1 00:00:00,800 --> 00:00:04,320 Speaker 1: Live from the Bloomberg Interactive Broker Studios. This is Bloomberg 2 00:00:04,400 --> 00:00:07,960 Speaker 1: day Break for Wednesday, June eight two. Coming up this hour, 3 00:00:08,119 --> 00:00:11,640 Speaker 1: key primary results are in from California and New Jersey. 4 00:00:11,680 --> 00:00:15,280 Speaker 1: We're live with the latest chorus. Johnson plans legislation to 5 00:00:15,440 --> 00:00:18,840 Speaker 1: override parts of the Brexit deal. Credit sweet shares plunge 6 00:00:18,960 --> 00:00:22,320 Speaker 1: after warning of a second quarter loss, and new developments 7 00:00:22,360 --> 00:00:25,960 Speaker 1: this morning involving Elon Musk and Twitter controversy over a 8 00:00:26,040 --> 00:00:28,840 Speaker 1: planned New York City event with Florida Governor de Santis, 9 00:00:28,880 --> 00:00:31,840 Speaker 1: plus a New Jersey mayor says the American Dream mall 10 00:00:31,880 --> 00:00:35,520 Speaker 1: Owes his city millions. Michael Barre more ahead, I'm John 11 00:00:35,520 --> 00:00:37,879 Speaker 1: Stage and Swards Champa. Maybe if the Rangers to tie 12 00:00:37,920 --> 00:00:40,280 Speaker 1: up the series at two, the Yankees one at Minnesota, 13 00:00:40,320 --> 00:00:45,080 Speaker 1: the Mets will shut out to San Diego. That's alls 14 00:00:45,080 --> 00:00:48,320 Speaker 1: tradit head on Bloomberg day Break on Bloomberg he Live 15 00:00:48,400 --> 00:00:53,000 Speaker 1: in freon New York, Bloomberg one, Washington, d C, Bloomberg 16 00:00:53,000 --> 00:00:56,920 Speaker 1: one oh six one, Boston, Bloomberg nine sixties and Francisco 17 00:00:57,200 --> 00:01:00,920 Speaker 1: Sirius XM one nineteen and around the world on Bloomberg 18 00:01:01,000 --> 00:01:07,960 Speaker 1: Radio dot Com and via the Bloomberg Business. Good morning, 19 00:01:07,959 --> 00:01:11,360 Speaker 1: I'm Nathan Hager, I'm any Morris. Bloomberg Daybreak is brought 20 00:01:11,440 --> 00:01:14,959 Speaker 1: to you by being Wide Melon Pershing's Inside conference back 21 00:01:15,000 --> 00:01:17,960 Speaker 1: in person June fift through the seventeenth that the Gay 22 00:01:18,000 --> 00:01:21,280 Speaker 1: Lord Resort in grape Vine, Texas. Don't miss it. Registered 23 00:01:21,319 --> 00:01:24,000 Speaker 1: now at Inside dot b and y Melon dot com 24 00:01:24,280 --> 00:01:26,960 Speaker 1: and watching futures move lower. On this Wednesday morning, it 25 00:01:27,120 --> 00:01:28,720 Speaker 1: is six oh one on Wall Street. We checked the 26 00:01:28,760 --> 00:01:31,240 Speaker 1: markets every fifteen minutes during the trading day. On Bloomberg. 27 00:01:31,520 --> 00:01:34,080 Speaker 1: SFP futures are down seventeen points. Staff futures down a 28 00:01:34,319 --> 00:01:37,559 Speaker 1: D fifty five. Nastack futures are lower by thirty eight points. 29 00:01:37,560 --> 00:01:40,160 Speaker 1: The tenure treasuries down eight thirty seconds for a yield 30 00:01:40,160 --> 00:01:43,399 Speaker 1: of three percent. Amy well more on the markets in 31 00:01:43,400 --> 00:01:46,399 Speaker 1: a moment. We begin with primarias across seven states last night, 32 00:01:46,520 --> 00:01:49,800 Speaker 1: starting in California, San Francisco, residents took to the polls 33 00:01:49,840 --> 00:01:53,920 Speaker 1: to ausked Progressive District Attorney Jason Buddin. Voters were not 34 00:01:53,960 --> 00:01:57,360 Speaker 1: asked to choose between criminal justice reform and something else. 35 00:01:58,080 --> 00:02:01,240 Speaker 1: They were given an opportunity to voice their frustration and 36 00:02:01,240 --> 00:02:04,200 Speaker 1: their outrage, and they took that opportunity. Jason Boudein's recall 37 00:02:04,280 --> 00:02:08,120 Speaker 1: election turned into a heated campaign, dividing Democrats. Boodins sought 38 00:02:08,120 --> 00:02:11,720 Speaker 1: criminal justice reform, critics panded him is far too lenient 39 00:02:11,840 --> 00:02:15,360 Speaker 1: on crime. He addressed his supporters after his defeat. I 40 00:02:15,400 --> 00:02:19,440 Speaker 1: want to be very clear about what happened tonight. The 41 00:02:19,560 --> 00:02:24,040 Speaker 1: right wing billionaires outspent us three to one. They exploited 42 00:02:24,040 --> 00:02:29,000 Speaker 1: an environment in which people are appropriately upset. San Francisco 43 00:02:29,040 --> 00:02:31,840 Speaker 1: District Attorney Jason Budein will be replaced by an interim 44 00:02:31,919 --> 00:02:35,880 Speaker 1: dh chosen by San Francisco Mayor London Breed. Also in California, 45 00:02:35,919 --> 00:02:38,720 Speaker 1: amy Governor Gavin knew Some cruise to an easy victory. 46 00:02:38,760 --> 00:02:41,960 Speaker 1: He'll advance to November election. In Los Angeles, public safety 47 00:02:42,040 --> 00:02:45,080 Speaker 1: is also a key issue in that city's mayoral race. 48 00:02:45,520 --> 00:02:49,640 Speaker 1: Billionaire real estate developer Rick Caruso and California Representative Karen 49 00:02:49,720 --> 00:02:52,880 Speaker 1: Bass are headed for a runoff after yesterday's primary. In 50 00:02:52,919 --> 00:02:55,959 Speaker 1: other states, congressional race has served as yet another measure 51 00:02:55,960 --> 00:02:59,960 Speaker 1: of former President Donald Trump's influence over the GOP. Bloomberg 52 00:03:00,120 --> 00:03:03,079 Speaker 1: Michael Barr joins US Live with more on primary results. 53 00:03:03,120 --> 00:03:05,760 Speaker 1: In New Jersey, Good Morning, Michael, Good Morning, Nathan. A 54 00:03:05,800 --> 00:03:09,240 Speaker 1: dozen U s OL seats are being contested in New Jersey. 55 00:03:09,520 --> 00:03:14,480 Speaker 1: They were several GOP candidates who followed Donald Trump's brand. However, 56 00:03:14,480 --> 00:03:18,120 Speaker 1: in New Jersey, only two of the twelve member delegation 57 00:03:18,240 --> 00:03:22,040 Speaker 1: are Republicans. In the second district, incumbent Jeff Van Drew 58 00:03:22,520 --> 00:03:26,120 Speaker 1: won the GOP primary with six percent. Van Drew face 59 00:03:26,200 --> 00:03:29,960 Speaker 1: Democrat Tim Alexander, who got sixty two percent. In the 60 00:03:30,040 --> 00:03:34,000 Speaker 1: fourth district, incumbent Republican Chris Smith won with fifty eight 61 00:03:34,040 --> 00:03:36,880 Speaker 1: percent of the vote. Smith will face Democrat Matthew Jenkins, 62 00:03:36,920 --> 00:03:40,720 Speaker 1: who ran unopposed. In the seventh district, Republican Thomas Kane Jr. 63 00:03:40,880 --> 00:03:45,160 Speaker 1: Received forty six percent. He'll face incumbent Democrat Tom Malinowski, 64 00:03:45,200 --> 00:03:47,920 Speaker 1: who got pent of the vote. In New York, Michael 65 00:03:47,960 --> 00:03:51,000 Speaker 1: Barr Bloomberg Day Break, Alright, Michael, thank you. And five 66 00:03:51,080 --> 00:03:55,200 Speaker 1: other states held primaries South Dakota, Mississippi, New Mexico, Iowa, 67 00:03:55,280 --> 00:03:59,680 Speaker 1: and Montana. Incumbents mostly staved off challenges from other candidates 68 00:04:00,040 --> 00:04:03,160 Speaker 1: during the Politics Overseas Now Amy. After winning a confidence 69 00:04:03,240 --> 00:04:06,120 Speaker 1: vote this week, UK Prime Minister Boris Johnson plans to 70 00:04:06,200 --> 00:04:09,720 Speaker 1: press ahead with legislation, it's likely to anger some of 71 00:04:09,800 --> 00:04:12,720 Speaker 1: his political allies. Bloombergs you and Pots joins us from 72 00:04:12,720 --> 00:04:15,080 Speaker 1: London with the latest. Good morning you, and good morning 73 00:04:15,120 --> 00:04:17,520 Speaker 1: Nathan and Amy. Back to work for Boris Johnson is 74 00:04:17,600 --> 00:04:20,240 Speaker 1: less than two days since the UK Prime Minister narrowly 75 00:04:20,279 --> 00:04:24,200 Speaker 1: survived the confidence votes among his Conservative Party colleagues. Now 76 00:04:24,279 --> 00:04:27,880 Speaker 1: Bloomberg understands that Johnson is pressing ahead with divisive plans 77 00:04:27,920 --> 00:04:31,320 Speaker 1: on the Northern Ireland Protocol. The legislation is likely to 78 00:04:31,320 --> 00:04:34,719 Speaker 1: give ministers the power to UNI actually rewrite post brexit 79 00:04:34,800 --> 00:04:37,400 Speaker 1: trading rules the European Union as will and the move 80 00:04:37,480 --> 00:04:40,120 Speaker 1: could leave to a suspension of the UK's trade deal. 81 00:04:40,360 --> 00:04:42,560 Speaker 1: In London, I'm you and part spoon book daybreak, Thank 82 00:04:42,600 --> 00:04:44,680 Speaker 1: you you, and turning to the market's US futures are 83 00:04:44,720 --> 00:04:48,480 Speaker 1: down this morning after yesterday's broad based rally. Sentiment remains 84 00:04:48,520 --> 00:04:51,839 Speaker 1: fragile amid concerns interest rates will need to go hire 85 00:04:51,880 --> 00:04:55,919 Speaker 1: to rein in inflation. However, Pimco portfolio manager Aaron Brown 86 00:04:56,000 --> 00:05:00,720 Speaker 1: says easing supply pressures could temper aggressiveness from central banks 87 00:05:00,760 --> 00:05:03,400 Speaker 1: as we start to seeing more chips supply. As we 88 00:05:03,480 --> 00:05:06,800 Speaker 1: start to see you know less of this demand for goods. 