Speaker 1: Lie from the Bloomberg Interacted Brooker Studios. This is Bloomberg
Speaker 1: Daybreak for a Tuesday, April twelve two. Coming up this hour,
Speaker 1: President Biden will allows sales of higher ethanol gas in
Speaker 1: a bid to curb costs. Treasury yields you jump to
Speaker 1: the highest level since and investors brace for the March
Speaker 1: CPI report. Economists forecast inflation at a four decade high.
Speaker 1: New Jersey approved seven facilities for recreational pot sales lost.
Speaker 1: The US is telling non essential government staff to leave Shanghai.
Speaker 1: I am Michael Lauren. More ahead, I'm John stash Our. Sports.
Speaker 1: The Phillies rallied past the mess The Blue Jay shut
Speaker 1: out the Yankees. The Nets host Cleveland in a play
Speaker 1: in game tonight. That's all straded ahead on Bloomberg Daybreak
Speaker 1: on Bloomberg eleven, Free on New York, Bloomberg Washington, d C,
Speaker 1: Bloomberg one oh six one, Boston, Bloomberg nine sixties, San Francisco,
Speaker 1: Sirius x M one nine Team, and around the world
Speaker 1: on Bloomberg Radio dot Com. I'm and via the Bloomberg
Speaker 1: Business App. Good morning, I'm Nathan Hagar, and I'm Karen Moscow,
Speaker 1: US dock in knecks. Future is a little change this morning,
Speaker 1: coming up to six o one on Wall Street. We
Speaker 1: checked the markets every fifteen minutes throughout the trading day
Speaker 1: on Bloomberg SMP futures that will change this morning, So
Speaker 1: we're down futures, nowsdack futures higher up about thirty four.
Speaker 1: Ten year Treasury down to thirty seconds two points seven
Speaker 1: eight percent, yield on the two year two point five
Speaker 1: two percent, and now I'm ex screwed. Oil is up
Speaker 1: three point one percent. Nathan Karen. We begin with breaking
Speaker 1: news this morning. A new initiative by the Biden administration
Speaker 1: aims to give a boost to ethanol while lowering prices
Speaker 1: at the pump. Amy Morris reports from our Bloomberg ninety
Speaker 1: one newsroom in Washington. The plan to expand sales of
Speaker 1: higher ethanol gasoline would be a temporary change during the
Speaker 1: summer months. It would also waigh anti pollution restrictions, which
Speaker 1: would otherwise block warm weather sales of fifteen in areas
Speaker 1: where smog is a problem. Fifteen cells about five to
Speaker 1: ten cents per gallon less than regular gasoline. And while
Speaker 1: the move might replace oil consumption with corn consumption, the
Speaker 1: war on Ukraine could also boost corn prices in coming months,
Speaker 1: so administration officials say the calculus could change. In Washington,
Speaker 1: I'm Amy Morris Bloomberg, daybreak, right, Amy, thank you all,
Speaker 1: turning to the war in Ukraine. Now, India and the
Speaker 1: United States are trying to smooth some rough waters created
Speaker 1: by Russia's invasion, and Bloomberg said, Bachelor has the story.
Speaker 1: The virtual meeting between Prime Minister and Derrendro Moody and
Speaker 1: President Joe Biden focused in large part on India's purchases
Speaker 1: of Russian oil, and White House spokes of A Jem
Speaker 1: Saki says a message was forceful. The imports from the
Speaker 1: United States are already significant, for much bigger than the
Speaker 1: imports that they get from Russia. Uh and we, of
Speaker 1: course the President conveyed very clearly that it is not
Speaker 1: in their interest to increase that. Now. Having said that,
Speaker 1: both sides characterize of toxes friendly in San Francisco, I'm
Speaker 1: at Baxter Bloomberg, Daybreak, all right, and thank you, anything
Speaker 1: but friendly in Ukrain, and the Merrier of Mary Paul
Speaker 1: says Russian troops killed more than ten thousand civilians in
Speaker 1: their attempt to capture the ports city. Russia categorically denies
Speaker 1: purposely killing civilians. The US is warning the invasion is
Speaker 1: set to enter a very bloody phase, but retired Lieutenant
Speaker 1: General David Deptula tells US Ukraine could still win. Don't
Speaker 1: stand a better chance if the United States and NATO
Speaker 1: supply them with the kind of weapons that will give
Speaker 1: you krant an advantage. And that means more advanced air
Speaker 1: defenses like spider aircraft, surface to air missiles as well
Speaker 1: as service to surface missiles. Because the best way to
Speaker 1: stop the Russian air forces to kill it on the ground.
