Speaker 1: By from the Bloomberg Interactive Berger Studios. This is Bloomberg
Speaker 1: Day Right for Thursday, October two. Coming up this hour,
Speaker 1: investors praise for this morning's reading on inflation, the International
Speaker 1: Energy Agency warrants about global recession, US officials where they're
Speaker 1: planning to cap Russian oil prices may backfire, and the
Speaker 1: deadline approaches for the Bank of England to end its
Speaker 1: an emergency bond buying program. New York's gunlog it's a
Speaker 1: reprieve from a federal appeals court. Plus Russia Acid, Ukraine's
Speaker 1: key area by Iranian made kamikaze drones. I'm Michael lar More.
Speaker 1: I'm trying stash our in sports, the praise and padres
Speaker 1: one of the nationally playoffs. Yankees and Guardians scheduled to
Speaker 1: play game two tonight. That's all trading head on Bloomberg
Speaker 1: day Break on Bloomberg eleven, TREEO, New York, Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine
Speaker 1: sixties and Francisco Syrius XM one nineteen and around the world.
Speaker 1: Old on Bloomberg Radio dot Com and via the Bloomberg
Speaker 1: Business app. And good morning. I'm Karen Moscow. I'm Nathan Hagar.
Speaker 1: Bloomberg Daybreak is brought to you by SEI. Built on
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Speaker 1: index futures are higher. This morning's five oh one on
Speaker 1: Wall Street, and we check the markets every fifteen minutes
Speaker 1: throughout the trading day on Bloomberg. Right now, SNP futures
Speaker 1: are up about fifteen points down, futures of A hundred
Speaker 1: twenty eight and NASDAG futures up. Twenty ten year treasury
Speaker 1: down four thirty seconds, yield three point nine one per
Speaker 1: cent in a yield on the two year four point
Speaker 1: three one percent, Nathan Karen, will we wait for today's
Speaker 1: inflation reports. Stocks enter this session at their lowest level
Speaker 1: since September twenty s and P five hundreds declined for
Speaker 1: six straight days now. Victoria Green is chief investment officer
Speaker 1: at G squared Private Wealth. The biggest thing an investor
Speaker 1: can do is don't panic or don't dirk on data.
Speaker 1: We've seen wild moves off of some of these data
Speaker 1: releases or FED moves, and a lot of times it's
Speaker 1: a one or two day move and comes back to trent.
Speaker 1: So I would say like one day, one week, does
Speaker 1: not a market make like be a little bit patient
Speaker 1: g squared Private Wealth. Victoria Green says she does not
Speaker 1: expect the FED to pivot anytime soon. Still, Nathan, the
Speaker 1: Fed will be watching today's inflation data closely. The Consumer
Speaker 1: Price Indise for September comes out at eight thirty am
Speaker 1: Wall Street time, and we get a free view from
Speaker 1: Bloomberg Economics. Corresponded Michael McKee. Only minor progress on inflation
Speaker 1: is forecast, with headline CPI rising at a faster rate
Speaker 1: in September, while core inflation slows but only to a
Speaker 1: still strong level. Housing is the biggest problem. Shelter makes
Speaker 1: up about a third of the overall basket of consumer
Speaker 1: prices and an even larger share of the core. Overall
Speaker 1: Rents have only started to stabilize. Some categories should see pullbacks,
Speaker 1: particularly used cars. Retailers are also discounting to clear out
Speaker 1: inventory ahead of the holidays. But the ultimate message to
Speaker 1: the Fed will be keep raising interest rates. Michael McKee,
Speaker 1: Bloomberg Daybreak thanks Mike, And speaking of interest rates, more
Speaker 1: big hikes are on the way from the Fed unless
Speaker 1: there's a significant change in the data. That's according to
Speaker 1: Fed Governor Michelle Bowman. If we do not see signs
Speaker 1: that inflation is moving down, my view continues to be
Speaker 1: that sizeable increases in the target range for the Federal
Speaker 1: funds rate should remain on the table. However, if inflation
Speaker 1: starts to decline, I believe a slower pace of rate
Speaker 1: increases would be appropriate, And those comments from Fed Governor
Speaker 1: Michelle Bowman suggests she supports another seventy five basis point
Speaker 1: move when officials meet next month. We all eyes are
Speaker 1: on the Fed, Nathan, But starting tomorrow earnings come back
Speaker 1: into play too. Bank of America reports on Monday, and
Speaker 1: CEO Bryan moynihan is now with optimistic words ahead of
Speaker 1: the result. He says consumers are in good shape and
Speaker 1: his bank only expects us like recession in the US.
Speaker 1: They have this core of positive real GDP next quarter
Speaker 1: just above zero positive and three straight quarters of negative
Speaker 1: and so effectively defending what the NVR does you know
Speaker 1: that's that's a slight recession, but is shallow. Brian Monahan
Speaker 1: spoke at the Institute of International Finance meeting in Washington.
Speaker 1: Stay tuned for more from Moynahan on Monday, when we
Speaker 1: speak live at the Bank of America's CEO on Bloomberg
Speaker 1: Radio and Television. Well, Bank of America only sees a
Speaker 1: slight recession, Karen. The International Energy Agency is warning about
Speaker 1: a worldwide contraction. The i e A says opec decision
Speaker 1: to cut oil production threatens to push prices two levels
Speaker 1: that tipped the global economy into a downturn. And checking
Speaker 1: prices right now, Nimex crude is moving higher, up six
Speaker 1: cents per center fifty one cents at eighty seven dollars
Speaker 1: eighty cents of Arril Brent is hired by seven tenths
Speaker 1: per cent at ninety three dollars eleven cents. Meantime, Nathan
Speaker 1: prisident Biden finds himself walking a tight rope over the
Speaker 1: world's demand for oil and gas and not says the
Speaker 1: administration considers a price cap on Russian oil. Bloomberg's Amy
Speaker 1: Morris has a look at the strategy from our nine
Speaker 1: on newsroom in Washington. The ideas to keep enough Russian
Speaker 1: supplies on the global market to prevent a spike in
Speaker 1: oil prices. But the move by OPEC Plus to slash
Speaker 1: production by two million barrels a day could undermine the plan.