89 00:05:07,240 --> 00:05:09,800 Speaker 1: We do think that you will start to see inflation 90 00:05:10,240 --> 00:05:13,560 Speaker 1: peak and then ultimately start to roll over. Aaron Brown 91 00:05:13,600 --> 00:05:16,920 Speaker 1: of pimcosa as waning supply team disruptions leave her cautiously 92 00:05:16,960 --> 00:05:21,160 Speaker 1: optimistic about markets well in Asia, Amy China's tech stock 93 00:05:21,240 --> 00:05:23,360 Speaker 1: saw big john The government's late dispatch of new game 94 00:05:23,400 --> 00:05:26,360 Speaker 1: approvals bolstered bets of the industry's business outlook is on 95 00:05:26,400 --> 00:05:29,880 Speaker 1: the end. Bloomberg's Juliette Sally has more. From Singapore, thew 96 00:05:29,880 --> 00:05:32,040 Speaker 1: Hang sing Tech index rose to a two month high. 97 00:05:32,120 --> 00:05:36,240 Speaker 1: A sentiment was bolsted that authorities are moving towards policy normalization, 98 00:05:36,680 --> 00:05:39,760 Speaker 1: but the contrarian who called China's tech routes says the 99 00:05:39,800 --> 00:05:43,000 Speaker 1: sector is still a cell. Dizzy Banks Manuel Mural, writing 100 00:05:43,040 --> 00:05:45,720 Speaker 1: he feels reports regulators are preparing to wrap up a 101 00:05:45,800 --> 00:05:49,040 Speaker 1: probe into d D a premature. Elsewhere, continued weakness in 102 00:05:49,080 --> 00:05:52,920 Speaker 1: the yend saw Japanese equities rise and Australian stocks recouped 103 00:05:52,960 --> 00:05:56,320 Speaker 1: some of Tuesday's losses. Short dated Indian bonds rallied, with 104 00:05:56,400 --> 00:05:59,239 Speaker 1: the four year yield dropping twelve basis points as India's 105 00:05:59,240 --> 00:06:02,600 Speaker 1: Central Bank in the jumbo rate high club in Singapore, 106 00:06:02,680 --> 00:06:06,159 Speaker 1: Juliette Sale, bloom Big Daybreak, Thank Juliette, and Europe credits 107 00:06:06,200 --> 00:06:09,200 Speaker 1: We shares are down more than five percent. The Swisslander 108 00:06:09,240 --> 00:06:12,000 Speaker 1: expects the laws at the group wide level and investment 109 00:06:12,040 --> 00:06:15,240 Speaker 1: bank in the second quarter. Credits We says market conditions 110 00:06:15,240 --> 00:06:18,279 Speaker 1: have remained challenging after the invasion of Ukraine and monetary 111 00:06:18,279 --> 00:06:20,760 Speaker 1: tightening around the world. Now, the Corporate News amy there 112 00:06:20,800 --> 00:06:24,200 Speaker 1: is new uncertainty surrounding the Elon Musk Twitter deal. Bloomberg's 113 00:06:24,320 --> 00:06:27,520 Speaker 1: Nita Young joins US Live with more on that. Good Morning, 114 00:06:27,600 --> 00:06:30,640 Speaker 1: Good Morning, Nathan. Elon Musk's attempts to get new funding 115 00:06:30,680 --> 00:06:33,520 Speaker 1: to take Twitter private are now on hold, and it's 116 00:06:33,560 --> 00:06:37,000 Speaker 1: because of uncertainty surrounding the deal. That's according to Reuters, 117 00:06:37,040 --> 00:06:40,840 Speaker 1: who reports conversations have halted with private equity firms, including 118 00:06:40,839 --> 00:06:44,480 Speaker 1: Apollo Global Management, until there's clarity about the future of 119 00:06:44,520 --> 00:06:47,680 Speaker 1: the acquisition. Musk has been trying to reduce his thirty 120 00:06:47,720 --> 00:06:50,960 Speaker 1: three point five billion dollar cash contribution to the forty 121 00:06:50,960 --> 00:06:55,000 Speaker 1: four billion dollar deal by preferred equity financing. Meantime, he's 122 00:06:55,000 --> 00:06:57,560 Speaker 1: also threatened to back away from the deal if Twitter 123 00:06:57,600 --> 00:07:00,279 Speaker 1: cannot prove less than five percent of its use. There's 124 00:07:00,320 --> 00:07:03,080 Speaker 1: our bots live in New York. I'm really need a 125 00:07:03,120 --> 00:07:06,239 Speaker 1: young Bloomberg daybreak. Okay, we need to thanks SMP. Futures 126 00:07:06,240 --> 00:07:09,560 Speaker 1: now down twenty points down, Futures down a hundred sixty four, nastack, 127 00:07:09,640 --> 00:07:12,360 Speaker 1: futures are lowered by fifty two points ten. Your treasury 128 00:07:12,360 --> 00:07:14,640 Speaker 1: down seven thirty seconds for a yield of three percent. 129 00:07:14,760 --> 00:07:17,960 Speaker 1: Straight ahead, your latest local headlines, and a check of sports. 130 00:07:18,000 --> 00:07:25,160 Speaker 1: This is Bloomberg. Thank you, Nathan. It is six oh 131 00:07:25,200 --> 00:07:27,600 Speaker 1: seven on Wall Street. Let's bring in Michael Barrow will 132 00:07:27,600 --> 00:07:29,440 Speaker 1: find out what else is going on in New York 133 00:07:29,520 --> 00:07:32,240 Speaker 1: and around the world. Good morning, Michael, Good morning Amy. 134 00:07:32,320 --> 00:07:35,559 Speaker 1: New York lawmakers called on the Chelsea Piers Entertainment Center 135 00:07:35,600 --> 00:07:38,440 Speaker 1: to canceled an upcoming event that includes Florida government around 136 00:07:38,440 --> 00:07:41,080 Speaker 1: the Santis, saying his parents would be an insult to 137 00:07:41,160 --> 00:07:45,720 Speaker 1: the city's LGBTQ community. According to an online event scheduled 138 00:07:45,720 --> 00:07:49,640 Speaker 1: to Scantists, a Republican and potential twenty four presidential candidate, 139 00:07:50,040 --> 00:07:52,840 Speaker 1: we'll discuss the Florida model and why it's good for 140 00:07:53,000 --> 00:07:56,840 Speaker 1: religious Americans on June twelve. At the Jewish Leadership Conference. 141 00:07:57,160 --> 00:08:00,080 Speaker 1: Critics specifically signed at the Florida law to sant To 142 00:08:00,240 --> 00:08:05,160 Speaker 1: sign that restricts classroom instruction about sexual orientation and gender 143 00:08:05,280 --> 00:08:09,200 Speaker 1: identity for children in kindergarten through third grade. Is the 144 00:08:09,360 --> 00:08:12,880 Speaker 1: Senate getting closer to a compromise on gun safety Bloomberg's 145 00:08:12,880 --> 00:08:16,240 Speaker 1: aid Baxter reports Senator Chris Murphy is telling President Joe 146 00:08:16,360 --> 00:08:19,880 Speaker 1: Biden every day we get closer to an agreement, not 147 00:08:20,440 --> 00:08:23,560 Speaker 1: further away, and House Minority Leader Mitch McConnell is being 148 00:08:23,720 --> 00:08:26,679 Speaker 1: very careful about commenting. I don't want to speculate about 149 00:08:26,920 --> 00:08:30,320 Speaker 1: how many of my members might support it, So Majority 150 00:08:30,400 --> 00:08:33,719 Speaker 1: Leader Chuck Schumer says it will need those votes. We 151 00:08:33,800 --> 00:08:36,760 Speaker 1: don't just need thoughts and prayers. We need votes. We 152 00:08:36,880 --> 00:08:40,160 Speaker 1: need action. We need at least ten Republicans who are 153 00:08:40,200 --> 00:08:43,439 Speaker 1: willing to say yes. But the hope is closer in 154 00:08:43,600 --> 00:08:46,600 Speaker 1: San Francisco. I'm at Baxter Bloomberg gaybreak. It comes as 155 00:08:46,640 --> 00:08:49,400 Speaker 1: actor Matthew McConaughey made a plead of Washington d c. 156 00:08:49,600 --> 00:08:52,720 Speaker 1: To make changes to gun laws now. The Uvaldy, Texas 157 00:08:52,800 --> 00:08:55,760 Speaker 1: native visited his hometown the day after the massacre at 158 00:08:55,800 --> 00:08:58,760 Speaker 1: an elementary school that left nineteen children and two of 159 00:08:58,840 --> 00:09:02,400 Speaker 1: their teachers dead. He spoke to the White House Press Briefing, 160 00:09:02,480 --> 00:09:05,719 Speaker 1: calling out any legislators who are hedging on change. We 161 00:09:05,800 --> 00:09:09,280 Speaker 1: start right now by voting to pass policies that can 162 00:09:09,400 --> 00:09:12,800 Speaker 1: keep us from having as many Columbines, Sandy Hooks, Parklands, 163 00:09:12,880 --> 00:09:16,319 Speaker 1: Las Vegas is Buffaloes and you Valdies. From here on, 164 00:09:17,240 --> 00:09:21,440 Speaker 1: McConaughey called on lawmakers to rise above politics American dream. 165 00:09:21,520 --> 00:09:24,520 Speaker 1: The five billion dollars super mall in New Jersey isn't 166 00:09:24,559 --> 00:09:27,720 Speaker 1: only in hock to bond holders. The mayor of East 167 00:09:27,800 --> 00:09:31,559 Speaker 1: Rutherford says the shopping and entertainment complex owes the borough 168 00:09:31,600 --> 00:09:35,880 Speaker 1: between five point five million and six million dollars. Jeffrey 169 00:09:36,040 --> 00:09:39,280 Speaker 1: Lawholier says the mall, which is in the meadow Land 170 00:09:39,600 --> 00:09:42,760 Speaker 1: Sports Complex, has failed to make payments in lieu of 171 00:09:42,840 --> 00:09:46,160 Speaker 1: property taxes. Global News twenty four hours a day on 172 00:09:46,400 --> 00:09:50,000 Speaker 1: air and on Bloomberg Quicktake, powered by more than twenty 173 00:09:50,080 --> 00:09:53,000 Speaker 1: seven hundred journalists and analysts more than a hundred twenty countries. 174 00:09:53,320 --> 00:09:56,800 Speaker 1: Michael Barr and this is Bloomberg. Ain't all right? Thank you? Michael. 175 00:09:59,480 --> 00:10:01,599 Speaker 1: It's six in on Wall Street. Time now for the 176 00:10:01,640 --> 00:10:04,679 Speaker 1: Bloomburgh Sports Update with John stash Our Amy The Rangers 177 00:10:04,760 --> 00:10:07,120 Speaker 1: have gotten to this point two wins from playing for 178 00:10:07,160 --> 00:10:09,560 Speaker 1: the Stanley Cup, winning only twice on the road. They 179 00:10:09,600 --> 00:10:11,640 Speaker 1: won the two road games they had to win or 180 00:10:11,679 --> 00:10:14,040 Speaker 1: their season would be over. Game six in Pittsburgh, Game 181 00:10:14,120 --> 00:10:17,640 Speaker 1: seventh Carolina, but they've lost the other seven on the road. 182 00:10:17,760 --> 00:10:20,200 Speaker 1: Tampa Bay took last night's game four, four to one, 183 00:10:20,520 --> 00:10:22,560 Speaker 1: and the East Finals are tied at too Only Ranger 184 00:10:22,600 --> 00:10:24,800 Speaker 1: goal came late from Martimi Fanarin. It was on the 185 00:10:24,840 --> 00:10:27,800 Speaker 1: power play. Rangers never scored in the two games at 186 00:10:27,880 --> 00:10:30,760 Speaker 1: Tampa at even strength. The good news they're coming home 187 00:10:30,840 --> 00:10:32,920 Speaker 1: where they've won eight in a row. Game five tomorrow 188 00:10:33,000 --> 00:10:35,839 Speaker 1: night at MSG. Game three the NBA Finals tonight in 189 00:10:35,920 --> 00:10:39,000 Speaker 1: Boston Celtics Warriors tied at one win of the year 190 00:10:39,080 --> 00:10:41,640 Speaker 1: for the Yankees with an occurrence early on. It has 191 00:10:41,679 --> 00:10:47,320 Speaker 1: now happened twenty two times. The field and Buxton back, 192 00:10:47,440 --> 00:10:50,319 Speaker 1: He's on the track, he's on the wall. She's gone 193 00:10:51,480 --> 00:10:57,439 Speaker 1: over the Centerville wall. I judge in blast, but he 194 00:10:57,679 --> 00:11:02,320 Speaker 