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Speaker 1: By from the Bloomberg Interactive Brooker Studios. This is Bloomberg

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Speaker 1: Daybreak for a Friday, August twelve. Coming up this hour.

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Speaker 1: Nuclear documents were reportedly at the center of the FBI

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Speaker 1: search of Donald Trump's Florida home. Now the former president

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Speaker 1: calls for the release of the warrant used in his search.

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Speaker 1: Joe Biden is said to be preparing to launch a

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Speaker 1: reelection pan and we speak to San Francisco FAG President

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Speaker 1: Mary Daily on the Central Banks. Next move, calls resumed

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Speaker 1: to get rid of horse drawn carriages in New York City.

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Speaker 1: Plus investigators are looking into a man who tried to

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Speaker 1: breach in Ohio FBI office. I'm Michael Barr. More ahead,

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Speaker 1: I'm John Stashon s Forwards, the Giant One, the preseason

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Speaker 1: open right, New England, The Jets, Math and Yankees all

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Speaker 1: played tonight. That's all's training ahead on Bloomberg Daybreak on

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Speaker 1: Bloomberg eleven three on New York, Bloomberg one, Washington, d C,

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Speaker 1: Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco,

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Speaker 1: Syrius XM one nine team, and around the world on

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Speaker 1: Bloomberg Radio dot Com and via the Bloomberg Business Shop.

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Speaker 1: Good Friday morning. I'm Nathan Hagar and I'm Karen Moscow

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Speaker 1: and US NOCK index futures are moving higher this morning.

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Speaker 1: We are coming up to five oh one on Wall Street,

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Speaker 1: and we check the markets every fifteen minutes throughout the

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Speaker 1: trading day. On Bloomberg S and P Future is up

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Speaker 1: twenty two points and Down futures up a hundred and

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Speaker 1: fifty four and nastack futures up seventies six. The ten

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Speaker 1: year treasury up five thirty seconds, yield two point eight

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Speaker 1: six percent, and they yield on the two year three

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Speaker 1: point to zero percent. Nathan, all right, Karen, we'll have

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Speaker 1: more on the markets in a minute, but first, we

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Speaker 1: are learning more this morning about what the FBI was

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Speaker 1: lurking for when it executed a search warrant at the

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Speaker 1: Florida home of former President Donald Trump. Amy Morris has

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Speaker 1: details from our Bloomberg newsroom in Washington. Reportedly, among the

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Speaker 1: items classified documents related to nuclear weapons. The Washington Post

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Speaker 1: reports it isn't clear if the information involved weapons belonging

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Speaker 1: to the United States or some other nation, and we

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Speaker 1: don't know yet if those documents were recovered in the search.

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Speaker 1: Attorney General Merritt Garland announced the Department of Justice has

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Speaker 1: filed a motion to unseal the search warrant and that

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Speaker 1: more information is coming. The Department filed the motion to

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Speaker 1: make public the warrant and receipt in light of the

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Speaker 1: former president's public confirmation of the search, the surrounding circumstances,

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Speaker 1: and the substantial public interest in this matter, and the

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Speaker 1: judge immediately ordered d o J to consult with Trump's

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Speaker 1: legal team and notify the court within twenty four hours

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Speaker 1: about whether they would oppose the request laid last night,

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Speaker 1: former President Trump said on social media he agreed that

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Speaker 1: the search warrant and the list of items taken should

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Speaker 1: be made public in Washington. I'm Amy Moore as Bloomberg Daybreak.

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Speaker 1: All right, Amy, thank you. We're getting more reaction to

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Speaker 1: Attorney General Garland's request to unseat the warrant. Cardozo's School

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Speaker 1: of Law professor Jessica Roth says former President Trump could

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Speaker 1: release the documents himself. The former president has confirmed publicly

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Speaker 1: that a search was executed on his property um us,

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Speaker 1: essentially eliminating one of the primary reasons why search warrants

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Speaker 1: remain under still at this juncture, which is to protect

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Speaker 1: the privacy of those who were searched. And Cardosa Law

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Speaker 1: Professor Jessica Robb is a former federal prosecutor in the

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Speaker 1: Southern District of New York. She was a guest on

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Speaker 1: Bloomberg Sound On heard weekdays at five pm Eastern on

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Speaker 1: Bloomberg Radio. Well, one other major political story we're watching

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Speaker 1: this morning, Karen Bloomberg News has learned that President Biden

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Speaker 1: is preparing to launch his re election campaign in the

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Speaker 1: months after November's mid term elections. Those close to the

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Speaker 1: president describe him as upbeat about recent legislative, economic, and

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Speaker 1: foreign policy victories. The Pole's show most Democrats would rather

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Speaker 1: have a candidate other than Biden. But we also have

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Speaker 1: new developments this morning on the battle against the pandemic

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Speaker 1: Nathan the CDC is loosening guidance for people exposed to

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Speaker 1: COVID nineteen and Bloomberg's Sad Baxter has the story this

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Speaker 1: is the latest loosening of CDC policies that says there

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Speaker 1: is no longer a recommendation to quarantine after exposure and

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Speaker 1: says it more closely aligned with what people are doing anyway.

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Speaker 1: It says will benefit school classrooms and the children themselves.

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Speaker 1: It does say those people should wear masks indoors while

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Speaker 1: monitoring for symptoms, and it also says people with COVID

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Speaker 1: symptoms should end isolation on the sixth day or later.

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Speaker 1: In San Francisco, I'm at Baxter Bloomberg day break, Okay,

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Speaker 1: and thank you. Turning to markets now, Futures are moving

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Speaker 1: higher as we close out a trading week that's been

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Speaker 1: highlighted by inflation data. Stocks have rallied since they're low

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Speaker 1: for mid June. The SMP five hundreds now trading near

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Speaker 1: a three month high. JP Morgan Chief Global Strategist David

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Speaker 1: Kelly says stocks could rebound to record highs in the

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Speaker 1: next few years. Look at what the record high would be.

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Speaker 1: Look at the percentage gain you're talking about here. So

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Speaker 1: if you need to go up, you know, if it

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Speaker 1: takes you a year to do that, that's a great game.

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Speaker 1: If it takes you two years to do that with dividends,

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Speaker 1: that's still a great If it takes you three years,

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Speaker 1: you're still making good money. So only in order to

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Speaker 1: be a bull on stocks, all you have to believe

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Speaker 1: is that you'll get there within say the next three year.

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Speaker 1: JP Morgan's David Kelly says he would be fully invested

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Speaker 1: in equities right now. Well, Nathan. Despite the cooler inflation

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Speaker 1: ratings we've seen this week, the discussion continues on how

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Speaker 1: aggressive the FED will be. San Francisco Fed President Mary

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Speaker 1: Daily says she is flexible when it comes to future policy.

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Speaker 1: I have a baseline case going into September that is

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Speaker 1: fifty basis points. That's where I've been since the last meeting.

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Speaker 1: But I have an open mind about whether seventy is

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Speaker 1: going to be necessary, and a lot of that will

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Speaker 1: depend on the labor market, inflation and whether we start

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Speaker 1: to uh, we see those things slow enough to say, wow,

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Speaker 1: we've got the momentum need. San Francisco Fed President Mary

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Speaker 1: Daily made the comments in an interview with Bloomberg's Kathleen Hayes,

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Speaker 1: and catch more of that conversation coming up shortly on

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Speaker 1: Bloomberg Daybreak Right. In Corporate News this morning, Karen Apple

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Speaker 1: is in focus. We're told the company expects to sustain

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Speaker 1: iPhone sales this year even as the market slows. More

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Speaker 1: from Bloomberg's Charlie Pellett, Apple is asking suppliers to build

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Speaker 1: at least as many of its next generation iPhones this

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Speaker 1: year's in one, counting on an affluent clientele and dwindling

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Speaker 1: competition to whether a global electronics downturn, sources tell Bloomberg,

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Speaker 1: but tech Giant is telling its assemblers to make ninety

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Speaker 1: million of its newest devices on par with last year,

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Speaker 1: despite deteriorating projections for the smartphone market in New York.

