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Speaker 1: Live from the Bloomberg Interactive Burger Studios. This is Bloomberg

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Speaker 1: Daybreak for Wednesday, March nine. Coming up this hour, Russian

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Speaker 1: forces intensify their attack on Ukraine's capital city, Kiev. Energy

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Speaker 1: markets remain volatile, as President Biden bands imports from Moscow.

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Speaker 1: Starbucks and Coca Cola are the latest just to spend

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Speaker 1: business in Russia, and a big name investor warns it

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Speaker 1: a ten print on us. Inflasia, Jersey Governor Murphy unveiled

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Speaker 1: his state budget, Plus Florida's so called Don't Say Gay

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Speaker 1: Bill is on its way to the Governor's desk. I'm

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Speaker 1: Michael Barer. More ahead, I'm John Stashtown Sports than nets

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Speaker 1: warn the Rangers lost victory in the NFL, and some

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Speaker 1: optimism for the end of the baseball lockout. That's all

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Speaker 1: straight Ahead on Bloomberg day Break on Bloomberg Element Trio,

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Speaker 1: New York, Bloomberg one, Washington, d C, Bloomberg one, O

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Speaker 1: six one, Boston, Bloomberg nine sixties, San Francisco, Syrius x

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Speaker 1: M one nine Team and around the world Old on

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Speaker 1: Bloomberg Radio dot Com and via The Bloomberg Business. Good Morning,

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Speaker 1: I'm Nathan Hager. And I'm Karen. Moscow and US futures

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Speaker 1: are rebounding this morning. We're coming up to six o

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Speaker 1: one on Wall Street, and we checked the markets every

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Speaker 1: fifteen minutes throughout the trading day on Bloomberg. Right now,

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Speaker 1: SNP futures are up sixty one points down, futures A

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Speaker 1: four hundred twenty three and NASDAG futures up two hundred forty.

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Speaker 1: The decks in Germany is a four point nine percent.

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Speaker 1: The ten year treasury down fifteen thirty seconds, yield one

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Speaker 1: point eight nine percent. They yield on the two year

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Speaker 1: one point six five percent. Nim Max screwed oil down

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Speaker 1: one point seven percent, down two dollars thirteen cents and

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Speaker 1: a hundred twenty one dollar fifty cents of barrel and

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Speaker 1: Comex s goold is down one point two percent, or

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Speaker 1: twenty three dollars sixty cents at two thousand, nineteen dollars,

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Speaker 1: announced Nathan, Okay, Karen, thanks well. Have more of the

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Speaker 1: markets in a minute. First, the latest on the war

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Speaker 1: in Ukraine. Russian forces have intensified their strikes on KEYV.

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Speaker 1: We get the very latest from Bloomberg. Said back Stair.

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Speaker 1: The bulk of Russian forces are about thirty miles away

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Speaker 1: from the city. Now. This coincides with what U S

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Speaker 1: Intelligence Director Avril Haynes is telling the House Intelligence Committee

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Speaker 1: that Vladimir Putin thought the war would end in two

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Speaker 1: days and that he will now be more brutal. Our

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Speaker 1: analysts sussessed that Putin is unlikely to be deterred by

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Speaker 1: such setbacks and instead may escalate, essentially doubling down to

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Speaker 1: achieve Ukrainian disarmament neutrality. Haynes says if the resistance continues,

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Speaker 1: it may have to change with some kind of face

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Speaker 1: saving action, but that that resistance will have to remain

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Speaker 1: very strong. In San Francisco, I'm at Baxter Bloomberg daybreak,

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Speaker 1: all right, and thank you. In Ukraine, President voladimir's Lenski

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Speaker 1: is calling for more support from allies. He addressed the

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Speaker 1: UK House of Comments yesterday. Police increase the pressure of

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Speaker 1: sanctions against this country, and police recognize this contract as

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Speaker 1: a catterist state, and police make sure that our Ukrainian

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Speaker 1: sky a safe address. Was the first ever speech to

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Speaker 1: the UK chain here by a foreign leader by here.

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Speaker 1: In the US, care and lawmakers on Capitol Hill have

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Speaker 1: crafted legislation to banned US imports of Russian oil. The

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Speaker 1: move came just hours after President Biden called for a

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Speaker 1: van Amy Morris has details from our Bloomberg newsroom in Washington.

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Speaker 1: The House legislation is a response by lawmakers to public

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Speaker 1: anger over Russia's invasion of Ukraine. It's also forced President

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Speaker 1: Biden's hand despite the administration's concerns about the effect on

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Speaker 1: energy prices. Biden had a warning for companies trying to

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Speaker 1: profit off the crisis. No excuse to exercise excessive price

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Speaker 1: increases or patting profits, or any kind of effort to

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Speaker 1: exploit this situation. The House bill bars the importation of

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Speaker 1: Russian crude oil, liquefied natural gas, coal, and refined products

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Speaker 1: like gasoline and kerosene. It also reviews Russia's access to

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Speaker 1: the World Trade Organization. It is scheduled for a floor

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Speaker 1: vote later today and will take effect forty five days

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Speaker 1: after it's enacted in Washington. I'm Amy Morris, Bloomberg Daybreak.

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Speaker 1: All right, Amy, thank you. What we're seeing oil prices

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Speaker 1: fall this morning? Nine n screwed oil is down one

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Speaker 1: point seven percent, and a hundred sixty four cents of

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Speaker 1: barrel brent is down one point three a hundred twenties

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Speaker 1: six dollars thirty one cents. Minnesota Democratic Senator Tina Smith says,

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Speaker 1: it's important that you the US does not rely on

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Speaker 1: for in oil. The power of being energy independent and

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Speaker 1: doing that through moving aggressively into clean power and renewable

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Speaker 1: power is that you know, the putting has no say

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Speaker 1: on whether how much we pay for wind or solar.

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Speaker 1: In fact, that power is free. It gives us so

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Speaker 1: much more resilience, I think, and Minnesota Senator Tina Smith

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Speaker 1: spoke with Our Washington corresponded Joe Matthew on Bloomberg Sound

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Speaker 1: on Catch the program weekdays at five pm Eastern on

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Speaker 1: Bloomberg Radio Well Caring. The list of companies suspending operations

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Speaker 1: are pulling out of Russia keeps growing. Let's get the

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Speaker 1: latest on that live from Bloomberg's Unit a Young. Good morning, Na,

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Speaker 1: Good morning Nathan. Iconic brands like Starbucks, Coca Cola, and

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Speaker 1: McDonald's are the latest to pull out of Russia. The

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Speaker 1: Coffee Giants partner in the country is pausing operations and

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Speaker 1: will give support to the nearly two thousand partners who

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Speaker 1: depend on the company for their livelihood. PayPal is also

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Speaker 1: suspending business in Russia, and PepsiCo says it will suspend

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Speaker 1: soft drink sales in the country, but will continue to

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Speaker 1: sell daily essentials like baby formula and milk. Live in

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Speaker 1: New York. I'm Nita Young Bloomberg daybreak, All right, Na,

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Speaker 1: thank you. The Russian ruble a is weakening sharply this morning,

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Speaker 1: at the same time European equities are staging a comeback,

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Speaker 1: and we go to London and get the very latest

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Speaker 1: from Bloomberg to un parts. Good morning you on good morning,

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Speaker 1: Nathan and Karen. Plenty of green on traders Bloomberg screens today.

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Speaker 1: That's as dip buyers wage. The global ecomic impact of

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Speaker 1: escating sanctions is already reflected in equity prices, US gaining

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Speaker 1: this morning, with banks, tech, and travel on leisure among

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Speaker 1: the best performing sectors. Something not gaining today Russia's ruble.

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Speaker 1: It's some as much as seven point eight percent against

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Speaker 1: the dollar as the onshore market resumed in Moscow, giving

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Speaker 1: local traders they're first challenge this week to react to

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Speaker 1: recent negative developments in London. Immune pult spin back. Day break,

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Speaker 1: all right you and thanks. Turning back to the US economy,

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Speaker 1: it is all about inflation. This week we get the

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Speaker 1: latest reading on consumer prices tomorrow. Billionaire bond manager Jeffrey

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Speaker 1: Gunlock warns that inflation could approach ten percent this year.

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Speaker 1: He says the Fed needs to aggressively tighten monetary policy.

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Speaker 1: The CEO of Double Line Capital also says bonds are

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Speaker 1: currently overvalued, while emerging market debt is cheap. And in Asia,

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Speaker 1: Overnight Nathan, inflation was also in focus. China's factory prices

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Speaker 1: eased again in February, o that the the outlook is deterior rating.

