Speaker 1: Live from the Bloomberg Interacting Broker Studios. This is Bloomberg
Speaker 1: day Break for Friday, November eighteen two. Coming up this hour,
Speaker 1: a leadership change on Capitol Hill. Nancy Pelosi withdraws as
Speaker 1: Democratic leader. Stock Center this last day of the week,
Speaker 1: looking to reverse two days of losses. Elon Musk's ultimatum
Speaker 1: spur an exodus at Twitter and Amazon says job cuts
Speaker 1: could continue into next year. Buffalo, New York is getting
Speaker 1: slammed by a major snowstorm. Plus today, the US has
Speaker 1: condemned North Korea's latest weapons test. On Michael lar More AHLF,
Speaker 1: I'm John Stashnoward Sports, Aaron Judge named m v P.
Speaker 1: The Titans beat the Packers, the Nets and Devils won,
Speaker 1: the Rangers and Islanders law. That's all strain ahead on
Speaker 1: Bloomberg Daybreak on Bloomberg e Living freon New York, Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties,
Speaker 1: San Francisco, Sirius x M one nineteen and around the
Speaker 1: world on Bloomberg Radio dot Com and via the Bloomberg
Speaker 1: Business App. Good Friday Morning. I'm Amy Morris and I'm
Speaker 1: Nathan Hagar futures are pointed higher this morning. We're coming
Speaker 1: up to five oh one on Wall Street, and we
Speaker 1: check the markets every fifteen minutes during the trading day.
Speaker 1: On bloomberg SMP futures are up ten points, Staff futures
Speaker 1: up forty eight. Nastack futures are higher by thirty six points.
Speaker 1: The tenure treasury is down ten thirty seconds. The old
Speaker 1: three point eight zero percent yield on the two year
Speaker 1: four point four eight percent. The docks in Germany is
Speaker 1: up seven tenths per cent, the CACK and Paris up
Speaker 1: six tenths of one percent. Nim X screwed is up
Speaker 1: four tenths percent or thirty cents at eighty one cents
Speaker 1: of barrel. Comex gold up two tenths percent at ten
Speaker 1: announced and the euro one point zero three seven eight
Speaker 1: against the dollar. Amy Nathan, we beget in Washington, where
Speaker 1: reaction is still pouring into Nancy Pelosi stepping down his
Speaker 1: House Democratic leader. The move opens the way were a
Speaker 1: general generational change in leadership, Democrats now rallying behind Brooklyn
Speaker 1: native Actium Jefferies as their next leader. We spoke with
Speaker 1: former New York Congressman and Democratic Caucus Chair Joe Crowley
Speaker 1: about the shift. I think he will be cordial. I
Speaker 1: think he'll be professional. Um, they may not agree and
Speaker 1: may not even like each other, but I don't think
Speaker 1: it's gonna stop a team from doing what he thinks
Speaker 1: is the best interest of the American people. And I
Speaker 1: think that is paramount there. Former New York Congressman Toe
Speaker 1: Crowley spoke with Our Washington corresponded Joe Matthew on Bloomberg's
Speaker 1: sound on. You can catch the show weekday afternoons at
Speaker 1: five pm Wall Street Time on Bloomberg Radio. All right, Amy,
Speaker 1: Now let's talk markets. Stocks enter this final day of
Speaker 1: the week, coming off two days of losses. All Spring
Speaker 1: Global Investments head of Active Equity and Milletti says, we
Speaker 1: may be closing in on a bottom. If we're headed
Speaker 1: into recession, if we're headed into this environment at higher rates,
Speaker 1: higher inflation, how can really, you know, risk athics, meme stocks, cryptocurrency,
Speaker 1: things like that continue to be beater, go up or
Speaker 1: be stable. And the fact that we're finally seeing breakdowns
Speaker 1: in those markets is a welcoming sign. It means that
Speaker 1: we're getting closer to the you know, maybe to the
Speaker 1: bottoming period all spring global investments and we letting notes.
Speaker 1: The SNPs lowest level came just last month, with a
Speaker 1: reading just shy of now weighing on markets more hawkey
Speaker 1: is talk from the Fed. St. Louis Fed President James
Speaker 1: Bullard is saying interest rates should rise to at least
Speaker 1: five percent to curb inflation. The policy rates still isn't
Speaker 1: at a zone that might be considered sufficiently restrictive. To
Speaker 1: get to this sufficiently restrictive level of policy, will need
Speaker 1: to increase the policy rate further. St. Louis Fed President
Speaker 1: James Bullard does not appear to be alone in that assessment.
Speaker 1: Is tough talk being echoed by Minneapolis Fed President Neil
Speaker 1: Cash carry We're all united in our commitment to getting
Speaker 1: inflation back onto our two percent target. It's an open
Speaker 1: question of how far we're going to have to go
Speaker 1: with interest rates to bring that demand down into balance.
Speaker 1: We have raised interest rates a lot this year, so
Speaker 1: there's a lot of tightening in the pipeline. We have
Speaker 1: not felt the full effects yet, and yet inflation is
Speaker 1: still very high. Minneapolis Fed President Neil Cash Carrey says
Speaker 1: the full effect of rate hikes may not be felt
Speaker 1: for a year or more. All right, let's turn to
Speaker 1: corporate news now Amy, where the focus is back on
Speaker 1: Elon Musk, the self proclaimed chief twit is finding some
Speaker 1: of his ultimatums at Twitter are falling flat. That Baxter
Speaker 1: has the story from our Bloomberg nine sixty news room
Speaker 1: in San Francisco. The latest ultimate um to commit to
Speaker 1: the company's new hardcore work environment or leave the company.
Speaker 1: By the deadline to sign the agreement, hundreds of employees
Speaker 1: had refused, with many postings that now familiar salute, which
Speaker 1: is the sign that they are leaving the company. How
Speaker 1: this prompted must to change his work at home policy
Speaker 1: and leave it up to managers to ensure the company
Speaker 1: that the workers are making an exce contribution. The question remains, though,
Speaker 1: how many employees either will remain or will return, whether
Speaker 1: there'll be enough to service a system in San Francisco.
