1 00:00:01,240 --> 00:00:04,400 Speaker 1: Live from the Bloomberg Interactive Burger Studios. This is Bloomberg 2 00:00:04,480 --> 00:00:08,520 Speaker 1: day Break for Wednesday, January two. Coming up this hour, 3 00:00:08,760 --> 00:00:12,560 Speaker 1: Futures Rise. Following another roller coaster session on Wall Street, 4 00:00:12,680 --> 00:00:17,000 Speaker 1: Microsoft shares rebound on optimism over the company's cloud business. Next, 5 00:00:17,040 --> 00:00:19,280 Speaker 1: it's all about the FED as the Central Bank issues 6 00:00:19,320 --> 00:00:22,279 Speaker 1: of policy decision today, and President Biden says he has 7 00:00:22,320 --> 00:00:25,480 Speaker 1: no intention of putting American troops in Ukraine. The second 8 00:00:25,560 --> 00:00:28,600 Speaker 1: n y p D officer, Ambush Friday, has died. Plus 9 00:00:28,720 --> 00:00:31,360 Speaker 1: there's confusion after a higher New York court diverse the 10 00:00:31,440 --> 00:00:34,879 Speaker 1: ruling banning mask mandates. I'm Michael lar More Ahead, I'm 11 00:00:34,960 --> 00:00:36,920 Speaker 1: John stash Our and sports. The next loss to the 12 00:00:37,000 --> 00:00:39,440 Speaker 1: Lakers a win for the Islanders. The Devils lost in 13 00:00:39,560 --> 00:00:44,240 Speaker 1: David Ortiz voted into the Baseball Hall of Fame. That's 14 00:00:44,280 --> 00:00:48,600 Speaker 1: all straight ahead on Bloomberg day Break on Bloomberg Element Freeo, 15 00:00:48,680 --> 00:00:53,080 Speaker 1: New York, Bloomberg one, Washington, d C, Bloomberg one oh 16 00:00:53,159 --> 00:00:57,640 Speaker 1: six one, Boston, Bloomberg nine sixty, San Francisco, Sirius x 17 00:00:57,800 --> 00:01:01,160 Speaker 1: M one nine and around the world along Bloomberg Radio 18 00:01:01,280 --> 00:01:08,000 Speaker 1: dot Com and via the Bloomberg Business add and good morning. 19 00:01:08,000 --> 00:01:11,160 Speaker 1: I'm parin Moscow. I'm Nathan Hager. Bloomberg Daybreak is brought 20 00:01:11,200 --> 00:01:13,759 Speaker 1: to you by se I Imagine your asset management firms. 21 00:01:13,760 --> 00:01:17,160 Speaker 1: Operational infrastructure is a competitive advantage. Let see I show 22 00:01:17,160 --> 00:01:19,600 Speaker 1: you how at se I C, dot Com, slash I 23 00:01:19,760 --> 00:01:22,560 Speaker 1: M S and US future is rebounding this morning six 24 00:01:22,600 --> 00:01:24,440 Speaker 1: on one on Wall Street, we checked the markets every 25 00:01:24,440 --> 00:01:27,760 Speaker 1: fifteen minutes throughout the trading day. On Bloomberg, SMP futures 26 00:01:27,800 --> 00:01:30,399 Speaker 1: up sixty three points down, futures have three hundred sixty 27 00:01:30,400 --> 00:01:33,320 Speaker 1: eight nasday futures up two hundred ninety seven, and the 28 00:01:33,400 --> 00:01:35,480 Speaker 1: ten year treasury down four thir day seconds you had 29 00:01:35,480 --> 00:01:38,520 Speaker 1: one point seven eight percent Nathan, Well, Karen. This morning's 30 00:01:38,520 --> 00:01:42,080 Speaker 1: rebound comes after another roller coaster ride for stocks yesterday. 31 00:01:42,160 --> 00:01:45,600 Speaker 1: Let's get the details live from Bloomberg's John Tucker. John Nathan, 32 00:01:45,640 --> 00:01:49,160 Speaker 1: The SMP five hundred closed at the lowest level since October. 33 00:01:49,280 --> 00:01:53,560 Speaker 1: Technology shares were the biggest losers yesterday. Dip buyers did 34 00:01:53,600 --> 00:01:56,040 Speaker 1: resurface near the end of the day, but that wasn't 35 00:01:56,160 --> 00:01:59,040 Speaker 1: enough to stop the SMP five hundred from posting a 36 00:01:59,160 --> 00:02:03,480 Speaker 1: one point to sent loss. The index just shy. The correction, 37 00:02:03,760 --> 00:02:06,560 Speaker 1: closing more than nine percent off its record high from 38 00:02:06,560 --> 00:02:09,200 Speaker 1: three weeks ago. So where do we go from here? 39 00:02:09,480 --> 00:02:13,240 Speaker 1: Strategists from Goldman Sacks to City groups say now is 40 00:02:13,320 --> 00:02:16,600 Speaker 1: the time to jump in. Goldman strategists say any further 41 00:02:16,680 --> 00:02:20,720 Speaker 1: weakness should be seen as a buy opportunity. City strategists 42 00:02:20,720 --> 00:02:24,600 Speaker 1: say their beer market checklist suggests it's time to buy 43 00:02:24,680 --> 00:02:27,680 Speaker 1: the dip. Live in New York. I'm John Tucker, Bloomberg, 44 00:02:27,720 --> 00:02:30,800 Speaker 1: Debrik John. Thank you. The volatility continued after hours at 45 00:02:30,840 --> 00:02:33,160 Speaker 1: the release of Microsoft earnings. Right now shares are up 46 00:02:33,200 --> 00:02:35,280 Speaker 1: four percent in early trading, and we get more from 47 00:02:35,320 --> 00:02:38,720 Speaker 1: Bloomberg's Doug Christner. The company reported after the bell, and 48 00:02:38,760 --> 00:02:41,680 Speaker 1: the focus was on the Azure cloud computing business. For 49 00:02:41,720 --> 00:02:44,880 Speaker 1: the last quarter, revenue at the unit decelerated from the 50 00:02:44,960 --> 00:02:48,720 Speaker 1: two prior quarters, and that weekend, Microsoft shares in late trading, 51 00:02:49,040 --> 00:02:51,400 Speaker 1: but then on the call with analysts, the company said 52 00:02:51,440 --> 00:02:53,760 Speaker 1: the Azure sales growth rate would pick up in the 53 00:02:53,840 --> 00:02:58,720 Speaker 1: current quarter, excluding the impact of currency fluctuations. Shares then recovered. 54 00:02:59,040 --> 00:03:02,520 Speaker 1: Microsoft c O Sakya Adela has turned the Azure business 55 00:03:02,600 --> 00:03:06,960 Speaker 1: into a solid number two behind Amazon. Alphabet's Google ranks third, 56 00:03:07,000 --> 00:03:09,760 Speaker 1: but it's adding resources to catch up in New York. 57 00:03:09,760 --> 00:03:12,680 Speaker 1: On Dug Prisener Bloomberg Daybreak and Doug shares of Texas 58 00:03:12,760 --> 00:03:15,280 Speaker 1: Instruments are up nearly four percent in early training, the 59 00:03:15,320 --> 00:03:18,400 Speaker 1: chipmaker beat earnings estimates and gave an upbeat forecast of 60 00:03:18,520 --> 00:03:21,840 Speaker 1: next earnings. Continue. With about three dozen companies reporting today, 61 00:03:21,960 --> 00:03:24,800 Speaker 1: including Tesla, we get more on the electric carmaker from 62 00:03:24,840 --> 00:03:28,440 Speaker 1: Bloomberg's Tom Busby. The big focus will be margins and 63 00:03:28,480 --> 00:03:31,320 Speaker 1: how many vehicles it expects to sell this year. That's 64 00:03:31,360 --> 00:03:34,000 Speaker 1: after Tesla ramped up production in a big way in 65 00:03:34,040 --> 00:03:37,720 Speaker 1: twenty one at its Premont, California plant, also its facilities 66 00:03:37,720 --> 00:03:41,000 Speaker 1: in Shanghai. It also expanded into Austin, Texas, where it's 67 00:03:41,000 --> 00:03:44,560 Speaker 1: now headquartered, and into Germany. Also of interest, the latest 68 00:03:44,560 --> 00:03:49,800 Speaker 1: on its long awaited cybertruck. Tom Busby Bloomberg Daybreak. All right, Tom, 69 00:03:49,800 --> 00:03:52,080 Speaker 1: thank you all. Outside of earnings, today's key event for 70 00:03:52,120 --> 00:03:55,480 Speaker 1: Marcus comes this afternoon. We get a highly anticipated policy 71 00:03:55,480 --> 00:03:58,040 Speaker 1: decision from the Fed at two pm, and Bloomberg's Michael 72 00:03:58,080 --> 00:04:01,000 Speaker 1: McKee has more beneficials are going to be raising the 73 00:04:01,040 --> 00:04:04,880 Speaker 1: cost of borrowing at this meeting. Instead, they'll suggest interesstrates 74 00:04:04,920 --> 00:04:07,840 Speaker 1: will be going up soon. The Fed's current target rate 75 00:04:07,920 --> 00:04:11,080 Speaker 1: is essentially zero. Policymakers will try to figure out how 76 00:04:11,160 --> 00:04:12,839 Speaker 1: much it has to go up in order to bring 77 00:04:12,920 --> 00:04:15,760 Speaker 1: inflation down to their two percent target, but don't expect 78 00:04:15,760 --> 00:04:18,320 Speaker 1: them to publish a roadmap to how fast and how 79 00:04:18,360 --> 00:04:21,160 Speaker 1: far rates will move and when and how and by 80 00:04:21,160 --> 00:04:23,920 Speaker 1: how much the balance sheet will shrink. Expect Chair J. 81 00:04:24,040 --> 00:04:27,920 Speaker 1: Powell to say that with geopolitical tensions, supply chain problems, 82 00:04:28,160 --> 00:04:31,039 Speaker 1: and the COVID virus ever present, the FED will have 83 00:04:31,080 --> 00:04:34,840 Speaker 1: to remain flexible, deciding policy on a meeting by meeting basis. 84 00:04:35,080 --> 00:04:38,320 Speaker 1: Michael McKee, Bloomberg Daybreak, Thanks Michael, and here's the Fed 85 00:04:38,440 --> 00:04:40,800 Speaker 1: does have a tough road ahead. That's according to Nobel 86 00:04:40,880 --> 00:04:43,680 Speaker 1: laureate and economist Paul Krugman, who says the central bank 87 00:04:43,720 --> 00:04:46,080 Speaker 1: needs to slow down the economy but can't move too 88 00:04:46,120 --> 00:04:49,360 Speaker 1: quickly on rates. It sure looks as if the economy 89 00:04:49,480 --> 00:04:53,279 Speaker 1: has hit the speed limit. Um, but it's that's a 90 00:04:53,360 --> 00:04:55,880 Speaker 1: call for taking your foot off the gas pedal. It's 91 00:04:55,880 --> 00:04:58,280 Speaker 1: not a call for slamming on the brakes. And so 92 00:04:58,400 --> 00:05:00,920 Speaker 1: what they want to do then that's balancing act. How 93 00:05:00,920 --> 00:05:04,320 Speaker 1: did they sort of get us to level off, to 94 00:05:04,800 --> 00:05:08,120 Speaker 1: to slow down a little bit without throwing us into 95 00:05:08,320 --> 00:05:11,400 Speaker 1: into a recession. Nobel Laureate Paul Krugman made the comments 96 00:05:11,400 --> 00:05:13,880 Speaker 1: in an interview on Bloomberg Television. Stay tuned for live 97 00:05:13,920 --> 00:05:16,360 Speaker 1: coverage of today's FED decision on a special edition of 98 00:05:16,400 --> 00:05:19,400 Speaker 1: Bloomberg Surveillance. It starts at one thirty pm All Street 99 00:05:19,440 --> 00:05:23,400 Speaker 1: time on Bloomberg Radio and Television. Geopolitics also near the 100 00:05:23,440 --> 00:05:26,799 Speaker 1: top of today's agenda, Nathan ast pensions continue to simmer 101 00:05:26,839 --> 00:05:29,760 Speaker 1: with Russia and Ukraine. President Biden is indicating there is 102 00:05:29,839 --> 00:05:32,560 Speaker 1: no plan to send US troops into the country. On Bloomberg, 103 00:05:32,640 --> 00:05:35,480 Speaker 1: said Baxter has the story. President Biden says he may 104 00:05:35,560 --> 00:05:38,680 Speaker 1: move troops around and closer to Ukraine to be prepared 105 00:05:38,720 --> 00:05:41,839 Speaker 1: for any eventuality, but we have no intention of putting 106 00:05:41,880 --> 00:05:48,160 Speaker 1: American forces are native forces in Ukraine. But well, I said, 107 00:05:48,200 --> 00:05:51,240 Speaker 1: they're going to be serious economic consequences if he moves. 