Speaker 1: Live from the Bloomberg Interactive Burgers Studios. This is Bloomberg
Speaker 1: Daybreak for Tuesday, April two. Coming up this hour, Elon
Speaker 1: Musk pulls off one of the biggest leveraged buyouts in history.
Speaker 1: We have team coverage of his Twitter takeover, Microsoft and
Speaker 1: Apple leave the earnings parade today, and Russia's foreign minister
Speaker 1: warns the risk of nuclear war can't be underestimated. Resident
Speaker 1: Trump's legal troubles continue with New York's a G plus.
Speaker 1: The southern border remains closed for migrants after a judge
Speaker 1: kept titled forty two in place. On Michael barn More Ahead,
Speaker 1: I'm John stand Sports. The next season is over, swept
Speaker 1: by the Celtics and ninthin rally for the Mets to
Speaker 1: win in St. Louis. That's all s traded ahead on
Speaker 1: Bloomberg Daybreak on Bloomberg eleven three, on New York, Bloomberg
Speaker 1: nineteen 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 and US DOT Index futures are
Speaker 1: lower this morning. We are coming up to six o
Speaker 1: one on Wall Street, and we checked the markets every
Speaker 1: fifteen minutes throughout the trading day. On Bloomberg, SNP Future
Speaker 1: is down ten points this morning. Down Future is down
Speaker 1: eighty eight. NAST day futures down thirty three ten. Your
Speaker 1: Treasury up eight thirty seconds, held two points seven eight
Speaker 1: percent in the yield and the two year two point
Speaker 1: five nine percent, and I'm ex screwed Oil is down
Speaker 1: three quarters of a percent, Nathan Karen. We begin this
Speaker 1: morning with one of the biggest leveraged buyouts in history.
Speaker 1: Elon Musk has clinched a forty four billion dollar deal
Speaker 1: to take Twitter private. Investors will receive fifty four dollars
Speaker 1: and twenty cents for each Twitter share they own. We
Speaker 1: have team coverage for you this morning, starting with Ed
Speaker 1: Ludlow in our Bloomberg nine sixty newsroom in San Francisco.
Speaker 1: Ed has more on four changes Musk may make to
Speaker 1: the platform going forward. It's four main things and edit
Speaker 1: button that is time sensitive. He's talks about that removing
Speaker 1: bots from the platform. He's talks about that open sourcing
Speaker 1: the algorithm and looking at the lying technology for Twitter,
Speaker 1: and then finally he's going to look at the issues
Speaker 1: of vans. Elon Musk basically framed it as being he
Speaker 1: was more in favor of time outs than all out
Speaker 1: bands on the platform, Bloomberg said. Ludlow says the deal
Speaker 1: was approved unanimously by Twitter's board. It's expected to be
Speaker 1: completed later this year. So where will Elon Musk get
Speaker 1: the cash to buy Twitter? Bloomberg's Renida Young continues our
Speaker 1: team courbadge and joins us live in New York with
Speaker 1: that part of the story. Good Morning Ray to Good
Speaker 1: morning Karen. It's the twenty one billion dollar mystery. Now
Speaker 1: there's little doubt Elon Musk can come up with the money.
Speaker 1: After all, the Bloomberg Billionaires Index shows he's the world's
Speaker 1: richest person with a fortune of two hundred fifty seven
Speaker 1: billion dollars. But Bloomberg estimates show Musk has just about
Speaker 1: three billion in cash and somewhat liquid assets, So that
Speaker 1: leaves him with at least three options for financing. One
Speaker 1: way find other investors who buy into his vision, and
Speaker 1: he's already hinted at this past ability. Another, he could
Speaker 1: sell some of his steak in Tesla, but that will
Speaker 1: likely put the stock price at risk. And Thirdly, since
Speaker 1: Musk is likely even richer than calculated by the Bloomberg
Speaker 1: Billionaires Index, he might not even need new sources of
Speaker 1: funding to cover the twenty one billion dollars. Live in
Speaker 1: New York. I'm gonna need a Young Bloomberg daybreak. We
Speaker 1: need a thanks now. Some lawmakers are pushing back against
Speaker 1: the buyout. Senator Elizabeth Warren is calling Musk's Twitter deal
Speaker 1: dangerous At Baxter continues our team coverage from our Bloomberg
Speaker 1: nine sixty news room in San Francisco. Musk and Warren
Speaker 1: are familiar foes. They've had battles over a number of issues,
Speaker 1: but Warren's verbiage here is very strong. She says the
Speaker 1: deal is dangerous for our democracy. She says, quote billionaires
Speaker 1: like Elon Musk played by a different set of rules
Speaker 1: than everyone else, accumulating power for their own gain. It's
Speaker 1: dangerous because one billionaire decides how millions of people will
Speaker 1: have an opportunity to communicate with each other. The deal
Speaker 1: has potential roadblocks, beginning with the SEC but this one
Speaker 1: threatens to be very heated in San Francisco. I'm at
Speaker 1: Baxter Bloomberg Gay break all right, and thanks so I
Speaker 1: have more analysis on the Musk Tritter deal in a
Speaker 1: few minutes, and we speak with Bloomberg Quick takes Alex Webb. Well.
Speaker 1: Now to the latest on the war in Ukraine. Nathan.
Speaker 1: Russian Foreign Minister Sergei Lavrov warns the risk of nuclear
Speaker 1: war is real and cannot be underestimated. That's after Defense
Speaker 1: Secretary Lloyd Austin said the US wants to see Russian
Speaker 1: forces weakened in Ukraine. This morning, Secretary Austin is pledging
Speaker 1: continued US support. Ukraine has done a magnificent job defending
Speaker 1: its sovereignty against Russia's unprovoked invasion, and Defense Secretary and
Speaker 1: skill will go down in military history. And Defense Secretary
Speaker 1: Lloyd Austin spoke this morning from Ramstein Air Base in Germany. Meantime,
Speaker 1: the White House says President Biden also working on his
Speaker 1: next request for Ukraine eight to Congress. Theah Whinehouse is
Speaker 1: also taking action on COVID care, and the Biden administration
Speaker 1: plans to allow all pharmacies towarder Finser's COVID nineteen therapy
Speaker 1: pill as it looks to boost access to the drug,
Speaker 1: is supplying races. Starting this week, Tens of thousands of
Speaker 1: pharmacies will be able to order the drug since it
Speaker 1: started a pandemic. Nathan, Global events and meetings have gone virtual,
Speaker 1: but now FED chair J Powell is set to hold
Speaker 1: this first in person press conference since Covid emerged. Help
Speaker 1: me live with reporters following the conclusion and next week's
Speaker 1: two day policy meeting well. Inflation will be a main
Speaker 1: focus for how at that news conference. Karen and data
Speaker 1: this morning show prices heading even higher for consumers. According
Speaker 1: to a survey from the National Federation of Independent Business
Speaker 1: for and ten US small businesses planned to raise prices
Speaker 1: by at least ten percent. On Wall Street Today, Nathan,
Speaker 1: we get a clearer picture of how big business is faring.
