Speaker 1: Live from the Bloomberg Interacted Brooker Studios. Is Bloomberg day
Speaker 1: Break for Tuesday one coming up this hour. Oil surges
Speaker 1: after EU leaders agree to pursue a partial bed on
Speaker 1: Russian crude. The oil game and hawkish comments from the
Speaker 1: Fed have treasury yields on the rise. At President Biden
Speaker 1: holds a rare beating with FED Chair J Powell at
Speaker 1: the Oval Office. Today, people in Voldi, Texas prepared to
Speaker 1: bury the dead from last week's shootings. Plus the Diocese
Speaker 1: of Brooklyn calls it a brazen crime of disrespect and hate.
Speaker 1: I'm Michael bar More Ahead, I'm trying stas and sports.
Speaker 1: The Rangers beat the Hurricanes in Game seven. They're moving
Speaker 1: on to the East Finals. Easy win for the Mets.
Speaker 1: That's all s Trady Ahead on Bloomberg Daybreak on Bloomberg eleven,
Speaker 1: Free on New York, Bloomberg one, Washington, d C, Bloomberg
Speaker 1: one oh six one, Boston, Bloomberg nine sixties, San Francisco,
Speaker 1: Syrius XM one nineteen and around the world on Bloomberg
Speaker 1: Radio dot Com and via The Bloomberg Business. Good Morning,
Speaker 1: I'm Nathan Hager and I'm Karen Moscow We are coming
Speaker 1: up to five oh one on Wall Street, and we
Speaker 1: check the markets every fifteen minutes throughout the trading day.
Speaker 1: On Bloomberg right now is in p Futures are little change.
Speaker 1: DALN features down forty two and NASDAG features have about
Speaker 1: thirty and the jacks in Germany is down about a
Speaker 1: third of a percent. The ten year treasury is down
Speaker 1: thirty seconds, yield two point eight two percent, and the
Speaker 1: yield on the two year two point five four percent.
Speaker 1: The euro is at one point oh seven to eight
Speaker 1: against the dollar, the yen one twenty seven point nine
Speaker 1: three Bitcoin at thirty one thousand, six hundred dollars. Nathan,
Speaker 1: The Karen oil is on the rise this morning. Watching
Speaker 1: nimex crewde It's up three point three percent to a
Speaker 1: hundred eighteen dollars eighty seven cents of barrel. Brent is
Speaker 1: hired by one and a half percent at a hundred
Speaker 1: twenty three dollars fifty three cents. The gains cob after
Speaker 1: European Union leaders agreed to seek a ban on imports
Speaker 1: of most Russian oil. Let's get the details live from
Speaker 1: bloombergs You and parts joining us from our London bureau
Speaker 1: you and good morning, Good morning Nathan and Karen. Finally
Speaker 1: a deal on Russian oil. European Union leaders agree sanctions
Speaker 1: blocking the purchase of crude oil and petroleum products from
Speaker 1: Russia delivered by sea, but there is a temporary exemption
Speaker 1: for pipeline deliveries to satisfy Hungary, which have been holding
Speaker 1: up discussions. European Commissioned President Vonderline welcome the agreement. Council
Speaker 1: should now be able to finalize a van on almost
Speaker 1: of all Russian oil inputs by the end of the year.
Speaker 1: European Commission President Vondeline made the comments out of briefing
Speaker 1: in Brussels. In London, Ami and part Spoon Bay day break,
Speaker 1: are you and thank you all? Back here in the US,
Speaker 1: the followed from last week's school shooting continues to reverberate
Speaker 1: across the country. There's another push for legislation on guns
Speaker 1: for President Biden says he is limited on what he
Speaker 1: can do. He traveled to Vivaldi, Texas for an emotional
Speaker 1: visitor shul weekend. Any Morris has details from our Bloomberg
Speaker 1: newsroom in Washington. I can't outlaw a weapon, I can't
Speaker 1: change a background check. President Biden, explaining that there is
Speaker 1: only so much he can do to stop mass shootings
Speaker 1: in the US. Biden and First Lady Jill Biden visited
Speaker 1: the Texas elementary school where a gunman killed nineteen children
Speaker 1: and two teachers. That shooting has increased demands on Congress
Speaker 1: to do something about gun regulation, and talks in the
Speaker 1: Senate now center on red flag laws. They allow police
Speaker 1: or family members to ask a court to temporarily remove
Speaker 1: the right to own firearms from someone who may be
Speaker 1: at risk. In Washington, I may be Morris Bloomberg, daybreak,
Speaker 1: All right, Amy, thank you on Wall Street today. Inflation
Speaker 1: continues to be a major focus for markets. Treasury yields
Speaker 1: our climbing as the Federal Reserve shows no sign of
Speaker 1: slowing its hawkish stance. FED Governor Christopher Waller says he
Speaker 1: wants to keep raising interest rates in half percentage point
Speaker 1: steps until inflation is under control, support ten policy by
Speaker 1: another fifty basis points for several meetings. In particular, I
Speaker 1: am not taking fifty basis points basis point heights off
Speaker 1: the table. U shall I see inflation coming down closer
Speaker 1: to FED Governor Christopher Waller spoke at an event hosted
Speaker 1: by the Institute for Monetary and Financial Stability. Well, inflation
Speaker 1: don't be a key topic of discussion when President Biden
Speaker 1: holds a rare meeting today with its share of the
Speaker 1: Federal Reserve, and we get more from Bloomberg's Done Chrisner.
Speaker 1: It'll be the first meeting between the two since November,
Speaker 1: when the President nominated J. Powell for a second four
Speaker 1: year term. In the intervening period, soaring inflation has become
Speaker 1: a crippling problem. In an opinion piece published late Monday
Speaker 1: in The Wall Street Journal, the President said he would
Speaker 1: support the FED in its effort to combat high inflation
Speaker 1: by reducing demand. The President said the fight was likely
Speaker 1: to slow the rate of job growth from a monthly
Speaker 1: pace of five hundred thousand jobs to around a hundred
Speaker 1: fifty thousand in New York. I'm Doug Chrisner, Bloomberg Day Break.
