Speaker 1: Live from the Bloomberg Interactive Brooker Studios. This is is Bloomberg
Speaker 1: Daybreak for Friday, September six two. Coming up this hour,
Speaker 1: stock slide yields rise as we close out a tumultuous
Speaker 1: week for the markets. Investors get another key economic report
Speaker 1: before next week's FED decision. Fed X does not deliver
Speaker 1: for investors as shares plunge, and a key ruling in
Speaker 1: the classified documents probe of Donald Trump. New York City
Speaker 1: is nearing its breaking point by migrants sent from Texas.
Speaker 1: Plus preparations continue for Queen Elizabeth's funeral on Monday. I'm
Speaker 1: Michael bar More Ahead, I'm Don Stashard Sports. The Mets
Speaker 1: beat the Pirates, The Yankees visit Milwaukee tonight Thursday Night Football,
Speaker 1: That Jeeves beat the Charger. That's all straight ahead on
Speaker 1: Bloomberg Daybreak on Bloomberg Elimen Frio, New York, Bloomberg Washington,
Speaker 1: d C, Bloomberg one six one, Boston, Bloomberg nine sixty,
Speaker 1: San Francisco, Sirius x M one nineteen and around the
Speaker 1: world on Bloomberg Radio Dot Come and via the Bloomberg
Speaker 1: Business Add Good morning. I'm Nathan Hager, and I'm Karen
Speaker 1: Moscow and US DOT Index futures are lower this morning.
Speaker 1: We are coming up to five oh one on Wall Street,
Speaker 1: and we checked the markets every fifteen minutes throughout the
Speaker 1: trading day. On Bloomberg, U S and P futures down
Speaker 1: thirty seven points down, futures down two fifty four and
Speaker 1: Astack futures down one dty eight. The decks in Germany's
Speaker 1: down one point eight percent, ten year treasury down four
Speaker 1: thirty seconds. You're three point four six percent yield on
Speaker 1: the two year three point eight nine percent, Nathan hearing.
Speaker 1: This stock slide is deepening as we close out a
Speaker 1: trading week on track to be the worst since June.
Speaker 1: European equities are down for a fourth straight day as
Speaker 1: our stocks in Asia. Two year treasury yields are climbing
Speaker 1: to their highest level in fifteen years, deepening the curve
Speaker 1: in version that's seen as a recession signal. But Brent Shooty,
Speaker 1: chief investment strategist with Northwestern Mutual, thinks we may be
Speaker 1: seeing a bottom. Sentiment is already awful. People have sold
Speaker 1: already thrown at fifty percent, retracing of blows that we had,
Speaker 1: and I think you have the basis to the market
Speaker 1: having put in the bottom. That doesn't mean it won't
Speaker 1: be a grinding, back and forth advance, but I don't
Speaker 1: think we're going to go below those tune blows. Prince
Speaker 1: Duty with Northwestern Mutual says stocks usually hit a bottom
Speaker 1: when inflation peaks. We'll make an investors get another key
Speaker 1: economic report to digest before we head into the weekend.
Speaker 1: At ten am Wall Street time, we get September sentiment
Speaker 1: numbers from the University of Michigan and Bloomberg, so Michael
Speaker 1: McKee has more The sustained slide in gasoline prices should
Speaker 1: lift the headline sentiment index as well as consumers view
Speaker 1: of current economic conditions. The numbers that matter most, however,
Speaker 1: it will be the expected inflation gauges. The FED wants
Speaker 1: to ensure expectations stay anchored so a wage price spiral
Speaker 1: doesn't develop. Expected yearhead inflation should continue to drop along
Speaker 1: with gasoline prices. The rate was four point eight percent
Speaker 1: in July. That was down from five point two percent
Speaker 1: in June to the lowest in eight months. Michael McKee
Speaker 1: Bloomberg Daybreak. All right, Mike, thanks The sentiment report caps
Speaker 1: off of busy week of data, highlighted by Tuesday's hotter
Speaker 1: than expected inflation report. Traders now during their attention to
Speaker 1: next week's FED meeting, the debate is whether the Central
Speaker 1: Bank raises rates by seventy five basis points or a
Speaker 1: full one per cent. Liz and Saunders is chief investment
Speaker 1: strategist at Charles Schwab. To me, the likelihood is more
Speaker 1: on the seventy five end, just because I'm not sure
Speaker 1: at the stage in the game Powell wants to be
Speaker 1: seen as putting forth shock and aw kind of policy.
Speaker 1: I think more likely is keeping both November and December
Speaker 1: firmly on the table and really pushing back on this
Speaker 1: notion that even existed a month ago that after a
Speaker 1: September hike, the Fed might have the green light to pause.
Speaker 1: Now when it comes to market volatility, liz An Saunders
Speaker 1: or Charles Schaub says, high speed traders maybe driving some
Speaker 1: of the wild swings we've seen this week. Well, and
Speaker 1: this Maurin's equity action. Nathan Shares a FedEx or down
Speaker 1: nine cent in early trading. The company said preliminary results
Speaker 1: for the quarter fell short of expectations. Let me get
Speaker 1: this story from Bloomberg's Charlie Pellett The Courier said adjusted
Speaker 1: earnings for the fiscal first quarter were three forty four share,
Speaker 1: well short of the five ten average est about of analyst.
Speaker 1: CEO Raj Supermannian said in the statement, global volumes declined
Speaker 1: as macro economic trends significantly worsened later in the quarter,
Speaker 1: both internationally and in the US. In addition to withdrawing
Speaker 1: its fiscal three earnings outlook provided in June, FedEx also
Speaker 1: said it expects conditions to worsen in its fiscal second quarter.
Speaker 1: In New York, Charlie Pellett Bloomberg Daybreak. Okay, Charlie, thank you.
Speaker 1: Another stock falling this morning is General Electric. Those shares
Speaker 1: you down four percent in early trading. Gees finance chief
Speaker 1: is warning supply chain challenges will weigh on its third
Speaker 1: quarter performance. Well, Nathan, the rails are still on the
Speaker 1: move this morning. A tentative labor agreement is in place
Speaker 1: between freight rail companies and unions, and that aversus strike.
Speaker 1: President Biden reportedly told both sides failure was not an option.
Speaker 1: Bloomberg political contributor Rick Davis says the president deserves the
Speaker 1: victory lab and we had a big run up to this.
