,840 --> 00:24:24,960 Speaker 1: Hokel says that new cases have dropped. The mandate is 437 00:24:25,000 --> 00:24:27,560 Speaker 1: still in place for New York City students for now. 438 00:24:28,080 --> 00:24:31,320 Speaker 1: It's a milestone Hong Kong does not want. According to 439 00:24:31,600 --> 00:24:35,440 Speaker 1: local media, the city will report more than fifty thousand 440 00:24:35,680 --> 00:24:40,600 Speaker 1: confirmed COVID cases today. Hong Kong's spiraling outbreak has seen 441 00:24:40,720 --> 00:24:44,600 Speaker 1: thousands of residents flee, while those remaining strip shelves of 442 00:24:44,720 --> 00:24:48,320 Speaker 1: food and medicine. There were demonstrations about the controversial bill 443 00:24:48,400 --> 00:24:51,639 Speaker 1: in Florida. Protests were held outside city Hall in Miami 444 00:24:51,720 --> 00:24:55,679 Speaker 1: Beach as Florida so called Don't Say Gay Bill advances. 445 00:24:55,960 --> 00:25:00,280 Speaker 1: The measure aims demands speaking about sexual orientation or gender 446 00:25:00,400 --> 00:25:07,680 Speaker 1: identity in schools. It's extremely harmful to year. Respective. Supporters 447 00:25:07,720 --> 00:25:10,119 Speaker 1: of the bill say it's not to demonize certain groups. 448 00:25:10,400 --> 00:25:12,480 Speaker 1: Just says that we don't talk about these sorts of 449 00:25:12,600 --> 00:25:15,280 Speaker 1: things till the kids are out of third grade. The 450 00:25:15,359 --> 00:25:19,000 Speaker 1: measure is officially known as the Parental Rights and Education Bill. 451 00:25:19,480 --> 00:25:23,159 Speaker 1: Democratic challenger Jessica ss Narrows has forced the primary runoff 452 00:25:23,200 --> 00:25:27,760 Speaker 1: in South Texas against conservative Democrat Representative Henry quay Are. 453 00:25:28,200 --> 00:25:30,920 Speaker 1: Neither candidate last night got more than fifty of the 454 00:25:31,000 --> 00:25:33,960 Speaker 1: vote needed to win out right. The race was among 455 00:25:34,040 --> 00:25:38,000 Speaker 1: the most heated in Texas is first in the nation primary. Meanwhile, 456 00:25:38,200 --> 00:25:40,720 Speaker 1: Democrat Beta O Rourke had a good night in the 457 00:25:40,800 --> 00:25:46,280 Speaker 1: Texas gubernatorial primary. I feel extraordinarily lucky to be here 458 00:25:46,359 --> 00:25:49,560 Speaker 1: with you tonight. It looks like from the early returns, 459 00:25:49,680 --> 00:25:52,280 Speaker 1: I will be your nominee for governor. He held a 460 00:25:52,359 --> 00:25:56,119 Speaker 1: rally and ford Worth. Rourke will face incumbent Governor Greg Abbott, 461 00:25:56,200 --> 00:25:59,520 Speaker 1: who also had a good night winning the Republican gubernatorial primary. 462 00:26:00,680 --> 00:26:05,680 Speaker 1: Will not let them win this state Governor. Rabbit spoke 463 00:26:05,720 --> 00:26:08,880 Speaker 1: to his supporters in porpos Christie Global News twenty four 464 00:26:08,920 --> 00:26:11,640 Speaker 1: hours a day on air and on Bloomberg Quick Take, 465 00:26:11,680 --> 00:26:14,880 Speaker 1: powered by more than twenty seven hundred journalist and antalists 466 00:26:14,960 --> 00:26:19,080 Speaker 1: more than twenty countries. Michael bar this is Bloomberg. Nathan okay, Michael, 467 00:26:19,119 --> 00:26:25,840 Speaker 1: thank you. Almost six thirty six on Wall Street and 468 00:26:25,960 --> 00:26:28,960 Speaker 1: John stash Our has the Bloomberg Sports Update. Thanks Nathan. 469 00:26:29,040 --> 00:26:31,960 Speaker 1: Opening day was to be March thirty one, Yankees in 470 00:26:32,119 --> 00:26:35,120 Speaker 1: Texas met at home against Washington. Those games and all 471 00:26:35,160 --> 00:26:39,080 Speaker 1: of the first two series canceled. The Baseball lockout ninth 472 00:26:39,160 --> 00:26:42,159 Speaker 1: work stoppage and MLB history continues. You can't help but 473 00:26:42,240 --> 00:26:45,119 Speaker 1: get the feeling this might last a while, both sides 474 00:26:45,200 --> 00:26:48,080 Speaker 1: blaming the other. The commissioner is Rob Manfred. From the 475 00:26:48,200 --> 00:26:52,840 Speaker 1: perspective of the Commissioner's office in the clubs um, we 476 00:26:53,000 --> 00:26:55,440 Speaker 1: are doing our very very best to try to reach 477 