Speaker 1: Live from the Bloomberg Interactive Berger Studios is Bloomberg Day
Speaker 1: Right for Thursday, October two. Coming up this shower, Investors
Speaker 1: brace for this morning's reading on inflation. The International Energy
Speaker 1: Agency warns about global recession. US official sphere. They're planned
Speaker 1: to cap Russian oil prices made backfire, and the deadline
Speaker 1: approaches for the Bank of England to end its emergency
Speaker 1: bond buying program. New York's gunlog it's a reprieve from
Speaker 1: a federal appeals court. Plus Russia is at Ukraine's key
Speaker 1: area by Iranian made Kamikaze drone. I'm Michael war More.
Speaker 1: I'm trying stash our In sports, the Braves and Padres
Speaker 1: one of the nationally playoffs Yankees and Guardians scheduled to
Speaker 1: play game two tonight. That's all's train ahead on Bloomberg
Speaker 1: Daybreak on Bloomberg eleven, Free on New York, Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties,
Speaker 1: San Francisco, Sirius x M one nineteen and around the world.
Speaker 1: Old on Bloomberg Radio dot Com and via the Bloomberg
Speaker 1: Business APT And Good Morning, I'm Kared Moscow. I'm Nathan Haygar.
Speaker 1: Bloomberg Day Break brought to you by Interactive Brokers. Interactive
Speaker 1: Brokers charges marginal rates from three point five eights of
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Speaker 1: US dot Index. Future is on the rise this morning,
Speaker 1: six so went on Wall Street. We checked the markets
Speaker 1: every fifteen minutes throughout the trading day. On Bloomberg SMP
Speaker 1: future is up sixteen points down, futures have a hundred
Speaker 1: thirty five and NASDAG features up twenty two. The ten
Speaker 1: year treasury little change yield three point eight to nine percent,
Speaker 1: yield on the two year four point to nine percent.
Speaker 1: Nathan Karen Well, we wait for today's inflation reports. Stocks
Speaker 1: under the session at their lowest level since November twenty
Speaker 1: The S and P five hundreds declined for six straight
Speaker 1: days now. Victoria Green is chief investment officer at G
Speaker 1: Squared Private Wealth. The biggest thing an investor can do
Speaker 1: is don't panic or don't need jerk on data. We've
Speaker 1: seen wild moves off of some of these data releases
Speaker 1: or fed moves, and a lot of times it's a
Speaker 1: 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 Indix for September comes out at eight thirty am
Speaker 1: All Street time, and we get a preview from Bloomberg Economics.
Speaker 1: Corresponded Michael McKee. Only minor progress on inflation is forecast,
Speaker 1: with headline CPI rising at a faster rate in September,
Speaker 1: while core inflation slows but only to a still strong level.
Speaker 1: Housing is the biggest problem. Shelter makes up about a
Speaker 1: third of the overall basket of consumer prices and an
Speaker 1: even larger share of the core overall Rents have only
Speaker 1: started to stabilize. Some categories should see pullbacks, particularly used cars.
Speaker 1: Retailers are also discounting to clear out inventory ahead of
Speaker 1: the holidays. But the ultimate message to the Fed will
Speaker 1: be keep raising interest rates. Michael McKee, Bloomberg Daybreak. Alright, Mike, thanks,
Speaker 1: speaking of interest rates, more big hikes are on the
Speaker 1: way from the FED unless there's a significant change in
Speaker 1: the data. That's according to Fed Governor Michelle Bowman. If
Speaker 1: we do not see signs that inflation is moving down,
Speaker 1: my view continues to be that sizeable increases in the
Speaker 1: target range for the Federal funds rate should remain on
Speaker 1: the table. However, if inflation starts to decline, I believe
Speaker 1: a slower pace of rate increases would be appropriate. FED
Speaker 1: Governor Michelle Bowman's comment suggests she supports another seventy five
Speaker 1: basis point move when officials meet next month. Well, I
Speaker 1: s are on the Fed, Nathan, But starting tomorrow earnings
Speaker 1: come back into play. To Bank of America reports on Monday,
Speaker 1: and CEO Brian moynahan is out with optimistic words ahead
Speaker 1: of the results. He says consumers are in good shape
Speaker 1: and his bank only expects a slight recession in the US.
Speaker 1: They have this court positive real GDP next quarter just
Speaker 1: above zero positive and three straight quarters of negative and
Speaker 1: so effectively, depending what the NVR does, you know, that's
Speaker 1: that's a slight recession, but it's shallow. And Ryan 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 with the Bank of America CEO on Bloomberg
Speaker 1: Radio and Television. Bank of America at leastees a slight recession, Karen,
Speaker 1: the International Energy Agencies warning about a worldwide contraction. I
Speaker 1: A says OPEC decision to cut oil production threatens to
Speaker 1: push prices two levels that tipped the global economy into
Speaker 1: a downturn. In checking prices down NIMEX s crews up
Speaker 1: three tenths per cent at eighty seven dollars fifty eight
Speaker 1: cents of barrel meantime, Nathan President Biden finds himself walking
Speaker 1: a tiderope over the world's demand for oil and gas,
Speaker 1: and that says the administration considers a price camp on
Speaker 1: Russian oil. Bloomberg's Amy Morris has a look at the
Speaker 1: strategy from our newsroom in Washington. The idea is to
Speaker 1: keep enough Russian supplies on the global market to prevent
Speaker 1: a spike in oil prices, but the move by OPEC
Speaker 1: plus to slash production by two million barrels a day
Speaker 1: could undermine the plan. Sources tell Bloomberg that administration officials
Speaker 1: are worried Russia may retaliate by cutting off supplies Russia.
Speaker 1: President Putin has said he will not sell oil to
Speaker 1: any nation that participates in the price cap plan. Still,
Speaker 1: the US is going ahead with it, seen as the
Speaker 1: best choice among bad options to curb Russia's oil revenues.
Speaker 1: In Washington, I mayby Moore as Bloomberg Daybreak, Thanks Amy
Speaker 1: on Capitol Hill the House January six committees getting ready
Speaker 1: to present new evidence. Today's hearing will focus on Donald
Speaker 1: Trump's state of mind the day of the attack of
Speaker 1: the Capitol, Bloomberg said. Baxter has more. This is the
Speaker 1: last hearing before the midterms, and the committee is endeavoring
Speaker 1: to reinforce its contention that Donald Trump remains what they
Speaker 1: are saying is a clear and present danger to democracy.