Speaker 1: Everybody was looking a lot of concerns about the impact
Speaker 1: on the economy, and the team and the president came
Speaker 1: through and and this is what you wanted to have happened,
Speaker 1: and they deserve a right to celebrate. Rig Davis spoke
Speaker 1: at our Washington correspondent Joe Matthew on Bloomberg's sound on.
Speaker 1: Stay tuned for more on the tentative deal when we
Speaker 1: speak with the Labor Secretary Marty Walsh. That's coming up
Speaker 1: on Bloomberg's Balance of Power Live at noon Eastern on
Speaker 1: Bloomberg Radio and Television. Staying with Politics Caring, there's news
Speaker 1: on the Justice Department's legal battle with former President Trump.
Speaker 1: A special Master has been named to review documentsies from
Speaker 1: our lago while denying a request from the d o
Speaker 1: J to keep using the documents in their probe. Bloomberg's
Speaker 1: Amy Morris has details from our newsroom in Washington. Both
Speaker 1: the Justice Department and the Trump legal team agreed retired
Speaker 1: federal Court judge Raymond Deary would be a suitable candidate
Speaker 1: for Special Master, but the government won't be allowed to
Speaker 1: keep using about one hundred documents listed as classified until
Speaker 1: after the Special Master reviews all eleven thous and documents
Speaker 1: to determine if any should be withheld because of attorney
Speaker 1: client or executive privilege. D o J also asked for
Speaker 1: a deadline of October seventeenth, but the court gave Deery
Speaker 1: until November thirty to complete his review, and the court
Speaker 1: ordered Trump to cover those costs. In Washington, I'm anymore
Speaker 1: as Bloomberg daybreak a right amy thank you Meantime in
Speaker 1: the Middle East, it's a meeting of two and battled leaders.
Speaker 1: Russian President Vladimir Putin told Chinese leader she Jan Ping
Speaker 1: he understands Beijing's questions and concerns about his invasion of Ukraine.
Speaker 1: Begin More from Bloomberg Stephen Angle in Hong Kong, this
Speaker 1: relationship is not as rosy and positive as it seems
Speaker 1: on the surface. The war does not necessarily play to
Speaker 1: China's needs, and any hope for a quick invasion and
Speaker 1: quick resolution of the Ukraine war is long. In the
Speaker 1: review of Mirror right now, it's been going for more
Speaker 1: than six months, and Bloomberg Stephen Angle says it was
Speaker 1: the first in person talks between President's Putin and she
Speaker 1: since the start of the war were in Ukraine. S
Speaker 1: ANDP future is now down thirty four points down, futures
Speaker 1: down two thirty three, Nastack futures are lower by a
Speaker 1: hundred thirty points the ten. Your treasury is down three
Speaker 1: thirty seconds. You'ld three point four or six percent. You'ld
Speaker 1: on the two year three point eight nine percent. Straight
Speaker 1: ahead your latest local headlines into check of sports. This
Speaker 1: is Bloomberg five oh seven on Wall Street. We're dealing
Speaker 1: with a truck fire this morning, south found of Jersey
Speaker 1: Turnpike Nearics and twelve. Details coming up in traffic. First
Speaker 1: Michael Byer with what else is going on in New
Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan.
Speaker 1: New York is reassessing the city's right to shelter practice
Speaker 1: following an influx of more than eleven thousand asylum seekers
Speaker 1: who have been busted from Texas. That's according to Mayor
Speaker 1: Eric Adams, chief Council, who says the city is nearing
Speaker 1: a breaking point with asylum seekers and the homeless. Council
Speaker 1: Brendan McGuire has said, though the law itself is staying put, obviously,
Speaker 1: none of those practices developed with anyone contemplating that they
Speaker 1: were going to be over ten thousand individuals bust into
Speaker 1: New York with no connection to New York from from overseas.
Speaker 1: Mayor Adams says the city will not be like those
Speaker 1: municipalities and states that fly people to Massachusetts or put
Speaker 1: people on buses. Are Adams spoke while touring an asylum
Speaker 1: seeker resourced navigation center, it doesn't matter if you came
Speaker 1: here on a Mayflower or on a bus. At the
Speaker 1: port authority, you deserve the dignity and respect that this
Speaker 1: city continues to show. Texas Governor Greg Abbott has been
Speaker 1: sending migrants from his state to New York City. Ukrainian
Speaker 1: authorities have found a mass burial site near a recaptured
Speaker 1: northeastern city previously occupied by Russian forces. President of Voladimir
Speaker 1: z Lensky announced the discovery in his nightly addressed to
Speaker 1: the nation. In the UK, preparations are ongoing for the
Speaker 1: funeral of Queen Elizabeth the Second next week. Rehearsals are
Speaker 1: underway as hundreds of soldiers and bagpipers are practicing for
Speaker 1: what is expected to be the biggest international event the
Speaker 1: UK has hosted in decades. In Westminster Hall. Meanwhile, thousands
Speaker 1: continue to wait hours in long lines to pay their
Speaker 1: respects to the Queen as she lies in state, including
Speaker 1: this woman. We were talking before we came, so we
Speaker 1: can't see, do we fow? But when we s stood there,
Speaker 1: she didn't know what to do to one another, and
Speaker 1: we both just about and then it's just that really
Speaker 1: overwhelming feeling. That Special coverage of Monday's funeral can be
Speaker 1: heard live on Bloomberg Radio starting at six am Wall
Speaker 1: Street Time. The U S National Hurricane Center is keeping
Speaker 1: a close eye on the newly formed tropical storm Piona
Speaker 1: in the Caribbean. Forecasters say if the storm stays on
Speaker 1: its current track, it will move through the Leland Islands
Speaker 1: today as it heads toward the Virgin Islands and Puerto Rico.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than journalists and analysts
Speaker 1: and more than a hundred twenty countries. Michael Barn This
Speaker 1: is Bloomberg Natham. Thank you, Michael. Almost five ten on
Speaker 1: Wall Street Time for the Bloomberg Sports Update. Good Morning,
Speaker 1: John Stann Show, Morning Nathan, All Around Baseball. It was
Speaker 1: Roberto Clemente day and nearly fifty years after his death
Speaker 1: in a plane crash. The ceremony took place in New York.
