Speaker 1: Live from the Bloomberg Interactive Burger Studios. This is Bloomberg
Speaker 1: Daybreak for Tuesday, November two. Coming up this hour, a
Speaker 1: majority of G twenty nations are set to condemn Russia's
Speaker 1: war in Ukraine. Democrat Katie Hobbs, when's the governor's race
Speaker 1: in Arizona? Former President Trump prepares to announce another run
Speaker 1: for the White House. And we'll tell you which chip
Speaker 1: company we're in. Buffett is taking a stink in New York,
Speaker 1: Mayor Adams announce as a plan to provide housing for
Speaker 1: the homeless. Plus federal prosecutors say Rudy Giuliani when not
Speaker 1: face criminal charges over Ukraine. By Michael blarn Moore Ahead,
Speaker 1: I'm John Stash Hour and Sports Washington, Upset Philadelphia and
Speaker 1: Monday Night Football. I'll win for the Islanders. The nick
Speaker 1: Zonets are on the road tonight. That's all Strady Ahead
Speaker 1: on Bloomberg Daybreak on Bloomberg e Living Free on New York,
Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston,
Speaker 1: Bloomberg nine sixties and Francisco Syrius XAM one nineteen and
Speaker 1: around the world on Bloomberg Radio dot Com and via
Speaker 1: the Bloomberg Business and good morning up Nathan Hagar and
Speaker 1: I'm Karen Moscow, u s NO Index, Futures on the
Speaker 1: rise this morning. We're coming up to six o one
Speaker 1: on Wall Street, and we check the markets every fifteen
Speaker 1: minutes throughout the trading day. On Bloomberg. SNP Future is
Speaker 1: up thirty points this morning. Down futures up a hundred
Speaker 1: seventy one nasday futures up one D forty ten year
Speaker 1: Treasury up thirteen thirty seconds, the three point eight to
Speaker 1: zero percent. Nathan, Okay, Karen. We'll get more on the
Speaker 1: markets in a minute, but we begin this morning with
Speaker 1: the G twenty summit. A majority of nations is set
Speaker 1: to condemn Russia's war in Ukraine. That is, according to
Speaker 1: a draft statement seen by Bloomberg News. It represents a
Speaker 1: compromise design to get as many signatures as possible. We
Speaker 1: spoke with former UK Ambassador to Russia Tony Brenton about
Speaker 1: the statement. It doesn't directly Russia. It criticizes the war,
Speaker 1: but doesn't blame Russia for it. It's implicitly criticizes Western sanctions.
Speaker 1: If you look at the economic bits of it, it's
Speaker 1: all about disrupt of supply chains and hitting the global
Speaker 1: energy markets and so on, which war has something to
Speaker 1: do with it, But the real source of that disruption
Speaker 1: is of course Western sanctions, so it stays around various
Speaker 1: delicate points. Former UK Ambassador to Russia Tony Brenton says
Speaker 1: the statement is expertly crafted to get as many G
Speaker 1: twenty leader signatures as possible, well, Nathan. The agreement comes
Speaker 1: just hours after President Biden sat face to face with
Speaker 1: shej and Ping and an effort to ease tensions between
Speaker 1: the two countries. US Trade Chief Katherine Tye says the
Speaker 1: meeting sends a powerful message. You can see that there
Speaker 1: is a familiarity between them, a comfort between them in
Speaker 1: terms of relating to each other, and I think that
Speaker 1: that's a really powerful signal to the rest of the world.
Speaker 1: And US Trade Chief Katherine Tye says further discussions will
Speaker 1: continue meantime. Former Secretary of State Henry Kissinger is praising
Speaker 1: the talks as a step to ease tensions. I would say,
Speaker 1: at the picketting of a bridge building effort, which its passive,
Speaker 1: so long as we remember that if the bridge doesn't
Speaker 1: get billed, the precipiety both former Secretary Kissinger and US
Speaker 1: Trade Representative Time made the comments, said the Bloomberg New
Speaker 1: Economy Forum in Singapore, well back here in the US,
Speaker 1: Karen politics is the focus. It's another big win for
Speaker 1: Democrats as Arizona becomes the latest battleground to reject a
Speaker 1: prominent election to nine candidate. Amy Morris has the details
Speaker 1: from our Bloomberg newsroom. In Washington, Democrat Katie Hobbs was
Speaker 1: elected governor of Arizona, defeating Republican Kerry Lake, who embraced
Speaker 1: former President Trump's baseless claims of widespread fraud in the election.
Speaker 1: The race was called with about percent of the ballots
Speaker 1: counted and Hobbs leading Lake fifty point four percent to
Speaker 1: forty nine point six percent, less than twenty one tho votes.
Speaker 1: It is the latest instance of midterm election voters rejecting
Speaker 1: election deniers in battleground states including Michigan, Pennsylvania, Nevada, and Wisconsin.
Speaker 1: In Washington maybe more as Bloomberg Daybreak, Amy, thank you well.
Speaker 1: Kerry lakes loss in Arizona is unlikely to stop a
Speaker 1: quote very big announcement in Florida tonight. Former President Trump
Speaker 1: is said to kick off a third run for the
Speaker 1: White House at nine pm Wall Street time. That's despite
Speaker 1: a growing number of Republicans and donors urging him to reconsider.
Speaker 1: Among those the billionaire founder of Citadel, Ken Griffin. He lost.
Speaker 1: We lost Georgia because of his behavior in the Senate race.
Speaker 1: In that's a second loss. And then this year the
Speaker 1: Republicans lost the Senate because the Trump back Candidston Senate
Speaker 1: races were rejected by American voters. That's a three time loser.
Speaker 1: Ken Griffin made those comments, said the Bloomberg New Economy
Speaker 1: Forum in Singapore. Here more of the Citadel founders are
Speaker 1: marks coming up later in our program. Turning to the economy, now, Karen,
Speaker 1: we're getting more signs on policy from the FED. Another
Speaker 1: central bank official says it could start slowing the pace
Speaker 1: of rate hikes. We caught up with FED Vice chair
Speaker 1: while Brainerd, I think it will probably be appropriate um
Speaker 1: uh soon um to move to a flower pace of increases.
