WEBVTT - Super Tuesday Preview; Apple iPhone Sales Plunge in China

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

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<v Speaker 2>Good morning, I'm Nathan Hager.

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<v Speaker 1>And I'm Karen Moscow. Here are the stories we're following today.

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<v Speaker 2>We begin with politics and the biggest day on the

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<v Speaker 2>presidential primary calendar. Voters in sixteen states and one territory

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<v Speaker 2>head to the polls on this Super Tuesday. Former President

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<v Speaker 2>Donald Trump is expected to dominate, but his last Republican opponent,

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<v Speaker 2>Nikki Haley, is making her stand in one of the

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<v Speaker 2>biggest states in play tonight.

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<v Speaker 3>This is a choice between do you want more of

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<v Speaker 3>the same or do you want something new?

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<v Speaker 2>Nicki Haley held a rally last night in Fort Worth, Texas.

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<v Speaker 2>In all, eight hundred and sixty five Republican delegates are

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<v Speaker 2>up for grabs this evening. Twelve hundred and fifteen are

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<v Speaker 2>needed to clinch the nomination. Former President Trump picked up

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<v Speaker 2>twenty nine more delegates last night in North Dakota, sweeping

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<v Speaker 2>the state's caucuses with eighty four point six percent of

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<v Speaker 2>the North Dakota vote to Hayley's fourteen point two percent.

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<v Speaker 2>Former President Trump currently has two hundred and seventy three

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<v Speaker 2>delegates to Haley's forty three.

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<v Speaker 1>Well, Nathan, while it appears we're headed for a Biden

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<v Speaker 1>Trump rematch. Republican strategist and owner of a Red Wave

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<v Speaker 1>Communications David Kanchel thinks it'll be a very close race.

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<v Speaker 4>Latest round of polls. New York Times Cien Pool in particular,

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<v Speaker 4>has real concern among Democrats for Biden and whether or

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<v Speaker 4>not he's going to be able to pull this off,

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<v Speaker 4>because you know, his net favorability is terrible, his job

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<v Speaker 4>approval is way down. Trump's favorability is actually higher than

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<v Speaker 4>Joe Biden's right now, which is kind of funny. We

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<v Speaker 4>haven't seen that until, you know, the last couple of

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<v Speaker 4>years here, and I think this is going to be

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<v Speaker 4>a real nail bier.

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<v Speaker 1>Republican strategist David Kanchell made the comments in an interview

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<v Speaker 1>with Bloomberg's Joe Matthew on Balance of Power to an

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<v Speaker 1>in for special coverage of Super Tuesday, beginning an hour

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<v Speaker 1>after the first polls close. It all starts tonight at

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<v Speaker 1>eight pm Wall Street Time on Bloomberg Radio.

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<v Speaker 2>Well, Karen, Donald, Trump is going to be allowed to

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<v Speaker 2>compete in today's Colorado primary. That's after the Supreme Court

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<v Speaker 2>unanimously overturned the Colorado Supreme Court's decision to remove him

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<v Speaker 2>under the Constitution's insurrection clause. The US High Court ruled

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<v Speaker 2>that states can't make that call. Former President Trump said

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<v Speaker 2>the result was a milestone.

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<v Speaker 5>I think it's a very big day for America.

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<v Speaker 6>I think it's a very big day for liberty, and

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<v Speaker 6>I think it's just a great day for this country.

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<v Speaker 2>And while the decision was unanimous, the court's three liberal

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<v Speaker 2>justices said the majority went too far into siding the

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<v Speaker 2>Constitution's insurrection clause can't be enforced without Congress passing a

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<v Speaker 2>law first.

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<v Speaker 1>Well, another election news, Nathan, Today's California primary is turning

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<v Speaker 1>out to be very interesting when it comes to the

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<v Speaker 1>Senate race. Bloomberg's Ed Baxter reports from San Francisco.

