Speaker 1: Live from the Bloomberg Interactive Brooker Studios. This is Bloomberg
Speaker 1: day Break for Wednesday, September seven. Coming up this hour,
Speaker 1: global stock slump and the dollar strengthen. Says financial conditions tighten.
Speaker 1: UK Prime Minister list Trust starts filling her cabinet and
Speaker 1: takes her first questions from Parliament. Apple prepares to unveil
Speaker 1: its latest iPhone, and California braces for potential blackhouse. Former
Speaker 1: White House strategist Steve Bennett was surrendered at face criminal
Speaker 1: churches in New York and new guidance from the White
Speaker 1: House on COVID vaccines. I'm John Tucker. Those stories straight ahead.
Speaker 1: I'm John stash Our. In sports, the Mets lost in Pittsburgh,
Speaker 1: co Co Golf and Nick Carrios both lost their quarterfinal
Speaker 1: matches last night at the US Open. That's all strain
Speaker 1: ahead on Bloomberg Daybreak on Bloomberg eleven three on New York,
Speaker 1: Bloomberg nine one, Washington, d C, Bloomberg one oh six one, Boston,
Speaker 1: Bloomberg nine sixties and Francisco Sirius x M one nine team,
Speaker 1: and around the world on Bloomberg Radio dot Com and
Speaker 1: via the Bloomberg Business app Good morning. I'm Nathan Hagar
Speaker 1: and I'm Karen Moscow in US stock index futures on
Speaker 1: the rise this morning. We're coming up to five oh
Speaker 1: one on Wall Street, and we checked the markets every
Speaker 1: fifteen minutes throughout the trading day. On Bloomberg, U S
Speaker 1: and P futures of eight points down, futures have thirty
Speaker 1: six NASDACK futures up thirty seven. The decks in Germany's
Speaker 1: down a tenth of uppercent, CAC in Paris down three
Speaker 1: tenths per cent, and the foot see one d is
Speaker 1: down about eight tenths of upper set ten. Your treasury
Speaker 1: up ten thirty seconds, you know, three point three one
Speaker 1: percent they yield on the two year three point four
Speaker 1: or five percent. Nimex screwed oil is up tenth of
Speaker 1: upper cent or sixteen cents at eighty seven dollars seven
Speaker 1: cents of barrel comex scold up two tenths per cent
Speaker 1: or two dollars seventy cents is seventeen fifteen and ninety announced.
Speaker 1: And the euro point one two against the dollar. Nathan, Karen, thanks,
Speaker 1: Stocks in Europe are falling as the US dollar continues.
Speaker 1: It's strong run. The Bloomberg Dollar Spot index hit another
Speaker 1: record overnight. That's leading to tighter financial conditions weighing on
Speaker 1: risk assets around the world. Janet Movie is head of
Speaker 1: market analysis at Ruined Dolphin. There's just disinflationary impact from
Speaker 1: strong New West older there are other disinflationary impacts for
Speaker 1: some whole low Ecelin prices, So we do think that's
Speaker 1: uh inflation is more likely to peek and slow will
Speaker 1: rapidly compared to the other economies. Janet Movie with Bruined
Speaker 1: Dolphin says she still expects the FED to raise interest
Speaker 1: rates at this month's meeting. Meantime, Nathan gets some inside
Speaker 1: from the Fed with the release of its Beige Book
Speaker 1: today that comes at two pm Wall Street time, a
Speaker 1: day before we hear from Fed share J Powell. He
Speaker 1: speaks at the Cato Institutes Monetary Conference tomorrow to an
Speaker 1: into Bloomberg radio and television for life coverage of his
Speaker 1: comments around nine a m. Eastern. Turning to overseas now, Karen,
Speaker 1: Markets in Europe are feeling the pain of the stronger dollar.
Speaker 1: It comes at a precarious time for the UK. The
Speaker 1: new Prime Minister, Liz Trust is filling her Cabinet and
Speaker 1: is working on solution to address her country's cost of
Speaker 1: living crisis. Bloomberg. Stephen Carroll joins us live from London
Speaker 1: with the latest. Good morning, Stephen, Good morning, Nathan and Karen.
Speaker 1: Liz DROs holding the first meeting of her new cabinet
Speaker 1: as we speak, after a sweeping reshuffle that saw her
Speaker 1: supporters elevated to the top jobs. Quasi quarteng as a
Speaker 1: new Chancellor, while Jacob Riesmock takes over his business Secretary
Speaker 1: Natural Space as the leader of the opposition Labor Party
Speaker 1: in Parliament. Later, as we await details of her package
Speaker 1: to tackle soaring energy costs, people familiar with the plan
Speaker 1: telling Bloomberg that it could see the government spending as
Speaker 1: much as two hundred billion pounds to cap prices, adding
Speaker 1: ten percent to the UK's national debt. Live in London,
Speaker 1: I'm Stephen Carroll, Bloomberg, daybreak. All right, Stephen, thank you.
Speaker 1: While the strong dollar weight on ousets in Asia, over night,
Speaker 1: stocks held it lows from May of twenty well, Asian
Speaker 1: currencies weakened sharply, and Bloomberg. Juliet Sally joins us from
Speaker 1: Singapore with the latest. Good Morning, Juliet Good morning, Nathan
Speaker 1: and Karen. In Japan, the yen sank, with officials warning
Speaker 1: they're concerned about rapid one sided moves. China meanwhile said
Speaker 1: it's you on reference rate with the strongest bias on record,
Speaker 1: a signal of discomfort with the swiming currency. South Korea's
Speaker 1: one was the worst performing Asian currency, prompting speculation of intervention.
Speaker 1: The Kiwi and Singapore dollars fell to two year lows,
Speaker 1: adding to the downbeat sentiment. The latest China data showing
Speaker 1: the nation's export growth slide more than expected in August,
Speaker 1: adding to signs of a flagging world economy. In Singapore,
Speaker 1: Juliette Sally Bloomberg Daybreak a right. Juliette thanks sticking with
Speaker 1: again for a moment. That currency slumped to a level
Speaker 1: that leaves it on track for its worst year on record,
Speaker 1: and that is prompting signals from government officials Japan would
Speaker 1: need to take action if the rapid one sided moves continue.
