1 00:00:02,080 --> 00:00:05,359 Speaker 1: Live from the Bloomberg Interactive Burger Studios is a Bloomberg 2 00:00:05,440 --> 00:00:08,799 Speaker 1: day Break for a Tuesday, November twenty nine. Coming up 3 00:00:08,840 --> 00:00:12,600 Speaker 1: this hour. Markets react as the turmoil in China eases, 4 00:00:12,920 --> 00:00:15,640 Speaker 1: Fed officials stress more rate hikes around the way. The 5 00:00:15,640 --> 00:00:19,000 Speaker 1: Biden administration asked Congress to force a rail deal despite 6 00:00:19,079 --> 00:00:22,200 Speaker 1: union objections, and Elon Musk has a public spad with 7 00:00:22,360 --> 00:00:27,000 Speaker 1: Twitter's top advertiser Apple. The NYPD buses a multi million 8 00:00:27,040 --> 00:00:30,600 Speaker 1: dollar operation of counterfeit goods. Plus the Senate bill protecting 9 00:00:30,720 --> 00:00:33,800 Speaker 1: same sex marriage is set to pass today. On Michael 10 00:00:33,800 --> 00:00:37,400 Speaker 1: ware More, John Stashwar Sports, the Red Hot Devils beat 11 00:00:37,440 --> 00:00:39,839 Speaker 1: the Rangers, Nets beat the Magic in its winner go 12 00:00:40,000 --> 00:00:44,720 Speaker 1: home for the US today at the World Cup. That's 13 00:00:44,720 --> 00:00:48,680 Speaker 1: all trading ahead on Bloomberg day Break on Bloomberg elevent Tree, 14 00:00:48,680 --> 00:00:52,960 Speaker 1: on New York, Bloomberg N one, Washington, d C, Bloomberg 15 00:00:52,960 --> 00:00:56,680 Speaker 1: one oh six one, Boston, Bloomberg nine sixties and Francisco 16 00:00:57,160 --> 00:01:00,880 Speaker 1: Sirius XM one nineteen and around the world on Bloomberg 17 00:01:00,960 --> 00:01:08,200 Speaker 1: Radio Dot Carmen via The Bloomberg Business. Good Morning, I'm 18 00:01:08,280 --> 00:01:11,399 Speaker 1: Nathan Hagar and I'm Karen Moscow. When US dock index 19 00:01:11,480 --> 00:01:13,800 Speaker 1: futures are on the rise this morning. We're coming up 20 00:01:13,800 --> 00:01:15,360 Speaker 1: to six and one on Wall Street, and we checked 21 00:01:15,360 --> 00:01:17,840 Speaker 1: the markets every fifteen minutes throughout the trading day. On 22 00:01:17,880 --> 00:01:21,399 Speaker 1: bloomberg S and P futures up ten boys Dow futures 23 00:01:21,440 --> 00:01:24,560 Speaker 1: that will change nowsday futures of fifty five. The decks 24 00:01:24,560 --> 00:01:26,600 Speaker 1: in Germany is little changed as well. The ten year 25 00:01:26,640 --> 00:01:29,640 Speaker 1: treasury up eight thirty seconds you three point six four percent, 26 00:01:30,000 --> 00:01:32,120 Speaker 1: and the yield on the two year four point four 27 00:01:32,200 --> 00:01:34,759 Speaker 1: two per cent, Nathan Karen, We'll get back to markets 28 00:01:34,760 --> 00:01:36,320 Speaker 1: in a minute, but first you want to update you 29 00:01:36,400 --> 00:01:39,200 Speaker 1: on the unrest in China. Health officials have held their 30 00:01:39,240 --> 00:01:43,240 Speaker 1: first briefing since protests over COVID restrictions began last week. 31 00:01:43,440 --> 00:01:46,520 Speaker 1: Bloomberg's Rebecca Chung Wilkins has the latest from Hong Kong. 32 00:01:46,800 --> 00:01:51,840 Speaker 1: We saw quite muted, if any activity overnight. UM we 33 00:01:51,920 --> 00:01:54,240 Speaker 1: saw a very heavy police present in a lot of 34 00:01:54,320 --> 00:01:58,520 Speaker 1: major Chinese cities like Beijing and Shanghai, um and in 35 00:01:58,720 --> 00:02:03,160 Speaker 1: pot that disneyd to quite a reduced effort. Um the briefing, 36 00:02:03,280 --> 00:02:06,880 Speaker 1: quite frankly say've are has steered away from really covertly 37 00:02:07,080 --> 00:02:09,799 Speaker 1: talking about the protest but there did seem to be 38 00:02:10,000 --> 00:02:14,400 Speaker 1: a somewhat sort of softening in tone from authorities, acknowledging 39 00:02:14,440 --> 00:02:17,959 Speaker 1: that some of the implementation of COVID controls has been 40 00:02:18,160 --> 00:02:22,040 Speaker 1: relatively strict. MERGERA Chen Wilkins reports China plans to speed 41 00:02:22,120 --> 00:02:24,920 Speaker 1: up vaccinations for the elderly, but it's stopping short of 42 00:02:25,000 --> 00:02:28,800 Speaker 1: enacting mandates well. Nathan Starks in Asia surge as unrest 43 00:02:28,880 --> 00:02:32,000 Speaker 1: over COVID curbs ease. Hong Kong's Hang Sang Index rally 44 00:02:32,040 --> 00:02:34,520 Speaker 1: more than five percent, while Starks in China game three 45 00:02:34,520 --> 00:02:37,320 Speaker 1: percent to get the recount from Bloomberg's JULIETT. Sally in 46 00:02:37,400 --> 00:02:40,560 Speaker 1: Singapore Good Morning, Juliet, Good Morning Nathan and Karen Shares 47 00:02:40,639 --> 00:02:42,800 Speaker 1: rallied in Hong Kong and on the mainland, as some 48 00:02:42,880 --> 00:02:46,000 Speaker 1: investors speculated that the protests may hasten has shift away 49 00:02:46,040 --> 00:02:49,040 Speaker 1: from COVID zero policies. Traders also took hard from the 50 00:02:49,080 --> 00:02:52,359 Speaker 1: lifting of China's multi year ban on share sales by builders. 51 00:02:52,680 --> 00:02:55,200 Speaker 1: China's tend Your Government bondy or advanced to its highest 52 00:02:55,240 --> 00:02:57,440 Speaker 1: level in a year, as support measures announced for the 53 00:02:57,440 --> 00:03:01,240 Speaker 1: property sector dented hopes of further monetary policy easing, and 54 00:03:01,280 --> 00:03:03,959 Speaker 1: the Japanese end rose, as did an index of emerging 55 00:03:04,000 --> 00:03:08,679 Speaker 1: market currencies in Singapore. Juliette Sally Bloomberg Daybreak. Thanks Juliette. 56 00:03:08,720 --> 00:03:11,280 Speaker 1: Let's take a look at US China relations now or 57 00:03:11,320 --> 00:03:14,600 Speaker 1: the response to Beijing's crackdown on protests so far has 58 00:03:14,639 --> 00:03:17,840 Speaker 1: been muted. Bloomberg's Ed Baxter has the story. The US 59 00:03:17,919 --> 00:03:20,720 Speaker 1: has spoken very strongly in the past about human rights, 60 00:03:21,040 --> 00:03:24,400 Speaker 1: and now National Security Council spokesman John Kirby says, a 61 00:03:24,480 --> 00:03:27,560 Speaker 1: watchful eye here. We're watching this closely as you might 62 00:03:27,560 --> 00:03:31,040 Speaker 1: expect we would, and again we continue to stand up 63 00:03:31,080 --> 00:03:33,680 Speaker 1: and support the right of peaceful protests. Um and I 64 00:03:33,720 --> 00:03:35,600 Speaker 1: think we're going to watch this closely and we'll see 65 00:03:35,600 --> 00:03:38,680 Speaker 1: where things go. Kirby says, the Biden administration does not 66 00:03:38,880 --> 00:03:42,560 Speaker 1: expect the protest to affect the supply chain or global economy. 67 00:03:42,880 --> 00:03:45,880 Speaker 1: In San Francisco, I'm at Baxter Bloomberg Daybreak, all right, 68 00:03:45,960 --> 00:03:49,280 Speaker 1: and thanks Meantime, President Biden and House figure Nancy Pelosi 69 00:03:49,320 --> 00:03:51,480 Speaker 1: are moving to prevent a shutdown to the US freight 70 00:03:51,560 --> 00:03:55,720 Speaker 1: railroad system. Sammy Morris has details from our Bloomberg newsroom 71 00:03:55,760 --> 00:03:59,280 Speaker 1: made Washington. President Biden asked Congress to intervene to block 72 00:03:59,320 --> 00:04:01,760 Speaker 1: a strike. VOWS is preparing to take up a bill 73 00:04:01,840 --> 00:04:05,600 Speaker 1: to impose a labor settlement despite some union's objections. Belosi 74 00:04:05,680 --> 00:04:08,680 Speaker 1: says they're making the move reluctantly, but they have to 75 00:04:08,760 --> 00:04:12,600 Speaker 1: avoid what she calls a catastrophic nationwide strike, which could 76 00:04:12,680 --> 00:04:16,000 Speaker 1: hurt the economy by crippling supply chains. A coalition of 77 00:04:16,040 --> 00:04:18,480 Speaker 1: more than four hundred business groups sent a letter to 78 00:04:18,520 --> 00:04:21,960 Speaker 1: congressional leaders urging them to step in. The strike deadline 79 00:04:22,040 --> 00:04:25,160 Speaker 1: is December nine in Washington. I maybe more as Bloomberg 80 00:04:25,200 --> 00:04:28,120 Speaker 1: Daybreak thanks Amy. Another major impact on the economy in 81 00:04:28,160 --> 00:04:30,720 Speaker 1: recent months has been higher interest rates, and now FED 82 00:04:30,760 --> 00:04:33,839 Speaker 1: officials are stressed in the Central Bank is not done hiking. 83 00:04:33,880 --> 00:04:37,200 Speaker 1: Here's New York Fed President John Williams further tightening ente 84 00:04:37,240 --> 00:04:40,160 Speaker 1: policy should help her still balance between demand and supply 85 00:04:40,400 --> 00:04:42,719 Speaker 1: and bring inflation back to two percent over the next 86 00:04:42,720 --> 00:04:45,560 Speaker 1: few years. It will take some time about fully confident 87 00:04:45,600 --> 00:04:48,040 Speaker 1: that will return to a sustaining period of Prince will 88 00:04:48,360 --> 00:04:50,640 Speaker 1: New York FED President John Williams spoke at a virtual 89 00:04:50,680 --> 00:04:53,240 Speaker 1: event hosted by the Economic Club of New York. At 90 00:04:53,279 --> 00:04:56,000 Speaker 1: the same time St. Louis Fed President James Bullard says 91 00:04:56,000 --> 00:04:59,479 Speaker 1: financial markets are underestimating the chance of more aggressive policy 92 00:04:59,520 --> 00:05:03,120 Speaker 1: next year. They're counting the first two fifty basis points 93 00:05:03,120 --> 00:05:05,760 Speaker 1: as if that was a tightening of monetary policy, but 94 00:05:05,880 --> 00:05:08,640 Speaker 1: really that's just getting up to the long run neutral 95 00:05:08,760 --> 00:05:11,960 Speaker 1: level of the policy rate. We've only recently moved into 96 00:05:11,960 --> 00:05:14,800 Speaker 1: restrictive territory, and we're going to have to move farther 97 00:05:14,960 --> 00:05:17,599 Speaker 1: in order to keep inflation under control. St. Louis FED 98 00:05:17,640 --> 00:05:20,239 Speaker 1: President Jim Bullard and other officials have signaled they planned 99 00:05:20,240 --> 00:05:23,559 Speaker 1: to raise rates by fifty basis points next month. Well, Nathan, 100 00:05:23,560 --> 00:05:26,640 Speaker 1: they're more scientists morning. The aggressive FED tightening could lead 101 00:05:26,640 --> 00:05:29,400 Speaker 1: to a recession. The gauge of global bonds measuring the 102 00:05:29,440 --> 00:05:32,080 Speaker 1: worldwide yield curve, has inverted for the first time in 103 00:05:32,120 --> 00:05:34,720 Speaker 1: at least two decades. The inversion of the yield curve 104 00:05:34,760 --> 00:05:37,800 Speaker 1: is typically seen as a prediction for a recession as 105 00:05:37,839 --> 00:05:41,200 Speaker 1: investors switch money to longer term bonds due to pessimism 106 00:05:41,240 --> 00:05:44,440 Speaker 1: over the short term outlook. Well, let's turn to crypto now, Karen. 