Speaker 1: Live from the Bloomberg Interact at Brooker Studios. This is
Speaker 1: Bloomberg day Break for Friday at fifth two. Coming up,
Speaker 1: the Shower. Investors a weight the July jobs report for
Speaker 1: signs of a slowing or strong labor market. Democrats agree
Speaker 1: at our advised version of their tax in climate bill,
Speaker 1: TESLA shareholders agree on a three for one stock split,
Speaker 1: and US health officials to clare monkey Parks a public
Speaker 1: health emergency conspiracy. Theorist Alex Jones has been ordered to
Speaker 1: pay four point one billion dollars in the Sandy Hook case.
Speaker 1: I'm Michael Blaer. More Ahead, I'm John Stash and sports
Speaker 1: the Mets at four home runs beat the Braves and
Speaker 1: the start of the Big Five Game Series. The Yankees
Speaker 1: play tonight in St. Louis. That's all straight Ahead on
Speaker 1: Bloomberg day Break on Bloomberg eleven three on New York,
Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston,
Speaker 1: Bloomberg nine sixties and Francisco Sirius x M one nineteen
Speaker 1: and around the world Bloomberg Radio dot Com and via
Speaker 1: the Bloomberg Business Actor. Thank good morning. I'm Karen Moscow.
Speaker 1: I'm Nathan Hager Bloomberg Daybreak brought to you by b
Speaker 1: n Y Melon's Pershing. We'll learned why the world's most
Speaker 1: sophisticated wealth management and institutional firms rely on Pershing to
Speaker 1: help them improve profitability, create efficiency, attract talent, and manage
Speaker 1: risk at Pershing dot Com and Futures are little change
Speaker 1: this morning six oh one on Wall Street, and we
Speaker 1: check the markets every fifteen minutes throughout the trading day
Speaker 1: on Bloomberg, Guess and p and Nasdack Future is a
Speaker 1: little change. Dal Future is higher up thirty nine and
Speaker 1: attend your treasury down to thirty seconds here at two
Speaker 1: point six nine per cent. Nathan Karen Global stocks are
Speaker 1: trading near two month high this morning. Ahead of the
Speaker 1: July jobs report. Economists, you're looking for a slowdown in
Speaker 1: the labor market. The median forecast is for a gain
Speaker 1: of tune and fifty thousand jobs. We get more from
Speaker 1: Bloomberg Smichael McKee. Since it's backward looking July is change
Speaker 1: in US payrolls won't have much value for forecasters trying
Speaker 1: to predict recession. Companies are also reluctant to let go
Speaker 1: of workers, even if businesses starting to slow given the
Speaker 1: current labor shortage. While a consensus print would be the
Speaker 1: lowest since the economy lost jobs in December, it would
Speaker 1: still be above the average of one thousand jobs created
Speaker 1: per month in the five years before the pandemic, and
Speaker 1: it would continue to reassure feed officials that rising interest
Speaker 1: rates aren't taking the economy yet. Michael McKey, Bloomberg Daybreak.
Speaker 1: All right, Michael, thank you. Another major story out of Washington.
Speaker 1: Senate Democrats are closer to passing their tax and Energy
Speaker 1: bill Arizona. Is Kirston Cinema, one of the last holdouts
Speaker 1: on the deal, now says she's on board. Now's after
Speaker 1: Democrats took out a provision that would have narrowed a
Speaker 1: tax loophole for fund managers and added a new one
Speaker 1: percent tax on stock buybacks. But there's still one hurdle left,
Speaker 1: and as according to Jim Keshler, co founder of Third
Speaker 1: Way and former legislative policy director for Majority leader Chunk Schumer,
Speaker 1: the parliamentarian is looking at this bill. There's always things
Speaker 1: that don't pass. Was called the bird bath. Some of
Speaker 1: the procedure or rules with rapid sliation, which means language
Speaker 1: will need to be tweeked. Third Way co founder Jim
Speaker 1: Kensler spoke with Our Washington corresponded Joe matthew On Bloomberg
Speaker 1: sound on the parliamentary and should rule on the bill today.
Speaker 1: Democrats could work into the weekend to vote on the
Speaker 1: measure tomorrow. We've seen new tensions between the U. S
Speaker 1: and China this morning, care and over how Speaker Nancy
Speaker 1: Pelosi's trip to Taiwan. Beijing has announced sanctions against the
Speaker 1: speaker and her immediate family. It also says it's stopping
Speaker 1: climate talks with the US, along with any military dialogue
Speaker 1: and meetings with the Defense Department. Well, we have some
Speaker 1: major news on the health front this morning, Nathan, with
Speaker 1: the US declaring a federal emergency because of monkeypox. Researchers
Speaker 1: are trying to get some answers on how to combat
Speaker 1: the disease, Bloomberg said. Baxter has the story. Health and
Speaker 1: Human Services says about sixty six undred cases nationwide, with
Speaker 1: researchers now asking questions like does a person who had
Speaker 1: a smallpox vaccine as a child have immunity? The head
Speaker 1: of the White House COVID Task Forces, dr Ash's Jack
Speaker 1: Smallpox monkey box very related to each other as viruses go,
Speaker 1: you would think that if you got vaccinated as a
Speaker 1: kid against small park, you would have protection. We don't
Speaker 1: know yet. We're still looking at the data. We are
Speaker 1: seeing some older people still get infected. Meanwhile, as well
Speaker 1: as a federal government, more and more states are declaring
Speaker 1: states of emergency as well. In San Francisco, I'm at
Speaker 1: Baxter Bloomberg Gay break. All right, thanks, turning to corporate
Speaker 1: news this morning, shares of Tesla are a little changed
Speaker 1: in the pre market. The shareholders have approved a three
Speaker 1: for one stock split. Ed Ludlow has more from our
Speaker 1: Bloomberg nine sixty news room in San Francisco. This stock
Speaker 1: split takes the shares to around three hundred dollars a share.
Speaker 1: Was first tweeted by Tesla in March, and then when
Speaker 1: this meeting was confirmed and scheduled with the agenda a
Speaker 1: month ago, we knew it was coming. And the thing
Speaker 1: that's missing for investors out there is we do not
Speaker 1: know more details about the date that this stock split
Speaker 1: becomes effective. Of you've seen this before. There was a
Speaker 1: five for one stock split in August twenty really boosted
Speaker 1: the stop the logic, bring the price down, make it
Speaker 1: more accessible, and Tesla has a massive retail investor base,
Speaker 1: said Ludlow says this explit could give a lift to
Speaker 1: Tesla shares again. They're up nearly fifty percent from a
Speaker 1: late May Low Well, Nathan. One other note from Tesla
Speaker 1: shareholder meeting has Elon Musk giving his anecdotal view on
Speaker 1: the economy. The Tesla CEO says he thinks the worst
Speaker 1: may be over when it comes to inflation. Most of
Speaker 1: our commodities, most of the things that going to Tesla,
Speaker 1: not all, but I don't know. More than half the
Speaker 1: prices are trending down in six months six months from now.
