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Speaker 1: Markets, headlines and breaking news twenty four hours a day

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Speaker 1: at Bloomberg dot Com, the Bloomberg Business and at Bloomberg

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Speaker 1: Quick Tape. This is a Bloomberg Business lash. But I'm

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Speaker 1: Karen Moscow and we continue to watch shares a Tesla

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Speaker 1: this morning up more than four and a half percent

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Speaker 1: following that poll on Elon Musk's future. Will have more

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Speaker 1: details at creating Kupta in just a moment, but first

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Speaker 1: futures are higher s and Key Future is up about

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Speaker 1: ten points or two tenths of upper sent Dal Future

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Speaker 1: is up fifty six or two tenths of upper cent,

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Speaker 1: and as Deck futures have a third of upper cent

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Speaker 1: or forty points. The decks in Germany's up four tenths

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Speaker 1: of upper cent. Ten year treasury down nine thirty seconds.

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Speaker 1: You'll three point five one per cent yield on the

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Speaker 1: two year four point one seven percent now. Max Screwed

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Speaker 1: oil is up four tenths percent or thirty three cents

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Speaker 1: at seventy four dollars sixty two cents in barrel coll

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Speaker 1: make school of a quarter percent or four dollar sixty

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Speaker 1: cents and eighteen o four eighty and ounce the euro

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Speaker 1: one point oh six oh seven against the dollar is

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Speaker 1: bound one point one eight five and again at one

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Speaker 1: thirty six point to five. And as a Bloomberg business flash,

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Speaker 1: Nathan Okay, Karen, thank you to six fifties six on

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Speaker 1: Wall Street Bloomberg surveillances. Next, first we take a look

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Speaker 1: at the names moving in the pre market with Bloomberg

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Speaker 1: Radio and TV Markets correspondent creating good dec creaty. We

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Speaker 1: have to start with Tesla while we wait for official

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Speaker 1: word from Elon Musk that he's gonna abide by the

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Speaker 1: results of that Twitter poll and step aside and presumably

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Speaker 1: focus more on his other companies. I mean that seems

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Speaker 1: to be the mentality going into the share action this morning.

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Speaker 1: T s L as your ticker about four point six

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Speaker 1: per cent. This, of course, as you mentioned, comes from

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Speaker 1: that poll which, by the way, fifty seven point five

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Speaker 1: voted yes, we do want you to resign, So that

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Speaker 1: is important when it comes to how he's going to

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Speaker 1: act next. It's also important to mention that this dynamic

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Speaker 1: that you've seen in Tesla shares is not a new one.

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Speaker 1: We've seen this with the Twitter saga altogether. Every time

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Speaker 1: Twitter shares rallied when it was public because of this

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Speaker 1: deal getting closer and closer to getting closed, Tesla shares

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Speaker 1: took a hit. So now the idea of that inverse

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Speaker 1: correlation showing up again, the idea that if he is

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Speaker 1: going to step down from Twitter, maybe Tesla will get

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Speaker 1: more of his attention. That, of course, is his main business.

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Speaker 1: So t s l A shares up about four point

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Speaker 1: six percent. Remember this comes in the backdrop of the

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Speaker 1: ev maker falling thirty three percent since the Twitter deal closed.

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Speaker 1: It still has quite a bit of a gap to

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Speaker 1: make up. Here. Shares training about a hundred and fifty

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Speaker 1: seven dollars this morning. Nathan, You know, I thought by

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Speaker 1: now this saga would end and it has not. Oh no,

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Speaker 1: It's going to continue for quite some time. I have

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Speaker 1: to imagine. And there's some other names, some pretty big

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Speaker 1: names moving on, some new analysts recommendations as well. Yeah,

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Speaker 1: Wall Street moving the stocks this morning. M r n

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Speaker 1: as your ticket from Maderna shares up about four point

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Speaker 1: six percent. Here as well, shares training around two oh

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Speaker 1: two on the nearest stock exchange gains gains about like

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Speaker 1: I said, four percent. Jeffreys upgrading the stock to buy

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Speaker 1: from my hold, saying it can rebound in on a

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Speaker 1: return of pipeline opportunities. Remember, Maderna was really under pressure

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Speaker 1: because of this idea that a lot of these code vaccinations,

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Speaker 1: which by the ways, making up a good chunk of

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Speaker 1: its bottom line, not as much as Fiser, but still

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Speaker 1: a good chunk, is actually going to lose a lot

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Speaker 1: of his momentum and revenue that's gained over the last

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Speaker 1: two years. But now Jeffrey saying, look, it's diversifying, it's

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Speaker 1: looking into cancer treatments, looking into the drug therapies. That

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Speaker 1: is all going to be a positive for the stock.

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Speaker 1: And remember, Majerna isn't alone. You've seen this with a

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Speaker 1: lot of biotech companies. J and J is a big

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Speaker 1: one who rides therapeutics and am Gin that deal a

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Speaker 1: couple of days ago. So this is becoming a bigger

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Speaker 1: and bigger theme in biotech that they are actually looking

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Speaker 1: to diversify their portfolio. Um and speaking of analyst recommendations,

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Speaker 1: let's also look at Netflix here. N f l X

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Speaker 1: is your taker up about three tenths of one percent

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Speaker 1: in the pre market. Any price target raise. Over at

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Speaker 1: Morgan Stanley, they're saying on the back of currency swings,

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Speaker 1: it's an interesting take, saying that even though the broker

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Speaker 1: has flagged risks that expectations of valuations have run it

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Speaker 1: too far, too fast, those currency swings might actually work

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Speaker 1: in Netflix's favor. Remember a lot of their new growth

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Speaker 1: is coming from abroad, not from the US, So it's

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Speaker 1: the dollar weekends. It's going to work in your favor. Yeah,

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Speaker 1: it was something that we're called read Hastings talked a

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Speaker 1: lot about in the last earnings call about potential currency

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Speaker 1: headwinds for Netflix. So a very interesting call there. Thanks

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Speaker 1: for this, Creaty. Good speaking with you. Bloomberg Radio and

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Speaker 1: TV Markets correspondent Creaty gooped up. Futures moving higher this morning.

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Speaker 1: This is Bloomberg Daybreak. I'm Nathan Hager along with Karen

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Speaker 1: Moscow six fifty nine on Wall Street. Stay with us.

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Speaker 1: Bloomberg Surveillance starts right now, Live from the financial capital

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Speaker 1: of the world, broadcasting across the globe. This is g

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Speaker 1: w B b R, New York, Bloomberg Living Trio. Given

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Speaker 1: the fact that the economy is likely to contract next year,

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Speaker 1: Central Bank, Markets, headlines and breaking news twenty four hours

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Speaker 1: a day at Bloomberg dot Com, The Bloomberg Business at

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Speaker 1: and at Bloomberg quick take, He's a blue Bird business lash,

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Speaker 1: and I'm Karen Moscow. These updates brought to you by

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Speaker 1: Interactive Burger's Vaughn Marketplace access their vast selection of over

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Speaker 1: one million global fixed income securities, but no markups are

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Speaker 1: ibkr dot com. Slash, bonds and futures are higher this morning.

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Speaker 1: We go to the first Word breaking news dance for

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Speaker 1: today's morning call. Here's Bill Maloney, Bill, Good morning, Hey,

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Speaker 1: Good morning, Karen. That's right. US futures with a bid

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Speaker 1: right now, with down futures of seventy two points, SAPs

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Speaker 1: game eleven and nastic futures rise by forty four. The

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Speaker 1: US ten year at three point five to, Gold is

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Speaker 1: up three, oil is in the green, and bitcoin is

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Speaker 1: trading little changed. Japan fell one overnight, while up markets

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Speaker 1: are also trading in the green this morning, and back

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Speaker 1: in the US on the economic front, at ten o'clock,

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Speaker 1: the NHB Housing Market index. In deal news L three,

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Speaker 1: Harris is buying arrow at Rocket Dine in a four

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Speaker 1: point seven billion dollar deal. And in other news, Morgan

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Speaker 1: Stanley's Wilson says US profit drop could rival two thousand

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Speaker 1: and eight, and a must poll shows fifty eight percent

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Speaker 1: of voters want him to exit as the head of Twitter.

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Speaker 1: Tesla is up four point six percent in the pre market.

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Speaker 1: Wrapping things up, Amprise was cut to market reform at KBW,

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Speaker 1: Baxter cut in neutually at JP Morgan and Moderner raised

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Speaker 1: to buy over at Jefferies Live. From the first breaking

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Speaker 1: news dostcom Bill Malodey care great, Bill, Thank you to

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Speaker 1: here Lie breaking news of her Bloomberg type squawk on

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Speaker 1: your terminal squ A w U K and S Bloomberg

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Speaker 1: business Flash. Now, here's Michael Barrow with Moore on what's

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Speaker 1: going on around the world. Michael Karen, thank you very much.

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Speaker 1: The House Committee investigating the January sixth sult on the

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Speaker 1: Capitol holds its final public hearing today January six. Committee

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Speaker 1: member Adam Schiff says that he thinks there is sufficient

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Speaker 1: evidence to charge former President Trump. Title forty two is

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Speaker 1: set to expire on Wednesday. Will pass Out has declared

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Speaker 1: a state of emergency due to an influx of migrants

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Speaker 1: in the NFL. The Giants beat the Commanders, the Jets

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Speaker 1: and Patriots lost in the NBA the next Nets one.

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Speaker 1: The Celtics and Wizards lost, the Warriors one in the NHL,

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Speaker 1: the Rangers one. Argentina beat France to win the World Cup.

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Speaker 1: Global News twenty four hours a day on air and

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Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred

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Speaker 1: journalists and analysts more than twenty countries. Michael Bar this

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Speaker 1: is Bloomberg Hearing alright, Michael Barr, thank you, and at

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Speaker 1: six forty two on Walls Street. And let's turn to

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Speaker 1: news now in science and technology with the Bloomberg and

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Speaker 1: j I t Stem Report. And here's what's making news

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Speaker 1: in science, Technology, engineering and math. India and Vietnam are

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Speaker 1: emerging as Apple's next manufacturing hubs as assemble partners seat

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Speaker 1: to diversify its supply chain that's heavily centered on China.

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Speaker 1: The multiyear effort to add resiliency to the supply chain,

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Speaker 1: which began before COVID nineteen, they move as much of

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Speaker 1: the third of its capacity to those Asian nations as

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Speaker 1: well as Brazil. The updated COVID NAT booster shots give

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Speaker 1: adults ages sixty five and older the greatest level of

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Speaker 1: protection against hospitalization. This is according to new US government data.

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Speaker 1: The CDC says by valent boosters were effective at preventing

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Speaker 1: hospitalizations due to COVID in this group compared with people

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Speaker 1: of the same age who got two or more doses

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Speaker 1: of the original formulation of the vaccine and L three.

