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Speaker 1: Live from the Bloomberg Interactive Burgers Studios is his Bloomberg

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Speaker 1: day Break for Monday, May second two. Coming up this hour.

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Speaker 1: US stocks begin the new trading months, coming off the

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Speaker 1: worst April in more than fifty years. Investors brace for

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Speaker 1: this week's FED decision. Warren Buffett goes on a bind

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Speaker 1: spree in the first quarter, and Nancy Pelosi makes a

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Speaker 1: surprise visit to Ukraine. A new crime fighting strategy begins

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Speaker 1: today in New York City. Plus senators are calling on

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Speaker 1: President by the by disruptions of the solar industry. Michael

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Speaker 1: blarn More and I'm John Stashower and sports ninth straight

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Speaker 1: win for the Yankees, but Mets one another series, NBA

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Speaker 1: playoff road winds from Milwaukee and Golden State. That's all

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Speaker 1: training ahead on Bloomberg Daybreak on Bloomberg. He liveing free

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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 nineteen and around the world Old on

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Speaker 1: Bloomberg Radio dot Com and via the Bloomberg Business App.

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Speaker 1: Good Morning, I'm Nathan Hagar and I'm Karen Moscow u

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Speaker 1: shtock in NIX futures are on the rise this morning.

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Speaker 1: We're coming up to six o one on Wall Street,

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Speaker 1: and we checked the markets every fifteen minutes throughout the

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Speaker 1: trading day on Bloomberg SMP futures of seventeen points, DALN

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Speaker 1: futures of one hundred fifty one, and Nownesday Teachers up

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Speaker 1: sixty ten, Your treasury up three thirty seconds, the l

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Speaker 1: two point nine two percent yield on the two year

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Speaker 1: two point seven percent, and nine next screwed oil is

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Speaker 1: down three percent at a hundred one dollars fifty cents

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Speaker 1: of Daryl Nathan Karen Investors begin the month of May

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Speaker 1: after a historically bad April. The SNP five hundred fell

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Speaker 1: eight point eight percent for the worst April performance since

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Speaker 1: nine seventy and tech investors haven't taken a beating like

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Speaker 1: this in nearly fourteen years. The Nasdaq one hundred plunge

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Speaker 1: more than thirteen percent in April, its worst performance since

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Speaker 1: October two thousand date. Katie Nixon, his chief investment officer

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Speaker 1: at Northern Trust, I mean, I think valuation is very

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Speaker 1: fragile in this rising rate environment here and then at

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Speaker 1: the shame time. You've got some fundamentals that you know,

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Speaker 1: at best are sort of flattening out and at worst

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Speaker 1: are showing some declining trends. In net such is sort

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Speaker 1: of the poster child joined now by Amazon, that's really

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Speaker 1: showing a weakening of demand. Northern Trust Chief investment Officer

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Speaker 1: Katie Nixon notes the SMP five and the NASTAC one

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Speaker 1: d of each fallen for four consecutive weeks. Well, Nathan

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Speaker 1: Vallens have also been taking a pounding this year, and

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Speaker 1: one of the biggest investors outside America things there may

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Speaker 1: be more pain ahead. We get the latest live with Bloomberries,

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Speaker 1: John Tucker, John Gobardan Karen Typically investors can take refuge

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Speaker 1: in bonds, especially US treasuries, and for years they've been

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Speaker 1: supported by Japanese buyers, but that's no longer the case.

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Speaker 1: Japanese institutional managers are now fielding a great bond sell off.

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Speaker 1: The largest overseas holder of treasuries has offloaded almost sixty

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Speaker 1: billion dollars over the past three months. That's according to

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Speaker 1: data from BEMO Capital Markets. There are several reasons market volatility,

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Speaker 1: divergent monetary policy, and a weaker again and Japanese investors

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Speaker 1: may wait for higher and higher rates before ever jumping

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Speaker 1: back in lie to New York. I'm John Tucker, Bloomberg, debreak.

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Speaker 1: All right, John, thank you. Of course, both bond and

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Speaker 1: equity investors will be paying close attention to this week's

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Speaker 1: policy decision from the Fed. It is one of the

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Speaker 1: most anticipated in years, and we get a preview from

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Speaker 1: Bloomberg's Michael McKay. The government reported Friday that employment costs

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Speaker 1: rose the most since nine seven in the first quarter,

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Speaker 1: while the Fed's favorite inflation gauge rose to the highest

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Speaker 1: since nine two. And let's say that more than seals

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Speaker 1: a fifty basis point rate increase from the Fed on Wednesday.

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Speaker 1: It raises the question of whether the FED needs to

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Speaker 1: keep raising by fifty or even seventy five going forward.

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Speaker 1: They won't say, but Chairman j Pale will be asked

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Speaker 1: about it at his news conference. The Fed will also

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Speaker 1: be detailing how and when it will start reducing the

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Speaker 1: balance sheet and trying to reassure Americans inflation is their

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Speaker 1: top priority. Michael McKie Bloomberg Daybreak, All right, Mike, thank you.

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Speaker 1: Of course, we'll have full coverage and analysis of Wednesday,

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Speaker 1: said decision, beginning at one pm Wall Street time that

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Speaker 1: day on both Bloomberg Radio and television. Well, Nathan, it's

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Speaker 1: also another busy week for earnings, with more than one

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Speaker 1: hundred sixty companies in the S and P five hundred reporting.

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Speaker 1: We get a preview from bloombergs Shirley Pellett. Big technology

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Speaker 1: firms and banks are behind us, but we'll be hearing

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Speaker 1: from a broad swath of companies as investors assess the

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Speaker 1: ongoing themes of inflation, consumer demand, and geopolitics. Sarah Malick

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Speaker 1: is chief investment officer at Nouvene Earnest looked strong free

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Speaker 1: quarters of companies are beating Arnies double digit revenue growth

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Speaker 1: overall and about five or six percent. Arnis Among some

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Speaker 1: of the names reporting this week Airbnb, A, I, G,

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Speaker 1: A M D, Conico, Phillips, Ubert Lifts, Starbucks, young brands

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Speaker 1: and travel names Expedia, Hilton, and Marriott. In New York,

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Speaker 1: Charlie pet Bloomberg day break. All right, Charlie, thanks so.

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Speaker 1: One company that already reported over the weekend was Berkshire Hathaway.

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Speaker 1: The Warren Buffett conglomerates squeaked out a profit gain, but

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Speaker 1: perhaps more importantly, the billionaire went on a buying spree

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Speaker 1: in the first quarter. Let's get the lightest on that.

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Speaker 1: Live from Bloombergshire, Nity Young, Good morning, Grena, good morning.

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Speaker 1: Nathan Warren Buffett made forty one billion dollars in net

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Speaker 1: stock purchases during the first quarter. It was his biggest

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Speaker 1: buying spree in at least a decade, and a war

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Speaker 1: and soaring US inflation did not deter him from doubling

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Speaker 1: down on a tried and trusted strategy to navigate the

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Speaker 1: fallout among the purchases. Berkshire raises its Chevron holdings, Buffett

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Speaker 1: discloses that the company now owns an expanded nine point

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Speaker 1: five percent stake in Activision Blizzard, and at the annual

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Speaker 1: shareholders meeting, the one year old Buffett had his business partner,

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Speaker 1: year old Charlie Munger, gave no indication that they planned

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Speaker 1: to step back from their roles anytime soon. Live in

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Speaker 1: New York. I'm Renita Young, bloom birth day break All right,

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Speaker 1: Granny to thank you. Now, let's get to the latest

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Speaker 1: on the war in Ukraine. After weeks of Russian bombardment,

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Speaker 1: civilians are starting to leave a besieged steel plant in

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Speaker 1: Marya Pole. President Zelenski says about a hundred men, women

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Speaker 1: and children will arrive in Ukrainian control of territory this morning.

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Speaker 1: And how Speaker Nancy Pelosi met with Poland's president today

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Speaker 1: after surprise was to keep to get that story from Bloomberg,

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Speaker 1: said Baxter. This was a well kept secret. Pelosi leading

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Speaker 1: a congressional delegation pledging continued support and says continued usaid.

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Speaker 1: Pelosi then traveled back to Poland in San Francisco. I'm

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Speaker 1: at Baxter Bloomberg daybreak, All right, and thank you. Let's

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Speaker 1: turn to the pandemic now, where our focus remains in China.

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Speaker 1: Coronavirus lockdowns in the country, you're taking a significant toll

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Speaker 1: on the economy over the weekend. Data showed both manufacturing

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Speaker 1: and services activity plunged in April to their worst levels

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Speaker 1: in more than two years. And in Australia, Nathan Quantas

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Speaker 1: has revived a plan for the world's longest NonStop flights.

