Speaker 1: Live from the Bloomberg Interactive Burgers Studios. This is Bloomberg
Speaker 1: day Break for Tuesday, July two. Coming up the shower.
Speaker 1: Apple joins the list of companies putting a lid on hiring.
Speaker 1: IBM shares drop on earnings. Netflix reports today. President Biden
Speaker 1: is said to be considering declaring a climate emergency, and
Speaker 1: gas press fall for a thirty five straight day, hitting
Speaker 1: a two month low, a massive thunderstorm and flooding rains
Speaker 1: rink havoc on parts of the city. I'm John Tucker.
Speaker 1: That's story straight ahead. I'm John stas Shaller and sports
Speaker 1: Peter Alonzo dethroned Juan Soto won the home run derby
Speaker 1: m l A where the All Star Game takes place tonight.
Speaker 1: That's all strain ahead on Bloomberg Daybreak on Bloomberg eleven three,
Speaker 1: on New York, Bloomberg one, Washington, d C, Bloomberg one
Speaker 1: oh six one, Boston, Bloomberg nine sixties and Francisco Syrius
Speaker 1: Exam one nineteen and around the world on Bloomberg Radio
Speaker 1: dot Com and via The Bloomberg Business. Good Morning, I'm
Speaker 1: Nathan Hagar, and I'm Karen Moscow and US stock in
Speaker 1: Next Future is on the rise this morning. We're coming
Speaker 1: up to six oh one on Wall Street, and we
Speaker 1: check the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg and SMP futures are up about twenties six
Speaker 1: points in Our futures up a hundred fifties seven and
Speaker 1: Nastack Future is up about seventy three. The ten year
Speaker 1: Treasury Little Change yield two point eight percent, and they
Speaker 1: yield on the two year three point one six percent,
Speaker 1: and NIMEX screwed Oil is down three tenths of a percent. Nathan, Karen,
Speaker 1: we begin with a growing number of companies clamping down
Speaker 1: on hiring. It's a trend showing up in firms from
Speaker 1: tech to banking. Let's get the latest live from Bloomberg's
Speaker 1: Rnda Young. Good morning, Rnita, Good morning, Nathan. Bloomberg. Sources
Speaker 1: say Apple is putting a lid on hiring to limit spending.
Speaker 1: Leaders have not adopted a company wide policy, but this
Speaker 1: more cautious approach mimics moves by Amazon and Microsoft, and
Speaker 1: it's more evidence that even Silica and Valley is worried
Speaker 1: about an impending recession. Now, Goldman Sachs also plans to
Speaker 1: slow hiring to reign in expenses. CFO Dennis Coleman says
Speaker 1: Goldman could also reduce the pace of replacing staff it
Speaker 1: loses because of attrition and will reinstate annual performance reviews.
Speaker 1: Live in New York, I'm rened a young Bloomberg daybreak.
Speaker 1: All right, we need to thank you. We're also seeing
Speaker 1: a tepid outlook from another big name and tag. Shares
Speaker 1: of IBM or down about five percent in early trading.
Speaker 1: The company has lowering forecast for free cash flow this
Speaker 1: year due to the impact of a strong dollar and
Speaker 1: the loss of business in Russia. Bloomberg's Charlie Pellett has
Speaker 1: more the revision overshadowed results the top analysts estimates, signaling
Speaker 1: the demand from mainframe computers, consulting, and cloud services remains
Speaker 1: strong amid concerns of a pullback in tech spending. IBM
Speaker 1: set of estimates free cash flow of ten billion dollars
Speaker 1: this year, at the low end of a previous range
Speaker 1: of ten to ten point five billion dollars. Chief financial
Speaker 1: Officer Jim Kavanaugh said the reduced range is not a
Speaker 1: result of a broader business slowdown. In New York. Charlie
Speaker 1: Pellett Bloomberg, pay break, all right, Charlie, thank you. Earnings
Speaker 1: continue to roll in with ten companies in the SMP
Speaker 1: reporting today. This afternoon, we hear from Netflix. Bloomberg's Tom
Speaker 1: Busby has a preview, well the keeper investors will be
Speaker 1: subscriber losses for the second quarter, which the streaming giant
Speaker 1: predicted good total two million in its previous earnings report
Speaker 1: in April, when it announced its first ever subscriber losses.
Speaker 1: Also have note whether the blowout success of the latest
Speaker 1: season of Stranger Things may have helped Netflix keep some subscribers,
Speaker 1: and it's new crackdown on password sharing now when effect
Speaker 1: in five Latin American markets. Bloomberg and Census calls for
Speaker 1: earnings per share of two dollars cents revenues of just
Speaker 1: over eight billion dollars. Tom Busby Bloomberg, daybreak, all right, Tom,
Speaker 1: thank you. None of the latest, and Twitter's legal dispute
Speaker 1: with Elon Musk. Twitter is dismissing Musk's complaints that he
Speaker 1: does not have enough information about space AM and robot accounts.
Speaker 1: The company calls it a relevant sideshow and wants a
Speaker 1: judge to hold a trial as soon as possible over
Speaker 1: Musk's cancelation of his forty four billion dollar takeover. Watching
Speaker 1: Bitcoin rise this morning, Karen, but it's off its highs
Speaker 1: for the day. In fact, earlier Bitcoin almost hit twenty
Speaker 1: three thousand. The cryptocurrency has struggled to escape a nineteen
Speaker 1: to twenty two thousand range as investors licked their wounds
Speaker 1: from the recent route. Martin Chavez from six Street Partner
Speaker 1: says the time has come to finally regulate the crypto market. Regrettably,
Speaker 1: we usually wait until some calamity before there is regulation,
Speaker 1: and the questions always with this calamity big enough or
Speaker 1: does there need to be another leg down before we
Speaker 1: have the appropriate regulation. Martin Chavez at six Street Partners
Speaker 1: made the comments in an interview on Bloomberg Television. We'll
Speaker 1: have more on the future of bitcoin throughout the day
Speaker 1: as the Bloomberg Crypto Summit gets underway in New York. Well.
Speaker 1: Turning to the global economy now, Nathan, pressure is building
Speaker 1: on the European Central Bank. Sources say the ECB may
Speaker 1: consider raising interest 's by more than expected this week
Speaker 1: because the worsening inflation backdrop. Sources sat the central Bank
Speaker 1: may raise rates by fifty basis points on Thursday. That's
Speaker 1: double the twenty five point Hi get outlined just last month.
Speaker 1: Well back here in the US, Karen prices the pump
Speaker 1: keep dropping. In fact, they've fallen for thirty five straight days,
Speaker 1: hitting a two month low. Triple A says the nationwide
Speaker 1: averages just below four fifty a gallon prices have fallen
Speaker 1: more than ten percent. S it's hitting a record last month.
