Speaker 1: Live from the Bloomberg Interactive Burger Studios. This is Bloomberg
Speaker 1: Dave Break for Tuesday, March eight. Coming up this hour,
Speaker 1: U s lawmakers make plans to ban Russian oil as
Speaker 1: crude prices continue to climb. Moscow threatens to cut off
Speaker 1: natural gas applies to Europe. Sticker shock at the pump
Speaker 1: as US gas prices hit an all time record and
Speaker 1: the S and P five hundred comes off its worst
Speaker 1: day since Octloober of New York City prepares for the
Speaker 1: possibility of cyber attack by Russia. Plus President Bible sign
Speaker 1: and executive order regulating cryptocurrency. Michael Larger, More ahead, I'm
Speaker 1: John stas Shower and sports, A big night for Julius
Speaker 1: Randolly led the next the Victory and Sacramento the Islanders
Speaker 1: lost to Colorado. That's all straight Ahead on Bloomberg day
Speaker 1: Break on Bloomberg Elementary on New York, Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties,
Speaker 1: San Francisco, Sirius x M one nineteen and around the
Speaker 1: world Old on Bloomberg Radio dot Com and via The
Speaker 1: Bloomberg Business. Good Morning, I'm Karen Moscow. I'm Nathan Hagar.
Speaker 1: Bloomberg Daybreak brought to you by Interactive Brokers Simple i
Speaker 1: b k R Global Trader app. Deposit in your local
Speaker 1: currency and trade stocks in the US, Europe and Asia.
Speaker 1: Start your free trial at I b k R dot com,
Speaker 1: Slash Global Trader and US futures are higher this morning
Speaker 1: after the biggest one day loss for stocks since it
Speaker 1: is six o one on Wall Street. We checked the
Speaker 1: markets every fifteen minutes throughout the trading day on Bloomberg.
Speaker 1: Right now, SMP futures are out fifteen points down, Future
Speaker 1: is up eighty NASDACK futures up twenty one. The decks
Speaker 1: in Germany's up six tenths of percent ten. Your treasury
Speaker 1: down nineteen thirty seconds. You have one point eight four percent,
Speaker 1: and they yield on the two year is at one
Speaker 1: point six zero percent. NIMEX screwed oil is up two
Speaker 1: point eight percent at two dollars sixty seven cents of barrel. Nathan, Okay, Karen,
Speaker 1: We'll have more on the markets in a minute, but first,
Speaker 1: the latest on the war in Ukraine. Russia is threatening
Speaker 1: to cut off down tro gas supplies to Europe through
Speaker 1: the Nord Stream one pipeline fence in response to sanctions
Speaker 1: for the US, Europe and their allies. Russian President Vladimir
Speaker 1: Putin says the war will continue until all his demands
Speaker 1: are met, but Ukrainian President Vladimir Zolenski says it's not
Speaker 1: that simple. This is another ultimatum and we are not
Speaker 1: prepared for ultimatums. What needs to be done is for
Speaker 1: President Putting to stop talking, start the dialect, instead of
Speaker 1: living in the informational bubble without oxygen. I think that's
Speaker 1: why he is Ukrainian President Zolenski spoke to ABC News.
Speaker 1: Russia and Ukraine say they will talk again today about
Speaker 1: establishing humanitarian quarters for civilians. The head of the u
Speaker 1: n's refugee agency says the number of people fleeing the
Speaker 1: fighting has now topped two million. Meantime, on Capitol Hill,
Speaker 1: Nathan lawmakers are working to ramp up pressure on Moscow.
Speaker 1: They've come up with a plan to ban in boards
Speaker 1: of Russian oil into the US. Amy Morris has details
Speaker 1: from mar Bloomberg newsroom in Washington. Biden administration officials have
Speaker 1: been working out what the economic repercussions might be for
Speaker 1: U S cons sumers. The agreement would also give President
Speaker 1: Biden the power to boost tariffs on other imports from
Speaker 1: Russia and Belarus. It would seek a suspension of Russia's
Speaker 1: participation in the World Trade Organization. The White House has
Speaker 1: been noncommittal. White House Press Secretary Jen Psaki says no
Speaker 1: decision has been made yet. The best thing we can
Speaker 1: do is reduced our dependence on fossil fuels and foreign
Speaker 1: oil so that we're not worried about gas prices going
Speaker 1: up because of the whims of a foreign dictator. The
Speaker 1: House of Representatives could vote on the proposal as soon
Speaker 1: as tomorrow in Washington. I maybe more as Bloomberg daybreak right, Amy, thanks,
Speaker 1: Once again, we're seeing major market moves tied to the
Speaker 1: war in Ukraine. Let's get the very latest from Bloomberg's
Speaker 1: John Tucker Live in New York. John Nathan disruption to
Speaker 1: energy markets and brought her uncertainty sent the down, Jones
Speaker 1: and dustrial lanverage down two point four percent in Monday's session,
Speaker 1: SMB five lost nearly three percent, the NAZAC got pummeled
Speaker 1: down three point six per Well, this morning, some risk
Speaker 1: sentiment has returned the stocks and you're up along with
Speaker 1: US futures. After we reported that the European Union is
Speaker 1: considering joint bond sales to help counter the fallout from
Speaker 1: the war. Our sources say the bond sale proposal may
Speaker 1: be presented as soon as next week. On another front,
Speaker 1: the London Medal Exchange halted trading in its nickel market
Speaker 1: after an unprecedented price bike left brokers struggling to pay
Speaker 1: margin calls live in New York on John Tucker Bloomberg
Speaker 1: Day Break. All right, John, thank you. The oil prices
Speaker 1: are searching again this morning. If penalties hit Russian crew,
Speaker 1: there's likely no way to replace that production. That's according
Speaker 1: to OPEC Secretary General Mohammed Barkindo, how do we survive
Speaker 1: this crisis? There is no capacity in the world at
Speaker 1: the moment that country place seven million barrels of exports.
Speaker 1: OPEC Secretary General Mohammed Barkindo describes Russia's war against Ukraine
Speaker 1: as a humanitarian tragedy and checking prices now nine ex
Speaker 1: screwed oil is a two point nine hundred five cents
Speaker 1: of barrel is up three point one percent at a
Speaker 1: hundred twenty seven dollars a barrel, and gas prices have
Speaker 1: surged over the past two weeks. Karen, that's causing pain
Speaker 1: at the pump, but drivers say they'd be willing to
Speaker 1: pay even more if it would end the war in Ukraine.