1: is something Aaron Judge, Hey all rod a and twenty 195 00:11:02,360 --> 00:11:04,800 Speaker 1: two homers for Judge. That's five more than anyone else 196 00:11:04,880 --> 00:11:07,360 Speaker 1: in baseball. That game first standing with a man on 197 00:11:07,480 --> 00:11:10,240 Speaker 1: John Carlos Fanton hit his twelve also in the first 198 00:11:10,280 --> 00:11:12,720 Speaker 1: and then in the seventh three runch shot far Anthony 199 00:11:12,800 --> 00:11:15,559 Speaker 1: Rizzo is fourteen. Yanks beat the Twins ten to four. 200 00:11:15,640 --> 00:11:18,240 Speaker 1: They are forty and fifteen. They won seven a row. 201 00:11:18,679 --> 00:11:21,360 Speaker 1: Mets lost in San Diego seven up. He managed only 202 00:11:21,440 --> 00:11:23,800 Speaker 1: only two hits up the podres you Darvish the Red 203 00:11:23,840 --> 00:11:26,679 Speaker 1: Sox one in tennants. They sent the Angels to a 204 00:11:26,760 --> 00:11:29,120 Speaker 1: club record thirteen bloss in a row, and the Angels 205 00:11:29,160 --> 00:11:32,120 Speaker 1: have fired their manager. Sixty eight year old Joe Madden, 206 00:11:32,120 --> 00:11:34,520 Speaker 1: who has been managing the majors the last seventeen years, 207 00:11:34,559 --> 00:11:36,080 Speaker 1: want to pen up with Tampa Bay, of course, won 208 00:11:36,080 --> 00:11:39,320 Speaker 1: a World Series with the Cups. Just Dash Award Bloomberg 209 00:11:39,360 --> 00:11:42,720 Speaker 1: Sports Team, all right, thank you, John checking Futures now 210 00:11:42,960 --> 00:11:46,920 Speaker 1: s and P Futures down nineteen points, del Futures down 211 00:11:47,080 --> 00:11:51,760 Speaker 1: one sixty nastat Features down forty nine and a half point. 212 00:11:51,800 --> 00:11:53,959 Speaker 1: It's much more still to come on this Wednesday morning 213 00:11:54,440 --> 00:11:58,200 Speaker 1: on Bloomberg Break Daybreak, Stay with us. This is Bloomberg. 214 00:12:07,920 --> 00:12:11,199 Speaker 1: Bloomberg Daybreak is brought to you by Hafster University's Frank G. 215 00:12:11,600 --> 00:12:14,320 Speaker 1: Zarb School of Business is ourb Executive NBA is built 216 00:12:14,360 --> 00:12:16,600 Speaker 1: for working professionals and can be completed in this few 217 00:12:16,640 --> 00:12:19,240 Speaker 1: as eleven months. Is at Hauster dot etu slash go 218 00:12:19,360 --> 00:12:25,360 Speaker 1: grad markets headlines and breaking news twenty four hours a day, 219 00:12:25,520 --> 00:12:28,480 Speaker 1: at Bloomberg dot com, the Bloomberg Business at and at 220 00:12:28,520 --> 00:12:38,560 Speaker 1: Bloomberg Quicktape Truth He's a Bloomberg Business Flash. I'm Nathan Hagar. 221 00:12:38,679 --> 00:12:42,120 Speaker 1: US futures are falling along with European stocks. SMP and 222 00:12:42,240 --> 00:12:46,240 Speaker 1: nastack futures both slipping, signaling a pause following two days 223 00:12:46,320 --> 00:12:50,320 Speaker 1: of gains, with persistent worries about inflation and measures about 224 00:12:50,760 --> 00:12:54,439 Speaker 1: avengngers by central banks to rein it. In weighing on 225 00:12:54,800 --> 00:12:57,200 Speaker 1: this market, we check the numbers for you every fifteen 226 00:12:57,240 --> 00:13:00,280 Speaker 1: minutes during the trading down Bloomberg Right now, spf utuers 227 00:13:00,280 --> 00:13:02,719 Speaker 1: are down twenty points, Staff futures down a hundred sixty six, 228 00:13:02,840 --> 00:13:05,760 Speaker 1: nast deck futures lowered by fifty two points. Germany's decks 229 00:13:05,800 --> 00:13:07,640 Speaker 1: down a half percent. The CACK in Paris is lowered 230 00:13:07,640 --> 00:13:09,439 Speaker 1: by seven tenths of one percent. To foot Sea in 231 00:13:09,480 --> 00:13:12,680 Speaker 1: London down three tenths per cent. To tell your treasury 232 00:13:12,720 --> 00:13:14,760 Speaker 1: is down eight thirty seconds for a yield of three 233 00:13:14,840 --> 00:13:17,840 Speaker 1: percent yield on the two year two point seven four percent. 234 00:13:18,240 --> 00:13:20,240 Speaker 1: Nime X Screwed is up one and a quarter percent 235 00:13:20,320 --> 00:13:22,760 Speaker 1: of a dollar fifty and a hundred twenty dollars ninety 236 00:13:22,800 --> 00:13:24,959 Speaker 1: one cents for a barrel of West Texas Intermediate crewed 237 00:13:25,160 --> 00:13:27,720 Speaker 1: comics called Little Changed up twenty cents at eighteen fifty 238 00:13:27,760 --> 00:13:30,280 Speaker 1: two thirty announced. The Euro is at one point zero 239 00:13:30,400 --> 00:13:33,160 Speaker 1: seven two zero against the dollar, British pound one point 240 00:13:33,240 --> 00:13:35,800 Speaker 1: one five three eight. The end is at one thirty 241 00:13:35,840 --> 00:13:39,199 Speaker 1: three point seven six Bitcoin trading around thirty thousand, four 242 00:13:39,280 --> 00:13:42,280 Speaker 1: hundred dollars. That's a Bloomberg business flash. Now here's Michael 243 00:13:42,280 --> 00:13:44,240 Speaker 1: Barr with more on what's going on around the world. 244 00:13:44,320 --> 00:13:48,640 Speaker 1: Michael Nathan, thank you very much. Democratic US representative Karen 245 00:13:48,720 --> 00:13:52,680 Speaker 1: Bass and billionaire developer Rick Caruso Breeze passed a large 246 00:13:52,840 --> 00:13:55,280 Speaker 1: field of rivals looking to be the next mayor of 247 00:13:55,360 --> 00:13:58,360 Speaker 1: Los Angeles in advanced to a runoff election in November. 248 00:13:58,920 --> 00:14:01,120 Speaker 1: Bass is poised to come the first woman to hold 249 00:14:01,160 --> 00:14:03,839 Speaker 1: the job in the nation's second most populous city. The 250 00:14:03,880 --> 00:14:07,200 Speaker 1: winner in November will replace outgoing mayor Eric Carr. City 251 00:14:07,760 --> 00:14:10,240 Speaker 1: in the NHL East find All the Rangers lost to 252 00:14:10,280 --> 00:14:12,800 Speaker 1: the Lightning for one, the series now tied at two 253 00:14:12,880 --> 00:14:16,240 Speaker 1: games apiece. In baseball, the Yankees one, the Mets lost, 254 00:14:16,559 --> 00:14:19,440 Speaker 1: the Red Soxcen Orioles were winners. The Nationals lost, along 255 00:14:19,520 --> 00:14:23,240 Speaker 1: with the A's and Giants. Global News twenty four hours 256 00:14:23,320 --> 00:14:26,360 Speaker 1: a day on air and on Bloomberg Quick Take, powered 257 00:14:26,400 --> 00:14:29,120 Speaker 1: by more than twenty seven hundred journalists and analysts more 258 00:14:29,120 --> 00:14:31,800 Speaker 1: than a hundred twenty countries. Michael Barr and this is 259 00:14:31,840 --> 00:14:34,840 Speaker 1: Bloomberg any all right? Thank you, Michael. It is six 260 00:14:35,000 --> 00:14:37,560 Speaker 1: nineteen on Wall Street where live from the Bloomberg Interactive 261 00:14:37,600 --> 00:14:40,800 Speaker 1: Broker Studios on Bloomberg Daybreak. Getting word this morning, UK 262 00:14:40,960 --> 00:14:44,640 Speaker 1: Prime Minister Boris Johnson plans to press ahead with legislation 263 00:14:45,040 --> 00:14:47,840 Speaker 1: giving him the power to override parts of the Brexit deal. 264 00:14:48,280 --> 00:14:51,040 Speaker 1: Joining us now to talk about this, Bloomberg's Lizzie Burden 265 00:14:51,160 --> 00:14:53,840 Speaker 1: joining us live from London. Lizzie, thank you for taking 266 00:14:53,880 --> 00:14:56,240 Speaker 1: the time with this this morning. Let's talk about what 267 00:14:56,320 --> 00:14:59,760 Speaker 1: Boris Johnson is doing. He barely survived that confidence vote 268 00:14:59,800 --> 00:15:03,200 Speaker 1: ear Yer this week that left him weakend, So what 269 00:15:03,480 --> 00:15:07,720 Speaker 1: might this do to his political standing? This seems risky, Hiami, Yeah, 270 00:15:07,760 --> 00:15:10,840 Speaker 1: of course it appears appeases the pro Brexit vote within 271 00:15:10,920 --> 00:15:14,120 Speaker 1: the Conservative Party, and there's this huge rush to get 272 00:15:14,280 --> 00:15:17,920 Speaker 1: something done because they want to appease the pro unionist 273 00:15:18,000 --> 00:15:21,160 Speaker 1: Democratic Unionist Party in Northern Ireland and restore the region's 274 00:15:21,240 --> 00:15:24,880 Speaker 1: power sharing executive. But it is very, very risky at home. 275 00:15:25,440 --> 00:15:28,440 Speaker 1: The former UK Treasury Minister Jesse Norman has warned that 276 00:15:28,800 --> 00:15:31,240 Speaker 1: if you rip up the Northern Ireland Protocol it would 277 00:15:31,280 --> 00:15:35,560 Speaker 1: be economically damaging, politically foolhardy, these are his words, and 278 00:15:35,640 --> 00:15:40,360 Speaker 1: almost certainly illegal. And then internationally, Boris Johnson's predecessor as 279 00:15:40,400 --> 00:15:43,960 Speaker 1: Prime Minister, Theresa May, has warned that since it was 280 00:15:44,040 --> 00:15:46,760 Speaker 1: Johnson who signed the Northern Ireland Protocol, if he rips 281 00:15:46,800 --> 00:15:50,400 Speaker 1: it up, then other countries are going to question Britain's integrity. 