Speaker 1: The Tampa Bay Rays started ten Latin players, first time
Speaker 1: that's happened in City field. The Mets all war Clement's
Speaker 1: number twenty one the eighth the Pirates Clemente's team six
Speaker 1: to one to snap a three game loving three. Daniel
Speaker 1: vogelback with the Mets acquired from Pittsburgh, had two h
Speaker 1: three RB I s fifteen twin for Carlos Carrasco. The
Speaker 1: Mets now lead Atlanta by one. Dame Yankees a left
Speaker 1: Frankie Montas on the mount tonight in Milwaukee. He's made
Speaker 1: seven starts with the Yankees, only one once Thursday Night
Speaker 1: Football to kick off Wake two. Chargers lead in Kansas
Speaker 1: City by ten. The Chiefs scored the next twenty and
Speaker 1: included that ninety nine yard interception returned by Jalen Watson
Speaker 1: with ten and a half minutes to go. That's not
Speaker 1: the tie case won seven twenty four cost the injury
Speaker 1: for Sea at all their stars safety Jamal Adams. The
Speaker 1: ex Jet done for the year. Wren Quad w NBA
Speaker 1: Finals the Connecticut Sons stayed alive, outscored Las Vegas to seven.
Speaker 1: In the fourth quarter, they went by twenty nine. The
Speaker 1: Aces still lead the best of five series to to one.
Speaker 1: Roger Federer third on the list of most brand slams
Speaker 1: one with twenty. He was passed by both Rapiano dal
Speaker 1: and Novak Djokovit, but Federer obviously had a brilliant career,
Speaker 1: ranked number one for two hundred and thirty seven consecutive weeks.
Speaker 1: He's retiring at age forty one. When my love of
Speaker 1: tennis started, I was a bull kid in my hometown
Speaker 1: of Bozel. I used to watch the players with a
Speaker 1: sense of wonder. They were like giants to me, and
Speaker 1: I began to dream. My dreams led me to work harder,
Speaker 1: and I started to believe in myself. Federal play one
Speaker 1: more event, the Labor Cup in London next week. John
Speaker 1: Stashward Bloomberg Sports Nathan Thanks John, SFP Futures now down
Speaker 1: thirty five points down, Futures down tundred forty two. Nastack
Speaker 1: Futures leading the declines this morning, down one hundred thirty
Speaker 1: four points. Seeing dollar strength this morning with the euro
Speaker 1: below parody at point nine. Will check in on this
Speaker 1: market next with Michael Houston of CMC Bloomberg eleven three
Speaker 1: oh weather mostly sunny today with the upper seventies sunshine
Speaker 1: to start the weekend with a high near eighty Tomorrow
Speaker 1: might hit ninety by Sunday. Right now fifty eight in
Speaker 1: Central Park Markets, headlines and breaking news twenty four hours
Speaker 1: a day at Bloomberg dot Com, the Bloomberg Business Out
Speaker 1: and at Bloomberg Quick Tape, He's a Bloomberg Business Flash
Speaker 1: and I'm Karen Moscow. And equities are extending to clins,
Speaker 1: with an index of global stocks on track for the
Speaker 1: worst week since June, while engage of the dollar sourced
Speaker 1: to a fresh record reflecting vets for outside Federal Reserve
Speaker 1: interest rate hikes. US stuck index futures are dropping, suggesting
Speaker 1: the cell off that drove the SNP five hundred to
Speaker 1: its lowest clothes in about two months yesterday isn't over yet.
Speaker 1: We checked the markets every fifteen minutes throughout the trading
Speaker 1: day on Bloomberg. Right now, US in P futures are
Speaker 1: done about thirty seven points down, futures down two hundred
Speaker 1: fifty four, and NASTAC futures down one hundred thirty seven.
Speaker 1: The decks in Germany's down one point seven percent, the
Speaker 1: ten year treasury down to thirty seconds you three point
Speaker 1: four or five percent they yield on the two year
Speaker 1: three point eight nine percent. Nim X screwde oil is
Speaker 1: little change at eighty five dollar seventeen cents of barrel
Speaker 1: comexs golled down four tenths per cent or seven dollars
Speaker 1: thirty cents at seventeen sixty announce or make that sixteen
Speaker 1: seventy announced Rather the euro point zero against the dollar
Speaker 1: British found one point one three seven seven and the
Speaker 1: yen one forty three point to five. And look at
Speaker 1: a big coin this morning, down half percent at nineteen thousand,
Speaker 1: seven hundred fifty dollars as of Bloomberg Business Flash. Now.
Speaker 1: Here's Michael Barr with more on what's going on around
Speaker 1: the world. Munchael, Good morning, Good morning Karen. In the UK,
Speaker 1: preparations are ongoing for the funeral of Queen Elizabeth the
Speaker 1: second next week me while thousands continue to wait for
Speaker 1: hours to pay their respects to the Queen is she
Speaker 1: lies in state in Westminster Home. Coverage of Monday's funeral
Speaker 1: can be heard live on Bloomberg Radio starting at six
Speaker 1: am Wall Street Time, a federal judge as a pointed
Speaker 1: veteran New York jurist Raymond Derry to serve as a
Speaker 1: special Master in the criminal investigation into the presence of
Speaker 1: classified documents at Donald Trump's Florida home. In baseball, the
Speaker 1: Mets beat the Pirates seven one, The A's Lost Farrisday
Speaker 1: Night Football, the Chiefs beat the Chargers. Four. Global News
Speaker 1: twenty four hours a day on are and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven under journalist and analysts
Speaker 1: more than a hundred twenty countries. I'm Michael Barr. This
Speaker 1: is Bloomberg. Nathan all right, Michael, thank you. It is
Speaker 1: five nineteen on Wall Street Live from the Bloomberg Interactive
Speaker 1: Broker Studios. This is Bloomberg Daybreak. Want to go right
Speaker 1: now to Michael Howson joining his live chief market Analyst
Speaker 1: at CMC Markets. Michael, it is rough out there this morning.
Speaker 1: Does the gloom match what we're seeing in this economy? Yeah?
Speaker 1: I think think that's really the question that an awful
Speaker 1: lot of investors will be wrestling with as we look
Speaker 1: towards today's US open. I think if we look back
Speaker 1: at what FedEx said at the end of its last
Speaker 1: fiscal year, they were actually quite optimistic that despite rising costs,
Speaker 1: operating margins would improve because they upgraded their four year
Speaker 1: profit guidance of three. Here we are three months later
Speaker 1: and they pulled it completely. Now that suggests to me
Speaker 1: that something drastic has happened in the last three months.
Speaker 1: And certainly, I think if you look at the statement
Speaker 1: that they released last night, they've been caught out quite significantly.