Speaker 1: Congresswoman Zoe Loughran says what they discovered through their work
Speaker 1: this summer make clear Donald Trump's intentions, what he knew,
Speaker 1: what he did, what others did. She says there will
Speaker 1: be no live witnesses, but they will have testimony from
Speaker 1: new witnesses. In San Francisco, I'm at Baxter Bloomberg Daybreak.
Speaker 1: All Right, at Thanks in Europe this morning, it's all
Speaker 1: about the turmoil and financial markets. The deadline is nearing
Speaker 1: for the Bank of Land to end its bond buying program,
Speaker 1: and we go to London and get the latest of
Speaker 1: Bloomberg's un pots. Good Morning You and good morning Nathan
Speaker 1: and Karen. Investors having watching this story all week, but
Speaker 1: tomorrow afternoon, the UK's Central Bank will finally end its
Speaker 1: support for the country's bond markets. Ahead of that deadline,
Speaker 1: the government now appears to be at loggerheads with the
Speaker 1: Bank of England's. Asked about any fresh market turmoil, the
Speaker 1: government's chance that said that would be a matter for
Speaker 1: the governor in London. On you in Ports bloom Boke,
Speaker 1: day Break, You and thanks. In corporate news this morning,
Speaker 1: shares of applied Materials are down seven tenths per cent.
Speaker 1: The maker of chip manufacturing equipment is slashing its forecast
Speaker 1: for the fourth quarter, says new export regulations will hurt
Speaker 1: sales to China. And this update is run to you
Speaker 1: by b n Y Melons Pershing. Learn why the world's
Speaker 1: most sophisticated wealth management and institutional firms rely on Pershing
Speaker 1: to help them improve profitability, create efficiency, attract talent, and
Speaker 1: manage risk at pershing dot Com. Futures this morning are
Speaker 1: on the rise. SMP futures at fourteen points down. Futures
Speaker 1: have a hundred team NASDAG features up fifteen ten. Your
Speaker 1: treasury little change you'll three point nine percent they yield
Speaker 1: on the two year four point two and nine percent.
Speaker 1: Looking at the euro at point in nine seven two
Speaker 1: six against the dollar British found one point five three
Speaker 1: straight ahead, your latest local headlines plus the check of sports. Sam.
Speaker 1: This is Bloomberg. Thanks Karen. Six O seven on Wall
Speaker 1: Street sixty three degrees in Central Park. Still dealing with
Speaker 1: the accident investigation in Secaucus. Westbound three is closed at
Speaker 1: Harmon Metal Bull of our details come up in traffic.
Speaker 1: Michael Barr is here with more on what's going on
Speaker 1: in New York and around the world. Good morning, Michael,
Speaker 1: Good morning Nathan. A federal appeals judge put on hold
Speaker 1: of lower court ruling that's struck down many of New
Speaker 1: York's gun bands and public places as constitutional. The judge
Speaker 1: granted New York Attorney General Letitia James a temporary order
Speaker 1: preventing in October sixth decision by US District Judge Glenn
Speaker 1: Suttoby in Syracuse from going into effect, a three judge
Speaker 1: panel of the same Appeals Corps must still decide whether
Speaker 1: to state Sonaby's decision for the entire appeal process. Abortion
Speaker 1: providers in New York are seeing such an influx of
Speaker 1: pregnant women from other states that they are struggling financially
Speaker 1: to meet demand. Governor Kathy Hokeles has the state is
Speaker 1: giving more than thirteen million dollars to organizations that operate
Speaker 1: clinics throughout New York. They include hospital based providers, independent clinics,
Speaker 1: as well as many who are receiving state assistance for
Speaker 1: the very first time because the need is that dire.
Speaker 1: Governor Hocle says the state will protect a woman's right
Speaker 1: to a safe and legal abortion. Meanwhile, the new poll
Speaker 1: shows Governor Hocle retaining a lead over her opponent in
Speaker 1: the gubernatorial race. According to Amerist College Pole, hocal leads
Speaker 1: a Republican challenger, Congressman LEAs Elden, by ten points. It's
Speaker 1: the narrowest in the New York governor's race in about
Speaker 1: three decades. New York's Health commissioner says monkey pox is
Speaker 1: no longer the threat to the city that it initially was.
Speaker 1: Dr Ashewan Bassan, we have turned a corner that I
Speaker 1: hope indicates that we now have the upper hand on
Speaker 1: this outbreak. Meanwhile, Dr Vasan says asked for polio traces
Speaker 1: of the disease were found in wastewater samples in the
Speaker 1: city and across the state. For the fourth day in
Speaker 1: a row, residence of Key were awakened to the sound
Speaker 1: of Air AID sirens as Russian bombardment of Ukraine's critical
Speaker 1: infrastructure continues. What he's saying that a village was hit
Speaker 1: overnight by a so called kamikaze drone, probably supplied by Iran.
Speaker 1: A Connecticut jury has ordered conspiracy theorist Alex Jones to
Speaker 1: pay nine sixty five million dollars to the relatives of
Speaker 1: Sandy Hook Elementary School shooting victims and an FBI agent.
Speaker 1: They said Jones tormented their lives by promoting the lie
Speaker 1: that the rampage was a hoax. Robert Parker lost his
Speaker 1: daughter Emily in the shooting. I couldn't be more proud
Speaker 1: to stand here and with all of these people, and
Speaker 1: I've really missed my wife and daughters right now they
Speaker 1: can't be here with me. Robert Parker's daughter was one
Speaker 1: of twenty children and six adults killed in the massacre.
Speaker 1: Global News twenty four hours a day on air, rand
Speaker 1: on Bloomberg Quick Take, powered by more than journalists and
Speaker 1: analysts more than a hundred twenty countries. Michael Barr, this
Speaker 1: is Bloomberg, Nathan, Thank you, Michael. Almost six ten on
Speaker 1: Wall Street. Time for the Bloomberg Sports Update with John
Speaker 1: stash Our. All right, Nathan, A little unusual schedule in
Speaker 1: the American League Division Series. Yankees and Guardians with a
Speaker 1: night off in between the two games of the stadium
Speaker 1: schedule to resume their series tonight, rains in the forecast.
Speaker 1: They can't play tonight. They'll play tomorrow with Nestor Cortez
Speaker 1: going against Cleveland Shane Baber. Both nlds or tied to one.
