Speaker 1: Live from the Bloomberg indirector Workers studios. This is Bloomberg
Speaker 1: day Break for a Tuesday, April nineteen two. Coming up
Speaker 1: this hour, Mukraine says Russia's assault on the Don Boss
Speaker 1: region is underway. Most major US airlines you're no longer
Speaker 1: requiring mess on domestic flights. A top FED official says
Speaker 1: a seventy five basis point hike may be in play,
Speaker 1: and Netflix, IBM, and Johnson and Johnson all report earnings today.
Speaker 1: New York Mayor Adam says the city is not ready
Speaker 1: yet to bring back into or mask mandates. Plus there's
Speaker 1: a rise in migrants attempted to cross in the US
Speaker 1: Mexico border. I'm Michael bar more ahead, I'm done finished
Speaker 1: our sports. Yankees are in Detroit, that I'd met them,
Speaker 1: a double head with the Giants, NBA playoff wins for
Speaker 1: Philaelpia Dallas and Golden Speed. That's all straight ahead on
Speaker 1: Bloomberg day Break on Bloomberg eleven, FREEO, New York, Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one O six one, Boston, Bloomberg nine sixties,
Speaker 1: San Francisco, Sirius x M one nineteen and around the world.
Speaker 1: On Bloomberg Radio dot com via the Bloomberg Business At
Speaker 1: and good morning. I'm Karen Moscow, I'm Nathan Hagar. Bloomberg
Speaker 1: Daybreak is brought to you by I b KR Investment
Speaker 1: Advisors switched to Interactive Brokers for lowest cost global trading
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Speaker 1: slash r i A and US futures are lower this
Speaker 1: morning at six so one on Wall Street, and we
Speaker 1: checked the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg S and P Future is down about ten
Speaker 1: points down. Future is down fifty one. Now's day, Future
Speaker 1: is down forty four. Ten year Treasury down eight thirty seconds,
Speaker 1: held two point eight eight percent yield on the two
Speaker 1: year two point four or five percent. Nathan, all right, Karen,
Speaker 1: we'll have more on the markets in a minute. First,
Speaker 1: the latest on the war. Russia's assault on Ukraine's don
Speaker 1: Boss region has begun. Ukrainian President Vladimir Selinsky says they
Speaker 1: will not give up without a fight. Amy Morris has
Speaker 1: the latest from our Bloomberg newsroom in Washington. Zelinsky said
Speaker 1: Russian forces have launched a new campaign to conquer the
Speaker 1: dun Boss region in the east of Ukraine. A significant
Speaker 1: part of the entire Russian army is now concentrated on
Speaker 1: this offensive. No matter how many Russian troops are driven there,
Speaker 1: we will fight. Meanwhile, the US military will start training
Speaker 1: Ukrainian troops on how to operate the howitzers that the
Speaker 1: US is sending Ukraine. Pentagon spokesman John Kirby that training
Speaker 1: will occur outside of Ukraine and then they we reintroduced
Speaker 1: back into their country to train their colleagues. This as
Speaker 1: the remaining defenders of Mariople are surrounded by Kremlin forces,
Speaker 1: but they have not surrendered that key port city in Washington.
Speaker 1: I'm Amy Morris Bloomberg Daybreak, Amy, thank you all. President
Speaker 1: Joe Biden will hold a call with key allies later
Speaker 1: today to discuss Ukraine. Meanwhile, the US has backed off
Speaker 1: any suggestion that its officials would boycott Group of Twenty
Speaker 1: meetings this week if Russia takes part. The Treasury Department
Speaker 1: says Secretary Jannet Yellen will participate in some sessions this week. Well.
Speaker 1: The war has in part lad the World Bank to
Speaker 1: cut its economic outlook Karen, and the Bank's chief economist
Speaker 1: Carmen Reinhardt, added she would not rule out further downgrades.
Speaker 1: In an interview with Bloomberg, Reinhart laid out the downside
Speaker 1: risks facing the global economy, array of disruptions from China's
Speaker 1: new lockdowns, from the impacts UH yet to be fully
Speaker 1: felt of the Russia Ukraine war on on food prices,
Speaker 1: on global supply chains, and if you know, bad came
Speaker 1: to worse, UH, could there be another episode of financial contagion?
Speaker 1: The World Banks chief economist Carmen Reinhardt says growth will
Speaker 1: slow to three point two percent. That's down from a
Speaker 1: January prediction of four. Meanwhile, Nathan St. Louis FED President
Speaker 1: James Bullard said the FED needs to move quickly to
Speaker 1: raise rates to around three and a half percent this year,
Speaker 1: and he also says the Central Bank should not rule
Speaker 1: out rate increases of seventy five basis points to find inflation.
Speaker 1: I would point out that UH cycle UH where we
Speaker 1: raised the policy rate three basis points in the year,
Speaker 1: and in that cycle, UH there was a si many
Speaker 1: five basis points UH increase at one point UM, so
Speaker 1: I wouldn't rule it out, but it's not my base
Speaker 1: case here. Seeing the West. FED President James Bullard also
Speaker 1: said that talks of the US recession, it's premature. Well
Speaker 1: Bullard tnk is comments may be piling on to weakness
Speaker 1: for a traditional haven currency. The Japanese yen is weaker
Speaker 1: against the dollar for a thirteenth straight day. It's extending
Speaker 1: its longest losing streak in at least a half century.
Speaker 1: Right now the ends trading at point three five against
Speaker 1: the dollar. Now to the latest on the pandemic Nathan
Speaker 1: and a major development in the air, the Transportation Security
Speaker 1: Administration saying it will no longer enforce the COVID mask
Speaker 1: mandate on public transportation, Bloomberg said Baxter has the story
Speaker 1: this after a Florida judge struck down the remainder of
Speaker 1: the mandate, saying the CDC went too far. The t
Speaker 1: s A says for now it will not enforce the
Speaker 1: masking bandate. White House Folks Women Jimsaki says the ruling
Speaker 1: is disappointing. We also think the mask commandate should be
Speaker 1: in place and that it's safer for individuals for flying
Speaker 1: to continue to wear masks. So the major US air
Speaker 1: carriers have now made masking optional for the time being,
Speaker 1: Delta United Southwest Alaska American. Some of the international flights
Speaker 1: will continue to have the mandate for now. In San Francisco,
Speaker 1: I'm at Baxter Bloomberg, Gay Break all Right and thank you.
