Speaker 1: Markets, headlines and breaking news twenty four hours a day
Speaker 1: at Bloomberg dot Com, The Bloomberg Business Outland at Bloomberg
Speaker 1: Quick Take, This is a Bloomberg business lash and I'm Karen.
Speaker 1: Moscow and European stocks are taking higher. U S Stock
Speaker 1: Index futures are lower this morning, this after last week
Speaker 1: was the best for the U S stock market and
Speaker 1: more than two years. It's also the first trading day
Speaker 1: of the month. Last month, SMP five d gamed nine
Speaker 1: point two percent and we checked the markets every fifteen
Speaker 1: minutes throughout the trading day on Bloomberg S and P
Speaker 1: futures again lower down nine points down, futures down twenty eight.
Speaker 1: NASDAG futures down thirty one. The decks in Germany's up
Speaker 1: four tenths of upper cent ten. Your treasury down to
Speaker 1: thirty seconds, you know, two point six five percent yield
Speaker 1: on the two year two point nine zero percent. Nine
Speaker 1: vex herd oil is down one point nine percent on
Speaker 1: a dollar eighty two and ninety six dollars eighty cents
Speaker 1: of Earl comic schooled at half percent or eight dollars
Speaker 1: forty tents seventy announced the euro one point two five
Speaker 1: seven against the dollar, British pound one point two to
Speaker 1: five six and the yen at one thirty two point
Speaker 1: oh one. And looking at bitcoin, it's down two point
Speaker 1: at twenty three thousand, two hundred ninety dollars. That's a
Speaker 1: Bloomberg business flashdown. Here's Michael Barrow with Moore on what's
Speaker 1: going on around the world. Michael Karen, thank you very much.
Speaker 1: No public events are on president by schedule today. He
Speaker 1: remains in isolation following his rebound with COVID nineteen after
Speaker 1: treatment with the anti viral drug pax almit. Bill Russell,
Speaker 1: who was the cornerstone of the Boston Celtics basketball dynasty
Speaker 1: in the nineteen fifties and sixties, has died. He was eight.
Speaker 1: And Rick Stenson took home four million dollars from winning
Speaker 1: the controversial live golf Bedminster Invitational. Saudi Arabian funded league
Speaker 1: has drawn criticism. Tickets that former President Trump's Bedminster course
Speaker 1: we're being sold for as little as a dollar among
Speaker 1: light crowds. In baseball, the Yankees lost to the Royals,
Speaker 1: the Mets won the sixth rate beating the Marlins. The
Speaker 1: Red Sox down the Brewers, the Cardinals shut out the Nationals,
Speaker 1: five Zip, the Red Sox beat the oriole or the
Speaker 1: Reds Brother beat the Orioles, The White Sox beat the A's,
Speaker 1: the Giants down the Cubs. Global News twenty four hours
Speaker 1: a day on air and on Bloomberg Quickdake, powered by
Speaker 1: more than seven journalists and analysts more than a hundred
Speaker 1: twenty countries. Michael bar This is Bloomberg, Nathan, Thanks Michael.
Speaker 1: At six nineteen on Wall Street Live from the Bloomberg
Speaker 1: Interactive Brokers studios. This is Bloomberg Daybreak and Jeffrey You
Speaker 1: is with US now senior strategist for e m EA
Speaker 1: Markets at b n Y Melon. As we get ready
Speaker 1: to kick off this new trading month following one of
Speaker 1: the best months for stocks in about a year and
Speaker 1: a half, at least in the US. Jeff, good morning.
Speaker 1: Where do you see the momentum for US risk assets?
