1 00:00:02,640 --> 00:00:05,320 Speaker 1: Live from the Bloomberg Interact at Brooker Studios. This is 2 00:00:05,360 --> 00:00:09,360 Speaker 1: Bloomberg day Break for Friday, February eighteen twenty. Coming up 3 00:00:09,360 --> 00:00:12,280 Speaker 1: this hour, stocks get a lift on news of plant 4 00:00:12,360 --> 00:00:15,400 Speaker 1: talks between the US and Russia. Facebook drops out of 5 00:00:15,440 --> 00:00:18,360 Speaker 1: the top ten most valuable companies. Jim Bullard says the 6 00:00:18,360 --> 00:00:21,079 Speaker 1: Fed may need to raise rates above two percent, and 7 00:00:21,120 --> 00:00:22,959 Speaker 1: the White House lawns it may be running out of 8 00:00:22,960 --> 00:00:26,400 Speaker 1: money to fight COVID. Former President Trump ordered to testify 9 00:00:26,520 --> 00:00:29,400 Speaker 1: the New York Attorney General's proll of his business practices, 10 00:00:29,520 --> 00:00:32,640 Speaker 1: and former Gunmer Cuomo sued for alleged sex harassment. I'm 11 00:00:32,720 --> 00:00:35,720 Speaker 1: John Tucker. Those stories straight ahead, I'm John Stashhower and 12 00:00:35,800 --> 00:00:38,519 Speaker 1: sports Another shootout at the Garden this time. The Rangers 13 00:00:38,560 --> 00:00:41,240 Speaker 1: lost in Detroit, the Islanders beat the Bruins, the Nets 14 00:00:41,280 --> 00:00:46,600 Speaker 1: lost to Washington. That's all straight ahead on Bloomberg day 15 00:00:46,600 --> 00:00:51,560 Speaker 1: Break on Bloomberg Elemen Trio, New York, Bloomberg one, Washington, 16 00:00:51,680 --> 00:00:55,760 Speaker 1: d C, Bloomberg one on six one, Boston, Bloomberg nine sixties, 17 00:00:55,760 --> 00:00:59,760 Speaker 1: San Francisco, Sirius x M one nineteen and around the 18 00:00:59,760 --> 00:01:02,600 Speaker 1: world Old on Bluebird Radio dot Com and via the 19 00:01:02,640 --> 00:01:09,960 Speaker 1: Bloomberg Business. Good Friday morning. I'm Nathan Hagar and I'm 20 00:01:10,040 --> 00:01:13,040 Speaker 1: Karen Moscow and US DOT Index futures are higher to 21 00:01:13,319 --> 00:01:14,920 Speaker 1: end of the week. We're coming up to five oh 22 00:01:14,959 --> 00:01:16,680 Speaker 1: one on Wall Street, and we checked the markets every 23 00:01:16,680 --> 00:01:19,680 Speaker 1: fifteen minutes throughout the trading day. On Bloomberg s and 24 00:01:19,760 --> 00:01:22,840 Speaker 1: P futures have twenty five points. Now futures have one 25 00:01:23,040 --> 00:01:25,840 Speaker 1: D forty eight and NASDAG futures have one D eight. 26 00:01:26,120 --> 00:01:29,080 Speaker 1: The decks in Germany is little changed ten Your treasury 27 00:01:29,160 --> 00:01:31,640 Speaker 1: little changed as well. They'll yield is one point nine 28 00:01:31,680 --> 00:01:34,119 Speaker 1: five percent, and they yield on the two year one 29 00:01:34,120 --> 00:01:37,319 Speaker 1: point four seven percent. Nine Max Screwed oil is down 30 00:01:37,360 --> 00:01:39,840 Speaker 1: about two percent on a dollar eighty one and eighty 31 00:01:39,920 --> 00:01:42,840 Speaker 1: nine dollars ninety five cents of barrel, and Comex gold 32 00:01:42,920 --> 00:01:45,559 Speaker 1: is down three tents of a percent. In eighteen ninety seven, 33 00:01:45,560 --> 00:01:48,720 Speaker 1: announced the euro one point one three seven one against 34 00:01:48,760 --> 00:01:51,600 Speaker 1: the dollar. Nathan Well, Karen futures are getting a lift 35 00:01:51,640 --> 00:01:54,480 Speaker 1: after yesterday sell off. There is optimism this morning on 36 00:01:54,560 --> 00:01:57,240 Speaker 1: word that the US is extending a hand to Russia 37 00:01:57,280 --> 00:02:00,840 Speaker 1: with a high stakes meeting. Bloomberg z Baxter as the latest. 38 00:02:01,160 --> 00:02:03,000 Speaker 1: So it looks as if there will be a meeting 39 00:02:03,080 --> 00:02:06,200 Speaker 1: late next week as the US accepts the date as well. 40 00:02:06,680 --> 00:02:08,959 Speaker 1: But the fact remains that are over one hundred fifty 41 00:02:08,960 --> 00:02:12,400 Speaker 1: thousand Russian troops at the border, and Blincoln says the 42 00:02:12,520 --> 00:02:15,920 Speaker 1: real issue the States go far beyond Ukraine. This is 43 00:02:15,919 --> 00:02:18,320 Speaker 1: a moment of peril for the lives and safety of 44 00:02:18,400 --> 00:02:21,359 Speaker 1: millions of people, as well as for the foundation of 45 00:02:21,400 --> 00:02:25,160 Speaker 1: the United Nations Charter and the rules based international order. 46 00:02:25,360 --> 00:02:29,040 Speaker 1: And President Biden says he will call Transatlantic leaders later 47 00:02:29,160 --> 00:02:32,960 Speaker 1: today in San Francisco. I'm at Baxter Bloomberg Daybreak and 48 00:02:33,080 --> 00:02:36,000 Speaker 1: thank you. Geo political tensions help fuel us sell off 49 00:02:36,000 --> 00:02:39,160 Speaker 1: on Wall Street yesterday about companies in the S and 50 00:02:39,200 --> 00:02:42,120 Speaker 1: P five hundred fell while the tech heavy NASDAC tumbled 51 00:02:42,160 --> 00:02:45,239 Speaker 1: three percent. It's a difficult time for investors, according to 52 00:02:45,280 --> 00:02:48,760 Speaker 1: Eton Vance portfolio manager Jana Barton, there are lots of questions. 53 00:02:48,760 --> 00:02:52,320 Speaker 1: That's very hugeful proof answers, a lot of uncertainty, which 54 00:02:52,360 --> 00:02:55,480 Speaker 1: obviously investors don't like. But you name it, uh and 55 00:02:55,560 --> 00:02:59,720 Speaker 1: the visibility is marking, whether it's policy, geopolitics, growth, inflation. 56 00:03:00,880 --> 00:03:03,200 Speaker 1: Lots to worry about. But Jana Barton at Eaton Van 57 00:03:03,280 --> 00:03:06,720 Speaker 1: says he still remains bullish on equities, well, Karen. Perhaps 58 00:03:06,720 --> 00:03:08,839 Speaker 1: one of the hardest hit equities over the past few 59 00:03:08,840 --> 00:03:12,360 Speaker 1: months has been Meta Platforms. The parent of Facebook, has 60 00:03:12,400 --> 00:03:15,120 Speaker 1: now tumbled out of the world's ten largest companies by 61 00:03:15,200 --> 00:03:18,840 Speaker 1: market value, hammered by its worst monthly decline ever. We 62 00:03:18,919 --> 00:03:22,520 Speaker 1: get more from Bloomberg's Charlie Pellet. Once the world's sixth 63 00:03:22,600 --> 00:03:26,160 Speaker 1: largest company with a valuation and excess of one trillion dollars, 64 00:03:26,480 --> 00:03:29,360 Speaker 1: the Facebook parent closed the last session with a value 65 00:03:29,360 --> 00:03:33,200 Speaker 1: of five hundred sixty five billion dollars, placing it in 66 00:03:33,360 --> 00:03:37,360 Speaker 1: eleventh place behind ten Cent Holdings. According to data compile 67 00:03:37,440 --> 00:03:41,560 Speaker 1: by Bloomberg, Metal Platforms, which changed its name from Facebook 68 00:03:41,640 --> 00:03:45,080 Speaker 1: last year, has seen more than five hundred billion dollars 69 00:03:45,080 --> 00:03:49,880 Speaker 1: in market value destroyed from eight September peak in New York. 70 00:03:50,080 --> 00:03:53,320 Speaker 1: Charlie Pellet Bloomberg Daybreak, Charlie, thank you. Let's get you 71 00:03:53,360 --> 00:03:55,880 Speaker 1: up to date on some other stocks moving this morning 72 00:03:55,920 --> 00:03:59,040 Speaker 1: on earning. Shares of Roku down twenty four percent in 73 00:03:59,080 --> 00:04:02,640 Speaker 1: early trading. The streaming video platform reported revenue and a 74 00:04:02,800 --> 00:04:06,160 Speaker 1: sales outlook that fell short of estimates. Red Fin shares 75 00:04:06,200 --> 00:04:08,440 Speaker 1: are down more than two percent as well. The real 76 00:04:08,520 --> 00:04:11,800 Speaker 1: estate technology company forecast a first quarter loss that was 77 00:04:11,880 --> 00:04:14,640 Speaker 1: worse than analysts we're looking for, and shares of shake 78 00:04:14,720 --> 00:04:18,120 Speaker 1: Shack are down eleven percent. The Hamburger Chains first quarter 79 00:04:18,240 --> 00:04:22,480 Speaker 1: revenue missed forecasts. So with all this market volatility, where's 80 00:04:22,520 --> 00:04:25,880 Speaker 1: the best place to put your money? Some say overseas. 81 00:04:26,200 --> 00:04:29,080 Speaker 1: Let's get the details Live with Bloomberg's Max Ramsey in 82 00:04:29,080 --> 00:04:32,320 Speaker 1: our London bah Good morning, Max, Morning to you, Nathan 83 00:04:32,360 --> 00:04:35,359 Speaker 1: and Karen. Yes, this positioning is really fascinating because it 84 00:04:35,400 --> 00:04:39,039 Speaker 1: has been a very volatile month for European and global equities. 85 00:04:39,040 --> 00:04:42,160 Speaker 1: We've had this hawk ish pivot from the ECB, repricing 86 00:04:42,160 --> 00:04:45,040 Speaker 1: in the bond markets, and of course tensions over at Ukraine. 87 00:04:45,040 --> 00:04:48,920 Speaker 1: But strategists are holding the line on European stocks. Bloom 88 00:04:48,960 --> 00:04:52,400 Speaker 1: Bag polled seventeen buy and south side strategists in February. 89 00:04:52,600 --> 00:04:55,359 Speaker 1: Only two lowered day year end targets for the stock 90 00:04:55,440 --> 00:04:57,960 Speaker 1: six hundred. So right now we trade at four six 91 00:04:58,040 --> 00:05:01,400 Speaker 1: five points this morning. The average target is five seven, 92 00:05:01,839 --> 00:05:04,159 Speaker 1: around an eight percent upside for at the end of 93 00:05:04,160 --> 00:05:07,320 Speaker 1: the year. Live in London, Max Ramsey, blim back daybreak, Max, 94 00:05:07,360 --> 00:05:09,920 Speaker 1: thank you. The prospect of higher interest rates has also 95 00:05:09,960 --> 00:05:12,600 Speaker 1: been a major contributor to the recent market sell off, 96 00:05:12,800 --> 00:05:15,400 Speaker 1: and St. Louis FED President Jim Bullard says the Federal 97 00:05:15,480 --> 00:05:19,239 Speaker 1: Reserve may need to raise rates above two percent occur prices. 