Speaker 1: And Uber also announced this morning that It's riders and
Speaker 1: drivers will no longer be required to wear masks. Turning
Speaker 1: new corporate earnings this morning, we hear from more than
Speaker 1: a dozen companies in the SMP five hundred today. They
Speaker 1: include IBM, Johnson and Johnson, and Netflix. Here with the
Speaker 1: Netflix preview is Bloomberg's Tom Busby. Shares of the streaming
Speaker 1: leader have taken a real beating since its last earnings
Speaker 1: report in January, down about thirty three percent. That follows
Speaker 1: a disappointing outlook for subscriber growth amid a flood of competition,
Speaker 1: but key to its first quarter results out later today,
Speaker 1: the impact of a recent price increase and the suspension
Speaker 1: of service in Russia, and both could have a negative
Speaker 1: impact on results. Still, forecast call for two point eight
Speaker 1: million subscriber ads for a total of nearly two hundred
Speaker 1: twenty five million worldwide, look for earnings per share of
Speaker 1: two dollars cents and revenue of seven point nine five
Speaker 1: billion dollars. Tom Busby Bloomberg Daybreak, All right, Tom, thank
Speaker 1: you all new developments this morning. And Elon Musk forty
Speaker 1: three billion dollar pursuit of Twitter, and we get the
Speaker 1: latest line from Bloomberg's Ready too Young, good morning, Ready
Speaker 1: to Good morning, Karen Bloomberg. Sources say Apollo Global Management
Speaker 1: is considering backing a potential deal for Twitter and could
Speaker 1: provide Elon Musk or another bidder like private equity firm
Speaker 1: Toma Bravo, with equity or debt to support an offer.
Speaker 1: The participation could come in the form of credit or
Speaker 1: preferred equity. Of filing from last week shows Morgan Stanley
Speaker 1: is advising Musk and his unsolicited offer to take Twitter private.
Speaker 1: Twitter is enlisting the help of Goldman Sachs and JP
Speaker 1: Borgan Chase to respond to Musk's hostile bid Live in
Speaker 1: New York. I'm Ranita Young Bloomberg day Break, Nita, Thanks,
Speaker 1: and the bullish stock call. Musk's current company, Tesla Cathy
Speaker 1: Woods Our Investment Management now expects shares of the electric
Speaker 1: car maker to more than quadruple to forty six hundred
Speaker 1: dollars by six would has long been an ardent supporter
Speaker 1: of Tesla. Andy elon Musk. Tesla is the largest holding
Speaker 1: in Woods flagship our Connovation et F. You're listening to
Speaker 1: Bloomberg Daybreak and it's now six o seven on Wall
Speaker 1: Street forty one degrees in Central Park. We have an
Speaker 1: accident on the inbound upper level of the George Washington Bridge.
Speaker 1: Details coming up in traffic. First Michael Barr with what
Speaker 1: else is going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. Now, then an indoor
Speaker 1: mask mandate is back in place in Philadelphia. Will New
Speaker 1: York City do the same? Cope nineteen case numbers arising
Speaker 1: in several cities. Mayor Eric Adams, who had been quarantining
Speaker 1: due to having the virus, was asked about mask rules
Speaker 1: in the city. We are advising New Yorker is uh
Speaker 1: to wear a mask, but we're not at the point
Speaker 1: of mandate right now. We hospitalizations at a steady level,
Speaker 1: death side of steady level. Mayor Adams says, we are
Speaker 1: encouraging New Yorkers to wear the mask if you feel uncomfortable.
Speaker 1: The Supreme Court is declining to wait into a lawsuit
Speaker 1: filed by four New York City public school employees. It's
Speaker 1: over a policy that they'd be vaccinated against COVID. Nineteen
Speaker 1: judge has ruled Amazon must reinstate a former employee who
Speaker 1: was fired in the early days of the pandemic after
Speaker 1: leading a protest in Staaten Island calling for the company
Speaker 1: to do more to protect workers against COVID. The judge
Speaker 1: ruled that Amazon must offer the former worker, Gerald Bryson,
Speaker 1: his job back, as well as lost wages and benefits.
Speaker 1: The Biden administration is pledging not to litter in space.
Speaker 1: Vice President Harris said the US would no longer engage
Speaker 1: in anti satellite missile testing in space. Harris explained the
Speaker 1: testing causes to breed and it's dangerous to research and
Speaker 1: facilities like the International Space Station. A piece of space
Speaker 1: debris the size of a basketball, which travels at thousands
Speaker 1: of miles per hour, would destroy a satellite. Even a
Speaker 1: piece of debris as small as a grain of sand
Speaker 1: could cause serious damage. Vice President Harris says we are
Speaker 1: the first nation to make such a commitment and called
Speaker 1: on other nations to follow. The number of migrants attempting
Speaker 1: to cross the US Mexico border has surged in recent weeks.
Speaker 1: It comes as the US prepares for even larger numbers
Speaker 1: with the expected lifting of a pandemic era order that
Speaker 1: turned away asylum seekers. Immigration authorities stopped migrants more than
Speaker 1: two d one thousand times along the southwest border in March,
Speaker 1: the highest in nearly two decades. Global News twenty four
Speaker 1: hours a day on here and on Bloomberg quick Take,
Speaker 1: powered by more than twenty seven hundred journalists and analysts
Speaker 1: in more than a hundred twenty countries. I'm Michael bar
Speaker 1: This is Bloomberg, Nathan. Thank you, Michael don't know. To
Speaker 1: six ten on Wall Street. Time for the Bloomberg Sports
Speaker 1: Update with John Steenshaw. All right, Nathan. First of the
Speaker 1: game tunes first round of the NBA Playoffs in Philadelphia
Speaker 1: six or second straight rout of Toronto. On ninety seven,
Speaker 1: Joe l MB scored thirty one in Dallas. The MAVs
Speaker 1: were again without their star Luka Dontcheon, but Jalen Brunson
Speaker 1: poured in a career high forty one points one ten
Speaker 1: one oh four over Utah to tie that series of one.