Speaker 1: But really should we be surprised by this when we
Speaker 1: look at what energy prices have been doing in Europe,
Speaker 1: what's been happening in China. Um, it seems to me
Speaker 1: that obviously FedEx overstated their optimism in June and now
Speaker 1: are really cutting back quite significantly, and that really, I
Speaker 1: think should be worrying for an awful lot of investors.
Speaker 1: And I think as we head towards the end of
Speaker 1: the quarter and we looked towards October and the upcoming
Speaker 1: earning season, I think we could see quite a few
Speaker 1: more downgrades, and I think that's what we're seeing being
Speaker 1: reflected in the price action. How significant do you think
Speaker 1: those downgrades could be, Michael ah Well, as significant as
Speaker 1: probably the FedEx one that we've seen today. I mean,
Speaker 1: we're going to have to wait two or three weeks,
Speaker 1: but I don't think the market is going to wait
Speaker 1: for that. Um. I think the fact that Apple didn't
Speaker 1: increase its prices was telling. I think they feel that
Speaker 1: perhaps they won't be able to pass on those price increases.
Speaker 1: Having said that, I mean, Apple is a cash machine.
Speaker 1: They will still make plenty of profit. The bigger question
Speaker 1: will be will it be as much as people think?
Speaker 1: I mean, not for nothing. Is Apple not given any
Speaker 1: guidance for the past two or three years. So I
Speaker 1: think whatever the markets pricing market, Apple will comfortably beat.
Speaker 1: But I think it's going to be a very difficult
Speaker 1: six months UM for um con, humors and probably investors
Speaker 1: as well. Does this kind of market reaction we're seeing
Speaker 1: to the commentary that we're getting from some of these
Speaker 1: major companies have any effect on the Federal Reserve? Does
Speaker 1: it steers central bankers away from going for a jumbo?
Speaker 1: Says red hikes something bigger than seventy five basis points
Speaker 1: to try to achieve that soft landing that investors are
Speaker 1: looking for. Yeah, I don't think we're going to get
Speaker 1: a soft landing. I think it became much less likely.
Speaker 1: I don't think the Federal Reserve will do a hundred
Speaker 1: basis points next week. My base case has always been
Speaker 1: seventy five. I think when I spoke to you guys
Speaker 1: earlier this month, my base case was seventy five. That
Speaker 1: hasn't changed. What might change is what comes after that.
Speaker 1: So we could get fifty basis points perhaps in November,
Speaker 1: and potentially another fifty basis points in December. Ultimately, I
Speaker 1: think the Federal Reserve has it within its purview to
Speaker 1: manage its message so that it so that it doesn't
Speaker 1: unduly free the markets out. But I think seventy five
Speaker 1: basis points is a done deal. I don't think and
Speaker 1: these this this prediction could come back and hold me.
Speaker 1: I don't think I'll do our last minute here, Michael.
Speaker 1: The FED has said that it's gonna keep rates elevated
Speaker 1: for quite some time. What do you think it's gonna
Speaker 1: take for the Fed to pivot toward pulling back on
Speaker 1: rate hikes? Do you think it's I mean, how long
Speaker 1: do you think A while is going to be? I
Speaker 1: think they'll stop hiking the end of this year, and
Speaker 1: then we're going to have to get used to probably
Speaker 1: elevated rates for the next twelve to eighteen months before
Speaker 1: fed even considers a pivot. I think we could get
Speaker 1: a right cut if we get a recession that turns
Speaker 1: into a depression. Hopefully we won't get to that now. Indeed,
Speaker 1: thanks for this, Michael, I was always good to get
Speaker 1: your thoughts UH this morning. Michael Houston is the chief
Speaker 1: market analyst at CMC Markets. As we look at the market,
Speaker 1: it's UH pretty much read across the board around the world.
Speaker 1: Just thinking about what FedEx had to say about its outlook,
Speaker 1: pulling its outlook after raising it just three months ago.
Speaker 1: As Michael mentioned, it seems to be pervading into the
Speaker 1: market this morning. SMP futures are down thirty five points
Speaker 1: right now, DAL futures down two thirty nine and NASDAC
Speaker 1: futures leading the declines in a US futures contracts down
Speaker 1: a hundred thirty two points, a drop of one point
Speaker 1: one percent. Germany's DAX is down one point six percent,
Speaker 1: the CACK in Paris is lower by one point four percent.
Speaker 1: The tenure treasuries down three thirty seconds, yield three point
Speaker 1: four six percent. The yield on the two year three
Speaker 1: point eight nine uh dimex scrude little changed up about
Speaker 1: a tenth percent at eighty five dollars nineteen cents. The
Speaker 1: Beryl comex gold is down a third percent or five
Speaker 1: dollar sixty cents sixteen seventy seventy ounce Euro just below
Speaker 1: parody against the dollar at point nine nine seven two,
Speaker 1: and Bitcoin below twenty thousand at nineteen thousand, seven hundred
Speaker 1: fifty dollars. You're listening to Bloomberg Daybreak Bloomberg eleven three
Speaker 1: oh weather mostly sunny, upper seventies today, partly the mostly
Speaker 1: sunny with a high near eighty Tomorrow sun shines of
Speaker 1: afternoon cloud Sunday with highs in the upper eighties to
Speaker 1: around ninety. Right now prodcasting live from the Bloomberg Interactive
Speaker 1: Broker Studio in New York, Bloomberg E Living Freedom to Washington,
Speaker 1: d C. Bloomberg to Boston, Bloomberg one O six one
Speaker 1: to San Francisco, Bloomberg N sixteen to the Country, Sirius
Speaker 1: XM chant A one nineteen and around the globe, the
Speaker 1: Bloomberg Business app and Bloomberg Radio dot Com. This is
Speaker 1: Bloomberg Daybreak. It's five thirty on Wall Street. Good morning,
Speaker 1: I'm Nathan Hagar and I'm kerin Moscow. We're just about
Speaker 1: four hours away from the open of US trading. Let's
Speaker 1: catch you up to date on the news. You need
Speaker 1: to know what the sour. The stock slide is deepening
Speaker 1: as we close out one of the worst trading weeks
Speaker 1: since June. S and P futures are down about thirty
Speaker 1: seven points this morning, and Lisa Erickson had a public
Speaker 1: markets with US Bank Wealth Management says that shoppy nous
Speaker 1: is likely to continue. We've got the stock market and
