Speaker 1: Mitsliv Oh seven on Wall Street. Rain and forty degrees
Speaker 1: in Central Park, but temperature is gonna fall through today.
Speaker 1: We are under winter weather advisory. It's already slippery on
Speaker 1: the roads. Lots of crashes will get too shortly. First
Speaker 1: Michael Barr with more on what's going on in New
Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan.
Speaker 1: Let's talk about the weather. The Tri state area is
Speaker 1: getting another dose of snowy weather. Bloomberg meteorologist Rob Caroline
Speaker 1: has the latest. Michael. The National Weather Service has a
Speaker 1: winter weather advisory effect for the city in parts of
Speaker 1: New Jersey this morning. A coal front is going to
Speaker 1: cross the area. That's gonna change any rain over to
Speaker 1: some wet snow. Right now, it looks like the accumulations
Speaker 1: will be limited, according to Mabe, as much as two inches,
Speaker 1: especially across some of the higher hilltops in northwestern New Jersey.
Speaker 1: Precipitation should be done by midday. Temperatures will be falling,
Speaker 1: so folks need to be careful because there will be
Speaker 1: some slick spots, especially this afternoon. Michael, Thank you, Rob.
Speaker 1: New York Mayor Eric Adams has enough is enough after
Speaker 1: an eleven month old child is in critical condition stable,
Speaker 1: but she was struck in the face by a stray bullet.
Speaker 1: The child was in a parked car with her mother
Speaker 1: while her father went into a grocery store. Police say
Speaker 1: a man chasing another ran and opened fire. A bullet
Speaker 1: struck the child in the bronx. Adams, who campaigned on
Speaker 1: a pledge to make the city safer, spoke to reporters
Speaker 1: after meeting with the girl's parents at the hospital. It
Speaker 1: was a total disregard for the innocent people who are
Speaker 1: walking into these streets. This is not the city how
Speaker 1: children should grow up in here. Adam says he's going
Speaker 1: to stay in the streets until the city is safe.
Speaker 1: New York City officials want to send drivers and cyclists
Speaker 1: a message lacks enforcement of traffic rules is ending. Mayor
Speaker 1: Adams said the city is launching a multime million dollar
Speaker 1: ad campaign, the highlight pedestrian safety initiatives, and a new
Speaker 1: traffic rule requiring cyclists and drivers to come to a
Speaker 1: complete stop at all intersections. New Jersey Governor Phil Murphy
Speaker 1: says he will require healthcare workers and employees and nursing
Speaker 1: homes and prisons to get fully vaccinated and boosted against
Speaker 1: COVID nineteen, dropping an option to either get the shot
Speaker 1: or be tested. This is an unfathomable number. Roughly five
Speaker 1: thousand New Jersey ands have tested positive for COVID, and
Speaker 1: overwhelmingly with the omicron variant. Governor Murphy says that healthcare
Speaker 1: workers who are unvaccinated will have until next Thursday to
Speaker 1: get their first shot. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quickday, powered by more
Speaker 1: than twenty journalist and analysts in more than a hundred
Speaker 1: twenty countries. I'm Michael bar This is Bloomberg. Thanks Michael,
Speaker 1: five O nine on Wall Street. Time for the Bloomberg
Speaker 1: Sports Update. Good morning, John Stan, John all right, Good morning, Nathan.
Speaker 1: Rangers were on a long road trip one three or
Speaker 1: five back at the Garden first time in over two weeks.
Speaker 1: Another win for the Blue Shirts. Chad wins the face
Speaker 1: off back at the Point Troup, but with a shot,
Speaker 1: and they beat Toronto six to three. That the UNPN
Speaker 1: had the call. It's their twenty sixth win of the season,
Speaker 1: only ten losses. Devils lost their third row beat at
Speaker 1: home by Arizona four to one. Nets in Washington, a
Speaker 1: road game. That means the Kyrie Irving game. Good thing
Speaker 1: for Brooklyn. He scored thirty points nets hung on top
Speaker 1: the Wizards one eighteen the Marcus Aldridge at seven, Nick
Speaker 1: Arrow and two on This home stands to night they
Speaker 1: take on New Orleans and Philadelphia. Last night the Sixers
Speaker 1: Joel Embiid played only twenty seven minutes due an injury,
Speaker 1: still scored fifty points in a win over Orlando. Another center,
Speaker 1: Nicola Yokis. He had forty nine and a triple double
Speaker 1: in Denver's two point win over the l A Clippers.
Speaker 1: The l A Lakers Keith losing. They fell at home
Speaker 1: to Indiana lebron and the Lakers have lost four or five.
Speaker 1: They are under five hundred. They say they have no
Speaker 1: plans to fire their coach, Frank Vogel. St John's went
Speaker 1: out to Omaha, got blown out by Creighton eighties seven
Speaker 1: sixty four. In Villanova was upset at home by Marquette.
Speaker 1: Rutgers top to Iowa to forty six. Australian Open. Daniel
Speaker 1: Medvedev the two seed the Tops. The course was no
Speaker 1: back Tokovitch. He's doubt and may be had played now
Speaker 1: against fiance Nick Krios Medvedev won the first setting the tidebreaker,
Speaker 1: Who's up five four in the second. The Giants don't
Speaker 1: have a general manager yet. They have received permission to
Speaker 1: interview a coaching candidate, Dan Quinn, former Atlanta coach now
Speaker 1: an assistant in Dallas. Johns they actually were Bloomberg Sports Nathan,
Speaker 1: Thank you John, with the nastac now in correction. Territory
Speaker 1: futures are moving a touch higher this morning. SMP futures
Speaker 1: are up seventeen points, Staff futures up a hundred nine.
