1 00:00:02,400 --> 00:00:05,560 Speaker 1: Live from the Bloomberg Interacted Burger Studios. This is is Bloomberg 2 00:00:05,640 --> 00:00:09,360 Speaker 1: Day Right for Thursday, June two. Coming up this hour. 3 00:00:09,680 --> 00:00:12,320 Speaker 1: US stocks as had to wrap up their worst first 4 00:00:12,400 --> 00:00:16,239 Speaker 1: half since nineteen seventy. China's economy shows signs of improvement. 5 00:00:16,360 --> 00:00:19,480 Speaker 1: The January six Committee issues the subpoena to former President 6 00:00:19,520 --> 00:00:23,040 Speaker 1: Trump's White House Council and airlines under pressure from lawmakers. 7 00:00:23,040 --> 00:00:26,680 Speaker 1: As a holiday weekend approaches, Mayor Adams reacts to another 8 00:00:26,800 --> 00:00:29,479 Speaker 1: deadly shooting in New York. Plus, it's a changing of 9 00:00:29,480 --> 00:00:31,880 Speaker 1: the guard today at the U. S. Supreme Court. I'm 10 00:00:31,920 --> 00:00:35,680 Speaker 1: Michael bar More ahead, and I'm Scott Sedenberg. The Yankees 11 00:00:35,720 --> 00:00:38,320 Speaker 1: coming off a wing. Get ready for a Houston showdown. 12 00:00:38,440 --> 00:00:41,200 Speaker 1: Plus it update on Wimbledon. I'll have that more coming 13 00:00:41,280 --> 00:00:46,600 Speaker 1: up in sports. That's all s Tradyhead on Bloomberg Day 14 00:00:46,600 --> 00:00:50,840 Speaker 1: Break on Bloomberg eleven three on New York, Bloomberg nine one, 15 00:00:50,960 --> 00:00:54,920 Speaker 1: Washington d C, Bloomberg one oh six one, Boston, Bloomberg 16 00:00:55,000 --> 00:00:59,080 Speaker 1: nine sixties and Francisco Syrius x AM one nineteen and 17 00:00:59,160 --> 00:01:02,240 Speaker 1: around the world on Bloomberg Radio dot Com and via 18 00:01:02,320 --> 00:01:09,319 Speaker 1: the Bloomberg Business app. And good Morning, I'm pared Moscow. 19 00:01:09,360 --> 00:01:12,320 Speaker 1: I'm Nathan Hagar. Bloomberg Daybreak, brought to you by Informatica. 20 00:01:12,360 --> 00:01:14,080 Speaker 1: In the Cloud, your data has the power to do 21 00:01:14,120 --> 00:01:17,199 Speaker 1: the extraordinary. Managed data across any location in the cloud 22 00:01:17,200 --> 00:01:20,959 Speaker 1: for accurate and actionable insights. More at Informatica, dot Com 23 00:01:20,959 --> 00:01:24,440 Speaker 1: and US futures are lower this morning five oh one 24 00:01:24,480 --> 00:01:26,720 Speaker 1: on Wall Street. We checked the markets every fifteen minutes 25 00:01:26,720 --> 00:01:29,640 Speaker 1: throughout the trading day. On Bloomberg, SMP Future is down 26 00:01:29,640 --> 00:01:33,560 Speaker 1: forty four points down, futures down two eight one, nasdack 27 00:01:33,640 --> 00:01:36,520 Speaker 1: Future is dropping down one D sixty five. That's down 28 00:01:36,520 --> 00:01:39,399 Speaker 1: one point four percent, and the tenure Treasury up seven 29 00:01:39,440 --> 00:01:43,280 Speaker 1: thirty seconds yield three point oh six percent. Nathan Well Karen. 30 00:01:43,319 --> 00:01:45,280 Speaker 1: The drop in futures comes as we prepare for the 31 00:01:45,319 --> 00:01:47,640 Speaker 1: final trading day of the first half, and it has 32 00:01:47,680 --> 00:01:50,720 Speaker 1: been a rough one for equity investors. The SMP five 33 00:01:50,800 --> 00:01:54,680 Speaker 1: hundreds on course for its worst first half since The 34 00:01:54,680 --> 00:01:58,120 Speaker 1: index is down almost on the year. Thomas Kennedy is 35 00:01:58,200 --> 00:02:02,040 Speaker 1: chief investment Strategist for Global Wealth Management at JP Morgan Securities. 36 00:02:02,360 --> 00:02:06,040 Speaker 1: The market is trying to get the handoff done between 37 00:02:06,040 --> 00:02:11,000 Speaker 1: worries about inflation two worries about growths um. These are 38 00:02:11,080 --> 00:02:13,560 Speaker 1: challenges that are presented by the third but brillion, so 39 00:02:13,720 --> 00:02:15,640 Speaker 1: we can do that handoff. I think it would be 40 00:02:15,760 --> 00:02:20,919 Speaker 1: very hard for risk free assets to price with less volatility. 41 00:02:21,120 --> 00:02:24,440 Speaker 1: JP Morgan Securities Chief investment strategist Thomas Kennedy says, in 42 00:02:24,520 --> 00:02:26,720 Speaker 1: order for investors to be more confident, they need to 43 00:02:26,720 --> 00:02:30,800 Speaker 1: see inflation go down. But we're seeing this selling spread overseas. 44 00:02:30,800 --> 00:02:33,200 Speaker 1: This morning, Nathan, we get the very latest live at 45 00:02:33,200 --> 00:02:36,040 Speaker 1: the Bloomberg touw in pots in London. Good morning, Ewen, 46 00:02:36,440 --> 00:02:39,600 Speaker 1: Good morning kardon Nathan. A bad end to a terrible quarter. 47 00:02:39,840 --> 00:02:42,640 Speaker 1: See have read on traders Bloomberg screen this morning, with 48 00:02:42,760 --> 00:02:45,120 Speaker 1: two hours into the European trading day and the stocks 49 00:02:45,120 --> 00:02:48,840 Speaker 1: and sounder currently off one point five percent. That extends 50 00:02:48,840 --> 00:02:52,359 Speaker 1: it's years. They dropped to almost seventeen percent on the 51 00:02:52,360 --> 00:02:55,040 Speaker 1: final day of the first half of the year. Every 52 00:02:55,040 --> 00:02:58,920 Speaker 1: single sector lower today, with carmakers, retail and tech stocks 53 00:02:58,960 --> 00:03:02,280 Speaker 1: getting the worst of it. Live in London, i'munports break 54 00:03:02,320 --> 00:03:03,799 Speaker 1: man you and the story is not much better in 55 00:03:03,880 --> 00:03:06,440 Speaker 1: Asia either. The m s c I Asia Pacific Index 56 00:03:06,480 --> 00:03:09,720 Speaker 1: finished its fourth consecutive quarter in the red despite positive 57 00:03:09,760 --> 00:03:13,239 Speaker 1: economic data out of China, the country's factory activity expanded 58 00:03:13,240 --> 00:03:16,079 Speaker 1: in June, and Bloomberg Daybreak Asia anchor Brian Curtis has 59 00:03:16,120 --> 00:03:18,600 Speaker 1: more from Hong Kong. The official p m I rose 60 00:03:18,639 --> 00:03:21,560 Speaker 1: to expansion mode with a fifty point to reading, but 61 00:03:21,800 --> 00:03:24,760 Speaker 1: short of the fifty point five estimate. That said, the 62 00:03:24,800 --> 00:03:28,320 Speaker 1: non manufacturing gauge blew away estimates, coming in at fifty 63 00:03:28,320 --> 00:03:31,320 Speaker 1: four point seven, well above the forecast of fifty and 64 00:03:31,400 --> 00:03:36,120 Speaker 1: a half. The economy is gradually recovering from COVID restrictions. Still, 65 00:03:36,280 --> 00:03:39,440 Speaker 1: the recovery is fragile, as President She sticks to his 66 00:03:39,560 --> 00:03:43,600 Speaker 1: COVID zero strategy in Hong Kong. Brian Curtis Bloomberg day Break, 67 00:03:43,680 --> 00:03:45,880 Speaker 1: All right, thanks, Brian. Well. Oil is heading for its 68 00:03:45,880 --> 00:03:49,280 Speaker 1: first monthly decline since November as OPEC ministers prepared to 69 00:03:49,320 --> 00:03:53,080 Speaker 1: gather to discuss supply policy. Escalating fears over an economic 70 00:03:53,120 --> 00:03:56,320 Speaker 1: slowdown have dented oil this month as interest rates rise, 71 00:03:56,640 --> 00:03:59,360 Speaker 1: checking prices now nonex screwed oil is little change in 72 00:03:59,440 --> 00:04:02,360 Speaker 1: a hundred dollars seventy four cents of barrel. Brent is 73 00:04:02,400 --> 00:04:05,880 Speaker 1: down four tenths percent at a hundred fifteen cents. Well 74 00:04:05,880 --> 00:04:08,920 Speaker 1: despite this month's decline Karen. The recent surgeon oil has 75 00:04:08,960 --> 00:04:12,360 Speaker 1: elevated inflation around the world. FED Chair J. Pale says 76 00:04:12,400 --> 00:04:17,240 Speaker 1: controlling prices remains his priority. Our focus is very intensely 77 00:04:17,440 --> 00:04:21,080 Speaker 1: on setting policy in order to get inflation down to 78 00:04:21,120 --> 00:04:23,800 Speaker 1: two percent. That's what we're working on. That's our We 79 00:04:23,880 --> 00:04:27,200 Speaker 1: understand that that's our primary focus right now. FED Chair 80 00:04:27,320 --> 00:04:29,920 Speaker 1: J pal made those comments to Bloomberg's Francy Laqua in 81 00:04:29,960 --> 00:04:33,760 Speaker 1: a panel discussion at the ECB Forum in Portugal. Well, Nathan, 82 00:04:33,760 --> 00:04:36,360 Speaker 1: this is the final day of the NATO summit in Spain. 83 00:04:36,440 --> 00:04:39,640 Speaker 1: At the gathering, allies have labeled Russia the most significant 84 00:04:39,680 --> 00:04:42,839 Speaker 1: and direct threat to NATO security. Bloombergs Maria Today oh 85 00:04:42,920 --> 00:04:46,240 Speaker 1: has more from Madrid. They say NATO allies believe that 86 00:04:46,320 --> 00:04:49,560 Speaker 1: Russia is seeking to re establish sphere of influence and 87 00:04:49,640 --> 00:04:55,000 Speaker 1: control through cohersion, serversion, aggression and annexation. That is for Russia. 88 00:04:55,240 --> 00:04:57,520 Speaker 1: Now on top of this is a line on China 89 00:04:57,880 --> 00:05:00,840 Speaker 1: which is not as aggressive as not a explicit, but 90 00:05:00,880 --> 00:05:03,240 Speaker 1: it does say that China is a country that could 91 00:05:03,279 --> 00:05:07,279 Speaker 1: be a challenge to future security and Bloomberg's Maria Todeo 92 00:05:07,360 --> 00:05:11,200 Speaker 1: says NATO also expressed disappointment in China for not condemning 93 00:05:11,240 --> 00:05:14,279 Speaker 1: the war in Ukraine. Back in Washington, Karen, the House 94 00:05:14,320 --> 00:05:17,640 Speaker 1: investigation into the attack at the US Capital is ramping up. 95 00:05:17,800 --> 00:05:20,320 Speaker 1: As Bloomberg said, backs to your reports, the January six 96 00:05:20,400 --> 00:05:23,640 Speaker 1: Committee has issued another subpoena, this time to former White 97 00:05:23,680 --> 00:05:26,919 Speaker 1: House Council Pat Sippoloni. This comes after the testimony of 98 00:05:26,920 --> 00:05:30,480 Speaker 1: Mark Meadows eight at Cassidy Hutchinson that Cippoloni pushed back 99 00:05:30,520 --> 00:05:33,159 Speaker 1: on Donald Trump's efforts to go to the capital. Vice 100 00:05:33,200 --> 00:05:35,600 Speaker 1: chair List Cheney says the committee has evidence that Mr. 101 00:05:35,680 --> 00:05:41,080 Speaker 1: Cippaloni repeatedly raised legal and other concerns about Trump activities. 