WEBVTT - Bloomberg Daybreak: August 10, 2022 - Hour 2 (Radio) 0:00:02.560 --> 0:00:05.960 Markets, headlines and breaking news twenty four hours a day 0:00:06.080 --> 0:00:09.039 at Bloomberg dot com, The Bloomberg Business at and at 0:00:09.080 --> 0:00:19.200 Bloomberg Quick Tape Tree is a Bloomberg Business lash Nathan Hagar. 0:00:19.280 --> 0:00:23.000 Futures are moving higher as we await July cp I. 0:00:23.079 --> 0:00:24.880 Let's head right over to the first Heard breaking news 0:00:24.920 --> 0:00:28.360 desk for today's morning call with Tatiana darry A. Good morning, Tatiana, 0:00:29.400 --> 0:00:32.559 Good morning, Nathan, Like you said, Futures quiet ahead of 0:00:32.600 --> 0:00:35.880 this a big inflation report today down futures of fifty 0:00:35.880 --> 0:00:40.680 five sp Mini is down seven well, nas jack up eighteen. 0:00:40.880 --> 0:00:44.600 Treasuries are slightly lower than US Tenure yields up half 0:00:44.640 --> 0:00:47.680 a basis point to two spots seventy eight percent. Oil 0:00:47.760 --> 0:00:50.680 is down one and Bitcoin is holding just above twenty 0:00:50.720 --> 0:00:54.440 three thousand. On the economic front, today, NBA mortgage application 0:00:54.480 --> 0:00:57.960 at seven and the latest CPI print at eight thirty. 0:00:58.200 --> 0:01:00.920 In early trading this morning, Twitter is up four percent 0:01:01.080 --> 0:01:03.920 after Elon Musk said he sold in six point nine 0:01:03.920 --> 0:01:06.600 billion of Tesla shares in case he's forced to go 0:01:06.640 --> 0:01:10.880 ahead with the acquisition. Tesla shares are up to regarding earnings, 0:01:10.880 --> 0:01:14.480 Coin based down seven after the company narrowed its users 0:01:14.520 --> 0:01:18.240 forecasting mr revenue estimates and plug power is down to 0:01:18.480 --> 0:01:22.479 after its numbers. In other news, Coldberg is acquiring fifty 0:01:23.040 --> 0:01:26.720 of the United States Infrastructure Corporation in a deal valuing 0:01:26.720 --> 0:01:30.720 the company at about four billion dollars and wrapping things up, 0:01:30.800 --> 0:01:33.680 see if Industries was raised to overweight from equal weight. 0:01:33.840 --> 0:01:36.759 At Barclay's Live from the First Time Breaking News Desk. 0:01:36.920 --> 0:01:40.160 I'm Tatiana Darry and Nathan Okay. Tatiana, thanks to get 0:01:40.200 --> 0:01:43.520 live breaking news over your Bloomberg type squawk on the 0:01:43.640 --> 0:01:47.720 terminal s Q you a go, that's a Bloomberg business slash. Now, 0:01:47.760 --> 0:01:49.760 here's Michael Barr with more on what's going on around 0:01:49.760 --> 0:01:53.760 the world. Michael, thank you very much. Nathan. Businessman Tim Michael's, 0:01:53.800 --> 0:01:57.040 endorsed by former President Trump, won the Republican Prian Mary 0:01:57.080 --> 0:02:01.400 for Wisconsin Governor Michaels will face DEMA credit Governor Tony Evers. 0:02:01.720 --> 0:02:05.840 Michael's defeated former Lieutenant Governor Rebecca Cliefish, who was endorsed 0:02:05.880 --> 0:02:10.200 by former VP Mike Pence. In Connecticut, Trump endorsed Leora 0:02:10.280 --> 0:02:13.639 Levy one her gop U S Senate primary with more 0:02:13.680 --> 0:02:16.200 than fifty percent of the vote in a three way race. 0:02:16.560 --> 0:02:20.760 Levy will face Democratic incumbent Richard Blumenthal. In District four. 0:02:20.919 --> 0:02:25.480 Republican Jamie Stevenson beat Michael Goldstein with more than sixty 0:02:26.000 --> 0:02:28.680 of the vote. For US House seat, Stephen sim will 0:02:28.760 --> 0:02:32.800 run against Democratic incumbent Jim Himes and other primary racest 0:02:32.800 --> 0:02:36.320 Progressive Democrat Ilhan Omar beat out a challenger for her 0:02:36.560 --> 0:02:41.280 Minneapolis based House seat. In Vermont, Becca Blent could become 0:02:41.280 --> 0:02:44.679 the first woman to represent state in Congress. In baseball, 0:02:44.760 --> 0:02:49.360 the Yankees lost the Mets, Nationals and Orioles one the 0:02:49.400 --> 0:02:53.239 Red Sox Giants, and aid's lost. Global news twenty four 0:02:53.240 --> 0:02:56.520 hours a day on air and on Bloomberg Quicktake, powered 0:02:56.520 --> 0:02:59.160 by more than dred journalist analysts more than a hundred 0:02:59.200 --> 0:03:02.360 twenty countries. Michael bar this is Bloomberg. Nathan all right, Michael, 0:03:02.400 --> 0:03:05.640 thank you. We are live from the Bloomberg Interactive Broker Studios. 