Speaker 1: Bloomberg Facts reporter Ruth Carson says, at this point we
Speaker 1: could see government intervention. Policymakers haven't changed their language to
Speaker 1: indicate such a move could happen anytime soon, but lookout
Speaker 1: for phrases like we won't rule out any options to
Speaker 1: combat excessive movements, or we're ready to take decisive, bold
Speaker 1: action to counter excessive or speculative moves. Bloomberg's Ruth cars
Speaker 1: And says, the end could get even weaker from here
Speaker 1: and checking it right now, it's weaker by nine tenths
Speaker 1: per cent against the dollar at one point one zero. Well,
Speaker 1: we move on to corporate news now, Nathan, where all
Speaker 1: eyes are on Apple. The tech giant is holding a
Speaker 1: launch event today to unveil the new iPhone fourteen. New
Speaker 1: iPhones traditionally kick off a busy fall products season, which
Speaker 1: also includes new max iPads and Apple Watch models. The
Speaker 1: event kicks off at one pm Wall Street Time, and
Speaker 1: we'll bring you live updates from Cooper Tino throughout the
Speaker 1: day on Bloomberg Radio and television. And we've got more
Speaker 1: earnings on the way today, Karen popular meme Stock Game
Speaker 1: Stop is among companies out with results after the close.
Speaker 1: Bloomberg's Charlie Pellett has a preview. The analysts surveyed by
Speaker 1: Bloomberg see the video game retailer reporting on adjusted earnings
Speaker 1: per share loss of thirty four cents on revenue of
Speaker 1: one point to seven billion dollars. Analysts at Webb Bush
Speaker 1: say game Stop may trail consensus expectations, siting ongoing hardware
Speaker 1: constraints for gaming consoles. Game Stop has been among the
Speaker 1: most popular retail trader favorites this year, but the stock
Speaker 1: for all of two is down thirty two percent. In
Speaker 1: New York, Charlie Pellett Bloomberg day Break, All right, Charlie,
Speaker 1: thanks well. It's shaping up to be another rough day
Speaker 1: in California. The state's electric grid will once again be
Speaker 1: tested after a narrowly avoided blackouts for two consecutive days.
Speaker 1: Blistering temperatures pushed electricity demand to record levels late yesterday
Speaker 1: that prompted California to enact its highest level of energy emergency.
Speaker 1: Much of the state remains under an excessive heat warning.
Speaker 1: Taking a look at oil now, Karen Crude is trading
Speaker 1: lower as the dollar surges. Concerns over global demand are
Speaker 1: also weighing on sentiment. W t I is off to
Speaker 1: a week starts to September, extending a round of three
Speaker 1: monthly losses. That's the worst streak in more than two years.
Speaker 1: Checking prices now, w t I is up a half
Speaker 1: percent at eighty seven dollars twenty nine cents. Of Barrel
Speaker 1: Brent is at ninety three dollars six cents. But we're
Speaker 1: also watching cryptocurrencies this morning, Nathan, Bitcoin flirting with a
Speaker 1: test of this year's lows, following again another sell off
Speaker 1: that's pushed the sector's overall market value below one trillion dollars.
Speaker 1: The largest digital token has shed more than six percent
Speaker 1: so far this week as searching real interest rates cut
Speaker 1: into risk assets. Checking bitcoin right now, it's at eighteen thousand,
Speaker 1: seven hundred and nine dollars. Straight ahead your latest local headlines,
Speaker 1: and this is Bloomberg. Thank you, Karen. Five oh seven
Speaker 1: on Wall Street. We are at sixty six degrees in
Speaker 1: Central Park. Can't get in on the Arizonto Bridge. It's
Speaker 1: closed both ways on the lower deck for construction details
Speaker 1: coming up in traffic. First, John Tucker with what else
Speaker 1: is going on in New York and around the world.
Speaker 1: Good morning, John and Nathan. Former White House strategy of
Speaker 1: Steve Bannett will surrender to face criminal charges in New York.
Speaker 1: Let's get the story from Bloomberg's Jeff Bellinger. Sources tell
Speaker 1: Bloomberg that Bannon has been indicted and will be charged
Speaker 1: by the Manhattan District Attorney's office. Manhattan prosecutors were working
Speaker 1: early last year with New York Attorney General Letitia James,
Speaker 1: New York's top law enforced officer to gather information for
Speaker 1: a probe into weather bannoned defrauded contributors for that We
Speaker 1: build the Wall. Bannon was charged with fraud and federal
Speaker 1: court and over the alleged scheme, leading to a pardon
Speaker 1: hours before Donald Trump left the White House. But Trump
Speaker 1: could not shield his former raid from the state level probe.
Speaker 1: Jeff Bullinger Bloomberg day Break, and we're hearing more surrounding
Speaker 1: the documents discovered at the former president's Florida state The
Speaker 1: Washington Post reports a document the FNBI agencies at mar
Speaker 1: Lago describes a foreign government's military defenses and nuclear capabilities.
Speaker 1: The Post ants some of the seized documents detail top
Speaker 1: secret US operations so closely guarded that many senior national
Speaker 1: security officials are captain the dark about them. A development
Speaker 1: in the probe into the alleged effort by some Trump
Speaker 1: supporters to overturn the twenty election results in Georgia. Investigators
Speaker 1: say video shows a local Republican party leader allegedly allowing
Speaker 1: two men into the Coffee County's election offices the day
Speaker 1: after the January six insurrection. It's also the same day
Speaker 1: authorities say the offices voting machines were breached, and the
Speaker 1: Biden administrations has COVID nineteen vaccines will largely become an
Speaker 1: annual vaccination akin to the flu shot. Dr Is She's jaws,
Speaker 1: the Coronavirus Response Coordinator. We the administration will make sure
Speaker 1: that vaccines are free, that they're widely available, and they
Speaker 1: are easy to access for everybody. The administration urging Americans
Speaker 1: to seek out newly authorized booster shots tailored to fight
Speaker 1: the omicron sub variants that are now dominant. About half
Speaker 1: u S workers could be described as quiet quitters. That's
Speaker 1: according to new research by Gallup. It means they fulfill
Speaker 1: their job description but are psychologically detached from their work.
Speaker 1: According to Gallops survey, some fifty of respondents met the
Speaker 1: definition of quiet quitting. Global News twenty four hours a
Speaker 1: day on Erin on Bloomberg Quicktake power by more than
Speaker 1: seven hundred journalists and analysts in more than one twenty countries.
Speaker 1: I'm John Tucker and this is Bloomberg Nathan, Thank you John.
Speaker 1: Almost five ten on Wall Street time for the Bloomberg
Speaker 1: Sports Updake Morney, John Stanhown and Morning Nathan so much
Speaker 1: with us being the easy part of the Mets schedule.
