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

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Speaker 1: Daybreak for Tuesday, April two. Coming up this hour, Elon

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Speaker 1: Musk pulls off one of the biggest leveraged buyouts in history.

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Speaker 1: We have team coverage of his Twitter takeover, Microsoft and

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Speaker 1: Apple leave the earnings parade today, and Russia's foreign minister

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Speaker 1: warns the risk of nuclear war can't be underestimated. Resident

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Speaker 1: Trump's legal troubles continue with New York's a G plus.

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Speaker 1: The southern border remains closed for migrants after a judge

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Speaker 1: kept titled forty two in place. On Michael barn More Ahead,

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Speaker 1: I'm John stand Sports. The next season is over, swept

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Speaker 1: by the Celtics and ninthin rally for the Mets to

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Speaker 1: win in St. Louis. That's all s traded ahead on

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Speaker 1: Bloomberg Daybreak on Bloomberg eleven three, on New York, Bloomberg

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Speaker 1: nineteen nine one, Washington, d C, Bloomberg one oh six one, Boston,

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Speaker 1: Bloomberg nine sixties, and Francisco Sirius x M one nine team,

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Speaker 1: and around the world on Bloomberg Radio dot Com and

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Speaker 1: via the Bloomberg Business App. Good morning, I'm Nathan Hagar

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Speaker 1: and I'm Karen Moscow and US DOT Index futures are

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Speaker 1: lower this morning. We are coming up to six o

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

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Speaker 1: fifteen minutes throughout the trading day. On Bloomberg, SNP Future

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Speaker 1: is down ten points this morning. Down Future is down

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Speaker 1: eighty eight. NAST day futures down thirty three ten. Your

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Speaker 1: Treasury up eight thirty seconds, held two points seven eight

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Speaker 1: percent in the yield and the two year two point

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Speaker 1: five nine percent, and I'm ex screwed Oil is down

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Speaker 1: three quarters of a percent, Nathan Karen. We begin this

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Speaker 1: morning with one of the biggest leveraged buyouts in history.

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Speaker 1: Elon Musk has clinched a forty four billion dollar deal

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Speaker 1: to take Twitter private. Investors will receive fifty four dollars

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Speaker 1: and twenty cents for each Twitter share they own. We

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Speaker 1: have team coverage for you this morning, starting with Ed

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Speaker 1: Ludlow in our Bloomberg nine sixty newsroom in San Francisco.

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Speaker 1: Ed has more on four changes Musk may make to

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Speaker 1: the platform going forward. It's four main things and edit

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Speaker 1: button that is time sensitive. He's talks about that removing

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Speaker 1: bots from the platform. He's talks about that open sourcing

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Speaker 1: the algorithm and looking at the lying technology for Twitter,

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Speaker 1: and then finally he's going to look at the issues

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Speaker 1: of vans. Elon Musk basically framed it as being he

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Speaker 1: was more in favor of time outs than all out

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Speaker 1: bands on the platform, Bloomberg said. Ludlow says the deal

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Speaker 1: was approved unanimously by Twitter's board. It's expected to be

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Speaker 1: completed later this year. So where will Elon Musk get

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Speaker 1: the cash to buy Twitter? Bloomberg's Renida Young continues our

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Speaker 1: team courbadge and joins us live in New York with

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Speaker 1: that part of the story. Good Morning Ray to Good

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Speaker 1: morning Karen. It's the twenty one billion dollar mystery. Now

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Speaker 1: there's little doubt Elon Musk can come up with the money.

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Speaker 1: After all, the Bloomberg Billionaires Index shows he's the world's

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Speaker 1: richest person with a fortune of two hundred fifty seven

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Speaker 1: billion dollars. But Bloomberg estimates show Musk has just about

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Speaker 1: three billion in cash and somewhat liquid assets, So that

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Speaker 1: leaves him with at least three options for financing. One

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Speaker 1: way find other investors who buy into his vision, and

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Speaker 1: he's already hinted at this past ability. Another, he could

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Speaker 1: sell some of his steak in Tesla, but that will

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Speaker 1: likely put the stock price at risk. And Thirdly, since

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Speaker 1: Musk is likely even richer than calculated by the Bloomberg

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Speaker 1: Billionaires Index, he might not even need new sources of

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Speaker 1: funding to cover the twenty one billion dollars. Live in

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Speaker 1: New York. I'm gonna need a Young Bloomberg daybreak. We

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Speaker 1: need a thanks now. Some lawmakers are pushing back against

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Speaker 1: the buyout. Senator Elizabeth Warren is calling Musk's Twitter deal

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Speaker 1: dangerous At Baxter continues our team coverage from our Bloomberg

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Speaker 1: nine sixty news room in San Francisco. Musk and Warren

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Speaker 1: are familiar foes. They've had battles over a number of issues,

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Speaker 1: but Warren's verbiage here is very strong. She says the

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Speaker 1: deal is dangerous for our democracy. She says, quote billionaires

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Speaker 1: like Elon Musk played by a different set of rules

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Speaker 1: than everyone else, accumulating power for their own gain. It's

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Speaker 1: dangerous because one billionaire decides how millions of people will

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Speaker 1: have an opportunity to communicate with each other. The deal

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Speaker 1: has potential roadblocks, beginning with the SEC but this one

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Speaker 1: threatens to be very heated in San Francisco. I'm at

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Speaker 1: Baxter Bloomberg Gay break all right, and thanks so I

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Speaker 1: have more analysis on the Musk Tritter deal in a

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Speaker 1: few minutes, and we speak with Bloomberg Quick takes Alex Webb. Well.

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Speaker 1: Now to the latest on the war in Ukraine. Nathan.

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Speaker 1: Russian Foreign Minister Sergei Lavrov warns the risk of nuclear

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Speaker 1: war is real and cannot be underestimated. That's after Defense

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Speaker 1: Secretary Lloyd Austin said the US wants to see Russian

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Speaker 1: forces weakened in Ukraine. This morning, Secretary Austin is pledging

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Speaker 1: continued US support. Ukraine has done a magnificent job defending

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Speaker 1: its sovereignty against Russia's unprovoked invasion, and Defense Secretary and

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Speaker 1: skill will go down in military history. And Defense Secretary

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Speaker 1: Lloyd Austin spoke this morning from Ramstein Air Base in Germany. Meantime,

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Speaker 1: the White House says President Biden also working on his

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Speaker 1: next request for Ukraine eight to Congress. Theah Whinehouse is

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Speaker 1: also taking action on COVID care, and the Biden administration

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Speaker 1: plans to allow all pharmacies towarder Finser's COVID nineteen therapy

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Speaker 1: pill as it looks to boost access to the drug,

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Speaker 1: is supplying races. Starting this week, Tens of thousands of

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Speaker 1: pharmacies will be able to order the drug since it

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Speaker 1: started a pandemic. Nathan, Global events and meetings have gone virtual,

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Speaker 1: but now FED chair J Powell is set to hold

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Speaker 1: this first in person press conference since Covid emerged. Help

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Speaker 1: me live with reporters following the conclusion and next week's

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Speaker 1: two day policy meeting well. Inflation will be a main

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Speaker 1: focus for how at that news conference. Karen and data

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Speaker 1: this morning show prices heading even higher for consumers. According

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Speaker 1: to a survey from the National Federation of Independent Business

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Speaker 1: for and ten US small businesses planned to raise prices

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Speaker 1: by at least ten percent. On Wall Street Today, Nathan,

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Speaker 1: we get a clearer picture of how big business is faring.

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Speaker 1: Earnings role in this afternoon for a Microsoft and Google,

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Speaker 1: we get a preview from Bloomberg's John Tucker. Google parent

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Speaker 1: Alphabet has been held by a rebound and digital advertising,

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Speaker 1: but the shares of Light and the stock will also

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Speaker 1: face some more difficult year over year growth comparison. Analysts

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Speaker 1: estimate earnings per share of dollars seventy three cents, down

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Speaker 1: two percent from a year earlier. At Microsoft, analysts are

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Speaker 1: expending earning for sure of two nineteen, the company may

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Speaker 1: report strong cloud results that could more than offset any

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Speaker 1: potential weakness in its consumer business. John Tucker, Bloomberg Daybreak,

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Speaker 1: All right, John, thank you and crossing the Bloomberg ups

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Speaker 1: is first quarter cross profit beating analysts estimates, and PepsiCo's

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Speaker 1: organic revenue forecast for the year also beat. Nathan. It's

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Speaker 1: also a big day for earnings in Europe, Karen. We

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Speaker 1: get the very latest on that with Bloomberg's You and

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Speaker 1: Parts in London. Good Morning You, and good morning Nathan

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Speaker 1: and Karen. A trio of banking sector beats this morning.