107 00:05:44,480 --> 00:05:47,680 Speaker 1: The fallout from f t X continues. Block five is 108 00:05:47,720 --> 00:05:50,760 Speaker 1: the latest crypto firm to collapse. The digital asset lender 109 00:05:50,800 --> 00:05:53,280 Speaker 1: says it will use Chapter eleven to recover everything it's 110 00:05:53,279 --> 00:05:56,640 Speaker 1: owned by counterparties, including f t X, but Block five 111 00:05:56,680 --> 00:05:59,880 Speaker 1: acknowledges recoveries are likely to be delayed by the bankrupt 112 00:06:00,160 --> 00:06:02,880 Speaker 1: of f t X, and Elon Musk is on the 113 00:06:02,920 --> 00:06:07,279 Speaker 1: spotlight again This morning. Nathan, a billionaire, is publicly attacking Apple, 114 00:06:07,440 --> 00:06:11,200 Speaker 1: which is one of Twitter's top advertisers. Must said Apple 115 00:06:11,240 --> 00:06:14,000 Speaker 1: has cut its Twitter advertising and threatened to block this 116 00:06:14,120 --> 00:06:17,560 Speaker 1: social network from its app store. Kurt Wagner has more 117 00:06:17,600 --> 00:06:21,120 Speaker 1: from our Bloomberg nine sixty newsroom in San Francisco. The 118 00:06:21,160 --> 00:06:24,640 Speaker 1: app store is is probably the main way or one 119 00:06:24,720 --> 00:06:27,159 Speaker 1: of the main ways that most of its users get 120 00:06:27,160 --> 00:06:29,920 Speaker 1: the app get app updates. So you know, for example, 121 00:06:29,920 --> 00:06:31,719 Speaker 1: I believe the app would still work on my phone, 122 00:06:31,720 --> 00:06:34,040 Speaker 1: but in order to you know, get an updated version 123 00:06:34,400 --> 00:06:36,280 Speaker 1: I have an iPhone, I might have to you know, 124 00:06:36,320 --> 00:06:37,880 Speaker 1: figure out a way to download that from the web. 125 00:06:37,920 --> 00:06:39,840 Speaker 1: It's the kind of thing that's going to erode over 126 00:06:39,880 --> 00:06:42,200 Speaker 1: time and causes a lot of people to either stop 127 00:06:42,279 --> 00:06:45,080 Speaker 1: using Twitter or or you know, possibly have to move 128 00:06:45,080 --> 00:06:47,839 Speaker 1: to a different device. And so that's a huge issue. 129 00:06:47,839 --> 00:06:49,599 Speaker 1: And one of the reasons I tweeted that I think 130 00:06:49,680 --> 00:06:53,040 Speaker 1: Twitter needs Apple a lot more than Apple needs Twitter here, 131 00:06:53,080 --> 00:06:55,720 Speaker 1: and that's because Apple has the distribution that it's at 132 00:06:55,720 --> 00:06:59,840 Speaker 1: its fingertips. Bloomberg Technology reporter Kurt Wagner says Elon Musk 133 00:06:59,880 --> 00:07:03,120 Speaker 1: is firing back at Apple, asking whether it hates free speech. 134 00:07:03,560 --> 00:07:05,640 Speaker 1: Futures are higher, but giving back some of their gains. 135 00:07:05,680 --> 00:07:08,239 Speaker 1: Careeness and P futures are up seven point Stout futures 136 00:07:08,240 --> 00:07:11,840 Speaker 1: now little change that NASTAC futures are higher by forty 137 00:07:12,040 --> 00:07:16,080 Speaker 1: five points. Straight ahead your latest local headlines plus a 138 00:07:16,160 --> 00:07:23,720 Speaker 1: check of sports. You're listening to Bloomberg Daybreak six oh 139 00:07:23,720 --> 00:07:26,160 Speaker 1: seven on Wall Street, thirty seven degrees in Central Park. 140 00:07:26,320 --> 00:07:29,640 Speaker 1: Still got that closure westbound cross Bronx Jerome Avenue to 141 00:07:29,680 --> 00:07:32,000 Speaker 1: the Deacon Michael Bars here with what else is going 142 00:07:32,040 --> 00:07:34,000 Speaker 1: on in New York and around the world. Michael, thank 143 00:07:34,040 --> 00:07:36,280 Speaker 1: you very much. Nathan, the nyp D made a big 144 00:07:36,280 --> 00:07:40,400 Speaker 1: bus stopping at Counterfeit Goods Operation Police seized over ten 145 00:07:40,440 --> 00:07:43,960 Speaker 1: million dollars in knockoff merchandise from vendors on Canal Street. 146 00:07:44,400 --> 00:07:47,640 Speaker 1: During a news conference, officials set authorities had gotten several 147 00:07:47,680 --> 00:07:50,960 Speaker 1: complaints in Lower Manhattan about the fake purses, sneakers, and 148 00:07:51,000 --> 00:07:53,760 Speaker 1: other items being sold on the streets. M I p D. 149 00:07:53,920 --> 00:07:57,800 Speaker 1: Chief of Patrol Jeffrey Madrey, spoke to ABC seven sidewalks 150 00:07:57,800 --> 00:08:02,000 Speaker 1: were blocked. There was property everywhere, merchandise everywhere, and this 151 00:08:02,160 --> 00:08:05,880 Speaker 1: really impacts local businesses in a negative manner. Chief Madre 152 00:08:06,080 --> 00:08:09,760 Speaker 1: says seventeen people were arrested and three truckloads of counterfeit 153 00:08:09,840 --> 00:08:13,800 Speaker 1: items received. Five new Haven, Connecticut police officers were charged 154 00:08:13,880 --> 00:08:16,360 Speaker 1: yesterday and a June incident that left a thirty six 155 00:08:16,440 --> 00:08:20,600 Speaker 1: year old man paralyzed. Prosecuted say Randy Cox was handcuffed 156 00:08:20,600 --> 00:08:22,920 Speaker 1: and not wearing a seat belt when he flew head 157 00:08:22,920 --> 00:08:25,480 Speaker 1: first into the back of a police transport van when 158 00:08:25,520 --> 00:08:29,840 Speaker 1: the driver suddenly stopped. New Haven Mayor Justin Ellicker new 159 00:08:29,840 --> 00:08:33,959 Speaker 1: Haven is committed to accountability for all individuals involved in 160 00:08:34,000 --> 00:08:37,439 Speaker 1: this traffic incident. Mayor Elkers says the officers were charged 161 00:08:37,440 --> 00:08:41,120 Speaker 1: with reckless endangerment and cruelty. Meanwhile, Cox's family has followed 162 00:08:41,160 --> 00:08:44,160 Speaker 1: a one hundred million dollars civil suit against the officers 163 00:08:44,240 --> 00:08:47,760 Speaker 1: and the city. A Senate bill protecting same sex marriage 164 00:08:47,760 --> 00:08:51,160 Speaker 1: cleared another procedural hurdle last night. At amendment to the 165 00:08:51,240 --> 00:08:54,840 Speaker 1: Respect from Marriage Act would ensure it does not infringe 166 00:08:55,120 --> 00:08:59,080 Speaker 1: on religious rights and protections. Passage of the legislation is 167 00:08:59,120 --> 00:09:03,000 Speaker 1: expected today. Former Vice President Mike Penn said Donald Trump 168 00:09:03,040 --> 00:09:06,439 Speaker 1: showed poor judgment for dining last week at his Maralago 169 00:09:06,520 --> 00:09:10,560 Speaker 1: resort with rapper Ya and well known white nationalist Nick Fluentis. 170 00:09:10,720 --> 00:09:13,920 Speaker 1: Pence says his former boss should denounce their hateful rhetoric 171 00:09:13,960 --> 00:09:18,880 Speaker 1: without qualification. President Trump was wrong, uh to give a 172 00:09:19,840 --> 00:09:24,199 Speaker 1: white nationalist u um an anti semid and Holocaust Denierre 173 00:09:24,240 --> 00:09:27,200 Speaker 1: a seat at the table, and I think you should apologize. 174 00:09:27,559 --> 00:09:31,600 Speaker 1: Pennce spoke to News Nation Global News twenty four hours 175 00:09:31,600 --> 00:09:34,679 Speaker 1: a day on air and on Bloomberg Quicktake, powered by 176 00:09:34,679 --> 00:09:37,640 Speaker 1: more than twenty seven hundred journalist and analysts more than 177 00:09:37,640 --> 00:09:41,439 Speaker 1: one twenty countries. I'm Michael Barr, and this is Bloomberg 178 00:09:41,559 --> 00:09:49,000 Speaker 1: nither Okay, Michael, thanks six o nine on Wall Street 179 00:09:49,000 --> 00:09:52,439 Speaker 1: time for the Bloomberg Sports update Frontify Try state outis 180 00:09:52,480 --> 00:09:54,840 Speaker 1: John stash Our? All right, Nathan. First meeting of the 181 00:09:54,920 --> 00:09:57,439 Speaker 1: season between the Devils and Rangers, who are in the 182 00:09:57,520 --> 00:09:59,880 Speaker 1: NHL's Final four. Last season, Devils have not even been 183 00:10:00,040 --> 00:10:01,840 Speaker 1: the playoffs since two thousand and eight. Team, but no 184 00:10:01,960 --> 00:10:04,960 Speaker 1: doubt who the better team has been so far this season, 185 00:10:05,000 --> 00:10:08,200 Speaker 1: Devils are nineteen and four. They've won sixteen of seventeen. 186 00:10:08,200 --> 00:10:10,640 Speaker 1: They won five three at the Garden, coming back from 187 00:10:10,640 --> 00:10:13,520 Speaker 1: an early to nothing deficit at Barkley's forty five point 188 00:10:13,559 --> 00:10:16,679 Speaker 1: for Kevin Durambas only five shots nets Pete Orlando one 189 00:10:16,679 --> 00:10:18,480 Speaker 1: O nine one O two to get to five hundred. 190 00:10:18,559 --> 00:10:20,720 Speaker 1: Kyrie Irving had at twenty. VN Simmons, who has finally 191 00:10:20,760 --> 00:10:23,439 Speaker 1: been starting to play like he did with Philadelphia, heard 192 00:10:23,440 --> 00:10:25,920 Speaker 1: his knee. Day to day. Kembo Walker, the New York 193 00:10:26,000 --> 00:10:28,280 Speaker 1: native whose homecomings with the Knicks last season did not 194 00:10:28,400 --> 00:10:30,760 Speaker 1: go well, has signed with Dallas. The Man's hoping he 195 00:10:30,760 --> 00:10:34,120 Speaker 1: can fill the role Jalen Brunson had with them last season. 