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Speaker 1: By from the Bloomberg Interactive Brooker Studios is Bloomberg day

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Speaker 1: Break for Monday, June two, coming up this hour. Reaction

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Speaker 1: continues to pour into the Supreme Court's decision to overturn

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Speaker 1: abortion rights. Russia defaults on its fore in debt for

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Speaker 1: the first time since night, and one of Wall Street's

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Speaker 1: biggest bears sees the market rally continuing before another sell

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Speaker 1: off man faces chargers after he backslap former Mayor Giuliani.

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Speaker 1: Plus New York's annual Pride Parade took a different zone

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Speaker 1: after last week's Supreme Court abortion ruling. I'm Michael Barr

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Speaker 1: more Ahead, I'm John stash houran sports another aeron Judd

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Speaker 1: walk off, Yankee win, the Mets loss from the Colorado

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Speaker 1: Avalanche or Stanley Cup champion. That's all Strady ahead on

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Speaker 1: Bloomberg day Break on Bloomberg eleven Free on New York,

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Speaker 1: Bloomberg N one, Washington, d C, Bloomberg one oh six one, Boston,

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Speaker 1: Bloomberg nine sixty, San Francisco, Syria's Exam one nineteen and

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Speaker 1: around the world on Bloomberg Radio. Dove Carmen via the

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Speaker 1: Bloomberg Business App. Good Morning, I'm Nathan Hager, and I'm

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Speaker 1: Karen Moscow and you Rustock Index futures on the rise

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Speaker 1: this morning. We're coming up to six o one on

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Speaker 1: Wall Street, and we checked the markets every fifteen minutes

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Speaker 1: throughout the trading day. On Bloomberg, SNP futures have nineteen

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Speaker 1: points this morning, down futures have one hundred eight and

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Speaker 1: nastack futures have eighty. The decks in Germany's have one percent.

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Speaker 1: The ten year treasury down nine thirties seconds. You have

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Speaker 1: three point one six percent. They yield on the two

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Speaker 1: year three point oh seven percent. Nine X screwed oil

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Speaker 1: is up three ten percent or thirty one cents at

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Speaker 1: a hundred seven dollars, ninety three cents of barrel comex

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Speaker 1: school is up six tens percent or ten dollars at

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Speaker 1: eighteen forty thirty announced and the euro one point oh

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Speaker 1: five seven two against the dollar. Nathan, all right, Karen,

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Speaker 1: thanks well. More in the markets in a moment. But

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Speaker 1: this morning we begin in the nation's capital. The Supreme

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Speaker 1: Court's decision to overturn abortion rights continues to reverberate. Democratic

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Speaker 1: Senator Elizabeth Warren says the court has burned it's own legitimacy.

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Speaker 1: We have never left individual rights to the states. The

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Speaker 1: whole idea is that women are not second class citizens

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Speaker 1: and the government is not the one that will decide

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Speaker 1: about the continuation of a pregnancy. Speaking on ABC's This Week,

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Speaker 1: Senator Warren says President Biden should add more justices to

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Speaker 1: the Supreme Court. South Dakota is one of thirteen states

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Speaker 1: with trigger laws banning most abortions. Republican Governor Christie Nolme

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Speaker 1: says her state will work to get resources to women

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Speaker 1: with unplanned pregnancies. I think we'll continue to have those

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Speaker 1: debates on how we can support these mothers and what

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Speaker 1: it means to really make sure that we're not prosecuting mothers. Ever,

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Speaker 1: in a situation like this when it comes to abortion,

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Speaker 1: that it will always be focused towards those doctors who

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Speaker 1: knowingly break the law to perform abortions in our state.

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Speaker 1: Governor Christie Nome spoke on CBSS Face the Nation. Listen

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Speaker 1: for Face the Nation and this Week Every Sunday on

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Speaker 1: Bloomberg Radio. Another major story this morning, Nathan brings us

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Speaker 1: to Europe in a meeting of leaders from the Group

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Speaker 1: of seven countries. They've commit it to indefinite support to

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Speaker 1: Ukraine and it's fine against Russia. Bloomberg's Ed Baxter has

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Speaker 1: the story. President Joe Biden says any other course would

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Speaker 1: be dangerous for world democracy to stay together because prudence

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Speaker 1: been counting off from the beginning, and somehow NATO would

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Speaker 1: in the G seven would Spooner. The group also signed

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Speaker 1: onto a Biden foraged program called Build Back Better World

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Speaker 1: Initiative to attack the problems met by the global economy

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Speaker 1: and climate change. In San Francisco. I'm at Baxter Bloomberg

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Speaker 1: Day break, All right, Ed, thanks a couple other notes

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Speaker 1: from the G seven leaders have begun a second day

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Speaker 1: of talks in the Bavarian Alps. They've been joined by

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Speaker 1: video link from Kiev by Ukrainian President Voladimir Zelinsky, who's

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Speaker 1: urging G seven leaders to intensify sanctions against Russia. A

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Speaker 1: senior US Administration official tells reporters the G seven will

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Speaker 1: explore ways to set a Russian oil price cap that

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Speaker 1: would only allow the transport of Russian crewed sold below

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Speaker 1: in a greed threshold. Well Nathan. That news comes as

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Speaker 1: Russia to falls and its foreign currency sovereign debt for

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Speaker 1: the first time in a century, and we go to

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Speaker 1: Europe and get the latest with bloomberrys you in pass,

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Speaker 1: good morning you, and good morning kardon Nathan. It's Russia's

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Speaker 1: first foreign sovereign debt to faults since nineteen eighteen. Midnight

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Speaker 1: last night, the grace period on about a hundred million

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Speaker 1: dollars of interest payments expired, a deadline considered a defaults events.

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Speaker 1: Russia's Your bonds have traded at the stress level since March,

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Speaker 1: with the Central banks farm reserves frozen because of sanctions.

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Speaker 1: Moscow says that the fault label is a fast, saying

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Speaker 1: it has the funds available but has been forced into

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Speaker 1: non payments. In London, I'm you and parts been Mike, daybreak,

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Speaker 1: all right, you and thanks training back to markets now.

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Speaker 1: US futures are higher this morning, the SMP five hundreds,

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Speaker 1: coming up its first weekly gain in a month, and

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Speaker 1: one of the most prominent bears on Wall Street sees

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Speaker 1: this rally continuing temporarily. Morgan Stanley strategist Michael Wilson says

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Speaker 1: the SMP but could climb another five to seven percent

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Speaker 1: before resuming law says well, Nathan. Mike Wilson's call comes

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Speaker 1: as we entered the final trading we get a month.

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Speaker 1: In the second quarter, we get more from Bloomberg's Charlie Pellet.

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Speaker 1: Earnings from major we tailor's will hint at how consumers

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Speaker 1: are holding up. Traders and investors, though, remain concerned about

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Speaker 1: recession fears and how far the Fed will need to

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Speaker 1: raise rates to control inflation. Kevin Holt is chief investment

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Speaker 1: officer at Investco. I think rates are going to continue

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Speaker 1: to move higher throughout the year. I think we're likely

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Speaker 1: to have earnings disappointments in Q two which are going

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Speaker 1: to create more attractive entry points probably later in the year,

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Speaker 1: either Q three or Q four. Among the consumer facing

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Speaker 1: companies reporting earnings this week are Nike, Bed Bath and

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Speaker 1: Beyond and Walgreen's Boots Alliance. Will also hear from Constellation Brands,

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Speaker 1: General Mills, Micron Technology, and Paychecks in New York, Charlie

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Speaker 1: Pellett Bloomberg day Break, Alright, Charlie. Thanks In Asia, overnight

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Speaker 1: stocks gain to begin the week. Let's get the recap

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Speaker 1: from Bloomberg Daybreak Asia anchor Brian Curtis in Hong Kong.

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Speaker 1: A strong day for risk assets in Asia. The n

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Speaker 1: s c I Asia Pacific Index Who's up for a

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Speaker 1: third day, powered by Ali Baba, Samsung and other tech companies.