Speaker 1: NaSTA futures are higher by ninety four points. The tenure
Speaker 1: treasury is up eight thirty seconds, the yield one point
Speaker 1: eight three percent. President Biden defends his first year record
Speaker 1: analysis of his end of the year news conference, next
Speaker 1: with Greg Valier of a GF Investments. This is Bloomberg
Speaker 1: Bloomberg eleven three oh weather winter weather advisory till this afternoon.
Speaker 1: Temperatures falling through the day as we deal with a
Speaker 1: wintry mess and accumulation of an inch or so. Partly
Speaker 1: sunny cold tomorrow only low twenties. Markets headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot com.
Speaker 1: Of Bloomberg Business out hand at Bloomberg Quick Take. This
Speaker 1: is a Bloomberg business flash and I'm Karen Moscow. Europeans
Speaker 1: stocks reversing initial gains as the global sovereign bonds sell off,
Speaker 1: pauses and investors turn their focus to corporate earnings. US
Speaker 1: DOT index futures. Meanwhile, they're moving higher. And we checked
Speaker 1: the markets every fifteen minutes throughout the trading day on
Speaker 1: Bloomberg SMP futures of seventeen points down. Futures have a
Speaker 1: hundred fod NASDAG features of ninety five. The decks in
Speaker 1: Germany's down to tenths of upper cent. The ten year
Speaker 1: treasury of nine thirty seconds, he had one point eight
Speaker 1: three percent yield on the two year one point oh
Speaker 1: three per cent. Nimex scrude oils done about two tenths
Speaker 1: per cent or thirteen cents at eighty six dollars eighty
Speaker 1: three cents of barrel comex school down two tenths per
Speaker 1: cent or four dollars ten cents at eighteen forty one
Speaker 1: forty announced the euro one point one three or nine
Speaker 1: against the dollar. British found one point three six too
Speaker 1: white and against at one fourteen point three to bitcoin
Speaker 1: this morning at forty one d thirty dollars. Today we
Speaker 1: are watching for the weekly report on initial jobless claims
Speaker 1: at eight thirty. Wall Street time. Existing home sales are
Speaker 1: at it ten. That's a Bloomberg business flash. Now here's
Speaker 1: Michael Barr with more on what's going on around the world. Michael,
Speaker 1: Good morning, Good morning Karen. President Joe Biden says he
Speaker 1: thinks Russia will invade Ukraine during his news conference yesterday
Speaker 1: byt and also warned President Vladimir Putin that his country
Speaker 1: would pay a dear price in lives lost and a
Speaker 1: possible cut off from the global banking system if it does.
Speaker 1: As for NATO, the likelihood that Ukraine is going to
Speaker 1: join DATA in the near term is not very like.
Speaker 1: President Biden also said a minor incursion by Russia would
Speaker 1: elicit a lesser response. He later sought to clarify that
Speaker 1: he was referring to a non military action such as
Speaker 1: a cyber attack. Voting legislation collapsed in the Senate after
Speaker 1: a raw, emotional debate. Democrats were unable to change Senate
Speaker 1: rules to push past a Republican filibuster. In the NBA,
Speaker 1: the Nets beat the Wizards one eighteen, The Celtics lost
Speaker 1: in the NHL, the Rangers won the Devil's Lost. Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quicktake, powered by more than twenty seven under journalists
Speaker 1: and analysts more than twenty countries. I'm Michael Barr. This
Speaker 1: is Bloomberg, Nathan. Alright, Michael. Thanks, It's five nineteen on
Speaker 1: Wall Street Live from the Bloomberg Interactive Brokers Studios. This
Speaker 1: is Bloomberg Day Breaking for more on all that's happening
Speaker 1: in the nation's capital. We're joined by Greg Valier, chief
Speaker 1: US policy strategist at a GF Investments. Greg. Good morning.
Speaker 1: I think it's safe to say a lot of attention
Speaker 1: is still on President Biden's comments when it comes to
Speaker 1: Russia at that long news conference yesterday. What stood out
Speaker 1: for you from what the President had to say, Well,
Speaker 1: good morning, Nathan. Obviously, the Russia Ukraine contents were astonishing.
Speaker 1: It was a decent two hours. In many other respects.
Speaker 1: We got some new thinking from Biden on his legislatest strategy,
Speaker 1: g on the election, but all of that stuff will
Speaker 1: be forgotten. What people will remember is what he said
Speaker 1: about Putin and when it comes to Russia, the walk
Speaker 1: back that we heard from Michael Barr in the News,
Speaker 1: they're sort of clarifying whether the response would be to
Speaker 1: a military incursion as opposed to something in the cyber
Speaker 1: realm or something lesser. What's the difficulty for diplomacy now
Speaker 1: after the President's comments? I think it complicates things. And
Speaker 1: you know, if you're a president and your own people
Speaker 1: have to issue a clarification a couple of hours after
Speaker 1: you make a statement, that's never a good thing. And
Speaker 1: I think that today Lincoln and others are going to
Speaker 1: have to clarify to our allies what Biden actually meant.
