1 00:00:01,440 --> 00:00:04,800 Speaker 1: From the Bloomberg Interactive Burger Studios. This is is Bloomberg day 2 00:00:04,800 --> 00:00:09,360 Speaker 1: Break for Tuesday, January two. Coming up this hour. Stocks 3 00:00:09,360 --> 00:00:13,240 Speaker 1: are under pressure again after yesterday's wild comeback on Wall Street, 4 00:00:13,320 --> 00:00:15,880 Speaker 1: fed policy and focus, as the Central Bank begins it's 5 00:00:15,920 --> 00:00:18,840 Speaker 1: two day meeting. Microsoft kicks off tech earnings on the 6 00:00:18,840 --> 00:00:21,800 Speaker 1: heels of solid results from IBM, and the US puts 7 00:00:21,840 --> 00:00:24,880 Speaker 1: thousands of troops on alert in Eastern Europe. New York 8 00:00:24,880 --> 00:00:28,360 Speaker 1: Mayor Adams is reviving the controversial anti crime union amid 9 00:00:28,400 --> 00:00:31,640 Speaker 1: gun violence. Plus former New York Assembly Speaker Sheldon Silver 10 00:00:31,760 --> 00:00:34,920 Speaker 1: has died. I'm Michael Blarer. More ahead, I'm John Stas 11 00:00:34,920 --> 00:00:37,480 Speaker 1: Sharon's board for Nicks lost by two, the Rangers wanting 12 00:00:37,520 --> 00:00:39,840 Speaker 1: to shootout St. John's beet seat in Hall. And it's 13 00:00:39,840 --> 00:00:45,360 Speaker 1: the quarterfinals of the Australian Open. That's all straight ahead 14 00:00:45,440 --> 00:00:49,200 Speaker 1: on Bloomberg day Break on Bloomberg eleven, TREEO, New York, 15 00:00:49,320 --> 00:00:54,080 Speaker 1: Bloomberg N one, Washington, d C, Bloomberg one O six one, Boston, 16 00:00:54,200 --> 00:00:58,720 Speaker 1: Bloomberg nine sixties, San Francisco, Sirius x M one nineteen 17 00:00:59,080 --> 00:01:01,800 Speaker 1: and around the world Old on Bloomberg Radio dot Com 18 00:01:01,920 --> 00:01:08,639 Speaker 1: and via the Bloomberg Business Set. Good morning, I'm Nathan 19 00:01:08,680 --> 00:01:11,600 Speaker 1: Hagar and I'm Karen Moscow. US Future is pointing to 20 00:01:11,640 --> 00:01:14,080 Speaker 1: more volatility this morning. We're coming up to five o 21 00:01:14,240 --> 00:01:16,279 Speaker 1: one on Wall Street. We checked the markets every fifteen 22 00:01:16,280 --> 00:01:19,320 Speaker 1: minutes throughout the trading day. On Bloomberg. SNP Future is 23 00:01:19,360 --> 00:01:22,280 Speaker 1: down about twenty eight points. Dal Future is down seventy 24 00:01:22,280 --> 00:01:26,319 Speaker 1: five Nasdack Future is down on the decks. In Germany's 25 00:01:26,400 --> 00:01:29,600 Speaker 1: up one percent nick to twenty five in Japan fell 26 00:01:29,680 --> 00:01:33,319 Speaker 1: one point seven percent ten. Your treasury down six thirty seconds. 27 00:01:33,360 --> 00:01:35,320 Speaker 1: He had one point seven nine percent. They yield in 28 00:01:35,400 --> 00:01:38,240 Speaker 1: the two year one point two percent nine max Screwed 29 00:01:38,240 --> 00:01:40,240 Speaker 1: oil is up one point four percent, up a dollar 30 00:01:40,319 --> 00:01:42,920 Speaker 1: fifteen at eighty four dollars forty seven cents of barrel 31 00:01:43,120 --> 00:01:45,759 Speaker 1: comes Gold down to ten percent or four dollars ten 32 00:01:45,800 --> 00:01:48,600 Speaker 1: cents at eighteen forty ten announced and the euro one 33 00:01:48,640 --> 00:01:51,640 Speaker 1: point one two eight seven against the dollar. Nathan, Well, Karen, 34 00:01:51,640 --> 00:01:54,080 Speaker 1: we are seeing more pressure on US stocks this morning 35 00:01:54,080 --> 00:01:57,680 Speaker 1: after yesterday's wild turnaround on Wall Street. Let's get the 36 00:01:57,760 --> 00:02:01,040 Speaker 1: very latest live with Bloomberg's John Tuck. Good morning, John 37 00:02:01,120 --> 00:02:05,520 Speaker 1: and Nathan. Global equities wiped out almost three trillion dollars yesterday. 38 00:02:05,880 --> 00:02:09,919 Speaker 1: That's before a dramatic reversal saw US benchmarks actually ended 39 00:02:09,960 --> 00:02:13,079 Speaker 1: the green. Jeremy's Seagull at the Wharton School says these 40 00:02:13,120 --> 00:02:15,840 Speaker 1: moves shouldn't come as a surprise, you know, when the 41 00:02:15,880 --> 00:02:18,720 Speaker 1: market has gone up as much as it has since 42 00:02:19,200 --> 00:02:23,320 Speaker 1: March of two thousand. This is still not a big dip. 43 00:02:23,760 --> 00:02:26,760 Speaker 1: But I don't think the pain is over yet. Jeremy's 44 00:02:26,760 --> 00:02:30,360 Speaker 1: Siegel sees the NASAC falling twenty percent from it's November high. 45 00:02:30,800 --> 00:02:33,040 Speaker 1: Volatility is the name of the game. The VIX up 46 00:02:33,120 --> 00:02:35,959 Speaker 1: for a sixth session today. It briefly jumped to the 47 00:02:36,000 --> 00:02:40,840 Speaker 1: highest level since October before receiving The question facing investors 48 00:02:40,840 --> 00:02:43,960 Speaker 1: now is whether any slide is a buying opportunity or 49 00:02:44,040 --> 00:02:48,359 Speaker 1: pretends wider stress across more asset classes. Live in New York. 50 00:02:48,400 --> 00:02:51,359 Speaker 1: I'm John Tucker, Bloomberg Daybreak. All right, John, thank you 51 00:02:51,440 --> 00:02:54,720 Speaker 1: by us. Futures aren't the only thing falling today. Stocks 52 00:02:54,720 --> 00:02:57,520 Speaker 1: in Asia saw some heavy selling overnight. Let we get 53 00:02:57,520 --> 00:03:01,119 Speaker 1: the recount from Bloomberg's Juliette Sally in Singapore or good morning, Juliette, 54 00:03:01,200 --> 00:03:03,720 Speaker 1: Good morning parent. The m c I Asia Pacific Index 55 00:03:03,760 --> 00:03:06,560 Speaker 1: fell the most since December to reach its lowest level 56 00:03:06,639 --> 00:03:12,720 Speaker 1: since November twenty. Japan's Topics index closed down one into correction. 57 00:03:12,880 --> 00:03:16,000 Speaker 1: Territory South Korea's Cosby is nearing a bear market. It 58 00:03:16,080 --> 00:03:18,080 Speaker 1: dropped more than two and a half percent in Soul. 59 00:03:18,400 --> 00:03:22,560 Speaker 1: Australian sulks spelled to Meylo's and bondy Old surged after 60 00:03:22,639 --> 00:03:26,720 Speaker 1: stronger than expected inflation data boosted bets on rate increases 61 00:03:27,120 --> 00:03:30,240 Speaker 1: in Singapore. Juliette Sally Bloomberg day break. All right, Juliet 62 00:03:30,280 --> 00:03:33,080 Speaker 1: thanks Now. The recent sell off, along with last week's slump, 63 00:03:33,160 --> 00:03:36,400 Speaker 1: is being pinned on concerns over tighter monetary policy, and 64 00:03:36,440 --> 00:03:38,960 Speaker 1: we get more clues on that this week as the 65 00:03:38,960 --> 00:03:42,760 Speaker 1: Fed kicks off it's two day policy meeting. Bridgewater Associates 66 00:03:42,760 --> 00:03:46,120 Speaker 1: founder Ray Dalio says the Central Bank is still too slow. 67 00:03:46,600 --> 00:03:49,800 Speaker 1: The Federal Reserve has been behind the curve slower to 68 00:03:50,200 --> 00:03:54,160 Speaker 1: tighten monetary policy, and as a result, we're now starting 69 00:03:54,200 --> 00:03:57,920 Speaker 1: to see the rise in interest rates to be able 70 00:03:57,920 --> 00:04:01,960 Speaker 1: to deal with that. As that happened, all assets compete 71 00:04:02,040 --> 00:04:04,400 Speaker 1: with each other. That means all the other assets have 72 00:04:04,520 --> 00:04:07,680 Speaker 1: to adjust. We're in a process of making that kind 73 00:04:07,680 --> 00:04:11,040 Speaker 1: of adjustment. Bridgewater Associates founder Ray down Leo made the 74 00:04:11,040 --> 00:04:13,480 Speaker 1: comments in an interview with David Rubinstein on peer to 75 00:04:13,560 --> 00:04:16,320 Speaker 1: peer conversations. Catch the show coming up next week on 76 00:04:16,360 --> 00:04:19,680 Speaker 1: Bloomberg Television. Well outside of the Fed Nathan traders are 77 00:04:19,680 --> 00:04:22,040 Speaker 1: watching for tech earnage this week, and today we get 78 00:04:22,080 --> 00:04:25,880 Speaker 1: results from Microsoft here with Moore is Bloomberg's Tom Busby. 79 00:04:26,240 --> 00:04:29,880 Speaker 1: The big focus for investors the software giants Azure cloud 80 00:04:29,920 --> 00:04:33,760 Speaker 1: computing unit and web based versions of its office software. 81 00:04:33,960 --> 00:04:37,279 Speaker 1: Also of note holiday sales It's Xbox gaming console and 82 00:04:37,440 --> 00:04:41,680 Speaker 1: video games. Just last week, Microsoft announced its biggest acquisition ever, 83 00:04:41,760 --> 00:04:45,800 Speaker 1: a nearly sixty nine billion dollar deal to acquire Activision Blizzard. 84 00:04:46,040 --> 00:04:49,720 Speaker 1: Bloomberg forecasting revenue topping fifty billion dollars for the first 85 00:04:49,720 --> 00:04:52,400 Speaker 1: time ever and adjusted earnings of two dollars thirty two 86 00:04:52,440 --> 00:04:56,480 Speaker 1: cents a share for the second quarter. Tom Busby Bloomberg Daybreak. 87 00:04:56,480 --> 00:04:58,560 Speaker 1: All right, Tom, thank you know. Results are already out 88 00:04:58,560 --> 00:05:01,520 Speaker 1: from IBM. The company report revenue that beat estimates. That 89 00:05:01,600 --> 00:05:04,080 Speaker 1: has shares up nearly three percent in the pre market. 90 00:05:04,200 --> 00:05:07,640 Speaker 1: Bloomberg's Charlie Pellett has more. IBM got a boost from 91 00:05:07,720 --> 00:05:11,839 Speaker 1: strong demand in its software unit, which includes IBMS Hybrid 92 00:05:11,880 --> 00:05:16,000 Speaker 1: Cloud offering. IBM Software unit, the biggest business group, grew 93 00:05:16,120 --> 00:05:19,880 Speaker 1: eight point two percent. The consulting unit, formerly known as 94 00:05:19,920 --> 00:05:24,480 Speaker 1: Global Business Services, reported a thirteen percent increase compared with 95 00:05:24,560 --> 00:05:27,520 Speaker 1: the year prior. The results were the first since IBM 96 00:05:27,560 --> 00:05:30,480 Speaker 1: completed the spinoff of a large portion of its legacy 97 00:05:30,600 --> 00:05:35,279 Speaker 1: infrastructure services unit in November into a new company in 98 00:05:35,440 --> 00:05:38,840 Speaker 1: New York. Charlie Pellett Bloomberg Daybreak, Charlie, thank you well. 99 00:05:38,839 --> 00:05:42,080 Speaker 1: Bitcoin also in focus after yesterday's wild swing, and we 100 00:05:42,120 --> 00:05:45,479 Speaker 1: get the latest live from Bloomberg's Nita Young. Good morning Rainio, 101 00:05:45,480 --> 00:05:48,159 Speaker 1: Good morning care and Yesterday headlines were all about the 102 00:05:48,200 --> 00:05:52,000 Speaker 1: crypto crash, but bitcoin snapped a five day slide and 103 00:05:52,080 --> 00:05:55,839 Speaker 1: this morning the world's largest cryptos trading lower once again. 