0:03:05.639 --> 0:03:08.519 An Now it's time to turn to news in scientific technology. 0:03:08.560 --> 0:03:10.880 The Bloomberg n g I T STEM Report is brought 0:03:10.919 --> 0:03:13.200 to you by New Jersey Institute of Technology, ranked to 0:03:13.200 --> 0:03:16.880 top fifty national public university by US News and World Report, 0:03:16.919 --> 0:03:19.320 top ten in the nation for engineering by Money dot com. 0:03:19.400 --> 0:03:21.840 Learn more at n j I T dot e DU 0:03:22.040 --> 0:03:25.399 now Here's what's making news and science, technology, engineering and math. 0:03:25.880 --> 0:03:29.840 Russia successfully launched in Iranian imaging satellite as the country's 0:03:30.040 --> 0:03:33.240 deepened strategic ties mid the war in Ukraine and uncertainty 0:03:33.280 --> 0:03:35.880 over the fate of the Iranian Nuclear Deal. Satellite was 0:03:35.920 --> 0:03:39.000 fired into space from a spaceport in Kazakhstan that's operated 0:03:39.000 --> 0:03:42.800 by Moscow. Meanwhile, the Indian Space Research Organizations made an 0:03:42.840 --> 0:03:46.080 effort to launch satellites using a small satellite launch vehicle 0:03:46.480 --> 0:03:49.120 has failed. Satellites were placed in the wrong orbit and 0:03:49.240 --> 0:03:51.480 we're no longer usable. According to the i s r 0:03:51.520 --> 0:03:54.600 OH chairman, India is working to develop a new generation 0:03:54.720 --> 0:03:58.640 rocket that can carry UH satellites into orbit to capitalize 0:03:58.640 --> 0:04:01.960 on the growing market in small commercial satellites and on 0:04:02.200 --> 0:04:04.720 high precision industry. Company, the maker of most of the 0:04:04.760 --> 0:04:08.280 world's iPhones, posted a profit that beat estimates as demand 0:04:08.320 --> 0:04:10.720 for its cloud products helped it whether supply chain snarls 0:04:10.760 --> 0:04:13.400 and sluggish smartphone demand. On High is also making a 0:04:13.440 --> 0:04:16.720 play to expand into electric vehicles. That's the Bloomberg n 0:04:16.760 --> 0:04:19.760 j I T STEM Report. John all Right, Nathan and 0:04:19.760 --> 0:04:22.520 we are lying from the Bloomberg Interact Brokers studios, where 0:04:22.680 --> 0:04:25.400 it is now six fifty one on Wall Street Time 0:04:25.440 --> 0:04:27.479 down to check what's going on in d C. Among 0:04:27.520 --> 0:04:30.960 the top stories out of the nation's capital, the GOP 0:04:31.240 --> 0:04:34.760 cast Trump as victim, attacks the FBI and mid term 0:04:35.080 --> 0:04:38.640 rally cry Donald Trump will testify at our oath today. 0:04:38.800 --> 0:04:43.520 The New York ages long running civil investigation. President Biden 0:04:43.560 --> 0:04:46.039 learned of the Trump raid from media reports, according to 0:04:46.080 --> 0:04:48.919 the White House, and the Trump tax returns must be 0:04:49.000 --> 0:04:52.559 given to a House panel. That's the latest court ruling. 0:04:52.760 --> 0:04:55.720 Corporations would pay more middle class lass under the U 0:04:55.920 --> 0:04:59.800 S tax bill. And the Wisconsin primary set up a 0:05:00.080 --> 0:05:02.960 marquee battled for control of the Senate. Let sike of 0:05:03.000 --> 0:05:05.159 deeper diving into some of these stories this morning with 0:05:05.160 --> 0:05:09.120 Bloomberg Government reporter Emily Wilkins, who joins us now and 0:05:09.760 --> 0:05:13.440 good morning to you. Is the the while I was 0:05:13.480 --> 0:05:16.960 gonna say raid, but more accurately, the execution of the 0:05:16.960 --> 0:05:22.280 search warrant of Donald Trump's home yesterday? Is that energizing 0:05:22.760 --> 0:05:26.239 the Trump based at this point or even the former 0:05:26.279 --> 0:05:31.280 president himself. Well, we are really seeing Republicans unite around 0:05:31.279 --> 0:05:34.039 the former president. After the search warrant was carried out 0:05:34.120 --> 0:05:37.080 at mar Lago, you had a number of folks who 0:05:37.120 --> 0:05:41.200 are floated as potential folks who might primary Trump in 0:05:41.360 --> 0:05:46.680 a Republican presidential nomination go ahead and support to support him, 0:05:46.760 --> 0:05:49.440 say that what happened was wrong, to call out the 0:05:49.560 --> 0:05:53.080 FBI