Speaker 1: That this could change obviously, but but the trend is down,
Speaker 1: which suggests that, uh, we're past peak inflation. Musk also
Speaker 1: reiterates that he expects a mild recession in the US
Speaker 1: that could last about eighteen months. We got lots of
Speaker 1: stocks on the move this morning, Karen, Following a slew
Speaker 1: of earnings Like yesterday, shares of Lift are up almost
Speaker 1: eight percent. The company says rideshare volumes are on track
Speaker 1: to exceed pre COVID levels, as it reported the highest
Speaker 1: earnings in its history. The story from Bloomberg's Charlie Pellett,
Speaker 1: it's a sign that investment to stem a shortage of
Speaker 1: drivers is paying off. Then he rose from a year
Speaker 1: earlier to nine ninety one million dollars, beating the nine
Speaker 1: hundred eighty six point seven million dollars street estimate. The
Speaker 1: quarter shows lift as approaching a full recovery from the pandemic,
Speaker 1: amid a broad based rebound in right hailing that also
Speaker 1: boosted rival Uber in the period in New York. Charlie
Speaker 1: Pellett Bloomberg Daybreak. All right, Charlie, thank you. Well, let's
Speaker 1: get a look at some other stocks on our radar
Speaker 1: this morning, and Bloomberry's John Tucker joins us live with
Speaker 1: the latest. Don Good morning, Karen. The quarterly launsed door
Speaker 1: Dash worse than what analysts expected, but the company says
Speaker 1: it's food delivery business remains healthy and growth continues in
Speaker 1: the second quarter. Well, that's what investors lashed onto door
Speaker 1: Dash shares jumping twelve percent this morning. Yelp reporting a
Speaker 1: profit and the last quarter boosting its full year, earning
Speaker 1: his guidance the online directors that strong advertising demand drove
Speaker 1: record net revenue. The shares jumped eighteen percent and Beyond Meat,
Speaker 1: slashing its revenue outlook for the full year. Shoppers are
Speaker 1: trading down for Mu's plant based food to cheaper animal proteins.
Speaker 1: Shares down over one percent this morning, Live in New York.
Speaker 1: I'm John Tucker, Bloomberg Daybreak. All right, John, Thanks X
Speaker 1: and p Futures are down one point down, futures up
Speaker 1: twenty five. Nastac features are lower by nineteen points. Straight
Speaker 1: ahead your latest local headlines and a check of sports.
Speaker 1: This is Bloomberg six oh seven on Wall Street, seventy
Speaker 1: nine degrees in Central Park. Still dealing with a crash
Speaker 1: northbound Major diagu in a Yankee Stadium. More coming up
Speaker 1: in traffic. First Michael Barr with more on what's going
Speaker 1: on in New York and around the world. Michael, thank
Speaker 1: you very much. Nathan. The Tri State area will have
Speaker 1: another hot day. Bloomberg Meteorologies. Rob Caroline has the latest. Michael.
Speaker 1: Heat advisory remains in the fact for the Tri State
Speaker 1: area until eight pm this evening. We're back up into
Speaker 1: the nineties today with the humidity of feel like it's
Speaker 1: around the hundred. Only different today over yesterday is the
Speaker 1: potential for some cooling showers and thunderstorms this afternoon. Not
Speaker 1: everyone will see them, but those folks who do could
Speaker 1: see some very heavy downpours and will remain warm through
Speaker 1: the up coming weekend. Michael rob thank you, sir. Donald
Speaker 1: Trump's lawyers are in talks with federal prosecutors over conversations
Speaker 1: the former president had with advisors and whether he'd be
Speaker 1: able to shield them from investigators of the January six
Speaker 1: that sold on the Capitol. CNN reports it is the
Speaker 1: first indication the two sides are in direct talks as
Speaker 1: the federal probe accelerates. Texas jury ruled conspiracy theorist Alex
Speaker 1: Jones must pay more than four million dollars in defamation
Speaker 1: damages for falsely claiming the twelve Sandy Hooks school shooting
Speaker 1: was a hoax. While it was less than the one
Speaker 1: hundred fifty million dollars being sought, Council Mark Bangston was
Speaker 1: happy with the verdict. It was my goal when I
Speaker 1: started on this case to get this family a multimillion
Speaker 1: dollar verdict for their pain and suffering, and I've already
Speaker 1: done that, plus additional money for the million dollars and
Speaker 1: sanction Jones, said, US Council Mark Hank Bangston says the
Speaker 1: jury returns today for the peanotive phase of the case. Meanwhile,
Speaker 1: the January six Committee has asked for texts from the
Speaker 1: infull Wars post a face off in Florida over abortion.
Speaker 1: Governor Round de Santis says he's suspended Tampa's top prosecutor,
Speaker 1: but at Hillsborough County State Attorney Andrew Warren says he's
Speaker 1: an elected official just like the governor and is not
Speaker 1: going anywhere. At issue is Warren's decision not to criminalize abortions,
Speaker 1: which a new state law bands after fifteen weeks with
Speaker 1: some exceptions. Warren says the cord already as rule the
Speaker 1: band violates Florida's constitutional right to privacy. However, the Santis
Speaker 1: said prosecutors cannot pick and choose which laws to enforce.
Speaker 1: You can exercise discretion and individual case, but that discretion
Speaker 1: has to be individualized in case specific. You can't just
Speaker 1: say you're not gonna do a certain offenses, Governor de Santis.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred
Speaker 1: journalists and analysts, are more than a hundred twenty countries,
Speaker 1: Michael Barren, this is Bloomberg, Nathan. Thanks Michael. Count up
Speaker 1: to six ten on Wall Street time for the Bloomberg
Speaker 1: Sports Update with John stesshow thanks Nathan Big granted city field,
Speaker 1: but have a playoff atmosphere. For the start of Mets
Speaker 1: frames five games in four days between the top two
Speaker 1: in the NL East, the Mets led five to nothing.