Speaker 1: All right, Doug, thank you. The labor market will also
Speaker 1: be front and center this week when we get the
Speaker 1: May jobs report on Friday. Let's get a preview of
Speaker 1: that from Bloomberg's Vinny del Judaicce economists a payroll growth
Speaker 1: probably exceeded three hundred thousand and May. So far this year,
Speaker 1: the economy has added more than two million jobs, with
Speaker 1: labor shortages at record levels. A slowdown could imply a
Speaker 1: shortage of qualified workers rather than sudden weakness. Job cuts
Speaker 1: have been running it half century lows. Also in this
Speaker 1: week's US data calendar, I s M Factory Data, the
Speaker 1: Conference Sports Consumer Confidence Index, and the Federal Reserves bag
Speaker 1: Book Economic Survey, Benny Dell, Judace bloom Birthday break All right, Vinnie,
Speaker 1: thank you. We're also getting key inflation data out of Europe.
Speaker 1: The numbers crossed just a few minutes ago, showing Eurozone
Speaker 1: inflation accelerated to a fresh all time high. Consumer prices
Speaker 1: jumped eight point one percent from a year earlier in May,
Speaker 1: exceeding the seven point eight percent median estimate in a
Speaker 1: Bloomberg survey. The acceleration was driven by food and energy
Speaker 1: after Russia's invasion of Ukraine sent commodity prices soaring. But
Speaker 1: back here in the US, care and stocks are coming
Speaker 1: their first winning week and nearly a month. As we
Speaker 1: returned to this holiday shortened trading week. We get more
Speaker 1: on the days ahead from Bloomberg's Charlie Pellet. Analysts remain
Speaker 1: split on whether equities have found a bottom amid ongoing
Speaker 1: questions about the strength of corporate earnings. Alicia Levine's head
Speaker 1: of Equities and Capital Markets Advisory at Bank of New York, Melon,
Speaker 1: margins are going to come down. And what the market
Speaker 1: has really been grappling with the last couple of weeks
Speaker 1: is the E on the pe their earnings component. And
Speaker 1: it's likely that earnings have to soften from here. Among
Speaker 1: the names scheduled to report this week, Broadcom, CrowdStrike, Hormel, Foods,
Speaker 1: HP and Ko, Lulu, Lemon, and Salesforce dot Com in
Speaker 1: New York. Charlie Pellet, Bloomberg day Break. All right, Charlie,
Speaker 1: thank you well overseas this morning, Shares a UNI lever
Speaker 1: of more than six percent. Activist investor and Nelson Pellets
Speaker 1: has been appointed as a non executive director on the company,
Speaker 1: and his tri And Fund Management has taken at one
Speaker 1: point five percent. Steak Annal Labor All right. Looking ahead
Speaker 1: of the market open, Karen futures are little changed. Mostly
Speaker 1: SMP futures down eight point, STOUT futures down seventy five.
Speaker 1: Nasdaq futures little change. They're higher by nine points. The
Speaker 1: tenure Treasury yield two point eight two percent. Straight ahead
Speaker 1: your latest local headlines in the check of sports. This
Speaker 1: is Bloomberg at south five oh seven on Wall Street.
Speaker 1: Where's seventy four degrees in Central Park already and already
Speaker 1: dealing with an accident northbound Daku Turnpike on the exit
Speaker 1: thirteen off ramp. We'll get the details for you in
Speaker 1: traffic shortly. First, Michael Bars here with more on what's
Speaker 1: going on in New York and around the world. Good morning, Michael,
Speaker 1: Good morning Nathan. Police say someone busted into the altar
Speaker 1: at a New York City church, stole a two million
Speaker 1: dollar gold relic, and remove the head of a statue
Speaker 1: of an angel. The incident happened between Thursday and Saturday
Speaker 1: at St. Augustine's Roman Catholic Church in Brooklyn Spark Slope neighborhood.
Speaker 1: The church was closed for construction at the time. The
Speaker 1: church's pastors had the camera. Recordings from the security system
Speaker 1: were also stolen. The Diocese of Brooklyn called it a
Speaker 1: brazen crime of disrespect and hate. New York Governor Kathy
Speaker 1: Hokol delivered comments yesterday at the commemoration of the twentieth
Speaker 1: anniversary of the formal end of recovery operations at Ground zero,
Speaker 1: Local referred to those who quote showed up unprompted to
Speaker 1: help the common denominator from most as they were New Yorkers,
Speaker 1: because it's in our DNA. When we get knocked down,
Speaker 1: we fight back and we come back, and we must
Speaker 1: never ever forget that lesson. That is the story of
Speaker 1: this hellowed ground. Governor hocol also says we're going to
Speaker 1: come back after this pandemic because we showed we did
Speaker 1: it twenty years ago. Funerals take place this week for
Speaker 1: the nineteen children and two teachers killed last week in Uvaldi, Texas.
Speaker 1: The town's mayor Don mclockman says the site of the
Speaker 1: shooting rob Elementary School should be torn down. McLoughlin says,
Speaker 1: though people in the community will get through it. That's
Speaker 1: one of the things I love about you about it.
Speaker 1: This community will come together and we will come together
Speaker 1: on this. I mean, this is something that we will
Speaker 1: never get over, but we'll get through it. Mayor McLaughlin
Speaker 1: says he supports the construction of a mental health hospital
Speaker 1: in Uvalde and that would serve dozens of nearby counties
Speaker 1: and possibly prevent future massacres. Canadian Preme Minister Justin Trudeau
Speaker 1: announced an effort to ban handguns. Canada already has an
Speaker 1: assault weapons van and a news conference in Ottawa, Trudeau
Speaker 1: said the legislation would prohibit the purchase, sale, transfer, or
Speaker 1: import of handguns across Canada. We've seen far too many
Speaker 1: tragedies across this country, far too many incidents of gun violence,
Speaker 1: particularly with handguns. You know, streets in our communities, Devastating families,
Speaker 1: devastating communities. Trudeau also announced mandatory buybacks for assault weapons.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quick Take, powered by more than listen analysts
Speaker 1: in more than twenty countries. I'm Michael Bard. This is Bloomberg, Nathan. Okay, Michael,
Speaker 1: Thanks coming up to five ten on Wall Streets. Time
Speaker 1: for the Bloomberg Sports update. Can reach on stash our.