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Speaker 1: Harris Technologies has agreed to by rocket engine maker Aerojet

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Speaker 1: Rocket Din in a multibillion dollar deal. Aero Jet makes

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Speaker 1: a range of rockets, including hypersonic engines and electric power

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Speaker 1: systems for customers including NASA, Boeing, Raytheon, and Lockheed Martin.

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Speaker 1: And that's the Bloomberg n j I t STEM Report.

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Speaker 1: Nathan Okay, Karen, thank you for coming up to sixty

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Speaker 1: four on Wall Street Time Now to check what's going

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Speaker 1: on in d C. Some of the top stories Internation's

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Speaker 1: capital include the trump are Title forty two policy that

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Speaker 1: turns away migrants of the border for pandemic reasons expires

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Speaker 1: on Wednesday. Texas Governor Greg Abbott is predicting, quote, total

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Speaker 1: chaos at the border if that happens, whether it's COVID

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Speaker 1: or some other issue. When you have people coming across

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Speaker 1: the globe without knowing at all what their health status is,

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Speaker 1: that almost by definition is a public health rest. There's

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Speaker 1: every reason to keep that in place. When Democratic Senator

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Speaker 1: Alex Padilla of California says it's pastime for Title forty

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Speaker 1: two to go away. For all the Republican rhetoric about

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Speaker 1: chaos at the border, open bords, etcetera. Number one, they

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Speaker 1: have yet to come forward with a plan of how

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Speaker 1: to better handle the scenario. Number two, they have not

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Speaker 1: been willing to commit the additional resources that the Department

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Speaker 1: and agency say that they need. Senator Padilla and Governor Abbott,

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Speaker 1: we're on a b C S this week. Also making news,

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Speaker 1: West Virginia Senator Joe Manchin saying he has no intentions

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Speaker 1: to leave the Democratic Party for now. As a BYPARS

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Speaker 1: Infrastructure Bill and the Inflation Reduction Act, Let's see how

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Speaker 1: that plays out. If people are trying to stop something

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Speaker 1: from doing so much good because of the politics, thinking

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Speaker 1: that somebody else will get credit for it, Let's see

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Speaker 1: how that plays out. Now. I'll let you know later

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Speaker 1: what I decided to do. Senator Mansion was a guest

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Speaker 1: on CBSS Face the Nation, which him be heard every

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Speaker 1: Sunday on Bloomberg Radio along with ABC's This Week, Let's

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Speaker 1: Bring in Bloomberg Government reporter Emily Wilkins for more on

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Speaker 1: what's happening in the nation's capital. Of course, one of

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Speaker 1: the really big stories is happening this afternoon, Emily, when

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Speaker 1: the House January six Committee meets. But with so much

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Speaker 1: of the focus on the Sunday shows about the title

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Speaker 1: forty two being lifted this coming Wednesday, how is the

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Speaker 1: White House preparing? So the White House knew that obviously

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Speaker 1: that this was coming for a while. This is something

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Speaker 1: that they wanted to see happen. And we know that

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Speaker 1: they are preparing for more migrants to be arriving at

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Speaker 1: the southern border and to be able to deal with

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Speaker 1: this official set earlier this year that they're preparing for

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Speaker 1: as many as eighteen thousand arrivals per day, more than

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Speaker 1: current double numbers. But they are expecting an intake increase

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Speaker 1: rather in that and so one of the things, of course,

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Speaker 1: there's also a lot of debate going on at the

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Speaker 1: time over this policy, over what to be done at

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Speaker 1: the border. Remember, Republicans in Congress state that they do

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Speaker 1: want to investigate Homeland Secretary Alejandro Maracas and that they

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Speaker 1: are concerned about what's happened at the Borders, who certainly

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Speaker 1: expect to be hearing much more about him as Republicans

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Speaker 1: take control of the Chamber and begin their investigations next year.

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Speaker 1: Now also interesting to hear some of that speculation rise

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Speaker 1: up around West Virginia Senator Joe Manchin and his future

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Speaker 1: in the Democratic Party, now that Arizona's Kirsten Cinema has

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Speaker 1: already announced that she's becoming an independent Sharon. That's obviously

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Speaker 1: is not the first time that Mansion has been faced

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Speaker 1: with questions on whether or not he'll leave his party.

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Speaker 1: I feel like we had the storyline a couple of

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Speaker 1: different times in the last two years. But Mansion is

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Speaker 1: still saying that he's gonna stick with the Democrats for now. Uh.

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Speaker 1: Part of it is going to be, of course, just

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Speaker 1: a matter of numbers at Democrats US too. Then you're

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Speaker 1: suddenly going to see a chamber where it's going to

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Speaker 1: have very difficult to govern and to get things done.

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Speaker 1: And and even Senator Sema has said that she's going

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Speaker 1: to be, you know, supporting a lot of things that

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Speaker 1: she supported before as far as Joe Biden's nominees judges. Uh,

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Speaker 1: some of the things that just sort of helped the

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Speaker 1: fifty fifty even split um. And we'll see what happens

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Speaker 1: with Mansion. I mean, he does have a very competitive

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Speaker 1: primary coming up in and certainly a lot of people

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Speaker 1: have pointed out that for Senator Cinema, her political future

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Speaker 1: really behooved her switching to an independent. She was being

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Speaker 1: challenges from other Democrats. Will see what happens with Mansion.

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Speaker 1: Might be as this West Virginia primary shapes up a

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Speaker 1: little bit, maybe he too will feel some pressure to

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Speaker 1: run as an independent or even as a Republican. But

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Speaker 1: I think for right now, there's a sense that Mansion

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Speaker 1: does have a very high approval rating in West Virginia,

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Speaker 1: regardless of this party, and that might mean that he's

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Speaker 1: able to successfully run as a Democrat and that he

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Speaker 1: doesn't really feel that need to switch parties. All right,

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Speaker 1: our last minute here, Emily, let's get to the main

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Speaker 1: event of the day. It sounds like every indication is

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Speaker 1: there going to be criminal referrals coming out of the

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Speaker 1: House January six Committee this afternoon. I mean, that's what

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Speaker 1: the committee is going to vote on Nathan, and we've

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Speaker 1: seen the committee being locked step this entire time. I mean, certainly,

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Speaker 1: there there have been no surprises for the nine members

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Speaker 1: of of this committee. Everything has been highly coordinated. UM.

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Speaker 1: I think the general consensus is that they would not

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Speaker 1: be bringing these referrals forward if they were not able

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Speaker 1: to pass them. And certainly, I think then the big

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Speaker 1: question becomes, what is the impact is that's going to

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Speaker 1: have on Trump's bid for the White House. We've already

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Speaker 1: seen a number of independents get frustrated with him. That's

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Speaker 1: why Democrats had a far better night than expected this

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Speaker 1: past election. UM. And this criminal referral really means that

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Speaker 1: we're going to continue to see information on Trump, information

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Speaker 1: on him from the Department of Justice. Uh. And it'll

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Speaker 1: be very interesting to see what, if anything additionally is found.

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Speaker 1: Of course, we are waiting for this report to come

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Speaker 1: out this week from all of what the January six

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Speaker 1: Committee has put together, just more details into the interviews

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Speaker 1: they've done, the data that they've gathered, and we'll be

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Speaker 1: seeing what bomb shows that report contains. We're expecting that

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Speaker 1: I believe this Wednesday to drop all right, and we'll

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Speaker 1: be watching for a Bloomberg government reporter Emily Wilkins with

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Speaker 1: us from the nation's capital. Read more at Bloomberg dot

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Speaker 1: com or on the Bloomberg terminal and listen to Bloomberg

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Speaker 1: Radio in Washington Bloomberg and one oh five point seven

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Speaker 1: FM HD two. Of course, we'll have full coverage extended

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Speaker 1: coverage of the House January six Committee hearing this afternoon,

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Speaker 1: updates throughout the day here on Bloomberg Radio. Right now

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Speaker 1: SMP futures moving higher by eight points, and you're listening

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Speaker 1: to Bloomberg Daybreak, Markets, headlines and breaking news twenty four

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Speaker 1: hours a day at Bloomberg dot Com, bloo Bloomberg Business

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Speaker 1: at End at Bloomberg Quicktake. He's a Bloomberg Business Flash

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Speaker 1: and I'm Karen Moscow. And global stocks are attempting to

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Speaker 1: recover after two weeks and losses sparked by concern that

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Speaker 1: continued policy tightening by the FED into their central banks

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Speaker 1: could trigger economic recession and hit profits. We checked the

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Speaker 1: markets all day long here on Bloomberg. S and P

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Speaker 1: future is a fifteen points and down futures have ninety seven,

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Speaker 1: as day futures have fifty two. The decks in Germany's

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Speaker 1: have six tents of upper sent the ten year treasury

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Speaker 1: down ten thirty seconds here three point five one percent,

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Speaker 1: healed on the two year four point one seven percent.

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Speaker 1: Nine max screwed oil of four tens per cent or

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Speaker 1: twenty nine cents at seventy four dollars fifty eight cents

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Speaker 1: of barrel Co makes gold up three tens per cent

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Speaker 1: or five dollars seventy cents at eighteen oh five ninety

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Speaker 1: announced And as a Bloomberg business flash, now here's Michael

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Speaker 1: Barr with more on what's going on around the world.

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Speaker 1: Michael Karen, thank you kindly. The House January six Committee

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Speaker 1: is wrapping up its investigation into the violent US capital riot,

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Speaker 1: and the final meetings eduled for today. The penalists poised

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Speaker 1: to recommend that the Justice Department considered criminal charges against

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Speaker 1: former President Donald Trump. Authorities in Ukraine's capital Kiev, saying

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Speaker 1: it's being targeted in a new attack and critical infrastructure

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Speaker 1: points have been hit. In the NFL, the Giants beat

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Speaker 1: the Commanders, The Jets and Patriots lost in the NBA,

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Speaker 1: the next Nets one, the Celtics and Wizards lost, the

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Speaker 1: Warriors one. In the NHL, the Rangers winners and Argentina

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Speaker 1: beat France to win the World Cup. Global News twenty

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Speaker 1: four hours a day on air and on Bloomberg Quick

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Speaker 1: Take Power by more than twenty d journalists analysts more

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Speaker 1: than a hundred twenty countries. Michael bar this is Bloomberg.

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Speaker 1: This he is breaking you. Who's from Bloomberg, Nathan Haygar

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Speaker 1: And we have been telling you all morning about this

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Speaker 1: poll to decide whether Elon Musk remains in a leadership

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Speaker 1: role at the company he just bought weeks ago. That

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Speaker 1: poll has closed and we get the results live and

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Speaker 1: now with Bloomberg Steve Rappaport. What's the results, Steve, Nathan.