Speaker 1: Golden State Fights twenty over Denverse Steph Curry off the
Speaker 1: bench to score thirty four points in just twenty three minutes,
Speaker 1: and the Warriors go up to zip the Celtics. Mark
Speaker 1: Is Smart named Defensive Player of the Year, first guard
Speaker 1: to win the awards, and Gary Peyton six and Peyton,
Speaker 1: the Hall of Famer, went to Celtics practice in Boston
Speaker 1: to tell Smart he had won Celtics Nets Game two
Speaker 1: tomorrow in Boston. Rangers are the Winnipeg Jets tonight that
Speaker 1: they guard in Carolina. Won last night to the Keynes
Speaker 1: lead the Rangers by two points as they battle to
Speaker 1: win the Metropolitan Division. Mets and Giants reined out single
Speaker 1: admission doubleheader starts just after three o'clock. Tyler McGill yet
Speaker 1: to allow a run and two starts. Goes in the
Speaker 1: opener and Max scherz Or pitches the nightcap his first
Speaker 1: met start at City Field. Garrett Cole for the Yankees
Speaker 1: tonight in Detroit. Jake Carrietta, retiring at age thirty six,
Speaker 1: struggled in recent years. Arietta won the National League Cy
Speaker 1: Young Award back in two thousand fifteen while with the Cubs.
Speaker 1: NFL Draft starts a week from Thursday in Las Vegas
Speaker 1: been a lot of quarterback movement this offseason. Could be
Speaker 1: another move before the draft of Carolina still looking for
Speaker 1: a QB and said to be trying to acquire Baker
Speaker 1: Mayfield from Cleveland Browns Evenue QB Deshaun Watson. Speaking of quarterbacks,
Speaker 1: the latest edition of Made for TV Golf would be
Speaker 1: June one in Las Vegas. Tom Brady and Aaron Rodgers
Speaker 1: versus Patrick Mahomes and Josh Allen, John Stash Howard Bloomberg
Speaker 1: Sports Nathan Okay, John, thank you. SMP future is now
Speaker 1: down thirteen points, Stout futures down seventy six, DANSAC futures
Speaker 1: lower by sixty four points. The tenure treasury is down
Speaker 1: nine thirty seconds. The yield very close to two point
Speaker 1: eight nine percent. This is Bloomberg Bloomberg eleven three or
Speaker 1: whether cill under floodwatch till late this morning. It'll turn
Speaker 1: mostly sunny this afternoon, breezy, mid fifties for highs upper
Speaker 1: fifties tomorrow. Clouds returned Thursday with highs in the low sixties.
Speaker 1: Right now forty one in Central Park Markets. Headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot
Speaker 1: Com the Bloomberg Business at and at Bloomberg quick Take,
Speaker 1: This is a Bloomberg business flash and I'm Karin Moscow.
Speaker 1: You west Dock Index futures are lower along with European shares,
Speaker 1: while bonds around the globe slump as investors way the
Speaker 1: prospect of aggressive policy action to curb inflation. We checked
Speaker 1: the markets every fifteen minutes throughout the trading day on
Speaker 1: Bloomberg s and P future is down about nine points
Speaker 1: and down futures down thirty eight, NASTAG futures down forty two.
Speaker 1: The decks in Germany's down one percent. The ten year
Speaker 1: treasury down eight thirty seconds, yield two point eight eight percent,
Speaker 1: yield on the two year two point four six percent.
Speaker 1: Nine x Screwed oil is down one point six percent
Speaker 1: on a dollar seventy three and a hundred six dollars
Speaker 1: forty eight cents of barrel comics gold is down four
Speaker 1: ten percent or eight dollars thirty cents in nineteen seventy
Speaker 1: eight an ounce, the euro one point oh seven nine
Speaker 1: one against the dollar, British found one point three zero
Speaker 1: one eight and the en one eight point three two
Speaker 1: and bitcoin this morning it's now higher up a tenth
Speaker 1: of a percent at forty thousand, seven hundred twenty dollars.
Speaker 1: And today we are getting reports on housing starts, in
Speaker 1: building permits at eight thirty Wall Street Time and Netflix
Speaker 1: among companies scheduled to report earnings today. That's a Bloomberg
Speaker 1: business flash. Now here's Michael bar with Moore on what's
Speaker 1: going on around the world. Michael Karen, thank you very much.
Speaker 1: After days of regrouping and reinforcing, the Russian military began
Speaker 1: a new phase of the war in Ukraine. Training and
Speaker 1: officials said that the Kremlin's forces launched a full scale
Speaker 1: ground offensive to take control of the country's industrial heart
Speaker 1: land and down the screen agent. Most major US airlines
Speaker 1: are no longer requiring travelers or employees to wear face
Speaker 1: coverings on domestic and some international flights. The decisions came
Speaker 1: after a US judge overturned the federal mandate for passengers
Speaker 1: to cover their faces. In MLB, the Red Sox lost
Speaker 1: the A's Meat the Orioles five one. In the NBA Playoffs,
Speaker 1: The Warriors beat the Duggets to leave the series two
Speaker 1: games to zip. In the NHL, the Devil's and Capitals one.
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 lest more than a hundred twenty countries.
Speaker 1: Michael Barren, this is Bloomberg. Nay, Okay, Michael, thank you.
Speaker 1: It is six nineteen on Wall Street Live from the
Speaker 1: Bloomberg Interactive Brokers Studios. This is Bloomberg Daybreak. We're really
Speaker 1: pleased to be speaking this morning with liz Anne Saunders,
Speaker 1: chief investment strategist at Charles Schwab. Great to have you
Speaker 1: on with us this morning, Liz, and and obviously a
Speaker 1: lot of attention this morning on the comments we heard
Speaker 1: yesterday from the President of the St. Louis Fed, James Bullard,
Speaker 1: obviously a very a vocal hawk, but he's saying, seventy
Speaker 1: five basis points, you can't rule it out next month.
Speaker 1: Is that talk to you? Pay attention to? Um? Yeah,
Speaker 1: I think you know. This parlor game that's been going
Speaker 1: on of how many rate hikes to expect the full year,
Speaker 1: I think miss is what the Fed is attempting to do,
Speaker 1: which is front end load many of these rate hikes. Now,
Speaker 1: whether it's seventy five or not, that that I think
Speaker 1: that's a little bit bold. I don't. I don't do
Speaker 1: that as a prediction or forecast on his part. I
Speaker 1: think fifty is still the base case, but it's probably
Speaker 1: gonna be fifty at at least two or three meetings,
Speaker 1: so that they can get closer to the neutral rate
Speaker 1: in UH in a shorter amount of time, which may
Speaker 1: give them some breathing room to not have to be
Speaker 1: as aggressive towards the end of the year. But we'll see. Now,
Speaker 1: if we do see that kind of front end loading
Speaker 1: by the FED, those that kind of aggressive move successively,
Speaker 1: how does that affect your strategy in this market? Well, uh,
Speaker 1: you know what the confirmation hearing that all had I
Speaker 1: think one of the more interesting things that happened was
Speaker 1: when Richard Shelby asked him whether he'd be willing to
Speaker 1: accept a recession as Volker did in order to um
Speaker 1: sort bring down inflation, and he paused and said, very thoughtfully,
Speaker 1: I think the history will show that the answer to
Speaker 1: that question is yes. Now, I don't think that means
Speaker 1: FETE officials are gunning for a recession, but that may
Speaker 1: be what it takes in order to reign in aggregate
Speaker 1: demand sufficient enough to bring inflation down, given that they
Speaker 1: obviously can't directly target food or energy prices as it
Speaker 1: ties into the Iraq war. They can't ramp up semiconductor production,
Speaker 1: but they can ease aggregate demand. And they're starting this
Speaker 1: this process of more aggressive rate hikes with growth already slowing.