196 00:10:34,120 --> 00:10:37,480 Speaker 1: Brunson now course with the Knicks Yankee offseason goal try 197 00:10:37,480 --> 00:10:39,959 Speaker 1: and get better than Houston. But the Astros, who took 198 00:10:40,000 --> 00:10:42,760 Speaker 1: the Yankees out and won the World Series to sign 199 00:10:42,840 --> 00:10:45,120 Speaker 1: a free agent slugger jose A. Bray, who spent nine 200 00:10:45,160 --> 00:10:46,480 Speaker 1: years of the White Sox. He was the a l 201 00:10:46,600 --> 00:10:48,560 Speaker 1: m v P just a couple of years ago. Monday 202 00:10:48,600 --> 00:10:53,040 Speaker 1: Night Football, Pittsburgh one at Indianapolis to seventeen. The US 203 00:10:53,080 --> 00:10:56,240 Speaker 1: World Cup team played well in gaining that scoreless draw 204 00:10:56,320 --> 00:10:59,160 Speaker 1: with England, but in reality their situation would likely be 205 00:10:59,240 --> 00:11:01,720 Speaker 1: the same as it is now had they lost that game, 206 00:11:01,760 --> 00:11:05,000 Speaker 1: beat a Ran today Advans Blues or have a third 207 00:11:05,000 --> 00:11:07,680 Speaker 1: strade tie and they are leaving guitar. The U S 208 00:11:07,720 --> 00:11:10,560 Speaker 1: coach is Greg Burrholter. Make no mistake about it. This 209 00:11:10,640 --> 00:11:13,480 Speaker 1: is a knockout game for both teams. So it's gonna 210 00:11:13,520 --> 00:11:16,360 Speaker 1: be a high level intensity. Um. You know, I love 211 00:11:16,400 --> 00:11:19,680 Speaker 1: what are Rands done um so far, especially the last game. 212 00:11:19,720 --> 00:11:24,360 Speaker 1: A lot of commitment, Um, really good counterattacking and um, 213 00:11:24,400 --> 00:11:27,080 Speaker 1: you know, we expected to be a hotly contested game 214 00:11:27,559 --> 00:11:30,600 Speaker 1: and we'll be ready for game starts today two o'clock. 215 00:11:30,679 --> 00:11:34,040 Speaker 1: John todash Our, bloom Bird Sports. All right, John, thank you. 216 00:11:34,120 --> 00:11:36,839 Speaker 1: Right now, SMP futures are still higher, but by just 217 00:11:37,000 --> 00:11:39,480 Speaker 1: six points. Staff futures have moved just a little bit 218 00:11:39,520 --> 00:11:43,079 Speaker 1: lower down six points have been moving between games and 219 00:11:43,160 --> 00:11:46,240 Speaker 1: losses this morning. NASDAC futures still on the rise, but 220 00:11:46,600 --> 00:11:48,720 Speaker 1: not as high as they've been in the session, higher 221 00:11:48,720 --> 00:11:51,679 Speaker 1: by forty points. Right now ten your treasury is up 222 00:11:51,720 --> 00:11:55,040 Speaker 1: six thirty seconds. The three point six yield on the 223 00:11:55,080 --> 00:11:58,000 Speaker 1: two year close to four point four three per cent. 224 00:11:58,600 --> 00:12:08,560 Speaker 1: You're listening to bloom Burg Daybreak. Bloomberg Sports was brought 225 00:12:08,600 --> 00:12:10,680 Speaker 1: to you by Audie. Don't let someone else drive off 226 00:12:10,679 --> 00:12:13,079 Speaker 1: in the outie model you've always wanted. Visit your local 227 00:12:13,120 --> 00:12:15,120 Speaker 1: Tri state autie dealers to get behind the wheel of 228 00:12:15,120 --> 00:12:22,560 Speaker 1: yours today, or visit autie Offers dot com for more information, markets, 229 00:12:22,640 --> 00:12:25,720 Speaker 1: headlines and breaking news twenty four hours a day at 230 00:12:25,760 --> 00:12:29,160 Speaker 1: Bloomberg dot com, The Bloomberg Business at Hand at Bloomberg 231 00:12:29,240 --> 00:12:38,800 Speaker 1: Quick Tape, He's a Bloomberg business flash and I'm ter 232 00:12:38,880 --> 00:12:41,160 Speaker 1: at Moscow and US Dock Index futures are pointing to 233 00:12:41,200 --> 00:12:44,280 Speaker 1: a moderately stronger open as speculation mounts set. Unrest in 234 00:12:44,400 --> 00:12:47,640 Speaker 1: Chinese cities over COVID restrictions would force authorities to move 235 00:12:47,679 --> 00:12:50,520 Speaker 1: faster and loosening the curbs. We checked the markets every 236 00:12:50,559 --> 00:12:53,839 Speaker 1: fifteen minutes throughout the trading day on Bloomberg s and 237 00:12:53,920 --> 00:12:57,080 Speaker 1: P futures up seven points this morning. Down futures are 238 00:12:57,120 --> 00:13:00,439 Speaker 1: little change and nasday futures of forty five. The decks 239 00:13:00,440 --> 00:13:02,719 Speaker 1: in Germany's up a tenth of a percent now ten, 240 00:13:02,760 --> 00:13:05,080 Speaker 1: Your treasury up six thirty seconds. You have three point 241 00:13:05,120 --> 00:13:07,360 Speaker 1: six five percent they yield on the two year four 242 00:13:07,400 --> 00:13:10,400 Speaker 1: point four two percent. Nine x screwed oil on the rise, 243 00:13:10,520 --> 00:13:12,480 Speaker 1: up about two and a half percent, up a dollar 244 00:13:12,559 --> 00:13:15,120 Speaker 1: ninety nine at seventy nine dollars twenty three cents of barrel. 245 00:13:15,320 --> 00:13:17,320 Speaker 1: Called meg school that three quarters of a percent, or 246 00:13:17,360 --> 00:13:20,640 Speaker 1: thirteen dollars forty cents at seventeen sixty eight seventy announced. 247 00:13:21,000 --> 00:13:23,520 Speaker 1: The Euro one point oh three seven two against the dollar, 248 00:13:23,559 --> 00:13:26,360 Speaker 1: British pound one point too, and the yen is at 249 00:13:26,360 --> 00:13:29,600 Speaker 1: one thirty eight point oh four and bitcoin this morning 250 00:13:29,679 --> 00:13:32,720 Speaker 1: up one point nine percent. It's at just over sixteen thousand, 251 00:13:32,800 --> 00:13:35,800 Speaker 1: five hundred dollars. That's a Bloomberg business flash. Now here's 252 00:13:35,840 --> 00:13:38,240 Speaker 1: Michael Barr with more on what's going on around the world. 253 00:13:38,320 --> 00:13:41,400 Speaker 1: Michael Karen, thank you very much. Chinese University as they're 254 00:13:41,400 --> 00:13:44,600 Speaker 1: sending students home. As the ruling Communist party titans anti 255 00:13:44,679 --> 00:13:49,160 Speaker 1: virus controls and tries to prevent more protests, crowds angered 256 00:13:49,200 --> 00:13:52,360 Speaker 1: by its severe zero COVID restrictions have called for President 257 00:13:52,400 --> 00:13:54,640 Speaker 1: shi Jing Ping to resign. More in the story. In 258 00:13:54,679 --> 00:13:57,920 Speaker 1: the minute, President Biden is asking Congress to intervene and 259 00:13:57,960 --> 00:14:01,000 Speaker 1: block a railroad strike before next month. Deadline at the 260 00:14:01,000 --> 00:14:04,440 Speaker 1: World Cup later today. The US faces Iran in the NFL, 261 00:14:04,520 --> 00:14:07,079 Speaker 1: the Steelers beat the Colts in the NBA, and the Nets, 262 00:14:07,080 --> 00:14:09,679 Speaker 1: Wizards and Celtics one in the NHL. The Devil's beat 263 00:14:09,720 --> 00:14:12,080 Speaker 1: the Rangers. Global News twenty four hours a day on 264 00:14:12,240 --> 00:14:15,120 Speaker 1: here and on Bloomberg Quick Take, powered by more than 265 00:14:15,200 --> 00:14:18,240 Speaker 1: twenty seven under journalist and analysts more than dwenty countries. 266 00:14:18,400 --> 00:14:20,880 Speaker 1: I'm Michael Barr. This is Bloomberg. Nathan all right, Michael. 267 00:14:20,880 --> 00:14:23,440 Speaker 1: Thanks six nineteen on Wall Street Live from the Bloomberg 268 00:14:23,480 --> 00:14:26,960 Speaker 1: Interactive Brokers Studios. This is Bloomberg Daybreak, and as promised, 269 00:14:26,960 --> 00:14:29,680 Speaker 1: we do have more on the situation in China. Live 270 00:14:29,800 --> 00:14:33,600 Speaker 1: from Hong Kong. We go to Bloomberg political correspondent Rebecca 271 00:14:33,760 --> 00:14:38,120 Speaker 1: Chung Wilkins. Rebecca, good morning. The reporting from what we 272 00:14:38,240 --> 00:14:42,080 Speaker 1: understand is that we've seen somewhat dampening of the protests 273 00:14:42,120 --> 00:14:43,760 Speaker 1: that have been going on for days and a bit 274 00:14:43,800 --> 00:14:47,360 Speaker 1: more conciliatory tone from the Chinese government. What more can 275 00:14:47,400 --> 00:14:50,880 Speaker 1: you tell us about what's happening there. Yes, we saw 276 00:14:51,000 --> 00:14:54,600 Speaker 1: really significant police present in many of the major Chinese 277 00:14:54,600 --> 00:14:58,440 Speaker 1: cities last night, and we're expecting that again to be 278 00:14:58,560 --> 00:15:04,160 Speaker 1: here President en Um so Pitty like Beijing, Shanghai Hanjo 279 00:15:04,280 --> 00:15:08,560 Speaker 1: will likely have that significantly presence, so dampening and muting 280 00:15:08,640 --> 00:15:11,280 Speaker 1: some of the activity that we've seen. On the other hand, 281 00:15:11,320 --> 00:15:14,600 Speaker 1: we are also hearing from the health authorities this sort 282 00:15:14,640 --> 00:15:18,400 Speaker 1: of conciliatory and more reasonable tone, and I think we 283 00:15:18,440 --> 00:15:21,920 Speaker 1: haven't seen any sort of acknowledgement so far of the protest, 284 00:15:21,960 --> 00:15:25,880 Speaker 1: but we did hear authorities saying that local government do 285 00:15:26,120 --> 00:15:30,800 Speaker 1: need to treat reasonable requests around COVID in a timely manner. 286 00:15:30,960 --> 00:15:33,560 Speaker 1: And it's really the closest that we've seen to some 287 00:15:33,640 --> 00:15:37,000 Speaker 1: kind of attempt to recognize what so many Chinese people 288 00:15:37,160 --> 00:15:40,880 Speaker 1: are deeply frustrated about. So it's a recognition. Can it 289 00:15:40,960 --> 00:15:44,520 Speaker 1: be seen as a move away, at least a tentative 290 00:15:44,600 --> 00:15:48,360 Speaker 1: move away from the strict COVID zero policies that sort 291 00:15:48,360 --> 00:15:53,680 Speaker 1: of sparked these massive protests. Well, one big positive sign 292 00:15:53,720 --> 00:15:55,880 Speaker 1: I think on that front is this push to get 293 00:15:56,000 --> 00:16:00,200 Speaker 1: China's elderly population vaccinated. That although overall that and aation 294 00:16:00,280 --> 00:16:03,200 Speaker 1: levels are relatively high in China, that's a real weak spot. 295 00:16:03,640 --> 00:16:06,480 Speaker 1: So only about forty percent of china population over a 296 00:16:06,600 --> 00:16:09,200 Speaker 1: t have had a booster vaccine for example. UM, and 297 00:16:09,280 --> 00:16:12,440 Speaker 1: most experts think there's no way that China can start 298 00:16:12,480 --> 00:16:15,280 Speaker 1: to reopen unless they tackle this problem. So that is 299 00:16:15,280 --> 00:16:17,680 Speaker 1: providing quite a lot of optimism in the markets that 300 00:16:17,720 --> 00:16:20,400 Speaker 1: you mentioned today. UM. The other thing is that we've 301 00:16:20,400 --> 00:16:23,640 Speaker 1: heard this phrase repeated again and again since the protest again, 302 00:16:23,920 --> 00:16:28,120 Speaker 1: and that is that China is constantly adjusting its COVID protocols. 