WEBVTT - Bloomberg Daybreak: December 23, 2022 - Hour 2 (Radio) 0:00:01.840 --> 0:00:05.240 Markets, headlines and breaking news twenty four hours a day 0:00:05.320 --> 0:00:08.319 at Bloomberg dot Com, The Bloomberg Business at Hand At 0:00:08.320 --> 0:00:17.840 Bloomberg Quick Tape, Chris is a Bloombern business lash and 0:00:17.880 --> 0:00:20.480 I'm Karen. Moscow Future is on the rise this morning. 0:00:20.600 --> 0:00:23.080 SMP future is up about seven points or two tens 0:00:23.079 --> 0:00:25.320 of upper sent down futures of eighty one or a 0:00:25.400 --> 0:00:28.280 quarter percent, and NAS day futures up about two tens 0:00:28.280 --> 0:00:30.880 of upper cent or nineteen points. Attacks in Germany's up 0:00:30.880 --> 0:00:33.360 two tenths of a percent. Ten year treasury on eight 0:00:33.360 --> 0:00:36.000 thirty seconds, he'll three point seven zero percent. They yield 0:00:36.040 --> 0:00:38.480 on the two year four point to eight percent. Nine 0:00:38.520 --> 0:00:40.559 max Screwed oil is up two point four percent of 0:00:40.560 --> 0:00:42.839 a dollar eighty three at seventy nine dollars thirty two 0:00:42.880 --> 0:00:45.400 cents of barrel comex gold up six tens percent or 0:00:45.440 --> 0:00:48.199 ten dollar sixty cents at eighteen oh five ninety announced 0:00:48.479 --> 0:00:50.920 the euro one point oh six one two against the dollar, 0:00:50.960 --> 0:00:53.440 British found one point two zero six seven the ends 0:00:53.479 --> 0:00:56.040 a one thirty two point seven three, and Bitcoin is 0:00:56.120 --> 0:00:58.520 up a third of a percent at about sixteen thousand, 0:00:58.560 --> 0:01:01.480 eight hundred fifty dollars and that's of Bloomberg Business Flash, 0:01:01.640 --> 0:01:05.119 Nathan Karen, thank you to six fifty six on Wall Street. 0:01:05.160 --> 0:01:08.800 Bloomberg surveillances straight ahead. First, let's look under these games 0:01:08.880 --> 0:01:11.160 we're seeing in the futures contract. Some of the pre 0:01:11.240 --> 0:01:14.480 market movers were joined now by Bloomberg Equities reporters Sagreka, 0:01:14.600 --> 0:01:18.479 Jason Ghani, Sagrica. Good morning, got to start with Tesla. 0:01:18.760 --> 0:01:22.720 Are investors buying now that Elon Musk says he's stunned selling? 0:01:24.200 --> 0:01:26.960 Good morning, Nathan, and thank you for having me. That's right. 0:01:27.000 --> 0:01:29.960 Elon Musk is back in focus this morning as you 0:01:30.000 --> 0:01:33.120 sat first time. It's with Tesla, which is dating a 0:01:33.200 --> 0:01:36.600 premarket shading. It's about it's up about a descent at 0:01:36.640 --> 0:01:40.080 the moment after Musk said he isn't planning to say 0:01:40.080 --> 0:01:43.080 any motions in the company for two years. Just to 0:01:43.160 --> 0:01:46.640 put that into context. Musk has sold about forty billion 0:01:46.760 --> 0:01:49.840 dollars of stock this year, mainly to find his takeover 0:01:50.160 --> 0:01:53.800 of Twitter and after being one of the out performers 0:01:53.880 --> 0:01:57.280 in the post COVID stalking about recovery, Tessa shares a 0:01:57.320 --> 0:02:01.080 dan about sixty four pc this year. UM investors just 0:02:01.280 --> 0:02:04.680 this week have raised concerns that the Twitter takeover could 0:02:04.840 --> 0:02:08.400 distract Musk from Tesla at a time when the demand 0:02:08.480 --> 0:02:11.360 for electric vehicles is already slowing. So it will also 0:02:11.440 --> 0:02:14.320 be interesting to see if Mask keeps his word this time, 0:02:14.760 --> 0:02:17.800 as he has said previously that he would stop selling shares, 0:02:18.160 --> 0:02:20.560 but then he just went on to sell more. Yeah, 0:02:20.600 --> 0:02:22.320 it was interesting as well, to say, a pretty big 0:02:22.360 --> 0:02:25.080 move in one of the favorites this year for retail traders, 0:02:25.160 --> 0:02:28.240 AMC Entertainment. They came out with that plan to convert 0:02:28.320 --> 0:02:32.160 preferred equity and the shares dropped a pretty significantly yesterday. 