Speaker 1: As we get this new month started well to be
Speaker 1: Franca was still somewhat hesitant about chasing risk appetite at
Speaker 1: this point in some sudden view which may be not
Speaker 1: as prevalent as it may feel. A cross market and
Speaker 1: the fed stuff, you know, calling it a day, and
Speaker 1: you know, just moving towards a comfortable level, maybe slightly
Speaker 1: above neutral um to be frank, thinking that that's a
Speaker 1: bit of wishful thinking on the part of markets right
Speaker 1: now inflation expectations and not really being anchored yet, and
Speaker 1: not just for the FED, but globally, more needs to
Speaker 1: be done on tightening, So I think that could derail
Speaker 1: some of the sentiment coming through. So we're still relatively
Speaker 1: cautious and heading into the new trading month. Can you
Speaker 1: be a little bit specific on where you think the
Speaker 1: FED is going to go in terms of the tightening um.
Speaker 1: So overall, if we really want to talk about said
Speaker 1: moving towards a rescriptive and then the prior pricing you know,
Speaker 1: close to four percent, and even if I'm higher for example,
Speaker 1: that is absolutely necessary, but we're not seeing that, to
Speaker 1: be frank notes throughout the year um it really you know,
Speaker 1: has been a case and they're trying to touch those
Speaker 1: levels and before the data start to derail the process.
Speaker 1: If I look at the one year one year in
Speaker 1: the US, so we've got to three point nine in
Speaker 1: the June, but now it's some collapsed to about two
Speaker 1: point seven. The market seems very hesitant, and that's where
Speaker 1: the rude awakening and may becomes so that four percent
Speaker 1: in the golden level perhaps still needs to be touched again.
Speaker 1: What data are you going to be looking at in
Speaker 1: the weeks to come as you further navigate this forecast?
Speaker 1: What what's what's got your eye? Well, the first thing
Speaker 1: this week complearly is going to be pay rolls. You know,
Speaker 1: there's always the headline. Pay rolls numbers are a bit noisy.
Speaker 1: So it's more about the average maale earnings those figures
Speaker 1: and you know, any other indication of the labor market tightness.
Speaker 1: Uh So, you know that's where I wouldn't say it's
Speaker 1: going to change market expectations, but you know, any major
Speaker 1: surprise you know coming through saying well abut five percent
Speaker 1: and average early earnings on an annualized basis above point
Speaker 1: five percent, you know, a sequential level. You know, these
Speaker 1: are numbers which will make the market things again because
Speaker 1: some momentum we need to say much. Even though the
Speaker 1: GDP numbers may suggest otherwise that the US economy is
Speaker 1: in relatively better shape and it compared to the to
Speaker 1: the world, um, it's far less exposed to say, energy
Speaker 1: supply shocks and the use of the Russia, Ukraine. Also
Speaker 1: in all of that put together, it means there is
Speaker 1: greater upside risk of the US economy and that's something
Speaker 1: that markets need to take in mind now. And it's
Speaker 1: interesting just this morning looking at the markets are seeing
Speaker 1: this sort of divergence between European risk assets and US futures,
Speaker 1: some pretty decent gains for European stocks. What's behind that?
Speaker 1: So now that is there's somewhat protecting them. They're given
Speaker 1: how the p m I numbers are not just a
Speaker 1: before Europe and that if you look at the Czech
Speaker 1: Republic for from Poland for example, that these are countries
Speaker 1: which are heavily integrated into the Eurozone supply chain and
Speaker 1: then manufacturing pm MY numbers are just absolutely collapsing. Right. So, um,
Speaker 1: I think the evaluations are coming through, you know, euro
Speaker 1: at these levels and social well above parity now but
Speaker 1: still maybe creating a bit of a possibility and tail wind.
Speaker 1: Um So the broader risk environment that is I'm playing
Speaker 1: a role. Um. But ultimately if you expect the worst
Speaker 1: may be over, then gently people and maybe putting money
Speaker 1: back to work. The ECB probably will have a narrow
Speaker 1: window of tightening compared to the FED, especially if gas
Speaker 1: supplies are going to be disrupted at the winter months
Speaker 1: and into next year. But in the net net, global
Speaker 1: risk appetite every reason to remain cautious. The FED there's
Speaker 1: still the main stumbling block. But also you know China
Speaker 1: growth it still stops start obvious, still have the war
Speaker 1: to contend with, so a lot of issues out there
Speaker 1: which need to be resolved in our last thirty seconds here, Jeff,
Speaker 1: we're the bulk of earning season here. What's your read
Speaker 1: on where earnings go from here? Um, I think go
Speaker 1: earnings now you're starting to see, you knows some divergence
Speaker 1: between on a global basis of those which are exposed
Speaker 1: to the global cycle and those you know which are not.