Speaker 1: David Deptula spoke with our Washington correspondent Joe Matthew on
Speaker 1: Bloomberg Sound on Catch the program weekdays at five pm
Speaker 1: Eastern on Bloomberg Radio, and we turned to the markets. Now, Nathan,
Speaker 1: the sell off and bonds continues this morning. In fact,
Speaker 1: the ten year treasury yield is trading at its highest
Speaker 1: level since eighteen right now is a two point seven
Speaker 1: eight percent and Bloomberg cross As editor Joanna Austen Jerry
Speaker 1: says analysts expect yields to keep rising two point eight
Speaker 1: three percent on the tenuere treasury. That's about where it
Speaker 1: peaks out today. That's where the yield would breach a
Speaker 1: long term trend line that started in the early nineteen eighties. Um,
Speaker 1: but a lot of people do expect it to happen, right.
Speaker 1: You have JP Morgan Asset Management, MUFG Security seeing a
Speaker 1: move past three and g s FM expects it to
Speaker 1: test three point five percent, So we are seeing most
Speaker 1: people kind of expecting it to continue. Bloomberg Show and
Speaker 1: Allison jur reports of Bloomberg Gage measuring total returns in
Speaker 1: treasuries I slumped almost eight percent this year, and that's
Speaker 1: on track for its worst annual decline since at least
Speaker 1: nineteen seventy three. Consumer price data do later this morning,
Speaker 1: Karen May push yields up further. Economists forecast and eight
Speaker 1: point four percent annual gain in Marches index. We get
Speaker 1: a preview from Bloomberg's Michael McKee. It's a week of
Speaker 1: economic data focused on inflation. With today's Consumer Price Index report, well,
Speaker 1: it's hard to call it a highlight. The forecast headline
Speaker 1: would be a scary one. Indeed, the highest inflation since
Speaker 1: nineteen two, when the nation's benchmark interest rate was fifteen percent, Energy, food,
Speaker 1: and housing costs are putting continued pressure on prices, while
Speaker 1: oil prices have fallen a bit in recent days. That
Speaker 1: won't show up in the March CPI. What higher prices
Speaker 1: may mean is lower consumer spending on things outside of
Speaker 1: those three categories. Will get retail sales figures for March.
Speaker 1: On Thursday, Michael McKee Bloomberg Debris Mike, thank you as
Speaker 1: investors brace for the CPI report, more predictions have a recession.
Speaker 1: This morning that Peterson Institute for International Economics says the
Speaker 1: global economy is set for a setback by the end
Speaker 1: of the year, and recession risks are elevated against the
Speaker 1: backdrop of Russia's invasion of Ukraine and COVID shutdowns in China.
Speaker 1: The recent surgeon treasury yields has taken its hole on
Speaker 1: tech stocks. We get that story from Bloomberg's Charlie Hellett.
Speaker 1: The No Stack one stock index dropped two point four percent,
Speaker 1: adding colosses sustained last week that have erased over one
Speaker 1: trillion dollars in market value from the tech heavy benchmark
Speaker 1: in the past five sessions. Microsoft was down three point
Speaker 1: nine percent, it's worse decline in more than a month.
Speaker 1: Chip maker in videos, saying five point two percent, extending
Speaker 1: losses sustained over the past five sessions to twenty percent.
Speaker 1: The stock has not had a five day run this
Speaker 1: bad since March of In New York, Charlie pellets Bloomberg Daybreak, Right, Charlie,
Speaker 1: thank you. One of the chech stocks not involved in
Speaker 1: the sell office. Twitter speculations still swirling on the impact
Speaker 1: Elon Musk may have at the social media company, and
Speaker 1: we get the latest line from Bloomberg's Ranita Young, Good morning, Radida,
Speaker 1: Good morning Karen. Now that Elon Musk is no longer
Speaker 1: accepting a position on Twitter's board, he may acquire additional
Speaker 1: shares of the company. Web Bush Securities analyst Dan I've
Speaker 1: says it's highly likely that Musk takes a more hostile
Speaker 1: stance toward Twitter and further built his active steak in
Speaker 1: the company. Musk currently owns nine point two percent of
Speaker 1: Twitter and is its largest individual shareholder, and since he's
Speaker 1: not on the board, he's not required to keep his
Speaker 1: stake below fifteen percent. Live in New York, I'm Nita Young,
Speaker 1: Bloomberg Daybreak. Okay, Nita, thank you. Bloomberg Daybreak is brought
Speaker 1: to you by b and Y Melons. Pershing learned why
Speaker 1: the world's most sophisticated wealth management and institutional firms rely
Speaker 1: on Pershing to help them improve profitability, create efficiency, attract talent,
Speaker 1: and mantage risk at pershing dot com. Straight ahead, your
Speaker 1: latest local headlines and a check of sports. This is
Speaker 1: Bloomberg Sound six o seven on Wall Street, Cloudy now
Speaker 1: forty nine degrees in Central Park. Still dealing with that accident.
