Speaker 1: Live from the Bloomberg Intact a Burger Studios. This is
Speaker 1: Bloomberg day Break for Thursday, June two. Coming up this hour.
Speaker 1: It is day two of congressional testimony for FED Chair J. Powell.
Speaker 1: Reaction pours into President Biden's proposed gas tax holiday. European
Speaker 1: Union leaders plan to grant candidate status to Ukraine, and
Speaker 1: the FED gets set to release the results of its
Speaker 1: bank stress tests. The Vivaldi School police chief has been
Speaker 1: placed on leave after last months smash shooting, plus prosecutors
Speaker 1: say Lane Maxwell to get thirty years in prison. On
Speaker 1: Michael blarn More, I'm John Stash and sports comeback, win
Speaker 1: for the Yankees, loss for the Medis in Colorado, be
Speaker 1: Tampa Bay, and overtime at this Family Cup final. That's
Speaker 1: all's training ahead on Bloomberg day Break on Bloomberg eleven,
Speaker 1: Free on New York, Bloomberg one, Washington, d C, Bloomberg
Speaker 1: one six one, Boston, Bloomberg nine sixties and Francisco syrius
Speaker 1: XM one nine team and around the world on Bloomberg
Speaker 1: Radio dot Com and via the Bloomberg Business App. Good morning,
Speaker 1: I'm Nathan Hagard and I'm Karen Moscow US DOT Index
Speaker 1: futures are higher this morning. We're coming up to six
Speaker 1: show one on Wall Street, and we check the markets
Speaker 1: every fifteen minutes throughout the trading day. On bloomberg S
Speaker 1: and P futures up about eleven points down, futures up nineteen,
Speaker 1: NASDAG futures up seventy three. The decks in Germany's down
Speaker 1: one percent, the ten year treasury up twelve thirty seconds,
Speaker 1: you know, three point one one per cent, and the
Speaker 1: yield on a two year is at three percent. Nathan Karen,
Speaker 1: we begin with day two of congressional testimony from J. Powell.
Speaker 1: This morning, the Fed chair appears before the House Financial
Speaker 1: Services Committee. Yesterday was Pell's most explicit acknowledgement yet that
Speaker 1: raising interest rates could lead to a recession. It's not
Speaker 1: our intended outcome at all, but it's certainly a possibility.
Speaker 1: And and frankly, the events of the last few months
Speaker 1: around the world have have have made it more difficult
Speaker 1: for us to achieve what we one, which is two
Speaker 1: percent inflation and still a strong labor market. Petal members
Speaker 1: of the Senate Banking Committee that the economy is still
Speaker 1: well positioned to handle tighter monetary policy. Former New York
Speaker 1: Fed President and current Bloomberg opinion columnist Bill Dudley says
Speaker 1: the recession is inevitable within the next twelve to eighteen months.
Speaker 1: I would expect a mild recession or two thousand and one,
Speaker 1: not the deep recession like seventies three, seventy four, or
Speaker 1: of course the Great Financial Crisis. Former New York Fed
Speaker 1: President Bill Dudley made the comments on Bloomberg Surveillance Catch
Speaker 1: the program weekdays at seven am Wall Street Time on
Speaker 1: Bloomberg Radio and television. Well Nathan Stocks gave up early
Speaker 1: gains on Powell's recession comments. Market veteran Abbey Joseph Cohen
Speaker 1: says the era of everything going up is now over.
Speaker 1: I think we're now back into a period in which
Speaker 1: it does matter where it's the fundamentals of earnings, the
Speaker 1: fundamentals of margins, the fundamentals of inflation, interest rates, and
Speaker 1: putting that altogether in terms of appropriate valuation models that
Speaker 1: will make a big difference for investors going forward. Joseph Cohen,
Speaker 1: who was a former senior investment strategistic Goldman Sachs, believes
Speaker 1: a mild recession is being priced into markets. Well. Crude
Speaker 1: oils taking a leg loger lower. Karen is concerned over
Speaker 1: a global economic slowdown intensifies, checking prices down dime excrudes
Speaker 1: down a dollar fifteen at a hundred five dollars four
Speaker 1: cents of barrel. President Biden is continuing his push to
Speaker 1: ease gas prices. Let's get the latest on that life
Speaker 1: from bloombergs Grenita Young, Good morning, Granita, Nathan, good morning.
Speaker 1: President Biden is running out of options to ease prices
Speaker 1: at the pump, and it is the latest action. He
Speaker 1: proposes a three month gas tax holiday. I suspending the
Speaker 1: eighteen sent gas tax federal gas tax in the next
Speaker 1: ninety days. We can bring down the price of gas
Speaker 1: and give families just a little bit of relief. It's
Speaker 1: a long shot for President Biden, as lawmakers, even his
Speaker 1: fellow Democrats quickly signaled they have little appetite for the move.
Speaker 1: Senate Majority Leader Chuck Schumer says Democrats and his chamber
Speaker 1: had already attempted a gas Texas pention it Republicans blocked it.
Speaker 1: Live in New York, I'm gonna need a Young Bloomberg
Speaker 1: day break. We need to thank you and like you say,
Speaker 1: a gas tax holiday is garnering little support. Bloomberg Politics
Speaker 1: contributor Genie she han Zeno says it flies in the
Speaker 1: face of the president's own energy policy. Many people, particularly
Speaker 1: on the left, are asking themselves, you know, essentially, who
Speaker 1: is Joe Biden. He could have used the challenge in
Speaker 1: Ukraine and the challenge with prices to push for renewables.
Speaker 1: You know, the old saying, don't let a good crisis
Speaker 1: go to waste. Why hasn't he pushed for something that
Speaker 1: people on the Democratic side believe in Bloomberg Politics, a contributor,
Speaker 1: Genie shehan Zeno spoke with our Washington corresponded Joe Matthew
Speaker 1: on Bloomberg Sound on Catch the show weekdays at five
Speaker 1: pm Eastern on Bloomberg Radio. Another major story we're following
Speaker 1: this morning from Washington. Karen has talked from both sides
Speaker 1: of the aisle that a gun safety bill could soon
Speaker 1: pass the Senate. Bloomberg said, Baxter has the story. Senate
Speaker 1: Minority Leader Mitch McConnell seems to be on board, but
Speaker 1: on mainly concerned about is dealing with the issues that
Speaker 1: have been brought to the fore by these mass shootings,
Speaker 1: which are directly related to school safety and mental Health,
Speaker 1: and Senate Majority leader Chuck Schumer says passage should be soon.
