1 00:00:02,880 --> 00:00:05,880 Speaker 1: Live from the Bloomberg indirector Workers studios. This is Bloomberg 2 00:00:05,920 --> 00:00:09,080 Speaker 1: day Break for a Tuesday, April nineteen two. Coming up 3 00:00:09,080 --> 00:00:11,879 Speaker 1: this hour, Mukraine says Russia's assault on the Don Boss 4 00:00:11,920 --> 00:00:14,920 Speaker 1: region is underway. Most major US airlines you're no longer 5 00:00:14,920 --> 00:00:18,400 Speaker 1: requiring mess on domestic flights. A top FED official says 6 00:00:18,400 --> 00:00:20,840 Speaker 1: a seventy five basis point hike may be in play, 7 00:00:21,040 --> 00:00:24,720 Speaker 1: and Netflix, IBM, and Johnson and Johnson all report earnings today. 8 00:00:24,920 --> 00:00:27,080 Speaker 1: New York Mayor Adam says the city is not ready 9 00:00:27,160 --> 00:00:29,640 Speaker 1: yet to bring back into or mask mandates. Plus there's 10 00:00:29,680 --> 00:00:31,720 Speaker 1: a rise in migrants attempted to cross in the US 11 00:00:31,840 --> 00:00:34,960 Speaker 1: Mexico border. I'm Michael bar more ahead, I'm done finished 12 00:00:34,960 --> 00:00:37,000 Speaker 1: our sports. Yankees are in Detroit, that I'd met them, 13 00:00:37,040 --> 00:00:39,240 Speaker 1: a double head with the Giants, NBA playoff wins for 14 00:00:39,320 --> 00:00:43,720 Speaker 1: Philaelpia Dallas and Golden Speed. That's all straight ahead on 15 00:00:43,880 --> 00:00:49,600 Speaker 1: Bloomberg day Break on Bloomberg eleven, FREEO, New York, Bloomberg one, Washington, 16 00:00:49,760 --> 00:00:53,840 Speaker 1: d C, Bloomberg one O six one, Boston, Bloomberg nine sixties, 17 00:00:53,880 --> 00:00:58,240 Speaker 1: San Francisco, Sirius x M one nineteen and around the world. 18 00:00:58,280 --> 00:01:01,800 Speaker 1: On Bloomberg Radio dot com via the Bloomberg Business At 19 00:01:08,440 --> 00:01:11,399 Speaker 1: and good morning. I'm Karen Moscow, I'm Nathan Hagar. Bloomberg 20 00:01:11,440 --> 00:01:13,800 Speaker 1: Daybreak is brought to you by I b KR Investment 21 00:01:13,800 --> 00:01:17,200 Speaker 1: Advisors switched to Interactive Brokers for lowest cost global trading 22 00:01:17,200 --> 00:01:20,440 Speaker 1: and turnkey custody solutions, no ticket charges and no conflicts 23 00:01:20,440 --> 00:01:23,040 Speaker 1: of your interests at i b k R dot com 24 00:01:23,080 --> 00:01:26,679 Speaker 1: slash r i A and US futures are lower this 25 00:01:26,800 --> 00:01:28,680 Speaker 1: morning at six so one on Wall Street, and we 26 00:01:28,800 --> 00:01:31,200 Speaker 1: checked the markets every fifteen minutes throughout the trading day. 27 00:01:31,240 --> 00:01:33,479 Speaker 1: On Bloomberg S and P Future is down about ten 28 00:01:33,520 --> 00:01:36,360 Speaker 1: points down. Future is down fifty one. Now's day, Future 29 00:01:36,440 --> 00:01:39,760 Speaker 1: is down forty four. Ten year Treasury down eight thirty seconds, 30 00:01:39,760 --> 00:01:42,200 Speaker 1: held two point eight eight percent yield on the two 31 00:01:42,280 --> 00:01:45,399 Speaker 1: year two point four or five percent. Nathan, all right, Karen, 32 00:01:45,440 --> 00:01:47,240 Speaker 1: we'll have more on the markets in a minute. First, 33 00:01:47,319 --> 00:01:50,559 Speaker 1: the latest on the war. Russia's assault on Ukraine's don 34 00:01:50,600 --> 00:01:55,000 Speaker 1: Boss region has begun. Ukrainian President Vladimir Selinsky says they 35 00:01:55,000 --> 00:01:57,720 Speaker 1: will not give up without a fight. Amy Morris has 36 00:01:57,760 --> 00:02:02,080 Speaker 1: the latest from our Bloomberg newsroom in Washington. Zelinsky said 37 00:02:02,120 --> 00:02:04,720 Speaker 1: Russian forces have launched a new campaign to conquer the 38 00:02:04,800 --> 00:02:08,720 Speaker 1: dun Boss region in the east of Ukraine. A significant 39 00:02:08,760 --> 00:02:11,400 Speaker 1: part of the entire Russian army is now concentrated on 40 00:02:11,480 --> 00:02:14,720 Speaker 1: this offensive. No matter how many Russian troops are driven there, 41 00:02:14,960 --> 00:02:17,960 Speaker 1: we will fight. Meanwhile, the US military will start training 42 00:02:18,040 --> 00:02:21,040 Speaker 1: Ukrainian troops on how to operate the howitzers that the 43 00:02:21,120 --> 00:02:25,080 Speaker 1: US is sending Ukraine. Pentagon spokesman John Kirby that training 44 00:02:25,080 --> 00:02:28,399 Speaker 1: will occur outside of Ukraine and then they we reintroduced 45 00:02:28,400 --> 00:02:30,840 Speaker 1: back into their country to train their colleagues. This as 46 00:02:30,880 --> 00:02:34,640 Speaker 1: the remaining defenders of Mariople are surrounded by Kremlin forces, 47 00:02:34,639 --> 00:02:38,120 Speaker 1: but they have not surrendered that key port city in Washington. 48 00:02:38,200 --> 00:02:41,360 Speaker 1: I'm Amy Morris Bloomberg Daybreak, Amy, thank you all. President 49 00:02:41,440 --> 00:02:44,400 Speaker 1: Joe Biden will hold a call with key allies later 50 00:02:44,440 --> 00:02:47,519 Speaker 1: today to discuss Ukraine. Meanwhile, the US has backed off 51 00:02:47,560 --> 00:02:50,880 Speaker 1: any suggestion that its officials would boycott Group of Twenty 52 00:02:50,960 --> 00:02:54,120 Speaker 1: meetings this week if Russia takes part. The Treasury Department 53 00:02:54,160 --> 00:02:58,320 Speaker 1: says Secretary Jannet Yellen will participate in some sessions this week. Well. 54 00:02:58,360 --> 00:03:00,160 Speaker 1: The war has in part lad the World Bank to 55 00:03:00,200 --> 00:03:03,880 Speaker 1: cut its economic outlook Karen, and the Bank's chief economist 56 00:03:03,919 --> 00:03:07,080 Speaker 1: Carmen Reinhardt, added she would not rule out further downgrades. 57 00:03:07,360 --> 00:03:10,240 Speaker 1: In an interview with Bloomberg, Reinhart laid out the downside 58 00:03:10,320 --> 00:03:14,919 Speaker 1: risks facing the global economy, array of disruptions from China's 59 00:03:14,960 --> 00:03:20,079 Speaker 1: new lockdowns, from the impacts UH yet to be fully 60 00:03:20,200 --> 00:03:25,600 Speaker 1: felt of the Russia Ukraine war on on food prices, 61 00:03:25,680 --> 00:03:30,720 Speaker 1: on global supply chains, and if you know, bad came 62 00:03:30,760 --> 00:03:34,720 Speaker 1: to worse, UH, could there be another episode of financial contagion? 63 00:03:35,600 --> 00:03:38,240 Speaker 1: The World Banks chief economist Carmen Reinhardt says growth will 64 00:03:38,240 --> 00:03:40,800 Speaker 1: slow to three point two percent. That's down from a 65 00:03:40,880 --> 00:03:45,560 Speaker 1: January prediction of four. Meanwhile, Nathan St. Louis FED President 66 00:03:45,640 --> 00:03:48,480 Speaker 1: James Bullard said the FED needs to move quickly to 67 00:03:48,560 --> 00:03:50,920 Speaker 1: raise rates to around three and a half percent this year, 68 00:03:50,920 --> 00:03:53,200 Speaker 1: and he also says the Central Bank should not rule 69 00:03:53,240 --> 00:03:56,520 Speaker 1: out rate increases of seventy five basis points to find inflation. 70 00:03:56,800 --> 00:04:03,360 Speaker 1: I would point out that UH cycle UH where we 71 00:04:03,440 --> 00:04:06,640 Speaker 1: raised the policy rate three basis points in the year, 72 00:04:07,240 --> 00:04:09,880 Speaker 1: and in that cycle, UH there was a si many 73 00:04:09,920 --> 00:04:13,280 Speaker 1: five basis points UH increase at one point UM, so 74 00:04:13,320 --> 00:04:15,560 Speaker 1: I wouldn't rule it out, but it's not my base 75 00:04:15,680 --> 00:04:18,800 Speaker 1: case here. Seeing the West. FED President James Bullard also 76 00:04:18,880 --> 00:04:21,760 Speaker 1: said that talks of the US recession, it's premature. Well 77 00:04:21,800 --> 00:04:24,680 Speaker 1: Bullard tnk is comments may be piling on to weakness 78 00:04:24,720 --> 00:04:28,200 Speaker 1: for a traditional haven currency. The Japanese yen is weaker 79 00:04:28,240 --> 00:04:31,520 Speaker 1: against the dollar for a thirteenth straight day. It's extending 80 00:04:31,560 --> 00:04:34,120 Speaker 1: its longest losing streak in at least a half century. 81 00:04:34,240 --> 00:04:38,080 Speaker 1: Right now the ends trading at point three five against 82 00:04:38,080 --> 00:04:40,640 Speaker 1: the dollar. Now to the latest on the pandemic Nathan 83 00:04:40,680 --> 00:04:43,520 Speaker 1: and a major development in the air, the Transportation Security 84 00:04:43,520 --> 00:04:46,920 Speaker 1: Administration saying it will no longer enforce the COVID mask 85 00:04:47,000 --> 00:04:50,640 Speaker 1: mandate on public transportation, Bloomberg said Baxter has the story 86 00:04:51,040 --> 00:04:53,719 Speaker 1: this after a Florida judge struck down the remainder of 87 00:04:53,720 --> 00:04:56,880 Speaker 1: the mandate, saying the CDC went too far. The t 88 00:04:57,120 --> 00:04:59,120 Speaker 1: s A says for now it will not enforce the 89 00:04:59,200 --> 00:05:02,799 Speaker 1: masking bandate. White House Folks Women Jimsaki says the ruling 90 00:05:02,839 --> 00:05:05,400 Speaker 1: is disappointing. We also think the mask commandate should be 91 00:05:05,440 --> 00:05:08,159 Speaker 1: in place and that it's safer for individuals for flying 92 00:05:08,200 --> 00:05:11,120 Speaker 1: to continue to wear masks. So the major US air 93 00:05:11,160 --> 00:05:14,040 Speaker 1: carriers have now made masking optional for the time being, 94 00:05:14,120 --> 00:05:18,320 Speaker 1: Delta United Southwest Alaska American. Some of the international flights 95 00:05:18,320 --> 00:05:21,760 Speaker 1: will continue to have the mandate for now. In San Francisco, 96 00:05:21,760 --> 00:05:24,159 Speaker 1: I'm at Baxter Bloomberg, Gay Break all Right and thank you. 97 00:05:24,160 --> 00:05:26,800 Speaker 1: And Uber also announced this morning that It's riders and 98 00:05:26,920 --> 00:05:29,960 