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Speaker 1: Live from the Bloomberg interactave Berger Studios. This is Bloomberg

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Speaker 1: day Break for Thursday January. Coming up this hour, Tesla

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Speaker 1: shares rally after earnings top estimates. Chevron announces a big

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Speaker 1: stock buyback following record profits. We get a key reading

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Speaker 1: on fourth quarter economic growth. And Donald Trump is back

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Speaker 1: on Facebook. There's a legal tussle over Madison Square gardens

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Speaker 1: use of facial recognition technology, plus Russian missiles strike the

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Speaker 1: capitol of Ukraine. I'm Michael Blader. More ahead, I'm John

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Speaker 1: stash Our sports the Nets, Rangers, Islanders and St John's

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Speaker 1: all lost. They're playing the women's semifinals at the Australian Open.

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Speaker 1: That's All's Tradyhead on Bloomberg day Break on Bloomberg eleven three,

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Speaker 1: on New York, Bloomberg one, Washington, d C, Bloomberg one

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Speaker 1: oh six one Boston, Bloomberg nine sixties and Francisco Sirius

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Speaker 1: x M one nine team and around the world on

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Speaker 1: Bloomberg Radio dot Com and via The Bloomberg Business. Good morning.

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Speaker 1: I'm Nathan Hagar, and I'm kerin Moscow. Here are the

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Speaker 1: stories we're following today. The lift in nastac futures this

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Speaker 1: morning follows an earnings beat from Tesla. Those shares are

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Speaker 1: up nearly seven percent in early trading. Let's get the

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Speaker 1: latest live with Bloomberg. Steve Rappaford, Good morning, Stu, Good morning,

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Speaker 1: Nathan and Karen. Better numbers and a better forecast are

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Speaker 1: driving Testlas stock in pre market trading after the electric

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Speaker 1: automaker top fourth quarter expectations and said it's on track

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Speaker 1: to deliver about one point eight million vehicles this year,

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Speaker 1: representing a production boost of about thirty eight percent. If

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Speaker 1: the pre market gains, hold shares will rise more than

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Speaker 1: fifty percent from a January sixth low. As of yesterday's closed,

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Speaker 1: the stock is down six from its all time high.

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Speaker 1: Live in New York. I'm Steve Rappaport, Bloomberg Daybreak. All right, Steve,

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Speaker 1: thank you well. IBM is also out with earnings and

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Speaker 1: job cuts. Fourth quarter revenue was unchanged at sixteen point

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Speaker 1: seven billion dollars. IBM also said it will eliminate about

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Speaker 1: one and a half percent of its global workforce. That's

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Speaker 1: about thirty d jobs. We're also watching shares of Chevron

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Speaker 1: this morning, care and they're up two and a half

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Speaker 1: percent in early trading. The oil giant plans to buy

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Speaker 1: back seventy five billion dollars in shares after reaping record

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Speaker 1: profits last year. Bloomberg's Charlie Pellett has the story. The

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Speaker 1: stock repurchase program will kick in April one and will

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Speaker 1: be triple the size of the previous authorization unveiled in

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Speaker 1: early twenty nine. Chevron also will pay investors a dollar

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Speaker 1: fifty one to share dividend on March tenth. Big oil

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Speaker 1: rep record profits last year after Russia's invasion of Ukraine,

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Speaker 1: as oil, natural gas, and crude refining margins surged and

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Speaker 1: Western governments sought to isolate the Vladimir Putin regime. Chevron

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Speaker 1: reports fourth quarter results tomorrow in New York. Charlie Pellett

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Speaker 1: Bloomberg Daybreak, Great, Charlie, thank you well. Ernie's continued to

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Speaker 1: roll in, with more than two dozen companies in the

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Speaker 1: S and P five reporting today. Intel is one of

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Speaker 1: the bigger names on the list, and we get a

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Speaker 1: preview from Bloomberg's Jeff Bellinger. Analysts are not bullish about Intel,