Speaker 1: And again this is where the US really is in
Speaker 1: better shape. But compared to Europe all the cixical names,
Speaker 1: if we look at where the flows are going, Um,
Speaker 1: these are the current these are the sectors, and these
Speaker 1: are the economies which are underperforming. So this is where
Speaker 1: the divergence will continue to from. You could argue that
Speaker 1: if there's more flow application going to the US and
Speaker 1: that's tightening financial conditions and by the dollar, it helps
Speaker 1: equity markets that it's all going to make life difficult
Speaker 1: for the rest of the bulb. Great to have you
Speaker 1: with us again, jeff Thanks for this, Jeffrey, you senior
Speaker 1: strategist E M. E A at b N Y Melon.
Speaker 1: Right now, SMP futures are down eight points, Stown futures
Speaker 1: down twenty nine sword ANASTACK futures. As we mentioned European
Speaker 1: stocks moving higher. We have the decks in Germany up
Speaker 1: almost four tenths per cent, to CAC in Paris is
Speaker 1: higher by three tenths per cent. Ten your treasury little
Speaker 1: change the yield two point six four on the tenure
Speaker 1: note and the yield on the two year right now
Speaker 1: two point eight nine per cent. You're listening to Bloomberg
Speaker 1: Daybreak Bloomberg eleven three oh weather. These morning showers a
Speaker 1: give way to clouds and the high near eighty today,
Speaker 1: afternoon shower thundershower possible tomorrow with a high back near ninety,
Speaker 1: sunny near ninety for Wednesday. Right now sixty nine in
Speaker 1: Central Park, live from the Bloomberg Interactive Brooker Studios. This
Speaker 1: is Bloomberg day Break for a Monday, August one coming
Speaker 1: up this shour. Traders begin a new month with a
Speaker 1: slew of earnings in focus. One FED president said there's
Speaker 1: a long way to go to hit two percent. Inflation,
Speaker 1: concerned in China grows amid worse than expected economic data,
Speaker 1: and Senator Joe Manchin makes his pitch in favor of
Speaker 1: the climate tax. Film speeding cameras in New York City
Speaker 1: togain operating two seven starting today Blossom. The death toll
Speaker 1: rises from last week's flooding in Kentucky. I'm Michael larn
Speaker 1: four a half, I'm John Stafshower and fourth sixth raight
Speaker 1: win for the Mets, the Yankees blost to the ninth
Speaker 1: inning and widespread reaction to the passing of NBA legend
Speaker 1: and Bill Russell. That's all straight ahead on Bloomberg day
Speaker 1: Break on Bloomberg. He liveing free on New York Bloomberg one, Washington,
Speaker 1: d C Bloomberg one oh six one, Boston Bloomberg nine
Speaker 1: sixties and Francisco syrius XM one nineteen and around the
Speaker 1: world on Bloomberg Radio dot Com and via the Bloomberg
Speaker 1: Business A good morning, I'm Nathan Hagar and I'm Karen
Speaker 1: Moscow and US DO index futures are lower this morning.
Speaker 1: We are coming up to six one on Wall Street,
Speaker 1: and we check the markets every fifteen minutes throughout the
Speaker 1: trading day. On Bloomberg SMP futures down about nine points,
Speaker 1: DWAL future is down twenty six and NASDAG futures down
Speaker 1: twenty eight. The decks in Germany is up a third
Speaker 1: of upper set ten. Your treasury down to thirty seconds.
