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Speaker 1: Live from the Bloomberg Interactive Burger Studios. This is Bloomberg

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Speaker 1: day Break for Friday, February four two. Coming up this hour,

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Speaker 1: Tech shares rebounds, Amazon earnings boost sentiment, Facebook owner Meta

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Speaker 1: comes off the worst one day crash and the history

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Speaker 1: of the stock market. It's a big day for data

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Speaker 1: as investors await the January jobs report and the crisis

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Speaker 1: in golfing. UK Prime Minister Boris Johnson gets even worse.

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Speaker 1: President Biden visits New York City on gun violence, plus playtiffs,

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Speaker 1: have suit Governor Kathy hokel over New York State's redistrict

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Speaker 1: and plan. I'm Michael barn Or, a John stashwar and

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Speaker 1: sports Saint John's with a win at Georgetown and a

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Speaker 1: strong denial for the Giants and the Brian Flores lawsuit.

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Speaker 1: That's all straight ahead on Bloomberg day Break on Bloomberg Elevantoro,

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

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Speaker 1: six one, Boston, Bloomberg nine sixty, San Francisco, Sirius x

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Speaker 1: M one nineteen and around the world on Bloomberg Radio

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Speaker 1: dot Com and via The Bloomberg Business. Good Morning, I'm

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Speaker 1: Nathan Hager and I'm Karen Moscow in S and Now'sdack

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Speaker 1: futures are climbing this morning in the wake of Amazon earning,

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Speaker 1: so you're coming up to six o one on Wall Street.

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Speaker 1: We checked the markets every fifteen minutes throughout the trading

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Speaker 1: day on Bloomberg with nowsday futures up one d twenty

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Speaker 1: seven points. This morning, S and P futures up ten,

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Speaker 1: DAL futures lower down fifty five ten. Your treasury up

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Speaker 1: through thirty seconds, he has one point one percent, they

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Speaker 1: yield on the two year, one point to one percent,

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Speaker 1: the euro one point one four six two against the dollar.

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Speaker 1: Nathan Well, Karen, what a difference a day makes? Facebook

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Speaker 1: sent the NASDAC plummeting yesterday. This morning, it's a reversal,

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Speaker 1: with futures getting a huge boost thanks to Amazon's earnings

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Speaker 1: after the bell It. Shares of the e commerce giant

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Speaker 1: are up twelve percent. The rally comes after Amazon posted

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Speaker 1: blockbuster profit in the cloud and race prices for its

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Speaker 1: US Prime membership. Ed Ludlow has the details from our

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Speaker 1: Bloomberg sixty newsroom in San Francisco. The annual price of

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Speaker 1: Prime a rise by twenty dollars to a hundred and

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Speaker 1: thirty nine dollars, the first increase since two thousand eighteen.

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Speaker 1: Executives touted the slate of life sports content to come

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Speaker 1: a new series like Lord of the Rings. Beyond benefits

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Speaker 1: like shipping discounts, Amazon was also able to negate higher

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Speaker 1: input costs and labor challenges in the quarter with monster profits.

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Speaker 1: Some of that tied to gains on its investment in

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Speaker 1: ev maker Ribbean, the cloud and advertising unit, which was

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Speaker 1: broken out for the first time, also performed well in

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Speaker 1: San Francisco, ed Ludlow bloom Bag daybreak, all right, thank you,

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Speaker 1: and we're also seeing a major bounce back and two

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Speaker 1: stocks that took up pounding yesterday. Snap which last almost

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Speaker 1: a quarter of its value, is searching more than forty

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Speaker 1: six percent this morning. Pinterest is up fifteen percent in

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Speaker 1: early trading. We get more from Bloomberg still, Christener snaps

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Speaker 1: fourth quarters sales increased forty two to one point three

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Speaker 1: billion dollars daily active users of the company's Snapchat mobile

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Speaker 1: app top forecast separately, the earnings from Pinterests were above estimates,

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Speaker 1: quarterly revenue jump compared to last year, and these games

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Speaker 1: sparked a turnaround in social media stocks in the extended session,

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Speaker 1: following a route triggered by the disappointing earnings from meta platforms.

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Speaker 1: In New York, I'm de prisoner, Bloomberg Daybreak and Doug

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Speaker 1: speaking of that sell off tied to meta turns out

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Speaker 1: the one day crash now ranks as the worst in

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Speaker 1: stock market history. Bloomberg's Charlie Pellett explains the Facebook parent

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Speaker 1: plunge twenty six percent and erased about two hundred fifty

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Speaker 1: two billion dollars in market value. That is the biggest

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Speaker 1: wipe out in market value for any American company ever.

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Speaker 1: Michael Nathanson with Moffett Nathanson titled his note Facebook the

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Speaker 1: Beginning of the End in New York, Charlie Pellett Bloomberg Daybreak.

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Speaker 1: All right, Charlie, thank you. The plunge in meta shares

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Speaker 1: has one potential silver lining for CEO Mark Zuckerberg. And

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Speaker 1: to get the latest line from Bloomberg's Ready a young

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Speaker 1: good morning, Ready to good morning Karen. The big question

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Speaker 1: here is if Facebook users are flocking to TikTok, then

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Speaker 1: should it because sider competition? And if so, the more

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Speaker 1: challenging landscape adds muscle to fight a pending government lawsuit

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Speaker 1: against Meta. Since Meta's earnings missed yesterday, CEO z Arc

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Speaker 1: book Mark Zuckerberg has continued to cite competition from TikTok

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Speaker 1: as a threat that claims. That claims is at the

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Speaker 1: heart of the FTC's anti christ lawsuit against Meta, which

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Speaker 1: says it's a monopoly with no true competition. Meantime, Bloomberg

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Speaker 1: sources say Zuckerberg is telling staff to focus on growing

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Speaker 1: Facebook and Instagram's short video product Reels, which is a

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Speaker 1: copycat of TikTok Live in New York. I'm gonna need

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Speaker 1: a young Bloomberg daybreak, all right, we need to thank you.

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Speaker 1: Yesterday's Facebook lad sell offs on the NASDAC plunge three

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Speaker 1: and three quarters per cent. The volatility is not a

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Speaker 1: surprise to Morgan Stanley, chief US equity strategist Mike Wilson.

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Speaker 1: You know, we've had this narrative fire and ice, and

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Speaker 1: we think it it's gonna be I here. Um, you

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Speaker 1: know that doesn't mean recession as we make payroll numbers

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Speaker 1: the next five months, but you know, the idea that

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Speaker 1: we're not gonna have some payback here from it was

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Speaker 1: a spectacular, you know, kind of rebound during the pandemic.

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Speaker 1: We think his naive Morgan. Stanley's Mike Wilson made the

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Speaker 1: comments on Bloomberg Surveillance Catch the program on Bloomberg Radio

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Speaker 1: and Television at seven am Wall Street Time. Well, yesterday

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Speaker 1: was all about corporate earnings, Nathan. Today we focus on jobs.

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Speaker 1: The government's monthly PAYOARS report is at eight thirty am

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Speaker 1: Wall Street Time. Consensus calls for a game of one

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Speaker 1: hundred twenty five thousand jobs in January, but plenty of

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Speaker 1: predictions call for a much lower number. Bloomberg's Michael McKee

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Speaker 1: explains this may be one of the most interesting and

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Speaker 1: inconsequential jobs reports in many years. The omicron wave that

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Speaker 1: spread through the country in January likely caused many companies

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Speaker 1: to pause hiring plans and many workers sick with COVID.