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Speaker 1: Charlie Pellett Bloomberg Daybreak, All right, Charlie, thanks well. Shares

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Speaker 1: of Alumina around the move this morning. The DNA sequencing

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Speaker 1: Giant stock is plunging down fifteen and a half percent

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Speaker 1: of the pre market, as Bloomberg's Krisner reports, the company

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Speaker 1: cut its full year earnings forecast. Illumina blamed the reduction

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Speaker 1: on potential penalties in Europe over its acquisition of cancer

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Speaker 1: test provider Grail last month. Of two companies were warned

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Speaker 1: of hefty fines after EU regulators said the merger was

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Speaker 1: implemented before regulators reviewed the deal. Illumina now says adjusted

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Speaker 1: earnings will be in the range of two dollar seventy

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Speaker 1: five cents at two nineties share. It's earlier forecast was

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Speaker 1: between four dollars and four twenty in New York. I'm

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Speaker 1: Doug Chrisoner, Bloomberg Daybreak. Okay, Doug, thanks, SMP Future is

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Speaker 1: up twenty two points this morning. Dal Future is up

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Speaker 1: one fifty five. Nastack Futures are hired by seventy one

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Speaker 1: points straight ahead, your latest local headlines and a check

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Speaker 1: of sports. This is Bloomberg and it's now five oh

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Speaker 1: seven on Wall Street where it's seventy three degrees in

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Speaker 1: Central Park. Still got a little road work southbound Van

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Speaker 1: Wick between Liberty Avenue and Linded Boulevard, But so far,

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Speaker 1: so good on the Friday morning ride. Michael Barr is

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Speaker 1: here with more than what's going on in New York

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Speaker 1: and around the world. Good morning, Michael, Good morning Nathan.

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Speaker 1: Authorities are investigating the motives of a man armed with

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Speaker 1: an a R fifteen style weapon who tried to breach

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Speaker 1: the FBI Cincinnati office. He fled and was shot and

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Speaker 1: died hours later in a rural standoff with law enforcement.

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Speaker 1: Ohio State Highway Patrol spokesman Lieutenant Nathan Dennis. Throughout the

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Speaker 1: day today, UM law enforcement officers attempted to negotiate with

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Speaker 1: the suspect. State Patrol Lieutenant Nathan Dennis. The FBI is

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Speaker 1: warning its agents to take extra precautions in an increase

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Speaker 1: in social media threats following Monday search at former President

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Speaker 1: Trump's home. Investigators are examining whether the suspect, identified as

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Speaker 1: forty two year old Ricky Schiffer, may have had ties

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Speaker 1: to far right extremist groups. Activists rallied at City Hall

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Speaker 1: to demand New York City banned the use of horse

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Speaker 1: drawn carriages. After a horse collapsed in Hell's Kitchen Wednesday evening,

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Speaker 1: the NYPD used water hoses to try to cool down

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Speaker 1: the fourteen year old horse. Demonstrators support a bill the

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Speaker 1: New York City Council is currently considering to replace the

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Speaker 1: horses with electric carriages. About two hundred potential jurors for

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Speaker 1: the trial of a man charged with killing eight people

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Speaker 1: on the New York City bike path and the terror

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Speaker 1: attack filled out the questionnaires. Eventually, twelve jurors and six

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Speaker 1: altenants will be chosen for the October eleventh trial of

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Speaker 1: Side Polosipov in Manhattan Federal Court. Cipov was charged in

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Speaker 1: the October seventeen attach after prosecutors say he used a

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Speaker 1: truck that hit numerous pedestrians along the West Side Highway.

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Speaker 1: UK officials say children under nine years of age could

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Speaker 1: be eligible for a booster dose to fight polio soon.

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Speaker 1: It comes as officials in Rockland County, New York, are

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Speaker 1: investigating the country's first polio case identified in decades, leading

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Speaker 1: to some concerns that polio could be coming back to

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Speaker 1: the US. Dr Amy Errington, who specializes in global biological

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Speaker 1: preparedness in Texas, says that while the best protection against

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Speaker 1: polio remains childhood vaccination, Americans can take other precautions to

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Speaker 1: lower their risk as well. The key to that is really,

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Speaker 1: you know, good hand hygiene, being alert, and surveillance, surveillance

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Speaker 1: like we've done and like they've done in New York

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Speaker 1: to catch this case, but primarily keeping up with your

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Speaker 1: your polio boosters and your your vac seen schedule as

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Speaker 1: a child. Doctor Arrington Global News twenty four hours a

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Speaker 1: day on the ariand on Bloomberg Quick Take Power about

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Speaker 1: more than twenty seven hundred journalist analists more than a

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Speaker 1: hundred twenty countries and Michael bar this is Bloomberg, Nathan,

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Speaker 1: thank you, Michael. Almost five ten on All Street Time

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Speaker 1: for the Bloomberg Sports Update, Good Friday morning, John Stas Show,

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Speaker 1: Good Morning, Nathan Football's back Giants and Patriots in New England.

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Speaker 1: The game had six lead changes and the Giants on

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Speaker 1: a Graham Joe field goal is third of the night

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Speaker 1: one twenty one. Daniel Jones played the first quarter six

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Speaker 1: of ten sixty nine yards and then replaced by Tyrod Taylor,

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Speaker 1: and one thing is served and the Giants are much

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Speaker 1: improved at backup quarterback. Giants fans, unfortunately remember the teams

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Speaker 1: struggles after Jones's injury last season. Taylor has started over

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Speaker 1: fifty NFL games. He was thirteen of twenty one with

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Speaker 1: a touchdown of Giants had four hundred eighteen yards of

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Speaker 1: offense a hundred and seventy seven on the ground. The

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Speaker 1: coach is Brian day Ball. He was asked how it

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Speaker 1: went on the sideline. The coaches did a weird job

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Speaker 1: and we respected. I think like he had his staff

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Speaker 1: really organized. Kafka did a really good job. I think

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Speaker 1: he communicated well throughout the game. Again, we're not making

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Speaker 1: a ton of adjustments here, and um, you know I was.

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Speaker 1: I was pleased with that again, pleased with the substitutions.

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Speaker 1: I mean, it's our first step, and I'm pleased with

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Speaker 1: the way that compete. A Jets played tonight in Philadelphia.

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Speaker 1: Just just added a veteran tackle, Dwyane Brown's, a five

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Speaker 1: time pro bowler about to turn thirty seven. Jets just

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Speaker 1: lost tackle McKay pecked into a season ending knee and

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Speaker 1: drink baseball Dyersville, Iowa a great setting for the field

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Speaker 1: of Dreams. Game Covers beat the Red sport of two

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Speaker 1: Yankees and Red Sox tonight in Boston. The Sox one

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Speaker 1: last night, but they're just thirteen and twenty seven their

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Speaker 1: last forty games, and the Yanks are only ten and

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Speaker 1: eighteen in their last twenty eight. And with Houston's win yesterday,

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Speaker 1: Yankees no longer have the best record in the American League.

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Speaker 1: They don't have the best record in New York. That

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Speaker 1: belongs with the Red Hot Mets, who hosts the Phillies tonight.

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Speaker 1: Extras around the Mounta, the NBA announced the entire league

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Speaker 1: will retire the number six one by the late bial Russell.

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Speaker 1: Johns Dasha were Bloomberg Sports Okay john thanks SMP futures

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Speaker 1: Up twenty two points, Sound Futures Up, wanted Stack Futures

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Speaker 1: are highed by seventy three points. This is Bloomberg Bloomberg

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Speaker 1: eleven three oh weather clouds give way to sunshine today,

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Speaker 1: HIGs in the low eighties, upper sixties tonight, low eighties

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Speaker 1: again tomorrow and Sunday. What a weekend coming up right

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Speaker 1: now seventy three in Central Park markets, headlines and breaking

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Speaker 1: news twenty four hours a day at Bloomberg dot com,

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Speaker 1: the Bloomberg Business Outland at Bloomberg Quick takes a Bloomberg

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Speaker 1: Business Flash, and I'm Karen Moscow. Stocks in US stock

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Speaker 1: index futures around the rise this morning as investors assess

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Speaker 1: whether signs of cooling inflation will enable to FED to

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Speaker 1: pivot to less aggressive interest rate increases. We checked the

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Speaker 1: markets every fifteen minutes throughout the trading day. On Bloomberg.

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Speaker 1: SNP futures up twenty two points this morning, DAL futures

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Speaker 1: up on eight and nastack futures up seventy six. The

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Speaker 1: Dacks in jury Many's up half per cent. They can't

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Speaker 1: compare us up three tens percent, and the foot see

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Speaker 1: one hundred is up about six tenths of upper set

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Speaker 1: ten year Treasury up three Third day seconds held two

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Speaker 1: point eight seven percent. They yield on the two year

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Speaker 1: three point to zero percent. NIMEX screwed oil is done

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Speaker 1: about a tenth of a percent now down twelve cents

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Speaker 1: and nine dollars twenty two cents of barrel comex school

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Speaker 1: down three tents per cent or five dollars eighty cents

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Speaker 1: at eighteen o one forty announced the euro one point

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Speaker 1: oh two nine seven against the dollar, British pound one

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Speaker 1: zero and the end is one thirty three point three zero.

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Speaker 1: And looking at a bitcoin this morning, it's down more

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Speaker 1: than one percent at twenty three thousand, nine hundred sixty dollars.