Speaker 1: Heal two point six five percent. They yield on the
Speaker 1: two year two point eight nine percent. Di mack screwed
Speaker 1: oil is down one point eight percent on a dollar
Speaker 1: seventy five and ninety six dollars eighty seven a cent
Speaker 1: of barrel, and bitcoin this morning down two percent at
Speaker 1: three twenty dollars. Nathan no Well fuadtures are on the
Speaker 1: back foot of it this morning, Karen, as we kick
Speaker 1: off a new trading month, looking ahead to Friday's jobs report.
Speaker 1: Than the debate continues on the health of the US economy.
Speaker 1: Regent Atlantic Capital Chief investment Officer Andy Kapern says, the
Speaker 1: environment's uncertain, but still sticking with value. You should continue
Speaker 1: to stick with what has worked for you so far
Speaker 1: this year, and that is precisely sticking with value, which
Speaker 1: is heaving on energy and heavy on materials and industrials.
Speaker 1: The underlying price of those commodities, they're fundamentally undersupplied. Andy
Speaker 1: Kapern with Regent Atlantic Capital says focusing on value and
Speaker 1: quality can still generate returns in a volatile market. Well
Speaker 1: over the weekend, Nathan, we've got more comments on FED policy.
Speaker 1: Minneapolis Fed President Neil cash Cary said he's not worried
Speaker 1: about whether the US is in a technical recession. He says,
Speaker 1: a central bank is focused squarely on inflation. We're gonna
Speaker 1: do everything we can to try to avoid a recession,
Speaker 1: but we are committed to bringing inflation down and we're
Speaker 1: going to do what we need to do, and we
Speaker 1: are a long way away from achieving an economy that
Speaker 1: is back at two percent inflation, and that's where we
Speaker 1: need to get to. Neil cash Cary said he does
Speaker 1: not see evidence of a US wage price spiral. He
Speaker 1: made the comments on CBSS Face the Nation heard Sundays
Speaker 1: on Bloomberg Radio. Well, stocks are coming off a banner month, Karen,
Speaker 1: but that trend may not continue, according to too high
Speaker 1: profile analysts. Let's get more in this live report from
Speaker 1: Bloomberg's John Tucker. John Nathan earnings results are holding up
Speaker 1: better than feared. Of the fifty percent of the S
Speaker 1: and P five companies that have reported, more than half
Speaker 1: have beaten estimates. Still, Goldman Sack strategist David Constance says
Speaker 1: the rate of earning speeds is trailing the average pace
Speaker 1: that's been set in the last five quarters and Morgan Standards.
Speaker 1: Mike Wilson says the rebounding stocks is likely to be
Speaker 1: short lived as estimates are cut further in the economy
Speaker 1: heads into contraction and a note this morning, Wilson also
Speaker 1: says the bomb market he's assuming the Fed is gonna
Speaker 1: get inflation under control, which is good for fixed income,
Speaker 1: but not stocks. Live in New York on John Tucker
Speaker 1: Bloomberg Daybreak. All right, John, thank you. Another big week
Speaker 1: on Wall Street with economic data and earning is set
Speaker 1: to be the main drivers. Once again, we get more
Speaker 1: from Bloomberg's Turley Pillett. While investors keep an eye on
Speaker 1: the economic data, including a Job's report, they're also focused
Speaker 1: on what corporations are saying about the second half. Solita
Speaker 1: Marceli is chief investment officer for the America's at UBS
Speaker 1: Global Wealth Management. This earning season. We heard a lot
Speaker 1: of talk of recession, but we haven't seen any indication
Speaker 1: and the results Lots of earnings this week across a
Speaker 1: broad swath of industries. Amongst some of the names A
Speaker 1: M D, Airbnb, Caterpillar, Lift, Uber, Marriott, Occidental, Petroleum, Starbucks,
Speaker 1: and Young Brands in New York Charlie Pellett Bloombird Day Break, OK, Charlie,
Speaker 1: thank you. US shail drillers are expected to post accord
Speaker 1: profits this week, and after a decade of Steve losses,
Speaker 1: it looks like shale is finally blossoming. Bloomberg's Rnita Young
Speaker 1: joins US Live with that. Good morning, Rinita, Good morning Nathan.