Speaker 1: Good morning, Nathan. It's a good morning to a New
Speaker 1: York Rangers fan. What a postseason they are having. It's
Speaker 1: hardly over, but already five wins now and faced with
Speaker 1: elimination two game seven victories, two Series one, both when
Speaker 1: they never led the series until Game seven, and ROLEI
Speaker 1: last man a Hurricanes penalty and a Ranger lead and
Speaker 1: seconds to go all the Rangers power play. Rangers go
Speaker 1: back in top right side feed up for a year,
Speaker 1: back past the clock, scars out of Fox. It's a
Speaker 1: power play goal. Racheers lead Wonder not playing ro WPN
Speaker 1: Later in the first another power play goal of Chris
Speaker 1: tried to deflection. Crider scored again. In the third. Rangers
Speaker 1: beat the Hurricane six to two. Carolina had been seven
Speaker 1: and oh at home in the postseason. Rangers now coming
Speaker 1: home game one of the East Final with two time
Speaker 1: to find in Stanley Cup champion Tampa Bay tomorrow at
Speaker 1: the Garden City Field. Washington scored three runs first, seating
Speaker 1: the met score the next twelve. All twelve scored over
Speaker 1: the first four at ains Mets beat and that's thirteen
Speaker 1: to five, Starling Marte, Nick Plumber, both of home runs.
Speaker 1: Four RBI Detroit Tigers called up infielder Cody Clemens Rogers
Speaker 1: Sun expected to make his major league debut tonight. A
Speaker 1: couple of fourth round upsets the French Open the second
Speaker 1: and fourth scenes were ousted Danial Medvedev eaten by Marian
Speaker 1: Schilich straight sets, and Medvedev as it now not allowed
Speaker 1: to play Wimbledon, who has banned all Russians. Stefinal sits
Speaker 1: Aposs also lost big match today quarterfinals, Rafael and the
Speaker 1: dal Versus Novak Djokovic, John Stashward Bloomberg Sports, All right, John,
Speaker 1: thank you. Futures churning lower at the moment right now,
Speaker 1: S and P futures are down thirteen points, Staff futures
Speaker 1: down a hundred twelve, Nastact futures twelve points ten. Your
Speaker 1: treasury yield almost two point eight three percent. Lori Calvicina
Speaker 1: had a US equity r VC joins US. Next. This
Speaker 1: is Bloomberg Bloomberg day Break, brought to you by Pepack
Speaker 1: Private Wealth Management. Pepack Private Wealth Management knows that a
Speaker 1: portfolio is more than a collection of assets. It's a
Speaker 1: path to your future. Visit Pepack Private dot Com and
Speaker 1: begin your financial legacy Today. Markets, headlines and breaking news
Speaker 1: twenty four hours a day at Bloomberg dot Com, The
Speaker 1: Bloomberg Business At and at Bloomberg Quick Take, He's a
Speaker 1: Bloombern Business lash and I'm caered. Moscow stocks are slipping,
Speaker 1: Treasury is selling off across the curve as oil jump
Speaker 1: setting to worries about how aggressive central banks will need
Speaker 1: to be to rein and inflation without derailing growth. If
Speaker 1: we check the markets every fifteen minutes throughout the trading
Speaker 1: day on Bloomberg right now, U S and P futures
Speaker 1: are down fifteen points, dowal futures down a hundred fifteen
Speaker 1: Nastack futures down twenty three the dacks and remany is
Speaker 1: down half percent. To tend your treasury down twenty four
Speaker 1: thirty seconds held two point two percent. The yield on
Speaker 1: the two year two point five four percent nine max
Speaker 1: screwed oil is up three at a quarter percent, up
Speaker 1: three dollars seventy three cents at a hundred eighteen dollars
Speaker 1: eighty one cents of barrel comex s Gold is down
Speaker 1: a tenth of a percent on a dollar eighty at
Speaker 1: eighteen fifty five fifty announced. The euro one point oh
Speaker 1: seven three three against the dollar, British pound one point
Speaker 1: two six one four and again one seven point nine five.
Speaker 1: Bitcoin this morning higher up nine ten percent at thirty
Speaker 1: one thousand, five forty dollars. That's a Bloomberg business flash.
Speaker 1: Now here's Michael Barrow with more on what's going on
Speaker 1: around the World, Muchael, Good morning, Good morning Karen. Today
Speaker 1: will mark one week when nineteen children and two teachers
Speaker 1: were gunned down at a Robb Elementary school in Uvaldi, Texas.
Speaker 1: The first of one final farewells now beginning in Uvaldi.
Speaker 1: The w h o's top monkey box expert is skeptical
Speaker 1: the virus will become a global pandemic. W h OS
Speaker 1: Dr Rosemund Lewis says anyone can be at potential risk.
Speaker 1: However that is that they're not exactly sure how it's
Speaker 1: been spreading. In the NHL Playoffs, the Rangers are headed
Speaker 1: to the Eastern Finals after beating the Hurricanes in Game seven,
Speaker 1: six two. In baseball, the Mets to beat the Nationals
Speaker 1: thirteen five. The Orioles beat the Red Sox ten zip.
Speaker 1: The Giants won the A's lost. Global news twenty four
Speaker 1: hours a day on here and on Bloomberg Quicktech, powered
Speaker 1: by more than hundred journalists analysts more than a hundred
Speaker 1: twenty countries. Michael barn This is Bloomberg. Nathan, Okay, Michael. Thanks,
Speaker 1: It's five nineteen on Wall Street Live from the Bloomberg
Speaker 1: Interactive Brokers Studios. This is Bloomberg Daybreak. As we get
Speaker 1: ready to kick off a holiday short and trading week
Speaker 1: and a brand new month. We're very pleased to be
Speaker 1: joined this morning by Lori Calvasin ahead of US Equity
Speaker 1: Strategy at RBC Capital Markets. Lori, welcome back. Good to
Speaker 1: have you back with us as we start off this
Speaker 1: week with law US is for futures at the moment.