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Speaker 1: They would connect Australia's East coast with the New York

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Speaker 1: and London. The airline says it's buying twelve Airbus jets

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Speaker 1: that can make the twenty hour journeys. Plantas will begin

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Speaker 1: the service from Sydney and and again. Future is on

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Speaker 1: the rise this morning, straight ahead your latest local headlines,

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Speaker 1: plus a check of sports. And this is Bloomberg all right, Karen,

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Speaker 1: Thanks Sixcess seven on Wall Street, fifty three degrees in

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Speaker 1: Central Park. Both fans on the wheel this morning. We've

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Speaker 1: got some nasty thunderstorms all through traffic. Coming up first,

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Speaker 1: Michael bar with more on what's going on in New

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Speaker 1: York and around the world. Good morning, Michael, Good morning Nathan.

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Speaker 1: A new crime fighting initiative begins today in New York City.

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Speaker 1: Mayor Eric Adams says and the forty most violent precincts

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Speaker 1: authorities will move neighborhood coordinating officers into evening patrols. Other

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Speaker 1: plans include sending field intelligence officers to the street. Overall

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Speaker 1: crime is up thirty last month compared to April of

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Speaker 1: last year. Gun violence it's also on the rise. May

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Speaker 1: Adams also says they will find people who cheat on

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Speaker 1: paying subway fares in the city. Broadway theaters are ending

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Speaker 1: the policy of requiring customers to show proof of vaccination.

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Speaker 1: The Broadway League says in a statement that the owners

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Speaker 1: and operators of all forty one Broadway theaters are extending

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Speaker 1: the mask requirement at least through the end of May,

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Speaker 1: but many will no longer check for vaccination status. President

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Speaker 1: Biden spoke in Minneapolis at a memorial service for former

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Speaker 1: President Walter Vice President Walter Mondale. Mondale died in April

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Speaker 1: of last year at age nine. President Biden said he

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Speaker 1: and Mondale, who was known as Fritz for close friends.

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Speaker 1: I'm I moved to be with you here today as

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Speaker 1: an honor one of the great giants in American history.

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Speaker 1: And that's not hyperbole. Fritz was a giant in American

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Speaker 1: political history. President Biden described Mondale as a dedicated patriot

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Speaker 1: and public servant. The judge joined the Country Music Hall

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Speaker 1: of Fame last night, just to day after Naomi Judd

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Speaker 1: died unexpectedly. Naomi's daughter is Winona and Ashley Judd accepted

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Speaker 1: the honor. Wenona Judd, this is the first time I've

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Speaker 1: talked since saying goodbye to twenty A kiss draw on

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Speaker 1: the forehead, and I walked away, and this is the

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Speaker 1: first place I've been. Wenona and Ashley Judd said their

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Speaker 1: mother died at the age of seventy six due to

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Speaker 1: the disease of mental illness. Nearly two dozen senators today

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Speaker 1: called on President Joe Biden to swiftly advance a trade

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Speaker 1: probe that they said was already causing massive disruption in

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Speaker 1: the U S. Solar industry. According to the letter from

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Speaker 1: twenty two senators, the investigation into whether Chinese companies are

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Speaker 1: circumventing decades old tariffs by assembling solar cells modules in

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Speaker 1: Southeast Asia will severely harm American businesses and workers. Global

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Speaker 1: News twenty four hours a day on here and on

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

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Speaker 1: analysts more than a hundred twenty countries. Hi, Michael Barn,

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Speaker 1: this is Bloomberg, Nathan, Michael. Thanks coming up to the

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Speaker 1: six ten on All Street. Time for the Bloomberg Sports Day.

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Speaker 1: Here's John Stenshower. All right, Nathan. The Mets weekend, of course,

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Speaker 1: began with the no hitter. It ended last night with

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Speaker 1: Max Schers. We're giving up three home runs, but the

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Speaker 1: Mets bats produced fifteen hits and attend to six win

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Speaker 1: over the Phillies at City Field. Jeff McNeil had four

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Speaker 1: of those hits, raising his average to three sixty one.

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Speaker 1: Don Smith had four hits. He drove in three runs,

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Speaker 1: so did Sterling Marte. The Mets have now played seven series.

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Speaker 1: They have not had a sweep, but they've won all seven.

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Speaker 1: The Yankees have had three straight series sweeps, nine wins

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Speaker 1: in a row. In Kansas City, they trailed four to one,

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Speaker 1: took the lead in the seventh innings going two runs

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Speaker 1: without a hit, and they won six to four. Aaron

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Speaker 1: Judge homerd with one out in the first inning. He

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Speaker 1: hit another with two outs of the night. Judge had

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Speaker 1: no homers in his first thirteen games. He's hit seven

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Speaker 1: in his last eight games, and the Yanks take this

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Speaker 1: nine game win streak into tonight's game in Toronto. NBA

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Speaker 1: playoffs started Round two Milwaukee one in Boston one oh

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Speaker 1: one to eighty nine. Your Honest son to the Compo

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Speaker 1: had a triple double. Golden State in Memphis lost Draymond

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Speaker 1: Green in the second quarter. He was ejected for a flagrant.

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Speaker 1: Fouley held a one point lead at the end. They

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Speaker 1: will throw it in fine eight Clark Clark bounce pass

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Speaker 1: over to Moran, He'll drive in. Scooper's up. No good

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Speaker 1: rebount Wig ups. The Warriors win the Larwriors win, Memphis

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Speaker 1: stop the look they wanted and more couldn't finish it

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Speaker 1: had told him State capture State one with Trebond grade

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Speaker 1: in the locker road. The game had the call. Two

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Speaker 1: more series openers tonight. It's also opening night of the

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Speaker 1: Stanley Cup Playoffs, with a quartet of games, including the

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Speaker 1: Bruins at Carolina the Hurricanes one of the three regular

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Speaker 1: season meetings by a combined score of sixteen to one.

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Speaker 1: Rangers in the Penguins Game one at the Garden tomorrow,

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Speaker 1: John stash Ellardtenberg sports Nathan, thank you, John SMP. Futures

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Speaker 1: now up eighteen points down, Futures up a hundred fifty

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Speaker 1: five dance stack, futures up sixty seven points after the

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Speaker 1: kind of April we haven't seen for stocks in half

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Speaker 1: a century. Look at these markets next with Bloomberg's Danni Burger.

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Speaker 1: This is a Bloomberg Business lash and I'm Cameron Moscow

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Speaker 1: and you must on. Index futures are rebounding from Friday's

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Speaker 1: bruising sell off, which was Wall Street's worst day in

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Speaker 1: almost two years outside of the US. Doctor declining is

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Speaker 1: disappointing economic data from China and the prospect of sanctions

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Speaker 1: on Russian oil wag heavily on risk appetite. We checked

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Speaker 1: the markets every fifteen minutes throughout the trading day. On

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Speaker 1: Bloomberg SNP Future is up twenty boys down eaters of

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Speaker 1: one hundred seventy one and nowsday futures up seventy two.

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Speaker 1: The decks in Germany's down six tenths of a percent.

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Speaker 1: Ten year treasury of three thirty seconds yield two point

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Speaker 1: nine two percent. That yield on the two year two

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Speaker 1: point seven percent. Nine mack screwed oil is down three

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Speaker 1: point one percent on three dollars twenty seven cents at

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Speaker 1: a hundred one dollars forty two cents a barrel. Comics

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Speaker 1: called on one point seven percent on thirty three dollars

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Speaker 1: at eighteen seventy eight fifty an ounce, the Euro one

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Speaker 1: point oh five to four against the dollar, British pound

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Speaker 1: one point to five seven seven, the yen at one

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Speaker 1: twenty nine point nine four, and Bitcoin higher up more

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Speaker 1: than one percent at thirty eight thousand, seven hundred sixty dollars.

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Speaker 1: That's at Bloomberg Business Flash. Now here's Michael Barr with

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

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Speaker 1: you very much. Karen. The evacuation has begun for civilians

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Speaker 1: hold up at a steel plan in the Ukrainian city

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Speaker 1: of mary Upol after nearly two months under siege by

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Speaker 1: Russian forces. Local officials at people sheltering elsewhere in the

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Speaker 1: city would also be allowed out. Today. In a surprise

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Speaker 1: visit to Ukraine, speaker Nancy Pelosi promised continuing support. Today,

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Speaker 1: Pelosi met with Poland's president. In the NBA playoffs, the

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Speaker 1: Celtics lost to the box wh one eighty nine, and

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Speaker 1: the opening game of their series, the Warriors beat the

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Speaker 1: Grizzlies one seventeen, one sixteen in their Game one. In baseball,

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Speaker 1: the Yankees and Mets one, the Orioles beat the Red

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Speaker 1: Sox nine five, The Nationals beat the Giants eleven five,

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Speaker 1: The A's Lost Global news twenty four hours a day

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Speaker 1: on air end on Bloomberg Quick Take, powered by more

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Speaker 1: than hundred journalists and analysts in more than a hundred

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Speaker 1: twenty countries. I'm Michael Barr. This is Bloomberg Nathan Alright, Michael.