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Speaker 1: given the weakness in demand from the personal computer and

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Speaker 1: data center markets and the fact that the company cut

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Speaker 1: its annual forecast twice in the second half of two

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Speaker 1: Bloomberg Intelligence, As the chip maker may report sequential declines

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Speaker 1: in both its client and data center segments. Investors may

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Speaker 1: pay more attention to Intel's twenty three guidance than the

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Speaker 1: numbers from the holiday quarter. They'll want to know, among

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Speaker 1: other things, whether cash flow will be strong enough to

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Speaker 1: maintain the quarterly dividend. Jeff Bellinger, Bloomberg Daybreak, Thanks Jeff.

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Speaker 1: Turning to the economy, now we get important data from

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Speaker 1: the US today. The government issues fourth quarter GDP, and

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Speaker 1: economists anticipate a respectable showing. Bloomberg's Any Dell Judais reports

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Speaker 1: the economist for forecasting the US economy expanded at two

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Speaker 1: point six percent pace in the closing months of last year,

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Speaker 1: boosted by household spending on services. Bloomberg Economics is any

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Speaker 1: Americans are benefiting from wage games and money stashed away

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Speaker 1: during the pandemic. Looking ahead, economist survey by Bloomberg anticipate

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Speaker 1: US economic growth will drop by point six percent this

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Speaker 1: quarter and by point three percent next quarter. Also on

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Speaker 1: today's US data Agenda, forecast call for decent numbers on

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Speaker 1: jobless claims and durable goods orders. But I drop in

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Speaker 1: new home sales. Finny Deal Judae Spoomberg day Break, Great, Pinny,

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Speaker 1: thank you. Well, as we await that reading on economic

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Speaker 1: growth forecast for a recession, remain front end center strategist

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Speaker 1: like bank you chat at Deutsche Bank are still predicting

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Speaker 1: a contraction. Very important aspect of the recession playbook. To

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Speaker 1: keep in mind if you're thinking about twelve months, is

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Speaker 1: that equity is you know, pretty robustly bottom about halfway through.

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Speaker 1: So if you have a two quarter recession, they will

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Speaker 1: come all the way back basically in Q four. And

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Speaker 1: so my Q on target is my year end target,

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Speaker 1: and that year on target from Deutsche Bank chief global

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Speaker 1: strategist bank E Schota is forty five hundred for the

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Speaker 1: SNP five. Well, Karen, we have new developments this morning

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Speaker 1: involving that computer glitch at the New York Stock Exchange.

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Speaker 1: Bloomberg News has learned the problem has been traced to

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Speaker 1: an employee who left a backup system running. That mistake

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Speaker 1: triggered wild market swings involving more than two fifty companies.

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Speaker 1: Thousands of trades were canceled, and the cost of the

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Speaker 1: issue has yet to be determined. Well now to the

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Speaker 1: intersection of technology and politics. Nathan, there's word that Meta

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Speaker 1: Platforms is going to end the suspension of former President

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Speaker 1: Donald Trump at Baxter has the story from our Bloomberg

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Speaker 1: nine Sis room in San Francisco. This ends two years

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Speaker 1: of being banned. Meta says from the beginning it was

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Speaker 1: for an undetermined amount of time, and that the public

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Speaker 1: should be able to hear what their politicians are saying,

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Speaker 1: the good, the bad, and the ugly, so they can

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Speaker 1: make informed choices at the ballot box. At the same time, now,

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Speaker 1: Meta says it has changed oversight rules that can cause

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Speaker 1: another suspension of violated with more severe penalties. Meta says

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Speaker 1: it will restore the accounts in the coming weeks. In

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Speaker 1: San Francisco, I'm at Baxter Bloomberg Daybreak. All right, thank you.

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Speaker 1: Turning overseas, we have a change at the top at Toyota,

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Speaker 1: the Japanese automakers promoting Lexus president Koji Sato to CEO.

