1 00:00:01,320 --> 00:00:04,640 Speaker 1: Live from the Bloomberg Interactive Burgers studios. This is Bloomberg 2 00:00:04,680 --> 00:00:08,560 Speaker 1: Daybreak for Thursday, March thirty one. Coming up this hour, 3 00:00:08,840 --> 00:00:12,200 Speaker 1: crude falls as the Viben administration weighs of massive oil 4 00:00:12,280 --> 00:00:15,480 Speaker 1: release to combat inflation. The White House says Vladimir Putin 5 00:00:15,520 --> 00:00:19,000 Speaker 1: is being misinformed about the war by advisors. Apple and 6 00:00:19,040 --> 00:00:23,440 Speaker 1: Facebook mistakenly gave customer data to hackers, and global stocks 7 00:00:23,440 --> 00:00:26,080 Speaker 1: are on track for their worst quarter in two years. 8 00:00:26,400 --> 00:00:29,080 Speaker 1: New York City dismantles more than two hundred homeless and 9 00:00:29,160 --> 00:00:31,880 Speaker 1: encampments in the past two weeks plus. Bird Flew was 10 00:00:31,920 --> 00:00:34,959 Speaker 1: spreading in the US. I'm Michael bar more ahead, I'm 11 00:00:35,000 --> 00:00:37,440 Speaker 1: down Stash and fourth. The Nicks lost the Starlette at 12 00:00:37,440 --> 00:00:39,800 Speaker 1: the Garden, the Rangers one in overtime at Detroit, and 13 00:00:39,880 --> 00:00:44,200 Speaker 1: a surprising coaching change in the n at them. That's 14 00:00:44,240 --> 00:00:49,120 Speaker 1: all straight ahead on Bloomberg Daybreak on Bloomberg ELEVENTREO New York, 15 00:00:49,280 --> 00:00:54,000 Speaker 1: Bloomberg one, Washington, d C, Bloomberg one, O six one, Boston, 16 00:00:54,160 --> 00:00:58,680 Speaker 1: Bloomberg nine sixties, San Francisco, Sirius x M one nineteen 17 00:00:59,040 --> 00:01:01,840 Speaker 1: and around the world. Go on Bloomberg Radio dot Com 18 00:01:01,880 --> 00:01:08,600 Speaker 1: and via the Bloomberg Business. Good morning. I'm Nathan Hager 19 00:01:08,959 --> 00:01:11,880 Speaker 1: and I'm Karen. Moscow and US Dock Index futures are 20 00:01:11,920 --> 00:01:14,400 Speaker 1: mostly higher this morning six oh one on Wall Street, 21 00:01:14,440 --> 00:01:16,600 Speaker 1: and we checked the markets every fifteen minutes throughout the 22 00:01:16,600 --> 00:01:19,680 Speaker 1: trading day on Bloomberg. Right now, S and P futures 23 00:01:19,680 --> 00:01:21,840 Speaker 1: are up four and a half points to down futures 24 00:01:21,840 --> 00:01:24,560 Speaker 1: are a little changed, and Nasdaq future is up fifty eight. 25 00:01:24,840 --> 00:01:27,319 Speaker 1: The decks in Germany's down about a tenth of a percent. 26 00:01:27,600 --> 00:01:30,319 Speaker 1: Ten year treasury up seven thirty seconds, l two point 27 00:01:30,360 --> 00:01:32,880 Speaker 1: three two percent, and the yield on the two year 28 00:01:32,959 --> 00:01:35,959 Speaker 1: two point to seven percent. And now I'm ex scrude 29 00:01:35,959 --> 00:01:39,000 Speaker 1: oil is down more than six percent. Nathan, A right, Karen. 30 00:01:39,040 --> 00:01:40,640 Speaker 1: We'll have more on the markets in a minute. First, 31 00:01:40,680 --> 00:01:43,199 Speaker 1: let's get to the latest on the war. Ukraine says 32 00:01:43,200 --> 00:01:46,760 Speaker 1: ceasefire talks with Russia could resume tomorrow. This would follow 33 00:01:46,760 --> 00:01:50,280 Speaker 1: negotiations in Turkey earlier this week that led to no ceasefire, 34 00:01:50,560 --> 00:01:53,000 Speaker 1: but did have Russia saying it would de escalate near 35 00:01:53,040 --> 00:01:56,360 Speaker 1: the cities of Kiev and Turnittiv. Pentagon spokesman John Kirby 36 00:01:56,360 --> 00:01:59,200 Speaker 1: says it's less of de escalation and more like a repositioning. 37 00:01:59,600 --> 00:02:02,480 Speaker 1: If the Russians were really serious about de escalating, and 38 00:02:03,320 --> 00:02:06,320 Speaker 1: the way they spun this yesterday um that they're trying 39 00:02:06,320 --> 00:02:08,359 Speaker 1: to take the pressure off, well, then send them home. 40 00:02:08,680 --> 00:02:10,360 Speaker 1: And that's not what they're doing, at least not yet 41 00:02:10,520 --> 00:02:13,000 Speaker 1: kind of gone spokesman John Kirby and the defense officials 42 00:02:13,000 --> 00:02:15,680 Speaker 1: in the UK say there are still significant Russians showing 43 00:02:15,720 --> 00:02:18,120 Speaker 1: around her and have and they're holding positions to the 44 00:02:18,160 --> 00:02:21,240 Speaker 1: east and west of Kiev despite withdrawing a limited number 45 00:02:21,240 --> 00:02:24,520 Speaker 1: of troops. Meantime, Nathan, it looks like Vladimir Putin may 46 00:02:24,560 --> 00:02:27,520 Speaker 1: not be getting accurate information on the war. According to 47 00:02:27,560 --> 00:02:30,880 Speaker 1: the White House, the Russian president has been misinformed by 48 00:02:30,960 --> 00:02:34,600 Speaker 1: advisors about his military's performance in Ukraine and the effect 49 00:02:34,680 --> 00:02:37,720 Speaker 1: of sanctions on the economy. Amy Morris has details from 50 00:02:37,720 --> 00:02:41,600 Speaker 1: our Bloomberg ninety one newsroom in Washington. White House Communications 51 00:02:41,639 --> 00:02:44,880 Speaker 1: Director Kate Bettingfield says they have information the Russian military 52 00:02:45,000 --> 00:02:48,960 Speaker 1: is deliberately misleading Putent. We believe he's being misinformed by 53 00:02:49,000 --> 00:02:52,519 Speaker 1: his advisors about how badly the Russian military is performing 54 00:02:52,880 --> 00:02:55,520 Speaker 1: and how the Russian economy is being crippled by sanctions. 55 00:02:55,800 --> 00:02:58,680 Speaker 1: Because again his senior advisors are too afraid to tell 56 00:02:58,760 --> 00:03:01,960 Speaker 1: him the truth, and betting Field says that's created persistent 57 00:03:02,040 --> 00:03:05,960 Speaker 1: tension between Putin and his military leadership in Washington. I'm 58 00:03:06,000 --> 00:03:08,359 Speaker 1: maybe Morris Bloomberg, Daybreak, All right, Amy, thank you. No, 59 00:03:08,560 --> 00:03:11,919 Speaker 1: energy prices have climbed sharply since the start of the war. Now, 60 00:03:11,960 --> 00:03:15,200 Speaker 1: the Biden administration's weighing a massive release of oil from 61 00:03:15,280 --> 00:03:17,720 Speaker 1: US reserves. Let's get the latest on that live from 62 00:03:17,720 --> 00:03:20,880 Speaker 1: Bloomberg's RNDA Young. Good morning, Granita, Good morning, Nathan. Bloomberg 63 00:03:21,000 --> 00:03:23,720 Speaker 1: sources say the White House is considering releasing about a 64 00:03:23,760 --> 00:03:26,680 Speaker 1: million barrels of oil a day from US reserves for 65 00:03:26,720 --> 00:03:29,560 Speaker 1: several months. The total release could be as much as 66 00:03:29,600 --> 00:03:33,160 Speaker 1: one eighty million barrels. Along with the plan comes a 67 00:03:33,240 --> 00:03:36,000 Speaker 1: diplomatic push for the i e A to coordinate a 68 00:03:36,040 --> 00:03:39,320 Speaker 1: global release by other countries. A final decision on that 69 00:03:39,360 --> 00:03:42,280 Speaker 1: has not been reached yet, but Bloomberg sources say the 70 00:03:42,280 --> 00:03:45,040 Speaker 1: White House may make an announcement on the US release 71 00:03:45,280 --> 00:03:48,480 Speaker 1: as soon as today. Live in New York, I'm Ranita 72 00:03:48,520 --> 00:03:50,640 Speaker 1: Young Bloomberg Day Break, All right, Nita, thank you, and 73 00:03:50,720 --> 00:03:53,360 Speaker 1: checking oil right now and night screwed. Oil is down 74 00:03:53,440 --> 00:03:56,240 Speaker 1: more than six percent, down six dollars fifty four cents 75 00:03:56,280 --> 00:03:58,600 Speaker 1: at a hundred one dollar twenty seven cents of barrel 76 00:03:58,840 --> 00:04:01,200 Speaker 1: Bran is down more than five percent and a hundred 77 00:04:01,280 --> 00:04:03,920 Speaker 1: seven dollars sixty eight cents, and the drop and Crewed 78 00:04:04,000 --> 00:04:06,120 Speaker 1: is helping lift stock futures as we close out the 79 00:04:06,160 --> 00:04:08,920 Speaker 1: last trading day at the first quarter, even with recent games, 80 00:04:08,920 --> 00:04:11,760 Speaker 1: global equities are on track for their worst quarter in 81 00:04:11,840 --> 00:04:15,280 Speaker 1: two years, and Goldman Sachs Chief equity strategist David Coston 82 00:04:15,360 --> 00:04:19,520 Speaker 1: warrants the upcoming earning season may weigh on stocks. It's 83 00:04:19,560 --> 00:04:23,400 Speaker 1: been a particularly difficult quarter from a operational point of 84 00:04:23,480 --> 00:04:25,680 Speaker 1: view for managements. You think about the first month of 85 00:04:25,680 --> 00:04:29,280 Speaker 1: the year of January was largely overshadowed by Amicron, and 86 00:04:29,360 --> 00:04:31,760 Speaker 1: then you had the higher rates that really kicked in 87 00:04:31,760 --> 00:04:34,760 Speaker 1: in February, and then you have most recently the tragedy 88 00:04:34,760 --> 00:04:37,600 Speaker 1: in the war in Ukraine. So you have these events 89 00:04:37,600 --> 00:04:39,880 Speaker 1: that have really impeded a lot of sales for for 90 00:04:39,880 --> 00:04:43,000 Speaker 1: a lot of companies. Goldman Sachs Chief equities strategist David 91 00:04:43,040 --> 00:04:45,360 Speaker 1: Coston sees less than a two percent game for the 92 00:04:45,520 --> 00:04:47,479 Speaker 1: S and P five hundred the rest of the year, 93 00:04:47,760 --> 00:04:50,200 Speaker 1: as Conston says, higher interest rates have certainly been a 94 00:04:50,240 --> 00:04:52,320 Speaker 1: negative for stocks, and there's more to come from the 95 00:04:52,320 --> 00:04:55,599 Speaker 1: Fed on that front. Richmond President Thomas Barkin says he's 96 00:04:55,640 --> 00:04:58,240 Speaker 1: open to hiking rates by fifty basis points at the 97 00:04:58,279 --> 00:05:01,680 Speaker 1: next policy meeting. Come open to it. I think the 98 00:05:01,800 --> 00:05:03,719 Speaker 1: question and will make this decision when we get to 99 00:05:03,720 --> 00:05:07,480 Speaker 1: the meeting in May, is how strong does the economy 100 00:05:07,680 --> 00:05:09,560 Speaker 1: does still look in terms of its ability to take 101 00:05:09,600 --> 00:05:13,120 Speaker 1: great increases and how high is inflation persistent? So I'm 102 00:05:13,160 --> 00:05:14,800 Speaker 1: looking at both of those and will make our call 103 00:05:14,880 --> 00:05:17,719 Speaker 1: in May. Richmond FED Chief Thomas Barkin made the comments 104 00:05:17,720 --> 00:05:20,720 Speaker 1: in an interview with Bloomberg Radio and Television. Meantime, Ester 105 00:05:20,880 --> 00:05:23,120 Speaker 1: George wants to raise rates at a more moderate pace. 106 00:05:23,200 --> 00:05:26,560 Speaker 1: The Kansas City Fed president favors a steady approach. That's 107 00:05:26,600 --> 00:05:29,720 Speaker 1: not an argument for stalling the removal of accommodation, but 108 00:05:29,760 --> 00:05:33,640 Speaker 1: I do think it's suggests that a steady, deliberate approach 109 00:05:33,720 --> 00:05:37,520 Speaker 1: for the path of policy will provide space to monitor 110 00:05:37,600 --> 00:05:41,240 Speaker 1: developments there as they unfold. Until now, Kansas City Fed 111 00:05:41,240 --> 00:05:44,039 Speaker 1: President Esther George had been among the more hawkish officials 112 00:05:44,040 --> 00:05:46,720 Speaker 1: at the FED. Well, we turn to economic activity in 113 00:05:46,760 --> 00:05:51,040 Speaker 1: Asia Now, Nathan, we're China's manufacturing activity contracted in March. 114 00:05:51,480 --> 00:05:54,880 Speaker 1: The slowdown came as authorities lockdown major technology and factory 115 00:05:54,920 --> 00:05:58,279 Speaker 1: hubs due to COVID. Bloomberg Daybreak Asia anchor Bran Curtis 116 00:05:58,320 --> 00:06:01,120 Speaker 1: has more the official pm I fell to forty nine 117 00:06:01,160 --> 00:06:04,160 Speaker 1: point five, contracting for the first time in five months. 118 00:06:04,480 --> 00:06:07,080 Speaker 1: That was lower than the estimate of forty nine point eight. 119 00:06:07,360 --> 00:06:10,320 Speaker 1: The non manufacturing gauge slumped to forty eight point four, 120 00:06:10,480 --> 00:06:14,600 Speaker 1: also below forecasts. China is battling its worst COVID outbreaks 121 00:06:14,600 --> 00:06:18,080 Speaker 1: since the pandemic began. It's thought that areas covering roughly 122 00:06:18,920 --> 00:06:23,719 Speaker 1: of China's GDP are affected. Brian Curtis Sploomberg Daybreak, Thank you, Brian. 123 00:06:23,760 --> 00:06:25,640 Speaker 1: Back here in the US, word of a data breach 124 00:06:25,640 --> 00:06:29,000 Speaker 1: at Apple and Facebook. Sources tell Bloomberg Apple and Meta 125 00:06:29,040 --> 00:06:32,960 Speaker 1: platforms provided customer data to hackers who masqueraded as law 126 00:06:33,080 --> 00:06:36,600 Speaker 1: enforcement officials, and we get the story from Bloomberg's Charlie Pellett. 127 00:06:36,680 --> 00:06:40,520 Speaker 1: Apple and Meta are said to have provided basics subscriber 128 00:06:40,560 --> 00:06:43,520 Speaker 1: to details such as a customer's address, phone number, and 129 00:06:43,680 --> 00:06:47,760 Speaker 1: I P address. In mid one, in response to the 130 00:06:47,839 --> 00:06:52,560 Speaker 1: forged emergency data requests, according to the sources. Normally such 131 00:06:52,640 --> 00:06:55,800 Speaker 1: requests are only provided with a search warrant or subpoena 132 00:06:56,000 --> 00:07:00,000 Speaker 1: signed by a judge. However, the emergency request don't require 133 00:07:00,000 --> 00:07:04,799 Speaker 1: are a court order. In New York, Charlie pell Bloomberg daybreak. Okay, Charlie, 134 00:07:04,800 --> 00:07:07,479 Speaker 1: thanks right now. S and P futures are up six points. 135 00:07:07,480 --> 00:07:10,000 Speaker 1: So are Dow futures. Dance Act futures highed by sixty 136 00:07:10,080 --> 00:07:12,800 Speaker 1: eight ten. Your treasury is up seven thirty seconds, the 137 00:07:12,880 --> 00:07:15,160 Speaker 1: yield two point three two per cent. Straight ahead your 138 00:07:15,240 --> 00:07:18,360 Speaker 1: latest local headlines and to check of sports. This is 139 00:07:18,440 --> 00:07:24,960 Speaker 1: Bloomberg in six or seven on wall streets. Starting to 140 00:07:24,960 --> 00:07:27,680 Speaker 1: see some showers now forty seven degrees in central parks, 141 00:07:27,720 --> 00:07:29,520 Speaker 1: so pretty quiet on the roads, out of the typical 142 00:07:29,800 --> 00:07:31,720 Speaker 1: volume delays this time of the morning. We'll check with 143 00:07:31,800 --> 00:07:34,200 Speaker 1: traffic shortly. First, Michael Bars here with more on what's 144 00:07:34,200 --> 00:07:36,400 Speaker 1: going on in New York and around the world. Michael, 145 00:07:36,480 --> 00:07:38,720 Speaker 1: thank you very much. Nathan and New York City Task 146 00:07:38,800 --> 00:07:42,640 Speaker 1: Force has removed almost two hundred forty homeless encampments over 147 00:07:42,680 --> 00:07:45,920 Speaker 1: the past two weeks. It's part of Mayor Eric Adams 148 00:07:45,960 --> 00:07:49,400 Speaker 1: strategy to clean up public spaces and connect people living 149 00:07:49,400 --> 00:07:52,720 Speaker 1: on the streets with housing and social services. As if 150 00:07:52,840 --> 00:07:56,800 Speaker 1: Mayor of all of us, including my homeless brothers assistants, 151 00:07:57,000 --> 00:08:00,840 Speaker 1: I'm not leaving any New York is the We're moving 152 00:08:00,880 --> 00:08:04,760 Speaker 1: together and that is the goal of what we must accomplish. 153 00:08:04,880 --> 00:08:08,920 Speaker 1: I'm not abandoning anyone. I'm not believing that dignity is 154 00:08:09,000 --> 00:08:13,160 Speaker 1: living in a cardboard without a shower, without a toilet, 155 00:08:14,080 --> 00:08:18,040 Speaker 1: living in terrible living conditions. Mayor Adams says more than 156 00:08:18,080 --> 00:08:22,160 Speaker 1: three hundred homeless people have accepted social services. New York 157 00:08:22,240 --> 00:08:27,200 Speaker 1: City COVID nineteen cases arising again, particularly among people to 158 00:08:27,280 --> 00:08:30,600 Speaker 1: thirty four years old. The surge appears to be concentrated 159 00:08:30,600 --> 00:08:33,720 Speaker 1: in Manhattan, the most vaccinated borough. The New York City 160 00:08:33,720 --> 00:08:36,400 Speaker 1: Department of Health posted a warning on Twitter saying they 161 00:08:36,400 --> 00:08:40,760 Speaker 1: strongly recommend New Yorker's mask up indoors and get booster shots. 162 00:08:41,240 --> 00:08:44,000 Speaker 1: A deadly strain of bird flu that's been raising egg 163 00:08:44,040 --> 00:08:47,160 Speaker 1: prices ahead of Easter has been discovered in five New 164 00:08:47,280 --> 00:08:50,760 Speaker 1: US states. According to the Department of Agriculture, the virus 165 00:08:50,800 --> 00:08:55,760 Speaker 1: increasingly is threatening American poultry exports. The influenza was discovered 166 00:08:55,760 --> 00:09:00,480 Speaker 1: in Massachusetts North Carolina, North Dakota, Ohio, and Wioming. Chris 167 00:09:00,559 --> 00:09:03,520 Speaker 1: Rock says he is still processing the Will Smith slap 168 00:09:03,559 --> 00:09:06,560 Speaker 1: at the Oscars. Rock played before a sold out show 169 00:09:06,600 --> 00:09:09,400 Speaker 1: in Boston last night. The fifty seven year old comedian 170 00:09:09,440 --> 00:09:12,200 Speaker 1: got a long standing ovation from the crowd. Meanwhile, the 171 00:09:12,240 --> 00:09:15,600 Speaker 1: Motion Picture Academy is now revealing that Smith was asked 172 00:09:15,600 --> 00:09:18,920 Speaker 1: to leave the Oscars after he slapped Rock, but he refused. 173 00:09:19,240 --> 00:09:22,840 Speaker 1: The Academy says it has begun disciplinary proceedings against Smith, 174 00:09:23,080 --> 00:09:27,040 Speaker 1: which could include expulsion. Actor Bruce Willis is stepping away 175 00:09:27,080 --> 00:09:30,679 Speaker 1: from his acting career. His family says he has recently 176 00:09:30,720 --> 00:09:35,520 Speaker 1: been diagnosed with aphasia, which is impacting his cognitive abilities. 177 00:09:35,960 --> 00:09:39,840 Speaker 1: Dr Jagen Pollie is a cognitive neurologist at the Cleveland 178 00:09:39,880 --> 00:09:42,640 Speaker 1: Clinics Center for Brain Health. There is a change in 179 00:09:42,679 --> 00:09:46,720 Speaker 1: the linuage function of the person because of an online 180 00:09:46,840 --> 00:09:52,079 Speaker 1: change happening the minuage part of the brain. Dr Polite 181 00:09:52,200 --> 00:09:54,959 Speaker 1: told ABC ip asia can be caused by an injury, stroke, 182 00:09:55,160 --> 00:09:58,800 Speaker 1: or degenerative disease. Global News twenty four hours a day 183 00:09:58,800 --> 00:10:01,000 Speaker 1: on air and on Bloomberg Take, powered by more than 184 00:10:01,280 --> 00:10:03,560 Speaker 1: seven hundred journalists and analysts in more than a hundred 185 00:10:03,600 --> 00:10:06,480 Speaker 1: twenty countries on Michael Barr, this is Bloomberg naked alright, Michael, 186 00:10:06,480 --> 00:10:12,959 Speaker 1: thank you almost six ten on All Street time for 187 00:10:12,960 --> 00:10:15,160 Speaker 1: the Bloomberg Sports. I think he's John Stenshower all right. 