1
00:00:01,680 --> 00:00:05,039
Speaker 1: Live from the Bloomberg Interactive Burgers studios. This is is Bloomberg

2
00:00:05,160 --> 00:00:08,440
Speaker 1: day Break for a Monday, August twenty second two Coming

3
00:00:08,520 --> 00:00:11,239
Speaker 1: up this hour, stock futures fall ahead of the key

4
00:00:11,320 --> 00:00:14,840
Speaker 1: FED symposium in Jackson Hole. Can your treasury yields approach

5
00:00:14,880 --> 00:00:17,480
Speaker 1: three percent? As traitors bet? J Powell and the Fed

6
00:00:17,560 --> 00:00:20,959
Speaker 1: will continue their hawkish stance, and President Biden speaks with

7
00:00:21,000 --> 00:00:24,640
Speaker 1: European leaders about reviving a nuclear deal with Iran. New

8
00:00:24,720 --> 00:00:27,360
Speaker 1: York City confirms a case of monkey box and someone

9
00:00:27,480 --> 00:00:30,080
Speaker 1: under the age of eighteen plus a car bomb has

10
00:00:30,160 --> 00:00:32,920
Speaker 1: killed the daughter of a prominent ally of Vladimir Putin.

11
00:00:33,159 --> 00:00:35,960
Speaker 1: Michael larn More ahead, I'm John stas Shower and swards.

12
00:00:36,000 --> 00:00:38,479
Speaker 1: An amazing win for the met a much needed one

13
00:00:38,520 --> 00:00:41,040
Speaker 1: for the Yankees. The Subway series begins tonight. The Giants

14
00:00:41,040 --> 00:00:46,440
Speaker 1: won their preseason game. That's all trading ahead on Bloomberg

15
00:00:46,479 --> 00:00:51,560
Speaker 1: Daybreak on Bloomberg eleven three, on New York, Bloomberg one, Washington,

16
00:00:51,680 --> 00:00:55,280
Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine

17
00:00:55,320 --> 00:00:59,640
Speaker 1: sixties and Francisco Sirius XM one nineteen and around the

18
00:00:59,680 --> 00:01:03,360
Speaker 1: world on Bloomberg Radio dot Com and Yo Bloomberg Business.

19
00:01:07,400 --> 00:01:10,240
Speaker 1: Good morning. I'm Nathan Hagar and I'm Karen Moscow. U

20
00:01:10,360 --> 00:01:13,160
Speaker 1: Stock index futures are falling this morning. We're coming up

21
00:01:13,200 --> 00:01:14,840
Speaker 1: to six oh one on Wall Street. I mean check

22
00:01:14,880 --> 00:01:17,839
Speaker 1: the markets every fifteen minutes throughout the trading day. On Bloomberg,

23
00:01:17,840 --> 00:01:20,600
Speaker 1: I guess and P futures down forty nine points down,

24
00:01:20,640 --> 00:01:23,120
Speaker 1: futures down three hundred seven, NAZ day futures down a

25
00:01:23,240 --> 00:01:26,759
Speaker 1: hundred can attend. Your treasury is of three thirties seconds

26
00:01:26,800 --> 00:01:29,039
Speaker 1: held two point nine six percent. They yield on the

27
00:01:29,080 --> 00:01:32,280
Speaker 1: two year three point to seven percent, and I'm ex screwed.

28
00:01:32,319 --> 00:01:35,000
Speaker 1: Oil is down nine tenths of a percent, Nathan, Karen,

29
00:01:35,040 --> 00:01:37,600
Speaker 1: it's all about the Fed this week. The annual Jackson

30
00:01:37,640 --> 00:01:41,080
Speaker 1: Hole Symposium begins Thursday, and FED Chair J Powell may

31
00:01:41,160 --> 00:01:44,280
Speaker 1: use his speech on Friday to push back on speculation

32
00:01:44,319 --> 00:01:48,040
Speaker 1: that interest rates will fall in benchmark ten. Your treasury

33
00:01:48,120 --> 00:01:50,400
Speaker 1: yields came within a whisker of three percent, with traders

34
00:01:50,440 --> 00:01:53,480
Speaker 1: betting the policymakers will double down on their hawkey Is stance.

35
00:01:53,760 --> 00:01:57,280
Speaker 1: Sylvia Jablonski is co founder of Defiant CTFs. You know

36
00:01:57,320 --> 00:02:00,360
Speaker 1: what I would expect is that you know kind followus

37
00:02:00,360 --> 00:02:02,840
Speaker 1: to what he's sort of been doing before, and you know,

38
00:02:02,880 --> 00:02:05,000
Speaker 1: we'll probably hang on every word and try to determine

39
00:02:05,000 --> 00:02:06,800
Speaker 1: whether or not we thought he was he was devilish

40
00:02:06,880 --> 00:02:09,080
Speaker 1: or whether he was he was hawkish. But you know,

41
00:02:09,400 --> 00:02:12,120
Speaker 1: the message we've been getting is very much it depends

42
00:02:12,160 --> 00:02:15,360
Speaker 1: on the data to find ZTF Silviage Oblonski does not

43
00:02:15,440 --> 00:02:17,520
Speaker 1: think the market will give a clear cut message from

44
00:02:17,520 --> 00:02:20,000
Speaker 1: the Fed. We of course, will have complete coverage of

45
00:02:20,040 --> 00:02:23,200
Speaker 1: the Jackson Hole Symposium. Bloomberg Surveillance will be their live

46
00:02:23,280 --> 00:02:27,280
Speaker 1: beginning Thursday with Tom Keene, Lisa Bramwo Woods, and Jonathan Farrell.

47
00:02:27,560 --> 00:02:29,800
Speaker 1: Well Nathan, the Fed is still on a collision course

48
00:02:29,800 --> 00:02:32,400
Speaker 1: with financial markets. According to the latest m l i

49
00:02:32,480 --> 00:02:35,280
Speaker 1: V Pulse survey, stocks and bonds are set to tumble

50
00:02:35,400 --> 00:02:38,720
Speaker 1: once more, even though inflation is likely piked. Eighty four

51
00:02:38,800 --> 00:02:41,120
Speaker 1: percent of respondence in the survey say it may take

52
00:02:41,200 --> 00:02:43,480
Speaker 1: two years or longer for the Fed to bring inflation

53
00:02:43,560 --> 00:02:46,200
Speaker 1: down to its official long term target of two percent.

54
00:02:46,520 --> 00:02:48,639
Speaker 1: Well Wall Street's focus will be on the Fed this week,

55
00:02:48,680 --> 00:02:50,640
Speaker 1: kar and we'll still get a number of earnings reports

56
00:02:50,639 --> 00:02:53,120
Speaker 1: from tech companies, and we get a preview from Bloomberg's

57
00:02:53,160 --> 00:02:56,960
Speaker 1: Charlie Pellett. Those tech names this week will include Autodesk,

58
00:02:57,200 --> 00:03:00,480
Speaker 1: dell Into its sales for Snowflake and v M. Where

59
00:03:00,760 --> 00:03:04,160
Speaker 1: questions abound about the outlook for corporate earnings given Federal

60
00:03:04,200 --> 00:03:08,360
Speaker 1: Reserve efforts to quell inflation with higher interest rates. Alan

61
00:03:08,480 --> 00:03:12,320
Speaker 1: Zaffron Is co CEO at I e Q capital earnings

62
00:03:12,360 --> 00:03:15,160
Speaker 1: aren't as bad as people fear. Inflation is starting to

63
00:03:15,200 --> 00:03:19,320
Speaker 1: come down. You have a remarkably over sold short term

64
00:03:19,480 --> 00:03:23,560
Speaker 1: technical condition and if you do read the chartists and

65
00:03:23,680 --> 00:03:26,600
Speaker 1: technical analysts are up there, they'll tell you that the

66
00:03:26,680 --> 00:03:30,480
Speaker 1: set up right now is for a continuation of this rally.

67
00:03:30,639 --> 00:03:34,320
Speaker 1: Also reporting this week, Dollar General, Dollar Tree, and Zoom

68
00:03:34,480 --> 00:03:39,480
Speaker 1: Video Communications in New York, Charlie Bloomberg Daybreak, Rich Earlie

69
00:03:39,480 --> 00:03:42,920
Speaker 1: Thanks in Asia, Chinese banks have cut their loan prime rates,

70
00:03:42,920 --> 00:03:46,240
Speaker 1: and Bloomberry Daybreak Asia anchor Brian Curtis as Moore from

71
00:03:46,240 --> 00:03:48,960
Speaker 1: Hong Kong. The one year rate was lower just five

72
00:03:49,000 --> 00:03:51,960
Speaker 1: basis points to three point six five percent. The five

73
00:03:52,040 --> 00:03:55,400
Speaker 1: year rate, a reference for mortgages, was cut fifteen basis

74
00:03:55,440 --> 00:03:58,360
Speaker 1: points to four point three percent. The rate cuts following

75
00:03:58,360 --> 00:04:01,120
Speaker 1: news on Friday of additional five nancing to prop up

76
00:04:01,160 --> 00:04:05,080
Speaker 1: the real estate sector. Chinese developer stocks jumped in Hong Kong.

77
00:04:05,440 --> 00:04:08,040
Speaker 1: It comes as the economy faces pressure on a number

78
00:04:08,080 --> 00:04:11,640
Speaker 1: of fronts. In the maintime, authorities have extended power cuts

79
00:04:11,680 --> 00:04:16,200
Speaker 1: in Sichuan Province. They've activated the highest emergency response in

80
00:04:16,279 --> 00:04:19,719
Speaker 1: Hong Kong. Brian Curtis Sloomberg Gabrie Brian thanks oils following

81
00:04:19,760 --> 00:04:22,440
Speaker 1: this morning, down nine tenths per cent or seventy seven

82
00:04:22,480 --> 00:04:25,240
Speaker 1: cents to ninety dollars of Barrel West Texas Intermediate as

83
00:04:25,279 --> 00:04:28,400
Speaker 1: negotiations move forward to revive a nuclear deal with Iran.

84
00:04:28,520 --> 00:04:32,120
Speaker 1: Details from Ami Morris in our Bloomberg newsroom. In Washington,

85
00:04:32,400 --> 00:04:35,159
Speaker 1: President Biden spoke with leaders from Germany, France, and the

86
00:04:35,279 --> 00:04:38,640
Speaker 1: UK for of the original signatories of the Iran nuclear deal,

87
00:04:38,680 --> 00:04:43,360
Speaker 1: which also include Russia and China. The four discussed ongoing negotiations.

88
00:04:43,440 --> 00:04:47,120
Speaker 1: Iran has released its response to the latest framework earlier

89
00:04:47,160 --> 00:04:49,480
Speaker 1: this month, and the US has state type lift on

90
00:04:49,560 --> 00:04:52,840
Speaker 1: its position. The e U took it as constructive. One

91
00:04:52,920 --> 00:04:56,760
Speaker 1: advisor to Iran's nuclear negotiating team says to Iran, once

92
00:04:56,839 --> 00:05:00,560
Speaker 1: the US penalized if it backs out again. In Washington,

93
00:05:00,640 --> 00:05:03,400
Speaker 1: I'm anymore. As Bloomberg Daybreak, right, Amy, thank you all.

94
00:05:03,440 --> 00:05:06,120
Speaker 1: Back in East Asia, the US and South Korea are

95
00:05:06,160 --> 00:05:09,120
Speaker 1: planning their biggest drill since North Korean leader Kim Jong

96
00:05:09,200 --> 00:05:12,159
Speaker 1: UN's summit with then President Donald Trump, and Bloomberg said

97
00:05:12,200 --> 00:05:15,400
Speaker 1: Baxter has that story, the biggest in about five years

98
00:05:15,440 --> 00:05:18,360
Speaker 1: because the Trump Kim summit apparently did not work and

99
00:05:18,520 --> 00:05:21,480
Speaker 1: enticing Kim John n to cut back on his nuclear programs.