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Speaker 1: Thanks at six nineteen on Wall Street Live from the

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Speaker 1: Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak as we

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Speaker 1: get ready to kick off the trading month of May.

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Speaker 1: We are joined now by Bloomberg TV anchor and markets

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Speaker 1: correspondent Danny Burger. Danny, good to have you with us

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Speaker 1: this morning, and I'm sure a lot of investors are

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Speaker 1: feeling at least a little bit good they can finally

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Speaker 1: close the books on one of the cruelest A brawls

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Speaker 1: the markets seen in its history. Really yeah, I mean

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Speaker 1: closed the books on it. But I guess the big

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Speaker 1: question is is there more to come? I mean, it

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Speaker 1: was a really painful month from the staff of their

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Speaker 1: worst month for the NASDAC since two thousand eight. Even

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Speaker 1: even just Friday added insult to injury. It was the

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Speaker 1: worst single day dropped for the S and P since. So, yes,

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Speaker 1: there has been a lot of pain in this market,

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Speaker 1: but the forces that caused it be at the FED,

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Speaker 1: war in Ukraine, issues with China's economy, those are going away,

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Speaker 1: right and we're still seeing a VIX that's above thirty

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Speaker 1: right at thirty three right now, pointing to potentially more

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Speaker 1: volatility and more selling going on still in the European

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Speaker 1: market exactly. Yeah, Europe looking pretty ugly today as well.

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Speaker 1: I think the volatility story is an interesting one because

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Speaker 1: it's not just bond market volatiky anymore. There was a

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Speaker 1: long period of time this year where we said, Okay,

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Speaker 1: the Fed is getting aggressive, they're going to raise interest rates,

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Speaker 1: and it was really concentrated in bond equity is FX. Yes,

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Speaker 1: they were having spasms, but compared to the bond market,

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Speaker 1: they were pretty immune. Now you look at what's happened

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Speaker 1: in April, stocks have started to act up, and crucially,

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Speaker 1: the fex complex has started to act up, the dollar

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Speaker 1: strengthening dramatically, it's best months in ten years, with the

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Speaker 1: yen in the euro getting pummeled as well. When you

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Speaker 1: look at these big cross asset moves, that's when you

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Speaker 1: start to ask, is this the kind of thing that

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Speaker 1: breaks something doesn't lead again? This question is more turmoil,

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Speaker 1: right and when we think about the FED beginning it's

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Speaker 1: decision making process on Wednesday, with that first decision where

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Speaker 1: they're all but spelling out that there's going to be

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Speaker 1: a fifty basis point move, I guess the question for

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Speaker 1: investors is is there further to fall as the punch

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Speaker 1: bowl gets removed even more? I mean, investors at the

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Speaker 1: moment are pricing about a two and a half percent

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Speaker 1: on FED rates by the end of the year, So

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Speaker 1: that does imply that things are is going to continue

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Speaker 1: to be aggressive from here. It is interesting though, because

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Speaker 1: of the stock market sell off we've seen because of

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Speaker 1: the dollar strength, financial conditions are very tight at the

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Speaker 1: moment um save for the pandemic. They are the Titus

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Speaker 1: eighteen when the said before had to pause its tightening

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Speaker 1: path because of what happened to markets because of that

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Speaker 1: said put so, the markets have I've already done some

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Speaker 1: of the work from the said I will be interested

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Speaker 1: to see if that continues. If the said doesn't have

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Speaker 1: to hike as much as being implied right now um

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Speaker 1: or you know, perhaps they'll ignore it. And just say, hey,

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Speaker 1: we got a tame inflation. It's enemy number one. The

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Speaker 1: put does not exist. If we do see a more

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Speaker 1: aggressive FED, or even before those moves begin to take place,

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Speaker 1: at least in the short term, does the focus turn

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Speaker 1: more to fundamentals the earnings picture for these companies. Well, look,

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Speaker 1: it's often said it's it's a stock pickers market, and

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Speaker 1: it's usually not true. You usually can't just buy the

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Speaker 1: index and be okay um. But in this type of environment,

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Speaker 1: we have seen a lot of hedge funds able to outperform,

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Speaker 1: a lot of stock pickers that perform. That doesn't mean

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Speaker 1: it's easy, but it does mean that when there is

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Speaker 1: this intense selling, often the baby gets down out with

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Speaker 1: the bathwater, and opportunities do emerge. Opportunity to do that

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Speaker 1: really fundamental analysis work becomes important. Of course, it doesn't

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Speaker 1: always pay off. You see companies that report pretty solid

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Speaker 1: earnings and still get beat up. Investors are are are

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Speaker 1: putting a lot of scrutiny on this earning season. But

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Speaker 1: it is a moment where there are divergences between stocks

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Speaker 1: and opportunities, and our last thirty seconds are so here.

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Speaker 1: Danny from the market participants that you're speaking to. Where

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Speaker 1: is their sentiment lying in terms of sector moves? Is

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Speaker 1: there still some hope for tech or are we moving

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Speaker 1: into more defensive Oh, I might have bad news for

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Speaker 1: you there. I've heard a lot of barishness about tech,

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Speaker 1: and you can just look at what's happened to Amazon

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Speaker 1: getting absolutely whacked last week. One sector really popular seems

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Speaker 1: right now is commodities. Go for it for your inflationary edge.

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Speaker 1: About if all else is failing, you know, at least

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Speaker 1: some of these supply chain issues, some of the you know,

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Speaker 1: unfortunate geopolitical events do lead to a higher commodities complex. Alright,

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Speaker 1: great to have you on with us, Dandy, Thanks for this.

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Speaker 1: Danny Berger, Bloomberg Television anchor Markets corresponded for Bloomberg News

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Speaker 1: with Us this morning. As we get set for May,

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Speaker 1: the trading month after a very tough April for stocks,

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Speaker 1: looking ahead to this morning's market open, maybe some evidence

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Speaker 1: of dip buying, with SMP futures up nineteen points, Staff

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Speaker 1: futures up a hundred sixty three, Nasdaq futures higher by

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Speaker 1: seventy points. Sell off continues in Europe, with the docks

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Speaker 1: down six tenths percent. The cat in Paris lower by

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Speaker 1: one point three percent. The footstee in London has a

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Speaker 1: bank holiday off ten. Your treasury is up three thirty seconds,

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Speaker 1: the yield two point nine two percent. Just ahead Warren

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Speaker 1: Buffett's buying spree, and Nancy Pelosi goes to Kiev. Five

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Speaker 1: things you need to notice start your day. Coming up

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Speaker 1: on Bloomberg day Break Bloomberg eleven three oh weather. The

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Speaker 1: rain's gonna end early. It'll turn cloudy today with a

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Speaker 1: high in near sixty, clouds mid sixties Tomorrow. Showers return

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Speaker 1: Wednesday with a high near sixty. Right now fifty three

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Speaker 1: degrees in Central Park. Broadcasting live from the Bloomberg Interactive

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Speaker 1: Broker Studio in New York, Bloomberg Living Free 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 N sixty to the Country, Sirius

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Speaker 1: XM to the one nine team, and around the globe

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Speaker 1: the Bloomberg Business apt and Bloomberg Radio dot Com. This

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Speaker 1: is Bloomberg Daybreak six thirty on Wall Street. Good morning,

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Speaker 1: I'm Nathan Hager and I'm Ferard Moscow. We're 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 know to start

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Speaker 1: your day. Broncho you ba I, interact your broker, Simple

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00:21:01,600 --> 00:21:05,240
Speaker 1: ibk our Global Trader app depositing your local currency and

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Speaker 1: trade stocks in the US, Europe and Asia. Start your

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Speaker 1: free trio at ibkr dot com, Slash Global Trader. First

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Speaker 1: Traders enter May after a historically poor April. The NASDAC

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Speaker 1: had its worst month since October two thousand eight, and

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Speaker 1: the SNP had its worst April since nineteen seventy. When

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Speaker 1: it comes Karen Is, the Fed is expected to raise

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Speaker 1: interest rates at this week's fo MC meetings. Miller t

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Speaker 1: Back chief market strategist Matt Mayley says if inflation persists,

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Speaker 1: the Fed's path forward becomes murkier. That's the fear that

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Speaker 1: the Fed is going to have no choice but to

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Speaker 1: tighten further and and calling, you know, because of the

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Speaker 1: fear s translation, and that's going to cause the market

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Speaker 1: to fall further than it has. Matt Maylee, chief market

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Speaker 1: strategist of Miller Tabac, says traders should take advantage of

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Speaker 1: the recent sell off on the bond market is also

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Speaker 1: facing around Nathan and Bloomberg's John Tucker tells US that's

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Speaker 1: being fueled by Japanese investors. John good Morning, Good morning, Karen.