Speaker 1: Sources tell Bloomberg that administration officials are worried Russia may
Speaker 1: retaliate by cutting off supplies. Russia President Putin has said
Speaker 1: he will not sell oil to any nation that participates
Speaker 1: in the price cap plan. Still, the US is going
Speaker 1: ahead with it, seen as the best choice among bad
Speaker 1: options to curb Russia's oil revenues. In Washington, I'm Amy
Speaker 1: Moore as Bloomberg Daybreak, Amy Thanks on Capitol Hill. The
Speaker 1: House January six Committee is getting ready to present new evidence.
Speaker 1: Today's hearing will focus on Donald Trump's state of mind
Speaker 1: the day of the attack at the US Capitol, Bloomberg said.
Speaker 1: Baxter has more. This is the last hearing before the midterms,
Speaker 1: and the committee is endeavoring to reinforce its contention that
Speaker 1: Donald Trump remains What they are saying is a clear
Speaker 1: and present danger to democracy. Congresswoman Zoe Loughran says what
Speaker 1: they discovered through their work this summer make clearer donald
Speaker 1: Trump's intentions, what he knew, what he did, what others did.
Speaker 1: She says there will be no live witnesses, but they
Speaker 1: will have testimony from new witnesses in San Francisco. I'm
Speaker 1: at Baxter Bloomberg Daybreak, all right. Thanks. Meantime, Google has
Speaker 1: approved Donald Trump's Truth social app for release in its
Speaker 1: Place store. Google had previously declined to distribute the app,
Speaker 1: saying it hosted violent threats and other content that goes
Speaker 1: against Google standards in Europe. This morning, Karen, it is
Speaker 1: all about the turmoil in financial markets. The deadline is
Speaker 1: hearing for the Bank of England to end its bond
Speaker 1: buying program. Let's go live to London and get the
Speaker 1: latest with Bloomberg's You and Potts. Good morning you and
Speaker 1: good morning Nathan and Karen. Investors have been watching this
Speaker 1: story all week, but tomorrow afternoon, the UK's Central Bank
Speaker 1: will finally end its support for the country's bond markets.
Speaker 1: Ahead of that deadline, the government now appears to be
Speaker 1: at log aheads with the Bank of England's asked about
Speaker 1: any fresh market turmoil, the government's chance that said that
Speaker 1: would be a matter for the governor in London. I'm
Speaker 1: you in Parts bloom Big Daybreak, all right, new and
Speaker 1: thank you and Incorporate News this morning shares about five
Speaker 1: materials moving lower. The maker of chip manufacturing equipment is
Speaker 1: slashing its forecast for a fourth quarter. It says new
Speaker 1: export regulations will hurt sales to China. Straight ahead your
Speaker 1: latest local headlines, plus a check of sports and this
Speaker 1: is Bloomberg And start at five oh seven on Wall Street,
Speaker 1: work sixty two degrees in Central Park on an accident
Speaker 1: headed to JFK southbound Van Wick past Linden Boulevard. Details
Speaker 1: coming up the traffic First. Michael Bars here with more
Speaker 1: on what's going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. A federal appeals judge
Speaker 1: put on hold a lower court ruling that struck down
Speaker 1: many of New York's gun bands in public places as
Speaker 1: constitutional judge granted New York Attorney General Letitia James a
Speaker 1: temporary order preventing in October sixth decision by US District
Speaker 1: Judge Glenn Suttoby and Syracuse from going into effect. A
Speaker 1: three judge panel of the same appeal scored must old
Speaker 1: decide whether to stay Sotoby's decision for the entire appeal process.
Speaker 1: Abortion providers in New York are seeing such an influx
Speaker 1: of pregnant women from other states that they are struggling
Speaker 1: financially to meet demand. Governor Kathy Oakle says the state
Speaker 1: is giving more than thirteen million dollars to organizations that
Speaker 1: operate clinics throughout New York so they can continue to
Speaker 1: serve women regardless of where they live. They include hospital
Speaker 1: based providers, independent clinics, as well as many who are
Speaker 1: receiving state assistance for the very first time because the
Speaker 1: need is that dire. Governor Ocle says the state will
Speaker 1: protect a woman's right to a safe and legal abortion.
Speaker 1: New York's Health commissioner says monkey Bonts is no longer
Speaker 1: the threat to the city that it initially was. Dr
Speaker 1: Ashwyn Vassan, we have turned a corner that I hope
Speaker 1: indicates that we now have the upper hand on this outbreak. Meanwhile,
Speaker 1: Dr Pisan says as for polio, traces of the disease
Speaker 1: were found in wastewater samples across the state, including New
Speaker 1: York City. For the fourth day in a residents of
Speaker 1: Kiev were awakened to the sound of Air Aid sirens
Speaker 1: as Russian bombardment of Ukraine's critical infrastructure continues what he's
Speaker 1: saying that a village was hit overnight by a so
Speaker 1: called Kama Kaze drone, probably supplied by Iran. A Connecticut
Speaker 1: jury as ordered conspiracy theorist Alex Jones to pay nine
Speaker 1: hundred sixty five million dollars to the relatives of Sandy
Speaker 1: Hook Elementary School shooting victims and an FBI agent. They
Speaker 1: said Jones tormented their lives by promoting the live that
Speaker 1: the rampage was a hoax. Robert Parker lost his daughter
Speaker 1: Emily in the shooting. I couldn't be more proud to
Speaker 1: stand here and with all of these people. And I've
Speaker 1: really missed my wife and daughters right now and they
Speaker 1: can't be here with me. Robert Parker's daughter, who was
Speaker 1: one of twenty children and six adults killed in the massacre.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred
Speaker 1: journalists and analyst more than a hundred twenty countries. Michael
Speaker 1: Barr and this is Bloomberg, Nathan. Thanks Michael. Coming up
Speaker 1: to five ten on Wall Street time for the Bloomberg
Speaker 1: Sports up Take. Good morning, John stash All Right can
Speaker 1: order Nathan. Unusual scheduling in the American League Division Series.
Speaker 1: Yankees and Guardians, with a night off in between the
Speaker 1: two games at the Stadium, schedule to resume their series tonight.
Speaker 1: Rain is in the forecast. They can't play tonight. They'll
Speaker 1: play tomorrow with Nestor Cortez going against Cleveland Shane Bieber.