Speaker 1: drivers will no longer be required to wear masks. Turning 99 00:05:29,960 --> 00:05:32,000 Speaker 1: new corporate earnings this morning, we hear from more than 100 00:05:32,040 --> 00:05:34,760 Speaker 1: a dozen companies in the SMP five hundred today. They 101 00:05:34,800 --> 00:05:38,160 Speaker 1: include IBM, Johnson and Johnson, and Netflix. Here with the 102 00:05:38,200 --> 00:05:41,920 Speaker 1: Netflix preview is Bloomberg's Tom Busby. Shares of the streaming 103 00:05:42,000 --> 00:05:44,880 Speaker 1: leader have taken a real beating since its last earnings 104 00:05:44,920 --> 00:05:47,839 Speaker 1: report in January, down about thirty three percent. That follows 105 00:05:47,839 --> 00:05:51,680 Speaker 1: a disappointing outlook for subscriber growth amid a flood of competition, 106 00:05:52,040 --> 00:05:54,919 Speaker 1: but key to its first quarter results out later today, 107 00:05:54,960 --> 00:05:58,000 Speaker 1: the impact of a recent price increase and the suspension 108 00:05:58,000 --> 00:06:00,680 Speaker 1: of service in Russia, and both could have a negative 109 00:06:00,680 --> 00:06:03,960 Speaker 1: impact on results. Still, forecast call for two point eight 110 00:06:03,960 --> 00:06:06,800 Speaker 1: million subscriber ads for a total of nearly two hundred 111 00:06:06,839 --> 00:06:09,960 Speaker 1: twenty five million worldwide, look for earnings per share of 112 00:06:10,000 --> 00:06:13,839 Speaker 1: two dollars cents and revenue of seven point nine five 113 00:06:13,920 --> 00:06:17,560 Speaker 1: billion dollars. Tom Busby Bloomberg Daybreak, All right, Tom, thank 114 00:06:17,600 --> 00:06:20,039 Speaker 1: you all new developments this morning. And Elon Musk forty 115 00:06:20,080 --> 00:06:22,279 Speaker 1: three billion dollar pursuit of Twitter, and we get the 116 00:06:22,320 --> 00:06:24,960 Speaker 1: latest line from Bloomberg's Ready too Young, good morning, Ready 117 00:06:24,960 --> 00:06:28,479 Speaker 1: to Good morning, Karen Bloomberg. Sources say Apollo Global Management 118 00:06:28,560 --> 00:06:31,760 Speaker 1: is considering backing a potential deal for Twitter and could 119 00:06:31,800 --> 00:06:35,240 Speaker 1: provide Elon Musk or another bidder like private equity firm 120 00:06:35,279 --> 00:06:38,640 Speaker 1: Toma Bravo, with equity or debt to support an offer. 121 00:06:38,960 --> 00:06:41,520 Speaker 1: The participation could come in the form of credit or 122 00:06:41,560 --> 00:06:45,360 Speaker 1: preferred equity. Of filing from last week shows Morgan Stanley 123 00:06:45,440 --> 00:06:48,919 Speaker 1: is advising Musk and his unsolicited offer to take Twitter private. 124 00:06:49,240 --> 00:06:51,920 Speaker 1: Twitter is enlisting the help of Goldman Sachs and JP 125 00:06:52,040 --> 00:06:55,760 Speaker 1: Borgan Chase to respond to Musk's hostile bid Live in 126 00:06:55,800 --> 00:06:58,799 Speaker 1: New York. I'm Ranita Young Bloomberg day Break, Nita, Thanks, 127 00:06:58,800 --> 00:07:02,119 Speaker 1: and the bullish stock call. Musk's current company, Tesla Cathy 128 00:07:02,200 --> 00:07:05,120 Speaker 1: Woods Our Investment Management now expects shares of the electric 129 00:07:05,120 --> 00:07:07,960 Speaker 1: car maker to more than quadruple to forty six hundred 130 00:07:08,000 --> 00:07:11,480 Speaker 1: dollars by six would has long been an ardent supporter 131 00:07:11,560 --> 00:07:14,280 Speaker 1: of Tesla. Andy elon Musk. Tesla is the largest holding 132 00:07:14,360 --> 00:07:18,440 Speaker 1: in Woods flagship our Connovation et F. You're listening to 133 00:07:18,520 --> 00:07:24,520 Speaker 1: Bloomberg Daybreak and it's now six o seven on Wall 134 00:07:24,560 --> 00:07:26,760 Speaker 1: Street forty one degrees in Central Park. We have an 135 00:07:26,760 --> 00:07:29,880 Speaker 1: accident on the inbound upper level of the George Washington Bridge. 136 00:07:29,920 --> 00:07:32,760 Speaker 1: Details coming up in traffic. First Michael Barr with what 137 00:07:32,840 --> 00:07:34,760 Speaker 1: else is going on in New York and around the world. 138 00:07:34,800 --> 00:07:37,720 Speaker 1: Good morning, Michael, Good morning Nathan. Now, then an indoor 139 00:07:37,760 --> 00:07:41,200 Speaker 1: mask mandate is back in place in Philadelphia. Will New 140 00:07:41,280 --> 00:07:44,520 Speaker 1: York City do the same? Cope nineteen case numbers arising 141 00:07:44,520 --> 00:07:48,360 Speaker 1: in several cities. Mayor Eric Adams, who had been quarantining 142 00:07:48,480 --> 00:07:51,800 Speaker 1: due to having the virus, was asked about mask rules 143 00:07:51,800 --> 00:07:55,800 Speaker 1: in the city. We are advising New Yorker is uh 144 00:07:55,840 --> 00:07:58,120 Speaker 1: to wear a mask, but we're not at the point 145 00:07:58,160 --> 00:08:04,040 Speaker 1: of mandate right now. We hospitalizations at a steady level, 146 00:08:04,600 --> 00:08:07,800 Speaker 1: death side of steady level. Mayor Adams says, we are 147 00:08:07,920 --> 00:08:11,920 Speaker 1: encouraging New Yorkers to wear the mask if you feel uncomfortable. 148 00:08:12,280 --> 00:08:15,000 Speaker 1: The Supreme Court is declining to wait into a lawsuit 149 00:08:15,080 --> 00:08:18,440 Speaker 1: filed by four New York City public school employees. It's 150 00:08:18,480 --> 00:08:21,960 Speaker 1: over a policy that they'd be vaccinated against COVID. Nineteen 151 00:08:22,640 --> 00:08:25,960 Speaker 1: judge has ruled Amazon must reinstate a former employee who 152 00:08:26,000 --> 00:08:28,800 Speaker 1: was fired in the early days of the pandemic after 153 00:08:28,920 --> 00:08:31,720 Speaker 1: leading a protest in Staaten Island calling for the company 154 00:08:31,760 --> 00:08:35,560 Speaker 1: to do more to protect workers against COVID. The judge 155 00:08:35,640 --> 00:08:39,240 Speaker 1: ruled that Amazon must offer the former worker, Gerald Bryson, 156 00:08:39,600 --> 00:08:42,679 Speaker 1: his job back, as well as lost wages and benefits. 157 00:08:43,120 --> 00:08:46,079 Speaker 1: The Biden administration is pledging not to litter in space. 158 00:08:46,600 --> 00:08:49,600 Speaker 1: Vice President Harris said the US would no longer engage 159 00:08:49,600 --> 00:08:53,520 Speaker 1: in anti satellite missile testing in space. Harris explained the 160 00:08:53,559 --> 00:08:57,040 Speaker 1: testing causes to breed and it's dangerous to research and 161 00:08:57,080 --> 00:09:01,679 Speaker 1: facilities like the International Space Station. A piece of space 162 00:09:01,800 --> 00:09:07,320 Speaker 1: debris the size of a basketball, which travels at thousands 163 00:09:07,320 --> 00:09:12,880 Speaker 1: of miles per hour, would destroy a satellite. Even a 164 00:09:13,080 --> 00:09:16,720 Speaker 1: piece of debris as small as a grain of sand 165 00:09:17,760 --> 00:09:22,640 Speaker 1: could cause serious damage. Vice President Harris says we are 166 00:09:22,720 --> 00:09:25,400 Speaker 1: the first nation to make such a commitment and called 167 00:09:25,440 --> 00:09:28,600 Speaker 1: on other nations to follow. The number of migrants attempting 168 00:09:28,600 --> 00:09:32,120 Speaker 1: to cross the US Mexico border has surged in recent weeks. 169 00:09:32,160 --> 00:09:35,360 Speaker 1: It comes as the US prepares for even larger numbers 170 00:09:35,360 --> 00:09:38,679 Speaker 1: with the expected lifting of a pandemic era order that 171 00:09:38,720 --> 00:09:42,959 Speaker 1: turned away asylum seekers. Immigration authorities stopped migrants more than 172 00:09:42,960 --> 00:09:46,960 Speaker 1: two d one thousand times along the southwest border in March, 173 00:09:47,080 --> 00:09:50,240 Speaker 1: the highest in nearly two decades. Global News twenty four 174 00:09:50,280 --> 00:09:52,560 Speaker 1: hours a day on here and on Bloomberg quick Take, 175 00:09:52,840 --> 00:09:55,839 Speaker 1: powered by more than twenty seven hundred journalists and analysts 176 00:09:55,840 --> 00:09:58,160 Speaker 1: in more than a hundred twenty countries. I'm Michael bar 177 00:09:58,320 --> 00:10:05,400 Speaker 1: This is Bloomberg, Nathan. Thank you, Michael don't know. To 178 00:10:05,440 --> 00:10:07,440 Speaker 1: six ten on Wall Street. Time for the Bloomberg Sports 179 00:10:07,520 --> 00:10:09,719 Speaker 1: Update with John Steenshaw. All right, Nathan. First of the 180 00:10:09,760 --> 00:10:12,559 Speaker 1: game tunes first round of the NBA Playoffs in Philadelphia 181 00:10:12,640 --> 00:10:15,640 Speaker 1: six or second straight rout of Toronto. On ninety seven, 182 00:10:15,720 --> 00:10:18,439 Speaker 1: Joe l MB scored thirty one in Dallas. The MAVs 183 00:10:18,480 --> 00:10:21,760 Speaker 1: were again without their star Luka Dontcheon, but Jalen Brunson 184 00:10:21,840 --> 00:10:24,199 Speaker 1: poured in a career high forty one points one ten 185 00:10:24,240 --> 00:10:26,920 Speaker 1: one oh four over Utah to tie that series of one. 186 00:10:26,960 --> 00:10:29,880 Speaker 1: Golden State Fights twenty over Denverse Steph Curry off the 187 00:10:29,960 --> 00:10:32,800 Speaker 1: bench to score thirty four points in just twenty three minutes, 188 00:10:33,080 --> 00:10:35,600 Speaker 1: and the Warriors go up to zip the Celtics. Mark 189 00:10:35,760 --> 00:10:38,520 Speaker 1: Is Smart named Defensive Player of the Year, first guard 190 00:10:38,640 --> 00:10:42,080 Speaker 1: to win the awards, and Gary Peyton six and Peyton, 191 00:10:42,120 --> 00:10:45,160 Speaker 1: the Hall of Famer, went to Celtics practice in Boston 192 00:10:45,200 --> 00:10:47,959 Speaker 1: to tell Smart he had won Celtics Nets Game two 193 00:10:48,080 --> 00:10:51,640 Speaker 1: tomorrow in Boston. Rangers are the Winnipeg Jets tonight that 194 00:10:51,720 --> 00:10:54,160 Speaker 1: they guard in Carolina. Won last