104 00:05:56,279 --> 00:05:59,880 Speaker 1: Analysts from Bloomberg's Markets Live blogs say don't read too 105 00:06:00,120 --> 00:06:03,640 Speaker 1: much into today's modest decline, though, while Bitcoin appears to 106 00:06:03,680 --> 00:06:06,520 Speaker 1: be trading in correlation with stocks, and this note that 107 00:06:06,640 --> 00:06:09,679 Speaker 1: turns in the digital asset came before those in stocks, 108 00:06:09,720 --> 00:06:12,600 Speaker 1: both on the way down and back up. Right now, 109 00:06:12,600 --> 00:06:16,240 Speaker 1: bitcoin is trading around thirty six thousand live in New York. 110 00:06:16,320 --> 00:06:19,560 Speaker 1: I'm Ranita Young Bloomberg Daybreak. Okay, Nita, thank you. Let's 111 00:06:19,560 --> 00:06:22,479 Speaker 1: make a hard turn now to geopolitics, where Russia and 112 00:06:22,640 --> 00:06:25,560 Speaker 1: Ukraine remained front and center. The US is putting eight 113 00:06:26,040 --> 00:06:28,919 Speaker 1: hundred troops on heightened alert as tensions swirl over a 114 00:06:28,920 --> 00:06:32,479 Speaker 1: possible Russian invasion of Ukraine. Bloomberg said, Baxter has the 115 00:06:32,560 --> 00:06:35,679 Speaker 1: very latest Pentagon spokes When John Kirby says, on both 116 00:06:35,720 --> 00:06:38,480 Speaker 1: sides of the Atlantic, the United States has taken steps 117 00:06:38,480 --> 00:06:41,280 Speaker 1: to heighten the readiness of its forces at home and 118 00:06:41,320 --> 00:06:44,480 Speaker 1: abroad so they are prepared to respond to a range 119 00:06:44,480 --> 00:06:47,599 Speaker 1: of contingencies and White House folks when Jansaki says it 120 00:06:47,640 --> 00:06:50,960 Speaker 1: could come at any time, it never ruled out the 121 00:06:51,000 --> 00:06:54,640 Speaker 1: option of providing assistant additional assistance in advance of an invasion. 122 00:06:54,880 --> 00:06:58,200 Speaker 1: President met with European leaders and says they discuss severe 123 00:06:58,279 --> 00:07:01,159 Speaker 1: sanctions as well as secure in the eastern flank of 124 00:07:01,279 --> 00:07:05,120 Speaker 1: NATO in San Francisco. I'm at Baxter, Bloomberg, Gaybreak. Thanks that, 125 00:07:05,320 --> 00:07:08,480 Speaker 1: SMP futures down down thirty two point, staff futures down ninety, 126 00:07:08,800 --> 00:07:11,320 Speaker 1: NASTAC futures leading the declines this morning. They're down a 127 00:07:11,400 --> 00:07:13,760 Speaker 1: hundred sixty points. That's a drop of one point one 128 00:07:13,800 --> 00:07:16,280 Speaker 1: per cent. Straight ahead, your latest local headlines and a 129 00:07:16,360 --> 00:07:23,880 Speaker 1: check of sports. This is Bloomberg and it's now five 130 00:07:23,880 --> 00:07:26,360 Speaker 1: oh seven on Wall Street, cloudy in thirty seven degrees 131 00:07:26,400 --> 00:07:28,560 Speaker 1: in Central Park at a tractor trailer fire on the 132 00:07:28,600 --> 00:07:31,160 Speaker 1: southbound New Jersey Turnpike as the truck lanes closed near 133 00:07:31,400 --> 00:07:34,280 Speaker 1: at thirteen A details coming up in traffic. First Michael 134 00:07:34,280 --> 00:07:36,520 Speaker 1: Barr with more on what's going on in New York 135 00:07:36,520 --> 00:07:38,920 Speaker 1: and around the world. Good morning, Michael, Good morning Nathan. 136 00:07:38,920 --> 00:07:41,800 Speaker 1: New York City Mayor Eric Adams vows to take immediate 137 00:07:41,840 --> 00:07:44,960 Speaker 1: action to end gun violence. During his first few weeks 138 00:07:44,960 --> 00:07:47,080 Speaker 1: in office, there have been a string of tragic and 139 00:07:47,160 --> 00:07:51,160 Speaker 1: high profile crimes. We need help, we need resources, we 140 00:07:51,200 --> 00:07:54,239 Speaker 1: need back up. Adams called for the state to enact 141 00:07:54,280 --> 00:07:58,240 Speaker 1: more restrictive bail provisions and announced plans to revive a 142 00:07:58,280 --> 00:08:02,400 Speaker 1: controversial anti crow unit. They were the Playing Close units, 143 00:08:02,440 --> 00:08:07,120 Speaker 1: disbanded under former Mayor de Blasio after misconduct complaints mounted. However, 144 00:08:07,200 --> 00:08:10,080 Speaker 1: Adams says the units will be monitored. But my fellow 145 00:08:10,120 --> 00:08:12,080 Speaker 1: New York is we are going to do a lot 146 00:08:12,160 --> 00:08:15,240 Speaker 1: more than pray. We're going to turn out pain into 147 00:08:15,360 --> 00:08:19,120 Speaker 1: propose we're going to unite and take action near Adams 148 00:08:19,120 --> 00:08:21,880 Speaker 1: says his goal is to bring thousands of guns off 149 00:08:21,920 --> 00:08:24,760 Speaker 1: the streets. Meanwhile, the vigil was held outside the Harlem 150 00:08:24,840 --> 00:08:28,320 Speaker 1: Police Precinct last night in honor of the two officers 151 00:08:28,360 --> 00:08:32,559 Speaker 1: shot Friday night. Rookie policeman Jason Rivera was killed. His partner, 152 00:08:32,640 --> 00:08:36,600 Speaker 1: Wilbert Mora, is fighting for his life. Mourners held prayers 153 00:08:36,640 --> 00:08:40,080 Speaker 1: outside the thirty second precinct. A New York State judge 154 00:08:40,080 --> 00:08:43,640 Speaker 1: has rule that the state's masked mandate can't be enforced. 155 00:08:43,880 --> 00:08:47,560 Speaker 1: The mandate was reinstituted by Governor hokel until February one 156 00:08:47,960 --> 00:08:51,800 Speaker 1: over concerns about the winter surge of coronavirus cases. Hocal 157 00:08:51,880 --> 00:08:55,560 Speaker 1: says or administration disagrees with the ruling and is pursuing 158 00:08:55,600 --> 00:08:59,880 Speaker 1: every option to reverse it. Nassau County Executive Bruce Blakeman 159 00:09:00,080 --> 00:09:03,760 Speaker 1: signed an executive order challenging the state mass mandate after 160 00:09:03,800 --> 00:09:06,760 Speaker 1: taking office this month. The Governor does not have power 161 00:09:07,400 --> 00:09:11,000 Speaker 1: unilaterally and the Health Commission does not have power unilaterally 162 00:09:11,559 --> 00:09:16,440 Speaker 1: to make rules that materially affect people's lives without respect 163 00:09:16,440 --> 00:09:18,920 Speaker 1: to the collateral damage that's done, especially to our to 164 00:09:19,000 --> 00:09:22,520 Speaker 1: our school Children's Nassau County Executive Blakeman called it a 165 00:09:22,520 --> 00:09:25,360 Speaker 1: great victory. Meanwhile, the state Department of Education says it 166 00:09:25,400 --> 00:09:29,160 Speaker 1: will still require masks for students in schools while the 167 00:09:29,200 --> 00:09:33,160 Speaker 1: decision is being appealed. Former New York Assembly Speaker Sheldon Silver, 168 00:09:33,360 --> 00:09:37,160 Speaker 1: who was convicted on corruption charges, has died in federal custody. 169 00:09:37,200 --> 00:09:40,440 Speaker 1: He was seventy seven. Word yet on the official cause 170 00:09:40,559 --> 00:09:43,560 Speaker 1: of death. New York Mayor Adam's choice to have his 171 00:09:43,640 --> 00:09:46,520 Speaker 1: first paycheck and Bitcoin's not looking great at least for now. 172 00:09:46,960 --> 00:09:50,000 Speaker 1: He likely lost about a thousand dollars as the cryptocurrency 173 00:09:50,000 --> 00:09:53,400 Speaker 1: market fell, Adams says, though he's a long term investor. 174 00:09:53,720 --> 00:09:56,000 Speaker 1: Global News twenty four hours a day on air and 175 00:09:56,120 --> 00:09:59,680 Speaker 1: on Bloomberg Quickdake, powered by more than twenty seven under journalists, 176 00:09:59,679 --> 00:10:03,240 Speaker 1: and that more than twenty countries. Michael barn this is Bloomberg, Nathan. 177 00:10:03,400 --> 00:10:09,959 Speaker 1: All right, Michael, thank you, coming up to five ten 178 00:10:10,000 --> 00:10:12,480 Speaker 1: on Wall Street time for the Bloomberg Sports Upday. Good morning, 179 00:10:12,520 --> 00:10:14,560 Speaker 1: John's tessh a right, Good morning, Nathan. Tough week for 180 00:10:14,600 --> 00:10:17,040 Speaker 1: the next three games and five nights against three of 181 00:10:17,040 --> 00:10:19,360 Speaker 1: the top five teams in the East. First stop much 182 00:10:19,400 --> 00:10:22,920 Speaker 1: improved Cleveland fifteen and fifty and halftime. The veteran Kevin 183 00:10:22,960 --> 00:10:24,800 Speaker 1: Love got hot in the third quarter. We made six 184 00:10:24,840 --> 00:10:27,680 Speaker 1: three pointers. The Knicks in the fourth did wipe out 185 00:10:27,679 --> 00:10:30,000 Speaker 1: a fifteen point death and said, but R J. Barrett 186 00:10:30,040 --> 00:10:31,880 Speaker 1: Mr three that would have put them ahead. They caved, 187 00:10:31,920 --> 00:10:35,720 Speaker 1: won ninety three and Love scored twenty points. Barrett had 188 00:10:35,720 --> 00:10:38,480 Speaker 1: twenty four Nicks in Miami tomorrow and then go to 189 00:10:38,520 --> 00:10:41,280 Speaker 1: Milwaukee Rangers Kings at the Guard and the game went 190 00:10:41,320 --> 00:10:43,880 Speaker 1: to a shootout. Twice a Ranger had to score to 191 00:10:44,000 --> 00:10:46,440 Speaker 1: keep it going. Both our Temmi Pinero and Alexis La 192 00:10:46,480 --> 00:10:48,559 Speaker 1: Fronge did that and then it was time for