Speaker 1: Live from the Bloomberg Interactive Brooker Studios. This is Bloomberg
Speaker 1: day Break for Tuesday, June seven two. Coming up the shower.
Speaker 1: Boris Johnson survives as UK Prime Minister, but the question
Speaker 1: is for how long? Russia bands Dozens, including Janet Yellen
Speaker 1: and Black Rocks CEO Larry Thing keep primaries today in
Speaker 1: seven states, including California and New Jersey, and looks like
Speaker 1: Buyer's remorse won't get Elon Musk out of his Twitter acquisition.
Speaker 1: New York Mayor Eric Adams reacts to new gun laws
Speaker 1: across the state, plus the US lawrens North Korea of
Speaker 1: the strong punishment conducts in nuclear tests. On Michael bar
Speaker 1: More Ahead, I'm John Stash Howard Sports. Then that's one
Speaker 1: in San Diego, Colorado has raised the Stanley Cup Final.
Speaker 1: The Rangers play Game four at Tampa Bay tonight. That's
Speaker 1: all Strady Ahead on Bloomberg day Break on Bloomberg eleven, Freo,
Speaker 1: New York, Bloomberg one, Washington, d C, Bloomberg one oh
Speaker 1: six one, Boston, Bloomberg nine sixties, San Francisco, Sirius XM
Speaker 1: one nine Team and around the World Old on Bloomberg
Speaker 1: Radio and dot car. I'm via the Bloomberg Business and
Speaker 1: good morning. I'm Karen Moscow. I'm Nathan Hagar. Bloomberg Daybreak
Speaker 1: is brought to you by Informatica in the Cloud. Your
Speaker 1: data has the power to do the extraordinary. Managed data
Speaker 1: across any location in the cloud for accurate and actionable insights.
Speaker 1: More at Informatica dot Com and us dock. Index futures
Speaker 1: are lower this morning, six out one on Wall Street
Speaker 1: and we check the markets every fifteen minutes throughout the
Speaker 1: trading day on Bloomberg. Right now, SNP futures are down
Speaker 1: eighteen points down, futures down a hundred thirty eight and
Speaker 1: NASDAG futures down sixty eight. The tenure treasury up six
Speaker 1: thirty seconds, you know, three point one percent, and they
Speaker 1: yield on the two year two point seven one percent. Nathan,
Speaker 1: all right, thanks Karen. We'll have more on the markets
Speaker 1: in just a minute. First we want to bring you
Speaker 1: the latest on the future of Boris Johnson, the UK
Speaker 1: Prime Minister has managed to cling to power. Let's go
Speaker 1: to London and get the very latest with Bloomberg's You
Speaker 1: and Potts. Good morning you, and good morning Nathan and
Speaker 1: Karen win for Boris Johnson in a votes among lawmakers
Speaker 1: in his own Conservative party, the UK Prime Minister has
Speaker 1: secured the numbers to remain as leader, but more than
Speaker 1: forty percent of his colleagues indicated they have no confidence
Speaker 1: in his leadership. That was the worst result than that
Speaker 1: suffered by his predecessor, Theresa May. Under official party rules,
Speaker 1: he cannot now be challenged again for another twelve months,
Speaker 1: but rules can be changed and many expect Leadsia questions
Speaker 1: to continue. In London, I'm you and parts in bag
Speaker 1: day break you and thank you Now. The latest on
Speaker 1: the war Russia has spanned dozens of US officials from
Speaker 1: entering the country. We get details from Bloomberg's Any Morrison
Speaker 1: our newsroom in Washington. Treasury Secretary Janet Yellett and Black
Speaker 1: Rocks Larry Fink are among the sixty one US officials
Speaker 1: and executives indefinitely banned by Russia retaliation for what it
Speaker 1: called constantly expanding sanctions against its citizens. This says Ukraine
Speaker 1: is in talk with the United Nations to craft a
Speaker 1: deal between Turkey and Moscow to restart shipments of grain
Speaker 1: from ports blocked by Russia. Meanwhile, shortly after the UK
Speaker 1: joined the U S and pledging to send longer range
Speaker 1: missiles to Ukraine. Russia's President Putin threatened to strike new
Speaker 1: targets if those weapons are delivered in Washington. I'm Amy
Speaker 1: Moore as Bloomberg Daybreak. All right, Amy, thank you, turning
Speaker 1: to US politics. This is a primary election Super Tuesday.
Speaker 1: Seven states, led by California and New Jersey, are heading
Speaker 1: to the polls for the busiest day of voting before
Speaker 1: the general election in November. Claremont McKenna College political scientist
Speaker 1: Jack Pitney has more on a major theme playing out
Speaker 1: in California, crime and homelessness. If you talk to anybody
Speaker 1: who's recently visited Los Angeles, still be shocked at the
Speaker 1: homeless encampments all over the city. Uh. It's a huge
Speaker 1: humanitarian problem and one that the city government has not
Speaker 1: been able to manage very effectively. Clairemont McKennis Jack Pittney
Speaker 1: says it's affecting the Democratic race for Los Angeles mayor,
Speaker 1: hitting Congresswoman Karen Bass against tough on crime billionaire Rick Caruso.
Speaker 1: It is also feeling the race for Attorney General in
Speaker 1: California to Republicans and a Republican turned independent, are running
Speaker 1: to unseat Democratic incumbent Rob Banta. As for congressional races,
Speaker 1: Republican David Valadeo is facing a tough primary challenge. Valadeo
Speaker 1: was one of the ten House Republicans who voted to
Speaker 1: impeach former President Donald Trump last year. Well the New
Speaker 1: Jersey Nathan Republican contenders are hoping to crack the States
Speaker 1: Blue Wall in today's primary, and Bloomberg's Michael Barr has
Speaker 1: the latest. Today's primary has a field of thirty five
Speaker 1: GOP candidates, many in line with former President Trump. However,
Speaker 1: the governor's seat and the legislature are controlled by Democrats
Speaker 1: and the party holds ten of the twelve congressional seats.