night to the Keynes 195 00:10:54,600 --> 00:10:56,880 Speaker 1: lead the Rangers by two points as they battle to 196 00:10:56,880 --> 00:11:00,319 Speaker 1: win the Metropolitan Division. Mets and Giants reined out single 197 00:11:00,360 --> 00:11:03,960 Speaker 1: admission doubleheader starts just after three o'clock. Tyler McGill yet 198 00:11:04,040 --> 00:11:06,240 Speaker 1: to allow a run and two starts. Goes in the 199 00:11:06,320 --> 00:11:09,160 Speaker 1: opener and Max scherz Or pitches the nightcap his first 200 00:11:09,240 --> 00:11:12,280 Speaker 1: met start at City Field. Garrett Cole for the Yankees 201 00:11:12,360 --> 00:11:16,120 Speaker 1: tonight in Detroit. Jake Carrietta, retiring at age thirty six, 202 00:11:16,200 --> 00:11:19,120 Speaker 1: struggled in recent years. Arietta won the National League Cy 203 00:11:19,240 --> 00:11:22,000 Speaker 1: Young Award back in two thousand fifteen while with the Cubs. 204 00:11:22,280 --> 00:11:24,840 Speaker 1: NFL Draft starts a week from Thursday in Las Vegas 205 00:11:24,880 --> 00:11:27,400 Speaker 1: been a lot of quarterback movement this offseason. Could be 206 00:11:27,480 --> 00:11:30,559 Speaker 1: another move before the draft of Carolina still looking for 207 00:11:30,600 --> 00:11:32,960 Speaker 1: a QB and said to be trying to acquire Baker 208 00:11:33,080 --> 00:11:37,600 Speaker 1: Mayfield from Cleveland Browns Evenue QB Deshaun Watson. Speaking of quarterbacks, 209 00:11:37,640 --> 00:11:40,480 Speaker 1: the latest edition of Made for TV Golf would be 210 00:11:40,600 --> 00:11:43,560 Speaker 1: June one in Las Vegas. Tom Brady and Aaron Rodgers 211 00:11:43,840 --> 00:11:47,480 Speaker 1: versus Patrick Mahomes and Josh Allen, John Stash Howard Bloomberg 212 00:11:47,480 --> 00:11:50,480 Speaker 1: Sports Nathan Okay, John, thank you. SMP future is now 213 00:11:50,600 --> 00:11:54,440 Speaker 1: down thirteen points, Stout futures down seventy six, DANSAC futures 214 00:11:54,480 --> 00:11:57,240 Speaker 1: lower by sixty four points. The tenure treasury is down 215 00:11:57,360 --> 00:12:00,600 Speaker 1: nine thirty seconds. The yield very close to two point 216 00:12:00,679 --> 00:12:08,360 Speaker 1: eight nine percent. This is Bloomberg Bloomberg eleven three or 217 00:12:08,360 --> 00:12:10,640 Speaker 1: whether cill under floodwatch till late this morning. It'll turn 218 00:12:10,720 --> 00:12:14,000 Speaker 1: mostly sunny this afternoon, breezy, mid fifties for highs upper 219 00:12:14,040 --> 00:12:17,680 Speaker 1: fifties tomorrow. Clouds returned Thursday with highs in the low sixties. 220 00:12:17,760 --> 00:12:24,120 Speaker 1: Right now forty one in Central Park Markets. Headlines and 221 00:12:24,280 --> 00:12:27,280 Speaker 1: breaking news twenty four hours a day at Bloomberg dot 222 00:12:27,320 --> 00:12:30,440 Speaker 1: Com the Bloomberg Business at and at Bloomberg quick Take, 223 00:12:30,679 --> 00:12:40,000 Speaker 1: This is a Bloomberg business flash and I'm Karin Moscow. 224 00:12:40,120 --> 00:12:43,520 Speaker 1: You west Dock Index futures are lower along with European shares, 225 00:12:43,559 --> 00:12:46,120 Speaker 1: while bonds around the globe slump as investors way the 226 00:12:46,200 --> 00:12:49,640 Speaker 1: prospect of aggressive policy action to curb inflation. We checked 227 00:12:49,640 --> 00:12:52,240 Speaker 1: the markets every fifteen minutes throughout the trading day on 228 00:12:52,320 --> 00:12:54,800 Speaker 1: Bloomberg s and P future is down about nine points 229 00:12:54,840 --> 00:12:57,880 Speaker 1: and down futures down thirty eight, NASTAG futures down forty two. 230 00:12:58,320 --> 00:13:00,880 Speaker 1: The decks in Germany's down one percent. The ten year 231 00:13:00,920 --> 00:13:03,920 Speaker 1: treasury down eight thirty seconds, yield two point eight eight percent, 232 00:13:04,360 --> 00:13:06,880 Speaker 1: yield on the two year two point four six percent. 233 00:13:07,320 --> 00:13:09,679 Speaker 1: Nine x Screwed oil is down one point six percent 234 00:13:09,760 --> 00:13:12,000 Speaker 1: on a dollar seventy three and a hundred six dollars 235 00:13:12,040 --> 00:13:14,640 Speaker 1: forty eight cents of barrel comics gold is down four 236 00:13:14,720 --> 00:13:17,439 Speaker 1: ten percent or eight dollars thirty cents in nineteen seventy 237 00:13:17,520 --> 00:13:20,040 Speaker 1: eight an ounce, the euro one point oh seven nine 238 00:13:20,080 --> 00:13:22,440 Speaker 1: one against the dollar, British found one point three zero 239 00:13:22,520 --> 00:13:25,120 Speaker 1: one eight and the en one eight point three two 240 00:13:25,440 --> 00:13:28,440 Speaker 1: and bitcoin this morning it's now higher up a tenth 241 00:13:28,480 --> 00:13:31,880 Speaker 1: of a percent at forty thousand, seven hundred twenty dollars. 242 00:13:32,200 --> 00:13:34,240 Speaker 1: And today we are getting reports on housing starts, in 243 00:13:34,280 --> 00:13:36,720 Speaker 1: building permits at eight thirty Wall Street Time and Netflix 244 00:13:36,760 --> 00:13:40,120 Speaker 1: among companies scheduled to report earnings today. That's a Bloomberg 245 00:13:40,200 --> 00:13:42,800 Speaker 1: business flash. Now here's Michael bar with Moore on what's 246 00:13:42,840 --> 00:13:45,640 Speaker 1: going on around the world. Michael Karen, thank you very much. 247 00:13:45,679 --> 00:13:49,480 Speaker 1: After days of regrouping and reinforcing, the Russian military began 248 00:13:49,520 --> 00:13:52,439 Speaker 1: a new phase of the war in Ukraine. Training and 249 00:13:52,520 --> 00:13:55,520 Speaker 1: officials said that the Kremlin's forces launched a full scale 250 00:13:55,600 --> 00:13:59,040 Speaker 1: ground offensive to take control of the country's industrial heart 251 00:13:59,120 --> 00:14:02,320 Speaker 1: land and down the screen agent. Most major US airlines 252 00:14:02,320 --> 00:14:05,240 Speaker 1: are no longer requiring travelers or employees to wear face 253 00:14:05,360 --> 00:14:09,720 Speaker 1: coverings on domestic and some international flights. The decisions came 254 00:14:09,880 --> 00:14:13,320 Speaker 1: after a US judge overturned the federal mandate for passengers 255 00:14:13,400 --> 00:14:16,720 Speaker 1: to cover their faces. In MLB, the Red Sox lost 256 00:14:16,800 --> 00:14:20,680 Speaker 1: the A's Meat the Orioles five one. In the NBA Playoffs, 257 00:14:20,720 --> 00:14:22,840 Speaker 1: The Warriors beat the Duggets to leave the series two 258 00:14:22,880 --> 00:14:26,320 Speaker 1: games to zip. In the NHL, the Devil's and Capitals one. 259 00:14:26,720 --> 00:14:29,160 Speaker 1: Global News twenty four hours a day on air and 260 00:14:29,360 --> 00:14:32,320 Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven 261 00:14:32,400 --> 00:14:35,000 Speaker 1: hundred journalists and lest more than a hundred twenty countries. 262 00:14:35,400 --> 00:14:38,880 Speaker 1: Michael Barren, this is Bloomberg. Nay, Okay, Michael, thank you. 263 00:14:38,960 --> 00:14:41,320 Speaker 1: It is six nineteen on Wall Street Live from the 264 00:14:41,360 --> 00:14:45,320 Speaker 1: Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak. We're really 265 00:14:45,360 --> 00:14:47,600 Speaker 1: pleased to be speaking this morning with liz Anne Saunders, 266 00:14:47,720 --> 00:14:50,920 Speaker 1: chief investment strategist at Charles Schwab. Great to have you 267 00:14:51,000 --> 00:14:53,360 Speaker 1: on with us this morning, Liz, and and obviously a 268 00:14:53,440 --> 00:14:55,960 Speaker 1: lot of attention this morning on the comments we heard 269 00:14:56,080 --> 00:14:59,280 Speaker 1: yesterday from the President of the St. Louis Fed, James Bullard, 270 00:14:59,320 --> 00:15:01,960 Speaker 1: obviously a very a vocal hawk, but he's saying, seventy 271 00:15:02,000 --> 00:15:05,000 Speaker 1: five basis points, you can't rule it out next month. 272 00:15:05,600 --> 00:15:09,440 Speaker 1: Is that talk to you? Pay attention to? Um? Yeah, 273 00:15:09,600 --> 00:15:11,880 Speaker 1: I think you know. This parlor game that's been going 274 00:15:11,960 --> 00:15:14,480 Speaker 1: on of how many rate hikes to expect the full year, 275 00:15:14,760 --> 00:15:17,720 Speaker 1: I think miss is what the Fed is attempting to do, 276 00:15:17,880 --> 00:15:21,160 Speaker 1: which is front end load many of these rate hikes. Now, 277 00:15:21,160 --> 00:15:24,440 Speaker 1: whether it's seventy five or not, that that I think 278 00:15:24,520 --> 00:15:26,560 Speaker 1: that's a little bit bold. I don't. I don't do 279 00:15:26,760 --> 00:15:29,440 Speaker 1: that as a prediction or forecast on his part. I 280 00:15:29,560 --> 00:15:31,760 Speaker 1: think fifty is still the base case, but it's probably 281 00:15:31,800 --> 00:15:36,480 Speaker 1: gonna be fifty at at least two or three meetings, 282 00:15:36,560 --> 00:15:38,840 Speaker 1: so that they can get closer to the neutral rate 283 00:15:39,080 --> 00:15:41,120 Speaker 1: in UH in a shorter amount of time, which may 284 00:15:41,200 --> 00:15:43,000 Speaker 1: give them some breathing room to not have to be 285 00:15:43,080 --> 00:15:46,240 Speaker 1: as aggressive towards the end of the year. But we'll see. Now, 286 00:15:46,280 --> 00:15:48,200 Speaker 1: if we do see that kind of front end loading 287 00:15:48,280 --> 00:15:52,160 Speaker 1: by the FED, those that kind of aggressive move successively, 288 00:15:52,400 --> 00:15:56,280 Speaker 1: how does that affect your strategy in this market? Well, uh, 289 00:15:56,680 --> 00:16:00,600 Speaker 1: you know what the confirmation hearing that all had I 290 00:16:00,680 --> 00:16:03,560 Speaker 1: think one of the more interesting things that happened was 291 00:16:03,720 --> 00:16:07,720 Speaker 1: when Richard Shelby asked him whether he'd be willing to 292 00:16:07,840 --> 00:16:12,280 Speaker 1: accept a recession as Volker did in order to um 293 00:16:12,720 --> 00:16:16,880 Speaker 1: sort bring down inflation, and he paused and said, very thoughtfully, 294 00:16:16,960 --> 00:16:19,120 Speaker 1: I think the history will show that the answer to 295 00:16:19,200 --> 00:16:21,600 Speaker 1: that question is yes. Now, I don't think that means 296 00:16:21,680 --> 00:16:25,040 Speaker 1: FETE officials are gunning for a recession, but that may 297 00:16:25,680 --> 00:16:28,000 Speaker 1: be what it takes in order to reign in aggregate 298 00:16:28,080 --> 00:16:31,840 Speaker 1: demand sufficient enough to bring inflation down, given that they 299 00:16:32,280 --> 00:16:36,080 Speaker 1: obviously can't directly target food or energy prices as it 300 00:16:36,160 --> 00:16:39,840 Speaker 1: ties into the Iraq war. They can't ramp up semiconductor production, 301 00:16:40,520 --> 00:16:44,320 Speaker 1: but they can ease aggregate demand. And they're starting this 302 00:16:44,640 --> 00:16:48,760 Speaker 1: this process of more aggressive rate hikes with growth already slowing. 