Speaker 1: Markets, headlines and breaking news twenty four hours a day
Speaker 1: at Bloomberg dot Com, the Bloomberg Business and at Bloomberg
Speaker 1: Quick Tape. This is a Bloomberg Business lash. But I'm
Speaker 1: Karen Moscow and we continue to watch shares a Tesla
Speaker 1: this morning up more than four and a half percent
Speaker 1: following that poll on Elon Musk's future. Will have more
Speaker 1: details at creating Kupta in just a moment, but first
Speaker 1: futures are higher s and Key Future is up about
Speaker 1: ten points or two tenths of upper sent Dal Future
Speaker 1: is up fifty six or two tenths of upper cent,
Speaker 1: and as Deck futures have a third of upper cent
Speaker 1: or forty points. The decks in Germany's up four tenths
Speaker 1: of upper cent. Ten year treasury down nine thirty seconds.
Speaker 1: You'll three point five one per cent yield on the
Speaker 1: two year four point one seven percent now. Max Screwed
Speaker 1: oil is up four tenths percent or thirty three cents
Speaker 1: at seventy four dollars sixty two cents in barrel coll
Speaker 1: make school of a quarter percent or four dollar sixty
Speaker 1: cents and eighteen o four eighty and ounce the euro
Speaker 1: one point oh six oh seven against the dollar is
Speaker 1: bound one point one eight five and again at one
Speaker 1: thirty six point to five. And as a Bloomberg business flash,
Speaker 1: Nathan Okay, Karen, thank you to six fifties six on
Speaker 1: Wall Street Bloomberg surveillances. Next, first we take a look
Speaker 1: at the names moving in the pre market with Bloomberg
Speaker 1: Radio and TV Markets correspondent creating good dec creaty. We
Speaker 1: have to start with Tesla while we wait for official
Speaker 1: word from Elon Musk that he's gonna abide by the
Speaker 1: results of that Twitter poll and step aside and presumably
Speaker 1: focus more on his other companies. I mean that seems
Speaker 1: to be the mentality going into the share action this morning.
Speaker 1: T s L as your ticker about four point six
Speaker 1: per cent. This, of course, as you mentioned, comes from
Speaker 1: that poll which, by the way, fifty seven point five
Speaker 1: voted yes, we do want you to resign, So that
Speaker 1: is important when it comes to how he's going to
Speaker 1: act next. It's also important to mention that this dynamic
Speaker 1: that you've seen in Tesla shares is not a new one.
Speaker 1: We've seen this with the Twitter saga altogether. Every time
Speaker 1: Twitter shares rallied when it was public because of this
Speaker 1: deal getting closer and closer to getting closed, Tesla shares
Speaker 1: took a hit. So now the idea of that inverse
Speaker 1: correlation showing up again, the idea that if he is
Speaker 1: going to step down from Twitter, maybe Tesla will get
Speaker 1: more of his attention. That, of course, is his main business.
Speaker 1: So t s l A shares up about four point
Speaker 1: six percent. Remember this comes in the backdrop of the
Speaker 1: ev maker falling thirty three percent since the Twitter deal closed.
Speaker 1: It still has quite a bit of a gap to
Speaker 1: make up. Here. Shares training about a hundred and fifty
Speaker 1: seven dollars this morning. Nathan, You know, I thought by
Speaker 1: now this saga would end and it has not. Oh no,
Speaker 1: It's going to continue for quite some time. I have
Speaker 1: to imagine. And there's some other names, some pretty big
Speaker 1: names moving on, some new analysts recommendations as well. Yeah,
Speaker 1: Wall Street moving the stocks this morning. M r n
Speaker 1: as your ticket from Maderna shares up about four point
Speaker 1: six percent. Here as well, shares training around two oh
Speaker 1: two on the nearest stock exchange gains gains about like
Speaker 1: I said, four percent. Jeffreys upgrading the stock to buy
Speaker 1: from my hold, saying it can rebound in on a
Speaker 1: return of pipeline opportunities. Remember, Maderna was really under pressure
Speaker 1: because of this idea that a lot of these code vaccinations,
Speaker 1: which by the ways, making up a good chunk of
Speaker 1: its bottom line, not as much as Fiser, but still
Speaker 1: a good chunk, is actually going to lose a lot
Speaker 1: of his momentum and revenue that's gained over the last
Speaker 1: two years. But now Jeffrey saying, look, it's diversifying, it's
Speaker 1: looking into cancer treatments, looking into the drug therapies. That
Speaker 1: is all going to be a positive for the stock.
Speaker 1: And remember, Majerna isn't alone. You've seen this with a
Speaker 1: lot of biotech companies. J and J is a big
Speaker 1: one who rides therapeutics and am Gin that deal a
Speaker 1: couple of days ago. So this is becoming a bigger
Speaker 1: and bigger theme in biotech that they are actually looking
Speaker 1: to diversify their portfolio. Um and speaking of analyst recommendations,
Speaker 1: let's also look at Netflix here. N f l X
Speaker 1: is your taker up about three tenths of one percent
Speaker 1: in the pre market. Any price target raise. Over at
Speaker 1: Morgan Stanley, they're saying on the back of currency swings,
Speaker 1: it's an interesting take, saying that even though the broker
Speaker 1: has flagged risks that expectations of valuations have run it
Speaker 1: too far, too fast, those currency swings might actually work
Speaker 1: in Netflix's favor. Remember a lot of their new growth
Speaker 1: is coming from abroad, not from the US, So it's
Speaker 1: the dollar weekends. It's going to work in your favor. Yeah,
Speaker 1: it was something that we're called read Hastings talked a
Speaker 1: lot about in the last earnings call about potential currency
Speaker 1: headwinds for Netflix. So a very interesting call there. Thanks
Speaker 1: for this, Creaty. Good speaking with you. Bloomberg Radio and
Speaker 1: TV Markets correspondent Creaty gooped up. Futures moving higher this morning.
Speaker 1: This is Bloomberg Daybreak. I'm Nathan Hager along with Karen
Speaker 1: Moscow six fifty nine on Wall Street. Stay with us.
Speaker 1: Bloomberg Surveillance starts right now, Live from the financial capital
Speaker 1: of the world, broadcasting across the globe. This is g
Speaker 1: w B b R, New York, Bloomberg Living Trio. Given
Speaker 1: the fact that the economy is likely to contract next year,
Speaker 1: Central Bank, Markets, headlines and breaking news twenty four hours
Speaker 1: a day at Bloomberg dot Com, The Bloomberg Business at
Speaker 1: and at Bloomberg quick take, He's a blue Bird business lash,
Speaker 1: and I'm Karen Moscow. These updates brought to you by
Speaker 1: Interactive Burger's Vaughn Marketplace access their vast selection of over
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.
Speaker 1: We go to the first Word breaking news dance for
Speaker 1: today's morning call. Here's Bill Maloney, Bill, Good morning, Hey,
Speaker 1: Good morning, Karen. That's right. US futures with a bid
Speaker 1: right now, with down futures of seventy two points, SAPs
Speaker 1: game eleven and nastic futures rise by forty four. The
Speaker 1: US ten year at three point five to, Gold is
Speaker 1: up three, oil is in the green, and bitcoin is
Speaker 1: trading little changed. Japan fell one overnight, while up markets
Speaker 1: are also trading in the green this morning, and back
Speaker 1: in the US on the economic front, at ten o'clock,
Speaker 1: the NHB Housing Market index. In deal news L three,
Speaker 1: Harris is buying arrow at Rocket Dine in a four
Speaker 1: point seven billion dollar deal. And in other news, Morgan
Speaker 1: Stanley's Wilson says US profit drop could rival two thousand
Speaker 1: and eight, and a must poll shows fifty eight percent
Speaker 1: of voters want him to exit as the head of Twitter.