98 00:05:19,560 --> 00:05:22,240 Speaker 1: If you wanted to put downward pressure on inflation, you'd 99 00:05:22,240 --> 00:05:25,200 Speaker 1: actually have to get to neutral and go beyond neutral, 100 00:05:25,560 --> 00:05:28,880 Speaker 1: And I think that's a major concern of mine. We're 101 00:05:28,880 --> 00:05:31,440 Speaker 1: not really in a position to do that right now, 102 00:05:31,600 --> 00:05:33,400 Speaker 1: but we have to get in a position to do 103 00:05:33,440 --> 00:05:37,480 Speaker 1: that at some point in case inflation doesn't moderate. St. 104 00:05:37,480 --> 00:05:39,719 Speaker 1: Louis Fed President Jim Bullard made the comments in an 105 00:05:39,760 --> 00:05:44,040 Speaker 1: event hosted by Columbia University and s G H. Macro Advisors. 106 00:05:44,400 --> 00:05:47,880 Speaker 1: Cleveland FED President Laurenta Master also supports tighter policy at 107 00:05:47,880 --> 00:05:50,360 Speaker 1: a faster pace to fight inflation. Carens she supports a 108 00:05:50,440 --> 00:05:53,400 Speaker 1: rate hike next month and expects inflation to remain above 109 00:05:53,480 --> 00:05:56,279 Speaker 1: two percent both this year and next. Coming up on 110 00:05:56,279 --> 00:05:58,840 Speaker 1: the economic front, Nathan, we get data on the housing 111 00:05:58,880 --> 00:06:02,200 Speaker 1: market today at a amus predict. Existing home sales probably 112 00:06:02,279 --> 00:06:04,360 Speaker 1: dropped in January for the second month of a row. 113 00:06:04,560 --> 00:06:07,680 Speaker 1: Bloomberg's Vinnie Deal Judai says more the prior reports at 114 00:06:07,720 --> 00:06:10,600 Speaker 1: existing home sales dropped in December for the first time 115 00:06:10,640 --> 00:06:14,960 Speaker 1: since August. The outlook could be described as tenuous. Inventories 116 00:06:14,960 --> 00:06:18,320 Speaker 1: remain below and mortgage rates are creeping higher back to 117 00:06:18,440 --> 00:06:23,000 Speaker 1: pre pandemic levels. Prices very high prices are also having 118 00:06:23,000 --> 00:06:26,120 Speaker 1: an impact. I mean January the COVID nineteen armor cront 119 00:06:26,200 --> 00:06:29,680 Speaker 1: Varry cast the pale on Daily Life, then eat jud 120 00:06:29,880 --> 00:06:32,320 Speaker 1: Bloomberg day Break. Okay, Vinny, thank you, turning you to 121 00:06:32,360 --> 00:06:35,000 Speaker 1: the pandemic Now. The White House is warning COVID cash 122 00:06:35,120 --> 00:06:37,599 Speaker 1: is drying up. It's telling Congress the US does not 123 00:06:37,720 --> 00:06:40,120 Speaker 1: have enough money on hand to deal with future coronavirus 124 00:06:40,240 --> 00:06:44,160 Speaker 1: variants and needs more to stockpile vaccines and develop new technologies. 125 00:06:44,400 --> 00:06:46,680 Speaker 1: The Department of Health and Human Services is asking for 126 00:06:46,800 --> 00:06:49,919 Speaker 1: thirty billion dollars to prepare for the next waves of 127 00:06:49,920 --> 00:06:53,039 Speaker 1: the virus. Meantime, Nathany I r S is adding a 128 00:06:53,200 --> 00:06:56,520 Speaker 1: second so called search team to expand its capacity to 129 00:06:56,560 --> 00:07:00,159 Speaker 1: process US tax returns. That comes after criticism from members 130 00:07:00,200 --> 00:07:03,120 Speaker 1: of Congress who say taxpayers are waiting for months to 131 00:07:03,160 --> 00:07:05,760 Speaker 1: get their refunds. The I r S will also outsource 132 00:07:05,839 --> 00:07:10,040 Speaker 1: some functions to help finalize returns. More quickly again. Futures 133 00:07:10,080 --> 00:07:13,240 Speaker 1: are on the rise this morning, Bitcoin also gaining at 134 00:07:13,280 --> 00:07:16,200 Speaker 1: forty tho eight hundred dollars. Straight to had your latest 135 00:07:16,200 --> 00:07:19,280 Speaker 1: local headlines, plus a check of sports. This is Bloomberg. 136 00:07:23,280 --> 00:07:25,440 Speaker 1: Then it's now five oh seven on Wall Street. Time 137 00:07:25,440 --> 00:07:27,280 Speaker 1: to bring in John Tucker for a look at what's 138 00:07:27,280 --> 00:07:29,400 Speaker 1: going on in New York and around the world. Good 139 00:07:29,400 --> 00:07:32,480 Speaker 1: morning John, Good morning Nathan. Former President Trump has been 140 00:07:32,640 --> 00:07:36,400 Speaker 1: ordered to testify in an investigation being conducted by the 141 00:07:36,440 --> 00:07:39,240 Speaker 1: New York Attorney General. The story of this morning from 142 00:07:39,280 --> 00:07:43,000 Speaker 1: Bloomberg's Jeff Bellinger. A New York judge rejected a request 143 00:07:43,040 --> 00:07:46,160 Speaker 1: by Trump, Donald Trump Junior, and Ivanka Trump that he 144 00:07:46,280 --> 00:07:50,480 Speaker 1: block Attorney General Leticia James subpoenas for their depositions. He 145 00:07:50,640 --> 00:07:54,280 Speaker 1: ordered the three to appear for depositions within twenty one days. 146 00:07:54,640 --> 00:07:57,920 Speaker 1: At a contentious hearing, lawyers for the Trump's accused James 147 00:07:57,960 --> 00:08:01,440 Speaker 1: of improperly trying to gather criminal evidence under the guise 148 00:08:01,480 --> 00:08:05,080 Speaker 1: of conducting a civil investigation that would typically culminate in 149 00:08:05,120 --> 00:08:08,320 Speaker 1: a lawsuit rather than an indictment, but the judge said 150 00:08:08,320 --> 00:08:12,280 Speaker 1: their argument completely misses the mark. Trump said in a statement, 151 00:08:12,400 --> 00:08:14,640 Speaker 1: I can't get a fair hearing in New York because 152 00:08:14,640 --> 00:08:17,560 Speaker 1: of the hatred of me by judges and the judiciary. 153 00:08:17,960 --> 00:08:21,640 Speaker 1: Jeff Mullinger Cloomberg neighbor. Former New York gaity Andrew Cuomo 154 00:08:21,680 --> 00:08:24,560 Speaker 1: has been sued over alleged sexual harassment by a state 155 00:08:24,600 --> 00:08:28,080 Speaker 1: trooper who was part of his protective detail. Cuomo was 156 00:08:28,120 --> 00:08:31,040 Speaker 1: forced to resign last year after the state Attorney General 157 00:08:31,240 --> 00:08:35,239 Speaker 1: is shoed a lengthy report alleging several instances of harassment. 158 00:08:35,679 --> 00:08:38,800 Speaker 1: New York habit Kathy Hocal accepting the state Democratic Party's 159 00:08:39,120 --> 00:08:43,040 Speaker 1: nomination as their candidate in the twenty two governor's race. 160 00:08:43,360 --> 00:08:46,040 Speaker 1: The decision marks a rapid rise for the sixty three 161 00:08:46,120 --> 00:08:49,160 Speaker 1: old Buffalo native, who was a relative unknown when she 162 00:08:49,240 --> 00:08:53,280 Speaker 1: took office in August, following Cuomo's resignation over the sexual 163 00:08:53,320 --> 00:08:56,959 Speaker 1: harassment allegations. The New York City firefighter has died from 164 00:08:56,960 --> 00:08:59,760 Speaker 1: what's being described as a sudden medical episode that has 165 00:08:59,800 --> 00:09:03,440 Speaker 1: fire house a day after battling a house fire in Queens. 166 00:09:03,840 --> 00:09:07,320 Speaker 1: Mayor Eric Adams the entire city moins for the loss 167 00:09:07,880 --> 00:09:11,120 Speaker 1: of this firefighter. Young man that dreamed to be a 168 00:09:11,160 --> 00:09:14,160 Speaker 1: firefighter all his life. Thirty three year old Jesse Gerhardt 169 00:09:14,200 --> 00:09:17,800 Speaker 1: worked at latter Company one thirty four and far rockaway House. 170 00:09:17,880 --> 00:09:20,840 Speaker 1: Republican leader Kevin McCarthy has taken the unusual step of 171 00:09:20,960 --> 00:09:25,800 Speaker 1: endorsing the primary opponent of incumbent Republican Representative Liz Cheney. 172 00:09:26,160 --> 00:09:28,720 Speaker 1: It's an indication of the death of the split in 173 00:09:28,760 --> 00:09:32,880 Speaker 1: the party over former President Donald Trump. McCarthy joined Trump 174 00:09:32,920 --> 00:09:37,160 Speaker 1: and backing Attorney Harriet Hagman at Wyoming's August Republican primary 175 00:09:37,200 --> 00:09:40,520 Speaker 1: against Cheney. Cheney has criticized Trump over his role in 176 00:09:40,559 --> 00:09:44,120 Speaker 1: stoking the Bob A storm the US capital last year. 177 00:09:44,720 --> 00:09:47,120 Speaker 1: Global News twenty four Hours Day on Aaron and on 178 00:09:47,160 --> 00:09:51,720 Speaker 1: Bloomberg Quicktake, where power block more than journalist and analysts 179 00:09:51,880 --> 00:09:55,160 Speaker 1: in more than one twenty countries. I'm John Tucker and 180 00:09:55,400 --> 00:10:02,800 Speaker 1: this is Bloomberg, and that brings us to five o 181 00:10:03,000 --> 00:10:05,160 Speaker 1: nine on Wall Street. It's time bound for the Bloomberg 182 00:10:05,200 --> 00:10:08,720 Speaker 1: Sports up tape. Good Morning, John Stash, Morning John Tucker. 