Speaker 1: We get the details from Bloomberg's Lisa Mateo. Gas prices
Speaker 1: are soaring, but many drivers are saying will pay more
Speaker 1: at the pump. That's according to a Quinnipiac poll, which
Speaker 1: found seventy one percent of Americans would support banning Russian
Speaker 1: oil even if it leads to higher gas prices. The
Speaker 1: national average for gas has reached four dollars and seventeen
Speaker 1: cents a gallon, according to Triple A. That tops the
Speaker 1: nationwide monthly record of four dollars and ten cents set
Speaker 1: back in two thousand and eight. In New York, I'm
Speaker 1: Lisa Mateo Bloomberg Daybreak, Right, Lisa, thank you well. As
Speaker 1: we're rages in Ukraine, top US intelligence officials are coming
Speaker 1: out with their annual threat assessment. The Office of the
Speaker 1: Director of National Intelligence sees a grim global outlook thanks
Speaker 1: to Russia and China. Bloomberg's Reedy Young joins US Live
Speaker 1: with the details. Good Morning, Ready Down, Good morning, Karen.
Speaker 1: The threat as Smith says China is developing one of
Speaker 1: the greatest nuclear weapons forces in history, while Russia will
Speaker 1: exploit every opportunity to undermine the US and its allies.
Speaker 1: The nation's top intelligence chiefs will testify about their report
Speaker 1: before the House Committee today. The assessment is used by
Speaker 1: Congress as a baseline to make critical decisions advanced legislation
Speaker 1: and craft budgets, but since it was written before Russia
Speaker 1: invaded Ukraine, lawmakers will likely press intelligence chiefs for the
Speaker 1: most current assessments during today's hearing. Live in New York,
Speaker 1: I'm reneed a young Bloomberg Daybreak, Nita. Thanks. When it
Speaker 1: comes to the assessment for markets, it's all about the
Speaker 1: fallout from the war and the future of FED policy.
Speaker 1: The Fed meets one week from today. Morgan Stanley CEO
Speaker 1: James Gorman says the Central Bank should still start rate
Speaker 1: hikes despite the war. Speaking in Sydney, he said the
Speaker 1: Fed needs to contain prices but also be careful not
Speaker 1: to tip the economy into recession. Well. In corporate news,
Speaker 1: Apple is holding its first product unveiling of twenty two.
Speaker 1: The event Cake software is expected to be its biggest
Speaker 1: year ever in terms of new devices. The company is
Speaker 1: poised to announce its first low cost iPhone SCU with
Speaker 1: five G capabilities, a new iPad Air and updated Max
Speaker 1: with Apple made ships. Again, futures are higher this morning
Speaker 1: and straight ahead your latest local headlines, plus a check
Speaker 1: of sports. And this is Bloomberg. He's scaring six seven
Speaker 1: on Wall Street, forty degrees in Central Park. The Morris
Speaker 1: exis Gladstone branch of New Jersey trans It's still suspended.
Speaker 1: The tails coming up in traffic. First Michael bar with
Speaker 1: more on what's going on in New York and around
Speaker 1: the world. Good morning, Michael, Good morning Nathan. New York
Speaker 1: City is preparing for the possibility of a cyber attack
Speaker 1: by Russia. The city's chief Technology Officer, Matthew Fraser says
Speaker 1: it could happen. We see the rights pop up periodically,
Speaker 1: though specifically associated to this heightened sense. We've seen an
Speaker 1: uptick um, but we're not aware of any campaign that's
Speaker 1: explicitly targeting the city itself. Tech officer Frazier says New
Speaker 1: York is on the old tra high alert following US
Speaker 1: and posed sanctions against Russia for where its ongoing invasion
Speaker 1: of Ukraine. The fear is Russia will try to retaliate.
Speaker 1: The NYPDS Deputy Commissioner John Miller. Weget that we're in
Speaker 1: a heightened threat um and we have been gearing up
Speaker 1: for that heightened threat to come along from our normal
Speaker 1: high alert to ultra high alert, and that's where we
Speaker 1: are the NYPDS. Miller says it's best to be ready
Speaker 1: just in case a homegrown terrorist strikes. President Joe Biden
Speaker 1: is expected to sign an executive order on cryptocurrency this
Speaker 1: week that will mark the first step toward regulating how
Speaker 1: digital currency is traded. The move comes as administration officials
Speaker 1: have raised concern in recent weeks about Russia's use of
Speaker 1: cryptocurrency to evade the impact of crushing sanctions. Tens of
Speaker 1: thousands of customers are without power in New York and
Speaker 1: New Jersey after a line of severe storm swept through
Speaker 1: the northeast. This man and Cedar Grove, New Jersey, spent
Speaker 1: the night at a neighbor's house after a tree alongside
Speaker 1: his home cut off his power and blocked his front door.
Speaker 1: Started rain, heard then all of a sudden, it sound
Speaker 1: like train went through and the wind was how and
Speaker 1: then he says they're waiting to see whether they can
Speaker 1: safely return to their house today. Jerry's selection begins today
Speaker 1: at the trial of four men who are accused of
Speaker 1: conspiring to kidnap Michigan Governor Gretchen Whitmer. The government says
Speaker 1: the men were upset about Whitmer's SCOVID nineteen restrictions, but
Speaker 1: defense lawyers claimed the four were groomed and cajoled by
Speaker 1: federal agents and informants. The CDC raised that SCOVID nineteen
Speaker 1: travel advisory for Hong Kong by one step to level
Speaker 1: four are very high, as the city's death rate is
Speaker 1: now the highest in the world. Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quick Take,
Speaker 1: powered by more than twenty seven hundred journalists and analysts
Speaker 1: more than a hundred twenty countries. Michael bar this is Bloomberg, Nathan,
Speaker 1: Thank you, Michael, almost six cent on moll Street. Time
Speaker 1: for the Bloomberg Sports Update with John Sinshower. All right, Nathan,
Speaker 1: biggest reason the Knicks so much better last season than
Speaker 1: this one. Julius Randall was so much better last season,
Speaker 1: and last night Randall was as good as he's ever been.
Speaker 1: Career high forty six points. He made eight three pointers
Speaker 1: and the Knicks turned the table. Somebody blown leads lately.