00:26:55,480 --> 00:26:59,320 Speaker 1: an agreement. Unfortunately, it's not something that's solely within our 478 00:26:59,400 --> 00:27:02,400 Speaker 1: Controlers two parties to reach an agreement, and we will 479 00:27:02,480 --> 00:27:06,119 Speaker 1: continue to be committed to that process. Flayers Association put 480 00:27:06,160 --> 00:27:08,480 Speaker 1: out a statement. They call this the culmination of a 481 00:27:08,600 --> 00:27:11,800 Speaker 1: decade's long attempt to break the union. It's chief Tony 482 00:27:11,840 --> 00:27:14,320 Speaker 1: clarks as the players have never been so united. The 483 00:27:14,359 --> 00:27:18,480 Speaker 1: biggest issue the competitive balanced tax that helped smaller market 484 00:27:18,560 --> 00:27:21,600 Speaker 1: teams and what a team's payroll would be yet to 485 00:27:21,720 --> 00:27:24,920 Speaker 1: start paying into that tax. Nets went to Toronto, the 486 00:27:25,000 --> 00:27:28,360 Speaker 1: unvaccinated Kyrie Irvy normally plays road games, not this one. 487 00:27:28,400 --> 00:27:31,040 Speaker 1: He's not allowed to cross the border. Raptors one one 488 00:27:31,080 --> 00:27:32,919 Speaker 1: O nine, one O eight to sweep the Home at home. 489 00:27:33,040 --> 00:27:35,160 Speaker 1: James Johnson led Brooklyn with nine team but he missed 490 00:27:35,200 --> 00:27:37,040 Speaker 1: a game winning shot at the M and Nets have 491 00:27:37,119 --> 00:27:40,200 Speaker 1: now lost fifteen of eighteen, just like the Knicks have. 492 00:27:40,440 --> 00:27:43,479 Speaker 1: Islanders lost to Colorado five to three and the Devil's 493 00:27:43,520 --> 00:27:46,280 Speaker 1: lost in Columbus four to three. Rangers host St. Louis tonight. 494 00:27:46,680 --> 00:27:50,160 Speaker 1: NFL scouting combined underway in Indianapolis and New Giants GM 495 00:27:50,320 --> 00:27:52,960 Speaker 1: Joe Shane admitted to reporters the Giants are not in 496 00:27:53,160 --> 00:27:56,320 Speaker 1: good salary Cap helped Shane needs to shed about forty 497 00:27:56,400 --> 00:27:59,600 Speaker 1: million dollars. He admitted he'd listened the trade offers for 498 00:27:59,680 --> 00:28:03,879 Speaker 1: sake on Barkley John Spanish were Bloomberg spores, Nathan John, 499 00:28:04,119 --> 00:28:06,960 Speaker 1: thank you sixty seven On Wall Street, time to take 500 00:28:07,000 --> 00:28:09,200 Speaker 1: a look at stocks, some of the names moving in 501 00:28:09,320 --> 00:28:12,480 Speaker 1: the pre market. Bloomberg Radio and TV Markets correspondent Credy 502 00:28:12,520 --> 00:28:15,359 Speaker 1: Gupta is with us on a morning where we're seeing 503 00:28:15,640 --> 00:28:18,880 Speaker 1: stocks rise for a change. But I think the real 504 00:28:18,960 --> 00:28:22,280 Speaker 1: story this morning, Creedy is the surge continuing in commodities, 505 00:28:22,320 --> 00:28:24,600 Speaker 1: what's got your eye this morning? Yeah, it absolutely is. 506 00:28:24,640 --> 00:28:26,400 Speaker 1: I think you nailed it on both fronts. First off, 507 00:28:26,440 --> 00:28:28,520 Speaker 1: coming into the office this morning and seeing green on 508 00:28:28,600 --> 00:28:32,359 Speaker 1: the screen, strange thing. Yeah, it was weird. Um. And 509 00:28:32,800 --> 00:28:34,960 Speaker 1: underneath the hood, one of the major movers is to 510 00:28:35,080 --> 00:28:39,040 Speaker 1: your point, those commodities and specifically the commodity complex and 511 00:28:39,120 --> 00:28:40,880 Speaker 1: those stocks. I mean, take a look at what's moving here. 512 00:28:40,920 --> 00:28:44,200 Speaker 1: Occidental o x Y is your taker, up three percent 513 00:28:44,320 --> 00:28:46,720 Speaker 1: in the pre market. Cotera Energy is another one c 514 00:28:46,920 --> 00:28:50,800 Speaker 1: t r A up six point two percent, Baker Hughes 515 00:28:50,880 --> 00:28:53,080 Speaker 1: b k rs to take her up two point two percent, 516 00:28:53,200 --> 00:28:55,880 Speaker 1: Haliburton as well, h A L up two point two 517 00:28:55,960 --> 00:28:58,560 Speaker 1: percent as well. The common theme between all these, and 518 00:28:58,600 --> 00:29:00,680 Speaker 1: I've been saying this over and over over against these 519 00:29:00,720 --> 00:29:03,560 Speaker 1: are the companies that have