the 193 00:10:48,640 --> 00:10:56,440 Speaker 1: Rangers all star defenseman Adam Fox fuck de shoots, starts 194 00:10:58,160 --> 00:11:08,720 Speaker 1: r out, the fuck Rapeards celebrate half the tel Fox 195 00:11:09,320 --> 00:11:13,120 Speaker 1: the other half God and the Call. Rangers with the 196 00:11:13,120 --> 00:11:15,520 Speaker 1: Igor Sisterkin and Goal won three two. They are nine 197 00:11:15,559 --> 00:11:18,120 Speaker 1: and three. Since New Year's Eve, St. John's and Seaton 198 00:11:18,160 --> 00:11:20,160 Speaker 1: Hall made up a game postponed by COVID, so two 199 00:11:20,200 --> 00:11:23,079 Speaker 1: games between them in three days, The Pirates one Saturday 200 00:11:23,120 --> 00:11:25,920 Speaker 1: at the Garden, the Red Storm one at Walsh Gym. 201 00:11:26,000 --> 00:11:28,840 Speaker 1: More Seaton Hall hadn't played since nineteen eighty nine. Blowout 202 00:11:28,840 --> 00:11:31,240 Speaker 1: for the Johnnies eighty four or sixty three. A couple 203 00:11:31,280 --> 00:11:33,679 Speaker 1: of lefties play along five center at the Australian Open. 204 00:11:33,800 --> 00:11:36,560 Speaker 1: Raphael Dale won the first two sets, Dennis Shop of 205 00:11:36,600 --> 00:11:38,880 Speaker 1: all of the next two. Nadal pulled it out in five. 206 00:11:38,960 --> 00:11:42,280 Speaker 1: Also onto the semifinals goes American Madison Keys Ash Party, 207 00:11:42,760 --> 00:11:45,720 Speaker 1: just be the American Jess Pagoula six two six flow, 208 00:11:46,080 --> 00:11:49,079 Speaker 1: John Stash were Bloomberg Sports Nathan all Right, John, thank 209 00:11:49,120 --> 00:11:51,560 Speaker 1: you right now. SMP futures are down twenty eight points, 210 00:11:51,800 --> 00:11:54,719 Speaker 1: DOW futures down sixty nine, Nastact futures lower by a 211 00:11:54,800 --> 00:11:57,800 Speaker 1: hundred forty seven points, the tenure down five thirty seconds, 212 00:11:57,800 --> 00:12:00,640 Speaker 1: the yield one point seven eight percent. Matt Alia Miller 213 00:12:00,679 --> 00:12:04,440 Speaker 1: tay back with us next on these markets. This is 214 00:12:04,440 --> 00:12:09,800 Speaker 1: Bloomberg Bloomberg eleven three oh whether we'll partial clearing later 215 00:12:09,840 --> 00:12:13,040 Speaker 1: today with a high near forty Tomorrow sunny low twenties 216 00:12:13,440 --> 00:12:15,800 Speaker 1: will be in the upper twenties, partly sunny by Thursday. 217 00:12:15,840 --> 00:12:22,560 Speaker 1: Currently clouds in thirty seven degrees in Central Park markets. 218 00:12:22,640 --> 00:12:25,720 Speaker 1: Headlines and breaking news twenty four hours a day at 219 00:12:25,760 --> 00:12:29,160 Speaker 1: Bloomberg dot Com. The Bloomberg Business at and at Bloomberg 220 00:12:29,240 --> 00:12:38,319 Speaker 1: quick take, this is a Bloomberg business lash and I'm 221 00:12:38,400 --> 00:12:41,640 Speaker 1: Karen Moscow. US DOT index futures are lower this morning 222 00:12:41,679 --> 00:12:45,920 Speaker 1: as investor's way concerns about tightening monetary policy and geopolitical tension. 223 00:12:46,000 --> 00:12:49,960 Speaker 1: European equities rebounding from their worst drops in Stune, and 224 00:12:50,000 --> 00:12:52,280 Speaker 1: we check the markets every fifteen minutes throughout the trading 225 00:12:52,360 --> 00:12:55,319 Speaker 1: day on Bloomberg. Right now, SMP futures down twenty three 226 00:12:55,360 --> 00:12:58,280 Speaker 1: points down, futures down twenty six NASDACK futures down on 227 00:12:59,400 --> 00:13:02,360 Speaker 1: the decks. Germany's at one point one percent, pen your 228 00:13:02,400 --> 00:13:04,800 Speaker 1: treasury down four thirty seconds. He had one point seven 229 00:13:04,800 --> 00:13:07,520 Speaker 1: eight percent yield on the two year one point one percent. 230 00:13:07,920 --> 00:13:09,880 Speaker 1: Nine ex scred oils up one point one per cent 231 00:13:09,960 --> 00:13:12,040 Speaker 1: or ninety five cents at eighty four dollars twenty six 232 00:13:12,080 --> 00:13:14,520 Speaker 1: cents of barrel comic schooled down two tenth per cent 233 00:13:14,600 --> 00:13:17,280 Speaker 1: or three dollars forty cents. In eighteen forty eight, announced 234 00:13:17,600 --> 00:13:19,960 Speaker 1: the euro one point one to a nine against the dollar. 235 00:13:20,000 --> 00:13:22,400 Speaker 1: British found one point three four seven eight the n 236 00:13:22,440 --> 00:13:25,720 Speaker 1: one fourteen point oh seven bitcoin this morning at thirty 237 00:13:25,760 --> 00:13:29,200 Speaker 1: six thousand six hundred dollars, sources telling Bloomberg in video 238 00:13:29,360 --> 00:13:32,320 Speaker 1: quietly preparing to abandon his purchase of arm from soft 239 00:13:32,400 --> 00:13:34,760 Speaker 1: Bank Group after making little to no progress in winning 240 00:13:34,760 --> 00:13:37,760 Speaker 1: approval for the forty billion dollar ship deal, and Video 241 00:13:37,840 --> 00:13:40,319 Speaker 1: shares lower this morning, down two point six percent in 242 00:13:40,400 --> 00:13:43,559 Speaker 1: early trading. That's a Bloomberg business flash. Now here's Michael 243 00:13:43,600 --> 00:13:46,079 Speaker 1: Barr with Moore on what's going on around the world. Michael, 244 00:13:46,080 --> 00:13:49,480 Speaker 1: good morning, Good morning, Karen. The Pentagon says Defense Secretary 245 00:13:49,600 --> 00:13:53,120 Speaker 1: Lloyd Austin has ordered about eighty five U S troops 246 00:13:53,200 --> 00:13:57,400 Speaker 1: on heightened alert, preparing for possible deployment to Europe if needed, 247 00:13:57,480 --> 00:14:00,920 Speaker 1: to reassure NATO allies and the phase of Russian aggression 248 00:14:01,000 --> 00:14:03,840 Speaker 1: on the border of Ukraine. Russia says though it has 249 00:14:03,920 --> 00:14:07,280 Speaker 1: no plans to invade Ukraine. North Korea appears to have 250 00:14:07,400 --> 00:14:10,600 Speaker 1: fired two cruise missiles this morning towards waters off its 251 00:14:10,679 --> 00:14:14,400 Speaker 1: east coast, according to a South Korean military official. The 252 00:14:14,600 --> 00:14:17,240 Speaker 1: North has ramped up a barrage of tests this month 253 00:14:17,679 --> 00:14:21,040 Speaker 1: that have rattled regional security. In the NBA, the next 254 00:14:21,160 --> 00:14:23,520 Speaker 1: lost in the NHL, the Rangers won, the Bruins and 255 00:14:23,600 --> 00:14:26,600 Speaker 1: Capitals lost. Global News twenty four hours a day on 256 00:14:26,880 --> 00:14:30,240 Speaker 1: air and on Bloomberg Quittake, powered by more than twenty 257 00:14:30,320 --> 00:14:32,040 Speaker 1: seven un Your journalist and analysts are more than a 258 00:14:32,120 --> 00:14:35,840 Speaker 1: hundred twenty countries. Him Michael Barr. This is Bloomberg. Nathanhi, Michael. Thanks. 259 00:14:35,920 --> 00:14:38,320 Speaker 1: It's five nineteen on Wall Street Life from the Bloomberg 260 00:14:38,400 --> 00:14:41,800 Speaker 1: Interactive Broker Studios. This is Bloomberg Daybreak. Let's get right 261 00:14:41,840 --> 00:14:44,360 Speaker 1: to the market action this morning. Matt Maylee joins US 262 00:14:44,440 --> 00:14:47,080 Speaker 1: chief market strategist at Miller tay Back. I guess this 263 00:14:47,240 --> 00:14:49,240 Speaker 1: is a fun market if you like roller coasters. Matt, 264 00:14:49,400 --> 00:14:52,680 Speaker 1: where did things go from here? Well? Yeah, it's truly 265 00:14:52,720 --> 00:14:54,800 Speaker 1: been unbelievable. I mean yesterday you don't you don't see 266 00:14:54,880 --> 00:14:56,720 Speaker 1: many moves like that on an inter day basis, but 267 00:14:57,120 --> 00:14:59,200 Speaker 1: you know, we did see signs at least some sort 268 00:14:59,240 --> 00:15:03,640 Speaker 1: of it's a mini capitulation, but you know, huge volume, 269 00:15:04,040 --> 00:15:06,720 Speaker 1: the breadth, you know, advanced versus the climbers were incredibly 270 00:15:06,760 --> 00:15:09,880 Speaker 1: negative at midday yesterday, and uh, it kind of showed 271 00:15:09,920 --> 00:15:12,240 Speaker 1: that the things we're getting a little bit washed out, 272 00:15:12,240 --> 00:15:14,320 Speaker 1: at least on a near term basis. I see the 273 00:15:14,360 --> 00:15:16,480 Speaker 1: futures are are trading lower this morning. But there are 274 00:15:16,720 --> 00:15:19,920 Speaker 1: less than half of of half as bad as they were, 275 00:15:20,200 --> 00:15:23,240 Speaker 1: you know, say an hour ago. Um, I think yesterday's 276 00:15:23,320 --> 00:15:25,720 Speaker 1: kind of of of action probably tells us that, well, 277 00:15:25,840 --> 00:15:28,520 Speaker 1: the yesterday's bounce will last a little while. I think 278 00:15:28,560 --> 00:15:32,000 Speaker 1: we'll be okay. But the question is that, you know, 279 00:15:32,280 --> 00:15:34,360 Speaker 1: we have to look at this big change in in 280 00:15:35,120 --> 00:15:37,480 Speaker 1: a policy from from the Federal Reserve, and of course 281 00:15:37,520 --> 00:15:40,000 Speaker 1: some of the geopolitical issues. Um. You know, I think 282 00:15:40,080 --> 00:15:42,240 Speaker 1: I still think that we've moved now from a situation 283 00:15:42,280 --> 00:15:44,960 Speaker 1: where people need to sell the bounces rather than than 284 00:15:45,040 --> 00:15:47,160 Speaker 1: buy the dips. Well, what are the signs you're looking 285 00:15:47,200 --> 00:15:51,880 Speaker 1: at that show you we could be sepulation here. Well, again, 286 00:15:51,920 --> 00:15:53,880 Speaker 1: it's this whole thing when when when you have that 287 00:15:54,040 --> 00:15:57,160 Speaker 1: that that big volume spike. Uh. You know. The thing 288 00:15:57,280 --> 00:16:00,200 Speaker 1: is that that when markets see that kind of capitulation days, 289 00:16:00,200 --> 00:16:02,240 Speaker 1: it's not just people they think, oh g somebody panicked 290 00:16:02,320 --> 00:16:05,480 Speaker 1: or people start to