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Speaker 1: The recent drop in commodity prices has led some investors

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Speaker 1: to bet that inflation has peaked. Quarterly rebalancing by institutional

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Speaker 1: investors could also be weighing in. Other positives include a

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Speaker 1: modest improvement in China's economy in June and a further

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Speaker 1: easing of COVID restrictions in the country in Hong Kong.

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Speaker 1: Brian Curtis Bloomberg Debrie Ry, Brian, thank you. On the

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Speaker 1: economic front this week, it's all about monetary policy. Central

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Speaker 1: bank cheese from the US, the Eurozone and the UK

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Speaker 1: will exchange views in public on Wednesday that jer J. Powell,

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Speaker 1: ECB President Christine Legard and Bank of England Governor Andrew

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Speaker 1: Bailey appeared together at the ECB's annual meeting in the

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Speaker 1: Portuguese resort of Sintra, and so will. Bloomberg's Francine Laqua.

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Speaker 1: Francine sits down for a conversation with all three live

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Speaker 1: right here on Bloomberg Radio and Television. It all begins

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Speaker 1: at nine thirty Wall Street time, Wednesday morning. On the

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Speaker 1: commodity front, this morning, Karen. Gold is on the rise.

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Speaker 1: It's up about a half percent to eighteen ten perouns

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Speaker 1: despite comes as the US, UK, Japan, and Canada plan

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Speaker 1: to announce a ban on new gold imports from Russia

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Speaker 1: during the G seven summit. Sources say the Treasury Department

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Speaker 1: will issue the US VAN tomorrow SMP futures are up

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Speaker 1: sixteen points, staff futures up nine two. NSTEC futures are

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Speaker 1: hired by seventy points. To tell your Treasury is down

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Speaker 1: eight thirty seconds. The yield three point one. Straight ahead,

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Speaker 1: your latest local headlines, and a check of sports. This

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Speaker 1: is Bloomberg and it's now six oh seven on Wall Street,

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Speaker 1: cloudy seventy three degrees in Central Park Lanes closed westbound

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Speaker 1: l I E with an accident after the Grand Central Parkway.

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Speaker 1: Details coming up in Traffic. First Michael Barr with details

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Speaker 1: on what's happening in New York and around the world.

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Speaker 1: Good morning, Michael, Good morning. Nathan. The Staten Island grocery

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Speaker 1: store worker was arrested after police say he slapped Rudy

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Speaker 1: Giuliani on the back and called him a disparaging name.

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Speaker 1: Authorities say the former Trump attorney was at a shop

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Speaker 1: right near Bricktown Way campaigning for his son Andrew when

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Speaker 1: the incident happened. Police say the year old shop right

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Speaker 1: worker open hand slapped Giuliani. The former New York City

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Speaker 1: are spoke to ABC. I went forward, but luckily I

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Speaker 1: didn't fall down. Lucky I'm a seventy eight year old

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Speaker 1: in pretty good shape, because if I wasn't, I'd hit

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Speaker 1: the ground and probably cracked my skull. The grocery store

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Speaker 1: workers facing second degree assault charges for hitting Juliana. Tomorrow,

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Speaker 1: seven states, including New York, are sent to host primary

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Speaker 1: elections for the Democrats. New York Governor Kathy Hoco faces

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Speaker 1: Tom Swazi and Jamanni Williams for the guber matorial nomination.

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Speaker 1: Rob Astrino Andrew Giuliani, Harry Wilson, and Leez Eldon are

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Speaker 1: running for the GOP nomination for governor. Crowds and rainbow

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Speaker 1: colors covered Manhattan's Fifth Avenue yesterday for the annual New

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Speaker 1: York City Pride Parade. It's the first unrestricted celebration in

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Speaker 1: two years. This parade goer is thankful for the return

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Speaker 1: to normalcy. I'm so glad that people coming out uniting,

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Speaker 1: having a great time the un comfortable philling state. The parade,

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Speaker 1: the largest in the country, marks the history of the

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Speaker 1: gay rights movement, following the FAMISUS police raid on the

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Speaker 1: Stone Wall in It helped the push for equality in

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Speaker 1: the LGBTQ community. However, Chase Strange, GEO with the a

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Speaker 1: c l d U, is concerned about those rights. After

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Speaker 1: Friday Supreme Court ruling on abortion overturning Roe v. Wade.

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Speaker 1: There are thirteen states already where people are no longer

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Speaker 1: able to access abortion, and there are LGBTQ people in

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Speaker 1: those states, so there is an immediate impact. And then,

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Speaker 1: of course I don't think we can sit by and

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Speaker 1: think that other monumental Supreme Courts presidents are fine. Chase

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Speaker 1: Strange GEO is the Deputy Director for Transgender Justice with

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Speaker 1: the a c l U. The New York subway lines

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Speaker 1: are going to speed it up a bit, according to

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Speaker 1: The New York Daily News. Starting today, the two, three, four,

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Speaker 1: and five lines were run on a faster weekday schedule,

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Speaker 1: Global News twenty four hours a day on air and

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Speaker 1: on Bloomberg quick Take, powered by more than journalists analysts

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Speaker 1: more than a hundred twenty countries at Michael Barrn. This

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Speaker 1: is Bloomberg Nathan. Okay, Michael, thank you. Coming up to

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Speaker 1: six ten on Wall Street time for the Bloomberg Sports

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Speaker 1: Update with John Stash, Howard Nathan. Five years ago, the

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Speaker 1: Colorado avalanchea one of the worst regular seasons in NHL history,

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Speaker 1: only forty eight point playoffs team the next four seasons,

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Speaker 1: but always out by the second round. In these playoffs,

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Speaker 1: they were dominant sixteen and four and last night of Tempa,

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Speaker 1: the Stanley Cup was wasted four seconds, three seconds, two seconds,

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Speaker 1: one second. It's all that the job, It's done. The

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Speaker 1: Colorado avalence more Stanley pup, Chapman sc and Denver the calls.

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Speaker 1: The ass fell behind, but then scored twice. Second period.

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Speaker 1: They held the Lightning without a shot on goal for

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Speaker 1: the first ten minutes of the third day, won game

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Speaker 1: six to the one. The Lightning denied the third straight Cup.

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Speaker 1: The Yankee Astro series and the Bronx began and ended

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Speaker 1: with Aaron Judge walk off hits in between. Judge went

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Speaker 1: over eleven. The Yankees came up with a seventh enny.

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Speaker 1: They have been gone over the last fifty two sixteen

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Speaker 1: innings without a head with a John Carlos Stanton home

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Speaker 1: run at d J le MAYEU game time, two run

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Speaker 1: shot in the eighth and then a three run blast

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Speaker 1: by Judge with two out in the tent for a

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Speaker 1: six three Yankee win, a split of the series. The

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Speaker 1: Yanks now thirty one and nine at home, and tonight

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Speaker 1: they host the lowly Oakland A's. The Mets are off.

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Speaker 1: They'll host the Astros tomorrow. The Mets lost in Miami

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Speaker 1: three to two on a walk clock home run by

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Speaker 1: of the night by the Marlins. Nick Fortez Golf near Hartford.

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Speaker 1: Zanders Shaffley got the win. Twenty three year old Matthew Wolf,

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Speaker 1: considering a rise, considered a rising star, finished forty and

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Speaker 1: then came word he's leaving the PG eight Tour. He's

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Speaker 1: heading for the New Live Tour, which has a tournament

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Speaker 1: this week in Portland. Johns Dashaward, Bloomberg Sports ta Okay,

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Speaker 1: John thanks SMP futures up fifteen points, down, Features up

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Speaker 1: eighty two, Nastact features up sixty four points, Send your

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Speaker 1: treasury old three point one six, nime X screwed moving

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Speaker 1: up a touch higher, up two tenths per cent. With

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Speaker 1: of the G seven summit in the Bavarian Alps. Will

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Speaker 1: take you live. I have tou Bavaria. Check in with

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Speaker 1: Bloomberg's Maria Today. Oh next. This is Bloomberg. Bloomberg Day

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Speaker 1: Break is brought to you by Hofstra University's Frank gez

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Speaker 1: Rb School of Business, top ranked online NBA program with

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Speaker 1: u slash Go grad markets, headlines and breaking news twenty

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Speaker 1: four hours a day at Bloomberg dot com, the Bloomberg

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Speaker 1: Business Outland. At Bloomberg Quick Tape. This is a Bloomberg

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Speaker 1: Business Flash and I'm Karen Moscow. And global stocks extending

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Speaker 1: gains after posting their best performance in a month last week,

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Speaker 1: you want to stock index futures with tech stocks on

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Speaker 1: the rise, as well as futures their sex to extend

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Speaker 1: their gains following the best week since March. SNP futures

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Speaker 1: up about sixteen points in as day futures of seventy

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Speaker 1: and down futures of eighty three. The decks in Germany's

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Speaker 1: up nine tenths of percent, ten your treasury down nine

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Speaker 1: thirty seconds. You on three point one six percent the

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Speaker 1: yield on the two year three point oh seven percent.

