1 00:00:02,720 --> 00:00:06,000 Speaker 1: By from the Bloomberg Interactive Burger Studios. This is Bloomberg 2 00:00:06,040 --> 00:00:09,960 Speaker 1: Daybreak for Monday, February seven two. Coming up this hour, 3 00:00:10,200 --> 00:00:13,600 Speaker 1: Wall Street braces for earnings and inflation data after last 4 00:00:13,640 --> 00:00:17,280 Speaker 1: week's volatility. President Biden looks to read packages economic message 5 00:00:17,320 --> 00:00:21,239 Speaker 1: to the public. Peloton shares sore on takeover speculation, and 6 00:00:21,239 --> 00:00:24,160 Speaker 1: Boris Johnson makes moves to keep his job as pressure 7 00:00:24,200 --> 00:00:26,840 Speaker 1: on the Prime minister bills. The New York City Council 8 00:00:26,840 --> 00:00:30,720 Speaker 1: will debate making outdoor dining permanent. Plus National Security Adviser 9 00:00:30,760 --> 00:00:34,640 Speaker 1: Sullivan says Russia could invade Ukraine any day. Michael Barr 10 00:00:34,760 --> 00:00:37,920 Speaker 1: more ahead, I'm John Stashown Sports. The Nets in Denver 11 00:00:38,080 --> 00:00:40,199 Speaker 1: lost their eighth in a row. A disappointing day for 12 00:00:40,240 --> 00:00:45,440 Speaker 1: the United States at the Olympics. That's all straight ahead 13 00:00:45,520 --> 00:00:51,560 Speaker 1: on Bloomberg day Break on Bloomberg, Elementoro, New York, Bloomberg, Washington, 14 00:00:51,680 --> 00:00:55,560 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine six, 15 00:00:55,760 --> 00:01:00,000 Speaker 1: San Francisco, Sirius x M one nineteen and around the world. 16 00:01:00,000 --> 00:01:03,960 Speaker 1: Old on Bloomberg Radio dot Com and via The Bloomberg Business. 17 00:01:03,600 --> 00:01:10,640 Speaker 1: A good morning. I'm Nathan Hagar, and I'm Karen Moscow 18 00:01:10,720 --> 00:01:13,680 Speaker 1: U S stock index futures are lower to start the week. 19 00:01:13,720 --> 00:01:15,440 Speaker 1: We're coming up to five oh one on Wall Street, 20 00:01:15,440 --> 00:01:17,560 Speaker 1: and we checked the markets every fifteen minutes throughout the 21 00:01:17,600 --> 00:01:20,280 Speaker 1: trading day. On Bloomberg, U S and P futures down 22 00:01:20,280 --> 00:01:23,520 Speaker 1: ten points this morning. Down futures down one D three 23 00:01:23,600 --> 00:01:26,640 Speaker 1: and AS day futures down twenty eight. Ten year treasury 24 00:01:26,680 --> 00:01:29,000 Speaker 1: that will change you at one point nine zero percent 25 00:01:29,080 --> 00:01:31,040 Speaker 1: and a yield on the two year one point to 26 00:01:31,240 --> 00:01:34,720 Speaker 1: nine percent. Nathan Karen. The drop in futures were seeing 27 00:01:34,720 --> 00:01:37,840 Speaker 1: this morning comes after another volatile week on Wall Street. 28 00:01:37,920 --> 00:01:41,280 Speaker 1: The tech heavy Nasdaq one d index rose one point 29 00:01:41,319 --> 00:01:44,319 Speaker 1: three percent while the Dow dropped a tenth of a percent. 30 00:01:44,520 --> 00:01:48,240 Speaker 1: We saw huge market swings tied to earnings. St Dweg 31 00:01:48,280 --> 00:01:51,040 Speaker 1: as chief investment officer at Flow Bank. We've seen that 32 00:01:51,120 --> 00:01:54,080 Speaker 1: earnings across a lot of these big tech companies had 33 00:01:54,120 --> 00:01:57,400 Speaker 1: a very big impact, and we could see some huge 34 00:01:57,440 --> 00:02:00,640 Speaker 1: diverging moves between a couple of n was depending on 35 00:02:00,680 --> 00:02:03,960 Speaker 1: how the earnings results were perceived and how the guidance 36 00:02:04,040 --> 00:02:06,440 Speaker 1: was perceived. So you know, maybe more of a stuff 37 00:02:06,480 --> 00:02:10,440 Speaker 1: pickers market coming in a couple of months, but Generally speaking, 38 00:02:10,520 --> 00:02:12,679 Speaker 1: I do still think the tech is going to hold 39 00:02:12,760 --> 00:02:16,280 Speaker 1: up and do quite well in Flowbank, says Dweck says 40 00:02:16,280 --> 00:02:19,840 Speaker 1: Friday's jobs reports solidified fed hikes over the next few meetings, 41 00:02:19,840 --> 00:02:23,280 Speaker 1: but the second half of the year is still unclear. Overseas, 42 00:02:23,360 --> 00:02:26,120 Speaker 1: Nathan O' rally and Chinese shares helped limited drop in 43 00:02:26,200 --> 00:02:29,200 Speaker 1: Asian stocks. Japan led declines in the region, and we 44 00:02:29,240 --> 00:02:33,079 Speaker 1: get the recap from Bloomberg's Juliette Sally and Singapore Good Morning, Juliette, 45 00:02:33,200 --> 00:02:35,880 Speaker 1: Good Morning Current. China's cs I three hundred gained as 46 00:02:35,960 --> 00:02:38,360 Speaker 1: much as two point six percent in its first trading 47 00:02:38,360 --> 00:02:41,240 Speaker 1: session since the Lunar New Year break. Before pairing some 48 00:02:41,280 --> 00:02:44,200 Speaker 1: of those games, it was still the best post Lunar 49 00:02:44,240 --> 00:02:48,000 Speaker 1: New Year game since tw Sentiment was boosted by that 50 00:02:48,040 --> 00:02:50,080 Speaker 1: big jump we saw in Hong Kong on Friday and 51 00:02:50,120 --> 00:02:53,840 Speaker 1: easing concerns about regulatory headwinds for the tech sector. However, 52 00:02:53,880 --> 00:02:56,239 Speaker 1: tech players were sold off in Hong Kong Monday, led 53 00:02:56,240 --> 00:02:59,440 Speaker 1: by Ali Baba. This amid speculation Soft Bank could be 54 00:02:59,480 --> 00:03:01,679 Speaker 1: selling so of its shiz than a K two to 55 00:03:01,880 --> 00:03:04,160 Speaker 1: five closed lower by seven tenths of one percent in 56 00:03:04,200 --> 00:03:07,639 Speaker 1: Tokyo off to posting its best week since Sulktoba in Singapore. 57 00:03:07,720 --> 00:03:11,080 Speaker 1: Juliet Sally Bloomberg Daybreak. All right, Juliet. Thanks Back Here 58 00:03:11,120 --> 00:03:13,680 Speaker 1: in the US, the White House is planning another push 59 00:03:13,720 --> 00:03:17,359 Speaker 1: on its economic agenda. President Biden's top advisors are hatching 60 00:03:17,360 --> 00:03:21,000 Speaker 1: a plan to repackage the message. Amy Morris has the 61 00:03:21,000 --> 00:03:24,760 Speaker 1: details from our Bloomberg newsroom in Washington. You'll hear less 62 00:03:24,760 --> 00:03:27,560 Speaker 1: about inflation and the stalled Build Back Better plan and 63 00:03:27,639 --> 00:03:31,680 Speaker 1: more about wage growth, union jobs, and domestic manufacturing. Sources 64 00:03:31,680 --> 00:03:35,960 Speaker 1: tell Bloomberg that President Biden's advisors are resetting the President's approach. 65 00:03:36,160 --> 00:03:40,320 Speaker 1: Supply chain bottlenecks and partisan fighting over COVID vaccinations, masks 66 00:03:40,360 --> 00:03:43,840 Speaker 1: and testing will take a backseat to expanding the productive 67 00:03:43,840 --> 00:03:48,320 Speaker 1: capacity of the economy. This just months before the November midterms, 68 00:03:48,320 --> 00:03:51,720 Speaker 1: where Republican wins could do many future White House initiatives. 69 00:03:51,960 --> 00:03:55,240 Speaker 1: In Washington. I'm Amy Morris, Bloomberg Daybreak, Amy, thank you. 70 00:03:55,320 --> 00:03:57,920 Speaker 1: We also have news from the U s. Transury Secretary 71 00:03:58,000 --> 00:04:00,760 Speaker 1: this morning. Jenny Yellen says she is no plans to 72 00:04:00,840 --> 00:04:04,040 Speaker 1: leave the job anytime soon. An interview with the Bloomberg, 73 00:04:04,120 --> 00:04:06,640 Speaker 1: Yellen said there's still a huge amount of important work 74 00:04:06,720 --> 00:04:09,040 Speaker 1: to do. The biggest winn over tenures so far was 75 00:04:09,080 --> 00:04:12,280 Speaker 1: a global agreement on corporate taxes, but Congress has yet 76 00:04:12,320 --> 00:04:15,360 Speaker 1: to endorse the plan. The economic data are also in focus. 77 00:04:15,440 --> 00:04:18,800 Speaker 1: Karen on this week's agenda, the spotlight shifts to inflation. 78 00:04:19,000 --> 00:04:21,680 Speaker 1: We get more from Bloomberg's Thanny Dell Judae. The monthly 79 00:04:21,720 --> 00:04:26,280 Speaker 1: employment report remarkably strongest behind US. Thursday, the government issues 80 00:04:26,279 --> 00:04:29,880 Speaker 1: the January Consumer Price Index. The CPI has been soaring, 81 00:04:30,120 --> 00:04:33,360 Speaker 1: climbing seven on a year over year basis in December. 82 00:04:33,680 --> 00:04:37,000 Speaker 1: That's the most and thirty nine years, and January's index 83 00:04:37,000 --> 00:04:41,440 Speaker 1: could run hotter as pandemic related supply shortages persist in businesses, 84 00:04:41,520 --> 00:04:44,920 Speaker 1: passed along rising labor costs. Also on this week's calendar, 85 00:04:45,040 --> 00:04:48,520 Speaker 1: December consumer credit, which should settle back from a record 86 00:04:48,560 --> 00:04:52,120 Speaker 1: November jump. And he Deal Judais Bloomberg Day Break, any 87 00:04:52,200 --> 00:04:54,880 Speaker 1: thank you. Turning to corporate news now shares a Peloton 88 00:04:55,040 --> 00:04:58,320 Speaker 1: or up in early trading. Let's due to speculation of 89 00:04:58,320 --> 00:05:02,280 Speaker 1: a takeover, But as Bloomberg Prisoner reports, Peloton could face 90 00:05:02,360 --> 00:05:05,159 Speaker 1: challenges if the company tries to sell itself to a 91 00:05:05,200 --> 00:05:09,080 Speaker 1: big tech firm Peloton finds itself a potential takeover target. 92 00:05:09,200 --> 00:05:12,320 Speaker 1: Last Friday, The Wall Street Journal reported Amazon is exploring 93 00:05:12,320 --> 00:05:15,760 Speaker 1: a possible deal. Analysts say Apple could be a buyer. 