100
00:05:21,880 --> 00:05:25,360
Speaker 1: The drills are called Bulchief Freedom Shield and are expected

101
00:05:25,400 --> 00:05:29,120
Speaker 1: to involve thousands of military personnel. The US and South

102
00:05:29,200 --> 00:05:33,279
Speaker 1: Korea say they're defensive in nature and will coordinate forces

103
00:05:33,320 --> 00:05:37,200
Speaker 1: to respond to the possible invasion by North Korea. An

104
00:05:37,240 --> 00:05:41,560
Speaker 1: angry response from the Kim regime is expected. In San Francisco,

105
00:05:41,600 --> 00:05:44,640
Speaker 1: I'm at Baxter, Bloomberg Daybreak, Thanks turning to corporate news

106
00:05:44,640 --> 00:05:47,760
Speaker 1: to takeover. Battle for Signify Health is heating up. In Bloomberg,

107
00:05:47,800 --> 00:05:50,880
Speaker 1: Grunita Young has that storyline, Good morning Granita, good morning Nathin.

108
00:05:51,000 --> 00:05:55,040
Speaker 1: Sources say Amazon dot Com, United Health, CVS Health, and

109
00:05:55,200 --> 00:05:58,839
Speaker 1: option care Health are all buying to acquire signify Health.

110
00:05:59,200 --> 00:06:02,360
Speaker 1: United healthsmitted the highest bid at more than thirty dollars

111
00:06:02,360 --> 00:06:06,280
Speaker 1: a share, while Amazon's offer is close behind. Signify closed

112
00:06:06,320 --> 00:06:09,560
Speaker 1: above twenty one dollars on Friday, which values the company

113
00:06:09,600 --> 00:06:12,599
Speaker 1: at nearly five billion dollars. Now, none of the plans

114
00:06:12,600 --> 00:06:16,200
Speaker 1: are finalized yet, and the bidders plans could still change.

115
00:06:16,560 --> 00:06:21,279
Speaker 1: Signify could also always opt to remain independent. Sources still

116
00:06:21,279 --> 00:06:24,680
Speaker 1: Bloomberg That signifies holding a board meeting today to discuss

117
00:06:24,720 --> 00:06:27,160
Speaker 1: the bids. Live in New York. I'm gonna need a

118
00:06:27,200 --> 00:06:29,880
Speaker 1: young Bloomberg daybreak. Need to thank you. Get ready to

119
00:06:29,880 --> 00:06:33,200
Speaker 1: pay more for Tesla's self driving system. CEO Elon Musk

120
00:06:33,200 --> 00:06:36,120
Speaker 1: tweeted the price will rise three thousand dollars to fifteen

121
00:06:36,160 --> 00:06:38,960
Speaker 1: thousand in North America. The increased will take effect on

122
00:06:38,960 --> 00:06:41,960
Speaker 1: September five. It's his second price hyc for Tesla's self

123
00:06:42,080 --> 00:06:44,479
Speaker 1: driving this year. And finally, Karen, it was tough for

124
00:06:44,520 --> 00:06:47,000
Speaker 1: some Game of Thrones fans to enter the House of

125
00:06:47,000 --> 00:06:51,359
Speaker 1: the Dragon through HBO Max. The Fantasy Prequels debut episode

126
00:06:51,760 --> 00:06:55,200
Speaker 1: overwhelmed the streaming service last night. More than three thousand

127
00:06:55,200 --> 00:06:58,279
Speaker 1: outages were reported on down detector as of nine pm

128
00:06:58,279 --> 00:07:02,440
Speaker 1: Eastern time. HBO's parent company, Warner Brothers Discovery says some

129
00:07:02,560 --> 00:07:06,200
Speaker 1: viewers had trouble connecting to HBO Max through Amazon Fire

130
00:07:06,279 --> 00:07:10,240
Speaker 1: TV devices. SFP futures are down forty eight points right now,

131
00:07:10,240 --> 00:07:12,800
Speaker 1: down futures down there and at thirteen nastack futures are

132
00:07:12,800 --> 00:07:15,600
Speaker 1: lower by one d eighty nine points. Straight ahead, your

133
00:07:15,640 --> 00:07:19,960
Speaker 1: latest local headlines and a check of sports. This is Bloomberg.

134
00:07:22,880 --> 00:07:25,080
Speaker 1: It's how six oh seven on Wall Street still seventy

135
00:07:25,120 --> 00:07:27,040
Speaker 1: three degrees in Central Park. Is still dealing with that

136
00:07:27,120 --> 00:07:30,239
Speaker 1: accident westbound or southbound west Side Highway at a hundred

137
00:07:30,280 --> 00:07:32,680
Speaker 1: fifty eight. Michael Bars here with Morrow. What's going on

138
00:07:32,680 --> 00:07:34,480
Speaker 1: in New York and around the world. Michael, thank you

139
00:07:34,600 --> 00:07:37,120
Speaker 1: very much, Nathan, New York has its first confirmed case

140
00:07:37,160 --> 00:07:41,520
Speaker 1: of monkeypox in someone under the age of eighteen. Officials

141
00:07:41,560 --> 00:07:43,960
Speaker 1: from the New York Department of Health say the virus

142
00:07:44,080 --> 00:07:47,400
Speaker 1: was detected in a child or teenager living outside of

143
00:07:47,440 --> 00:07:50,880
Speaker 1: New York City. The virus is primarily spread through skin

144
00:07:51,040 --> 00:07:55,480
Speaker 1: to skin contact, and the majority of cases have affected

145
00:07:55,520 --> 00:07:58,480
Speaker 1: gay men, but it also has been detected and two

146
00:07:58,480 --> 00:08:02,320
Speaker 1: women outside New York's city and sixteen women living in

147
00:08:02,360 --> 00:08:05,559
Speaker 1: the city. With this new school year about to begin,

148
00:08:05,720 --> 00:08:09,680
Speaker 1: New York City schools say they have not yet received

149
00:08:09,720 --> 00:08:13,640
Speaker 1: any official guidance about monkey pocks. Meanwhile, starting today, an

150
00:08:13,640 --> 00:08:17,440
Speaker 1: additional three D sixty thousand vials a monkeypox vaccine will

151
00:08:17,480 --> 00:08:21,600
Speaker 1: be available nationwide. That's potentially enough vaccine for one point

152
00:08:21,600 --> 00:08:25,280
Speaker 1: eight million shots in arms. Using the Biden administration's new

153
00:08:25,320 --> 00:08:29,920
Speaker 1: approach to stretch limited supplies. In Kansas City, Missouri, health

154
00:08:29,960 --> 00:08:34,080
Speaker 1: official Scott Clarty is addressing privacy concerns. The city now

155
00:08:34,160 --> 00:08:36,640
Speaker 1: has an online survey to help identify people who may

156
00:08:36,720 --> 00:08:39,959
Speaker 1: qualify for the vaccine. If you're concerned that you may

157
00:08:40,000 --> 00:08:44,240
Speaker 1: have been exposed to to to monkey poks, get online

158
00:08:44,440 --> 00:08:48,320
Speaker 1: fill out that form. Health official Scott Clarty says, according

159
00:08:48,360 --> 00:08:52,800
Speaker 1: to data, there are more than fourteen thousand monkeypox cases nationwide.

160
00:08:53,160 --> 00:08:56,640
Speaker 1: Republican Congresswoman Liz Cheney says that are focused now is

161
00:08:56,720 --> 00:09:00,600
Speaker 1: keeping former President Trump out of the White House. Following

162
00:09:00,600 --> 00:09:04,040
Speaker 1: her election loss, Cheney said that President Joe Biden phoned

163
00:09:04,080 --> 00:09:06,680
Speaker 1: her and they had a very good talk. Cheney spoke

164
00:09:06,720 --> 00:09:09,600
Speaker 1: to ABC just days after a primary loss in Wyoming.

165
00:09:09,960 --> 00:09:14,080
Speaker 1: No regrets, UM, you know, I I feel I feel

166
00:09:14,120 --> 00:09:17,280
Speaker 1: sad about where my party is. I feel sad about

167
00:09:17,320 --> 00:09:20,360
Speaker 1: the way that UM too many of my colleagues have

168
00:09:20,440 --> 00:09:23,720
Speaker 1: responded to what I think is a great moral test

169
00:09:23,840 --> 00:09:27,600
Speaker 1: and challenge of our time. Liz Cheney spoke on ABC's

170
00:09:27,679 --> 00:09:31,000
Speaker 1: This Week, which can be heard Sundays on Bloomberg. Ukrainian

171
00:09:31,000 --> 00:09:34,160
Speaker 1: officials are denying Russian allegations that they were behind the

172
00:09:34,200 --> 00:09:37,040
Speaker 1: car bomb attack that killed the daughter of a prominent

173
00:09:37,080 --> 00:09:41,280
Speaker 1: Vladimir Putin ally in Russia. Daria Dugina, the daughter of

174
00:09:41,320 --> 00:09:44,360
Speaker 1: a staunch supporter of the war, killed by a car

175
00:09:44,400 --> 00:09:48,920
Speaker 1: bomb near Moscow her father Alexander Duggan and ultra nationalists,

176
00:09:49,000 --> 00:09:52,360
Speaker 1: has been called Putin's Brain. Global News twenty four hours

177
00:09:52,400 --> 00:09:55,520
Speaker 1: a day on air and on Bloomberg Quick Take, powered

178
00:09:55,520 --> 00:09:58,040
Speaker 1: by more than twenty seven hundred journalists and analysts more

179
00:09:58,040 --> 00:10:00,880
Speaker 1: than twenty countries. I'm Michael barn The is Bloomberg, Nathan

180
00:10:00,960 --> 00:10:07,720
Speaker 1: Michael's thank you. Come up to six ten on Wall

181
00:10:07,760 --> 00:10:09,959
Speaker 1: Street Time for the Bloomberg Sports Up David John Stash

182
00:10:10,160 --> 00:10:12,839
Speaker 1: all Right, Nathan Subway series tonight. Mets won both games

183
00:10:12,920 --> 00:10:14,719
Speaker 1: last month at City Field. Now they played two in

184
00:10:14,760 --> 00:10:16,920
Speaker 1: the Bronx. No question who the hotter team is. The

185
00:10:16,960 --> 00:10:20,000
Speaker 1: Yankees did win yesterday, but it was just their fifth

186
00:10:20,000 --> 00:10:21,439
Speaker 1: win in the month of all this while the Mets,

187
00:10:21,480 --> 00:10:24,040
Speaker 1: who did lose three of four in Atlanta, one three

188
00:10:24,040 --> 00:10:27,040
Speaker 1: of four in Philadelphia and yesterday's win amazing. They had

189
00:10:27,080 --> 00:10:29,760
Speaker 1: to start a rookie Jose Buddha. He served up two

190
00:10:30,200 --> 00:10:32,439
Speaker 1: three run homers to the Phillies Alley Bone on the

191
00:10:32,480 --> 00:10:35,160
Speaker 1: Mets trail port nothing later seven to four, Mark Canna

192
00:10:35,520 --> 00:10:38,360
Speaker 1: to the rescue, gain time three one homer, seventh and

193
00:10:38,480 --> 00:10:40,480
Speaker 1: and then Canna came up with a night with the

194
00:10:40,559 --> 00:10:44,800
Speaker 1: Mets trailing by Iran Robertson delivers Swingingna tried will hit

195
00:10:44,880 --> 00:10:49,880
Speaker 1: to left docs gay Tom che God, do you believe this?