Speaker 1: It's you know, Atlanta Fete is accurate. We're only at
Speaker 1: one in the first quarter. Battling a forty year high
Speaker 1: in inflation while you're at sub two percent growth. Is
Speaker 1: a very unique set of socumstances. I think investors have
Speaker 1: to be somewhat cautious. UM adopt the disciplines around diversification
Speaker 1: and rebalancing, and UM that's where we are. How do
Speaker 1: you rebalance? Do you look at different sectors, do you
Speaker 1: look at different styles? What's the strategy? Well, rebalancing obviously
Speaker 1: you're letting your portfolio tell you what to do. In
Speaker 1: that asset classes move in and out of favor, and
Speaker 1: they therefore adjust relative to your strategic allocations. So one
Speaker 1: of the things we've been suggesting is if you are
Speaker 1: typically if you're rebalancing, is done either by an advisor
Speaker 1: or yourself on a calendar basis, meaning you might rebalance
Speaker 1: on a quarterly basis at the end of the year,
Speaker 1: consider having it be more portfolio based, volatility base, take
Speaker 1: advantage of volatility, maybe up the pace of rebalancing. We've
Speaker 1: also adopted, uh about six weeks ago sector neutrality, feeling
Speaker 1: like trying to sort of play a short term sector
Speaker 1: game is going to be a bit trickier. What has
Speaker 1: been more consistent is factor based investing, So leadership at
Speaker 1: the factor level and I look at the Bloomberg factors
Speaker 1: on a day to day basis, that's where there's been
Speaker 1: more consistency. And this is a time in the cycle
Speaker 1: where you absolutely want to focus on quality. Defensive areas
Speaker 1: have been doing well, but there's a way to play
Speaker 1: defense even in segments of the market that are generally
Speaker 1: considered more offensive. You just want to stay focused on
Speaker 1: those quality characteristic strong balance sheets, strong cash flow yield um,
Speaker 1: strong dividend yield, and positive earnings revisions in an environment
Speaker 1: where those are are harder to find these days. Got
Speaker 1: about a minute left here, Lizie, and does an inflation
Speaker 1: fighting fed have an impact on the earnings outlook for corporations? Well,
Speaker 1: we have seen a little bit of a rolling over
Speaker 1: in the forward profit margins. I don't think we'll end
Speaker 1: this season of the serious dent to profit margins, but
Speaker 1: I think that will be the bigger story going forward. Uh.
Speaker 1: You know, a lot of there's a misperception out there
Speaker 1: that a strong pp I is negative for a profit margins.
Speaker 1: Actually more US companies benefit from a higher p p I.
Speaker 1: But the labor cost component is such a large part
Speaker 1: of the input costs that I think the story going
Speaker 1: into next quarter earning season will probably be more about
Speaker 1: a compression coming in profit margins, unless there's an eating
Speaker 1: in some of these labor cost pressures. Thanks for this, Liz,
Speaker 1: and again great having you on with us. Liz Anne Saunders,
Speaker 1: chief investment strategist at Charles Schwab. Looking ahead to this market,
Speaker 1: open futures are moving lower. We have SMP futures down
Speaker 1: almost six points down, down futures down twenty two, NASTAC
Speaker 1: futures lower by twenty seven points. The ten your treasury
Speaker 1: is down eight thirty seconds, the yield two eight percent,
Speaker 1: and the yield on the two year right now two
Speaker 1: point four six per cent. You're listening to Bloomberg Daybreak
Speaker 1: Bloomberg eleventh three oh. Weather is still under the flood
Speaker 1: watch too late this morning. It'll turn mostly sunny and
Speaker 1: breezy this afternoon, with a hind in the mid fifties,
Speaker 1: sunshine upper fifties tomorrow, low sixties, mostly cloudy by Thursday.
Speaker 1: Right now forty degrees. Broadcasting live from the Bloomberg Interactive
Speaker 1: Broker Studio in New York. Bloomberg E Living Freedom to Washington,
Speaker 1: d C, Bloomberg nine one to Boston, Bloomberg one O
Speaker 1: six one to San Francisco, Bloomberg NUN sixty to the country,
Speaker 1: Sirius XM to the one nine team, and around the
Speaker 1: globe the Bloomberg Business app and Bloomberg Radio dot Com.
Speaker 1: This is Bloomberg Daybreak, six thirty on Wall Street. Good morning,
Speaker 1: I'm Nathan Hager and I'm Karen Moscow, and we're just
Speaker 1: about three hours away from the open of US trading.
Speaker 1: It's time for the five things you need to notice
Speaker 1: start your day. Ought to you by Interactive Broker Simple
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Speaker 1: Start your free trial at ibkr dot com, Slash Global
Speaker 1: Trader at First, Russia's military shells, Southern and eastern Ukraine
Speaker 1: as its invasion continues. President vladimir's Lensky says Moscow is
Speaker 1: focused on conquering the eastern don Bus region that Russian
Speaker 1: troops begun the battle for the dome Bus for which
Speaker 1: they have been preparing for a long time. A significant
Speaker 1: part of the entire Russian army is now concentrated on
Speaker 1: this offensive. Ukrainian President vladimir's Lensky says his nation will
Speaker 1: continue to defend the region, and US President Joe Biden
Speaker 1: behold a call with key allies today to discuss the war. Meantime,
Speaker 1: car in the US is expected to participate a Group
Speaker 1: of twenty meetings this week even if Russia attends. Treasury
Speaker 1: Secretary Janet Yellen had previously said the US made boycott
Speaker 1: some meetings should Russia participate, but a senior Treasury official
Speaker 1: says Yellen does not want Russia to stop the US
Speaker 1: and allies from the work it needs to do at
Speaker 1: the G twenty. Well admit the fallout from the war,
Speaker 1: Nathan World Bank chief economist Carmen Reinhart tells Bloomberg gets
Speaker 1: cutting it's two economic outlook. Will it be cut again? Certainly?