Speaker 1: Atlanta shut out the Phillies three nothing behind Kyle Right
Speaker 1: twenty one game, winning the regular season. The Padres beat
Speaker 1: the Dodgers by the same five to three score that
Speaker 1: l A won. The Openers bought, Nix and Nets getting
Speaker 1: ready to tip off their seasons next week. Nicks lost
Speaker 1: at Indiana, the Nets one in Milwaukee. Ben Simmons acquired
Speaker 1: last season, but he never played. He is playing now
Speaker 1: and while Simmons doesn't score much last night, he had
Speaker 1: tennisis eight emails. Can the Giants keep it going? Off
Speaker 1: to us surprising four and one start? They host Baltimore
Speaker 1: Sunday as new coach Brian day Ball continues to be
Speaker 1: impressed by his quarterback Daniel Jones. And he comes in.
Speaker 1: He does a great job with the players around him
Speaker 1: of of leading game, of of helping them with the offense.
Speaker 1: And you know, each week I think you get a
Speaker 1: little bit more comfortable again for five weeks into really
Speaker 1: live competition. Um so, I think you learn a lot
Speaker 1: about players, not just Daniel, but everybody. And he's done.
Speaker 1: He's done a good job for us. Jones led the
Speaker 1: Giants to that upset win in London over Green Bay,
Speaker 1: and now the Jets visit Green Bay this Sunday. Aaron
Speaker 1: Rodgers heard his thumb in that game with the Giants.
Speaker 1: They hit him on that last play. He didn't practice.
Speaker 1: He is gonna play Sunday as rookie Skyler Thompson faced
Speaker 1: the Jets last week to a time to below. The
Speaker 1: remains out in Miami with the kid cushion. The Dolphins
Speaker 1: are gonna start Thompson against Minnesota Big Games Sunday night,
Speaker 1: Dallas at Philadelphia. The Cowboys expected to stick with Cooper Rush.
Speaker 1: He's four no Dak Prescott's does that with a thumbing dream.
Speaker 1: Johns dashwar of Bloomberg Sports, Nathan, thank you, john SMP
Speaker 1: futures are higher by fourteen point. Stuff features up a
Speaker 1: hundred sixteen nants that features up nineteen points ahead of
Speaker 1: cp HY data. Bloomberg's Michael McKee previews the numbers. Next.
Speaker 1: This is Bloomberg Bloomberg eleven three oh weather rainy, breezy
Speaker 1: today with a high near seventy degrees. It will be
Speaker 1: mostly sunny up for sixties tomorrow. Same deal Saturday. Clouds
Speaker 1: will increase by Sunday with high still in the upper sixties.
Speaker 1: Right now sixty three in Central Park Markets. Headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot
Speaker 1: com and Bloomberg Business at and at Bloomberg Quicktape. This
Speaker 1: is a Bloomberg Business slash and I'm Karen Moscow. This
Speaker 1: updates brought to you by Interactive Brokers. Interactive Brokers clients
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Speaker 1: US stock index futures on the is this morning ahead
Speaker 1: of key US inflation data that could determine how much
Speaker 1: further the federal reserves policying tightening cycle will run, and
Speaker 1: we check the markets every fifteen minutes throughout the trading day.
Speaker 1: On bloomberg S and P future is up about fifteen
Speaker 1: points down. Futures have a hundred thirteen NASTAG futures up
Speaker 1: eighteen the decks in Germany's up six tenths of up percent.
Speaker 1: Ten year treasury down one thirty second heal three point
Speaker 1: eight nine percent. They yield on the two year four
Speaker 1: point to nine percent. Ninemex screwed oil is up tenth
Speaker 1: of upper cent or ten cents at eighty seven dollars
Speaker 1: thirty eight cents of barrel call makes gold up a
Speaker 1: quarter percent or four dollars fifty cents at sixteen eighty two. Announced.
Speaker 1: The euro point nine seven three one against the dollar.
Speaker 1: British found one point one five nine, and they had
Speaker 1: one forty six point eight one and Bitcoin down one
Speaker 1: percent at eighteen thousand, nine hundred dollars. And that's a
Speaker 1: Bloomberg business flash. Now here's Michael Barr with more on
Speaker 1: what's going on around the world. Michael Karen, thank you
Speaker 1: very much. The House Select Committee investigating the January sixth
Speaker 1: attack on the Capitol will hold its final hearing today.
Speaker 1: Members are promised substantial new footage and significant witness testimony.
Speaker 1: Since the last hearing, multiple members of Trump's cabinet have
Speaker 1: testified behind closed doors. Millions of Social Security recipients will
Speaker 1: soon learned just how high a boost they'll get in
Speaker 1: their benefits next year. The increase to be announced today
Speaker 1: is expected to be the highest and forty years, maybe
Speaker 1: up to nine. In the NHL, the Bruins beat the
Speaker 1: Capitols five two. In Baseball's n LDS Playoffs, the Braves
Speaker 1: beat the Phillies three zip to even their series at
Speaker 1: a game of piece. The Padres beat the Dodgers five
Speaker 1: three to tie their series at one. One. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven hundred journalists and analysts
Speaker 1: more than a hundred twenty countries. Michael Barr And this
Speaker 1: is Bloomberg, Nathan. Thank you, Michael. We're coming up to
Speaker 1: six twenty on Wall Street Life from the Bloomberg Interactive
Speaker 1: Brokers Studios. This is Bloomberg Daybreak. It's brought to you
Speaker 1: by s e I imagine your asset management firms operation
Speaker 1: infrastructure as a competitive advantage. Let se I show you
Speaker 1: how at se I c dot com slash I m s.