94 00:05:16,040 --> 00:05:19,280 Speaker 1: The FT reports Nike is also considering a bid, and 95 00:05:19,360 --> 00:05:22,840 Speaker 1: Disney has been mentioned as well, but regulatory scrutiny could 96 00:05:22,839 --> 00:05:25,520 Speaker 1: make a deal difficult. Tech firms are being probed for 97 00:05:25,560 --> 00:05:29,200 Speaker 1: their reach and influence. Recently, the FTC suit to block 98 00:05:29,279 --> 00:05:32,760 Speaker 1: the acquisition of arm Limited by Nvidio in New York. 99 00:05:32,760 --> 00:05:35,840 Speaker 1: I'm Doug Prisoner Bloomberg Daybreak, All Right, Doug. Thanks. Spotify 100 00:05:35,960 --> 00:05:38,480 Speaker 1: is also in the spotlight this morning. The company CEO 101 00:05:38,640 --> 00:05:42,680 Speaker 1: is speaking out once again about podcaster Joe Rogan. Let's 102 00:05:42,680 --> 00:05:45,600 Speaker 1: get the latest live from Bloomberg's Granita Young. Good morning, Granita, 103 00:05:45,680 --> 00:05:49,400 Speaker 1: Good morning Nathan. Spotify CEO Daniel Extel staff that he's 104 00:05:49,440 --> 00:05:53,159 Speaker 1: deeply sorry for the impact of the controversy over Joe Rogan, 105 00:05:53,560 --> 00:05:57,080 Speaker 1: but he supports keeping rogan show on the platform. Rogan 106 00:05:57,120 --> 00:06:00,120 Speaker 1: has been under fire for repeatedly using racial slurs and 107 00:06:00,200 --> 00:06:04,680 Speaker 1: spreading COVID misinformation on his podcast. While several episodes have 108 00:06:04,800 --> 00:06:08,320 Speaker 1: been removed from Spotify, the company CEO says he does 109 00:06:08,360 --> 00:06:12,320 Speaker 1: not believe silencing Rogan is the answer. Instead, he says 110 00:06:12,360 --> 00:06:17,280 Speaker 1: Spotify will spend one million dollars to amplify marginalized voices. 111 00:06:17,960 --> 00:06:21,040 Speaker 1: Live in New York. I'm Gonnita Young Bloomberg Daybreak, need 112 00:06:21,080 --> 00:06:23,320 Speaker 1: to thank you. Let's turn to politics overseas Now with 113 00:06:23,400 --> 00:06:26,560 Speaker 1: the latest on UK Prime Minister Boris Johnson. He's hoping 114 00:06:26,600 --> 00:06:29,440 Speaker 1: for a reset after key members of his team walked 115 00:06:29,440 --> 00:06:32,279 Speaker 1: out last week. They get the latest live from London 116 00:06:32,320 --> 00:06:34,480 Speaker 1: with the Bloomberg's You and Pat's Good Morning You and 117 00:06:34,839 --> 00:06:37,480 Speaker 1: good morning Karen and Nathan. Following the resignation of five 118 00:06:37,600 --> 00:06:40,000 Speaker 1: aids in twenty four hours last week, the Prime Minister 119 00:06:40,120 --> 00:06:42,840 Speaker 1: is moving quickly to rebuild his team, including a new 120 00:06:42,920 --> 00:06:45,800 Speaker 1: chief of staff. One newspaper report, though, says that Boris 121 00:06:45,880 --> 00:06:49,040 Speaker 1: Johnson supporters are readying for a confidence vote as soon 122 00:06:49,160 --> 00:06:51,880 Speaker 1: as this week. They're said to believe that between thirty 123 00:06:51,880 --> 00:06:55,440 Speaker 1: five and forty five lawmakers have submitted written requests for 124 00:06:55,560 --> 00:06:58,280 Speaker 1: a vote. Fifty four is the number needed to make 125 00:06:58,320 --> 00:07:00,520 Speaker 1: it happen, but those requests us have it did in 126 00:07:00,600 --> 00:07:03,520 Speaker 1: secrets in London. Onion puts by day Break, all right 127 00:07:03,560 --> 00:07:06,160 Speaker 1: you and thanks right now, SMP futures are down ten points, 128 00:07:06,200 --> 00:07:09,119 Speaker 1: staff futures down ninety nastac features of lower by thirty 129 00:07:09,120 --> 00:07:12,080 Speaker 1: one points ten. Your treasury is down one thirty second, 130 00:07:12,080 --> 00:07:15,520 Speaker 1: the yield one point nine one per cent. Straight ahead, 131 00:07:15,520 --> 00:07:18,600 Speaker 1: your latest local headlines and a check of sports. This 132 00:07:18,960 --> 00:07:24,800 Speaker 1: is Bloomberg. It's five oh seven on Wall Street, where 133 00:07:24,880 --> 00:07:27,440 Speaker 1: thirty two degrees in Central Park. Already seen an accident 134 00:07:27,440 --> 00:07:29,320 Speaker 1: on the New York State through Way. It's northbound near 135 00:07:29,360 --> 00:07:32,480 Speaker 1: exit fourteen. A details coming up in traffic. First, Michael 136 00:07:32,480 --> 00:07:34,280 Speaker 1: Barr is here with more on what's going on in 137 00:07:34,280 --> 00:07:36,720 Speaker 1: New York and around the world. Good morning, Michael, Good morning, 138 00:07:36,760 --> 00:07:40,080 Speaker 1: Nathan French, President of Manuel Macrawl, plans to visit Moscow 139 00:07:40,200 --> 00:07:43,880 Speaker 1: and Kia this week. Kraw will talk about Russia's build 140 00:07:43,920 --> 00:07:47,080 Speaker 1: up of forces on the Ukraine border. US officials now 141 00:07:47,200 --> 00:07:51,360 Speaker 1: estimate that Vladimir Putin has prepared around the forces and 142 00:07:51,440 --> 00:07:54,960 Speaker 1: weapons that would be needed for an invasion into Ukraine. 143 00:07:55,360 --> 00:07:59,720 Speaker 1: National Security Adviser Jake Sullivan says Russia could invade Ukraine 144 00:08:00,000 --> 00:08:03,680 Speaker 1: any day. Sullivan maintains they don't know when the Russians 145 00:08:03,680 --> 00:08:07,360 Speaker 1: could begin such an invasion, but remain prepared for all outcomes. 146 00:08:07,480 --> 00:08:10,000 Speaker 1: I'm not going to make a prediction about what is 147 00:08:10,040 --> 00:08:12,640 Speaker 1: going to unfold in the coming days. All I'm going 148 00:08:12,720 --> 00:08:15,160 Speaker 1: to say is that we, the United States, under the 149 00:08:15,200 --> 00:08:18,840 Speaker 1: direction of President Biden, are ready either way. National Security 150 00:08:18,840 --> 00:08:22,200 Speaker 1: Adviser Sullivan spoke on ABC's This Week, which can be 151 00:08:22,240 --> 00:08:26,320 Speaker 1: heard Sundays on Bloomberg. Earlier, mccrawl and President Joe Biden 152 00:08:26,400 --> 00:08:29,400 Speaker 1: talked by a phone on the crisis. Russia denies it 153 00:08:29,480 --> 00:08:33,600 Speaker 1: plans to invade Ukraine. Outdoor dining maybe here to stay 154 00:08:33,640 --> 00:08:36,760 Speaker 1: in New York. Tomorrow, the City Council will begin debating 155 00:08:36,760 --> 00:08:40,640 Speaker 1: a new bill to make the dining sheds permanent. Marjorie 156 00:08:40,720 --> 00:08:43,760 Speaker 1: Valesquez is the sponsor of the bill. She told ABC 157 00:08:43,800 --> 00:08:47,319 Speaker 1: seven it's important we save our small businesses, our restaurants. 158 00:08:47,640 --> 00:08:51,720 Speaker 1: What's worse to public safety is an empty storefront. Meanwhile, 159 00:08:51,880 --> 00:08:55,080 Speaker 1: dozens protested in the village over the weekend. They say 160 00:08:55,120 --> 00:08:59,360 Speaker 1: the outdoor sheds increase in garbage, rats and people sleeping 161 00:08:59,360 --> 00:09:02,599 Speaker 1: in the sheds. The International Olympic Committee says it a 162 00:09:02,679 --> 00:09:05,680 Speaker 1: hell to sit down with Chinese tennis player Ping Schwa. 163 00:09:06,320 --> 00:09:10,079 Speaker 1: The news follows an interview with French newspaper lay E 164 00:09:10,280 --> 00:09:14,280 Speaker 1: Keep in which Ping denied accusing a senior Chinese official 165 00:09:14,480 --> 00:09:18,920 Speaker 1: of sexual assault. Ping said international concern that she was 166 00:09:18,960 --> 00:09:22,040 Speaker 1: being silenced over the accusation was based on in a 167 00:09:22,640 --> 00:09:28,800 Speaker 1: enormous misunderstanding. The reporter Mark Vityak says Ping was noticeably 168 00:09:28,840 --> 00:09:32,080 Speaker 1: cautious and nervous when answering about the so called affair. 169 00:09:32,400 --> 00:09:39,040 Speaker 1: When we began to speak about the affair personally, I 170 00:09:39,200 --> 00:09:45,000 Speaker 1: saw on her eyes that she would be very um um. 171 00:09:45,360 --> 00:09:49,760 Speaker 1: I'd almost good water attemptive. The paper had to ask 172 00:09:49,800 --> 00:09:53,480 Speaker 1: pre submitted questions in Chinese through a translator. Global News 173 00:09:53,559 --> 00:09:56,000 Speaker 1: twenty four hours a day on air and on Bloomberg 174 00:09:56,080 --> 00:09:59,480 Speaker 1: Quick Take, powered by more than twenty seven journalists analysts 175 00:09:59,480 --> 00:10:01,480 Speaker 1: more than a hund twenty countries. I'm Michael Bard. This 176 00:10:01,800 --> 00:10:09,600 Speaker 1: is Bloomberg, Nathan. Thanks Michael. Almost five ten on Wall Street, 177 00:10:09,640 --> 00:10:12,079 Speaker 1: time for the Bloomberg Sports Update. Good morning, John Stanshower, 178 00:10:12,280 --> 00:10:15,360 Speaker 1: Good morning Nathan. On December twenty seven and NETS for 179 00:10:15,440 --> 00:10:17,560 Speaker 1: twenty three and nine, they're in first place in the East. 180 00:10:17,600 --> 00:10:20,520 Speaker 1: Since then they are six and eighteen two and nine. 181 00:10:20,559 --> 00:10:22,959 Speaker 1: Since Kevin Durants knee injury in Denver, they lost their 182 00:10:23,000 --> 00:10:26,520 Speaker 1: eighth in r Ow one oh four. Too much Nicola 183 00:10:26,559 --> 00:10:29,319 Speaker 1: Yoki's twenty seven points of the triple double, Kyrie irving 184 00:10:29,320 --> 00:10:31,520 Speaker 1: at seven for Brooklyn. Durant will be back for a 185 00:10:31,520 --> 00:10:34,400 Speaker 1: few weeks. James Harden, now out with a hamstring injury, 186 00:10:34,400 --> 00:10:37,280 Speaker 1: also reportedly doesn't want to resign this summer, which has 187 00:10:37,320 --> 00:10:40,959 Speaker 1: led the trade rumors shot down by Nets coach Steve Nash. 188 00:10:41,080 --> 00:10:43,280 Speaker 1: I don't think anything has changed other than noise from 189 00:10:43,440 --> 00:10:47,480 Speaker 1: the outside. Who James wants to be here. We're building 190 00:10:47,800 --> 00:10:49,679 Speaker 1: with James, and we think we're the best chest to 191 00:10:49,679 --> 00:10:52,400 Speaker 1: war with James. So you know, I don't think anything's 192 00:10:52,480 --> 00:10:55,400 Speaker 1: changed on the inside, in our locker room, in our communication. 