188 00:10:15,240 --> 00:10:18,480 Speaker 1: Nathan has obviously been a much better season for the Rangers, 189 00:10:18,480 --> 00:10:20,960 Speaker 1: and it's been for the Knicks. They'll be playoff hockey 190 00:10:20,960 --> 00:10:23,400 Speaker 1: at the Garden and not playoff hoops. And last night 191 00:10:23,480 --> 00:10:26,360 Speaker 1: Rangers one Nicks lost their season high four game win. 192 00:10:26,400 --> 00:10:30,320 Speaker 1: Speed came to an end. Charlotte be one fourteen. Miles 193 00:10:30,360 --> 00:10:32,679 Speaker 1: Bridges scored thirty one points La Melo ball at twenty 194 00:10:32,720 --> 00:10:35,199 Speaker 1: with fifteen assists, Evan Pod Game of the Knicks with 195 00:10:35,440 --> 00:10:38,360 Speaker 1: thirty As for the Rangers, back and forth game in Detroit, 196 00:10:38,520 --> 00:10:40,560 Speaker 1: or they didn't have to go on the power player 197 00:10:40,679 --> 00:10:43,840 Speaker 1: flings the shot they score. Is it Crider or Cop 198 00:10:43,880 --> 00:10:46,679 Speaker 1: at the doorstep? Crider took the shot. It's a power 199 00:10:46,760 --> 00:10:49,679 Speaker 1: play goal. We're sight at four Miller on the ice, 200 00:10:50,120 --> 00:10:53,440 Speaker 1: Cop Panarin far circle, Pannaron, He's got cop, gets at 201 00:10:53,440 --> 00:10:57,720 Speaker 1: the cop, shoots at scars and threw cop and over 202 00:10:57,800 --> 00:11:00,720 Speaker 1: time how the Rangers went five four a VPN had 203 00:11:00,760 --> 00:11:02,840 Speaker 1: at the time. Goal was by Chris Wider and that's 204 00:11:02,840 --> 00:11:05,120 Speaker 1: his forty six of the year. The Rangers fourth grade win. 205 00:11:05,240 --> 00:11:07,760 Speaker 1: Some coaching news, first from Seton Hall, where Kevin will 206 00:11:07,800 --> 00:11:10,880 Speaker 1: had recently left to take over at Maryland. Shaheen Halloway 207 00:11:11,000 --> 00:11:13,360 Speaker 1: was willard Stop assistant first at IONA and then for 208 00:11:13,400 --> 00:11:15,760 Speaker 1: eight years at Seton Hall, where Holloway was once a 209 00:11:15,840 --> 00:11:18,080 Speaker 1: star point Guards. So Holloway might have gotten this job 210 00:11:18,440 --> 00:11:21,240 Speaker 1: even if he hadn't just coached St. Peter's to arguably 211 00:11:21,240 --> 00:11:24,120 Speaker 1: the greatest Cinderella run in m C Double A tournament histories. 212 00:11:24,120 --> 00:11:27,640 Speaker 1: And no surprise, Holloway leaving the Peacocks stain in Jersey 213 00:11:27,640 --> 00:11:30,040 Speaker 1: to coach the Pirate. Big surprise last night at a 214 00:11:30,120 --> 00:11:33,280 Speaker 1: Tampa Bay Bruce Arians stepped down. He's going to assist 215 00:11:33,320 --> 00:11:36,120 Speaker 1: Bucks GM Jason Light to Odd Bowles, who was the 216 00:11:36,200 --> 00:11:38,199 Speaker 1: defensive winator and before that, the head coach of the 217 00:11:38,280 --> 00:11:41,319 Speaker 1: Jets takes over. The sixty nine year old Arians has 218 00:11:41,320 --> 00:11:43,720 Speaker 1: had health health issues, but insisted that was not the 219 00:11:43,760 --> 00:11:47,480 Speaker 1: reason for this move. John stash Award Bloomberg Sports, Nathan 220 00:11:47,800 --> 00:11:50,080 Speaker 1: John Thank U s and P futures now up four 221 00:11:50,120 --> 00:11:53,360 Speaker 1: point Staff futures down three, nastac futures up sixty. The 222 00:11:53,400 --> 00:11:57,000 Speaker 1: ten year treasury yield two point three two up. Next, 223 00:11:57,040 --> 00:12:00,520 Speaker 1: the latest on the war in Ukraine. Bloomberg's Marie it Today, 224 00:12:00,520 --> 00:12:04,280 Speaker 1: oh joins us from Budapest. This is Bloomberg. Good morning, 225 00:12:07,520 --> 00:12:10,760 Speaker 1: Bloomberg eleven three oh Weather cloudy, breezy, some afternoon showers possible. 226 00:12:10,800 --> 00:12:12,720 Speaker 1: Up for sixties for highs will be in the upper 227 00:12:12,720 --> 00:12:15,760 Speaker 1: fifties Tomorrow, turning partly sunny and breezy. Mix of sun 228 00:12:15,760 --> 00:12:18,760 Speaker 1: and clouds. Low fifties for Saturday. Right now forty seven 229 00:12:18,760 --> 00:12:24,839 Speaker 1: in Central Park. Markets. Headlines and breaking news twenty four 230 00:12:24,880 --> 00:12:27,920 Speaker 1: hours a day at Bloomberg dot Com, The Bloomberg Business 231 00:12:27,920 --> 00:12:31,119 Speaker 1: at and at Bloomberg Quick Tape. This is a Bloomberg 232 00:12:31,200 --> 00:12:40,320 Speaker 1: Business clash and I'm Cameron. Moscow and energy stocks are 233 00:12:40,400 --> 00:12:43,480 Speaker 1: dropping with oil prices as Investors Way reports at the 234 00:12:43,520 --> 00:12:47,120 Speaker 1: Biden administration is considering a massive release of crude from 235 00:12:47,160 --> 00:12:50,400 Speaker 1: US reserves to fight inflation. Stocks in Europe are sent 236 00:12:50,440 --> 00:12:54,720 Speaker 1: for the first quarterly decline since shares ambiguous energy companies 237 00:12:54,760 --> 00:12:57,000 Speaker 1: are declining in the pre market, while U S stock 238 00:12:57,040 --> 00:12:59,960 Speaker 1: index futures are mostly higher. We checked the markets are 239 00:13:00,000 --> 00:13:03,120 Speaker 1: for fifteen minutes throughout the trading day on Bloomberg. SNP 240 00:13:03,320 --> 00:13:05,319 Speaker 1: Future is up five and a half points this morning. 241 00:13:05,320 --> 00:13:08,240 Speaker 1: Down Future is a little changed. Nasdack Future is up 242 00:13:08,240 --> 00:13:11,200 Speaker 1: fifty nine. The decks in Germany's down a tenth of uppercent, 243 00:13:11,280 --> 00:13:13,760 Speaker 1: the cat in Paris down three tenths per cent, and 244 00:13:13,760 --> 00:13:16,160 Speaker 1: the foot See one hundred down two tenths of upper cent. 245 00:13:16,400 --> 00:13:18,840 Speaker 1: The K to twenty five in Japan was down seven 246 00:13:18,840 --> 00:13:20,800 Speaker 1: tenths per cent, and the Hanks sang in Hong Kong 247 00:13:20,840 --> 00:13:23,760 Speaker 1: fell one point one percent. Ten Your treasury a four 248 00:13:23,800 --> 00:13:26,600 Speaker 1: thirty seconds c two point three three percent they yield 249 00:13:26,600 --> 00:13:29,439 Speaker 1: on the two year two point to eight percent. Nimex 250 00:13:29,480 --> 00:13:32,640 Speaker 1: screwed oil is falling down six percent or six dollars 251 00:13:32,640 --> 00:13:35,200 Speaker 1: forty five sets at a hundred one dollars forty three 252 00:13:35,240 --> 00:13:37,839 Speaker 1: cents of barrel. Comex gold is down four tenths per 253 00:13:37,840 --> 00:13:40,319 Speaker 1: cent or eight dollars fifty cents at nineteen thirty forty 254 00:13:40,360 --> 00:13:43,520 Speaker 1: announced and Bitcoin that will change at forty seven thousand, 255 00:13:43,520 --> 00:13:46,480 Speaker 1: two hundred nine dollars. That's a Bloomberg business flash. Now 256 00:13:46,480 --> 00:13:48,760 Speaker 1: here's Michael Barrow with more on what's going on around 257 00:13:48,760 --> 00:13:52,320 Speaker 1: the world. Michael Karen, thank you very much. Ukraine's president 258 00:13:52,360 --> 00:13:55,600 Speaker 1: says his country's defense against the Russian invasion is at 259 00:13:55,600 --> 00:13:58,959 Speaker 1: its turning point. Voldamerz Lensky again press the US for 260 00:13:59,040 --> 00:14:02,280 Speaker 1: more hellp hours after the Kremlin's forces renegged on the 261 00:14:02,360 --> 00:14:05,600 Speaker 1: pledge to scale back some of their operations. In the NBA, 262 00:14:05,720 --> 00:14:08,960 Speaker 1: the Knick, Celtics and Warriors lost, the Wizards won. Coach 263 00:14:09,000 --> 00:14:12,080 Speaker 1: Heen Holloway is leaving St. Peter's for Seaton Hall, just 264 00:14:12,200 --> 00:14:14,920 Speaker 1: days after helping the school make history by becoming the 265 00:14:14,960 --> 00:14:18,000 Speaker 1: first fifteen seed to reach the n C Double A Tournaments. 266 00:14:18,080 --> 00:14:20,200 Speaker 1: Lead eight in the NHL, the Rangers be the Red 267 00:14:20,200 --> 00:14:22,880 Speaker 1: Wings and o T five four in the NFL. Former 268 00:14:23,080 --> 00:14:25,840 Speaker 1: New York Jets head coach Todd Bowls would take over 269 00:14:26,200 --> 00:14:29,360 Speaker 1: as head coach of the Tampa Bay Buccaneers. Bruce arians 270 00:14:29,360 --> 00:14:32,360 Speaker 1: As decided to retire and is moving into the front office. 271 00:14:32,520 --> 00:14:35,040 Speaker 1: Global News twenty four hours a day on air and 272 00:14:35,160 --> 00:14:38,000 Speaker 1: on Bloomberg Quick Take, powered by more than twenty seven 273 00:14:38,080 --> 00:14:40,720 Speaker 1: under journalists and analysts more than a hundred twenty countries. 