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Speaker 1: And today we are looking for reports on the import

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Speaker 1: price and next at eight thirty Wall Street Time, and

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Speaker 1: we get a look at consumer sentiment at ten. That's

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Speaker 1: a Bloomberg business flash. Now here's Michael Barr with more

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Speaker 1: on what's going on around the world. Muchael, Good morning,

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Speaker 1: Good morning, kar and FBI agents were said to be

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Speaker 1: looking for classified documents related to nuclear weapons in the

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Speaker 1: search of former President Trump's Mara log. Residents of Washington

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Speaker 1: Post reports there were major concerns among government officials that

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Speaker 1: the information could fall into the wrong hands. Meanwhile, former

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Speaker 1: President Trump says he supports the release of documents related

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Speaker 1: to the FBI search. Trump made the announcement on his

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Speaker 1: social media site Truth Social following a Justice Department request

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Speaker 1: and a Florida court to unseal the documents, and Indiana

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Speaker 1: family friends and lawmakers remembered Republican Congresswoman Jackie Wullorsky at

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Speaker 1: her funeral yesterday. Llorski was killed along with three other

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Speaker 1: people and a head on crash near South Bend. Earlier

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Speaker 1: this month, in baseball, the Red Sox beat the Orioles

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Speaker 1: for three Globally was twenty four hours a day on

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Speaker 1: air and on Bloomberg Quick Take, powered by more than journalists,

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Speaker 1: analysts and more than one hundred twenty countries. I'm Michael Barb.

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Speaker 1: This is Bloomberg. Nathan. Thanks Michael. We're coming up to

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Speaker 1: five twenty on Wall Street Live from the Bloomberg Interactive

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Speaker 1: Broker Studios. This is Bloomberg Daybreak. I'm Nathan Hagar. Let's

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Speaker 1: take a look at FED policy now, San franc This

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Speaker 1: girl FED President Mary Daily says the cooler inflation ratings

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Speaker 1: for July are welcoming, but the fight against fast price

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Speaker 1: growth is far from over. In an interview, with Bloomberg's

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Speaker 1: Kathleen Hayes carry On and Heidi Stroud Watts Daily reiterated

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Speaker 1: that her base cases for a half percentage point hike

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Speaker 1: at the fed's meeting next month. At the same time,

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Speaker 1: she has an open mind about another large increase being necessary.

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Speaker 1: Let's listen to that conversation. Now, fifty or seventy five

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Speaker 1: isn't the qout pivoting. It's not about ending this rate

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Speaker 1: high path. So I'm still kind of curious if you

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Speaker 1: just were looking at those numbers, what would you say,

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Speaker 1: did they support your baseline? For example, so fifty or

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Speaker 1: seventy five, Yeah, I think fifty supports the baseline. Think

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Speaker 1: of more ready to be at the end. I mean

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Speaker 1: the numbers. We just got the numbers. We scott the numbers.

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Speaker 1: We just got to say that we have enough uncertainty

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Speaker 1: about the path of inflation. It looks a little bit improvement,

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Speaker 1: but we don't want to be head faked, so we

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Speaker 1: want to wait for the next report. We have a

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Speaker 1: reinflation report and unemployment report coming out before the next meeting.

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Speaker 1: Really behooves us to stay daya dependent and not call

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Speaker 1: it but for today. With those numbers in hand, I

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Speaker 1: still think fifty basis points is the case, but I

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Speaker 1: am open to seventy the data of all differently. So

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Speaker 1: we've got another inflasion report and other jobs we do.

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Speaker 1: Now I want to ask you, I want to I

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Speaker 1: want to hit some of the big points first. And

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Speaker 1: the other one is there's in terms of recession and

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Speaker 1: recession risks, there seems to be frequently a sense in

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Speaker 1: markets that, oh, once there's signs of a recession, of

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Speaker 1: the risk a rising, the FED will pull back. So

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Speaker 1: it is the Fed. Are you willing to let those

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Speaker 1: risk materialize if you have to to risk a recession,

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Speaker 1: if that's what it's in the end takes to get

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Speaker 1: the inflasion right down, well, I'd like to start with this.

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Speaker 1: We are a long way from evaluating those risks right now.

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Speaker 1: Look at the employment report. The people in the labor market,

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Speaker 1: whether they're a firm trying to find a worker or

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Speaker 1: workers trying to find a job, do not feel like

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Speaker 1: it's a recession right now? Jobs are plentiful. The main

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Speaker 1: marker for con sumers about a recession is are they

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Speaker 1: finding hard time finding jobs? Is it hard to get

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Speaker 1: a job and other incomes falling? You really don't see

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Speaker 1: that right now, So I don't see the risks of

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Speaker 1: inflation as our pre eminent risk. I see the most

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Speaker 1: important risk we face in the economy as inflation is

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Speaker 1: too high and has been too high for too long,

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Speaker 1: and we need to bring that down. So when I'm

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Speaker 1: balancing the risks, I'm really balancing how quickly can we

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Speaker 1: bring inflation down without tipping the labor market over. And

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Speaker 1: that's why fifty basis points make sense to me. Right now, Mary,

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Speaker 1: does the stock market bullish is right now? Is that A?

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Speaker 1: Is that challenging to the Federal Reserve? And given that,

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Speaker 1: of course I could relax financial conditions, which is not

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Speaker 1: what the Fed wants to see at this moment. So

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Speaker 1: we look at a broad range of financial conditions, and

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Speaker 1: the stock market is simply one of them. I'm also

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Speaker 1: looking at mortgage interest rates and borrowing rates for businesses

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Speaker 1: and consumers for a variety of things, and I really

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Speaker 1: do want those to remain tight and tight and heightening

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Speaker 1: as we go, because we don't want financial conditions to relax.

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Speaker 1: We want them to remain tight so that we can

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Speaker 1: continue to bridle the economy. Some want take the accommodation

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Speaker 1: out remember, financial conditions have been so loose in part

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Speaker 1: because we were adding a lot of accommodation to get

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Speaker 1: us through the pandemic. Now we want to pull that back,

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Speaker 1: and we want the economy to slow, bring demand and

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Speaker 1: supply back in balance, and deliver a sustainable growth path

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Speaker 1: that delivers on price stability and full employment. This is achievable,

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Speaker 1: but it takes some time to work its way through. Mary,

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Speaker 1: It's not the ideal scenario. But would you ultimately be

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Speaker 1: comfortable or okay with triggering a recession, even if it's

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Speaker 1: a mild one in order to get over inflation? Well,

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Speaker 1: let me just say what What is true is that

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Speaker 1: I think about what I want to achieve, what Americans

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Speaker 1: really are expecting us to achieve, and that is a

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Speaker 1: smoother transition that doesn't require a recession, actually delivers on

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Speaker 1: a slower economy that is still giving people the jobs

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Speaker 1: they need and the price stability they deserve. That's what

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Speaker 1: I'm looking for, and that's what I'm focused on. Quick

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Speaker 1: final question, sure, is that in a sense of what

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Speaker 1: we've been talking about, then, is why it's so important,

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Speaker 1: no matter what the cost, no matter how painflu it is.

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Speaker 1: In the short term, it's so important for the Federal

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Speaker 1: Reserve to get inflation down. So it is essential we

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Speaker 1: get inflation down. It is a commitment we have made

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Speaker 1: at the Federal Reserve to bring inflation down. People want jobs,

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Speaker 1: but they also want low and stable inflation. We have

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Speaker 1: to give them both. And that was San Francisco Fed

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Speaker 1: President Mary Daily speaking with Bloomberg's Kathleen Heyes, sherry On

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Speaker 1: and Heidi Stroud Watts. You can catch more of that

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Speaker 1: conversation online at Bloomberg dot com. S ANDP futures up

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Speaker 1: twenty one point. Stou futures are hired by a hundred

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Speaker 1: forty eight points. Stanti stack futures on the rise by

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Speaker 1: seventy five points. The ten year treasury is up three

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Speaker 1: thirty seconds, the yield two point eight seven and the

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Speaker 1: yield on the two year right now three point two

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Speaker 1: zero percent. You're listening to Bloomberg day Break Bloomberg eleven

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Speaker 1: three oh weather. Any showers this morning to give way

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Speaker 1: to sunshine and low eighties for highs upper sixties. Tonight

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Speaker 1: will be in the low eighties, partly the mostly sunny

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Speaker 1: tomorrow and Sunday. Right now seventy three degrees in central Park,

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Speaker 1: broadcasting live from the Bloomberg Interactive Broker Studio in New York.

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Speaker 1: Bloomberg E Loving Freedom to Washington, d C, Bloomberg to Boston,

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Speaker 1: Bloomberg one six one to San Francisco, Bloomberg nine sixty

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Speaker 1: to the Country, Sirius XM. Chentle one nine and around

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Speaker 1: the globe the Bloomberg Business at and Bloomberg Radio dot Com.

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Speaker 1: This is Bloomberg Daybreak. It's five thirty on Wall Street.

