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

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Speaker 1: day Break for Friday, January two. Coming up this hour,

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Speaker 1: the Northeast races for a powerful winter storm. Apple shares

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Speaker 1: rally after sales top estimates, shares of robin Hood plunge

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Speaker 1: on week earnings, led by drops in crypto trading, and

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Speaker 1: Toyota is back on top, reclaiming the mantel of the

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Speaker 1: world's top selling carmaker. Thousands will gather this morning at St.

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Speaker 1: Patrick's for the funeral of a rookie police officer gunned

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Speaker 1: down along with his partner. I'm John Tucker. Details straight ahead,

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Speaker 1: I'm John Stashdown Sports, the Rangers, Islanders and Devils all lost,

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Speaker 1: Raphael the Dallas reached the finals of the Australian Open.

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Speaker 1: That's all straight ahead on Bloomberg day Break on Bloomberg,

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Speaker 1: Elimen Freo, New York, Bloomberg one, Washington, d C, Bloomberg

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Speaker 1: one six one, Boston, Bloomberg nine six, San Francisco, Sirius

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Speaker 1: x M one nine and around the world. Old on

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Speaker 1: Bloomberg Radio dot Com and via The Bloomberg Business. And

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Speaker 1: Good Morning. I'm Nathan Hagar and I'm Karen Moscow. US

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Speaker 1: futures are under pressure this morning, while NASDACK futures rise.

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Speaker 1: It is coming up to six so one on Wall Street.

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Speaker 1: We check the markets every fifteen minutes throughout the trading day.

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Speaker 1: On Bloomberg. Right now, SMP futures are lower down six points,

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Speaker 1: now futures down in ninety and nasday futures are higher

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Speaker 1: of fifty one ten. Your treasury down ten thirties seconds.

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Speaker 1: You at one point eight three percent. They yield on

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Speaker 1: the two year one point to one percent and the

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Speaker 1: euro one point one five against the dollar. Nathan, all right, Karen,

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Speaker 1: we'll have more on the market shortly. First, a powerful

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Speaker 1: storm is bearing down on the Northeast with the promise

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Speaker 1: of snow over the weekend. Bloomberg meteorologist Rob Caroline's got

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Speaker 1: the track on it. What's it looking like, Rob? The

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Speaker 1: storm that's going to be developing off the North Carolina

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Speaker 1: coast later today and developing explosively tomorrow off the coast

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Speaker 1: of New England is going to produce quite a bit

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Speaker 1: of snow, especially for portions of New England. It looks

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Speaker 1: like the district in Baltimore. The snow which starts by

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Speaker 1: late today and Endstein only puts out about one to

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Speaker 1: three inches will be dealing with snow developing in the

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Speaker 1: Tri State area during the evening hours, and looks like

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Speaker 1: the city is probably gonna pick up about six to

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Speaker 1: ten inches, with areas of Long Island seeing over a foot.

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Speaker 1: New England gets the jackpot. The snow doesn't arrive until

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Speaker 1: well after midnight tonight, but it comes down hard at

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Speaker 1: times tomorrow and it's gonna be very windy. Parts in

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Speaker 1: the Wingland will see well and excessive a foot. All right, Rob,

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Speaker 1: So when do you think the snow is gonna end?

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Speaker 1: The storm will wind down in the district, probably after

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Speaker 1: midnight tonight. One to three inches looks likely for the city.

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Speaker 1: It's gonna wind down late in the afternoon early evening

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Speaker 1: on Saturday. And from Boston, we're talking about the snow

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Speaker 1: ending not until the early morning hours of Sunday. And

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Speaker 1: again there was probably over a foot in Boston. I'm

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Speaker 1: Rob Caroline Bloomberg. Daybreak, All right, Rob, thank you, of course,

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Speaker 1: I'll be checking back with you to get the latest

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Speaker 1: all morning. Now to the markets where shares of Apple

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Speaker 1: are front and center. They're up four percent in early

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Speaker 1: trading after sales at beat estimates, and we get the

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Speaker 1: details from Bloomberg Shirley Pillet. It's a sign Apple was

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Speaker 1: able to work through a supply chain crunch fueled by

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Speaker 1: the Pandem Mac and chip shortages. The surprisingly strong results

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Speaker 1: suggested fears of supply upheaval were overblown. Apple CEO Tim

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Speaker 1: Cook had warm late last year. The shortages could cost

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Speaker 1: the company more than six billion dollars in sales during

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Speaker 1: the all important holiday period, but the tech giant navigated

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Speaker 1: the crisis and benefited from a flood of new products,

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Speaker 1: including the iPhone thirteen, Apple Watch Series seven and updated

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Speaker 1: Max In New York, Charlie Pellett Bloomberg Daybreak. All right, Charlie,

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Speaker 1: thanks down the flip side of earnings. This morning, shares

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Speaker 1: of robin Hood down fifteen per cent. The company posted

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Speaker 1: disappointing earnings across the board. Let's get the latest life

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Speaker 1: from Bloomberg. Shot a young. Good morning Rinita, Good morning Nathan.

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Speaker 1: A year after robin Hood found itself at the center

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Speaker 1: of a meme stock frenzy, it's now facing challenges that

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Speaker 1: could be more difficult to overcome, with fourth quarter revenue

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Speaker 1: and losses that were worse than expected, and the hits

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Speaker 1: came from all directions, a steeper net loss, lower monthly

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Speaker 1: actively users and options in cryptocurrency trading slipped below third

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Speaker 1: quarter levels. That's not all robin Hood's is Operating expenses

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Speaker 1: are expected to rise fifteen to twenty percent this year.

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Speaker 1: Rebin Hood was already down close to seventy percent. Since

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Speaker 1: it's July, I p O and this morning that was

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Speaker 1: before fourth quarter results. Live in New York. I'm gonna

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Speaker 1: need a Young Bloomberg daybreak. I need to thank you.

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Speaker 1: The recent text sell off has taken a bite out

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Speaker 1: of Mark Zuckerberg's fortune and now we're in Buffett as

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Speaker 1: her past the Facebook CEO on billionaires on Bloomberg's Billionaire's Index,

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Speaker 1: so we get more on that from Bloomberg's Don Christner.

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Speaker 1: It's a reminder of the enduring power of Buffet's approach

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Speaker 1: to value investing. It also reflects a precipitous decline in

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Speaker 1: tech stocks since the beginning of the year. Since then, Zuckerberg,

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Speaker 1: co founder of Meta Platforms, has lost fifteen billion dollars,

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Speaker 1: and the richest person in the world, Elon Musk, has

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Speaker 1: seen his net worth falled by fifty four billion the

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Speaker 1: relative resilience has been in value. The bedrock of buffets

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Speaker 1: investment philosophy. His Berkshire Hathaway has out performed tech so

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Speaker 1: far this year, declining just four. Tech is down in

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Speaker 1: New York. On Doug Prisoner Bloomberg Daybreak, and Doug, you

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Speaker 1: can blame some of that Tech weakness on the Fed,

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Speaker 1: as investors now brace for a possible five rate hikes

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Speaker 1: this year. This morning, there's an important economic reading that

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Speaker 1: the Central Bank watches closely, the Employment Cost Index. Today's

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Speaker 1: reading could be another hot one. Let's get more from

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Speaker 1: Bloomberg's viny tell Juda Ice. Everyone likes a fatter paycheck,

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Speaker 1: and the third quarter employment cost index posted a record

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Speaker 1: increase at the same time. We all pay as business

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Speaker 1: as lift prices to recover labor costs. Bloomberg Economics, as

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Speaker 1: today's number could be a keeper as inflation rages. It's

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Speaker 1: more reliable than average gy really earnings as it's less

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Speaker 1: affected by specific industry trends. They meet Dell Judace Bloomberg Daybreak,

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Speaker 1: and he thank you. Back to the markets now, Oil

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Speaker 1: trading near its highest level in seven years, and fat

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Speaker 1: crude is headed for a sixth straight weekly game traders

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Speaker 1: say robust demand plus heightened geo political risks or see

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Speaker 1: the gains and checking prices. Now nine mex screwed oil

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Speaker 1: is up three tenths per cent or twenty eight cents

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Speaker 1: at eighty six dollars eighty nine cents a barrel. Brent

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Speaker 1: is up four tens percent at eighty nine dollars seventy

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Speaker 1: two cents. Now definitely a far cry from the height

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Speaker 1: of the pandemic. Karen, when oil touched thirty three dollars

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Speaker 1: of barrel speaking of the pandemic, looks like Hong Kong's

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Speaker 1: making a move to ease COVID restrictions, shortening quarantine requirements

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Speaker 1: for incoming travelers. Bloomberg Daybreak Asia anchor Brian Curtis has

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Speaker 1: the details. The Hong Kong government is reducing the quarantine

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Speaker 1: from twenty one days to fourteen. That's still about the

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Speaker 1: toughest in the world, and Hong Kong is maintaining a

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Speaker 1: ban on people arriving from eight countries, including the US,

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Speaker 1: the UK, and Australia. The shorter quarantine period will begin

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Speaker 1: February five, after fourteen days. In the hotel room, people

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Speaker 1: will have to self monitor for seven days Brian Curtis,

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Speaker 1: Bloomberg Daybreak Brian, thank you and staying in Asia right now.

