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Speaker 1: Live from the Bloomberg Interactive Burger Studios is Bloomberg Daybreak

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Speaker 1: for a Wednesday, April two coming up. This hour shares

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Speaker 1: a Google parent alphabet slump, while Microsoft rallies after earnings.

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Speaker 1: European gas prices surge as Russia cuts off supplies to

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Speaker 1: Poland and Bulgaria, and the stock market sell off wipes

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Speaker 1: away more than thirty billion dollars of Elon Musk's Tesla. Well,

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Speaker 1: the m t A is trying to get New Yorkers

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Speaker 1: to pay their fair share. Plus House Republican leader McCarthy.

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Speaker 1: You will be asked again to testify before the January

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Speaker 1: sixth panel. Michael larn More, I'm John Spanish Ower and Sports.

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Speaker 1: The Anthony Rizzo hit three home runs and the Yankees

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Speaker 1: went over the Oriols. The Mets shut out the Cardinals,

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Speaker 1: the Rangers lost the Carolina That's all traded head on

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Speaker 1: Bloomberg Daybreak on Bloomberg eleven, Free on New York, Bloomberg one, Washington,

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Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine

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Speaker 1: sixties and Francisco Sirius XM one nineteen and around the

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Speaker 1: World Old on Bloomberg Radio dot Com. And via the

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Speaker 1: Bloomberg Business app. Good morning, I'm Nathan Hagar and I'm

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Speaker 1: Karen Moscow and US DOT index futures are rising this morning.

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

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

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Speaker 1: On Bloomberg S and P Future is up forty two points,

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Speaker 1: dal Future is up three hundred seventy nine and ASDAC

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Speaker 1: futures up one hundred thirty. The decks in Germany's up

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Speaker 1: half percent. The tenure Treasury down twelve thirty seconds, yield

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Speaker 1: two points seven six percent, and the yield on the

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Speaker 1: two year two point five seven percent. Nine X screwed

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Speaker 1: oil up eight tenths of a percent. Nathan, Well, Karen.

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Speaker 1: We continue to watch the market reaction to earnings. This morning.

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Speaker 1: Shares of Google parent Alphabet Or down almost three percent

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Speaker 1: in early trading. The company reported revenue that was less

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Speaker 1: than estimates, a rare miss for Alphabet. Chief financial officer

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Speaker 1: Ruth Parrott says the lower results stem from the war

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Speaker 1: in Ukraine. In terms of revenues, the most direct impact

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Speaker 1: is the fact that we suspended the vast majority of

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Speaker 1: our commercial act these in Russia. About one percent of

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Speaker 1: Google revenues were from Russia in one and that was

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Speaker 1: primarily from advertising. Alphabet Chief financial officer Ruth Parad also

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Speaker 1: says the company suffered from a pullback in YouTube advertising

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Speaker 1: in Europe. On the flip side, Nathan Shares a Microsoft

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Speaker 1: or up more than five percent this morning, sales and

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Speaker 1: earnings topping analyst Estimatesfield by robust growth in cloud services.

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Speaker 1: Plumberg Intelligence senior analysts and rag Rana said the company

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Speaker 1: can do well even in a tough economic environment. Almost

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Speaker 1: sevent Microsoft revenue is far more resilient and in a

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Speaker 1: recession compared to you know, some other companies. Now that's

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Speaker 1: a very big number. You know that office portfolio, the windows,

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Speaker 1: the cloud dynamics, you know, even LinkedIn, which should see

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Speaker 1: some slow down, but it has been growing in double

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Speaker 1: digit and Bloomberg Intelligence senior analysts and rag Rana says

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Speaker 1: Microsoft is boys to be the top company in both

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Speaker 1: the hybrid cloud and metaverse spaces. All right, let's look

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Speaker 1: at some other stocks moving this morning here, and shares

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Speaker 1: of Texas Instruments are down about three percent. The chip

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Speaker 1: maker says China's ongoing COVID lockdowns are id link factories

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Speaker 1: and slowing shipments. Shares the Visa are up more than

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Speaker 1: five percent. The payments company says spending on its network jumped,

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Speaker 1: and shares of General Motors are higher by three and

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Speaker 1: a half percent. The automaker beat estimates for first quarter profit.

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Speaker 1: Join us later this morning. We'll be speaking live with

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Speaker 1: GM CEO Mary Barra. You can catch that interview at

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Speaker 1: eight forty five am Wall Street Time on Bloomberg Surveillance. Well, Nathan.

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Speaker 1: The vevy of tanker innings continues today, with Facebook parent

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Speaker 1: Meta leading the way, and we get a preview from

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Speaker 1: Bloomberg's John Tucker. Meta Platforms has been one of the

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Speaker 1: worst performing stocks this year, and it could get worse.

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Speaker 1: They're facing rising competition and a big obstacle from Apple's

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Speaker 1: iOS changes that requires app makers to ask consumers to

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Speaker 1: allow tracking. It could cost Meta ten billion dollars this year.

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Speaker 1: Analysts on average expect Meta to report first quarter earnings

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Speaker 1: of two dollars fifty six cents a share, down from

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Speaker 1: three dollars thirty cents a share a year ago. I'm

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Speaker 1: John Tucker, Bloomberg Daybreak. Thanks John, and europe Shares of

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Speaker 1: Deutsche Bank are down almost five percent after earnings higher

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Speaker 1: costs offset better than expected performance at its investment banking business,

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Speaker 1: and shares of credit suites are down about two tenths

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Speaker 1: percent after the Swiss Bank reported a bigger than expected loss.

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Speaker 1: Back Here in the US, Nathan stocks begin to day

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Speaker 1: get a six week low. The S and P five

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Speaker 1: lost two point eight percent yesterday, when the tech heavy

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Speaker 1: NASDACK slumped almost four percent. Alan Lance's research director at

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Speaker 1: lance global dot com, the pendulum always swings from overvalued

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Speaker 1: to undervalued, and and it goes to extremes. I think

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Speaker 1: that's what we're seeing now. Allen Lance of Lance Global

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Speaker 1: says higher interest rates and the war in Ukraine are

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Speaker 1: the biggest factors weighing on stocks. Well, perhaps nobody was

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Speaker 1: affected by yesterday's sell off more Karen than the world's

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Speaker 1: richest man. Let's get the details on that line from

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Speaker 1: Bloomberg's Ornita Young. Good morning, Rinita, Good morning. Nathan. Elon

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Speaker 1: must stake in Tesla tumbled by more than thirty two

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Speaker 1: billion dollars after shares plunged by twelve percent yesterday. But

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Speaker 1: for the world's richest man, this kind of volatility is

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Speaker 1: not new. Sharp declines have periodically hit Tesla stock over

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Speaker 1: the past two years, if they've been offset by even

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Speaker 1: larger gains. However, this time more is at stake. Since

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Speaker 1: Musk is planning to buy out Twitter for forty four

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Speaker 1: billion dollars. He can still afford it based off of

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Speaker 1: Tuesday's closing price for Tesla, but now there's less wiggle room. Meantime,

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Speaker 1: what if the deal falls through? An SEC filing shows

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Speaker 1: the Twitter Musk deal would include a one billion dollar

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Speaker 1: breakup fee if either side backs out. Live in New York.

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Speaker 1: I'm Rnita Young Bloomberg daybreak. All right, Ranita, thank you

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Speaker 1: now to the latest on the war in Ukraine and

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Speaker 1: European gas prices are searching as much as twenty four percent.

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Speaker 1: That's after Russia made good at a threat to cut

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Speaker 1: off supplies to Poland and Bulgaria unless they pay in rubles. Meantime,

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Speaker 1: Defense Secretary Lloyd Austin is promising to move heaven and

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Speaker 1: Earth to get Ukraine the weapons at needs. From our

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Speaker 1: US Ambassador to Ukraine, John Herb says the US should

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Speaker 1: send fighter jets, longer arranged drones, bombers, and tanks. Do

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Speaker 1: you give Ukraine the capability to offset Moscow's large advantage

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Speaker 1: in a open that battle, which is what they will

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Speaker 1: conduct in the East of Ukraine. Former Ambassador John Herbs

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Speaker 1: is now Senior director at the Atlantic Council's Eurasia's Center.