Speaker 1: This time they made the comeback from twenty down. They
Speaker 1: wanted Sacramento one one fifth team. The Knicks had their
Speaker 1: first two game winning streaking nearly two months. San Antonio
Speaker 1: beat the Lakers, who were playing without Lebron James. Gregg
Speaker 1: Popovich ties Don Nelson's record for most coaching day. The
Speaker 1: Islanders welcomed in the NHL's best team. Colorado moved thirty
Speaker 1: games over five hundred, scored four goals and a span
Speaker 1: of less than four and a half minutes the third period,
Speaker 1: then held on beat the Islands five to four. March
Speaker 1: Madness Championship of the Southern Conference Tournament. One time, Bothwell
Speaker 1: drive all the way in his layoup is far with
Speaker 1: four point three seconds Laft David Jean Battis drives goes
Speaker 1: up three point on the way. The US call on
Speaker 1: Learfield chatt Erga Beef Ferman sixty four sixty three and
Speaker 1: over time. The Calvin Ridley story and not all that
Speaker 1: surprising considering the growth of sports betting, now legal in
Speaker 1: many states, so accessible with a touch of the phone.
Speaker 1: Ridley the Falcon star wide receiver admitted to making bets
Speaker 1: on NFL games, including bets on his team to win,
Speaker 1: although they were games he was not playing in regardless
Speaker 1: hit with a suspension of at least all of two
Speaker 1: it will cost Redley eleven billion. John Stallard bloomboo spoort Okay, John,
Speaker 1: thanks right now. SMP futures are higher up fourteen points,
Speaker 1: sound futures up eighty six dants AT futures on the
Speaker 1: rise by nine points. The ten Your treasury is down
Speaker 1: twenty one thirty seconds. The yield one point eight four
Speaker 1: per cent reaction to the market moves on the Warren Ukraine.
Speaker 1: Next with a Leisha levine of the n Y Melon.
Speaker 1: This is Bloomberg coming up to six twelve on Wall Street.
Speaker 1: Bloomberg day Break is brought to you by Audie. Don't
Speaker 1: let someone else drive off in the outie model. You've
Speaker 1: always wanted. Visit your tri state area autie dealer to
Speaker 1: get behind the wheel of yours today. Visit Autie offers
Speaker 1: dot com, markets, headlines and breaking news twenty four hours
Speaker 1: a day at Bloomberg dot Com and Bloomberg Business at
Speaker 1: and at Bloomberg Ticktape. Chris is a Bloomberg business lash,
Speaker 1: and I'm paren Moscow. We're seeing stocks in Europe trimming
Speaker 1: their advance, and so our Nasdack futures. We check the
Speaker 1: markets every fifteen minutes throughout the trading day. On Bloomberg
Speaker 1: SMP futures remain higher, up eleven points down futures up
Speaker 1: sixty five. On Nasdack futures are lower, little change now
Speaker 1: down about five. The decks in Germany is up half
Speaker 1: per set. Can your treasury down to twenty one thirty seconds?
Speaker 1: He had one four percent. They yield on the two
Speaker 1: year one point six one percent nine Extrade oil is
Speaker 1: up two point nine percent of three dollars fifty five
Speaker 1: cents and a hundred two eight cents of barrel comics.
Speaker 1: Gold is up nine tenths percent, or eighteen dollars thirty
Speaker 1: cents at an ounce. The euro one point eight nine
Speaker 1: six against the dollar, British pound one point three one
Speaker 1: one six, they nsit one fifteen point six six, and
Speaker 1: Bitcoin this morning is moving higher, up two point seven
Speaker 1: percent at thirty eight thousand, eight hundred sixty dollars. That's
Speaker 1: a Bloomberg business flash. Now here's Michael bar with more
Speaker 1: unless going on. Around the world. Michael Karen, thank you
Speaker 1: very much. Russia's top energy official threatened to cut off
Speaker 1: natural gas flows from the North Stream one pipeline. It
Speaker 1: escalates economic tensions with Europe as the war in Ukraine continues.
Speaker 1: Russia and Ukraine have said they will continue to hold
Speaker 1: talks on a potential ceasefire, although a third round of
Speaker 1: discussions produced little progress. US drivers are out paying more
Speaker 1: for gas lane than in any other time in history
Speaker 1: as demands surges and the war in Ukraine threatens global
Speaker 1: oil supplies. According to Triple A, the average pump prices
Speaker 1: in the US are now more than four dollars seventeen
Speaker 1: cents per gallant. California prices have surged to five dollars
Speaker 1: forty four cents a gallon. In the NBA, the nixt one,
Speaker 1: the Warriors lost in the NHL, the Islanders lost, the
Speaker 1: Bruins lost in ot to the King's Three to Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quick Tank, powered by more than twenty seven hundred
Speaker 1: journalists and analysts in more than a hundred twenty countries.
Speaker 1: I'm Michael Labar, this is Bloomberg. Nathan. Thanks Michael six nineteen,
Speaker 1: now on Wall Street Live from the Bloomberg Interactive Brokers studios.
Speaker 1: This is Bloomberg Daybreak and Alicia Levine is with us
Speaker 1: now head of Equities and Capital Market Advisory at B
Speaker 1: and y Melon Wealth Management, as we try to make
Speaker 1: sense of the violent market moves have been single the
Speaker 1: last few days on the latest headlines coming out of Ukraine. Alicia,
Speaker 1: good morning. Of course we're kind of off a big
Speaker 1: sell off in equities yesterday. Do you think this market
Speaker 1: hit capitulation? Good morning, Nathan and Grace to speak to
Speaker 1: you again. Look, I don't think we're at that capitulation
Speaker 1: moment just yet. Um, the fear and loathing is not
Speaker 1: quite there. The vix high as it is, really hasn't
Speaker 1: gone to a place which would really signal capitulation. And
Speaker 1: the other thing is the market just bouncing around in
Speaker 1: this kind of like this range between hundred. It's still
Speaker 1: in that range. It's really disconcerting is that range has
Speaker 1: been skewed to the downside and and the upside seems
Speaker 1: to be more limited, which suggests we have more to
Speaker 1: go on the downside. We're not there yet, and I
Speaker 1: think we're gonna more ugly days ahead of us before
Speaker 1: this is done. I don't I don't think this is
Speaker 1: fatal for the year. I just think that we're in
Speaker 1: a tough spot with all the uncertainty and the commodity
Speaker 1: price inflation. It does seem kind of weird. Ask what
Speaker 1: your outlook is for the rest of the year, given
Speaker 1: how much gyration we could see over the next few
Speaker 1: days and weeks. But I'm gonna put the question to you.