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Speaker 1: Toyota finished NOWWY one is the world's top selling automaker again.

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Speaker 1: The Japanese company kept production on track just by a

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Speaker 1: year of supply chain turmoil. Toyota and its subsidiary Soul

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Speaker 1: ten and a half million vehicles at ten percent increase.

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Speaker 1: Runner up Volkswagen sold just shy of nine million, and

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Speaker 1: again Nastack Future is on the rise, up thirty two points.

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Speaker 1: This morning straight Ahead, your latest local headlines, plus a

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Speaker 1: check of sports. And this is Bloomberg. Thanks Karen six

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Speaker 1: seven on Wall Street, Clouds and thirty degrees in Central

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Speaker 1: Park ahead of the northeaster headed our way. Let's get

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Speaker 1: the details on that. More going on in New York

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Speaker 1: and around the world with Bloomberg's John Tucker. Good morning, John, Nathan.

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Speaker 1: New York police officers deliver a final salute today to

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Speaker 1: Jason Rovera, a rookie cop down gunned down with his

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Speaker 1: partner a week ago. A funeral mass plan at St.

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Speaker 1: Patrick's Cathedral for the officer, who, at age twenty two,

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Speaker 1: was recently married and barely into his second year of

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Speaker 1: service on the Force. Cardinal Dolan will preside over the

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Speaker 1: service today. Many of the city's top leaders in attendance.

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Speaker 1: Rovera and his partner, officer Wilbert Mora, were fatally wounded

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Speaker 1: January twenty one by a gunman who ambushed them in

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Speaker 1: a hallway as they responded to a family dispute. Mora's

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Speaker 1: funerals being held next week and a call that Ukraine's leader.

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Speaker 1: President Biden has reaffirmed total support the story from Bloomberg,

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Speaker 1: said Baxter. In a White House readout, Biden underscored the

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Speaker 1: commitment to Ukraine's sovereignty and territorial integrity. Biden said he's

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Speaker 1: exploring other macro economic support and a decisive response of

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Speaker 1: russia troops invade. But as communications continue to go back

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Speaker 1: and forth, State Department Deputy Secretary Wendy Sherman says, Russia

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Speaker 1: continues to move at the border. Certainly see every indication

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Speaker 1: that he is going to use military force. Sherman says,

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Speaker 1: sometime between now and mid February. Russia says, meanwhile, it

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Speaker 1: will need time to look at US proposals. In San Francisco,

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Speaker 1: I'm at Baxter Bloomberg Daybreak. President Biden says he'll name

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Speaker 1: his joints to replace retiring Supreme Court Justice Stephen Bryer

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Speaker 1: by the end of February. Announcing his retirement of the

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Speaker 1: White House yesterday, Brian reflected on his decades on the bench.

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Speaker 1: When you sit there and see all those people in

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Speaker 1: front of you, people that are so different in what

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Speaker 1: they think, and yet they've decided to help solve their

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Speaker 1: major differences under law. President Biden intends to nominate a

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Speaker 1: black woman to replace Bryer. Former Alaska Governor Sarah Palin

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Speaker 1: was spotted dining out at a New York City restaurant

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Speaker 1: two days they after attempting positive for the coronavirus to

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Speaker 1: visit Wednesday to the up Scales Elios drew attention from

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Speaker 1: photo snapping bystanders. Palin had also dined there at the

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Speaker 1: same restaurant on Saturday, despite his city rule requiring patrons

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Speaker 1: dining indoors at restaurants to be vaccinated. Global News twenty

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Speaker 1: four hours a day on air and on Bloomberg Quicktake

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Speaker 1: were powered by more than seven hundred journalists and analysts

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Speaker 1: and more than one twenty countries. I'm John Tucker. This

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Speaker 1: is Bloomberg Nathan all Right, John thanks six o nine

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Speaker 1: on Wall Street. Time for the Bloomberg Sports Update with

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Speaker 1: John shown all right. Nathan rafteriel Dale the only one

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Speaker 1: of tennis's Big three who's playing the Australian Open. Roger

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Speaker 1: Federer injured, Novak Djokovic deported Nadal into the finals. He

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Speaker 1: beat Matteo Barrettini in a four set semifinal. The other

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Speaker 1: semi going on now, Daniel Medvedev leads Stefano Sits a

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Speaker 1: fast two sets to one. Only once in the Dal

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Speaker 1: won the Assie Opened That was thirteen years ago. If

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Speaker 1: he wins Sunday, he surpasses Federer and Djokovic. Currently all

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Speaker 1: three have won twenty Grand Slam. Rangers in Columbus up

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Speaker 1: to nothing five minutes in, but then down four to two.

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Speaker 1: Blue Jackets won five three are Temmy Panarin was in

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Speaker 1: on all three ranger goals. Islanders lost to the King's

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Speaker 1: three to two, so l A went two and one

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Speaker 1: in its tour. Of the three New York area teams.

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Speaker 1: The Devil's lost in Tampa three to two. They dropped

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Speaker 1: six of seven at the Garden Tonight. It's the Rangers

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Speaker 1: of the Minnesota Wild and Henrik Lunkwist will have his

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Speaker 1: jersey number thirty retired. In advance, he went on the

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Speaker 1: tonight Joe Jimmy Fallon's Amazon. It's a surreal feeling, you know,

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Speaker 1: to have. Obviously, the moment itself is going to be incredible,

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Speaker 1: but olson opportunity to bring all the people uh to

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Speaker 1: Madison Square, guard people that meant so much to me

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Speaker 1: throughout my journey, friends, family, and most importantly all the

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Speaker 1: fans that supported me throughout my career. It's gonna be amazing.

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Speaker 1: Monk was fifteen years the range was starting goaling. Two

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Speaker 1: NFL teams hired new coaches, Nathaniel Hackett and Denver. He's

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Speaker 1: been the offense repporter in Green Bay, Chicago, going with

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Speaker 1: Indianapolis assistant Matt Everett lost. The Giants said to be

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Speaker 1: decided between Brian Dabole and Brian Flores. Decision could come

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Speaker 1: today or tomorrow. John stash Award Bloomberg, all right, John,

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Speaker 1: thanks right now. SMP futures are down thirteen points down,

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Speaker 1: The yield one point eight three percent. A pandemic update

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Speaker 1: x Andy Peco should the Johns Hopkins Bloomberg School of

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Speaker 1: Public Health joins us. This is Bloomberg Bloomberg day Break

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Speaker 1: Com today, markets headlines and breaking news twenty four hours

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Speaker 1: a day at Bloomberg dot com. For the Bloomberg Business

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Speaker 1: at Land at Bloomberg Quick Take Truce is a Bloomberg

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Speaker 1: Business flash. Thank good morning, I'm paren Moscow. NASDAG futures

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Speaker 1: how they were on the rise for much of the morning,

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Speaker 1: lower this morning. European cheers also falling extending a job

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Speaker 1: after Germany's economy shrank more than expected. We checked the

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Speaker 1: Right now, S and P futures are down twenty one

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Speaker 1: point so they've been deterior rating as well. That features

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Speaker 1: down a hundred eighty three nasdack features down twenty two

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Speaker 1: The decks in Germany's down two percent, also deteriorating. Can

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Speaker 1: to one percent. Nimex screwed oils at the third cent

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Speaker 1: a barrel comic school down eight ten percent or fourteen

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Speaker 1: dollars ten cents at seventeen eighty one. Announced the euro

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Speaker 1: fifteen point six zero. Watching Bitcoin, it's moving higher at

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Speaker 1: thirty six thousand and four hundred fifty dollars. And as

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Speaker 1: a Bloomberg business flash. Now here's John Tucker with more

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Speaker 1: on what's going on around the world. John Karena. A

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Speaker 1: gusty winter storm remains on, tracked to batter the east

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Speaker 1: coast New York City. You could get as much as

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Speaker 1: ten inches as snow. President blidens his he'll fulfill He

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Speaker 1: has promised to nominate the first black woman on the U. S.

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Speaker 1: Supreme Court after plotting retiring Justice Stephen Bryer, and Roush's

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Speaker 1: Foreign Ministers says the American proposal to defuse tensions with

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Speaker 1: Ukraine do contain rational elements. Sports in tennis, Raphael Nadal

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Speaker 1: advances to the finals of the Australian Open, The Rangers

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Speaker 1: Islanders Devils All Loose, and basketball The Warriors beat the Timberwolves.