0:02:32.200 --> 0:02:36.239 How's AMC doing this morning? That's right, it's it's down 0:02:36.400 --> 0:02:39.680 about seven percent again this morning. Um so, as you said, 0:02:39.919 --> 0:02:43.560 MC which of course operates the world's largest movies see 0:02:43.560 --> 0:02:45.840 at the chain. So it looks like it's set for 0:02:45.880 --> 0:02:49.280 another day of declines after it proposed yesterday that it 0:02:49.440 --> 0:02:53.240 would convert preferred equity units into common shares. The main 0:02:53.639 --> 0:02:57.480 UH motive for that is to avoid becoming a penny stock, 0:02:57.880 --> 0:03:00.200 and the company is seeking a special share hole they're 0:03:00.200 --> 0:03:03.440 needing to vote on the board proposals. Now, the show 0:03:03.440 --> 0:03:06.440 has had tumbled about two yesterday at one point, but 0:03:06.560 --> 0:03:10.680 it is. Uh. It's worthy of noting that they did 0:03:10.800 --> 0:03:12.840 pare a lot of that at the time they closed, 0:03:13.040 --> 0:03:15.440 so it could go either way today. So you're watching 0:03:15.480 --> 0:03:18.239 another name that's moving on earnings this morning. You're making 0:03:18.280 --> 0:03:23.600 me hungry Sagrica with this report on Mission Produce, the 0:03:24.040 --> 0:03:29.040 avocado supplier absolutely always um, you know, breakfast hab which 0:03:29.120 --> 0:03:34.359 is called to us as all those things, and Mission 0:03:34.400 --> 0:03:38.400 Produce isn't moving yet this morning, but it did slump 0:03:38.440 --> 0:03:41.520 about thirteen percent after the closing bell yesterday when the 0:03:41.560 --> 0:03:45.040 company reported disappointing results for the fourth quarter, and it 0:03:45.160 --> 0:03:48.080 has also forecast little pricing in the first quarter on 0:03:48.160 --> 0:03:51.960 a sequential basis. However, in a bright spot, it did 0:03:52.080 --> 0:03:54.600 say that the industry is expecting volumes to be higher 0:03:54.760 --> 0:03:58.440 in the next quarter, primarily due to expectations for a 0:03:58.520 --> 0:04:03.560 larger Mexican harvest. All right, So, Jyson Ghani, Bloomberg Equities reporter, 0:04:03.800 --> 0:04:06.400 thanks for this. Really appreciate you having having you on 0:04:06.520 --> 0:04:09.000 with us this morning. Looking ahead to the market, open 0:04:09.360 --> 0:04:12.800 futures are moving higher, SMP futures of five points, staff 0:04:12.840 --> 0:04:16.040 futures up seventy one, and NASAC features are on the 0:04:16.120 --> 0:04:19.040 rise right now. By thirteen points ten. Your treasuries down 0:04:19.120 --> 0:04:21.960 seven thirty seconds, yield three point seven per cent. This 0:04:22.240 --> 0:04:25.320 is Bloomberg Daybreak. I'm Nathan Hagar along with Karen Moscow. 0:04:25.760 --> 0:04:32.040 Bloomberg Surveillance starts right now by from the financial capital 0:04:32.120 --> 0:04:35.960 of the world, broadcasting across the globe. This is w BBR, 0:04:36.080 --> 0:04:47.719 New York, Bloomberg. He Living Foe. This is the most expected, 0:04:47.880 --> 0:04:54.839 most anticipated procession ever. Markets headlines and breaking news twenty 0:04:54.880 --> 0:04:57.719 four hours a day at Bloomberg dot Com, the Bloomberg 0:04:57.760 --> 0:05:01.320 Business at and at Bloomberg Quick Tape. He's a Bloomberg 0:05:01.400 --> 0:05:10.120 Business Lange and I'm Karen Moscow. And futures around the 0:05:10.240 --> 0:05:12.239 rise this morning. Let's go to the first word breaking 0:05:12.320 --> 0:05:15.159 news dance for today's morning call. And here's Bill Maloney. Bill, 0:05:15.200 --> 0:05:18.920 good morning, Hey, Good morning, Karen. A modest bounce in 0:05:18.920 --> 0:05:21.159 the futures. Fuys today sell UF with dout futures up 0:05:21.200 --> 0:05:24.479 eighty two points, supes gained seven and nastic futures rise 0:05:24.800 --> 0:05:27.960 by two. The US ten year old at three point 0:05:28.080 --> 0:05:30.520 seven percent, Gold is hired by five, Oil is in 0:05:30.560 --> 0:05:34.360 the green, and bitcoin is trading little change. Japan fell 0:05:34.480 --> 0:05:37.600 one overnight, while up markets are quiet. This morning, and 0:05:37.760 --> 0:05:39.880 back in the US on the economic Frinday at thirty 0:05:40.000 --> 0:05:42.640 pc to flatter and durable goods orders and at ten 0:05:42.640 --> 0:05:46.240 o'clock Michigan sentiment and new home sales. You know the news. 0:05:46.320 --> 0:05:49.240 Elon musk vow to stop selling Tesla shares for the 0:05:49.320 --> 0:05:53.080 next two years, and Facebook agreeds to pay seven twenty 