Speaker 1: One race to keep an eye on is New Jersey's
Speaker 1: third District. Jim owner Ian Smith, refused in order to
Speaker 1: close his business during the pandemic, is among three Republicans
Speaker 1: running against Democrat Andy Kim. The third district is a
Speaker 1: politically divided area that voted for Trump by a narrow
Speaker 1: margin in the election In New York. Michael Barr Bloomberg
Speaker 1: Day Brick Michael thank you in Corporate News. Deal or
Speaker 1: No Deal looks like Elon Musk's buyer's remorse won't get
Speaker 1: him out of his acquisition of Twitter. Let's get more
Speaker 1: on that line from Bloomberg trained to on Good Morning Nina,
Speaker 1: Good Morning Nathan. Elon Musk is reviving his argument that
Speaker 1: Twitter has a serious bot problem, and he's threatening to
Speaker 1: walk away from the deal if the social media giant
Speaker 1: does not do more to prove that its users are
Speaker 1: real people. But Bloomberg sources say behind the scenes the
Speaker 1: deal is proceeding. Twitter thinks it's in the best interest
Speaker 1: of all shareholders and wants to close the transaction, and
Speaker 1: it's possible that Twitter could try to sue Musk to
Speaker 1: complete the deal if he tries to walk away. Live
Speaker 1: in New York, I'm goned a young Bloombark day break
Speaker 1: all right, reneed to thank you all. Apple out with
Speaker 1: new software and services at its Worldwide Developers Conference. Fresh
Speaker 1: features include an updated iPhone log screen, multitasking for the iPad,
Speaker 1: and a pay later service that bring Apples into the
Speaker 1: finance industry. We discussed the move with Creative Strategies President
Speaker 1: Carolina Milanessi from the event in California. I think the
Speaker 1: core of it is that is going to be so
Speaker 1: much easier for people that use Apple Pe to just
Speaker 1: use as a default versus using the plethora of other
Speaker 1: options that you have in the market. It's about integration,
Speaker 1: is about taking away every little bit of friction that
Speaker 1: you have in the experience. The Creative Strategies President Carolina
Speaker 1: Milanossi expects Apple's new pain later features to be helpful
Speaker 1: for both small businesses and consumers. Turning to the economy,
Speaker 1: Karen JP Morgan Chase chief economist Bruce Casman says there
Speaker 1: is little chance of recession is imminent. I think what
Speaker 1: we're gonna see is growth continue to be on the
Speaker 1: softer side, but growth continue to show resilience. Uh. We
Speaker 1: don't see a near term recession. Uh. We see a
Speaker 1: global economy which actually does okay in the second half
Speaker 1: of the year, with the u AS slowing and the
Speaker 1: rest of the world doing somewhat better. JP Morgan Chase
Speaker 1: chief economist Bruce Casman's comments differ from those of his boss,
Speaker 1: Jamie Diamond. Last week, Diamond said investors should be ready
Speaker 1: for an economic hurricane, as tighter monetary policy, inflation, and
Speaker 1: Russia's invasion of Ukraine pose ongoing risks and Bloomberg. Day
Speaker 1: Break is brought to you by b n Y Melon
Speaker 1: Pershing's Inside Conference back in person June fifteen through the
Speaker 1: seventeenth at the Gay Lord Resort in Grapevine, Texas. Don't
Speaker 1: visit Register now at Inside dot b n Y Melan
Speaker 1: dot com. Futures are moving lower this morning. SMP Future
Speaker 1: is down about nineteen points. Straight ahead your latest local headlines,
Speaker 1: plus a check of sports, and this is Bloomberg. Thanks Karen.
Speaker 1: At six oh seven on Wall Street where at sixty
Speaker 1: three degrees in Central Park and still dealing with an
Speaker 1: accident on southbound Harlem River Drive at the George Washington Bridge.
Speaker 1: Details coming up in traffic. First, Michael Barr is back
Speaker 1: with more on what's going on in New York and
Speaker 1: around the world. Good morning, Michael, Good morning Nathan. New
Speaker 1: York Governor Kathy Oacal signed new gun reformed legislation into
Speaker 1: law three weeks after ten people were killed in a
Speaker 1: mass shooting at a Buffalo supermarket by a self proclaimed
Speaker 1: white supremacist. The bills will include banning anyone under the
Speaker 1: age of twenty one from buying or possessing a semi
Speaker 1: automatic rifle. As well as expanding current red flag laws.
Speaker 1: It's just Eve's happening. Shots ring out, flags come down,
Speaker 1: and nothing ever changes except here in New York. During
Speaker 1: the signing and Buffalo Governor Hocle says, New York legislators
Speaker 1: made the decision to be leaders when it comes to
Speaker 1: gun reform, rather than followers waiting on Washington, New York
Speaker 1: Mayor Eric Adams praised the new gun laws in the state.
Speaker 1: Adams says, though, that more needs to be done to
Speaker 1: properly prosecute the criminals who commit the crimes, because, he says, criminals, no,
Speaker 1: they won't face proper consequences. No one takes criminal justice
Speaker 1: seriously anymore. These bad guys no longer take them seriously.
Speaker 1: They believe our criminal justice system is a laughing stock.
Speaker 1: Mayor Adams also says they've taken three thousand guns off
Speaker 1: the streets. A bipartisan group of lawmakers in Congress is
Speaker 1: trying to find common ground to pass new gun control legislation.
Speaker 1: Democratic negotiators say a deal could be completed this week.
Speaker 1: Democratic Senator Chris Murphy of Connecticut. Parents are scared, kids
Speaker 1: are scared that they need progress. They need us to
Speaker 1: show that we care about what kids are going through UM,
Speaker 1: and I'm hopeful that we'll get a deal. Senator Murphy says.
Speaker 1: The proposals include enhanced background checks. The former top leader
Speaker 1: of the far right Proud Boys extremist group and other
Speaker 1: members have been charged with seditious conspiracy for what federal
Speaker 1: prosecutors say was a coordinated attack on the US Capitol,
Speaker 1: the US war and North Korea of a strong punishment
Speaker 1: if it conducts a nuclear test. The United Nations watch
Speaker 1: Dog Agency says signs into k Pyong Gang could soon
Speaker 1: set off its first atomic device since Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven hundred journalists and analysts
Speaker 1: more than a hundred twenty countries. Michael Bart, this is Bloomberg, Nathan.
Speaker 1: Thank you. Michael six o nine on All Street time
Speaker 1: for the Bloomberg Sports Update with John Sisha. All right, Anton,
Speaker 1: the Mets have the best record of National A. They
Speaker 1: just split a four game series with the Dodgers, who
Speaker 1: have the NLS second best mark, and the Mets are
Speaker 1: now in San Diego and the Padres are the owners
Speaker 1: of the third best record. The Mets took the series
Speaker 1: open the eleven five three runs in the first inning
Speaker 1: four of the ninth, and Wardo Escobar a big night
Speaker 1: four instantly on the home run he drove in six.