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<v Speaker 7>The polling has really tightened up here in California so

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<v Speaker 7>called jungle primary. The top two vote getters no matter

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<v Speaker 7>which party, advance as to the general in November. The

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<v Speaker 7>man who presided over the first Trump impeachment, Adam Schiff,

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<v Speaker 7>is running well ahead of Democratic contenders Katie Porter and

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<v Speaker 7>Barbara Lee. But Scheff has spent money attacking GOP newcomer

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<v Speaker 7>former Major leaguer Steve Garvey. Political strategists say it was

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<v Speaker 7>thought out in advance to actually help Garvey and boost

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<v Speaker 7>his name recognition. Democrats have had no problem winning Senate

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<v Speaker 7>seats here over Republicans. Some polling now actually though, has

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<v Speaker 7>Garvey in the lead in San Francisco. I'm at Baxter

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<v Speaker 7>Bloomberg Radio.

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<v Speaker 2>Okay, and thank you. Turning to markets, futures are lower

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<v Speaker 2>a day after stock slipped from record highs Sam Stoveall,

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<v Speaker 2>chief investment strategist at CFRII, says he would not be

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<v Speaker 2>surprised to see a market pullback.

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<v Speaker 6>We're at that point right now where I think that

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<v Speaker 6>we could end up digesting some of the recent gains,

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<v Speaker 6>but I am encouraged by the fact that we have

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<v Speaker 6>never fallen back into a new bear market after recovering

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<v Speaker 6>what we lost in the.

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<v Speaker 2>Prior one cfr A Sam Stovall says the next big

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<v Speaker 2>event for markets comes tomorrow when FED Chair J. Powell

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<v Speaker 2>begins semi annual testimony before Congress.

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<v Speaker 1>Well Nathan, Bitcoin's price is closing in on an all

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<v Speaker 1>time high, but in market value terms, that token already

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<v Speaker 1>touched a record. According to data from coin get go,

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<v Speaker 1>the market capitalization of bitcoin reached one point three five

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<v Speaker 1>trillion dollars, and that tops the peak of one point

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<v Speaker 1>two eight trillion in November of twenty twenty one. Now

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<v Speaker 1>is the month of token jumped to just under sixty

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<v Speaker 1>nine thousand dollars and checking bitcoin right now, it's at

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<v Speaker 1>sixty six thousand, six hundred dollars.

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<v Speaker 2>In company news, Karen disappointing iPhone sales for Apple in China.

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<v Speaker 2>Let's get the story now from Bloomberg's John Tucker, John.

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<v Speaker 8>And Nate Counterpoint research. His iPhone sales in China fell

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<v Speaker 8>and eye opening twenty four percent over the first six

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<v Speaker 8>weeks of this year. Buyers may be attorney the cheaper brands.

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<v Speaker 8>The top market share went to Vivo, which targets the

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<v Speaker 8>budget segment with a handset, accounts for more than half

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<v Speaker 8>of Apple sales. To stimulate demand, Apple even resorted to

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<v Speaker 8>rare discounts on its web store. In January, Apple fell

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<v Speaker 8>below sixteen percent market share from nineteen percent a year ago.

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<v Speaker 8>According to the researchers, what China government officials have asked

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<v Speaker 8>their employees not to bring foreign devices like iPhones to work.

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<v Speaker 8>Apple share is a full and nine percent since the

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<v Speaker 8>start of the year, and it lost the title of

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<v Speaker 8>world's most valuable company to Microsoft. The pre market shares

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<v Speaker 8>this morning down one and a half percent. John Tucker,

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<v Speaker 8>Bloomberg Radio.

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<v Speaker 1>All right, John, thanks well. China is having an impact

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<v Speaker 1>on another big US company, Bloomberg has learned. Advanced micro

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<v Speaker 1>Devices has hit a US government roadblock in attempting to

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<v Speaker 1>sell an artificial intelligence chip tailored for the Chinese market.

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<v Speaker 1>Sources AAMD had hoped to gain a green light from

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<v Speaker 1>the Commerce Department to sell the AI processor to Chinese customers,

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<v Speaker 1>but US officials told AMD that the ship was still

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<v Speaker 1>too powerful and that the company must obtain a license

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<v Speaker 1>from Commerce's Bureau of Industry and Security in order to

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<v Speaker 1>sell it. The stock is down more than three percent

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<v Speaker 1>this morning.

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<v Speaker 2>Well. Meanwhile, Karen China has set its economic growth target

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<v Speaker 2>for this year at around five percent. Bloomberg Daybreak Asia

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<v Speaker 2>anchor Brian Curtis has more from Hong Kong.