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Speaker 1: Japanese institutional managers, known for their legend or a US

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Speaker 1: debt buying sprees in recent decades, now fueling the Great

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Speaker 1: bond sell off. The largest overseas holder of US treasuries

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Speaker 1: has offloaded almost sixty billion dollars over the past three months.

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Speaker 1: Currency hedging costs of off set the appeal of higher

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Speaker 1: US yields of Japanese investors may not return it to

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Speaker 1: the benchmark ten year yield trades firmly above three percent.

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

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Speaker 1: Thanks And over the weekend, Warren Buffett conglomerate Berkshire Hathaway

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Speaker 1: reported earnings that revealed the billionaire was active in Q one. Bloomberg.

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Speaker 1: Unita Young joins US Live with Mark. Good morning, Grnina,

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Speaker 1: Good morning, Nathan. Warren Buffett made forty one billion dollars

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Speaker 1: in net stock purchases during the first quarter, his biggest

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Speaker 1: buying spree in at least a decade, and a war

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Speaker 1: and story US inflation did not deter him from doubling

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Speaker 1: down on a tried entrusted strategy to navigate the fallout.

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Speaker 1: Among the purchases, Berkshire raises its Chevron holdings, and the

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Speaker 1: company now owns an expanded nine point five percent stake

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Speaker 1: in Activision Blizzard, and at the annual shareholders meeting, the

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Speaker 1: nine year old Buffet gave no indications he plans to

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Speaker 1: step back from his role. Live in New York, I'm

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Speaker 1: gonna need a young Bloomberg day break, all right, we

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Speaker 1: need to thank you. Overseas, in Ukraine, about a hundred

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Speaker 1: civilians were evacuated from the besieged steel plant in the

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Speaker 1: port city of Mario Pohl. Ukrainian President Vladimir's lens came

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Speaker 1: with the US Sounds figure Nancy Pelosi during a surprise

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Speaker 1: visit this weekend. And Kiev, the House Speaker met with

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Speaker 1: Poland's president today. And that's the five things you need

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Speaker 1: to notice start your day. Brought to you by Interactive Brokers.

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Speaker 1: This is Bloomberg. Thanks Scaring sixty three on Wall Street.

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Speaker 1: Storm's reven through fifty three degrees in Central Park of

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Speaker 1: some improvement on the New Jersey Transit Northeast Quarter. Details

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Speaker 1: coming up in traffic First, Michael Barr with more on

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00:23:48,960 --> 00:23:51,160
Speaker 1: what's going on in New York and around the world. Michael,

427
00:23:51,160 --> 00:23:54,360
Speaker 1: good morning, Good morning, Nathan. New ethnic crime efforts begin

428
00:23:54,440 --> 00:23:57,600
Speaker 1: today in New York City. Mayor Eric Adams says in

429
00:23:57,640 --> 00:24:00,639
Speaker 1: the most forty violent precincts, authorities will move of neighborhood

430
00:24:00,680 --> 00:24:05,520
Speaker 1: coordinating officers into evening patrols. Other plans include sending field

431
00:24:05,600 --> 00:24:09,040
Speaker 1: intelligence officers to the street. Overall crime is up thirty

432
00:24:09,480 --> 00:24:12,680
Speaker 1: last month compared to April of last year. Mayor Adams

433
00:24:12,720 --> 00:24:15,639
Speaker 1: also says they will crack down on fair cheaters in

434
00:24:15,680 --> 00:24:19,040
Speaker 1: the subways. Hearing is set for today to determine if

435
00:24:19,040 --> 00:24:22,320
Speaker 1: the remaining three survivors of the Tulsa Race massacre will

436
00:24:22,359 --> 00:24:25,280
Speaker 1: be able to take their case to trial. All three

437
00:24:25,320 --> 00:24:28,320
Speaker 1: remaining survivors are over one hundred years old, and their

438
00:24:28,400 --> 00:24:31,280
Speaker 1: lawyers will arguing that the city should be held accountable

439
00:24:31,440 --> 00:24:35,480
Speaker 1: for the public nuisance created by the nineteen one massacre. However,

440
00:24:35,680 --> 00:24:38,959
Speaker 1: City council Member Vanessa Hall Harper says the City of

441
00:24:38,960 --> 00:24:41,960
Speaker 1: Tulsa's lawyers are using the courts to get around a

442
00:24:42,000 --> 00:24:45,480
Speaker 1: community led plan to compensate them. To use beyond apology

443
00:24:45,760 --> 00:24:48,560
Speaker 1: to discredit this case is nothing but one of the

444
00:24:48,560 --> 00:24:52,119
Speaker 1: tricks played by white supremacy, and I'm not falling for it.

445
00:24:52,640 --> 00:24:56,040
Speaker 1: The so called Beyond Apology project was passed to examine

446
00:24:56,040 --> 00:24:59,600
Speaker 1: how to repair damage caused by the massacre. The juds

447
00:24:59,600 --> 00:25:02,440
Speaker 1: were in in the Country Music Hall of Fame last night,

448
00:25:02,480 --> 00:25:06,960
Speaker 1: just to day after singer Naomi Judd died. Her daughter Wenona,

449
00:25:07,160 --> 00:25:09,679
Speaker 1: who was the other half of the singing duo, spoke

450
00:25:09,800 --> 00:25:13,480
Speaker 1: in accepting the award alongside her sister Ashley. I'm gonna

451
00:25:13,480 --> 00:25:18,119
Speaker 1: make this fast because my heart's broken and I feel

452
00:25:18,160 --> 00:25:21,399
Speaker 1: so blessed, and it's a very strange dynamic to be

453
00:25:21,520 --> 00:25:25,560
Speaker 1: this broken in this blessed. Wenona and Naomi Judd were

454
00:25:25,640 --> 00:25:28,520
Speaker 1: among the most popular duos of the nineteen eighties. The

455
00:25:28,560 --> 00:25:31,200
Speaker 1: family said Naomi Judd died at the age of seventy

456
00:25:31,240 --> 00:25:34,760
Speaker 1: six due to the disease of mental illness. A Shanghai

457
00:25:34,840 --> 00:25:38,280
Speaker 1: nursing home resident was mistakenly taken to the morgue while

458
00:25:38,359 --> 00:25:41,400
Speaker 1: still alive. It comes as the city's COVID nineteen I'll

459
00:25:41,440 --> 00:25:45,600
Speaker 1: break in. Prolonged lockdown have stretched medical facilities to the

460
00:25:45,640 --> 00:25:49,399
Speaker 1: breaking point. The municipal government says it is investigating. Warmer

461
00:25:49,400 --> 00:25:51,399
Speaker 1: temperatures may lift your spirits, but it could be a

462
00:25:51,520 --> 00:25:55,280
Speaker 1: challenging time for anyone with allergies. Experts say masks can

463
00:25:55,280 --> 00:25:59,520
Speaker 1: offer protection from common allergens more problematic during the spring.

464
00:26:00,080 --> 00:26:02,399
Speaker 1: Dr dry and Sutton says it's important to change your

465
00:26:02,440 --> 00:26:05,800
Speaker 1: mask regularly. If it's a cloth mask, wash it regularly

466
00:26:05,840 --> 00:26:08,479
Speaker 1: because those allergians can get trapped on the outside that

467
00:26:08,520 --> 00:26:12,159
Speaker 1: can constantly expose you and get you symptomatic. Dr Sutton

468
00:26:12,200 --> 00:26:15,240
Speaker 1: also told ABC We're a well fitted, high quality mask.