Speaker 1: Carlos Carrasco struck at ten improved his seven and one
Speaker 1: Yankees over their major league leading forty win. Tonight at Minnesota,
Speaker 1: they'll face a couple of x Yanks, Garry Sanchez and
Speaker 1: Juale or Sella. Rangers now have two games to one.
Speaker 1: Game four of Tampa Bay Tonight, we know who the
Speaker 1: winner of that series will play with the Stanley Cup.
Speaker 1: Tep talking great bad start. Try look at at and
Speaker 1: it don't have to go home, but you can't stay
Speaker 1: here because this party is over. K s E and
Speaker 1: Denver had to call the ad six five time when
Speaker 1: Edmonton that keapped a four game sweep. It's the first
Speaker 1: time Colorado has reached the Stanley Cup finals since winning
Speaker 1: the Cup in two thousand one. The Bruins fired their coach,
Speaker 1: Bruce Cassidy, he got them to the playoffs sixt eight years.
Speaker 1: Phil Mickelson has not been playing golf, says he needed
Speaker 1: time off, and Micholson made official he is going to
Speaker 1: play the new Saudi Back Live Tour that starts next
Speaker 1: month in London. Michelson said he's hopefully can still also
Speaker 1: play PG eight tour events. He told Sports Illustrated his
Speaker 1: gambling has been reckless and embarrassing that he's been in therapy.
Speaker 1: It was reported he once had forty million dollars in
Speaker 1: fambling losses. Greg Norman runs that Live Towards says Tiger
Speaker 1: Woods was offered a nine figure amount to play, but
Speaker 1: he said no. John stash that were Bloomberg Sports. Thank you, okay, John,
Speaker 1: thank you. Right now, SMP futures are down eighteen points down,
Speaker 1: futures down at eight, NASAC futures down seventy two points,
Speaker 1: sequity futures adding to their declines this morning. We'll get
Speaker 1: insights on this market coming up next with liz Anne Saunders,
Speaker 1: chief investment strategist at Charles Schwab. Stay with us for
Speaker 1: that you're listening to Bloomberg Gay Break. Bloomberg day Break
Speaker 1: is brought to you by Hofstra University's Frank gez R
Speaker 1: School of Business, top ranked online NBA program with a
Speaker 1: real world foundation. Learn more at Hofstra dot e d
Speaker 1: U slash go grad Markets headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg
Speaker 1: Business Outland, at Bloomberg Victape, He's a Bloomberg Business Flash
Speaker 1: and I'm kared Moscow. European stocks are dropping along with
Speaker 1: US stock index futures as central banks and on tightening
Speaker 1: policy fan growth fears, and we check the markets every
Speaker 1: fifteen minutes throughout the trading day on Bloomberg. Right now,
Speaker 1: U S and P futures are down twenty three points down,
Speaker 1: futures down a hundred seventy four, and NASDACK futures are
Speaker 1: down eighty four. The decks in Germany's down about one
Speaker 1: percent ten. Your treasury up six thirty seconds yield three
Speaker 1: point one percent. They yield on a two year two
Speaker 1: point seven one per cent. Nine max scrude oils down
Speaker 1: to tens per cent or twenty three cents and a
Speaker 1: hundred eighteen dollars twenty seven cents of barrel comes. Gold
Speaker 1: is up three tents per center five dollars at eighteen
Speaker 1: forty eight, the euro one point oh six seven nine
Speaker 1: against the dollar, British pound one point to five one
Speaker 1: four and the ends at one thirty two point six
Speaker 1: nine and look at a bitcoin this morning, down almost
Speaker 1: six percent at twenty nine thousand and five hundred seventy dollars.
Speaker 1: As a Bloomberg Business Flash, now, here's Michael Barr with
Speaker 1: more on what's going on around the world. Michael Karen,
Speaker 1: thank you very much. South Korea and US militaries flew
Speaker 1: twenty fighter jets over waters off South Korea's western coast
Speaker 1: today in a show of forest as a senior US
Speaker 1: official warrant of a forceful response if North Korea goes
Speaker 1: ahead with its first nuclear test explosion. Since sev age
Speaker 1: limits and red flag laws are being discussed in Washington,
Speaker 1: has a bipartisan group of senators looks for ways to
Speaker 1: curb the outbreak of gun violence in the name a
Speaker 1: strengthening background checks. Also on the table. In the NHL playoffs,
Speaker 1: the Avalanche beat the Oilers to advance to the Stanley
Speaker 1: Cup Final. Colorado will either face the Rangers or the Lightning,
Speaker 1: who play game for tonight. In baseball, the Mets and
Speaker 1: Red Sox one Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quick Take, powered by more
Speaker 1: than seven under journalist and analysts more than countries. Michael
Speaker 1: bar This is Bloomberg, Nathan Michael. Thanks, It is six
Speaker 1: nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios.
Speaker 1: This is Bloomberg Daybreak and we're very pleased to be
Speaker 1: joined this morning by Liz Anne Saunders, chief investment strategist
Speaker 1: at Charles stab as we look to make sense of
Speaker 1: this market. Liz, good morning. We started this week with
Speaker 1: some modest gains, but now we're looking to give those
Speaker 1: back and then some. It seems like the debate over
Speaker 1: whether central banks can pull off tighter policy without triggering
Speaker 1: a recession is back in play. What's your view on
Speaker 1: where things stand now? Well, I think it was in
Speaker 1: play all along. We we had a we had a
Speaker 1: pretty brutal seven weeks span of time, and to see
Speaker 1: a bit of a countertrend or relief rally is to
Speaker 1: be expected. You had gotten to very oversold conditioned sentiment
Speaker 1: had gotten washed out, at least attitudinal measures of sentiment,
Speaker 1: and I think that that established a base for the
Speaker 1: kind of rally that we saw. I don't think it
Speaker 1: was driven by some assumption that either the Fed would
Speaker 1: be able to take their foot off the brake or
Speaker 1: we were in a goldilocks economic scenario. That's just the
Speaker 1: nature of rallies in bear markets. But we're still now
Speaker 1: facing a trillion dollars over the next year of of
Speaker 1: runoff on the balance sheet, and I think the digestion
Speaker 1: of the absence of that liquidity is sort of you know,
Speaker 1: back in front of mine. What do you think the
Speaker 1: impact is going to be as that removal of the
Speaker 1: punch bowl? Yes, you could say it starts to play
Speaker 1: out here. How's that going to affect investors going forward?