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Speaker 1: He spoke with Our Washington corresponded Joe Matthew on Bloomberg

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Speaker 1: Sound on Catch the Show weekdays at five pm Eastern

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Speaker 1: on Bloomberg Radio. Turning to the economy, now we are

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Speaker 1: just one week away from the Fed's latest policy decision,

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Speaker 1: when a fifty basis point rate hike is expected. Former

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Speaker 1: FED Vice Chair Alan Blinder says, overall, we need to

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Speaker 1: raise rates by at least two hundred basis points. He

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Speaker 1: also sees the chance for a recession above fift Some

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Speaker 1: people are raising the shades of Paul boker uh and

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Speaker 1: the deep recession we had then. I think that's very

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Speaker 1: very unlikely, extremely unlikely. Former FED Vice Chair Allen Blinder

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Speaker 1: made those comments on Bloomberg's Balance of Power Catch That

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Speaker 1: Show weekdays at noon Eastern on Bloomberg Radio and Television,

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Speaker 1: and another Fed News Nathan that sent it as officially confirmed.

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Speaker 1: Lyle Brainerd as vice chair at a Central bank about

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Speaker 1: was fifty two to forty three, with most Republicans opposing

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Speaker 1: Brainerd because of her views on regulation s andp futures

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Speaker 1: are up forty two points this morning at DAL Futures

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Speaker 1: up three D eighty two and AzaC futures up a

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Speaker 1: hundred thirty three straight ahead, relateist local headlines plus a

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Speaker 1: check of sports and this is Bloomberg. Thanksperience six o

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Speaker 1: seven on Wall Street, forty degrees in Central Park, still

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Speaker 1: dealing with the closure on the East Bend, Northern State,

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Speaker 1: New York at forty A truck went into an overpass overnight.

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Speaker 1: We'll get the details on that coming up in Traffic First.

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

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Speaker 1: York and around the world. Michael, thank you very much.

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Speaker 1: Nathan mt A Chairman and CEO General Leber's as the

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Speaker 1: chronic problem of fair evasion and subways has prompted a

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Speaker 1: new initiative in New York. Liber speaking before the Association

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Speaker 1: for a Better New York's Power Breakfast, said that surging

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Speaker 1: fair evasion threatens our bottom line and also threatens our

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Speaker 1: social norms. Liber also says it causes increased crime. He

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Speaker 1: says many criminals enter the subway by not paying fairs.

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Speaker 1: New York City Mayor Eric Adams committed to releasing his

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Speaker 1: tax returns and blamed as widely reported refusal to do

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Speaker 1: so on, as he put it, the arrogance of a

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Speaker 1: reporter who asked the question earlier this month. Meanwhile, Mayor

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Speaker 1: Adams proposed a nearly one billion dollar budget, pitching a

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Speaker 1: pandemic recovery with less of the COVID stimulus funds that

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Speaker 1: padded previous spending plans. We have always known that our

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Speaker 1: city would never be defined by the tragedy. The spirit

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Speaker 1: of New York City will always prevail. Mayor Adams said

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Speaker 1: he will increase spending for the Department of Corrections and

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Speaker 1: the New York Police Department. House Republican Leader Kevin McCarthy

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Speaker 1: will be asked to reconsider his refusal to testify to

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Speaker 1: the Congressional committee investigating the January six the riot at

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Speaker 1: the US Capitol. That renewal comes nearly a week after

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Speaker 1: Elite audio revealed that McCarthy considered urging then President Donald

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Speaker 1: Trump to resign, and after the riot, McCarthy can be

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Speaker 1: heard telling his Republican colleagues to stop attacking other House

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Speaker 1: members by name, attention is too high, the country is

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Speaker 1: too crazy. I didn't want to look back and think

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Speaker 1: we cause something or we missed something and someone got hurt. Um.

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Speaker 1: I don't want to play politics. Of the audio tapes

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Speaker 1: released by the New York Times and we're recorded in

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Speaker 1: the days after the attack on the Capitol. Space X

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Speaker 1: crew Forward launched from the Florida Kennedy Space Center this

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Speaker 1: morning and lift off, Go Falcon. But freedom rank got

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Speaker 1: the crew, NASA says. The four crew members are heading

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Speaker 1: to the International Space Station. Global News twenty four hours

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Speaker 1: a day on air and on Bloomberg Quicktake, powered by

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Speaker 1: more than twenty seven journalist and analyst more than a

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Speaker 1: hundred twenty countries. I'm Michael Barr, and this is Bloomberg Nather.

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Speaker 1: Thank you, Michael. Six o nine on Wall Street time

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Speaker 1: for the Bloomberg Sports Update with John's tessha Bank state

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Speaker 1: that it was late in the baseball off season of

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Speaker 1: the Yankees cut the deal to bring back Anthony Rizzo.

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Speaker 1: Happy they did. Rizzo with eight home runs leads the majors.

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Speaker 1: His first career three home run game at the stadium,

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Speaker 1: three run homer in the third and ain't two run

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Speaker 1: shot in the fifth. Solo blast in the aid. The

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Speaker 1: Yankees met the Orioles twelve to eid. Aaron Judge also

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Speaker 1: homer Joey gallow with his first of the season three

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Speaker 1: run triple for Glaver Torres, and the Yanks have won

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Speaker 1: four in a row. They scored twenty two runs in

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Speaker 1: their last two games. The Mets keep winning without standing Vitchi,

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Speaker 1: this time Chris Bassett three nothing met win in St. Louis.

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Speaker 1: Cardinals had just three hits in the Metro fourteen and

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Speaker 1: five go for the sweet this afternoon. The Rangers will

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Speaker 1: not be hoisting a Metropolitan Division championship banner at the Garden.

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Speaker 1: Carolina held on to win four three to Clint for

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Speaker 1: The Rangers will finish in second place. Will play either

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Speaker 1: Pittsburgh or Washington next week. At the start of the

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Speaker 1: scam with cut playoffs NBA Playoffs, three wins by the

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Speaker 1: home team's Miami he to finish the series with Atlanta,

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Speaker 1: Phoenix peat New Orleans, and Memphis came from the way

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Speaker 1: back beat Minnesota on a John Moran lay up with

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Speaker 1: a second ago. The Sons and Rizzards have three two seriously.

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Speaker 1: NFL Draft starts tomorrow. The Giants picked fifth and seventh.

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Speaker 1: It would be a shock if the new GM Joe

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Speaker 1: Shane did not with one of the two picks. Take

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Speaker 1: an offensive line. If you want to build it up

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Speaker 1: both sides of the ball, build it up front, you know,

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Speaker 1: offensive line. You know, that's that's very important. You know,

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Speaker 1: to get our best version of say Kwan Daniel entire offense.

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Speaker 1: That's your point. That's gonna be very important, you know,

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Speaker 1: to get that right, whether it's running the ball or

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Speaker 1: pass protection. So um that that will definitely be a

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Speaker 1: priority in the Jacks in the first round pick fourth

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Speaker 1: and ten, Johns Dash Award Bloomberg's fourth Okay, John, thank

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Speaker 1: you right now. SMP futures are higher by forty three

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Speaker 1: two point five seven percent, Just ahead Elon Musk's billion

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Speaker 1: Quick Take with Bloomberg Quick Takes Alex Webb just ahead

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Speaker 1: Bloomberg eleven three oh weather mix of sun in clouds

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Speaker 1: breezy today with a hin your fifty five, mid fifties,

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Speaker 1: mostly sunny, breezy. Tomorrow will be near sixty lots of

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Speaker 1: Friday sunshine right now forty degrees. Markets headlines and breaking

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Speaker 1: news twenty four hours a day at Bloomberg dot Com,

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Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape. He's

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Speaker 1: a Bloomberg Business Flash and I'm Karen Moscow. And stocks

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Speaker 1: putting their faith in the power of earnings to keep

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Speaker 1: global equities aloft. Check the markets every fifteen minutes throughout

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Speaker 1: the trading day on Bloomberg with SNP futures up about

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Speaker 1: forty two points, Dow futures up three hundred seventy seven

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Speaker 1: NASDACK futures have one hundred thirty one the day. In

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Speaker 1: Germany's up half percent ten, Your treasury down thirteen thirty seconds.

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Speaker 1: He had two point seven seven percent. They yield on

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Speaker 1: cents at a hundred two dollars forty nine cents of

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Speaker 1: at eighteen ninety six ten announce the Euro one point

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Speaker 1: point nine to bitcoin this morning, up two point four percent.