102 00:05:41,360 --> 00:05:44,840 Speaker 1: She says, while the Select Committee appreciates Mr Cippaloni's earlier 103 00:05:44,960 --> 00:05:48,520 Speaker 1: informal engagement, the committee needs to hear from him on 104 00:05:48,680 --> 00:05:51,640 Speaker 1: the record, as other former White House councils have done 105 00:05:51,640 --> 00:05:55,719 Speaker 1: in other congressional investigations. In San Francisco, I'm at Baxter 106 00:05:55,720 --> 00:05:58,120 Speaker 1: Bloomberg daybreak, all right, and thank you for heading into 107 00:05:58,200 --> 00:06:01,080 Speaker 1: a busy travel weekend for the four the July holiday, 108 00:06:01,080 --> 00:06:03,680 Speaker 1: and now the Transportation Department is under new pressure to 109 00:06:03,760 --> 00:06:07,840 Speaker 1: punish airlines for flight disruptions. Bloomberrig's Charlie Pellett brings us 110 00:06:07,880 --> 00:06:11,480 Speaker 1: the details. Post COVID demand and a labor shortage are 111 00:06:11,520 --> 00:06:16,159 Speaker 1: straining travel schedules. US air carriers of struggle to manage demand, 112 00:06:16,560 --> 00:06:19,200 Speaker 1: with three and a half percent of flights canceled a 113 00:06:19,279 --> 00:06:22,520 Speaker 1: nearly twenty delayed during the first four months of the 114 00:06:22,600 --> 00:06:26,040 Speaker 1: year ver months. Senator Bernie Sanders once finds of up 115 00:06:26,080 --> 00:06:30,440 Speaker 1: to fifty five thousand dollars, while Airlines for America, which 116 00:06:30,480 --> 00:06:35,280 Speaker 1: represents major carriers, says its members are doing quote everything 117 00:06:35,360 --> 00:06:39,680 Speaker 1: within their power to ensure reliable flights in New York. 118 00:06:39,760 --> 00:06:42,440 Speaker 1: Charlie Pellett Bloomberg day Break. All right, Charlie, thanks for 119 00:06:42,520 --> 00:06:46,400 Speaker 1: seeing even more travel disruptions overseas this week. London's Heathrow 120 00:06:46,440 --> 00:06:48,800 Speaker 1: Airport and the Charles de Gaulle in Paris are both 121 00:06:48,839 --> 00:06:52,240 Speaker 1: reducing flights. Heathrow ask airlines to cut thirty flights in 122 00:06:52,279 --> 00:06:55,720 Speaker 1: their schedules this morning on concerned peak passenger numbers will 123 00:06:55,760 --> 00:06:58,200 Speaker 1: exceed the level it can safely handle. And in France, 124 00:06:58,240 --> 00:07:01,799 Speaker 1: the Civil Aviation Authority there's order a seventeen percent reduction 125 00:07:01,839 --> 00:07:05,120 Speaker 1: in flights out of Paris because firefighters are on strike. 126 00:07:05,640 --> 00:07:08,280 Speaker 1: SMP futures are down forty three points. That's a drop 127 00:07:08,279 --> 00:07:10,440 Speaker 1: of one point one percent. Ahead of the market opened. 128 00:07:10,440 --> 00:07:12,920 Speaker 1: Dow futures down two hundred seventy seven points in Nasdaq 129 00:07:12,960 --> 00:07:15,800 Speaker 1: futures are lower by a hundred sixty eight Straight ahead 130 00:07:15,800 --> 00:07:18,240 Speaker 1: your latest local headlines in the check of sports. This 131 00:07:18,880 --> 00:07:25,240 Speaker 1: is Bloomberg's five oh seven on Wall Street, seventy one 132 00:07:25,240 --> 00:07:28,640 Speaker 1: degrees in Central Park and already seeing problems on the 133 00:07:28,720 --> 00:07:31,600 Speaker 1: roads northbound FDR Drive. There's a crash near a hundred 134 00:07:31,640 --> 00:07:34,720 Speaker 1: eleventh Streets Scott Lane taken out. Have more coming up 135 00:07:34,720 --> 00:07:37,360 Speaker 1: in traffic shortly. First, Michael Barr has more on what 136 00:07:37,440 --> 00:07:39,480 Speaker 1: else is going on in New York end around the world. 137 00:07:39,480 --> 00:07:42,200 Speaker 1: Good morning, Michael, Good morning Nathan. Authorities in New York 138 00:07:42,200 --> 00:07:44,720 Speaker 1: City are looking for a gunman who murdered a twenty 139 00:07:44,800 --> 00:07:47,560 Speaker 1: year old woman pushing a baby stroller last evening on 140 00:07:47,640 --> 00:07:50,680 Speaker 1: the Upper East Sign of Manhattan. It happened on Lexington 141 00:07:50,720 --> 00:07:54,520 Speaker 1: Avenue and Street. The suspect is described as a male 142 00:07:54,600 --> 00:07:57,559 Speaker 1: dressed in a hoodie, sweat pants, and a baseball cap, 143 00:07:57,760 --> 00:08:01,240 Speaker 1: all in black. Mayor Eric Adams as his administration is 144 00:08:01,280 --> 00:08:04,840 Speaker 1: working hard to combat gun violence, but the city needs help. 145 00:08:05,480 --> 00:08:08,040 Speaker 1: We're going to find this person this gift. Guilty of 146 00:08:08,120 --> 00:08:12,320 Speaker 1: this horrific crime. We're going to find him and bring 147 00:08:12,440 --> 00:08:15,560 Speaker 1: him to justice. We don't need to justice sist him 148 00:08:15,560 --> 00:08:20,160 Speaker 1: to make sure this innocent person received that justice that 149 00:08:20,240 --> 00:08:23,200 Speaker 1: we're asking for. Mayor Adams says. The victim was shot 150 00:08:23,240 --> 00:08:26,120 Speaker 1: by the suspect in the head at point blank range. 151 00:08:26,520 --> 00:08:28,720 Speaker 1: Today is the last day the U. S. Supreme Court 152 00:08:28,800 --> 00:08:32,080 Speaker 1: issues opinions. The court will decide how much authority the 153 00:08:32,120 --> 00:08:34,880 Speaker 1: e p A has to regulate emissions from power plants. 154 00:08:35,040 --> 00:08:39,840 Speaker 1: Another opinion will impact immigration. Also today, Justice Stephen Bryer 155 00:08:40,000 --> 00:08:44,120 Speaker 1: retires and will formerly pass the torch to Katangi Brown Jackson, 156 00:08:44,360 --> 00:08:47,120 Speaker 1: becoming the first black woman on the High Court. New 157 00:08:47,200 --> 00:08:50,240 Speaker 1: Jersey lawmakers have passed a record fifty point six billion 158 00:08:50,240 --> 00:08:53,720 Speaker 1: dollar budget, sending it to Governor Phil Murphy's desk. The 159 00:08:53,760 --> 00:08:56,880 Speaker 1: budget is nine percent bigger than last year's and comes 160 00:08:56,920 --> 00:09:00,840 Speaker 1: after better than expected tax returns and big state conference. 161 00:09:01,240 --> 00:09:03,760 Speaker 1: The death told from the deadliest smuggling case in US 162 00:09:03,840 --> 00:09:06,840 Speaker 1: history rose to fifty three. The victims were found Monday 163 00:09:06,840 --> 00:09:09,239 Speaker 1: in the back of a sweltering truck in San Antonio. 164 00:09:09,559 --> 00:09:13,280 Speaker 1: Four men face charges. R and B. Star R. Kelly 165 00:09:13,360 --> 00:09:15,880 Speaker 1: was sentenced to thirty years in prison. The fifty five 166 00:09:15,960 --> 00:09:18,800 Speaker 1: year old singer was convicted of racketeering and sex trafficking 167 00:09:18,880 --> 00:09:23,200 Speaker 1: last year. Lizette Martinez and r Kelly, accuser and author 168 00:09:23,240 --> 00:09:26,240 Speaker 1: of the book Jane Doe Number nine, described how she 169 00:09:26,400 --> 00:09:29,400 Speaker 1: finally got away. I looked in the mirror and I 170 00:09:29,400 --> 00:09:33,040 Speaker 1: didn't recognize myself, and I didn't like myself anymore. And 171 00:09:33,080 --> 00:09:35,840 Speaker 1: I knew that if I didn't get out, neither he 172 00:09:35,880 --> 00:09:37,640 Speaker 1: was gonna kill me or I was gonna kill myself. 173 00:09:38,000 --> 00:09:41,160 Speaker 1: You got that's dark? Is that? Martinez spoke to ABC. 174 00:09:41,800 --> 00:09:44,920 Speaker 1: Israel's parliament voted today to dissolve itself and send the 175 00:09:44,920 --> 00:09:47,200 Speaker 1: country to the polls in November. For the fifth time 176 00:09:47,200 --> 00:09:50,800 Speaker 1: in less than four years. Yar Lapide, Israel's foreign minister, 177 00:09:50,840 --> 00:09:54,440 Speaker 1: will become the country's scaretaker prime Minister. Global News twenty 178 00:09:54,480 --> 00:09:57,080 Speaker 1: four hours a day on air and on Bloomberg Quick Tech, 179 00:09:57,320 --> 00:10:01,480 Speaker 1: powered by more than journalists and anal to more countries. 180 00:10:01,760 --> 00:10:04,400 Speaker 1: Michael Barr and this is Newberg. Nathan, Okay, Michael, thank you, 181 00:10:09,559 --> 00:10:12,360 Speaker 1: dam We're coming up now to five ten on Wall Street. 182 00:10:12,400 --> 00:10:15,439 Speaker 1: That's time for the Bloomberg Sports Update. Here's Scott Seidenberg. 183 00:10:15,840 --> 00:10:18,840 Speaker 1: Thanks Nathan the Yankees using the long ball to help 184 00:10:18,920 --> 00:10:21,959 Speaker 1: bail out Jamison Tayone yesterday and beat the A's of 185 00:10:22,080 --> 00:10:24,880 Speaker 1: five three. Tayone allowed three runs in the top of 186 00:10:24,880 --> 00:10:27,120 Speaker 1: the first inning, but Aaron Judge quickly got two back 187 00:10:27,160 --> 00:10:28,720 Speaker 1: with the homer in the bottom of the frame, and 188 00:10:28,720 --> 00:10:31,080 Speaker 1: then Gean Carlos Stanton put the Yankees on top with 189 00:10:31,120 --> 00:10:34,240 Speaker 1: a three run blast in the third inning. The Yankees 190 00:10:34,240 --> 00:10:37,520 Speaker 1: are twenty five and one when Judge and Stanton homer 191 00:10:37,640 --> 00:10:40,520 Speaker 1: in the same game, including nine and oh this season. 