Speaker 1: But I think Biden revealed what he's thinking, that if
Speaker 1: it's just a minor incursion, will be just a minor
Speaker 1: response in his own line. That that I think had
Speaker 1: Biden's advisors aghast and they had to clarify it. How
Speaker 1: will Russian President Vladimir Putin respond? In your estimation, I
Speaker 1: think Putin must think he died and went to heaven.
Speaker 1: So now we've got three successive presidents who have not
Speaker 1: been tough enough. Barack Obama had meek sanctions after Putin
Speaker 1: went into crimea uh. Donald Trump, of course was a
Speaker 1: lapdog for Putin, and now you have Joe Biden saying
Speaker 1: we might just have a modest response. So all three
Speaker 1: of the last of three presidents I think have not
Speaker 1: handled Putin very well. How is it gonna stir NATO?
Speaker 1: I think NATO has got to be aghast as well.
Speaker 1: NATO has to worry that Putin will continue to be
Speaker 1: a threat. And what's next if Putin goes in and
Speaker 1: take some of eastern Ukraine? Is there a new threat
Speaker 1: to you know, Lithuania, Latvia, Estonia? Is there a new
Speaker 1: threat in other parts of Central Europe? I think this
Speaker 1: has to make our allies in that part of the
Speaker 1: world very concerned. Let's move on to the domestic agenda,
Speaker 1: because you mentioned that we got a little bit more
Speaker 1: a glimpse into the president's thinking when it comes to
Speaker 1: strategizing the domestic agenda going forward. It was very interesting
Speaker 1: to hear the President say that he feels like he's
Speaker 1: on the right track despite pulling that shows otherwise to
Speaker 1: a to a great extent. So where do things go
Speaker 1: from here now? Well, on this which would have been
Speaker 1: the big story had it not been for Ukraine, I
Speaker 1: do think that there's some chance that Biden can get
Speaker 1: parts of his Build Back Better bill enacted. Joe Manchin
Speaker 1: would be happy to get pre K stuff expanded Obamacare,
Speaker 1: even some environmental spending, and even Kristen Cinema I think
Speaker 1: could come along. So on this front and getting more done,
Speaker 1: I think there's a decent chance that Biden can prevail. Well,
Speaker 1: it's interesting as well to hear the President say that
Speaker 1: the Build Back Better plan as structured before would do
Speaker 1: more for inflation, at the same time saying that it's
Speaker 1: up to the Federal Reserve to get prices under control,
Speaker 1: and seeming to support the more hawkish turn it's taken.
Speaker 1: Is the President doing enough to address the concerns that
Speaker 1: many Americans have about rising price pressures. I don't think
Speaker 1: you can do much. I think it will persist with
Speaker 1: the supply chain story. I think will stay bad for
Speaker 1: another six or seven months. So we have to show
Speaker 1: some empathy, and he did. But the idea to build
Speaker 1: back Better programs would help inflation. When you've got an
Speaker 1: economy this hot, I'm not sure you need to spend
Speaker 1: a lot more money. So in our last thirty seconds here, Greg,
Speaker 1: there was a lot of thinking that the President needed
Speaker 1: to recalibrate heading into a second year. Did this news
Speaker 1: conference do it in parts? Yes, if you listen carefully
Speaker 1: to the entire two hours of his presentation, But that
Speaker 1: will all be forgotten. What people will remember is what
Speaker 1: he said about Ukraine. All right, Greg Value, a chief
Speaker 1: US policy strategist at a GF Investments. Good to have
Speaker 1: your thoughts this morning after that long news conference that
Speaker 1: we are going to be talking about for some time.
Speaker 1: Looking ahead to the market, open futures are moving higher
Speaker 1: with the NASTAC incorrection territory Right now, SMP futures are
Speaker 1: up twenty one points down futures up a hundred thirty
Speaker 1: NASTAC futures are higher by a hundred thirteen points. The
Speaker 1: tenure treasury is up ten thirty seconds, the yield at
Speaker 1: one point eight two per cent, and NIME ex s
Speaker 1: crude oil is down two tenths percent at eighty six
Speaker 1: dollars seventy nine cents of barrel. Just ahead, is this
Speaker 1: market relief? And how's the five G rollout affecting airlines.
Speaker 1: We'll have all that and more as we check your
Speaker 1: top stories of the morning. This is Bloomberg Bloomberg eleven
Speaker 1: three oh weather win your weather advisory. Rain for now,
Speaker 1: but it's gonna change into a wintry mess. Highs in
Speaker 1: the low forties early by tomorrow will only be in
Speaker 1: the low twenties upper twenties for Saturday. Currently rain and
Speaker 1: forty degrees. Broadcasting wide from the Bloomberg Interactive Broker Studio
Speaker 1: in New York, Bloomberg E Living Freedom to Washington, d C,
Speaker 1: Bloomberg nine to Boston, Bloomberg one O six one to
Speaker 1: San Francisco, Bloomberg N sixteen to the Country Sirius XM
Speaker 1: Chadle one nineteen, and around the globe the Bloomberg Business
Speaker 1: app and Bloomberg Radio dot Com. This is Bloomberg Daybreak,
Speaker 1: and it's five thirty on Wall Street. Good morning. I'm
Speaker 1: Nathan Hager and I'm Karen Moscow, and we're just about
Speaker 1: four hours away from the open of US trading. Let's
Speaker 1: get you up to date on the news you need
Speaker 1: to know at this hour of US futures are higher
Speaker 1: and bond yields are lower following yesterday's sell off. We
Speaker 1: get more on the market action live with Bloomberg's John Tucker.