Speaker 1: So we're just about two hours, ten minutes away from
Speaker 1: the latest reading on inflation. September consumer prices do out
Speaker 1: at eight thirty Wall Street time. Ahead of it, We're
Speaker 1: joined this morning by Bloomberg International Economics and Policy correspondent
Speaker 1: Michael McKee. So, Mike, the consensus from the economists we've
Speaker 1: surveyed calls for a dip in the headline, but a
Speaker 1: slight increase in the core. Where's that going to leave
Speaker 1: the FED? Leaves the Fed where they are today. We've
Speaker 1: talked about how the all CPI is all important, but
Speaker 1: it's not really in the sense that the Fed is
Speaker 1: pretty much decided they're going to do seventy five basis
Speaker 1: points because we see the tight labor market, they see
Speaker 1: energy prices with the possibility of going up again after
Speaker 1: OPEC plus, and so they've pretty much told us that's
Speaker 1: what they want to do. The real question is what
Speaker 1: do they do after that at the December meeting, And
Speaker 1: that will depend on the trajectory of inflation, particularly core inflation,
Speaker 1: which according to the economist we've surveying, is likely to
Speaker 1: go up this month UH, at least a slightly slower pace,
Speaker 1: but way above where the FED wants to be. And
Speaker 1: of course that is the metric that the FED is
Speaker 1: focused like a laser on. Where what Let's get a
Speaker 1: little bit deeper into the numbers that we're expecting though,
Speaker 1: where are we expecting to see potential signs that we
Speaker 1: could have hit peak inflation? Well, energy is going to
Speaker 1: be a big drag on the index once again because
Speaker 1: gasoline prices did go down in September. But the concern
Speaker 1: is what about the ancillary things that you profinde by
Speaker 1: jet fuel and heating oil. UH? Did those go up
Speaker 1: or down? And what about natural gas? Uh? The problem
Speaker 1: is there are just as many things that could go down.
Speaker 1: Air pairs because the summer travel season is over and
Speaker 1: use cars. But beyond that, a lot of service services
Speaker 1: are going up in price. Uh. And that's what worries
Speaker 1: defend at this point is that there was supposed to
Speaker 1: be a handoff two services and services would slow down,
Speaker 1: but they're not at the moment. Well, how does that
Speaker 1: plan to inflation expectations? We got the Fed minutes yesterday
Speaker 1: and that's seemed to be a pretty big concern for
Speaker 1: central anchors. It's been their concern overall. It's underlying belief
Speaker 1: that inflation expectations shape future inflation. If you think that
Speaker 1: inflation is going to keep going up, you're going to
Speaker 1: ask your boss for a bigger raise. But so far,
Speaker 1: surveys show inflation expectations are relatively contained. We're waiting until
Speaker 1: Friday to get the latest University of Michigan survey, but
Speaker 1: the New York Fed survey came out earlier this week,
Speaker 1: and so that inflation over a one year period, expectations
Speaker 1: had dropped. Over a three year period, they've gone up
Speaker 1: attempts so not very much. And market purpising tips at
Speaker 1: this point, yields are still restrained. There's not a feeling that,
Speaker 1: at least how Wall Street, but the Fed isn't going
Speaker 1: to get this under control. The only question is how
Speaker 1: is when? Of course, when it comes to consumer prices,
Speaker 1: one of the biggest pieces in the basket is housing.
Speaker 1: When are we going to start to see the effect
Speaker 1: of higher interest rates on housing prices that have been
Speaker 1: so high for quite some time? Unfortunately, that's going to
Speaker 1: take a while. The housing component of the CPI has
Speaker 1: been going up about seven tenths per cent per month
Speaker 1: for a while, and let's think if that's going to
Speaker 1: continue into next year because our prices turned over so slowly. Uh,
Speaker 1: they're only now just beginning to fall with the impact
Speaker 1: of higher mortgage rates. And it will take a while
Speaker 1: because you don't buy a house every day for that
Speaker 1: to get into the CPI. Now, the FAT knows that.
Speaker 1: And while it may lead to slightly higher CPI numbers
Speaker 1: that worry the public or worry Wall Street, it won't
Speaker 1: worry the FED as much as long as they see
Speaker 1: the trajectory is down. Only about thirty seconds left here, Mike.
Speaker 1: But are we expecting that the higher and expected producer
Speaker 1: prices that we saw yesterday to have a read through
Speaker 1: into this morning's print. They don't have a direct read
Speaker 1: through their middlemen in the way that have their own markups, etcetera.
Speaker 1: But it does tell you the trajectory of inflation hasn't
Speaker 1: changed all that much yet. And yesterday I spoke with
Speaker 1: a number of economists who said, basically, all it's telling
Speaker 1: us is this is going to continue. Yeah, that's been
Speaker 1: the drumbeat from Fed officials. Thanks Mike, as always, Bloomberg
Speaker 1: International Economics and Policy correspondent Michael McKee, who will be
Speaker 1: back with us throughout the morning as we await those
Speaker 1: CPI numbers. He'll be breaking them down for us at
Speaker 1: eight thirty am Wall Street time. So check back with
Speaker 1: Bloomberg Radio and Television for complete coverage of the inflation
Speaker 1: story and its effect on markets. Futures right now are
Speaker 1: moving higher ahead of cp I s, and P futures
Speaker 1: are up sixteen point, Staff futures up a DRED twenty five,
Speaker 1: and NASTAC futures are higher by twenty three points. Little
Speaker 1: change to the tenure Treasury the yield their three point
Speaker 1: eight nine per cent. And you're listening to Bloomberg Daybreak,
Speaker 1: Bloomberg eleven three oh weather today is gonna be the
Speaker 1: rainy day. We'll get up to seventy degrees. Sunshine returns tomorrow,
Speaker 1: u last into the weekend, with highs each day in
Speaker 1: the upper sixties. Right now sixty three degrees in Central Park.
Speaker 1: Broadcasting live from the Bloomberg Interactive Broker Studio in New York,
Speaker 1: Bloomberg E Living free to Washington, d C, Bloomberg nine
Speaker 1: to Boston, Bloomberg one O six one to San Francisco,
Speaker 1: Bloomberg nine sixty to the Country, Sirius XM Chado one
Speaker 1: nine and around the globe the Bloomberg Business and Bloomberg
Speaker 1: Radio dot com. This is Bloomberg Daybreak six thirty on
Speaker 1: Wall Street. Good morning, I'm Nathan Hagar and I'm Karen Moscow.
Speaker 1: We are just about three hours away from the open
Speaker 1: of US trading. Time for the five things that you
Speaker 1: need to notice start your a Brought to you by
Speaker 1: Interactive Brokers ib k R. Event Trader offers a new
Speaker 1: way to trade futures. Use it end contracts to trade
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Speaker 1: First US futures are higher ahead of today's inflation report.