Speaker 1: I'm at Baxter Bloomberg Gay break all right, thank you,
Speaker 1: Ed and wild. Musk is cutting staff in the U
Speaker 1: as it may be a different picture overseas. The e
Speaker 1: USE Internal Market Commissioner says Musk will have to increase
Speaker 1: the number of Twitter moderators in Europe. He also wants
Speaker 1: Musk to share Twitter's algorithms. Terry Brayton made those comments
Speaker 1: in an interview with France Info. Well maybe the painted
Speaker 1: Amazon may not end any time soon. CEO Andy Jesse
Speaker 1: says the e commerce giant will be cutting jobs into
Speaker 1: next year as it adjusts to business conditions. We get
Speaker 1: that story from Bloomberg's Charlie Pellett. These represent his first
Speaker 1: public comments about the cost reduction plans roiling Amazon since
Speaker 1: reports that are planned to wipe out about ten thousand jobs.
Speaker 1: In a statement, Jesse said, quote leaders across the company
Speaker 1: are working with their teams and looking at their workforce levels,
Speaker 1: investment they want to make in the future, and prioritizing
Speaker 1: what matters most to customers and the long term health
Speaker 1: of our businesses. Some employees posting the company message boards
Speaker 1: have been critical of Jesse being silent this week since
Speaker 1: news of the job cuts became public in New York.
Speaker 1: Charlie pet Bloomberg Daybreak. All right, thank you, Charlie. Taking
Speaker 1: a look at some stocks on the move this morning.
Speaker 1: Shares of applied Materials are up four percent. The ship
Speaker 1: equipment maker gave a sales forecast that beat estimates. Thanks
Speaker 1: to supply chain improvements. Shares of Gap are up almost
Speaker 1: eight percent comparable sales for the third quarter, top to
Speaker 1: estimates at Gap and another retailer, Ross Stores, is up
Speaker 1: sixteen percent. That's after boosting its full year forecast and
Speaker 1: despite of the termoil from f t X. Amy bitcoins
Speaker 1: heading for a weekly game. The tokens up about three
Speaker 1: percent this week, while engage of the leading hundred virtual
Speaker 1: coins has added about one percent. That's a sharp contrast
Speaker 1: to last week, when Bitcoin slid twenty three percent as
Speaker 1: st Sam Bankman Freed's ft X empire collapsed. Checking Bitcoin
Speaker 1: right now, it's up four percent at sixte SMP futures
Speaker 1: are up nine points, STOUT futures up, NASAC Future is
Speaker 1: up thirty five, the tenure Treasury down ten thirty seconds,
Speaker 1: the yield three point eight zero percent. Local headlines in
Speaker 1: a check of sports. Next to this is Bloomberg. Thank you, Nathan.
Speaker 1: It is five oh seven on Wall Street. Let's bring
Speaker 1: in Michael bar with more on what else is going
Speaker 1: on in New York and around the world. Good morning, Michael,
Speaker 1: Good morning Amy. Lake effects Snow is burying parts of
Speaker 1: the midwest and northeast. In western New York. A driving
Speaker 1: van is in effect for all of Erie County, home
Speaker 1: to nearly one million people. This is considered an extreme event,
Speaker 1: an extreme weather event that means it's dangerous. It also
Speaker 1: means it's life threatening. New York Governor Kathy Oakele says
Speaker 1: at least three ft of snow is forecast by the
Speaker 1: end of the weekend. The word has been out nationally
Speaker 1: statewide locally to all the commercial truck drivers. You need
Speaker 1: to stay off the New York State through A and
Speaker 1: the other roads to be identified during the storm event
Speaker 1: for your protection but also the protection of other motors
Speaker 1: on the road. Governor Hokel in November of a lake
Speaker 1: effect system dumped more than five feet of snow on
Speaker 1: western New York had left thirteen people dead. New York
Speaker 1: Governor Hokel announced that construction of a new terminal at
Speaker 1: JFK Airport would begin early next year, following a pause
Speaker 1: and the project due to the pandemic. According to a
Speaker 1: statement from Hocal's office, the new terminal, Terminal six, is
Speaker 1: a privately financed development that is expected to cost around
Speaker 1: four point two billion dollars. The first phase is expected
Speaker 1: to be done by six New Jersey Governor Phil Murphy
Speaker 1: and his wife paid one point seventy nine million dollars
Speaker 1: in state and federal taxes in one according to a
Speaker 1: tax return summary released by his office. The Democratic governor
Speaker 1: also donated almost seven hundred thousand dollars. The couple reported
Speaker 1: federal taxable income of almost five million dollars. Murphy is
Speaker 1: a retired senior director at Goldman Sex. North Korea has
Speaker 1: fired an intercontinental ballistic missile that landed near Japanese waters,
Speaker 1: in the second major weapons test this month that showed
Speaker 1: the potential ability to launch nuclear strikes on all of
Speaker 1: the US mainland. The U s quickly slammed the launch
Speaker 1: and vowed to take all necessary measures to guarantee the
Speaker 1: safety of its mainland and allies. South Korea and Japan,
Speaker 1: Vice President Kamala Harris and Thailand for the Asia Pacific
Speaker 1: Economic Cooperation Leaders Summit together. The country's represented here will
Speaker 1: continue to earthe more Korea to commit. Meanwhile, China and
Speaker 1: Russia have opposed US moves to tough and sanctions against
Speaker 1: the North. A final Senate vote to pass legislation to
Speaker 1: protect the right of Thanksgiving Thanksgiving holiday rather that the
Speaker 1: same Sex marriage is going to be pushed until after
Speaker 1: the Thanksgiving holiday. Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quicktake, powered by more than
Speaker 1: seven hundred journalists and analysts more than a hundred twenty countries.
Speaker 1: Michael Barr, this is Bloomberg in all right, thank you, Michael,
Speaker 1: gotten out. But the Sports Report brought to you botch
Speaker 1: ry stat Audi. Here's John dash Our say Andy, There'd
Speaker 1: been some talk that despite what Aaron Judge was doing
Speaker 1: hitting all those home runs, what Showy Otani was doing
Speaker 1: hitting and pitching was worthy of a repeat American League
Speaker 1: MVP Award. But in the end the vote was lopsided.
