Speaker 1: Live from the Bloomberg Interactor Berger Studios. This is is Bloomberg
Speaker 1: Daybreak for Friday, April one. Coming up this hour, peace
Speaker 1: talks are set to resume between Russia and Ukraine. The
Speaker 1: second quarter kicks off after a historically bad one for
Speaker 1: stocks and bonds, Talks of a recession threatened confidence for investors,
Speaker 1: and Wall Street looks to the march. Johns are four
Speaker 1: for the latest reading on the economy. A Jade orders
Speaker 1: New York's Democrat controlled legislature to redraw the states congressional districts.
Speaker 1: Plus New Jersey Governor Murphy has covid on Michael bar
Speaker 1: More ahead, I'm John stash Tower and sports over time
Speaker 1: in Brooklyn, The Bucks beat the Nets, and yet another
Speaker 1: injury concern for Metzas Jacob de Grand. That's all straight
Speaker 1: ahead on Bloomberg day Break on Bloomberg eleven, Trio, New York,
Speaker 1: Bloomberg Washington, d C, Bloomberg one six one, Boston, Bloomberg
Speaker 1: nine six, San Francisco, Sirius x M one nine team,
Speaker 1: and around the world on Bloomberg Radio dot Com and
Speaker 1: via The Bloomberg Business and Good Friday Morning. I'm Nathan Hagar,
Speaker 1: and I'm Karen, mostown and US Dock Index futures are
Speaker 1: higher this morning, and we are coming up to five
Speaker 1: out one on Wall Street. We checked the markets every
Speaker 1: fifteen minutes throughout the trading day on Bloomberg and right
Speaker 1: now U S and P futures are up about eighteen
Speaker 1: points Down futures have one thirty seven, and NASDAG futures
Speaker 1: are up fifty two. The ten year treasury down twenty
Speaker 1: thirty seconds, the l two point for one per cent. Nathan,
Speaker 1: all right, Karen, We'll have more on the markets in
Speaker 1: a minute, but first we start in Ukraine. Peace talks
Speaker 1: with Russia are set to resume today. These negotiations will
Speaker 1: be by video link. Russia says two Ukrainian military helicopters
Speaker 1: have made a strike across the border, hitting a Russian
Speaker 1: oil tank facility. Amy Morris has the latest from our
Speaker 1: Bloomberg newsroom in Washington. Kiva has not confirmed the strike
Speaker 1: in Russia, but did say it's forces retook several villages
Speaker 1: in the curse And region to the south. This as
Speaker 1: President Biden says Vladimir Putin may have detained some of
Speaker 1: his own advisors. He seems to be self wastolated and
Speaker 1: there's some indication that he has um fired or put
Speaker 1: in the house arrest some of his advisers. Meanwhile, the
Speaker 1: United Nations says relief convoys are unable so far to
Speaker 1: reach Mariopal, but Russia says it will open a humanitarian
Speaker 1: corridor there today in Washington, I maybe more as Bloomberg daybreak.
Speaker 1: All right, Amy, thank you well. China is also in
Speaker 1: focus as morning. European leaders are warning Beijing about involvement
Speaker 1: in the war. And we go live to London and
Speaker 1: get the leaders and Bloomberg's un parts. Good morning, Uen,
Speaker 1: Good morning Karen and Nathan. The European Commission's president says
Speaker 1: China has a special responsibility to demand that Russia respects
Speaker 1: international law and to defend Ukraine's sovereignty. That's the message
Speaker 1: to us. The Vondeli will deliver the Beijing today at
Speaker 1: a virtual summits expected to be dominated by Russia's war.
Speaker 1: Europeans are expected to tell China that any help to
Speaker 1: Moscow to avoid sanctions or to supply happens well results
Speaker 1: in severe consequences. Live in London, i'mumpulse break, okay you
Speaker 1: and thanks. Let's turn back to markets now and checkout oil,
Speaker 1: it's heading for its biggest weekly loss almost two years.
Speaker 1: Checking prices now, Nimex cruise down a half percent or
Speaker 1: forty eight cents at ninety four cents of arrel. Brent
Speaker 1: is at a hundred four dollars fifty four cents. All
Speaker 1: this after the White House ordered an unprecedented release from
Speaker 1: the strategic reserves. Democratic Michigan Congressman Dan Kilde says it's
Speaker 1: a good first step. I don't think by itself it
Speaker 1: solves the problem, but it's a step. I'd like to
Speaker 1: see us do a couple other things, but this is
Speaker 1: a step in the right direction. People need relief at
Speaker 1: the pump, and this will make a difference in terms
Speaker 1: of the prices they're seeing for everything. Congressman Dan Kilde
Speaker 1: also supports temporary lifting of the federal and state gas tax.
Speaker 1: He spoke with our Washington correspondent Joe Matthew on Bloomberg
Speaker 1: Sound on Catch the program weekdays at five pm Eastern
Speaker 1: on Bloomberg Radio. More inflation and the lingering impact of
Speaker 1: the pandemic made the first quarter a historically rough one
Speaker 1: for investors. Nathan and more than three trillion dollars were
Speaker 1: erase from bond and equity values in the period. Megan Hornman,
Speaker 1: chief investment officer at Verdens Capital Advisors, sees the current
Speaker 1: situation as a buying opportunity. We are also looking at
Speaker 1: some of the areas that are getting beaten down the most,
Speaker 1: you know, some of the growth areas that got hit
Speaker 1: really bad in January and February. We did put some
Speaker 1: money to work there, thinking that over the long run
Speaker 1: that they had been unfairly pushed lower because of what's
Speaker 1: going on with interest rates as well as the war
Speaker 1: with fresh in Ukraine. Megan Hornman with Verdens Capital Advisor
Speaker 1: says earning season will be a key for future market action. Well.
Speaker 1: Questions are swirling about what earnings will look like, Karen,
Speaker 1: and also whether a recession is coming. City Group Global
Speaker 1: Chief economist Nathan Sheet says the odds of one are
Speaker 1: significant globally, UH it's around a third UH. The geo
Speaker 1: political situation, the energy situation is very severe. I think
Speaker 1: in the United States we are insulated anach when I
Speaker 1: think about kind of the global situation coupled with the
Speaker 1: Federal Reserve potentially hiking very rapidly, maybe one in four
Speaker 1: over the next eighteen months. It is it is significant.