Speaker 1: Earnings role in this afternoon for a Microsoft and Google,
Speaker 1: we get a preview from Bloomberg's John Tucker. Google parent
Speaker 1: Alphabet has been held by a rebound and digital advertising,
Speaker 1: but the shares of Light and the stock will also
Speaker 1: face some more difficult year over year growth comparison. Analysts
Speaker 1: estimate earnings per share of dollars seventy three cents, down
Speaker 1: two percent from a year earlier. At Microsoft, analysts are
Speaker 1: expending earning for sure of two nineteen, the company may
Speaker 1: report strong cloud results that could more than offset any
Speaker 1: potential weakness in its consumer business. John Tucker, Bloomberg Daybreak,
Speaker 1: All right, John, thank you and crossing the Bloomberg ups
Speaker 1: is first quarter cross profit beating analysts estimates, and PepsiCo's
Speaker 1: organic revenue forecast for the year also beat. Nathan. It's
Speaker 1: also a big day for earnings in Europe, Karen. We
Speaker 1: get the very latest on that with Bloomberg's You and
Speaker 1: Parts in London. Good Morning You, and good morning Nathan
Speaker 1: and Karen. A trio of banking sector beats this morning.
Speaker 1: Ubs riding a trading boom with better than expected profit
Speaker 1: in the first quarter, but the Swiss banks key wealth
Speaker 1: management business hit by slowing clients activity and rising costs.
Speaker 1: Spain's Santane also beating estimates, with the retail banking giants
Speaker 1: geographical reach providing a buffer against growing economic risks, and
Speaker 1: a just BC posting a smaller drop in adjusted pretax
Speaker 1: profit than analysts predicted. Europe's biggest bank reporting lower than
Speaker 1: expected credit loss provisions in London, Immune Parts, Bomberg daybreak,
Speaker 1: All right you and thank you right now. I some
Speaker 1: futures are down nine points down, futures down eighty NASTAC
Speaker 1: futures are lower by thirty one points. The tenure treasury
Speaker 1: is up eight thirty seconds, yield two point seven percent.
Speaker 1: Yield on the two year two point six zero percent.
Speaker 1: Nimex crew down a half percent at ninety eight dollars
Speaker 1: nine cents of barrel. Local headlines in sports. Next, this
Speaker 1: is Bloomberg. Sounds six oh seven on Wall Street. We're
Speaker 1: fifty two degrees in Central Park. We have an accident
Speaker 1: on the eastbound Cross Bronx Expressway at the Deagan. Details
Speaker 1: coming up in traffic. First Michael Barr with more on
Speaker 1: what's going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning, Nathan. And New York judges
Speaker 1: found former President Donald Trump in contempt of court for
Speaker 1: failing to adequately respond to a subpoena issued by the
Speaker 1: state's attorney general asked part of a civil investigation into
Speaker 1: his business dealings. The judge ordered Trump to pay a
Speaker 1: fine of ten thousand dollars per day. New York Attorney
Speaker 1: General Letitia James had asked the court to hold Trump
Speaker 1: in contempt after he missed a March thirty, first quarter
Speaker 1: imposed deadline to turn over documents. Trump has called her
Speaker 1: investigation of politically motivated which hunt. A federal judge in
Speaker 1: Louisiana has temporarily blocked the Biden administration from lifting the
Speaker 1: border restrictions put in place during the coronavirus pandemic. Title
Speaker 1: forty two was supposed to be lifted on May. The
Speaker 1: temporary restraining order was requested by its twenty one Republican
Speaker 1: led states. Bloomberg political contributor Rick Davis says, it seems
Speaker 1: the Biden administration has bungled its administration policy, and it
Speaker 1: just seems like they haven't really focused on what the
Speaker 1: impact is at the state level. They didn't consult states
Speaker 1: that are impacted by the border, and and now the
Speaker 1: whole thing seems to be adding a lot of confusion. Frankly,
Speaker 1: very reminiscent of the current COVID policy. Whether it just
Speaker 1: doesn't seem to be a strategy and play here. Bloomberg
Speaker 1: political contributor Rick Davis spoke with Abur Washington corresponded Joe
Speaker 1: Matthew on Bloomberg Sound on Catch the program weekdays at
Speaker 1: five pm Eastern on Bloomberg Radio. Workers at a second
Speaker 1: Amazon dot Com warehouse in Staten Island again voting Monday
Speaker 1: on whether to join an upstart union that already won
Speaker 1: a historic election at a nearby facility. Employees at the
Speaker 1: warehouse called l d J five will cast their ballots
Speaker 1: through Friday, with the results expected as early as many seconds.
Speaker 1: Two days before a mother of fourteen children was scheduled
Speaker 1: to die in a Texas death chamber, Melissa Luccio, received
Speaker 1: a last minute reprieve. Supporters of Luccio, accused of killing
Speaker 1: her two year old child, found a forensic expert who
Speaker 1: says her child's fatal injuries were consistent with an accidental fall.
Speaker 1: Luccio's son, John Luccio, We're gonna believe in God, and
Speaker 1: we're gonna continue believe in him and keeping to keep
Speaker 1: our faith up with him in a keep on fighting
Speaker 1: this fight. Will we bring her home. She's no longer
Speaker 1: going to be executed. My mother will be free soon,
Speaker 1: John Luccio says. A court to rule on the new evidence.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quick Take powered by more than twenty seven
Speaker 1: hundred journalists and analysts more than a hundred twenty countries.
Speaker 1: H Michael Barr, This is Berg, Nathan Thanks Michael almost
Speaker 1: six cent on Wall Street time for the Bloomberg Sports
Speaker 1: that Day with John stanho Al Nathan. This NBA season
Speaker 1: began with high hopes for the New York teams. The
Speaker 1: Knicks were expected to release make the playoffs and Nets
Speaker 1: were expected to compete for the championship. Neither thing happened.
Speaker 1: The Celtics completed the first round sweet for the Nets,
Speaker 1: taking Game four in Brookelyn one sixteen to one twelve
Speaker 1: Jason Tatums twenty nine points. Boston survived Tatum fouling out
Speaker 1: on the fourth quarter. Kevin Durant so quiet the first
Speaker 1: three games of the series, did come alive with thirty
Speaker 1: nine points, but Durant goes out in the first round
Speaker 1: for the first time in his career. He also had
Speaker 1: never gotten swept in a series before k d is signed.
