1 00:00:02,840 --> 00:00:06,240 Speaker 1: Live from the Bloomberg Interactive Burger Studios. This is Bloomberg 2 00:00:06,320 --> 00:00:10,440 Speaker 1: Daybreak for Tuesday, November two. Coming up this hour, a 3 00:00:10,520 --> 00:00:13,720 Speaker 1: majority of G twenty nations are set to condemn Russia's 4 00:00:13,720 --> 00:00:17,120 Speaker 1: war in Ukraine. Democrat Katie Hobbs, when's the governor's race 5 00:00:17,160 --> 00:00:20,919 Speaker 1: in Arizona? Former President Trump prepares to announce another run 6 00:00:20,960 --> 00:00:23,040 Speaker 1: for the White House. And we'll tell you which chip 7 00:00:23,040 --> 00:00:25,800 Speaker 1: company we're in. Buffett is taking a stink in New York, 8 00:00:25,800 --> 00:00:28,159 Speaker 1: Mayor Adams announce as a plan to provide housing for 9 00:00:28,200 --> 00:00:31,400 Speaker 1: the homeless. Plus federal prosecutors say Rudy Giuliani when not 10 00:00:31,520 --> 00:00:35,000 Speaker 1: face criminal charges over Ukraine. By Michael blarn Moore Ahead, 11 00:00:35,320 --> 00:00:38,080 Speaker 1: I'm John Stash Hour and Sports Washington, Upset Philadelphia and 12 00:00:38,080 --> 00:00:40,319 Speaker 1: Monday Night Football. I'll win for the Islanders. The nick 13 00:00:40,360 --> 00:00:45,520 Speaker 1: Zonets are on the road tonight. That's all Strady Ahead 14 00:00:45,560 --> 00:00:49,160 Speaker 1: on Bloomberg Daybreak on Bloomberg e Living Free on New York, 15 00:00:49,320 --> 00:00:54,000 Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, 16 00:00:54,320 --> 00:00:59,040 Speaker 1: Bloomberg nine sixties and Francisco Syrius XAM one nineteen and 17 00:00:59,120 --> 00:01:02,200 Speaker 1: around the world on Bloomberg Radio dot Com and via 18 00:01:02,240 --> 00:01:09,160 Speaker 1: the Bloomberg Business and good morning up Nathan Hagar and 19 00:01:09,200 --> 00:01:11,760 Speaker 1: I'm Karen Moscow, u s NO Index, Futures on the 20 00:01:11,880 --> 00:01:13,800 Speaker 1: rise this morning. We're coming up to six o one 21 00:01:13,800 --> 00:01:15,800 Speaker 1: on Wall Street, and we check the markets every fifteen 22 00:01:15,840 --> 00:01:19,160 Speaker 1: minutes throughout the trading day. On Bloomberg. SNP Future is 23 00:01:19,240 --> 00:01:21,480 Speaker 1: up thirty points this morning. Down futures up a hundred 24 00:01:21,560 --> 00:01:24,679 Speaker 1: seventy one nasday futures up one D forty ten year 25 00:01:24,680 --> 00:01:27,640 Speaker 1: Treasury up thirteen thirty seconds, the three point eight to 26 00:01:27,760 --> 00:01:30,400 Speaker 1: zero percent. Nathan, Okay, Karen. We'll get more on the 27 00:01:30,440 --> 00:01:32,440 Speaker 1: markets in a minute, but we begin this morning with 28 00:01:32,480 --> 00:01:35,240 Speaker 1: the G twenty summit. A majority of nations is set 29 00:01:35,240 --> 00:01:37,840 Speaker 1: to condemn Russia's war in Ukraine. That is, according to 30 00:01:37,880 --> 00:01:41,160 Speaker 1: a draft statement seen by Bloomberg News. It represents a 31 00:01:41,240 --> 00:01:44,679 Speaker 1: compromise design to get as many signatures as possible. We 32 00:01:44,760 --> 00:01:47,920 Speaker 1: spoke with former UK Ambassador to Russia Tony Brenton about 33 00:01:47,960 --> 00:01:51,960 Speaker 1: the statement. It doesn't directly Russia. It criticizes the war, 34 00:01:52,120 --> 00:01:57,560 Speaker 1: but doesn't blame Russia for it. It's implicitly criticizes Western sanctions. 35 00:01:57,560 --> 00:01:59,200 Speaker 1: If you look at the economic bits of it, it's 36 00:01:59,240 --> 00:02:02,639 Speaker 1: all about disrupt of supply chains and hitting the global 37 00:02:02,680 --> 00:02:05,040 Speaker 1: energy markets and so on, which war has something to 38 00:02:05,080 --> 00:02:07,320 Speaker 1: do with it, But the real source of that disruption 39 00:02:07,480 --> 00:02:10,760 Speaker 1: is of course Western sanctions, so it stays around various 40 00:02:10,840 --> 00:02:14,200 Speaker 1: delicate points. Former UK Ambassador to Russia Tony Brenton says 41 00:02:14,240 --> 00:02:16,359 Speaker 1: the statement is expertly crafted to get as many G 42 00:02:16,520 --> 00:02:19,920 Speaker 1: twenty leader signatures as possible, well, Nathan. The agreement comes 43 00:02:19,919 --> 00:02:22,520 Speaker 1: just hours after President Biden sat face to face with 44 00:02:22,600 --> 00:02:25,040 Speaker 1: shej and Ping and an effort to ease tensions between 45 00:02:25,040 --> 00:02:28,440 Speaker 1: the two countries. US Trade Chief Katherine Tye says the 46 00:02:28,480 --> 00:02:31,119 Speaker 1: meeting sends a powerful message. You can see that there 47 00:02:31,200 --> 00:02:34,720 Speaker 1: is a familiarity between them, a comfort between them in 48 00:02:34,800 --> 00:02:38,160 Speaker 1: terms of relating to each other, and I think that 49 00:02:38,240 --> 00:02:41,120 Speaker 1: that's a really powerful signal to the rest of the world. 50 00:02:41,680 --> 00:02:44,760 Speaker 1: And US Trade Chief Katherine Tye says further discussions will 51 00:02:44,800 --> 00:02:48,240 Speaker 1: continue meantime. Former Secretary of State Henry Kissinger is praising 52 00:02:48,240 --> 00:02:51,600 Speaker 1: the talks as a step to ease tensions. I would say, 53 00:02:51,960 --> 00:02:59,880 Speaker 1: at the picketting of a bridge building effort, which its passive, 54 00:03:00,160 --> 00:03:05,120 Speaker 1: so long as we remember that if the bridge doesn't 55 00:03:05,160 --> 00:03:11,160 Speaker 1: get billed, the precipiety both former Secretary Kissinger and US 56 00:03:11,200 --> 00:03:13,720 Speaker 1: Trade Representative Time made the comments, said the Bloomberg New 57 00:03:13,720 --> 00:03:16,400 Speaker 1: Economy Forum in Singapore, well back here in the US, 58 00:03:16,520 --> 00:03:19,760 Speaker 1: Karen politics is the focus. It's another big win for 59 00:03:19,919 --> 00:03:23,440 Speaker 1: Democrats as Arizona becomes the latest battleground to reject a 60 00:03:23,520 --> 00:03:27,160 Speaker 1: prominent election to nine candidate. Amy Morris has the details 61 00:03:27,160 --> 00:03:31,320 Speaker 1: from our Bloomberg newsroom. In Washington, Democrat Katie Hobbs was 62 00:03:31,360 --> 00:03:35,240 Speaker 1: elected governor of Arizona, defeating Republican Kerry Lake, who embraced 63 00:03:35,280 --> 00:03:40,160 Speaker 1: former President Trump's baseless claims of widespread fraud in the election. 64 00:03:40,480 --> 00:03:43,240 Speaker 1: The race was called with about percent of the ballots 65 00:03:43,280 --> 00:03:46,280 Speaker 1: counted and Hobbs leading Lake fifty point four percent to 66 00:03:46,400 --> 00:03:49,600 Speaker 1: forty nine point six percent, less than twenty one tho votes. 67 00:03:49,840 --> 00:03:53,200 Speaker 1: It is the latest instance of midterm election voters rejecting 68 00:03:53,240 --> 00:03:58,800 Speaker 1: election deniers in battleground states including Michigan, Pennsylvania, Nevada, and Wisconsin. 69 00:03:59,160 --> 00:04:02,640 Speaker 1: In Washington maybe more as Bloomberg Daybreak, Amy, thank you well. 70 00:04:02,720 --> 00:04:05,640 Speaker 1: Kerry lakes loss in Arizona is unlikely to stop a 71 00:04:05,720 --> 00:04:09,360 Speaker 1: quote very big announcement in Florida tonight. Former President Trump 72 00:04:09,440 --> 00:04:11,240 Speaker 1: is said to kick off a third run for the 73 00:04:11,240 --> 00:04:14,240 Speaker 1: White House at nine pm Wall Street time. That's despite 74 00:04:14,240 --> 00:04:17,840 Speaker 1: a growing number of Republicans and donors urging him to reconsider. 75 00:04:18,120 --> 00:04:21,640 Speaker 1: Among those the billionaire founder of Citadel, Ken Griffin. He lost. 76 00:04:23,600 --> 00:04:27,120 Speaker 1: We lost Georgia because of his behavior in the Senate race. 77 00:04:27,160 --> 00:04:30,520 Speaker 1: In that's a second loss. And then this year the 78 00:04:30,520 --> 00:04:34,159 Speaker 1: Republicans lost the Senate because the Trump back Candidston Senate 79 00:04:34,240 --> 00:04:38,120 Speaker 1: races were rejected by American voters. That's a three time loser. 80 00:04:38,400 --> 00:04:41,080 Speaker 1: Ken Griffin made those comments, said the Bloomberg New Economy 81 00:04:41,120 --> 00:04:43,760 Speaker 1: Forum in Singapore. Here more of the Citadel founders are 82 00:04:43,760 --> 00:04:47,200 Speaker 1: marks coming up later in our program. Turning to the economy, now, Karen, 83 00:04:47,200 --> 00:04:50,000 Speaker 1: we're getting more signs on policy from the FED. Another 84 00:04:50,040 --> 00:04:52,680 Speaker 1: central bank official says it could start slowing the pace 85 00:04:52,720 --> 00:04:54,880 Speaker 1: of rate hikes. We caught up with FED Vice chair 86 00:04:55,040 --> 00:05:00,000 Speaker 1: while Brainerd, I think it will probably be appropriate um 87 00:05:00,240 --> 00:05:04,760 Speaker 1: uh soon um to move to a flower pace of increases. 88 00:05:04,800 --> 00:05:08,800 Speaker 1: But I think what's really important to emphasize we've done 89 00:05:08,839 --> 00:05:12,159 Speaker 1: a lot, but we have additional work to do, both 90 00:05:12,200 --> 00:05:17,719 Speaker 1: on raising rates and sustaining restraint to bring inflation down 91 00:05:17,760 --> 00:05:20,920 Speaker 1: to two percent. Advice chir Law Brandon made those comments 92 00:05:20,920 --> 00:05:23,720 Speaker 1: in an interview with Bloomberg News in Washington. Markets are 93 00:05:23,720 --> 00:05:27,520 Speaker 1: currently pricing in a fifty basis point rate hike in December. Well, Nathan, 94 00:05:27,520 --> 00:05:29,960 Speaker 1: the Fed and Wall Street get another inflation report to 95 00:05:30,000 --> 00:05:32,880 Speaker 1: digest this morning. The producer price in next for October 96 00:05:33,000 --> 00:05:35,599 Speaker 1: comes out before the opening bell on Bloomberg's Michael McKee 97 00:05:35,600 --> 00:05:38,800 Speaker 1: has a preview. There's no direct link between CPI and 98 00:05:38,920 --> 00:05:43,120 Speaker 1: PPI producer prices. There are middlemen in between. Nevertheless, the 99 00:05:43,160 --> 00:05:46,560 Speaker 1: big drop in consumer prices suggests downside risk to pp 100 00:05:46,720 --> 00:05:49,440 Speaker 1: I as well. In particular, economists are looking for a 101 00:05:49,520 --> 00:05:53,840 Speaker 1: drop in the trade services category. Essentially, it reflects wholesaler 102 00:05:53,880 --> 00:05:57,520 Speaker 1: and retailer margins. The huge pandemic demand for goods led 103 00:05:57,560 --> 00:06:01,599 Speaker 1: to big margin expansions. Now the goods demand is coming down, 104 00:06:02,040 --> 00:06:06,200 Speaker 1: margins should compress. Michael McKee, Bloomberg, Gabrie, all right, Mike, 105 00:06:06,240 --> 00:06:08,599 Speaker 1: thanks for also getting earning from big retail this morning. 