Speaker 1: Judge got twenty eight first place votes, Otani only two,
Speaker 1: and Judge in the season where he, of course had
Speaker 1: a record sixty two home runs. First Yankee outfield that
Speaker 1: will be named m v p SS Mickey Mantle. In
Speaker 1: nineteen sixty two, the Cardinals Paul Goldsmith won in the
Speaker 1: National League. What I went for the Nets in Portland,
Speaker 1: A tip in with less than a second ago by
Speaker 1: Royce O'Neil in a one O nine, one O seven
Speaker 1: went over the Blazers. Kevin Durant scored thirty five obviously
Speaker 1: made some comments about the lack of talent around him,
Speaker 1: but O'Neil at a triple double and Ben Simmons at
Speaker 1: his best game as a Natty Sports fifteen next already
Speaker 1: two and oh on their trip. They're playing tonight at
Speaker 1: Golden State overtime in the NHL. They'll win for the
Speaker 1: Devil's another win three two in Toronto to strich their
Speaker 1: winning streak to eleven, and OT lost for the Rangers
Speaker 1: three two in Seattle. Vincent trocha Hald tied the game
Speaker 1: of two minutes left. The Islanders lost in Nashville five
Speaker 1: to four. St. John's Now four and oh beat Nebraska
Speaker 1: by twenty in Brooklyn. Arizona State beat Michigan by twenty five.
Speaker 1: Thursday Night football in Green Bay, Tennessee won twenty seven
Speaker 1: to seventeen. Ryan Tannehill outplay at Aaron Rodgers twenty two
Speaker 1: of twenty seven, three hundred and thirty three passing yards,
Speaker 1: two touchdowns. Derrick Henry Scorey also threw a TV pass
Speaker 1: and the Titans have won seven or last eight. Packers
Speaker 1: have lost six of the last seven. The Eagles have
Speaker 1: signed veteran defensive tackle and Dominck ensue. Sunday's Brown's Bills
Speaker 1: game moved out of snowy Buffalo. It'll be played indoors
Speaker 1: in Detroit. John stash Ellard Bloomberg Sports Team, all right,
Speaker 1: thank you, John. Futures are higher snpup fourteen points, DAL
Speaker 1: futures of seventy four NASDAC features of five D one.
Speaker 1: This is Bloomberg. The Bloomberg Sports Report was brought to
Speaker 1: you by Audie. Don't let someone else drive off in
Speaker 1: the OUTI model you've always wanted. Visit your local try
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Speaker 1: headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot com, the Bloomberg Business out and at Bloomberg Quicktape.
Speaker 1: This is a Bloomberg Business lash. I'm Nathan Hagar. Futures
Speaker 1: are moving higher this morning. Stocks are looking to snap
Speaker 1: two days of losses triggered by a realization the Federal
Speaker 1: Reserve and other major central banks see no reason to
Speaker 1: pause rate hikes anytime soon. We checked the markets every
Speaker 1: fifteen minutes during the trading day on Bloomberg S and
Speaker 1: p futures right now are up seventeen points. Staff futures
Speaker 1: up a hundred three. Nastack futures are highed by sixty
Speaker 1: four points. The docks in Germany, cac and Paris both
Speaker 1: up one percent right now ten Your treasury is down
Speaker 1: nine thirty seconds the old three point seven nine percent
Speaker 1: yould on the two year four point four seven percent.
Speaker 1: Nime X screws up almost a half percent of thirty
Speaker 1: seven cents at eighty two. One of barrel comics gold
Speaker 1: is up two tenths percent, three dollars seventy cents higher atounts.
Speaker 1: The euro is trading at one point zero three seven
Speaker 1: two against the dollar right now. The British pound one
Speaker 1: point one five a en one thirty nine point nine
Speaker 1: three tenday, I'm all street time. We get existing home
Speaker 1: sales and the October leading index. It's Bloomberg business flash.
Speaker 1: Now here's Michael Barr with more on what's going on
Speaker 1: around the world. Good morning, Michael, Good morning Nathan. North
Speaker 1: Korea has fired an intercontinental ballistic missile that landed near
Speaker 1: Japanese waters. It's the second major weapons test this month
Speaker 1: that showed a potential ability to launch nuclear strikes on
Speaker 1: all of the US mainland. The Biden administration told a
Speaker 1: judge Saudi Crown Prince Mohammed Ben Solomon cannot be sued
Speaker 1: in the US over the murder of journalists Jamal Khogi
Speaker 1: because as a head of a government, he is immune.
Speaker 1: If the judge adopts the US finding, it would effectively
Speaker 1: end the lawsuit filed by Kashogis fiance. Same in the NBA,
Speaker 1: the Nets lost. In the NHL, the Rangers lost to
Speaker 1: the Kraken and OT three two. The Devil's won their
Speaker 1: eleventh straight, this one in OT against the Maple Leaves
Speaker 1: three to The Islanders lost the Bruins one. Capitals lost
Speaker 1: in a shootout to the Blues five four. In football,
Speaker 1: the Titans down the Packers seventeen. In baseball, the Yankees
Speaker 1: Aeron Judge won the a L M v P. The
Speaker 1: Cardinals Paul Goldschmidt won the nl Honor. Global Needs twenty
Speaker 1: four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven hundred journalists and analysts
Speaker 1: more than hundred twenty countries. Michael Barr, this is Bloomberg gaming,
Speaker 1: all right, Thank you, Michael. It is five twenty on
Speaker 1: Wall Street. We're live from the Bloomberg Interactive Broker Studios.
Speaker 1: This is Bloomberg Daybreak. How Speaker Nancy Pelosi stepping down
Speaker 1: from her leadership position as Republicans prepared to take over
Speaker 1: the majority in the House of Representatives. We are jointed
Speaker 1: now by chief US policy strategist Greg Valia at a
Speaker 1: GF Investments. Greg, good morning. Do you thank you for
Speaker 1: taking the time with us today. Were you at all
Speaker 1: surprised by Pelosi's decision? No, not at all, Like good morning, Amy,
Speaker 1: I think that she had telegraphed this for several months
Speaker 1: that she wouldn't continue as as Speaker. But there are
Speaker 1: other factors, obviously her husband's attack, her very frosty relations
Speaker 1: with Kevin McCarthy, but maybe most importantly, a desire to
Speaker 1: start elevating a new generation of republic of Democratic leaders. Yes,
Speaker 1: she did say it was time for a new generation
Speaker 1: to lead the Democrats. Who would that be, Well, Hakeem
Speaker 1: Jeffreys number one. It looks like he is the odds
Speaker 1: on favorite to become speaker. There are others, but I
Speaker 1: think Jefferies is going to be a pretty easy victor
Speaker 1: in the voting for speaker, I was gonna want ask
Speaker 1: you about that. I is wondering if this could cause
Speaker 1: even more of a rift within the Democratic Party where
Speaker 1: progressives and more moderate Democrats might wind up going head
Speaker 1: to head over those leadership positions, or is this an
Speaker 1: opportunity for them to unify. I think it's an opportunity
Speaker 1: to unify. But at the same time, this is going
Speaker 1: to be a very very partisan new session of Congress
Speaker 1: starting in January, when Kevin McCarthy, of course, is the speaker.