Speaker 1: The southbound Degan at Yankees Stadium will get the update
Speaker 1: in traffic shortly. First Michael bar with what else is
Speaker 1: going on in New York end around the world. Good morning, Michael,
Speaker 1: Good morning Nathan. New Jersey regulators approved seven facilities that
Speaker 1: already sell medical marijuana to also sell recreational pot. The
Speaker 1: specific date wasn't set at the New Jersey Cannabis Regulatory
Speaker 1: Commission's vote during a remotely held meeting. The facilities must
Speaker 1: still pass a regulatory inspection of their operations and be
Speaker 1: issued new licenses. Retail sales for the general public would
Speaker 1: start in thirteen dispensaries operated by the seven treatment centers
Speaker 1: across the state. Officials in Philadelphia reinstated the city's indoor
Speaker 1: mask mandate. It takes effect next Monday. Amid arising COVID infections,
Speaker 1: Philadelphia's Health Commissioner Cheryl Betegal, I'm announcing that we have
Speaker 1: reached the threshold from moving out of the all clear
Speaker 1: COVID response level and into the mass precautions level. Simply put,
Speaker 1: that means that we're reintroducing the mask mandate in Philadelphia.
Speaker 1: Commissioner better Goal says the city is averaging a hundred
Speaker 1: forty two new COVID nineteen infections a day. The US
Speaker 1: government ordered all non emergency staff at its Shanghai Council
Speaker 1: and their families to leave the Chinese city due to
Speaker 1: a surge in COVID cases. Most of Shanghai's twenty five
Speaker 1: million residents are subject to tight movement restrictions that keep
Speaker 1: them in their homes, making it unable to obtain food
Speaker 1: or necessities. A twenty three year old woman who falsely
Speaker 1: accused a black team of stealing her cell phone at
Speaker 1: a New York City hotel avoids jail time after pleading
Speaker 1: guilty to a hate crime. Maya Ponsetto attacked the team
Speaker 1: at the Arlow Hotel in December after the hearing, defense
Speaker 1: attorney pulled. Emilia spoke for his client. This Poncetto is
Speaker 1: thankful for the thoughtfulness and the empathy that the d
Speaker 1: a's office showed. Defense Attorney the Ammia says that they're
Speaker 1: happy and relieved that this ordeal is over. President Joe
Speaker 1: Biden announced the finalization of new federal rules restricting so
Speaker 1: called ghost guns, which allowed purchasers to assemble potentially untraceable
Speaker 1: weapons from kits. Law enforcement is sounding the alarm our.
Speaker 1: Communities are paying the price. I'm were acting today. The
Speaker 1: United States Department of Justice is making it illegal for
Speaker 1: a business to manufacture one of these kids without a
Speaker 1: serial number. Illegal. President by Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quick Take, powered
Speaker 1: by more than twenty seven undred journalists analysts more than
Speaker 1: hundred twenty countries. Michael Barr, this is Bloomberg NA all right, Michael.
Speaker 1: Thanks almost six ten on Wall Street time for the
Speaker 1: Bloomberg Sports Update with John Stenshower. Nathan and Mets began
Speaker 1: the season with three wins in Washington. Their first lost
Speaker 1: Sunday was a blown lead in the eighth inning in Philadelphia.
Speaker 1: That happened again. Want to pitch all the way swung
Speaker 1: on the field. It's gonna get down for a face
Speaker 1: hit in the gap and it's gonna give the Phillies
Speaker 1: the lead. Gregorius drive for second. He's in there with
Speaker 1: the slide and the Phillies lead at five to four.
Speaker 1: Here on the bottom of the end. It was radio.
Speaker 1: So they wiped out a four nothing deficit, won five four,
Speaker 1: scoring all five in the e J. T. Rail Mudo
Speaker 1: with a two on Homer. He's Hopkins a hit to
Speaker 1: tie the game, and then TV Gregory has put him
Speaker 1: the head. Yankee bats were quired at the stadium only
Speaker 1: four singles off Toronto's Alec minoah and three Blue Jay
Speaker 1: bel Leavers. Toronto won three nothing, with George Springer driving
Speaker 1: in all three, two on Homer, third inning off Jamison
Speaker 1: till You on later in RBI double and San Diego's
Speaker 1: winning San Francisco Taylor Rogers got the save for the Padres.
Speaker 1: His twin brother, Tyler Rodgers, took the loss for the Giants.