Speaker 1: He should be back in Brooklyn. Tier Herby may not be.
Speaker 1: Who knows about Ben Simmons. He was acquired for James
Speaker 1: Harden and never did play this season. Toronto stayed alive
Speaker 1: at Game five win in Philadelphia, whose lead is now
Speaker 1: three to Dallas beat Utah by five to go up
Speaker 1: three too. In memphisis John Morant named the nbass comproved
Speaker 1: play the Mets in St. Louis, Max Shers are terrific.
Speaker 1: Seven ames, no runs, two hits, ten strikeouts. We got
Speaker 1: no run support, and the Cardinals broke up a scoreless
Speaker 1: game with two runs in the eighth inning. The Mets
Speaker 1: then rallied in the ninth. Diego's ready as pitch, So
Speaker 1: we're gonna ground ball toward first. Cold Schmidt a diving stop.
Speaker 1: Nobody's covering first? What the Diego? Smith? This safe? Big deal? Run?
Speaker 1: Third throw home d safe. The Mets have the lead.
Speaker 1: Dominic Smith comes through off the bench with two outs
Speaker 1: in the top of the dive. CBS had a Brandon
Speaker 1: demo following the two run over, and the Mets improved
Speaker 1: a thirteen and five. They beat the Cardinals five to two.
Speaker 1: Yankeesh's ball the more tonight at the Rangers have any
Speaker 1: hopes of winning the division, they'll need to beat Carolina
Speaker 1: tonight at the Garden. John Stash with Bloomberg Sports. All right, John,
Speaker 1: thanks and just In. Elon Musk has filed an amended
Speaker 1: thirteen D with the Securities and Exchange Commission on Twitter,
Speaker 1: saying he's entered into a new debt commitment letter as
Speaker 1: of April and amended the equity commitment letter to reflect
Speaker 1: the merger. Pack much more on Elon Musk's By out
Speaker 1: of Twitter, we'll be speaking with Alex Webb of Bloomberg Quicktake.
Speaker 1: This is Bloomberg Bloomberg eleven three oh weather mostly cloudy today,
Speaker 1: chancefer showers with behind your sixty five degrees that will
Speaker 1: be mostly sunny tomorrow, upper fifties high your fifty five Thursday,
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Speaker 1: and cloudy in Central Park markets. Headlines and breaking news
Speaker 1: twenty four hours a day at Bloomberg dot Com, the
Speaker 1: Bloomberg Business at and at Bloomberg Quick Take. This is
Speaker 1: a Bloomberg Business lash and I'm Cameron Moscow and US
Speaker 1: stock index futures are lower ahead of a slew of earnings.
Speaker 1: We already heard from PepsiCo this morning. At raised its
Speaker 1: sales growth estimates for the year as consumers return to bars, restaurants,
Speaker 1: and events due to easing pandemic restrictions, and UPS reported
Speaker 1: a first quarter profit that beat analysts estimates, but US
Speaker 1: stock index futures again are moving lower with US and
Speaker 1: Key Future is down fourteen points down, futures down a
Speaker 1: hundred fifteen NSDAG futures down forty eight. Ten year treasury
Speaker 1: up eight thirties seconds, YELD two point seven eight percent.
Speaker 1: That yield on the two year to point six zero percent.
Speaker 1: NIMEX screwed oil is down about half percent or forty
Speaker 1: four cents, and ninety eight dollars ten cents of barrel comics.
Speaker 1: Gold is up half percent or ten dollars ten cents
Speaker 1: at nineteen o six ten. Announced the euro one point
Speaker 1: six eight zero against the dollar, British pound one point
Speaker 1: seven one one, the yen at one seven point eight one,
Speaker 1: and Bitcoin this morning higher by half percent at forty thousand,
Speaker 1: three hundred eighty dollars. That's a bloomberg business flash. Now
Speaker 1: here's muchael bar with more unless going on around the world.
Speaker 1: Muckel Karen, thank you very much. Russian foreign ministers Sergei
Speaker 1: Lavrov warned Ukraine against provoking World War three. Lab Rof
Speaker 1: said on Russian TV that the threat of a nuclear
Speaker 1: conflict should not be underestimated. There's molting pressure on former
Speaker 1: Trump White House Chief of Staff Mark Meadows to turn
Speaker 1: over additional information to Annuary sixth congressional investigators. More than
Speaker 1: two thousands of Meadows text first reported by CNN, have
Speaker 1: now been released. According to the text, some of Donald
Speaker 1: trump staunches allies in Congress wanted him to declare martial
Speaker 1: law to prevent Joe Biden from becoming president. In the
Speaker 1: NBA playoffs, the Celtics eliminated the Nets. Boston beat Brooklyn
Speaker 1: one sixteen, one twelve to sweep the series in four games.
Speaker 1: In MLB, the Mats and Giants won, the Red Sox lost.
Speaker 1: Global news twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake Power by more than twenty seven hundred
Speaker 1: journalist and analysts more than a hundred twenty countries. Michael
Speaker 1: Barr and this is Bloomberg. Nathan alright, Michael, thank you.
Speaker 1: At six nineteen on Wall Street Live from the Bloomberg
Speaker 1: Interactive Broker Studios. This is Bloomberg Daybreak, and our team
Speaker 1: coverage of Elon Musk's forty four billion dollar buyout of
Speaker 1: Twitter continues. Now we're very pleased to be joined this
Speaker 1: morning by Alex Webb, Bloomberg Quick Take correspondent and tech
Speaker 1: columnists for Bloomberg Opinion. Alex, you have written ex stensively
Speaker 1: about the lead up to this buy out, the potential
Speaker 1: for Elon Musk to take Twitter private, and I guess
Speaker 1: one of the biggest among the many questions that still
Speaker 1: have to be answered is how is Elon Musk going
Speaker 1: to change Twitter. Here's a question that is befuddling a
Speaker 1: lot of us. He look, he's made a few comments
Speaker 1: about the operations of the company. The key things he
Speaker 1: can go in one of two directions. You can go
Speaker 1: in both. There are financial changes he can make to
Speaker 1: improve profit and there are things that he can change
Speaker 1: that suit his own personal agenda. Namely, he talks a
Speaker 1: lot about trying to make it a platform for free
Speaker 1: speech one. But he's also secured debt financing from a
Speaker 1: lot of reputable banks, and he made presentations, has been
Speaker 1: reported by our colleagues and Blue Veg News, he made
Speaker 1: presentations which convince them that he does have a financial
Speaker 1: model for the company. So then you have to look
Speaker 1: at that and go, well, is it about adding more
Speaker 1: users or is it about extracting more value from the
Speaker 1: users that you have. The second piece is the easier
Speaker 1: leave at to pull. You've already got that audience, and
Speaker 1: so you've got to think about whether it's a subscription
Speaker 1: model or just extracting more advertising value from those users.