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Speaker 1: Ubs riding a trading boom with better than expected profit

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Speaker 1: in the first quarter, but the Swiss banks key wealth

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Speaker 1: management business hit by slowing clients activity and rising costs.

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Speaker 1: Spain's Santane also beating estimates, with the retail banking giants

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Speaker 1: geographical reach providing a buffer against growing economic risks, and

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Speaker 1: a just BC posting a smaller drop in adjusted pretax

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Speaker 1: profit than analysts predicted. Europe's biggest bank reporting lower than

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Speaker 1: expected credit loss provisions in London, Immune Parts, Bomberg daybreak,

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Speaker 1: All right you and thank you right now. I some

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Speaker 1: futures are down nine points down, futures down eighty NASTAC

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Speaker 1: futures are lower by thirty one points. The tenure treasury

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Speaker 1: is up eight thirty seconds, yield two point seven percent.

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Speaker 1: Yield on the two year two point six zero percent.

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Speaker 1: Nimex crew down a half percent at ninety eight dollars

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Speaker 1: nine cents of barrel. Local headlines in sports. Next, this

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Speaker 1: is Bloomberg. Sounds six oh seven on Wall Street. We're

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Speaker 1: fifty two degrees in Central Park. We have an accident

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Speaker 1: on the eastbound Cross Bronx Expressway at the Deagan. Details

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Speaker 1: coming up in traffic. First Michael Barr with more on

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Speaker 1: what's going on in New York and around the world.

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Speaker 1: Good morning, Michael, Good morning, Nathan. And New York judges

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Speaker 1: found former President Donald Trump in contempt of court for

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Speaker 1: failing to adequately respond to a subpoena issued by the

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Speaker 1: state's attorney general asked part of a civil investigation into

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Speaker 1: his business dealings. The judge ordered Trump to pay a

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Speaker 1: fine of ten thousand dollars per day. New York Attorney

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Speaker 1: General Letitia James had asked the court to hold Trump

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Speaker 1: in contempt after he missed a March thirty, first quarter

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Speaker 1: imposed deadline to turn over documents. Trump has called her

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Speaker 1: investigation of politically motivated which hunt. A federal judge in

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Speaker 1: Louisiana has temporarily blocked the Biden administration from lifting the

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Speaker 1: border restrictions put in place during the coronavirus pandemic. Title

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Speaker 1: forty two was supposed to be lifted on May. The

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Speaker 1: temporary restraining order was requested by its twenty one Republican

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Speaker 1: led states. Bloomberg political contributor Rick Davis says, it seems

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Speaker 1: the Biden administration has bungled its administration policy, and it

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Speaker 1: just seems like they haven't really focused on what the

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Speaker 1: impact is at the state level. They didn't consult states

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Speaker 1: that are impacted by the border, and and now the

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Speaker 1: whole thing seems to be adding a lot of confusion. Frankly,

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Speaker 1: very reminiscent of the current COVID policy. Whether it just

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Speaker 1: doesn't seem to be a strategy and play here. Bloomberg

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Speaker 1: political contributor Rick Davis spoke with Abur Washington corresponded Joe

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Speaker 1: Matthew on Bloomberg Sound on Catch the program weekdays at

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Speaker 1: five pm Eastern on Bloomberg Radio. Workers at a second

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Speaker 1: Amazon dot Com warehouse in Staten Island again voting Monday

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Speaker 1: on whether to join an upstart union that already won

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Speaker 1: a historic election at a nearby facility. Employees at the

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Speaker 1: warehouse called l d J five will cast their ballots

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Speaker 1: through Friday, with the results expected as early as many seconds.

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Speaker 1: Two days before a mother of fourteen children was scheduled

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Speaker 1: to die in a Texas death chamber, Melissa Luccio, received

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Speaker 1: a last minute reprieve. Supporters of Luccio, accused of killing

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Speaker 1: her two year old child, found a forensic expert who

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Speaker 1: says her child's fatal injuries were consistent with an accidental fall.

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Speaker 1: Luccio's son, John Luccio, We're gonna believe in God, and

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Speaker 1: we're gonna continue believe in him and keeping to keep

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Speaker 1: our faith up with him in a keep on fighting

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Speaker 1: this fight. Will we bring her home. She's no longer

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Speaker 1: going to be executed. My mother will be free soon,

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Speaker 1: John Luccio says. A court to rule on the new evidence.

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Speaker 1: Global News twenty four hours a day on air and

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Speaker 1: on Bloomberg Quick Take powered by more than twenty seven

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

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Speaker 1: H Michael Barr, This is Berg, Nathan Thanks Michael almost

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Speaker 1: six cent on Wall Street time for the Bloomberg Sports

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Speaker 1: that Day with John stanho Al Nathan. This NBA season

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Speaker 1: began with high hopes for the New York teams. The

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Speaker 1: Knicks were expected to release make the playoffs and Nets

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Speaker 1: were expected to compete for the championship. Neither thing happened.

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Speaker 1: The Celtics completed the first round sweet for the Nets,

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Speaker 1: taking Game four in Brookelyn one sixteen to one twelve

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Speaker 1: Jason Tatums twenty nine points. Boston survived Tatum fouling out

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Speaker 1: on the fourth quarter. Kevin Durant so quiet the first

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Speaker 1: three games of the series, did come alive with thirty

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Speaker 1: nine points, but Durant goes out in the first round

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Speaker 1: for the first time in his career. He also had

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Speaker 1: never gotten swept in a series before k d is signed.

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Speaker 1: He should be back in Brooklyn. Tier Herby may not be.

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Speaker 1: Who knows about Ben Simmons. He was acquired for James

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Speaker 1: Harden and never did play this season. Toronto stayed alive

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Speaker 1: at Game five win in Philadelphia, whose lead is now

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Speaker 1: three to Dallas beat Utah by five to go up

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Speaker 1: three too. In memphisis John Morant named the nbass comproved

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Speaker 1: play the Mets in St. Louis, Max Shers are terrific.

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Speaker 1: Seven ames, no runs, two hits, ten strikeouts. We got

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Speaker 1: no run support, and the Cardinals broke up a scoreless

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Speaker 1: game with two runs in the eighth inning. The Mets

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Speaker 1: then rallied in the ninth. Diego's ready as pitch, So

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Speaker 1: we're gonna ground ball toward first. Cold Schmidt a diving stop.

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Speaker 1: Nobody's covering first? What the Diego? Smith? This safe? Big deal? Run?

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Speaker 1: Third throw home d safe. The Mets have the lead.

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Speaker 1: tonight at the Garden. John Stash with Bloomberg Sports. All right, John,

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Speaker 1: thanks and just In. Elon Musk has filed an amended

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Speaker 1: the merger. Pack much more on Elon Musk's By out

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Speaker 1: of Twitter, we'll be speaking with Alex Webb of Bloomberg Quicktake.

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Speaker 1: This is Bloomberg Bloomberg eleven three oh weather mostly cloudy today,

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Speaker 1: chancefer showers with behind your sixty five degrees that will

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Speaker 1: be mostly sunny tomorrow, upper fifties high your fifty five Thursday,

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Speaker 1: mostly sunny and breezy by then. Right now fifty two

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Speaker 1: Bloomberg Business at and at Bloomberg Quick Take. This is

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Speaker 1: a Bloomberg Business lash and I'm Cameron Moscow and US

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Speaker 1: stock index futures are lower ahead of a slew of earnings.

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Speaker 1: We already heard from PepsiCo this morning. At raised its

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Speaker 1: hundred fifteen NSDAG futures down forty eight. Ten year treasury

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Speaker 1: up eight thirties seconds, YELD two point seven eight percent.

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Speaker 1: That yield on the two year to point six zero percent.

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Speaker 1: Gold is up half percent or ten dollars ten cents

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Speaker 1: here's muchael bar with more unless going on around the world.