Speaker 1: John Good Morning, Karen Appy yesterday's one percent slide for
Speaker 1: the nast Act. The index is now down over ten
Speaker 1: percent from its November high. There may be some relief though.
Speaker 1: Bonds are stabilizing today, and earning season has delivered positive
Speaker 1: results from companies like Morgan Stanley, United Health, and Procter
Speaker 1: and Gamble. Still, strategist at HSBC are cutting the recommendation
Speaker 1: on US stocks from overweight to neutral. Live in New York.
Speaker 1: I'm John Tucker Boomberg Daybreak. Okay, John, thank you. Politics
Speaker 1: is also a major focus this morning. President Biden's pushed
Speaker 1: for voting rights legislation has collapsed. Senators Joe Mansion and
Speaker 1: Kirsten Cinema broke with Democrats to kill the bill. Still,
Speaker 1: Vice President Kamala Harris is not giving up. The President
Speaker 1: and I are not going to give up on this issue.
Speaker 1: This is fundamental chary democracy and it is non negotiable.
Speaker 1: Vice President Harris says they'll look to pass a smaller
Speaker 1: voting plan instead. Meantime, Nathan President Biden held a wide
Speaker 1: ranging news conference to end his first year in office.
Speaker 1: The President said he's outperformed expectations, but at misfrustration from
Speaker 1: a rising prices and the pandemic. He also says tensions
Speaker 1: with Russian President Vadimir Putin could come to a head
Speaker 1: over Ukraine. I'm certain what he's going to do. I
Speaker 1: guess is he will move in. He has to do something.
Speaker 1: President Biden says Russia will be held accountable if it
Speaker 1: invades Ukraine. Outside politics, Karen, We're focused on the controversy
Speaker 1: will roll out of five G. So far, the country's
Speaker 1: avoided major airline disruptions tied to the service. Bloomberg Jornita
Speaker 1: Young joins US Live with the latest. Good morning, Rinia,
Speaker 1: Good morning Nathan. The f a A is clearing about
Speaker 1: sixty two percent of the US aviation fleet to operate
Speaker 1: at airports without fear of five G interference, and the
Speaker 1: new safety measures also increased the number of airports where
Speaker 1: flights can safely operate. While the US avoided major disruptions
Speaker 1: on the first official day of five to service, the
Speaker 1: f a A warns that disruptions are still possible. Live
Speaker 1: in New York, I'm Nita Young, Bloomberg Day Break, All right,
Speaker 1: rened to thank you and back to the markets. This morning,
Speaker 1: the focus remains on earnings. We get results from Netflix
Speaker 1: after the closing Bell and the company projects a gain
Speaker 1: of eight and a half million subscribers. Bill Bloomberg Intelligence
Speaker 1: expects a lower figure. Futures this morning are high R
Speaker 1: S and P futures up about eighteen points and Dow
Speaker 1: futures up ninety eight and NASTAG futures a one make.
Speaker 1: NASTAG futures are up a hundred and Dow futures up
Speaker 1: one hundred twelve. Straight to head your latest local headlines
Speaker 1: plus a check of sports, and this is Bloomberg. Thanks caring.
Speaker 1: It's thirty three in Wall Street, rain and forty degrees
Speaker 1: in Central Park. It is slippery, and we got an
Speaker 1: accident on the northbound West Side Highway to hundred fifty eight.
Speaker 1: Details on that and more coming up in traffic. First
Speaker 1: Michael Barr with what else is going on in New
Speaker 1: York and around the world. Michael, thank you very much, Nathan.
Speaker 1: New York Mayor Eric Adams says enough is enough after
Speaker 1: an eleven month old girl was struck by a stray
Speaker 1: bullet last night in the Bronx. The child, who was
Speaker 1: in critical condition, was with her mother in a parked
Speaker 1: vehicle while her father was in a nearby grocery store.
Speaker 1: Police say an undunified man apparently opened fire while chasing
Speaker 1: another man in the street. Adams, who campaigned on a
Speaker 1: pledge to make the city safer, said he met with
Speaker 1: the girl's parents at the hospital. Doesn't matter to me
Speaker 1: if it's a police officers shot or if it's a
Speaker 1: baby shot. I'm going to stay in these streets until
Speaker 1: this city is safe, Mayor Adams, as the shooter is
Speaker 1: on the loose. New Jersey Governor Phil Murphy is requiring
Speaker 1: all workers in healthcare settings and high risk congregate living
Speaker 1: facilities to be fully COVID nineteen vaccinated and boosted. Murphy
Speaker 1: also says he is eliminating a test out option and
Speaker 1: Omicron tsunami has washed across our state. While it appears
Speaker 1: at Omicron the that the Omicrons tsunami is finally pulling back,
Speaker 1: we are in no position to say we're on dry ground.
Speaker 1: Governor Murphy says. Those in the healthcare community who aren't
Speaker 1: vaccinated have until January to get their first vaccine does
Speaker 1: and the second shot by February. Workers in nursing homes
Speaker 1: and other congregate living facilities, including prisons, we'll have until
Speaker 1: March thirty to get their second shot. The U. S.