Speaker 1: Tesla is up four point six percent in the pre market.
Speaker 1: Wrapping things up, Amprise was cut to market reform at KBW,
Speaker 1: Baxter cut in neutually at JP Morgan and Moderner raised
Speaker 1: to buy over at Jefferies Live. From the first breaking
Speaker 1: news dostcom Bill Malodey care great, Bill, Thank you to
Speaker 1: here Lie breaking news of her Bloomberg type squawk on
Speaker 1: your terminal squ A w U K and S Bloomberg
Speaker 1: business Flash. Now, here's Michael Barrow with Moore on what's
Speaker 1: going on around the world. Michael Karen, thank you very much.
Speaker 1: The House Committee investigating the January sixth sult on the
Speaker 1: Capitol holds its final public hearing today January six. Committee
Speaker 1: member Adam Schiff says that he thinks there is sufficient
Speaker 1: evidence to charge former President Trump. Title forty two is
Speaker 1: set to expire on Wednesday. Will pass Out has declared
Speaker 1: a state of emergency due to an influx of migrants
Speaker 1: in the NFL. The Giants beat the Commanders, the Jets
Speaker 1: and Patriots lost in the NBA the next Nets one.
Speaker 1: The Celtics and Wizards lost, the Warriors one in the NHL,
Speaker 1: the Rangers one. Argentina beat France to win the World Cup.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred
Speaker 1: journalists and analysts more than twenty countries. Michael Bar this
Speaker 1: is Bloomberg Hearing alright, Michael Barr, thank you, and at
Speaker 1: six forty two on Walls Street. And let's turn to
Speaker 1: news now in science and technology with the Bloomberg and
Speaker 1: j I t Stem Report. And here's what's making news
Speaker 1: in science, Technology, engineering and math. India and Vietnam are
Speaker 1: emerging as Apple's next manufacturing hubs as assemble partners seat
Speaker 1: to diversify its supply chain that's heavily centered on China.
Speaker 1: The multiyear effort to add resiliency to the supply chain,
Speaker 1: which began before COVID nineteen, they move as much of
Speaker 1: the third of its capacity to those Asian nations as
Speaker 1: well as Brazil. The updated COVID NAT booster shots give
Speaker 1: adults ages sixty five and older the greatest level of
Speaker 1: protection against hospitalization. This is according to new US government data.
Speaker 1: The CDC says by valent boosters were effective at preventing
Speaker 1: hospitalizations due to COVID in this group compared with people
Speaker 1: of the same age who got two or more doses
Speaker 1: of the original formulation of the vaccine and L three.
Speaker 1: Harris Technologies has agreed to by rocket engine maker Aerojet
Speaker 1: Rocket Din in a multibillion dollar deal. Aero Jet makes
Speaker 1: a range of rockets, including hypersonic engines and electric power
Speaker 1: systems for customers including NASA, Boeing, Raytheon, and Lockheed Martin.
Speaker 1: And that's the Bloomberg n j I t STEM Report.
Speaker 1: Nathan Okay, Karen, thank you for coming up to sixty
Speaker 1: four on Wall Street Time Now to check what's going
Speaker 1: on in d C. Some of the top stories Internation's
Speaker 1: capital include the trump are Title forty two policy that
Speaker 1: turns away migrants of the border for pandemic reasons expires
Speaker 1: on Wednesday. Texas Governor Greg Abbott is predicting, quote, total
Speaker 1: chaos at the border if that happens, whether it's COVID
Speaker 1: or some other issue. When you have people coming across
Speaker 1: the globe without knowing at all what their health status is,
Speaker 1: that almost by definition is a public health rest. There's
Speaker 1: every reason to keep that in place. When Democratic Senator
Speaker 1: Alex Padilla of California says it's pastime for Title forty
Speaker 1: two to go away. For all the Republican rhetoric about
Speaker 1: chaos at the border, open bords, etcetera. Number one, they
Speaker 1: have yet to come forward with a plan of how
Speaker 1: to better handle the scenario. Number two, they have not
Speaker 1: been willing to commit the additional resources that the Department
Speaker 1: and agency say that they need. Senator Padilla and Governor Abbott,
Speaker 1: we're on a b C S this week. Also making news,
Speaker 1: West Virginia Senator Joe Manchin saying he has no intentions
Speaker 1: to leave the Democratic Party for now. As a BYPARS
Speaker 1: Infrastructure Bill and the Inflation Reduction Act, Let's see how
Speaker 1: that plays out. If people are trying to stop something
Speaker 1: from doing so much good because of the politics, thinking
Speaker 1: that somebody else will get credit for it, Let's see
Speaker 1: how that plays out. Now. I'll let you know later
Speaker 1: what I decided to do. Senator Mansion was a guest
Speaker 1: on CBSS Face the Nation, which him be heard every
Speaker 1: Sunday on Bloomberg Radio along with ABC's This Week, Let's
Speaker 1: Bring in Bloomberg Government reporter Emily Wilkins for more on
Speaker 1: what's happening in the nation's capital. Of course, one of
Speaker 1: the really big stories is happening this afternoon, Emily, when
Speaker 1: the House January six Committee meets. But with so much
Speaker 1: of the focus on the Sunday shows about the title
Speaker 1: forty two being lifted this coming Wednesday, how is the
Speaker 1: White House preparing? So the White House knew that obviously
Speaker 1: that this was coming for a while. This is something
Speaker 1: that they wanted to see happen. And we know that
Speaker 1: they are preparing for more migrants to be arriving at
Speaker 1: the southern border and to be able to deal with
Speaker 1: this official set earlier this year that they're preparing for
Speaker 1: as many as eighteen thousand arrivals per day, more than
Speaker 1: current double numbers. But they are expecting an intake increase
Speaker 1: rather in that and so one of the things, of course,
Speaker 1: there's also a lot of debate going on at the
Speaker 1: time over this policy, over what to be done at
Speaker 1: the border. Remember, Republicans in Congress state that they do
Speaker 1: want to investigate Homeland Secretary Alejandro Maracas and that they
Speaker 1: are concerned about what's happened at the Borders, who certainly
Speaker 1: expect to be hearing much more about him as Republicans
Speaker 1: take control of the Chamber and begin their investigations next year.
Speaker 1: Now also interesting to hear some of that speculation rise
Speaker 1: up around West Virginia Senator Joe Manchin and his future
Speaker 1: in the Democratic Party, now that Arizona's Kirsten Cinema has
Speaker 1: already announced that she's becoming an independent Sharon. That's obviously
Speaker 1: is not the first time that Mansion has been faced
Speaker 1: with questions on whether or not he'll leave his party.
Speaker 1: I feel like we had the storyline a couple of
Speaker 1: different times in the last two years. But Mansion is
Speaker 1: still saying that he's gonna stick with the Democrats for now. Uh.
Speaker 1: Part of it is going to be, of course, just
Speaker 1: a matter of numbers at Democrats US too. Then you're
Speaker 1: suddenly going to see a chamber where it's going to
Speaker 1: have very difficult to govern and to get things done.
Speaker 1: And and even Senator Sema has said that she's going
Speaker 1: to be, you know, supporting a lot of things that
Speaker 1: she supported before as far as Joe Biden's nominees judges. Uh,
Speaker 1: some of the things that just sort of helped the
Speaker 1: Senate run on a day to day basis, and that
Speaker 1: we didn't have last year in part because of the
Speaker 1: fifty fifty even split um. And we'll see what happens
Speaker 1: with Mansion. I mean, he does have a very competitive
Speaker 1: primary coming up in and certainly a lot of people
Speaker 1: have pointed out that for Senator Cinema, her political future
Speaker 1: really behooved her switching to an independent. She was being
Speaker 1: challenges from other Democrats. Will see what happens with Mansion.