0:05:53.160 --> 0:05:57.960 five million over the Cambridge Analytical Analytica scandal. Wrapping things up, 0:05:58.080 --> 0:06:02.200 Charlotte was upgraded to equate Rrett Wells Fargo Live from 0:06:02.200 --> 0:06:05.120 the first breaking news discon fill Maloney care fret bill. 0:06:05.160 --> 0:06:07.440 Thanks to dear live breaking news. O your Bloomberg types, 0:06:07.480 --> 0:06:10.160 squawk on your terminal SCU a w K and that's 0:06:10.160 --> 0:06:12.760 a Bloomberg business flash. Now here's Michael Barr with more 0:06:12.839 --> 0:06:15.120 on what's going on around the world. Michael Karen, thank 0:06:15.160 --> 0:06:17.960 you very much. Frigid air making its way east across 0:06:18.120 --> 0:06:22.680 the US, with several states issuing blizzard warnings, metrologists warning 0:06:22.720 --> 0:06:27.440 the conditions could create bomb cyclone conditions and spots whether 0:06:27.480 --> 0:06:31.280 it's also caused widespread travel disruptions. The Senate passed one 0:06:31.360 --> 0:06:34.559 point seven trillion dollars spending bill yesterday in an effort 0:06:34.600 --> 0:06:37.280 to stop a government shutdown. The bill now heads to 0:06:37.360 --> 0:06:40.679 the House, where it is expected to pass. In the NFL, 0:06:40.800 --> 0:06:44.600 the Jets lost to the Jaguars. In the NHL, the 0:06:44.760 --> 0:06:47.920 Islanders beat the Rangers five three the Bruins one. In 0:06:48.040 --> 0:06:52.000 the NBA, the Wizards lost. Global News twenty four hours 0:06:52.080 --> 0:06:55.160 a day on air and on Bloomberg Quicktake, powered by 0:06:55.240 --> 0:06:58.200 more than twenty seven hundred journalist analysts in more than 0:06:58.200 --> 0:07:01.320 a hundred twenty countries. I'm Michael, This is Bloomberg. Karen, 0:07:01.520 --> 0:07:03.560 all right, Michael Bart, thank you. At six forty two 0:07:03.640 --> 0:07:05.560 on Wall Street, we turned to news and science and 0:07:05.600 --> 0:07:08.840 technology now with the Bloomberg and j I T stem Reboard, 0:07:08.920 --> 0:07:12.320 and here's what's making news and science, technology, engineering, and math. 0:07:12.840 --> 0:07:16.520 Bion Tech has begun human trials on a vaccine for malaria. 0:07:16.880 --> 0:07:19.640 It's a fresh test for the messenger RNA technology that 0:07:19.720 --> 0:07:23.680 powered the most successful immunizations against COVID nineteen. The first 0:07:23.720 --> 0:07:25.840 patient was dosed two days ago. In the phase one 0:07:25.880 --> 0:07:29.360 study will enroll sixty patients and use three different doses 0:07:29.400 --> 0:07:32.800 for a single vaccine candidate. According to bion Tech CEO 0:07:33.920 --> 0:07:37.320 Wahwei has secured an extension to a patent licensing deal 0:07:37.400 --> 0:07:40.720 with Nokia, suggesting the Chinese company continues to lead in 0:07:40.840 --> 0:07:45.360 networking technology. The announcement indicates appetite for access to Wahwei's 0:07:45.440 --> 0:07:49.400 next generation telecom patents remains strong. That's in spite of 0:07:49.520 --> 0:07:53.320 US accusations the Chinese giant poses a threat to national 0:07:53.400 --> 0:07:59.239 security and in massive final stage trials under way at ELI, 0:07:59.360 --> 0:08:03.000 Lilly and a side researchers planned to test brain plaque 0:08:03.080 --> 0:08:06.960 removing drugs on thousands of healthy adults. Now the hope 0:08:07.040 --> 0:08:09.880 is to stave off cognitive decline before it begins, or 0:08:09.880 --> 0:08:12.360 at least delay it. And it's an ethic drug makers 0:08:12.400 --> 0:08:16.760 are testing in hopes of stopping Alzheimer's before it starts. 0:08:16.840 --> 0:08:19.360 That's really one to watch, Nathan Heger, that's the Yeah, 0:08:19.400 --> 0:08:22.160 it's a bloomberg nj I t STEM report that could 0:08:22.160 --> 0:08:24.840 be a remarkable breakthrough if it goes through. It's something 0:08:24.920 --> 0:08:27.480 that I know that the Alzheimer's patients have been waiting 0:08:27.560 --> 0:08:30.800 for for years. Thank you for this, Karen. We're coming 0:08:30.920 --> 0:08:33.719 up too on Wall Street and it's time now to 0:08:33.800 --> 0:08:37.360 check what's going on in DC. Hardly a sleepy December 0:08:37.400 --> 0:08:40.319 in the nation's capital. The January sixth Committee just