Speaker 1: Are you adjusting your outlook for the SMP for the
Speaker 1: rest of this year based on what's going on? So look,
Speaker 1: we we we are. Target is has does have a
Speaker 1: wider range. It is due to the downside. We see
Speaker 1: most of the risk really in the first half of
Speaker 1: the year. The Russian the Russian war with Ukraine added
Speaker 1: to the kind of uncertainty that we faced in an
Speaker 1: already squeamish market that was overvalued and worried about bed
Speaker 1: tightening with with some of the dynamics of inflation and
Speaker 1: fears of margin compression with US, and so this just
Speaker 1: made it worse. And it's also hard to model because
Speaker 1: it could change it any day. I think the biggest
Speaker 1: risk is really in the first half of the year,
Speaker 1: But we think ultimately, as long as the US doesn't
Speaker 1: go into recession, our base case is no recession, and
Speaker 1: therefore we see the market really stabilizing by midyear into
Speaker 1: the second half of the year. But it's a lot
Speaker 1: to get through in the next few weeks. You have
Speaker 1: to have a strong stomach. You can also pick up
Speaker 1: stocks here. You know, everything is getting thrown out with
Speaker 1: the bathwater, and so you want to be, you know, careful.
Speaker 1: But stocks that have had their multiple, their multiples come
Speaker 1: crashing down with good businesses um that have some pricing
Speaker 1: power to be pretty interesting here. So it's really tough
Speaker 1: to buy in a market like this. But this is
Speaker 1: also what we've learned that you buy when things really
Speaker 1: look terrible, and things do look pretty scary. Well, if
Speaker 1: this is turning into a stock pickers market, Alicia, what
Speaker 1: sectors are you looking at outperform right now? Look, it's tough.
Speaker 1: I mean I would I would, I would tell, I
Speaker 1: would tell most of your listeners. We I think we
Speaker 1: still have a ways to go on the downside here,
Speaker 1: So that's a tough one. But I there's several sectors,
Speaker 1: for instance, even though we're we are concerned about the
Speaker 1: low end consumer between gas prices to also the withdrawing
Speaker 1: a physical stimulus. We're worried about the low end. We
Speaker 1: think overall, if you look at the entire consumer picture,
Speaker 1: consumers in not bad shape, and we think a greater
Speaker 1: share of wallet is going to go towards travel and leisure.
Speaker 1: And in the last week or so, the travel and
Speaker 1: leisure stocks have really gotten decimated, So I mean, I
Speaker 1: think that's a place to look um. And obviously, energy
Speaker 1: we think will be a long term trend here. Hard
Speaker 1: to buy in the spice. Don't go run in and
Speaker 1: buy you know when oil is up in three weeks.
Speaker 1: But we do think that the picture around oil, the
Speaker 1: supply shortage, greater demands, will be upward pressure on oil prices,
Speaker 1: and therefore energy should do pretty well. We think some
Speaker 1: of the staple companies still look good. You know, we
Speaker 1: do see the low and consumer trading down to private label. Um,
Speaker 1: so some of those staple companies will do fairly well.
Speaker 1: And this is gonna sound very counterintuitive, but the banks
Speaker 1: have gotten decimated down mostly that you're to date, and
Speaker 1: and therefore, you know, if we're not going into a
Speaker 1: recession and defended hiking, some of the banks could be
Speaker 1: interesting here, so you know there, and of course defense
Speaker 1: defense spending in the US is probably going up eight
Speaker 1: percent in the next year in the new budget, and
Speaker 1: that also will be long term trend for for defense spending.
Speaker 1: You know, you really have to think of this moment
Speaker 1: as a regime change, higher inflation, higher defense spending, and
Speaker 1: I think in some way some of those companies that
Speaker 1: you know, our our our fathers and our grandfather's invested
Speaker 1: in will be some of the ones that will do
Speaker 1: well coming out of this. Great to have you on
Speaker 1: this morning, Alicia, Thanks for this, really appreciate it. Alicia Levine,
Speaker 1: head of Equities and Capital Market Advisory at b n
Speaker 1: y Melon Wealth Management. Looking ahead to the market, open
Speaker 1: futures are looking a bit higher at the moment, SMP
Speaker 1: futures of fourteen, down futures of ninety two points, and
Speaker 1: ASTAT futures are just a touch higher up eight point.
Speaker 1: You're listening to Bloomberg Daybreak, and Bloomberg Daybreak is brought
Speaker 1: to you by the Jewish Communal Fund JCFS. Donor Advised
Speaker 1: Fund is the smart choice to manager, philanthropy, maker, giving,
Speaker 1: organized and tax efficient. Visit j c F and y
Speaker 1: dot Org broadcasting live from the Bloomberg Interactive Broker Studio
Speaker 1: in New York. Bloomberg E Living Freedland to Washington, d C,
Speaker 1: Bloomberg to Boston, Bloomberg one O six one to San
Speaker 1: Francisco Bloomberg and M sixteen to the country Sirius XM
Speaker 1: to A one nine team, and around the globe the
Speaker 1: Bloomberg Business app and Bloomberg Radio dot com. This is
Speaker 1: Bloomberg Daybreak six thirty on Wall Street. Good morning of
Speaker 1: Nathan Hagar and I'm Karen Moscow. We're just about three
Speaker 1: hours away from the open of US trading. It's time
Speaker 1: for the five things you need to notice. Start your
Speaker 1: day Rozzy you by Interactive Brokers. Interactive Brokers charges Martin
Speaker 1: loan rates from zero point seven five percent to one
Speaker 1: point five eight percent rates subject to change. Learn more
Speaker 1: at ibk R dot com slash compare. We begin with
Speaker 1: the war in Ukraine. Moscow is threatening to cut off
Speaker 1: natural gas supplies to Europe. That's after a third round
Speaker 1: of toss between Russia and Ukraine failed to make progress.
Speaker 1: Bloomberg's at Baxter has the latest. Russia says it has
Speaker 1: heard nothing from Ukraine that would make a change direction,
Speaker 1: and Ukraine's President Volatimer Zolensky, in an exclusive ABC interview,
Speaker 1: says Russia just wants to make threats and issue ultimatums
Speaker 1: and then talking about Vladimir Putin through a translator, not
Speaker 1: the dialog, instead of living in the informational bubble without oxygen.
Speaker 1: I think that's why he is. And U S Secretary
Speaker 1: of State Anthony Blincoln has again rejected the plea for
Speaker 1: a no fly zoh and saying it could lead to
Speaker 1: widening the war in San Francisco. I'm at Baxter Bloomberg Daybreak,
Speaker 1: all right, and thanks the developments at a Capitol Hill
Speaker 1: as well. Congress has announced the outline of a bill
Speaker 1: to our imports of Russian oil to the US. The
Speaker 1: House could vote on the proposal as soon as tomorrow.