way more domestic exposure than 520 00:29:03,640 --> 00:29:06,040 Speaker 1: a broad exposure. If you're looking at the commandity complex 521 00:29:06,160 --> 00:29:08,040 Speaker 1: right now, looking at whether or not you want to 522 00:29:08,120 --> 00:29:11,000 Speaker 1: get not only Russian oil supply, but oils supply from 523 00:29:11,000 --> 00:29:13,800 Speaker 1: any part of the world, the biggest bid from essentially 524 00:29:13,840 --> 00:29:17,040 Speaker 1: oil consuming nations like the United States, China, India is 525 00:29:17,120 --> 00:29:20,560 Speaker 1: to find the sources kind of domestically to look inward 526 00:29:20,720 --> 00:29:22,920 Speaker 1: rather than um globally, and that of course it's going 527 00:29:22,960 --> 00:29:26,720 Speaker 1: to be an inflationary practice, driving prices even higher, but 528 00:29:26,840 --> 00:29:29,440 Speaker 1: also driving the energy stocks higher as well. But with that, 529 00:29:29,600 --> 00:29:31,640 Speaker 1: you're also seeing a reversal in yields, which is a 530 00:29:31,640 --> 00:29:34,720 Speaker 1: pretty big move. The tenure yield now up three basis point. 531 00:29:34,760 --> 00:29:37,320 Speaker 1: It was actually down like think a ten basis points 532 00:29:37,360 --> 00:29:39,160 Speaker 1: at its lowest point yesterday, So you are seeing a 533 00:29:39,200 --> 00:29:41,600 Speaker 1: lot of volatility in the bond market. But today with 534 00:29:41,720 --> 00:29:43,480 Speaker 1: a rise and yield you are seeing it takes some 535 00:29:43,520 --> 00:29:45,920 Speaker 1: of those bank stocks higher as well. Bank of America 536 00:29:46,000 --> 00:29:48,480 Speaker 1: b A, C S R Taker up one point three percent, 537 00:29:48,600 --> 00:29:51,200 Speaker 1: City a similar story, up nine tenths of one percent. 538 00:29:51,600 --> 00:29:54,440 Speaker 1: UH Wells Fargo w FCS taker their up eight tenths 539 00:29:54,480 --> 00:29:56,800 Speaker 1: of one percent. So really once again those value trades 540 00:29:57,200 --> 00:30:00,440 Speaker 1: coming back, but not necessarily because of a recovery, but 541 00:30:00,560 --> 00:30:02,840 Speaker 1: more because um this kind of reversal of what you 542 00:30:02,880 --> 00:30:06,880 Speaker 1: saw yesterday. Are we seeing changes in volume with this rally? 543 00:30:07,600 --> 00:30:10,040 Speaker 1: We are seeing changes in volume, But remember, as you 544 00:30:10,120 --> 00:30:13,440 Speaker 1: start to see UH selling selling will always have more 545 00:30:13,560 --> 00:30:16,920 Speaker 1: volume than am buying will. So if you see less 546 00:30:16,960 --> 00:30:20,280 Speaker 1: volume today, that's just because we've had such a aggressive 547 00:30:20,680 --> 00:30:22,600 Speaker 1: couple of weeks and I should say starts since the 548 00:30:22,640 --> 00:30:24,720 Speaker 1: start of the year of selling, where you have seen 549 00:30:24,720 --> 00:30:27,400 Speaker 1: that elevated volume. But today it'll be interesting to see 550 00:30:27,440 --> 00:30:30,120 Speaker 1: if we keep that same amount of volume, but perhaps 551 00:30:30,160 --> 00:30:31,959 Speaker 1: in the other direction, that might signal a little bit 552 00:30:31,960 --> 00:30:35,160 Speaker 1: of a more sustainable turnaround. All right, Boomberg Radio and 553 00:30:35,200 --> 00:30:38,280 Speaker 1: TV Markets correspondent create Goopta, keeping us on top of 554 00:30:38,320 --> 00:30:40,680 Speaker 1: the pre market action, and let's take a look at 555 00:30:40,680 --> 00:30:43,040 Speaker 1: stocks as a whole ahead of the open. Yes, we 556 00:30:43,120 --> 00:30:46,120 Speaker 1: are seeing futures move higher, with SMP futures up thirty 557 00:30:46,200 --> 00:30:49,320 Speaker 1: one point, staff features up two or thirty two points, 558 00:30:49,720 --> 00:30:52,360 Speaker 1: and NASTACK futures are higher right now by a hundred 559 00:30:52,520 --> 00:30:55,560 Speaker 1: ten points. The tenure treasury is now down nine thirty seconds, 560 00:30:56,000 --> 00:30:58,560 Speaker 1: the yield one point seven five percent yield on the 561 00:30:58,640 --> 00:31:01,440 Speaker 1: two year one point four year o percent, and a 562 00:31:01,640 --> 00:31:04,320 Speaker 1: lot of the action still is in the commodity