Speaker 1: What does that tell you about last week's rally coming
Speaker 1: after all those weeks of losses. Hi, well, thanks for
Speaker 1: having me. As always, look, I'm not reading too much
Speaker 1: into the futures action this morning, it does look like
Speaker 1: the nasdack is on futures are actually up a little bit,
Speaker 1: even though the SMP is down. And I do think
Speaker 1: the important thing is the rally that we saw last
Speaker 1: week being so strong and so decisive. You know, we
Speaker 1: had been talking about the drawdown that we've been seeing
Speaker 1: since January as when within the framework of a growth scare,
Speaker 1: and we've seen a number of those since the financial crisis,
Speaker 1: which have total fourteen UM and we had told people
Speaker 1: if we sort of broke out of that growth scare range,
Speaker 1: the market would be telling us it was anticipating a
Speaker 1: recession while it held it right at about eighteen point
Speaker 1: seven percent to the downside before rebounding. So I think
Speaker 1: you know that that price action we got last week
Speaker 1: was extraordinarily important and really told us that the market
Speaker 1: is not ready to price in a recession yet. Well,
Speaker 1: we did get a note this morning from Mike Wilson
Speaker 1: over Morgan Stanley. Obviously he's pretty bearish generally, but his
Speaker 1: argument is that the relief rally has limited scope with
Speaker 1: risks to growth still out there. Is he wrong? So
Speaker 1: our economists don't think that we're necessarily going to have
Speaker 1: a recession. They've lowered their GDP forecast down to trend
Speaker 1: like numbers, and if you look across the street, I
Speaker 1: would say, you know that the forecast that you just
Speaker 1: mentioned is an outlier. I think that the people who
Speaker 1: are calling for recession, who are calling for more dire times,
Speaker 1: they're getting a pretty disproportionate share um of you know,
Speaker 1: sort of the mind share out there right now, and
Speaker 1: the voices are pretty loud. But if you actually look
Speaker 1: at the Bloomberg Survey in terms of where consensus expectations
Speaker 1: are for this year, I think the last number I
Speaker 1: think I checked this on Friday was about two point
Speaker 1: seven percent GDP for this year and about one point
Speaker 1: nine percent for next year. So what we're seeing generally, uh,
Speaker 1: the economics community amound around the street is calling for
Speaker 1: a return to trend like growth and hasn't made that
Speaker 1: recession call, and that is what stocks are pivoting on
Speaker 1: as opposed to anyone voice out there. Do you think
Speaker 1: that growth is going to be driven by whatever the
Speaker 1: Fed does in terms of interest rate hikes going forward? Here?
Speaker 1: I mean, we just heard from Governor Waller saying he's
Speaker 1: at least in favor of keeping half percentage point increases
Speaker 1: going until inflation gets to target. I think one of
Speaker 1: the things that really powered stocks last week was a
Speaker 1: shift in tone from the FED and really just this
Speaker 1: idea that they will be flexible later on in the
Speaker 1: year and that that was one of the reasons why
Speaker 1: they wanted to bring the sort of these big chunky
Speaker 1: hikes forward so far early into this year, and I
Speaker 1: think the market really took some reassurance off of that.
Speaker 1: One of the things that we've seen from talking to
Speaker 1: investors and talk and looking at our survey work, frankly,
Speaker 1: is that there has been a real those who have
Speaker 1: been afraid that the FED was going to choke off growth,
Speaker 1: have outnumbered those who felt like they weren't going to
Speaker 1: do a good job of fighting inflation. And so I
Speaker 1: think what we got last week where a couple of
Speaker 1: comments that said that the FED does continue to care
Speaker 1: about growth. And I think at the end of the day,
Speaker 1: this labor market is so incredibly tight and so incredibly strong,
Speaker 1: you know, I think it's very difficult to see how
Speaker 1: a recession emerges in the context of all that, and
Speaker 1: I think that's something that markets are continuing to digest
Speaker 1: as well. It's just the strength of that labor backdrop.
Speaker 1: So where do you see the momentum for markets as
Speaker 1: we get ready to head into the month of June. Here,
Speaker 1: what's the trajectory for you? So look, we never try
Speaker 1: to make any calls, you know, just sort of on
Speaker 1: a one one month basis, on a very short term basis,
Speaker 1: but we do think that this market is in the
Speaker 1: process of pivoting back towards the growth trade and really
Speaker 1: looking for areas that will do well in a slow
Speaker 1: and growth environment, which traditionally ends up being growth stocks. Um,
Speaker 1: I do think you need tenure yields to cooperate before
Speaker 1: you can really see um that that shift are really
Speaker 1: cement um. But we do think that in particular is
Speaker 1: a defensive trade. If you look at things like stable
Speaker 1: healthcare utilities, that's defensive. Bucket of the market is as
Speaker 1: expensive as we tend to see it get relative to
Speaker 1: secular oh theories like consumer discretionary communication services or technology,
Speaker 1: and so I think at a minimum, I think the
Speaker 1: market is sort of exhausting this fascination with defensive sectors,
Speaker 1: and I think you can look for a pivot away
Speaker 1: from those as always great to get your thoughts, Lorie,
Speaker 1: thanks again for being with us. Lori Calvacina as head
Speaker 1: of US Equity Strategy at RBC Capital Markets. Looking at
Speaker 1: the futures ahead of the final open the month of May,
Speaker 1: futures are moving a touch lower right now. S and
Speaker 1: P futures are down eighteen points, STAFF futures down a
Speaker 1: hundred thirty five, Nasdaq futures down thirty points. UH. The
Speaker 1: tenure Treasury is down twenty three thirty seconds now with
Speaker 1: the yield two point two percent yield on the two
Speaker 1: year two point five four NIMEX crude continues its surge,
Speaker 1: up three point two per cent or three dollar sixty
Speaker 1: five cents at a hundred eighteen dollar seventy two cents
Speaker 1: a barrel. Onward from the European Union that an agreement
Speaker 1: has been reached for a partial ban on Russian oil.
Speaker 1: More to come, stay with us your list day to
Speaker 1: Bloomberg day Break, Good morning, Bloomberg eleven three oh weather
Speaker 1: hot today, low nineties, will be in the low seventies
Speaker 1: again tomorrow with a chance for a shower. Showers of
Speaker 1: thundershowers possible late Thursday with a high near eighty degrees.
Speaker 1: Right now seventy four broadcasting live from the Bloomberg Interactive
Speaker 1: Broker Studio in New York, Bloomberg Living Free on to Washington,
Speaker 1: d C. Bloomberg to Boston, Bloomberg one O six one,
Speaker 1: to San Francisco, Bloomberg nun sixteen to the Country, Sirius
Speaker 1: XM Chado one nineteen and around the globe the Bloomberg
Speaker 1: Business app and Bloomberg Radio dot Com. This is Bloomberg Daybreak.
Speaker 1: It's five thirty on Wall Street. Good morning. I'm Nathan
Speaker 1: Hager and I'm kerin mos Galley. Are just about four
Speaker 1: hours away from the open of US training. Let's get
Speaker 1: you up to date on the news. You need to
Speaker 1: know at this show, where we begin with oil, which
Speaker 1: is on the rise this morning, it is up three
Speaker 1: point two percent. The game comes after European Union leaders
Speaker 1: agreed to seek a ban on imports of most Russian oil.