Speaker 1: Both n lds tied at one. Atlanta shout out the
Speaker 1: Phillies three nothing behind Kyle Right twenty one game, winning
Speaker 1: the regular season. The Pondres beat the Dodgers by the
Speaker 1: same five to three score that l A won the
Speaker 1: opener by Nix and Nets. Getting ready to tip off
Speaker 1: those seasons next week. The Nicks lost at Indiana. The
Speaker 1: Nets one in Milwaukee. Ben Simmons acquired last season, but
Speaker 1: he never played. He is playing now and wal Simmons
Speaker 1: doesn't score much Last night he at tennis Sis eight rebounds.
Speaker 1: Can the Giants keep it? Going off to a surprising
Speaker 1: four and one start, they host Baltimore Sunday as new
Speaker 1: coach Brian Dable continues to be impressed by his quarterback
Speaker 1: Daniel Jones. He comes in, he does a great job
Speaker 1: with the players around him. Of of leading them of
Speaker 1: helping them with the offense. And you know, each week
Speaker 1: I think you get a little bit more comfortable again
Speaker 1: for five weeks into really live competition. Um so, I
Speaker 1: think you learn a lot about players, not just Daniel,
Speaker 1: but everybody. And he's done. He's done a good job
Speaker 1: for the Jones, led the Giants to the upset, went
Speaker 1: over Green Bay. The Jets visit Green Based Sunday. Aaron
Speaker 1: Rodgers heard his thumb when the Giants hit him on
Speaker 1: the last play of that game in London. He didn't practice,
Speaker 1: but he is going to face the Jets, as rookie
Speaker 1: Skyler Thompson did last week. Miami's two a tongue below
Speaker 1: remains out with the concussion. The Dolphins are gonna start
Speaker 1: Thompson this week. Big game Sunday night, Dallas at Philadelphia Cowboys.
Speaker 1: Expected to stick with Cooper Rush. He's four and oh
Speaker 1: since Dak Prescott's thumb injury. Johns Dash Wear Bloomberg Sports, Nathan,
Speaker 1: thank you, john SMP futures right now up seventeen points,
Speaker 1: Staff features up a hundred thirty seven. Nest that futures
Speaker 1: are higher by twenty nine points now ten Your treasuries
Speaker 1: down to thirty seconds. He'll three point nine zero percent
Speaker 1: ahead of the Consumer Price Index coming out eight thirty
Speaker 1: Wall Street Time. We pre you next with Sarah House,
Speaker 1: senior economist at Wells Fargo. This is Bloomberg Bloomberg eleven
Speaker 1: three oh weather, rain and a breeze today with a
Speaker 1: high near seventy degrees, mostly sunny Tomorrow and Saturday with
Speaker 1: up for sixties. Clouds will increase on Sunday upper sixties
Speaker 1: once again. Right now sixty two degrees. Markets, headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com.
Speaker 1: The Bloomberg Business at and at Bloomberg Quick Tape is
Speaker 1: a Bloomberg business lash and I'm Karen Moscow. Equity is
Speaker 1: extending to clients as caution prevails before highly anticipated US
Speaker 1: inflation data later today. The dollar is edging higher. We
Speaker 1: checked the markets every fifteen minutes to the trading day
Speaker 1: on Bloomberg. Guess and P Future is up down futures
Speaker 1: of A hundred fifty seven and nasday future is up
Speaker 1: thirty eight. The decks in Germany's up eight tenths of
Speaker 1: upper set ten. Your treasury little change your three point
Speaker 1: nine percent They yield on the two year four point
Speaker 1: three zero percent. Nine X frue oil is up six
Speaker 1: tents percent or fifty two cents at eighty seven dollars
Speaker 1: seventy nine cents a barrel. Comic schooled up third of
Speaker 1: a percent, or five dollars sixty cents at sixteen eighty three.
Speaker 1: Ten announced the euro point nine seven to three against
Speaker 1: the dollar, British ground one point one to eight, and
Speaker 1: the N one forty six point seven nine. And looking
Speaker 1: at bit coin this morning, it's sound three quarters of
Speaker 1: a percent. It's at nineteen thousand dollars. The consumer Price
Speaker 1: Index at eight thirty Wall Street time, along with the
Speaker 1: weekly report on initial John List claims and Walgreen, Spoots Alliance,
Speaker 1: and black Rocker among companies scheduled to report earnings today.
Speaker 1: That's a Bloomberg business flash. Now here's Michael Barr with
Speaker 1: Moore on what's going on around the world. Muncle, Good morning,
Speaker 1: Good morning, Karen how Select Committees, the members investigating the
Speaker 1: January sixth attack on the Capitol, will hold its final
Speaker 1: hearing today. Members are promising substantial new footage and significant
Speaker 1: witness testimony. Since the last hearing, multiple members of Trump's
Speaker 1: cabinet have testified behind closed doors millions of Social Security
Speaker 1: recipients was soon learned just how high a boost they'll
Speaker 1: get in their benefits next year. The increased to be
Speaker 1: announced today is expected to be the highest and forty years,
Speaker 1: maybe up to nine. In the NHL, the Bruins beat
Speaker 1: the Capitols five to Baseball's n l DS playoffs. The
Speaker 1: Braves beat the Phillies three zip to even their series
Speaker 1: at a game of piece. The Padres beat the Dodgers
Speaker 1: five three to tie their series at one. One. Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quicktake, powered by more than journalist and analysts, are
Speaker 1: more than a hundred twenty countries. Michael bar this is Bloomberg, Nathan.
Speaker 1: Thanks Michael. It's five nineteen on Wall Street Life from
Speaker 1: the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak, and
Speaker 1: it's not just a boost in social security benefits. Were
Speaker 1: waiting to hear about how much of a boost are
Speaker 1: we gonna get in inflation when the Consumer Price Index
Speaker 1: comes out in just about three hours or so. Joining
Speaker 1: us now, Sarah House, senior economist at well Is Fargo.