Speaker 1: I think this change in a liquidity environment is not
Speaker 1: a purely a prospective thing. It is as it relates
Speaker 1: to the balance sheet. But if you look at broad
Speaker 1: measures of money growth, even though still positive in your
Speaker 1: over year terms, well down relative to where we were
Speaker 1: certainly in and I think that that's been really the
Speaker 1: story of the at least phase one of the bear market,
Speaker 1: I think was the market reflecting this change in the
Speaker 1: liquidity environment, rising interest rates for to your own inflation,
Speaker 1: all the things we live even breathe every day. And
Speaker 1: I think Phase two was a hit to the economy,
Speaker 1: which was certainly reflected in in Q one with a
Speaker 1: negative GDP print. And I think the next phase maybe
Speaker 1: the market digesting what is likely to be a deteriorating
Speaker 1: profit outlook, and that really might be the first time
Speaker 1: really since the pandemic erupted that at least when we
Speaker 1: were coming out, you had that huge surgeon earnings off
Speaker 1: the off the lockdown lows. I think we may now
Speaker 1: for first time this quarter befacing estimates and a bar
Speaker 1: that is set a little bit too high. So I
Speaker 1: think that next phases shift to come. But this changed
Speaker 1: liquidity environment really started last year when we saw that
Speaker 1: significant shift in money supply in courtesy of both the
Speaker 1: fiscal side and now the monetary side. Are you starting
Speaker 1: to see evidence at this point that corporate earnings expectations
Speaker 1: are beginning to deterior right now? Yeah. So, if you
Speaker 1: if you go back the last six quarters or so,
Speaker 1: we we had a pretty consistent trend of estimates when
Speaker 1: they were first printed being on the lower side and
Speaker 1: then getting raised. If you look at the three month
Speaker 1: span of time, the final three months of estimates for
Speaker 1: each quarter, for the most part, those had moved higher,
Speaker 1: but for the first quarter or for the second quarter,
Speaker 1: that has actually been coming down. And longer term estimates
Speaker 1: out two to three years have rolled over as well,
Speaker 1: and I think this coming quarter that we're reporting second quarter,
Speaker 1: of course it won't start until July, maybe the first
Speaker 1: real signal of a change in the profit margin's landscape.
Speaker 1: They they've been surprisingly resilient, albeit down from the peak
Speaker 1: of last year. But you're really stacking up the companies
Speaker 1: that are talking about that margin pressure because of imput
Speaker 1: costs obviously inclusive of labor, but also now weaker demand.
Speaker 1: We only have about a minute left here, Lizianne, but
Speaker 1: I want to get your take on this debate playing
Speaker 1: out between JP Morgan's CEO, Jamie Diamond, and his chief
Speaker 1: economist over at JP Morgan about whether an economic hurricane
Speaker 1: is coming. Bruce Cassman, the chief economist, says he doesn't
Speaker 1: see a recession and what's your what's your view on it? So,
Speaker 1: I think anytime you have a FED shift to tightening mode.
Speaker 1: If you just go back in the history of modern
Speaker 1: day FED last thirteen rate hikes cycles, you've had ten recessions,
Speaker 1: three soft landing. So I think just history suggests the
Speaker 1: needle points a little more toward recession, especially when you
Speaker 1: have a FED that's trying to combat afford to your
Speaker 1: higher inflation and as I mentioned, already weak growth in
Speaker 1: the first quarter, so I think a recession is probably
Speaker 1: more likely. Soft landing is possible, but I think the
Speaker 1: supply side of the economy has to do some of
Speaker 1: the work for the FEDS, so continued loosening up on
Speaker 1: the labor market side as well as supply shortages, I
Speaker 1: think that would be the path. But we're we're in
Speaker 1: a storm. But whether hurricane is a little too bombastic,
Speaker 1: time will tell. Thanks as always, Lizzie, great to get
Speaker 1: your thoughts this morning. Liz Ane Saunders, chief investment strategist
Speaker 1: at Charles Schwab. Right now, SNP futures are lower by
Speaker 1: twenty eight points, a drop of seven tenths percent, their
Speaker 1: Dow futures down a hundred nine Nasdaq futures leading the declines,
Speaker 1: down a hundred twelve points for a drop of nine
Speaker 1: tenths of one percent. The ten year Treasury right now
Speaker 1: up six thirty seconds for a yield of three point
Speaker 1: zero one percent, yield on the two year two point
Speaker 1: seven one percent, and i'm x crude is lower by
Speaker 1: two tenths percent and nineteen cents a hundred eighteen dollars
Speaker 1: one for a Barrel of West Texas Intermediate. You're listening
Speaker 1: to Bloomberg Daybreak Bloomberg eleventh three oh weather partly mostly sunny,
Speaker 1: upper seventies today, showers and storms likely tomorrow with a
Speaker 1: high near eighty. Those showers and storms will end during
Speaker 1: the morning Thursday, currently sixty three degrees in Central Park.
Speaker 1: Broadcasting live from the Bloomberg Interactive Broker Studio in New York.
Speaker 1: Bloomberg E living free on to Washington, d C, Bloomberg
Speaker 1: N one to Boston, Bloomberg one O six one to
Speaker 1: San Francisco, Bloomberg N sixty to the Country, Sirius XM
Speaker 1: Gentle one nine and around the bloom the Bloomberg Business
Speaker 1: app and Bloomberg Radio dot Com. This is Bloomberg Daybreak.
Speaker 1: It's six thirty on Wall Street. Good morning, I'm Nathan
Speaker 1: Hagar and I'm faring most hour, just about three hours
Speaker 1: away from the open of U West Trading. It's time
Speaker 1: for the five things that you need to notice start
Speaker 1: your day. Brought to you by Interactive Broker Simple ib K,
Speaker 1: our Global Trader app. Deposit in your local currency and
Speaker 1: trade stocks in the US, Europe and Asia. Start your
Speaker 1: free trial at ib K r dot com slash Global Trader. First,
Speaker 1: the latest on the future of Boris Johnson. The UK
Speaker 1: Prime Minister has managed to cling to power, surviving a
Speaker 1: confidence vote last night. I'm grateful to colleagues. I'm grateful
Speaker 1: for the support they given me. Boris Johnson's leadership was
Speaker 1: uncertain due to scandals and political challenges. The so called pandemic,
Speaker 1: Party Gate events and Downing Street angered citizens, along with
Speaker 1: a cost of living crisis and tax increase. After the result,
Speaker 1: Johnson said it was time to get back to helping
Speaker 1: people in the UK. We have a conclusion to something
Speaker 1: that's been dragging on for far too long, and we
Speaker 1: have the ability not to unite, deliver and get on
Speaker 1: with the people's priorities. And that is what we're gonna do.