Speaker 1: Bloombergus Maria Today OH has the latest from Brussels. When
Speaker 1: you look at the actual content, the Europeans say that
Speaker 1: on the best case scenario, if this deal is fully
Speaker 1: applied by the end of the year, of Russian oil
Speaker 1: exports coming into the European Union will essentially be shut off.
Speaker 1: Bloombergrus Maria Today O says EU leaders offered Hungary a
Speaker 1: guarantee that it will receive replacement supplies if pipelines were disrupted.
Speaker 1: Hungary have been blocking an embargo and will continue receiving
Speaker 1: Russian oil via pipeline. In response to that jump in oil,
Speaker 1: Karen stocks in Asia fluctuated and treasury sold off across
Speaker 1: the curve here in the US, Federal Reserve Governor Christopher
Speaker 1: Waller says he wants to keep raising interest rates and
Speaker 1: half percentage points steps until inflation is under control. He
Speaker 1: also believes reducing the balance sheet could curb inflation. Estimates
Speaker 1: are highly as certain using a variety of mobs and assumptions.
Speaker 1: The overall reduction in the balance sheet is estimated to
Speaker 1: be equivalent to a couple of point by based points
Speaker 1: federales are. Governor Christopher Waller caution those estimates were uncertain.
Speaker 1: He's spoken an event hosted by the Institute for Monetary
Speaker 1: and Financial Stability Well this morning, Karen. Eurozone inflation accelerated
Speaker 1: to a fresh all time high. Consumer prices jumped eight
Speaker 1: point one percent from a year earlier in May that
Speaker 1: exceeded this seven point eight percent media estimate in a
Speaker 1: Bloomberg survey. Well inflation will be a key topic of
Speaker 1: discussion when President Biden holds a rare meeting today with
Speaker 1: the share of the Federal Reserve. Fresh off a visit
Speaker 1: to Yvaldi, Texas, where a gunman killed nineteen children and
Speaker 1: two teachers last week, the President said there are limits
Speaker 1: what he can do when it comes to gun regulation.
Speaker 1: I can outlaw or wherever I could you know, changed
Speaker 1: the back Dutch. I can do that. President Biden made
Speaker 1: the comments over a Memorial Day weekend as he renewed
Speaker 1: calls for Congress to crackdown on gun violence. Man turning
Speaker 1: to markets, Karen. Wall Street snapped a seven week losing
Speaker 1: streak last week, but Morgan Stanley Chief investment Officer Michael
Speaker 1: Wilson says the relief maybe short lived. Wilson wrote in
Speaker 1: a recent note that the last week will prove to
Speaker 1: be another bear market rally, and he believes with growth slowing,
Speaker 1: earnings estimates are too high. Alright, Nathan, Future is lower
Speaker 1: this morning with SMP Future is down sixteen points down,
Speaker 1: Futures down a hundred twenty two, and nousday Futures down
Speaker 1: on eleven. Trying to head your latest local headlines plus
Speaker 1: a check of sports. This is Bloomberg Party. Karen. Thanks,
Speaker 1: It's five thirty three on Wall Street where seventy four
Speaker 1: degrees in Central Park is still dealing with an accident
Speaker 1: of the North Parknetica Turnpike. The exit thirteen off ramp
Speaker 1: is closed. Were coming up in traffic First Michael Barr
Speaker 1: with more on what's going on in New York and
Speaker 1: around the world. Michael, thank you very much, Nathan. A
Speaker 1: brazen theft desecrated a New York City church. An irreplaceable
Speaker 1: part of an altar was stolen from a Brooklyn church.
Speaker 1: Police say someone broke into St. Augustine's Roman Catholic Church
Speaker 1: and apparently used a power assaul to steal the eighteen
Speaker 1: carrot gold tabernacle. Marble angel statues flanking the tabernacle were
Speaker 1: decapitated and destroyed. Recordings from the church's security system were stolen.
Speaker 1: The Diocese of Brooklyn called it a brazen crime of
Speaker 1: disrespect and hate. The residents of Vivaldi Taxes will bury
Speaker 1: their dead this week. Last week, a gunman killed nineteen
Speaker 1: children and two teachers, victims of a shooting rampage at
Speaker 1: the Broad Elementary School. Unimaginable grief is gripping the small town.
Speaker 1: The town's mayor, Don McLaughlin says the school building should
Speaker 1: be raised. It needs to be torn down. I would
Speaker 1: never ask expect a child had to ever walk in
Speaker 1: those doors, ever and ever again. The building needs to
Speaker 1: be gone. Mayor McLaughlin says though the community is strong
Speaker 1: and they will get through it. Canadian Prime Minister Justin
Speaker 1: Trudeau announced an effort to ban handguns across the country.
Speaker 1: The legislation have passed prohibits the purchase, sale, transfer, and
Speaker 1: import of handguns and all provinces. Canada already has an
Speaker 1: assault weapons ban. Speaking in Ottawa. Trudeau also announce mandatory
Speaker 1: buy backs for assault weapons. In the situations where someone
Speaker 1: chooses to keep that weapon, it needs to be permanently
Speaker 1: and irrevocably disabled by the government or by experts to
Speaker 1: make sure that it could never again be used as
Speaker 1: a fire. Prime Minister Trudeau says those involved in domestic
Speaker 1: violence or stalking would lose their guns. It's now Tropical
Speaker 1: storm uh Hurricane Agatha made landfall in Mexico and what's
Speaker 1: expected to be the strongest May storm to hit the
Speaker 1: Eastern Pacific. On the record, Agatha was already raking the
Speaker 1: Pacific coastline with damaging gusts and heavy rain. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg
Speaker 1: Quick Take, powered by more than twenty seven journalists and
Speaker 1: antoly smre than countries. I'm Michael Barr. This is Bloomberg, Nathan, Michael.
Speaker 1: Thank you on All Street time for the Bloomberg Sports
Speaker 1: Update with John Stas Show. Thanks Nathan. The Rangers have
Speaker 1: certainly not made things easy on themselves. Around one of
Speaker 1: Pittsburgh down three games the one they won three in
Speaker 1: the row, including games seven and overtime Round two with
Speaker 1: Carolina down two games than none and then three two,
Speaker 1: but another game seven win, and this one was easier.
Speaker 1: Adam Fox score of power play goal and later in
Speaker 1: the first another man advantage. It's up sports outside the
Speaker 1: five again flashbad Frocks car Chris Kreider on a defliction
Speaker 1: on the Meets abantage head shot pass Chris Kreider. It's
Speaker 1: top power play goal and the EPN Crider would score again.