Speaker 1: Great to speak with you. Sarah, And as we look
Speaker 1: at the ECO screen on the Bloomberg terminal, pretty interesting
Speaker 1: consensus here from economists that the headline inflation numbers expected
Speaker 1: to take down two tenths percent while the core is
Speaker 1: expected to take up two tenths percent. What's your view. Yeah,
Speaker 1: so we're looking for a zero point two percent gain
Speaker 1: on the headline, so that's in line with the consensus,
Speaker 1: and that will help bring the year rear rate down
Speaker 1: from eight three to eight one. And like we've seen
Speaker 1: the past few months of big factor driving that is
Speaker 1: lower gasoline prices, and we did see them take up
Speaker 1: towards the end of the month, but for the month
Speaker 1: on average they were down. But when we step back
Speaker 1: from energy prices, we're still seeing very strong momentum in
Speaker 1: the core component. So we're looking for a slightly strong
Speaker 1: for gain there and what consensus is expecting so a
Speaker 1: zero point five percent monthly increase, which would actually push
Speaker 1: the year rear rate on core CPI up to a
Speaker 1: fresh cycle hive at six point six percent. Now it
Speaker 1: sounds like we keep the FED on course for the
Speaker 1: seventy five basis point rate hike that a lot of
Speaker 1: FED speakers have said that they are more than certainly
Speaker 1: open to I think, so I think after the minutes yesterday,
Speaker 1: the bar is even higher for stepping down to a
Speaker 1: fifty basis point increase. So we're still looking for a
Speaker 1: seventy five basis point increase even if you did have
Speaker 1: at somewhat of of a downside miss. And I think
Speaker 1: when you look at the core, there are some signs
Speaker 1: of softening, particularly in goods prices, but that services component
Speaker 1: is much slower, slower moving, and is looking like that's
Speaker 1: going to remain fair fairly strong over the next few months,
Speaker 1: and so I think the Fed is going to be
Speaker 1: pretty hesitant to read too much into a softer print
Speaker 1: to day, so they want to see a spate of
Speaker 1: lower readings, which I just I think it's going to
Speaker 1: take time to manifest. How much time do you think
Speaker 1: it will take for higher interest rates to have some
Speaker 1: kind of impact on the services component of inflation. Well
Speaker 1: starting to see it now certainly in the housing market,
Speaker 1: but I think that's going to take time to feed
Speaker 1: into the actual CPI. So the owner's equivalent rent measure
Speaker 1: lags what we're seeing in the housing market by almost
Speaker 1: fifteen months. The rental portion of that it's a little
Speaker 1: it's a little bit shorter, and we have seen rent
Speaker 1: slow down quite noticeably since the start be here if
Speaker 1: you're looking at private sector measures. So I think some
Speaker 1: moderation in the services side is coming. Um. It will
Speaker 1: be helped by the fact that we are seeing at
Speaker 1: least a slight slow down in wages. We're gonna get
Speaker 1: some help from just some some methodology quirks from things
Speaker 1: like health insurance here in October. So I think we're
Speaker 1: getting there. But on the services side, it's it's only
Speaker 1: going to be incremental improvement. I think where you could
Speaker 1: see more meaningful improvement and inflation over the next couple
Speaker 1: of months is likely to be core good. Of course,
Speaker 1: we did get a higher than expected producer price index yesterday.
Speaker 1: Does that have any read through into what we could
Speaker 1: get this morning? Well, I think it's consistent with this
Speaker 1: general story that serves those inflations. Still where you're seeing
Speaker 1: the general strength, and we certainly saw that in that
Speaker 1: other services component. But where we did see softness was
Speaker 1: in things like transportation warehousing costs, so that was down
Speaker 1: for a third straight month. We also saw trade services,
Speaker 1: so that's a gauge of retail and wholesale margins that
Speaker 1: had the smallest increase we've seen in months. So I
Speaker 1: think we are seeing disinflationary pressure coming from the good sector,
Speaker 1: but still strength out of the services side. We got
Speaker 1: about a minute left here, Sarah. We've heard a number
Speaker 1: of FED speakers say that there's going to come a
Speaker 1: point where we need to sort of wait and see
Speaker 1: what kind of impact higher interest rates is having. When
Speaker 1: do you think the FED gets to that point? So
Speaker 1: we think that the FED is going to remain pretty
Speaker 1: aggressive here through this year or so, looking for a
Speaker 1: SETID five basis point I can November and then stepping
Speaker 1: down to fifty in December, which is still historically strong.
Speaker 1: But we look at where of the side funds rate
Speaker 1: is likely to be a positive versus the core PC.
Speaker 1: That's probably more of a fourth quarter even December event.
Speaker 1: So that's what's employment our view that we're still going
Speaker 1: to see some pretty strong rate hikes from the side
Speaker 1: over the next two meetings. Great to speak with you
Speaker 1: this morning, Sarah. Thanks for this. Sarah House, senior economist
Speaker 1: at Wells Fargo, calling for month over month core inflation
Speaker 1: to rise to a half percent. That's slightly higher than
Speaker 1: the consensus in the Bloomberg survey as far as the
Speaker 1: year over year numbers or consensus calls for eight point
Speaker 1: one percent on the headline level six point five h
Speaker 1: for Core cp I, we get the official numbers eight
Speaker 1: thirty am. Wall Street Time. We will break them down
Speaker 1: for you completely here on Bloomberg Radio. SMP futures right
Speaker 1: now ahead of all that up a half percent of
Speaker 1: nineteen points. Staff futures up a hundred fifty two points,
Speaker 1: and NASTAC futures are higher by thirty six points ten
Speaker 1: your treasury little change the yield three point eight nine percent.
Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather, rainy,
Speaker 1: breezy today behind your seventy degrees upper sixties into the
Speaker 1: weekend with mostly sunny skies on Saturday, increasing clouds on Sunday.
Speaker 1: Right now sixty two in Central Park, broadcasting live from
Speaker 1: the Bloomberg Interactive Broker Studio in New York. Bloomberg E
Speaker 1: living free to Washington, d C, Bloomberg nine to Boston,
Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg N
Speaker 1: sixty to the country. Sirius XM to the one nine
Speaker 1: team and around the globe, the Bloomberg Business at and
Speaker 1: Bloomberg Radio dot Com. This is Bloomberg Daybreak and it's
Speaker 1: my thirty on Wall Street. Good morning. I'm Nathan Hagar
Speaker 1: and I'm fair in Moscow. We are just about four
Speaker 1: hours away from the open of US trading. Let's get
Speaker 1: you up to date on the news you need to
Speaker 1: know at this hour. US features are higher headed today's
Speaker 1: inflation report. The SNP five has declined for six straight days,
Speaker 1: and stocks entered the session at their lowest levels in
Speaker 1: November of Economist Hugh Johnson tells US it's unclear if
Speaker 1: we're nearing a bottom. If we get into a recession
Speaker 1: in the first and second quarter, which I think we're
Speaker 1: gonna do, that's gonna be set up the time in
Speaker 1: which we're gonna start to get better news or news
Speaker 1: that the recession is going to end and the recovery
Speaker 1: is going to begin. Maybe news that the Federal Reserve
Speaker 1: is going to take its put off the brake, and
Speaker 1: under those conditions you'll get a turn in the stock market.