Speaker 1: We've seen another of the mega millionaire billionaires, Jeff Bezos
Speaker 1: uh sort of taking a swipe at Elon Musk on
Speaker 1: Twitter after this news came out. Kind of raised maybe
Speaker 1: an ad left field question for me. I wonder if
Speaker 1: there's a parallel to be drawn here between Jeff Bezos
Speaker 1: buying out the Washington Post and Elon Musk buying out
Speaker 1: Twitter sort of a media play as sort of a
Speaker 1: free speech platform in that to that extent, So I
Speaker 1: think on one level there are parallels, namely that you
Speaker 1: know a lot of billionaires by big media assets. We've
Speaker 1: got Time magazine, which is owned by Mark Bennioff, obviously
Speaker 1: Bezos of the Washington Post, the John Edwards zones at
Speaker 1: the Boston Globe, and Twitter is essentially the biggest available
Speaker 1: media platform media outlet. There's a substantial difference, though Bezos
Speaker 1: committed to not intervening editorially with The Washington Post and certainly,
Speaker 1: looking from the outside, it appears that he has held
Speaker 1: true to that promise. Elon from the get go has
Speaker 1: made it very clear that he intends to intervene with
Speaker 1: the way that Twitter is run, and if it's all
Speaker 1: about free speech, with the politics of it. So there
Speaker 1: are similarities, but there is that crucial difference. Yeah, we've
Speaker 1: certainly seen that influence playing out on Elon Musk's Twitter
Speaker 1: feed itself. And I wonder if we could sort of
Speaker 1: glean from the many tweets that Elon Musk has put
Speaker 1: out there, which ideas is he serious about, which ones
Speaker 1: is he just sort of putting out there just to
Speaker 1: get people talking. The split The free speech one is
Speaker 1: clearly top of the list. Quite what that entails, you know,
Speaker 1: the proof is in the pudding. Doesn't mean Donald Trump
Speaker 1: comes back onto the platform. It would certainly seem that way.
Speaker 1: But there are again important caveats here. There are a
Speaker 1: whole raft of regulations in the works around the world.
Speaker 1: Just last week, the European Parliament agreed on a set
Speaker 1: of proposals to limit or or place important checks and
Speaker 1: measures over what can be posted on social media, damaging content,
Speaker 1: criminal content, online harms, similar stuff is in the works
Speaker 1: in the US and in the UK that will limit
Speaker 1: his ability to do to be a true free speech absolutist.
Speaker 1: The operational stuff, he has not really talked about how
Speaker 1: to make it more profitable than it is right now. Now, clearly,
Speaker 1: if it's a private company, the impetus for growth is
Speaker 1: not going to be as high, but he will need
Speaker 1: to be repaying banks for the debt that he's raised.
Speaker 1: That means that he needs to generate some cash flows,
Speaker 1: and there are ways you can do that by, for example,
Speaker 1: increasing the odd exposures of people you already have, or
Speaker 1: as I said, perhaps thinking about a subscription model where
Speaker 1: that is harder to generate growth, but it can give
Speaker 1: you more predictable cash flows, which is something that of
Speaker 1: course debt holders like. And only about thirty seconds left here,
Speaker 1: Which do you think is the likeliest option for Elon
Speaker 1: Musk to try to make Twitter more profitable if that
Speaker 1: is his motivation? Well, in his support of Elon and
Speaker 1: Jack Dorsey, the former CEO of his perceived its rain,
Speaker 1: very close to him, said he didn't he'd always regretted
Speaker 1: the fact that it was an advertising base model, so
Speaker 1: that would seem suggests it's going to be something else
Speaker 1: that might mean. Therefore, the subscriptions are the path that
Speaker 1: he picks. Very interesting as always, Alex. Great to have
Speaker 1: you on with us, Thanks for this. Alex Webb is
Speaker 1: tech calumnist for Bloomberg Opinion. You can catch him on
Speaker 1: Bloomberg Quick Take as well. He's a correspondent there, and
Speaker 1: we will continue our team coverage of Elon Musk's Twitter
Speaker 1: buy out as we await big tech earnings. Are five
Speaker 1: things you need to know to start your day. Just
Speaker 1: ahead here on Bloomberg Daybreak. That's as we watch earnings
Speaker 1: from General Electric across the Bloomberg terminal. Profit beat estimates,
Speaker 1: but the outlook has come in shy of analysts estimates.
Speaker 1: Will be watching GE shares throughout the morning here on
Speaker 1: Bloomberg Daybreak, Bloomberg eleven three oh weather, mostly cloudy, chance
Speaker 1: for showers today with a hin your sixty five, upper fifties,
Speaker 1: mostly sunny Tomorrow, mostly sunny, breezy, mid fifties by Thursday.
Speaker 1: Right now fifty two degrees in Central Park. Broadcasting live
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Speaker 1: I'm Kard Moscow, and we're just about three hours away
Speaker 1: from the open of US trading. Time for the five
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Speaker 1: Slash compare up First, Elon musk Is clinched a forty
Speaker 1: four billion dollar deal to take Twitter private and San
Speaker 1: Francisco Bloomberg's and Ludlow has more on what's next for shareholders.
Speaker 1: Each investor will receive fifty four dollars and twenty cents
Speaker 1: for each share that they hold. The deal has the
Speaker 1: unanimous backing of Twitter's board, and the transaction is expected
Speaker 1: to close by the end of this year. The deal
Speaker 1: also includes a provision where Elon Mousque, according to sources,
Speaker 1: would have to pay Twitter a fee if he was
Speaker 1: to walk away from the deal, Bloomberg said. Ludlow says
Speaker 1: Twitter cannot solicit other offers while the transaction is pending.
Speaker 1: So where will Elon must get the cash to buy Twitter?