Speaker 1: Back to back losses though lowly Washington and then an
Speaker 1: eighth to two loss last night in Pittsburgh, and the
Speaker 1: Mets have just their second three game losing figure of
Speaker 1: the season. The other one came back in June. Tiwan
Speaker 1: Walker gave up four runs and five in ins. The
Speaker 1: Pirates put the game away with four runs in the
Speaker 1: eighth day Brandon Nimmo homeward for the Mets. Two teams
Speaker 1: have a double header today to make up Monday's rain out.
Speaker 1: The Yankees and Twins have a twin bill on the
Speaker 1: Bronx to make up last night's rain out. Yanksters put
Speaker 1: Anthony Rizzo on their extremely crowded injured list. That's a
Speaker 1: list with now fifteen names on a Rizzo had missed
Speaker 1: time with a bad back. Now he's suffering from migraine headaches.
Speaker 1: Another late night at the US Open, This one ended
Speaker 1: at one am with Karen Ketch John I've winning the
Speaker 1: fifth set from Nick Kirios. Um the old credit to Karen.
Speaker 1: He just he's a foto. He's in. He's a warrior,
Speaker 1: you know, he's he's authority said it really good today. Um, honestly,
Speaker 1: probably the best server played this tournament, to be honest,
Speaker 1: the way he was hitting his spots under pressure. A
Speaker 1: lot of new names emerging that this year's Open Cat
Speaker 1: Shauno will now play Norway's Casper Rude And unlike the
Speaker 1: semifinal on Friday, the women's winners yesterday as Javier who
Speaker 1: was from Tunisia, and then last night Caroline Garcia took
Speaker 1: out the American teenage You're Coco got w NBA Playoffs
Speaker 1: wins for Connecticut headed to a Game five with Chicago
Speaker 1: and Las Vegas, who reached the finals last night, the
Speaker 1: final game in the long career of Seattle's Suber the
Speaker 1: Long Island native. Chicago Bears announced their attention to move
Speaker 1: to an indoor stadium in the suburbs of them not
Speaker 1: until two thousand thirty four. John Stashower, Bloomberg Sports, thank you, alright,
Speaker 1: I guess there's time, Thank you, John. Sp Futures up
Speaker 1: two points, South Futures up four Nastack futures up nineteen points.
Speaker 1: Dollar strength pervading the market. We speak next with Kid
Speaker 1: Juke's chief effect Strategistics, suck Chen. This is Bloomberg, Bloomberg
Speaker 1: eleven three oh weather scattered showers today, low seventies for highs.
Speaker 1: We'll clear out tomorrow upper seventies and end the week
Speaker 1: with sunshine Friday and a high your eight right now,
Speaker 1: cloudy sixty six degrees in Central Park. It continues markets,
Speaker 1: headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, at Bloomberg Business Atland, at Bloomberg Quick Tape.
Speaker 1: She's a Bloomberg Business flash, but I'm kerin Moscow. Stocks
Speaker 1: and commodities. You're dropping is the prospect of aggressive Federal
Speaker 1: Reserve monetary tightening lifts a dollar gags to another record. Meanwhile,
Speaker 1: US stock index futures are mostly higher. We checked the
Speaker 1: markets every fifteen minutes throughout the trading day on Bloomberg.
Speaker 1: Right now it's in p futures are up about three
Speaker 1: points down. Futures are also well. They're little change now
Speaker 1: nowesday at Future are up twenty four The decks in
Speaker 1: Germany is down four tenths of upper cent. Can your
Speaker 1: treasury up ten thirty seconds, you have three point three
Speaker 1: one percent they yield on the two year three point
Speaker 1: four or five percent. NIMEX screwed oil is up six
Speaker 1: tenths percent of fifty cents at eighty seven dollars, thirty
Speaker 1: six cents of barrel comex gold up two tens per
Speaker 1: cent or three dollars fifty cents. A seventeen sixteen forty
Speaker 1: announced the euro point nine nine oh four against the dollar,
Speaker 1: British found one point one four nine zero and the
Speaker 1: en one four point one zero. Bitcoin this morning lower
Speaker 1: down one percent at eighteen thousand, seven hundred eighty dollars.
Speaker 1: That's a Bloomberg business flash. Now here's John Tucker with
Speaker 1: more on what's going on around the world. John, good morning,
Speaker 1: and good morning, Karen. Former White House strategist Steve Bennet
Speaker 1: will surrender to face criminal charges in New York. California
Speaker 1: narrowly avoided blackouts for a second day, even as dangerous
Speaker 1: temperatures pushed electricity demand to a record in that state.
Speaker 1: And sing Pain will meet his Russian counterpart Vlackimir Putin
Speaker 1: next week. It would mark the Chinese leaders first trip abroad.
Speaker 1: In two and a half years. Sports last ninth, the
Speaker 1: Mets lose to the Pirates, Red Sox lost to the Rays,
Speaker 1: Orioles beat the Blue Jays, Nationals lost to the Cardinals,
Speaker 1: the As fell to the Braves, the Giants lost to
Speaker 1: the Dodgers, and the Yankees game against the Twins rained out.
Speaker 1: They're set to make up that game today. Glomally was
Speaker 1: twenty four hours a day on Aaron on Bloomberg Quicktake.
Speaker 1: We're powered by more than twenty seven hundred journalists and
Speaker 1: analysts and more than one twenty countries. I'm John Tucker.
Speaker 1: The he is Bloomberg. Nathan Okay, John, thank you. It's
Speaker 1: five nineteen on Wall Street Live from the Bloomberg Interactive
Speaker 1: Broker Studios. This is Bloomberg Dave Break on a morning
Speaker 1: where dollar strength seems to be rippling through markets and
Speaker 1: driving risk assets lower. Let's bring in Kit Jukes for
Speaker 1: more on this. Chief FX Strategist Associated General Kit, Good morning.
Speaker 1: It seems like the prospect of higher for longer interest
Speaker 1: rates is really on traders minds right now. Where do
Speaker 1: you see the dollar going? Has King dollars stopped? King dollar?