Speaker 1: And economist Hugh Johnson says he anticipates a hard landing
Speaker 1: at a US recession. That's if the Fed holds to
Speaker 1: its current rate hike path. Well, the Fed does appear
Speaker 1: to be sticking to that path, Karen Minneapolis President and
Speaker 1: Neil cash Car signaling a lot has to change before
Speaker 1: the central Bank changes course. The bar for such a
Speaker 1: change is very high, because we have not yet seen
Speaker 1: much evidence that the underlying inflation, the services inflation, the
Speaker 1: wage inflation, the labor market, that that is yet softening,
Speaker 1: and so I think we're quite a ways away from
Speaker 1: anything like that. Minneapolis Fed President Neil cash Carry made
Speaker 1: the comments at a town hall in Wisconsin September. CPI
Speaker 1: readings do out at eight thirty am Wall Street Time.
Speaker 1: Stick with Bloomberg Radio and television for complete coverage all morning. Well,
Speaker 1: another recession called now Nathan, this time from the CEO
Speaker 1: of Bank of America, Brian Moynahan, says his bank only
Speaker 1: expects a shallow contraction in the US, citing strong US consumers.
Speaker 1: The consumers basically have more money and accounts by multiples
Speaker 1: and it did pre pandemic. They're earning more money, their
Speaker 1: credit qualities as high as ever been. They have more
Speaker 1: excess capacity on their cabarring than they've had de delinquencies
Speaker 1: are very low. Brian Monahan spoke at the Institute of
Speaker 1: International Finance meeting in Washington State. Tuned for more from
Speaker 1: Moynahan on Monday when we speak live with the Bank
Speaker 1: of America's CEO on Bloomberg Radio and Television. On the
Speaker 1: other hand, careing the international energy agencies warning the global
Speaker 1: economy could enter a recession. That's after OPEC's decision to
Speaker 1: sharply cut oil production prends to push crude heiss prior higher,
Speaker 1: I should say, and they're moving that a now with
Speaker 1: nimex screwed up two tenths percent at eighty seven forty four,
Speaker 1: A barrel brent is hired by three tenths at seventy three.
Speaker 1: And in Washington today, Nathan President Biden finds himself walking
Speaker 1: a tide robe over the world's demand for oil and gas.
Speaker 1: The White House is considering a price camp on Russian oil,
Speaker 1: but sources tell Bloomberg administration officials are worried Russia may
Speaker 1: retaliate by cutting offs. Applause. Russian President Vladimir Putin has
Speaker 1: said he won't sell oil to any nation that participates
Speaker 1: in the price camp plan. Straight ahead, your latest local headlines,
Speaker 1: plus a check of sports, and this is Bloomberg. Thanks
Speaker 1: Scaring on Wall Street, sixty two degrees in Central Park,
Speaker 1: bad accident on Ruthree. Sacacus will say you about it.
Speaker 1: In Traffic First Michael Barr with what else is going
Speaker 1: on in New York and around the world. Michael Nathan,
Speaker 1: thank you very much. A federal appeals court allowed New
Speaker 1: York to continue in forcing its new gun law as
Speaker 1: it considers a lower court ruling that would block key provisions.
Speaker 1: The decision from the Second U. S. Circuit Court of
Speaker 1: Appeals came after a federal district judge in Syracuse declared
Speaker 1: multiple portions of the law unconstitutional. Attorney General Letitia James
Speaker 1: says she would please the law would stay in effect.
Speaker 1: Abortion providers in New York State are seeing an influx
Speaker 1: of pregnant women from other states. Governor Kathy Hokel says
Speaker 1: the state is giving more money in order to keep
Speaker 1: up with financial demand. Day. I'm proud to announce thirteen
Speaker 1: point four million dollars of grants going to abortion providers,
Speaker 1: fifty fifty new organizations, and collectively they operate a hundred
Speaker 1: twenty seven clinics together. Governor Ocle says the state of
Speaker 1: New York will protect a woman's right to a safe
Speaker 1: and legal abortion. The House elect committee investigating the January
Speaker 1: sixth attack on the Capitol will hold its final hearing today.
Speaker 1: Since the last hearing, multiple members of Trump's cabinet have
Speaker 1: testified behind closed doors. Ukraine's capital region has been struck
Speaker 1: by Iranian made kama kaze drones. Kiev's regional governors said
Speaker 1: the strike early today occurred in an area around the capitol.
Speaker 1: Attacks on Kiev had become rare before. The capital city
Speaker 1: was hit at least four times during Monday's Russian strikes. Meanwhile,
Speaker 1: Natal defense ministers are meeting again in Brussels today. They're
Speaker 1: gathered to discuss their ongoing a to Ukraine in its
Speaker 1: fight against Russia's invasion. Defense Secretary Lloyd Austin is saying
Speaker 1: they're committed to the long haul. We're gonna stay with
Speaker 1: our efforts to support Ukraine for as long as it takes,
Speaker 1: Secretary Lloyd Hall. A Connecticut jury decided that Alex Jones
Speaker 1: must pay nine hundred sixty five million dollars in damages
Speaker 1: to families and an FBI agent ravaged by the inful
Speaker 1: Wars Founders lie at the Sandy Hook Elementary School massacre
Speaker 1: was a hoax. Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quicktake, powered by more than
Speaker 1: twenty seven hundred journalists and analysts and more than a
Speaker 1: hundred twenty countries. Michael bar this is Bloomberg. Nathan, thanks
Speaker 1: thirty five on Wall Street time for the Bloomberg Sports
Speaker 1: Update with John Stenshower. All right, Nathan, Yankees and Guardians
Speaker 1: had last night off schedule to play game to tonight
Speaker 1: at the stadium and have tomorrow off. Yanks, We're gonna
Speaker 1: stick with a three man rotation, but they can't play
Speaker 1: tonight through to the expected rain and play games to tomorrow.