196
00:10:51,200 --> 00:10:54,360
Speaker 1: Don it again? They take the lead. Mark Canna with

197
00:10:54,480 --> 00:10:57,960
Speaker 1: his arms raised over his head between first and second

198
00:10:58,160 --> 00:11:00,520
Speaker 1: as he roused the face, then received BS to call

199
00:11:00,559 --> 00:11:03,560
Speaker 1: them that's one. Ten to nine. Yankees finally beat Toronto

200
00:11:03,640 --> 00:11:05,840
Speaker 1: with the stadium four to two to avoid the Blue

201
00:11:05,920 --> 00:11:09,400
Speaker 1: Jays four games. Finally, clutch head. It came from Andrew

202
00:11:09,440 --> 00:11:11,800
Speaker 1: Benn and Tendy, who's been quiet since the arrival from

203
00:11:11,840 --> 00:11:14,760
Speaker 1: Kansas City. His first Yankee home run game winning two

204
00:11:14,840 --> 00:11:17,280
Speaker 1: run shot seven that in the win to Lou Trevino

205
00:11:17,720 --> 00:11:19,880
Speaker 1: and other recent pick up. He got the last seven

206
00:11:19,920 --> 00:11:23,760
Speaker 1: outs the subway series pitching matchups favor the Mets, Max Scherzer,

207
00:11:23,840 --> 00:11:25,760
Speaker 1: Jos Tonight and Jake could be grown Tomorrow. I met

208
00:11:25,840 --> 00:11:28,720
Speaker 1: Life the Giants third string quarterback Davis Webb rally Big

209
00:11:28,760 --> 00:11:33,079
Speaker 1: Blue two preseason win over Cincinnati's Web through two fourth

210
00:11:33,160 --> 00:11:36,240
Speaker 1: quarter touchdown passes, met Life Tonight Jets in the Atlanta Falcons.

211
00:11:36,520 --> 00:11:39,240
Speaker 1: Patrick Cantley won the golf in Delaware for the second

212
00:11:39,280 --> 00:11:43,520
Speaker 1: straight year. John Stashytward Bloomberg Sports Nathome okay, John, thank you.

213
00:11:43,840 --> 00:11:46,400
Speaker 1: SMP future is now down forty five point. Staff futures

214
00:11:46,440 --> 00:11:48,480
Speaker 1: down two D ninety one. Nest A features are lower

215
00:11:48,520 --> 00:11:51,240
Speaker 1: by a hundred seventy nine points. Send your treasuries up

216
00:11:51,280 --> 00:11:54,160
Speaker 1: one thirty second. The yield two point nine six six

217
00:11:54,520 --> 00:11:59,280
Speaker 1: per cent. We preview Jackson Hole next with Bloomberg Global Economics,

218
00:11:59,360 --> 00:12:07,959
Speaker 1: corresponding Michael McKee. Stay with us. This is Bloomberg Bloomberg

219
00:12:07,960 --> 00:12:10,320
Speaker 1: eleventh three. Weather. Lots of clouds today, some scattered showers,

220
00:12:10,400 --> 00:12:13,560
Speaker 1: thunderstorms behind your seventy five partly sunny, Maybe a few

221
00:12:13,600 --> 00:12:16,760
Speaker 1: scattered showers tomorrow. Pin your eighty five degrees sunny in

222
00:12:16,760 --> 00:12:22,480
Speaker 1: your ninety Wednesday right now, seventy three in Central Park markets,

223
00:12:22,640 --> 00:12:25,679
Speaker 1: headlines and breaking news twenty four hours a day at

224
00:12:25,720 --> 00:12:29,119
Speaker 1: Bloomberg dot Com, The Bloomberg Business at and at Bloomberg

225
00:12:29,200 --> 00:12:38,240
Speaker 1: Quick Tape. This is a Bloomberg Business Flash and I'm

226
00:12:38,320 --> 00:12:41,599
Speaker 1: Karen Moscow. Stocks in Europe are rich treating along with

227
00:12:41,720 --> 00:12:44,920
Speaker 1: US stok indext futures futures as the federal reserves commitment

228
00:12:44,960 --> 00:12:47,360
Speaker 1: to tighter monetary settings and worries about the effect on

229
00:12:47,440 --> 00:12:50,520
Speaker 1: economic growth way on investors sentiment. We checked the markets

230
00:12:50,559 --> 00:12:53,520
Speaker 1: every fifteen minutes throughout the trading day on Bloomberg S

231
00:12:53,559 --> 00:12:56,200
Speaker 1: and P futures down to forty six points down, futures

232
00:12:56,240 --> 00:12:59,200
Speaker 1: down to utter and nastday futures down a hundred eighty.

233
00:12:59,480 --> 00:13:01,280
Speaker 1: The decks in Germany is down about one and a

234
00:13:01,360 --> 00:13:04,160
Speaker 1: half percent. Ten year treasury up one thirty second yeld

235
00:13:04,160 --> 00:13:06,640
Speaker 1: two point nine six percent. They yield on the two

236
00:13:06,760 --> 00:13:09,960
Speaker 1: year three point to eight percent. Nine Max fruit oil

237
00:13:10,080 --> 00:13:12,240
Speaker 1: is down about seven tenths per cent or sixty one

238
00:13:12,280 --> 00:13:15,520
Speaker 1: cents at ninety dollar sixteen cents a barrel. Comex gold

239
00:13:15,600 --> 00:13:17,920
Speaker 1: is down eight tenths percent or fourteen dollars twenty cents

240
00:13:17,920 --> 00:13:21,400
Speaker 1: at seventeen forty eight sixty announce. The Euro is at

241
00:13:21,440 --> 00:13:24,240
Speaker 1: one point zero zero one two against the dollar, the

242
00:13:24,320 --> 00:13:27,840
Speaker 1: yen one six point nine zero, and Bitcoin this morning

243
00:13:27,960 --> 00:13:30,240
Speaker 1: is down about one and a half percent at twenty

244
00:13:30,320 --> 00:13:33,600
Speaker 1: one thousand, one hundred fifty dollars. Game Stop and bed

245
00:13:33,679 --> 00:13:36,000
Speaker 1: Bath and Beyond are leading to clients and meme stocks

246
00:13:36,040 --> 00:13:39,480
Speaker 1: This morning has the latest frenzy and the shares loses esteem.

247
00:13:39,559 --> 00:13:41,240
Speaker 1: Bed Bath and Beyond is down eight and a half

248
00:13:41,280 --> 00:13:45,440
Speaker 1: percent right now. We're also watching AMC Entertainment down thirty

249
00:13:45,520 --> 00:13:48,280
Speaker 1: four percent ahead of the debut of its new class

250
00:13:48,360 --> 00:13:50,839
Speaker 1: of shares and as a Bloomberg business flash. Now here's

251
00:13:50,880 --> 00:13:53,160
Speaker 1: Michael Barr with more on what's going on around the world.

252
00:13:53,280 --> 00:13:56,520
Speaker 1: Michael Karen, thank you very much. The White House, who

253
00:13:56,559 --> 00:13:59,640
Speaker 1: is saying During a joint phone call, the leaders of

254
00:13:59,760 --> 00:14:03,720
Speaker 1: the s UK, France and Germany discussed how to revive

255
00:14:03,800 --> 00:14:07,880
Speaker 1: the around nuclear deal. Previously, tehron had curbed it's nuclear

256
00:14:07,960 --> 00:14:12,280
Speaker 1: program exchange for relief from economic sensions. Ukrainian officials are

257
00:14:12,280 --> 00:14:14,760
Speaker 1: the nying Russian allegations that they were behind the car

258
00:14:14,880 --> 00:14:18,600
Speaker 1: bomb attack that killed the daughter of a prominent Vladimir Putinella.

259
00:14:19,080 --> 00:14:21,440
Speaker 1: In baseball, the Yankees beat the Blue Jays four to

260
00:14:21,640 --> 00:14:24,560
Speaker 1: the Mets beat the Phillies ten nine, The Orioles beat

261
00:14:24,560 --> 00:14:28,000
Speaker 1: the Red Sox five three, The Nationals lost, The A's

262
00:14:28,080 --> 00:14:32,320
Speaker 1: beat the Mariners five three, the Giants one NFL preseason yesterday,

263
00:14:32,400 --> 00:14:36,360
Speaker 1: the Giants and Ravens one. In golf, Patrick Kentley wins

264
00:14:36,400 --> 00:14:39,560
Speaker 1: the BMW Championship. Global News twenty four hours a day

265
00:14:39,600 --> 00:14:42,200
Speaker 1: on air and on Bloomberg Quickday, powered by more than

266
00:14:42,280 --> 00:14:45,480
Speaker 1: twenty seven hundred journalists analysts more than a hundred twenty countries.

267
00:14:45,640 --> 00:14:49,080
Speaker 1: I'm Michael Barr, and this is Bloomberg. Nathan. Okay, Michael,

268
00:14:49,120 --> 00:14:50,920
Speaker 1: thank you. We're coming up to six twenty on Wall

269
00:14:50,960 --> 00:14:53,840
Speaker 1: Street line from the Bloomberg Interactive Broker Studios. This is

270
00:14:53,960 --> 00:14:56,240
Speaker 1: Bloomberg Day Break. Let's get more now and what we

271
00:14:56,280 --> 00:14:59,360
Speaker 1: could expect from this week's Jackson Hole Symposium and that

272
00:14:59,560 --> 00:15:03,840
Speaker 1: speech from fed jaired FED chair j Powe. Bloomberg Economics

273
00:15:03,880 --> 00:15:07,400
Speaker 1: correspondent Michael McKee joins me now and um, Mike, I

274
00:15:07,440 --> 00:15:09,720
Speaker 1: don't know if we can say that we're seeing a

275
00:15:09,840 --> 00:15:13,120
Speaker 1: reset in market expectations of what the Fed could do

276
00:15:13,280 --> 00:15:17,640
Speaker 1: with interest rates, given where futures are going lower this morning,

277
00:15:17,760 --> 00:15:20,840
Speaker 1: But is that what we could expect from Chairman Powell,

278
00:15:20,880 --> 00:15:25,760
Speaker 1: a reset of market expectations. I think the uh, the

279
00:15:25,920 --> 00:15:28,640
Speaker 1: markets are hoping he will tell them something that can

280
00:15:29,240 --> 00:15:32,560
Speaker 1: help them to figure out where we're going and how

281
00:15:32,640 --> 00:15:35,320
Speaker 1: fast we're going to get there and therefore position for

282
00:15:35,840 --> 00:15:37,360
Speaker 1: But I'm not sure they're going to get what they're

283
00:15:37,400 --> 00:15:39,920
Speaker 1: looking for because it may be hard for Powell to

284
00:15:40,040 --> 00:15:43,800
Speaker 1: even figure that out. I think what the what we'll

285
00:15:43,840 --> 00:15:45,760
Speaker 1: see is a lot of volatility this week is trying

286
00:15:45,760 --> 00:15:49,440
Speaker 1: to people try to read into various economic indicators whether

287
00:15:49,520 --> 00:15:52,640
Speaker 1: there's good news or bad news coming. But Paula's position

288
00:15:52,760 --> 00:15:55,840
Speaker 1: hasn't changed a whole lot, and nor has the Feds.