282 00:15:51,120 --> 00:15:53,480 Speaker 1: So it's risky at a time when Johnson has just 283 00:15:53,760 --> 00:15:57,560 Speaker 1: clipped clung on through a vote in which forty of 284 00:15:57,640 --> 00:16:02,360 Speaker 1: his MPs had declared that they lost infidence in him. Lizzy, 285 00:16:02,480 --> 00:16:04,520 Speaker 1: is it possible that this is an attempt to divert 286 00:16:04,560 --> 00:16:07,920 Speaker 1: attention away from those other issues. Well, you could argue 287 00:16:07,920 --> 00:16:09,920 Speaker 1: that this is Boris Johnson trying to show that he's 288 00:16:09,960 --> 00:16:13,160 Speaker 1: moving on, even though some of the Tory press have 289 00:16:13,320 --> 00:16:16,240 Speaker 1: called the vote on Monday a hollow victory. But on 290 00:16:16,320 --> 00:16:18,560 Speaker 1: the other hand, I would question where this is coming from. 291 00:16:18,680 --> 00:16:21,480 Speaker 1: My reading is that it's driven by the Foreign Office 292 00:16:21,760 --> 00:16:24,640 Speaker 1: more than Number ten, and this is the Foreign Secretary 293 00:16:24,720 --> 00:16:28,000 Speaker 1: lest trust showing the Conservative base that even though once 294 00:16:28,080 --> 00:16:30,920 Speaker 1: upon a time she was a remainer, she's willing to 295 00:16:31,040 --> 00:16:33,680 Speaker 1: stand up to Brussels and that would help her if 296 00:16:33,760 --> 00:16:36,880 Speaker 1: and when a leadership election comes and she's one of 297 00:16:36,920 --> 00:16:38,920 Speaker 1: the top names on the runners and riders lists that 298 00:16:38,960 --> 00:16:42,800 Speaker 1: are circulating. And I just want to build on something 299 00:16:42,840 --> 00:16:46,440 Speaker 1: you said that there's timing here seems significant. He's doing 300 00:16:46,520 --> 00:16:49,840 Speaker 1: this very quickly after that confidence vote because any delay 301 00:16:49,960 --> 00:16:54,200 Speaker 1: might make him look weaker, right, Yeah, Well, officials signaled 302 00:16:54,280 --> 00:16:57,040 Speaker 1: last months that the government was looking at the fortnight 303 00:16:57,080 --> 00:17:00,280 Speaker 1: after June the six to introduce some legislation like this, 304 00:17:00,560 --> 00:17:04,359 Speaker 1: So a delay beyond that window would bolster the impression 305 00:17:04,560 --> 00:17:08,160 Speaker 1: that legislating has been made more difficult by the vote. 306 00:17:08,200 --> 00:17:10,440 Speaker 1: But this is exactly where a question whether this is 307 00:17:10,720 --> 00:17:13,359 Speaker 1: more driven by the Foreign Office than Number ten. The 308 00:17:13,520 --> 00:17:16,879 Speaker 1: timing is is a huge gamble for Johnson at risks 309 00:17:16,920 --> 00:17:20,119 Speaker 1: dividing the Conservatives even more because while it plays to 310 00:17:20,160 --> 00:17:22,639 Speaker 1: the pro Brexit wing, is going to stir the pro 311 00:17:22,840 --> 00:17:26,960 Speaker 1: EU rebels that voted against Johnson on Monday, and Brussel 312 00:17:27,160 --> 00:17:29,359 Speaker 1: isn't likely to be in the mood to compromise when 313 00:17:29,480 --> 00:17:33,240 Speaker 1: Johnson appears weakened, and if the EU retaliates with a 314 00:17:33,280 --> 00:17:35,400 Speaker 1: trade war, it's only going to add to the cost 315 00:17:35,440 --> 00:17:38,480 Speaker 1: of living crisis in Britain. Oh, there are so many 316 00:17:38,560 --> 00:17:41,760 Speaker 1: different angles to this, and you mentioned the European Union, 317 00:17:41,840 --> 00:17:44,600 Speaker 1: So what is that response likely to be? What moves 318 00:17:44,720 --> 00:17:47,400 Speaker 1: could they make in response to this? Well, the EU 319 00:17:47,600 --> 00:17:50,800 Speaker 1: said that if Johnson unilaterally rips up the Northern Island 320 00:17:50,840 --> 00:17:55,040 Speaker 1: Protocol then British scientists will be locked out of this 321 00:17:55,520 --> 00:18:00,600 Speaker 1: Horizon europe Research project, and the UK Scienceman has gone 322 00:18:00,640 --> 00:18:03,720 Speaker 1: to Brussels today to try and rescue those programs because 323 00:18:03,760 --> 00:18:06,520 Speaker 1: he says they're nothing to do with the Brexit trade deal. 324 00:18:06,880 --> 00:18:10,040 Speaker 1: And then in terms of individual member states, Ireland has 325 00:18:10,080 --> 00:18:13,440 Speaker 1: accused Johnson of acting in bad faith. And don't forget 326 00:18:13,520 --> 00:18:15,840 Speaker 1: that none of this makes the prospects for a UK 327 00:18:16,080 --> 00:18:20,600 Speaker 1: US trade deal any rosier. That's another angle that I 328 00:18:20,640 --> 00:18:22,960 Speaker 1: had not even considered. Your absolutely right about that. So 329 00:18:23,960 --> 00:18:27,040 Speaker 1: considering all of these different angles. How far is this 330 00:18:27,280 --> 00:18:30,520 Speaker 1: bill expected to get would it even make it through? Well, 331 00:18:30,600 --> 00:18:33,920 Speaker 1: it's going to be a huge uphill battle. It could 332 00:18:33,920 --> 00:18:36,160 Speaker 1: be presented to the House of Commond as soon as tomorrow, 333 00:18:36,600 --> 00:18:39,440 Speaker 1: as I say, the delays would underscore Johnson's weakness, but 334 00:18:39,760 --> 00:18:43,040 Speaker 1: it wouldn't likely enter law until next year because it 335 00:18:43,119 --> 00:18:45,280 Speaker 1: needs to also pass through the upper chamber, the House 336 00:18:45,359 --> 00:18:48,320 Speaker 1: of Lords, where it will face even more opposition because 337 00:18:48,320 --> 00:18:52,000 Speaker 1: it's a little more pro eu in there. So let's 338 00:18:52,040 --> 00:18:54,159 Speaker 1: get into the tax news from Rishie soonak is this 339 00:18:54,640 --> 00:18:57,239 Speaker 1: Rishie making his fitch to take over that top job. 340 00:18:57,280 --> 00:18:59,880 Speaker 1: We've got about a half a minute here, Yeah, well sooner. 341 00:19:00,000 --> 00:19:02,680 Speaker 1: It is promising to cut taxes his next budget in 342 00:19:02,720 --> 00:19:05,720 Speaker 1: the autumn. It focuses on businesses. The question is whether 343 00:19:05,760 --> 00:19:08,480 Speaker 1: there's going to be more help for households in the 344 00:19:08,520 --> 00:19:11,479 Speaker 1: form of personal tax cuts. But there's always a benefit 345 00:19:11,560 --> 00:19:14,200 Speaker 1: for any wanna be Tory leader to appearing to be 346 00:19:14,280 --> 00:19:17,000 Speaker 1: the tax cutting out to Margaret Thatcher. But given he's 347 00:19:17,600 --> 00:19:20,720 Speaker 1: already introduced a wind full tax on energy companies, he's 348 00:19:20,760 --> 00:19:24,240 Speaker 1: got a lot of ground to claw back on that front. 349 00:19:25,200 --> 00:19:27,280 Speaker 1: All Right, we're gonna be watching this with you, Lizzie, 350 00:19:27,320 --> 00:19:30,159 Speaker 1: Thank you so much. Bloomberg's that Lizzie Burden joining us 351 00:19:30,320 --> 00:19:34,760 Speaker 1: live from London, talking about Boris Johnson's latest move trying 352 00:19:34,800 --> 00:19:38,400 Speaker 1: to move on Brexit and and possibly tear out parts 353 00:19:38,400 --> 00:19:41,080 Speaker 1: of that deal. We're watching it with you. Checking the 354 00:19:41,119 --> 00:19:44,440 Speaker 1: markets now. SMP futures down at twenty, Dow futures down 355 00:19:44,480 --> 00:19:48,040 Speaker 1: one seventy two, NASDAC features down fifty five. Much more 356 00:19:48,119 --> 00:19:50,560 Speaker 1: stealth to come on Bloomberg Daybreak. We'll check more markets 357 00:19:50,560 --> 00:19:53,120 Speaker 1: and bringing the latest news in business, economics and finance. 358 00:19:53,720 --> 00:20:07,560 Speaker 1: This is Bloomberg. Bloomberg Daybreak, brought to you by the 359 00:20:07,600 --> 00:20:10,600 Speaker 1: Jewish Communal Fund j c F. Stoner Advised Fund is 360 00:20:10,640 --> 00:20:13,440 Speaker 1: the smart choice to manage your philanthropy, especially in times 361 00:20:13,440 --> 00:20:16,520 Speaker 1: of crisis. Make your giving impactful. Visit j c F 362 00:20:16,680 --> 00:20:24,879 Speaker 1: n y dot org. Broadcasting live from the Bloomberg Interactive 363 00:20:24,960 --> 00:20:28,800 Speaker 1: Broker Studio in New York. Bloomberg E Living Freon to Washington, 364 00:20:28,880 --> 00:20:32,960 Speaker 1: d C, Bloomberg to Boston, Bloomberg one O six one 365 00:20:33,119 --> 00:20:36,560 Speaker 1: to San Francisco, Bloomberg Num sixteen to the country Sirius 366 00:20:36,720 --> 00:20:39,119 Speaker 1: XM chad A one nine teen and around the globe. 367 00:20:39,200 --> 00:20:43,200 Speaker 1: The Bloomberg Business and Bloomberg Radio dot com. This is 368 00:20:43,240 --> 00:20:52,800 Speaker 1: Bloomberg Daybreak. It's six thirty on Wall Street. Good Wednesday morning. 369 00:20:52,880 --> 00:20:55,400 Speaker 1: I'm Amy Morris and I'm Nathan Hager. We're just about 370 00:20:55,440 --> 00:20:57,440 Speaker 1: three hours away from the open of US training. Time 371 00:20:57,480 --> 00:20:59,240 Speaker 1: for the five Things you need to know to start 372 00:20:59,320 --> 00:21:02,560 Speaker 1: your day, brought to you by Interactive Brokers. Investment Advisors 373 00:21:02,600 --> 00:21:05,560 Speaker 1: switched to Interactive Brokers for lowest cost global training and 374 00:21:05,600 --> 00:21:08,920 Speaker 1: turnkey custody solutions, no ticket charges and no conflicts of 375 00:21:09,000 --> 00:21:11,840 Speaker 1: your interests at i b k R dot com slash 376 00:21:12,000 --> 00:21:15,160 Speaker 1: r I a of first results from some key primary races. 377 00:21:15,280 --> 00:21:18,880 Speaker 1: Last night, Democratic representative Karen Bass and billionaire developer Rick 378 00:21:18,920 --> 00:21:22,040 Speaker 1: Caruso breezed past a large field of rivals looking to 379 00:21:22,119 --> 00:21:24,359 Speaker 1: be the next mayor of Los Angeles. They advanced to 380 00:21:24,440 --> 00:21:27,360 Speaker 1: a runoff election in November. The winner will replace outgoing 381 00:21:27,440 --> 00:21:31,199 Speaker 1: Mayor Eric Garcetti. And San Francisco residents voted to recall 382 00:21:31,320 --> 00:21:35,480 Speaker 1: progressive district Attorney Chase of Booting. Booting tried to reform 383 00:21:35,560 --> 00:21:38,239 Speaker 1: the criminal justice system, and critics accused him of being 384 00:21:38,320 --> 00:21:42,360 Speaker 1: too soft on crime. We've made mistakes, We've learned a lot, 385 00:21:43,280 --> 00:21:48,320 Speaker 1: and I am so unbelievably appreciative about those voting favor 386 00:21:48,359 --> 00:21:51,439 Speaker 1: to Austin Bootine. He'll be replaced by an interim district 387 00:21:51,480 --> 00:21:54,600 Speaker 1: attorney chosen by Mayor London. Breed will have the latest 388 00:21:54,720 --> 00:21:57,240 Speaker 1: on the New Jersey primaries. Just a minute, all right, Amy, 389 00:21:57,320 --> 00:21:59,840 Speaker 1: But first, in UK politics, Bloomberg News has learned Prime 390 00:21:59,880 --> 00:22:02,359 Speaker 1: in Sir Boris Johnson will go ahead with legislation to 391 00:22:02,480 --> 00:22:05,400 Speaker 1: override parts of the Brexit deal that risks in flaming 392 00:22:05,480 --> 00:22:08,720 Speaker 1: tensions with members of his Conservative Party and the European Union. 