for what occurred. Um. At the same point, you 0:05:53.160 --> 0:05:55.880 do have a number of Republicans I think the most 0:05:55.880 --> 0:05:59.400 prominent would be Senate Minority Leader Mitch McConnell, who have 0:05:59.480 --> 0:06:02.040 basically said, look, we need to get to the bottom 0:06:02.120 --> 0:06:05.239 of which the search warrant was actually about. We need 0:06:05.440 --> 0:06:09.039 transparency as far as what they're looking for, why they 0:06:09.080 --> 0:06:12.479 are looking for it right now. From reporting from Bloomberg 0:06:12.480 --> 0:06:15.760 and others, this does seem to be related to documents 0:06:15.800 --> 0:06:18.359 that Trump took from the White House that should have 0:06:18.440 --> 0:06:23.559 remained under federal protection. We actually uh number earlier this year. 0:06:23.640 --> 0:06:26.200 We had folks from the National Archives go down tomorrow 0:06:26.279 --> 0:06:30.200 Lago remove about fifteen boxes of documents. Manus in reporting 0:06:30.400 --> 0:06:34.800 from the Washington Post that additional boxes of information were taken. 0:06:34.880 --> 0:06:37.880 Of course, this is a different investigation than what we're 0:06:37.880 --> 0:06:41.120 seeing the Justice Department look at over January, six different 0:06:41.120 --> 0:06:44.360 than the January six House panel also different. And then 0:06:44.400 --> 0:06:47.320 the New York Attorney General who's been looking at the 0:06:47.320 --> 0:06:50.480 former president um for his real estate. Okay, before we 0:06:50.520 --> 0:06:53.680 get to the next investigation, what is the White House saying? 0:06:54.520 --> 0:06:56.440 So at this point, the White House is kind of 0:06:56.520 --> 0:07:00.560 letting the investigation go forward. Uh. President by and you 0:07:00.600 --> 0:07:02.960 know he found first found out about this report via 0:07:03.000 --> 0:07:06.520 media reports, as you mentioned. And Biden is really trying 0:07:06.560 --> 0:07:08.839 to take a very hands off approach share with what 0:07:08.920 --> 0:07:12.560 Attorney General Merrick Garland does. Biden's trying to say that, 0:07:12.600 --> 0:07:15.800 you know, Garland has the the ability and the authority 0:07:15.960 --> 0:07:18.120 and the space to do what he feels needs to 0:07:18.120 --> 0:07:19.760 be done, and the White House does not want to 0:07:19.800 --> 0:07:24.680 pressure him in any regard. Uh. There is another investigation, well, 0:07:24.920 --> 0:07:28.840 numerous investigations, the one that you mentioned with the New 0:07:28.920 --> 0:07:31.960 York Attorney channel. Can you explain what's happening on that 0:07:32.000 --> 0:07:34.280 front today? Yeah, So this has been a long run 0:07:34.360 --> 0:07:38.080 and long running investigation into Trump's real estate dealings. There 0:07:38.080 --> 0:07:41.280 are allegations that Trump misstated the value of properties like 0:07:41.360 --> 0:07:45.240 his skyscraper and golf courses. Another there's already been some 0:07:45.280 --> 0:07:48.920 depositions taken. This has been a long ruting investigation at 0:07:48.960 --> 0:07:52.040 this point. But we know that Trump did post on 0:07:52.200 --> 0:07:55.800 a truth social media media today that he is going 0:07:55.840 --> 0:07:59.360 to be questioned by New York Attorney General. Uh in 0:07:59.400 --> 0:08:02.880 this investor action. Okay, that's in person that supposed to 0:08:02.920 --> 0:08:06.360 take place today, I believe, right. Yes, Um, also a 0:08:06.440 --> 0:08:09.600 Cork ruling that goes against the former president on his 0:08:10.040 --> 0:08:13.280 tax returns. Can you tell us more? Yeah? So the 0:08:13.360 --> 0:08:16.440 Houseways Means Committee has been trying to get a hold 0:08:16.560 --> 0:08:20.760 of Trump's tax returns since two thousand nineteen, and at 0:08:20.800 --> 0:08:23.320 this point, we finally got a federal Court of Appeals 0:08:23.520 --> 0:08:26.119 giving them the green light to do so, saying, yes, 0:08:26.400 --> 0:08:29.280 you under you know, current law and current authority, you 0:08:29.320 --> 0:08:32.080 are allowed to have these tax returns. And so the 0:08:32.080 --> 0:08:35.120 committee is expecting to get them, they said pretty quickly. 