Speaker 1: Supreme Court denied a request from former President up to
Speaker 1: shield as presidential papers from the congressional committee investigating the
Speaker 1: January sixth attack. There was one vote in discent. Justice
Speaker 1: Clarence Thomas Delaye. Maxwell formerly asked for a new trial
Speaker 1: after her lawyers raised concerns that at least one of
Speaker 1: the jurors who convicted her of sex trafficking didn't disclose
Speaker 1: during pre trial screenings he was sexually abused as a child.
Speaker 1: The British socialite was found guilty last month of helping
Speaker 1: to sexually abuse underage girls. With Jeffrey Epstein, Global News
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven hundred journalist analysts and
Speaker 1: more than a hundred twenty countries. I'm Michael bar This
Speaker 1: is Bloomberg, Nathan Michael. Thank you on Wall Street time
Speaker 1: for the Bloomberg Sports Update with John Stetshew. Thanks. Faith
Speaker 1: In the criticism of Kyrie Irving continues. The latest away
Speaker 1: in Hall of Famer Dave Bing, who said Irving is
Speaker 1: letting his teammates down. One of those teammates, James Harden,
Speaker 1: recently joked that he's going to in jet Kyrie with
Speaker 1: the vaccine himself, but there are no indications Kyrie will
Speaker 1: change his stands, which means will continue to play only
Speaker 1: on the road. The Nets are playing a lot of
Speaker 1: road games right now. Last night they were in Washington.
Speaker 1: They topped the Wizards one nineteen one eighteen. Irving scored
Speaker 1: thirty chipping in in the first half. You know it's
Speaker 1: going being aggressive and then um, you know, kind of
Speaker 1: pasting myself in the second half, just trying to put
Speaker 1: too two solid halves together at this point. Um, And
Speaker 1: I think once I do that, I'll feel a lot
Speaker 1: more complete. But in terms of where we are as
Speaker 1: a teams. Could Stutty win despite Irving playing only part
Speaker 1: time and now the Kepa Durant injury, that's only a
Speaker 1: half game out for first in the East, Nick Sun
Speaker 1: tonight for New Orleans. Last night at the Garden, other
Speaker 1: Rangers win. They were down three one. They beat Toronto
Speaker 1: six three, two goals for Adam Pops and two for
Speaker 1: Ryan Reeves his first two of the season. Devils lost
Speaker 1: at home to Arizona four to one. St. John's beating
Speaker 1: soundly by Crate in eighties seven sixty four at Rutgers,
Speaker 1: Ron Harper two free throws with two seconds left. Rutgers
Speaker 1: won a low scoring in affair with Iowa. Andy Murray,
Speaker 1: trying to make a comeback at age thirty four, Riddled
Speaker 1: with injuries the last few years, he lost his second
Speaker 1: round match at the Australian Open, where right now Daniel
Speaker 1: Medvedev is up two sets on the Austine Nick Terios
Speaker 1: Battle of Americans Taylor Fritz Pete Francis TFO. Fritz then
Speaker 1: heard his leg when celebrating the victory, says he'll be
Speaker 1: fine for his next match. John Stash, Edward Bloomberg, Sports Lincoln,
Speaker 1: Thank you John. It's thirty seven on Wall Street time
Speaker 1: for the Tri State Business Report. Here's Bloomberg's cory. A
Speaker 1: lot of people quit their jobs last year. A report
Speaker 1: by Chamber of Commerce dot org shows resignations were at
Speaker 1: the lowest rate in New York, at one point eight percent.
Speaker 1: The website reports about one point six million New Yorkers
Speaker 1: quit their jobs last year. About four and a half
Speaker 1: million Americans quit their jobs in November of one. Plug
Speaker 1: Power is working with New York officials on possibly creating
Speaker 1: a federally backed hydrogen hub as states by for eight
Speaker 1: billion dollars in US funding for the cleaning fuel projects.
Speaker 1: The federal Infrastructure package signed into law last year set
Speaker 1: aside money for at least four hydrogen hubs nationwide. New
Speaker 1: York City's transit system is looking to delay fair increases
Speaker 1: for the second consecutive year thanks to better than expected
Speaker 1: state revenue collections. The moves intended to bring riders back
Speaker 1: to its network of subways, buses, and commuter rail lines.
Speaker 1: Than your Bloomberg Try State Business Report, I'm in Corey,
Speaker 1: all right, and thank you. It's five thirty eight on
Speaker 1: Wall Street. Bloomberg Radio is on the air from San
Speaker 1: Francisco to New York, London to Hong Kong. Let's check
Speaker 1: in with our global news team for some of the
Speaker 1: top stories heard on our three hundred affiliate radio stations
Speaker 1: around the world. I'm Steve Potaskan on Chenchen Wins in
Speaker 1: New York. We're talking about the pandemics still doing a
Speaker 1: number on the housing market in parts of the metro area.
Speaker 1: Um for Nitanaho on w h S and Louisville. Toyota's
Speaker 1: COVID destructions deepen with more plants had the virus. I'm
Speaker 1: calihead called BlueBag d a b Dishal radio in London
Speaker 1: Bobus City for asking London Off to come back to
Speaker 1: the office three days a week as the government tops
Speaker 1: what from guided I did? Cory on w o AI
Speaker 1: and sant Antonio. I'm reporting Duras software it acquired California
Speaker 1: based Secure video and those are some of the stories
Speaker 1: our Bloomberg journalist and analysts are working on this morning
Speaker 1: around the world. It's five thirty nine on Wall Street.