106 00:06:08,640 --> 00:06:11,320 Speaker 1: Just got earning from Home Depot crossing the Bloomberg terminal 107 00:06:11,320 --> 00:06:14,840 Speaker 1: with third quarter comparable sales beating the average analyst estimate. 108 00:06:15,120 --> 00:06:18,720 Speaker 1: Later this morning we hear from Walmart. Meantime, Nathan, chip 109 00:06:18,800 --> 00:06:21,719 Speaker 1: stocks are getting a liftist Morning on News, Berkshire Hathaway 110 00:06:21,800 --> 00:06:25,240 Speaker 1: has taken a stake in Taiwan semiconductor manufacturing. We get 111 00:06:25,240 --> 00:06:28,560 Speaker 1: more from Bloomberg's done Christner. For a long while, Berkshire 112 00:06:28,640 --> 00:06:31,599 Speaker 1: chairman Warren Buffett shied away from the tech industry. He 113 00:06:31,640 --> 00:06:34,720 Speaker 1: has spoken about not wanting to invest in businesses he 114 00:06:34,760 --> 00:06:38,760 Speaker 1: didn't fully understand. In recent years, though, the stance has changed, 115 00:06:38,880 --> 00:06:42,720 Speaker 1: and now a filing shows Berkshire acquired about sixty million 116 00:06:42,839 --> 00:06:45,479 Speaker 1: a d r S and t SMC in the third quarter. 117 00:06:45,760 --> 00:06:48,719 Speaker 1: Assuming the average quarterly price, the stake would have cost 118 00:06:48,760 --> 00:06:53,160 Speaker 1: Buffett five point one billion dollars. T SMC has overtaken 119 00:06:53,200 --> 00:06:56,119 Speaker 1: Intel in the cutting edge of chip making. It's also 120 00:06:56,160 --> 00:06:58,479 Speaker 1: emerged as a vital player as the U. S and 121 00:06:58,560 --> 00:07:02,760 Speaker 1: China clash over leadership in global technology industries. In New 122 00:07:02,839 --> 00:07:05,200 Speaker 1: York on Dug Prisoner Bloomberg Daybreak, Thank you, Doug and 123 00:07:05,200 --> 00:07:07,440 Speaker 1: Bloomberg Daybreaks brought to you by b n y Melon's 124 00:07:07,480 --> 00:07:10,360 Speaker 1: Pershing learned why the world's most sophisticated wealth management and 125 00:07:10,400 --> 00:07:13,760 Speaker 1: institutional firms rely on Pershing to help them improve profitability, 126 00:07:13,760 --> 00:07:18,720 Speaker 1: create efficiency, attract talent, and manage risk At Pershing dot Com. 127 00:07:18,760 --> 00:07:24,280 Speaker 1: This is Bloomberg and at six though seven on Wall 128 00:07:24,320 --> 00:07:26,960 Speaker 1: Street where thirty six degrees in Central Park. It's a 129 00:07:27,000 --> 00:07:29,680 Speaker 1: half hour getting in through the hall and tunnel. This morning, 130 00:07:30,240 --> 00:07:32,360 Speaker 1: Michael Bars here with more on what's going on once 131 00:07:32,400 --> 00:07:35,080 Speaker 1: you get into New York and around the world. Good morning, Michael, 132 00:07:35,160 --> 00:07:37,920 Speaker 1: Good morning Nathan. New York City officials unveiled a new 133 00:07:37,960 --> 00:07:41,240 Speaker 1: plan to find homes for the homeless. Mayor Eric Adams 134 00:07:41,360 --> 00:07:44,000 Speaker 1: as the new options include cutting down on the red 135 00:07:44,040 --> 00:07:48,200 Speaker 1: tape and reducing requirements for vouchers and other programs. We 136 00:07:48,320 --> 00:07:52,560 Speaker 1: are changing the city FIPPS UH rental assistance programs so 137 00:07:52,640 --> 00:07:55,520 Speaker 1: that we can give vouchers to more families and make 138 00:07:55,560 --> 00:07:59,680 Speaker 1: them easier to use. We're reducing the number of ours 139 00:07:59,720 --> 00:08:03,920 Speaker 1: family these are required to work to become eligible, from 140 00:08:03,960 --> 00:08:08,080 Speaker 1: thirty to fourteen hours per week. Mayor Adams went on 141 00:08:08,120 --> 00:08:10,520 Speaker 1: to say it doesn't make sense for a person making 142 00:08:10,560 --> 00:08:13,239 Speaker 1: minimum wage to be told they make too much money 143 00:08:13,240 --> 00:08:17,400 Speaker 1: for city assistance. Federal prosecutors in Manhattan have declined to 144 00:08:17,440 --> 00:08:21,840 Speaker 1: file criminal charges against Rudy Giuliani over his lobbying activities 145 00:08:21,840 --> 00:08:25,640 Speaker 1: in Ukraine. Prosecutors had been investigating whether the former New 146 00:08:25,720 --> 00:08:29,040 Speaker 1: York mayor should have registered as a foreign agent over 147 00:08:29,120 --> 00:08:32,440 Speaker 1: his lobbying of the Trump administration to house then US 148 00:08:32,480 --> 00:08:36,720 Speaker 1: Ambassador Marie Ivanovitch from Ukraine. Giuliani maintained he had done 149 00:08:36,720 --> 00:08:40,800 Speaker 1: nothing wrong. Tech entrepreneur Brandon Williams has been elected to 150 00:08:40,800 --> 00:08:44,200 Speaker 1: Congress in a district in central New York, becoming the 151 00:08:44,240 --> 00:08:47,720 Speaker 1: eleventh Republican to win a house race this fall. AP 152 00:08:47,960 --> 00:08:51,960 Speaker 1: finally called it late last night. Williams defeated Democrat Francis 153 00:08:52,120 --> 00:08:55,680 Speaker 1: Canole in the contest to pick a successor to US 154 00:08:55,760 --> 00:09:00,000 Speaker 1: Representative John Katko, a Republican who is retiring from office. 155 00:09:00,640 --> 00:09:03,480 Speaker 1: Doctors in New Mexico are warning of what they are 156 00:09:03,520 --> 00:09:07,720 Speaker 1: calling the threat of a triple Demmick Bloomberg's and Maxter 157 00:09:07,840 --> 00:09:11,199 Speaker 1: reports that is the convergence of the flu rs V 158 00:09:11,480 --> 00:09:14,599 Speaker 1: and COVID at the same time. Dr John Peterson is 159 00:09:14,600 --> 00:09:17,960 Speaker 1: a pediatric specialist in Albuquerque. Is not uncommon for us 160 00:09:18,000 --> 00:09:23,439 Speaker 1: to have a very significant respiratory viral season for for children. 161 00:09:23,679 --> 00:09:27,760 Speaker 1: What's different about about this is that it's occurring very early. 162 00:09:27,920 --> 00:09:31,360 Speaker 1: Peterson says. Hospitals nationwide are already seeing a large number 163 00:09:31,360 --> 00:09:35,520 Speaker 1: of cases and infants with RSV and fear a very 164 00:09:35,520 --> 00:09:39,520 Speaker 1: serious season overall. In San Francisco, I'm at Baxter, Bloomberg, 165 00:09:39,520 --> 00:09:42,800 Speaker 1: Gay Break, President Joe Biden and Indonesian President Joco Widotto 166 00:09:42,840 --> 00:09:46,640 Speaker 1: will announce the Climate Finance Deal, providing twenty billion dollars 167 00:09:46,840 --> 00:09:50,240 Speaker 1: to help Indonesia pivot away from coal power. The deal 168 00:09:50,320 --> 00:09:53,360 Speaker 1: broke it between the U S, Indonesia, and Japan, came 169 00:09:53,400 --> 00:09:55,800 Speaker 1: on the sidelines of the G twenty summit in Belling. 170 00:09:56,200 --> 00:09:58,599 Speaker 1: Global News twenty four hours a day on air and 171 00:09:58,720 --> 00:10:02,000 Speaker 1: on Bloomberg Quicktake, houred by more than twenty seven hundred 172 00:10:02,040 --> 00:10:04,840 Speaker 1: journalists and analysts more than a hundred twenty countries. Michael Barr, 173 00:10:04,920 --> 00:10:11,720 Speaker 1: this is Bloomberg, Nathan, Michael, thank you almost sixth ten 174 00:10:11,760 --> 00:10:13,600 Speaker 1: on Wall Street time for the Bloomberg Sports Up. They 175 00:10:13,600 --> 00:10:16,080 Speaker 1: brought to you by Tri State OUTI. There's John Stanshaw, 176 00:10:16,240 --> 00:10:19,480 Speaker 1: all right, Nathan, fifty years ago. Miami Dolphins last NFL 177 00:10:19,480 --> 00:10:22,000 Speaker 1: team to go an entire season undefeated. Nobody expected the 178 00:10:22,040 --> 00:10:24,959 Speaker 1: Eagles to go twenty and oh. Last night didn't figured 179 00:10:25,040 --> 00:10:27,000 Speaker 1: to be their first lost. An eleven point favorite at 180 00:10:27,040 --> 00:10:29,560 Speaker 1: home with Washington has got all kinds of issues with 181 00:10:29,559 --> 00:10:32,839 Speaker 1: their ownership, but the Commanders, after falling behind early dominated 182 00:10:32,920 --> 00:10:35,520 Speaker 1: had the ball for more than forty minutes, forced four 183 00:10:35,640 --> 00:10:38,400 Speaker 1: Philly turnovers, three of the fourth quarter, one right at 184 00:10:38,440 --> 00:10:41,559 Speaker 1: the end after hurts Washington brigs three. He steps up, 185 00:10:41,800 --> 00:10:45,079 Speaker 1: throws underneath, caught by Walker, thrown to Smith. You try 186 00:10:45,120 --> 00:10:47,040 Speaker 1: to throw it backwards. He's hit my camp pearl that 187 00:10:47,120 --> 00:10:49,480 Speaker 1: has picked up by Katy too Hill in the end zone. 188 00:10:49,600 --> 00:10:54,040 Speaker 1: It's a defensive touchdown to end the game. Point Tendon 189 00:10:54,160 --> 00:10:58,959 Speaker 1: undefeated season of the Eagles b I G Washington Philadelphia 190 00:10:59,040 --> 00:11:00,800 Speaker 1: twenty one to the Commander. Now five and five, the 191 00:11:00,840 --> 00:11:02,840 Speaker 1: Eagles are eight and one, the Giants only one game behind. 