0:08:35.559 --> 0:08:37.920 UM will learn more about what is in them at 0:08:37.960 --> 0:08:40.079 this point, as well as if there's going to be 0:08:40.120 --> 0:08:42.640 any sort of legislation that Congress does. I mean, there 0:08:42.679 --> 0:08:46.400 has been a president that presidents usually or candidates do 0:08:46.720 --> 0:08:51.480 disclose their taxes just for full transparency with the American people. 0:08:51.720 --> 0:08:54.600 But obviously that's not a law, that's not a requirement. 0:08:55.000 --> 0:08:57.920 And so how Speaker Nancy Pelosi yesterday told me in 0:08:57.960 --> 0:09:00.960 a couple other reporters that she'll leave it to the committee, 0:09:00.960 --> 0:09:03.320 the Ways and Means Committee, to look into whether actual 0:09:03.360 --> 0:09:06.920 additional legislation is needed at this point, but expect to 0:09:06.920 --> 0:09:10.920 hear more revelations about that in the coming weeks. And finally, 0:09:11.040 --> 0:09:13.000 we'll have to do this one. About a minute or so, 0:09:13.160 --> 0:09:17.440 the uh, the tax bill, the US tax bill, corporations 0:09:17.480 --> 0:09:20.120 would pay more, middle class less. I didn't know there 0:09:20.160 --> 0:09:23.240 was a middle class laft by the way. I mean, 0:09:23.559 --> 0:09:25.840 it's there are a lot of people, I think who 0:09:25.880 --> 0:09:28.800 would would share your sentiment. But basically this bill is 0:09:28.840 --> 0:09:31.560 showing that Democrats it's going to do a lot of 0:09:31.559 --> 0:09:34.840 what Democrats will actually push it for, um, that corporations 0:09:34.840 --> 0:09:37.240 are going to have to pay two hundred nineties six 0:09:37.360 --> 0:09:40.840 billion more in US taxes over the next decade, as 0:09:40.880 --> 0:09:44.160 well as middle income households could be seen some tax 0:09:44.240 --> 0:09:47.000 cuts under this tax and climate bill. Remember this is 0:09:47.040 --> 0:09:49.760 a bill was initially the Build Back Better, It got 0:09:49.760 --> 0:09:53.080 really paired down. It passed the Senate last week, and 0:09:53.120 --> 0:09:55.080 the House is going to be taking a vote on Friday, 0:09:55.120 --> 0:09:57.960 where it's expected to pass and actually go to Biden's 0:09:58.000 --> 0:10:00.440 dust to be signed into law. Expe to hear a 0:10:00.440 --> 0:10:03.280 lot about this Democrats talking about it come November on 0:10:03.320 --> 0:10:06.360 the campaign trail, and also expect Republicans to be talking 0:10:06.400 --> 0:10:09.440 about it as well, because there have been various reports 0:10:09.480 --> 0:10:12.280 coming out on this bill doing the analysis, and some 0:10:12.360 --> 0:10:15.160 of them have suggested that some folks could see an 0:10:15.160 --> 0:10:18.040 increase in taxes under this Who are who make less 0:10:18.080 --> 0:10:20.640 than four hundred thousand dollars a year? All right, thanks 0:10:20.720 --> 0:10:23.600 very much, Bloomberg, Simbly Wilkins. You can read more about 0:10:23.640 --> 0:10:27.360 these stories Bloomberg dot com or the Bloomberg terminal. Also 0:10:27.640 --> 0:10:30.679 a reminder, you can follow all the latest Bloomberg Radio 0:10:30.679 --> 0:10:34.560 in Washington. That's Bloomberg and One on five point seven 0:10:34.600 --> 0:10:38.160 FM HD two. Now ahead of the cash open on 0:10:38.240 --> 0:10:41.280 Wall Street. Down futures there are up sixty eight points, 0:10:41.280 --> 0:10:43.520 that's up to tens of a percent, smp E Many 0:10:43.600 --> 0:10:46.720 Futures nine points higher right now, that's up to tents, 0:10:46.760 --> 0:10:50.360 and the nasdak E Many Futures thirty one points. That's 0:10:50.440 --> 0:10:52.959 a rise of about two tents of a percent. That 0:10:53.040 --> 0:10:55.640 could all change at a thirty Well Street time. That's 0:10:55.640 --> 0:10:58.800 where we can get the US inflation print that could 0:10:58.880 --> 0:11:02.600 show the biggest low down since the April of twenty 0:11:02.880 --> 0:11:06.600 twenty of the headline at least decembating eight points seven 0:11:06.679 --> 0:11:10.400 percent last mom That is among the expectations you've been 0:11:10.440 --> 0:11:13.920 listening to do. Bloomberg Daybreak just ahead bloombergs of Amance 0:11:16.760 --> 0:11:21.320 broadcasting live from the Bloomberg Interactive Broker Studio in New York. 0:11:21.440 --> 0:11:26.120 Bloomberg Living Freedom to Washington, d C, Bloomberg On to Boston, 0:11:26.200 --> 0:11:30.000 Bloomberg one O six one to San Francisco, Bloomberg sixty 0:11:30.160 --> 0:11:32.760 to the country, Sirius XM to the one nine team, 0:11:32.880 --> 0:11:36.040 and around the globe the Bloomberg Business apt and Bloomberg 0:11:36.120 --> 0:11:45.520 Radio dot Com. This is Bloomberg Daybreak. It is six 0:11:45.559 --> 0:11:48.439 thirty on Wall Street. Good morning, I'm John Tucker, Nathan Hager. 