193 00:10:55,520 --> 00:10:57,120 Speaker 1: It's just all the noise for the eltside After know 194 00:10:57,160 --> 00:10:59,400 Speaker 1: when five road trip nets home tomorrow for the Celtics. 195 00:10:59,559 --> 00:11:02,720 Speaker 1: Nicks play tonight at Utah. The X next Carris Lavert 196 00:11:02,720 --> 00:11:05,839 Speaker 1: traded by Indiana to Cleveland. Iona is winning streak over 197 00:11:05,920 --> 00:11:08,439 Speaker 1: at eight. First conference lost for the Gales, they fell 198 00:11:08,480 --> 00:11:11,880 Speaker 1: a Niagara Manhattan lost. The condition is the Devil's best player. 199 00:11:11,960 --> 00:11:14,439 Speaker 1: Jack Used played in the NHL All Star Game in 200 00:11:14,480 --> 00:11:17,680 Speaker 1: Las Vegas on Saturday, got put on the COVID protocol list. 201 00:11:17,720 --> 00:11:20,840 Speaker 1: On Sunday, Saints Runny back. Alvin Camara played in the 202 00:11:20,840 --> 00:11:23,160 Speaker 1: Pro Bowl yesterday in Las Vegas, and then last night 203 00:11:23,400 --> 00:11:26,360 Speaker 1: got arrested for battering stemmers from an incident in the nightclub. 204 00:11:26,440 --> 00:11:29,920 Speaker 1: Camaro remains of jail. At the Olympics, New Zealand has 205 00:11:29,960 --> 00:11:33,080 Speaker 1: won a gold medal. United States still has not. Michaelis Shiffred, 206 00:11:33,120 --> 00:11:36,920 Speaker 1: defending champ for the Giant slalom, fell Red Gerard, defending 207 00:11:37,000 --> 00:11:40,200 Speaker 1: champ of the snowboarding slopestyle, finished fourth. US did win 208 00:11:40,240 --> 00:11:43,360 Speaker 1: a silver in the figure skating team of John Scatya 209 00:11:43,400 --> 00:11:46,199 Speaker 1: were Bloomberg Sports Nathan all Right, John, thanks right now. 210 00:11:46,320 --> 00:11:48,920 Speaker 1: SMP futures are falling by eight points. South futures down 211 00:11:48,920 --> 00:11:52,040 Speaker 1: eighty three, nast at futures down twenty three points. That tan. 212 00:11:52,080 --> 00:11:55,679 Speaker 1: Your treasury is down one thirty second yield one point 213 00:11:55,800 --> 00:11:57,960 Speaker 1: nine one per cent. We'll get you set for the 214 00:11:58,000 --> 00:12:01,840 Speaker 1: new trading week next with Lori Calvacina, head of US 215 00:12:01,880 --> 00:12:08,319 Speaker 1: Equity Strategy at r VC. This is Bloomberg Bloomberg eleven 216 00:12:08,360 --> 00:12:10,720 Speaker 1: three oh weather. Some freezing drizzle possible early this morning. 217 00:12:10,760 --> 00:12:12,800 Speaker 1: Otherwise light rained through the afternoon with a high in 218 00:12:12,800 --> 00:12:17,320 Speaker 1: your forty, mostly sunny mid forties Tomorrow and Wednesday, currently 219 00:12:17,400 --> 00:12:23,360 Speaker 1: thirty two and cloudy in Central Park markets. Headlines and 220 00:12:23,480 --> 00:12:26,760 Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com, 221 00:12:26,880 --> 00:12:30,400 Speaker 1: The Bloomberg Business at and at Bloomberg Quick Tape. He's 222 00:12:30,440 --> 00:12:39,680 Speaker 1: a Bloomberg Business Flash and I'm Karen Moscow. Stocks in 223 00:12:39,720 --> 00:12:42,600 Speaker 1: Europe are trimming gains in US stock index futures are 224 00:12:42,679 --> 00:12:45,439 Speaker 1: lower as investors take stock at the outlook for monetary 225 00:12:45,480 --> 00:12:48,720 Speaker 1: policy ahead of key inflation data later this week. Treasury 226 00:12:48,760 --> 00:12:51,400 Speaker 1: yields in the dollars stable. We checked the markets every 227 00:12:51,400 --> 00:12:54,319 Speaker 1: fifteen minutes throughout the trading day on Bloomberg S and 228 00:12:54,360 --> 00:12:57,120 Speaker 1: P futures down eight points down, futures down eighty one, 229 00:12:57,200 --> 00:13:00,520 Speaker 1: Nasadack futures down twenty four the decks and Ermany's up 230 00:13:00,520 --> 00:13:03,000 Speaker 1: a tenth of a percent and your treasury down one 231 00:13:03,040 --> 00:13:05,320 Speaker 1: thirty second You at one point nine one percent. They 232 00:13:05,360 --> 00:13:07,720 Speaker 1: yield on a two year one point to nine percent. 233 00:13:08,200 --> 00:13:10,640 Speaker 1: Ninemex scret oils down one point four percent out of 234 00:13:10,679 --> 00:13:13,400 Speaker 1: dollar thirty two and ninety dollars nine cents of barrel 235 00:13:13,679 --> 00:13:15,920 Speaker 1: comics called up two tenths per cent or three dollars 236 00:13:16,000 --> 00:13:19,480 Speaker 1: eighty cents at eighteen eleven sixty announced the euro one 237 00:13:19,559 --> 00:13:22,160 Speaker 1: point one four to four against the dollar, British pound 238 00:13:22,240 --> 00:13:24,360 Speaker 1: one point three five one eight and the ends at 239 00:13:24,400 --> 00:13:27,240 Speaker 1: one fifteen point oh six and Bitcoin this morning moving 240 00:13:27,360 --> 00:13:30,679 Speaker 1: higher at forty two four hundred nine dollars. That's a 241 00:13:30,720 --> 00:13:33,400 Speaker 1: Bloomberg business flash. Now here's Michael Barr with more on 242 00:13:33,520 --> 00:13:36,280 Speaker 1: what's going on around the world. Michael, good morning, Good morning. 243 00:13:36,360 --> 00:13:39,600 Speaker 1: Care in A state of emergency has been declared in Ottawa, Canada, 244 00:13:39,760 --> 00:13:43,280 Speaker 1: where hundreds of truck drivers continue to clog the streets 245 00:13:43,520 --> 00:13:46,559 Speaker 1: of the capital city. It is in a protest that 246 00:13:46,679 --> 00:13:50,720 Speaker 1: began in response to cross border vaccine mandates. Chinese tennis 247 00:13:50,720 --> 00:13:53,319 Speaker 1: star Ping Schwa told the French media outlet that she 248 00:13:53,480 --> 00:13:56,679 Speaker 1: never faced limitations on their movements after writing about an 249 00:13:56,720 --> 00:14:00,440 Speaker 1: affair with a former top Communist Party official. Pay denied 250 00:14:00,520 --> 00:14:03,439 Speaker 1: the affair. She made the comments after she met with 251 00:14:03,600 --> 00:14:07,520 Speaker 1: the IOC at the Olympics in Beijing. Sweden leads the 252 00:14:07,559 --> 00:14:10,800 Speaker 1: gold medal count with three, Russia leads the total medal 253 00:14:10,960 --> 00:14:14,360 Speaker 1: count with six. The US has three silvers. In the NBA, 254 00:14:14,559 --> 00:14:18,360 Speaker 1: the Nets lost the Celtics won in the NFL Pro Bowl. 255 00:14:19,000 --> 00:14:23,200 Speaker 1: The a f C beat the NFC. Global News twenty 256 00:14:23,240 --> 00:14:26,040 Speaker 1: four hours a day on air and on Bloomberg Quick Take, 257 00:14:26,080 --> 00:14:29,600 Speaker 1: powered by more than undred journalists and analysts more than 258 00:14:29,600 --> 00:14:33,760 Speaker 1: a hundred twenty countries. Michael bar this is Bloomberg. Nathan alright, Michael. Thanks, 259 00:14:33,800 --> 00:14:36,320 Speaker 1: It's five nineteen on Wall Street Live from the Bloomberg 260 00:14:36,360 --> 00:14:40,160 Speaker 1: Interactive Broker Studios. This is Bloomberg Daybreak as we embark 261 00:14:40,280 --> 00:14:43,840 Speaker 1: on another trading week. We're joined now by Lori Calvacina, 262 00:14:44,240 --> 00:14:47,800 Speaker 1: head of US Equity Strategy at RBC Capital Markets. Lorie, 263 00:14:47,840 --> 00:14:50,480 Speaker 1: great to have you with us as we continue to 264 00:14:50,520 --> 00:14:54,400 Speaker 1: assess the blowout upside surprise for last Friday's jobs report. 265 00:14:54,520 --> 00:14:57,200 Speaker 1: Has a lot of market participants thinking of mark trade 266 00:14:57,280 --> 00:15:02,200 Speaker 1: hike is pretty much on autopilot? Is is at your view? Well, 267 00:15:02,280 --> 00:15:04,040 Speaker 1: thanks for having me, as I always look, and that's 268 00:15:04,040 --> 00:15:06,160 Speaker 1: been the view of our economists for quite some time. 269 00:15:06,200 --> 00:15:08,480 Speaker 1: I mean, background Thanksgiving, they were telling us it could 270 00:15:08,480 --> 00:15:10,720 Speaker 1: be a fifty fifty shot for March rate hikes. So 271 00:15:11,280 --> 00:15:13,000 Speaker 1: you know that is our view. You know, I think 272 00:15:13,120 --> 00:15:16,240 Speaker 1: that it's pretty well understood in markets at this point 273 00:15:16,320 --> 00:15:18,760 Speaker 1: in time, and I think markets have also prepared for 274 00:15:18,840 --> 00:15:22,200 Speaker 1: the possibility of pretty aggressive moves from the Fed um 275 00:15:22,280 --> 00:15:24,200 Speaker 1: and so We actually made a call a week ago 276 00:15:24,320 --> 00:15:26,880 Speaker 1: that we think the FED repricing from the idea that 277 00:15:26,960 --> 00:15:28,800 Speaker 1: they're going to go that they're going to be aggressive. 