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Speaker 1: Likely we're off payrolls during the month. Economists anticipate the

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Speaker 1: weakest hiring in a year, and many think the economy

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Speaker 1: may have lost jobs during the month. The unemployment and

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Speaker 1: participation rates are forecast to be unchanged, but it's not

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Speaker 1: likely to matter to markets or the FED. The Central

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Speaker 1: Bank has at its next policy moves clear and investors

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Speaker 1: will discount bad news. Has temporary looking for a payrolls

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Speaker 1: rebound this month. Michael McKey Bloomberg Deybreak, alright, Mike, thanks,

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Speaker 1: re turned to a politics overseas with the crisis in

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Speaker 1: gulfing UK Prime Minister Boris Johnson's government getting worse. Now,

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Speaker 1: let's go live to London and get the latest from

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Speaker 1: Bloomberg's Max Ramsey, Good morning, Max, Morning to you, Nathan

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Speaker 1: and Karen. Really a significant escalation here of the challenges

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Speaker 1: facing Boris Johnson with the resignation of four of his

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Speaker 1: closest aids. We're talking about people in the Prime minister's

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Speaker 1: most inner circle, including his chief of staff and his

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Speaker 1: communications director, but most damaging has been the resignation of

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Speaker 1: his policy chief. She really hit out at Boris Johnson

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Speaker 1: because of her remark he made attacking the Labor Party

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Speaker 1: leader here Starma. Now this all comes in the wake

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Speaker 1: of what's being called in Britain. Party gave these lockdown

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Speaker 1: breaking gatherings in Downing Street and it's only getting more

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Speaker 1: serious to fall out now for the Prime Minister, Live

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Speaker 1: in London. Max Ramsey, Bloomberg Day Break, All right, Max,

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Speaker 1: thank you, and any oil passed today. Geopolitical tensions and

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Speaker 1: a fast tightening global market has screwed on track for

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Speaker 1: a seventh weekly gain. West Texas Intermediate hit a fresh

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Speaker 1: seven year high and is up more than four percent

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Speaker 1: this week. Right now is it cents of barrel? Brent

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Speaker 1: is at ninety two dollars thirty cents. Try to head

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Speaker 1: your latest local headlines plus a check of sports. This

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Speaker 1: is Bloomberg. Thanks hearing six o seven on Wall Street,

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Speaker 1: fifty five degrees in Central Park of the winter weather

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Speaker 1: advisory kicking in later this morning. Michael Barr is here

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Speaker 1: with more on what's going on in New York and

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Speaker 1: around the world. Michael, thank you very much. Nathan. The

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Speaker 1: Tri State area is in the path of a winter storm.

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Speaker 1: Bloomberg Meani relogious. Rob Carolin has the lightest. Michael. We

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Speaker 1: have a pretty wild contrast across the Tri State area.

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Speaker 1: In the Hudson River Valley, temperatures have already fallen to

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Speaker 1: around thirty two up around Stewart Field in Poughkeepsie. That

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Speaker 1: cold air is going to be pushing southward into the

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Speaker 1: city and that will change our precipitation over to some

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Speaker 1: freezing rain for a while before it goes over to

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Speaker 1: sleet later this morning. To be very careful as the

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Speaker 1: morning goes on, because Rhodes will become my see, especially

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Speaker 1: those elevated surfaces as that colder air pushes down from

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Speaker 1: the north. Winner Wather Advisory and effect from eight this

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Speaker 1: morning through seven pm this evening, Michael, Thanks Rob. New

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Speaker 1: York Mayor Eric Adams talked about curbing the surge of

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Speaker 1: gun violence in the city during President Joe Biden's visit yesterday.

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Speaker 1: It's enough, enough is enough, because we know we can

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Speaker 1: do things about this, but for the resistance we're getting

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Speaker 1: from some sectors of the government and the Congress and

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Speaker 1: the state legislatures and the organizational structures out there. Mayor

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Speaker 1: Adams talked about his new police unit to combat gun

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Speaker 1: violence that replaces the controversial old anti crime unit. We're

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Speaker 1: not bringing back the anti prime unit of This is

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Speaker 1: not going to be a plain closed unit. This is

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Speaker 1: an anti gun unit with the officers are going to

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Speaker 1: have a modified police uniform and they're going to be

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Speaker 1: in unmarked vehicles. Mayor Adams spoke on ABC's Nightline. Fourteen

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Speaker 1: plainiffs are suing New York Governor Kathy Hocole and state

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Speaker 1: Democratic lawmakers. The lawsuit in the New York Supreme Court

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Speaker 1: claims that the state's new congressional and legislative maps are unconstitutional.

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Speaker 1: Hocal Is signed off on new maps that give Democrats

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Speaker 1: a heavy political advantage over Republicans. Republican officials meeting in

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Speaker 1: Utah have advanced the resolution that would formerly sense your

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Speaker 1: Representatives Liz Cheney and Adam Kinziger, who they are perceived

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Speaker 1: disloyalty to former President Donald Trump, the GOP won't try

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Speaker 1: to expel them from the party. New York City public

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Speaker 1: school cafeterias are going vegan today as part of a

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Speaker 1: new policy from Mayor Eric Adams that starts this week.

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Speaker 1: Public school students and Queen's had mixed reviews. I don't

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Speaker 1: eat the school launches. I feel like they're disgusting. Will

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Speaker 1: follow her? Isn't no? Adams is a vegan himself. Global

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

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

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Speaker 1: and analysts more than a hundred twenty countries. I'm Michael Lare.

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Speaker 1: This is Bloomberg A meaty subject. Thank you, Michael. Almost

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Speaker 1: six ten on Wall Street time for the Bloomberg Sports

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Speaker 1: Update with John Stanhill all Right, Nathan. Two days after

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Speaker 1: the Brian flores law suits, the Giants responded with a

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Speaker 1: Stronoly awarded statement. They called Florence is at allegations disturbing

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Speaker 1: and simply false. They say they took florens candidacy to

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Speaker 1: be their next coach serious, and denied they had already

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Speaker 1: made the decision to yere Brian day Ball before they

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Speaker 1: interviewed Flores Worth, noting the now infamous Bill Belichick text

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Speaker 1: that was meant for day Ball instead went to Flora's

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Speaker 1: took place even before day Ball had his interview. Giants

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Speaker 1: reacted to that text saying they have no affiliation with Belichick,

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Speaker 1: he does not speak for that day Ball and the

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Speaker 1: Giants have named Mike Cafk their offensive corner. He has

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Speaker 1: been the quarterbacks coach in Kansas City. Doug Peterson, who

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Speaker 1: coached Philadelphia their only Super Bowl win, named the new

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Speaker 1: coach of the Jacksonville Jaguars St. John's with the nineties

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Speaker 1: seventies seven win at Georgetown Julian to pay twenty seven

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Speaker 1: points Patrick Hewings Foyers or oh and nine in the

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Speaker 1: Big East Top ten teams met out. West Arizona beat

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Speaker 1: U C l A NBA. The Warriors beat the Kings

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Speaker 1: for their eighth win in a row. Clay Thompson's best

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Speaker 1: games since his return twenty three points. Trey Young scored

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Speaker 1: forty three. Atlanta put it in to put to Phoenix's

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Speaker 1: eleven game winning to speak the nets of last six

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Speaker 1: in a row they played tonight at Utah. James Harden

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Speaker 1: named as a reserve for the upcoming NBA All Star Game.

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Speaker 1: Kevin Durant not the only injurnet. Joe Harris has been

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Speaker 1: out for some time now, and there's word Harris may

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Speaker 1: need a second ankle surgery. The MLB owners have asked

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Speaker 1: for federal mediation and effort to end the lockout. Opening

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Speaker 1: ceremonies coming up this morning in Beijing. Sight of the

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Speaker 1: two thousand eight Summer Olympics, now the Winter Games. John

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Speaker 1: stash Award Bloomberg Sports, Nathan all Right, John, Thanks sp

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Speaker 1: Futures are turning a touch lower now, they're down three

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Speaker 1: Nana's next future is still higher by eighty nine points.

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Speaker 1: We'll talk Amazon earnings straight ahead with Punham Goyle and

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Speaker 1: Matthew Bloxam of Bloomberg Intelligence. Stay with us. This is

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Speaker 1: Bloomberg Bloomberger eleven three oh weather rain will changed to

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Speaker 1: a winter weather Advisor in effect mostly Sunday Tomorrow upper twenties,

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Speaker 1: degrees in Central Park Markets. Headlines and breaking news twenty

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

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Speaker 1: Business Out and at Bloomberg Quicktake. This is a Bloomberg

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Speaker 1: Business flash and I'm kared. Moscow and US dock index

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Speaker 1: futures are giving up some of their games this morning.