192 00:11:03,240 --> 00:11:05,319 Speaker 1: Giants still left two games left with Philly also to 193 00:11:05,440 --> 00:11:08,400 Speaker 1: with Washington Islanders four to one at Ottawa the Isles 194 00:11:08,440 --> 00:11:10,320 Speaker 1: of one nine to the last eleven. The Devils have 195 00:11:10,360 --> 00:11:12,520 Speaker 1: won all of their last night, and they played tonight 196 00:11:12,520 --> 00:11:14,600 Speaker 1: in Montreal. Started a five game road trip for the 197 00:11:14,640 --> 00:11:18,160 Speaker 1: next first up Utah. The Jazz surprisingly with ten wins, 198 00:11:18,200 --> 00:11:20,720 Speaker 1: most in the West. Then that's still without Kyrie irving 199 00:11:20,760 --> 00:11:23,559 Speaker 1: their trip to Todos tonight in Sacramento. Tragedy at the 200 00:11:23,640 --> 00:11:26,360 Speaker 1: University of Virginia. Three members of the football team murdered 201 00:11:26,360 --> 00:11:28,400 Speaker 1: on campus Sunday night, they had just played a game 202 00:11:28,440 --> 00:11:30,680 Speaker 1: on Saturday. They had just returned home from a bus 203 00:11:30,720 --> 00:11:32,839 Speaker 1: trip to Washington, d C. A one time member of 204 00:11:32,840 --> 00:11:35,400 Speaker 1: the football team has been arrested. Parrots twenty one year 205 00:11:35,440 --> 00:11:38,280 Speaker 1: old outfielders named rookies of the Year, Seattle's Julio Rodriguez, 206 00:11:38,320 --> 00:11:41,360 Speaker 1: Atlanta's Michael Harris. They'll name the managers of the Year today. 207 00:11:41,400 --> 00:11:43,520 Speaker 1: The Mets Bucks show Walter favored in the n album. 208 00:11:43,520 --> 00:11:46,440 Speaker 1: Miami Marlins already have a female g M. They promoted 209 00:11:46,440 --> 00:11:49,320 Speaker 1: New Jersey native Caroline O'Connor to be their team president. 210 00:11:49,559 --> 00:11:53,200 Speaker 1: John stash Award, Blomberg spalls Nathan John Thank you. SMP 211 00:11:53,320 --> 00:11:55,319 Speaker 1: Future is now up thirty points, South Futures up a 212 00:11:55,360 --> 00:11:58,600 Speaker 1: hundred forty six and sert NASTAC futures actually ten year 213 00:11:58,640 --> 00:12:02,480 Speaker 1: treasuries up sixteen thirty seconds. The yield three point seven 214 00:12:02,559 --> 00:12:08,360 Speaker 1: nine percent. This is Bloomberg. Bloomberg Sports was brought to 215 00:12:08,360 --> 00:12:10,280 Speaker 1: you by Audie. Don't let someone else drive off in 216 00:12:10,320 --> 00:12:12,760 Speaker 1: the autie model. You've always wanted to visit your local 217 00:12:12,800 --> 00:12:14,760 Speaker 1: price state autie dealer to get behind the wheel of 218 00:12:14,760 --> 00:12:18,440 Speaker 1: yours today, or visit autie Offers dot com for more information. 219 00:12:21,960 --> 00:12:25,360 Speaker 1: Markets headlines and breaking news twenty four hours a day 220 00:12:25,480 --> 00:12:28,480 Speaker 1: at Bloomberg dot Com, the Bloomberg Business at and at 221 00:12:28,480 --> 00:12:38,000 Speaker 1: Bloomberg Quick Tape. He's a Bloomberg Business Flash and I'm 222 00:12:38,080 --> 00:12:40,760 Speaker 1: Cameron Moscow watching shares of Home Depot. They're down more 223 00:12:40,800 --> 00:12:43,560 Speaker 1: than two percent in early trading. It did report same 224 00:12:43,640 --> 00:12:45,960 Speaker 1: store sales for the third quarter that beat the average 225 00:12:45,960 --> 00:12:49,560 Speaker 1: analysts estimate and maintained its forecast for the year, though 226 00:12:49,600 --> 00:12:52,719 Speaker 1: and that missed estimates. Futures are higher. S and P 227 00:12:52,880 --> 00:12:55,240 Speaker 1: futures up twenty eight points down features of a hundred 228 00:12:55,240 --> 00:12:57,520 Speaker 1: four and NAS day futures up one hundred thirties seven. 229 00:12:57,760 --> 00:12:59,760 Speaker 1: The Hank Sing in Hong Kong jump four point one 230 00:12:59,800 --> 00:13:02,400 Speaker 1: for sent the ten year treasury up fifteen thirty seconds. 231 00:13:02,559 --> 00:13:04,760 Speaker 1: He had three point seven nine and a yield on 232 00:13:04,840 --> 00:13:07,880 Speaker 1: the two year four point three. And as a Bloomberg 233 00:13:07,880 --> 00:13:10,240 Speaker 1: Business Flash. Now here's Michael Barr with more on what's 234 00:13:10,280 --> 00:13:12,920 Speaker 1: going on around the world. Michael Karen, thank you very much. 235 00:13:12,960 --> 00:13:15,440 Speaker 1: Former President Donald Trump has said to be preparing to 236 00:13:15,520 --> 00:13:19,120 Speaker 1: launch another campaign for the White House with an announcement tonight. 237 00:13:19,679 --> 00:13:23,240 Speaker 1: Some Republicans are urging him to delay the announcement, blaming 238 00:13:23,280 --> 00:13:26,319 Speaker 1: Trump for far right candidates losing in the mid term elections, 239 00:13:26,720 --> 00:13:31,240 Speaker 1: Democrat Katie Hobbs was elected governor of Arizona. Hobbs defeated 240 00:13:31,280 --> 00:13:35,320 Speaker 1: Republican Kerry Lake, who embraced former President Trump's claims of 241 00:13:35,400 --> 00:13:40,640 Speaker 1: widespread fraud in the election. In the NFL, Undefeated no More. 242 00:13:40,720 --> 00:13:43,680 Speaker 1: The Eagles lost to the Commander's thirty two twenty one 243 00:13:44,000 --> 00:13:46,280 Speaker 1: in the NBA, and the Celtics have won seventh straight, 244 00:13:46,320 --> 00:13:49,760 Speaker 1: beating the Thunder one twenty two. The Warriors won in 245 00:13:49,800 --> 00:13:53,160 Speaker 1: the NHL. The Islanders won Global news twenty four hours 246 00:13:53,200 --> 00:13:56,400 Speaker 1: a day on air and on Bloomberg Quicktake, powered by 247 00:13:56,440 --> 00:13:59,080 Speaker 1: more than twenty seven hundred journalists and analysts more than 248 00:13:59,120 --> 00:14:02,400 Speaker 1: a hundred twenty trees. Michael var and this is Bloomberg. 249 00:14:02,840 --> 00:14:05,440 Speaker 1: Thanks Michael. It's six nineteen on Wall Street Live from 250 00:14:05,440 --> 00:14:08,840 Speaker 1: the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak, and 251 00:14:08,880 --> 00:14:11,439 Speaker 1: we want to bring you some conversation from the Bloomberg 252 00:14:11,480 --> 00:14:15,600 Speaker 1: New Economy Forum in Singapore, this time with Citadel founder 253 00:14:15,679 --> 00:14:19,320 Speaker 1: Ken Griffin. In an interview with Bloomberg's Eric Shatzker, Griffin 254 00:14:19,360 --> 00:14:22,080 Speaker 1: said he is skeptical the US can avoid a recession 255 00:14:22,200 --> 00:14:24,200 Speaker 1: next year, though he also said it would be a 256 00:14:24,240 --> 00:14:27,040 Speaker 1: dire error for the Federal Reserve to change course on 257 00:14:27,120 --> 00:14:30,920 Speaker 1: monetary policy at this point. The Republican donor also discussed 258 00:14:30,960 --> 00:14:34,480 Speaker 1: President Trump's potential third run for the White House. Let's 259 00:14:34,520 --> 00:14:38,560 Speaker 1: listen in to that conversation. Now. The question the Republican 260 00:14:38,600 --> 00:14:42,000 Speaker 1: Party is wrestling with is should it unify, unite if 261 00:14:42,000 --> 00:14:44,600 Speaker 1: you will behind the Santis now or should it let 262 00:14:44,600 --> 00:14:49,960 Speaker 1: the Trump the Santis rival lee play out, possibly, you know, 263 00:14:50,080 --> 00:14:52,840 Speaker 1: in in a battle for the soul of the party 264 00:14:52,920 --> 00:14:56,920 Speaker 1: that potentially puts it at a disadvantage relative to the 265 00:14:56,960 --> 00:14:59,600 Speaker 1: Democrats two years from now. So there's we all had 266 00:14:59,600 --> 00:15:02,040 Speaker 1: to sort of fantasy that these decisions are made by 267 00:15:02,080 --> 00:15:06,480 Speaker 1: people in his back rooms. I haven't found that room, 268 00:15:06,560 --> 00:15:12,080 Speaker 1: and I don't know those people. So in the United States, 269 00:15:12,120 --> 00:15:15,040 Speaker 1: in both parties, the people that are running for the 270 00:15:15,080 --> 00:15:17,920 Speaker 1: office the president, they're on a mission on their own 271 00:15:18,320 --> 00:15:20,360 Speaker 1: and they're gonna do what they're gonna do. The process 272 00:15:20,400 --> 00:15:22,640 Speaker 1: has to play out. The process has to play out now. 273 00:15:22,600 --> 00:15:25,920 Speaker 1: I really do hope that President Trump sees the ready 274 00:15:26,000 --> 00:15:31,920 Speaker 1: on the wall. He lost, we lost Georgia because of 275 00:15:31,960 --> 00:15:35,480 Speaker 1: his behavior in the Senate race. In that's the second loss. 276 00:15:36,120 --> 00:15:38,800 Speaker 1: And then this year the Republicans lost the Senate because 277 00:15:38,880 --> 00:15:42,200 Speaker 1: the Trump backed candidates in the Senate races were rejected 278 00:15:42,200 --> 00:15:45,680 Speaker 1: by American voters. That's a three time loser. And I'd 279 00:15:45,720 --> 00:15:48,040 Speaker 1: like to think that the Republican Party is ready to 280 00:15:48,040 --> 00:15:50,480 Speaker 1: move on from somebody who has been for this party 281 00:15:50,520 --> 00:15:53,760 Speaker 1: a three time loser. And of course it's so important 282 00:15:53,800 --> 00:15:57,720 Speaker 1: to talk about the Federal Reserve. It sets the risk 283 00:15:57,760 --> 00:15:59,280 Speaker 1: free rate for the rest of the world. And of 284 00:15:59,280 --> 00:16:03,000 Speaker 1: course his career add unbelievable complications with the strength of 285 00:16:03,040 --> 00:16:06,640 Speaker 1: the dollar for emerging markets. Some fit officials can say 286 00:16:06,680 --> 00:16:12,880 Speaker 1: the time has already come to back off. I could 287 00:16:12,880 --> 00:16:18,080 Speaker 1: cite Charles Evans, I could cite Leo Branard, who didn't 288 00:16:18,080 --> 00:16:20,600 Speaker 1: say it's time now, but it will be time soon. 289 00:16:22,040 --> 00:16:25,240 Speaker 1: Are we there yet? It's sort of like saying you 290 00:16:25,280 --> 00:16:27,640 Speaker 1: go to your doctor you've got a bacterial infection, and 291 