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<v Speaker 5>The target is the same as last year, but it

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<v Speaker 5>may be more difficult to attain given the less favorable

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<v Speaker 5>comparisons than last year. Authorities will issue one trillion yu

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<v Speaker 5>on or one hundred and thirty nine billion dollars of

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<v Speaker 5>Ultralong Special Central Government bonds. This is part of a

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<v Speaker 5>ramp up in fiscal stimulus, and it moves more debt

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<v Speaker 5>to the central government away from the provinces. The budget

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<v Speaker 5>deficit projected at three percent of GDP for twenty twenty four,

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<v Speaker 5>military spending up seven point two percent. Markets turned up

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<v Speaker 5>their noses a little on this, but it's still early.

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<v Speaker 5>In Hong Kong. Brian Curtis, Bloomberg Radio.

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<v Speaker 1>All right, Brian, thanks and on the wealth front, for

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<v Speaker 1>the first time in more than nine months, Elon Musk

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<v Speaker 1>is no longer the world's richest person. We get the

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<v Speaker 1>details from Bloomberg's Chirleipellet.

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<v Speaker 9>Musk lost his position atop the Bloomberg Billionaires Index to

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<v Speaker 9>Jeff Bezos. Musk now has a net worth of one

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<v Speaker 9>hundred ninety seven point seven billion. Bezos's fortune is two

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<v Speaker 9>hundred point three billion. It is the first time that Bezos,

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<v Speaker 9>the founder of Amazon, has topped Bloomberg's ranking of the

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<v Speaker 9>richest people since twenty twenty one. The wealth gap between

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<v Speaker 9>Musk and Bezos, which at one point was as wide

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<v Speaker 9>as one hundred forty two billion, has been shrinking as

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<v Speaker 9>Amazon and Tesla Shar's move in opposite directions. In New

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<v Speaker 9>York Charlie Pellett Bloomberg Radio.

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<v Speaker 1>And it's time now for a look at some of

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<v Speaker 1>the other stories making news in New York and around

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<v Speaker 1>the world. And for that we're joined by Bloomberg's Michael

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<v Speaker 1>Barr Michael, good Morning.

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<v Speaker 10>Good morning here. And the Biden administration continues to push

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<v Speaker 10>for a six week pause to the war in gazap

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<v Speaker 10>as well as for Israel to stop blocking aid into

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<v Speaker 10>the besiege enclave and for her mass to release the

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<v Speaker 10>remaining hostages held there. Meanwhile, the US is planning to

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<v Speaker 10>continue to air drop supplies into Gaza. Bloomberg's Nancy lyons

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<v Speaker 10>with the latest.

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<v Speaker 3>The United Nations says a quarter of the two point

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<v Speaker 3>three million people in Gaza faced starvation. The Pentagon's Matt

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<v Speaker 3>Miller says the US started air dropping food into the

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<v Speaker 3>region over the weekend and will continue distributing aid.

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<v Speaker 4>People are desperate for food, for water, for medicine. Parents

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<v Speaker 4>are facing impossible choices about how to feed their children.

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<v Speaker 3>Many don't know where the next meal will come from.

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<v Speaker 3>Miller says these air drops are intended to supplement, not

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<v Speaker 3>replace aid. Through other mechanisms, he says the US is

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<v Speaker 3>pressing Israel to open additional crossings and routes into Gaza

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<v Speaker 3>in Washington. Nancy Lyons Bloomberg Radio.

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<v Speaker 10>New York Governor Cathy ho Coal indicated CHAP plans to

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<v Speaker 10>increase the number of law enforcement officers in the city

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<v Speaker 10>subway system. The development comes after Hokll met with Mayor

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<v Speaker 10>Eric Adams and the NYPD's Chief of Transit to find

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<v Speaker 10>ways to put more state resources in the subway system.

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<v Speaker 10>That is on top the one thousand extra VIPD officers

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<v Speaker 10>in the.

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<v Speaker 11>Subway, seeing more police on the platform, more cameras. As

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<v Speaker 11>you know, I am the one who said that every

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<v Speaker 11>single car has to have cameras on it. And because

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<v Speaker 11>I kept pushing and not taking no for an answer

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<v Speaker 11>or that we can't do it for a few years

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<v Speaker 11>and lall be done. By the end of this year,

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<v Speaker 11>we've over two thousand trains that have cameras on them

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<v Speaker 11>and that has been very helpful in solving crimes as

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<v Speaker 11>well as the platforms. And and I want every make

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<v Speaker 11>sure that every conductor's booth area has cameras as well.