dropped 0:08:40.360 --> 0:08:44.199 its final report, and it blasts former President Donald Trump 0:08:44.480 --> 0:08:47.680 for the capital assault. Also making news a giant funding 0:08:47.760 --> 0:08:50.880 bill passing the U. S. Senate Ukraine aid and election fix. 0:08:51.360 --> 0:08:54.920 No new COVID funds though in this legislation, and President 0:08:55.000 --> 0:08:58.920 Biden targeting Russian mercenaries the latest round of sanctions over 0:08:58.960 --> 0:09:02.040 the war in Ukraine bloom for government. Reporter Emily Wilkins 0:09:02.280 --> 0:09:05.440 is taking some time away from pouring through the January 0:09:05.480 --> 0:09:08.800 six report to give us an idea of what's in it. Emily, 0:09:08.880 --> 0:09:11.280 good morning. I guess the big takeaway is that for 0:09:11.360 --> 0:09:15.040 this committee, blame for the insurrection comes down to one man, 0:09:15.600 --> 0:09:20.000 Donald Trump. Yeah, that's been the committee's feeds us all along. 0:09:20.120 --> 0:09:22.480 And now the Committee is saying that they need to 0:09:23.040 --> 0:09:25.680 Congress brother needs to move to make sure that Trump 0:09:26.040 --> 0:09:29.839 cannot be president again, that the others involved with the 0:09:30.320 --> 0:09:34.160 January six insurrection also cannot hold any sort of government 0:09:34.280 --> 0:09:38.760 office or military office. Um. This comes uh as the 0:09:38.880 --> 0:09:41.199 report basically summarizes a lot of what we saw the 0:09:41.200 --> 0:09:44.360 Committee already discussed in their last several hearings, but we 0:09:44.440 --> 0:09:46.280 have gotten a couple of new details, such as the 0:09:46.360 --> 0:09:49.280 fact that the Trump campaign tried to contact nearly two 0:09:49.400 --> 0:09:52.600 hundred state legislatures to get support for state level action 0:09:52.720 --> 0:09:56.160 on overturning election results. That includes lawmakers and the key 0:09:56.240 --> 0:10:00.079 states of Pennsylvania and Michigan. UM. So, really just the 0:10:00.360 --> 0:10:02.439 report is just sort of capping off a lot of 0:10:02.520 --> 0:10:05.480 what we've already heard and seen from the committee. Um 0:10:05.720 --> 0:10:09.839 just in terms of really the solidifying that recommendation that 0:10:09.960 --> 0:10:13.000 Trump not be allowed to hold public elected office. Again, 0:10:13.640 --> 0:10:16.679 what do you expect happens now? Emily, This committee has 0:10:16.720 --> 0:10:19.439 been meeting holding hearings for more than a year and 0:10:19.520 --> 0:10:22.160 a half. Now it's come out with its final report. 0:10:22.240 --> 0:10:24.160 But as you know, the committee is going to be 0:10:24.200 --> 0:10:26.480 disbanded in the next couple of weeks here when the 0:10:26.559 --> 0:10:29.920 new Congress comes in. The ball is really really now 0:10:30.000 --> 0:10:32.960 in the Justice Department's court. They've also been looking into 0:10:33.120 --> 0:10:37.080 and investigating, uh, what's what happened with the insurrection as 0:10:37.120 --> 0:10:39.960 well as Trump's attempts to overturn the election. Remember they 0:10:40.040 --> 0:10:42.800 hired that special counsel to try and make it a 0:10:42.840 --> 0:10:46.440 little less politicized as well. Uh, And so we're going 0:10:46.480 --> 0:10:48.400 to just be wait waiting for them to see what 0:10:48.559 --> 0:10:51.199 their results are. We know that investigation is underway that 0:10:51.280 --> 0:10:53.680 they're seeking documents and a lot of what we are 0:10:53.720 --> 0:10:57.160 seen in this January six Committee report that's going to 0:10:57.240 --> 0:11:00.880 be going towards the Justice Department and towards their investigation. 0:11:01.280 --> 0:11:03.600 So the fact that we have all these transcripts out now, 0:11:03.679 --> 0:11:06.840 all these text message that the Committee has really released 0:11:06.840 --> 0:11:09.199 their trope of data. A lot of that is going 0:11:09.280 --> 0:11:12.440 to go now toward the Justice departments that own investigation. 