192 00:10:41,000 --> 00:10:43,320 Speaker 1: With the win, the Bombers improved their records of fifty 193 00:10:43,400 --> 00:10:47,240 Speaker 1: six and twenty, matching the team and the two thousand 194 00:10:47,320 --> 00:10:51,640 Speaker 1: one Mariners for the best seventies six game start. Yankees 195 00:10:51,640 --> 00:10:54,360 Speaker 1: will play one game in Houston tonight before heading to 196 00:10:54,440 --> 00:10:57,800 Speaker 1: Cleveland for a weekend series. Luis Severino will get the start, 197 00:10:58,000 --> 00:11:00,840 Speaker 1: and Mets meanwhile lost a pitchers due to the Astros 198 00:11:00,880 --> 00:11:04,000 Speaker 1: tune up in yesterday. Justin Berlander when eight shutout innings 199 00:11:04,000 --> 00:11:07,400 Speaker 1: allowing just two hits, and Taiwan Walker matched him, going 200 00:11:07,520 --> 00:11:10,319 Speaker 1: seven and a third shutout innings allowing just four hits. 201 00:11:10,679 --> 00:11:13,160 Speaker 1: Jason Castro's to run homer off of Drew Smith on 202 00:11:13,200 --> 00:11:15,280 Speaker 1: the top of the ninth was the difference. The Mets 203 00:11:15,320 --> 00:11:18,760 Speaker 1: are off tonight. They host the Rangers tomorrow night. At Wimbledon, 204 00:11:18,880 --> 00:11:22,440 Speaker 1: Novak Djokovic cruised in straight sets, Three seed Casper Rude 205 00:11:22,520 --> 00:11:26,360 Speaker 1: was upset by Ugo Umbert, and American John Isner defeated 206 00:11:26,360 --> 00:11:29,800 Speaker 1: two time champion Andy Murray the second round exit the 207 00:11:29,840 --> 00:11:32,880 Speaker 1: earliest exit for Murray at the All England Club. I'm 208 00:11:32,920 --> 00:11:37,240 Speaker 1: Scott Sedenburg with Bloomberg Sports. Nathan Scott, thank you, getting 209 00:11:37,240 --> 00:11:39,400 Speaker 1: ready to close the books on the worst first half 210 00:11:39,440 --> 00:11:44,640 Speaker 1: for US stocks since nineteen seventy. Futures point two more losses. 211 00:11:44,840 --> 00:11:48,280 Speaker 1: Right now, SMP futures are down fifty one points, a 212 00:11:48,320 --> 00:11:50,719 Speaker 1: drop of one point three percent, DEW futures down three 213 00:11:51,040 --> 00:11:53,680 Speaker 1: twenty six that's a one percent loss, and NASTAC futures 214 00:11:53,760 --> 00:11:56,120 Speaker 1: leading the declines right now down a hundred ninety eight 215 00:11:56,160 --> 00:12:00,040 Speaker 1: points for a drop of one point seven percent, and 216 00:12:00,120 --> 00:12:03,760 Speaker 1: your treasury yield three point zero five. This is Bloomberg 217 00:12:07,520 --> 00:12:10,520 Speaker 1: Bloomberg eleven three oh. Weather. Temperatures are going up. We'll 218 00:12:10,520 --> 00:12:14,840 Speaker 1: get near ninety today, low nineties tomorrow. Occasional showers and 219 00:12:14,880 --> 00:12:17,040 Speaker 1: storms for Saturday with a high. Then there eighty five 220 00:12:17,080 --> 00:12:23,319 Speaker 1: degrees right now seventy one in Central Park Markets. Headlines 221 00:12:23,360 --> 00:12:26,359 Speaker 1: and breaking news twenty four hours a day at Bloomberg 222 00:12:26,400 --> 00:12:29,199 Speaker 1: dot com for the Bloomberg Business at and at Bloomberg 223 00:12:29,280 --> 00:12:38,160 Speaker 1: Quick Tape. This is a Bloomberg Business Flash and I'm 224 00:12:38,200 --> 00:12:41,400 Speaker 1: Karen Moscow and Europeans stocks are falling with US stock 225 00:12:41,480 --> 00:12:45,559 Speaker 1: index futures after central bankers issued warnings on inflation and field. 226 00:12:45,559 --> 00:12:48,880 Speaker 1: Concerned that aggressive policy will end in recession. We check 227 00:12:48,920 --> 00:12:51,200 Speaker 1: the markets every fifteen minutes throughout the trading day on 228 00:12:51,240 --> 00:12:54,720 Speaker 1: Bloomberg U S and P futures down fifty seven points down, 229 00:12:54,720 --> 00:12:57,520 Speaker 1: futures down three hundred sixty and NASDACK futures down two 230 00:12:57,600 --> 00:13:00,240 Speaker 1: hundred twenty one or about one point nine first sent 231 00:13:00,600 --> 00:13:03,439 Speaker 1: the docks in Germany is down two and a half percent. 232 00:13:03,480 --> 00:13:06,040 Speaker 1: The ten year treasury up eleven thirty seconds, you know, 233 00:13:06,120 --> 00:13:08,160 Speaker 1: three point oh four percent. They yield on the two 234 00:13:08,240 --> 00:13:11,720 Speaker 1: year two point nine eight percent. Nine max screwed oil 235 00:13:11,840 --> 00:13:14,080 Speaker 1: is up about two tens percent, or nineteen cents at 236 00:13:14,080 --> 00:13:16,680 Speaker 1: a hundred nine dollars ninety six cents of barrel comex 237 00:13:16,800 --> 00:13:18,680 Speaker 1: gold on a tenth of a percent or two dollars 238 00:13:18,679 --> 00:13:21,959 Speaker 1: ten cents at eighteen fifteen forty announced the euro one 239 00:13:22,000 --> 00:13:24,679 Speaker 1: point of four three four against the dollar, British found 240 00:13:24,679 --> 00:13:27,280 Speaker 1: one point two one three four and again one thirty 241 00:13:27,360 --> 00:13:30,240 Speaker 1: six point one six. Looking at bitcoin, it's down almost 242 00:13:30,240 --> 00:13:34,640 Speaker 1: six percent at nineteen thousand, nineteen dollars. And today we 243 00:13:34,679 --> 00:13:37,120 Speaker 1: get reports on personal income and spending at any thirty 244 00:13:37,120 --> 00:13:39,440 Speaker 1: Wall Street time, along with the weekly report on initial 245 00:13:39,520 --> 00:13:43,120 Speaker 1: jobless claims and Walgreen's Boots Alliance among companies scheduled to 246 00:13:43,160 --> 00:13:46,360 Speaker 1: report earnings today. As a Bloomberg Business Flash, now here's 247 00:13:46,400 --> 00:13:49,200 Speaker 1: Michael Barr with more onless going on around the world. Michael, 248 00:13:49,240 --> 00:13:52,280 Speaker 1: Good morning, Good morning Karen. The House committee investigating last 249 00:13:52,440 --> 00:13:55,000 Speaker 1: year's of sault on the US capital says it had 250 00:13:55,040 --> 00:13:58,679 Speaker 1: subpoenut former White House Council Pat Sabloni to appear on 251 00:13:58,880 --> 00:14:03,440 Speaker 1: July six or closed door deposition. Cipoloni has emerged in 252 00:14:03,480 --> 00:14:06,600 Speaker 1: recent weeks as a subject of interest by committee members, 253 00:14:06,800 --> 00:14:09,079 Speaker 1: who say he was at the center of a number 254 00:14:09,120 --> 00:14:13,280 Speaker 1: of events related to the attack. On January six, Israel's 255 00:14:13,280 --> 00:14:16,400 Speaker 1: parliament has voted to dissolve itself, sending the country to 256 00:14:16,480 --> 00:14:19,480 Speaker 1: the polls for the fifth time in less than four years. 257 00:14:19,800 --> 00:14:22,680 Speaker 1: In baseball, the Yankees beat the A's five three. The 258 00:14:22,680 --> 00:14:25,760 Speaker 1: Mats lost along with the Nationals, Orioles and Giants. The 259 00:14:25,800 --> 00:14:28,760 Speaker 1: Red Sox one Global News twenty four hours a day 260 00:14:28,800 --> 00:14:32,040 Speaker 1: on air and on Bloomberg Quicktake, powered by more than 261 00:14:32,120 --> 00:14:34,360 Speaker 1: twenty seven hundred journalists and analyst and more than a 262 00:14:34,440 --> 00:14:38,800 Speaker 1: hundred twenty countries. Michael Barn This is Bloomberg. Nathan Okay, Michael. Thanks, 263 00:14:38,800 --> 00:14:41,440 Speaker 1: It's five nineteen on Wall Street Live from the Bloomberg 264 00:14:41,480 --> 00:14:44,440 Speaker 1: Interactive Broker Studios. This is Bloomberg Day Break. As we 265 00:14:44,520 --> 00:14:46,760 Speaker 1: get ready to close the books on the first half 266 00:14:46,760 --> 00:14:48,840 Speaker 1: of two, we want to get a little bit more 267 00:14:48,880 --> 00:14:52,160 Speaker 1: now on the latest economic data out of China, since 268 00:14:52,200 --> 00:14:54,680 Speaker 1: what's happening in the world's second biggest economy weighs so 269 00:14:54,720 --> 00:14:57,640 Speaker 1: heavily into the global recovery and occurrent is with us 270 00:14:57,720 --> 00:15:01,600 Speaker 1: This morning, chief Asia Economics correspondent for Bloomberg News, and 271 00:15:01,720 --> 00:15:04,800 Speaker 1: a good morning. We got manufacturing and services activity now 272 00:15:05,000 --> 00:15:08,520 Speaker 1: both showing signs of expansion in China. How big a 273 00:15:08,560 --> 00:15:11,880 Speaker 1: deal is this given all the factory lockdowns we've seen 274 00:15:11,920 --> 00:15:15,160 Speaker 1: in big cities in China, particularly the manufacturing side of 275 00:15:15,200 --> 00:15:18,440 Speaker 1: the p m I data. So the official pm I 276 00:15:18,600 --> 00:15:21,840 Speaker 1: data rose over that fifty marts back in positive territories. 277 00:15:21,920 --> 00:15:24,200 Speaker 1: That would stand to reason making, Like you say, because 278 00:15:24,240 --> 00:15:26,960 Speaker 1: the factories are reopening, things are getting going in. The 279 00:15:27,040 --> 00:15:29,800 Speaker 1: more interesting story was the non manufacturing side of things. 280 00:15:30,040 --> 00:15:33,600 Speaker 1: That service as stage there hit its highest in more 281 00:15:33,720 --> 00:15:37,560 Speaker 1: than a year. That was mostly them to a recovery 282 00:15:37,640 --> 00:15:43,920 Speaker 1: in logistics. So trucks and transportation has improved as the 283 00:15:44,040 --> 00:15:47,240 Speaker 1: restricting the ease up over the last few weeks. Um. 284 00:15:47,320 --> 00:15:49,320 Speaker 1: But you know on the sis side is still till 285 00:15:49,360 --> 00:15:52,680 Speaker 1: the weakness too. We know that, especially in the catering 286 00:15:52,680 --> 00:15:55,320 Speaker 1: and eating outside of it. So the headline is pm 287 00:15:55,520 --> 00:15:58,560 Speaker 1: is back in positive territory. That does big the idea 288 00:15:58,600 --> 00:16:00,760 Speaker 1: that China's economy is hit a bum and that it 289 00:16:00,920 --> 00:16:03,600 Speaker 1: is recovering. But nobody is looking at these numbers today 290 00:16:03,600 --> 00:16:06,320 Speaker 1: and pointing out a V shaped recovery for channing agent. 