393 00:22:09,040 --> 00:22:12,080 Speaker 1: Turning to the market's US futures lower following back to 394 00:22:12,119 --> 00:22:15,359 Speaker 1: back games for the SMB five In Europe, shares of 395 00:22:15,440 --> 00:22:18,840 Speaker 1: Credit Suite are down almost five percent. The Swiss Lander 396 00:22:18,920 --> 00:22:21,560 Speaker 1: expects a loss at the group wide level and investment 397 00:22:21,600 --> 00:22:24,800 Speaker 1: bank in the second quarter, and there's no uncertainty this morning, Amy, 398 00:22:24,880 --> 00:22:28,600 Speaker 1: surrounding the Elon Musk Twitter deal. Bloomberg's Ranita Young joins 399 00:22:28,720 --> 00:22:32,080 Speaker 1: US Live with more on that. Good morning, Ranita, Good morning, Nathan. 400 00:22:32,200 --> 00:22:34,879 Speaker 1: Elon Musk's attempts to get new funding to take Twitter 401 00:22:35,000 --> 00:22:38,199 Speaker 1: private are now on hold, and it's because of uncertainty 402 00:22:38,280 --> 00:22:41,800 Speaker 1: surrounding the deal. That's according to Reuters who reports conversations 403 00:22:41,840 --> 00:22:45,800 Speaker 1: have halted with private equity firms, including Apollo Global Management, 404 00:22:46,200 --> 00:22:49,199 Speaker 1: until there's clarity about the future of the acquisition. Now 405 00:22:49,240 --> 00:22:51,360 Speaker 1: Musk has been trying to reduce his thirty three point 406 00:22:51,440 --> 00:22:54,639 Speaker 1: five billion dollar cash contribution to the forty four billion 407 00:22:54,680 --> 00:22:58,960 Speaker 1: dollar deal by preferred equity financing. Meantime, He's also threatened 408 00:22:59,000 --> 00:23:01,840 Speaker 1: to back away from a deal if Twitter cannot prove 409 00:23:01,960 --> 00:23:04,840 Speaker 1: less than five percent of its users or bots live 410 00:23:04,920 --> 00:23:07,200 Speaker 1: in New York. I'm gonna need a young Bloomberg day break. 411 00:23:07,280 --> 00:23:08,520 Speaker 1: All right, We need to thank you, and that's the 412 00:23:08,600 --> 00:23:10,440 Speaker 1: five things you need to know to start your day, 413 00:23:10,480 --> 00:23:14,280 Speaker 1: brought to you by Interactive Brokers. Futures moving lower. We 414 00:23:14,359 --> 00:23:17,239 Speaker 1: got SMP futures downtown twenty one point, staff futures down 415 00:23:17,240 --> 00:23:19,840 Speaker 1: a D eighty NASTAC futures lower by fifty seven points. 416 00:23:19,880 --> 00:23:22,879 Speaker 1: Those are drops of a half percent across the board 417 00:23:23,200 --> 00:23:26,399 Speaker 1: for equity futures. Send your treasuries down nine thirty seconds 418 00:23:26,440 --> 00:23:28,320 Speaker 1: for yield of three percent. Yield on the two year 419 00:23:28,400 --> 00:23:31,120 Speaker 1: two point seven four percent, straight ahead your latest local 420 00:23:31,200 --> 00:23:39,239 Speaker 1: headlines in the check of sports. This is Bloomberg, all right, 421 00:23:39,280 --> 00:23:41,920 Speaker 1: Thank you. Nathan sixty three now on Wall Street. Let's 422 00:23:41,920 --> 00:23:43,879 Speaker 1: bring in Michael bar to tell us what else is 423 00:23:43,960 --> 00:23:46,879 Speaker 1: going on in New York and around the world. Good morning, Michael, 424 00:23:47,280 --> 00:23:49,800 Speaker 1: Good morning Amy. A dozen US House seats are being 425 00:23:49,800 --> 00:23:52,719 Speaker 1: contested in New Jersey. There were several GOP candidates who 426 00:23:52,920 --> 00:23:55,880 Speaker 1: followed Donald Trump's brand. However, in New Jersey, only two 427 00:23:56,640 --> 00:23:59,119 Speaker 1: out of the twelve member delegation are Republicans. In the 428 00:23:59,160 --> 00:24:01,679 Speaker 1: second district in come At, Jeff Andrew won the GOP 429 00:24:01,840 --> 00:24:04,920 Speaker 1: primary with eight six percent. And Andrew will face Democrat 430 00:24:05,000 --> 00:24:09,440 Speaker 1: Tim Alexander got In the fourth district, incumbent Republican and 431 00:24:09,520 --> 00:24:12,320 Speaker 1: Chris Smith one with eight percent of the vote. Smith 432 00:24:12,359 --> 00:24:15,760 Speaker 1: will face Democrat Matthew Jenkins, who ran unopposed. New York 433 00:24:15,840 --> 00:24:19,000 Speaker 1: lawmakers called on the Chelsea Piers Entertainment Center to cancel 434 00:24:19,040 --> 00:24:22,159 Speaker 1: an upcoming event that includes Florida government around the Santis, 435 00:24:22,520 --> 00:24:25,400 Speaker 1: saying his parents would be an insult to the city's 436 00:24:25,640 --> 00:24:29,760 Speaker 1: LGBTQ community. The House Oversight Committee is set to here 437 00:24:29,800 --> 00:24:33,240 Speaker 1: testimony today from survivors of mass shootings and the families 438 00:24:33,240 --> 00:24:36,920 Speaker 1: of victims. Senate Minority Leader Mitch McConnell is privately expressed 439 00:24:36,960 --> 00:24:39,679 Speaker 1: in openness to raising the age limit to buy an 440 00:24:39,720 --> 00:24:43,280 Speaker 1: assault rifle from eighteen to twenty one, but McConnell has 441 00:24:43,359 --> 00:24:46,480 Speaker 1: not pushed for any specific policy. Is way too soon 442 00:24:46,560 --> 00:24:49,040 Speaker 1: to start predicting how many are going to vote for it. 443 00:24:49,200 --> 00:24:52,320 Speaker 1: We don't have an agreement yet, and so I don't 444 00:24:52,320 --> 00:24:55,000 Speaker 1: want to speculate about how many of my members might 445 00:24:55,320 --> 00:24:58,879 Speaker 1: support it. McConnell has not publicly said where he stands 446 00:24:58,920 --> 00:25:02,520 Speaker 1: on raising the age requirement. Majority Leader Chuck Schumer says 447 00:25:02,600 --> 00:25:05,480 Speaker 1: he expects a vote in the near future. Democrats are 448 00:25:05,560 --> 00:25:09,399 Speaker 1: ready to take good, strong action, and every member of 449 00:25:09,520 --> 00:25:12,200 Speaker 1: this Chamber is going to have to answer the question, 450 00:25:12,760 --> 00:25:17,520 Speaker 1: can we actually get something real done? Senator Schumer says 451 00:25:17,560 --> 00:25:20,840 Speaker 1: they need ten Republicans to vote for approval. Mr Matthew 452 00:25:20,920 --> 00:25:23,720 Speaker 1: McConaughey is calling from Washington, d See to make changes 453 00:25:23,760 --> 00:25:26,520 Speaker 1: to gun laws. He spoke to White House reporters, calling 454 00:25:26,520 --> 00:25:30,240 Speaker 1: out any legislators who are hedging on change. Can both 455 00:25:30,520 --> 00:25:34,080 Speaker 1: sides see beyond the political problem at hand and admit 456 00:25:34,560 --> 00:25:37,600 Speaker 1: that we have a life preservation problem on our hands. 457 00:25:38,000 --> 00:25:41,119 Speaker 1: Matthew McConaughey, a native of you Valdi, Texas, visited his 458 00:25:41,200 --> 00:25:43,879 Speaker 1: hometown the day after the massacre in an elementary school 459 00:25:43,960 --> 00:25:47,360 Speaker 1: that left nineteen children and two of their teachers dead. 460 00:25:47,880 --> 00:25:51,080 Speaker 1: The mayor of East Rutherford, New Jersey says the American 461 00:25:51,200 --> 00:25:55,520 Speaker 1: Dream Mall owes the borough about six million dollars. Mayor 462 00:25:55,560 --> 00:25:59,760 Speaker 1: Jeffrey Lahollier says the five billion dollars super mall located 463 00:25:59,800 --> 00:26:03,399 Speaker 1: in Meadowlands Sports Complex has failed to make payments in 464 00:26:03,520 --> 00:26:06,920 Speaker 1: lieu of property taxes. Global News twenty four hours a 465 00:26:07,040 --> 00:26:09,879 Speaker 1: day on air and on Bloomberg Quick Take, powered by 466 00:26:09,960 --> 00:26:12,440 Speaker 1: more than seven hundred journalists and analysts more than a 467 00:26:12,520 --> 00:26:15,919 Speaker 1: hundred twenty countries. Michael bar this is Bloomberg Gaming. All right, 468 00:26:15,960 --> 00:26:21,440 Speaker 1: Thank you, Michael six on Wall Street Time Now for 469 00:26:21,520 --> 00:26:24,600 Speaker 1: the Bloomberg Sports update. Here's John stash Our Sady home 470 00:26:24,680 --> 00:26:26,280 Speaker 1: ice kids sin used to mean a lot of the 471 00:26:26,320 --> 00:26:29,160 Speaker 1: Stanley Cup. Last Rangers played that series with Carolina where 472 00:26:29,160 --> 00:26:31,560 Speaker 1: the road team didn't win until Game seven. The Hurricanes 473 00:26:31,600 --> 00:26:33,520 Speaker 1: had played in an earlier series with Boston where the 474 00:26:33,560 --> 00:26:35,640 Speaker 1: home team won all seven and now four games into 475 00:26:35,640 --> 00:26:39,600 Speaker 1: the East Finals, Rangers in Tampa Bay tied into both, 476 00:26:39,680 --> 00:26:41,800 Speaker 1: winning twice at home. Game four or they go over 477 00:26:41,840 --> 00:26:45,240 Speaker 1: the Lightnings pat maroon and then second period Tampa stored again. 478 00:26:45,280 --> 00:26:47,840 Speaker 1: Good Brow the other way, bounces it to the lightning line, 479 00:26:48,400 --> 00:26:50,640 Speaker 1: quick up, root up for work, a lot up the middle, 480 00:26:50,680 --> 00:26:54,919 Speaker 1: coup drop, maybe a step in front hole shoot up 481 00:26:58,400 --> 00:27:00,640 Speaker 1: f l a Stephen Stamp Coast School. A third period 482 00:27:00,720 --> 00:27:02,600 Speaker 1: late goal for the Rangers are Timmy Panerin on the 483 00:27:02,640 --> 00:27:05,200 Speaker 1: power player. The Rangers have gone eighty six minutes without 484 00:27:05,240 --> 00:27:07,840 Speaker 1: a goal. Andre Pelotte empty it at the end. Tampa 485 00:27:07,880 --> 00:27:11,200 Speaker 1: Bay won four one thirty four stays for Andre b Celeski. 