278 00:15:29,000 --> 00:15:30,800 Speaker 1: We think that's pretty much in the market at this 279 00:15:30,920 --> 00:15:33,080 Speaker 1: point in time. So I don't think the Friday jobs 280 00:15:33,120 --> 00:15:35,840 Speaker 1: report really did anything to change our calculus there. If 281 00:15:35,880 --> 00:15:37,680 Speaker 1: you go back and you look at the average multiple 282 00:15:37,720 --> 00:15:40,080 Speaker 1: contraction that happens when the FED is moving from the 283 00:15:40,160 --> 00:15:42,240 Speaker 1: beginning of a tightening cycle to the trough in the 284 00:15:42,320 --> 00:15:44,920 Speaker 1: multiple in the tightening cycle, We've done that and on 285 00:15:45,040 --> 00:15:47,920 Speaker 1: average it's about sixteen percent. At our January lows, we 286 00:15:48,000 --> 00:15:50,920 Speaker 1: were at a seventeen percent on multiple contractions. So I 287 00:15:50,960 --> 00:15:53,640 Speaker 1: think it's up to the economy and earnings from here. Um. 288 00:15:53,720 --> 00:15:55,400 Speaker 1: But you know, and we're going to get some good 289 00:15:55,480 --> 00:15:57,800 Speaker 1: data this week on earnings. It sounds like you might 290 00:15:57,840 --> 00:15:59,480 Speaker 1: be in line with a note we got this morning 291 00:15:59,520 --> 00:16:02,920 Speaker 1: from JP Morgan Chase that the risks facing global stocks, 292 00:16:03,000 --> 00:16:06,720 Speaker 1: particularly from central banks, are pretty much priced into this 293 00:16:06,920 --> 00:16:10,600 Speaker 1: market and that equities have more room to run. Is 294 00:16:10,640 --> 00:16:13,480 Speaker 1: that your view. Yeah, we're sticking with our five thousand 295 00:16:13,560 --> 00:16:15,840 Speaker 1: fifty target and we actually and again we put this 296 00:16:15,920 --> 00:16:18,360 Speaker 1: out last Monday, so you know, we we've been talking 297 00:16:18,360 --> 00:16:19,960 Speaker 1: about this through a little bit, I know, Gina Martin 298 00:16:19,960 --> 00:16:22,360 Speaker 1: Adams on you know, the Bloomberg intelligence side has also 299 00:16:22,440 --> 00:16:25,080 Speaker 1: been making this call. Um. But look, I think that 300 00:16:25,360 --> 00:16:27,840 Speaker 1: you know, we looked at the a AII net Bull 301 00:16:27,880 --> 00:16:31,160 Speaker 1: Bear indicator and that's been down in Panic territory literally 302 00:16:31,280 --> 00:16:33,680 Speaker 1: got worse two weeks ago than what we saw and 303 00:16:33,840 --> 00:16:37,440 Speaker 1: at the lows of the pandemic back in and historically 304 00:16:37,560 --> 00:16:40,240 Speaker 1: when we're at such deep contrarian you know, sort of 305 00:16:40,480 --> 00:16:43,240 Speaker 1: you know, kind of bearished territory. What we see is 306 00:16:43,280 --> 00:16:45,480 Speaker 1: that stocks are up in the SMP five hundred about 307 00:16:45,520 --> 00:16:48,720 Speaker 1: fifteen percent on average over the next twelve months. And 308 00:16:48,760 --> 00:16:51,120 Speaker 1: so if you take the January lows apply a fifteen 309 00:16:51,160 --> 00:16:53,360 Speaker 1: percent moved to that get it pretty close to five 310 00:16:53,400 --> 00:16:56,040 Speaker 1: thousand on the SMP. So so I'm gonna the economy 311 00:16:56,240 --> 00:16:58,720 Speaker 1: holds um and as long as earning tolls and earnings 312 00:16:58,800 --> 00:17:01,080 Speaker 1: have been pretty solid so far, I think the bad 313 00:17:01,160 --> 00:17:03,360 Speaker 1: news is, you know, probably behind us and we can rally, 314 00:17:03,400 --> 00:17:05,520 Speaker 1: but those are some pretty big gifts, all right. So 315 00:17:05,640 --> 00:17:08,119 Speaker 1: we are about halfway through the earning cycle. Where do 316 00:17:08,280 --> 00:17:11,359 Speaker 1: you see the rest of the earning cycle going? Is 317 00:17:11,440 --> 00:17:15,600 Speaker 1: we have a number of healthcare companies, consumer discretionary tech 318 00:17:15,720 --> 00:17:18,840 Speaker 1: names still to report, So I think these are really 319 00:17:18,880 --> 00:17:21,640 Speaker 1: important sectors to come in, and I maybe put healthcare 320 00:17:21,760 --> 00:17:23,560 Speaker 1: is the lowest on that list. I think on the 321 00:17:23,640 --> 00:17:26,280 Speaker 1: consumer side, there's been a lot of questions emerging about 322 00:17:26,320 --> 00:17:28,960 Speaker 1: the low end consumer what we've seen in our reading 323 00:17:29,040 --> 00:17:31,440 Speaker 1: so far. As While there are some questions there, and 324 00:17:31,520 --> 00:17:34,359 Speaker 1: our economists has talked about how excess savings has been 325 00:17:34,359 --> 00:17:37,200 Speaker 1: worked down in that bottom plantile of consumers, the overall 326 00:17:37,240 --> 00:17:39,920 Speaker 1: consumer picture does look pretty rosy to us. So I 327 00:17:40,000 --> 00:17:42,320 Speaker 1: think it's a little bit premature to declare the death 328 00:17:42,400 --> 00:17:45,440 Speaker 1: of the consumer because of the last of stimulus payments 329 00:17:45,520 --> 00:17:47,520 Speaker 1: this year. So but we're frankly going to be watching 330 00:17:47,640 --> 00:17:50,119 Speaker 1: consumer companies in the next few weeks to see if 331 00:17:50,160 --> 00:17:52,680 Speaker 1: that rosy picture of the overall consumer holds up and 332 00:17:52,720 --> 00:17:55,480 Speaker 1: how bad these low end issues might actually be. Tech, 333 00:17:55,520 --> 00:17:57,800 Speaker 1: I think is important from a different perspective, because I 334 00:17:57,840 --> 00:18:00,440 Speaker 1: think tech has really been propping up margins and sup 335 00:18:00,560 --> 00:18:03,320 Speaker 1: in recent years. It's been propping up earnings um and 336 00:18:03,440 --> 00:18:05,720 Speaker 1: we need to see if that continues. So far, tech 337 00:18:05,800 --> 00:18:08,920 Speaker 1: has had the best reactions to earnings prints overall, even 338 00:18:08,960 --> 00:18:11,760 Speaker 1: though there have been a few high profile blow ups. Um, 339 00:18:11,840 --> 00:18:13,159 Speaker 1: but we need to see a tech is going to 340 00:18:13,240 --> 00:18:16,240 Speaker 1: continue to just be that pillar of supportive earnings going forward. 341 00:18:16,320 --> 00:18:18,560 Speaker 1: So far the news is good there. Yeah, I wonder 342 00:18:18,640 --> 00:18:20,879 Speaker 1: what you make of some of the dramatic moves that 343 00:18:21,000 --> 00:18:23,720 Speaker 1: we've seen on earnings, particularly in the last week where 344 00:18:23,760 --> 00:18:28,760 Speaker 1: we had beats getting huge rewards mrs like Meta seeing 345 00:18:28,800 --> 00:18:32,000 Speaker 1: the worst stock one stock drop in the history of 346 00:18:32,040 --> 00:18:34,399 Speaker 1: the market. What does that say about the health of 347 00:18:34,480 --> 00:18:38,240 Speaker 1: this market? So yeah, I probably don't react as negatively 348 00:18:38,560 --> 00:18:40,280 Speaker 1: as some people about this. You have to remember that 349 00:18:40,440 --> 00:18:43,040 Speaker 1: I've been you know, a strategists for more than twenty years, 350 00:18:43,119 --> 00:18:45,840 Speaker 1: and seven of those I've spent as a small cap strategists, 351 00:18:45,880 --> 00:18:48,359 Speaker 1: So I am used to seeing big swings and stocks, 352 00:18:48,440 --> 00:18:51,240 Speaker 1: especially around earnings. I mean, I think it may speak 353 00:18:51,280 --> 00:18:53,520 Speaker 1: to some of liquidity in the market. I think also, 354 00:18:54,040 --> 00:18:55,520 Speaker 1: you know what I've noticed I'm not going to get 355 00:18:55,520 --> 00:18:58,040 Speaker 1: in individual names, that there does seem to be a 356 00:18:58,119 --> 00:19:00,639 Speaker 1: difference and you know, sort of consumer related you know, 357 00:19:00,760 --> 00:19:03,960 Speaker 1: Internet technic names and corporate names. The corporate side seems 358 00:19:03,960 --> 00:19:06,520 Speaker 1: to be much healthier. But I would also say, you know, 359 00:19:06,960 --> 00:19:09,440 Speaker 1: in small cap we always learned to be wary of 360 00:19:09,560 --> 00:19:12,520 Speaker 1: bad stocks, and you know that's something that I've been 361 00:19:12,560 --> 00:19:14,919 Speaker 1: thinking about a lot in recent weeks, you know, especially 362 00:19:15,119 --> 00:19:17,800 Speaker 1: with some of the more corporate oriented tech companies holding 363 00:19:17,960 --> 00:19:20,359 Speaker 1: up better. Um. You know, I think that there are 364 00:19:20,720 --> 00:19:23,480 Speaker 1: problems in certain industries. I think there are problems in 365 00:19:23,560 --> 00:19:26,600 Speaker 1: certain companies, but overall, you know, I don't think that 366 00:19:26,840 --> 00:19:29,480 Speaker 1: that we're seeing massive problems in tech as a whole. 367 00:19:30,119 --> 00:19:32,119 Speaker 1: Always good to get your thoughts, LORI, thanks for being 368 00:19:32,200 --> 00:19:35,080 Speaker 1: on with us. Mari calvacin ahead of US equity strategy 369 00:19:35,520 --> 00:19:39,640 Speaker 1: at RBC Capital Markets. Futures moving a little lower this morning, 370 00:19:39,680 --> 00:19:42,400 Speaker 1: with SMP futures down down ten points, now futures down, 371 00:19:43,520 --> 00:19:47,159 Speaker 1: NASZAC futures lower by thirty two points. The tenure Treasury 372 00:19:47,240 --> 00:19:50,000 Speaker 1: is down one thirty second, the yield on the tenure 373 00:19:50,080 --> 00:19:53,360 Speaker 1: note one point nine one per cent. Just ahead, We're 374 00:19:53,359 --> 00:19:55,600 Speaker 1: gonna get more on the earnings picture this week, as 375 00:19:55,640 --> 00:19:59,119 Speaker 1: we are about halfway through fourth quarter earnings reporting season 376 00:19:59,240 --> 00:20:03,560 Speaker 1: and more. Joe Rogan Fallout for Spotify. You're listening to 377 00:20:03,600 --> 00:20:09,520 Speaker 1: Bloomberg Daybreak Bloomberg eleven three oh weather. Areas of freezing 378 00:20:09,600 --> 00:20:12,800 Speaker 1: drizzle possible this morning, Otherwise light rain developing this afternoon 379 00:20:12,800 --> 00:20:15,920 Speaker 1: in the high near forty degrees. Sunshine returns tomorrow will 380 00:20:15,960 --> 00:20:18,960 Speaker 1: be in the mid forties tomorrow and Wednesday. Currently thirty 381 00:20:19,080 --> 00:20:26,119 Speaker 1: two broadcasting live from the Bloomberg Interactive Broker Studio in 382 00:20:26,240 --> 00:20:29,280 Speaker 1: New York. Bloomberg E loving FO to Washington, d C, 383 00:20:29,440 --> 00:20:33,119 Speaker 1: Bloomberg N one to Boston, Bloomberg one O six one 384 00:20:33,280 --> 00:20:36,720 Speaker 1: to San Francisco, Bloomberg N sixty to the country, Sirius 385 00:20:36,880 --> 00:20:40,040 Speaker 1: XM H one nine and around the Blobe, the Bloomberg 386 00:20:40,080 --> 00:20:44,520 Speaker 1: Business app and Bloomberg Radio dot Com. This is Bloomberg Daybreak. 