Speaker 1: Live from the Bloomberg Interactive Broker Studios. This is Bloomberg
Speaker 1: day Break for Friday two. Coming up this hour. Stocks
Speaker 1: are on track for their first weekly gain in two months.
Speaker 1: City Grove downgrades US equities on the risk of our session.
Speaker 1: The US and Taiwan plant talks to increase economic ties,
Speaker 1: and Texas Governor Greg Abbott will reportedly not address the
Speaker 1: n r a's meeting in person. Today. Triples s people
Speaker 1: will pack the roads for the long Memorial Day weekend.
Speaker 1: Plus the w h JOE confirmed nine cases of monkeypox
Speaker 1: in the U S. I'm Michael barr more A and
Speaker 1: Alice got Edinburg and Yankees win in the Rangers face elimination.
Speaker 1: I'll have that more coming up in sports. That's all's
Speaker 1: training ahead on Bloomberg day Break on Bloomberg eleven, Free
Speaker 1: on New York, Bloomberg one, Washington, d C, Bloomberg one
Speaker 1: oh six one, Boston, Bloomberg nine sixties, San Francisco, Sirius
Speaker 1: x M one nineteen and around the world Bloomberg Radio
Speaker 1: dot Com and via the Bloomberg Business. Good Friday Morning,
Speaker 1: I'm Nathan Hacker and I'm Karen Moscow and US Dock
Speaker 1: Index futures are on the rise this morning. We're coming
Speaker 1: up to five oh one on Wall Street, and we
Speaker 1: check the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg. Right now, SNP futures are up about twelve
Speaker 1: points down Future is up thirty eight. Nastag Future is
Speaker 1: up fifty one ten. Your treasury down one thirty second.
Speaker 1: The yield two point seven five percent. That yield on
Speaker 1: the two year two point four seven percent. Nin Max
Speaker 1: Screwed Oil is up three ten percent or thirty three
Speaker 1: cents at a hundred fourteen dollars forty two cents of barrel.
Speaker 1: Comex's Gold is up a third of per cent, or
Speaker 1: six dollars ninety cents at eighteen sixty eight announced and Nathan,
Speaker 1: all right, Karen, thank you well. The SNP five hundred
Speaker 1: this morning is on track for its first weekly gain
Speaker 1: in nearly two months. The index rose two percent yesterday.
Speaker 1: It's biggest game there in ten days. Max Wasserman is
Speaker 1: founder and senior portfolio manager at Miramark Capital. I'm optimists
Speaker 1: sticking a long term. It doesn't mean you could get
Speaker 1: it more downside, and we could see another five to
Speaker 1: seven percent on the downside, but we think we're through
Speaker 1: the majority of the problem. And it's been a bad market.
Speaker 1: I mean, the nazeck was down and the SMP was
Speaker 1: close to down twenty. It could still go further, but
Speaker 1: we're not We're not bailing on this market. My mere
Speaker 1: Mark Capitals. Max Watsman made those comments on Bloomberg Business Week.
Speaker 1: You can catch the program weekdays from two to five
Speaker 1: pm Wall Street Time right here on Bloomberg Radio. Meantime,
Speaker 1: Nathan City Group is getting more bearish on stocks, and
Speaker 1: we get the details live from Bloomberg's redit a Young
Speaker 1: good Morning, Ready to good morning, Karen's City Group cut
Speaker 1: its recommendation on US stocks to neutral on the risk
Speaker 1: of a recession. Strategist there joining an increasing number of
Speaker 1: banks and warning of a growth slow down. They stay
Speaker 1: with this high level of uncertainty and the lack of
Speaker 1: reassurance from the Federal Reserve. The market is showing elements
Speaker 1: of a deflating bubble, but opinion on US equities remains divided.
Speaker 1: Some Wall Street analysts are betting on a rebound. They
Speaker 1: believe that the odds of a recession are overstated. Live
Speaker 1: in New York, I'm Reneda Young, Bloomberg Daybreak, Renina, thank you.
Speaker 1: A solid retail elearnings help sentiment yesterday. Today, retail results
Speaker 1: are not helping. GAP shares are down sixteen percent after
Speaker 1: that company's first quarter profit missed estimates. We get that
Speaker 1: story from Bloomberg's Charlie Pellet. It shows that operational missteps
Speaker 1: and higher costs are hurting the apparel retailer. The company,
Speaker 1: which also owns the Banana Republic and Old Navy brands,
Speaker 1: posted a loss of forty four cents of share in
Speaker 1: the quater ending April, below analysts average estimates. Foliar earnings
Speaker 1: are now seen at between forty and seventy cents a share,
Speaker 1: well below the dollar eighty five to two oh five
Speaker 1: range previously provided In New York. Charlie Pellet, Bloomberg day Break,
Speaker 1: A right, Charlie, thank you. All US futures are still
Speaker 1: higher despite those results from Gap, and sentiment was also
Speaker 1: strong overnight in Asia after solid earnings from Chinese tech companies.
Speaker 1: We get the recap from Bloomberg's LEAs Sally and Singapore.
Speaker 1: Good morning, Juliet, Good morning Karen. The Regional Benchmark Index
Speaker 1: posted its best gain in a week, rising for the
Speaker 1: first time in four sessions to set itself up for
Speaker 1: a second weekly advance. Ali Baba and Baidu Shares rallied
Speaker 1: in Hong Kong, lifting the Hang San Tech Index after
Speaker 1: both beat sales forecast. Japanese equities also rose as the
Speaker 1: nation announced it would reopen to select tours on package
Speaker 1: tools from June ten, and Australian retailers recorded a fourth
Speaker 1: consecutive months of sales gains, highlighting underlying momentum in the
Speaker 1: economy and a degree of resilience among consumers. In Singapore
Speaker 1: Juliet Sally Bloomberg, debreak Okay, Juliet, thank you. In Shanghai,
Speaker 1: we're seeing more signs of the extreme steps being taken
Speaker 1: to keep factories running during a COVID lockdown. Workers at
Speaker 1: an Apple supplier, Quanta Computer, have started revolting against their
Speaker 1: bosses after they were locked down in their factory for
Speaker 1: almost two months. They've been fighting with guards and rushing
Speaker 1: past isolation barriers in search of daily necessities. The current
Speaker 1: system forces workers to live and sleep on factory sites,
Speaker 1: and now Nathan China is coming under even more pressure
Speaker 1: from the White House. As Bloomberg said, Baunster reports, Secretary
Speaker 1: of State Anthony B. Lincoln is vowing to influence China's
Speaker 1: behavior by shaping the world around Beijing. B Lincoln says
Speaker 1: this is a charged moment for the globe and says, well,
Speaker 1: he would like to work with China. Beijing cannot be
Speaker 1: trust as stand ready to increase our direct communication with
Speaker 1: Beijing across a full range of issues, and we hope
Speaker 1: that that can happen, but we cannot rely on Beijing
Speaker 1: to change its trajectory. Blincoln says, alliances like the Quad this.