Speaker 1: Climate Change and Focus at the White House Nathan President
Speaker 1: Biden is reportedly considering declaring a climate emergency as soon
Speaker 1: as this week. Details now from Bloomberg's Amy Morris from
Speaker 1: our ninety nine one newsroom in Washington. Senator Jeff Murkley
Speaker 1: of Oregon says climate legislation has no chance to get
Speaker 1: through Congress. Instead, he says the president should use the
Speaker 1: full powers of the executive branch to declare an emergency,
Speaker 1: which would give him the authority to redirect funds for
Speaker 1: clean energy projects or restrict offshore drilling, and could even
Speaker 1: curtail the transport of fossil fuels. And Now sources they're
Speaker 1: telling the Washington Post that Biden is expected to announce
Speaker 1: additional actions aimed at curbing emissions as soon as this
Speaker 1: week in Washington, I'm any Morris Bloomberg daybreak. All right, Amy,
Speaker 1: thank you. Let's turn to Capitol Hill now, where computer
Speaker 1: chips are in focus. The Senate wants to quickly pass
Speaker 1: fifty two billion dollars in grants and incentives for American
Speaker 1: semiconductor makers. Senate majority leader Chuck Schumer says Democrats and
Speaker 1: Republicans are hashing out the final details. The legislation is
Speaker 1: a scaled down version of a larger bill intended to
Speaker 1: make the US technology sector more competitive with China. Supply
Speaker 1: chain issues are also in focus this morning, Nathan Treasury
Speaker 1: Secretary Janet Yellen is calling on so called to trust
Speaker 1: in to US allies to help fix the supply chain
Speaker 1: seeing in South Korea. Yelling called on US partners to
Speaker 1: strength and trade relationships with what she calls friend shoring.
Speaker 1: Freensuring is about deepening relationships and diversifying our supply chains
Speaker 1: with a greater number of trusted trading partners. The purposes
Speaker 1: to lower risks for our economy, and there's tread race.
Speaker 1: Secretary Johnny Yellen singled out China as a country on
Speaker 1: which the US and others should be less reliant futures
Speaker 1: this morning on the rise, SMP futures up about thirty
Speaker 1: points down. Futures have a hundred eighty nine nsday futures
Speaker 1: up eight five Straight ahead, your latest local headlines, plus
Speaker 1: a check of sports. This is Bloomberg. Thanks Karen six
Speaker 1: O seven on Wall Street, seventy three degrees in Central Parks.
Speaker 1: We get ready for a heat wave and we're still
Speaker 1: dealing with an accident investigation on the westbound Belt Parkway.
Speaker 1: More coming up in traffic. First John Tucker with more
Speaker 1: on what's going on in New York and around the world.
Speaker 1: John may feel a powerful thunderstore I was swept over
Speaker 1: in New York City yesterday afternoon, swamping highways, flooding trade lines,
Speaker 1: casting the evening commune into sudden disarray. Heavy rains caused
Speaker 1: a massive sinkhole to open up in the Bronx and
Speaker 1: swallow a VAM. New York City is completed in the
Speaker 1: first phase of at one point four or five another
Speaker 1: project of fortifying a section of Lower manhapt along the
Speaker 1: East River that was devastated by Hurricane Sandy. The East
Speaker 1: Side Coastal Resiliency Project will elevate park land along the
Speaker 1: East River stretching two point four miles, and temperatures in
Speaker 1: the UK set to hit a record today at Bloomberg's
Speaker 1: Advance that joins US now from sweltering London. Good Morning John.
Speaker 1: Today is said to be the hottest day on record
Speaker 1: in the UK, with temperatures as high as one hundred
Speaker 1: and seven degrees fahrenheit's That follows the warmest nights on record,
Speaker 1: with temperatures no lower than seventy eight degrees in some places.
Speaker 1: Brutal conditions have already struck India, parts of the U
Speaker 1: S and Western Europe this year, but they are a
Speaker 1: particular challenge of places like Britain, which are not used
Speaker 1: to extremes of hot or cold. In London, I'm you
Speaker 1: in Potspin, Big Daybreak and the January six Committee will
Speaker 1: be extending its inquiry. That story this morning from Bloomberg's
Speaker 1: head Baxter Cherry. Bennie Thompson says information keeps coming in.
Speaker 1: He says it includes a secret service text. First, he
Speaker 1: says the committee will put out a scale back interim
Speaker 1: report in September, which is when it was scheduled to end.
Speaker 1: He says now he will not predict a date when
Speaker 1: the final report would be issued. The committee will hold
Speaker 1: another public hearing Thursday, and then Thompson says they will
Speaker 1: decide where to go from there. In San Francisco, I'm
Speaker 1: at Baxter Bloomberg Daybreak. It will take almost a lifetime
Speaker 1: seven decades for US colleges and universities to achieve racial
Speaker 1: parody among its freshman classes. That according to a new
Speaker 1: studied by McKenzie and Company, they analyze data for more
Speaker 1: than three thousand institutions with enrollment of about two point
Speaker 1: four million first time students, enrollment among black and Native
Speaker 1: American students actually declined in some cases. Global News twenty
Speaker 1: four hours a day on air in a Bloomberg Quick Take,
Speaker 1: power by more than journalists and analysts in more than
Speaker 1: one twenty countries. I'm John Tucker and this is Bloomberg. Nathan.
Speaker 1: Thank you, John six o nine on Wall Street time
Speaker 1: for the Bloomberg Sports Update, which on stas Thanks Nathan.
Speaker 1: It's ironic that Juan Soto won the home run derby
Speaker 1: in Los Angeles because he is very much in the news.
Speaker 1: The twenty three year old star of the Washington Nationals
Speaker 1: just rejected a contract offer of fifteen years and four
Speaker 1: hundred and forty million dollars in. The Nats, who had
Speaker 1: been saying they were not going to trade Soto, are
Speaker 1: now entertaining trade offers. The Mets and Yankees both believed
Speaker 1: to be interested Soto's under his current contract until after
Speaker 1: the fourth season. By winning the Derby, Soto earned a million.