274 00:14:41,040 --> 00:14:44,120 Speaker 1: Michael Barron, This is Bloomberg, Nathan, Thanks Michael. Where at 275 00:14:44,160 --> 00:14:46,880 Speaker 1: sixth nineteen on Wall Street Live from the Bloomberg Interactive 276 00:14:46,920 --> 00:14:50,320 Speaker 1: Brokers Studios. This is Bloomberg Daybreak and our global team 277 00:14:50,360 --> 00:14:53,239 Speaker 1: coverage of the war in Ukraine continues now with Bloomberg 278 00:14:53,280 --> 00:14:56,920 Speaker 1: News Senior reporter for International Affairs, Mark Champion, back with 279 00:14:57,040 --> 00:14:59,320 Speaker 1: us this morning. Mark, good to have you with us. 280 00:14:59,360 --> 00:15:01,120 Speaker 1: Get us up to speed on the state of play 281 00:15:01,200 --> 00:15:06,000 Speaker 1: right now. Well, you know, we had the peace talks 282 00:15:06,440 --> 00:15:09,440 Speaker 1: which really lead nowhere. The Russians said that they would 283 00:15:09,480 --> 00:15:14,760 Speaker 1: withdraw some troops in the north and step down operations there. Um. 284 00:15:14,800 --> 00:15:20,240 Speaker 1: That didn't happen, uh. And now we essentially are waiting 285 00:15:20,280 --> 00:15:23,200 Speaker 1: for another round of talks, this time that will be 286 00:15:23,280 --> 00:15:27,360 Speaker 1: virtual on Friday, to see if there's anywhere we can go. 287 00:15:27,440 --> 00:15:30,880 Speaker 1: But essentially the Russians have made it clear that they 288 00:15:30,960 --> 00:15:35,560 Speaker 1: have a goal in the east to take the rest 289 00:15:35,640 --> 00:15:38,480 Speaker 1: of two provinces that there have been at war since 290 00:15:38,640 --> 00:15:43,920 Speaker 1: UH two thousand fourteen. UH. And then also it's likely 291 00:15:43,960 --> 00:15:46,920 Speaker 1: they'll want to keep a land corridor that they've already 292 00:15:47,080 --> 00:15:51,480 Speaker 1: more or less secured from Crimea into Russia. So it's 293 00:15:51,760 --> 00:15:54,520 Speaker 1: it looks as though those things are gonna have, you know, 294 00:15:54,600 --> 00:15:58,640 Speaker 1: going to be being decided on the ground even as 295 00:15:58,680 --> 00:16:01,960 Speaker 1: these talks carry on. Now, we did hear from Pentagon 296 00:16:02,040 --> 00:16:05,840 Speaker 1: spokesman John Kirby yesterday saying that Russia's promised to de 297 00:16:06,120 --> 00:16:09,080 Speaker 1: escalate near the northern cities of Kiev in turn to 298 00:16:09,160 --> 00:16:12,400 Speaker 1: have maybe more like a repositioning. Does that sort of 299 00:16:12,440 --> 00:16:15,640 Speaker 1: line up with what we're seeing on the ground. Yes, 300 00:16:15,760 --> 00:16:19,560 Speaker 1: I mean in essence that the Russians have been digging 301 00:16:19,800 --> 00:16:24,640 Speaker 1: their artillery and so on in around Kiev and in 302 00:16:24,720 --> 00:16:27,840 Speaker 1: the north for the last couple of weeks, which was 303 00:16:27,880 --> 00:16:31,400 Speaker 1: a change and signified that they expected to be there 304 00:16:31,440 --> 00:16:36,560 Speaker 1: for some time. So they've been also rotating units up 305 00:16:36,600 --> 00:16:40,480 Speaker 1: into Bilorus where they you know, came came down toward 306 00:16:40,600 --> 00:16:44,560 Speaker 1: Kiev from um and uh, you know, partly because at 307 00:16:44,560 --> 00:16:46,200 Speaker 1: this point of the war they just need to be 308 00:16:46,240 --> 00:16:50,560 Speaker 1: replenished and repaired. But you know what happens to them 309 00:16:50,600 --> 00:16:53,600 Speaker 1: then some of them are being put onto trains. Um 310 00:16:53,640 --> 00:16:56,240 Speaker 1: they you know, whether they go back to where they 311 00:16:56,320 --> 00:17:00,120 Speaker 1: originally came from or around to the east to want 312 00:17:00,200 --> 00:17:03,440 Speaker 1: to fight there. Um. You know, that's a question. We've 313 00:17:03,480 --> 00:17:06,440 Speaker 1: also heard from the White House that they have intelligence 314 00:17:06,480 --> 00:17:09,680 Speaker 1: that Russian President Vladimir Putin is actually being misinformed by 315 00:17:09,720 --> 00:17:12,280 Speaker 1: his own military about the progress of the war in Ukraine. 316 00:17:12,320 --> 00:17:14,680 Speaker 1: Do we know anything further, But what's behind that intelligence? 317 00:17:16,080 --> 00:17:18,879 Speaker 1: I don't think we do. You know, so far that 318 00:17:19,119 --> 00:17:23,520 Speaker 1: the Americans have had pretty good intelligence. They've been right 319 00:17:23,560 --> 00:17:26,480 Speaker 1: about most things, certainly in the lead up to the war, 320 00:17:27,440 --> 00:17:30,000 Speaker 1: but exactly how they're getting that is not something that 321 00:17:30,080 --> 00:17:35,080 Speaker 1: we're being is being shared. We're also expecting President Biden 322 00:17:35,160 --> 00:17:38,200 Speaker 1: to make a pretty major announcement later on this afternoon 323 00:17:38,200 --> 00:17:42,280 Speaker 1: about a massive release of oil from the Strategic Reserve. 324 00:17:42,320 --> 00:17:45,920 Speaker 1: We're hearing something like a million barrels a day. What's 325 00:17:46,000 --> 00:17:50,479 Speaker 1: the potential impact there? What does it say about how 326 00:17:50,640 --> 00:17:53,320 Speaker 1: this war could be progressing, at least the way the 327 00:17:53,320 --> 00:17:57,439 Speaker 1: White House estimates in well, I mean, in essence, the 328 00:17:58,400 --> 00:18:02,320 Speaker 1: you know, the U says as uh banned imports of 329 00:18:02,400 --> 00:18:06,160 Speaker 1: oil from Russia, so as the UK, um, the really 330 00:18:06,200 --> 00:18:10,439 Speaker 1: big importers have not. But the price of oil, you know, 331 00:18:10,680 --> 00:18:13,760 Speaker 1: is impacted. And what the US is essentially trying to 332 00:18:13,800 --> 00:18:17,720 Speaker 1: do is just to reduce the blowback onto the US 333 00:18:17,800 --> 00:18:20,840 Speaker 1: economy from the measures that are being taken to to 334 00:18:20,960 --> 00:18:25,600 Speaker 1: try and uh, you know, constrain Russian revenues. Um. So 335 00:18:25,880 --> 00:18:28,080 Speaker 1: we're likely to see more of that kind of thing, 336 00:18:28,280 --> 00:18:32,040 Speaker 1: different different types of efforts in order to try and 337 00:18:32,480 --> 00:18:38,440 Speaker 1: reduce the the the pain that inflicting sanctions on Russia 338 00:18:38,480 --> 00:18:41,639 Speaker 1: does cause to to to Europe and the US. And 339 00:18:41,720 --> 00:18:43,919 Speaker 1: in our last thirty seconds here, Mark, there's been so 340 00:18:44,000 --> 00:18:47,000 Speaker 1: much focus from the White House on a coordination with 341 00:18:47,160 --> 00:18:52,240 Speaker 1: allies when it comes to Russian sanctions and punishments against Russia, 342 00:18:52,400 --> 00:18:55,159 Speaker 1: when it comes to this strategic oil release. Is there 343 00:18:55,200 --> 00:18:57,880 Speaker 1: any sign that we could get some kind of coordination 344 00:18:58,520 --> 00:19:01,680 Speaker 1: from other global players in the market. Well, the the 345 00:19:02,160 --> 00:19:05,879 Speaker 1: International Energy Agency is trying to uh, you know, the 346 00:19:06,440 --> 00:19:09,880 Speaker 1: uh do some energy diplomacy there in order to get 347 00:19:09,880 --> 00:19:13,520 Speaker 1: a coordinated release, uh and to you know, to to 348 00:19:13,560 --> 00:19:17,119 Speaker 1: impact the oil price that way. UM. So, yes, that 349 00:19:17,119 --> 00:19:19,080 Speaker 1: that is going on. How successful it will be, we're 350 00:19:19,080 --> 00:19:21,600 Speaker 1: not We don't know yet, and we'll be watching for 351 00:19:21,640 --> 00:19:24,400 Speaker 1: that announcement from the President later on this afternoon. We'll 352 00:19:24,400 --> 00:19:26,600 Speaker 1: bring it to you live here on Bloomberg Radio when 353 00:19:26,600 --> 00:19:29,560 Speaker 1: it happens. Mark Champion, as always, thanks for being with 354 00:19:29,600 --> 00:19:33,240 Speaker 1: a smart. Champion is senior reporter for International Affairs for 355 00:19:33,320 --> 00:19:37,000 Speaker 1: Bloomberg News. Right now, SMP futures are up four points, 356 00:19:37,000 --> 00:19:40,200 Speaker 1: STOW futures are down four points. NASTAC futures are hired 357 00:19:40,200 --> 00:19:42,919 Speaker 1: by fifty ten. Your treasury is up five thirty seconds, 358 00:19:42,960 --> 00:19:45,000 Speaker 1: yield two point three two percent. The yield on the 359 00:19:45,040 --> 00:19:47,639 Speaker 1: two year two point to eight. To get ready to 360 00:19:47,800 --> 00:19:50,679 Speaker 1: close out what's likely to be the worst quarter for 361 00:19:50,800 --> 00:19:54,639 Speaker 1: stocks in two years. Up ahead, more on the oil 362 00:19:54,680 --> 00:19:58,159 Speaker 1: release plans from the White House and looking ahead to 363 00:19:58,280 --> 00:20:00,760 Speaker 1: the second quarter as we check the five things you 364 00:20:00,760 --> 00:20:07,880 Speaker 1: need to notice. Start your day on Bloomberg Daybreak. Bloomberg 365 00:20:07,920 --> 00:20:09,680 Speaker 1: day Break is brought to you by Ancient accountants and 366 00:20:09,680 --> 00:20:13,439 Speaker 1: Advisor's challenging times call for proactive advisors who help minimize taxes, 367 00:20:13,480 --> 00:20:16,280 Speaker 1: increased cash flow, and create opportunities for the future of 368 00:20:16,280 --> 00:20:23,879 Speaker 1: your business. Visit Ancient dot Com broadcasting live from the 369 00:20:24,000 --> 00:20:27,960 Speaker 1: Bloomberg Interactive Broker Studio in New York. Bloomberg E Living 370 00:20:28,040 --> 00:20:31,680 Speaker 1: free to Washington, d C, Bloomberg ninety nine one to Boston, 371 00:20:31,800 --> 00:20:35,240 Speaker 1: Bloomberg one oh six one to San Francisco, Bloomberg nine 372 00:20:35,280 --> 00:20:38,360 Speaker 1: six to the country, Sirius XM chto one nine team, 373 00:20:38,480 --> 00:20:41,639 Speaker 1: and around the globe the Bloomberg Business app in Bloomberg 374 00:20:41,720 --> 00:20:51,000 Speaker 1: Radio dot com. This is Bloomberg Daybreak. It's six thirty 375 00:20:51,000 --> 00:20:53,520 Speaker 1: on Wall Street. Good morning, I'm Nathan Hager. And I'm 376 00:20:53,560 --> 00:20:56,240 Speaker 1: Cameron Moscow and we're just about three hours away from 377 00:20:56,280 --> 00:20:58,680 Speaker 1: the open of US trading. Time for the five things 378 00:20:58,720 --> 00:21:01,040 Speaker 1: you need to notice, start your day ronto you by 379 00:21:01,200 --> 00:21:04,680 Speaker 1: Interactive Brokers, Simple I d k our Global Trader app. 380 00:21:05,000 --> 00:21:07,840 Speaker 1: Deposit in your local currency and trade stocks in the US, 381 00:21:07,880 --> 00:21:10,879 Speaker 1: Europe and Asia. Start your free trial at ibk R 382 00:21:11,000 --> 00:21:15,040 Speaker 1: dot com, Slash Global Trader up First. Ukraine says cease 383 00:21:15,119 --> 00:21:19,080 Speaker 1: fire talks with Russia could resume tomorrow. This would follow 384 00:21:19,119 --> 00:21:22,600 Speaker 1: negotiations that led to no she's fire but did have 385 00:21:22,760 --> 00:21:26,720 Speaker 1: Russia's saying it would de escalate. Pentagon spokesman John Kirby 386 00:21:26,800 --> 00:21:30,040 Speaker 1: says it's less a de escalation and more like a repositioning. 