Speaker 1: what I would call no man's land, and it's really
Speaker 1: because we are in a horse race to see how
Speaker 1: quickly inflation can come down and to what level. Lisa
Speaker 1: Ericson with US Bank says she expects the FED to
Speaker 1: keep tightening until inflation slows the meantime. Karen we get
Speaker 1: September sentiment numbers from the University of Michigan today, capping
Speaker 1: a busy week of data highlighted by a hotter than
Speaker 1: expected inflation report. Iniquity markets this morning, FedEx is the
Speaker 1: name on the move. Shares are down more than ninetent
Speaker 1: this morning after the company announced preliminary results for the
Speaker 1: quarter that missed expectations. Bloomberg's Ed Ludlow says macro economic
Speaker 1: weakness is weighing on FedEx. This is a company that's
Speaker 1: involved on cost production measures, right, and what they're saying
Speaker 1: is that the global slowdown in volume is outpacing, that
Speaker 1: they're monitoring closely fuel prices. But what they're saying is
Speaker 1: we can't keep up, Bloomberg said. Ludlow says FedEx expects
Speaker 1: financial pressures to continue in the short term, if not longer,
Speaker 1: and another stock falling in the pre market Care and
Speaker 1: is General Electric. We get the details on why from
Speaker 1: Bloomberg's Doug Prisner, g CFO Carolina died Back help sited
Speaker 1: persistent constraints and obtaining parts from suppliers. Happa also said
Speaker 1: those snags are pushing plan shipments further out on GES
Speaker 1: delivery timeline. The supply chain strain is also putting pressure
Speaker 1: on free cash flow. Happa said the company now expects
Speaker 1: it to be in line with or slightly better than
Speaker 1: the roughly one D sixty two million dollars g E
Speaker 1: generated in Q two in New York. I'm Doug Krisner,
Speaker 1: Bloomberg Daybreak. Okay, Doug thank you in this morning. Shoes
Speaker 1: of ge are down four percent. Well, the rails are
Speaker 1: still on the move this morning, Nathan with a tentative
Speaker 1: labor agreement in place between freight rail companies and unions
Speaker 1: that a versus strap. Stick with us for full coverage today,
Speaker 1: We're speaking with Labor Secretary Marty Walsh live at newn
Speaker 1: Eastern on Bloomberg Radio and Television. And the geopolitical note
Speaker 1: today brings us to that meeting between Russian President Jijin
Speaker 1: Ping and I'm sorry, but Russian President Vladimir Putin In
Speaker 1: Chinese leader hi Jinping. Putin told she he understands Beijing's
Speaker 1: questions and concerns about his invasion of Ukraine. The two
Speaker 1: met in their first in person meeting since Russia's invasion.
Speaker 1: SMP Future is right now down thirty eight points, Style
Speaker 1: Futures down two dred sixty three, straight ahead, your latest
Speaker 1: local headlines and a check of sports. This is Bloomberg
Speaker 1: and Wall Street fifty eight degrees in Central Park. Still
Speaker 1: dealing with that truck fire in the South. Founder of
Speaker 1: Jersey Turnpike truck Lanes. Michael Barr has more on what's
Speaker 1: going on in New York and around the world. Michael,
Speaker 1: thank you very much, Nathan. New York Mayor Eric Adam
Speaker 1: says he does not make a difference whether you came
Speaker 1: here on the Mayflower or on a bus. You deserve
Speaker 1: the dignity and respect this city continues to show. Mayor
Speaker 1: Adams spoke on touring an asylum seeker resource Navigation center
Speaker 1: and we are not going to be like those municipalities
Speaker 1: and state where we fly people to market's venue, where
Speaker 1: we put people on buses and have them failed to
Speaker 1: get the basic items they need. This is the crisis. Meanwhile,
Speaker 1: New York is reassessing the city's right to shelter practice
Speaker 1: following an influx more than eleven thousand asylum seekers who
Speaker 1: have been bussed from Texas. That's according to Mayor Adams
Speaker 1: Chief Council, who says the city is nearing a breaking
Speaker 1: point with asylum seekers and the homeless. In the UK,
Speaker 1: thousands are waiting in line to pay their respects to
Speaker 1: the country's longest serving monarch. Let's go to London and
Speaker 1: get the latest with Bloomberg's human potts. The line to
Speaker 1: walk past the Queen's Coffee now stretches to five miles
Speaker 1: along the river Thames. Many thousands have already had the
Speaker 1: chance to pay their respects as Queen Elizabeth lies in
Speaker 1: state at the Palace of Westminster ahead of Monday his funeral,
Speaker 1: but today a warning from the authorities that the queue
Speaker 1: may need to be closed or at least paused, if
Speaker 1: it reaches capacity. The current wait time is already estimated
Speaker 1: at fourteen hours. In London immu and part Sploomberg day Break,
Speaker 1: you can hear live coverage of the Queen's funeral on Monday,
Speaker 1: starting at six am Wall Street Time right here on
Speaker 1: Bloomberg Radio. President Biden is set to meet today with
Speaker 1: the families of w NBA star Brittney Grinder and US
Speaker 1: Marine veteran Paul Wheeland, both of whom are imprisoned in Russia.
Speaker 1: Biden spoke by phone in July with Grinder's wife and
Speaker 1: with Wheeland's sister, but both families have since requested in
Speaker 1: person meetings. Global News twenty four hours a day on
Speaker 1: air and on Bloomberg Quicktake, powered by more than seven
Speaker 1: hundred journalists and analysts more than a hundred twenty countries.
Speaker 1: Michael Barr, this is Bloomberg, Nathan. Thanks Michael five on
Speaker 1: Wall Street Time the Bloomberg Sports Update with John stash Hour.
Speaker 1: Thanks Nathan. Much needed to win for the Mets after
Speaker 1: seven losses in eleven games. Swept by the Cubs, Mets
Speaker 1: took it out on the Pirates at City Field. Up
Speaker 1: six one fourth inning, they won seven to one. Daniel
Speaker 1: Vogel back the ex Pirate had two HS, three rb
Speaker 1: i s, two run homer for Francisco Thendoor fifteenth win
Speaker 1: for Carlos Carrasco, and the Mets now lead Atlanta by
Speaker 1: one game. Meanwhile, Sandy Alderson announced he's stepping down as
Speaker 1: the Mets team president. Alders in his seventy four a
Speaker 1: cancer survivor. He left the team once before, but was
Speaker 1: brought back by Steve Cohen when he bought the Mets.