303 00:16:28,160 --> 00:16:31,120 Speaker 1: That just allows as narrative to crack the door open. 304 00:16:31,400 --> 00:16:33,960 Speaker 1: Even when we start to see more concrete moves by 305 00:16:34,000 --> 00:16:36,840 Speaker 1: local government again, they will be able to sort of 306 00:16:36,840 --> 00:16:39,440 Speaker 1: frame it under that narrative. But it is important to 307 00:16:39,480 --> 00:16:42,080 Speaker 1: remember that while central government is sort of directing the 308 00:16:42,080 --> 00:16:45,800 Speaker 1: problem the sort of big line here, ultimately it's local 309 00:16:45,880 --> 00:16:48,800 Speaker 1: governments that are going to have to really reinforce and 310 00:16:48,840 --> 00:16:52,560 Speaker 1: decide just what risks they're willing to take, particularly for 311 00:16:52,680 --> 00:16:55,880 Speaker 1: each province's health care system. Healthcare very very sort of difficult, 312 00:16:55,960 --> 00:17:00,560 Speaker 1: differently administered UM, and differently with different effects of rush China. 313 00:17:01,000 --> 00:17:06,320 Speaker 1: Other than the push to get more elderly population vaccinated, 314 00:17:06,359 --> 00:17:11,880 Speaker 1: what other concessions are we hearing from the Chinese government, Well, 315 00:17:11,880 --> 00:17:14,200 Speaker 1: those are the two big things. Is problem to promise 316 00:17:14,280 --> 00:17:17,520 Speaker 1: to respond timely in a timely way to to request 317 00:17:17,600 --> 00:17:20,639 Speaker 1: as well as that vaccine push. Um, there is also 318 00:17:20,680 --> 00:17:24,560 Speaker 1: a movement to sort of potentially moderate and follow these 319 00:17:24,560 --> 00:17:29,360 Speaker 1: twenty principles for COVID management, which authorities laid out about 320 00:17:29,400 --> 00:17:32,639 Speaker 1: a couple of weeks ago, just before, just before we 321 00:17:32,720 --> 00:17:36,560 Speaker 1: started these protests started to emerge. It really remains to 322 00:17:36,640 --> 00:17:40,880 Speaker 1: be seen whether or not governments actually take that up. Um. 323 00:17:41,160 --> 00:17:44,160 Speaker 1: Jersey and province also um, and we did. Is again 324 00:17:44,280 --> 00:17:47,320 Speaker 1: just one province in China, but also saying that the 325 00:17:47,320 --> 00:17:49,760 Speaker 1: most important thing there is not controlling the virus but 326 00:17:49,800 --> 00:17:53,600 Speaker 1: payl think people first. Now that's quite a different message 327 00:17:53,600 --> 00:17:57,040 Speaker 1: than we've heard elsewhere. Of course, all this is coming 328 00:17:57,280 --> 00:18:00,480 Speaker 1: just a few weeks after Chinese President She jen Ping 329 00:18:00,560 --> 00:18:04,640 Speaker 1: solidified his unprecedented third term. What kind of a risk 330 00:18:04,960 --> 00:18:11,840 Speaker 1: is there are these protests putting on President She's leadership here? Yes, indeed, 331 00:18:11,880 --> 00:18:15,560 Speaker 1: I mean there was immense worry back then that as 332 00:18:15,680 --> 00:18:19,160 Speaker 1: She sort of moved to fill all those top positions 333 00:18:19,160 --> 00:18:22,040 Speaker 1: in his party with allies, that there wouldn't be anyone 334 00:18:22,160 --> 00:18:25,600 Speaker 1: to guide him or give pushed back when something went wrong. 335 00:18:25,800 --> 00:18:29,040 Speaker 1: And I think there is again that concern. Now you 336 00:18:29,080 --> 00:18:31,840 Speaker 1: know who are the sort of diverse voices are offering 337 00:18:31,880 --> 00:18:34,920 Speaker 1: alternate points of views here. Um, it is a really 338 00:18:34,960 --> 00:18:37,160 Speaker 1: critical point for his leadership, although of course no one 339 00:18:37,200 --> 00:18:40,639 Speaker 1: really expects there to be any real existential threat to 340 00:18:40,680 --> 00:18:43,080 Speaker 1: the party or to see at this moment, but it 341 00:18:43,200 --> 00:18:46,400 Speaker 1: certainly is. The most vocal protests aren't that rare in China. 342 00:18:46,480 --> 00:18:49,000 Speaker 1: They do happen, but it's very rare to see them 343 00:18:49,080 --> 00:18:53,159 Speaker 1: directly criticizing Season Ping and the Chinese Communist Party in 344 00:18:53,200 --> 00:18:56,159 Speaker 1: this way. And of course if this sort of speaks 345 00:18:56,160 --> 00:19:00,240 Speaker 1: of this broader melaid and this broader discontent after two 346 00:19:00,320 --> 00:19:03,280 Speaker 1: years not just very strict COVID controls, but wheels wort 347 00:19:03,280 --> 00:19:06,040 Speaker 1: have drag on the economy that's seen at itues like 348 00:19:06,080 --> 00:19:09,000 Speaker 1: some of those property policies and the property crackdown that 349 00:19:09,040 --> 00:19:12,719 Speaker 1: we've seen too. Thanks as always for keeping us updated 350 00:19:12,760 --> 00:19:14,639 Speaker 1: on what's happening, and I will be checking back in 351 00:19:14,720 --> 00:19:17,240 Speaker 1: with you in the days to come here as well. 352 00:19:17,240 --> 00:19:21,120 Speaker 1: That's Bloomberg Political correspondent Rebecca Chung Wilkins joining us live 353 00:19:21,280 --> 00:19:23,680 Speaker 1: this morning from Hong Kong. As we're seeing a little 354 00:19:23,720 --> 00:19:27,560 Speaker 1: bit more calm following the days of protests over strict 355 00:19:27,600 --> 00:19:30,720 Speaker 1: COVID restrictions, and again a little bit more of a 356 00:19:30,760 --> 00:19:35,400 Speaker 1: conciliatory tone. Some concessions we're hearing from Chinese health authorities 357 00:19:35,960 --> 00:19:38,560 Speaker 1: as the unrest continues to play out. Looking ahead to 358 00:19:38,600 --> 00:19:41,800 Speaker 1: the market open this morning on Wall Street, still on 359 00:19:41,840 --> 00:19:44,639 Speaker 1: the green, but we'll call it light green. With SMP 360 00:19:44,760 --> 00:19:47,960 Speaker 1: futures up eight points, Staff futures up six. That's a 361 00:19:48,000 --> 00:19:51,800 Speaker 1: little changed. NASAC futures are higher by fifty points ten. 362 00:19:51,880 --> 00:19:54,440 Speaker 1: Your treasury is moving higher by seven thirty seconds. The 363 00:19:54,520 --> 00:19:56,960 Speaker 1: yield down down to three point six five on the 364 00:19:57,000 --> 00:19:59,320 Speaker 1: benchmark tenure. Note the yield on the two year four 365 00:19:59,440 --> 00:20:03,360 Speaker 1: point four or two. And you're listening to Bloomberg Daybreak, 366 00:20:07,640 --> 00:20:10,600 Speaker 1: Bloomberg eleven three oh weather. Sunshine today, upper forties, will 367 00:20:10,600 --> 00:20:13,840 Speaker 1: have rain tomorrow to breeze, milder upper fifties for highs. 368 00:20:13,880 --> 00:20:15,959 Speaker 1: We'll be back in the mid forties, sunny and breezy 369 00:20:16,040 --> 00:20:23,000 Speaker 1: for Thursday. Right now thirty seven in Central Park, broadcasting 370 00:20:23,080 --> 00:20:26,800 Speaker 1: live from the Bloomberg Interacted Broker's studio in New York. 371 00:20:26,920 --> 00:20:30,040 Speaker 1: Bloomberg e living free on to Washington, d C. Bloomberg 372 00:20:30,119 --> 00:20:33,200 Speaker 1: ninety nine one to Boston, Bloomberg one oh six one 373 00:20:33,320 --> 00:20:36,240 Speaker 1: to San Francisco, Bloomberg and No. Sixty to the country 374 00:20:36,320 --> 00:20:38,960 Speaker 1: Sirius XM to the one nine T and around the 375 00:20:39,000 --> 00:20:42,800 Speaker 1: globe the Bloomberg Business app in Bloomberg Radio dot com. 376 00:20:42,840 --> 00:20:51,440 Speaker 1: This is Bloomberg day Break six thirty on Wall Street. 377 00:20:51,440 --> 00:20:54,159 Speaker 1: Good morning. I'm Nathan Hagar and I'm Karen Moscow, and 378 00:20:54,200 --> 00:20:56,439 Speaker 1: we're just about three hours away from the open of 379 00:20:56,520 --> 00:20:58,439 Speaker 1: us training kind to the fine things that you need 380 00:20:58,480 --> 00:21:00,959 Speaker 1: to notice start your day. Brought to you by Interactive 381 00:21:00,960 --> 00:21:03,600 Speaker 1: Brokers i dk R. Event Trader offers a new way 382 00:21:03,600 --> 00:21:06,040 Speaker 1: to trade futures. Use e vent contracts to trade your 383 00:21:06,080 --> 00:21:09,800 Speaker 1: opinion on yes orday questions and KEYCME futures. Marcus learn 384 00:21:09,800 --> 00:21:13,720 Speaker 1: more at event trader dot Interactive Brokers dot com. First 385 00:21:13,720 --> 00:21:16,119 Speaker 1: officials in China say they're looking to speed up COVID 386 00:21:16,160 --> 00:21:20,080 Speaker 1: vaccinations for senior citizens, but they're stopping short of mandates. 387 00:21:20,320 --> 00:21:22,800 Speaker 1: It comes on the heels of protests to China's strict 388 00:21:22,800 --> 00:21:26,320 Speaker 1: COVID policies. Craig Singleton, a senior China fellow at the 389 00:21:26,320 --> 00:21:30,200 Speaker 1: Foundation for Defensive Democracies, says President she Juan Paing might 390 00:21:30,240 --> 00:21:34,399 Speaker 1: not have many options for easing restrictions. I suspects going forward. 391 00:21:34,440 --> 00:21:36,160 Speaker 1: The big problem that's going to be that the CCP 392 00:21:36,240 --> 00:21:39,199 Speaker 1: has not articulated a clear path out of zero COVID. 393 00:21:39,480 --> 00:21:41,919 Speaker 1: Ching Ping has so closely staked his legacy on the 394 00:21:41,960 --> 00:21:45,280 Speaker 1: notion that China's pandemic response has been better than the West, 395 00:21:45,600 --> 00:21:49,200 Speaker 1: that narrative would be really damaged if China lifted these controls. 396 00:21:49,480 --> 00:21:52,560 Speaker 1: Craig Singleton with the Foundation for the Defensive Democracies, there's 397 00:21:52,560 --> 00:21:55,560 Speaker 1: a guest on Bloomberg Sound on Catch the show weekdays 398 00:21:55,560 --> 00:21:58,640 Speaker 1: at five pm Eastern on Bloomberg Radio I meantime caring. 399 00:21:58,680 --> 00:22:01,560 Speaker 1: The US is taking note of China's response to the protest. 400 00:22:01,640 --> 00:22:05,040 Speaker 1: National Security Council spokesman John Kirby talked about it yesterday. 