303 00:16:48,920 --> 00:16:51,200 Speaker 1: It's you know, Atlanta Fete is accurate. We're only at 304 00:16:51,240 --> 00:16:54,760 Speaker 1: one in the first quarter. Battling a forty year high 305 00:16:54,800 --> 00:16:58,600 Speaker 1: in inflation while you're at sub two percent growth. Is 306 00:16:58,760 --> 00:17:02,280 Speaker 1: a very unique set of socumstances. I think investors have 307 00:17:02,480 --> 00:17:07,920 Speaker 1: to be somewhat cautious. UM adopt the disciplines around diversification 308 00:17:08,640 --> 00:17:13,520 Speaker 1: and rebalancing, and UM that's where we are. How do 309 00:17:13,720 --> 00:17:17,480 Speaker 1: you rebalance? Do you look at different sectors, do you 310 00:17:17,520 --> 00:17:21,840 Speaker 1: look at different styles? What's the strategy? Well, rebalancing obviously 311 00:17:21,880 --> 00:17:24,440 Speaker 1: you're letting your portfolio tell you what to do. In 312 00:17:24,560 --> 00:17:26,840 Speaker 1: that asset classes move in and out of favor, and 313 00:17:26,920 --> 00:17:31,080 Speaker 1: they therefore adjust relative to your strategic allocations. So one 314 00:17:31,080 --> 00:17:33,960 Speaker 1: of the things we've been suggesting is if you are 315 00:17:34,720 --> 00:17:37,680 Speaker 1: typically if you're rebalancing, is done either by an advisor 316 00:17:37,720 --> 00:17:40,680 Speaker 1: or yourself on a calendar basis, meaning you might rebalance 317 00:17:40,720 --> 00:17:42,720 Speaker 1: on a quarterly basis at the end of the year, 318 00:17:43,320 --> 00:17:47,199 Speaker 1: consider having it be more portfolio based, volatility base, take 319 00:17:47,240 --> 00:17:51,400 Speaker 1: advantage of volatility, maybe up the pace of rebalancing. We've 320 00:17:51,480 --> 00:17:57,119 Speaker 1: also adopted, uh about six weeks ago sector neutrality, feeling 321 00:17:57,200 --> 00:18:00,600 Speaker 1: like trying to sort of play a short term sector 322 00:18:00,680 --> 00:18:03,320 Speaker 1: game is going to be a bit trickier. What has 323 00:18:03,359 --> 00:18:07,719 Speaker 1: been more consistent is factor based investing, So leadership at 324 00:18:07,760 --> 00:18:10,840 Speaker 1: the factor level and I look at the Bloomberg factors 325 00:18:10,880 --> 00:18:13,119 Speaker 1: on a day to day basis, that's where there's been 326 00:18:13,160 --> 00:18:15,520 Speaker 1: more consistency. And this is a time in the cycle 327 00:18:16,119 --> 00:18:20,760 Speaker 1: where you absolutely want to focus on quality. Defensive areas 328 00:18:20,760 --> 00:18:22,520 Speaker 1: have been doing well, but there's a way to play 329 00:18:22,680 --> 00:18:26,120 Speaker 1: defense even in segments of the market that are generally 330 00:18:26,280 --> 00:18:30,280 Speaker 1: considered more offensive. You just want to stay focused on 331 00:18:30,400 --> 00:18:35,040 Speaker 1: those quality characteristic strong balance sheets, strong cash flow yield um, 332 00:18:35,240 --> 00:18:39,920 Speaker 1: strong dividend yield, and positive earnings revisions in an environment 333 00:18:40,000 --> 00:18:43,320 Speaker 1: where those are are harder to find these days. Got 334 00:18:43,320 --> 00:18:46,280 Speaker 1: about a minute left here, Lizie, and does an inflation 335 00:18:46,440 --> 00:18:52,520 Speaker 1: fighting fed have an impact on the earnings outlook for corporations? Well, 336 00:18:52,600 --> 00:18:55,240 Speaker 1: we have seen a little bit of a rolling over 337 00:18:55,359 --> 00:18:58,280 Speaker 1: in the forward profit margins. I don't think we'll end 338 00:18:58,920 --> 00:19:02,639 Speaker 1: this season of the serious dent to profit margins, but 339 00:19:02,720 --> 00:19:06,320 Speaker 1: I think that will be the bigger story going forward. Uh. 340 00:19:06,560 --> 00:19:08,800 Speaker 1: You know, a lot of there's a misperception out there 341 00:19:08,880 --> 00:19:12,520 Speaker 1: that a strong pp I is negative for a profit margins. 342 00:19:12,520 --> 00:19:15,800 Speaker 1: Actually more US companies benefit from a higher p p I. 343 00:19:16,359 --> 00:19:20,360 Speaker 1: But the labor cost component is such a large part 344 00:19:20,440 --> 00:19:23,720 Speaker 1: of the input costs that I think the story going 345 00:19:23,840 --> 00:19:27,600 Speaker 1: into next quarter earning season will probably be more about 346 00:19:27,760 --> 00:19:31,000 Speaker 1: a compression coming in profit margins, unless there's an eating 347 00:19:31,560 --> 00:19:34,399 Speaker 1: in some of these labor cost pressures. Thanks for this, Liz, 348 00:19:34,520 --> 00:19:37,080 Speaker 1: and again great having you on with us. Liz Anne Saunders, 349 00:19:37,200 --> 00:19:41,879 Speaker 1: chief investment strategist at Charles Schwab. Looking ahead to this market, 350 00:19:41,920 --> 00:19:45,040 Speaker 1: open futures are moving lower. We have SMP futures down 351 00:19:45,440 --> 00:19:48,280 Speaker 1: almost six points down, down futures down twenty two, NASTAC 352 00:19:48,359 --> 00:19:51,560 Speaker 1: futures lower by twenty seven points. The ten your treasury 353 00:19:51,640 --> 00:19:55,600 Speaker 1: is down eight thirty seconds, the yield two eight percent, 354 00:19:55,760 --> 00:19:58,000 Speaker 1: and the yield on the two year right now two 355 00:19:58,119 --> 00:20:02,320 Speaker 1: point four six per cent. You're listening to Bloomberg Daybreak 356 00:20:07,560 --> 00:20:09,480 Speaker 1: Bloomberg eleventh three oh. Weather is still under the flood 357 00:20:09,520 --> 00:20:11,520 Speaker 1: watch too late this morning. It'll turn mostly sunny and 358 00:20:11,600 --> 00:20:13,760 Speaker 1: breezy this afternoon, with a hind in the mid fifties, 359 00:20:13,960 --> 00:20:17,960 Speaker 1: sunshine upper fifties tomorrow, low sixties, mostly cloudy by Thursday. 360 00:20:18,080 --> 00:20:25,280 Speaker 1: Right now forty degrees. Broadcasting live from the Bloomberg Interactive 361 00:20:25,320 --> 00:20:29,160 Speaker 1: Broker Studio in New York. Bloomberg E Living Freedom to Washington, 362 00:20:29,240 --> 00:20:32,680 Speaker 1: d C, Bloomberg nine one to Boston, Bloomberg one O 363 00:20:32,920 --> 00:20:36,359 Speaker 1: six one to San Francisco, Bloomberg NUN sixty to the country, 364 00:20:36,480 --> 00:20:39,080 Speaker 1: Sirius XM to the one nine team, and around the 365 00:20:39,119 --> 00:20:42,520 Speaker 1: globe the Bloomberg Business app and Bloomberg Radio dot Com. 366 00:20:43,000 --> 00:20:51,960 Speaker 1: This is Bloomberg Daybreak, six thirty on Wall Street. Good morning, 367 00:20:52,000 --> 00:20:54,720 Speaker 1: I'm Nathan Hager and I'm Karen Moscow, and we're just 368 00:20:54,800 --> 00:20:57,200 Speaker 1: about three hours away from the open of US trading. 369 00:20:57,240 --> 00:20:59,040 Speaker 1: It's time for the five things you need to notice 370 00:20:59,080 --> 00:21:02,240 Speaker 1: start your day. Ought to you by Interactive Broker Simple 371 00:21:02,320 --> 00:21:05,400 Speaker 1: ib k are Global Trader app. Deposit in your local 372 00:21:05,480 --> 00:21:07,879 Speaker 1: currency and trade stocks in the US, Europe and Asia. 373 00:21:08,160 --> 00:21:11,120 Speaker 1: Start your free trial at ibkr dot com, Slash Global 374 00:21:11,200 --> 00:21:15,400 Speaker 1: Trader at First, Russia's military shells, Southern and eastern Ukraine 375 00:21:15,520 --> 00:21:19,720 Speaker 1: as its invasion continues. President vladimir's Lensky says Moscow is 376 00:21:19,760 --> 00:21:24,119 Speaker 1: focused on conquering the eastern don Bus region that Russian 377 00:21:24,160 --> 00:21:26,560 Speaker 1: troops begun the battle for the dome Bus for which 378 00:21:26,640 --> 00:21:29,439 Speaker 1: they have been preparing for a long time. A significant 379 00:21:29,480 --> 00:21:32,080 Speaker 1: part of the entire Russian army is now concentrated on 380 00:21:32,200 --> 00:21:36,080 Speaker 1: this offensive. Ukrainian President vladimir's Lensky says his nation will 381 00:21:36,119 --> 00:21:38,840 Speaker 1: continue to defend the region, and US President Joe Biden 382 00:21:38,920 --> 00:21:42,679 Speaker 1: behold a call with key allies today to discuss the war. Meantime, 383 00:21:42,720 --> 00:21:45,400 Speaker 1: car in the US is expected to participate a Group 384 00:21:45,440 --> 00:21:49,040 Speaker 1: of twenty meetings this week even if Russia attends. Treasury 385 00:21:49,080 --> 00:21:52,280 Speaker 1: Secretary Janet Yellen had previously said the US made boycott 386 00:21:52,359 --> 00:21:55,359 Speaker 1: some meetings should Russia participate, but a senior Treasury official 387 00:21:55,400 --> 00:21:57,840 Speaker 1: says Yellen does not want Russia to stop the US 388 00:21:57,920 --> 00:21:59,639 Speaker 1: and allies from the work it needs to do at 389 00:21:59,680 --> 00:22:01,919 Speaker 1: the G twenty. Well admit the fallout from the war, 390 00:22:02,119 --> 00:22:05,560 Speaker 1: Nathan World Bank chief economist Carmen Reinhart tells Bloomberg gets 391 00:22:05,600 --> 00:22:10,879 Speaker 1: cutting it's two economic outlook. Will it be cut again? Certainly? 