Speaker 1: They went on to win six to four, and then
Speaker 1: Elliet Atlanta by four and a half games. Four Matt
Speaker 1: home runs, Pee Alonso was twenty nine, Daniel vogelback his
Speaker 1: second in as many days, and another new Matt Tyler
Speaker 1: Naquin played his first home game of his new team
Speaker 1: home or twice. He even, I've been playing here for
Speaker 1: four years. That's a good night. But um no, man,
Speaker 1: it's the very enjoyable the fans, you know, even from
Speaker 1: you know, warming up on the line made me feel
Speaker 1: um right at home. So even going off to the
Speaker 1: left just just to make me feel good. So it's uh,
Speaker 1: it's nice to feel that way and step into the
Speaker 1: box comfortable. Carlos Carasto got to win Edwin Diaz to
Speaker 1: save the first of his twenty four saves, where he
Speaker 1: pitched two in he'to indication him how big This series
Speaker 1: is continues tonight double header tomorrow. Yankees are in St.
Speaker 1: Louis tonight, then tomorrow they'll face Jordan Montgomery, who will
Speaker 1: make his Cardinals debut against his old team. The NFL
Speaker 1: named Peter Harvey to hear its appeal of the Deshaun
Speaker 1: Watson six games suspension they wanted to be longer. Harvey
Speaker 1: is the former Attorney general for the State of New Jersey.
Speaker 1: Preseason football Hall of Fame game Can't Know High That's
Speaker 1: where Josh McDaniels grew up. He played high school games
Speaker 1: in that stadium. Longtime Patriots assistant. He's now the head
Speaker 1: coach of the Raiders, who beat Jacksonville, who is now
Speaker 1: coached by ex Eagles coach Doug Peterson. Very few starters played.
Speaker 1: No Derek Carr, No Davante Adams now a Raider. No
Speaker 1: Trevor Lawrence. The Hall of Fame ceremonies take place tomorrow.
Speaker 1: Seven inductees and Canton, John Stashuallyward Bloomberg, Sports Nick Thanks
Speaker 1: John SMP future is little change now. DAL future is
Speaker 1: up thirty five points. NaSTA futures are lower, down fourteen points.
Speaker 1: The tenure Treasury is down two thirty seconds, yield two
Speaker 1: point six nine percent to yield on the two year
Speaker 1: three point zero five percent. Ahead of July jobs. Will
Speaker 1: preview the numbers with Tom Porcelli, Senior US economist to
Speaker 1: RBC Capital Markets. This is Bloomberg Bloomberg eleven three oh
Speaker 1: weather partly sunny today, chance for showers and storms. With
Speaker 1: a heat advisor and effect till eight tonight we get
Speaker 1: up to your ninety five degrees will be in the
Speaker 1: upper eighties tomorrow. Right now seventy nine in Central Park Markets.
Speaker 1: Headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, a Bloomberg Business outland at Bloomberg Quicktake.
Speaker 1: This is a Bloomberg business flash and I'm Karen Moscow.
Speaker 1: Stocks in Europe and US stock index futures are struggling
Speaker 1: for direction. This morning is investors race for the monthly.
Speaker 1: US jobs are poor. That's likely to add to the
Speaker 1: recession debate. We checked the markets every fifteen minutes about
Speaker 1: the trading day on Bloomberg. Right now, SNP futures are
Speaker 1: a little changed. Our futures they're up thirty nes Day
Speaker 1: futures down twenty the decks. In Germany, it's down about
Speaker 1: to town about percent. Ten year Treasury down one thirty
Speaker 1: second yeld two point six nine percent, yield on the
Speaker 1: two year three point five percent. Nimex screwed oil is
Speaker 1: down a quarter percent or twenty three cents at eighty
Speaker 1: eight dollars thirty one cents a barrel. Comex schoold is
Speaker 1: down a quarter percent or four dollars thirty cents at
Speaker 1: eighteen o two sixty announce and bit coin up two
Speaker 1: point eight percent at twenty three thousand one. As a
Speaker 1: Bloomberg business flash, now here's Michael Barr with more on
Speaker 1: what's going on around the world. Michael Karen. China has
Speaker 1: announced sanctions on US House Speaker Nancy Pelosi and her
Speaker 1: immediate family members. It's over her recent trip to Taiwan.
Speaker 1: The Biden administration declared monkey pox of public health emergency.
Speaker 1: More than seven thousand cases have been detected in the
Speaker 1: US so far. A lightning strike just in front of
Speaker 1: the White House in Lafayette Square has critically injured four people.
Speaker 1: In baseball, the Mets beat the Brave six four, the
Speaker 1: Red Sox lost to the Royals. The Nationals and Giants
Speaker 1: also Lost, The A's Beat the Angels, eight seven NFL
Speaker 1: Hall of Fame game, The Raiders Over the Jaguar. Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quick Take, powered by more than twenty seven hundred
Speaker 1: journalists and analysts more than a hundred twenty countries. Michael
Speaker 1: bar and this is Bloomberg. Nathan Alright, Michael, thank you.
Speaker 1: In his sixth nineteen on Wall Street Live from the
Speaker 1: Bloomberg Interactive Broker Studios. This is Bloomberg day Break, which
Speaker 1: means we're just about two hours and ten minutes away
Speaker 1: from the release of the July payrolls report from the
Speaker 1: Labor Department. Ahead of that, we are joined live this
Speaker 1: morning by Tom Porcelli, Managing Director in chief US economist
Speaker 1: at RBC Capital Markets. Tom, it's great to speak with
Speaker 1: you this morning. We have seen signs ahead of the
Speaker 1: release of this overall report that we are getting some
Speaker 1: cooling in the labor market. What do you expect we're
Speaker 1: gonna see when the data comes out at eight thirty
Speaker 1: this morning? Yeah, good morning. Um, Look, I think this
Speaker 1: actually could be another pretty decent number. I mean, we're
Speaker 1: north of consensus. We're looking for about three twenty thousand
Speaker 1: on the headline for private UM. You know, and and
Speaker 1: that would be I don't know what that is. You
Speaker 1: probably know this better than me. Fifty or more above consensus.
Speaker 1: I think if you get a number like that, UM,
Speaker 1: I think what that does is it just sort of
Speaker 1: you know, it feeds this this narrative UM that's been
Speaker 1: put in place, but particularly starting on Monday, UM, when
Speaker 1: you had all these FED officials come out and basically
Speaker 1: unwind so much of of what Powell had said UM
Speaker 1: during the during his EFFI and C pressor, which is
Speaker 1: to say, hey, you know, look, we're not stopping the
Speaker 1: cycle anytime soon. So I think you get another strong report,
Speaker 1: and I think that's certainly UM will lend itself to UM.
Speaker 1: You know, people sort of really pushing that idea even more.
Speaker 1: I would caution against that, because even though I were
Speaker 1: expecting a pretty strong number here, UM, the reality is,
Speaker 1: as you rightly highlight, there's already factors that are suggesting
Speaker 1: to us that things are going to cool down and
Speaker 1: probably cool down pretty considerably going into your end. Well,
Speaker 1: why are you looking at the makes you think that
Speaker 1: we are going to get a stronger number than consensus?