Speaker 1: Might be as this West Virginia primary shapes up a
Speaker 1: little bit, maybe he too will feel some pressure to
Speaker 1: run as an independent or even as a Republican. But
Speaker 1: I think for right now, there's a sense that Mansion
Speaker 1: does have a very high approval rating in West Virginia,
Speaker 1: regardless of this party, and that might mean that he's
Speaker 1: able to successfully run as a Democrat and that he
Speaker 1: doesn't really feel that need to switch parties. All right,
Speaker 1: our last minute here, Emily, let's get to the main
Speaker 1: event of the day. It sounds like every indication is
Speaker 1: there going to be criminal referrals coming out of the
Speaker 1: House January six Committee this afternoon. I mean, that's what
Speaker 1: the committee is going to vote on Nathan, and we've
Speaker 1: seen the committee being locked step this entire time. I mean, certainly,
Speaker 1: there there have been no surprises for the nine members
Speaker 1: of of this committee. Everything has been highly coordinated. UM.
Speaker 1: I think the general consensus is that they would not
Speaker 1: be bringing these referrals forward if they were not able
Speaker 1: to pass them. And certainly, I think then the big
Speaker 1: question becomes, what is the impact is that's going to
Speaker 1: have on Trump's bid for the White House. We've already
Speaker 1: seen a number of independents get frustrated with him. That's
Speaker 1: why Democrats had a far better night than expected this
Speaker 1: past election. UM. And this criminal referral really means that
Speaker 1: we're going to continue to see information on Trump, information
Speaker 1: on him from the Department of Justice. Uh. And it'll
Speaker 1: be very interesting to see what, if anything additionally is found.
Speaker 1: Of course, we are waiting for this report to come
Speaker 1: out this week from all of what the January six
Speaker 1: Committee has put together, just more details into the interviews
Speaker 1: they've done, the data that they've gathered, and we'll be
Speaker 1: seeing what bomb shows that report contains. We're expecting that
Speaker 1: I believe this Wednesday to drop all right, and we'll
Speaker 1: be watching for a Bloomberg government reporter Emily Wilkins with
Speaker 1: us from the nation's capital. Read more at Bloomberg dot
Speaker 1: com or on the Bloomberg terminal and listen to Bloomberg
Speaker 1: Radio in Washington Bloomberg and one oh five point seven
Speaker 1: FM HD two. Of course, we'll have full coverage extended
Speaker 1: coverage of the House January six Committee hearing this afternoon,
Speaker 1: updates throughout the day here on Bloomberg Radio. Right now
Speaker 1: SMP futures moving higher by eight points, and you're listening
Speaker 1: to Bloomberg Daybreak, Markets, headlines and breaking news twenty four
Speaker 1: hours a day at Bloomberg dot Com, bloo Bloomberg Business
Speaker 1: at End at Bloomberg Quicktake. He's a Bloomberg Business Flash
Speaker 1: and I'm Karen Moscow. And global stocks are attempting to
Speaker 1: recover after two weeks and losses sparked by concern that
Speaker 1: continued policy tightening by the FED into their central banks
Speaker 1: could trigger economic recession and hit profits. We checked the
Speaker 1: markets all day long here on Bloomberg. S and P
Speaker 1: future is a fifteen points and down futures have ninety seven,
Speaker 1: as day futures have fifty two. The decks in Germany's
Speaker 1: have six tents of upper sent the ten year treasury
Speaker 1: down ten thirty seconds here three point five one percent,
Speaker 1: healed on the two year four point one seven percent.
Speaker 1: Nine max screwed oil of four tens per cent or
Speaker 1: twenty nine cents at seventy four dollars fifty eight cents
Speaker 1: of barrel Co makes gold up three tens per cent
Speaker 1: or five dollars seventy cents at eighteen oh five ninety
Speaker 1: announced And as a Bloomberg business flash, now here's Michael
Speaker 1: Barr with more on what's going on around the world.
Speaker 1: Michael Karen, thank you kindly. The House January six Committee
Speaker 1: is wrapping up its investigation into the violent US capital riot,
Speaker 1: and the final meetings eduled for today. The penalists poised
Speaker 1: to recommend that the Justice Department considered criminal charges against
Speaker 1: former President Donald Trump. Authorities in Ukraine's capital Kiev, saying
Speaker 1: it's being targeted in a new attack and critical infrastructure
Speaker 1: points have been hit. In the NFL, the Giants beat
Speaker 1: the Commanders, The Jets and Patriots lost in the NBA,
Speaker 1: the next Nets one, the Celtics and Wizards lost, the
Speaker 1: Warriors one. In the NHL, the Rangers winners and Argentina
Speaker 1: beat France to win the World Cup. Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quick
Speaker 1: Take Power by more than twenty d journalists analysts more
Speaker 1: than a hundred twenty countries. Michael bar this is Bloomberg.
Speaker 1: This he is breaking you. Who's from Bloomberg, Nathan Haygar
Speaker 1: And we have been telling you all morning about this
Speaker 1: poll to decide whether Elon Musk remains in a leadership
Speaker 1: role at the company he just bought weeks ago. That
Speaker 1: poll has closed and we get the results live and
Speaker 1: now with Bloomberg Steve Rappaport. What's the results, Steve, Nathan.
Speaker 1: The tweeters have spoken and if Musk makes good on
Speaker 1: his pledge, he will respect the will of the people
Speaker 1: and stepped down as Twitter CEO. With more than seventeen
Speaker 1: million votes cast in a poll created by Musk, fifty
Speaker 1: seven percent said they want him out. Now checking over
Speaker 1: his feed, let's see if he has commented yet up
Speaker 1: so far, no word from Musk on the outcome of
Speaker 1: the contest. Since taking over Twitter about seven weeks ago,
Speaker 1: Musk made a series of bold and sometimes controversial moves.
Speaker 1: He fired thousands of workers, dissolved in Oversight Committee reinstated
Speaker 1: former President Trump's account and publicly feuded with Apple. His
Speaker 1: conduct made some advertiser's question whether associating with Twitter's new
Speaker 1: owner would be bad for business. Musk's Twitter antics also
Speaker 1: had investors in Tesla worried he's too distracted with his
Speaker 1: latest venture once again. The poll posted by Elon Musk
Speaker 1: results are in. Fifty seven percent of respondents say he
Speaker 1: should step down as CEO. Breaking news on Bloomberg Radio.