Speaker 1: The City Group Global Chief Economist Nathan Sheets made the
Speaker 1: comments on Bloomberg's Balance of Power Catch the program weekdays
Speaker 1: at noon Eastern on Bloomberg Radio and Television. Well Nathan
Speaker 1: began more clues about the economy later this morning with
Speaker 1: the release of the March jobs are for at The
Speaker 1: median forecast calls for four hundred ninety thousand new jobs
Speaker 1: at an unemployment rate of three point seven percent. To
Speaker 1: get more from Bloomberg's Michael McKee, analysts expect March was
Speaker 1: another strong month of job growth, although borrowing a major surprise,
Speaker 1: the numbers may not make a whole lot of difference
Speaker 1: to the Fed. Policymakers have all but said they're in
Speaker 1: line to raise the nation's benchmark lending rate by half
Speaker 1: a percentage point on May fourth. Nevertheless, they will feel
Speaker 1: better if they see a lot of Americans going back
Speaker 1: into the labor force. That would ease pressure on wages
Speaker 1: and therefore on inflation. That's particularly true for manufacturing. Company
Speaker 1: have struggled to find factory workers, leading some to turn
Speaker 1: away business. Michael McKee, Bloomberg Daybreak. All right, Mike, thanks,
Speaker 1: Let's turn to corporate News Now with a focus on
Speaker 1: the world's largest retail site. The push to unionize at
Speaker 1: Amazon is growing. Let's get the latest life from Bloomberg's
Speaker 1: Rnita Young. Good morning, Ranita, Good morning Nathan. The upstart
Speaker 1: Amazon labor union in Staten Island is closer to forming
Speaker 1: workers who want to organize our leading by more than
Speaker 1: three hundred fifty votes out of about twenty hundred, talied
Speaker 1: That count will continue today. Meantime, Amazon were warehouse workers
Speaker 1: in Alabama voted to reject a union in a tight
Speaker 1: race yesterday, but the National Labor Relations Board says about
Speaker 1: a quarter of the votes are challenged and will need
Speaker 1: to be reviewed. Those could potentially change the outcome. Live
Speaker 1: in New York, I'm Nita Young, Bloomberg Daybreak. All right, Granita,
Speaker 1: thank you. And in early trading this morning, rushing shares
Speaker 1: of Game stop moving higher, up fourteen and a half percent.
Speaker 1: The video game retailer plans to ask shareholders for approval
Speaker 1: of a stoch and in the form of a dividend,
Speaker 1: and mirror's recent moves from Amazon, Alphabet and Tesla futures
Speaker 1: this morning are higher. SMP future is up about sixteen
Speaker 1: points down futures up a hundred twenty four Nasday futures
Speaker 1: at forty three and straight ahead your latest local headlines
Speaker 1: plus a check of sports. And this is Bloomberg, Karen,
Speaker 1: thanks to five oh seven on Wall Street. Were fifty
Speaker 1: eight degrees in Central Park. We have a vehicle fire
Speaker 1: on the southbound Garden State Parkway, Newyorks of one thirty five.
Speaker 1: Details coming up in traffic. First Michael Barr with what
Speaker 1: else is going on in New York and around the
Speaker 1: world on this April Fool's Day. Everything's true, of course, Michael, yes,
Speaker 1: it is, Thank you very much, Nathan. A judge has
Speaker 1: ordered New York's Democratic Control legislature to redraw the states
Speaker 1: congressional and legislative districts after finding they were unconstitutional. Judge
Speaker 1: Patrick mcallistairs said in ruling that maps redrawing the state's
Speaker 1: congressional districts were jerrymander to benefit Democrats. Judge mcdallistair gave
Speaker 1: lawmakers until April eleventh to try again. If their new
Speaker 1: maps failed to pass muster in the courts again, the
Speaker 1: judge said he would order the state to pay for
Speaker 1: court approved expert to redraw the maps. The NMPD says
Speaker 1: a twelve year old boy was killed by gunfire as
Speaker 1: he was eating in a parked car in Brooklyn with
Speaker 1: two family members, one of whom was shot and wounded.
Speaker 1: Assistant Chief Michael Kemper said the boy was shot multiple
Speaker 1: times and pronounced dead at the scene. A preliminary investigation
Speaker 1: reveals that the three pulled over in the car to
Speaker 1: eat some food when shots were fired that penetrated their vehicle.
Speaker 1: Kemper said a twenty year old woman in the driver's
Speaker 1: seat was taken to the hospital and is expected to recover.
Speaker 1: An eight year old girl in the back seat was unhurt.
Speaker 1: New York City Mayor Eric Adams, also at the New scofference,
Speaker 1: stressed the importance of getting guns off the streets. The
Speaker 1: question I can see to ask, what about the innocent people?
Speaker 1: What about people us sitting in their cause and his
Speaker 1: shot and kill. We so much about those who are fighting,
Speaker 1: but when are we going to stop fighting for the
Speaker 1: innocent people of this city. Mayor Adams says we need
Speaker 1: everyone to help us in this senseless violence. New Jersey
Speaker 1: Governor Phil Murphy as tested positive for COVID nineteen and
Speaker 1: will isolate for five days. A spokesperson says Murphy is
Speaker 1: asymptomatic and feeling well, but will cancel all events for now.
Speaker 1: Most New Yorkers who worked from home during the pandemic
Speaker 1: plan to cut their time in the office by nearly
Speaker 1: half and spend less money in the city annually. According
Speaker 1: to Stanford economics professor Nicholas Bloom, the average New York
Speaker 1: City office worker would slash annual spending in the city
Speaker 1: by more than sixty seven hundred dollars, down from an
Speaker 1: estimated twelve thousand, five hundred before the pandemic. At the
Speaker 1: conference of the Federal Reserve Bank of New York, Bloom
Speaker 1: said the remote work pushed could cost New York between
Speaker 1: five and ten percent of its city center population. Global
Speaker 1: News twenty four hours a day on air rand on
Speaker 1: Bloomberg Quick eight, powered by more than twenty seven hundred
Speaker 1: journalists and analysts more than a hundred twenty countries. Michael Barr,
Speaker 1: this is Bloomberg. Nathin. All right, Michael, thank you. We're
Speaker 1: coming up to five ten on Wall Street. It's time
Speaker 1: for the Bloomberg Sports Update. Happy Friday, John step Shower,
Speaker 1: and thanks Nathan. Originally, the plan was for Jacob de
Speaker 1: Grand to spend the last day of March on the
Speaker 1: Mountain City Field. Pitch you'd opening day for the Mets Courts.