Speaker 1: At the same time, the US and Taiwan have announced
Speaker 1: plans to enter into economic talks enhancing economic cooperation and
Speaker 1: supply chain resiliency. Ian San Francisco, I'm at Baxter Bloomberg daybreak,
Speaker 1: All right, ed, thank you. Meantime, the war in Ukraine
Speaker 1: rages on, and now the US is rejecting a food
Speaker 1: for sanctions relief plan floated by Russian President Vladimir Putin.
Speaker 1: The proposal would facilitate fertilizer and grain exports, but only
Speaker 1: if sanctions on Russia are lifted. The US says, the
Speaker 1: Kremlin's blocking the shipments and stoking concerns of a global
Speaker 1: food shortage, and we turn Closer to home Now Nathan
Speaker 1: with the latest on the school shooting in Yuvaldi, Texas.
Speaker 1: The National Rifle Association is holding its annual convention in
Speaker 1: Houston today, but Texas Governor Greg Abbott won't be there.
Speaker 1: The Dallas Morning News says he's drawn plans to address
Speaker 1: the event in person to give a prerecorded speech instead. Meantime,
Speaker 1: Senate Democrats say there's room for compromise on gun control legislation.
Speaker 1: We spoke with Maryland Democrat Ben Kurten. What I'd like
Speaker 1: to see don is certainly closed. The loopholes in the
Speaker 1: background check red flags are consistent with that. We need
Speaker 1: to deal with the military style UH and high capacity
Speaker 1: UH magazines that are out there that are the weapon
Speaker 1: choice for those who want to commit mass murders. Senator
Speaker 1: Ben Carter of Maryland spoke with our Washington correspondent Joe
Speaker 1: Matthew on Bloomberg Sound on Catch the show weekdays at
Speaker 1: five pm Eastern on Bloomberg Radio, And in the interest
Speaker 1: of transparent see we should note that Michael Bloomberg, the
Speaker 1: founder and majority owner of Bloomberg Help, the parent of
Speaker 1: Bloomberg Radio, is a donor to groups that support gun control.
Speaker 1: All right, Karen, right now, S and P futures are
Speaker 1: up seven point Stout futures up twelve, Nastack futures up
Speaker 1: thirty five. Straight ahead, your latest local headlines and the
Speaker 1: check of sports. This is Bloomberg. It's now five oh
Speaker 1: seven on Wall Street. We're sixty four degrees in Central
Speaker 1: Park dealing with major problems on routes seventy eight this morning.
Speaker 1: We'll get to the details on that traffic shortly. First,
Speaker 1: Michael Bars here with more on what's going on in
Speaker 1: New York and around the world on this Friday morning. Michael,
Speaker 1: Good morning, Nathan, and if you're traveling this Memorial Day weekend,
Speaker 1: get ready for busy airports and roads. Despite the rising
Speaker 1: costs of gas and airfare. The Triple As has more
Speaker 1: than thirty nine million people will travel fifty miles or
Speaker 1: more during the holiday weekend. Triple A spokesman Andrew Gross
Speaker 1: says the majority of them will be hitting the roads
Speaker 1: despite these record I guess line crisis. We are expecting,
Speaker 1: based on what we're seeing Memorial Day, that it's going
Speaker 1: to be a variable bust travel period for summer. People
Speaker 1: just want to get out and go A gallon of
Speaker 1: regular now tops four dollars in all fifty states. New
Speaker 1: York City will bid to host the Democratic National Convention
Speaker 1: in Madison Square Garden in four. Mayor Eric Adams says
Speaker 1: this is a team New York moment. This is not
Speaker 1: about Democratic Republican It's about how do we bring resources
Speaker 1: to our city. The last time New York City hosts
Speaker 1: at the Democratic Convention was when former President Bill Clinton
Speaker 1: was nominated. Federal health officials say there are now nine
Speaker 1: presumptive cases of monkeypox in the US, including one in
Speaker 1: New York City. The city's Department of Health and Mental
Speaker 1: Hygiene said that officials will be treating this as a
Speaker 1: probable case and will continue its contact tracing efforts globally.
Speaker 1: The WHO says it has confirmed about two monkeypox cases.
Speaker 1: The WHOS Dr Maria van Kirkhov is addressing misinformation about
Speaker 1: the spread of the virus. She notes that it can
Speaker 1: be spread through sexual contact, but it is not an
Speaker 1: STD and although it is not a new virus, it's
Speaker 1: now popping up in countries where it doesn't usually spread.
Speaker 1: We are asking countries to expand surveillance so that we
Speaker 1: are looking for cases of monkey pops um cases of
Speaker 1: rash um, particularly in people who present at sexual health
Speaker 1: clinics or emergency departments. Dr Maria van Kirkhov answered questions
Speaker 1: on the whose Facebook page. At California Parole Panel has
Speaker 1: recommended the release of Charles Manson follower Patricia Krenwinkle she
Speaker 1: rolled Helter Skelter on a Wall to using the blood
Speaker 1: of one of their victims, including actor Sharon Tate. In
Speaker 1: nineteen sixty nine, Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quick Take, powered by more
Speaker 1: than twenty seven hundred journalists and analysts and more than
Speaker 1: a hundred twenty countries. Michael bar this is Bloomberg, Nathan, Michael,
Speaker 1: thank you almost five ten on Wall straight time for
Speaker 1: the Bloomberg Sports up dat. Here Scott Seideberg, Banks, Nathan Nesty,
Speaker 1: Nestor lives up to his name. Nestor Cortes through eight
Speaker 1: innings of one run balls, the Yankees beat the race
Speaker 1: seven too. At the Trump Courts has allowed just four hits,
Speaker 1: retiring fourteen straight. At one point here was Aaron Boone.