00:16:27,680 --> 00:16:31,120 Speaker 1: he gives you ten pills to take, and you stopped 292 00:16:31,160 --> 00:16:34,400 Speaker 1: taking him after pill number seven, and then you relapse 293 00:16:34,800 --> 00:16:39,040 Speaker 1: a few days later, Like it's not yet time for 294 00:16:39,160 --> 00:16:42,640 Speaker 1: us to change course on our monetary policy. We want 295 00:16:42,680 --> 00:16:44,920 Speaker 1: to see that we put the inflation genie back in 296 00:16:44,960 --> 00:16:48,120 Speaker 1: the bottle we could. We've endured a ton of pain 297 00:16:48,200 --> 00:16:51,200 Speaker 1: in getting to this point. The housing market is definitely 298 00:16:51,240 --> 00:16:56,000 Speaker 1: under duress, Durable good sales are under duress. High ticket 299 00:16:56,040 --> 00:16:58,640 Speaker 1: items are just out of reach consumers today. But we 300 00:16:58,720 --> 00:17:01,840 Speaker 1: haven't gotten a job done. And to take the foot 301 00:17:01,880 --> 00:17:04,879 Speaker 1: off the break right now and not finish the job, 302 00:17:05,440 --> 00:17:07,960 Speaker 1: I think it's the absolute worst mistake the FED could 303 00:17:08,000 --> 00:17:14,480 Speaker 1: possibly make. Why what what happens if they again back 304 00:17:14,520 --> 00:17:18,200 Speaker 1: off too early? If if if you take only seven 305 00:17:18,240 --> 00:17:20,359 Speaker 1: pills instead of ten, what are the consequences for the 306 00:17:20,440 --> 00:17:22,879 Speaker 1: U s economy and for the global economy. Furthermore, so, 307 00:17:22,960 --> 00:17:27,280 Speaker 1: the biggest concern is you on anchor inflation expectations. So 308 00:17:27,600 --> 00:17:32,160 Speaker 1: right now the American public believes, and not as much 309 00:17:32,160 --> 00:17:34,360 Speaker 1: as we'd like, but the American public believes the FED 310 00:17:34,440 --> 00:17:37,359 Speaker 1: is going to get the job done. If we take 311 00:17:37,480 --> 00:17:39,359 Speaker 1: the foot off the break, we don't finish the course 312 00:17:39,359 --> 00:17:45,240 Speaker 1: of antibiotics, and inflation starts to flare back up, the 313 00:17:45,280 --> 00:17:49,240 Speaker 1: FED will have lost credibility. If a FED loses credibility 314 00:17:49,320 --> 00:17:53,840 Speaker 1: and inflation expectations on anchor, then the amount by which 315 00:17:53,840 --> 00:17:56,720 Speaker 1: will need to raise rates and deter economic growth will 316 00:17:56,760 --> 00:17:59,520 Speaker 1: be a much bigger bill to pay, and we just 317 00:17:59,800 --> 00:18:02,200 Speaker 1: we shouldn't put ourselves a position to pay that bill. 318 00:18:02,359 --> 00:18:04,439 Speaker 1: We should get the job done. Now, we think that 319 00:18:04,480 --> 00:18:07,440 Speaker 1: the one of the biggest drivers of consumer prices, which 320 00:18:07,480 --> 00:18:12,600 Speaker 1: is rent, has reached near term peak. The shift from 321 00:18:12,600 --> 00:18:15,920 Speaker 1: a goods based economy to a service based economies going 322 00:18:15,960 --> 00:18:19,880 Speaker 1: to create this this depreciation and pricing of goods, which 323 00:18:19,920 --> 00:18:22,520 Speaker 1: of course will will help bring inflation down. So we 324 00:18:22,560 --> 00:18:25,720 Speaker 1: think the inflationary path is pete. We think by the 325 00:18:25,800 --> 00:18:30,200 Speaker 1: end of our our our central view as inflation will 326 00:18:30,240 --> 00:18:33,439 Speaker 1: be back to roughly a load of mid twos range, 327 00:18:33,920 --> 00:18:36,720 Speaker 1: which is a dramatic change from where we are today. 328 00:18:37,040 --> 00:18:38,679 Speaker 1: What I want to know from you, Ken is what 329 00:18:38,720 --> 00:18:42,360 Speaker 1: do you make of the spectacular collapse of Sam Bankman 330 00:18:42,480 --> 00:18:46,960 Speaker 1: Freed's f t X. Okay, so big picture, the crypto 331 00:18:47,000 --> 00:18:48,879 Speaker 1: market cap today is a fraction of what it was 332 00:18:48,880 --> 00:18:51,879 Speaker 1: when we first started talking about it. So crypto is 333 00:18:51,920 --> 00:18:54,080 Speaker 1: not It was three trillion and now it's well under 334 00:18:54,080 --> 00:18:59,080 Speaker 1: a billions, which a big part of that stable coins, right, 335 00:18:59,119 --> 00:19:01,480 Speaker 1: So you you really moved back into world of Bitcoin 336 00:19:01,600 --> 00:19:05,960 Speaker 1: and ethereum is the two dominant cryptocurrencies, both which actually 337 00:19:05,960 --> 00:19:09,240 Speaker 1: happened to be c c regulated. Look, f t X 338 00:19:09,880 --> 00:19:14,080 Speaker 1: is one of these absolute travesties in the history of 339 00:19:14,119 --> 00:19:17,640 Speaker 1: financial markets. I mean people will lose billions of dollars. People, 340 00:19:18,200 --> 00:19:22,520 Speaker 1: people are gonna lose billions of dollars, and that undermines 341 00:19:22,840 --> 00:19:28,800 Speaker 1: trust in all financial markets. And that was Citadel founder 342 00:19:28,880 --> 00:19:32,360 Speaker 1: Ken Griffin speaking at the Bloomberg New Economy Forum in Singapore. 343 00:19:32,400 --> 00:19:35,160 Speaker 1: You can catch the full interview on Bloomberg dot com 344 00:19:35,240 --> 00:19:38,160 Speaker 1: and on the Bloomberg terminal. Looking ahead to the market, 345 00:19:38,200 --> 00:19:41,439 Speaker 1: open futures are pointed higher. We've got SMP futures right 346 00:19:41,480 --> 00:19:44,160 Speaker 1: now up twenty six points. Now futures up eight seven 347 00:19:44,600 --> 00:19:47,479 Speaker 1: and NASTACK futures are higher by a hundred thirty one 348 00:19:47,520 --> 00:19:50,720 Speaker 1: points ten. Your treasuries up fourteen thirty seconds. The yield 349 00:19:50,760 --> 00:19:53,680 Speaker 1: three point zero percent. Yield on the two year four 350 00:19:53,880 --> 00:19:57,560 Speaker 1: point three four Quick check a bitcoin, it's up two 351 00:19:57,560 --> 00:20:01,520 Speaker 1: point two on the session at sixteen thousand, seven forty dollars. 352 00:20:02,600 --> 00:20:08,600 Speaker 1: You're listening to Bloomberg Day b Bloomberg eleven three oh Weather. 353 00:20:08,720 --> 00:20:11,560 Speaker 1: Late day showers today with a high in the upper forties, 354 00:20:11,680 --> 00:20:14,840 Speaker 1: rain of land early tomorrow, turn partly sunny, low fifties 355 00:20:14,840 --> 00:20:18,119 Speaker 1: for highs upper forties again Thursday, Right now thirty six 356 00:20:18,320 --> 00:20:25,399 Speaker 1: in Central Park, broadcasting live from the Bloomberg Interactive Broker 357 00:20:25,520 --> 00:20:28,920 Speaker 1: Studio in New York, Bloomberg E Living Freedom to Washington, 358 00:20:29,000 --> 00:20:33,120 Speaker 1: d C, Bloomberg to Boston, Bloomberg one oh six one 359 00:20:33,200 --> 00:20:36,680 Speaker 1: does San Francisco, Bloomberg M sixty to the Country, Sirius 360 00:20:36,840 --> 00:20:39,439 Speaker 1: xm Cho one nine team, and around the globe the 361 00:20:39,440 --> 00:20:43,959 Speaker 1: Bloomberg business in Bloomberg Radio dot com. This is Bloomberg 362 00:20:44,040 --> 00:20:51,679 Speaker 1: Day Break six thirty on Wall Street. Good morning, I'm 363 00:20:51,760 --> 00:20:54,879 Speaker 1: Nathan Hager and I'm Karen Moscow. We are just about 364 00:20:55,160 --> 00:20:57,520 Speaker 1: three hours away from the open of US trade. Ain't 365 00:20:57,560 --> 00:20:59,120 Speaker 1: time for the five things that you need to notice? 366 00:20:59,160 --> 00:21:02,119 Speaker 1: Start your day? To you by Interactive Brokers I b 367 00:21:02,240 --> 00:21:04,639 Speaker 1: k R. Event Trader offers a new way to trade 368 00:21:04,640 --> 00:21:07,520 Speaker 1: futures US event contracts. To trade your opinion on or 369 00:21:07,560 --> 00:21:11,000 Speaker 1: no questions in KECME futures markets. Learn more an event 370 00:21:11,040 --> 00:21:15,240 Speaker 1: Trader dot Interactive Brokers dot com. At first, a majority 371 00:21:15,240 --> 00:21:18,000 Speaker 1: of nations are sent to condemn Russia's war in Ukraine 372 00:21:18,000 --> 00:21:20,639 Speaker 1: at the G twenty summit in Indonesia, according to a 373 00:21:20,720 --> 00:21:24,040 Speaker 1: draft to joint statements seen by Bloomberg News. We talked 374 00:21:24,080 --> 00:21:27,119 Speaker 1: about it with former UK Ambassador to Russia Tony Brennon. 375 00:21:27,440 --> 00:21:30,320 Speaker 1: What I've seen is is actually been rather expertly drafted 376 00:21:30,359 --> 00:21:34,040 Speaker 1: to share a dedicate way around all sorts of people's obstacles. 377 00:21:34,400 --> 00:21:37,800 Speaker 1: It doesn't directly criticize Russia. It criticizes the war, but 378 00:21:37,880 --> 00:21:41,560 Speaker 1: not doesn't blame Russia for it. Former UK Ambassador to 379 00:21:41,640 --> 00:21:45,080 Speaker 1: Russia Tony Brennon said the draft represents a compromise to 380 00:21:45,119 --> 00:21:47,720 Speaker 1: get as many signatures as possible. Also at the G 381 00:21:47,920 --> 00:21:52,520 Speaker 1: twenty Karen, President Biden announced the Pact of Global Infrastructure Investments. 