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Speaker 1: Good morning. I'm Nathan Hager and I'm Kared Mosk. Yeah,

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Speaker 1: we are just about four hours away from the open

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Speaker 1: of US trading. Let's get you up to date on

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Speaker 1: the news. You need to know what this show. Where

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Speaker 1: we begin with politics and new details about the FBI

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Speaker 1: executing a search warrant at the Florida home of former

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Speaker 1: President Trump. According to the Washington Post, classified documents related

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Speaker 1: to nuclear weapons were among the items that they were

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Speaker 1: searching for. Attorney General Merrick Garland says the Department of

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Speaker 1: Justice has filed a motion to unseal the search warrant.

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Speaker 1: More information will be made available in the appropriate way

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Speaker 1: and at the appropriate time. An Attorney General Garland is

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Speaker 1: also defending the integrity of his agents involved in the

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Speaker 1: matter and reactions pouring into the Attorney General's short briefing yesterday.

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Speaker 1: Karen Cardoza School of Law professor Jessica Roth says it

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Speaker 1: makes sense to unseal the warrant in this circumstance. There's

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Speaker 1: just an enormous public interest in these events, in part

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Speaker 1: because of the former president's statements announcing it and subsequent statements,

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Speaker 1: and by the fact that he's the former president of

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Speaker 1: the United States. Cardoza Law Professor Jessica Roth made the

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Speaker 1: comments on Bloomberg sound On, heard weekdays at five pm

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Speaker 1: Eastern on Bloomberg Radio. Well, another political story we're following

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Speaker 1: this morning, Nathan, Bloomberg News has learned President Biden is

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Speaker 1: preparing to launch his re election campaign in the months

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Speaker 1: after November's mid term elections. And we have new developments

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Speaker 1: this morning in the battle against COVID nineteen. The CDC

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Speaker 1: is no longer recommending quarantine after exposure to the virus.

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Speaker 1: It says people with symptoms should end isolation on the

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Speaker 1: sixth day or later. Well, the markets now, Nathan, futures

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Speaker 1: are higher as we close out a trading week highlighted

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Speaker 1: by softer than expected inflation data of Shanna or Ze Sistle,

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Speaker 1: founder of ben Ryan Capital Management, says she's still not

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Speaker 1: jumping to invest in riskier assets. I'm still not willing

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Speaker 1: to dip into some of those areas right now. I

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Speaker 1: want to focus on quality companies with good long term

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Speaker 1: tail whiz and those names are not necessarily those speculative names.

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Speaker 1: And Shanna or Ze Sistle of ben Ryan Capital Management

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Speaker 1: says the Fed maybe more hawkish than the market's anticipating,

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Speaker 1: and despite this week's CPI and pp I Karen, the

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Speaker 1: Fed expects to be aggressive as it looks to cool inflation.

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Speaker 1: San Francisco FED President Mary Daily says she's flexible when

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Speaker 1: it comes to raising rates at the next FOMC meeting.

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Speaker 1: The scale FIFT doesn't just depend on a data point,

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Speaker 1: even an important one like the cp I. I'd like

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Speaker 1: to say that we're data dependent, not data point dependent.

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Speaker 1: San Francisco FED President Mary Daily made the comments on

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Speaker 1: Bloomberg TV. Catch more of that conversation shortly here on

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Speaker 1: day break, and futures this morning are higher. SNP future

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Speaker 1: is up twenty one points to down, futures up a

431
00:23:28,160 --> 00:23:31,359
Speaker 1: hundred forty six NASDAG futures up seventy three try to

432
00:23:31,400 --> 00:23:33,719
Speaker 1: hand your latest local headlines plus a check up sports.

433
00:23:33,800 --> 00:23:39,400
Speaker 1: And this is Bloomberg all right, Karen. Thanks. It's five

434
00:23:39,480 --> 00:23:42,080
Speaker 1: thirty three on Wall Street, seventy three degrees in Central Park.

435
00:23:42,119 --> 00:23:45,359
Speaker 1: We have an accent southbound white Stone Expressway at twenty Avenue.

436
00:23:45,720 --> 00:23:48,200
Speaker 1: We'll get to the details shortly. First, Michael Barr has

437
00:23:48,280 --> 00:23:50,080
Speaker 1: more on what's going on in New York and around

438
00:23:50,080 --> 00:23:52,280
Speaker 1: the world. Michael, thank you very much. Nathan the man

439
00:23:52,320 --> 00:23:55,119
Speaker 1: who led law enforcement officers on the chase after a

440
00:23:55,200 --> 00:23:59,040
Speaker 1: failed attempt to breach the FBI Cincinnati Field office was

441
00:23:59,119 --> 00:24:03,200
Speaker 1: shot after an exchange of gunfire. Ohio State Highway Patrol

442
00:24:03,240 --> 00:24:09,080
Speaker 1: spokesman Lieutenant Nathan Dennis. The suspect was um deceased. He

443
00:24:09,200 --> 00:24:12,760
Speaker 1: succumbed to his injuries at the sea and everything remains

444
00:24:12,800 --> 00:24:16,199
Speaker 1: on investigation at this home. The suspect is identified as

445
00:24:16,240 --> 00:24:19,760
Speaker 1: forty two year old Rickey Schiffer. Demonstrators converged on the

446
00:24:19,800 --> 00:24:22,399
Speaker 1: City Hall yesterday to once again call for the end

447
00:24:22,520 --> 00:24:25,880
Speaker 1: of horse drawn carriages in New York. It comes after

448
00:24:26,000 --> 00:24:29,280
Speaker 1: a horse collapsed in Hell's Kitchen on Wednesday. The un

449
00:24:29,320 --> 00:24:32,600
Speaker 1: Security Council held an emergency meeting to discuss the ongoing

450
00:24:32,720 --> 00:24:36,600
Speaker 1: crisis to Europe's largest nuclear power plant in Ukraine, which

451
00:24:36,760 --> 00:24:40,679
Speaker 1: was reportedly struck by missiles. Both countries now blaming one

452
00:24:40,720 --> 00:24:44,240
Speaker 1: another for the attack on the Russian controlled plant. US

453
00:24:44,320 --> 00:24:48,040
Speaker 1: Under Secretary of State for Arms Control and International Security,

454
00:24:48,119 --> 00:24:52,879
Speaker 1: Ambassador Bonnie Denise Jenkins urged Russia to return control of

455
00:24:52,960 --> 00:24:56,520
Speaker 1: the plan to Ukraine. We once again call on Russia

456
00:24:56,960 --> 00:25:01,679
Speaker 1: to cease all military operations at are Ukraine's nuclear facilities

457
00:25:02,359 --> 00:25:07,080
Speaker 1: and insist that Russia immediately return full control of the

458
00:25:07,200 --> 00:25:12,440
Speaker 1: Zephysa facility to Ukraine. Ambassador Jenkins says Russia alone created

459
00:25:12,480 --> 00:25:17,040
Speaker 1: the risks In Indiana, family friends and lawmakers remembered Republican

460
00:25:17,119 --> 00:25:21,440
Speaker 1: Congresswoman Jackie Relorski at her funeral yesterday. House Minority Leader

461
00:25:21,480 --> 00:25:24,200
Speaker 1: Kevin McCarthy. The praise that she would have from both

462
00:25:24,280 --> 00:25:28,000
Speaker 1: sides is tremendous. Today's world, that's a little difficult. Well

463
00:25:28,080 --> 00:25:30,240
Speaker 1: Orski was killed along with three other people and a

464
00:25:30,320 --> 00:25:33,280
Speaker 1: head on car crash near South Bend earlier this month.

465
00:25:33,560 --> 00:25:36,080
Speaker 1: The spokesperson for Anna Hay says the actor is on

466
00:25:36,240 --> 00:25:39,399
Speaker 1: life support after suffering a brain injury and a fiery

467
00:25:39,480 --> 00:25:41,879
Speaker 1: crash a week ago in Los Angeles and is not

468
00:25:42,160 --> 00:25:46,359
Speaker 1: suspected inspected to survive. Global News twenty four hours a

469
00:25:46,440 --> 00:25:49,320
Speaker 1: day on air and on Bloomberg Quicktake, powered by more

470
00:25:49,400 --> 00:25:51,960
Speaker 1: than twenty seven hundred journalists analysts more than a hundred

471
00:25:52,000 --> 00:25:55,280
Speaker 1: twenty countries. Michael Barb, this is Bloomberg tough news there,

472
00:25:55,359 --> 00:26:02,680
Speaker 1: Thank you, Michael five on Wallster. Let's get the Bloomberg

473
00:26:02,680 --> 00:26:05,240
Speaker 1: sports update. Now here's John Sash all right, Nathan Giants

474
00:26:05,280 --> 00:26:06,760
Speaker 1: took the field for the first time in a new coach,

475
00:26:06,840 --> 00:26:09,280
Speaker 1: Brian day Ball in New England, where Dave Ball was

476
00:26:09,320 --> 00:26:11,760
Speaker 1: once an assistant under Bill Belichick, who of course was

477
00:26:11,840 --> 00:26:15,480
Speaker 1: once a Giants assistant. Dave Ball replaced Joe Judge. He's

478
00:26:15,520 --> 00:26:18,000
Speaker 1: now back in New England. His second stint as a

479
00:26:18,119 --> 00:26:20,679
Speaker 1: pass assisted the game at six lead changes the Giants

480
00:26:20,720 --> 00:26:24,119
Speaker 1: one twenty one on the last second Graham Gano field goal.