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Speaker 1: It's at thirty nine thousand, twenty five dollars. That's a

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

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

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Speaker 1: very much. Russia has opened a new front, and it's

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Speaker 1: Harris has tested positive for COVID. Harris's office says after

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Speaker 1: consulting with doctors, she is now taking Fiser's anti viral

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Speaker 1: pill PLAQUESOVIT. In baseball, the Yankees beat the Orioles twelve three,

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Speaker 1: the Mets one, the Nationals and Red Sox lost. The

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Speaker 1: the Bruins one, clinching a playoff. Spot Global News twenty

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Speaker 1: four hours a day on air and on Bloomberg Quick Take,

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Speaker 1: powered by more than journalists and analyst more than a

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Speaker 1: hundred twenty countries. I'm Michael Barn. This is Bloomberg. This

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Speaker 1: is the Big Take, the best of Bloomberg's in depth

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Speaker 1: original reporting from around the globe. This is a really

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Speaker 1: fast moving story that's caused a lot of outrage among investors.

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Speaker 1: This is so fascinating, a market shutdown in a way

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Speaker 1: it's never done before. That's gonna have consequences for years

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Speaker 1: to come. The Big Take on Bloomberg Radio, coming up

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Speaker 1: to six twenty on Wall Street Life in the Bloomberg

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Speaker 1: Interacting Brooker Studios. This is Bloomberg Daybreak in our Big

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Speaker 1: Take this morning is on Elon Musk's huge bid for Twitter,

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Speaker 1: the forty four billion dollar leveraged buyout, and maybe about

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Speaker 1: more than simply owning a piece of social media it

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Speaker 1: could chart the course for the future of free speech.

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Speaker 1: For more on this, Alex Webb is back with us

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Speaker 1: Bloomberg Quick Take correspondent and tech columnists for Bloomberg Opinion.

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Speaker 1: Alex are good to have you back on. And this

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Speaker 1: really comes down to what's been sort of the long

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Speaker 1: speech very you know, government versus private sector, and now

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Speaker 1: Elon Musk is right in the middle of it. It's

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Speaker 1: always been a puzzling thing, this sort of obsession with

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Speaker 1: in an heavily inverted commas commas censorship that uh, this

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Speaker 1: outcry whenever a Facebook or Twitter or another social media

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Speaker 1: society is in favor of retaining. But it was private

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Speaker 1: companies have no obligations as far as free speech is concerned.

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Speaker 1: They have more obligations in terms of protecting um their

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Speaker 1: that governments have an obligation towards. They commit to that

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Speaker 1: governments were not intervene and prevent free speech, but companies

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Speaker 1: question of when Elon Musk or if Elon Musk of

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Speaker 1: the deal goes through, does take over Twitter, what the

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Speaker 1: content moderation is going to look like. And at least

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Speaker 1: at this point, what Elon Musk is saying is that,

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Speaker 1: content moderation as far as it can go under current law.

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Speaker 1: And I mean clearly he is making steps towards his

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Speaker 1: vision of free speech absolutism, and that is likely to

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Speaker 1: include reopening the door to Donald Trump and others to

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Speaker 1: have you accounts on the platform again. But the that

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Speaker 1: is something that seems to have ingratiated him Elon Musk,

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Speaker 1: that is to you know, particularly people on Fox News

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Speaker 1: and and and others in the Trump Um sort of ecosystem.

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Speaker 1: Typer Carlson has been outspoken at his support of of Elon,

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Speaker 1: so as Josh Hawley, the Republican Senator from Assouri. There's

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Speaker 1: a lot of stuff happening right now which Elon Mice

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Speaker 1: might be laughing up. But there are limits because there

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Speaker 1: is still regulation, particularly in Europe, in the works which

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Speaker 1: will make it clear what sort of content you can

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Speaker 1: and cannot permits, what is illegal content to host on

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Speaker 1: European regulators come down hard on Twitter, depending on what

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Speaker 1: Elon Musk decides to do, what would the response be.

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Speaker 1: Does Twitter become more of a national platform in the US.

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Speaker 1: It seems highly unlikely. You know, Twitter is a company

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Speaker 1: that cannot really afford to lose users in any meaningful way.

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Speaker 1: It's got something like a hundred and eighty million daily

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Speaker 1: average users. That is, of the daily average users and

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Speaker 1: meta platforms hows across Facebook, Instagram, What's Happened and and

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Speaker 1: the Blue app Europe is clearly quite a big part

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Speaker 1: of that user based on on on Twitter. The bigger

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Speaker 1: challenge it's going to have is can is afford to

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Speaker 1: moderate content in the way that Facebook can? You know Facebook, Well,

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Speaker 1: this year Twitter has negative free cash flow. Uh sorry,

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Speaker 1: in the most recent year could have negative free cash flow.

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Speaker 1: Is this year is expected to have three million dollars

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Speaker 1: of free cash flow. Now it's compared after Facebook, which

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Speaker 1: throws off tens of billions of dollars in cash each year.

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Speaker 1: Twenty five billion is what is expected to generate in cash.

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Speaker 1: That's even with accelerated spending on things like the metaverse.

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Speaker 1: So it's quite easy for Facebook just to throw more

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Speaker 1: humans at the problem and add more moderators if it's

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Speaker 1: required to buy legislative changes in Europe and elsewhere. Not

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Speaker 1: less than a minute left here. But when you think

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Speaker 1: about the idea of losing users depending on where things go,

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Speaker 1: is there a risk that if there's less content moderation,

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Speaker 1: that the Twitter losers users anyway from people who are

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Speaker 1: upset about the potential changes. Absolutely, that is a distinct risk.

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Speaker 1: We've seen small things around the edges, but we've seen

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Speaker 1: also the gradual decline of Facebook's Facebook has become more

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Speaker 1: sort of less agreeable a place to exist. The engagement

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Speaker 1: has massively dropped off, and so Twitter, with even a

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Speaker 1: fewer users, that would be a major risk if he

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Speaker 1: gets it wrong. All right, Alex Webb as always great

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Speaker 1: getting your thoughts, Alex web Bloomberg Quick Take correspondent, tech

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Speaker 1: calumnist for Bloomberg Opinion. You can read much more in

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Speaker 1: the Big Take story this morning and all our big

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Speaker 1: takes and I Big Take go on the Bloomberg terminal

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Speaker 1: and Bloomberg dot com slash Big Take SFP futures right

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Speaker 1: now up forty points staff futures of three seventy eight

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Speaker 1: Nasdaq futures up a hundred twenty six points. Take your

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Speaker 1: Treasury right now is down fourteen thirty seconds. The yield

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Speaker 1: two point seven seven percent. Yield on the two year

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Speaker 1: two point five seven percent. N i'm x screwed up

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Speaker 1: six tenths per cent, or fifty nine cents a hundred

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Speaker 1: two dollars twenty nine cents for a barrel of West

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Speaker 1: Tech The Center Media. Much more to come. This is

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Speaker 1: Bloomberg Blomber eleven three oh weather. Mix of sun and

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Speaker 1: clouds today, breezy, high in your mid fifty five degrees,

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Speaker 1: will be in the mid fifties tomorrow with mostly sunny

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Speaker 1: skies and sunshine upper fifties for Friday, currently forty eight degrees.

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Speaker 1: Broadcasting live from the Bloomberg the Interactive Broker Studio in

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Speaker 1: New York, Bloomberg E Living Freedom to Washington, d C,

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Speaker 1: Bloomberg one to Boston, Bloomberg one O six one to

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Speaker 1: San Francisco, Bloomberg N sixty to the Country, Sirius XM

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Speaker 1: to A one nineteen and around the globe the Bloomberg

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

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Speaker 1: Daybreak six thirty on Wall Street. Good morning, I'm Nathan

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Speaker 1: Hagart and I'm Karen Moscow, and we are just about

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

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Speaker 1: for the five things you need to notice. Arn't your

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Speaker 1: day to you by Interactive Brokers Global Analysts. It helps

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Speaker 1: you find you global investment opportunities. Should diversify your portfolio

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Speaker 1: and discover undervalued companies that may have greater growth potential.

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Speaker 1: Try i VC our Global Analysts today at i v

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Speaker 1: k R dot com, slash g A and up first

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Speaker 1: today shares of Global parent Alphabet. They are down three

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Speaker 1: and a third percent this morning after yesterday's first quarter earning.

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Speaker 1: Smiths Man deeps sing A Bloomberg Intelligent points to slower

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Speaker 1: AD sales and a weak performance by YouTube. The search

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Speaker 1: business continues to outperform here and that reflects in both

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Speaker 1: their courserch and the Google network segment. What has missed

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Speaker 1: is the YouTube segment as well as the Google other

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Speaker 1: where you have the app store revenue. So those were

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Speaker 1: the two that miss a Man Deep sing A Bloomberg Intelligence.