panic, and that's certainly plays a partner, 291 00:16:05,800 --> 00:16:07,840 Speaker 1: but it's also this whole thing was forced selling. In 292 00:16:07,920 --> 00:16:09,920 Speaker 1: other words, you can margin calls in such I mean 293 00:16:10,960 --> 00:16:13,120 Speaker 1: each of the last three days of the last three 294 00:16:13,200 --> 00:16:15,760 Speaker 1: days of last week, the market closed right on it's 295 00:16:15,800 --> 00:16:17,440 Speaker 1: lows and and that kind of told we probably get 296 00:16:17,480 --> 00:16:19,720 Speaker 1: some margin calls late in the day and people were 297 00:16:19,840 --> 00:16:22,560 Speaker 1: forced to sell. I mean, remember we had this whole 298 00:16:22,600 --> 00:16:26,520 Speaker 1: thing with the FED allowing or providing emergency level of 299 00:16:26,640 --> 00:16:30,280 Speaker 1: liquidity long after the emergency level of the in the 300 00:16:30,360 --> 00:16:33,600 Speaker 1: economy had passed. It gave people all sorts of confidence 301 00:16:33,640 --> 00:16:35,960 Speaker 1: to add leverage to their portfolios. Now they're having to 302 00:16:36,000 --> 00:16:38,520 Speaker 1: online some of that leverage. And when when the market 303 00:16:38,560 --> 00:16:40,640 Speaker 1: gets washed out like that, it's usually caused by those 304 00:16:40,680 --> 00:16:43,360 Speaker 1: who are forced selling, and when they're done, uh, there's 305 00:16:43,360 --> 00:16:44,840 Speaker 1: nobody left to sell. And that's why you get these 306 00:16:44,920 --> 00:16:47,080 Speaker 1: big bounce backs like we saw yesterday. But this kind 307 00:16:47,120 --> 00:16:50,000 Speaker 1: of volatility, Matt, do you expect that the Fed will 308 00:16:50,080 --> 00:16:53,360 Speaker 1: be forced to respond in some way? Are you expecting 309 00:16:53,400 --> 00:16:56,160 Speaker 1: that we'll get some kind of signaling from the Fed 310 00:16:56,240 --> 00:16:59,480 Speaker 1: that they're watching this kind of market action and could 311 00:17:00,120 --> 00:17:04,360 Speaker 1: move on policy based on what's happening in the market. Well, 312 00:17:04,400 --> 00:17:05,840 Speaker 1: the one of the one of the things they have 313 00:17:06,000 --> 00:17:08,400 Speaker 1: I think signal to us is that that the FED 314 00:17:08,520 --> 00:17:10,200 Speaker 1: put as they used to say, is further out of 315 00:17:10,240 --> 00:17:11,960 Speaker 1: the money than it used to be, or you say, 316 00:17:12,000 --> 00:17:13,879 Speaker 1: the safety net is now lower than one that it 317 00:17:14,000 --> 00:17:15,879 Speaker 1: used to be. And that's because you know we we 318 00:17:16,040 --> 00:17:18,320 Speaker 1: don't we no longer have. You know, the banking system 319 00:17:18,400 --> 00:17:20,880 Speaker 1: is much more stronger. I mean they couldn't put every 320 00:17:20,920 --> 00:17:23,440 Speaker 1: time they pulled back on que ten years ago, the 321 00:17:23,520 --> 00:17:26,160 Speaker 1: market fell back over because the system was still very fragile. 322 00:17:26,400 --> 00:17:28,680 Speaker 1: Now it's much more firm. So I think, yes, that 323 00:17:28,840 --> 00:17:30,800 Speaker 1: that will play a part. But I think the history 324 00:17:30,840 --> 00:17:33,480 Speaker 1: has shown its people forget back. In two thousand and eighteen, 325 00:17:33,720 --> 00:17:35,600 Speaker 1: they think, oh Jesus, stock market that went down, so 326 00:17:35,720 --> 00:17:38,760 Speaker 1: they completely shift their shifted their policy. That's not the case. 327 00:17:39,040 --> 00:17:41,399 Speaker 1: They lowered. I mean the market was down more than 328 00:17:41,480 --> 00:17:44,440 Speaker 1: it is right now, and they continue to raise interest 329 00:17:44,520 --> 00:17:47,080 Speaker 1: rates in December of two thousand eighteen. It wasn't until 330 00:17:47,119 --> 00:17:49,919 Speaker 1: we saw stresses in the credit markets, and right now 331 00:17:50,000 --> 00:17:53,359 Speaker 1: we're not really seeing that. And so my concern is 332 00:17:53,400 --> 00:17:55,440 Speaker 1: that they let the market go a little bit lower, 333 00:17:55,560 --> 00:17:57,879 Speaker 1: which will be fine for them because it gets some 334 00:17:58,040 --> 00:18:00,399 Speaker 1: of the fraud out of the marketplace. And that's why 335 00:18:00,440 --> 00:18:04,000 Speaker 1: I think it's such essential for investors to embrace this move. 336 00:18:04,080 --> 00:18:08,480 Speaker 1: I mean, corrections are normal, healthy, their fearfulness very scary 337 00:18:08,520 --> 00:18:10,600 Speaker 1: at times. But if you're a one who can embrace 338 00:18:11,119 --> 00:18:12,840 Speaker 1: this move, you'll be the one who'll be able to 339 00:18:12,880 --> 00:18:14,840 Speaker 1: take advantage of it when the bottom comes, rather than 340 00:18:14,920 --> 00:18:17,520 Speaker 1: be the one who's panicking and selling right at the bottom. Okay, So, 341 00:18:17,640 --> 00:18:20,119 Speaker 1: in the context of embracing this move, how do you 342 00:18:20,480 --> 00:18:25,600 Speaker 1: suggest investors look for opportunity and volatility like this. Well, 343 00:18:25,600 --> 00:18:27,600 Speaker 1: I think we need to sell a little bit, you know, 344 00:18:27,720 --> 00:18:29,800 Speaker 1: raise a little bit of cash on bounces. Uh. And 345 00:18:29,840 --> 00:18:33,440 Speaker 1: that's a mean singlees go to you know, cash or anything. 346 00:18:33,680 --> 00:18:35,119 Speaker 1: But if you have a little bit raised, you know, 347 00:18:35,280 --> 00:18:37,160 Speaker 1: I mean I've been saying raise some cash really since 348 00:18:37,440 --> 00:18:40,080 Speaker 1: since Thanksgiving. Uh, So hopefully people have already done that. 349 00:18:40,160 --> 00:18:41,600 Speaker 1: But if they haven't, just raised a little bit of 350 00:18:41,680 --> 00:18:44,440 Speaker 1: their that'll that will help you. Number one. But number two, 351 00:18:45,000 --> 00:18:47,800 Speaker 1: look for the stocks right now when you do buy 352 00:18:47,880 --> 00:18:49,600 Speaker 1: by it, stocks that will pay you to weight your 353 00:18:49,640 --> 00:18:52,520 Speaker 1: good dividend paying stocks. And and then also look at 354 00:18:52,560 --> 00:18:54,280 Speaker 1: the groups that are going to do well in inflationary 355 00:18:54,320 --> 00:18:59,800 Speaker 1: press and infreationary situation. Hard assets like energy stocks, um, 356 00:19:00,160 --> 00:19:02,600 Speaker 1: commodity based companies, things like that. Those are the ones 357 00:19:02,640 --> 00:19:04,320 Speaker 1: are gonna help you, uh a kind of well of 358 00:19:04,359 --> 00:19:06,760 Speaker 1: the storm. And then and you know, and give you 359 00:19:06,840 --> 00:19:09,600 Speaker 1: the confidence to buy when the when the markets at 360 00:19:09,640 --> 00:19:11,520 Speaker 1: the bottom, Like I said, most people are selling at 361 00:19:11,560 --> 00:19:12,879 Speaker 1: the bottom, and you want you want to be a 362 00:19:12,960 --> 00:19:15,440 Speaker 1: ba a blue void that and we're seeing yet more 363 00:19:15,440 --> 00:19:18,159 Speaker 1: of that's selling, at least in the futures markets this morning. 364 00:19:18,240 --> 00:19:20,480 Speaker 1: Matt as always good to have you on with us. 365 00:19:20,560 --> 00:19:23,800 Speaker 1: Thanks so much, Matt Mayley's chief market strategist at Miller 366 00:19:23,880 --> 00:19:26,320 Speaker 1: tay Back. And as we look at markets right now, 367 00:19:26,400 --> 00:19:29,520 Speaker 1: as we say, futures are moving lower after the wild 368 00:19:29,560 --> 00:19:32,800 Speaker 1: turnaround yesterday. We have SMP futures now down twenty four point, 369 00:19:32,840 --> 00:19:36,480 Speaker 1: STAFF futures down thirty six, NASTAC futures leading the declines, 370 00:19:36,480 --> 00:19:38,440 Speaker 1: down a hundred forty eight points down. That's a drop 371 00:19:38,480 --> 00:19:42,000 Speaker 1: of about one percent. Still seeing a bid on European stocks. 372 00:19:42,040 --> 00:19:44,680 Speaker 1: The decks is up one percent in Germany and the 373 00:19:44,680 --> 00:19:47,240 Speaker 1: CATC and Paris up one and a half percent. Send 374 00:19:47,280 --> 00:19:49,960 Speaker 1: your treasury down four thirty seconds, the yield one point 375 00:19:50,440 --> 00:19:52,360 Speaker 1: percent right now, the yield on the two years one 376 00:19:52,400 --> 00:19:56,439 Speaker 1: point zero one just ahead. More on these wild market gyrations, 377 00:19:56,480 --> 00:19:58,960 Speaker 1: plus the latest on the standoff over Ukraine. As we 378 00:19:59,080 --> 00:20:01,920 Speaker 1: check your top store eas of the morning on this Tuesday, 379 00:20:02,440 --> 00:20:09,520 Speaker 1: this is Bloomberg Bloomberg eleven three oh weather mostly cloudy 380 00:20:09,520 --> 00:20:12,439 Speaker 1: early but partial clearing later today with hin your forty, sunny, 381 00:20:12,520 --> 00:20:15,280 Speaker 1: breezy cold tomorrow, low twenties will be in the upper 382 00:20:15,320 --> 00:20:18,119 Speaker 1: twenties by Thursday. Right now, it's cloudy thirty seven degrees 383 00:20:18,160 --> 00:20:25,399 Speaker 1: in Central Park. Broadcasting live from the Bloomberg Interactive Broker 384 00:20:25,520 --> 00:20:28,920 Speaker 1: Studio in New York. Bloomberg E Looving free to Washington, 385 00:20:29,000 --> 00:20:33,080 Speaker 1: d C. Bloomberg to Boston, Bloomberg one oh six one 386 00:20:33,200 --> 00:20:37,040 Speaker 1: to San Francisco, Bloomberg sixty to the Country, Sirius xm 387 00:20:37,160 --> 00:20:39,960 Speaker 1: Chado one nine Tea and around the globe the Bloomberg 388 00:20:40,000 --> 00:20:44,480 Speaker 1: Business app and Bloomberg Radio dot Com. This is Bloomberg Daybreak. 