183 00:10:08,720 --> 00:10:11,760 Speaker 1: Another shootout at the Garden, like the one on Tuesday, 184 00:10:11,880 --> 00:10:14,960 Speaker 1: not decided with the normal three rounds. Took nine rounds 185 00:10:14,960 --> 00:10:17,120 Speaker 1: for the Rangers to beat Boston. The one with Detroit 186 00:10:17,880 --> 00:10:21,080 Speaker 1: was decided in round number six. PO brings it up 187 00:10:21,120 --> 00:10:24,760 Speaker 1: across the line on Christ moves in, he shoots and 188 00:10:24,960 --> 00:10:29,280 Speaker 1: a pants save by Thomas Christ and the rug Wings 189 00:10:29,320 --> 00:10:33,040 Speaker 1: win this one and a shootout Chris with the big 190 00:10:33,080 --> 00:10:36,920 Speaker 1: save on Heatle and the final score. Tonight in New York, 191 00:10:36,960 --> 00:10:39,880 Speaker 1: the Red Weeks three and the New York Rangers to 192 00:10:40,840 --> 00:10:43,120 Speaker 1: radio had the call Rangers got called some KeAndre Miller 193 00:10:43,120 --> 00:10:45,520 Speaker 1: and make his advantage at his advantage at also sport 194 00:10:45,559 --> 00:10:46,800 Speaker 1: him shoot that, but that he's the only one to 195 00:10:46,880 --> 00:10:49,200 Speaker 1: dick Islanders three goals in the third period. They end 196 00:10:49,200 --> 00:10:51,440 Speaker 1: of three game losing Streek. They beat the Bruins four 197 00:10:51,440 --> 00:10:54,880 Speaker 1: to one at Barkley's no fourth quarter heroics this time, 198 00:10:55,200 --> 00:10:57,800 Speaker 1: like the Nets had Wednesday against the Knicks, Washington beat 199 00:10:57,800 --> 00:10:59,880 Speaker 1: Brooklyn one seventeen one h three the NBA and now 200 00:11:00,000 --> 00:11:02,959 Speaker 1: against All Star weekend in Cleveland. The highlight figures to 201 00:11:03,040 --> 00:11:06,040 Speaker 1: be the introduction Sunday Night of the top seventy five 202 00:11:06,080 --> 00:11:09,320 Speaker 1: players and this the NBA seventy fifth season. Nick's represented 203 00:11:09,640 --> 00:11:12,160 Speaker 1: by the likes of Patrick Ewing, Willis Reid, Walf Frazier, 204 00:11:12,240 --> 00:11:15,120 Speaker 1: Earl Monroe and the late day to Bush College hoofs. 205 00:11:15,160 --> 00:11:17,920 Speaker 1: Wagner keeps winning now eighteen and three. After the win 206 00:11:17,960 --> 00:11:20,920 Speaker 1: over Sacred Art. Rutgers has won four strate all coming 207 00:11:20,920 --> 00:11:23,640 Speaker 1: against top twenty five teams and they play fifth rank 208 00:11:23,679 --> 00:11:25,840 Speaker 1: per New on Sunday, but may not have top score. 209 00:11:25,960 --> 00:11:28,640 Speaker 1: Ron Harper Jr. Has got a hand injury. Baseball was 210 00:11:28,679 --> 00:11:31,760 Speaker 1: to start exhibition games next weekend. Obviously that is not 211 00:11:31,800 --> 00:11:34,760 Speaker 1: going to happen with the lockout now seventy eight days long, 212 00:11:34,760 --> 00:11:37,200 Speaker 1: and MLB says they need a labor deal by the 213 00:11:37,240 --> 00:11:39,560 Speaker 1: end of February if they're able to start the season 214 00:11:39,559 --> 00:11:43,240 Speaker 1: on top. John Stashar Boomberg Sports. John, all right, John, 215 00:11:43,280 --> 00:11:44,959 Speaker 1: thanks very much. Ahead of the cash show full on 216 00:11:45,040 --> 00:11:48,120 Speaker 1: Wall Street this morning. Futures indicate a higher open. We 217 00:11:48,200 --> 00:11:52,079 Speaker 1: have down futures right now one sixteen points higher, and 218 00:11:52,240 --> 00:11:55,400 Speaker 1: he has and be immunate futures up twenty points and 219 00:11:55,520 --> 00:11:59,360 Speaker 1: then said futures they were off eighties six points. Tend 220 00:11:59,360 --> 00:12:02,480 Speaker 1: your treasure, you right now at one point fine six percent. 221 00:12:03,120 --> 00:12:09,280 Speaker 1: This is Bloomberg and the Bloomberg Weather called Rob Carolin 222 00:12:09,400 --> 00:12:12,480 Speaker 1: when the advisory that's an effect through ten o'clock this morning, 223 00:12:12,760 --> 00:12:16,600 Speaker 1: showers ending this morning, clearing this afternoon at temperatures will 224 00:12:16,640 --> 00:12:23,360 Speaker 1: fall through much of the day. Business Bloomberg Markets headlines 225 00:12:23,400 --> 00:12:26,400 Speaker 1: and breaking news twenty four hours a day at Bloomberg 226 00:12:26,440 --> 00:12:30,040 Speaker 1: dot com, The Bloomberg Business Atland at Bloomberg Victaque, this 227 00:12:30,480 --> 00:12:39,400 Speaker 1: is a Bloomberg business lash and I'm Karen Moscow and 228 00:12:39,440 --> 00:12:42,120 Speaker 1: stocks are rising as plant talks between Russia and the 229 00:12:42,200 --> 00:12:46,320 Speaker 1: US over Ukraine alleviates some investor gloom about geopolitical risks. 230 00:12:46,520 --> 00:12:48,880 Speaker 1: We checked the markets every fifteen minutes throughout the trading 231 00:12:48,960 --> 00:12:52,000 Speaker 1: day on Bloomberg SMP future is up twenty two points 232 00:12:52,040 --> 00:12:54,840 Speaker 1: and down. Futures up a hundred thirty nasdack futures up 233 00:12:54,920 --> 00:12:57,160 Speaker 1: ninety eight. Attacks in Germany is down about a tenth 234 00:12:57,200 --> 00:12:59,960 Speaker 1: of upper set ten. Your treasury down one thirty second 235 00:13:00,040 --> 00:13:02,080 Speaker 1: yet one point nine six percent they yield on the 236 00:13:02,120 --> 00:13:05,160 Speaker 1: two year one point four eight percent. Nimex cord oil 237 00:13:05,280 --> 00:13:07,199 Speaker 1: is falling down to in a quarter percent, down two 238 00:13:07,200 --> 00:13:09,960 Speaker 1: dollars eight cents at eighty nine dollars sixty eight cents 239 00:13:10,000 --> 00:13:12,640 Speaker 1: of barrel comes golled down four ten percent or seven 240 00:13:12,640 --> 00:13:16,240 Speaker 1: dollars ninety cents at eight ten announced. The euro one 241 00:13:16,240 --> 00:13:18,679 Speaker 1: point one three six six against the dollar. British found 242 00:13:18,679 --> 00:13:21,120 Speaker 1: one point three six two zero. The ends at one 243 00:13:21,160 --> 00:13:25,040 Speaker 1: fifteen point one seven and Bitcoin this morning higher at 244 00:13:25,080 --> 00:13:28,040 Speaker 1: forty thousand, eight hundred twenty dollars. Today, we are watching 245 00:13:28,040 --> 00:13:30,840 Speaker 1: for reports on existing home sales at at ten o'clock 246 00:13:30,880 --> 00:13:34,480 Speaker 1: Wall Street Time, along with leading indicators. Deering Company and 247 00:13:34,559 --> 00:13:38,000 Speaker 1: Draft Kings are among companies schedule to report earnings today. 248 00:13:38,400 --> 00:13:41,280 Speaker 1: That's a Bloomberg business flash. Now here's John Tucker with 249 00:13:41,360 --> 00:13:43,920 Speaker 1: Moore on what's going on around the world. John, good morning, 250 00:13:44,080 --> 00:13:46,959 Speaker 1: and good morning, Karen. President Biden warns the probability of 251 00:13:47,040 --> 00:13:50,760 Speaker 1: an invasion of Ukraine's still very high. Russian Foreign Minister 252 00:13:50,920 --> 00:13:54,040 Speaker 1: Lavrov has agreed to meet with Secretary of State Anthony B. 253 00:13:54,080 --> 00:13:57,880 Speaker 1: Lincolnford talks in Europe next week. Jodge has ruled at 254 00:13:57,920 --> 00:14:01,199 Speaker 1: former President Donald Trump must answer questions under oath in 255 00:14:01,240 --> 00:14:05,400 Speaker 1: New York States civiled investigation into his business practices and 256 00:14:05,440 --> 00:14:08,920 Speaker 1: the House. Republican leader Kevin McCarthy took the unusual step 257 00:14:08,960 --> 00:14:13,760 Speaker 1: of endorsing the primary opponent of incumbent Republican Representative Liz Cheney. Sports. 258 00:14:14,080 --> 00:14:17,480 Speaker 1: The Rangers fall to the Red Wings. That a shootout. 259 00:14:17,800 --> 00:14:21,280 Speaker 1: The Islanders beat the Bruins, the Capital's Top the Flyers, NBA, 260 00:14:21,720 --> 00:14:25,080 Speaker 1: the Wizards, They beat the Nets. Global News twenty four 261 00:14:25,120 --> 00:14:27,440 Speaker 1: hours a day on the air in a Bloomberg Quicktake. 262 00:14:27,520 --> 00:14:31,040 Speaker 1: We're powered by more than journalists and analysts in more 263 00:14:31,040 --> 00:14:35,760 Speaker 1: than one twenty countries. I'm John Tucker. This is Bloomberg. Nathan. Okay, John, 264 00:14:35,800 --> 00:14:38,080 Speaker 1: thank you. It's five nineteen on Wall Street Live from 265 00:14:38,080 --> 00:14:41,400 Speaker 1: the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak. I'm 266 00:14:41,480 --> 00:14:44,440 Speaker 1: Nathan Hagar. All week it has been all about the 267 00:14:44,560 --> 00:14:48,640 Speaker 1: standoff with Russia and concerns Moscow could invade Ukraine. The 268 00:14:48,720 --> 00:14:52,280 Speaker 1: Kremlin denies any plans to do so. The latest development 269 00:14:52,360 --> 00:14:54,800 Speaker 1: is a planned meeting between the US and Russia next 270 00:14:54,840 --> 00:14:58,080 Speaker 1: week in hopes of avoiding conflict. Let's get more on 271 00:14:58,120 --> 00:15:02,040 Speaker 1: this situation now from the perspective Ukraine. Axanda Markarova is 272 00:15:02,200 --> 00:15:05,120 Speaker 1: Ukraine's ambassador to the United States. She sat down for 273 00:15:05,120 --> 00:15:08,160 Speaker 1: an interview with Bloomberg Samrie Hordern late yesterday. Let's listen 274 00:15:08,160 --> 00:15:12,640 Speaker 1: into that conversation. Now, President Zelinski has a lot of 275 00:15:12,680 --> 00:15:17,640 Speaker 1: times really downplayed a large scale invasion. So would you 276 00:15:17,680 --> 00:15:20,240 Speaker 1: say that the Ukrainian government falling back to the U 277 00:15:20,320 --> 00:15:25,600 Speaker 1: S intelligence reports? I would say that my president didn't 278 00:15:26,000 --> 00:15:30,280 Speaker 1: downgrade and didn't downplay You just have to understand that 279 00:15:30,320 --> 00:15:32,800 Speaker 1: this is the situation in which Ukraine lives for the 280 00:15:32,800 --> 00:15:36,840 Speaker 1: past eight years, the risks and the information and every 281 00:15:36,920 --> 00:15:41,080 Speaker 1: since we have from our intelligence and from our armed forces, 282 00:15:41,120 --> 00:15:43,360 Speaker 1: and we of course compare the notes with all of 283 00:15:43,400 --> 00:15:46,560 Speaker 1: our strategic friends and allies, and we see the risks. 