Speaker 1: Because we did see some moderation in the jobless claims
Speaker 1: yesterday and some other signs of potentially wages as well. Yeah. No,
Speaker 1: I look, let me be very very in anyone who
Speaker 1: reasoned research no well knows this. Um. You know, we
Speaker 1: we go where the data take us. If there's a
Speaker 1: single month where our models are telling us it's going
Speaker 1: to be a decent number, that's fine. UM. But as
Speaker 1: I'm sort of fond of saying like, I'm less interested
Speaker 1: in sort of any single month's number, I'm more interested
Speaker 1: in sort of the narrative. And the narrative is exactly
Speaker 1: what you highlight. UM. So I would discount the strong number, um,
Speaker 1: even if even if we're right and you get it,
Speaker 1: because what we're looking at our things like claims UM.
Speaker 1: And again I said this yesterday with Tom Keenan the team. UM,
Speaker 1: I think what you have to keep in mind is
Speaker 1: we're up meaningfully from the lows. We're a hundred and
Speaker 1: six or six thousand UM as a low three months ago. UM,
Speaker 1: we're fifty UM from a claims perspective, that usually feeds
Speaker 1: into the into rising unemployed with a bit of a
Speaker 1: lag UM. So by the end of the year I
Speaker 1: mean we've said this many times. You could be staring
Speaker 1: at job losses. I mean, I don't think that that
Speaker 1: is um a stretch at all, Like we're not going
Speaker 1: on a limb by saying that. So uh And and
Speaker 1: just one last point, because I think you're right. If
Speaker 1: the labor backdrop was as tight as people think, then
Speaker 1: why are wage pressures slowing down right now? And and
Speaker 1: just to be clear, it's not like they've gone from like,
Speaker 1: you know, six percent to five and a half percent.
Speaker 1: They've done from six percent to like two and a
Speaker 1: half percent, right Like, there's been a meaningful slowing in
Speaker 1: in wages if you look at it the right way,
Speaker 1: and if you look at the right measure of wages.
Speaker 1: To write, average early earnings are an incomplete way of
Speaker 1: thinking about wage dynamics. You've got to look at average
Speaker 1: weekly earnings, which obviously includes the hours component um. And
Speaker 1: when you do that, you see that there's actually already
Speaker 1: been a pretty notable slowing. It sounds like you're on
Speaker 1: board with a lot of what we're hearing from FED
Speaker 1: speakers lately that they've still got a ways to go
Speaker 1: to keep hiking interest rates and keep getting inflation down.
Speaker 1: Is is the payrolls report that we get part of
Speaker 1: what's feeding into that for you know, So let me
Speaker 1: just be clear, Um, that's not the right way of
Speaker 1: characterizing our stands. I don't think that they just have
Speaker 1: to keep on like haphazardly hiking rates here. I think
Speaker 1: if they want to get rates into a restrictive territory,
Speaker 1: I'm totally sympathetic to that, And in fact, I would
Speaker 1: have argued or I have argued that we should have
Speaker 1: been there a long time ago. Um. But this notion
Speaker 1: that we're just supposed to just continue to hike rates aggressively, right,
Speaker 1: we like, without any like sort of real end in
Speaker 1: sight in the near term, I think that's foolish and
Speaker 1: I think the problem with that is it will drive
Speaker 1: us into a much deeper slowing than I think we
Speaker 1: have to have. Well, when do you think that you
Speaker 1: have fed well need to pivot away from rate hikes.
Speaker 1: What's your call on that? We've got about a minute
Speaker 1: left here, Yeah, I mean I could be very quick
Speaker 1: on that. I think that they they're done by the
Speaker 1: end of the year, and then I think an easing
Speaker 1: cycle starts shortly thereafter. All Right, Tom Porcelly, the chief
Speaker 1: US Economists at RBC Capital Markets coming in ahead of consensus.
Speaker 1: The median forecast of economists survey by Bloomberg calls for
Speaker 1: two or fifty new jobs added in the month of
Speaker 1: July and an unemployment rate of three point six percent.
Speaker 1: Tom and the team at RBC are going for three
Speaker 1: hundred thousand. We get the complete numbers eight thirty am,
Speaker 1: Wall Street Time time. Of course, we'll have full coverage
Speaker 1: for you here on Bloomberg Radio. Will get reaction as
Speaker 1: well from Labor Secretary Marty Walls shall be joining us
Speaker 1: here on Bloomberg Radio and television after the release of
Speaker 1: the July payrolls report. Tom again, thanks for your insights
Speaker 1: ahead of the release of the data. Looking ahead to
Speaker 1: the market open this morning, we have SMP futures down
Speaker 1: two points down, futures up twenty five NASDAC future is
Speaker 1: lower by twenty three points. It's been pretty much little
Speaker 1: changed throughout the early morning session. Market's kind of been
Speaker 1: waiting c mode ahead of the payrolls release. Ten Your
Speaker 1: treasuries down one thirty second, the yield two point six
Speaker 1: nine percent. Yield on the two year right now three
Speaker 1: point zero five percent. Nom X Scrude fell below ninety
Speaker 1: dollars in barrel still theree U down about a ten
Speaker 1: percent on the session. Comex gold is down four dollars
Speaker 1: eighty cents eighteen O two ten. Announced the euro one
Speaker 1: point zero two to eight against the dollar. The end
Speaker 1: is at one thirty three point zero three. You're listening
Speaker 1: to Bloomberg Dave Rake, Bloomberg eleven three oh weather heat
Speaker 1: advisory till eight tonight. We'll get up to your ninety
Speaker 1: five degrees with the chance for a shower storm uper
Speaker 1: eighties tomorrow back in the low nineties on Sunday. Right
Speaker 1: now seventy nine in Central Park, broadcasting live from the
Speaker 1: Bloomberg the Interactive Broker Studio in New York, Bloomberg E
Speaker 1: Living Freedom to Washington, d C. Bloomberg to Boston, Bloomberg
Speaker 1: one O six one to San Francisco, Bloomberg N sixteen
Speaker 1: to the Country Sirius XM chto one nineteen and around
Speaker 1: the globe the Bloomberg Business app in Bloomberg Radio dot com.
Speaker 1: This is Bloomberg Daybreak. It's six thirty on Wall Streak.