389 00:20:50,359 --> 00:20:52,600 Speaker 1: It's five thirty on Wall Street. Good morning. I'm Nathan 390 00:20:52,640 --> 00:20:55,720 Speaker 1: Hagar and I'm Karen Moscow. We are just about four 391 00:20:55,840 --> 00:20:58,240 Speaker 1: hours away from the open of US trading. Let's get 392 00:20:58,280 --> 00:20:59,520 Speaker 1: you up to date on the news. You need to 393 00:20:59,600 --> 00:21:02,120 Speaker 1: know what the shower. We're seeing more pressure on us 394 00:21:02,200 --> 00:21:05,879 Speaker 1: songs this morning after yesterday's wild turnaround on Wall Street. 395 00:21:06,400 --> 00:21:10,119 Speaker 1: SMP futures are lower down twenty seven points, and we 396 00:21:10,160 --> 00:21:12,760 Speaker 1: get the details on these moves live with the Bloomberg's 397 00:21:12,840 --> 00:21:16,080 Speaker 1: John Tucker, John Karen. The SMP five hunded fell about 398 00:21:16,160 --> 00:21:21,280 Speaker 1: four percent yesterday before ending slightly higher. Volatility is climbing. 399 00:21:21,359 --> 00:21:24,200 Speaker 1: The VIX closed just shy of thirty. That's compared to 400 00:21:24,280 --> 00:21:28,280 Speaker 1: a lifetime average just shy of twenty, according to calculations 401 00:21:28,359 --> 00:21:32,320 Speaker 1: by Bespoke Investment Group. Monday was the sixth time since 402 00:21:33,600 --> 00:21:36,760 Speaker 1: that the nastac are raced of four percent plus inter 403 00:21:36,880 --> 00:21:40,880 Speaker 1: day decline to close higher on the day. Strategist tracked 404 00:21:40,920 --> 00:21:43,840 Speaker 1: by Bloomberger still bullish with their year end the average 405 00:21:43,920 --> 00:21:47,120 Speaker 1: forecast for the SMP five hundred close to five thousand. 406 00:21:47,520 --> 00:21:50,720 Speaker 1: Live in New York, I'm John Tucker, Bloomberg Daybreak. All right, John, 407 00:21:50,800 --> 00:21:53,800 Speaker 1: thank you, and bitcoins and focus as well. After yesterday's 408 00:21:53,840 --> 00:21:56,800 Speaker 1: wild swings, it's trading lower again this morning, and we 409 00:21:56,880 --> 00:21:59,560 Speaker 1: get the latest live from Bloomberg's goned A Young, Rnita 410 00:21:59,680 --> 00:22:02,440 Speaker 1: good More, n Nathan. Yesterday, headlines were all about the 411 00:22:02,560 --> 00:22:06,280 Speaker 1: crypto crash, but bitcoin snapped a five days slide then 412 00:22:06,680 --> 00:22:10,000 Speaker 1: an Analysts from Bloomberg's Markets Live blogs say don't read 413 00:22:10,080 --> 00:22:13,520 Speaker 1: too much into today's modest decline. While Bitcoin appears to 414 00:22:13,560 --> 00:22:16,760 Speaker 1: be trading in correlation with stocks. Analysts note that turns 415 00:22:16,800 --> 00:22:19,360 Speaker 1: in the digital asset came before those in stocks, both 416 00:22:19,440 --> 00:22:23,000 Speaker 1: on the way up and back down, back down and 417 00:22:23,040 --> 00:22:25,280 Speaker 1: then back up. I should say right now bitcoin is 418 00:22:25,320 --> 00:22:28,280 Speaker 1: trading around thirty six or thirty seven thousand, Live in 419 00:22:28,359 --> 00:22:31,359 Speaker 1: New York. I'm Ranita Young Bloomberg daybreak. All right, Granita, 420 00:22:31,440 --> 00:22:33,600 Speaker 1: thank you about the slump and risk assets is being 421 00:22:33,640 --> 00:22:36,239 Speaker 1: blamed on forecast for FED policy and we get more 422 00:22:36,320 --> 00:22:38,359 Speaker 1: clues on that this week. The Fed kicks off at 423 00:22:38,400 --> 00:22:41,320 Speaker 1: two day policy meeting this morning. Is J. Powell and 424 00:22:41,400 --> 00:22:45,200 Speaker 1: company wrestle with how to fight inflation without stalling labor 425 00:22:45,280 --> 00:22:47,960 Speaker 1: market gains. Earnings are front and center as well. Karen 426 00:22:48,000 --> 00:22:50,960 Speaker 1: Microsoft reports results this afternoon on the heels of upbeat 427 00:22:51,040 --> 00:22:54,359 Speaker 1: numbers from IBM. That company reported its best sales growth 428 00:22:54,400 --> 00:22:56,920 Speaker 1: in ten years, and IBM shares are up three percent 429 00:22:57,040 --> 00:22:59,720 Speaker 1: in early trading. And taking a turn to geo politics 430 00:22:59,760 --> 00:23:02,359 Speaker 1: down Nathan, it's all about Russia and Ukraine. The Biden 431 00:23:02,400 --> 00:23:05,359 Speaker 1: administration has put as many as eighty five hundred troops 432 00:23:05,440 --> 00:23:09,200 Speaker 1: on alert for deployment in Eastern Europe. Former Obama campaign 433 00:23:09,240 --> 00:23:12,879 Speaker 1: foreign policy advisor David de Fury says Vladimir Putin is 434 00:23:12,920 --> 00:23:15,960 Speaker 1: a threat. Until the last six months, people didn't really 435 00:23:16,080 --> 00:23:19,720 Speaker 1: recognize the threat that Putin posed to Ukraine and to 436 00:23:19,840 --> 00:23:22,960 Speaker 1: our other allies in Eastern Europe. And I think people 437 00:23:23,040 --> 00:23:25,800 Speaker 1: in both parties are waking up to that now. And 438 00:23:25,960 --> 00:23:29,480 Speaker 1: former Obama campaign foreign policy advisor David Fury spoke with 439 00:23:29,520 --> 00:23:33,000 Speaker 1: Our Washington corresponded Joe Matthew on Bloomberg sound on, and 440 00:23:33,240 --> 00:23:39,560 Speaker 1: this is Bloomberg. Thanks hearing. It's five thirty three on 441 00:23:39,600 --> 00:23:42,080 Speaker 1: Wall Street, cloudy, thirty seven degrees in Central Park. You 442 00:23:42,119 --> 00:23:44,600 Speaker 1: still had a tractor trailer fire on southbound New Jersey 443 00:23:44,680 --> 00:23:48,679 Speaker 1: Turnpike and exit thirteen. A details in traffic first Michael 444 00:23:48,680 --> 00:23:50,399 Speaker 1: Barr with what else is going on in New York 445 00:23:50,440 --> 00:23:52,440 Speaker 1: and around the world. Michael, thank you very much, Nathan. 446 00:23:52,480 --> 00:23:55,080 Speaker 1: New York Mayor Eric Adams says the recent violence is 447 00:23:55,160 --> 00:23:58,240 Speaker 1: reminiscent of the city's dark days in the nineties, seventies 448 00:23:58,280 --> 00:24:02,000 Speaker 1: and eighties. New York is as if a sea of 449 00:24:02,320 --> 00:24:06,720 Speaker 1: violence is engulf in our city. Adams has announced the 450 00:24:06,760 --> 00:24:09,880 Speaker 1: city will step up efforts to seize illegal guns. Adams 451 00:24:09,960 --> 00:24:12,520 Speaker 1: and his blueprint to end gun violence is bringing back 452 00:24:12,600 --> 00:24:15,680 Speaker 1: playing closed units where the violence has been the highest. 453 00:24:16,119 --> 00:24:20,040 Speaker 1: The units were disbanded onto the previous administration, but Adams 454 00:24:20,160 --> 00:24:23,240 Speaker 1: is promising that they will be monitored. Gun violence is 455 00:24:23,280 --> 00:24:27,840 Speaker 1: a public health crisis. There's no time to wait. We 456 00:24:28,000 --> 00:24:31,040 Speaker 1: must act, Mayor Adams as A vigil was held in 457 00:24:31,080 --> 00:24:33,080 Speaker 1: front of the thirty second Priest sing last night for 458 00:24:33,119 --> 00:24:36,000 Speaker 1: the two officers shot in Harlem last Friday. One officer, 459 00:24:36,160 --> 00:24:39,480 Speaker 1: Jason Rivera died. His partner, Wilbert Mora, is fighting for 460 00:24:39,640 --> 00:24:42,800 Speaker 1: his life. The gunmanless Sean McNeil died of his injuries 461 00:24:42,880 --> 00:24:46,439 Speaker 1: yesterday in a Harlem hospital. A New York State Supreme 462 00:24:46,480 --> 00:24:51,280 Speaker 1: Court judge ruled Governor Cathy Hokel's indoor mask mandate is unconstitutional. 463 00:24:51,640 --> 00:24:55,159 Speaker 1: The mandate was set to expire February one. Nassau County 464 00:24:55,240 --> 00:24:59,359 Speaker 1: Executive Bruce Blakeman signed an executive order challenging the mandate 465 00:24:59,400 --> 00:25:02,960 Speaker 1: after king office this month. It's a great victory for 466 00:25:03,119 --> 00:25:05,080 Speaker 1: the people of the State of New York. It's a 467 00:25:05,160 --> 00:25:07,880 Speaker 1: great victory for our school children, and it's a great 468 00:25:07,960 --> 00:25:10,920 Speaker 1: victory for both the Constitution of the United States and 469 00:25:11,040 --> 00:25:13,560 Speaker 1: the constitution of the State of New York. Nassau County 470 00:25:13,600 --> 00:25:16,600 Speaker 1: Executive blake Men as the state Department of Education says 471 00:25:16,640 --> 00:25:20,000 Speaker 1: it will still require masks for students in schools while 472 00:25:20,080 --> 00:25:23,359 Speaker 1: the decision is being appealed. Former New York Assembly Speaker 473 00:25:23,440 --> 00:25:26,360 Speaker 1: Sheldon Silver, one of the most powerful figures in state 474 00:25:26,520 --> 00:25:30,199 Speaker 1: government for two decades before his conviction on corruption charges, 475 00:25:30,480 --> 00:25:33,720 Speaker 1: has died in federal custody. Silver had been serving his 476 00:25:33,800 --> 00:25:37,080 Speaker 1: sentence at the Federal Medical Center in Massachusetts. The Manhattan 477 00:25:37,119 --> 00:25:39,680 Speaker 1: Democrat who told the judge he prayed he would not 478 00:25:39,960 --> 00:25:43,000 Speaker 1: die in prison, was serving a more than six years sentence. 479 00:25:43,280 --> 00:25:46,880 Speaker 1: Sheldon Silver was seventy seven Global News twenty four hours 480 00:25:46,960 --> 00:25:50,080 Speaker 1: a day on air and on Bloomberg Quicktake, powered by 481 00:25:50,160 --> 00:25:52,840 Speaker 1: more than twenty seven hundred journalist and analysts more than 482 00:25:52,880 --> 00:25:56,359 Speaker 1: one hundred twenty countries. Michael bar this is Bloomberg. Nathan 483 00:25:56,440 --> 00:26:03,639 Speaker 1: all right, Michael, thanks on Wall Street time for the 484 00:26:03,680 --> 00:26:06,639 Speaker 1: Bloomberg Sports Something with John Stennshower. Thanks Nathan. Nice. Come 485 00:26:06,680 --> 00:26:09,000 Speaker 1: back by the Knicks in Cleveland. They chilled by fifteen 486 00:26:09,040 --> 00:26:10,960 Speaker 1: and the fourth quarter rally to tie the game, but 487 00:26:11,080 --> 00:26:14,280 Speaker 1: the Calves won ninety five ninety three. Damage done in 488 00:26:14,320 --> 00:26:16,680 Speaker 1: the third when Kevin Love kept hitting three pointers. He 489 00:26:16,720 --> 00:26:19,199 Speaker 1: scored twenty points with six threes. R J. Barrett led 490 00:26:19,240 --> 00:26:21,800 Speaker 1: the Knicks with twenty four. Another win for the Rangers 491 00:26:21,880 --> 00:26:24,040 Speaker 1: at the Guard, another goal for Chris Crider. It came 492 00:26:24,080 --> 00:26:26,840 Speaker 1: with two seconds left in the first period. Crider nine 493 00:26:26,960 --> 00:26:29,560 Speaker 1: goals in his last six games, leads the league with thirty. 