387 00:20:50,440 --> 00:20:52,560 Speaker 1: It's five thirty on Wall Street. Good morning. I'm Nathan 388 00:20:52,600 --> 00:20:55,640 Speaker 1: Hagar and I'm Karen Moscow, and we're just about four 389 00:20:55,720 --> 00:20:58,040 Speaker 1: hours away from the open of US trading. Let's get 390 00:20:58,080 --> 00:20:59,440 Speaker 1: you up to date on the news you need to know. 391 00:20:59,520 --> 00:21:02,160 Speaker 1: At this show, our US features are lower to start 392 00:21:02,280 --> 00:21:05,440 Speaker 1: the week, Wall Street is racing for inflation data and 393 00:21:05,520 --> 00:21:08,440 Speaker 1: another big week of earnings. We get more from Bloomberg's 394 00:21:08,480 --> 00:21:11,879 Speaker 1: Charlie Pellet. We've heard from about two hund s and 395 00:21:11,920 --> 00:21:15,360 Speaker 1: p five hundred companies so far, and about seventy six 396 00:21:15,480 --> 00:21:20,080 Speaker 1: percent have reported positive earning surprises, even with high profile 397 00:21:20,200 --> 00:21:24,560 Speaker 1: misses from companies including Metal Platforms and Netflix. Among the 398 00:21:24,840 --> 00:21:30,240 Speaker 1: US company's schedule to report this week are Emjine, Coca Cola, PepsiCo, Fiser, Twitter, 399 00:21:30,440 --> 00:21:35,000 Speaker 1: Tyson Foods, Uber, and Walt Disney in New York, Charlie Public, 400 00:21:35,080 --> 00:21:38,200 Speaker 1: Bloomberg Day Break, All Right, Charlie Thanks. Shares of Pelleton 401 00:21:38,240 --> 00:21:41,040 Speaker 1: are up nearly twenty four percent in early trading. The 402 00:21:41,119 --> 00:21:44,439 Speaker 1: home fitness company has become a potential takeover target following 403 00:21:44,480 --> 00:21:47,400 Speaker 1: a sharp plunge in its share price. Amazon and Nike 404 00:21:47,560 --> 00:21:51,840 Speaker 1: have been reported as possible suitors. Spotify remains in the spotlight. 405 00:21:52,040 --> 00:21:55,280 Speaker 1: This morning, Nathan, the company CEO, is speaking out once 406 00:21:55,320 --> 00:21:58,240 Speaker 1: again about podcaster Joe Rogan Let Me Get the Latest 407 00:21:58,320 --> 00:22:00,880 Speaker 1: Life from Bloomberg's Ready to Young, Good Morning, Ready Down, 408 00:22:00,880 --> 00:22:04,720 Speaker 1: Good Morning Karen. Spotify CEO Daniel Ecktel's staff that he's 409 00:22:04,760 --> 00:22:08,600 Speaker 1: deeply sorry for the impact of the controversy over Joe Rogan, 410 00:22:09,000 --> 00:22:12,480 Speaker 1: but he supports keeping rogan show on the platform. Rogan 411 00:22:12,520 --> 00:22:15,480 Speaker 1: has been under fire for repeatedly using racial slurs and 412 00:22:15,680 --> 00:22:20,359 Speaker 1: spreading COVID misinformation on his podcast. While several episodes have 413 00:22:20,480 --> 00:22:23,760 Speaker 1: been removed from Spotify, the company CEO said he does 414 00:22:23,840 --> 00:22:27,920 Speaker 1: not believe silencing Rogan is the answer. Instead, he says 415 00:22:27,960 --> 00:22:32,720 Speaker 1: Spotify will spend one million dollars to amplify marginalized voices 416 00:22:33,440 --> 00:22:36,960 Speaker 1: live in New York. I'm Reneda Young Bloomberg Daybreak. All right, Renita, thanks. 417 00:22:37,040 --> 00:22:40,399 Speaker 1: Turning to US politics now, President Biden's top advisors are 418 00:22:40,440 --> 00:22:44,120 Speaker 1: repackaging his economic message to the American public. It comes 419 00:22:44,160 --> 00:22:46,560 Speaker 1: at a time when the President's approval ratings are sinking 420 00:22:46,640 --> 00:22:50,280 Speaker 1: and his legislative agenda stalls in Congress. Going forward, the 421 00:22:50,359 --> 00:22:52,960 Speaker 1: President plans to put more emphasis on growth and wages, 422 00:22:53,119 --> 00:22:57,040 Speaker 1: union jobs, and domestic manufacturing, giving less weight to inflation 423 00:22:57,240 --> 00:23:01,000 Speaker 1: and COVID. And In politics overseas, nath Boris Johnson is 424 00:23:01,080 --> 00:23:03,159 Speaker 1: doing his best to hold on as Prime Minister of 425 00:23:03,200 --> 00:23:06,080 Speaker 1: the UK. He's overhauling his team after a series of 426 00:23:06,200 --> 00:23:09,639 Speaker 1: gaffs and scandals led to the resignation of five close aids, 427 00:23:10,040 --> 00:23:12,360 Speaker 1: but it may already be too late. On no confidence 428 00:23:12,440 --> 00:23:15,400 Speaker 1: vote on the Prime Minister could come as soon as 429 00:23:15,520 --> 00:23:18,920 Speaker 1: this week and again, futures this morning are moving lower. 430 00:23:19,200 --> 00:23:22,480 Speaker 1: S and P futures down ten points now futures down 431 00:23:22,560 --> 00:23:26,159 Speaker 1: one one, NASDAG features down twenty nine and the tenuere 432 00:23:26,240 --> 00:23:28,840 Speaker 1: Treasury little change. You'll to one point nine zero per 433 00:23:28,920 --> 00:23:32,000 Speaker 1: set straight ahead, your latest local headlines, plus a check 434 00:23:32,080 --> 00:23:39,120 Speaker 1: of sports, and this is Bloomberg. Thanks scared. It's five 435 00:23:39,200 --> 00:23:41,160 Speaker 1: thirty three on Wall Street, thirty two degrees in Central 436 00:23:41,200 --> 00:23:44,160 Speaker 1: Park multiple accidents this morning, including on the eastbound Grand 437 00:23:44,200 --> 00:23:46,960 Speaker 1: Central Parkway at the Q Gardens interchange. To tales coming 438 00:23:47,000 --> 00:23:49,720 Speaker 1: up in traffic. First Michael Barr with more on what's 439 00:23:49,760 --> 00:23:52,119 Speaker 1: going on in New York and around the world. Michael Nathan, 440 00:23:52,160 --> 00:23:54,960 Speaker 1: thank you very much. President Joe Biden and French President 441 00:23:55,000 --> 00:23:58,680 Speaker 1: Emmanuel mccrawl talked by a phone about responding to Russia's 442 00:23:58,720 --> 00:24:02,399 Speaker 1: military build up on the Ukrainian border. According to the 443 00:24:02,480 --> 00:24:05,240 Speaker 1: White House, Lacros is due to visit Moscow and Key 444 00:24:05,320 --> 00:24:08,880 Speaker 1: of this week. Meanwhile, White House National Security Advisor Jake 445 00:24:08,920 --> 00:24:12,359 Speaker 1: Sullivan says Russia could invade Ukraine any day if they 446 00:24:12,480 --> 00:24:15,359 Speaker 1: choose to go down the path of escalation instead. It 447 00:24:15,400 --> 00:24:18,960 Speaker 1: will come at enormous human cost to Ukrainians, but it 448 00:24:19,000 --> 00:24:22,600 Speaker 1: will also, we believe, over time, come at real strategic 449 00:24:22,680 --> 00:24:26,440 Speaker 1: cost to Vladimir Putin National Security Advisors. Sullivan spoke on 450 00:24:26,520 --> 00:24:29,399 Speaker 1: ABC S this week, which can be heard Sundays on 451 00:24:29,520 --> 00:24:33,560 Speaker 1: Bloomberg outdoor dining Maybe here to Stay In New York. Tomorrow, 452 00:24:33,640 --> 00:24:35,720 Speaker 1: the city Council will begin debating a new bill to 453 00:24:35,800 --> 00:24:40,280 Speaker 1: make the dining sheds permanent. Marjorie Velasquez is the sponsor 454 00:24:40,320 --> 00:24:42,680 Speaker 1: of the bill. She told ABC seven it's important we 455 00:24:42,760 --> 00:24:46,399 Speaker 1: save our small businesses, our restaurants. What's worse to public 456 00:24:46,480 --> 00:24:50,840 Speaker 1: safety is an empty storefront. Meanwhile, dozens protested in the 457 00:24:50,960 --> 00:24:55,240 Speaker 1: village over the weekend. They say the outdoor sheds increase garbage, 458 00:24:55,359 --> 00:24:58,800 Speaker 1: rats and people sleeping in the sheds. And investigation is 459 00:24:58,880 --> 00:25:02,080 Speaker 1: underway into the death of a Navy seal candidate after 460 00:25:02,320 --> 00:25:05,879 Speaker 1: days of intense training. New Jersey native Kyle mullen And 461 00:25:06,000 --> 00:25:09,000 Speaker 1: fell ill Friday and was taken to the hospital just 462 00:25:09,160 --> 00:25:13,120 Speaker 1: hours after completing the grueling seal training program known as 463 00:25:13,240 --> 00:25:17,600 Speaker 1: Hell Week. Retired Navy Seal Admiral Robert Harward says, it's 464 00:25:17,640 --> 00:25:20,720 Speaker 1: a very tough course. You're not sleeping for a whole 465 00:25:20,760 --> 00:25:23,280 Speaker 1: week to get about I think four or five hours 466 00:25:23,400 --> 00:25:27,080 Speaker 1: of sleep the entire week. You're in the ocean incessantly, 467 00:25:27,240 --> 00:25:32,639 Speaker 1: so your experienced hypothermia. Resired Admiral Robert Harward, Kyle Mullen 468 00:25:32,840 --> 00:25:36,879 Speaker 1: was twenty four. Canada's capital city declared a state of emergency. 469 00:25:37,000 --> 00:25:39,879 Speaker 1: Police in Ottawa are struggling the rain in protest against 470 00:25:39,960 --> 00:25:44,640 Speaker 1: vaccine mandates and COVID nineteen restrictions. Hundreds of trucks continue 471 00:25:44,640 --> 00:25:48,160 Speaker 1: to occupy the downtown area. Global News twenty four hours 472 00:25:48,200 --> 00:25:51,399 Speaker 1: a day on air and on Bloomberg Quicktake, powered by 473 00:25:51,440 --> 00:25:53,879 Speaker 1: more than twenty seven hundred journalist and analyst more than 474 00:25:53,880 --> 00:25:57,000 Speaker 1: a hundred twenty countries. Him Michael bar This is Bloomberg Natheran. 