Speaker 1: Opening day pushed back a week after the lockouts of
Speaker 1: De gram instead was doing some long tossing in Port St.
Speaker 1: Lucy and he felt some tightness in his shoulder, and
Speaker 1: every Mets fan had the same thought, here we go again.
Speaker 1: When de Grand pitches, he's the best there is, but
Speaker 1: so often he doesn't pitch. Missed the second half of
Speaker 1: last seams to len elbow injury. He's likely headed for
Speaker 1: an m r I over Town and Brooklyn. Milwaukee top
Speaker 1: the Nets one nineteen Jana's sons, the Compost scored forty
Speaker 1: four points, Kevin Uran had twenty six Caven twenty five Islanders,
Speaker 1: Big Columbus five to the Devils lost in Boston eight
Speaker 1: to one, the last n I T game at the Garden,
Speaker 1: at least for a while. They are now going to
Speaker 1: move the turn them in around to other cities. Avior
Speaker 1: top Texas, A and M in a game with seventeen
Speaker 1: league changes, seventy three seventy two. Women's Final four starts
Speaker 1: tonight in Minneapolis, the men tomorrow in New Orleans. Four
Speaker 1: days after coaching St. Peter's in the n C Double
Speaker 1: A Elite, h Jaheen Holloway introduced as the new coach
Speaker 1: at Keaton Hall. I hope you guys are ready to work.
Speaker 1: I hope you gots are ready to work, because that's
Speaker 1: bla blah blah blah bla work blah Hallward, no shortcuts,
Speaker 1: no nothing. I hope you guys are to work. I
Speaker 1: know I'll watch his team while I know what you
Speaker 1: think to do. So after this meet and after this
Speaker 1: press office or the thing, will you need to go
Speaker 1: understand what's gonna take to be played for me? Understand
Speaker 1: the traditions of seta Hall. University needs to seton Hall.
Speaker 1: Along all of Halloway. St. Peter's players attended the presser
Speaker 1: in South Orange. They gave their former coach a standardization.
Speaker 1: John Stash were Bloomberg sports all right, John, thank you
Speaker 1: right now. S and P futures are up fifteen point,
Speaker 1: staff futures up a hundred twenty two. Nastack futures are
Speaker 1: higher by forty four points. As we get ready for
Speaker 1: the first trading day of the second quarter. This is Bloomberg.
Speaker 1: Bloomberg eleven three weather. Partial sun today with a high
Speaker 1: near sixty degrees. That will be probably mostly sunny, mid
Speaker 1: fifties tomorrow, chance for a few showers by Sunday. Otherwise
Speaker 1: more clouds than sun and highs in the low fifties
Speaker 1: right now fifty eight degrees in Central Park. Markets. Headlines
Speaker 1: and breaking news twenty four hours a day at Bloomberg
Speaker 1: dot com, the Bloomberg Business at and at Bloomberg Quicktape.
Speaker 1: This is a Bloomberg business clash and I'm Karen Moscow.
Speaker 1: European stocks in US stock Index futures are rising as
Speaker 1: investors evaluate the economic outlook amid moderating oil prices, tightening
Speaker 1: federal reserve monetary policy, and Rush's war in Ukraine. Europe
Speaker 1: Stock six hundred is gaining after its worst quarter since
Speaker 1: the pandemic bear market, while technology shares fall. US Dot
Speaker 1: Index futures are higher. We check the markets every fifty
Speaker 1: minutes throughout the trading day on bloomberg s and p
Speaker 1: Future is a fifteen points down, futures of A hundred
Speaker 1: twenty four and NASDAG future is up forty two. The
Speaker 1: decks in Germany is little changed and your treasury down
Speaker 1: eighteen thirty seconds yield two point four zero percent. They
Speaker 1: yield on the two year two point three eight percent.
Speaker 1: Nive X screwed oil is up half percent or fifty
Speaker 1: seven cents at a hundred dollars eighty six cents of
Speaker 1: barrel comics gold is down three quarters of a percent,
Speaker 1: or fourteen dollars fifty cents. In nineteen thirty nine, fifty
Speaker 1: announced the euro one point one zero five two against
Speaker 1: the dollar, British bound one point three one to seven,
Speaker 1: the ends at one twenty two point four four and
Speaker 1: bitcoins lower down one point four percent at forty five thousand,
Speaker 1: one hundred ten dollars. And today we are watching for
Speaker 1: the March jobs report at eight thirty well straight time,
Speaker 1: and Eurozone inflation accelerated to another all time high, March
Speaker 1: consumer prices surging seven and a half percent from a
Speaker 1: year ago, up from five point nine percent in February.
Speaker 1: That's a Bloomberg business flash. Now here's Michael Barr with
Speaker 1: more on what's going on around the world. Uncle, Good morning,
Speaker 1: Good morning, Karin. And Russia claims Ukrainian forces have attacked
Speaker 1: a fuel depot across the border inside of Russia. If confirmed,
Speaker 1: it would be the first Ukrainian air strike on Russian
Speaker 1: soil since the war started. Meanwhile, Ukrainian authorities say Russian
Speaker 1: troops have left the heavily contaminated Chernobyl nuclear site. It
Speaker 1: comes as Russia confirms video talks will resume today with
Speaker 1: Ukraine video video links. The European Union will seek China's
Speaker 1: assurances that it won't assist Russia in circum banning economic
Speaker 1: sanctions leveled over the invasion of Ukraine and an annual
Speaker 1: summit today. In the NBA, the Nets lost. In the NHL,
Speaker 1: the Bruins put on what For and Why Weapon? On
Speaker 1: the Devil's eight one, the Islanders one. Global news twenty
Speaker 1: four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than the journalists and analysts more than
Speaker 1: a hundred twenty countries. Hi, Michael bar this is Bloomberg Nather.
Speaker 1: That's not in April full scar is it might go
Speaker 1: not at all for the uninitiated. Eight one is rather
Speaker 1: lopsided in hockey, all right, thank you very much for that.
Speaker 1: It's coming up to five twenty on Wall Street Live
Speaker 1: from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak
Speaker 1: and its signs that the tables maybe turning in the
Speaker 1: war in Ukraine. Let's get the Washington perspective now, more
Speaker 1: than a month since the Russian invasion. Bloomberg Government reporter
Speaker 1: Emily Wilkins joins US now from the nation's capital. Emily,
Speaker 1: good morning. As we heard, uh, Russia is now saying
Speaker 1: that Ukraine has actually targeted an oil facility in its territory,
Speaker 1: the first cross border action in this war. What's the
Speaker 1: White House assessment of how things are going against Russia?