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Speaker 1: The tweeters have spoken and if Musk makes good on

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Speaker 1: his pledge, he will respect the will of the people

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Speaker 1: and stepped down as Twitter CEO. With more than seventeen

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Speaker 1: million votes cast in a poll created by Musk, fifty

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Speaker 1: seven percent said they want him out. Now checking over

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Speaker 1: his feed, let's see if he has commented yet up

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Speaker 1: so far, no word from Musk on the outcome of

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Speaker 1: the contest. Since taking over Twitter about seven weeks ago,

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Speaker 1: Musk made a series of bold and sometimes controversial moves.

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Speaker 1: He fired thousands of workers, dissolved in Oversight Committee reinstated

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Speaker 1: former President Trump's account and publicly feuded with Apple. His

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Speaker 1: conduct made some advertiser's question whether associating with Twitter's new

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Speaker 1: owner would be bad for business. Musk's Twitter antics also

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Speaker 1: had investors in Tesla worried he's too distracted with his

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Speaker 1: latest venture once again. The poll posted by Elon Musk

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Speaker 1: results are in. Fifty seven percent of respondents say he

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Speaker 1: should step down as CEO. Breaking news on Bloomberg Radio.

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Speaker 1: I'm Steve Rappaport, Nathan Okay, Steve, thank you, and we

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Speaker 1: bring back Bloomberg Quick Take correspondent Alex Webb for instant

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Speaker 1: analysis and reaction to the results of this poll. I'm

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Speaker 1: sure you're feverishly refreshing your screen of Elon Musk's Twitter

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Speaker 1: feed to see if he gives us any comment, But

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Speaker 1: the last couple of tweets we got from the now

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Speaker 1: current CEO of Twitter, Alex. Of course, as the saying goes,

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Speaker 1: be careful what you wish for, as you might get it,

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Speaker 1: and those who want power are the ones who least

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Speaker 1: deserve it. Your thoughts now that the people, as they say,

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Speaker 1: have spoken, well, you know the thing that both brands

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Speaker 1: and investors don't like is uncertainty, and unfortunately, for now,

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Speaker 1: this seems you've created more uncertainty. Uh. Some of the

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Speaker 1: tweets of Elon's tweets subsequent to posting the poll said

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Speaker 1: that there is quote no one who wants the job

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Speaker 1: who can actually keep Twitter alive. There is no successor,

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Speaker 1: so um, you know, even if he was facing pressure

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Speaker 1: from potensional investors, existing investors, not Tesla and Esta's to

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Speaker 1: consider stepping down, it doesn't seem like there's an obvious

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Speaker 1: succession plan in place. So we'll have to see how

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Speaker 1: the day pans out, whether he will indeed step down

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Speaker 1: immediately or at all, or as is perhaps most likely,

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Speaker 1: in a few months or weeks, when someone has been

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Speaker 1: found to come in in his stead. Now, we've also

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Speaker 1: been watching Tesla shares on the news that Elon Musk

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Speaker 1: could step aside. They've been hovering around the four point

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Speaker 1: seven four percent range and popped as high as five

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Speaker 1: percent at one point. It looks like they're kind of

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Speaker 1: sticking to that range. In our last minute here, Alex,

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Speaker 1: what does that tell you about Twitter in or I'm

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Speaker 1: sorry Tesla investors sentiment on Elon Musk's next move I

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Speaker 1: think they're clearly optimistic about the prospect. You've been spending

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Speaker 1: more time at Tesla, which is not without its own

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Speaker 1: problems at the moment with electric car delt slowing, problems

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Speaker 1: with the manufacturing facility in Shanghai, the stactory they're trying

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Speaker 1: to bring online in Austin. All these problems needs solvings.

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Speaker 1: Of the distraction of everything that's going on on Twitter

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Speaker 1: probably has not been helping um investor confidence and says

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Speaker 1: that we've seen that bump this morning. Obviously the huge

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Speaker 1: great surprises because you could see the poll happening in

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Speaker 1: real time, and the likelihood of him adding three million

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Speaker 1: votes in the last minute and a half seemed pretty slim.

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Speaker 1: And the final results, with seventeen and a half million

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Speaker 1: Twitter users voting on whether Elon mush had stepped down

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Speaker 1: his head of Twitter, fifty seven and a half percent

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Speaker 1: say yes, forty two and a half percent say no.

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Speaker 1: Elon Musk, in that tweet announcing the poll twelve hours ago,

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Speaker 1: said he would abide by the results, of course, will

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Speaker 1: continue following to see whether he makes good on that pledge.

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Speaker 1: Bloomberg Quick Take correspondent Alex Webb, thanks for sticking around

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Speaker 1: a little bit extra. As we've watched that poll draw

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Speaker 1: to a close, We're gonna have much more of this

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Speaker 1: morning's top stories, local headlines, and a full check of

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Speaker 1: markets as well. First, let's bring back Bloomberg Meteorologist Rob Carolyn.

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Speaker 1: High pressure will slowly hit our way, keeping the weather

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Speaker 1: quiet through Wednesday. Lots of sunshine today, it's breezing and

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Speaker 1: chili with temperatures near forty degrees. Clear skies overnight those

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Speaker 1: year thirty tomorrow more sunshine less than the way of

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Speaker 1: wind Hiser close to forty Tomorrow afternoon we're cleared, partly

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Speaker 1: cloudy in thirty Tomorrow night, partly to mostly sunny Wednesday,

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Speaker 1: high forty. I'm Rob Carolvine with your three day forecast

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Speaker 1: on Bloomberg eleventh, three oh broadcasting live from the Bloomberg

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Speaker 1: Interacted Broker Studio in New York, Bloomberg Elving Freedom to Washington,

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Speaker 1: d C, Bloomberg ninety one to Boston, Bloomberg one six

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Speaker 1: one to San Francisco, Bloomberg nine six to the Country,

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Speaker 1: Sirius XM Chado one nine team, and around the globe

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Speaker 1: the Bloomberg Business and Bloomberg Radio dot Com. This is

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Speaker 1: Bloomberg Daybreak. We're coming up to six thirty on Wall Street.

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Speaker 1: Good morning, I'm Nathan Hagar and I'm Karen Moscow, where

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Speaker 1: nearly three hours away from the open of US trade,

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Speaker 1: ain't time to the five things you need to know

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Speaker 1: to start your day. It has brought to you by

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Speaker 1: I d k R Investment Advisers switched to Interactive Brokers

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Speaker 1: ticket charges and no conflicts of your interests at I

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Speaker 1: b k R dot com slash r I A first

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Speaker 1: you've been give with more turmoil at Twitter, Elon must

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Speaker 1: future role of the company is now in doubt, Bloomberg.

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Speaker 1: Steve Rappaport joins US Live with the latest on that story. Steve,

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Speaker 1: good morning, Good morning, Karen and Nathan. Twitter's outspoken owner

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Speaker 1: surprisingly quiet this morning after a majority of Twitter voters

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Speaker 1: in a poll he created said he needs to step

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Speaker 1: down as CEO of Twitter. Musk pledging to abide by

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Speaker 1: those results, but again no comment yet. Fifty cent said

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Speaker 1: he needs to go this after a series of controversy

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Speaker 1: since he took over the platform seven months seven weeks ago.

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Speaker 1: And sometimes they say tweets can come back to haunt,

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Speaker 1: and this one could be an example. Nine hours ago,

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Speaker 1: Musk tweeted, those who want power are the ones who

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Speaker 1: least deserve it. Live in New York. I'm Steve Rappaport

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Speaker 1: Bloomberg day Break. Okay, Steve. Thanks. Turning to politics, the

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Speaker 1: House January six committee votes on recommendations today and whether

431
00:23:03,760 --> 00:23:07,199
Speaker 1: former President Trump should be prosecuted, among them obstructing an

432
00:23:07,240 --> 00:23:10,359
Speaker 1: official government proceeding and conspiracy to the fraud the United States.

433
00:23:10,640 --> 00:23:13,920
Speaker 1: Democratic Congressman Adam Shift says the former president's actions could

434
00:23:13,920 --> 00:23:18,280
Speaker 1: also match criminal insurrection charges. This is someone who tried

435
00:23:18,320 --> 00:23:21,240
Speaker 1: to interfere with the Joint Session, even inciting a mob

436
00:23:21,320 --> 00:23:24,760
Speaker 1: to attack the Capitol. If that's not criminal, then I

437
00:23:24,920 --> 00:23:27,760
Speaker 1: know what it is. Democratic Congressman Adam Shift tells CNN

438
00:23:27,840 --> 00:23:30,480
Speaker 1: the committee has focused primarily on charges where there is

439
00:23:30,560 --> 00:23:34,439
Speaker 1: the strongest evidence. All turning overseas to China right now, Nathan,

440
00:23:34,480 --> 00:23:37,800
Speaker 1: the government's response to a COVID outbreak is front and center.

441
00:23:37,920 --> 00:23:40,480
Speaker 1: More than a month after the country saw an exponential

442
00:23:40,640 --> 00:23:44,000
Speaker 1: surge in COVID cases, is reporting minimal deaths from the

443
00:23:44,119 --> 00:23:47,359
Speaker 1: virus just to today, has calling into question how Beijing

444
00:23:47,520 --> 00:23:50,760
Speaker 1: is changing his approach to COVID and whether it's undercounting fatalities.

445
00:23:50,960 --> 00:23:54,199
Speaker 1: Turning to markets, Karen, futures are higher this morning. Assets

446
00:23:54,240 --> 00:23:57,720
Speaker 1: are still pricing central bank rhetoric. The SMP five hundred

447
00:23:57,840 --> 00:24:00,480
Speaker 1: ended last week two percent lower after Hawk because remarks

448
00:24:00,520 --> 00:24:02,920
Speaker 1: from the FED in the European Central Bank. Former Treasury

449
00:24:02,960 --> 00:24:05,560
Speaker 1: Secretary Larry Summer says, even though markets took a hit,

450
00:24:05,680 --> 00:24:08,720
Speaker 1: he has confidence in FED Shareing J. Powell, the broad

451
00:24:08,840 --> 00:24:13,639
Speaker 1: picture is where it was. I've been gratified to see

452
00:24:14,200 --> 00:24:18,159
Speaker 1: the ways in which the FED has caught up, but

453
00:24:18,440 --> 00:24:24,920
Speaker 1: they've got very challenging judgments to make going forward. Former

454
00:24:24,960 --> 00:24:28,160
Speaker 1: Treasury Secretary Larry Summers spoke on Bloomberg's Wall Street Week

455
00:24:28,200 --> 00:24:31,320
Speaker 1: heard every weekend on Bloomberg Radio and television. Well, turning

456
00:24:31,359 --> 00:24:33,760
Speaker 1: to oil now, Nathan, we're seeing swings between gains and

457
00:24:33,880 --> 00:24:36,520
Speaker 1: losses this morning. Crewde Rose at the week's open. Following

458
00:24:36,560 --> 00:24:39,560
Speaker 1: up ledge from China to revive consumption. There's also news

459
00:24:39,600 --> 00:24:42,159
Speaker 1: about plan from the Biden administration to begin refilling the

460
00:24:42,240 --> 00:24:45,119
Speaker 1: nation's strategic reserves. And I'm ex screwed oil. It's s

461
00:24:45,840 --> 00:24:47,800
Speaker 1: seventy eight cents a gallon that's the five things you

462
00:24:47,880 --> 00:24:49,280
Speaker 1: need to know to start your day. Brought to you

463
00:24:49,400 --> 00:24:55,240
Speaker 1: by Interactive Brokers. Thanks hearing sixty one on Wall Street.