Speaker 1: He beat Seattle's Julio Rodriguez in the final. He won
Speaker 1: a half million. As a rookie, he only makes seven
Speaker 1: hundred thousand from the Maritors. The one year old Rodriguez
Speaker 1: put on a show over the first two rounds with
Speaker 1: sixty three home run semifinal losers were the Mets Pete Alonso,
Speaker 1: the two time defending champ, and forty two year old
Speaker 1: Albert Pools, who was in the field in this the
Speaker 1: final season of his Hall of Fame career. Clayton Kershaw
Speaker 1: I headed the Cooperstown someday. Surprisingly, he's never four started
Speaker 1: an All Star Game. He'll be on the mound for
Speaker 1: the National League tonight in his home part. I really
Speaker 1: didn't think anything of it at the time. I was like, well, yeah,
Speaker 1: I'll be fun to do it or whatever. But um,
Speaker 1: now that it's finally here and I get to uh,
Speaker 1: start that game tomorrow night. It just uh, it means
Speaker 1: a lot, and it means lots of my family, and
Speaker 1: we're excited. Charlie's excited, My kiddos are excited. So we're
Speaker 1: gonna we're gonna have a good time tomorrow and hopefully
Speaker 1: I don't screw it up too bad. Speaking yesterday, Tampa Bay,
Speaker 1: Shane McClanahan starts for the a L. There are six
Speaker 1: Yankees on the a L roster. Aaron Judge and John
Speaker 1: Carlos Stanton will start in the outfield that mets. Jeff
Speaker 1: McNeil is the n L starting second basement soccer in Mexico,
Speaker 1: US over Canada one nothing the Clintsos spot in the Olympics.
Speaker 1: John Stashiaward Bloomberg Sports Nathan, Thank you John. Right now,
Speaker 1: SMP futures are up thirty points, STUFF futures up two
Speaker 1: D one, NASAC futures higher by eighty six points ten.
Speaker 1: Your treasury is a little changed right now. The yield
Speaker 1: two point nine eight percent yield on the two year
Speaker 1: three point one six percent. More to come, including on
Speaker 1: Apple's high rings. Slow down with Bloomberg Tech columnist Alex Wab,
Speaker 1: This is Bloomberg Bloomberg eleven three oh weather sunny and
Speaker 1: hot today, tomorrow and the next day. We're getting into
Speaker 1: a heat wave here with highs into the low to
Speaker 1: mid nineties right now seventy three and second part Markets
Speaker 1: headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, the Bloomberg Business app, and at Bloomberg
Speaker 1: Quick Take. This is a Bloomberg Business Flash and I'm
Speaker 1: Karen Moscow. Stocks are stabilizing as investors assess the outlook
Speaker 1: for global growth amid Europe's deepening energy crisis, hawkish central banks,
Speaker 1: and slumping earnings estimates that all are swalling against all
Speaker 1: the BITS group at ten piers. US stock index futures, meanwhile,
Speaker 1: are higher in the wake of another reversal for the
Speaker 1: SMP five hundred yesterday on Apple's plans to slow hiring.
Speaker 1: If you check the markets every fifth teen minutes throughout
Speaker 1: the trading day on Bloomberg Guess and p future is
Speaker 1: at thirty three points down. Futures have two hundred fourteen
Speaker 1: Nasdack features have ninety eight. The decks in Germany is
Speaker 1: it will change ten your treasury, that'll change yield two
Speaker 1: point nine eight percent. They yield on the two year
Speaker 1: three point one six percent. Nine x Screute oil is
Speaker 1: down a tenth of upper cent or twelve cents, and
Speaker 1: a hundred two dollars forty eight cents of barrel Comic
Speaker 1: School is up a tenth of upper cent or two dollars.
Speaker 1: At seventeen twelve, twenty announced the euro one point to
Speaker 1: five two against the dollar, British found one point two
Speaker 1: zero two one and the end month thirty seven point
Speaker 1: to five six Bitcoin is at one point eight percent
Speaker 1: at twenty one tho eight hundred seventy dollars. That's a
Speaker 1: Bloomberg business flush. Now here's John Tucker with more on
Speaker 1: moss going on around the world. John and Karen sent
Speaker 1: a Democrat searching the White House to the clear a
Speaker 1: climate emergency. The House committee investigating the January says attack
Speaker 1: on the Capitol, which had planned to finish its inquiry
Speaker 1: by September, will stead keep operating beyond that because more
Speaker 1: information keeps coming in at shun vowing to take a
Speaker 1: resolute and strong response to any Taiwan visit by House
Speaker 1: Speaker Nancy Pelosi. Sports the National superstar Juan Soto winning
Speaker 1: the home Run derby at the Baseball All Star Game.
Speaker 1: And we have global news twenty four hours a day
Speaker 1: on here. Get on Bloomberg Quick Say Power by more
Speaker 1: than seven hundred journalists and analysts and more than one
Speaker 1: hundred twenty countries. I'm John Tucker. This is Bloomberg. Nathan Alright, John,
Speaker 1: thank you to six nineteen on Wall Street Live from
Speaker 1: the Bloomberg Interactive Broker Studios. This is Bloomberg a daybreak.
Speaker 1: Let's get back to our top story this morning, the
Speaker 1: growing trend in the tech and financial sectors, with now
Speaker 1: Apple adding itself to it, slowing hiring and spending. Let's
Speaker 1: bring back Alex Web for more on this. Bloomberg Quick
Speaker 1: Take anchor tech columnist for Bloomberg Opinion, Alex. As you know,
Speaker 1: we saw tech stocks lead the declines yesterday on that
Speaker 1: news from Apple. What kind of slow down could we
Speaker 1: be looking at from the iphonemaker. Ultimately, this is the
Speaker 1: corollary of the inflationary environment that apples in the business
Speaker 1: of selling thousand dollars a pop electronic devices. As discretionary
Speaker 1: income gets increasingly squeezed, is easy to see how that
Speaker 1: might affect spending on Apple devices. Now we've seen the
Speaker 1: other tech companies cutting jobs, and that's largely been to
Speaker 1: do with the broader economic conditions, which mean that the
Speaker 1: first thing companies cut is their marketing spend. Apple is
Speaker 1: a little bit different. It is very much to do
Speaker 1: with direct consumer appetites for their products. Yeah, so this
Speaker 1: is a raising the question in the market once again
Speaker 1: about not just the inflationary pressures ALEX, but whether we
Speaker 1: could potentially be heading into a recession here if we
Speaker 1: do start to see more of those consumers who have
Speaker 1: come to rely on iPhones and other products from Apple
Speaker 1: not necessarily to upgrade as they're getting squeezed. Even further,
Speaker 1: we've seen over the past five six years a gradual
Speaker 1: all um increase in the amount of time that keep
Speaker 1: people keep their phones. Maybe five years ago it was
Speaker 1: only every sort of two years or so that people
Speaker 1: would upgrade to the to the latest hand set. That's
Speaker 1: now extended to three years, and the jet sensor, the
Speaker 1: general direction of travel is going further than that. Now.