Speaker 1: Is King dollars wearing? Here's her crown very firmly not
Speaker 1: going anywhere. I don't think this can really stop until
Speaker 1: we get past the worst of the energy crisis, to
Speaker 1: be quite honest, in the sense that, um, you know,
Speaker 1: the I mean, the rate story is part of it,
Speaker 1: but it's all related to the fact that that that
Speaker 1: the terms of trade between most of the world in
Speaker 1: the US, between Europe and the US and Japan and
Speaker 1: the US is so favorable to the to the US
Speaker 1: because it's the country's second biggest energy producer globally, whereas
Speaker 1: we're all we're all trying to wean ourselves off Russian
Speaker 1: energy as fast as we can, and that that contrast
Speaker 1: is just enormous. So as growth slows with inflation in
Speaker 1: Europe and growth just slows in Japan, the US has
Speaker 1: a completely different set of needs in terms of monetary policy,
Speaker 1: because you know, the economic data continually just persists in
Speaker 1: outperforming expectations. So what's your expectation when it comes to
Speaker 1: the ECB. That seems to be in a lot of
Speaker 1: people's minds as well, given the risks around energy with
Speaker 1: the war in Ukraine going on. Is a seventy five
Speaker 1: basis point move from the e c B Uh, sealed
Speaker 1: in here, it's getting more likely. Seems to be it
Speaker 1: seems to be fashionable. I would have thought of that
Speaker 1: sort of lost. That's the most likely outcome. Um, this
Speaker 1: morning's GDP revisions upwards might be just the last little
Speaker 1: bit to sort of, you know, put some dust on
Speaker 1: top of it and make it, make it happen. I
Speaker 1: think it's what they need to do to maintain their credibility,
Speaker 1: is what they the kind of hinting at. Why would
Speaker 1: they back down now? I think so, Yeah, that's probably
Speaker 1: what we'll get. Yeah, you mentioned the revision we got
Speaker 1: from the second quarter GDP in the euro Zone coming
Speaker 1: in a little bit stronger than expected. Uh what does
Speaker 1: that mean for Europe at this point, given that we've
Speaker 1: seen so much weakness in this second half. Yeah, I
Speaker 1: think that's the issue is is you know so, you know,
Speaker 1: so the unro's own economy did better than people thought
Speaker 1: going into an absolutely huge energy crisis. That will that
Speaker 1: will result in in recession at least in Germany and
Speaker 1: UM and significantly slower growth everwhere else. So what difference
Speaker 1: does it make? I don't know. I just think it
Speaker 1: it's enough to convince the CB that they've got room
Speaker 1: to frontload rate hikes as much as possible. Beyond that,
Speaker 1: I don't think it makes a great deal of great
Speaker 1: deal of differences. It doesn't make a great deal of
Speaker 1: difference to the foreign exchange market because um, you know,
Speaker 1: I don't know that will be pricing in higher terminal
Speaker 1: rates from the ECB or expecting anything wonderful after that.
Speaker 1: We we are just we are just going to get
Speaker 1: slower growth in Europe and um, and we'll get slower
Speaker 1: growth faster or slower growth earlier than in the United States,
Speaker 1: as we already had got to get your reaction to
Speaker 1: what's happening in Asia as well. With the end trading
Speaker 1: at a twenty four year low, right now, do you
Speaker 1: see the possibility of intervention? And by the Bank of Japan, uh,
Speaker 1: it must be coming close. I mean the obviously the
Speaker 1: Korean authorities are being much more vocal about the need
Speaker 1: to do it. You know, the one is week, the
Speaker 1: Taiwan dollar is week, the Chinese un week is week,
Speaker 1: the end is week. Um. The Japanese obviously have you know,
Speaker 1: hugely lower interest rates than the US every time US
Speaker 1: yields move higher the end weekends. But but the you know,
Speaker 1: the housing market is sewing precipitously in China and so
Speaker 1: the whole of that region is under pressure. At this
Speaker 1: point in time, I think we will end up seeing intervention.
Speaker 1: The only thing I would I would warn you know,
Speaker 1: the last time we saw Dolly yen this high was
Speaker 1: just before LTCM collapsed and run Russia defaulted and we
Speaker 1: were back at a hundred and turn by the end
Speaker 1: of the year. So um, we were at levels where
Speaker 1: I wouldn't promise that it's going to be stable our
Speaker 1: last minute here you kit, what's the path ahead for
Speaker 1: the pound now with the change in leadership in the UK,
Speaker 1: I study still weak. I still think study probably able
Speaker 1: to be. You know, if anything slightly weaker than the euro.
Speaker 1: The fundamental problem is the same for the UK is
Speaker 1: for Europe dependence on what is now extremely expensive and
Speaker 1: scarce um and energy. If it's a bad winter, sterling
Speaker 1: has got more downside than if it's a good winter.
Speaker 1: If it's a mild winter, we're lucky and we could
Speaker 1: get away with it. But in the short term, as
Speaker 1: we price in the downside risk that we'll end up
Speaker 1: with power outages and things like that, we're pretty much already,
Speaker 1: we could be in recession by the time we do
Speaker 1: the mass backwards later on. We're going to get aggressive
Speaker 1: rate hikes because of the inflation. Uh and and we
Speaker 1: have a we have a balance of payments that's worse
Speaker 1: than anybody else's in the UK, so of the major economies.
Speaker 1: So there's not there's not a lot out of there.
Speaker 1: The only the only piece that you can say it's favorable.
Speaker 1: The sentiment is truly dire, and the letter is very low.
Speaker 1: I still don't think we'll get We'll get the low
Speaker 1: one time, but um, we're not going up any time.
Speaker 1: So thanks for this, kid, good having you on with
Speaker 1: us this morning. Kid Jukes, Chief effects strategist, as so
Speaker 1: State in general. You're listening to Bloomberg Daybreak. Good morning,
Speaker 1: Bloomberg eleven three oh weather. Scattered showers today with highs
Speaker 1: in the low seventies, will clear out tomorrow, get into
Speaker 1: the upper seventies and top out at eighty on Friday
Speaker 1: under sunshine sixty six and cloudy. Right now, broadcasting live
Speaker 1: from the Bloomberg Interactive Broker Studio in New York. Bloomberg
Speaker 1: e Living Free on to Washington, d C. Bloomberg to Boston,
Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg nine
Speaker 1: sixty to the country, Sirius XM Cho one nine team,
Speaker 1: and around the globe, the Bloomberg Business and Bloomberg Radio
Speaker 1: dot Com. This is Bloomberg Daybreak. It's five thirty on
Speaker 1: Wall Street. Good morning. I'm Nathan Hagar and I'm Karen Moscow.