464
00:24:55,280 --> 00:24:56,639
Speaker 1: Let's bring in Michael bar for a look at what

465
00:24:56,680 --> 00:24:58,720
Speaker 1: else is going on in New York and around the world.

466
00:24:58,800 --> 00:25:01,840
Speaker 1: Good morning, Michael, Good morn Nathan. The Texas border town

467
00:25:01,920 --> 00:25:04,680
Speaker 1: of El Paso as declared a state of emergency fearing

468
00:25:04,720 --> 00:25:07,960
Speaker 1: an influx of migrants. This week, when titled forty two

469
00:25:08,040 --> 00:25:11,720
Speaker 1: will likely end the Trump error provision returned all asylum

470
00:25:11,800 --> 00:25:14,600
Speaker 1: seekers back to Mexico, forcing them to wait there while

471
00:25:14,680 --> 00:25:18,720
Speaker 1: their asylum requests are processed. Texas Governor Greg Abbott defender

472
00:25:18,840 --> 00:25:21,879
Speaker 1: the tough approach he's taken to border security, including the

473
00:25:22,000 --> 00:25:25,600
Speaker 1: busting of more than fourteen thousand migrants from Texas. The

474
00:25:25,720 --> 00:25:29,160
Speaker 1: so called sanctuary cities like New York I removed them

475
00:25:29,240 --> 00:25:32,920
Speaker 1: to locations that self identified as sanctuary cities that have

476
00:25:33,040 --> 00:25:36,560
Speaker 1: the capability and the desire to help out these migrants,

477
00:25:36,680 --> 00:25:39,879
Speaker 1: and so that's exactly what's taken place. Meanwhile, Democratic Senator

478
00:25:40,000 --> 00:25:43,880
Speaker 1: Alex Paedia of California pushed back for all the Republican

479
00:25:44,119 --> 00:25:48,600
Speaker 1: rhetoric about chaos at the border, Open Boords etcetera. Number One,

480
00:25:48,800 --> 00:25:51,000
Speaker 1: they have yet to come forward with a plan of

481
00:25:51,080 --> 00:25:54,760
Speaker 1: how to better handle the scenario. Number two, they have

482
00:25:54,920 --> 00:25:58,320
Speaker 1: not been willing to commit the additional resources that the

483
00:25:58,440 --> 00:26:01,480
Speaker 1: apartments and agencies say that they need to handle this

484
00:26:01,640 --> 00:26:05,600
Speaker 1: big influx. Senator Badilla and Governor Rabbitt spoke on ABC

485
00:26:05,800 --> 00:26:08,280
Speaker 1: S this week, which can be heard Sundays on Bloomberg.

486
00:26:08,680 --> 00:26:11,960
Speaker 1: We're learning more about the terrifying moments aboard Hawaiian Airlines

487
00:26:12,000 --> 00:26:16,359
Speaker 1: flight thirty five from Phoenix to Honolulu yesterday. Severe turbulens

488
00:26:16,359 --> 00:26:20,639
Speaker 1: injured dozens on board. Hawaiian Airlines Chief operating Officer John Snook,

489
00:26:21,000 --> 00:26:23,320
Speaker 1: we do you know that there's internal damage to the aircraft.

490
00:26:23,400 --> 00:26:26,280
Speaker 1: Some panels that are that are bently buckled, um that

491
00:26:26,440 --> 00:26:30,120
Speaker 1: will need replacing and uh and the aircraft is undergoing

492
00:26:30,200 --> 00:26:33,120
Speaker 1: a thorough inspection, is going to require some maintenance work

493
00:26:33,119 --> 00:26:35,280
Speaker 1: before we put it back in the air. Hawaiian Airlines

494
00:26:35,400 --> 00:26:39,040
Speaker 1: John Snook says the plane was carrying two passengers and crew.

495
00:26:39,480 --> 00:26:42,120
Speaker 1: Sunday was the first night of Hanakah, and Jewish communities

496
00:26:42,160 --> 00:26:45,720
Speaker 1: across the US are celebrating by lightning. Manures Global News

497
00:26:45,760 --> 00:26:48,160
Speaker 1: twenty four hours a day on air and on Bloomberg

498
00:26:48,240 --> 00:26:51,200
Speaker 1: Quicktake powered by more than twenty seven hundred journalists and

499
00:26:51,240 --> 00:26:53,680
Speaker 1: analysts more than a hundred twenty countries. Michael bar this

500
00:26:53,680 --> 00:27:01,120
Speaker 1: is Bloomberg, Nathan, Thanks Michael. Six thirty three on Wall

501
00:27:01,160 --> 00:27:03,359
Speaker 1: Street Time for the Bloomberg Sports Update Frontier. If I

502
00:27:03,400 --> 00:27:05,680
Speaker 1: try stayed out here, here again is John stanshow Banks.

503
00:27:06,119 --> 00:27:08,240
Speaker 1: Three weeks ago on the NFL regular season, Giants and

504
00:27:08,359 --> 00:27:10,879
Speaker 1: Jets both hoping to be wild card playoff teams. The

505
00:27:11,000 --> 00:27:14,119
Speaker 1: Giants in much better shape they want. At Washington twenty

506
00:27:14,160 --> 00:27:16,720
Speaker 1: to twelve, Daniel Jones finally winning in prime time. He'd

507
00:27:16,720 --> 00:27:19,600
Speaker 1: been all in nine se Kwon Barkley scored a TV

508
00:27:19,760 --> 00:27:21,639
Speaker 1: had some big runs in the fourth quarter. The defense

509
00:27:21,680 --> 00:27:24,800
Speaker 1: held the Commanders. The only one touchdown Washington thought they

510
00:27:24,880 --> 00:27:28,080
Speaker 1: had one final seconds wiped out by an illegal formation

511
00:27:28,160 --> 00:27:31,119
Speaker 1: penalt vehic called disputed by the Commanders. At the season

512
00:27:31,200 --> 00:27:33,159
Speaker 1: end of now, Giants would be the sixth seed in

513
00:27:33,200 --> 00:27:36,200
Speaker 1: the NFC in Washington would also get in as the seven.

514
00:27:36,280 --> 00:27:38,760
Speaker 1: The Jets are on the outside looking in at MetLife

515
00:27:39,040 --> 00:27:40,960
Speaker 1: took their first leave with less than five minutes to go.

516
00:27:41,119 --> 00:27:44,640
Speaker 1: Under two minutes left. Detroit had fourth and one at midfield,

517
00:27:44,920 --> 00:27:48,320
Speaker 1: Founder's center, Justin Jackson on back offs Gounna throw it

518
00:27:48,600 --> 00:27:51,520
Speaker 1: back and looking close wide open ut side, brock Right

519
00:27:51,600 --> 00:27:53,960
Speaker 1: with it to the thirty. Brock Right twenty five, brock

520
00:27:54,040 --> 00:27:56,480
Speaker 1: Ride twenty Cook back and the can he took five

521
00:27:57,400 --> 00:28:03,600
Speaker 1: song touchdown Detroit Giants. My lines radio call the Jets.

522
00:28:03,640 --> 00:28:06,080
Speaker 1: Greg's air line missed the game time fifty eight yard

523
00:28:06,119 --> 00:28:09,320
Speaker 1: field goal final play Detroit one seventeen, the Jets third

524
00:28:09,359 --> 00:28:12,399
Speaker 1: straight loss. They dropped to five hundred. Patriots and Raiders

525
00:28:12,480 --> 00:28:15,119
Speaker 1: looked headed for overtime until New England started laterally in

526
00:28:15,560 --> 00:28:17,399
Speaker 1: like teams do when they are trailing. The game was

527
00:28:17,480 --> 00:28:21,400
Speaker 1: tie Las Vegas one, running a box lateral back for touchdown.

528
00:28:21,480 --> 00:28:24,240
Speaker 1: Nicks Netson Rangers all one on the road. Winning streaks

529
00:28:24,280 --> 00:28:26,679
Speaker 1: continued to Nixon Rangers seventh straight. The nets Of won

530
00:28:26,680 --> 00:28:29,399
Speaker 1: their last six. Leonel Messi says he's not done playing

531
00:28:29,440 --> 00:28:32,040
Speaker 1: for Argentina, who beat France four three and penalty kicks

532
00:28:32,080 --> 00:28:35,520
Speaker 1: in an epic World Cup final. John Station, Bloomberg Sports,

533
00:28:35,600 --> 00:28:38,160
Speaker 1: Nathan all Right, John, thank you, and Bloomberg Sports was

534
00:28:38,280 --> 00:28:40,600
Speaker 1: brought to you by Audie. Don't let someone else drive

535
00:28:40,680 --> 00:28:43,600
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Speaker 1: local tri state autie dealer to get behind the wheel

537
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Speaker 1: of yours today, or visit autie Offers dot com for

538
00:28:49,040 --> 00:28:53,480
Speaker 1: more information. Six thirty five on Wall Street, Bloomberg Radio

539
00:28:53,640 --> 00:28:55,440
Speaker 1: is on the air from San Francisco to New York,

540
00:28:55,520 --> 00:28:57,880
Speaker 1: London to Hong Kong. Let's check in with our global

541
00:28:57,920 --> 00:28:59,720
Speaker 1: news team for some of the top stories heard on

542
00:28:59,800 --> 00:29:06,640
Speaker 1: our three hundred affiliate radio stations around the world. I'm

543
00:29:06,720 --> 00:29:09,800
Speaker 1: Steve Podascott K and X in Los Angeles. We're talking

544
00:29:09,840 --> 00:29:13,400
Speaker 1: about the sale of the original animatronic model used to

545
00:29:13,480 --> 00:29:16,400
Speaker 1: bring each eat a life in the classic sci fi movie.

546
00:29:16,840 --> 00:29:20,040
Speaker 1: I'm Jeff Fullinger and on w tv N and Columbus.