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

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Speaker 1: Bloomberg Quicktake. We're powered by more than twenty seven hundred

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

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Speaker 1: I'm John Tucker. This is Bloomberg Nathan. Thanks John. It's

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Speaker 1: six nineteen on Wall Street Life from the Bloomberg Interactive

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Speaker 1: Broker Studios. This is Bloomberg Daybreak and it's time for

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Speaker 1: our weekly check up on the pandemic with Andy Pecosh,

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Speaker 1: Professor of Molecular Microbiology and Immunology at the Johns Hopkins

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Speaker 1: Bloomberg School of Public Health. Professor Pecosh, it's always good

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Speaker 1: to speak with you. And if I'm reading the trends right,

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Speaker 1: it looks like cases are moving lower while deaths are

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Speaker 1: on the rise. What does that tell us about where

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Speaker 1: we are in this oh macron wave well, we always

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Speaker 1: know that cases um are come through faster than the

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Speaker 1: deaths and hospitalization rates, and so for parts of the

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Speaker 1: country that has peaked early with all macron, you'd expect

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Speaker 1: to see the deaths uh lag behind those peaks a

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Speaker 1: little bit more. But it's important to note that other

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Speaker 1: seeing surges of macron cases in some states. So it's

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Speaker 1: really important for you to think about the local conditions

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Speaker 1: as you start to think about going out and doing

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Speaker 1: other activities. As we think about these things, we're seeing

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Speaker 1: certain places around the world start to ease up on restrictions.

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Speaker 1: international travelers who arrive. We've seen San Francisco remove an

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Speaker 1: indoor mask mandate as long as people can show that

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Speaker 1: they're up to date on their shots. How should we

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Speaker 1: be striking the balance when it comes to sort of

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Speaker 1: easing up on COVID restrictions. Well, you know, it's a

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Speaker 1: multi said an approach is always helpful. You know, we

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Speaker 1: have testing capacity in terms of rapid image and tests

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Speaker 1: that are becoming more and more available each week. UM,

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Speaker 1: we know a lot about the period of time in

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Speaker 1: which you're infectious, particularly if you're vaccinated, and we can

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Speaker 1: and isolation of cases while which can maintain you know,

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Speaker 1: our our our ability to stop case numbers from from increasing,

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Speaker 1: but also get people back into society faster. UM. I

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Speaker 1: think it's really important again to note that there are

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Speaker 1: some variations in terms of cases around. You don't want

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Speaker 1: to ease up on these restrictions right after you've hit

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Speaker 1: the peak. You want to wait until case numbers are

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Speaker 1: dropping and maybe even plateauing before you start letting up

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Speaker 1: on restrictions, because otherwise you're really setting up up a

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Speaker 1: possibility for a second surgery cases if you let up

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Speaker 1: these restrictions too early. Where do you see the case

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Speaker 1: counts going right now? It seems like they're still pretty

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Speaker 1: elevated compared to where we are or where we were

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Speaker 1: in earlier parts of the pandoing. Absolutely, and I think

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Speaker 1: the big question right now is is you know, we

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Speaker 1: always expect case numbers to start dropping, but where they

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Speaker 1: settle in is really the big question mark. You know,

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Speaker 1: we have a lot more unvaccinated people here in this

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Speaker 1: country than in other countries that have seen omicron surges.

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Speaker 1: So is that Does that mean that we're going to

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Speaker 1: settle in at a higher plateau of cases a week

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Speaker 1: or two weeks from now, or we're going to continue

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Speaker 1: to drop down to really low levels like we saw

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Speaker 1: a sort of pre delta. That's a big question mark

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Speaker 1: right now, and we're really just going to have to

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Speaker 1: monitor each individual state and areas to see how these

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Speaker 1: things go and where we plateau and case numbers. We

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Speaker 1: may have a lower levels of vaccination when it comes

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Speaker 1: to many other countries with similar sized economies. At the

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Speaker 1: same time, we have a lot of people who have

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Speaker 1: gotten infected as well, whether it was mild or severe.

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Speaker 1: Do we have a mix of vaccinated and infected people

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Speaker 1: where we can start thinking about whether we're getting close

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Speaker 1: to an endemic stage for the COVID pandemic. Yeah, absolutely,

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Speaker 1: I think I think we now have to start considering

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Speaker 1: because of the large numbers of cases that caused by O. Macron,

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Speaker 1: we now have to start considering how that population immunity

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Speaker 1: is changing because of UH infection alone as well as

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Speaker 1: the vaccinated population UM. Initial data though, is showing that

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Speaker 1: the O macron infections UM aren't providing as much broad

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Speaker 1: immunity as previous variants. So it may still mean that

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Speaker 1: if you've got an omicron infection that you're much better

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Speaker 1: off getting a vaccination a few weeks later to really

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Speaker 1: boost your immunity and broaden your immunity so that you

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Speaker 1: can be recognizing more different variants. That's the research that's

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Speaker 1: really sort of at at the at the forefront right

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Speaker 1: now to try to understand how these O macron immune

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Speaker 1: responses are going to protect us from future variant. As always, Professor,

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Speaker 1: thank you for your insights and the information. Andy Pecos

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Speaker 1: is Professor of Molecular Microbiology and Immunology at the Johns

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Speaker 1: Hopkins Bloomberg School of Public Health, which is supported by

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Speaker 1: Michael Bloomberg. He's the founder and majority owner of Bloomberg LP,

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Speaker 1: that is the parent company of Bloomberg Radio. Looking at markets, uh,

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Speaker 1: now all the futures are falling. Nastack futures had been

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Speaker 1: higher on Apple's earnings, but now uh they are modestly lower,

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Speaker 1: with Nastack futures down eight points now. S ANDP futures

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Speaker 1: are down eighteen points. Stow futures leading declines this morning

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Speaker 1: down a hundred eighty nine points, are a little more

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Speaker 1: than a half percent ten Your treasuries down twelve thirty seconds,

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Speaker 1: the yield one point eight four percent, and the yield

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Speaker 1: on the two year right now one point to one percent.

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Speaker 1: Checking Bitcoin, it's still in the green at thirty six thousand,

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Speaker 1: four hundred dollars straight ahead tail two earnings. We'll look

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Speaker 1: at Apple and Robin Hood and we'll have a look

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Speaker 1: at and Bloment cost index data that the Fed takes

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Speaker 1: a very close eye at. This is Bloomberg Bloomberg eleven

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Speaker 1: three oh weather. Eyes on the skies this morning with

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Speaker 1: a northeaster on the way, six to ten inches of

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Speaker 1: snow possible in the city. Will be in the low

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Speaker 1: thirties tomorrow, upper twenties by Sunday, broadcasting live from the

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Speaker 1: Bloomberg Interactive Broker Studio in New York. Bloomberg E Loving

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Speaker 1: Freedom to Washington, d C, Bloomberg nine to Boston, Bloomberg

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Speaker 1: on A six one to San Francisco, Bloomberg NAM sixty

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Speaker 1: to the country, Sirius XM H one nine and around

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Speaker 1: the globe. The Bloomberg Business in Bloomberg Radio dot com.

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Speaker 1: This is Bloomberg day Break six thirty on Wall Street.

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Speaker 1: Good morning, I'm Nathan Hagar and I'm Karen Moscow. We're

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Speaker 1: just about three hours away from the open of US trading.

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Speaker 1: Time for the five things you need to know to

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Speaker 1: start your day, brought to you by Interactive Brokers. Investment

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Speaker 1: advisers switched to Interactive Brokers for the lowest cost global

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Speaker 1: conflicts of your interest. At I b k R dot

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Speaker 1: com slash r I a a powerful store. I'm heading

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Speaker 1: for the northeast. Stay tuned for the latest or the

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Speaker 1: Bloomberg meteorologist robed Carolyn in just a minute. But first

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Speaker 1: shares of Apple are higher this morning after sales that

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Speaker 1: beat estimates. Ed Ludlow has more from our Bloomberg nine

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Speaker 1: sixty news room in San Francisco. Apple recorded record revenue

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Speaker 1: of a hundred and twenty four billion dollars in the

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Speaker 1: fiscal first quarter, record sales across segments like the iPhone, wearables,

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Speaker 1: mac and services. There was disruption in the supply chain,

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Speaker 1: particularly with semiconductors that largely impacted the iPad, where sales

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Speaker 1: missed estimates. But things look bright for Apple as they

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Speaker 1: go into a big year in two. Ed Ludlow, Bloomberg News,

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Speaker 1: San Francisco. All right, thanks on the flip side. Shares

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Speaker 1: of RA and Hunter down almost fifteen percent this morning

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Speaker 1: following disappointing earnings. Let's get the latest live from Bloomberg.