Speaker 1: Apple has managed to diversify its revenue quite substantially into services,
Speaker 1: you know, things like Apple TV plus, Apple Music, Fitness
Speaker 1: plus all these things where it gets more dependable income
Speaker 1: over longer period of time, and the other huge benefit
Speaker 1: of that is it ties consumers more keenly to their
Speaker 1: Apple devices. So there is still expectation that people will upgrade.
Speaker 1: The risk of them churning into trading their iPhones for
Speaker 1: Android devices isn't necessarily any greater right now, but it's
Speaker 1: just generally that people maybe aren't going to be spending
Speaker 1: as much on electronic devices as a whole. So it's
Speaker 1: the thinking then that as Apple starts to think about
Speaker 1: what it's doing in terms of it's spending, that it's
Speaker 1: going to make another pivot one again from services or
Speaker 1: from goods to services as part of its overall strategy
Speaker 1: that has been going at at at a real clip anyway. Um,
Speaker 1: they it's they're trying. Several years ago the revenue came
Speaker 1: from the iPhone. Now it's less than six so they
Speaker 1: have succeeded in doing that quite well. The other point
Speaker 1: that you can make here is, look, they are not
Speaker 1: freezing all spending. They are slowing spending in some divisions
Speaker 1: and slowing headcount um slowing hiring in some divisions. And
Speaker 1: you could also look at it as a way of
Speaker 1: sometimes companies use um these sort of economic environments as
Speaker 1: a cover as an excuse, there's a reason to go. Actually,
Speaker 1: let's just rain things in a little bit. We've maybe
Speaker 1: got a little bit out of control over the past
Speaker 1: few years. I'm not saying that Apple has got out
Speaker 1: of control, but it is a good opportunity just to recalibrate, retrench,
Speaker 1: and not get the sort of massive blowback from your
Speaker 1: employees that might otherwise be the case. With this in
Speaker 1: the context alex of what we've seen from other companies
Speaker 1: as they've been announcing slow downs in hiring and spending
Speaker 1: as well, particularly Netflix, is that getting ready to report
Speaker 1: earnings after the closing bell today. When you think about
Speaker 1: any of these companies, you look at the lifetime value
Speaker 1: of your customers. And for Netflix, there had been an
Speaker 1: expectation in growing perception that it was really a utility
Speaker 1: that if anybody was interested in watching, you know, sort
Speaker 1: of televisual content, they would have Netflix and that was
Speaker 1: the base layer upon which you would then add other
Speaker 1: streaming services if you so desired. What we started to
Speaker 1: see is that's not necessarily the case. It is losing subscribers.
Speaker 1: Um is. The expectation is that it loses two million
Speaker 1: subscribers globally the only region which will add subscribers is Asia.
Speaker 1: The inference of that, which is that's about one percent
Speaker 1: of their total subscribe account. But the inference is then
Speaker 1: that like maybe Netflix is discretionary spending, it is not
Speaker 1: a utility. And so you know, there's a function of
Speaker 1: the greater competition in that space, but which in turn
Speaker 1: then means that Netflix is content. Perhaps isn't as appealing
Speaker 1: as people thought it was once. Yeah, interesting to think
Speaker 1: about the competition growing for Netflix, including from Apple TV
Speaker 1: Plus as they're dominating the news this morning with the
Speaker 1: reports of a hiring and spending slowdown over at Apple.
Speaker 1: Thanks for this, Alex, as always great having on with us.
Speaker 1: Alex web Bloomberg Opinion, tech columnist and anchor at Bloomberg
Speaker 1: Quick Take course. You can check Alex out anytime Bloomberg
Speaker 1: dot Com, Slash quick Take Right now, SMP futures up
Speaker 1: thirty two points down, futures up two hundred five NASDAC
Speaker 1: futures higher by ninety seven points. The tenure Treasury right
Speaker 1: now little changed for a yield of two point nine
Speaker 1: eight percent. Yield on the two year right now three
Speaker 1: point one six percent. NIMEX crude moving a bit lower
Speaker 1: down a half percent, or of fifty six cents to
Speaker 1: a hundred two dollars four cents a barrel. Just to
Speaker 1: add more on Apple's hiring and spending slow down and
Speaker 1: even higher interest rate hikes coming from the e c
Speaker 1: B this week. We'll tell you more about that as
Speaker 1: we get the five things you need to know to
Speaker 1: start or day. Just ahead on Bloomberg Daybreak Bloomberg eleven
Speaker 1: three oh weather sunny and hot, low nineties today, mid
Speaker 1: nineties tomorrow, mid nineties Thursday, with a chance for afternoon
Speaker 1: showers and storms by then. Right now seventy three in
Speaker 1: Central Park, broadcasting live from the Bloomberg Interactive Broker Studio
Speaker 1: in New York, Bloomberg E Living Freedom to Washington, d C,
Speaker 1: Bloomberg N one to Boston, Bloomberg one O six one
Speaker 1: to San Francisco, Bloomberg NOME sixty to the Country, Sirius
Speaker 1: XM Chado one nineteen and around the globe, the Bloomberg
Speaker 1: Business at and Bloomberg Radio dot Com. This is Bloomberg Daybreak.
Speaker 1: It's six thirty on Wall Street. Good morning. I'm Nathan
Speaker 1: Hagar and I'm Karen Moscow. We are just about three
Speaker 1: hours away from the open of US training time for
Speaker 1: the five things you need to notice. Start your day
Speaker 1: broth to you by Interactive broker Simple ib k are
Speaker 1: Global Trader app. Deposit in your local currency and trade
Speaker 1: stock in the US, Europe and Asia. Start your free
Speaker 1: trial at ibk r dot com slash Global Trader. First,
Speaker 1: you begin with the growing number of companies putting a
Speaker 1: clamp down on hiring. It's a trend of showing up
Speaker 1: in firms from tech to banking. They get the latest
Speaker 1: live from Bloomberg's Ranita Young, Good Morning Radia, Good Morning Karen.
Speaker 1: Apple is joining its fellow tech giants and putting a
Speaker 1: lid on hiring. Bloomberg sources say Apple wants to limit
Speaker 1: spending and job growth at some of its divisions, although
Speaker 1: leaders have not adopted a companywide policy. This more cautious
Speaker 1: approach mimics moves by Amazon and Microsoft. Meantime, Goldman Sex
Speaker 1: also plans to slow hiring to reign in expenses. CFO
Speaker 1: Dennis Coleman says Goldman could also produce or reduce the
Speaker 1: pace of replacing staff it loses because of attrition, and
Speaker 1: will reinstate annual performance reviews Live in New York. I'm
Speaker 1: Rennita Young Bloomber Daybreak. We need to thanks sticking with tech.