Speaker 1: But I think what's really important to emphasize we've done
Speaker 1: a lot, but we have additional work to do, both
Speaker 1: on raising rates and sustaining restraint to bring inflation down
Speaker 1: to two percent. Advice chir Law Brandon made those comments
Speaker 1: in an interview with Bloomberg News in Washington. Markets are
Speaker 1: currently pricing in a fifty basis point rate hike in December. Well, Nathan,
Speaker 1: the Fed and Wall Street get another inflation report to
Speaker 1: digest this morning. The producer price in next for October
Speaker 1: comes out before the opening bell on Bloomberg's Michael McKee
Speaker 1: has a preview. There's no direct link between CPI and
Speaker 1: PPI producer prices. There are middlemen in between. Nevertheless, the
Speaker 1: big drop in consumer prices suggests downside risk to pp
Speaker 1: I as well. In particular, economists are looking for a
Speaker 1: drop in the trade services category. Essentially, it reflects wholesaler
Speaker 1: and retailer margins. The huge pandemic demand for goods led
Speaker 1: to big margin expansions. Now the goods demand is coming down,
Speaker 1: margins should compress. Michael McKee, Bloomberg, Gabrie, all right, Mike,
Speaker 1: thanks for also getting earning from big retail this morning.
Speaker 1: Just got earning from Home Depot crossing the Bloomberg terminal
Speaker 1: with third quarter comparable sales beating the average analyst estimate.
Speaker 1: Later this morning we hear from Walmart. Meantime, Nathan, chip
Speaker 1: stocks are getting a liftist Morning on News, Berkshire Hathaway
Speaker 1: has taken a stake in Taiwan semiconductor manufacturing. We get
Speaker 1: more from Bloomberg's done Christner. For a long while, Berkshire
Speaker 1: chairman Warren Buffett shied away from the tech industry. He
Speaker 1: has spoken about not wanting to invest in businesses he
Speaker 1: didn't fully understand. In recent years, though, the stance has changed,
Speaker 1: and now a filing shows Berkshire acquired about sixty million
Speaker 1: a d r S and t SMC in the third quarter.
Speaker 1: Assuming the average quarterly price, the stake would have cost
Speaker 1: Buffett five point one billion dollars. T SMC has overtaken
Speaker 1: Intel in the cutting edge of chip making. It's also
Speaker 1: emerged as a vital player as the U. S and
Speaker 1: China clash over leadership in global technology industries. In New
Speaker 1: York on Dug Prisoner Bloomberg Daybreak, Thank you, Doug and
Speaker 1: Bloomberg Daybreaks brought to you by b n y Melon's
Speaker 1: Pershing learned why the world's most sophisticated wealth management and
Speaker 1: institutional firms rely on Pershing to help them improve profitability,
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Speaker 1: This is Bloomberg and at six though seven on Wall
Speaker 1: Street where thirty six degrees in Central Park. It's a
Speaker 1: half hour getting in through the hall and tunnel. This morning,
Speaker 1: Michael Bars here with more on what's going on once
Speaker 1: you get into New York and around the world. Good morning, Michael,
Speaker 1: Good morning Nathan. New York City officials unveiled a new
Speaker 1: plan to find homes for the homeless. Mayor Eric Adams
Speaker 1: as the new options include cutting down on the red
Speaker 1: tape and reducing requirements for vouchers and other programs. We
Speaker 1: are changing the city FIPPS UH rental assistance programs so
Speaker 1: that we can give vouchers to more families and make
Speaker 1: them easier to use. We're reducing the number of ours
Speaker 1: family these are required to work to become eligible, from
Speaker 1: thirty to fourteen hours per week. Mayor Adams went on
Speaker 1: to say it doesn't make sense for a person making
Speaker 1: minimum wage to be told they make too much money
Speaker 1: for city assistance. Federal prosecutors in Manhattan have declined to
Speaker 1: file criminal charges against Rudy Giuliani over his lobbying activities
Speaker 1: in Ukraine. Prosecutors had been investigating whether the former New
Speaker 1: York mayor should have registered as a foreign agent over
Speaker 1: his lobbying of the Trump administration to house then US
Speaker 1: Ambassador Marie Ivanovitch from Ukraine. Giuliani maintained he had done
Speaker 1: nothing wrong. Tech entrepreneur Brandon Williams has been elected to
Speaker 1: Congress in a district in central New York, becoming the
Speaker 1: eleventh Republican to win a house race this fall. AP
Speaker 1: finally called it late last night. Williams defeated Democrat Francis
Speaker 1: Canole in the contest to pick a successor to US
Speaker 1: Representative John Katko, a Republican who is retiring from office.
Speaker 1: Doctors in New Mexico are warning of what they are
Speaker 1: calling the threat of a triple Demmick Bloomberg's and Maxter
Speaker 1: reports that is the convergence of the flu rs V
Speaker 1: and COVID at the same time. Dr John Peterson is
Speaker 1: a pediatric specialist in Albuquerque. Is not uncommon for us
Speaker 1: to have a very significant respiratory viral season for for children.
Speaker 1: What's different about about this is that it's occurring very early.
Speaker 1: Peterson says. Hospitals nationwide are already seeing a large number
Speaker 1: of cases and infants with RSV and fear a very
Speaker 1: serious season overall. In San Francisco, I'm at Baxter, Bloomberg,
Speaker 1: Gay Break, President Joe Biden and Indonesian President Joco Widotto
Speaker 1: will announce the Climate Finance Deal, providing twenty billion dollars
Speaker 1: to help Indonesia pivot away from coal power. The deal
Speaker 1: broke it between the U S, Indonesia, and Japan, came
Speaker 1: on the sidelines of the G twenty summit in Belling.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, houred by more than twenty seven hundred
Speaker 1: journalists and analysts more than a hundred twenty countries. Michael Barr,
Speaker 1: this is Bloomberg, Nathan, Michael, thank you almost sixth ten
Speaker 1: on Wall Street time for the Bloomberg Sports Up. They
Speaker 1: brought to you by Tri State OUTI. There's John Stanshaw,
Speaker 1: all right, Nathan, fifty years ago. Miami Dolphins last NFL
Speaker 1: team to go an entire season undefeated. Nobody expected the
Speaker 1: Eagles to go twenty and oh. Last night didn't figured
Speaker 1: to be their first lost. An eleven point favorite at
Speaker 1: home with Washington has got all kinds of issues with
Speaker 1: their ownership, but the Commanders, after falling behind early dominated
Speaker 1: had the ball for more than forty minutes, forced four
Speaker 1: Philly turnovers, three of the fourth quarter, one right at
Speaker 1: the end after hurts Washington brigs three. He steps up,
Speaker 1: throws underneath, caught by Walker, thrown to Smith. You try
Speaker 1: to throw it backwards. He's hit my camp pearl that
Speaker 1: has picked up by Katy too Hill in the end zone.