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Speaker 1: Trinita Young, Good morning, Granita, Good morning Nathan. A year

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Speaker 1: after robin Hood found itself at the center of a

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Speaker 1: meme stock frenzy, it's now facing challenges that could be

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Speaker 1: more difficult to overcome, with fourth quarter revenue and losses

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Speaker 1: that were worse than expected, and the hits came from

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Speaker 1: all directions, a steeper net loss, lower monthly active users

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Speaker 1: and options in cryptocurrency trading slipped below third quarter levels.

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Speaker 1: Robin Hood has already was already down close to seventy

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Speaker 1: since its i p O in July, and that's before

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Speaker 1: this latest earnings miss. Live in New York, I'm Nita Young,

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Speaker 1: Bloomberg Daybreak, Reny to thank you. Economic data also and

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Speaker 1: focus this morning at ten am Wall Street time, the

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Speaker 1: Labor Department issues its employment cost into Actually that's the

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Speaker 1: broadest measure of labor costs and one that the FED

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Speaker 1: watches closely. In corporate news, Karen Toyota is back on top.

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Speaker 1: It finished out one is the world's top selling automaker again,

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Speaker 1: beating out Volkswagen by roughly one and a half million cars.

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Speaker 1: And back to the markets now, oil trading near its

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Speaker 1: highest level in seven years. In fact, crude is headed

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Speaker 1: for a six straight weekly gain. Traders a robust deman

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Speaker 1: plus heightened geopolitical risks are causing the games. Checking prices now,

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Speaker 1: nim Ex screwed oil up seven tenths per cent or

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Speaker 1: sixty three cents at eighty seven dollars twenty three cents

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Speaker 1: of barrel Brent is up nine ten percent at ninety

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Speaker 1: dollars ten cents. And that's the five things you need

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Speaker 1: to know to start your day. Brought to you by

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Speaker 1: Interactive Brokers. We're also watching earnings, crossing the Bloomberg Caterpillar

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Speaker 1: reporting fourth quarter profit, bad beat analysts estimates straight ahead,

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Speaker 1: your latest local headlines, plus a check of sports. And

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Speaker 1: this is Bloomberg six thirty three on Wall Street, thirty

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Speaker 1: degrees in Central Park and road closures around St. Patrick's Cathedral.

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Speaker 1: John Tucker's here with what's going on in New York

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Speaker 1: and around the world. Good morning, John, Good morning Day

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00:23:48,520 --> 00:23:51,679
Speaker 1: in the morning. Funeral is planned at St. Patrick's Cathedral

428
00:23:51,720 --> 00:23:54,840
Speaker 1: for a rookie police officer gunned down with his partner

429
00:23:54,880 --> 00:23:57,280
Speaker 1: a week ago. Let's get more in this report from

430
00:23:57,280 --> 00:24:01,639
Speaker 1: Bloomberg's Lisa Mateo. Jason Rivera was twenty two. He was

431
00:24:01,720 --> 00:24:04,840
Speaker 1: recently married and barely into his second year of service

432
00:24:04,880 --> 00:24:08,320
Speaker 1: on the force. Cardinal Timothy Dolan will preside over the service.

433
00:24:08,480 --> 00:24:11,359
Speaker 1: Many of the city's top leaders will attend. Rivera and

434
00:24:11,400 --> 00:24:15,240
Speaker 1: a partner, officer, Wilbert Mora, were fatally wounded January twenty

435
00:24:15,240 --> 00:24:17,600
Speaker 1: one by a gunman who ambushed them in a hallway

436
00:24:17,680 --> 00:24:20,720
Speaker 1: as they responded to a family dispute. Mora's funeral is

437
00:24:20,800 --> 00:24:24,200
Speaker 1: being held next week. Thousands of uniformed officers, as well

438
00:24:24,240 --> 00:24:28,280
Speaker 1: as ordinary citizens, filed into the cathedral yesterday for Rivera's wake.

439
00:24:28,480 --> 00:24:32,240
Speaker 1: Friends and fellow officers remembered Rivera and Maura as caring

440
00:24:32,359 --> 00:24:36,560
Speaker 1: and dedicated. Lisa Mateo Bloomberg Radio. A major winter storm

441
00:24:36,640 --> 00:24:39,879
Speaker 1: expanted to reach most of the East Coast today. Storm

442
00:24:39,880 --> 00:24:43,760
Speaker 1: watches and warnings are posted Bloomberg meteorround. Just Rob Carolyn

443
00:24:43,840 --> 00:24:46,879
Speaker 1: tracking the storm forest this morning. John, While the models

444
00:24:46,880 --> 00:24:49,399
Speaker 1: haven't come completely together, but they are starting out to

445
00:24:49,440 --> 00:24:51,639
Speaker 1: get closer in their solutions. So we're gonna bump up

446
00:24:51,680 --> 00:24:54,520
Speaker 1: the totals, particularly from the city east out over Long Island,

447
00:24:54,760 --> 00:24:56,919
Speaker 1: will be parts of northwestern New Jersey that pick up

448
00:24:56,920 --> 00:24:59,239
Speaker 1: about four inches from the storm. It looks like as

449
00:24:59,280 --> 00:25:01,399
Speaker 1: you cross into the city, six to ten inches is

450
00:25:01,440 --> 00:25:04,120
Speaker 1: likely once you get out on cross Long Island. We're

451
00:25:04,119 --> 00:25:06,800
Speaker 1: talking about foot over a foot in many areas. In fact,

452
00:25:06,920 --> 00:25:08,760
Speaker 1: there'll be some places in eastern Long Island that are

453
00:25:08,800 --> 00:25:11,440
Speaker 1: over eighteen inches from the storm. It all winds down

454
00:25:11,520 --> 00:25:13,840
Speaker 1: lead tomorrow afternoon, and there will be some blowing and drifting,

455
00:25:13,880 --> 00:25:17,320
Speaker 1: especially across the island in coastal Connecticut, John, Rob Carolin,

456
00:25:17,359 --> 00:25:20,760
Speaker 1: thanks very much. President Biden has thanks Supreme Court Justice

457
00:25:20,760 --> 00:25:24,680
Speaker 1: Stephen BRYANIR for his decades on the bench. He has

458
00:25:24,920 --> 00:25:28,320
Speaker 1: patiently saw a common ground and build consensus, seeking to

459
00:25:28,320 --> 00:25:31,919
Speaker 1: bring the court together. I think he's a model public

460
00:25:31,960 --> 00:25:34,880
Speaker 1: servant in a time and great division in this country.

461
00:25:35,119 --> 00:25:37,600
Speaker 1: The retiring Brier will serve out the remainder of the

462
00:25:37,640 --> 00:25:40,840
Speaker 1: Court's term. President Biden plans to nominate a black woman

463
00:25:40,920 --> 00:25:43,199
Speaker 1: to replace him, and the US is calling for a

464
00:25:43,280 --> 00:25:47,240
Speaker 1: UN Security Council meeting to discuss Russia medicine Ukraine, with

465
00:25:47,280 --> 00:25:49,840
Speaker 1: the U s official Steel fearing that Moscow may attack

466
00:25:49,880 --> 00:25:53,199
Speaker 1: its neighbor at any moment. And China and Russia will

467
00:25:53,240 --> 00:25:56,160
Speaker 1: sign an agreement to build a research station on the Moon.

468
00:25:56,680 --> 00:25:59,480
Speaker 1: The two countries say they aimed to complete basic infrastructure

469
00:25:59,520 --> 00:26:03,560
Speaker 1: construct for the lunar station by twenty five. The announcements

470
00:26:03,600 --> 00:26:06,800
Speaker 1: the latest signs of closer cooperation between the two countries.

471
00:26:07,119 --> 00:26:10,440
Speaker 1: Russian President Putin is expanded to be the most notable

472
00:26:10,480 --> 00:26:13,320
Speaker 1: world leader to visit Beijing for the opening of the

473
00:26:13,359 --> 00:26:16,639
Speaker 1: Winter Olympics next week. Global News twenty four hours a

474
00:26:16,680 --> 00:26:19,240
Speaker 1: day on the Erin on Bloomberg Quicktake, powered by more

475
00:26:19,280 --> 00:26:21,840
Speaker 1: than twenty seven hundred journalists and analysts more than one

476
00:26:21,920 --> 00:26:25,639
Speaker 1: hundred twenty countries. I'm John Tucker. This is Bloomberg, Nathan.