Speaker 1: I think that the focus on investigations, especially into Joe
Speaker 1: Biden's affairs, is going to poison the well pretty quickly. Greg,
Speaker 1: let's talk about that. Um Republicans ready to put forth
Speaker 1: their new agenda. One of their issues is going to
Speaker 1: be investigating President Biden in relation to his son, Hunter
Speaker 1: Biden's foreign business deals. What does that tell you about
Speaker 1: the Republican agenda as they go as they take the
Speaker 1: majority in the House. Well, I think it's it shows
Speaker 1: that there's not a lot legislatively they can do with
Speaker 1: a margin of three seats four seats, but they can
Speaker 1: have subpoena power, and I think it will be more
Speaker 1: than just an investigation of Joe Biden, and maybe an
Speaker 1: investigation of our very porous border between the US and Texas.
Speaker 1: It may be an investigation of the origins of COVID,
Speaker 1: of Joe Biden's withdrawal from Afghanistan. The list will go
Speaker 1: on and on, and I think these investigations may overshadow
Speaker 1: any attempt to get much legislation enacted. Let me ask
Speaker 1: you a sidebar question to that, and it's a little esoteric,
Speaker 1: but bear with me. When the electorate watches the House,
Speaker 1: manufactur or not manufacturer, but work on issues like those
Speaker 1: investigations correct, instead of working on things like, you know,
Speaker 1: gas prices, inflation, you know, the bread and butter issues
Speaker 1: that affect voters. Does that eventually impact their vote two
Speaker 1: years later, I'm thinking way out there it could. I mean,
Speaker 1: the Republicans have won are done fairly well in this
Speaker 1: election by saying that they're going to go after excessive
Speaker 1: spending inflation. There are a lot of really legitimate policy issues.
Speaker 1: But if they focus not on that but on simply
Speaker 1: these investigations, it could backfire on them. Politically, Republicans hold
Speaker 1: a slim majority in the House, Democrats hold a slim
Speaker 1: majority in the Senate. Does that tell you anything about
Speaker 1: the electorate itself in the US. Yeah, pretty divided, isn't it.
Speaker 1: I think that that that voters, though, to me, send
Speaker 1: an important, too important signals. Number one, I think that
Speaker 1: the the electorate favors moderates. I think if you get
Speaker 1: too extreme on the left or the right, that makes
Speaker 1: a candidate vulnerable. Number two. I thought the most encouraging
Speaker 1: thing in this election was that there was no significant
Speaker 1: voter fraud. I and many people were worried for the
Speaker 1: last few months that we could have a repeat of
Speaker 1: the very contentious election, would charges a fraud afterwards? That
Speaker 1: hasn't happened. That's very encouraging. Only thirty seconds here, Greg,
Speaker 1: do you anticipate gridlock in the coming Congress or perhaps
Speaker 1: a forced cooperation among lawmakers? Mostly gridlock? I think that
Speaker 1: for the markets that's a good story. Many people in
Speaker 1: the markets think that gridlock is good because it means
Speaker 1: they do less harm. And I think on issue after issue,
Speaker 1: they're just going to spin their wheels, right, Chief US
Speaker 1: policy strategist Grad Value at a g F Investments. It
Speaker 1: is always a pleasure. Thank you very much for joining
Speaker 1: us on this Friday morning. Looking ahead at the next
Speaker 1: Congress and the Republican majority. Looking at futures now s
Speaker 1: and P futures of fourteen points del futures of seventies
Speaker 1: seven nasdath futures of forty nine ten year treasury down
Speaker 1: nine thirty seconds, the yield at three point seven nine
Speaker 1: two year yield at four point four eight percent, much
Speaker 1: more still to come. On this Friday morning edition on
Speaker 1: Bloomberg Daybreak, we'll be checking the markets and bringing you
Speaker 1: the latest news and business economics and finance. Stay with us.
Speaker 1: This is Bloomberg. Bloomberg Daybreak is brought to you by
Speaker 1: the New York Community Trust. Your name will live on
Speaker 1: as a champion of the causes you care about four
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Speaker 1: York Community Trust. Learn more at Philanthropist dot NYC. Broadcasting
Speaker 1: live from the Bloomberg Interactive Broker Studio in New York,
Speaker 1: Bloomberg E Living Free On to Washington, d C, Bloomberg
Speaker 1: ninety nine one to Boston, Bloomberg one O six one
Speaker 1: do San Francisco, Bloomberg M sixteen to the Country, Sirius
Speaker 1: XM CHADO one nine team and around the globe. The
Speaker 1: Bloomberg business app and Bloomberg Radio dot Com. This is
Speaker 1: Bloomberg Daybreak. It's five thirty on Wall Street. Good morning.
Speaker 1: I'm Nathan Hager, I'm Amy Morris. Bloomberg Daybreak is brought
Speaker 1: to you by s EI Asset managers don't get results
Speaker 1: that are off the charts when are solutions are off
Speaker 1: the shelf. Learn how SEI is operating platform can turn
Speaker 1: infrastructure into a competitive advantage at se I C dot
Speaker 1: com slash tech. And we're about four hours away from
Speaker 1: the open of US trading. Amy, let's get you up
Speaker 1: to date on the news you need to know at
Speaker 1: this hour. Beginning in Washington, where Democrats are weighing Nancy
Speaker 1: Pelosi's replacement as House Democratic leader, party is rallying behind Brooklyn,
Speaker 1: New York native Hakim Jeffreys. Former New York Congressman and
Speaker 1: Democratic Caucus Chair Joe Crowley spoke with us about the
Speaker 1: shift and leadership. He's a great orator, he has great skills,
Speaker 1: he's very smart, and uh, I think he knows how
Speaker 1: to build coalitions and that's what's so critical of being congress.
Speaker 1: Former New York Congressman Joe Crowley spoke with our Joe
Speaker 1: Matthew on Bloomberg Sound On. You can catch the show
Speaker 1: week days at five pm Eastern on Bloomberg Radio. Nathan
Speaker 1: out of Markets were stocks Center the last day of
Speaker 1: the week, coming off to losing days, weighing on investor's sentiment.