Speaker 1: It's a defensive touchdown to end the game. Point Tendon
Speaker 1: undefeated season of the Eagles b I G Washington Philadelphia
Speaker 1: twenty one to the Commander. Now five and five, the
Speaker 1: Eagles are eight and one, the Giants only one game behind.
Speaker 1: Giants still left two games left with Philly also to
Speaker 1: with Washington Islanders four to one at Ottawa the Isles
Speaker 1: of one nine to the last eleven. The Devils have
Speaker 1: won all of their last night, and they played tonight
Speaker 1: in Montreal. Started a five game road trip for the
Speaker 1: next first up Utah. The Jazz surprisingly with ten wins,
Speaker 1: most in the West. Then that's still without Kyrie irving
Speaker 1: their trip to Todos tonight in Sacramento. Tragedy at the
Speaker 1: University of Virginia. Three members of the football team murdered
Speaker 1: on campus Sunday night, they had just played a game
Speaker 1: on Saturday. They had just returned home from a bus
Speaker 1: trip to Washington, d C. A one time member of
Speaker 1: the football team has been arrested. Parrots twenty one year
Speaker 1: old outfielders named rookies of the Year, Seattle's Julio Rodriguez,
Speaker 1: Atlanta's Michael Harris. They'll name the managers of the Year today.
Speaker 1: The Mets Bucks show Walter favored in the n album.
Speaker 1: Miami Marlins already have a female g M. They promoted
Speaker 1: New Jersey native Caroline O'Connor to be their team president.
Speaker 1: John stash Award, Blomberg spalls Nathan John Thank you. SMP
Speaker 1: Future is now up thirty points, South Futures up a
Speaker 1: hundred forty six and sert NASTAC futures actually ten year
Speaker 1: treasuries up sixteen thirty seconds. The yield three point seven
Speaker 1: nine percent. This is Bloomberg. Bloomberg Sports was brought to
Speaker 1: you by Audie. Don't let someone else drive off in
Speaker 1: the autie model. You've always wanted to visit your local
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Speaker 1: Markets headlines and breaking news twenty four hours a day
Speaker 1: at Bloomberg dot Com, the Bloomberg Business at and at
Speaker 1: Bloomberg Quick Tape. He's a Bloomberg Business Flash and I'm
Speaker 1: Cameron Moscow watching shares of Home Depot. They're down more
Speaker 1: than two percent in early trading. It did report same
Speaker 1: store sales for the third quarter that beat the average
Speaker 1: analysts estimate and maintained its forecast for the year, though
Speaker 1: and that missed estimates. Futures are higher. S and P
Speaker 1: futures up twenty eight points down features of a hundred
Speaker 1: four and NAS day futures up one hundred thirties seven.
Speaker 1: The Hank Sing in Hong Kong jump four point one
Speaker 1: for sent the ten year treasury up fifteen thirty seconds.
Speaker 1: He had three point seven nine and a yield on
Speaker 1: the two year four point three. And as a Bloomberg
Speaker 1: Business Flash. Now here's Michael Barr with more on what's
Speaker 1: going on around the world. Michael Karen, thank you very much.
Speaker 1: Former President Donald Trump has said to be preparing to
Speaker 1: launch another campaign for the White House with an announcement tonight.
Speaker 1: Some Republicans are urging him to delay the announcement, blaming
Speaker 1: Trump for far right candidates losing in the mid term elections,
Speaker 1: Democrat Katie Hobbs was elected governor of Arizona. Hobbs defeated
Speaker 1: Republican Kerry Lake, who embraced former President Trump's claims of
Speaker 1: widespread fraud in the election. In the NFL, Undefeated no More.
Speaker 1: The Eagles lost to the Commander's thirty two twenty one
Speaker 1: in the NBA, and the Celtics have won seventh straight,
Speaker 1: beating the Thunder one twenty two. The Warriors won in
Speaker 1: the NHL. The Islanders won Global news twenty four hours
Speaker 1: a day on air and on Bloomberg Quicktake, powered by
Speaker 1: more than twenty seven hundred journalists and analysts more than
Speaker 1: a hundred twenty trees. Michael var and this is Bloomberg.
Speaker 1: Thanks Michael. It's six nineteen on Wall Street Live from
Speaker 1: the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak, and
Speaker 1: we want to bring you some conversation from the Bloomberg
Speaker 1: New Economy Forum in Singapore, this time with Citadel founder
Speaker 1: Ken Griffin. In an interview with Bloomberg's Eric Shatzker, Griffin
Speaker 1: said he is skeptical the US can avoid a recession
Speaker 1: next year, though he also said it would be a
Speaker 1: dire error for the Federal Reserve to change course on
Speaker 1: monetary policy at this point. The Republican donor also discussed
Speaker 1: President Trump's potential third run for the White House. Let's
Speaker 1: listen in to that conversation. Now. The question the Republican
Speaker 1: Party is wrestling with is should it unify, unite if
Speaker 1: you will behind the Santis now or should it let
Speaker 1: the Trump the Santis rival lee play out, possibly, you know,
Speaker 1: in in a battle for the soul of the party
Speaker 1: that potentially puts it at a disadvantage relative to the
Speaker 1: Democrats two years from now. So there's we all had
Speaker 1: to sort of fantasy that these decisions are made by
Speaker 1: people in his back rooms. I haven't found that room,
Speaker 1: and I don't know those people. So in the United States,
Speaker 1: in both parties, the people that are running for the
Speaker 1: office the president, they're on a mission on their own
Speaker 1: and they're gonna do what they're gonna do. The process
Speaker 1: has to play out. The process has to play out now.
Speaker 1: I really do hope that President Trump sees the ready
Speaker 1: on the wall. He lost, we lost Georgia because of
Speaker 1: his behavior in the Senate race. In that's the second loss.
Speaker 1: And then this year the Republicans lost the Senate because
Speaker 1: the Trump backed candidates in the Senate races were rejected
Speaker 1: by American voters. That's a three time loser. And I'd
Speaker 1: like to think that the Republican Party is ready to
Speaker 1: move on from somebody who has been for this party
Speaker 1: a three time loser. And of course it's so important
Speaker 1: to talk about the Federal Reserve. It sets the risk
Speaker 1: free rate for the rest of the world. And of
Speaker 1: course his career add unbelievable complications with the strength of
Speaker 1: the dollar for emerging markets. Some fit officials can say
Speaker 1: the time has already come to back off. I could
Speaker 1: cite Charles Evans, I could cite Leo Branard, who didn't
Speaker 1: say it's time now, but it will be time soon.