Speaker 1: I'm Steve Rappaport, Nathan Okay, Steve, thank you, and we
Speaker 1: bring back Bloomberg Quick Take correspondent Alex Webb for instant
Speaker 1: analysis and reaction to the results of this poll. I'm
Speaker 1: sure you're feverishly refreshing your screen of Elon Musk's Twitter
Speaker 1: feed to see if he gives us any comment, But
Speaker 1: the last couple of tweets we got from the now
Speaker 1: current CEO of Twitter, Alex. Of course, as the saying goes,
Speaker 1: be careful what you wish for, as you might get it,
Speaker 1: and those who want power are the ones who least
Speaker 1: deserve it. Your thoughts now that the people, as they say,
Speaker 1: have spoken, well, you know the thing that both brands
Speaker 1: and investors don't like is uncertainty, and unfortunately, for now,
Speaker 1: this seems you've created more uncertainty. Uh. Some of the
Speaker 1: tweets of Elon's tweets subsequent to posting the poll said
Speaker 1: that there is quote no one who wants the job
Speaker 1: who can actually keep Twitter alive. There is no successor,
Speaker 1: so um, you know, even if he was facing pressure
Speaker 1: from potensional investors, existing investors, not Tesla and Esta's to
Speaker 1: consider stepping down, it doesn't seem like there's an obvious
Speaker 1: succession plan in place. So we'll have to see how
Speaker 1: the day pans out, whether he will indeed step down
Speaker 1: immediately or at all, or as is perhaps most likely,
Speaker 1: in a few months or weeks, when someone has been
Speaker 1: found to come in in his stead. Now, we've also
Speaker 1: been watching Tesla shares on the news that Elon Musk
Speaker 1: could step aside. They've been hovering around the four point
Speaker 1: seven four percent range and popped as high as five
Speaker 1: percent at one point. It looks like they're kind of
Speaker 1: sticking to that range. In our last minute here, Alex,
Speaker 1: what does that tell you about Twitter in or I'm
Speaker 1: sorry Tesla investors sentiment on Elon Musk's next move I
Speaker 1: think they're clearly optimistic about the prospect. You've been spending
Speaker 1: more time at Tesla, which is not without its own
Speaker 1: problems at the moment with electric car delt slowing, problems
Speaker 1: with the manufacturing facility in Shanghai, the stactory they're trying
Speaker 1: to bring online in Austin. All these problems needs solvings.
Speaker 1: Of the distraction of everything that's going on on Twitter
Speaker 1: probably has not been helping um investor confidence and says
Speaker 1: that we've seen that bump this morning. Obviously the huge
Speaker 1: great surprises because you could see the poll happening in
Speaker 1: real time, and the likelihood of him adding three million
Speaker 1: votes in the last minute and a half seemed pretty slim.
Speaker 1: And the final results, with seventeen and a half million
Speaker 1: Twitter users voting on whether Elon mush had stepped down
Speaker 1: his head of Twitter, fifty seven and a half percent
Speaker 1: say yes, forty two and a half percent say no.
Speaker 1: Elon Musk, in that tweet announcing the poll twelve hours ago,
Speaker 1: said he would abide by the results, of course, will
Speaker 1: continue following to see whether he makes good on that pledge.
Speaker 1: Bloomberg Quick Take correspondent Alex Webb, thanks for sticking around
Speaker 1: a little bit extra. As we've watched that poll draw
Speaker 1: to a close, We're gonna have much more of this
Speaker 1: morning's top stories, local headlines, and a full check of
Speaker 1: markets as well. First, let's bring back Bloomberg Meteorologist Rob Carolyn.
Speaker 1: High pressure will slowly hit our way, keeping the weather
Speaker 1: quiet through Wednesday. Lots of sunshine today, it's breezing and
Speaker 1: chili with temperatures near forty degrees. Clear skies overnight those
Speaker 1: year thirty tomorrow more sunshine less than the way of
Speaker 1: wind Hiser close to forty Tomorrow afternoon we're cleared, partly
Speaker 1: cloudy in thirty Tomorrow night, partly to mostly sunny Wednesday,
Speaker 1: high forty. I'm Rob Carolvine with your three day forecast
Speaker 1: on Bloomberg eleventh, three oh broadcasting live from the Bloomberg
Speaker 1: Interacted Broker Studio in New York, Bloomberg Elving Freedom to Washington,
Speaker 1: d C, Bloomberg ninety one to Boston, Bloomberg one six
Speaker 1: one to San Francisco, Bloomberg nine six to the Country,
Speaker 1: Sirius XM Chado one nine team, and around the globe
Speaker 1: the Bloomberg Business and Bloomberg Radio dot Com. This is
Speaker 1: Bloomberg Daybreak. We're coming up to six thirty on Wall Street.
Speaker 1: Good morning, I'm Nathan Hagar and I'm Karen Moscow, where
Speaker 1: nearly three hours away from the open of US trade,
Speaker 1: ain't time to the five things you need to know
Speaker 1: to start your day. It has brought to you by
Speaker 1: I d k R Investment Advisers switched to Interactive Brokers
Speaker 1: for lowest cost global training and turnkey custody solutions, no
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Speaker 1: b k R dot com slash r I A first
Speaker 1: you've been give with more turmoil at Twitter, Elon must
Speaker 1: future role of the company is now in doubt, Bloomberg.
Speaker 1: Steve Rappaport joins US Live with the latest on that story. Steve,
Speaker 1: good morning, Good morning, Karen and Nathan. Twitter's outspoken owner
Speaker 1: surprisingly quiet this morning after a majority of Twitter voters
Speaker 1: in a poll he created said he needs to step
Speaker 1: down as CEO of Twitter. Musk pledging to abide by
Speaker 1: those results, but again no comment yet. Fifty cent said
Speaker 1: he needs to go this after a series of controversy
Speaker 1: since he took over the platform seven months seven weeks ago.
Speaker 1: And sometimes they say tweets can come back to haunt,
Speaker 1: and this one could be an example. Nine hours ago,
Speaker 1: Musk tweeted, those who want power are the ones who
Speaker 1: least deserve it. Live in New York. I'm Steve Rappaport
Speaker 1: Bloomberg day Break. Okay, Steve. Thanks. Turning to politics, the
Speaker 1: House January six committee votes on recommendations today and whether
Speaker 1: former President Trump should be prosecuted, among them obstructing an
Speaker 1: official government proceeding and conspiracy to the fraud the United States.
Speaker 1: Democratic Congressman Adam Shift says the former president's actions could
Speaker 1: also match criminal insurrection charges. This is someone who tried
Speaker 1: to interfere with the Joint Session, even inciting a mob
Speaker 1: to attack the Capitol. If that's not criminal, then I
Speaker 1: know what it is. Democratic Congressman Adam Shift tells CNN
Speaker 1: the committee has focused primarily on charges where there is
Speaker 1: the strongest evidence. All turning overseas to China right now, Nathan,
Speaker 1: the government's response to a COVID outbreak is front and center.
Speaker 1: More than a month after the country saw an exponential
Speaker 1: surge in COVID cases, is reporting minimal deaths from the
Speaker 1: virus just to today, has calling into question how Beijing
Speaker 1: is changing his approach to COVID and whether it's undercounting fatalities.
Speaker 1: Turning to markets, Karen, futures are higher this morning. Assets
Speaker 1: are still pricing central bank rhetoric. The SMP five hundred
Speaker 1: ended last week two percent lower after Hawk because remarks
Speaker 1: from the FED in the European Central Bank. Former Treasury
Speaker 1: Secretary Larry Summer says, even though markets took a hit,
Speaker 1: he has confidence in FED Shareing J. Powell, the broad
Speaker 1: picture is where it was. I've been gratified to see
Speaker 1: the ways in which the FED has caught up, but
Speaker 1: they've got very challenging judgments to make going forward. Former
Speaker 1: Treasury Secretary Larry Summers spoke on Bloomberg's Wall Street Week
Speaker 1: heard every weekend on Bloomberg Radio and television. Well, turning
Speaker 1: to oil now, Nathan, we're seeing swings between gains and
Speaker 1: losses this morning. Crewde Rose at the week's open. Following
Speaker 1: up ledge from China to revive consumption. There's also news
Speaker 1: about plan from the Biden administration to begin refilling the
Speaker 1: nation's strategic reserves. And I'm ex screwed oil. It's s
Speaker 1: seventy eight cents a gallon that's the five things you
Speaker 1: need to know to start your day. Brought to you
Speaker 1: by Interactive Brokers. Thanks hearing sixty one on Wall Street.