Speaker 1: The Learner family purchased the Washington Nationals in two thousand
Speaker 1: six for four hundred and fifty million dollars, now said
Speaker 1: to be looking to sell seeking around two billion. Big
Speaker 1: game of the Rangers. Tonight they host Carolina, who's in
Speaker 1: first place but just two points ahead of the Blue
Speaker 1: stre It's an even bigger game. So then at zat
Speaker 1: Barkley is against Cleveland. The play in games decide who
Speaker 1: will be the seventh seed in the East faced Boston
Speaker 1: in the first round of the playoffs. The loser will
Speaker 1: host a game Friday against Atlanta or Charlotte, and that
Speaker 1: winner will be the eighth scene take on Miami. Frank
Speaker 1: Bogo out as coach of the Lakers two years after
Speaker 1: winning the NBA NA. Reportedly, the Lakers will try to
Speaker 1: hire Nick Nurse away from Toronto. John Dashot work with
Speaker 1: Bloomberg Sports NA Thanks John SMP futures now little change down,
Speaker 1: futures down twenty points, NaNs deck futures up ten. Your
Speaker 1: treasuries down to thirty seconds with the yield right at
Speaker 1: two point seven nine percent and the yield on the
Speaker 1: two year right now two point five one. This is Bloomberg.
Speaker 1: Bloomberg Day Break, brought to you by ancient accountants and advisor's.
Speaker 1: Challenging times called for proactive advisors who helped minimize taxes,
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Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape. This
Speaker 1: is a Bloomberg Business lash and I'm Cameron Moscow. US
Speaker 1: dot Index futures and treasuries are stabilizing after the tenure
Speaker 1: yield jumped to the highest and twenty eighteen ahead of
Speaker 1: an inflation print that's set to bolster the case for
Speaker 1: aggressive federal reserve policy tightening. Check the markets every fifteen
Speaker 1: minutes throughout the trading day on Bloomberg. Right now, S
Speaker 1: and P futures are little changed. DAL futures are little
Speaker 1: changed as well, and now as Deck futures are higher
Speaker 1: up nineteen points and decks in Germany's down about one
Speaker 1: percent ten Your treasury down one thirty second yield two
Speaker 1: point seven eight percent. The yield on a two year
Speaker 1: two point five one percent NIMEX Scrude oil is up
Speaker 1: three and a quarter percent of three dollar seven cents
Speaker 1: at ninety seven dollar thirty six cents a barrel. Comic
Speaker 1: schoold is up half percent or ten dollars fifty cents
Speaker 1: at nineteen fifty eight seventy an ounce, the euro one
Speaker 1: point eight seven zero against the dollar British found one
Speaker 1: point three zero zero seven and then is at one
Speaker 1: twenty five point five nine bitcoin this morning higher up
Speaker 1: seven tenths percent at forty thousand, one hundred twenty dollars.
Speaker 1: That's a Bloomberg business flash. Now here's Michael Barr with
Speaker 1: more on what's going on around the world. Michael Karen,
Speaker 1: thank you very much. A spokesman from Moscow back separatists
Speaker 1: in eastern Ukraine has denied using chemical weapons to uproot
Speaker 1: Ukrainian troops in the port city of Mariouple. Meanwhile, the
Speaker 1: mayor of Maryupol says Russian troops have killed more than
Speaker 1: ten thousands billions over the past six weeks. A federal
Speaker 1: jury in Washington, d C. Convicted a former Virginia police
Speaker 1: off there on all charges stemming from the January six
Speaker 1: riot at the US Capitol. The defendant, Thomas Robertson, was
Speaker 1: accused of wielding a stick and interfering with police. In
Speaker 1: Major League Baseball, the met Yankees, Red Sox and Giants
Speaker 1: lost the Nationals, Orioles and A's one Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quick Take,
Speaker 1: powered by more than twenty seven hundred journalists and analyst
Speaker 1: are more than a d twenty countries. Michael Barr and
Speaker 1: this is Bloomberg. Nathan Okay, Michael. Thanks at six nineteen
Speaker 1: on Wall Street Live from the Bloomberg Interactive Broker Studios.
Speaker 1: This is Bloomberg Daybreak and Roslyn Mathieson is back with
Speaker 1: us this morning, Executive editor for International Government for Bloomberg News.
Speaker 1: As we continue hearing these growing calls for a more protracted,
Speaker 1: more bloody phase for the war in Ukraine, particularly to
Speaker 1: the east, but given some of the reports and images
Speaker 1: we've seen Roz, it's difficult to imagine the war getting
Speaker 1: even more intense than it already had hours. That's right,
Speaker 1: but if anything, it seems like it may because it
Speaker 1: looks like Russia, which has already been fighting heavily in
Speaker 1: the eastern part of the country and laying siege to
Speaker 1: towns like Mariopol for weeks now, is girding itself for
Speaker 1: a fresh, big assault and that's all to deliver the
Speaker 1: Russian president some sort of victory to claim by May nine,
Speaker 1: which is the of course, their day, they mark their
Speaker 1: victory day in World War Two, So it seems like
Speaker 1: they're really girding their forces there for some kind of
Speaker 1: full assault, and that would be to either expand the
Speaker 1: territory that they currently have or to to really entrench
Speaker 1: themselves there and make themselves impossible to be booted out again.