401 00:22:05,400 --> 00:22:07,639 Speaker 1: People should be allowed the right to assemble and to 402 00:22:07,720 --> 00:22:10,840 Speaker 1: peacefully protest policies or laws or dictates that they take 403 00:22:10,880 --> 00:22:13,880 Speaker 1: issue with. The National Security Council spokesman John Kirby says 404 00:22:13,880 --> 00:22:16,159 Speaker 1: the White House does not expect the protests to affect 405 00:22:16,160 --> 00:22:19,520 Speaker 1: supply chains. All the while, Nathan Stocks in Asia search 406 00:22:19,600 --> 00:22:22,760 Speaker 1: with the unreshed over COVID curbs easing, Hong Kong's Hang 407 00:22:22,880 --> 00:22:25,679 Speaker 1: Sang Index rally more than five percent, but Stocks in 408 00:22:25,760 --> 00:22:29,159 Speaker 1: China game three percent. US futures rose and European stocks 409 00:22:29,200 --> 00:22:31,840 Speaker 1: also opened higher. Taking a look at the broader economy here, 410 00:22:31,880 --> 00:22:34,320 Speaker 1: and Fed officials are stressing more raid hikes are on 411 00:22:34,359 --> 00:22:36,800 Speaker 1: the way to curb inflation. New York Fed President John 412 00:22:36,800 --> 00:22:38,639 Speaker 1: Williams says it will take some time to get to 413 00:22:38,680 --> 00:22:41,800 Speaker 1: price stability, and St. Louis President James Bullard says markets 414 00:22:41,800 --> 00:22:45,520 Speaker 1: should expect aggressive tightening into next year. We've only recently 415 00:22:45,560 --> 00:22:48,359 Speaker 1: moved into restrictive territory, and we're going to have to 416 00:22:48,359 --> 00:22:51,560 Speaker 1: move farther in order to keep inflation under control. St. 417 00:22:51,600 --> 00:22:54,200 Speaker 1: Louis Fed President Jim Bullard and other officials have signaled 418 00:22:54,200 --> 00:22:57,240 Speaker 1: they planned to raise rates by fifty basis points next month. 419 00:22:57,600 --> 00:23:00,560 Speaker 1: And in politics today, Nathan President Biden and House figure 420 00:23:00,640 --> 00:23:03,000 Speaker 1: Nancy Pelosi are moving to prevent a shutdown of the 421 00:23:03,080 --> 00:23:06,199 Speaker 1: nation's freight railroads. The White House is asking Congress to 422 00:23:06,240 --> 00:23:08,159 Speaker 1: intervene in the House is preparing to take up a 423 00:23:08,200 --> 00:23:11,200 Speaker 1: bill that would impose a labor settlement. That's the five 424 00:23:11,240 --> 00:23:13,200 Speaker 1: things so you need to notice start your day. Brought 425 00:23:13,240 --> 00:23:16,880 Speaker 1: to you by Interactive Brokers, and futures this morning are 426 00:23:17,000 --> 00:23:19,320 Speaker 1: on the rise. There is this headline crossing the Bloomberg 427 00:23:19,440 --> 00:23:22,439 Speaker 1: HSBC to sell it's Canada unit to Royal Bank of 428 00:23:22,480 --> 00:23:25,600 Speaker 1: Canada S and P futures. Meanwhile, at eleven points this morning, 429 00:23:25,600 --> 00:23:28,359 Speaker 1: Down Future is now up twenty eight and ASDAK futures 430 00:23:28,359 --> 00:23:31,080 Speaker 1: of fifty six straight. I had your latest local headlines 431 00:23:31,160 --> 00:23:38,560 Speaker 1: plus a check of sports, and this is Bloomberg. Okay, 432 00:23:38,600 --> 00:23:41,920 Speaker 1: thanks Karen wall Street. Thirty six degrees in Central Park 433 00:23:41,960 --> 00:23:45,280 Speaker 1: the westbound cross Bronx Expressway maybe a no go this morning. 434 00:23:45,280 --> 00:23:48,760 Speaker 1: There's still an accident investigation at Jerome Avenue. Michael Barr 435 00:23:48,760 --> 00:23:50,520 Speaker 1: has more on what's going on in New York and 436 00:23:50,600 --> 00:23:53,280 Speaker 1: around the world. Michael, good morning, Good morning, Nathan. New 437 00:23:53,359 --> 00:23:57,000 Speaker 1: York City police busted a massive counterfeit operation last night, 438 00:23:57,280 --> 00:24:00,119 Speaker 1: falling away ten million dollars worth of bogus merchandise US 439 00:24:00,119 --> 00:24:04,040 Speaker 1: and arresting seventeen people. Won by Standard witnessed the sudden takedown. 440 00:24:04,440 --> 00:24:09,520 Speaker 1: Are you solace in YPD jumping out unmarked cars, mark cars, 441 00:24:09,560 --> 00:24:12,200 Speaker 1: patty wagons. They got the cleared, the whole thing from 442 00:24:12,200 --> 00:24:13,800 Speaker 1: here to here. And these guys used to sit up 443 00:24:13,800 --> 00:24:15,960 Speaker 1: all night roll. Let's watch this everything you can imagine. St. 444 00:24:16,200 --> 00:24:18,920 Speaker 1: Laurent All of the stuff. In planning the raid, police 445 00:24:18,960 --> 00:24:22,480 Speaker 1: worked with luxury goods manufacturers who examined the merchandise in 446 00:24:22,520 --> 00:24:25,760 Speaker 1: advance to certify it was counterfeit. In my p D, 447 00:24:25,920 --> 00:24:28,600 Speaker 1: Chief of Patrol Jeffrey Madre, he or she will look 448 00:24:28,600 --> 00:24:31,840 Speaker 1: at the property and say, this is this is not authentic, 449 00:24:32,280 --> 00:24:34,800 Speaker 1: This is a knop off bad, this is a fake pace. 450 00:24:34,880 --> 00:24:38,359 Speaker 1: Neeat this, Chief Madre says those arrested and now facing 451 00:24:38,400 --> 00:24:42,040 Speaker 1: felony offenses a white supremacist will spend the rest of 452 00:24:42,040 --> 00:24:44,960 Speaker 1: his life in prison for killing ten black shoppers and 453 00:24:45,119 --> 00:24:48,640 Speaker 1: workers in a Buffalo grocery store. Last May, nineteen year 454 00:24:48,640 --> 00:24:52,359 Speaker 1: old Peyton Gendren pleaded guilty to several charges, including hate 455 00:24:52,359 --> 00:24:56,520 Speaker 1: motivated domestic terrorism charges, which carry an automatic sentence of 456 00:24:56,600 --> 00:25:00,720 Speaker 1: life without parole. Garnell Whitfield's mother was shot and killed 457 00:25:00,720 --> 00:25:04,119 Speaker 1: in the supermarket. Whitfield is calling on lawmakers to act. 458 00:25:04,600 --> 00:25:08,120 Speaker 1: I want them to call out white supremacy. I want 459 00:25:08,160 --> 00:25:11,160 Speaker 1: them to treat it like the cancer that it is. 460 00:25:11,680 --> 00:25:15,120 Speaker 1: Garnel Whitfield, who watched the court proceedings, says Gendrin had 461 00:25:15,119 --> 00:25:18,920 Speaker 1: no emotion. A Senate bill protecting same sex marriage cleared 462 00:25:18,960 --> 00:25:21,640 Speaker 1: another procedure will hurt her last night. With the passage 463 00:25:21,640 --> 00:25:25,040 Speaker 1: of the legislation expected today, the Respect from Marriage Act 464 00:25:25,040 --> 00:25:29,000 Speaker 1: would federally recognize same sex marriages and ensure benefits for 465 00:25:29,040 --> 00:25:32,840 Speaker 1: all married couples. Former Vice President Mike Pennce said Donald 466 00:25:32,840 --> 00:25:36,159 Speaker 1: Trump should apologize for dining last week with rapper Ya 467 00:25:36,400 --> 00:25:39,960 Speaker 1: and well known white nationalist Nick Fluentiz, saying his former 468 00:25:40,000 --> 00:25:44,399 Speaker 1: boss showed profoundly poor judgment pens at it. I don't 469 00:25:44,400 --> 00:25:48,000 Speaker 1: believe Donald Trump isn't into stamite. I don't believe he's 470 00:25:48,000 --> 00:25:50,199 Speaker 1: a racist or a bigot. I would not have been 471 00:25:50,240 --> 00:25:54,040 Speaker 1: as Vice president if he was. Penn spoke with News Nation. 472 00:25:54,520 --> 00:25:56,480 Speaker 1: The m t A may have to raise fares to 473 00:25:56,560 --> 00:25:59,760 Speaker 1: reduce service on subways, buses, and commun trains because the 474 00:25:59,760 --> 00:26:02,879 Speaker 1: E and see his current financial plans are insufficient to 475 00:26:03,040 --> 00:26:06,680 Speaker 1: close long term budget gaps. According to New York State 476 00:26:06,720 --> 00:26:10,360 Speaker 1: Comptroller Thomas Monopoly, it is unclear how the MTA will 477 00:26:10,359 --> 00:26:14,879 Speaker 1: avoid these outcomes unless it lays out additional options. Report 478 00:26:14,920 --> 00:26:17,680 Speaker 1: comes ahead of a proposed three budget. The m t 479 00:26:17,840 --> 00:26:20,720 Speaker 1: A is expected to release this week Global News twenty 480 00:26:20,760 --> 00:26:22,919 Speaker 1: four hours a day on air and on Bloomberg Quickday, 481 00:26:22,920 --> 00:26:25,359 Speaker 1: powered by more than twenty seven hundred journalists, analysts more 482 00:26:25,400 --> 00:26:29,040 Speaker 1: than a hundred twenty countries. Michael Barr, this is Bloomberg Naker. 483 00:26:29,119 --> 00:26:36,159 Speaker 1: Thanks Michael, six thirty six on Wall Street Time for 484 00:26:36,160 --> 00:26:38,240 Speaker 1: the Bloomberg Sports Update, brought to you by Frice State 485 00:26:38,280 --> 00:26:40,840 Speaker 1: outing with John Stashower. All Right, when the Rangers get 486 00:26:40,880 --> 00:26:43,280 Speaker 1: their first up close look at the Devils who began 487 00:26:43,359 --> 00:26:45,680 Speaker 1: the season o and too, but our nineteen and two 488 00:26:45,800 --> 00:26:48,160 Speaker 1: since they've began last night, down to nothing or Temmy 489 00:26:48,200 --> 00:26:49,720 Speaker 1: Paner and he can be managed to have the Ranger 490 00:26:49,760 --> 00:26:52,119 Speaker 1: goals in the first three minutes for the Devils with 491 00:26:52,160 --> 00:26:53,879 Speaker 1: two of the first period, two more in the second 492 00:26:53,880 --> 00:26:56,320 Speaker 1: empty inner. At the end they won five three at 493 00:26:56,359 --> 00:26:57,960 Speaker 1: the guard and the nets aft of the slow started 494 00:26:58,040 --> 00:27:00,560 Speaker 1: claud back to five hundred. They beat Orlando at Barkley's 495 00:27:00,600 --> 00:27:03,320 Speaker 1: one O nine, one O two. Kevin Durant was superb 496 00:27:03,520 --> 00:27:06,800 Speaker 1: forty five points. He's got nineteen twenty four. That's lost 497 00:27:06,800 --> 00:27:09,200 Speaker 1: Ben Simmons to a knee injury. Day to day. Kemba 498 00:27:09,240 --> 00:27:11,760 Speaker 1: Walker has spent last season with the Knicks, has signed 499 00:27:11,760 --> 00:27:14,480 Speaker 1: with Dallas and a baseball free agent son in Josiah 500 00:27:14,520 --> 00:27:17,440 Speaker 1: Breyer with the World champion in East can Astros Monday 501 00:27:17,520 --> 00:27:20,440 Speaker 1: Night football a couple of subpar a FC teams Pittsburgh 502 00:27:20,440 --> 00:27:23,879 Speaker 1: one at Indianapolis four to seventeen. Jets coach Robert Salah 503 00:27:24,160 --> 00:27:27,480 Speaker 1: confirmed the obvious Mike White will start Sunday at Minnesota 504 00:27:27,520 --> 00:27:30,720 Speaker 1: and salis at his quarterback situation is week to week 505 00:27:30,800 --> 00:27:33,680 Speaker 1: and the intent is stilled against Zach Wilson ready to play. 506 00:27:33,760 --> 00:27:36,679 Speaker 1: Tiger Woods was gonna play in the Bahamas this weekend. 