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Speaker 1: Muckel Karen, thank you very much. Russian foreign ministers Sergei

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Speaker 1: Lavrov warned Ukraine against provoking World War three. Lab Rof

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Speaker 1: over additional information to Annuary sixth congressional investigators. More than

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Speaker 1: two thousands of Meadows text first reported by CNN, have

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Speaker 1: trump staunches allies in Congress wanted him to declare martial

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Speaker 1: NBA playoffs, the Celtics eliminated the Nets. Boston beat Brooklyn

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Speaker 1: one sixteen, one twelve to sweep the series in four games.

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Speaker 1: In MLB, the Mats and Giants won, the Red Sox lost.

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Speaker 1: Global news twenty four hours a day on air and

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Speaker 1: on Bloomberg Quicktake Power by more than twenty seven hundred

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Speaker 1: journalist and analysts more than a hundred twenty countries. Michael

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Speaker 1: Barr and this is Bloomberg. Nathan alright, Michael, thank you.

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Speaker 1: At six nineteen on Wall Street Live from the Bloomberg

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Speaker 1: Interactive Broker Studios. This is Bloomberg Daybreak, and our team

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Speaker 1: coverage of Elon Musk's forty four billion dollar buyout of

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Speaker 1: Twitter continues. Now we're very pleased to be joined this

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Speaker 1: morning by Alex Webb, Bloomberg Quick Take correspondent and tech

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Speaker 1: columnists for Bloomberg Opinion. Alex, you have written ex stensively

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Speaker 1: about the lead up to this buy out, the potential

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Speaker 1: for Elon Musk to take Twitter private, and I guess

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Speaker 1: one of the biggest among the many questions that still

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Speaker 1: have to be answered is how is Elon Musk going

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Speaker 1: to change Twitter. Here's a question that is befuddling a

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Speaker 1: lot of us. He look, he's made a few comments

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Speaker 1: about the operations of the company. The key things he

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Speaker 1: can go in one of two directions. You can go

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Speaker 1: in both. There are financial changes he can make to

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Speaker 1: improve profit and there are things that he can change

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Speaker 1: that suit his own personal agenda. Namely, he talks a

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Speaker 1: lot about trying to make it a platform for free

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Speaker 1: speech one. But he's also secured debt financing from a

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Speaker 1: lot of reputable banks, and he made presentations, has been

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Speaker 1: reported by our colleagues and Blue Veg News, he made

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Speaker 1: presentations which convince them that he does have a financial

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Speaker 1: model for the company. So then you have to look

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Speaker 1: at that and go, well, is it about adding more

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Speaker 1: users or is it about extracting more value from the

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Speaker 1: users that you have. The second piece is the easier

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Speaker 1: leave at to pull. You've already got that audience, and

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Speaker 1: so you've got to think about whether it's a subscription

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Speaker 1: model or just extracting more advertising value from those users.

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Speaker 1: We've seen another of the mega millionaire billionaires, Jeff Bezos

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Speaker 1: uh sort of taking a swipe at Elon Musk on

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Speaker 1: Twitter after this news came out. Kind of raised maybe

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Speaker 1: an ad left field question for me. I wonder if

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Speaker 1: there's a parallel to be drawn here between Jeff Bezos

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Speaker 1: buying out the Washington Post and Elon Musk buying out

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Speaker 1: Twitter sort of a media play as sort of a

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Speaker 1: free speech platform in that to that extent, So I

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Speaker 1: think on one level there are parallels, namely that you

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Speaker 1: know a lot of billionaires by big media assets. We've

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Speaker 1: got Time magazine, which is owned by Mark Bennioff, obviously

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Speaker 1: Bezos of the Washington Post, the John Edwards zones at

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Speaker 1: the Boston Globe, and Twitter is essentially the biggest available

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Speaker 1: media platform media outlet. There's a substantial difference, though Bezos

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Speaker 1: committed to not intervening editorially with The Washington Post and certainly,

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Speaker 1: looking from the outside, it appears that he has held

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Speaker 1: true to that promise. Elon from the get go has

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Speaker 1: made it very clear that he intends to intervene with

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Speaker 1: the way that Twitter is run, and if it's all

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Speaker 1: about free speech, with the politics of it. So there

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Speaker 1: are similarities, but there is that crucial difference. Yeah, we've

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Speaker 1: certainly seen that influence playing out on Elon Musk's Twitter

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Speaker 1: feed itself. And I wonder if we could sort of

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Speaker 1: glean from the many tweets that Elon Musk has put

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Speaker 1: out there, which ideas is he serious about, which ones

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Speaker 1: is he just sort of putting out there just to

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Speaker 1: get people talking. The split The free speech one is

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Speaker 1: clearly top of the list. Quite what that entails, you know,

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Speaker 1: the proof is in the pudding. Doesn't mean Donald Trump

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Speaker 1: comes back onto the platform. It would certainly seem that way.

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Speaker 1: But there are again important caveats here. There are a

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Speaker 1: whole raft of regulations in the works around the world.

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Speaker 1: Just last week, the European Parliament agreed on a set

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Speaker 1: of proposals to limit or or place important checks and

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Speaker 1: measures over what can be posted on social media, damaging content,

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Speaker 1: criminal content, online harms, similar stuff is in the works

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Speaker 1: in the US and in the UK that will limit

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Speaker 1: his ability to do to be a true free speech absolutist.

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Speaker 1: The operational stuff, he has not really talked about how

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Speaker 1: to make it more profitable than it is right now. Now, clearly,

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Speaker 1: if it's a private company, the impetus for growth is

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Speaker 1: not going to be as high, but he will need

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Speaker 1: to be repaying banks for the debt that he's raised.

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Speaker 1: That means that he needs to generate some cash flows,

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Speaker 1: and there are ways you can do that by, for example,

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Speaker 1: increasing the odd exposures of people you already have, or

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Speaker 1: as I said, perhaps thinking about a subscription model where

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Speaker 1: that is harder to generate growth, but it can give

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Speaker 1: you more predictable cash flows, which is something that of

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Speaker 1: course debt holders like. And only about thirty seconds left here,

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Speaker 1: Which do you think is the likeliest option for Elon

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Speaker 1: Musk to try to make Twitter more profitable if that

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Speaker 1: is his motivation? Well, in his support of Elon and

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Speaker 1: Jack Dorsey, the former CEO of his perceived its rain,

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Speaker 1: very close to him, said he didn't he'd always regretted

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Speaker 1: the fact that it was an advertising base model, so

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Speaker 1: that would seem suggests it's going to be something else

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Speaker 1: that might mean. Therefore, the subscriptions are the path that

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Speaker 1: he picks. Very interesting as always, Alex. Great to have

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Speaker 1: you on with us, Thanks for this. Alex Webb is

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Speaker 1: tech calumnist for Bloomberg Opinion. You can catch him on

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Speaker 1: Bloomberg Quick Take as well. He's a correspondent there, and

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Speaker 1: we will continue our team coverage of Elon Musk's Twitter

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Speaker 1: buy out as we await big tech earnings. Are five

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Speaker 1: things you need to know to start your day. Just

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Speaker 1: ahead here on Bloomberg Daybreak. That's as we watch earnings

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Speaker 1: from General Electric across the Bloomberg terminal. Profit beat estimates,

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Speaker 1: but the outlook has come in shy of analysts estimates.

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Speaker 1: Will be watching GE shares throughout the morning here on

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Speaker 1: Bloomberg Daybreak, Bloomberg eleven three oh weather, mostly cloudy, chance

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Speaker 1: for showers today with a hin your sixty five, upper fifties,

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Speaker 1: mostly sunny Tomorrow, mostly sunny, breezy, mid fifties by Thursday.

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Speaker 1: Right now fifty two degrees in Central Park. Broadcasting live

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Speaker 1: from the Bloomberg Interactive Broker Studio in New York. Bloomberg

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Speaker 1: e Living Freedom to Washington d c Bloomberg ninety one

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Speaker 1: to Boston, Bloomberg what A six one to San Francisco

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Speaker 1: Bloomberg Home sixty to the country, Sirius xm J A

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Speaker 1: one nine and around the globe the Bloomberg business at

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Speaker 1: and Bloomberg Radio dot com. This is Bloomberg Daybreak six

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

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Speaker 1: I'm Kard Moscow, and we're just about three hours away

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

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Speaker 1: things you need to notice start your day. Brought to

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Speaker 1: you by Interactive Brokers. Interacted Brokers charges margin loan rates

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Speaker 1: rates subject to change. Learn more at ib kr dot com.