469
00:26:15,640 --> 00:26:18,280
Speaker 1: Global News twenty four hours a day on air and

470
00:26:18,440 --> 00:26:21,760
Speaker 1: on Bloomberg Quittake, powered by more than twenty seven under

471
00:26:21,800 --> 00:26:24,440
Speaker 1: journalists and analysts more than a hundred twenty countries. Michael

472
00:26:24,440 --> 00:26:31,600
Speaker 1: bar this is Bloomberg Naked, Thanks Michael. Just about six

473
00:26:31,640 --> 00:26:34,240
Speaker 1: thirty six on Wall Street. John Stanshire has the Bloomberg

474
00:26:34,320 --> 00:26:37,760
Speaker 1: Sports Updad. Thanks Nathan Yankees and Mets two best records

475
00:26:37,760 --> 00:26:39,920
Speaker 1: in baseball. Mets in Phillies last night at City Field

476
00:26:39,960 --> 00:26:41,960
Speaker 1: next Yers, who did not have his best stuff either,

477
00:26:42,040 --> 00:26:44,280
Speaker 1: three home runs one to his Plumber teammate Brice Harper,

478
00:26:44,359 --> 00:26:47,120
Speaker 1: two more to the Met killer from last year. Kyle

479
00:26:47,160 --> 00:26:49,000
Speaker 1: Schwarber and the Phillies hit four home runs and all

480
00:26:49,000 --> 00:26:51,320
Speaker 1: the Mets did not hit any and yet Met's one

481
00:26:51,440 --> 00:26:53,960
Speaker 1: ten six, the fifteen hit attack and showers were able

482
00:26:54,000 --> 00:26:55,919
Speaker 1: to improve the four and oh before the Mets one

483
00:26:55,960 --> 00:26:59,239
Speaker 1: another series. There's seventh in a row. The Yankees one

484
00:26:59,240 --> 00:27:01,520
Speaker 1: another game, ninth in a row for just the sweep

485
00:27:01,520 --> 00:27:04,360
Speaker 1: in Kansas City six to four. Aaron Judge a long

486
00:27:04,440 --> 00:27:06,360
Speaker 1: home run on the first inning and the Royals led

487
00:27:06,400 --> 00:27:08,879
Speaker 1: four to one. The Yanks team back. Judge had another

488
00:27:08,920 --> 00:27:11,080
Speaker 1: homer in the nineties at seven homers in his last

489
00:27:11,080 --> 00:27:13,520
Speaker 1: eight games. Yanks played tonight in Toronto, top two teams

490
00:27:13,520 --> 00:27:17,000
Speaker 1: in the Al East. Yanti managers Aaron Boone. Obviously, they're

491
00:27:17,000 --> 00:27:20,399
Speaker 1: a really good team off to a good start as well. Um,

492
00:27:20,440 --> 00:27:22,639
Speaker 1: you know, a team I'm sure we're gonna have to

493
00:27:22,680 --> 00:27:25,240
Speaker 1: battle with all year. Uh school want to get to

494
00:27:25,240 --> 00:27:27,760
Speaker 1: where we want to go, so uh looking forward to

495
00:27:27,800 --> 00:27:30,360
Speaker 1: going up there and playing against one of the games best.

496
00:27:30,520 --> 00:27:32,320
Speaker 1: Yanks start the series game and a half ahead of

497
00:27:32,320 --> 00:27:34,639
Speaker 1: the Blue Jays Mets tonight pick on the Atlanta Praise

498
00:27:34,680 --> 00:27:37,000
Speaker 1: at City Field. NBA playoffs to start around two two

499
00:27:37,000 --> 00:27:39,639
Speaker 1: wins by the road teams Milwaukee in Boston one on

500
00:27:39,760 --> 00:27:41,600
Speaker 1: one to eighty nine. Janas sent to the Compo at

501
00:27:41,640 --> 00:27:44,920
Speaker 1: a triple double Golden State a one seventeen one six

502
00:27:44,960 --> 00:27:47,359
Speaker 1: team win in Memphis. The other two series start tonight.

503
00:27:47,400 --> 00:27:49,480
Speaker 1: It's also the start of the Stanley Cup playoffs tonight

504
00:27:49,480 --> 00:27:52,959
Speaker 1: with four games Rangers in Pittsburgh. Penguins begin their series

505
00:27:52,960 --> 00:27:55,240
Speaker 1: tomorrow night at the Guarden. The Rangers top scorer r

506
00:27:55,320 --> 00:27:57,840
Speaker 1: Timmy pannerin injured at the end of the regular season.

507
00:27:57,920 --> 00:28:00,880
Speaker 1: He's been cleared to play the series over golf in Mexico,

508
00:28:01,240 --> 00:28:03,840
Speaker 1: waiting for John Robbins first since last year's US hoping

509
00:28:04,200 --> 00:28:07,240
Speaker 1: Jo's actually went Gruberg Sports Nathan all Right, John, Thanks

510
00:28:07,240 --> 00:28:09,359
Speaker 1: six thirty seven on Wall Street. Time to take a

511
00:28:09,359 --> 00:28:12,479
Speaker 1: look at some of the stocks moving in the pre market.

512
00:28:12,480 --> 00:28:15,720
Speaker 1: Bloomberg Radio and TV Markets correspondent Crety gooped this here

513
00:28:15,720 --> 00:28:18,600
Speaker 1: to help us kick off the trading month of May,

514
00:28:18,800 --> 00:28:21,679
Speaker 1: and it's getting off to a very interesting start creaty

515
00:28:21,760 --> 00:28:25,480
Speaker 1: thanks to Warren Buffett. Thanks to Warren Buffett, the Berkshire

516
00:28:25,560 --> 00:28:27,720
Speaker 1: bid is alive, or the Buffet Bit, if that's what

517
00:28:27,760 --> 00:28:29,960
Speaker 1: you want to call it. Two stocks moving in the

518
00:28:29,960 --> 00:28:31,560
Speaker 1: pre market that you really want to keep your eye on.

519
00:28:31,600 --> 00:28:33,520
Speaker 1: I wanna start with Activision here, a t V I

520
00:28:33,640 --> 00:28:36,560
Speaker 1: is your Taker up three percent. Now. Over the weekend,

521
00:28:37,160 --> 00:28:40,880
Speaker 1: the Buffet Berkshire Hathaway annual kind of shareholder meeting happened

522
00:28:40,880 --> 00:28:43,320
Speaker 1: in Omaha, Nebraska, and he kind of talked about what

523
00:28:43,480 --> 00:28:46,600
Speaker 1: his holdings were, what why he has them, what his

524
00:28:46,680 --> 00:28:49,520
Speaker 1: future kind of thoughts are on the overall economy. Actually

525
00:28:49,560 --> 00:28:51,680
Speaker 1: said he's kind of bullish on the economy, he's bullish

526
00:28:51,680 --> 00:28:54,720
Speaker 1: on stocks. But he also really dug into Activision a

527
00:28:54,840 --> 00:28:58,160
Speaker 1: t V I is your Taker, saying it's an arbitrage

528
00:28:58,160 --> 00:29:00,240
Speaker 1: deal and the Nathan you'll remember that activity And was

529
00:29:00,280 --> 00:29:02,640
Speaker 1: bought up by Microsoft, or the deal at least was

530
00:29:02,680 --> 00:29:05,080
Speaker 1: created to be to buy be bought by Microsoft. It

531
00:29:05,080 --> 00:29:07,000
Speaker 1: really helps them align some of the Call of Duty.

532
00:29:07,040 --> 00:29:10,960
Speaker 1: For example, Microsoft owned Xbox, which is kind of the

533
00:29:11,280 --> 00:29:14,040
Speaker 1: platform for lack of a better term, whereas a Call

534
00:29:14,080 --> 00:29:17,160
Speaker 1: of Duty is owned by Activision um. Activision also was

535
00:29:17,240 --> 00:29:21,360
Speaker 1: undergoing some some personal kind of issues as well. Nevertheless,

536
00:29:21,440 --> 00:29:23,880
Speaker 1: Warren Buffett says, well, first off, we have to kind

537
00:29:23,880 --> 00:29:26,400
Speaker 1: of build up their shares because there's an arbitrage deal here,

538
00:29:26,640 --> 00:29:29,360
Speaker 1: Microsoft looking to buy Activiston for nine dollars to share.

539
00:29:29,760 --> 00:29:33,160
Speaker 1: Activision shares only trading at seventy seven dollars, So naturally

540
00:29:33,160 --> 00:29:34,880
Speaker 1: you have a little bit of the arbitrage play there.

541
00:29:35,080 --> 00:29:38,480
Speaker 1: And when Warren Buffett pointed that out, Activision shares caught

542
00:29:38,560 --> 00:29:40,520
Speaker 1: quite a boost. At least that's up three point two

543
00:29:40,520 --> 00:29:42,520
Speaker 1: percent in pre market trading. The other one he really

544
00:29:42,520 --> 00:29:45,640
Speaker 1: mentioned was Chevron. Nathan c v x's your taker. Now,

545
00:29:45,680 --> 00:29:47,640
Speaker 1: given that oil prices are down this morning, you are

546
00:29:47,640 --> 00:29:50,760
Speaker 1: seeing Chevron drop in tandem. But keep an eye on

547
00:29:50,840 --> 00:29:53,200
Speaker 1: this one because remember warm Buffet has already built up

548
00:29:53,200 --> 00:29:56,479
Speaker 1: as occidental shares, So Chevron as kind of play on

549
00:29:56,600 --> 00:30:00,360
Speaker 1: energy is pretty interesting. Any other interesting moves out side

550
00:30:00,360 --> 00:30:03,200
Speaker 1: the Berkshire bid creaty, Let's stick with the commodity story, right,

551
00:30:03,240 --> 00:30:06,040
Speaker 1: because that was a big part of what Warren Buffett

552
00:30:06,040 --> 00:30:07,560
Speaker 1: was talking about when it comes to the oil space.

