1 00:00:01,680 --> 00:00:05,320 Speaker 1: Live from the Bloomberg Interactive Burger Studios is Bloomberg Day 2 00:00:05,440 --> 00:00:08,879 Speaker 1: Right for Thursday, September eight two. Coming up this hour, 3 00:00:09,200 --> 00:00:12,000 Speaker 1: market Space for a rate hike from the European Central 4 00:00:12,000 --> 00:00:14,960 Speaker 1: Bank and fresh remarks from J. Powell. The US holds 5 00:00:14,960 --> 00:00:17,680 Speaker 1: stocks with Asian nations in a move to counter China, 6 00:00:17,880 --> 00:00:21,240 Speaker 1: plus concerns over lockdowns in China and growing tensions with 7 00:00:21,400 --> 00:00:24,720 Speaker 1: Taiwan and Japanese officials meet to way what's next for 8 00:00:24,840 --> 00:00:27,720 Speaker 1: the yen. New York lifts the state mass man date 9 00:00:27,800 --> 00:00:31,040 Speaker 1: for public transit and yellow calms in the city appear 10 00:00:31,160 --> 00:00:34,720 Speaker 1: on the Uber Ramp. I'm John Tucker, Those stories straight ahead. 11 00:00:35,080 --> 00:00:37,400 Speaker 1: I'm John Stashour and sports the Mets and Yankees with 12 00:00:37,479 --> 00:00:40,760 Speaker 1: doubleheaders swaves another late night at the US Open. They're 13 00:00:40,800 --> 00:00:45,720 Speaker 1: down to the final four. That's all trendy ahead on 14 00:00:45,840 --> 00:00:49,200 Speaker 1: Bloomberg Day Break on Bloomberg Eliving Free on New York, 15 00:00:49,400 --> 00:00:54,080 Speaker 1: Bloomberg one, Washington, d C, Bloomberg one, THO six one, Boston, 16 00:00:54,360 --> 00:00:58,520 Speaker 1: Bloomberg nine sixties and Francisco syrius x M one nine 17 00:00:58,520 --> 00:01:01,639 Speaker 1: Team and around the world on Bloomberg Radio dot com 18 00:01:01,880 --> 00:01:08,399 Speaker 1: and via the Bloomberg Business app. Good Morning, I'm Nathan 19 00:01:08,480 --> 00:01:11,679 Speaker 1: Higer and I'm Karen Moscow, US dot in next. Futures 20 00:01:11,720 --> 00:01:14,120 Speaker 1: are little change this morning. We are coming up to 21 00:01:14,160 --> 00:01:15,800 Speaker 1: six o one on Wall Street. I mean checked the 22 00:01:15,800 --> 00:01:19,520 Speaker 1: markets every fifteen minutes throughout the trading day. On Bloomberg again, 23 00:01:19,600 --> 00:01:22,280 Speaker 1: futures are a little change. The decks in Germany is 24 00:01:22,360 --> 00:01:25,040 Speaker 1: down about a tenth of uppercent ten year treasury up 25 00:01:25,080 --> 00:01:27,760 Speaker 1: seven thirty seconds. You have three point to three percent 26 00:01:27,840 --> 00:01:30,080 Speaker 1: and a yield on the two year three point four 27 00:01:30,200 --> 00:01:33,200 Speaker 1: three percent. And I'm ex screwed. Oil is down half 28 00:01:33,200 --> 00:01:36,559 Speaker 1: percent and eighty one dollar fifty three cents a barrel. Nathan, Karen. 29 00:01:36,600 --> 00:01:39,240 Speaker 1: We begin overseas this morning. The European Central Bank is 30 00:01:39,240 --> 00:01:42,080 Speaker 1: getting ready for its first monetary policy meeting since July, 31 00:01:42,200 --> 00:01:45,320 Speaker 1: and economists expect the ECB to deliver a rate hike 32 00:01:45,440 --> 00:01:49,080 Speaker 1: as high as seventy five basis points Bloomberg. Stephen Carroll 33 00:01:49,200 --> 00:01:51,880 Speaker 1: joins us with more from London. Good morning, Stephen, Good 34 00:01:51,880 --> 00:01:54,840 Speaker 1: morning Nathan and Karen. Yes, fifty or seventy five basis 35 00:01:54,920 --> 00:01:56,840 Speaker 1: points not seen as the choice on the table for 36 00:01:56,920 --> 00:02:01,160 Speaker 1: the ECB. Markets leaning towards a jumbo. If confirmed, it 37 00:02:01,160 --> 00:02:03,680 Speaker 1: will be the first seventy five basis point increase for 38 00:02:03,720 --> 00:02:07,360 Speaker 1: the bank since nine Back then, euro notes and coins 39 00:02:07,360 --> 00:02:10,560 Speaker 1: weren't even in circulation. Policymakers want to get a grip 40 00:02:10,600 --> 00:02:13,520 Speaker 1: on inflation that's running at a record nine point one percent. 41 00:02:13,720 --> 00:02:16,600 Speaker 1: At to that rising fears of a recession A week 42 00:02:16,680 --> 00:02:19,120 Speaker 1: you're out trading below parity with the dollar, adding to 43 00:02:19,160 --> 00:02:22,520 Speaker 1: those woes as European countries pay more for imported oil 44 00:02:22,560 --> 00:02:27,440 Speaker 1: and gas that's priced in dollars. I'm Stephen Carroll, Bloomberg Daybreak, right, Stephen, 45 00:02:27,440 --> 00:02:29,600 Speaker 1: thank you. Back here in the US will be watching 46 00:02:29,720 --> 00:02:32,639 Speaker 1: comments from Federal Reserve chair j. Powell is scheduled to 47 00:02:32,680 --> 00:02:35,000 Speaker 1: take part in a moderated discussion hosted a bout the 48 00:02:35,040 --> 00:02:37,919 Speaker 1: Cato Institute this morning. Stick with us for live coverage 49 00:02:37,919 --> 00:02:40,480 Speaker 1: of his remarks starting around nine am Wall Street Time 50 00:02:40,520 --> 00:02:43,760 Speaker 1: on Bloomberg Radio and television. Markets will be following those 51 00:02:43,760 --> 00:02:46,280 Speaker 1: remarks closely here and After the release of the Fed's 52 00:02:46,320 --> 00:02:49,840 Speaker 1: Beige Book yesterday, the Regional Survey indicated week prospects for 53 00:02:49,960 --> 00:02:53,400 Speaker 1: economic expansion. Ryan Lamendez, advisor to the board of directors 54 00:02:53,400 --> 00:02:55,920 Speaker 1: at the Currency Capital He says markets are pricing in 55 00:02:56,040 --> 00:02:59,120 Speaker 1: interest rate hikes but may not be taking quantitative tiightening 56 00:02:59,160 --> 00:03:02,880 Speaker 1: into account. Aggressive CUTI is actually doing what they say 57 00:03:02,919 --> 00:03:05,639 Speaker 1: they were going to do, which is reduced their balance 58 00:03:05,680 --> 00:03:08,640 Speaker 1: sheets by forty seven billion dollars a month or double that, 59 00:03:08,960 --> 00:03:11,720 Speaker 1: and they have not done so. So Yes, risky assets 60 00:03:11,760 --> 00:03:14,400 Speaker 1: are not pricing this because the Fed has showed that 61 00:03:14,440 --> 00:03:17,000 Speaker 1: it is not doing it, and maybe we'll not do 62 00:03:17,040 --> 00:03:22,000 Speaker 1: it more aggressive. Given the geopolitics, this might create not 63 00:03:22,080 --> 00:03:24,760 Speaker 1: a hard landing but an actual crash. Ryan Lamand with 64 00:03:24,840 --> 00:03:28,079 Speaker 1: SECURENCY capital, says investors should tread carefully as the FED 65 00:03:28,120 --> 00:03:31,840 Speaker 1: reduces its balance sheet. Meantime, Nathan Goldman SAX is lifting 66 00:03:31,880 --> 00:03:34,519 Speaker 1: its forecast for the pace of interest rate hikes. The 67 00:03:34,560 --> 00:03:36,720 Speaker 1: bank now expects the Fed to hike by seventy five 68 00:03:36,760 --> 00:03:39,680 Speaker 1: basis points this month and fifty basis points in November. 69 00:03:39,920 --> 00:03:42,880 Speaker 1: The bank is also forecasting a twenty five basis point 70 00:03:42,960 --> 00:03:45,360 Speaker 1: move in December. All right, let's turn to the market 71 00:03:45,400 --> 00:03:48,640 Speaker 1: action now beginning in Asia. Stocks in the region rebounded 72 00:03:48,680 --> 00:03:52,520 Speaker 1: from two year lows. Overnight bonds climbed after Australia's central 73 00:03:52,520 --> 00:03:55,320 Speaker 1: banks signal the potential and two big interest rate hike 74 00:03:55,400 --> 00:03:58,120 Speaker 1: Sploomberg's Juliette Sally joins US with the details from Singapore. 75 00:03:58,160 --> 00:04:00,440 Speaker 1: Good morning, Juliette, Good morning Nathan and car. The regional 76 00:04:00,480 --> 00:04:03,040 Speaker 1: index rose around one percent, led by games in Japan 77 00:04:03,120 --> 00:04:05,760 Speaker 1: and Australia. All these stokes were bid along with bones 78 00:04:05,800 --> 00:04:08,200 Speaker 1: after a b A. Governor Low indicated the case for 79 00:04:08,360 --> 00:04:12,240 Speaker 1: slower monetary tightening is getting stronger as borrowing costs climbed. 80 00:04:12,360 --> 00:04:14,880 Speaker 1: The AUSSI was the weakest G ten performer, and the 81 00:04:14,920 --> 00:04:17,839 Speaker 1: off sho Uan remained under pressure despite the PBOC setting 82 00:04:17,880 --> 00:04:20,480 Speaker 1: US stronger than expect could fix for a twelfth day 83 00:04:20,520 --> 00:04:23,960 Speaker 1: in Singapore. Juliette Sally Bloomberg. Daybreak right, Julia, thank you 84 00:04:24,000 --> 00:04:26,159 Speaker 1: all for keeping an eye on the yen this morning. 85 00:04:26,320 --> 00:04:29,600 Speaker 1: It had biggest swings overnight weaker and then stronger, now 86 00:04:29,640 --> 00:04:32,200 Speaker 1: weaker again. There are a poor set. Officials in Japan 87 00:04:32,240 --> 00:04:34,520 Speaker 1: are meeting for the first times in June to discuss 88 00:04:34,560 --> 00:04:37,640 Speaker 1: the situation. Checking the yen right now it's at one 89 00:04:37,760 --> 00:04:41,200 Speaker 1: forty three point eight seven against the dollar. Staying overseas carent. 90 00:04:41,240 --> 00:04:43,800 Speaker 1: We have a big move in geopolitics. The US is 91 00:04:43,839 --> 00:04:47,440 Speaker 1: warning about Chinese threats to Taiwan. White House National Security 92 00:04:47,440 --> 00:04:50,039 Speaker 1: Advisor Jake Sullivan says the US is working to alter 93 00:04:50,160 --> 00:04:52,599 Speaker 1: policy toward the island in light of threats from Beijing. 