Speaker 1: They would have to go to a court starter if
Speaker 1: the series is extended. Yanks, of course won the opener
Speaker 1: game two starters, you know tonight or tomorrow. Nestor Cortez
Speaker 1: and Cleveland seen Bieber and the nld S Phillies Embraves
Speaker 1: sat through a three hour rain delay in Atlanta, then
Speaker 1: scoreless until the sixth inning. Atlanta scored three times and
Speaker 1: won three nothing only seven hits in the game. It's
Speaker 1: the Phil's first loss of the postseason. In l A,
Speaker 1: San Diego got home runs for Manning China. Jake Croninworth
Speaker 1: Padres beat the Dodgers five to three, l A three
Speaker 1: solo home runs and the lost. Both these series A
Speaker 1: tied of one preseason NBA Nicks lost in Indiana. R J.
Speaker 1: Barrett scorts twenty one points twenty three for Kyrie Irving
Speaker 1: and the next win at Milwaukee. The Islanders beginning season
Speaker 1: tonight they host Florida. The Devil's play game one at
Speaker 1: Philadelphia and the one of no Rangers at a road
Speaker 1: trip tonight in Minnesota. Jets on Sunday take their two
Speaker 1: game went in straight to Green Bay, facing Aaron Rodgers.
Speaker 1: Rob Sala, the coach of the improved Jet, that you
Speaker 1: think we're better on the world year ago obviously, but
Speaker 1: you know it still comes back to us, and you
Speaker 1: know it's it's exciting just to be able to go
Speaker 1: out there and play a championship team, which is what
Speaker 1: which is what they are, championship team, Hall of Fame
Speaker 1: quarterback um. But it still comes back to us and
Speaker 1: and performing with the best. Barge Lady Packers last Sunday
Speaker 1: in London, who that big lad and lots of the
Speaker 1: giants who are back home now. They're going for three
Speaker 1: wins in a row. Sunday taking on Baltimore. Week six
Speaker 1: begins tonight. It's Washington at Chicago. John actually are Bloomberg Sports.
Speaker 1: Thank you, Thank you, John seven on All Street. Time
Speaker 1: for the Tri State Business to report with Bloomberg Scott Carr.
Speaker 1: While the rest of the rental market has begun to
Speaker 1: cool off, New York's most expensive apartments got even costlier
Speaker 1: in September. The median rent on new leases in September
Speaker 1: it was four thousand, twenty two dollars, down nearly two
Speaker 1: percent from August and down three percent from the record
Speaker 1: high set in July. A report from New York State
Speaker 1: Comptroller Thomas and Napoli shows New York City's blooming tech
Speaker 1: industry helped offset job losses and other sectors during the pandemic.
Speaker 1: The report says the tech industry saw growth of nine
Speaker 1: point four percent, in the largest growth since largely because
Speaker 1: people became more reliant on technology during the lockdown and
Speaker 1: working from home i r S. Tax data analyzed by
Speaker 1: the Tax Foundation shows New Jersey is one of twenty
Speaker 1: two states that saw a net loss of adjusted gross
Speaker 1: income between twenty nineteen and twenty, including a net loss
Speaker 1: of more than eighteen hundred taxpayers. That's the Bloomberg Tri
Speaker 1: State Business Report. I'm Scott Carr. Thanks Scott eight on
Speaker 1: Wall Street. Bloomberg Radio is on the air from San
Speaker 1: Francisco to New York, London to Hong Kong. Let's check
Speaker 1: in with our global news team for some of the
Speaker 1: top stories heard on our three hundred affiliate radio stations
Speaker 1: around the world. I'm Steve Poscan Chen Chen Wins in
Speaker 1: New York. We're talking about how Manhattan's priceest departments keep
Speaker 1: getting costlier. Um Corney Donahoe on wh S and Loulsville Divide.
Speaker 1: An administration is said to be considering a complete ban
Speaker 1: on Russian aluminum. I'm Ginas Servetti in for w c
Speaker 1: CEO in Minneapolis. I'm reporting that the city comes in
Speaker 1: forty two on a list of the two hundred best
Speaker 1: cities for remote workers. I'm Caroline heap Go on bloom
Speaker 1: Big Dab Digital Media, blandon webbit Puting on the Government
Speaker 1: and the Bank of England at odds with the Governor
Speaker 1: sticking to the Friday deadline for the end of the
Speaker 1: emergency bomb buying program. I'm Scott Carr. I'm KFBK and Sacramento.
Speaker 1: I'm reporting a Microsoft's new app helping workers and managers
Speaker 1: better balance life in the office and working from home.
Speaker 1: And those are some of the stories our twenty undred
Speaker 1: Bloomberg journalists and analysts working on this morning around the world.
Speaker 1: It's thirty nine on Wall Street. The following commentary is
Speaker 1: from Bloomberg Opinion. Feeling pinched, Sometimes you're four. One cake
Speaker 1: can help. I'm Alexis Leean. This a calumnist for Bloomberg Opinion.
Speaker 1: With rents, food prices, and childcare costs all rising, coming
Speaker 1: up with the cash to cover unexpected expenses is becoming
Speaker 1: more difficult. When interest rates were low, borring money to
Speaker 1: make up for a temporary shortfall was relatively easy and
Speaker 1: didn't come at such a price. That's changed. Credit card
Speaker 1: rates are approaching twenty percent, personal loan rates are north
Speaker 1: of ten percent, and home equity lines of credit can
Speaker 1: be hard to come by for some people. Reducing retirement
Speaker 1: contributions temporarily or even borrowing from a four O one
Speaker 1: K maybe smarter than piling up high interests debt, but
Speaker 1: you have to do it the right way. If you're
Speaker 1: going to reduce your contribution amount, limit how many months
Speaker 1: you plan to do it for, and use future razors
Speaker 1: or bonuses to get back on track. If you have
Speaker 1: to borrow from your retirement account, make sure you know
Speaker 1: the rules around repayment. Ultimately, any tweaks to a four
Speaker 1: one K plan should really be thought of as a
Speaker 1: stop gap fixed. I'm lexis Leondest. For more opinion, please
Speaker 1: go to Bloomberg dot com, slash opinion or opi and
Speaker 1: go on the Bloomberg terminal. This has been Bloomberg opinion.
Speaker 1: You can hear Bloomberg opinion editorials every weekday at this time.
Speaker 1: Terminal customers can read more at O, P I n GO.
Speaker 1: Futures are moving higher, so our crude prices about prices
Speaker 1: on a stark warning from the International Energy Agency. This
Speaker 1: is Bloomberg Bloomberg eleven three oh Weather. Rainy, breezy today
Speaker 1: with a high near seventy degrees, mostly Sunday Tomorrow. Up
Speaker 1: for sixties will be in the sunshine Saturday as well.