289
00:15:55,880 --> 00:15:58,360
Speaker 1: They believe they're going to have to keep raising rates

290
00:15:58,440 --> 00:16:00,680
Speaker 1: to a certain point and stay air for a while,

291
00:16:00,760 --> 00:16:03,120
Speaker 1: where the market thinks that they'll raise rates a little

292
00:16:03,160 --> 00:16:06,360
Speaker 1: more and start cutting again. So that's the message he'll

293
00:16:06,400 --> 00:16:10,080
Speaker 1: deliver out. Uh. Larry Summers out this last Friday on

294
00:16:10,280 --> 00:16:13,000
Speaker 1: Wall Street Week with David Weston, saying that the Fed

295
00:16:13,160 --> 00:16:15,880
Speaker 1: should be honest and say, look, we're going to create

296
00:16:15,920 --> 00:16:18,760
Speaker 1: a recession. I'm not sure paul is going to go

297
00:16:18,920 --> 00:16:21,800
Speaker 1: that far. Yeah, I mean, we wouldn't. I mean, has

298
00:16:21,880 --> 00:16:24,720
Speaker 1: there ever been a time where a federal Reserve has

299
00:16:24,760 --> 00:16:29,840
Speaker 1: said that they expect and resentsially. Has that happened in history? No,

300
00:16:30,160 --> 00:16:32,800
Speaker 1: And I've I've liken this to like a football game

301
00:16:32,840 --> 00:16:34,560
Speaker 1: where the coach comes out at the beginning of the

302
00:16:34,600 --> 00:16:36,440
Speaker 1: game and says, we're gonna get killed today. We're really

303
00:16:36,480 --> 00:16:39,360
Speaker 1: gonna lose by a lot. That's not gonna happen. Um,

304
00:16:39,720 --> 00:16:44,280
Speaker 1: but Paul may, uh if if if he wants to

305
00:16:44,440 --> 00:16:47,320
Speaker 1: send that kind of a message, he may dance around

306
00:16:47,360 --> 00:16:50,400
Speaker 1: it by saying things like, um, you know, there's there's

307
00:16:50,400 --> 00:16:53,960
Speaker 1: going to be pain involved. We know that. And we've

308
00:16:54,040 --> 00:16:58,840
Speaker 1: seen some I guess gaming out of how long it's

309
00:16:58,880 --> 00:17:01,480
Speaker 1: going to take for the FED to get to its

310
00:17:01,720 --> 00:17:05,280
Speaker 1: too percent inflation target. We've got that m Live Pulse

311
00:17:05,359 --> 00:17:07,399
Speaker 1: survey out this morning that says it could take a

312
00:17:07,480 --> 00:17:11,800
Speaker 1: couple of years for inflation to get back to target.

313
00:17:11,960 --> 00:17:14,400
Speaker 1: I mean, is is there anything that markets could get

314
00:17:14,840 --> 00:17:18,720
Speaker 1: from the chairman on that score? How long they expect

315
00:17:18,800 --> 00:17:23,120
Speaker 1: the fight's gonna take. They've said it's likely to take

316
00:17:23,200 --> 00:17:26,960
Speaker 1: a couple of years. They're there. Economic projections released in

317
00:17:27,080 --> 00:17:31,199
Speaker 1: June don't have us getting back till about two five. Now,

318
00:17:31,640 --> 00:17:36,160
Speaker 1: the question is, uh, does anybody really have a good

319
00:17:36,400 --> 00:17:38,560
Speaker 1: idea how how long it's going to take, because this

320
00:17:38,680 --> 00:17:44,280
Speaker 1: is such an unusual UH inflationary trend, driven in large

321
00:17:44,359 --> 00:17:48,320
Speaker 1: part by coming out of the pandemic and then the war,

322
00:17:48,760 --> 00:17:50,359
Speaker 1: and we don't know what's going to happen with that

323
00:17:50,480 --> 00:17:53,240
Speaker 1: war in Ukraine. We don't know whether energy prices are

324
00:17:53,280 --> 00:17:55,680
Speaker 1: going to shoot up again, which would just make it

325
00:17:55,800 --> 00:17:59,320
Speaker 1: all the harder. We are seeing signs and use cars

326
00:17:59,480 --> 00:18:02,520
Speaker 1: and airfares and things like that that some of the

327
00:18:02,600 --> 00:18:05,399
Speaker 1: things that the Fed expected to be transitory were the

328
00:18:05,520 --> 00:18:08,880
Speaker 1: period was longer, but they are starting to go down.

329
00:18:09,520 --> 00:18:12,199
Speaker 1: So it's kind of hard for people to estimate how

330
00:18:12,280 --> 00:18:15,440
Speaker 1: long it's going to take and have a good UH

331
00:18:15,800 --> 00:18:19,840
Speaker 1: handle on that, which probably argues that J. Powell is

332
00:18:19,920 --> 00:18:22,879
Speaker 1: not going to give us a specific timeline other than

333
00:18:22,960 --> 00:18:25,320
Speaker 1: to say it will take a while. Since I think

334
00:18:25,400 --> 00:18:27,520
Speaker 1: I heard you bring up the T word again, Mike,

335
00:18:28,040 --> 00:18:32,879
Speaker 1: how much UH stock should markets take in what Powell

336
00:18:33,040 --> 00:18:36,320
Speaker 1: does say this week, given that when they held the

337
00:18:36,359 --> 00:18:40,560
Speaker 1: symposium last year, he brought out the word transitory and

338
00:18:40,640 --> 00:18:42,879
Speaker 1: he's now admitted that that turned out wrong. Got about

339
00:18:42,960 --> 00:18:44,840
Speaker 1: thirty seconds. Yeah, there are some people who think that

340
00:18:44,960 --> 00:18:47,200
Speaker 1: he's going to have a bit of a credibility problem.

341
00:18:47,320 --> 00:18:50,200
Speaker 1: I think people can take his words at face value.

342
00:18:50,680 --> 00:18:52,560
Speaker 1: The only thing is is, UH, We're going to have

343
00:18:52,600 --> 00:18:55,600
Speaker 1: a jobs report and a CPI report before the next

344
00:18:55,640 --> 00:18:58,320
Speaker 1: FIT meeting on September twenty one, and those will have

345
00:18:58,840 --> 00:19:01,120
Speaker 1: a major impact on what the FED does that day.

346
00:19:01,160 --> 00:19:03,760
Speaker 1: So I don't think you can leave jackson Hole saying

347
00:19:03,800 --> 00:19:06,640
Speaker 1: the fan is gonna do x ro y um September

348
00:19:06,720 --> 00:19:09,520
Speaker 1: twenty one. But I have an idea of the general trend,

349
00:19:10,000 --> 00:19:13,080
Speaker 1: and that sounds like that could be the message that

350
00:19:13,200 --> 00:19:16,720
Speaker 1: he sends that they just don't know where things could go,

351
00:19:16,920 --> 00:19:20,360
Speaker 1: given that there is so much more data between jackson

352
00:19:20,440 --> 00:19:23,439
Speaker 1: Hole and the next step MC meeting. Thanks for this, Mike,

353
00:19:23,480 --> 00:19:26,760
Speaker 1: great as always having on with us Bloomberg Economics correspondent

354
00:19:26,840 --> 00:19:30,520
Speaker 1: Michael McKee, And of course we will have full jackson

355
00:19:30,640 --> 00:19:33,440
Speaker 1: Hole coverage for you right here on Bloomberg Radio and

356
00:19:33,440 --> 00:19:36,960
Speaker 1: Bloomberg Television. Bloomberg Surveillance is going to be there starting

357
00:19:37,600 --> 00:19:41,200
Speaker 1: when the symposium kicks off on Thursday. Tom to Keene,

358
00:19:41,280 --> 00:19:44,160
Speaker 1: Jonathan Farrell, Liso, Bronwood's taking you all the way through

359
00:19:44,760 --> 00:19:48,440
Speaker 1: uh FED share Powell's speech coming up on Friday. The

360
00:19:49,320 --> 00:19:52,840
Speaker 1: Capra of Jackson Hole looking ahead to the market open

361
00:19:52,920 --> 00:19:55,920
Speaker 1: this morning. SMP futures are down forty six points, STAW

362
00:19:56,000 --> 00:19:58,560
Speaker 1: futures down two hundred ninety four, and NASTAC futures are

363
00:19:58,600 --> 00:20:03,200
Speaker 1: lowered by one two points. You're listening to Bloomberg Daybreak

364
00:20:07,320 --> 00:20:09,960
Speaker 1: Bloomberg eleven three oh weather clouds, some scattered showers and

365
00:20:10,000 --> 00:20:12,399
Speaker 1: thunderstorms high your seventy five Today, we'll get into the

366
00:20:12,400 --> 00:20:15,399
Speaker 1: mid eighties Tomorrow partly sunny with a few scattered showers

367
00:20:15,440 --> 00:20:19,200
Speaker 1: and thundershowers. Wednesday sunshine behind your ninety right now seventy

368
00:20:19,240 --> 00:20:25,919
Speaker 1: three degrees. Broadcasting live from the Bloomberg Interactive Broker's studio

369
00:20:26,080 --> 00:20:29,240
Speaker 1: in New York, Bloomberg in Freedom to Washington, d C.

370
00:20:29,440 --> 00:20:32,880
Speaker 1: Bloomberg ninety nine one to Boston, Bloomberg one on six

371
00:20:32,960 --> 00:20:36,159
Speaker 1: one to San Francisco, Bloomberg nine six to the country

372
00:20:36,280 --> 00:20:39,280
Speaker 1: Sirius XM Chado one nine team, and around the globe

373
00:20:39,359 --> 00:20:42,320
Speaker 1: to the Bloomberg Business app in Bloomberg Radio dot com.

374
00:20:42,800 --> 00:20:52,040
Speaker 1: This is Bloomberg Daybreak six thirty on Wall Street. Good morning.

375
00:20:52,080 --> 00:20:55,240
Speaker 1: I'm Nathan Hagar and I'm Karen Mosca. We're just about

376
00:20:55,280 --> 00:20:57,720
Speaker 1: three hours away from the open of US trading. Time

377
00:20:57,760 --> 00:20:59,920
Speaker 1: for the five things you need to notice start your day,

378
00:21:00,040 --> 00:21:03,280
Speaker 1: Brought to you by I d k R Investment Advisers

379
00:21:03,320 --> 00:21:06,399
Speaker 1: switched to interacted brokers for lowest cost global trading and

380
00:21:06,480 --> 00:21:10,200
Speaker 1: turnkey custody solutions, no ticket charges and no conflicts of

381
00:21:10,240 --> 00:21:12,879
Speaker 1: your interests at i vkr dot com slash r I

382
00:21:13,240 --> 00:21:17,800
Speaker 1: at first the Annual Jackson Hole Symposium against Thursday, and

383
00:21:17,840 --> 00:21:20,159
Speaker 1: we'll hear from Federal Reserve Chair j Powell and a

384
00:21:20,240 --> 00:21:23,920
Speaker 1: speech Friday. Bloomberry's Viney Down. Judas has a preview the

385
00:21:24,000 --> 00:21:27,480
Speaker 1: FED chairs battling inflation after the central bank fumbled at

386
00:21:27,560 --> 00:21:30,359
Speaker 1: the onset of the worst price surge in decades. Bloombrig

387
00:21:30,400 --> 00:21:33,919
Speaker 1: Economics as Powell attempt to steady the message on interest

388
00:21:34,040 --> 00:21:37,240
Speaker 1: rates in his talk at Jackson Hall and dissuade Wall

389
00:21:37,320 --> 00:21:39,840
Speaker 1: Street that the Fed is made a devilish pivot by

390
00:21:39,920 --> 00:21:42,320
Speaker 1: signaling the Central Bank is far from done in this

391
00:21:42,520 --> 00:21:45,560
Speaker 1: year's tightening campaign. So far, the Feed is lifted its

392
00:21:45,600 --> 00:21:48,560
Speaker 1: benchmark rate from near zero to two point five percent.