Speaker 1: And I think we're definitely gonna learn a little bit
Speaker 1: more about this as you know, Washington continues to wake
Speaker 1: up and see reports about these helicopters making this really
Speaker 1: rare cross border move and to attack an oil storage facility. UM.
Speaker 1: I think really at this point you have seen wide
Speaker 1: ranging bipartisan support on behalf of Ukraine, that Ukraine is
Speaker 1: the victim here, that they were the one attacked, and
Speaker 1: that they are doing everything that they need to sort
Speaker 1: of keep keep their people safe and and keep going
Speaker 1: as a as a country and as a democracy. UM.
Speaker 1: But definitely this will be something to watch throughout the
Speaker 1: day exactly what the response here is and how, if
Speaker 1: at all, this might change request for aid requests for
Speaker 1: weapons um. Right now, the Biden administration is considering that
Speaker 1: half billion to Ukraine in funding an additional aid um
Speaker 1: that would be humanitarian as well as military. And we're
Speaker 1: seeing Congress continue to discuss sanctions on Russia as well.
Speaker 1: So definitely still a lot of activity in Washington in
Speaker 1: support of Ukraine. And it's been very interesting Emily as
Speaker 1: well to hear President Biden get even more candid about
Speaker 1: how he thinks things are being perceived by Russian President
Speaker 1: Vladimir Putin, this idea that the president may be self isolated,
Speaker 1: maybe misled by his own advisors. What's the advantage for
Speaker 1: President Biden to put out this kind of speculation, as
Speaker 1: he him self terms it, about how Putin is perceiving things. Sure,
Speaker 1: and I do want to just note here that the
Speaker 1: President did say that he didn't want to put too
Speaker 1: much stock in it at this time because we don't
Speaker 1: have that much hard evidence that these advisors are now
Speaker 1: under house arrest. But it really kind of shows this
Speaker 1: isolation of Putin, and it would suggest, if it is correct,
Speaker 1: that perhaps there have been some cracks within Putin's inner circle,
Speaker 1: which was the Bowl of sanctioning some of these Oldgarks
Speaker 1: and other people that were supposedly close with Putin. I mean,
Speaker 1: the idea for things like that is that by hitting
Speaker 1: people close to Putin, then they will put pressure on
Speaker 1: Putin to either change course or you know, potentially take
Speaker 1: other actions. And so I think at this point that's
Speaker 1: kind of the impression that the White House wants to give.
Speaker 1: It is coming at a point where there also has
Speaker 1: been reporting that a number of Algarks have not been
Speaker 1: sanctioned in Russia and that the sanctioned system is not
Speaker 1: perhaps as strong as it could be, that there's not
Speaker 1: a ton of coordination between who's being sanctioned by which countries. Uh,
Speaker 1: And I think this might be sort of a way
Speaker 1: for the Biden administration to kind of emphasize that these
Speaker 1: sanctions do but are potentially doing something. And speaking of pressure,
Speaker 1: I think it's safe to say that the president's feeling
Speaker 1: some pressure when it comes to inflation, with this announcement
Speaker 1: that there's going to be this pretty huge, though long
Speaker 1: slow release from the Strategic Reserve. Yeah, he is absolutely
Speaker 1: feeling pressure, There's no question about it, from within his
Speaker 1: own party, which is already facing a very tough mid term.
Speaker 1: You know, Nathan, Historically, if if you're the party that's
Speaker 1: in power, that's saying in the White House, mid terms
Speaker 1: are not good for you, and they just get worse.
Speaker 1: The worse are a president's approval rating gets. And part
Speaker 1: of that is side to oil and gas prices. Americans
Speaker 1: do blame Biden more so than they do putin or
Speaker 1: big oil companies for the spike in prices, and so
Speaker 1: this is a way for Biden to try and send
Speaker 1: the message that he is doing something to be active
Speaker 1: in it. I think there is a question of exactly
Speaker 1: how much that might ultimately wind up lowering gas prices.
Speaker 1: We did didn't see huge drops um last year when
Speaker 1: President Biden also tapped the strategic reserves. So I think
Speaker 1: that's a serve of a question about what will happen next.
Speaker 1: We also know that in the House and in the Senate,
Speaker 1: Democrats are startings who look at bills that could potentially
Speaker 1: reduce the price and oil and start discussing it. UH
Speaker 1: Speaker Nancy Pelosi yesterday dismissed the idea that there would
Speaker 1: be a holiday from the gas tax because she's worried
Speaker 1: the savings would not be passed down from oil companies
Speaker 1: to consumers. But she mentioned potentially a windfall tax um.
Speaker 1: There's been some other things that have been considered in
Speaker 1: terms of putting pressure on oil companies to lower their prices.
Speaker 1: Thanks for this, Emily, good having you on with us.
Speaker 1: Bloomberg Government reporter Emily Wilkins for our ninety nine one
Speaker 1: studios in Washington, d C. Just taking a quick look
Speaker 1: at oil right now. It's starting to move up with
Speaker 1: nimex screwed up seven tenths percent above a hundred dollars
Speaker 1: of barrel now at a hundred dollars nine two cents
Speaker 1: and brents at a hundred five sixty. Future is moving
Speaker 1: higher as well as we get ready for the first
Speaker 1: trading day of the second quarter. You're listening to Bloomberg
Speaker 1: Daybreak Bloomberg eleventh, three oh weather showers a good way
Speaker 1: to partial sunshine today with higher sixty degrees, mid fifties,
Speaker 1: partly mostly sunny Tomorrow, more clouds than sun Sunday with
Speaker 1: highs in the low fifties. Right now, showers in fifty
Speaker 1: seven degrees in Central Park. Broadcasting live from the Bloomberg
Speaker 1: Interactive Broker Studio in New York, Bloomberg E living free
Speaker 1: to Washington, d C. Bloomberg on to Boston, Bloomberg one
Speaker 1: A six one to San Francisco, Bloomberg non sixteen to
Speaker 1: the country, Sirius XM. Gentle one nineteen and around the globe,
Speaker 1: the Bloomberg Business and Bloomberg Radio dot Com. This is
Speaker 1: Bloomberg Daybreak. It's my thirty on Wall Street. Good morning.
Speaker 1: I'm Nathan Hagard and I'm Karen Moscow. We are just
Speaker 1: about four hours away from the open of US trading.