108 00:05:51,440 --> 00:05:54,479 Speaker 1: Biden also says Russia he believes understands how much of 109 00:05:54,520 --> 00:05:58,839 Speaker 1: an enormous deal this is globally, and says if Russia invades, 110 00:05:58,880 --> 00:06:02,800 Speaker 1: he would favor person those sanctions on Vladimir Putin in 111 00:06:02,880 --> 00:06:05,960 Speaker 1: San Francisco. I'm at Baxter Bloomberg Daybreak, Thanks Sad, and 112 00:06:06,000 --> 00:06:08,160 Speaker 1: back on Wall Street today, there's a fresh push to 113 00:06:08,240 --> 00:06:10,760 Speaker 1: retain talent. Bank of America is out with a new 114 00:06:10,800 --> 00:06:13,080 Speaker 1: plan to keep its employees, and we get the details 115 00:06:13,120 --> 00:06:16,279 Speaker 1: life from Bloomberg's Nita Young. Good morning, Granita, Good morning Nathan. 116 00:06:16,360 --> 00:06:19,520 Speaker 1: Bank of America's giving almost all of its employees their 117 00:06:19,600 --> 00:06:22,920 Speaker 1: share of a one billion dollar stock award. It goes 118 00:06:22,960 --> 00:06:25,520 Speaker 1: to staff making as much as five hundred thousand dollars 119 00:06:25,520 --> 00:06:28,919 Speaker 1: a year. That makes about nine percent of Bank of 120 00:06:28,960 --> 00:06:33,880 Speaker 1: America's global workforce available. CEO Brian moynihan says each eligible 121 00:06:33,880 --> 00:06:37,839 Speaker 1: employee will receive between sixty five and six hundred restricted 122 00:06:37,880 --> 00:06:41,680 Speaker 1: stock units based on compensation. Don't get the full value 123 00:06:41,680 --> 00:06:44,599 Speaker 1: in March, and shares will vest in equal payments over 124 00:06:44,680 --> 00:06:48,880 Speaker 1: four years starting in three It's the bank's latest move 125 00:06:48,920 --> 00:06:52,679 Speaker 1: as competition heats up to attract and retain top talent. 126 00:06:53,200 --> 00:06:57,000 Speaker 1: Live in New York, I'm Nita Young, Bloomberg Daybreak. All right, Nita, Thanks, 127 00:06:57,040 --> 00:06:59,960 Speaker 1: Futures are heating up. SMP futures up sixty four point, 128 00:07:00,040 --> 00:07:03,440 Speaker 1: staff futures up three hundred sixty Nasdaq futures leading the 129 00:07:03,480 --> 00:07:05,760 Speaker 1: games this morning. Up three hundred seven points are nearly 130 00:07:05,760 --> 00:07:09,520 Speaker 1: two point two percent. The tenure treasury is down five 131 00:07:09,560 --> 00:07:13,040 Speaker 1: thirty seconds, the yield one point seven eight percent. On 132 00:07:13,040 --> 00:07:16,200 Speaker 1: this FED Decision Day, straight ahead at least local headlines 133 00:07:16,560 --> 00:07:23,560 Speaker 1: plus a check of sports. This is Bloomberg in six 134 00:07:23,600 --> 00:07:25,800 Speaker 1: oh seven on Wall Street. It's cold in Central Park 135 00:07:25,920 --> 00:07:28,840 Speaker 1: twenty two degrees. Delays stacking up on the Harlem River 136 00:07:28,920 --> 00:07:32,000 Speaker 1: Drive FDR Combo thanks to a broken down vehicle. Details 137 00:07:32,040 --> 00:07:34,520 Speaker 1: coming up in Traffic First Michael Barr with more on 138 00:07:34,600 --> 00:07:36,040 Speaker 1: what's going on in New York and around the world. 139 00:07:36,080 --> 00:07:38,520 Speaker 1: Good morning, Michael, Good morning Nathan. Flags are flying in 140 00:07:38,560 --> 00:07:40,680 Speaker 1: the ass to have New York City after a police 141 00:07:40,720 --> 00:07:43,520 Speaker 1: officer gravely wounded last week in a Harlem shooting that 142 00:07:43,640 --> 00:07:47,320 Speaker 1: killed his partner has also died of his injuries. Officer 143 00:07:47,320 --> 00:07:50,240 Speaker 1: Wilbert Moore was taken off life support at a Manhattan 144 00:07:50,320 --> 00:07:53,080 Speaker 1: hospital four days after a gunman shot him and officer 145 00:07:53,240 --> 00:07:56,680 Speaker 1: Jason Rivera as they responded to a domestic disturbance called 146 00:07:56,760 --> 00:08:00,560 Speaker 1: Rivera died Friday. Morris family decided to donate his organs 147 00:08:00,640 --> 00:08:04,640 Speaker 1: just hours after he died. Leonard Agent is president and 148 00:08:04,880 --> 00:08:08,960 Speaker 1: CEO of Live on n Y, responsible for organ donations 149 00:08:09,000 --> 00:08:11,680 Speaker 1: for all of New York City. Their son became a 150 00:08:11,960 --> 00:08:15,600 Speaker 1: NYPD police officer to serve and protect and save lives, 151 00:08:16,200 --> 00:08:18,280 Speaker 1: and they knew that that was true in his life, 152 00:08:18,720 --> 00:08:20,960 Speaker 1: and they knew that he would want in his death 153 00:08:21,000 --> 00:08:23,920 Speaker 1: to be able to save lives. Agent with Live on 154 00:08:24,320 --> 00:08:27,120 Speaker 1: n Y says people will have a second chance of 155 00:08:27,200 --> 00:08:31,480 Speaker 1: life thanks to Officer Maura Chances arising. A powerful storm 156 00:08:31,520 --> 00:08:34,560 Speaker 1: will sweep the Northeast in the US, but more on 157 00:08:34,600 --> 00:08:37,680 Speaker 1: its impact on New York and New Jersey. Here's Bloomberg 158 00:08:37,720 --> 00:08:40,440 Speaker 1: meeting religious rob Caroline Michael. We're gonna be keeping an 159 00:08:40,440 --> 00:08:42,920 Speaker 1: eye out for a storm system for a late Friday 160 00:08:42,920 --> 00:08:45,280 Speaker 1: into Saturday across the Tri state area. It's going to 161 00:08:45,320 --> 00:08:48,160 Speaker 1: be a coastal storm developing off of North Carolina. What's 162 00:08:48,200 --> 00:08:49,560 Speaker 1: up in the air right now is the track of 163 00:08:49,559 --> 00:08:51,480 Speaker 1: the storm. How close does it come to the coast 164 00:08:51,559 --> 00:08:53,600 Speaker 1: Right now, the models are suggesting a tract that may 165 00:08:53,640 --> 00:08:55,959 Speaker 1: be too far to the east to dump a major 166 00:08:56,040 --> 00:08:58,840 Speaker 1: storm across the city. It looks like snowfall amounts could 167 00:08:58,840 --> 00:09:00,559 Speaker 1: be on the lighter side, but again that still is 168 00:09:00,679 --> 00:09:02,040 Speaker 1: very much up in the air and We'll have more 169 00:09:02,080 --> 00:09:03,800 Speaker 1: details on the track of the storm and how much 170 00:09:03,840 --> 00:09:06,480 Speaker 1: we may get later in the week. Michael rob Thank you, Sarah. 171 00:09:06,480 --> 00:09:10,520 Speaker 1: And appeals judge restored New York's mask mandate yesterday after 172 00:09:10,600 --> 00:09:13,040 Speaker 1: a judge in the lower court Monday rule that Governor 173 00:09:13,120 --> 00:09:17,440 Speaker 1: Kathy Hokel's administration lacked the constitutional authority to order people 174 00:09:17,440 --> 00:09:20,720 Speaker 1: to wear face coverings during the COVID nineteen pandemic. As 175 00:09:20,720 --> 00:09:23,640 Speaker 1: of now, the statewide mandate is only said to be 176 00:09:23,679 --> 00:09:27,720 Speaker 1: in place until February one. Meanwhile, New York State has 177 00:09:27,760 --> 00:09:30,880 Speaker 1: seen an eighty six percent decrease in COVID cases since 178 00:09:31,000 --> 00:09:34,480 Speaker 1: it's January seventh peak. Governor Hokel says, though deaths and 179 00:09:34,520 --> 00:09:38,520 Speaker 1: hospitalizations remain elevated. Two weeks ago we had over twelve thousand, 180 00:09:38,559 --> 00:09:42,280 Speaker 1: almost thirteen thousand people hospitalized. Now we're down to hundreds, 181 00:09:42,360 --> 00:09:45,199 Speaker 1: so it's still high, but uh, and we're also still 182 00:09:45,200 --> 00:09:48,880 Speaker 1: losing our friends and family and our loved ones. We lost. 183 00:09:49,280 --> 00:09:52,600 Speaker 1: Governor Hobo and residents rejected the two hundred forty one 184 00:09:52,600 --> 00:09:55,560 Speaker 1: million dollar bond measured to build a new highest school 185 00:09:55,720 --> 00:09:58,800 Speaker 1: in the special election yesterday. At last count, the bondfield 186 00:09:58,800 --> 00:10:02,079 Speaker 1: sixty six thirty four Global News twenty four hours a 187 00:10:02,160 --> 00:10:04,120 Speaker 1: day on a erand on Bloomberg Quick Take, powered by 188 00:10:04,160 --> 00:10:06,240 Speaker 1: more than twenty seven hundred journalists analysts more than a 189 00:10:06,280 --> 00:10:09,520 Speaker 1: hundred twenty countries. Michael Barr, this is Bloomberg nake. Okay, Michael, 190 00:10:09,520 --> 00:10:16,079 Speaker 1: thanks just about six ten on Wall Street Time for 191 00:10:16,080 --> 00:10:18,400 Speaker 1: the Bloomberg Sports Update with John Sennshower. Hay him. The 192 00:10:18,480 --> 00:10:21,199 Speaker 1: Nets have issues right now. Kevin Durant is injured, Kyrie 193 00:10:21,240 --> 00:10:23,559 Speaker 1: Irving can't play home games on the report that James 194 00:10:23,600 --> 00:10:26,600 Speaker 1: Harden doesn't like living in Brooklyn, and we'll opt out 195 00:10:26,600 --> 00:10:28,600 Speaker 1: and explore Sunny with a different team as a free 196 00:10:28,640 --> 00:10:30,880 Speaker 1: egine next summer. And Nets lost in Barkleys where they 197 00:10:30,880 --> 00:10:33,640 Speaker 1: are just twelve and twelve, beaten by the Lakers, who 198 00:10:33,679 --> 00:10:35,800 Speaker 1: came in under five hundred one of six nineties six 199 00:10:35,880 --> 00:10:38,520 Speaker 1: Lebron James scored thirty three points, so did Hard and 200 00:10:38,559 --> 00:10:41,280 Speaker 1: he had a triple double. The Knicks play tonight in Miami. 