0:11:13.200 --> 0:11:15.439 What about the recommendations that are coming out of this 0:11:15.600 --> 0:11:18.599 report from the Bloomberg reporting on the terminal, there's a 0:11:18.720 --> 0:11:22.480 lot of detail, a lot of summarizing of what happened 0:11:22.559 --> 0:11:25.600 during the insurrection, But when it comes to what comes 0:11:25.679 --> 0:11:29.160 next from what this committee is recommending, it seems as 0:11:29.240 --> 0:11:32.959 though it's a little bit vague, a little bit, a 0:11:33.040 --> 0:11:35.240 little bit thin when it comes to what the committee 0:11:35.280 --> 0:11:38.560 wants to see. Well, for a certain part, with the committee, 0:11:38.600 --> 0:11:40.800 they're limited in what they can do, right, I mean, 0:11:40.920 --> 0:11:44.240 they're not able to pass legislation, they're not able to 0:11:44.600 --> 0:11:48.160 actually bring charges against someone. What the committee, and what 0:11:48.280 --> 0:11:50.679 you've really heard from lawmakers who sat on it from 0:11:50.720 --> 0:11:53.360 the beginning have said is that they really want to 0:11:53.480 --> 0:11:56.240 make sure that they are doing a thorough investigation into 0:11:56.320 --> 0:11:59.400 what happened there see themselves as writing sort of like 0:11:59.520 --> 0:12:03.839 a comphensive, drafted history of exactly what happened in the 0:12:03.960 --> 0:12:07.280 lead up to January six and on January six, and 0:12:07.679 --> 0:12:11.319 that's what they really reframed their efforts. As there was 0:12:11.400 --> 0:12:14.040 debate among the committee as to whether do any sort 0:12:14.040 --> 0:12:17.120 of criminal referral to what to refer they wound up 0:12:17.160 --> 0:12:19.880 with four charges more we're discussed, um So, I think 0:12:19.920 --> 0:12:21.959 we're sort of seeing the limits of the of the 0:12:22.080 --> 0:12:25.120 committee's power right now and exactly what they're going to 0:12:25.200 --> 0:12:27.840 do going forward, because you're right, Nathan, I mean they're 0:12:27.880 --> 0:12:31.680 going to disband and Republicans are are you know, if anything, 0:12:31.720 --> 0:12:33.599 they're going to set up a committee to investigate the 0:12:33.679 --> 0:12:36.400 January six Committee, but we're not going to see a 0:12:36.480 --> 0:12:39.520 lot of these investigative efforts next Congress. Kind of about 0:12:39.520 --> 0:12:41.160 a minute or so left here, Emily and I guess 0:12:41.200 --> 0:12:43.839 the final act of this Congress is to pass a 0:12:44.320 --> 0:12:47.400 massive spending bill. It got a bipartisan vote in the 0:12:47.600 --> 0:12:50.000 Senate last night. What are we expecting out of the House. 0:12:51.240 --> 0:12:53.559 It's all just a matter of process now, Nathan. We 0:12:53.679 --> 0:12:56.319 are expecting the House to pass that of course Democrats 0:12:56.360 --> 0:12:58.679 have the votes. We saw a couple of Republicans as 0:12:58.720 --> 0:13:01.880 well being supportive of the week long extension to get 0:13:02.000 --> 0:13:04.360 us to this point. Um, we are. We do know 0:13:04.559 --> 0:13:06.679 that this isn't going to get the same level of 0:13:06.760 --> 0:13:11.160 bipartisan support that it got over in the Senate. Republicans 0:13:11.200 --> 0:13:14.480 have been really strongly whipping against this bill. Um, including 0:13:14.520 --> 0:13:17.560 the House Minority Leader Kevin McCarthy, who's said to become 0:13:17.640 --> 0:13:21.320 speaker next year but has a handful of Republican colleagues 0:13:21.360 --> 0:13:23.319 who are saying, you know, we're not too sure. We're 0:13:23.360 --> 0:13:26.920 concerned about spending, So this will be it's a chance 0:13:26.960 --> 0:13:29.280 for Kevin McCarthy to try to show his members that 0:13:29.400 --> 0:13:32.199 he is serious about cutting spending. But at the same point, 0:13:32.520 --> 0:13:34.800 there's every indication that this bill is going to pass. 0:13:35.080 --> 0:13:37.680 The only reason that has it yet is because there's 0:13:37.720 --> 0:13:40.559 a whole network of processes of procedures that have to 0:13:40.640 --> 0:13:43.120 go on and they just weren't able to get those 0:13:43.280 --> 0:13:46.480 done by Thursday, and so that's why we're coming back today. 0:13:47.000 --> 0:13:48.920 But the House is very much expected to pass this 0:13:49.040 --> 0:13:51.959 one point seven trillion government funding bill. Yeah, I'm sure 0:13:51.960 --> 0:13:53.559 they want to do it in a hurry. Before the 0:13:53.800 --> 0:13:57.880 temperatures get really really cold and a big winter storm heads. 