481
00:26:24,200 --> 00:26:27,119
Speaker 1: Giants had four hundred eighteen yards of offense hundred and

482
00:26:27,240 --> 00:26:30,840
Speaker 1: seventy seven on the ground. But it's only preseason. Jets

483
00:26:30,880 --> 00:26:33,359
Speaker 1: in Philadelphia tonight, with the season ending knee injury to

484
00:26:33,440 --> 00:26:36,040
Speaker 1: tackle on McKay beck to the Jets signed veteran tackle

485
00:26:36,200 --> 00:26:39,680
Speaker 1: Dwyanne Brown, a five time pro bowler while with Seattle

486
00:26:39,800 --> 00:26:42,280
Speaker 1: and used in Tom Brady, has left the Bucks to

487
00:26:42,359 --> 00:26:45,720
Speaker 1: attend to a personal matter. Won't be practicing with Tampa

488
00:26:45,760 --> 00:26:49,760
Speaker 1: Bay all over next week. The Field of Dreams game Dyersville, Iowa.

489
00:26:49,840 --> 00:26:51,639
Speaker 1: The Yankees and White Sox did it last year. It

490
00:26:51,680 --> 00:26:53,879
Speaker 1: was the Cubs and Reds last night, and Joey Vado

491
00:26:54,040 --> 00:26:57,080
Speaker 1: help a little like Kevin COSTI watching the movie. Um,

492
00:26:57,480 --> 00:26:59,399
Speaker 1: you know, it's something my father and I shared and

493
00:27:00,200 --> 00:27:02,480
Speaker 1: is something I would give anything for. You know, I

494
00:27:02,560 --> 00:27:04,000
Speaker 1: wish he was here. I wish at the very end

495
00:27:04,000 --> 00:27:06,320
Speaker 1: of tonight's game, Uh, you know, I could go on

496
00:27:06,400 --> 00:27:08,960
Speaker 1: the field and do something we did from when I

497
00:27:09,040 --> 00:27:12,080
Speaker 1: was eight nine years old, and um, you know it's

498
00:27:12,240 --> 00:27:15,600
Speaker 1: it's it's really eerie how much the movie aligns with

499
00:27:15,760 --> 00:27:18,600
Speaker 1: my life experience. One quarter two, The Yankees just one

500
00:27:18,640 --> 00:27:20,879
Speaker 1: in five on this road trip. Now in Boston, Red

501
00:27:20,960 --> 00:27:22,920
Speaker 1: Ott and Metzo's the Phillies. They just had a seven

502
00:27:22,960 --> 00:27:25,160
Speaker 1: game wins to come from an end. The Phills will

503
00:27:25,240 --> 00:27:27,640
Speaker 1: face The Mets won two ponts Max Churns, which tonight

504
00:27:27,720 --> 00:27:29,520
Speaker 1: Jacob be drawn Tomorrow. Mets have won six in a

505
00:27:29,600 --> 00:27:32,919
Speaker 1: row fifteen the last seventeen. Much like what baseball did

506
00:27:32,960 --> 00:27:37,000
Speaker 1: with Jackie Robinson's number forty two, the entire NBA is

507
00:27:37,080 --> 00:27:39,720
Speaker 1: retiring the number six worn by the late Bill Russell.

508
00:27:40,000 --> 00:27:42,680
Speaker 1: John nash Hower, Bloomberg Sports Natho by the move, Thank

509
00:27:42,760 --> 00:27:45,359
Speaker 1: you John seven on Wall Street Time for Now for

510
00:27:45,400 --> 00:27:48,280
Speaker 1: the Tri State Business Report with Bloomberg z Cory. New

511
00:27:48,359 --> 00:27:51,960
Speaker 1: York Governor Kathy Hocal Thursday green lighted a multibillion dollar

512
00:27:52,080 --> 00:27:55,760
Speaker 1: corporate tax break to draw a ship manufacturers to the state.

513
00:27:56,200 --> 00:27:59,600
Speaker 1: The move is aimed at boosting Albany's competitiveness against others

514
00:27:59,680 --> 00:28:04,000
Speaker 1: buying to build semiconductor plants. Manhattan apartment rents continued their

515
00:28:04,080 --> 00:28:07,600
Speaker 1: upward climb in July, is the hottest market in decades,

516
00:28:07,720 --> 00:28:11,359
Speaker 1: hits its busiest leasing season. The median rent on new

517
00:28:11,440 --> 00:28:15,080
Speaker 1: leases last month was one hundred and fifty dollars. That's

518
00:28:15,160 --> 00:28:18,600
Speaker 1: up two and a half percent from June, percent higher

519
00:28:18,640 --> 00:28:20,800
Speaker 1: than it was a year ago, according to appraiser Miller

520
00:28:20,920 --> 00:28:26,280
Speaker 1: Samuel and brokerage Douglas Element Real Estate. Four hundred Capital Management,

521
00:28:26,400 --> 00:28:31,040
Speaker 1: an alternative credit investment firm, assigned a lease at Brookfield Properties,

522
00:28:31,080 --> 00:28:33,840
Speaker 1: six sixty fifth Avenue in New York. The company is

523
00:28:33,880 --> 00:28:36,840
Speaker 1: more than doubling it's Manhattan office footprint with a new

524
00:28:36,960 --> 00:28:40,040
Speaker 1: lease that adds twenty five thousand, five hundred seventy two

525
00:28:40,120 --> 00:28:43,480
Speaker 1: square feet. That your Bloomberg Trying State Business Report. I'm

526
00:28:43,640 --> 00:28:46,880
Speaker 1: Ed Corey. Thanks at eight on Wall Street. Bloomberg Radio

527
00:28:47,000 --> 00:28:48,840
Speaker 1: is on the air from San Francisco to New York,

528
00:28:48,920 --> 00:28:51,160
Speaker 1: London to Hong Kong. Let's check in with our global

529
00:28:51,200 --> 00:28:52,880
Speaker 1: news team for some of the top stories heard on

530
00:28:52,960 --> 00:28:59,040
Speaker 1: our three hundred affiliate radio stations around the world. Steve

531
00:28:59,120 --> 00:29:01,200
Speaker 1: Potas got on and ten wins in New York. We're

532
00:29:01,240 --> 00:29:04,920
Speaker 1: talking about job cuts at warby Parker, as the economy blurs,

533
00:29:05,000 --> 00:29:10,200
Speaker 1: the outlook for fashion eyeglasses. Corney Donaho on kfeban omahawk,

534
00:29:10,280 --> 00:29:12,800
Speaker 1: the price of land for crops jumping in the second

535
00:29:12,880 --> 00:29:16,360
Speaker 1: quarter with demand soaring. I'm Stephen Carol and Bloomberg d

536
00:29:16,440 --> 00:29:19,080
Speaker 1: AB Digital Radio in London. We've been reporting on the

537
00:29:19,200 --> 00:29:22,480
Speaker 1: UK economy contracting in the second quarter, but by last

538
00:29:22,520 --> 00:29:26,560
Speaker 1: and have been expected. Gory on w w J and Detroit.

539
00:29:26,760 --> 00:29:29,520
Speaker 1: I'm reporting an appeals court is upheld of ruling that

540
00:29:29,640 --> 00:29:33,200
Speaker 1: nonst out a racket hearing lawsuit. GM filed against Biat,

541
00:29:33,280 --> 00:29:36,440
Speaker 1: Kreisler and former executive And those are some of the

542
00:29:36,480 --> 00:29:39,360
Speaker 1: stories our twenty seven hundred Bloomberg journalists and analysts are

543
00:29:39,400 --> 00:29:41,720
Speaker 1: working on this morning around the world. It's five thirty

544
00:29:41,800 --> 00:29:44,760
Speaker 1: nine on Wall Street. The following is an editorial from

545
00:29:44,880 --> 00:29:50,040
Speaker 1: Bloomberg Opinion. This editorial was written by the Bloomberg Editorial Board.