Speaker 1: The war of words continues between Twitter and Elon Musk.
Speaker 1: The company's calling Musk complaints about spam and robot accounts
Speaker 1: and irrelevant side show. Twitter wants a trial soon over
Speaker 1: must cancelation of his takeover Nathan and crypto markets. This morning,
Speaker 1: Bitcoin is continuing its rise, nearly touching twenty three thousand.
Speaker 1: Shila Warren, Crypto Innovation Council CEO, has more on the
Speaker 1: recent rally. You know that we're waiting for a calamity.
Speaker 1: I find that a bit dramatic. I mean, I think
Speaker 1: we've seen a number of cycles and waves in this industry.
Speaker 1: And I've been in this space for seven years now,
Speaker 1: and this is not the first time we've seen a
Speaker 1: big crash followed by a quick rally, and I think
Speaker 1: that we are starting to see a little bit of
Speaker 1: that rally starts to happen and marketsing were confidence in
Speaker 1: these alternative assets. Crypto Innovation Council CEO Shila Warren spoke
Speaker 1: to Emily Chang on Bloomberg Technology. Catch Emily's daily Bloomberg
Speaker 1: Tech podcast week nights wherever you get your podcast overseas, Karen,
Speaker 1: Treasury Secretary Janet Yellen's taking David Beijing, singling out China
Speaker 1: as a country on which the U S and others
Speaker 1: should be less reliant. We cannot allow countries like China
Speaker 1: to use their market position in key raw materials, technologies,
Speaker 1: or products to disrupt our economy or exercise unwanted geopolitical leverage.
Speaker 1: Speaking in South Korea, Treasury Secretary Yellen also called on
Speaker 1: trusted US allies to help fix supply chain issues and
Speaker 1: over in Europe, today, government bonds flipped to losses in
Speaker 1: response to headlines on the European Central Bank sources telling
Speaker 1: Bloomberg the ECB may now consider a half point rate
Speaker 1: hike this week. Johnson and Johnson lowering its forecast for
Speaker 1: the year. That just crossing the Bloomberg. It did beat
Speaker 1: analysts estimates for second quarter earnings and shares up one
Speaker 1: percent in early trading. This is Bloomberg, all right, Karen,
Speaker 1: thank you. Six thirty three on Wall Street, seventy three
Speaker 1: degrees in Central Park. Could see some lingering delays on
Speaker 1: the belt Park Bay, but they've cleared the accident investigation
Speaker 1: in Pennsylvania Avenue we'll tell you more in Traffic First.
Speaker 1: John Tucker has more on what's going on in New
Speaker 1: York and around the world. Good morning, John, and good
Speaker 1: morning Nathan. Senate Democrats are urging the White House to
Speaker 1: to clear a climate emergency. Such a move would get
Speaker 1: President Biden broad to get authority to redirect fonds for
Speaker 1: clean energy projects a restrict offshore oil drilling. It comes
Speaker 1: as Democrats dismiss any optimism that a climate change package
Speaker 1: could be moved swiftly through Congress come September. A funding
Speaker 1: agreement's been a reach for the multi billion dollar redevelopment
Speaker 1: of New York's Aging Pan Station. That story from Bloomberg's
Speaker 1: Jeff Bellinger. It is the country's busiest rail hub and
Speaker 1: in dire need of renovation. The plan would create new
Speaker 1: commercial and residential buildings around the station, with those buildings
Speaker 1: developers getting to make payments in lieu of taxes for
Speaker 1: a period of forty to forty five years. The amount
Speaker 1: collected in excess of existing property taxes would be applied
Speaker 1: to the project. The plan calls for a large, single
Speaker 1: level train hall with higher ceilings and a four hundred
Speaker 1: fifty foot long skylight to replace the current cramped, windowless interior.
Speaker 1: Jeff Bellinger, Bloomberg, Neigbring How Speaker Nancy Pelosi plans to
Speaker 1: make a landmark visits to Taiwan next month. That story
Speaker 1: in this report from Bloomberg's Amy Moore is The Financial
Speaker 1: Times reports Pelosi will lead a delegation to Taipei in August.
Speaker 1: It comes despite Chinese warnings that the trip could escalate
Speaker 1: tensions between Washington and Beijing. At the same time, there
Speaker 1: are talks by top aids to President Biden and Chinese
Speaker 1: counterpart Sheejinping in preparation for a possible conversation between the
Speaker 1: two leaders. China has ramped up military activity around Taiwan
Speaker 1: to signal its displeasure with past high profile visits. No
Speaker 1: sitting US speaker has visited Taiwan since Newt Gingrich traveled
Speaker 1: to the island, and in Washington. I'm anymore as Bloomberg Daybreak,
Speaker 1: Global News twenty four hours a day on raighthand on
Speaker 1: Bloomberg Quick Take or Power by more than twenty seven
Speaker 1: hundred journalists and analysts and more than one twenty countries.
Speaker 1: I'm John Tucker, and this is Bloomberg. Nathan all Right,
Speaker 1: John thanks a lot. It is five on Wall Street.
Speaker 1: Time to check the Bloomberg Sports Update with John stash Our.
Speaker 1: All right, Nathan. The Baseball All Star Game tonight, Dodgers
Speaker 1: stayed in where they had the home run derby last night.
Speaker 1: Seven guys in their twenties plus forty two year old
Speaker 1: Albert Pooles, who was in the final season of his career.
Speaker 1: He upset the top seed Kyle Schwarber in overtime, but
Speaker 1: then lost a Juan Soto, who then knocked off Seattle
Speaker 1: rookie Julio Rodriguez in the final. Rodriguez literally half who
Speaker 1: holds his age. He was amazing over the first two rounds,
Speaker 1: belting out thirty two and thirty one homers. He ded
Speaker 1: throned the Mets Pete Alonso in the semis Alonzo denied
Speaker 1: a home on derby three pet that twenty three year
Speaker 1: old Soto wins a million dollars just after he rejected
Speaker 1: a contract offer from Washington for four hundred and forty
Speaker 1: million over fifteen years. ESPN reported last night the Nationals
Speaker 1: are now expected to trade Soto before the upcoming deadline.
Speaker 1: The Mets and Yankees both interested. Three Mats six Yankees
Speaker 1: on the All Star rosters for tonight, Aaron Judge got
Speaker 1: the most votes of anyone. That's a pretty big honor.