Speaker 1: Alderson will remain as an advisor. Yankees play tonight in Milwaukee.
Speaker 1: Tampa Baby Toronto eleven to nothing. The Raised on Roberto
Speaker 1: Clemente Day had an unprecedented all Latin lineup. They trailed
Speaker 1: the Yanks by seven games. The Blue Jays trail by
Speaker 1: six and a half NFL for the first time ever
Speaker 1: on Amazon and a good one in the a f
Speaker 1: C West in Kansas City. The Chiefs came from ten
Speaker 1: points down to the fourth quarter beat the Chargers twenty
Speaker 1: seven twenty four. They snapped the tie with a ninety
Speaker 1: nine yard pick six. The Giants, hoping to have rookie
Speaker 1: linebacker Cavon Thibodeau Sunday against Carolina, missed the o whenever
Speaker 1: the knee injury. The Giants took Pivota with the fifth
Speaker 1: pick of the draft. Roger Federer will play for Team
Speaker 1: Europe and the Labor Cup next week in London, and
Speaker 1: then retire from tennis at the age of what he wants.
Speaker 1: This is a bit of street decision because I will
Speaker 1: miss everything the tour has given me. But at the
Speaker 1: same time, there's so much to celebrate. I consider myself
Speaker 1: one of the most fortunate people on Earth. I was
Speaker 1: given a special talent to play tennis, and I did
Speaker 1: it at a level that I never imagined for much
Speaker 1: longer than I ever thought possible, better or always enormously popular.
Speaker 1: One twenty Grand Slams, just behind Rafa, Nadal and Novak
Speaker 1: joke Off. It's still certainly in the conversation for Greeds
Speaker 1: played it ever John Sash Bloomberg Sports Nathan all right, John,
Speaker 1: thank you it is five thirty seven on Wall Street
Speaker 1: time for the Tri State Business Report. Here's Bloomberg Scott Car.
Speaker 1: Nearly all of New York City's retail sectors have rebounded
Speaker 1: back to pre pandemic levels of ownership and activity. That's
Speaker 1: according to executive managing director at Cushman and Wakefield Stephen
Speaker 1: souten Dyke, who estimates they've handled about sixty retail deals
Speaker 1: this year, mostly what he calls the driving force of
Speaker 1: food and beverage deals. LPGA Commissioner Molly Marcos Salmon will
Speaker 1: give a ted style presentation on the last day of
Speaker 1: the New Jersey Women Business Leaders Forum later this month.
Speaker 1: This year's forums being held at Caesar's in Atlantic City.
Speaker 1: A prominent Waterbury, Connecticut based family business recently paid four
Speaker 1: point eight million for the sixteen acre Colonial Plaza on
Speaker 1: Thomaston Avenue in the city, with promises to rehabilitate it
Speaker 1: into a thriving retail and commercial center. Officials with Cornerstone
Speaker 1: real detail of the Hartford Business Journal. The family was
Speaker 1: inspired to buy the long struggling property given its prime
Speaker 1: location and recent investment in development by the city. That's
Speaker 1: the Bloomberg Christ State Business Report. I'm Scott Carr. Thanks Scott.
Speaker 1: On Wall Street. Bloomberg Radio is on the air from
Speaker 1: San Francisco to New York, London to Hong Kong. Let's
Speaker 1: check in with our global news team for some of
Speaker 1: the top stories heard on our three hundred affiliate radio
Speaker 1: stations around the world. I'm Steve Potaskan K and X
Speaker 1: in Los Angeles. Lists We're talking about the plunge of
Speaker 1: imports moving through the giant porte of l A. I'm
Speaker 1: Cornitanaho on kat r H in Houston. Popular a d
Speaker 1: H D drug adderall was experiencing shortages across the US.
Speaker 1: I'm Gina Servetti and for w b B, I'm in Chicago.
Speaker 1: I'm talking about the finger pointing between the f A
Speaker 1: A and the airlines when it comes to who's responsible
Speaker 1: for all of the airline delays this year. I'm Stephen
Speaker 1: Carroll on Bloomberg d A B Digital Radio in London.
Speaker 1: We've been reporting on the pans slumping to its lowest
Speaker 1: level since after retail sales figures for August disappointed. I'm
Speaker 1: Scott Carr on w d c H in Washington. I'm
Speaker 1: reporting the owners of Natz Park will have to beat
Speaker 1: a Zony deadline to keep operating the park, and those
Speaker 1: are some of the stories are twenty hundred Bloomberg journalists
Speaker 1: and analysts are working on this morning around the world.
Speaker 1: It's five thirty nine on Wall Street. The following is
Speaker 1: an editorial from Bloomberg Opinion. This editorial was written by
Speaker 1: the Bloomberg Editorial Board. Since Sha launched its invasion of
Speaker 1: Ukraine in February, China has consistently refused to criticize President
Speaker 1: Vladimir Putin. Instead, it has amplified Russian misinformation and bought
Speaker 1: huge quantities of Russian oil and gas on the cheap.
Speaker 1: The West should ensure Chinese President jij and Ping understands
Speaker 1: the price of allying too closely with Putin. If the
Speaker 1: US and Chinese leaders meet as expected at the G
Speaker 1: twenty summit in November, Biden should stress the growing Chinese
Speaker 1: investments in Russia could spur new penalties. The U s
Speaker 1: should also strengthen ties with countries threatened by a Sino
Speaker 1: Russian alliance, including India and Vietnam. Such moves won't end
Speaker 1: China and Russia's partnership, but with commitment, patience, and unity
Speaker 1: of purpose, the US and its allies can limit both
Speaker 1: countries ability to threaten the global order. This editorial was
Speaker 1: written by the Bloomberg Editorial Board. For more Bloomberg opinion,
Speaker 1: please go to Bloomberg dot com, slash Opinion or opie
Speaker 1: I n go on the Bloomberg terminal. This has been
Speaker 1: Bloomberg Opinion. Listen for Bloomberg opinion editorials every weekday at
Speaker 1: this time. Terminal customers can read more at O P
Speaker 1: I n go. This is Bloomberg Bloomberg eleven three oh other.
Speaker 1: Sunshine to when the week highs in the upper seventies
Speaker 1: will get to near eighty tomorrow under a party to
Speaker 1: mostly sunny sky sunshine for Sunday's afternoon clouds warmer with
Speaker 1: highs near ninety Right now fifty eight in Central Park markets.