Speaker 1: Estimates compiled by Bloomberg show the top twenty eight publicly
Speaker 1: traded US independent oil producers generated twenty five point five
Speaker 1: billion dollars in free cash flow in the second quarter.
Speaker 1: That's about a quarter of what they lost over the
Speaker 1: past decade. Fracking revolutionized global energy markets by enabling American
Speaker 1: drillers to harvest shield resources that had previously been untouchable.
Speaker 1: The US went from a declining crew producer to the
Speaker 1: world's dominant oil and gas source, but at an astronomical cost.
Speaker 1: The twenty eight companies lost about one fifteen billion dollars
Speaker 1: in the decade leading up to the COVID nineteen pandemic.
Speaker 1: Live in New York. I'm reneeding young, Bloomberg day Break,
Speaker 1: all right, reneed to thank you about turning over seas Now.
Speaker 1: HSBC shares are at five point nine percent in London
Speaker 1: after the bank turned in a strong earning support. It
Speaker 1: beat profit estimates, vound to restore quarterly dividends and fed
Speaker 1: it off a call to split up. HSBC. CFO You
Speaker 1: and Stevenson spoke to Bloomberg from Hong Kong. Rising rights
Speaker 1: is certainly beneficial to us. Interesting gum was up t
Speaker 1: Q two on Q two, revenues were up twelve for
Speaker 1: st overall, we also kept cost flat, so we had
Speaker 1: an enormous amount of operating leverage. We also had a
Speaker 1: one off tax benefit too, so we're very pleased with
Speaker 1: these results. Chief financial Officer You and Stevenson says HSBC
Speaker 1: is paying close attention to its China real estate ex
Speaker 1: pilot said the eurobe now Karen, where the economic focus
Speaker 1: this week is on the Bank of England. Bloomberg Daybreak,
Speaker 1: europpost Stephen Carroll joins us from London with details. Good morning, Stephen,
Speaker 1: Good morning Nathan and Karen. The Bank of England was
Speaker 1: the first of the major central banks to high rates
Speaker 1: after the pandemic, but now it's playing catch up. Governor
Speaker 1: Andrew Bailey has promised to act forcefully to tackle inflation
Speaker 1: that's running at a forty year high in the UK.
Speaker 1: Markets now see a seventy chance of a fifty basis
Speaker 1: point hike on Thursday. That would be the largest by
Speaker 1: the bank in twenty seven years. This as it's warning
Speaker 1: that inflation cut it eleven percent this year. Live in London,
Speaker 1: I'm Stephen Carroll Bloomberg. Daybreak, Stephen, Thank you Back here
Speaker 1: in the US, we're focused on politics, Bloomberg said. Baxter
Speaker 1: has the story. Senator Mansion says, it all just makes sense.
Speaker 1: We've taken three point five troy and of spending down
Speaker 1: to four dred million of investing without raising any taxes whatsoever.
Speaker 1: And he says he doesn't know now what all the
Speaker 1: dramas about. I didn't know if we could get a deal.
Speaker 1: I did not know if we could come to an agreement,
Speaker 1: So why would I put people through this all this
Speaker 1: draw And he's also making a public pitch to get
Speaker 1: Senator Kirsten's cinema on board. The vote expected this week
Speaker 1: in San Francisco. I'm at Baxter Bloomberg, Gay Break alright, thanks,
Speaker 1: SMP futures down five point, staff features down ten, danste
Speaker 1: futures down eighteen straight ahead, your latest local headlines plus
Speaker 1: a check of sports. This is Bloomberg six oh seven
Speaker 1: on Wall Street where at sixty nine degrees with the
Speaker 1: rain continuing in Central Park westbound seventy eight is closed
Speaker 1: in Warren Township between eggs. It's thirty six and thirty three.