291 00:16:06,600 --> 00:16:09,040 Speaker 1: Now what does this tell you about how services, at 292 00:16:09,080 --> 00:16:11,880 Speaker 1: least at this point is recovering at least based on 293 00:16:11,880 --> 00:16:15,000 Speaker 1: the index data, more quickly than the manufacturing side. You 294 00:16:15,040 --> 00:16:16,640 Speaker 1: tend to think of China being much more of a 295 00:16:16,640 --> 00:16:21,640 Speaker 1: manufacturing powerhouse than a consumer driven economy. Yeah, people, logistics 296 00:16:21,720 --> 00:16:25,000 Speaker 1: really was kind of skewed the services side of this 297 00:16:25,120 --> 00:16:27,520 Speaker 1: sort of non manufacturing side. There is a pickup, of course, 298 00:16:27,720 --> 00:16:30,600 Speaker 1: in catering. There's a pick up in entertainment, there's a 299 00:16:30,680 --> 00:16:34,200 Speaker 1: pickup in railway, in air transportation, but it's to transportation 300 00:16:34,240 --> 00:16:36,920 Speaker 1: side of it that's kind of skewing the overroad services 301 00:16:36,920 --> 00:16:40,680 Speaker 1: side of things. I you know, the the unemployment used 302 00:16:40,720 --> 00:16:43,760 Speaker 1: on employment in China is at a record high, and 303 00:16:43,800 --> 00:16:48,520 Speaker 1: we know that there's still pretty much subdued mood among consumers. 304 00:16:48,760 --> 00:16:50,760 Speaker 1: We see that in the monthly reach out sales SIDEA. 305 00:16:50,800 --> 00:16:54,840 Speaker 1: They're not showing exhibiting any kind of animal spirits just yet. 306 00:16:55,160 --> 00:16:57,800 Speaker 1: So I think that, as I say, all of these 307 00:16:57,880 --> 00:17:00,600 Speaker 1: numbers speak to this idea of stabilizing week finding a 308 00:17:00,640 --> 00:17:03,160 Speaker 1: sweet In fact, authority said that the numbers showed at 309 00:17:03,160 --> 00:17:05,359 Speaker 1: the economy has bottom that now. But I think the 310 00:17:05,359 --> 00:17:09,000 Speaker 1: point is we're not seeing any runaway rebound on the 311 00:17:09,040 --> 00:17:11,640 Speaker 1: service type of things, and in fact even manufacturing, Nathan 312 00:17:11,760 --> 00:17:14,840 Speaker 1: what takes you. There are warning times. They're beyond Chinese 313 00:17:14,840 --> 00:17:17,639 Speaker 1: covid er policies. They are warnings that global demand is 314 00:17:17,640 --> 00:17:20,000 Speaker 1: the weakening. So eventually that's going to hit the Chinese 315 00:17:20,000 --> 00:17:23,080 Speaker 1: manufacturers and that's another head wind coming their way. An 316 00:17:23,160 --> 00:17:26,160 Speaker 1: interesting point to make their I gotta wonder whether we're 317 00:17:26,160 --> 00:17:28,679 Speaker 1: seeing something of a sign of recovery, just from the 318 00:17:28,680 --> 00:17:32,240 Speaker 1: fact that Chinese President Shi jin Ping is leaving the mainland, 319 00:17:32,320 --> 00:17:35,040 Speaker 1: is away from the mainland pretty much for the first 320 00:17:35,080 --> 00:17:39,440 Speaker 1: time since the pandemic began. He's in Hong Kong this morning. Yeah, 321 00:17:39,520 --> 00:17:41,560 Speaker 1: we haven't gone very far, I guess from the mainland, 322 00:17:41,560 --> 00:17:44,720 Speaker 1: in which he said, I came here this afternoon. He 323 00:17:44,800 --> 00:17:47,000 Speaker 1: got off and got off a high speed train, and 324 00:17:47,240 --> 00:17:51,320 Speaker 1: in brief remarks, he was basically talking up Hong Kong. 325 00:17:51,359 --> 00:17:53,800 Speaker 1: He spoke about how it's been reborn from the ashes, 326 00:17:54,200 --> 00:17:57,760 Speaker 1: it's showing bigger and vitality. He spoke about how his 327 00:17:57,920 --> 00:18:00,320 Speaker 1: heart is always with the Hong Kongan pageot, and he 328 00:18:00,440 --> 00:18:03,399 Speaker 1: talked up the city's one country, two systems idea. And 329 00:18:03,400 --> 00:18:05,240 Speaker 1: this is meant to be the idea that Hong Kong 330 00:18:05,320 --> 00:18:08,400 Speaker 1: is his pocket of China that has so autonomy from Beijing, 331 00:18:08,400 --> 00:18:09,959 Speaker 1: but of course has to obviously come under a lot 332 00:18:09,960 --> 00:18:12,560 Speaker 1: of stress in recent years, a good political crackdown and 333 00:18:12,600 --> 00:18:15,600 Speaker 1: a big crackdown on civil liberties. Nonetheless, he arrived the 334 00:18:15,680 --> 00:18:19,760 Speaker 1: usual fanfare schoolsure in the waving flagged or a line 335 00:18:19,800 --> 00:18:23,679 Speaker 1: dance he's olfer around town now two various functions. He 336 00:18:23,800 --> 00:18:26,600 Speaker 1: used you to speak again tomorrow at swearing in Hong 337 00:18:26,640 --> 00:18:29,639 Speaker 1: Kong's new chief executive essentially like a mayor, so we 338 00:18:29,720 --> 00:18:32,119 Speaker 1: might get more substantive comments from him there and just 339 00:18:32,160 --> 00:18:34,439 Speaker 1: what he does, what role he does see for Hong 340 00:18:34,520 --> 00:18:36,760 Speaker 1: Kong going forward. Of course, this is coming to mark 341 00:18:36,800 --> 00:18:39,679 Speaker 1: the twenty anniversary since the handover of Hong Kong from 342 00:18:39,720 --> 00:18:43,199 Speaker 1: the UK, with she now back in Hong Kong, and 343 00:18:43,440 --> 00:18:46,639 Speaker 1: what does this visit say about mainland China's grip on 344 00:18:46,680 --> 00:18:49,119 Speaker 1: the city. Where is the pro democracy movement at this 345 00:18:49,200 --> 00:18:53,360 Speaker 1: point they're they're not on the street and they that's 346 00:18:53,480 --> 00:18:56,119 Speaker 1: self evidence. And then these many of them are in jail. 347 00:18:56,359 --> 00:18:58,879 Speaker 1: But there's no doubt that it's symbolically important when he 348 00:18:58,920 --> 00:19:01,680 Speaker 1: had the President of China of in Hong Kong and 349 00:19:01,840 --> 00:19:03,679 Speaker 1: clearly he's down here to send a message to the 350 00:19:03,680 --> 00:19:05,800 Speaker 1: rest of the world. And the message from their perspectiveles 351 00:19:05,800 --> 00:19:09,160 Speaker 1: clearly be that Hong Kong is in maje your international 352 00:19:09,160 --> 00:19:11,920 Speaker 1: and financial and business center in Asia that have the 353 00:19:11,960 --> 00:19:14,520 Speaker 1: full backing of the commonest party in now that that's 354 00:19:14,560 --> 00:19:16,160 Speaker 1: the global message that will be met with a lot 355 00:19:16,160 --> 00:19:18,280 Speaker 1: of skepticism for two reasons. One of course, is the 356 00:19:18,320 --> 00:19:22,440 Speaker 1: ongoing mobility difficulties here, that the quarantine using force upon 357 00:19:22,520 --> 00:19:25,720 Speaker 1: arrival is obviously hammering the international business side of Hong Kong. 358 00:19:25,840 --> 00:19:28,800 Speaker 1: And of course on the ground, the crushing of civil liberty, 359 00:19:28,920 --> 00:19:32,920 Speaker 1: civil liberty is the crackdown on the protomoption movement. All 360 00:19:32,920 --> 00:19:35,960 Speaker 1: of that has really changed, and Sarah moved towards Hong Kong. 361 00:19:36,000 --> 00:19:38,080 Speaker 1: So I think even though he will obviously try to 362 00:19:38,200 --> 00:19:41,320 Speaker 1: send the boosters boosters message for Hong Kong, it will 363 00:19:41,359 --> 00:19:43,600 Speaker 1: probably be met by a fair degree of skepticism both 364 00:19:43,640 --> 00:19:46,199 Speaker 1: locally and globally. Thank you and good having you on 365 00:19:46,280 --> 00:19:48,520 Speaker 1: with us from Hong Kong this morning. And the current 366 00:19:48,880 --> 00:19:52,680 Speaker 1: chief Asia economics correspondent for Bloomberg News. Right now, SMP 367 00:19:52,840 --> 00:19:55,320 Speaker 1: futures are down fifty six points, the drop of one 368 00:19:55,320 --> 00:19:57,320 Speaker 1: and a half percent. Our futures down here and at 369 00:19:57,359 --> 00:20:00,280 Speaker 1: sixty four NASTACK futures down two twenty four points of 370 00:20:00,359 --> 00:20:08,000 Speaker 1: decline of one point nine percent. This is Bloomberg Bloomberg 371 00:20:08,000 --> 00:20:09,680 Speaker 1: eleven three oh weather sunny and warm today with a 372 00:20:09,720 --> 00:20:12,040 Speaker 1: high in your ninety degrees. It's gonna be hotter, more 373 00:20:12,200 --> 00:20:16,080 Speaker 1: humid tomorrow starting July off from the low nineties. Showers 374 00:20:16,080 --> 00:20:19,520 Speaker 1: and thunderstorms possible Saturday. Right now, seventy in Central Park, 375 00:20:25,000 --> 00:20:29,560 Speaker 1: broadcasting live from Bloomberg Interactive Broker Studio in New York, 376 00:20:29,680 --> 00:20:34,280 Speaker 1: Bloomberg Living Free to Washington, d C. Bloomberg On to Boston, 377 00:20:34,440 --> 00:20:37,840 Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg nine 378 00:20:37,920 --> 00:20:40,960 Speaker 1: sixteen to the Country Sirius xm J one nine ten 379 00:20:41,119 --> 00:20:44,639 Speaker 1: and around the blooe to Bloomberg Business and Bloomberg Radio 380 00:20:44,720 --> 00:20:54,040 Speaker 1: dot Com. This is Bloomberg Daybreak. It's five thirty on 381 00:20:54,080 --> 00:20:57,360 Speaker 1: Wall Street. Good morning, I'm Nathan Hagar and I'm Karen Moscow. 382 00:20:57,480 --> 00:20:59,800 Speaker 1: We are just about four hours away from the opening 383 00:20:59,880 --> 00:21:01,560 Speaker 1: you West trading. Let's get you have to date on 384 00:21:01,600 --> 00:21:03,400 Speaker 1: the news you need to know at this hour. Well. 385 00:21:03,520 --> 00:21:06,560 Speaker 1: US futures are falling as we enter the final trading 386 00:21:06,640 --> 00:21:09,879 Speaker 1: day of a rough first half. The SNP five is 387 00:21:09,880 --> 00:21:13,160 Speaker 1: on course where its worst first half since nineteen seventy. 388 00:21:13,520 --> 00:21:17,040 Speaker 1: Victoria Green, chief investment officer at G Squared Private Wealth, 389 00:21:17,080 --> 00:21:20,760 Speaker 1: says the biggest economic risk now is no longer inflation. 