393
00:21:49,560 --> 00:21:51,840
Speaker 1: Judais Bloomberg day break. All right, Vinny, thanks, so we'll

394
00:21:51,840 --> 00:21:55,200
Speaker 1: have complete cabage at the Jackson Hole Symposium Bloomberg surveillance

395
00:21:55,280 --> 00:21:58,080
Speaker 1: will be their live overseas careen Chinese banks to cut

396
00:21:58,119 --> 00:22:00,480
Speaker 1: their loan prime rates as Beijing pledge is to offer

397
00:22:00,520 --> 00:22:03,920
Speaker 1: developers more financing. Hi Chen is head of investment strategy

398
00:22:03,960 --> 00:22:06,440
Speaker 1: at High Tong International. I think we already reached a

399
00:22:06,480 --> 00:22:08,399
Speaker 1: point that a central government really need to step in

400
00:22:08,600 --> 00:22:10,680
Speaker 1: and announcement over the week on the pottest banks, this

401
00:22:10,720 --> 00:22:12,879
Speaker 1: executive good star. I think that really need to provide

402
00:22:12,920 --> 00:22:15,760
Speaker 1: a backstop. High Chen with High Tong International says markets

403
00:22:15,760 --> 00:22:17,720
Speaker 1: want to see how the Chinese government will prop up

404
00:22:17,800 --> 00:22:21,520
Speaker 1: it's struggling property space. Nathan A geopolitical note in Asia,

405
00:22:21,560 --> 00:22:24,280
Speaker 1: the US and South Korea are planning their biggest military

406
00:22:24,520 --> 00:22:27,600
Speaker 1: move since North Korean leader Kim Jong on summit, but

407
00:22:27,680 --> 00:22:30,000
Speaker 1: then President Donald Trump. In corporate news, care in the

408
00:22:30,040 --> 00:22:33,040
Speaker 1: takeover battle for signify Health is heating up. In Bloomberg's

409
00:22:33,040 --> 00:22:35,240
Speaker 1: renied A Young joins US Live with that Good morning, Nita,

410
00:22:35,280 --> 00:22:38,480
Speaker 1: Good morning, Nathan. Sources say Amazon dot Com, United Health,

411
00:22:38,600 --> 00:22:41,399
Speaker 1: CVS Health, and option Care Health are all buying to

412
00:22:41,520 --> 00:22:45,240
Speaker 1: acquire signify Health. United Health submitted the highest bid at

413
00:22:45,280 --> 00:22:48,560
Speaker 1: more than thirty dollars a share, while Amazon's offers close behind.

414
00:22:48,960 --> 00:22:52,320
Speaker 1: Signify closed above twenty one dollars on Friday, which values

415
00:22:52,400 --> 00:22:55,480
Speaker 1: the company at nearly five billion dollars. Now, none of

416
00:22:55,520 --> 00:22:58,600
Speaker 1: the plans are finalized yet and bidders plans could still change,

417
00:22:58,840 --> 00:23:02,160
Speaker 1: and Signified could always opted to remain independent. Sources tell

418
00:23:02,200 --> 00:23:04,960
Speaker 1: Bloomberg that Signify is holding a board meeting today to

419
00:23:05,080 --> 00:23:07,639
Speaker 1: discuss the bids. Live in New York. I'm gonna need

420
00:23:07,680 --> 00:23:10,000
Speaker 1: a young Bloomberg day break, all right, needed? Thanks Oil.

421
00:23:10,080 --> 00:23:12,760
Speaker 1: Following this morning, nim Ex screwed oil is down a

422
00:23:12,840 --> 00:23:15,160
Speaker 1: tenth of a percent. It's at ninety dollars sixty five

423
00:23:15,240 --> 00:23:17,600
Speaker 1: cents of barrel. It's done about twelve cents, and Brent

424
00:23:17,760 --> 00:23:20,280
Speaker 1: is at ninety six dollars fifty two cents. It comes

425
00:23:20,280 --> 00:23:23,440
Speaker 1: as negotiations move forward to revive a nuclear deal with

426
00:23:23,520 --> 00:23:25,760
Speaker 1: the Iran. That's the five things that you need to

427
00:23:25,800 --> 00:23:28,760
Speaker 1: notice start your day. Brought to you by Interact, your

428
00:23:28,800 --> 00:23:32,399
Speaker 1: brokers and straight Ahead, your latest local headlines plus the

429
00:23:32,480 --> 00:23:39,040
Speaker 1: check of sports. This is Bloomberg. I thank you. Hearing

430
00:23:39,080 --> 00:23:41,200
Speaker 1: six thirty three on Wall Street, seventy three degrees in

431
00:23:41,240 --> 00:23:43,840
Speaker 1: Central Park. Gotta crash. He's found six near Route nine.

432
00:23:43,960 --> 00:23:46,600
Speaker 1: Details coming up in traffic. First, Michael Barr with what

433
00:23:46,680 --> 00:23:48,600
Speaker 1: else is going on in New York and around the world.

434
00:23:48,680 --> 00:23:51,600
Speaker 1: Good morning, Michael, Good morning Nathan. New York City schools

435
00:23:51,680 --> 00:23:54,680
Speaker 1: say they have not yet received any official guidance about

436
00:23:54,760 --> 00:23:57,920
Speaker 1: monkey box. New York has its first confirmed case a

437
00:23:58,000 --> 00:24:01,080
Speaker 1: monkey box and someone under the age of eighteen. Officials

438
00:24:01,119 --> 00:24:03,200
Speaker 1: from the New York Department of Health say the virus

439
00:24:03,359 --> 00:24:06,600
Speaker 1: was detected and a child or teenager living outside of

440
00:24:06,680 --> 00:24:09,800
Speaker 1: New York City. The virus is primarily spread through skin

441
00:24:09,960 --> 00:24:14,480
Speaker 1: to skin contact. Children in other states, including Texas and California,

442
00:24:14,520 --> 00:24:18,359
Speaker 1: have also contracted monkeypox. In Kansas City, Missouri, health official

443
00:24:18,440 --> 00:24:21,160
Speaker 1: Scott Clarty is trying to make it easier to get

444
00:24:21,160 --> 00:24:25,080
Speaker 1: a shot. If we can get, you know, get folks vaccimated,

445
00:24:25,200 --> 00:24:29,600
Speaker 1: that will keep the spread down. Health official Scott Clarty

446
00:24:29,760 --> 00:24:33,399
Speaker 1: as there are more than fourteen thousand monkeypox cases nationwide.

447
00:24:33,960 --> 00:24:37,280
Speaker 1: Ukrainian officials are denying the Russian allegations that they were

448
00:24:37,359 --> 00:24:40,000
Speaker 1: behind the car bomb attack that killed the daughter a

449
00:24:40,080 --> 00:24:45,400
Speaker 1: prominent Vladimir Putin ally, Alexander Duggan. Very Guinea's family said

450
00:24:45,520 --> 00:24:48,919
Speaker 1: she borrowed her father's car, suggesting he was the target.

451
00:24:49,440 --> 00:24:52,840
Speaker 1: House January six, Committee Vice chair Liz Cheney has said

452
00:24:52,960 --> 00:24:56,840
Speaker 1: she thinks former Vice President Mike Pence should testify before

453
00:24:56,920 --> 00:25:00,760
Speaker 1: the committee. Cheney also hinted that former President Trump could

454
00:25:00,800 --> 00:25:04,120
Speaker 1: be called to testify before the committee. Just days after

455
00:25:04,280 --> 00:25:07,480
Speaker 1: her Republican primary loss in Wyoming, Cheney says that her

456
00:25:07,520 --> 00:25:10,320
Speaker 1: focus now is keeping former President Trump out of the

457
00:25:10,320 --> 00:25:15,600
Speaker 1: White House. Our party has abandoned principle and abandoned value,

458
00:25:15,720 --> 00:25:19,680
Speaker 1: and abandoned fundamental fidelity to the Constitution in order to

459
00:25:19,840 --> 00:25:23,600
Speaker 1: embrace a cult of personality. And I think that's really

460
00:25:23,720 --> 00:25:26,440
Speaker 1: dangerous for a whole bunch of reasons. This. Cheney spoke

461
00:25:26,480 --> 00:25:28,159
Speaker 1: in a d c S this week, which can be

462
00:25:28,200 --> 00:25:32,080
Speaker 1: heard Sundays on Bloomberg. Parental Rights Front and Center. In Florida,

463
00:25:32,119 --> 00:25:36,000
Speaker 1: as Republican government around the Santis campaign in Durrell, supporting

464
00:25:36,040 --> 00:25:40,320
Speaker 1: school board candidates who backed his controversial educational agenda. We

465
00:25:40,400 --> 00:25:43,720
Speaker 1: are not going to surrender to woke. We're gonna prevail,

466
00:25:43,920 --> 00:25:48,200
Speaker 1: and Florida is the state where woke goes to die.

467
00:25:49,320 --> 00:25:52,280
Speaker 1: Former GOP Governor Charlie crist is now running as a

468
00:25:52,359 --> 00:25:55,200
Speaker 1: Democrat for his old seat. My party left me. I

469
00:25:55,240 --> 00:25:57,560
Speaker 1: didn't leave. It started with the tea party that's only

470
00:25:57,640 --> 00:26:02,040
Speaker 1: metatasized now. I'm very probole being a crowd Florida Democratic.

471
00:26:02,400 --> 00:26:04,080
Speaker 1: It's where I should have been a long time ago.

472
00:26:04,359 --> 00:26:06,600
Speaker 1: I'm glad to be here now and thank God for

473
00:26:06,720 --> 00:26:09,280
Speaker 1: it all. Chris spoke to a DC Tomorrow. Is also

474
00:26:09,400 --> 00:26:12,080
Speaker 1: Prime every day in New York Global News twenty four

475
00:26:12,160 --> 00:26:14,560
Speaker 1: hours a day on air and on Bloomberg Quick Take,

476
00:26:14,640 --> 00:26:17,359
Speaker 1: powered by more than twenty seven hundred journalists analysts more

477
00:26:17,359 --> 00:26:20,040
Speaker 1: than a hundred twenty countries. Michael barn this is Bloomberg.