Speaker 1: Chose it. You know a lot of fans support too,
Speaker 1: and um, yeah, I wouldn't. I wouldn't be here without
Speaker 1: their cons of support, you know, motivating me to go
Speaker 1: out there and do my best. You know, they're They're
Speaker 1: who I played for. You know, it's the fans, you know, always,
Speaker 1: you know, I want to go out there and um,
Speaker 1: you know, leader all on the field for them, so
Speaker 1: you know, and that's not free. Special honors Danny Pitchers tonight,
Speaker 1: Tampa Bay, Shane McClanahan and the American League. Clayton kersh
Speaker 1: Off of the NL in his home park. Mark McGuire's son,
Speaker 1: drafted in the eighth round by the Phillies. He's a
Speaker 1: high school pitcher in California, may instead go to college.
Speaker 1: Talks broke down. There will not be a merger between
Speaker 1: the Big twelve and Pack twelve conferences. Tom Stash, We're
Speaker 1: Bloomberg Sports, Nathan Okay, John, thank you. Six thirty seven
Speaker 1: on Wall Street time down to take a look at
Speaker 1: stock some of the names moving in the pre market
Speaker 1: for that returned to Bloomberg Radio on TV. Markets correspondent
Speaker 1: Crety Gupta create Karen just mentioned the earnings from Johnson
Speaker 1: and Johnson crossing the Bloomberg terminal moments and go. Very
Speaker 1: interesting investor reaction to them. Very interesting investor reaction. The
Speaker 1: shares are up about one percent in the pre market.
Speaker 1: J and J is your taker. But check out what's
Speaker 1: actually underneath the hood here, pretty solid growths. Total sales
Speaker 1: growth about three percent, operational growth about eight percent, and
Speaker 1: if you even adjust that, it goes up to eight
Speaker 1: point one percent. So a lot of good news there.
Speaker 1: Medical devices worldwide sales grew three point four percent, pharmaceuticals
Speaker 1: to up twelve point four percent. Basically across all of
Speaker 1: their kind of growth platforms, you are seeing um an
Speaker 1: increase in their sales. Here's what you're not seeing confidence
Speaker 1: that this is going to continue, the idea that by
Speaker 1: the end of the year you're going to see the
Speaker 1: same kind of momentum. So in fact, they actually trimmed
Speaker 1: their full year Outlook, I'm not actually citing some of
Speaker 1: those dollar pressures. Remember a lot of these sales are
Speaker 1: counted as worldwide sales, it's not just here in the
Speaker 1: United States. So I think it's interesting Nathan that here
Speaker 1: we are talking about Johnson and Johnson alongside the likes
Speaker 1: of Microsoft, Nike McDonald's about the pressures that you're seeing
Speaker 1: with the dollar in particular, and they just cided that
Speaker 1: it's one of the reasons they trim their outlook. Yeah,
Speaker 1: very interesting to see that as well. And we've got
Speaker 1: a lot of tech headlines crossing this morning. We've been talking,
Speaker 1: of course about the Apple story, but it looks like
Speaker 1: China's probe to uh, their answer to Uber maybe coming
Speaker 1: to a big close here. It is coming to a
Speaker 1: big close. And this is interesting the Wall Street Journal
Speaker 1: reporting here that d d is going to get fined.
Speaker 1: I believe it's one billion dollars. Uh. This is huge
Speaker 1: as we of course, we know that for a very
Speaker 1: long time we were seeing a lot of scrutiny for
Speaker 1: Chinese tech in particular, but it was there was kind
Speaker 1: of this relief built into the market, the idea that
Speaker 1: a lot of these Chinese A d R s and
Speaker 1: likes of j d Ali Baba for example, well they
Speaker 1: were all going to perhaps get a little bit of
Speaker 1: an easier um treatment for lack of a better term,
Speaker 1: from China. The idea here being that that regulatory scrutiny
Speaker 1: was driving so many foreign investors away from some of
Speaker 1: these companies. That seems to at least have gotten some
Speaker 1: investors back into Chinese a d R. So, for example,
Speaker 1: Ali Baba Shares b A B A that's actually up
Speaker 1: a five cents of one percent, but DD we know
Speaker 1: has already been delisted from the U S market. Nevertheless,
Speaker 1: watched the space because here's where you can perhaps see
Speaker 1: some read through into some of the other a d
Speaker 1: R s um just based off the idea that d
Speaker 1: D is find one billion dollars in our last thirty
Speaker 1: seconds or so. Here, how's Netflix doing ahead of earnings today? Oh,
Speaker 1: this is such a widely watched event, not just because
Speaker 1: Netflix is this major tech name, but also because this
Speaker 1: is kind of a proxy for what you're going to
Speaker 1: see with the broader economy. Are people going to continue
Speaker 1: to spend on those subscriptions. Well, it looks like there's
Speaker 1: a little bit of optimism baked into the market at
Speaker 1: the moment. N f l X is your taker up
Speaker 1: one and a half percent in the pre market. This
Speaker 1: is important as we talk about simply how much of
Speaker 1: their ad based businesses are really gonna start picking up.
Speaker 1: Remember this was one of the main sticking points that
Speaker 1: their last earnings call, that they are now going to
Speaker 1: pivot from having commercials into their business and ads, and
Speaker 1: that's how they're going to make up some of the
Speaker 1: revenue that they're getting or losing, i should say, from
Speaker 1: some of their content production. How they're going to do
Speaker 1: and how successful that strategy is we'll find out today. Yeah,
Speaker 1: it's going to be a very interesting call after the
Speaker 1: bell this afternoon. Bloomberg Radio on TV Markets correspondent creating
Speaker 1: cooped up with us as always in the pre market,
Speaker 1: looking at stocks as a whole. Future are surging right now.
Speaker 1: SMP futures up thirty six points, that's a gain of
Speaker 1: almost one percent. DAL future is up two and thirty two.
Speaker 1: NASTACK futures higher by a hundred fourteen points, that is
Speaker 1: a gain of about one percent. The tenure Treasury is
Speaker 1: now down one thirty second yield two point nine nine
Speaker 1: percent on the benchmark tenure Note this is Bloomberg Bloomberg
Speaker 1: eleven three oh weather tempt surging two will be in
Speaker 1: the low nineties today, mid nineties tomorrow and Thursday. Welcome
Speaker 1: to the heat wave right now seventy three in Central
Speaker 1: Park Markets. Headlines and breaking news twenty four hours a
Speaker 1: day at Bloomberg dot Com, the Bloomberg Business at and
Speaker 1: at Bloomberg Quick Tape, He's a Bloomberg Business lash and
Speaker 1: I'm Karen Moscow. Futures are on the rise this morning.