Speaker 1: I think how efficient he got, you know, I had
Speaker 1: to work a little bit in a first inning, and
Speaker 1: then he just dialed in from from a command standpoint
Speaker 1: and kind of cruise there, uh for much of the game. Um,
Speaker 1: but I thought he was really sharp. Prior to the game,
Speaker 1: the Yankees signing former Cardinals All star Mett Carpenter. He
Speaker 1: went over two with the walk as the designated hitter.
Speaker 1: The Mets were off last night. They begin to set
Speaker 1: with the Phillies tonight at City Field. The Rangers are
Speaker 1: on the brink of elimination after falling to Carolina three
Speaker 1: one last night. Game six at the Garden tomorrow or
Speaker 1: nights elsewhere. The Oilers onto the Western Conference Finals after
Speaker 1: beating the Flames five four in overtime. NBA allowed flight.
Speaker 1: The Warriors beat the Mavericks to earn a trip back
Speaker 1: to the NBA Finals for the sixth time in the
Speaker 1: last eight seasons. Tonight, the Celtics look to close out
Speaker 1: the heat in the Eastern Conference Finals. Tennis at the
Speaker 1: French Open, make it thirty straight for Egles the Optic,
Speaker 1: The world's number one, defeated Allison Risk to extend the
Speaker 1: longest winning streak in women's tennis in Serena won thirty
Speaker 1: four matches in a row back in twenty I'm Scott
Speaker 1: Edinburg with Bloomberg Sports. Nathan all Right, Scott, Thanks, Let's
Speaker 1: take a look at this market this morning. We have
Speaker 1: futures moving higher, with the SMP points for its first
Speaker 1: weekly gain in what seven weeks now. SMP futures right
Speaker 1: now up almost seven points. DAL futures up six. Dance
Speaker 1: Deck futures are higher by thirty three points. The tenure
Speaker 1: treasury right now is down to thirty seconds, with the
Speaker 1: yield two point seven five percent yield on the two
Speaker 1: year two point four seven Nimex cruds up to three
Speaker 1: tenths of percent, or thirty two cents at a hundred
Speaker 1: fourteen dollars forty one cents to barrel. And it's afternoon,
Speaker 1: a high near eighty degrees. More storms possible tomorrow with
Speaker 1: a high near eighty upper seventies, sunshine Sunday right now
Speaker 1: sixty four degrees. Markets, headlines and breaking news twenty four
Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business
Speaker 1: at and at Bloomberg Quick Tape. He's a Bloomberg Business Flash,
Speaker 1: and I'm far at Moscow and European shares are higher.
Speaker 1: U S Dock indise futures are rising as well. They're
Speaker 1: all following Asian shares higher, heading for the best weekly
Speaker 1: advanced since mid March. It's scorning to European stocks anyway.
Speaker 1: The dollar is dropping. We checked the markets every fifteen
Speaker 1: minutes throughout the trading day. On bloomberg S and P
Speaker 1: Future is up seven points this morning. Down Future is
Speaker 1: up nine and nasday Future is up thirty two. The
Speaker 1: decks in Germany is up half percent ten. Your treasury
Speaker 1: down one thirty second. You have two point seven five percent.
Speaker 1: They yield on the two year two point four six
Speaker 1: percent now. iMX scret oil is up six tents percent
Speaker 1: or sixty eight cents at a hundred fourteen dollar seventy
Speaker 1: seven cents of barrel. Comic School is up half percent
Speaker 1: or eight dollars ninety cents in eighteen sixty two eighty
Speaker 1: announce the euro one point oh seven to eight against
Speaker 1: the dollar, British pound one point to six one three
Speaker 1: and again one twenty seven point oh three Bitcoin this
Speaker 1: morning moving lower, down one point seven percent at twenty
Speaker 1: eight thousand, nine hundred dollars. Today we are watching for
Speaker 1: reports on personal income and spending out at eight thirty
Speaker 1: Wall Street time, along with wholesale inventories and consumer sentiment
Speaker 1: is out at ten. That's a Bloomberg business Flash. Now
Speaker 1: here's Michael Barr with more on what's going on around
Speaker 1: the world. Muchael, Good morning, Good morning Karen. Texas Governor
Speaker 1: Greg Abbott reportedly dropped plans to address the National Rifle
Speaker 1: Association's annual meeting in person just days after the school
Speaker 1: shooting in Uvaldi that left twenty one people dead. According
Speaker 1: to the Dallas Morning News, Abbots scheduled to speak of
Speaker 1: the n A gathering in Houston starting today. The US
Speaker 1: rejected a plan by Russian President of Vladimir Putin to
Speaker 1: facilitate grain and fertilizer exports only if sanctions on his
Speaker 1: country are lifted. The US pins the blame on the
Speaker 1: Kremlin for blocking shipments and stoking concerns of global food shortages.
Speaker 1: In the NHL Playoffs, the Rangers are on the brink
Speaker 1: of elimination. New York lost to the Hurricanes three one
Speaker 1: in Game five. In the NBA Playoffs, the Warriors are
Speaker 1: in the finals. They won the West, beating the Mavericks.
Speaker 1: Global News twenty four hours a day on here and
Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven
Speaker 1: hundred journalists and analysts more than a hundred twenty countries.
Speaker 1: Michael Barron, this is Bloomberg, Nathan. All right, Michael, thanks
Speaker 1: for coming up to five twenty on Wall Street Live
Speaker 1: from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak.
Speaker 1: Let's turn out to another major story, a potential new
Speaker 1: challenge to China coming from the United States. Sources tell
Speaker 1: Bloomberg News the Biden administration and is planning economic talks
Speaker 1: with Taiwan. That's after the island was left out of
Speaker 1: the thirteen nation framework that President Biden announced in Tokyo
Speaker 1: earlier this week. From all of this, we're joined live
Speaker 1: from Hong Kong by Bloomberg Is Chief Asia Economics correspondent
Speaker 1: and the Current and they're good to have you with
Speaker 1: us this morning. What do we know about these talks?
Speaker 1: What do we expect them to entail? These folks are
Speaker 1: meant to be announced overcoming weeks, Nathan. The center of
Speaker 1: them seems to be all about working on areas such
Speaker 1: as trade facilitation and supply chains, improving trade in the
Speaker 1: agricultural products products under like. Some of those areas are
Speaker 1: quite similar to the pillars in that new Indo Pacific
Speaker 1: Economic Framework that you mentioned that was announced this week
Speaker 1: by President Biden in Tokyo. The framework, of course doesn't
Speaker 1: yet include Taiwan, so it might be part of the
Speaker 1: process of inching Taiwan closure towards involvement in that Nonetheless,
Speaker 1: though it's suggesting closer economic relations between YUST and Taiwan.