Speaker 1: The following is an editorial from Bloomberg Opinion. When he
Speaker 1: took office one year ago, President Joe Biden faced extraordinary challenges,
Speaker 1: a global pandemic, a teetering economy, and bitter partisan divisions.
Speaker 1: How has he done? The economic recovery during his first
Speaker 1: twelve months has been impressive. To be sure, output has
Speaker 1: rebounded and unemployment has fallen to less than four percent,
Speaker 1: But Biden has also disappointed in important respects. The gravest
Speaker 1: threat to the nation now is not COVID nineteen, but
Speaker 1: the possibility that America's creaking machinery of government might break
Speaker 1: down altogether. The president's most important job is to restore
Speaker 1: some semblance of national unity. Unfortunately, Biden hasn't tried hard
Speaker 1: enough to push Democrats and Republicans to work together. The
Speaker 1: president needs to remember that he promised to move on
Speaker 1: from Trump's poisonous politics and start mending the country's divisions.
Speaker 1: That's why he was elected, and no task is more important.
Speaker 1: This editorial was written by the Bloomberg Opinion Editorial Board.
Speaker 1: I'm David Shipley. For more Bloomberg opinion, please go to
Speaker 1: Bloomberg dot com, slash opinion or op and go on
Speaker 1: the Bloomberg terminal. These has been Bloomberg Opinion. You can
Speaker 1: hear Bloomberg opinion editorials every weekday at this time. Terminal
Speaker 1: customers can read more at O, P, I, N GO,
Speaker 1: and we will have more analysis of President Biden's first
Speaker 1: year in office. His end of that first year news conference.
Speaker 1: Will be speaking live with Wendy Schiller, director of the
Speaker 1: American Center for Politics and Policy of the Topman Center
Speaker 1: at Brown University. Right now, SMP futures are of eighteen points,
Speaker 1: sound futures up a hundred eleven and nastic futures hired
Speaker 1: by nineties seven points. Bloomberg eleven three oh Weather Winter
Speaker 1: Weather Advisory RAIN will turn over to snow this morning.
Speaker 1: Temperatures will fall through the day. By tomorrow, we're only
Speaker 1: going to get into the low twenties mix of sun
Speaker 1: and clouds, upper twenties by Saturday. Markets headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot Com,
Speaker 1: The Bloomberg Business aland at Bloomberg Quicktape's a Bloomberg Business
Speaker 1: Flash and I'm Karen Moscow. US stock index futures are
Speaker 1: higher this morning. European stocks are lower as the global
Speaker 1: sovereign bonds sell off, pauses and investors turn their focus
Speaker 1: to corporate earnings. We checked the markets every fifteen minutes
Speaker 1: throughout the trading day on Bloomberg SMP futures up nineteen
Speaker 1: points this morning, Down futures up a NASDACK futures up
Speaker 1: ninety eight. The decks in Germany's down a tenth of
Speaker 1: upper cent ten. Your Treasury up eight thirty seconds, held
Speaker 1: one three percent. They yield on the two year one
Speaker 1: point oh three per cent. NIMEX Screwed oil is down
Speaker 1: half per cent, or thirty nine cents at eighty six
Speaker 1: dollars fifty seven cents of Barrel Comic School down three
Speaker 1: tenths per cent. Or five dollars eighty cents at eighteen
Speaker 1: thirty nine, the Euro one point one eight against the dollar,
Speaker 1: British pound one point three six to one. The ends
Speaker 1: at one fourteen point to six in bitcoin this morning
Speaker 1: at forty two dollars. And as a Bloomberg business flash,
Speaker 1: now here's Michael Barr with more unless going on around
Speaker 1: the world. Michael Karen, thank you very much. Despite a
Speaker 1: last minute attempt from Senate Majority Leader Chuck Schumann or
Speaker 1: ovalhaul Senate filibuster rules, voting rights legislation is once again
Speaker 1: failed in the Senate, Republicans of block voting rights legislation.
Speaker 1: There was Senate debate, but every single Republican went on
Speaker 1: the record voting against it. The U. S. Supreme Court
Speaker 1: cleared the way for some of former President Donald Trump's
Speaker 1: White House papers to be turned over to a congressional
Speaker 1: panel investigating the January sixth capital attack. The Justice has
Speaker 1: rejected Trump's bid to block the release on grounds of
Speaker 1: the executive privilege. In the NBA, the Nets beat the
Speaker 1: Wizards one nine eighteen. The Celtics lost. In the NHL,
Speaker 1: the Rangers won the Devil's Lost. Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quicktake, powered
Speaker 1: by more than twenty seven under journalist and analysts more
Speaker 1: than a hundred twenty countries. I'm Michael Barr, and this
Speaker 1: is Bloomberg Nathan. Thanks Michael. It's almost nine on Wall Street.
Speaker 1: Live from the Bloomberg Intractive Broker Studios. This is Bloomberg Daybreak.