Speaker 1: Good morning. I'm Nathan Hagar and I'm Karen Moscow and
Speaker 1: We're just about three hours away from the open of
Speaker 1: US trading. It's time for the five things you need
Speaker 1: to know to start your day. Bron to you buy
Speaker 1: Interactive Brokers, Interactive Brokers Simple, ib k are Global Trader app,
Speaker 1: deposit in your local currency and trade stocks in the US,
Speaker 1: Europe and Asia. Start your free trial at ibk r
Speaker 1: dot com slash Global Trader. First. US futures are little
Speaker 1: change this morning. I have the July jobs report. The
Speaker 1: media and forecast is for again of two hundred fifty
Speaker 1: thousand jobs. That would be down from three hundred seventy
Speaker 1: two the prior month. They get more from Bloomberg's Michael McKee.
Speaker 1: The consensus forecast for job growth anticipates a bit of
Speaker 1: a labor market slowdown, but not necessarily because the economy
Speaker 1: is slowing. Companies are still reporting it's difficult to find workers,
Speaker 1: and economist surveyed by Bloomberg don't see any change in
Speaker 1: the unemployment rate. If that's the case, the Fed can
Speaker 1: continue to prioritize the fight against inflation first, continuing raising
Speaker 1: interest rates. Michael McKee, Bloomberg Daybreak. I'm Mike, thanks for
Speaker 1: following another major story this morning. Out of Washington. Senate
Speaker 1: Democrats planned to vote as soon as tomorrow on their
Speaker 1: tax and energy spending bill. Arizona's Kirsten Cinemas says she
Speaker 1: is on board after tweaks to its tax provisions. Jim Kessler,
Speaker 1: co founder Third Way, says, this does not have to
Speaker 1: be a Democrat's only bill. You know, I think if
Speaker 1: Republicans were being really honest in the Senate, if it
Speaker 1: was a secret ballot, I bet about fifteen or twenty
Speaker 1: Republicans would vote for this bill. Third Way co founder
Speaker 1: Jim Kessler spoke with our Washington correspondent Joe Matthew on
Speaker 1: Bloomberg sound On. Catch the show weekdays at five pm
Speaker 1: Eastern on Bloomberg Radio. We're seeing new tensions between the
Speaker 1: US and China. Nathan over how Speaker and Nancy Pelosi's
Speaker 1: trip to Taiwan. Beijing is announced sanctions against the speaker
Speaker 1: and her immediate family. It also says it will stop
Speaker 1: climate change talks with the US, along with any military
Speaker 1: dialogue and meetings to the U s Defense Department. And
Speaker 1: Returning to corporate news this morning, Karen shares of Tesla
Speaker 1: are down nearly one percent in early trading that's after
Speaker 1: shareholders have proved a three for one stock split. Well, Nathan,
Speaker 1: after a strong dely for stocks, some well known strategists
Speaker 1: say it's time to sell more. In this live report
Speaker 1: for the Bloomberg's John Tucker, John Bank, Karin Michael hartn
Speaker 1: At at Bank of America's his investors should fade the
Speaker 1: SMP five hundred. He maintains the bottom for the benchmark
Speaker 1: is below thirty six hundred, or percent below carred levels.
Speaker 1: He points to data showing global equity phones that outflows
Speaker 1: of two point six billion dollars in the latest period.
Speaker 1: HSBC strategist mc kepner also warning of a sharp end
Speaker 1: of the rally, changing his stance on equities to maximum
Speaker 1: underweight and Karen, all right, John, thank you. That's the
Speaker 1: five things that you need to notice start your day.
Speaker 1: Brought to you by Interactive Broker straight Ahead, your latest
Speaker 1: local headlines plus the check of sports. This is Bloomberg.
Speaker 1: Thanks on Wall Street. Seventy degrees in Central Park, still
Speaker 1: dealing with the crash northbound major dig in a Yankee Stadium.
Speaker 1: We'll get you more in traffic shortly. First, Michael Barr
Speaker 1: with what else is going on in New York and
Speaker 1: around the world. Good morning Michael, Good morning Nathan. Heat
Speaker 1: advisory remains in a fact for today and the Dry
Speaker 1: State area. Temperatures were hit ninety degrees in New York
Speaker 1: City and the humidity will broom sane. Experts say there
Speaker 1: is an increased danger for heat stroke. Give outside for
Speaker 1: extended periods of time during plenty of fluids to stay hydrated.
Speaker 1: And Texas jury rule that conspiracy theorist Alex Jones has
Speaker 1: to pay more than four million dollars and convince the
Speaker 1: story damages to the parents of one of the first
Speaker 1: graders killed in the Sandy Hook massacre. Jones pushed his
Speaker 1: false claims on his Info Wars broadcast after shooting, which
Speaker 1: left twenty six people dead, was a hoax. Plane of
Speaker 1: Attorney Mark Bankston says the verdict is just the beginning.
Speaker 1: We're not even done yet, and I'm already getting to
Speaker 1: tell my families. Yes, Mr Jones is going to transform
Speaker 1: your life with the money that we take from him.
Speaker 1: Plane of Attorney Mark Bankston says the jury returns today
Speaker 1: for the punitive phase of the trial. Hungarian Prime Minister
Speaker 1: Victor Urban addressed the Conservative Political Action Conference in Dallas Texas.
Speaker 1: Orban called on the audience to unite with him against
Speaker 1: progressive liberals. We have seen what kind of future the
Speaker 1: globally s ruling cloths has to offer, but we have
Speaker 1: a different future in mine. The global is can all
Speaker 1: go to how I have come to Texas. Orbon is
Speaker 1: a close political alle of Russian President Vladimir Putin. Britney
Speaker 1: Grinder's w NBA teammates reacted to her sentence in a
Speaker 1: Russian prison camp. Grinder's Phoenix Mercury teammates and opposing players
Speaker 1: held forty two seconds of silence before their game to
Speaker 1: show support for the basketball stars sentenced to nine years
Speaker 1: in a Russian prison camp. Forty two is the number
Speaker 1: of Grinder's Jersey Grinders coach Vanessa Nyeguard. I couldn't imagine
Speaker 1: being that situation, and she was so courageous and like
Speaker 1: continuing to be a good role model in so many
Speaker 1: ways of this impossible situation, and she showed great strength
Speaker 1: and great humility. Coach Vanessa Nyeguard. Actor Kevin Space He
Speaker 1: was ordered to pay thirty one million dollars to the
Speaker 1: House of Currents production company for alleged sexual misconduct that
Speaker 1: got him booted from the popular Netflix series and up
Speaker 1: ended his career globally twenty four hours a day on
Speaker 1: here and on Bloomberg Quick Take powered by more than
Speaker 1: twenty seven hundred journalist and analysts are more than a
Speaker 1: hundred twenty countries. Michael Barr and this is Bloomberg Naked.
Speaker 1: Thanks Michael. Follow six thirty six on Wall Street Time
Speaker 1: Now for the Bloomberg Sports Update with John stash Our.