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Speaker 1: Slash compare up First, Elon musk Is clinched a forty

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Speaker 1: four billion dollar deal to take Twitter private and San

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Speaker 1: Francisco Bloomberg's and Ludlow has more on what's next for shareholders.

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Speaker 1: Each investor will receive fifty four dollars and twenty cents

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Speaker 1: for each share that they hold. The deal has the

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Speaker 1: unanimous backing of Twitter's board, and the transaction is expected

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Speaker 1: to close by the end of this year. The deal

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Speaker 1: also includes a provision where Elon Mousque, according to sources,

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Speaker 1: would have to pay Twitter a fee if he was

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Speaker 1: to walk away from the deal, Bloomberg said. Ludlow says

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Speaker 1: Twitter cannot solicit other offers while the transaction is pending.

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Speaker 1: So where will Elon must get the cash to buy Twitter?

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Speaker 1: Bloomberg's Uneda Young joins us live in New York with

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Speaker 1: that good morning, Good morning, Nathan. It's the twenty one

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Speaker 1: billion dollar mystery. Now there's little doubt Elon Musk can

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Speaker 1: come up with the money. After all, the bloom Billionaire's

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Speaker 1: Index shows he's the world's richest person, with a fortune

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Speaker 1: of two hundred fifty seven billion dollars, But Bloomberg estimates

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Speaker 1: show Musk has just about three billion in cash and

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Speaker 1: somewhat liquid assets, so that leaves him with at least

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Speaker 1: three options for financing. One way, Musk could find other

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Speaker 1: investors who buy into his vision, and he's already hinted

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Speaker 1: at this possibility. Another, he could sell some of his

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Speaker 1: steak in Tesla, but that will likely put the stock

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Speaker 1: price at risk. And Third, since Musk is likely even

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Speaker 1: richer than calculated by the Bloomberg Billionaires Index, he might

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Speaker 1: not even need new sources of funding to cover the

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Speaker 1: twenty one billion dollars. Live in New York. I'm Rnita

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Speaker 1: Young Bloomberg daybreak. All right, Nita, thank you all overseas.

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Speaker 1: Russian for a Minister Sergei Lavrov suggested talks of the

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Speaker 1: U S could help and the war in Ukraine, but

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Speaker 1: weren't a serious risk of a nuclear conflict. Meanwhile, Secretary

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Speaker 1: of Defense Lloyd Austin pledge the US will continue support

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Speaker 1: in Ukraine. We have much more to do Ukraine. These

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Speaker 1: are helped to win today and they will still need

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Speaker 1: our help when the war is over. US Defense Secretary

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Speaker 1: Lloyd Austin, speaking today after visiting Kiev over the weekend.

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Speaker 1: Turning to the FED, Karen shape Powell, the Chairman, will

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Speaker 1: hold an in person press conference after next week's Today

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Speaker 1: Policy meeting. At Powell's last in person presser was on

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Speaker 1: March And it's another big day for earnings Alphabet and Microsoft,

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Speaker 1: or at least results after the bell. We just heard

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Speaker 1: from General Electric and first quarter profit beat analysts estimates.

430
00:23:24,600 --> 00:23:28,399
Speaker 1: Capital One and Visa also report today. Futures this morning

431
00:23:28,400 --> 00:23:30,159
Speaker 1: are lower. And that's the five things you need to

432
00:23:30,200 --> 00:23:33,240
Speaker 1: notice start your day. Brought to you by Interactive Brokers.

433
00:23:33,280 --> 00:23:40,000
Speaker 1: This is Bloomberg, all right, Karen, Thanks, six Wall Street,

434
00:23:40,000 --> 00:23:42,960
Speaker 1: fifty three degrees in Central Park, Forty five minute delays

435
00:23:42,960 --> 00:23:45,320
Speaker 1: on the upper level, g w B. I'll tell you why.

436
00:23:45,440 --> 00:23:47,480
Speaker 1: Coming up in traffic first, Michael Barr with more on

437
00:23:47,560 --> 00:23:49,280
Speaker 1: what's going on in New York and around the world.

438
00:23:49,280 --> 00:23:52,439
Speaker 1: Good morning, Michael, Good morning Nathan. Former President Donald Trump

439
00:23:52,480 --> 00:23:55,240
Speaker 1: was held in contempt of court today and order to

440
00:23:55,240 --> 00:23:57,560
Speaker 1: pay a fine of ten thousand dollars per day. A

441
00:23:57,600 --> 00:24:00,639
Speaker 1: New York judge made the ruling against Trump. We're failing

442
00:24:00,680 --> 00:24:04,280
Speaker 1: to adequately respond to a subpoena from New York's Attorney General.

443
00:24:04,600 --> 00:24:08,360
Speaker 1: Trump's attorneys said they will appeal this contempt holding, in

444
00:24:08,480 --> 00:24:12,560
Speaker 1: part because they say the subpoena documents simply don't exist.

445
00:24:13,000 --> 00:24:16,120
Speaker 1: A federal judge is now granted the temporary restraining order

446
00:24:16,119 --> 00:24:19,680
Speaker 1: preventing the Biden administration from lifting Title forty two. That's

447
00:24:19,720 --> 00:24:23,160
Speaker 1: the Trump era public Health order, which allowed border patrol

448
00:24:23,280 --> 00:24:26,720
Speaker 1: to return away illegal migrants to prevent the spread of

449
00:24:26,720 --> 00:24:31,400
Speaker 1: COVID nineteen. Bloomberg's political contributor genie's Ano. I think one

450
00:24:31,400 --> 00:24:34,399
Speaker 1: of the things that's gotten the Biden administration tripped up

451
00:24:34,440 --> 00:24:37,879
Speaker 1: here quite frankly, is they keep its saying this is

452
00:24:37,880 --> 00:24:41,280
Speaker 1: a matter of public health, not politics. It is a

453
00:24:41,320 --> 00:24:44,760
Speaker 1: matter of public health, but it's also politics. And what's

454
00:24:44,800 --> 00:24:48,119
Speaker 1: tripping them up is you can't divorce the two. Genie

455
00:24:48,200 --> 00:24:51,800
Speaker 1: Zeno spoke with Our Washington corresponded Joe Matthew on Bloomberg

456
00:24:51,920 --> 00:24:54,879
Speaker 1: Sound on Catch the program weekdays at five pm Eastern

457
00:24:55,240 --> 00:24:58,920
Speaker 1: on Bloomberg Radio. Judges on New York's Court of Appeals

458
00:24:58,960 --> 00:25:01,280
Speaker 1: are sent to here are mints in a lawsuit claiming

459
00:25:01,280 --> 00:25:06,040
Speaker 1: democrats illegally gerrymander the boundaries of the state's new congressional

460
00:25:06,080 --> 00:25:09,639
Speaker 1: districts to lower courts have already ruled that the district

461
00:25:09,680 --> 00:25:13,520
Speaker 1: maps were drafted specifically to give democrats an advantage. A

462
00:25:13,680 --> 00:25:17,119
Speaker 1: mid level appeals court last week gave the legislature a

463
00:25:17,119 --> 00:25:20,200
Speaker 1: deadline of people thirty to come up with revised maps.

464
00:25:20,520 --> 00:25:23,159
Speaker 1: Florida Governor around the Santis, has signed a bille setting

465
00:25:23,200 --> 00:25:26,720
Speaker 1: up an election police force. You compare us to some

466
00:25:26,760 --> 00:25:28,840
Speaker 1: of these other states, We did a better job, but

467
00:25:28,920 --> 00:25:31,080
Speaker 1: there's a lot that needs to be addressed, and so

468
00:25:31,160 --> 00:25:33,520
Speaker 1: we weren't going to just sit there and say, oh, yeah,

469
00:25:33,520 --> 00:25:35,679
Speaker 1: We've got everything figured out, because there was more to do.

470
00:25:35,880 --> 00:25:38,560
Speaker 1: In the state of Florida, Democrats in the state are

471
00:25:38,600 --> 00:25:42,919
Speaker 1: accusing Republicans of creating public distrust in the integrity of elections.