Speaker 1: Are we there yet? It's sort of like saying you
Speaker 1: go to your doctor you've got a bacterial infection, and
Speaker 1: he gives you ten pills to take, and you stopped
Speaker 1: taking him after pill number seven, and then you relapse
Speaker 1: a few days later, Like it's not yet time for
Speaker 1: us to change course on our monetary policy. We want
Speaker 1: to see that we put the inflation genie back in
Speaker 1: the bottle we could. We've endured a ton of pain
Speaker 1: in getting to this point. The housing market is definitely
Speaker 1: under duress, Durable good sales are under duress. High ticket
Speaker 1: items are just out of reach consumers today. But we
Speaker 1: haven't gotten a job done. And to take the foot
Speaker 1: off the break right now and not finish the job,
Speaker 1: I think it's the absolute worst mistake the FED could
Speaker 1: possibly make. Why what what happens if they again back
Speaker 1: off too early? If if if you take only seven
Speaker 1: pills instead of ten, what are the consequences for the
Speaker 1: U s economy and for the global economy. Furthermore, so,
Speaker 1: the biggest concern is you on anchor inflation expectations. So
Speaker 1: right now the American public believes, and not as much
Speaker 1: as we'd like, but the American public believes the FED
Speaker 1: is going to get the job done. If we take
Speaker 1: the foot off the break, we don't finish the course
Speaker 1: of antibiotics, and inflation starts to flare back up, the
Speaker 1: FED will have lost credibility. If a FED loses credibility
Speaker 1: and inflation expectations on anchor, then the amount by which
Speaker 1: will need to raise rates and deter economic growth will
Speaker 1: be a much bigger bill to pay, and we just
Speaker 1: we shouldn't put ourselves a position to pay that bill.
Speaker 1: We should get the job done. Now, we think that
Speaker 1: the one of the biggest drivers of consumer prices, which
Speaker 1: is rent, has reached near term peak. The shift from
Speaker 1: a goods based economy to a service based economies going
Speaker 1: to create this this depreciation and pricing of goods, which
Speaker 1: of course will will help bring inflation down. So we
Speaker 1: think the inflationary path is pete. We think by the
Speaker 1: end of our our our central view as inflation will
Speaker 1: be back to roughly a load of mid twos range,
Speaker 1: which is a dramatic change from where we are today.
Speaker 1: What I want to know from you, Ken is what
Speaker 1: do you make of the spectacular collapse of Sam Bankman
Speaker 1: Freed's f t X. Okay, so big picture, the crypto
Speaker 1: market cap today is a fraction of what it was
Speaker 1: when we first started talking about it. So crypto is
Speaker 1: not It was three trillion and now it's well under
Speaker 1: a billions, which a big part of that stable coins, right,
Speaker 1: So you you really moved back into world of Bitcoin
Speaker 1: and ethereum is the two dominant cryptocurrencies, both which actually
Speaker 1: happened to be c c regulated. Look, f t X
Speaker 1: is one of these absolute travesties in the history of
Speaker 1: financial markets. I mean people will lose billions of dollars. People,
Speaker 1: people are gonna lose billions of dollars, and that undermines
Speaker 1: trust in all financial markets. And that was Citadel founder
Speaker 1: Ken Griffin speaking at the Bloomberg New Economy Forum in Singapore.
Speaker 1: You can catch the full interview on Bloomberg dot com
Speaker 1: and on the Bloomberg terminal. Looking ahead to the market,
Speaker 1: open futures are pointed higher. We've got SMP futures right
Speaker 1: now up twenty six points. Now futures up eight seven
Speaker 1: and NASTACK futures are higher by a hundred thirty one
Speaker 1: points ten. Your treasuries up fourteen thirty seconds. The yield
Speaker 1: three point zero percent. Yield on the two year four
Speaker 1: point three four Quick check a bitcoin, it's up two
Speaker 1: point two on the session at sixteen thousand, seven forty dollars.
Speaker 1: You're listening to Bloomberg Day b Bloomberg eleven three oh Weather.
Speaker 1: Late day showers today with a high in the upper forties,
Speaker 1: rain of land early tomorrow, turn partly sunny, low fifties
Speaker 1: for highs upper forties again Thursday, Right now thirty six
Speaker 1: in Central Park, broadcasting live from the Bloomberg Interactive Broker
Speaker 1: Studio in New York, Bloomberg E Living Freedom to Washington,
Speaker 1: d C, Bloomberg to Boston, Bloomberg one oh six one
Speaker 1: does San Francisco, Bloomberg M sixty to the Country, Sirius
Speaker 1: xm Cho one nine team, and around the globe the
Speaker 1: Bloomberg business in Bloomberg Radio dot com. This is Bloomberg
Speaker 1: Day Break six thirty on Wall Street. Good morning, I'm
Speaker 1: Nathan Hager and I'm Karen Moscow. We are just about
Speaker 1: three hours away from the open of US trade. Ain't
Speaker 1: time for the five things that you need to notice?
Speaker 1: Start your day? To you by Interactive Brokers I b
Speaker 1: k R. Event Trader offers a new way to trade
Speaker 1: futures US event contracts. To trade your opinion on or
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Speaker 1: Trader dot Interactive Brokers dot com. At first, a majority
Speaker 1: of nations are sent to condemn Russia's war in Ukraine
Speaker 1: at the G twenty summit in Indonesia, according to a
Speaker 1: draft to joint statements seen by Bloomberg News. We talked
Speaker 1: about it with former UK Ambassador to Russia Tony Brennon.
Speaker 1: What I've seen is is actually been rather expertly drafted
Speaker 1: to share a dedicate way around all sorts of people's obstacles.
Speaker 1: It doesn't directly criticize Russia. It criticizes the war, but
Speaker 1: not doesn't blame Russia for it. Former UK Ambassador to
Speaker 1: Russia Tony Brennon said the draft represents a compromise to
Speaker 1: get as many signatures as possible. Also at the G
Speaker 1: twenty Karen, President Biden announced the Pact of Global Infrastructure Investments.