507 00:27:36,720 --> 00:27:38,760 Speaker 1: He's got a foot injury, had to pull out. The 508 00:27:38,800 --> 00:27:42,280 Speaker 1: US World Cup team tied England. England beat Iran easily 509 00:27:42,280 --> 00:27:44,919 Speaker 1: six to two, but Iran beat Wales, who the U 510 00:27:45,040 --> 00:27:47,879 Speaker 1: S could not feed US and Iran today and the 511 00:27:47,880 --> 00:27:50,399 Speaker 1: American captains midfielder Tyler at it, it's gonna be a 512 00:27:50,400 --> 00:27:51,879 Speaker 1: tough battle and you know, we're gonna have to have 513 00:27:51,920 --> 00:27:53,359 Speaker 1: a lot of energy in this game and make sure 514 00:27:53,400 --> 00:27:56,119 Speaker 1: that we're mentally prepared, pay attention to all the details 515 00:27:56,119 --> 00:27:58,440 Speaker 1: in the game set pieces. UM and their midfield is 516 00:27:58,480 --> 00:28:00,640 Speaker 1: dis quite impressive, you know, a very tech in from midfield. 517 00:28:00,640 --> 00:28:02,360 Speaker 1: And you know, for me, it's always difficult to play 518 00:28:02,400 --> 00:28:04,400 Speaker 1: against the technical midfield when they can control the ball 519 00:28:04,440 --> 00:28:06,640 Speaker 1: and control the games. So UM you know, we're gonna 520 00:28:06,640 --> 00:28:08,480 Speaker 1: have to do our homework on on the on the 521 00:28:08,520 --> 00:28:11,159 Speaker 1: games that they played previously US victory. Today it's on 522 00:28:11,200 --> 00:28:13,720 Speaker 1: with the knockout round, a loss or a tie and 523 00:28:13,760 --> 00:28:16,919 Speaker 1: they're going home. Also today it is England against Whale. 524 00:28:17,040 --> 00:28:20,280 Speaker 1: John stash Allen Bloberg Sports NA be an exciting day 525 00:28:20,320 --> 00:28:22,280 Speaker 1: for World Cup fans. Thank you, John. We're coming up 526 00:28:22,280 --> 00:28:24,400 Speaker 1: to six thirty eight on Wall Street. Time to take 527 00:28:24,400 --> 00:28:26,560 Speaker 1: a look at stocks, some of the names moving in 528 00:28:26,600 --> 00:28:29,520 Speaker 1: the pre market with Bloomberg Radio and TV Markets correspondent 529 00:28:29,560 --> 00:28:32,879 Speaker 1: Creaty Gupta. It's been pretty light on the futures contracts, 530 00:28:32,880 --> 00:28:36,840 Speaker 1: but boy did Chinese stocks surge on that just slight 531 00:28:36,960 --> 00:28:40,680 Speaker 1: move away from COVID zero. Creaty, I a complete turnaround story. 532 00:28:40,760 --> 00:28:43,320 Speaker 1: And yeah, it is wild what you're seeing in these 533 00:28:43,360 --> 00:28:45,320 Speaker 1: Chinese ad rs. For example, we love to look at 534 00:28:45,320 --> 00:28:47,720 Speaker 1: the poster child here, Ali Baba is our go to 535 00:28:47,880 --> 00:28:50,200 Speaker 1: for all things China. In terms of how the American 536 00:28:50,840 --> 00:28:53,880 Speaker 1: UM trading bases, perhaps viewing those Chinese A d R 537 00:28:53,920 --> 00:28:55,720 Speaker 1: SO B A B as your taking. Their shares are 538 00:28:55,760 --> 00:28:58,000 Speaker 1: up about six percent in the pre market. And to 539 00:28:58,080 --> 00:29:01,640 Speaker 1: your point, Nathan, it does come with a I don't 540 00:29:01,800 --> 00:29:03,600 Speaker 1: quite know. A plethora of news is what we'll call it, 541 00:29:04,240 --> 00:29:05,960 Speaker 1: trying to find the right word there. But there's a 542 00:29:06,000 --> 00:29:08,200 Speaker 1: couple of things here. They said that Chinese officials vowed 543 00:29:08,240 --> 00:29:10,280 Speaker 1: to speed up COVID shots for the elderly. This was 544 00:29:10,280 --> 00:29:13,680 Speaker 1: a major issue, the idea that a lot of Chinese 545 00:29:13,720 --> 00:29:16,000 Speaker 1: citizens over the age of eighty. The vaccination rate was 546 00:29:16,040 --> 00:29:20,040 Speaker 1: something like, it's something that is significantly low relative to 547 00:29:20,080 --> 00:29:22,520 Speaker 1: the rest of the world, I think relative to China, 548 00:29:22,600 --> 00:29:25,680 Speaker 1: think by comparison Nited States and something like seventy percent, 549 00:29:26,000 --> 00:29:28,440 Speaker 1: especially for the elderly population. In the way that they've 550 00:29:28,480 --> 00:29:31,200 Speaker 1: tackled the distribution of the COVID vaccine, so that's something 551 00:29:31,200 --> 00:29:33,280 Speaker 1: that's very unique to China, so keep an eye on that. 552 00:29:33,440 --> 00:29:36,240 Speaker 1: They also said that they're going to avoid excessive restrictions. 553 00:29:36,240 --> 00:29:38,560 Speaker 1: Remember that was really the issue that was fueling a 554 00:29:38,560 --> 00:29:40,520 Speaker 1: lot of these protests, the idea there was a fire 555 00:29:40,560 --> 00:29:42,600 Speaker 1: in a high rise building in one of their regions. 556 00:29:42,680 --> 00:29:45,640 Speaker 1: That basically meant that in that fire, a lot of 557 00:29:45,640 --> 00:29:48,000 Speaker 1: people couldn't escape and they couldn't be rescued because of 558 00:29:48,040 --> 00:29:50,520 Speaker 1: the COVID restriction. So that is what kind of was 559 00:29:50,640 --> 00:29:54,480 Speaker 1: the the spark for a lot of these protests among 560 00:29:54,560 --> 00:29:57,600 Speaker 1: just general frustration. So to see that really be addressed 561 00:29:57,760 --> 00:29:59,760 Speaker 1: is a game changer for a lot of these Chinese 562 00:29:59,760 --> 00:30:02,840 Speaker 1: eight ours. Now there is some skepticism, of course, coming 563 00:30:02,880 --> 00:30:05,760 Speaker 1: to all these developments, but the idea that a new 564 00:30:05,840 --> 00:30:10,440 Speaker 1: round of perhaps easing could be underway um and perhaps 565 00:30:10,560 --> 00:30:12,680 Speaker 1: kind of build pressure for reopening is fueling the likes 566 00:30:12,680 --> 00:30:15,080 Speaker 1: of Ali Baba also feeling likes of j D dot 567 00:30:15,120 --> 00:30:17,040 Speaker 1: Com for example. So j D is the ticker there 568 00:30:17,120 --> 00:30:19,960 Speaker 1: shears up about eight percent for that stock. All right, now, 569 00:30:20,040 --> 00:30:21,560 Speaker 1: last minute here, Crety, what are you looking at in 570 00:30:21,640 --> 00:30:24,560 Speaker 1: terms of domestic shares? Yeah, this is the rapid fire 571 00:30:24,640 --> 00:30:27,280 Speaker 1: round if you will, full of analysts recommendations. You gotta 572 00:30:27,280 --> 00:30:29,719 Speaker 1: look at Roku's one are okay? You shares you down 573 00:30:29,760 --> 00:30:32,320 Speaker 1: about two point four percent of the pre market stock 574 00:30:32,400 --> 00:30:35,080 Speaker 1: downgraded to sector weight from overweight. Over at key Bank, 575 00:30:35,200 --> 00:30:39,720 Speaker 1: they're saying the consensus fore and looks quote too optimistic. 576 00:30:39,840 --> 00:30:42,000 Speaker 1: I want someone to say that about me, too optimistic. 577 00:30:42,440 --> 00:30:44,600 Speaker 1: Microsoft m s f T is the other one you 578 00:30:44,640 --> 00:30:46,080 Speaker 1: want to keep an eye on. Share is actually up 579 00:30:46,160 --> 00:30:48,600 Speaker 1: well about two tenths of one percent, up about five 580 00:30:48,640 --> 00:30:50,920 Speaker 1: tenths of one percent earlier more exactly, saying that it 581 00:30:50,960 --> 00:30:54,080 Speaker 1: has confidence in the software firm's commercial businesses, sending a 582 00:30:54,120 --> 00:30:56,680 Speaker 1: strong and durable demand signal when it comes to you. 583 00:30:56,680 --> 00:30:59,400 Speaker 1: We can never be too optimistic about Bloomberg Radio on 584 00:30:59,440 --> 00:31:02,320 Speaker 1: TV Market. It's correspondent Creedy Goop to stand on top 585 00:31:02,360 --> 00:31:04,600 Speaker 1: of the pre market action for us this morning, stocks 586 00:31:04,640 --> 00:31:07,719 Speaker 1: as a whole just a touch higher after the surge. 587 00:31:07,760 --> 00:31:10,479 Speaker 1: Overseas we got SMP futures up nine points, down features 588 00:31:10,520 --> 00:31:13,920 Speaker 1: up eleven, nastack features up fifty points. Send your treasury 589 00:31:13,960 --> 00:31:16,800 Speaker 1: is up six thirty seconds yield three point six five percent. 590 00:31:16,920 --> 00:31:24,239 Speaker 1: You're listening to Bloomberg Dave right he Bloomberg Sports was 591 00:31:24,320 --> 00:31:26,280 Speaker 1: brought to you by Audie. Don't let someone else drive 592 00:31:26,320 --> 00:31:28,240 Speaker 1: off in the Audi model. You've always wanted to visit 593 00:31:28,240 --> 00:31:30,440 Speaker 1: your local Tri state autie dealer to get behind the 594 00:31:30,440 --> 00:31:33,080 Speaker 1: wheel of yours today, or visit autie Offers dot com 595 00:31:33,160 --> 00:31:39,480 Speaker 1: for more information, markets, headlines and breaking news twenty four 596 00:31:39,480 --> 00:31:42,520 Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business 597 00:31:42,560 --> 00:31:46,240 Speaker 1: A and at Bloomberg Quick Jape. He's a Bloomberg Business 598 00:31:46,320 --> 00:31:55,000 Speaker 1: lash and I'm kared. Moscow futures are on the rise 599 00:31:55,080 --> 00:31:57,200 Speaker 1: this morning We had the first word breaking news desk 600 00:31:57,240 --> 00:31:59,840 Speaker 1: for today's morning call, and here's Bill Maloney. Bill, good 601 00:31:59,840 --> 00:32:03,280 Speaker 1: more ing and good morning Karen. A modest bounce in 602 00:32:03,320 --> 00:32:05,760 Speaker 1: the futures FPS today's sell off, with OUT futures up 603 00:32:05,840 --> 00:32:08,880 Speaker 1: nine points, SAPES game eight and NASA futures are higher 604 00:32:09,040 --> 00:32:12,000 Speaker 1: by fifty. He was ten year old at three point 605 00:32:12,120 --> 00:32:15,280 Speaker 1: six six percent, Gold is up fourteen, Oil is climbing, 606 00:32:15,520 --> 00:32:18,400 Speaker 1: and Bitcoin is training higher by one point nine percent. 