Speaker 1: Stocks entered the session at their lowest levels in November
Speaker 1: of Economist Hugh Johnson tells US it's unclear if we're
Speaker 1: nearing a bottom. If we get into a recession in
Speaker 1: the first and second quarter, which I think we're gonna do,
Speaker 1: that's gonna be set up the time at which we're
Speaker 1: gonna start to get better news or news that the
Speaker 1: recession is going to end and the recovery is going
Speaker 1: to begin, maybe news that the Federal Reserve is going
Speaker 1: to take its put off the brake, and under those
Speaker 1: conditions you'll get a cern in the stock market. Economist
Speaker 1: Hugh Johnson says he anticipates a hard landing and a
Speaker 1: US recession as if the FAN holds to its current
Speaker 1: rate hike path. Well, Karen, the Fed appears to be
Speaker 1: sticking to that path. According to Minneapolis President Neil cash Cary,
Speaker 1: the bar for such a change is very high because
Speaker 1: we have not yet seen much evidence that the underlying inflation,
Speaker 1: the services inflation, the wage inflation, the labor market, that
Speaker 1: that is yet softening, and so I think we're quite
Speaker 1: a ways away from anything like that. Minneapolis Fed President
Speaker 1: Neil cash Cary made the comments at a town hall
Speaker 1: event in Wisconsin, September. CPI readings do out at eight
Speaker 1: thirty am Wall Street Time. Stick with Bloomberg Radio and
Speaker 1: Television for complete coverage all morning. Another recession called now Nathan.
Speaker 1: Bank of America CEO Brian moynahan says his bank expects
Speaker 1: a shallow contraction in the US. The consumers basically have
Speaker 1: more money and accounts find multiples and they did pre pandemic.
Speaker 1: They're earning more money, their credit qualities as high as
Speaker 1: ever been. They have more excess capacity on their cabarring
Speaker 1: than they've had de delinquencies are very low. Prian Monahan
Speaker 1: spoke at the Institute of International Finance meeting in Washington State.
Speaker 1: Tuned for more from Moynahan on Monday when we speak
Speaker 1: live at the Bank of America CEO on Bloomberg Radio
Speaker 1: and Television. I meantime caring the international energy agencies warning
Speaker 1: the global economy could enter a recession. That's after OPEX
Speaker 1: decision into sharply cut oil production. Checking prices now nime
Speaker 1: X crews moving lower now down a tenth percent at
Speaker 1: eighty seven dollars eighteen cents a barrel, and in Washington
Speaker 1: today Nathan the White House is considering a price cap
Speaker 1: on Russian oil, but sources style Bloomberg administration officials are
Speaker 1: worried Russia may retaliate by cutting off supplause. Russian President
Speaker 1: Vladimir Putin has said he won't sell oil to any
Speaker 1: nation that participates in the price cap plan. And as
Speaker 1: the five things that you need to notice start your day,
Speaker 1: brought to you by Interactive Brokers, trying ahead your latest
Speaker 1: local headlines, plus a check of sports. And this is Bloomberg.
Speaker 1: Thanks Scaring sixte on Wall Street sixty two degrees now
Speaker 1: in Central Park, got an accent on the southbound to
Speaker 1: Conic at Route eighty four. Details coming up in traffic.
Speaker 1: First Michael Barr with what else is going on in
Speaker 1: New York and around the world. Good morning Michael, Good
Speaker 1: morning Nathan. A federal appeals court allowed New York to
Speaker 1: continue in forcing its new gun laws it considers a
Speaker 1: lower court ruling that would block key provisions that This
Speaker 1: vision from the Second U. S. Circuit Court of Appeals
Speaker 1: came six days after a federal district judge in Syracuse
Speaker 1: declared multiple portions of the law unconstitutional. In place to
Speaker 1: temporary behold on them, Attorney General Letitia James said she
Speaker 1: was pleased the law with stay in effect. Abortion providers
Speaker 1: in New York State are seeing an influx of pregnant
Speaker 1: women from other states. Governor Kathy Oakele says the state
Speaker 1: is giving more money in order to keep up with
Speaker 1: financial demand. Day, I'm proud to announce thirteen point four
Speaker 1: million dollars of grants going to abortion providers, fifty fifty
Speaker 1: new organizations, and collectively they operate a hundred twenty seven
Speaker 1: clinics together. Governor Hokel says the state will protect a
Speaker 1: woman's right to a safe and legal abortion. A Newmeris
Speaker 1: College polls shows Governor Hokel as a ten point lead
Speaker 1: over her Republican challenger, Congressman Lee Zelden, and the gubernatorial race.
Speaker 1: The House Select Committee investigating the January six attack on
Speaker 1: the Capitol will hold its final hearing today. Since the
Speaker 1: last hearing, multiple members of Trump's cabinet have testified behind
Speaker 1: closed doors, along with Jenny Thomas, the wife of Supreme
Speaker 1: Court Justice Clarence Thomas. She told the committee she still
Speaker 1: believes the election was stolen, but insisted she had nothing
Speaker 1: to do with violence. On January six, Ukraine's Capitol region
Speaker 1: has been struck by Iranian made kama Kaze drones. Kiev's
Speaker 1: regional directors have The strike early today occurred in the
Speaker 1: area around the capitol. Meanwhile, NATO defense ministers a meeting
Speaker 1: again in Brussels today. They're gathered to discuss more aid
Speaker 1: to Ukraine as Russia continues it's Rajah missiles. NATO Secretary
Speaker 1: General Yen Stoltenberg. We will stand by Ukraine for as
Speaker 1: long as it takes it, will step up our support,
Speaker 1: and in particular we will provide more air defense systems
Speaker 1: to Ukraine. NATO Jenn Stoltenberg. A Connecticut jury decided that
Speaker 1: Alex Jones must pay nine hundred sixty five million dollars
Speaker 1: and damages to families and an FBI agent ravaged by
Speaker 1: the Infull Wars founders lie at the Sandy Hook Elementary
Speaker 1: School massacre was a hoax. 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 countries. Michael Barr and this is Bloomberg, Nathan,
Speaker 1: Thank you, Michael. Almost six thirty six on Wall Street
Speaker 1: John Stasher has the Bloomberg Sports Update. NAFAN Yankees and
Speaker 1: Guardians had last night off scheduled to play game to
Speaker 1: tonight at the Stadium, then a tomorrow off. Yanks, we're
Speaker 1: gonna stick with a three man rotation in that format.