space, 563 00:31:04,400 --> 00:31:08,040 Speaker 1: with nime x crewed up four five dollars eleven cents 564 00:31:08,080 --> 00:31:10,920 Speaker 1: a hundred eight dollars fifty five cents of barrel brent 565 00:31:11,120 --> 00:31:14,400 Speaker 1: above one ten at a hundred ten dollars fifty two 566 00:31:14,600 --> 00:31:18,000 Speaker 1: cents stay with us. You're listening to Bloomberg day Break 567 00:31:22,560 --> 00:31:25,320 Speaker 1: Bloomberg eleven three oh weather, sunshine up or forties today, 568 00:31:25,400 --> 00:31:27,120 Speaker 1: chance for a shower tonight, but we'll have a mix 569 00:31:27,160 --> 00:31:30,600 Speaker 1: of sunny clouds tomorrow breezy, low forties, upper thirties for 570 00:31:30,720 --> 00:31:33,760 Speaker 1: highest partly sunny by Friday. Currently forty one in Central 571 00:31:33,800 --> 00:31:40,120 Speaker 1: Park Markets. Headlines and breaking news twenty four hours a 572 00:31:40,240 --> 00:31:43,200 Speaker 1: day at Bloomberg dot com, bloo Boomberg Business at and 573 00:31:43,400 --> 00:31:53,120 Speaker 1: at Bloomberg Quick Tape. He's a Bloomberg Business lash and 574 00:31:53,160 --> 00:31:55,720 Speaker 1: I'm Karen Moscow. Future is higher this morning, wet to 575 00:31:55,760 --> 00:31:58,000 Speaker 1: the first word breaking news desk for today's morning call. 576 00:31:58,080 --> 00:32:01,720 Speaker 1: Here's Bill Maloney. Bill, good morning, and good morning Karen. 577 00:32:01,760 --> 00:32:04,080 Speaker 1: That's right. US features are in the green, helped by 578 00:32:04,120 --> 00:32:07,560 Speaker 1: reports that Russias said it's ready to resume talks. Doubt 579 00:32:07,640 --> 00:32:10,120 Speaker 1: you just currently up two hundred twelve points, Simes gained 580 00:32:10,160 --> 00:32:13,840 Speaker 1: thirty nedase features up a hundred and thirteen. The US 581 00:32:14,000 --> 00:32:16,440 Speaker 1: ten year old at one point seven five percent, Gold 582 00:32:16,560 --> 00:32:20,280 Speaker 1: is down seventeen, oil is surging again, and bitcoin is 583 00:32:20,360 --> 00:32:23,000 Speaker 1: up by half a percent. Japan fell one point seven 584 00:32:23,040 --> 00:32:25,840 Speaker 1: percent overnight, while Europa markets are trading mostly in the 585 00:32:25,920 --> 00:32:28,160 Speaker 1: green this morning, and back in the US on the 586 00:32:28,200 --> 00:32:31,920 Speaker 1: economic front, DP employment change, and at two o'clock the 587 00:32:32,000 --> 00:32:35,960 Speaker 1: Federal Reserve releases it's beige book. After Vellis nights Salesforce 588 00:32:36,040 --> 00:32:39,360 Speaker 1: got into beat estimates, and Northster reported is trading higher 589 00:32:39,400 --> 00:32:43,040 Speaker 1: by thirty four percent in the pre market. Wrapping things up, 590 00:32:43,120 --> 00:32:45,640 Speaker 1: Chevron raised to buy over at DZ bank, All State 591 00:32:45,720 --> 00:32:48,400 Speaker 1: was raised by a Goldman Sachs, and C three AI 592 00:32:48,640 --> 00:32:52,120 Speaker 1: was raised to neutral over at JP. Morgan live from 593 00:32:52,120 --> 00:32:55,200 Speaker 1: the first breaking news descom Bill Maloney, care all right, Bill, 594 00:32:55,280 --> 00:32:56,960 Speaker 1: thank you, and to hear live breaking news over your 595 00:32:57,040 --> 00:32:59,600 Speaker 1: bloombergy tips, squawk on your termin I'll ascue you a 596 00:32:59,800 --> 00:33:02,160 Speaker 1: w UK and that's a Bloomberg business flash. Now here's 597 00:33:02,160 --> 00:33:04,520 Speaker 1: Michael Barrow with more on what's going on around the world. 598 00:33:04,640 --> 00:33:06,960 Speaker 1: Michael Karen, thank you very much. Day seven of the 599 00:33:07,200 --> 00:33:11,160 Speaker 1: Russia Ukraine conflict dawned with Russia continuing its attacks on 600 00:33:11,360 --> 00:33:16,240 Speaker 1: crowded Ukrainian cities. Last night, President Joe Biden, in a 601 00:33:16,320 --> 00:33:18,840 Speaker 1: State of the Union speech, gave his support to Ukraine. 