Speaker 1: But the details we have so far for our colleagues,
Speaker 1: Jenny learn out, the DC doesn't yet suggest it's getting
Speaker 1: towards a you know, an outright free trade deal per se. Well,
Speaker 1: that is something that Taiwan has been pressing for for
Speaker 1: some time, a free trade agreement with the United States.
Speaker 1: Have we gotten any reaction from China to this report?
Speaker 1: How would China likely react to this? Well, look, I
Speaker 1: think the Chinese response is all is consistent and fairly predictable.
Speaker 1: Predictable when it comes to this, when Nathan, they will
Speaker 1: all us pushed back against what they considered to be
Speaker 1: interference in its own affairs. We can serve We certainly
Speaker 1: know that in the past, for example, when the US
Speaker 1: has commed it on Taiwan, it has been met with
Speaker 1: a fairly fairly steering rebuke from the Chinese side. But
Speaker 1: nonetheless the U S I just seemed to be keen
Speaker 1: to push for close relations with Taiwan, but at the
Speaker 1: same time in sexual state such as say Lincoln's speech yesterday,
Speaker 1: as you know, he did mention the fact that overall
Speaker 1: US policy for the Taiwan hasn't changed. They don't support
Speaker 1: time and He's independence for example. So clearly the US
Speaker 1: is willing to push the boats to a certain extent
Speaker 1: in terms of US Taiwan economic relations. But you know,
Speaker 1: despite President Biden's comments, as they're also making it clear
Speaker 1: that the overall US Taiwan framework hasn't changed. Does China
Speaker 1: agree with that that the U s policy regarding Taiwan
Speaker 1: has not changed. Well, they're always quite you know, kind
Speaker 1: of aggressive in their response names and they're always quite
Speaker 1: embrasive when there's any commentry on Taiwan. They you know,
Speaker 1: they want to make sure, they want to make clear
Speaker 1: of the red line for China from their perspective of course.
Speaker 1: Um So that's why I think we've seen such a
Speaker 1: ratcheting up of tensions between China and the US in
Speaker 1: recent years in the rush of rhetoric, because even when
Speaker 1: basic policy stabents are really iterated again, they're met by
Speaker 1: a volley of you know, rebuttaled by by either side,
Speaker 1: especially quite barbed on on the Chinese side of when
Speaker 1: it comes to the course the whole role of Wolf Wolf,
Speaker 1: the films in the like. But I think when you
Speaker 1: take it all together, though, you see the U S
Speaker 1: engine towards closer economical relations with Taiwan. You look at
Speaker 1: that overall speech wide secutives, say b Lincoln yesterday outlining
Speaker 1: the you know, in very blunt terms, just where US
Speaker 1: China relations are. I think it goes to show you
Speaker 1: that it's both both sides and are in a very
Speaker 1: competitive state at the very least, if not edging towards
Speaker 1: something even more serious. And then does this have implications
Speaker 1: and for the US China trade relationship. Of course, we're
Speaker 1: in the middle of a Phase one trade deal with China,
Speaker 1: and President Biden is considering making moves on the tariffs
Speaker 1: that have been imposed on China. As we deal with
Speaker 1: this you know, four decade high inflation that we're dealing
Speaker 1: with in the United States right now, it's a big question.
Speaker 1: I mean, both Treasure Checktory Ellen and of course other
Speaker 1: U S officials have made the point that they might
Speaker 1: consider they are considering bringing down TOWERFFS in certain Chinese goods,
Speaker 1: but that would probably be about trying to alleviate the
Speaker 1: US inflation more than resetting on the US relations. I mean,
Speaker 1: that would not be a game changer for the Chinese
Speaker 1: side either. They might welcome it on the margins. But
Speaker 1: when you consider that the US is also report to
Speaker 1: be reported to be considering sanctions, ongoing sanctions, sanctions against
Speaker 1: key Chinese companies for example, When of course you consider
Speaker 1: that you know, the US pushing for closure economic relations
Speaker 1: with time one, none of it suggests that any kind
Speaker 1: of easy enough turf story will be will trigger a
Speaker 1: reset in works on the U S relations. Right And
Speaker 1: you know, even though sector said Lincoln did say in
Speaker 1: his speech, center is room for corporational areas such as
Speaker 1: climate change in North Korea, and they like I think,
Speaker 1: the trajectory of US generations, or at least when it
Speaker 1: comes to competition between both, is set and that's not
Speaker 1: expected to change any time soon. Always going to have
Speaker 1: you with US. Sender, thanks for this and the current
Speaker 1: chief Asia economics correspondent for Bloomberg News. Right now it
Speaker 1: would be future is up, seven points down. Future is
Speaker 1: up eighteen nansect future is highed by thirty seven points
Speaker 1: and the tenure treasury down one thirty second the yield
Speaker 1: two point seven. This is Bloomberg Bloomberg eleven three oh Weather.
Speaker 1: Showers and storms possible this afternoon and tomorrow afternoon as well,
Speaker 1: with highs in the upper seventies both days. Sunshine returns
Speaker 1: Sunday with a high near eighty Right now sixty four
Speaker 1: in Central Park. Broadcasting live from the Bloomberg Interactive Broker
Speaker 1: Studio in New York. Bloomberg e Living Free to Washington,
Speaker 1: d C. Bloomberg to Boston, Bloomberg one six one does
Speaker 1: San Francisco, Bloomberg nine sixty to the Country, Sirius XM
Speaker 1: to the one ninete and around the globe the Bloomberg
Speaker 1: Business app and Bloomberg Radio dot Com. This is Bloomberg Daybreak.