Speaker 1: Let's bring in Michael bar for a look at what
Speaker 1: else is going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morn Nathan. The Texas border town
Speaker 1: of El Paso as declared a state of emergency fearing
Speaker 1: an influx of migrants. This week, when titled forty two
Speaker 1: will likely end the Trump error provision returned all asylum
Speaker 1: seekers back to Mexico, forcing them to wait there while
Speaker 1: their asylum requests are processed. Texas Governor Greg Abbott defender
Speaker 1: the tough approach he's taken to border security, including the
Speaker 1: busting of more than fourteen thousand migrants from Texas. The
Speaker 1: so called sanctuary cities like New York I removed them
Speaker 1: to locations that self identified as sanctuary cities that have
Speaker 1: the capability and the desire to help out these migrants,
Speaker 1: and so that's exactly what's taken place. Meanwhile, Democratic Senator
Speaker 1: Alex Paedia of California pushed back for all the Republican
Speaker 1: rhetoric about chaos at the border, Open Boords etcetera. Number One,
Speaker 1: they have yet to come forward with a plan of
Speaker 1: how to better handle the scenario. Number two, they have
Speaker 1: not been willing to commit the additional resources that the
Speaker 1: apartments and agencies say that they need to handle this
Speaker 1: big influx. Senator Badilla and Governor Rabbitt spoke on ABC
Speaker 1: S this week, which can be heard Sundays on Bloomberg.
Speaker 1: We're learning more about the terrifying moments aboard Hawaiian Airlines
Speaker 1: flight thirty five from Phoenix to Honolulu yesterday. Severe turbulens
Speaker 1: injured dozens on board. Hawaiian Airlines Chief operating Officer John Snook,
Speaker 1: we do you know that there's internal damage to the aircraft.
Speaker 1: Some panels that are that are bently buckled, um that
Speaker 1: will need replacing and uh and the aircraft is undergoing
Speaker 1: a thorough inspection, is going to require some maintenance work
Speaker 1: before we put it back in the air. Hawaiian Airlines
Speaker 1: John Snook says the plane was carrying two passengers and crew.
Speaker 1: Sunday was the first night of Hanakah, and Jewish communities
Speaker 1: across the US are celebrating by lightning. Manures Global News
Speaker 1: twenty four hours a day on air and on Bloomberg
Speaker 1: Quicktake powered by more than twenty seven hundred journalists and
Speaker 1: analysts more than a hundred twenty countries. Michael bar this
Speaker 1: is Bloomberg, Nathan, Thanks Michael. Six thirty three on Wall
Speaker 1: Street Time for the Bloomberg Sports Update Frontier. If I
Speaker 1: try stayed out here, here again is John stanshow Banks.
Speaker 1: Three weeks ago on the NFL regular season, Giants and
Speaker 1: Jets both hoping to be wild card playoff teams. The
Speaker 1: Giants in much better shape they want. At Washington twenty
Speaker 1: to twelve, Daniel Jones finally winning in prime time. He'd
Speaker 1: been all in nine se Kwon Barkley scored a TV
Speaker 1: had some big runs in the fourth quarter. The defense
Speaker 1: held the Commanders. The only one touchdown Washington thought they
Speaker 1: had one final seconds wiped out by an illegal formation
Speaker 1: penalt vehic called disputed by the Commanders. At the season
Speaker 1: end of now, Giants would be the sixth seed in
Speaker 1: the NFC in Washington would also get in as the seven.
Speaker 1: The Jets are on the outside looking in at MetLife
Speaker 1: took their first leave with less than five minutes to go.
Speaker 1: Under two minutes left. Detroit had fourth and one at midfield,
Speaker 1: Founder's center, Justin Jackson on back offs Gounna throw it
Speaker 1: back and looking close wide open ut side, brock Right
Speaker 1: with it to the thirty. Brock Right twenty five, brock
Speaker 1: Ride twenty Cook back and the can he took five
Speaker 1: song touchdown Detroit Giants. My lines radio call the Jets.
Speaker 1: Greg's air line missed the game time fifty eight yard
Speaker 1: field goal final play Detroit one seventeen, the Jets third
Speaker 1: straight loss. They dropped to five hundred. Patriots and Raiders
Speaker 1: looked headed for overtime until New England started laterally in
Speaker 1: like teams do when they are trailing. The game was
Speaker 1: tie Las Vegas one, running a box lateral back for touchdown.
Speaker 1: Nicks Netson Rangers all one on the road. Winning streaks
Speaker 1: continued to Nixon Rangers seventh straight. The nets Of won
Speaker 1: their last six. Leonel Messi says he's not done playing
Speaker 1: for Argentina, who beat France four three and penalty kicks
Speaker 1: in an epic World Cup final. John Station, Bloomberg Sports,
Speaker 1: Nathan all Right, John, thank you, and Bloomberg Sports was
Speaker 1: brought to you by Audie. Don't let someone else drive
Speaker 1: off in the Outie model. You've always wanted. Visit your
Speaker 1: local tri state autie dealer to get behind the wheel
Speaker 1: of yours today, or visit autie Offers dot com for
Speaker 1: more information. Six thirty five on Wall Street, Bloomberg Radio
Speaker 1: is on the air from San Francisco to New York,
Speaker 1: London to Hong Kong. Let's check in with our global
Speaker 1: news team for some of the top stories heard on
Speaker 1: our three hundred affiliate radio stations around the world. I'm
Speaker 1: Steve Podascott K and X in Los Angeles. We're talking
Speaker 1: about the sale of the original animatronic model used to
Speaker 1: bring each eat a life in the classic sci fi movie.
Speaker 1: I'm Jeff Fullinger and on w tv N and Columbus.
Speaker 1: I'm reporting a majority of Americans doubt their personal finances
Speaker 1: will improve in the new year. I'm Stephen carl and
Speaker 1: Bloomberg DAB Radio in London. We've been speaking to the
Speaker 1: head of Germany's EFO Institute about their latest therapy showing
Speaker 1: a slice improvements in the business climate in Europe's largest economy.
Speaker 1: I'm Ed Cory on w w J in Detroit. I'm
Speaker 1: reporting the hybrid vehicle it's sticking around longer than many anticipated,
Speaker 1: and those are. Some of the stories are twenty seven
Speaker 1: hundred Bloomberg journalists and analysts are working on this morning
Speaker 1: around the world. It's six thirty six on Wall Street.
Speaker 1: The following commentary is from Bloomberg Opinion. What happened when
Speaker 1: the Bay Area rejected growth? I'm justin Fox, a columnist
Speaker 1: for Bloomberg Opinion. In nineteen fifty nine, the U. S.
Speaker 1: Commerce Department prepared a report about the future development of
Speaker 1: the San Francisco Bay Area. It foresaw the area's population
Speaker 1: quadrupling to fourteen point four million by two thousand twenty.
Speaker 1: This was to be accomplished mainly by turning agricultural land
Speaker 1: into suburban subdivisions, although the report included a map showing
Speaker 1: that most of the Bay could conceivably be converted to
Speaker 1: land if needed. That map, in particular, helped inspire a
Speaker 1: region wide backlash against growth that was understandable but eventually
Speaker 1: got out of hand. The Bay Area now has three
Speaker 1: quarters of its land area set aside as open space,
Speaker 1: the country's most expensive housing, and a host of related
Speaker 1: social and economic problems. It also has a population about
Speaker 1: half what was envisioned in nineteen fifty nine and falling.