477
00:26:25,800 --> 00:26:33,159
Speaker 1: Thanks John sixty six On Wall Street, John stash Our

478
00:26:33,240 --> 00:26:35,760
Speaker 1: has the Bloomberg Sports Update. Maks Nathan rap there on

479
00:26:35,760 --> 00:26:38,000
Speaker 1: the down, now thirty five years old, hasn't played all

480
00:26:38,080 --> 00:26:40,000
Speaker 1: that much lately, but he's into the finals of the

481
00:26:40,040 --> 00:26:43,119
Speaker 1: Australian Open, he beat Matteo Barrettini in four sets, and

482
00:26:43,200 --> 00:26:46,960
Speaker 1: Daniel Medvedev just beat Stefano Sits the Fas, also in

483
00:26:47,080 --> 00:26:50,360
Speaker 1: four sets. So three thirty a m Sunday, New York

484
00:26:50,400 --> 00:26:54,680
Speaker 1: time Nadal winner of twenty career Grand Slam versus Medvedev,

485
00:26:54,720 --> 00:26:56,520
Speaker 1: who has won only one, but it was the most

486
00:26:56,560 --> 00:26:59,720
Speaker 1: recent one. Last year's US three New York area hockey

487
00:26:59,720 --> 00:27:03,240
Speaker 1: teams all lost Rangers in Columbus five to three, or

488
00:27:03,280 --> 00:27:05,840
Speaker 1: Tammy Piner had a goal to assistant defeat. The Rangers

489
00:27:05,880 --> 00:27:09,600
Speaker 1: come home tonight to play Minnesota. It is Henrik Lunquist night,

490
00:27:09,640 --> 00:27:12,520
Speaker 1: as number thirty will be retired fifteen years as the

491
00:27:12,600 --> 00:27:15,359
Speaker 1: Rangers goalie. Lunkuist won five hundred and twenty games. The

492
00:27:15,400 --> 00:27:17,320
Speaker 1: Islanders lost to the l A King three to two.

493
00:27:17,640 --> 00:27:19,920
Speaker 1: The Devil's lost me to a Champa Bay Nick's play

494
00:27:20,000 --> 00:27:23,160
Speaker 1: tonight in Milwaukee that he does not start until ten o'clock.

495
00:27:23,440 --> 00:27:25,320
Speaker 1: It appears the next coach of the Giants will have

496
00:27:25,359 --> 00:27:29,040
Speaker 1: the first name Bryant, either Buffalo offensive creator Brian Dable

497
00:27:29,160 --> 00:27:32,400
Speaker 1: or Brooklyn native Bryan Flores. It was just fired as

498
00:27:32,400 --> 00:27:34,520
Speaker 1: the head coach in Miami. Flora's at his in person

499
00:27:34,640 --> 00:27:38,639
Speaker 1: interview yesterday, two teams made hires. Denver's going with Nathaniel Hacket,

500
00:27:38,640 --> 00:27:40,520
Speaker 1: who has been the offensive where they're in Green Bay,

501
00:27:40,560 --> 00:27:44,400
Speaker 1: Indianapolis assistant Matt Eberfluss the new head coach in Chicago

502
00:27:44,520 --> 00:27:48,760
Speaker 1: Conference Championship games Sunday, the Chiefs went fifty years without

503
00:27:48,840 --> 00:27:50,240
Speaker 1: going to the Super Bowl, and now they've got a

504
00:27:50,280 --> 00:27:52,800
Speaker 1: chance for three in a row. They host the surprising Bengals,

505
00:27:52,840 --> 00:27:55,600
Speaker 1: who were two and fourteen just two years ago. Then

506
00:27:55,640 --> 00:27:57,800
Speaker 1: it's the forty Niners and Rams in l A. That's

507
00:27:57,800 --> 00:28:00,000
Speaker 1: where Super Bowl fifty six will be played, the nine

508
00:28:00,080 --> 00:28:02,480
Speaker 1: or Law super Bowl fifty four. The Rams blow Super

509
00:28:02,560 --> 00:28:04,560
Speaker 1: Bowl fifty three to the Niners. We finished in third

510
00:28:04,600 --> 00:28:07,680
Speaker 1: place for their division. Just beat the Rams in week

511
00:28:07,800 --> 00:28:10,040
Speaker 1: eighteen in l A. That got them into the flow.

512
00:28:10,480 --> 00:28:13,520
Speaker 1: Not stare I went in Bloomberg story all right, John,

513
00:28:13,560 --> 00:28:15,639
Speaker 1: thanks six thirty seven on Wall Street. Time to take

514
00:28:15,640 --> 00:28:17,520
Speaker 1: a look at stocks and some of the names moving

515
00:28:17,520 --> 00:28:20,679
Speaker 1: in the pre market. Bloomberg Radio and TV Markets correspondent

516
00:28:21,040 --> 00:28:24,560
Speaker 1: Creedy Gufta is with us with a focus on earnings. Obviously,

517
00:28:24,680 --> 00:28:29,680
Speaker 1: Apple is the standout this morning. Creedy. Yeah, top of mind.

518
00:28:30,080 --> 00:28:32,399
Speaker 1: A A p L is your ticker up just shy

519
00:28:32,480 --> 00:28:35,480
Speaker 1: of four percent, gaining after of course an earnings beat,

520
00:28:35,840 --> 00:28:40,240
Speaker 1: and really proving that they can navigate those supply chain issues. Nathan.

521
00:28:40,280 --> 00:28:42,080
Speaker 1: It's interesting to see that tech is going to be

522
00:28:42,560 --> 00:28:45,280
Speaker 1: kind of out in front, out front and center. Excuse

523
00:28:45,280 --> 00:28:48,280
Speaker 1: me when it comes to those earning stories, because it's

524
00:28:48,320 --> 00:28:51,280
Speaker 1: not necessarily reflecting in the stock market of futures. Actually

525
00:28:51,280 --> 00:28:54,320
Speaker 1: had opened in the Asia session higher and now we

526
00:28:54,360 --> 00:28:57,800
Speaker 1: are down in the pre market trading. Nevertheless, Apple shares up.

527
00:28:57,840 --> 00:29:00,400
Speaker 1: The kind of trickle effect is happening a cross of

528
00:29:00,440 --> 00:29:02,960
Speaker 1: its supply chain. Broadcom, for example, a v g O

529
00:29:03,120 --> 00:29:05,880
Speaker 1: is your taker up two point three percent, Skyworks a

530
00:29:05,920 --> 00:29:08,760
Speaker 1: similar story, s w k S is your ticker there,

531
00:29:08,840 --> 00:29:12,480
Speaker 1: up one point three percent, Even the Taiwan Semiconductor manufacturing

532
00:29:12,520 --> 00:29:14,920
Speaker 1: company t s M for those a d r s

533
00:29:15,000 --> 00:29:18,320
Speaker 1: up about five tenths of a percent, Nathan. So, certainly

534
00:29:18,360 --> 00:29:22,360
Speaker 1: we saw a lot of consumers buying Apple products despite

535
00:29:22,400 --> 00:29:25,000
Speaker 1: all the head winds with the economy. And we're seeing

536
00:29:25,040 --> 00:29:27,080
Speaker 1: more evidence of the strength of the consumer from the

537
00:29:27,080 --> 00:29:29,920
Speaker 1: credit card companies this morning, Yeah, and the showing up

538
00:29:29,920 --> 00:29:32,959
Speaker 1: in their stock prices, to Visa and MasterCard putting out

539
00:29:32,960 --> 00:29:35,520
Speaker 1: some credit card data that shows that spending is soaring

540
00:29:35,920 --> 00:29:39,800
Speaker 1: despite that omicron variant headwind. In the short term. The

541
00:29:39,840 --> 00:29:43,160
Speaker 1: ticker V for Visa up four point two percent in

542
00:29:43,200 --> 00:29:46,040
Speaker 1: the pre market. MasterCard up higher as well, by four

543
00:29:46,080 --> 00:29:48,239
Speaker 1: tenths of a percent. M A is the ticker there.

544
00:29:48,280 --> 00:29:50,040
Speaker 1: We should also talk about the other big earning story

545
00:29:50,080 --> 00:29:52,280
Speaker 1: that crossed this morning. That is Caterpillar. Of course, c

546
00:29:52,480 --> 00:29:55,520
Speaker 1: A t s your ticker up three percent, once again

547
00:29:55,560 --> 00:29:58,400
Speaker 1: a similar story to Apple. Their profits are rising, They've

548
00:29:58,400 --> 00:30:00,680
Speaker 1: offset some of those supply costs, and this of course

549
00:30:00,760 --> 00:30:05,000
Speaker 1: is coming auf as they continue to meet demand for diggers, bulldozers, trucks.

550
00:30:05,040 --> 00:30:08,240
Speaker 1: The muted the impact of those rising raw material costinate

551
00:30:08,280 --> 00:30:10,400
Speaker 1: them and to leave you with one downside mover because

552
00:30:10,400 --> 00:30:12,160
Speaker 1: they're give you a ton of good news, I'm gonna

553
00:30:12,160 --> 00:30:14,200
Speaker 1: give you some bad news here, and that of course

554
00:30:14,320 --> 00:30:16,880
Speaker 1: is going to be Western Digital. They also reported earnings,

555
00:30:16,880 --> 00:30:20,640
Speaker 1: their EPs, their sales up fell shot. W DZ is

556
00:30:20,680 --> 00:30:23,840
Speaker 1: your taker down ten percent, uh and it is actually

557
00:30:24,080 --> 00:30:26,080
Speaker 1: the worst performer in the pre market at the moment.