392 00:22:10,920 --> 00:22:13,879 Speaker 1: Wouldn't rule it out. But the point I'm making is 393 00:22:14,119 --> 00:22:17,680 Speaker 1: we are living a period of receptional and certain World 394 00:22:17,720 --> 00:22:20,879 Speaker 1: Bank Chief economist Carmen Reinhart says it's lowering estimates for 395 00:22:20,920 --> 00:22:23,800 Speaker 1: global growth from a four point one percent in January 396 00:22:23,840 --> 00:22:26,399 Speaker 1: eight to three point two percent and back in the US. 397 00:22:26,520 --> 00:22:29,280 Speaker 1: New guidance on masks from the nation's biggest airlines and 398 00:22:29,640 --> 00:22:32,399 Speaker 1: rides sharing Giant Uber. Let's get the details life from 399 00:22:32,400 --> 00:22:35,000 Speaker 1: Bloomberg's You needed Young, We need a good morning. Good morning, Nathan. 400 00:22:35,119 --> 00:22:38,440 Speaker 1: Most major airlines are dropping mask mandates on domestic and 401 00:22:38,560 --> 00:22:42,240 Speaker 1: some international flights. It comes after a US judge overturns 402 00:22:42,320 --> 00:22:45,919 Speaker 1: of federal mask mandate for passengers, so the five largest 403 00:22:46,080 --> 00:22:48,960 Speaker 1: US carriers say the use of masks will be optional 404 00:22:49,040 --> 00:22:52,240 Speaker 1: for both passengers and staff and just this morning rides 405 00:22:52,280 --> 00:22:55,000 Speaker 1: here Giant Uber says it will no longer require drivers 406 00:22:55,200 --> 00:22:58,199 Speaker 1: or riders to wear masks in the US, but if 407 00:22:58,240 --> 00:23:01,280 Speaker 1: you feel uncomfortable, Uber as you can cancel a ride, 408 00:23:01,560 --> 00:23:04,359 Speaker 1: and asks riders and drivers to be respectful if people 409 00:23:04,480 --> 00:23:08,000 Speaker 1: prefer wearing a mask. Live in New York, I'm Nita Young, 410 00:23:08,040 --> 00:23:10,239 Speaker 1: Bloomberg Day Break a right, Nita, Thank you and tech 411 00:23:10,320 --> 00:23:13,119 Speaker 1: Giant Netflix reporting earnings today. Analysts will look at how 412 00:23:13,160 --> 00:23:15,960 Speaker 1: a recent price increase in suspension of service in Russia 413 00:23:16,000 --> 00:23:19,040 Speaker 1: impacts first quarter results. We did watch earnings from Johnson, 414 00:23:19,119 --> 00:23:22,639 Speaker 1: and Johnson crossed the Bloomberg first quarter profit, beating analysts estimates, 415 00:23:22,720 --> 00:23:25,720 Speaker 1: but it lowered its outlook for the year and said 416 00:23:25,760 --> 00:23:29,879 Speaker 1: it's suspending. It's COVID nineteen vaccine sales guidance. That's the 417 00:23:29,960 --> 00:23:31,960 Speaker 1: five things you need to notice start your day. Brought 418 00:23:32,000 --> 00:23:38,680 Speaker 1: to you by Interactive Brokers, and this is Bloomberg. Thank you. 419 00:23:38,840 --> 00:23:41,560 Speaker 1: Karen six thirty three on Wall Street, forty degrees in 420 00:23:41,760 --> 00:23:44,359 Speaker 1: Central Park and we have got big delays on the 421 00:23:44,440 --> 00:23:47,040 Speaker 1: g w B. Details coming up in traffic. First, Michael 422 00:23:47,040 --> 00:23:48,720 Speaker 1: bar with more on what's going on in New York 423 00:23:48,800 --> 00:23:51,600 Speaker 1: and around the world. Michael, thank you very much. Nathan, 424 00:23:51,880 --> 00:23:55,280 Speaker 1: Will New York City bring back an indoor mask mandate 425 00:23:55,400 --> 00:23:59,240 Speaker 1: like Philadelphia COVID nineteen case numbers are rising and filling 426 00:23:59,280 --> 00:24:02,240 Speaker 1: in other cities. Mayor Eric Adams says New York is 427 00:24:02,280 --> 00:24:05,320 Speaker 1: not at the point of mandating right now. We are 428 00:24:05,440 --> 00:24:08,600 Speaker 1: encouraging New York is, you know, with a mask if 429 00:24:08,640 --> 00:24:11,679 Speaker 1: you feel uncomfortable, if you don't know the satisfy Presson's 430 00:24:11,760 --> 00:24:15,320 Speaker 1: vaccine if yet gatherments. So there is an encouragement we 431 00:24:15,440 --> 00:24:16,920 Speaker 1: put out to New York is we just not have 432 00:24:17,000 --> 00:24:20,840 Speaker 1: to place a mandate right now. Mayor Adams says hospitalizations 433 00:24:20,920 --> 00:24:24,440 Speaker 1: and deaths are at steady levels in the city. U 434 00:24:24,600 --> 00:24:27,480 Speaker 1: S Customs says the number of migrants attempting to cross 435 00:24:27,520 --> 00:24:31,040 Speaker 1: the US Mexico borders surged in recent weeks. It comes 436 00:24:31,119 --> 00:24:33,720 Speaker 1: as the US prepares for even larger numbers with the 437 00:24:33,760 --> 00:24:37,560 Speaker 1: expected lifting of a pandemic era order that turned away 438 00:24:37,560 --> 00:24:41,520 Speaker 1: asylum seekers. Authorities say that there was a thirty four 439 00:24:41,600 --> 00:24:45,000 Speaker 1: percent increase in stop migrants at the Southwest border in 440 00:24:45,119 --> 00:24:48,720 Speaker 1: March compared to the previous month. The US will not 441 00:24:49,000 --> 00:24:52,879 Speaker 1: test some anti satellite weapons in space. The move comes 442 00:24:53,040 --> 00:24:56,480 Speaker 1: as Moscow blew up a dead satellite last November with 443 00:24:56,680 --> 00:25:00,800 Speaker 1: a ground launched missile. Vice President come Alla Harris says 444 00:25:00,880 --> 00:25:04,680 Speaker 1: that space debris could endanger the International Space Station or 445 00:25:04,760 --> 00:25:10,960 Speaker 1: spacecraft debris presents a risk to the safety of our astronauts, 446 00:25:11,600 --> 00:25:17,520 Speaker 1: our satellites, and our growing commercial presence. Vice President Harris 447 00:25:17,600 --> 00:25:21,040 Speaker 1: says fast moving debris the size of a basketball could 448 00:25:21,119 --> 00:25:25,199 Speaker 1: destroy a satellite. The fiancee of former President Donald Trump's 449 00:25:25,280 --> 00:25:28,760 Speaker 1: eldest son, Kimberly Gilfoyle, is said to have met with 450 00:25:28,920 --> 00:25:33,040 Speaker 1: the House Committee yesterday investigating the US Capitol Riot. Lawmakers 451 00:25:33,119 --> 00:25:35,800 Speaker 1: say she raised funds for the rally and was in 452 00:25:35,880 --> 00:25:39,840 Speaker 1: direct contact with its key participants. A lawyer for recently 453 00:25:39,960 --> 00:25:43,880 Speaker 1: resigned New York Lieutenant Governor Brian Benjamin told Manhattan judge 454 00:25:43,960 --> 00:25:48,320 Speaker 1: yesterday that he expects to challenge corruption charges brought against 455 00:25:48,400 --> 00:25:53,120 Speaker 1: Benjamin last week. The charges include bribery, fraud, and conspiracy. 456 00:25:53,520 --> 00:25:56,680 Speaker 1: The Supreme Court has rejected a challenge from New York, 457 00:25:56,920 --> 00:26:00,760 Speaker 1: New Jersey, Connecticut, and Maryland to the twenties seventeen tax 458 00:26:00,880 --> 00:26:04,880 Speaker 1: law that cap federal tax deductions for state and local taxes. 459 00:26:05,320 --> 00:26:08,560 Speaker 1: The stud argued that the Republican led tax law, signed 460 00:26:08,600 --> 00:26:12,359 Speaker 1: by then President Donald Trump unfairly singled out high tax 461 00:26:12,440 --> 00:26:17,240 Speaker 1: states in which Democrats predominant. The law caps a deduction 462 00:26:17,400 --> 00:26:21,240 Speaker 1: for state and local taxes known as salt, at ten 463 00:26:21,400 --> 00:26:25,920 Speaker 1: thousand dollars. In sports, the Yankees they will visit Detroit 464 00:26:26,200 --> 00:26:30,120 Speaker 1: Tangle tonight. Meanwhile, the Mets will host the Giants. Yesterday 465 00:26:30,160 --> 00:26:32,600 Speaker 1: in MLB, the Red Sox lost The A's beat the 466 00:26:32,680 --> 00:26:36,800 Speaker 1: Orioles five one in the NBA Playoffs, the Warriors beat 467 00:26:36,840 --> 00:26:39,000 Speaker 1: the Nuggets to lead the series two games to zip. 468 00:26:39,359 --> 00:26:42,960 Speaker 1: In the NHL, The Devil's and Capitals One Global News 469 00:26:43,040 --> 00:26:45,880 Speaker 1: twenty four hours a day on air and on Bloomberg 470 00:26:46,000 --> 00:26:49,000 Speaker 1: Quick Take, powered by more than twenty seven under journalist 471 00:26:49,040 --> 00:26:52,200 Speaker 1: analyst in more than twenty countries. Michael Barr And this 472 00:26:52,440 --> 00:26:54,920 Speaker 1: is Bloomberg. Nathan. Okay, Michael, thank you. It is six 473 00:26:55,040 --> 00:26:57,399 Speaker 1: thirty six on Wall Street Time. Now to take a 474 00:26:57,440 --> 00:26:59,359 Speaker 1: look at stuck, some of the names moving in the 475 00:26:59,440 --> 00:27:01,320 Speaker 1: pre market it and for that we're joined by Bloomberg 476 00:27:01,440 --> 00:27:06,000 Speaker 1: Radio and TV Markets correspondent Pretty Gupta. Already getting off 477 00:27:06,040 --> 00:27:09,480 Speaker 1: to a busy start, creaty with earnings crossing the Bloomberg. 478 00:27:09,600 --> 00:27:11,840 Speaker 1: I know, I'm still rubbing the sleep out of my eyes. NATS. Sorry, 479 00:27:11,960 --> 00:27:13,840 Speaker 1: Here we are with a lot of breaking news. Let's 480 00:27:13,840 --> 00:27:16,280 Speaker 1: start off with Johnson Johnson J and Jay's your taker 481 00:27:16,359 --> 00:27:18,520 Speaker 1: down three and a half percent this morning. This comes 482 00:27:18,560 --> 00:27:22,600 Speaker 1: after Johnson Johnson suspends its COVID nineteen vaccine sales guidance 483 00:27:22,840 --> 00:27:26,240 Speaker 1: due to a global supply surplus and demand uncertainty. Now 484 00:27:26,520 --> 00:27:30,399 Speaker 1: the forecast is going to be everything excluding vaccines. Now 485 00:27:30,440 --> 00:27:32,520 Speaker 1: it is worth noting that Johnson Johnson does not have 486 00:27:32,600 --> 00:27:35,280 Speaker 1: the majority share of vaccines of course, still falls behind 487 00:27:35,320 --> 00:27:38,760 Speaker 1: Maderna and Fiser Fiser, which which does have the majority 488 00:27:38,840 --> 00:27:41,280 Speaker 1: of a vaccine distribution at least here in the United States. 