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<v Speaker 10>The NYPD says the subway system is seen a rise

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<v Speaker 10>in major crimes by more than thirteen percent compared to

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<v Speaker 10>the same time last year, President Joe Biden's administration is

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<v Speaker 10>announcing a final rule curtailing credit card late fees. The

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<v Speaker 10>Consumer Financial Protection BUA estimates its move the slash credit

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<v Speaker 10>card late fees would say of an average of two

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<v Speaker 10>hundred and twenty dollars per year for forty five million people.

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<v Speaker 10>Global news twenty four hours a day and whenever you

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<v Speaker 10>want it with the Bloomberg News.

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<v Speaker 4>Now.

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<v Speaker 10>I'm Michael Barr. This is Bloomberg Nathan.

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<v Speaker 2>All right, Michael, thank you time now for the Bloomberg

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<v Speaker 2>Sports Up. They brought to you by Tri State Outy

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<v Speaker 2>Your's John Stashauer.

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<v Speaker 12>Thanks Dathan. The Rangers were the hottest team in hockey

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<v Speaker 12>really loft ten straight wins where they've lost through their

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<v Speaker 12>last four. The hottest team now the Florida Panthers. At

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<v Speaker 12>the Garden, they made it eleven of the last twelve.

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<v Speaker 12>Sam Reinhardt two second period goals numbers forty three and

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<v Speaker 12>forty four in the season. Panthers scored two more third

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<v Speaker 12>period beat the Rangers four to two. Florida has the

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<v Speaker 12>most point in the NHL. Plays again tonight at New Jersey.

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<v Speaker 12>The Devil's now being coached by Travis Green, formerly the

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<v Speaker 12>coach in Vancouver. He was an assistant to Lindy Ruff.

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<v Speaker 12>He was just fired in his fourth season in Jersey.

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<v Speaker 12>The Devils thirty and twenty seven. They've lost five of

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<v Speaker 12>their last seven. Bruins won four to one in Toronto, NBA.

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<v Speaker 12>The Nets lost at home to Memphis one o six,

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<v Speaker 12>one oh two. Wizards lost in Utah. For Washington, that's

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<v Speaker 12>fifteen losses in a row. Yankees went to Jupiter beat

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<v Speaker 12>the Marlins three to two. Clark Schmidt looks ready for

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<v Speaker 12>the season. Four scoreless Sennings allowed only one hit. The

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<v Speaker 12>ex met pitcher Zach Wheeler has flourished in Philadelphia has

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<v Speaker 12>now cashed in a year ahead of free agency. Wheeler

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<v Speaker 12>gets a new deal with the Phillies for three years,

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<v Speaker 12>one hundred and twenty six million. Spaking of Philadelphia, that's

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<v Speaker 12>where Jason Kelsey was yesterday, emotionally making his retirement official

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<v Speaker 12>after thirteen seasons as a fan favorite and anchoring the

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<v Speaker 12>Eagles offensive line.

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<v Speaker 13>I don't know what's next, but I look forward to

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<v Speaker 13>the new challenges and opportunities that'll wait. And I know

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<v Speaker 13>that I carry with me the lessons for my time here,

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<v Speaker 13>and that forever. We shall all share the bond of

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<v Speaker 13>being Philadelphia's.

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<v Speaker 12>Next for Kelsey may well be a broadcasting gig. What's

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<v Speaker 12>next for Russell Wilson? Released by Denver after two lackluster

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<v Speaker 12>seasons there, he becomes a thirty five year old free

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<v Speaker 12>agent quarterback. You don't have to pay him much money

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<v Speaker 12>because Wilson's assured of making thirty nine million to the Broncos.