0:13:57.920 --> 0:14:02.320 Washington's very worried about. Yeah, I would imagine so. Emily 0:14:02.440 --> 0:14:05.600 Wilkins of Bloomberg Government, as always, thanks for keeping us 0:14:05.640 --> 0:14:08.480 up to speed on what's happening in the nation's capital. 0:14:08.559 --> 0:14:11.480 Hope you and yours have a very happy holiday, and 0:14:11.600 --> 0:14:14.040 we'll talk again in the new year. Bloomberg Government's Emily 0:14:14.080 --> 0:14:17.080 Wilkins with us this morning. Read more at Bloomberg dot 0:14:17.120 --> 0:14:19.040 com or on the Bloomberg terminal, where you can find 0:14:19.080 --> 0:14:21.880 a link to the January six report as well, and 0:14:22.120 --> 0:14:25.080 follow all the latest on Bloomberg Radio in Washington Bloomberg 0:14:26.240 --> 0:14:29.480 and one oh five point seven FM HD two SFP 0:14:29.600 --> 0:14:31.960 futures are highered now by seven points staff futures of 0:14:32.040 --> 0:14:34.800 eighty three NASDAC futures on the rise by twenty six 0:14:34.920 --> 0:14:38.560 points ten. Your treasuries down eight thirty seconds, yield three 0:14:38.600 --> 0:14:40.840 point seven zero percent, and the yield on the two 0:14:40.880 --> 0:14:44.880 year right now four point to eight per cent. Check bitcoin, 0:14:45.400 --> 0:14:48.320 it's up three tenths per cent, six fifty. This is 0:14:48.360 --> 0:14:55.280 Bloomberg Markets, headlines and breaking news twenty four hours a 0:14:55.360 --> 0:14:58.320 day at Bloomberg dot com. Bl Bloomberg Business at and 0:14:58.520 --> 0:15:08.160 at Bloomberg Quick Tape, She's a Bloomburn Business Flash and 0:15:08.240 --> 0:15:11.040 I'm Karen Moscow. US Dock Index futures are a higher 0:15:11.320 --> 0:15:14.160 ahead of inflation data do out later this morning. We 0:15:14.280 --> 0:15:16.280 checked the markets all day long here on Bloomberg, with 0:15:16.440 --> 0:15:19.560 SNP futures up twelve points or three tens of uppercent. 0:15:19.920 --> 0:15:22.240 Dow and Nastack future is both also up three tens 0:15:22.280 --> 0:15:24.920 of uppercent, but down features up a hundred fifteen points 0:15:24.920 --> 0:15:27.840 and Nastack features up thirty six. The decks in Germany's 0:15:27.880 --> 0:15:30.520 up about four tens of a percent. Ten year treasury 0:15:30.600 --> 0:15:33.000 down nine thirty seconds. He'll three point seven one percent. 0:15:33.120 --> 0:15:35.480 They yield on the two year four point to nine percent. 0:15:35.960 --> 0:15:38.360 Nimex screwed oil is up one point eight percent of 0:15:38.400 --> 0:15:40.600 a dollar thirty five at seventy eight dollars eighty six 0:15:40.640 --> 0:15:43.000 cents of barrel called MIxS gold up six tens percent 0:15:43.120 --> 0:15:45.440 or eleven dollars fifty cents, and eighteen o six eighty 0:15:45.440 --> 0:15:48.640 announced the Euro one point six two five against the dollar, 0:15:48.640 --> 0:15:51.040 British pound one point two zero eight seven. They had 0:15:51.120 --> 0:15:53.640 one thirty two point six seven and bitcoins up three 0:15:53.720 --> 0:15:57.240 tens of percent at about sixteen thousand, eight hundred fifty dollars. 0:15:57.520 --> 0:15:59.920 Investors will be focused on the core PC to fla 0:16:00.000 --> 0:16:02.600 eater today. It's a key inflation measure track by the Fed. 0:16:02.960 --> 0:16:05.960 Saturday Wall Street Town, along with personal income and spending 0:16:05.960 --> 0:16:08.600 in direble goods, orders on new home sales, and consumer 0:16:08.640 --> 0:16:11.480 sentiment arount of ten and that's a Bloomberg business flash. 0:16:11.560 --> 0:16:13.600 Now here's Michael Barr with Moore on what's going on 0:16:13.720 --> 0:16:16.040 around the world. Michael, Karen, thank you very much. A 0:16:16.040 --> 0:16:19.360 Winders storm has caused thousands of flight cancelations amid one 0:16:19.360 --> 0:16:22.560 of the most treacherous holiday travel seasons in the nation 0:16:23.200 --> 0:16:26.880 that has ever been in decades. The House committee investigating 0:16:26.920 --> 0:16:29.760 the January sixth attack on the U. S. Capitol delivered 0:16:29.800 --> 0:16:33.120 a scathing report, and its released yesterday. I blame one man, 0:16:33.320 --> 0:16:36.920 former President Donald Trump, for inciting violence to try and 0:16:37.000 --> 0:16:40.120 hold onto power. The Senate passed one point seven trillion 0:16:40.160 --> 0:16:43.000 dollars spending bill in an effort to stop a government shutdown. 