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Speaker 1: NASAIC futures they'll remain higher, up ninety one p SMP

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Speaker 1: futures are now little change, and OW futures are down

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Speaker 1: one fifty ten. Your treasury up four thirty seconds. You

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Speaker 1: had one point one percent yield on the two year

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Speaker 1: of barrel bitcoin this morning, moving higher at thirty seven

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Speaker 1: thousand nine hundred dollars. That's a Bloomberg. This is Flash Now.

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Speaker 1: Here's Michael Barr with more on what's going on around

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Speaker 1: the world. Michael Karen, thank you very much. A major

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Speaker 1: winter storm that already cut electric power to about three

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Speaker 1: fifty thou homes and businesses from Texas to the Ohio

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Speaker 1: Valley is aimed at Pennsylvania through New England. The crisis

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Speaker 1: in Gulfing Boris Johnson's government deepened as four top aids quit.

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Speaker 1: Among those quitting as UK Prime Minister's chief of staff

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Speaker 1: Dan Rosenfield mid the fewer over the party Gate controversy.

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Speaker 1: The US leads after the official opening day of the

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Speaker 1: Team figure skating event at the Beijing Winter Olympics. Global

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

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

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Speaker 1: analyst more than a hundred twenty countries. Michael Barr, this

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Speaker 1: is Bloomberg. Nathan Okay, Michael, thanks for coming up to

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Speaker 1: six nineteen on Wall Street Live from the Bloomberg Interactive

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Speaker 1: Broker Studios. This is Bloomberg Daybreak. As we continue to

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Speaker 1: assess Amazon's earnings, the shares are up more than eleven

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Speaker 1: percent in the pre market. But it's kind of the

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Speaker 1: tale of two earnings really when you think about this company.

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Speaker 1: So we're bringing in two analysts from Bloomberg Intelligence to

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Speaker 1: break down the numbers. Punhum Goyle senior analysts who covers

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Speaker 1: US retailers with US and Matt Bloxham is back as well,

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Speaker 1: tech media and telecom analyst at Bloomberg Intelligence. Put them

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Speaker 1: I'll start with you just to focus a little bit

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Speaker 1: on the online e commerce side of the results we

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Speaker 1: got yesterday, a bit of a slump compared to last year.

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Speaker 1: What's your read on the most forward facing business for Amazon. Yeah? Sure,

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Speaker 1: so online sales um you know, for the quarter were

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Speaker 1: actually in line. They came in at about nine. But

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Speaker 1: that said, their guidance for three day percent increase we

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Speaker 1: thought was weaker than we would have expected. And um,

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Speaker 1: it seems that investors have kind of put that on

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Speaker 1: the side, given the membership be increased, which obviously flows

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Speaker 1: straight to the bottom line, helping offset the margin concerns

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Speaker 1: that they've had for years, given growing labor and free costs. Yeah,

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Speaker 1: it did seem as though investors were pleased by that

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Speaker 1: announcement that they were raising the cost of prime membership.

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Speaker 1: Do you think it will offset the rising costs that

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Speaker 1: Amazon has had to put in to get deliveries in

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Speaker 1: on time and to pay their workers during the pandemic.

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Speaker 1: So I don't think it completely offsets it, but it

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Speaker 1: definitely does some offset to those growing costs. As they said,

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Speaker 1: you know, these costs have no fees associated with it, right,

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Speaker 1: they flow straight to the bottom line. And then I'll

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Speaker 1: turn back to you in terms of how you read

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Speaker 1: these numbers. Obviously we have the e commerce side, we

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Speaker 1: have the cloud side as well, which continues to outperform. Yeah,

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Speaker 1: that's right. I mean it's you know, a very big business,

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Speaker 1: um almost eighteen billion dollars revenue in the quarter, but

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Speaker 1: at great and delivered pleasing margins. You know, I think

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Speaker 1: people have for some time you kind of looked over

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Speaker 1: the shoulder at what Google is doing and what Microsoft

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Speaker 1: is doing and how much that might eat into Amazon's

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Speaker 1: historically dominant position with AWS. But you know, it's out

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Speaker 1: performing those two. If you look at the same quarter,

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Speaker 1: Google's cloud business, which is only about five and a

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Speaker 1: half billion dollars, grew about thirty five. Microsoft total cloud

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Speaker 1: business was up about so outperforming its closest rivals, So

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Speaker 1: I think people will be encouraged that it's still got

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Speaker 1: really good momentum when you see that kind of momentum

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Speaker 1: from the competitors, though, Matt, can Amazon continue to hold

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Speaker 1: onto its market share and what now really has become

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Speaker 1: sort of the dominant aspect of Amazon's business? Yeah, I guess.

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Speaker 1: I mean, if you are being optimistic about not just

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Speaker 1: Amazon but the cloud business in general, you say that

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Speaker 1: perhaps your market share is still not that important issue

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Speaker 1: because the market is just continuing to expand. So um, Yeah,

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Speaker 1: I think the hope would be there's still plenty of

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Speaker 1: room for for everybody, given that so many companies around

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Speaker 1: the world need to go through a pretty substantial technology

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Speaker 1: transformation journey pushing all of that legacy I infrastructure onto

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Speaker 1: the cloud, and I mean Amazon's positioning in that market

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Speaker 1: is still incredibly strong. Turn it back to you, Potum.

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Speaker 1: As far as Amazon's positioning on the retail side, how

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Speaker 1: do you see Amazon navigating the next few quarters here

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Speaker 1: when we could see a lot more consumers presumably coming

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Speaker 1: out of the pandemic, perhaps heading into more physical stores.

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Speaker 1: I mean, Amazon has increased its footprint on the physical

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Speaker 1: side as well, with Whole Foods and some of the

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Speaker 1: UH brick and mortar department store chains that it's thinking

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Speaker 1: about building. What's your outlook for Amazon? Sure? I mean,

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Speaker 1: we still think Amazon's best in class when it comes

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Speaker 1: to retailing. They are the largest um you know, if

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Speaker 1: you quantify them as a retailer, and we do think

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Speaker 1: that they'll continue to go to look next year or

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Speaker 1: this year. I should say two is all about laughing

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Speaker 1: these tough comparison story. We're coming out of the pandemic

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Speaker 1: where they did gain share and the growth rates were

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Speaker 1: particularly high. So as they anniversary those growth rates, the

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Speaker 1: growth rates will appear to be slower, slower than we

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Speaker 1: had expected in the single digit rain versus low double digits.

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Speaker 1: But that said, we do think Amazon is still gain share.

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Speaker 1: People will still prefer to shop online. That is where

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Speaker 1: you find convenience. It's easy, and Amazon couldn't make it

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Speaker 1: any easier with you know, free return than two day

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Speaker 1: delivery on their time service. When we see the kind

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Speaker 1: of surge in the price that we've had this morning,

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Speaker 1: do you think it's justified put them? I think you

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Speaker 1: know profits you know the story with Amazon for a

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Speaker 1: long time, as they couldn't turn profits, and I think

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Speaker 1: part of the drive that we're seeing today and for

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Speaker 1: the last few years is driven by two things. One

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Speaker 1: a ws AWS contributes seventy plus percent to their operating profits,

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Speaker 1: which is huge, and we think that engine will continue

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Speaker 1: to feel profits. But what we saw yesterday and the

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Speaker 1: membership be increased is another is another factor that will

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Speaker 1: really drive profits meaningfully for so I think that's that's

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Speaker 1: where it comes. It really comes down to the profit line.