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<v Speaker 2>John Stashchetwe're Bloombrook Sports. Nathan Okay, John, thank you. We

0:11:54.360 --> 0:11:56.840
<v Speaker 2>want to get right back to this marquee day in

0:11:56.880 --> 0:12:00.760
<v Speaker 2>the presidential primary race. Sixteen states and one teary Award

0:12:00.800 --> 0:12:03.480
<v Speaker 2>delegates on this Super Tuesday, and it could be the

0:12:03.559 --> 0:12:06.440
<v Speaker 2>day Donald Trump all but seals the deal for the

0:12:06.480 --> 0:12:09.680
<v Speaker 2>Republican nomination. We are joined now by Greg Valier, chief

0:12:09.760 --> 0:12:14.120
<v Speaker 2>US policy strategists for AGF Investments. Greg, good morning. Do

0:12:14.160 --> 0:12:16.760
<v Speaker 2>you see any states where it could be a contest today?

0:12:17.559 --> 0:12:20.240
<v Speaker 14>Not really, Nathan, good Morning. It would be face to

0:12:20.280 --> 0:12:24.800
<v Speaker 14>watch California, Texas fates like that. But frankly, I think

0:12:24.840 --> 0:12:26.800
<v Speaker 14>the big story to watch is going to be what

0:12:26.880 --> 0:12:29.840
<v Speaker 14>Nicky Haley does. She may be gone by the end

0:12:29.880 --> 0:12:30.360
<v Speaker 14>of the week.

0:12:30.800 --> 0:12:34.960
<v Speaker 2>That is the big question. What will Nicky Haley do if,

0:12:35.080 --> 0:12:40.040
<v Speaker 2>as expected, she doesn't win any states tonight.

0:12:40.840 --> 0:12:43.640
<v Speaker 14>Yeah, it's awfully hard to see her staying in. It's

0:12:43.880 --> 0:12:46.480
<v Speaker 14>a battle, as you know, for delegates, and she's just

0:12:46.720 --> 0:12:50.679
<v Speaker 14>doing very poorly on delegates. She can claim that, you know,

0:12:50.840 --> 0:12:53.520
<v Speaker 14>thirty percent of the party likes her and would vote

0:12:53.520 --> 0:12:55.679
<v Speaker 14>for her, but that is not going to get her

0:12:55.720 --> 0:12:56.400
<v Speaker 14>the nomination.

0:12:56.840 --> 0:12:59.320
<v Speaker 2>It might not get her the nomination greg but it

0:12:59.360 --> 0:13:03.200
<v Speaker 2>does raise the question of where those thirty percent of

0:13:03.320 --> 0:13:07.840
<v Speaker 2>votes that went for Nikki Haley go. Does former President

0:13:07.880 --> 0:13:11.040
<v Speaker 2>Trump reach out in some way to those voters?

0:13:11.840 --> 0:13:14.640
<v Speaker 14>Yes, I think one of the surprises of the spring

0:13:15.040 --> 0:13:18.640
<v Speaker 14>will be that Trump is more conciliatory with Republicans who

0:13:18.679 --> 0:13:21.760
<v Speaker 14>don't like him. I think he's shrewd enough to realize

0:13:21.800 --> 0:13:26.080
<v Speaker 14>their votes are really important. So I think that Haley

0:13:26.120 --> 0:13:30.080
<v Speaker 14>will probably offer a half hearted endorsement of Trump. But

0:13:30.200 --> 0:13:32.800
<v Speaker 14>even that I think could make a difference in the

0:13:32.840 --> 0:13:38.040
<v Speaker 14>suburban voters in Pennsylvania moderates in Pennsylvania, so there's high

0:13:38.080 --> 0:13:39.320
<v Speaker 14>stakes in what she does.

0:13:39.880 --> 0:13:42.920
<v Speaker 2>There would be interesting if she did give even a

0:13:42.960 --> 0:13:46.280
<v Speaker 2>half hearted endorsement, because as we heard over the weekend,

0:13:46.520 --> 0:13:50.160
<v Speaker 2>she's hinting that she might not stick to her RNC

0:13:50.400 --> 0:13:54.800
<v Speaker 2>pledge to endorse the eventual nominee. Could Nikki Haley continue

0:13:54.840 --> 0:13:57.800
<v Speaker 2>to be something of a gadfly in this race even

0:13:57.880 --> 0:14:00.600
<v Speaker 2>if she doesn't go on from here?