284 00:15:46,840 --> 00:15:49,080 Speaker 1: We know that the risk is there, We know that 285 00:15:49,520 --> 00:15:53,960 Speaker 1: the intent to attact is there. We not only know it, 286 00:15:54,080 --> 00:15:56,320 Speaker 1: we experienced it for the past eight years. Now we 287 00:15:56,360 --> 00:16:01,680 Speaker 1: cannot afford to panic. So while others can talk about 288 00:16:01,840 --> 00:16:05,640 Speaker 1: aggression only we also and our president and our leaders 289 00:16:05,680 --> 00:16:10,840 Speaker 1: have to talk about how country without panic moves on 290 00:16:11,200 --> 00:16:15,680 Speaker 1: and uh goes with ordinary life, but also get prepared. 291 00:16:16,000 --> 00:16:18,600 Speaker 1: Panic is not something that we need to get prepared. 292 00:16:18,680 --> 00:16:21,040 Speaker 1: Panic that what Putin wants us to the state to 293 00:16:21,080 --> 00:16:24,320 Speaker 1: be in. We will not panic. We will quietly prepare 294 00:16:24,520 --> 00:16:27,520 Speaker 1: and will resist. But within President United States saying an 295 00:16:27,520 --> 00:16:30,720 Speaker 1: invasion is very high, is it time potentially to up 296 00:16:30,880 --> 00:16:34,480 Speaker 1: the ratarc in Ukraine to prepare your people if that 297 00:16:34,520 --> 00:16:40,400 Speaker 1: were to happen. We are our armed forces, very motivated, 298 00:16:40,600 --> 00:16:44,400 Speaker 1: very capable, are on high alert and they again have 299 00:16:44,560 --> 00:16:48,080 Speaker 1: been on high alert for quite some time. We are preparing, 300 00:16:48,120 --> 00:16:51,040 Speaker 1: not only in the east, but essentially right now there 301 00:16:51,040 --> 00:16:56,200 Speaker 1: are trainings throughout the country, military exercises. President Zelenski visited 302 00:16:56,720 --> 00:17:01,480 Speaker 1: even UH Donetsk Oblast is every day in two or 303 00:17:01,560 --> 00:17:07,760 Speaker 1: three locations essentially east, West, South and UH norst visiting 304 00:17:08,760 --> 00:17:12,320 Speaker 1: there aren't forces and UH talking to our military and 305 00:17:12,440 --> 00:17:16,520 Speaker 1: seeing the places the territorial defense, the new law that 306 00:17:16,640 --> 00:17:21,359 Speaker 1: we have adopted and started UH working as as early 307 00:17:21,520 --> 00:17:25,400 Speaker 1: as first of January. We already see this very capable 308 00:17:25,480 --> 00:17:30,800 Speaker 1: network of territorial defense UH units being created and actually 309 00:17:30,880 --> 00:17:33,560 Speaker 1: a number of Ukrainian civilians, lots of friends of mine 310 00:17:33,640 --> 00:17:35,639 Speaker 1: finance here is, are signing up to be part of 311 00:17:35,680 --> 00:17:39,840 Speaker 1: the territorial defense. So no, if we are not panicking, 312 00:17:40,000 --> 00:17:42,879 Speaker 1: and we are not writing that we are panicking, it 313 00:17:42,960 --> 00:17:46,000 Speaker 1: doesn't mean we are not preparing. Ukrainians are preparing. I 314 00:17:46,080 --> 00:17:49,880 Speaker 1: did I use the phrase, you know, the grace under pressure, 315 00:17:49,960 --> 00:17:53,160 Speaker 1: which I didn't invent, but I think that describes very 316 00:17:53,240 --> 00:17:56,479 Speaker 1: well what Ukraine is doing right now. President's Lensky had 317 00:17:56,480 --> 00:17:59,000 Speaker 1: a speech the other day which panicked the financial markets 318 00:17:59,040 --> 00:18:01,960 Speaker 1: when it which trans lated and posted in English what 319 00:18:02,119 --> 00:18:05,200 Speaker 1: he said in Ukrainian, and his sentiment was quite tongue 320 00:18:05,240 --> 00:18:09,480 Speaker 1: in cheek. This is how he communicates. But are you concerned, 321 00:18:09,640 --> 00:18:12,359 Speaker 1: given we saw that impact in the financial markets globally, 322 00:18:12,520 --> 00:18:16,879 Speaker 1: are you concerned about the capital the businessmen and women 323 00:18:17,320 --> 00:18:21,520 Speaker 1: leaving Ukraine right now? Well, that's another very good reason 324 00:18:21,720 --> 00:18:25,359 Speaker 1: why we do not panic and why they're very careful 325 00:18:25,400 --> 00:18:28,840 Speaker 1: in our communication, because we need to finance the budget, 326 00:18:29,200 --> 00:18:31,680 Speaker 1: We need to pay the salaries and pensions, We need 327 00:18:31,760 --> 00:18:34,280 Speaker 1: to continue our business, need to continue to work. We 328 00:18:34,359 --> 00:18:37,600 Speaker 1: need to support uh and and preserve the all the 329 00:18:37,720 --> 00:18:43,600 Speaker 1: achievements that financial budgetary system and in general Ukraine achieved 330 00:18:43,720 --> 00:18:48,760 Speaker 1: during the past eight years. So we saw how each 331 00:18:48,800 --> 00:18:53,199 Speaker 1: announcement affect the market right away, and we saw how 332 00:18:53,359 --> 00:18:56,680 Speaker 1: positive announcement like with the United States providing US with 333 00:18:56,800 --> 00:19:00,200 Speaker 1: one billion new solver and guarantee actually come to the 334 00:19:00,280 --> 00:19:03,600 Speaker 1: market on on that guarantee, What are going to be 335 00:19:03,680 --> 00:19:06,320 Speaker 1: the sticking points that you're going to have to provide 336 00:19:06,359 --> 00:19:09,320 Speaker 1: in order to get that a billion dollar sovereign loan. 337 00:19:10,240 --> 00:19:14,720 Speaker 1: We're discussing the Ministry of Finances discussing it now with 338 00:19:14,840 --> 00:19:18,840 Speaker 1: our US partners. But you saw that right now, all 339 00:19:18,920 --> 00:19:22,639 Speaker 1: of our strategic partners, United States, European Union and others 340 00:19:22,760 --> 00:19:27,320 Speaker 1: are providing this quick solutions in order to help us 341 00:19:27,440 --> 00:19:30,520 Speaker 1: and help to finance the budget, but also to show 342 00:19:30,600 --> 00:19:34,960 Speaker 1: the science of support. But other preconditions to that, uh 343 00:19:35,240 --> 00:19:37,840 Speaker 1: not that, not that I know. And that was Ukraine's 344 00:19:37,840 --> 00:19:41,520 Speaker 1: ambassador to the United States, Axana Markarova, speaking with Bloomberg's 345 00:19:41,560 --> 00:19:44,800 Speaker 1: Emory Hordern about the current standoff with Russia. And you 346 00:19:44,880 --> 00:19:47,760 Speaker 1: can catch more of their conversation. We have it online 347 00:19:48,200 --> 00:19:50,440 Speaker 1: at Bloomberg dot com. As we watch. A bit of 348 00:19:50,520 --> 00:19:53,600 Speaker 1: relief to markets this morning onward that the US and 349 00:19:53,680 --> 00:19:57,200 Speaker 1: Russia will keep talking next week. SMP futures are twenty 350 00:19:57,280 --> 00:19:59,360 Speaker 1: three point, staff futures up a hundred thirty four. Nast 351 00:19:59,440 --> 00:20:03,080 Speaker 1: AT futures are higher by ninety nine points. This is 352 00:20:03,119 --> 00:20:08,320 Speaker 1: Bloomberg and thanks Nathan. No relief of the weather. We 353 00:20:08,400 --> 00:20:10,960 Speaker 1: have a wind advisory in effect through ten this morning. 354 00:20:11,000 --> 00:20:14,400 Speaker 1: Showers will end early, We'll have some clearing this afternoon, 355 00:20:14,520 --> 00:20:17,800 Speaker 1: windy with temperatures falling through much of the day. This 356 00:20:18,240 --> 00:20:25,960 Speaker 1: is Bloomberg broadcasting live from the Bloomberg Interacted Brokery Studio 357 00:20:26,080 --> 00:20:29,280 Speaker 1: in New York. Bloomberg elom Freedom to Washington, d C, 358 00:20:29,440 --> 00:20:33,320 Speaker 1: Bloomberg one to Boston, Bloomberg one O six one to 359 00:20:33,400 --> 00:20:37,120 Speaker 1: San Francisco, Bloomberg nine sixty to the country, Sirius XM 360 00:20:37,200 --> 00:20:40,040 Speaker 1: to A one nine and around the globe of Bloomberg 361 00:20:40,080 --> 00:20:44,520 Speaker 1: Business app and Bloomberg Radio dot Com. This is Bloomberg Daybreak. 362 00:20:50,520 --> 00:20:52,680 Speaker 1: It's five thirty on Wall Street. Good morning, I'm Nathan 363 00:20:52,720 --> 00:20:55,879 Speaker 1: Hagar and I'm Kared Moscow or just about four hours 364 00:20:55,920 --> 00:20:58,000 Speaker 1: away from the open of US trading. Let's get you 365 00:20:58,080 --> 00:20:59,320 Speaker 1: up to date on the news you need to know 366 00:20:59,400 --> 00:21:02,280 Speaker 1: at this hour. Our stocks are rising this morning. Despite 367 00:21:02,320 --> 00:21:05,800 Speaker 1: ongoing geo political tension, Sentiment is getting a boost from 368 00:21:05,840 --> 00:21:08,959 Speaker 1: word of plan talks between the US and Russia. Russian 369 00:21:09,040 --> 00:21:11,960 Speaker 1: Foreign Minister Serge lov Rov has agreed to meet Secretary 370 00:21:12,000 --> 00:21:15,000 Speaker 1: of State Anthony B. Lincoln in Europe next week. They 371 00:21:15,080 --> 00:21:18,879 Speaker 1: caught up with former UN Ambassador Thomas Pickering. I have 372 00:21:19,119 --> 00:21:22,320 Speaker 1: that bad feeling in my gut and will have it 373 00:21:22,480 --> 00:21:25,600 Speaker 1: until a week begin to see something that is more 374 00:21:25,680 --> 00:21:30,280 Speaker 1: than declarations, which begins to move us away from confrontation 375 00:21:30,880 --> 00:21:35,600 Speaker 1: and towards a workout. And former UN Ambassador Thomas Pickering 376 00:21:35,720 --> 00:21:38,960 Speaker 1: spoke with our Washington corresponded Joe Matthew on Bloomberg