94 00:04:52,920 --> 00:04:56,640 Speaker 1: I think it remains a distinct threat that there could 95 00:04:56,680 --> 00:05:01,200 Speaker 1: be a military contingency around Taiwan and UH. The People's 96 00:05:01,240 --> 00:05:04,120 Speaker 1: Republic of China has actually stated his official policy that 97 00:05:04,200 --> 00:05:07,719 Speaker 1: it is not taking the invasion of Taiwan off the table, 98 00:05:07,800 --> 00:05:11,039 Speaker 1: that that remains one of the potential options for the 99 00:05:11,080 --> 00:05:14,640 Speaker 1: reunification of Taiwan. National Security Advisor Jake Sullivan spoke on 100 00:05:14,680 --> 00:05:17,840 Speaker 1: the David Rubinstein Show Peer to Peer Conversations. Catch the 101 00:05:17,880 --> 00:05:20,560 Speaker 1: program later this month on Bloomberg Television. It's coming up 102 00:05:20,600 --> 00:05:24,200 Speaker 1: September twenty one at nine pm Eastern meantime. Nathan the 103 00:05:24,320 --> 00:05:27,560 Speaker 1: US is also taking aim at China on the economic front. 104 00:05:27,600 --> 00:05:29,880 Speaker 1: The White House is hosting the first gathering of Asian 105 00:05:29,960 --> 00:05:33,640 Speaker 1: nations over an economic agreement that aims to counter Beijing's 106 00:05:33,800 --> 00:05:36,919 Speaker 1: rising influence in the region. It comes as Chinese President 107 00:05:36,920 --> 00:05:40,160 Speaker 1: Sheijin Ping prepares to meet Russian President Vladimir Putin in 108 00:05:40,240 --> 00:05:44,560 Speaker 1: person for the first time since Moscow invaded Ukraine. Bloomberg, 109 00:05:44,560 --> 00:05:48,839 Speaker 1: Stephen Angle and Hong Kong states the agreement is unusually structured. 110 00:05:49,160 --> 00:05:52,599 Speaker 1: It's a non traditional trade agreement that the United States 111 00:05:52,600 --> 00:05:55,320 Speaker 1: and the Biden administration has come up with and has 112 00:05:55,400 --> 00:05:59,200 Speaker 1: brought in a thirteen other countries in the Asia Pacific, 113 00:05:59,320 --> 00:06:01,080 Speaker 1: and they're going to be meeting in Los Angeles in 114 00:06:01,120 --> 00:06:03,359 Speaker 1: the inaugural meeting. It's gonna be a couple of days. 115 00:06:03,720 --> 00:06:07,320 Speaker 1: It's not really a traditional ft A free trade agreement. 116 00:06:07,360 --> 00:06:10,840 Speaker 1: It is not like TPP, it's not really aimed at 117 00:06:10,960 --> 00:06:14,040 Speaker 1: cutting tariff and Bloomberry Stephen Angles says. Critics of the 118 00:06:14,080 --> 00:06:17,240 Speaker 1: agreement argue it's too vague and want more details. All 119 00:06:17,240 --> 00:06:19,080 Speaker 1: the while, in China, care in the city of cheng 120 00:06:19,160 --> 00:06:22,040 Speaker 1: Do is extending a week long lockdown in most areas 121 00:06:22,080 --> 00:06:24,840 Speaker 1: after an increase in COVID cases. Chengg Do is home 122 00:06:24,880 --> 00:06:27,599 Speaker 1: to twenty one million people. It's the biggest city to 123 00:06:27,640 --> 00:06:31,400 Speaker 1: shut since Shanghai's two months lockdown earlier this year. Authorities 124 00:06:31,440 --> 00:06:34,440 Speaker 1: will continue mass testing and are pledging to eliminate community 125 00:06:34,520 --> 00:06:37,520 Speaker 1: spread of the virus within a week. And finally, Nathan 126 00:06:37,640 --> 00:06:40,520 Speaker 1: Let's talk, oil crudis some to an eight month low 127 00:06:40,560 --> 00:06:43,760 Speaker 1: as investors assess global demand amid China lockdowns. At an 128 00:06:43,800 --> 00:06:47,360 Speaker 1: economic slowdown, West Texas intermediate push back toward eighty three 129 00:06:47,360 --> 00:06:50,440 Speaker 1: dollars a barrel after collapsing by almost six percent on Wednesday, 130 00:06:50,680 --> 00:06:54,159 Speaker 1: the biggest laws since mid July. Checking prices right now 131 00:06:54,279 --> 00:06:56,559 Speaker 1: not next screwed oils down half per cent or forty 132 00:06:56,760 --> 00:06:59,640 Speaker 1: cents at eighty one dollars, fifty cents of barrel. Brent 133 00:06:59,839 --> 00:07:03,640 Speaker 1: is down four ten percent at eighty seven dollars six since. 134 00:07:03,960 --> 00:07:08,360 Speaker 1: Futures again, well, they're starting to show some declines here. 135 00:07:08,480 --> 00:07:11,680 Speaker 1: S and P futures down around three points now, futures 136 00:07:11,720 --> 00:07:14,880 Speaker 1: down nineteen, NASA futures down eleven. Straight ahead your latest 137 00:07:14,960 --> 00:07:23,360 Speaker 1: level headlines plus the check of sports, and this is Bloomberg, right, Karen, 138 00:07:23,400 --> 00:07:25,480 Speaker 1: thank you. Six o seven on Wall Street, sixty five 139 00:07:25,520 --> 00:07:28,520 Speaker 1: degrees in Central park westbound l as jammed between the 140 00:07:28,520 --> 00:07:30,960 Speaker 1: Grand Central park Ley and wood Haven Boulevard. Will tell 141 00:07:30,960 --> 00:07:33,400 Speaker 1: you more in traffic shortly first, John Tucker's here with 142 00:07:33,440 --> 00:07:35,000 Speaker 1: more on what else is going on in New York 143 00:07:35,040 --> 00:07:38,120 Speaker 1: and around the world. John Nathan Governor Kafy Hoco has 144 00:07:38,160 --> 00:07:41,720 Speaker 1: lifted the state's master requirement for public transit. It removes 145 00:07:41,800 --> 00:07:44,680 Speaker 1: one of the last remaining government mandates of the pandemic. 146 00:07:45,000 --> 00:07:48,760 Speaker 1: We're watching global trends, We're watching for variance We're watching 147 00:07:48,760 --> 00:07:51,240 Speaker 1: for any updates and vaccines, but we do believe that 148 00:07:51,240 --> 00:07:53,920 Speaker 1: we're in a good place right now, especially if New 149 00:07:53,960 --> 00:07:57,960 Speaker 1: Yorkers take advantage of this booster focal making the announcement 150 00:07:58,000 --> 00:08:01,880 Speaker 1: before receiving the Omacronspacis think booster mass will still be 151 00:08:01,960 --> 00:08:06,400 Speaker 1: mandatory in healthcare settings and at adult care facilities. Uber 152 00:08:06,440 --> 00:08:09,680 Speaker 1: will begin rolling out yellow taxi rides in New York. 153 00:08:09,840 --> 00:08:13,040 Speaker 1: More in this report from bloombergs Jeff Bellinger, it's a 154 00:08:13,120 --> 00:08:15,920 Speaker 1: long away to deffort to help these a driver shortage 155 00:08:15,920 --> 00:08:19,679 Speaker 1: and pressure on fairs. The Big Apple's iconic yellow cabs 156 00:08:19,680 --> 00:08:22,480 Speaker 1: have started to appear on the ride hailing platform for 157 00:08:22,520 --> 00:08:26,160 Speaker 1: a randomized majority of active New York City riders, allowing 158 00:08:26,200 --> 00:08:29,080 Speaker 1: them to book trips and taxis through the Uber app. 159 00:08:29,440 --> 00:08:32,520 Speaker 1: Under an agreement, Uber customers can hail a taxi at 160 00:08:32,520 --> 00:08:35,280 Speaker 1: the same price as an Uber X, and they'll see 161 00:08:35,280 --> 00:08:39,200 Speaker 1: the fair upfront before requesting a trip. Driver's earnings will 162 00:08:39,240 --> 00:08:42,320 Speaker 1: initially be based on the City Taxi and Limousine Commission 163 00:08:42,400 --> 00:08:45,520 Speaker 1: mandated rates, which are close to thirty two dollars an hour. 164 00:08:45,960 --> 00:08:49,920 Speaker 1: Jeff Bellinger, Bloomberg day Break. Abortion remains legal in Michigan. 165 00:08:49,960 --> 00:08:53,120 Speaker 1: After a judge permanently blocked enforcement of a ninety one 166 00:08:53,160 --> 00:08:56,080 Speaker 1: year old band that could have become law. It followed 167 00:08:56,120 --> 00:08:59,360 Speaker 1: the U. S. Supreme Court's decision to overturn Roll versus Wade. 168 00:08:59,640 --> 00:09:01,959 Speaker 1: The band, which was opposed to a separate law super 169 00:09:02,120 --> 00:09:06,559 Speaker 1: Governagretchen Witmer, was on hold after a temporary ruling. President 170 00:09:06,559 --> 00:09:08,800 Speaker 1: Biden will host a call with allies today about the 171 00:09:08,840 --> 00:09:12,760 Speaker 1: next steps in support of Ukraine against Russian invasion and meantime, 172 00:09:12,800 --> 00:09:16,200 Speaker 1: the Pentagon and send Ukraine it's most accurate artillery show 173 00:09:16,240 --> 00:09:20,040 Speaker 1: the GPS guided Excalibur, a satellite guided weapon that can 174 00:09:20,160 --> 00:09:22,880 Speaker 1: hit within seven ft of its target. The ex Caliber 175 00:09:23,080 --> 00:09:25,400 Speaker 1: was first used in Iraq in two thousand and seven 176 00:09:25,760 --> 00:09:29,040 Speaker 1: in the high profile killing of an Alcada leader. In 177 00:09:29,160 --> 00:09:33,240 Speaker 1: California's power grid once again didn't break despite being stretched 178 00:09:33,280 --> 00:09:36,320 Speaker 1: to the limit as the punishing heatwave there continues to 179 00:09:36,360 --> 00:09:39,720 Speaker 1: test the state's ability to keep the lights on. Today 180 00:09:39,840 --> 00:09:42,880 Speaker 1: promises to be another ten standoff. We at demand forecast 181 00:09:42,960 --> 00:09:46,920 Speaker 1: near a record high in the California Independent System Operator 182 00:09:47,160 --> 00:09:51,520 Speaker 1: already declaring an emergency. Watch Global News twenty four hours 183 00:09:51,520 --> 00:09:54,000 Speaker 1: a day on irand on Bloomberg Quicktake. We're powered by 184 00:09:54,040 --> 00:09:56,640 Speaker 1: more than seven hundred journalists and analysts in more than 185 00:09:56,720 --> 00:10:01,200 Speaker 1: one countries on John Tucker and as bloom Nathan all Right, John, 186 00:10:01,240 --> 00:10:07,880 Speaker 1: thanks coming up to six ten on Wall Street, John 187 00:10:07,880 --> 00:10:11,080 Speaker 1: Staninshower's got the Bloomberg Sports Nathan Let's play two. Mets 188 00:10:11,080 --> 00:10:13,520 Speaker 1: and Yankees both made up rainouts with doubleheaders, and both 189 00:10:13,559 --> 00:10:15,959 Speaker 1: had swaves. Both had their aces on the mound for 190 00:10:16,000 --> 00:10:18,600 Speaker 1: the night kept provided them with plenty of offense. That's 191 00:10:18,600 --> 00:10:20,920 Speaker 1: not normally the case when Jacob de Grand pitches, but 192 00:10:21,040 --> 00:10:23,880 Speaker 1: de Gram and the Mets beat the Pirates, tending up 193 00:10:24,040 --> 00:10:26,040 Speaker 1: in after the Mets took the opener five to one 194 00:10:26,080 --> 00:10:28,280 Speaker 1: at the Stadium, Garrett Cole on the mound of the 195 00:10:28,320 --> 00:10:31,160 Speaker 1: second game, he struck out fourteen. Yanks beat the Twins 196 00:10:31,520 --> 00:10:34,320 Speaker 1: seven to one. Isaiah Connord for Leffer with a grand slam. 197 00:10:34,360 --> 00:10:37,679 Speaker 1: The opener included yet another home run behind you know 198 00:10:37,840 --> 00:10:40,800 Speaker 1: who that you won swinging on hit in there in 199 00:10:40,800 --> 00:10:43,200 Speaker 1: a deep Linton. That fall is high cut us far 200 00:10:43,600 --> 00:10:51,200 Speaker 1: that up. God, It's amazing and I mean that absolutely. 