Speaker 1: I'm Nathan Hager. President Biden enters his second year in
Speaker 1: office today with a promise to stay on track even
Speaker 1: with COVID surging, inflation on the rise, and his domestic
Speaker 1: agenda stalled on Capitol Hill. We have faced some of
Speaker 1: the biggest challenges that we've ever faced in this country
Speaker 1: these past few years. Challenges to our public health, challenges
Speaker 1: to our economy. We're we're getting through, the president spoke
Speaker 1: in a wide ranging news conference to mark the end
Speaker 1: of his first year in office. For more, we're joined
Speaker 1: this morning by Wendy Schiller, director of the Tobin Center
Speaker 1: for American Politics and Policy at Brown University. Professor Schill,
Speaker 1: it's good to have you with us this morning. There
Speaker 1: is a lot to unpack from the President's news conference
Speaker 1: yesterday lasted nearly two hours. What stood out for you well, Nathan.
Speaker 1: I think it's a good use of term wide ranging.
Speaker 1: It was nearly two hours helping, an hour and fifty
Speaker 1: minutes that press conference. I mean, it's a couple of
Speaker 1: good things. To Biden is one, as he showed command
Speaker 1: of everything, all these issues, all these difficulties, all these crazies,
Speaker 1: and he was on top of his game. Um, you know,
Speaker 1: he knew what he was talking about. In fact, that
Speaker 1: that may be one of the problems the President Biden
Speaker 1: is that he's so experienced that when reporters pushed him
Speaker 1: on will you change anything, will you do anything different?
Speaker 1: Will you will you fire anybody? Or they said up
Speaker 1: more nicely than I did, um, will you make his staff? Changing?
Speaker 1: In terms of messaging, for example, your messaging is not
Speaker 1: getting out and he just seemed really resistant to that.
Speaker 1: So I think there are pluses for him, but I
Speaker 1: think that's a big minus because when things are bad,
Speaker 1: people want to see government tivot or to make a
Speaker 1: change or respond in some way, and even just shuffling
Speaker 1: people around in terms of messaging would be a signal
Speaker 1: all But he acknowledges that there's some work to do,
Speaker 1: and the President seemed to think that his agenda the
Speaker 1: way he's framed it is the right way to go.
Speaker 1: At the same time, though, as you mentioned, he is
Speaker 1: facing uh, pretty significantly low poll numbers here. Is it enough,
Speaker 1: as the President said that to go out and talk
Speaker 1: to people more about what's working and where he wants
Speaker 1: to take the country or does he need to do more? Well,
Speaker 1: I mean it's I don't know. It's it's certainly a
Speaker 1: component of what he thinks he needs to do in
Speaker 1: terms of getting out of Washington and explaining, but it's
Speaker 1: it's endemic to the entire Democratic Party. You know, there
Speaker 1: are things that he's gotten done that are very very important,
Speaker 1: like infrastructure for example, like like the beginnings of COVID
Speaker 1: relief and vaccinations, and there's lots of things to tout
Speaker 1: to say, we're trying to make your individual life better
Speaker 1: and get through this and his party and he they're
Speaker 1: not doing it. They're they're really playing to an inside
Speaker 1: Washington kind of atmosphere. You know, he tried to blame
Speaker 1: the Republicans, which actually is an effective campaign platform, which is,
Speaker 1: you know, what do you stand for? What will you do?
Speaker 1: And that's the big Achilles deal for the Republicans that Biden.
Speaker 1: You know he's trying to get to, which is, once
Speaker 1: the COVID pandemic eases, eases, it doesn't go away, but eases.
Speaker 1: What the Republicans going to do? What are they going
Speaker 1: to run on? No more mask mandates, no more vaccine fights,
Speaker 1: you know what's left? And um, I think that's a
Speaker 1: pivot the Democrats haven't made yet. Even I'm killing voting rights, Well,
Speaker 1: what are you going to do to protect our electoral system?
Speaker 1: So I think that in that sense he needs different people. Uh.
Speaker 1: He himself said, I need to pivot more from being
Speaker 1: a senator senator president to a president. I thought I
Speaker 1: could be the same kind of negotiator I was in
Speaker 1: the Senate, but I'm president now and we need to
Speaker 1: see him using those executive powers and that's executive um
Speaker 1: vantage point to sell his program better. And I think
Speaker 1: he understands he needs to do it. Whether he does
Speaker 1: and he has the right people around him, that's a
Speaker 1: big question mark. It seems like we got a glimpse
Speaker 1: of that negotiating style yesterday when the President was asked
Speaker 1: about Russia, the tensions with Ukraine and seeming to open
Speaker 1: up some of the divisions or differences of opinion within
Speaker 1: NATO about how to respond depending on what Russia does
Speaker 1: against Ukraine. Did the President make diplomacy more difficult after
Speaker 1: his comments about Russia yesterday. I think he did. And
Speaker 1: I think this is the shadow of President Obama's red
Speaker 1: line with Syria on chemical weapons, when he sort of
Speaker 1: said there's a red line in the sand, you can't
Speaker 1: cross it, and then of course I saw did use
Speaker 1: chemical weapons and United State didn't do anything really of note,
Speaker 1: and I think Biden was it's just laboring under that shadow,
Speaker 1: which is, don't promise what you can't deliver, which is
Speaker 1: exactly what reporters were sort of not beating up on
Speaker 1: him on, but asking him about in terms of his
Speaker 1: campaign promises to the American people. So if you say,
Speaker 1: if you do this, we will do that to to
Speaker 1: putin UM and you can't or you won't and you
Speaker 1: don't have the NATO support for it, then you're back
Speaker 1: or you started from and it damages your credibility going forward.
Speaker 1: So I think that he was trying to avoid that yesterday,
Speaker 1: but I think he obviously slipped up by insinuating that
Speaker 1: we'd be okay with a minor incursion into Ukraine. UM
Speaker 1: so unfortunately that I don't think it went well for him.