472
00:25:43,400 --> 00:25:46,199
Speaker 1: The Taxas Court of Criminal Appeals issued a stay of

473
00:25:46,240 --> 00:25:49,440
Speaker 1: execution for Melissa Luccio. The fifty two year old mother

474
00:25:49,480 --> 00:25:51,760
Speaker 1: of fourteen was convicted in the death of a two

475
00:25:51,800 --> 00:25:55,600
Speaker 1: year old child. However, defense lawyers and supporters say there's

476
00:25:55,640 --> 00:25:59,000
Speaker 1: new evidence that supports the theory that the child fractured

477
00:25:59,040 --> 00:26:03,360
Speaker 1: its skull accident folding down steep stairs. List Luccio's son

478
00:26:03,440 --> 00:26:05,879
Speaker 1: talked to his mother on the phone, holding it to

479
00:26:05,920 --> 00:26:08,200
Speaker 1: the microphone. I just want to say thank you to

480
00:26:08,320 --> 00:26:15,040
Speaker 1: everybody who had supported me. Supporters say Luccio's confession was

481
00:26:15,080 --> 00:26:17,920
Speaker 1: coerst Global News twenty four hours a day on air

482
00:26:18,040 --> 00:26:21,240
Speaker 1: and on Bloomberg Quick Take, powered by more than journalists

483
00:26:21,280 --> 00:26:24,000
Speaker 1: analysts more than a hundred twenty countries. Michael bar this

484
00:26:24,080 --> 00:26:31,480
Speaker 1: is Bloomberg Naked. Thank you. Michael's just about six thirty

485
00:26:31,480 --> 00:26:33,920
Speaker 1: six on Wall Street. John stash Hour has the Bloomberg

486
00:26:33,960 --> 00:26:37,160
Speaker 1: Sports upthing. Thanks Nathan. The Nets began the season as

487
00:26:37,240 --> 00:26:40,600
Speaker 1: championship contenders they had three superstars, but James Harden got traded,

488
00:26:40,680 --> 00:26:43,920
Speaker 1: Kevin Durant got hurt, the unvaccinated Kyrie irving for most

489
00:26:43,960 --> 00:26:46,280
Speaker 1: of the season either didn't play at all or then

490
00:26:46,440 --> 00:26:49,000
Speaker 1: just on the road. They got Ben Simmons for Harden,

491
00:26:49,040 --> 00:26:51,800
Speaker 1: but he never played at all. So a bizarre Net

492
00:26:51,800 --> 00:26:54,200
Speaker 1: season and it ended in Brooklyn a one six twelve

493
00:26:54,280 --> 00:26:57,359
Speaker 1: win by the Celtics, who finished off a surprising first

494
00:26:57,440 --> 00:27:00,000
Speaker 1: round sweep. They won all four games by single digits

495
00:27:00,000 --> 00:27:03,640
Speaker 1: as Tatum outplayed Durant. Although Kade didn't come alive last

496
00:27:03,720 --> 00:27:06,920
Speaker 1: night with thirty nine points, seven rebounds, nine assists didn't

497
00:27:06,960 --> 00:27:09,680
Speaker 1: help the Nets that Nick Claxton was one per eleven

498
00:27:10,040 --> 00:27:12,199
Speaker 1: from the three throw line, fourth for twenty two in

499
00:27:12,200 --> 00:27:15,080
Speaker 1: the series. Was it Kyrie's last game as a net

500
00:27:15,160 --> 00:27:17,679
Speaker 1: sounds like it wasn't. I'm just used using that as

501
00:27:17,720 --> 00:27:20,520
Speaker 1: fuel for the summer and come into the season starting

502
00:27:20,560 --> 00:27:23,560
Speaker 1: from October um and and just getting a good start

503
00:27:23,560 --> 00:27:26,359
Speaker 1: as a team and hopefully we won't run into any

504
00:27:26,359 --> 00:27:29,640
Speaker 1: barriers um and we could just start fresh. I mean,

505
00:27:29,640 --> 00:27:32,520
Speaker 1: he's expected to decline a thirty seven million dollar option

506
00:27:32,560 --> 00:27:34,440
Speaker 1: become a free agent. He says he wants to be back,

507
00:27:34,480 --> 00:27:36,520
Speaker 1: but two years ago he said he wanted to stay

508
00:27:36,520 --> 00:27:39,160
Speaker 1: in Boston. He left Celtics. The only team so far

509
00:27:39,200 --> 00:27:42,160
Speaker 1: to advanced Philadelphia was up three nothing, that's now three

510
00:27:42,200 --> 00:27:44,960
Speaker 1: two is Toronto one in Philly? Dallas an easy win,

511
00:27:45,359 --> 00:27:47,399
Speaker 1: aw up three two on Utah. Want to win for

512
00:27:47,440 --> 00:27:49,400
Speaker 1: the Mets. A pitcher's duel in St. Louis as Max

513
00:27:49,400 --> 00:27:52,760
Speaker 1: Scherzer was terrific. Cardinals score twice, Fott of the eighth

514
00:27:52,800 --> 00:27:54,840
Speaker 1: and the Mets scored five. And then I had cap,

515
00:27:54,920 --> 00:27:57,280
Speaker 1: I have Brandon Nimbo to run omer and the Nets

516
00:27:57,280 --> 00:27:59,520
Speaker 1: beat the Cards five to two. Yankees home tonight for

517
00:27:59,560 --> 00:28:02,680
Speaker 1: Baltimore and the Rangers home tonight for a big game

518
00:28:02,680 --> 00:28:07,040
Speaker 1: of first place Carolina. John Sparre Show, Bloomberg Sports, Navid Okay, John,

519
00:28:07,080 --> 00:28:09,040
Speaker 1: Thanks six thirty seven on Wall Street. Time to take

520
00:28:09,040 --> 00:28:10,560
Speaker 1: a look at stock, some of the names moving in

521
00:28:10,600 --> 00:28:13,520
Speaker 1: the pre market. Bloomberg Radio and TV Markets correspondent Creedy

522
00:28:13,560 --> 00:28:17,040
Speaker 1: Gupta is with us this morning. Not much to talk about,

523
00:28:17,200 --> 00:28:23,840
Speaker 1: Creedy um debatable, tomatable, lot going on with Twitter, that

524
00:28:23,960 --> 00:28:26,960
Speaker 1: sarcasm naming and I'm sorry the copy hasn't the copy hasn't.

525
00:28:27,200 --> 00:28:29,240
Speaker 1: We'll let that kick in for you. Yeah, let's talk Twitter,

526
00:28:29,240 --> 00:28:31,359
Speaker 1: shall we? Twitter? T w t R is your ticker

527
00:28:31,440 --> 00:28:33,520
Speaker 1: up seven tenths of a percent. Now, remember a lot

528
00:28:33,560 --> 00:28:35,840
Speaker 1: of this news came in yesterday's trading session, so there

529
00:28:35,840 --> 00:28:39,520
Speaker 1: isn't necessarily a postmarket surprise that it's going to kind

530
00:28:39,560 --> 00:28:42,440
Speaker 1: of digest in the shares. Nevertheless, for those who aren't

531
00:28:42,480 --> 00:28:46,160
Speaker 1: keeping up with Twitter, Tesla or excuse me, Tesla CEO

532
00:28:46,240 --> 00:28:48,880
Speaker 1: Elon Musk has officially landed the deal to take Twitter

533
00:28:48,920 --> 00:28:52,720
Speaker 1: private for forty four billion dollars um. It looks like

534
00:28:52,760 --> 00:28:54,240
Speaker 1: he does have to put up a little bit of

535
00:28:54,280 --> 00:28:57,000
Speaker 1: his own financing twenty one billion dollars, I believe, so

536
00:28:57,080 --> 00:28:58,840
Speaker 1: a lot of the focus today is going to be

537
00:28:58,880 --> 00:29:01,520
Speaker 1: how he's actually gonna make that twenty one billion happened,

538
00:29:01,800 --> 00:29:04,200
Speaker 1: given the rest of the money has been coming from

539
00:29:04,360 --> 00:29:07,800
Speaker 1: Barkley's Make for America and u f G, among several

540
00:29:07,840 --> 00:29:10,480
Speaker 1: other banks as well. I think the real kind of

541
00:29:10,520 --> 00:29:12,360
Speaker 1: analysis you want to keep an eye on here is

542
00:29:12,440 --> 00:29:14,600
Speaker 1: what other stocks in the market are going to be