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Speaker 1: Nimex screwed oils up two tens per cent, or twenty

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Speaker 1: one cents at a hundred seven dollars eighty three cents

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Speaker 1: a barrel, Comic schooled a half percent or nine dollars

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Speaker 1: ninety cents at eighteen forty. Announced the euro one point

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Speaker 1: oh five seven one against the dollar, the British pound

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Speaker 1: one point to two seven seven, then at one five

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Speaker 1: point one five and look at it bitcoin this morning,

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Speaker 1: little change at twenty one thousand, four hundred dollars and

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Speaker 1: Nike's among companies schedule to report earnings today. That's a

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Speaker 1: Bloomberg business flash. Now here's Michael Barr with more on

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Speaker 1: what's going on around the world. Michael Karen, thank you

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Speaker 1: very much. South Dakota Republican Governor Christie Nome is pledging

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Speaker 1: to bar mail order abortion pills, but says women shouldn't

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Speaker 1: face prosecution for seeking them. The Supreme Court last week

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Speaker 1: script away women's protections for abortion. Russia has shattered weeks

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Speaker 1: of relative calm and Ukraine's capital with the missile attack.

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Speaker 1: As Western leaders meeting in Europe prepared to reaffirm the

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Speaker 1: support for Ukraine and condemnation of Russia. In the NHL,

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Speaker 1: the AVALANCHEV won the Stanley Cup after beating the Lightning.

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Speaker 1: In baseball, the Yankees one, the Mets lost, the Red

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Speaker 1: Sox Nationals and A's one. The Orioles and Giants lost.

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Speaker 1: Global news twenty four hours a day on air and

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Speaker 1: on Bloomberg Quicktake, powered by more than seven hundred journalists

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Speaker 1: and analysts more than a hundred twenty countries. I'm Michael Barr,

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Speaker 1: and this is Bloomberg. Nathan. Okay, Michael. Thanks at six

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Speaker 1: nineteen on Wall Street Live from the Bloomberg Interactive Broker Studios.

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Speaker 1: This is Bloomberg day Break, and let's get more now

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Speaker 1: on how leaders from the world's biggest economies are looking

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Speaker 1: to shore up support for Ukraine and put even more

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Speaker 1: economic pressure on Russia. The G seven summit continues this

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Speaker 1: morning at the Bavarian Alps in Germany, where we find

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Speaker 1: Bloomberg's Maria Today. Oh here with us live this morning. Maria,

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Speaker 1: It's good to speak with you. Thanks for being here

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Speaker 1: with us. What are some of the most important developments

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Speaker 1: to come out of the G seven so far? Look,

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Speaker 1: I think overall you have to really factor that this

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Speaker 1: entire meeting the G seven has been completely dominated by

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Speaker 1: the war in Ukraine. There is a shadow of the war,

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Speaker 1: of course, which is happening uh in continental Europe as

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Speaker 1: we speak, and that has really changed and shaped the

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Speaker 1: conversation here for two days as G seven eaters gathered together.

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Speaker 1: I think a lot of the big focus for them

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Speaker 1: was to show the world that the big democracies of

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Speaker 1: the Western world share the same values and share the

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Speaker 1: same opinion when it comes to Ukraine. And in fact,

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Speaker 1: we're expecting a communicated that will once again say and

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Speaker 1: rage rate that the G seven countries of the world,

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Speaker 1: the biggest democracies on the planet, will help quote Ukraine

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Speaker 1: on an open ended basis until the war comes to

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Speaker 1: an end. What what does that mean in terms of support.

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Speaker 1: We've heard a number of potential policy developments to come

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Speaker 1: out of this summit, especially when it comes to going

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Speaker 1: after Russia's energy sector, is or anything concrete coming out

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Speaker 1: so far. Look, I think when it comes to helping Ukraine,

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Speaker 1: it's understood that it means everything. It's a whole package.

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Speaker 1: It's weapons, it's financially the reconstruction of this country. It

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Speaker 1: is very clear that the West is going to have

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Speaker 1: to pay for this. The Ukraine and economy, particularly in

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Speaker 1: the east of the country has been completely destroyed by Russia.

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Speaker 1: I mean, we really have to take a moment back

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Speaker 1: and really just see the severity of this. This is

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Speaker 1: an all out invasion, bombing war into Ukraine by the

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Speaker 1: Russian Army. I think, however, the active discussion that's going

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Speaker 1: on also packed to the war, but more of a

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Speaker 1: second round effect of it is oil prices, and we

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Speaker 1: have seen it as a result of supply, but also

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Speaker 1: the impact that the sanctions have on the market. Russia

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Speaker 1: has made not just very substantial revenues, but prices have

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Speaker 1: become very volatile. They pass on to consumers and then

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Speaker 1: in the same direction, inflation gets pushed higher as a result.

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Speaker 1: So for g time and leaders, what we expect is

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Speaker 1: that today the will agree not to a price cap,

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Speaker 1: not just yet, but to form a task force that

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Speaker 1: could look into it and analyze the different options. Yeah.

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Speaker 1: I guess that really points to the difficulty that Europe

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Speaker 1: particularly is seeing in terms of putting even more economic

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Speaker 1: pressure on Russia, because that pressure has been shown to

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Speaker 1: devolve onto the European continent. Now, increasing inflation and increasing

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Speaker 1: oil prices for the European consumer. What's the difficulty for

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Speaker 1: Europe in particular to put more economic pressure on Russia

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Speaker 1: that doesn't affect them. Well, I think you've summarized it there.

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Speaker 1: It's it's very difficult. And here's the thing. I also,

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Speaker 1: you know this is very important, and I cover Europe

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Speaker 1: repeatedly from multiple countries. The impact that this war has

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Speaker 1: in Europe is much bigger than it would have in

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Speaker 1: the American economy. I was once told for every dollar

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Speaker 1: day United States is going to lose on the as

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Speaker 1: the European unit could lose up to ten. The transactional

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Speaker 1: relationship between the EU Russia, the energy relationship, the energy

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Speaker 1: flows is much more, is bigger, it's more important, and

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Speaker 1: of course as a bigger impact or the Europeans, it's

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Speaker 1: very difficult to cause damage and not be heard by it.

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Speaker 1: They really understand that the harder your sanction, the more

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Speaker 1: you're going to feel the pain. I think now what

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Speaker 1: they focus on is to do it in a way

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Speaker 1: that perhaps is more targeted, so that they're able to

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Speaker 1: well get their economies in shape ahead of the winter.

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Speaker 1: I also think that when you look at potential future sanctions.

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Speaker 1: We have hit a moment of a breather. I think

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Speaker 1: a lot of European countries want to take a breather

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Speaker 1: before they go back at it again, particularly in the winter,

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Speaker 1: because it's almost impossible for Europe to circle this well

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Speaker 1: saying with Russia and sanctions and not be heard by it.

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Speaker 1: In our last minute here, Maria, is there still a

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Speaker 1: sense that the world's biggest economies are united in confronting

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Speaker 1: Russia and supporting Ukraine? Or are we seeing signs of

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Speaker 1: of fractures moving into place here that you seven No,

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Speaker 1: look that I have seen. No, they use the same language.

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Speaker 1: Everyone is pretty much on board suggesting this is about

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Speaker 1: helping Ukraine. Russia will realize it's made a historic mistake

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Speaker 1: and Vladimir Buddha will pay a very high price for it.