Speaker 1: More hawk Fed speak. Minneapolis Fed President Neil cash Carey
Speaker 1: says the inflation battle is far from over. We have
Speaker 1: raised interest rates a lot this year, so there's a
Speaker 1: lot of tightening in the pipeline. We have not felt
Speaker 1: the full effects yet, and yet inflation is still very high.
Speaker 1: Minneapolis Fed president Al cash Carrey says the full effect
Speaker 1: of rate hikes may not be felt for a year
Speaker 1: or more. St. Louis Fed President James Bullard made similarly
Speaker 1: hawkish comments, saying interest rates should rise to at least
Speaker 1: five percent. Right Corporate News Now Amy where Twitter turn
Speaker 1: well continues. Elon Musk gave employees at ultimatum to adopt
Speaker 1: to the company's new work environment or leave. Many are
Speaker 1: not signing on, which is reportedly putting Twitter's operations at risk.
Speaker 1: Dan Ives at Wedbush Security says Musk's leadership does not
Speaker 1: inspire much confidence for investors. It's been a circus and
Speaker 1: I think there was a view as a Tessa holder
Speaker 1: that once Musk bought Twitter, it would start to die down,
Speaker 1: but instead it hasn't. Dan Ives of Wedbush says Musk
Speaker 1: has his hands full. He also says social media companies
Speaker 1: like Twitter have likely already seen their best periods for growth.
Speaker 1: Taking a look at some stocks on the move this morning,
Speaker 1: shares of Applied Materials are higher after giving a sales forecast,
Speaker 1: hopping estimates. Shares of Gap or up after comparable sales
Speaker 1: for the third quarter beat expectations, and despite the ft
Speaker 1: X breakdown. Amy bitcoins heading for a weekly game. And
Speaker 1: it comes after bitcoins twenty three slide last week when
Speaker 1: Sam Bankman freeds ft X Empire collapse. Right now, bitcoins
Speaker 1: up eight ten percent. It's sixteen thousand, eight hundred twenty dollars.
Speaker 1: SMP futures are up fourteen points, DAL futures up eighty
Speaker 1: one points, nastack futures up fifty points. Straight ahead, your
Speaker 1: latest local headlines and a check of sports. This is Bloomberg,
Speaker 1: all right, Thank you, Nathan, five thirty three on Wall Street. Now,
Speaker 1: let's bring in Michael bar with more on what else
Speaker 1: is going on in New York and around the World.
Speaker 1: Good morning, Michael, Good morning, Aiming. A dangerous storm that
Speaker 1: has the potential to bring heavy snow to western New
Speaker 1: York is already causing problems. Power outages are already being
Speaker 1: reported in the Buffalo area. Mark poland Cars is the
Speaker 1: Ree County Executive. We've just been advised that there is
Speaker 1: a power outage of affecting two thousand, one nineteen customers
Speaker 1: in the town of West Seneca. There are scattered, scattered
Speaker 1: outages elsewhere. Erie County Executive Mark poland Car says more
Speaker 1: than three feet of snow is forecast through the weekend.
Speaker 1: Governor Kathy Elcle says that even though heavy snowfall is
Speaker 1: nothing new, this storm might be life threatening. Be ready
Speaker 1: for the worst, have plenty of food in the refrigerator,
Speaker 1: and be ready to check in on your neighbors. Governor
Speaker 1: hucl is urging people to stay off the roads during
Speaker 1: the storm. The New York author who claims Donald Trump
Speaker 1: raped her in the nineties filed a public copy of
Speaker 1: a battery lawsuit she plans to bring against him next week.
Speaker 1: E Gene Carroll, a former advice columnists with l magazine,
Speaker 1: will file the lawsuit on September novembery, the day after
Speaker 1: a new state law takes effect to temporarily lift the
Speaker 1: statute of limitations on civil claims for sexual offend. Says.
Speaker 1: The finding was in federal court in Manhattan. North Korea
Speaker 1: fired and intercontinental ballistic missile that landed near Japanese waters
Speaker 1: in the second major weapons test this month. Japan's Defense
Speaker 1: minister says the missile launched this morning had the capability
Speaker 1: to reach all of the US mainland. Vice President Kamala
Speaker 1: Harris we strongly condemn these actions and we again called
Speaker 1: for North Korea stopped further unlawful, destabilizing. Vice President Harris
Speaker 1: is in Thailand for the Asia Pacific Economic Cooperation leaders Summit.
Speaker 1: A final Senate vote to pass legislation to protect the
Speaker 1: right of same sex marriage will be pushed until after
Speaker 1: the Thanksgiving holiday. Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quicktake, powered by more than
Speaker 1: twenty seven hundred journalist and analysts more than a hundred
Speaker 1: twenty countries. Michael bar this is Bloomberg. Amy, All right,
Speaker 1: thank you, Michael. Time now for the sports report, brought
Speaker 1: to you by Try State Audi. Here's John dash Our.
Speaker 1: All right, Amy, Aaron Judge said last night he was
Speaker 1: nervous waiting to hear if he was indeed American League
Speaker 1: m VP. He won easily, got all but two first
Speaker 1: place vos judged the fourteenth Yankee to be m v P,
Speaker 1: and those fourteen have won twenty two m v P awards.
Speaker 1: Will Judge have a chance to meet a Yankee m
Speaker 1: v P again. He needs a new contract, said last
Speaker 1: night he's hoping to sign somewhere soon. The Cardinals Paul
Speaker 1: Goldsmith one n L m v P, the guy who
Speaker 1: caught the ball in Texas that Judge hit for his
Speaker 1: sixty second home run, turned down three million dollars. It'll
Speaker 1: be sold at auction. Then that's in Portland, tiedly Royce
Speaker 1: Neil in about to get a foot court for Brooklyn.
Speaker 1: Boots it out top two ran scot. It slips a bit,
Speaker 1: spins right elbow, fadeaway is no food but tip Dan
Speaker 1: it's tipped in with FOYT seven w f A N
Speaker 1: and that's one one O nine one oh seven. Royce
Speaker 1: O'Neil's tip in Capain, a night where he had eleven points,
Speaker 1: eleven rebounds and eleven assist. Kevin ran scort thirty five.