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Speaker 1: Bloomberry Daybreak Asia anchor Bryan Curtis has the details. The

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Speaker 1: pp I rose eight point eight percent from a year earlier.

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Speaker 1: That's down from nine point one percent in January. It

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Speaker 1: did beat the estimate of eight point six percent, but

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Speaker 1: the spike in commodity since Russia invaded Ukraine may flip

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Speaker 1: these numbers. In March, meantime, consumer inflation was muted. The

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Speaker 1: CPI was unchanged at zero point nine percent, the same

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Speaker 1: as economists had projected. Curtis Bloomberg day Break, All right, Brian,

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Speaker 1: thanks on a programming note for today. Join us this

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Speaker 1: morning for a conversation with Bill Gross, the former Bond

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Speaker 1: Titan sits down for an interview on Bloomberg surveillance. Coming

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Speaker 1: up at eight thirty am. Wall Street Time Straight Ahead,

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Speaker 1: We'll bring you your latest local headlines and get a

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Speaker 1: check of sports. This is Bloomberg. It sounds six oh

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Speaker 1: seven on Wall Street, forty degrees in Central Park. Still

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Speaker 1: problems on New Jersey transit details coming up in Traffic

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Speaker 1: First Michael Barr with more on what's going on in

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Speaker 1: New York and around the world. Good morning, Michael, Good

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Speaker 1: morning Nathan. New Jersey Democratic Governor Phil Murphy has proposed

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Speaker 1: a forty eight point nine billion dollar budget, a boost

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Speaker 1: K through twelve funding, makes a full public pension payment

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Speaker 1: for the second straight year, and redistributes nearly a billion

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Speaker 1: dollars in property tax relief. Murphy unveiled the proposal during

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Speaker 1: a speech and the Assembly Chamber, and I'm proud across

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Speaker 1: our first four years working together, we cut taxes from

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Speaker 1: class and working families and seniors fourteen times. New Jersey

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Speaker 1: had better than expected sales and income tax collections. Governor

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Speaker 1: Murphy also talked about the Russian invasion in Ukraine. Our

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Speaker 1: administration is assessing what financial or business exposure we may

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Speaker 1: have to the Russian government or Russian owned business interests

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Speaker 1: or securities, including in our pension funds. Governor Murphy says

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Speaker 1: the administration will make sure state taxpayer dollars are not

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Speaker 1: supporting Russia. Florida's controversial legislation, which affects discussions about sexual

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Speaker 1: orientation and gender in public classrooms, is on its way

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Speaker 1: to the Florida Governor's desk. LGBTQ advocates dubbed it the

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Speaker 1: Don't Say Gay Bill. The Biden administration has denounced the

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Speaker 1: bill as anti lgbt Q. However, supporters say the bill

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Speaker 1: would not keep people from talking about the issues in classrooms,

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Speaker 1: but change curriculum and lessons on it. A Texas man

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Speaker 1: was convicted of storming the US Capitol with a holstered handgun.

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Speaker 1: The jury also convicted Guy Refit of interfering with police

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Speaker 1: officers who were guarding the capital. On January six, Democrats

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Speaker 1: and Republicans in Congress struck a deal on a long

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Speaker 1: delayed one point five trillion dollars spending bill that would

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Speaker 1: fund the US government through the rest of the fiscal year.

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Speaker 1: It also provides the thirteen point six billion dollars to

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Speaker 1: respond to Russia's invasion of Ukraine. A bipartisan bill to

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Speaker 1: reform the US Postal Service and give it a much

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Speaker 1: needed financial boost easily passed the Senate. The House passed

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Speaker 1: it earlier. In The bill now heads to President Biden's desk.

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Speaker 1: Senate Majority Leader Chuck Schumer of New York. We passed

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Speaker 1: strong bipartisan legislation. It's a win win, win for bipartisanship,

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Speaker 1: for our postal workers, and a win for tens of

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Speaker 1: millions of Americans who rely on the post Office every day,

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Speaker 1: Senator Schumer. Global News twenty four hours a day on

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Speaker 1: air and on Bloomberg Quicktake, powered by more than twenty

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Speaker 1: seven hundred journalists analysts more than a hundred twenty countries.

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Speaker 1: Michael Barr, this is Bloomberg, Nathan. Thank you, Michael, almost

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Speaker 1: sixth ten of all Street time for the Bloomberg Sports

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Speaker 1: Update with John Stener Nathan. It comes under the heading

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Speaker 1: of We've seen this before, but there is some growing

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Speaker 1: optimism that the baseball lockout might be coming to an

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Speaker 1: NL though once before there was a long meeting and

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Speaker 1: did not lead to a labor deal with two sides.

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Speaker 1: Just had a seventeen hour bargaining session. It lasted until

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Speaker 1: just a few hours ago, and they're coming back for

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Speaker 1: more today. They not only did not cancel another week's

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Speaker 1: worth of regular season games, as they threatened to do,

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Speaker 1: but one bargaining chip now used by the owners is

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Speaker 1: squeezing in a one hundred and sixty two game season

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Speaker 1: playing the games that got canceled a week ago. What

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Speaker 1: is they in the NFL offseason? First, Aaron Rodgers resigning

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Speaker 1: in Green Bay, ending a year long talk of him

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Speaker 1: leaving a retirety at about two hundred million reasons to

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Speaker 1: stay with the Packers. That's the size of his new

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Speaker 1: four year deal with Green Bay. Denver wanted Rogers. When

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Speaker 1: that fell through, the Broncos treated for us So Wilson.

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Speaker 1: The Seahawks get three players, two first round draft picks

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Speaker 1: and two second rounders in return. The Broncos have leading

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Speaker 1: a better quarterback, but since Peyton Manning retired, the NEETs

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Speaker 1: in Charlotte, Tyrie Irving plays road games, and what a

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Speaker 1: game he played. In thirty eight minutes, Irving scored fifty points.

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Speaker 1: He shot fifteen of nineteen, made nine of twelve three poonders,

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Speaker 1: his fifth career fifty point game. The Nets Peto Hornets

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Speaker 1: one two one twenty one. They played tomorrow in Philadelphia

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Speaker 1: against their old friend James Hard of the Knicks Plate

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Speaker 1: Tonight in Dallas, Rangers lost in Minnesota five to two.

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Speaker 1: The Devils beat the NHL leading Colorado Avalanche five three. St.

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Speaker 1: John's plays De Paul Tonight, bigg East Tournament at the Guard,

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Speaker 1: James stash Heller, Bloomberg Sports All right, John, thank you.

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Speaker 1: SMP futures now up seventy points, sound futures up four

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Speaker 1: hundred ninety five. Nets at Future is on the rise

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Speaker 1: by two hundred sixty seven points to ten. Your treasury

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Speaker 1: is down fifteen thirty seconds, the yield one point nine percent.

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Speaker 1: Nime X crew down two point four at a hundred

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Speaker 1: twenty dollars seventy three cents of barrel. You're listening to

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Speaker 1: Bloomberg Daybreak Bloomberg eleven three oh weather, some rains and

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Speaker 1: let snow, especially north and west of the city. Will

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Speaker 1: get up to the upper thirties today, upper forties, partly

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Speaker 1: sunny tomorrow, mix of sun and clouds. Friday wind behind

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Speaker 1: your fifty right now forty in Central Park Markets. Headlines

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Speaker 1: and breaking news twenty four hours a day at Bloomberg

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Speaker 1: dot com, the Bloomberg Business at and at Bloomberg Quick Tape,

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Speaker 1: He's a Bloomberg Business clash and I'm Karen Moscow and

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Speaker 1: Futures are on the rise this morning, as dip Fire's

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Speaker 1: waiter that the global economic impact of escalating sanctions on

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Speaker 1: Russia is already reflected in market prices. We checked the

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Speaker 1: markets every fifteen minutes throughout the trading day. On Bloomberg

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Speaker 1: s and P Future is up sixty seven points down

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Speaker 1: Future is up four hundred sixty four and Nasdag Future

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Speaker 1: is up two hundred sixty eight. That's up to per

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Speaker 1: cent decks. In Germany's at four point nine percent. The

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Speaker 1: ten year treasury down fourteen thirty seconds. He had one

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Speaker 1: point eight nine percent yield on the two year one

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Speaker 1: two point two percent, down two dollars seventy eight cents

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Speaker 1: and a hundred twenty cents a barrel. Comics goal down

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Speaker 1: one point two percent on twenty three dollars seventy cents,

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Speaker 1: a two thousand, nineteen dollars announced. The euro one point

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Speaker 1: nine six seven against the dollar. British found one point

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Speaker 1: three one six seven and the yen at one fifteen

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Speaker 1: point eight six Bitcoin this morning is up almost ten

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Speaker 1: percent at forty two thousand, two hundred fifty dollars. That's

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Speaker 1: a Bloomberg business flash. Now here's Michael Barr with more

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Speaker 1: on what's going on around the world. Michael Karen, thank

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Speaker 1: you very much. Yukraine's deputy prime minister says Russia agreed

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Speaker 1: to open humanitarian corridors in parts of the country for

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Speaker 1: twelve hours to allow civilians to escape from several cities.