Sound 377 00:21:39,040 --> 00:21:42,040 Speaker 1: on Catch the program, weekdays at five pm Eastern on 378 00:21:42,160 --> 00:21:45,480 Speaker 1: Bloomberg Radio. Well, it's not just geopolitical concerns, Karen. The 379 00:21:45,560 --> 00:21:48,919 Speaker 1: prospect of interest rate hikes to tame red hot inflation 380 00:21:49,119 --> 00:21:52,160 Speaker 1: has also contributed to the recent sell off. St. Louis 381 00:21:52,240 --> 00:21:55,439 Speaker 1: FED President Jim Bullard says bringing down inflation may require 382 00:21:55,520 --> 00:21:58,040 Speaker 1: the Central Bank to do more. He thinks officials may 383 00:21:58,080 --> 00:22:00,600 Speaker 1: need to overshoot the neutral target into straight which he 384 00:22:00,680 --> 00:22:04,720 Speaker 1: sees at around two. Investors have also been slamming stocks 385 00:22:04,800 --> 00:22:08,000 Speaker 1: on earnings and Mrs Nathan. In fact, Meta Platforms, the 386 00:22:08,080 --> 00:22:10,320 Speaker 1: parent of Facebook, has tumbled out of the world's ten 387 00:22:10,440 --> 00:22:13,679 Speaker 1: largest companies by market value that has been hammered by 388 00:22:13,760 --> 00:22:17,359 Speaker 1: its worst monthly decline ever all. Speaking of getting hammered, Karen, 389 00:22:17,359 --> 00:22:19,800 Speaker 1: look at shares of Roku this morning. They're down nearly 390 00:22:19,920 --> 00:22:23,000 Speaker 1: twenty five percent in early trading thanks to an earning Smiths. 391 00:22:23,240 --> 00:22:26,320 Speaker 1: We get the details from Bloomberg's Lisa Matteo. The streaming 392 00:22:26,440 --> 00:22:29,920 Speaker 1: video platform company reported fourth quarter revenue and issued a 393 00:22:30,040 --> 00:22:34,360 Speaker 1: first quarter sales forecast that both fell short of analysts estimates. 394 00:22:34,560 --> 00:22:38,160 Speaker 1: The company's chief financial officers said supply chain disruptions were 395 00:22:38,200 --> 00:22:40,840 Speaker 1: a headwind for the company Roku was one of the 396 00:22:40,920 --> 00:22:43,880 Speaker 1: stay at home winners during the pandemic. It's stock gained 397 00:22:43,920 --> 00:22:48,520 Speaker 1: nearly one fifty percent in as Covid accelerated this shift 398 00:22:48,640 --> 00:22:53,640 Speaker 1: towards streaming video among consumers. Lisa Matteo, Bloomberg Daybreak. All right, Lisa, 399 00:22:53,720 --> 00:22:55,840 Speaker 1: thank you, and speaking of the pandemic, the White House 400 00:22:55,960 --> 00:22:58,960 Speaker 1: is warning that COVID cash is drying up. It's telling 401 00:22:59,080 --> 00:23:01,720 Speaker 1: Congress that the West does not have enough money on 402 00:23:01,920 --> 00:23:06,159 Speaker 1: hand to deal with future coronavirus variants, to stockpile vaccines, 403 00:23:06,280 --> 00:23:08,920 Speaker 1: or to develop new technologies. The Department of Health and 404 00:23:09,000 --> 00:23:12,359 Speaker 1: Human Services is asking for thirty billion dollars to prepare 405 00:23:12,480 --> 00:23:15,920 Speaker 1: for new waves of the virus. And futures this morning 406 00:23:16,000 --> 00:23:19,120 Speaker 1: are on the rise. SNP futures up about twenty three 407 00:23:19,160 --> 00:23:23,040 Speaker 1: points down, futures up on three NASDACK futures up a 408 00:23:23,119 --> 00:23:25,639 Speaker 1: hundred and a ten year treasury down one thirty second. 409 00:23:26,000 --> 00:23:29,639 Speaker 1: They yield one point nine six percent. Straight ahead, your 410 00:23:29,680 --> 00:23:32,760 Speaker 1: latest local headlines plus a check of sports, and this 411 00:23:33,320 --> 00:23:40,040 Speaker 1: is Bloomberg that brings this to five thirty three on 412 00:23:40,119 --> 00:23:41,880 Speaker 1: Wall Street. Time to take a look at what's going 413 00:23:41,920 --> 00:23:44,800 Speaker 1: on in New York and around the world with Bloomberg's 414 00:23:44,840 --> 00:23:47,440 Speaker 1: John Tucker, Good Morning, John, Good Morning Nathan to plead 415 00:23:47,480 --> 00:23:50,720 Speaker 1: the fifth or not? That's the question facing Donald Trump 416 00:23:51,000 --> 00:23:53,440 Speaker 1: after a New York judge ordered the former president to 417 00:23:53,560 --> 00:23:57,119 Speaker 1: testify it a long running state civil investigation into his 418 00:23:57,240 --> 00:24:01,239 Speaker 1: business practices. Barring is successful, at peel, Trump would face 419 00:24:01,280 --> 00:24:05,119 Speaker 1: a decision between answering Attorney General Letitia James questions or 420 00:24:05,200 --> 00:24:09,320 Speaker 1: invoking his protection against self incrimination. Trump has auten equated 421 00:24:09,359 --> 00:24:12,240 Speaker 1: in such silence with evidence of guilt. A New York 422 00:24:12,280 --> 00:24:15,280 Speaker 1: state trooper, it testified that former Governor Andrew Cuomo sexually 423 00:24:15,359 --> 00:24:18,359 Speaker 1: harassed her, is now suing him. She says Cuomo, a 424 00:24:18,480 --> 00:24:21,720 Speaker 1: top aid and state police violated her civil rights. The 425 00:24:21,800 --> 00:24:24,359 Speaker 1: trooper's name was not disclosed in the lawsuit, which was 426 00:24:24,440 --> 00:24:27,920 Speaker 1: filed in Manhattan. The wealthy Long Island resort of East 427 00:24:27,920 --> 00:24:31,919 Speaker 1: Hampton delaying the plan closing of its airport until May seventeenth, 428 00:24:32,320 --> 00:24:36,280 Speaker 1: the story from Bloomberg's Charlie Pellett. The Federal Aviation Administration 429 00:24:36,359 --> 00:24:39,280 Speaker 1: warned of flaws in the New York town's efforts to 430 00:24:39,359 --> 00:24:43,000 Speaker 1: reduce noise from air traffic. Last month, the town's board 431 00:24:43,119 --> 00:24:45,240 Speaker 1: voted to shut down the airport at the end of 432 00:24:45,280 --> 00:24:48,520 Speaker 1: February and reopen it as a more limited youth facility 433 00:24:48,560 --> 00:24:51,360 Speaker 1: on March fourth. East Hampton was looking to cut down 434 00:24:51,440 --> 00:24:54,400 Speaker 1: on air traffic that has grown in recent years as 435 00:24:54,560 --> 00:24:57,840 Speaker 1: right share apps make helicopter and plane travel easier, but 436 00:24:57,960 --> 00:25:00,920 Speaker 1: the FAA warned that if the town close the airfield, 437 00:25:01,200 --> 00:25:04,200 Speaker 1: it could take as many as two years to reopen. 438 00:25:04,920 --> 00:25:08,640 Speaker 1: In New York, Charlie Pellette blue Bird Daybreak Gillery Clinton 439 00:25:08,720 --> 00:25:11,679 Speaker 1: Bank in the spotlight, tearing into the GOP and mocking 440 00:25:11,800 --> 00:25:15,200 Speaker 1: Donald Trump during his speech at New York's Democratic Convention 441 00:25:15,320 --> 00:25:18,560 Speaker 1: last night. They'll make it harder for people to vote, 442 00:25:18,680 --> 00:25:22,800 Speaker 1: but easier for big corporations to bust unions. They'll let 443 00:25:22,960 --> 00:25:26,919 Speaker 1: polluters trash our environment and let Donald Trump trash our 444 00:25:26,960 --> 00:25:30,920 Speaker 1: democracy and the convention Governor Kathy Hokol accepted the state 445 00:25:30,960 --> 00:25:34,480 Speaker 1: Democratic Party's nomination as their candidate in the twenty two 446 00:25:34,520 --> 00:25:37,920 Speaker 1: governors race. Thousands of New Jersey households will soon be 447 00:25:38,000 --> 00:25:41,680 Speaker 1: getting notified that their residents has have led service lines 448 00:25:41,760 --> 00:25:44,760 Speaker 1: and will be replaced over the next decade under a 449 00:25:45,800 --> 00:25:48,600 Speaker 1: state law. That's according to the Commissioner of the d 450 00:25:48,720 --> 00:25:51,600 Speaker 1: e P. Just how quickly the lines will be replaced 451 00:25:51,640 --> 00:25:55,000 Speaker 1: still isn't clear. A new poll shows climate change he 452 00:25:55,119 --> 00:25:57,600 Speaker 1: is seen as a bigger threat in war by a 453 00:25:57,680 --> 00:26:00,280 Speaker 1: majority of people living in some of the world's topic base. 454 00:26:00,600 --> 00:26:03,320 Speaker 1: The poll was commissioned by the Munich Security Conference. It 455 00:26:03,480 --> 00:26:07,560 Speaker 1: listed concern over global warming, habitat distraction, and extreme weather 456 00:26:07,720 --> 00:26:11,200 Speaker 1: as the top three risks. Global news twenty four hours 457 00:26:11,240 --> 00:26:13,639 Speaker 1: a day on the ariand on Bloomberg Quicktake, We're powered 458 00:26:13,680 --> 00:26:16,399 Speaker 1: by more than twenty seven hundred journalists and analysts and 459 00:26:16,560 --> 00:26:19,680 Speaker 1: more than one d twenty countries. I'm John Tucker at 460 00:26:19,760 --> 00:26:27,399 Speaker 1: this is Bloomberg, and that brings us to five thirties 461 00:26:27,440 --> 00:26:30,280 Speaker 1: six on Wall Street. It's time for the Bloomberg Sports UPDA. 462 00:26:30,400 --> 00:26:33,200 Speaker 1: Good morning, John Stesshour, All right, thanks John. NBA has 463 00:26:33,280 --> 00:26:35,480 Speaker 1: hit the All Star break. The games Sunday in Cleveland. 