Speaker 1: The bill is real progress. It will save lives, and
Speaker 1: it is my intention to make sure the Senate passes
Speaker 1: this bill before the end of the week, and they
Speaker 1: hope to beat their summer recess. In San Francisco, I'm
Speaker 1: at Baxter Bloomberg, Gay Break and thank you. Turning overseas,
Speaker 1: European Union leaders planned to grant candidate status to Ukraine.
Speaker 1: The move will come at the EU summit that's beginning
Speaker 1: today in Brussels. Begin more from Bloomberg's Maria today. O
Speaker 1: Even though it is seen as a given and there's
Speaker 1: no surprise it will happen by tomorrow, Ukraine being granted
Speaker 1: this CARDUSI status it is pretty historic. The question is
Speaker 1: how much will it change for the country overnight. Probably
Speaker 1: not a lot. And we should also note that even
Speaker 1: if you're a country and you had given this panducy status,
Speaker 1: it doesn't mean the assess and talks are going to
Speaker 1: happen quickly or swiftly. You know, there's many countries in
Speaker 1: Europe that have applied for it, granted the Cavities WHO
Speaker 1: status and then of course, get stuck in the process
Speaker 1: for years before they get the membership and blowburgs Maria
Speaker 1: today O in Brussels, as Ukraine will be told it
Speaker 1: has to meet a set of conditions related to the
Speaker 1: rule of law, adjustice and anti corruption before joining the
Speaker 1: EU like here in the U. S care and the
Speaker 1: FED releases results from its yearly bank stress tests this afternoon,
Speaker 1: and we get more from Bloomberg's Tom Busby. All thirty
Speaker 1: four banks monitored by the Federal Reserve, which I have
Speaker 1: a hundred billion dollars in assets, are part of this
Speaker 1: year's stress tests to see if they can withstand a
Speaker 1: hypothetical economic downturn, a crash in the commercial real estate market,
Speaker 1: and a surge in unemployment. That number up from twenty
Speaker 1: three lenders last year after some larger regional banks like
Speaker 1: Fifth Third Bank Corp. And Ally Financial got to pass.
Speaker 1: The results will dictate how much capital those banks will
Speaker 1: need to have on hand and how much they can
Speaker 1: return to shareholders in the form of share buy backs
Speaker 1: and dividends. But they'll have to wait until day to
Speaker 1: announce any of those Tom Busby Bloomberg Daybreak. All right, Tom,
Speaker 1: thank you, and this update is brought to you by
Speaker 1: Informatica and the Cloud. Your data has the power to
Speaker 1: do the extraordinary. Managed data across any location in the
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Speaker 1: and this is Bloomberg. I Think You Caring is six
Speaker 1: o seven on Wall Street. We're sixty two degrees in
Speaker 1: Central Park dealing with an accident on the northbound FDR
Speaker 1: Drive at forty second. Details coming up in traffic. First
Speaker 1: Michael Barr with details on what's happening in New York
Speaker 1: and around the world. Good morning, Michael, Good morning Nathan.
Speaker 1: There have been reports of a widespread internet outage with Verizon.
Speaker 1: According to down detect, your user reports indicate problems at
Speaker 1: Verizon this morning. Details on the nature of the outage
Speaker 1: are limited, but some services returning. Pete Eronando, the chief
Speaker 1: of the School District Police Force in Uvalde, Texas, has
Speaker 1: been placed on the administrative leave for his response to
Speaker 1: last month smash shooting at rob Elementary School. A gunman
Speaker 1: killed nineteen students and two teachers in the attack as
Speaker 1: police officers stood by for more than an hour. Meanwhile,
Speaker 1: Democratic State Senator Roland Guterres says he filed a freedom
Speaker 1: of information request against the Texas Department of Public Safety,
Speaker 1: but as yet to hear back from the agency. We're
Speaker 1: frustrating because we're getting half truce and you winto a
Speaker 1: lot of finger pointing. Uh. And that's been the case
Speaker 1: in Stay one with DPS. Senator Guterrest spoke with k
Speaker 1: t r K. The January six Committee holds its fifth
Speaker 1: hearing today. The focus will be on the pressure former
Speaker 1: President Trump exerted on the Justice Department to overturn the
Speaker 1: presidential election results. Federal prosecutors say Gallene Maxwell, the British
Speaker 1: socialite who was convicted in engaging in a ten years
Speaker 1: sex trafficking scheme with former boyfriend Jeffrey Epstein, deserves to
Speaker 1: spend thirty years in prison. Maxwell will be sentenced on June.
Speaker 1: New Jersey Governor Phil Murphy says the state will suspend
Speaker 1: sales tax collections for ten days on back to school purchases,
Speaker 1: saving buyers about seventy five million dollars from pens and
Speaker 1: pencils and notebooks to art supplies, textbooks or other study guides,
Speaker 1: new laptop computers, among much more. Kevin and Murphy says
Speaker 1: the discount will be in effect from August to September five,
Speaker 1: New York City subway system writers will see something new.
Speaker 1: Authorities planned to place cameras on subway cars in an
Speaker 1: ever to increase safety. Train shooting in San Francisco has
Speaker 1: left a person dead and another injured. Authorities say they're
Speaker 1: still looking for a suspect behind the shooting near the
Speaker 1: city's Castro neighborhood. Officer Katherine Winters is with the San
Speaker 1: Francisco Police. We are working to gather information, which will
Speaker 1: include surveillance footage in any other footage front of any train.
Speaker 1: Officer Winters says that happened during the heart of Pride Week.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven
Speaker 1: hundred journalists and analysts more than a hundred twenty countries.
Speaker 1: Michael barn this is Bloomberg, Nathan, Thank you, Michael. Almost
Speaker 1: six ten on Wall Street time for the Bloomberg Sports
Speaker 1: Update with John Stead Show All right, Nathan, Yankees were
Speaker 1: looking at a rare two game losing streak. He sacked Paradis,
Speaker 1: who hit three home runs Tuesday hit another in the
Speaker 1: second in Tampa Bay led four to one. Back came
Speaker 1: the Yankees too on run for Aaron Judge now after
Speaker 1: and Jose Trevino wi yet another huge hit, game winning
Speaker 1: two run homer eight. Then in Yanks one five for
Speaker 1: their home Tonight for Houston, Astros just beat the Mets
Speaker 1: five three is your and Albarez homer twice. He's hit one.