Speaker 1: I'm justin Fox. For more opinion, please go to Bloomberg
Speaker 1: dot com slash Opinion, where O P I N go
Speaker 1: on the Bloomberg Terminal. This has been Bloomberg opinion and
Speaker 1: you can hear Bloomberg opinion commentaries every weekday. At this time,
Speaker 1: terminal customers can read more at O P I N go.
Speaker 1: SMP futures right now up twelve points down, futures up
Speaker 1: seventy six and NASDAC futures are hired by forty seven
Speaker 1: points ten, Your treasuries down ten thirty seconds, the old
Speaker 1: three point five one percent yield on the two year
Speaker 1: four point one seven percent. Nim X screws hired by
Speaker 1: six tenths percent or forty three cents at seventy four
Speaker 1: seventy two. A barrel comic gold is up three tenths
Speaker 1: percent or five dollar sixty cents at eighteen O five
Speaker 1: eighty announce and the euro right now trading at one
Speaker 1: point zero six zero nine against the dollar six thirty
Speaker 1: eight on Wall Street. Up next on day break, we
Speaker 1: wait for the January six committees end game and the
Speaker 1: end of a pandemic era immigration enforcement policy. Bloomberg Government's
Speaker 1: Emily Wilkins joins us. Next, This is Bloomberg Live from
Speaker 1: the Bloomberg Interactive Burger Studios. This is Bloomberg day Break
Speaker 1: for Monday, December nineteen two. Coming up this hour, new
Speaker 1: Twitter Paul could reshape leadership of the company. The January
Speaker 1: six Committee votes on the legal fate of former President Trump.
Speaker 1: COVID deaths in China come into focus as it pivots
Speaker 1: away from strict policies, and Marcus looked to recover from
Speaker 1: a FED induced skin How will the likely end of
Speaker 1: two fact Immigrants, States and Cities Plus with artist Manor
Speaker 1: in New York City was lit to begin anaka, I'm
Speaker 1: Michael barn More, I'm John stand Daron Sports that Giants
Speaker 1: held on for a big win at Washington, the Jets
Speaker 1: lost to Detroit and nixed Nets and Rangers All one.
Speaker 1: That's all s Trendy ahead on Bloomberg Daybreak on Bloomberg
Speaker 1: e Living Free on New York, Bloomberg one, Washington, d C,
Speaker 1: Bloomberg one oh six one, Boston, Bloomberg nine sixties and
Speaker 1: Francisco Syrius Exam one nine Team and around the world
Speaker 1: on Bloomberg Radio dot Com and via the Bloomberg Business app.
Speaker 1: Good morning. I'm Nathan Haygar and I'm car at Moscow.
Speaker 1: A US Knock Index futures are on the rise this morning,
Speaker 1: and we check the markets all day long here on
Speaker 1: Bloomberg radios, and P futures of fourteen points up a
Speaker 1: third of upper sent down futures up three tens per
Speaker 1: center ninety four points, and ASDAG futures of four tens
Speaker 1: per center forty eight points, and the ten year treasury
Speaker 1: down ten thirty seconds you three point five one percent.
Speaker 1: They yield on the two year at four point one
Speaker 1: seven percent, Nathan, Karen. We'll get more on markets in
Speaker 1: a minute, but we begin this morning with turmoil at Twitter,
Speaker 1: even more of it with a new Twitter poll that
Speaker 1: could determine Elon Musk's future role with the company. Bloomberg.
Speaker 1: Steve Rappaport joins US Live with the latest. Good morning, Steve,
Speaker 1: Good morning, Nathan and Karen. Two questions dominate the Twitter
Speaker 1: sphere this morning. First, will users vote Musk out as CEO?
Speaker 1: We'll get the answer to that one. In less than
Speaker 1: twenty minutes. More than seventeen million users voted saying Musk
Speaker 1: must go if they a's have it, What happens next.
Speaker 1: Musk pledge to abide by the results of the poll
Speaker 1: he created, but an opinion poll is us that meaning
Speaker 1: he's not legally required to make good on his word.
Speaker 1: Live in New York, I'm Steve Rappaport Bloomberg Daybreak. All right, Steve,
Speaker 1: thanks well. Turning to a major headline in politics this morning.
Speaker 1: The House January six Committee votes today on recommendations that
Speaker 1: former President Trump be prosecuted, Bloomberg said. Bachelor reports lawmakers
Speaker 1: are considering a number of charges, among them for obstructing
Speaker 1: an official government proceeding and conspiracuited to fraud the United States.
Speaker 1: Congressman Adam Schiff already saying that Trump's actions are pretty
Speaker 1: much a good match for criminal insurrection charges. This is
Speaker 1: someone who tried to interfere with the Joint Session, even
Speaker 1: inciting a mob to attack the Capitol. If that's not criminal,
Speaker 1: then I don't know what is. Recommendation could also come
Speaker 1: from Mark Meadows and Rudy Giuliani. Hearing at one pm
Speaker 1: Wall Street Time in San Francisco. I'm at Baxter Bloomberg Radio,
Speaker 1: All right, and thank you. Meantime, Senator kirston Cinema's defection
Speaker 1: from the Democratic Party continues to reverberate across Washington. Now
Speaker 1: it has some asking if Joe Manchon will do the same.
Speaker 1: The West Virginia senator, though, says he remains committed to
Speaker 1: the Democratic Party for now. They know how independent I am.
Speaker 1: The deed does not saddle me to everything the Democrats
Speaker 1: want to do. Is what's right. I don't think the
Speaker 1: Democrats have all the answers. I don't think the Republicans
Speaker 1: are always wrong and vice versa. I don't look at
Speaker 1: things that way. The Senator Mansion spoke on Face the
Speaker 1: Nation from CBS, which you can hear every Sunday on
Speaker 1: Bloomberg Radio. Well, let's turn overseas now to China, Nathan,
Speaker 1: where the government's response to a COVID outbreak is front
Speaker 1: and center. More than a month after the country saw
Speaker 1: an exponential surge in COVID cases, is reporting minimal deaths
Speaker 1: from the virus, and that's calling into question how Beijing
Speaker 1: is changing its approach to COVID. Bloomberge John lou has
Speaker 1: more in that story. Suspicion is growing that China maybe
Speaker 1: undercounting the number of COVID deaths in the country. That's
Speaker 1: after authorities reported to fatalities today, the first that's officially
Speaker 1: attributed to COVID since the country began pivoting away from
Speaker 1: COVID zero in early December. It's also amid media reports
Speaker 1: of increased activity and crematoriums if your homes in Beijing,
Speaker 1: and follows the report by Chinese outlets hishing the authorities
Speaker 1: of substantially narrow the definition of what a COVID death is.
Speaker 1: All of this is casting further doubt on how reliable
Speaker 1: China's official data is in Beijing. Joe Lou Blue Break,
Speaker 1: day break, Okay, John, Thanks. Turning to markets now, Futures
Speaker 1: are moving higher to begin the week. Assets are still
Speaker 1: adjusting to central bank rhetoric. We saw the SMP five
Speaker 1: hundred and last week two percent lower after hawksh remarks
Speaker 1: from the FED and the European Central Bank. Former Treasury
Speaker 1: Secretary Larry Summers tells us even though markets took a hit,
Speaker 1: he has confidence in FED share j Powell, the chairman
Speaker 1: is in about the right place. He's recognizing that we
Speaker 1: can't forecast the economy with precision. He's recognizing that it
Speaker 1: would be a terrible error if we were to fail
Speaker 1: to stop inflation. In this episode, Larry Summer says the
Speaker 1: FED should still be concerned with challenging decisions on the horizon.