387 00:21:30,440 --> 00:21:35,560 Speaker 1: Some of those troops we assess a repositioning into Belarus. 388 00:21:36,160 --> 00:21:38,840 Speaker 1: We don't have an exact number for you, but that's 389 00:21:38,840 --> 00:21:42,160 Speaker 1: our early assessments. Uh, none of them, we have seen 390 00:21:42,200 --> 00:21:46,160 Speaker 1: none of them reposition to their home garrison. Pentagon spokesman 391 00:21:46,240 --> 00:21:49,720 Speaker 1: John Kirby says the southern city of Mariopol is still 392 00:21:49,840 --> 00:21:52,639 Speaker 1: taking heavy fire, and meantime, Karen, it looks like Vladom 393 00:21:52,640 --> 00:21:55,480 Speaker 1: Reputin may not be getting accurate information on the war. 394 00:21:55,640 --> 00:21:59,639 Speaker 1: Here's White House Communications Director Kate Bettingfield. We believe that 395 00:21:59,680 --> 00:22:03,199 Speaker 1: Putin is being misinformed by his advisors about how badly 396 00:22:03,480 --> 00:22:06,400 Speaker 1: the Russian military is performing and how the Russian economy 397 00:22:06,440 --> 00:22:09,200 Speaker 1: is being crippled by sanctions, because his senior advisers are 398 00:22:09,200 --> 00:22:11,440 Speaker 1: too afraid to tell him the truth. Kate Bettingfield that 399 00:22:11,480 --> 00:22:14,040 Speaker 1: the Wine House did not specify how the US got 400 00:22:14,040 --> 00:22:18,000 Speaker 1: its intelligence on Putin. Energy prices have climbed sharp lazons 401 00:22:18,000 --> 00:22:20,600 Speaker 1: the start of the war. Nathan. Now the Bonding administration 402 00:22:20,680 --> 00:22:23,480 Speaker 1: is wearing a massive release of oil from US reserves, 403 00:22:23,480 --> 00:22:25,960 Speaker 1: and we get the latest lie from Bloomberg's reneed A Young. 404 00:22:26,000 --> 00:22:29,040 Speaker 1: Good morning, Nina, Good morning, Karen. Bloomberg sources say the 405 00:22:29,040 --> 00:22:31,960 Speaker 1: White House is considering releasing about a million barrels of 406 00:22:32,000 --> 00:22:35,240 Speaker 1: oil a day from US reserves for several months. The 407 00:22:35,280 --> 00:22:38,800 Speaker 1: total release could be as much as one eighty million barrels. 408 00:22:39,040 --> 00:22:41,639 Speaker 1: Along with the plan comes a diplomatic push for the 409 00:22:41,680 --> 00:22:44,879 Speaker 1: i e A to coordinate a global release by other countries. 410 00:22:45,200 --> 00:22:47,800 Speaker 1: A final decision on that has not been reached yet, 411 00:22:48,000 --> 00:22:50,320 Speaker 1: but Bloomberg sources say the White House may make an 412 00:22:50,359 --> 00:22:54,040 Speaker 1: announcement on the US release as soon as today. Live 413 00:22:54,080 --> 00:22:57,000 Speaker 1: in New York. I'm Reneda Young Bloomberg Daybreak. All right, Nita, 414 00:22:57,040 --> 00:22:59,720 Speaker 1: thanks in checking prices on Crewed right now, Nimex is 415 00:22:59,800 --> 00:23:02,320 Speaker 1: down six percent on six dollars forty one cents at 416 00:23:02,320 --> 00:23:04,680 Speaker 1: a hundred one dollars forty cents of barrel. Brent is 417 00:23:04,720 --> 00:23:08,320 Speaker 1: at a hundred six dollars eighty four cents. Global Equities meanwhile, 418 00:23:08,359 --> 00:23:10,720 Speaker 1: you're on track for their worst quarter in two years. 419 00:23:10,760 --> 00:23:13,879 Speaker 1: Aaron Kennon is CEO at Clear Harbor Asset Management. You know, 420 00:23:13,920 --> 00:23:17,400 Speaker 1: I think we're heading into a stormy or weather over 421 00:23:17,440 --> 00:23:20,320 Speaker 1: the next several weeks and perhaps months, and uh, I 422 00:23:20,359 --> 00:23:22,720 Speaker 1: think investors are to be prepared for that. Aaron Kennon 423 00:23:22,760 --> 00:23:25,360 Speaker 1: says the higher interest rates are a major headwind for stocks. 424 00:23:25,680 --> 00:23:27,560 Speaker 1: And in corporate news this morning, we have word of 425 00:23:27,600 --> 00:23:30,040 Speaker 1: a data breach at Apple and Facebook. Bloomberg News has 426 00:23:30,119 --> 00:23:32,879 Speaker 1: learned that Apple and Meta platforms provided customer data to 427 00:23:32,960 --> 00:23:40,120 Speaker 1: hackers who posed as law enforcement officials. Okay, Karen, thanks, 428 00:23:40,160 --> 00:23:42,720 Speaker 1: six thirty three on Wall Street where at forty seven 429 00:23:42,720 --> 00:23:45,399 Speaker 1: degrees in Central Park and we have an accident in 430 00:23:45,440 --> 00:23:48,399 Speaker 1: southbound Garden State Parkway. It's an overturned car Exit ninety 431 00:23:48,760 --> 00:23:51,560 Speaker 1: details coming up in traffic. First Michael Barr with more 432 00:23:51,600 --> 00:23:53,879 Speaker 1: on what's going on in New York and around the world. Michael, 433 00:23:53,920 --> 00:23:56,520 Speaker 1: thank you very much, Nathan. New York City has dismantled 434 00:23:56,520 --> 00:23:59,879 Speaker 1: more than two hundred encampments for homeless people. Mayor Er 435 00:24:00,000 --> 00:24:02,560 Speaker 1: Academ says the task force over the past few weeks 436 00:24:02,680 --> 00:24:05,600 Speaker 1: is trying to clean up public spaces and connect people 437 00:24:05,680 --> 00:24:09,000 Speaker 1: living on the streets with housing and social services. This 438 00:24:09,160 --> 00:24:14,960 Speaker 1: city is now engaged in a multi agency mission with 439 00:24:15,040 --> 00:24:20,080 Speaker 1: compassion and caring taken out time. Not rushing through this, 440 00:24:20,440 --> 00:24:25,840 Speaker 1: but being compassionate to people who are experiencing terrible circumstances 441 00:24:26,040 --> 00:24:29,360 Speaker 1: that they're living through. Many around him, says. Anyone removed 442 00:24:29,359 --> 00:24:32,359 Speaker 1: from the encampments, most of which were in Lower Manhattan, 443 00:24:32,400 --> 00:24:34,439 Speaker 1: was offered a voucher to pick up their items at 444 00:24:34,440 --> 00:24:38,040 Speaker 1: another location. Donald Trump's son in law, Jared Kushner, is 445 00:24:38,080 --> 00:24:41,160 Speaker 1: expected to speak today with the committee investigating the January 446 00:24:41,240 --> 00:24:45,880 Speaker 1: sixth attack on the Capitol. The former president's daughter, Ivanka Trump, 447 00:24:46,080 --> 00:24:49,639 Speaker 1: is also expected to eventually meet voluntarily with the committee. 448 00:24:50,000 --> 00:24:52,480 Speaker 1: Bird flu is spreading in the US. According to the 449 00:24:52,520 --> 00:24:56,240 Speaker 1: Department of Agriculture, The deadly strain was discovered in five 450 00:24:56,359 --> 00:25:02,080 Speaker 1: more states. States involved include Massachusetts, North Dakota, North Carolina, Ohio, 451 00:25:02,280 --> 00:25:06,160 Speaker 1: and Wyoming. Since mid January, it's been found in twenty 452 00:25:06,200 --> 00:25:11,560 Speaker 1: three states. The Motion Picture Academy has initiated disciplinary proceedings 453 00:25:11,600 --> 00:25:15,720 Speaker 1: against Will Smith for slapping Chris Rock on stage at 454 00:25:15,720 --> 00:25:19,720 Speaker 1: the OSCARS. Smith could be expelled. Meanwhile, Rock performed before 455 00:25:19,800 --> 00:25:22,920 Speaker 1: sold out crowd last night in Boston. This woman was there. 456 00:25:23,240 --> 00:25:26,639 Speaker 1: He came out and he said, I'm still processing, like 457 00:25:26,760 --> 00:25:29,359 Speaker 1: kind of what happened, but let's go on with the show. 458 00:25:29,520 --> 00:25:32,080 Speaker 1: And like he was great. He's always great. The fifty 459 00:25:32,119 --> 00:25:34,680 Speaker 1: seven year old comedian got a long standing ovation as 460 00:25:34,680 --> 00:25:37,440 Speaker 1: he took the stage. The Family A movie star Bruce 461 00:25:37,480 --> 00:25:39,840 Speaker 1: Willis announced that he will be stepping away from his 462 00:25:39,880 --> 00:25:44,120 Speaker 1: acting career after he was diagnosed with aphasia. The condition 463 00:25:44,240 --> 00:25:48,720 Speaker 1: is impacting his speech and cognitive abilities. Dr Jagan Polly 464 00:25:48,960 --> 00:25:52,320 Speaker 1: is a cognitive neurologist at the Cleveland Clinic Center for 465 00:25:52,520 --> 00:25:55,800 Speaker 1: Brain Health. Diagnosis. Official is pretty broad on the same 466 00:25:55,920 --> 00:25:59,920 Speaker 1: that basically says some a person has changes in their 467 00:26:00,040 --> 00:26:03,680 Speaker 1: line wage function because I changed the animal plant. Dr 468 00:26:03,720 --> 00:26:06,479 Speaker 1: Poli told ABC. Iph Asia can be caused by an 469 00:26:06,480 --> 00:26:10,720 Speaker 1: injury or degenerative disease Global News twenty four hours a 470 00:26:10,840 --> 00:26:13,880 Speaker 1: day on air and on Bloomberg Quick Take, powered by 471 00:26:13,880 --> 00:26:16,320 Speaker 1: more than twenty seven hundred journalists and analysts are more 472 00:26:16,320 --> 00:26:19,000 Speaker 1: than a hundred twenty countries. Michael Barr, This is Bloomberg. 473 00:26:19,359 --> 00:26:26,280 Speaker 1: Thanks Michael. Almost six thirty six on Wall Street Time 474 00:26:26,320 --> 00:26:29,040 Speaker 1: for the Bloomberg Sports Update with John Stenshire. Thanks Nathan. 475 00:26:29,080 --> 00:26:30,480 Speaker 1: What a difference a year makes A year ago, the 476 00:26:30,560 --> 00:26:33,280 Speaker 1: nixt minute sport in the East this season couldn't crack 477 00:26:33,400 --> 00:26:35,720 Speaker 1: the top ten to get into the play in After 478 00:26:37,400 --> 00:26:40,040 Speaker 1: home loss to Charlotte and ended their season five four 479 00:26:40,080 --> 00:26:43,080 Speaker 1: game winning streak. NIX could be mathematically out as early 480 00:26:43,119 --> 00:26:46,600 Speaker 1: as tonight. There coach Tom Thibodeaux last night Channel Yogi Barra. 