Speaker 1: Let's get you up to date on the news you
Speaker 1: need to know at this Shower of the tables may
Speaker 1: be turning in the war in Ukraine. Russia says to
Speaker 1: Ukrainian helicopters hit a Russian oil tank facility, and Ukraine
Speaker 1: says it's retaken territory in the Curson and Turnative regions.
Speaker 1: President Biden says the war is not going well for
Speaker 1: Vladimir Putin. I'm not saying this was a certainty. He
Speaker 1: seems to be self isolated, and there's some indication that
Speaker 1: he has um fired or put under house arrest some
Speaker 1: of his advisors. President Biden cautions, though that there's not
Speaker 1: much hard evidence on that talks between Ukraine and Russia
Speaker 1: are set to resume by video today. Meantime, carrying the
Speaker 1: White House decision to release US strategic oil reserves has
Speaker 1: crewed on track for its biggest weekly loss in almost
Speaker 1: two years. After dropping seven percent yesterday, oils up this morning.
Speaker 1: Russ Texas Intermediates hired by six tenths per cent, or
Speaker 1: sixty seven cents at a hundred dollars cents of barrel.
Speaker 1: Brent Is hired by nine tenths percent at a hundred
Speaker 1: five dollars fifty eight cents. Well as the beginning of
Speaker 1: the second quarter, Nathan more than three trillion dollars or
Speaker 1: a race from bond and equity values. In the first quarter.
Speaker 1: The SNP five drop four point nine percent, while treasuries
Speaker 1: fell five point six percent. This morning, futures are higher.
Speaker 1: SNP futures are up twenty two points for markets today,
Speaker 1: it's all about March jobs, care and economists surveyed by
Speaker 1: Bloomberg forecasting gain of almost a half million payrolls. They
Speaker 1: also see the unemployment rate falling to three point seven percent.
Speaker 1: Bloomberg's Vinny del Judace has more America's economy is added
Speaker 1: about one point two million jobs since the start of
Speaker 1: the year. Job openings to eleven point three million in February,
Speaker 1: just shy of a record Bloombreak economics, labor market is
Speaker 1: room to run, with payrolls still below February twenties peak
Speaker 1: just before the pandemic landed in the US. Look at
Speaker 1: weekly jobless claims, they dropped to a half century low
Speaker 1: in mid March. They had been running in the millions
Speaker 1: in the early stages of the pandemic. Vinny del Judaic
Speaker 1: Bloomberg Day Break, Graig Vinny, thank you. Let's her in
Speaker 1: the corporate news now with a focus on the world's
Speaker 1: largest retail site. To push to unionize at Amazon is
Speaker 1: growing and Bloomers Reny to Young joins US Live. But
Speaker 1: the latest Good morning, Renny to Good morning Karen. The
Speaker 1: upstart Amazon labor union in Staton Island is closer to forming.
Speaker 1: Workers who want to organize are leading by more than
Speaker 1: three hundred fifty votes out of about twenty six hundred
Speaker 1: talied That count will continue today. Meantime, Amazon workers in
Speaker 1: Alabama voted to reject a union in a tight race yesterday,
Speaker 1: but the National Labor Relations Board says about a quarter
Speaker 1: of the votes are challenged, it will need to be reviewed.
Speaker 1: Those could potentially change the outcome. Live in New York,
Speaker 1: I'm Renny to Young Bloomberg day Break, h Rea to thanks.
Speaker 1: It's five thirty three on Wall Street where a fifties
Speaker 1: seven degrees in Central Park and accident investigation as the
Speaker 1: ramp from northbound four forty northbound Root nine and Woodbridge closed.
Speaker 1: Tales coming up in traffic. First Michael bar with more
Speaker 1: on what's going on in New York and around the world. Michael,
Speaker 1: thank you very much, Nathan to Judges ordered New York's
Speaker 1: Democratic controlled legislature to redraw the states congressional and legislative
Speaker 1: districts after finding they were unconstitutional. State Trial Court Judge
Speaker 1: Patrick McAllister's said, and a ruling that maps redrawing the
Speaker 1: states congressional districts were jerrymander to benefit Democrats. The judge
Speaker 1: gave lawmakers until April eleventh to redo the maps. If
Speaker 1: the new maps failed to pass muster in the courts again,
Speaker 1: the judge said he would order the state to pay
Speaker 1: for a court approved expert to redraw the maps. The
Speaker 1: federal judge has overturned most of a restrictive Florida voting law,
Speaker 1: calling it discriminatory. The judge has ruled that the sections
Speaker 1: of the law, including restricting voting by mail and the
Speaker 1: use of drop boxes, were unconstitutional. Florida Governor Rhnda Santis,
Speaker 1: it's an election integrity law. I wouldn't say it's a
Speaker 1: restriction at all. To have somebody show identification is not
Speaker 1: a restriction. It's common sense and some of the other
Speaker 1: things we did. Governor de Santis says the state will appeal.
Speaker 1: Police in New York City need your help after a
Speaker 1: shooting in Brooklyn last night and left the twelve year
Speaker 1: old boy dead. He was killed while sitting in a
Speaker 1: parked vehicle with two relatives. Authorities say it's twenty year old.
Speaker 1: A woman in the driver's seat was also hit by
Speaker 1: the gunfire, but is expected to survive. Speaking to reporters
Speaker 1: from the scene, NYPD Assistant Chief Michael Kemper, no, that's
Speaker 1: senseless shooting this time, the shooting involving the death of
Speaker 1: a twelve year old child. Assistant Chief Kemper was joined
Speaker 1: by New York Mayor Eric Adams. Who're gonna kiss this
Speaker 1: shoot up. But as long as we have guns and'n
Speaker 1: to evolve indoors system. We're going to continue to come
Speaker 1: to crime scenes like this. It's time for it to stop.
Speaker 1: Mayor Adams says at least eleven rounds were fired at
Speaker 1: the scene in East Flatbush, New Jersey. Governor Phil Murphy
Speaker 1: has COVID. A spokesperson for the governor says Murphy has
Speaker 1: tested positive for COVID nineteen and will isolate for five days.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven under
Speaker 1: journalist and analyst more than a hundred twenty countries. I'm
Speaker 1: Michael Barr. This is Bloomberg, Nathan. Thanks Michael on Wall Street.