382 00:21:53,160 --> 00:21:56,720 Speaker 1: We're at an inflection point. Investments we make today will 383 00:21:56,760 --> 00:21:59,920 Speaker 1: have far reaching impact on the world for generations to 384 00:22:00,480 --> 00:22:03,320 Speaker 1: President Biden spoke after yesterday's face to face meeting with 385 00:22:03,400 --> 00:22:06,200 Speaker 1: Chinese leader Shi Jin Paying. US Trade Chief Katherine Tye 386 00:22:06,240 --> 00:22:09,160 Speaker 1: says it was an open discussion designed to ease tensions 387 00:22:09,240 --> 00:22:13,159 Speaker 1: between the nations. He raised with President She something that 388 00:22:13,880 --> 00:22:19,000 Speaker 1: we have raised consistently US concerns about the negative economic 389 00:22:19,080 --> 00:22:23,200 Speaker 1: impacts of China's non market economic policies. US Trade Chief 390 00:22:23,280 --> 00:22:25,920 Speaker 1: Katherine Tye spoke from the Bloomberg New Economy Forum in 391 00:22:26,040 --> 00:22:29,119 Speaker 1: Singapore to Politics at Home now Nathan another blow to 392 00:22:29,240 --> 00:22:33,200 Speaker 1: former President Trump. Trump ally and election denier carry Lake 393 00:22:33,400 --> 00:22:36,920 Speaker 1: lost the Arizona governor's race to Democrat Katie Hobbs. The 394 00:22:37,000 --> 00:22:39,520 Speaker 1: former president is making a very big announcement in nine 395 00:22:39,560 --> 00:22:42,640 Speaker 1: PM tonight, likely a third White House bid, but many 396 00:22:42,720 --> 00:22:46,080 Speaker 1: Republicans and donors are asking him to reconsider, including Citadel 397 00:22:46,160 --> 00:22:49,320 Speaker 1: founder Ken Griffin. I'd like to think that the Republican 398 00:22:49,359 --> 00:22:51,679 Speaker 1: Party is ready to move on from somebody who's been 399 00:22:51,760 --> 00:22:54,479 Speaker 1: for this party, a three time loser. Ken Griffin made 400 00:22:54,520 --> 00:22:57,320 Speaker 1: the comments at the Bloomberg New Economy Forum in Singapore 401 00:22:57,560 --> 00:22:59,920 Speaker 1: to the Economy Now, Karen fed Vice chair law brand 402 00:23:00,000 --> 00:23:02,160 Speaker 1: It tells Bloomberg the Central Make should consider the pace 403 00:23:02,240 --> 00:23:05,240 Speaker 1: of its rate hike path moving forward. We have additional 404 00:23:05,320 --> 00:23:10,199 Speaker 1: work to do both on raising rates and sustaining restraint 405 00:23:10,520 --> 00:23:14,159 Speaker 1: to bring inflation down to Vice chare Lyle Brandon and 406 00:23:14,200 --> 00:23:16,560 Speaker 1: the rest of the federal have another inflation report to 407 00:23:16,640 --> 00:23:20,560 Speaker 1: digest this morning. October's Producer Price Index comes out before 408 00:23:20,600 --> 00:23:22,600 Speaker 1: the bell, and that's the five things that you need 409 00:23:22,680 --> 00:23:25,439 Speaker 1: to notice start your day. Brought to you by Interactive 410 00:23:25,520 --> 00:23:28,639 Speaker 1: Brokers again, Futures on the rise this morning and straight 411 00:23:28,680 --> 00:23:31,280 Speaker 1: ahead we have your latest local headlines, plus to check 412 00:23:31,359 --> 00:23:39,840 Speaker 1: of sports and this is Bloomberg. Thanks Karen sixty three. 413 00:23:39,960 --> 00:23:42,720 Speaker 1: On Wall Street where thirty six degrees in Central Park. 414 00:23:42,800 --> 00:23:46,240 Speaker 1: We gotta crash on the southbound Harlem River Drive hundred street. 415 00:23:46,280 --> 00:23:48,920 Speaker 1: Details coming up in traffic. First Michael Barr with what 416 00:23:49,040 --> 00:23:50,920 Speaker 1: else is going on in New York and around the world. 417 00:23:51,000 --> 00:23:53,840 Speaker 1: Good morning, Michael, Good morning Nathan. New York City Mayor 418 00:23:54,240 --> 00:23:57,960 Speaker 1: Rudy Giuliani will not face criminal charges over his interactions 419 00:23:58,000 --> 00:24:02,520 Speaker 1: with Ukrainian figures in the up to the presidential election. 420 00:24:02,920 --> 00:24:06,400 Speaker 1: Federal prosecutors in the U. S. Attorney's Office in Manhattan 421 00:24:06,520 --> 00:24:10,440 Speaker 1: said they made the decision after reviewing electronic evidence gathered 422 00:24:10,480 --> 00:24:14,000 Speaker 1: in raids on the former mayor's home and law office 423 00:24:14,280 --> 00:24:17,480 Speaker 1: in April of one, ju Leani tweeted that it was 424 00:24:17,600 --> 00:24:21,600 Speaker 1: a complete and total vindication. New York City officials unveiled 425 00:24:21,640 --> 00:24:24,399 Speaker 1: a new plan to find homes for the homeless. Mayor 426 00:24:24,480 --> 00:24:27,680 Speaker 1: Adams says the new options include cutting down on the 427 00:24:27,720 --> 00:24:31,639 Speaker 1: red tape and reducing requirements for vouchers and other programs. 428 00:24:31,840 --> 00:24:34,159 Speaker 1: It just doesn't make sense when you think about it. 429 00:24:34,600 --> 00:24:37,960 Speaker 1: Um opposed to making minimum wage un told they make 430 00:24:38,080 --> 00:24:41,720 Speaker 1: too much money for city. Felt fels minimum wage, but 431 00:24:41,800 --> 00:24:44,480 Speaker 1: they're saying you make too much money. It just doesn't 432 00:24:44,480 --> 00:24:47,119 Speaker 1: add up. And what it does add up to is 433 00:24:47,280 --> 00:24:50,520 Speaker 1: a crisis and housing crisis and which changing the mayor. 434 00:24:50,560 --> 00:24:53,440 Speaker 1: Adams says the new plan would in some cases skip 435 00:24:53,520 --> 00:24:57,680 Speaker 1: temporary housing shelters altogether. There has been shock and sadness 436 00:24:57,760 --> 00:25:00,240 Speaker 1: on the campus of the University of Virginia, whares Orton 437 00:25:00,320 --> 00:25:02,720 Speaker 1: is accused of killing three members of the football team. 438 00:25:03,160 --> 00:25:05,680 Speaker 1: The players were returning from a class trip when authorities 439 00:25:05,680 --> 00:25:10,720 Speaker 1: say Christopher Darnell Jones Jr. Opened fire, killing Devin Chandler, 440 00:25:10,800 --> 00:25:14,639 Speaker 1: Lavelle Davis Jr. And Deshaun Perry. Jones is a former 441 00:25:14,720 --> 00:25:17,600 Speaker 1: member of the football team. Students are in morning. I 442 00:25:17,640 --> 00:25:19,320 Speaker 1: think we're all kind of coming to terms, so what's 443 00:25:19,359 --> 00:25:21,800 Speaker 1: going on and just trying to support each other. It's 444 00:25:21,800 --> 00:25:23,840 Speaker 1: to the best of our abilities at the moment. Jones 445 00:25:23,880 --> 00:25:26,200 Speaker 1: will face three counts of second degree murder and three 446 00:25:26,320 --> 00:25:28,800 Speaker 1: counts of using a handgun in the commission of a felony. 447 00:25:29,240 --> 00:25:32,679 Speaker 1: US officials say it is the largest climate transaction in history. 448 00:25:33,080 --> 00:25:36,840 Speaker 1: President Joe Biden and Indonesian President Joe Coobidoto will announce 449 00:25:36,960 --> 00:25:40,680 Speaker 1: a climate finance deal providing twenty billion dollars to help 450 00:25:40,720 --> 00:25:44,480 Speaker 1: the Southeast Asian country shift away from coal power. It 451 00:25:44,680 --> 00:25:48,200 Speaker 1: is not just inflation that's sending Thanksgiving dinner prices higher. 452 00:25:48,560 --> 00:25:52,000 Speaker 1: This year's outbreak of bird flu has also helped you 453 00:25:52,080 --> 00:25:54,920 Speaker 1: olda nearly twenty percent jump in turkey prices this year. 454 00:25:55,400 --> 00:25:59,320 Speaker 1: John McConaughey is owner of Double Brooke Farm in Hopewell, 455 00:25:59,400 --> 00:26:02,879 Speaker 1: New Jersey. Everything is more expensive, feat is more expensive, 456 00:26:03,080 --> 00:26:06,119 Speaker 1: labors and more expensive. All the inputs are more expensive, 457 00:26:06,280 --> 00:26:09,680 Speaker 1: So that obviously just stand translated into a more expensive 458 00:26:09,720 --> 00:26:13,760 Speaker 1: turkey Turkey farmer. John McConaughey Global News twenty four hours 459 00:26:13,840 --> 00:26:16,280 Speaker 1: a day on air and on Bloomberg Quick Take Power 460 00:26:16,359 --> 00:26:19,560 Speaker 1: by more than journalists, analysts, more than a D twenty countries. 461 00:26:19,920 --> 00:26:27,359 Speaker 1: Michael bar this is Bloomberg, Nathan, Thanks Michael, going up 462 00:26:27,400 --> 00:26:29,000 Speaker 1: to six thirty six on Wall Street time for the 463 00:26:29,000 --> 00:26:31,160 Speaker 1: Bloomberg sports up they brought to you by Try stay 464 00:26:31,200 --> 00:26:33,320 Speaker 1: out of here again. It's John step Show, all right, Nathan. 465 00:26:33,359 --> 00:26:36,480 Speaker 1: A Monday that upset Philadelphia was undefeated, favored by eleven 466 00:26:36,560 --> 00:26:39,280 Speaker 1: at home against Washington, but the Commanders held the ball 467 00:26:39,320 --> 00:26:42,440 Speaker 1: for more than forty minutes force four Philly turnovers. Eagles 468 00:26:42,480 --> 00:26:44,800 Speaker 1: had three fumbles in the fourth quarter in Washington one 469 00:26:45,200 --> 00:26:47,399 Speaker 1: thirty two to twenty one to get to five hundred, 470 00:26:47,440 --> 00:26:50,200 Speaker 1: while the Eagles dropped to eight and one, which means 471 00:26:50,240 --> 00:26:52,399 Speaker 1: the Giants, who still have two games left with Philly, 472 00:26:52,440 --> 00:26:54,560 Speaker 1: suddenly only one game at a first place. Their coach, 473 00:26:54,600 --> 00:26:57,600 Speaker 1: Brian day Ball asked yesterday about the playoffs, you have 474 00:26:57,680 --> 00:27:00,320 Speaker 1: to focus and stay in a moment um because it 475 00:27:00,359 --> 00:27:04,159 Speaker 1: really doesn't matter this. There's so much games to be played, 476 00:27:04,240 --> 00:27:07,840 Speaker 1: and um, you know it's it's good to be seven 477 00:27:07,920 --> 00:27:10,800 Speaker 1: and two, but again it'll home be really quick. Um, 478 00:27:11,560 --> 00:27:13,600 Speaker 1: when you start worrying about the wrong things, are thinking 479 00:27:13,600 --> 00:27:16,159 Speaker 1: about the wrong things to me in this business. Giants 480 00:27:16,200 --> 00:27:18,560 Speaker 1: Sunday home for Detroit. Big game for the Jets coming 481 00:27:18,560 --> 00:27:20,760 Speaker 1: off to buy They visit New England, who they have 482 00:27:20,960 --> 00:27:24,040 Speaker 1: lost through thirteen straight times. Islanders went for to at Ottawa. 