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Speaker 1: That's who's speaking. Meanwhile, quarterly sales and earnings for Microsoft

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Speaker 1: top to analyst projections yesterday Microsoft is up more than

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Speaker 1: five percent ahead of the bell well later today, Karen,

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Speaker 1: Facebook parent company at a report s Bloomberg Intelligence says,

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Speaker 1: in your term, revenue growth could come in at the

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Speaker 1: low end of expectations. On Wall Street at the SNPN

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Speaker 1: Nastacs slumped yesterday as stocks to begin the day had

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Speaker 1: a six week low. Elon Muska is feeling the effects

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Speaker 1: of yesterday's sell off. Karen, we get more on that

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Speaker 1: live from Bloomberg's RNDA Young Good Morning, Granida, Good Morning Nathan.

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Speaker 1: Elon must steak and Tesla's tumbled by more than thirty

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Speaker 1: two billion dollars yesterday after shares plunged twelve percent, but

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Speaker 1: this kind of volatility is not new for him. Sharp

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Speaker 1: declines of periodically hit Tesla stock over the past two years,

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Speaker 1: and they've been offset by even larger gains. However, this

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Speaker 1: time more is that steaks. Since Musk is planning to

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Speaker 1: buy out Twitter for forty four billion dollars, he can

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Speaker 1: afford it based off of Tuesday's closing price, but now

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Speaker 1: there's less wiggle room and what if the deal falls through?

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Speaker 1: An SEC filing shows the deal includes a one billion

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Speaker 1: dollar breakup fee if either side backs out live in

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Speaker 1: New York. I'm Ranita Young Bloomberg Daybreak, all Right, raned

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Speaker 1: to thank you an update on COVID nineteen from the

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Speaker 1: nation's top infectious disease expert to Dr Anthony Fauction. He

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Speaker 1: tells PBS that you as is out of the pandemic

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Speaker 1: phase as hospitalizations and deaths drop overseas. European gas prices

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Speaker 1: surged to more than after Russia stopped natural gas flows

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Speaker 1: to Poland and Bulgaria. Former Ambassador to Ukraine John Herbs

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Speaker 1: tells Bloombrigs Joe Matthew it comes as Russia's struggles to

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Speaker 1: achieve its goals in Ukraine. Russia is losing I think

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Speaker 1: many smart people in Moscow understand this. I'm not sure

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Speaker 1: that Pluton understands this. Former Ambassador to Ukraine John Herb,

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Speaker 1: speaking with Joe Matthew on Bloomberg Sound on airing weekdays

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Speaker 1: at five pm Eastern on Bloomberg Radio. That's the five

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Speaker 1: things you need to know to start your day. It's

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Speaker 1: sound six thirty three on Wall Street where four U

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Speaker 1: eight degrees in Central Park. Still dealing with that accident

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Speaker 1: northbound State Thruway after exit fifteen A now Let's bring

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

431
00:23:48,680 --> 00:23:51,720
Speaker 1: New York and around the world. Good morning, Michael, Good morning, Nathan,

432
00:23:51,840 --> 00:23:55,840
Speaker 1: MTA chairman and CEO General Leber's as the chronic problem

433
00:23:55,880 --> 00:23:59,440
Speaker 1: of fair evasion and subways has prompted a new initiative

434
00:23:59,480 --> 00:24:03,000
Speaker 1: in New York. Liber speaking before the Association for a

435
00:24:03,040 --> 00:24:06,760
Speaker 1: Better New York's Power Breakfast, said that surging fair of

436
00:24:06,840 --> 00:24:10,640
Speaker 1: Asian threatens our bottom line and also threatens our social norms.

437
00:24:10,960 --> 00:24:15,600
Speaker 1: Liber also says it also causes increased crime. He says

438
00:24:15,600 --> 00:24:18,879
Speaker 1: many criminals enter the subway but not paying fairs. House

439
00:24:18,960 --> 00:24:22,040
Speaker 1: Republican leader Kevin McCarthy will be asked to reconsider his

440
00:24:22,080 --> 00:24:26,480
Speaker 1: refusal to testify to the Congressional committee investigating the January

441
00:24:26,560 --> 00:24:29,920
Speaker 1: sixth riot at the US Capitol. It comes as there

442
00:24:29,960 --> 00:24:32,960
Speaker 1: are more recordings of McCarthy four days after the riot.

443
00:24:33,359 --> 00:24:36,720
Speaker 1: Audio obtained by The New York Times show that Kevin

444
00:24:36,800 --> 00:24:40,200
Speaker 1: McCarthy is worried that some of his own colleagues, Republican

445
00:24:40,280 --> 00:24:43,920
Speaker 1: members of Congress, are fueling the violence. McCarthy called out

446
00:24:43,920 --> 00:24:50,000
Speaker 1: GOP Congressman Matt Gates, calling people names out, saying an

447
00:24:50,040 --> 00:24:55,000
Speaker 1: anti Trump in this type of atmosphere um in some

448
00:24:55,080 --> 00:24:58,000
Speaker 1: of the other places. This is this is serious people

449
00:24:58,000 --> 00:25:01,359
Speaker 1: are doing that has to stop. McCarthy says he called

450
00:25:01,400 --> 00:25:04,400
Speaker 1: Gates to tell him to knock off the incendiary rhetoric.

451
00:25:04,880 --> 00:25:08,320
Speaker 1: Vice President Kamala Harris has tested positive for COVID nineteen.

452
00:25:08,640 --> 00:25:11,320
Speaker 1: The White House says neither President Joe Biden nor First

453
00:25:11,400 --> 00:25:15,080
Speaker 1: Lady Jill Biden we're considered a close contact of Harris.

454
00:25:15,080 --> 00:25:18,920
Speaker 1: In recent days, a new survey shows it's getting even

455
00:25:19,040 --> 00:25:23,119
Speaker 1: harder for many Americans to achieve a living wage. According

456
00:25:23,119 --> 00:25:26,760
Speaker 1: to the latest County Health rankings, women, particularly those of color,

457
00:25:27,040 --> 00:25:30,399
Speaker 1: earned eighties cents or less on average for every dollar

458
00:25:30,440 --> 00:25:34,639
Speaker 1: men earned. CO director Dr Sherry Johnson says child care

459
00:25:34,760 --> 00:25:37,840
Speaker 1: costs are among the challenges that keep many families from

460
00:25:37,840 --> 00:25:42,240
Speaker 1: getting ahead. On average, a family with two children is

461
00:25:42,280 --> 00:25:46,880
Speaker 1: paying about twenty five of their income on childcare expenses.

462
00:25:47,400 --> 00:25:51,960
Speaker 1: The federal government recommends that people spend seven of their

463
00:25:52,000 --> 00:25:55,600
Speaker 1: total income on childcare. Dr Johnson wrote in the latest

464
00:25:55,600 --> 00:25:59,840
Speaker 1: study title Troubling Issues, teachers average salaries have dropped to

465
00:25:59,840 --> 00:26:02,560
Speaker 1: the lowest in at least a decade. According to the

466
00:26:02,680 --> 00:26:06,919
Speaker 1: National Education Association, starting salary for teachers in the US

467
00:26:07,000 --> 00:26:12,080
Speaker 1: average forty seven hundred seventy dollars for one school year,

468
00:26:12,400 --> 00:26:15,560
Speaker 1: as a four percent decrease from the prior year. Global

469
00:26:15,600 --> 00:26:17,840
Speaker 1: Needs twenty four hours a day on air and on

470
00:26:17,840 --> 00:26:20,959
Speaker 1: Bloomberg Quicktake, powered by more than twenty seven hundred journalists

471
00:26:20,960 --> 00:26:23,000
Speaker 1: analysts more than a hundred twenty countries. On Michael bar

472
00:26:23,119 --> 00:26:30,399
Speaker 1: This is Bloomberg, Nathan, thanks Michael. Just about six thirty

473
00:26:30,400 --> 00:26:32,600
Speaker 1: six On Wall Street, John stash Our has a Bloomberg

474
00:26:32,640 --> 00:26:35,119
Speaker 1: Sports update. All right, Nathan, another win to continue this

475
00:26:35,160 --> 00:26:37,280
Speaker 1: hot start to the Mets season. Not quite the drama

476
00:26:37,320 --> 00:26:39,320
Speaker 1: of Monday night in St. Louis when we scored five

477
00:26:39,400 --> 00:26:40,960
Speaker 1: runs with two outs in the ninth Tenny, and this

478
00:26:41,040 --> 00:26:43,960
Speaker 1: one more routine, three nothing over the Cardinals. Chris Bassett

479
00:26:44,000 --> 00:26:45,879
Speaker 1: with his third win, team but three relievers on a

480
00:26:45,960 --> 00:26:49,240
Speaker 1: three head shutouts, and Mets now fourteen and five win

481
00:26:49,440 --> 00:26:51,879
Speaker 1: or lose. This afternoon, the Mets have already won the series,

482
00:26:51,880 --> 00:26:55,080
Speaker 1: and they start the season by winning all six series

483
00:26:55,119 --> 00:26:58,399
Speaker 1: they've played. That's only happened once before in franchise history.