Speaker 1: And that's the warning that we're seeing, not just from Ukraine,
Speaker 1: but also from countries like the US and others that
Speaker 1: all signs are that the level of Russian troops and
Speaker 1: equipment that's piling in to the east now suggests that
Speaker 1: they're really pushing ahead for a major assault in the
Speaker 1: coming days. What is NATO and what are the US
Speaker 1: pushing for as well? We've heard recent comments just moments
Speaker 1: ago really from Russian President Vladimir Putin. Some of his
Speaker 1: latest rhetoric is that conflict with the West is inevitable.
Speaker 1: What does that imply well, his suggestion all of that
Speaker 1: is what he has been saying for sometime, which is
Speaker 1: his view that Russia is the one that's being laid
Speaker 1: siege to, It's the one that's being encroached upon by
Speaker 1: countries in NATO and elsewhere. It's NATO pushing out towards
Speaker 1: Russia's periphery that has forced this action, rather than NATO
Speaker 1: responding to what was Russia's actions inside Ukraine and suggestion
Speaker 1: from him that he sees his mission as continuing, especially
Speaker 1: in the don Bass area, that he sees the military
Speaker 1: operations he calls it in Ukraine so far as successful
Speaker 1: and set to continue. And what are we hearing further
Speaker 1: rise about the idea of further evidence of war crimes?
Speaker 1: You heard the report from Michael Barr about the possibility
Speaker 1: of chemical weapons use in Ukraine. Are we seeing any
Speaker 1: real hard evidence that not at this stage? And of
Speaker 1: course there was one small unverified report last night from
Speaker 1: a civilian battalion located in Mariopol, but that seems to
Speaker 1: not have been chemical weapons or even potentially the use
Speaker 1: of chemicals, So everyone's been very cautious about that report.
Speaker 1: There's been nothing verified from the Ukrainian officials themselves, either
Speaker 1: the military or the government. But certainly the concern remains
Speaker 1: that as this war goes on, and particularly if Russia
Speaker 1: fails to execute what it sees as its military goals
Speaker 1: on the ground, does that lead the Russian president towards
Speaker 1: more extreme action? Does that mean potentially the deployment of
Speaker 1: chemicals or chemical weapons to some use inside Ukraine. Of course,
Speaker 1: there's been accusations across history of Russia doing that elsewhere.
Speaker 1: Russia says it destroyed its stocks of chemical weapons in
Speaker 1: two thousand and seventeen, other countries accused it of still
Speaker 1: maintaining at least small stock piles for potential use, and
Speaker 1: as that concern continues to build rise, it really has
Speaker 1: been stray king to see this shift coming from European allies,
Speaker 1: from diplomacy and sanctions being the focus against Russia to
Speaker 1: now even more talk of providing more heavy weapons to Ukraine.
Speaker 1: What kind of equipment, what kind of further support could
Speaker 1: Ukraine be looking for from Europe? Well, what they're really
Speaker 1: looking for as an escalation of those heavy weapons, more
Speaker 1: offensive weapons, because so far what countries have sent have
Speaker 1: largely been classed as defensive weapons. But the reality is
Speaker 1: that if Ukraine's are only going to defend territory, but
Speaker 1: take territory back from Russia, it will need different kinds
Speaker 1: of weapons, and that's more of armored vehicles and tanks.
Speaker 1: And so you're seeing an understanding amongst EU members and
Speaker 1: the US that that kind of stuff really needs to
Speaker 1: go into Ukraine and quickly. Of course, it doesn't appear
Speaker 1: magically in a day if you decide to send a
Speaker 1: tank to Ukraine. Even if those decisions are taken now,
Speaker 1: it could be um some weeks even before it actually
Speaker 1: arrives in The question is whether that's already too late.
Speaker 1: But certainly at least you're seeing and understanding that, despite
Speaker 1: the risk that it draws the eye of the Russian President,
Speaker 1: that a few crane is really going to withstand the
Speaker 1: attacks on the ground. It needs you with different kinds
Speaker 1: of equipment. All right, Thanks as always, ros good having
Speaker 1: you on for the latest. Rosalind mathieson Bloomberg News, Executive
Speaker 1: editor for International Government. Right now, SMP futures are down
Speaker 1: two points, STOW futures down thirty six, NASTACK futures are higher,
Speaker 1: but by just about eight and a half points. The
Speaker 1: tenure treasury right now is down to thirty seconds, with
Speaker 1: the yield very close to two point seven nine percent,
Speaker 1: the yield on the two year two point five one
Speaker 1: percent as we await the release of the March Consumer
Speaker 1: Price Index. In the US, NIMEX crude surging in the session,
Speaker 1: up three and a half percent or three dollars thirty
Speaker 1: three cents ninety seven dollars sixty two cents a barrel.