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Speaker 1: It comes as the US warned that Russian forces were

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Speaker 1: intensifying their bombardment of Kiev. Locked out players in Major

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Speaker 1: League Baseball bargain into the early morning hours after commission

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Speaker 1: to rob Manford's deadline to reach a deal preserving a

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Speaker 1: one hundred sixty two games season past with no announcement.

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Speaker 1: The Signs were negotiating on a number of key economic issues,

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Speaker 1: including the luxury tax and minimum salaries in the NBA,

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Speaker 1: the Nets and Warriors one in the NHL, the Devil's

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Speaker 1: and Capitals one. The Rangers lost Global news twenty four

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Speaker 1: hours a day on here and on Bloomberg Quick Take,

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Speaker 1: powered by more than twenty seven hundred journalists and analysts

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Speaker 1: and more than a hundred twenty countries. I'm MICHAELA. Bar

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Speaker 1: This is Bloomberg. This is the Big Take, the best

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Speaker 1: to Bloomberg's in depth original reporting from around the globe.

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Speaker 1: We're running on a financial system that's running on old

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Speaker 1: technology proces, which fresh recordized what unfolds in mid terms

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Speaker 1: we will no doubt see again in the next presidential election.

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Speaker 1: The Big Take on Bloomberg Radio coming up to six

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Speaker 1: twenty on Wall Street Life from the Bloomberg Interactive Broker Studios.

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Speaker 1: This is Bloomberg Daybreak, and our big take this morning

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Speaker 1: is on the war in Ukraine and how it's forced

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Speaker 1: Europe to take suddenly drastic steps to read consider its

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Speaker 1: energy needs now that Russian oil and gas are becoming

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Speaker 1: much less of an option. Now. Bloomberg Climate and renewable

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Speaker 1: energy reporter Will Mathis joins us now for more on

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Speaker 1: this story. Will, good morning. Good to have you with us.

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Speaker 1: I know Europe had been on a timeline to shift

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Speaker 1: to more renewables, but now it looks like, all of

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Speaker 1: a sudden they've got to really ramp things up here. Yeah,

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Speaker 1: that's right. It's gone from a timeline of decades to

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Speaker 1: days and months. And it's not just renewables, but also

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Speaker 1: you know, how do you shift the sources of fossil

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Speaker 1: fuels away from Russia by all means necessary? And so

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Speaker 1: we looked at all the options we could, um, talk

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Speaker 1: to experts in fossil fuels, coal, gas, but also you know,

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Speaker 1: new technology, solar and wind and and and try to

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Speaker 1: figure out, you know, how can they ramp this up

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Speaker 1: as fast as possible if they are now approaching this

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Speaker 1: with you know, a wartime urgency. So let's talk about

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Speaker 1: at least the short term options for Europe. I mean,

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Speaker 1: just about anything they think of is going to take

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Speaker 1: a little bit of time, isn't it. Um. Yeah, I

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Speaker 1: mean the quickest things you can change are changing the

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Speaker 1: kinds of fossil fuel as you're you're using. That would

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Speaker 1: be you know, switching from from gas to coal, which

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Speaker 1: is a much more polluting fuel. Um. And you know,

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Speaker 1: even Europe's climates are fronts Timmerman's, who you know a

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Speaker 1: year ago would have never advocated for using more coal

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Speaker 1: even in the short term, is now saying, you know,

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Speaker 1: nothing is taboo, everything is possible. So probably Europe is

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Speaker 1: going to burn a lot more cold this year with

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Speaker 1: gas prices at the at the incredibly high prices they are,

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Speaker 1: and also trying to use as little imports from from

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Speaker 1: Russia as they can. But even if they go to

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Speaker 1: more coal consumption, I mean, that's got to run up

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Speaker 1: against as you mentioned, the the greenhouse gas emission limits

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Speaker 1: that Europe has. Doesn't that take some kind of agreement

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Speaker 1: among all the EU member blocks to run up against

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Speaker 1: those limits? Um, it doesn't. It's going to be costly

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Speaker 1: because Europe has a you know, a cap and trade

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Speaker 1: system that puts a price on carbon emissions. But even

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Speaker 1: if they're burning more coal in the short term, they're

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Speaker 1: not talking about building more coal plants. So it's just

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Speaker 1: you know, using what they have already and uh, you know,

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Speaker 1: running them full throttle and at the same time investing

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Speaker 1: much faster in the alternatives. So you know, we we

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Speaker 1: looked at a calculation that you know, if they took

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Speaker 1: out some of the planning bottlenecks and and use some

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Speaker 1: policies to accelerate solar development, which is the quickest way

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Speaker 1: to add renewable power capacity, that they could build um

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Speaker 1: as much this year as we probably wouldn't have expected

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Speaker 1: until so bring out the development timeline by by six years.

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Speaker 1: So just just jumping ahead, um um, you know, as

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Speaker 1: quickly as they can. I mean, if they even go

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Speaker 1: to solar and wind, I mean, does that make up

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Speaker 1: for the lost capacity that they get from Russian oil

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Speaker 1: and gas? No? I mean if if um Russian you know,

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Speaker 1: so far, you know Europe has been buying lots of

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Speaker 1: Russian gas, even even more gas has been flowing since

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Speaker 1: Russia invaded Ukraine than before. So so for now that

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Speaker 1: this UM cut off is just theoretical. But um, you know,

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Speaker 1: if if it was the stuff following, they couldn't make

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Speaker 1: up for it um overnight or even in a year

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Speaker 1: with renewables. But they can make investments now that will

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Speaker 1: be there for for decades to come and and cut

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Speaker 1: that dependence for the long term. Just about thirty seconds

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Speaker 1: left here. Well, what about nuclear? I know France has

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Speaker 1: a pretty robust nuclear industry and have been putting pressure

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Speaker 1: on a lot more European nations to to think about

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Speaker 1: that as well. Is that something that's on the table. Uh,

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Speaker 1: it is, But you know the biggest you know, nuclear

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Speaker 1: takes longtime. New plans often take you know, a decade

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Speaker 1: to to build, so even if they wanted to do that,

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Speaker 1: it wouldn't be here anytime soon. The most immediate thing

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Speaker 1: they could do was would be keep the nuclear plans

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Speaker 1: online that they are planning to shut off, and the

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Speaker 1: main place for that is Germany, and the German government

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Speaker 1: so far does not seem interested in making that choice,

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Speaker 1: and so they're actually gonna most likely use even less

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Speaker 1: nuclear power after this year. Some big decisions ahead that

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Speaker 1: have to be decided on very quickly. Here Will mathis

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Speaker 1: Bloomberg News. Thanks for this. Much more on the Big

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Speaker 1: Take story this morning. You can find it at Bloomberg

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Speaker 1: dot com, Slash Big Take or n I Big Take

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Speaker 1: go on the Bloomberg terminal. SFP futures right now have

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Speaker 1: seventy five points south. Futures up five and thirty eight.

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Speaker 1: Nastac features up, nim X crew down two hundred, twenty

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Speaker 1: dollars twenty six cents of barrel. This is Bloomberg Bloomberg

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Speaker 1: eleven three oh Weather clouds, little rain, maybe a little

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Speaker 1: wet snow, upper thirties, partly sunny, upper forties tomorrow, mix

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Speaker 1: of sunning, clouds, windy Friday, with a high near fifty.

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Speaker 1: Right now forty in Central Park, broadcasting live from the

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Speaker 1: Bloomberg Interactive Broker Studio in New York. Bloomberg E Living

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Speaker 1: Freedom to Washington, d C, Bloomberg one to Boston, Bloomberg

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Speaker 1: one O six one to San Francisco, Bloomberg not sixt

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Speaker 1: to the Country, Sirius XM too one nine T and

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Speaker 1: around the globe the Bloomberg Business app and Bloomberg Radio

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Speaker 1: dot Com. This is Bloomberg Daybreak, and it's six thirty

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Speaker 1: on Wall Street. Good morning, I'm Nathan Hager and I'm

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Speaker 1: Karen Moscow or just about three hours away from the

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Speaker 1: open of US trading. Time for the five things you

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Speaker 1: need to notice. Start your day onto you by I

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Speaker 1: b k R Investment Advisers switched to Interactive Brokers for

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Speaker 1: lowest cost global trading and turnkey custody solutions, no ticket

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Speaker 1: charges and no conflicts of your interests at I b

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Speaker 1: k R dot com slash R I A. And we

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Speaker 1: begin with the war in Ukraine. The US says Russian

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Speaker 1: forces are intensifying their strikes on a capital city of Kiev.