Speaker 1: Nathan met nl East lead over Atlanta was once ten
Speaker 1: and a half games, It was cut down to a
Speaker 1: half game, and that was back up to four and
Speaker 1: a half. Four more games this weekend between the two
Speaker 1: at City Field and game tonight to tomorrow. Jacobi Grand
Speaker 1: pitches Sunday, mets Pete the phrase six four as new
Speaker 1: met Tyler and Nick went omer twice. Daniel Vogel back
Speaker 1: and Pete Alonso also went yard twenty ninth to the
Speaker 1: year for Alonso. Carlos Carrasco got to win and chest
Speaker 1: in decision by Buck show Walter to let his all
Speaker 1: star closer Edwin Diez pitched the last two innings. He
Speaker 1: had never had a six out saved before in his career.
Speaker 1: And they say my name you know I think you
Speaker 1: maybe I can face the three two or three four
Speaker 1: was fasting and maybe like like I did in l
Speaker 1: a um, questing forth the model they offer you your
Speaker 1: fail to row again, I'll say that's good. Gray told me,
Speaker 1: didn't go out and win the game. Yes, has been
Speaker 1: outstanding all season. He has struck out more than half
Speaker 1: the batters he has faced. Yankee started awaking serious and
Speaker 1: I didn't st Louis. They're only game and a half
Speaker 1: ahead of the Astros for best record in the American
Speaker 1: leagas Houston shutout Cleveland. Justin Verland or Loud only two hits.
Speaker 1: He's fifteen and three. Dodgers just played eight games with
Speaker 1: the Giants and one all eight. Although Clayton Kershaw had
Speaker 1: to leave yesterday lower back pain. The X meat Noah
Speaker 1: synder Guard got the wind is Philly's debut. The Phillies
Speaker 1: have released X Yankee shortstop d D Gregorious. He was
Speaker 1: hitting just two tin with only one home run. The NFL,
Speaker 1: appealing in the decision to suspended Shawn Watson only six
Speaker 1: games for his sexual misconduct in the NFL name former
Speaker 1: New Jersey Attorney General Peter Harvey to hear that appeal. Reportedly,
Speaker 1: Watson turned down an NFL offer to have the suspension
Speaker 1: the twelve games. John stash Yellary Bloomberg Sports, Nathan all Right, John,
Speaker 1: thank you to six thirty seven on Wall Street. Time
Speaker 1: to take a look at stocks, some of the names
Speaker 1: moving in the pre market. Lots of shares to keep
Speaker 1: an eye on this morning for Bloomberg's Laura Right, considering
Speaker 1: the parade of earnings reports we've gotten this week, and Laura,
Speaker 1: what a beat for Lift? Yeah, the U s Puel
Speaker 1: play right heating from out with second quarter results ahead
Speaker 1: of the bell, Lift is up almost eight percent. It
Speaker 1: was record earnings adjusted EBITDA of seventy nine million dollars
Speaker 1: for the quarter. That's fast a past the average analyst estimate. Look,
Speaker 1: this mirror is what we saw from Uber earlier this
Speaker 1: week as its competitors record growth booking, economic reopening clearly
Speaker 1: a tailwind along with a normalization of the driver shortage.
Speaker 1: Interesting as well, considering Lift doesn't necessarily have the same
Speaker 1: kind of broad portfolio of services that Uber offers, but
Speaker 1: that's the only gig economy company that's doing well on earnings. Exact,
Speaker 1: the delivery fund, door dash up nearly twelve percent. Now
Speaker 1: in pre market training, it was a slight beat on revenue,
Speaker 1: but notably, customers place six million orders in the three
Speaker 1: months ending June. That's record. Look, even with economic reopening
Speaker 1: and inflation eating into disposal incomes, we are all now
Speaker 1: habitual takeaway ethers. I can speak for myself, I know
Speaker 1: many others are also, So it's kind of how much
Speaker 1: that habit is ingrained within our spending habits. Yeah, and
Speaker 1: the speaking of discretionary spending, we're all keeping an eye
Speaker 1: on whether travel is starting to pick back up again,
Speaker 1: whether people are getting outside. And you look at Expedia's
Speaker 1: earnings and that's sort of playing into the story that
Speaker 1: maybe a lot of people are sort of putting the
Speaker 1: pandemic behind them. Yeah, given as a Friday, we have
Speaker 1: to discuss our holiday bookings platform now for Expedient second
Speaker 1: quarter revenue beat estimates coming in its three point one
Speaker 1: billion U S dollars. There is so much pent up
Speaker 1: demand in the sector now Expedia expect bookings in the
Speaker 1: current quarter to be ahead of where they were in
Speaker 1: twenty nine. If you remember earlier this week it was
Speaker 1: bookings that were the Achilles heel for Airbnb which projected
Speaker 1: stable bookings growth. That was what spooped the market. That said,
Speaker 1: it is still an unknown to what extent diminished disposal
Speaker 1: incomes will to tell customers, as well as all these
Speaker 1: scenes of chaos and flight cancelations at airports. So quite
Speaker 1: a few big movers in the pre market, even with
Speaker 1: the broader market little changed. Thanks for this, Laura Good,
Speaker 1: having got with the Spoomberg's law right, keep an eye
Speaker 1: on stocks on the move in the pre market and
Speaker 1: ahead of the open ahead of July. Payrolls futures are
Speaker 1: little changed. We have SMP futures right now down two points,
Speaker 1: Style futures up twenty four. NASAC futures are lower by
Speaker 1: twenty two points. Tenure treasury is down to thirty seconds.
Speaker 1: The yield two point six nine percent yield on the
Speaker 1: two year three point zero five n I'm ex scruence
Speaker 1: little changed, down eight cents, eight eight barrel. Comic skull
Speaker 1: down five dollars thirty eighteen sixty announced the Euro one
Speaker 1: point zero two to nine against the dollar. Bitcoin up
Speaker 1: three twenty three thousand, two hundred dollars. You're listening to
Speaker 1: Bloomberg day Break Bloomberg eleven three oh weather, sunshine today,
Speaker 1: Heat advisory till eight tonight. Can't roll out a shower
Speaker 1: storm going up to your ninety five degrees uprights tomorrow,
Speaker 1: back in the low nineties Sunday right now seventy nine
Speaker 1: in Central Park Markets, headlines and breaking news twenty four
Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business
Speaker 1: at and at Bloomberg Quick Tape. He's a Bloomberg Business
Speaker 1: Flash and I'm Karen Moscow at US dot Index. Future
Speaker 1: is a little change this morning as we await the
Speaker 1: July jobs are for it, we go to the first
Speaker 1: sword breaking news dance for today's morning call. Here's Bill Maloney. Bill,
Speaker 1: good morning, Good morning, Cameron. That's right. US futures are
Speaker 1: quiet right now, with doubt futures hired by thirty points.