Speaker 1: Ryan Stone, Philipedo, Andrew cop All scores advantage that had
Speaker 1: three assists, Igor Sisterkin rock solid again and goal and
Speaker 1: the Rangers beat the Hurricanes six to two and they
Speaker 1: will play Tampa Bay in the East Final game one
Speaker 1: tomorrow at Big Garden. The Mets in their history have
Speaker 1: never had this bigger division lead. In the month of May.
Speaker 1: They meet the Nationals in City Field thirteen to five.
Speaker 1: Peter Alonzo Homard so that's Starling Marte and Nick Plumber,
Speaker 1: the hero on Sunday drove in four more. The Mets
Speaker 1: are ahead by nine and a half games in the
Speaker 1: n L. E Yankee said that first day off in
Speaker 1: three weeks, they'll host the x Met Noah Syndergarden, the
Speaker 1: Angels Tonight Stadium French Open fourth round to deal medved
Speaker 1: Evans to final sepast The two and four seeds both lost.
Speaker 1: American Jeff Pelucas in the women's quarter finals marquee match
Speaker 1: today as Raphael the Dalvers is no bank joker, John
Speaker 1: station Ella Bloomberg sports Net Big one, Thank you John,
Speaker 1: five thirty seven on Wall Street Time for the Tri
Speaker 1: State Business Report. Here's Bloomberg's Lisa Matteo. Ridership in the
Speaker 1: New York City subways fell last week. New York City's
Speaker 1: MTA says twelve point four million people entered the subway.
Speaker 1: That's down one eight percent from the previous week. While
Speaker 1: ridership is almost ten percent higher than the average for
Speaker 1: the past year, it's still down fifty seven sent from
Speaker 1: two thousand nineteen before COVID hit. New York Governor Kathy
Speaker 1: Hokele is widening our lead in donations. The New York
Speaker 1: Times is reporting HOCO pulled in more than ten million
Speaker 1: dollars from mid January to late May. The paper says
Speaker 1: that outpaces Democratic competitor Representative Thomas Swazi by about a
Speaker 1: three to one margin. The Time says HOCAL received millions
Speaker 1: from lobbyists, wealthy New Yorkers and special interest groups, and
Speaker 1: Consumer Reports is coming to Manhattan. The New York Post
Speaker 1: is reporting the Product and Services testing company has signed
Speaker 1: a two year least at the Durst Organization's six hundred
Speaker 1: seventy five third Avenue. The paper says it will be
Speaker 1: the first time Consumer Reports has ever held in Manhattan office.
Speaker 1: That's your Bloomberg Try State Business Report. I'm Lisa Mateo. Alright, Lisa,
Speaker 1: thank you. It's five thirty eight on Wall Street. Bloomberg
Speaker 1: Radio is on the air from San Francisco to New York,
Speaker 1: London to Hong Kong. Let's check in with our global
Speaker 1: news team for some of the top stories heard on
Speaker 1: our three hundred affiliate radio stations around the world, Like
Speaker 1: Steve Koda Scott kN X in Los Angeles. We're talking
Speaker 1: about shipping operators trying to add millions of new containers
Speaker 1: as they try to solve supply James Norrell um Bernita
Speaker 1: Naho on w h A F and Louisville, Toyota's output
Speaker 1: took a hit last month on mounting supply chain issues.
Speaker 1: I'm carrying that called blue bag d a B dish
Speaker 1: they do in London. We've been speaking to the chairman
Speaker 1: of the energy firm Utilitor, who says that half of
Speaker 1: the company's customers are having difficulty pay for electricity and
Speaker 1: not many are cutting back on their energy use. Alisa
Speaker 1: Matteo and on KYW in Philadelphia, I'll be reporting on
Speaker 1: inflation hitting your car insurance bill sooner than you think.
Speaker 1: I'm Gina Servetti and for w B b M in Chicago,
Speaker 1: I'm reporting that Norwegian Air Shuttle has reached a deal
Speaker 1: with Boeing on an order for fifty seven thirty seven
Speaker 1: Max jets. Okay, those are some of the stories. Are
Speaker 1: twenty seven hundred Bloomberg journalists and analysts are working on
Speaker 1: this morning around the world. It's five thirty nine on
Speaker 1: Wall Street. The following is an editorial from Bloomberg Opinion.
Speaker 1: The White House deserves credit for getting at least thirteen
Speaker 1: other countries, including trade skeptic India, to join and launching
Speaker 1: the Indo Pacific Economic Framework this month. Members of the
Speaker 1: pact represent more than two point five billion people and
Speaker 1: roughly of global GDP. But the deal is hardly a
Speaker 1: rethink of what trade policy can be in the twenty
Speaker 1: one century. As US Trade Representative Katherine Tie put it,
Speaker 1: it would be wiser to view it more modestly as
Speaker 1: a small step forward for an administration that has so
Speaker 1: far all but ignored free trade. Ideally, it will be
Speaker 1: a prelude to the US joining the Comprehensive and Progressive
Speaker 1: Agreement for Transpacific Partnership or cp TPP. If nothing else,
Speaker 1: the new framework is a sign that the administration recognizes
Speaker 1: the importance of trade in the region. But it's just
Speaker 1: a beginning. This editorial was written by the Bloomberg Opinion
Speaker 1: editorial Board. I'm David Chipley. For more Bloomberg opinion, please
Speaker 1: go to Bloomberg dot com, slash opinion, or opiang on
Speaker 1: the Bloomberg terminal. These has been Bloomberg Opinion. Then you
Speaker 1: can hear Bloomberg opinion editorials every weekday. At this time,
Speaker 1: terminal customers can read more at O, P I, n GO.
Speaker 1: Futures are adding to their losses right now. We have
Speaker 1: SMP futures down twenty nine point, staff futures down two
Speaker 1: to thirty two, NASTACK futures lower by fifty points. Tend
Speaker 1: your treasury yield two point eight one per cent. This
Speaker 1: is Bloomberg Bloomberg eleven three oh weather one more hot
Speaker 1: one today with a higher ninety five degrees, will be
Speaker 1: back in the low seventies tomorrow, with a chance for
Speaker 1: a shower because some late day thundershowers Thursday with a
Speaker 1: high near eighty right now seventy four degrees in central
Speaker 1: Park markets. Headlines and breaking news twenty four hours a
Speaker 1: day at Bloomberg dot Com, fort the Bloomberg Business apt
Speaker 1: and at Bloomberg Quick Tape, He's a Bloombern Business Flash
Speaker 1: and I'm Karen Moscow. Stocks are slippering, Treasuries selling off
Speaker 1: across the curve today as zeros on inflation accelerates to
Speaker 1: a fresh altar time high, intensifying the debate at the
Speaker 1: European Central Bank about how rapidly to raise interest rates.