Speaker 1: Boris Johnson received two hundred eleven votes in a confidence
Speaker 1: motion and one hundred forty eight against him. All right,
Speaker 1: let's turn to the war in Ukraine now. Karen Russia
Speaker 1: has banned dozens of US officials from entering the country,
Speaker 1: while Ukraine's looking for ways to restart grain exports from
Speaker 1: ports that have been blocked by Russia's military. Treasury Secretary
Speaker 1: Janet Yellen and Blackrock CEO Larry Fink are among those
Speaker 1: now banned from Russia. Back in the US, Nathan, we're
Speaker 1: watching primary races in New Jersey and California today. Crime
Speaker 1: is the focus and the Los Angeles may oral race
Speaker 1: as well as San Francisco's District attorney recall election, and
Speaker 1: there are some tight house races in New Jersey. There
Speaker 1: were also primar race today in five other states. In
Speaker 1: Corporate News, Karen looks like Elon Musk's buyer's remorse isn't
Speaker 1: going to get him out of his deal to buy Twitter.
Speaker 1: Let's get the latest live from Bloomberg's Ranita Young. Good morning, Ranita,
Speaker 1: Good morning, Nathan. Elon Musk is reviving his argument that
Speaker 1: Twitter has a serious bot problem, and he's threatening to
Speaker 1: walk away from the deal if the social media giant
Speaker 1: does not do more to prove that its users are
Speaker 1: real people. But Bloomberg sources say behind the scenes, the
Speaker 1: deal is proceeding and it's possible that Twitter could try
Speaker 1: to sue Musk to complete a deal if he tries
Speaker 1: to walk away. Live in New York, I'm reneed a
Speaker 1: Young Bloomberg Day Break right. Need to thank us and
Speaker 1: p future is down twenty two points this morning. Down
Speaker 1: future is down on two nasty egg futures down at
Speaker 1: nine two ten. Your treasury up six thirty seconds, yield
Speaker 1: three point one percent, the yield on a two year
Speaker 1: two point seven one percent. Niveag screwed oils down three
Speaker 1: towns per cent or thirty five cents at a hundred
Speaker 1: eighteen dollars thirteen cents of barrel. And that's the five
Speaker 1: things that you need to notice start your day. Brought
Speaker 1: to you by interacted brokers. Try to head your latest
Speaker 1: local headlines, plus a check of sports. And this is Bloomberg.
Speaker 1: Thanks caring. At six thirty three on Wall Street, sixty
Speaker 1: four degrees in Central Park, Big problems on the Brooklyn
Speaker 1: bound upper level of the Arizono Bridge. Couple of lanes
Speaker 1: taken out with an accident. We'll get to the details shortly.
Speaker 1: First Michael Barr with what else is going on in
Speaker 1: New York and around the world. Good morning, Michael, Good
Speaker 1: morning Nathan. New York Governor Kavy Ocal signed new gun
Speaker 1: reformed legislation into law three weeks after ten people were
Speaker 1: killed in a mass shooting in a Buffalo supermarket by
Speaker 1: a self proclaimed white supremacist. The bills will include banning
Speaker 1: anyone under the age of twenty one from buying or
Speaker 1: possessing a semi automatic rifle, as well as expanding current
Speaker 1: red flag laws to keep guns out of the hands
Speaker 1: of dangerous people. No eighteen year old can walk it
Speaker 1: on their birthday and walk out with an at Those
Speaker 1: days are over. Those days are over. You hear that
Speaker 1: those days are over. Governor HOCl New York City Mayor
Speaker 1: Eric Adams, who praised the state's new gun laws as
Speaker 1: his city has seen a rash of gun violence, but
Speaker 1: that police have been working to find those responsible. But
Speaker 1: Adams says that more needs to be done to properly
Speaker 1: prosecute the criminals who commit the crimes. If we do
Speaker 1: the rope to get it to the grand jury, to
Speaker 1: get that indictment, to make the arrest, then the other
Speaker 1: team must do their part the course after prosecute me or,
Speaker 1: Adams says, so far are they've taken about three thousand
Speaker 1: guns off the streets. Age limits and red flag laws
Speaker 1: being discussed in Washington as a bipartisan group of senators
Speaker 1: looks for ways to curb the outbreak of gun violence
Speaker 1: in the nation. Democratic Representative Chris Murphy of Connecticut. My
Speaker 1: goal is to reach an agreement by the end of
Speaker 1: the week. We've got more Revolgans and Democrats sitting together
Speaker 1: than ever before since Sandy Hook. What we're talking about
Speaker 1: is substantial um it will save lives. Representative Murphy says
Speaker 1: strengthening background checks is also on the table. The US
Speaker 1: war North Korea of a strong punishment if it conducts
Speaker 1: a nuclear test, Deputy Secretary of State Wendy Sherman said
Speaker 1: in sold in today's meeting. Whether South Korean counterpart any
Speaker 1: nuclear tests would be in complete violation of UN Security
Speaker 1: Council Resolutions UH, there would be a swift and forceful
Speaker 1: response UH to such a test. Deputy Secretary of State Sherman,
Speaker 1: along with a U and watchdog groups, says Pyong Yang
Speaker 1: could soon set off its first atomic device since seen
Speaker 1: Global Neames twenty four hours a day on air and
Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven
Speaker 1: hundred journalists, analysts, more than a hundred twenty countries. Michael
Speaker 1: Barr and this is Bloomberg nith Thank you, Michael. Almost
Speaker 1: six thirty six on Wall Street. John Sash hours back
Speaker 1: with the Bloomberg Sports Update. All Right, Nathan Mets third
Speaker 1: straight win out West after two in l A. They
Speaker 1: won in San Diego eleven to five. Is Eduardo Escobar
Speaker 1: had a two run single to run triple and a
Speaker 1: two run homer. Carlos carrasco ten strikeouts in seven. He's
Speaker 1: now seven and one in The Mets at thirty eight
Speaker 1: and nineteen, have won two thirds of their games. The
Speaker 1: Yankees have won their last six play tonight at Minnesota,
Speaker 1: Battle of a L Division leaders, the Colorado Avalanche will
Speaker 1: play for the Stanley Cup. They have been dominant in
Speaker 1: the West, twelve wins only two losses. They have finished
Speaker 1: the sweep of Edmonton, winning a wild game four, six
Speaker 1: to five on a goal a minute nineteen into overtime.