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Speaker 1: Ukrainian President vladimir's Lensky says his military will continue to

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Speaker 1: defend their land we will not give up. We will

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Speaker 1: not lose. We will fight till the end, at sea,

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Speaker 1: in the air. We will continue fighting for our land

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Speaker 1: whatever the cost. We will fight in the forests, in

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Speaker 1: the fields, on the shores, in the streets. President Zelenski

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Speaker 1: says he will stay in Kiev as long as it's

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Speaker 1: necessary to win the war. Like here in the U. S. Karen,

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Speaker 1: President Biden announced plans to curb Russian oil imports. This

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Speaker 1: is a step that we're taking to inflict further pain Onputin,

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Speaker 1: but there will be cost as well. Here in the

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Speaker 1: United States. I said I would level with the American

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Speaker 1: people from the beginning, and when I first spoke to this,

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Speaker 1: I said, defending freedom is gonna cost. It's gonna cost

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Speaker 1: us as well. After those words, and President Biden, House

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Speaker 1: Democrats unveiled legislation to ban Russian oil imports. Of votes

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Speaker 1: expected today and checking prices now, Nimex screwed is lower

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Speaker 1: by three point two percent, down at a hundred nineteen

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Speaker 1: dollars eighty seven cents. Of barrel Brent is down three

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Speaker 1: percent at four dollars cents. Nathan Aalistic companies of spending

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Speaker 1: operations are pulling out of Russia keeps growing, and we

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Speaker 1: get the latest live from Bloomberg's Randa Young. Good morning, Ranita,

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Speaker 1: Good morning Karen. Iconic brands like Starbucks, Coca Cola, and

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Speaker 1: McDonald's are the latest to pull out of Russia. The

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Speaker 1: coffee chain's partner in the country is pausing operations, and

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Speaker 1: we'll give support to the nearly two thousand partners who

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Speaker 1: depend on the company for their livelihood. PayPal is also

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Speaker 1: suspending business in Russia, and PepsiCo says it'll stop soft

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Speaker 1: drink sales in the country, but we'll continue to sell

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Speaker 1: daily essentials like baby formula and milk lie in New York.

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Speaker 1: I'm gonna need a young Bloomberg debriak. We need to

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Speaker 1: thanks the Russian roubles weakening sharply. This morning. Before the

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Speaker 1: war was trading around eighty per dollar. Right now it's

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Speaker 1: weakened more than a hundred thirty five per dollar. Meantime,

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Speaker 1: Bitcoin is surging. Nathan has jumped about forty two thousand

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Speaker 1: thanks to optimism about the US overhaul of crypto oversight.

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Speaker 1: Treasury Secretary Janet Yellen calls an upcoming executive order from

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Speaker 1: the White House. Quote historic President Boden will sign an

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Speaker 1: executive order later today which mandates government agencies take a

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Speaker 1: closer look at issues from developing a potential digital US

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Speaker 1: dollar to combating illicit finance. And this is Bloomberg, right, Karen,

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Speaker 1: Thanks six thirty three on Wall Street. Little rain this morning,

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Speaker 1: forty degrees in Central Park, and we have lingering problems

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Speaker 1: on New Jersey trans at the Peter Vanal tell about shortly. First,

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Speaker 1: Michael Bars here with more on what's going on in

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Speaker 1: New York and around the world. Good morning, Michael, Good

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Speaker 1: morning Nathan. New Jersey Governor Phil Murphy has proposed a

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Speaker 1: forty eight point nine billion dollar budget boost k through

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Speaker 1: twelve funding and redistry abutes nearly a billion dollars in

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Speaker 1: property tax relief. We've been able to provide more relief

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Speaker 1: and better opportunities for everybody else. We've been able to

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Speaker 1: better support our public schools. We've been able to meet

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Speaker 1: our full annual pension obligation. Governor Murphy also talked about

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Speaker 1: the war in Ukraine. We will take whatever actions are

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Speaker 1: needed to ensure New Jersey taxpayer dollars are not supporting

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Speaker 1: Putin's on lawful invasion of Ukraine. Murphy says they are

430
00:24:31,240 --> 00:24:33,520
Speaker 1: taking a look to see whether there are any Russian

431
00:24:33,560 --> 00:24:37,199
Speaker 1: owned entities in their pension fund. Democrats and Republicans in

432
00:24:37,240 --> 00:24:39,919
Speaker 1: Congress struck a deal on a long delayed one point

433
00:24:39,960 --> 00:24:43,160
Speaker 1: five trillion dollars spending bill that would fund the US

434
00:24:43,240 --> 00:24:45,639
Speaker 1: government through the rest of the fist school year. It

435
00:24:45,720 --> 00:24:49,600
Speaker 1: provides thirteen point six billion dollars to respond to Russia's

436
00:24:49,600 --> 00:24:53,880
Speaker 1: invasion of Ukraine. Florida's Parental Rights and Education Bill has

437
00:24:53,920 --> 00:24:56,720
Speaker 1: passed in the state Senate, and Governor around the Santa

438
00:24:56,800 --> 00:24:59,359
Speaker 1: says he will sign it. The bill has been dubbed

439
00:24:59,359 --> 00:25:03,320
Speaker 1: that Don't Say Gay Bill by LGBTQ activists, which says

440
00:25:03,560 --> 00:25:08,080
Speaker 1: lessons on quote sexual orientation or gender identity may not

441
00:25:08,200 --> 00:25:12,080
Speaker 1: occur in kindergarten through third grade. The first person to

442
00:25:12,119 --> 00:25:14,639
Speaker 1: go on trial over charge of stemming from the January

443
00:25:14,680 --> 00:25:18,280
Speaker 1: six riot was found guilty of obstruction of Congress and

444
00:25:18,400 --> 00:25:22,240
Speaker 1: other counts. Texas Militia Group member Guy Raffitt, was convicted

445
00:25:22,240 --> 00:25:25,280
Speaker 1: of all five counts brought against him in Washington following

446
00:25:25,320 --> 00:25:28,879
Speaker 1: a six day trial. Raffit's wife, Nicole, claims the trial

447
00:25:29,240 --> 00:25:31,679
Speaker 1: was just a way to scare others who stormed the

448
00:25:31,720 --> 00:25:40,440
Speaker 1: Capitol and to intimidate the other members that the one

449
00:25:40,480 --> 00:25:45,160
Speaker 1: sixers all fight together. The jury deliberated for less than

450
00:25:45,200 --> 00:25:47,760
Speaker 1: four hours. A prayer vigil was held last night in

451
00:25:47,800 --> 00:25:50,680
Speaker 1: Missouri for a Japlin police officer who died after being

452
00:25:50,720 --> 00:25:53,879
Speaker 1: shot to Other officers were hospitalized in the incident. The

453
00:25:53,920 --> 00:25:57,119
Speaker 1: suspect is also dead. Adam Miller is the chief of

454
00:25:57,160 --> 00:26:01,600
Speaker 1: the nearby Goodman Police Department. We're all family here, um,

455
00:26:02,040 --> 00:26:05,200
Speaker 1: you know, and we go through tragedy events like this.