Speaker 1: Carlos Carrasco roughed up left for the pari injury. Only
Speaker 1: a two game series, but the first time the Mets
Speaker 1: have been swept over time at the Stanley Cup Finals,
Speaker 1: quickly ahead, not to Catry inside the circle, Cadre, where's
Speaker 1: the book? How did that not go in? It? Did
Speaker 1: it did go in? It? Did it? Did we it? Scars?
Speaker 1: No the cadre get cad cad I didn't set but
Speaker 1: yes he he had to call Tampa Bay thought Colorado
Speaker 1: should have been called for a too many men on
Speaker 1: the ice penalty. But the Ads one three two and
Speaker 1: leave the series three one and they can win the
Speaker 1: Cup in Denver tomorrow night. NBA Draft takes place tonight.
Speaker 1: The Nets host the draft, but they don't have a pick.
Speaker 1: They could have used Philadelphia's first rounder, they elected to
Speaker 1: stave it until next year nixt to have the eleventh pick.
Speaker 1: There are reports they're trying to move up. Orlando has
Speaker 1: the first pick, expected to take Auburn's Jabari Smith. There's
Speaker 1: golf today near Hartford is the PG eight tour announcers
Speaker 1: changes that they claim they were gonna make anyway, but
Speaker 1: admit they may be moving them up due to the
Speaker 1: competition they're now facing from the new Live Tour, more
Speaker 1: prize money and several tournaments will no longer have the
Speaker 1: field be cut good way through John stash Award, Bloombird
Speaker 1: Sportsmath Loki John. Thank you Right now, SMP futures aren't
Speaker 1: moving higher. Seeing some gains in the pre market up
Speaker 1: fourteen points now, DAL futures have gone higher by forty
Speaker 1: eight points. In NASTACT futures, you're building on their gains
Speaker 1: up eighty five points. The tenure treasury is up ten
Speaker 1: thirty seconds, the yield three point one one per cent.
Speaker 1: This is Bloomberg. Bloomberg Day Break is brought to you
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Speaker 1: Markets headlines, and breaking news twenty four hours a day
Speaker 1: at Bloomberg dot Com, the Bloomberg Business Out and at
Speaker 1: Bloomberg Quick Tape. This is a Bloomberg Business Flash and
Speaker 1: I'm Karen Moscow. Bond yales are tumbling is comments by
Speaker 1: Federal Reserve Chair J Powell and growth data in Europe
Speaker 1: stoke fear about a global downturn. US dot index futures
Speaker 1: are gaining, bucking the retreat in European stocks and oil.
Speaker 1: They yield on German tenure bonds slumping as much as
Speaker 1: twenty one basis points points for the biggest two day
Speaker 1: to clients since November eleven. This after the report that
Speaker 1: show an economic activity in the euro Area. Sload sharply
Speaker 1: in June. US tenure rates are trading near a two
Speaker 1: week low, and looking at US dock index future is
Speaker 1: both contracts on the SNP and Nasdaq one hundred rising
Speaker 1: after racing earlier declines. We checked the markets every fifteen
Speaker 1: minutes throughout the trading day on Bloomberg. Right now, US
Speaker 1: and P futures are up thirteen points down futures have
Speaker 1: forty and as day futures have eighty one. The docks
Speaker 1: in Germany is down eight tenths of a percent ten
Speaker 1: your treasury up ten thirty seconds, you have three point
Speaker 1: one one percent. The yield on the two year is
Speaker 1: at three percent. Ni Max screwed oil down eight ten
Speaker 1: percent or eighty eight cents at a hundred five dollars.
Speaker 1: Thirty one cents of barrel Comacs gold is down four
Speaker 1: tens per cent or seven dollars forty cents at eighteen
Speaker 1: thirty one announced the euro one point oh five one
Speaker 1: five against the dollar, the British found one point to
Speaker 1: to one five and the end at one thirty five
Speaker 1: point three seven. Looking at Bitcoin this morning, up more
Speaker 1: than four percent at twenty thousand, seven hundred twenty dollars
Speaker 1: and of course at e thirty Wall Street time, we
Speaker 1: do get the weekly report on initial jobless claims. That's
Speaker 1: a bloomberg business flash. Now here's Michael Barr with more
Speaker 1: on what's going on around the world. Michael Karen, thank
Speaker 1: you very much. There have been reports of a widespread
Speaker 1: Internet outage with Verizon. That's according to down detective. The
Speaker 1: p g A tour is countering the Saudivag Live Golf Series.
Speaker 1: Tour Commissioner Jay Monahan unveiled his plan to increase purse
Speaker 1: sizes and revamped the schedule, and an effort to keep
Speaker 1: players from leaving the tour. In baseball, the Yankees one,
Speaker 1: the Mets lost, the Orio shutout, the National seven, ZIP,
Speaker 1: the Red Sox one, the Giant and as lost and
Speaker 1: HL action after Game four. The Avalanche are game away
Speaker 1: from winning the Stanley Cup. Colorado beat the Lightning and
Speaker 1: overtime three two. Global News twenty four hours a day
Speaker 1: on air rand on Bloomberg Quick Take, powered by more
Speaker 1: than twenty seven hundred journalists analyist in more than a
Speaker 1: hundred twenty countries. I'm Michael Barr. This is Bloomberg, Nathan.
Speaker 1: Thank you, Michael. We're count up to six twenty on
Speaker 1: Wall Street Life from the Bloomberg Contractive Brokers Studios. This
Speaker 1: is Bloomberg Daybreak and as we await day two of
Speaker 1: testimony on Capitol Hill from Federal Reserve Chairman Jerome Powell,
Speaker 1: we are joined this morning by Ben Laidler, global market
Speaker 1: strategist at each HORO for look at some of the
Speaker 1: market reaction. We certainly did see a lot of that yesterday, Ben,
Speaker 1: with Chairman Pal kind of taking investors on a bit
Speaker 1: of a ride with his comments about recession certainly a possibility.
Speaker 1: What kind of volatility are you looking for today? Yeah,
Speaker 1: I think it's a recognition of reality. Maybe not a
Speaker 1: big surprise. Recession risks, you know, clearly rising. I think J.