201 00:10:41,360 --> 00:10:43,839 Speaker 1: The Islanders. After the slow start of one seven of nine, 202 00:10:43,880 --> 00:10:46,760 Speaker 1: they've moved over five hundred. They beat the hapless Flyers 203 00:10:46,760 --> 00:10:48,760 Speaker 1: four three and Zach Paris they go all. The Devils 204 00:10:48,760 --> 00:10:51,480 Speaker 1: have lost five of six, beating home by Dallas five 205 00:10:51,520 --> 00:10:53,800 Speaker 1: to one. College hooths Iona one again. The Gales are 206 00:10:53,840 --> 00:10:57,720 Speaker 1: seventeen and three. Ructors and Fordham both lost Australian Open. 207 00:10:57,720 --> 00:11:01,440 Speaker 1: They'll be an American in each of tomorrow's women's semifinal matches. 208 00:11:01,480 --> 00:11:04,800 Speaker 1: Madison Keys will play Ash Party and Danielle Collins will 209 00:11:04,800 --> 00:11:08,800 Speaker 1: take on Vegas Swyrettech. Her quarterfinal win took three hours 210 00:11:08,880 --> 00:11:12,480 Speaker 1: in nineties seven degree heat. Daniel Medvedev Plane now he 211 00:11:12,559 --> 00:11:15,840 Speaker 1: has lost the first two sets for Felix, Larger Alias 212 00:11:15,960 --> 00:11:25,840 Speaker 1: and be a phone call plays to the Dominican Republic. 213 00:11:28,360 --> 00:11:37,040 Speaker 1: New York Yeah Copy voted in on the first ballot, 214 00:11:37,040 --> 00:11:39,560 Speaker 1: while Barry Bonds, Roger Clemens and Kirk Shilling all fell 215 00:11:39,600 --> 00:11:42,800 Speaker 1: short in their final year on the ballot. Sean Payton 216 00:11:42,800 --> 00:11:45,960 Speaker 1: resigned after sixteen years as code to the New Orleans Saints. 217 00:11:46,200 --> 00:11:49,880 Speaker 1: John Stash Bloomberg Sports Nathan Okay, John, thank you right now. 218 00:11:50,040 --> 00:11:52,880 Speaker 1: SMP futures are up fifty nine points. Staff futures up 219 00:11:52,880 --> 00:11:56,680 Speaker 1: there at thirty three, NASTAC futures up two hundred ninety 220 00:11:56,800 --> 00:12:00,640 Speaker 1: two points. Sequity futures solidly in the green on this 221 00:12:00,720 --> 00:12:08,160 Speaker 1: FED decision day. This is Bloomberg Bloomberg eleven three oh 222 00:12:08,200 --> 00:12:10,480 Speaker 1: weather sunny but chilly today, up for twenties for highs 223 00:12:10,520 --> 00:12:13,040 Speaker 1: will be near thirty tomorrow and a chance for afternoon 224 00:12:13,160 --> 00:12:17,040 Speaker 1: snow showers or flurries on Friday. Low thirties for highest 225 00:12:17,080 --> 00:12:22,680 Speaker 1: to end the week. Currently twenty two in Central Park Markets. 226 00:12:22,760 --> 00:12:25,840 Speaker 1: Headlines and breaking news twenty four hours a day at 227 00:12:25,880 --> 00:12:29,880 Speaker 1: Bloomberg dot Com, at Bloomberg Business Outland at Bloomberg Quicktape. 228 00:12:30,080 --> 00:12:38,960 Speaker 1: This is a Bloomberg Business Flash and I'm Karen Moscow. 229 00:12:39,040 --> 00:12:41,920 Speaker 1: This updates brought to you by Interactive Brokers Global Analysts. 230 00:12:41,920 --> 00:12:44,839 Speaker 1: Global Analysts helps you find new global investment opportunities to 231 00:12:44,920 --> 00:12:49,360 Speaker 1: diversify your portfolio and discover undervalued companies. Try Global Analysts 232 00:12:49,360 --> 00:12:52,640 Speaker 1: today at ibyk R dot com. Slash G a US 233 00:12:52,679 --> 00:12:54,760 Speaker 1: dot index. Future is on the rise this morning, along 234 00:12:54,800 --> 00:12:57,720 Speaker 1: with European shares ahead of a Federal Reserve decision on 235 00:12:57,760 --> 00:13:00,760 Speaker 1: which officials are expected to sign no plans for tyning policy. 236 00:13:00,880 --> 00:13:02,959 Speaker 1: If you check the markets every fifteen minutes throughout the 237 00:13:02,960 --> 00:13:06,000 Speaker 1: trading day, on Bloomberg s and P futures up sixty 238 00:13:06,000 --> 00:13:08,959 Speaker 1: two points down, futures up three hundred forty six and 239 00:13:09,080 --> 00:13:12,319 Speaker 1: nasdack futures of three hundred thirteen or two point two percent. 240 00:13:12,720 --> 00:13:15,040 Speaker 1: The decks in Germany's up two point two percent as well. 241 00:13:15,080 --> 00:13:17,200 Speaker 1: The ten year treasury down four thirty seconds. He had 242 00:13:17,240 --> 00:13:19,839 Speaker 1: one point seven eight percent yield on the two year 243 00:13:19,920 --> 00:13:22,520 Speaker 1: one point oh three percent. Non max screwed oil is 244 00:13:22,600 --> 00:13:24,640 Speaker 1: up six ten percent or fifty cents at eighty six 245 00:13:24,679 --> 00:13:27,560 Speaker 1: dollars eleven cents of barrel comex school down four tenths 246 00:13:27,559 --> 00:13:30,240 Speaker 1: percent or seven dollars ninety cents at eighteen forty seven 247 00:13:30,280 --> 00:13:32,880 Speaker 1: thirty ounce, the Euro one point one to eight one 248 00:13:32,920 --> 00:13:35,560 Speaker 1: against the dollar, British bound one point three five one seven, 249 00:13:35,840 --> 00:13:38,439 Speaker 1: the ends at one fourteen point one six and bitcoins 250 00:13:38,480 --> 00:13:41,599 Speaker 1: moving higher at thirty seven thousand, eight hundred dollars. And 251 00:13:41,720 --> 00:13:43,800 Speaker 1: we are getting earnings. This morning, we heard from anthem 252 00:13:43,800 --> 00:13:47,079 Speaker 1: It reported fourth quarter profit at meat analysts estimates. That's 253 00:13:47,080 --> 00:13:49,600 Speaker 1: a bloomberg business flash. Now here's Michael Barr with more 254 00:13:49,679 --> 00:13:52,559 Speaker 1: on what's going on around the world. Michael Darren, thank 255 00:13:52,600 --> 00:13:55,600 Speaker 1: you very much. Fearful of a Russian invasion in the Ukraine, 256 00:13:55,679 --> 00:13:58,200 Speaker 1: the US and need O allies are ramping up efforts 257 00:13:58,200 --> 00:14:01,040 Speaker 1: for a diplomatic solution to day France will hold a 258 00:14:01,120 --> 00:14:04,960 Speaker 1: high level meeting aiming to ease tensions between the two countries, 259 00:14:05,000 --> 00:14:08,760 Speaker 1: but President Biden has warning the U S troops on 260 00:14:08,840 --> 00:14:12,960 Speaker 1: standbody Europe couldn't be deployed sooner than later. Russia denies 261 00:14:12,960 --> 00:14:16,120 Speaker 1: it plans to invade Ukraine. In the NBA, the Nets 262 00:14:16,120 --> 00:14:19,560 Speaker 1: and Wizards lost, the Celtics and Warriors won. In the NHL, 263 00:14:19,680 --> 00:14:23,800 Speaker 1: the Islanders won the Devil's lost Red Sox Great David 264 00:14:23,920 --> 00:14:26,480 Speaker 1: Ortiz was elected to the Baseball Hall of Fame in 265 00:14:26,480 --> 00:14:30,040 Speaker 1: his first turn on the ballot. Steroid teenage stars Barry 266 00:14:30,040 --> 00:14:33,320 Speaker 1: Bonds and Roger Clemens were denied intrigue to Cooperstown in 267 00:14:33,320 --> 00:14:36,600 Speaker 1: their final year under consideration by the Baseball Writers Association 268 00:14:36,640 --> 00:14:39,600 Speaker 1: of America. Global News twenty four hours a day on 269 00:14:39,720 --> 00:14:42,880 Speaker 1: air and on Bloomberg Quicktake Power by more than twenty 270 00:14:42,960 --> 00:14:45,960 Speaker 1: seven hundred journalists and analysts more than a hundred twenty countries. 271 00:14:46,080 --> 00:14:48,960 Speaker 1: I'm Michael Barr. This is Bloomberg. Nathan, Okay, Michael, thanks 272 00:14:48,960 --> 00:14:51,000 Speaker 1: for coming up to six twenty on Wall Street line 273 00:14:51,000 --> 00:14:54,520 Speaker 1: from the Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak. 274 00:14:54,560 --> 00:14:57,320 Speaker 1: As we continue to watch these markets on FED decision day. 275 00:14:57,360 --> 00:15:00,080 Speaker 1: We're joined by Jeffrey You this morning, senior strategy just 276 00:15:00,600 --> 00:15:02,920 Speaker 1: at b n Y Melon. Jeff, it's great to have 277 00:15:03,040 --> 00:15:06,120 Speaker 1: you back with us as we watch this bounce back 278 00:15:06,320 --> 00:15:09,040 Speaker 1: in futures contracts this morning. Do you think this market's 279 00:15:09,040 --> 00:15:13,280 Speaker 1: found bottom? UM? I think the market is. I'm still 280 00:15:13,600 --> 00:15:17,480 Speaker 1: in a state waiting the fact that the risk negative 281 00:15:17,520 --> 00:15:20,520 Speaker 1: indicators and have not increased them, such as real rates 282 00:15:20,520 --> 00:15:23,320 Speaker 1: and the geopolitical stuff. UM. I think that that's just 283 00:15:23,400 --> 00:15:25,840 Speaker 1: the reason the markets to stabilized for some extent. For 284 00:15:25,880 --> 00:15:27,040 Speaker 1: the proof that's going to be in the pudding. Will 285 00:15:27,040 --> 00:15:29,720 Speaker 1: find out what happens after that tonight certainly, well two 286 00:15:29,720 --> 00:15:32,040 Speaker 1: pm Wall Street time, we get that decision from the 287 00:15:32,120 --> 00:15:34,360 Speaker 1: Federal Open Market Committee. But we've heard from a number 288 00:15:34,360 --> 00:15:37,360 Speaker 1: of strategists, including Goldman, Sachs City Groups, saying now is 289 00:15:37,400 --> 00:15:41,000 Speaker 1: the time to buy back in What about that? I 290 00:15:41,000 --> 00:15:42,640 Speaker 1: think you need to look at on a global basis 291 00:15:42,680 --> 00:15:45,080 Speaker 1: and overall in the US and within developed markets, and 292 00:15:45,160 --> 00:15:48,440 Speaker 1: we still believe, you know, has the best earnings potential 293 00:15:48,480 --> 00:15:50,120 Speaker 1: and best growth potential. You know, if we think growth 294 00:15:50,240 --> 00:15:52,400 Speaker 1: is going to surprise to the upside and the relative 295 00:15:52,480 --> 00:15:55,640 Speaker 1: to expectations, and that will translate into upside and surprises 296 00:15:55,640 --> 00:15:58,320 Speaker 1: for earnings UM as well pending real rates and of 297 00:15:58,360 --> 00:16:01,640 Speaker 1: course among the factors, you know, CPI is higher in 298 00:16:01,680 --> 00:16:03,920 Speaker 1: the US and that allows companies to pass on higher 299 00:16:03,920 --> 00:16:06,920 Speaker 1: input costs. And due to relative energy independence in the 300 00:16:07,000 --> 00:16:08,880 Speaker 1: U S so there's a less constrained and by the 301 00:16:08,880 --> 00:16:12,240 Speaker 1: factors affecting Europe from right now. But elsewhere, if you 302 00:16:12,280 --> 00:16:14,440 Speaker 1: look at Asia, for example, there's still pretty much a 303 00:16:14,440 --> 00:16:17,239 Speaker 1: catch of trade and having the fact that Chinese authorities 304 00:16:17,280 --> 00:16:20,760 Speaker 1: have to through their official papers come out and essentially 305 00:16:20,800 --> 00:16:23,960 Speaker 1: ask domestic and global investors to start buying Shanghai stock 306 00:16:24,040 --> 00:16:26,520 Speaker 1: and tells you know how concerned they are about the situation. 