390 00:21:21,200 --> 00:21:23,160 Speaker 1: I think Recesstion is a bigger risk by now because 391 00:21:23,200 --> 00:21:26,080 Speaker 1: inflation is quite thin now right, We're halloware We're in 392 00:21:26,080 --> 00:21:28,600 Speaker 1: a high in place in their environment. People are adjusting 393 00:21:28,600 --> 00:21:31,399 Speaker 1: their budget. But Recesstions was going to turn this market 394 00:21:31,480 --> 00:21:34,280 Speaker 1: over because people are starting to change their buying habit. 395 00:21:34,640 --> 00:21:37,840 Speaker 1: Victoria Green at g Squared Private Health It says the 396 00:21:37,840 --> 00:21:41,920 Speaker 1: FEDS as sole focus remains inflation even if it negatively 397 00:21:41,960 --> 00:21:44,840 Speaker 1: impacts markets. Yeah. Well, oils heading for its first monthly 398 00:21:44,880 --> 00:21:48,399 Speaker 1: declined since November. Karen Is OPEC ministers gathered to discuss 399 00:21:48,440 --> 00:21:52,520 Speaker 1: supply policy, escalating fears over in economic slowdown. Have dental 400 00:21:52,600 --> 00:21:55,159 Speaker 1: crude this month? Checking prices now, they're actually up a 401 00:21:55,160 --> 00:21:57,640 Speaker 1: bit on this session. Nimex crudes up at tenth per cent, 402 00:21:57,720 --> 00:22:00,000 Speaker 1: or sixteen cents at a hundred nine dollars ninety seven 403 00:22:00,040 --> 00:22:02,320 Speaker 1: cents of barrel. Brent's higher by a tenth per cent 404 00:22:02,320 --> 00:22:05,000 Speaker 1: at a hundred sixteen dollar forty four cents. Well, Nathan. 405 00:22:05,040 --> 00:22:08,040 Speaker 1: Despite this month's decline, the surgeon oil has elevated inflation 406 00:22:08,080 --> 00:22:10,720 Speaker 1: around the world. Ventier J. Powell says it remains a 407 00:22:10,760 --> 00:22:13,640 Speaker 1: top priority for the Central Bank and that Russia's war 408 00:22:13,720 --> 00:22:16,240 Speaker 1: in Ukraine has made it even harder to bring oil 409 00:22:16,280 --> 00:22:19,119 Speaker 1: prices down and guide the economy to a soft landing 410 00:22:19,640 --> 00:22:24,400 Speaker 1: war in Ukraine, which has added tremendously to inflationary pressures 411 00:22:24,440 --> 00:22:28,400 Speaker 1: around food and energy commodities and agricultural chemicals and industrial 412 00:22:28,480 --> 00:22:31,080 Speaker 1: chemicals and things like that. So it's gotten harder. Of 413 00:22:31,080 --> 00:22:34,159 Speaker 1: the pathways have gotten narrower and fed. Chier J. Powell 414 00:22:34,200 --> 00:22:36,720 Speaker 1: made the comments to Bloomberg's Franci Lanqua and a panel 415 00:22:36,800 --> 00:22:40,320 Speaker 1: discussion at the ECB Forum in Portugal, staying overseas Karen. 416 00:22:40,400 --> 00:22:42,919 Speaker 1: Today marks the final day of the NATO summit in Spain. 417 00:22:43,040 --> 00:22:46,280 Speaker 1: Allies have labeled Russia the most significant and direct threat 418 00:22:46,280 --> 00:22:49,400 Speaker 1: to NATO's security. Bloomberg's Maria Today Oh has more from 419 00:22:49,440 --> 00:22:52,359 Speaker 1: Madrid For NATO. It is back to combat mode, a 420 00:22:52,440 --> 00:22:54,600 Speaker 1: reality check, as I say, And of course that will 421 00:22:54,640 --> 00:22:57,479 Speaker 1: also mean from now on taking that two percent defense 422 00:22:57,520 --> 00:23:01,040 Speaker 1: spending is going to be a big priority four Europeans 423 00:23:01,080 --> 00:23:03,159 Speaker 1: in particular, if they don't want to take security for 424 00:23:03,240 --> 00:23:07,000 Speaker 1: granted anymore. Bloomberg's Todayo says Russia wasn't the sole focused 425 00:23:07,080 --> 00:23:11,879 Speaker 1: NATO says China also presents security concerns, and back in Washington, Nathan. 426 00:23:11,880 --> 00:23:15,080 Speaker 1: The House investigation into the attack at the US Capital 427 00:23:15,160 --> 00:23:17,919 Speaker 1: is wrapping up. The January six committee has issued as 428 00:23:17,920 --> 00:23:21,159 Speaker 1: a peanut of former White House Council Pat Sabloni. It 429 00:23:21,280 --> 00:23:25,119 Speaker 1: comes following testimony from Cassidy Hutchinson on aid to former 430 00:23:25,200 --> 00:23:28,879 Speaker 1: Chief of Staff Mark Meadows, and as straight ahead, we 431 00:23:29,040 --> 00:23:32,639 Speaker 1: have your local headlines plus a check of sports, and 432 00:23:32,960 --> 00:23:39,920 Speaker 1: this is Bloomberg. Thank you, Caring. It's five thirty three 433 00:23:39,960 --> 00:23:42,600 Speaker 1: on Wall Street where it's seventy degrees in Central Park. 434 00:23:42,640 --> 00:23:45,719 Speaker 1: We've got an accident on the westbound Cross Bronx Expressway 435 00:23:45,760 --> 00:23:49,439 Speaker 1: at the Hamilton Bridge. Details coming up in traffic first. 436 00:23:49,520 --> 00:23:51,680 Speaker 1: Michael Barr with more on what's going on in New 437 00:23:51,760 --> 00:23:54,600 Speaker 1: York and around the world. Michael Nathan, thank you very much. 438 00:23:54,680 --> 00:23:56,440 Speaker 1: The n y p D says it's one of year 439 00:23:56,480 --> 00:23:59,480 Speaker 1: older woman was fatally shot last night while she pushed 440 00:23:59,520 --> 00:24:02,280 Speaker 1: her in for daughter in a stroller on Manhattan's Upper 441 00:24:02,320 --> 00:24:06,800 Speaker 1: east Side and happened on Lexington Avenue in St. NYPD 442 00:24:06,880 --> 00:24:10,320 Speaker 1: Commissioner Teaching Souls says the suspect is described as a 443 00:24:10,440 --> 00:24:14,040 Speaker 1: male dressed in a hoodie, sweatpants and baseball cap, all 444 00:24:14,080 --> 00:24:18,000 Speaker 1: in black. Our preliminary investigation revealed the twenty year old 445 00:24:18,040 --> 00:24:20,919 Speaker 1: victim was pushing an approximately three month old in a 446 00:24:20,920 --> 00:24:25,840 Speaker 1: baby stroller on East Street when an unknown person approached 447 00:24:25,840 --> 00:24:28,360 Speaker 1: her and fired a single shot into her head from 448 00:24:28,400 --> 00:24:31,960 Speaker 1: a very close range. Mayor Eric Adams said during the 449 00:24:32,040 --> 00:24:35,000 Speaker 1: news car friends at the site of the shooting that 450 00:24:35,160 --> 00:24:38,800 Speaker 1: more guns in our city means more lives lost. Thirty 451 00:24:38,840 --> 00:24:42,360 Speaker 1: three hundred guns, we move off all streets that we're 452 00:24:42,359 --> 00:24:45,200 Speaker 1: not allowed to hurt innocent people. We're going to continue 453 00:24:45,200 --> 00:24:49,320 Speaker 1: to move forward, but we do need help from Washington, 454 00:24:49,880 --> 00:24:53,920 Speaker 1: from the state male criminal justice system. Mayor Adams says 455 00:24:54,000 --> 00:24:56,320 Speaker 1: the three month old baby was not hurt. It's a 456 00:24:56,400 --> 00:24:58,639 Speaker 1: changing of the guard at the Supreme Court as it 457 00:24:58,680 --> 00:25:01,399 Speaker 1: wraps up a shocking to marked by the decision to 458 00:25:01,440 --> 00:25:05,040 Speaker 1: overturn Roe v. Wade after twenty eight years, Justice Stephen 459 00:25:05,040 --> 00:25:08,159 Speaker 1: Bryer will formally pass the George to Katangi Brown Jackson. 460 00:25:08,560 --> 00:25:11,040 Speaker 1: She will officially become the first black woman on the 461 00:25:11,119 --> 00:25:13,920 Speaker 1: United States Supreme Court. She will also be the fourth 462 00:25:13,960 --> 00:25:17,000 Speaker 1: woman on the Supreme Court. Heading into the full term, 463 00:25:17,040 --> 00:25:19,520 Speaker 1: the death toll from one of the deadliest human smuggling 464 00:25:19,560 --> 00:25:22,800 Speaker 1: operations in US history climbed to fifty three, with more 465 00:25:22,840 --> 00:25:25,960 Speaker 1: than a dozen people injured. In San Antonio, the migrants 466 00:25:25,960 --> 00:25:28,600 Speaker 1: were found in a smeltering tractor trailer. Four men have 467 00:25:28,680 --> 00:25:31,240 Speaker 1: been charged. A big drug bust in the Bronx was 468 00:25:31,240 --> 00:25:35,160 Speaker 1: announced yesterday. A multi agency strike team raided an apartment 469 00:25:35,440 --> 00:25:39,120 Speaker 1: in the Mount Hope neighborhood. Law enforcement confiscated over two 470 00:25:39,200 --> 00:25:43,680 Speaker 1: hundred fifty pounds of narcotics, including heroin, cocaine, ventenel, and 471 00:25:43,720 --> 00:25:46,679 Speaker 1: crystal meth, worth about four million dollars. On the Street 472 00:25:47,040 --> 00:25:49,520 Speaker 1: Global News twenty four hours a day on air and 473 00:25:49,680 --> 00:25:52,960 Speaker 1: on Bloomberg Quickdake, powered by more than twenty seven hundred 474 00:25:53,000 --> 00:25:55,720 Speaker 1: journalists and analysts more than a hundred twenty countries. Hi, 475 00:25:55,840 --> 00:26:03,880 Speaker 1: Michael barn this is Bloomberg. Nathan, Okay, Michael. Thanks, it's 476 00:26:03,880 --> 00:26:06,199 Speaker 1: not five thirty five on Wall Street. That's time for 477 00:26:06,280 --> 00:26:10,719 Speaker 1: the Bloomberg Sports Update. Good morning, Scott Seedinberg, Good morning Napian, 478 00:26:10,800 --> 00:26:14,080 Speaker 1: Gian Carlos Stanton and Aaron Judge bulk homering as the 479 00:26:14,119 --> 00:26:17,120 Speaker 1: Bombers finished off a sweep of the A's five three 480 00:26:17,480 --> 00:26:20,479 Speaker 1: the Yankees twenty five and one. When Judge and Stanton 481 00:26:20,560 --> 00:26:23,359 Speaker 1: homer in the same game, including not even though this 482 00:26:23,520 --> 00:26:26,200 Speaker 1: season you know, was Aaron Judge. You know, we know 483 00:26:26,320 --> 00:26:28,119 Speaker 1: what's ahead of us. You know, we know it's halfway 484 00:26:28,119 --> 00:26:30,439 Speaker 1: through the year now, and um, still a long way 485 00:26:30,480 --> 00:26:33,160 Speaker 1: to go. But you know, everyone's important. You know, I've 486 00:26:33,160 --> 00:26:35,560 Speaker 1: just been so many years. We look back and you know, 487 00:26:35,720 --> 00:26:38,200 