Speaker 1: It's five thirty on Wall Street, corning up Nathan Hagar
Speaker 1: and I'm Karen Moscow and we're just about four hours
Speaker 1: away from the open of US trading. Let's catch you
Speaker 1: up to date in the news you need to know
Speaker 1: at this hour US in next futures are rising as
Speaker 1: we close out a training week that has the s
Speaker 1: and P five hundred on track for its first weekly
Speaker 1: gain and two months. However, one Wall Street firm sees
Speaker 1: more pain ahead for investors, and we get the latest
Speaker 1: lie from Bloomberg's gonna need a young Good morning, Renny, Now,
Speaker 1: good morning. Karen's City Group cut its recommendation on US
Speaker 1: stocks to neutral on the risk of a recession. Strategist
Speaker 1: there joining an increasing number of banks and warning of
Speaker 1: a growth slowdown. They say, with this high level of
Speaker 1: uncertainty and a lack of reassurance from the Federal Reserve,
Speaker 1: the market is showing elements of a deflating bubble. But
Speaker 1: opinion on US equities remains divided. Some Wall Street animalsts
Speaker 1: are betting on a rebound. They believe that the odds
Speaker 1: of a recession are overstated. Live in New York. I'm
Speaker 1: gonna need a young Bloomberg day break, all right, Ready
Speaker 1: to thank you all. Retail earnings helped boost sentiment yesterday.
Speaker 1: This morning, it's a different story. Shares of Gap are
Speaker 1: down seventeen percent in early training. That retailer lowered its
Speaker 1: full year forecast after posting profit that missed estimates. Politics
Speaker 1: alls so and focus this morning. Nathan with the latest
Speaker 1: US challenged at China. The Biden administration in Taiwan are
Speaker 1: announcing negotiations to increase economic ties. Talks would focus on
Speaker 1: enhancing economic cooperation and supply chain resiliency, but falls short
Speaker 1: of a free trade agreement. Beijing has were in Washington
Speaker 1: about its relationship with Taiwan and Karen. Texas Governor Greg
Speaker 1: Gabbott has dropped his plans to attend today's National Rifle
Speaker 1: Association convention. The Dallas Morning News reports he'll give a
Speaker 1: pre recorded speech instead while he visits the school in
Speaker 1: Uvaldi where nineteen children and two adults were killed this week.
Speaker 1: Houston Mayor Sylvester Turner is rejecting calls to cancel the convention.
Speaker 1: We just don't have that luxury of that option, just
Speaker 1: to cancel a convention that has been on the books
Speaker 1: for two years UH where we are contractually obligated. Houston
Speaker 1: Mayor Sylvester Turner says the n r A could delay
Speaker 1: the convention if it wanted to, but he doesn't think
Speaker 1: it's gonna happen. In the interest of transparency, we should
Speaker 1: note that Michael Bloomberg, the founder and majority owner of
Speaker 1: Bloomberg LP, the parent of Bloomberg Great is a donor
Speaker 1: to groups that support gun control and futures this morning
Speaker 1: are on the rise, Nathan SNP Future is up ten
Speaker 1: points now Future is up thirty one nastagg futures up
Speaker 1: forty four. Ten year Treasury down one thirty second yield
Speaker 1: two point seven five percent, and they yield on the
Speaker 1: two year two point four seven percent. Nine x Screwed
Speaker 1: oil is up six tents per cent or sixty six
Speaker 1: cents at a hundred fourteen dollars seventy five cents a barrel,
Speaker 1: and Bitcoin this morning lower down one and a half
Speaker 1: percent at twenty eight thousand and nine hundred dollars. Trying
Speaker 1: to hand your latest local headlines plus a check of sports.
Speaker 1: This is Bloomberg. Thanks Scared. It's five thirty three on
Speaker 1: Wall Street. We're sixty five degrees in Central Park and
Speaker 1: dealing with a couple of big issues on Roots seventy eight.
Speaker 1: We'll get the details for you in traffic in just
Speaker 1: a few minutes. Michael barrs here first though, with Warre
Speaker 1: on what's going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. In spite of high
Speaker 1: inflation and surgeon gas prices. Triple axpects millions of Americans
Speaker 1: will travel this Memorial A weekend. Spokesman Andrew Gross says
Speaker 1: Triple A estimates thirty nine point two million people in
Speaker 1: the US will travel fifty miles or more from home
Speaker 1: during the holiday weekend. Of that percent are expected to
Speaker 1: go by car. We've never had a Memorial Day travel
Speaker 1: period where so many people are going to go in
Speaker 1: by car at the same time you have these high
Speaker 1: gas prices. Triple A spokesman Gross says, people just want
Speaker 1: to get out and go. New York City will bid
Speaker 1: to host the Democratic National Convention at Madison Square Garden
Speaker 1: in four Mayor Eric Adams says this is a Team
Speaker 1: New York moment, not Democratic Republican. The last time New
Speaker 1: York City hosted the Democratic Convention was when former President
Speaker 1: Bill Clinton was nominated. Federal health officials say there are
Speaker 1: now nine confirmed cases of monkey pox in the US,
Speaker 1: including one presumptive case in New York City. Globally, the
Speaker 1: WHO says it as confirmed about two hundred monkey pox cases.
Speaker 1: The WHO, Dr Maria Vankerhove, is addressing misinformation about the
Speaker 1: spread of the virus. This is not a sexually transmitted
Speaker 1: infection UM. We do know that monkey pocks does transmit
Speaker 1: primarily from physical contact skin to skin contact UM, and
Speaker 1: that includes sexual contact. Dr Maria Vankerhove answered questions on
Speaker 1: the whose Facebook page. Expect more baby formula to be
Speaker 1: flown into the US to ease the shortage problem. The
Speaker 1: White House says more Operation Fly formulashipments should arrive, but
Speaker 1: did not disclose when that will be. Tributes continue to
Speaker 1: come in for actor ray Leota, who died yesterday. Director
Speaker 1: Martin Scorsese says he is shocked and devastated. Leota was
Speaker 1: in big movies including Good Fellas and Field of Dreams.