Speaker 1: Details coming up in traffic first, Michael Barr with what
Speaker 1: else is going on for your ride? Michael, thank you
Speaker 1: very much. Nathan smile. You're on traffic camera. Starting today,
Speaker 1: about two thousand speed cameras begin running twenty four hours
Speaker 1: a day every day across New York City. If you're
Speaker 1: caught speeding by the camera, you'll get a fifty dollar
Speaker 1: fine in the mail. However, experts say it usually when
Speaker 1: out result with points on your license. Kentucky Governor Andy
Speaker 1: but Sheer says housing, water, and cell phones service are
Speaker 1: among the priorities the state is focused on bringing back
Speaker 1: to people who have lost everything and last week's deadly
Speaker 1: flooding in eastern Kentucky are confirmed. Count of Kentuckians we've
Speaker 1: lost is now reached twenty eight and we expect that
Speaker 1: there will be more and that that number will grow.
Speaker 1: Governor but Sheer. There are stepped up efforts to slow
Speaker 1: the spread of the monkey pox virus in the US
Speaker 1: despite rising case numbers and limited vaccines applies. There are
Speaker 1: now more than five thousand confirmed cases of monkeypox across
Speaker 1: the US. Officials state cases are concentrated among men who
Speaker 1: have had sex with other men, but because monkey pox
Speaker 1: is spread by skin to skin contact, Dr Alack Patel
Speaker 1: says anyone could catch it. Individuals were in an at
Speaker 1: risk community, will have come in contact with others who
Speaker 1: have symptoms of monkey pox. Are encouraged to go get
Speaker 1: a vaccine, but right now we're seeing long lines in
Speaker 1: order to get the vaccine. Dr Patel spoke to ABC.
Speaker 1: It comes as the New York City Health Department declared
Speaker 1: monkeypox of public health emergency over the weekend. President Biden
Speaker 1: remains in isolation following his rebound with COVID nineteen after
Speaker 1: treatment with an anti viral drug. Dr Darien Sutton says,
Speaker 1: Pat Slovitt is still preventing severe disease and depths even
Speaker 1: when there's a rebound case. Given that what we've seen
Speaker 1: and what we don't know in this pandemic and how
Speaker 1: this virus can change, especially in the setting of the
Speaker 1: omicron variant, I'd recommend that within the ten to even
Speaker 1: fourteen days of your diagnosis of COVID nineteen, you continue
Speaker 1: to wear that well fitting mass around others to decrease
Speaker 1: your risk of transmission. Dr Sutton spoke to ABC. We've
Speaker 1: lost some greats. NBA legend Bill Russell has died at
Speaker 1: eighty eight, more in Sports Ahead, star Treck, actress Nachelle Nichols,
Speaker 1: who broke ground for blacks playing Lieutenant or Hera, has
Speaker 1: died at age eighty nine. And Pat Carroll, the voice
Speaker 1: of Ursula in the Disney classic The Little Mermaid, has
Speaker 1: noted at age. Global News twenty four hours a day
Speaker 1: on air and on Bloomberg Quicktake powered by more than
Speaker 1: journalist sinantalist more than twenty countries. Michael Barr and this
Speaker 1: is Bloomberg name, all right, thank you, Michael. Just about
Speaker 1: six cent on Wall Street this time for the Bloomberg
Speaker 1: Sports Update with John and Nathan. Indeed, NBA legend Bill
Speaker 1: Russell dying peacefully yesterday in his whole at the age
Speaker 1: of eighty eight. You could argue where Russell ranks among
Speaker 1: the greatest players NBA history. He certainly in the conversation
Speaker 1: from a defensive standpoint, he may well have been the best.
Speaker 1: As a rebounder. He averaged twenty three rebounds a game
Speaker 1: he once had fifty one and what is not up
Speaker 1: for debate because it was the greatest winner in NBA history.
Speaker 1: Russell won eleven championships with the Celtics, eight in a row.