0:11:48.480 --> 0:11:50.079 We're about three hours away from the open of you 0:11:50.200 --> 0:11:52.080 as trading time for the five things you need to 0:11:52.120 --> 0:11:54.520 notice start your day. Brought to you by Interactive Broker's 0:11:54.520 --> 0:11:57.760 Global Analysts helps you find new global investment opportunities, to 0:11:57.800 --> 0:12:01.120 diversify your portfolio and discover or valued companies that may 0:12:01.200 --> 0:12:03.800 have greater growth potential. Try I v K our Global 0:12:03.840 --> 0:12:06.880 Analysts today at I v k R dot com slash 0:12:07.000 --> 0:12:09.360 g A. We're just about two hours away from the 0:12:09.360 --> 0:12:13.200 release of this morning's inflation print. Economists predicted deceleration in 0:12:13.280 --> 0:12:17.040 consumer prices for July after a hotter than expected June rating. 0:12:17.240 --> 0:12:21.080 Sylvia Jablonski is CEO at the Fine CTFs. Even if 0:12:21.080 --> 0:12:24.080 it surprises us to the downside, which will be positive 0:12:24.120 --> 0:12:26.000 for equities, I think we'll get a little rally off 0:12:26.000 --> 0:12:28.480 of something like that. It doesn't really change the picture 0:12:28.520 --> 0:12:30.200 in the short term in terms of what the FETE 0:12:30.240 --> 0:12:33.360 has to do to get to neutral. Sylvia jablonskia defined CTF, 0:12:33.440 --> 0:12:36.480 says the recent market pullback is presenting opportunity for long 0:12:36.600 --> 0:12:39.120 term investors. And this morning we're learning about the impact 0:12:39.120 --> 0:12:43.120 of President Biden's Inflation Reduction Act. It's said to become 0:12:43.200 --> 0:12:45.480 law in the coming days. One major bank says the 0:12:45.600 --> 0:12:49.760 bill will hardly impact prices at all. Bloomberg's re Nata. 0:12:49.880 --> 0:12:52.240 John joins US Live Now with that story. Good morning 0:12:52.240 --> 0:12:55.280 with Nada, Good morning John. The Inflation Reduction Act is 0:12:55.400 --> 0:12:58.680 estimated to reduce the federal budget deficit by about three 0:12:58.720 --> 0:13:02.040 hundred billion dollars or with the next decade. But JP 0:13:02.160 --> 0:13:05.520 Morgan Chase economists say the law will have almost no 0:13:05.600 --> 0:13:08.440 effect on the price growth that's currently running at the 0:13:08.520 --> 0:13:13.000 fastest pace in four decades. The nonpartisan Congressional Budget Office, 0:13:13.160 --> 0:13:16.559 the Committee for a Responsible Federal Budget, and the Penwharton 0:13:16.679 --> 0:13:19.760 Budget Model all agree that the legislation will have a 0:13:19.880 --> 0:13:23.480 minimal influence on inflation. Live in New York, I'm rennit 0:13:23.520 --> 0:13:26.200 a Young Bloomberg Day Break, Okay, Nita. Thanks to corporate 0:13:26.200 --> 0:13:29.360 earnings Now, Disney releases quarterly results after the close today. 0:13:29.360 --> 0:13:33.080 In Bloomberg's Jeff Ballinger has a preview. Bloomberg Intelligence says 0:13:33.160 --> 0:13:36.920 the entertainment giant appears to be firing on almost all cylinders. 0:13:37.080 --> 0:13:40.400 Disney Plus is doing well. The consensus is that the 0:13:40.440 --> 0:13:44.560 streaming video service added nine point seven million subscribers during 0:13:44.559 --> 0:13:47.160 the quarter. The loss of the streaming rights to Indian 0:13:47.200 --> 0:13:50.559 Premier League Cricket could force Disney to cut it. Subscriber 0:13:50.600 --> 0:13:54.199 targets demanded. Theme Parks has been strong that division may 0:13:54.240 --> 0:13:59.000 report an operating profit that exceeds consensus. Jeff Bollinger Bloomberg 0:13:59.080 --> 0:14:01.760 day Break, Jeff thanks to earnings and crypto disappointed at 0:14:01.800 --> 0:14:05.400 her coin Base posted a record's second quarter loss and 0:14:05.520 --> 0:14:08.320 lower than expanded revenue. Yesterday and this morning, John, we're 0:14:08.400 --> 0:14:11.000 learning about another share sale by Elon Musk. He's unloaded 0:14:11.000 --> 0:14:14.040 another nearly seven billion dollars in Tesla stock, according to 0:14:14.080 --> 0:14:17.880 regulatory filings. Sale comes as must faces legal challenges in 0:14:17.880 --> 0:14:19.960 his bid to pull out of a deal to buy Twitter. 