201 00:10:51,760 --> 00:10:54,320 Speaker 1: He's done it again. How does he do it? John 202 00:10:54,320 --> 00:10:57,040 Speaker 1: Sterling w f A n SO now fifty five home 203 00:10:57,160 --> 00:10:59,440 Speaker 1: runs for Aaron Judge the Yanks won five to four 204 00:10:59,440 --> 00:11:03,000 Speaker 1: when they scored twice in the twelfth inning. Another incredibly 205 00:11:03,160 --> 00:11:06,320 Speaker 1: late night slash early morning at the US Open. Forty 206 00:11:06,320 --> 00:11:09,440 Speaker 1: eight hours after Carlos Alcarez one his fourth round matchup 207 00:11:09,480 --> 00:11:13,800 Speaker 1: to three am, Alcarez was back finishing his quarterfinal victory 208 00:11:13,800 --> 00:11:17,480 Speaker 1: over Yannick Center at two fifty am. The match went 209 00:11:17,559 --> 00:11:20,880 Speaker 1: five hours fifteen minutes. Alcarez faced a match point in 210 00:11:20,880 --> 00:11:23,760 Speaker 1: the fourth set. He's into the semis to play. Francis 211 00:11:23,760 --> 00:11:27,040 Speaker 1: Tiafo's doing things no American man has done since Andy Roddick. 212 00:11:27,080 --> 00:11:29,800 Speaker 1: Tiafo first for the US to be a Grand Slam 213 00:11:29,840 --> 00:11:32,440 Speaker 1: semifinalists its two thousand nine, first to do it at 214 00:11:32,480 --> 00:11:34,720 Speaker 1: the Open since oh six, and Tiafa is the first 215 00:11:35,000 --> 00:11:39,920 Speaker 1: African American Men's Open semifinalists since Arthur Ash fifty years ago. 216 00:11:39,960 --> 00:11:43,240 Speaker 1: They'll play the women's semifinals at Arthur Ash Stadium tonight. 217 00:11:43,559 --> 00:11:46,880 Speaker 1: John stash Award Bloomberg Sports. Nathan thinks, John right now, 218 00:11:47,080 --> 00:11:50,640 Speaker 1: S and P futures are moving, uh well, not really 219 00:11:50,640 --> 00:11:53,040 Speaker 1: moving at all. They're little changed to the downside. Dal 220 00:11:53,120 --> 00:11:56,880 Speaker 1: futures are up to Nastack futures are down two points 221 00:11:56,920 --> 00:12:01,160 Speaker 1: so futures contracts pretty much. It will changed across the 222 00:12:01,200 --> 00:12:07,760 Speaker 1: board ahead of an ECB decision. This is Bloomberg Bloomberg eleventh, 223 00:12:07,760 --> 00:12:10,719 Speaker 1: three oh weather mostly sunny, high your eighty today will 224 00:12:10,760 --> 00:12:14,040 Speaker 1: be in the low eighties in the sunshine. Tomorrow Saturday sunny, 225 00:12:14,040 --> 00:12:16,360 Speaker 1: low eighties. Will call it partly sunny in low eighties 226 00:12:16,480 --> 00:12:22,440 Speaker 1: on Sunday. Right now sixty five in Central Park Markets, 227 00:12:22,520 --> 00:12:25,600 Speaker 1: headlines and breaking news twenty four hours a day at 228 00:12:25,640 --> 00:12:29,600 Speaker 1: Bloomberg dot Com, the Bloomberg Business Outland. At Bloomberg Quick Tape, 229 00:12:30,160 --> 00:12:39,079 Speaker 1: He's a Bloomberg Business flash and I'm Karen Moscow and 230 00:12:39,160 --> 00:12:42,400 Speaker 1: European stocks and impairing early gains his investors brace for 231 00:12:42,440 --> 00:12:46,360 Speaker 1: potential unprecedented monetary policy tening by the region's central Bank 232 00:12:46,440 --> 00:12:50,040 Speaker 1: later today and new west Dock Index futures. They're little changed. 233 00:12:50,160 --> 00:12:52,400 Speaker 1: We checked the markets every fifteen minutes throughout the trading 234 00:12:52,480 --> 00:12:55,319 Speaker 1: day on Bloomberg again. Futures that will change this morning. 235 00:12:55,320 --> 00:12:57,480 Speaker 1: The DECKS in Germany is down about three tenths of 236 00:12:57,600 --> 00:13:00,160 Speaker 1: upper sent CAC in Paris is up three towns of 237 00:13:00,360 --> 00:13:02,320 Speaker 1: percent of the foot see one hundred up two tenths 238 00:13:02,360 --> 00:13:05,240 Speaker 1: of a percent. Ten year Treasury up six thirty seconds. 239 00:13:05,280 --> 00:13:07,160 Speaker 1: You have three point to four percent. The yield on 240 00:13:07,240 --> 00:13:10,199 Speaker 1: the two year three point for three percent. Nine X 241 00:13:10,240 --> 00:13:12,680 Speaker 1: screwed oils down half percent or forty three cents at 242 00:13:12,720 --> 00:13:15,480 Speaker 1: eighty one dollars fifty one cents, and barrel comics gold 243 00:13:15,559 --> 00:13:17,599 Speaker 1: up two tens percent or three dollars ten cents is 244 00:13:17,679 --> 00:13:21,240 Speaker 1: seventeen thirty ninety announced. The euro one point is zero 245 00:13:21,360 --> 00:13:24,000 Speaker 1: zero zero two against the dollar British bound one point 246 00:13:24,000 --> 00:13:26,640 Speaker 1: one four nine four and the yen one three point 247 00:13:26,640 --> 00:13:30,000 Speaker 1: eight nine. And bitcoin this morning is down half percent 248 00:13:30,040 --> 00:13:33,280 Speaker 1: in nineteen thousand, two hundred ninety dollars as a Bloomberg 249 00:13:33,280 --> 00:13:35,720 Speaker 1: business flash. Now here's John Tucker with more on what's 250 00:13:35,760 --> 00:13:38,040 Speaker 1: going on around the world. John you, good morning, Karen. 251 00:13:38,080 --> 00:13:40,880 Speaker 1: Police at Memphis have arrested a nineteen year old and 252 00:13:40,960 --> 00:13:43,280 Speaker 1: if four people were killed three others wounded in a 253 00:13:43,400 --> 00:13:47,679 Speaker 1: random shooting spree that was live streamed on Facebook. President 254 00:13:47,760 --> 00:13:50,120 Speaker 1: Biden holding back on a decision to scrap at a 255 00:13:50,200 --> 00:13:54,760 Speaker 1: trump erad tariffs on China imports, the pentagoncent Ukraine. It's 256 00:13:54,840 --> 00:13:59,160 Speaker 1: most accurate artillery shell. Sports Yankees beat the Twins in 257 00:13:59,320 --> 00:14:02,440 Speaker 1: both games, so they're doublehead or the Men's also winners, 258 00:14:02,480 --> 00:14:05,960 Speaker 1: beating the Pirates in both games of their doubleheader, as 259 00:14:06,040 --> 00:14:09,240 Speaker 1: lose to the Braves, Giants lose to the Dodgers, the 260 00:14:09,280 --> 00:14:11,800 Speaker 1: Red Sox lost to the Rays, the Orioles lost to 261 00:14:11,840 --> 00:14:14,880 Speaker 1: the Blue Jays, the Nationals lost to the Cardinals, and 262 00:14:15,000 --> 00:14:18,120 Speaker 1: the NFL season kicks off tonight. Global News twenty four 263 00:14:18,160 --> 00:14:21,960 Speaker 1: hours a day on Bloomberg and on Bloomberg Quicktake power 264 00:14:21,960 --> 00:14:24,480 Speaker 1: by more than twenty seven hundred journalists and analysts and 265 00:14:24,600 --> 00:14:27,520 Speaker 1: more than one hundred twenty countries. I'm John Soccer. These 266 00:14:27,680 --> 00:14:29,840 Speaker 1: is Bloomberg. Nathan. All right, John, Thanks, We've got some 267 00:14:29,920 --> 00:14:33,200 Speaker 1: breaking headlines just crossing the Bloomberg terminal. We've just learned 268 00:14:33,240 --> 00:14:36,880 Speaker 1: Secretary of State Anthony B. Lincoln is in Kiev on 269 00:14:36,920 --> 00:14:41,080 Speaker 1: an unannounced visit. This comes just moments after the Secretary 270 00:14:41,080 --> 00:14:44,960 Speaker 1: of State announced two billion dollars in new US military 271 00:14:45,000 --> 00:14:49,680 Speaker 1: aid for Europe will continue following these breaking developments. Bring 272 00:14:49,720 --> 00:14:52,680 Speaker 1: you more as we learn it right here on Bloomberg Radio. 273 00:14:52,760 --> 00:14:55,440 Speaker 1: In the meantime, we are live from the Bloomberg Interactive 274 00:14:55,480 --> 00:14:58,480 Speaker 1: Broker Studios, and you are listening to Bloomberg day Break 275 00:14:58,520 --> 00:15:02,720 Speaker 1: as we count down to an ECB decision. We're joined 276 00:15:02,720 --> 00:15:06,960 Speaker 1: by Bloomberg opinion columnist Marcus Ashworth as we await eight 277 00:15:07,040 --> 00:15:11,480 Speaker 1: fifteen Wall Street time for the policy rate decision from 278 00:15:11,560 --> 00:15:17,080 Speaker 1: the central bankers in Europe. Marcus, good morning. It feels 279 00:15:17,080 --> 00:15:19,720 Speaker 1: like deja vaux. We're thinking about whether it's going to 280 00:15:19,800 --> 00:15:22,720 Speaker 1: be fifty basis points or seventy five basis points. Isn't 281 00:15:22,720 --> 00:15:24,360 Speaker 1: that what we did with the FED just one or 282 00:15:24,360 --> 00:15:27,280 Speaker 1: two ago. Yeah, and we're thinking about the same thing 283 00:15:27,720 --> 00:15:29,440 Speaker 1: the Bank of England as well. It seems to all 284 00:15:29,480 --> 00:15:32,640 Speaker 1: the rage that's seventy five basis point to move the difference. 