Speaker 1: Powe obviously alluded to that, um yesterday. But I think
Speaker 1: we've been seeing, you know, a little bit of room
Speaker 1: for relief. Right. It's been a very few it's been
Speaker 1: a very top few weeks. The markets pricing in a
Speaker 1: very aggressive FED evaluations are now below tenure averages, oil
Speaker 1: prices coming off a little bit, and earning still pretty solid, right.
Speaker 1: I mean that's the bull case, um, you know, the
Speaker 1: bad cases that we sort of tip into recession and
Speaker 1: the one shoe that hasn't dropped yet it begins to crack,
Speaker 1: which is earnings. There has been evaluation driven bear markets.
Speaker 1: So far, earnings have been very, very solid. I think
Speaker 1: earnings will remain resilient to a slowdown, but they're not
Speaker 1: immune to a recession. You've laid out the bullet bear
Speaker 1: cases there. What's your base case on where markets go
Speaker 1: from here? Ye? Gods are full? Uh, you know, I
Speaker 1: think we're in a sort of U shaped recovery. The
Speaker 1: key missing piece here is the sort of peak deciphed
Speaker 1: peak for inflation. That's what it's all about, um, that
Speaker 1: would allow central banks to loosen the vice that they
Speaker 1: have markets sort of in right now. I don't think
Speaker 1: we're too far away from that sort of peak of inflation.
Speaker 1: Financial conditions have surged, mortgage rate of surge, consumer confidence
Speaker 1: has plunged, and now I think we're getting a little
Speaker 1: bit of us a welcome pullback in oil prices. And
Speaker 1: as I say, it's all about inflation, I don't think
Speaker 1: we're too far away from that peak, and that is
Speaker 1: the catalyst the market. What do you think it's going
Speaker 1: to take for the chairman and central banks generally to
Speaker 1: get inflation down to target if we haven't gotten to
Speaker 1: peak inflation yet, As you say, it's the twenty plus
Speaker 1: trillion dollar question to the US economy. Central banks they're
Speaker 1: going to keep their foot to the floor on the
Speaker 1: on the interest rate accelerator until inflation does roll over.
Speaker 1: So that's the risk here. I think you know there
Speaker 1: are real buffers to a slow down. The consumers are
Speaker 1: in good place, companies are in good place, but those
Speaker 1: buffers are not insurmountable. The longer this goes on. There's
Speaker 1: a relative good news here. Inflation expectations are very well anchored.
Speaker 1: So inflation maybe eight percent in Europe in the US today,
Speaker 1: but those long term inflation expectations are you know, two
Speaker 1: to three percent um. You know, that's a really good
Speaker 1: news story. That means they don't necessarily need to, you know,
Speaker 1: see inflation all the way down to that sort of
Speaker 1: two percent level before they can sort of rein back.
Speaker 1: But we do need to see that sort of decisive peak.
Speaker 1: We thought we had it a couple of months ago.
Speaker 1: It was a it was a full stawn. But I
Speaker 1: think it's I think it's coming in the next couple
Speaker 1: of months. Oh well, well, you've see central banks trying
Speaker 1: to play catch up on inflation. Where do you see
Speaker 1: opportunity in terms of investments right now? So I think
Speaker 1: the key right now is to be invested. Ball markets
Speaker 1: are built on the shoulders of bear markets. You know,
Speaker 1: ball markets are three times longer and three times bigger
Speaker 1: than bear markets. I think you need to be invested
Speaker 1: for that. If you sort of sell out now, a
Speaker 1: lot of people won't get back in. There's always an excuse,
Speaker 1: always a reason not to invest. So I think you
Speaker 1: need to be invested, but I think you need to
Speaker 1: be reasonably reasonably defensive. These sort of cheaper sectors, these
Speaker 1: traditional defensive utilities, staples, healthcare, high dividend yields. Maybe some
Speaker 1: of these more defensive or less are correlated overseas markets,
Speaker 1: either UK or China. These are think other places you
Speaker 1: want to be in for now that keep you in markets,
Speaker 1: but a reasonably defense if for hopefully when we get
Speaker 1: that inflation, that inflation catalyst, and you can be comfortable
Speaker 1: to take a bit more risk. I think about thirty
Speaker 1: seconds left here, Ben, Are you looking for any different
Speaker 1: messaging from Chairman Power when he goes before the House
Speaker 1: Committee today? I hope not. He's been very consistent. I
Speaker 1: think that you know, the overwhelming focus is to bring
Speaker 1: inflation down. They will do what it takes. As they say,
Speaker 1: it's all about inflation. That's all about inflation. Therefore interest
Speaker 1: rates and that's what's been crushing. So evaluations is stoking
Speaker 1: and stoking recession fits here. So I think it's going
Speaker 1: to stay the course. But as I say, I don't
Speaker 1: think we're too far away from that dec inflation catalyst.
Speaker 1: Always good to get your thoughts spent. Thanks again for
Speaker 1: being with us this morning, Ben Laidler, Global Markets Strategists
Speaker 1: at the TOROL futures moving higher getting a lift this morning.
Speaker 1: Right now, at least SMP futures are up fifteen points down,
Speaker 1: Future is up fifty five, NASAC futures are higher by
Speaker 1: eighty five points, and the tenure treasuring now up eleven
Speaker 1: thirty seconds. The yield three point one one per cent.
Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather
Speaker 1: cloudy through the morning with a high in the low seventies. Today,
Speaker 1: will be in the low eighties tomorrow under a mix
Speaker 1: of sun and clouds. Warmer Saturday might see ninety Right
Speaker 1: now sixty two degrees broadcasting live from the Bloomberg Interactive
Speaker 1: Broker Studio in New York. Bloomberg E Living Freedom to Washington,
Speaker 1: d C, Bloomberg to Boston, Bloomberg one O six one
Speaker 1: to San Francisco, Bloomberg Knowing sixty to the Country, Sirius
Speaker 1: XM to A one nine team, and around the globe
Speaker 1: the Bloomberg Business apt and Bloomberg Radio dot Com. This
Speaker 1: is Bloomberg Daybreak six thirty on Wall Street. Good morning,
Speaker 1: I'm Nathan Hagar and I'm Kared Moscow. We are just
Speaker 1: about three hours away from the open of US trading
Speaker 1: time for the five things you need to Notice start
Speaker 1: your day to you by Interactive Brokers. Interactive Brokers Global
Speaker 1: Analysts helps you find new global investment opportunities to diversify
Speaker 1: your portfolio and discover undervalued companies that they have greater
Speaker 1: growth potential. Try IBKR Global Analysts today at ibkr dot
Speaker 1: com slash g a h first stay two of congressional
Speaker 1: testimony from J. Powell this morning, the FED chair appears
Speaker 1: before the House Financial Services Committee. Yesterday was his most
Speaker 1: explicit acknowledgement yet that raising interest rates could lead to
Speaker 1: our recession. You're seeing growth slow from the very elevated
Speaker 1: levels of last year associated with the reopening. You're seeing
Speaker 1: the beginnings of job growth slowing to more sustainable levels,
Speaker 1: and you know there's risk in that. FED. J. J.