543
00:29:14,680 --> 00:29:17,600
Speaker 1: moving off of this news. So, for example, Tesla is

544
00:29:17,600 --> 00:29:19,200
Speaker 1: going to be a big one. T s l A

545
00:29:19,440 --> 00:29:22,600
Speaker 1: is your ticker, and this is important because the idea

546
00:29:22,720 --> 00:29:25,360
Speaker 1: was that does Elon Musk have to leverage his Tesla

547
00:29:25,400 --> 00:29:28,800
Speaker 1: position to then finance his Twitter bid uh And right

548
00:29:28,800 --> 00:29:31,320
Speaker 1: now Tesla is actually up in the pre market, up

549
00:29:31,440 --> 00:29:33,640
Speaker 1: zero point two percent t s l A once again,

550
00:29:33,880 --> 00:29:37,040
Speaker 1: but that can very easily change the negative correlation, which

551
00:29:37,080 --> 00:29:39,720
Speaker 1: basically means like the dynamic between the two in the

552
00:29:39,760 --> 00:29:42,120
Speaker 1: last couple of weeks has been that when Tesla or

553
00:29:42,120 --> 00:29:44,520
Speaker 1: when Twitter is up on this kind of Elon Musk news,

554
00:29:44,560 --> 00:29:46,880
Speaker 1: Tesla has actually been down in responds to the idea

555
00:29:46,960 --> 00:29:49,160
Speaker 1: that he's going to have to leverage his Tessela shares

556
00:29:49,200 --> 00:29:51,320
Speaker 1: to buy Twitter. So once again that's gonna be a

557
00:29:51,400 --> 00:29:53,200
Speaker 1: big part of the conversation today. Keep an eye on

558
00:29:53,280 --> 00:29:55,200
Speaker 1: both of them because they're both tech and they can

559
00:29:55,200 --> 00:29:57,240
Speaker 1: both move the market. D w a C, which is

560
00:29:57,240 --> 00:30:00,560
Speaker 1: the Digital World Acquisition Corps essentially this back that's taking

561
00:30:00,840 --> 00:30:04,800
Speaker 1: President Trump's media company Public up five point three percent

562
00:30:04,880 --> 00:30:07,560
Speaker 1: after he told Fox News, I'm not moving back to

563
00:30:07,560 --> 00:30:10,040
Speaker 1: Twitter even if they unsuspended my account, So good news

564
00:30:10,080 --> 00:30:12,960
Speaker 1: there for his social media company. Also, keep an eye

565
00:30:12,960 --> 00:30:15,960
Speaker 1: on Snapchat s n A p is your taker down

566
00:30:16,000 --> 00:30:17,920
Speaker 1: one point two percent to a more story for pent

567
00:30:18,200 --> 00:30:20,239
Speaker 1: s p I n s is your Taker down eight

568
00:30:20,280 --> 00:30:22,680
Speaker 1: tens of a percent. That's a monetization story. Think about

569
00:30:22,720 --> 00:30:26,560
Speaker 1: your social media competitors for Twitter, Snapchat and Pinterest not

570
00:30:26,720 --> 00:30:29,000
Speaker 1: doing so well this morning. All right, just quickly, let's

571
00:30:29,000 --> 00:30:30,480
Speaker 1: look at some of the names that are moving on

572
00:30:30,600 --> 00:30:33,440
Speaker 1: earnings this morning. Yeah, two big ones. PepsiCo is the one.

573
00:30:33,520 --> 00:30:35,640
Speaker 1: P EPs your Taker up two tenths of a percent.

574
00:30:35,760 --> 00:30:37,640
Speaker 1: We're waiting for the earnings calls. We're gonna get a

575
00:30:37,640 --> 00:30:39,600
Speaker 1: little bit more information there, but right now they raise

576
00:30:39,640 --> 00:30:42,520
Speaker 1: their sales growth, basically saying consumers are returning to bars

577
00:30:42,560 --> 00:30:44,800
Speaker 1: thanks to the easing of pandemic restrictions. The other one

578
00:30:44,840 --> 00:30:46,680
Speaker 1: you want to keep an eye on is g E.

579
00:30:46,960 --> 00:30:48,600
Speaker 1: G is also the name of the company, and the

580
00:30:48,640 --> 00:30:51,880
Speaker 1: ticker down just shrive three percent. This comes after they're

581
00:30:51,920 --> 00:30:54,640
Speaker 1: seeing challenges and inflation, the rush of Ukraine War, renewable

582
00:30:54,720 --> 00:30:58,600
Speaker 1: energy supply chain constraints, and launching three independent investment grade

583
00:30:58,680 --> 00:31:02,440
Speaker 1: companies invest There's not like very important earning story there

584
00:31:02,440 --> 00:31:04,920
Speaker 1: from g R Right Bloomberg Radio on TV markets correspondent

585
00:31:04,960 --> 00:31:07,240
Speaker 1: Creedy Goopa always something to talk about in a pre

586
00:31:07,440 --> 00:31:10,480
Speaker 1: market looking ahead to the market open. SMP futures down

587
00:31:10,600 --> 00:31:13,360
Speaker 1: fourteen points down, futures down a twenty two and NASTAC

588
00:31:13,440 --> 00:31:18,120
Speaker 1: futures lower by fifty points. You're listening to Bloomberg Daybreak

589
00:31:22,280 --> 00:31:24,239
Speaker 1: Bloomberg eleven three oh weather, most of the cloudy, chance

590
00:31:24,320 --> 00:31:26,440
Speaker 1: for showers today, mid sixties for highs. We'll get into

591
00:31:26,440 --> 00:31:28,880
Speaker 1: the upper fifties, mostly sunny tomorrow and it will be

592
00:31:28,960 --> 00:31:31,160
Speaker 1: mostly sunny, breezy with a high in your fifty five

593
00:31:31,360 --> 00:31:37,600
Speaker 1: on Thursday. Right now fifty three degrees in Central Park. Markets.

594
00:31:37,720 --> 00:31:40,760
Speaker 1: Headlines and breaking news twenty four hours a day at

595
00:31:40,800 --> 00:31:44,720
Speaker 1: Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quicktake,

596
00:31:44,960 --> 00:31:54,120
Speaker 1: This is a Bloomberg business lash and I'm Karen Moscow.

597
00:31:54,320 --> 00:31:57,200
Speaker 1: Futures are lower, earnings are crossing the Bloomberg. We go

598
00:31:57,280 --> 00:31:59,200
Speaker 1: to the first word breaking news dash for the for

599
00:31:59,320 --> 00:32:02,080
Speaker 1: today's morning call, and here's Bill Maloney. Bill, good morning,

600
00:32:02,840 --> 00:32:05,400
Speaker 1: and good morning, Karen. US futures are in the red

601
00:32:05,520 --> 00:32:08,120
Speaker 1: right now ATWN futures down a hundred points, SPS dropped

602
00:32:08,120 --> 00:32:11,480
Speaker 1: thirteen well Nasdick futures are off by forty two. The

603
00:32:11,640 --> 00:32:14,120
Speaker 1: US ten year old at two point seven eight percent,

604
00:32:14,240 --> 00:32:17,120
Speaker 1: Gold is up six, oil is down and bitcoin is

605
00:32:17,160 --> 00:32:20,680
Speaker 1: higher by point six percent. Shanghai dropped one point one

606
00:32:20,760 --> 00:32:23,600
Speaker 1: point four percent overnight, while up markets are in the green,

607
00:32:23,920 --> 00:32:26,880
Speaker 1: led by one percent gains in France and Germany. Back

608
00:32:26,920 --> 00:32:29,280
Speaker 1: in the US on the economic Fronday thirty durable goods

609
00:32:29,400 --> 00:32:32,959
Speaker 1: orders and at ten o'clock new home sales and consumer confidence.