Speaker 1: Bloomberg's Uneda Young joins us live in New York with
Speaker 1: that good morning, Good morning, Nathan. It's the twenty one
Speaker 1: billion dollar mystery. Now there's little doubt Elon Musk can
Speaker 1: come up with the money. After all, the bloom Billionaire's
Speaker 1: Index shows he's the world's richest person, with a fortune
Speaker 1: of two hundred fifty seven billion dollars, But Bloomberg estimates
Speaker 1: show Musk has just about three billion in cash and
Speaker 1: somewhat liquid assets, so that leaves him with at least
Speaker 1: three options for financing. One way, Musk could find other
Speaker 1: investors who buy into his vision, and he's already hinted
Speaker 1: at this possibility. Another, he could sell some of his
Speaker 1: steak in Tesla, but that will likely put the stock
Speaker 1: price at risk. And Third, since Musk is likely even
Speaker 1: richer than calculated by the Bloomberg Billionaires Index, he might
Speaker 1: not even need new sources of funding to cover the
Speaker 1: twenty one billion dollars. Live in New York. I'm Rnita
Speaker 1: Young Bloomberg daybreak. All right, Nita, thank you all overseas.
Speaker 1: Russian for a Minister Sergei Lavrov suggested talks of the
Speaker 1: U S could help and the war in Ukraine, but
Speaker 1: weren't a serious risk of a nuclear conflict. Meanwhile, Secretary
Speaker 1: of Defense Lloyd Austin pledge the US will continue support
Speaker 1: in Ukraine. We have much more to do Ukraine. These
Speaker 1: are helped to win today and they will still need
Speaker 1: our help when the war is over. US Defense Secretary
Speaker 1: Lloyd Austin, speaking today after visiting Kiev over the weekend.
Speaker 1: Turning to the FED, Karen shape Powell, the Chairman, will
Speaker 1: hold an in person press conference after next week's Today
Speaker 1: Policy meeting. At Powell's last in person presser was on
Speaker 1: March And it's another big day for earnings Alphabet and Microsoft,
Speaker 1: or at least results after the bell. We just heard
Speaker 1: from General Electric and first quarter profit beat analysts estimates.
Speaker 1: Capital One and Visa also report today. Futures this morning
Speaker 1: are lower. And that's the five things you need to
Speaker 1: notice start your day. Brought to you by Interactive Brokers.
Speaker 1: This is Bloomberg, all right, Karen, Thanks, six Wall Street,
Speaker 1: fifty three degrees in Central Park, Forty five minute delays
Speaker 1: on the upper level, g w B. I'll tell you why.
Speaker 1: Coming up in traffic first, Michael Barr with more on
Speaker 1: what's going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. Former President Donald Trump
Speaker 1: was held in contempt of court today and order to
Speaker 1: pay a fine of ten thousand dollars per day. A
Speaker 1: New York judge made the ruling against Trump. We're failing
Speaker 1: to adequately respond to a subpoena from New York's Attorney General.
Speaker 1: Trump's attorneys said they will appeal this contempt holding, in
Speaker 1: part because they say the subpoena documents simply don't exist.
Speaker 1: A federal judge is now granted the temporary restraining order
Speaker 1: preventing the Biden administration from lifting Title forty two. That's
Speaker 1: the Trump era public Health order, which allowed border patrol
Speaker 1: to return away illegal migrants to prevent the spread of
Speaker 1: COVID nineteen. Bloomberg's political contributor genie's Ano. I think one
Speaker 1: of the things that's gotten the Biden administration tripped up
Speaker 1: here quite frankly, is they keep its saying this is
Speaker 1: a matter of public health, not politics. It is a
Speaker 1: matter of public health, but it's also politics. And what's
Speaker 1: tripping them up is you can't divorce the two. Genie
Speaker 1: Zeno spoke with Our Washington corresponded Joe Matthew on Bloomberg
Speaker 1: Sound on Catch the program weekdays at five pm Eastern
Speaker 1: on Bloomberg Radio. Judges on New York's Court of Appeals
Speaker 1: are sent to here are mints in a lawsuit claiming
Speaker 1: democrats illegally gerrymander the boundaries of the state's new congressional
Speaker 1: districts to lower courts have already ruled that the district
Speaker 1: maps were drafted specifically to give democrats an advantage. A
Speaker 1: mid level appeals court last week gave the legislature a
Speaker 1: deadline of people thirty to come up with revised maps.
Speaker 1: Florida Governor around the Santis, has signed a bille setting
Speaker 1: up an election police force. You compare us to some
Speaker 1: of these other states, We did a better job, but
Speaker 1: there's a lot that needs to be addressed, and so
Speaker 1: we weren't going to just sit there and say, oh, yeah,
Speaker 1: We've got everything figured out, because there was more to do.
Speaker 1: In the state of Florida, Democrats in the state are
Speaker 1: accusing Republicans of creating public distrust in the integrity of elections.
Speaker 1: The Taxas Court of Criminal Appeals issued a stay of
Speaker 1: execution for Melissa Luccio. The fifty two year old mother
Speaker 1: of fourteen was convicted in the death of a two
Speaker 1: year old child. However, defense lawyers and supporters say there's
Speaker 1: new evidence that supports the theory that the child fractured
Speaker 1: its skull accident folding down steep stairs. List Luccio's son
Speaker 1: talked to his mother on the phone, holding it to
Speaker 1: the microphone. I just want to say thank you to
Speaker 1: everybody who had supported me. Supporters say Luccio's confession was
Speaker 1: coerst Global News twenty four hours a day on air
Speaker 1: and on Bloomberg Quick Take, powered by more than journalists
Speaker 1: analysts more than a hundred twenty countries. Michael bar this
Speaker 1: is Bloomberg Naked. Thank you. Michael's just about six thirty
Speaker 1: six on Wall Street. John stash Hour has the Bloomberg
Speaker 1: Sports upthing. Thanks Nathan. The Nets began the season as
Speaker 1: championship contenders they had three superstars, but James Harden got traded,
Speaker 1: Kevin Durant got hurt, the unvaccinated Kyrie irving for most
Speaker 1: of the season either didn't play at all or then
Speaker 1: just on the road. They got Ben Simmons for Harden,
Speaker 1: but he never played at all. So a bizarre Net
Speaker 1: season and it ended in Brooklyn a one six twelve
Speaker 1: win by the Celtics, who finished off a surprising first
Speaker 1: round sweep. They won all four games by single digits
Speaker 1: as Tatum outplayed Durant. Although Kade didn't come alive last
Speaker 1: night with thirty nine points, seven rebounds, nine assists didn't
Speaker 1: help the Nets that Nick Claxton was one per eleven
Speaker 1: from the three throw line, fourth for twenty two in
Speaker 1: the series. Was it Kyrie's last game as a net
Speaker 1: sounds like it wasn't. I'm just used using that as
Speaker 1: fuel for the summer and come into the season starting
Speaker 1: from October um and and just getting a good start
Speaker 1: as a team and hopefully we won't run into any
Speaker 1: barriers um and we could just start fresh. I mean,
Speaker 1: he's expected to decline a thirty seven million dollar option
Speaker 1: become a free agent. He says he wants to be back,
Speaker 1: but two years ago he said he wanted to stay
Speaker 1: in Boston. He left Celtics. The only team so far
Speaker 1: to advanced Philadelphia was up three nothing, that's now three
Speaker 1: two is Toronto one in Philly? Dallas an easy win,
Speaker 1: aw up three two on Utah. Want to win for
Speaker 1: the Mets. A pitcher's duel in St. Louis as Max
Speaker 1: Scherzer was terrific. Cardinals score twice, Fott of the eighth
Speaker 1: and the Mets scored five. And then I had cap,
Speaker 1: I have Brandon Nimbo to run omer and the Nets
Speaker 1: beat the Cards five to two. Yankees home tonight for
Speaker 1: Baltimore and the Rangers home tonight for a big game
Speaker 1: of first place Carolina. John Sparre Show, Bloomberg Sports, Navid Okay, John,
Speaker 1: Thanks six thirty seven on Wall Street. Time to take
Speaker 1: a look at stock, some of the names moving in
Speaker 1: the pre market. Bloomberg Radio and TV Markets correspondent Creedy
Speaker 1: Gupta is with us this morning. Not much to talk about,
Speaker 1: Creedy um debatable, tomatable, lot going on with Twitter, that
Speaker 1: sarcasm naming and I'm sorry the copy hasn't the copy hasn't.