602 00:33:19,200 --> 00:33:21,840 Speaker 1: We're giving more than a billion dollars of direct assistant 603 00:33:22,000 --> 00:33:25,000 Speaker 1: Ukraine and will continue to aid Ukrainian people as they 604 00:33:25,120 --> 00:33:29,560 Speaker 1: defend their country and help ease their suffering. Hiawa Governor 605 00:33:29,640 --> 00:33:33,360 Speaker 1: Kim Reynolds gave the GOP response to Biden's address. The 606 00:33:33,480 --> 00:33:36,880 Speaker 1: President tried to paint a different picture tonight, but his 607 00:33:37,000 --> 00:33:40,440 Speaker 1: actions over the last twelve months don't match the rhetoric. 608 00:33:41,080 --> 00:33:44,400 Speaker 1: It's not what he promised when he took office. Governor 609 00:33:44,440 --> 00:33:47,880 Speaker 1: Reynolds did say all Americans must stand united in solidarity 610 00:33:47,960 --> 00:33:50,680 Speaker 1: with the people of Ukraine. The scheduled opening day for 611 00:33:50,760 --> 00:33:54,680 Speaker 1: Major League Baseball has been canceled. No deal was reached 612 00:33:54,720 --> 00:33:58,160 Speaker 1: between the players and owners. In the NBA, the Nets 613 00:33:58,240 --> 00:34:00,720 Speaker 1: and Warriors lost, the Celtics and whiz It's one. In 614 00:34:00,760 --> 00:34:03,600 Speaker 1: the NHL, the Devil's Island News and Bruins lost. Global 615 00:34:03,680 --> 00:34:06,040 Speaker 1: News twenty four hours a day on air and on 616 00:34:06,120 --> 00:34:09,240 Speaker 1: Bloomberg Quicktake, powered by more than twenty seven under journalists 617 00:34:09,239 --> 00:34:12,920 Speaker 1: and analysts more than twenty countries. Michael bar this is Bloomberg, 618 00:34:13,040 --> 00:34:16,280 Speaker 1: Karen Ry, Michael, thank you. Sixty nine. On Wall Street, 619 00:34:16,360 --> 00:34:18,719 Speaker 1: we turned to news and science and technology Now with 620 00:34:18,800 --> 00:34:21,719 Speaker 1: the Bloomberg and j I t STEM Report, brought to 621 00:34:21,760 --> 00:34:24,360 Speaker 1: you buy New Jersey Institute of Technology and j I 622 00:34:24,440 --> 00:34:29,120 Speaker 1: T makes infrastructure ready graduates from civil engineers to transportations specialists. 623 00:34:29,400 --> 00:34:32,200 Speaker 1: If it's infrastructure and j I T grads are building it. 624 00:34:32,360 --> 00:34:34,759 Speaker 1: More at n j I T DOT E DU now 625 00:34:34,840 --> 00:34:37,839 Speaker 1: here's just making news and science, technology, engineering, and math. 626 00:34:38,320 --> 00:34:40,520 Speaker 1: Hong Kong is set to report a record of more 627 00:34:40,600 --> 00:34:44,360 Speaker 1: than fifty thousand new coronavirus infections today as according to 628 00:34:44,440 --> 00:34:48,040 Speaker 1: local media, the city's spiraling outbreak has led thousands of 629 00:34:48,120 --> 00:34:51,560 Speaker 1: residents to flee. Meanwhile, those who stay are stocking up 630 00:34:51,640 --> 00:34:55,479 Speaker 1: on food in medicine. Although Africa has contributed relatively little 631 00:34:55,520 --> 00:34:58,840 Speaker 1: to the planet's greenhouse gas emissions, the continent has suffered 632 00:34:58,880 --> 00:35:01,799 Speaker 1: some of the world's heaviest impacts of climate change, from 633 00:35:02,000 --> 00:35:05,360 Speaker 1: famine to flooding. According to a new United Nations report, 634 00:35:05,440 --> 00:35:09,360 Speaker 1: the reverberations of human cause global warming will only get worse. 635 00:35:09,680 --> 00:35:13,440 Speaker 1: It predicted that saherin flooding, heat and drought will increase, 636 00:35:13,880 --> 00:35:17,239 Speaker 1: Africa's rich array of wildlife and plants will decline, and 637 00:35:17,360 --> 00:35:21,680 Speaker 1: glaciers on its most iconic mountains will disappear in coming decades. 638 00:35:22,520 --> 00:35:25,200 Speaker 1: And the Moon is about to get walloped by three 639 00:35:25,360 --> 00:35:28,160 Speaker 1: tons of space junk, a punch that will carve out 640 00:35:28,160 --> 00:35:32,160 Speaker 1: a crater that could fit several semi tractor trailers. The 641 00:35:32,280 --> 00:35:34,480 Speaker 1: leftover rocket will smash into the far side of the 642 00:35:34,560 --> 00:35:37,520 Speaker 1: Moon at fifty eight hundred miles per hour on Friday, 643 00:35:37,880 --> 00:35:42,840 Speaker 1: away from telescopes prying eyes. It's been tumbling haphazardly throughout space, 644 00:35:42,960 --> 00:35:46,480 Speaker 1: experts belief since China launched it nearly a decade ago. 645 00:35:47,160 --> 00:35:49,600 Speaker 1: And that's a Bloomberg n j I t Stem report. 