Speaker 1: Just ahead, we are bracing for another potentially historically high
Speaker 1: inflation print. And what are Elon Musk's plans with Twitter?
Speaker 1: The five things you need to know to start your day?
Speaker 1: Just the head on Bloomberg Daybreak. Bloomberg Daybreak is brought
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Speaker 1: sixty to the Country Sirius XM Chado one nineteen and
Speaker 1: around the globe, the Bloomberg Business apt and Bloomberg Radio
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Speaker 1: Wall Street. Good morning. I'm Nathan Hager and I'm kerin Moscow,
Speaker 1: and we're just about three hours away from the open
Speaker 1: of US trading. Time for the five Things you need
Speaker 1: to Notice start your day. Brought to you by Interactive Brokers.
Speaker 1: Interactive Brokers charges margin loan rates from zero point eight
Speaker 1: three percent to one point a three percent rate, subject
Speaker 1: to change. Learn more at ibk R dot com. Slash
Speaker 1: compare a first. Fighting continues in Ukraine as the US
Speaker 1: warrants the Russian invasion is set to enter a very
Speaker 1: bloody phase. Retired Lieutenant General and David Deptula tells Bloomberg's
Speaker 1: Joe Matthew support for Ukraine must continue. They're fighting on
Speaker 1: behalf of the complete free world, and so we need
Speaker 1: to support him to the greatest degree possible, not the
Speaker 1: least that we can get by with, According to White
Speaker 1: House and Pentagon lawyer David Deptula's book Without Washington. Correspondent
Speaker 1: Joe Matthew on Bloomberg Sound on Catch the program weekdays
Speaker 1: at five pm Eastern on Bloomberg Radio. Back here in
Speaker 1: the U, S, care and economists say inflation will probably
Speaker 1: set a fresh four decade high for March. They project
Speaker 1: the US consumer price index rising eight point four percent
Speaker 1: year over year. Bloomberg's Vine Tell Judas reports March. Maybe
Speaker 1: the peak, Bloomberg Economics is commodity prices effect on the highs,
Speaker 1: but the climb down will be stubborn lee slow. With
Speaker 1: the US inflation rate running above seven percent much of
Speaker 1: this year. In February, the CPI row seven point nine
Speaker 1: percent year of the year, the Fed, meantime, will keep
Speaker 1: tightening higher interest rates that contain runaway prices be jude
Speaker 1: I s bloom birgday break right, Fanny, thank you? Ten
Speaker 1: year treasuries arose about two point eight percent to the
Speaker 1: highest level since December of twenty eight. Team. That would
Speaker 1: be the treasury yield to sell off threatens to end
Speaker 1: a four decade bull run in bonds. Right now ten
Speaker 1: year yields or at two point seven eight percent. Risks
Speaker 1: for global recession arising two Karen. That's thanks to high
Speaker 1: inflation as well as the Russian invasion and China's COVID shutdowns,
Speaker 1: according to a report from the Peterson Institute for International Economics.
Speaker 1: Economists surveyed by Bloomberg also warn of rising recession risks
Speaker 1: and Nathan speculations thirling about how Elon Musk will impact
Speaker 1: Twitter or let's get the latest Live with Bloomberg's right
Speaker 1: need a young good morning Rady to Good morning Karen.
Speaker 1: Now that Elon Musk is no longer accepting a position
Speaker 1: on Twitter's board, he may acquire additional shares of the company.
Speaker 1: Web Bush Securities analyst Dan I've says it's highly likely
Speaker 1: that Musk takes a more hostile stance toward Twitter and
Speaker 1: further built his active steak in the company. Musk currently
Speaker 1: owns nine point of Twitter and is its largest individual shareholder,
Speaker 1: and since he's not on the board, he's not required
Speaker 1: to keep his steak. Below Live in New York, I'm
Speaker 1: rened a young Bloomberg day break. All right, rened to
Speaker 1: thank you. That's the five things you need to notice
Speaker 1: start your day. Brought to you by Interactive Brokers and
Speaker 1: straight Ahead your latest local headlines, plus a check of sports,
Speaker 1: and this is Bloomberg. Thank you, Karen, sixty three on
Speaker 1: Wall Street, forty nine degrees in Central Park. We got
Speaker 1: two accidents on the Garden State Parkway. Will tell you
Speaker 1: more in traffic and just a few minutes. First, Michael
Speaker 1: Barr with what else is going on in New York
Speaker 1: and around the world. Good morning, Michael, Good morning, Nathan,
Speaker 1: New Jersey regulators have ever approved seven facilities that already
Speaker 1: sell medical marijuana to also sell recreational pot. However, it's
Speaker 1: not clear exactly when sales would begin. The Jersey Cannabis
Speaker 1: Regulatory Commission voted during a remotely held meeting that sales
Speaker 1: could start in a matter of weeks or longer. The
Speaker 1: approval vote comes a year and a half after voters
Speaker 1: overwhelmingly approved recreational marijuana for people twenty one and older.