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Speaker 1: There has been no suggestion about pushing Ukraine into a deal. Uh.

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Speaker 1: They really have avoided using in a language that would

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Speaker 1: be seen as defeatist for the Ukrainian government. And of course,

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Speaker 1: when you get here and you gather from leaders from

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Speaker 1: seven different countries, they all have their international agenda that

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Speaker 1: they want to focus on. The national issues you try

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Speaker 1: to put them aside, and when it comes to sending

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Speaker 1: a message. I think what we've seen over the past

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Speaker 1: twenty four hours, it's really everyone's speaking with the same voice.

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Speaker 1: I personally have not noticed anything that would make me

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Speaker 1: think that United breaking. Thanks for this, Maria today Oh

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Speaker 1: Bloomberg News part of our team of correspondence covering the

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Speaker 1: G seven summit from the Bavarian Alps in Germany. Right now,

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Speaker 1: SMP futures are up sixteen points, stuff futures up seven

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Speaker 1: nast that futures are higher by seventy points. This is

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Speaker 1: Bloomberg Bloomberg eleven three oh Weather mostly cloudy. Could see

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Speaker 1: some scattered showers and storms today going up to around

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Speaker 1: eighty degrees. Will be near eighty tomorrow in the sunshine,

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Speaker 1: low eighties Wednesday. Right now seventy three and cloudy in

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Speaker 1: Central Park. Broadcasting live from the Bloomberg Interactive Broker Studio

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Speaker 1: in New York, Bloomberg e living free on to Washington,

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Speaker 1: d C. Bloomberg to Boston, Bloomberg one oh six one

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Speaker 1: to San Francisco, Bloomberg nine sixty to the country Sirius

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Speaker 1: xm j A one nine team and around the globe

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Speaker 1: to Bloomberg Business app and Bloomberg Radio dot com. This

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Speaker 1: is Bloomberg Daybreak. It's six thirty on Wall Street. Good morning.

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Speaker 1: I'm Nathan Hagar and I'm Karen Moscow. Where just about

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Speaker 1: three hours away from the open of US trading. Time

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Speaker 1: for the five things you need to notice. Start your

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Speaker 1: day Brozy you by i b k R Investment Advisors

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Speaker 1: switched to Interactive Brokers for the lowest cost global trading

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Speaker 1: of your interests at ibk R dot com slash r

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Speaker 1: I A First, we begin in the nation's capital, where

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Speaker 1: the Supreme Court's decision to overturn abortion rights continues to reverberate.

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Speaker 1: Democratic Senator Elizabeth Warren is calling for a change to

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Speaker 1: the High Court structure. I believe we need to get

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Speaker 1: some confidence back in our court, and that means we

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Speaker 1: need more justices on the United States Supreme Court. Speaking

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Speaker 1: on ABC's This Week, Senator Warren said President Biden needs

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Speaker 1: to make abortion as available as possible. South Dakota is

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Speaker 1: one of thirteen states would trigger laws that banned most abortions.

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Speaker 1: Republican Governor Christie Nome tells ABC her state will work

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Speaker 1: to get resources to women with unplanned pregnancies. I don't

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Speaker 1: believe there should be any punishment for women ever that

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Speaker 1: are in a crisis situation or have an unplanned pregnancy.

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Speaker 1: In South Dakota has been strong on that argument. Governor

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Speaker 1: Christie Nome spoke with ABC's This Week Listened to This

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Speaker 1: Week Every Sunday on Bloomberg Radio, Turning overseas Karen group

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Speaker 1: of Seven leaders to be on a second day of

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Speaker 1: talks in the Bavarian Alps. Ukrainian President voladimir's Lensky urged

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Speaker 1: them to intensify sanctions against Russia. The G seven is

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Speaker 1: committing indefinite support to Ukraine. A US senior administration official

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Speaker 1: says the leaders will explore ways to set a Russian

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Speaker 1: oil price cap, and that news Nathan comes as Russia

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Speaker 1: defaulted on its foreign currency sovereign debt for the first

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Speaker 1: time since nineteen eighteen. Bloomberg rad Score responding Garfield Reynolds

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Speaker 1: says that default is a result of Russia's exclusion from

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Speaker 1: the global financial systems. It's not that the money isn't there,

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Speaker 1: it's the money is not allowed to be used for

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Speaker 1: that because of the ruling for the US and others

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Speaker 1: that Russia is outside of civilized society. Bloomberg's Garfield Reynolds

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Speaker 1: says Russia found paths around penalties for months before defaulting

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Speaker 1: the markets, Karen, As we begin the final training week

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Speaker 1: of the month and the second quarter, US futures are higher,

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Speaker 1: with the SNP five hundred coming off its first weekly

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Speaker 1: gain in a month. And on the commodity front, Nathan

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Speaker 1: gold is on the rise, is a one tho eight

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Speaker 1: hunred thirty nine dollars and ounds up about half percent.

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Speaker 1: The spike comes is the US, UK, Japan, and Canada

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Speaker 1: planned to announce a ban on new gold imports from

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Speaker 1: Russia during the G seven summit. And that's the five

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Speaker 1: things that you need to know to start your day,

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Speaker 1: brought to you by Interactive Brokers. And again, futures are

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Speaker 1: higher this morning, with SNP futures up about twelve points.

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Speaker 1: Straight to head your latest local headlines plus a check

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Speaker 1: of sports, and this is Bloomberg. Thank you. Caring at

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Speaker 1: six thirty three on Wall Street where it's seventy three

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Speaker 1: degrees in Central Park. We've got a crash on the

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Speaker 1: upper deck of the George Washington Bridge heading into New Jersey.

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00:23:45,400 --> 00:23:48,280
Speaker 1: Details coming up in Traffic. First Michael Barr with more

431
00:23:48,320 --> 00:23:50,280
Speaker 1: on what's going on in New York and around the world.

432
00:23:50,359 --> 00:23:53,280
Speaker 1: Good morning, Michael, Good morning. Nathan, a Staten Island grocery

433
00:23:53,320 --> 00:23:56,840
Speaker 1: store worker was arrested after police say he slapped Rudy

434
00:23:56,960 --> 00:23:59,960
Speaker 1: Giuliani on the back and called him a disparaging name,

435
00:24:00,040 --> 00:24:02,879
Speaker 1: and authorities saying the former New York City mayor and

436
00:24:03,000 --> 00:24:05,959
Speaker 1: Trump attorney was at a Shop Write campaigning for his son,

437
00:24:06,040 --> 00:24:09,200
Speaker 1: Andrew when the incident happened. The thirty nine year old

438
00:24:09,240 --> 00:24:12,600
Speaker 1: shop Write workers facing second degree assault charges for the

439
00:24:12,720 --> 00:24:16,840
Speaker 1: open hand slap on Giuliani, who is seventy eight. Tomorrow,

440
00:24:17,040 --> 00:24:20,200
Speaker 1: seven states, including New York, are set to host primary

441
00:24:20,280 --> 00:24:24,360
Speaker 1: elections for the Democrats. New York Governor Kathy Hokel faces

442
00:24:24,440 --> 00:24:29,160
Speaker 1: Tom Swazi and Jamanni Williams for the gubernatorial nomination. Rob

443
00:24:29,200 --> 00:24:33,600
Speaker 1: Astrino Andrew Giuliani, Harry Wilson and Les Eldon are running

444
00:24:33,640 --> 00:24:37,000
Speaker 1: for the GOP nomination for governor. Thousands of people line

445
00:24:37,080 --> 00:24:40,200
Speaker 1: Manhattan's Fifth Avenue yesterday for the annual New York City

446
00:24:40,280 --> 00:24:43,920
Speaker 1: Pride Parade. The parade, the largest in the country, marks

447
00:24:44,000 --> 00:24:47,040
Speaker 1: the history of the gay rights movement following the infamous

448
00:24:47,119 --> 00:24:51,120
Speaker 1: police raid on the Stone Wall In Filmmaker James Scully

449
00:24:51,720 --> 00:24:54,760
Speaker 1: says it's because of the decades of fighting that he

450
00:24:54,920 --> 00:24:58,440
Speaker 1: was able to make the Hulu romcom Fire Island. It's

451
00:24:58,480 --> 00:25:01,600
Speaker 1: not about being bobs down own or learning to come

452
00:25:01,680 --> 00:25:04,520
Speaker 1: to terms with your queerness. It's about celebrating your queerness,

453
00:25:04,760 --> 00:25:08,240
Speaker 1: celebrating your chosen a family, living in your truth, and

454
00:25:08,359 --> 00:25:10,880
Speaker 1: celebrating the joy that comes with all of those things.