547
00:29:20,120 --> 00:29:24,200
Speaker 1: I'm reporting a majority of Americans doubt their personal finances

548
00:29:24,320 --> 00:29:27,120
Speaker 1: will improve in the new year. I'm Stephen carl and

549
00:29:27,160 --> 00:29:29,600
Speaker 1: Bloomberg DAB Radio in London. We've been speaking to the

550
00:29:29,640 --> 00:29:32,640
Speaker 1: head of Germany's EFO Institute about their latest therapy showing

551
00:29:32,640 --> 00:29:35,720
Speaker 1: a slice improvements in the business climate in Europe's largest economy.

552
00:29:36,200 --> 00:29:39,160
Speaker 1: I'm Ed Cory on w w J in Detroit. I'm

553
00:29:39,240 --> 00:29:43,440
Speaker 1: reporting the hybrid vehicle it's sticking around longer than many anticipated,

554
00:29:44,840 --> 00:29:47,040
Speaker 1: and those are. Some of the stories are twenty seven

555
00:29:47,160 --> 00:29:50,000
Speaker 1: hundred Bloomberg journalists and analysts are working on this morning

556
00:29:50,080 --> 00:29:52,920
Speaker 1: around the world. It's six thirty six on Wall Street.

557
00:29:53,560 --> 00:29:58,160
Speaker 1: The following commentary is from Bloomberg Opinion. What happened when

558
00:29:58,200 --> 00:30:02,040
Speaker 1: the Bay Area rejected growth? I'm justin Fox, a columnist

559
00:30:02,120 --> 00:30:05,560
Speaker 1: for Bloomberg Opinion. In nineteen fifty nine, the U. S.

560
00:30:05,640 --> 00:30:08,760
Speaker 1: Commerce Department prepared a report about the future development of

561
00:30:08,800 --> 00:30:12,520
Speaker 1: the San Francisco Bay Area. It foresaw the area's population

562
00:30:12,640 --> 00:30:17,000
Speaker 1: quadrupling to fourteen point four million by two thousand twenty.

563
00:30:17,400 --> 00:30:20,600
Speaker 1: This was to be accomplished mainly by turning agricultural land

564
00:30:20,640 --> 00:30:24,440
Speaker 1: into suburban subdivisions, although the report included a map showing

565
00:30:24,520 --> 00:30:27,560
Speaker 1: that most of the Bay could conceivably be converted to

566
00:30:27,680 --> 00:30:31,320
Speaker 1: land if needed. That map, in particular, helped inspire a

567
00:30:31,400 --> 00:30:35,920
Speaker 1: region wide backlash against growth that was understandable but eventually

568
00:30:36,000 --> 00:30:38,560
Speaker 1: got out of hand. The Bay Area now has three

569
00:30:38,640 --> 00:30:41,400
Speaker 1: quarters of its land area set aside as open space,

570
00:30:41,760 --> 00:30:45,000
Speaker 1: the country's most expensive housing, and a host of related

571
00:30:45,080 --> 00:30:48,640
Speaker 1: social and economic problems. It also has a population about

572
00:30:48,680 --> 00:30:52,040
Speaker 1: half what was envisioned in nineteen fifty nine and falling.

573
00:30:52,440 --> 00:30:55,680
Speaker 1: I'm justin Fox. For more opinion, please go to Bloomberg

574
00:30:55,760 --> 00:30:58,560
Speaker 1: dot com slash Opinion, where O P I N go

575
00:30:58,920 --> 00:31:02,600
Speaker 1: on the Bloomberg Terminal. This has been Bloomberg opinion and

576
00:31:02,720 --> 00:31:06,120
Speaker 1: you can hear Bloomberg opinion commentaries every weekday. At this time,

577
00:31:06,600 --> 00:31:09,480
Speaker 1: terminal customers can read more at O P I N go.

578
00:31:10,040 --> 00:31:13,080
Speaker 1: SMP futures right now up twelve points down, futures up

579
00:31:13,120 --> 00:31:15,640
Speaker 1: seventy six and NASDAC futures are hired by forty seven

580
00:31:15,720 --> 00:31:18,720
Speaker 1: points ten, Your treasuries down ten thirty seconds, the old

581
00:31:18,760 --> 00:31:20,880
Speaker 1: three point five one percent yield on the two year

582
00:31:21,320 --> 00:31:24,560
Speaker 1: four point one seven percent. Nim X screws hired by

583
00:31:24,600 --> 00:31:27,120
Speaker 1: six tenths percent or forty three cents at seventy four

584
00:31:27,200 --> 00:31:29,480
Speaker 1: seventy two. A barrel comic gold is up three tenths

585
00:31:29,560 --> 00:31:32,480
Speaker 1: percent or five dollar sixty cents at eighteen O five

586
00:31:32,520 --> 00:31:34,520
Speaker 1: eighty announce and the euro right now trading at one

587
00:31:34,560 --> 00:31:38,200
Speaker 1: point zero six zero nine against the dollar six thirty

588
00:31:38,240 --> 00:31:40,360
Speaker 1: eight on Wall Street. Up next on day break, we

589
00:31:40,480 --> 00:31:43,080
Speaker 1: wait for the January six committees end game and the

590
00:31:43,240 --> 00:31:47,160
Speaker 1: end of a pandemic era immigration enforcement policy. Bloomberg Government's

591
00:31:47,200 --> 00:31:52,960
Speaker 1: Emily Wilkins joins us. Next, This is Bloomberg Live from

592
00:31:52,960 --> 00:31:56,240
Speaker 1: the Bloomberg Interactive Burger Studios. This is Bloomberg day Break

593
00:31:56,280 --> 00:32:00,239
Speaker 1: for Monday, December nineteen two. Coming up this hour, new

594
00:32:00,320 --> 00:32:03,920
Speaker 1: Twitter Paul could reshape leadership of the company. The January

595
00:32:04,000 --> 00:32:07,280
Speaker 1: six Committee votes on the legal fate of former President Trump.

596
00:32:07,640 --> 00:32:10,560
Speaker 1: COVID deaths in China come into focus as it pivots

597
00:32:10,560 --> 00:32:13,920
Speaker 1: away from strict policies, and Marcus looked to recover from

598
00:32:13,960 --> 00:32:17,280
Speaker 1: a FED induced skin How will the likely end of

599
00:32:17,440 --> 00:32:21,240
Speaker 1: two fact Immigrants, States and Cities Plus with artist Manor

600
00:32:21,320 --> 00:32:24,000
Speaker 1: in New York City was lit to begin anaka, I'm

601
00:32:24,040 --> 00:32:27,320
Speaker 1: Michael barn More, I'm John stand Daron Sports that Giants

602
00:32:27,360 --> 00:32:29,520
Speaker 1: held on for a big win at Washington, the Jets

603
00:32:29,600 --> 00:32:32,320
Speaker 1: lost to Detroit and nixed Nets and Rangers All one.

604
00:32:34,800 --> 00:32:38,320
Speaker 1: That's all s Trendy ahead on Bloomberg Daybreak on Bloomberg

605
00:32:38,360 --> 00:32:42,240
Speaker 1: e Living Free on New York, Bloomberg one, Washington, d C,

606
00:32:42,720 --> 00:32:46,280
Speaker 1: Bloomberg one oh six one, Boston, Bloomberg nine sixties and

607
00:32:46,400 --> 00:32:50,320
Speaker 1: Francisco Syrius Exam one nine Team and around the world

608
00:32:50,440 --> 00:32:53,960
Speaker 1: on Bloomberg Radio dot Com and via the Bloomberg Business app.

609
00:32:57,760 --> 00:33:00,560
Speaker 1: Good morning. I'm Nathan Haygar and I'm car at Moscow.

610
00:33:00,640 --> 00:33:03,560
Speaker 1: A US Knock Index futures are on the rise this morning,

611
00:33:03,600 --> 00:33:05,400
Speaker 1: and we check the markets all day long here on

612
00:33:05,480 --> 00:33:08,760
Speaker 1: Bloomberg radios, and P futures of fourteen points up a

613
00:33:08,840 --> 00:33:12,200
Speaker 1: third of upper sent down futures up three tens per

614
00:33:12,240 --> 00:33:15,120
Speaker 1: center ninety four points, and ASDAG futures of four tens

615
00:33:15,160 --> 00:33:18,000
Speaker 1: per center forty eight points, and the ten year treasury

616
00:33:18,040 --> 00:33:20,560
Speaker 1: down ten thirty seconds you three point five one percent.

617
00:33:20,960 --> 00:33:23,120
Speaker 1: They yield on the two year at four point one

618
00:33:23,360 --> 00:33:26,080
Speaker 1: seven percent, Nathan, Karen. We'll get more on markets in

619
00:33:26,120 --> 00:33:28,680
Speaker 1: a minute, but we begin this morning with turmoil at Twitter,

620
00:33:28,840 --> 00:33:30,960
Speaker 1: even more of it with a new Twitter poll that

621
00:33:31,080 --> 00:33:35,640
Speaker 1: could determine Elon Musk's future role with the company. Bloomberg.

622
00:33:35,720 --> 00:33:38,800
Speaker 1: Steve Rappaport joins US Live with the latest. Good morning, Steve,

623
00:33:38,880 --> 00:33:41,960
Speaker 1: Good morning, Nathan and Karen. Two questions dominate the Twitter

624
00:33:42,040 --> 00:33:45,560
Speaker 1: sphere this morning. First, will users vote Musk out as CEO?

625
00:33:46,000 --> 00:33:47,560
Speaker 1: We'll get the answer to that one. In less than

626
00:33:47,600 --> 00:33:51,960
Speaker 1: twenty minutes. More than seventeen million users voted saying Musk

627
00:33:52,120 --> 00:33:54,920
Speaker 1: must go if they a's have it, What happens next.

628
00:33:55,360 --> 00:33:57,480
Speaker 1: Musk pledge to abide by the results of the poll

629
00:33:57,600 --> 00:34:00,840
Speaker 1: he created, but an opinion poll is us that meaning

630
00:34:00,920 --> 00:34:03,240
Speaker 1: he's not legally required to make good on his word.

631
00:34:03,480 --> 00:34:06,760
Speaker 1: Live in New York, I'm Steve Rappaport Bloomberg Daybreak. All right, Steve,

632
00:34:06,840 --> 00:34:10,160
Speaker 1: thanks well. Turning to a major headline in politics this morning.

633
00:34:10,200 --> 00:34:13,800
Speaker 1: The House January six Committee votes today on recommendations that

634
00:34:13,960 --> 00:34:18,240
Speaker 1: former President Trump be prosecuted, Bloomberg said. Bachelor reports lawmakers

635
00:34:18,280 --> 00:34:21,879
Speaker 1: are considering a number of charges, among them for obstructing

636
00:34:21,960 --> 00:34:25,760
Speaker 1: an official government proceeding and conspiracuited to fraud the United States.