Speaker 1: We're just about four hours away from the open of
Speaker 1: US trading. Let's get you have to date on the
Speaker 1: news you need to know at this shower. Stocks in
Speaker 1: Europe are falling as the US dollar continues its strong run.
Speaker 1: The Bloomberg Dollar Spot Index had another record overnight, and
Speaker 1: that's leading to tighter financial conditions that are weighing on
Speaker 1: risk assets around the world. Janet Mooe is head of
Speaker 1: market analysis at Bruin Dolphin. There are increasing signs that
Speaker 1: countries are worried about the dollar strength. I think government
Speaker 1: officials they will have to come together to discuss what
Speaker 1: they may do about it, but maybe they don't actually
Speaker 1: have a lot of solutions. Janet Movie with Bruin Dolphins,
Speaker 1: says the strong dollar could have a disinflationary effect on
Speaker 1: the US economy, but she still expects the FED to
Speaker 1: raise interest rates set September's meeting, and we'll get more
Speaker 1: inside from the Fed today, Karen, with the release of
Speaker 1: the Beige Book. That comes at two pm Wall Street Time,
Speaker 1: a day before we hear from FED chair J Powell.
Speaker 1: He speaks at the Cato Institute's Monetary Conference tomorrow. Tune
Speaker 1: into Bloomberg Radio and Television for live coverage of that
Speaker 1: around nine am Eastern. Well, Nathan, the strong dollar weighed
Speaker 1: on assets in Asia. Overnight stocks held at low's from
Speaker 1: May of twenty well, Asian currencies weekend sharply. We're taking
Speaker 1: a close look at the yen, in particular, it's on
Speaker 1: track for the worst year on record. That's prompting signals
Speaker 1: from government officials that Japan would need to take action
Speaker 1: if the rapid one sided move continues. With Carson's is
Speaker 1: an f ex reporter with Bloomberg News at this stage,
Speaker 1: with a Bank of Japan clinging to his ultravis monetary
Speaker 1: policy stands and FED hiking aggressively to five inflation, that's
Speaker 1: little stopping it from hitting levels last seen in the
Speaker 1: early Bloomberg's Youth Curse, and says potential government intervention is
Speaker 1: on trader's minds at the moment, and checking their yen
Speaker 1: right now, it's at one four point one seven against
Speaker 1: the dollar. Alright. Turning the corporate news now, Karen, all
Speaker 1: eyes are on Apple. The tech giant holds an event
Speaker 1: today to unveil its new iPhone fourteen. New iPhones traditionally
Speaker 1: kick off a busy fall product season, which also includes
Speaker 1: new max iPads and Apple Watch models. This event kicks
Speaker 1: off at one pm Wall Street time today. We will
Speaker 1: have live updates from Cupertino for you throughout the day
Speaker 1: on Bloomberg Radio and television. And taking a look at
Speaker 1: oil now, Nathan Crudes trading lower as the dollar surges.
Speaker 1: Concerns over global demand are also wearing on sentiment. W
Speaker 1: t I is off to a week start to September,
Speaker 1: extending a run of three monthly losses as the worst
Speaker 1: streak in more than two years. And checking prices right now,
Speaker 1: w t I is up nine tenths of Upper center
Speaker 1: up seventy six cents at eighty seven dollars sixty one cents,
Speaker 1: and barrel looking at Brent it's at ninety three dollars
Speaker 1: sixty three cents, and straight ahead, we have your latest
Speaker 1: local headlines plus the check of Sports, and this is Bloomberg.
Speaker 1: Thank you, Karen. Three on Wall Street at sixty six
Speaker 1: degrees in Central Parker, got slow traffic of the local
Speaker 1: lanes at seventies found between Eggs at fifty seven and
Speaker 1: the turnpike. More coming up in traffic. First John Tucker
Speaker 1: with what else is going on in New York and
Speaker 1: around the world? John and Nathan. Former White House strategist
Speaker 1: Steve Bannon, who was pardoned by Donald Trump on as
Speaker 1: last day as president, will surrender tomorrow to face stay
Speaker 1: criminal charges in New York. Manhattan prosecutors have been working
Speaker 1: with New York's Attorney General, Letitia James to gather information
Speaker 1: for a probe into whether banded the frauded contributors for
Speaker 1: We Build the Wall that was a private sector effort
Speaker 1: to sup where Trump's sixteen campaign promise to construct a
Speaker 1: wall along the US Mexico border. Trump's pardon doesn't shield
Speaker 1: Bannon from state charges. Add a threat by a major
Speaker 1: airline to suspend service at JFK. Let's get more in
Speaker 1: this report from Bloomberg's Lisa Mateo. United Airlines is threatening
Speaker 1: to suspend service at Kennedy unless federal regulators review runway
Speaker 1: use and allow the carrier to increase daily operations. United
Speaker 1: told employees and a memo about its plan, saying the
Speaker 1: airport's total flight capacity hasn't changed since two thousand eight,
Speaker 1: despite a widening of runways and other infrastructure improvements. The airline,
Speaker 1: which has two daily flights between Los Angeles and JFK
Speaker 1: and to shuttling back and forth to San Francisco, that
Speaker 1: it would suspend operations at the end of octob over
Speaker 1: without more slots. Lisa Mateo Bloomberg Daybreak, California had narrowly
Speaker 1: avoided blackouts for a second successive day, even as temperatures
Speaker 1: pushed electricity demand to a record and stretched the state's
Speaker 1: power grid close to its limits. Electricity uth had reached
Speaker 1: fifty two giga watts yesterday, easily breaking a record that
Speaker 1: still since two thousand and six. Is California Governor Gavin Newsom,
Speaker 1: California and many other Western states are experiencing simply unprecedented temperatures.
Speaker 1: In fact, this heatwave is on track to be both
Speaker 1: the hottest and the longest on record for the state.
Speaker 1: In many parts of the West for the month of September,
Speaker 1: bosses are expecting workers to finally start showing up more
Speaker 1: routinely at menton Happen offices that have been sparsely populated
Speaker 1: for more than two years. Big banks, including Goldman, Sachs
Speaker 1: and Morgan Stanley, had removed the final hurdles for full
Speaker 1: time in person work, once again a reminding employees that
Speaker 1: they're wanted back in the office. Global News twenty four
Speaker 1: hours a day on the air end on Bloomberg Quicktake
Speaker 1: power by more than twenty seven hundred journalists at analysts
Speaker 1: it more than one hundred twenty countries. I'm John Tucker.