Speaker 1: We'll let that kick in for you. Yeah, let's talk Twitter,
Speaker 1: shall we? Twitter? T w t R is your ticker
Speaker 1: up seven tenths of a percent. Now, remember a lot
Speaker 1: of this news came in yesterday's trading session, so there
Speaker 1: isn't necessarily a postmarket surprise that it's going to kind
Speaker 1: of digest in the shares. Nevertheless, for those who aren't
Speaker 1: keeping up with Twitter, Tesla or excuse me, Tesla CEO
Speaker 1: Elon Musk has officially landed the deal to take Twitter
Speaker 1: private for forty four billion dollars um. It looks like
Speaker 1: he does have to put up a little bit of
Speaker 1: his own financing twenty one billion dollars, I believe, so
Speaker 1: a lot of the focus today is going to be
Speaker 1: how he's actually gonna make that twenty one billion happened,
Speaker 1: given the rest of the money has been coming from
Speaker 1: Barkley's Make for America and u f G, among several
Speaker 1: other banks as well. I think the real kind of
Speaker 1: analysis you want to keep an eye on here is
Speaker 1: what other stocks in the market are going to be
Speaker 1: moving off of this news. So, for example, Tesla is
Speaker 1: going to be a big one. T s l A
Speaker 1: is your ticker, and this is important because the idea
Speaker 1: was that does Elon Musk have to leverage his Tesla
Speaker 1: position to then finance his Twitter bid uh And right
Speaker 1: now Tesla is actually up in the pre market, up
Speaker 1: zero point two percent t s l A once again,
Speaker 1: but that can very easily change the negative correlation, which
Speaker 1: basically means like the dynamic between the two in the
Speaker 1: last couple of weeks has been that when Tesla or
Speaker 1: when Twitter is up on this kind of Elon Musk news,
Speaker 1: Tesla has actually been down in responds to the idea
Speaker 1: that he's going to have to leverage his Tessela shares
Speaker 1: to buy Twitter. So once again that's gonna be a
Speaker 1: big part of the conversation today. Keep an eye on
Speaker 1: both of them because they're both tech and they can
Speaker 1: both move the market. D w a C, which is
Speaker 1: the Digital World Acquisition Corps essentially this back that's taking
Speaker 1: President Trump's media company Public up five point three percent
Speaker 1: after he told Fox News, I'm not moving back to
Speaker 1: Twitter even if they unsuspended my account, So good news
Speaker 1: there for his social media company. Also, keep an eye
Speaker 1: on Snapchat s n A p is your taker down
Speaker 1: one point two percent to a more story for pent
Speaker 1: s p I n s is your Taker down eight
Speaker 1: tens of a percent. That's a monetization story. Think about
Speaker 1: your social media competitors for Twitter, Snapchat and Pinterest not
Speaker 1: doing so well this morning. All right, just quickly, let's
Speaker 1: look at some of the names that are moving on
Speaker 1: earnings this morning. Yeah, two big ones. PepsiCo is the one.
Speaker 1: P EPs your Taker up two tenths of a percent.
Speaker 1: We're waiting for the earnings calls. We're gonna get a
Speaker 1: little bit more information there, but right now they raise
Speaker 1: their sales growth, basically saying consumers are returning to bars
Speaker 1: thanks to the easing of pandemic restrictions. The other one
Speaker 1: you want to keep an eye on is g E.
Speaker 1: G is also the name of the company, and the
Speaker 1: ticker down just shrive three percent. This comes after they're
Speaker 1: seeing challenges and inflation, the rush of Ukraine War, renewable
Speaker 1: energy supply chain constraints, and launching three independent investment grade
Speaker 1: companies invest There's not like very important earning story there
Speaker 1: from g R Right Bloomberg Radio on TV markets correspondent
Speaker 1: Creedy Goopa always something to talk about in a pre
Speaker 1: market looking ahead to the market open. SMP futures down
Speaker 1: fourteen points down, futures down a twenty two and NASTAC
Speaker 1: futures lower by fifty points. You're listening to Bloomberg Daybreak
Speaker 1: Bloomberg eleven three oh weather, most of the cloudy, chance
Speaker 1: for showers today, mid sixties for highs. We'll get into
Speaker 1: the upper fifties, mostly sunny tomorrow and it will be
Speaker 1: mostly sunny, breezy with a high in your fifty five
Speaker 1: on Thursday. Right now fifty three degrees in Central Park. Markets.
Speaker 1: Headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, the Bloomberg Business at and at Bloomberg Quicktake,
Speaker 1: This is a Bloomberg business lash and I'm Karen Moscow.
Speaker 1: Futures are lower, earnings are crossing the Bloomberg. We go
Speaker 1: to the first word breaking news dash for the for
Speaker 1: today's morning call, and here's Bill Maloney. Bill, good morning,
Speaker 1: and good morning, Karen. US futures are in the red
Speaker 1: right now ATWN futures down a hundred points, SPS dropped
Speaker 1: thirteen well Nasdick futures are off by forty two. The
Speaker 1: US ten year old at two point seven eight percent,
Speaker 1: Gold is up six, oil is down and bitcoin is
Speaker 1: higher by point six percent. Shanghai dropped one point one
Speaker 1: point four percent overnight, while up markets are in the green,
Speaker 1: led by one percent gains in France and Germany. Back
Speaker 1: in the US on the economic Fronday thirty durable goods
Speaker 1: orders and at ten o'clock new home sales and consumer confidence.