546
00:29:50,280 --> 00:29:53,640
Speaker 1: Has former President Donald Trump tried to cling to power

547
00:29:53,760 --> 00:29:57,320
Speaker 1: last year, a number of flaws in the US election

548
00:29:57,440 --> 00:30:01,959
Speaker 1: system became all too clear. Thankfully, one of them may

549
00:30:02,080 --> 00:30:06,400
Speaker 1: soon be fixed. After months of negotiations, a bipartisan group

550
00:30:06,480 --> 00:30:09,680
Speaker 1: of Senators has released a set of reforms to the

551
00:30:09,760 --> 00:30:14,280
Speaker 1: Electoral count Act of eighteen eighty seven. Trump's multi tiered

552
00:30:14,320 --> 00:30:18,360
Speaker 1: plot to stay in power despite losing the election hinged

553
00:30:18,480 --> 00:30:23,000
Speaker 1: on exploiting ambiguities in this law. If passed, the bill

554
00:30:23,120 --> 00:30:26,240
Speaker 1: would go a long way toward preventing a repeat of

555
00:30:26,400 --> 00:30:30,000
Speaker 1: this fiasco, and it would be a significant step toward

556
00:30:30,120 --> 00:30:35,840
Speaker 1: fixing long term problems in America's electoral machinery. This editorial

557
00:30:36,040 --> 00:30:40,240
Speaker 1: was written by the Bloomberg Editorial Board. For more Bloomberg Opinion,

558
00:30:40,520 --> 00:30:44,280
Speaker 1: please go to Bloomberg dot com, Slash Opinion or OPI

559
00:30:44,520 --> 00:30:48,560
Speaker 1: n Go on the Bloomberg terminal. This has been Bloomberg opinion,

560
00:30:48,840 --> 00:30:51,920
Speaker 1: and you can hear Bloomberg opinion editorials every weekday. At

561
00:30:51,960 --> 00:30:55,720
Speaker 1: this time, terminal customers can read more at OPI n Go.

562
00:30:56,400 --> 00:30:59,479
Speaker 1: SMP futures are higher by twenty three points right now.

563
00:30:59,560 --> 00:31:02,760
Speaker 1: Daffew cheers up on sixty eight NASTAC futures on the

564
00:31:02,880 --> 00:31:05,800
Speaker 1: rise by eighty points. The tenure treasury is up one

565
00:31:05,880 --> 00:31:08,360
Speaker 1: thirty second. The yield two point eight eight percent, yield

566
00:31:08,400 --> 00:31:11,680
Speaker 1: on the two year three point two zero percent. The

567
00:31:11,800 --> 00:31:15,120
Speaker 1: latest on the FBI search of former President Trump's home

568
00:31:15,160 --> 00:31:18,560
Speaker 1: in Florida. Bloomberg Government's Emily Wilkins joins us. Next to

569
00:31:18,640 --> 00:31:24,360
Speaker 1: this is Bloomberg Bloomberg eleven three oh weather clouds give

570
00:31:24,360 --> 00:31:26,800
Speaker 1: away to sunshine and highs in the low eighties today,

571
00:31:26,880 --> 00:31:29,480
Speaker 1: up for sixties, clear skies tonight. It will be sunny,

572
00:31:29,560 --> 00:31:32,920
Speaker 1: low eighties all weekend long. Right now seventy three in

573
00:31:32,960 --> 00:31:40,240
Speaker 1: Central Park Markets. Headlines and breaking news twenty four hours

574
00:31:40,280 --> 00:31:43,240
Speaker 1: a day at Bloomberg dot Com, the Bloomberg Business at

575
00:31:43,360 --> 00:31:47,120
Speaker 1: and at Bloomberg quctape. This is a Bloomberg Business Flash,

576
00:31:53,120 --> 00:31:56,400
Speaker 1: and I'm Karen Moscow stocks in US stock index futures

577
00:31:56,440 --> 00:31:59,840
Speaker 1: on the rises morning, investors assessing whether signs of cooling

578
00:31:59,880 --> 00:32:02,400
Speaker 1: and inflation will enable to fit to pivot a less

579
00:32:02,440 --> 00:32:05,840
Speaker 1: aggressive interest rate increases. We checked the markets every fifteen

580
00:32:05,920 --> 00:32:08,320
Speaker 1: minutes throughout the trading day. On Bloomberg Guess and P

581
00:32:08,520 --> 00:32:11,160
Speaker 1: future is up twenty three points down. Futures have one

582
00:32:11,360 --> 00:32:13,920
Speaker 1: D sixty three and NAS day future is up seventy nine.

583
00:32:14,240 --> 00:32:16,680
Speaker 1: The decks in Germany's up seven tenths of upper cent.

584
00:32:16,760 --> 00:32:19,080
Speaker 1: The ten year treasury up to thirty seconds yield two

585
00:32:19,160 --> 00:32:21,880
Speaker 1: point eight eight percent yield on the two year three

586
00:32:21,960 --> 00:32:25,040
Speaker 1: point to one percent. NIMEX crude oil is up three

587
00:32:25,080 --> 00:32:27,200
Speaker 1: tens per cent, or thirty cents and ninety four dollars

588
00:32:27,240 --> 00:32:29,800
Speaker 1: sixty three cents of barrel. Comex school that a quarter

589
00:32:29,880 --> 00:32:32,280
Speaker 1: percent or four dollars ninety cents. At eighteen o two

590
00:32:32,400 --> 00:32:35,240
Speaker 1: thirty announced the euro one point oh three oh five

591
00:32:35,280 --> 00:32:37,920
Speaker 1: against the dollar. British found one point one five zero

592
00:32:38,000 --> 00:32:40,800
Speaker 1: and again one thirty three point four zero. And look

593
00:32:40,840 --> 00:32:43,000
Speaker 1: at a bitcoin, it's down nine tenths of a percent

594
00:32:43,080 --> 00:32:46,680
Speaker 1: at twenty three thousand, nine hundred and ninety nine dollars.

595
00:32:46,800 --> 00:32:49,360
Speaker 1: That's of Bloomberg Business Flash. Now, here's Michael Barr with

596
00:32:49,480 --> 00:32:52,280
Speaker 1: more on what's going on around the world. Michael Karen,

597
00:32:52,320 --> 00:32:54,640
Speaker 1: thank you very much. FBI agents were said to be

598
00:32:54,720 --> 00:32:58,760
Speaker 1: looking for classified documents related to nuclear weapons in the

599
00:32:58,880 --> 00:33:02,160
Speaker 1: search of former Press than A Trump's Mara Lago residents.

600
00:33:02,440 --> 00:33:05,680
Speaker 1: The Washington Post reports there were major concerns among government

601
00:33:05,720 --> 00:33:08,440
Speaker 1: officials that the information could fall into the wrong hands.

602
00:33:08,480 --> 00:33:10,880
Speaker 1: We'll have more than that in a few moments. Meanwhile,

603
00:33:10,960 --> 00:33:14,200
Speaker 1: former President Trump says he supports the release of documents

604
00:33:14,240 --> 00:33:17,760
Speaker 1: related to the FBI search. Trump made the announcement following

605
00:33:17,800 --> 00:33:21,400
Speaker 1: a Justice Department request to unsealed the documents. In baseball,

606
00:33:21,440 --> 00:33:24,600
Speaker 1: the Red Sox beat the Orioles for three Thursday Night

607
00:33:24,720 --> 00:33:28,560
Speaker 1: preseason football. The Giants beat the Patriots twenty three twenty one.

608
00:33:29,000 --> 00:33:33,600
Speaker 1: The Ravens beat the Titans. Global News twenty four hours

609
00:33:33,680 --> 00:33:36,760
Speaker 1: a day on here and on Bloomberg Quicktake, powered by

610
00:33:36,840 --> 00:33:39,240
Speaker 1: more than twenty seven hundred journalists and analysts and more

611
00:33:39,240 --> 00:33:41,800
Speaker 1: than a hundred twenty countries. Now, Michael Laren, this is

612
00:33:41,840 --> 00:33:44,240
Speaker 1: Bloomberg Nathan. Thank you. Michael. Are coming up to five

613
00:33:44,320 --> 00:33:46,920
Speaker 1: forty nine on Wall Street Live from the Bloomberg Interactive

614
00:33:46,960 --> 00:33:49,920
Speaker 1: Brokers Studios. This is Bloomberg Daybreak and has promised we

615
00:33:50,000 --> 00:33:52,840
Speaker 1: do have more on the FBI search of former President

616
00:33:52,920 --> 00:33:56,840
Speaker 1: Donald Trump's mart Lago home. Bloomberg Government reporter Emily Wilkins

617
00:33:57,040 --> 00:34:00,440
Speaker 1: is with us from our nine studios in the nation's capital. Emily,

618
00:34:00,520 --> 00:34:04,640
Speaker 1: good morning. These reports that classified documents related to nuclear

619
00:34:04,760 --> 00:34:07,640
Speaker 1: material are part of the search that the FBI was

620
00:34:07,720 --> 00:34:10,920
Speaker 1: conducting earlier this week. To call it extraordinary this development

621
00:34:10,960 --> 00:34:16,440
Speaker 1: maybe understating it absolutely, Nathan, I mean classified documents related

622
00:34:16,480 --> 00:34:20,399
Speaker 1: to nuclear weapons, that they're one of the highest classified

623
00:34:20,719 --> 00:34:25,759
Speaker 1: types of documents. They have major national security implications. I

624
00:34:25,880 --> 00:34:28,560
Speaker 1: will say that based on the Washington Post reporting and

625
00:34:28,600 --> 00:34:31,200
Speaker 1: as well as Bloomberg's own reporting, there are still a

626
00:34:31,280 --> 00:34:34,880
Speaker 1: lot of unanswered questions about exactly what this information was

627
00:34:34,920 --> 00:34:37,960
Speaker 1: in regard to wasn't in regard to US nuclear weapons?