484
00:26:58,440 --> 00:27:01,480
Speaker 1: The Stadium Yankees beat the Orioles twelve to eight. Five

485
00:27:01,560 --> 00:27:04,119
Speaker 1: Yankee home runs, three by Anthony Rizzo, who leads the

486
00:27:04,119 --> 00:27:07,120
Speaker 1: Majors with eight captors. First career three home run game

487
00:27:07,160 --> 00:27:08,920
Speaker 1: going back to back with Aaron Judge in the eighth

488
00:27:09,000 --> 00:27:11,640
Speaker 1: named Joey Gallo at his first of the season, Labor

489
00:27:11,680 --> 00:27:14,600
Speaker 1: torres a three run triple four straight win for the Yanks,

490
00:27:14,880 --> 00:27:17,639
Speaker 1: twenty two runs scored in the last two games. The

491
00:27:17,680 --> 00:27:21,960
Speaker 1: manager is Aaron Boone making some better swing decisions. Um,

492
00:27:22,000 --> 00:27:26,080
Speaker 1: you know, guys settling in a little bit and uh,

493
00:27:26,280 --> 00:27:31,000
Speaker 1: you know, not always chasing that result, chasing win the pitch.

494
00:27:31,200 --> 00:27:34,680
Speaker 1: Have a good at that, you know. Um, And we're

495
00:27:34,720 --> 00:27:36,840
Speaker 1: seeing that more down earlier in the day. Something the

496
00:27:36,880 --> 00:27:39,520
Speaker 1: Yankees fought against the release of a letter sent by

497
00:27:39,640 --> 00:27:43,720
Speaker 1: MLB regarding stealing signs back in two thousand, fifteen and sixteen.

498
00:27:43,800 --> 00:27:46,600
Speaker 1: MLB found then the Yanks illegally made phone calls from

499
00:27:46,600 --> 00:27:49,560
Speaker 1: the video room to the dugout. It did not, as

500
00:27:49,600 --> 00:27:52,480
Speaker 1: had been alleged, used Net network cameras, and it was

501
00:27:52,520 --> 00:27:55,240
Speaker 1: not done in real time like the Astros scandals of

502
00:27:55,240 --> 00:27:57,080
Speaker 1: the penalty a hundred thousand dollar find, nothing like what

503
00:27:57,119 --> 00:28:00,000
Speaker 1: the Astros guy at the Garden, Carolina clints. The division

504
00:28:00,080 --> 00:28:01,920
Speaker 1: title will be the Rangers four to three. Chris Crider

505
00:28:01,960 --> 00:28:05,040
Speaker 1: and the losses, fifty second goal NBA playoff home wins

506
00:28:05,400 --> 00:28:10,680
Speaker 1: from Miami Memphis and Penicks. John shoots okay, John, Thanks

507
00:28:10,720 --> 00:28:12,760
Speaker 1: sixty seven on Wall Street. Time to take a look

508
00:28:12,800 --> 00:28:14,479
Speaker 1: at stock, some of the names moving in the pre

509
00:28:14,600 --> 00:28:17,880
Speaker 1: market with Bloomberg Radio and TV Markets correspondent Creaty Gufta.

510
00:28:18,080 --> 00:28:20,879
Speaker 1: A lot of big news moves Creaty for Big Tech

511
00:28:21,160 --> 00:28:24,680
Speaker 1: after earnings. Yeah, huge moves. Remember this was supposed to

512
00:28:24,720 --> 00:28:27,080
Speaker 1: be the week where tech earnings were going to essentially

513
00:28:27,480 --> 00:28:30,320
Speaker 1: make or break the entire index, and you kind of

514
00:28:30,359 --> 00:28:32,399
Speaker 1: some to some extent, saw that. And yesterday's session the

515
00:28:32,480 --> 00:28:36,400
Speaker 1: SPI closing down about two point eight percent. I wonder

516
00:28:36,480 --> 00:28:38,680
Speaker 1: how much of that they were pricing in these earnings.

517
00:28:38,680 --> 00:28:41,080
Speaker 1: And here's why I'm looking at Microsoft shares this morning.

518
00:28:41,280 --> 00:28:43,600
Speaker 1: M s f t s your taker up about five

519
00:28:43,640 --> 00:28:45,560
Speaker 1: percent in the pre market. And of course we know

520
00:28:45,600 --> 00:28:48,200
Speaker 1: that this comes after they reported earnings, but they were

521
00:28:48,240 --> 00:28:51,000
Speaker 1: talking about some of that growth that you're seeing in

522
00:28:51,000 --> 00:28:55,000
Speaker 1: their cloud services product, you believe growth, some analysts saying

523
00:28:55,000 --> 00:28:58,480
Speaker 1: they were expecting more because if you're posting growth for

524
00:28:58,600 --> 00:29:01,560
Speaker 1: two quarters in a row, that doesn't exactly show that

525
00:29:01,600 --> 00:29:03,800
Speaker 1: you're growing at a faster place. It also doesn't show

526
00:29:03,960 --> 00:29:05,600
Speaker 1: that you're growing at a slower pace, so there was

527
00:29:05,640 --> 00:29:08,480
Speaker 1: some questions about how long they can sustain that growth,

528
00:29:08,520 --> 00:29:11,720
Speaker 1: especially because it's not moving faster and faster. This morning though,

529
00:29:12,000 --> 00:29:14,520
Speaker 1: up five percent, so not too shabby, Nathan. But I

530
00:29:14,520 --> 00:29:16,840
Speaker 1: do also want to hit Alphabet. G O O G

531
00:29:17,160 --> 00:29:19,760
Speaker 1: is your taker for I believe the Class A shares,

532
00:29:20,080 --> 00:29:22,200
Speaker 1: maybe the Class C shares g O O g L

533
00:29:22,520 --> 00:29:26,240
Speaker 1: for Class A shares. Low shares actually down three point

534
00:29:26,400 --> 00:29:28,920
Speaker 1: four percent. It tells you a lot here about what

535
00:29:28,960 --> 00:29:31,440
Speaker 1: you're actually watching from Alphabet. Remember they came out they

536
00:29:31,480 --> 00:29:33,920
Speaker 1: talked about their earnings picture, but they also talked about

537
00:29:34,000 --> 00:29:37,040
Speaker 1: week ad spent in Europe. Nathan, This makes sense, right.

538
00:29:37,080 --> 00:29:40,360
Speaker 1: We're talking about potential recession in Europe, which means a

539
00:29:40,400 --> 00:29:42,400
Speaker 1: lot of businesses are gonna saying, well, if we're concerned

540
00:29:42,400 --> 00:29:45,280
Speaker 1: about staying afloat, we're not exactly going to be spending

541
00:29:45,280 --> 00:29:47,200
Speaker 1: on marketing. That's one of the first thing that goes

542
00:29:47,480 --> 00:29:50,680
Speaker 1: They're also talking about YouTube being hit by the TikTok rivalry. Nathan,

543
00:29:50,720 --> 00:29:52,640
Speaker 1: are you a TikTok kind of guy? No, I have

544
00:29:52,720 --> 00:29:55,520
Speaker 1: not used TikTok. I get a little bit of it

545
00:29:56,080 --> 00:29:59,920
Speaker 1: from my kids, but I have no kids to educate me, Nathan,

546
00:30:00,240 --> 00:30:03,520
Speaker 1: and I have no excuse. Um as most people tend

547
00:30:03,560 --> 00:30:05,760
Speaker 1: to point. You got to get on that. I also

548
00:30:05,800 --> 00:30:09,120
Speaker 1: heard it was addicting, so there's something to TikTok. But anyways,

549
00:30:09,160 --> 00:30:11,479
Speaker 1: we got to talk about simply how much it's hitting YouTube, right,

550
00:30:11,480 --> 00:30:13,760
Speaker 1: how many people go on YouTube to watch full, say

551
00:30:13,800 --> 00:30:16,040
Speaker 1: ten minute videos as opposed to going to TikTok. So

552
00:30:16,480 --> 00:30:19,240
Speaker 1: Alphabet really talking about that pain as well, Nathan, Yeah,

553
00:30:19,240 --> 00:30:22,040
Speaker 1: it can be addictive just going through the scroll. Let's

554
00:30:22,040 --> 00:30:25,760
Speaker 1: look at the energy, especially with Russia now cutting off

555
00:30:26,160 --> 00:30:29,520
Speaker 1: Poland and Bulgaria. What's that doing to energy stocks? Well,

556
00:30:29,520 --> 00:30:31,400
Speaker 1: EQUT is the one that I really like to look at.