Speaker 1: So in our last minute here, Wendy, where do you
Speaker 1: see the president taking his second year? Did he do
Speaker 1: enough at the news conference yesterday to sort of recalibrate? Well,
Speaker 1: you can't, you know, Nathan, we all know he can't
Speaker 1: recalibrate in a single day. But I think one thing
Speaker 1: that if you watch the whole thing, you realize is
Speaker 1: these sort of attacks on his mental fitness. So he
Speaker 1: doesn't know what's going on. I mean that that's just
Speaker 1: empirically not true when you look at how he performed yesterday. Um,
Speaker 1: whether he can actually make the changes he needs to
Speaker 1: do to bring people in that can tell him how
Speaker 1: to use executive power and executive messaging rather than the
Speaker 1: way he was used to in the Senate, that's going
Speaker 1: to be the big test of his presidential management style.
Speaker 1: And at the moment we don't see any signs of that.
Speaker 1: But you know, all presidents make changes in their second year, typically,
Speaker 1: particularly if it's not going well. So we'll have to
Speaker 1: see a president Biden decides to do something, all right.
Speaker 1: Wendy Scholler, the director of the Todman Center for American
Speaker 1: Politics and Policy, at Brown University. As always, thanks, thank
Speaker 1: you for your insights on what's happening in the nation's capital.
Speaker 1: Karen all Ry Nathan thank you. At its five fifty
Speaker 1: four on Wall Street time for our daily Bloomberg Law
Speaker 1: Brief exploring legal issues in the news, and today we're
Speaker 1: looking at a Supreme Court decision tied to the First Amendment.
Speaker 1: Justices seem prime to rule against Boston for refusing to
Speaker 1: allow a conservative Christian organization to fly a flag in
Speaker 1: front of city Hall. It's part of a program that
Speaker 1: allows third parties to temporarily fly flags at the location
Speaker 1: during oral arguments. Justices across the ideological spectrum seemed to
Speaker 1: think Boston had created a quote public forum for more
Speaker 1: in the case, Bloomberg's Jon Grasso speaks to First Amendment
Speaker 1: expert Eugene Vloka, professor at u c l A Law School.
Speaker 1: You can explain the main issue here, The question that
Speaker 1: the court is facing is doesn't have to at that
Speaker 1: point except really all proposed flags on the theory that
Speaker 1: it's created a limited public forum where it can't exclude flags,
Speaker 1: for example, because they're religious. The particular claimant here wanted
Speaker 1: to put up a Christian flag, or whether there's no
Speaker 1: public forum and it is all government speech. Even when
Speaker 1: the government puts up other people's flags, it's endorsing them.
Speaker 1: And then it gets that they can choose and it
Speaker 1: could say, you know, we don't want to endorse Christian flag,
Speaker 1: we don't want to endorse some other flag and the like.
Speaker 1: So that's the question of the court is facing. Is
Speaker 1: this a limited public forum where viewpoint discrimination is unconstitutional?
Speaker 1: Or is this government speech in which the government can
Speaker 1: can choose which viewpoints And it turns out at least
Speaker 1: from the argument, but I think also from the briefing
Speaker 1: that very much turns on just how in particular the
Speaker 1: city has organized this particular program. I say, because all
Speaker 1: the justices agreed that the city could say, look, we're
Speaker 1: going to be really choosing about which flags we fly.
Speaker 1: You know, both cities are only choose to fly flags
Speaker 1: of the United States of the state in the city.
Speaker 1: So everybody agrees the city could do that. The question
Speaker 1: is whether the city did do that here or whether
Speaker 1: it took such a lot of their attitudes, like we
Speaker 1: put up pretty much everything the cremently that never rejected
Speaker 1: some other flag before that. It shows that between that
Speaker 1: and the way that it framed its policies, it shows
Speaker 1: that it deliberately opened up a limited public form. So
Speaker 1: the way the City of Boston has it set up
Speaker 1: right now, would they have to fly a flag with
Speaker 1: a swastika on it? If the answer is that the
Speaker 1: city set up a limited public form, the answer is definitely.
Speaker 1: In a limited public form, the city can't discriminate based
Speaker 1: on the viewpoint. It can't discriminate against pro Nazi views,
Speaker 1: it can't discriminate against pro Communist views, it can't discriminate
Speaker 1: against pro jo hottest views. So if the city set
Speaker 1: up this limited public forum, then then that kid would
Speaker 1: have to fly the flag. And as you see, l
Speaker 1: A law professor Eugene Viloks begin with the Bloomberg's during Grasso.
Speaker 1: Catch more of that interview plus analysis of the latest
Speaker 1: legal news by listening to The Bloomberg Law Show at
Speaker 1: ten pm Eastern Time. Are subscribing to the Bloomberg Law Podcast,
Speaker 1: and attorneys can find exceptional legal research and business development
Speaker 1: tools at Bloomberg Law dot com. And futures this morning
Speaker 1: are on the rise. Right now, SNP futures are up
Speaker 1: twenty points down. Futures of a hundred twenty four and
Speaker 1: Nasdag futures have one hundred seven and still ahead. On
Speaker 1: Bloomberg Daybreak and check on the business headlines and all
Speaker 1: the news you need to start your day. And this
Speaker 1: is Bloomberg.