628
00:34:38,080 --> 00:34:41,440
Speaker 1: Was it regard to other countries nuclear weapons? What exactly

629
00:34:41,600 --> 00:34:45,200
Speaker 1: you know was contained within this documentation? Um, but you know,

630
00:34:45,360 --> 00:34:48,680
Speaker 1: mishandling the classified information, it's a felony charge and this

631
00:34:48,880 --> 00:34:53,040
Speaker 1: is very very sensitive information. UM. Yesterday we saw Attorney

632
00:34:53,080 --> 00:34:56,719
Speaker 1: General Merrick Garland moved to unseal the warrant as well

633
00:34:56,719 --> 00:34:59,840
Speaker 1: as a list of what was taken from Mara Lago.

634
00:35:00,360 --> 00:35:03,640
Speaker 1: Now the question the balls in Trump's court. With Trump's lawyers,

635
00:35:03,719 --> 00:35:07,320
Speaker 1: they also need to agree to unseal that warrant, and

636
00:35:07,400 --> 00:35:10,360
Speaker 1: Trump said last night on his social media treat social

637
00:35:10,480 --> 00:35:13,160
Speaker 1: that he does support on feeling the warrant um. And

638
00:35:13,920 --> 00:35:16,120
Speaker 1: the interesting wrinkle of course here, Nathan, is that Trump

639
00:35:16,160 --> 00:35:18,480
Speaker 1: could actually put out the warrant right now if he

640
00:35:18,560 --> 00:35:21,120
Speaker 1: wanted to, just like he was the one who really

641
00:35:21,160 --> 00:35:23,880
Speaker 1: initially provided a lot of details that the raid had

642
00:35:23,920 --> 00:35:26,959
Speaker 1: taken place in mar Lago. So we'll definitely be keeping

643
00:35:26,960 --> 00:35:29,520
Speaker 1: a very close eye today, do those doesn't does that

644
00:35:29,640 --> 00:35:32,200
Speaker 1: warrant gon unsealed? Do we see the contents of it?

645
00:35:32,320 --> 00:35:35,600
Speaker 1: And then of course what was included? Um clearly with

646
00:35:35,680 --> 00:35:39,160
Speaker 1: Attorney General Garland making a very rare press conference yesterday

647
00:35:39,200 --> 00:35:43,759
Speaker 1: announcing he personally approved the warrant, uh kind of just

648
00:35:43,920 --> 00:35:47,120
Speaker 1: sort of underscores how how big of a deal this is,

649
00:35:47,239 --> 00:35:49,960
Speaker 1: how completely unprecedented this is. Yeah, before we got that

650
00:35:50,040 --> 00:35:53,320
Speaker 1: Washington Post reporting, just the fact that Attorney General Garland

651
00:35:53,360 --> 00:35:56,520
Speaker 1: confirmed that he himself signed off on the warrant sounded

652
00:35:56,560 --> 00:35:58,719
Speaker 1: like it might have been the most extraordinary development we

653
00:35:58,800 --> 00:36:01,600
Speaker 1: would have heard. When are we expecting that we could

654
00:36:02,200 --> 00:36:06,880
Speaker 1: see that search warrant unsealed? As you mentioned, former President

655
00:36:06,920 --> 00:36:10,120
Speaker 1: Trump could do it himself. What's the timeline you're looking

656
00:36:10,160 --> 00:36:13,960
Speaker 1: at here? So we saw reports yesterday that the deadline

657
00:36:13,960 --> 00:36:16,360
Speaker 1: for Trump to make the decision on whether or not

658
00:36:16,480 --> 00:36:20,759
Speaker 1: to unseal needed to come by August um. But the

659
00:36:21,560 --> 00:36:24,319
Speaker 1: judge in the case told the Department of Justice, Hey,

660
00:36:24,360 --> 00:36:26,560
Speaker 1: you need to get with Trump's lawyers within within the

661
00:36:26,640 --> 00:36:28,719
Speaker 1: next twenty four hours and see how they want to

662
00:36:28,800 --> 00:36:31,879
Speaker 1: move forward. So you Trump announced pretty late last night

663
00:36:32,000 --> 00:36:34,040
Speaker 1: that you would be open to unsealing the documents. That

664
00:36:34,160 --> 00:36:37,359
Speaker 1: is obviously pretty early this morning in the US UM.

665
00:36:37,440 --> 00:36:39,200
Speaker 1: So I would be very keeping it. I'm keeping a

666
00:36:39,320 --> 00:36:41,239
Speaker 1: very close eye on it this morning to see what,

667
00:36:41,400 --> 00:36:43,600
Speaker 1: if any action is is going to be taking place.

668
00:36:43,800 --> 00:36:46,400
Speaker 1: And I know you've been speaking with members of Congress

669
00:36:46,640 --> 00:36:50,240
Speaker 1: as well. Republicans have been rallying around the president before

670
00:36:50,400 --> 00:36:53,480
Speaker 1: we learned all this new information in our last minute, Emily,

671
00:36:53,600 --> 00:36:56,480
Speaker 1: what are members of Congress that you're speaking to now

672
00:36:57,000 --> 00:37:00,560
Speaker 1: saying at this point? So it's been a little hard

673
00:37:00,600 --> 00:37:02,480
Speaker 1: to talk with members just because they have not been

674
00:37:02,520 --> 00:37:04,480
Speaker 1: in d C. They will be today and we certainly

675
00:37:04,560 --> 00:37:07,520
Speaker 1: expect to learn more at this point. But initially we

676
00:37:07,600 --> 00:37:09,920
Speaker 1: saw a lot of concerns about, you know, criticizing the

677
00:37:10,040 --> 00:37:13,239
Speaker 1: FBI saying there need to be investigations. We have not

678
00:37:13,360 --> 00:37:17,160
Speaker 1: heard a lot from Republicans since Merrick Garland's presser yesterday

679
00:37:17,200 --> 00:37:20,320
Speaker 1: and since the news broke last night. Again, it's early

680
00:37:20,360 --> 00:37:22,359
Speaker 1: in the US. I would definitely expect that to change

681
00:37:22,400 --> 00:37:25,080
Speaker 1: by the end of today. What are we likely to

682
00:37:25,239 --> 00:37:29,319
Speaker 1: learn if we do get the search warrant released? I mean,

683
00:37:29,640 --> 00:37:32,920
Speaker 1: could there be read actions, could we see that it

684
00:37:33,040 --> 00:37:35,759
Speaker 1: gets as specific as what the Washington Post has been

685
00:37:35,800 --> 00:37:39,520
Speaker 1: reporting that there were, there is the possibility of classified

686
00:37:39,560 --> 00:37:43,319
Speaker 1: documents rising to the level of nuclear weapons. That that's

687
00:37:43,360 --> 00:37:45,600
Speaker 1: a really great question, Nathan, as far as exactly what

688
00:37:45,960 --> 00:37:48,840
Speaker 1: is going to be allowed for the American public to

689
00:37:48,920 --> 00:37:51,800
Speaker 1: see at this point. Um, you know, we know that

690
00:37:51,920 --> 00:37:54,200
Speaker 1: there's the search warrant. We know that there's the list

691
00:37:54,360 --> 00:37:58,640
Speaker 1: of what the FBI took from Mara Lago. Um, we

692
00:37:58,760 --> 00:38:00,800
Speaker 1: know that there's a you know, good potential that we

693
00:38:00,840 --> 00:38:03,719
Speaker 1: could see the probable cause here. You know, why why

694
00:38:04,040 --> 00:38:06,600
Speaker 1: the Justice Department decided that they needed to have the

695
00:38:06,640 --> 00:38:08,920
Speaker 1: search warrant for Mara Lago and needed to do it

696
00:38:09,080 --> 00:38:11,520
Speaker 1: right now. Um, I think there are just a lot

697
00:38:11,560 --> 00:38:15,320
Speaker 1: of questions percolating right now. Obviously this the Washington Most report,

698
00:38:15,640 --> 00:38:18,440
Speaker 1: even though it's kind of scarce on exactly the details.