Speaker 1: Wouldn't rule it out. But the point I'm making is
Speaker 1: we are living a period of receptional and certain World
Speaker 1: Bank Chief economist Carmen Reinhart says it's lowering estimates for
Speaker 1: global growth from a four point one percent in January
Speaker 1: eight to three point two percent and back in the US.
Speaker 1: New guidance on masks from the nation's biggest airlines and
Speaker 1: rides sharing Giant Uber. Let's get the details life from
Speaker 1: Bloomberg's You needed Young, We need a good morning. Good morning, Nathan.
Speaker 1: Most major airlines are dropping mask mandates on domestic and
Speaker 1: some international flights. It comes after a US judge overturns
Speaker 1: of federal mask mandate for passengers, so the five largest
Speaker 1: US carriers say the use of masks will be optional
Speaker 1: for both passengers and staff and just this morning rides
Speaker 1: here Giant Uber says it will no longer require drivers
Speaker 1: or riders to wear masks in the US, but if
Speaker 1: you feel uncomfortable, Uber as you can cancel a ride,
Speaker 1: and asks riders and drivers to be respectful if people
Speaker 1: prefer wearing a mask. Live in New York, I'm Nita Young,
Speaker 1: Bloomberg Day Break a right, Nita, Thank you and tech
Speaker 1: Giant Netflix reporting earnings today. Analysts will look at how
Speaker 1: a recent price increase in suspension of service in Russia
Speaker 1: impacts first quarter results. We did watch earnings from Johnson,
Speaker 1: and Johnson crossed the Bloomberg first quarter profit, beating analysts estimates,
Speaker 1: but it lowered its outlook for the year and said
Speaker 1: it's suspending. It's COVID nineteen vaccine sales guidance. That's the
Speaker 1: five things you need to notice start your day. Brought
Speaker 1: to you by Interactive Brokers, and this is Bloomberg. Thank you.
Speaker 1: Karen six thirty three on Wall Street, forty degrees in
Speaker 1: Central Park and we have got big delays on the
Speaker 1: g w B. Details coming up in traffic. First, Michael
Speaker 1: bar with more on what's going on in New York
Speaker 1: and around the world. Michael, thank you very much. Nathan,
Speaker 1: Will New York City bring back an indoor mask mandate
Speaker 1: like Philadelphia COVID nineteen case numbers are rising and filling
Speaker 1: in other cities. Mayor Eric Adams says New York is
Speaker 1: not at the point of mandating right now. We are
Speaker 1: encouraging New York is, you know, with a mask if
Speaker 1: you feel uncomfortable, if you don't know the satisfy Presson's
Speaker 1: vaccine if yet gatherments. So there is an encouragement we
Speaker 1: put out to New York is we just not have
Speaker 1: to place a mandate right now. Mayor Adams says hospitalizations
Speaker 1: and deaths are at steady levels in the city. U
Speaker 1: S Customs says the number of migrants attempting to cross
Speaker 1: the US Mexico borders surged in recent weeks. It comes
Speaker 1: as the US prepares for even larger numbers with the
Speaker 1: expected lifting of a pandemic era order that turned away
Speaker 1: asylum seekers. Authorities say that there was a thirty four
Speaker 1: percent increase in stop migrants at the Southwest border in
Speaker 1: March compared to the previous month. The US will not
Speaker 1: test some anti satellite weapons in space. The move comes
Speaker 1: as Moscow blew up a dead satellite last November with
Speaker 1: a ground launched missile. Vice President come Alla Harris says
Speaker 1: that space debris could endanger the International Space Station or
Speaker 1: spacecraft debris presents a risk to the safety of our astronauts,
Speaker 1: our satellites, and our growing commercial presence. Vice President Harris
Speaker 1: says fast moving debris the size of a basketball could
Speaker 1: destroy a satellite. The fiancee of former President Donald Trump's
Speaker 1: eldest son, Kimberly Gilfoyle, is said to have met with
Speaker 1: the House Committee yesterday investigating the US Capitol Riot. Lawmakers
Speaker 1: say she raised funds for the rally and was in
Speaker 1: direct contact with its key participants. A lawyer for recently
Speaker 1: resigned New York Lieutenant Governor Brian Benjamin told Manhattan judge
Speaker 1: yesterday that he expects to challenge corruption charges brought against
Speaker 1: Benjamin last week. The charges include bribery, fraud, and conspiracy.
Speaker 1: The Supreme Court has rejected a challenge from New York,
Speaker 1: New Jersey, Connecticut, and Maryland to the twenties seventeen tax
Speaker 1: law that cap federal tax deductions for state and local taxes.
Speaker 1: The stud argued that the Republican led tax law, signed
Speaker 1: by then President Donald Trump unfairly singled out high tax
Speaker 1: states in which Democrats predominant. The law caps a deduction
Speaker 1: for state and local taxes known as salt, at ten
Speaker 1: thousand dollars. In sports, the Yankees they will visit Detroit
Speaker 1: Tangle tonight. Meanwhile, the Mets will host the Giants. Yesterday
Speaker 1: in MLB, the Red Sox lost The A's beat the
Speaker 1: Orioles five one in the NBA Playoffs, the Warriors beat
Speaker 1: the Nuggets to lead the series two games to zip.
Speaker 1: In the NHL, The Devil's and Capitals One Global News
Speaker 1: twenty four hours a day on air and on Bloomberg
Speaker 1: Quick Take, powered by more than twenty seven under journalist
Speaker 1: analyst in more than twenty countries. Michael Barr And this
Speaker 1: is Bloomberg. Nathan. Okay, Michael, thank you. It is six
Speaker 1: thirty six on Wall Street Time. Now to take a
Speaker 1: look at stuck, some of the names moving in the
Speaker 1: pre market it and for that we're joined by Bloomberg
Speaker 1: Radio and TV Markets correspondent Pretty Gupta. Already getting off
Speaker 1: to a busy start, creaty with earnings crossing the Bloomberg.