553
00:30:07,600 --> 00:30:10,160
Speaker 1: But this is also a move that you're seeing outside

554
00:30:10,200 --> 00:30:12,960
Speaker 1: of the oil space. In copper. For example, Freeport Macaron

555
00:30:13,120 --> 00:30:15,920
Speaker 1: fc X is your ticker down two point three percent.

556
00:30:16,000 --> 00:30:17,760
Speaker 1: I mentioned oil prices were down. A lot of that

557
00:30:17,840 --> 00:30:20,280
Speaker 1: has to do with the growth story, while that growth

558
00:30:20,320 --> 00:30:23,360
Speaker 1: story is filtering into copper prices as well, and therefore

559
00:30:23,360 --> 00:30:25,720
Speaker 1: having a read through into a one of the world's

560
00:30:25,800 --> 00:30:29,440
Speaker 1: largest copper producers, which of course is Freeport macroon f

561
00:30:29,600 --> 00:30:32,040
Speaker 1: c X. As I mentioned, Nathan down two point three percent,

562
00:30:32,320 --> 00:30:34,120
Speaker 1: and then I want to point out one more stock

563
00:30:34,160 --> 00:30:36,640
Speaker 1: to put on your radar. EPAM Systems e p A

564
00:30:36,840 --> 00:30:40,040
Speaker 1: M down one point four percent. This is despite getting

565
00:30:40,120 --> 00:30:43,840
Speaker 1: a raised recommendation over at Piper Sailor to overweight citing

566
00:30:43,840 --> 00:30:46,120
Speaker 1: healthy demand for digital I T services. No, remember, this

567
00:30:46,160 --> 00:30:48,400
Speaker 1: is a company that has a huge amount of personnel

568
00:30:48,680 --> 00:30:50,840
Speaker 1: in Ukraine and Russia, so that might be a reason

569
00:30:51,120 --> 00:30:53,320
Speaker 1: it's lower on the day, All right, Bloomberg Radio on

570
00:30:53,360 --> 00:30:56,000
Speaker 1: TV Markets correspondent Crety Goop keeping an eye and all

571
00:30:56,040 --> 00:30:58,920
Speaker 1: that's happening in the pre market, looking at stocks as

572
00:30:58,920 --> 00:31:01,720
Speaker 1: a whole, out to the open for the month of May.

573
00:31:01,920 --> 00:31:05,680
Speaker 1: Futures moving higher, SMP futures up almost nineteen points, STUFF

574
00:31:05,680 --> 00:31:08,720
Speaker 1: futures up a hundred fifty nine, NASTAC futures are higher

575
00:31:08,800 --> 00:31:11,480
Speaker 1: by seventy five points. The tenure treasury is up three

576
00:31:11,560 --> 00:31:14,880
Speaker 1: thirty seconds, the yield two point nine to per cent.

577
00:31:15,120 --> 00:31:23,520
Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather.

578
00:31:23,600 --> 00:31:26,120
Speaker 1: Clouds this afternoon with highs in the upper fifties, will

579
00:31:26,160 --> 00:31:29,160
Speaker 1: be in the mid sixties under cloudy sky. Tomorrow. Showers

580
00:31:29,160 --> 00:31:32,000
Speaker 1: return Wednesday with a high near sixty right now stormy

581
00:31:32,320 --> 00:31:38,480
Speaker 1: and fifty three degrees in Central Park. Markets, headlines and

582
00:31:38,600 --> 00:31:41,840
Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com,

583
00:31:41,960 --> 00:31:45,520
Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape is

584
00:31:45,560 --> 00:31:55,400
Speaker 1: a Bloomberg Business Flash, and I'm Karen Moscow future is rising.

585
00:31:55,440 --> 00:31:57,320
Speaker 1: This morning, we get to the first Word Breaking news

586
00:31:57,360 --> 00:32:00,600
Speaker 1: desk for today's morning call. Here's Bill Maloney, Bill, good morning,

587
00:32:00,920 --> 00:32:03,440
Speaker 1: and good morning, Karen. A modest bounce in the US

588
00:32:03,480 --> 00:32:06,520
Speaker 1: futures after Friday's plunge, without futures up a hundred forty

589
00:32:06,520 --> 00:32:09,640
Speaker 1: three points, subs gained sixteen. NAZDA futures are higher by

590
00:32:09,720 --> 00:32:12,600
Speaker 1: sixty four the US ten year old at two point

591
00:32:12,680 --> 00:32:15,440
Speaker 1: nine two. Gold is down nineteen. Oil is in the red,

592
00:32:15,720 --> 00:32:18,959
Speaker 1: but bitcoin is higher by one point three percent. Japan

593
00:32:19,120 --> 00:32:21,240
Speaker 1: was a little changed overnight, while up markets are in

594
00:32:21,280 --> 00:32:23,240
Speaker 1: the red this morning and back in the US. On

595
00:32:23,280 --> 00:32:26,600
Speaker 1: the economic front, at Manufacturing p M I and at

596
00:32:26,640 --> 00:32:30,400
Speaker 1: ten o'clock construction spending and I s M Manufacturing. In

597
00:32:30,600 --> 00:32:34,120
Speaker 1: other news, Buffet boosted his steak in Chevron and wrapping

598
00:32:34,120 --> 00:32:36,320
Speaker 1: things up wire Houses was cut to market perform over

599
00:32:36,360 --> 00:32:39,719
Speaker 1: at BMO America was raised to overweight over Red Piper

600
00:32:40,320 --> 00:32:42,960
Speaker 1: live from the first to Breaking News Dotcom Doll Maloney, Karen,

601
00:32:43,280 --> 00:32:45,160
Speaker 1: all right, Bill, thank you and to hear live breaking

602
00:32:45,160 --> 00:32:47,440
Speaker 1: news of your Bloomberg type squawk on your term and

603
00:32:47,480 --> 00:32:49,280
Speaker 1: I'll sc you a w u K and that's a

604
00:32:49,280 --> 00:32:52,000
Speaker 1: Bloomberg business flash. Now here's Michael Barrow with more on

605
00:32:52,040 --> 00:32:54,840
Speaker 1: what's going on around the world. Montal, Karen, thank you

606
00:32:54,920 --> 00:32:58,000
Speaker 1: very much. In Ukraine, the United Nations and Red Across

607
00:32:58,040 --> 00:33:00,880
Speaker 1: were able to successfully eva you wait about the hundreds

608
00:33:00,880 --> 00:33:05,080
Speaker 1: civilians from a besiege steel plant in merry Upole. However,

609
00:33:05,320 --> 00:33:09,680
Speaker 1: many more remained there alongside Ukrainian fighters. Meanwhile, House Speaker

610
00:33:09,800 --> 00:33:13,360
Speaker 1: Nancy Pelosi and other lawmakers are continuing their overseas trip.

611
00:33:13,760 --> 00:33:18,120
Speaker 1: After meeting with Ukrainian President Zelinski and Kiev yesterday, Pelosi

612
00:33:18,400 --> 00:33:21,160
Speaker 1: and other U S lawmakers met with Polish President Duda

613
00:33:21,520 --> 00:33:25,920
Speaker 1: among other Polish officials in Warsaw today. In the NBA playoffs,

614
00:33:26,000 --> 00:33:28,320
Speaker 1: the Celtics lost to the Bucks one oh one eighty

615
00:33:28,440 --> 00:33:31,840
Speaker 1: nine in the opening game of their series. The Warriors

616
00:33:31,840 --> 00:33:35,840
Speaker 1: beat the Grizzlies one seventeen one sixteen in their game one.

617
00:33:36,280 --> 00:33:39,640
Speaker 1: In baseball, the Yankees and Mets one. The Orioles beat

618
00:33:39,680 --> 00:33:42,960
Speaker 1: the Red Sox nine five. The Nationals beat the Giants

619
00:33:42,960 --> 00:33:46,640
Speaker 1: eleven five. The A's lost. Global News twenty four hours

620
00:33:46,640 --> 00:33:49,880
Speaker 1: a day on air and on Bloomberg Quicktake, powered by

621
00:33:49,880 --> 00:33:52,880
Speaker 1: more than twenty d journalists and analysts and more than

622
00:33:52,880 --> 00:33:55,520
Speaker 1: a hundred twenty countries. I'm Michael bar This is Bloomberg.