Speaker 1: Powell told lawmakers the economy is strong and well positioned
Speaker 1: to handle tighter monetary policy. Markets gave up early gains
Speaker 1: on Powell's recession comments. Karen Janette Garrity, Chief Economists with
Speaker 1: Robertson Stephen says as recession talk grows, we could see
Speaker 1: inflation start to come down. I don't think it's firmly rooted,
Speaker 1: and there are an awful lot of people who are
Speaker 1: now eating to think about recession and in thinking about recession, actually,
Speaker 1: do you believe that that will take the pressure of prices?
Speaker 1: Jane Garty with Robertson Stephen says she believes j Pale's
Speaker 1: credibility is no longer an issue. Well, Nathan returned to
Speaker 1: oil now, which is lower once again as concerns over
Speaker 1: a global economic slowdown intensify. Meantime, President Biden is continuing
Speaker 1: his push to ease gas prices, and Bloomberg's Do Need
Speaker 1: a Young joins us Live with more. Good Morning, Ready
Speaker 1: Dunk Karen, Good morning. President Biden is running out of
Speaker 1: options to ease prices at the pump, and in his
Speaker 1: latest action, he proposes a three month gas tax holiday.
Speaker 1: Urgent gas stations to play their part. I call on
Speaker 1: the company's to pass this along every penny of this
Speaker 1: eighteenth cents reduction to the consumers. This is there's no
Speaker 1: time now for profiteering. It's alongside for President Biden as
Speaker 1: lawmakers on both sides of the aisle quickly signal they
Speaker 1: have little appetite for the move. Live in New York,
Speaker 1: I'm gonna need a young Bloomberg daybreak, all right, we
Speaker 1: need a thank you. Another major story we're watching in Washington,
Speaker 1: a gun safety bill could soon pass the Senate Majority
Speaker 1: leader Chuck Schumer is hoping for approval by the end
Speaker 1: of the week. And turning overseas Nathan, European Union leaders
Speaker 1: planned to grant candidates status to Ukraine. The move will
Speaker 1: come at the EU summit that's beginning today in Brussels.
Speaker 1: Ukraine will have to meet a set of conditions before
Speaker 1: joining the EU. And that's the five things you need
Speaker 1: to know to start here today. Brought to you by
Speaker 1: Interactive Brokers SMP futures up about seventeen points this morning.
Speaker 1: Straight ahead, your latest local headlines, plus a check of sports.
Speaker 1: And this is Bloomberg. Thank you. Karen sixe on Wall Street,
Speaker 1: sixty two degrees in Central Park. Big problems on the
Speaker 1: westbound Cross Bronx Expressway at the Hamilton Bridge. Two tractor
Speaker 1: trailers ran into each other. More coming up in traffic.
Speaker 1: First Michael bar with more on what's going on in
Speaker 1: New York and around the world. Good morning, Michael. Good morning, Nathan.
Speaker 1: There have been reports of a widespread internet outage with Verizon.
Speaker 1: According to down Detector, user reports indicate problems advertising this morning.
Speaker 1: The tails on the nature of the outage are limited,
Speaker 1: but there's words some customers are receiving service again. In Texas,
Speaker 1: the Uvoldi School District has placed police Chief Pete Rodondo
Speaker 1: on the administrative leave. A gunman killed nineteen students and
Speaker 1: two teachers as police officers stood by for more than
Speaker 1: an hour at rob Elementary School. Meanwhile, a state senator
Speaker 1: filed a lawsuit against the Texas Department of Public Safety
Speaker 1: to access records on the investigation into last month shooting.
Speaker 1: Democratic State Senator Roland Guterres. This was a failure at
Speaker 1: every level. Uh, not just the local cops, SHAREFF, the police, DPS.
Speaker 1: We all had people in there, Texas State Senator to terrorist,
Speaker 1: spoke to kat r k. The January six Committee will
Speaker 1: here today from former Justice Department officials. The panel says
Speaker 1: they faced a relentless pressure campaign from Donald Trump over
Speaker 1: the presidential election. Reason elates the f a A is
Speaker 1: investigating a helicopter crash in Logan County, West Virginia that
Speaker 1: killed six people last night, Logan Mayor Serafino Noletti heart ranching,
Speaker 1: why not we heard what happened? You know there's people,
Speaker 1: didn't they called? Maybe one of us was on. Mayor
Speaker 1: Noletti says the Hughey Chopper was based out of Logan
Speaker 1: County Airport and was apparently used for tourist flints. Federal
Speaker 1: prosecutors say Galine Maxwell, the British socialite convicted of engaging
Speaker 1: in a ten years sex trafficking scheme with former boyfriend
Speaker 1: Jeffrey Epstein, deserves to spend at least thirty years in prison.
Speaker 1: The government submitted its sentence and recommendation in federal cord
Speaker 1: in Manhattan. Maxwell, who was sixty, will be sentenced June.
Speaker 1: Governor Phil Murphy says New Jersey will suspend sales tax
Speaker 1: collections for about ten days on back to school purchases,
Speaker 1: saving buyers about seventy five million dollars. This back to
Speaker 1: school sales tax holiday will run from August until September five,
Speaker 1: and that will encompass to the final two weekends really
Speaker 1: before school kicks off. Conor Murphy says the discount will
Speaker 1: apply to basic goods as well as high a price items.
Speaker 1: Such as computers, Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quicktake Power by more than
Speaker 1: twenty seven hundred journalists analysts more than a hundred twenty countries.