Speaker 1: Masks are making a return to Philadelphia. Officials have decided
Speaker 1: with an increase in COVID nineteen infections, it's time for
Speaker 1: the indoor mask mandate to come back. Philadelphia's Health commissioners
Speaker 1: Cheryl bettegal, today's case count is more than higher than
Speaker 1: what we saw ten days ago, so we know that
Speaker 1: cases are rising fairly quickly. The number of people hospitalized
Speaker 1: in Philly with COVID is still low, only forty. Commissioner
Speaker 1: Benegal says beginning next Monday, people in indoor public spaces,
Speaker 1: including schools, child care settings, businesses, restaurants, and government buildings
Speaker 1: will be told to mask up. The US has ordered
Speaker 1: all non emergency government staff to leave Shanghai, which is
Speaker 1: under a tight lockdown to contain at COVID nineteen search.
Speaker 1: People living under the restrictions have described an increasingly desperate situation,
Speaker 1: with families unable to obtain food and daily necessities. Shanghai
Speaker 1: reported another twenty three thousand cases. Today, President Joe Biden
Speaker 1: announced the finalization of new federal rules restricting so called
Speaker 1: ghost guns, which allow purchasers to assemble potentially untraceable weapons
Speaker 1: from kits Georgia packs like this one over here includes
Speaker 1: the parts youre need, the direction of assembly, a functioning
Speaker 1: fire you bought a gun. The President called the new
Speaker 1: policy just basic common sense. A woman who falsely accused
Speaker 1: a black team of stealing her cell phone and a
Speaker 1: New York City hotel avoids jail time after pleading guilty
Speaker 1: and a hearing to a hate crime. Twenty three year
Speaker 1: old Maya Poncetto pleaded guilty to unlawful imprisonment in the
Speaker 1: second degree as a hate crime after she accused then
Speaker 1: fourteen year old Ken Harold of stealing her cell phone
Speaker 1: and then attack fourteen year old at the Arlo Soho
Speaker 1: hotel in December. Said those defense attorney Paul Emelia, we
Speaker 1: obviously are happy and relieved that this story deal is over.
Speaker 1: Defense attorney Amelia said his client is grateful for the
Speaker 1: BEA's empathy. Global News twenty four hours a day on
Speaker 1: airand on Bloomberg Quick Take Power, more than twenty seven
Speaker 1: hundred journalist analysts, more than a D twenty countries. Michael
Speaker 1: Barb this is Bloomberg Naked. Thanks Michael. Just about six
Speaker 1: thirty six on Wall Street, John stash Our has the
Speaker 1: Bloomberg Sports Update. All right, Nathan. Life in the a
Speaker 1: L E's Tampa Bay has been better than the Yankees
Speaker 1: each of the last two seasons. Red Sox beat the
Speaker 1: Yanks of the playoffs. Last year in Toronto, much improved
Speaker 1: Blue Jays at the stadium. First of four, Jay's won
Speaker 1: three opts, Alec Moneo and three relievers. Teams been a
Speaker 1: four hit shutout. George Springer provided the all on the
Speaker 1: offensive two run homer, then an rb I double. Jay's
Speaker 1: pitchers did issue nine walks and the Yanks sets of chances,
Speaker 1: but the night after they branded eleven runners against the
Speaker 1: Red Sox, they left eight more on base. Anthony Rizzo
Speaker 1: on the challenge of the division. Good team, They're they're
Speaker 1: a good team. They're that's this whole divisions, the Blue Jays.
Speaker 1: The raise. I just think every game and every day
Speaker 1: is is you know, we lost, that's it, and tomorrow
Speaker 1: will come back. And two we can do to win,
Speaker 1: and that's that's really all I can do. Mets in
Speaker 1: Philadelphia and like Sunday in Washington, great pitching for seven innings,
Speaker 1: metsic afore nothing lead of the eighth and the lead
Speaker 1: disappeared in the eighth. Phillies scored five times offer leavers
Speaker 1: Joe Ellie Rodriguez and Seth Lugo in the fields won
Speaker 1: five for Alec Bohm, the Phillies third basement had a
Speaker 1: rough night. He had errors in each of the first
Speaker 1: three innings. Before the Nets can be part of the
Speaker 1: NBA Playoffs, they have to win in the play in
Speaker 1: They host Cleveland tonight. The winner is the seventh seed
Speaker 1: and takes on Boston. The loser has another game Friday
Speaker 1: to then try and be the eight seed. Rangers tonight
Speaker 1: host Carolina. That's the first place in the Metropolitan Division. St.