481 00:26:46,920 --> 00:26:49,440 Speaker 1: Just keep concentrating on what we're doing, you know, get 482 00:26:49,480 --> 00:26:52,760 Speaker 1: better and then you're not eliminated to you're eliminated, and 483 00:26:52,800 --> 00:26:56,280 Speaker 1: then when you are think, you know, you assess what 484 00:26:56,359 --> 00:26:58,399 Speaker 1: you want to get done. Rangers are getting ready for 485 00:26:58,400 --> 00:27:00,400 Speaker 1: the Stanley Cup playoffs. They won their four the road 486 00:27:00,400 --> 00:27:03,119 Speaker 1: type game in Detroit, already tied three different times and 487 00:27:03,160 --> 00:27:05,600 Speaker 1: then after a Chris Cryder power play goal with less 488 00:27:05,600 --> 00:27:08,560 Speaker 1: than four minutes ago Cryder's forty six goal the season. 489 00:27:08,920 --> 00:27:10,960 Speaker 1: The game was tied at four and the Rangers won 490 00:27:11,000 --> 00:27:13,200 Speaker 1: five four on Andrew cop goal minute and a half 491 00:27:13,240 --> 00:27:16,200 Speaker 1: into Oti. The only way the US men's national soccer 492 00:27:16,200 --> 00:27:18,320 Speaker 1: team was not going to qualify for the World Cup 493 00:27:18,359 --> 00:27:20,720 Speaker 1: was if they lost in Costa Rica by six goals. 494 00:27:20,760 --> 00:27:23,320 Speaker 1: They lost, but only two dupings to the US is 495 00:27:23,359 --> 00:27:26,640 Speaker 1: heading to Qatar in November. The US failed to qualify 496 00:27:26,680 --> 00:27:29,080 Speaker 1: for the World Cup four years ago. Amazing to think 497 00:27:29,119 --> 00:27:31,840 Speaker 1: that in the historically long career of Tom Brady, He's 498 00:27:31,840 --> 00:27:34,240 Speaker 1: only played for two coaches. He's now getting the third 499 00:27:34,680 --> 00:27:37,160 Speaker 1: surprise move out of Tampa Bay, sixty nine year old 500 00:27:37,160 --> 00:27:39,879 Speaker 1: Bruce Arians stepping down. He'll stay with the Buffs, but 501 00:27:40,080 --> 00:27:42,960 Speaker 1: work in the front office will be replaced by defensive 502 00:27:43,000 --> 00:27:45,680 Speaker 1: cordator Toad Bowls, the former head coach of the Jets 503 00:27:45,680 --> 00:27:48,080 Speaker 1: of ten NFL teams, to have a new coach next season, 504 00:27:48,440 --> 00:27:51,720 Speaker 1: to the surprise of No. One, Seaton Hall named Shaheen Holloway. 505 00:27:51,760 --> 00:27:54,479 Speaker 1: It's new coach. Former star point guard, former Seaton Hall 506 00:27:54,520 --> 00:27:57,480 Speaker 1: assistant and just down the road at St. Peter's. Hollowey 507 00:27:57,560 --> 00:27:59,399 Speaker 1: just coached the Peacocks at the n C double a 508 00:27:59,800 --> 00:28:03,760 Speaker 1: the Eed eight Bloomberg Sports. Okay, John, thank you. At 509 00:28:03,760 --> 00:28:05,720 Speaker 1: six thirty seven on Wall Street. Time to take a 510 00:28:05,720 --> 00:28:07,439 Speaker 1: look at stacks and some of the names moving in 511 00:28:07,480 --> 00:28:09,520 Speaker 1: the pre market. We're joined this morning once again by 512 00:28:09,560 --> 00:28:13,960 Speaker 1: Bloomberg's Law Right, taking a look at the overnight action. Laura, 513 00:28:14,119 --> 00:28:17,000 Speaker 1: good morning. Obviously we've been talking about the big slump 514 00:28:17,040 --> 00:28:20,479 Speaker 1: in crude prices. On word there may be a major 515 00:28:20,680 --> 00:28:24,439 Speaker 1: strategic reserve release out of the US. What's that doing? 516 00:28:24,480 --> 00:28:29,160 Speaker 1: Two oil stocks. I'm looking at two names, Occidental Petroleum Corp. 517 00:28:29,280 --> 00:28:34,640 Speaker 1: Down two point seven five and Excen Mobile down two. Now, 518 00:28:34,680 --> 00:28:38,040 Speaker 1: as you mentioned, the Biden administration is planning a massive 519 00:28:38,080 --> 00:28:41,520 Speaker 1: release in strategic petroleum reserves to the tune of one 520 00:28:41,800 --> 00:28:44,920 Speaker 1: million barrels a day, which could go on for months. 521 00:28:45,000 --> 00:28:48,040 Speaker 1: The upper estimates are a release of one eighty marion 522 00:28:48,200 --> 00:28:51,920 Speaker 1: million barrels. Now, this is a combat combat rising gasoline 523 00:28:51,920 --> 00:28:54,840 Speaker 1: prices and disruption to supply following the war in Ukraine. 524 00:28:55,600 --> 00:28:58,720 Speaker 1: And we've been talking of course about the latest Chinese 525 00:28:58,800 --> 00:29:02,240 Speaker 1: economic data, this slump in manufacturing. There are a lot 526 00:29:02,280 --> 00:29:05,400 Speaker 1: of big tech names in the US that are exposed 527 00:29:05,400 --> 00:29:10,120 Speaker 1: to that. Yeah, Apple up three three ten percent in 528 00:29:10,160 --> 00:29:13,000 Speaker 1: the pre market this morning, and they also exploring new 529 00:29:13,040 --> 00:29:16,280 Speaker 1: sources of memory chips, potentially a Chinese chip maker for 530 00:29:16,320 --> 00:29:19,560 Speaker 1: the first time. The world's most valuable company. They want 531 00:29:19,600 --> 00:29:23,720 Speaker 1: to diversify suppliers to mitigate the risk of supply chain congestion. 532 00:29:24,160 --> 00:29:28,080 Speaker 1: One of Apple's US based suppliers, Micron Technologies, selling offer 533 00:29:28,120 --> 00:29:30,120 Speaker 1: on half of this half of a cent before the 534 00:29:30,120 --> 00:29:32,480 Speaker 1: bell as a result, and Tesla will be learned their 535 00:29:32,520 --> 00:29:35,880 Speaker 1: factory in Shanghai will be closed for another day. That said, 536 00:29:36,240 --> 00:29:39,520 Speaker 1: Tesla shaking off negative headlines up four tents of a percent. 537 00:29:40,000 --> 00:29:43,480 Speaker 1: Now we're seeing some pretty divergent movement when it comes 538 00:29:43,520 --> 00:29:48,840 Speaker 1: to domestic chip makers. Yeah, a m D is down 539 00:29:49,200 --> 00:29:53,920 Speaker 1: two right now. This is an idiosyncratic move because Barclay's 540 00:29:53,960 --> 00:29:58,720 Speaker 1: have downgraded their rating to equal weight from overweight now 541 00:29:58,760 --> 00:30:04,040 Speaker 1: advanced micro vices. They Barclays believes that the growth trajectory 542 00:30:04,360 --> 00:30:07,479 Speaker 1: is not clear and actually certain segments are running at 543 00:30:07,520 --> 00:30:11,240 Speaker 1: elevated levels right now. And finally, I see your watching 544 00:30:11,280 --> 00:30:16,640 Speaker 1: an influencer marketing company. I've never felt older, Laura. What 545 00:30:16,720 --> 00:30:19,320 Speaker 1: does all have to do to be represented by I 546 00:30:19,800 --> 00:30:24,920 Speaker 1: d e? A worldwide pre market up? Almost it's a 547 00:30:24,960 --> 00:30:28,680 Speaker 1: school company. Exactly, with a market cap just below ninety 548 00:30:28,880 --> 00:30:33,360 Speaker 1: million dollars, and this quarter of the company reported record revenue. 549 00:30:33,360 --> 00:30:36,320 Speaker 1: But whether we like it or not, influences here to 550 00:30:36,400 --> 00:30:41,360 Speaker 1: stay Yeah, I guess okay, Laura right, Bloomberg News as always, 551 00:30:41,400 --> 00:30:43,600 Speaker 1: thanks for keeping us up to speed on what's happening 552 00:30:43,600 --> 00:30:46,200 Speaker 1: in the pre market on this final training day of 553 00:30:46,240 --> 00:30:50,160 Speaker 1: the first quarter. Looking ahead to the open as a whole, Uh, 554 00:30:50,240 --> 00:30:52,520 Speaker 1: it's kind of flat actually. S and P futures right 555 00:30:52,520 --> 00:30:56,080 Speaker 1: now up four points. Staff futures are down three. Nasdaq 556 00:30:56,160 --> 00:30:59,720 Speaker 1: futures are higher by fifty four points. The tenure treasury 557 00:30:59,840 --> 00:31:03,560 Speaker 1: up nine thirty seconds. The yield two point three yield 558 00:31:03,600 --> 00:31:06,640 Speaker 1: on the two year two point to seven percent. That's 559 00:31:06,640 --> 00:31:09,959 Speaker 1: a spread of just about three and a half basis points. 560 00:31:10,520 --> 00:31:13,280 Speaker 1: Much more to come, stay with us, you're listening to 561 00:31:13,360 --> 00:31:24,520 Speaker 1: Bloomberg at daybreak Bloomberg eleven three oh Weather, cloudy, breezy, 562 00:31:24,560 --> 00:31:27,720 Speaker 1: some afternoon showers, likely upper sixties for highs, Partly sunny, 563 00:31:27,720 --> 00:31:30,280 Speaker 1: breezy Tomorrow, upper fifties will be in the low fifties 564 00:31:30,280 --> 00:31:32,400 Speaker 1: Saturday under a mix of sun and clouds. Right now, 565 00:31:32,440 --> 00:31:37,840 Speaker 1: some showers and forty seven degrees in central park markets 566 00:31:37,920 --> 00:31:41,040 Speaker 1: headlines and breaking news twenty four hours a day at 567 00:31:41,040 --> 00:31:45,480 Speaker 1: Bloomberg dot Com, The Bloomberg Business at and at Bloomberg Quicktape, 568 00:31:45,560 --> 00:31:54,800 Speaker 1: He's a Bloomberg Business lash and I'm Karen Moscow and 569 00:31:54,960 --> 00:31:58,120 Speaker 1: nine night screwed. Oil is falling today, down more than 570 00:31:58,280 --> 00:32:02,000 Speaker 1: six percent. Futures are mostly higher. We goin to the 571 00:32:02,000 --> 00:32:04,480 Speaker 1: first word breaking news, dask for today's morning call, and 572 00:32:04,520 --> 00:32:08,400 Speaker 1: here's Bill Maloney. Bill, good morning, Hey, good morning, Karen. 