Speaker 1: The former Treasury secretary was a guest on blue Burg's
Speaker 1: Wall Street week which you can hear every weekend on
Speaker 1: Bloomberg Radio and television. Well Nathan. Rhetoric from the Fed
Speaker 1: also reverberated across Asia. Overnight stocks in the region slid
Speaker 1: as type policy stoked fears of a global recession. At
Speaker 1: Bloomberg Daybreak, Asia anchor Brian Curtis has more Asian stocks
Speaker 1: declined as the Fed hammered home it's committed to raising
Speaker 1: interest rates. The yen extended gains for a second day.
Speaker 1: The yield on Japan's five year note rose to the
Speaker 1: highest in seven years. A Kyoto report said Japan's prime
Speaker 1: minister might allow more flexibility and monetary policy. A top
Speaker 1: government spokesman denied the report. The dollar was weaker. Brian Curtis,
Speaker 1: Bloomberg Daybreak. Okay, Brian, thanks back here in the US.
Speaker 1: There's more economic data to digest, and housing data takes
Speaker 1: center stage. Bloomberg's Viney Dell judais as a preview, we'll
Speaker 1: get data on the US builder confidence today, Housing starts tomorrow,
Speaker 1: existing home sales Wednesday at new home sales Friday. The
Speaker 1: builder confidence data provide a perfect illustration of US market conditions.
Speaker 1: Sentiment has been falling since the start of the year.
Speaker 1: The longest structure of the clients and data back to nine.
Speaker 1: Interest rates rise altso one. This week's US agenda data
Speaker 1: on consumer confidence and come and spending manufacturing in the
Speaker 1: final revision of third quarter GDP data. Bloomberg day break
Speaker 1: here if any thanks, so. Turning to oil now, we're
Speaker 1: seeing swings between gains and losses this morning. Crude rose
Speaker 1: at the week's open following a plant from China to
Speaker 1: revive consumption. There's also news of a plan from the
Speaker 1: Biden administration to begin refilling the nation's strategic reserves and
Speaker 1: checking prices Right now, nin max screwed oil is up
Speaker 1: half percent or thirty seven cents at seventy four dollars
Speaker 1: sixty six cents of barrel brent is at seventy nine
Speaker 1: dollars fifty nine cents. Straight ahead, we have your latest
Speaker 1: local headlines plus the check of sports, and this is Bloomberg.
Speaker 1: Thanks Staring at six o seven on wall strees in
Speaker 1: New York. Good christ Today. They will be mostly sunny
Speaker 1: with breezy, with the high only near forty. Agrees we'll
Speaker 1: get back down to the thirties tonight. Michael Bars here
Speaker 1: with Bara what you need to know New York and
Speaker 1: around the world. Good morning, Michael, Good morning Nathan. The
Speaker 1: Texas border town of El Paso has declared a state
Speaker 1: of emergency fearing an influx of migrants this week when
Speaker 1: a court order forces the Biden administration to lift Title
Speaker 1: forty two. The Trump error provision returned all asylum seekers
Speaker 1: back to Mexico, forcing them to wait there while their
Speaker 1: asylum requests are processed. Texas Governor Greg Abbott says there
Speaker 1: will be total chaos if Title forty two is lifted.
Speaker 1: Governor Rabbit accused President Biden of having open border policies
Speaker 1: that malicious actors are taking advantage of. It is known
Speaker 1: by the cartels, who have sophisticate information. Whether or not
Speaker 1: the bidenministration is going to enforce the immigration laws or
Speaker 1: not is known across the world, but most importantly known
Speaker 1: among the cartels. Meanwhile, Democratic Senator Alex Padilla of California
Speaker 1: pushed back against what he called Republican rhetoric. We're what
Speaker 1: much different place when it comes to COVID today than
Speaker 1: we were to almost three years ago. So it's pastime
Speaker 1: for a Title forty two to be gun. Senator Badilla
Speaker 1: and Governor Abbott spoke on a d C S this week,
Speaker 1: which can be heard Sundays on Bloomberg. Border. State leaders
Speaker 1: aren't the only lawmakers sounding the alarm about the expiration
Speaker 1: of Title forty two. In New York City, more buses
Speaker 1: transporting asylum seekers are expected to arrive today. Neyor Adams
Speaker 1: is asking for a new round of federal and state help.
Speaker 1: Dozens of people were injured after a flight headed for
Speaker 1: Hawaii hit severe turbulence. Like thirty five from Phoenix to
Speaker 1: Honolulu was thirty minutes outside of its destination when the
Speaker 1: incident happened. The plane was carrying two eight passengers and crew.
Speaker 1: Sunday was the first night of Hanaka, the Jewish communities
Speaker 1: across the US are celebrating. In Washington, d C. The
Speaker 1: lighting of the world's largest manua began. The first of
Speaker 1: eight candles was lit on the ellipse just across from
Speaker 1: the White House. Attorney General Merrick Garland. Last night was
Speaker 1: the principal government speaker. We must stand up against the
Speaker 1: disturbing rise in anti savagism. In Brooklyn, thousand attended one
Speaker 1: of the city's largest minorrehs to mark the season. Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quick Take, powered by more than twenty seven hundred
Speaker 1: journalists analysts more than a hundred twenty countries. Michael Barr
Speaker 1: and this is Bloomberg, Nathan. Thanks Michael six o nine
Speaker 1: on Wall Street time for the Bloomberg Sports Update. Bronto
Speaker 1: you by tri Stay downy. Here's john Stown Shower. Okay,
Speaker 1: they have the Giants game in Washington, so big it
Speaker 1: was moved into prime time. Giants had lost their last
Speaker 1: eleven night games, and they came in winless in their
Speaker 1: last four, while the Commanders had only lost once in
Speaker 1: their last eight. They're the only team to have meeaten
Speaker 1: the Eagles with the Giants took the lad thanks to
Speaker 1: a rookie. It's the snap back to flow. He's on
Speaker 1: the pressure sack my Tibot of the Flaws, loose on
Speaker 1: the ground, scoop up in the end zone for a touchdown.
Speaker 1: Tibodeau with the at the fourth stuck and then the touchdown.
Speaker 1: He completes the w F. The Antibodaux all over the
Speaker 1: field all night and the Giants won twenty two twelve
Speaker 1: held on at the end. The Commanders thought they had
Speaker 1: a touchdown to get there within two, but it was
Speaker 1: notified by a penalty and the Giants now in much
Speaker 1: better shape to make the playoffs. The Jets are not
Speaker 1: costly twenty to seventeen home lost a red hot Detroit.
Speaker 1: Zach Wilson back is the starting QB for the injured
Speaker 1: Mike White, and Wilson played fairly well, but the Lions
Speaker 1: wanted on a late fifty one yard pass play on
Speaker 1: a fourth and one of Detroits one six of seven.
Speaker 1: Two of those wins have come at MetLife. Nicks Nets
Speaker 1: Rangers all one on the road could continue their winning
Speaker 1: streaks seven straight for the Knicks at Indiana finished on
Speaker 1: an eleven to two run beat the Pacers one O nine,
Speaker 1: one oh six. Jalen Brunson scored thirty and Detroit Kevin
Speaker 1: Durant scored forty three. He had twenty six and the
Speaker 1: third quarter the Nets one one and Brooklyn has won
Speaker 1: its last six seventh straight for the Rangers seven one
Speaker 1: at Chicago's seven different Ranger goal scores. The World Cup
Speaker 1: Final build as Leonel ssty versus Killian Umboppy. Together they
Speaker 1: put seven balls into the net, five on penalty kicks.