Speaker 1: Nets come home to play Sunday, and Kyra Irving might
Speaker 1: return from his suspension Next tonight visit Golden State College
Speaker 1: of St. John's meet Nebraska by twenty for Jack's Soriano
Speaker 1: seventeen points eighteen new bounds. The Rangers scored late to tie,
Speaker 1: but lost in Seattle three two and overtime. The Islanders
Speaker 1: lost in Nashville five to four. The Devil's favorite a
Speaker 1: hot a three two o t win in Toronto. That's
Speaker 1: the Devil's eleventh consecutive victory. Week eleven Underway, Tennessee won
Speaker 1: at green Bay seven to seventeen. The Titans are pulling
Speaker 1: away in the a f C South, while the Packers,
Speaker 1: who did win last week to into five game losing
Speaker 1: spig They are way behind in the nfcun John Stashar
Speaker 1: Boomberg Sports. All right, thank you, John. It is five
Speaker 1: thirty seven on Wall Street. Time now for the Tri
Speaker 1: State Business Report. Here with that is Bloomberg's Joe Doneger.
Speaker 1: The redo it Met Life stadium set for next year
Speaker 1: still won't involve a grass field surface. The Post reports
Speaker 1: the stadium has told ESPN it's shopping for vendors to
Speaker 1: replace the current field with a new synthetic surface. It's
Speaker 1: a version of field turf, and that has drawn criticism
Speaker 1: from players, both from the Giants and jets worried about injury.
Speaker 1: Canadian based bag brand Herschel Supply is opening a store
Speaker 1: in the Flat Iron Building today. Women's Where Daily says
Speaker 1: the brand operates only four stores in Canada right now,
Speaker 1: but it's planning a dozen or more in North America
Speaker 1: by the end of next year. And the part of
Speaker 1: New York and New Jersey is still the busiest in
Speaker 1: the nation despite a small drop in cargo movement. California's
Speaker 1: top ports are still working to clear up backlogs built
Speaker 1: during the pandemic, but the port beat its counterparts in
Speaker 1: l A and Long Beach for the third straight month.
Speaker 1: That's the Bloomberg Try State Business Report. I'm Joan Donnager.
Speaker 1: Thank you, Joan. It is five thirty eight on Wall Street.
Speaker 1: Bloomberg Radio is on the air from San Francisco to
Speaker 1: New York, London to Hong Kong. Let's check in with
Speaker 1: our global news team for some of the top stories
Speaker 1: heard on our three affiliate radio stations around the world.
Speaker 1: I'm Steve on wus L A Tampa Bay. We're talking
Speaker 1: about the Win Dixie supermarket chain, exploring as sale of
Speaker 1: the company um Corneds Donahoe. On ktr H in Houston,
Speaker 1: a quarter of Americans face the risk of a winter
Speaker 1: power emergency. I'm Ginas Servetti and for k CBS and
Speaker 1: San Francisco. I'm talking about GAP having a pretty good
Speaker 1: quarter and getting a handle on its merchandise built up.
Speaker 1: I'm Jeff Fallinger and on w TB and in Columbus,
Speaker 1: I'm reporting on the enhanced employee benefits at JP Morgan Chase.
Speaker 1: I'm Stephen Carol and Bloomberg d a B Digital Radio.
Speaker 1: In London. We've been reporting on reaction to the bleek
Speaker 1: new reality of recession and higher taxes for the UK
Speaker 1: after the Chancellor's autumn statements, and those are some of
Speaker 1: the stories our Bloomberg journalists and analysts are working on
Speaker 1: this morning around the world. It's five thirty nine on
Speaker 1: Wall Street. The following is an editorial from Bloomberg Opinion.
Speaker 1: This editorial was written by the Bloomberg editorial boy Ward.
Speaker 1: In one sense, investors and regulators should be grateful to
Speaker 1: Sam bankman Fried, the Erstwhild, head of the ft X
Speaker 1: Cryptocurrency Exchange, the spectacular flame out of his virtual empire
Speaker 1: has become a master class on everything that's wrong with
Speaker 1: crypto markets. Several lessons stand out that crypto denominated assets
Speaker 1: warrants skepticism, for example, that market capitalization isn't the same
Speaker 1: as value, and that accounting and consumer protections really do matter.
Speaker 1: Whatever the potential benefits of crypto, the surrounding speculative friendly
Speaker 1: has little to do with them. On the contrary, it
Speaker 1: has mostly served to separate people from their money. As
Speaker 1: f t X has shown, lawmakers and regulators should act
Speaker 1: to keep crypto from threatening the broader financial system, and
Speaker 1: in the meantime, the message for investors and traditional finance
Speaker 1: remains simple, stay away. This editorial was written by the
Speaker 1: Bloomberg Editorial Board. For more Bloomberg opinion, please go to
Speaker 1: Bloomberg dot com, slash Opinion or O P I n
Speaker 1: go on the Bloomberg Terminal. These has been Bloomberg Opinion.
Speaker 1: Bloomberg Opinion editorials can be heard every weekday. At this time,
Speaker 1: terminal customers can read more at OPI I n go.
Speaker 1: Futures are higher SMP futures up twenty three points. DAL
Speaker 1: futures up one two points, Nasdaq futures up eight five
Speaker 1: Much more still to come on Bloomberg daybreaks. Stay with
Speaker 1: us on this Friday morning. This is Bloomberg. The Bloomberg
Speaker 1: Sports Report was brought to you by Audie. Don't let
Speaker 1: someone else drive off and the Audi model you've always wanted.
Speaker 1: Visit your local try state Autie dealer to get behind
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Speaker 1: com for more information, markets, headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot com, the Bloomberg
Speaker 1: Business at and at Bloomberg Quick Tape. He's a Bloomberg
Speaker 1: Business Flash. I'm Nathan Hager. European stocks are on the rise.
Speaker 1: US futures are pointing to a stronger open on Wall
Speaker 1: Street after two days of losses. Is triggered by Federal
Speaker 1: Reserve signals that interest rates are going to cape rising
Speaker 1: for a while. Yet we check the markets every fifteen
Speaker 1: minutes during the trading day on Bloomberg. Right now, SMP
Speaker 1: futures are up twenty points, DAL futures up a hundred
Speaker 1: nineteen NASDAC futures are higher by seventy seven points. DAX
Speaker 1: in Germany Cacom paris both up about one percent right
Speaker 1: now ten Your treasury is down seven thirty seconds the
Speaker 1: old three point seven nine percent yield on the two
Speaker 1: year four point four seven percent. Nime X screwed little changed,
Speaker 1: up four cents at eighty one dollar sixty eight cents
Speaker 1: a baril Comex gold is up two tenths per cent
Speaker 1: three dollars eighty cents higher. Six gets you announce of gold.