Speaker 1: In the last two. He not only played, he was
Speaker 1: the head coach. He played in ten game sevens. He
Speaker 1: won all ten during his career and after Russell often
Speaker 1: a voice against racial and social injustice. Billy Jene King
Speaker 1: yesterday called him a once in a generation activist athlete.
Speaker 1: Barack Obama statement yesterday read as tall as Russell stood,
Speaker 1: his legacy as a player in person rises higher. At stadium,
Speaker 1: Yankees trail the Royals for nothing. That led six for
Speaker 1: after d J will Mayhu two run Homer and Anthony
Speaker 1: Rizzo three run Schapa with one out in the ninth,
Speaker 1: the three run homer by Kansas City Salvador Perez v.
Speaker 1: Clay Holmes, who had not given up a homer all
Speaker 1: year in the Royals at the Yanks eight to six
Speaker 1: in Miami season I nineteen hits for them, at three,
Speaker 1: eight for Jeff McNeil, Marc Kenna, Francisco Lindor a nine
Speaker 1: to three route. So after a two game sweep of
Speaker 1: the Yankees, a three game sweep of the Marlins, the
Speaker 1: Mets manager A Buck show Walt, how hard it is
Speaker 1: to win three games in a row on the road
Speaker 1: and Swain Ballpark in the Major League. That's suppressives. Our
Speaker 1: guys came out without the top of the intensity you
Speaker 1: need to facing a Lopez. Uh, that's you know, he
Speaker 1: face you good pitching here from speaking, a good pitcher
Speaker 1: in the Metro. Now in Washington with Max Sherz are
Speaker 1: on the mount tonight facing his old team, and then
Speaker 1: tomorrow the season debut of Jacob Grim John Stashal War
Speaker 1: Bloomberg Sports Nathan all Right, John, thank you. SMP future
Speaker 1: is now down eight point. Stout futures down twenty six.
Speaker 1: Nastack futures are lower by thirty one points. Ten your
Speaker 1: treasuries down fourth thirty seconds, the yield two point six six.
Speaker 1: This is Bloomberg Bloomberg eleven three oh weather morning showers
Speaker 1: to give away to mostly cloudy skies today and ahn
Speaker 1: your eighty degrees will be back near ninety tomorrow with
Speaker 1: an afternoon shower thundershower possible sunny near ninety for Wednesday.
Speaker 1: Right now sixty nine in Central Park, broadcasting live from
Speaker 1: the Bloomberg Interactive Broker Studio in New York. Bloomberg E
Speaker 1: living free to Washington, d C, Bloomberg ninety nine one
Speaker 1: to Boston, Bloomberg one O six one to San Francisco,
Speaker 1: Bloomberg n sixty to the Country Sirius XM H one
Speaker 1: nine tea, and around the globe to Bloomberg Business app
Speaker 1: and Bloomberg Radio dot Com. This is Bloomberg Daybreak six
Speaker 1: thirty on Wall Street. Good morning, I'm Nathan Hagar and
Speaker 1: I'm Karen Moscow, and we are just about three hours
Speaker 1: away from the open of you West trading time for
Speaker 1: the five things that you need to know to start
Speaker 1: your day on See you by Interactive Brokers. Interactive Brokers
Speaker 1: Global Analysts helps you find new global investment opportunities today.
Speaker 1: Versify your portfolio and discover undervalued companies that may have
Speaker 1: greater growth potential. Try i v k our Global Analysts
Speaker 1: today at i v k R dot com slash g
Speaker 1: A first. US future is lower this morning as we
Speaker 1: kick off a new month. Looking ahead to Friday's job
Speaker 1: support tobate continues on the health of the US economy.
Speaker 1: Regent Atlantic Capital Chief investment officer Andy Kappern says there
Speaker 1: are still returns to be had, focusing on companies that
Speaker 1: are good at generating free cash flow and have the
Speaker 1: financial discipline to be able to deliver on it. But
Speaker 1: seven of the market that stands up the best here
Speaker 1: is divid impairs, and Andy Kapern with Region Atlantic Capital
Speaker 1: says he's not only sticking with quality stocks, but also value.