Speaker 1: we're getting down to in September and it's like we're fighting, 488 00:26:38,240 --> 00:26:39,760 Speaker 1: and call on, we're half the game out, half a 489 00:26:39,800 --> 00:26:42,959 Speaker 1: game up, and I think, gosh, you're starting to realize important. Said, hey, 490 00:26:43,119 --> 00:26:45,119 Speaker 1: you know even these you know we won the series, 491 00:26:45,160 --> 00:26:46,800 Speaker 1: but this third game and it means a lot down 492 00:26:46,840 --> 00:26:49,720 Speaker 1: the road. Yankees will play one game in Houston tonight 493 00:26:49,800 --> 00:26:52,880 Speaker 1: before heading to Cleveland for a weekend series. Luis Severino 494 00:26:53,000 --> 00:26:55,800 Speaker 1: will get the start. The Mets meanwhile, lost a pitchers 495 00:26:55,880 --> 00:26:59,119 Speaker 1: duel to the Astros tone nothing yesterday justin Berlander when 496 00:26:59,200 --> 00:27:01,160 Speaker 1: eight shut out and in Is allowing just two hits, 497 00:27:01,560 --> 00:27:04,280 Speaker 1: and Taiwan Walker matched him, going seven and a third 498 00:27:04,320 --> 00:27:07,960 Speaker 1: shutout innings, allowing just before hits. Jason Castro's two run 499 00:27:08,040 --> 00:27:09,680 Speaker 1: homer off of Drew Smith on the top of the 500 00:27:09,800 --> 00:27:12,520 Speaker 1: ninth was the difference. The Mets are off tonight. They 501 00:27:12,560 --> 00:27:16,159 Speaker 1: host the Rangers tomorrow night at Wimbledon Novak Djokovic cruised 502 00:27:16,240 --> 00:27:19,280 Speaker 1: in straight sets. Three seed Casper Rude was upset by 503 00:27:19,440 --> 00:27:23,320 Speaker 1: Ugo Umbert, and American John Isner defeated two time champion 504 00:27:23,400 --> 00:27:26,920 Speaker 1: Andy Murray the second round exit the earliest exit for 505 00:27:27,040 --> 00:27:29,920 Speaker 1: Murray at the All England Club. I'm Scott Seedinberg with 506 00:27:29,960 --> 00:27:33,440 Speaker 1: Bloomberg Sports. Nathan. Thank you, Scott. It's just about five 507 00:27:33,520 --> 00:27:35,719 Speaker 1: thirty seven on Wall Street time now for the Tri 508 00:27:35,920 --> 00:27:39,160 Speaker 1: State Business Report. For that we joined by Bloomberg's at Corey. 509 00:27:39,800 --> 00:27:43,160 Speaker 1: Union negotiators and casino management are trying to reach new 510 00:27:43,240 --> 00:27:46,439 Speaker 1: contracts to avoid a strike during one of Atlantic City's 511 00:27:46,480 --> 00:27:50,840 Speaker 1: busiest weekends. Local fifty four of the Unite Here unions 512 00:27:50,880 --> 00:27:53,240 Speaker 1: at a deadline of twelve o one a m. Friday 513 00:27:53,760 --> 00:27:57,200 Speaker 1: to reach a new agreement with the Borgata, Caesar's Haras 514 00:27:57,280 --> 00:28:00,560 Speaker 1: and Trompicana. The Hard Rock faces a similar or deadline 515 00:28:00,560 --> 00:28:04,159 Speaker 1: early Sunday. New Jersey's lowest earning families could receive up 516 00:28:04,200 --> 00:28:07,040 Speaker 1: to five hundred dollars a year for each child under 517 00:28:07,080 --> 00:28:09,679 Speaker 1: the age of six under a new tax credit program 518 00:28:09,760 --> 00:28:13,680 Speaker 1: passed by state lawmakers on Wednesday. The proposal was among 519 00:28:13,840 --> 00:28:17,440 Speaker 1: several tax measures approved by state lawmakers in Trenton, New 520 00:28:17,520 --> 00:28:19,560 Speaker 1: York State is stepping up over the side of the 521 00:28:19,640 --> 00:28:23,760 Speaker 1: market for non fungible tokens. The Superintendent of the Department 522 00:28:23,800 --> 00:28:26,840 Speaker 1: of Financial Services plans to issue new guidance on how 523 00:28:26,920 --> 00:28:29,800 Speaker 1: it's rules apply to those n f t s. Regulator 524 00:28:29,840 --> 00:28:34,480 Speaker 1: recently released guidelines on stable coins and blockchain analytics are 525 00:28:34,520 --> 00:28:38,000 Speaker 1: Bloomberg Try State Business report by Ed Corey thanks said, 526 00:28:38,040 --> 00:28:40,480 Speaker 1: it's five thirty eight on Wall Street. Bloomberg Radio is 527 00:28:40,520 --> 00:28:42,920 Speaker 1: on the air from San Francisco to New York, London 528 00:28:43,000 --> 00:28:45,240 Speaker 1: to Hong Kong. Let's check in with our global news 529 00:28:45,320 --> 00:28:47,200 Speaker 1: team for some of the top stories heard on our 530 00:28:47,240 --> 00:28:53,240 Speaker 1: three hundred affiliate radio stations around the world. I'm Steve 531 00:28:53,360 --> 00:28:56,080 Speaker 1: Polus and on tent ten Wins in New York. We're 532 00:28:56,120 --> 00:28:59,760 Speaker 1: talking about Spirit Airlines again delaying a shareholder vote on 533 00:29:00,080 --> 00:29:03,760 Speaker 1: peeting bids from Jet Blue and Frontier. I'm Joan Doddager 534 00:29:03,840 --> 00:29:07,120 Speaker 1: telling a r l D listeners in Dallas. WEMO was 535 00:29:07,240 --> 00:29:10,360 Speaker 1: opening a new self driving truck a pot in the area. 536 00:29:10,600 --> 00:29:14,360 Speaker 1: I'm Gina Servettian for w c CEO in Minneapolis. I'm 537 00:29:14,440 --> 00:29:18,120 Speaker 1: reporting that the city is among the largest metro areas 538 00:29:18,160 --> 00:29:22,120 Speaker 1: in the country where home ownership is still considered affordable. 539 00:29:22,280 --> 00:29:25,440 Speaker 1: I'm callein Headcom Bloombag Dave Digital Radio in London. We've 540 00:29:25,480 --> 00:29:28,560 Speaker 1: been speaking to the CEO of Van God Gregg Davis 541 00:29:28,640 --> 00:29:32,640 Speaker 1: about inflation and missession. Miss I'm mid Cory on ww 542 00:29:32,920 --> 00:29:36,480 Speaker 1: J Detroit. I'm reporting Stelland who says the auto industry 543 00:29:36,640 --> 00:29:40,400 Speaker 1: is doomed and less electric vehicles get less expensive. And 544 00:29:40,560 --> 00:29:42,880 Speaker 1: those are some of the stories are twenty seven hundred 545 00:29:42,920 --> 00:29:45,760 Speaker 1: Bloomberg journalists and analysts are working on this morning around 546 00:29:45,800 --> 00:29:48,680 Speaker 1: the world. It's five thirty nine on Wall Street. The 547 00:29:48,800 --> 00:29:53,400 Speaker 1: following is an editorial from Bloomberg Opinion. This editorial was 548 00:29:53,560 --> 00:29:57,680 Speaker 1: written by the Bloomberg Editorial Board in broad outline. The 549 00:29:57,760 --> 00:30:01,520 Speaker 1: events of January six, twenty twenty one have been clear 550 00:30:01,800 --> 00:30:05,440 Speaker 1: for some time, yet the details still have the power 551 00:30:05,720 --> 00:30:08,920 Speaker 1: to shock. So it was Tuesday when a White House 552 00:30:08,960 --> 00:30:14,200 Speaker 1: aid delivered explosive testimony before the House committee investigating the riot. 553 00:30:14,720 --> 00:30:17,160 Speaker 1: Whether Trump broke the law will be a matter for 554 00:30:17,480 --> 00:30:21,800 Speaker 1: the Justice Department, but for now, it's worth remembering those 555 00:30:21,920 --> 00:30:25,960 Speaker 1: who acted with propriety in the months after the election, 556 00:30:26,360 --> 00:30:29,720 Speaker 1: including on the day of the riot, at every level, 557 00:30:29,800 --> 00:30:33,560 Speaker 1: from local lawmakers to federal judges. There were people in 558 00:30:33,760 --> 00:30:38,440 Speaker 1: consequential positions who did the right thing. Their commitment to 559 00:30:38,520 --> 00:30:42,640 Speaker 1: democracy ensured that the system mostly held up in the end. 560 00:30:43,320 --> 00:30:46,760 Speaker 1: That's a low bar, to be sure, but it's nonetheless 561 00:30:47,000 --> 00:30:51,360 Speaker 1: a fitting rejoinder to the most lawless and reckless presidency 562 00:30:51,880 --> 00:30:56,360 Speaker 1: in memory. This editorial was written by the Bloomberg Editorial Board. 563 00:30:56,400 --> 00:30:59,120 Speaker 1: For more Bloomberg opinion, please go to Bloomberg dot com, 564 00:30:59,280 --> 00:31:02,640 Speaker 1: slash Indian or O P I n go on the 565 00:31:02,680 --> 00:31:07,080 Speaker 1: Bloomberg terminal. This has been Bloomberg Opinion. Listen for Bloomberg 566 00:31:07,120 --> 00:31:10,680 Speaker 1: opinion editorials every weekday. At this time, terminal customers can 567 00:31:10,800 --> 00:31:15,280 Speaker 1: read more at O P I n go. Futures moving 568 00:31:15,360 --> 00:31:23,320 Speaker 1: lower on this Thursday morning. This is Bloomberg Bloomberg eleven 569 00:31:23,360 --> 00:31:25,160 Speaker 1: three oh Weather. Sunny and warm today with the hind 570 00:31:25,240 --> 00:31:27,800 Speaker 1: the upper eighties. It'll be hotter and more humid tomorrow, 571 00:31:27,880 --> 00:31:31,440 Speaker 1: low nineties. Could see occasional showers and storms Saturday, with 572 00:31:31,520 --> 00:31:33,959 Speaker 1: a high near eight five Right now seventy in Central 573 00:31:34,000 --> 00:31:40,360 Speaker 1: Park markets. Headlines and breaking news twenty four hours a 574 00:31:40,480 --> 00:31:43,440 Speaker 1: day at Bloomberg dot Com, the Bloomberg Business At and 575 00:31:43,640 --> 00:31:53,480 Speaker 1: at Bloomberg Quicktape. This is a Bloomberg business lash and 576 00:31:53,560 --> 00:31:56,960 Speaker 1: I'm Karen Moscow. European stocks falling along with US stock 577 00:31:57,000 --> 00:32:00,360 Speaker 1: index futures after central bankers issued warnings on in elation 578 00:32:00,440 --> 00:32:03,719 Speaker 1: and field, concerned that aggressive policy will end in recession. 579 00:32:04,040 --> 00:32:06,440 Speaker 1: We check the markets every fifteen minutes throughout the trading 580 00:32:06,520 --> 00:32:09,680 Speaker 1: day on Bloomberg SMP future is down to fifty five 581 00:32:09,720 --> 00:32:12,320 Speaker 1: points this morning. Down futures down three hundred and fifty 582 00:32:12,440 --> 00:32:16,280 Speaker 1: two NASDACK futures down two hundred fifteen or one point 583 00:32:16,400 --> 00:32:19,480 Speaker 1: eight percent. The decks in Germany is down two point 584 00:32:19,600 --> 00:32:22,080 Speaker 1: four percent, the cat in Paris down two point three percent. 