285 00:15:34,160 --> 00:15:36,360 Speaker 1: It makes some sense in the concepts that you've got 286 00:15:36,400 --> 00:15:39,320 Speaker 1: a very straw economy and you look, you know, the 287 00:15:39,320 --> 00:15:41,960 Speaker 1: FEDS are a very clear mission and being reinforced by 288 00:15:42,080 --> 00:15:45,120 Speaker 1: Jackson Hole. An address from from j. Powe which is 289 00:15:45,600 --> 00:15:49,520 Speaker 1: I'm remittingly hawk ish. Um, so it's dragging the rest 290 00:15:49,520 --> 00:15:51,800 Speaker 1: of the crowd along with it, and I think ec 291 00:15:52,000 --> 00:15:56,240 Speaker 1: being very careful. Um that merely going on with seventy 292 00:15:56,240 --> 00:15:59,040 Speaker 1: five basis point right height, which is now become the 293 00:15:59,040 --> 00:16:03,120 Speaker 1: common accepted moved today. Only six out of twenty six 294 00:16:03,200 --> 00:16:05,320 Speaker 1: or hour a minute is members of the government Council 295 00:16:05,320 --> 00:16:08,320 Speaker 1: have sort of expressed the sort of hawkish view but 296 00:16:08,520 --> 00:16:11,120 Speaker 1: for whatever reason, and we've learned to read these sort 297 00:16:11,120 --> 00:16:15,480 Speaker 1: of smoke signals from the other press a little bit 298 00:16:15,520 --> 00:16:18,680 Speaker 1: more seriously, as as clearly in July they were last 299 00:16:18,720 --> 00:16:21,520 Speaker 1: minute decided on a fifty rather twenty five, and now 300 00:16:21,600 --> 00:16:24,320 Speaker 1: it seems to be rather than a fifty, it's going 301 00:16:24,360 --> 00:16:27,480 Speaker 1: to be a seventy five today. Well, you know, it 302 00:16:27,560 --> 00:16:29,760 Speaker 1: would be careful. The economy is is very weak. You know, 303 00:16:30,440 --> 00:16:34,280 Speaker 1: Russia's shut down the North String pipeline and to do 304 00:16:35,800 --> 00:16:38,000 Speaker 1: open heart surgery on the on the European economy after 305 00:16:38,080 --> 00:16:40,600 Speaker 1: such a terrible time through the pandemic, it's never really recovered. 306 00:16:41,480 --> 00:16:45,000 Speaker 1: It is brave, very great. So is there a possibility 307 00:16:45,040 --> 00:16:47,520 Speaker 1: then that we could see less than a seventy five 308 00:16:47,560 --> 00:16:51,720 Speaker 1: basis point we have given, as you mentioned, the serious 309 00:16:52,040 --> 00:16:56,880 Speaker 1: energy crisis that's facing the Eurozone and potentially the idea 310 00:16:56,960 --> 00:16:59,320 Speaker 1: that the ECB might not necessarily have the tools to 311 00:16:59,360 --> 00:17:03,440 Speaker 1: tackle that of inflation. Well, indeed, it's the this is 312 00:17:04,040 --> 00:17:07,199 Speaker 1: exhaustists outside you know, energy inforsation was they've got no 313 00:17:07,240 --> 00:17:10,560 Speaker 1: real control over um. Well, obviously they're worrying about second 314 00:17:10,640 --> 00:17:13,480 Speaker 1: round of effects and that's why the core rates up 315 00:17:13,520 --> 00:17:16,040 Speaker 1: at four point three is is probably what's driving there 316 00:17:16,119 --> 00:17:19,639 Speaker 1: the scares attitude to this. It's very much driven by Germany, 317 00:17:19,640 --> 00:17:23,959 Speaker 1: which really has a pathological hatred of inflation. Nonetheless, the 318 00:17:24,000 --> 00:17:26,800 Speaker 1: rest of the of the euroserve, particularly countries like Italy, 319 00:17:27,160 --> 00:17:30,240 Speaker 1: you know, really struggling here UM and they're funding is 320 00:17:30,720 --> 00:17:33,640 Speaker 1: a question when it goes above four percent. The last 321 00:17:33,640 --> 00:17:36,960 Speaker 1: time around this is when they ACB had an emergency meeting. 322 00:17:37,400 --> 00:17:40,200 Speaker 1: We're not far away from that level now, so I'm 323 00:17:40,200 --> 00:17:42,080 Speaker 1: not quite sure why the mood has changed suddenly they 324 00:17:42,080 --> 00:17:44,720 Speaker 1: think they can do seventy five from for sure. The 325 00:17:44,760 --> 00:17:47,960 Speaker 1: chief Economists Philip Lane has intimated that he would much 326 00:17:47,960 --> 00:17:51,800 Speaker 1: prefer fifty UM, and I think Regard has sort of 327 00:17:51,880 --> 00:17:53,880 Speaker 1: hinted along the same mind as well, that the risk 328 00:17:53,920 --> 00:17:56,040 Speaker 1: here is if if seventy five is forced on them, 329 00:17:56,440 --> 00:17:59,120 Speaker 1: then they are perhaps having lost control and it's never 330 00:17:59,119 --> 00:18:02,000 Speaker 1: a good look for a central ranks, so a tricky one. 331 00:18:02,040 --> 00:18:04,320 Speaker 1: I hope fifty prevails just for the sanity. Doesn't mean 332 00:18:04,320 --> 00:18:06,600 Speaker 1: they can't be fifty again the next meeting. It's just 333 00:18:07,200 --> 00:18:11,240 Speaker 1: I think shocking an economy which has had eight years 334 00:18:11,280 --> 00:18:14,280 Speaker 1: of negative rates straight up with big semi five basis 335 00:18:14,320 --> 00:18:17,240 Speaker 1: point heights out of zero where they currently are. It 336 00:18:17,280 --> 00:18:19,000 Speaker 1: could be a little bit too much as particularly as 337 00:18:19,000 --> 00:18:20,879 Speaker 1: there's other other factors in I want to get too 338 00:18:20,920 --> 00:18:23,680 Speaker 1: excited about QT happening in Europe, but it's going to 339 00:18:23,760 --> 00:18:25,040 Speaker 1: be on the agenda by the end of the year 340 00:18:25,080 --> 00:18:27,400 Speaker 1: for sure. And they're also they're gonna have to take 341 00:18:27,400 --> 00:18:29,879 Speaker 1: my whole bunch of very very credible generous bank lending 342 00:18:29,920 --> 00:18:32,120 Speaker 1: that they've they've done throughout the whole pandemic as well. 343 00:18:32,200 --> 00:18:34,720 Speaker 1: So if they do all these things at once, it 344 00:18:34,760 --> 00:18:37,520 Speaker 1: may be too much. Final companacial conditions might tighten to 345 00:18:37,320 --> 00:18:39,679 Speaker 1: a credit crunch standard. Yeah, I want to focus on 346 00:18:39,680 --> 00:18:43,840 Speaker 1: our last minute here, Marcus on the balance sheet, the 347 00:18:43,880 --> 00:18:47,639 Speaker 1: look the access liquidity in the commercial banks and the 348 00:18:47,720 --> 00:18:49,399 Speaker 1: bond holdings in the ECB. Do you think we're going 349 00:18:49,440 --> 00:18:52,160 Speaker 1: to get more clarity from President Leguard on the direction 350 00:18:52,400 --> 00:18:55,320 Speaker 1: for the balance sheet and the ECB. Well, I think 351 00:18:55,359 --> 00:18:58,159 Speaker 1: she's going to try and damp that straight down. So 352 00:18:58,200 --> 00:19:01,160 Speaker 1: they have nine trillion balance sheet about five children, which 353 00:19:01,240 --> 00:19:05,400 Speaker 1: is in quantitily easy. Different sets of it is UM, 354 00:19:05,440 --> 00:19:08,000 Speaker 1: and I think there is talk possibly they may join 355 00:19:08,400 --> 00:19:11,280 Speaker 1: UM all the Central banks by letting it passively, as in, 356 00:19:11,320 --> 00:19:13,760 Speaker 1: when maturities come, let it roll off that way. But 357 00:19:13,840 --> 00:19:15,879 Speaker 1: I don't think that's this year's business. Let's certainly I 358 00:19:15,880 --> 00:19:18,440 Speaker 1: think Legard will want to try and push that question away. 359 00:19:18,600 --> 00:19:21,720 Speaker 1: She can, she will, I think regards of that the 360 00:19:21,760 --> 00:19:25,600 Speaker 1: TELTRA that targeted along term refound refinancing operations, they need 361 00:19:25,640 --> 00:19:27,840 Speaker 1: to probably right in that some of that findest minus 362 00:19:27,880 --> 00:19:29,919 Speaker 1: will present a little bit too generous if you've got 363 00:19:29,960 --> 00:19:32,640 Speaker 1: base rates now. But okay, up sade zero point seven five. 364 00:19:33,040 --> 00:19:35,520 Speaker 1: I'll be listening for those comments from President Leguard eight 365 00:19:36,359 --> 00:19:39,199 Speaker 1: Wall Street time after the decision from the ECB that 366 00:19:39,280 --> 00:19:42,000 Speaker 1: comes down at eight fifteen. Of course, we will have 367 00:19:42,119 --> 00:19:45,560 Speaker 1: full coverage for you here on Bloomberg Radio. Bloomberg Opinion 368 00:19:45,560 --> 00:19:49,120 Speaker 1: columnist Marcus Ashworth, thanks for joining us ahead of all that, 369 00:19:49,480 --> 00:19:52,440 Speaker 1: really appreciate it. Looking ahead to the market open here 370 00:19:52,480 --> 00:19:56,760 Speaker 1: on Wall Street, futures little changed, no change the SMP 371 00:19:56,920 --> 00:19:59,920 Speaker 1: futures right now down futures and nasty futures both up 372 00:20:00,560 --> 00:20:08,080 Speaker 1: two points. You're listening to Bloomberg Daybreak Bloomberg eleven three 373 00:20:08,119 --> 00:20:10,280 Speaker 1: oh weather mostly sunny with a high. Your eighty today 374 00:20:10,359 --> 00:20:14,400 Speaker 1: will be in the low eighties. Tomorrow, Saturday and Sunday. 375 00:20:14,880 --> 00:20:18,240 Speaker 1: Nice weekend shaping up right now sixty in Central Park, 376 00:20:25,160 --> 00:20:29,680 Speaker 1: Broadcasting live from the Bloomberg Interactive Broker Studio in New York. 377 00:20:29,800 --> 00:20:33,600 Speaker 1: Bloomberg E Living fre to Washington, d C, Bloomberg On 378 00:20:33,840 --> 00:20:37,080 Speaker 1: to Boston, Bloomberg one O six one to San Francisco, 379 00:20:37,160 --> 00:20:40,399 Speaker 1: Bloomberg nine sixty to the country Sirius XM Chad A 380 00:20:40,480 --> 00:20:43,400 Speaker 1: one nine team, and around the globe the Bloomberg Business 381 00:20:43,400 --> 00:20:48,119 Speaker 1: apt and Bloomberg Radio dot Com. This is Bloomberg Daybreak 382 00:20:53,160 --> 00:20:55,879 Speaker 1: six thirty on Wall Street. Good morning, I'm Nathan Hagar 383 00:20:56,160 --> 00:20:58,920 Speaker 1: and I'm Karen Moscow. We're just about three hours away 384 00:20:58,960 --> 00:21:00,920 Speaker 1: from the open of US aiding. Time for the fine 385 00:21:01,000 --> 00:21:03,040 Speaker 1: things that you need to notice. Start your day. Brought 386 00:21:03,160 --> 00:21:07,120 Speaker 1: to you by Interactive Brokers, Interactive Brokers, Simple, i VK 387 00:21:07,240 --> 00:21:10,040 Speaker 1: are Global Trader app, deposit in your local currency and 388 00:21:10,080 --> 00:21:13,240 Speaker 1: trade stocks in the US, Europe and Asia. Start your 389 00:21:13,240 --> 00:21:17,480 Speaker 1: free trial and ibkr dot com slash Global Trader at First. 