Speaker 1: They have scored four times in the third period. This
Speaker 1: will be their first Cup final since they won the
Speaker 1: Cup intan thousand one. They will play either the Rangers
Speaker 1: or the light named Tampa Bay just one game three,
Speaker 1: cutting the Ranger lead to two one, and yesterday Rangers
Speaker 1: coach Gerard Galant was looking ahead at tonight's Game four.
Speaker 1: You gotta get ready for one game at a time,
Speaker 1: as I always say, and you Okamo is a huge
Speaker 1: game for us. We gotta compete and we've got a battle.
Speaker 1: We gotta play a little good here than we did
Speaker 1: last game, but there was a lot of good things,
Speaker 1: and you know, keep playing a game, keep working hard,
Speaker 1: and I think I said it's two two words, three one.
Speaker 1: So let's see where it goes. And the Rangers win
Speaker 1: on the road in the playoffs. There eight and one
Speaker 1: at home, but they're just two and six away from
Speaker 1: the Garden super Bowl champion l A. Rams have locked
Speaker 1: up their star on defense a rework deal with with
Speaker 1: Aaron Donald Whare. He's guaranteed ninety five million dollars over
Speaker 1: the next three years. That's the most for any non quarterback.
Speaker 1: John stash Award Bloomberg Sports Nathan all Right, John, thanks
Speaker 1: sixty seven on Wall Street not to take a look
Speaker 1: at stock some of the names moving in the pre market.
Speaker 1: On this risk Off Tuesday, We're joined by Bloomberg Radio
Speaker 1: on TV Markets correspondent Crety Gupta. You know, Creaman been
Speaker 1: talking a lot this morning about the buyout drama between
Speaker 1: Elon Musk and Twitter. But that's not the only M
Speaker 1: and A story going on this morning. It's not the
Speaker 1: only M and A story who thought things could go uh,
Speaker 1: perhaps swimmingly outside of them in the M and A space.
Speaker 1: Outside of Twitter, there are other companies out there that
Speaker 1: could be bought. And of course that brings me to
Speaker 1: our first stock mover this morning, of course, is Cole's
Speaker 1: k s S is your ticker up twelve percent, the
Speaker 1: company holding exclusive talks with Franchise Group regarding a deal
Speaker 1: that would value the retail chain. I get this eight
Speaker 1: billion dollars. They're going through an exclusivity period to discuss
Speaker 1: Franchise's Group offer to buy Coals for sixty dollars a share. Now,
Speaker 1: I'm glad that you mentioned the Twitter and Tesla deal, Nathan,
Speaker 1: because one of the big issues with that deal is
Speaker 1: when it comes to an investing story and the stock
Speaker 1: price story, is the deal premium that is so far
Speaker 1: away from the offer price of from Elon Musk, and
Speaker 1: Twitter shares just haven't even hit that. Even when exactly
Speaker 1: when Elon Musk was further even closer, was far more
Speaker 1: driven to buy this deal order to buy this company
Speaker 1: and to go through with the deal. That deal premium
Speaker 1: has since widen and widen, and I think we're looking
Speaker 1: at a thirty eight handle on on Twitter shares. It's
Speaker 1: interesting to look at coal shares as well because k
Speaker 1: s S is at twenty at least in the pre
Speaker 1: market here, and that's after a twelve percent game, So
Speaker 1: it'll be interesting to see whether these shares. Remember, this
Speaker 1: is a very normal thing for people to do in
Speaker 1: an M and A deal, find that risk arbitrage and
Speaker 1: get it closer and closer and closer to that offer price.
Speaker 1: So keep an eye on where the shares are, not
Speaker 1: just how much they're moving, because the closer you see
Speaker 1: those shares get to sixty dollars a share, the more
Speaker 1: believability there is in the market that this deal is
Speaker 1: actually going to go through. Another really interesting stuck on
Speaker 1: your list created analysts are giving Peloton another look. It's
Speaker 1: all about management, you know. One of the big pieces
Speaker 1: of career advice I got Nathan was make sure you
Speaker 1: have a very good manager. I'm very lucky to have
Speaker 1: a very good manager. But I think, as are we
Speaker 1: all kissing up. Kissing up to the management are the
Speaker 1: first thing in the morning. But it's the same dynamic
Speaker 1: when it goes to Peloton Chairs Here. P t O
Speaker 1: n is your taker. It's up about six tenths of
Speaker 1: a percent. This comes after the former vice president of
Speaker 1: Amazon Web Services, Liz and I'm gonna butcher this name,
Speaker 1: but cotting Thomas. I want to say, is quote well
Speaker 1: positioned to help Peloton and its next stage of growing subscribers,
Speaker 1: at least as according to City. This is after the
Speaker 1: exercise machine maker appointed her. The Coddington appointed Cottington the
Speaker 1: CFO of Peloton. So they're saying, you know, we believe
Speaker 1: in her, we think that she can help. Of course,
Speaker 1: we know Peloton could use the help given of the
Speaker 1: decline in sales. Yeah, certainly. Bloomberg Radio on TV markets
Speaker 1: correspondent Creedy Gupta taking a look at some of the
Speaker 1: movers in the pre market and taking a look at
Speaker 1: stocks as a whole ahead of this Tuesday morning open.
Speaker 1: They're moving lower with SMP futures down down nineteen point,
Speaker 1: Staff futures down a hundred thirty eight, NASTAC futures down
Speaker 1: eighty three points, and the tenure treasury right now up
Speaker 1: six thirty seconds for yield of three point zero one
Speaker 1: yield on the two year two point seven one. You're
Speaker 1: listening to Bloomberg Daybreak, Bloomber eleven three oh weather sunshine
Speaker 1: up for seventies today, Showers and storms tomorrow with a
Speaker 1: high near eighty degrees. Those storms will end during Thursday morning.