Speaker 1: On Michael bar This is Bloomberg, Nathan, Thank you, Michael,
Speaker 1: six thirty six on Wall Street, and John stash Are
Speaker 1: has a Bloomberg Sports Update. Al and Nathan more surprising
Speaker 1: than Aaron Judge having hit twenties seven home run six
Speaker 1: more than anyone else in Baseball's the host st Travino's
Speaker 1: hit six only had five last season with Texas. Davino
Speaker 1: acquired just before the season began, as far exceeded any expectations,
Speaker 1: and he won the game for the Yankees for a
Speaker 1: two run homer in the eighth inning. On the night
Speaker 1: where Judge homer twice. The Yankees came from four one
Speaker 1: down and they beat Tampa Bay five to four. The
Speaker 1: Mets at the Houston Trail four nothing in the first inning,
Speaker 1: they lost five to three as to start a four
Speaker 1: game series with the Yanks tonight at the Stadium, perhaps
Speaker 1: the playoff preview. The Yanks the East by twelve games
Speaker 1: and the ask does leave the West by ten overtime
Speaker 1: and controversy at the Stanley Cup Final, where Tampa Based
Speaker 1: scored in the opening minute, never trailed Game four until
Speaker 1: Colorado's Ziame Cadre's goal twelve minutes into overtime, and the
Speaker 1: Lightning felt a too many men on the ice penalty
Speaker 1: should have been called, but the as one three too has.
Speaker 1: Cadre against the game winner at his first games was
Speaker 1: breaking his stumb a few weeks ago, and the Avs
Speaker 1: now lead this series three to one. They can win
Speaker 1: the Cup at home tomorrow. NBA draft tonight in Brooklyn, Orlando,
Speaker 1: as the first pick, the Knicks pick eleven. The Nets
Speaker 1: do not have any picks, and the commassion to Roger
Speaker 1: Gadell testified virtually before a congressional committee looking into workplace
Speaker 1: violations by the Washington Commanders. Cadell insisted owner Dan Snyder
Speaker 1: is not involved in running the team. He said he
Speaker 1: does not have the power to remove Snyder, who has
Speaker 1: refused to testify, but may not be subpoenaed. Tragic day
Speaker 1: for the Baltimore Ravens the death of linebacker jail And
Speaker 1: Ferguson at only twenty six. You've been on the team
Speaker 1: the last three year and the passing to former defensive
Speaker 1: lineman Tony Sara Goose. Goose was fifty five also played
Speaker 1: for the Colts. It was a long time Fox analyst
Speaker 1: John Dash were Bloomberg Sport. All right, John, thanks at
Speaker 1: six thirty seven on Wall Street. Let's take a look
Speaker 1: at some of the names moving in the pre market
Speaker 1: this morning with Bloomberg Radio and TV Markets correspondent Creating
Speaker 1: Goop Create. Good morning. I don't know if you saw
Speaker 1: those headlines that just crossed moments ago on Tesla and
Speaker 1: China production. Yeah, well we have to start what market check?
Speaker 1: Can we not start without Tesla shares? Ts does seem
Speaker 1: to be a trend? It is? It is scandals of
Speaker 1: Handya is a major heavyweight in the S and P five. Nevertheless,
Speaker 1: we are looking Tesla shares that are up about one
Speaker 1: point six percent in the pre market. At least is
Speaker 1: coming after Tesla said it's readying it's China factory. Forget this,
Speaker 1: even greater volumes those production line upgrades taking place starting
Speaker 1: from July. Now this is a massive deal. As we know.
Speaker 1: Of course, Tesla has been dealing a lot with the lockdown,
Speaker 1: specifically in their Shanghai factories. Now remember Shanghai also had
Speaker 1: great march for Tesla because their factory was very close
Speaker 1: to also where they got their raw materials and sourcing
Speaker 1: it from right around the world. They get the raw materials,
Speaker 1: they bring it right to the Shanghai factory and then
Speaker 1: created out of there. Because the COVID lockdowns of course,
Speaker 1: putting it dead in all of that, but this morning,
Speaker 1: perhaps Tesla seeing the early early signs of a little
Speaker 1: bit of a turnaround. We gotta talk about these oils
Speaker 1: stories as well when you're talking about turnaround, because a
Speaker 1: lot of the stocks moving this morning are indeed oil stocks.
Speaker 1: Of course, we know the Brent crew To at one
Speaker 1: eleven is down about I want to say, four tenths
Speaker 1: of one percent. But you are once again seeing that
Speaker 1: volatility and oil a lot of this balancing what's going
Speaker 1: on in the war in Ukraine as well as those
Speaker 1: recession fears. So it's really important to talk about simply
Speaker 1: some of these movers to the downside, especially things like
Speaker 1: um Conico, Phillips, Ceps your taker down about seven tenths
Speaker 1: of one percent. You also have x on Us about
Speaker 1: flat on the session now. But you are seeing that
Speaker 1: some of the decliners, some of the laggards are of
Speaker 1: course going to be in this oil space. Let's also
Speaker 1: stick with that recession story and talk about one of
Speaker 1: the other main movers remain concerns. It's more that, of
Speaker 1: course is kb Home As we talk about the housing crisis,
Speaker 1: is it a bubble? Well, Kaby Homes says, well maybe not.
Speaker 1: Kb eh is your taker up four point seven percent.
Speaker 1: This comes after they reported earnings and revenue that of
Speaker 1: course beat estimates. Also the warning about some of those
Speaker 1: macro economic issues. Yeah, lots going on in the macro story.
Speaker 1: What's going on with eBay? I see that on your
Speaker 1: list as well. Yeah, eBay's really interesting here because eBay,
Speaker 1: of course we knows the major e commerce company, but
Speaker 1: they didn't actually have coverage over at Morgan Stanley. That
Speaker 1: changes today e b A wise, your taker shares our
Speaker 1: down about two percent in the pre market. This comes
Speaker 1: after Morgan Stanley assumed coverage of the stock with the
Speaker 1: recommendation of underweight and price target of only thirty six dollars. Nathan,
Speaker 1: that is the lowest on Wall Street for the e
Speaker 1: commerce company. All right, Bloomberg Radio on TV markets correspondent
Speaker 1: critic Kupta with us as always in the pre market,
Speaker 1: looking at stocks as a whole. As we get set
Speaker 1: for another trading day and another round of testimony on
Speaker 1: Capitol Hill from FED Chairman Jerome Powell. We see futures
Speaker 1: getting the leg higher. SMP futures up twenty points right
Speaker 1: now down futures up a hundred one so were in anstack.
Speaker 1: Futures up hundred one p ten. Your treasury is up
Speaker 1: thirteen thirty seconds, the yield three point one zero percent.
Speaker 1: You're listening to Bloomberg Daybreak, Bloomberg eleven three oh weather.