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Speaker 1: We're seeing investors reward them for increasing their profits, something

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Speaker 1: that Amazon has quite frankly lagged until it had a

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Speaker 1: w S step up. All right, thanks for this to

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Speaker 1: the both of you put them Goyle senior US retail

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Speaker 1: analyst and Matt Blocks, some tech media and telecom analysts,

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Speaker 1: both from Blueberg Intelligence. As we continue to watch Amazon

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Speaker 1: shares rise in the pre market up eleven percent following

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Speaker 1: those earnings, coming up to on Wall Street, we want

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Speaker 1: to get an update on the pandemic now, as we

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Speaker 1: do every Friday morning. There's a new sub variant of

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Speaker 1: OH Macron to keep an eye on as we head

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Speaker 1: toward an Olympic Games where the O Macron variant is

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Speaker 1: front and center as well, Andy Pecos is with us

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Speaker 1: now Professor of Molecular Microbiology and Immunology at the Johns

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Speaker 1: Hopkins Bloomberg School of Public Health. Thanks as always for

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Speaker 1: being with us, Dr Pecos, What can you tell us

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Speaker 1: about this beats? Thanks for the insights, Karen Nathan, thank you.

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Speaker 1: At six on Wall Street, I'm Cameron Moscow, a long

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Speaker 1: with Nathan Hagar, and this is Bloomberg Daybreak. We're just

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

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Speaker 1: Time for the five things you need to know to

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Speaker 1: start your day, brought to you by Interactive Brokers. Trade

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Speaker 1: at ibkr dot com slash crypto up. First, US futures, well,

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Speaker 1: they are a little change nowsday futures are higher, bouncing

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Speaker 1: back in a big way after yesterday's sell off. It's

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Speaker 1: to doue in large part to Amazon, which is surging

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Speaker 1: eleven percent following our names and Ed Ludlow has more

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Speaker 1: from our Bloomberg nine sixty news room in San Francisco

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Speaker 1: was a strong holiday courter for Amazon, despite supply chain disruptions,

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Speaker 1: labor shortages and rising input costs and really beat on

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Speaker 1: the bottom line. It was monster profit, but the after

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Speaker 1: hours moves were driven by a boost in price to

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Speaker 1: Amazon Prime. It will rise by twenty dollars to a

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Speaker 1: hundred and thirty nine dollars in the US and on

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Speaker 1: the cool executives are really at pains to point out

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Speaker 1: that this isn't just about a discount on shipping. There's

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Speaker 1: more value add like a pipeline of live sports content

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Speaker 1: on new series like Lord of the Rings which should

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Speaker 1: be coming this year. In Lovelow boom Bag News, San Francisco.

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Speaker 1: All right, and thanks for also seeing a big bounce

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Speaker 1: back and Snap and Pinterest shares following they're earning. Snap

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Speaker 1: is surging, Pinterest is up almost and as all follows

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Speaker 1: the worst one day single star crash in history, Nathan

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Speaker 1: Facebook Pairent Meadow plunge to raising two billion dollars in value.

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Speaker 1: There could be a silver lining for CEO Mark Zuckerberg, though,

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Speaker 1: and we get the details live from Blueberg's renied A Young.

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Speaker 1: Good morning Rai, Good morning Karen. The big quest is

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Speaker 1: if Facebook users are flocking to TikTok, should it be

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Speaker 1: considered competition, and if so, the more challenging landscape adds

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Speaker 1: muscle to fight a pending government lawsuit against Meta. Since

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Speaker 1: Meta's earnings, Miss CEO Mark Zuckerberg has cited competition from

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Speaker 1: TikTok as a threat. That claim is that the heart

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Speaker 1: of the FTC's antitrust lawsuit against Meta, which says it's

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Speaker 1: a monopoly with no true competition. Live in New York,

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Speaker 1: I'm gonna need a young Bloomberg Daybreak, All we need

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Speaker 1: a thanks. Turning to the economy, now we get the

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Speaker 1: payrolls report for January this morning. The consensus calls for

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Speaker 1: a gain of one twenty five thousand jobs. Bloomberg's Viny

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Speaker 1: Delt Judas reports the prior report covering December registered the

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Speaker 1: weakest showing since December twenty twenty. January's data could be

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Speaker 1: even weaker. The White House has said so much in

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Speaker 1: a rare announcement earlier in the week Bloomberg Economics. As

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Speaker 1: the government collected data, one Omicron cases we're peaking when

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Speaker 1: confirmed infections were rising faster than the delta wave. Then

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Speaker 1: he Delt Bloomberg Daybreak, All, Vinnie, thank you, and turning

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Speaker 1: to politics, overseas. The crisis in golfing UK Prime Minister

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Speaker 1: Boris Johnson has gotten worse. For top ads have resigned

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Speaker 1: in the wake of the Party Gates scandal. And that's

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Speaker 1: the five things you need to notice start your day.

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Speaker 1: Brought to you by Interactive Brokers and SMP futures Again

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Speaker 1: they've turned lower, down about four points down, futures down

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Speaker 1: a hundred thirty nine. They've also turned lower, while nowesday

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Speaker 1: futures remain higher, up eighties six or six tenths of

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Speaker 1: a per cent. And straight ahead your latest local headlines

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

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Speaker 1: thanks sixty three on Wall Street, fifty three degrees in

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Speaker 1: Central Park, temperatures falling through the day. We got a

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Speaker 1: lot of accidents to get too shortly. First Michael Barr

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Speaker 1: with more on what's going on in New York and

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Speaker 1: around the world. Michael, thank you very much. Nathan. President

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Speaker 1: Biden met with New York City Mayor Eric Adams and

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00:23:53,960 --> 00:23:56,439
Speaker 1: Governor Kathy Hockle to talk about the recent wave of

430
00:23:56,520 --> 00:24:01,720
Speaker 1: gun violence, particularly among law enforcement officers. The President also

431
00:24:01,760 --> 00:24:05,040
Speaker 1: announced new initiatives that the White House says would help

432
00:24:05,160 --> 00:24:09,120
Speaker 1: fund community policing and crack down on gun crimes. I'll

433
00:24:09,200 --> 00:24:12,000
Speaker 1: keep doing everything in my power to make sure the

434
00:24:12,000 --> 00:24:15,399
Speaker 1: communities are safer, but Congress needs to do its part. Two.

435
00:24:16,000 --> 00:24:21,320
Speaker 1: Pass universal background checks, van assault weapons and high capacity magazines.

436
00:24:22,080 --> 00:24:25,240
Speaker 1: Close loopholes to keep out of the hands of domestic

437
00:24:25,280 --> 00:24:31,200
Speaker 1: abusers weapons, repeal a liability shield for gun manufacturers. Mayor

438
00:24:31,240 --> 00:24:34,960
Speaker 1: Adams talked about stopping the so called pipeline of illegal

439
00:24:35,040 --> 00:24:38,320
Speaker 1: guns from gun dealers in southern states. We need to

440
00:24:38,400 --> 00:24:40,920
Speaker 1: increase out funding to a t F so they can

441
00:24:41,280 --> 00:24:44,440
Speaker 1: give us the sources of these guns that are coming

442
00:24:44,480 --> 00:24:48,600
Speaker 1: into our city and cities. Mayor Adams spoke on ABC's Nightline.

443
00:24:49,040 --> 00:24:51,840
Speaker 1: The winter storm stretching across the country is wreaking havoc

444
00:24:52,040 --> 00:24:55,800
Speaker 1: on roads. Parts of the Tri state area get ready

445
00:24:55,840 --> 00:24:59,320
Speaker 1: for winter weather advisories. New York City Mayor Eric Adams,

446
00:24:59,480 --> 00:25:03,040
Speaker 1: chief of HAVE Frank Corone, was subpoenut for documents and

447
00:25:03,080 --> 00:25:06,520
Speaker 1: a four point five million dollar federal civil racketeering lawsuit

448
00:25:06,800 --> 00:25:10,960
Speaker 1: over alleged fraudulent insurance charges. Corona is not a defendant

449
00:25:10,960 --> 00:25:14,000
Speaker 1: in the suit and is an accused of misconduct. It's

450
00:25:14,280 --> 00:25:19,320
Speaker 1: part of an insurance giant Geko allegations that several New

451
00:25:19,440 --> 00:25:23,560
Speaker 1: York and New Jersey doctors and medical clinics submitted thousands

452
00:25:23,600 --> 00:25:28,600
Speaker 1: of fraudulent no fault insurance charges related to motor vehicle accidents.