Speaker 1: Headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, the Bloomberg Business at and at Bloomberg
Speaker 1: Quick Tape. He's a Bloomberg Business Flash and I'm Karen Moscow.
Speaker 1: Equity is extending to clients with an index of global
Speaker 1: stocks on track for the worst week since June, while
Speaker 1: I gat to the dollars wars to a fresh record,
Speaker 1: reflecting vets for outsize Federal Reserve interest rate hikes. We
Speaker 1: checked the markets every fifteen minutes throughout the trading day
Speaker 1: on Bloomberg Guess and p future is down thirty nine
Speaker 1: points this morning. Down futures down two hundred seventy four
Speaker 1: and nastack futures down. On the decks in Germany's down
Speaker 1: one point nine percent. Ten your treasury down four thirty seconds,
Speaker 1: You're three point four six percent. They yield on the
Speaker 1: two year three point eight nine percent. NI make screwed
Speaker 1: oil little change at eighty five dollars four cents of
Speaker 1: barrel co makes goal down half percent or eight dollars
Speaker 1: sixty cents is sixteen sixty eight ninety announced the euro
Speaker 1: point seven five against the dollar, British found one point
Speaker 1: one three h two and the n one forty three
Speaker 1: point three two. And Bitcoin this morning is down half
Speaker 1: percent in nineteen thousand, seven hundred fifty dollars as a
Speaker 1: Bloomberg Business flash. Now here's Michael Barr with more on
Speaker 1: what's going on around the world. Michael, thank you very much. Karen.
Speaker 1: In the UK, preparations are ongoing for the funeral of
Speaker 1: Queen Elizabeth the second next week. Meanwhile, thousands continue to
Speaker 1: wait hours in long lines at Webminster Hall to pay
Speaker 1: their respects to the Queen as she lies in state.
Speaker 1: The government said it was temporarily stopping people from joining
Speaker 1: the line because it has reached capacity. You can hear
Speaker 1: the Queen's funeral on Monday live on Bloomberg Radio starting
Speaker 1: at six a on Wall Street Time. A third party
Speaker 1: arbiter has been named by a federal judge to the
Speaker 1: FBI Trump document seizure case. Semi retired Judge Raymond Deerry
Speaker 1: has a deadline of November to finish his review of
Speaker 1: the documents. In baseball, the Mets beat the Pirate A
Speaker 1: seven one. The A's lost. Thursday Night Football, the Chiefs
Speaker 1: beat the Chargers. Twenty seven twenty four Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven under journalist and analysts
Speaker 1: more than a hundred twenty countries. Michael barn This is Bloomberg.
Speaker 1: Nathan Okay, Michael. Thanks, It's nine on Wall Street Live
Speaker 1: from the Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak.
Speaker 1: As we continue to assess this rough market this morning,
Speaker 1: we are joined by Audia level, senior US equity strategist
Speaker 1: at UBS. Nadia. It's great to speak with you again.
Speaker 1: It's interesting earlier this week when we got the hotter
Speaker 1: than expected inflation, we saw a big sell off. Now
Speaker 1: we're hearing gloomy warnings from the likes of FedEx in
Speaker 1: general Electric and seeing stocks sell off once again. I
Speaker 1: wonder what you make of this market reaction. Is it warranted?
Speaker 1: It is warranted. I mean, this is a market that
Speaker 1: is going to remain chopping under pressure. It's a market
Speaker 1: that is disgusting and more restrictive monetary policy. And so
Speaker 1: this is sort of the monetary policy that we haven't
Speaker 1: seen in decades, and so the market will continue to
Speaker 1: be going through this painful process as the economy UM
Speaker 1: digestive more restrictive monetary policy. You know, of course there's
Speaker 1: a lot, but as you notice, we're starting to see
Speaker 1: some of those crociform companies you know, on the house
Speaker 1: and side. We have this negative pre announcement and guidance full.
Speaker 1: So we suck that slowdown to broaden out and come
Speaker 1: and quarters and really put downward pressure on earn. His
Speaker 1: estimate UM will still need to come down back to
Speaker 1: Earth and even below. So we're looking for a more
Speaker 1: range bound market, no roll upside, But I would say
Speaker 1: that doesn't necessarily mean that there aren't things to do
Speaker 1: the position in such a market. Now from a relative standpoint,
Speaker 1: we continue like the defensive sectors like healthcare and consumer staples,
Speaker 1: and we continue to see opportunities within energy as we
Speaker 1: think that all prices will move higher. Yet, so if
Speaker 1: the market remains range bound, you're not thinking that we
Speaker 1: see uh, further testing perhaps of the June low. I mean,
Speaker 1: the SNP has got a way to go before it
Speaker 1: gets there. Yeah, it's possible that we could see a
Speaker 1: retest of the June low. And just given the fact
Speaker 1: that we do think that the earnest estimates still need
Speaker 1: to come down. And you know, if we see you
Speaker 1: next week while we're here from the FED, we are
Speaker 1: in the seventi five basis points camp, but we can't
Speaker 1: roll out a hundred basis points either. And we'll get
Speaker 1: the dot plus as well as a summary of economic
Speaker 1: productions next weekend, so that will give us some clues
Speaker 1: on the path, the hiking pathfor and forward and with
Speaker 1: the termalment will event really end up. And so there
Speaker 1: is risks to the soundside from the to the market,
Speaker 1: depending on where the feed ends up and what impact
Speaker 1: it ultimately has on the ecomomy. What are you looking
Speaker 1: at that could help you determine whether we do see
Speaker 1: seventy five or a hundred from the Fed next week?
Speaker 1: What data points are you looking at? Were? Of course,
Speaker 1: you know, we got the hot CPI this past week,
Speaker 1: and so um that puts upward risk um to a
Speaker 1: hundred basis points, you know, but I would say we
Speaker 1: also watched in long term inflation expectations. You know, that's
Speaker 1: what caused the FAT to pivot back in June. You know,
Speaker 1: more recently we saw from the New York and Atlanta
Speaker 1: and Michigan survey all showing a downtake in expectations. But
Speaker 1: we'll get another Michigan survey later this morning, so you know,
Speaker 1: we can't completely rule out a hundred basis points. I mean,
Speaker 1: Powell kind of left the door open for that um
Speaker 1: as well. What's the impact of these rising short term
Speaker 1: yields that we're seeing this deep inversion in the yield
Speaker 1: curve on stocks? You know, I think that you know,
Speaker 1: when norm really when the curve inverts two tens or
Speaker 1: you know, it's the three month ten year which hasn't
Speaker 1: inverted yet. Um, there's concerns about procession, and so if
Speaker 1: we do end up in our recession, that likely means
Speaker 1: that the earnest turns negative. Um, you know, recession, and
Speaker 1: the question remains like how much negative do they get?