456
00:26:05,320 --> 00:26:08,880
Speaker 1: We we're all morning, Chief Miller says. That started when

457
00:26:08,920 --> 00:26:11,800
Speaker 1: officers trying to take a suspect involved in a disturbance

458
00:26:11,800 --> 00:26:14,720
Speaker 1: in the custody and the chasing suit. Global News twenty

459
00:26:14,720 --> 00:26:17,400
Speaker 1: four hours a day on air and on Bloomberg Quick Take,

460
00:26:17,480 --> 00:26:20,440
Speaker 1: powered by more than twenty d journalists and analysts in

461
00:26:20,520 --> 00:26:22,800
Speaker 1: more than a hundred twenty countries. On Michael Barr, This

462
00:26:22,800 --> 00:26:30,359
Speaker 1: is Bloomberg NA. Thanks Michael. Just about six thirty six

463
00:26:30,359 --> 00:26:32,840
Speaker 1: on Wall Street and John Stashowers here at the Bloomberg

464
00:26:32,920 --> 00:26:35,199
Speaker 1: Sports Update. Thanks to day. If today's a big day

465
00:26:35,200 --> 00:26:38,080
Speaker 1: in the baseball lockout, either it ends and they'll play ball,

466
00:26:38,240 --> 00:26:40,879
Speaker 1: or another week's worth of regular season games will be

467
00:26:40,960 --> 00:26:43,040
Speaker 1: canceled and the owners will have to take off the

468
00:26:43,119 --> 00:26:46,320
Speaker 1: table the concession they made yesterday that they'll play the

469
00:26:46,400 --> 00:26:49,200
Speaker 1: games that they canceled a week ago. The two sides

470
00:26:49,240 --> 00:26:52,240
Speaker 1: began a bargaining session at ten yesterday morning. It went

471
00:26:52,640 --> 00:26:55,760
Speaker 1: until three this morning, and they'll be back from more

472
00:26:55,760 --> 00:26:58,639
Speaker 1: talk today. Aaron Rodgers staying in Green Babe, but Russell

473
00:26:58,680 --> 00:27:01,760
Speaker 1: Wilson on the move quite a day in the NFL offseason.

474
00:27:01,880 --> 00:27:05,120
Speaker 1: Rogers said he was unhappy in Green Bay, not anymore.

475
00:27:05,240 --> 00:27:08,399
Speaker 1: New four year, two hundred million dollar deal for the

476
00:27:08,480 --> 00:27:10,280
Speaker 1: m v P the last two seasons. He's not only

477
00:27:10,320 --> 00:27:12,960
Speaker 1: the NFL's highest paid player, he gets to keep his

478
00:27:13,080 --> 00:27:16,440
Speaker 1: star wide out to Dante Adams, who got the franchise tag. Wilson,

479
00:27:16,920 --> 00:27:20,439
Speaker 1: unhappy with the team's decline in Seattle, traded to Denver.

480
00:27:20,600 --> 00:27:23,520
Speaker 1: The Seahawks get three players in a boatload of draft picks.

481
00:27:23,560 --> 00:27:26,240
Speaker 1: Wilson QB the Seahawks for eleven years, took them to

482
00:27:26,600 --> 00:27:30,159
Speaker 1: two Super Bowls one championship. Only two backcourt players in

483
00:27:30,280 --> 00:27:33,560
Speaker 1: NBA history have scored fifty points while making seventy five

484
00:27:33,640 --> 00:27:37,000
Speaker 1: percent of their shots, Michael Jordan's and Kyrie Irving. Last

485
00:27:37,119 --> 00:27:39,920
Speaker 1: night in Charlotte against the team Jordan owns. Irving went

486
00:27:39,960 --> 00:27:42,840
Speaker 1: for fifty shot fifteen of nineteen. The next week the

487
00:27:42,840 --> 00:27:45,639
Speaker 1: Hornet's one two, one twenty one to get back to

488
00:27:45,680 --> 00:27:48,719
Speaker 1: five hundred. Rangers lost in Minnesota five two. Devils beat

489
00:27:48,760 --> 00:27:52,320
Speaker 1: Colorado five three. The Northeast Conference Final did not go

490
00:27:52,440 --> 00:27:56,879
Speaker 1: well for Wagner. Fell behind at Bryant thirty six to six,

491
00:27:57,080 --> 00:27:59,359
Speaker 1: lost seventy to forty three, and it was along delay

492
00:27:59,440 --> 00:28:01,359
Speaker 1: late in the game a nasty fight broke out in

493
00:28:01,400 --> 00:28:04,320
Speaker 1: the stands. Season is over from Manhattan. Lost at the

494
00:28:04,359 --> 00:28:06,919
Speaker 1: Matt Turney, I own a place. Tonight Big East Tournament

495
00:28:07,000 --> 00:28:10,280
Speaker 1: starts the Garden st John's plays the Paul John dash

496
00:28:10,359 --> 00:28:14,000
Speaker 1: Award's Bloomberg Sports Nathan Okay, John, thank you, the sixty

497
00:28:14,000 --> 00:28:16,400
Speaker 1: seven on Wall Street. Let's get more on this morning's

498
00:28:16,440 --> 00:28:20,200
Speaker 1: market action with Bloomberg Television anchor markets reporter Danny Berger.

499
00:28:20,800 --> 00:28:23,400
Speaker 1: Plenty of action this morning, Danny, this looks like a

500
00:28:23,480 --> 00:28:27,439
Speaker 1: classic by the dead moment. Yeah, yeah, it does. Always action,

501
00:28:27,520 --> 00:28:30,080
Speaker 1: but really the opposite action today that we have seen,

502
00:28:30,160 --> 00:28:33,440
Speaker 1: and I say opposite, opposite to the degree where if

503
00:28:33,440 --> 00:28:35,879
Speaker 1: you look at what's rallying the most in Europe today,

504
00:28:35,960 --> 00:28:38,800
Speaker 1: it's the things that have been beaten down the most

505
00:28:38,840 --> 00:28:42,920
Speaker 1: since Russia invaded Ukraine. So things like Otto's banks, those

506
00:28:42,960 --> 00:28:45,120
Speaker 1: are all doing really well. So you get this picture

507
00:28:45,120 --> 00:28:48,840
Speaker 1: where stocks as a whole arolling really strongly today. But

508
00:28:49,280 --> 00:28:52,720
Speaker 1: because it is a rally in these really oversold names,

509
00:28:52,760 --> 00:28:56,320
Speaker 1: there's this question that's whether there's anything fundamental behind today's

510
00:28:56,400 --> 00:28:59,760
Speaker 1: rally or just investors trying to scoop up some sheep bargains.

511
00:29:00,200 --> 00:29:02,600
Speaker 1: What are we seeing in terms of volume? Is there

512
00:29:02,600 --> 00:29:05,440
Speaker 1: a lot of buying going on right now? There actually

513
00:29:05,640 --> 00:29:09,480
Speaker 1: is a decent amount. Last I looked which w V

514
00:29:09,600 --> 00:29:11,680
Speaker 1: I on the terminal is where I do that. It's

515
00:29:11,720 --> 00:29:15,520
Speaker 1: it's about fifty percent higher than it has been over

516
00:29:15,560 --> 00:29:18,000
Speaker 1: the past twenty days in terms of volume. So yeah,

517
00:29:18,080 --> 00:29:21,120
Speaker 1: dip buying in some conviction behind it. Now you mentioned

518
00:29:21,120 --> 00:29:23,959
Speaker 1: autos and banks some of the over sold names. Are

519
00:29:24,000 --> 00:29:27,600
Speaker 1: we seeing this across sectors? This this rally going on

520
00:29:27,720 --> 00:29:31,840
Speaker 1: right now, we are is saved for the sectors that

521
00:29:32,000 --> 00:29:36,000
Speaker 1: have done well over the past thirteen days, so energy

522
00:29:36,080 --> 00:29:40,479
Speaker 1: for example, UM materials, because we've seen oil rally. A

523
00:29:40,480 --> 00:29:43,560
Speaker 1: lot of those energy names have done well over the

524
00:29:43,600 --> 00:29:47,000
Speaker 1: past thirteen days since the war started. UM. But with

525
00:29:47,160 --> 00:29:50,239
Speaker 1: oil falling today, still at very high levels. Some of

526
00:29:50,280 --> 00:29:53,479
Speaker 1: those sectors aren't doing better. So again adds to this

527
00:29:53,520 --> 00:29:55,960
Speaker 1: picture that what we're seeing today is the inverse of

528
00:29:55,960 --> 00:29:58,360
Speaker 1: what we've seen over the last week. Yeah, you shouldn't

529
00:29:58,320 --> 00:30:01,240
Speaker 1: be too big a surprise there with the declines in

530
00:30:01,440 --> 00:30:03,880
Speaker 1: crude we're seeing this morning. What are you gonna be

531
00:30:03,920 --> 00:30:07,600
Speaker 1: looking for as we head towards the US open, Well,

532
00:30:07,760 --> 00:30:10,800
Speaker 1: it's sir, it is an expectation just looking at what

533
00:30:10,880 --> 00:30:13,560
Speaker 1: US features are doing, that they will also have this

534
00:30:13,640 --> 00:30:16,360
Speaker 1: dip buying mentality. But I continue to look in this

535
00:30:16,400 --> 00:30:20,960
Speaker 1: market for any signs of anxiety, any economic anxiety. You

536
00:30:21,040 --> 00:30:25,280
Speaker 1: have an ECB meeting tomorrow, um, and you know, we

537
00:30:25,320 --> 00:30:27,080
Speaker 1: want to get a taste of how central banks are