610
00:32:33,320 --> 00:32:36,520
Speaker 1: After the bellas night, Whirlpool cut its forecast and regarding

611
00:32:36,640 --> 00:32:39,120
Speaker 1: some of the earnings this morning, GE said full year

612
00:32:39,280 --> 00:32:41,200
Speaker 1: just the EPs will be at the low end of

613
00:32:41,240 --> 00:32:44,920
Speaker 1: the range. Three M sales miss destimates. Ups B and

614
00:32:45,040 --> 00:32:48,280
Speaker 1: PEPSI raised its sales outlook, rapping things up Bike your

615
00:32:48,360 --> 00:32:51,880
Speaker 1: hues raised to vibe over at hs b C Live

616
00:32:52,000 --> 00:32:55,080
Speaker 1: from the first breaking news descom Bill Maloney, Karen right,

617
00:32:55,080 --> 00:32:57,040
Speaker 1: Bill Maloney, thank you, and here live breaking news over

618
00:32:57,040 --> 00:33:00,040
Speaker 1: your Bloombergy Times Squawk on your terminal squ a a

619
00:33:00,160 --> 00:33:02,560
Speaker 1: UK and just looking at some of those stocks moving

620
00:33:02,600 --> 00:33:05,040
Speaker 1: in the early trade with General Electric down three point

621
00:33:05,080 --> 00:33:08,320
Speaker 1: two percent right now ups is up three and a

622
00:33:08,480 --> 00:33:12,479
Speaker 1: third percent, and that's a Bloomberg business flash. And now

623
00:33:12,600 --> 00:33:14,400
Speaker 1: we see what's going on around the world. And here's

624
00:33:14,480 --> 00:33:18,520
Speaker 1: Michael Barr, Michael Karen, thank you very much. Antonio Guta's

625
00:33:18,600 --> 00:33:21,600
Speaker 1: head of the United Nations is in Moscow to try

626
00:33:21,800 --> 00:33:25,080
Speaker 1: to discuss a possible ceasefire with the Russian President of

627
00:33:25,120 --> 00:33:29,320
Speaker 1: Vladimir Putin. Meanwhile, Ukraine says five train stations were hit

628
00:33:29,440 --> 00:33:32,400
Speaker 1: by Russian air strikes in the space of an hour. Yesterday,

629
00:33:32,840 --> 00:33:35,040
Speaker 1: Following a three days search, the body of a missing

630
00:33:35,120 --> 00:33:38,920
Speaker 1: Texas Army National Guard soldier from Arlington was found in

631
00:33:38,960 --> 00:33:41,880
Speaker 1: the Rio Grand River near Eagle Pass. That's where it's

632
00:33:41,880 --> 00:33:45,000
Speaker 1: twenty two year old specialist Bishop Evans was last seen

633
00:33:45,080 --> 00:33:47,520
Speaker 1: trying to help two migrants who appeared to be drowning.

634
00:33:48,040 --> 00:33:51,560
Speaker 1: In the NBA playoffs, the Celtics eliminated the Nets. Boston

635
00:33:51,640 --> 00:33:54,640
Speaker 1: beat Brooklyn one sixteen, one twelve to sweep the series

636
00:33:54,680 --> 00:33:57,760
Speaker 1: in four games. In MLB, the Mats and Giants won

637
00:33:57,840 --> 00:34:00,800
Speaker 1: the Red Sox lost. Global News twenty four hours a

638
00:34:00,920 --> 00:34:03,840
Speaker 1: day on air and on Bloomberg Quick Take, powered by

639
00:34:03,920 --> 00:34:07,040
Speaker 1: more of that hundred journalists and analysts more than a hundred,

640
00:34:07,080 --> 00:34:10,760
Speaker 1: twenty countries. Michael barn this is Bloomberg, Karen Ry, Michael,

641
00:34:10,800 --> 00:34:13,160
Speaker 1: thank you. Sixty nine. On Wall Street, we turned to

642
00:34:13,239 --> 00:34:15,800
Speaker 1: news and science and technology Now with a Bloomberg and

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Speaker 1: j I T. Stammerport brought to you Buy New Jersey

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Speaker 1: fintech and now Here's what's making news and science, Technology, engineering,

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Speaker 1: and math. Beijing has begun mass coronavirus testing of millions

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00:34:36,840 --> 00:34:39,800
Speaker 1: of its residents. It's part of an unprecedented scheme to

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00:34:39,920 --> 00:34:43,279
Speaker 1: squash omicrons spread before its spirals out of control. In

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Speaker 1: the Chinese capital, nearly twenty million people undergo three grounds

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00:34:47,040 --> 00:34:50,960
Speaker 1: of COVID testing through the weekend. Democratic Senator Joe Mansion

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00:34:51,080 --> 00:34:54,360
Speaker 1: is exploring an energy and climate packaging at Winning Republican

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00:34:54,440 --> 00:34:59,280
Speaker 1: support by partisan energy package could undercut the broader democratic agenda,

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00:34:59,520 --> 00:35:01,960
Speaker 1: but it could give President Biden an election year win

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Speaker 1: on an issue voters care about. Mansion says. One area

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Speaker 1: of common ground could be reform of the federal oil

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Speaker 1: and gas leasing process and an investor led push for

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Speaker 1: major oil companies to set climate goals in line with

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Speaker 1: the Paris Agreement. One support from a key proxy advisor

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Speaker 1: for the first time institutional shareholder Services urged investors and

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Speaker 1: Occidental Petroleum and refiner Valero Energy to back proposals to

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Speaker 1: align the company's targets for cutting greenhouse gas emissions, including

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Speaker 1: those of their customers, with the Paris Accord and as

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Speaker 1: according to investor reports seen by Bloomberg. And that's a

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Speaker 1: Bloomberg n j I t Stem report. Nathan Okay, Karen,

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Speaker 1: thanks rely from the Bloomberg Interactive Brokers studios where it's

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Speaker 1: almost six fifty one on Wall Street time. Now to

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Speaker 1: check with Square in d C. Some of the top

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Speaker 1: stories in our nation's capital include Senator Elizabeth Warren calling

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Speaker 1: Elon Musk's Twitter buy out dangerous, Defense Secretary Lloyd Austin

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00:35:52,719 --> 00:35:56,800
Speaker 1: hosting talks on boosting Ukraine's military, and President Biden issuing

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Speaker 1: his first round of pardons as part of a new

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Speaker 1: criminal justice this initiative. Let's bring back Joe Matthew now

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Speaker 1: Bloomberg Washington correspondent, host of Sound on Here on Bloomberg Radio. Obviously,

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Speaker 1: the Elon Musk Twitter story is not going away, certainly

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Speaker 1: not this morning, and it's making the rounds on Capitol Hill. Now, Joe, Yeah,

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Speaker 1: that's for sure. We heard from a number of lawmakers

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Speaker 1: on this. You know, you get a big story like this.

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Speaker 1: Nathan and it gets people talking. It was in the

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Speaker 1: air on Capitol Hill, it was in the air at

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Speaker 1: the White House. That came up in the White House briefing,

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Speaker 1: Senator Elizabeth Warren had probably the strongest words, which might

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Speaker 1: not come as a surprise. Not a big fan of

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Speaker 1: Elon Musk buying Twitter, in fact, says that the deal here,

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Speaker 1: assuming that it closes, and that that's a big assumption

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Speaker 1: at the moment, demonstrates the need for serious regulation for

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Speaker 1: big tech. Those are her words. She says, it's dangerous

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Speaker 1: for one billionaire to decide how millions of people will

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Speaker 1: communicate with each other. And it sounds a lot like

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Speaker 1: what we heard from the White House yesterday, not quite

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Speaker 1: as full throated. But Jen Saki was asked about this

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Speaker 1: the White House Press Secretary and is clearly prepared for

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Speaker 1: the question, saying that the President has long argued that

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Speaker 1: tech platforms must be held accountable for the harms they cause,

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Speaker 1: not actually quantifying them, but the harms they cause, and

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Speaker 1: has been a strong supporter of reforms, she said, including

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Speaker 1: reforming Section to thirty. That's gonna be an interesting prospect

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Speaker 1: here for Republicans who have been calling for reforms to

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Speaker 1: Section to thirty because they believe that conservative voices are

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Speaker 1: are censored for lack of a better word, on sites

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00:37:29,520 --> 00:37:31,920
Speaker 1: like Twitter. Now that Democrats are talking about this, you

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Speaker 1: wonder what form that could take. Yeah, And interestingly, when

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Speaker 1: you think about section to thirty and potential reforms, anyone

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Speaker 1: must talking about making Twitter more of a free speech platform.