Speaker 1: This is Bloomberg, Nathan. Thank you John by thirty five
Speaker 1: on Wall Street Time for the Bloomberg Sports That Take
Speaker 1: with John stanshowerd Nathan. The Mets have been the first
Speaker 1: place team pretty much all season, but maybe not by
Speaker 1: the end of tonight. Atlanta Braves one again ten to
Speaker 1: nine in Oakland. They've won twenty six of their last
Speaker 1: thirty one, and the Braves are eighty five and fifty one,
Speaker 1: same record as the Mets, who lost in the Pittsburgh
Speaker 1: Eights two Taiwan Walker gave up first four runs the
Speaker 1: bullpen four more. Mets have just their second three game
Speaker 1: will do threek of the season. They have a double
Speaker 1: header in Pittsburgh today, Yankees and Twins will play two
Speaker 1: in the Bronx to make that last night's rain. Now
Speaker 1: the Yanks are banged up, fifteen players on the injured list.
Speaker 1: Anthony Rizzo just went on with migraine headaches. D J
Speaker 1: Lemah who's got a bad tow John Carlos Stanton had
Speaker 1: to lead one day's game of injured fourth the Lex Rays,
Speaker 1: where negative Tampa Bay beat the Red Sox. The Red
Speaker 1: Hot Rays only four and a half games behind the Yanks.
Speaker 1: They crowd at the US Open last night came out
Speaker 1: to see the American teenager Coco goff and then the
Speaker 1: entertaining ausee Nick Kurios, but they've both lost their quarterfinal matches.
Speaker 1: Goffel the Caroline Garcia's freight sets and Carrios in a
Speaker 1: match that ended at one am, lost the five center
Speaker 1: to Russians. Rushas car and catch on Off. Giants getting
Speaker 1: ready for Sunday season opener at Tennessee and the concern
Speaker 1: for new Giants coach Brian dave ball Is Titans running
Speaker 1: back documented his what he's done so far. He's he's
Speaker 1: just a really good football player. I know him as
Speaker 1: a person to uh have him, got a down a
Speaker 1: few times in Alabama. Got a ton of respect for him.
Speaker 1: And as a man, and and and certainly as a player.
Speaker 1: He's uh, he's one heck of a player. Who's you
Speaker 1: name it, he can do it. If the Giants can
Speaker 1: upset the Titans, they'll have an over five hundred record
Speaker 1: for the first line to two thousand and sixteen. Jets
Speaker 1: open Sunday with Baltimore. The season kicks off tomorrow. John
Speaker 1: stashually I were Bloomberg Sports. John thanks five thirty seven
Speaker 1: on Wall Street Time for the Tri State Business Report
Speaker 1: with Bloomberg's that Cory R XR has landed at one
Speaker 1: point three billion dollars refinancing loan for a Time Square
Speaker 1: office towers and ramps up building improvements. Backers for the
Speaker 1: five times Square loan include Morgan Stanley, Apollo Global, and
Speaker 1: a I G. R XR and its partners have invested
Speaker 1: another three hundred million dollars to help renovate the site.
Speaker 1: New York farms, orchards and dairies would be on the
Speaker 1: hook for more overtime pay under a proposal being reviewed
Speaker 1: by regulators. The Farm Laborers Wageboard recommends over time pay
Speaker 1: be phased in for those working more than forty hours,
Speaker 1: down from a current sixty hours. New Jersey pot companies
Speaker 1: and state regulators are challenged by a hodgepodge of rules.
Speaker 1: Documents obtained by Bloomberg show the State Cannabis Regulatory Commission
Speaker 1: issued citations to seven companies January through mid April two,
Speaker 1: and marijuana sales broadened from medical to recreational. That's your
Speaker 1: Bloomberg Try State Business report. I'm ind Corey. Thanks on
Speaker 1: Wall Street. Bloomberg Radios on the air from San Francisco
Speaker 1: to New York, London to Han Kong. Let's check in
Speaker 1: with our global news team for some of the top
Speaker 1: stories heard on our three hundred affiliate radio stations around
Speaker 1: the world. I'm Steve Podas and on ten ten Wins
Speaker 1: in New York, we're talking about how Seattle based Nordstrom
Speaker 1: is putting New York City Center state. I'm Cornets on
Speaker 1: a hole on ktr H in Houston. Chesapeake Energy says
Speaker 1: that there's lots of interests in it's Eglford Sail assets.
Speaker 1: I'm Gina Servetti in for wfl A and Orlando. I'm
Speaker 1: reporting that a new Gallant pole shows that about half
Speaker 1: of US workers could be considered quiet quitters. I'm Stephen
Speaker 1: Carol and Bloomberg DAB Digital Radio and London. We've been
Speaker 1: reporting on the first meeting of Les Truss's cabinets after
Speaker 1: she promoted her supporters into the top jobs. Bid Cory
Speaker 1: on w W Jane Detroit. I'm reporting Eastern Michigan University
Speaker 1: faculty have voted to dry. And those are some of
Speaker 1: the stories our twenty seven Bloomberg journalists and analysts are
Speaker 1: working on this morning. Around the world, It's nine on
Speaker 1: Wall Street. The following is an editorial from Bloomberg Opinion.
Speaker 1: This editorial was written by the Bloomberg Editorial Board. It's
Speaker 1: not every day that the International Atomic Energy Agency dispatches
Speaker 1: monitors looking like Hollywood action heroes, but that's an apt
Speaker 1: description of the i a e. A team recently sent
Speaker 1: to inspect the Zapparitzia nuclear power plant in Ukraine, which
Speaker 1: Russia seized in March. It's Europe's largest nuclear reactor complex,
Speaker 1: and it sits right on the front line between the
Speaker 1: Ukrainian defenders and Russian invaders. The i a e a's
Speaker 1: goal is to avert a radiation disaster. Putin will never
Speaker 1: agree to unilaterally withdraw his troops and yield the plant
Speaker 1: to the Ukrainians, which would amount to retreat. So the
Speaker 1: goal of negotiations must be the creation of a demilitary
Speaker 1: zone in and around the nuclear complex. Such a solution
Speaker 1: will be extremely difficult to achieve, that anything less could
Speaker 1: be disastrous. The senatorial was written by the Bloomberg editorial Board.
Speaker 1: For more Bloomberg opinion, please go to Bloomberg dot com,
Speaker 1: Slash Opinion or ope I n go on the Bloomberg terminal.