538
00:30:27,120 --> 00:30:30,520
Speaker 1: going to handle this. Inflation is so high because of

539
00:30:30,640 --> 00:30:33,560
Speaker 1: all of these supply chain issues brought on again by

540
00:30:33,640 --> 00:30:37,960
Speaker 1: Russia oil being banned. So inflation is really high. But

541
00:30:38,280 --> 00:30:41,880
Speaker 1: can the economy sustain interest rate hikes if that's what

542
00:30:41,960 --> 00:30:43,960
Speaker 1: the Fed does, And so you see areas of where

543
00:30:44,000 --> 00:30:46,560
Speaker 1: that's that stresses playing out in markets. For example, the

544
00:30:46,640 --> 00:30:50,720
Speaker 1: yield curve very very thin right now, many expectations that

545
00:30:50,800 --> 00:30:53,560
Speaker 1: it will invert. So while everyone's buying the dip. I

546
00:30:53,720 --> 00:30:58,920
Speaker 1: am internally skeptic on everything and looking for that all right, Yeah,

547
00:30:58,920 --> 00:31:02,360
Speaker 1: the ECB meetings on of course that CPI print from

548
00:31:02,360 --> 00:31:04,520
Speaker 1: the Labor department as well. We'll be watching those numbers

549
00:31:04,640 --> 00:31:09,120
Speaker 1: very closely. Bloomberg Markets reporter and TV anchor Danny Burger

550
00:31:09,240 --> 00:31:11,680
Speaker 1: with us this morning as we watch futures move higher.

551
00:31:11,760 --> 00:31:15,200
Speaker 1: M S ANDP futures up sixty four points, Nasdaq futures

552
00:31:15,320 --> 00:31:22,840
Speaker 1: up two hundred fifty six. This is Bloomberg Bloomberg eleven

553
00:31:22,880 --> 00:31:25,240
Speaker 1: three oh weather, little rain, little wet snow, especially north

554
00:31:25,280 --> 00:31:27,240
Speaker 1: and west of the city. HIGs in the upper thirties today,

555
00:31:27,240 --> 00:31:30,040
Speaker 1: will be in the upper forties, partly sunny Tomorrow, clouds

556
00:31:30,080 --> 00:31:32,680
Speaker 1: and sun windy Friday with a high near fifty right

557
00:31:32,720 --> 00:31:38,440
Speaker 1: now forty and rain in Central Park. Markets. Headlines and

558
00:31:38,640 --> 00:31:41,840
Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com,

559
00:31:42,000 --> 00:31:45,560
Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape. She's

560
00:31:45,600 --> 00:31:55,200
Speaker 1: a Bloomberg Business Flash and I'm Karin Moscow. Futures on

561
00:31:55,240 --> 00:31:57,160
Speaker 1: the rise this morning. We got the first word breaking

562
00:31:57,240 --> 00:31:59,800
Speaker 1: news dash for today's morning call. And here's Bill Maloney.

563
00:32:00,000 --> 00:32:02,880
Speaker 1: A good morning, Hey, good morning care and that's right.

564
00:32:02,960 --> 00:32:05,520
Speaker 1: US features are surging right now, with the futures up

565
00:32:05,560 --> 00:32:09,680
Speaker 1: seven four hundred seventeen points, subs game fifty six, nastic

566
00:32:09,760 --> 00:32:13,120
Speaker 1: futures rise by two hundred and thirty five. The US

567
00:32:13,320 --> 00:32:15,800
Speaker 1: ten yeld at one point eight nine percent, Gold and

568
00:32:15,880 --> 00:32:19,479
Speaker 1: oil are both sinking, and bitcoin is climbing by nine percent.

569
00:32:19,880 --> 00:32:21,920
Speaker 1: European markets are also in the green, led by four

570
00:32:21,960 --> 00:32:24,960
Speaker 1: percent games in France, Germany and Italy, and back in

571
00:32:25,000 --> 00:32:27,400
Speaker 1: the US on the economic front and ten o'clock jolts

572
00:32:27,520 --> 00:32:30,760
Speaker 1: job openings. In other news, the US is probing Barry

573
00:32:30,840 --> 00:32:34,520
Speaker 1: Diller's bets on Activision before the Microsoft deal, and in

574
00:32:34,600 --> 00:32:37,600
Speaker 1: the commodity space, Indonesia to boost nickel output by up

575
00:32:37,640 --> 00:32:41,960
Speaker 1: to four hundred thousand tons. In two grabbing things up,

576
00:32:42,040 --> 00:32:43,960
Speaker 1: jad Hunt was raised to buy over at Bowman sax

577
00:32:44,000 --> 00:32:48,160
Speaker 1: Emerson Electric was raised to outperform over at Oppenheimer. Live

578
00:32:48,280 --> 00:32:50,440
Speaker 1: from the first Rebecca News dost coom Bill Maloney, care

579
00:32:51,080 --> 00:32:52,720
Speaker 1: all right, Phil, thank you to here live breaking news

580
00:32:52,800 --> 00:32:55,400
Speaker 1: of your Bloomberg type squawk on your terminal. Sc you

581
00:32:55,560 --> 00:32:58,160
Speaker 1: a w K. That's a Bloomberg business flash. Now here's

582
00:32:58,200 --> 00:33:00,640
Speaker 1: Michael Barrow with more on what's going on around the world.

583
00:33:00,760 --> 00:33:03,840
Speaker 1: Michael Karen, thank you very much. Vice President Harris is

584
00:33:03,880 --> 00:33:06,760
Speaker 1: heading to Poland this morning. The trip comes amid a

585
00:33:06,840 --> 00:33:10,480
Speaker 1: disagreement between Poland and the US over Ukraine getting Poland's

586
00:33:10,520 --> 00:33:14,040
Speaker 1: fighter jets. Meanwhile, there's a new effort to evacuate civilians

587
00:33:14,120 --> 00:33:17,240
Speaker 1: out of Ukraine. More than two million civilians have left

588
00:33:17,280 --> 00:33:20,560
Speaker 1: the country. Negotiators for locked out players in Major League

589
00:33:20,600 --> 00:33:23,600
Speaker 1: Baseball bargain into the early morning hours to preserve a

590
00:33:23,640 --> 00:33:26,840
Speaker 1: one hundred sixty two games season. They'll resume later today.

591
00:33:27,240 --> 00:33:30,040
Speaker 1: In the NBA, the Nets and Boarriors one. In the NHL,

592
00:33:30,120 --> 00:33:33,280
Speaker 1: the Devils and Capitals one. The Rangers lost. So NFL news,

593
00:33:33,320 --> 00:33:36,280
Speaker 1: the Broncos have agreed to its trade for quarterback Russell

594
00:33:36,360 --> 00:33:39,320
Speaker 1: Wilson from the Seahawks. QB Aaron Rodgers will stay with

595
00:33:39,360 --> 00:33:41,520
Speaker 1: the Packers in a four year deal reported to be

596
00:33:41,600 --> 00:33:45,080
Speaker 1: worth two hundred million dollars. Global News twenty four hours

597
00:33:45,160 --> 00:33:48,040
Speaker 1: a day on air and on Bloomberg Quick Tank, powered

598
00:33:48,080 --> 00:33:50,800
Speaker 1: by more than twenty seven hundred journalist and analysts in

599
00:33:50,880 --> 00:33:53,120
Speaker 1: more than a hundred twenty countries. I'm Michael Barr. This

600
00:33:53,240 --> 00:33:58,560
Speaker 1: is Bloomberg. The following commentary is from Bloomberg Opinion. Why

601
00:33:58,640 --> 00:34:02,040
Speaker 1: revived the commute when mass is so pricey? I'm brook Sutherland,

602
00:34:02,120 --> 00:34:05,520
Speaker 1: a columnist for Bloomberg Opinion. Russia's invasion of Ukraine is

603
00:34:05,560 --> 00:34:08,560
Speaker 1: fueling sticker shock at the pump for Americans and sharpening

604
00:34:08,600 --> 00:34:11,640
Speaker 1: already uneasy feelings about inflation. Why then, are we in

605
00:34:11,719 --> 00:34:13,960
Speaker 1: such a hurry to end pandemic era work from home

606
00:34:14,040 --> 00:34:17,160
Speaker 1: policies and force employees to commute to offices Again, there

607
00:34:17,239 --> 00:34:19,440
Speaker 1: is a cost in keeping wide spats of the working

608
00:34:19,520 --> 00:34:22,600
Speaker 1: population out of city skyscrapers, But there's also a cost

609
00:34:22,680 --> 00:34:25,680
Speaker 1: to resuming the pre pandemic daily grind, one that's become

610
00:34:25,719 --> 00:34:29,440
Speaker 1: only more acute as Russia's hostilities and increasingly aggressive sanctions

611
00:34:29,480 --> 00:34:33,200
Speaker 1: in response send shockwaves through energy markets. The average national

612
00:34:33,280 --> 00:34:35,920
Speaker 1: cost of gas hit four seventeen a gallon on Monday,

613
00:34:36,080 --> 00:34:38,960
Speaker 1: a record before adjusting for inflation. According to Triple A,

614
00:34:39,280 --> 00:34:41,640
Speaker 1: both the European Union in the US are racing to

615
00:34:41,719 --> 00:34:45,239
Speaker 1: rejigger their energy strategies as Western leaders contemplate ways to

616
00:34:45,320 --> 00:34:48,479
Speaker 1: increase the economic penalties for Russia. But these policies would

617
00:34:48,480 --> 00:34:51,200
Speaker 1: be more effective and ultimately less painful at home if

618
00:34:51,239 --> 00:34:53,799
Speaker 1: governments consider the demand side of the equation as well.