Speaker 1: Time for the Bloomberg Sports Update, Houston Senational. All right,
Speaker 1: and it was an elbow injury that prevented Jacob Deground
Speaker 1: from pitching the second half of last season. But the
Speaker 1: Mets as has had virtually every injury his neck, to
Speaker 1: his back, lat forearm. Now for a second time an
Speaker 1: issue with his shoulder to ground felt tightness while doing
Speaker 1: some long crossing, so he won't pitch a schedule today. Instead,
Speaker 1: it will have an m R I. The hope still
Speaker 1: is to have the ground pitch opening day next Thursday
Speaker 1: in Washington, the Nationals beat the Mets in Fort say Lucy.
Speaker 1: The Nats came in one and ten in spring training.
Speaker 1: They were coming off the loss of the Cardinals where
Speaker 1: they gave up twenty nine runs fifteen and one inning.
Speaker 1: The Yankees loss of affillies. Milwaukee Bucks last praying one
Speaker 1: of Game seven in Brooklyn and overtime. The Bucks last
Speaker 1: night one in Brooklyn in overtime one twenty the one
Speaker 1: nineteen Yahndo his son to the compost for forty four points.
Speaker 1: His three pointer fourcedot. He moved past Kareem abdul Jabbar
Speaker 1: became the Bucks all time leading score. The Nets are
Speaker 1: in a three way tied for the eighth, ninth, and
Speaker 1: tenth spots in the East. Save, who just fired its
Speaker 1: coach hired a new one for next year. Won the
Speaker 1: n I T one point whenever Texas, A and Emity
Speaker 1: guard The final four tomorrow in New Orleans starts with
Speaker 1: Kansas and Villanova. That it's North Carolina versus arch rival
Speaker 1: Duke Mike Schowski. Coach is a young they don't feel pressure,
Speaker 1: and I'm amazed that. Try to remember being that age,
Speaker 1: I would have felt pressure and nervous and maybe a
Speaker 1: little bit afraid. They're They're not they are they are not.
Speaker 1: I admire that. And of course coach K's career will
Speaker 1: end either tomorrow or if not tomorrow then definitely on
Speaker 1: Monday with John Stature Bloomberg Sports, Maybe what a career was?
Speaker 1: Thank you, John seven on Wall Street Time for the
Speaker 1: Tri State Business Report. Here's Bloomberg's head Cory. American Express,
Speaker 1: te Mobile, and nine other companies have agreed to provide
Speaker 1: data on gender and race to the New York City Comptroller.
Speaker 1: That caps off a two year campaign to get the
Speaker 1: information for the biggest companies the city invent stin, bringing
Speaker 1: the number of firms agreeing to make the data public
Speaker 1: to seventy eight. Manhattan's Roosevelt Hotel closed its stores in
Speaker 1: two thousand twenty. Its owner has lost a bid for
Speaker 1: a court order blocking New York City's new five hundred
Speaker 1: dollar weekly severance man date for hotel workers laid off
Speaker 1: during the pandemic. That's according to a federal court ruling
Speaker 1: issued Wednesday, New Jersey may actually be financially stronger than
Speaker 1: it was before the pandemic. S and P has raised
Speaker 1: its credit rating one notch to A minus, the seventh
Speaker 1: highest from triple B plus. Came after a boost March second.
Speaker 1: That was the state first upgrade since two thousand and five,
Speaker 1: following years of pension underfunding and public worker benefit increases.
Speaker 1: That your Bloomberg Dries Day Business Report. I'm in Corey.
Speaker 1: Thanks that it's on Wall Street. Bloomberg Radio is on
Speaker 1: the air from San Francisco to New York, London to
Speaker 1: Hong Kong. Let's check in with our global news team
Speaker 1: for some of the top stories heard on our three
Speaker 1: hundred affiliate radio stations around the world. I'm Steve Poto
Speaker 1: Stan on K and X in Los Angeles. We're talking
Speaker 1: about growing Senate pushback on Microsoft's plan takeover of Activision
Speaker 1: Blizzards um Corney Donahoe on ktr H in Houston. American
Speaker 1: shiel drillers say steel shortages are recent, They're not raising outfit.
Speaker 1: I'm Gina Servettian for w b B. I'm in Chicago.
Speaker 1: I'm reporting that First Women's Bank has new partnerships with
Speaker 1: United Airlines and Microsoft. I'm Caroline Hilled bloom BAGDAB Digital
Speaker 1: Way in London. Women putting on the overnight jumping energy
Speaker 1: prices in the UK that will push millions towards policy
Speaker 1: ad Cory on w w J in Detroit. I'm reporting
Speaker 1: Baines says chip shortage DOOD will begin to eat for
Speaker 1: the Autawa industry in the second half of the year.
Speaker 1: And those are some of the stories our twenty seven
Speaker 1: hundred Bloomberg journalists and analysts are working on this morning
Speaker 1: around the world. It's five thirty nine on Wall Street.
Speaker 1: The following is an editorial from Bloomberg Opinion. This senatorial
Speaker 1: was written by the Bloomberg Editorial Board. The Biden administration
Speaker 1: has once again hauled for higher taxes on affluent households
Speaker 1: to cover the cost of extra spending. Specifically, the administration's
Speaker 1: just released budget plan proposes a new minimum tax of
Speaker 1: twenty percent on the full income, including unrealized capital gains
Speaker 1: of taxpayers with wealth of more than one hundred million dollars.
Speaker 1: This is both radical and demanding. Complex rules will be
Speaker 1: needed to allow for the valuation of assets that can't
Speaker 1: easily be marked to market, and to let taxpayers settle
Speaker 1: their liabilities over time. In short, this proposal, like the
Speaker 1: budget as a whole, just isn't happening. That's not entirely
Speaker 1: surprising that the administration's continuing failure to wrestle with the
Speaker 1: implications of its spending ambitions remains disappointing. This editorial was
Speaker 1: written by the Bloomberg Editorial Board. For more Bloomberg opinion,
Speaker 1: please go to Bloomberg dot com, slash Opinion or ope
Speaker 1: I n go on the Bloomberg terminal. This has been
Speaker 1: Bloomberg opinion. You can hear Bloomberg opinion editorials every weekday
Speaker 1: at this time. Terminal customers can read more at O
Speaker 1: P I n go, SMP futures up twenty one point,
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Speaker 1: three oh weather. Showers will give way to partial sunshine
Speaker 1: at a high near sixty degrees, mid fifties, probably mostly Sunday. Tomorrow,
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Speaker 1: The Bloomberg Business Atland at Bloomberg quick tape. This is
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Speaker 1: European stocks in US DOT Index futures are on the
Speaker 1: rise this morning, investors evaluating economic outlook im in moderating
Speaker 1: oil prices, tightening federal reserve monetary policy, and Russia's war
Speaker 1: in Ukraine. And we checked the markets every fifteen minutes
Speaker 1: throughout the trading day on Bloomberg S and P futures
Speaker 1: have nineteen points now futures up a hundred forty nine
Speaker 1: Nasdack future is up sixty five. The decks in Germany
Speaker 1: up three tenths of up percent. Ten year treasury down
Speaker 1: fifteen thirty seconds. You have two point three nine percent
Speaker 1: yield on the two year two point three seven percent.