Speaker 1: On Wall Street, US futures are higher after yesterday's sell off.
Speaker 1: We get the latest live with the Bloomberg's John Tucker,
Speaker 1: John Karen Sentiment hands the improved on the heels of
Speaker 1: our report that the European Union is considering joint bond
Speaker 1: sales to help counter the fallout from Russia's invasion of Ukraine.
Speaker 1: The possibility for the Central Bank stimulus lifting sentiment. In
Speaker 1: yesterday's session, stocks were pummeled, with an AzaC tumbling over
Speaker 1: three and a half percent. Meantime, the London Metal Exchange
Speaker 1: suspended trading in nickel after a short squeeze drove the
Speaker 1: medals priced to more than double Live in New York.
Speaker 1: I'm John Tucker, Bloomberg Daybreak, John. Thanks, there's more paint
Speaker 1: at the pump this morning. US drivers are now paying
Speaker 1: the most ever for gas. Average prices have hit four
Speaker 1: doll their seventeen cents a gallant. Turple A says that's
Speaker 1: the highest in records going back more than twenty years. Well,
Speaker 1: it's more rages in Ukraine, Nathan. Top US intelligence officials
Speaker 1: are out with their annual threat assessment, a grim global
Speaker 1: outlook thanks to Russia and China and Bloomberg's we need
Speaker 1: a young joints US Live with the details. Good morning, Nida,
Speaker 1: Good morning Karen. The threat assessment says China is developing
Speaker 1: one of the greatest nuclear weapons forces in history, while
Speaker 1: Russia will exploit every opportunity to undermine the US and
Speaker 1: its allies. The nation's top intelligence chiefs will testify about
Speaker 1: their report before the House Committee today but since it
Speaker 1: was written before Russia invaded Ukraine, lawmakers will lifely likely
Speaker 1: press them for a more current assessment. Live in New York,
Speaker 1: I'm gonna need a Young Bloomberg daybreak. Okay, we need
Speaker 1: to thank you. Six thirty three on Wall Street, forty
Speaker 1: degrees in Central Park. Still dealing with the suspension the
Speaker 1: New Jersey Transits Morris Excess line. The tails coming up
Speaker 1: in traffic. First Michael Barr with mar What's going on
Speaker 1: in New York and around the world. Good morning, Michael,
Speaker 1: Good morning Nathan. Officials say Russian cyber attacks against the
Speaker 1: US are reality. The United States could be targeted and
Speaker 1: italiation for the sanctions levied against Russia for its invasion
Speaker 1: of Ukraine. Major cities like New York City are beefing
Speaker 1: up security. Senator Kristian Gilbrand of New York says the
Speaker 1: level of risk is very high. Russia's military attack on
Speaker 1: Ukraine's cities and buildings have happened in conjunction with cyber
Speaker 1: attacks waged on Ukraine's critical infrastructure, from its banks to
Speaker 1: departments of government, and there's no guarantee that those attacks
Speaker 1: will be limited to Ukraine. Senator Kristian Gillibrand. The NYPD
Speaker 1: says the city is on ultra high alert. President Joe
Speaker 1: Biden lands to sign an executive order on cryptocurrency this
Speaker 1: week in a step toward regulating how digital currency is trained.
Speaker 1: Administration officials are concerned about Russia's use of cryptocurrency to
Speaker 1: evade the impact of crushing sanctions in response to its
Speaker 1: invasion of Ukraine. A bill making lynching a federal hate
Speaker 1: crime is headed to President Joe Biden's desk for his signature.
Speaker 1: The Senate passed the him At Till Anti Lynching Act
Speaker 1: Senate majority of Leader Chuck Schumer. After more than two
Speaker 1: hundred failed attempts to outlaw lynching, Congress is finally succeeding
Speaker 1: in taking the long overdue action by passing the Emmett
Speaker 1: Till Anti Lynching Act. Senator Schumer says the bill is
Speaker 1: named after fourteen year old Emmett Till, who was lynched
Speaker 1: in Mississippi in nine In a victory for Democrats, the
Speaker 1: Supreme Court has turned away efforts from Republicans in North
Speaker 1: Carolina and Pennsylvania to block state court ordered congressional districting plans.
Speaker 1: The justices are allowing maps elected by each State Supreme
Speaker 1: Court to be an effect for the two elections. Members
Speaker 1: of the Congressional Black Caucus met with President Joe Biden
Speaker 1: about the release of w NBA star Brittney Griner, who
Speaker 1: was recently detained in an airport near Moscow. Congresswoman Sheila
Speaker 1: Jackson Lee of Texas represents the district where Grinder is from.
Speaker 1: We know that we have to move on her situation,
Speaker 1: and she is in a circumstance that would generate a
Speaker 1: ten year sentence. Many of us believe that this is unwarranted.
Speaker 1: Thirty one year old Grinder was arrested in Moscow after
Speaker 1: customs officials reportedly detected cannabis soil in her luggage. Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quittake, powered by more than twenty seven hundred journalists
Speaker 1: and analysts more than a hundred twenty countries. Michael bar
Speaker 1: this is Bloomberg. N okay, Michael, Thanks six thirty six
Speaker 1: on Wall Street. John Stash I was here at the
Speaker 1: Bloomberg Sports update. Are Nathan nicks off the win over
Speaker 1: the Clippers that ended the seven game who stream one
Speaker 1: night later moved North, fell behind and then last year's
Speaker 1: all Star led them Backs can take their first lead
Speaker 1: to the game with a three rad Let's it fly
Speaker 1: and hits for the right wing, and the knick Swans
Speaker 1: down twenty have come back. They lead. It's Sacrabato Randall
Speaker 1: at the left wing steps out great pointer got Julius
Speaker 1: Randall with thirty five points. She's matched the season high
Speaker 1: WPN and it calls the Knicks fight the King's one
Speaker 1: thirty one to one fifteen. They scored forty four points
Speaker 1: the third quarter in Randall, who was so good last year,
Speaker 1: not nearly as good this season. Finn It's with a
Speaker 1: career high forty six points. R J. Barrett had at
Speaker 1: twenty nine emmanual quickly at twenty seven. The u B
Speaker 1: s Arena wild third period, Colorado scored four goals in
Speaker 1: the span of just over four minutes and led five
Speaker 1: to one. The Islanders rallied at the league leading Avalanche
Speaker 1: held on win five four nows A lost five or
Speaker 1: the last seven. The Seahawks of Wagner College, with a
Speaker 1: win tonight in Smithfield, Rhode Island, over Bryant College will
Speaker 1: win the Northeast Conference Tournament and advanced NCY double as
Speaker 1: Manhattan plays Wider in the MAC Tourney in Atlantic City
Speaker 1: in the a CEC Tournament against tonight at the Parkment Center.