Speaker 1: Recipes are down to one, nest that futures decline by twenty.
Speaker 1: The US ten year old at two point seven percent,
Speaker 1: Gold is down four, Oil is little change, and Bitcoin
Speaker 1: trading higher by three percent. Shanghai rose one overnight, while
Speaker 1: up markets are posting modest losses this morning. And back
Speaker 1: in the US on the economic front, like you said,
Speaker 1: the eight thirty, the July jobs report after the bell
Speaker 1: Ust Night Beyond Meat, cutted sales outlook, engine profit and
Speaker 1: sales beat estimates, and Block gross payment volume missed estimates.
Speaker 1: In other news, Tesla shareholders approved a three for one
Speaker 1: stock split and wrapping things up in Your Soul. Rand
Speaker 1: was cut to hold over at Deutsche Bank. Kellogg was
Speaker 1: raised to neutral over at Piper Live from the first
Speaker 1: to breaking news descom Bill Maloney, Cam all right, Bill,
Speaker 1: thank you, and here live breaking news over your Bloomberg
Speaker 1: taps squawk on your terminal. SQ you a w u K,
Speaker 1: that's a Bloomberg business flash. Now here's Macho Barr with
Speaker 1: more on what's going on around the world. Michael Karen,
Speaker 1: thank you very much. China said it would sanctioned House
Speaker 1: speaker Nancy Pelosi after she defied Beijing by becoming the
Speaker 1: highest ranking US politician to visit Taiwan in twenty five years.
Speaker 1: The measures are also on Pelosi's immediate family. Senate Democrats
Speaker 1: say they have reached an accord on changes to her
Speaker 1: tax legislation. It was on a Senator Kristen Cinema pivotal vote,
Speaker 1: says she is ready to move forward on the bill.
Speaker 1: In baseball, the Mets beat the Braves six four. The
Speaker 1: Red Sox lost to the Royal seven three. The Nationals
Speaker 1: and Giants also lost. The A's beat the Angels eight seven.
Speaker 1: In the NFL Hall of Fame game last night, the
Speaker 1: Raiders over the Jaguars eleven. Global news twenty four hours
Speaker 1: a day on here and on Bloomberg Quicktake, powered by
Speaker 1: more than twenty seven hundred journalists and analysts, are more
Speaker 1: than a hundred twenty countries. Michael Barr and this is Bloomberg,
Speaker 1: Karen Gray, Michael bar thank you. It is sixty nine
Speaker 1: on Wall Street. We turned to news and science and
Speaker 1: technology now with the Bloomberg and j I T STEM Report.
Speaker 1: It has brought to you by New Jersey Institute of Technology,
Speaker 1: rank to top fifty national public university by US News
Speaker 1: and World Report, and a top ten of the nation
Speaker 1: for engineering by money dot Com. Learn more at n
Speaker 1: j I T dot edu. And here's just making news
Speaker 1: and science, technology, engineering, and math. US health officials have
Speaker 1: declared monkeypox of public health emergency. That's a step that
Speaker 1: will free up funding, treatments and other services to fight
Speaker 1: the virus. The US leads the world with known cases,
Speaker 1: more than six thousand of them South Korea has joined
Speaker 1: the stampede to the Moon with the launch of a
Speaker 1: lunar orbiter that will scout out future landing spots. The satellite,
Speaker 1: launched by spake Sex, is taking a long roundabout path
Speaker 1: that can serve fuel and will arrive in December. It's successful,
Speaker 1: it will join spacecraft from the US and India already
Speaker 1: operating around the Moon, and a Chinese rover exploring the
Speaker 1: Moon's far side. And Facebook pairent Meta Platforms has sold
Speaker 1: ten billion dollars in its first ever core brid bond deal.
Speaker 1: Meta had been one of few S and P five
Speaker 1: hundred companies without debt. The company stands on borrowing may
Speaker 1: have shifted with the state of its business. Met it
Speaker 1: just posted its first quarterly revenue decline and as a
Speaker 1: Bloomberg and j A T Stem report. Nathan Karen, thank you.
Speaker 1: We are live from the Bloomberg Interactive Broker studios where
Speaker 1: it's six fifty on Wall Street. Time now to check
Speaker 1: what's going on in d C. Some of the top
Speaker 1: stories in our nation's capital include Democrats in the Senate
Speaker 1: agreeing on a revised tax and energy spending bill with
Speaker 1: stock buybacks included. China announcing sanctions against Speaker Pelosi and
Speaker 1: other countermeasures against the US after the Speaker's trip to Taiwan,
Speaker 1: and lawyers for former President Trump reportedly in talks with
Speaker 1: federal prosecutors over January six. Let's bring back Bloomberg government
Speaker 1: reporter Emily Wilkins with us from our Bloombergmanding on one
Speaker 1: studios in Washington, d C. So, Emily, when it comes
Speaker 1: to the Inflation Reduction Act, as it's known in the Senate,
Speaker 1: it sounds like the last Democratic holdout, Kirsten Cinema, may
Speaker 1: have gotten the changes she was looking for. She did, indeed,
Speaker 1: and she announced last night that she is going to
Speaker 1: be a yes on this legislation. This is a huge
Speaker 1: win for the Biden administration, the huge win for Democrats.
Speaker 1: But it's not quite done yet. They do still have
Speaker 1: to go through that Senate parliamentary and make sure that
Speaker 1: everything they want to bring through the special Reconciliation process
Speaker 1: can be brought because it ain't just anything that can go.
Speaker 1: They also have to survive what is known as a
Speaker 1: vote a rama, where Republicans will introduce many, many amendments
Speaker 1: over the course of In the past, these sins have
Speaker 1: been like forty hours trying to see if they can
Speaker 1: add some provisions to the bill that might ultimately kill it. However,
Speaker 1: Democrats are just very much ready to go forward on
Speaker 1: this one and to do what needs to be done. Remember,
Speaker 1: just a few weeks ago they didn't think they were
Speaker 1: going to get anything from this package. And the fact
Speaker 1: that you then saw that Schumer Mansion agreement emerge and
Speaker 1: really Senator Kris and Cinema was was the last piece here. Yeah,
Speaker 1: there was a note yesterday from Gregg Vali at a
Speaker 1: GF Investments saying the bill is in deep trouble. What
Speaker 1: were the changes specifically on the town ex provisions that
Speaker 1: the Senator Cinema achieved here. So the big thing, and
Speaker 1: we knew that this is going to be a problem
Speaker 1: for the Senator from the beginning, was this narrowing of
Speaker 1: the carried interest loophole. Uh. Senator Cinema has been very
Speaker 1: much against that. She wants to keep that that carried interest,
Speaker 1: the lower taxes on that in place for benefiting wealthy investors,
Speaker 1: and she didn't get that what the tradeoff was because
Speaker 1: that provision was supposed to help bring in revenue to
Speaker 1: the US. They've now added a one percent new tax
Speaker 1: on corporate stock buybacks. And they've also done a couple
Speaker 1: of tweeks to that minimum tax on corporations, and that's
Speaker 1: going to try and benefit manufacturers. So those are sort
Speaker 1: of the key changes that we're looking at. Majority Leader
Speaker 1: Truck Schumer said this bill is still going to reduce
Speaker 1: the deficit by about three billion. We are looking for
Speaker 1: additional details on that today. This deal is just announced
Speaker 1: late last night, but Senate Democrats are moving ahead with this.