0:14:20.080 --> 0:14:21.720 That's the five things you need to know to start 0:14:21.720 --> 0:14:24.600 your day, brought to you by Interactive Brokers and straight 0:14:24.600 --> 0:14:27.920 Ahead will bring you local headlines and a check of sports. 0:14:27.920 --> 0:14:35.600 This is Bloomberg alright, Thanks Nathan sixty three on Wall Street, 0:14:35.720 --> 0:14:38.000 and it's time to bring in Michael Bart and tell 0:14:38.080 --> 0:14:39.800 us what else is going on in New York and 0:14:40.360 --> 0:14:42.760 around the world, John, thank you very much. A deadly 0:14:42.800 --> 0:14:46.080 bus crash on the New Jersey Turnpike last night. Authorities 0:14:46.080 --> 0:14:49.880 say a double decker bus transporting passengers from New York 0:14:49.920 --> 0:14:54.560 to Philadelphia overturned near Woodbridge. Sergeant Lawrence Peel of the 0:14:54.560 --> 0:14:57.840 State Police spoke to reporters. We are confirming right now 0:14:58.000 --> 0:15:03.280 one fatality and five serious injuries as results of the explosion. 0:15:03.800 --> 0:15:06.280 Sergeant Peel says the bus also hit a pickup truck. 0:15:06.640 --> 0:15:09.760 Former President Donald Trump will be questioned under oath today 0:15:09.800 --> 0:15:13.280 and the New York Attorney General's long running civil investigation 0:15:13.680 --> 0:15:16.480 into his dealings as a real estate mogul. The White 0:15:16.480 --> 0:15:19.320 House as President Biden and AIDS were not giving the 0:15:19.400 --> 0:15:22.880 heads up on the FBI raid on former President Trump's 0:15:22.960 --> 0:15:25.960 Mara logo estate and learned about the search from news reports. 0:15:26.200 --> 0:15:30.040 White Nose Press Secretary Karine Jean Pierre. President Biden has 0:15:30.080 --> 0:15:33.520 been unequivocal since the campaign. He believes in the rule 0:15:33.560 --> 0:15:36.720 of law, in the independence of Justice Department of the 0:15:36.760 --> 0:15:41.200 Justice Department investigations. Meanwhile, Trump supporters are speaking out about 0:15:41.240 --> 0:15:44.760 the search. House Minority Leader Kevin McCarthy, you should never 0:15:45.200 --> 0:15:49.400 use the Justice Department on a political whim like this, 0:15:49.520 --> 0:15:51.800 and I think that's the real question that we're looking at. 0:15:52.280 --> 0:15:55.240 House Minority Leader McCarthy called for oversight of the d 0:15:55.320 --> 0:15:59.480 O J. Primary elections were held in four states. Tim Michael's, 0:15:59.760 --> 0:16:04.280 by former President Trump, won the Wisconsin GOP gubernatorial nomination 0:16:04.600 --> 0:16:08.800 with of the votes over former Lieutenant Governor Rebecca Cliffish, 0:16:08.840 --> 0:16:12.360 who was endorsed by former VP Mike Pence. Michael's thanked 0:16:12.360 --> 0:16:15.200 his supporters late last night. Since I was a young 0:16:15.280 --> 0:16:18.040 boy where I helped farmers bail Hay and pick Rocks. 0:16:18.080 --> 0:16:20.320 I know how to do a hard day's work, and 0:16:20.360 --> 0:16:23.040 the hard working people in Wisconsin deserve to have a 0:16:23.120 --> 0:16:26.400 leader who understands how hard they're working and will lead 0:16:26.440 --> 0:16:30.760 by example. Tom Michaels will face Democratic Governor Tony Evers. 0:16:31.120 --> 0:16:34.960 In Connecticut. Trump endorsed Leora Levy one her g op 0:16:35.240 --> 0:16:37.600 U S Senate primary with more than fifty percent of 0:16:37.600 --> 0:16:40.120 the vote in a three way race. Levy will face 0:16:40.200 --> 0:16:44.960 Democratic incumbent Richard Bloomenthal. In District four. Republican Jamie Stevenson 0:16:45.000 --> 0:16:48.040 beat Michael Goldstein with more than sixty percent of the 0:16:48.120 --> 0:16:51.160 vote for a US out seat. Stevenson will run against 0:16:51.160 --> 0:16:54.280 Democratic can come at Jim Himes. New York City's m 0:16:54.280 --> 0:16:56.120 t A as a step closer the rolling out a 0:16:56.120 --> 0:16:59.280 concession pricing plan that would charge some mothers as much 0:16:59.280 --> 0:17:02.360 as twenty three dollars to ander Manhattan Central Business District. 