478
00:26:20,440 --> 00:26:27,480
Speaker 1: Thank you, Michael. Almost six thirty six on Wall Street,

479
00:26:27,480 --> 00:26:30,000
Speaker 1: time for the Bloomberg Sports Update with John S. All Right,

480
00:26:30,080 --> 00:26:32,639
Speaker 1: Nathan much. He didn't win for the Yankees, an amazing

481
00:26:32,720 --> 00:26:34,719
Speaker 1: win for the Mets, and now the two teams, at

482
00:26:34,800 --> 00:26:37,840
Speaker 1: least weather permitting, meet tonight in the Bronx started the

483
00:26:37,920 --> 00:26:40,920
Speaker 1: two game Subway series. The Yankees went into Paul O'Neill

484
00:26:41,080 --> 00:26:43,480
Speaker 1: Day at the Stadium with the worst record in August

485
00:26:43,520 --> 00:26:47,040
Speaker 1: of any team in the Major's four and fourteen, assured

486
00:26:47,080 --> 00:26:49,960
Speaker 1: of losing a sixth series in a row that hadn't

487
00:26:49,960 --> 00:26:52,040
Speaker 1: happened to twenty seven years. Just trying to avoid getting

488
00:26:52,040 --> 00:26:54,960
Speaker 1: swept Yank and Blue Jays two to seventhing, Andrew been

489
00:26:55,040 --> 00:27:00,119
Speaker 1: intended at the play. Here's the oh one. So on

490
00:27:00,240 --> 00:27:03,800
Speaker 1: there goes, keep riding as hot, tell us fuck good,

491
00:27:05,840 --> 00:27:09,199
Speaker 1: he hit us first come rod Nick putting the covered

492
00:27:09,280 --> 00:27:16,600
Speaker 1: up better time to Benning the right bal seen the

493
00:27:16,800 --> 00:27:19,040
Speaker 1: f A and Yanks one for to two Mets meanwhile

494
00:27:19,080 --> 00:27:22,280
Speaker 1: one in Philadelphia tend to nine. They trailed for nothing

495
00:27:22,400 --> 00:27:24,920
Speaker 1: later seven to four. Mark Canna had a game sign

496
00:27:25,000 --> 00:27:27,639
Speaker 1: three run homer seventh and and then the ninth Canada

497
00:27:27,800 --> 00:27:30,000
Speaker 1: again two run shot to put the Mets ahead and

498
00:27:30,000 --> 00:27:32,920
Speaker 1: moved them four games ahead of Atlanta. Now the Mets

499
00:27:33,000 --> 00:27:35,119
Speaker 1: come with the Yankees with their one two parts of

500
00:27:35,240 --> 00:27:38,320
Speaker 1: Max Suger and Jacob Degrant. But what it's worth. Giants

501
00:27:38,359 --> 00:27:40,959
Speaker 1: two and over the preseason, they beat Cincinnati at MetLife

502
00:27:41,720 --> 00:27:44,840
Speaker 1: twenty two, a game with three fourth quarter lead changes.

503
00:27:44,960 --> 00:27:48,200
Speaker 1: Davis Webb led the Giants to victory, game winning TV

504
00:27:48,320 --> 00:27:51,080
Speaker 1: pass in the final minute. Daniel Jones started. He looked good,

505
00:27:51,200 --> 00:27:54,960
Speaker 1: going sixteen of eighteen. Rookie edge Russher Cavan Thibodeaux left

506
00:27:55,000 --> 00:27:56,800
Speaker 1: with a knee. Andre did not appear to be serious.

507
00:27:56,880 --> 00:27:59,840
Speaker 1: The Jets hos the Falcons tonight. Patrick Cantley won the

508
00:28:00,000 --> 00:28:03,320
Speaker 1: alf in Delaware. Tom Wiskoff passed away at seventy nine.

509
00:28:03,359 --> 00:28:06,239
Speaker 1: He won sixteen PG events in the nineteen seventy three

510
00:28:06,240 --> 00:28:08,560
Speaker 1: British But hen when we're up at the Masters four times,

511
00:28:08,960 --> 00:28:12,920
Speaker 1: John Scar Bloomberg School, Okay, John, thanks. Six thirty seven

512
00:28:12,960 --> 00:28:14,680
Speaker 1: on Wall Street. Time to take a look at stock

513
00:28:14,800 --> 00:28:16,280
Speaker 1: some of the names moving in the pre market with

514
00:28:16,320 --> 00:28:20,000
Speaker 1: Bloomberg Radio and TV Markets correspondent Crety Gupta, Crety. We've

515
00:28:20,000 --> 00:28:23,679
Speaker 1: been talking about this takeover battle for Signify Health heating up,

516
00:28:23,680 --> 00:28:26,600
Speaker 1: but I look at the stock this morning. My goodness,

517
00:28:26,720 --> 00:28:29,320
Speaker 1: what a surge. It is a massive surge. S g

518
00:28:29,560 --> 00:28:31,960
Speaker 1: F wise your taker here for Signify Health. The jumping

519
00:28:32,080 --> 00:28:35,280
Speaker 1: at this fort in the pre market. Of course, this

520
00:28:35,320 --> 00:28:39,040
Speaker 1: comes after reports of United Help, Amazon, CVS, and option

521
00:28:39,120 --> 00:28:42,040
Speaker 1: Care Health all vying to buy the healthcare technology provider.

522
00:28:42,240 --> 00:28:43,960
Speaker 1: And Nathan, this is really important. I really wanted to

523
00:28:44,000 --> 00:28:45,840
Speaker 1: take an extra beat to to kind of spend on this.

524
00:28:46,320 --> 00:28:48,640
Speaker 1: Amazon in particular, if you look at the names I

525
00:28:48,760 --> 00:28:52,200
Speaker 1: just listed, A United healths CBS, Option Care Help, those

526
00:28:52,280 --> 00:28:55,320
Speaker 1: are not huge, but those aren't the category that Amazon

527
00:28:55,440 --> 00:28:57,959
Speaker 1: usually fits into when it comes to its competitors. Amazon

528
00:28:58,120 --> 00:29:00,680
Speaker 1: really making a massive move here to get into the

529
00:29:00,760 --> 00:29:03,480
Speaker 1: healthcare space. And remember there have been multiple companies in

530
00:29:03,520 --> 00:29:06,640
Speaker 1: the past, but you're Hathaway, even JP Morgan even who

531
00:29:06,680 --> 00:29:09,080
Speaker 1: have tried to get into the healthcare business and haven't

532
00:29:09,080 --> 00:29:11,960
Speaker 1: been able to do it successfully. So to see Amazon

533
00:29:12,120 --> 00:29:14,680
Speaker 1: make this much of a bid for it is pretty significant.

534
00:29:14,680 --> 00:29:16,400
Speaker 1: And remember we've been talking a lot about big tech

535
00:29:16,520 --> 00:29:19,480
Speaker 1: as well. Amazon has a ton of cash on their

536
00:29:19,520 --> 00:29:21,880
Speaker 1: balance sheet just to kind of a legacy or I

537
00:29:21,920 --> 00:29:24,040
Speaker 1: should say, a side effect of the pandemic and how

538
00:29:24,120 --> 00:29:26,520
Speaker 1: much they've been able to borrow at those record low rates.

539
00:29:26,800 --> 00:29:29,360
Speaker 1: So Amazon does actually have cash to spend. Of course,

540
00:29:29,400 --> 00:29:32,440
Speaker 1: Signify help potentially becoming the beneficiary for that. As you

541
00:29:32,520 --> 00:29:34,680
Speaker 1: point out, s g f Y is your taker up

542
00:29:34,720 --> 00:29:39,000
Speaker 1: about in the pre market. What's down though, is those

543
00:29:39,080 --> 00:29:42,200
Speaker 1: meme stocks, Nathan, you have game stock, gm ME, your

544
00:29:42,240 --> 00:29:45,960
Speaker 1: classic kind of I want to call mascot almost for

545
00:29:46,080 --> 00:29:48,720
Speaker 1: the memestock crowd. Down about five percent in the pre market,

546
00:29:48,760 --> 00:29:51,840
Speaker 1: but so is AMC Entertainment, but down by a lot more,

547
00:29:52,240 --> 00:29:54,760
Speaker 1: down about thirty three in the pre market. The tacher

548
00:29:55,000 --> 00:29:57,040
Speaker 1: is just the letter A m C. And I want

549
00:29:57,040 --> 00:29:58,479
Speaker 1: to put an extra minute on this one as well,

550
00:29:58,520 --> 00:30:01,000
Speaker 1: because it is actually going to start trading under ape

551
00:30:01,520 --> 00:30:04,600
Speaker 1: starting today, I believe, when the stock market opens and

552
00:30:04,800 --> 00:30:07,520
Speaker 1: just just under three hours or so. So keep an

553
00:30:07,520 --> 00:30:09,160
Speaker 1: eye on that bed Bath and beyond, of course, we

554
00:30:09,240 --> 00:30:11,800
Speaker 1: know is also the one moving up from the retail

555
00:30:11,840 --> 00:30:14,240
Speaker 1: crowd as well, B B B. Why is your taker

556
00:30:14,440 --> 00:30:17,840
Speaker 1: down about nine percent? Nathan? And finally, Tesla is moving

557
00:30:17,920 --> 00:30:20,080
Speaker 1: for a couple of different reasons. Here it is, and

558
00:30:20,160 --> 00:30:21,600
Speaker 1: it's not the only one. I kind of want to

559
00:30:21,680 --> 00:30:23,840
Speaker 1: group some of the tech stocks together because of course

560
00:30:23,920 --> 00:30:25,840
Speaker 1: we know the market is down broadly to the tune

561
00:30:25,840 --> 00:30:27,960
Speaker 1: about one point two percent, so there isn't a ton

562
00:30:28,000 --> 00:30:29,920
Speaker 1: of green on the screen anyway, but you are seeing

563
00:30:30,000 --> 00:30:32,800
Speaker 1: some of the losses really magnified in the tech names

564
00:30:32,920 --> 00:30:35,520
Speaker 1: like Tesla. For example, t s L as your ticker

565
00:30:35,600 --> 00:30:37,800
Speaker 1: down about two percent in the pre market, but does

566
00:30:37,840 --> 00:30:39,880
Speaker 1: not alone. Take a look at Netflix and f l

567
00:30:40,080 --> 00:30:42,440
Speaker 1: X is your ticker. They're down two point two percent

568
00:30:42,760 --> 00:30:44,520
Speaker 1: in the pre market as well, and should go back

569
00:30:44,520 --> 00:30:46,440
Speaker 1: to Tesla really quickly. It is taking it along with it.

570
00:30:46,560 --> 00:30:49,600
Speaker 1: Some of the other electrical vehicle makers Rivan, Nicola, r

571
00:30:49,640 --> 00:30:51,840
Speaker 1: I v N and n k l A down over

572
00:30:51,920 --> 00:30:54,520
Speaker 1: two percent this morning. Yeah, Boomberg Radio on TV. Markets

573
00:30:54,520 --> 00:30:57,360
Speaker 1: correspondent pretty goooped up with us this morning. As you mentioned,

574
00:30:57,440 --> 00:31:00,160
Speaker 1: the tech sector sort of leading the declines out with

575
00:31:00,200 --> 00:31:03,440
Speaker 1: Nasdaq futures down one point four or a hundred nine points.

576
00:31:03,920 --> 00:31:06,640
Speaker 1: SMP futures are down one point one percent to drop

577
00:31:06,760 --> 00:31:08,920
Speaker 1: of forty seven points. There in Dow Future is down

578
00:31:10,360 --> 00:31:15,000
Speaker 1: down three points. Stay with us, you're listening to Bloomberg

579
00:31:15,240 --> 00:31:24,440
Speaker 1: Bay Bready Bloomberg eleven three oh. Weather clouds today, some

580
00:31:24,480 --> 00:31:26,920
Speaker 1: scattered showers and thunderstorms with a high your seventy five.

581
00:31:26,960 --> 00:31:29,200
Speaker 1: We'll get into the mid eighties tomorrow, partly sunny, maybe

582
00:31:29,200 --> 00:31:33,440
Speaker 1: a few scattered showers. Sunshine Wednesday, high right now seventy

583
00:31:33,520 --> 00:31:39,840
Speaker 1: three in Central Park Markets headlines and breaking news twenty

584
00:31:39,880 --> 00:31:43,080
Speaker 1: four hours a day at Bloomberg dot Com, Bloomberg Business

585
00:31:43,120 --> 00:31:46,760
Speaker 1: apt and at Bloomberg Quick Tape. He's a Bloomberg Business

586
00:31:46,800 --> 00:31:55,400
Speaker 1: Flash and I'm Karin Moscow Future is on the decline.