557
00:30:31,440 --> 00:30:33,240
Speaker 1: Here for the pre market in the United States, this

558
00:30:33,320 --> 00:30:36,240
Speaker 1: is the largest natural gas producer in the US, up

559
00:30:36,280 --> 00:30:38,480
Speaker 1: about three percent. Remember the United States does produce a

560
00:30:38,520 --> 00:30:40,920
Speaker 1: lot of natural gas, doesn't export a lot of natural gas.

561
00:30:40,920 --> 00:30:43,200
Speaker 1: So as we talk about can the US make up

562
00:30:43,280 --> 00:30:47,440
Speaker 1: some of that removed dependence on Russia, equt our shares

563
00:30:47,480 --> 00:30:49,600
Speaker 1: that you want to watch right now up about three

564
00:30:49,600 --> 00:30:51,480
Speaker 1: percent in the pre market. Nathan, all right, we'll be

565
00:30:51,480 --> 00:30:54,360
Speaker 1: watching those as well. Bloomberg Radio TV Markets correspondent Created

566
00:30:54,400 --> 00:30:56,840
Speaker 1: Gupta looking at stocks as a whole, they are moving

567
00:30:56,920 --> 00:31:00,120
Speaker 1: higher after the plunge yesterday. We have S and P

568
00:31:00,320 --> 00:31:03,120
Speaker 1: futures up forty point, Staff futures up here seventy nine,

569
00:31:03,200 --> 00:31:05,920
Speaker 1: NASTAC futures up a hundred twenty seven points, so making

570
00:31:05,960 --> 00:31:08,640
Speaker 1: back some of those losses to in your treasury is

571
00:31:08,680 --> 00:31:11,880
Speaker 1: down twelve thirty seconds. The yield two point seven six

572
00:31:11,960 --> 00:31:14,480
Speaker 1: percent in the yield on the two year two five five.

573
00:31:14,560 --> 00:31:23,440
Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three O. Weather

574
00:31:23,520 --> 00:31:26,320
Speaker 1: mix of sun in clouds, breezy today, mid fifties. We'll

575
00:31:26,320 --> 00:31:29,479
Speaker 1: get near fifty five tomorrow as well, with a breeze, sunny,

576
00:31:29,560 --> 00:31:33,080
Speaker 1: upper fifties, maybe sixty by Friday. Right now forty eight

577
00:31:33,160 --> 00:31:40,000
Speaker 1: in Central Park Markets. Headlines and breaking news twenty four

578
00:31:40,000 --> 00:31:43,080
Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business

579
00:31:43,080 --> 00:31:46,760
Speaker 1: at and at Bloomberg Quick Tape. He's a Bloomberg Business

580
00:31:46,760 --> 00:31:56,240
Speaker 1: Flash and I'm Karen Moscow. Futures are higher this morning,

581
00:31:56,240 --> 00:31:58,080
Speaker 1: we get to the first word breaking news desk for

582
00:31:58,120 --> 00:32:02,040
Speaker 1: today's morning call. Here's Bill Malow the build. Good morning, Hey,

583
00:32:02,040 --> 00:32:04,840
Speaker 1: good morning, can that's right. US futures are bouncing after

584
00:32:05,000 --> 00:32:08,600
Speaker 1: yesterday's plunge, without futures of three thirty four points, sesames

585
00:32:08,640 --> 00:32:11,280
Speaker 1: gained thirty five one. Nastack futures are higher by a

586
00:32:11,360 --> 00:32:14,000
Speaker 1: hundred and four the US ten year old at two

587
00:32:14,080 --> 00:32:17,160
Speaker 1: point seven seven percent, Gold is down nine, oil is

588
00:32:17,200 --> 00:32:19,440
Speaker 1: in the green, and bitcoin is hired by two and

589
00:32:19,440 --> 00:32:22,600
Speaker 1: a half percent. Japan dropped one point two percent overnight,

590
00:32:22,600 --> 00:32:25,320
Speaker 1: while UPM markets are also in the green this morning

591
00:32:25,640 --> 00:32:28,000
Speaker 1: and back in the US on the economic funday thirty

592
00:32:28,000 --> 00:32:31,680
Speaker 1: wholesale inmitories at at ten o'clock pending home sales after

593
00:32:31,680 --> 00:32:34,960
Speaker 1: the Belas night, GM profit topped estimates, Alphabet revenue missed

594
00:32:35,040 --> 00:32:39,560
Speaker 1: estimates on YouTube and European ads, and Microsoft reported shares

595
00:32:39,600 --> 00:32:42,440
Speaker 1: her up five per cent in the pre market. In

596
00:32:42,600 --> 00:32:45,479
Speaker 1: deal news, people familiar said that Mattel held talks with

597
00:32:45,520 --> 00:32:48,840
Speaker 1: buyout firms and wrapping things up. Avery Dennison was raised

598
00:32:48,840 --> 00:32:51,840
Speaker 1: to overweight at JP. Morgan Halbert raised to buy over

599
00:32:51,880 --> 00:32:55,520
Speaker 1: at hs VC. Live from the first breaking news astom

600
00:32:55,600 --> 00:32:57,720
Speaker 1: Bill Maloney, Karen A right, Bill, thank you, and to

601
00:32:57,760 --> 00:33:00,040
Speaker 1: hear live breaking news of your Bloomberg time squalk in

602
00:33:00,080 --> 00:33:03,200
Speaker 1: your terminal squ a W k that's a Bloomberg Business

603
00:33:03,200 --> 00:33:05,600
Speaker 1: Flash show. Here's Michael Barrow with more on what's going

604
00:33:05,640 --> 00:33:08,360
Speaker 1: on around the world. Michael Darren, thank you very much.

605
00:33:08,440 --> 00:33:12,280
Speaker 1: Russia's gas from says has halted gas flows to Poland

606
00:33:12,320 --> 00:33:15,600
Speaker 1: and Bulgaria. Russia says it will keep the supplies turned

607
00:33:15,640 --> 00:33:18,520
Speaker 1: off until the two countries agreed to Moscow's demand to

608
00:33:18,600 --> 00:33:22,480
Speaker 1: pay for the fuel. In roubles, Vice President Kamala Harris

609
00:33:22,480 --> 00:33:25,640
Speaker 1: has tested positive for COVID. Health experts say more than

610
00:33:25,680 --> 00:33:27,719
Speaker 1: a half the country has had the virus at some

611
00:33:27,800 --> 00:33:31,240
Speaker 1: point in the last two years. In MLB, the Yankees

612
00:33:31,280 --> 00:33:34,880
Speaker 1: beat the Orioles twelve three. Also in baseball, the Mets one,

613
00:33:35,240 --> 00:33:37,800
Speaker 1: the Nationals and Red Sox lost. The Giants beat the

614
00:33:37,840 --> 00:33:40,920
Speaker 1: A's a two. In the NHL, the Rangers lost to

615
00:33:40,920 --> 00:33:45,360
Speaker 1: the Hurricanes. Carolina clinched the Metropolitan Division. The Islanders beat

616
00:33:45,400 --> 00:33:48,160
Speaker 1: the Capitals for one. The Devil's lost the Bruins one,

617
00:33:48,240 --> 00:33:51,920
Speaker 1: clinching a playoff. Spot Global News twenty four hours a

618
00:33:52,000 --> 00:33:54,760
Speaker 1: day on air and on Bloomberg Quick Take, powered by

619
00:33:54,760 --> 00:33:58,320
Speaker 1: more than twenty seven hundred journalists analysts more than twenty countries.