390 00:21:17,480 --> 00:21:20,200 Speaker 1: The European Central Bank is expected to raise interest rates 391 00:21:20,200 --> 00:21:24,080 Speaker 1: at its first monetary policy meeting since July. Bloombergs Maria 392 00:21:24,119 --> 00:21:27,520 Speaker 1: today O says it's still unclear if they'll hike seventy 393 00:21:27,560 --> 00:21:30,320 Speaker 1: five basis points or fifty. When you look at the 394 00:21:30,359 --> 00:21:33,280 Speaker 1: seventy five basis points Camp, what they argue is there 395 00:21:33,400 --> 00:21:35,439 Speaker 1: is a window now to hike, and you should do 396 00:21:35,520 --> 00:21:39,000 Speaker 1: it quickly, decisively, and take swift action. This is now 397 00:21:39,000 --> 00:21:42,000 Speaker 1: about the credibility of the institution. On the flip side, 398 00:21:42,040 --> 00:21:44,840 Speaker 1: when you look at the fifty basis points at Camp here, 399 00:21:44,840 --> 00:21:47,080 Speaker 1: what they argue is that you could find yourself in 400 00:21:47,080 --> 00:21:50,440 Speaker 1: a situation where you're hiking aggressively at the same time 401 00:21:50,480 --> 00:21:54,359 Speaker 1: your economy about to enter potentially a recession and facing 402 00:21:54,440 --> 00:21:58,080 Speaker 1: an energy crisis. Bloombergs Maria Today Oh says a central 403 00:21:58,080 --> 00:22:01,320 Speaker 1: bank will definitely raise rates today. Back here in the US, 404 00:22:01,400 --> 00:22:03,960 Speaker 1: Karen Fed Chair j Powell takes part in a moderated 405 00:22:04,000 --> 00:22:06,960 Speaker 1: discussion hosted by the Cato Institute this morning. We'll bring 406 00:22:07,000 --> 00:22:09,240 Speaker 1: it to you live around nine am Wall Street time 407 00:22:09,280 --> 00:22:12,440 Speaker 1: on Bloomberg Radio and television. Overseas, Nathan, the US is 408 00:22:12,480 --> 00:22:16,400 Speaker 1: warning about Shinese threats to Taiwan. National Security Adviser Jake 409 00:22:16,480 --> 00:22:19,680 Speaker 1: Sullivan says he and congressional leaders are working to alter 410 00:22:19,840 --> 00:22:22,840 Speaker 1: policy toward the island. There are elements of that legislation 411 00:22:23,000 --> 00:22:25,640 Speaker 1: with respect to how we can strengthen our security assistance 412 00:22:25,680 --> 00:22:29,560 Speaker 1: for Taiwan that are quite effective and robust that will 413 00:22:29,600 --> 00:22:33,119 Speaker 1: improve Taiwan security. There are other elements that give us 414 00:22:33,160 --> 00:22:37,000 Speaker 1: some concern. National Security Advisor Jake Sullivan made the comments 415 00:22:37,000 --> 00:22:40,080 Speaker 1: on the David Rubinstein Show Peer to Peer Conversations. Catch 416 00:22:40,119 --> 00:22:43,120 Speaker 1: the program on Bloomberg Television September twenty one at nine 417 00:22:43,119 --> 00:22:45,760 Speaker 1: pm Eastern Time. Karen the wine House is hosting its 418 00:22:45,800 --> 00:22:48,600 Speaker 1: first gathering of Asian nations over an economic agreement aimed 419 00:22:48,680 --> 00:22:52,000 Speaker 1: encountering Beijing's rising influence in the region. Bloomberg Stephen Angle 420 00:22:52,040 --> 00:22:54,880 Speaker 1: in Hong Kong says the agreement is not traditional. It's 421 00:22:54,960 --> 00:22:58,119 Speaker 1: a non traditional trade agreement that the United States and 422 00:22:58,160 --> 00:23:01,560 Speaker 1: the Biden administration has come up and has brought in 423 00:23:01,920 --> 00:23:05,120 Speaker 1: a thirteen other countries in the Asia Pacific and they're 424 00:23:05,160 --> 00:23:07,600 Speaker 1: going to be meeting in Los Angeles in the inaugural meeting. 425 00:23:07,640 --> 00:23:10,400 Speaker 1: It's gonna be a couple of days. It's not really 426 00:23:10,440 --> 00:23:13,280 Speaker 1: a traditional ft A free trade agreement. It is not 427 00:23:13,440 --> 00:23:18,280 Speaker 1: like TPP. It's not really aimed at cutting tariff. Bloomberg 428 00:23:18,320 --> 00:23:20,639 Speaker 1: Stephen Engel says Critics think the practice too vague and 429 00:23:20,640 --> 00:23:24,360 Speaker 1: want more details and the end had big swings overnight 430 00:23:24,480 --> 00:23:27,280 Speaker 1: Nathan following reports that officials in Japan are meeting for 431 00:23:27,280 --> 00:23:30,120 Speaker 1: the first time since June to discuss the situation. That's 432 00:23:30,119 --> 00:23:31,760 Speaker 1: the five things that you need to know to start 433 00:23:31,760 --> 00:23:39,320 Speaker 1: your day. Brought to you by Interactive Brokers. Thanks Karen Sixe. 434 00:23:39,320 --> 00:23:41,520 Speaker 1: On Wall Street sixty five degrees in Central Park, got 435 00:23:41,520 --> 00:23:44,320 Speaker 1: an accident on the white Stone Expressway southbound. Ran to 436 00:23:44,320 --> 00:23:46,680 Speaker 1: the Van Wick More coming up in traffic first John 437 00:23:46,720 --> 00:23:48,800 Speaker 1: Tucker with more on what's happening in New York and 438 00:23:48,880 --> 00:23:52,680 Speaker 1: around the world. John and Nathan's Secretary of State, Anthony Blincoln, 439 00:23:52,800 --> 00:23:55,920 Speaker 1: has made an unannounced visit to Ukraine today. The trip 440 00:23:56,040 --> 00:23:59,200 Speaker 1: is b Lincoln's third since the start of Russia's invasion 441 00:23:59,280 --> 00:24:02,720 Speaker 1: in February. Meantime, President Biden will hold a video call 442 00:24:02,800 --> 00:24:05,280 Speaker 1: today with allies that talks will focus on the next 443 00:24:05,280 --> 00:24:08,600 Speaker 1: steps to support Ukraine on the Pentagon has also sent 444 00:24:08,680 --> 00:24:12,440 Speaker 1: to Ukraine it's most accurate artillery shell, the GPS Guided 445 00:24:12,520 --> 00:24:15,880 Speaker 1: ex Caliber. According to budget documents, one of the last 446 00:24:15,880 --> 00:24:19,240 Speaker 1: remaining government mandates of the pandemic has now been lifted. 447 00:24:19,480 --> 00:24:21,240 Speaker 1: Let's goot more of this morning and this report from 448 00:24:21,240 --> 00:24:24,879 Speaker 1: Bloomberg's Lisa Mateo, New York Governor Kathy Hukel has lifted 449 00:24:24,880 --> 00:24:28,080 Speaker 1: the state's mask requirement for public transit. It comes after 450 00:24:28,160 --> 00:24:31,679 Speaker 1: months of confusion among commuters by varying national, state, and 451 00:24:31,720 --> 00:24:35,200 Speaker 1: local rules and where face coverings are required. The governor 452 00:24:35,200 --> 00:24:37,919 Speaker 1: says COVID numbers are stable, putting the state in a 453 00:24:37,960 --> 00:24:41,600 Speaker 1: good place now effective immediately, Masks will no longer be 454 00:24:41,680 --> 00:24:46,200 Speaker 1: required for mass transit, correctional facilities, and shelters. Mass mandates 455 00:24:46,240 --> 00:24:48,920 Speaker 1: remain in effect at nursing homes as well as other 456 00:24:48,960 --> 00:24:52,360 Speaker 1: healthcare facilities regulated by the state. Mass compliance on New 457 00:24:52,440 --> 00:24:55,680 Speaker 1: York City subways, buses, and commuter trains had waned over 458 00:24:55,680 --> 00:24:59,600 Speaker 1: the past few months. Lisa Mateo, Bloomberg Daybreak. Another mass 459 00:24:59,640 --> 00:25:03,000 Speaker 1: shoot in Memphis. Four people were killed three others injured 460 00:25:03,240 --> 00:25:05,399 Speaker 1: in a shooting spree that held the city hostage for 461 00:25:05,480 --> 00:25:08,960 Speaker 1: hours last night. Police say nineteen yearld Ezekiel Kelly drove 462 00:25:08,960 --> 00:25:12,880 Speaker 1: around randomly shooting people while live streaming on Facebook. He 463 00:25:12,920 --> 00:25:15,879 Speaker 1: was taken into custody. CORP record show Kelly had a 464 00:25:15,880 --> 00:25:19,640 Speaker 1: previous first degree murder charge, but pleaded down to aggravated assault, 465 00:25:19,920 --> 00:25:24,160 Speaker 1: serving just eleven months. Memphis Mayor Jim Strickland was outraged 466 00:25:24,280 --> 00:25:28,199 Speaker 1: and blamed a lenient judicial system because I'm tired of 467 00:25:28,240 --> 00:25:31,679 Speaker 1: our police officers arresting the same people over and over 468 00:25:31,840 --> 00:25:36,520 Speaker 1: and over, and those people committing violent acts. The shooting 469 00:25:36,560 --> 00:25:38,960 Speaker 1: comes the same week Memphis police found the body of 470 00:25:38,960 --> 00:25:42,440 Speaker 1: a missing teacher at lines of Flincher. The second suspect 471 00:25:42,520 --> 00:25:45,960 Speaker 1: wanted in the Stammic rampage in Canada has died. Miles 472 00:25:45,960 --> 00:25:49,200 Speaker 1: Sanderson was taken into custody yesterday. Police say he went 473 00:25:49,240 --> 00:25:53,040 Speaker 1: into medical distress shortly thereafter and died. Miles and his 474 00:25:53,080 --> 00:25:56,360 Speaker 1: brother Damien, had been on the run in Saskatchewan since Sunday, 475 00:25:56,480 --> 00:26:00,840 Speaker 1: accused of stabbing killed ten people at leapt ninety others injured. 476 00:26:01,080 --> 00:26:03,320 Speaker 1: Damien was found dead in a field near the stabbing 477 00:26:03,440 --> 00:26:06,560 Speaker 1: sites on Monday, Global News twenty four hours a day 478 00:26:06,560 --> 00:26:09,240 Speaker 1: on air, Anna Bloomberg Quick Take. We're powered by more 479 00:26:09,280 --> 00:26:12,119 Speaker 1: than hundred journalists and analysts and more than one d 480 00:26:12,240 --> 00:26:15,600 Speaker 1: twenty countries. I'm John Tucker. This is Bloomberg, Nathan John. 481 00:26:15,680 --> 00:26:22,400 Speaker 1: Thank you. Cone up to six thirty six on Wall 482 00:26:22,400 --> 00:26:24,880 Speaker 1: Street got John Stash are here at Bloomberg Sports update. 