558
00:30:26,240 --> 00:30:29,360
Speaker 1: All right, Bloomberg Radio and TV Markets correspondent Creaty Gupta,

559
00:30:29,720 --> 00:30:31,840
Speaker 1: and as we take a look at stucks as a

560
00:30:31,840 --> 00:30:35,080
Speaker 1: whole ahead of the Friday morning open. A little more

561
00:30:35,120 --> 00:30:38,959
Speaker 1: bad news. As Creaty mentioned, Tech had been leading the

562
00:30:39,000 --> 00:30:42,920
Speaker 1: games this morning, but now futures across the board are

563
00:30:43,080 --> 00:30:46,680
Speaker 1: moving lower. We have SMP futures now down sixteen points, down,

564
00:30:46,720 --> 00:30:50,400
Speaker 1: futures down a hundred fifty two, NASTAC futures are lower

565
00:30:50,520 --> 00:30:53,960
Speaker 1: by ten points, and the tenure treasuries down eleven thirty seconds.

566
00:30:54,000 --> 00:30:56,440
Speaker 1: The yield one point eight three percent, yield on the

567
00:30:56,480 --> 00:31:00,480
Speaker 1: two year one point to one percent. Crews still moving

568
00:31:00,560 --> 00:31:04,000
Speaker 1: higher on the NYMEX, up seven tenth at eight eighteen

569
00:31:04,000 --> 00:31:08,320
Speaker 1: of barrel. Brent has touched ninety dollars one for a

570
00:31:08,360 --> 00:31:11,960
Speaker 1: barrel of the international benchmark in bitcoin still in the

571
00:31:11,960 --> 00:31:15,600
Speaker 1: green thirty six thousand, four hundred dollars. An update for

572
00:31:15,640 --> 00:31:18,800
Speaker 1: the nation's capital next to Bloomberg, Government's Emily Wilkins. This

573
00:31:19,000 --> 00:31:24,880
Speaker 1: is Bloomberg Bloomberg eleven three oh weather bracing for snow

574
00:31:24,960 --> 00:31:26,760
Speaker 1: six to ten inches for the city. More than a

575
00:31:26,800 --> 00:31:30,040
Speaker 1: foot possible on Long Island by Sunday. A mix of

576
00:31:30,040 --> 00:31:31,960
Speaker 1: sun and clouds and highs in the upper twenties. We

577
00:31:31,960 --> 00:31:37,760
Speaker 1: can dig out right now. It's thirty in Central Park Markets.

578
00:31:37,840 --> 00:31:40,920
Speaker 1: Headlines and breaking news twenty four hours a day at

579
00:31:40,920 --> 00:31:44,360
Speaker 1: Bloomberg dot Com, the Bloomberg Business Out and at Bloomberg

580
00:31:44,400 --> 00:31:54,320
Speaker 1: Quicktape's He's a Bloomberg Business Flash, but I'm Karen Moscow,

581
00:31:54,440 --> 00:31:57,680
Speaker 1: so I'm breaking earnings, crossing the Bloomberg chevron, posting disappointing

582
00:31:57,680 --> 00:32:00,000
Speaker 1: profits after the oil giant failed to take full advance

583
00:32:00,080 --> 00:32:02,960
Speaker 1: nage of surging energy prices. As economies around the world

584
00:32:03,000 --> 00:32:06,680
Speaker 1: rebounded from the pandemic, and futures this morning are moving lower.

585
00:32:06,720 --> 00:32:08,680
Speaker 1: We got the first word breaking news dance for today's

586
00:32:08,720 --> 00:32:12,440
Speaker 1: morning call. Here's Bill Maloney. Theyll good morning, Hey, good

587
00:32:12,440 --> 00:32:14,320
Speaker 1: morning here, and that's right. US features are in the

588
00:32:14,360 --> 00:32:16,200
Speaker 1: red right now at doubt. Futures down a hundred and

589
00:32:16,200 --> 00:32:19,320
Speaker 1: eighty one points, sps drop nineteen one that step futures

590
00:32:19,320 --> 00:32:22,080
Speaker 1: are lower by seven. The US ten yeld at one

591
00:32:22,120 --> 00:32:24,800
Speaker 1: point eight four percent, Gold is down fourteen. Oil is

592
00:32:24,840 --> 00:32:28,560
Speaker 1: trading higher, but bitcoin is little changed. Japan rose two

593
00:32:28,560 --> 00:32:31,760
Speaker 1: point one percent overnight, while eup markets are also under pressure,

594
00:32:31,960 --> 00:32:34,880
Speaker 1: led by two percent losses in Germany. Back in the

595
00:32:35,000 --> 00:32:37,600
Speaker 1: US on the Economic Frinday, thirty pc e and at

596
00:32:37,640 --> 00:32:41,440
Speaker 1: ten o'clock Michigan sentiment after develos night, Apple beat estimates,

597
00:32:41,480 --> 00:32:44,600
Speaker 1: Robert loss was wider than expected, shares it on fourteen

598
00:32:44,640 --> 00:32:48,280
Speaker 1: percent in the pre market, and Visa EPs spat estimates.

599
00:32:48,280 --> 00:32:51,600
Speaker 1: Regarding the other earnings this morning, cappitul ep speed estimates,

600
00:32:51,720 --> 00:32:54,280
Speaker 1: and in other news, Shopify's price target was cut to

601
00:32:54,360 --> 00:32:57,760
Speaker 1: nine hundred from fourteen hundred. Over at Mizzooho and wrapping

602
00:32:57,760 --> 00:33:00,360
Speaker 1: things up, TERRIDGN was cut to hold over joint You

603
00:33:00,440 --> 00:33:03,440
Speaker 1: Bank Live from the first breaking news discom But Maloney,

604
00:33:03,480 --> 00:33:05,880
Speaker 1: Karen Orry, Bill, thank you, and here live breaking news

605
00:33:05,880 --> 00:33:08,560
Speaker 1: over a Bloomberg type swak on your terminal, s q

606
00:33:08,760 --> 00:33:11,240
Speaker 1: U A w K and that's a Bloomberg business flash.

607
00:33:11,240 --> 00:33:13,400
Speaker 1: Now here's John Tucker with more on what's going on

608
00:33:13,440 --> 00:33:16,680
Speaker 1: around the world. John Karen, Rush's foreign minister says the

609
00:33:16,720 --> 00:33:21,240
Speaker 1: American proposal to defuse tensions with Ukraine contains rational elements.

610
00:33:21,640 --> 00:33:24,840
Speaker 1: President Biden says he will fulfill his promise to nominate

611
00:33:24,880 --> 00:33:26,840
Speaker 1: the first black woman on the U. S. Supreme Court

612
00:33:27,120 --> 00:33:31,560
Speaker 1: after applauding retiring Justice Stephen Bryer. And a gusty winter

613
00:33:31,720 --> 00:33:34,880
Speaker 1: storm remains on track to batter the East coast. New

614
00:33:34,920 --> 00:33:37,640
Speaker 1: York City could get as much as ten inches of

615
00:33:37,760 --> 00:33:41,560
Speaker 1: snow sports. In tennis, Raphael In the Dale advances to

616
00:33:41,600 --> 00:33:45,479
Speaker 1: the finals of the Australian Open. The Rangers Islanders devils.

617
00:33:45,520 --> 00:33:50,080
Speaker 1: They all lose. Basketball The Warriors beat the Timberwolves. Global

618
00:33:50,080 --> 00:33:52,200
Speaker 1: News twenty four hours a day on erind on Bloomberg

619
00:33:52,280 --> 00:33:55,320
Speaker 1: Quicktake Power by more than twenty seven hundred journalists and

620
00:33:55,360 --> 00:33:58,840
Speaker 1: analysts and more than one twenty countries. I'm John Tucker.

621
00:33:59,160 --> 00:34:03,840
Speaker 1: This is blue Burg. The following commentary is from Bloomberg Opinion,

622
00:34:04,880 --> 00:34:08,279
Speaker 1: The Hidden Perils of Canceling your retirement and Alexis Leandus

623
00:34:08,320 --> 00:34:11,960
Speaker 1: a Calmness for Bloomberg Opinion. Some three million people retired

624
00:34:12,080 --> 00:34:16,640
Speaker 1: earlier than they expected during the pandemic, voluntarily or not. Now,

625
00:34:16,760 --> 00:34:19,560
Speaker 1: savings running thin, the latest COVID wave, on the brink

626
00:34:19,600 --> 00:34:23,480
Speaker 1: of subsiding, and talk rising about plentiful jobs and rising wages,

627
00:34:23,840 --> 00:34:26,560
Speaker 1: many older people might be tempted to return to work.