Speaker 1: It will stay near eighty though currently sixty four in
Speaker 1: Central Park Markets. Headlines and breaking news twenty four hours
Speaker 1: a day at Bloomberg dot com, The Bloomberg Business Outland
Speaker 1: at Bloomberg Quicktape. This is a Bloomberg business flash and
Speaker 1: I'm caring Moscow. This update brought to you by Informatica
Speaker 1: and the Cloud. Your data has the power to do
Speaker 1: the extraordinary. Managed data across any location in the cloud
Speaker 1: for accurate and actionable insights. More at Informatica dot com.
Speaker 1: European stocks are falling this morning, along with US stock
Speaker 1: index futures, as central banks set on tidening policy fan
Speaker 1: growth fears. We check the markets every fifteen minutes throughout
Speaker 1: the trading day. On Bloomberg, s and P futures are
Speaker 1: down twenty points down, futures down a hundred forty five
Speaker 1: and as day futures down eighty eight. The decks in
Speaker 1: Germany's down nine tenths of a percent. Ten year treasury
Speaker 1: of five thirty seconds yield three point one percent, the
Speaker 1: yield down the two year two point seven one percent.
Speaker 1: Ni Max screwed oil is little change now down well
Speaker 1: down a tenth of a percent, down ten cents at
Speaker 1: a hundred eighteen dollars, thirty nine cents of barrel comex
Speaker 1: gold up half percent or nine dollars at eighteen fifty
Speaker 1: two seventy an ounce. The Euro one point six eight
Speaker 1: zero against the dollar British found one point to five
Speaker 1: one four and the one thirty two point seven one.
Speaker 1: And we're watching bitcoin down five point eight percent at
Speaker 1: twenty nine thousand, six hundred dollars. That's a bloomberg business flash.
Speaker 1: Now here's Michael Barr with UR on what's going on
Speaker 1: around the world. Michael Karen, thank you very much. Bipartisan
Speaker 1: group of Senators. As new nationwide gun legislation could come
Speaker 1: by the end of the week. It would likely center
Speaker 1: around a proposal that includes enhanced background checks. British Prime
Speaker 1: Minister Boris Johnson survived a no confidence vote, securing enough
Speaker 1: support from his Conservative party to remain in office. Johnson
Speaker 1: faced revelations that he held parties that flouted the COVID
Speaker 1: nineteen restrictions in the NHL playoffs. The Avalanche beat the
Speaker 1: Oilers who advanced with the Stanley Cup Final. Colorado will
Speaker 1: face the Rangers or the Lightning, who play Game four tonight.
Speaker 1: In baseball, The Medicine red Sox one Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quick Take,
Speaker 1: powered by more than journalist and analysts more than a
Speaker 1: hundred twenty countries. Michael Barr and this is Bloomberg. Karen right, Michael,
Speaker 1: thank you. While it is sixty nine on Wall Street,
Speaker 1: we turned to news in science and technology now with
Speaker 1: a Bloomberg and j I T STEM report to you buy.
Speaker 1: New Jersey Institute of Technology, a ranked top fifty national
Speaker 1: public university by US News and World Report and number
Speaker 1: fourteen in the nation on Money's Best Colleges list. Learn
Speaker 1: more at n j I T DOT E d U.
Speaker 1: You know, here's just making news in science, technology, engineering
Speaker 1: and math. The Treasury Department says five D eighty three
Speaker 1: million dollars in funding will flow a broadband projects to
Speaker 1: connect more than two hundred thousand homes and businesses in Virginia,
Speaker 1: West Virginia, Louisiana, and New Hampshire. The funds are from
Speaker 1: the ten billion dollar portion of the American Rescue Plan.
Speaker 1: Another sixty five billion comes from the bipartisan Infrastructure Law.
Speaker 1: Hong Kong will not tighten coronavirus restrictions before the city's
Speaker 1: July first handover anniversary. That's according to Chief Executive Kerry Lamb.
Speaker 1: There's been speculation that China's President Jis and Paying might
Speaker 1: attend the celebrations. Hong Kong's COVID cases have been rising
Speaker 1: since the city began rolling back social distancing curbs and
Speaker 1: autonom as driving technologies are becoming more common in China
Speaker 1: as self driving developers look to deploy a range of
Speaker 1: systems and their vehicles. Bloomberg any F expects the share
Speaker 1: of sales of passenger vehicles at level to automation in
Speaker 1: China to jump from thirty five percent in twenty Level
Speaker 1: two cars are partially autonomous, but the driver still controls
Speaker 1: the vehicle and as the Bloomberg n j I T
Speaker 1: STEM report. Nathan all right, Karen, thank you. We are
Speaker 1: live from the Bloomberg Interactive Brokers studios, where it's six
Speaker 1: fifty on Wall Street time now to check what's going
Speaker 1: on in BC. Some of the top stories in our
Speaker 1: nation's capital include California and New Jersey. Leading a busy
Speaker 1: primary election day from coast to coast, Republican John Cornyn
Speaker 1: drawing a line on a gun compromise coming out of
Speaker 1: Senate negotiations, and the January six Committee in the House
Speaker 1: facing a high bar as hearings gets set for prime time.
Speaker 1: Let's bring back Bloomberg government reporter Jack Fitzpatrick for a
Speaker 1: look at more on all these stories. Jack, it is
Speaker 1: a very busy primary day, seven states heading to the polls.
Speaker 1: What races should we be keeping an I on? Oh,
Speaker 1: there are a ton of interesting ones. I I think
Speaker 1: one of the ones I'm most interested in in California
Speaker 1: is probably David Valladio, one of only six Republicans in
Speaker 1: the House to vote to impeach Trump. Uh. He does
Speaker 1: face a couple different Republican challengers in his primary, but
Speaker 1: interestingly enough, there hasn't been a really vocal push from
Speaker 1: the former president to take on Valadeo. This is a
Speaker 1: district that really leans toward Democrats, but this moderate Republican
Speaker 1: has managed to win their UH so to see if
Speaker 1: he can thread the needle, and managed to win the
Speaker 1: primary and then also win in the general in a
Speaker 1: tough environment. Obviously a better environment for Republicans this year. Uh.