Speaker 1: We have a mix of sun and clouds today going
Speaker 1: up to the low seventies, upper seventies, maybe a low
Speaker 1: eighties tomorrow, oper eighties by Saturday. Right now sixty two
Speaker 1: degrees in Central Park markets. Headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg
Speaker 1: Business at and at Bloomberg Quick Take. He's a Bloomberg
Speaker 1: Business Flash and I'm Karen Moscow and US dot Index
Speaker 1: futures are on the rise this morning, and we go
Speaker 1: to the first word Breaking newsdsh for today's morning call.
Speaker 1: Here's Tatiana Darya. Tatiana, good morning, Good morning, Karen, futures
Speaker 1: are higher this morning, despite the mixed session in Europe
Speaker 1: without futures up one twenty two, s and ps up
Speaker 1: twenty four and NAS jack cap one Cross Asset treasuries
Speaker 1: are rallying again, with the US tenure Yale down four
Speaker 1: basis points to three spot one percent, oils down another percent,
Speaker 1: and Bitcoin has raised yesterday's losses, rebounding about four On
Speaker 1: the economic front today, initial jobless claims at eight thirty,
Speaker 1: n p m ice at ninety. In early trading, we've
Speaker 1: seen text talks rebounding, with Tesla, Apple and Video leading
Speaker 1: gains up about one percent, Occidental Petroleum up to after
Speaker 1: it's the largest shareholder, Berkshire halfway both additional shares and
Speaker 1: regarding earnings. Homebuilder kV Home up five percent after results
Speaker 1: last night. In other news, Tesla plans to ramp up
Speaker 1: output at its factory in China to more than double
Speaker 1: its original planned target to one million cars are and
Speaker 1: wrapping things up. Coin Base was cut to neutral at
Speaker 1: the Red Burn, and eBay was initiated with an underweight
Speaker 1: at Morgan Stanley lie from the First and Breaking News
Speaker 1: Desk and Tatianataria Karen Right. Tatiana thank you, and to
Speaker 1: hear lie breaking news of your Bloomberg type squawk on
Speaker 1: your terminal SCU. You a w K and that's a
Speaker 1: Bloomberg business flash. Now here's Michael bar with Moore on
Speaker 1: what's going on around the world. Michael Karen, thank you
Speaker 1: very much. There have been reports of a widespread internet
Speaker 1: outage with Verizon. That's according to down detective. The January
Speaker 1: sixth Committee will hear from former Justice Department officials today
Speaker 1: the Panels as they face pressure from Donald Trump over
Speaker 1: the presidential election results. The p g A Tour plans
Speaker 1: to increase purse sizes and revamp the schedule in an
Speaker 1: effort to keep players from heading to the Saudi Mac
Speaker 1: Lib Golf Series. In baseball, the Yankees one, the Mets lost,
Speaker 1: the Oriole shut out the Nationals, the Red Sox one,
Speaker 1: the Giants and As lost. In the NHL, the Avalanche
Speaker 1: a game away from winning the Stanley Cup after beating
Speaker 1: the Lightning. The NBA Draft is tonight Global News twenty
Speaker 1: four hours a day only or and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven under journalist and analyists
Speaker 1: more than twenty countries. Michael Barr and this is Bloomberg.
Speaker 1: Carry all right, Michael barn Thank you. SIS forty nine
Speaker 1: on Wall Street returned to news and science and Technology Now.
Speaker 1: But the Bloomberg n j I T STEM Report, brought
Speaker 1: to you by New Jersey Institute of Technology, ranked a
Speaker 1: top fifty national public university by US News and World Report,
Speaker 1: in the top ten for best career placement among public
Speaker 1: schools by the Princeton Review. More at n j I
Speaker 1: T DOT E d U and here's just making news.
Speaker 1: In science, Technology, engineering, and math, new global data shows
Speaker 1: heat trapping carbon dioxide emissions from making cement have doubled
Speaker 1: in the last twenty years. According to Norway Center for
Speaker 1: International Climate Research and the Global Carbon Project, worldwide emissions
Speaker 1: from making cement for buildings, roads, and other infrastructure hit
Speaker 1: nearly two point nine billion tons of carbon dioxide last year.
Speaker 1: That's more than seven percent of the global carbon emissions.
Speaker 1: Scientists say climate change is a factor behind the erratic
Speaker 1: and early reigns that triggered unprecedented floods in Bangladesh and
Speaker 1: northeastern India. Although the region is no stranger to flooding,
Speaker 1: it typically takes place later in the year when monsoon
Speaker 1: reigns are well under way. This year's torrential rainfall lashed
Speaker 1: the area as early as March, and smart Asset is
Speaker 1: out with its eighth annual study on the best Cities
Speaker 1: for Women in Tech and ranked them according to four metrics,
Speaker 1: gender pay gap in the tech industry, income for women
Speaker 1: in tech, after deducting housing costs, women as a percentage
Speaker 1: of tech workers, and three year growth in tech employment. Arlington,
Speaker 1: Virginia remained at the top of the studies rankings for
Speaker 1: another year. Washington, d C was second, and Houston came
Speaker 1: in third. And as a Bloomberg and j I t
Speaker 1: Stem report, Dathan Okay, Karen, thank you. We are live
Speaker 1: from the Bloomberg Interactive Brokers studios, where it's six fifty
Speaker 1: one on Wall Street. Time to check what else is
Speaker 1: going on in d C. Some of the top stories
Speaker 1: in our nation's capital include President and offering a long
Speaker 1: shot bid to pause gas taxes, optimism building for a
Speaker 1: gun safety bill passing the Senate as soon as this week,
Speaker 1: and the January six Committee getting ready to pause hearings
Speaker 1: to weigh new evidence. Boomberg Government Congressional reporter Jack Fitzpatrick
Speaker 1: is back with us from more on all these stories. Jack,
Speaker 1: I wonder if it's been difficult to find anybody who's
Speaker 1: coming out in favor of President Biden's three month gas
Speaker 1: tax pause idea, because a lot of the reaction hasn't
Speaker 1: exactly been glowing. Yeah, I'm sure there will be some
Speaker 1: members who are in favor of it. I've seen a
Speaker 1: couple of statements, especially from people maybe with tough reelection campaigns.