0:16:43.520 --> 0:16:45.880 In the NFL, it looks like New York's Gang Green 0:16:46.000 --> 0:16:50.040 suffered from jet jag. The Jets lost to the Jaguars 0:16:50.880 --> 0:16:54.400 nine three. The NHL, the Islanders beat the Rangers, the 0:16:54.440 --> 0:16:57.640 Bruins one NBA of the Wizard's loss. Global news twenty 0:16:57.680 --> 0:16:59.920 four hours a day on air, end on Bloomberg Quick Take, 0:17:00.200 --> 0:17:03.000 powered by more than twenty seven journalists and analysts more 0:17:03.000 --> 0:17:06.240 than a hundred twenty countries. Michael Barr, this is Bloomberg, Nathan, 0:17:06.320 --> 0:17:08.160 Thank you, Michael. We're coming up to six twenty four 0:17:08.160 --> 0:17:11.320 on Wall Street. I'm Nathan Hagar. This is Bloomberg Daybreak. 0:17:11.320 --> 0:17:13.440 And later today, the House takes its final action of 0:17:13.480 --> 0:17:16.240 the year, one point seven trillion dollars spending bill that 0:17:16.280 --> 0:17:18.840 includes billions at eight to Ukraine. The Senate passed it 0:17:18.920 --> 0:17:21.959 on a bipartisan vote last night, a day after Ukrainian 0:17:22.000 --> 0:17:25.200 President Voladivir Zelenski came to Washington addressing Congress in his 0:17:25.280 --> 0:17:28.439 first trip outside his war torn country since the Russian 0:17:28.480 --> 0:17:31.080 invasion began. And for more on what the speech meant 0:17:31.119 --> 0:17:34.080 to lawmakers, Bloomberg's Joe Matthew spoke with former Ambassador to 0:17:34.160 --> 0:17:37.959 Poland Daniel Freed, that speech brought home to a lot 0:17:38.000 --> 0:17:41.720 of members of Congress that this is a real war 0:17:42.280 --> 0:17:47.160 and the Ukrainians are fighting back. Zelenski symbolizes their resistance, 0:17:47.280 --> 0:17:50.680 and those kind of human moments make a difference. I 0:17:50.760 --> 0:17:56.920 remember when luck Lewenza spoke to Congress in uh they 0:17:58.359 --> 0:18:02.320 increased US assists for Poland right at the beginning of 0:18:02.400 --> 0:18:07.280 its transformation. Now communism has already gone when Valencia is here, 0:18:07.600 --> 0:18:11.879 and the fighting is still raging in Ukraine. But speeches 0:18:12.040 --> 0:18:16.480 like this by leaders who symbolize resistance, or Winston Churchill 0:18:16.560 --> 0:18:20.679 coming to Washington right after Pearl Harbor, so those are 0:18:20.720 --> 0:18:24.600 fair comparisons. In Yeah, well, I think I think it's fair. 0:18:25.160 --> 0:18:28.800 This is a big war. Plutins started a major land 0:18:28.880 --> 0:18:31.120 war in Europe. We haven't seen this in Europe since 0:18:31.240 --> 0:18:35.879 nine and it's a war of conquest. So you bet 0:18:35.960 --> 0:18:38.879 it's a big deal. And American interests are at stake 0:18:39.680 --> 0:18:42.800 there at stake now in Ukraine, the same way we 0:18:42.920 --> 0:18:46.080 had interests at stake in Europe during World War Two, 0:18:47.720 --> 0:18:50.080 and for the same reason. By the way, the one 0:18:50.200 --> 0:18:53.960 sentence is it's not an American interest to have dictators 0:18:55.040 --> 0:18:59.840 trampling other countries in Europe. It's not in the American interest. 0:19:01.240 --> 0:19:04.840 Rose Republicans were in the chamber for the speech. We 0:19:04.960 --> 0:19:08.119 know that there were several of them, not applauding or 0:19:08.560 --> 0:19:12.840 or standing for the ovations. Ambassador, what's your thought on that? 0:19:12.920 --> 0:19:17.040 What would be your message to them? Well, what would 0:19:17.119 --> 0:19:22.399 Ronald Reagan say? He'd be applauding a fighter for freedom. 0:19:23.240 --> 0:19:26.800 He believed in in those fighting for freedom. He didn't 0:19:26.840 --> 0:19:32.960 believe in caving to dictators. And I do understand the 0:19:33.160 --> 0:19:35.800 calls for a good accounting of the money that we've 0:19:35.840 --> 0:19:39.240 been spending on behalf of the Ukrainians, and I think 0:19:39.280 --> 0:19:43.159 the Biden administration is ready to answer those questions. But 0:19:43.359 --> 0:19:47.880 for some it's not what Some Republicans of minority, thank goodness, 0:19:48.440 --> 0:19:50.760 I think it's not in the American interest, or a 0:19:50.880 --> 0:19:53.800 few are even on Putin side, which is simply revolting. 