Speaker 1: I know, I'm still rubbing the sleep out of my eyes. NATS. Sorry,
Speaker 1: Here we are with a lot of breaking news. Let's
Speaker 1: start off with Johnson Johnson J and Jay's your taker
Speaker 1: down three and a half percent this morning. This comes
Speaker 1: after Johnson Johnson suspends its COVID nineteen vaccine sales guidance
Speaker 1: due to a global supply surplus and demand uncertainty. Now
Speaker 1: the forecast is going to be everything excluding vaccines. Now
Speaker 1: it is worth noting that Johnson Johnson does not have
Speaker 1: the majority share of vaccines of course, still falls behind
Speaker 1: Maderna and Fiser Fiser, which which does have the majority
Speaker 1: of a vaccine distribution at least here in the United States.
Speaker 1: So this might not necessarily that material as opposed to
Speaker 1: another one of its competitors, but still we're going to
Speaker 1: keep an eye on these shares. J and J down
Speaker 1: three and a half percent. And in that kind of
Speaker 1: COVID related news, the mask mandate, you've had several reports
Speaker 1: on it this morning. You are seeing a little bit
Speaker 1: of a read through into the stock market as well,
Speaker 1: now that there is no requirement for masks to be
Speaker 1: worn on public transportation that includes airlines, that even includes Uber,
Speaker 1: So you are seeing a little bit of movement, especially
Speaker 1: for the airlines where you did see a lot of
Speaker 1: hesitancy four passengers to be wearing masks on the planes
Speaker 1: of the likes of American Airlines A L as your taker,
Speaker 1: up three tents of a percent, United U A L
Speaker 1: up three tents of a percent as well, and Delta
Speaker 1: D a L also up about half a percent. This
Speaker 1: is significant on a risk off morning. You're seeing airlines
Speaker 1: post a little bit of green, So that's interesting in
Speaker 1: Uber as well. Um in the same vein, saying it's
Speaker 1: no longer going to ask riders and drivers in the
Speaker 1: United States to wear masks, joining a growing number of
Speaker 1: major transport providers shifting their policy. Uber shares are about flat,
Speaker 1: but anything can happen, Nathan, Yeah, it'll be interesting to
Speaker 1: see whether there's a pop or even a divergence between
Speaker 1: Uber and Lift. We haven't heard a similar announcement from
Speaker 1: Uber's competitor. How about a Twitter update created a Twitter update,
Speaker 1: So much update I can do, Nathan W. T R
Speaker 1: shares are down about half a percent. This is interesting
Speaker 1: because they were down by much more earlier in the session,
Speaker 1: so you are clearly seeing a lot of movement here.
Speaker 1: Remember this morning that this uh stock has the most
Speaker 1: pre market volume out of all the other stocks in
Speaker 1: the SNP five hundred, so keep an eye on it.
Speaker 1: Naturally comes after headlines from Apollo Global saying it's potentially
Speaker 1: interested in helping finance a bid for Twitter. This course
Speaker 1: follows elon Must forty billion dollar unsolicited offer to take
Speaker 1: the company private, all according to people familiar with the matter.
Speaker 1: Apollo has not yet commented But this is significant because
Speaker 1: we've talked a lot about the potential of Elon Musk
Speaker 1: to bring on another bidder like private equity firm tom
Speaker 1: A Bravo, or use debt to kind of support their offer. Remember,
Speaker 1: as I'm gonna use Ed Ludlow's phrasing here, Elon Musk
Speaker 1: is certainly the richest man in the world, but he
Speaker 1: is cash poor. So to make this investment happen, um
Speaker 1: sometimes you have to kind of leverage Tesla shares, or
Speaker 1: leverage other properties or etcetera, other holdings. So that's going
Speaker 1: to be the concern here. Now a Polo Global allegedly
Speaker 1: interested in helping finance that bed. We'll keep an eye
Speaker 1: on that for you. T w t R down about
Speaker 1: half percent, but it's not the only story this morning
Speaker 1: that's moving. I want to introduce a plug power p
Speaker 1: l u G is your taker up four and a
Speaker 1: half percent, once again, on the background of a risk
Speaker 1: off day. Four and a half percent is nothing to
Speaker 1: scoff at. Announcing an agreement with Walmart for an option
Speaker 1: to deliver up to twenty tons per day of liquid
Speaker 1: green hydrogen to power material handling lift trucks across distribution
Speaker 1: and fulfillment centers in the United States. Now, remember plug Powers,
Speaker 1: one of those TV companies that soared with likes of Tesla,
Speaker 1: with likes of Ribban because they provide that clean energy.
Speaker 1: And you can see getting a very strong contract from
Speaker 1: Walmart this morning. Nathan Yeah, from one of the biggest
Speaker 1: retailers in the world. Bloomberg Radio on TV Markets correspondent
Speaker 1: Crety Gupta, as always, thanks for keeping us up to
Speaker 1: speed on what's happening in the pre market. Looking ahead
Speaker 1: to the open, it is a down session with SMP
Speaker 1: futures down seven points right now, DAL futures down forty
Speaker 1: six and NASTAC future is lower by thirty points ten.
Speaker 1: Your treasuries down nine thirty seconds. The yield two point
Speaker 1: eight eight percent yield on the two year two point
Speaker 1: four six nim X cruds down one and a half percent.
Speaker 1: Down a dollar fifty seven hundred six dollars sixty four
Speaker 1: cents gets your barrel of West Texas Intermediate. You're listening
Speaker 1: to Bloomberg Daybreak Bloomber eleven three oh weather flood watch
Speaker 1: for about another hour or so. Will turn mostly sunny
Speaker 1: this afternoon with a high in the mid fifties. Upper
Speaker 1: fifties tomorrow, low sixties on Thursday right now forty degrees
Speaker 1: in Central Park Markets, headlines and breaking news twenty four
Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business
Speaker 1: at and at Bloomberg Quicktape is a Bloomberg Business Flash. Hey,
Speaker 1: good morning, I'm Cameron Moscow, and futures are lower this morning.
Speaker 1: It's another busy morning for corporate earnings, and we go
Speaker 1: to the first word breaking news dance for today's morning call.
Speaker 1: Here's Bill Maloney, Bill, good morning, Good morning, Karen. That's right.