483 00:27:24,119 --> 00:27:25,840 Speaker 1: The Devils are in Montreal tonight. They went for a 484 00:27:25,880 --> 00:27:28,560 Speaker 1: tenth win in a row. Nick started road trip at Utah. 485 00:27:28,640 --> 00:27:31,120 Speaker 1: The next play in Sacramento last night, the Warriors blew 486 00:27:31,160 --> 00:27:34,000 Speaker 1: out the Spurs by thirty seven. Warriors been two different 487 00:27:34,040 --> 00:27:36,679 Speaker 1: teams there six and one at home in Owen. Seven 488 00:27:36,960 --> 00:27:39,320 Speaker 1: on the road, Celtics, one of their seventh row there 489 00:27:39,320 --> 00:27:41,360 Speaker 1: now in first place in the East, ahead of Milwaukee, 490 00:27:41,440 --> 00:27:44,840 Speaker 1: who lost to Atlantic. Caroline O'Connor was working on Wall 491 00:27:44,880 --> 00:27:46,760 Speaker 1: Street when Derek Jeter hired her to work for the 492 00:27:46,800 --> 00:27:49,159 Speaker 1: Miami Marlins. Jeter has left the team, but O'Connor was 493 00:27:49,200 --> 00:27:52,840 Speaker 1: just promoted to team president. The Marlins also have baseball's 494 00:27:52,880 --> 00:27:56,720 Speaker 1: only female gm k Kinang rookies of the air Seattle's 495 00:27:56,800 --> 00:27:59,879 Speaker 1: Julio Rodriguez, Atlanta's Michael Harris. He wasn't called up in 496 00:27:59,920 --> 00:28:02,320 Speaker 1: the minors until late May. Buckshaw Walter expected to be 497 00:28:02,400 --> 00:28:05,919 Speaker 1: named today the NL Manager of the Year. John Convert 498 00:28:06,000 --> 00:28:09,040 Speaker 1: Sports map, Thank John sixty seven on Wall Street. Let's 499 00:28:09,080 --> 00:28:10,960 Speaker 1: take a look at some of the names moving in 500 00:28:11,040 --> 00:28:14,280 Speaker 1: the pre market now. Bloomberg Radio and TV Markets correspondent 501 00:28:14,600 --> 00:28:17,600 Speaker 1: Creedy Gufta is with us on a pretty big retail 502 00:28:17,720 --> 00:28:20,440 Speaker 1: earnings morning. Creedy, good morning. Yeah, we should start off 503 00:28:20,480 --> 00:28:23,119 Speaker 1: with the two of the big ones, Home Depo and Walmart. 504 00:28:23,240 --> 00:28:25,760 Speaker 1: This morning. Home Depot starting with h D, is your 505 00:28:25,800 --> 00:28:29,359 Speaker 1: taker reporting sales and profit that only exceeded estimates of 506 00:28:29,480 --> 00:28:32,439 Speaker 1: a really show that they are continuing to really bolster 507 00:28:32,560 --> 00:28:35,359 Speaker 1: some of their results. The home improvement retailer excuse Me 508 00:28:35,600 --> 00:28:38,600 Speaker 1: said that com sales rose four point three percent in 509 00:28:38,680 --> 00:28:42,040 Speaker 1: the quarter that ended October of thirty one. The estimate, 510 00:28:42,120 --> 00:28:45,440 Speaker 1: though Nathan, was only three percent, so some good numbers there. Well. 511 00:28:45,480 --> 00:28:48,000 Speaker 1: They are saying though that they're maintaining their guidance the 512 00:28:48,080 --> 00:28:51,360 Speaker 1: earnings per share likely to grow. Nevertheless, you are seeing 513 00:28:51,640 --> 00:28:54,200 Speaker 1: the shares declined this morning, which is interesting given the 514 00:28:54,240 --> 00:28:56,520 Speaker 1: market background. Features up best six tenths of one percent, 515 00:28:56,760 --> 00:28:59,840 Speaker 1: Home depot shares down two point three percent. And the 516 00:29:00,080 --> 00:29:02,480 Speaker 1: reason that they're saying this is this saying they're saying 517 00:29:02,520 --> 00:29:06,160 Speaker 1: the average consumer ticket when they're buying, say an item, 518 00:29:06,200 --> 00:29:08,200 Speaker 1: was about eighty nine dollars in the third quarter. That 519 00:29:08,360 --> 00:29:11,600 Speaker 1: is nine percent higher than a year earlier. So a 520 00:29:11,720 --> 00:29:14,080 Speaker 1: lot of this kind of price hikes that you're starting 521 00:29:14,120 --> 00:29:16,360 Speaker 1: to see, your price spending, your hiding heights starting to see, 522 00:29:16,680 --> 00:29:19,640 Speaker 1: is more driven by inflation. It's driving an increase in 523 00:29:19,720 --> 00:29:23,040 Speaker 1: unit sales, but the pace of the consumer price is 524 00:29:23,120 --> 00:29:25,800 Speaker 1: cooling down, so essentially the prices are making up for 525 00:29:25,840 --> 00:29:27,840 Speaker 1: their bottom line as opposed to the volume, and that's 526 00:29:27,880 --> 00:29:29,840 Speaker 1: really where you're starting to see the shares kind of 527 00:29:29,880 --> 00:29:31,440 Speaker 1: take a little bit of a dip down two point 528 00:29:31,520 --> 00:29:34,920 Speaker 1: four percent in the pre market, and Walmart hasn't come 529 00:29:34,920 --> 00:29:36,920 Speaker 1: out with their earnings just yet, but we are waiting 530 00:29:36,960 --> 00:29:39,560 Speaker 1: for that big kind of inflation call as well, because 531 00:29:39,560 --> 00:29:42,040 Speaker 1: of course Walmart. Um, I don't know if you shop 532 00:29:42,200 --> 00:29:46,440 Speaker 1: at Walmart, Nathan, but I was an avid Walmart shopper. 533 00:29:46,520 --> 00:29:48,040 Speaker 1: Was about time that it's away from my house of 534 00:29:48,240 --> 00:29:52,680 Speaker 1: growing up. But basically their entire concept is the price 535 00:29:52,760 --> 00:29:55,920 Speaker 1: match guarantees you cannot get h their everyday low prices 536 00:29:56,000 --> 00:29:59,640 Speaker 1: anywhere else. So what makes extremely hard to hike prices 537 00:29:59,720 --> 00:30:03,680 Speaker 1: and then inflationary environment and really make up for perhaps 538 00:30:03,920 --> 00:30:05,920 Speaker 1: lost volume in the way that home Depot is or 539 00:30:05,960 --> 00:30:08,400 Speaker 1: the way that other retailers are as well. Nevertheless, as 540 00:30:08,440 --> 00:30:11,080 Speaker 1: we get those numbers w m T S your taker, 541 00:30:11,120 --> 00:30:13,080 Speaker 1: those shares are down about eight tenths of one percent 542 00:30:13,440 --> 00:30:15,480 Speaker 1: in the pre market. Yeah, but as you mentioned, we 543 00:30:15,560 --> 00:30:18,680 Speaker 1: do have this pretty positive backdrop in the overall market, 544 00:30:18,960 --> 00:30:20,680 Speaker 1: and I gotta think a lot of that is being 545 00:30:20,800 --> 00:30:24,600 Speaker 1: driven by the positive sentiment we're getting out of US 546 00:30:24,760 --> 00:30:27,400 Speaker 1: China relations this morning. We absolutely are and look, we 547 00:30:27,480 --> 00:30:29,440 Speaker 1: love to look at the poster child Ali Baba for 548 00:30:29,480 --> 00:30:32,000 Speaker 1: all things China be a Ba shares up about eleven 549 00:30:32,080 --> 00:30:34,440 Speaker 1: percent in the pre market. Any kind of signs of 550 00:30:34,480 --> 00:30:37,080 Speaker 1: goodwill now on the geopolitical front, in addition to the 551 00:30:37,160 --> 00:30:40,120 Speaker 1: regulatory help that we got yesterday is also a good sign. 552 00:30:40,200 --> 00:30:42,640 Speaker 1: But it's not just Chinese shares. You gotta look at crypto. 553 00:30:42,680 --> 00:30:44,080 Speaker 1: It is kind of a risk cage as well. Coin 554 00:30:44,160 --> 00:30:46,400 Speaker 1: based can be a poster child for that. Following breakcoin 555 00:30:46,520 --> 00:30:49,080 Speaker 1: higher this morning. C o I n cheers up about 556 00:30:49,240 --> 00:30:51,880 Speaker 1: to have three percent in the pre market. Bloomberg Radio 557 00:30:51,960 --> 00:30:55,760 Speaker 1: and TV Markets correspondent and Walmart shopper Pretty Gupta with 558 00:30:55,920 --> 00:30:58,240 Speaker 1: us this morning, taking a look at stocks as a whole. 559 00:30:58,920 --> 00:31:01,480 Speaker 1: Futures are pointed hire. We have SMP futures up twenty 560 00:31:01,520 --> 00:31:03,720 Speaker 1: four points this morning, down future is up sixty nine 561 00:31:03,800 --> 00:31:07,160 Speaker 1: and nastack futures are higher by a hundred twenty five points. 562 00:31:07,240 --> 00:31:12,080 Speaker 1: Ten Your treasury up twelve thirty seconds for a yield 563 00:31:12,120 --> 00:31:16,160 Speaker 1: of three point zero percent on the benchmark ten year treasury. 564 00:31:16,240 --> 00:31:23,360 Speaker 1: Note you're listening to Bloomberg Dave Break Bloomberg Sports was 565 00:31:23,400 --> 00:31:25,560 Speaker 1: brought to you by Audie. Don't let someone else drive 566 00:31:25,640 --> 00:31:27,520 Speaker 1: off in the Audi model. You've always wanted to visit 567 00:31:27,560 --> 00:31:29,600 Speaker 1: your local price state autie dealer to get behind the 568 00:31:29,640 --> 00:31:32,280 Speaker 1: wheel of yours today, or visit autie Offers dot com 569 00:31:32,360 --> 00:31:39,800 Speaker 1: for more information, markets, headlines and breaking news twenty four 570 00:31:39,840 --> 00:31:42,840 Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business 571 00:31:42,920 --> 00:31:46,959 Speaker 1: at and at Bloomberg Quicktape. She's a Bloomberg Business Flash 572 00:31:52,880 --> 00:31:55,600 Speaker 1: and I'm Karen Moscow. Future is on the rise. This morning. 573 00:31:55,640 --> 00:31:57,400 Speaker 1: We go to the first Word Breaking News, dask for 574 00:31:57,440 --> 00:32:01,320 Speaker 1: today's morning call, and here's Bell Maloney, Bill good more ingy, 575 00:32:01,480 --> 00:32:03,560 Speaker 1: Good morning, Karen. That's right. US features are on the 576 00:32:03,600 --> 00:32:07,000 Speaker 1: green fter yesterday's weak close without futures up seventy six 577 00:32:07,080 --> 00:32:10,040 Speaker 1: points SIMES Game twenty six and as the futures are 578 00:32:10,120 --> 00:32:13,880 Speaker 1: higher by seven the US ten year at three point 579 00:32:14,000 --> 00:32:16,520 Speaker 1: eight percent, gold is up four, oil is in the red, 580 00:32:16,640 --> 00:32:19,560 Speaker 1: and bitcoin is trading higher by two point three percent. 