Speaker 1: This has been Bloomberg opinion, and you are listening to
Speaker 1: Bloomberg Daybreak. Listen for Bloomberg opinion editorials every weekday at
Speaker 1: this time. Terminal customers can read more at O P
Speaker 1: I n go Bloomberg eleven three oh weather rain, low
Speaker 1: seventies today, will clear out, get into the upper seventies
Speaker 1: tomorrow right now sixty six in Central Park Markets. Headlines
Speaker 1: and breaking news twenty four hours a day at Bloomberg
Speaker 1: dot com, the Bloomberg Business Out, and at Bloomberg Quick Tape.
Speaker 1: This is a Bloomberg Business blash, and I'm Karen Moscow
Speaker 1: s doctor commodities are dropping as the prospect of aggressive
Speaker 1: Federal Reserve monetary tightening lifts a dollar gage to another record,
Speaker 1: and futures meanwhile are moving higher. We checked the markets
Speaker 1: every fifteen minutes throughout the trading day on Bloomberg. Right now,
Speaker 1: usin P futures are up about five points down, future
Speaker 1: is up twenty nast day features up thirty one and
Speaker 1: the decks in Germany's down half percent. Ten year treasury
Speaker 1: up ten thirty seconds l three point three one percent.
Speaker 1: They yield on the two year three point four six percent.
Speaker 1: Nine max screwed oil is up seven tenths percent or
Speaker 1: sixty four cents at eighty seven dollars fifty two cents
Speaker 1: a barrel. Comex s foold is up a quarter of
Speaker 1: a percent of three dollars eighty cents a seventeen sixteen
Speaker 1: seventy announced. The euro at point nine o nine against
Speaker 1: the dollar, British found one point one eight zero and
Speaker 1: the yen one forty four point one five, and bitcoin
Speaker 1: is down one percent at eighteen thousand, seven hundred eighty dollars.
Speaker 1: That's a Bloomberg business flash. Now here's John Tucker with
Speaker 1: more on what's going on around the world. John and
Speaker 1: Karen Steve Van of the one time Trump adviser expected
Speaker 1: to surrender tomorrow to New York authorities to face state
Speaker 1: criminal charges. California narrowly of it at blackouts for a
Speaker 1: second successive day, even as the blistering temperatures there pushed
Speaker 1: electricity demand to a record at Chinese leader Shooing Ping
Speaker 1: planning his first trip abroad into and a half years.
Speaker 1: According to Tas, he's going to meet with the Russian counterpart,
Speaker 1: Vladimir Putin in Uzbekistan next week. Sports last night, Mets
Speaker 1: lost to the Pirates, Red Sox lost to the Rays,
Speaker 1: the Odes beat the Blue Jays, Nationals lost to the Cardinals,
Speaker 1: the A's filled to the Braves, Giants lost to the Dodgers,
Speaker 1: and the Yankees game against the Twins that was rained out.
Speaker 1: They're gonna make that at game up today. Global News
Speaker 1: twenty four hours a day on air and a Bloomberg
Speaker 1: Quick Take power by more than twenty seven hundred journalists
Speaker 1: and analysts. It more than one hundred twenty countries. I'm
Speaker 1: John Tucker. This is Bloomberg. Nathan Okay, John, thank you.
Speaker 1: We're coming up to five nine on Wall Street Live
Speaker 1: from the Bloomberg Interactive Brokers studios. This is Bloomberg Daybreak
Speaker 1: on a morning where we are continuing to see dollar
Speaker 1: strength ripple through markets, global stocks moving lower, futures touch higher.
Speaker 1: They've been kind of fluctuating this morning, but right now
Speaker 1: we have SMP futures up six points. That's again of
Speaker 1: about two tenths of one percent. But the number of
Speaker 1: the day this day is fourteen. That's the next edition
Speaker 1: iPhone Apple is expected to unveil at its latest launch event,
Speaker 1: dubbed far Out. For more on what to expect from Coopertino,
Speaker 1: we are joined this morning by Alex Web, Bloomberg Quick
Speaker 1: Take anchor tech columnists for Bloomberg Opinion. Alex, how far
Speaker 1: out is this product launch going to be? Well? Actually,
Speaker 1: the title is always a bit of a puzzle that
Speaker 1: people try to get their heads around, and the suspicion
Speaker 1: is that it's something to do with satellite communications, that
Speaker 1: there might be a feature which if you don't have
Speaker 1: a cell phone signal, that you can text emergency service
Speaker 1: or something using these sort of low earth orbit satellites
Speaker 1: such as Starlink. You know, the the Elon must thine,
Speaker 1: But really that's not going to be the headline product
Speaker 1: launches here. We're going to see two new um iPhones
Speaker 1: so well a new two new pro iPhones, and two
Speaker 1: new standard iPhones as well as a pro version of
Speaker 1: the Watch and that probably is going to be a
Speaker 1: bigg takeaway. Yeah, our Mark German was reporting that the
Speaker 1: pro versions we're going to be the devices that saw
Speaker 1: more of the bells and whistles that a lot of
Speaker 1: analysts expect to see from the newest Apple products. How
Speaker 1: significant could we see in terms of changes of design,
Speaker 1: changes of hardware in in some of these higher end
Speaker 1: Apple products. So the thing we know every new lineup
Speaker 1: of of iPhones has an improved processor and improved camera
Speaker 1: and it's going to be no different this time around.