Speaker 1: After the bellas night, Whirlpool cut its forecast and regarding
Speaker 1: some of the earnings this morning, GE said full year
Speaker 1: just the EPs will be at the low end of
Speaker 1: the range. Three M sales miss destimates. Ups B and
Speaker 1: PEPSI raised its sales outlook, rapping things up Bike your
Speaker 1: hues raised to vibe over at hs b C Live
Speaker 1: from the first breaking news descom Bill Maloney, Karen right,
Speaker 1: Bill Maloney, thank you, and here live breaking news over
Speaker 1: your Bloombergy Times Squawk on your terminal squ a a
Speaker 1: UK and just looking at some of those stocks moving
Speaker 1: in the early trade with General Electric down three point
Speaker 1: two percent right now ups is up three and a
Speaker 1: third percent, and that's a Bloomberg business flash. And now
Speaker 1: we see what's going on around the world. And here's
Speaker 1: Michael Barr, Michael Karen, thank you very much. Antonio Guta's
Speaker 1: head of the United Nations is in Moscow to try
Speaker 1: to discuss a possible ceasefire with the Russian President of
Speaker 1: Vladimir Putin. Meanwhile, Ukraine says five train stations were hit
Speaker 1: by Russian air strikes in the space of an hour. Yesterday,
Speaker 1: Following a three days search, the body of a missing
Speaker 1: Texas Army National Guard soldier from Arlington was found in
Speaker 1: the Rio Grand River near Eagle Pass. That's where it's
Speaker 1: twenty two year old specialist Bishop Evans was last seen
Speaker 1: trying to help two migrants who appeared to be drowning.
Speaker 1: In the NBA playoffs, the Celtics eliminated the Nets. Boston
Speaker 1: beat Brooklyn one sixteen, one twelve to sweep the series
Speaker 1: in four games. In MLB, the Mats and Giants won
Speaker 1: the Red Sox lost. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quick Take, powered by
Speaker 1: more of that hundred journalists and analysts more than a hundred,
Speaker 1: twenty countries. Michael barn this is Bloomberg, Karen Ry, Michael,
Speaker 1: thank you. Sixty nine. On Wall Street, we turned to
Speaker 1: news and science and technology Now with a Bloomberg and
Speaker 1: j I T. Stammerport brought to you Buy New Jersey
Speaker 1: Institute of Technology and j i T offers New Jersey's
Speaker 1: first undergraduate degree in fintech tech driven finance Focus. To
Speaker 1: learn more at n j i T dot edu, slash
Speaker 1: fintech and now Here's what's making news and science, Technology, engineering,
Speaker 1: and math. Beijing has begun mass coronavirus testing of millions
Speaker 1: of its residents. It's part of an unprecedented scheme to
Speaker 1: squash omicrons spread before its spirals out of control. In
Speaker 1: the Chinese capital, nearly twenty million people undergo three grounds
Speaker 1: of COVID testing through the weekend. Democratic Senator Joe Mansion
Speaker 1: is exploring an energy and climate packaging at Winning Republican
Speaker 1: support by partisan energy package could undercut the broader democratic agenda,
Speaker 1: but it could give President Biden an election year win
Speaker 1: on an issue voters care about. Mansion says. One area
Speaker 1: of common ground could be reform of the federal oil
Speaker 1: and gas leasing process and an investor led push for
Speaker 1: major oil companies to set climate goals in line with
Speaker 1: the Paris Agreement. One support from a key proxy advisor
Speaker 1: for the first time institutional shareholder Services urged investors and
Speaker 1: Occidental Petroleum and refiner Valero Energy to back proposals to
Speaker 1: align the company's targets for cutting greenhouse gas emissions, including
Speaker 1: those of their customers, with the Paris Accord and as
Speaker 1: according to investor reports seen by Bloomberg. And that's a
Speaker 1: Bloomberg n j I t Stem report. Nathan Okay, Karen,
Speaker 1: thanks rely from the Bloomberg Interactive Brokers studios where it's
Speaker 1: almost six fifty one on Wall Street time. Now to
Speaker 1: check with Square in d C. Some of the top
Speaker 1: stories in our nation's capital include Senator Elizabeth Warren calling
Speaker 1: Elon Musk's Twitter buy out dangerous, Defense Secretary Lloyd Austin
Speaker 1: hosting talks on boosting Ukraine's military, and President Biden issuing
Speaker 1: his first round of pardons as part of a new
Speaker 1: criminal justice this initiative. Let's bring back Joe Matthew now
Speaker 1: Bloomberg Washington correspondent, host of Sound on Here on Bloomberg Radio. Obviously,
Speaker 1: the Elon Musk Twitter story is not going away, certainly
Speaker 1: not this morning, and it's making the rounds on Capitol Hill. Now, Joe, Yeah,
Speaker 1: that's for sure. We heard from a number of lawmakers
Speaker 1: on this. You know, you get a big story like this.
Speaker 1: Nathan and it gets people talking. It was in the
Speaker 1: air on Capitol Hill, it was in the air at
Speaker 1: the White House. That came up in the White House briefing,
Speaker 1: Senator Elizabeth Warren had probably the strongest words, which might
Speaker 1: not come as a surprise. Not a big fan of
Speaker 1: Elon Musk buying Twitter, in fact, says that the deal here,
Speaker 1: assuming that it closes, and that that's a big assumption
Speaker 1: at the moment, demonstrates the need for serious regulation for
Speaker 1: big tech. Those are her words. She says, it's dangerous
Speaker 1: for one billionaire to decide how millions of people will
Speaker 1: communicate with each other. And it sounds a lot like
Speaker 1: what we heard from the White House yesterday, not quite
Speaker 1: as full throated. But Jen Saki was asked about this
Speaker 1: the White House Press Secretary and is clearly prepared for
Speaker 1: the question, saying that the President has long argued that
Speaker 1: tech platforms must be held accountable for the harms they cause,
Speaker 1: not actually quantifying them, but the harms they cause, and
Speaker 1: has been a strong supporter of reforms, she said, including
Speaker 1: reforming Section to thirty. That's gonna be an interesting prospect
Speaker 1: here for Republicans who have been calling for reforms to
Speaker 1: Section to thirty because they believe that conservative voices are
Speaker 1: are censored for lack of a better word, on sites
Speaker 1: like Twitter. Now that Democrats are talking about this, you
Speaker 1: wonder what form that could take. Yeah, And interestingly, when
Speaker 1: you think about section to thirty and potential reforms, anyone
Speaker 1: must talking about making Twitter more of a free speech platform.