646 00:35:49,719 --> 00:35:52,200 Speaker 1: Nathan all right, Karen, thank you. We are live from 647 00:35:52,239 --> 00:35:55,320 Speaker 1: the Bloomberg Interactive Broker Studios where it's sixty one on 648 00:35:55,480 --> 00:35:57,719 Speaker 1: Wall Street Time now to check what's going on in 649 00:35:57,920 --> 00:36:00,239 Speaker 1: d C. The morning after a State of the Union 650 00:36:00,280 --> 00:36:03,160 Speaker 1: address which President Biden vowed to confront tyranny in the 651 00:36:03,200 --> 00:36:07,000 Speaker 1: war in Ukraine, President calling his top priority getting prices 652 00:36:07,120 --> 00:36:10,520 Speaker 1: under control, and his plea for unity colliding with the 653 00:36:10,600 --> 00:36:13,480 Speaker 1: reality of a still bitterly divided America. Let's bring in 654 00:36:13,480 --> 00:36:16,120 Speaker 1: Bloomberg government reporter Emily Wilkins, now part of our team 655 00:36:16,239 --> 00:36:20,040 Speaker 1: covering President Biden's first State of the Union address. Emily, 656 00:36:20,120 --> 00:36:21,840 Speaker 1: good morning, It's good to have you with us. We 657 00:36:21,920 --> 00:36:24,960 Speaker 1: saw lots of bipartisan applause when it comes to the 658 00:36:25,040 --> 00:36:28,600 Speaker 1: President rallying support for Ukraine, but when it comes to 659 00:36:28,840 --> 00:36:34,480 Speaker 1: the domestic agenda, maybe not so much in terms of bipartisanship. Yeah, 660 00:36:34,520 --> 00:36:36,480 Speaker 1: they didn't really seem to be a lot of of 661 00:36:36,719 --> 00:36:40,359 Speaker 1: lines that really got both Democrats and Republicans on their 662 00:36:40,440 --> 00:36:44,080 Speaker 1: feet that weren't about Ukraine. Why didn't you know? He 663 00:36:44,360 --> 00:36:46,879 Speaker 1: talked a little bit about the Build Back Better plan 664 00:36:47,040 --> 00:36:49,879 Speaker 1: without ever saying build back better, But he went through 665 00:36:49,880 --> 00:36:54,920 Speaker 1: the components lowering drug prices, elder care, home care, childcare, um, 666 00:36:56,000 --> 00:36:59,200 Speaker 1: climate change. But at the same point he didn't really 667 00:36:59,360 --> 00:37:02,839 Speaker 1: pick out any of those particular elements and really kind 668 00:37:02,880 --> 00:37:05,400 Speaker 1: of hold them up as sort of telling Congress, this 669 00:37:05,520 --> 00:37:08,239 Speaker 1: is the priority, this is the piece that needs to 670 00:37:08,320 --> 00:37:11,480 Speaker 1: get done. And after the speech, we heard from Senator 671 00:37:11,600 --> 00:37:15,160 Speaker 1: Joe Mansion, who didn't seem swayed at all by by 672 00:37:15,239 --> 00:37:18,120 Speaker 1: Biden's calls to do anything on that front. Mansion is 673 00:37:18,120 --> 00:37:22,480 Speaker 1: still very concerned about inflation, about bringing costs down for Americans, 674 00:37:22,920 --> 00:37:26,120 Speaker 1: and Walt Biden tried to argue that policies like will 675 00:37:26,200 --> 00:37:28,920 Speaker 1: ring the cost of prescription drugs or helping Americans with 676 00:37:29,080 --> 00:37:34,040 Speaker 1: childcare would help Americans families by bringing costs down. That 677 00:37:34,280 --> 00:37:37,000 Speaker 1: argument just didn't seem to hold sway with one of 678 00:37:37,080 --> 00:37:40,360 Speaker 1: the most important people uh in getting this legislation passed. 679 00:37:40,880 --> 00:37:43,120 Speaker 1: So it seemed as though the President wanted to sort 680 00:37:43,160 --> 00:37:46,680 Speaker 1: of reset his agenda with the calls for Congress to 681 00:37:47,200 --> 00:37:53,320 Speaker 1: do more uncertain pieces of the economic policy agenda. He 682 00:37:53,440 --> 00:37:58,360 Speaker 1: also needed to boost his own standing. Did the President 683 00:37:58,480 --> 00:38:01,080 Speaker 1: do that last night with this each How was it received? 