Speaker 1: NIMEX Screwed oil is up seven tenths per cent or
Speaker 1: sixty eight cents, and a hundred dollars ninety one cents
Speaker 1: a barrel comics goal down seven tenths percent or fourteen
Speaker 1: dollars thirty cents. At nineteen thirty nine, seventy announced the
Speaker 1: euro one point one zero four or seven against the dollar.
Speaker 1: British bound one point three, one two seven and agains
Speaker 1: in one twenty two point four to Bitcoin is lower
Speaker 1: down more than one and a half percent at forty
Speaker 1: five thousand, fifty dollars. That's of Bloomberg Business Flash. Now
Speaker 1: here's Michael Barr with more on what's going on around
Speaker 1: the world. Michael Darren, thank you very much. Talks between
Speaker 1: Ukraine and Russia will resumed today via video link following
Speaker 1: meetings earlier in the week. In Turkey email, Russia said
Speaker 1: to Ukrainian military helicopter has made a rare strike across
Speaker 1: the border, hitting an oil tank facility in the city
Speaker 1: of Belle Gordero. There was no immediate confirmation from Kiev.
Speaker 1: President Joe Biden said Russian leader Vladimir Putin may have
Speaker 1: fired some of his advisers, who put them under house arrest.
Speaker 1: Biden says it is an open question as to whether
Speaker 1: Putin is fully informed on his military's performance in Ukraine.
Speaker 1: In the NBA, the Nets lost, in the NHL, the
Speaker 1: Islanders won, the Bruins told the Devils where to go.
Speaker 1: With an eight one win, Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quicktake, powered by
Speaker 1: more than journalists analysts more than a hundred twenty countries.
Speaker 1: I'm Michael barn This is Bloomberg Nathan all right, Michael. Thanks,
Speaker 1: it's coming up to five forty nine on Wall Street
Speaker 1: Live from the Bloomberg Interactive Brokers Studios. This is Bloomberg
Speaker 1: Daybreak as we get ready for a second quarter kicking
Speaker 1: off with a key data release for investors and potentially
Speaker 1: the Fed. We await the March jobs reports, so let's
Speaker 1: get a preview now from Bloomberg Economics correspondent Michael McKee
Speaker 1: joining us from O Bloomberg Studios in Washington, d C. Mike,
Speaker 1: good morning, Thanks for being with us. The estimate on
Speaker 1: the terminal four nine thousand is the median from economists
Speaker 1: and three point seven percent for the unemployment rateomy jobs
Speaker 1: growth has been one of the bright spots for this
Speaker 1: red hot economy, and it looks like economists think it's
Speaker 1: gonna keep going. They do, and the Fed is hoping
Speaker 1: it keeps going. But what they would like to see
Speaker 1: his more people coming into the labor force looking for jobs,
Speaker 1: because at this point they're afraid, uh, the wages could
Speaker 1: get into some sort of inflationary spiral if people start
Speaker 1: to think that inflation is going to be with us
Speaker 1: for a long time, so they'll be watching the average
Speaker 1: hourly earnings of the participation rate closely. Today both are
Speaker 1: supposed to take up. The question is by how much
Speaker 1: Now we seeing any signs ahead of the release of
Speaker 1: people getting pulled back to the sidelines just by virtue
Speaker 1: of the fact that ages are going up. UH, we
Speaker 1: are seeing people In the last couple of months, we've
Speaker 1: seen significant advances in the number of people who are
Speaker 1: in the labor force. A lot of people, the theory went,
Speaker 1: we're staying home because they were afraid of getting COVID.
Speaker 1: Now the danger has gone down, it appears, and they
Speaker 1: were also living off the savings they got from the
Speaker 1: government stimulus programs and that has gone away. So a
Speaker 1: lot of people finding themselves in need of money and
Speaker 1: going back into work. What is the expectation about what
Speaker 1: we could see when it comes to UH increases in wages,
Speaker 1: given that we are starting to see a retail spending
Speaker 1: consumer spending start to lag a bit at least from
Speaker 1: what many Wall Street analysts have been expecting. Well, we
Speaker 1: just got wage data for the month of February, which
Speaker 1: one month behind this job's report, but the wage data
Speaker 1: showed that we saw wages rise eight tenths of a
Speaker 1: percent of very strong performs during the month of February.
Speaker 1: So the question is does that continue When I have
Speaker 1: talked to FED officials in recent weeks, they talked to
Speaker 1: c e o s in their district who are telling
Speaker 1: them that it is getting easier to find people, but
Speaker 1: they are still offering higher wages than they used to.
Speaker 1: The question is the second round, do they need to
Speaker 1: keep going higher in order to keep people with the
Speaker 1: quit rate that high. It is a possibility, and I
Speaker 1: guess there's a question as well about whether there's demand
Speaker 1: for I guess, uh, maybe I'm terming this the wrong
Speaker 1: way the right kinds of jobs, because it seems like
Speaker 1: there's been a lot of hiring lately in you know, transportation, manufacturing,
Speaker 1: the good side of the payrolls ledger and services have
Speaker 1: been lagging a bit. We have seen services come back
Speaker 1: in the last month or so. Particularly last month, we
Speaker 1: saw a hundred sixty one thousand people come back into
Speaker 1: the leisure and hospitality category, which is mostly restaurants and bars.
Speaker 1: Hotels are still trying to staff up, but we'll see
Speaker 1: if that continues that was that's one of the most
Speaker 1: customer facing jobs out there, And so if you are
Speaker 1: afraid of COVID, you don't necessarily want to go right
Speaker 1: back to work. But now as people have to, as
Speaker 1: the COVID danger goes down and people go back to restaurants,
Speaker 1: there so far being able to find people in the
Speaker 1: last month or so. I mean, that's got to be
Speaker 1: a big consideration for the FET. Isn't about whether we're
Speaker 1: really coming out of the pandemic recovery here? If we
Speaker 1: do start to see more employment coming on the services side.