585 00:32:22,160 --> 00:32:24,480 Speaker 1: In the foot Sea one hundred down one point eight percent. 586 00:32:24,840 --> 00:32:27,360 Speaker 1: Ten year treasury up ten thirty seconds, he'll three point 587 00:32:27,400 --> 00:32:29,520 Speaker 1: oh five percent. The yield on the two year two 588 00:32:29,600 --> 00:32:32,640 Speaker 1: point nine nine percent. Ni Max screwed oil is down 589 00:32:32,680 --> 00:32:34,520 Speaker 1: three tens per cent or thirty five cents at a 590 00:32:34,600 --> 00:32:37,080 Speaker 1: hundred nine dollars forty one cents of barrel. Call Max 591 00:32:37,120 --> 00:32:39,640 Speaker 1: school an a quarter percent or five dollars. At eighteen 592 00:32:39,720 --> 00:32:42,880 Speaker 1: twelve sixty announced the euro one point oh four three 593 00:32:42,920 --> 00:32:45,320 Speaker 1: one against the dollar. British found one point two one 594 00:32:45,480 --> 00:32:48,560 Speaker 1: three zero, and again at one thirty six point three one. 595 00:32:48,680 --> 00:32:50,760 Speaker 1: And look at bitcoin. It's down more than it's a 596 00:32:50,800 --> 00:32:53,360 Speaker 1: down about five and a half percent. It's in nineteen 597 00:32:53,480 --> 00:32:56,520 Speaker 1: thousand ninety dollars. Today we do get reports on personal 598 00:32:56,600 --> 00:32:58,960 Speaker 1: income and spending there at a day thirty Wall Street time, 599 00:32:59,000 --> 00:33:01,760 Speaker 1: along with the weekly report, an initial jobless claims and 600 00:33:01,840 --> 00:33:05,480 Speaker 1: Walgreen's boosts alliance among companies schedule to report earnings today. 601 00:33:05,960 --> 00:33:08,560 Speaker 1: That's a Bloomberg business flash. Now here's Michael Barrow with 602 00:33:08,760 --> 00:33:11,920 Speaker 1: Moore on what's going on around the world. Michael Karen, 603 00:33:12,000 --> 00:33:15,400 Speaker 1: thank you very much. Today is Supreme Court Justice Stephen 604 00:33:15,480 --> 00:33:19,320 Speaker 1: Bryer's last day and Katangi Brown Jackson's first. She will 605 00:33:19,360 --> 00:33:21,760 Speaker 1: be sworn in as the first black woman to sit 606 00:33:21,840 --> 00:33:25,840 Speaker 1: on the nation's High Court. Meanwhile, the Supreme Court will 607 00:33:26,040 --> 00:33:30,360 Speaker 1: make its final opinions on two cases involving the environment 608 00:33:30,720 --> 00:33:34,360 Speaker 1: and immigration. Chinese leader Shi Jingping was welcomed by a 609 00:33:34,400 --> 00:33:37,760 Speaker 1: crowd of people waving flags in Hong Kong today. She 610 00:33:38,120 --> 00:33:41,160 Speaker 1: is there for the anniversary of Britain's handover of the 611 00:33:41,240 --> 00:33:44,560 Speaker 1: port city. Hong Kong has undergone two years of stricter 612 00:33:44,760 --> 00:33:49,240 Speaker 1: communist control by Beijing. In baseball, the Yankees beat the 613 00:33:49,360 --> 00:33:51,960 Speaker 1: A's five three, the Mats lost along with the nationals, 614 00:33:51,960 --> 00:33:55,120 Speaker 1: Orioles and Giants. The Red Sox one Global News twenty 615 00:33:55,160 --> 00:33:57,880 Speaker 1: four hours a day on air and on Bloomberg Quicktake, 616 00:33:58,120 --> 00:34:01,240 Speaker 1: powered by more than a journalist and analyst more than 617 00:34:01,640 --> 00:34:04,880 Speaker 1: twenty countries. Michael Varn this is Bloomberg Naked. Thank you, Michael. 618 00:34:04,920 --> 00:34:06,840 Speaker 1: It is five forty nine on Wall Street Live from 619 00:34:06,840 --> 00:34:10,320 Speaker 1: the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak. We 620 00:34:10,400 --> 00:34:12,200 Speaker 1: want to get to the latest now on the NATO 621 00:34:12,320 --> 00:34:15,880 Speaker 1: summit in Madrid, now into its final day. Bloomberg's Maria Today, 622 00:34:15,880 --> 00:34:18,279 Speaker 1: I was part of our team of correspondence covering the 623 00:34:18,360 --> 00:34:21,800 Speaker 1: gathering in her hometown of Madrid, and joins US live Maria. 624 00:34:21,880 --> 00:34:25,560 Speaker 1: Good morning. As the NATO ministers gather, we are getting 625 00:34:25,600 --> 00:34:28,360 Speaker 1: this late word from Russia that it's pulling some of 626 00:34:28,440 --> 00:34:31,560 Speaker 1: its troops from a strategic island in the Black Sea, 627 00:34:31,680 --> 00:34:35,319 Speaker 1: the Snake Island. How is that factoring into the discussions 628 00:34:35,360 --> 00:34:38,320 Speaker 1: that we're hearing from NATO, where we've seen a pretty 629 00:34:38,560 --> 00:34:43,720 Speaker 1: strong unity against Russia. Listen, I'd be very very grateful 630 00:34:43,760 --> 00:34:46,760 Speaker 1: to assume that this is Russia acting in goodwill, because 631 00:34:46,760 --> 00:34:50,000 Speaker 1: if you think back in time, the last time Russias 632 00:34:50,040 --> 00:34:53,440 Speaker 1: as with pulling back troops, it was the Ukrainian capital, 633 00:34:53,560 --> 00:34:56,120 Speaker 1: it was Kiev. And the reason why that happened is 634 00:34:56,200 --> 00:34:58,640 Speaker 1: not goodwill or the fact that Russians wanted to de 635 00:34:58,840 --> 00:35:01,720 Speaker 1: escalate because of On the opposite, it was the fierce 636 00:35:01,800 --> 00:35:05,120 Speaker 1: resistance being encountered by the Ukrainian army, which is a 637 00:35:05,239 --> 00:35:08,440 Speaker 1: professionally trained army now for eight years, and they can 638 00:35:08,520 --> 00:35:10,799 Speaker 1: put up a fight, and the Russians say, now they're 639 00:35:10,840 --> 00:35:13,800 Speaker 1: pulling away. Some troops are from the Black Seat to 640 00:35:13,960 --> 00:35:17,880 Speaker 1: help with the grain transportation, to alleviate some of the 641 00:35:17,960 --> 00:35:21,120 Speaker 1: concerns on the agriculture front. It does seem that this 642 00:35:21,360 --> 00:35:25,320 Speaker 1: could be a perfect excuse to pull away from what 643 00:35:25,520 --> 00:35:27,719 Speaker 1: is now a difficult fight in the Black Seat for 644 00:35:27,880 --> 00:35:30,399 Speaker 1: the Russian Army. So at times, I would be very 645 00:35:30,520 --> 00:35:34,200 Speaker 1: careful to take Russia at faith Valley. What they say 646 00:35:34,239 --> 00:35:36,080 Speaker 1: and what they do is, you know, at times is 647 00:35:36,120 --> 00:35:39,320 Speaker 1: a very considered contradiction. And it's interesting as well to 648 00:35:39,400 --> 00:35:42,680 Speaker 1: see this move from Russia Maria, when we've seen from 649 00:35:43,000 --> 00:35:46,400 Speaker 1: NATO this massive expansion of the Rapid Response Force to 650 00:35:46,840 --> 00:35:51,360 Speaker 1: three thousand troops, and now Sweden and Finland being added 651 00:35:51,400 --> 00:35:54,000 Speaker 1: to the fold for the alliance. How is this being 652 00:35:54,120 --> 00:35:59,120 Speaker 1: viewed in terms of placing NATO against the Russian threat? 653 00:36:00,320 --> 00:36:02,520 Speaker 1: This and I think that NATO repeats something is that 654 00:36:03,000 --> 00:36:06,080 Speaker 1: we're not a We're not gonna attack anyone. NATO by 655 00:36:06,160 --> 00:36:09,239 Speaker 1: definition is a defensive military alliance, but we have to 656 00:36:09,320 --> 00:36:12,560 Speaker 1: be ready to be attacked. I think it really this 657 00:36:12,719 --> 00:36:15,600 Speaker 1: is something that for country perhaps that are far away 658 00:36:15,640 --> 00:36:18,000 Speaker 1: from the action in Ukraine, it's almost hard to understand 659 00:36:18,000 --> 00:36:21,200 Speaker 1: that there's certain actual war going on in continental Europe. 660 00:36:21,280 --> 00:36:23,640 Speaker 1: But this is on a two hour flight from where 661 00:36:23,719 --> 00:36:26,640 Speaker 1: we are, and and you're looking at a situation in 662 00:36:26,680 --> 00:36:30,400 Speaker 1: which a country Russia by sports, is trying to rerun 663 00:36:30,480 --> 00:36:34,359 Speaker 1: a line from from another summary nation. So NATO says, 664 00:36:34,440 --> 00:36:37,200 Speaker 1: we have to be prepared to combat this, and this 665 00:36:37,440 --> 00:36:40,480 Speaker 1: is a world that's becoming more competitive, more dangerous, and 666 00:36:40,560 --> 00:36:43,120 Speaker 1: therefore we're not going to attack anyone, but we have 667 00:36:43,280 --> 00:36:46,480 Speaker 1: to be ready to put into effect troops in the 668 00:36:46,560 --> 00:36:49,480 Speaker 1: grounds that could defend our native territory if there was 669 00:36:49,560 --> 00:36:52,680 Speaker 1: to be a sail over an escalation into native territory. 670 00:36:53,000 --> 00:36:56,200 Speaker 1: And we've gotten some reaction from Russian President Putin to 671 00:36:56,600 --> 00:36:59,879 Speaker 1: Sweden and Finland joining NATO. He's saying that there, well 672 00:37:00,040 --> 00:37:03,959 Speaker 1: come to join. What's your read on that, Maria, Listen 673 00:37:04,080 --> 00:37:07,240 Speaker 1: to me. It is incredible the landamer putting ghost yesterday 674 00:37:07,600 --> 00:37:10,120 Speaker 1: on tape. He doesn't injury and he says we're not 675 00:37:10,280 --> 00:37:14,040 Speaker 1: too concerned with Finland and Sweden joining. That's two powerful 676 00:37:14,160 --> 00:37:17,160 Speaker 1: countries with also a big army in the Nordics. And 677 00:37:17,239 --> 00:37:19,080 Speaker 1: he says it's not a big deal for him if 678 00:37:19,160 --> 00:37:21,759 Speaker 1: you go back in tanks. Five months ago. The reason 679 00:37:21,840 --> 00:37:24,360 Speaker 1: why he said this ward with starting in Ukraine because 680 00:37:24,400 --> 00:37:27,480 Speaker 1: he was upset, he was angry about native expansion. Now 681 00:37:27,520 --> 00:37:29,800 Speaker 1: when it comes to Sweden and Finland, it's not a 682 00:37:29,880 --> 00:37:32,640 Speaker 1: problem with the self. You is in some ways that 683 00:37:32,880 --> 00:37:36,480 Speaker 1: Ukraine if personal for him, that this is about something 684 00:37:36,560 --> 00:37:40,160 Speaker 1: that goes beyond a military aspect. This is Russia believe 685 00:37:40,239 --> 00:37:43,600 Speaker 1: in the Ukraine is one people, that the Russian people 686 00:37:43,920 --> 00:37:46,680 Speaker 1: the Ukrainian people are one, and it's almost this idea 687 00:37:46,680 --> 00:37:50,040 Speaker 1: of back to the ussr Ukraine cannot be separated from Russia. 