581 00:32:19,920 --> 00:32:23,000 Speaker 1: Hong Kong rose four percent overnight, while up markets are 582 00:32:23,040 --> 00:32:25,560 Speaker 1: trading mixed this morning and back in the US. On 583 00:32:25,600 --> 00:32:29,440 Speaker 1: the economic front, Day thirty Empire Manufacturing and October pp 584 00:32:29,640 --> 00:32:33,120 Speaker 1: I Regarding earnings, Home Depot EPs beat estimates and look 585 00:32:33,160 --> 00:32:36,640 Speaker 1: for Walmart to report around seven am. In deal news 586 00:32:36,680 --> 00:32:38,840 Speaker 1: Credit Sweets will sell a big chunk of its secured 587 00:32:38,960 --> 00:32:42,480 Speaker 1: highest Products group to Apollo and another news Buffett took 588 00:32:42,480 --> 00:32:46,560 Speaker 1: a five billion dollar steak in Taiwan. Semi wrapping things up, 589 00:32:46,600 --> 00:32:49,600 Speaker 1: Madison Square Garden was cut to hold over at Jeffreys 590 00:32:50,120 --> 00:32:52,720 Speaker 1: Live from the first Baking News dostcom The Maloney Karen 591 00:32:53,040 --> 00:32:54,760 Speaker 1: al right, Bill, thank you to hear live breaking news 592 00:32:54,840 --> 00:32:57,520 Speaker 1: over your Bloomberg Times. Squawk on your terminal SQ you 593 00:32:57,680 --> 00:33:00,560 Speaker 1: a wu k, that's a Bloomberg business flash. Here's Michael 594 00:33:00,600 --> 00:33:02,720 Speaker 1: Barr with more on what's going on around the world. 595 00:33:02,840 --> 00:33:05,920 Speaker 1: Michael Karen, thank you very much. Denied. Former President Trump 596 00:33:05,960 --> 00:33:08,920 Speaker 1: plans to announce another run for the White House. Advisers 597 00:33:08,960 --> 00:33:11,520 Speaker 1: say the new campaign will likely be based in South 598 00:33:11,600 --> 00:33:15,800 Speaker 1: Florida instead of Washington. Senate majority leader Chuck Schumer tied 599 00:33:15,880 --> 00:33:18,600 Speaker 1: up a vote to start debate this week on legislation 600 00:33:18,640 --> 00:33:22,000 Speaker 1: protecting same sex marriage after the bill's sponsors agreed on 601 00:33:22,160 --> 00:33:25,480 Speaker 1: changes intended to draw enough Republican votes to win passage. 602 00:33:25,920 --> 00:33:29,240 Speaker 1: Schumer says the first procedural vote will be tomorrow. In 603 00:33:29,320 --> 00:33:32,320 Speaker 1: the NFL Undefeated no More, the Eagles lost to the 604 00:33:32,360 --> 00:33:35,840 Speaker 1: Commanders thirty one in the NBA, and the Celtics have 605 00:33:35,960 --> 00:33:39,880 Speaker 1: won seventh straight, beating the Thunder one twenty two. The 606 00:33:39,960 --> 00:33:44,040 Speaker 1: Warriors also one in the NHL. The Islanders one Global 607 00:33:44,080 --> 00:33:46,680 Speaker 1: news twenty four hours a day on air and on 608 00:33:46,800 --> 00:33:50,440 Speaker 1: Bloomberg Quicktake, powered by more than twenty seven under journalist 609 00:33:50,480 --> 00:33:53,280 Speaker 1: and analysts. More than I have your twenty countries Michael Barr, 610 00:33:53,320 --> 00:33:56,520 Speaker 1: and this is Bloomberg, Karen, Michael Barr, Thank you, sixty 611 00:33:56,600 --> 00:33:58,280 Speaker 1: nine on Wall Street and we turned to news and 612 00:33:58,400 --> 00:34:01,160 Speaker 1: science and technology now with Bloomberg. N j i T 613 00:34:01,400 --> 00:34:04,120 Speaker 1: STEM Report. It has brought to you by New Jersey 614 00:34:04,200 --> 00:34:06,920 Speaker 1: Institute of Technology. N j i T has joined with 615 00:34:07,080 --> 00:34:11,640 Speaker 1: McKenzie and Company to establish a McKenzie Digital Capabilities Center 616 00:34:11,920 --> 00:34:15,759 Speaker 1: specializing in biopharma manufacturing. Learn more at n j I 617 00:34:15,880 --> 00:34:19,440 Speaker 1: T dot e DU and here's just making news and science, Technology, 618 00:34:19,520 --> 00:34:22,480 Speaker 1: engineering and math. The U S and Indonesia will announce 619 00:34:22,520 --> 00:34:25,319 Speaker 1: the Climate Finance Deal, providing twenty billion dollars to help 620 00:34:25,400 --> 00:34:29,279 Speaker 1: Indonesia pivot away from coal power. The Biden administration calls 621 00:34:29,320 --> 00:34:33,160 Speaker 1: it the largest single climate finance transaction effort or ever. Rather, 622 00:34:33,400 --> 00:34:35,520 Speaker 1: it'll be outlined at the Group of twenty summit in 623 00:34:35,640 --> 00:34:38,800 Speaker 1: bali ft X is named a slate of independent directors 624 00:34:38,840 --> 00:34:41,880 Speaker 1: to oversee the collapse crypto Empire. It's also speaking of 625 00:34:41,960 --> 00:34:44,120 Speaker 1: the U. S Attorney's Office and dozens of US and 626 00:34:44,200 --> 00:34:48,879 Speaker 1: international regulatory agencies. Bankruptcy filings indicate there could be more 627 00:34:49,040 --> 00:34:51,840 Speaker 1: than a million creditors and now so it remains on 628 00:34:51,920 --> 00:34:54,520 Speaker 1: track for tomorrow's planned lift off of its new Moon 629 00:34:54,680 --> 00:34:58,799 Speaker 1: rocket after determining that hurricane damage provided little extra risk 630 00:34:58,880 --> 00:35:02,080 Speaker 1: to the test flight. Hurricane Nicole's high winds caused a 631 00:35:02,160 --> 00:35:05,239 Speaker 1: ten foot section of caulking to peel away near the 632 00:35:05,480 --> 00:35:08,080 Speaker 1: crew capsule at the top of the rocket last week. 633 00:35:08,520 --> 00:35:12,080 Speaker 1: Liftoff is scheduled for the early morning hours of Wednesday 634 00:35:12,239 --> 00:35:15,520 Speaker 1: from NASA's Kennedy Space Center, with test stummies rather than 635 00:35:15,560 --> 00:35:18,480 Speaker 1: astronauts on board. It's the first test flight for the 636 00:35:18,480 --> 00:35:21,399 Speaker 1: three hundred two foot rocket, the most powerful ever built 637 00:35:21,440 --> 00:35:24,000 Speaker 1: by NASA, and will attempt to send the capsule into 638 00:35:24,080 --> 00:35:27,840 Speaker 1: lunar orbit. That's a Bloomberg and j a t Stem report. Nathan, 639 00:35:28,040 --> 00:35:29,960 Speaker 1: all right, Karen, thank you. We are live from the 640 00:35:30,000 --> 00:35:32,920 Speaker 1: Bloomberg Interactive Brokers studios where it's coming up to six 641 00:35:33,360 --> 00:35:36,000 Speaker 1: one on Wall Street time. Now to check what's going 642 00:35:36,040 --> 00:35:37,840 Speaker 1: on in d C, where some of the top stories 643 00:35:37,880 --> 00:35:40,640 Speaker 1: include another rebuke for election deniers running in the mid 644 00:35:40,760 --> 00:35:43,880 Speaker 1: terms with carry Lakes loss in Arizona, the Senate to 645 00:35:44,120 --> 00:35:46,879 Speaker 1: take up a same sex marriage bill seeking Republican votes, 646 00:35:47,200 --> 00:35:49,840 Speaker 1: and President's Biden and She taking their biggest step in 647 00:35:49,920 --> 00:35:53,120 Speaker 1: years to avoid a U. S. China clash. Also making 648 00:35:53,160 --> 00:35:56,480 Speaker 1: news later on this evening, in fact, former President Donald 649 00:35:56,520 --> 00:36:01,840 Speaker 1: Trump defying allies and the midterm results with an ex announcement, 650 00:36:01,920 --> 00:36:04,719 Speaker 1: Let's bring in Joe Matthew Are Washington correspondent, host of 651 00:36:04,800 --> 00:36:08,359 Speaker 1: Sound on Here on Bloomberg Radio, Joe, good morning. We've 652 00:36:08,360 --> 00:36:11,880 Speaker 1: been playing comments from Citadel founder Ken Griffin this morning 653 00:36:12,000 --> 00:36:15,120 Speaker 1: saying former President Trump is a three time loser, needs 654 00:36:15,160 --> 00:36:20,399 Speaker 1: to step aside. But sounds like reverse psychology maybe doesn't 655 00:36:20,440 --> 00:36:22,800 Speaker 1: work for the former president. Why isn't that the truth? Like, 656 00:36:22,920 --> 00:36:25,600 Speaker 1: you know, the more I hear stories like this, it's like, boy, guys, 657 00:36:25,640 --> 00:36:27,839 Speaker 1: if you really don't want him to run, then stop 658 00:36:28,040 --> 00:36:31,160 Speaker 1: talking that that might be the biggest motivator he's got. 659 00:36:31,280 --> 00:36:35,040 Speaker 1: Calling him a three time loser. It's the same type 660 00:36:35,080 --> 00:36:37,960 Speaker 1: of messaging we hear from Democrats in this case, and 661 00:36:38,040 --> 00:36:39,800 Speaker 1: that makes him want to run. All the reporting that 662 00:36:39,880 --> 00:36:43,239 Speaker 1: we have done, by the way, does suggest that he 663 00:36:43,360 --> 00:36:47,399 Speaker 1: will make a full throated announcement to run for president tonight. 664 00:36:47,440 --> 00:36:49,480 Speaker 1: There have been a lot of Republicans asking him not 665 00:36:49,680 --> 00:36:52,399 Speaker 1: to do this until the runoff election for the Senate 666 00:36:52,520 --> 00:36:55,680 Speaker 1: race in Georgia, which is on December six. But it 667 00:36:55,760 --> 00:36:57,480 Speaker 1: looks like there's no stop in his train. You know. 668 00:36:57,560 --> 00:37:01,640 Speaker 1: We got the email from from the Trump world yesterday 669 00:37:01,719 --> 00:37:04,600 Speaker 1: with all the logistics for camera crews and news crews 670 00:37:04,600 --> 00:37:06,200 Speaker 1: who want to cover this thing, and it does have 671 00:37:06,400 --> 00:37:10,040 Speaker 1: all the trappings of a real campaign announcement. It will 672 00:37:10,040 --> 00:37:12,880 Speaker 1: happen at mar Lago. Yeah, and it's coming Joe on 673 00:37:13,000 --> 00:37:17,160 Speaker 1: the heels of yet another major loss for one of 674 00:37:17,560 --> 00:37:22,400 Speaker 1: former President Trump's UH endorsed candidates, perhaps the most vocal 675 00:37:22,440 --> 00:37:25,800 Speaker 1: election denier of all in UH Carry Lake in Arizona. 