455
00:25:11,160 --> 00:25:14,760
Speaker 1: And I think that that's revolutionary, filmmaker James Skelly. However,

456
00:25:14,880 --> 00:25:17,840
Speaker 1: the Pride parade also had another tone, the fight for

457
00:25:18,000 --> 00:25:22,000
Speaker 1: abortion rights. I'm sure what will come next with the

458
00:25:22,080 --> 00:25:25,080
Speaker 1: other rights that are under attack. They'll come, but we're

459
00:25:25,080 --> 00:25:27,760
Speaker 1: ready for the fight. We've been fighting for our whole lives,

460
00:25:27,880 --> 00:25:31,120
Speaker 1: just like women have been. Pride parades were also held

461
00:25:31,200 --> 00:25:34,760
Speaker 1: in other big cities, including San Francisco. Nora Way's Prime

462
00:25:34,840 --> 00:25:37,439
Speaker 1: Minister and members of the royal family joined mourners at

463
00:25:37,480 --> 00:25:41,399
Speaker 1: a memorial service in Oslow Cathedral for the victims of

464
00:25:41,480 --> 00:25:44,600
Speaker 1: a shooting attack. The attack over the weekend game as

465
00:25:44,720 --> 00:25:48,480
Speaker 1: the Capitol held its annual Pride festival. Prime Minister Jonas

466
00:25:48,520 --> 00:25:51,760
Speaker 1: gar store one way of countering this kind of violence

467
00:25:51,800 --> 00:25:54,359
Speaker 1: and extremism is to take back the normal life, and

468
00:25:54,400 --> 00:25:56,600
Speaker 1: that's what we will do with it with quite some strength.

469
00:25:57,200 --> 00:26:00,520
Speaker 1: The suspect to forty two year old Norwegian citizen originally

470
00:26:00,600 --> 00:26:03,800
Speaker 1: from around is in custody. W w NBA star Britney Grinder,

471
00:26:03,800 --> 00:26:06,680
Speaker 1: who has been in Russian custody since February, is expected

472
00:26:06,720 --> 00:26:09,560
Speaker 1: to appear in court today. Grinder was arrested at the

473
00:26:09,600 --> 00:26:12,840
Speaker 1: airport in Moscow after being accused of carrying bait cartridges

474
00:26:13,080 --> 00:26:16,440
Speaker 1: containing hash oil. Global News twenty four hours a day

475
00:26:16,520 --> 00:26:19,239
Speaker 1: on air and on Bloomberg Quicktake, powered by more than

476
00:26:19,840 --> 00:26:22,119
Speaker 1: hundred journalists and analysts more than a hundred twenty countries.

477
00:26:22,400 --> 00:26:30,080
Speaker 1: Michael Barr, this is Bloomberg name. Thank you, Michael sixty

478
00:26:30,119 --> 00:26:32,520
Speaker 1: six on Wall Street. John stash Are has the Bloomberg

479
00:26:32,560 --> 00:26:34,960
Speaker 1: Sports Update thanks to the Tampa Bay Light and trying

480
00:26:35,000 --> 00:26:36,960
Speaker 1: to do something no team's done since the Islanders in

481
00:26:37,000 --> 00:26:39,439
Speaker 1: the early nineteen eighties a Stanley Cup three feet They

482
00:26:39,480 --> 00:26:42,359
Speaker 1: fought off elimination three times, including Game five in Denver,

483
00:26:42,440 --> 00:26:45,480
Speaker 1: but back in Tampa, Colorado scored twice second period that

484
00:26:45,600 --> 00:26:49,160
Speaker 1: was enough for a two one game six victory. Third Cup.

485
00:26:49,280 --> 00:26:52,280
Speaker 1: It has history. They also six and two thousand and one,

486
00:26:52,560 --> 00:26:55,639
Speaker 1: defenseman Cole macar won the Counts Mike Trophies playoff m

487
00:26:55,720 --> 00:26:58,720
Speaker 1: v P when the Warriors just won the NBA Championship.

488
00:26:58,760 --> 00:27:01,320
Speaker 1: The commissioner Adam Silver could not hand in the trophy

489
00:27:01,359 --> 00:27:04,280
Speaker 1: because of COVID. Same thing happened last night with NHL

490
00:27:04,320 --> 00:27:07,040
Speaker 1: Commissioner Gary Bittman. A wild one of the Brons the

491
00:27:07,160 --> 00:27:09,680
Speaker 1: first and last pictures of the game where home runs

492
00:27:09,760 --> 00:27:12,520
Speaker 1: Jose Al Tube for the Astros. Yankees did not get

493
00:27:12,560 --> 00:27:14,840
Speaker 1: a hit until the seventh inning, which made a sixteen

494
00:27:14,960 --> 00:27:17,480
Speaker 1: strain innings without a hit. They only had four put

495
00:27:17,560 --> 00:27:20,159
Speaker 1: three were home runs John Carlo Stanton in the seventh

496
00:27:20,240 --> 00:27:22,480
Speaker 1: to break up what would have been baseball history, a

497
00:27:22,560 --> 00:27:25,359
Speaker 1: second no hit in a row. Dj lemayew game tying

498
00:27:25,440 --> 00:27:27,320
Speaker 1: two run shot in the eighth and in the tenth.

499
00:27:27,440 --> 00:27:36,560
Speaker 1: The whole ride and the witches sort not it's a

500
00:27:36,760 --> 00:27:40,760
Speaker 1: walk off three run home run. It's a judge and

501
00:27:41,000 --> 00:27:46,040
Speaker 1: blast the deep glove center into the bullpen. Yankee six,

502
00:27:46,200 --> 00:27:49,720
Speaker 1: Astros three twenty eight home run for Aaron Judge's second

503
00:27:49,720 --> 00:27:51,520
Speaker 1: walk off hit of the series, and the yanks tenth

504
00:27:52,000 --> 00:27:54,440
Speaker 1: walk off when the Marlins walked off on the Mets

505
00:27:54,480 --> 00:27:56,880
Speaker 1: in Miami home run bottom of night by Nick Fortez,

506
00:27:56,960 --> 00:27:58,920
Speaker 1: love Adam Atavino to beat the Mets three to two,

507
00:27:59,359 --> 00:28:03,280
Speaker 1: wild raw between the Mariners and Angels six injections, and

508
00:28:03,400 --> 00:28:06,920
Speaker 1: they are underway this morning. It's opening day at wimbled Boom.

509
00:28:06,960 --> 00:28:10,040
Speaker 1: John stash Or Bloomberg School. All right, John, thank you

510
00:28:10,119 --> 00:28:12,240
Speaker 1: sixty seven on Wall Street. Time to take a look

511
00:28:12,280 --> 00:28:14,560
Speaker 1: at stock some of the names moving before the market

512
00:28:14,640 --> 00:28:18,480
Speaker 1: open on Wall Street. Bloomberg Radio and TV Markets correspondent

513
00:28:18,560 --> 00:28:21,560
Speaker 1: Creedy Gufta is with us on a morning where we

514
00:28:21,640 --> 00:28:25,239
Speaker 1: could be seeing yet more games create. Yeah, a lot

515
00:28:25,320 --> 00:28:27,679
Speaker 1: of green on the screen, Nathan, And it's really broad

516
00:28:27,760 --> 00:28:29,760
Speaker 1: based here. So it tells you that perhaps there is

517
00:28:29,840 --> 00:28:32,000
Speaker 1: a little bit of sustainability, a little bit of legs

518
00:28:32,240 --> 00:28:34,200
Speaker 1: to this rally today, at least in the pre market,

519
00:28:34,240 --> 00:28:36,240
Speaker 1: or at least for the first couple of hours of

520
00:28:36,320 --> 00:28:37,879
Speaker 1: this trading that you are seeing. Let's say, look some

521
00:28:37,920 --> 00:28:39,720
Speaker 1: of these names here that are in the green. A

522
00:28:39,800 --> 00:28:41,600
Speaker 1: lot of this is going to be commodity lead. So

523
00:28:41,800 --> 00:28:44,760
Speaker 1: names like Newport, for example, an E. M is your

524
00:28:44,800 --> 00:28:47,479
Speaker 1: taker you. This is of course the Classic Gold Company

525
00:28:47,640 --> 00:28:49,880
Speaker 1: up one point six percent. Similar story when you look

526
00:28:49,920 --> 00:28:53,200
Speaker 1: at say energy names like Diamondback Energy, f A n

527
00:28:53,280 --> 00:28:56,520
Speaker 1: G's your ticker up two point two percent. Also look

528
00:28:56,560 --> 00:28:58,960
Speaker 1: at Copper I mean this really is a broad commodity story.