475 00:25:57,119 --> 00:26:04,720 Speaker 1: Thanks Michael. On Wall Street time for the Bloomberg Sports 476 00:26:04,760 --> 00:26:07,919 Speaker 1: Update with John Stashow ranks. Nathan. Three days into the Olympics, 477 00:26:08,080 --> 00:26:10,560 Speaker 1: United States has not yet won a gold medal, did 478 00:26:10,640 --> 00:26:13,240 Speaker 1: win a third silver. It came in the figure skating 479 00:26:13,320 --> 00:26:16,520 Speaker 1: team event. The Russian Olympic committee has expected won the gold, 480 00:26:16,560 --> 00:26:19,720 Speaker 1: led by their fifteen year old phenom Camilla Valley. A 481 00:26:19,800 --> 00:26:22,280 Speaker 1: but but disappointment from a Kayla Schiffer and unable to 482 00:26:22,359 --> 00:26:25,400 Speaker 1: defend her title and the giant smile um she fell 483 00:26:25,520 --> 00:26:29,040 Speaker 1: on her first run. It's just this one turning had 484 00:26:29,119 --> 00:26:32,159 Speaker 1: the this a small small miss timing of when I 485 00:26:32,280 --> 00:26:37,080 Speaker 1: really went to push and m and that makes all 486 00:26:37,160 --> 00:26:39,640 Speaker 1: the difference. Swede and Sarah Hector won the gold medal 487 00:26:39,680 --> 00:26:41,360 Speaker 1: shipp and will have two more chances for a medal. 488 00:26:41,440 --> 00:26:44,440 Speaker 1: Canadian Max Parrott won gold in the snowboarding men's slope 489 00:26:44,440 --> 00:26:47,400 Speaker 1: style American Red Gerard who won gold in this event 490 00:26:47,440 --> 00:26:50,720 Speaker 1: four years ago at age seventeen, this time finished fourth 491 00:26:50,800 --> 00:26:52,480 Speaker 1: he had to lead after his first run, and no 492 00:26:52,600 --> 00:26:55,280 Speaker 1: medal for Britney Bowen speed skating the gold one by 493 00:26:55,560 --> 00:26:58,960 Speaker 1: Irene Weist at age thirty five, her fifth career gold medal. 494 00:26:59,359 --> 00:27:01,320 Speaker 1: That at set up five game road trip and lost 495 00:27:01,400 --> 00:27:03,639 Speaker 1: all five, come home with an eighth game. Wison Strake 496 00:27:03,680 --> 00:27:07,480 Speaker 1: blown out in Denver one oh four, Nicola Yoket's twenty 497 00:27:07,520 --> 00:27:10,280 Speaker 1: seven points in a triple double. Kyrie Irving led Brooklyn 498 00:27:10,359 --> 00:27:12,560 Speaker 1: with twenty seven. The a FC won the Pro Bowl, 499 00:27:12,680 --> 00:27:14,639 Speaker 1: a game with eight turnovers, and then last night in 500 00:27:14,720 --> 00:27:18,200 Speaker 1: Las Vegas, STS running back Alvin Kimara, after playing in 501 00:27:18,240 --> 00:27:21,439 Speaker 1: the game, got arrested for battery. He remains in jail. 502 00:27:21,720 --> 00:27:24,320 Speaker 1: The Miami Dolphins named thirty eight year old Mike McDaniel 503 00:27:24,400 --> 00:27:26,320 Speaker 1: their new head coach. He had been the forty Niners 504 00:27:26,400 --> 00:27:28,920 Speaker 1: offensive coinator. Tom Hogan won the eight t and T 505 00:27:29,080 --> 00:27:31,679 Speaker 1: Golf at Pebble Beach. Rallied past Jordan's speed to win 506 00:27:31,800 --> 00:27:34,080 Speaker 1: by two for his first PGA win, and now he 507 00:27:34,160 --> 00:27:37,360 Speaker 1: gets an invite to the upcoming Masters. John stash Ellen, 508 00:27:37,440 --> 00:27:40,680 Speaker 1: Bloomberg Sports Thanks Sean. It's thirty seven on Wall Street 509 00:27:40,720 --> 00:27:43,480 Speaker 1: time for the Tri State Business Report with Bloomberg's Karen 510 00:27:43,560 --> 00:27:46,840 Speaker 1: Chase and f T s Maybe the new cool ticket 511 00:27:46,880 --> 00:27:49,760 Speaker 1: for entry just some of New York City's hottest night spots. 512 00:27:50,119 --> 00:27:52,480 Speaker 1: Some clubs may soon require proof that you own a 513 00:27:52,560 --> 00:27:55,480 Speaker 1: non fungible token to enter and party with light minded 514 00:27:55,520 --> 00:27:59,280 Speaker 1: crypto fans. Memberships and clubs like Maxwell Tribeca, which opens 515 00:27:59,320 --> 00:28:02,119 Speaker 1: this summer, will started a thousand dollars. Owners say n 516 00:28:02,240 --> 00:28:05,400 Speaker 1: f T ownership will become a coveted symbol of social status. 517 00:28:05,760 --> 00:28:09,000 Speaker 1: Two major shareholders of New Jersey based Unilever are calling 518 00:28:09,080 --> 00:28:11,359 Speaker 1: for the maker of Dove soap to reorganize the company 519 00:28:11,480 --> 00:28:14,600 Speaker 1: or its board. The Financial Times reports that CEO Alan 520 00:28:14,680 --> 00:28:17,879 Speaker 1: Jope is facing growing pressure to accelerate a revamp of 521 00:28:17,920 --> 00:28:21,320 Speaker 1: the company. Shareholder discontent gains in light of the failed 522 00:28:21,359 --> 00:28:24,840 Speaker 1: bid to buy Glaxo Smith Klein's consumer health unit, and 523 00:28:25,080 --> 00:28:28,000 Speaker 1: it's taken a thousand days. But finally, a former Goldman 524 00:28:28,040 --> 00:28:30,840 Speaker 1: Sachs banker Roger Ang is due to stand trial on 525 00:28:31,000 --> 00:28:33,479 Speaker 1: charges for his role in a scheme to lute billions 526 00:28:33,560 --> 00:28:36,560 Speaker 1: from the Malaysian fund known as one m dB. In 527 00:28:36,720 --> 00:28:39,880 Speaker 1: that time, Malaysia's former Prime minister has been convicted of crimes, 528 00:28:40,120 --> 00:28:43,160 Speaker 1: while Goldman has paid five billion dollars in fines. And 529 00:28:43,280 --> 00:28:47,040 Speaker 1: that's your Tri State business report. I'm Karen Chase. Okay, Karen. Thanks. 530 00:28:47,080 --> 00:28:49,440 Speaker 1: It's five thirty eight on Wall Street. Bloomberg Radio is 531 00:28:49,480 --> 00:28:51,720 Speaker 1: on the air from San Francisco to New York, London 532 00:28:51,800 --> 00:28:54,120 Speaker 1: to Hong Kong. Let's check in with our global news 533 00:28:54,160 --> 00:28:55,880 Speaker 1: team for some of the top stories heard on our 534 00:28:55,960 --> 00:29:02,240 Speaker 1: three hundred affiliate radio stations around the world. I'm Steve 535 00:29:02,360 --> 00:29:05,440 Speaker 1: Potoscan on ten ten Wins in New York. We're talking 536 00:29:05,480 --> 00:29:09,600 Speaker 1: about the revival of the storied Wall Street name Solomon Brothers. 537 00:29:10,120 --> 00:29:12,920 Speaker 1: I'm Corney Danahoe on w h A S M. Louisville. 538 00:29:13,000 --> 00:29:15,800 Speaker 1: The Postal Service said it will buy more electric vehicles 539 00:29:15,920 --> 00:29:18,360 Speaker 1: if he gets the funding. I'm Caroline Head called bloom 540 00:29:18,360 --> 00:29:21,440 Speaker 1: Bag dab Dishal Radio in London, Womenport on Taylor Wimpy 541 00:29:21,480 --> 00:29:24,920 Speaker 1: appointing a new CEO are female leader. In the fifty 542 00:29:24,960 --> 00:29:28,720 Speaker 1: one hundred Jenny Daily, I'm Bloomberg's Karen Chase, and for 543 00:29:29,000 --> 00:29:31,920 Speaker 1: w o AI and San Antonio, I'll be reporting on 544 00:29:32,000 --> 00:29:35,640 Speaker 1: Senator Ted Cruz's latest investment. For those are some of 545 00:29:35,680 --> 00:29:38,800 Speaker 1: the stories our undred Bloomberg journalists and analysts are working 546 00:29:38,840 --> 00:29:41,400 Speaker 1: on this morning around the world. It's five thirty nine 547 00:29:41,440 --> 00:29:45,280 Speaker 1: on Wall Street. The following is an editorial from Bloomberg Opinion. 548 00:29:45,600 --> 00:29:48,880 Speaker 1: As lawmakers discuss what can be salvage from President Joe 549 00:29:48,920 --> 00:29:52,200 Speaker 1: biden stalled Build Back Better plan, one of its smaller 550 00:29:52,240 --> 00:29:55,760 Speaker 1: pieces is worth highlighting a proposal to cut the prices 551 00:29:55,800 --> 00:30:00,280 Speaker 1: Americans pay for prescription drugs. Right now, met of Care 552 00:30:00,440 --> 00:30:02,520 Speaker 1: is barred from doing what it's for an equivalence to 553 00:30:02,600 --> 00:30:05,800 Speaker 1: take for granted, using its bargaining power to get better 554 00:30:05,920 --> 00:30:09,720 Speaker 1: drug prices. As a result, Americans pay vastly more for 555 00:30:09,800 --> 00:30:14,600 Speaker 1: pharmaceuticals than people in other countries do. The proposal issue 556 00:30:14,960 --> 00:30:18,600 Speaker 1: is modest. It would allow Medicare to negotiate the price 557 00:30:18,680 --> 00:30:21,840 Speaker 1: of just ten drugs in its first year, but it 558 00:30:21,880 --> 00:30:25,880 Speaker 1: would still save eighty billion dollars over ten years, and 559 00:30:25,960 --> 00:30:29,480 Speaker 1: it would establish the principle that Medicare can press down 560 00:30:29,680 --> 00:30:33,200 Speaker 1: on drug prices. If Biden wants to rally voters to 561 00:30:33,280 --> 00:30:37,440 Speaker 1: a side, this is a prescription that could work. This 562 00:30:37,680 --> 00:30:40,920 Speaker 1: editorial was written by the Bloomberg Opinion Editorial Board. I'm 563 00:30:41,000 --> 00:30:44,000 Speaker 1: David Shipley. For more Bloomberg opinion, please go to Bloomberg 564 00:30:44,040 --> 00:30:47,560 Speaker 1: dot com, slash opinion or OPA and go on the 565 00:30:47,600 --> 00:30:51,280 Speaker 1: Bloomberg terminal. This has been Bloomberg Opinion. You can hear 566 00:30:51,320 --> 00:30:55,520 Speaker 1: Bloomberg opinion editorials every weekday. At this time, terminal customers 567 00:30:55,680 --> 00:30:59,400 Speaker 1: can read more at O, P, I, n GO, SMP 568 00:30:59,560 --> 00:31:02,440 Speaker 1: futures down down eleven point, staff futures down a hundred 569 00:31:02,480 --> 00:31:05,520 Speaker 1: five nastack future is lower by twenty eight points. The 570 00:31:05,640 --> 00:31:08,760 Speaker 1: tenure treasury is down one thirty second, the yield one 571 00:31:08,920 --> 00:31:11,920 Speaker 1: point nine one per cent. The latest on the pandemic 572 00:31:12,040 --> 00:31:15,480 Speaker 1: as the US crosses nine hundred thousand deaths from COVID, 573 00:31:15,920 --> 00:31:19,440 Speaker 1: Gigi Grandvall from Johns Hopkins joins US. Next. This is 574 00:31:19,520 --> 00:31:25,120 Speaker 1: Bloomberg Bloomberg eleven three oh weather. Freezing drizzle this morning, 575 00:31:25,280 --> 00:31:27,719 Speaker 1: light rain this afternoon, with a high near forty degrees, 576 00:31:27,760 --> 00:31:30,800 Speaker 1: mostly Sunday Tomorrow mid forties, moving the low forties under 577 00:31:30,840 --> 00:31:33,600 Speaker 1: sunshine on Wednesday right now thirty two