307 00:16:27,240 --> 00:16:30,320 Speaker 1: Does all that have you underweighting US stocks at this point? 308 00:16:30,520 --> 00:16:34,920 Speaker 1: What are you advising in terms of global positioning? So, 309 00:16:35,320 --> 00:16:38,920 Speaker 1: and that's always a tricky situation. Looking at our flow 310 00:16:38,960 --> 00:16:42,000 Speaker 1: indicators right now, what we've seen is especially given you 311 00:16:42,040 --> 00:16:44,480 Speaker 1: mentioned global position and we've seen a lot of cross 312 00:16:44,520 --> 00:16:48,160 Speaker 1: border selling of US equity. So international investors, you know, 313 00:16:48,240 --> 00:16:52,520 Speaker 1: they are overall and you know, underwaging their US exposure 314 00:16:52,640 --> 00:16:54,920 Speaker 1: right now. So if we are right in terms of 315 00:16:54,960 --> 00:16:57,400 Speaker 1: US growth and surprising to the upside and earning surprising 316 00:16:57,440 --> 00:17:00,440 Speaker 1: to the upside. We think recovery flow should then come 317 00:17:00,480 --> 00:17:03,200 Speaker 1: in Europe is and court somewhere in between them right now, 318 00:17:03,240 --> 00:17:06,000 Speaker 1: and the dollar, bearing in mind, doesn't impact US earnings 319 00:17:06,000 --> 00:17:07,800 Speaker 1: as much as the euro does for Eurozone and the 320 00:17:08,119 --> 00:17:10,920 Speaker 1: yet for Japan. So yes, US is in a better place, 321 00:17:11,520 --> 00:17:15,040 Speaker 1: but elsewhere we just know look at the growth trajectory, 322 00:17:15,080 --> 00:17:17,159 Speaker 1: the margin pressure I mentioned earlier, less tho on the 323 00:17:17,200 --> 00:17:20,679 Speaker 1: US much more unfavorable for Europe. They really need to 324 00:17:20,760 --> 00:17:23,920 Speaker 1: get the spy issues resolved. What ultimately do you think 325 00:17:23,920 --> 00:17:27,280 Speaker 1: has been driving the volatility this week? The wild swings 326 00:17:27,320 --> 00:17:31,560 Speaker 1: we've seen early in the sessions, chances for recovery late 327 00:17:31,680 --> 00:17:35,480 Speaker 1: in the US trading day. Is it just pricing in 328 00:17:35,640 --> 00:17:38,080 Speaker 1: what the Fed's gonna do? Is a geopolitics? Is it 329 00:17:38,200 --> 00:17:41,639 Speaker 1: something else? Um? So, real rates is still what we 330 00:17:41,720 --> 00:17:45,320 Speaker 1: have been focusing on. So yes, so the Fed it 331 00:17:45,400 --> 00:17:47,120 Speaker 1: isn't so to some extent, pricing and what the Fed 332 00:17:47,200 --> 00:17:48,840 Speaker 1: is going to do. The markets always concerned that the 333 00:17:48,840 --> 00:17:52,000 Speaker 1: Fed is going to do beyond even what's already priced now, 334 00:17:52,080 --> 00:17:55,200 Speaker 1: that always is the concern. So um, I'd rather serves 335 00:17:55,240 --> 00:17:58,720 Speaker 1: the market saying, let's self ask questions later I think 336 00:17:58,840 --> 00:18:03,040 Speaker 1: now we're coalescing and a consensus certainly have use valuations UM, 337 00:18:03,040 --> 00:18:06,560 Speaker 1: the fied cannot surprise further towards the upside issues like 338 00:18:06,640 --> 00:18:09,280 Speaker 1: fifty basis points and heights or selling assets and to 339 00:18:09,440 --> 00:18:11,919 Speaker 1: unwind the balance sheets. A lot of noise around that 340 00:18:12,000 --> 00:18:14,600 Speaker 1: last week year politics didn't help. I think that push 341 00:18:14,720 --> 00:18:17,959 Speaker 1: things on a bit excessively and now we're retracing some 342 00:18:18,040 --> 00:18:21,720 Speaker 1: of that. But still let's see what the communication is today. Interesting, 343 00:18:21,840 --> 00:18:24,720 Speaker 1: so you're not looking for any further volatility on the 344 00:18:24,720 --> 00:18:27,160 Speaker 1: back of whatever Chairman Powell has to say later today. 345 00:18:27,200 --> 00:18:29,440 Speaker 1: We've got about a minute left here, Jeff, I think 346 00:18:29,840 --> 00:18:31,840 Speaker 1: I'm sure. I think relative to what we've seen over 347 00:18:31,840 --> 00:18:34,400 Speaker 1: the last in the four to eight hours UM, that 348 00:18:34,640 --> 00:18:37,520 Speaker 1: perhaps will mark the peak and volatility because we don't 349 00:18:37,520 --> 00:18:40,280 Speaker 1: think that chairman power can serve a surprise them to 350 00:18:40,400 --> 00:18:42,399 Speaker 1: the upside. If we're wrong on that, then I think 351 00:18:42,440 --> 00:18:44,840 Speaker 1: market will need to brace some point of further adjustment, 352 00:18:44,920 --> 00:18:47,800 Speaker 1: especially within real rates other flowing the cases we're looking at, 353 00:18:47,840 --> 00:18:49,840 Speaker 1: you know, corporate spreads for example, you know, will back 354 00:18:49,880 --> 00:18:52,040 Speaker 1: start to get infected or we don't think so either 355 00:18:52,320 --> 00:18:55,000 Speaker 1: sufficiently nor we have seen things and being pride priced 356 00:18:55,000 --> 00:18:56,960 Speaker 1: in as well. So I think actually we will start 357 00:18:56,960 --> 00:18:58,520 Speaker 1: to shift away from the FED and look at waere 358 00:18:58,560 --> 00:19:00,679 Speaker 1: Jo politics takes us and then at back to resulting 359 00:19:00,680 --> 00:19:04,040 Speaker 1: with supply issues, which is keeping implacent patient high. It 360 00:19:04,040 --> 00:19:06,679 Speaker 1: sounds like there could be more turbulence ahead. Is that 361 00:19:06,760 --> 00:19:11,040 Speaker 1: your call um? So a net net the current drivers? Um, 362 00:19:11,359 --> 00:19:14,159 Speaker 1: we do think you know that the lawful jett hour 363 00:19:14,200 --> 00:19:16,720 Speaker 1: is they're going to be repeated. Um. But um, it 364 00:19:16,800 --> 00:19:18,600 Speaker 1: doesn't mean suddenly it's fine and andy and we're going 365 00:19:18,640 --> 00:19:20,600 Speaker 1: to go back to the status quo and upop up 366 00:19:20,640 --> 00:19:22,359 Speaker 1: nothing again. So it's still going to be a period 367 00:19:22,359 --> 00:19:25,119 Speaker 1: of volatility, just not an increase in the politility. All right, 368 00:19:25,160 --> 00:19:27,840 Speaker 1: jeff as always, thanks for your insights. Jeffrey You is 369 00:19:27,880 --> 00:19:31,119 Speaker 1: senior strategist at b n Y Melon. Ahead of the 370 00:19:31,119 --> 00:19:34,280 Speaker 1: FED decision today two pm Wall Street Time, Chairman Palace 371 00:19:34,320 --> 00:19:37,520 Speaker 1: Conference at two thirty, we will have full coverage on 372 00:19:37,560 --> 00:19:40,399 Speaker 1: a special edition of Bloomberg Surveillance starting at one thirty 373 00:19:40,440 --> 00:19:42,159 Speaker 1: this after the Wall Street Time. You can catch it 374 00:19:42,160 --> 00:19:45,399 Speaker 1: here on Bloomberg Radio, watch it on Bloomberg Television. We 375 00:19:45,440 --> 00:19:49,359 Speaker 1: are wherever you are with Bloomberg. Stay with us for 376 00:19:49,680 --> 00:19:52,080 Speaker 1: full Fed coverage ahead of it, S and B Futures 377 00:19:52,240 --> 00:19:54,960 Speaker 1: up sixty points, Staff futures up three A forty one, 378 00:19:55,040 --> 00:19:58,600 Speaker 1: Nasdaq features up two hundred ninety four points. Contain your 379 00:19:58,640 --> 00:20:01,520 Speaker 1: treasury right now down fourth thirty seconds the yield one. 380 00:20:02,800 --> 00:20:09,359 Speaker 1: This is Bloomberg. Bloomberg eleven three oh weather sunny, upper 381 00:20:09,400 --> 00:20:14,160 Speaker 1: twenties today, sunny near thirty tomorrow, chance of snow Friday 382 00:20:14,240 --> 00:20:17,919 Speaker 1: into Saturday, low thirties on Friday. Right now two in 383 00:20:17,960 --> 00:20:25,920 Speaker 1: Central Park, Broadcasting live from the Bloomberg Interactive Broker Studio 384 00:20:26,040 --> 00:20:28,920 Speaker 1: in New York. Bloomberg E Living for you to Washington, 385 00:20:29,000 --> 00:20:33,120 Speaker 1: d C. Bloomberg to Boston, Bloomberg one O six one 386 00:20:33,200 --> 00:20:36,680 Speaker 1: does San Francisco, Bloomberg Nome sixty to the country Sirius 387 00:20:36,800 --> 00:20:40,000 Speaker 1: XM Cho one nineteen and around the globe the Bloomberg 388 00:20:40,040 --> 00:20:44,480 Speaker 1: Business app in Bloomberg Radio dot Com. This is Bloomberg Daybreak. 