Speaker 1: Jets owner Woody Johnson now wants to buy Chelsea FC
Speaker 1: of the English Premier League, currently owned by a Russian Oligarth.
Speaker 1: The price tag said to be about two and a
Speaker 1: half billion dollars. If it's Tuesday, it must be time
Speaker 1: to cancel. Another week of the baseball regular season. Happened
Speaker 1: week ago. It will happen again tonight if there's no
Speaker 1: lockout Indy Labor deal. The owners did up the number
Speaker 1: for a competitive balanced pack. The big Game sash that
Speaker 1: where Bloomberg's feels okay, John thanks at six thirty seven
Speaker 1: on Wall Street. Let's get more now and what's happening
Speaker 1: in this morning's market. Bloomberg television anchor and markets reporter
Speaker 1: Danny Berger is with us now and Danny, we were
Speaker 1: just talking with Alicia Levine a few minutes ago from
Speaker 1: ben Y mel and she says, you need a strong
Speaker 1: stomach to be in this market right now. It sure
Speaker 1: feels that way, Yeah, it definitely does. I kind of
Speaker 1: get the feeling that day after day we look at
Speaker 1: some new asset that has moved parabolic and kind of
Speaker 1: this feeling that you know, things are breaking today. It
Speaker 1: was certainly the turn of nickel on the elm um
Speaker 1: that did have trading suspended, but it does just feel
Speaker 1: like we're in this environment where an asset is having
Speaker 1: crazy moves everywhere you look, right. I mean you I've
Speaker 1: seen it almost described as like meme stock moves in
Speaker 1: some of these commodities. I mean, what's the react action
Speaker 1: from a lot of the market participants you've been speaking
Speaker 1: to about what we're seeing not just a nickel but
Speaker 1: this ongoing surgeon oil right now, I think across all
Speaker 1: of these assets. When you see moves to this extent,
Speaker 1: it comes back to this concern about liquidity in the market. Um,
Speaker 1: when you have all these strange things happening, not being
Speaker 1: able to trade Russian assets, when you have oil, natural gas,
Speaker 1: all of them hitting these new highs. Um, they're concerned
Speaker 1: about how many people are actually willing to step in
Speaker 1: and trade them, what counterparty risk looks like. And often
Speaker 1: these concerns become a feedback loop where you have more
Speaker 1: volatility and it causes more people to step back from
Speaker 1: the market, and that's when you get these really, really
Speaker 1: painful moves that we've been seeing. So it's a long
Speaker 1: winded way of saying there's just a lot of fear
Speaker 1: taking place in this market, although we are starting to
Speaker 1: see futures move up. Just a touch on word that
Speaker 1: Bloomberg News is reporting that Europe could put out this
Speaker 1: massive bond sale to fund its energy and defense needs
Speaker 1: in the future, is that's sort of giving some stabilization
Speaker 1: into the market, at least at the moment. Yeah, at
Speaker 1: least the moment we are off some of the highs
Speaker 1: in Europe. UM. It is at the end of the
Speaker 1: day a form of stimulus which the market is taking well. UM.
Speaker 1: Some of the rally though, might be people stepping in
Speaker 1: UM as an excuse to buy the jib jame fully over.
Speaker 1: Rabobank told us earlier that there needs to be more
Speaker 1: that this can be enough to sustain a rally, But
Speaker 1: at the moment you do see things like banks performing better,
Speaker 1: really the different sectors that have been the most oversold.
Speaker 1: So it does seem like some of that by the
Speaker 1: dip crowd is using this to come in and buy
Speaker 1: up some cheap stocks, and we are seeing that play
Speaker 1: out in markets right now. Bloomberg television anchor and markets
Speaker 1: reporter Danny Burger, Thanks for coming on with us this
Speaker 1: morning to take a look at what's happening as we
Speaker 1: do see SMP futures moving just a bit higher now
Speaker 1: up sixteen points. Now futures up a hundred five and
Speaker 1: Nasdaq future is little change to hire their up twelve
Speaker 1: points right now. Send your treasury now down nineteen thirty seconds.
Speaker 1: The yield one four sent the yield on the two
Speaker 1: year one point six one. The surge in oil prices continues,
Speaker 1: with NIMEX screwed up two point nine percent a hundred
Speaker 1: twenty two dollars eighty two cents a barrel. The latest
Speaker 1: developments from Washington, where Congress is considering a ban on
Speaker 1: Russian oil imports. Wendy Schuller Brown University joins us. Next,
Speaker 1: This is Bloomberg. Bloomberg eleven three oh Weather sunny, breezy,
Speaker 1: upper forties today, light snow tomorrow morning, turning into light
Speaker 1: rain by late in the day. Hides in the upper
Speaker 1: thirties will be back near fifty by Thursday. Right now
Speaker 1: forty degrees in Central Park. Markets, headlines and breaking news
Speaker 1: twenty four hours a day at Bloomberg dot Com, the
Speaker 1: Bloomberg Business and at Bloomberg Quicktake, this is a Bloomberg
Speaker 1: Business lash and I'm par in Moscow and futures are higher.
Speaker 1: This morning we get the first word breaking news dash
Speaker 1: for today's morning call. Here's Bell Loney Bill, Good morning
Speaker 1: and good morning Karen. Us features are posting modest games
Speaker 1: right now with theat futures of eighty point sessidies Game
Speaker 1: thirteen well nastic futures are hired by six. The US
Speaker 1: ten year at one point eight four percent, Gold is
Speaker 1: up nine, oil is climbing, and bitcoin is up by
Speaker 1: three percent. Japan fell one point seven percent overnight, while
Speaker 1: your pre markets are in the green, led by two
Speaker 1: percent gains in Italy and Spain back in the West.