489 00:27:41,480 --> 00:27:44,119 Speaker 1: So this might not necessarily that material as opposed to 490 00:27:44,160 --> 00:27:46,040 Speaker 1: another one of its competitors, but still we're going to 491 00:27:46,119 --> 00:27:48,280 Speaker 1: keep an eye on these shares. J and J down 492 00:27:48,440 --> 00:27:50,320 Speaker 1: three and a half percent. And in that kind of 493 00:27:50,440 --> 00:27:53,480 Speaker 1: COVID related news, the mask mandate, you've had several reports 494 00:27:53,520 --> 00:27:55,560 Speaker 1: on it this morning. You are seeing a little bit 495 00:27:55,680 --> 00:27:58,680 Speaker 1: of a read through into the stock market as well, 496 00:27:58,800 --> 00:28:02,080 Speaker 1: now that there is no requirement for masks to be 497 00:28:02,200 --> 00:28:05,880 Speaker 1: worn on public transportation that includes airlines, that even includes Uber, 498 00:28:06,080 --> 00:28:07,840 Speaker 1: So you are seeing a little bit of movement, especially 499 00:28:07,920 --> 00:28:09,720 Speaker 1: for the airlines where you did see a lot of 500 00:28:09,840 --> 00:28:13,920 Speaker 1: hesitancy four passengers to be wearing masks on the planes 501 00:28:13,960 --> 00:28:16,320 Speaker 1: of the likes of American Airlines A L as your taker, 502 00:28:16,400 --> 00:28:18,840 Speaker 1: up three tents of a percent, United U A L 503 00:28:18,960 --> 00:28:21,040 Speaker 1: up three tents of a percent as well, and Delta 504 00:28:21,480 --> 00:28:23,760 Speaker 1: D a L also up about half a percent. This 505 00:28:23,880 --> 00:28:26,880 Speaker 1: is significant on a risk off morning. You're seeing airlines 506 00:28:26,920 --> 00:28:28,800 Speaker 1: post a little bit of green, So that's interesting in 507 00:28:28,920 --> 00:28:31,680 Speaker 1: Uber as well. Um in the same vein, saying it's 508 00:28:31,720 --> 00:28:34,080 Speaker 1: no longer going to ask riders and drivers in the 509 00:28:34,160 --> 00:28:37,320 Speaker 1: United States to wear masks, joining a growing number of 510 00:28:37,400 --> 00:28:41,120 Speaker 1: major transport providers shifting their policy. Uber shares are about flat, 511 00:28:41,200 --> 00:28:43,960 Speaker 1: but anything can happen, Nathan, Yeah, it'll be interesting to 512 00:28:44,000 --> 00:28:46,600 Speaker 1: see whether there's a pop or even a divergence between 513 00:28:46,720 --> 00:28:50,680 Speaker 1: Uber and Lift. We haven't heard a similar announcement from 514 00:28:50,960 --> 00:28:56,200 Speaker 1: Uber's competitor. How about a Twitter update created a Twitter update, 515 00:28:56,640 --> 00:29:01,000 Speaker 1: So much update I can do, Nathan W. T R 516 00:29:01,120 --> 00:29:03,160 Speaker 1: shares are down about half a percent. This is interesting 517 00:29:03,160 --> 00:29:05,480 Speaker 1: because they were down by much more earlier in the session, 518 00:29:05,560 --> 00:29:07,840 Speaker 1: so you are clearly seeing a lot of movement here. 519 00:29:07,880 --> 00:29:10,960 Speaker 1: Remember this morning that this uh stock has the most 520 00:29:11,120 --> 00:29:13,640 Speaker 1: pre market volume out of all the other stocks in 521 00:29:13,680 --> 00:29:15,440 Speaker 1: the SNP five hundred, so keep an eye on it. 522 00:29:15,560 --> 00:29:20,000 Speaker 1: Naturally comes after headlines from Apollo Global saying it's potentially 523 00:29:20,080 --> 00:29:22,960 Speaker 1: interested in helping finance a bid for Twitter. This course 524 00:29:23,000 --> 00:29:27,440 Speaker 1: follows elon Must forty billion dollar unsolicited offer to take 525 00:29:27,480 --> 00:29:30,120 Speaker 1: the company private, all according to people familiar with the matter. 526 00:29:30,200 --> 00:29:33,480 Speaker 1: Apollo has not yet commented But this is significant because 527 00:29:33,520 --> 00:29:36,640 Speaker 1: we've talked a lot about the potential of Elon Musk 528 00:29:36,720 --> 00:29:39,440 Speaker 1: to bring on another bidder like private equity firm tom 529 00:29:39,560 --> 00:29:43,160 Speaker 1: A Bravo, or use debt to kind of support their offer. Remember, 530 00:29:43,400 --> 00:29:46,120 Speaker 1: as I'm gonna use Ed Ludlow's phrasing here, Elon Musk 531 00:29:46,360 --> 00:29:48,040 Speaker 1: is certainly the richest man in the world, but he 532 00:29:48,200 --> 00:29:51,080 Speaker 1: is cash poor. So to make this investment happen, um 533 00:29:51,240 --> 00:29:53,640 Speaker 1: sometimes you have to kind of leverage Tesla shares, or 534 00:29:53,680 --> 00:29:57,080 Speaker 1: leverage other properties or etcetera, other holdings. So that's going 535 00:29:57,120 --> 00:29:59,840 Speaker 1: to be the concern here. Now a Polo Global allegedly 536 00:30:00,000 --> 00:30:02,200 Speaker 1: interested in helping finance that bed. We'll keep an eye 537 00:30:02,200 --> 00:30:04,440 Speaker 1: on that for you. T w t R down about 538 00:30:04,480 --> 00:30:06,720 Speaker 1: half percent, but it's not the only story this morning 539 00:30:07,040 --> 00:30:09,560 Speaker 1: that's moving. I want to introduce a plug power p 540 00:30:09,880 --> 00:30:12,080 Speaker 1: l u G is your taker up four and a 541 00:30:12,120 --> 00:30:14,480 Speaker 1: half percent, once again, on the background of a risk 542 00:30:14,560 --> 00:30:16,520 Speaker 1: off day. Four and a half percent is nothing to 543 00:30:16,560 --> 00:30:20,520 Speaker 1: scoff at. Announcing an agreement with Walmart for an option 544 00:30:20,560 --> 00:30:23,640 Speaker 1: to deliver up to twenty tons per day of liquid 545 00:30:23,760 --> 00:30:28,880 Speaker 1: green hydrogen to power material handling lift trucks across distribution 546 00:30:28,920 --> 00:30:31,600 Speaker 1: and fulfillment centers in the United States. Now, remember plug Powers, 547 00:30:31,600 --> 00:30:34,440 Speaker 1: one of those TV companies that soared with likes of Tesla, 548 00:30:34,560 --> 00:30:37,360 Speaker 1: with likes of Ribban because they provide that clean energy. 549 00:30:37,400 --> 00:30:39,880 Speaker 1: And you can see getting a very strong contract from 550 00:30:39,920 --> 00:30:42,040 Speaker 1: Walmart this morning. Nathan Yeah, from one of the biggest 551 00:30:42,080 --> 00:30:45,960 Speaker 1: retailers in the world. Bloomberg Radio on TV Markets correspondent 552 00:30:45,960 --> 00:30:48,840 Speaker 1: Crety Gupta, as always, thanks for keeping us up to 553 00:30:48,920 --> 00:30:52,000 Speaker 1: speed on what's happening in the pre market. Looking ahead 554 00:30:52,040 --> 00:30:55,040 Speaker 1: to the open, it is a down session with SMP 555 00:30:55,200 --> 00:30:58,160 Speaker 1: futures down seven points right now, DAL futures down forty 556 00:30:58,240 --> 00:31:01,640 Speaker 1: six and NASTAC future is lower by thirty points ten. 557 00:31:01,680 --> 00:31:04,720 Speaker 1: Your treasuries down nine thirty seconds. The yield two point 558 00:31:04,800 --> 00:31:07,400 Speaker 1: eight eight percent yield on the two year two point 559 00:31:07,480 --> 00:31:10,520 Speaker 1: four six nim X cruds down one and a half percent. 560 00:31:10,600 --> 00:31:14,280 Speaker 1: Down a dollar fifty seven hundred six dollars sixty four 561 00:31:14,360 --> 00:31:17,800 Speaker 1: cents gets your barrel of West Texas Intermediate. You're listening 562 00:31:17,840 --> 00:31:25,120 Speaker 1: to Bloomberg Daybreak Bloomber eleven three oh weather flood watch 563 00:31:25,160 --> 00:31:27,360 Speaker 1: for about another hour or so. Will turn mostly sunny 564 00:31:27,440 --> 00:31:29,600 Speaker 1: this afternoon with a high in the mid fifties. Upper 565 00:31:29,640 --> 00:31:34,400 Speaker 1: fifties tomorrow, low sixties on Thursday right now forty degrees 566 00:31:34,440 --> 00:31:40,720 Speaker 1: in Central Park Markets, headlines and breaking news twenty four 567 00:31:40,760 --> 00:31:43,760 Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business 568 00:31:43,840 --> 00:31:54,160 Speaker 1: at and at Bloomberg Quicktape is a Bloomberg Business Flash. Hey, 569 00:31:54,200 --> 00:31:58,280 Speaker 1: good morning, I'm Cameron Moscow, and futures are lower this morning. 570 00:31:58,360 --> 00:32:00,680 Speaker 1: It's another busy morning for corporate earnings, and we go 571 00:32:00,760 --> 00:32:03,200 Speaker 1: to the first word breaking news dance for today's morning call. 572 00:32:03,320 --> 00:32:07,360 Speaker 1: Here's Bill Maloney, Bill, good morning, Good morning, Karen. That's right. 