486 00:27:11,280 --> 00:27:14,040 Speaker 1: The Rangers hoping the home cooking continues. If they keep 487 00:27:14,040 --> 00:27:15,600 Speaker 1: winning at the Garden, where they've won eight in a row, 488 00:27:15,600 --> 00:27:19,040 Speaker 1: they'll win the series. Game five tomorrow. NBA Finals Game 489 00:27:19,080 --> 00:27:22,239 Speaker 1: three tonight in Boston, Celtics and Warriors tied at one 490 00:27:22,320 --> 00:27:25,200 Speaker 1: other Yankee win their forty seventh in a row ten 491 00:27:25,320 --> 00:27:28,000 Speaker 1: four at Minnesota. Three Yankee home runs Aaron Judge, John 492 00:27:28,080 --> 00:27:31,359 Speaker 1: Carlos Stanton, Anthony Rizzo, and two hits each from the 493 00:27:31,440 --> 00:27:34,400 Speaker 1: two Yanks who have struggled mightily all season, Aaron Hicks 494 00:27:34,440 --> 00:27:37,000 Speaker 1: and Joey Gallow only two hits all night for the Mets. 495 00:27:37,320 --> 00:27:39,800 Speaker 1: They lost in San Diego seven and nothing. The Padres 496 00:27:39,880 --> 00:27:42,080 Speaker 1: led for nothing by the second A name view Darvish 497 00:27:42,480 --> 00:27:45,080 Speaker 1: Et Taiwan. Welcome. Dustin Johnson and phil Miicholson get ready 498 00:27:45,119 --> 00:27:47,280 Speaker 1: played in London that they viewed the new Live Golf Tour. 499 00:27:47,400 --> 00:27:50,119 Speaker 1: Boat will then play the US Open next week near Boston, 500 00:27:50,160 --> 00:27:52,960 Speaker 1: but Tiger would skipping the US Open since his body 501 00:27:53,359 --> 00:27:55,480 Speaker 1: and he's time to heal. Tiger hopes to play the 502 00:27:55,560 --> 00:27:59,919 Speaker 1: British Open next month. John Stashwar, Bloomberg Sports Team. All right, 503 00:28:00,040 --> 00:28:02,560 Speaker 1: thank you, John. It is sixty seven on Wall Street. 504 00:28:02,920 --> 00:28:04,720 Speaker 1: Time to take a look at stocks and some of 505 00:28:04,760 --> 00:28:06,720 Speaker 1: the names that are moving in the pre market. And 506 00:28:06,840 --> 00:28:09,760 Speaker 1: for that we're joined by Bloomberg Radio and TV Markets 507 00:28:09,800 --> 00:28:13,200 Speaker 1: correspondent Crety Goopta Creaty. Good morning to you. Good morning Amy. 508 00:28:13,320 --> 00:28:15,200 Speaker 1: Let's just dive right in here. There's so much to 509 00:28:15,280 --> 00:28:16,920 Speaker 1: get there, so I'm gonna speed through. Bear with me. 510 00:28:17,240 --> 00:28:19,119 Speaker 1: I want to start with some of those Chinese A 511 00:28:19,240 --> 00:28:22,080 Speaker 1: d rs the U S listed companies here. Uh, things 512 00:28:22,119 --> 00:28:24,720 Speaker 1: like Ali, Baba, j D, dot Com, Pinduo, Duo Bay 513 00:28:24,760 --> 00:28:28,320 Speaker 1: do all up significantly this morning. This comes after China 514 00:28:28,400 --> 00:28:31,679 Speaker 1: approved a second batch of video games this year, providing 515 00:28:31,760 --> 00:28:34,680 Speaker 1: a signal of policy support to the country's internet sector. 516 00:28:34,760 --> 00:28:37,040 Speaker 1: This is so important because we know a lot of 517 00:28:37,119 --> 00:28:40,720 Speaker 1: these companies haven't actually gotten that support from from the 518 00:28:41,000 --> 00:28:43,760 Speaker 1: Chinese administration. They are starting to get a little bit 519 00:28:43,800 --> 00:28:45,640 Speaker 1: more of ease, and the idea here being then if 520 00:28:45,720 --> 00:28:48,240 Speaker 1: you have this regulatory crackdown, which is by the way, 521 00:28:48,640 --> 00:28:52,120 Speaker 1: hurt stocks to know some seventy from their peak last year, 522 00:28:52,720 --> 00:28:55,680 Speaker 1: how much of kind of investor buying are you going 523 00:28:55,760 --> 00:28:57,480 Speaker 1: to get from around the world. That's been a major 524 00:28:57,600 --> 00:28:59,800 Speaker 1: question for a lot of these companies that have a 525 00:29:00,000 --> 00:29:02,040 Speaker 1: really suffered that regular choice scrutiny. Now it looks like 526 00:29:02,160 --> 00:29:04,280 Speaker 1: China is trying to make those steps to be a 527 00:29:04,320 --> 00:29:06,120 Speaker 1: little bit more progressive, at least when it comes to 528 00:29:06,240 --> 00:29:08,840 Speaker 1: internet companies and the scrutiny there. So you do have 529 00:29:09,040 --> 00:29:11,640 Speaker 1: on the back of that report us the likes of 530 00:29:11,640 --> 00:29:14,200 Speaker 1: Ali Baba, for example, be a b as your taker. 531 00:29:14,280 --> 00:29:16,280 Speaker 1: The shares are up five percent in the pre market 532 00:29:16,640 --> 00:29:18,680 Speaker 1: j D as well. The taker is just the letter 533 00:29:18,800 --> 00:29:21,200 Speaker 1: j D up about four point two percent, Pin Doo 534 00:29:21,320 --> 00:29:23,280 Speaker 1: doo this of course the e commerce company p d 535 00:29:23,480 --> 00:29:26,280 Speaker 1: D up about six percent, and by do b i 536 00:29:26,520 --> 00:29:29,000 Speaker 1: d U up three percent. Now, no, not all of 537 00:29:29,080 --> 00:29:33,240 Speaker 1: these companies are actually have of a stake in video games, 538 00:29:33,320 --> 00:29:35,400 Speaker 1: but the idea that they China did to prove that 539 00:29:35,440 --> 00:29:37,160 Speaker 1: second batch is kind of the scene as a signal 540 00:29:37,280 --> 00:29:40,160 Speaker 1: a proxy of Internet scrutiny. Broadly, let's stick with the 541 00:29:40,200 --> 00:29:42,360 Speaker 1: tech theme here and talk about Intel. I n tc 542 00:29:42,600 --> 00:29:45,040 Speaker 1: S your ticker down three point three percent. This comes 543 00:29:45,040 --> 00:29:47,760 Speaker 1: after City lowered their estimates on the chip maker after 544 00:29:47,840 --> 00:29:51,360 Speaker 1: the company's management mentioned at a conference that the circumstances 545 00:29:51,400 --> 00:29:54,400 Speaker 1: are worse than expected during the quarter. A similar theme. 546 00:29:54,440 --> 00:29:56,160 Speaker 1: When you look at all Tree a group, m O 547 00:29:56,480 --> 00:29:59,040 Speaker 1: is your taker. This of course the maker of cigarettes 548 00:29:59,080 --> 00:30:02,040 Speaker 1: and other tobacco p next down about three percent, Morgan 549 00:30:02,120 --> 00:30:06,320 Speaker 1: Stanley downgrading it to an underweight, citing increasing macro pressures 550 00:30:06,360 --> 00:30:09,800 Speaker 1: and competitive risks. Super important cigarette companies are kind of 551 00:30:09,800 --> 00:30:12,120 Speaker 1: seen as defensive stock that even in the worst of times, 552 00:30:12,160 --> 00:30:14,880 Speaker 1: even if there's a recession, UH smokers are going to 553 00:30:14,960 --> 00:30:18,200 Speaker 1: still buy cigarettes simply because of the addiction. That makes 554 00:30:18,240 --> 00:30:20,400 Speaker 1: it a defensive stock. So to see a downgrade from 555 00:30:20,400 --> 00:30:22,720 Speaker 1: a major Wall Street firm is a huge deal. M 556 00:30:22,800 --> 00:30:24,920 Speaker 1: O once against your taker down about three percent. And 557 00:30:24,920 --> 00:30:27,480 Speaker 1: I'm gonna end here with Nova Vacs. We haven't talked 558 00:30:27,520 --> 00:30:29,600 Speaker 1: about COVID news in a while, but this is important. 559 00:30:30,120 --> 00:30:32,440 Speaker 1: N v a X is your taker. The shares are 560 00:30:32,520 --> 00:30:35,120 Speaker 1: up about eighteen percent in the pre market worrip as 561 00:30:35,200 --> 00:30:39,080 Speaker 1: much as this comes after the company's coronavirus vaccine one 562 00:30:39,160 --> 00:30:42,120 Speaker 1: support from an f d A advisory panel, So you 563 00:30:42,200 --> 00:30:45,400 Speaker 1: are still seeing more and more people come to market 564 00:30:45,560 --> 00:30:49,680 Speaker 1: with those vaccines. Alright, Bloomberg Radio and TV Markets correspondent 565 00:30:49,720 --> 00:30:51,720 Speaker 1: Crety Coopta always a pleasure. Thank you so much for 566 00:30:51,840 --> 00:30:54,920 Speaker 1: joining us, Crety and looking at stocks as a whole 567 00:30:55,000 --> 00:30:59,320 Speaker 1: ahead of the open. SNP futures down eighteen down, futures 568 00:30:59,400 --> 00:31:03,240 Speaker 1: down one fifty nine, nastac features down forty six. Ten 569 00:31:03,400 --> 00:31:06,600 Speaker 1: year price down twelve thirty seconds with a yield of 570 00:31:06,720 --> 00:31:09,520 Speaker 1: three point oh two. Much more still to come. On 571 00:31:09,600 --> 00:31:12,600 Speaker 1: this Wednesday morning edition of Bloomberg Daybreak. Stay with us. 572 00:31:13,080 --> 00:31:24,600 Speaker 1: This is Bloomberg Bloomberg eleven three oh Weather today, maybe 573 00:31:24,680 --> 00:31:27,440 Speaker 1: an early shower, partly the mostly sunny otherwise conn of 574 00:31:27,480 --> 00:31:29,760 Speaker 1: breezy going up to eighty five, going up to eighty 575 00:31:29,840 --> 00:31:32,920 Speaker 1: with showers tomorrow and then sunshine on Friday, going up 576 00:31:32,960 --> 00:31:39,880 Speaker 1: to eighty degrees. Markets headlines and breaking news twenty four 577 00:31:39,960 --> 00:31:42,960 Speaker 1: hours a day at Bloomberg dot Com of Bloomberg Business 578 00:31:43,000 --> 00:31:53,160 Speaker 1: at and at Bloomberg Victape. He's a Bloomberg Business Flash Morning. 579 00:31:53,160 --> 00:31:55,120 Speaker 1: I'm Nathan Hagar. This updates brought to you by pe 580 00:31:55,280 --> 00:31:58,480 Speaker 1: Pack Private Wealth. Management of portfolio is more than a 581 00:31:58,560 --> 00:32:01,040 Speaker 1: collection of assets, It's a path to your future. Visit 582 00:32:01,160 --> 00:32:05,640 Speaker 1: p pack Private dot com futures moving lower. Let's go 583 00:32:05,800 --> 00:32:07,400 Speaker 1: right over to the first from breaking news desk for 584 00:32:07,440 --> 00:32:10,960 Speaker 1: today's morning call with Bill Maloney. Bill, Good morning, Hey, 585 00:32:11,120 --> 00:32:13,360 Speaker 1: good morning, Nathan. That's right. US futures are in the 586 00:32:13,440 --> 00:32:15,280 Speaker 1: red right now at death futures down a hundred and 587 00:32:15,360 --> 00:32:17,680 Speaker 1: fifty points says to be shrop seventeen and as the 588 00:32:17,800 --> 00:32:20,880 Speaker 1: futures are lower by thirty nine v us a ten 589 00:32:20,960 --> 00:32:23,720 Speaker 1: year old at three percent. Gold is down four Oil 590 00:32:23,800 --> 00:32:26,480 Speaker 1: is trading higher, but bitcoin is down by two point 591 00:32:26,600 --> 00:32:29,720 Speaker 1: nine percent. Hong Kong rose two point two percent overnight, 592 00:32:29,800 --> 00:32:32,240 Speaker 1: while up markets are in the red, led by losses 593 00:32:32,280 --> 00:32:34,680 Speaker 1: in France and Germany. Back in the US. On the 594 00:32:34,760 --> 00:32:38,440 Speaker 1: economic front, at ten o'clock, Hostale inventories and in other news, 595 00:32:38,600 --> 00:32:41,560 Speaker 1: Credit Sweet said a slump at its investment bank will 596 00:32:41,640 --> 00:32:44,760 Speaker 1: lead to a third straight quarterly loss. In deal news, 597 00:32:44,840 --> 00:32:47,640 Speaker 1: Western Digital will consider splitting up its flash and hard 598 00:32:47,720 --> 00:32:51,000 Speaker 1: drive businesses and wrapping things up all Trio was downgraded 599 00:32:51,040 --> 00:32:54,600 Speaker 1: to underweight. Over at Morgan Stanley Live from the first 600 00:32:54,680 --> 00:32:57,560 Speaker 1: Breaking News DOSC on Bill Maloney. Nathan, Okay, Bill, thanks 601 00:32:57,680 --> 00:33:00,760 Speaker 1: to get live breaking news over your Bloomberg's Squawk on 602 00:33:00,840 --> 00:33:04,760 Speaker 1: the terminal s q U A go, that's Bloomberg business splash. 