453
00:25:28,920 --> 00:25:31,480
Speaker 1: The US is warning of a plot in which Russia

454
00:25:31,680 --> 00:25:35,600
Speaker 1: would say it is justified for an invasion of Ukraine,

455
00:25:35,960 --> 00:25:39,200
Speaker 1: Bloomberg said, Maxter has the story. The US A saying

456
00:25:39,240 --> 00:25:41,720
Speaker 1: that it has intel that Russia's plotting to release a

457
00:25:41,800 --> 00:25:46,560
Speaker 1: fake video purporting a Ukrainian attack on Russia. Defense Department

458
00:25:46,600 --> 00:25:51,000
Speaker 1: spokesman John Kirby, we do have information that it is

459
00:25:51,359 --> 00:25:53,399
Speaker 1: that that that the Russians are likely to want to

460
00:25:53,440 --> 00:25:57,320
Speaker 1: fabricate a pretext uh foreign invasion, which again is right

461
00:25:57,320 --> 00:25:59,920
Speaker 1: out of their playbook. And Kirby meanwhile says Russian troop

462
00:26:00,040 --> 00:26:04,120
Speaker 1: movements into Belarus are very troubling. In San Francisco, I'm

463
00:26:04,119 --> 00:26:07,000
Speaker 1: at Baxter Bloomberg Gay Break. Fourteen plaintiffs are suing New

464
00:26:07,040 --> 00:26:10,600
Speaker 1: York Governor Cathy Hocle and state Democratic lawmakers. The lawsuit

465
00:26:10,800 --> 00:26:13,159
Speaker 1: in the New York Supreme Court claims that the state's

466
00:26:13,200 --> 00:26:17,639
Speaker 1: new congressional and legislative maps are unconstitutional. Global News twenty

467
00:26:17,640 --> 00:26:19,800
Speaker 1: four hours a day on here and on Bloomberg Quick Take,

468
00:26:19,800 --> 00:26:22,359
Speaker 1: powered by more than twenty seven hundred journalists, analysts and

469
00:26:22,359 --> 00:26:24,520
Speaker 1: more than a hundred twenty countries. I'm Michael bar this

470
00:26:24,600 --> 00:26:31,760
Speaker 1: is Bloomberg, Nathan, Thank you, Michael. Almost six thirty six

471
00:26:31,760 --> 00:26:34,320
Speaker 1: on Wall Street, John Stashire has the Bloomberg Sports Update.

472
00:26:34,400 --> 00:26:36,800
Speaker 1: All right, if it's been thirty seven years since St.

473
00:26:36,880 --> 00:26:39,320
Speaker 1: John's and Georgetown played as the top two teams in

474
00:26:39,320 --> 00:26:41,840
Speaker 1: the country. Patrick Eween was then playing for the Hoyas.

475
00:26:41,920 --> 00:26:43,480
Speaker 1: Now he coaches them, and they haven't won a Big

476
00:26:43,480 --> 00:26:46,000
Speaker 1: East game all year. Red Storm one in DC nine

477
00:26:46,240 --> 00:26:49,240
Speaker 1: and seventies seven, Julian two, Pagny Scorch twenty seven points.

478
00:26:49,240 --> 00:26:51,919
Speaker 1: We're having a big year. On Staten Island, Wagner is

479
00:26:52,000 --> 00:26:55,240
Speaker 1: fifteen and two, nearly Blue one point halftime lead, but

480
00:26:55,720 --> 00:26:59,159
Speaker 1: two point when at Central Connecticut. The Seahawks twelve win

481
00:26:59,200 --> 00:27:01,440
Speaker 1: in a row. Next eight tonight in Utah, they'll try

482
00:27:01,480 --> 00:27:04,159
Speaker 1: to end a six game losing streight. Nix forget a

483
00:27:04,160 --> 00:27:06,719
Speaker 1: five game road trip tomorrow night at the Lakers, who

484
00:27:06,840 --> 00:27:09,520
Speaker 1: last night lost by one of the Clippers. The Lakers

485
00:27:09,640 --> 00:27:11,800
Speaker 1: or without Lebron James right now when they have dropped

486
00:27:11,880 --> 00:27:15,120
Speaker 1: nine of their last thirteen. Phoenix Suns went to Atlanta

487
00:27:15,520 --> 00:27:18,280
Speaker 1: forty one and nine winners of eleven or ow the Hawks,

488
00:27:18,320 --> 00:27:21,880
Speaker 1: Pete The Sun's Trey Young scored forty three points. Doug Peterson,

489
00:27:21,920 --> 00:27:24,240
Speaker 1: the former Philadelphia coach, named the new coach of the

490
00:27:24,320 --> 00:27:28,080
Speaker 1: Jacksonville Jaguars, the sixth higher of the offseason. All six

491
00:27:28,400 --> 00:27:31,240
Speaker 1: are white. Although Byron Leftward was a finalist for the

492
00:27:31,320 --> 00:27:34,320
Speaker 1: Jacks job, and he took himself out of consideration reportedly

493
00:27:34,359 --> 00:27:36,800
Speaker 1: did not want to work with the Jacks GM Trent Faulcon.

494
00:27:36,880 --> 00:27:40,879
Speaker 1: Still only one African American NFL coach, Brian Flores, is

495
00:27:40,920 --> 00:27:43,280
Speaker 1: said to be a finalist for the jobs in Houston

496
00:27:43,400 --> 00:27:46,040
Speaker 1: and New Orleans, even though Flora has just sued the

497
00:27:46,160 --> 00:27:49,480
Speaker 1: NFL and three teams, including Giants, for racism and their

498
00:27:49,560 --> 00:27:53,600
Speaker 1: hiring practices. The Giants released a strongly worded statement defending

499
00:27:53,640 --> 00:27:56,240
Speaker 1: the way they handled their recent coaching search. They say

500
00:27:56,320 --> 00:27:59,439
Speaker 1: Flora's was a strongly considered candidate right up to the

501
00:27:59,440 --> 00:28:01,720
Speaker 1: point they just added to hire Brian Dable. Dave Ball

502
00:28:01,800 --> 00:28:04,919
Speaker 1: has hired Mike Kafka to be his offense coordinator if

503
00:28:04,960 --> 00:28:09,320
Speaker 1: he had been with Kansas City Johns. Sash Bloomberg. All right, John,

504
00:28:09,359 --> 00:28:11,359
Speaker 1: thanks six thirty seven on Wall Street. Time to take

505
00:28:11,359 --> 00:28:12,960
Speaker 1: a look at stock, some of the names moving in

506
00:28:13,040 --> 00:28:15,320
Speaker 1: the pre market. It has been a good time to

507
00:28:15,440 --> 00:28:18,680
Speaker 1: be Bloomberg Radio on TV Markets correspondent Creedy Gupta because

508
00:28:18,680 --> 00:28:21,480
Speaker 1: the moves have been crazy this week. Creedy, they have

509
00:28:21,680 --> 00:28:23,560
Speaker 1: been and then I take one day off and all

510
00:28:23,640 --> 00:28:26,040
Speaker 1: the action happens in one day. Not better at all,

511
00:28:26,560 --> 00:28:30,440
Speaker 1: But let's not. Let's talk about the rebound here, because

512
00:28:30,480 --> 00:28:32,199
Speaker 1: you are seeing future start to dip a little bit.