628
00:34:27,160 --> 00:34:30,000
Speaker 1: If so, they should proceed with caution. It's not going

629
00:34:30,040 --> 00:34:33,080
Speaker 1: to be as simple as collecting a paycheck again. Anyone

630
00:34:33,120 --> 00:34:37,400
Speaker 1: considering unretiring needs to adjust their expectations. They probably won't

631
00:34:37,400 --> 00:34:39,200
Speaker 1: be able to return to the same level job as

632
00:34:39,239 --> 00:34:41,400
Speaker 1: they left. If they can get hired at all, and

633
00:34:41,440 --> 00:34:44,520
Speaker 1: we'll get paid less. Bring social security into the picture,

634
00:34:44,719 --> 00:34:47,680
Speaker 1: and the decision gets even more complicated. For those still

635
00:34:47,719 --> 00:34:51,000
Speaker 1: in the workforce dreaming of an early retirement, knowing how

636
00:34:51,000 --> 00:34:53,399
Speaker 1: hard it can be to unretired may be the best

637
00:34:53,480 --> 00:34:56,120
Speaker 1: argument for hanging in there as long as possible. And

638
00:34:56,239 --> 00:34:59,640
Speaker 1: Alexis Leondis. For more opinion, please go to Bloomberg dot com,

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00:34:59,640 --> 00:35:03,399
Speaker 1: slash opinion or opi and go on Bloomberg. Terminal has

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00:35:03,440 --> 00:35:07,160
Speaker 1: been Bloomberg Opinion and Bloomberg Opinion Commentary is can be

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00:35:07,200 --> 00:35:09,960
Speaker 1: heard every weekday at this time and terminal customers can

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00:35:10,000 --> 00:35:12,680
Speaker 1: read more at l P I n go. It is

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00:35:12,719 --> 00:35:14,640
Speaker 1: a fifty on Wall Street. We turned to news and

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00:35:14,680 --> 00:35:17,400
Speaker 1: science and technology now with the Bloomberg and j I. T.

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00:35:17,640 --> 00:35:20,320
Speaker 1: Stamper Report. It has brought to you by New Jersey

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00:35:20,320 --> 00:35:23,960
Speaker 1: Institute of Technology, ranked top fifty national public university by

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00:35:24,040 --> 00:35:27,160
Speaker 1: US News and World Report and top ten for best

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00:35:27,200 --> 00:35:30,960
Speaker 1: career placement among public schools by the Princeton Review. More

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00:35:31,000 --> 00:35:33,680
Speaker 1: at n j I T dot E DU Now. Here's

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00:35:33,680 --> 00:35:37,120
Speaker 1: what's making news and science, technology, engineering, and math. A

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00:35:37,160 --> 00:35:40,520
Speaker 1: new study says gas stoves are contributing more to global

652
00:35:40,560 --> 00:35:45,080
Speaker 1: warming than previously thought because of constant tiny methane links

653
00:35:45,080 --> 00:35:48,200
Speaker 1: while they're off. The same study, published in the journal

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00:35:48,280 --> 00:35:52,239
Speaker 1: Environmental Science and Technology raises new concerns about indoor air

655
00:35:52,320 --> 00:35:56,080
Speaker 1: quality and health because of levels of nitrogen oxides measured.

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00:35:56,480 --> 00:35:59,760
Speaker 1: Toyota is working with Japan's Space Agency on a vehicle

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00:35:59,840 --> 00:36:02,840
Speaker 1: to explore the lunar service, with ambitions to help people

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00:36:02,920 --> 00:36:05,319
Speaker 1: live on the Moon by twenty and then go live

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00:36:05,400 --> 00:36:08,480
Speaker 1: on Mars. The vehicle is called Lunar Cruiser, whose name

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00:36:08,520 --> 00:36:11,720
Speaker 1: pays homage to the Toyota Land Cruiser sport utility vehicle.

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00:36:12,120 --> 00:36:15,040
Speaker 1: Its launch is set for the late twenties. The vehicles

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00:36:15,080 --> 00:36:17,360
Speaker 1: based on the idea that people eat, work, sleep, and

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00:36:17,360 --> 00:36:20,400
Speaker 1: communicate with others sifely in cars, and the same can

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00:36:20,440 --> 00:36:23,359
Speaker 1: be done in outer space. And Google will invest as

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00:36:23,400 --> 00:36:25,920
Speaker 1: much as one billion dollars in India's second largest mobile

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00:36:25,920 --> 00:36:29,160
Speaker 1: phone operator. As firms race to offer inexpensive data and

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00:36:29,200 --> 00:36:32,800
Speaker 1: digital offerings, Alphabet, which owns the Google Search engine, is

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00:36:32,840 --> 00:36:36,360
Speaker 1: taking a nearly one point three percent stake in Barti Airtel.

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Speaker 1: And that's the Bloomberg n j I t STEM Report.

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Speaker 1: Nathan Thanks Karen or live from the Bloomberg Interactor Brokers Studios,

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00:36:42,960 --> 00:36:45,000
Speaker 1: where it's coming up to six fifty two on Wall

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00:36:45,000 --> 00:36:46,799
Speaker 1: Street Time Now to check what's going on in BC.

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00:36:47,440 --> 00:36:49,600
Speaker 1: Some of the top stories in our nation's capital include

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00:36:49,600 --> 00:36:52,239
Speaker 1: President Biden warning of a possible Russian attack and a

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00:36:52,239 --> 00:36:55,759
Speaker 1: call with Ukraine's president, Republicans bounting against the bill aimed

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00:36:55,800 --> 00:36:59,080
Speaker 1: at boosting competitiveness against China, and the President heading to

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00:36:59,160 --> 00:37:02,560
Speaker 1: Pittsburgh to prom infrastructure while a couple top state Democrats

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00:37:02,920 --> 00:37:06,080
Speaker 1: aren't going to be there. Also making news, Vice President

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00:37:06,120 --> 00:37:09,920
Speaker 1: Kamala Harris potentially making history as a tiebreaker for President

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00:37:09,960 --> 00:37:13,200
Speaker 1: biden Supreme Court pick. We're joined now by Bloomberg Government

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00:37:13,239 --> 00:37:16,480
Speaker 1: reporter Emily Wilkins while we wait for the President to

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00:37:16,680 --> 00:37:21,640
Speaker 1: announce who he may nominate to succeed retiring Justice Stephen Bryer. Emily,

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00:37:21,760 --> 00:37:24,240
Speaker 1: interesting story on the terminal from your colleague Greg Darrow

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00:37:24,880 --> 00:37:27,719
Speaker 1: on all the tie breaking votes Vice President Harris has

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00:37:27,760 --> 00:37:30,759
Speaker 1: already cast and how the next one could be for

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00:37:30,800 --> 00:37:33,640
Speaker 1: the High Court. Yes, I mean this is the reality

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00:37:33,719 --> 00:37:36,640
Speaker 1: of a Senate is that as the vice president, she

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00:37:36,719 --> 00:37:39,600
Speaker 1: does have to step in and cast that vote. Um.

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00:37:39,600 --> 00:37:42,719
Speaker 1: It kind of also shows why Harris herself could not

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00:37:42,960 --> 00:37:46,719
Speaker 1: be nominated for the Scotus role. And I know that

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00:37:46,840 --> 00:37:48,640
Speaker 1: her name is kind of been tossed around. She's a

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00:37:48,680 --> 00:37:51,520
Speaker 1: black woman, she's an attorney, um. But at this point

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00:37:51,520 --> 00:37:54,640
Speaker 1: she really is needed for this critical vote. And it

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00:37:54,680 --> 00:37:57,960
Speaker 1: also goes to show just how partisan the process of

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00:37:58,000 --> 00:38:00,520
Speaker 1: taking a Supreme Court justice has a UM, I mean,

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00:38:00,640 --> 00:38:03,520
Speaker 1: only a decade or so athough it was possible to

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00:38:03,600 --> 00:38:06,360
Speaker 1: nominate someone to the Supreme Court and to have US

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00:38:06,400 --> 00:38:10,360
Speaker 1: Senators from both parties supported, that's just not expected this time.

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00:38:10,760 --> 00:38:13,400
Speaker 1: Of course, the Biden administration is trying to get some

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00:38:13,440 --> 00:38:17,240
Speaker 1: bipartisan support. On the short list of names are individuals

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00:38:17,320 --> 00:38:21,080
Speaker 1: that many Senators have already voted for for to be

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00:38:21,160 --> 00:38:25,320
Speaker 1: judges in in lower but still fairly high federal courts.