Speaker 1: The the big camera update is gonna is it likely
Speaker 1: to be? This is also you know marks reporting forty
Speaker 1: eight megapixel rear facing camera on the on the pro
Speaker 1: version of of the iPhone. Ah, the main form factor
Speaker 1: change is it's like to be a smaller notch. That's
Speaker 1: what the enthusiasts called that. The little dent at the
Speaker 1: top of your display which houses the front facing camera
Speaker 1: face I d things like that So that's really going
Speaker 1: to be the the change here. Yeah, I guess the
Speaker 1: the question that always tends to come up with product
Speaker 1: bunches like this, especially when we get closer to the
Speaker 1: holiday shopping season, is whether we're going to see a
Speaker 1: market for higher end products from Apple. I mean, they're
Speaker 1: always higher priced products, but given the economic environment we
Speaker 1: find ourselves in right now, can Apple count on people
Speaker 1: being willing to plunk down upper three maybe four figures
Speaker 1: for for a new iPhone. So actually, some of the
Speaker 1: interesting reporting we've seen from o Qualities, particularly de w
Speaker 1: Wu and Taiwan is to do with how many devices
Speaker 1: Apple has ordered from its suppliers, and the suggestion is
Speaker 1: they've all died about the same as last year. Now,
Speaker 1: you could say that's good news, but given it's like
Speaker 1: could be a slightly bigger upgrade to the iPhone than
Speaker 1: it was a year earlier, that often would drive more
Speaker 1: of a sales uplifts. So the fact that all the
Speaker 1: reporting that suggests that sales perhaps might be flat compared
Speaker 1: to last year, you can maybe infer from that that, yes,
Speaker 1: there is an impact from you know, the inflation which
Speaker 1: is squeezing so many people's you know, wallets at the moment,
Speaker 1: and Apple also obviously has the ability to squeeze more
Speaker 1: money out of its customers through you know, the services
Speaker 1: that subscriptions that people have, but in terms of device
Speaker 1: sales it may not be as many. Now. The final
Speaker 1: wrinkled to that is, of course, that the price point
Speaker 1: is likely to be higher still to offset some of
Speaker 1: those declines. So from an invest perspective, there's not a
Speaker 1: huge concern. Now. We know a lot of investors, analysts,
Speaker 1: and buyers gonna be watching what comes out of Cooper
Speaker 1: Tino this afternoon one pm Wall Street time. We're gonna
Speaker 1: have frequent updates for you on this far out Apple day.
Speaker 1: Thanks for this, alex Web. Good having on with us,
Speaker 1: Alex Web. Bloomberg Quick Take anchor Tech columnists from Bloomberg Opinion,
Speaker 1: Karen Nathan. It is five three on Wall Street time
Speaker 1: for the Bloomberg Report. Let's get to the legal stories
Speaker 1: we're watching this morning with Bloomberg's Jeff Bellinger. Infringement suits
Speaker 1: filed in New York and Texas federal courts charge that A.
Speaker 1: T and T and Verizon failed to terminate the internet
Speaker 1: services of users who engaged in online piracy. New York's
Speaker 1: Farm Laborer's Wageboard recommends that the state phase in a
Speaker 1: forty hour work week for farm, orchard and dairy workers,
Speaker 1: down from the current sixty hours. The University of Delaware
Speaker 1: went to court seeking an order allowing it to confiscate
Speaker 1: knockoffs of university branded merchandise sold on school property during
Speaker 1: home football games. Bloomberg Law everything you need, all on
Speaker 1: one legal research platform, including guidance analysis and Bloomberg market Intelligence.
Speaker 1: Find out more at Bloomberg law dot com. Right, Jeff,
Speaker 1: thank you now. Another legal story we're watching. In a
Speaker 1: legal victory for former President Donald Trump, a federal judge
Speaker 1: on Monday granted his request for a special stare to
Speaker 1: review documents seized by the FBI from his Florida home,
Speaker 1: and also stopped the Justice Department from using the records
Speaker 1: in its investigation into the presence of top secret information
Speaker 1: at Mara Logo. The Justice Department has not announced yet
Speaker 1: whether it will appeal the judge's order. For more, Bloomberg
Speaker 1: student Grosso speaks to former federal prosecutor Jimmy Garouli, or
Speaker 1: professor at Notre Dame Law School. When I first heard
Speaker 1: about this motion by Trump, frankly, I thought it was
Speaker 1: a little bizarre and had no chance at all. What
Speaker 1: was your reaction when you heard the judge had decided
Speaker 1: to appoint a special master. Well, I was surprised by
Speaker 1: the decision, and then when I read the decision, I
Speaker 1: was even more concerned by the lack of really thoughtful
Speaker 1: legal reasoning. It's a deeply flawed ruling an opinion. And
Speaker 1: I would say this as a law professor. Had this
Speaker 1: been the quality product that one of my students had
Speaker 1: submitted for a grade, I'm not or that it would
Speaker 1: received a passing grade. What do you think about the
Speaker 1: judge basically accepting Trump's claims of executive privilege here? The
Speaker 1: problem with that claim is that there's no legal authority
Speaker 1: whatsoever for the proposition that a former president of the
Speaker 1: United States may properly invoke executive privilege. And more so,
Speaker 1: it's problematic because executive privilege has been raised in the
Speaker 1: context of whether or not Congress the legislature can access
Speaker 1: presidential documents, not whether the executive branch itself can access
Speaker 1: such documents. And that's the case here, and there's no
Speaker 1: authority for that proposition whatsoever. And by the way, Judge
Speaker 1: Cannon admits that this is an open issue, does not
Speaker 1: cite any authority for the proposition that executive privilege applies here,
Speaker 1: and he grants a restraining order on the Department of
Speaker 1: Justice the FBI from continuing to investigate the matter while
Speaker 1: these eleven thousand documents are being reviewed by the Special Master.
Speaker 1: And the legal standard for an injunction is first and
Speaker 1: foremost number one, a substantial likelihood of success on the merits.
Speaker 1: And then you find that there is a substantial likelihood
Speaker 1: of success on the merits. But the merits here involved
Speaker 1: whether the executive privilege applies to a former president with
Speaker 1: respect to request from the executive branch. That's an open question.
Speaker 1: How can there be a substantial likelihood of success that
Speaker 1: there's this executive privilege that applies here when there's no
Speaker 1: authority to support it whatsoever. So that just is an
Speaker 1: absurd conclusion. Is it unheard of for a district judge
Speaker 1: to enjoin a federal criminal investigation. I'm unaware of any precedent.
Speaker 1: If there is precedent, it is extremely, extremely rare for
Speaker 1: the judiciary to intervene in an executive ranch criminal investigation
Speaker 1: and order that that investigation be halted. And that's Jimmy Garolier,
Speaker 1: professor at Notre Dame Law School, speaking with Bloomberg June Grass.
Speaker 1: So catch more of that interview plus analysis of the
Speaker 1: latest legal news by subscribing to the Bloomberg Law Podcast
Speaker 1: or downloading the show at Bloomberg dot com slash podcast.
Speaker 1: Attorneys can find exceptional legal research and business development tools
Speaker 1: at Bloomberg Law dot com and on the Bloomberg terminal
Speaker 1: at b law Go. Futures this morning are on the rise,
Speaker 1: SMP futures up, Abody points down, futures up thirty nine,
Speaker 1: and nasday futures up about thirty seven and the tenure
Speaker 1: Treasury up ten thirty seconds CL three point three zero
Speaker 1: per cent. Our top stories are straight ahead, and this
Speaker 1: is Bloomberg