Speaker 1: If they can't play tonight through to the expected rain
Speaker 1: and play game to tomorrow, they would have to go
Speaker 1: to a fourth starter if the series is extended. Yank Yanks,
Speaker 1: of course won the opener the game two starters you
Speaker 1: know tonight or tomorrow. Nestor Cortez, Cleveland, Stean Beaver and
Speaker 1: LDS Phillies and Braves. After a three hour rain delay
Speaker 1: in Atlanta and scoreless until the sixth inning, Atlanta scored
Speaker 1: three times in the sixth one three nothing, only seven
Speaker 1: hits in this game, the field's first lost the postseason
Speaker 1: in l A. San Diego got home runs from Manny
Speaker 1: Machano Jake Croninworth beat the Dodgers five three l A
Speaker 1: at three solo home runs in the lost. Both these
Speaker 1: series are now tied at one. Preseason NBA Nicks lost
Speaker 1: in Indiana r J. Barrett twenty one points twenty three
Speaker 1: for Kyrie Irving and the next win at Milwaukee. Regular
Speaker 1: season starts next week. Islanders begin their season tonight. They
Speaker 1: host Florida. The Devil's play Game one at Philadelphia. The
Speaker 1: one and oh Rangers start a road trip tonight in Minnesota.
Speaker 1: The Jets Sunday take their two game winning streak to
Speaker 1: Green Bay, facing Aaron Rodgers. Rob Sella coaches clearly improved Jets.
Speaker 1: I do think we're better than a war year ago, obviously,
Speaker 1: but you know it, it still comes back to us,
Speaker 1: and you know it's it's exciting just to be able
Speaker 1: to go out there and play a championship team, which
Speaker 1: is what which is what they are, championship team, the
Speaker 1: Hall of Fame quarterback um. But it still comes back
Speaker 1: to us and and performing to the best of our
Speaker 1: Theolott Hackers last Sunday in London blew that big league
Speaker 1: loss of the Giants, who are back home now going
Speaker 1: for three wins in a row Sunday taking on Baltimore.
Speaker 1: Week six begins tonight with Washington at Chicago. Actually we're
Speaker 1: Bloomberg Schools. Nathan, Sorry, John, thank you. It is sixty
Speaker 1: seven on Wall Street. Time to take a look at stock.
Speaker 1: Some of the names moving in the pre market with
Speaker 1: Bloomberg Radio and TV Markets correspondent Kretty Gupta watching earnings
Speaker 1: news cross the Bloomberg terminal, including this morning from Delta Airlines. Yeah,
Speaker 1: a lot of anticipation here. Specifically when you're looking at Delta.
Speaker 1: This has everything to do with the business travel rebound.
Speaker 1: Nathan D. A. L is the taker you want to
Speaker 1: keep an eye on pre market. It is trading up
Speaker 1: by five point two percent, and it's that business travel
Speaker 1: that actually gives you more margins in the airline space.
Speaker 1: So the idea here being that if Delta is actually
Speaker 1: able to not only be casual positive, but make up
Speaker 1: for some of the losses that it's been having in
Speaker 1: the last two years, given that business travel, then you
Speaker 1: will have actually that perhaps flow into the rest of
Speaker 1: the sector as well. American Airlines, for example, yesterday came
Speaker 1: out or I once say two days ago came out
Speaker 1: with a similar call, not on business travel, but they
Speaker 1: did say that they were actually doing much much better
Speaker 1: when it comes to their forecast. They were lifted their
Speaker 1: own forecast for the end of the year or up
Speaker 1: two point four percent. Looks like American Airlines following in
Speaker 1: Delta's path this morning and as far as earnings go.
Speaker 1: What are you looking at in terms of analysts recommendations
Speaker 1: this morning, creating, well, there's a lot going on. I
Speaker 1: want to start off with some of these broadcast companies
Speaker 1: because Nathan two years and eyes much happiness. Broadcast is
Speaker 1: not dead. And yeah, it's always goods to hear that
Speaker 1: c M C A S C s A excuse me,
Speaker 1: is the ticker that you want to keep an eye on?
Speaker 1: These are This is calm cash shares UM and all
Speaker 1: tise as well. City upgrading the stocks to a buy
Speaker 1: from a neutral, saying it sees a quote silver lining
Speaker 1: to recent underperformance for cable companies broadly in their ability
Speaker 1: to generate annual cash flow. Media broadly has been, of
Speaker 1: course under pressure. City looks like it's kind of the
Speaker 1: contrarian take here and saying, well, actually, maybe you should
Speaker 1: bet on these stocks as c M C S A
Speaker 1: for Comcast up about two and a half percent, and
Speaker 1: we left to look at all tis as well. A
Speaker 1: t U S is the ticker there though, shares up
Speaker 1: a whopping five point seven percent. As long as people
Speaker 1: keep hiding the scissor, all right, And there's also a
Speaker 1: new sign of pressure in the chip industry. We've been
Speaker 1: talking about this, of course for days. We absolutely have.
Speaker 1: So Applied Materials is the one that actually in put
Speaker 1: out in earnings warning down one point two percent in
Speaker 1: the pre market. A M. A. T is your taker,
Speaker 1: and it's it's kind of having a ripple effect across
Speaker 1: all of the chip stocks. You want to keep an
Speaker 1: eye on companies like LAMB Research for example, r L
Speaker 1: r c X excuse me, is the taker those years
Speaker 1: actually up about four tenths of one percent, but if
Speaker 1: significantly paired the games earlier in the session, So you
Speaker 1: do want to keep an eye on those chip stocks.
Speaker 1: It looks like there's a lot of pain when it
Speaker 1: comes to how they're positioning for the future. Applied Materials
Speaker 1: was following kind of the lead of Intel, which yesterday
Speaker 1: it said it's actually pausing, it's hiring, it's going to
Speaker 1: lay off some of its workers because of PC demand
Speaker 1: as well. Applied Materials no exception there. Comprehensive as always,
Speaker 1: pretty thank you both for Gradi on TV Markets correspondent
Speaker 1: Pretty Gupta watching the movers in the pre market. As
Speaker 1: for stocks as a whole, they're moving a higher. SMP
Speaker 1: future dro up eighteen points, stown futures up a D
Speaker 1: thirty seven. Nastac features are higher by thirty points ten.
Speaker 1: Your treasury is up one thirty second yield three point
Speaker 1: eight nine percent, the yield on the two year four
Speaker 1: point to eight as we await that inflation data now
Speaker 1: do out in less than two hours. Stay with us.
Speaker 1: You're listening to Bloomberg Day right, Bloomberg eleven three oh
Speaker 1: Weather rainy, breezy today with a high near seventy degrees.