Speaker 1: We're at an inflection point. Investments we make today will
Speaker 1: have far reaching impact on the world for generations to
Speaker 1: President Biden spoke after yesterday's face to face meeting with
Speaker 1: Chinese leader Shi Jin Paying. US Trade Chief Katherine Tye
Speaker 1: says it was an open discussion designed to ease tensions
Speaker 1: between the nations. He raised with President She something that
Speaker 1: we have raised consistently US concerns about the negative economic
Speaker 1: impacts of China's non market economic policies. US Trade Chief
Speaker 1: Katherine Tye spoke from the Bloomberg New Economy Forum in
Speaker 1: Singapore to Politics at Home now Nathan another blow to
Speaker 1: former President Trump. Trump ally and election denier carry Lake
Speaker 1: lost the Arizona governor's race to Democrat Katie Hobbs. The
Speaker 1: former president is making a very big announcement in nine
Speaker 1: PM tonight, likely a third White House bid, but many
Speaker 1: Republicans and donors are asking him to reconsider, including Citadel
Speaker 1: founder Ken Griffin. I'd like to think that the Republican
Speaker 1: Party is ready to move on from somebody who's been
Speaker 1: for this party, a three time loser. Ken Griffin made
Speaker 1: the comments at the Bloomberg New Economy Forum in Singapore
Speaker 1: to the Economy Now, Karen fed Vice chair law brand
Speaker 1: It tells Bloomberg the Central Make should consider the pace
Speaker 1: of its rate hike path moving forward. We have additional
Speaker 1: work to do both on raising rates and sustaining restraint
Speaker 1: to bring inflation down to Vice chare Lyle Brandon and
Speaker 1: the rest of the federal have another inflation report to
Speaker 1: digest this morning. October's Producer Price Index comes out before
Speaker 1: the bell, and that's the five things that you need
Speaker 1: to notice start your day. Brought to you by Interactive
Speaker 1: Brokers again, Futures on the rise this morning and straight
Speaker 1: ahead we have your latest local headlines, plus to check
Speaker 1: of sports and this is Bloomberg. Thanks Karen sixty three.
Speaker 1: On Wall Street where thirty six degrees in Central Park.
Speaker 1: We gotta crash on the southbound Harlem River Drive hundred street.
Speaker 1: Details coming up in traffic. First Michael Barr with what
Speaker 1: else is going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. New York City Mayor
Speaker 1: Rudy Giuliani will not face criminal charges over his interactions
Speaker 1: with Ukrainian figures in the up to the presidential election.
Speaker 1: Federal prosecutors in the U. S. Attorney's Office in Manhattan
Speaker 1: said they made the decision after reviewing electronic evidence gathered
Speaker 1: in raids on the former mayor's home and law office
Speaker 1: in April of one, ju Leani tweeted that it was
Speaker 1: a complete and total vindication. New York City officials unveiled
Speaker 1: a new plan to find homes for the homeless. Mayor
Speaker 1: Adams says the new options include cutting down on the
Speaker 1: red tape and reducing requirements for vouchers and other programs.
Speaker 1: It just doesn't make sense when you think about it.
Speaker 1: Um opposed to making minimum wage un told they make
Speaker 1: too much money for city. Felt fels minimum wage, but
Speaker 1: they're saying you make too much money. It just doesn't
Speaker 1: add up. And what it does add up to is
Speaker 1: a crisis and housing crisis and which changing the mayor.
Speaker 1: Adams says the new plan would in some cases skip
Speaker 1: temporary housing shelters altogether. There has been shock and sadness
Speaker 1: on the campus of the University of Virginia, whares Orton
Speaker 1: is accused of killing three members of the football team.
Speaker 1: The players were returning from a class trip when authorities
Speaker 1: say Christopher Darnell Jones Jr. Opened fire, killing Devin Chandler,
Speaker 1: Lavelle Davis Jr. And Deshaun Perry. Jones is a former
Speaker 1: member of the football team. Students are in morning. I
Speaker 1: think we're all kind of coming to terms, so what's
Speaker 1: going on and just trying to support each other. It's
Speaker 1: to the best of our abilities at the moment. Jones
Speaker 1: will face three counts of second degree murder and three
Speaker 1: counts of using a handgun in the commission of a felony.
Speaker 1: US officials say it is the largest climate transaction in history.
Speaker 1: President Joe Biden and Indonesian President Joe Coobidoto will announce
Speaker 1: a climate finance deal providing twenty billion dollars to help
Speaker 1: the Southeast Asian country shift away from coal power. It
Speaker 1: is not just inflation that's sending Thanksgiving dinner prices higher.
Speaker 1: This year's outbreak of bird flu has also helped you
Speaker 1: olda nearly twenty percent jump in turkey prices this year.
Speaker 1: John McConaughey is owner of Double Brooke Farm in Hopewell,
Speaker 1: New Jersey. Everything is more expensive, feat is more expensive,
Speaker 1: labors and more expensive. All the inputs are more expensive,
Speaker 1: So that obviously just stand translated into a more expensive
Speaker 1: turkey Turkey farmer. John McConaughey Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quick Take Power
Speaker 1: by more than journalists, analysts, more than a D twenty countries.
Speaker 1: Michael bar this is Bloomberg, Nathan, Thanks Michael, going up
Speaker 1: to six thirty six on Wall Street time for the
Speaker 1: Bloomberg sports up they brought to you by Try stay
Speaker 1: out of here again. It's John step Show, all right, Nathan.
Speaker 1: A Monday that upset Philadelphia was undefeated, favored by eleven
Speaker 1: at home against Washington, but the Commanders held the ball
Speaker 1: for more than forty minutes force four Philly turnovers. Eagles
Speaker 1: had three fumbles in the fourth quarter in Washington one
Speaker 1: thirty two to twenty one to get to five hundred,
Speaker 1: while the Eagles dropped to eight and one, which means
Speaker 1: the Giants, who still have two games left with Philly,
Speaker 1: suddenly only one game at a first place. Their coach,
Speaker 1: Brian day Ball asked yesterday about the playoffs, you have
Speaker 1: to focus and stay in a moment um because it
Speaker 1: really doesn't matter this. There's so much games to be played,
Speaker 1: and um, you know it's it's good to be seven
Speaker 1: and two, but again it'll home be really quick. Um,
Speaker 1: when you start worrying about the wrong things, are thinking
Speaker 1: about the wrong things to me in this business. Giants
Speaker 1: Sunday home for Detroit. Big game for the Jets coming
Speaker 1: off to buy They visit New England, who they have
Speaker 1: lost through thirteen straight times. Islanders went for to at Ottawa.