699
00:38:18,520 --> 00:38:20,520
Speaker 1: I mean, just the fact that it relates to nigular

700
00:38:20,560 --> 00:38:24,600
Speaker 1: weapons is absolutely huge. Yeah, lots more questions still to

701
00:38:24,680 --> 00:38:27,200
Speaker 1: be answered. Thanks for this. Emily will be catching up

702
00:38:27,239 --> 00:38:30,160
Speaker 1: with you throughout the morning here on Bloomberg Daybreak, That

703
00:38:30,239 --> 00:38:32,879
Speaker 1: is Bloomberg Government reporter Emily Wilkins with us this morning

704
00:38:32,960 --> 00:38:36,120
Speaker 1: from the nation's capital. Karen, all right, Nathan, thank you.

705
00:38:36,239 --> 00:38:38,920
Speaker 1: It's final fifty three on Wall Street. Now we go

706
00:38:39,000 --> 00:38:41,919
Speaker 1: to a legal story we're watching this morning, with US

707
00:38:41,960 --> 00:38:46,320
Speaker 1: Attorney General Merrick Garland making this stunning announcement yesterday that

708
00:38:46,440 --> 00:38:49,560
Speaker 1: the Justice Department is asking a federal judge to unstal

709
00:38:49,640 --> 00:38:53,040
Speaker 1: the search warrant executed for former President Donald Trump's and

710
00:38:53,080 --> 00:38:56,880
Speaker 1: Marra Lago residents. Garland's comments were a sharp departure from

711
00:38:56,920 --> 00:39:00,840
Speaker 1: the Department's usual practice of not discussing an ongo investigation,

712
00:39:01,320 --> 00:39:04,440
Speaker 1: and were intended to rebund the assertions by Trump that

713
00:39:04,600 --> 00:39:07,480
Speaker 1: his allies and his allies that the search was politically

714
00:39:07,560 --> 00:39:10,800
Speaker 1: motivated for Maura Bloomberry. Student Grosso speaks to former federal

715
00:39:10,840 --> 00:39:14,239
Speaker 1: prosecutor Robert Mints, a partner at mcarter in English. What

716
00:39:14,360 --> 00:39:16,480
Speaker 1: does it tell you that he was put into the

717
00:39:16,560 --> 00:39:21,279
Speaker 1: position where he felt he had to unseal the search warrant? Well,

718
00:39:21,360 --> 00:39:24,640
Speaker 1: it really tells us that a lot has changed in

719
00:39:24,880 --> 00:39:28,239
Speaker 1: terms of federal law enforcement. I mean, typically if you

720
00:39:28,360 --> 00:39:32,280
Speaker 1: go back years ago, and he really, up until fairly recently,

721
00:39:32,640 --> 00:39:36,280
Speaker 1: the FBI was an agency that was revered by the public.

722
00:39:36,360 --> 00:39:39,719
Speaker 1: The approval rate of the FBI and the Department of

723
00:39:39,880 --> 00:39:44,400
Speaker 1: Justice was typically extremely high. People held them in extremely

724
00:39:44,480 --> 00:39:48,400
Speaker 1: high regard. But there's been so much bashing of the FBI,

725
00:39:48,840 --> 00:39:52,840
Speaker 1: so much criticism of their investigations and some of their conduct,

726
00:39:53,239 --> 00:39:57,440
Speaker 1: that now the Attorney General felt compelled in an unprecedented

727
00:39:57,520 --> 00:40:01,360
Speaker 1: move to defend the FBI and to defend the Department

728
00:40:01,440 --> 00:40:04,320
Speaker 1: of Justice, and to explain to the American public the

729
00:40:04,400 --> 00:40:06,560
Speaker 1: basis for the search war. It, at least on a

730
00:40:06,680 --> 00:40:09,960
Speaker 1: procedural level, we still don't know what the facts were

731
00:40:10,080 --> 00:40:12,320
Speaker 1: that led to it. But he was trying to explain

732
00:40:12,400 --> 00:40:15,480
Speaker 1: to the public exactly how this works and try to

733
00:40:15,520 --> 00:40:18,560
Speaker 1: reassure them that this was all done by the book

734
00:40:18,760 --> 00:40:23,319
Speaker 1: and that there was no outside political influence involved whatsoever. So, Bob,

735
00:40:23,360 --> 00:40:27,600
Speaker 1: I'm wondering. In the motion papers, it says the search

736
00:40:27,640 --> 00:40:30,360
Speaker 1: warrant signed and improved by the court on August fifth,

737
00:40:30,600 --> 00:40:34,560
Speaker 1: including attachments A and B. Could that include the affidavit

738
00:40:34,680 --> 00:40:38,000
Speaker 1: of the FBI agent and what information would that give us? Well,

739
00:40:38,080 --> 00:40:40,000
Speaker 1: I was a question that I had in my mind

740
00:40:40,120 --> 00:40:42,680
Speaker 1: when I listened very carefully to a statement where he

741
00:40:42,719 --> 00:40:46,000
Speaker 1: talked about on stealing the warrant and the property received.

742
00:40:46,360 --> 00:40:49,120
Speaker 1: But the face of the warrant, which is typically provided

743
00:40:49,200 --> 00:40:52,879
Speaker 1: to somebody whose houses search, whose property is search only

744
00:40:53,080 --> 00:40:57,279
Speaker 1: says that the FBI or law enforcement is authorized to

745
00:40:57,520 --> 00:41:01,040
Speaker 1: look for evidence of a violation of certain crimes. And

746
00:41:01,160 --> 00:41:06,400
Speaker 1: it does stay specifically what potential criminal violations are there,

747
00:41:06,760 --> 00:41:09,279
Speaker 1: and that's the basis for the search warrant. It does

748
00:41:09,400 --> 00:41:12,400
Speaker 1: not typically give you the information that was given to

749
00:41:12,480 --> 00:41:15,600
Speaker 1: the federal judge to establish that probable cause. So the

750
00:41:15,719 --> 00:41:20,440
Speaker 1: question is will the entire search warrant application be unsealed

751
00:41:20,560 --> 00:41:24,120
Speaker 1: and be made public. That would include an affidavid from

752
00:41:24,160 --> 00:41:27,479
Speaker 1: an FBI agent that would cite the documents that would

753
00:41:27,520 --> 00:41:33,000
Speaker 1: cite to potentially cooperating witnesses and really explain not only

754
00:41:33,400 --> 00:41:36,320
Speaker 1: what they were looking for, where they were looking for it,

755
00:41:36,600 --> 00:41:40,280
Speaker 1: but also the basis for that search, how they established

756
00:41:40,480 --> 00:41:44,520
Speaker 1: probable cause, and also, and this is really critical, also

757
00:41:44,800 --> 00:41:50,120
Speaker 1: established why they believe that a less intrusive means was

758
00:41:50,239 --> 00:41:52,520
Speaker 1: not available to them, because that's something that has to

759
00:41:52,600 --> 00:41:55,360
Speaker 1: be established in order to get a search warrant precedented

760
00:41:55,400 --> 00:41:59,000
Speaker 1: stpths and as a partner at a carter in English

761
00:41:59,000 --> 00:42:01,920
Speaker 1: speaking at the Bloomberry Student Grosso. Catch more of that interview,

762
00:42:02,000 --> 00:42:05,000
Speaker 1: plus analysis of the latest legal news by subscribing to

763
00:42:05,040 --> 00:42:08,120
Speaker 1: the Bloomberg Law Podcast or downloading this show at Bloomberg

764
00:42:08,200 --> 00:42:11,960
Speaker 1: dot com slash podcasts. Attorneys can find exceptional legal research

765
00:42:12,040 --> 00:42:15,080
Speaker 1: and business development tools at Bloomberg Law dot com and

766
00:42:15,200 --> 00:42:19,280
Speaker 1: on the Bloomberg terminal at b law Go. And futures

767
00:42:19,320 --> 00:42:22,279
Speaker 1: this morning are on the rise, with SMP futures up

768
00:42:22,320 --> 00:42:25,960
Speaker 1: about twenty five points down, futures up one D seventy three,

769
00:42:26,040 --> 00:42:29,320
Speaker 1: and nasdag future is up eighty nine. Ten year treasury

770
00:42:29,400 --> 00:42:32,320
Speaker 1: up to thirties seconds yield two point eight seven percent,

771
00:42:32,400 --> 00:42:34,440
Speaker 1: and they yield on the two year three point to

772
00:42:34,640 --> 00:42:37,920
Speaker 1: zero percent, and nimex screwed. Oil is up two tenths

773
00:42:37,960 --> 00:42:40,680
Speaker 1: of a percent. Still ahead, on Bloomberg Daybreak, can check

774
00:42:40,719 --> 00:42:43,359
Speaker 1: off the business headlines and all the news you need

775
00:42:43,480 --> 00:42:46,480
Speaker 1: to start your day. And this is Bloomberg