Speaker 1: Right now, we're in that camp of thinking that we
Speaker 1: get a selfish landing, and so we're looking for a
Speaker 1: low sign digits earnest growth for next year. But again
Speaker 1: that you know, as monetary policy moves growther into restrictive territory,
Speaker 1: the risk of recession does increase and that will likely
Speaker 1: need that you could see potentially negative earners in twenty
Speaker 1: three if we end up in a recession. I'm looking
Speaker 1: a head certainly to that FED decision coming up in
Speaker 1: just a few days on Wednesday. Thanks for this, Naughty again,
Speaker 1: great speaking with you this morning. Naughtia level senior US
Speaker 1: equity strategist at UB Yes, Karen Heavin, thank you. It
Speaker 1: is five fifty three on Wall Street at this time.
Speaker 1: Now for the Bloomberg a Lot report. It has brought
Speaker 1: to you buy American Arbitration Association business disputes are inevitable.
Speaker 1: Brazil faster with the American Arbitration Association, the global leader
Speaker 1: in alternative dispute resolution for over ninety years. More at
Speaker 1: a dr dot org. Let's say to the legal stories
Speaker 1: we're watching this morning. From Bloomberg's Jeff Bellinger, the Federal
Speaker 1: Trade Commission is looking into so called dark patterns, digital
Speaker 1: design practices that businesses can deploy to manipulate consumer behavior
Speaker 1: and possibly compromise privacy. Problems facing gig workers are also
Speaker 1: on the FTC's radar. The Commission will crack down on
Speaker 1: pay and our deception, unfair contract terms, and anti competitive
Speaker 1: wage fixing. The Ohio Supreme Court ruled that police can
Speaker 1: keep a thirty one dollar pickup truck seized from a
Speaker 1: man who was arrested for drunk driving. Bloomberg Law everything
Speaker 1: you need, all on one legal research platform, including guidance
Speaker 1: analysis and Bloomberg Market Intelligence. Find out more at Bloomberg
Speaker 1: Law dot com. All right, Jeff Banks. Now another legal
Speaker 1: story we're watching. In a new book, the top federal
Speaker 1: prosecutor in Manhattan for half of Donald Trump's presidency says
Speaker 1: he was repeatedly pressured by Justice Department officials he used
Speaker 1: his office to help them politically demanding that Trump's critics
Speaker 1: be prosecuted, and the Chairman of the Senate Judiciary Committee,
Speaker 1: Dick Durbin says, we'll investigate the allegations. In the book
Speaker 1: by Jeffrey Burman, the former U S Attorney for the
Speaker 1: Southern District of New York whose outstair raised questions about
Speaker 1: political interference from her Bloomberg, jun Grosso speaks to William Banks,
Speaker 1: the professor at Syracuse University College of Law. Burman writes,
Speaker 1: in this book, throughout my tenure as U S attorney,
Speaker 1: Trump's Justice Department kept demanding that I used my office
Speaker 1: to aid them politically, and I kept declining in ways
Speaker 1: just tactful enough to keep me from being fired. I
Speaker 1: walked this tight rope for two and a half years.
Speaker 1: Should he have been walking this tight rope or should
Speaker 1: he have exposed this or quit? Well? I think you
Speaker 1: know it was highly inappropriate the pressure that was brought
Speaker 1: to bear on Berman by the what he calls main
Speaker 1: Justice in Washington and by the White House. But it
Speaker 1: was not unlawful. The norms Involveteer that we respect the
Speaker 1: independence of prosecutors, of course, and of U S attorneys
Speaker 1: in the federal system. But Berman, of course, as a Republican,
Speaker 1: he was appointed by President Trump. He thought that it
Speaker 1: would be a traditional appointment where he'd be allowed to
Speaker 1: do the cases and to arrive at just prosecutions using
Speaker 1: his judgment, and when that came to be less and
Speaker 1: less often in the case, I think, as he says,
Speaker 1: he was walking a tight rope, it's highly inappropriate. And
Speaker 1: as we know, eventually he was fired by the president,
Speaker 1: and the President has the legal discretion to be able
Speaker 1: to fire a U. S. Attorney just on a whim,
Speaker 1: as he so often did. Senator Dick Durbin of the
Speaker 1: Senate Judiciary Committee said, if accurate, Mr Berman's claims indicate
Speaker 1: multiple instances of political interference in the department's investigative and
Speaker 1: prosecutorial decisions. As you say, it's not against the law,
Speaker 1: it's just custom and a set of very important, longstanding norms.
Speaker 1: If they cross the line into illegality if it happens
Speaker 1: to obstruct justice in a given case. So if the
Speaker 1: effect of interference from main Justice or from the White
Speaker 1: House on the U. S. Attorney is to obstruct the
Speaker 1: prosecution in a substantive way, then that's a law violation.
Speaker 1: That's obstruction of justice, and the course we're considering obstruction
Speaker 1: in every kind of way now involving for President Trump,
Speaker 1: so he's no stranger to that. And as William Banks,
Speaker 1: a professor at Syracuse University College of Law, speaking with
Speaker 1: Bloombery student Grosso. Catch more of that interview plus analysis
Speaker 1: of the late legal news by subscribing to the Bloomberg
Speaker 1: Law Podcast or downloading the show at Bloomberg dot com
Speaker 1: slash podcast. Attorneys can find exceptional legal research and business
Speaker 1: development tools at Bloomberg Law dot com and on the
Speaker 1: Bloomberg terminal at b law Go. Futures this morning are falling.
Speaker 1: SMB Future is down about thirty five points down, features
Speaker 1: down two hundred thirty eight and NASDAC features down one
Speaker 1: twenty five. The ten year Treasury is down four thirty seconds,
Speaker 1: the yell three point four six percent, and the yield
Speaker 1: on the two year is at three point nine zero percent.
Speaker 1: Nimex Screde oil is it will change at eighty five
Speaker 1: dollar six cents of barrel, and comex gold is down
Speaker 1: about six tenths of upper cent. Still ahead on Bloomberg
Speaker 1: Daybreak and check on the business headlines and all the
Speaker 1: news you need to start your day, and this is Bloomberg.