623
00:33:56,200 --> 00:34:00,560
Speaker 1: The following commentary is from Bloomberg Opinion. How often do

624
00:34:00,600 --> 00:34:03,600
Speaker 1: we have to get COVID to stop getting COVID? I'm

625
00:34:03,640 --> 00:34:07,680
Speaker 1: Justin Fox, a columnist for Bloomberg Opinion. The mucous membrane

626
00:34:07,680 --> 00:34:10,200
Speaker 1: in the nose and throat has its own immune system

627
00:34:10,280 --> 00:34:14,000
Speaker 1: of sorts, and the COVID nineteen vaccines available so far

628
00:34:14,440 --> 00:34:17,520
Speaker 1: don't target it. That's why they've had only limited success

629
00:34:17,520 --> 00:34:20,560
Speaker 1: in preventing transmission of the disease, even as they've been

630
00:34:20,560 --> 00:34:23,040
Speaker 1: great at keeping it from spreading to the lungs and

631
00:34:23,080 --> 00:34:28,200
Speaker 1: causing severe illness. German virologist Christian Drosten predicted this now.

632
00:34:28,360 --> 00:34:31,239
Speaker 1: He says that getting to an endemic COVID with only

633
00:34:31,320 --> 00:34:34,960
Speaker 1: modest seasonal outbreaks is going to have to involve widespread

634
00:34:35,040 --> 00:34:39,880
Speaker 1: mucostal immunity. Nasal spray vaccines currently under development might do

635
00:34:40,000 --> 00:34:42,320
Speaker 1: the trick, but the likelier path will be most of

636
00:34:42,400 --> 00:34:45,960
Speaker 1: us getting COVID again and again. How many times in

637
00:34:46,040 --> 00:34:48,359
Speaker 1: the range of a number that you can count on

638
00:34:48,360 --> 00:34:52,239
Speaker 1: one hand, Drosten said last month, I'm justin Fox. For

639
00:34:52,320 --> 00:34:55,920
Speaker 1: more opinion, please go to Bloomberg dot com, Slash Opinion

640
00:34:56,280 --> 00:34:58,880
Speaker 1: or O P I n go on the Bloomberg terminal

641
00:34:59,400 --> 00:35:03,400
Speaker 1: has been Bloomberg Opinion and Bloomberg Opinion commentaries can be

642
00:35:03,400 --> 00:35:06,040
Speaker 1: heard every weekday at this time, and terminal customers can

643
00:35:06,120 --> 00:35:08,640
Speaker 1: read more at O P I n go. And it

644
00:35:08,680 --> 00:35:11,160
Speaker 1: says fifty on Wall Street. Let's turn to news now

645
00:35:11,160 --> 00:35:13,600
Speaker 1: and science and technology with the Bloomberg n j i

646
00:35:13,719 --> 00:35:16,800
Speaker 1: T Stem Report brought to you buy New Jersey Institute

647
00:35:16,840 --> 00:35:19,680
Speaker 1: of Technology n j i T is dedicated to bolstering

648
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Speaker 1: support for female and minorities students pursuing careers and high

649
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Speaker 1: paying STEM industries. Learn more at n j i T

650
00:35:26,680 --> 00:35:30,759
Speaker 1: dot e DU and here's just making news in science, Technology, engineering,

651
00:35:30,800 --> 00:35:34,400
Speaker 1: and math. Nearly two dozen senators are employing President Biden

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00:35:34,440 --> 00:35:38,239
Speaker 1: to swiftly advance a trade probe that they say, was

653
00:35:38,320 --> 00:35:42,360
Speaker 1: already causing massive disruption in the U S solar industry.

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00:35:42,480 --> 00:35:46,040
Speaker 1: The senators say the investigation into whether Chinese companies are

655
00:35:46,040 --> 00:35:50,160
Speaker 1: circumventing decade old tariffs by assembling solar cells and modules

656
00:35:50,160 --> 00:35:54,319
Speaker 1: in Southeast Asia will quote severely harm American businesses and

657
00:35:54,400 --> 00:35:58,960
Speaker 1: workers as long as it continues. Coronavirus lockdowns in China

658
00:35:59,040 --> 00:36:01,440
Speaker 1: are taking a significant and toll in the country's economy

659
00:36:01,520 --> 00:36:04,360
Speaker 1: over the weekend. Official data show that both manufacturing and

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00:36:04,440 --> 00:36:07,799
Speaker 1: services activity plunged in April to their worst levels in

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00:36:07,840 --> 00:36:12,320
Speaker 1: more than two years. Indexes for exports and imports also slumped,

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00:36:12,680 --> 00:36:15,360
Speaker 1: and Apple has been hit by a formal antitrust complane

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Speaker 1: from the European Union for restricting access to technology and

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Speaker 1: services that allow users to make payments direct from their

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00:36:21,680 --> 00:36:25,120
Speaker 1: phones their iPhones. That is, the European Commission says it's

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00:36:25,120 --> 00:36:27,600
Speaker 1: sent a so called statement of objections alleging how the

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Speaker 1: tech giant abuses its dominance over mobile wallets on its

668
00:36:31,120 --> 00:36:34,880
Speaker 1: devices via its Apple Pay service. If confirmed, the company

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Speaker 1: could face hefty fines under EU antitrust rules and as

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Speaker 1: a Bloomberg n j I t STEM report. Nathan all Right,

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Speaker 1: Karen thank you. We're live from the Bloomberg dittre Active

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00:36:43,640 --> 00:36:46,200
Speaker 1: Broker studios. Or it's almost six fifty two on Wall Street.

673
00:36:46,200 --> 00:36:47,800
Speaker 1: Time out to check what's going on in d C.

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Speaker 1: Some of the top stories in our nation's capital include

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00:36:51,200 --> 00:36:55,480
Speaker 1: how Speaker Nancy Pelosi's unannounced trip to kiv Ukrainian Ambassador

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00:36:55,640 --> 00:36:59,640
Speaker 1: Xana Markarova called the gesture a special delight. We have

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00:36:59,719 --> 00:37:03,160
Speaker 1: c in how the US has been leading this sappoints.

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00:37:03,239 --> 00:37:06,280
Speaker 1: We have seen how all the democratic worlds united abound.

679
00:37:06,400 --> 00:37:09,440
Speaker 1: Ukraine Ambassador Markarova was on a b C S this week.

680
00:37:09,600 --> 00:37:12,759
Speaker 1: President Biden is pushing another thirty three billion dollars to

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00:37:12,800 --> 00:37:15,960
Speaker 1: aid Ukraine's war effort. Democrat Tim Caine sits on the

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00:37:16,000 --> 00:37:19,960
Speaker 1: Senate Armed Services and Foreign Relations committees. We need COVID aid,

683
00:37:20,440 --> 00:37:23,680
Speaker 1: we need Ukraine aid. We should do them together or separately.

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00:37:23,760 --> 00:37:26,080
Speaker 1: But we shouldn't wait around. And I think that's what

685
00:37:26,280 --> 00:37:28,319
Speaker 1: May needs to be about for US is getting both

686
00:37:28,320 --> 00:37:31,520
Speaker 1: of these done. Senator Kane was on CBSS Face the Nation.

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00:37:32,000 --> 00:37:36,320
Speaker 1: Also making news, Homeland Security Secretary Alejandro may Orcas preparing

688
00:37:36,360 --> 00:37:39,480
Speaker 1: for a migrant surge as Title forty two authorities at

689
00:37:39,480 --> 00:37:42,560
Speaker 1: the border expire in three weeks. Ma Orcus tells Fox

690
00:37:42,600 --> 00:37:45,319
Speaker 1: News Sunday they've been working on a plan since September.