389 00:20:49,920 --> 00:20:52,040 Speaker 1: It's six thirty on Wall Street. Good morning, I'm Nathan 390 00:20:52,040 --> 00:20:54,960 Speaker 1: Hagar and I'm fared Moscow, or just about three hours 391 00:20:55,000 --> 00:20:57,159 Speaker 1: away from the open of US trading. Time for the 392 00:20:57,160 --> 00:20:59,240 Speaker 1: five things you need to notice start your day. Brought 393 00:20:59,280 --> 00:21:02,000 Speaker 1: to you by in Directive Brokers ib k R charges 394 00:21:02,080 --> 00:21:05,320 Speaker 1: margin loan rates from zero point to one point five 395 00:21:05,400 --> 00:21:08,280 Speaker 1: nine percent rates subject to change. Learn more at ibk 396 00:21:08,440 --> 00:21:11,840 Speaker 1: R dot com slash compare At first, US futures higher 397 00:21:11,880 --> 00:21:14,280 Speaker 1: following another roller coaster ride on Wall Street, We get 398 00:21:14,320 --> 00:21:17,119 Speaker 1: the details live with the Bloomberg's John Tucker, John and 399 00:21:17,240 --> 00:21:20,520 Speaker 1: Karen SMB futures right now up one point three percent, 400 00:21:20,760 --> 00:21:24,080 Speaker 1: but global stocks still on course for their worst months 401 00:21:24,080 --> 00:21:27,040 Speaker 1: since the start of the pandemic. SMP five hundred is 402 00:21:27,080 --> 00:21:30,359 Speaker 1: heading for its worst January on record. Ampty yesterday's one 403 00:21:30,400 --> 00:21:34,320 Speaker 1: percent decline then as that composite yesterday fell two point 404 00:21:34,359 --> 00:21:37,200 Speaker 1: three percent, but there are signs the sell off could 405 00:21:37,280 --> 00:21:40,640 Speaker 1: ease Wall Streets fear gage. The vix fell off from 406 00:21:40,760 --> 00:21:43,800 Speaker 1: one year high, snapping six days of games, and now 407 00:21:43,880 --> 00:21:47,160 Speaker 1: strategist from Goldman Sachs to city groups say it's time 408 00:21:47,200 --> 00:21:50,000 Speaker 1: to buy. Live to New York on John Tucker Bloomberg 409 00:21:50,080 --> 00:21:52,120 Speaker 1: Day Break and John, It's been a roller coaster ride 410 00:21:52,160 --> 00:21:55,000 Speaker 1: for Microsoft investors as well after the bell to stock 411 00:21:55,040 --> 00:21:57,720 Speaker 1: fell six percent on a revenue decline from its cloud 412 00:21:57,720 --> 00:22:00,199 Speaker 1: competing business. But on the conference call Exact you have 413 00:22:00,240 --> 00:22:03,000 Speaker 1: said the Azure business can still drive growth Right now, 414 00:22:03,040 --> 00:22:05,959 Speaker 1: Microsoft shares are up nearly four percent this morning, and 415 00:22:05,960 --> 00:22:09,000 Speaker 1: shares the Texas Instruments also up four percent in early trading. 416 00:22:09,080 --> 00:22:12,000 Speaker 1: Nathan the chipmaker's earnings and forecast speed estimates up. Next, 417 00:22:12,040 --> 00:22:15,000 Speaker 1: we get results from about three dozen companies, including Tesla. 418 00:22:15,240 --> 00:22:17,879 Speaker 1: Lotside earnings can. Of course, the big agenda item today 419 00:22:17,960 --> 00:22:20,600 Speaker 1: is the FED. The Central Bank has a policy decision 420 00:22:20,680 --> 00:22:23,040 Speaker 1: and is expected to signal a March rate hike. We 421 00:22:23,040 --> 00:22:26,400 Speaker 1: get more from Bloomberg's Thanny del Judace. Bloomberg Economics says 422 00:22:26,440 --> 00:22:30,160 Speaker 1: the Fed's goal is telegraphing a March rate increase as well. 423 00:22:30,200 --> 00:22:32,760 Speaker 1: Does the balance sheet runoff in the aftermath of the 424 00:22:32,800 --> 00:22:36,439 Speaker 1: COVID banking economic rescue. Look for the Central Bank to 425 00:22:36,480 --> 00:22:40,520 Speaker 1: do so cautiously, noting uncertainty and downside risks to the 426 00:22:40,560 --> 00:22:44,159 Speaker 1: economic outlook given the impact of the omicron wave and 427 00:22:44,240 --> 00:22:48,320 Speaker 1: whatever may lie next for the coronavirus. Fini Judace, Bloomberg 428 00:22:48,400 --> 00:22:50,600 Speaker 1: Day Break, Thenny, thank you on Wall Street Today, there's 429 00:22:50,600 --> 00:22:52,920 Speaker 1: a fresh push to retain talent, this time from Beck 430 00:22:52,920 --> 00:22:55,480 Speaker 1: of America. We get the details live from Bloomberg's Reny 431 00:22:55,520 --> 00:22:57,440 Speaker 1: to Young, Good Morning, Rady to Good Morning, Karen Big 432 00:22:57,440 --> 00:22:59,920 Speaker 1: of America, is giving almost all of its employees they're 433 00:23:00,040 --> 00:23:02,720 Speaker 1: share of a one billion dollar stock award. It goes 434 00:23:02,760 --> 00:23:05,280 Speaker 1: to staff making as much as five hundred thousand dollars 435 00:23:05,320 --> 00:23:08,159 Speaker 1: a year. That makes about nine percent of Bank of 436 00:23:08,160 --> 00:23:12,840 Speaker 1: America's global workforce eligible. CEO Brian moynihan says each eligible 437 00:23:12,920 --> 00:23:16,640 Speaker 1: employee will receive between sixty five and six hundred restricted 438 00:23:16,640 --> 00:23:20,000 Speaker 1: stock units based on compensation. They'll get the full value 439 00:23:20,000 --> 00:23:22,640 Speaker 1: in March, and shares will vest in equal payments over 440 00:23:22,720 --> 00:23:26,400 Speaker 1: four years. Live in New York, I'm Rnita Young Bloomberg daybreak. 441 00:23:26,480 --> 00:23:28,280 Speaker 1: All right, renieda thank you, and that's the five things 442 00:23:28,280 --> 00:23:30,359 Speaker 1: you need to notice start your day. Brought to you 443 00:23:30,400 --> 00:23:33,480 Speaker 1: by Interactive Brokers. We have our top of local news 444 00:23:33,520 --> 00:23:39,639 Speaker 1: straight ahead. Now we do Karen, thank you, six thirty 445 00:23:39,640 --> 00:23:42,080 Speaker 1: three on Wall Street, twenty two degrees in Central Park 446 00:23:42,160 --> 00:23:44,440 Speaker 1: as we look out for northeaster by the end of 447 00:23:44,480 --> 00:23:47,320 Speaker 1: the week. We'll get details on that shortly. First Michael 448 00:23:47,320 --> 00:23:49,240 Speaker 1: Barr with what else is going on in New York 449 00:23:49,280 --> 00:23:51,720 Speaker 1: and around the world. Michael, thank you very much. Nathan. 450 00:23:51,760 --> 00:23:55,600 Speaker 1: President Joe Biden said he would consider personally sanctioning Vladimir 451 00:23:55,640 --> 00:23:59,800 Speaker 1: budinaview orders and invasion of Ukraine, escalating the US effort 452 00:23:59,800 --> 00:24:02,960 Speaker 1: to to tear the Russian leader from war. President Biden 453 00:24:03,000 --> 00:24:06,680 Speaker 1: to all reporters that there will be actions should Russia 454 00:24:06,840 --> 00:24:11,800 Speaker 1: decide to escalate things, not only in terms of economic 455 00:24:11,840 --> 00:24:16,440 Speaker 1: consequences and political consequences, but it will be enormous consequences worldwide. 456 00:24:17,440 --> 00:24:19,359 Speaker 1: This would be the largest if he were to move in, 457 00:24:19,600 --> 00:24:21,880 Speaker 1: will all those forced to be the largest invasions since 458 00:24:21,880 --> 00:24:25,159 Speaker 1: World War Two. Russia denies it as any intention of 459 00:24:25,160 --> 00:24:28,119 Speaker 1: an invasion. Tributes are pouring in for fallen n y 460 00:24:28,200 --> 00:24:31,480 Speaker 1: p D officer Wilbert More. He died yesterday at the 461 00:24:31,520 --> 00:24:34,679 Speaker 1: second ny PD officer to die and Friday's Harlem shooting. 462 00:24:35,000 --> 00:24:38,359 Speaker 1: The seven year olds organs were donated just hours after 463 00:24:38,440 --> 00:24:42,680 Speaker 1: he died. Leonard Agent is President and CEO of Live 464 00:24:42,840 --> 00:24:46,520 Speaker 1: on n Y, Live on n Y responsible for organ 465 00:24:46,640 --> 00:24:49,600 Speaker 1: donations for all of New York City and such a 466 00:24:49,680 --> 00:24:53,680 Speaker 1: tragic um, tragic story from New York Um, but people 467 00:24:53,760 --> 00:24:56,159 Speaker 1: will have a second chance of life thanks to the 468 00:24:56,200 --> 00:25:00,840 Speaker 1: generosity of the More family and officer More. Leonard h 469 00:25:00,960 --> 00:25:04,280 Speaker 1: And is President and CEO of Live on and Why 470 00:25:04,440 --> 00:25:08,359 Speaker 1: and Appeals. Judge restored New York's mask mandate yesterday to 471 00:25:08,440 --> 00:25:10,560 Speaker 1: day after a judge in a lower court rule that 472 00:25:10,720 --> 00:25:15,040 Speaker 1: Governor Kathley Hokele's administration lacked the constitutional authority to order 473 00:25:15,080 --> 00:25:18,080 Speaker 1: people to wear face coverings during the COVID nineteen pandemic. 474 00:25:18,480 --> 00:25:21,720 Speaker 1: The mask ruling is back in place while the governor's 475 00:25:21,720 --> 00:25:25,160 Speaker 1: administration pursues an appeal. All of this may be creating 476 00:25:25,200 --> 00:25:28,440 Speaker 1: confusion for students in schools and people in public places 477 00:25:28,680 --> 00:25:30,959 Speaker 1: as to what to do. Like this woman, you know, 478 00:25:31,160 --> 00:25:35,159 Speaker 1: it's a very complex situation, and I try to just 479 00:25:35,240 --> 00:25:39,240 Speaker 1: be respectful of other people if they choose something different, 480 00:25:39,240 --> 00:25:43,159 Speaker 1: and I've chosen because they do have a right to choose. 481 00:25:43,720 --> 00:25:47,880 Speaker 1: Some state school districts, particularly in Republican dominated areas, rushed 482 00:25:47,880 --> 00:25:51,280 Speaker 1: to make masks optional for students and teachers, but state 483 00:25:51,400 --> 00:25:54,639 Speaker 1: education officials told administrators they should continue in forcing the 484 00:25:54,680 --> 00:25:58,680 Speaker 1: mask mandate. The chances are rising a powerful storm will 485 00:25:58,720 --> 00:26:03,080 Speaker 1: sweep the Northeast late Friday into Saturday, bringing heavy snow, rain, 486 00:26:03,160 --> 00:26:06,960 Speaker 1: and winds. It could potentially disrupt air, rail and road 487 00:26:07,000 --> 00:26:10,120 Speaker 1: transportation as far as south as New York and New Jersey. 488 00:26:10,400 --> 00:26:12,760 Speaker 1: Hope Well Can residents turn thumbs down on a two 489 00:26:13,200 --> 00:26:15,840 Speaker 1: forty one million dollar bond measure to build a new 490 00:26:15,960 --> 00:26:19,520 Speaker 1: high school in a special election. Tuesday, Global News twenty 491 00:26:19,520 --> 00:26:22,240 Speaker 1: four hours a day only, or and on Bloomberg Quick Take, 492 00:26:22,400 --> 00:26:24,879 Speaker 1: powered by more than twenty seven hundred journalists analysts more 493 00:26:24,880 --> 00:26:27,680 Speaker 1: than a hundred twenty countries. Michael Barr, this is Bloomberg Anatham, 494 00:26:27,720 --> 00:26:35,040 Speaker 1: all right, Michael, Thanks sixty six on Wall Street. John 495 00:26:35,080 --> 00:26:37,879 Speaker 1: Stashowers here at the Bloomberg Sports Update. Thanks Nathan. There 496 00:26:37,880 --> 00:26:40,040 Speaker 1: had been a debate over whether David Ortiz would make 497 00:26:40,040 --> 00:26:42,240 Speaker 1: into the Hall of Fame. He rarely played in the field. 