513
00:28:32,200 --> 00:28:34,760
Speaker 1: The SMB five hundred many features are about flat on

514
00:28:34,840 --> 00:28:37,320
Speaker 1: the session, but you do still have that massive outperformance

515
00:28:37,359 --> 00:28:39,000
Speaker 1: in the NASTAC one hundred features, and a lot of

516
00:28:39,040 --> 00:28:41,000
Speaker 1: it comes from underneath the hood, a lot of those

517
00:28:41,040 --> 00:28:43,200
Speaker 1: big tech names. Let's just start with an update on

518
00:28:43,360 --> 00:28:47,000
Speaker 1: where Metal platforms FB is your taker, uh dropping after

519
00:28:47,160 --> 00:28:49,200
Speaker 1: it dropped. Execius me rising up four tenths of a

520
00:28:49,280 --> 00:28:52,520
Speaker 1: percent after a race two hundred fifty one billion dollars

521
00:28:52,600 --> 00:28:55,080
Speaker 1: in value with the biggest white out in history, also

522
00:28:55,160 --> 00:28:58,680
Speaker 1: the biggest one day crash in stock market history. Ever,

523
00:28:58,920 --> 00:29:00,880
Speaker 1: that being said, you did see a lot of retail

524
00:29:00,920 --> 00:29:03,400
Speaker 1: investors by the dip, so you do have FBS your

525
00:29:03,440 --> 00:29:06,040
Speaker 1: taker up four tenths of a percent in the pre market.

526
00:29:06,280 --> 00:29:07,880
Speaker 1: But I think the real highlight is going to be

527
00:29:07,920 --> 00:29:10,040
Speaker 1: Amazon here A m C n is your taker up

528
00:29:10,080 --> 00:29:12,760
Speaker 1: eleven percent in the pre market. This comes after kind

529
00:29:12,800 --> 00:29:14,800
Speaker 1: of a triple whammy. They ramped up the price of

530
00:29:14,840 --> 00:29:18,320
Speaker 1: its flagship Prime membership offer. They also have strong cloud performance,

531
00:29:18,320 --> 00:29:21,560
Speaker 1: and on top of that, their EPs coming in. I

532
00:29:21,640 --> 00:29:24,440
Speaker 1: get this twenty seven dollars and seventy cents. The estimate

533
00:29:24,800 --> 00:29:26,680
Speaker 1: was just shy of four dollars, Nathan. That kind of

534
00:29:26,760 --> 00:29:29,160
Speaker 1: beat you just don't see anymore. So that volatility from

535
00:29:29,240 --> 00:29:31,520
Speaker 1: yesterday kind of looks like it might get reverse today

536
00:29:31,760 --> 00:29:34,320
Speaker 1: thanks Amazon. Another big tech player here is going to

537
00:29:34,360 --> 00:29:36,959
Speaker 1: be Snapchat s n A p S your ticker up

538
00:29:37,080 --> 00:29:40,560
Speaker 1: forty seven percent those share staring, of course, after its

539
00:29:40,640 --> 00:29:44,600
Speaker 1: first profitable quarter was reported, and Twitter t W t

540
00:29:44,920 --> 00:29:46,760
Speaker 1: R is up and sent to the up five and

541
00:29:46,760 --> 00:29:48,480
Speaker 1: a half percent in the pre market. Nathan. Now you

542
00:29:48,560 --> 00:29:51,600
Speaker 1: mentioned the drop of the Dow futures this morning. What's

543
00:29:51,600 --> 00:29:54,720
Speaker 1: behind that, Well, Clarx is gonna be a major player there.

544
00:29:54,800 --> 00:29:58,440
Speaker 1: Clx is your ticker down thirteen percent, saying it's profits

545
00:29:58,480 --> 00:30:01,560
Speaker 1: are gonna take a bigger hit the previously anticipated once again,

546
00:30:01,640 --> 00:30:04,280
Speaker 1: really citing those commodity costs. But they also said this

547
00:30:04,400 --> 00:30:06,320
Speaker 1: is the kicker of her it's gonna take several years

548
00:30:06,640 --> 00:30:10,240
Speaker 1: to rebuild their margin. Jefferies coming out and saying the

549
00:30:10,280 --> 00:30:12,280
Speaker 1: shares are likely in the penalty box and once against

550
00:30:12,280 --> 00:30:16,120
Speaker 1: see LX down, Nathan. I'll wrap it up with another

551
00:30:16,240 --> 00:30:18,800
Speaker 1: major dropper here, and that is a forward. The tickers

552
00:30:18,880 --> 00:30:21,320
Speaker 1: just the letter F down six percent in the pre market.

553
00:30:21,600 --> 00:30:25,160
Speaker 1: This comes after their fourth quarter earnings missed estimates and

554
00:30:25,280 --> 00:30:27,960
Speaker 1: of course comes with higher commodity costs once again. So

555
00:30:28,080 --> 00:30:30,680
Speaker 1: you can really see that plaguing a lot of these

556
00:30:30,920 --> 00:30:34,640
Speaker 1: more capital intensive companies. Alright, Bloomberg Radio on TV Markets

557
00:30:34,640 --> 00:30:37,200
Speaker 1: correspondent Credy Gupta, don't take any more days off, but

558
00:30:37,720 --> 00:30:41,440
Speaker 1: I guess we can't, yeah, exactly, although we are still

559
00:30:41,480 --> 00:30:44,840
Speaker 1: seeing volatility even when you clock back in. Credy Gupta

560
00:30:45,000 --> 00:30:46,600
Speaker 1: with us this morning, and as we take a look

561
00:30:46,640 --> 00:30:49,920
Speaker 1: at stocks as a whole ahead of the Friday morning open,

562
00:30:50,000 --> 00:30:53,600
Speaker 1: mixed action now with SMP futures now swinging between games

563
00:30:53,640 --> 00:30:55,600
Speaker 1: and losses, they're not a little changed to the upside.

564
00:30:55,640 --> 00:30:58,360
Speaker 1: Dow futures are still lower down a hundred five points.

565
00:30:58,600 --> 00:31:02,000
Speaker 1: NASTAC futures still the green up eighty five points. That's

566
00:31:02,040 --> 00:31:04,720
Speaker 1: a gain of six tenths percent. The tenure up four

567
00:31:04,840 --> 00:31:07,920
Speaker 1: thirty seconds ahead of Jobs Friday, the yield one point

568
00:31:08,000 --> 00:31:10,280
Speaker 1: eight one on the tenure note, yield on the two

569
00:31:10,400 --> 00:31:14,040
Speaker 1: year one point to one percent. An update for the

570
00:31:14,120 --> 00:31:18,040
Speaker 1: nation's capital ahead of this Job's report. Bloomberg Government's Emily

571
00:31:18,120 --> 00:31:23,520
Speaker 1: Wilkins is with us. Next. This is Bloomberg Bloomberg eleven

572
00:31:23,560 --> 00:31:26,160
Speaker 1: three oh weather winter weather Advisory today with rain changing,

573
00:31:26,200 --> 00:31:28,520
Speaker 1: the sleet and snow and temperatures falling through the day.

574
00:31:28,600 --> 00:31:32,000
Speaker 1: Tomorrow it will be mostly sunny, upper twenties, sunshine, low

575
00:31:32,120 --> 00:31:38,000
Speaker 1: thirties for Sunday currently clouds fifty three degrees. Markets, headlines

576
00:31:38,080 --> 00:31:41,080
Speaker 1: and breaking news twenty four hours a day at Bloomberg

577
00:31:41,120 --> 00:31:44,520
Speaker 1: dot Com, the Bloomberg Business at and at Bloomberg Quick Tape.

578
00:31:45,080 --> 00:31:53,960
Speaker 1: She's a Bloomberg Business Flash and I'm fair in Moscow

579
00:31:54,160 --> 00:31:57,360
Speaker 1: and now Stack futures are holding onto their games this morning.

580
00:31:57,440 --> 00:31:59,160
Speaker 1: Let's go to the first word breaking news dask for

581
00:31:59,200 --> 00:32:02,880
Speaker 1: today's morning all. Here's Bill Maloney, Bill, good morning, and

582
00:32:03,120 --> 00:32:05,800
Speaker 1: good morning, Karen. Us futures are trading mixed right now

583
00:32:05,880 --> 00:32:08,800
Speaker 1: with down features down a hundred forty points. SP is

584
00:32:08,880 --> 00:32:11,080
Speaker 1: lower by seven but like you said, as day, futures

585
00:32:11,120 --> 00:32:14,080
Speaker 1: in the green of fifty eight, the US ten year

586
00:32:14,080 --> 00:32:16,560
Speaker 1: old at one point eight two percent, Gold and oil

587
00:32:16,600 --> 00:32:19,640
Speaker 1: are both trading higher. Bitcoin is up by two percent,

588
00:32:19,760 --> 00:32:23,080
Speaker 1: and European markets start trading lower this morning. On the

589
00:32:23,200 --> 00:32:25,600
Speaker 1: US economic front, y eight thirty non farm pay rolls

590
00:32:25,720 --> 00:32:28,320
Speaker 1: and after the bellist night, Amazon had a huge profit.