Speaker 1: Sunshine returns tomorrow. Stays with us for most of the weekend.
Speaker 1: We'll have highs tomorrow, Saturday and Sunday in the upper
Speaker 1: sixties currently sixty three degrees. Markets, headlines and breaking news
Speaker 1: twenty four hours a day at Bloomberg dot com, the
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Speaker 1: Brokers for lowist cost global trading and turn and key
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Speaker 1: I A future is on the rise this morning. Let's
Speaker 1: go to the first Word Breaking news desk for today's
Speaker 1: morning call, and here's Bill Maloney, Bill, good morning, Hey,
Speaker 1: good morning, Careen. That's right. US fugues with a bid
Speaker 1: right now with Doubt futures up a hundred and fifty
Speaker 1: two points, SCAPES Game twenty and NASDA futures are higher
Speaker 1: by thirty seven. The US ten yield at three point
Speaker 1: nine percent, Gold is hired by two, Oil is little changed,
Speaker 1: and Bitcoin is sinking by two point nine percent. Hong
Speaker 1: Kong fell one point nine percent overnight, while up markets
Speaker 1: are trading in the green and back in the US
Speaker 1: on the Economic Frinday thirty, the consumer price in next
Speaker 1: and initial job as claims Regarding earnings this morning, a
Speaker 1: black rockyps beat estimates and Delta is trading higher by
Speaker 1: five percent after its numbers. And wrapping things up, Colgate
Speaker 1: Palm all have raised Overwight at JP Morgan, I'll t
Speaker 1: s U s A raised to buy its City Group
Speaker 1: and Bologen was raised to buy over at Steve Hole
Speaker 1: Live on the First Breaking News Desk, gom Bill Maloney,
Speaker 1: care right, Bill, thank you to hear live breaking news
Speaker 1: over your Bloombery Times Squawk on your terminal s U
Speaker 1: U A w K. Just a little more on black
Speaker 1: Rock here now black Rocks amsets under management. They fell
Speaker 1: six in the third quarter, along with equity and vawn markets,
Speaker 1: as central banks continued raising interest rates to counter searching inflation.
Speaker 1: The firm oversaw seven point nine six trillion dollars as
Speaker 1: of September thirty. That was the lowest since that's a
Speaker 1: Bloomberg business flash. Now here's Michael Barr with more on
Speaker 1: what's going on around the world. Uncle Karen, thank you
Speaker 1: very much. The American public will get an opportunity to
Speaker 1: need to learn more about the attack on the US
Speaker 1: Capitol later today. This is expected to be the final
Speaker 1: hearing as the House elect Committee investigating January sixth returns
Speaker 1: for another hearing today, it's first since July. The committee
Speaker 1: is expected to present Secret Service documents subpoena following a
Speaker 1: report that the agency's text messages from the day of
Speaker 1: the riot were deleted. In the NHL, the Bruins beat
Speaker 1: the Capitol's five too. In Baseball's n LDS playoff, the
Speaker 1: Braves beat the Phillies three ZIP to even their series
Speaker 1: at a game apiece. The Padres beat the Dodgers five
Speaker 1: three to tie their series at one one Global News
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven hundred journalists and analysts
Speaker 1: in more than a hundred twenty countries. I'm Michael Barr,
Speaker 1: and this is Bloomberg. Karen. Allright, michaelbar thank you. Six
Speaker 1: forty nine on Wall Street, we turned to news and
Speaker 1: science and technology Now with the Bloomberg and j I T.
Speaker 1: Stammer Report, brought to you buy New Jersey Institute of
Speaker 1: Technology n j I T makes industry ready engineers and
Speaker 1: more than twenty fields. If it's engineering, it's at n
Speaker 1: j I T. What will you make at n j
Speaker 1: I T. Learn more at n j I T DOT
Speaker 1: A d U And here's what's making news and science, technology,
Speaker 1: engineering and math. I new electric car company that brings
Speaker 1: together too big names in Japanese business, Honda and Sony
Speaker 1: officially kicked off today. The electric vehicle from Sony Honda
Speaker 1: Mobility will go on sale in in March. Sony Group
Speaker 1: and Han agreed to set up the fifty fifty joint venture,
Speaker 1: but the idea of bringing together Honda's expertise and Auto's
Speaker 1: mobility technology and sales with Sony's imaging, network, sensor and
Speaker 1: entertainment expertise. Amazon dot Com is shutting down a virtual
Speaker 1: tour feature called Amazon Explore. It's the latest belt tightening
Speaker 1: move by the online giant as it adjust to slowing sales.
Speaker 1: Amazon launched Explore in targeting those suffering cabin fever during
Speaker 1: pandemic lockdowns. Users could pay seven dollars fifty cents for
Speaker 1: a fifty minute guided tour of sites such as animal
Speaker 1: sanctuaries in Costa Rica, or fifty dollars for an hour
Speaker 1: long virtual stroll through the markets of venice and Cryptocurrencies
Speaker 1: may have crashed this year, but they remain a digital
Speaker 1: cash machine for one potent constituency, hackers. According to blockchain
Speaker 1: specialist Chain Analysis, at least seven eighteen million dollars has
Speaker 1: been stolen so far in October alone, taking the gross
Speaker 1: tally for the year past three billion. And that's a
Speaker 1: Bloomberg and j I t Stem report. Nathan, Thank you, Karen.