Speaker 1: The Devils are in Montreal tonight. They went for a
Speaker 1: tenth win in a row. Nick started road trip at Utah.
Speaker 1: The next play in Sacramento last night, the Warriors blew
Speaker 1: out the Spurs by thirty seven. Warriors been two different
Speaker 1: teams there six and one at home in Owen. Seven
Speaker 1: on the road, Celtics, one of their seventh row there
Speaker 1: now in first place in the East, ahead of Milwaukee,
Speaker 1: who lost to Atlantic. Caroline O'Connor was working on Wall
Speaker 1: Street when Derek Jeter hired her to work for the
Speaker 1: Miami Marlins. Jeter has left the team, but O'Connor was
Speaker 1: just promoted to team president. The Marlins also have baseball's
Speaker 1: only female gm k Kinang rookies of the air Seattle's
Speaker 1: Julio Rodriguez, Atlanta's Michael Harris. He wasn't called up in
Speaker 1: the minors until late May. Buckshaw Walter expected to be
Speaker 1: named today the NL Manager of the Year. John Convert
Speaker 1: Sports map, Thank John sixty seven on Wall Street. Let's
Speaker 1: take a look at some of the names moving in
Speaker 1: the pre market now. Bloomberg Radio and TV Markets correspondent
Speaker 1: Creedy Gufta is with us on a pretty big retail
Speaker 1: earnings morning. Creedy, good morning. Yeah, we should start off
Speaker 1: with the two of the big ones, Home Depo and Walmart.
Speaker 1: This morning. Home Depot starting with h D, is your
Speaker 1: taker reporting sales and profit that only exceeded estimates of
Speaker 1: a really show that they are continuing to really bolster
Speaker 1: some of their results. The home improvement retailer excuse Me
Speaker 1: said that com sales rose four point three percent in
Speaker 1: the quarter that ended October of thirty one. The estimate,
Speaker 1: though Nathan, was only three percent, so some good numbers there. Well.
Speaker 1: They are saying though that they're maintaining their guidance the
Speaker 1: earnings per share likely to grow. Nevertheless, you are seeing
Speaker 1: the shares declined this morning, which is interesting given the
Speaker 1: market background. Features up best six tenths of one percent,
Speaker 1: Home depot shares down two point three percent. And the
Speaker 1: reason that they're saying this is this saying they're saying
Speaker 1: the average consumer ticket when they're buying, say an item,
Speaker 1: was about eighty nine dollars in the third quarter. That
Speaker 1: is nine percent higher than a year earlier. So a
Speaker 1: lot of this kind of price hikes that you're starting
Speaker 1: to see, your price spending, your hiding heights starting to see,
Speaker 1: is more driven by inflation. It's driving an increase in
Speaker 1: unit sales, but the pace of the consumer price is
Speaker 1: cooling down, so essentially the prices are making up for
Speaker 1: their bottom line as opposed to the volume, and that's
Speaker 1: really where you're starting to see the shares kind of
Speaker 1: take a little bit of a dip down two point
Speaker 1: four percent in the pre market, and Walmart hasn't come
Speaker 1: out with their earnings just yet, but we are waiting
Speaker 1: for that big kind of inflation call as well, because
Speaker 1: of course Walmart. Um, I don't know if you shop
Speaker 1: at Walmart, Nathan, but I was an avid Walmart shopper.
Speaker 1: Was about time that it's away from my house of
Speaker 1: growing up. But basically their entire concept is the price
Speaker 1: match guarantees you cannot get h their everyday low prices
Speaker 1: anywhere else. So what makes extremely hard to hike prices
Speaker 1: and then inflationary environment and really make up for perhaps
Speaker 1: lost volume in the way that home Depot is or
Speaker 1: the way that other retailers are as well. Nevertheless, as
Speaker 1: we get those numbers w m T S your taker,
Speaker 1: those shares are down about eight tenths of one percent
Speaker 1: in the pre market. Yeah, but as you mentioned, we
Speaker 1: do have this pretty positive backdrop in the overall market,
Speaker 1: and I gotta think a lot of that is being
Speaker 1: driven by the positive sentiment we're getting out of US
Speaker 1: China relations this morning. We absolutely are and look, we
Speaker 1: love to look at the poster child Ali Baba for
Speaker 1: all things China be a Ba shares up about eleven
Speaker 1: percent in the pre market. Any kind of signs of
Speaker 1: goodwill now on the geopolitical front, in addition to the
Speaker 1: regulatory help that we got yesterday is also a good sign.
Speaker 1: But it's not just Chinese shares. You gotta look at crypto.
Speaker 1: It is kind of a risk cage as well. Coin
Speaker 1: based can be a poster child for that. Following breakcoin
Speaker 1: higher this morning. C o I n cheers up about
Speaker 1: to have three percent in the pre market. Bloomberg Radio
Speaker 1: and TV Markets correspondent and Walmart shopper Pretty Gupta with
Speaker 1: us this morning, taking a look at stocks as a whole.
Speaker 1: Futures are pointed hire. We have SMP futures up twenty
Speaker 1: four points this morning, down future is up sixty nine
Speaker 1: and nastack futures are higher by a hundred twenty five points.
Speaker 1: Ten Your treasury up twelve thirty seconds for a yield
Speaker 1: of three point zero percent on the benchmark ten year treasury.
Speaker 1: Note you're listening to Bloomberg Dave Break Bloomberg Sports was
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Speaker 1: for more information, markets, headlines and breaking news twenty four
Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business
Speaker 1: at and at Bloomberg Quicktape. She's a Bloomberg Business Flash
Speaker 1: and I'm Karen Moscow. Future is on the rise. This morning.
Speaker 1: We go to the first Word Breaking News, dask for
Speaker 1: today's morning call, and here's Bell Maloney, Bill good more ingy,
Speaker 1: Good morning, Karen. That's right. US features are on the
Speaker 1: green fter yesterday's weak close without futures up seventy six
Speaker 1: points SIMES Game twenty six and as the futures are
Speaker 1: higher by seven the US ten year at three point
Speaker 1: eight percent, gold is up four, oil is in the red,
Speaker 1: and bitcoin is trading higher by two point three percent.