620
00:33:58,720 --> 00:34:01,959
Speaker 1: Michael barn this is bloom caeron Ry michaelbar thank you

621
00:34:01,960 --> 00:34:04,000
Speaker 1: at at sixty nine on Wall Street and we turn

622
00:34:04,040 --> 00:34:06,920
Speaker 1: to news and science and technology now. But the Bloomberg

623
00:34:06,960 --> 00:34:09,200
Speaker 1: and j I T STEM report it has brought to

624
00:34:09,280 --> 00:34:12,320
Speaker 1: you buy New Jersey Institute of Technology and j I

625
00:34:12,400 --> 00:34:15,920
Speaker 1: T offers New Jersey's first undergraduate degree in fintech tech

626
00:34:16,000 --> 00:34:18,279
Speaker 1: driven a finance focus. To learn more at n j

627
00:34:18,440 --> 00:34:21,239
Speaker 1: I T dot E d U slash Fintech Now. Here's

628
00:34:21,280 --> 00:34:24,960
Speaker 1: just making news and science, Technology, engineering and map. Norway

629
00:34:25,160 --> 00:34:28,720
Speaker 1: is tops when it comes to normalizing life alongside the coronavirus,

630
00:34:28,760 --> 00:34:31,880
Speaker 1: while Hong Kong and mainland China are among the worst.

631
00:34:32,120 --> 00:34:35,120
Speaker 1: That's according to the Bloomberg COVID resilience ranking for April.

632
00:34:35,400 --> 00:34:37,880
Speaker 1: Norway is followed by Ireland and the U a E.

633
00:34:38,080 --> 00:34:40,960
Speaker 1: For places where the pandemic is being handled best. The

634
00:34:41,040 --> 00:34:44,160
Speaker 1: US fell six spots and number twenty three. The UK

635
00:34:44,480 --> 00:34:47,120
Speaker 1: is down two spots to number twelve, both due to

636
00:34:47,160 --> 00:34:50,560
Speaker 1: the number of fatalities. And China, there are signs that

637
00:34:50,600 --> 00:34:54,400
Speaker 1: authorities are starting to bring two major coronavirus outbreaks under control.

638
00:34:54,680 --> 00:34:57,600
Speaker 1: Shanghai is hinted that lockdown measures may be eased as

639
00:34:57,600 --> 00:35:00,279
Speaker 1: infections dropped to a three week low, and May Jung

640
00:35:00,320 --> 00:35:04,840
Speaker 1: the number of cases has stabilized and finally Falcon but

641
00:35:05,000 --> 00:35:10,719
Speaker 1: Freedom Brian got Fred. Crew four SpaceX launched four astronauts

642
00:35:10,760 --> 00:35:14,080
Speaker 1: to the International Space Station for a NASA earlier this morning,

643
00:35:14,160 --> 00:35:17,839
Speaker 1: less than two days after completing a flight chartered by millionaires.

644
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Speaker 1: It's the first NASA crew comprised equally of men and women.

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00:35:21,880 --> 00:35:24,120
Speaker 1: The astronauts were due to arrive at the space station

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00:35:24,280 --> 00:35:27,279
Speaker 1: Wednesday night, sixteen hours after their pre dawn liftoff from

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Speaker 1: Kennedy Space Center. They'll spend five months at the orbiting lab.

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Speaker 1: And that's a Bloomberg and j I t Stem report. Nathan.

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Speaker 1: Always so cool to see those pre dawn launches. Thank you, Karen.

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Speaker 1: We are live from the Bloomberg Interactive Brokers studios where

651
00:35:40,360 --> 00:35:42,640
Speaker 1: it's almost six fifty one on Wall Street time now

652
00:35:42,680 --> 00:35:44,520
Speaker 1: to check what's going on in d C. Some of

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00:35:44,520 --> 00:35:47,280
Speaker 1: the tough stories in our nation's capital include Vice President

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00:35:47,320 --> 00:35:50,440
Speaker 1: Kamala Harris resting and taking paxsl of it after a

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00:35:50,480 --> 00:35:53,600
Speaker 1: COVID positive test, House leader Kevin McCarthy to be asked

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00:35:53,640 --> 00:35:57,239
Speaker 1: again to go before the January sixth committee, and Lyle

657
00:35:57,320 --> 00:36:00,960
Speaker 1: Brainerd confirmed as Fed Vice Chair while other cominies have

658
00:36:01,120 --> 00:36:04,279
Speaker 1: to wait. Bloomber Government reporter Emily Wilkins has more on

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00:36:04,320 --> 00:36:07,160
Speaker 1: all these stories. Joined US Live from Washington, d C. Emily,

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00:36:07,360 --> 00:36:11,839
Speaker 1: Good morning. This COVID diagnosis for Vice President Harris, while

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00:36:11,920 --> 00:36:14,759
Speaker 1: she says she's doing well, it's a big deal in

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00:36:14,840 --> 00:36:19,399
Speaker 1: terms of policy, it absolutely is, Nathan, And I mean

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00:36:19,480 --> 00:36:21,840
Speaker 1: you could take a couple of different angles on this.

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Speaker 1: May mean. Number one, you've got the Vice President, who

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00:36:24,800 --> 00:36:27,800
Speaker 1: is part of this administration pushing for additional treatments and

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00:36:27,880 --> 00:36:32,360
Speaker 1: additional funding, who is now taking uh, this Pablax COVID

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00:36:32,480 --> 00:36:36,520
Speaker 1: nineteen therapy pill after testing positive. UM. It's kind of

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00:36:36,560 --> 00:36:38,440
Speaker 1: just kind of shows of the full circle and just

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Speaker 1: how pervasive COVID is at this point. The fact that

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00:36:41,239 --> 00:36:45,000
Speaker 1: we've seen so many top politicians obviously Vice President Harris

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00:36:45,040 --> 00:36:48,920
Speaker 1: is the highest drinking, but also those like Attorney General

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00:36:49,000 --> 00:36:53,239
Speaker 1: Merrick Garland, how Speaker Nancy Pelosi uh coming down and

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00:36:53,320 --> 00:36:58,239
Speaker 1: testing positive with covid um. And it's also impacting the

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00:36:58,280 --> 00:37:01,719
Speaker 1: Senate and how the Senate isvoting on things. Remember it's

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00:37:01,719 --> 00:37:05,080
Speaker 1: a Senate. That means that if Democrats need someone to

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00:37:05,080 --> 00:37:07,160
Speaker 1: put them over the top, Harris has to be called

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00:37:07,200 --> 00:37:10,520
Speaker 1: in and obviously she cannot do that while she's testing

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00:37:10,640 --> 00:37:13,560
Speaker 1: positive for COVID. It is interesting as well that the

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00:37:13,560 --> 00:37:16,920
Speaker 1: White House says that Vice President Harris is not considered

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00:37:16,920 --> 00:37:20,320
Speaker 1: a close contact to President Biden after this diagnosis, but

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00:37:20,360 --> 00:37:23,440
Speaker 1: as the President changing his routine at all. Given how

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00:37:23,480 --> 00:37:25,279
Speaker 1: close now, at least in terms of the line of

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00:37:25,360 --> 00:37:30,400
Speaker 1: succession COVID has gotten, we haven't seen any major changes

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00:37:30,480 --> 00:37:32,560
Speaker 1: from the President yet. And one of the reasons that

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00:37:32,640 --> 00:37:35,239
Speaker 1: she hasn't been considered a close contact is because she

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00:37:35,320 --> 00:37:38,200
Speaker 1: did spend the week before in her home state of California,

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00:37:38,320 --> 00:37:41,000
Speaker 1: not not in d C. Um. But we'll see. I

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00:37:41,040 --> 00:37:43,759
Speaker 1: mean this week. Remember one of the last times we

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00:37:43,800 --> 00:37:46,440
Speaker 1: saw a big breakout in d C was after there

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00:37:46,520 --> 00:37:50,400
Speaker 1: was a fancy white tie dinner. And of course there's

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00:37:50,520 --> 00:37:54,719
Speaker 1: the also pretty fancy black tie White House Correspondence Association

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00:37:54,760 --> 00:37:57,560
Speaker 1: dinner that's supposed to be held on Saturday. Biden is

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00:37:57,560 --> 00:38:00,080
Speaker 1: supposed to be attending. I think there's a lot to

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00:38:00,160 --> 00:38:01,960
Speaker 1: people who are going to be keeping an eye out

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00:38:02,040 --> 00:38:06,279
Speaker 1: to see if he winds up changing his plans on that. Yeah,

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00:38:06,320 --> 00:38:08,839
Speaker 1: and uh, I understand we have a funeral coming up

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00:38:08,880 --> 00:38:12,439
Speaker 1: just today for the late former Secretary of State medal

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00:38:12,520 --> 00:38:15,520
Speaker 1: And Albright, that the President's expected to attend as well,

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00:38:15,640 --> 00:38:19,040
Speaker 1: So we'll be watching that very closely. Of course. The

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00:38:19,080 --> 00:38:22,919
Speaker 1: other big developing story on Capitol Hill continues to be

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00:38:23,640 --> 00:38:28,799
Speaker 1: the tapes with House Republican Leader Kevin McCarthy and now

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00:38:28,880 --> 00:38:33,480
Speaker 1: the January six committees talking more about that. Yes, we

703
00:38:33,520 --> 00:38:35,840
Speaker 1: did hear from the chair of the January six Committee

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00:38:36,000 --> 00:38:39,360
Speaker 1: who said that they will likely issue another invite for

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Speaker 1: McCarthy to come to speak to members and to talk

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00:38:42,440 --> 00:38:46,200
Speaker 1: about the answer questions about January six. Now, McCarthy already

707
00:38:46,239 --> 00:38:48,840
Speaker 1: received an invitation from the committee to come to talk.