591
00:32:28,400 --> 00:32:32,400
Speaker 1: Beat on the Cloud is also raising prime prices, shares

592
00:32:32,440 --> 00:32:35,680
Speaker 1: her up eleven percent pre market, Ford EPs miss estimates,

593
00:32:35,920 --> 00:32:39,640
Speaker 1: Snapper revenue forecast beat estimates, and Pinterest is surging pre

594
00:32:39,760 --> 00:32:43,040
Speaker 1: market after its numbers. Regarding some of the earnings this morning,

595
00:32:43,120 --> 00:32:46,240
Speaker 1: the General and EPs beat smates and eating EPs was

596
00:32:46,320 --> 00:32:49,120
Speaker 1: in line. In other news, Tiger Global raised more than

597
00:32:49,200 --> 00:32:52,720
Speaker 1: eleven billion for its latest VC fund and wrapping things

598
00:32:52,840 --> 00:32:55,720
Speaker 1: up Excellon was cook unitral over at Goldman Sachs, General

599
00:32:55,800 --> 00:32:58,960
Speaker 1: Dynamics raised equate at Morgan Stanley, and get Lad was

600
00:32:59,040 --> 00:33:03,200
Speaker 1: raised outperform over at RBC Live. From the first taking

601
00:33:03,240 --> 00:33:05,680
Speaker 1: news discom Bill Maloney Camp all right, Bill, thank you

602
00:33:05,760 --> 00:33:08,120
Speaker 1: and your life breaking news of your Bloomberg type squawk

603
00:33:08,200 --> 00:33:10,600
Speaker 1: on your terminal scue. You a w K and that's

604
00:33:10,600 --> 00:33:13,120
Speaker 1: a Bloomberg business flash. Now here's Nuchael Barr with more

605
00:33:13,200 --> 00:33:15,880
Speaker 1: on what's going on around the world. Michael Karen, thank

606
00:33:15,920 --> 00:33:18,880
Speaker 1: you very much. Russian President Vladimir Putin has arrived in

607
00:33:19,000 --> 00:33:22,360
Speaker 1: Beijing for the opening of the Beijing Olympic Games. You'll

608
00:33:22,400 --> 00:33:26,160
Speaker 1: also hold talks with Chinese counterparts Jing Ping mean while

609
00:33:26,200 --> 00:33:29,040
Speaker 1: the US leads. After the official opening day of the

610
00:33:29,080 --> 00:33:32,440
Speaker 1: team figure skating event at the Games, President Biden paid

611
00:33:32,480 --> 00:33:34,880
Speaker 1: a visit to New York City and met with Mayor

612
00:33:35,040 --> 00:33:39,080
Speaker 1: Eric Adams about gun violence. Bidened outline that his administration

613
00:33:39,240 --> 00:33:42,560
Speaker 1: wants to end the flow of illegal weapons. Snow and

614
00:33:42,680 --> 00:33:45,960
Speaker 1: ice a storm crippling air travel from Texas to the

615
00:33:46,080 --> 00:33:49,520
Speaker 1: East Coast. Thousands of flights have been canceled and more

616
00:33:49,680 --> 00:33:52,560
Speaker 1: are expected today. In the NBA and the Warriors won

617
00:33:53,080 --> 00:33:55,280
Speaker 1: Global News twenty four hours a day on air and

618
00:33:55,480 --> 00:33:57,960
Speaker 1: on Bloomberg. Quit Take powered by more than twenty seven

619
00:33:58,320 --> 00:34:01,320
Speaker 1: journalists and analysts and more than hundred twenty countries. How

620
00:34:01,400 --> 00:34:05,120
Speaker 1: Michael Barr, this is Bloomberg. The following commentary is from

621
00:34:05,200 --> 00:34:09,560
Speaker 1: Bloomberg opinion. States should save their surpluses, not spend them.

622
00:34:09,760 --> 00:34:12,719
Speaker 1: I'm Carl Smith of columns for Bloomberg Opinion. Well, the

623
00:34:12,760 --> 00:34:15,400
Speaker 1: few silver linings from the pandemic is that state governments

624
00:34:15,440 --> 00:34:18,760
Speaker 1: are a washing money. Many are spending it on education, infrastructure,

625
00:34:18,920 --> 00:34:21,200
Speaker 1: and even tax cuts. But a better idea would be

626
00:34:21,280 --> 00:34:22,880
Speaker 1: to save as much money as they can in their

627
00:34:22,960 --> 00:34:26,440
Speaker 1: rainy day funds. The pandemic causes surge and consumers spending

628
00:34:26,480 --> 00:34:29,600
Speaker 1: on goods which are taxable into the sales tax. However,

629
00:34:29,680 --> 00:34:32,360
Speaker 1: one way or another, that surge has to unwind itself,

630
00:34:32,520 --> 00:34:34,440
Speaker 1: and when it does, states may be hit with a

631
00:34:34,480 --> 00:34:37,440
Speaker 1: fiscal crunch. They should be preparing for that eventuality now,

632
00:34:37,880 --> 00:34:40,719
Speaker 1: I'm Carl Smith. For more opinion, please go to Bloomberg

633
00:34:40,880 --> 00:34:43,960
Speaker 1: dot com, Slash Opinion or O P I n go

634
00:34:44,360 --> 00:34:48,120
Speaker 1: on the Bloomberg terminal. These has been Bloomberg Opinion and

635
00:34:48,160 --> 00:34:50,960
Speaker 1: Bloomberg Opinion commentaries can be heard every weekday at this

636
00:34:51,080 --> 00:34:53,640
Speaker 1: time and terminal customers can read more it O P

637
00:34:53,920 --> 00:34:57,040
Speaker 1: I n go. It is six fifty on one Street.

638
00:34:57,080 --> 00:34:59,120
Speaker 1: We turned to news in science and technology now with

639
00:34:59,200 --> 00:35:01,600
Speaker 1: the Bloomberg and a i T STEM report brought to

640
00:35:01,680 --> 00:35:05,719
Speaker 1: you by New Jersey Institute of Technology Transforming Computing professionals

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Speaker 1: and to data scientists to meet demanded this fast growing field.

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Speaker 1: Learn more at n j I, T, DOT E, d

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Speaker 1: U slash data science now Here's just making news and science, Technology, engineering,

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Speaker 1: and math. COVID vaccinations among children ages five to eleven

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Speaker 1: have fallen to the lowest levels since the shots were

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Speaker 1: first approved. It's a sign that parental enthusiasm for the

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Speaker 1: shots may be running low, even as authorities consider expending

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Speaker 1: the shots to even younger children. Kids five to eleven

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00:35:32,280 --> 00:35:35,120
Speaker 1: have gotten a shot compared with seventy five of the

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Speaker 1: total population. US regulators are considering rule changes in the

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Speaker 1: wake of the meme stock mania. SEC chair Gary Gensler

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00:35:43,120 --> 00:35:45,840
Speaker 1: told Bloomberg the agency is said to take up a

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Speaker 1: range of policy changes, including the time it takes to

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Speaker 1: settle stock trades. The time lag was blamed for the

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Speaker 1: decision by Robin Hood and other platforms to restrict some

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Speaker 1: trading and meme stocks when demands searched and the word

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Speaker 1: of and the work rather of creeting, a possible US

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Speaker 1: digital dollar is injuring ahead with initial research into the

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Speaker 1: code that eventually could support such a currency. The Boston

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Speaker 1: FED and collaboration with M I T s Digital Currency

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Speaker 1: Initiative released a thirty five page white paper on the

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Speaker 1: findings of its technological research, which focused on developing software

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Speaker 1: to process transactions. The researchers created and examined two possible

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Speaker 1: code basis, including one that was capable of handling one

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Speaker 1: point seven million transactions per second and as a Bloomberg

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Speaker 1: n j I t STEM report. Nathan Okay, Karen, thank you.