464 00:26:35,560 --> 00:26:37,680 Speaker 1: Nick fan seemed to love Obi Toppin and he'll be 465 00:26:37,760 --> 00:26:40,240 Speaker 1: in tomorrow Night's slam Dunk competition. The Nets hit the 466 00:26:40,280 --> 00:26:44,080 Speaker 1: break thirty one recent eleven game losing streak one a 467 00:26:44,160 --> 00:26:46,639 Speaker 1: couple of games, including the epic comeback against the Knicks 468 00:26:46,720 --> 00:26:49,440 Speaker 1: last night of COVID make up their third game and 469 00:26:49,480 --> 00:26:51,800 Speaker 1: four nights and the Nets lost at Barclays to Washington 470 00:26:52,240 --> 00:26:54,960 Speaker 1: one seventeen one oh three. Coach Steve Nash asked about 471 00:26:55,000 --> 00:26:56,879 Speaker 1: the rest of the scenes that we're excited, you know, 472 00:26:57,000 --> 00:27:00,920 Speaker 1: we uh two games to to kind of come together 473 00:27:00,960 --> 00:27:06,600 Speaker 1: as a team with Kevin returning, Ben returning. Um, you know, 474 00:27:06,640 --> 00:27:08,639 Speaker 1: hopefully we had a good run of health where we 475 00:27:08,720 --> 00:27:10,880 Speaker 1: can really build something in a short period of time 476 00:27:10,960 --> 00:27:13,200 Speaker 1: and get to get a you know, a better seed 477 00:27:13,280 --> 00:27:16,600 Speaker 1: and also more cohesion going into the playoffs. Nash reference 478 00:27:16,680 --> 00:27:19,000 Speaker 1: Kevin Duran has been out the past month. Ben Simmons 479 00:27:19,080 --> 00:27:21,359 Speaker 1: the new acquisition, not knowing when. Hill making his nets 480 00:27:21,400 --> 00:27:23,520 Speaker 1: debut with the Garden Rangers and Red Wings went to 481 00:27:23,560 --> 00:27:26,159 Speaker 1: a shootout. Rangers tied the game and on making advantage 482 00:27:26,200 --> 00:27:27,879 Speaker 1: at power play goal eight minutes left, and then he 483 00:27:27,960 --> 00:27:31,040 Speaker 1: scored on the Rangers first shootout attemp, but the next 484 00:27:31,160 --> 00:27:34,359 Speaker 1: five didn't score in six rounds Detroit one. Bring it 485 00:27:34,400 --> 00:27:37,680 Speaker 1: to the ex Islander. Thomas Grice made thirties seven saves, 486 00:27:37,760 --> 00:27:39,679 Speaker 1: five more than the shootout. That's for the Islanders. They 487 00:27:39,760 --> 00:27:41,719 Speaker 1: beat the Bruins at the Ubus Arena four to one, 488 00:27:42,080 --> 00:27:44,959 Speaker 1: two sides. The baseball lockout met and it lasted all 489 00:27:45,040 --> 00:27:47,680 Speaker 1: of fifteen minutes. Things not going well and trying to 490 00:27:47,720 --> 00:27:49,520 Speaker 1: get a labor deal done, they go scheduled me again. 491 00:27:49,560 --> 00:27:52,399 Speaker 1: On Monday. At the Olympics, US lost to Canada in 492 00:27:52,400 --> 00:27:54,680 Speaker 1: the bronze medal game. For Curlin, US had won a 493 00:27:54,760 --> 00:27:58,600 Speaker 1: surprising goal four years ago. Eileen Goo lives in San Francisco, 494 00:27:58,720 --> 00:28:01,880 Speaker 1: but competed for China. UH captive Big Run of Freestyle 495 00:28:02,000 --> 00:28:05,440 Speaker 1: ski won her third medal, her second goal. Don's Cash 496 00:28:05,680 --> 00:28:08,800 Speaker 1: Boomberg Sports Doon Jean thanks a lot five thirty eight 497 00:28:08,880 --> 00:28:11,920 Speaker 1: on Wall streetsigned out for the Tri State Business Report 498 00:28:12,080 --> 00:28:15,680 Speaker 1: and for that we're joined by Bloomberg's ed Quarry. Amazon 499 00:28:15,840 --> 00:28:18,800 Speaker 1: and workers at a company warehouse in Staten Island have 500 00:28:18,960 --> 00:28:21,760 Speaker 1: reached a tenant of agreement to hold a union election. 501 00:28:22,000 --> 00:28:24,840 Speaker 1: The National Labor Relations Board sent it will announce the 502 00:28:24,880 --> 00:28:28,280 Speaker 1: election timing and format at a later date. Earlier, the 503 00:28:28,359 --> 00:28:31,040 Speaker 1: Amazon labor Union set a vote would be held from 504 00:28:31,080 --> 00:28:36,040 Speaker 1: March to marcht A luxury duplex penthouse in one eleven 505 00:28:36,160 --> 00:28:40,400 Speaker 1: West fifty seventh Street, a skyscraper in New York's Billionaires Row, 506 00:28:40,840 --> 00:28:44,440 Speaker 1: sold for about fifty four million dollars. That's according to 507 00:28:44,560 --> 00:28:48,240 Speaker 1: JDS Development Group, which developed the building. Along with Property 508 00:28:48,320 --> 00:28:51,840 Speaker 1: Markets Group and Spruce Capital Partners. The private schools for 509 00:28:51,920 --> 00:28:55,000 Speaker 1: New York's wealthy are set to get even more exclusive 510 00:28:55,440 --> 00:28:58,720 Speaker 1: price tag for an education at top tier institutions will 511 00:28:59,000 --> 00:29:02,600 Speaker 1: scale new highs of the upcoming academic gear with tuition 512 00:29:02,720 --> 00:29:06,360 Speaker 1: increases of up to five percent. At least two schools 513 00:29:06,400 --> 00:29:09,480 Speaker 1: have eclipsed the sixty thou dollar a year mark. That's 514 00:29:09,520 --> 00:29:13,360 Speaker 1: your Bloomberg Try State Business Report. I med Corey. Thanks 515 00:29:13,440 --> 00:29:16,760 Speaker 1: that it is five thirty eight on Wall Street. Bloomberg 516 00:29:16,880 --> 00:29:19,960 Speaker 1: Radio is on the air from San Francisco to New York, 517 00:29:20,160 --> 00:29:22,560 Speaker 1: London to Hong Kong. Let's check in now with our 518 00:29:22,560 --> 00:29:25,240 Speaker 1: global news team for some of the top stories heard 519 00:29:25,280 --> 00:29:29,040 Speaker 1: on our three hundred affiliate radio stations around the world. 520 00:29:32,120 --> 00:29:35,800 Speaker 1: I'm Corny Donahoe on Cafe bian Omaha, rising beef fork 521 00:29:35,880 --> 00:29:39,120 Speaker 1: and egg costmic food inflation hard to Escape. I'm Gina 522 00:29:39,200 --> 00:29:42,040 Speaker 1: Servetti and for w b b M in Chicago, I'm 523 00:29:42,120 --> 00:29:45,320 Speaker 1: reporting on Boeing's plans to help clean up the aviation 524 00:29:45,440 --> 00:29:49,400 Speaker 1: industry by using sustainable fuel. I'm Caroline Head cal bloom 525 00:29:49,400 --> 00:29:52,720 Speaker 1: by dab Dishuato in London. We're reporting on red weather 526 00:29:52,840 --> 00:29:56,200 Speaker 1: warnings for the UK as still units could bring Hurricane 527 00:29:56,320 --> 00:29:59,680 Speaker 1: fourth wind I med corey on w w J and 528 00:29:59,720 --> 00:30:02,800 Speaker 1: dit Royd. I'm reporting the micro chip shortage and other 529 00:30:02,920 --> 00:30:06,400 Speaker 1: issues took a forty million dollar toll on Visteon's business 530 00:30:06,480 --> 00:30:12,800 Speaker 1: live years. The following is an editorial from Bloomberg opinion. 531 00:30:13,280 --> 00:30:17,040 Speaker 1: Inflation like a full moon seems to induce a range 532 00:30:17,080 --> 00:30:20,800 Speaker 1: of manias. A proposal from Senate Democrats to suspend the 533 00:30:20,880 --> 00:30:24,480 Speaker 1: federal gas tax offers a good example. Revenue from the 534 00:30:24,560 --> 00:30:27,840 Speaker 1: gas tax goes into the Highway Trust Fund, which is 535 00:30:27,960 --> 00:30:31,280 Speaker 1: the primary way the US pays for surface transportation. But 536 00:30:31,400 --> 00:30:35,360 Speaker 1: the tax, which isn't index to inflation, hasn't been raised 537 00:30:35,400 --> 00:30:39,360 Speaker 1: since nineteen and the Highway Trust Fund faces a shortfall 538 00:30:39,800 --> 00:30:42,520 Speaker 1: of some one hundred and sixty billion dollars over the 539 00:30:42,600 --> 00:30:46,440 Speaker 1: next decade. A gas tax holiday would only compound this problem. 540 00:30:46,920 --> 00:30:49,760 Speaker 1: By one estimate, it would cost the government around twenty 541 00:30:49,840 --> 00:30:53,200 Speaker 1: billion dollars and hasten the funds insolvency by a full year. 542 00:30:53,520 --> 00:30:56,000 Speaker 1: And for all that it might save drivers a grand 543 00:30:56,040 --> 00:30:59,280 Speaker 1: total of two dollars a week. The Biden administration and 544 00:30:59,360 --> 00:31:02,840 Speaker 1: Democrats should stop pretending the magical fixed to inflation will 545 00:31:02,920 --> 00:31:07,320 Speaker 1: materialize and instead stick to a simple principle avoid making 546 00:31:07,400 --> 00:31:10,280 Speaker 1: things worse. This editorial was written by the Bloomberg Opinion 547 00:31:10,400 --> 00:31:13,880 Speaker 1: Editorial Board. I'm David Shipley. For more Bloomberg opinion, please 548 00:31:13,880 --> 00:31:16,640 Speaker 1: go to Bloomberg dot com, slash Opinion or opia and 549 00:31:16,720 --> 00:31:20,280 Speaker 1: go on the Bloomberg terminal. This has been Bloomberg Opinion 550 00:31:22,600 --> 00:31:24,800 Speaker 1: at ahead of the cash open the odd Wall Street. 551 00:31:24,880 --> 00:31:27,480 Speaker 1: We have down futures right now one thirty four points, 552 00:31:27,800 --> 00:31:31,400 Speaker 1: SMP five hundred futures of twenty three the nastic futures 553 00:31:31,480 --> 00:31:38,880 Speaker 1: right now one. This is Bloomberg Markets, headlines and breaking 554 00:31:38,920 --> 00:31:41,760 Speaker 1: news twenty four hours a day at Bloomberg dot Com, 555 00:31:41,920 --> 00:31:45,520 Speaker 1: the Bloomberg Business Atland at Bloomberg Quicktape. This is a 556 00:31:45,560 --> 00:31:55,240 Speaker 1: Bloomberg Business Flash, and I'm Cameron Moscow. Futures are rising 557 00:31:55,520 --> 00:31:58,360 Speaker 1: as planned talks between Russia and the US over Ukraine 558 00:31:58,360 --> 00:32:01,800 Speaker 1: alleviates some investor gloom of geo political risks. We check 559 00:32:01,880 --> 00:32:04,160 Speaker 1: the markets every fifteen minutes throughout the trading day on 560 00:32:04,280 --> 00:32:06,960 Speaker 1: Bloomberg s and P Future is up twenty three points 561 00:32:07,080 --> 00:32:09,680 Speaker 1: down futures up a hundred twenty eight Nasdack Future is 562 00:32:09,760 --> 00:32:12,520 Speaker 1: up one hundred two the docks in Germany as little changed. 