529
00:28:59,080 --> 00:29:01,480
Speaker 1: Fc X for Free Court MC brand up about two

530
00:29:01,520 --> 00:29:03,680
Speaker 1: point eight percent in the session. So right off the

531
00:29:03,720 --> 00:29:06,520
Speaker 1: vatue are seeing that strength when it comes to those names.

532
00:29:06,680 --> 00:29:09,080
Speaker 1: Is this an inflation story yours? This simply risk rally,

533
00:29:09,120 --> 00:29:12,120
Speaker 1: perhaps some of those recession fears abating just to touch

534
00:29:12,320 --> 00:29:14,400
Speaker 1: over the weekend. You also do have those tech names

535
00:29:14,600 --> 00:29:16,360
Speaker 1: joining in as well. Take a look at Netflix and

536
00:29:16,600 --> 00:29:19,480
Speaker 1: f l X up one point three percent, and video

537
00:29:19,560 --> 00:29:21,800
Speaker 1: as well n v d A up one percent. So,

538
00:29:21,880 --> 00:29:24,280
Speaker 1: like I said, really both sides of the spectrum, from

539
00:29:24,360 --> 00:29:27,800
Speaker 1: commodities to tech, both are are rallying today. But Nathan,

540
00:29:27,880 --> 00:29:30,000
Speaker 1: we should talk about what isn't rallying today, and that

541
00:29:30,320 --> 00:29:32,440
Speaker 1: is going to be coin based. Really taking a dive

542
00:29:32,600 --> 00:29:35,600
Speaker 1: this morning. C O I N is your taker Dan

543
00:29:35,640 --> 00:29:39,600
Speaker 1: about four point seven percent. This comes after some comments

544
00:29:39,680 --> 00:29:41,880
Speaker 1: here at Goldman. It was cut to a cell rating

545
00:29:41,880 --> 00:29:44,880
Speaker 1: over at Goldman Sachs on a weakening revenue base to

546
00:29:45,000 --> 00:29:49,200
Speaker 1: a street low price target of forty five dollars and

547
00:29:49,320 --> 00:29:51,960
Speaker 1: the firm actually side of the continued ground draft in

548
00:29:52,000 --> 00:29:55,000
Speaker 1: crypto prices and a drop in industry activity levels. Remember

549
00:29:55,040 --> 00:29:57,840
Speaker 1: coin based is a crypto exchange, so if you start

550
00:29:57,880 --> 00:29:59,720
Speaker 1: to say less and less people want to trade it

551
00:29:59,840 --> 00:30:02,080
Speaker 1: or us unless people want to own it, coin basically

552
00:30:02,080 --> 00:30:04,680
Speaker 1: going to be way more exposed than other companies who've

553
00:30:04,760 --> 00:30:07,520
Speaker 1: just perhaps invested in crypto. So that's going to be

554
00:30:07,560 --> 00:30:09,480
Speaker 1: a big one. Another company is very similar to that

555
00:30:09,960 --> 00:30:12,400
Speaker 1: is robin Hood, but it's not actually down. H O

556
00:30:12,600 --> 00:30:14,800
Speaker 1: O d s your taker. It's up this morning, Nathan,

557
00:30:15,000 --> 00:30:17,920
Speaker 1: to the tune of three point four percent. This comes

558
00:30:18,000 --> 00:30:22,880
Speaker 1: after you did see gold massas analysts raise their recommendation

559
00:30:22,920 --> 00:30:25,440
Speaker 1: on the stock to neutral from cells. So those shares

560
00:30:25,480 --> 00:30:28,120
Speaker 1: are rallying once again on a Goldman call. All right,

561
00:30:28,200 --> 00:30:32,360
Speaker 1: just quickly, what's happening with Etsy etsys. You're only or

562
00:30:32,400 --> 00:30:34,280
Speaker 1: one of your only down stocks this morning, and this

563
00:30:34,400 --> 00:30:37,640
Speaker 1: is interesting. They got cut over at need Um. This

564
00:30:37,800 --> 00:30:39,880
Speaker 1: is important because it comes after a series of cuts

565
00:30:39,920 --> 00:30:41,880
Speaker 1: for a lot of these e commerce companies. This morning,

566
00:30:42,200 --> 00:30:45,000
Speaker 1: that shares are down three point two percent. So e

567
00:30:45,120 --> 00:30:47,200
Speaker 1: T s Y is your ticker there, And once again

568
00:30:47,240 --> 00:30:49,360
Speaker 1: it really comes down to this idea of all these

569
00:30:49,440 --> 00:30:51,880
Speaker 1: high flying names, perhaps coming down to reality. Just to

570
00:30:51,960 --> 00:30:55,040
Speaker 1: touch all right, Bloomberg Radio on TV. Markets correspondent Crety

571
00:30:55,080 --> 00:30:58,800
Speaker 1: Gupta with us this morning, looking ahead to the market open.

572
00:30:59,400 --> 00:31:02,200
Speaker 1: Looks like to see more gains across the indexes, with

573
00:31:02,360 --> 00:31:05,120
Speaker 1: SMP futures up eleven points, Staff futures up sixty two.

574
00:31:05,560 --> 00:31:08,680
Speaker 1: NASAC futures are higher by forty seven points. The tenure

575
00:31:08,720 --> 00:31:12,320
Speaker 1: treasury is down eleven thirty seconds, the yield three point

576
00:31:12,400 --> 00:31:23,440
Speaker 1: one seven per cent. You're listening to Bloomberg Daybreak Bloomberg eleventh,

577
00:31:23,440 --> 00:31:25,800
Speaker 1: three oh Weather mostly cloudy, some scattered showers and storms

578
00:31:25,800 --> 00:31:28,719
Speaker 1: today with a high near eighty degrees, mostly sunny eighty Tomorrow,

579
00:31:29,120 --> 00:31:32,160
Speaker 1: low eighties and sunny skies for Wednesday. Right now clouds

580
00:31:32,280 --> 00:31:38,600
Speaker 1: and seventy three degrees in Central Park. Markets. Headlines and

581
00:31:38,760 --> 00:31:41,960
Speaker 1: breaking news twenty four hours a day at Bloomberg dot com,

582
00:31:42,080 --> 00:31:45,680
Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape is

583
00:31:45,720 --> 00:31:55,200
Speaker 1: a Bloomberg Business Flash and futures are gaining. We got

584
00:31:55,240 --> 00:31:58,000
Speaker 1: to the first word breaking news dash for today's morning call,

585
00:31:58,080 --> 00:32:02,560
Speaker 1: and here's Bill Maloney built Bill, Good morning, Hey, Good morning, Karen.