483 00:26:24,960 --> 00:26:27,680 Speaker 1: All right, AI, when the Yankees are slumping and banged up, 484 00:26:27,680 --> 00:26:30,360 Speaker 1: bring on the Minnesota Twins, the team the Yanks always 485 00:26:30,400 --> 00:26:33,000 Speaker 1: dominating the Yanks with a doubleheader sweep. Go for a 486 00:26:33,000 --> 00:26:35,199 Speaker 1: four game series sweep tonight. That doing it with a 487 00:26:35,240 --> 00:26:37,560 Speaker 1: lineup that had five guys who've spent most of the 488 00:26:37,560 --> 00:26:40,679 Speaker 1: season in Scranton, and yet Yanks won a wild opener 489 00:26:40,760 --> 00:26:43,280 Speaker 1: five to four. They scored twice in the twelfth inning 490 00:26:43,320 --> 00:26:46,480 Speaker 1: as Waldo Carbrero the walk off, it ending in over 491 00:26:46,680 --> 00:26:49,920 Speaker 1: twenty five slump earlier in Aaron Judge o'mbron his fifty 492 00:26:50,040 --> 00:26:53,680 Speaker 1: five second Wilson Yankee history, moving past Mickey Mantel and 493 00:26:53,720 --> 00:26:56,359 Speaker 1: Alex Rodriguez and now trailing only Roger and Marrith. The 494 00:26:56,440 --> 00:26:59,720 Speaker 1: nightcap had a grand stand Ford Isaiah kinder Felpon Aaron 495 00:26:59,800 --> 00:27:02,200 Speaker 1: Hicks struggled so mightily with a three run double in 496 00:27:02,240 --> 00:27:04,439 Speaker 1: the Yanks one seven to one. Mets also had a 497 00:27:04,440 --> 00:27:07,440 Speaker 1: double letter sweep in Pittsburgh, first five to one and 498 00:27:07,480 --> 00:27:09,720 Speaker 1: then ten to nothing, so they're a half game ahead 499 00:27:09,720 --> 00:27:12,320 Speaker 1: of Atlanta. Max Scherzer put on the injured list eight 500 00:27:12,359 --> 00:27:14,879 Speaker 1: east Side. The Hope Busy misses only one start, no 501 00:27:15,000 --> 00:27:17,119 Speaker 1: more than two so dawn of the final four at 502 00:27:17,119 --> 00:27:20,520 Speaker 1: the US Open Women's semifinals tonight, no Americans left as 503 00:27:20,600 --> 00:27:24,160 Speaker 1: Jess Cagoula lost last night to the top Seedgaciontech. There 504 00:27:24,280 --> 00:27:27,080 Speaker 1: is an American semifinalist on the men's side, first time 505 00:27:27,119 --> 00:27:30,480 Speaker 1: since Andy Roddick in two thousand and six. Francis Tiafa 506 00:27:30,640 --> 00:27:34,520 Speaker 1: one again and tomorrow Tiafa will face Carlos Alcarez. He 507 00:27:34,680 --> 00:27:38,000 Speaker 1: won his quarterfinal match with Yonic Center in five sets. 508 00:27:38,040 --> 00:27:41,360 Speaker 1: The match went five hours fifteen minutes. It ended at 509 00:27:41,400 --> 00:27:45,719 Speaker 1: two fifty am. Alcarez had won his previous match at 510 00:27:45,720 --> 00:27:48,600 Speaker 1: two twenty three am. Rams and Bills kicked off the 511 00:27:48,680 --> 00:27:51,400 Speaker 1: NFL season tonight in l A. Jets made official Joe 512 00:27:51,440 --> 00:27:53,840 Speaker 1: Flacco will be the starting quarterback Sunday AA's Baltimore. Zack 513 00:27:53,920 --> 00:27:56,600 Speaker 1: Wilson not ready to return from his knee injury, pack 514 00:27:56,680 --> 00:27:59,600 Speaker 1: he might miss the first three games. Tom Stash Allard 515 00:27:59,600 --> 00:28:02,680 Speaker 1: Bloomberg Court All right, John, thank you the six thirty 516 00:28:02,720 --> 00:28:04,280 Speaker 1: seven on Wall Street. Time to take a look at 517 00:28:04,320 --> 00:28:06,439 Speaker 1: stock some of the names moving in the pre market. 518 00:28:06,440 --> 00:28:09,840 Speaker 1: If you're still bleary eyed from that early morning US 519 00:28:09,920 --> 00:28:12,760 Speaker 1: Open match, you'll be glad to know Bloomberg Radio on 520 00:28:12,760 --> 00:28:16,840 Speaker 1: TV markets correspondent Crety bright eyed, are gonna tell us 521 00:28:16,880 --> 00:28:19,359 Speaker 1: what's happening under the hood in this little changed market 522 00:28:19,400 --> 00:28:21,920 Speaker 1: before we get that ECB decision creating. Yeah, lucky for everyone. 523 00:28:21,920 --> 00:28:23,200 Speaker 1: I did not say I have to watch the US 524 00:28:23,240 --> 00:28:25,720 Speaker 1: Open match. I think I missed a big one. We 525 00:28:25,880 --> 00:28:28,280 Speaker 1: gotta keep an eye on game stop speaking of big 526 00:28:28,320 --> 00:28:30,840 Speaker 1: things to watch here. It is soaring up about nine 527 00:28:31,200 --> 00:28:33,880 Speaker 1: the pre market. It's coming off a partnership with guests 528 00:28:33,920 --> 00:28:37,800 Speaker 1: this Nathan a cryptocurrency exchange f t X on the 529 00:28:37,880 --> 00:28:40,120 Speaker 1: same day, by the way, that they did announce their 530 00:28:40,120 --> 00:28:42,200 Speaker 1: earnings as well as let's talk about the earnings picture first, 531 00:28:42,200 --> 00:28:44,960 Speaker 1: the gaming company reporting net sales for the second quarter 532 00:28:45,000 --> 00:28:48,520 Speaker 1: that did ultimately miss estimates. Analysts still skeptical, but it 533 00:28:48,640 --> 00:28:50,560 Speaker 1: was that partnership with f t X, which of course 534 00:28:50,560 --> 00:28:51,960 Speaker 1: we know has seen quite a bit of success in 535 00:28:51,960 --> 00:28:54,920 Speaker 1: the crypto space, that's really boosting the shares here. Getting 536 00:28:54,960 --> 00:28:57,600 Speaker 1: at some positive reviews on on it from the from 537 00:28:57,600 --> 00:29:00,520 Speaker 1: the analysts base Off saying that while of Stoff has 538 00:29:00,520 --> 00:29:03,479 Speaker 1: a passionate shareholder, base FTX could add to it. So 539 00:29:03,520 --> 00:29:06,200 Speaker 1: that is some good news for GameStop despite the fact 540 00:29:06,760 --> 00:29:10,520 Speaker 1: that you don't really have um a positive cattles for 541 00:29:10,560 --> 00:29:12,280 Speaker 1: GameStop when it comes to the earnings front. I should 542 00:29:12,280 --> 00:29:14,400 Speaker 1: also mention that this is when it comes to the 543 00:29:14,480 --> 00:29:16,960 Speaker 1: ft X partnership. This is really in the efforts to 544 00:29:17,040 --> 00:29:19,160 Speaker 1: boost the n f T s uh. This is something 545 00:29:19,160 --> 00:29:21,840 Speaker 1: that you're seeing a lot of gaming companies really look 546 00:29:21,920 --> 00:29:24,320 Speaker 1: to do, and with this partnership, FTX gives game Stop 547 00:29:24,440 --> 00:29:29,360 Speaker 1: um quite the boost. Well, you know, if AMC Entertainment 548 00:29:29,360 --> 00:29:31,440 Speaker 1: can invest in a gold mine, why not have a 549 00:29:31,440 --> 00:29:34,040 Speaker 1: crypto partnership with games Stop? What else you look in 550 00:29:34,080 --> 00:29:36,080 Speaker 1: at Cree, Well, it's look at American Eagle Outfitters. We 551 00:29:36,120 --> 00:29:40,240 Speaker 1: know the retail story has continued across the sector, target, Walmart, Nords, 552 00:29:40,280 --> 00:29:43,120 Speaker 1: from even Macy's. Well, American Eagle is no exception. They're 553 00:29:43,160 --> 00:29:45,719 Speaker 1: down about fifteen percent in the pre market ward, down 554 00:29:45,760 --> 00:29:48,120 Speaker 1: as much as sixteen percent earlier in the session. They 555 00:29:48,160 --> 00:29:50,360 Speaker 1: reported results as well. Some of these earning stories still 556 00:29:50,360 --> 00:29:53,320 Speaker 1: trickling in as you can tell, Nathan, but their reported 557 00:29:53,400 --> 00:29:56,040 Speaker 1: results that city group and was described as quote rough. 558 00:29:56,240 --> 00:29:59,440 Speaker 1: They also pausitive quarterly cash dividend. Nathan. That is probably 559 00:29:59,800 --> 00:30:02,680 Speaker 1: the worst thing you can do beyond not giving guidance 560 00:30:02,720 --> 00:30:05,520 Speaker 1: and essentially just pausing that dividend at a time when 561 00:30:05,560 --> 00:30:08,840 Speaker 1: a lot of companies, especially American Eagle, has actually been 562 00:30:08,920 --> 00:30:11,240 Speaker 1: using that dividend to attract investors. It's something that you've 563 00:30:11,280 --> 00:30:13,920 Speaker 1: seen in the financial space. Is something you've seen, argument 564 00:30:14,000 --> 00:30:16,000 Speaker 1: in tech space as well, argument even in the oil 565 00:30:16,040 --> 00:30:19,240 Speaker 1: space actually boosting their dividend. Retailers not so much. So 566 00:30:19,320 --> 00:30:22,200 Speaker 1: not so great news for American Eagle. A EO is 567 00:30:22,200 --> 00:30:24,479 Speaker 1: your taker down about fifteen percent. I'm gonna end here. 568 00:30:24,680 --> 00:30:27,560 Speaker 1: Nathan with Maderna Shares m r n A is your 569 00:30:27,600 --> 00:30:30,360 Speaker 1: taker up one point seven percent in the pre market. 570 00:30:30,960 --> 00:30:32,840 Speaker 1: It was higher about three percent earlier in the session, 571 00:30:32,920 --> 00:30:34,920 Speaker 1: So some of those games getting paired. This comes after 572 00:30:34,920 --> 00:30:37,280 Speaker 1: Deutsche Brank upgraded the stock to a buy from a 573 00:30:37,360 --> 00:30:41,400 Speaker 1: hold after a solid second quarter earnings beat and welcome 574 00:30:41,520 --> 00:30:44,800 Speaker 1: late July news of additional fall orders coming out of 575 00:30:44,840 --> 00:30:48,120 Speaker 1: the United States. So some good news on the vaccination front. Yeah, 576 00:30:48,120 --> 00:30:51,640 Speaker 1: the healthcare space certainly doing well in this environment. Thanks 577 00:30:51,640 --> 00:30:53,360 Speaker 1: for this, Creaty, good as always to have you with us. 578 00:30:53,360 --> 00:30:57,200 Speaker 1: Spoonboard Radio TV Markets correspondent Credy Goofta looking ahead to 579 00:30:57,200 --> 00:31:01,320 Speaker 1: the market open stocks as a whole little changed, waiting 580 00:31:01,360 --> 00:31:04,680 Speaker 1: for the ECB to come down with its decision. Got 581 00:31:04,720 --> 00:31:07,160 Speaker 1: SMP futures right now up a point, foul future is 582 00:31:07,200 --> 00:31:10,520 Speaker 1: up twenty two nastack futures up three points. Tend your 583 00:31:10,520 --> 00:31:13,280 Speaker 1: treasury is up six thirty seconds the now three point 584 00:31:13,320 --> 00:31:17,040 Speaker 1: to four, and you are listening to Bloomberg day Break 585 00:31:22,400 --> 00:31:24,560 Speaker 1: Bloomberg eleven three oh weather turning mostly sunny with a 586 00:31:24,640 --> 00:31:26,840 Speaker 1: hind your eight today. We'll get into the low eighties 587 00:31:26,880 --> 00:31:30,400 Speaker 1: tomorrow with sunshine, sunny, low eighties for Saturday, calling it 588 00:31:30,480 --> 00:31:33,240 Speaker 1: partly sunny, in low eighties for Sunday. Right now sixty 589 00:31:33,320 --> 00:31:39,760 Speaker 1: five in Central Park Markets. Headlines and breaking news twenty 590 00:31:39,760 --> 00:31:42,600 Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg 591 00:31:42,640 --> 00:31:46,200 Speaker 1: Business at and at Bloomberg Quick Tape. He's a Bloomberg 592 00:31:46,280 --> 00:31:55,320 Speaker 1: Business Flash and I'm Karen Moscow. Future is that will change? 