498 00:26:42,320 --> 00:26:44,360 Speaker 1: He was an average hit or his first six seasons 499 00:26:44,359 --> 00:26:47,080 Speaker 1: in Minnesota. He reportedly once failed the test for pds, 500 00:26:47,119 --> 00:26:49,639 Speaker 1: but Big Poppy ends up getting voted in on the 501 00:26:49,720 --> 00:26:52,480 Speaker 1: first ballot. In fourteen years in Boston five times he 502 00:26:52,520 --> 00:26:54,359 Speaker 1: finished in the top five and m v P voting 503 00:26:54,680 --> 00:26:57,840 Speaker 1: hit five hundred and forty one home runs and seventeen 504 00:26:57,880 --> 00:27:00,760 Speaker 1: more in the postseason. No one else got. Dan Barry, Bonds, 505 00:27:00,840 --> 00:27:03,160 Speaker 1: Roger Clemens, Kirch Schilling all fell short in their final 506 00:27:03,200 --> 00:27:05,720 Speaker 1: year on the ballot. Bonds and Clemens do the p D. 507 00:27:05,880 --> 00:27:08,480 Speaker 1: Shilling got seventy one percent last year and then said 508 00:27:08,520 --> 00:27:10,760 Speaker 1: he didn't want the writers to vote him in, so 509 00:27:11,480 --> 00:27:14,720 Speaker 1: they didn't. He dropped the fifty nine percent nets loss 510 00:27:14,720 --> 00:27:16,800 Speaker 1: of the Lakers at Barkley's one of the six nineties 511 00:27:16,800 --> 00:27:19,080 Speaker 1: six le Ron James scored thirty three points on to 512 00:27:19,160 --> 00:27:21,360 Speaker 1: James Harden. He had a triple double, but not much 513 00:27:21,400 --> 00:27:24,040 Speaker 1: help with the U B s Arena Islanders and Flyers 514 00:27:24,080 --> 00:27:26,000 Speaker 1: three three and the third one last rush for the 515 00:27:26,000 --> 00:27:29,199 Speaker 1: Islanders time second to the man advantage. Brocken over the 516 00:27:29,240 --> 00:27:38,239 Speaker 1: Flyer line. I have to set up take fires at 517 00:27:38,280 --> 00:27:42,200 Speaker 1: all takes three isles, but just m eight minutes ago 518 00:27:43,359 --> 00:27:45,560 Speaker 1: VP and the fourth three win moves the Islanders over 519 00:27:45,680 --> 00:27:48,400 Speaker 1: five hundred, while the Flyers now lost thirteen in a row. 520 00:27:48,520 --> 00:27:52,200 Speaker 1: Devils lost to Dallas five one. American Daniel Collins reached 521 00:27:52,200 --> 00:27:54,320 Speaker 1: the semi finals. The Australian opens to the final sits 522 00:27:54,359 --> 00:27:57,359 Speaker 1: a post into the men's semis upset Brewing now dail 523 00:27:57,440 --> 00:28:01,480 Speaker 1: Medvedev down two sets to the Canadian Felix jer Ali 524 00:28:01,520 --> 00:28:03,840 Speaker 1: ask to me the third step is in a tiebreaker. 525 00:28:03,880 --> 00:28:06,080 Speaker 1: Busy wait for new Giants g M bron Joe Shane. 526 00:28:06,080 --> 00:28:08,760 Speaker 1: He's already interviewed Dan Quinn and Brian day Ball for 527 00:28:08,840 --> 00:28:12,159 Speaker 1: the coaching job, Patrick Graham today, Brian Flores tomorrow the 528 00:28:12,320 --> 00:28:14,200 Speaker 1: same for the first time since two thousand six. You 529 00:28:14,240 --> 00:28:17,679 Speaker 1: need a new coach. John Payton resigned. John Stactually are 530 00:28:17,720 --> 00:28:20,959 Speaker 1: Bloomberg School? All right? John? Thanks? Almost six thirty eight 531 00:28:21,000 --> 00:28:22,719 Speaker 1: on Wall Street. Time to take a look at stocks, 532 00:28:22,760 --> 00:28:25,000 Speaker 1: some of the names moving in the pre market. Bloomberg 533 00:28:25,080 --> 00:28:28,280 Speaker 1: Radio and TV Markets correspondent Creedy Gupta is with us. 534 00:28:28,359 --> 00:28:32,520 Speaker 1: It's all about earnings this morning. Create. We have to 535 00:28:32,560 --> 00:28:35,320 Speaker 1: talk about Microsoft, because Nathan, this is a wild story 536 00:28:35,359 --> 00:28:38,640 Speaker 1: to me. Of course, we know Microsoft reported earnings last night. 537 00:28:38,720 --> 00:28:42,200 Speaker 1: They did actually top their estimates fifty billion dollars in 538 00:28:42,280 --> 00:28:44,960 Speaker 1: terms of quarterly sales, So good news for Microsoft, but 539 00:28:45,080 --> 00:28:48,440 Speaker 1: the real focus was on their Asia cloud computing services. 540 00:28:48,480 --> 00:28:53,120 Speaker 1: Those were actually increasing forty six percent uh this past quarter. Now, 541 00:28:53,280 --> 00:28:56,160 Speaker 1: the stock was actually down five percent on post market 542 00:28:56,240 --> 00:28:58,240 Speaker 1: last night. A lot of that was under concerns that 543 00:28:58,320 --> 00:29:01,000 Speaker 1: it wasn't hitting fifty percent sales growth, which it has 544 00:29:01,360 --> 00:29:04,600 Speaker 1: in the past two quarters. But this morning, Nathan m 545 00:29:04,680 --> 00:29:07,000 Speaker 1: s f t SR ticker. Those shares are up four 546 00:29:07,080 --> 00:29:08,760 Speaker 1: percent in the pre market. Now. A lot of folks 547 00:29:08,800 --> 00:29:11,520 Speaker 1: are saying this is because their investors on the street 548 00:29:11,520 --> 00:29:15,040 Speaker 1: analysts alike are actually very optimistic about the growth in 549 00:29:15,040 --> 00:29:16,920 Speaker 1: that cloud computing business, and we're gonna have to see 550 00:29:16,920 --> 00:29:20,120 Speaker 1: if those games hold through the open. But Nathan is 551 00:29:20,160 --> 00:29:22,680 Speaker 1: fascinating to me that the shares actually got punished last 552 00:29:22,760 --> 00:29:26,000 Speaker 1: night for a forty percent rise in sales growth. Yeah, 553 00:29:26,040 --> 00:29:29,440 Speaker 1: we got quite the roller coaster ride mirroring the overall market. 554 00:29:29,480 --> 00:29:31,360 Speaker 1: And that's not all we're looking at in tech this morning, 555 00:29:31,400 --> 00:29:34,240 Speaker 1: isn't It's not. We also have Intel until it actually 556 00:29:34,240 --> 00:29:37,120 Speaker 1: reporting after the bell, but you also have them winning 557 00:29:37,120 --> 00:29:39,880 Speaker 1: a historic victory in the fight in the European Union 558 00:29:39,920 --> 00:29:43,160 Speaker 1: courts over a record one point zero six billion dollar 559 00:29:43,280 --> 00:29:47,640 Speaker 1: European anti trust find. That's one point two billion dollars. Uh. Now, 560 00:29:47,680 --> 00:29:50,240 Speaker 1: this comes after the EU General Court ruled on Wednesday 561 00:29:50,240 --> 00:29:53,240 Speaker 1: that EU regulators made errors when they slapped Intel with 562 00:29:53,320 --> 00:29:57,479 Speaker 1: a penalty for allegedly squeezing out rival A m D. Now, 563 00:29:57,560 --> 00:30:00,320 Speaker 1: of course, getting that one point to billion dollar back, 564 00:30:00,360 --> 00:30:02,680 Speaker 1: I n TC s your taker up one point six percent, 565 00:30:02,720 --> 00:30:05,320 Speaker 1: be Nathan. Once again, they are also reporting after the 566 00:30:05,360 --> 00:30:08,360 Speaker 1: belt along with Tesla. Also definitely keep an eye on 567 00:30:08,400 --> 00:30:10,960 Speaker 1: both of those shares moving on and sticking with chip 568 00:30:11,000 --> 00:30:13,880 Speaker 1: makers though Texas Instruments t x N is your taker 569 00:30:14,000 --> 00:30:16,440 Speaker 1: up just shy of five percent after the chip maker 570 00:30:16,480 --> 00:30:19,400 Speaker 1: gave a first quarter forecast that was way stronger than expected, 571 00:30:19,440 --> 00:30:25,200 Speaker 1: analysts noting the company's conservatism amid a still supportive demand backdrop. 572 00:30:25,280 --> 00:30:28,240 Speaker 1: So good news in the chip maker space this morning, 573 00:30:28,400 --> 00:30:31,800 Speaker 1: All right, Bloomberg Radio and TV Markets correspondent Credy Gupta 574 00:30:31,880 --> 00:30:34,440 Speaker 1: with us as always in the pre market, and just 575 00:30:34,480 --> 00:30:37,600 Speaker 1: passing along some earnings that just crossed the Bloomberg terminal. 576 00:30:37,680 --> 00:30:39,800 Speaker 1: A T and T out with fourth quarter results that 577 00:30:39,880 --> 00:30:44,160 Speaker 1: topped analyst expectations, giving investors perhaps less reason to worry 578 00:30:44,160 --> 00:30:47,760 Speaker 1: over free phone promotions and mounting costs of five g 579 00:30:48,760 --> 00:30:51,000 Speaker 1: A T and T shares right now up one point 580 00:30:51,080 --> 00:30:53,880 Speaker 1: three percent in early trading. As for the broader market, 581 00:30:54,680 --> 00:30:57,640 Speaker 1: it's on the rise. SMP futures up sixty five point, 582 00:30:57,680 --> 00:31:01,000 Speaker 1: Staff futures up three seventy two, NASTACK futures a gain 583 00:31:01,040 --> 00:31:03,800 Speaker 1: of three D seventeen points leading the gains up too 584 00:31:03,840 --> 00:31:06,520 Speaker 1: and a quarter percent in the tech heavy futures. Ten 585 00:31:06,600 --> 00:31:09,360 Speaker 1: Your Treasury down four thirty seconds now the yield one 586 00:31:09,440 --> 00:31:14,120 Speaker 1: point seven eight percent on this FED Decision day. Stay 587 00:31:14,160 --> 00:31:23,400 Speaker 1: with us, you're listening to Bloomberg day Break Bloomberg eleven 588 00:31:23,440 --> 00:31:26,080 Speaker 1: three oh weather bracing for a late week nor easter today, 589 00:31:26,400 --> 00:31:30,280 Speaker 1: lots of sunshine, upper twenties near thirty tomorrow. Those showers 590 00:31:30,320 --> 00:31:33,520 Speaker 1: arrived Friday night. Last in the Saturday snow showers were 591 00:31:33,560 --> 00:31:39,720 Speaker 1: talking about, of course, markets, headlines and breaking news twenty 592 00:31:39,720 --> 00:31:42,600 Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg 593 00:31:42,640 --> 00:31:46,160 Speaker 1: Business at and at Bloomberg Quick Take. He's a Bloomberg 594 00:31:46,280 --> 00:31:56,160 Speaker 1: Business Flash and I'm Karen Moscow. Futures are jumping this morning. 