0:19:55.400 --> 0:20:00.040 Do you believe that money has been spent wisely? I 0:20:00.119 --> 0:20:05.200 think so, and I think that Ukraine's resistance has been 0:20:05.280 --> 0:20:09.680 made possible by the weapons that the Americans have sent. 0:20:09.800 --> 0:20:14.000 That we have sent. That's a good investment. You're investing 0:20:14.240 --> 0:20:19.399 in freedom and investing in showing a dictator that's Vladim 0:20:19.440 --> 0:20:23.400 imputinent that he's not gonna win, and Americans should consider. 0:20:24.080 --> 0:20:29.480 Suppose the Ukrainians win, that's a big deal. And that's 0:20:29.520 --> 0:20:33.240 former Ambassador to Poland. Daniel Freed speaking with Joe Matthew 0:20:33.359 --> 0:20:36.480 on Bloomberg Sound On. You can catch the show weeknights 0:20:36.520 --> 0:20:39.560 at five pm Wall Street Time on Bloomberg Radio, or 0:20:39.600 --> 0:20:41.480 you can download the show listen to it any time 0:20:41.520 --> 0:20:44.320 wherever you get your podcast. We have your top stories 0:20:44.320 --> 0:20:47.040 of the morning, local headlines of the check of markets. Next, first, 0:20:47.640 --> 0:20:52.000 the holiday weekend weather forecast rain Taper's office and scattered 0:20:52.040 --> 0:20:54.320 showers that will be windy today. Temperatures will drop from 0:20:54.320 --> 0:20:56.480 the fifties into the thirties. We have a wind advisory 0:20:56.480 --> 0:20:58.639 in effect of the Tri State area through ten pm, 0:20:59.080 --> 0:21:01.359 partially clearing breeze the overnight, the windside down a bit 0:21:01.480 --> 0:21:04.600 those overnight ten to fifteen Tomorrow partly the mostly sunny 0:21:04.640 --> 0:21:08.040 at times it's breezy, cold heghty twenty five, clear, breezy 0:21:08.119 --> 0:21:11.680 Christmas Eve, and sunny Christmas Day to thirty. I'm Rob 0:21:11.800 --> 0:21:14.720 Caroline with your three day forecast on Bloomberg eleven three 0:21:14.800 --> 0:21:21.119 oh broadcasting live from the Bloomberg Interactive Broker's studio in 0:21:21.240 --> 0:21:24.240 New York, Bloomberg eving for you to Washington, d C, 0:21:24.440 --> 0:21:28.119 Bloomberg nine one to Boston Bloomberg one O six one 0:21:28.240 --> 0:21:31.720 to San Francisco, Bloomberg Non sixteen to the country, Sirius 0:21:31.880 --> 0:21:35.000 XM Cho one nineteen and around the globe, the Bloomberg 0:21:35.040 --> 0:21:39.520 Business app and Bloomberg Radio dot Com. This is Bloomberg Daybreak, 0:21:45.160 --> 0:21:47.359 coming up to six thirty on Wall Street. Good morning, 0:21:47.359 --> 0:21:50.080 I'm Nathan Hagar and I'm Karen Moscow. We are just 0:21:50.160 --> 0:21:52.600 about three hours away from the open of US trading. 0:21:52.680 --> 0:21:54.840 It's time for the five things you need to notice 0:21:54.880 --> 0:21:58.400 start your day, Brought to you by Innovation Refunds. Your 0:21:58.480 --> 0:22:01.680 business may be eligible to us a payroll tax refund. 0:22:01.920 --> 0:22:05.200 The application takes around eight minutes eight minutes or less 0:22:05.440 --> 0:22:08.080 to see if you're small to medium sized business may 0:22:08.119 --> 0:22:10.600 be eligible for a refund of up to twenty six 0:22:10.680 --> 0:22:14.480 thousand dollars per employee kept on the payroll during the pandemic. 0:22:14.840 --> 0:22:18.720 Find out I'd get refunds. Dot Com First. US futures 0:22:18.720 --> 0:22:21.800 are higher after stocks snapped at three day winning streaking yesterday. 0:22:22.080 --> 0:22:24.680 Tech stocks in particular are on course for their worst 0:22:24.720 --> 0:22:27.520 December since the dot com bubble burst. Now Moura's head 0:22:27.560 --> 0:22:30.560 of process at Strategies, Matthew Rowe, believes there'll be one 0:22:30.640 --> 0:22:34.120 trade in particular that will cause investors some pain next year. 0:22:34.560 --> 0:22:36.320 I think it's growth stocks. I mean I think when 0:22:36.359 --> 0:22:39.000 you look at you know, with interest rates in zero, 0:22:39.119 --> 0:22:41.399 the present value of anything is equal to what it 0:22:41.440 --> 0:22:44.080