494 00:26:29,600 --> 00:26:31,800 Speaker 1: The King's led two to one, Rangers tied it with 495 00:26:31,960 --> 00:26:33,840 Speaker 1: six minutes left and they won three two and a 496 00:26:33,920 --> 00:26:37,200 Speaker 1: shootout that lasted six rounds. Adam Pops the game winner. 497 00:26:37,520 --> 00:26:39,800 Speaker 1: Nice rebound for St. John's. Two days after a home 498 00:26:39,880 --> 00:26:42,120 Speaker 1: lost to Seaton Hall, Red Storm beat the fire It's 499 00:26:42,160 --> 00:26:46,000 Speaker 1: eighty four sixty three, Aaron Wheeler seventeen points, ten rebounds 500 00:26:46,040 --> 00:26:48,200 Speaker 1: due to COVID. The game was played on campus in 501 00:26:48,320 --> 00:26:51,600 Speaker 1: South Orange, where Seaton Hall hadn't played in nineteen eighty nine. 502 00:26:51,920 --> 00:26:54,600 Speaker 1: Raphael of d all into the semifinals the Australian Open. 503 00:26:54,640 --> 00:26:56,919 Speaker 1: He won a five center with the Canadian Dennis Shopper, 504 00:26:57,000 --> 00:26:59,160 Speaker 1: all of ash Party, trying to be the first Native 505 00:26:59,200 --> 00:27:02,560 Speaker 1: auste to win the women's singles since nineteen seventy seven, 506 00:27:02,600 --> 00:27:05,760 Speaker 1: she's been dominant. She took out American Jessica Goola six 507 00:27:05,840 --> 00:27:09,240 Speaker 1: two six Love Madison Keyes won her quarterfinal match the 508 00:27:09,280 --> 00:27:11,879 Speaker 1: baseball players made a couple of concessions as the two 509 00:27:11,920 --> 00:27:13,840 Speaker 1: sides met to try to end the lockout. New Mets 510 00:27:13,880 --> 00:27:17,040 Speaker 1: manager Buck show Walter wondering when or if there will 511 00:27:17,080 --> 00:27:22,040 Speaker 1: be spring training. I'm hoping for the best. I think 512 00:27:22,119 --> 00:27:25,200 Speaker 1: the players are too, and uh, I'm gonna get into 513 00:27:25,240 --> 00:27:29,280 Speaker 1: handicapped and the lockout. But you know, we're trying to 514 00:27:29,359 --> 00:27:32,320 Speaker 1: prepare for all scenarios. No one scenarios no one that 515 00:27:32,880 --> 00:27:36,399 Speaker 1: it's probably completely to be completely such as impossible, but 516 00:27:36,480 --> 00:27:43,119 Speaker 1: we're gonna try and find out tonight. Who okay. It 517 00:27:43,240 --> 00:27:45,080 Speaker 1: is five thirty seven on Wall Street time for the 518 00:27:45,119 --> 00:27:48,080 Speaker 1: Tri State Business Report. Now Here is Sploomberg's ed Corey. 519 00:27:48,680 --> 00:27:51,800 Speaker 1: New York City hotels were hit hard by the pandemic, 520 00:27:51,880 --> 00:27:55,360 Speaker 1: but new properties continue to open. Fifty three hotels. You're 521 00:27:55,359 --> 00:27:57,840 Speaker 1: supposed to add about nine thousand rooms to the market 522 00:27:57,880 --> 00:28:01,280 Speaker 1: in two thousand and twenty two, according to Lodging Econometrics. 523 00:28:01,640 --> 00:28:03,960 Speaker 1: Dal Jones reports, the cities on track to have a 524 00:28:04,000 --> 00:28:08,600 Speaker 1: nation's second highest growth rate. The Metropolitan Transportation Authority says 525 00:28:08,680 --> 00:28:12,360 Speaker 1: the subway system is running again, ending cutbacks required when 526 00:28:12,400 --> 00:28:16,840 Speaker 1: the omicron surge caused major staffing shortages. The MTA says. 527 00:28:16,920 --> 00:28:20,240 Speaker 1: The W line, which connects Manhattan and Queens and was 528 00:28:20,359 --> 00:28:24,280 Speaker 1: the last still closed, began operating again Monday morning. New 529 00:28:24,400 --> 00:28:26,800 Speaker 1: Jersey is the worst state to retire in, according to 530 00:28:26,880 --> 00:28:29,800 Speaker 1: a new list. New Jersey and New York with to 531 00:28:30,119 --> 00:28:32,520 Speaker 1: least affordable U S states to live in. According to 532 00:28:32,560 --> 00:28:36,520 Speaker 1: a survey released Monday by personal finance website wallet Hub, 533 00:28:37,000 --> 00:28:39,360 Speaker 1: the two states scored higher on quality of life and 534 00:28:39,440 --> 00:28:43,240 Speaker 1: healthcare that you Bloomberg Trying State Business Report. I'm ed Corey. 535 00:28:43,440 --> 00:28:45,680 Speaker 1: Thanks said, It's five thirty eight on Wall Street. Bloomberg 536 00:28:45,760 --> 00:28:48,120 Speaker 1: Radio is on the air from San Francisco to New York, 537 00:28:48,240 --> 00:28:50,479 Speaker 1: London to Hong Kong. Let's check in with our global 538 00:28:50,520 --> 00:28:52,200 Speaker 1: news team for some of the top stories heard on 539 00:28:52,280 --> 00:28:58,200 Speaker 1: our three hundred affiliate radio stations around the world. I'm 540 00:28:58,240 --> 00:29:00,840 Speaker 1: Steves photos Can on ten ten Wins in New York. 541 00:29:00,920 --> 00:29:04,200 Speaker 1: We're talking about IBM posting its best sales growth in 542 00:29:04,280 --> 00:29:08,800 Speaker 1: ten years on strong demand for cloud services. I'm Corney's 543 00:29:08,840 --> 00:29:11,920 Speaker 1: Idaho on w h A S and Louisville. Hundai sees 544 00:29:11,960 --> 00:29:15,600 Speaker 1: sales returning to pre COVID levels this year. I'm Gina 545 00:29:15,680 --> 00:29:18,560 Speaker 1: Servetti and for w c C O in Minneapolis. We're 546 00:29:18,600 --> 00:29:22,200 Speaker 1: watching for earnings from three M. I'm klin HEPILM, BLOOMBAG 547 00:29:22,280 --> 00:29:25,320 Speaker 1: DAVE Digital Radio in London, Weatherport coom Bois Johnson hit 548 00:29:25,400 --> 00:29:28,960 Speaker 1: by further lockdown party allegations, this time for his birthday 549 00:29:29,000 --> 00:29:32,400 Speaker 1: at a sensitive time for a government in disarray. I'm 550 00:29:32,440 --> 00:29:34,600 Speaker 1: at dory on Governor at t A M in Cleveland. 551 00:29:34,640 --> 00:29:37,440 Speaker 1: I'm reporting there's still no dicision on the possible murder 552 00:29:37,760 --> 00:29:40,520 Speaker 1: my schools run by the University of Akron in Cleveland 553 00:29:40,560 --> 00:29:43,440 Speaker 1: State University. And those are some of the stories our 554 00:29:43,480 --> 00:29:46,520 Speaker 1: twenty hundred Bloomberg journalists and analysts are working on this 555 00:29:46,680 --> 00:29:49,480 Speaker 1: morning around the world. It's five thirty nine on Wall Street. 556 00:29:49,800 --> 00:29:53,920 Speaker 1: The following is an editorial from Bloomberg Opinion. Money market 557 00:29:54,040 --> 00:29:57,479 Speaker 1: mutual funds have a key vul nerbuilding in times of trouble. 558 00:29:57,720 --> 00:30:01,000 Speaker 1: Investors have a major incentive to get at first to 559 00:30:01,120 --> 00:30:04,520 Speaker 1: reduce the risk of runs. US regulators have proposed a 560 00:30:04,600 --> 00:30:09,200 Speaker 1: new reform, swing pricing, a mechanism already widely used in Europe. 561 00:30:09,640 --> 00:30:12,040 Speaker 1: Instead of allowing first movers to get out with no 562 00:30:12,280 --> 00:30:16,240 Speaker 1: price impact, it would demand funds adjust share prices to 563 00:30:16,360 --> 00:30:20,960 Speaker 1: reflect transaction costs, and during periods of heavy withdrawals, the 564 00:30:21,080 --> 00:30:24,680 Speaker 1: effect of selling less liquid assets. This would make investors 565 00:30:24,800 --> 00:30:27,720 Speaker 1: think twice about pulling out, and if they still did, 566 00:30:27,920 --> 00:30:30,680 Speaker 1: it would make them bear losses they would otherwise impose 567 00:30:30,880 --> 00:30:35,000 Speaker 1: on remaining shareholders. US money market funds don't love the idea, 568 00:30:35,320 --> 00:30:39,680 Speaker 1: but the European experience suggests swing pricing works, and if 569 00:30:39,720 --> 00:30:42,680 Speaker 1: it led some investors to switch to bank deposits, that 570 00:30:42,760 --> 00:30:47,040 Speaker 1: would merely reflect true risks being recognized. This editorial was 571 00:30:47,040 --> 00:30:50,240 Speaker 1: written by the Bloomberg Opinion editorial Board. I'm David Shipley. 