619
00:34:54,000 --> 00:34:56,920
Speaker 1: It helps that working from home is incredibly popular as

620
00:34:56,960 --> 00:35:00,719
Speaker 1: far as patriotic sacrifices go. Avoiding the office can isn't easy,

621
00:35:00,800 --> 00:35:03,320
Speaker 1: So I'm brook Sutherland. For more opinion, please go to

622
00:35:03,360 --> 00:35:06,000
Speaker 1: Bloomberg dot com, slash Opinion or O P I N

623
00:35:06,080 --> 00:35:09,560
Speaker 1: go on the Bloomberg terminal. This has been Bloomberg Opinion

624
00:35:09,920 --> 00:35:12,719
Speaker 1: and Bloomberg Opinion commentaries can be heard every weekday at

625
00:35:12,760 --> 00:35:15,279
Speaker 1: this time, and terminal customers can read more at O

626
00:35:15,440 --> 00:35:19,759
Speaker 1: P I n go. It is currently six fifty on

627
00:35:19,880 --> 00:35:22,759
Speaker 1: Wall Street. Returned to news and science and technology now

628
00:35:22,840 --> 00:35:25,279
Speaker 1: with the Bloomberg and j I T STEM Report. It

629
00:35:25,360 --> 00:35:28,040
Speaker 1: has brought to you by New Jersey Institute of Technology

630
00:35:28,400 --> 00:35:31,680
Speaker 1: and j I T makes Infrastructure ready graduates from civil

631
00:35:31,760 --> 00:35:35,440
Speaker 1: engineers to transportations specialists. If it's infrastructure and j I

632
00:35:35,560 --> 00:35:37,640
Speaker 1: T grads are building it. More at n j I

633
00:35:37,760 --> 00:35:40,840
Speaker 1: T dot e DU Now here's just making news and science, technology,

634
00:35:40,920 --> 00:35:44,480
Speaker 1: engineering and math. A study estimates over one d seventy

635
00:35:44,520 --> 00:35:46,960
Speaker 1: million people born in the US who were adults in

636
00:35:47,080 --> 00:35:51,360
Speaker 1: ten were exposed to harmful levels of lead as children,

637
00:35:51,719 --> 00:35:53,920
Speaker 1: and a paper published in the Proceedings of the National

638
00:35:54,000 --> 00:35:57,520
Speaker 1: Academy of Sciences researchers estimated that half of the US

639
00:35:57,560 --> 00:36:02,279
Speaker 1: adult population and have exposed to lead levels surpassing five

640
00:36:02,520 --> 00:36:05,680
Speaker 1: micrograms per deci leader the Centers of Disease Control and

641
00:36:05,719 --> 00:36:10,000
Speaker 1: Prevention threshold for harmful lead exposure. At the time. Scientists

642
00:36:10,000 --> 00:36:13,719
Speaker 1: have found the oldest known ancestor of octopuses and approximately

643
00:36:13,800 --> 00:36:17,360
Speaker 1: three hundred thirty million year old fossil unearthed in Montana.

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Speaker 1: The researchers concluded the ancient creature lived millions of years

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00:36:20,920 --> 00:36:24,640
Speaker 1: earlier than previously believed, meaning that octopuses originated before the

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00:36:24,800 --> 00:36:27,960
Speaker 1: era of dinosaurs. The four point seven inch fossil has

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00:36:28,080 --> 00:36:31,799
Speaker 1: ten limbs. Modern octopuses have eight, each with two rows

648
00:36:31,920 --> 00:36:35,400
Speaker 1: of suckers. And Apple has introduced five G versions of

649
00:36:35,480 --> 00:36:37,920
Speaker 1: its low end iPhone and iPad air tablet, as well

650
00:36:37,960 --> 00:36:42,600
Speaker 1: as a redesigned Mac desktop computer and faster processor. Apple

651
00:36:42,719 --> 00:36:46,520
Speaker 1: unveiled the devices during a virtual event yesterday. CEO Tim

652
00:36:46,560 --> 00:36:49,359
Speaker 1: Cook also announced plans to bring Major League Baseball games

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00:36:49,400 --> 00:36:52,080
Speaker 1: to the company streaming service and as a Bloomberg and

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00:36:52,200 --> 00:36:55,080
Speaker 1: j I T Stem report. Nathan, all right, Karen, thank you.

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Speaker 1: We are live from the Bloomberg Interactive Broker studios where

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Speaker 1: it's six fifty two on Wall Street Time Now to

657
00:36:59,600 --> 00:37:01,439
Speaker 1: check what's going on d C. Some of the tough

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00:37:01,480 --> 00:37:04,400
Speaker 1: stories in our nation's capital include House Democrats unveiling a

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00:37:04,440 --> 00:37:07,680
Speaker 1: measure to bann Russian oil imports, Congress reaching a deal

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00:37:07,760 --> 00:37:11,240
Speaker 1: on government spending in Ukraine. AID and Vice President Kamala

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00:37:11,280 --> 00:37:14,240
Speaker 1: Harris headed to Poland and Romania to discuss next steps

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00:37:14,239 --> 00:37:17,279
Speaker 1: on Ukraine Bloomber Government. Reporter Emily Wilkins joins US Now

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00:37:17,520 --> 00:37:20,600
Speaker 1: from the nation's capital. Emily, good morning. Of course, we

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Speaker 1: heard President Biden announced the ban on Russian oil and

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00:37:24,560 --> 00:37:29,920
Speaker 1: Congress is acting next. Yes, so Congress is expected to

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00:37:30,040 --> 00:37:32,959
Speaker 1: vote today on a ban for Russian oil that would

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00:37:33,040 --> 00:37:37,239
Speaker 1: include a couple of other sanctions measures against Russia as well. UH,

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00:37:37,360 --> 00:37:41,080
Speaker 1: it would start reviewing Russia's access to the World Trade Organization,

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Speaker 1: and then it calls for strengthens a act that calls

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00:37:45,200 --> 00:37:48,719
Speaker 1: for stanctions on human rights offenders. So those two additional

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00:37:48,840 --> 00:37:52,320
Speaker 1: measures would also be in the legislation. One thing that

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00:37:52,440 --> 00:37:54,319
Speaker 1: won't be there and kind of held up the bill

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00:37:54,320 --> 00:37:57,280
Speaker 1: a little bit yesterday, was it doesn't include a provision

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00:37:57,440 --> 00:38:01,400
Speaker 1: provoking permanent normal trade relations at US for Russia. Now,

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00:38:01,520 --> 00:38:05,239
Speaker 1: this was something that was bipartisan. UH. Lawmakers on both

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00:38:05,280 --> 00:38:08,040
Speaker 1: sides wanted it, but the White House actually stepped in

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00:38:08,200 --> 00:38:10,439
Speaker 1: and said, Hey, we'd like to discuss this a little

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00:38:10,480 --> 00:38:13,399
Speaker 1: bit more with our European allies. Can we hold off

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00:38:13,440 --> 00:38:16,200
Speaker 1: on this bit for now? And so Congress is going

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00:38:16,280 --> 00:38:19,520
Speaker 1: forward with the legislation that's going to be voted on today,

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00:38:19,920 --> 00:38:22,719
Speaker 1: along with a one point five trillion dollars spending bill

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00:38:22,760 --> 00:38:24,640
Speaker 1: to fund the government. It's going to be a busy

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00:38:24,719 --> 00:38:27,840
Speaker 1: day up on Capitol Hill. Yeah, you're interesting. You mentioned

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00:38:28,080 --> 00:38:32,200
Speaker 1: the deal finally cut on government spending for the rest

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00:38:32,320 --> 00:38:35,600
Speaker 1: of this year. It also inclodes even more Ukraine aid

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00:38:35,680 --> 00:38:39,760
Speaker 1: than President Biden asked for, Yes, thirteen point six billion.