595 00:31:56,240 --> 00:31:58,400 Speaker 1: We had the first word breaking news dash for today's 596 00:31:58,400 --> 00:32:01,840 Speaker 1: morning call. And here's Bill Maloney bel good morning and 597 00:32:02,040 --> 00:32:04,959 Speaker 1: good morning Karen. That's right. US features are surging right 598 00:32:05,000 --> 00:32:07,120 Speaker 1: now at Doubt futures currently up three d and sixty 599 00:32:07,120 --> 00:32:09,800 Speaker 1: four points, the SPS gaming sixty four will then Aztec 600 00:32:09,880 --> 00:32:13,040 Speaker 1: futures are higher by three hundred and three. The US 601 00:32:13,200 --> 00:32:15,640 Speaker 1: ten ye yield at one point seven eight percent, Gold 602 00:32:15,720 --> 00:32:18,360 Speaker 1: is down three, oil is trading higher, and bitcoin is 603 00:32:18,400 --> 00:32:21,520 Speaker 1: climbing by four percent. Europa markets are also in the 604 00:32:21,520 --> 00:32:23,840 Speaker 1: green lid by two percent. Games in France, Germany and 605 00:32:24,000 --> 00:32:26,520 Speaker 1: Italy and back in the US. On the economic front, 606 00:32:26,560 --> 00:32:28,959 Speaker 1: at ten o'clock new home sales, and at two o'clock 607 00:32:29,000 --> 00:32:32,320 Speaker 1: the f O MC rate decision. After develous night, Texas 608 00:32:32,360 --> 00:32:36,160 Speaker 1: Instruments gave an upbeat forecast, and Microsoft reported is trading 609 00:32:36,240 --> 00:32:39,560 Speaker 1: higher by four percent in the pre market regarding earnings. 610 00:32:39,560 --> 00:32:41,920 Speaker 1: This morning, a T and T beat on revenue, and 611 00:32:41,920 --> 00:32:44,160 Speaker 1: another news Facebook is said to be weighing a sale 612 00:32:44,240 --> 00:32:47,800 Speaker 1: it's crypto project. Wrapping things up. Jab Hunt was raised 613 00:32:47,800 --> 00:32:50,160 Speaker 1: to overweight at Barkley's moderna race to hold over at 614 00:32:50,160 --> 00:32:53,160 Speaker 1: Deutsche Bank, Draft Kings race to overweight at Morgan Stanley, 615 00:32:53,160 --> 00:32:56,400 Speaker 1: and Verizon was cut to neutral over at JP Morgan 616 00:32:57,000 --> 00:33:00,400 Speaker 1: Live from the first regu newsscomb Bill Maloney, care right, Bil, 617 00:33:00,400 --> 00:33:02,280 Speaker 1: thank you to hear live breaking news of your Bloomberg 618 00:33:02,280 --> 00:33:04,760 Speaker 1: type squalk on your terminal s q U A w 619 00:33:04,960 --> 00:33:07,360 Speaker 1: K and that's a Bloomberg business flash. Now here's Michael 620 00:33:07,360 --> 00:33:09,520 Speaker 1: Barrow with more on what's going on around the world. 621 00:33:09,560 --> 00:33:12,280 Speaker 1: Michael Karen, thank you very much. The US and NATO 622 00:33:12,400 --> 00:33:16,120 Speaker 1: are increasing military commitments to the Baltics and Eastern Europe 623 00:33:16,280 --> 00:33:20,840 Speaker 1: as fears over Russia invading Ukraine continued to rise. Denmark, France, 624 00:33:20,840 --> 00:33:24,320 Speaker 1: and Spain are all sending or offering to send military 625 00:33:24,320 --> 00:33:29,000 Speaker 1: assistance to various parts of the continent. Meanwhile, European negotiators 626 00:33:29,040 --> 00:33:32,160 Speaker 1: meet in Paris today. Russia denies it as any intention 627 00:33:32,200 --> 00:33:34,800 Speaker 1: to invade, even though one hundred thousand of its troops 628 00:33:35,200 --> 00:33:38,640 Speaker 1: are at Ukraine's border. In the NBA, the Nets and 629 00:33:38,680 --> 00:33:41,760 Speaker 1: Wizards lost, the Celtics and Warriors won. In the NHL, 630 00:33:41,880 --> 00:33:45,600 Speaker 1: the Islanders won the Devil's lost Red Sox Great David 631 00:33:45,680 --> 00:33:48,280 Speaker 1: Ortiz was elected to the Baseball Hall of Fame, and 632 00:33:48,320 --> 00:33:51,880 Speaker 1: his first turn on the ballot, Steroid tainted stars Barry 633 00:33:51,880 --> 00:33:55,000 Speaker 1: Bonds and Roger Clemens were denied entry to Cooper's Town 634 00:33:55,040 --> 00:33:58,040 Speaker 1: in their final year under consideration by the Baseball Writers 635 00:33:58,120 --> 00:34:01,640 Speaker 1: Association of America. WILL News twenty four hours a day 636 00:34:01,680 --> 00:34:04,720 Speaker 1: on air and on Bloomberg Quick Take, powered by more 637 00:34:04,760 --> 00:34:08,440 Speaker 1: than seven hundred journalists analyists more than a hundred twenty countries. 638 00:34:08,600 --> 00:34:12,320 Speaker 1: I'm Michael bar This is Bloomberg. The following commentary is 639 00:34:12,360 --> 00:34:16,880 Speaker 1: from Bloomberg Opinion. The simpler version of GE still requires 640 00:34:16,880 --> 00:34:20,080 Speaker 1: a manual and a compass. On earnings Day, I'm brook Sutherland, 641 00:34:20,160 --> 00:34:23,240 Speaker 1: a columnist for Bloomberg Opinion. The Industrial Giant on Tuesday 642 00:34:23,280 --> 00:34:26,080 Speaker 1: announced its first set of quarterly results since completing the 643 00:34:26,080 --> 00:34:29,800 Speaker 1: sale of its aircraft leasing business. That divestiture meaningfully shrank 644 00:34:29,880 --> 00:34:32,959 Speaker 1: the size of GE Capital, a former financial behemoth whose 645 00:34:33,040 --> 00:34:36,320 Speaker 1: varied interest almost sunk the company twice. As such, g 646 00:34:36,600 --> 00:34:39,960 Speaker 1: now gives numbers on a consolidated basis. This is supposed 647 00:34:40,000 --> 00:34:43,120 Speaker 1: to make the company easier to understand. In practice, the 648 00:34:43,160 --> 00:34:46,560 Speaker 1: transition made the task of deciphering Geese earnings materials even 649 00:34:46,600 --> 00:34:49,680 Speaker 1: more herculean than usual. In many ways, this is a 650 00:34:49,719 --> 00:34:53,440 Speaker 1: temporary problem, changes hard, particularly when the company in question 651 00:34:53,560 --> 00:34:56,200 Speaker 1: is a hundred and thirty year old giant. Ge announced 652 00:34:56,200 --> 00:34:58,680 Speaker 1: in November that it would split itself into three companies, 653 00:34:59,120 --> 00:35:01,360 Speaker 1: but there are some mr is. The GES unwined doesn't 654 00:35:01,400 --> 00:35:04,319 Speaker 1: quite solve. The divergence between the net income and cash 655 00:35:04,360 --> 00:35:07,520 Speaker 1: flow outlook had some investors scratching their heads. G has 656 00:35:07,520 --> 00:35:11,160 Speaker 1: a pathway to become a regular industrial company with regular challenges, 657 00:35:11,239 --> 00:35:13,520 Speaker 1: but it's not quite there yet. I'm Brook Sutherland. For 658 00:35:13,560 --> 00:35:16,120 Speaker 1: more opinion, please go to Bloomberg dot com, slash Opinion 659 00:35:16,280 --> 00:35:18,400 Speaker 1: or O P I N go on the Bloomberg terminal. 660 00:35:18,719 --> 00:35:22,759 Speaker 1: These has been Bloomberg Opinion and Bloomberg Opinion commentaries can 661 00:35:22,840 --> 00:35:25,520 Speaker 1: be heard every weekday at this time and terminal customers 662 00:35:25,520 --> 00:35:28,120 Speaker 1: can read more at l p I n go. It 663 00:35:28,280 --> 00:35:30,319 Speaker 1: is six fifty on Wall Street. Let's turn to news 664 00:35:30,320 --> 00:35:32,799 Speaker 1: and science and technology now with a Bloomberg n j 665 00:35:32,960 --> 00:35:35,640 Speaker 1: I T STEM report brought to you buy New Jersey 666 00:35:35,640 --> 00:35:39,120 Speaker 1: Institute of Technology ranked to top fifty national public university 667 00:35:39,160 --> 00:35:41,920 Speaker 1: by US News and World Report and top ten for 668 00:35:41,960 --> 00:35:45,040 Speaker 1: best career placement among public schools by the Princeton Review. 669 00:35:45,320 --> 00:35:47,839 Speaker 1: More at n j I T DOT E DU Now 670 00:35:47,840 --> 00:35:50,799 Speaker 1: here's just making news and science, Technology, engineering, and math. 671 00:35:51,200 --> 00:35:54,520 Speaker 1: Beijing has reported fourteen new COVID cases as it began 672 00:35:54,600 --> 00:35:57,640 Speaker 1: a third round of mass testing of millions of people. 673 00:35:58,040 --> 00:36:01,280 Speaker 1: Beijing is stepped up China's already strict pandemic response measures 674 00:36:01,320 --> 00:36:04,480 Speaker 1: as it tries to quash any outbreaks ahead of the Olympics, 675 00:36:04,520 --> 00:36:08,960 Speaker 1: which opened in nine days. Microsoft's new multi function Google 676 00:36:09,080 --> 00:36:11,520 Speaker 1: system for the U. S Army shows promise, but the 677 00:36:11,560 --> 00:36:13,880 Speaker 1: twenty two billion dollar program is not yet ready for 678 00:36:13,960 --> 00:36:18,280 Speaker 1: combat deployment. Despite progress since the contract was awarded in eighteen, 679 00:36:18,560 --> 00:36:21,239 Speaker 1: the Pentagon's test office said the system has not yet 680 00:36:21,239 --> 00:36:25,279 Speaker 1: demonstrated the capability to serve as a fighting Google and 681 00:36:25,440 --> 00:36:29,280 Speaker 1: Pablo meet crypto airs of artists. Pablo Picasso are vaulting 682 00:36:29,280 --> 00:36:31,920 Speaker 1: into twenty first century commerce by selling more than a 683 00:36:31,960 --> 00:36:34,680 Speaker 1: thousand digital art pieces of one of his ceramic works 684 00:36:34,680 --> 00:36:38,080 Speaker 1: that has never before been seen publicly. The families looking 685 00:36:38,120 --> 00:36:40,280 Speaker 1: at cash in on and ride a wave of interest 686 00:36:40,320 --> 00:36:42,840 Speaker 1: in so called non fungible tokens or n f t s, 687 00:36:43,239 --> 00:36:46,600 Speaker 1: which have netted millions for far less known artists and 688 00:36:46,719 --> 00:36:50,759 Speaker 1: been criticized by some as environmentally costly to get rich schemes. 