637
00:34:26,160 --> 00:34:29,400
Speaker 1: Congressman Adam Schiff already saying that Trump's actions are pretty

638
00:34:29,480 --> 00:34:33,080
Speaker 1: much a good match for criminal insurrection charges. This is

639
00:34:33,200 --> 00:34:36,480
Speaker 1: someone who tried to interfere with the Joint Session, even

640
00:34:36,560 --> 00:34:39,960
Speaker 1: inciting a mob to attack the Capitol. If that's not criminal,

641
00:34:40,160 --> 00:34:43,040
Speaker 1: then I don't know what is. Recommendation could also come

642
00:34:43,120 --> 00:34:46,320
Speaker 1: from Mark Meadows and Rudy Giuliani. Hearing at one pm

643
00:34:46,360 --> 00:34:50,200
Speaker 1: Wall Street Time in San Francisco. I'm at Baxter Bloomberg Radio,

644
00:34:50,320 --> 00:34:53,080
Speaker 1: All right, and thank you. Meantime, Senator kirston Cinema's defection

645
00:34:53,160 --> 00:34:56,799
Speaker 1: from the Democratic Party continues to reverberate across Washington. Now

646
00:34:56,840 --> 00:34:59,200
Speaker 1: it has some asking if Joe Manchon will do the same.

647
00:34:59,600 --> 00:35:02,200
Speaker 1: The West Virginia senator, though, says he remains committed to

648
00:35:02,239 --> 00:35:05,600
Speaker 1: the Democratic Party for now. They know how independent I am.

649
00:35:06,000 --> 00:35:08,480
Speaker 1: The deed does not saddle me to everything the Democrats

650
00:35:08,520 --> 00:35:10,520
Speaker 1: want to do. Is what's right. I don't think the

651
00:35:10,560 --> 00:35:13,120
Speaker 1: Democrats have all the answers. I don't think the Republicans

652
00:35:13,160 --> 00:35:16,359
Speaker 1: are always wrong and vice versa. I don't look at

653
00:35:16,400 --> 00:35:19,080
Speaker 1: things that way. The Senator Mansion spoke on Face the

654
00:35:19,160 --> 00:35:21,560
Speaker 1: Nation from CBS, which you can hear every Sunday on

655
00:35:21,640 --> 00:35:25,160
Speaker 1: Bloomberg Radio. Well, let's turn overseas now to China, Nathan,

656
00:35:25,200 --> 00:35:27,879
Speaker 1: where the government's response to a COVID outbreak is front

657
00:35:27,960 --> 00:35:30,279
Speaker 1: and center. More than a month after the country saw

658
00:35:30,320 --> 00:35:34,399
Speaker 1: an exponential surge in COVID cases, is reporting minimal deaths

659
00:35:34,440 --> 00:35:36,920
Speaker 1: from the virus, and that's calling into question how Beijing

660
00:35:37,080 --> 00:35:40,200
Speaker 1: is changing its approach to COVID. Bloomberge John lou has

661
00:35:40,239 --> 00:35:43,239
Speaker 1: more in that story. Suspicion is growing that China maybe

662
00:35:43,400 --> 00:35:46,319
Speaker 1: undercounting the number of COVID deaths in the country. That's

663
00:35:46,320 --> 00:35:50,280
Speaker 1: after authorities reported to fatalities today, the first that's officially

664
00:35:50,320 --> 00:35:53,480
Speaker 1: attributed to COVID since the country began pivoting away from

665
00:35:53,520 --> 00:35:57,360
Speaker 1: COVID zero in early December. It's also amid media reports

666
00:35:57,400 --> 00:36:00,920
Speaker 1: of increased activity and crematoriums if your homes in Beijing,

667
00:36:01,400 --> 00:36:04,520
Speaker 1: and follows the report by Chinese outlets hishing the authorities

668
00:36:04,560 --> 00:36:08,160
Speaker 1: of substantially narrow the definition of what a COVID death is.

669
00:36:08,520 --> 00:36:11,160
Speaker 1: All of this is casting further doubt on how reliable

670
00:36:11,280 --> 00:36:14,919
Speaker 1: China's official data is in Beijing. Joe Lou Blue Break,

671
00:36:14,960 --> 00:36:17,880
Speaker 1: day break, Okay, John, Thanks. Turning to markets now, Futures

672
00:36:17,880 --> 00:36:20,439
Speaker 1: are moving higher to begin the week. Assets are still

673
00:36:20,440 --> 00:36:23,160
Speaker 1: adjusting to central bank rhetoric. We saw the SMP five

674
00:36:23,239 --> 00:36:26,440
Speaker 1: hundred and last week two percent lower after hawksh remarks

675
00:36:26,440 --> 00:36:29,120
Speaker 1: from the FED and the European Central Bank. Former Treasury

676
00:36:29,160 --> 00:36:32,080
Speaker 1: Secretary Larry Summers tells us even though markets took a hit,

677
00:36:32,200 --> 00:36:35,080
Speaker 1: he has confidence in FED share j Powell, the chairman

678
00:36:35,400 --> 00:36:39,239
Speaker 1: is in about the right place. He's recognizing that we

679
00:36:40,000 --> 00:36:44,960
Speaker 1: can't forecast the economy with precision. He's recognizing that it

680
00:36:45,040 --> 00:36:50,000
Speaker 1: would be a terrible error if we were to fail

681
00:36:50,160 --> 00:36:54,480
Speaker 1: to stop inflation. In this episode, Larry Summer says the

682
00:36:54,520 --> 00:36:57,840
Speaker 1: FED should still be concerned with challenging decisions on the horizon.

683
00:36:57,960 --> 00:37:00,320
Speaker 1: The former Treasury secretary was a guest on blue Burg's

684
00:37:00,320 --> 00:37:02,520
Speaker 1: Wall Street week which you can hear every weekend on

685
00:37:02,560 --> 00:37:05,719
Speaker 1: Bloomberg Radio and television. Well Nathan. Rhetoric from the Fed

686
00:37:05,840 --> 00:37:09,600
Speaker 1: also reverberated across Asia. Overnight stocks in the region slid

687
00:37:09,680 --> 00:37:12,960
Speaker 1: as type policy stoked fears of a global recession. At

688
00:37:12,960 --> 00:37:17,160
Speaker 1: Bloomberg Daybreak, Asia anchor Brian Curtis has more Asian stocks

689
00:37:17,200 --> 00:37:20,440
Speaker 1: declined as the Fed hammered home it's committed to raising

690
00:37:20,520 --> 00:37:23,560
Speaker 1: interest rates. The yen extended gains for a second day.

691
00:37:23,840 --> 00:37:26,239
Speaker 1: The yield on Japan's five year note rose to the

692
00:37:26,360 --> 00:37:29,919
Speaker 1: highest in seven years. A Kyoto report said Japan's prime

693
00:37:29,960 --> 00:37:33,759
Speaker 1: minister might allow more flexibility and monetary policy. A top

694
00:37:33,800 --> 00:37:38,080
Speaker 1: government spokesman denied the report. The dollar was weaker. Brian Curtis,

695
00:37:38,160 --> 00:37:40,960
Speaker 1: Bloomberg Daybreak. Okay, Brian, thanks back here in the US.

696
00:37:41,040 --> 00:37:44,479
Speaker 1: There's more economic data to digest, and housing data takes

697
00:37:44,560 --> 00:37:47,879
Speaker 1: center stage. Bloomberg's Viney Dell judais as a preview, we'll

698
00:37:47,880 --> 00:37:51,560
Speaker 1: get data on the US builder confidence today, Housing starts tomorrow,

699
00:37:51,920 --> 00:37:55,440
Speaker 1: existing home sales Wednesday at new home sales Friday. The

700
00:37:55,520 --> 00:37:59,800
Speaker 1: builder confidence data provide a perfect illustration of US market conditions.

701
00:38:00,160 --> 00:38:02,680
Speaker 1: Sentiment has been falling since the start of the year.

702
00:38:02,760 --> 00:38:05,160
Speaker 1: The longest structure of the clients and data back to nine.

703
00:38:06,640 --> 00:38:10,439
Speaker 1: Interest rates rise altso one. This week's US agenda data

704
00:38:10,520 --> 00:38:14,520
Speaker 1: on consumer confidence and come and spending manufacturing in the

705
00:38:14,640 --> 00:38:19,319
Speaker 1: final revision of third quarter GDP data. Bloomberg day break

706
00:38:19,520 --> 00:38:21,480
Speaker 1: here if any thanks, so. Turning to oil now, we're

707
00:38:21,520 --> 00:38:24,680
Speaker 1: seeing swings between gains and losses this morning. Crude rose

708
00:38:24,800 --> 00:38:27,000
Speaker 1: at the week's open following a plant from China to

709
00:38:27,040 --> 00:38:29,680
Speaker 1: revive consumption. There's also news of a plan from the

710
00:38:29,719 --> 00:38:33,880
Speaker 1: Biden administration to begin refilling the nation's strategic reserves and

711
00:38:34,000 --> 00:38:36,480
Speaker 1: checking prices Right now, nin max screwed oil is up

712
00:38:36,520 --> 00:38:39,040
Speaker 1: half percent or thirty seven cents at seventy four dollars

713
00:38:39,080 --> 00:38:41,680
Speaker 1: sixty six cents of barrel brent is at seventy nine

714
00:38:41,719 --> 00:38:44,680
Speaker 1: dollars fifty nine cents. Straight ahead, we have your latest

715
00:38:44,800 --> 00:38:49,000
Speaker 1: local headlines plus the check of sports, and this is Bloomberg.

716
00:38:53,280 --> 00:38:55,880
Speaker 1: Thanks Staring at six o seven on wall strees in

717
00:38:56,000 --> 00:38:58,160
Speaker 1: New York. Good christ Today. They will be mostly sunny

718
00:38:58,200 --> 00:39:00,560
Speaker 1: with breezy, with the high only near forty. Agrees we'll

719
00:39:00,560 --> 00:39:03,279
Speaker 1: get back down to the thirties tonight. Michael Bars here

720
00:39:03,320 --> 00:39:04,880
Speaker 1: with Bara what you need to know New York and

721
00:39:05,000 --> 00:39:07,239
Speaker 1: around the world. Good morning, Michael, Good morning Nathan. The

722
00:39:07,360 --> 00:39:10,799
Speaker 1: Texas border town of El Paso has declared a state

723
00:39:10,960 --> 00:39:14,120
Speaker 1: of emergency fearing an influx of migrants this week when

724
00:39:14,200 --> 00:39:17,040
Speaker 1: a court order forces the Biden administration to lift Title

725
00:39:17,120 --> 00:39:21,000
Speaker 1: forty two. The Trump error provision returned all asylum seekers

726
00:39:21,120 --> 00:39:24,239
Speaker 1: back to Mexico, forcing them to wait there while their

727
00:39:24,239 --> 00:39:28,680
Speaker 1: asylum requests are processed. Texas Governor Greg Abbott says there

728
00:39:28,719 --> 00:39:31,600
Speaker 1: will be total chaos if Title forty two is lifted.