573 00:32:08,400 --> 00:32:11,080 Speaker 1: That's right. US futures quiet right now with doubt futures 574 00:32:11,160 --> 00:32:14,200 Speaker 1: hired by seven points. SUPs gained six while nasdack futures 575 00:32:14,240 --> 00:32:17,400 Speaker 1: are higher by fifties seven. He was ten year old 576 00:32:17,440 --> 00:32:19,800 Speaker 1: at two point three two percent. Gold is down five 577 00:32:19,840 --> 00:32:22,560 Speaker 1: and you mentioned oil. Oil is sinking on the report 578 00:32:22,600 --> 00:32:26,520 Speaker 1: the US is considering a release from its reserves. Bigcoin 579 00:32:26,680 --> 00:32:29,200 Speaker 1: is trading little change in Hong Kong fell one point 580 00:32:29,200 --> 00:32:31,480 Speaker 1: one percent overnight. What up? And markets are in the 581 00:32:31,520 --> 00:32:33,920 Speaker 1: red this morning. Back in the US on the economic 582 00:32:33,960 --> 00:32:37,600 Speaker 1: Fronda eight thirty initial jobs claims. And at Chicago p 583 00:32:37,760 --> 00:32:40,760 Speaker 1: m I regarding earnings for walk rains to report in 584 00:32:40,800 --> 00:32:43,560 Speaker 1: the pre market and another news people familiar said that 585 00:32:43,600 --> 00:32:47,000 Speaker 1: Apple is in tops to source iPhone memory chips from 586 00:32:47,000 --> 00:32:50,320 Speaker 1: new suppliers wrapping things up. Andy was cut to equate 587 00:32:50,360 --> 00:32:53,440 Speaker 1: over at Barkley's HP Inc. Was cut to underweight over 588 00:32:53,480 --> 00:32:56,840 Speaker 1: at Morgan Stanley Live from the first Breaking newsdask on 589 00:32:56,880 --> 00:32:58,920 Speaker 1: Bill Maloney care all right, Bill, thank you to hear 590 00:32:58,960 --> 00:33:01,320 Speaker 1: live breaking news of your Boomberg type squalk on your 591 00:33:01,400 --> 00:33:04,640 Speaker 1: terminalscue you a w K. That's a Bloomberg business flash. 592 00:33:04,680 --> 00:33:06,920 Speaker 1: Now here's Michael Barrow with Moore on what's going on 593 00:33:06,960 --> 00:33:09,360 Speaker 1: around the world. Muchael, Karen, thank you very much. The 594 00:33:09,360 --> 00:33:13,120 Speaker 1: White House says Russian President Vladimir Putin has been misinformed 595 00:33:13,240 --> 00:33:17,960 Speaker 1: by advisors about his military's performance in Ukraine. Meanwhile, Britain's 596 00:33:18,000 --> 00:33:21,880 Speaker 1: Defense Ministry says Russia continues to pound northern Ukraine. The 597 00:33:21,960 --> 00:33:25,080 Speaker 1: chairman of the House committee investigating the January six attack 598 00:33:25,160 --> 00:33:28,240 Speaker 1: on the US Capitol said the panel is considering subpoena 599 00:33:28,360 --> 00:33:32,680 Speaker 1: ng former President Donald Trump's personal phone records. In the NBA, 600 00:33:32,800 --> 00:33:36,360 Speaker 1: the Knicks, Celtics, and Warriors lost. The Wizards won. College 601 00:33:36,400 --> 00:33:40,880 Speaker 1: basketball coach Sheeen Holloway is leaving records setting St. Peter's 602 00:33:40,880 --> 00:33:43,320 Speaker 1: for Seaton Hall and the NHL, the Rangers beat the 603 00:33:43,360 --> 00:33:46,680 Speaker 1: Red Wings in OT five four. NFL head coach Bruce 604 00:33:46,720 --> 00:33:49,200 Speaker 1: Arians has decided to retire and is moving into the 605 00:33:49,200 --> 00:33:53,560 Speaker 1: Buccaneers front office. He's being replaced by defensive coordinator Todd Bowles, 606 00:33:53,560 --> 00:33:56,600 Speaker 1: the former head coach with the Jets. Global News twenty 607 00:33:56,600 --> 00:33:59,360 Speaker 1: four hours a day on air and on Bloomberg Quick 608 00:33:59,400 --> 00:34:02,400 Speaker 1: Take Howard by more than twenty seven under journalist and 609 00:34:02,440 --> 00:34:05,479 Speaker 1: analysts in more than twenty countries. I'm Michael Barr. This 610 00:34:05,520 --> 00:34:11,120 Speaker 1: is Bloomberg. The following commentary is from Bloomberg Opinion Learning. 611 00:34:11,320 --> 00:34:14,440 Speaker 1: I'm Jonathan Bernstein, a columnist from Bloomberg Opinion. I'll be 612 00:34:14,480 --> 00:34:16,920 Speaker 1: attending a political science conference next week, and I'll be 613 00:34:16,960 --> 00:34:19,680 Speaker 1: looking to learn about at least three topics I feel 614 00:34:19,680 --> 00:34:22,600 Speaker 1: I could use some help with public opinion about the economy. 615 00:34:22,840 --> 00:34:25,440 Speaker 1: Some of what is driving pessimism about the economy is 616 00:34:25,480 --> 00:34:28,560 Speaker 1: a bad case of inflation. There's also knee jerk partisanship. 617 00:34:28,880 --> 00:34:32,080 Speaker 1: But given the robust job market and healthy growth numbers, 618 00:34:32,120 --> 00:34:35,239 Speaker 1: the popular view that the economy is terrible still needs 619 00:34:35,239 --> 00:34:38,440 Speaker 1: some additional explanation. Set of Republicans have blocked plenty during 620 00:34:38,480 --> 00:34:41,560 Speaker 1: the current Congress, but perhaps they're not quite as flat 621 00:34:41,560 --> 00:34:44,840 Speaker 1: out obstructionists as I had expected. So what's happening? Have 622 00:34:44,960 --> 00:34:47,719 Speaker 1: they actually backed off some? If so, why and what 623 00:34:47,800 --> 00:34:49,959 Speaker 1: does that tell us about how future sentence might act 624 00:34:50,120 --> 00:34:53,160 Speaker 1: and how that would matter to policymaking. Some groups of 625 00:34:53,200 --> 00:34:56,400 Speaker 1: political scientists have found fresh ways to use historical data. 626 00:34:56,640 --> 00:34:58,640 Speaker 1: What I'd like to learn more about is whether there's 627 00:34:58,640 --> 00:35:02,080 Speaker 1: anything in earlier U history they can help explain Donald 628 00:35:02,120 --> 00:35:05,239 Speaker 1: Trump and trump is um, especially as a challenge to democracy. 629 00:35:05,440 --> 00:35:08,080 Speaker 1: I'm Jonathan Bernstein. For more opinions, please go to Bloomberg 630 00:35:08,080 --> 00:35:10,840 Speaker 1: dot com, Slash Opinion or OPI n go on the 631 00:35:10,880 --> 00:35:15,280 Speaker 1: Bloomberg terminal. These has been Bloomberg Opinion and Bloomberg Opinion 632 00:35:15,320 --> 00:35:17,759 Speaker 1: commentaries can be heard every weekday at this time, and 633 00:35:17,840 --> 00:35:20,920 Speaker 1: terminal customers can read more at O p I n go. 634 00:35:21,640 --> 00:35:23,560 Speaker 1: It is six fifty on Wall Street, and we turned 635 00:35:23,560 --> 00:35:26,400 Speaker 1: to news and science and technology now with the Bloomberg 636 00:35:26,400 --> 00:35:29,000 Speaker 1: and j I T STEM Report, brought to you by 637 00:35:29,080 --> 00:35:31,960 Speaker 1: New Jersey Institute of Technology. N j I T makes 638 00:35:32,000 --> 00:35:35,800 Speaker 1: industry ready engineers and more than twenty fields. If it's engineering, 639 00:35:35,880 --> 00:35:38,040 Speaker 1: it's at n j I T. Learn more at n 640 00:35:38,120 --> 00:35:40,560 Speaker 1: j I T. Not e d U I know, here's 641 00:35:40,560 --> 00:35:44,640 Speaker 1: this making news and science, technology, engineering, and math. Astronomers 642 00:35:44,640 --> 00:35:47,960 Speaker 1: have discovered the farthest star yet, a super hot, super 643 00:35:48,000 --> 00:35:51,440 Speaker 1: bright giant that formed nearly thirteen billion years ago at 644 00:35:51,440 --> 00:35:54,439 Speaker 1: the dawn of the cosmos. But this luminous blue star 645 00:35:54,640 --> 00:35:57,560 Speaker 1: is long gone, so massive that it almost certainly exploded 646 00:35:57,600 --> 00:36:00,200 Speaker 1: into bits just a few million years after emerge ng 647 00:36:00,520 --> 00:36:03,160 Speaker 1: Its swift demise makes it all the more incredible that 648 00:36:03,239 --> 00:36:07,400 Speaker 1: an international team spotted it with observations by the Hubble 649 00:36:07,520 --> 00:36:11,960 Speaker 1: space telescope. The study appearing in the journal Nature. Bloomberg 650 00:36:11,960 --> 00:36:14,640 Speaker 1: News has learned Apple is developing his own payment processing 651 00:36:14,640 --> 00:36:18,200 Speaker 1: technology and infrastructure for future financial products. It's part of 652 00:36:18,200 --> 00:36:21,280 Speaker 1: a plan to reduce its reliance on outside partners over time. 653 00:36:21,560 --> 00:36:23,759 Speaker 1: A multi year plan would bring a wide range of 654 00:36:23,760 --> 00:36:28,200 Speaker 1: financial tasks in house that includes payment processing, risk assessment 655 00:36:28,239 --> 00:36:31,719 Speaker 1: for lending, fraud analysis and credit checks. And the Securities 656 00:36:31,719 --> 00:36:34,040 Speaker 1: and Exchange Commission is added by to to a growing 657 00:36:34,080 --> 00:36:36,720 Speaker 1: list of companies that may get kicked off American stock 658 00:36:36,760 --> 00:36:40,440 Speaker 1: exchanges because of Beijing's refusal to permit US officials to 659 00:36:40,480 --> 00:36:43,360 Speaker 1: review their auditor's work, and as a Bloomberg and j 660 00:36:43,520 --> 00:36:46,680 Speaker 1: I t Stem report. Nathan thanks Karen We're live from 661 00:36:46,680 --> 00:36:49,560 Speaker 1: the Bloomberg Interactive Brokers studios, where it's just about six 662 00:36:49,600 --> 00:36:51,919 Speaker 1: fifty two on Wall Street Time now to check what's 663 00:36:51,920 --> 00:36:53,840 Speaker 1: going on in d C. Some of the top stories 664 00:36:53,880 --> 00:36:56,520 Speaker 1: in our nation's capital include the White House saying Putin 665 00:36:56,560 --> 00:36:58,920 Speaker 1: may have been misinformed by his own advisors on the 666 00:36:58,960 --> 00:37:02,080 Speaker 1: war in Ukraine, the Biden team expected to lift pandemic 667 00:37:02,120 --> 00:37:05,960 Speaker 1: era immigration restrictions, and the January six Committee weighing a 668 00:37:06,000 --> 00:37:10,680 Speaker 1: subpoena a former President Donald Trump's personal phone records. Also 669 00:37:10,800 --> 00:37:13,640 Speaker 1: making news, the White House considering a massive release of 670 00:37:13,680 --> 00:37:16,560 Speaker 1: oil from the Strategic Reserve to combat inflation. For more, 671 00:37:16,600 --> 00:37:20,280 Speaker 1: we're joined by Bloomberg Government congressional reporter Jack Fitzpatrick. Jack, 672 00:37:20,280 --> 00:37:23,760 Speaker 1: how massive are we talking here? This would be historically large. 