593 00:31:55,360 --> 00:31:57,120 Speaker 1: This morning? We got to the first word breaking news 594 00:31:57,240 --> 00:32:00,000 Speaker 1: dance for today's morning call, and here's Bill Malone Navy 595 00:32:00,000 --> 00:32:03,240 Speaker 1: A good morning and good morning Karen. Modest gains in 596 00:32:03,280 --> 00:32:05,720 Speaker 1: the US futures right now down, futures up forty eight points, 597 00:32:05,760 --> 00:32:08,080 Speaker 1: sup S Game five one NEZ that features her up 598 00:32:08,320 --> 00:32:11,400 Speaker 1: by fifteen the US ten year at three point to 599 00:32:11,560 --> 00:32:14,320 Speaker 1: four percent, gold is up, for oil is trading lower, 600 00:32:14,560 --> 00:32:17,280 Speaker 1: and big coin is down by half a percent. Japan 601 00:32:17,360 --> 00:32:19,800 Speaker 1: rose two point three percent overnight, while Europan markets are 602 00:32:19,800 --> 00:32:22,400 Speaker 1: trading mixed this morning. And back in the US on 603 00:32:22,440 --> 00:32:25,880 Speaker 1: the economic front and a thirty initial jobless claims. After 604 00:32:25,920 --> 00:32:29,200 Speaker 1: the Bellas Night game Stuff announced a partnership with cryptocurrency 605 00:32:29,200 --> 00:32:32,280 Speaker 1: exchange f t X, and in other news, Goldman Sachs 606 00:32:32,480 --> 00:32:35,440 Speaker 1: raised its forecast for heights to semi five basis points 607 00:32:35,440 --> 00:32:39,640 Speaker 1: this month and fifty basis points in November. Wrapping things up, 608 00:32:39,680 --> 00:32:42,400 Speaker 1: Moderna was raised by a DEEUTSJAMCA and over a Goldman Sacks. 609 00:32:42,440 --> 00:32:46,440 Speaker 1: Canadian solo was cut to sell for Solar raised to buy. 610 00:32:46,720 --> 00:32:49,120 Speaker 1: Live from the First Breaking News Desk on Bill Maloney, 611 00:32:49,160 --> 00:32:51,440 Speaker 1: Karen all right, Bill, thank you to hear live breaking 612 00:32:51,440 --> 00:32:53,680 Speaker 1: news over her Bloomberg type squawk on your term and 613 00:32:53,720 --> 00:32:56,080 Speaker 1: I'll ask you a w u K. That's a Bloomberg 614 00:32:56,120 --> 00:32:58,640 Speaker 1: business flash. Now here's John Tucker with more on what's 615 00:32:58,640 --> 00:33:01,560 Speaker 1: going on around the world. John and Karen. Secretary State 616 00:33:01,600 --> 00:33:05,040 Speaker 1: Anthony B. Lincoln has made an un announced visit to Ukraine. 617 00:33:05,080 --> 00:33:08,760 Speaker 1: In the show support the Pentagon meantime has quietly sent 618 00:33:08,880 --> 00:33:12,720 Speaker 1: Ukraine it's most accurate artillery show, and Memphis police say 619 00:33:12,760 --> 00:33:15,720 Speaker 1: four our den after a teenager shooting spree that was 620 00:33:15,800 --> 00:33:19,800 Speaker 1: streamed live on Facebook Sports. Yankees beat the Twins in 621 00:33:19,880 --> 00:33:22,960 Speaker 1: both games of a double header. Matt's also winners, beating 622 00:33:22,960 --> 00:33:26,120 Speaker 1: the Pirates in both games of their double header. The 623 00:33:26,200 --> 00:33:29,040 Speaker 1: A's lost to the Braves, Giants lost to the Dodgers, 624 00:33:29,040 --> 00:33:31,880 Speaker 1: the Red Sox lost to the Rays, Orioles lose to 625 00:33:31,920 --> 00:33:34,840 Speaker 1: the Blue Jays, and the Nationals lose to the Cardinals. 626 00:33:35,320 --> 00:33:38,000 Speaker 1: And of course, the NFL season kicks off tonight with 627 00:33:38,080 --> 00:33:40,920 Speaker 1: the Bills heading to Los Angeles to take on the 628 00:33:41,000 --> 00:33:44,360 Speaker 1: Super Bowl champion. Rams Global News twenty four hours a 629 00:33:44,440 --> 00:33:47,440 Speaker 1: day on air and on Bloomberg Quicktake power by more 630 00:33:47,440 --> 00:33:50,640 Speaker 1: than twenty seven hundred journalists and analysts in more than 631 00:33:50,720 --> 00:33:54,280 Speaker 1: one d twenty countries on John Tucker and This is Bloomberg, 632 00:33:54,360 --> 00:33:57,200 Speaker 1: Karen Great, John, thank you. At six nine on Wall 633 00:33:57,240 --> 00:34:00,120 Speaker 1: Street returned to news and science and Technology Now with 634 00:34:00,160 --> 00:34:03,320 Speaker 1: the Bloomberg and j I. T. Stem Report, brought to 635 00:34:03,400 --> 00:34:07,000 Speaker 1: you by New Jersey Institute of Technology Tech LIMB and J. I. T. 636 00:34:07,160 --> 00:34:09,920 Speaker 1: S ninth President is committed to strengthening and growing n 637 00:34:10,000 --> 00:34:13,359 Speaker 1: j I T S industry partnerships to improve student opportunities 638 00:34:13,400 --> 00:34:15,920 Speaker 1: and outcomes. Learn more at n j I T DOT, 639 00:34:15,920 --> 00:34:19,680 Speaker 1: E d U and Here's US Making News and Science, Technology, engineering, 640 00:34:19,760 --> 00:34:23,640 Speaker 1: and math. Depression, anxiety, worries about the pandemic, and other 641 00:34:23,760 --> 00:34:27,560 Speaker 1: sources of distress prior to getting COVID nineteen they increase 642 00:34:27,600 --> 00:34:31,480 Speaker 1: the chance of developing persistent long haul symptoms, according to 643 00:34:31,600 --> 00:34:34,920 Speaker 1: a recent Harvard University study. To study found those who 644 00:34:34,960 --> 00:34:38,000 Speaker 1: experience two or more types of distress before their infection 645 00:34:38,280 --> 00:34:42,279 Speaker 1: had almost a fifty percent greater risk of self reported 646 00:34:42,320 --> 00:34:47,600 Speaker 1: impairment lasting four weeks or more. Providers of internet connected technology, 647 00:34:47,640 --> 00:34:50,400 Speaker 1: from Apple, I phone software to baby monitors will have 648 00:34:50,520 --> 00:34:53,880 Speaker 1: to meet new cyber security requirements in the EU or 649 00:34:54,040 --> 00:34:57,280 Speaker 1: face fines and possibly have the product taken off the market, 650 00:34:57,320 --> 00:35:00,760 Speaker 1: according to a draft proposal seen by Bloomberg, new rules 651 00:35:00,800 --> 00:35:04,040 Speaker 1: called the Cyber Resilience Acts, said to become public next week, 652 00:35:04,280 --> 00:35:08,400 Speaker 1: are aimed at improving the security of devices and In 653 00:35:08,440 --> 00:35:11,120 Speaker 1: addition to the iPhone fourteen, Apple unveiled a new line 654 00:35:11,120 --> 00:35:14,839 Speaker 1: of smart watches that includes Ultra aimed at hikers, long 655 00:35:14,840 --> 00:35:18,520 Speaker 1: distance runners, and serious athletes. The device has a larger screen, 656 00:35:18,560 --> 00:35:22,799 Speaker 1: bigger battery, and adds body temperature tracking, crash detection and 657 00:35:23,040 --> 00:35:26,360 Speaker 1: the new lower power mode and mess of Bloomberg and 658 00:35:26,480 --> 00:35:29,440 Speaker 1: j I t Stem report Nathan, Thank you, Karen. We 659 00:35:29,480 --> 00:35:32,480 Speaker 1: are live from the Bloomberg Interactive Broker Studios where it 660 00:35:32,600 --> 00:35:35,120 Speaker 1: is almost six fifty one on Wall Street Time Now 661 00:35:35,200 --> 00:35:37,360 Speaker 1: to check what's going on in d C, where some 662 00:35:37,400 --> 00:35:40,600 Speaker 1: of the top stories include some breaking news. As John mentioned, 663 00:35:40,640 --> 00:35:43,600 Speaker 1: Secretary of State Anthony B. Lincoln has arrived in Kiev 664 00:35:43,719 --> 00:35:47,040 Speaker 1: in an unannounced show of support for Ukraine. President Biden 665 00:35:47,040 --> 00:35:49,319 Speaker 1: said to host a call this morning with allies on 666 00:35:49,560 --> 00:35:54,360 Speaker 1: countering Russia, President delaying a decision on Trump era China tariffs, 667 00:35:54,719 --> 00:35:58,680 Speaker 1: and Republicans on defense. As the dream of a congressional 668 00:35:58,760 --> 00:36:02,160 Speaker 1: red wave appears to fade, Let's bring back Bloomberg Government 669 00:36:02,160 --> 00:36:05,120 Speaker 1: Congression reporter Jack Fitzpatrick for more on some of these stories, 670 00:36:05,160 --> 00:36:08,960 Speaker 1: including when we're learning now, Jack, Secretary of State Blinkin 671 00:36:09,600 --> 00:36:12,520 Speaker 1: is in Kiev. What are we hearing? Yeah, he he 672 00:36:12,719 --> 00:36:16,799 Speaker 1: is there. It is his third trip to Ukraine since 673 00:36:16,840 --> 00:36:21,000 Speaker 1: the beginning of the war. Another example of the Biden 674 00:36:21,040 --> 00:36:27,520 Speaker 1: administration trying to uh somewhat frequently, UH show I guess 675 00:36:27,560 --> 00:36:31,680 Speaker 1: support for Ukraine. He didn't go uh with you know, 676 00:36:31,960 --> 00:36:34,839 Speaker 1: a series of international negotiations or anything like that. There 677 00:36:34,920 --> 00:36:38,200 Speaker 1: was some news right around the time he got there 678 00:36:38,640 --> 00:36:40,960 Speaker 1: that the US is planning to provide another two billion 679 00:36:41,000 --> 