729
00:39:32,040 --> 00:39:36,520
Speaker 1: Governor Rabbit accused President Biden of having open border policies

730
00:39:36,680 --> 00:39:40,399
Speaker 1: that malicious actors are taking advantage of. It is known

731
00:39:41,239 --> 00:39:44,840
Speaker 1: by the cartels, who have sophisticate information. Whether or not

732
00:39:44,920 --> 00:39:47,680
Speaker 1: the bidenministration is going to enforce the immigration laws or

733
00:39:47,719 --> 00:39:52,040
Speaker 1: not is known across the world, but most importantly known

734
00:39:52,040 --> 00:39:56,279
Speaker 1: among the cartels. Meanwhile, Democratic Senator Alex Padilla of California

735
00:39:56,360 --> 00:40:00,160
Speaker 1: pushed back against what he called Republican rhetoric. We're what

736
00:40:00,400 --> 00:40:03,719
Speaker 1: much different place when it comes to COVID today than

737
00:40:03,800 --> 00:40:07,719
Speaker 1: we were to almost three years ago. So it's pastime

738
00:40:08,120 --> 00:40:11,000
Speaker 1: for a Title forty two to be gun. Senator Badilla

739
00:40:11,160 --> 00:40:13,560
Speaker 1: and Governor Abbott spoke on a d C S this week,

740
00:40:13,640 --> 00:40:17,120
Speaker 1: which can be heard Sundays on Bloomberg. Border. State leaders

741
00:40:17,160 --> 00:40:20,640
Speaker 1: aren't the only lawmakers sounding the alarm about the expiration

742
00:40:20,719 --> 00:40:23,600
Speaker 1: of Title forty two. In New York City, more buses

743
00:40:23,719 --> 00:40:27,880
Speaker 1: transporting asylum seekers are expected to arrive today. Neyor Adams

744
00:40:27,960 --> 00:40:30,919
Speaker 1: is asking for a new round of federal and state help.

745
00:40:31,320 --> 00:40:33,640
Speaker 1: Dozens of people were injured after a flight headed for

746
00:40:33,760 --> 00:40:37,480
Speaker 1: Hawaii hit severe turbulence. Like thirty five from Phoenix to

747
00:40:37,560 --> 00:40:41,200
Speaker 1: Honolulu was thirty minutes outside of its destination when the

748
00:40:41,239 --> 00:40:45,439
Speaker 1: incident happened. The plane was carrying two eight passengers and crew.

749
00:40:46,120 --> 00:40:49,160
Speaker 1: Sunday was the first night of Hanaka, the Jewish communities

750
00:40:49,200 --> 00:40:53,000
Speaker 1: across the US are celebrating. In Washington, d C. The

751
00:40:53,080 --> 00:40:56,320
Speaker 1: lighting of the world's largest manua began. The first of

752
00:40:56,440 --> 00:40:59,200
Speaker 1: eight candles was lit on the ellipse just across from

753
00:40:59,239 --> 00:41:02,480
Speaker 1: the White House. Attorney General Merrick Garland. Last night was

754
00:41:02,600 --> 00:41:06,840
Speaker 1: the principal government speaker. We must stand up against the

755
00:41:06,960 --> 00:41:11,520
Speaker 1: disturbing rise in anti savagism. In Brooklyn, thousand attended one

756
00:41:11,560 --> 00:41:15,240
Speaker 1: of the city's largest minorrehs to mark the season. Global

757
00:41:15,280 --> 00:41:17,480
Speaker 1: News twenty four hours a day on air and on

758
00:41:17,520 --> 00:41:20,439
Speaker 1: Bloomberg Quick Take, powered by more than twenty seven hundred

759
00:41:20,520 --> 00:41:23,399
Speaker 1: journalists analysts more than a hundred twenty countries. Michael Barr

760
00:41:23,440 --> 00:41:30,759
Speaker 1: and this is Bloomberg, Nathan. Thanks Michael six o nine

761
00:41:30,800 --> 00:41:32,960
Speaker 1: on Wall Street time for the Bloomberg Sports Update. Bronto

762
00:41:33,000 --> 00:41:35,440
Speaker 1: you by tri Stay downy. Here's john Stown Shower. Okay,

763
00:41:35,480 --> 00:41:37,560
Speaker 1: they have the Giants game in Washington, so big it

764
00:41:37,680 --> 00:41:40,120
Speaker 1: was moved into prime time. Giants had lost their last

765
00:41:40,200 --> 00:41:42,719
Speaker 1: eleven night games, and they came in winless in their

766
00:41:42,800 --> 00:41:45,400
Speaker 1: last four, while the Commanders had only lost once in

767
00:41:45,480 --> 00:41:47,200
Speaker 1: their last eight. They're the only team to have meeaten

768
00:41:47,239 --> 00:41:49,640
Speaker 1: the Eagles with the Giants took the lad thanks to

769
00:41:49,680 --> 00:41:52,080
Speaker 1: a rookie. It's the snap back to flow. He's on

770
00:41:52,160 --> 00:41:54,360
Speaker 1: the pressure sack my Tibot of the Flaws, loose on

771
00:41:54,560 --> 00:41:57,480
Speaker 1: the ground, scoop up in the end zone for a touchdown.

772
00:41:59,080 --> 00:42:02,680
Speaker 1: Tibodeau with the at the fourth stuck and then the touchdown.

773
00:42:02,960 --> 00:42:06,160
Speaker 1: He completes the w F. The Antibodaux all over the

774
00:42:06,200 --> 00:42:08,800
Speaker 1: field all night and the Giants won twenty two twelve

775
00:42:08,920 --> 00:42:11,000
Speaker 1: held on at the end. The Commanders thought they had

776
00:42:11,040 --> 00:42:12,600
Speaker 1: a touchdown to get there within two, but it was

777
00:42:12,680 --> 00:42:15,120
Speaker 1: notified by a penalty and the Giants now in much

778
00:42:15,200 --> 00:42:17,600
Speaker 1: better shape to make the playoffs. The Jets are not

779
00:42:17,840 --> 00:42:21,320
Speaker 1: costly twenty to seventeen home lost a red hot Detroit.

780
00:42:21,480 --> 00:42:23,800
Speaker 1: Zach Wilson back is the starting QB for the injured

781
00:42:23,840 --> 00:42:26,560
Speaker 1: Mike White, and Wilson played fairly well, but the Lions

782
00:42:26,640 --> 00:42:29,239
Speaker 1: wanted on a late fifty one yard pass play on

783
00:42:29,280 --> 00:42:31,360
Speaker 1: a fourth and one of Detroits one six of seven.

784
00:42:31,640 --> 00:42:34,759
Speaker 1: Two of those wins have come at MetLife. Nicks Nets

785
00:42:34,880 --> 00:42:37,320
Speaker 1: Rangers all one on the road could continue their winning

786
00:42:37,360 --> 00:42:40,200
Speaker 1: streaks seven straight for the Knicks at Indiana finished on

787
00:42:40,280 --> 00:42:42,759
Speaker 1: an eleven to two run beat the Pacers one O nine,

788
00:42:42,840 --> 00:42:45,600
Speaker 1: one oh six. Jalen Brunson scored thirty and Detroit Kevin

789
00:42:45,640 --> 00:42:48,640
Speaker 1: Durant scored forty three. He had twenty six and the

790
00:42:48,719 --> 00:42:52,319
Speaker 1: third quarter the Nets one one and Brooklyn has won

791
00:42:52,360 --> 00:42:55,400
Speaker 1: its last six seventh straight for the Rangers seven one

792
00:42:55,440 --> 00:42:58,239
Speaker 1: at Chicago's seven different Ranger goal scores. The World Cup

793
00:42:58,280 --> 00:43:02,120
Speaker 1: Final build as Leonel ssty versus Killian Umboppy. Together they

794
00:43:02,239 --> 00:43:05,560
Speaker 1: put seven balls into the net, five on penalty kicks.

795
00:43:05,600 --> 00:43:08,560
Speaker 1: Messy and Argentina beet France four to three. Some are

796
00:43:08,600 --> 00:43:12,040
Speaker 1: calling it the most exciting soccer game ever. John Stashower,

797
00:43:12,080 --> 00:43:15,080
Speaker 1: Bloomberg Sports NAO. Okay, John, thank you. The Bloomberg Sports

798
00:43:15,160 --> 00:43:17,399
Speaker 1: Report was brought to you by Audie. Don't let someone

799
00:43:17,440 --> 00:43:20,319
Speaker 1: else drive off in the Audi model you've always wanted.

800
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Speaker 1: the wheel of yours today, or visit Outie Offers dot

802
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Speaker 1: com for more information. SMP futures are higher by fourteen points,

803
00:43:30,440 --> 00:43:33,200
Speaker 1: DAL futures up ninety six, dance deck futures on the

804
00:43:33,320 --> 00:43:36,279
Speaker 1: rise by forty nine points ten, Your treasuries down ten

805
00:43:36,400 --> 00:43:38,880
Speaker 1: thirty seconds deal three point five one percent yield on

806
00:43:38,960 --> 00:43:41,400
Speaker 1: the two year just shy a four point one eight

807
00:43:41,480 --> 00:43:45,279
Speaker 1: percent TESLA moving higher by four point seven percent on

808
00:43:45,400 --> 00:43:49,440
Speaker 1: the possibility of Elon Musk stepping away. As CEO of

809
00:43:49,560 --> 00:43:55,440
Speaker 1: Twitter Live from coast to coast from New York to

810
00:43:55,520 --> 00:43:59,800
Speaker 1: San Francisco, Boston, to Washington, d C nationwide on Sirius

811
00:44:00,040 --> 00:44:03,920
Speaker 1: Sam the Bloomberg business appened Bloomberg dot com. This is

812
00:44:04,040 --> 00:44:07,960
Speaker 1: Bloomberg Daybreak. Good morning, I'm Nathan Hagar. Let's get back

813
00:44:07,960 --> 00:44:10,799
Speaker 1: to our top story this morning. We're just a few

814
00:44:10,880 --> 00:44:13,360
Speaker 1: minutes away from learning the results of a poll that

815
00:44:13,480 --> 00:44:17,839
Speaker 1: could determine whether, if not Elon Musk steps aside as

816
00:44:17,920 --> 00:44:21,520
Speaker 1: CEO of Twitter, what the users of the social media

817
00:44:21,560 --> 00:44:24,080
Speaker 1: platform think he should do. Let's bring in Alex Web

818
00:44:24,800 --> 00:44:28,120
Speaker 1: for more on this. Who's been following the Twitter Musk saga?