and cloudy in 578 00:31:33,680 --> 00:31:40,240 Speaker 1: Central Park. Markets headlines and breaking news twenty four hours 579 00:31:40,280 --> 00:31:43,240 Speaker 1: a day at Bloomberg dot Com blo Bloomberg Business Out 580 00:31:43,360 --> 00:31:53,160 Speaker 1: and at Bloomberg Quick Tape is a Bloomberg Business lash Fin. 581 00:31:53,240 --> 00:31:56,200 Speaker 1: I'm Karen Moscow. US stock index futures are lower, and 582 00:31:56,280 --> 00:32:00,520 Speaker 1: stocks in Europe a racing averic gains as invests take 583 00:32:00,640 --> 00:32:03,480 Speaker 1: stock out of the outlook for monetary policy ahead of 584 00:32:03,560 --> 00:32:07,360 Speaker 1: key inflation data later this week. Treasuries and the dollars stable, 585 00:32:07,480 --> 00:32:10,080 Speaker 1: though the route in European sovereign bonds is deepening. We 586 00:32:10,200 --> 00:32:12,600 Speaker 1: checked the markets every fifteen minutes throughout the trading day. 587 00:32:12,960 --> 00:32:15,520 Speaker 1: On Bloomberg Guess and P Future is down six points 588 00:32:15,640 --> 00:32:18,520 Speaker 1: now down Future is down sixty five and as Deck 589 00:32:18,640 --> 00:32:21,680 Speaker 1: futures little change, down six The decks in Germany little 590 00:32:21,760 --> 00:32:24,560 Speaker 1: changed as well. Ten Your treasury down two thirties seconds 591 00:32:24,600 --> 00:32:26,520 Speaker 1: you had one point nine one percent. They yield on 592 00:32:26,600 --> 00:32:29,360 Speaker 1: the two year one point three zero percent. No max 593 00:32:29,400 --> 00:32:31,760 Speaker 1: Screwed oil is down one point one percent on ninety 594 00:32:31,800 --> 00:32:34,080 Speaker 1: seven cents at ninety one dollar. Thirty four cents of 595 00:32:34,120 --> 00:32:36,560 Speaker 1: barrel comics gold up two tens per cent or three 596 00:32:36,600 --> 00:32:39,560 Speaker 1: dollars ninety cents at eighteen eleven seventy an ounce, the 597 00:32:39,640 --> 00:32:42,680 Speaker 1: euro one point one four to zero against the dollar, 598 00:32:42,760 --> 00:32:45,600 Speaker 1: British found one point three five o four, the ends 599 00:32:45,640 --> 00:32:48,760 Speaker 1: at one fifteen point oh four, and Bitcoin this morning 600 00:32:48,840 --> 00:32:52,320 Speaker 1: moving higher at forty two thousand, six hundred dollars. That's 601 00:32:52,360 --> 00:32:54,920 Speaker 1: a Bloomberg business flash. Now here's Michael Barr with more 602 00:32:54,960 --> 00:32:57,840 Speaker 1: on what's going on around the world. Muchaele Karen, thank 603 00:32:57,840 --> 00:33:00,760 Speaker 1: you very much. French President of Manuel mccrawl meets Russian 604 00:33:00,800 --> 00:33:04,200 Speaker 1: President Vladimir Putin in Moscow today about the military build 605 00:33:04,240 --> 00:33:08,840 Speaker 1: up on Ukraine's borders. Russia has repeatedly denied having plans 606 00:33:08,960 --> 00:33:12,680 Speaker 1: to attack U. N experts say North Korea is continuing 607 00:33:12,760 --> 00:33:16,200 Speaker 1: to steal hundreds of millions of dollars from financial institutions 608 00:33:16,560 --> 00:33:20,920 Speaker 1: and cryptocurrency firms and exchanges. The illicit money has become 609 00:33:20,960 --> 00:33:23,840 Speaker 1: an important source of revenue for the government and its 610 00:33:23,960 --> 00:33:28,080 Speaker 1: nuclear and missile programs. At the Olympics in Beijing, Sweden 611 00:33:28,280 --> 00:33:31,720 Speaker 1: leads the gold medal account with three, Russia leads the 612 00:33:31,800 --> 00:33:35,000 Speaker 1: total medal account with six. The US has three solvers 613 00:33:35,280 --> 00:33:37,920 Speaker 1: in the NBA. The Nets lost the Celtics one in 614 00:33:37,960 --> 00:33:40,760 Speaker 1: the NFL Pro Bowl, the a f C beat the NFC. 615 00:33:40,960 --> 00:33:44,640 Speaker 1: For Global news twenty four hours a day on air 616 00:33:44,760 --> 00:33:47,920 Speaker 1: and on Bloomberg Quicktake, powered by more than twenty seven 617 00:33:48,000 --> 00:33:50,320 Speaker 1: hundred journalists and analyst for more than a hundred twenty countries. 618 00:33:50,600 --> 00:33:53,360 Speaker 1: Michael bar This is Bloomberg. Nathan Okay, Michael. Thanks, It's 619 00:33:53,400 --> 00:33:55,720 Speaker 1: five forty nine on Wall Street Live from the Bloomberg 620 00:33:55,760 --> 00:33:59,000 Speaker 1: Interactive Broker Studios. This is Bloomberg Daybreak. We want to 621 00:33:59,000 --> 00:34:01,000 Speaker 1: get an update on the pandemic now. For that, we're 622 00:34:01,080 --> 00:34:03,760 Speaker 1: joined by a grand Ball, professor at the Johns Hopkins 623 00:34:03,800 --> 00:34:06,320 Speaker 1: Bloomberg School of Public Health. Professor, It's good to have 624 00:34:06,440 --> 00:34:08,279 Speaker 1: you with us this morning, though, of course, not so 625 00:34:08,440 --> 00:34:10,799 Speaker 1: good news when you talk about the pandemic as a whole. 626 00:34:10,880 --> 00:34:12,960 Speaker 1: Over the weekend, as you know, the u S crossed 627 00:34:13,080 --> 00:34:16,960 Speaker 1: nine hundred thousand deaths from COVID nineteen since the beginning 628 00:34:16,960 --> 00:34:19,160 Speaker 1: of the pandemic. At the same time, we're seeing case 629 00:34:19,280 --> 00:34:22,279 Speaker 1: counts begin to drop in just about every state. So 630 00:34:22,400 --> 00:34:24,719 Speaker 1: where would you say we are in the pandemic at 631 00:34:24,760 --> 00:34:29,000 Speaker 1: this point, Well, we're almost at the end of the 632 00:34:29,239 --> 00:34:33,160 Speaker 1: am CON search and so we're thankfully seeing lots of 633 00:34:33,680 --> 00:34:38,800 Speaker 1: drops in UM in viral loads and wastewater surveillance systems, 634 00:34:39,280 --> 00:34:43,560 Speaker 1: in hospitalizations, and in a few weeks, because deaths are 635 00:34:43,760 --> 00:34:47,720 Speaker 1: a lagging indicator, we'll see UM drops in the total 636 00:34:47,800 --> 00:34:51,200 Speaker 1: mortality rate during the daily mortality rate as well. If 637 00:34:51,239 --> 00:34:53,520 Speaker 1: you say we're close to the end of the macron wave, 638 00:34:53,760 --> 00:34:56,440 Speaker 1: are you concerned that we could see waves in the 639 00:34:56,600 --> 00:35:01,040 Speaker 1: future from other variants. We are. Every time we give 640 00:35:01,160 --> 00:35:03,680 Speaker 1: the virus a chance to replicate, it gives it a 641 00:35:03,800 --> 00:35:07,759 Speaker 1: chance to mutate, and so UM we need to consider 642 00:35:08,400 --> 00:35:11,239 Speaker 1: how we vaccinate the world. We need to double down 643 00:35:11,320 --> 00:35:14,680 Speaker 1: on doing that because UM, there are huge pockets of 644 00:35:14,760 --> 00:35:17,080 Speaker 1: the world that are they haven't had one shot yet 645 00:35:17,239 --> 00:35:20,480 Speaker 1: or the ability to to be offered one, So UM 646 00:35:20,680 --> 00:35:23,000 Speaker 1: we need to work on that to reduce the chances 647 00:35:23,040 --> 00:35:26,160 Speaker 1: of another search. Is that where the focus really is 648 00:35:26,239 --> 00:35:29,200 Speaker 1: going to be going forward. Are you implying that we've 649 00:35:29,280 --> 00:35:34,799 Speaker 1: sort of topped out when it comes to getting Americans vaccinated? 650 00:35:36,239 --> 00:35:38,960 Speaker 1: I don't think so. I think that there's still good 651 00:35:39,040 --> 00:35:43,000 Speaker 1: work to be done, and especially with UM to help 652 00:35:43,840 --> 00:35:47,239 Speaker 1: parents see the information that's ness that to be able 653 00:35:47,280 --> 00:35:50,320 Speaker 1: to vaccinate their children and soon we'll be um, I 654 00:35:50,400 --> 00:35:53,279 Speaker 1: think able to start vaccinating the under five crowd as well. 655 00:35:53,480 --> 00:35:56,800 Speaker 1: So UM, so that's these will help UM in the 656 00:35:56,920 --> 00:36:00,920 Speaker 1: United States. But yeah, it's hard to convince people adults 657 00:36:01,000 --> 00:36:03,160 Speaker 1: that are committed to not get in the vaccine. It 658 00:36:03,560 --> 00:36:05,640 Speaker 1: it takes a lot of one on one discussions and 659 00:36:05,760 --> 00:36:08,359 Speaker 1: it's a lot of time. Is it hard to get 660 00:36:08,480 --> 00:36:12,080 Speaker 1: the parents of kids to be convinced to get vaccinated 661 00:36:12,160 --> 00:36:15,440 Speaker 1: as well? Because we've seen that only about a third 662 00:36:16,120 --> 00:36:19,400 Speaker 1: of eligible children have gotten vaccinated at this point. It 663 00:36:19,480 --> 00:36:23,480 Speaker 1: makes you wonder if and when we do see vaccines 664 00:36:23,520 --> 00:36:26,880 Speaker 1: approved for just about all kids, whether that pattern is 665 00:36:26,880 --> 00:36:30,520 Speaker 1: going to be repeated. Yeah, I think, um, it's I 666 00:36:30,600 --> 00:36:34,200 Speaker 1: think this is part of the problem of the messages 667 00:36:34,320 --> 00:36:36,319 Speaker 1: that have gone out in the last couple of years 668 00:36:36,400 --> 00:36:39,120 Speaker 1: that focusing on this is a disease of older adults. 