Speaker 1: Messy and Argentina beet France four to three. Some are
Speaker 1: calling it the most exciting soccer game ever. John Stashower,
Speaker 1: Bloomberg Sports NAO. Okay, John, thank you. The Bloomberg Sports
Speaker 1: Report was brought to you by Audie. Don't let someone
Speaker 1: else drive off in the Audi model you've always wanted.
Speaker 1: Visit your local tri state Audie dealer to get behind
Speaker 1: the wheel of yours today, or visit Outie Offers dot
Speaker 1: com for more information. SMP futures are higher by fourteen points,
Speaker 1: DAL futures up ninety six, dance deck futures on the
Speaker 1: rise by forty nine points ten, Your treasuries down ten
Speaker 1: thirty seconds deal three point five one percent yield on
Speaker 1: the two year just shy a four point one eight
Speaker 1: percent TESLA moving higher by four point seven percent on
Speaker 1: the possibility of Elon Musk stepping away. As CEO of
Speaker 1: Twitter Live from coast to coast from New York to
Speaker 1: San Francisco, Boston, to Washington, d C nationwide on Sirius
Speaker 1: Sam the Bloomberg business appened Bloomberg dot com. This is
Speaker 1: Bloomberg Daybreak. Good morning, I'm Nathan Hagar. Let's get back
Speaker 1: to our top story this morning. We're just a few
Speaker 1: minutes away from learning the results of a poll that
Speaker 1: could determine whether, if not Elon Musk steps aside as
Speaker 1: CEO of Twitter, what the users of the social media
Speaker 1: platform think he should do. Let's bring in Alex Web
Speaker 1: for more on this. Who's been following the Twitter Musk saga?
Speaker 1: Really from the get go? Or Bloomberg quick take correspondent
Speaker 1: before we get to what sparked this pole, Alex, I mean,
Speaker 1: what an incredible run of weeks of turbulence for Twitter
Speaker 1: and Elon Musk since the buyout. It certainly made our
Speaker 1: troves a little bit hard because then we step in
Speaker 1: and try to write something, make a video, report anything
Speaker 1: out all changes. Uh, it's you know, even just in
Speaker 1: the past twenty four hours, we've seen scisfic changes in
Speaker 1: the direction of travel, and of course the impact of
Speaker 1: that is that the brands who essentially pay the bills
Speaker 1: at Twitter because of there, who advertised on there they've
Speaker 1: pulled back a lot of their advertising and that's created
Speaker 1: cast flowers. Is that we don't quite a scale of it.
Speaker 1: We know we have to find one point two billion
Speaker 1: a year to repay the debt obligations. You then look
Speaker 1: at the kind of other operating expenses that Twitter has,
Speaker 1: you know, the kind of operating expensive three and a
Speaker 1: half billion a year. How easy is it to cover those?
Speaker 1: Clearly getting one imagined more difficult. Yeah, I mean that's
Speaker 1: a big part of this story, isn't it Just the
Speaker 1: fact that all the changes that Elon Musk has made
Speaker 1: since he took over really rubbed so many advertisers the
Speaker 1: wrong way. And now we got this report just this
Speaker 1: last week that Elon Musk was looking for more private
Speaker 1: investors to come in at the twenties share price that
Speaker 1: he bought the company for. How much behind the scenes
Speaker 1: pressure is there potentially for Elon us to follow through
Speaker 1: if the results of this poll come down with the
Speaker 1: majority in the yes side, that he actually goes ahead
Speaker 1: and does this and stuffs aside a CEO. So we
Speaker 1: haven't seen any reporting yet on what they're behind the
Speaker 1: scenes pressure might look like, but we can look at
Speaker 1: the things that we do know, namely that um, you know,
Speaker 1: last week Tesla had its worst week in two years.
Speaker 1: UM it lost six last week alone over the course
Speaker 1: of five days trading. UM the stock is now up
Speaker 1: on the prospect of Elon must stepping down at Twitter.
Speaker 1: We also know that he was out looking for additional
Speaker 1: investment in Twitter itself. It's not hard to imagine that,
Speaker 1: you know, maybe in some of those conversations people might
Speaker 1: be saying, well, maybe we will invest, but not necessarily
Speaker 1: with you as CEO. That's purely speculation, But you know,
Speaker 1: if you look at the timeline of events, it's not
Speaker 1: hard to imagine that something like that might have been feasible.
Speaker 1: What is this whole episode done for Elon Musk's position
Speaker 1: sc of his other companies? I mean, you look at
Speaker 1: Tesla shares right now, they're popping in the pre market
Speaker 1: on the idea that Elon Musk could step aside as
Speaker 1: CEO of Twitter and presumably focus more attention on Tesla.
Speaker 1: But has this whole episode sort of shaken confidence among
Speaker 1: Tesla investors and whether he should continue in leadership of
Speaker 1: that company. It's kind of hard to tell, because you know,
Speaker 1: ultimately is Tesla trading down because people are seeing aside
Speaker 1: of Elon they didn't know, Or is Tessla trading down
Speaker 1: because they're not getting as much eilon as they would like, Right,
Speaker 1: It's quite hard to tell what the what the truth
Speaker 1: is there. Ultimately, you know, Test has been trading in
Speaker 1: excess of thirty time, and in excess of thirty times
Speaker 1: it's forward earnings. The broader market trades at about twenty
Speaker 1: two times forward earnings. Car makers tend to trend attend
Speaker 1: to trade significantly below ten times forward earnings. So there's phaps,
Speaker 1: a little bit of correction bringing it back into the
Speaker 1: into the realms of the broader automotive industry, although so
Speaker 1: long way it's training a significant premium still to all
Speaker 1: of that. Um the idea that he might be stepping
Speaker 1: down from Twitter has clearly benefited Tesla stock in the
Speaker 1: pre market, as you say, which suggests perhaps that people
Speaker 1: want more Elon, they don't want less. The Tesla investors
Speaker 1: are invested in him just as much as they are
Speaker 1: in that company. Got about a minute left here before
Speaker 1: we uh find out just exactly what the results of
Speaker 1: this pole are If Musk does step down as the
Speaker 1: CEO of Twitter. Alex who fills the gap. I mean
Speaker 1: either half of the workforce has been fired or has
Speaker 1: decided to leave the company after all the Delon Musk
Speaker 1: has done. I mean that is the sort of forty
Speaker 1: four billions or a question, isn't it. Jack Dorsey is
Speaker 1: in the former CEO who had stepped down or to
Speaker 1: concentrate on on Block as it's now called. His payments
Speaker 1: company is perceived to be very close to Elon Um
Speaker 1: whether he would want to work for him different matter entirely.
Speaker 1: There are plenty of capable people out there, um, whether
Speaker 1: you know, questioned, playful people who want to work essentially
Speaker 1: for Elon Musk under these circumstances. Al Right, well, we do,
Speaker 1: as I say, expect the results of this poll to
Speaker 1: uh come down in just a couple of minutes here
Speaker 1: around six twenty Wall Street time. It was around that
Speaker 1: time yesterday that Elon Muska posted this poll on Twitter
Speaker 1: asking whether he should stay or go as CEO of Twitter. So,
Speaker 1: Alex hope you will stay with us for the next
Speaker 1: couple of minutes here as we find out exactly what
Speaker 1: the people say who used Twitter and took part in
Speaker 1: this poem, whether Elon Musk should step beside as CEO
Speaker 1: head of that. SMP futures are up thirteen points, Staff
Speaker 1: futures up eighty eight, Nasdaq futures of forty nine points.
Speaker 1: Tesla shares higher by four point six percent. Stay with us,
Speaker 1: you're listening to Bloomberg Daybreak