Speaker 1: Modest losses in the futures right now. DEAF futures down
Speaker 1: at forty eight point sysme drops seven. Nastick futures are
Speaker 1: off by twenty eight. The US ten yield at two
Speaker 1: point eight eight percent, Gold is down three, Oil trading
Speaker 1: lower and bitcoin is little changed. Hong Kong fell two
Speaker 1: point three percent overnight, while Europan markets are also in
Speaker 1: the red this morning, and back in the US. On
Speaker 1: the economic front, at a thirty, Housing starts Regarding earnings,
Speaker 1: Jane j caught its forecast and suspended its code vaccine
Speaker 1: guidance and hasbroke EPs missestimates. In deal news, people familiar
Speaker 1: so that Apollo is considering backing Elon Musk and his
Speaker 1: bid for Twitter, and Zendesk is said to be working
Speaker 1: on a potential sale. In other news, Fedsboard says a
Speaker 1: semi five basis point Hi could be an option if needed,
Speaker 1: and wrapping things up, app love and was rated a
Speaker 1: new by over at Goldman Sachs Live from the First
Speaker 1: Breaking news desk on Bill Maloney, Karen, very Bill, thank
Speaker 1: you and yeah. Watching john S and Johnson stock this morning,
Speaker 1: down two point six percent in early trading, and to
Speaker 1: hear live breaking news over your Bloomberg type swalk on
Speaker 1: your termin I'll sk you a w K. That's a
Speaker 1: Bloomberg business flash. Now here's Michael Barr with more on
Speaker 1: what's going on around the world. Michael, Karen, thank you
Speaker 1: very much. Russia's military targeted regions in Ukraine's south and
Speaker 1: east overnight for shilling. Ukrainian President Volodimir z Lenski says
Speaker 1: Moscow has been on a new campaign to conquer the
Speaker 1: don Bs area in the east of the country. The
Speaker 1: fiance a former President Donald Trump's eldest son, Kimberly Gilfoyle,
Speaker 1: met with the House committee investigating the US Capitol Riot
Speaker 1: and attorney representing Gilfoyle has previously stated that she has
Speaker 1: done nothing wrong. And MLB. The Red Sox lost, The
Speaker 1: A's beat the Orioles five one in the NBA Playoffs.
Speaker 1: The Warriors beat the Nuggets to leave the series two
Speaker 1: games to zip. In the NHL. The Devil's and Capitol's
Speaker 1: One Global news twenty four hours a day on air
Speaker 1: and on Bloomberg Quick Take, powered by more than twenty
Speaker 1: seven hundreds and journalists and analysts more than a hundred
Speaker 1: twenty countries. I'm Michael Barn. This is Bloomberg. Caren alright,
Speaker 1: Michael Barr, thank you. At A six forty nine on
Speaker 1: Wall Street. We turned to news and science and technology now.
Speaker 1: But the Bloomberg and j I T. STEM Report brought
Speaker 1: to you buy New Jersey Institute of Technology, ranked top
Speaker 1: fifty national public university by US News and World Report,
Speaker 1: in the top ten for best career placement among public
Speaker 1: schools by the Princeton Review. Learned more at n J
Speaker 1: I T DOT E d U and now here's this
Speaker 1: making news in science, Technology, engineering, and math. Most major
Speaker 1: US airlines are no longer requiring travelers or employees to
Speaker 1: wear masks on domestic and some international flights that came
Speaker 1: hours after a federal judge overturned a mandate for passengers
Speaker 1: to cover their faces. Uber has also lifted the mask mandate,
Speaker 1: and Shanghai authorities reported seven more deaths from the coronavirus.
Speaker 1: China's financial hub is grappling with a record outbreak that's
Speaker 1: brought unprecedented disruptions to residents and threatens the countries he
Speaker 1: can have a growth that only five million people living
Speaker 1: in Shanghai have been locked down for weeks, and the
Speaker 1: flight debut of NASA's Mega Moon rocket faces additional delays
Speaker 1: following a string of failed fueling test Officials say it'll
Speaker 1: be challenging to meet a launch window in early to
Speaker 1: mid June. The next opportunity to send an empty capsule
Speaker 1: to the Moon on a test flight would be at
Speaker 1: the end of June or July. The thirties store thirty
Speaker 1: story Space launch System or rocket, has been on the
Speaker 1: padded Kennedy Space Center for the past month. It will
Speaker 1: return to the hangar next week for valve and fuel
Speaker 1: leak repairs and as the Bloomberg n j I t
Speaker 1: stem reboard. Nathan Okay, Karen thank you. We are live
Speaker 1: from the Bloomberg Interactor Broker Studios, where it's coming up
Speaker 1: to six fifty one on Wall Street Time Now to
Speaker 1: check what's going on in DC. Some of the top
Speaker 1: stories in our nation's capital include the US halting the
Speaker 1: mask mandate on planes, trains, and buses, President Biden hosting
Speaker 1: a call this morning with allies on the war in Ukraine,
Speaker 1: and Treasury Secretary Yelling backing away from boycotting some G
Speaker 1: twenty sessions. Bloomberg Washington correspondent Joe Matthew is back with
Speaker 1: us to breakdown more on all these stories. Of course,
Speaker 1: the host of sound on here on Bloomberg Radio. Let's
Speaker 1: start off with what's happening in Ukraine, Joe. Obviously we've
Speaker 1: heard the dawn Boss offensive has begun. What are we
Speaker 1: expecting as the President gets ready for this virtual call
Speaker 1: later this morning, A pretty stark statement to hear that
Speaker 1: from President Zelenski the battle has begun. It's a little
Speaker 1: earlier than some had expected, Nathan, And when we talked
Speaker 1: to military analysts, Russia seemed to have regrouped a bit
Speaker 1: more quickly, and there was a thought that that Moscow
Speaker 1: might wait for Mariuple to fall, so it could bring
Speaker 1: those Russian troops into the dun Boss fight. So they're
Speaker 1: going into this with a slightly smaller force than some expected.
Speaker 1: To your point, the President will meet this morning with
Speaker 1: our European allies and partners on a couple of matters.
Speaker 1: There's gonna be talk about another layer of sanctions, and
Speaker 1: that seems to be the case every time they meet.
Speaker 1: This could uh specifically be looking at banking and more
Speaker 1: specifically Sure Bank, possible European oil band as well, though
Speaker 1: that could be weeks off depending on how many feels
Speaker 1: about that, but also delivering weaponry, and there were four
Speaker 1: airplanes that arrived in Europe on Sunday that we we
Speaker 1: heard about yesterday from Jensaki, the White House Press secretary.