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00:38:49,160 --> 00:38:51,520
Speaker 1: He said that he would not be doing so, but

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00:38:51,640 --> 00:38:54,799
Speaker 1: interest is renewed after the New York Times lead this

710
00:38:54,960 --> 00:38:58,480
Speaker 1: McCarthy that lead this recording of McCarthy saying that he

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00:38:58,560 --> 00:39:03,080
Speaker 1: considered urging uh Donald Trump to resign. This is right

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00:39:03,120 --> 00:39:06,759
Speaker 1: after the insurrection, while Trump was still president UM and

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00:39:06,800 --> 00:39:10,960
Speaker 1: we're hearing some more recordings of McCarthy talking about concerns

714
00:39:11,040 --> 00:39:14,160
Speaker 1: now about individual members and the roles that they might

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00:39:14,200 --> 00:39:16,880
Speaker 1: have played in January six. So certainly a high interest

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00:39:16,920 --> 00:39:20,360
Speaker 1: from the committee to speak with him, Although Nathan unlikely

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00:39:20,440 --> 00:39:22,719
Speaker 1: that McCarthy is going to be taking the committee up

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00:39:22,719 --> 00:39:25,360
Speaker 1: on their offer and appearing in front of them. That

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00:39:25,480 --> 00:39:28,560
Speaker 1: raises the possibility potentially of a subpoena. I mean, is

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00:39:28,600 --> 00:39:30,759
Speaker 1: that something that the committee is talking about right now?

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00:39:31,719 --> 00:39:34,239
Speaker 1: There hasn't been a decision made on that yet, but

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00:39:34,400 --> 00:39:36,640
Speaker 1: you're absolutely righting thin. I mean, when we've seen high

723
00:39:36,719 --> 00:39:40,360
Speaker 1: profile figures uh not come before the January six Committee,

724
00:39:40,560 --> 00:39:42,920
Speaker 1: they have not been afraid to use subpoena power. That

725
00:39:42,960 --> 00:39:47,399
Speaker 1: would be uh. They're quite an interesting um. This thing

726
00:39:47,520 --> 00:39:51,520
Speaker 1: to see is the House voting on whether to subpoena

727
00:39:51,960 --> 00:39:55,640
Speaker 1: the top Republican and and likely to a certain extent,

728
00:39:55,719 --> 00:39:58,719
Speaker 1: the next Speaker of the House, depending if Republicans do

729
00:39:58,800 --> 00:40:04,680
Speaker 1: well this November. How is this tape affecting McCarthy's chances

730
00:40:04,760 --> 00:40:09,040
Speaker 1: to become the next House Republican leader potentially? How speaker

731
00:40:09,120 --> 00:40:13,600
Speaker 1: is this affecting him politically with his own members? You know,

732
00:40:13,760 --> 00:40:16,799
Speaker 1: the initial tape didn't seem to have too much of

733
00:40:16,840 --> 00:40:20,040
Speaker 1: a blowback. Initially there was some thought that it would,

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Speaker 1: but then McCarthy talked to Trump, and then he went

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00:40:22,719 --> 00:40:25,560
Speaker 1: around calling members and saying, hey, you know, Trump is

736
00:40:25,640 --> 00:40:28,600
Speaker 1: you know overall please because I did not ask him

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00:40:28,640 --> 00:40:32,800
Speaker 1: to resign, and everything's fine and we don't have any problems,

738
00:40:32,800 --> 00:40:35,759
Speaker 1: and members seem to accept that. But then last night

739
00:40:35,880 --> 00:40:39,480
Speaker 1: this next recording from the New York Times dropped, and

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00:40:39,640 --> 00:40:42,840
Speaker 1: this one you really see McCarthy raising concerns and naming

741
00:40:43,000 --> 00:40:46,840
Speaker 1: individual members. And we're gonna see today. I mean that

742
00:40:46,920 --> 00:40:49,000
Speaker 1: recording came out a little bit later in the evening.

743
00:40:49,120 --> 00:40:51,720
Speaker 1: Some Republicans so I spoke with yesterday said they hadn't

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00:40:51,800 --> 00:40:54,520
Speaker 1: seen it yet. And so I think at this point

745
00:40:54,560 --> 00:40:57,600
Speaker 1: Republicans will be meeting this morning. Um, and if there's

746
00:40:57,600 --> 00:40:59,759
Speaker 1: a concern that's going to come up, or if there's

747
00:40:59,800 --> 00:41:02,600
Speaker 1: a message that McCarthy is going to have to defend himself,

748
00:41:02,960 --> 00:41:05,800
Speaker 1: that's that's the point where we're going to see exactly

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00:41:05,800 --> 00:41:09,160
Speaker 1: how much concerned there is among the Republican conference. In

750
00:41:09,160 --> 00:41:11,799
Speaker 1: our last minute here, Emily. At least one now of

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00:41:12,120 --> 00:41:18,560
Speaker 1: President Biden's FED nominees is confirmed. Yes, Leo Brainerd passed

752
00:41:18,600 --> 00:41:22,239
Speaker 1: the Senate yesterday to be confirmed. Uh. She won four

753
00:41:22,280 --> 00:41:26,080
Speaker 1: Republicans as well as the support of what Democrats were there,

754
00:41:26,719 --> 00:41:30,360
Speaker 1: but plans to do the other nominees, including the nomination

755
00:41:30,400 --> 00:41:34,000
Speaker 1: of Lisa cook Um, have now hit a staffo. I mean,

756
00:41:34,040 --> 00:41:38,440
Speaker 1: initially um Cook was set to be approved by all Democrats,

757
00:41:38,560 --> 00:41:41,640
Speaker 1: and then Vice President Harris would have in theory, put

758
00:41:41,680 --> 00:41:45,920
Speaker 1: that vote over the top. However, with two Senate Democrats

759
00:41:46,000 --> 00:41:49,440
Speaker 1: testing positive for COVID, with Harris testing positive for COVID,

760
00:41:49,800 --> 00:41:53,120
Speaker 1: there just wasn't a way for Democrats to get enough support.

761
00:41:53,480 --> 00:41:55,799
Speaker 1: So they're probably likely going to try again with this

762
00:41:55,880 --> 00:41:59,879
Speaker 1: nomination once you have members recover from COVID and get

763
00:42:00,000 --> 00:42:02,319
Speaker 1: back into the Chamber um But at this point it

764
00:42:02,320 --> 00:42:05,840
Speaker 1: seems like her nomination is being held and currently it

765
00:42:05,880 --> 00:42:09,560
Speaker 1: seems like the nominations for the other two FED chairs

766
00:42:09,600 --> 00:42:13,120
Speaker 1: are also being held up until you can tem potentially

767
00:42:13,280 --> 00:42:15,840
Speaker 1: get some of those other lawmakers back in the Chamber.

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Speaker 1: Thanks as always, Bloomberg Government reporter Emily Wilkins from the

769
00:42:19,680 --> 00:42:22,879
Speaker 1: Nation's capital. Read more about these stories on Bloomberg dot

770
00:42:22,880 --> 00:42:25,120
Speaker 1: com or on the Bloomberg terminal, and listen to Bloomberg

771
00:42:25,200 --> 00:42:29,360
Speaker 1: Radio in Washington. Bloomberg one oh five point seven FM

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00:42:29,560 --> 00:42:33,799
Speaker 1: HD two SFP futures up forty two points now down.

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00:42:33,800 --> 00:42:37,040
Speaker 1: Futures up here Unit seventy seven NASTACK futures higher by

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Speaker 1: a hundred thirty five points Bloomberg Surveillance Next with Tom Keene,

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00:42:41,120 --> 00:42:45,760
Speaker 1: Jonathan Farrell, and Lisa Abramowitz for Karen Moscow. I'm Nathan Hagar.

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Speaker 1: This is Bloomberg