Speaker 1: That's that's one of certainly one of the the compelling
Speaker 1: ones coming up today. And speaking of Republican challenges, we've
Speaker 1: got a lot of Republicans running in races in New
Speaker 1: Jersey following election last year where Democrats kind of barely
Speaker 1: squeaked by. Yeah, there are a couple of different districts
Speaker 1: where Democrats in New Jersey have one in tough districts. Uh,
Speaker 1: Tom Malanowski and Josh Gottheimer are people to keep an
Speaker 1: eye on. They've Gottheimer has two different Republicans seeking to
Speaker 1: challenge him, So we'll see who wins it. Maybe a
Speaker 1: rematch against the person he beat last time. It could
Speaker 1: be a newcomer, the Marine Corps veteran, Uh. Malanowski is
Speaker 1: going to get a rematch Andy Kim another fairly moderate
Speaker 1: district in South Jersey that was won by a Democrat,
Speaker 1: but again two is looking much better for Republicans than
Speaker 1: was or of course, so there there are a number
Speaker 1: of moderate Democrats uh in in districts that are at
Speaker 1: least partly new after redistricting that could have a real
Speaker 1: challenge as we get toward the general election. What's the
Speaker 1: flavor of some of these Republican primaries that you're watching.
Speaker 1: Are you seeing the quote unquote establishment Republicans doing well
Speaker 1: in some of these races, are or are some of
Speaker 1: the more populous swing of the GOP doing well. I
Speaker 1: think we're at the point where the Trump aligned portion
Speaker 1: of the Republican Party really is the establishment. Now. Uh,
Speaker 1: there are some interesting clashes, you know, if I if
Speaker 1: I look to for example, Young Kim the Republican looking
Speaker 1: for a second term in California, Uh, in it basically
Speaker 1: a swing district, probably leaning toward Democrats in most years.
Speaker 1: She's got a challenger running to her right. Uh that
Speaker 1: Democrats hope wins because it would make it easier for
Speaker 1: the Democrat to unseat that currently Republican held field. So
Speaker 1: there are there are some Republican battles between moderates and
Speaker 1: and more conservative members, but for the most part, you
Speaker 1: don't see a massive number of Republicans who are what
Speaker 1: you'd call anti Trump. That's why Valideo is one of
Speaker 1: the really interesting people to watch because he's one of
Speaker 1: the few who actually voted to impeach him uh and
Speaker 1: is in office and still running all right, so we'll
Speaker 1: be keeping an eye on Primary day throughout the day.
Speaker 1: Let's move on to the gun negotiations still ongoing in
Speaker 1: the Senate. The lead Republican negotiator looks like he's drawing
Speaker 1: a line here, Jack. Well, yeah, John Cornyn from Texas
Speaker 1: has kind of been deputized to be the lead Republican
Speaker 1: negotiator on this. He's drawn a couple of different lines.
Speaker 1: He's talked quite a bit about how he wants this
Speaker 1: to focus on people with a criminal history or mental
Speaker 1: health issues that could justify taking guns away, focus on
Speaker 1: background checks. Uh. There does not seem to be the
Speaker 1: appetite to, for example, raise the age of purchases to
Speaker 1: twenty one, even on semi automatic weapons, which has a
Speaker 1: there's a bill that the House Democrats are planning to
Speaker 1: take up that would do that doesn't seem to have
Speaker 1: much of a chains in the Senate because of that. Uh.
Speaker 1: Cornin has also said that good legislating takes some time,
Speaker 1: so there's a bit of pushback to the idea of
Speaker 1: getting a deal this week. So both process in terms
Speaker 1: of the timing and the scope of the bill. Republicans
Speaker 1: are pushing for some limits. It would be a small bill,
Speaker 1: and it does not sound like a deal is imminent
Speaker 1: right now. And finally, Jack, the House January six Committee
Speaker 1: is getting ready for those prime time public hearings. I
Speaker 1: guess the question now is how much of a spotlight
Speaker 1: well these hearings have given, how fractured the electorate is
Speaker 1: right now? Yeah, it's it's interesting that this hearing, the
Speaker 1: public hearing is going to be Thursday at eight o'clock.
Speaker 1: They really are going for prime time. Uh. And there
Speaker 1: is some concern among Democrats that there's a possibility that
Speaker 1: they lay out their evidence and show how significant uh
Speaker 1: this this was on January six, and show any level
Speaker 1: of organization that may have occurred. But but maybe the
Speaker 1: public is just not totally focused on that. There's so
Speaker 1: many other issues. Uh, the inflation is dominating people's concerns
Speaker 1: of a variety of crises. You've got Ukraine and Russia
Speaker 1: and the news the baby formula shortage. Congress has been
Speaker 1: very busy doing a lot of different things, and it's
Speaker 1: hard to say, uh, necessarily that a look back to
Speaker 1: January six would capture everybody's attention, even if if there's
Speaker 1: very compelling issues brought forth. All Right, Bloomberg government reporter
Speaker 1: Jack Fitzpatrick with us from our Bloomberg studios in Washington,
Speaker 1: d C. You can read much more about all these
Speaker 1: stories on Bloomberg dot com or on the Bloomberg terminal,
Speaker 1: and as a reminder, you can follow all the latest
Speaker 1: on Bloomberg Radio in Washington by tuning into Bloomberg one
Speaker 1: and one oh five point seven FM h D two.
Speaker 1: Focus for markets this morning is on inflation risk and
Speaker 1: the risk of central bank tightening potentially triggering a growth slowdown,
Speaker 1: if not a recession. We've got SMP futures right now
Speaker 1: moving lower by nineteen points, now futures down a hundred
Speaker 1: thirty nine. NAZDAC futures are lower this morning by eighty points.
Speaker 1: That's a drop of six tenths percent. Deeper losses overseas.
Speaker 1: The decks in Germany's down nine tenths percent, the cap
Speaker 1: in Paris down by three quarters of one percent. Tenure
Speaker 1: Treasury is up for thirty seconds for a yield of
Speaker 1: three point zero two percent yield on the two year
Speaker 1: two point seven two percent. NIMEX crude is little change,
Speaker 1: down a penny a hundred eighteen dollars forty nine cents
Speaker 1: for a barrel of West Texas intermediate comes gold is
Speaker 1: higher by six tenths percent ten dollars ten cent gain
Speaker 1: at eighteen fifty three eighty announce Bloomberg Surveillance is next
Speaker 1: with Tom King, Jonathan Faroe, and Lisa Abramowitz for Karen Moscow.
Speaker 1: I'm Nathan Hagar. This is Bloomberg.