688 00:37:50,320 --> 00:37:52,759 Speaker 1: The other thing is it also tells you the limitations 689 00:37:52,800 --> 00:37:56,560 Speaker 1: of the Russian army. They're really struggling to deal with Ukraine, 690 00:37:56,560 --> 00:37:59,200 Speaker 1: which is a big country. In size, also a big population, 691 00:37:59,520 --> 00:38:02,480 Speaker 1: but to e that they could potentially fathe and and 692 00:38:02,640 --> 00:38:05,160 Speaker 1: deal with two more countries and fight on three fronts. 693 00:38:05,400 --> 00:38:08,120 Speaker 1: I think at this point that it's very realistic considering 694 00:38:08,200 --> 00:38:10,640 Speaker 1: how difficult this is for Russia. This teach only thirty 695 00:38:10,680 --> 00:38:12,560 Speaker 1: seconds left here, Maria, what are we watching for on 696 00:38:12,600 --> 00:38:16,200 Speaker 1: this final day of the summit, Well, it's President Biden essentially, 697 00:38:16,320 --> 00:38:18,600 Speaker 1: That's That's when it comes down to this is of course, 698 00:38:18,760 --> 00:38:20,719 Speaker 1: the biggest country in the Native Alliance is the one 699 00:38:20,760 --> 00:38:23,280 Speaker 1: that spends the most, is seen as the biggest military 700 00:38:23,360 --> 00:38:25,600 Speaker 1: power in the world. Will be interested to see what 701 00:38:25,719 --> 00:38:28,600 Speaker 1: he says on China and Russia, by the way, yeah, 702 00:38:28,719 --> 00:38:32,120 Speaker 1: certainly will be. Maria today or Bloomberg corresponded with us 703 00:38:32,239 --> 00:38:35,120 Speaker 1: this morning from Madrid on this final day of the 704 00:38:35,200 --> 00:38:38,440 Speaker 1: NATO summit. Maria, thank you, Karen, Sorry, Nathan, thank you. 705 00:38:38,640 --> 00:38:41,000 Speaker 1: It is five fifty three on Wall Street. Time for 706 00:38:41,080 --> 00:38:43,720 Speaker 1: a legal story. We're watching this morning. There's a battle 707 00:38:43,800 --> 00:38:47,240 Speaker 1: over redistricting playing out across the country, and on Tuesday, 708 00:38:47,320 --> 00:38:49,960 Speaker 1: the Supreme Court used the shadow docket to reinstate a 709 00:38:50,000 --> 00:38:53,920 Speaker 1: Republican drawn congressional map in Louisiana that a federal judge 710 00:38:54,000 --> 00:38:57,239 Speaker 1: said dilutes the power of black voters, just as the 711 00:38:57,320 --> 00:38:59,759 Speaker 1: court had done in a similar case involving an al 712 00:38:59,800 --> 00:39:02,680 Speaker 1: of um a map in February. There was no explanation 713 00:39:02,760 --> 00:39:05,560 Speaker 1: for the course decision, which was down ideological lines six 714 00:39:05,640 --> 00:39:08,880 Speaker 1: to three from more Bloomberg's Jon Grass speaks to Derek Muller, 715 00:39:08,920 --> 00:39:12,520 Speaker 1: a professor at Iowa Law School. Louisiana has six members 716 00:39:12,560 --> 00:39:16,439 Speaker 1: of Congress, but only one of the districts is majority black, 717 00:39:16,600 --> 00:39:20,520 Speaker 1: even though blacks make up one third of the state's voters. 718 00:39:21,280 --> 00:39:25,040 Speaker 1: Isn't it fairly obvious that this Republican drawn map dilutes 719 00:39:25,120 --> 00:39:27,719 Speaker 1: the votes of blacks in that state. Well, I think 720 00:39:27,760 --> 00:39:31,080 Speaker 1: the Republicans in this case argued, Look, if you look 721 00:39:31,120 --> 00:39:34,759 Speaker 1: at how the black voters are dispersed throughout the state, 722 00:39:34,960 --> 00:39:37,799 Speaker 1: they're more spread out than you might find in other 723 00:39:37,880 --> 00:39:40,440 Speaker 1: parts of the country where they might be more concentrated. 724 00:39:40,600 --> 00:39:43,400 Speaker 1: And so one of the things that the challengers pointed 725 00:39:43,440 --> 00:39:46,120 Speaker 1: out here is to say, look, when you're drawing a map, 726 00:39:46,239 --> 00:39:49,480 Speaker 1: one of the things you require is compactness, and if 727 00:39:49,560 --> 00:39:53,200 Speaker 1: you can't have a compact population, um, you're starting to 728 00:39:53,400 --> 00:39:56,759 Speaker 1: draw districts on the basis of race and that's an 729 00:39:56,760 --> 00:39:59,880 Speaker 1: improper racial jerrymander. So it's really a battle of expert 730 00:40:00,000 --> 00:40:02,600 Speaker 1: cestimony to try to figure out how much is too 731 00:40:02,680 --> 00:40:07,240 Speaker 1: much when focusing on attention to race and drawing compact districts. 732 00:40:07,640 --> 00:40:10,600 Speaker 1: So what's your take on what should be done with 733 00:40:10,680 --> 00:40:13,160 Speaker 1: this map? I think it's tough. I think both this 734 00:40:13,280 --> 00:40:16,560 Speaker 1: map and the Alabama map points are some very hard questions. 735 00:40:16,600 --> 00:40:21,360 Speaker 1: In both cases, the black population has risen significantly and 736 00:40:21,560 --> 00:40:24,600 Speaker 1: yet additional congressional districts have not been created to give 737 00:40:24,640 --> 00:40:28,040 Speaker 1: them opportunities. Whereas on the flip side, um, there's pretty 738 00:40:28,040 --> 00:40:31,880 Speaker 1: persuasive evidence that when computer simulations are drawn and you 739 00:40:32,200 --> 00:40:35,440 Speaker 1: input a bunch of neutral criteria in and they simulate 740 00:40:35,520 --> 00:40:38,120 Speaker 1: ten thousand maps, there are zero maps that give you 741 00:40:38,520 --> 00:40:41,719 Speaker 1: too majority black districts. So that would suggests then that 742 00:40:41,800 --> 00:40:43,320 Speaker 1: there's a little bit of a thumb on the scale 743 00:40:43,360 --> 00:40:46,359 Speaker 1: with a race conscious decision. So underline, the Voting Rights 744 00:40:46,400 --> 00:40:48,759 Speaker 1: Act is this question about trying to make sure that 745 00:40:48,840 --> 00:40:52,480 Speaker 1: we have opportunities for black voters and questions how much 746 00:40:52,560 --> 00:40:55,800 Speaker 1: we can focus on race in cases like these? Have 747 00:40:56,000 --> 00:41:01,520 Speaker 1: the courts conservatives generally been hostile to voting rights plaintiffs 748 00:41:01,640 --> 00:41:04,680 Speaker 1: and to the Voting Rights Act, And so is this 749 00:41:05,040 --> 00:41:09,480 Speaker 1: order in taking the Alabama case another indication that it's 750 00:41:09,840 --> 00:41:13,520 Speaker 1: open to weakening the role race make play in drawing 751 00:41:13,880 --> 00:41:17,840 Speaker 1: voting districts. Yeah, it's sometimes hard with these shadow doctor cases. 752 00:41:17,920 --> 00:41:20,480 Speaker 1: And the court says, let's not change the rules too 753 00:41:20,560 --> 00:41:22,880 Speaker 1: close in time to the election. So that's not a 754 00:41:22,960 --> 00:41:25,560 Speaker 1: merits question. That's just saying we want to hold, serve 755 00:41:25,640 --> 00:41:27,920 Speaker 1: and keep things in place. But then there's no question 756 00:41:28,000 --> 00:41:30,160 Speaker 1: that it's it's perhaps peaking at the merits, and some 757 00:41:30,400 --> 00:41:33,120 Speaker 1: justices are much more persuaded than on the merits that 758 00:41:33,360 --> 00:41:35,880 Speaker 1: there's too much focus on race and a couple of 759 00:41:35,960 --> 00:41:39,800 Speaker 1: these maps, that courts have been too aggressive and trying 760 00:41:39,840 --> 00:41:43,440 Speaker 1: to draw these districts for majority black voters, and that 761 00:41:43,600 --> 00:41:46,719 Speaker 1: maybe the majority of the court is going to say 762 00:41:46,920 --> 00:41:48,920 Speaker 1: we're going to trend back the Voting Rights Act a 763 00:41:48,960 --> 00:41:50,800 Speaker 1: little bit in some ways that it's done in a 764 00:41:50,880 --> 00:41:53,800 Speaker 1: handful of cases of the last decade. And as Derek Mueller, 765 00:41:53,920 --> 00:41:56,960 Speaker 1: professor at Iowa Law School, speaking with the Bloomberg Student Ground, 766 00:41:57,000 --> 00:41:59,920 Speaker 1: So catch more event interview plus analysis of the latest 767 00:42:00,040 --> 00:42:03,239 Speaker 1: legal news by subscribing to the Bloomberg Law Podcast or 768 00:42:03,239 --> 00:42:07,360 Speaker 1: downloading the show at Bloomberg dot com slash podcasts. Attorneys 769 00:42:07,400 --> 00:42:10,279 Speaker 1: can find exceptional legal research and business development tools at 770 00:42:10,320 --> 00:42:13,520 Speaker 1: Bloomberg Law dot com and on the Bloomberg terminal at 771 00:42:13,600 --> 00:42:17,520 Speaker 1: b law Go and again. Futures this morning are falling. 772 00:42:17,880 --> 00:42:21,640 Speaker 1: SMP futures down fifty two points in Dow futures down 773 00:42:21,920 --> 00:42:25,560 Speaker 1: three hundred thirty one and NOWNSDAG futures are down two 774 00:42:25,680 --> 00:42:28,960 Speaker 1: hundred one. Ten year treasury up ten thirty seconds. The 775 00:42:29,040 --> 00:42:31,040 Speaker 1: yel three point oh five per cent, and they yield 776 00:42:31,080 --> 00:42:35,000 Speaker 1: on the two year two point nine NIMEX. Screwed oil 777 00:42:35,160 --> 00:42:37,200 Speaker 1: is down about two ten per cent or eighteen cents 778 00:42:37,239 --> 00:42:40,240 Speaker 1: at a hundred nine dollars sixty two cents a barrel, 779 00:42:40,320 --> 00:42:42,279 Speaker 1: and still ahead. On Bloomberg Daybreak and check on the 780 00:42:42,320 --> 00:42:44,719 Speaker 1: business headlines and all the news you need to start 781 00:42:44,800 --> 00:42:47,000 Speaker 1: your day. This is Bloomberg