Speaker 1: It's a good thing to be seen doing something. But
Speaker 1: we've heard negative or at least skeptical comments from the
Speaker 1: likes of Chuck Schumer, who has said he'd put his
Speaker 1: focus on price gouging measures. Uh Stenny Hoyer, who said
Speaker 1: he's not sure if this kind of proposal would have
Speaker 1: the intended effect. N See Pelosi essentially put out a
Speaker 1: statement saying, well, we'll see where the consensus is on
Speaker 1: this kind of issue. Peter DeFazio, the chair of the
Speaker 1: Transportation Infrastructure Committee, said that this would take funds away
Speaker 1: from the Highway Trust Fund. Uh. So there's there's some
Speaker 1: high level pushback from people who are allies of the president.
Speaker 1: Uh And so clearly the outlook is not good for
Speaker 1: this on Capitol Hill. Yeah, and there's been some commentary
Speaker 1: as well that the president calling for more oil production,
Speaker 1: more gas production, and efforts to get prices down kind
Speaker 1: of runs contrary to what his policies had been before
Speaker 1: prices got higher, aimed at curbing production. Yeah, this is
Speaker 1: this puts the President and Democrats in a really tough position. Uh.
Speaker 1: And you see it even with this gas tax proposal.
Speaker 1: I mean you're almost talking about a stimulus check that
Speaker 1: you can only use on fossil fuels. Uh. And that
Speaker 1: that manages to get opposition simultaneously from Republicans who who
Speaker 1: don't agree with this kind of short term approach that
Speaker 1: would add to the deficit, and environmental groups and Democrats.
Speaker 1: So it's it's massively inconvenient for Democrats, who came in
Speaker 1: with a certain set of environmental policy priorities, to feel
Speaker 1: this amount of pressure to reduce gas prices, which really
Speaker 1: would not have been as much of a priority, not
Speaker 1: if if not for you know what we've seen in
Speaker 1: Ukraine and the very strange economic circumstances that we all
Speaker 1: find ourselves in. You have to think Jack as well,
Speaker 1: that the President is feeling political pressure to at least
Speaker 1: show that he's trying to do something about gas prices.
Speaker 1: What about his message that the war in Ukraine is
Speaker 1: affecting all of this is that has that been a
Speaker 1: difficult message for him to get across. I think that
Speaker 1: may actually be the most popular response because there's a
Speaker 1: lot of willingness to support Ukraine. The President was pushed
Speaker 1: by lawmakers, including Republicans, to take a harder stance against
Speaker 1: importing Russian oil and gas. So there's some logic to it,
Speaker 1: and it ties it to a stance that the federal
Speaker 1: government is taking. It's very popular in supporting Ukraine, but
Speaker 1: that doesn't just flip a switch and make people say, Okay,
Speaker 1: I'm fine with very high gas prices in itlation in
Speaker 1: the state of the economy, So it's it may be
Speaker 1: a good line, but it's almost just a tangential issue
Speaker 1: to the broader complaints about the state of the economy.
Speaker 1: Let's start to the other major story happening in Washington,
Speaker 1: d C. Progress to report on a gun safety bill
Speaker 1: moving forward in the Senate. Could we see passage this week? Jack, Yes,
Speaker 1: They are supposed to take the cloture vote in the
Speaker 1: Senate today, probably between eleven am and noon. That's the
Speaker 1: key vote. If you can get sixty votes to end debate.
Speaker 1: You have cleared the major hurdle. Technically would then take
Speaker 1: a simple majority vote to pass it, but sometimes there's
Speaker 1: a little back and forth in the Senate about almost
Speaker 1: doing away with that step. Once they do the cloture
Speaker 1: vote in the late morning today, they know they've got
Speaker 1: the sixty votes necessary uh, and they can they can
Speaker 1: move on they potentially you see it unanimous consent or
Speaker 1: something along those lines. We'll see exactly how long it
Speaker 1: takes to to do this week as they try to
Speaker 1: get out for the weekend. But the critical vote is
Speaker 1: coming in a late morning this morning in the Senate.
Speaker 1: Also happening this afternoon, we have another live January sixth
Speaker 1: Committee hearing. What are we expecting there? That one is
Speaker 1: going to be focused more on more details, a little
Speaker 1: bit of what we've heard in terms of the legal
Speaker 1: advice that went to then President Trump saying that his
Speaker 1: attempts to overturn the election, that his fraud claims were
Speaker 1: without merit. There's gonna be live testimony from Jeffrey Rosen,
Speaker 1: who took over as acting Attorney General after William barr Uh.
Speaker 1: There's also testimony from two of his deputies uh so
Speaker 1: more of the legal arguments about the lack of merit
Speaker 1: to Trump's uh fraud arguments and the argument that Trump
Speaker 1: must have actually known that and ignored the good advice
Speaker 1: from lawyers and and gone on with his plan anyway.
Speaker 1: And in our last minute here, the hearings are going
Speaker 1: to go on a little bit longer than we'd originally expected. Yes,
Speaker 1: you know, they even mentioned in the first hearing they're
Speaker 1: still getting information. Uh So there's gonna be a bit
Speaker 1: of a pause in hearings as they continue to get
Speaker 1: more testimony, do more interviews. They're supposed to interview today
Speaker 1: another documentary filmmaker Alex Holder, who was interviewing Trump and
Speaker 1: others around him before and after January one. So you
Speaker 1: can certainly expect one a bit of a pause and
Speaker 1: then two more public hearings. And it is worth keeping
Speaker 1: in mind that is as tightly uh organized as these
Speaker 1: hearings have ben, there's still kind of figuring this out
Speaker 1: and determining exactly what their narrative is because they're still
Speaker 1: getting more and more information and still conducting interviews. Bloomberg
Speaker 1: Government congressional reporter Jack Fitzpatrick. Keeping on top of all
Speaker 1: that's happening in Washington, d C, including more testimony this
Speaker 1: morning from FED Chair Jerome Powell. He'll be before the
Speaker 1: House Financial Services Committee. That hearing is due to begin
Speaker 1: around ten am Wall Street Time. Read more about all
Speaker 1: these stories on Bloomberg dot com or on the Bloomberg terminal.
Speaker 1: Listen to Bloomberg Radio in Washington Bloomberg one and one
Speaker 1: oh five point seven f m HD two, SFP futures
Speaker 1: moving higher now up twenty eight points, Dow futures up
Speaker 1: a hundred forty seven, NASTAC futures up one point one percent,
Speaker 1: again of a hundred twenty seven points. For Karen Moscow.
Speaker 1: I'm Nathan Hagar. This is Bloomberg