603 00:33:04,800 --> 00:33:06,560 Speaker 1: Now Here's Michael Barr with more on Let's stilling on 604 00:33:06,640 --> 00:33:10,000 Speaker 1: a round the world. Michael Nathan, thank you very much. Victims, 605 00:33:10,080 --> 00:33:13,240 Speaker 1: families and survivors of the Uvaldi and Buffalo mass shootings 606 00:33:13,280 --> 00:33:16,000 Speaker 1: are in Washington, d C. Today from multiple hearings to 607 00:33:16,080 --> 00:33:19,160 Speaker 1: call on Congress to act on gun reform. And I 608 00:33:19,560 --> 00:33:23,480 Speaker 1: are retired Navy Admiral. Democrat Mike Franken will challenge Republican 609 00:33:23,520 --> 00:33:27,000 Speaker 1: Senator Chuck grass Le's re election this fall after winning 610 00:33:27,040 --> 00:33:31,440 Speaker 1: his party's nomination over two competitors. In the NHL East Final, 611 00:33:31,720 --> 00:33:34,800 Speaker 1: Rangers lost to the Lightning for one. The series outside 612 00:33:34,800 --> 00:33:37,560 Speaker 1: the two games Apiece and Baseball the Yankees one. The 613 00:33:37,640 --> 00:33:40,080 Speaker 1: Mets lost, the Red Sox and the Orioles were winners. 614 00:33:40,280 --> 00:33:43,719 Speaker 1: The Nationals lost along with the A's and Giants. Global 615 00:33:43,800 --> 00:33:46,120 Speaker 1: News twenty four hours a day on air and on 616 00:33:46,200 --> 00:33:49,960 Speaker 1: Bloomberg Quicktake Power by more than twenty seven hundred journalists 617 00:33:49,960 --> 00:33:52,920 Speaker 1: and analysts more than a hundred twenty countries. I'm Michael Barr, 618 00:33:52,960 --> 00:33:55,880 Speaker 1: and this is Bloomberg Amy. All right, thank you, Michael. 619 00:33:55,920 --> 00:33:59,040 Speaker 1: We're live from the Bloomberg Interactive Broker's studios where it 620 00:33:59,160 --> 00:34:02,120 Speaker 1: is six and on Wall Street time now to check 621 00:34:02,280 --> 00:34:04,560 Speaker 1: what is going on in d C. Some of the 622 00:34:04,640 --> 00:34:08,000 Speaker 1: top stories in our nation's capitol include gun talks. They 623 00:34:08,080 --> 00:34:13,040 Speaker 1: continue on Capitol Hill, both sides maybe approaching a compromise. Also, 624 00:34:13,120 --> 00:34:16,040 Speaker 1: we've seen a small burst of bipartisanship in the House 625 00:34:16,120 --> 00:34:19,920 Speaker 1: as lawmakers are working on some health and water infrastructure issues. 626 00:34:20,440 --> 00:34:22,480 Speaker 1: And then there is the war in Ukraine. There is 627 00:34:22,560 --> 00:34:25,000 Speaker 1: more eight on the way. We're also watching how they're 628 00:34:25,040 --> 00:34:28,400 Speaker 1: working to get those grain exports going again. And to 629 00:34:28,480 --> 00:34:30,680 Speaker 1: talk about all of this and more, we welcome back 630 00:34:30,840 --> 00:34:34,680 Speaker 1: Bloomberg Government reporter Emily Wilkins. Emily, let's start with those 631 00:34:34,719 --> 00:34:37,920 Speaker 1: negotiations over gun control measures on Capitol Hill. Where do 632 00:34:38,040 --> 00:34:41,000 Speaker 1: they stand now? So right now, really we're all just 633 00:34:41,120 --> 00:34:44,480 Speaker 1: looking to the Senate where you've seen Democratic Senator Chris 634 00:34:44,600 --> 00:34:48,239 Speaker 1: Murphy Republicans Senator John Cornyn. Really trying to work out 635 00:34:48,320 --> 00:34:51,320 Speaker 1: an agreement that actually can get the ten Republican votes 636 00:34:51,400 --> 00:34:54,520 Speaker 1: needed to pass in the Senate um and Senator John 637 00:34:54,560 --> 00:34:56,839 Speaker 1: Cornyon says, really, any bill has got to be narrow. 638 00:34:57,120 --> 00:35:00,080 Speaker 1: We're talking no new restrictions on guns and really no 639 00:35:00,239 --> 00:35:04,719 Speaker 1: changes for current law abiding gun owners. We have heard 640 00:35:04,719 --> 00:35:07,360 Speaker 1: a lot of talk about those so called red flag 641 00:35:07,480 --> 00:35:10,600 Speaker 1: laws and potentially looking at legislation that would offer a 642 00:35:10,719 --> 00:35:13,880 Speaker 1: grant to states that are interested in implementing those, and 643 00:35:14,120 --> 00:35:17,200 Speaker 1: those are our laws that basically say, um, if you 644 00:35:17,520 --> 00:35:19,440 Speaker 1: you know, have a family member or someone in your 645 00:35:19,480 --> 00:35:22,520 Speaker 1: community who you know who is acting erratic and you're 646 00:35:22,560 --> 00:35:25,160 Speaker 1: concerned that they might hurt themselves or others, you can 647 00:35:25,239 --> 00:35:28,520 Speaker 1: get a temporary order that would allow guns to either 648 00:35:28,600 --> 00:35:31,000 Speaker 1: be removed from them or prevent them from buying guns. 649 00:35:31,040 --> 00:35:33,200 Speaker 1: That of course, there there'd be a due process element 650 00:35:33,280 --> 00:35:35,759 Speaker 1: as well. Matt seems to have the most momentum. A 651 00:35:35,800 --> 00:35:37,640 Speaker 1: lot of people will point out that, you know, those 652 00:35:37,640 --> 00:35:40,080 Speaker 1: are just grants, it's not even a federal law. Um. 653 00:35:40,280 --> 00:35:42,239 Speaker 1: But it's very clear at this point that if something 654 00:35:42,360 --> 00:35:44,160 Speaker 1: wants to move forward, it is going to have to 655 00:35:44,239 --> 00:35:46,680 Speaker 1: be quite narrow, because there's still is a lot of 656 00:35:46,719 --> 00:35:51,600 Speaker 1: really strong opposition from Republicans on on having these additional 657 00:35:52,200 --> 00:35:57,120 Speaker 1: restrictions on guns and gun ownership. Emily, I was reading 658 00:35:57,160 --> 00:35:59,160 Speaker 1: through some of the stories that you have on the 659 00:35:59,200 --> 00:36:03,040 Speaker 1: Bloomberg term, and one of them is about this bipartisan push, 660 00:36:03,200 --> 00:36:05,400 Speaker 1: especially for a couple of different bills. You know, the 661 00:36:05,440 --> 00:36:07,839 Speaker 1: House is like a dozen bills in process, but there 662 00:36:07,880 --> 00:36:11,200 Speaker 1: are two that are really getting some bipartisan support. Tell 663 00:36:11,280 --> 00:36:13,719 Speaker 1: us about that. Yeah, so these are two. They're kind 664 00:36:13,760 --> 00:36:17,520 Speaker 1: of wonky, but they're considered must pass legislation in Washington, 665 00:36:17,640 --> 00:36:20,360 Speaker 1: d C. Because it kind of just helps the basic 666 00:36:20,440 --> 00:36:22,640 Speaker 1: functions of government. I mean, one of these the the 667 00:36:22,800 --> 00:36:25,479 Speaker 1: f d A, uh what they half their budget comes 668 00:36:25,520 --> 00:36:27,719 Speaker 1: from user fees, and so one of these pieces of 669 00:36:27,800 --> 00:36:31,800 Speaker 1: legislation will just reauthorize their ability to collect user fees 670 00:36:31,840 --> 00:36:34,840 Speaker 1: from the drug and medical device industry. This bill is 671 00:36:34,880 --> 00:36:38,160 Speaker 1: also going to provide an express pathway to approve certain 672 00:36:38,239 --> 00:36:41,320 Speaker 1: drugs for the market quicker than they might have otherwise, 673 00:36:41,680 --> 00:36:44,000 Speaker 1: and they would of course also be able to then 674 00:36:44,120 --> 00:36:46,200 Speaker 1: pull those drugs from the market if they don't match 675 00:36:46,280 --> 00:36:50,239 Speaker 1: up with clinical trials. Um. We're also looking at legislation 676 00:36:50,440 --> 00:36:53,960 Speaker 1: on water and what and infrastructure development, these are including 677 00:36:54,000 --> 00:36:57,600 Speaker 1: things like flood control, keeping the coast intact and really amy, 678 00:36:57,640 --> 00:36:59,839 Speaker 1: if you pull back for one second, kind of why 679 00:36:59,880 --> 00:37:01,960 Speaker 1: the bills are being passed now. I mean, they do 680 00:37:02,200 --> 00:37:04,640 Speaker 1: have to regularly pass these bills, but it kind of 681 00:37:04,719 --> 00:37:08,080 Speaker 1: also shows where we are in this legislative process. Uh. 682 00:37:08,200 --> 00:37:10,400 Speaker 1: We're coming up at the end of the session, at 683 00:37:10,440 --> 00:37:12,400 Speaker 1: the end of the year. Of course, you have the 684 00:37:12,440 --> 00:37:16,040 Speaker 1: November midterm elections, and you really only have like a 685 00:37:16,200 --> 00:37:19,560 Speaker 1: few dozen days for lawmakers to get things done. And 686 00:37:19,640 --> 00:37:22,200 Speaker 1: the harder closer you get to November, the harder it becomes. 