Speaker 1: Hong Kong rose four percent overnight, while up markets are
Speaker 1: trading mixed this morning and back in the US. On
Speaker 1: the economic front, Day thirty Empire Manufacturing and October pp
Speaker 1: I Regarding earnings, Home Depot EPs beat estimates and look
Speaker 1: for Walmart to report around seven am. In deal news
Speaker 1: Credit Sweets will sell a big chunk of its secured
Speaker 1: highest Products group to Apollo and another news Buffett took
Speaker 1: a five billion dollar steak in Taiwan. Semi wrapping things up,
Speaker 1: Madison Square Garden was cut to hold over at Jeffreys
Speaker 1: Live from the first Baking News dostcom The Maloney Karen
Speaker 1: al right, Bill, thank you to hear live breaking news
Speaker 1: over your Bloomberg Times. Squawk on your terminal SQ you
Speaker 1: a wu k, that's a Bloomberg business flash. Here's Michael
Speaker 1: Barr with more on what's going on around the world.
Speaker 1: Michael Karen, thank you very much. Denied. Former President Trump
Speaker 1: plans to announce another run for the White House. Advisers
Speaker 1: say the new campaign will likely be based in South
Speaker 1: Florida instead of Washington. Senate majority leader Chuck Schumer tied
Speaker 1: up a vote to start debate this week on legislation
Speaker 1: protecting same sex marriage after the bill's sponsors agreed on
Speaker 1: changes intended to draw enough Republican votes to win passage.
Speaker 1: Schumer says the first procedural vote will be tomorrow. In
Speaker 1: the NFL Undefeated no More, the Eagles lost to the
Speaker 1: Commanders thirty one in the NBA, and the Celtics have
Speaker 1: won seventh straight, beating the Thunder one twenty two. The
Speaker 1: Warriors also one in the NHL. The Islanders one Global
Speaker 1: news twenty four hours a day on air and on
Speaker 1: Bloomberg Quicktake, powered by more than twenty seven under journalist
Speaker 1: and analysts. More than I have your twenty countries Michael Barr,
Speaker 1: and this is Bloomberg, Karen, Michael Barr, Thank you, sixty
Speaker 1: nine on Wall Street and we turned to news and
Speaker 1: science and technology now with Bloomberg. N j i T
Speaker 1: STEM Report. It has brought to you by New Jersey
Speaker 1: Institute of Technology. N j i T has joined with
Speaker 1: McKenzie and Company to establish a McKenzie Digital Capabilities Center
Speaker 1: specializing in biopharma manufacturing. Learn more at n j I
Speaker 1: T dot e DU and here's just making news and science, Technology,
Speaker 1: engineering and math. The U S and Indonesia will announce
Speaker 1: the Climate Finance Deal, providing twenty billion dollars to help
Speaker 1: Indonesia pivot away from coal power. The Biden administration calls
Speaker 1: it the largest single climate finance transaction effort or ever. Rather,
Speaker 1: it'll be outlined at the Group of twenty summit in
Speaker 1: bali ft X is named a slate of independent directors
Speaker 1: to oversee the collapse crypto Empire. It's also speaking of
Speaker 1: the U. S Attorney's Office and dozens of US and
Speaker 1: international regulatory agencies. Bankruptcy filings indicate there could be more
Speaker 1: than a million creditors and now so it remains on
Speaker 1: track for tomorrow's planned lift off of its new Moon
Speaker 1: rocket after determining that hurricane damage provided little extra risk
Speaker 1: to the test flight. Hurricane Nicole's high winds caused a
Speaker 1: ten foot section of caulking to peel away near the
Speaker 1: crew capsule at the top of the rocket last week.
Speaker 1: Liftoff is scheduled for the early morning hours of Wednesday
Speaker 1: from NASA's Kennedy Space Center, with test stummies rather than
Speaker 1: astronauts on board. It's the first test flight for the
Speaker 1: three hundred two foot rocket, the most powerful ever built
Speaker 1: by NASA, and will attempt to send the capsule into
Speaker 1: lunar orbit. That's a Bloomberg and j a t Stem report. Nathan,
Speaker 1: all right, Karen, thank you. We are live from the
Speaker 1: Bloomberg Interactive Brokers studios where it's coming up to six
Speaker 1: one on Wall Street time. Now to check what's going
Speaker 1: on in d C, where some of the top stories
Speaker 1: include another rebuke for election deniers running in the mid
Speaker 1: terms with carry Lakes loss in Arizona, the Senate to
Speaker 1: take up a same sex marriage bill seeking Republican votes,
Speaker 1: and President's Biden and She taking their biggest step in
Speaker 1: years to avoid a U. S. China clash. Also making
Speaker 1: news later on this evening, in fact, former President Donald
Speaker 1: Trump defying allies and the midterm results with an ex announcement,
Speaker 1: Let's bring in Joe Matthew Are Washington correspondent, host of
Speaker 1: Sound on Here on Bloomberg Radio, Joe, good morning. We've
Speaker 1: been playing comments from Citadel founder Ken Griffin this morning
Speaker 1: saying former President Trump is a three time loser, needs
Speaker 1: to step aside. But sounds like reverse psychology maybe doesn't
Speaker 1: work for the former president. Why isn't that the truth? Like,
Speaker 1: you know, the more I hear stories like this, it's like, boy, guys,
Speaker 1: if you really don't want him to run, then stop
Speaker 1: talking that that might be the biggest motivator he's got.
Speaker 1: Calling him a three time loser. It's the same type
Speaker 1: of messaging we hear from Democrats in this case, and
Speaker 1: that makes him want to run. All the reporting that
Speaker 1: we have done, by the way, does suggest that he
Speaker 1: will make a full throated announcement to run for president tonight.
Speaker 1: There have been a lot of Republicans asking him not
Speaker 1: to do this until the runoff election for the Senate
Speaker 1: race in Georgia, which is on December six. But it
Speaker 1: looks like there's no stop in his train. You know.
Speaker 1: We got the email from from the Trump world yesterday
Speaker 1: with all the logistics for camera crews and news crews
Speaker 1: who want to cover this thing, and it does have
Speaker 1: all the trappings of a real campaign announcement. It will
Speaker 1: happen at mar Lago. Yeah, and it's coming Joe on
Speaker 1: the heels of yet another major loss for one of
Speaker 1: former President Trump's UH endorsed candidates, perhaps the most vocal
Speaker 1: election denier of all in UH Carry Lake in Arizona.