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00:38:39,800 --> 00:38:42,440
Speaker 1: We've seen that number just continually go up. I think

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00:38:42,520 --> 00:38:45,239
Speaker 1: that really speaks to the amount of support that you're

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00:38:45,239 --> 00:38:48,799
Speaker 1: seeing for Ukraine from Congress. I've seen lawmakers from both

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00:38:48,880 --> 00:38:52,760
Speaker 1: parties UH sporting neither sunflowers or blue and white pins

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00:38:53,160 --> 00:38:56,759
Speaker 1: or ribbons showing their support for Ukraine. But this is

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00:38:56,840 --> 00:38:59,480
Speaker 1: the funding bill that lawmakers have been pushing for for

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00:38:59,640 --> 00:39:02,279
Speaker 1: a while. SILE at this point, um it'll avert a

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00:39:02,360 --> 00:39:05,320
Speaker 1: government shutdown. Although there could be the need for a

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00:39:05,480 --> 00:39:09,600
Speaker 1: short term UH stopgap funding measure. But putting this out

696
00:39:09,680 --> 00:39:13,239
Speaker 1: today UH means that lawmakers are going probably going to

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00:39:13,320 --> 00:39:17,120
Speaker 1: avert that government shutdown and then fully fund the government. UH.

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00:39:17,360 --> 00:39:20,320
Speaker 1: This is important because right now the government is funded

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00:39:20,840 --> 00:39:24,600
Speaker 1: on spending levels set during the Trump administration. So Biden

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00:39:24,680 --> 00:39:27,960
Speaker 1: and the Biden administration and the Democrats have wanted to

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00:39:28,040 --> 00:39:30,560
Speaker 1: get these new funding levels out for a while now.

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00:39:31,200 --> 00:39:33,960
Speaker 1: And on top of all the activity going on on

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00:39:34,160 --> 00:39:37,160
Speaker 1: Capitol Hill, of course, we have Vice President Kamala Harris

704
00:39:37,239 --> 00:39:41,840
Speaker 1: heading to Poland today to continue the diplomatic efforts surrounding

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00:39:41,920 --> 00:39:44,800
Speaker 1: the war in Ukraine. And this comes at a really

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00:39:45,000 --> 00:39:48,920
Speaker 1: interesting time with this dispute going on over Polish fighter

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00:39:49,040 --> 00:39:52,120
Speaker 1: jets and whether they can go into Ukraine. Yeah, we've

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00:39:52,120 --> 00:39:54,839
Speaker 1: seen these debates about you know, Poland suggesting that they

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00:39:54,880 --> 00:39:57,480
Speaker 1: could send these dutchs to the US, the US saying,

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00:39:57,560 --> 00:39:59,480
Speaker 1: you know, they need to go to Ukraine. The big

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00:39:59,520 --> 00:40:03,280
Speaker 1: concern here, Nathan, of course, is that with these jets,

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00:40:03,760 --> 00:40:07,439
Speaker 1: is this going to escalate the situation? Will Russian see

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00:40:07,520 --> 00:40:11,080
Speaker 1: this as an escalation and will they respond um in

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00:40:11,160 --> 00:40:13,600
Speaker 1: a way that could wind up bringing the war to

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00:40:13,760 --> 00:40:17,600
Speaker 1: a wider europe and so that's the delicate situation that

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00:40:18,080 --> 00:40:20,120
Speaker 1: Vice President Harris is going to have to deal with

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00:40:20,280 --> 00:40:23,759
Speaker 1: here as she goes abroad. Uh. We know that she's

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00:40:23,800 --> 00:40:26,360
Speaker 1: going to be meeting with the Polish president at the

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00:40:26,400 --> 00:40:29,560
Speaker 1: Canadian Prime Minister, and that she's also going to have

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00:40:29,640 --> 00:40:32,480
Speaker 1: a meeting with the Romanian president as well. And just

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Speaker 1: quickly our last thirty seconds here, what's this say about

722
00:40:35,120 --> 00:40:39,520
Speaker 1: Vice President Harris's just widening portfolio here? She has so

723
00:40:39,719 --> 00:40:44,560
Speaker 1: much on her play to now going into direct diplomatic

724
00:40:44,640 --> 00:40:48,520
Speaker 1: negotiations around the Ukraine War. I think a lot of

725
00:40:48,640 --> 00:40:51,520
Speaker 1: this just talks about how much the Biden administration needs

726
00:40:51,560 --> 00:40:55,040
Speaker 1: to be focused right now on Ukraine. Certainly you have

727
00:40:55,239 --> 00:40:58,600
Speaker 1: President Biden's own schedule UM that you know it is

728
00:40:58,640 --> 00:41:01,799
Speaker 1: dealing with a lot right now with both Ukraine as

729
00:41:01,840 --> 00:41:04,480
Speaker 1: well as of course talking to the American people, UM

730
00:41:04,719 --> 00:41:07,719
Speaker 1: and other news. In the cabinet, you're seeing Energy Secretary

731
00:41:07,800 --> 00:41:10,680
Speaker 1: Jennifer Granholm, She's going to be actually having some meetings

732
00:41:11,160 --> 00:41:16,600
Speaker 1: with oilmakers executives from Shell and Exxon over potentially upping

733
00:41:16,680 --> 00:41:19,320
Speaker 1: the US production of gas and oil, which is of

734
00:41:19,400 --> 00:41:22,960
Speaker 1: course something that lawmakers UH and politicians are looking at

735
00:41:23,040 --> 00:41:26,239
Speaker 1: doing as they moved to band Russian oil from the

736
00:41:26,440 --> 00:41:29,040
Speaker 1: from the US lots to keep on top of Bloomberg.

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00:41:29,040 --> 00:41:32,960
Speaker 1: Government reporter Emily Wilkins. Thank you as always, Karen Nathan.

738
00:41:33,000 --> 00:41:35,040
Speaker 1: It is SAX fifty six on Wall Street. This is

739
00:41:35,080 --> 00:41:38,600
Speaker 1: Bloomberg Daybreak and Marches Women's History Month, and every day

740
00:41:38,640 --> 00:41:42,200
Speaker 1: this month were celebrating significant moments in women's history. Now

741
00:41:42,320 --> 00:41:45,200
Speaker 1: with your installment for March nine, here's Bloomberg's reed to

742
00:41:45,280 --> 00:41:48,719
Speaker 1: Young on this day in Women's History. In nineteen fifty nine,

743
00:41:49,120 --> 00:41:52,960
Speaker 1: Ruth Handler, a co founder of Mattel, introduces Barbie to

744
00:41:53,040 --> 00:41:55,760
Speaker 1: the world. She brought it to crowd that the American

745
00:41:55,840 --> 00:41:59,200
Speaker 1: International Toy Fair in New York. The inspiration for the

746
00:41:59,239 --> 00:42:02,200
Speaker 1: doll began and Handler was traveling in Europe and her

747
00:42:02,239 --> 00:42:06,160
Speaker 1: fifteen year old daughter, Barbara spotted a German lily doll.

748
00:42:06,760 --> 00:42:09,040
Speaker 1: But as the years went on, Barbie would be mocked

749
00:42:09,120 --> 00:42:13,720
Speaker 1: as outdated and sexist, and criticized for promoting a largely white,

750
00:42:13,920 --> 00:42:17,680
Speaker 1: gendered image of beauty with an unrealistic body image. But

751
00:42:17,800 --> 00:42:21,440
Speaker 1: in night Mattel started to become more inclusive when it

752
00:42:21,560 --> 00:42:25,520
Speaker 1: introduced the first black Barbie, and today Barbie's dolls come

753
00:42:25,560 --> 00:42:27,920
Speaker 1: in more than twenty skin tones, close to a hundred

754
00:42:27,960 --> 00:42:31,840
Speaker 1: hair colors, a dozen eye colors, and five body types.

755
00:42:32,360 --> 00:42:37,040
Speaker 1: Those changes served Barbie well because in Barbie generated its

756
00:42:37,160 --> 00:42:41,640
Speaker 1: best sales growth in two decades. Ranita Young, Bloomberg Radio,

757
00:42:41,960 --> 00:42:44,640
Speaker 1: All right, Ranida, thank you, Bloomberg surveillances straight ahead for

758
00:42:44,800 --> 00:42:48,080
Speaker 1: Nathan Hager. I'm Karen Moscow and this is Bloomberg