819
00:44:28,440 --> 00:44:31,200
Speaker 1: Really from the get go? Or Bloomberg quick take correspondent

820
00:44:32,080 --> 00:44:35,879
Speaker 1: before we get to what sparked this pole, Alex, I mean,

821
00:44:36,480 --> 00:44:41,400
Speaker 1: what an incredible run of weeks of turbulence for Twitter

822
00:44:41,680 --> 00:44:46,480
Speaker 1: and Elon Musk since the buyout. It certainly made our

823
00:44:46,560 --> 00:44:49,000
Speaker 1: troves a little bit hard because then we step in

824
00:44:49,080 --> 00:44:51,720
Speaker 1: and try to write something, make a video, report anything

825
00:44:51,719 --> 00:44:54,400
Speaker 1: out all changes. Uh, it's you know, even just in

826
00:44:54,480 --> 00:44:57,400
Speaker 1: the past twenty four hours, we've seen scisfic changes in

827
00:44:57,400 --> 00:44:59,360
Speaker 1: the direction of travel, and of course the impact of

828
00:44:59,480 --> 00:45:03,640
Speaker 1: that is that the brands who essentially pay the bills

829
00:45:03,680 --> 00:45:06,839
Speaker 1: at Twitter because of there, who advertised on there they've

830
00:45:06,840 --> 00:45:09,160
Speaker 1: pulled back a lot of their advertising and that's created

831
00:45:09,800 --> 00:45:12,880
Speaker 1: cast flowers. Is that we don't quite a scale of it.

832
00:45:13,000 --> 00:45:15,320
Speaker 1: We know we have to find one point two billion

833
00:45:15,840 --> 00:45:19,160
Speaker 1: a year to repay the debt obligations. You then look

834
00:45:19,200 --> 00:45:23,359
Speaker 1: at the kind of other operating expenses that Twitter has,

835
00:45:23,680 --> 00:45:26,920
Speaker 1: you know, the kind of operating expensive three and a

836
00:45:26,960 --> 00:45:30,000
Speaker 1: half billion a year. How easy is it to cover those?

837
00:45:30,360 --> 00:45:34,399
Speaker 1: Clearly getting one imagined more difficult. Yeah, I mean that's

838
00:45:34,400 --> 00:45:36,239
Speaker 1: a big part of this story, isn't it Just the

839
00:45:36,360 --> 00:45:39,759
Speaker 1: fact that all the changes that Elon Musk has made

840
00:45:39,800 --> 00:45:43,120
Speaker 1: since he took over really rubbed so many advertisers the

841
00:45:43,239 --> 00:45:46,239
Speaker 1: wrong way. And now we got this report just this

842
00:45:46,400 --> 00:45:50,040
Speaker 1: last week that Elon Musk was looking for more private

843
00:45:50,080 --> 00:45:53,880
Speaker 1: investors to come in at the twenties share price that

844
00:45:54,360 --> 00:45:57,120
Speaker 1: he bought the company for. How much behind the scenes

845
00:45:57,200 --> 00:46:01,160
Speaker 1: pressure is there potentially for Elon us to follow through

846
00:46:01,200 --> 00:46:04,320
Speaker 1: if the results of this poll come down with the

847
00:46:04,400 --> 00:46:07,320
Speaker 1: majority in the yes side, that he actually goes ahead

848
00:46:07,360 --> 00:46:10,160
Speaker 1: and does this and stuffs aside a CEO. So we

849
00:46:10,200 --> 00:46:12,920
Speaker 1: haven't seen any reporting yet on what they're behind the

850
00:46:13,000 --> 00:46:15,120
Speaker 1: scenes pressure might look like, but we can look at

851
00:46:15,160 --> 00:46:17,840
Speaker 1: the things that we do know, namely that um, you know,

852
00:46:18,000 --> 00:46:22,320
Speaker 1: last week Tesla had its worst week in two years.

853
00:46:22,960 --> 00:46:25,839
Speaker 1: UM it lost six last week alone over the course

854
00:46:25,840 --> 00:46:28,400
Speaker 1: of five days trading. UM the stock is now up

855
00:46:28,480 --> 00:46:31,840
Speaker 1: on the prospect of Elon must stepping down at Twitter.

856
00:46:32,280 --> 00:46:36,040
Speaker 1: We also know that he was out looking for additional

857
00:46:36,719 --> 00:46:40,360
Speaker 1: investment in Twitter itself. It's not hard to imagine that,

858
00:46:40,600 --> 00:46:42,759
Speaker 1: you know, maybe in some of those conversations people might

859
00:46:42,800 --> 00:46:47,040
Speaker 1: be saying, well, maybe we will invest, but not necessarily

860
00:46:47,080 --> 00:46:49,759
Speaker 1: with you as CEO. That's purely speculation, But you know,

861
00:46:49,920 --> 00:46:52,680
Speaker 1: if you look at the timeline of events, it's not

862
00:46:52,800 --> 00:46:54,720
Speaker 1: hard to imagine that something like that might have been feasible.

863
00:46:55,080 --> 00:46:59,000
Speaker 1: What is this whole episode done for Elon Musk's position

864
00:46:59,600 --> 00:47:01,799
Speaker 1: sc of his other companies? I mean, you look at

865
00:47:01,840 --> 00:47:04,480
Speaker 1: Tesla shares right now, they're popping in the pre market

866
00:47:04,520 --> 00:47:08,080
Speaker 1: on the idea that Elon Musk could step aside as

867
00:47:08,120 --> 00:47:12,120
Speaker 1: CEO of Twitter and presumably focus more attention on Tesla.

868
00:47:12,360 --> 00:47:17,080
Speaker 1: But has this whole episode sort of shaken confidence among

869
00:47:17,320 --> 00:47:20,520
Speaker 1: Tesla investors and whether he should continue in leadership of

870
00:47:20,600 --> 00:47:23,800
Speaker 1: that company. It's kind of hard to tell, because you know,

871
00:47:24,000 --> 00:47:29,560
Speaker 1: ultimately is Tesla trading down because people are seeing aside

872
00:47:29,600 --> 00:47:32,560
Speaker 1: of Elon they didn't know, Or is Tessla trading down

873
00:47:32,680 --> 00:47:35,799
Speaker 1: because they're not getting as much eilon as they would like, Right,

874
00:47:35,960 --> 00:47:38,160
Speaker 1: It's quite hard to tell what the what the truth

875
00:47:38,280 --> 00:47:40,360
Speaker 1: is there. Ultimately, you know, Test has been trading in

876
00:47:40,440 --> 00:47:43,279
Speaker 1: excess of thirty time, and in excess of thirty times

877
00:47:43,360 --> 00:47:46,760
Speaker 1: it's forward earnings. The broader market trades at about twenty

878
00:47:46,800 --> 00:47:49,880
Speaker 1: two times forward earnings. Car makers tend to trend attend

879
00:47:49,920 --> 00:47:53,439
Speaker 1: to trade significantly below ten times forward earnings. So there's phaps,

880
00:47:53,480 --> 00:47:55,640
Speaker 1: a little bit of correction bringing it back into the

881
00:47:55,880 --> 00:47:59,800
Speaker 1: into the realms of the broader automotive industry, although so

882
00:48:00,120 --> 00:48:02,640
Speaker 1: long way it's training a significant premium still to all

883
00:48:02,719 --> 00:48:06,800
Speaker 1: of that. Um the idea that he might be stepping

884
00:48:06,840 --> 00:48:10,080
Speaker 1: down from Twitter has clearly benefited Tesla stock in the

885
00:48:10,160 --> 00:48:12,759
Speaker 1: pre market, as you say, which suggests perhaps that people

886
00:48:12,840 --> 00:48:15,400
Speaker 1: want more Elon, they don't want less. The Tesla investors

887
00:48:15,440 --> 00:48:17,520
Speaker 1: are invested in him just as much as they are

888
00:48:17,520 --> 00:48:20,399
Speaker 1: in that company. Got about a minute left here before

889
00:48:20,480 --> 00:48:24,360
Speaker 1: we uh find out just exactly what the results of

890
00:48:24,440 --> 00:48:28,200
Speaker 1: this pole are If Musk does step down as the

891
00:48:28,280 --> 00:48:31,040
Speaker 1: CEO of Twitter. Alex who fills the gap. I mean

892
00:48:31,760 --> 00:48:34,799
Speaker 1: either half of the workforce has been fired or has

893
00:48:34,880 --> 00:48:37,279
Speaker 1: decided to leave the company after all the Delon Musk

894
00:48:37,320 --> 00:48:39,560
Speaker 1: has done. I mean that is the sort of forty

895
00:48:39,600 --> 00:48:42,880
Speaker 1: four billions or a question, isn't it. Jack Dorsey is

896
00:48:43,160 --> 00:48:45,400
Speaker 1: in the former CEO who had stepped down or to

897
00:48:45,640 --> 00:48:48,800
Speaker 1: concentrate on on Block as it's now called. His payments

898
00:48:48,880 --> 00:48:52,440
Speaker 1: company is perceived to be very close to Elon Um

899
00:48:53,480 --> 00:48:55,840
Speaker 1: whether he would want to work for him different matter entirely.

900
00:48:56,280 --> 00:48:59,440
Speaker 1: There are plenty of capable people out there, um, whether

901
00:48:59,640 --> 00:49:02,880
Speaker 1: you know, questioned, playful people who want to work essentially

902
00:49:02,920 --> 00:49:06,360
Speaker 1: for Elon Musk under these circumstances. Al Right, well, we do,

903
00:49:06,640 --> 00:49:08,520
Speaker 1: as I say, expect the results of this poll to

904
00:49:08,760 --> 00:49:10,839
Speaker 1: uh come down in just a couple of minutes here

905
00:49:10,840 --> 00:49:13,000
Speaker 1: around six twenty Wall Street time. It was around that

906
00:49:13,120 --> 00:49:16,520
Speaker 1: time yesterday that Elon Muska posted this poll on Twitter

907
00:49:16,600 --> 00:49:19,840
Speaker 1: asking whether he should stay or go as CEO of Twitter. So,

908
00:49:20,040 --> 00:49:22,319
Speaker 1: Alex hope you will stay with us for the next

909
00:49:22,360 --> 00:49:26,279
Speaker 1: couple of minutes here as we find out exactly what

910
00:49:26,920 --> 00:49:30,000
Speaker 1: the people say who used Twitter and took part in

911
00:49:30,040 --> 00:49:33,320
Speaker 1: this poem, whether Elon Musk should step beside as CEO

912
00:49:34,080 --> 00:49:36,840
Speaker 1: head of that. SMP futures are up thirteen points, Staff

913
00:49:36,840 --> 00:49:39,439
Speaker 1: futures up eighty eight, Nasdaq futures of forty nine points.

914
00:49:39,480 --> 00:49:43,960
Speaker 1: Tesla shares higher by four point six percent. Stay with us,

915
00:49:44,360 --> 00:49:46,440
Speaker 1: you're listening to Bloomberg Daybreak