Speaker 1: I mean, that's what a lot of FED watchers are
Speaker 1: looking for, isn't it. It is, and the FED is too.
Speaker 1: They would like to see strong growth. Their forecast, which
Speaker 1: most Well Street economists dismisses that they'll be able to
Speaker 1: raise interest rates over the next three years and unemployment
Speaker 1: won't change. Uh. The idea of raising interest rates is
Speaker 1: to raise unemployment a little bit. But as long as
Speaker 1: the labor market stays strong, then it's gonna be a
Speaker 1: question of what you have to pay people to keep
Speaker 1: it that way. If it can stay strong, that helps
Speaker 1: the economy avoid recession and helps create the soft landing scenario.
Speaker 1: The Fed looks for probably about thirty seconds left here, Mike,
Speaker 1: how big a deal is this report for the Fed?
Speaker 1: I mean, we've got one more before the next decision, right,
Speaker 1: Actually we don't. The the calendar works out there. Next
Speaker 1: FED decision after this is going to be two days
Speaker 1: after two days ahead of the job's report. So this
Speaker 1: is the last jobs report they'll see. They're more interested
Speaker 1: in the trend. They kind of told us what they're
Speaker 1: planning to do, all right, Mike McKee, are Bloomberg Economics
Speaker 1: correspondent with us ahead of the March payrolls report too
Speaker 1: out eight thirty am Wall Street Time. We will have
Speaker 1: as always, full coverage here on Bloomberg Radio. Karen Nathan,
Speaker 1: thank you. It is five three on Wall Straight time
Speaker 1: for the Bloomberg The Law Report. We get to the
Speaker 1: legal stories we are watching this morning from Bloomberg's Jeff Bellinger.
Speaker 1: A new law in Washington State makes rideshare drivers for
Speaker 1: companies like Uber and Left both for some benefits, but
Speaker 1: the workers will still not have employee status. In Maryland,
Speaker 1: a bill granting workers up to twelve weeks of paid
Speaker 1: time off every year for family or medical needs was
Speaker 1: passed by lawmakers and sent to the governor. A Texas
Speaker 1: appeals court ruled that Union Pacific Railroad must face a
Speaker 1: property damage and personal injury lawsuit over alleged exposure to
Speaker 1: a chemical released into a Houston neighborhood. Bloomberg Law everything
Speaker 1: you need, all on one legal research platform, including guidance
Speaker 1: analysis and Bloomberg market Intelligence. Find out more at Bloomberg
Speaker 1: Law dot com. All right, thanks Jeff. Now, another legal
Speaker 1: story we're watching brings us a Supreme Court where a
Speaker 1: pair of cases could test the expansion of a workplace arbitration.
Speaker 1: The decisions will have ripple effects on disputes involving Amazon,
Speaker 1: the gig economy, and the US Chamber of Commerce. At
Speaker 1: least nine lower federal court cases have been paused waiting
Speaker 1: for the decisions in these cases. For more, Bloomberg's June
Speaker 1: Grosso speaks to Emery Cellier, a professor at Loyola University,
Speaker 1: New Orleans College of Law. Tell me about the importance
Speaker 1: of this case together with another case that was heard
Speaker 1: this week, and the ripple effects of these cases. So
Speaker 1: there are sixty million arbitration agreements in the American workplace today,
Speaker 1: and this means that you have limited proceedual protections if
Speaker 1: you want to assert any claim involving your employment, and
Speaker 1: these tend to be confidential proceedings, and so arbitration in
Speaker 1: the past has been used to cover up a lot
Speaker 1: of widespread wrongdoing. We have to employment arbitration cases heard
Speaker 1: this term, and the Supreme Court is defining the contours
Speaker 1: of when is workplace arbitration appropriate. There are several cases
Speaker 1: that are being held awaiting a decision here. Yes, that's correct.
Speaker 1: The lower courts placed their decisions on hold, and so
Speaker 1: these employment cases can run their course. So the Federal
Speaker 1: Arbitration Act, it desembs transportation workers. They're not covered. They
Speaker 1: can't be forced to arbitrate under federal law. And so
Speaker 1: there are a lot of lower court cases that they
Speaker 1: put on hold involving arguable transportation workers to see how
Speaker 1: the Supreme Court rule in these cases. You know what
Speaker 1: will be the final say as to the scope of
Speaker 1: workplace arbitration. And this is a big deal with the
Speaker 1: big economy. You can argue that some truck drivers, that
Speaker 1: some delivery drivers, that they are considered transportation workers and
Speaker 1: so they should be exempt from arbitration agreements under the
Speaker 1: federal law. Would you say that usually at the Supreme Court,
Speaker 1: arbitration wins out. Yes, that has been the track record
Speaker 1: for the past forty or fifty years. However, in two
Speaker 1: thousand and nineteen there was one workers victory and a
Speaker 1: kiss called new Prime via Olivera, and I never expected
Speaker 1: to see that coming. And so there's a glimmer of
Speaker 1: hope for workers here. But the past track record is
Speaker 1: not really good for workers last forty or fifty years.
Speaker 1: And this Viking Rivers case here is just one of
Speaker 1: several cases this term involving arbitration. There are actually five
Speaker 1: total arbitration cases being heard, which is unusual. The Court
Speaker 1: has heard like one or two or three a year.
Speaker 1: And I believe the Board has an interest in promoting arbitration.
Speaker 1: Arbitrations like a safety valve for an overcrowded judicial docket.
Speaker 1: It's like every case to get since arbitrations one less
Speaker 1: case of courts have to hear it. I think the
Speaker 1: justices have an interest in trying to keep arbitration fine
Speaker 1: tuned and working well. That's Emery Sell, professor at Loyola University,
Speaker 1: New Orleans, College of Law, spiking at the Bloomberg Student
Speaker 1: Carrosso catch More of that interview plus analysis of the
Speaker 1: latest legal news by listening to the Bloomberg Law Show
Speaker 1: at ten pm Eastern Time. Are subscribing to the Bloomberg
Speaker 1: Law Podcast, and attorneys can find exceptional legal research and
Speaker 1: business development tools. Have Bloomberg Law, dot com and futures
Speaker 1: this morning or higher. SNP futures up about twenty three points,
Speaker 1: and our top stories are straight ahead on Bloomberg