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Speaker 1: Sato's job will be to guide the company through the

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Speaker 1: challenges of electrification and automation, and the hottest job in

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Speaker 1: the market right now, Nathan might not just be truck

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Speaker 1: drivers and nurses. Overseas, the biggest need for many companies

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Speaker 1: is for chief financial officers. According to the executive search

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Speaker 1: firm Spencer Steward, openings for CFOs are up nearly a

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Speaker 1: third compared to last year. Companies are asking for more

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Speaker 1: from their finance directors, with inflation and higher interest rates

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Speaker 1: signaling the end of easy money. Straight ahead, we have

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Speaker 1: your latest local headlines and this is Bloomberg. Thank you, Karen.

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Speaker 1: It is forty nine degrees in Central Park. We'll have

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Speaker 1: sunny breaks this afternoon. It's gonna be breezy and brisk,

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Speaker 1: partly cloudy tonight, heading down to the thirties. Time now

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Speaker 1: to take a look at some of the other stories

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Speaker 1: making news in New York and around the world with

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Speaker 1: Bloomberg S. Michael Bark, Good morning, Ancael, Good morning Nathan.

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Speaker 1: Ukraine faces what appears to be the eleventh major barrage

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Speaker 1: of Russian missile strikes since early October, aimed at energy,

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Speaker 1: infrastructure and other civilian targets. Explosions were heard in Kiev,

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Speaker 1: with at least one person reported killed in the capitol.

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Speaker 1: Strikes were also reported in Odessa and other regions. It

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Speaker 1: comes after President Biden announced yesterday and the US will

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Speaker 1: be sending more than thirty of its best tanks, the

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Speaker 1: M one A two Abrahms, to Ukraine. There's no offensive

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Speaker 1: threat to Russia and Prussia troops returned to Russia. They'll

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Speaker 1: be there wherever they belong. This war would be over today.

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Speaker 1: Germany also said yesterday it would send its Leopard two

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Speaker 1: tanks to Kiev. New York Mayor Eric Adams would deliver

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Speaker 1: his State of the City addressed today. Adams is expected

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Speaker 1: to talk about several issues, including the homeless situation and crime.

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Speaker 1: He will also discuss the economic situation of the city.

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Speaker 1: Adams will give his speech in Queen's at noon. New

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Speaker 1: York State Attorney General Letitia James is raising concerns about

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Speaker 1: Madison Square Garden using facial recognition technology to keep out

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Speaker 1: people who work for anybody suing the company. James also

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Speaker 1: questions whether the facial recognition software that MSG uses to

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Speaker 1: identify individuals is reliable, citing research that suggests the technology

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Speaker 1: may be biased against people of color and women. MSG

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Speaker 1: defends the band and opposes a bill introduced by New

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Speaker 1: York state lawmakers to prohibit sports venues some refusing entry

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Speaker 1: to perceive enemies of their owners. Investigators in Monterey Park, California,

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Speaker 1: are still trying to find a motive for Saturday's shooting

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Speaker 1: in a ball room that left eleven people dead. According

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Speaker 1: to Los Angeles County Sheriff Robert Luna, the suspected gunman

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Speaker 1: seventy two year old who Contron was not married, and

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Speaker 1: they have found no signs he was romantically connected to

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Speaker 1: any of the victims. Based on the interviews the investigators

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Speaker 1: are still conducting, uh, they have not been able to

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Speaker 1: establish a connection between the suspect and any of the

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Speaker 1: victims thus far, Sheriff Luna says Tron later killed himself

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Speaker 1: after the mass shooting. Global News twenty four hours a

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Speaker 1: day on a or and on Bloomberg Quick Tank, powered

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Speaker 1: by more than twenty seven hundred journalists analysts more than

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Speaker 1: a hundred twenty countries. I'm Michael Barren. This is Bloomberg, Nathan.

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Speaker 1: Thanks Michael. It's time for a Bloomberg Sports update, brought

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Speaker 1: to you by Trice stayed out here with John stash Our.