Speaker 1: Up for sixties. Clouds increase on Sunday. Right now sixty
Speaker 1: two in Central Park markets, headlines and breaking news twenty
Speaker 1: four hours a day. At Bloomberg dot com, the Bloomberg
Speaker 1: Business at and at Bloomberg Quick Tape. This is a
Speaker 1: Bloomberg business clash, and I'm Karen Moscow. Equity is extending
Speaker 1: to clients as caution prevails before highly anticipated US inflation
Speaker 1: data later today. The dollar edging higher. We checked the
Speaker 1: markets every fifteen minutes throughout the trading day on Bloomberg.
Speaker 1: Right now, S and P futures are up about twenty
Speaker 1: points and down features up a hundred fifty four and
Speaker 1: nasday futures up thirties six then ten. Your treasury, that'll change,
Speaker 1: you'll three point eight nine percent. They yield on the
Speaker 1: two year four point to nine percent. NIMEX screwed oil
Speaker 1: is about half percent, or forty cents at eighty seven
Speaker 1: dollars sixty seven cents a barrel. Comic school is up
Speaker 1: three ten percent or five dollars ten cents a sixteen
Speaker 1: eighty two sixty announced. The euro point at nine seven
Speaker 1: three five against the dollar, British pound one point one
Speaker 1: one four six and the yen one forty six point
Speaker 1: seven eight. Bitcoin is at nineteen thousand dollars, down eight
Speaker 1: tens of a percent, and that's a Bloomberg Business Flash.
Speaker 1: Now here's Michael Barr with more on what's going on
Speaker 1: around the world. Michael Karen, thank you very much. The
Speaker 1: American public will get an opportunity to learn more about
Speaker 1: the attack on the US Capitol later today. This is
Speaker 1: expected to be the final hearing, as the House elect
Speaker 1: Committee investigating January six returns for another hearing today, it's
Speaker 1: first since July uh The committee is expected to present
Speaker 1: Secret Service documents sub poenut following a report that the
Speaker 1: agency text messages from the day of the insurrection were deleted.
Speaker 1: In the NHL, the Bruins beat the Capitols five two
Speaker 1: in Baseball's n l DS Playoffs. The Braves beat the
Speaker 1: Phillies three zip to even their series at a game
Speaker 1: of piece. The Padres beat the Dodgers five three to
Speaker 1: tie their series at one. One. Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quicktake, powered
Speaker 1: by more than seven hundred journalists and analyst and more
Speaker 1: than a hundred twenty countries. Michael bar this is Bloomberg, Nathan.
Speaker 1: Thank you, Michael. We're coming up to five forty nine
Speaker 1: on Wall Street Life. In the Bloomberg Interactive Brooker Studios.
Speaker 1: This is Bloomberg Day Break. Well, it's all about inflation
Speaker 1: this morning. We're also keeping an eye on the oil market.
Speaker 1: Prices there are edging higher with a new warning that
Speaker 1: OPEX production cut announcement could tip the global economy into
Speaker 1: a recession. Joining us now, Will Kennedy, Senior Executive at
Speaker 1: A for Energy and Commodities for Bloomberg News. Well, this
Speaker 1: was a pretty direct warning that came in overnight from
Speaker 1: the International Energy Agency. Tell us more about it and
Speaker 1: your read on the reaction we're seeing in the oil
Speaker 1: market this morning. Good morning. Yes, the world is still
Speaker 1: adjusting to the two million bowler cut that OPEC plus
Speaker 1: announced last week. It was a surprise to many people
Speaker 1: and it will tighten the oil market. And the argument
Speaker 1: that the i A Is making this morning is that
Speaker 1: tightening the oil market may drive prices higher. As you said,
Speaker 1: prices are now settled well above ninety dollars a bowl
Speaker 1: on the important benchmark um and that will have an
Speaker 1: effect on economic growth and probably accentuate the slowdown and
Speaker 1: make it harder to fight inflation, perhaps meaning tighter monete
Speaker 1: policy monetary policy than we would have had without it.
Speaker 1: So for all those reasons. The i A revised down
Speaker 1: it's growth forecast for oil consumption next year and made
Speaker 1: this warning about prospects for economy. As you say, we
Speaker 1: are still sort of trying to sort out the implications
Speaker 1: of this OPEC plus production kind I think last time
Speaker 1: we spoke, we talked about the fact that most OPEC
Speaker 1: producing nations aren't meeting their quotas anyway. So the two
Speaker 1: million barrel cut is kind of on paper, isn't it
Speaker 1: is this sort of turning into a self fulfilling prophecy
Speaker 1: that the idea is talking about here. Yeah, it won't
Speaker 1: be two million barrels, but it will be meaningful. So
Speaker 1: those countries that can product cut production in a in
Speaker 1: a big way, principally Saudi of Abit also the night
Speaker 1: of that moments perhaps Q. Wait, there's trios trio of
Speaker 1: Gulf countries that make up the core of OPEC. They
Speaker 1: will cut production, and I think estimates for the real
Speaker 1: cut probably look at somewhere between seven hundred thousands to
Speaker 1: million bollers a day. And in the market, which in
Speaker 1: some ways is already tight where there isn't a lot
Speaker 1: of spare production outside that Middle East region, that's a
Speaker 1: pretty meaningful adjustment which will probably keep oil prices high,
Speaker 1: and they would otherwise have been I guess adding to
Speaker 1: these concerns reporting that we're doing here Bloomberg News that
Speaker 1: the White House is starting to get worried that this
Speaker 1: push for a cap on prices for Russian oil could
Speaker 1: end up backfiring for them. How could all these developments
Speaker 1: play out in the oil market. Well, the price cap
Speaker 1: was a solution that Washington's, especially the U. S. Treasury,
Speaker 1: had been pushing as a way to punish Russia for
Speaker 1: its invasion Ukraine, to cap Russia's export revenues from oil
Speaker 1: without constraining the exports of Russian oil and there by
Speaker 1: causing a really bad spike and vices over the winter. Now,
Speaker 1: what that idea didn't perhaps take account of is Russian reaction,
Speaker 1: and it also seems opaque reactions. So one of the
Speaker 1: things going on in the background of OPEC policymaker's mind
Speaker 1: is the idea of a price cap. No matter what
Speaker 1: the lights and wongs are about punishing Russia, the very
Speaker 1: idea of a ice cap is a fairly extraordinary moved
Speaker 1: by consuming countries in the oil market, and how the
Speaker 1: oil market operates and there were many people in OPEC
Speaker 1: who are not comfortable with that idea. And then we
Speaker 1: look at Russia, and Russia clearly said last week that
Speaker 1: if the price cap comes into play, they may well
Speaker 1: retaliate by cutting their production. So there you see that
Speaker 1: there is a little bit of concern at the price cap.