Speaker 1: We go to the First Word breaking news desk for
Speaker 1: today's morning call, and here's Big Bill Maloney. Bill, good morning,
Speaker 1: Good morning, Karen. That's right. US futures with a bid
Speaker 1: right now. It's deat features of two hundred twenty point,
Speaker 1: says he's game thirty five and nas like futures rise
Speaker 1: by a hundred and ten US ten year old at
Speaker 1: two point nine nine percent, Gold is up five, oil
Speaker 1: is in the red, and Bitcoin is higher by one
Speaker 1: point seven. Shanghai was a little changed overnight, while up
Speaker 1: and markets are posting modest games this morning. And back
Speaker 1: in the US on the Economic Funday thirty housing starts
Speaker 1: after the LS night. IBM cut its annual forecast for
Speaker 1: free cash flow due to the strong dollar and regarding
Speaker 1: earnings this morning, and J and J Lord its guidance
Speaker 1: due to the dollar's strength. In other news, Bank of
Speaker 1: American's Global Fund Manager survey shows that investors are in
Speaker 1: full capitulation and wrapping things up. X on Mobile was
Speaker 1: raised to overweight O. Brad Piper Live from the First
Speaker 1: Breaking News Desk on Bill Maloney. Karen, all right, Bill,
Speaker 1: thank you, and here like breaking news over your Bloomberg
Speaker 1: type squawk on your terminal squ a w K and
Speaker 1: that's a Bloomberg business flash. Now here's John Tucker with
Speaker 1: more on what's going on around We're all John, Good morning, Karen.
Speaker 1: Senate Democrats urging the White House to declare a climate emergency,
Speaker 1: such a move who would give the president broad executive
Speaker 1: authority to redirect funds for clean energy projects, and the
Speaker 1: House Committee investigating the January sist attack on the U.
Speaker 1: S Capitol, which had planned to finish its inquiry by September,
Speaker 1: will instead keep operating beyond that date. And China vowing
Speaker 1: to take a resolute and strong response to any time
Speaker 1: on visit by US House Speaker Nancy Pelosi. Sports the
Speaker 1: Washington National Superstar Jun Solo winning the home run derby
Speaker 1: the Major League Baseball All Star Game. Global News twenty
Speaker 1: four hours a day on air, yet on Bloomberg Quick
Speaker 1: Take powered by more than twenty seven hundred journalists and
Speaker 1: analysts in more than one twenty countries. I'm John Tucker,
Speaker 1: and this is Bloomberg. Karen, all right, John, thank you,
Speaker 1: and it's sixty nine on Wall Street. Returned to news
Speaker 1: and science and technology Now with the Bloomberg and J I. T.
Speaker 1: Stammerport brought to you buy New Jersey Institute of Technology,
Speaker 1: a ranked top fifty national public university by US News
Speaker 1: and World Report and number fourteen in the nation on
Speaker 1: Money's Best Colleges List. Learn more at n J I
Speaker 1: T DOT E d U and now Here's just making
Speaker 1: news and science, technology, engineering and math. In China, the
Speaker 1: number of new cases of coronavirus increased. Nearly seven hundred
Speaker 1: infections are reported Monday, the highest number in almost two months.
Speaker 1: More infections, straight, more infectious strains of the virus are
Speaker 1: testing China's hardline approach as outbreaks spread beyond major cities.
Speaker 1: A drive in the Senate to quickly pass fifty two
Speaker 1: billion dollars in grants and incentives for American semiconductor makers
Speaker 1: has picked up steam in Congress. Senate majority leader Chuck
Speaker 1: Schumer says the Democrats and Republicans are hashing out the
Speaker 1: final details. The legislation is a scale down version of
Speaker 1: a larger bill intended to make the US more competitive
Speaker 1: with China in technology, and the Pentagon says the US
Speaker 1: will spend one point three billion dollars to develop advanced
Speaker 1: satellites that will be able to better track hypersonic missile threats.
Speaker 1: Hyper Sonic weapons are defined as anything traveling beyond mac
Speaker 1: five or five times faster than the speed of sound.
Speaker 1: That's about thirty eight hundred miles per hour. And as
Speaker 1: a Bloomberg and j I t Stem report, Nathan Okay, Karen,
Speaker 1: thank you. We're live from the Bloomberg Interactive Broker Studios
Speaker 1: or at six fifty on Wall Street Time Now to
Speaker 1: check what's going on in d C. Some of the
Speaker 1: top stories in our nation's capital include that Chip's bill
Speaker 1: picking up steam in the Senate, also making new Senate
Speaker 1: Democrats urging President Biden to declare a climate emergency, witnesses
Speaker 1: set for the next January six prime time hearing, and
Speaker 1: China warning of a grave impact if how Speaker Nancy
Speaker 1: Pelosi visits Taiwan. Let's bring in Bloomberg Government reporter Emily
Speaker 1: Wilkins for more on all these stories. Emily, good morning.