Speaker 1: Ray Leota was sixty seven Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quicktake, powered by
Speaker 1: more than hundred journalists and analysts and more than a
Speaker 1: hundred twenty countries. Michael Barr, this is Bloomberg, Nathan. Alright, Michael,
Speaker 1: thanks on Wall Street. Time for the Blomberg Sports Update
Speaker 1: with Scott Seidenberg. Good morning, Nathan. The Rangers are on
Speaker 1: the brink of elimination after falling to Carolina three one
Speaker 1: last night. The Hurricanes dominated for the majority of the game,
Speaker 1: according to Gerard Glance, well, I didn't think we played
Speaker 1: a game at all. I thought we were reaching with
Speaker 1: sticks all night instead of finishing checks for the body
Speaker 1: like we did the other nights. Obviously to meet it
Speaker 1: was the worst game in the five games Finals series,
Speaker 1: Game six at the Garden Tomorrow night. Elsewhere, the Oilers
Speaker 1: onto the Western Conference Finals after beating the Flames five
Speaker 1: four in overtime. Baseball Messer Cortez through eight innings of
Speaker 1: one run balls. The Yankees beat the Raise seven to
Speaker 1: two at the trop Prior to the game, the Yankees
Speaker 1: signing former Cardinals All star Matt Carpenter. He went over
Speaker 1: two with a walk as the designated hitter. The Mets
Speaker 1: were off last night. They begin to set with the
Speaker 1: Phillies tonight at City Field, NBA. Last night, the Warriors
Speaker 1: beat the Mavericks to earn a trip back to the
Speaker 1: NBA Finals for the six time in the last eight seasons. Tonight,
Speaker 1: the Celtics looked close out the Heat in the Eastern
Speaker 1: Conference Finals. Tennis at the French Open, make it thirty
Speaker 1: straight for Ego Skiatec, The world's number one defeated Allison
Speaker 1: Risk to extend the longest winning streak in women's tennis
Speaker 1: since Serena won thirty four matches in a row back
Speaker 1: in twent thirteen. I'm Scott Siveinberg with Bloomberg Sports. Nathan Okay. Scott,
Speaker 1: thanks for coming up to five thirty seven on Wall
Speaker 1: Street Time for the Tri State Business Report. Here's Bloomberg's
Speaker 1: dead cory. A big tax break for developers is likely
Speaker 1: to go away. The subsidy, known as four one A,
Speaker 1: has been using about every big residential project over its
Speaker 1: fifty one year history. The Time says New York State
Speaker 1: lawmakers are unlikely to renew it. Critics say it has
Speaker 1: amounted to a tax giveaway for developers. Officials have revealed
Speaker 1: and alleged retail theft operation. They say it involved an
Speaker 1: elaborate scheme to shop lived luxury goods from Bloomingdale's Sofa
Speaker 1: and other New York City retail outlets and resell them
Speaker 1: on Amazon and eBay. Charges have been brought against forty
Speaker 1: one people. You have to wait a little longer for
Speaker 1: a revival in the theme park segment of the junk
Speaker 1: municipal bond market. The owner of the Showboat Hotel in
Speaker 1: Atlantic City is taking out a conventional loan to build
Speaker 1: a water park there. The park was supposed to be
Speaker 1: financed originally with an unrated nine million dollar revenue bomb
Speaker 1: and you, Bloomberg try State Business Report. I'm ind Corey.
Speaker 1: Thanks Ed. We're coming up to five thirty eight on
Speaker 1: Wall Street. Now. Bloomberg Radio is on the air from
Speaker 1: San Francisco to New York, London to Hong Kong. Let's
Speaker 1: check in with our global news team for some of
Speaker 1: the top stories heard on our three hundred affiliate radio
Speaker 1: stations around the world. I'm Steve Polaskan Chen Chen Wins
Speaker 1: in New York. We're talking about a bounce in PC
Speaker 1: demand as more people head back to the office. On
Speaker 1: ktr H in Houston, oil is heading for a fifth
Speaker 1: weekly gain ahead of the summer driving season. I'm Genus
Speaker 1: are ready in for douw D. I'm in Chicago. I'm
Speaker 1: reporting that early total show McDonald's investors have voted in
Speaker 1: favor of a proposal calling for an independent civil rights audit.
Speaker 1: I'm Stephen Carol on Bloomberg d AB Digital Radio in London.
Speaker 1: We've been reporting on reaction to the government's announcing a
Speaker 1: windfall attacks on oil and gas companies to help fund
Speaker 1: disbanding package b piece as it's now reviewing its investments
Speaker 1: in Britain. I d gory on w w J and Dedroid.
Speaker 1: I'm reporting dog House Farm has received the city's first
Speaker 1: recreational adult use cannabis flights. And those are just some
Speaker 1: of the stories are twenty seven Bloomberg journalist and analysts
Speaker 1: are working on this morning around the world. It's five
Speaker 1: thirty nine on Wall Street. The following is an editorial
Speaker 1: from Bloomberg opinion. Cryptocurrencies are the opposite of a prudent investment.
Speaker 1: Their ballatle have little practical use and lack the real
Speaker 1: world cash flows that underpinned the values of stocks and bonds. Nevertheless,
Speaker 1: financial institutions are increasingly seeking to get crypto into employers
Speaker 1: sponsored for our one K plans. It's a misguidded idea.
Speaker 1: Americans have a hard enough time navigating the retirement saving
Speaker 1: system without adding a risky option that even professional investors
Speaker 1: struggle to understand and risky. It is the most established cryptocurrency,
Speaker 1: Bitcoin is down more than fift since November. Other cryptocurrencies
Speaker 1: have even less promising track records. People should be free
Speaker 1: to invest the money as they please, but not in
Speaker 1: their tax advantage retirement accounts. And while crypto may someday
Speaker 1: proved to be more than a purely speculative instrument, it's
Speaker 1: nowhere in near that point now. This editorial was written
Speaker 1: by the Bloomberg Opinion Editorial Board. I'm David Chipley. For
Speaker 1: more Bloomberg opinion, please go to Bloomberg dot com, slash
Speaker 1: opinion or op and go on the Bloomberg Terminal. These
Speaker 1: has been Bloomberg opinion and you can hear Bloomberg opinion
Speaker 1: editorials every weekday. At this time, terminal customers can read
Speaker 1: more at O P I N GO. As we look
Speaker 1: at futures on the rise with the SMP poise for
Speaker 1: its first weekly gain at about eight weeks, we have
Speaker 1: SMP futures up now by eleven points, STOUT futures up
Speaker 1: thirty six, NASTACK futures higher by fifty four points. We'll
Speaker 1: get perspective on this market next with Ivy Jack, head
Speaker 1: of equity research at north Start Asset Management. You're listening
Speaker 1: to Bloomberg day Break. Good morning, but we're eleven three
Speaker 1: oh weather. Some showers and storms possible this afternoon with
Speaker 1: highs in the upper seventies. Pretty much the same forecast tomorrow.