Speaker 1: To check markets every fifteen minutes throughout the trading day
Speaker 1: on bloomberg SMP future is down twenty five points this morning, down,
Speaker 1: futures down a hundred ninety eight nasdack features down thirty
Speaker 1: the decks in Germany's down three quarters of a percent.
Speaker 1: Ten year treasury down twenty two thirty seconds yield two
Speaker 1: point eight one percent. They yield on the two year
Speaker 1: two point five three percent. Non max Scrude oil is
Speaker 1: U three and a third percent of three dollars eighty
Speaker 1: one cents at a hundred eighteen dollars eighty seven cents
Speaker 1: of barrel comes goal down three tens per cent or
Speaker 1: five dollars fifty cents at eighteen fifty one eighty announced
Speaker 1: the euro one point oh seven three eight against the dollar,
Speaker 1: British found one point six one seven again one twenty
Speaker 1: seven point eight seven and checking bitcoin this morning it
Speaker 1: is higher, up eight ten percent at thirty one thousand,
Speaker 1: five hundred dollars. And that's a Bloomberg business flash. Now
Speaker 1: here's Michael Barr with more on what's going on around
Speaker 1: the world. Michael Karen, thank you very much. The first
Speaker 1: of funerals begins this week in Uvaldi, Texas. Zack's officials say,
Speaker 1: you Voldies schools. Police Chief Pete Aredondo wrongly believe that
Speaker 1: they were dealing with a barricaded subject, not an active shooter.
Speaker 1: Valdis mayor announced Erandondo's scheduled city council swearing in some
Speaker 1: ceremony is canceled for now as the city grieves amid
Speaker 1: the ongoing invasion of Ukraine. European Union leaders have agreed
Speaker 1: to be of Russian oil imports by the end of
Speaker 1: the year. In the NHL Playoffs, the Rangers are heading
Speaker 1: to the Eastern Finals after beating the Hurricanes in Game seven,
Speaker 1: six two. In baseball, the Mets beat the Nationals thirteen five.
Speaker 1: The Orioles beat the Red Sox ten zip. The Giants
Speaker 1: won in the A's Lost. Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quick Take, powered
Speaker 1: by more than twenty seven under journalists and analysts more
Speaker 1: than twenty countries. Michael bar this is Bloomberg missing the
Speaker 1: close games? Are you? Michael? All right? Thank you. It's
Speaker 1: five forty nine on Wall Street Life from the Bloomberg
Speaker 1: in Tractive Broker Studios. This is Bloomberg day Break. Let's
Speaker 1: turn out to what's happening in Washington. Congress is out,
Speaker 1: but the White House is not. And guns and inflation
Speaker 1: are going to be front and center today for President Biden.
Speaker 1: Is he confronts potentially his limitations on both those issues.
Speaker 1: Joe Matthew is with us from Washington this morning, our
Speaker 1: Washington correspondent, host of Sound on Here on Bloomberg Radio. Joe,
Speaker 1: good morning. I can't help but think of the old, dirty,
Speaker 1: hairy line. Man's got to know his limitations, and it
Speaker 1: seems like that's what President Biden at least is admitting
Speaker 1: that he's dealing with is, particularly when it comes to
Speaker 1: the issue of gun legislation. You know, maybe if he
Speaker 1: squinted his eyes and talked like that as Ruber Williams
Speaker 1: might go up a little bit. But you're right, Look,
Speaker 1: Joe Biden doesn't have a lot of options right now.
Speaker 1: He needs to work with Congress to make any real
Speaker 1: changes to gun laws. You might remember he did sign
Speaker 1: an executive order a few weeks ago, and at the time,
Speaker 1: this is before Buffalo, before Valdi, people said, what's going on,
Speaker 1: why is he even doing this? But it was to
Speaker 1: regulate so called ghost guns, which in retrospect looks like
Speaker 1: it was pretty well time. But as the President said
Speaker 1: himself over the weekend, he doesn't have the power to
Speaker 1: outlaw a weapon. He doesn't have the power to change
Speaker 1: rules for background checks. So there's not a lot that
Speaker 1: he can do other than wait. Talks are underway kind
Speaker 1: of behind the scenes. Lawmakers are not in town right now,
Speaker 1: uh Nathan, but they've been on the phone, they've been
Speaker 1: on zoom, uh Led by Democrat Chris Murphy Senator Murphy
Speaker 1: along with Republican John Corny in the Senate, But it
Speaker 1: sees from Texas, it's unclear what these might lead to.
Speaker 1: They appear to be focusing on possible red flag laws
Speaker 1: or a red flag law that could have national implications.
Speaker 1: Some states have done this on their own already that
Speaker 1: would allow authorities basically to take guns away from people
Speaker 1: who are deemed a danger to themselves. John Cornyn said,
Speaker 1: by the way, that's no panacea, and creating the language
Speaker 1: for that could give Second Amendment absolutists a lot of
Speaker 1: concern here, But there's a short window. Nathan Chuck Schumer says,
Speaker 1: if there's no compromise by the time lawmakers come back
Speaker 1: to Washington, he's moving forward with a Democrat bill on
Speaker 1: gun control that would not pass. But once again, and
Speaker 1: you and I have seen this a few times over
Speaker 1: the last year, it's Schumer's opportunity to call everyone to
Speaker 1: the carpet, everyone votes up or down, and then you
Speaker 1: know your views will be public on this for the
Speaker 1: mid terms, and that kind of puts people on the record,
Speaker 1: but it doesn't do much when it comes for when
Speaker 1: it comes to momentum to actually get something past, does it?
Speaker 1: I mean, what is the momentum to actually try to
Speaker 1: get action on gun legislation? Like I Like I mentioned there,
Speaker 1: there does seem to be a possible common ground here
Speaker 1: when it comes to red flag laws. Mitch McConnell signed
Speaker 1: off on these talks. He gave John corn In the
Speaker 1: green light to sit down with Chris Murphy. We know
Speaker 1: there are a lot different combinations of lawmakers who are
Speaker 1: talking here. The leadership basically, Nathan took their hands off
Speaker 1: the reins and said, look, I'm gonna give you guys
Speaker 1: two weeks and in the White Houses standing by for
Speaker 1: this as Schumer and McConnell watched their respective lawmakers in
Speaker 1: this case, Cornin and Murphy try to hammer something out.