673 00:37:23,880 --> 00:37:28,080 Speaker 1: Our colleagues reporting, uh that you haven't had an announcement yet, 674 00:37:28,080 --> 00:37:29,799 Speaker 1: although the President is supposed to talk about this at 675 00:37:29,840 --> 00:37:33,239 Speaker 1: one thirty this afternoon. But the discussions that have been 676 00:37:33,280 --> 00:37:37,719 Speaker 1: had so far are about a million barrels a day roughly, uh, 677 00:37:37,760 --> 00:37:40,759 Speaker 1: and up to a maximum total number of about a 678 00:37:40,800 --> 00:37:44,319 Speaker 1: hundred eighty million barrels. Keep in mind there about a 679 00:37:44,520 --> 00:37:48,000 Speaker 1: five hundred sixty eight million barrels total in the Strategic 680 00:37:48,000 --> 00:37:51,719 Speaker 1: Petroleum Reserve, So we're talking about roughly a third of 681 00:37:51,840 --> 00:37:55,920 Speaker 1: the oil the US has on hand in that reserve. 682 00:37:56,280 --> 00:38:00,680 Speaker 1: This would obviously not be something that could completely rearrange 683 00:38:00,760 --> 00:38:04,960 Speaker 1: the structure the structural issues of oil and natural gas 684 00:38:04,960 --> 00:38:08,160 Speaker 1: availability in the world. But keep in mind, uh, you know, 685 00:38:08,280 --> 00:38:12,720 Speaker 1: the expectation for the second quarter is that supply would 686 00:38:12,840 --> 00:38:17,160 Speaker 1: be short of demand for roughly eight hundred thousand a day. 687 00:38:17,280 --> 00:38:19,799 Speaker 1: So if they're putting out a million barrels a day 688 00:38:19,920 --> 00:38:22,000 Speaker 1: or so, it's the kind of thing that we've already 689 00:38:22,000 --> 00:38:25,880 Speaker 1: seen could make a difference in oil prices and at 690 00:38:25,960 --> 00:38:28,520 Speaker 1: least in the short term, make a significant difference. And 691 00:38:28,680 --> 00:38:30,880 Speaker 1: it's the kind of thing Jack that I think maybe 692 00:38:30,920 --> 00:38:34,000 Speaker 1: it's it seems as all the White Houses acknowledging that, yeah, 693 00:38:34,080 --> 00:38:38,320 Speaker 1: inflation is really having an impact. There are political considerations 694 00:38:38,360 --> 00:38:41,040 Speaker 1: here for this kind of announcement. Yes, the price of 695 00:38:41,080 --> 00:38:44,920 Speaker 1: gasoline obviously is forefront on a lot of people's minds. 696 00:38:44,960 --> 00:38:49,080 Speaker 1: The White House knows that, uh. And also remember that 697 00:38:49,120 --> 00:38:54,000 Speaker 1: the Strategic Petroleum Reserve, as sort of a short term measure, 698 00:38:54,200 --> 00:38:59,680 Speaker 1: often does reflect political concern They've already directed on two 699 00:38:59,680 --> 00:39:03,520 Speaker 1: Asians in the past few months releases, smaller releases, but 700 00:39:03,800 --> 00:39:06,960 Speaker 1: in the tens of millions of barrels of of oil. 701 00:39:07,520 --> 00:39:09,560 Speaker 1: So this is sort of the short term way for 702 00:39:09,600 --> 00:39:12,320 Speaker 1: the White House to flip a switch. It doesn't address everything, 703 00:39:12,560 --> 00:39:15,520 Speaker 1: but it does show them taking action. And in this case, 704 00:39:15,600 --> 00:39:18,279 Speaker 1: something like a hundred eighty million barrels total would be 705 00:39:18,640 --> 00:39:21,839 Speaker 1: a pretty significant amount of oil. And in the meantime, Jack, 706 00:39:21,880 --> 00:39:25,440 Speaker 1: we're hearing even more explicit signals from the White House 707 00:39:25,560 --> 00:39:28,440 Speaker 1: about how it thinks the war is going for President Putin, 708 00:39:28,480 --> 00:39:31,239 Speaker 1: the kind of intelligence that the White House is continuing 709 00:39:31,280 --> 00:39:35,960 Speaker 1: to unroll here. Yeah, the description yesterday by Kate Bettingfield, 710 00:39:35,960 --> 00:39:39,719 Speaker 1: who's the communications director for the White House uh says, 711 00:39:39,760 --> 00:39:42,560 Speaker 1: she said that the White House is information that Putin 712 00:39:42,960 --> 00:39:47,120 Speaker 1: felt misled by his own people, his own Russian military, 713 00:39:47,239 --> 00:39:50,520 Speaker 1: about what the expectations would be in Ukraine, how this 714 00:39:50,560 --> 00:39:53,520 Speaker 1: would go, what the capabilities were of the Russian military. 715 00:39:53,960 --> 00:39:57,080 Speaker 1: Uh they haven't said on the u S side, where 716 00:39:57,080 --> 00:40:01,839 Speaker 1: did that start, who exactly misinformed whom and when? Uh 717 00:40:02,120 --> 00:40:04,480 Speaker 1: So this may be somewhat of an obvious reflection of 718 00:40:04,520 --> 00:40:06,880 Speaker 1: what we've seen that clearly things are not going the 719 00:40:06,880 --> 00:40:10,080 Speaker 1: way Vladimir Putin expected but that really is the the 720 00:40:10,160 --> 00:40:13,600 Speaker 1: White House line on this, that Putin was not given 721 00:40:13,680 --> 00:40:16,319 Speaker 1: the right information and that at this point he he 722 00:40:16,400 --> 00:40:19,319 Speaker 1: feels that he was misled by his own advisors. Only 723 00:40:19,320 --> 00:40:21,879 Speaker 1: about a minute left here, Jack, the House January six 724 00:40:21,960 --> 00:40:24,759 Speaker 1: committee maybe looking to fill in a big gap in 725 00:40:24,800 --> 00:40:27,960 Speaker 1: the White House phone log. Yes, there's an hour's long 726 00:40:28,080 --> 00:40:33,359 Speaker 1: gap from official White House phone calls on January one. 727 00:40:33,680 --> 00:40:37,040 Speaker 1: Benny Thompson, the chair of the House committee that's investigating 728 00:40:37,080 --> 00:40:40,040 Speaker 1: what happened on that day, said that does not align 729 00:40:40,360 --> 00:40:44,760 Speaker 1: with their understanding of the conversations then President Trump had 730 00:40:44,960 --> 00:40:48,319 Speaker 1: with lawmakers and other people. There is a possibility, he said, 731 00:40:48,360 --> 00:40:52,799 Speaker 1: that they would subpoena Donald Trump's personal phone records. That 732 00:40:52,840 --> 00:40:55,439 Speaker 1: would be a very significant step forward in one they 733 00:40:55,480 --> 00:40:58,120 Speaker 1: they are considering. Thanks for this, Jack, and to have 734 00:40:58,160 --> 00:41:01,920 Speaker 1: you with us, Jack Fitzpatrick, Congressional Order for Bloomberg Government 735 00:41:02,040 --> 00:41:04,279 Speaker 1: and you can read much more about these stories on 736 00:41:04,360 --> 00:41:07,759 Speaker 1: Bloomberg dot com or on the Bloomberg terminal. And as 737 00:41:07,760 --> 00:41:11,120 Speaker 1: a reminder, follow all the latest on Bloomberg Radio in Washington, 738 00:41:11,200 --> 00:41:15,640 Speaker 1: Bloomberg and Wild five point seven FM HD two. Karen 739 00:41:15,960 --> 00:41:18,239 Speaker 1: Very Nathan, thank you well. At six fifties six on 740 00:41:18,320 --> 00:41:21,040 Speaker 1: Wall Street. And this is Bloomberg day Break, and March 741 00:41:21,200 --> 00:41:24,239 Speaker 1: is Women's History Month, and every day this month we 742 00:41:24,280 --> 00:41:27,200 Speaker 1: are celebrating significant moments in women's history. And now with 743 00:41:27,320 --> 00:41:31,000 Speaker 1: your installment for March thirty one, here's Bloomberg's Really to 744 00:41:31,080 --> 00:41:35,000 Speaker 1: Young on this day in women's history. In eight women's 745 00:41:35,080 --> 00:41:38,280 Speaker 1: rights activists their join Or Truth and Susan B. Anthony 746 00:41:38,480 --> 00:41:41,880 Speaker 1: were among key women who established the National Council of 747 00:41:41,960 --> 00:41:45,520 Speaker 1: Women of the United States. It's the oldest American non 748 00:41:45,560 --> 00:41:50,080 Speaker 1: sectarian women's organization. The group was comprised of several women's 749 00:41:50,120 --> 00:41:54,560 Speaker 1: voluntary organizations with common interests in the educational, political, and 750 00:41:54,680 --> 00:41:58,080 Speaker 1: social rights of women. The primary purpose of the National 751 00:41:58,120 --> 00:42:00,600 Speaker 1: Council of Women in the US was to act as 752 00:42:00,640 --> 00:42:04,279 Speaker 1: a clearing house or information bureau for its members so 753 00:42:04,360 --> 00:42:07,520 Speaker 1: they can broaden awareness of each other's activities and so 754 00:42:07,600 --> 00:42:12,360 Speaker 1: they could collaborate better, reducing duplication of efforts. That's today 755 00:42:12,360 --> 00:42:16,359 Speaker 1: in women's history. I'm rened a young Bloomberg Radio. All right, 756 00:42:16,440 --> 00:42:19,720 Speaker 1: Reny to young, thank you futures this morning. Little change 757 00:42:19,760 --> 00:42:22,440 Speaker 1: now as in p futures again that will changed up 758 00:42:22,440 --> 00:42:25,640 Speaker 1: therely three points now future is also little change and 759 00:42:25,719 --> 00:42:29,320 Speaker 1: nonsday futures up about forty eight nine x screwde oil 760 00:42:29,480 --> 00:42:34,040 Speaker 1: falling down six point six percent, now continuing to extend 761 00:42:34,120 --> 00:42:37,200 Speaker 1: its decline, down seven dollars thirteen cents at a hundred 762 00:42:37,200 --> 00:42:39,759 Speaker 1: dollars seventies cents and barrel. And we'll continue to watch 763 00:42:39,840 --> 00:42:43,800 Speaker 1: CREWD Bloomberg surveillance for Tom Keene, Jonathan Farrell, and Lisa Abrama. 764 00:42:43,920 --> 00:42:47,160 Speaker 1: It's for Nathan hager On Karen Moscow, and this is 765 00:42:47,200 --> 00:42:47,759 Speaker 1: Bloomberg