0:14:01.040 --> 0:14:03.520
<v Speaker 14>She could, But I think her focus is going to

0:14:03.640 --> 0:14:07.200
<v Speaker 14>shift rapidly to the twenty twenty eight primary. I know

0:14:07.320 --> 0:14:10.840
<v Speaker 14>that's a long way off. We haven't even had these primaries,

0:14:10.840 --> 0:14:14.760
<v Speaker 14>but I think that she would realize as Ronald Reagan did,

0:14:14.840 --> 0:14:17.640
<v Speaker 14>by the way, in nineteen seventy six, Reagan said all right,

0:14:17.679 --> 0:14:20.320
<v Speaker 14>I'm not going to run, and then he waited until

0:14:21.640 --> 0:14:24.800
<v Speaker 14>nineteen eighty and he won the presidency. And she's young,

0:14:24.880 --> 0:14:28.200
<v Speaker 14>she'd be fifty five fifty six during the twenty twenty

0:14:28.240 --> 0:14:31.480
<v Speaker 14>eight primaries. I think she will start thinking that that

0:14:31.520 --> 0:14:33.040
<v Speaker 14>could be her real opportunity.

0:14:33.560 --> 0:14:36.080
<v Speaker 2>If this does turn out to be a decisive night,

0:14:36.240 --> 0:14:39.800
<v Speaker 2>it's going to set up the longest general election contest

0:14:39.960 --> 0:14:44.240
<v Speaker 2>in recent memory, for a rematch that the polls show

0:14:44.400 --> 0:14:47.480
<v Speaker 2>most Americans don't want. What could that mean for the

0:14:47.480 --> 0:14:49.560
<v Speaker 2>fatigue factor heading into November.

0:14:49.680 --> 0:14:51.720
<v Speaker 14>It's a good point, Nathan. I have lots of friends

0:14:51.720 --> 0:14:53.960
<v Speaker 14>in Canada, and I tell him I'm jealous because their

0:14:54.000 --> 0:14:57.920
<v Speaker 14>campaigns last about six weeks, which seems normal unlike what

0:14:58.400 --> 0:15:02.840
<v Speaker 14>we have, so yes, fatigue. There could be speculation about,

0:15:02.880 --> 0:15:05.720
<v Speaker 14>you know, maybe a long shot third party candidate like

0:15:06.080 --> 0:15:08.960
<v Speaker 14>Robert F. Kennedy Junior. But it's these two guys. I

0:15:08.960 --> 0:15:12.280
<v Speaker 14>don't see anyone else really changing the outlook.

0:15:13.080 --> 0:15:15.320
<v Speaker 2>And when it comes to the Democratic primary, are you

0:15:15.320 --> 0:15:18.240
<v Speaker 2>looking for any potential warning signs for President Biden in

0:15:18.280 --> 0:15:21.200
<v Speaker 2>the Super Tuesday like we saw from Michigan last.

0:15:20.960 --> 0:15:24.560
<v Speaker 14>Week could be good point. I think that there could

0:15:24.600 --> 0:15:29.040
<v Speaker 14>be more states that have uncommitted. That embarrasses the White House.

0:15:29.560 --> 0:15:34.280
<v Speaker 14>It highlights the controversy over the Israeli war with Hamas,

0:15:34.800 --> 0:15:39.120
<v Speaker 14>and it's an added annoyance that Trump that Biden does

0:15:39.160 --> 0:15:39.680
<v Speaker 14>not need.

0:15:40.800 --> 0:15:43.440
<v Speaker 2>And how could this set up the State of the

0:15:43.560 --> 0:15:46.400
<v Speaker 2>Union address that we're going to get on Thursday night?

0:15:46.360 --> 0:15:47.640
<v Speaker 2>You got about thirty seconds left.

0:15:47.680 --> 0:15:51.680
<v Speaker 14>Sure this address is going to require Joe Biden to

0:15:51.720 --> 0:15:56.200
<v Speaker 14>be flawless, no gas, no stumbling. It's got to be

0:15:56.240 --> 0:15:59.640
<v Speaker 14>a flawless address because if it's not, his ratings could

0:15:59.680 --> 0:16:00.880
<v Speaker 14>go down even more.

0:16:03.800 --> 0:16:06.880
<v Speaker 2>This is Bloomberg Daybreak Today, your morning brief on the

0:16:06.920 --> 0:16:10.360
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<v Speaker 2>Hager and I'm Karen Moscow.

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