607 00:32:18,720 --> 00:32:21,800 Speaker 1: Hong Kong jumped five point two percent overnight, while up 608 00:32:21,960 --> 00:32:24,880 Speaker 1: markets are trading mixed this morning. And back in the US. 609 00:32:24,960 --> 00:32:27,120 Speaker 1: On the economic front, at nine o'clock the House Price 610 00:32:27,160 --> 00:32:30,760 Speaker 1: Index and at ten o'clock consumer confidence. Then another news, 611 00:32:30,760 --> 00:32:33,240 Speaker 1: Morgan Stanley said the SNP five hundred may drop as 612 00:32:33,360 --> 00:32:36,920 Speaker 1: much as fifteen percent by March as he fed unwinds 613 00:32:36,920 --> 00:32:39,920 Speaker 1: its balance sheet, and Adobe said that Cyber Monday was 614 00:32:39,960 --> 00:32:42,840 Speaker 1: set to break records with a projected eleven point six 615 00:32:42,840 --> 00:32:46,720 Speaker 1: billion in online spending. Wrapping things up over red Georgia Bank, 616 00:32:46,840 --> 00:32:50,040 Speaker 1: Canadian Pacific was raised to buy and ups was also 617 00:32:50,240 --> 00:32:53,160 Speaker 1: raised to buy. Live from the first Breaking News Desk 618 00:32:53,240 --> 00:32:55,640 Speaker 1: on Bill Maloney, Karen, all right, Bill, thank you to 619 00:32:55,680 --> 00:32:58,040 Speaker 1: hear live breaking news over your Bloomberg type squawk on 620 00:32:58,080 --> 00:33:00,800 Speaker 1: your terminal squ a w K and that's a Bloomberg 621 00:33:00,840 --> 00:33:03,240 Speaker 1: business flash. Now here's Michael Barr with more on what's 622 00:33:03,280 --> 00:33:05,840 Speaker 1: going on around the world. Michael Karen, thank you very much. 623 00:33:05,880 --> 00:33:08,960 Speaker 1: Congress is being called to stop a loooming national railroad 624 00:33:09,040 --> 00:33:13,160 Speaker 1: strike as President Biden urges lawmakers to act. Biden says, 625 00:33:13,320 --> 00:33:16,280 Speaker 1: while he's pro labor, the economic impact of a shutdown 626 00:33:16,360 --> 00:33:19,800 Speaker 1: would hurt millions of other working people and families. NATO 627 00:33:19,920 --> 00:33:24,200 Speaker 1: chief Yen Stoltenberg accused Russian President Vladimir Putin of using 628 00:33:24,280 --> 00:33:27,920 Speaker 1: winter as a weapon. Ukraine's leader warned that the Kremlin 629 00:33:28,080 --> 00:33:30,680 Speaker 1: is preparing new strikes to inflict more damage on the 630 00:33:30,840 --> 00:33:33,840 Speaker 1: energy system. At the World Cup later today, the US 631 00:33:33,920 --> 00:33:37,040 Speaker 1: faces around in the NBA, the Nets, Wizards and Celtics 632 00:33:37,120 --> 00:33:40,520 Speaker 1: one NHL, The Devil's Beat, the Rangers. Global News twenty 633 00:33:40,560 --> 00:33:43,160 Speaker 1: four hours a day on air and on Bloomberg Quick Tank, 634 00:33:43,400 --> 00:33:46,080 Speaker 1: powered by more than hundred journalists and analysts more than 635 00:33:46,080 --> 00:33:48,680 Speaker 1: a hundred twenty countries. I'm Michael Barr. This is Bloomberg. 636 00:33:48,760 --> 00:33:51,680 Speaker 1: Nathan all right, Michael. Thanks at sixty nine on Wall Street. 637 00:33:51,720 --> 00:33:53,880 Speaker 1: Let's turn the news and science and technology Now with 638 00:33:53,960 --> 00:33:56,640 Speaker 1: the Bloomberg n j I T STEM Report brought to 639 00:33:56,680 --> 00:33:59,200 Speaker 1: you by New Jersey Institute of Technology, rank to top 640 00:33:59,280 --> 00:34:01,880 Speaker 1: one hundred national university by u S News and World 641 00:34:01,960 --> 00:34:04,760 Speaker 1: Report and the number one public university in New Jersey 642 00:34:05,160 --> 00:34:07,360 Speaker 1: by Forbes. What Will You Make It? N j I T. 643 00:34:07,640 --> 00:34:10,680 Speaker 1: Learn more at n j I T dot e DU now. 644 00:34:10,760 --> 00:34:14,120 Speaker 1: Here's what's making news in science, technology, engineering and math. 645 00:34:14,640 --> 00:34:17,600 Speaker 1: Block five has become the latest crypto firm to collapse 646 00:34:17,840 --> 00:34:20,279 Speaker 1: in the wake of the downfall of f t X. 647 00:34:20,440 --> 00:34:22,680 Speaker 1: The digital asset lender says it will use the Chapter 648 00:34:22,760 --> 00:34:26,719 Speaker 1: eleven process to recover everything it's owned by counterparties including 649 00:34:27,000 --> 00:34:29,960 Speaker 1: f t X, but Block five acknowledges that those recoveries 650 00:34:30,280 --> 00:34:32,200 Speaker 1: are likely to be delayed by f t x is 651 00:34:32,239 --> 00:34:35,920 Speaker 1: own bankruptcy. Carmakers are opting to shutter their plants in 652 00:34:36,080 --> 00:34:39,360 Speaker 1: China as COVID restrictions make it nearly impossible to secure 653 00:34:39,480 --> 00:34:42,600 Speaker 1: some components. Volkswagen says a component shortage is the main 654 00:34:42,680 --> 00:34:45,439 Speaker 1: reason behind its decision to halt production at a joint 655 00:34:45,520 --> 00:34:48,000 Speaker 1: venture plant it has with China f A double group 656 00:34:48,120 --> 00:34:50,680 Speaker 1: in cheng Do, as well as a two of five 657 00:34:50,760 --> 00:34:54,759 Speaker 1: production lines at its factory in Chang Chung, and Amazon's 658 00:34:54,760 --> 00:34:57,600 Speaker 1: cloud computing units rolling out new chips designed to power 659 00:34:57,719 --> 00:35:00,919 Speaker 1: the highest end of computing, supporting asks such as weather 660 00:35:01,040 --> 00:35:05,959 Speaker 1: forecasting and gene sequencing. Amazon Web Services, the largest owner 661 00:35:06,080 --> 00:35:08,799 Speaker 1: of over the Internet computing, says that'll let customers rent 662 00:35:08,840 --> 00:35:11,799 Speaker 1: computing power that relies on a new version of its 663 00:35:12,120 --> 00:35:15,120 Speaker 1: Graviton chips. That newest chip is the latest piece of 664 00:35:15,160 --> 00:35:18,120 Speaker 1: Amazon's effort to build more of the hardware that fills 665 00:35:18,200 --> 00:35:22,320 Speaker 1: the massive data centers that power a w S. And 666 00:35:22,360 --> 00:35:25,600 Speaker 1: that's the Bloomberg and j I t Stem Report. We're 667 00:35:25,640 --> 00:35:27,960 Speaker 1: live from the Bloomberg Interactive Broker Studios, where it's now 668 00:35:28,000 --> 00:35:30,680 Speaker 1: six fifty on Wall Street. Now it's time to check 669 00:35:30,719 --> 00:35:32,680 Speaker 1: what's going on in BC or. Some of the top 670 00:35:32,760 --> 00:35:35,799 Speaker 1: stories include a munit of response from the Biden administration 671 00:35:35,880 --> 00:35:39,600 Speaker 1: to the protests in China, President Biden asking Congress to 672 00:35:39,719 --> 00:35:43,840 Speaker 1: force a rail deal despite union protests, Former Vice President 673 00:35:43,920 --> 00:35:47,160 Speaker 1: Pence telling his former boss to apologize after dining with 674 00:35:47,200 --> 00:35:50,520 Speaker 1: a white nationalist, and the same sex marriage bill set 675 00:35:50,600 --> 00:35:53,040 Speaker 1: to pass the Senate later today. Let's bring in Joe 676 00:35:53,080 --> 00:35:55,160 Speaker 1: Matthew to get more on some of these stories are Washington, 677 00:35:55,200 --> 00:35:59,279 Speaker 1: course wanted host of Sound On on Bloomberg Radio. So, Joe, 678 00:35:59,360 --> 00:36:04,640 Speaker 1: what is the response in Washington today's ongoing protests in China? 679 00:36:04,840 --> 00:36:07,440 Speaker 1: You know, Nathan, the headline on sound On last night 680 00:36:07,560 --> 00:36:11,240 Speaker 1: was proceed with caution, because that's exactly what John Kirby 681 00:36:11,480 --> 00:36:13,239 Speaker 1: was doing at the podium. He was part of the 682 00:36:13,280 --> 00:36:16,040 Speaker 1: briefing at the White House yesterday and took any number 683 00:36:16,080 --> 00:36:19,600 Speaker 1: of questions about the protests, China's COVID policy, and a 684 00:36:19,680 --> 00:36:22,920 Speaker 1: lot of related issues. Responding with the refrain people should 685 00:36:22,960 --> 00:36:25,960 Speaker 1: be allowed the right to assemble and to peacefully protests, 686 00:36:26,000 --> 00:36:27,960 Speaker 1: he said it again and again, like what about this, Well, 687 00:36:28,120 --> 00:36:30,880 Speaker 1: we do, we do support the right to peacefully protest. 688 00:36:30,960 --> 00:36:33,239 Speaker 1: At one point he was even asked about using so 689 00:36:33,400 --> 00:36:35,880 Speaker 1: much caution and why the US was not taking the 690 00:36:35,920 --> 00:36:39,239 Speaker 1: opportunity to assert itself as a democracy. Kirby basically said, 691 00:36:39,239 --> 00:36:43,160 Speaker 1: I am asserting myself. So it's clear there are concerns 692 00:36:43,239 --> 00:36:45,680 Speaker 1: here in the wake of President Biden's meeting with President 693 00:36:45,760 --> 00:36:47,919 Speaker 1: she at the G twenty and Indonesia that was watched 694 00:36:47,920 --> 00:36:52,040 Speaker 1: just two weeks ago, concerns about undoing progress, but even worse, 695 00:36:52,160 --> 00:36:55,600 Speaker 1: Nathan to to give the impression somehow that the US 696 00:36:55,680 --> 00:36:59,080 Speaker 1: is encouraging or or helping to plan these protests. They 697 00:36:59,160 --> 00:37:03,120 Speaker 1: want this to resolve on its own. You have to wonder, though, Joe, 698 00:37:03,719 --> 00:37:07,480 Speaker 1: whether this could lead to more pressure on the Biden 699 00:37:07,480 --> 00:37:10,040 Speaker 1: administration when you have Congress getting back to work and 700 00:37:10,080 --> 00:37:13,520 Speaker 1: obviously a lot of lawmakers don't have that same kind 701 00:37:13,600 --> 00:37:17,480 Speaker 1: of diplomatic dance that the President has to continue to 702 00:37:17,560 --> 00:37:20,040 Speaker 1: maneuver here after that meeting with Shijin paying there are 703 00:37:20,040 --> 00:37:23,040 Speaker 1: a lot of China hawks. It's one of the real 704 00:37:23,120 --> 00:37:25,839 Speaker 1: by parts and issues in Washington and put some hate 705 00:37:25,880 --> 00:37:28,240 Speaker 1: on China here, and you're right, and I would expect 706 00:37:28,280 --> 00:37:30,840 Speaker 1: a lot of messaging on that from lawmakers. There's not 707 00:37:30,920 --> 00:37:33,320 Speaker 1: likely a lot they can do though without really changing 708 00:37:33,360 --> 00:37:36,719 Speaker 1: the rules, for instance, of companies doing business in China. 