Speaker 1: The euro one point zero three seven six against the dollar,
Speaker 1: British pound one point nine one nine two four again
Speaker 1: one ninet two big coins three tenths percent higher at
Speaker 1: sixteen thousand, seven hundred thirty dollars. That's a Bloomberg business flash.
Speaker 1: Now here's Michael Barr with more of what's going on
Speaker 1: around the world. Michael, thank you very much. Nathan. The
Speaker 1: Biden administration is expected to ask the Supreme Court to
Speaker 1: reinstate the original plans to cancel the student debt relief.
Speaker 1: Biden officials are concerned that many Americans will experience a
Speaker 1: financial strain if the relief plans fizzle out. House Democrats
Speaker 1: showed support for Brooklyn native Hakim Jeffreys as their next
Speaker 1: leader to succeed speaker Nancy Pelosi after she announced that
Speaker 1: she is stepping down in the NBA. The Nets lost
Speaker 1: in the NHL. The Rangers lost to the crack in
Speaker 1: an OT three two. The Devils won their eleventh straight,
Speaker 1: this one in OT against the Maple Leafs three to
Speaker 1: the Islanders lost the Bruins one. Capitals lost an issuet
Speaker 1: out to the Blues five four. In baseball, the Yankees
Speaker 1: Aaron Judge won the a L m v P. The
Speaker 1: Cardinals poo Goldschmidt won the NL. On her Thursday Night football,
Speaker 1: the Titans down the Packers. Seventeen Global news twenty four
Speaker 1: hours a day on air and on Bloomberg Quick Tank,
Speaker 1: powered by more than twenty seven hundred journalists and analysts
Speaker 1: more than a hundred twenty countries. Michael bar this is Bloomberguinea.
Speaker 1: All right, thank you, Michael. Five nine now on Wall
Speaker 1: Street Live from the Boomberg get Her Active Broker Studios.
Speaker 1: This is Bloomberg Daybreak. We're joined now by Charlotte Ryland
Speaker 1: COHED Investment c c l A Investment Management. Charlotte, good
Speaker 1: morning to you. Thank you for taking the time with us.
Speaker 1: The SMB SMP of about ten percent from its October lows.
Speaker 1: I want to know where you stand, is the worst over?
Speaker 1: Is this a bear market rally? I think for us
Speaker 1: it's still like a bear market rally. I mean, clearly
Speaker 1: we're we're reacting to that slightly weaker inflation number that
Speaker 1: we had, um so that you know, it's still pretty
Speaker 1: high inflations. Point seven is not exactly out the woods,
Speaker 1: is it so? Um So it really for the next
Speaker 1: year that the question is going to be less about inflation.
Speaker 1: It's probably been much more about what's the impact of
Speaker 1: the rising interest rates, the rising the cost of living
Speaker 1: on businesses and on consumer and what's going to be
Speaker 1: happening in terms of the earning stuff. But so I
Speaker 1: think for us it's still a question of you know,
Speaker 1: it could be a pretty difficult start next year, and
Speaker 1: I'm not sure that's fully reflected in numbers yet. We
Speaker 1: have seen talk this week from FED officials about raising
Speaker 1: those rates, keep those rates higher, trying to find inflation.
Speaker 1: Do you think a recession is inevitable? Um? I think
Speaker 1: if we're talking about Europe, I would certainly say so.
Speaker 1: And I think the UK Europe with much more difficult
Speaker 1: position than the US. Economy. UM, And I'll our of
Speaker 1: you is that, yes, we're definitely gonna have a slowdown
Speaker 1: in the US, quite possibly a recession um. And you know,
Speaker 1: you're beginning to see you know, some science of housing
Speaker 1: market in more difficult place. You're beginning to see some
Speaker 1: big companies starting to shed labor, and mainly that's the
Speaker 1: tech companies. But even so, you know, possibly that sort
Speaker 1: of turning what has been a very tight job market.
Speaker 1: And you know, for the consumer, yes, they've had all
Speaker 1: of those COVID savings sitting on the balance sheets, but
Speaker 1: I imagine particularly for the lower end of of the
Speaker 1: earning scale, people probably something to burn through that. You know,
Speaker 1: definitely negative real incomes is year. What opportunities do you
Speaker 1: see ahead? Um? I mean I think it's it's much
Speaker 1: more a sort of uh, you know, stock specific basis
Speaker 1: for us rather than highly in particular set, because I
Speaker 1: mean there's more defensive end of the market has really
Speaker 1: held up well this year, so you know, the staples
Speaker 1: things like McDonald's, etcetera. UM, and those those that still
Speaker 1: continuing to print pretty good numbers, but certainly the valuations
Speaker 1: looking a little stretched there. So for US, it's probably
Speaker 1: more some of the health care names that we think
Speaker 1: look pretty interesting and certainly you know, reasonably immune from
Speaker 1: what's going on within the economy. UM. And then there
Speaker 1: are parts of tech that are looking more interesting when
Speaker 1: the semiconductor etcetera. Has had a dreadful year. So you know,
Speaker 1: companies like in Video for example, are beginning to look
Speaker 1: more interesting, possibly slightly two earlier the numbers yet, but
Speaker 1: you know, there are opportunities emerging in that kind of ever,
Speaker 1: things like Adobe as well. Ei there anything any places
Speaker 1: we should avoid? Um? I think we need to be
Speaker 1: really careful about anything that's got a leverage on its
Speaker 1: balance sheet. UM. Clearly with rates for the much higher
Speaker 1: trajectory that's that's not gonna be helpful. And we still
Speaker 1: be reasonably cautious on the consumer and consumer discretionary UM.
Speaker 1: And uh, you know, I think we probably you know,
Speaker 1: we've had a great year from oil. I'm not sure
Speaker 1: that that's going to be a great year for Royal
Speaker 1: next year because I think you know, you've had that
Speaker 1: rebound from the pandemic blows and if you're into a
Speaker 1: slow record of environment that tends to be not great
Speaker 1: for world one. Go about a minute here, what about
Speaker 1: geopolitical risks, how's that factor in? Uh, Well, I mean
Speaker 1: it's obviously been a big year for that as well,
Speaker 1: hasn't it. Um So, I mean Ukraine continues to rumble on.