0:17:02.800 --> 0:17:05.840 The tolling scenario for the plan, the first for US city, 0:17:05.880 --> 0:17:11.080 was outlined in an environmental assessment report released today. Global 0:17:11.160 --> 0:17:13.159 News twenty four hours a day on air and on 0:17:13.200 --> 0:17:16.800 Bloomberg Quittake, powered by more than twenty seven hundred journalists 0:17:16.800 --> 0:17:19.280 and analyists more than a hundred twenty countries. Michael barn 0:17:19.320 --> 0:17:25.120 this is Bloomberg. John, alright, Michael, thank you. It's six 0:17:25.200 --> 0:17:27.359 thirty six on Wall Street. It's signed out for the 0:17:27.480 --> 0:17:30.720 Bloomberg Sports Update. To answer that, here's John stats. All right, 0:17:30.800 --> 0:17:33.159 John had one nothing lost for the Yankees had happened 0:17:33.160 --> 0:17:35.600 this past Saturday in St. Louis. Last night in Seattle, 0:17:35.640 --> 0:17:38.520 the Mariners won one nothing in thirteen in names. Neither 0:17:38.600 --> 0:17:41.120 team could score despite the rule now where extra innings 0:17:41.160 --> 0:17:43.320 begin with the runner at second base. In both the 0:17:43.400 --> 0:17:46.200 tenth and eleven the Yanks killed their scoring Jan's first 0:17:46.480 --> 0:17:49.239 Andrew Bennettenni got picked off, and then Jose Travino got 0:17:49.320 --> 0:17:51.880 thrown out between second and third. Aaron Boone was asked 0:17:51.880 --> 0:17:56.960 about base running blunders. Obviously, you know we're runs are 0:17:57.119 --> 0:18:02.080 are really tough to come by. Um, you know, it's 0:18:02.119 --> 0:18:04.520 been one of the real strength list team. So I 0:18:04.520 --> 0:18:07.639 don't want to lose our coggressiveness. But but obviously we 0:18:07.640 --> 0:18:09.760 gotta be a little smarter. Aarons wanted with a couple 0:18:09.800 --> 0:18:12.000 of hits in the thirteenth, thought Jonathan Lewisa ga in 0:18:12.080 --> 0:18:14.720 thirteen inns, the Yanks only had three hits. The Mets, 0:18:14.760 --> 0:18:16.879 with their six two win over the Reds and City Field, 0:18:17.160 --> 0:18:19.960 now have a better record than the Yankees. Carlos Carrasco 0:18:20.000 --> 0:18:22.960 with his thirteenth win on runs for Francisco Lindora and 0:18:23.000 --> 0:18:25.680 Jeff McNeil. The Mets had won fourteen to the last sixteen. 0:18:26.040 --> 0:18:28.119 In the last four wins, they've only allowed a total 0:18:28.119 --> 0:18:31.320 of seven runs. The Rangers announced the new captain, twenty 0:18:31.320 --> 0:18:34.040 eight year old hard hitting defenseman Jacob true By, getting 0:18:34.040 --> 0:18:35.920 ready for his fourth season with the Blue Shirts. The 0:18:36.000 --> 0:18:38.879 Rangers have been without a captain since Ryan mcdonnald left 0:18:38.920 --> 0:18:42.159 in two thousand eighteen. In golf, Cam Smith, the Aussie 0:18:42.200 --> 0:18:44.600 who won the Open Championship last month, is the latest 0:18:44.600 --> 0:18:47.960 to join the new Live Tour. Serena Williams will retire 0:18:48.000 --> 0:18:51.280 after the upcoming US Open in New York. She has forties. 0:18:51.280 --> 0:18:53.600 He's won twenty three majors. It's one shy of the 0:18:53.600 --> 0:18:56.719 record that really needs an asterisk because Margaret Court won 0:18:56.800 --> 0:18:58.680 many of hers at the time when pros didn't even 0:18:58.680 --> 0:19:00.480 play in the major. Serena, without the doubt of the 0:19:00.560 --> 0:19:03.199 goat of women's Tennessey, said she's ready to move on 0:19:03.240 --> 0:19:06.720 to new things don't actual however, Bloomberg Sports John Jon 0:19:06.760 --> 0:19:09.080 thanks very much. It is now six thirty eight on 0:19:09.160 --> 0:19:11.159 Wall Spread, and that's time to take a look at 0:19:11.160 --> 0:19:13.000 starts some of the names that are moving to the 0:19:13.000 --> 0:19:15.520 pre market this morning. For that, we're joined by Bloomberg 0:19:15.520 --> 0:19:19.840 reporter Laura Right. Top red story has to do with 0:19:20.640 --> 0:19:24.000 Elon Musk, and of course that is moving shares of Tesla. 