586
00:32:02,640 --> 00:32:04,760
Speaker 1: Modest games in the US futures right now at DEAF

587
00:32:04,800 --> 00:32:07,480
Speaker 1: futures up forty five point sesames game nine, will Nez

588
00:32:07,560 --> 00:32:10,800
Speaker 1: de futures are up by forty two. The US ten

589
00:32:10,920 --> 00:32:13,400
Speaker 1: year old at three point one six percent, Gold is

590
00:32:13,520 --> 00:32:16,560
Speaker 1: up eleven, oil is little changed, and Bitcoin is trading

591
00:32:16,640 --> 00:32:19,840
Speaker 1: higher by point two percent. Hong Kong rose two point

592
00:32:19,880 --> 00:32:22,560
Speaker 1: four percent overnight, while Europan markets are mostly in the

593
00:32:22,640 --> 00:32:25,520
Speaker 1: green this morning. And note that Russia defaulted on foreign

594
00:32:25,560 --> 00:32:29,440
Speaker 1: currency sovereign debts for the first time since nineteen eighteen.

595
00:32:29,960 --> 00:32:32,560
Speaker 1: Back in the US on the Economic Frinday thirty durable

596
00:32:32,560 --> 00:32:35,440
Speaker 1: goods orders and at ten o'clock pending home sales. In

597
00:32:35,600 --> 00:32:38,440
Speaker 1: other news, Morgan Stanley said this stock rebound may last

598
00:32:38,520 --> 00:32:41,720
Speaker 1: a few more weeks before further losses, and Goldman Sachs

599
00:32:41,800 --> 00:32:45,040
Speaker 1: is staying bullish on commodities, wrapping things up over at

600
00:32:45,080 --> 00:32:47,680
Speaker 1: Goldman Sachs. AutoZone was raised to buy, coin Base was

601
00:32:47,760 --> 00:32:50,800
Speaker 1: cut to sell, and robin Hood was raised to neutral.

602
00:32:51,360 --> 00:32:53,960
Speaker 1: Live from the first breaking news desc on Bill Maloney careen,

603
00:32:54,320 --> 00:32:55,960
Speaker 1: All right, Bill, thank you, and to hear live breaking

604
00:32:56,000 --> 00:32:58,440
Speaker 1: news of your Bloomberry type squawk on your terminal, I'll

605
00:32:58,480 --> 00:33:01,320
Speaker 1: ask you a w U K that's a Bloomberg Business flash.

606
00:33:01,360 --> 00:33:03,480
Speaker 1: Now here's Michael Barr with more on what's going on

607
00:33:03,600 --> 00:33:06,280
Speaker 1: around the world. Michael Karen, thank you very much. President

608
00:33:06,360 --> 00:33:09,160
Speaker 1: Joe Biden and Western allies at a three days summon

609
00:33:09,200 --> 00:33:12,560
Speaker 1: in the Barbarian Alps say they are intent on keeping

610
00:33:12,680 --> 00:33:15,560
Speaker 1: economic pressure on Russia and trying to end the conflict

611
00:33:15,640 --> 00:33:19,160
Speaker 1: in Ukraine. W NBA star Britney Griner is expected to

612
00:33:19,240 --> 00:33:22,280
Speaker 1: appear in court today for her preliminary hearing in Moscow.

613
00:33:22,760 --> 00:33:26,520
Speaker 1: She was detained for allegedly having vape cartridges with hash

614
00:33:26,640 --> 00:33:29,880
Speaker 1: oil in her luggage. In the NHL, the Avalanche have

615
00:33:29,960 --> 00:33:32,880
Speaker 1: won the Stanley Cup after beating the Lightning. Baseball the

616
00:33:32,960 --> 00:33:36,040
Speaker 1: Yankees one, Mets lost, the Red Sox, Nationals and A's one.

617
00:33:36,560 --> 00:33:39,800
Speaker 1: The Orioles and Giants lost. Global news twenty four hours

618
00:33:39,880 --> 00:33:43,040
Speaker 1: a day on air and on Bloomberg Quicktake, powered by

619
00:33:43,120 --> 00:33:45,800
Speaker 1: more than twenty seven hundred journalists and analysts in more

620
00:33:45,840 --> 00:33:48,640
Speaker 1: than a hundred twenty countries. I'm Michael Barr. This is Bloomberg.

621
00:33:49,160 --> 00:33:54,320
Speaker 1: The following commentary is from Bloomberg Opinion. Decline of fossil

622
00:33:54,400 --> 00:33:57,640
Speaker 1: fuels isn't going to be cheap. I'm justin Fox, a

623
00:33:57,720 --> 00:34:01,840
Speaker 1: columnist for Bloomberg Opinion. Gastle consumption in the US is

624
00:34:01,880 --> 00:34:05,760
Speaker 1: currently running about five percent below pre pandemic levels, with

625
00:34:05,960 --> 00:34:09,839
Speaker 1: remote work seemingly here to stay, electric vehicle market share

626
00:34:10,040 --> 00:34:14,200
Speaker 1: rising rapidly and population growth awfully close to zero. Along

627
00:34:14,239 --> 00:34:17,240
Speaker 1: with shorter term pressures such as record high gas prices

628
00:34:17,600 --> 00:34:21,400
Speaker 1: and a possible recession, it's easier to envision more declines

629
00:34:21,640 --> 00:34:24,520
Speaker 1: than a big rebound. You might think that reduced demand

630
00:34:24,600 --> 00:34:27,120
Speaker 1: for a product in the prospect of more declines in

631
00:34:27,160 --> 00:34:30,400
Speaker 1: the future would put downward pressure on prices over the

632
00:34:30,440 --> 00:34:34,240
Speaker 1: long run. It usually does along the way, though reduced

633
00:34:34,320 --> 00:34:38,640
Speaker 1: incentives to invest in production capacity can complicate matters. Refinery

634
00:34:38,719 --> 00:34:41,080
Speaker 1: capacity in the US is down by more than five

635
00:34:41,160 --> 00:34:45,239
Speaker 1: percent from pre pandemic levels, and capacity constraints seem to

636
00:34:45,280 --> 00:34:48,560
Speaker 1: have become the biggest driver of rising gasoline prices. I'm

637
00:34:48,640 --> 00:34:52,200
Speaker 1: justin Fox. For more opinion, please go to Bloomberg dot com,

638
00:34:52,320 --> 00:34:54,960
Speaker 1: Slash Opinion or O P I N go on the

639
00:34:54,960 --> 00:34:59,920
Speaker 1: Bloomberg Terminal has been Bloomberg Opinion and Bloomberg Opinion. Come

640
00:35:00,000 --> 00:35:02,200
Speaker 1: and Darius, give me heard every weekday at this time

641
00:35:02,280 --> 00:35:04,800
Speaker 1: and terminal customers can read more at O p I

642
00:35:05,120 --> 00:35:08,080
Speaker 1: n GO. It is six fifty on Wall Street. Returned

643
00:35:08,120 --> 00:35:10,680
Speaker 1: to news and science and technology now with the Bloomberg

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Speaker 1: and j I T Stem Report brought to U buy

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Speaker 1: New Jersey Institute of Technology and j I T is

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Speaker 1: dedicated to bolstering support for female and minority students pursuing

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Speaker 1: careers and high paying STEM industries. Learn more at n

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Speaker 1: j I T, DOT E d U and Here's just

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Speaker 1: making News and Science, Technology, Engineering, and Math. Japan is

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Speaker 1: asking Tokyo residents to conserve power with unusually hot weather

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Speaker 1: stretching the city's grid. As fierce increase that the heat

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Speaker 1: could last for longer. Companies including Sony, turned off the

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Speaker 1: lights on its logo at some of its basis. A

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Speaker 1: group of protesters calling for a radical action to cut

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Speaker 1: Australia's carbon emissions shut one of Sydney's major roads this morning.