Speaker 1: I'm not sure there's a lot of optimism. I couldn't
Speaker 1: possibly put a very positive spin on this, Nathan. But
Speaker 1: we're gonna watch the clock tick for a minute. If
Speaker 1: nothing happens here, you'll see Democrats move forward. And again
Speaker 1: that's gonna be to your point, putting people on the record,
Speaker 1: not necessarily making new laws. Yeah, and I know you're
Speaker 1: gonna be watching closely when the President invites fed Chair
Speaker 1: j Powell to the Oval Office, rare sit down as
Speaker 1: inflation continues to be a major issue for this president. Yeah,
Speaker 1: we clearly know what they're going to be discussing, right,
Speaker 1: not not everyone, though Nathan is as plugged into the
Speaker 1: financial markets as the Bloomberg audience that I think you've
Speaker 1: got a mainstream news audience. Uh. In in the target here.
Speaker 1: Uh And look no further than the front page of
Speaker 1: the Washington Post today. US policymakers misjudged inflation threat. That's
Speaker 1: the story that they're trying to get around here. Their
Speaker 1: first meeting between Powell and and Biden since they sat
Speaker 1: down together in November to talk about Powell's renomination. Uh.
Speaker 1: And the White House likes to remind us that the
Speaker 1: Fed is independent. That's why we don't see a lot
Speaker 1: of meetings in the Oval. You don't see the president
Speaker 1: tweeting ideas on monetary policy like the former president here.
Speaker 1: But clearly this president wants to talk about inflation, wants
Speaker 1: to be caught in the act. There'll be a pool spray,
Speaker 1: as they call it. Reporters will be allowed into the
Speaker 1: Oval for a couple of moments. Take some pictures. You'll
Speaker 1: see the three of them on the couches. A couple
Speaker 1: of questions will be shouted. I would look for reporters
Speaker 1: today to be shouting questions about whether inflation has peaked.
Speaker 1: This again mainstream headlines. This is not about fifty versus
Speaker 1: seventy five basis points likely today, Nathan. This is speaking
Speaker 1: to people who don't normally obsess over this kind of stuff. Yeah,
Speaker 1: and it'll be interesting as well to see the President
Speaker 1: sitting down face to face. Yeah, Man Powell, given that
Speaker 1: he said that you know, when it comes to dealing
Speaker 1: with inflation, that it's pretty much in the fence court.
Speaker 1: So we know you'll be watching that very closely. Joe
Speaker 1: Biden Our, Joe Matthew the Sound Dot, no promotions for you,
Speaker 1: Joe host of Sound Dot here on Bloomberg Radio. And
Speaker 1: we'll be checking back with Joe in the next hour
Speaker 1: here on Bloomberg Daybreak. Karen, all right, Nathan, thank you.
Speaker 1: It is five fifty four on Wall Street. Not to
Speaker 1: a legal story we're watching this morning. The U. S.
Speaker 1: Supreme Court broke with a long line of cases in
Speaker 1: favor of employers and arbitration cases, striking down a ruling
Speaker 1: in favor of a taco Bell franchise and a fast
Speaker 1: food workers overtime case. The Court held unanimously that a
Speaker 1: federal appeals court overstepped its authority and creating a rule
Speaker 1: that required the worker to show prejudice or harm to
Speaker 1: get out of arbitration. For more Bloomberg's Doom Grosso space
Speaker 1: to Richard Silberberg, a partner with Dorsey and Whitney, is
Speaker 1: it surprising that this was a unanimous decision because the
Speaker 1: Court is often divided in arbitration cases. I don't think
Speaker 1: it was surprising because I actually think the ruling is
Speaker 1: fairly narrow. What the Court held in an opinion that
Speaker 1: was written by Justice Kagan is that there is no
Speaker 1: requirement to show harm in order to establish that a
Speaker 1: party waved a contractual right to arbitrary But it is
Speaker 1: not that surprising because what the lower federal courts had
Speaker 1: been doing was creating a special rule of contract interpretation
Speaker 1: that only applied to arbitration. And what the Court's pointed
Speaker 1: out is that the lower federal courts generally had misapplied
Speaker 1: prior Supreme Court president. So what the Supreme Court did
Speaker 1: in this case is it reminded the lower federal courts
Speaker 1: that when it said there was a strong federal policy
Speaker 1: favoring arbitration, it did not mean that the lower federal
Speaker 1: court should adopt and this is Justice Kagan's language arbitration
Speaker 1: preferring procedural rule. In other words, the fact that there's
Speaker 1: a strong federal policy favoring arbitration does not mean that
Speaker 1: the court should adopt rules that favor arbitration litigation. To
Speaker 1: put it in Layman's terms, where the circuit courts basically
Speaker 1: bending over backwards to facilitate arbitration, you know, to push
Speaker 1: arbitration forward. Yes, that's what the Supreme Court in Justice
Speaker 1: Cagan's opinion pointed out that the lower federal courts had
Speaker 1: in effect sent over backwards to enforce an arbitration agreement
Speaker 1: by creating this requirement that in order to show a
Speaker 1: waiver of arbitration, the other side had to have been
Speaker 1: harmed or prejudiced by the delay in enforcing the arbitration rights.
Speaker 1: And what Justice Cagan said is that, uh, that should
Speaker 1: not have been permitted. There should have been no special
Speaker 1: requirement that the employee in this case needed to show
Speaker 1: in order to establish Weaver and as Richard Silberberg, a
Speaker 1: partner at Dorsey and Whitney speaking at the Bloomberg Student Grosso.
Speaker 1: Catch more of that interview, plus analysis of the latest
Speaker 1: legal news, by subscribing to the Bloomberg Law Podcast or
Speaker 1: downloading the show at Bloomberg dot com slash podcasts. Attorneys
Speaker 1: can find exceptional legal research and business development tools at
Speaker 1: Bloomberg Law dot com and on the Bloomberg terminal at
Speaker 1: the Law go SNP. Futures down twenty eight points this morning. Down.
Speaker 1: Futures down two two nowaday Futures down seven and still
Speaker 1: ahead on Bloomberg day Break and check on the business
Speaker 1: headlines and all the news you need to start your day.
Speaker 1: This is Bloomberg