669 00:36:39,560 --> 00:36:42,440 Speaker 1: UM children are likely to be just fine if they 670 00:36:42,480 --> 00:36:45,080 Speaker 1: get the disease, and that's really not the case. UM. 671 00:36:45,560 --> 00:36:48,680 Speaker 1: You know, sure many children do just fine, but they 672 00:36:48,800 --> 00:36:52,480 Speaker 1: do much worse with this than the flu and UM, 673 00:36:52,760 --> 00:36:56,160 Speaker 1: and we have a very safe and effective vaccine that 674 00:36:56,239 --> 00:37:02,439 Speaker 1: will prevent most of the hysterious air complications that come 675 00:37:02,560 --> 00:37:05,879 Speaker 1: from COVID and children. Of course, there have been these 676 00:37:05,960 --> 00:37:08,719 Speaker 1: protests north of the border. We've been talking about for 677 00:37:08,840 --> 00:37:13,399 Speaker 1: several days now, the trucker protests in Ottawa, Canada. We've 678 00:37:13,440 --> 00:37:16,439 Speaker 1: also seen reports of some of that spilling over into 679 00:37:16,520 --> 00:37:20,239 Speaker 1: Australia as well. Are you concerned at all about the 680 00:37:20,320 --> 00:37:24,880 Speaker 1: effect that these kinds of public protests can have on 681 00:37:25,080 --> 00:37:29,880 Speaker 1: fighting the pandemic? Um? Sure, this kind of lawlessness is 682 00:37:30,320 --> 00:37:34,759 Speaker 1: is definitely a problem, um for many reasons. But um, 683 00:37:35,120 --> 00:37:37,680 Speaker 1: but you know that that aside, most people are not 684 00:37:37,840 --> 00:37:42,160 Speaker 1: at those at those quote unquote protests. UM. They um 685 00:37:42,360 --> 00:37:45,239 Speaker 1: just want to have their families be safe, and uh, 686 00:37:45,640 --> 00:37:49,200 Speaker 1: the vaccine has a lot of great potential to help 687 00:37:49,280 --> 00:37:51,480 Speaker 1: them be safe. And so we just made need to 688 00:37:51,560 --> 00:37:54,719 Speaker 1: make sure we get the message out. As always, Thanks 689 00:37:54,840 --> 00:37:58,160 Speaker 1: for getting that message out. We appreciate your insights as always. 690 00:37:58,200 --> 00:38:01,120 Speaker 1: Gig ground Fall is a professor at the Johns Hopkins 691 00:38:01,160 --> 00:38:04,680 Speaker 1: Bloomberg School of Public Health, which is supported by Michael Bloomberg. 692 00:38:04,760 --> 00:38:08,279 Speaker 1: He's the founder and majority owner of Bloomberg LP, and 693 00:38:08,360 --> 00:38:12,279 Speaker 1: that is the parent company of Bloomberg Radio. Karen, Alright, Nathan, 694 00:38:12,320 --> 00:38:14,839 Speaker 1: it is five fifty three on Wall Street. It's time 695 00:38:14,920 --> 00:38:17,719 Speaker 1: for our Bloomberg The Law Report. Let's get to the 696 00:38:17,800 --> 00:38:21,520 Speaker 1: legal stories we're watching this morning. From Bloomberg's Jeff Bellinger, 697 00:38:24,680 --> 00:38:27,239 Speaker 1: the i R sent nearly twelve times as many math 698 00:38:27,280 --> 00:38:30,200 Speaker 1: there were notices in twenty twenty one, then in twenty 699 00:38:30,239 --> 00:38:33,600 Speaker 1: twenty agency attorney adviser says he expects the number of 700 00:38:33,680 --> 00:38:36,919 Speaker 1: notices to remain high this year. A federal trial court 701 00:38:36,960 --> 00:38:39,840 Speaker 1: in Oregon dismissed a civil rights suit filed against federal 702 00:38:39,960 --> 00:38:43,640 Speaker 1: officers who tear gassed Black Lives Matter protesters in front 703 00:38:43,680 --> 00:38:46,759 Speaker 1: of a federal courthouse in Portland. Signature m D was 704 00:38:46,840 --> 00:38:50,080 Speaker 1: hit with federal antitrust claims in Los Angeles over an 705 00:38:50,120 --> 00:38:53,440 Speaker 1: alleged scheme by his chief executive to crush a fledgling 706 00:38:53,560 --> 00:38:58,480 Speaker 1: rival through sham litigation. Bloomberg Law everything you need, all 707 00:38:58,640 --> 00:39:03,279 Speaker 1: on one legal research platform, including guidance analysis and Bloomberg 708 00:39:03,360 --> 00:39:08,680 Speaker 1: Market Intelligence. Find out more at Bloomberg Law dot com. Alright, Jeff, 709 00:39:08,719 --> 00:39:11,840 Speaker 1: thank you. Now. Another legal story where watching brings us 710 00:39:11,920 --> 00:39:15,520 Speaker 1: to read drawing congressional maps. A panel of three federal 711 00:39:15,640 --> 00:39:18,560 Speaker 1: judges has ordered the state of Alabama to draw a 712 00:39:18,640 --> 00:39:21,800 Speaker 1: new congressional map and include a second district with a 713 00:39:21,840 --> 00:39:26,040 Speaker 1: substantial number of minority voters. The state is currently represented 714 00:39:26,080 --> 00:39:29,640 Speaker 1: by one black Democrat elected from the state's only majority 715 00:39:29,719 --> 00:39:33,560 Speaker 1: black district and six white Republicans elected from the state's 716 00:39:33,600 --> 00:39:38,239 Speaker 1: heavily white districts, even though about percent of Alabama's population 717 00:39:38,480 --> 00:39:41,160 Speaker 1: is black. The state is appealing to the Supreme Court 718 00:39:41,200 --> 00:39:43,560 Speaker 1: in the first election dispute to reach the High Court 719 00:39:43,640 --> 00:39:46,520 Speaker 1: in this year. For more in this case, Bloomberg shtun 720 00:39:46,560 --> 00:39:49,880 Speaker 1: Grosso speaks to Rebecca Green, a professor at William and 721 00:39:50,000 --> 00:39:53,240 Speaker 1: Mary Law School. Rebecca explained this decision by the panel 722 00:39:53,280 --> 00:39:57,399 Speaker 1: of judges. The case comes up under the Voting Rights 723 00:39:57,440 --> 00:40:00,360 Speaker 1: Act and called Section two, which is to line to 724 00:40:00,600 --> 00:40:03,800 Speaker 1: ensure that minorities have the ability to elect their candidates 725 00:40:03,800 --> 00:40:06,880 Speaker 1: of choice, or put a different way, that state rules 726 00:40:07,080 --> 00:40:10,400 Speaker 1: and laws don't sign me the ability of minorities to 727 00:40:10,440 --> 00:40:13,040 Speaker 1: elect their candidate of choice. One way that states have 728 00:40:13,160 --> 00:40:16,000 Speaker 1: done this historically is by the way they draw their 729 00:40:16,080 --> 00:40:19,120 Speaker 1: lines and the residuting process. And so what they can 730 00:40:19,200 --> 00:40:23,560 Speaker 1: do is they can pack minority voters into a single district, 731 00:40:23,760 --> 00:40:27,000 Speaker 1: thereby take their voting power away and in surrounding districts, 732 00:40:27,280 --> 00:40:30,520 Speaker 1: or if there are concentrations of minority voters that would 733 00:40:30,560 --> 00:40:33,399 Speaker 1: be able to elect their candidate choice. The line drawer 734 00:40:33,480 --> 00:40:35,320 Speaker 1: could draw a line like in the middle of that 735 00:40:35,480 --> 00:40:38,840 Speaker 1: concentration of minority voters in order to diffuse or dilute 736 00:40:38,840 --> 00:40:42,359 Speaker 1: their ability to elect their connective choice. So, redistricting has 737 00:40:42,440 --> 00:40:45,240 Speaker 1: been a vehicle that states have used in the past 738 00:40:45,480 --> 00:40:49,640 Speaker 1: to harm minority political strengths. And if you look at 739 00:40:49,760 --> 00:40:53,120 Speaker 1: the US congressional map in Alabama that Plantiffs challenged under 740 00:40:53,200 --> 00:40:56,719 Speaker 1: Section too, they did exactly what I just described, at 741 00:40:56,800 --> 00:40:59,879 Speaker 1: least that's the allegation that they packed minority voters into 742 00:40:59,880 --> 00:41:02,040 Speaker 1: a single district in one part of the state, and 743 00:41:02,480 --> 00:41:04,640 Speaker 1: across the way on the right hand side of the state, 744 00:41:04,760 --> 00:41:08,200 Speaker 1: they cut a line down a concentration of minority voters, 745 00:41:08,520 --> 00:41:11,520 Speaker 1: and the allegation is that violates voting rights ac Section 746 00:41:11,560 --> 00:41:15,920 Speaker 1: to how much will a decision by the Supreme Court 747 00:41:16,480 --> 00:41:20,080 Speaker 1: enlighten us about how it's going to look at other 748 00:41:20,280 --> 00:41:24,719 Speaker 1: similar challenges And we're expecting other similar challenges, aren't we 749 00:41:25,000 --> 00:41:27,560 Speaker 1: in the run up to the next election. Yeah, there's 750 00:41:27,600 --> 00:41:30,440 Speaker 1: been a couple of instances where states are kind of 751 00:41:30,680 --> 00:41:34,120 Speaker 1: being very assertive about wanting to draw lines from a 752 00:41:34,160 --> 00:41:38,040 Speaker 1: color blind perspective and I think what's happening there is 753 00:41:38,440 --> 00:41:42,480 Speaker 1: they are wondering whether there are a majority of defices 754 00:41:42,560 --> 00:41:44,520 Speaker 1: on the Court who would be open to the idea 755 00:41:44,840 --> 00:41:48,880 Speaker 1: that using race in redistricting violates the Constitution, And so 756 00:41:49,280 --> 00:41:51,879 Speaker 1: I wonder whether they're sort of taking this path because 757 00:41:51,920 --> 00:41:54,120 Speaker 1: they want to test that out. And that's William and 758 00:41:54,160 --> 00:41:58,000 Speaker 1: Mary Law professor Rebecca Green speaking at the Bloomberg Student Grosso. 759 00:41:58,200 --> 00:42:01,320 Speaker 1: Catch more of that interview US analysis of the latest 760 00:42:01,400 --> 00:42:04,840 Speaker 1: legal news by subscribing to the Bloomberg Law Podcast or 761 00:42:04,920 --> 00:42:09,120 Speaker 1: downloading this show at Bloomberg dot com Slash podcast. Attorneys 762 00:42:09,160 --> 00:42:12,480 Speaker 1: can find exceptional legal research and business development tools at 763 00:42:12,520 --> 00:42:15,880 Speaker 1: Bloomberg Law dot com and on the Bloomberg terminal at 764 00:42:15,960 --> 00:42:20,000 Speaker 1: b law go. SMP futures down ten points this morning. 765 00:42:20,120 --> 00:42:23,399 Speaker 1: Down Future is down one six and NASDAG futures down 766 00:42:23,480 --> 00:42:27,120 Speaker 1: twenty five. Ten year treasury down to thirties seconds yield 767 00:42:27,200 --> 00:42:30,320 Speaker 1: one point nine one percent and the yield on the 768 00:42:30,400 --> 00:42:33,560 Speaker 1: two year one point three zero percent. Nime X screwed 769 00:42:33,600 --> 00:42:37,640 Speaker 1: oils down one point to per cent and still ahead. 770 00:42:37,800 --> 00:42:41,960 Speaker 1: On Bloomberg Daybreak, check on the business headlines and all 771 00:42:42,040 --> 00:42:45,000 Speaker 1: the news you need to start your day. And this 772 00:42:45,680 --> 00:42:46,360 Speaker 1: is Bloomberg