676 00:37:26,000 --> 00:37:28,120 Speaker 1: That's right, the name that's been floated as a potential 677 00:37:28,200 --> 00:37:31,640 Speaker 1: running mate for Trump and twenty four loses the race 678 00:37:31,760 --> 00:37:35,719 Speaker 1: for governor. This is someone who has been projecting allegations 679 00:37:35,800 --> 00:37:38,520 Speaker 1: of fraud since before the race was called. We didn't 680 00:37:38,560 --> 00:37:41,400 Speaker 1: know exactly how she would respond if this moment happened, 681 00:37:42,040 --> 00:37:44,520 Speaker 1: but indeed Katie Hobbs, who, by the way, is the 682 00:37:44,640 --> 00:37:48,000 Speaker 1: Secretary of State in Arizona and oversaw the election in 683 00:37:48,080 --> 00:37:51,680 Speaker 1: twenty And it's important to know that backdrop, that that 684 00:37:51,840 --> 00:37:56,000 Speaker 1: this was in fact a direct uh contest on what 685 00:37:56,160 --> 00:38:00,480 Speaker 1: happened in versus what we're hearing now. Carry Lake is 686 00:38:00,719 --> 00:38:03,919 Speaker 1: it did tweet last night, and it's it's been getting 687 00:38:04,000 --> 00:38:05,759 Speaker 1: quite a bit of talk because it's being called a 688 00:38:05,800 --> 00:38:08,759 Speaker 1: bit of a cell phone. Arizonans no b s when 689 00:38:08,800 --> 00:38:12,120 Speaker 1: they see it. That was at ten pm Eastern time. 690 00:38:12,200 --> 00:38:14,760 Speaker 1: We've heard nothing else from Carrie Lake. She is not conceded, 691 00:38:14,800 --> 00:38:18,520 Speaker 1: at least officially, despite the wink and a nod that 692 00:38:18,640 --> 00:38:21,640 Speaker 1: came with that that last night. Where do things stand 693 00:38:21,840 --> 00:38:26,239 Speaker 1: now with the Republican Party coming back to Washington? A 694 00:38:26,320 --> 00:38:28,400 Speaker 1: lot of these members of Congress is still at this 695 00:38:28,560 --> 00:38:32,239 Speaker 1: point not knowing at least fully whether they're going to 696 00:38:32,520 --> 00:38:35,200 Speaker 1: have a majority. I guess very close to it now, 697 00:38:35,360 --> 00:38:38,200 Speaker 1: but not officially they're just yet. That's true. It was 698 00:38:38,520 --> 00:38:40,719 Speaker 1: now one full week. It was a full week ago 699 00:38:40,800 --> 00:38:44,200 Speaker 1: today that Kevin McCarthy declared victory was around two o'clock 700 00:38:44,239 --> 00:38:46,320 Speaker 1: in the morning. And so when you wake up tomorrow, 701 00:38:46,400 --> 00:38:48,480 Speaker 1: Republicans will have a majority in the House. Well, that 702 00:38:48,600 --> 00:38:51,319 Speaker 1: still has not happened. It appears at will they are 703 00:38:51,480 --> 00:38:54,239 Speaker 1: one seat away right now based on our reporting and 704 00:38:54,320 --> 00:38:56,520 Speaker 1: the tally of races that have yet to be decided. 705 00:38:56,520 --> 00:38:58,719 Speaker 1: There's still a lot of votes, tens of thousands of 706 00:38:58,800 --> 00:39:01,560 Speaker 1: votes to count in califor Arnia. But it does look like, 707 00:39:01,719 --> 00:39:04,120 Speaker 1: you know, the odds for for Democrats to get the House, 708 00:39:04,200 --> 00:39:05,839 Speaker 1: to keep the House at this point, it would take 709 00:39:06,640 --> 00:39:09,680 Speaker 1: a small miracle. But look, it's also all be careful 710 00:39:09,719 --> 00:39:12,320 Speaker 1: what you ask for. If Kevin McCarthy or whoever owns 711 00:39:12,560 --> 00:39:17,000 Speaker 1: the gavel here becomes the speaker of this incredibly thin majority, 712 00:39:17,280 --> 00:39:20,200 Speaker 1: they're gonna have a very difficult couple of years ahead, 713 00:39:20,680 --> 00:39:24,360 Speaker 1: not only getting anything done, but just corralling the caucus, 714 00:39:24,480 --> 00:39:27,080 Speaker 1: you know, get hurting the cats. This is not a 715 00:39:27,200 --> 00:39:30,040 Speaker 1: Republican caucus that is in step with each other. The 716 00:39:30,080 --> 00:39:33,400 Speaker 1: Freedom Caucus is completely at odds with other members. And 717 00:39:33,440 --> 00:39:35,960 Speaker 1: there's going to be a fight for leadership here with 718 00:39:36,160 --> 00:39:38,520 Speaker 1: votes set for the next twenty four hours on this Yeah, 719 00:39:38,520 --> 00:39:42,040 Speaker 1: and and that's apart from the fight over the figurehead 720 00:39:42,200 --> 00:39:45,000 Speaker 1: leadership of the Republican Party now with former President Trump 721 00:39:45,040 --> 00:39:47,000 Speaker 1: expected to make this announcement, but there are a lot 722 00:39:47,160 --> 00:39:50,520 Speaker 1: of other potential candidates waiting in the wings. Well, that's true. 723 00:39:50,600 --> 00:39:52,400 Speaker 1: And you know, one of the big questions Nathan is 724 00:39:52,440 --> 00:39:55,239 Speaker 1: does this is this a field clearing event? We're gonna 725 00:39:55,280 --> 00:39:57,799 Speaker 1: really understand now if Donald Trump makes this official tonight, 726 00:39:57,840 --> 00:40:01,120 Speaker 1: exactly where he stands. You know, Tom Cotton announced earlier 727 00:40:01,200 --> 00:40:02,919 Speaker 1: he would not make a run for president. He didn't 728 00:40:02,920 --> 00:40:05,799 Speaker 1: even want to go there. But will Rhonda Santis sit 729 00:40:05,880 --> 00:40:08,239 Speaker 1: at home just because Donald Trump is running some of 730 00:40:08,280 --> 00:40:10,960 Speaker 1: the other Republicans who have been mentioned in the potential 731 00:40:11,040 --> 00:40:13,120 Speaker 1: race for twenty four that is yet to be seen, 732 00:40:13,200 --> 00:40:15,600 Speaker 1: And it's it's looking and feeling right now like no 733 00:40:16,160 --> 00:40:18,200 Speaker 1: that Donald Trump, in fact, if he decides to run, 734 00:40:18,239 --> 00:40:20,760 Speaker 1: could in fact have a primary to deal with instead 735 00:40:20,800 --> 00:40:23,520 Speaker 1: of just running straight home with with the nomination our 736 00:40:23,600 --> 00:40:25,440 Speaker 1: last minute or so, Joe, let's get caught up on 737 00:40:25,520 --> 00:40:30,160 Speaker 1: what's happening at the G twenty How my temperature would 738 00:40:30,200 --> 00:40:33,239 Speaker 1: you say? The porridge is now between the US and 739 00:40:33,400 --> 00:40:36,359 Speaker 1: China after the meeting with it's cooling off a little 740 00:40:36,400 --> 00:40:39,120 Speaker 1: bit if I'm following your your analogy here. But you know, 741 00:40:40,160 --> 00:40:42,400 Speaker 1: that was an important meeting for President Biden and President. 742 00:40:42,440 --> 00:40:44,480 Speaker 1: She to do exactly that, to lower the temperature a 743 00:40:44,520 --> 00:40:47,200 Speaker 1: little bit. They do seem to have indicated that our 744 00:40:47,239 --> 00:40:50,719 Speaker 1: relationship has bottomed, that those weeks that followed the visit 745 00:40:51,000 --> 00:40:54,200 Speaker 1: to Taiwan for from Nancy Pelosi were as bad as 746 00:40:54,280 --> 00:40:56,560 Speaker 1: it's going to get a lot of contacts were severed 747 00:40:56,600 --> 00:40:58,719 Speaker 1: at that point, and we're starting to reconnect things here. 748 00:40:58,760 --> 00:41:01,360 Speaker 1: Both leaders know that they cannot afford to have a 749 00:41:01,400 --> 00:41:05,680 Speaker 1: military conflict competition. You asked, conflict, No, The question is 750 00:41:05,719 --> 00:41:08,040 Speaker 1: what happens to our business relationship? You know, as we 751 00:41:08,200 --> 00:41:10,319 Speaker 1: as we sever ties when it comes to high tech 752 00:41:10,800 --> 00:41:14,239 Speaker 1: and we worry about trade with China. It's such an 753 00:41:14,280 --> 00:41:17,000 Speaker 1: important relationship with China as the factory of the world. 754 00:41:17,080 --> 00:41:19,319 Speaker 1: They make stuff that we don't want to make, then 755 00:41:19,360 --> 00:41:21,160 Speaker 1: they need us to buy it, and that's not going 756 00:41:21,200 --> 00:41:24,520 Speaker 1: to change anytime soon. These two leaders need to create 757 00:41:24,600 --> 00:41:27,920 Speaker 1: the path forward here to continue that relationship. All the while, 758 00:41:28,200 --> 00:41:30,360 Speaker 1: Vladimir Putin, who did not attend It's not at the 759 00:41:30,440 --> 00:41:33,560 Speaker 1: G twenty, is sulking at home in Moscow watching this 760 00:41:33,719 --> 00:41:36,920 Speaker 1: on TV and and pretty amazing how things have changed 761 00:41:37,120 --> 00:41:39,879 Speaker 1: since she and Putin met at the Olympics months ago 762 00:41:40,480 --> 00:41:43,120 Speaker 1: and appeared to kick off what was some new access 763 00:41:43,200 --> 00:41:45,200 Speaker 1: to go up against the United States. It's not feeling 764 00:41:45,280 --> 00:41:49,240 Speaker 1: like that now, just quickly. Is the war in Ukraine 765 00:41:49,719 --> 00:41:52,080 Speaker 1: U U S relations with Russia something that the U. 766 00:41:52,200 --> 00:41:54,800 Speaker 1: S And China can work work together on. That's a 767 00:41:54,840 --> 00:41:57,600 Speaker 1: good question. You know, Taiwan is one thing, Ukraine is another. 768 00:41:58,080 --> 00:42:00,279 Speaker 1: She's got his own relationship with Putin, but there was 769 00:42:00,360 --> 00:42:04,080 Speaker 1: an agreement that both countries would denounce the use of 770 00:42:04,160 --> 00:42:06,080 Speaker 1: nuclear weapons in Ukraine. And that's got to be a 771 00:42:06,120 --> 00:42:08,239 Speaker 1: message that hit home pretty hard for Vladimir Putin to 772 00:42:08,320 --> 00:42:10,759 Speaker 1: hear that through the news cycle. Great to speak with 773 00:42:10,840 --> 00:42:13,560 Speaker 1: you as always, Joe Matthew Are Washington correspondent, host of 774 00:42:13,640 --> 00:42:16,600 Speaker 1: Sound On. You can catch it weekdays five pm. Wall 775 00:42:16,680 --> 00:42:20,359 Speaker 1: Street Time on Bloomberg Radio, and by the way, when 776 00:42:20,400 --> 00:42:23,000 Speaker 1: you're in Washington, you can listen to Bloomberg Radio, Bloomberg 777 00:42:23,920 --> 00:42:26,839 Speaker 1: and one oh five point seven FM HD two joke, 778 00:42:26,920 --> 00:42:30,040 Speaker 1: Thanks again. Futures moving higher this morning. SMP futures up 779 00:42:30,080 --> 00:42:33,000 Speaker 1: twenty nine point, staff features up a hundred one NASTAC 780 00:42:33,080 --> 00:42:35,920 Speaker 1: futures up a hundred forty two points. As we wait 781 00:42:36,000 --> 00:42:39,839 Speaker 1: the latest read on inflation. Producer prices out of eight 782 00:42:39,880 --> 00:42:42,120 Speaker 1: thirty Wall Street time. We'll get you through it. Bloomberg 783 00:42:42,200 --> 00:42:46,520 Speaker 1: surveillance up next for Karen Moscow. I'm Nathan Hanker, and 784 00:42:46,680 --> 00:42:48,239 Speaker 1: this is Bloomberg