Speaker 1: Policy designed to keep oil flowing to to cap Russian
Speaker 1: revenues while making sure that international prices don't get out
Speaker 1: of hand, may not have that impact and may politically
Speaker 1: contribute to a scenario where we get more constraints and
Speaker 1: supply and higher prices. Now, lot's of bright red warnings
Speaker 1: for the oil market as we watch green As far
Speaker 1: as the prices, girl, Will Kennedy of Bloomberg News, thanks
Speaker 1: for this great getting your insights this morning and just
Speaker 1: checking the prices now Karen name x Screwed is hired
Speaker 1: by a half percent at eighty seven seventy of Barrel
Speaker 1: as well mentioned Brent Is of ninety Well. Nathan is
Speaker 1: three on Wall Street. Time for our Bloomberg Law report.
Speaker 1: Let's get at the legal stories we are watching this
Speaker 1: morning from Bloomberg's Jeff Bellinger, Morgan Stanley Unit and other
Speaker 1: previous owners of Tops Friendly Markets will face claims that
Speaker 1: they rendered the grocery chain insolvent while paying dividends to themselves.
Speaker 1: Zoe Top Business and e Commerce fashion retailer will pay
Speaker 1: nearly two million dollars to New York State from mishandling.
Speaker 1: A twenty eighteen data breach. Personal information on more than
Speaker 1: forty five million shoppers was exposed. Royal Caribbean Cruises settled
Speaker 1: claims by a honeymooning couple who were burned while on
Speaker 1: an excursion to enactive volcano that erupted during their trip.
Speaker 1: Bloomberg Law everything you need, all on one legal research platform,
Speaker 1: including guidance analysis and Bloomberg market intelligence. Find out more
Speaker 1: at Bloomberg Law dot com. All right, Jeff, thanks, Now,
Speaker 1: another legal story we're watching. The Department of Education aation
Speaker 1: has not even put out the application to receive student
Speaker 1: loan forgiveness yet, but there are already five lawsuits challenging
Speaker 1: President Biden student loan relief plan. Two of those lawsuits
Speaker 1: are being brought by Republican attorneys general in Arizona, Arkansas, Iowa, Kansas, Missouri, Nebraska,
Speaker 1: and South Carolina. But the first hurdle for the plaintiffs
Speaker 1: starts before a judge can even get a question of
Speaker 1: whether Biden has the power to forgive billions of dollars
Speaker 1: in student debt. The plantiffs have to show they are
Speaker 1: standing or that the program will have them and a
Speaker 1: harm them rather in a concrete way. For more Bloombergy
Speaker 1: student Grosso speaks to Mark Canterrawitz, an expert in student
Speaker 1: loans and financial aid. It's hard to keep track of
Speaker 1: the lawsuits because they keep on coming. How tough will
Speaker 1: it be for the opponents to get over the standing
Speaker 1: issue that they'll be harmed by the plan? Well, I
Speaker 1: think that is the key issue that the plaintiffs are
Speaker 1: going to have a lot of difficulty demonstrating that they
Speaker 1: have the legal standing to file a lawsuit. First of all,
Speaker 1: you have to demonstrate that you are harmed, and there
Speaker 1: are certain categories of harm that don't establish legal standing.
Speaker 1: For example, taxpayers do not have the legal standing to
Speaker 1: file lawsuit against the federal government because they play two
Speaker 1: thousand seven U. S. Supreme Court ruling. And also bowers
Speaker 1: who do not qualify for student loan forgiveness can't demonstrate
Speaker 1: that they were harmed because you're not getting something that
Speaker 1: does mean you're worse off. Arizona said that this plan
Speaker 1: will harm the state's economy, increase its cost of borrowing,
Speaker 1: and limit the ability of the State Attorney General's office
Speaker 1: to recruit legal talent. That sounds like they're really reaching. Well,
Speaker 1: there's kind of throwing the entire kitchens think at this
Speaker 1: hoping that something makes it through to demonstrate legal standing,
Speaker 1: because once one of these laws who demonstrates legal standing,
Speaker 1: then the arguments they can bring about the legality of
Speaker 1: the president's plan are much more powerful. And I believe
Speaker 1: that if they can make it to the u. S.
Speaker 1: Supreme Court, the President's student will forgiveness plan will ultimately
Speaker 1: get blocked. But the challenges in demonstrating legal standing you
Speaker 1: have to establish that the farm was direct and not speculative,
Speaker 1: not vague, and most of these lawsuits don't satisfy that. Now,
Speaker 1: with the sixth State Attorney General lawsuit, they're trying to
Speaker 1: argue that the state is harmed because one aspect of
Speaker 1: the President's plan was allowing bowers in the f f
Speaker 1: E L program to consolidate their loans into the direct
Speaker 1: loan program, and that would then reduce the loan volume
Speaker 1: that the state manages and services in the FVL program,
Speaker 1: therefore causing financial harm. And that would have been a
Speaker 1: good argument except the U S part of Education responded
Speaker 1: by saying, Okay, the program bowers are no longer eligible.
Speaker 1: And this demonst rates a flawed legal strategy in the
Speaker 1: five lawsuits and the file to date, which is they
Speaker 1: jumped the gun. They decided to file lawsuit before the U.
Speaker 1: S Department of Education and given any loans or even
Speaker 1: publish the student Loan forgiveness application. And as Mark Hantra,
Speaker 1: with an expert in student loans and financial aid, speaking
Speaker 1: with the Bloomberg Student Grosso, catch more of that interview
Speaker 1: plus analysis of the latest legal news by subscribing to
Speaker 1: the Bloomberg Law Podcast or downloading the show at Bloomberg
Speaker 1: dot com slash podcast. Attorneys can find exceptional legal research
Speaker 1: and business development tools at Bloomberg Law dot com and
Speaker 1: on the Bloomberg terminal at b Law Go. And we
Speaker 1: have our top stories straight ahead on a day when
Speaker 1: futures are on the rise. This is Bloomberg