563 00:32:12,800 --> 00:32:15,280 Speaker 1: Ten year treasury down one thirty second held one point 564 00:32:15,360 --> 00:32:17,920 Speaker 1: nine six percent, yield on the two year one point 565 00:32:17,960 --> 00:32:20,719 Speaker 1: four eight percent. Nine X screwde oil is down two 566 00:32:20,760 --> 00:32:23,040 Speaker 1: and a half percent, down two dollars thirty cents and 567 00:32:23,160 --> 00:32:25,960 Speaker 1: eighty nine dollars forty six cents of barrel comex school 568 00:32:26,040 --> 00:32:28,360 Speaker 1: down six tenths per cent or eleven dollars forty cents 569 00:32:28,360 --> 00:32:31,440 Speaker 1: in eighteen nineties. Sixty announce. The euro one point one 570 00:32:31,480 --> 00:32:33,920 Speaker 1: three six four against the dollar. British found one point 571 00:32:33,960 --> 00:32:36,440 Speaker 1: three six one five. The yen is at one fifteen 572 00:32:36,520 --> 00:32:39,640 Speaker 1: point one and nine Bitcoin this morning, moving higher at 573 00:32:39,680 --> 00:32:43,320 Speaker 1: forty thousand, eight hundred fifty dollars. That's a Bloomberg business flash. 574 00:32:43,400 --> 00:32:45,480 Speaker 1: Now here's John Tucker with more on what's going on 575 00:32:45,560 --> 00:32:49,040 Speaker 1: around the world. John and Karen. President Biden warns the 576 00:32:49,160 --> 00:32:52,120 Speaker 1: probability of an invasion of Ukraine is still very high. 577 00:32:52,560 --> 00:32:54,960 Speaker 1: The Runch and Foreign Minister has agreed to meet with 578 00:32:55,080 --> 00:32:58,320 Speaker 1: Secretary State Anthony Blanket for talks in Europe next week. 579 00:32:58,760 --> 00:33:01,960 Speaker 1: A judge his rule. Former Resident Trump must answer questions 580 00:33:02,040 --> 00:33:05,080 Speaker 1: under all of the New York's civil investigation into his 581 00:33:05,200 --> 00:33:08,800 Speaker 1: business practices and the House Republican leader Kevin McCarthy has 582 00:33:08,840 --> 00:33:12,320 Speaker 1: taken the unusual step of endorsing the primary opponent of 583 00:33:12,400 --> 00:33:16,920 Speaker 1: incumbent Republican Representative Liz Cheney. Sports Rangers fall to the 584 00:33:16,960 --> 00:33:20,000 Speaker 1: Red Wings and shootout. The Islanders beat the Bruins and 585 00:33:20,120 --> 00:33:23,200 Speaker 1: the Capital's top the Flyers in the NBA, The Wizards 586 00:33:23,280 --> 00:33:25,800 Speaker 1: beat the Nets. Global News twenty four hours day on 587 00:33:25,840 --> 00:33:29,000 Speaker 1: Aaron on Bloomberg Quicktake Power by more than twenty seven 588 00:33:29,080 --> 00:33:32,640 Speaker 1: hundred journalists and analysts more than one twenty countries. I'm 589 00:33:32,720 --> 00:33:35,680 Speaker 1: John Tucker, did s is Bloomberg. Nathan Okay, John, thanks 590 00:33:35,720 --> 00:33:37,480 Speaker 1: for coming up to five forty nine on Wall Street 591 00:33:37,520 --> 00:33:40,600 Speaker 1: Live from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak. 592 00:33:40,640 --> 00:33:44,520 Speaker 1: I'm Nathan Hager. Geopolitics and the risk of inflation maybe 593 00:33:44,640 --> 00:33:47,480 Speaker 1: top of mind for investors right now, but there is 594 00:33:47,800 --> 00:33:50,480 Speaker 1: still a pandemic at least in the background. So let's 595 00:33:50,520 --> 00:33:53,480 Speaker 1: get an update on COVID where we stand now. For that, 596 00:33:53,680 --> 00:33:57,120 Speaker 1: we're joined by Andy Pecos, Professor of Molecular Microbiology and 597 00:33:57,160 --> 00:34:00,720 Speaker 1: Immunology at the Johns Hopkins Bloomberg School of Public Health, 598 00:34:00,800 --> 00:34:03,640 Speaker 1: Professor It's always good to speak with you, particularly at 599 00:34:03,640 --> 00:34:06,320 Speaker 1: a time where this week we heard from Dr Fauci 600 00:34:06,640 --> 00:34:09,600 Speaker 1: saying that the US outbreak is pointing in a sharp 601 00:34:09,960 --> 00:34:13,359 Speaker 1: downward direction and it feels like, you know, a lot 602 00:34:13,440 --> 00:34:17,520 Speaker 1: of states are lifting mask mandates and other public health measures. 603 00:34:18,040 --> 00:34:19,600 Speaker 1: What do we need to do to keep things going 604 00:34:19,640 --> 00:34:22,640 Speaker 1: where they are? Well? At first, I think it's really 605 00:34:22,719 --> 00:34:27,600 Speaker 1: important that of local case numbers and local numbers of 606 00:34:27,719 --> 00:34:30,800 Speaker 1: hospitalizations and deaths are really factored into a lot of 607 00:34:30,880 --> 00:34:33,640 Speaker 1: these decisions. I know, we have a we we want 608 00:34:33,680 --> 00:34:35,600 Speaker 1: to have the sense that the entire US can be 609 00:34:35,719 --> 00:34:38,320 Speaker 1: released from some of these public health interventions at the 610 00:34:38,360 --> 00:34:41,760 Speaker 1: same time. But you know, all macron surges have started 611 00:34:41,760 --> 00:34:44,240 Speaker 1: at different times and are at different stages in different 612 00:34:44,320 --> 00:34:47,279 Speaker 1: states and cities. So it's important to look at the 613 00:34:47,400 --> 00:34:51,279 Speaker 1: numbers and a local level and then to not let 614 00:34:51,320 --> 00:34:54,200 Speaker 1: our foot off the guests too early for risk of 615 00:34:54,520 --> 00:34:58,359 Speaker 1: a resurgence. So um, I'm sounding cautious because everything does 616 00:34:58,480 --> 00:35:00,520 Speaker 1: look really good, but we don't want to be overly 617 00:35:00,960 --> 00:35:05,120 Speaker 1: optimistic and and leave some of these interventions too early. 618 00:35:05,520 --> 00:35:07,520 Speaker 1: Otherwise we risk the risk risk we run the risk 619 00:35:07,560 --> 00:35:09,959 Speaker 1: of running backwards a little bit. Well, let's talk about 620 00:35:10,000 --> 00:35:12,840 Speaker 1: some of the interventions that have been uh starting to 621 00:35:13,000 --> 00:35:15,680 Speaker 1: lift in places like New York City, where we've heard 622 00:35:15,760 --> 00:35:19,120 Speaker 1: from Mayor Adams telling c e o s to get 623 00:35:19,160 --> 00:35:22,920 Speaker 1: their workers back in the offices, and mask mandates being 624 00:35:22,960 --> 00:35:25,600 Speaker 1: lifted in places like Washington, d c. And in schools 625 00:35:25,840 --> 00:35:28,279 Speaker 1: in Massachusetts by the end of this month. Is this 626 00:35:28,400 --> 00:35:30,960 Speaker 1: the right time for places like that where the numbers 627 00:35:31,040 --> 00:35:33,839 Speaker 1: really do seem to be going down uh, to say, yeah, 628 00:35:33,880 --> 00:35:35,640 Speaker 1: we can go ahead and sort of ease things up 629 00:35:35,680 --> 00:35:39,200 Speaker 1: and try to get back to normal. Yeah. Absolutely. I 630 00:35:39,320 --> 00:35:41,680 Speaker 1: think it's important to realize that, you know, we still 631 00:35:41,840 --> 00:35:45,440 Speaker 1: are at levels of cases that are extremely high compared 632 00:35:45,480 --> 00:35:48,320 Speaker 1: to other parts of the pandemic. Um, we've learned to 633 00:35:48,480 --> 00:35:52,480 Speaker 1: deal with these from both the medical aspect and prevention 634 00:35:52,560 --> 00:35:55,360 Speaker 1: aspect in terms of vaccines, and so there are safe 635 00:35:55,400 --> 00:35:57,719 Speaker 1: ways to bring people back to work. Um. You know, 636 00:35:57,840 --> 00:36:00,200 Speaker 1: schools are the really the big question right now, with 637 00:36:00,360 --> 00:36:03,840 Speaker 1: some vaccination rates not being very good there and that 638 00:36:04,120 --> 00:36:07,520 Speaker 1: environment of having lots of people in small spaces together 639 00:36:07,680 --> 00:36:10,320 Speaker 1: being one that runs a risk of high transmission. I 640 00:36:10,360 --> 00:36:12,800 Speaker 1: think we really have to be careful about those types 641 00:36:12,840 --> 00:36:15,799 Speaker 1: of situations. So the take home is, look at your 642 00:36:15,840 --> 00:36:20,239 Speaker 1: situation and address some of the easy concerns that you 643 00:36:20,320 --> 00:36:23,120 Speaker 1: can make to try to limit transmission. But there really 644 00:36:23,239 --> 00:36:25,279 Speaker 1: is in many parts of the country no reason not 645 00:36:25,400 --> 00:36:28,799 Speaker 1: to start thinking about moving towards that normalcy. Again, I've 646 00:36:28,800 --> 00:36:31,319 Speaker 1: also heard a growing number of reports from the White 647 00:36:31,360 --> 00:36:35,600 Speaker 1: House that they're talking about running out of resources to 648 00:36:35,800 --> 00:36:40,360 Speaker 1: deal with not just the current pandemic, but potentially future variants, 649 00:36:40,560 --> 00:36:44,360 Speaker 1: future pandemics coming down the line. What lessons have we 650 00:36:44,520 --> 00:36:47,239 Speaker 1: learned from this pandemic in terms of the types of 651 00:36:47,400 --> 00:36:52,200 Speaker 1: resources we need to have in our stockpile to deal 652 00:36:52,280 --> 00:36:54,719 Speaker 1: with what could be coming next. Yeah, well, you know, 653 00:36:55,320 --> 00:36:58,720 Speaker 1: at this stage of the pandemic, it really becomes testing, 654 00:36:59,320 --> 00:37:03,000 Speaker 1: finding way to do rapid testing as well as more 655 00:37:03,280 --> 00:37:07,640 Speaker 1: expensive PCR testing so we can really follow cases um 656 00:37:08,000 --> 00:37:11,279 Speaker 1: sequencing capacity. That's how we know when a variant is 657 00:37:11,320 --> 00:37:13,560 Speaker 1: out there. It's not because if someone comes up positive 658 00:37:13,600 --> 00:37:15,960 Speaker 1: for a test that because we take their sample and 659 00:37:16,120 --> 00:37:20,240 Speaker 1: we do sequencing on it. That capacity has to be larger, 660 00:37:20,520 --> 