572 00:30:50,400 --> 00:30:52,880 Speaker 1: For more Bloomberg Opinion, please go to Bloomberg dot com, 573 00:30:53,080 --> 00:30:55,880 Speaker 1: slash opinion or op i and go on the Bloomberg 574 00:30:56,000 --> 00:30:59,240 Speaker 1: terminal base has been Bloomberg Opinion. You can hear Bloomberg 575 00:30:59,280 --> 00:31:02,320 Speaker 1: Opinion editor riels every weekday at this time. Terminal customers 576 00:31:02,400 --> 00:31:05,480 Speaker 1: can read more at O, P I, n GO, SMP 577 00:31:05,600 --> 00:31:08,400 Speaker 1: futures down thirty seven points down. Futures are down a 578 00:31:08,480 --> 00:31:11,560 Speaker 1: hundred twenty nine. Nasdaq futures are lower by two hundred 579 00:31:11,680 --> 00:31:14,640 Speaker 1: six points. The tenure treasuries down four thirty seconds. The 580 00:31:14,720 --> 00:31:23,240 Speaker 1: yield one. You're listening to Bloomberg Daybreak Bloomberg eleven three 581 00:31:23,280 --> 00:31:25,760 Speaker 1: oh Weather mostly cloudy for now, but partial clearing later today, 582 00:31:25,760 --> 00:31:28,520 Speaker 1: with the high near forty degrees, sunny, breezy, cold tomorrow 583 00:31:28,600 --> 00:31:30,440 Speaker 1: only low twenties for highs will be in the upper 584 00:31:30,480 --> 00:31:33,520 Speaker 1: twenties by Thursday. Right now, clouds thirty seven degrees in 585 00:31:33,600 --> 00:31:40,240 Speaker 1: Central Park. Markets. Headlines and breaking news twenty four hours 586 00:31:40,320 --> 00:31:43,280 Speaker 1: a day at Bloomberg dot Com, the Bloomberg Business at 587 00:31:43,400 --> 00:31:53,400 Speaker 1: and at Bloomberg Quicktape. He's a Bloomberg Business lash and 588 00:31:53,480 --> 00:31:56,040 Speaker 1: I'm Karen Moscad. We're watching in video today. With the 589 00:31:56,080 --> 00:31:59,720 Speaker 1: shares down two point in early trading, sources tell Lesson 590 00:32:00,040 --> 00:32:02,880 Speaker 1: he has quietly preparing to abandon its purchase of ARM 591 00:32:03,000 --> 00:32:06,080 Speaker 1: from Softbang Group after making little to no progress and 592 00:32:06,120 --> 00:32:09,160 Speaker 1: winning approval for the forty billion dollar hip deal. US 593 00:32:09,200 --> 00:32:12,680 Speaker 1: dot index futures are lower, SMP futures down forty five points, 594 00:32:12,760 --> 00:32:15,280 Speaker 1: IS Morning down futures down a hundred eighties seven, and 595 00:32:15,400 --> 00:32:18,000 Speaker 1: NAS deck futures down two hundred twenty three. That's down 596 00:32:18,080 --> 00:32:20,560 Speaker 1: one and a half percent. The decks in Germany's up 597 00:32:20,600 --> 00:32:22,880 Speaker 1: seven tenths per cent. The ten year treasury down three 598 00:32:22,920 --> 00:32:25,240 Speaker 1: thirty seconds. You have one point seven eight percent. The 599 00:32:25,320 --> 00:32:27,520 Speaker 1: yield on the two year one point oh one percent. 600 00:32:28,040 --> 00:32:30,840 Speaker 1: Nine X screwde oil is up one percent of eighty 601 00:32:30,880 --> 00:32:32,960 Speaker 1: one cents at eighty four dollars, twelve cents of barrel 602 00:32:33,240 --> 00:32:35,440 Speaker 1: Combick School down two tenths per cent or three dollars 603 00:32:35,520 --> 00:32:38,560 Speaker 1: ninety cents at eighteen forty thirty announced, the euro one 604 00:32:38,600 --> 00:32:40,800 Speaker 1: point one to a three against the dollar, British found 605 00:32:40,840 --> 00:32:43,160 Speaker 1: one point three four six three, the ends at one 606 00:32:43,240 --> 00:32:46,040 Speaker 1: fourteen point oh eight and bitcoin at thirty six thousand, 607 00:32:46,120 --> 00:32:48,840 Speaker 1: four hundred dollars. That's down about one point two percent. 608 00:32:49,200 --> 00:32:52,200 Speaker 1: That's a Bloomberg business flash. Now here's Michael Barr with 609 00:32:52,280 --> 00:32:54,920 Speaker 1: more on what's going on around the world. Michael Karen, 610 00:32:54,960 --> 00:32:56,920 Speaker 1: thank you very much. The US is putting as many 611 00:32:57,000 --> 00:33:00,520 Speaker 1: as eighty five hundred troops on heightened alert were deployment 612 00:33:00,600 --> 00:33:04,400 Speaker 1: bolster NATO forces in Eastern Europe if needed, as Russian 613 00:33:04,440 --> 00:33:08,800 Speaker 1: troops mass on Ukraine's border. Defense Department spokesman John Kirby 614 00:33:08,920 --> 00:33:12,040 Speaker 1: says it's very clear that the Russians have no intention 615 00:33:12,200 --> 00:33:15,800 Speaker 1: right now of de escalating. Russia has denied and intends 616 00:33:15,840 --> 00:33:19,160 Speaker 1: to invade. Witness testimony gets under Wig and Earnest today 617 00:33:19,240 --> 00:33:22,760 Speaker 1: at the federal civil rights trial of three former Minneapolis 618 00:33:22,840 --> 00:33:26,400 Speaker 1: police officers accused of failing to intervene as fellow officer 619 00:33:26,480 --> 00:33:30,040 Speaker 1: Derek Chauvin killed George Floyd in the NBA. The next 620 00:33:30,160 --> 00:33:33,040 Speaker 1: lost in the NHL, The Rangers won, the Bruins and 621 00:33:33,280 --> 00:33:36,640 Speaker 1: Capitals lost. Global News twenty four hours a day on 622 00:33:36,840 --> 00:33:40,080 Speaker 1: air and on Bloomberg Quicktake, powered by more than twenty 623 00:33:40,160 --> 00:33:42,840 Speaker 1: seven under journalist and analysts more than a d twenty countries. 624 00:33:43,000 --> 00:33:46,240 Speaker 1: I'm Michael bar This is Bloomberg, Nathan Fire, Michael. Thanks, 625 00:33:46,280 --> 00:33:48,400 Speaker 1: It's almost a five forty nine on Lall Street. Now 626 00:33:48,480 --> 00:33:51,800 Speaker 1: live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak. 627 00:33:51,880 --> 00:33:53,360 Speaker 1: We want to take a few minutes down to focus 628 00:33:53,480 --> 00:33:57,000 Speaker 1: on the pandemic, its signs of progress against the omicrons area. 629 00:33:57,400 --> 00:33:59,520 Speaker 1: Dr Stewart Ray is with us now Vice Chair of 630 00:33:59,600 --> 00:34:02,720 Speaker 1: Medicine at the Johns Hopkins University School of Medicine. Doctor. 631 00:34:02,800 --> 00:34:04,760 Speaker 1: In recent days, you've seen the seven day average of 632 00:34:04,920 --> 00:34:11,360 Speaker 1: deaths from COVID hit an eleven months low on Friday. 633 00:34:11,920 --> 00:34:15,400 Speaker 1: Where are we in this o macron wave. Well, I 634 00:34:15,440 --> 00:34:19,759 Speaker 1: think it's great to see us cresting and coming down 635 00:34:19,800 --> 00:34:23,200 Speaker 1: off the case load nationally, But we have to realize 636 00:34:23,200 --> 00:34:26,640 Speaker 1: that this is a very heterogeneous outbreak in the US, 637 00:34:26,800 --> 00:34:29,399 Speaker 1: and there are areas that are still on the rise 638 00:34:29,520 --> 00:34:33,080 Speaker 1: and deaths are still rising. So uh, we'll we'll still 639 00:34:33,239 --> 00:34:36,040 Speaker 1: have to ride this out, but it looks like we're 640 00:34:36,080 --> 00:34:39,000 Speaker 1: headed for a better situation in the next month or so. 641 00:34:40,200 --> 00:34:43,759 Speaker 1: What's getting us past the peak. We've seen lots of 642 00:34:43,840 --> 00:34:48,040 Speaker 1: people boosted, of course, but not everyone is boosted against 643 00:34:48,160 --> 00:34:51,360 Speaker 1: the omicron variant, and I think it's probably safe to 644 00:34:51,440 --> 00:34:54,200 Speaker 1: say that masking and social distancing in many parts of 645 00:34:54,239 --> 00:34:59,040 Speaker 1: this country pretty uneven as well. Yes, so I think 646 00:34:59,120 --> 00:35:02,240 Speaker 1: that this far US is finding the folks who are vulnerable, 647 00:35:02,440 --> 00:35:07,799 Speaker 1: and it's likely to infect many or most of those. 648 00:35:07,960 --> 00:35:10,160 Speaker 1: We probably don't have a handle on exactly how many 649 00:35:10,200 --> 00:35:11,799 Speaker 1: cases there are because a lot of people just aren't 650 00:35:11,800 --> 00:35:14,440 Speaker 1: getting tested in ways that we could count them. So 651 00:35:14,840 --> 00:35:19,319 Speaker 1: there's probably a lot more cases than we're counting, which 652 00:35:19,400 --> 00:35:22,080 Speaker 1: suggests that we really are at a point where the 653 00:35:22,480 --> 00:35:25,759 Speaker 1: hospitalizations and deaths are far lower relative the cases than 654 00:35:25,800 --> 00:35:28,000 Speaker 1: they have been in the past. The question is whether 655 00:35:28,080 --> 00:35:30,960 Speaker 1: that's going to be true if we do see another 656 00:35:31,080 --> 00:35:36,040 Speaker 1: variant come along in the future. What's your expectation on 657 00:35:36,400 --> 00:35:39,480 Speaker 1: whether we could see another variant in the future, I asked, 658 00:35:39,600 --> 00:35:43,320 Speaker 1: because there's been so much discussion in recent days about, 659 00:35:43,760 --> 00:35:45,440 Speaker 1: you know, whether we're at a point where we can 660 00:35:45,520 --> 00:35:50,120 Speaker 1: start thinking about putting COVID generally behind us after this 661 00:35:50,520 --> 00:35:54,759 Speaker 1: macron wave. Well, I think we're looking at, uh, you know, 662 00:35:55,160 --> 00:36:00,800 Speaker 1: approaching an endemic state where uh, the gain immunity that 663 00:36:00,960 --> 00:36:04,040 Speaker 1: we have balances the loss of immunity. But the problem 664 00:36:04,160 --> 00:36:08,160 Speaker 1: is that that assumes genetically stable virus UH, and the 665 00:36:08,280 --> 00:36:11,440 Speaker 1: endemic state is not necessarily mild. You know, endemic UH. 666 00:36:11,960 --> 00:36:16,080 Speaker 1: Tuberculosis and malaria are scourges in places where those happen, 667 00:36:16,120 --> 00:36:18,880 Speaker 1: and those are far less transmissible. This one is going 668 00:36:18,960 --> 00:36:22,040 Speaker 1: to be hard to contain UH if we have waves 669 00:36:22,120 --> 00:36:26,120 Speaker 1: of new variants, so uh, you know, we we have 670 00:36:26,360 --> 00:36:29,440 Speaker 1: to think about keeping our masks close at hand and 671 00:36:29,560 --> 00:36:34,080 Speaker 1: watching local rates hope that the anti virals will become 672 00:36:34,120 --> 00:36:36,120 Speaker 1: more available so that we can use them when people 673 00:36:36,160 --> 00:36:38,480 Speaker 1: do get sick. And then we really may get to 674 00:36:38,560 --> 00:36:41,759 Speaker 1: a point where this becomes something we can manage, but 675 00:36:42,080 --> 00:36:44,400 Speaker 1: it's going to still be hard, and we don't know 676 00:36:44,520 --> 00:36:48,560 Speaker 1: exactly how severe variants that arise next might be they 677 00:36:48,600 --> 00:36:52,839 Speaker 1: do not necessarily have to become milder. I also wanted 678 00:36:52,840 --> 00:36:54,760 Speaker 1: to get your take on some of the latest research 679 00:36:54,840 --> 00:36:57,719 Speaker 1: we've heard from Fiser and Beyond Tech saying the three 680 00:36:57,840 --> 00:37:03,360 Speaker 1: doses of their vaccine neutralize the omicron variant. Are we 681 00:37:03,440 --> 00:37:05,400 Speaker 1: at a point now where we should start thinking about 682 00:37:05,440 --> 00:37:09,960 Speaker 1: three doses as full vaccination as opposed to the current 683 00:37:10,040 --> 00:37:13,840 Speaker 1: standard of two. I think that is where we'll probably 684 00:37:13,960 --> 00:37:16,200 Speaker 1: end up. We have so many people who have had 685 00:37:17,160 --> 00:37:20,160 Speaker 1: vaccination and infection in various orders, and we need to 686 00:37:20,280 --> 00:37:24,200 Speaker 1: develop methods for measuring immunity so that we would know 687 00:37:24,360 --> 00:37:27,880 Speaker 1: who needs additional dosing at this point. But for future 688 00:37:28,040 --> 00:37:31,279 Speaker 1: folks coming along, because we're gonna have generations of kids 689 00:37:31,320 --> 00:37:33,520 Speaker 1: who have to grow up with AS virus, we need 690 00:37:33,600 --> 00:37:37,040 Speaker 1: a good schedule, and I think it's likely that multiple 691 00:37:37,080 --> 00:37:39,600 Speaker 1: doses separated by months are going to be important, whether 692 00:37:39,640 --> 00:37:43,080 Speaker 1: we need an early and a later dose. That second 693 00:37:43,160 --> 00:37:46,920 Speaker 1: dose boosted levels but may not be absolutely necessary for 694 00:37:47,120 --> 00:37:51,800 Speaker 1: future of vaccination in uh time of lower rates of infection. 