Speaker 1: Peter's name. Basher Mason is new basketball coach, replacing Seen Halloway,
Speaker 1: who left for Seton Hall. Mason had been at Wagner,
Speaker 1: pof Peacock's Course said that historic n C double a
Speaker 1: run three of the top players in that t mark
Speaker 1: transferring John Stash that Bloomberg Sports taking all right, John,
Speaker 1: thank you sixty seven on Wall Street. Time to take
Speaker 1: a look at stock, some of the names moving in
Speaker 1: the pre market with Bloomberg Radio and TV markets correspondent
Speaker 1: Creedy Goopeda. Of course, creedy traders are bracing for that
Speaker 1: March CPI print. What are you watching this morning? Yeah,
Speaker 1: marching bracing for the March cp I print, like you said,
Speaker 1: but also keeping an eye on those textures because essentially
Speaker 1: it's those textures that are making or breaking index games lately. Yesterday,
Speaker 1: of course, you know, the NASTAC took quite the beating,
Speaker 1: dropping apps over two percent, I should say, dragging the
Speaker 1: SMP five hundred down with it today maybe making a
Speaker 1: very small comeback, we'll see. Let's start with Apple here
Speaker 1: underneath the hood. A ap L is your taking. Announ's
Speaker 1: only down one tenth of a percent, but City coming
Speaker 1: out and saying that it expects Apple to raise its
Speaker 1: dividend and add as much as ninety billion dollars in
Speaker 1: buy backs. It also comes the report's second quarter results
Speaker 1: later this month, so earlier in the session, this was
Speaker 1: giving Apple a bit of a boost. Let's see if
Speaker 1: that boost comes back at the start of trading, because
Speaker 1: that could actually help perhaps drive some games for the
Speaker 1: entire SMP five hundred. To the downside, though, you do
Speaker 1: have Cisco at c s c O. Is your ticker
Speaker 1: down a whopping two percent once again. This comes after
Speaker 1: a city move City cutting it on competition from Juniper
Speaker 1: and Arista. City says Juniper and Arista are gaining more
Speaker 1: market share from Cisco, and as the trend evolved, Cisco
Speaker 1: could face a compression and valuation multiple. That's a lot
Speaker 1: of fancy talk, Nathan, for essentially, Cisco is kind of
Speaker 1: losing a little bit of market share really having to
Speaker 1: deal with competition. They've been growing so much. How much
Speaker 1: more can they grow when they've already made so much progress.
Speaker 1: This is kind of perhaps a little bit of losing
Speaker 1: momentum that they're talking about. Once again, c s c
Speaker 1: O down two percent. I shall also talk about n
Speaker 1: video n v d A. This is an interesting story, Nathan,
Speaker 1: because of course we know this is the chip maker,
Speaker 1: the heavyweight in the SMP five hundred and the NaSTA
Speaker 1: as well as the socks and as well as something
Speaker 1: that a lot of other chipmakers take their cue from. Well,
Speaker 1: it's bouncing back up six tenths of a present after
Speaker 1: dropping twenty in the last five sessions. So you really
Speaker 1: want to have tech on your side to see those
Speaker 1: broad games, and lately we just haven't had that. A
Speaker 1: lot of going on in tech this morning outside the
Speaker 1: sector though, anything else catching your eye, Well, we got
Speaker 1: to talk about hardware. This is tech adjacent, I'll say,
Speaker 1: And once again this really comes down to the whole
Speaker 1: tech theme, but this is tech adjason as opposed to
Speaker 1: your big tech players. Morgan Stanley also now saying it's
Speaker 1: cautious on telecom hardware. It actually cuts three stocks, including
Speaker 1: Hewlett Packard Enterprises hp F five f F I V
Speaker 1: is your taker at n T A P. That's the
Speaker 1: taker from net out there all down this morning. Nathan
Speaker 1: all Right, Bloomberg Radio and TV Markets, corresponding Crety Goop
Speaker 1: that keeping an eye on the tech stocks and the
Speaker 1: rest of the market as we take a look at
Speaker 1: stocks as a whole. Before the Tuesday morning open and
Speaker 1: before the release of the March cp I futures a
Speaker 1: touch higher. Right now, SNP futures up almost four points down,
Speaker 1: futures up a let ben NAZDAC futures leading the gains
Speaker 1: after yesterday's big losses for the nastac one. NaSTA futures
Speaker 1: are up thirty two points. The tenure treasury is down
Speaker 1: to thirty seconds, the yield two points on the tenure note.
Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three or whether
Speaker 1: Probably mostly sunny today with a high in neear seventy,
Speaker 1: a mix of sun and clouds, upper sixties tomorrow, afternoon
Speaker 1: showers and thunderstorms likely Thursday, with a high near seventy five.
Speaker 1: Right now, fifty degrees in Central Park