Speaker 1: We are live from the Bloomberg Interactive Brokers studios where
Speaker 1: it's six fifty one on Wall Street time now to
Speaker 1: check what's going on in d C. Some of the
Speaker 1: top stories in our nation's capital, include the January six
Speaker 1: committee to focus on Trump's state of mind and what
Speaker 1: maybe it's a final public hearing US officials hearing a
Speaker 1: camp on Russian oil prices could fail after opex move
Speaker 1: and a couple moves from the Biden administration on the
Speaker 1: immigration front. Let's bring in Bloomberg Government congressional reporter Jack
Speaker 1: Fitzpatrick for more on these stories. So, Jack, what should
Speaker 1: we be watching for in this afternoon's possibly final House
Speaker 1: January six committee hearing. Yeah, we don't know if it'll
Speaker 1: be final or exactly when they're gonna wrap things up,
Speaker 1: but today's hearing is going to take a bit of
Speaker 1: a broader view. Uh, It's it's not going to focus
Speaker 1: on just one specific time period. Uh. An Aid with
Speaker 1: the committee told reporters that some of the information that
Speaker 1: comes out is going to be pre January sixth, pre
Speaker 1: election in fact, uh, and some will be after January
Speaker 1: six They are going to focus on former President Donald
Speaker 1: Trump's role in the events in the build up. There
Speaker 1: will the information on, uh, the the developing understanding on
Speaker 1: January sixth of the level of violence that occurred. Uh,
Speaker 1: we don't have all the details yet on on what
Speaker 1: they're going to bring out, But we do know that
Speaker 1: they got thousands of documents from the Secret Service in
Speaker 1: response to their subpoena of the Secret Service, so they
Speaker 1: have a lot of information to work with there. And
Speaker 1: this is not not going to have a live testimony
Speaker 1: from anybody who's there in person. This is going to
Speaker 1: be the multimedia approach where they show video clips of
Speaker 1: people they've interviewed, uh and and in other ways bring
Speaker 1: in information that they've gathered. So this will be more
Speaker 1: one of those hearings that they've done that's essentially a
Speaker 1: multimedia presentation rather than a live interview. So, as you say,
Speaker 1: we don't know whether this will be the final word
Speaker 1: from the January six committee, but we are less than
Speaker 1: four weeks away from a mid term election here. We
Speaker 1: have to be thinking at this point about what kind
Speaker 1: of impact these hearings have had on voters. Yeah, you know,
Speaker 1: I when we speak to aids with the committee or
Speaker 1: or lawmakers on the committee, and just watching their hearings,
Speaker 1: it does not strike me that this is a committee
Speaker 1: that is particularly focused specifically on these mid terms. It
Speaker 1: could have an effect on these mid terms. There's been
Speaker 1: plenty of information that's come out that has not looked
Speaker 1: good for uh, some Republicans, for the former president, for
Speaker 1: some congressional Republicans though, people who are not necessarily in
Speaker 1: swing districts. But really the focus for the committee seems
Speaker 1: to be, you know, the question of what happens if
Speaker 1: a president tries to overturn the results of an election, uh,
Speaker 1: and there is violence involved and there's no system of accountability.
Speaker 1: Their their focus seems to be a bit more of
Speaker 1: a long term response rather than specifically on these mid terms.
Speaker 1: And so I wouldn't want to play up, you know,
Speaker 1: the the impact that this hearing specifically, or even the
Speaker 1: the group of hearings that they're doing, or the final
Speaker 1: report would have uh in an election that's going to
Speaker 1: happen in a month, because that does not seem to
Speaker 1: be their main focus with this. All right, let's turn
Speaker 1: to this current White House, where the focus is on
Speaker 1: the economy, the war in Ukraine and its potential impact
Speaker 1: on global market. Some very interesting reporting this morning from
Speaker 1: our colleagues of Bloomberg News about concerned building within the
Speaker 1: White House about the Russian oil price cap plan potentially backfiring. Yes,
Speaker 1: there's concern essentially that you know, they don't know how
Speaker 1: that could drive volatility internationally. UH. You cannot guarantee that
Speaker 1: that would lead to a broad lowering of prices. It
Speaker 1: could lead to a spike in prices. UH. At this point,
Speaker 1: it is seen as the best among bad options. UH,
Speaker 1: and a lot of the conser learners about the extent
Speaker 1: to which the ball is in Russia's court. UM. The obviously,
Speaker 1: we've heard Vladimir Putin say that Russia would refuse to
Speaker 1: sell at all to anyone who participates in the price
Speaker 1: cap scheme. There was still hope that it would work
Speaker 1: because if a number of countries participate, it would reduce
Speaker 1: demand UH at least at higher levels, and broadly reduced
Speaker 1: revenue that Russia can take in. But really, considering the
Speaker 1: global nature and the complexity of the availability of oil,
Speaker 1: there is concern about exactly how effective it will be UH,
Speaker 1: the extent to which it drives volatility UH, and how
Speaker 1: much success they're actually going to be able to have
Speaker 1: in denying revenue to Russia. In our last minute, here Jack,
Speaker 1: a couple moves on the immigration front. Tell us more
Speaker 1: about that. Yeah, For one, UH, there is going to
Speaker 1: be nearly a doubling of the available availability of non
Speaker 1: agricultural H two B visa is UH. In addition to
Speaker 1: the usual sixty six thousand each year, they're adding almost
Speaker 1: sixty five thousand according to the Department of Homeland Security.
Speaker 1: UH that really is aimed at addressing an increase in
Speaker 1: need for seasonal workers. And then venez Venezuela specific that
Speaker 1: the Biden administration is implementing a humanitarian plan to allow
Speaker 1: Venezuelans fleeing their country into the US. UH it could
Speaker 1: create a new legal pathway. UH. It involves new checkpoints
Speaker 1: that says that if people cross the border illegally, they
Speaker 1: will not be eligible, but thousands of twenty four thousand
Speaker 1: Venezuelans could be eligible for that, so to significant moves
Speaker 1: in terms of people coming into the US. Thanks for this, Jack,
Speaker 1: great have you go on with a Bloomberg Government congressional
Speaker 1: reporter Jack Fitzpatrick. You can read more about these stories
Speaker 1: on Bloomberg dot com or on the Bloomberg terminal. Follow
Speaker 1: all the latest on Bloomberg Radio in Washington Bloomberg one
Speaker 1: and one oh five point seven FM HD two focus
Speaker 1: for markets out of Washington. This morning, the Consumer Price
Speaker 1: Index DO out at eight thirty Wall Street time, a
Speaker 1: little more than an hour and a half from now.
Speaker 1: Ahead of it, markets are moving a bit higher. SMP
Speaker 1: futures are about eighteen points down, futures up a hundred
Speaker 1: forty three, and NASTAC futures are moving higher by thirty points.
Speaker 1: Tenure Treasury is up three thirty seconds. The yield three
Speaker 1: point eight eight percent yield on the two year four
Speaker 1: point to eight NIMEX crude little changed, up almost a
Speaker 1: tenth percent at eighty seven dollars thirty four cents of barrel,
Speaker 1: and comic gold is hired by two tenths percent of
Speaker 1: three dollars fifty cents at six eighty one. Announced. Bloomberg
Speaker 1: Surveillance is next with Tom Keene, Jonathan Faroh, and Lisa
Speaker 1: Abramowitz for Karen Moscow. I'm Nathan Hagar, and this is
Speaker 1: Bloomberg