00:37:24,319 Speaker 1: and that capacity has to be faster because right now 661 00:37:24,400 --> 00:37:27,720 Speaker 1: it takes too long for us to identify what variant 662 00:37:27,760 --> 00:37:30,200 Speaker 1: of person is infected with if we need, if we 663 00:37:30,360 --> 00:37:33,319 Speaker 1: if we can put the resources into speed that process up. 664 00:37:33,560 --> 00:37:36,120 Speaker 1: Then we would be in a much better place for 665 00:37:36,680 --> 00:37:39,759 Speaker 1: upcoming potential surges of omicron that are coming through. So 666 00:37:40,239 --> 00:37:42,200 Speaker 1: that's really I think a focus right now in this 667 00:37:42,760 --> 00:37:46,400 Speaker 1: in between surge times is to really get our testing 668 00:37:46,840 --> 00:37:50,520 Speaker 1: and sequencing capabilities up so we can be faster at 669 00:37:50,560 --> 00:37:53,120 Speaker 1: responding to outbreaks. Now, it will be interesting to see 670 00:37:53,160 --> 00:37:54,960 Speaker 1: what the White House does, if anything, to try to 671 00:37:55,040 --> 00:37:58,160 Speaker 1: get those resources in place. Dr Pecos as always great 672 00:37:58,200 --> 00:38:02,120 Speaker 1: speaking with you. Andy Peco is Professor of Molecular Microbiology 673 00:38:02,280 --> 00:38:05,319 Speaker 1: and Immunology at the Johns Hopkins Bloomberg School of Public Health, 674 00:38:05,320 --> 00:38:08,160 Speaker 1: which is supported by Michael Bloomberg, the founded majority owner 675 00:38:08,600 --> 00:38:13,120 Speaker 1: of the parent company of this operation, Bloomberg LP. Karen Nathan, 676 00:38:13,200 --> 00:38:15,640 Speaker 1: thank you. It is fifty three on Wall Street time 677 00:38:15,640 --> 00:38:18,560 Speaker 1: for the Bloomberg Law Report. It's brought to you by 678 00:38:18,719 --> 00:38:23,200 Speaker 1: American Arbitration Association. Business disputes are inevitable, resolve faster with 679 00:38:23,239 --> 00:38:27,160 Speaker 1: the American Arbitration Association, the global leader in alternative dispute 680 00:38:27,160 --> 00:38:30,600 Speaker 1: resolution for over ninety years. More at ADR dot org. 681 00:38:30,840 --> 00:38:33,120 Speaker 1: Let's get to the legal stories we're watching this morning. 682 00:38:33,160 --> 00:38:40,640 Speaker 1: From Bloomberg's Jeff Bellinger, California's Civil Rights Agency is expanding 683 00:38:40,680 --> 00:38:44,200 Speaker 1: its probe into Activision Blizzard. Regulators are seeking access to 684 00:38:44,320 --> 00:38:48,680 Speaker 1: police records concerning the gamemakers, executives, and company events. Several 685 00:38:48,800 --> 00:38:52,160 Speaker 1: moviemaking heavyweights are accused of infringing on six patents for 686 00:38:52,239 --> 00:38:56,040 Speaker 1: bicolor and multicolor lighting tubes that reduce rigging time for 687 00:38:56,160 --> 00:38:58,960 Speaker 1: film and television crews, and Peverage Farm was hit with 688 00:38:59,000 --> 00:39:02,200 Speaker 1: a federal lawsuit argie it violated the Fair Labor Standards 689 00:39:02,239 --> 00:39:06,280 Speaker 1: Act and Virginia wage laws by misclassifying some delivery workers 690 00:39:06,360 --> 00:39:11,600 Speaker 1: as independent contractors rather than employees. Bloomberg Law everything you need, 691 00:39:11,920 --> 00:39:16,239 Speaker 1: all on one legal research platform, including guidance analysis and 692 00:39:16,360 --> 00:39:20,279 Speaker 1: Bloomberg market Intelligence. Find out more at Bloomberg Law dot 693 00:39:20,360 --> 00:39:23,680 Speaker 1: com and thanks Jeff Now another legal story. It brings 694 00:39:23,800 --> 00:39:26,879 Speaker 1: us to allegations against Chris Andrew. After years of public 695 00:39:26,960 --> 00:39:30,279 Speaker 1: humiliation of our sexual abuse allegations, he is settling with 696 00:39:30,400 --> 00:39:34,840 Speaker 1: his accuser. Andrew has consistently denied Virginia drew Phrase claim 697 00:39:35,160 --> 00:39:37,719 Speaker 1: that he was lent to her by Jeffrey Epstein for 698 00:39:37,880 --> 00:39:41,239 Speaker 1: sexual abuse when she was a teenager. Facing the possibility 699 00:39:41,280 --> 00:39:43,719 Speaker 1: of trial later this year, Andrew agreed to settle the 700 00:39:43,760 --> 00:39:46,359 Speaker 1: case for an undisclosed sum. For more in the move, 701 00:39:46,480 --> 00:39:50,200 Speaker 1: June Grass speaks to Bloomberg Legal editor Anthony Lynn. Did 702 00:39:50,320 --> 00:39:54,239 Speaker 1: this settlement come as a surprise to people who are 703 00:39:54,280 --> 00:39:58,560 Speaker 1: watching the case, I think, ultimately not. I do think 704 00:39:58,880 --> 00:40:01,400 Speaker 1: it was a surprise how earlier came. I think a 705 00:40:01,440 --> 00:40:03,440 Speaker 1: lot of people thought maybe this would get a little closer, 706 00:40:03,480 --> 00:40:05,920 Speaker 1: a little further. But a lot of people who had 707 00:40:06,000 --> 00:40:09,960 Speaker 1: been following, you know, litigation relating to Jeffrey Epstein, did 708 00:40:10,040 --> 00:40:12,960 Speaker 1: not expect this ultimately good to trial. So ultimately fact 709 00:40:12,960 --> 00:40:15,319 Speaker 1: that it was settled wasn't that surprising. But he'd been 710 00:40:15,400 --> 00:40:20,560 Speaker 1: taking a sort of scorched earth approach to her claims, 711 00:40:21,120 --> 00:40:25,200 Speaker 1: indicating he wanted to vindicate his name at trial. Yeah. 712 00:40:25,320 --> 00:40:29,560 Speaker 1: I think certainly the litigation strategy right up until the 713 00:40:29,600 --> 00:40:34,360 Speaker 1: settlement was pretty aggressive in terms of saying she consented 714 00:40:34,400 --> 00:40:36,719 Speaker 1: to some aspects of this. You know that she was 715 00:40:36,800 --> 00:40:39,399 Speaker 1: out for money. But clearly there was a turning point 716 00:40:39,440 --> 00:40:42,600 Speaker 1: in the sense of when the judge basically denied his 717 00:40:42,680 --> 00:40:45,879 Speaker 1: motion dismissed the case. So he was facing a number 718 00:40:45,960 --> 00:40:48,279 Speaker 1: of issues. For instance, he would have had to sit 719 00:40:48,400 --> 00:40:51,360 Speaker 1: for a deposition soon. You know, they were getting this 720 00:40:51,480 --> 00:40:55,200 Speaker 1: evidence from, for instances, his former personal assistant. So there 721 00:40:55,280 --> 00:40:58,120 Speaker 1: were these sort of immediate, you know, obstacles in his 722 00:40:58,239 --> 00:41:00,440 Speaker 1: path that I guess he wanted to avoid. Did the 723 00:41:00,560 --> 00:41:06,160 Speaker 1: judge ever rule on his argument that this litigation was 724 00:41:06,360 --> 00:41:10,480 Speaker 1: covered by a release that Duffrey signed as part of 725 00:41:10,520 --> 00:41:14,560 Speaker 1: a settlement with Epstein. No, the judge never explicitly ruled 726 00:41:14,640 --> 00:41:17,200 Speaker 1: on that. So that was the core argument that he 727 00:41:17,320 --> 00:41:19,799 Speaker 1: put forth in his motion to dismissed that this two 728 00:41:19,880 --> 00:41:23,680 Speaker 1: thousand nine settlement between Duffer and Epstein included him, and 729 00:41:24,280 --> 00:41:27,720 Speaker 1: Duffer's lawyers said that there was there was no possible 730 00:41:27,760 --> 00:41:29,440 Speaker 1: way that he could have been included in that as 731 00:41:29,480 --> 00:41:33,800 Speaker 1: a potential defendant. Agreement said all potential defendants, and the 732 00:41:33,920 --> 00:41:36,320 Speaker 1: judge basically said it was it was too early to 733 00:41:36,520 --> 00:41:39,200 Speaker 1: rule on that because there was more evidence to be 734 00:41:39,400 --> 00:41:43,000 Speaker 1: discovered on that. Basically, in the settlement, he admitted to 735 00:41:43,080 --> 00:41:48,640 Speaker 1: no wrongdoing, but his tone was quite different from what 736 00:41:48,760 --> 00:41:52,239 Speaker 1: we've heard from him before. That was conciliatory, I thought, 737 00:41:52,400 --> 00:41:55,920 Speaker 1: you know, compared especially to the language and his motion 738 00:41:56,040 --> 00:41:59,800 Speaker 1: dismissed last October, and in the more recent formal and 739 00:42:00,040 --> 00:42:02,880 Speaker 1: sar to the complaint, where he specifically said he was 740 00:42:02,920 --> 00:42:06,720 Speaker 1: going to raise these defenses like consent. He specifically raised 741 00:42:06,960 --> 00:42:10,799 Speaker 1: the legal defense of unclean hands, you know, basically suggesting 742 00:42:11,000 --> 00:42:13,840 Speaker 1: she was as fault in this as well, she's not 743 00:42:14,200 --> 00:42:17,480 Speaker 1: a blameless person in her own sexual abuse, which you know, 744 00:42:17,520 --> 00:42:20,000 Speaker 1: it's pretty harsh defense to bring up. And in this 745 00:42:20,520 --> 00:42:23,759 Speaker 1: latest statement he is commending her for her bravery and 746 00:42:24,000 --> 00:42:27,000 Speaker 1: saying how much sympathy has for all the victims. And 747 00:42:27,040 --> 00:42:30,240 Speaker 1: that's Bloomberg Legal Editor Anthony Lynn speaking with Juan Grosso. 748 00:42:30,320 --> 00:42:32,840 Speaker 1: Catch more of that interview, plus analysis of the latest 749 00:42:32,920 --> 00:42:35,560 Speaker 1: legal news by listening to the Bloomberg Law Show at 750 00:42:35,600 --> 00:42:38,640 Speaker 1: ten pm Eastern Time or subscribing to the Bloomberg Law 751 00:42:38,719 --> 00:42:42,200 Speaker 1: Podcast an Attorneys can find exceptional legal research and business 752 00:42:42,239 --> 00:42:46,759 Speaker 1: development tools at Bloomberg Law dot com. This is Bloomberg