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00:37:45,520 --> 00:37:48,040
Speaker 1: One of the pillars of that plan is to work

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00:37:48,120 --> 00:37:53,279
Speaker 1: with our partners to the south and really ensure that

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00:37:53,480 --> 00:37:58,920
Speaker 1: they manage their respective borders. Fox News Sunday, Face the

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00:37:59,040 --> 00:38:01,759
Speaker 1: Nation and this can be heard every Sunday right here

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00:38:01,800 --> 00:38:04,880
Speaker 1: on Bloomberg Radio. For more, We're joined live by Bloomberg

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00:38:04,880 --> 00:38:09,560
Speaker 1: Government reporter Emily Wilkins. Emily, good morning. Obviously, the big

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00:38:09,600 --> 00:38:13,359
Speaker 1: news over the weekend how Speaker Pelosi leading that Congressional

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00:38:13,400 --> 00:38:18,160
Speaker 1: delegation to Kiev. Uh. The the Congress members have moved

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00:38:18,200 --> 00:38:22,360
Speaker 1: on to Poland, but this is another major symbolic gesture

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00:38:22,480 --> 00:38:26,560
Speaker 1: by the US of support for Ukraine. Absolutely, Nathan, I mean,

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00:38:26,600 --> 00:38:29,240
Speaker 1: this is at this point the highest dranking US official

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00:38:29,640 --> 00:38:32,400
Speaker 1: to visit Kiev, to to really walk the streets, to

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00:38:32,560 --> 00:38:36,200
Speaker 1: meet President of Vladimir z Alinsky, and to really come

704
00:38:36,200 --> 00:38:38,600
Speaker 1: off with what they say is meant to show how

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00:38:38,640 --> 00:38:41,240
Speaker 1: firmly the US is standing with Ukraine. At this point,

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00:38:41,480 --> 00:38:44,760
Speaker 1: Blosi bow to quickly pass that thirty three billion dollars

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00:38:45,080 --> 00:38:49,080
Speaker 1: UH for Ukraine aid that President Biden requested. Now the

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00:38:49,120 --> 00:38:52,320
Speaker 1: House isn't in session this sweek. Members are back in

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00:38:52,360 --> 00:38:54,840
Speaker 1: their districts, but we know the Senates in session, and

710
00:38:54,880 --> 00:38:58,600
Speaker 1: the Senate does have ways to start moving on legislation,

711
00:38:58,640 --> 00:39:01,680
Speaker 1: so could potentially be ready in House comes back. But

712
00:39:01,719 --> 00:39:04,280
Speaker 1: there are a lot of questions right now about that aid,

713
00:39:04,360 --> 00:39:05,880
Speaker 1: whether or not they're going to try and tie a

714
00:39:05,960 --> 00:39:08,560
Speaker 1: COVID funding to it, whether or not that's going to

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00:39:08,600 --> 00:39:12,359
Speaker 1: wind up having some immigration policies attached to it. Um.

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00:39:12,400 --> 00:39:14,400
Speaker 1: This is the thing with these must pass bills that

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00:39:14,440 --> 00:39:17,440
Speaker 1: have brought bipartisan support me than they tend to attract

718
00:39:17,480 --> 00:39:21,000
Speaker 1: other stuff because lawmakers know they're going to move. Will

719
00:39:21,040 --> 00:39:25,359
Speaker 1: that other stuff potentially slow the works on Capitol Hill

720
00:39:25,480 --> 00:39:29,480
Speaker 1: if it does, if we do see some amendments that

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00:39:29,600 --> 00:39:35,080
Speaker 1: aren't directly related to Ukraine, and it absolutely could. There's

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00:39:35,080 --> 00:39:38,520
Speaker 1: still a lot of controversy right now about President Biden's

723
00:39:38,560 --> 00:39:42,279
Speaker 1: plan to end that ban on the southern border that

724
00:39:42,440 --> 00:39:46,000
Speaker 1: made it easier to to turn migrants away under pandemic

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00:39:46,040 --> 00:39:49,600
Speaker 1: air policies, and that's something Republicans have really vowed to

726
00:39:49,640 --> 00:39:53,799
Speaker 1: push for with particular funding. However, we don't really know

727
00:39:53,920 --> 00:39:56,200
Speaker 1: yet if Republicans would tried that with the aid from

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00:39:56,280 --> 00:40:00,000
Speaker 1: Ukraine just because there is so much support for Presidents

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00:40:00,080 --> 00:40:03,120
Speaker 1: SKI and such a wide acceptance that he does continue

730
00:40:03,120 --> 00:40:07,360
Speaker 1: to need funding for weapons, for humanitarian aid to continue

731
00:40:07,360 --> 00:40:09,920
Speaker 1: to sort of go at this war with Russia. You

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00:40:09,960 --> 00:40:12,959
Speaker 1: mentioned the expiration of the title forty two authorities. Let's

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00:40:13,000 --> 00:40:17,799
Speaker 1: move on to that, because Homeland Security Secretary Mayorcus was

734
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Speaker 1: asked about that repeatedly over the weekend. He says, there's

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Speaker 1: a six point plan. What's the feeling on Capitol Hill

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Speaker 1: about whether that six point plan has been spelled out

737
00:40:29,239 --> 00:40:31,920
Speaker 1: well enough or whether it's going to be enough for

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Speaker 1: a potential migrant surge this spring. It doesn't seem at

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00:40:36,000 --> 00:40:39,200
Speaker 1: this point like all lawmakers are convinced, even all Democratic

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00:40:39,239 --> 00:40:42,439
Speaker 1: lawmakers are convinced that this plan is going to be enough.

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Speaker 1: I mean, Maracas has been on the hill, he's been

742
00:40:45,000 --> 00:40:47,720
Speaker 1: trying to talk with lawmakers about the plan. He hasn't

743
00:40:47,719 --> 00:40:50,720
Speaker 1: been able to make all aspects of public decent because

744
00:40:50,800 --> 00:40:53,919
Speaker 1: he's there's concerned that if they do, that might sort

745
00:40:53,920 --> 00:40:56,920
Speaker 1: of aid cartels and drug dealers who work across the

746
00:40:56,960 --> 00:41:00,000
Speaker 1: border in terms of how they maneuver. So he doesn't

747
00:41:00,000 --> 00:41:02,640
Speaker 1: want to be too transparent in public. But when you

748
00:41:02,680 --> 00:41:05,440
Speaker 1: talk to members even they continue to have some concerns.

749
00:41:05,440 --> 00:41:08,680
Speaker 1: Are a number of Democrats that have asked that, you know,

750
00:41:08,719 --> 00:41:12,000
Speaker 1: while of this Title forty two is expected to be lifted,

751
00:41:12,160 --> 00:41:15,680
Speaker 1: one they said, hold on, can we delay that deadline

752
00:41:15,719 --> 00:41:18,120
Speaker 1: for a little bit and just need a better understanding

753
00:41:18,160 --> 00:41:21,280
Speaker 1: and a more comprehensive plan about what's going to happen.

754
00:41:21,400 --> 00:41:24,200
Speaker 1: And you even heard Mara Cause say this past weekend

755
00:41:24,520 --> 00:41:27,680
Speaker 1: that the U S system could come under immense pressure

756
00:41:28,160 --> 00:41:32,040
Speaker 1: if there's a surge of more than eighteen thousand migrants

757
00:41:32,080 --> 00:41:34,520
Speaker 1: at the border of the day. That's what they're preparing for,

758
00:41:34,880 --> 00:41:36,920
Speaker 1: but there's really no way for them to know at

759
00:41:36,960 --> 00:41:39,919
Speaker 1: this point what kind of strained immigration system is going

760
00:41:39,960 --> 00:41:42,000
Speaker 1: to be under. Now, we're gonna see a lot of

761
00:41:42,040 --> 00:41:44,120
Speaker 1: this play out in just the next few weeks, when

762
00:41:44,160 --> 00:41:48,160
Speaker 1: those Title forty three authorities are scheduled at least to

763
00:41:48,320 --> 00:41:51,560
Speaker 1: expire on May the twenty three. Emily Wilkins and Bloomberg Government,

764
00:41:51,560 --> 00:41:53,480
Speaker 1: as always thinks for keeping us up on top of

765
00:41:53,520 --> 00:41:56,719
Speaker 1: what's happening in the nation's capital. You can read more

766
00:41:56,800 --> 00:41:59,160
Speaker 1: about all these stories at Bloomberg dot com or on

767
00:41:59,160 --> 00:42:02,440
Speaker 1: the Bloomberg termin and listen to Bloomberg Radio in Washington,

768
00:42:02,480 --> 00:42:06,320
Speaker 1: Bloomberg and one oh five point seven fm h D

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Speaker 1: two SMP futures are higher by fourteen points. Right now,

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Speaker 1: dal Future is up a hundred thirty six. NASTAC futures

771
00:42:13,320 --> 00:42:16,080
Speaker 1: are higher by fifty six points. But the selling continues

772
00:42:16,160 --> 00:42:19,440
Speaker 1: in Europe, with Germany's decks down seven tenths percent. The

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00:42:19,480 --> 00:42:22,800
Speaker 1: cat in Paris is lower by one point four percent.

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00:42:23,120 --> 00:42:25,960
Speaker 1: The footste London is closed today for a bank holiday.

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00:42:26,160 --> 00:42:29,040
Speaker 1: Ten Your Treasury is up five thirty seconds. The yield

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00:42:29,040 --> 00:42:31,279
Speaker 1: two point nine one percent yield on the two year

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00:42:31,320 --> 00:42:34,759
Speaker 1: two point seven zero nime X crew down two point

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Speaker 1: eight percent, down two dollars cents and a hundred one

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00:42:37,719 --> 00:42:42,040
Speaker 1: dollar seventy four cents of barrel. Bloomberg surveillance is straight

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00:42:42,040 --> 00:42:46,279
Speaker 1: ahead for Karen Moscow. I'm Nathan Hagar, and this is

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Speaker 1: Bloomberg