Speaker 1: On the economic front, at ten o'clock, Coastale inventories and
Speaker 1: the Deal news, Google to buy mandy It for twenty
Speaker 1: three hours a share. In other news, the Elmi Halton
Speaker 1: nickel trading after a two fifty percent spike, and China
Speaker 1: is considered buying more. Increasing stakes in Russian energy and
Speaker 1: commodity companies grabbing things up. Bank of America is raised
Speaker 1: to neutral at bar Jefferies raised Caterpillar to buy Live
Speaker 1: from the first to breaking news TASCM Bill Maloney. Care
Speaker 1: all right, Bill, thank you, and here live breaking news
Speaker 1: of your Bloomberg type squawk on your terminal SCU you
Speaker 1: a w u K and that's a Bloomberg business flash down.
Speaker 1: Here's Michael Barr with more on what's going on around
Speaker 1: the world. Karen, thank you very much. As the Russian
Speaker 1: invasion continues, Ukrainian President Voladimir Zelenski hopes Russia will honor
Speaker 1: a ceasefire meant to establish a humanitarian corridor rather than
Speaker 1: break it again. Over one and a half million people
Speaker 1: have already fled the country. Ukraine is demanding NATO imposed
Speaker 1: a no fly zone to prevent further civilian deaths, though
Speaker 1: President Biden opposes this, saying it risks direct conflict between
Speaker 1: NATO and Russia. According to Triple A, the average gas
Speaker 1: prices in the US at the pump are now more
Speaker 1: than four dollars seventeen cents per gallant. The record prices
Speaker 1: come as the man surges and the war in Ukraine
Speaker 1: threatens global oil supplies. In the NBA, the next one,
Speaker 1: the Warriors lost. In the NHL, the Islanders lost, the
Speaker 1: Bruins lost to No T to the King's Three, to
Speaker 1: global news twenty four hours a day on air and
Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven
Speaker 1: hundred journalists and analyst in more than one twenty countries.
Speaker 1: I'm Michael Barb. This is Bloomberg, Karen Ry, Michael, thank you.
Speaker 1: Sixty nine on Wall Street. We turned to news and
Speaker 1: science and technology Now with a Bloomberg and j I
Speaker 1: T STEM report brought to you buy New Jersey Institute
Speaker 1: of Technology and j I T makes infrastructure ready graduates
Speaker 1: from civil engineers to transportation specialists. If it's infrastructure, and
Speaker 1: j I T grads are building it. More at n
Speaker 1: j I T dot e DU Now Here's what's making
Speaker 1: news and science, technology, engineering and math. A new study
Speaker 1: warrants even a mild case of COVID nineteen can damage
Speaker 1: the brain and affect thinking. Oxford University researchers found COVID
Speaker 1: linked brain damage months after infection, including in the region
Speaker 1: linked to smell. The scientists also found brain shrinkage equal
Speaker 1: to as much as a decade of normal aging. Concerns
Speaker 1: of a loving global shortage of coal are driving up
Speaker 1: prices in every U S region that has access to
Speaker 1: export markets. Potential sanctions on Russia, a key supplier, have
Speaker 1: buyers around the world scrambling to line up supplies of
Speaker 1: the dirtiest fossil fuel. And Bloomberg News has learned that
Speaker 1: Google isn't talks to acquire cyber security company mandy And.
Speaker 1: It would be Google's second biggest deal ever. Mandy And
Speaker 1: has a market value of more than five point two
Speaker 1: billion dollars. Microsoft back out of discussions for a deal
Speaker 1: on concerns that mandy And would not be a good
Speaker 1: strategic fit. And that's a Bloomberg n j I t
Speaker 1: Stem report. Nathan Okay, Karen, thank you. We are live
Speaker 1: from the Bloomberg Interactive Broker studios where it's six fifty
Speaker 1: on Wall Street Time now to check what's going on
Speaker 1: in DC. Some of the top stories in our nation's
Speaker 1: capital include US lawmakers reaching the outline of a deal
Speaker 1: to ban Russian oil, U S spies painting a grim
Speaker 1: picture with Russia and China scene as the biggest threats,
Speaker 1: and President Biden set to sign an executive order this
Speaker 1: week on cryptocurrency strategy. Let's get more on the political
Speaker 1: landscape as the war in Ukraine continues to dominate. Wendy
Speaker 1: Schiller is with US now, Director of the Topman Center
Speaker 1: for American Politics and Policy at Brown University, Professor. It's
Speaker 1: good to speak with you. We just got this headline
Speaker 1: crossing the Bloomberg terminal from Axios reporting the U. S.
Speaker 1: Senators are all looking to lock down Russia's gold reserves
Speaker 1: on top of all the sanctions that have been reported
Speaker 1: over the last several days. What do you see as
Speaker 1: the impact of the US financial war on Ukraine? Well,
Speaker 1: I mean, I think there's going to be reverberations for
Speaker 1: US consumers, right, I mean, we've already seen that. You know,
Speaker 1: I've said this before. The most voters, including myself, don't
Speaker 1: quite understand why gas prices rise overnight. We know this
Speaker 1: future market, you buy a certain price months in advance,
Speaker 1: but nonetheless we're all paying more for gasoline and that
Speaker 1: that looks like it's just going to continue to go up.
Speaker 1: In a summer where free of COVID restrictions, we should
Speaker 1: expect Americans to be traveling more than ever before in
Speaker 1: the last couple of years. So I think demand is
Speaker 1: going to continue to go high, and that means that
Speaker 1: you know, voters are going to feel this, and they're
Speaker 1: gonna feel it directly. And the question is how long
Speaker 1: is it sustainable? How long can Biden and Republicans and
Speaker 1: Democrats say we need to endure this because Russia has
Speaker 1: invaded Ukraine and this is a threat to US. So
Speaker 1: I think it gets complicated the longer this goes on. Well,
Speaker 1: it's interesting, at least at the moment, a lot of
Speaker 1: US drivers, a lot of US voters are saying that
Speaker 1: they're willing to pay even more for gas, at least
Speaker 1: right now, if it ends the war in Ukraine. What's
Speaker 1: the political impact at least for the short term for
Speaker 1: President Biden if we do continue to see this pain
Speaker 1: at the pump and pain overall in the US economy. Well,
Speaker 1: some people would argue that this actually could save the
Speaker 1: spiraling down of his approval ratings, because rather than the
Speaker 1: Republicans being able to scream about inflation, which they've done
Speaker 1: very effectively from probably almost close to a year now,
Speaker 1: uh and gas prices and blaming and on put on
Speaker 1: sorry misstep Biden. Now Biden says, listen, we have to
Speaker 1: take these steps to protect democracy and protect Europe, and
Speaker 1: therefore you're gonna have to pay more so the narrative
Speaker 1: has flipped really quickly, and so it could help Biden
Speaker 1: diminish some of that pain that people um are feeling
Speaker 1: towards him because of higher gas prices. I don't think
Speaker 1: that lasts. I mean, the problem with that is that's now.