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Speaker 1: There's been a lot of discussion about whether former President

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Speaker 1: Donald Trump could be allowed back on Twitter. Has there

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Speaker 1: been any talk on Capitol Hill about that? Joe, Well,

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Speaker 1: you know, it's it's interesting. I was actually asking a

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Speaker 1: few folks about this yesterday. And this follows a comment

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Speaker 1: from Trump himself on Fox saying that he would not

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Speaker 1: be coming back to Twitter. You know, he's got his

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Speaker 1: own platform now called truth Social. Uh. But then again,

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Speaker 1: he's what do you say true? Do you truth? Untruth social?

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Speaker 1: You don't tweet undrew he posted once? Is what I'm

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Speaker 1: trying to say, as opposed to the twenty times a

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Speaker 1: day that he used to be on Twitter. Anyone that

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Speaker 1: I have asked any Republican is hopeful. In fact, well

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Speaker 1: the number one doesn't believe it thinks that he will

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Speaker 1: actually return to Twitter because he can't resist eighty million

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Speaker 1: users but many of them are hoping that he does not.

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Speaker 1: That is where Donald Trump found a lot of trouble

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Speaker 1: for himself, of course, leading to his final ban from

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Speaker 1: Twitter not that long ago, which potentially Joe raises the

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Speaker 1: calculations for the mid terms. What potentially could a return

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Speaker 1: of former President Trump to Twitter mean for Republicans in

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Speaker 1: the mid terms. Well, it's a way for him to

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Speaker 1: deliver the message on endorsements. It's a way for him

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00:38:58,080 --> 00:39:01,040
Speaker 1: to knock his opponents. It's all so as I mentioned away,

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Speaker 1: for him to step in a pile. Uh. Look, there's

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Speaker 1: still no edit button that I know. They're talking about

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Speaker 1: that at Twitter. Uh, and I'm not sure the president

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Speaker 1: would use But anyway, I mean the late night tweets.

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Speaker 1: You have to go back in time. It's it's hard

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00:39:13,080 --> 00:39:15,239
Speaker 1: to even remember what that was like to be waking

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Speaker 1: up every morning and running to Twitter to figure out

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00:39:17,840 --> 00:39:20,359
Speaker 1: what the future policy of the administration would be. People

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Speaker 1: were fired on Twitter without hearing about it first and

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Speaker 1: higher for that matter, without hearing about it. The way

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Speaker 1: it would impact the midterm elections. I think we've seen

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Speaker 1: this movie before, and of course the president is that

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Speaker 1: the former president has endorsed a number of candidates in

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Speaker 1: races around the country. I suspect that he'd be on

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00:39:37,200 --> 00:39:40,279
Speaker 1: that Twitter fairly often if you were allowed back. All right,

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Speaker 1: and the time we have left, Joe, let's talk a

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Speaker 1: little bit about the latest on what's happening in Ukraine.

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Speaker 1: We have Defense Stary Lloyd Austin in Germany leading this

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Speaker 1: major discussion about getting more military aid to Ukraine. It's

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Speaker 1: an important discussion. We've got military leaders for more than

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Speaker 1: forty countries, that's NATO and beyond all meeting at Ramstein

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00:39:59,600 --> 00:40:02,640
Speaker 1: Air Base in Germany. This is being hosted by the

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00:40:02,760 --> 00:40:05,120
Speaker 1: Secretary of Defense. The Chairman of the Joint Chiefs will

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00:40:05,160 --> 00:40:07,719
Speaker 1: be there, and this is to get real answers to

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00:40:07,800 --> 00:40:09,640
Speaker 1: not just how much money you need, but what do

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00:40:09,719 --> 00:40:11,800
Speaker 1: we need to spend it on? What actual tools do

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00:40:11,880 --> 00:40:14,120
Speaker 1: we need to send you in This follows the most

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00:40:14,160 --> 00:40:17,080
Speaker 1: recent shipment of heavy artillery and preparation for the Battle

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00:40:17,520 --> 00:40:20,320
Speaker 1: of the Dune Boss. And while that conversation is happening,

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00:40:20,360 --> 00:40:23,640
Speaker 1: the UN Secretary General is in Moscow to meet with

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00:40:23,719 --> 00:40:26,760
Speaker 1: Vladimir Putin, which Ukraine is not terribly fond of. Ukraine's

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00:40:26,760 --> 00:40:28,319
Speaker 1: defenseman is to wrote an op ed on the Wall

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Speaker 1: Street Journal accusing the U N of being an enabler

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00:40:31,800 --> 00:40:34,480
Speaker 1: of Russian war crimes. Now, gu terrorist will move on

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00:40:34,719 --> 00:40:39,000
Speaker 1: to meet with President Zelenski on Thursday in Kiev and

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00:40:39,080 --> 00:40:42,799
Speaker 1: should be a fascinating conversation as we hear again from

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Speaker 1: Russia's foreign minister, in this case Sergei Lavrov, you know,

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00:40:46,800 --> 00:40:50,120
Speaker 1: rolling out the possibility of of nuclear weapons being used,

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00:40:50,200 --> 00:40:53,080
Speaker 1: which says a lot about Russia's position and posture right

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Speaker 1: now in Ukraine. Yeah, once again that rhetoric coming back.

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Speaker 1: And just to turn things back to domestic politics because

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00:40:58,680 --> 00:41:03,000
Speaker 1: just this hour, Joe President Biden announced a pretty significant

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00:41:03,120 --> 00:41:06,080
Speaker 1: round of partings and commutations. This is the first time

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00:41:06,160 --> 00:41:08,840
Speaker 1: he's done this, Yeah, his first. A lot of folks

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00:41:08,920 --> 00:41:11,160
Speaker 1: expected some in his first year. We didn't get any

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00:41:11,239 --> 00:41:16,160
Speaker 1: offering clemency today to seventies seven non violent drug offenders,

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00:41:16,200 --> 00:41:19,279
Speaker 1: along with a former Secret Service agent who we've been

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00:41:19,320 --> 00:41:22,560
Speaker 1: reporting on Bloomberg. You can read about him on the Terminal,

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00:41:22,600 --> 00:41:26,440
Speaker 1: who claims he was singled out for prosecution after exposing

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00:41:26,600 --> 00:41:30,000
Speaker 1: racism in the agency. He was in fact convicted of

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00:41:30,120 --> 00:41:33,840
Speaker 1: selling a copy of an internal document. Abraham Bolden eighties

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00:41:33,880 --> 00:41:37,120
Speaker 1: six years old, the first African American to serve on

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00:41:37,239 --> 00:41:40,520
Speaker 1: a presidential detail. He has maintained his innocence all these years.

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00:41:40,600 --> 00:41:44,120
Speaker 1: Nathan all Right, Bloomberg Washington correspondent Joe Matthew with us

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Speaker 1: this morning, catch much more this afternoon Bloomberg Sound on

785
00:41:48,280 --> 00:41:51,440
Speaker 1: every weekday afternoon at five pm Wall Street time here

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00:41:51,480 --> 00:41:55,760
Speaker 1: on Bloomberg Radio. Pretty significant guest for Joe this evening,

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00:41:56,040 --> 00:41:59,319
Speaker 1: be speaking with Republican Congressman darryl Isa, So you want

788
00:41:59,360 --> 00:42:02,279
Speaker 1: to check in for that conversation later today, and you

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00:42:02,360 --> 00:42:04,000
Speaker 1: can read much more about all these stories we've been

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00:42:04,000 --> 00:42:06,560
Speaker 1: talking about on Bloomberg dot com or on the Bloomberg Terminal.

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00:42:06,880 --> 00:42:10,600
Speaker 1: Listen to Bloomberg Radio in Washington, Bloomberg and one oh

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00:42:10,719 --> 00:42:14,160
Speaker 1: five point seven f M h D two. Right now,

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Speaker 1: SMP futures are down thirteen points down, futures down a

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00:42:18,239 --> 00:42:21,719
Speaker 1: hundred six, Nasdaq futures down uh forty eight points. The

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Speaker 1: tenure Treasury is up eight thirty seconds, the yield two

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Speaker 1: point seven eight percent, yield on the two year two

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Speaker 1: point five nine percent, and i'm x screwed up three

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Speaker 1: tenths percent at a barrel. This red headline just crossing

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Speaker 1: the Bloomberg terminal Raytheon is cutting its sales outlook for

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Speaker 1: the fiscal year on Russia, global sanctions. Much more to

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Speaker 1: come on Bloomberg surveillance. That's next for Karen Moscow. I'm

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Speaker 1: Nathan Hager. This is Bloomberg