Speaker 1: They are full of the heavy artillery, the howitzers, the
Speaker 1: armored troop carriers, and some of the other equipment cleared
Speaker 1: in that recent eight hundred million dollar tronche of weapons
Speaker 1: that's on its way to Ukraine. The question is, Nathan,
Speaker 1: can we get it there quickly enough into Ukraine and
Speaker 1: stage that in the areas in the east where they
Speaker 1: are most needed in time for the Ukrainian forces to
Speaker 1: meet the Russians. I'll add that we're gonna be apparently
Speaker 1: providing how it's her training to Ukrainian forces outside of
Speaker 1: Ukraine that could start as soon as they arrive, as
Speaker 1: soon as today, and pretty interesting to consider what we've
Speaker 1: heard from Vladimir Putin that he's open to attacking supply
Speaker 1: lines from the US from NATO that are going into Ukraine.
Speaker 1: I'm sure they're going to be keeping a very tight
Speaker 1: lit on where that training is going to take place.
Speaker 1: And that brings back the is concern that has been
Speaker 1: expressed by the US and NATO allies about being drawn
Speaker 1: more directly into the war. What is the level of
Speaker 1: concern at this point as those weapons start to move
Speaker 1: even more quickly into your You know, it's interesting, it
Speaker 1: depends when you talked to you raised a lot of eyebrows.
Speaker 1: On Sunday, UH Senator Chris Coon's, the Democrat from Delaware,
Speaker 1: what I was considering the most underreported story of the weekend.
Speaker 1: This is the man who sits in Joe Biden's old
Speaker 1: Senate seat, a close confident of the White House calling
Speaker 1: on national television to open the conversation about considering the
Speaker 1: addition of American ground troops in Ukraine. The level of
Speaker 1: pressure that lawmakers are hearing as these horrifying images come
Speaker 1: from places like Mariopolambucha is going to only increase the
Speaker 1: pressure to do more. His line was, Vladimir Putin will
Speaker 1: not stop unless we stop him. The White House reacted
Speaker 1: to that yesterday. Press Secretary Saki was asked about it.
Speaker 1: They say, quote, we respectfully disagree unquote. Wow. Very interesting
Speaker 1: to hear that kind of line drawn between the president and,
Speaker 1: as you say, a senator who is very close concident
Speaker 1: to President Biden. We're also watching the World Bank I
Speaker 1: MF meetings, of course, the G twenty meeting on the sidelines,
Speaker 1: and now there's a little bit of pullback from Treasury
Speaker 1: Secretary yelling on this stance of if Russia is going
Speaker 1: to take part in these meetings, we're not going to go. Yeah,
Speaker 1: this is an interesting wrinkle. At one point that the
Speaker 1: Secretary was going to avoid these meetings altogether, uh as
Speaker 1: Russia was planning to attend G twenty, remembering that China
Speaker 1: and India are in the G twenty. They are not
Speaker 1: prepared to kick Russia out or do anything about Russia's
Speaker 1: status here. But it looks like Yellen will attend some sessions.
Speaker 1: There are questions about whether it would be more effective though,
Speaker 1: because by the way, Ukraine has representatives here they need
Speaker 1: to get some work done with the US, and she'll
Speaker 1: be there for that. Questions about whether it would be
Speaker 1: effective for Yelling to show up at meetings one in
Speaker 1: particular and economic architecture where we know the Russians will
Speaker 1: be there and stand up, face off with them, call
Speaker 1: them out on a global level. At the G twenty meeting,
Speaker 1: it would it would provide some monster headlines for this administration,
Speaker 1: though it is not expected to have them. Got a
Speaker 1: couple of minutes left here, Joe got to talk about
Speaker 1: the end potentially of the mask mandate in public transportation.
Speaker 1: At least it's not gonna be enforced at the moment. Well,
Speaker 1: that's true. Uh. They again, the White House not too
Speaker 1: happy about this. They say they're disappointed in the decision.
Speaker 1: It emerged just before yesterday's White House briefing. The CDC
Speaker 1: has since weighed in to say, you know, the mandate
Speaker 1: is down, certainly for now. And this follows the Supreme
Speaker 1: Court knocking down President Biden's workplace vax or mask mandate.
Speaker 1: It's gonna be very now that airlines have acted in
Speaker 1: Uber to your point, you were just talking about that
Speaker 1: a little while ago on the program. Uber is following
Speaker 1: as well. The mandates are down, it's gonna be essentially
Speaker 1: impossible to get the toothpaste back into tube here. If
Speaker 1: that is what comes from this, the d o J
Speaker 1: is looking at it. Nathan. We don't know if there
Speaker 1: will be a legal answer to this. Will wait to
Speaker 1: hear more today. Well. Is there a possibility though that
Speaker 1: there could be legal points back as you say, the
Speaker 1: dominoes have fallen, that's when it's gonna be tough to
Speaker 1: set a back up. Well, and there was no legal
Speaker 1: answer to the workplace mandate. The d o J says
Speaker 1: it is reviewing the decision. Will let you know if
Speaker 1: we hear more. And finally in our last minute here, uh,
Speaker 1: the January six committee still working, still talking to people
Speaker 1: very close to former President Trump. Yeah, that's right, Kimberly
Speaker 1: Gilfoyle was the most recent to sit down. There are
Speaker 1: questions about, you know exactly how and when this is
Speaker 1: gonna end, Nathan. We're in the middle of a mid
Speaker 1: term election year and and Democrats would like to get
Speaker 1: the work done before voters hit the polls and not.
Speaker 1: Of course, Republicans would prefer this not drag out throughout
Speaker 1: the year as well. There are questions and some suggesting
Speaker 1: that they hold prime time televised hearings to bring Americans
Speaker 1: in on what they have learned. We simply don't know
Speaker 1: exactly what they're sitting on. At some point here, this
Speaker 1: needs to go public. We need to report out there
Speaker 1: so the country can move on. Now. You got to
Speaker 1: think that that report, at least for the Democrats, they'd
Speaker 1: like to get it done before the midterms. Joe Matthew
Speaker 1: always good to speak with you, Bloomberg Washington, corresponded Joe Matthew,
Speaker 1: host of Sound on which you could hear this afternoon
Speaker 1: in every afternoon five pm Wall Street time weekdays on
Speaker 1: Bloomberg Radio. Read more on Bloomberg dot Com or on
Speaker 1: the Bloomberg terminal, and listen to Bloomberg Radio in Washington
Speaker 1: A Bloomberg and one oh five point seven FM HD two.
Speaker 1: Look at your Head to the market Open futures are
Speaker 1: moving lower. Bloomberg Surveillance Straight Ahead with Tom Keene, Jonathan Faroll,
Speaker 1: and Lisa Bramowitz for Karen Moscow I'm Nathan Hagar. This
Speaker 1: is Bloomberg