00:36:46,080 Speaker 1: dollars in UH in more military aid to Ukraine. Uh. 680 00:36:46,280 --> 00:36:49,080 Speaker 1: It's not a change in US policy, but it's an 681 00:36:49,080 --> 00:36:52,640 Speaker 1: example of the Biden administration trying to it seems, UH 682 00:36:52,719 --> 00:36:57,360 Speaker 1: somewhat frequently reiterate support for Ukraine. And of course you 683 00:36:57,400 --> 00:37:01,840 Speaker 1: see that the timing with President Biden holding a video 684 00:37:01,920 --> 00:37:04,719 Speaker 1: call with a group of a Group of seven and 685 00:37:04,800 --> 00:37:08,160 Speaker 1: other European leaders to discuss Ukraine as well. Yeah, it's 686 00:37:08,280 --> 00:37:10,600 Speaker 1: very interesting to see this sort of ramp up of 687 00:37:10,640 --> 00:37:13,919 Speaker 1: attention on Ukraine as the war is now heading into 688 00:37:13,920 --> 00:37:17,640 Speaker 1: its seventh month and into a winter where Europe the 689 00:37:17,680 --> 00:37:21,600 Speaker 1: allies of the US UH could be facing a pretty 690 00:37:21,640 --> 00:37:27,040 Speaker 1: significant energy crunch really sparked by the war. Yeah, that 691 00:37:27,160 --> 00:37:31,080 Speaker 1: is a key concern for the Biden administration. Uh. It's 692 00:37:31,080 --> 00:37:35,120 Speaker 1: not something at least at this point, that has fundamentally 693 00:37:35,239 --> 00:37:39,040 Speaker 1: changed the US is UH political outlook or or the 694 00:37:39,120 --> 00:37:43,520 Speaker 1: US's stance on aid for Ukraine. Uh. You know, there's 695 00:37:43,600 --> 00:37:46,600 Speaker 1: really a lot of bipartisan support for continuing to do 696 00:37:46,960 --> 00:37:51,000 Speaker 1: whatever is possible uh to help Ukraine uh and not 697 00:37:51,200 --> 00:37:55,400 Speaker 1: back down to Russia. But there's concern that in Europe, 698 00:37:55,520 --> 00:38:00,000 Speaker 1: especially if we head into a cold winter, Uh, it's 699 00:38:00,080 --> 00:38:04,000 Speaker 1: hard to predict exactly how high energy prices will go. Um. 700 00:38:04,120 --> 00:38:06,520 Speaker 1: That is the kind of thing that can undermine the 701 00:38:06,800 --> 00:38:12,160 Speaker 1: political willpower behind international support for Ukraine. So it's not 702 00:38:12,320 --> 00:38:15,680 Speaker 1: something that has shaken the foundations of support for Ukraine 703 00:38:15,680 --> 00:38:18,239 Speaker 1: at this point, but it's a major concern from the 704 00:38:18,320 --> 00:38:22,200 Speaker 1: U S's perspective as they try to rally as many 705 00:38:22,239 --> 00:38:26,160 Speaker 1: countries as possible around Ukraine as possible heading into the winter, 706 00:38:26,239 --> 00:38:29,840 Speaker 1: because that's the one of the factors that could undermine 707 00:38:29,880 --> 00:38:33,839 Speaker 1: political support and another geopolitical flash point. Jack, we're hearing 708 00:38:33,880 --> 00:38:36,839 Speaker 1: President Biden. Uh, well, I guess we're continuing to hear 709 00:38:36,880 --> 00:38:38,960 Speaker 1: that he's putting off a decision on what to do 710 00:38:39,000 --> 00:38:42,440 Speaker 1: about tariffs on Chinese imports. Can give us the lightest 711 00:38:42,440 --> 00:38:45,359 Speaker 1: on his thinking, Yeah, so it's it's not happening at 712 00:38:45,400 --> 00:38:48,000 Speaker 1: this point. The decision is going to be bumped back. 713 00:38:48,440 --> 00:38:51,160 Speaker 1: They haven't said exactly how long, but a couple of 714 00:38:51,160 --> 00:38:54,120 Speaker 1: things on the calendar to keep in mind, Uh, that 715 00:38:54,120 --> 00:39:01,080 Speaker 1: that could create some political unpredictability. One, there's the Chinese 716 00:39:01,200 --> 00:39:06,240 Speaker 1: Leadership Congress in October. It may be wise to push 717 00:39:06,280 --> 00:39:10,720 Speaker 1: this decision back beyond that, and of course the US 718 00:39:10,960 --> 00:39:14,800 Speaker 1: mid terms in November. Any decision that would come across 719 00:39:15,239 --> 00:39:19,560 Speaker 1: as Biden being weak towards shijin Ping would be a 720 00:39:19,680 --> 00:39:22,919 Speaker 1: very tough one for Democrats to campaign on heading towards 721 00:39:22,920 --> 00:39:25,640 Speaker 1: the mid term. So it may be the case that 722 00:39:25,760 --> 00:39:29,120 Speaker 1: this is a politically dicey situation to the extent that 723 00:39:29,160 --> 00:39:32,680 Speaker 1: the Biden administration wants to bump it back past that. Uh. 724 00:39:32,719 --> 00:39:36,479 Speaker 1: They they have announced a review process that would allow 725 00:39:36,520 --> 00:39:41,040 Speaker 1: businesses to seek some relief and and give input on 726 00:39:41,520 --> 00:39:45,320 Speaker 1: which tariffs they think are costing jobs or competitiveness. But 727 00:39:45,440 --> 00:39:50,520 Speaker 1: as far as the broader decision about a wholesale removal 728 00:39:50,719 --> 00:39:53,920 Speaker 1: or scaling back of the Trump era tariffs, that appears 729 00:39:53,960 --> 00:39:56,959 Speaker 1: to not be something that will happen very soon. Since 730 00:39:57,000 --> 00:39:59,919 Speaker 1: you mentioned the mid terms, jack carry are exactly two 731 00:40:00,040 --> 00:40:04,200 Speaker 1: months away from election day in November. How are things 732 00:40:04,239 --> 00:40:08,239 Speaker 1: shaping up right now? It is looking closer now than 733 00:40:08,280 --> 00:40:11,000 Speaker 1: it was a couple of months ago. Uh, there have 734 00:40:11,080 --> 00:40:16,439 Speaker 1: been some high profile UH speed bumps for Republicans. It's 735 00:40:16,440 --> 00:40:20,440 Speaker 1: still an issue where you know, Republicans have a pretty 736 00:40:20,480 --> 00:40:23,960 Speaker 1: clear advantage in the House races. UH. In a mid 737 00:40:24,120 --> 00:40:26,880 Speaker 1: term like this, you would expect the minority party to 738 00:40:26,920 --> 00:40:29,279 Speaker 1: pick up seats. They they only need to pick up 739 00:40:29,360 --> 00:40:33,080 Speaker 1: a limited number. Democrats have a five seat advantage at 740 00:40:33,080 --> 00:40:35,759 Speaker 1: this point. The projections, you know, the latest from the 741 00:40:35,760 --> 00:40:39,839 Speaker 1: Cook Political Report is Republicans could pick up ten to twenty. 742 00:40:39,880 --> 00:40:43,239 Speaker 1: That would be less than you previously would have expected. UH. 743 00:40:43,280 --> 00:40:47,800 Speaker 1: The Senate is UH, is is very tough to predict. 744 00:40:47,880 --> 00:40:51,960 Speaker 1: There are some key Senate races where the polls lately 745 00:40:51,960 --> 00:40:55,439 Speaker 1: have looked pretty good for Democrats. Democrats have a significant 746 00:40:55,520 --> 00:41:00,000 Speaker 1: fundraising advantage in generally across the board and the major 747 00:41:00,000 --> 00:41:05,399 Speaker 1: your competitive Senate races. UH. Mitch McConnell had acknowledged that 748 00:41:05,719 --> 00:41:09,880 Speaker 1: candidate quality was an issue. You've seen people like moment 749 00:41:09,960 --> 00:41:13,680 Speaker 1: Oz in Pennsylvania, Blake Masters in Arizona struggle to raise 750 00:41:13,719 --> 00:41:17,600 Speaker 1: as much money as their opponents. UH. Some of the 751 00:41:17,640 --> 00:41:21,799 Speaker 1: Trump backed primary winners on the Republican side have had 752 00:41:22,680 --> 00:41:26,080 Speaker 1: I guess a slow start campaigning in the general election 753 00:41:26,120 --> 00:41:29,240 Speaker 1: and not great polling news uh it is still something 754 00:41:29,280 --> 00:41:32,759 Speaker 1: where you know, you would expect Republicans to likely win 755 00:41:33,239 --> 00:41:36,399 Speaker 1: at least one of the two chambers, but it's the 756 00:41:36,400 --> 00:41:39,560 Speaker 1: the expectations have come back down to earth on the 757 00:41:39,560 --> 00:41:42,840 Speaker 1: Republican side. Thanks for this, Jack will continue following the 758 00:41:42,880 --> 00:41:45,240 Speaker 1: run up to the mid terms. Of course, Bloomberg Government 759 00:41:45,239 --> 00:41:49,759 Speaker 1: Congressional reporter Jack Fitzpatrick joining us from our Bloomberg studios 760 00:41:50,040 --> 00:41:52,440 Speaker 1: in the nation's capital. You can read more about all 761 00:41:52,520 --> 00:41:55,480 Speaker 1: these stories on Bloomberg dot com or on the Bloomberg terminal, 762 00:41:55,680 --> 00:41:57,560 Speaker 1: and if you're in Washington, you can listen to Bloomberg 763 00:41:57,640 --> 00:42:01,680 Speaker 1: Radio on Bloomberg and one oh five point seven FM 764 00:42:01,840 --> 00:42:05,040 Speaker 1: HD two some red headlines crossing the Bloomberg Terminal. The 765 00:42:05,120 --> 00:42:08,720 Speaker 1: UK's new Prime Minister, Liz Trust is unveiling her plan 766 00:42:08,840 --> 00:42:12,640 Speaker 1: to help households and businesses deal with storing energy prices. 767 00:42:12,960 --> 00:42:15,960 Speaker 1: UK is limiting the typical price of household energy to 768 00:42:16,040 --> 00:42:19,719 Speaker 1: twenty undred pounds a year. Uh. Trust expects the plan 769 00:42:19,800 --> 00:42:23,680 Speaker 1: to curb inflation by up to five percentage points in 770 00:42:23,719 --> 00:42:26,440 Speaker 1: the UK, and she also says the UK and the 771 00:42:26,480 --> 00:42:29,920 Speaker 1: Bank of England will help energy firms with liquidity needs. 772 00:42:30,360 --> 00:42:33,319 Speaker 1: All this out of an ECB decision. The futures are 773 00:42:33,440 --> 00:42:37,080 Speaker 1: starting to point higher just a bit. SMP futures up 774 00:42:37,320 --> 00:42:39,520 Speaker 1: five points right now. Down Future is up forty two. 775 00:42:39,719 --> 00:42:44,200 Speaker 1: NASTAC features up fourteen points. Bloomberg surveillance is straight ahead 776 00:42:44,560 --> 00:42:49,160 Speaker 1: for Karen Moscow. I'm Nathan Hagar, and this is Bloomberg