573 00:32:07,400 --> 00:32:09,840 Speaker 1: Modest losses in the futures right now. DEAF futures down 574 00:32:09,840 --> 00:32:12,880 Speaker 1: at forty eight point sysme drops seven. Nastick futures are 575 00:32:12,920 --> 00:32:15,600 Speaker 1: off by twenty eight. The US ten yield at two 576 00:32:15,640 --> 00:32:18,440 Speaker 1: point eight eight percent, Gold is down three, Oil trading 577 00:32:18,520 --> 00:32:21,920 Speaker 1: lower and bitcoin is little changed. Hong Kong fell two 578 00:32:21,960 --> 00:32:24,480 Speaker 1: point three percent overnight, while Europan markets are also in 579 00:32:24,560 --> 00:32:26,560 Speaker 1: the red this morning, and back in the US. On 580 00:32:26,640 --> 00:32:30,120 Speaker 1: the economic front, at a thirty, Housing starts Regarding earnings, 581 00:32:30,280 --> 00:32:33,480 Speaker 1: Jane j caught its forecast and suspended its code vaccine 582 00:32:33,480 --> 00:32:38,160 Speaker 1: guidance and hasbroke EPs missestimates. In deal news, people familiar 583 00:32:38,200 --> 00:32:40,960 Speaker 1: so that Apollo is considering backing Elon Musk and his 584 00:32:41,000 --> 00:32:43,720 Speaker 1: bid for Twitter, and Zendesk is said to be working 585 00:32:43,760 --> 00:32:47,040 Speaker 1: on a potential sale. In other news, Fedsboard says a 586 00:32:47,200 --> 00:32:50,200 Speaker 1: semi five basis point Hi could be an option if needed, 587 00:32:50,600 --> 00:32:52,720 Speaker 1: and wrapping things up, app love and was rated a 588 00:32:52,840 --> 00:32:56,160 Speaker 1: new by over at Goldman Sachs Live from the First 589 00:32:56,320 --> 00:32:59,040 Speaker 1: Breaking news desk on Bill Maloney, Karen, very Bill, thank 590 00:32:59,080 --> 00:33:01,480 Speaker 1: you and yeah. Watching john S and Johnson stock this morning, 591 00:33:01,560 --> 00:33:04,520 Speaker 1: down two point six percent in early trading, and to 592 00:33:04,560 --> 00:33:07,080 Speaker 1: hear live breaking news over your Bloomberg type swalk on 593 00:33:07,120 --> 00:33:09,640 Speaker 1: your termin I'll sk you a w K. That's a 594 00:33:09,680 --> 00:33:12,360 Speaker 1: Bloomberg business flash. Now here's Michael Barr with more on 595 00:33:12,480 --> 00:33:15,520 Speaker 1: what's going on around the world. Michael, Karen, thank you 596 00:33:15,640 --> 00:33:19,200 Speaker 1: very much. Russia's military targeted regions in Ukraine's south and 597 00:33:19,280 --> 00:33:23,520 Speaker 1: east overnight for shilling. Ukrainian President Volodimir z Lenski says 598 00:33:23,600 --> 00:33:25,960 Speaker 1: Moscow has been on a new campaign to conquer the 599 00:33:26,000 --> 00:33:28,720 Speaker 1: don Bs area in the east of the country. The 600 00:33:28,840 --> 00:33:33,040 Speaker 1: fiance a former President Donald Trump's eldest son, Kimberly Gilfoyle, 601 00:33:33,480 --> 00:33:36,640 Speaker 1: met with the House committee investigating the US Capitol Riot 602 00:33:37,000 --> 00:33:40,480 Speaker 1: and attorney representing Gilfoyle has previously stated that she has 603 00:33:40,600 --> 00:33:44,160 Speaker 1: done nothing wrong. And MLB. The Red Sox lost, The 604 00:33:44,240 --> 00:33:47,640 Speaker 1: A's beat the Orioles five one in the NBA Playoffs. 605 00:33:47,680 --> 00:33:49,760 Speaker 1: The Warriors beat the Nuggets to leave the series two 606 00:33:49,800 --> 00:33:53,200 Speaker 1: games to zip. In the NHL. The Devil's and Capitol's 607 00:33:53,240 --> 00:33:55,960 Speaker 1: One Global news twenty four hours a day on air 608 00:33:56,080 --> 00:33:59,440 Speaker 1: and on Bloomberg Quick Take, powered by more than twenty 609 00:33:59,600 --> 00:34:03,320 Speaker 1: seven hundreds and journalists and analysts more than a hundred 610 00:34:03,400 --> 00:34:07,200 Speaker 1: twenty countries. I'm Michael Barn. This is Bloomberg. Caren alright, 611 00:34:07,240 --> 00:34:09,080 Speaker 1: Michael Barr, thank you. At A six forty nine on 612 00:34:09,160 --> 00:34:11,920 Speaker 1: Wall Street. We turned to news and science and technology now. 613 00:34:12,239 --> 00:34:14,680 Speaker 1: But the Bloomberg and j I T. STEM Report brought 614 00:34:14,719 --> 00:34:17,839 Speaker 1: to you buy New Jersey Institute of Technology, ranked top 615 00:34:17,880 --> 00:34:21,120 Speaker 1: fifty national public university by US News and World Report, 616 00:34:21,160 --> 00:34:23,800 Speaker 1: in the top ten for best career placement among public 617 00:34:23,880 --> 00:34:26,560 Speaker 1: schools by the Princeton Review. Learned more at n J 618 00:34:26,760 --> 00:34:28,960 Speaker 1: I T DOT E d U and now here's this 619 00:34:29,080 --> 00:34:32,759 Speaker 1: making news in science, Technology, engineering, and math. Most major 620 00:34:32,880 --> 00:34:36,200 Speaker 1: US airlines are no longer requiring travelers or employees to 621 00:34:36,280 --> 00:34:39,919 Speaker 1: wear masks on domestic and some international flights that came 622 00:34:40,080 --> 00:34:43,440 Speaker 1: hours after a federal judge overturned a mandate for passengers 623 00:34:43,480 --> 00:34:47,040 Speaker 1: to cover their faces. Uber has also lifted the mask mandate, 624 00:34:47,440 --> 00:34:51,720 Speaker 1: and Shanghai authorities reported seven more deaths from the coronavirus. 625 00:34:52,040 --> 00:34:55,279 Speaker 1: China's financial hub is grappling with a record outbreak that's 626 00:34:55,280 --> 00:34:58,840 Speaker 1: brought unprecedented disruptions to residents and threatens the countries he 627 00:34:58,880 --> 00:35:01,200 Speaker 1: can have a growth that only five million people living 628 00:35:01,239 --> 00:35:04,040 Speaker 1: in Shanghai have been locked down for weeks, and the 629 00:35:04,120 --> 00:35:07,800 Speaker 1: flight debut of NASA's Mega Moon rocket faces additional delays 630 00:35:07,840 --> 00:35:10,759 Speaker 1: following a string of failed fueling test Officials say it'll 631 00:35:10,800 --> 00:35:13,160 Speaker 1: be challenging to meet a launch window in early to 632 00:35:13,239 --> 00:35:16,400 Speaker 1: mid June. The next opportunity to send an empty capsule 633 00:35:16,480 --> 00:35:18,600 Speaker 1: to the Moon on a test flight would be at 634 00:35:18,640 --> 00:35:22,000 Speaker 1: the end of June or July. The thirties store thirty 635 00:35:22,239 --> 00:35:25,120 Speaker 1: story Space launch System or rocket, has been on the 636 00:35:25,200 --> 00:35:28,160 Speaker 1: padded Kennedy Space Center for the past month. It will 637 00:35:28,200 --> 00:35:30,880 Speaker 1: return to the hangar next week for valve and fuel 638 00:35:30,920 --> 00:35:33,640 Speaker 1: leak repairs and as the Bloomberg n j I t 639 00:35:33,880 --> 00:35:36,759 Speaker 1: stem reboard. Nathan Okay, Karen thank you. We are live 640 00:35:36,840 --> 00:35:39,400 Speaker 1: from the Bloomberg Interactor Broker Studios, where it's coming up 641 00:35:39,400 --> 00:35:41,239 Speaker 1: to six fifty one on Wall Street Time Now to 642 00:35:41,320 --> 00:35:43,200 Speaker 1: check what's going on in DC. Some of the top 643 00:35:43,280 --> 00:35:45,840 Speaker 1: stories in our nation's capital include the US halting the 644 00:35:45,920 --> 00:35:49,240 Speaker 1: mask mandate on planes, trains, and buses, President Biden hosting 645 00:35:49,280 --> 00:35:51,480 Speaker 1: a call this morning with allies on the war in Ukraine, 646 00:35:51,719 --> 00:35:55,680 Speaker 1: and Treasury Secretary Yelling backing away from boycotting some G 647 00:35:55,880 --> 00:35:59,440 Speaker 1: twenty sessions. Bloomberg Washington correspondent Joe Matthew is back with 648 00:35:59,600 --> 00:36:02,200 Speaker 1: us to breakdown more on all these stories. Of course, 649 00:36:02,239 --> 00:36:05,160 Speaker 1: the host of sound on here on Bloomberg Radio. Let's 650 00:36:05,160 --> 00:36:08,279 Speaker 1: start off with what's happening in Ukraine, Joe. Obviously we've 651 00:36:08,440 --> 00:36:12,520 Speaker 1: heard the dawn Boss offensive has begun. What are we 652 00:36:12,600 --> 00:36:15,719 Speaker 1: expecting as the President gets ready for this virtual call 653 00:36:15,920 --> 00:36:19,000 Speaker 1: later this morning, A pretty stark statement to hear that 654 00:36:19,080 --> 00:36:21,680 Speaker 1: from President Zelenski the battle has begun. It's a little 655 00:36:21,719 --> 00:36:24,959 Speaker 1: earlier than some had expected, Nathan, And when we talked 656 00:36:24,960 --> 00:36:28,080 Speaker 1: to military analysts, Russia seemed to have regrouped a bit 657 00:36:28,120 --> 00:36:30,720 Speaker 1: more quickly, and there was a thought that that Moscow 658 00:36:30,840 --> 00:36:33,560 Speaker 1: might wait for Mariuple to fall, so it could bring 659 00:36:33,719 --> 00:36:36,520 Speaker 1: those Russian troops into the dun Boss fight. So they're 660 00:36:36,560 --> 00:36:40,560 Speaker 1: going into this with a slightly smaller force than some expected. 661 00:36:40,600 --> 00:36:42,560 Speaker 1: To your point, the President will meet this morning with 662 00:36:43,200 --> 00:36:46,280 Speaker 1: our European allies and partners on a couple of matters. 663 00:36:46,320 --> 00:36:48,880 Speaker 1: There's gonna be talk about another layer of sanctions, and 664 00:36:48,920 --> 00:36:50,799 Speaker 1: that seems to be the case every time they meet. 665 00:36:50,840 --> 00:36:54,480 Speaker 1: This could uh specifically be looking at banking and more 666 00:36:54,520 --> 00:36:58,200 Speaker 1: specifically Sure Bank, possible European oil band as well, though 667 00:36:58,239 --> 00:37:00,560 Speaker 1: that could be weeks off depending on how many feels 668 00:37:00,560 --> 00:37:04,399 Speaker 1: about that, but also delivering weaponry, and there were four 669 00:37:04,440 --> 00:37:07,920 Speaker 1: airplanes that arrived in Europe on Sunday that we we 670 00:37:08,040 --> 00:37:11,080 Speaker 1: heard about yesterday from Jensaki, the White House Press secretary. 671 00:37:11,160 --> 00:37:14,960 Speaker 1: They are full of the heavy artillery, the howitzers, the 672 00:37:15,160 --> 00:37:17,880 Speaker 1: armored troop carriers, and some of the other equipment cleared 673 00:37:17,920 --> 00:37:20,480 Speaker 1: in that recent eight hundred million dollar tronche of weapons 674 00:37:20,520 --> 00:37:22,799 Speaker 1: that's on its way to Ukraine. The question is, Nathan, 675 00:37:22,840 --> 00:37:26,279 Speaker 1: can we get it there quickly enough into Ukraine and 676 00:37:26,840 --> 00:37:28,920 Speaker 1: stage that in the areas in the east where they 677 00:37:28,920 --> 00:37:33,279 Speaker 1: are most needed in time for the Ukrainian forces to 678 00:37:33,320 --> 00:37:35,800 Speaker 1: meet the Russians. I'll add that we're gonna be apparently 679 00:37:35,960 --> 00:37:40,680 Speaker 1: providing how it's her training to Ukrainian forces outside of 680 00:37:40,920 --> 00:37:43,560 Speaker 1: Ukraine that could start as soon as they arrive, as 681 00:37:43,600 --> 00:37:46,560 Speaker 1: soon as today, and pretty interesting to consider what we've 682 00:37:46,600 --> 00:37:49,240 Speaker 1: heard from Vladimir Putin that he's open to attacking supply 683 00:37:49,400 --> 00:37:53,040 Speaker 1: lines from the US from NATO that are going into Ukraine. 