684 00:38:02,000 --> 00:38:04,759 Speaker 1: We we'll have to see exactly what the polls say. UM. 685 00:38:05,080 --> 00:38:08,279 Speaker 1: As far as how President Biden was viewed, I think 686 00:38:08,320 --> 00:38:10,279 Speaker 1: there were a couple of major components there. I mean, 687 00:38:10,520 --> 00:38:14,160 Speaker 1: obviously President Biden's approval ratings, UH, they've been down, but 688 00:38:14,280 --> 00:38:16,759 Speaker 1: I think when I checked yesterday, I saw that only 689 00:38:17,520 --> 00:38:21,200 Speaker 1: of Americans prove on how he's doing, according to an 690 00:38:21,200 --> 00:38:24,560 Speaker 1: average of polls from five thirty eight. UH. One area 691 00:38:24,680 --> 00:38:27,279 Speaker 1: that Biden's kind of been focused on a lot where 692 00:38:27,360 --> 00:38:30,400 Speaker 1: we saw that bipartisan's apart last night was on Ukraine 693 00:38:30,880 --> 00:38:33,840 Speaker 1: UM taking a really strong home saying that the Justice 694 00:38:33,880 --> 00:38:36,640 Speaker 1: Department was going to go after the hold arts and sees, 695 00:38:36,719 --> 00:38:39,719 Speaker 1: their planes and their luxury apartments, and that was a 696 00:38:39,760 --> 00:38:43,520 Speaker 1: pretty big applause line. UM. As well as announcing that 697 00:38:43,640 --> 00:38:47,600 Speaker 1: the US would not permit Russian planes to use US airspace, 698 00:38:48,080 --> 00:38:50,480 Speaker 1: So sort of two big components there and sort of 699 00:38:50,520 --> 00:38:54,800 Speaker 1: a continuing crackdown on Russia and on Putin. Beyond that, 700 00:38:55,360 --> 00:38:57,919 Speaker 1: one of the things that really caught my ear last 701 00:38:58,080 --> 00:39:02,360 Speaker 1: night was President by Iden talking about the police. H 702 00:39:02,440 --> 00:39:05,960 Speaker 1: He specifically said that they're needed to fund the police, 703 00:39:06,200 --> 00:39:08,880 Speaker 1: not defund the police, which has become a bit of 704 00:39:09,040 --> 00:39:12,719 Speaker 1: a catchphrase that's been used against a number of Democrats. Um, 705 00:39:12,840 --> 00:39:15,920 Speaker 1: and that was actually an applause line. I saw Republican 706 00:39:15,960 --> 00:39:19,520 Speaker 1: House Leader Kevin McCarthy, S C. Schulee is standing up 707 00:39:19,600 --> 00:39:22,160 Speaker 1: applauding that, and I think that really speaks to the 708 00:39:22,239 --> 00:39:26,080 Speaker 1: fact that Democrats know that Republicans are going to make 709 00:39:26,160 --> 00:39:30,840 Speaker 1: crime a big piece of the upcoming midterm elections, and 710 00:39:31,000 --> 00:39:33,279 Speaker 1: this is a way for President Biden to kind of 711 00:39:33,360 --> 00:39:35,759 Speaker 1: get out in front of some of those attacks and 712 00:39:35,920 --> 00:39:39,040 Speaker 1: give some of his more vulnerable Democrats the cover that 713 00:39:39,160 --> 00:39:40,920 Speaker 1: they need to be able to go back to their 714 00:39:40,960 --> 00:39:44,160 Speaker 1: constituents and say, you know, Democrats are supportive of the 715 00:39:44,200 --> 00:39:48,360 Speaker 1: police and our supportive of lowering rising crime rates. And 716 00:39:48,520 --> 00:39:51,560 Speaker 1: typically after a State of the Union address, the president 717 00:39:51,760 --> 00:39:55,560 Speaker 1: goes out and starts to campaign on the agenda to 718 00:39:55,719 --> 00:39:58,200 Speaker 1: some extent hitting the road. Is the President going to 719 00:39:58,280 --> 00:40:01,560 Speaker 1: be doing that today? Yeah, we're gonna see President Biden 720 00:40:01,800 --> 00:40:04,800 Speaker 1: go to Minnesota. We're going to see a vice president 721 00:40:04,920 --> 00:40:08,360 Speaker 1: Kamala Harris head to North Carolina. You know, one thing 722 00:40:08,440 --> 00:40:10,480 Speaker 1: that Biden has said is that he wants to get 723 00:40:10,520 --> 00:40:15,080 Speaker 1: out more this year, that he wants to um talk 724 00:40:15,120 --> 00:40:17,320 Speaker 1: to Americans more than he wants to get outside of 725 00:40:17,640 --> 00:40:20,919 Speaker 1: Washington more. And strategist, what I've talked to you said, 726 00:40:20,960 --> 00:40:23,200 Speaker 1: this is Biden's strength to really get up there and 727 00:40:23,280 --> 00:40:26,680 Speaker 1: be talking to the American people. Um. He's someone who 728 00:40:26,880 --> 00:40:29,040 Speaker 1: even though his approval ratings are low, that a lot 729 00:40:29,080 --> 00:40:32,680 Speaker 1: of Americans still like. And you see that with Democrats 730 00:40:32,840 --> 00:40:35,160 Speaker 1: who are going to be facing tough races this November, 731 00:40:35,239 --> 00:40:37,520 Speaker 1: is still being happy to be seen with the president. 