695 00:37:52,280 --> 00:37:54,520 Speaker 1: Only about thirty seconds left here, doctor, But the World 696 00:37:54,560 --> 00:37:57,400 Speaker 1: Health Organization has drawn attention to a new version of 697 00:37:57,640 --> 00:38:00,360 Speaker 1: the omicron variant, known as b A two. What do 698 00:38:00,480 --> 00:38:04,080 Speaker 1: we know about it? Well, that's been spreading quite a 699 00:38:04,120 --> 00:38:07,880 Speaker 1: bit in the Philippines. India was also President Denmark announced 700 00:38:07,880 --> 00:38:10,080 Speaker 1: made its way to the UK. It looks like it's 701 00:38:10,120 --> 00:38:13,000 Speaker 1: a you know, down less than five percent of all cases. 702 00:38:13,040 --> 00:38:16,200 Speaker 1: They're certainly worth watching. It has some jet differences from 703 00:38:16,320 --> 00:38:19,960 Speaker 1: the main Omicron Bryant, but we don't yet know that 704 00:38:20,040 --> 00:38:21,920 Speaker 1: it's going to cause us any more trouble. We just 705 00:38:22,040 --> 00:38:24,720 Speaker 1: need to keep an eye on it all right. As always, doctor, 706 00:38:24,840 --> 00:38:27,480 Speaker 1: thank you for your insights. Dr Stewart Ray is Vice 707 00:38:27,560 --> 00:38:30,840 Speaker 1: Chair of Medicine at the Johns Hopkins University School of Medicine. 708 00:38:30,960 --> 00:38:33,880 Speaker 1: Karen Nathan. It is five fifty three on Wall Street. 709 00:38:33,920 --> 00:38:36,080 Speaker 1: Time for the Bloomberg Law Report, brought to you by 710 00:38:36,160 --> 00:38:40,560 Speaker 1: American Arbitration Association. Business disputes are inevitable, resolve faster with 711 00:38:40,640 --> 00:38:44,680 Speaker 1: the American Arbitration Association, the global leader in alternative dispute 712 00:38:44,680 --> 00:38:48,120 Speaker 1: resolution for over ninety years. More at a dr dot org. 713 00:38:48,400 --> 00:38:50,600 Speaker 1: Let's get to the legal stories we're watching this morning. 714 00:38:50,640 --> 00:38:58,000 Speaker 1: From Bloomberg's Jeff Bellinger. Talboton International hired Michael del Negro 715 00:38:58,200 --> 00:39:01,840 Speaker 1: as its new vice president of Safety Compliance. They'll Negro 716 00:39:02,000 --> 00:39:05,120 Speaker 1: work for General Electric and its Appliances unit for more 717 00:39:05,160 --> 00:39:08,280 Speaker 1: than eleven years, a federal judge in Illinois, and several 718 00:39:08,400 --> 00:39:12,520 Speaker 1: biometric privacy claims against Amazon dot Com back to state court. 719 00:39:12,640 --> 00:39:17,080 Speaker 1: Two claims over alleged privacy violations involving Alexa devices will 720 00:39:17,200 --> 00:39:20,080 Speaker 1: proceed in the federal court. The California Senate passed to 721 00:39:20,120 --> 00:39:23,120 Speaker 1: build to provide new tax credits to small businesses that 722 00:39:23,239 --> 00:39:27,279 Speaker 1: were forced to close during the pandemic. Bloomberg Law everything 723 00:39:27,360 --> 00:39:31,440 Speaker 1: you need, all on one legal research platform, including guidance 724 00:39:31,520 --> 00:39:35,759 Speaker 1: analysis and Bloomberg market intelligence. Find out more at Bloomberg 725 00:39:35,880 --> 00:39:39,279 Speaker 1: Law dot com. Jeff, thank you now. Another legal story 726 00:39:39,320 --> 00:39:42,040 Speaker 1: where watching brings us to the Supreme Court. Justices have 727 00:39:42,200 --> 00:39:45,239 Speaker 1: decided their last case of the term. It will determine 728 00:39:45,280 --> 00:39:48,960 Speaker 1: how the Court's landmark ruling on American Indian reservations and 729 00:39:49,040 --> 00:39:53,480 Speaker 1: criminal jurisdiction applies to state prosecutions of non Indians. The 730 00:39:53,560 --> 00:39:56,120 Speaker 1: state of Oklahoma made an attempt to get the Court 731 00:39:56,200 --> 00:39:59,240 Speaker 1: to reverse the precedent of the ruling in McGirt versus 732 00:39:59,280 --> 00:40:03,360 Speaker 1: Oklahoma that was just handed down in The justices refused 733 00:40:03,400 --> 00:40:06,160 Speaker 1: to do that, instead deciding on a limited review for 734 00:40:06,239 --> 00:40:08,879 Speaker 1: more in the decision. Jim Grosso speaks to Bloomberg Law 735 00:40:08,960 --> 00:40:13,080 Speaker 1: reporter Jordan Reuben. So, the state of Oklahoma asked the 736 00:40:13,120 --> 00:40:17,359 Speaker 1: Supreme Court to reverse a decision it just handed down 737 00:40:17,640 --> 00:40:22,880 Speaker 1: in that's set a precedent for American Indian reservations. That's right, 738 00:40:23,000 --> 00:40:25,839 Speaker 1: and so it's a pretty bold request. We hadn't really 739 00:40:25,920 --> 00:40:29,680 Speaker 1: seen anything quite like this. It's obviously not unprecedented for 740 00:40:29,760 --> 00:40:34,040 Speaker 1: the court to overturn its precedent, but this request was 741 00:40:34,160 --> 00:40:37,160 Speaker 1: unusual for how quickly it was being made and being 742 00:40:37,239 --> 00:40:40,879 Speaker 1: made obviously because of a change in composition on the court. 743 00:40:41,200 --> 00:40:44,560 Speaker 1: Were there more than thirty petitions to the court. There were, 744 00:40:44,680 --> 00:40:46,800 Speaker 1: and they were all raising this same issue. And so 745 00:40:46,920 --> 00:40:50,000 Speaker 1: the state was raising this question of attempting to try 746 00:40:50,040 --> 00:40:53,560 Speaker 1: and overturn the decision in as you said, over thirty 747 00:40:53,680 --> 00:40:56,759 Speaker 1: petitions to the court, most of which were denied on 748 00:40:57,239 --> 00:41:00,680 Speaker 1: Monday in terms of the question of whether it overturned 749 00:41:00,760 --> 00:41:04,719 Speaker 1: the precedent. But the Court did grant review on Friday 750 00:41:04,960 --> 00:41:09,040 Speaker 1: of a related question that doesn't involve straight up overturning 751 00:41:09,080 --> 00:41:12,720 Speaker 1: the decision. So explain what the court says it will review. 752 00:41:13,200 --> 00:41:15,480 Speaker 1: So the Court is going to review the question of 753 00:41:15,560 --> 00:41:20,480 Speaker 1: how mcgert applies to non Indians, the state's power over 754 00:41:20,560 --> 00:41:24,840 Speaker 1: prosecuting non Indians. Mcgert involved in Indian Defendant, but in 755 00:41:25,000 --> 00:41:27,879 Speaker 1: the state's eyes, that left open the question of whether 756 00:41:27,960 --> 00:41:31,800 Speaker 1: a state can prosecute non Indians who commit crimes against 757 00:41:31,920 --> 00:41:35,640 Speaker 1: Indians in Indian country, which is the legal term referred 758 00:41:35,640 --> 00:41:40,880 Speaker 1: to for the reservation. And so it's essentially still a 759 00:41:41,040 --> 00:41:45,319 Speaker 1: question about state power and state authority, which was what's 760 00:41:45,320 --> 00:41:48,800 Speaker 1: happening against the backdrop of the broader mcgart issue, but 761 00:41:49,040 --> 00:41:52,560 Speaker 1: now in a narrower way, not taking on this broader 762 00:41:52,640 --> 00:41:55,759 Speaker 1: question of whether too straight up overturned the decision that 763 00:41:55,840 --> 00:41:58,760 Speaker 1: the court just issued. And that's the very law reporter 764 00:41:58,960 --> 00:42:01,719 Speaker 1: Jordan Rubens to you at the Bloomberg Student Grosso. Catch 765 00:42:01,800 --> 00:42:04,279 Speaker 1: more of that interview plus analysis of the latest legal 766 00:42:04,360 --> 00:42:06,960 Speaker 1: news by listening to the Bloomberg Law Show at ten 767 00:42:07,040 --> 00:42:10,120 Speaker 1: pm Eastern Time. Are subscribing to the Bloomberg Law Podcast, 768 00:42:10,400 --> 00:42:13,800 Speaker 1: and attorneys can find exceptional legal research and business development 769 00:42:13,840 --> 00:42:17,960 Speaker 1: tools at Bloomberg Law dot com. SMP Future is down 770 00:42:18,040 --> 00:42:20,319 Speaker 1: forty six points this morning. Down Future is down one 771 00:42:20,440 --> 00:42:23,360 Speaker 1: hundred ninety and nasdag Future is falling down two d 772 00:42:24,120 --> 00:42:27,440 Speaker 1: that's down one point six percent. Ten year Treasury is 773 00:42:27,480 --> 00:42:31,080 Speaker 1: down four thirty seconds, the yield one point seven eight percent, 774 00:42:31,640 --> 00:42:34,080 Speaker 1: and the yield on the two years at one point 775 00:42:34,160 --> 00:42:37,360 Speaker 1: oh one percent. The euro one point one to a 776 00:42:37,560 --> 00:42:42,359 Speaker 1: three against the dollar, and still ahead on Bloomberg day 777 00:42:42,360 --> 00:42:44,279 Speaker 1: Break and check on the business headlines and all the 778 00:42:44,360 --> 00:42:46,960 Speaker 1: news you need to start your day. And this is 779 00:42:47,040 --> 00:42:47,600 Speaker 1: Bloomberg