684 00:37:53,480 --> 00:37:55,600 Speaker 1: I'm sure they're going to be keeping a very tight 685 00:37:55,719 --> 00:37:57,479 Speaker 1: lit on where that training is going to take place. 686 00:37:57,760 --> 00:38:01,919 Speaker 1: And that brings back the is concern that has been 687 00:38:02,080 --> 00:38:05,760 Speaker 1: expressed by the US and NATO allies about being drawn 688 00:38:05,840 --> 00:38:10,120 Speaker 1: more directly into the war. What is the level of 689 00:38:10,239 --> 00:38:13,480 Speaker 1: concern at this point as those weapons start to move 690 00:38:13,600 --> 00:38:16,120 Speaker 1: even more quickly into your You know, it's interesting, it 691 00:38:16,160 --> 00:38:18,800 Speaker 1: depends when you talked to you raised a lot of eyebrows. 692 00:38:18,880 --> 00:38:22,520 Speaker 1: On Sunday, UH Senator Chris Coon's, the Democrat from Delaware, 693 00:38:22,600 --> 00:38:26,000 Speaker 1: what I was considering the most underreported story of the weekend. 694 00:38:26,320 --> 00:38:28,560 Speaker 1: This is the man who sits in Joe Biden's old 695 00:38:28,640 --> 00:38:31,640 Speaker 1: Senate seat, a close confident of the White House calling 696 00:38:31,719 --> 00:38:36,080 Speaker 1: on national television to open the conversation about considering the 697 00:38:36,480 --> 00:38:41,600 Speaker 1: addition of American ground troops in Ukraine. The level of 698 00:38:41,719 --> 00:38:45,799 Speaker 1: pressure that lawmakers are hearing as these horrifying images come 699 00:38:45,880 --> 00:38:49,440 Speaker 1: from places like Mariopolambucha is going to only increase the 700 00:38:49,480 --> 00:38:53,919 Speaker 1: pressure to do more. His line was, Vladimir Putin will 701 00:38:53,960 --> 00:38:58,040 Speaker 1: not stop unless we stop him. The White House reacted 702 00:38:58,080 --> 00:39:01,200 Speaker 1: to that yesterday. Press Secretary Saki was asked about it. 703 00:39:01,280 --> 00:39:05,600 Speaker 1: They say, quote, we respectfully disagree unquote. Wow. Very interesting 704 00:39:05,680 --> 00:39:08,759 Speaker 1: to hear that kind of line drawn between the president and, 705 00:39:09,120 --> 00:39:13,120 Speaker 1: as you say, a senator who is very close concident 706 00:39:13,360 --> 00:39:17,360 Speaker 1: to President Biden. We're also watching the World Bank I 707 00:39:17,520 --> 00:39:20,959 Speaker 1: MF meetings, of course, the G twenty meeting on the sidelines, 708 00:39:21,160 --> 00:39:24,880 Speaker 1: and now there's a little bit of pullback from Treasury 709 00:39:24,920 --> 00:39:27,799 Speaker 1: Secretary yelling on this stance of if Russia is going 710 00:39:27,840 --> 00:39:30,480 Speaker 1: to take part in these meetings, we're not going to go. Yeah, 711 00:39:30,520 --> 00:39:32,440 Speaker 1: this is an interesting wrinkle. At one point that the 712 00:39:32,520 --> 00:39:36,680 Speaker 1: Secretary was going to avoid these meetings altogether, uh as 713 00:39:36,760 --> 00:39:39,800 Speaker 1: Russia was planning to attend G twenty, remembering that China 714 00:39:39,880 --> 00:39:41,680 Speaker 1: and India are in the G twenty. They are not 715 00:39:42,160 --> 00:39:45,720 Speaker 1: prepared to kick Russia out or do anything about Russia's 716 00:39:45,760 --> 00:39:48,680 Speaker 1: status here. But it looks like Yellen will attend some sessions. 717 00:39:48,719 --> 00:39:51,279 Speaker 1: There are questions about whether it would be more effective though, 718 00:39:51,640 --> 00:39:54,520 Speaker 1: because by the way, Ukraine has representatives here they need 719 00:39:54,640 --> 00:39:56,600 Speaker 1: to get some work done with the US, and she'll 720 00:39:56,640 --> 00:39:58,920 Speaker 1: be there for that. Questions about whether it would be 721 00:39:59,000 --> 00:40:02,000 Speaker 1: effective for Yelling to show up at meetings one in 722 00:40:02,080 --> 00:40:05,399 Speaker 1: particular and economic architecture where we know the Russians will 723 00:40:05,400 --> 00:40:08,319 Speaker 1: be there and stand up, face off with them, call 724 00:40:08,400 --> 00:40:11,680 Speaker 1: them out on a global level. At the G twenty meeting, 725 00:40:11,719 --> 00:40:15,160 Speaker 1: it would it would provide some monster headlines for this administration, 726 00:40:15,200 --> 00:40:17,080 Speaker 1: though it is not expected to have them. Got a 727 00:40:17,120 --> 00:40:19,280 Speaker 1: couple of minutes left here, Joe got to talk about 728 00:40:19,520 --> 00:40:23,520 Speaker 1: the end potentially of the mask mandate in public transportation. 729 00:40:23,560 --> 00:40:26,279 Speaker 1: At least it's not gonna be enforced at the moment. Well, 730 00:40:26,320 --> 00:40:29,279 Speaker 1: that's true. Uh. They again, the White House not too 731 00:40:29,320 --> 00:40:31,680 Speaker 1: happy about this. They say they're disappointed in the decision. 732 00:40:32,160 --> 00:40:35,720 Speaker 1: It emerged just before yesterday's White House briefing. The CDC 733 00:40:35,960 --> 00:40:37,880 Speaker 1: has since weighed in to say, you know, the mandate 734 00:40:38,000 --> 00:40:41,280 Speaker 1: is down, certainly for now. And this follows the Supreme 735 00:40:41,400 --> 00:40:47,640 Speaker 1: Court knocking down President Biden's workplace vax or mask mandate. 736 00:40:47,760 --> 00:40:50,560 Speaker 1: It's gonna be very now that airlines have acted in 737 00:40:50,760 --> 00:40:53,279 Speaker 1: Uber to your point, you were just talking about that 738 00:40:53,280 --> 00:40:55,520 Speaker 1: a little while ago on the program. Uber is following 739 00:40:55,560 --> 00:40:58,120 Speaker 1: as well. The mandates are down, it's gonna be essentially 740 00:40:58,160 --> 00:41:00,600 Speaker 1: impossible to get the toothpaste back into tube here. If 741 00:41:00,640 --> 00:41:03,239 Speaker 1: that is what comes from this, the d o J 742 00:41:03,520 --> 00:41:05,279 Speaker 1: is looking at it. Nathan. We don't know if there 743 00:41:05,280 --> 00:41:07,239 Speaker 1: will be a legal answer to this. Will wait to 744 00:41:07,280 --> 00:41:09,840 Speaker 1: hear more today. Well. Is there a possibility though that 745 00:41:09,920 --> 00:41:13,000 Speaker 1: there could be legal points back as you say, the 746 00:41:13,080 --> 00:41:15,719 Speaker 1: dominoes have fallen, that's when it's gonna be tough to 747 00:41:15,760 --> 00:41:17,920 Speaker 1: set a back up. Well, and there was no legal 748 00:41:18,000 --> 00:41:20,799 Speaker 1: answer to the workplace mandate. The d o J says 749 00:41:20,880 --> 00:41:23,160 Speaker 1: it is reviewing the decision. Will let you know if 750 00:41:23,200 --> 00:41:27,000 Speaker 1: we hear more. And finally in our last minute here, uh, 751 00:41:27,440 --> 00:41:31,120 Speaker 1: the January six committee still working, still talking to people 752 00:41:31,400 --> 00:41:34,720 Speaker 1: very close to former President Trump. Yeah, that's right, Kimberly 753 00:41:34,800 --> 00:41:37,000 Speaker 1: Gilfoyle was the most recent to sit down. There are 754 00:41:37,120 --> 00:41:39,960 Speaker 1: questions about, you know exactly how and when this is 755 00:41:39,960 --> 00:41:41,960 Speaker 1: gonna end, Nathan. We're in the middle of a mid 756 00:41:42,120 --> 00:41:45,160 Speaker 1: term election year and and Democrats would like to get 757 00:41:45,280 --> 00:41:48,360 Speaker 1: the work done before voters hit the polls and not. 758 00:41:48,600 --> 00:41:51,320 Speaker 1: Of course, Republicans would prefer this not drag out throughout 759 00:41:51,360 --> 00:41:54,759 Speaker 1: the year as well. There are questions and some suggesting 760 00:41:54,800 --> 00:41:59,000 Speaker 1: that they hold prime time televised hearings to bring Americans 761 00:41:59,040 --> 00:42:00,759 Speaker 1: in on what they have learned. We simply don't know 762 00:42:00,840 --> 00:42:02,840 Speaker 1: exactly what they're sitting on. At some point here, this 763 00:42:02,960 --> 00:42:05,160 Speaker 1: needs to go public. We need to report out there 764 00:42:05,200 --> 00:42:07,000 Speaker 1: so the country can move on. Now. You got to 765 00:42:07,040 --> 00:42:10,319 Speaker 1: think that that report, at least for the Democrats, they'd 766 00:42:10,360 --> 00:42:13,400 Speaker 1: like to get it done before the midterms. Joe Matthew 767 00:42:13,600 --> 00:42:16,800 Speaker 1: always good to speak with you, Bloomberg Washington, corresponded Joe Matthew, 768 00:42:17,120 --> 00:42:20,080 Speaker 1: host of Sound on which you could hear this afternoon 769 00:42:20,120 --> 00:42:24,160 Speaker 1: in every afternoon five pm Wall Street time weekdays on 770 00:42:24,400 --> 00:42:28,200 Speaker 1: Bloomberg Radio. Read more on Bloomberg dot Com or on 771 00:42:28,280 --> 00:42:31,600 Speaker 1: the Bloomberg terminal, and listen to Bloomberg Radio in Washington 772 00:42:31,640 --> 00:42:35,960 Speaker 1: A Bloomberg and one oh five point seven FM HD two. 773 00:42:36,680 --> 00:42:38,920 Speaker 1: Look at your Head to the market Open futures are 774 00:42:39,080 --> 00:42:43,520 Speaker 1: moving lower. Bloomberg Surveillance Straight Ahead with Tom Keene, Jonathan Faroll, 775 00:42:43,560 --> 00:42:46,480 Speaker 1: and Lisa Bramowitz for Karen Moscow I'm Nathan Hagar. This 776 00:42:47,000 --> 00:42:47,759 Speaker 1: is Bloomberg