Speaker 1: But I think, you know, as I said, as people
Speaker 1: want to go on vacation and enjoy themselves over the summer,
Speaker 1: I think they're going to feel it more and more.
Speaker 1: And that's closer to the Metrim elections. So the Republicans
Speaker 1: have a pretty good situation. They can flip the script
Speaker 1: on Trump and Russia, where they defended Trump against you
Speaker 1: know charge conclusion with Russia. Now they're very anti Russia
Speaker 1: and they want to inflict as much pain as possible.
Speaker 1: But of course the bad side of the Democrats is
Speaker 1: if we do that, we get higher gas prices, we
Speaker 1: probably continue to have high inflation despite the Federal Reserve
Speaker 1: promising to increase rates, and the Republicans do better in November.
Speaker 1: So the Republicans right now are in a pretty good position.
Speaker 1: There is an interesting note from economists to Goldman Sachs
Speaker 1: out this morning, saying that the war in Ukraine could
Speaker 1: raise the odds for parts of President Biden's Build Back
Speaker 1: Better agenda to get past, particularly the clean energy piece,
Speaker 1: if continued rising gas prices uh lead to more of
Speaker 1: a transition to a clean energy economy. Is that some
Speaker 1: thing you're looking at? Is that possible that we could
Speaker 1: see a boost for build back Better from the war Ukraine? Well,
Speaker 1: I mean I think I think that, uh, if he
Speaker 1: got the time and the space on his agenda to
Speaker 1: make the pitch that this is why we need to
Speaker 1: do wind power and solar power, probably wind power more
Speaker 1: because we know that farms in the Midwest and which
Speaker 1: are typically Republican states, they are taking advantage of wind
Speaker 1: power now uh, and they are increasingly looking at that
Speaker 1: uh for using sort of farm land that they can't
Speaker 1: use anymore or they want to give it a rest. So,
Speaker 1: you know, when you think about that, he's got an opportunity,
Speaker 1: and environmental movement has an opportunity. But it would be
Speaker 1: something very new in American politics to have very conservative
Speaker 1: Republicans or anti Russia aligned with environmentalists who are pushing
Speaker 1: for alternative fuel sources. But with you know, automakers saying
Speaker 1: they're going electric, right, they're already said we're gonna be
Speaker 1: electric in a decade. We don't. We don't really have
Speaker 1: a choice, right, I mean, we're gonna be driving electric cars.
Speaker 1: We have to find a way to have charging stations.
Speaker 1: That's the big piece I think that we have in
Speaker 1: the infrastructure bill that we need more money spent on.
Speaker 1: Uh And so Biden does have an opportunity, but it
Speaker 1: would be a very strange coalition to witness in American
Speaker 1: politics if that comes to fruition. Speaking of the infrastructure
Speaker 1: bill in our last minute here, it's kind of wild
Speaker 1: to think that it was only a week ago that
Speaker 1: the President delivered his State of the Union address and
Speaker 1: then the promise to go on the road to tout
Speaker 1: his bipartisan infrastructure plan. I mean, what does the war
Speaker 1: in Ukraine mean for the domestic agenda going forward for
Speaker 1: President Biden? When you would think that he would have
Speaker 1: want it to be touting the record that he's at
Speaker 1: least accomplished so far in his first year. Well, I mean,
Speaker 1: it's a really hard it's hard to change the subject,
Speaker 1: right because it's so horrifying to see, you know, the
Speaker 1: destruction in Ukraine and displacement of Ukrainians. But he can
Speaker 1: make the case that we have to modernize, right, that
Speaker 1: this is not the same world it was thirty years ago.
Speaker 1: And we look at the Russian Army and they seem
Speaker 1: to be having problems and maybe that's a symbol of
Speaker 1: what was. And we have to think about the future,
Speaker 1: and we have to think about, you know, modernizing society.
Speaker 1: And that's the infrastructure Bill will help everybody, whether you're
Speaker 1: a public, a democrat, wherever he live. That's what this
Speaker 1: money should be spent on doing. If he can find
Speaker 1: a way to switch the narrative to the future, to
Speaker 1: adapting to a new world and being stronger and more
Speaker 1: independent in that world, I think he can try to
Speaker 1: combat some of the rhetoric that he's getting Um from
Speaker 1: Independence in particular, who really dissatisfied and look like a
Speaker 1: leader who's thinking ahead. Uh. That's a tough pivot for him,
Speaker 1: but I think he has an opportunity now to do that.
Speaker 1: And he's better. Even though he stumbles when he speaks
Speaker 1: and people make fun of him, he's better. He's better
Speaker 1: on the road than he is UM from the White House.
Speaker 1: So he needs to get out there. Thanks as always,
Speaker 1: Professor Wendy Shoulder, Brown University Karen Nathan. It has six
Speaker 1: fifties six on Wall Street. This is Bloombergy Daybreak marches
Speaker 1: Women's History Month and every day this month where celebrating
Speaker 1: significant moments in women's history. Now with your installment for
Speaker 1: March eightere's Bloomberg's I Need a Young Happy International Women's
Speaker 1: Day on today in Women's History in t the Fearless
Speaker 1: Girls sculpture is revealed across from the Charging Bull statue
Speaker 1: on Wall Street. Kristin visbal sculpture depicted a young, defiant
Speaker 1: girl standing confidently. The sculpture was installed late the night
Speaker 1: before it was placed there to draw attention to the
Speaker 1: lack of gender diversity and equality in the workplace, particularly
Speaker 1: in large, powerful institutions in New York City. The plaque
Speaker 1: under the sculpture reads, know the power of women in Leadership.
Speaker 1: She makes a Difference. It was commissioned by State Street
Speaker 1: Global Advisors, who wanted to advertise an index fund that
Speaker 1: promotes gender diverse companies with higher percentages of female leadership.
Speaker 1: That's today in Women's History, I'm nit a young Bloomberg
Speaker 1: Radio All right, Nia, thank you again. Futures are higher
Speaker 1: this morning and Bloomberg Surveillance with Tom King, Jonathan Barrow,
Speaker 1: and Lisa Abramowitz says straight ahead for Nathan Hagar. I'm
Speaker 1: Karen Moscow, and this is Bloomberg.