709 00:37:36,840 --> 00:37:39,560 Speaker 1: That's that's the concern as well or the apples and 710 00:37:39,600 --> 00:37:43,960 Speaker 1: the other manufacturers who are dealing with with supply disruptions here, 711 00:37:44,000 --> 00:37:47,880 Speaker 1: with production disruptions. Although Kirby did say yesterday that as 712 00:37:47,920 --> 00:37:49,840 Speaker 1: far as the White House is concerned, there is no 713 00:37:50,040 --> 00:37:53,239 Speaker 1: major interruption in supply chains. Yet of course that could change, 714 00:37:53,280 --> 00:37:56,240 Speaker 1: and that's a different conversation. And speaking of supply chains. 715 00:37:56,640 --> 00:38:00,840 Speaker 1: How about this dispute ongoing between rail works and the 716 00:38:01,200 --> 00:38:05,279 Speaker 1: freight rail companies. There's a deadline coming up, Joe. That's right. 717 00:38:05,320 --> 00:38:07,120 Speaker 1: It's the ninth of December, and I do you know, 718 00:38:07,160 --> 00:38:09,800 Speaker 1: I really encourage people to consider this. Can you imagine 719 00:38:09,840 --> 00:38:13,120 Speaker 1: a rail strike happening right before Christmas? That's what we 720 00:38:13,160 --> 00:38:15,840 Speaker 1: would be talking about here. Uh, And it would completely 721 00:38:15,920 --> 00:38:18,480 Speaker 1: upend the supply chain in the national economy when you 722 00:38:18,560 --> 00:38:23,120 Speaker 1: consider three hundred trailer trucks for one train. That's how 723 00:38:23,400 --> 00:38:26,600 Speaker 1: this works out. There was an agreement back in September. 724 00:38:26,680 --> 00:38:28,680 Speaker 1: The White House took a victory lap on this. Marty 725 00:38:28,719 --> 00:38:31,920 Speaker 1: Walsh put in dozens of hours. Remember they were bringing 726 00:38:31,960 --> 00:38:34,440 Speaker 1: in Italian food in the middle of the ninth Right, 727 00:38:34,480 --> 00:38:38,880 Speaker 1: we're getting along. This agreement, though it was not embraced 728 00:38:38,920 --> 00:38:41,239 Speaker 1: by all of the unions, more than a dozen of them, 729 00:38:41,320 --> 00:38:44,719 Speaker 1: it does not include sickly that's a big deal. In 730 00:38:44,800 --> 00:38:48,320 Speaker 1: one of the four unions that voted down that proposed 731 00:38:48,320 --> 00:38:51,120 Speaker 1: agreement says it will oppose any legislation that does not 732 00:38:51,239 --> 00:38:53,200 Speaker 1: include paid sick days. So we're gonna have to see 733 00:38:53,239 --> 00:38:56,319 Speaker 1: what happens with Congress. But you're right, Joe, Biden, who 734 00:38:56,440 --> 00:38:59,480 Speaker 1: claims to be the most labor friendly president in the 735 00:38:59,600 --> 00:39:02,680 Speaker 1: history of America, out with a statement last night telling 736 00:39:02,840 --> 00:39:06,400 Speaker 1: Congress to get involved here. They should immediately codify the 737 00:39:06,480 --> 00:39:09,320 Speaker 1: agreement that he helped to put together in September that 738 00:39:09,360 --> 00:39:12,719 Speaker 1: I mentioned here in Nancy Pelosi is preparing to take 739 00:39:12,880 --> 00:39:15,600 Speaker 1: action here. It's unclear exactly what the votes will be 740 00:39:15,800 --> 00:39:17,680 Speaker 1: and whether the Senate is going to be prepared to 741 00:39:17,719 --> 00:39:20,319 Speaker 1: move that quickly, but they don't have a lot of time. Nathan. 742 00:39:20,480 --> 00:39:23,000 Speaker 1: He's an idea that the President, Biden wants to be 743 00:39:23,080 --> 00:39:26,319 Speaker 1: seen as the most pro union president ever sort of been. 744 00:39:26,360 --> 00:39:30,000 Speaker 1: What's keeping him from asking Congress intervene up to now? 745 00:39:30,560 --> 00:39:32,359 Speaker 1: It's a good question. Look, I think they really wanted 746 00:39:32,400 --> 00:39:34,440 Speaker 1: to just get this done on their own. You know, 747 00:39:34,560 --> 00:39:36,759 Speaker 1: they had a deal. He thought that he had gone 748 00:39:36,880 --> 00:39:40,279 Speaker 1: gotten beyond this. Uh he dispatched his labor secretary, his 749 00:39:40,360 --> 00:39:43,480 Speaker 1: Commerce secretary, he even called in himself. Remember they got 750 00:39:43,560 --> 00:39:45,880 Speaker 1: a call from from Joe Biden in the middle of 751 00:39:46,680 --> 00:39:50,000 Speaker 1: these negotiations. Uh So, I think the idea was that, hey, 752 00:39:50,040 --> 00:39:52,960 Speaker 1: we're capable of doing this. But when you start going 753 00:39:53,000 --> 00:39:55,560 Speaker 1: into the holiday season here potentially into the new year, 754 00:39:55,640 --> 00:39:57,520 Speaker 1: with a strike. That's not acceptable to the White House, 755 00:39:57,600 --> 00:40:00,279 Speaker 1: it's not acceptable to the the rail cup and he's 756 00:40:00,320 --> 00:40:02,680 Speaker 1: either And I have to admit, you know, you there's 757 00:40:02,680 --> 00:40:05,080 Speaker 1: a lot to be concerned about here when it comes 758 00:40:05,120 --> 00:40:07,880 Speaker 1: to sickly, we should not be fired for going to 759 00:40:07,960 --> 00:40:11,480 Speaker 1: the doctor. But most people would not accept the results 760 00:40:11,560 --> 00:40:13,400 Speaker 1: of a rail strike. It would bring the economy to 761 00:40:13,480 --> 00:40:15,880 Speaker 1: a halt. Yeah, all right, let's train to another political 762 00:40:16,000 --> 00:40:18,600 Speaker 1: story this morning. There's still seem to be a lot 763 00:40:18,640 --> 00:40:23,080 Speaker 1: of questions for Republicans about that dinner between former President 764 00:40:23,120 --> 00:40:26,920 Speaker 1: Trump and the white nationalist and now former Vice president. 765 00:40:27,000 --> 00:40:29,560 Speaker 1: Mike Pence is being asked about it as well. Yeah. Boy, 766 00:40:29,560 --> 00:40:31,719 Speaker 1: he's doing a lot of interviews lately, and he did, 767 00:40:32,320 --> 00:40:34,480 Speaker 1: he did talk about this has been you know, there's 768 00:40:34,480 --> 00:40:37,400 Speaker 1: been a noted lack of high ranking Republicans denouncing this 769 00:40:37,480 --> 00:40:41,200 Speaker 1: dinner with Nick Fuentis and Kanye or Yea or whatever 770 00:40:41,280 --> 00:40:44,600 Speaker 1: you call him. Kevin McCarthy has been very quiet. Uh, 771 00:40:44,960 --> 00:40:46,320 Speaker 1: this is the man who wants to hold the gavel 772 00:40:46,400 --> 00:40:48,640 Speaker 1: in the House. So Mike Pence is probably the most 773 00:40:48,640 --> 00:40:53,040 Speaker 1: prominent Republican to criticize Trump here. Um. He he also 774 00:40:53,080 --> 00:40:55,360 Speaker 1: said he does not believe that Donald Trump is is 775 00:40:55,400 --> 00:40:58,400 Speaker 1: anti Semitic, racist or a bigot. So you know, at 776 00:40:58,440 --> 00:41:00,480 Speaker 1: this point it's it's difficult up for a lot of 777 00:41:00,480 --> 00:41:02,320 Speaker 1: people to swallow. He was talking to what is the 778 00:41:02,400 --> 00:41:04,840 Speaker 1: news nation, right, so that there's there's too many networks. 779 00:41:05,560 --> 00:41:08,240 Speaker 1: But you know, there's always a butt with Mike Pence. 780 00:41:08,280 --> 00:41:11,160 Speaker 1: The President was wrong about the election, but it was 781 00:41:11,200 --> 00:41:14,000 Speaker 1: the honor of my life to serve in the Trump administration. 782 00:41:14,320 --> 00:41:16,759 Speaker 1: Trump encouraged a mob to kill me, But Donald Trump 783 00:41:16,800 --> 00:41:18,879 Speaker 1: and I were great friends until then. It just takes 784 00:41:18,880 --> 00:41:20,719 Speaker 1: a bit of a punch out of the statement here 785 00:41:21,160 --> 00:41:23,279 Speaker 1: for him to say, yes, Donald Trump should he was wrong, 786 00:41:23,760 --> 00:41:27,200 Speaker 1: he should apologize, but but I don't think he's an 787 00:41:27,200 --> 00:41:29,800 Speaker 1: anti semi or a racist. It just sort of it 788 00:41:29,920 --> 00:41:33,040 Speaker 1: makes it a little bit difficult to take the whole statement. Yeah, 789 00:41:33,400 --> 00:41:35,640 Speaker 1: just thirty seconds left here. Joe's that seem sex marriage 790 00:41:35,640 --> 00:41:37,879 Speaker 1: bill gonna get past in the Senate tonight. Gosh, it's 791 00:41:37,880 --> 00:41:41,120 Speaker 1: sure looks like it five last night they move ahead 792 00:41:41,280 --> 00:41:44,640 Speaker 1: with with an amendment. Uh and and yes they have 793 00:41:44,719 --> 00:41:47,200 Speaker 1: a couple of amendments to get through. Mike Lee, Marco Rubio, 794 00:41:47,880 --> 00:41:51,200 Speaker 1: James Langford, they all have amendments to the bill, But 795 00:41:51,400 --> 00:41:55,600 Speaker 1: this would essentially replace uh, the Defensive Marriage Act from 796 00:41:56,719 --> 00:41:58,560 Speaker 1: the House will have to come back around with changes 797 00:41:58,600 --> 00:42:00,680 Speaker 1: on its own. But this is moving along all right. 798 00:42:00,680 --> 00:42:03,759 Speaker 1: Bloomberg Joe Matthew catch more of him tonight five pm. 799 00:42:03,800 --> 00:42:06,879 Speaker 1: Wall Street Time across Bloomberg Radio. Sound on to get 800 00:42:06,880 --> 00:42:10,080 Speaker 1: all the latest from the nation's capital. Read more about 801 00:42:10,120 --> 00:42:12,360 Speaker 1: these stories as well on Bloomberg dot Com or on 802 00:42:12,360 --> 00:42:15,120 Speaker 1: the Bloomberg terminal. And when you ever here in Washington, 803 00:42:15,200 --> 00:42:18,160 Speaker 1: just tune into Bloomberg one one oh five point seven 804 00:42:18,280 --> 00:42:20,160 Speaker 1: FM h D two to get all the latest from 805 00:42:20,160 --> 00:42:23,000 Speaker 1: Bloomberg Radio. Joe said, there's so many channels, as far 806 00:42:23,040 --> 00:42:26,680 Speaker 1: as I'm concerned, there's only one Bloomberg Radio. SFP Futures 807 00:42:26,760 --> 00:42:28,759 Speaker 1: right now up eleven. Del Future is up thirty one, 808 00:42:29,239 --> 00:42:31,680 Speaker 1: NAZAC Future is up fifty five points ten. Your Treasury 809 00:42:31,760 --> 00:42:34,080 Speaker 1: is up six thirty seconds. The old three point six 810 00:42:34,160 --> 00:42:36,600 Speaker 1: five percent yield on the two year just about four 811 00:42:36,680 --> 00:42:39,200 Speaker 1: point four three percent. I x scrugs moving higher as well, 812 00:42:39,200 --> 00:42:42,280 Speaker 1: at two point six percent at seventy five barrel. Bloomberg 813 00:42:42,320 --> 00:42:45,279 Speaker 1: Surveillance is next with Jonathan Farrell. Lisa Abramo wits for 814 00:42:45,360 --> 00:42:49,239 Speaker 1: Karen Moscow I'm Nathan Hager. This is Bloomberg