Speaker 1: They've scheduled votes for Saturday on a procedural motion and
Speaker 1: they expect to work through the weekend. How much political
Speaker 1: capital is President Biden putting on pack passage of this bill,
Speaker 1: As you know, Emily, his approval ratings are very low.
Speaker 1: That's a really interesting question, Nathan. I mean, certainly this
Speaker 1: bill is something that Democrats are going to out as
Speaker 1: a win. It is something they are going to talk
Speaker 1: about on the campaign trail. But it's interesting, remember they
Speaker 1: passed that major infrastructure bill last year. When I've talked
Speaker 1: with voters and and there's been studies and research or
Speaker 1: of bearing this out, a lot of Americans still don't
Speaker 1: know that that bill was passed. They don't see any
Speaker 1: impacts on it of their daily lives, and so I
Speaker 1: think the real trick for Democrats here is it's going
Speaker 1: to have to be messaging because some of the provisions,
Speaker 1: like ones to lower drug prices, those aren't going to
Speaker 1: go into effect right away. You're not gonna wake up
Speaker 1: the day after this bill has passed and been like,
Speaker 1: oh wow, I'm now paying less for certain prescription drugs.
Speaker 1: So this is going to be important. I think any
Speaker 1: sort of major legislation like this is important, particularly as
Speaker 1: you get close to an election year. But at the
Speaker 1: same point, I don't want us of over our estimate
Speaker 1: the impact Americans are going to feel, at least not
Speaker 1: immediately after this legislation would pass. Now let's turn to
Speaker 1: geopolitics now, because there's been a lot of developments just
Speaker 1: this morning following Speaker Pelosi's visit to Taiwan, China has
Speaker 1: announced a number of countermeasures. Uh A lot here going on,
Speaker 1: Nathan Um. China has halted numerous discussions with the US
Speaker 1: on military, on climate, on immigration, on crime. They're continuing
Speaker 1: these massive military drills, these warships crossing Taiwan straight dividing line,
Speaker 1: and missile test and as we just noted a few
Speaker 1: minutes ago. They've sanctioned how Speaker Nancy Belosia as well
Speaker 1: as her family, making her the highest US official to
Speaker 1: be sanctioned. One of the things that's really notable here, Nathan,
Speaker 1: because sometimes you look at these sanctions and you're like, well,
Speaker 1: you know, it's not going to impact the Speaker's day
Speaker 1: to day life necessarily. But the US declined to sanction
Speaker 1: the number three top Chinese official over his role in
Speaker 1: imposing the National Security Law in Hong Kong. So you
Speaker 1: saw the This is a little bit of an escalation
Speaker 1: for China to put these sanctions into place. Um and
Speaker 1: certainly there's a lot of questions about how much this
Speaker 1: might continue. Yesterday, the Biden administration summoned China's ambassador to
Speaker 1: the White House to reiterate the Biden administration does not
Speaker 1: want a crisis in the region. UM. They want to
Speaker 1: keep the status quo. They don't want that to change.
Speaker 1: But now you're hearing Secretary of State Anthony B. Lincoln
Speaker 1: saying that they do believe China is trying to change
Speaker 1: the status quo around Taiwan. Certainly, this is something we're
Speaker 1: going to be following very closely. And finally, Emily reports
Speaker 1: that former President Trump's lawyers are now talking with the
Speaker 1: Justice Department in their grand jury probe into January six.
Speaker 1: This is above and beyond the House January six committee,
Speaker 1: right right. Remember, there are a number of different investigations
Speaker 1: going on, including this one by the Justice Department. This
Speaker 1: appears to be the first sign of talks between two sides, UM,
Speaker 1: as this probe has gone on, and a lot of
Speaker 1: the talks have evolved around whether Trump's going to be
Speaker 1: able to shield conversations he had while he was president,
Speaker 1: what the extent of that executive order is actually going
Speaker 1: to look like, and be Um, certainly there's there's a
Speaker 1: lot left Um in the Justice Department's investigation in the
Speaker 1: Houses January six panel, a number of different groups looking
Speaker 1: into various aspects of what Trump and his campaign did
Speaker 1: in their attempt to overturn the elections. UM, And I
Speaker 1: think the fact that these conversations are are starting at
Speaker 1: this point shows how far into the investigation they are
Speaker 1: and kind of how real some of these threats have become.
Speaker 1: Uh to Trump and two people in his orbit, Yes,
Speaker 1: he's thinking about announcing another run for president. He's very
Speaker 1: hinted that at very strongly over the last few months.
Speaker 1: Here Bloomberg Government reporter Emily Wilkins. As always, thanks for
Speaker 1: the update from Washington, d C. Get more on all
Speaker 1: these stories on Bloomberg dot com or on the Bloomberg terminal,
Speaker 1: And a reminder you can follow all the latest on
Speaker 1: Bloomberg Radio in Washington Bloomberg and one oh five point
Speaker 1: seven f m HD two. Of course, the big investor
Speaker 1: focus out of Washington, d C is the Labor Department,
Speaker 1: the release of July payrolls coming up in just about
Speaker 1: an hour and a half. Ahead of that, SMP futures
Speaker 1: are down four points, staff futures up fourteen, NASDACK futures
Speaker 1: lower by thirty points. The tenure Treasury is down to
Speaker 1: thirty seconds, yield two point six nine percent yield on
Speaker 1: the two year three point zero six percent. Nom X
Speaker 1: CREWD is down a half percent, down fifty one cents
Speaker 1: eight eight oh three gets you a barrel of West
Speaker 1: Texas Intermediate, and the Euro right now is at one
Speaker 1: point zero to three two against the dollar. Bitcoin twenty
Speaker 1: three thousand. Bloomberg Surveillance is next. Tom Keen, Jonathan Farrell,
Speaker 1: and Lisa Brown Woits take you the rest of the
Speaker 1: way for Karen Moscow. I'm Nathan Hager. This is Bloomberg.