732 00:40:37,680 --> 00:40:40,759 Speaker 1: I'm you know, welcoming the president, hugging the president. That 733 00:40:40,880 --> 00:40:43,960 Speaker 1: doesn't happen if you have a very unlikable figure in 734 00:40:44,040 --> 00:40:47,280 Speaker 1: the White House. Only about thirty seconds left here. Unity 735 00:40:47,360 --> 00:40:50,080 Speaker 1: agenda was something that stood out to me. How's that 736 00:40:50,239 --> 00:40:53,920 Speaker 1: being received? The idea of a unity agenda? I think 737 00:40:53,960 --> 00:40:55,960 Speaker 1: there's a little do of reality to go in there. 738 00:40:55,960 --> 00:40:59,319 Speaker 1: I mean, yes, Um, definitely there's an acknowledgement that there 739 00:40:59,360 --> 00:41:01,800 Speaker 1: needs to be by partisanship, and if you look closely 740 00:41:02,200 --> 00:41:04,160 Speaker 1: at what the House and Senate have been focusing on, 741 00:41:04,520 --> 00:41:06,520 Speaker 1: you can actually see that they have focused on a 742 00:41:06,600 --> 00:41:09,920 Speaker 1: number of bipartisan bills and have put those forward in 743 00:41:10,080 --> 00:41:12,680 Speaker 1: the recent weeks. But I think there's also a timing 744 00:41:12,760 --> 00:41:14,879 Speaker 1: element we have to be aware of. Nathan. The first 745 00:41:15,000 --> 00:41:17,720 Speaker 1: primary of the mid term was last night in Texas. 746 00:41:18,440 --> 00:41:20,640 Speaker 1: The mid terms are are here, and that means that 747 00:41:20,760 --> 00:41:23,600 Speaker 1: it's going to be more difficult to pass any legislation 748 00:41:23,760 --> 00:41:26,320 Speaker 1: going forward. Uh, it's just sort of the time of 749 00:41:26,400 --> 00:41:29,200 Speaker 1: the clock is is quickly running out. Nine Bloomberg Government 750 00:41:29,239 --> 00:41:32,319 Speaker 1: reporter Emily Wilkins this morning after the State of the Union. 751 00:41:32,400 --> 00:41:35,960 Speaker 1: Thanks Emily, Karen Nathan, it is sixty six on Wall Street. 752 00:41:36,000 --> 00:41:38,960 Speaker 1: This is Bloomberg day Break. March is Women's History Month, 753 00:41:39,000 --> 00:41:41,640 Speaker 1: and every day this month we're celebrating significant moments in 754 00:41:41,719 --> 00:41:45,160 Speaker 1: women's history. Now with your installment for March second, here's 755 00:41:45,160 --> 00:41:48,320 Speaker 1: Bloomberg's reny to Young on this day in women's history. 756 00:41:48,400 --> 00:41:51,880 Speaker 1: In nineteen o three, the Martha Washington Hotel opens in 757 00:41:51,960 --> 00:41:54,880 Speaker 1: New York City on East twenty ninth Street, making it 758 00:41:55,000 --> 00:41:58,719 Speaker 1: the first hotel in the area exclusively for women. All 759 00:41:58,800 --> 00:42:01,719 Speaker 1: the employees were women, with chaperones and a hostess on 760 00:42:01,880 --> 00:42:05,560 Speaker 1: site at all times. Men, even doctors and priests, were 761 00:42:05,640 --> 00:42:08,920 Speaker 1: only allowed on the first floor restaurant. The opening of 762 00:42:08,960 --> 00:42:11,759 Speaker 1: the Martha Washington Hotel was the peak of more than 763 00:42:11,920 --> 00:42:14,880 Speaker 1: fifty years of poor treatment of women travelers in the 764 00:42:15,000 --> 00:42:18,200 Speaker 1: United States. Prior to the Civil War and during the 765 00:42:18,320 --> 00:42:22,120 Speaker 1: nineteenth century, people looked at female guests who traveled alone 766 00:42:22,200 --> 00:42:26,000 Speaker 1: with suspicion. So the Martha Washington Hotel marketed itself as 767 00:42:26,040 --> 00:42:29,520 Speaker 1: a venue catering especially to women traveling or visiting New 768 00:42:29,600 --> 00:42:33,480 Speaker 1: York alone. That's today in women's history. I'm Rinita Young 769 00:42:33,840 --> 00:42:37,600 Speaker 1: Bloomberg Radio. All right, Nita, thank you, and futures this 770 00:42:37,840 --> 00:42:41,960 Speaker 1: morning are on the rise. And Bloomberg Surveillance with Tom King, 771 00:42:42,080 --> 00:42:45,800 Speaker 1: Jonathan Farrell and Lisa Bramos is straight ahead for Nathan Hagar. 772 00:42:45,840 --> 00:42:48,080 Speaker 1: I'm Karen Moscow. This is Woomberg