Speaker 1: We're expecting sunshine to prevail though on Sunday, with a
Speaker 1: high near eighty degrees. Right now sixty five and funky
Speaker 1: in Central Park markets. Headlines and breaking news twenty four
Speaker 1: hours a day at Bloomberg dot Com, The Bloomberg Business
Speaker 1: and at Bloomberg Quick Take. He's a Bloomberg Business Flash
Speaker 1: and I'm Karen. Moscow and stalks are rattying as dip
Speaker 1: buyers return, with European shares heading for the best weekly
Speaker 1: advanced since mid Marrow to oil is rising, and we
Speaker 1: check the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg s and P futures up twelve points this morning.
Speaker 1: Down futures have forty five NASTAC futures have fifty two
Speaker 1: The decks in Germany's up about seven tenths of u
Speaker 1: percent ten Your Treasury down one thirty second deal two
Speaker 1: point seven five percent. They yield on the two year
Speaker 1: two point four six percent. Nine X Screwed oil is
Speaker 1: up six ten percent, or sixty six cents at a
Speaker 1: hundred fourteen dollars seventy five cents of barrel comics gold
Speaker 1: is up half percent or nine dollars at eighteen sixty
Speaker 1: two ninety announce the Euro one point oh seven to
Speaker 1: three against the dollar, British pound one point to six,
Speaker 1: and the en one twenty seven point oh five, and
Speaker 1: Bitcoin this morning down one point six percent at twenty
Speaker 1: eight thousand, nine hundred fifty dollars. As a Bloomberg Business flash.
Speaker 1: Now here's Michael Barr with more on what's going on
Speaker 1: around the world. Michael, thank you very much. Tern Texas
Speaker 1: Governor Greg Abbott will no longer appear in person at
Speaker 1: the n r A convention that begins today in Houston. Instead,
Speaker 1: Abbott says, you will return to Yuvaldi, Texas to meet
Speaker 1: with families and acted by this week's school shooting. In
Speaker 1: the NHL playoffs, the Rangers are on the brink of elimination.
Speaker 1: New York lost to the Hurricanes three one in Game five.
Speaker 1: In the NBA Playoffs, the Warriors are in the finals.
Speaker 1: They won the West beating a maverage. In baseball, the
Speaker 1: Yankees beat the Ray seven to New York, and Tampa
Speaker 1: Bay dedicated their Twitter feeds last night's posting gunawareness messages
Speaker 1: rather than baseball stats. The Red Sox and Nationals won
Speaker 1: the a's Lost Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quick Take, powered by more
Speaker 1: than seven hundred journalists and analysts in more than a
Speaker 1: hundred twenty countries. I'm Michael Barr. This is Bloomberg, Nathan. Okay, Michael,
Speaker 1: thanks for coming up to five forty nine on Wall
Speaker 1: Street Live from the Bloomberg Interactive Broker Studios. This is
Speaker 1: Bloomberg Daybreak, and Ivy Jack is with us now to
Speaker 1: take a look at this market. Head of Equity Research
Speaker 1: at north Star Asset Management. Futures on the rise this morning.
Speaker 1: Ivy looking at two S and P futures near ob
Speaker 1: session high in the pre market, with US stock set
Speaker 1: to snap a seven week losing streak. Here is this
Speaker 1: a dip you'd buy? Um? Well, first of all, thank
Speaker 1: you for having me, Nathan, I would say, no, this
Speaker 1: is not a dip. I would buy. Um. I think
Speaker 1: there's gonna be a lot more pressure to come. There's
Speaker 1: still so much that we do not know, um, particularly
Speaker 1: as it relates to the fallout from the Ukrainian War. Yes,
Speaker 1: we just got first quarter earnings and it was clear, Um,
Speaker 1: you know, I would say, earnings came out better than
Speaker 1: I had anticipated, and I think it reflects to some
Speaker 1: extent the fact that we haven't seen the full brunt
Speaker 1: in terms of the fallout of the war in Ukraine,
Speaker 1: the impact that it's going to have on the cost
Speaker 1: of fossil fuel and energy, and how that's going to
Speaker 1: trickle out through the rest of our economy. So right now,
Speaker 1: I'm still expecting another five percent down in the market
Speaker 1: in the SMP five hundred, So I would hold off
Speaker 1: given that we have that potential for uncertainty with the
Speaker 1: Ukraine war. Is the FED doing enough here? Is there
Speaker 1: more that the FED can do to tackle that kind
Speaker 1: of inflationary pressure coming from the war? I think the
Speaker 1: FED is doing what it can do. UM. The Fed,
Speaker 1: you know, if we step back and think about it,
Speaker 1: the FED is very limited in the tools that they have,
Speaker 1: and so I think the FED will continue to you know,
Speaker 1: raise um the discount rate fifty basis points a couple
Speaker 1: more times. And I think that's prudent because you've got
Speaker 1: to realize, even though it's the FED for the United States, UH,
Speaker 1: the moves that the FED make impacts the entire global economy.
Speaker 1: So it's very important for them to stay um kind
Speaker 1: of predictable and to continue to signal what they're going
Speaker 1: to do and be consistent about what they do, so
Speaker 1: you know, not to make any quick change is or
Speaker 1: UM any additional hikes until they can start to see
Speaker 1: kind of how this all is going to fall out.
Speaker 1: So I think the Fed is doing what they can
Speaker 1: do right now given the tools that they have. What
Speaker 1: should they be looking at in terms of economic data,
Speaker 1: in terms of what happens with the war Ukraine when
Speaker 1: it comes to being a bit more nimble uh in
Speaker 1: their policy path. Well, I think one of the things
Speaker 1: that they're going to probably continue to look at is
Speaker 1: the health of the consumer and the job market. UM.
Speaker 1: There's no doubt that jobs continue to be strong, consumer
Speaker 1: continues to be healthy. You know, we haven't started seeing
Speaker 1: like an increase in delinquencies, so right now the consumer
Speaker 1: is healthy UM and in terms of jobs and employment,
Speaker 1: things look very good. So if you're the FIT, they're
Speaker 1: probably going to continue to monitor all of these metrics, UM,
Speaker 1: and that's that that's really I think UM going to
Speaker 1: be very important, particularly over the next couple of months.
Speaker 1: Do you expect the consumer to continue to remain healthy. Obviously,
Speaker 1: the market was buoyed somewhat this week by the retail
Speaker 1: data we got and from from some of the retail earnings.
Speaker 1: Notwithstanding the Gap results that came out yesterday, and we're
Speaker 1: seeing the shares getting pumbled there. But what's your outlook
Speaker 1: on the US consumer? I think the US consumer for
Speaker 1: the rest of the year will probably stay fairly healthy.