587
00:31:55,480 --> 00:31:57,520
Speaker 1: This morning. We go to the first word Breaking News

588
00:31:57,600 --> 00:32:00,239
Speaker 1: days for today's morning call. Here's Bell Maloney, A good

589
00:32:00,280 --> 00:32:03,280
Speaker 1: morning and good morning, Karen. That's right. Us features are

590
00:32:03,400 --> 00:32:05,960
Speaker 1: under pressure right now at Features down three hundred points

591
00:32:05,960 --> 00:32:08,120
Speaker 1: says to be strop forty eight one. NAS deck features

592
00:32:08,120 --> 00:32:11,440
Speaker 1: are down by two hundred, the US ten year old

593
00:32:11,440 --> 00:32:13,840
Speaker 1: at two point nine eight percent, Gold is down twelve,

594
00:32:13,880 --> 00:32:17,320
Speaker 1: Oil is little changed, and Bigcoin is down by one percent.

595
00:32:17,680 --> 00:32:20,160
Speaker 1: Japan fell half percent overnight, while Up and markets are

596
00:32:20,200 --> 00:32:22,200
Speaker 1: also in the red this morning, and back in the

597
00:32:22,320 --> 00:32:25,160
Speaker 1: US on the economic front. At eight thirty, Chicago fed

598
00:32:25,520 --> 00:32:28,080
Speaker 1: in deal news people familiar said that Amazon joined the

599
00:32:28,080 --> 00:32:31,600
Speaker 1: bidding war for Signified Health and wrapping things up. Netflix

600
00:32:31,680 --> 00:32:33,480
Speaker 1: was cut the cell over at c f R, a

601
00:32:33,800 --> 00:32:36,440
Speaker 1: foot locker race to equate at Morgan Stanley, and Docu

602
00:32:36,520 --> 00:32:40,560
Speaker 1: sign was cut to sector perform over at RBC Live

603
00:32:40,720 --> 00:32:42,960
Speaker 1: from the first to Breaking News Dotcom. Bill Maloney, Karen,

604
00:32:43,120 --> 00:32:45,040
Speaker 1: all right, Bill, thank you, and here live breaking news

605
00:32:45,080 --> 00:32:47,920
Speaker 1: over your Bloomberg Times squawk on your terminal SCU you

606
00:32:48,080 --> 00:32:50,520
Speaker 1: a w K and that's a Bloomberg business flash. Now

607
00:32:50,600 --> 00:32:52,960
Speaker 1: here's Michael Barrow with more on what's going on around

608
00:32:53,000 --> 00:32:55,680
Speaker 1: the world. Michael, Karen, thank you very much. President Joe

609
00:32:55,720 --> 00:32:59,080
Speaker 1: Biden spoke yesterday with fellow Western leaders looking to revive

610
00:32:59,160 --> 00:33:01,880
Speaker 1: the nuclear d old. With the RN. Biden spoke with

611
00:33:01,960 --> 00:33:06,400
Speaker 1: his counterparts in Germany, France and the UK Basketball Hall

612
00:33:06,440 --> 00:33:09,479
Speaker 1: of Famer Dennis Rodman says he intends to visit Russia

613
00:33:09,720 --> 00:33:12,080
Speaker 1: to try to help w n b A star Britney

614
00:33:12,080 --> 00:33:15,320
Speaker 1: Grinder get back home. Grinder was sentenced to nine years

615
00:33:15,360 --> 00:33:19,280
Speaker 1: following her conviction on drug charges earlier this month. In baseball,

616
00:33:19,320 --> 00:33:22,320
Speaker 1: the Yankees beat the Blue Jays four to The Mets

617
00:33:22,400 --> 00:33:25,480
Speaker 1: beat the Phillies ten nine, The Orioles beat the Red

618
00:33:25,600 --> 00:33:28,800
Speaker 1: Sox five three, The Nationals lost, The A's beat the

619
00:33:28,880 --> 00:33:33,080
Speaker 1: Mariners five three, the Giants one NFL preseason action yesterday,

620
00:33:33,400 --> 00:33:36,600
Speaker 1: The Giants and Ravens won global news twenty four hours

621
00:33:36,640 --> 00:33:39,760
Speaker 1: a day on here and on Bloomberg Quicktake, powered by

622
00:33:39,840 --> 00:33:43,560
Speaker 1: more than hundred journalists analysts more than a hundred twenty countries.

623
00:33:43,760 --> 00:33:50,000
Speaker 1: I'm Michael Barr. This is Bloomberg. The following commentary is

624
00:33:50,040 --> 00:33:54,880
Speaker 1: from Bloomberg Opinion. What happened when Minneapolis ended single family's owning.

625
00:33:55,440 --> 00:33:59,200
Speaker 1: I'm Justin Fox, the columnist for Bloomberg Opinion. In January,

626
00:34:00,320 --> 00:34:04,960
Speaker 1: single family zoning went away in Minneapolis. Duplexes and triplexes

627
00:34:05,000 --> 00:34:07,640
Speaker 1: were permitted in the seventy percent of the city, where

628
00:34:07,720 --> 00:34:12,480
Speaker 1: previously only detached houses were allowed. The change and subsequent

629
00:34:12,600 --> 00:34:16,400
Speaker 1: similar moves elsewhere received a lot of attention. Some hailed

630
00:34:16,400 --> 00:34:19,400
Speaker 1: it as a landmark move toward making housing more affordable

631
00:34:19,680 --> 00:34:23,359
Speaker 1: and ending residential segregation. Others decried it as the end

632
00:34:23,400 --> 00:34:26,760
Speaker 1: of the American way. What is transpired in Minneapolis since

633
00:34:27,040 --> 00:34:29,920
Speaker 1: through the end of June, building permits have been issued

634
00:34:29,960 --> 00:34:34,080
Speaker 1: for twenty new duplexes and eleven new triplexes in neighborhoods

635
00:34:34,120 --> 00:34:37,400
Speaker 1: where they wouldn't have been allowed before. Another twenty or

636
00:34:37,480 --> 00:34:40,480
Speaker 1: so units have been created by newly allowed alterations to

637
00:34:40,600 --> 00:34:43,759
Speaker 1: existing houses in a city of four hundred and twenty

638
00:34:43,800 --> 00:34:47,719
Speaker 1: five thousand people. That's not exactly a housing revolution. It

639
00:34:47,960 --> 00:34:51,480
Speaker 1: is a step. I'm justin Fox. For more opinion, please

640
00:34:51,480 --> 00:34:54,480
Speaker 1: go to Bloomberg dot com, Slash Opinion or O P

641
00:34:54,680 --> 00:34:57,319
Speaker 1: I n go on the Bloomberg terminal. These has been

642
00:34:57,400 --> 00:35:01,000
Speaker 1: Bloomberg Opinion and Bloomberg Opinion meentary is can be heard

643
00:35:01,040 --> 00:35:03,799
Speaker 1: every weekday at this time and terminal customers can read

644
00:35:03,880 --> 00:35:06,880
Speaker 1: more at O P I n go. It's like fifty

645
00:35:06,960 --> 00:35:09,120
Speaker 1: on Wall Street and return to News Now and Science

646
00:35:09,160 --> 00:35:13,080
Speaker 1: and Technology with the Bloomberg and j I T Stem Report.

647
00:35:13,160 --> 00:35:15,239
Speaker 1: It has brought to you by New Jersey Institute of

648
00:35:15,360 --> 00:35:18,840
Speaker 1: Technology and j i T makes industry ready engineers and

649
00:35:18,920 --> 00:35:21,200
Speaker 1: more than twenty fields. If it's engineering, it's at n

650
00:35:21,239 --> 00:35:23,560
Speaker 1: j i T. Learn more at n j I T, DOT,

651
00:35:23,680 --> 00:35:27,920
Speaker 1: E d U and here's let's making news in science, Technology, engineering,

652
00:35:28,040 --> 00:35:31,319
Speaker 1: and map. Millions of students wearing face masks stream back

653
00:35:31,400 --> 00:35:34,279
Speaker 1: to primary and secondary schools across the Philippines today. It

654
00:35:34,400 --> 00:35:36,800
Speaker 1: was their first in person classes after two years of

655
00:35:36,880 --> 00:35:41,920
Speaker 1: coronavirus lockdowns. Officials grappled with daunting problems, including classrooms shortages,

656
00:35:42,239 --> 00:35:46,040
Speaker 1: lingering COVID fears, and approaching storm and quake damage school

657
00:35:46,080 --> 00:35:49,000
Speaker 1: buildings in the country's north. To welcome back many of

658
00:35:49,120 --> 00:35:51,800
Speaker 1: more than twenty seven million students who enrolled for the

659
00:35:51,840 --> 00:35:55,279
Speaker 1: school year. Germany may have to extend its use of

660
00:35:55,400 --> 00:35:57,920
Speaker 1: nuclear power if it's not able to replace all of

661
00:35:58,000 --> 00:36:01,960
Speaker 1: its imports of Russian natural gas winter Berlin had decided

662
00:36:02,000 --> 00:36:05,120
Speaker 1: to exit atomic energy permanently by the end of the year.

663
00:36:05,440 --> 00:36:09,279
Speaker 1: Cancer Oloff Schultz and Economy Minister Robert Habeck say there's

664
00:36:09,320 --> 00:36:12,160
Speaker 1: the option of extending the lives of Germany's last three

665
00:36:12,280 --> 00:36:15,440
Speaker 1: reactors past December and get ready to pay more for

666
00:36:15,560 --> 00:36:18,799
Speaker 1: testless self driving System CEO Elon must tweeted the price

667
00:36:18,880 --> 00:36:22,320
Speaker 1: will rise three thousand dollars to fifteen thousand in North America.

668
00:36:22,680 --> 00:36:25,040
Speaker 1: Price cycle will take place on September five. It's the

669
00:36:25,120 --> 00:36:27,960
Speaker 1: second increase this year. That's the Bloomberg and j I

670
00:36:28,080 --> 00:36:31,160
Speaker 1: t Stem Report. Nathan Okay, Karen, thank you. We're live

671
00:36:31,200 --> 00:36:33,719
Speaker 1: from the Bloomberg Getteractive Broker Studios. Or It's almost six

672
00:36:33,800 --> 00:36:36,520
Speaker 1: fifty two on Wall Street Time Now to check what's

673
00:36:36,560 --> 00:36:38,359
Speaker 1: going on in d C, where some of the top

674
00:36:38,440 --> 00:36:41,680
Speaker 1: stories include Congresswoman Liz Cheney promising to keep up her

675
00:36:41,760 --> 00:36:45,359
Speaker 1: fight against former President Donald Trump even after losing her

676
00:36:45,400 --> 00:36:48,840
Speaker 1: Republican primary in Wyoming. Cheney was a guest on a

677
00:36:48,960 --> 00:36:50,920
Speaker 1: b C S this week. I'm going to be very

678
00:36:50,960 --> 00:36:54,200
Speaker 1: focused on working to ensure that we do everything we

679
00:36:54,320 --> 00:36:58,319
Speaker 1: can um not to elect election deniers, and I'm going

680
00:36:58,360 --> 00:37:01,040
Speaker 1: to work against those people. I'm going to work to

681
00:37:01,080 --> 00:37:04,120
Speaker 1: support their opponents. I think it matters that much. Meanwhile,

682
00:37:04,200 --> 00:37:07,680
Speaker 1: Democrats are feeling better about their chances in November against

683
00:37:07,719 --> 00:37:11,359
Speaker 1: a growing number of pro Trump Republican opponents. Congressman Sean

684
00:37:11,400 --> 00:37:14,520
Speaker 1: Patrick Maloney chairs the Democratic Campaign Arm in the House.