Speaker 1: It doesn't seem to be escalating, which is thankful to Spike,
Speaker 1: you know that sort of the straight bombs going in
Speaker 1: to Poland. But you know, China US continues to be
Speaker 1: you know, the big issue. Um clearly sort of Biden
Speaker 1: as you having talked this this week has been being
Speaker 1: helpful or calming a little bit of those tensions, but
Speaker 1: that that remains sort of the big issue. And I
Speaker 1: think that's going to be particularly like the semi conductor
Speaker 1: of complex, you know, that reliance that the West has
Speaker 1: on places like Taiwan, which is potentially vulnerable. I think
Speaker 1: that's going to continue to sort of drive people to
Speaker 1: sort of bring some of that key technology back home
Speaker 1: and back into a friend your nations right. Clearly, still
Speaker 1: some uncertainty out there. We're going to be watching it
Speaker 1: with you. Charlotte. Thank you so much for taking the
Speaker 1: time this this morning. Charlotte Ryland is go ahead of
Speaker 1: investments at c c l A Investment Management. Nathan Okay
Speaker 1: Ay Thank you. It's five fifty three on Wall Street.
Speaker 1: It's time for the Bloomberg Law Report for to you
Speaker 1: buy American Arbitration Association Business disputes are inevitable result faster
Speaker 1: with the American Arbitration Association, the global leader in alternative
Speaker 1: dispute resolution for over ninety years. More at a d
Speaker 1: R dot org. Now, let's get to the legal stories
Speaker 1: we're watching this morning with Bloomberg's Jeff Pellinger. The State
Speaker 1: Department announced that most US consulates and embassies overseas have
Speaker 1: returned to normal operations after local pandemic restrictions were lifted.
Speaker 1: California's Workplace Safety Agency did not include a paid sick
Speaker 1: time provision in the states permanent COVID nineteen worker protection rules.
Speaker 1: Proposed class action accuses Loureal USA and related companies of
Speaker 1: failing to disclose the presence of toxic chemicals in hair relaxers.
Speaker 1: Bloomberg Law everything you need on one legal research platform, Guidance, Amelitis,
Speaker 1: and Bloomberg Market Intelligence. Find out more at Bloomberg Law
Speaker 1: dot com. Now, another legal story we're watching a Tesla
Speaker 1: shareholders waging a long shot battle for Elon must have
Speaker 1: returned stock options granted as part of his unprecedented fifty
Speaker 1: five billion dollar pay package. This week, must took the
Speaker 1: stand at Delaware Chancery Court defending his pay package that
Speaker 1: helped make him the world's richest man. For more, Bloomberg's
Speaker 1: June Grosso speaks with Eric Tally, a professor at Columbia
Speaker 1: Law School, in defending the compensation plan. Current and former
Speaker 1: Tesla directors have testified that it was important to keep
Speaker 1: Musk focused on and engaged in running Tesla, but he's
Speaker 1: basically a part time CEO. Musk agreed with the shareholders
Speaker 1: lawyer that at the time of this pay deal he
Speaker 1: was spending about fifty of his time at Tesla, at
Speaker 1: Space on Open Ai, boring, and Neuralalink, and now he
Speaker 1: testified that he's spending almost all his time reorganizing Twitter.
Speaker 1: This makes this case one of the most unprecedented executive
Speaker 1: compensation cases that we've ever seen. Quite frankly, most CEOs
Speaker 1: don't work part time at their companies. They are full
Speaker 1: time employees, and their employees who are paid well to
Speaker 1: basically put every bit of their effort and attention into
Speaker 1: the welfare of the company. Musk has always been a
Speaker 1: little bit mercurial in his habits, and in fact, they
Speaker 1: kind of knew that at the time, right, This was
Speaker 1: not one of these things where, you know, some of
Speaker 1: these other sideline ventures came up after the fact other
Speaker 1: than Twitter, so you know, there was a sense in
Speaker 1: which they sort of knew they were getting a guy
Speaker 1: who had divided attentions. What are the questions that the
Speaker 1: judge has to answer to come to her decision. The
Speaker 1: two things that are going to be really important to
Speaker 1: understand is what was the content x by which the
Speaker 1: shareholders of Tesla approved this compensation package, Because it turns
Speaker 1: out that getting a shareholder vote, as long as it's
Speaker 1: a fully informed vote to approve a pay package, does
Speaker 1: a lot. It buys you a lot of real estate
Speaker 1: if you're trying to defend that pay package. But it's
Speaker 1: got to be kind of a by the book vote.
Speaker 1: And a secondarily important issue is to what extent was
Speaker 1: the anticipated size of this compensation package within the realm
Speaker 1: of you know, kind of a reasonable amount, something that
Speaker 1: would be fair to the other shareholders of Tesla, who,
Speaker 1: after all, we're basically going to be diluting themselves a lot.
Speaker 1: As these benchmarks got met and a bunch of these
Speaker 1: options got cast out, so that part is really going
Speaker 1: to turn on you know, how hard was it to
Speaker 1: meet these benchmarks? And so it turns out that the
Speaker 1: more likely it is that the shareholders actually they knew
Speaker 1: what they were voting on, they voted with their highs
Speaker 1: wide open, the more deference the judge is going to
Speaker 1: give to the pay package. On the other hand, if
Speaker 1: the shareholders kind of didn't know everything or felt sort
Speaker 1: of bullied or forced into this vote, then that pay
Speaker 1: package and its bareness is going to get more scrutiny
Speaker 1: in court. That's Eric Tally, Professor Columbia Law School, speaking
Speaker 1: with Bloomberg's June Grosso. Catch more of that interview, plus
Speaker 1: analysis of the latest legal news, by subscribing to the
Speaker 1: Bloomberg Law Podcast or downloading the show at Bloomberg dot
Speaker 1: com slash podcast. Attorneys can find exceptional legal research and
Speaker 1: business development tools at Bloomberg Law dot com and on
Speaker 1: the Bloomberg terminal at b Law Go. Futures pointing higher
Speaker 1: this morning. SMP futures are up twenty six points down,
Speaker 1: futures up a hundred fifty four. Nasdaq futures are higher
Speaker 1: by a hundred points. The tenure Treasury is down to
Speaker 1: six thirty seconds yield three point yield on the two
Speaker 1: year four point four seven percent. Bloomberg day break continues.
Speaker 1: This is Bloomberg