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Speaker 1: Thanks Nathan, Nets and sixers. About a year after they

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Speaker 1: swung that big James Harden for Ben Simmons trade, hardened

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Speaker 1: some Herobic standard stretcher in Philadelphia Want a high scoring

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Speaker 1: affair one thirty seven, one thirty three. This game was

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Speaker 1: tied at forty one after the first quarter. Seth Curry

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Speaker 1: was also in that trade. Day led Brooklyn with thirty

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Speaker 1: two points. The Nets for two and five without Kevin

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Speaker 1: Durant Neicks. Tonight visit the league leading Celtics Rangers in

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Speaker 1: Toronto had a lead with five minutes left, but the

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Speaker 1: game went to overtime. Who's decided earlier comes on and

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Speaker 1: comes in front of that star, dresses to Rangers, cuts

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Speaker 1: across the gold Cres head up wait Sister come to

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Speaker 1: win the game eighteen seconds into overtime and three two

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Speaker 1: leaves Philippino both the Ranger Girls. Islanders struggling to score

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Speaker 1: just eighteen goals in their last eleven games, and ten

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Speaker 1: of those were losses. They fell to one at Ottawa. St.

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Speaker 1: John's went to omahaal at crateon score fifty two points

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Speaker 1: in both halves. Red Storm got trounced one oh four

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Speaker 1: seventy six four to one at St. Bonaventure. The Rams

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Speaker 1: are sixteen and four. The Giant Brian Brian Dable named

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Speaker 1: a finalist to win Coach of the Year. Set Juan

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Speaker 1: Barkley of finalists for the Comeback Player, and two Jets

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Speaker 1: could win the Rookie Awards. Garrett Wilson on offense, Sauce

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Speaker 1: Gardner on defense, Women's semifinals at the Australian Open, and

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Speaker 1: Elena Arrivaquina has won the first set from Victoria Azararenka.

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Speaker 1: They'll be followed by Arena Sablanca versus Is magdal Lenette,

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Speaker 1: who was unstated. She's already beaten five senior players. John

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Speaker 1: stash Allen Bloomberg Sports live from coast to coast, from

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Speaker 1: New York to San Francisco, Boston to Washington, d C.

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Speaker 1: Nationwide on Sirius XAMP, the Bloomberg Business app, and Bloomberg

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Speaker 1: dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hagar.

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Speaker 1: As we continue to watch shares of Tesla this morning.

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Speaker 1: They're up more than seven percent after profits came in

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Speaker 1: better than expected in the latest quarter for the electric

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Speaker 1: vehicle maker. But Elon Musk's company is sending some mixed

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Speaker 1: signals about future delivery. So let's get into these numbers now.

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Speaker 1: We're joined by Bloomberg News Automotive editor Stefan Nicholas Stefan

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Speaker 1: good morning, Thanks so much for being with us. UH.

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Speaker 1: The company says it is on track to deliver about

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Speaker 1: one point eight million vehicles this year, but it's talking

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Speaker 1: about getting back to its long term target as soon

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Speaker 1: as possible. That's like fifty percent is the number they

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Speaker 1: keep talking about for annual growth over multiple years. One

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Speaker 1: point eight million v equals isn't quite there, right, Yeah,

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Speaker 1: that's correct, Good morning, that's correct. One point eight million

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Speaker 1: cars isn't quite there. Um, it's just over thirty percent.