Speaker 1: Let's start with what we're hearing about, the idea that
Speaker 1: President Biden could think at least about declaring a climate emergency,
Speaker 1: even as we see this red headline cross the Bloomberg
Speaker 1: Terminal from the UK that the temperature there has hit
Speaker 1: its highest level on record. This is obviously not just
Speaker 1: a political issue. It's a real life issue. I mean, Nathan,
Speaker 1: I feel like headlines like this, they've just become so
Speaker 1: much more commonplace in recent years, hearing about these high temperatures,
Speaker 1: these big disasters, these reports from climate scientists saying that
Speaker 1: that time is running out and that urgent action is
Speaker 1: needed now. For a while, Democrats were staking their hopes
Speaker 1: on that reconciliation package they'd be able to pass hundreds
Speaker 1: of billions and tax credits for clean energy. But ever
Speaker 1: since Senator Joe Manson said that that can't be a
Speaker 1: part of the package for now until he sees inflation
Speaker 1: go down, Democrats have decided that their next strategy is
Speaker 1: going to be turning to President Biden and seeing if
Speaker 1: he can use his executive powers to declare a climate emergency. Now,
Speaker 1: remember presidents do have these emergency powers. We saw a
Speaker 1: former president Trump used them to sort of fund that
Speaker 1: border wall between the US and Mexico. The idea is
Speaker 1: that Trump sorry Biden rather could use a climate emergency
Speaker 1: to do things like restrict off short drilling, redirect funding
Speaker 1: for clean energy product and wholt crude oil exports. Now,
Speaker 1: the White House has said that they're still looking at
Speaker 1: this decision idea, that they haven't come to a decision
Speaker 1: yet and don't have any plans for an announcement at
Speaker 1: this time, but the Washington Post an announcement could come
Speaker 1: as soon as this week. Um. Democrats really don't have
Speaker 1: too many more options for what they can do from
Speaker 1: a legislative stance, and they think that they need to
Speaker 1: do something and do something big so that their supporters
Speaker 1: will realize how serious they are about addressing climate change
Speaker 1: and hoping that that will be reflected in the numbers
Speaker 1: that we see come out for the mid terms. Yeah,
Speaker 1: it's interesting, also, Emily, to see the President thinking about
Speaker 1: making a declaration like this when he's just come back
Speaker 1: from very hot Saudi Arabia looking for some concessions there
Speaker 1: on boosting fossil fuels. It's a really interesting dance that
Speaker 1: the President is trying to play here. Yeah, it just
Speaker 1: shows the fact that you've got multiple pressures on Biden
Speaker 1: right now that he's trying to live up to the
Speaker 1: campaign promises he made to address climate, that he's trying
Speaker 1: to address the long term issue of climate, but in
Speaker 1: the short term, you can't deny that many Americans are
Speaker 1: being hurt as a as a result of these high
Speaker 1: gas prices and the subsequent inflation for it. And so
Speaker 1: you're really kind of in this this situation where you
Speaker 1: have to try to vote be addressing both the short
Speaker 1: term and the long term at the same time. And
Speaker 1: that's really leading to some of these pressures that we're
Speaker 1: seeing on Biden and kind of this as you mentioned
Speaker 1: that this dance between today we're going to be focused on,
Speaker 1: you know, increasing oil production and today we're going to
Speaker 1: be focused on the environment and clean energy policies. Or
Speaker 1: there's a lot going on in DC. So let's get
Speaker 1: a progress report real quickly on the Chips bill in
Speaker 1: the Senate. Could that get passed this week? Um? So,
Speaker 1: there will be a procedural vote today and then there's
Speaker 1: another procedural vote later this week. We might be able
Speaker 1: to see things expedited, but I think at this point, UM,
Speaker 1: it's not quite clear it will either be this week
Speaker 1: or next week for passage, assuming of course that we
Speaker 1: do have the vote to go forward. That's looking good
Speaker 1: at this point. There's a lot of support for this
Speaker 1: bill on both sides of the aisle. Remember, they've parted
Speaker 1: way down from that initial bill that was focused on
Speaker 1: US manufacturing, research, development, and competitiveness against China. So right
Speaker 1: now you're just seeing a focus on this piece that
Speaker 1: has more than fifty billion dollars going towards semi conductors
Speaker 1: and producing those in the US. You've also seen House
Speaker 1: leadership say that they are ready to move that bill
Speaker 1: through the House as soon as it comes. And while
Speaker 1: there's certainly disappointment that there are many aspects not in
Speaker 1: that overall bill, UM, right now that the sense is
Speaker 1: that this is something that needs to happen quickly. Interesting
Speaker 1: to note, though, that you are seeing some opposition from
Speaker 1: the Wall Street journals up ed Board noting that you know,
Speaker 1: this industry is not where it was a year ago,
Speaker 1: that they have had time to double up on supply,
Speaker 1: that it's come closer to meeting demand, and they exactly
Speaker 1: suggested that this bill would basically amount to corporate welfare.
Speaker 1: UM so an interesting to see if that will wind
Speaker 1: up playing a role in this debate at all or
Speaker 1: keep some members from voting to support this. We also
Speaker 1: have a lot of developments with the House. January six,
Speaker 1: committee witnesses set for what may not be the final
Speaker 1: live hearing. Yeah. This is the thing mate, that I mean,
Speaker 1: they do these live hearings, they get a lot of attention,
Speaker 1: and then more people come forward, and you've seen this
Speaker 1: really impact the committee's schedule so far. And now they're
Speaker 1: even saying that their final report, which they we were
Speaker 1: expecting around September, could be even pushed back later than that.
Speaker 1: You've got this primetime hearing that's going to be coming
Speaker 1: up on Thursday. Bloomberg is gonna be covering it, so
Speaker 1: make sure you tune in. But we've got, uh, we
Speaker 1: now know at least two of the folks will will
Speaker 1: be hearing before the committee, Matt Pottinger, a former deputy
Speaker 1: National Security advisor, and Sarah Matthews, a deputy Press secretary.
Speaker 1: Both of them resigned from the White House after the
Speaker 1: assault on the Capitol, meaning that they could have really
Speaker 1: an inside luck at what was happening in the White
Speaker 1: House on January six, which is going to be the
Speaker 1: focus of the January sixty's next hearing. And finally, Emily,
Speaker 1: we're getting some response from China to a reported visit
Speaker 1: coming up from how Speaker Nancy Pelosi to Taiwan. Yeah,
Speaker 1: China is not particularly pleased about this. I mean, if
Speaker 1: you remember what happened a last time that Pelosi announced
Speaker 1: to trip back in April, you heard Chinese Foreign Minister
Speaker 1: Yang e Uh say that this was a malicious provocation
Speaker 1: into China's sovereignty, a gross interference inferience and international affairs. Um.
Speaker 1: This would be the first trip of a Speaker of
Speaker 1: the House to visit Uh Taiwan since a New Game
Speaker 1: Ridge win more than twenty five years ago. UM. And
Speaker 1: this is coming out a time where you have heard
Speaker 1: these discussions between Beijing and Washington. It seems to be
Speaker 1: building toward another call between President Biden and President she Um.
Speaker 1: But at this point it remains to be seen what
Speaker 1: if any impact a trip from Pelosi would have to
Speaker 1: the region and how China would respond. All right, thank
Speaker 1: you as always, Bloomberg Government reporter Emily Wilkins joining us
Speaker 1: from the nation's capital. Read more about these stories on
Speaker 1: Bloomberg dot com or on the Bloomberg terminal, and listen
Speaker 1: to Bloomberg Radio in Washington Bloomberg and one oh five
Speaker 1: point seven FM HD two where assembly mentioned. We will
Speaker 1: have coverage of the prime time hearing of the House
Speaker 1: January six Committee coming up Thursday evening eight pm Wall
Speaker 1: Street Time. Tune in live right here on Bloomberg Radio.
Speaker 1: Right now. SMP futures are up thirty two points, staff
Speaker 1: futures of two eight, NASTAC futures up a hundred four
Speaker 1: points ten Your treasury little change the yield two point
Speaker 1: nine eight percent yield on the two year three point
Speaker 1: one six percent. Bloomberg Surveillance is next to Tom Keene,
Speaker 1: Jonathan Farrell, and Kaylee Lines and Felisa Brahmowitz for Karen Moscow.
Speaker 1: I'm Nathan Hagar. This is Bloomberg