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Speaker 1: All right, let's turn to the call last night between

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Speaker 1: President Biden and Ukrainian President Zelinsky. What do we know

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00:38:32,080 --> 00:38:35,520
Speaker 1: about what was discussed? So we're actually hearing some mixed

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00:38:35,600 --> 00:38:37,799
Speaker 1: messages on that now. The White House said that they

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00:38:37,880 --> 00:38:42,239
Speaker 1: had a long, productive conversation, but it doesn't seem like

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00:38:42,320 --> 00:38:45,239
Speaker 1: they're on like Zilinsky and Biden are on the same

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00:38:45,280 --> 00:38:49,239
Speaker 1: page about exactly how imminent this threat on Russia is.

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00:38:49,840 --> 00:38:52,640
Speaker 1: Biden is saying, and you're hearing this from the White House,

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00:38:52,840 --> 00:38:56,160
Speaker 1: that an attack could happen at any point. But Zelinski

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00:38:56,239 --> 00:39:00,000
Speaker 1: doesn't have that same rhetoric. And one of the reasons

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00:39:00,040 --> 00:39:03,359
Speaker 1: is that if you are the president of Ukraine, it's

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00:39:03,400 --> 00:39:06,160
Speaker 1: not beneficial for you to be promoting the message that

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00:39:06,239 --> 00:39:09,200
Speaker 1: your country can be invaded at any time. We also

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00:39:09,239 --> 00:39:11,000
Speaker 1: know that the two of them did discuss sort of

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00:39:11,000 --> 00:39:15,040
Speaker 1: the economics the potential sanctions other help to Ukraine. There's

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00:39:15,080 --> 00:39:18,880
Speaker 1: definitely concerned within Ukraine and as well as within Europe

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00:39:19,080 --> 00:39:22,720
Speaker 1: that potential sanctions the US is considering non Russia could

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00:39:22,840 --> 00:39:26,120
Speaker 1: impact other countries as well. What's the room for diplomacy

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00:39:26,160 --> 00:39:29,440
Speaker 1: now with the threat from Russia, with these troops amassed

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00:39:29,560 --> 00:39:31,879
Speaker 1: near Ukraine, what are you gonna be looking for heading

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00:39:31,880 --> 00:39:34,960
Speaker 1: into the weekend. Well, Biden is saying that he's going

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00:39:35,000 --> 00:39:38,280
Speaker 1: to be keeping lines of diplomacy open, so that's definitely

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00:39:38,320 --> 00:39:42,080
Speaker 1: something to look for. As well as Congress is coming

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00:39:42,080 --> 00:39:44,600
Speaker 1: back next week, what are they planning in terms of

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00:39:44,719 --> 00:39:47,959
Speaker 1: legislation that could put sanctions on Russia. Is that something

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00:39:48,000 --> 00:39:49,640
Speaker 1: they're going to be able to move on. Is that

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00:39:49,719 --> 00:39:53,480
Speaker 1: something that's getting bipartisan support? Remember, that's critical You've heard

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00:39:53,480 --> 00:39:55,880
Speaker 1: centers on both sides of the aisle say that if

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00:39:55,920 --> 00:39:58,560
Speaker 1: they pass something, they really don't want it to be partisan.

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00:39:58,640 --> 00:40:00,840
Speaker 1: They want to make sure that US is taking a

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00:40:00,920 --> 00:40:04,439
Speaker 1: strong and united stance on this issue. All right, let's

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00:40:04,440 --> 00:40:07,280
Speaker 1: turn to Capitol Hill now, where there's some friction around

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00:40:07,320 --> 00:40:11,239
Speaker 1: the China competitiveness spill in the House. Yeah. So to

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00:40:11,360 --> 00:40:14,120
Speaker 1: be clear, a version of this bill has already passed

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00:40:14,160 --> 00:40:16,800
Speaker 1: the Senate, and the Senate and the House have already

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00:40:16,840 --> 00:40:19,120
Speaker 1: agreed that they're going to come together with the separate

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00:40:19,200 --> 00:40:21,600
Speaker 1: versions of their bills, hash it out, and come out

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00:40:21,640 --> 00:40:24,440
Speaker 1: with something that they can all support. So really, all

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00:40:24,480 --> 00:40:26,600
Speaker 1: the House bill has to do is past the House,

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00:40:26,640 --> 00:40:29,400
Speaker 1: and they don't eve Republicans to do it. That said,

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00:40:29,440 --> 00:40:33,200
Speaker 1: they do want Republicans on board. You've heard Commerce Secretary

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00:40:33,239 --> 00:40:36,239
Speaker 1: Gina Romundo come out and say that Republicans really need

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00:40:36,280 --> 00:40:39,040
Speaker 1: to be supporting this or at least not bashing it.

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00:40:39,360 --> 00:40:41,799
Speaker 1: But Republicans in the House say that this is a

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00:40:41,920 --> 00:40:44,920
Speaker 1: very partisan bill, more partisan than the Senate version, and

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00:40:45,000 --> 00:40:47,560
Speaker 1: they have some concerns about it, and they don't feel

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00:40:47,600 --> 00:40:50,520
Speaker 1: like Democrats really worked with them as much on it. Democrats,

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00:40:50,520 --> 00:40:52,959
Speaker 1: of course, refused that saying that elements of this bill

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00:40:53,120 --> 00:40:56,640
Speaker 1: did pass in a bipartisan manner. I think, for if

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00:40:56,640 --> 00:40:58,200
Speaker 1: you are going to be seen a vote next week,

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00:40:58,239 --> 00:41:00,839
Speaker 1: which we are expecting, you might not see a lot

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00:41:00,880 --> 00:41:04,040
Speaker 1: of House Republicans going along right now, but I would

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00:41:04,080 --> 00:41:06,720
Speaker 1: be paying attention to what comes out of the bill

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00:41:07,120 --> 00:41:10,319
Speaker 1: that the House and Senate conference together. I think that's

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00:41:10,360 --> 00:41:13,120
Speaker 1: going to be the real one where Republicans are going

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00:41:13,160 --> 00:41:15,520
Speaker 1: to be looking to get on board and to say yes,

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00:41:15,719 --> 00:41:20,879
Speaker 1: telling about left here Emily. President Biden's going to Pittsburgh today. Yes,

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00:41:21,160 --> 00:41:27,080
Speaker 1: so we'll be there talking infrastructure, talking about manufacturing UM.

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00:41:27,280 --> 00:41:30,319
Speaker 1: One notable thing though, is who isn't going to be there.

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00:41:30,400 --> 00:41:35,080
Speaker 1: You have several candidates for top offices in Pennsylvania who

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00:41:35,080 --> 00:41:38,080
Speaker 1: are offered to come with Biden and said they had

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00:41:38,120 --> 00:41:42,360
Speaker 1: scheduling conflicts. And you are seeing a couple top candidates

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00:41:42,360 --> 00:41:45,640
Speaker 1: show up, like Senate candidate Rep. Connor Lamb. But it

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00:41:45,719 --> 00:41:48,560
Speaker 1: speaks a little bit to how Democrats might be thinking

767
00:41:48,600 --> 00:41:53,200
Speaker 1: of making appearances with President Biden in this mid term

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00:41:53,280 --> 00:41:56,759
Speaker 1: election year. Biden's poll numbers are not looking good right now.

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00:41:56,960 --> 00:42:00,239
Speaker 1: They've been continuing to go down and go down. Lots

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00:42:00,239 --> 00:42:03,400
Speaker 1: of concerns for his administration, and this could be a

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00:42:03,480 --> 00:42:06,520
Speaker 1: sign it'lled something definitely to watch with within the next year.

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00:42:06,920 --> 00:42:09,919
Speaker 1: How much are Democrats embracing the man at the top

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00:42:10,000 --> 00:42:12,080
Speaker 1: of their party and how much are they trying to

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00:42:12,080 --> 00:42:14,919
Speaker 1: separate themselves from him. Well he's good now, just in time.

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00:42:14,960 --> 00:42:17,920
Speaker 1: There's a winter storm on the way. Bloomberg Government, Semily

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00:42:18,000 --> 00:42:21,719
Speaker 1: Wilkins stay warm this weekend. Thanks for joining us. Read

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00:42:21,760 --> 00:42:23,960
Speaker 1: more about all these stories on Bloomberg dot com or

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00:42:24,000 --> 00:42:27,319
Speaker 1: on the Bloomberg terminal. Listen to Bloomberg Radio in Washington.

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00:42:27,680 --> 00:42:31,479
Speaker 1: Bloomberg one oh five point seven FM, h D two

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00:42:32,000 --> 00:42:34,680
Speaker 1: SMP Future is now down twenty point STOW futures down

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00:42:34,680 --> 00:42:37,760
Speaker 1: a hundred ninety NASTAC futures lower now by a tenth

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00:42:37,760 --> 00:42:41,680
Speaker 1: percent fifteen points. The tenure Treasury down ten thirty seconds,

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00:42:41,719 --> 00:42:44,880
Speaker 1: yield one point eight three percent. Bloomberg Surveillance is up

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Speaker 1: next for Karen Moscow. I'm Nathan Hagar. This is Bloomberg