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Speaker 1: More than a hundred demonstrators from the climate protest group

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Speaker 1: Blockade Australia spark chaotic scenes in Sydney's Central Business district

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Speaker 1: during the morning commute. When the blocked major odes, including

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Speaker 1: the Harbor Tunnel, The Faceouh and Facebook will change his

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Speaker 1: algorithms to prevent discriminatory housing advertising and its parent company

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Speaker 1: will subject itself to court oversight to settle a lawsuit

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Speaker 1: brought by the Justice Department and a relace. US government

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Speaker 1: officials said it had reached agreement with Meta Platforms to

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Speaker 1: settle the lawsuit, filed simultaneously in Manhattan Federal Court. According

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Speaker 1: to the release, it was the Justice Department's first case

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Speaker 1: challenging algorithmic discrimination under the Fair Housing Act. That's a

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Speaker 1: Bloomberg j I T Stem report. Nathan, all right, Karen,

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Speaker 1: thank you. We're live from the Bloomberg Interactive Broker Studios

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Speaker 1: where it's six one on Wall Street, and it's now

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00:36:35,760 --> 00:36:37,640
Speaker 1: time to check what's going on in d C, where

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00:36:37,680 --> 00:36:40,319
Speaker 1: some of the top stories include the political fallout from

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Speaker 1: the Supreme Court's decision to overturn abortion rights. Democratic Senator

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Speaker 1: Elizabeth Warren tells ABC's This Week the court has lost

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Speaker 1: its legitimacy. I believe we need to get some confidence

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Speaker 1: back in our court, and that means we need more

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Speaker 1: justices on the United States Supreme Court. Democratic Congresswoman al

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Speaker 1: the Xandria Ocasio Cortes says some justices should be impeached

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Speaker 1: for saying Roevi Wade was settled law. This is a

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Speaker 1: crisis of legitimacy and President Biden must address that. Congresswoman

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Speaker 1: Ocasio Cortes was on NBC's Meet the Press. Justice Clarence

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Speaker 1: Thomas is suggesting the rights to contraception and marriage equality

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Speaker 1: should be reconsidered now, but Republican Senator Lindsey Graham tells

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Speaker 1: Fox News Sunday Justice Samuel Alito's decision set the right tone.

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Speaker 1: The reason he decided that Rob Wade was wrongly decided

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Speaker 1: is because it deals with the potential for life. These

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Speaker 1: are the privacy issues like contraception do not deal with

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Speaker 1: the potential for life. Also making news, the House January

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Speaker 1: sixth Committee focusing on former President Trump's efforts to overturn

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Speaker 1: an election he knew he lost. Committee member Jamie Raskin

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00:37:45,040 --> 00:37:48,160
Speaker 1: tells ABC's This Week, the former president has proven himself

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Speaker 1: unfit for office. That we're gonna have politicians who disappointed

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Speaker 1: with the results try to overthrow the election and just

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Speaker 1: sees power. Is that what American democracy is gonna look

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Speaker 1: like in the for centuries? And you can hear this

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Speaker 1: week Fox News Sunday and Meet the Press every Sunday

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Speaker 1: right here on Bloomberg Radio for more on all these

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Speaker 1: stories were joined by Bloomberg Government reporter Emily Wilkins. Are

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Speaker 1: sure has been following all the protests throughout the weekend.

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Speaker 1: Where do things go from here? Now? Emily in a

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Speaker 1: post Row America? So if you ask Democrats in the

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Speaker 1: House that I did on Friday, what happens next, A

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Speaker 1: lot of them will point right to November. They'll point

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Speaker 1: right to the veil boxes, and they say, this is

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Speaker 1: something that is now going to be very much in

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Speaker 1: voters hands. And we saw that, you know right now,

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Speaker 1: voters they did not want Row versus Way to be overturned.

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Speaker 1: A CBS poll conducted on Friday shows that US fifty

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Speaker 1: nine percent of Americans disapproved with the ruling, including sixty

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Speaker 1: seven percents of women, which is a group that Republicans

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Speaker 1: have really been working to make sure, you know, are

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Speaker 1: are supportive of their agenda come November. We've seen a

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Speaker 1: lot of messaging from Republicans really targeted up women at

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Speaker 1: the urban woman, and this could be something that leads

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Speaker 1: many of them to decide to vote for the Democrats

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Speaker 1: this November rather than the Republican that's a the Republican

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Speaker 1: base is still very much on board with overturning Roe

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Speaker 1: versus Weigh and criminalizing abortion it states that want to

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Speaker 1: have that happen. Uh. The CBS Full of found that

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Speaker 1: seventy eight percent of Republicans approved of overturning the ruling.

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Speaker 1: And so we'll just we'll still see how this plays

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Speaker 1: out in the elections. A lot of lawmakers who I

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Speaker 1: did speak to said that, you know, we do have

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Speaker 1: to keep in mind the fact that inflation is still

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Speaker 1: a major topic. Ti gas crisis is still something that's

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Speaker 1: very much on American's minds. But Nathan, one of the

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Speaker 1: big things about mid terms is turnout, and Democrats who

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Speaker 1: might have otherwise stayed home, who are now worried about

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Speaker 1: the future of abortion rights, this might be enough to

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Speaker 1: motivate them to make sure that they're paying attention to

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Speaker 1: the elections this November and actually taking the time to

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Speaker 1: cast vote. What about the process questions on Capitol Hill?

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Speaker 1: Does this put more emphasis on some of the lawmakers

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Speaker 1: who have been opposed in the past to things like

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Speaker 1: ending the filibuster or putting more justices on the Supreme Court?

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Speaker 1: Do those get more attention now? From what we saw

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Speaker 1: on Friday, they do get more attention, but we haven't

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Speaker 1: really seen any signs, Nathan, that more attention is necessarily

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Speaker 1: going to be enough to end the fellowbuster. We've seen

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Speaker 1: lawmakers very strongly, very uniformly opposed to doing that remains

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Speaker 1: so despite incredible pressure for them to remove the felibuster

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Speaker 1: for other things. UM. You did, however, see Joe Manchin,

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Speaker 1: who has previously, you know, um, not always been with

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Speaker 1: the abortion rights group, more with the anti abortion group. UM,

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Speaker 1: actually come out on Friday and say he would support

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Speaker 1: legislation to codify Roe versus Wade. Although it's hopeful that

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Speaker 1: there will be a bipartisan solution. It'll be interesting to

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Speaker 1: see if he Susan Collins and losing Meer cows Feed

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Speaker 1: put their heads together at all. The House has already

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Speaker 1: passed legislation that would codify Roe versus Wade, but right

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Speaker 1: now it doesn't stand the chance of passing a Senate

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Speaker 1: f on buster on me. About a minute left here, Emily,

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Speaker 1: what's happening next with the January sixth hearings. There's a

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Speaker 1: recess now for Congress, isn't there. Yeah, we were gonna

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Speaker 1: have some hearings this week, but those have been delayed.

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Speaker 1: You've heard lawmakers say that they just need some more

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Speaker 1: time to really put these hearings together. And Nathan, as

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00:41:27,200 --> 00:41:29,839
Speaker 1: someone who's watched hearings on Capitol Hell over years, these

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00:41:29,920 --> 00:41:34,560
Speaker 1: January six hearings are incredibly unique. You usually see hearings

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00:41:34,680 --> 00:41:38,000
Speaker 1: kind of just very scattered. Lawmakers will take different things

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Speaker 1: in different ways. Parties are not unified, and the questions

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Speaker 1: that they want to ask the witnesses. These January six

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Speaker 1: committee hearings, they're highly stylized, They're intensely produced, the way

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Speaker 1: they use video and witnesses, the way that questions are

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Speaker 1: kept on track. Um, they really have beyond to really

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Speaker 1: have the effect where they are able to produce some

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Speaker 1: new evidence, So they are reported on frequently, but also

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Speaker 1: just really clearify not just the events of January six,

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Speaker 1: with the events leading up to it that show a

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Speaker 1: clear pattern of Trump trying to make sure that he

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Speaker 1: was able to be cleared the winner of the election.

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Speaker 1: Thanks for all this, Emily good having gone with us.

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Speaker 1: Bloomberg Government reporter Emily Wilkins from Washington, d C. Read

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Speaker 1: more about these stories on Bloomberg dot com or on

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Speaker 1: the Bloomberg terminal. Listen to Bloomberg Radio in Washington, Bloomberg

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Speaker 1: and one oh five point seven FM h D two.

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Speaker 1: Right now, sp futures are up twelve points, Staff futures

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Speaker 1: up seventy eight. NASTAC futures are higher by fifty two points.

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Speaker 1: The tenure Treasury is down eleven thirty seconds. The yield

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00:42:38,719 --> 00:42:43,560
Speaker 1: three point one seven per cent. Bloomberg surveillance is next

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Speaker 1: for Karen Moscow. I'm Nathan Hagar, and this is Bloomberg