685
00:37:14,680 --> 00:37:16,440
Speaker 1: We've been counted out for a while now, but we

686
00:37:16,560 --> 00:37:19,640
Speaker 1: are having a comeback, and we have great candidates all

687
00:37:19,719 --> 00:37:24,440
Speaker 1: over the country, veterans, diverse candids that look like America,

688
00:37:24,520 --> 00:37:26,520
Speaker 1: that are a good fit for their district, and we're

689
00:37:26,560 --> 00:37:29,880
Speaker 1: excited to share those candidates with the American people. Congressman

690
00:37:29,920 --> 00:37:33,120
Speaker 1: Maloney was on NBC's Meet the Press, also making news.

691
00:37:33,400 --> 00:37:36,839
Speaker 1: Education Secretary Miguel Cardona with a unique pitch for how

692
00:37:36,880 --> 00:37:40,880
Speaker 1: to use federal stimulus money to address a nationwide teacher shortage.

693
00:37:41,000 --> 00:37:43,799
Speaker 1: Let's use the American Rescue playing dollars to bring back

694
00:37:43,840 --> 00:37:47,040
Speaker 1: retired teachers, to work with universities to make sure that

695
00:37:47,080 --> 00:37:49,520
Speaker 1: our student teachers are starting a little bit earlier into

696
00:37:49,560 --> 00:37:53,239
Speaker 1: their profession. Secretary Cardona was on CBSS Face the Nation,

697
00:37:53,320 --> 00:37:55,640
Speaker 1: which you can hear every Sunday right here on Bloomberg

698
00:37:55,760 --> 00:37:58,160
Speaker 1: Radio along with Meet the Press, and this week and

699
00:37:58,200 --> 00:38:00,640
Speaker 1: now we're joined by Bloomberg Government reporter m Lee Wilkins

700
00:38:01,000 --> 00:38:03,920
Speaker 1: from the nation's capital. So here we are Emily, just

701
00:38:04,080 --> 00:38:08,280
Speaker 1: about less than three months from the November general election,

702
00:38:08,640 --> 00:38:11,399
Speaker 1: and as we heard, they're a lot more confidence from

703
00:38:11,480 --> 00:38:14,280
Speaker 1: Democrats about the opponents they're going to be up against

704
00:38:14,640 --> 00:38:19,319
Speaker 1: in house races. Yeah, Democrats are killing particularly good UM.

705
00:38:19,440 --> 00:38:22,080
Speaker 1: They had a couple of special elections in Nebraska and

706
00:38:22,120 --> 00:38:26,320
Speaker 1: Minnesota where Republicans have won, but the margins for Democrats

707
00:38:26,400 --> 00:38:29,080
Speaker 1: were a little more narrow. They did better than we

708
00:38:29,160 --> 00:38:31,520
Speaker 1: thought they were going to do. And yes, while we

709
00:38:31,640 --> 00:38:34,640
Speaker 1: have seen folks like Liz Cheney go ahead and lose

710
00:38:34,680 --> 00:38:38,480
Speaker 1: her primary UM, there is a lot of confidence that

711
00:38:38,640 --> 00:38:41,319
Speaker 1: Democrats are going to be able to pick up wins UM. Well,

712
00:38:41,360 --> 00:38:45,160
Speaker 1: obviously she's a Republican, but they're Democrats are are pretty

713
00:38:45,200 --> 00:38:46,799
Speaker 1: confident that they're going to be able to pick up

714
00:38:46,840 --> 00:38:50,120
Speaker 1: wins in other places throughout the country, and particularly if

715
00:38:50,160 --> 00:38:52,400
Speaker 1: you look at the Senate, there's a lot of confidence

716
00:38:52,520 --> 00:38:55,560
Speaker 1: there just because there are a number of states where

717
00:38:56,000 --> 00:39:00,520
Speaker 1: the Democratic candidate is currently leading the Republican candidate. We're

718
00:39:00,560 --> 00:39:04,520
Speaker 1: looking at key states like Pennsylvania where Tom Petterman is

719
00:39:04,680 --> 00:39:07,600
Speaker 1: up against Um that met Oz, as well as in

720
00:39:07,760 --> 00:39:11,480
Speaker 1: Georgia where herschel Walker has really suffered the string of

721
00:39:12,040 --> 00:39:17,200
Speaker 1: UM this kind of setbacks personal gas, personal history, stumbling

722
00:39:17,280 --> 00:39:20,560
Speaker 1: blocks on the campaign trail, and we're also seeing some

723
00:39:20,640 --> 00:39:23,520
Speaker 1: similar dynamics play out in Ohio. So there are all

724
00:39:23,560 --> 00:39:26,480
Speaker 1: these key states that really could decide the makeup of

725
00:39:26,600 --> 00:39:29,800
Speaker 1: the Senate, and right now it seems like Democratic candidates

726
00:39:29,840 --> 00:39:33,759
Speaker 1: are are simply performing better than their Republican counterparts. What

727
00:39:33,880 --> 00:39:37,640
Speaker 1: are the issues that that the parties are looking to

728
00:39:37,760 --> 00:39:42,320
Speaker 1: focus on heading into November. Obviously the economy continues to

729
00:39:42,440 --> 00:39:46,160
Speaker 1: be a big one. But we've got this FBI search

730
00:39:46,400 --> 00:39:50,000
Speaker 1: at former President Trump's home in mar Lago, Florida, and

731
00:39:50,440 --> 00:39:56,080
Speaker 1: we have Democrats looking to capitalize potentially on abortion rights.

732
00:39:56,280 --> 00:39:59,399
Speaker 1: Could those be drivers as well? I think you hit

733
00:39:59,440 --> 00:40:01,560
Speaker 1: the hit the now the head there, Nathan Nathan with

734
00:40:01,600 --> 00:40:04,080
Speaker 1: abortion rights. I mean that is really kind of the

735
00:40:04,239 --> 00:40:07,719
Speaker 1: big one, uh, that Democrats have been touting the ones

736
00:40:07,800 --> 00:40:11,120
Speaker 1: that they see more movement and turn out on. Remember,

737
00:40:11,480 --> 00:40:13,720
Speaker 1: a lot of the mid terms is about folks actually

738
00:40:13,800 --> 00:40:15,680
Speaker 1: getting up and coming to the polls. They have to

739
00:40:15,760 --> 00:40:18,160
Speaker 1: have a reason to want to do that. That's always

740
00:40:18,200 --> 00:40:21,160
Speaker 1: hard for the president's party because you know, their voters

741
00:40:21,239 --> 00:40:23,680
Speaker 1: look and say, well, we're in charge, but I'm probably good.

742
00:40:23,719 --> 00:40:25,840
Speaker 1: I don't need to get to the bellot box today.

743
00:40:26,239 --> 00:40:29,960
Speaker 1: But to have something hanging over Democratic voters with the

744
00:40:30,080 --> 00:40:33,640
Speaker 1: intensity of the overturning of Roe versus Way, that is

745
00:40:33,719 --> 00:40:36,640
Speaker 1: a motivator for them to get out and to go vote.

746
00:40:36,760 --> 00:40:39,240
Speaker 1: And so that could definitely be something that gives Democrats

747
00:40:39,280 --> 00:40:43,800
Speaker 1: a huge boost. For Republican it's inflation inflation, inflation inflation.

748
00:40:44,040 --> 00:40:46,800
Speaker 1: It's very much a focus on the economy, a focus

749
00:40:46,960 --> 00:40:50,399
Speaker 1: on prices. Although we'll be interesting to see, of course,

750
00:40:50,480 --> 00:40:52,799
Speaker 1: what happens if some of that cooling that we began

751
00:40:52,920 --> 00:40:56,120
Speaker 1: to see in July, exactly how far that goes. I mean,

752
00:40:56,200 --> 00:40:59,000
Speaker 1: certainly Democrats have been now quick to push back, uh,

753
00:40:59,320 --> 00:41:01,680
Speaker 1: you know, putting out the gas prices are are much

754
00:41:01,800 --> 00:41:04,520
Speaker 1: lower than they were several months ago. Um, and I

755
00:41:04,640 --> 00:41:07,600
Speaker 1: think even some Democrats are optimistic that they can to

756
00:41:07,680 --> 00:41:10,480
Speaker 1: a certain degree run on the economy and particularly the

757
00:41:11,280 --> 00:41:14,320
Speaker 1: low unemployment. One of about a minute left here, but

758
00:41:14,440 --> 00:41:16,640
Speaker 1: one story that didn't make the Sunday shows was a

759
00:41:16,719 --> 00:41:21,879
Speaker 1: President Biden chatting with European leaders about the Iran nuclear deal. Yeah,

760
00:41:22,000 --> 00:41:24,719
Speaker 1: so Biden's focus. Top officials in Germany, France and the

761
00:41:24,880 --> 00:41:28,200
Speaker 1: UK all signatorized at the original nuclear deal with Iran.

762
00:41:28,760 --> 00:41:33,400
Speaker 1: Negotiations have continued on that deal and Iran has submitted

763
00:41:33,440 --> 00:41:37,359
Speaker 1: a response the latest proposal that the European Union put out,

764
00:41:37,520 --> 00:41:41,440
Speaker 1: and the European Union has said that that response was constructive. Now,

765
00:41:41,480 --> 00:41:43,600
Speaker 1: the US has yet to weigh in on the Iranian

766
00:41:43,719 --> 00:41:47,279
Speaker 1: comments on that EO proposal, um we know that they're

767
00:41:47,600 --> 00:41:50,920
Speaker 1: One advisor to the Iran negotiating team says that Toron

768
00:41:51,000 --> 00:41:53,120
Speaker 1: wants to ensure the US will pay a price if

769
00:41:53,160 --> 00:41:56,200
Speaker 1: they withdraw again from the agreement as it did under Trump.

770
00:41:56,560 --> 00:41:58,360
Speaker 1: But at this point there do seem to be some

771
00:41:58,520 --> 00:42:01,440
Speaker 1: optimistic signs that they might be able to get back

772
00:42:01,560 --> 00:42:04,800
Speaker 1: to an agreement on the nuclear deal. Thanks for this,

773
00:42:04,880 --> 00:42:07,799
Speaker 1: Bloomberg Government reporter Emily Wilkins, and you can read more

774
00:42:07,800 --> 00:42:10,360
Speaker 1: about these stories on Bloomberg dot com or on the

775
00:42:10,360 --> 00:42:14,279
Speaker 1: Bloomberg terminal. Follow all the latest on Bloomberg Radio in Washington,

776
00:42:14,360 --> 00:42:18,680
Speaker 1: Bloomberg and one oh five point seven FM h D two.

777
00:42:19,200 --> 00:42:22,120
Speaker 1: Getting ready for the start of the trading week. Futures

778
00:42:22,280 --> 00:42:25,279
Speaker 1: are moving lower. We have SMP futures right now down

779
00:42:25,440 --> 00:42:29,280
Speaker 1: forty six points down, futures down two eighty seven. Nasdaq

780
00:42:29,360 --> 00:42:31,719
Speaker 1: futures are lower by a hundred ninety three points. The

781
00:42:31,800 --> 00:42:34,719
Speaker 1: tenure Treasury is down to thirty seconds. The yield now

782
00:42:34,800 --> 00:42:37,160
Speaker 1: two point nine seven almost two point nine eight percent

783
00:42:37,520 --> 00:42:41,600
Speaker 1: yield on the two year three to nine Bloomberg surveillance

784
00:42:41,880 --> 00:42:45,840
Speaker 1: is straight ahead for Karen Moscow. I'm Nathan Hagar, and

785
00:42:46,120 --> 00:42:48,000
Speaker 1: this is Bloomberg