Speaker 1: That's right, the name that's been floated as a potential
Speaker 1: running mate for Trump and twenty four loses the race
Speaker 1: for governor. This is someone who has been projecting allegations
Speaker 1: of fraud since before the race was called. We didn't
Speaker 1: know exactly how she would respond if this moment happened,
Speaker 1: but indeed Katie Hobbs, who, by the way, is the
Speaker 1: Secretary of State in Arizona and oversaw the election in
Speaker 1: twenty And it's important to know that backdrop, that that
Speaker 1: this was in fact a direct uh contest on what
Speaker 1: happened in versus what we're hearing now. Carry Lake is
Speaker 1: it did tweet last night, and it's it's been getting
Speaker 1: quite a bit of talk because it's being called a
Speaker 1: bit of a cell phone. Arizonans no b s when
Speaker 1: they see it. That was at ten pm Eastern time.
Speaker 1: We've heard nothing else from Carrie Lake. She is not conceded,
Speaker 1: at least officially, despite the wink and a nod that
Speaker 1: came with that that last night. Where do things stand
Speaker 1: now with the Republican Party coming back to Washington? A
Speaker 1: lot of these members of Congress is still at this
Speaker 1: point not knowing at least fully whether they're going to
Speaker 1: have a majority. I guess very close to it now,
Speaker 1: but not officially they're just yet. That's true. It was
Speaker 1: now one full week. It was a full week ago
Speaker 1: today that Kevin McCarthy declared victory was around two o'clock
Speaker 1: in the morning. And so when you wake up tomorrow,
Speaker 1: Republicans will have a majority in the House. Well, that
Speaker 1: still has not happened. It appears at will they are
Speaker 1: one seat away right now based on our reporting and
Speaker 1: the tally of races that have yet to be decided.
Speaker 1: There's still a lot of votes, tens of thousands of
Speaker 1: votes to count in califor Arnia. But it does look like,
Speaker 1: you know, the odds for for Democrats to get the House,
Speaker 1: to keep the House at this point, it would take
Speaker 1: a small miracle. But look, it's also all be careful
Speaker 1: what you ask for. If Kevin McCarthy or whoever owns
Speaker 1: the gavel here becomes the speaker of this incredibly thin majority,
Speaker 1: they're gonna have a very difficult couple of years ahead,
Speaker 1: not only getting anything done, but just corralling the caucus,
Speaker 1: you know, get hurting the cats. This is not a
Speaker 1: Republican caucus that is in step with each other. The
Speaker 1: Freedom Caucus is completely at odds with other members. And
Speaker 1: there's going to be a fight for leadership here with
Speaker 1: votes set for the next twenty four hours on this Yeah,
Speaker 1: and and that's apart from the fight over the figurehead
Speaker 1: leadership of the Republican Party now with former President Trump
Speaker 1: expected to make this announcement, but there are a lot
Speaker 1: of other potential candidates waiting in the wings. Well, that's true.
Speaker 1: And you know, one of the big questions Nathan is
Speaker 1: does this is this a field clearing event? We're gonna
Speaker 1: really understand now if Donald Trump makes this official tonight,
Speaker 1: exactly where he stands. You know, Tom Cotton announced earlier
Speaker 1: he would not make a run for president. He didn't
Speaker 1: even want to go there. But will Rhonda Santis sit
Speaker 1: at home just because Donald Trump is running some of
Speaker 1: the other Republicans who have been mentioned in the potential
Speaker 1: race for twenty four that is yet to be seen,
Speaker 1: And it's it's looking and feeling right now like no
Speaker 1: that Donald Trump, in fact, if he decides to run,
Speaker 1: could in fact have a primary to deal with instead
Speaker 1: of just running straight home with with the nomination our
Speaker 1: last minute or so, Joe, let's get caught up on
Speaker 1: what's happening at the G twenty How my temperature would
Speaker 1: you say? The porridge is now between the US and
Speaker 1: China after the meeting with it's cooling off a little
Speaker 1: bit if I'm following your your analogy here. But you know,
Speaker 1: that was an important meeting for President Biden and President.
Speaker 1: She to do exactly that, to lower the temperature a
Speaker 1: little bit. They do seem to have indicated that our
Speaker 1: relationship has bottomed, that those weeks that followed the visit
Speaker 1: to Taiwan for from Nancy Pelosi were as bad as
Speaker 1: it's going to get a lot of contacts were severed
Speaker 1: at that point, and we're starting to reconnect things here.
Speaker 1: Both leaders know that they cannot afford to have a
Speaker 1: military conflict competition. You asked, conflict, No, The question is
Speaker 1: what happens to our business relationship? You know, as we
Speaker 1: as we sever ties when it comes to high tech
Speaker 1: and we worry about trade with China. It's such an
Speaker 1: important relationship with China as the factory of the world.
Speaker 1: They make stuff that we don't want to make, then
Speaker 1: they need us to buy it, and that's not going
Speaker 1: to change anytime soon. These two leaders need to create
Speaker 1: the path forward here to continue that relationship. All the while,
Speaker 1: Vladimir Putin, who did not attend It's not at the
Speaker 1: G twenty, is sulking at home in Moscow watching this
Speaker 1: on TV and and pretty amazing how things have changed
Speaker 1: since she and Putin met at the Olympics months ago
Speaker 1: and appeared to kick off what was some new access
Speaker 1: to go up against the United States. It's not feeling
Speaker 1: like that now, just quickly. Is the war in Ukraine
Speaker 1: U U S relations with Russia something that the U.
Speaker 1: S And China can work work together on. That's a
Speaker 1: good question. You know, Taiwan is one thing, Ukraine is another.
Speaker 1: She's got his own relationship with Putin, but there was
Speaker 1: an agreement that both countries would denounce the use of
Speaker 1: nuclear weapons in Ukraine. And that's got to be a
Speaker 1: message that hit home pretty hard for Vladimir Putin to
Speaker 1: hear that through the news cycle. Great to speak with
Speaker 1: you as always, Joe Matthew Are Washington correspondent, host of
Speaker 1: Sound On. You can catch it weekdays five pm. Wall
Speaker 1: Street Time on Bloomberg Radio, and by the way, when
Speaker 1: you're in Washington, you can listen to Bloomberg Radio, Bloomberg
Speaker 1: and one oh five point seven FM HD two joke,
Speaker 1: Thanks again. Futures moving higher this morning. SMP futures up
Speaker 1: twenty nine point, staff features up a hundred one NASTAC
Speaker 1: futures up a hundred forty two points. As we wait
Speaker 1: the latest read on inflation. Producer prices out of eight
Speaker 1: thirty Wall Street time. We'll get you through it. Bloomberg
Speaker 1: surveillance up next for Karen Moscow. I'm Nathan Hanker, and
Speaker 1: this is Bloomberg