0:19:24.400 --> 0:19:27.480 All has to do with Twitter. What's the latest, Yeah, 0:19:27.520 --> 0:19:30.800 both has on Twitter moving to the upside. That seems 0:19:30.800 --> 0:19:33.480 an aberration, as in recent times we've become used to 0:19:33.520 --> 0:19:36.919 an inverse correlation between the path Look. Musk has sold 0:19:36.960 --> 0:19:40.120 almost seven billion dollars of his Tesla shares. You could 0:19:40.160 --> 0:19:43.880 call this a form of damage limitation. Musk is preparing 0:19:43.920 --> 0:19:47.879 for the eventuality that he may have to buy Twitter. 0:19:47.920 --> 0:19:51.080 We trying to get out of that deal. Twitter is 0:19:51.320 --> 0:19:55.000 rallying um and, in accordance to one analyst dive from Wedbush, 0:19:55.040 --> 0:19:57.639 because it seems that this deal is more likely Elon 0:19:57.720 --> 0:20:00.679 Musk may be forced to buy and the news in 0:20:00.720 --> 0:20:04.280 the crypto space this morning, what's that Yeah? Coin based 0:20:04.359 --> 0:20:06.960 down seven percent ahead of the bell look. It reported 0:20:07.000 --> 0:20:09.840 a record loss in the second quarter and revenue that 0:20:09.880 --> 0:20:13.840 fell short of expectations. Coin bas has narrowed their projection 0:20:13.960 --> 0:20:17.640 for average monthly user transactions for the rest of this year. 0:20:17.880 --> 0:20:21.880 What analysts find concerning, though, is the decrease in retail trading. 0:20:22.240 --> 0:20:25.800 That said coin base has partnerships with heavyweights such as 0:20:25.840 --> 0:20:28.240 Meta and black Rock, which will take some time to 0:20:28.320 --> 0:20:31.800 take off. Well, what is car Lots, Well, this is 0:20:31.800 --> 0:20:35.800 an auto dealer and it's agreed to merge with Shift Technologies, 0:20:35.840 --> 0:20:39.680 a fellow car dealer. Car Lots is up twenty four 0:20:39.760 --> 0:20:42.080 percent in pre market trading. This will be a stock 0:20:42.119 --> 0:20:46.159 for stock transaction and the streets, the geographic overlapp and 0:20:46.320 --> 0:20:51.480 the opportunity to unlock synergies with the new company. And finally, 0:20:51.680 --> 0:20:56.080 rob Lives that is yes, the Roadblocks is a children's 0:20:56.160 --> 0:21:01.000 and teenage GameMaker. Right now, it's down toward jeen percent. 0:21:01.359 --> 0:21:03.440 Neither do I had to look it out before, no 0:21:03.440 --> 0:21:07.560 nor a gameplayer myself, but basically it reported bookings that 0:21:07.640 --> 0:21:10.960 missed analysts estimate another one bites the dust. You could 0:21:11.080 --> 0:21:13.879 argue we saw this with Nvidia earlier this week, which 0:21:13.960 --> 0:21:17.760 itself experienced a lack of demand for chips necessary for 0:21:17.840 --> 0:21:22.160 high quality PC gaming. Now that economies have reopened, cost 0:21:22.240 --> 0:21:25.960 of living is starting to bite. Seems that demand for 0:21:26.119 --> 0:21:31.679 gaming is decreasing. Okay, Laura, thanks, I appreciate Bloomberg reporter 0:21:31.760 --> 0:21:35.040 Laura right looking at starts as a whole, ahead of 0:21:35.080 --> 0:21:37.600 the cash shop and not Walster. We have right now 0:21:37.760 --> 0:21:41.400 s and P futures, the evening futures downline points down 0:21:41.520 --> 0:21:44.679 futures there are up sixty four points that as they 0:21:44.800 --> 0:21:47.600 EMNY futures right now up thirty two points. Of course, 0:21:47.680 --> 0:21:50.760 all that could change after a thirty that's when we 0:21:50.800 --> 0:21:54.720 get the all important inflation print for the month of July. 0:21:55.480 --> 0:21:57.679 Uh And right now, as we look at treasuries, the 0:21:57.720 --> 0:22:02.000 inversion continues h fort seven negative forty seven basis point 0:22:02.040 --> 0:22:06.399 difference between twos and tans. The two's at the tenure 0:22:06.480 --> 0:22:10.119 yield right now two point seven eight percent. You're listening 0:22:10.200 --> 0:22:17.680 to Bloomberg Day Break, the Bloomberg weather from meti Rama 0:22:17.760 --> 0:22:19.679 just Rob Carol at the Cobs day giving it a 0:22:19.680 --> 0:22:22.840 partial sun maybe a thunderstorm later has in the mid eighties. 0:22:23.240 --> 0:22:27.200 Tomorrow chance at Morgan showers than partly study high temperature 0:22:27.480 --> 0:22:34.639 about eighty five degrees. Markets, headlines and breaking news twenty 0:22:34.640 --> 0:22:37.480