Speaker 1: I think what you're saying with retailers like the Gap
Speaker 1: and some of the other retailers is, look, we're seeing
Speaker 1: UM a move away from the purchase of goods and
Speaker 1: more focused on purchasing enough services. So this is something
Speaker 1: I think we should have, we should be expecting to see,
Speaker 1: and I don't think that there's anything necessarily wrong with it. UM.
Speaker 1: It might not be good necessarily for the Gap and
Speaker 1: for maybe a Target or Walmart, but in terms of
Speaker 1: the U S consumer UM, I don't think that it
Speaker 1: necessarily tells us that the consumer UM is under pressure.
Speaker 1: But with that being said, as we go through the
Speaker 1: rest of the year, you've got to realize that we're
Speaker 1: cycling the stimulus, but jobs continue to be strong, so
Speaker 1: therefore I think the consumer is still healthy. The consumer
Speaker 1: will probably remain healthy throughout the rest of the year,
Speaker 1: but that that doesn't mean that we shouldn't continue to
Speaker 1: pay close attention. Thanks for this, Ivy good having gone
Speaker 1: with us this morning. Ivy jack Had of Equity Research
Speaker 1: at north Star Asset Management Karry Nathan, it is fine
Speaker 1: to day three on Wall Street. It's time for the
Speaker 1: Bloomberg Law Report. We get to the legal stories we're
Speaker 1: watching this morning from Bloomberg's Joan Donnegher. Republicans on the
Speaker 1: Senate Finance Committee want the I R s to start
Speaker 1: using scanning technology that would allow for faster processing of
Speaker 1: paper tax returns. Ernst and Young is looking at separating
Speaker 1: its audit practice from the rest of its business. Such
Speaker 1: a move would be the largest shake up in accounting
Speaker 1: since Arthur Anderson's collapsed twenty years ago, and a Labor
Speaker 1: Department investigation finds fed x owes two d thirty five Birmingham,
Speaker 1: Alabama workers or than one one tho dollars in back
Speaker 1: pay because subcontractors didn't deep accurate records and paid workers
Speaker 1: a flat weekly rates. Bloomberg Law everything you need, all
Speaker 1: on one legal research platform, including guidance analysis and Bloomberg
Speaker 1: Market Intelligence. Find out more at Bloomberg Law dot Com.
Speaker 1: All right, Joan, thank you. Another legal story where watching
Speaker 1: law enforcement authorities are facing mounting questions and criticism over
Speaker 1: how much time elapsed before they stormed at Texas elementary
Speaker 1: school classroom and put a stop to the rampage by
Speaker 1: a gunman who killed nineteen children and two teachers. And
Speaker 1: despite calls from President Joe Biden for common sense gun legislation,
Speaker 1: there is a partisan deadlock in Congress over how to
Speaker 1: addrest the rising number of deadly massacres in this country.
Speaker 1: For more, Bloomberg student Grosso speaks to Second Amendment law
Speaker 1: expert Joseph Blocker, professor at Duke Law School, doesn't. Biden
Speaker 1: has called on Congress to end gun violence by passing
Speaker 1: common sense stun laws, but Republicans senators like Jim in
Speaker 1: Hope of Oklahoma say that no legislation could prevent these
Speaker 1: tragic mass shootings. Is federal legislation the answer. I think
Speaker 1: it's going to require of riot responses federal states and
Speaker 1: local I think there's some kinds of laws that are
Speaker 1: best known at the federal level. Expanded background checks would
Speaker 1: be a good example. That's the easiest to administer using
Speaker 1: a national background check system, which relies on data that
Speaker 1: comes from the states. But at the state level, there's
Speaker 1: plenty of reforms as well, some of which have some
Speaker 1: bipartisan support, and it's become more popular even in the
Speaker 1: last five years. So the passage of extreme Risk Protection
Speaker 1: order laws often called thread slag laws, that's a good example.
Speaker 1: Is more the twenty states have those now, almost all
Speaker 1: of them have been adopted in the last five years,
Speaker 1: so there's room there. At the local level, things are
Speaker 1: a little trickier because most states right more than forty
Speaker 1: states now have what are called preemption laws, which make
Speaker 1: it hard for local governments to regulate. But in the
Speaker 1: states where local governments still have some regulatory space, they could,
Speaker 1: for example, designates certain places like bars or you know,
Speaker 1: busy public areas, stadiums, etcetera, as sensitive places where guns
Speaker 1: shouldn't be taken. They might impose licensing requirements on people
Speaker 1: carrying guns in the particular places, so kind of require
Speaker 1: I think a broad response with the federal state and club.
Speaker 1: You know, we're waiting for this opinion from the court,
Speaker 1: and most people who listen to those oral arguments are
Speaker 1: anticipating that the court is going to strike down New
Speaker 1: York's law imposing special requirements to get a handgun license.
Speaker 1: What effect will that have? Yeah, I think the challengers
Speaker 1: in that case have reason to feel confident. I think
Speaker 1: that the New York law, at least in the current form,
Speaker 1: is probably going to be struck down. And what we're
Speaker 1: really waiting to hear is on what spaces like how
Speaker 1: broad is the Supreme Court's ruling going to be. The
Speaker 1: challenge is to the New York's current system for issuing
Speaker 1: permits to publicly carry a concealed handgun. And the Court
Speaker 1: could just say, well, New York standard is too strict,
Speaker 1: or New York standard has too much discretion built into
Speaker 1: and that would be relatively limited holding. It will be
Speaker 1: a big one. And the Court could go further and say,
Speaker 1: you know, permit requirements for public carrying our constitutional or
Speaker 1: they all have to be or called shall issue, meaning
Speaker 1: based on purely objective criterion um and those would be broader.
Speaker 1: And it shows if Blocker a professor at Duke Law
Speaker 1: School speaking at the Bloomberg Student Garasso. Catch more of
Speaker 1: that interview, plus analysis of the latest legal news, by
Speaker 1: listening to The Bloomberg Law Show at ten pm Eastern
Speaker 1: time or subscribing to the Bloomberg Law podcast, and attorneys
Speaker 1: can find exceptional legal research and business development tools at
Speaker 1: Bloomberg law dot com. Futures higher this morning, S and
Speaker 1: P futures up about nineteen points and still ahead on
Speaker 1: Bloomberg Daybreak and check on the business headlines and all
Speaker 1: the news you need to start your day. This is
Speaker 1: Bloomberg