687 00:37:22,440 --> 00:37:24,680 Speaker 1: And so that's why you're seeing some of these bipartisan 688 00:37:25,080 --> 00:37:28,279 Speaker 1: must pass bills coming to the floor, House floor, um 689 00:37:28,440 --> 00:37:31,400 Speaker 1: and and getting moved through the process. Let's shift gears 690 00:37:31,440 --> 00:37:34,000 Speaker 1: just a little bit, Emily and look at the war 691 00:37:34,160 --> 00:37:36,960 Speaker 1: in Ukraine. Bring us up to speed on the latest 692 00:37:37,080 --> 00:37:39,520 Speaker 1: on aid for Ukraine. I know the World Bank has 693 00:37:39,600 --> 00:37:41,640 Speaker 1: just signed off on a big package. What else is 694 00:37:41,680 --> 00:37:44,200 Speaker 1: out there? Yeah, the World Bank just approved almost one 695 00:37:44,200 --> 00:37:48,120 Speaker 1: point five billion for Ukraine to pay government and social workers. Um. 696 00:37:48,280 --> 00:37:50,840 Speaker 1: And we also know, of course President Biden is you know, 697 00:37:50,960 --> 00:37:54,720 Speaker 1: continuing to authorize amounts of funding for Ukraine. Uh, Congress 698 00:37:55,040 --> 00:37:57,400 Speaker 1: just approved that forty billion for the White House to 699 00:37:57,480 --> 00:38:00,520 Speaker 1: be able to spend in ways that they need. Um. Obviously, 700 00:38:00,680 --> 00:38:04,920 Speaker 1: the amount that the Congress approved really shows and speaks 701 00:38:04,960 --> 00:38:07,680 Speaker 1: to the fact that this battle is expected to go 702 00:38:07,800 --> 00:38:10,520 Speaker 1: on for quite some time. No one's seen an easy 703 00:38:10,719 --> 00:38:14,640 Speaker 1: or quick end um to the Russian invasion. UM. And 704 00:38:14,719 --> 00:38:18,200 Speaker 1: you've also but you've also seen other pieces of movement. 705 00:38:18,320 --> 00:38:20,400 Speaker 1: I mean, one big thing industry that's been hit here 706 00:38:20,520 --> 00:38:22,480 Speaker 1: is the grain and the wheat. You're seeing the Russian 707 00:38:22,520 --> 00:38:26,400 Speaker 1: Foreign Minister Sergei Lavrov attending talks that might restart some 708 00:38:26,480 --> 00:38:29,480 Speaker 1: of those grain shipments out of Ukraine again. Um. And 709 00:38:29,600 --> 00:38:33,320 Speaker 1: of course oil is another big concern. The Energy Information 710 00:38:33,560 --> 00:38:38,720 Speaker 1: of Administration has estimated that next year Russian oil output 711 00:38:38,880 --> 00:38:42,000 Speaker 1: is expected to decline by eighteen percent, just kind of 712 00:38:42,080 --> 00:38:45,600 Speaker 1: adding pressure on nations like the US and its European 713 00:38:45,719 --> 00:38:48,880 Speaker 1: allies to figure out how to you know, continue to 714 00:38:48,920 --> 00:38:52,760 Speaker 1: put pressure on Russia while also making sure that energy 715 00:38:52,880 --> 00:38:56,640 Speaker 1: prices are not skyrocket skyrocketing at home. Let's talk a 716 00:38:56,680 --> 00:38:59,200 Speaker 1: little bit more about those grain shipments if you don't mind, 717 00:38:59,200 --> 00:39:00,960 Speaker 1: because I know you and has been working to get 718 00:39:01,040 --> 00:39:04,879 Speaker 1: that humanitarian cord or set up. Doesn't look like they 719 00:39:05,120 --> 00:39:07,360 Speaker 1: are very hopeful that it's actually going to hold, but 720 00:39:07,400 --> 00:39:09,400 Speaker 1: they're going to give it a try. And one of 721 00:39:09,440 --> 00:39:11,680 Speaker 1: the things they said was that there could be um 722 00:39:11,760 --> 00:39:15,200 Speaker 1: in their words, catastrophic global price increases if they're not 723 00:39:15,480 --> 00:39:18,080 Speaker 1: able to do that. I'm wondering how much urgency or 724 00:39:18,120 --> 00:39:21,359 Speaker 1: incentive that is providing to get that established. I think 725 00:39:21,400 --> 00:39:23,799 Speaker 1: there's a lot of concern because you are seeing these 726 00:39:23,880 --> 00:39:27,680 Speaker 1: shortages across the world and as you we worry, you 727 00:39:27,719 --> 00:39:29,880 Speaker 1: know in the U s about inflation. Certainly not the 728 00:39:29,920 --> 00:39:33,440 Speaker 1: only developed nation worrying about that, but it's it's because 729 00:39:33,560 --> 00:39:36,480 Speaker 1: you are seeing shortages in things like grain. So I 730 00:39:36,560 --> 00:39:39,680 Speaker 1: think there really is a lot of pressure on it. Um. 731 00:39:39,880 --> 00:39:42,799 Speaker 1: You have Turkey and Russia that did reach a tentative deal, 732 00:39:43,360 --> 00:39:45,840 Speaker 1: but you do have Ukrainian officials that they are remaining 733 00:39:45,920 --> 00:39:49,120 Speaker 1: skeptical at this point. I don't think that there's obviously 734 00:39:49,200 --> 00:39:52,040 Speaker 1: not a lot of trust between Ukraine and Russia. Are 735 00:39:52,120 --> 00:39:55,160 Speaker 1: really given the rest of the world and Russia, but 736 00:39:55,280 --> 00:39:59,359 Speaker 1: there's also a huge incentive and pressure internationally to see 737 00:39:59,560 --> 00:40:02,360 Speaker 1: the smooth of again. Uh. Certainly a number of countries 738 00:40:02,960 --> 00:40:06,200 Speaker 1: across the world that are being impacted by the lack 739 00:40:06,360 --> 00:40:09,320 Speaker 1: of grain exports from Ukraine. Yeah, we're going to continue 740 00:40:09,360 --> 00:40:13,320 Speaker 1: to watch that with you. Uh, Bloomberg Government reporter Emily Wilkins, 741 00:40:13,360 --> 00:40:15,239 Speaker 1: thank you so much for taking the time with us. 742 00:40:15,400 --> 00:40:17,920 Speaker 1: And also you can read more about these stories on 743 00:40:18,000 --> 00:40:21,040 Speaker 1: Bloomberg dot com or on the Bloomberg terminal. And as 744 00:40:21,080 --> 00:40:23,759 Speaker 1: a reminder, you can follow all of the latest dot 745 00:40:23,800 --> 00:40:26,759 Speaker 1: Bloomberg Radio in Washington on Bloomberg ninety nine one and 746 00:40:26,880 --> 00:40:29,760 Speaker 1: one oh five point seven fm h D two. Nathan, 747 00:40:30,000 --> 00:40:32,400 Speaker 1: okay me, thank you. We're at six fifty five on 748 00:40:32,480 --> 00:40:35,200 Speaker 1: Wall Street. Let's turn to news and science and technology now. 749 00:40:35,280 --> 00:40:37,560 Speaker 1: The Bloomberg n j I T STEM Report is brought 750 00:40:37,560 --> 00:40:40,200 Speaker 1: to you by New Jersey Institute of Technology, ranked the 751 00:40:40,280 --> 00:40:43,719 Speaker 1: top fifty national public university by US News and World 752 00:40:43,760 --> 00:40:46,200 Speaker 1: Report and number fourteen in the nation on Money's Best 753 00:40:46,239 --> 00:40:49,040 Speaker 1: Colleges List. Learn more at n j I T dot 754 00:40:49,160 --> 00:40:52,560 Speaker 1: e DU. Now Here's what's making news and science, technology, engineering, 755 00:40:52,680 --> 00:40:56,000 Speaker 1: and math. The Biden administration wants Congress to support a 756 00:40:56,040 --> 00:40:58,480 Speaker 1: four point three billion dollar plan to wean the US 757 00:40:58,520 --> 00:41:01,320 Speaker 1: off Russian uranium. The money would allow the US to 758 00:41:01,360 --> 00:41:05,239 Speaker 1: buy it directly from domestic producers. Energy officials have made 759 00:41:05,239 --> 00:41:07,680 Speaker 1: the case that any interruption in supply of enriched rush 760 00:41:07,719 --> 00:41:11,800 Speaker 1: and uranium would cause disruptions at commercial nuclear reactors. NASA 761 00:41:11,960 --> 00:41:15,879 Speaker 1: will launch a research rocket from remote northern Australia this month, 762 00:41:15,960 --> 00:41:19,240 Speaker 1: in the space agency's first blast off from a commercial 763 00:41:19,320 --> 00:41:23,200 Speaker 1: spaceport outside the US. The launch site was chosen because 764 00:41:23,320 --> 00:41:25,480 Speaker 1: it's in the southern Hemisphere and close to the equator. 765 00:41:25,719 --> 00:41:29,040 Speaker 1: It is the first NASA rocket launched down Under since 766 00:41:30,400 --> 00:41:33,200 Speaker 1: and Amazon, in its second annual report, says it prevented 767 00:41:33,320 --> 00:41:36,520 Speaker 1: four billion bad listings for making it onto its site 768 00:41:36,840 --> 00:41:39,640 Speaker 1: and got rid of more than three million phony products 769 00:41:39,760 --> 00:41:43,279 Speaker 1: last year. Counterfeit sellers have longed plagued Amazon and other 770 00:41:43,360 --> 00:41:46,640 Speaker 1: e commerce retailers. Amazon stepped up efforts to fight it 771 00:41:46,719 --> 00:41:50,279 Speaker 1: in recent years amid heightened scrutiny from brands and lawmakers 772 00:41:50,400 --> 00:41:55,120 Speaker 1: pushing for anti counterfeit legislation, and that is today's Bloomberg 773 00:41:55,200 --> 00:41:58,960 Speaker 1: and j I t Stem report. Future is moving lower, 774 00:41:59,080 --> 00:42:02,120 Speaker 1: though not as d plea as earlier in this UH 775 00:42:02,560 --> 00:42:05,319 Speaker 1: pre market session. Right now, SMP futures are down twelve 776 00:42:05,440 --> 00:42:08,040 Speaker 1: points for a drop of two three tenths percent. DAT 777 00:42:08,080 --> 00:42:10,480 Speaker 1: futures down a hundred twenty two points, and NASTAC futures 778 00:42:10,520 --> 00:42:12,719 Speaker 1: are lower by sixteen points. That's the decline of a 779 00:42:12,800 --> 00:42:15,640 Speaker 1: tenth of one percent. The tenure Treasury is down nine 780 00:42:15,680 --> 00:42:18,320 Speaker 1: thirty seconds. The yield three point zero percent on the 781 00:42:18,360 --> 00:42:20,799 Speaker 1: benchmark ten uere note, yield on the two year two 782 00:42:20,880 --> 00:42:23,680 Speaker 1: point seven four percent. Name X screwed up one point 783 00:42:23,719 --> 00:42:25,239 Speaker 1: one per cent, or a dollar thirty one at a 784 00:42:25,320 --> 00:42:28,279 Speaker 1: hundred twenty dollars seventy two cents a barrel. Comex goal 785 00:42:28,360 --> 00:42:30,319 Speaker 1: down a tenth per center two dollars forty cents at 786 00:42:30,360 --> 00:42:33,439 Speaker 1: eighteen forty nine seventy announced. The euro one point zero 787 00:42:33,520 --> 00:42:36,440 Speaker 1: seven to three against the dollar. Bitcoin right now trading 788 00:42:36,840 --> 00:42:40,719 Speaker 1: right around thirty thousand, four hundred dollars. Bloomberg Surveillance is 789 00:42:40,800 --> 00:42:44,080 Speaker 1: next with Tom Keene, Jonathan Farrell, and Lisa Bramowitz for 790 00:42:44,239 --> 00:42:48,480 Speaker 1: Amy Morris. I'm Nathan Hager, and this is Bloomberg