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Speaker 1: And that's still though a decent increases, especially given the

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Speaker 1: UH concerns about demand. Late last year, um Tesla lowered

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Speaker 1: prices for its cause in several of its markets and

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Speaker 1: and that will will help demand. Also, Elon Musk said

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Speaker 1: during the call that in January demand was at twice

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Speaker 1: the rate of production, so that that's some some good

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Speaker 1: news for demand. UM. But yeah, the target is still

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Speaker 1: a bit elusive. Well, how realistic, Stefan, is that production

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Speaker 1: or that demand expectation for Elon Musk, given that over

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Speaker 1: the last few months he's been talking about the idea

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Speaker 1: that recession is pretty much inevitable. Yeah, so and he mentioned,

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Speaker 1: you know, some of those concerns during the call as

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Speaker 1: well high interest rates, a potential recession um and relation

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Speaker 1: in parts of the world. Um. He also said that

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Speaker 1: you know, technically they could deliver two million cars. That's

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Speaker 1: not their their goal, but it's it's a technical possibility.

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Speaker 1: I think a lot of things will have to happen. Um.

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Speaker 1: You know, production will have to be ramped up at

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Speaker 1: several of Tesla's key factories across the world. Um, we

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Speaker 1: can't see another components shortage crisis like the semiconductor crunch

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Speaker 1: that we saw last year. And you know, it also

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Speaker 1: depends a bit on how Tesla's brand will develop this year,

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Speaker 1: especially given Elon Musk's um mixed track records, especially when

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Speaker 1: it comes to buying Twitter and his handling off the

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Speaker 1: social media company. Yeah, certainly that does seem to be

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Speaker 1: a pretty significant headwind for a lot of investors. With

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Speaker 1: the focus on Twitter right now, What is the expectation

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Speaker 1: that Elon Musk will be able to sort of triangulate

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Speaker 1: his attention with Test and Twitter. So, I mean, Ellen

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Speaker 1: is you know, known for not needing a lot of sleep. However,

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Speaker 1: the past months, you know, he has he has seemed

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Speaker 1: a bit distracted and uh, um, while he on the

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Speaker 1: call was quite bullish about Twitter, saying that you know,

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Speaker 1: it's a great it's a great platform for the for

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Speaker 1: his brand, and and you know he touted his twenties

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Speaker 1: something follow million followers on Twitter. Um, you know, there

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Speaker 1: there still is concerned that too much of his time

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Speaker 1: goes into fixing the platform. And two little time is

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Speaker 1: is being invested in overhauling Tesla's product lineup, which is

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Speaker 1: lacking in some respects. Um, the cybertruck is going to

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Speaker 1: start production this year, but volume production won't won't happen

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Speaker 1: until four Let's see what the semi big rig does

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Speaker 1: this year. So lots of question marks on the Tesla

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Speaker 1: site that he needs to get around to fixing. Now

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Speaker 1: I means, did you mentioned cybertruck, stefan, I mean, this

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Speaker 1: is a product that Elon Musk has promised year after

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Speaker 1: year after year, and the target to introduce it keeps

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Speaker 1: getting pushed back. I mean, what's the likelihood that the

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Speaker 1: cybertruck actually does get delivered next year? So? Um? Hell

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Speaker 1: so he did say that, you know, the the cyber

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Speaker 1: truck will start production sometimes this summer. Um, that that's

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Speaker 1: obviously produced in Austin. Um, but that that's you know,

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Speaker 1: it's not clear how many units that factor will make

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Speaker 1: this year, but volume production won't happen until four UM.

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Speaker 1: I would suspect that's more to it the later later

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Speaker 1: half of that of that year. UM. On the semi

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Speaker 1: you know, Tesla plans to invest in a Nevada facility

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Speaker 1: to scale up production. But yeah, you you've rightly mentioned

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Speaker 1: the cybertruck a sort of the big thing next thing.

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Speaker 1: You know, some people are very excited about that model

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Speaker 1: at the same time, and Tesla is on the pressure

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Speaker 1: to deliver on the ind of in the pickup market.

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Speaker 1: Forts F one, fifty Lightning and the Ribbian models as

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Speaker 1: well as the GM Silverado that's coming later this year,

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Speaker 1: have some somewhat of a hit start. So yeah, it's

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Speaker 1: under pressure to to get you a big part of

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Speaker 1: that very lucrative pickup market. This is Bloomberg Daybreak Today,

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