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Speaker 1: We're live from the Bloomberg Interactive Brokers studios where it's

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Speaker 1: coming up to six fifty two on Wall Street Time

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Speaker 1: Now to check what's going on in d C. Some

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Speaker 1: of the top stories from our nation's capital include President

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Speaker 1: Biden declaring the leader of Islamic State taken off the battlefield,

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Speaker 1: a Ukraine briefing sparking more urgency for sanctions from against

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Speaker 1: Russia in Congress, and the Republican National Committee considering a

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Speaker 1: censure resolution against two prominent critics of former President Donald Trump.

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Speaker 1: Also making news, a put for a nine eleven style

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Speaker 1: commission for COVID nineteen. Let's bringing Bloomberg government reporter Emily

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Speaker 1: Wilkins from the nation's capital a COVID nineteen commission. Emily, Yes,

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Speaker 1: so this would be something that would be looking into

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Speaker 1: the origins of COVID nineteen as well as how the

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Speaker 1: US has really handled this pandemic. And this is the

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Speaker 1: most musy thing might be that this is a bipartisan idea.

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Speaker 1: In the Senate, Senators Patty Murray and Senators Richard Burr,

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Speaker 1: both of them sit on a panel that is responsible

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Speaker 1: for overseeing the nations Help Care, and they have proposed

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Speaker 1: this idea. It's still just an idea at this point.

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Speaker 1: They're working on getting support from their collegue. Senator Patty

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Speaker 1: Murray said she understands it's a pretty by pretty partisan climate,

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Speaker 1: but the idea would be to really have a serious accounting,

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Speaker 1: the serious by partiers in accounting of what has happened

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Speaker 1: during the pandemic. Um. There have been a couple of

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Speaker 1: other panels that have been established to look into this,

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Speaker 1: notably one in the House, but this one would sort

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Speaker 1: of have a more thorough and comprehensive review, uh, a

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Speaker 1: little bit more of a look back. The other panel

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Speaker 1: addressing COVIDE in the House was established in the middle

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Speaker 1: of the pandemic. Uh, it helps of getting people aid

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Speaker 1: and addressing sort of the short term. Uh. This this

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Speaker 1: one would be more comprehensive, but of course still a

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Speaker 1: long way to go in a partisan environment. Uh that

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Speaker 1: is focused on a number of other things right now.

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Speaker 1: Interesting that it would be looking back, presumably on the

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Speaker 1: response from the Biden administration. Have we heard a response

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Speaker 1: on this idea from the White House. So at this point,

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Speaker 1: one of the key things here is that the reason

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Speaker 1: there hasn't been another commission that's been like this is

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Speaker 1: because Republicans are afraid that this is just going to

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Speaker 1: be an opportunity for Democrats to really just rehash um

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Speaker 1: the failures of the Trump administration. And so this is

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Speaker 1: going to be what lawmakers our pitching is that is

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Speaker 1: something where you're going to look at Fiday and you're

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Speaker 1: going to look at Trump agains. The Biden administ station

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Speaker 1: has you know, acknowledged that they have failed on some issues.

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Speaker 1: They acknowledged they failed on having this test recently about

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Speaker 1: making sure they had those at home testing kits Um.

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Speaker 1: So I definitely think there is concerning Congress for both

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Speaker 1: how the Biden and Trump administrations responded, and I think

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Speaker 1: that's something that lawmakers on both parties are are getting

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Speaker 1: more comfortable with the idea of looking at all, right,

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Speaker 1: let's turn to the pressing matters, including the sanctions push

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Speaker 1: against Russia, with the crisis over Ukraine continuing. What's the

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Speaker 1: latest on that. The lawmakers went bipartisan briefings yesterday on

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Speaker 1: Ukraine and that definitely escalated that sense of urgency that

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Speaker 1: they had to do something, they had to move and

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Speaker 1: they had to act on Russia, not just when they

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Speaker 1: invade Ukraine, but even have sanctions before because of simply

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Speaker 1: while Putin has been maneuvering with the troops on the border,

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Speaker 1: um negotiations have kind of flowed just because Joe Biden

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Speaker 1: was trying to look for diplomatic options. Uh, but the

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Speaker 1: lawmakers are really beginning to call less around the idea

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Speaker 1: that sanctions could be needed. Now we're not going to

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Speaker 1: get any legislation though in the in the short term

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Speaker 1: of lawmakers have left town. Uh, but send it left yesterday.

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Speaker 1: The House is going to be leading today and they

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Speaker 1: won't be back until next week. And of course, you

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Speaker 1: know this is a situation where the White House is

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Speaker 1: sentence they could expect Plutin to invade at any time,

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Speaker 1: so it will be interesting to see how they prioritize

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Speaker 1: this along with major legislation dealing with US and China

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Speaker 1: competitiveness when they come back next week. In the last minute,

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Speaker 1: here there's a resolution coming against the two Republicans on

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Speaker 1: the January sixth Commission. Yes, uh, they are going expected

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Speaker 1: to consider uh the center US representatives lu Cheney Adam Pindinger.

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Speaker 1: If you'll remember, both of these are Republicans, their vocal

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Speaker 1: critics of Donald Trump's they voted for his impeachments. They

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Speaker 1: are sitting on January six committee that Republicans are are

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Speaker 1: as a whole, not fans of UM. And this is

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Speaker 1: what they were initially talking about booting the two from

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Speaker 1: the party. But this resolution is just going to be

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Speaker 1: sort of a centure, a bit of a slap on

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Speaker 1: the wrist for both of them. UM, and both Luke

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Speaker 1: Jennie and Adam Kinzinger has said, all right, you know,

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Speaker 1: if this is the place that we're going to pay,

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00:41:19,320 --> 00:41:22,200
Speaker 1: we're willing to pay it. Uh. Kin Singer has announced

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00:41:22,239 --> 00:41:24,839
Speaker 1: that he's not planted on running again for his housekeep

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00:41:25,200 --> 00:41:28,279
Speaker 1: was Jenny still doesn't tend to and it's expected to

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Speaker 1: face a very difficult primary, sort of one that will

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00:41:32,120 --> 00:41:36,600
Speaker 1: really test the Republican establishment versus the Republican wing of

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Speaker 1: the party that's quite loyal to president former President Trump.

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Speaker 1: All right, Bloomberg Government reporter Emily Wilkins with us from Washington,

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Speaker 1: Karen Nathan, It is a fifty six on Wall Street.

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Speaker 1: This is Bloomberg day break. In February is Black History Month,

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Speaker 1: and every day this month we're celebrating significant moments in

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Speaker 1: US black history. Now if your installment for Friday, February fourth,

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Speaker 1: here is Bloomberg's rendy too Young on this day in

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Speaker 1: Black history. In Republican Oklahoma Representative Julius Caesar, also known

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Speaker 1: as j. C. Watts, became the first African American to

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Speaker 1: respond to a State of the Union address. He delivered

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00:42:11,560 --> 00:42:14,400
Speaker 1: the GOP response to then President Bill Clinton's State of

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Speaker 1: the Union. Watts was the first black representative elected from

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Speaker 1: Oklahoma and the first Republican to win the district in

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Speaker 1: seventy two years. He was also one of two black

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Speaker 1: Republicans in Congress. In his freshman term, Watts quickly became

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Speaker 1: one of the GOP's most visible spokesman. That's today in

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Speaker 1: black history, I'm nid to young Bloomberg Radio. All right, Renido,

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Speaker 1: thank you, and again, nastag futures are higher this morning

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Speaker 1: at forty three points, while LESNP futures and NOW futures

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Speaker 1: have turned lower, and Bloomberg surveillance is a straight ahead

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Speaker 1: for Nathan Hagar, I'm Karen Moscow and this is Bloomberg