Speaker 1: There's been a lot of discussion about whether former President
Speaker 1: Donald Trump could be allowed back on Twitter. Has there
Speaker 1: been any talk on Capitol Hill about that? Joe, Well,
Speaker 1: you know, it's it's interesting. I was actually asking a
Speaker 1: few folks about this yesterday. And this follows a comment
Speaker 1: from Trump himself on Fox saying that he would not
Speaker 1: be coming back to Twitter. You know, he's got his
Speaker 1: own platform now called truth Social. Uh. But then again,
Speaker 1: he's what do you say true? Do you truth? Untruth social?
Speaker 1: You don't tweet undrew he posted once? Is what I'm
Speaker 1: trying to say, as opposed to the twenty times a
Speaker 1: day that he used to be on Twitter. Anyone that
Speaker 1: I have asked any Republican is hopeful. In fact, well
Speaker 1: the number one doesn't believe it thinks that he will
Speaker 1: actually return to Twitter because he can't resist eighty million
Speaker 1: users but many of them are hoping that he does not.
Speaker 1: That is where Donald Trump found a lot of trouble
Speaker 1: for himself, of course, leading to his final ban from
Speaker 1: Twitter not that long ago, which potentially Joe raises the
Speaker 1: calculations for the mid terms. What potentially could a return
Speaker 1: of former President Trump to Twitter mean for Republicans in
Speaker 1: the mid terms. Well, it's a way for him to
Speaker 1: deliver the message on endorsements. It's a way for him
Speaker 1: to knock his opponents. It's all so as I mentioned away,
Speaker 1: for him to step in a pile. Uh. Look, there's
Speaker 1: still no edit button that I know. They're talking about
Speaker 1: that at Twitter. Uh, and I'm not sure the president
Speaker 1: would use But anyway, I mean the late night tweets.
Speaker 1: You have to go back in time. It's it's hard
Speaker 1: to even remember what that was like to be waking
Speaker 1: up every morning and running to Twitter to figure out
Speaker 1: what the future policy of the administration would be. People
Speaker 1: were fired on Twitter without hearing about it first and
Speaker 1: higher for that matter, without hearing about it. The way
Speaker 1: it would impact the midterm elections. I think we've seen
Speaker 1: this movie before, and of course the president is that
Speaker 1: the former president has endorsed a number of candidates in
Speaker 1: races around the country. I suspect that he'd be on
Speaker 1: that Twitter fairly often if you were allowed back. All right,
Speaker 1: and the time we have left, Joe, let's talk a
Speaker 1: little bit about the latest on what's happening in Ukraine.
Speaker 1: We have Defense Stary Lloyd Austin in Germany leading this
Speaker 1: major discussion about getting more military aid to Ukraine. It's
Speaker 1: an important discussion. We've got military leaders for more than
Speaker 1: forty countries, that's NATO and beyond all meeting at Ramstein
Speaker 1: Air Base in Germany. This is being hosted by the
Speaker 1: Secretary of Defense. The Chairman of the Joint Chiefs will
Speaker 1: be there, and this is to get real answers to
Speaker 1: not just how much money you need, but what do
Speaker 1: we need to spend it on? What actual tools do
Speaker 1: we need to send you in This follows the most
Speaker 1: recent shipment of heavy artillery and preparation for the Battle
Speaker 1: of the Dune Boss. And while that conversation is happening,
Speaker 1: the UN Secretary General is in Moscow to meet with
Speaker 1: Vladimir Putin, which Ukraine is not terribly fond of. Ukraine's
Speaker 1: defenseman is to wrote an op ed on the Wall
Speaker 1: Street Journal accusing the U N of being an enabler
Speaker 1: of Russian war crimes. Now, gu terrorist will move on
Speaker 1: to meet with President Zelenski on Thursday in Kiev and
Speaker 1: should be a fascinating conversation as we hear again from
Speaker 1: Russia's foreign minister, in this case Sergei Lavrov, you know,
Speaker 1: rolling out the possibility of of nuclear weapons being used,
Speaker 1: which says a lot about Russia's position and posture right
Speaker 1: now in Ukraine. Yeah, once again that rhetoric coming back.
Speaker 1: And just to turn things back to domestic politics because
Speaker 1: just this hour, Joe President Biden announced a pretty significant
Speaker 1: round of partings and commutations. This is the first time
Speaker 1: he's done this, Yeah, his first. A lot of folks
Speaker 1: expected some in his first year. We didn't get any
Speaker 1: offering clemency today to seventies seven non violent drug offenders,
Speaker 1: along with a former Secret Service agent who we've been
Speaker 1: reporting on Bloomberg. You can read about him on the Terminal,
Speaker 1: who claims he was singled out for prosecution after exposing
Speaker 1: racism in the agency. He was in fact convicted of
Speaker 1: selling a copy of an internal document. Abraham Bolden eighties
Speaker 1: six years old, the first African American to serve on
Speaker 1: a presidential detail. He has maintained his innocence all these years.
Speaker 1: Nathan all Right, Bloomberg Washington correspondent Joe Matthew with us
Speaker 1: this morning, catch much more this afternoon Bloomberg Sound on
Speaker 1: every weekday afternoon at five pm Wall Street time here
Speaker 1: on Bloomberg Radio. Pretty significant guest for Joe this evening,
Speaker 1: be speaking with Republican Congressman darryl Isa, So you want
Speaker 1: to check in for that conversation later today, and you
Speaker 1: can read much more about all these stories we've been
Speaker 1: talking about on Bloomberg dot com or on the Bloomberg Terminal.
Speaker 1: Listen to Bloomberg Radio in Washington, Bloomberg and one oh
Speaker 1: five point seven f M h D two. Right now,
Speaker 1: SMP futures are down thirteen points down, futures down a
Speaker 1: hundred six, Nasdaq futures down uh forty eight points. The
Speaker 1: tenure Treasury is up eight thirty seconds, the yield two
Speaker 1: point seven eight percent, yield on the two year two
Speaker 1: point five nine percent, and i'm x screwed up three
Speaker 1: tenths percent at a barrel. This red headline just crossing
Speaker 1: the Bloomberg terminal Raytheon is cutting its sales outlook for
Speaker 1: the fiscal year on Russia, global sanctions. Much more to
Speaker 1: come on Bloomberg surveillance. That's next for Karen Moscow. I'm
Speaker 1: Nathan Hager. This is Bloomberg