689 00:36:51,239 --> 00:36:54,400 Speaker 1: And that's the Bloomberg n j I T STEM report 690 00:36:54,520 --> 00:36:58,080 Speaker 1: Nathan Okay Karen thanks rely from the Bloomberg Interactive Brokers 691 00:36:58,120 --> 00:37:00,680 Speaker 1: studios where it's six fifty two on walls street time 692 00:37:00,680 --> 00:37:02,400 Speaker 1: now to check what's going on in d C or are. 693 00:37:02,400 --> 00:37:04,960 Speaker 1: Some of the top stories include President Biden warning of 694 00:37:05,200 --> 00:37:09,640 Speaker 1: sanctions against Russian President Vladimir Putin if there's a Ukraine invasion, 695 00:37:10,080 --> 00:37:12,880 Speaker 1: the House unveiling a China and Chips bill paving the 696 00:37:12,880 --> 00:37:14,919 Speaker 1: way for a deal with the Senate, and a legal 697 00:37:14,920 --> 00:37:17,800 Speaker 1: advisor to former President Donald Trump losing a bid to 698 00:37:17,880 --> 00:37:22,120 Speaker 1: block of January six subpoena. Also making news just this morning, 699 00:37:22,160 --> 00:37:25,200 Speaker 1: top Senate democrats pushing the President to revive the child 700 00:37:25,320 --> 00:37:28,240 Speaker 1: tax credit. Let's get more now from Bloomberg Government reporter 701 00:37:28,280 --> 00:37:32,520 Speaker 1: Emily Wilkins joining us from the Nation's capital. So negotiations 702 00:37:32,560 --> 00:37:36,640 Speaker 1: over build back better continue even during the congressional recess Emily, 703 00:37:37,880 --> 00:37:41,000 Speaker 1: Oh yeah, I mean this is something that's certainly the 704 00:37:41,040 --> 00:37:43,640 Speaker 1: White Houses continuing to work on while make Earth are 705 00:37:43,640 --> 00:37:46,040 Speaker 1: continuing to think about. And it's really the next big 706 00:37:46,080 --> 00:37:50,839 Speaker 1: item um on for some Democrats on their agenda. Uh. 707 00:37:51,000 --> 00:37:54,600 Speaker 1: You have a number of Democratic lawmakers who wrote to 708 00:37:54,680 --> 00:37:57,600 Speaker 1: President Biden after he gave a speech the other day 709 00:37:57,800 --> 00:38:00,640 Speaker 1: on the bill where he kind of suggested that the 710 00:38:00,760 --> 00:38:04,200 Speaker 1: expanded child tax credit might not be included in a 711 00:38:04,239 --> 00:38:08,040 Speaker 1: final package. And these wallmakers wrote to Biden urging him 712 00:38:08,040 --> 00:38:11,080 Speaker 1: to make sure that it is. Uh. They've noted that 713 00:38:11,239 --> 00:38:14,680 Speaker 1: a number of families have really benefited from these payments, 714 00:38:15,320 --> 00:38:17,880 Speaker 1: help them pay for and help them put food on 715 00:38:17,920 --> 00:38:20,319 Speaker 1: the table for their kids. Uh. And they've called them 716 00:38:20,360 --> 00:38:24,280 Speaker 1: kind of this really critical critical piece. Uh. Democrats have already, 717 00:38:24,360 --> 00:38:27,280 Speaker 1: you know, run on and talked about these child tax credits, 718 00:38:27,680 --> 00:38:30,520 Speaker 1: but the mansions concerned with them is that they're just 719 00:38:30,600 --> 00:38:33,640 Speaker 1: too expansive at this point. Too many families are getting 720 00:38:33,680 --> 00:38:36,759 Speaker 1: the benefit. It's not as narrow as it should be. Now, 721 00:38:36,800 --> 00:38:39,880 Speaker 1: I see the President's economic agenda is on his own 722 00:38:40,200 --> 00:38:43,480 Speaker 1: White House agenda today. He's calling a bunch of business 723 00:38:43,480 --> 00:38:48,400 Speaker 1: executives to the White House today. Yeah, General Motors, Microsoft Corps, 724 00:38:48,920 --> 00:38:52,120 Speaker 1: Pension Giant, at t A. They're all gonna be coming 725 00:38:52,200 --> 00:38:54,640 Speaker 1: and they're gonna be talking about that bill, with the 726 00:38:54,680 --> 00:38:57,879 Speaker 1: Build Back Better Bill, the social policy and tax plan. 727 00:38:58,280 --> 00:39:00,839 Speaker 1: And part of the idea is just try to show 728 00:39:00,880 --> 00:39:03,840 Speaker 1: that there is momentum for within the business community. I 729 00:39:03,920 --> 00:39:08,239 Speaker 1: really try to urge Democrats to get this bill to 730 00:39:08,360 --> 00:39:11,399 Speaker 1: a point where they can move forward with it um. 731 00:39:11,520 --> 00:39:13,720 Speaker 1: Of course, you know the business leaders, they're not super 732 00:39:13,800 --> 00:39:16,960 Speaker 1: huge fans of of everything in the bill, uh, namely 733 00:39:17,040 --> 00:39:21,759 Speaker 1: those tax increases on corporations. But the message that we're 734 00:39:21,760 --> 00:39:24,319 Speaker 1: expecting to hear from them today is that there are 735 00:39:24,480 --> 00:39:27,160 Speaker 1: enough good other things in the bill that they believe 736 00:39:27,200 --> 00:39:30,880 Speaker 1: that their companies will ultimately benefit from it passing. But 737 00:39:30,960 --> 00:39:34,160 Speaker 1: of course, the geopolitics has still got to be top 738 00:39:34,160 --> 00:39:37,400 Speaker 1: of mind for President Biden, particularly when he was asked 739 00:39:37,440 --> 00:39:41,000 Speaker 1: about it yesterday, about the possibility of sanctions against Russian 740 00:39:41,000 --> 00:39:47,000 Speaker 1: President Vladimir Putin. Yes, so, Biden's Uh, We're still don't 741 00:39:47,080 --> 00:39:50,480 Speaker 1: have perfect clarity about what, if any, what sanctions the 742 00:39:50,560 --> 00:39:53,279 Speaker 1: US and its allies would put on Russia shouldn't in 743 00:39:53,360 --> 00:39:56,520 Speaker 1: Dave Ukraine. But Biden say yesterday that one thing that 744 00:39:56,640 --> 00:39:59,920 Speaker 1: is on the table is personally sanctioned Vladimir Putin if 745 00:40:00,160 --> 00:40:04,520 Speaker 1: offers an invasion. We've seen reporting that they could potentially 746 00:40:04,600 --> 00:40:08,759 Speaker 1: put sanctions on on him, on his girlfriend or rather 747 00:40:08,840 --> 00:40:13,879 Speaker 1: alleged girlfriend. UH. Kremlin spokesman said that any sanctions could 748 00:40:13,880 --> 00:40:16,720 Speaker 1: be politically destructive for the signal that they would said, 749 00:40:16,880 --> 00:40:20,960 Speaker 1: but since they would not financially harm Putin, who under 750 00:40:21,000 --> 00:40:25,000 Speaker 1: Russian law as banned from having foreign investments, so interesting 751 00:40:25,080 --> 00:40:29,279 Speaker 1: to see how in what ways personal sanctions might wind 752 00:40:29,320 --> 00:40:33,000 Speaker 1: up impacting him. Back on Capitol Hill, Emily, we're seeing 753 00:40:33,080 --> 00:40:35,560 Speaker 1: some of I think it's safe to say long awaited 754 00:40:35,600 --> 00:40:41,320 Speaker 1: movement from the House on a China Competitiveness and Chips bill. Yeah. 755 00:40:41,400 --> 00:40:45,600 Speaker 1: The Senate pass their version of this bill back in June, UH, 756 00:40:45,800 --> 00:40:48,239 Speaker 1: which is interesting because usually it's much harder to get 757 00:40:48,280 --> 00:40:51,080 Speaker 1: stuff through the Senate. But the House, you saw some 758 00:40:51,160 --> 00:40:54,440 Speaker 1: disagreement among Democrats about how they should be moving forward 759 00:40:54,480 --> 00:40:58,040 Speaker 1: with this legislation. UH. That's trying to design the US 760 00:40:58,080 --> 00:41:01,240 Speaker 1: to better compete with China, and in fifty two billion 761 00:41:01,280 --> 00:41:05,719 Speaker 1: dollars and grants and incentives for a semi conductors, a 762 00:41:05,840 --> 00:41:08,320 Speaker 1: sort of a nod at the current chip shortage that 763 00:41:08,440 --> 00:41:12,000 Speaker 1: the US it's facing. Um and there is uh the 764 00:41:12,040 --> 00:41:14,640 Speaker 1: attarants that make this the next big thing on the 765 00:41:14,719 --> 00:41:18,520 Speaker 1: House Democrats agenda. The idea is that the House will 766 00:41:18,560 --> 00:41:20,799 Speaker 1: debate this film and if they pass it, then they'll 767 00:41:20,840 --> 00:41:23,160 Speaker 1: go to conference with the Senate and come out with 768 00:41:23,400 --> 00:41:26,480 Speaker 1: with legislation. UM. The housepital doesn't look quite like the 769 00:41:26,560 --> 00:41:30,520 Speaker 1: Senate bill. It is definitely more partisan. Uh So it's 770 00:41:30,560 --> 00:41:33,640 Speaker 1: a question of whether it will see much Republican support 771 00:41:33,760 --> 00:41:38,120 Speaker 1: for it. And there's also some concern for progressive over 772 00:41:38,239 --> 00:41:41,439 Speaker 1: this bill, Um saying that it would lead to more 773 00:41:41,680 --> 00:41:44,840 Speaker 1: U s China antagonism if it was passed. So a 774 00:41:44,960 --> 00:41:48,040 Speaker 1: lot more work to come in conference committees. It sounds 775 00:41:48,080 --> 00:41:51,760 Speaker 1: like on Capitol Hill. Bloomberg Government reporter Emily Wilkins, as always, 776 00:41:51,920 --> 00:41:54,839 Speaker 1: thanks for the update from the nation's capital. Read more 777 00:41:54,840 --> 00:41:57,160 Speaker 1: about all these stories on Bloomberg dot com or on 778 00:41:57,200 --> 00:42:00,320 Speaker 1: the Bloomberg terminal, and listen to Bloomberg Radio in one Shington, 779 00:42:00,360 --> 00:42:04,320 Speaker 1: Bloomberg and one oh five point seven FM h D 780 00:42:04,480 --> 00:42:06,400 Speaker 1: two is Of course, all eyes are going to be 781 00:42:06,520 --> 00:42:09,480 Speaker 1: on the nation's capitol this afternoon as the Federal Open 782 00:42:09,560 --> 00:42:12,759 Speaker 1: Market Committee comes out with its January policy decision set 783 00:42:12,840 --> 00:42:16,560 Speaker 1: for two pm. Wall Street Time Chairman Powell's press conference 784 00:42:16,600 --> 00:42:19,200 Speaker 1: at two thirty. We will have full coverage for you 785 00:42:19,239 --> 00:42:21,520 Speaker 1: in a special edition of Bloomberg Surveillance that begins at 786 00:42:21,560 --> 00:42:24,719 Speaker 1: one thirty this afternoon right here on Bloomberg Radio and 787 00:42:25,000 --> 00:42:29,960 Speaker 1: on Bloomberg Television. Meantime, futures continue to surge. SMP futures 788 00:42:30,000 --> 00:42:32,399 Speaker 1: are up sixty six points, staff futures up three into 789 00:42:32,480 --> 00:42:36,080 Speaker 1: eighty five points, and NASTAC futures are higher by three 790 00:42:36,200 --> 00:42:39,880 Speaker 1: hundred three points. The daily edition of Bloomberg Surveillance is 791 00:42:40,000 --> 00:42:43,239 Speaker 1: next with Tom Keene, Jonathan Farroll, and Lisa Brahmowitz for 792 00:42:43,320 --> 00:42:46,440 Speaker 1: Karen Moscow. I'm Nathan Hagar. This is Bloomberg