Speaker 1: Over the weekend, Karen we got more comments on FED policy.
Speaker 1: Minneapolis President Neil cash Car. He said he's not worried
Speaker 1: about whether the US is in a technical recession, but
Speaker 1: we are committed to bringing inflation down and we're going
Speaker 1: to do what we need to do, and we're a
Speaker 1: long way away from achieving an economy that is back
Speaker 1: at two percent inflation. Neil cash Carry was a guest
Speaker 1: on CBS says the nation heard Sundays on Bloomberg Radio Meantime, Nathan,
Speaker 1: Two notable equity strategists say recession fears may camp further
Speaker 1: gains in stocks and more. In this live report from
Speaker 1: Bloomberg's John Tucker, John and Karen You Know note two clients.
Speaker 1: This morning, Morgan Stanley's Mike Wilson warns the US economy
Speaker 1: could be headed for recession. He says risk reward is
Speaker 1: poor after the recent rally, and strategist of Goldman Sacks,
Speaker 1: including David Costan, say the rate of earnings beats is
Speaker 1: trailing the sixty two percent of average pace that was
Speaker 1: set in the last five quarters. They suggest that stocks
Speaker 1: are not out of the woods yet, after posting their
Speaker 1: strongest months since November of twenty Live in New York,
Speaker 1: I'm John Tucker, Bloomberg Daybreak. Thanks John turning the big
Speaker 1: oil now looks like shale could be blossoming again after
Speaker 1: a decade of steep losses. Bloomberg's We Need Young joins
Speaker 1: us live with that. Good morning, Na, Good morning Nathan.
Speaker 1: Several shale companies are set to report earnings this week.
Speaker 1: Estimates compiled by Bloomberg Show, the top twenty eight publicly
Speaker 1: traded US independent oil producers generated twenty five point five
Speaker 1: billion dollars in free cash flow in the second quarter.
Speaker 1: Compare that to the last ten to fifteen years, when
Speaker 1: the companies lost about fifteen billion dollars leading up to
Speaker 1: the COVID nineteen pandemic. Live in New York. I'm gonna
Speaker 1: need a young Bloomberg day break. All right, we need
Speaker 1: to thank you. That's the five things that you need
Speaker 1: to notice start your day. Brought to you by Interactive Brokers.
Speaker 1: And again, futures are moving lower this morning, and as
Speaker 1: straight ahead your latest local headlines plus the check of sports,
Speaker 1: and this is Bloomberg. Thanks Scaring six thirty free on
Speaker 1: Wall Street. Rain in sixty nine degrees in Central Park.
Speaker 1: Still got the closure in Warren Township westbound seventy eight
Speaker 1: between exits thirty six and thirty three. Details coming up
Speaker 1: in traffic. First, Michael Barr with what else is going
Speaker 1: on in New York and around the world. Michael, good morning,
Speaker 1: Good morning, Nathan drivers, slow your role. In New York City.
Speaker 1: About two thousand speed cameras are now operating twenty four
Speaker 1: hours a day, seven days a week across the city
Speaker 1: and he want to run up speeding by the camera,
Speaker 1: can expect a fifty dollar ticket in the mail. Until now,
Speaker 1: the cameras were only running between six am and ten pm. However,
Speaker 1: experts say more than half of traffic depths happen overnight.
Speaker 1: Rescue crews continued to dig through piles of debris from
Speaker 1: deadly flooding last week in Kentucky. At least twenty eight
Speaker 1: people are now dead. Kentucky Governor Andy Basher warns they
Speaker 1: expect to find more bodies in the weeks ahead. Every day,
Speaker 1: every week, every month, and every year it takes to rebuild.
Speaker 1: We are committed to the people of eastern Kentucky. Governor
Speaker 1: Basher says search dogs are being used. No public events
Speaker 1: on President Biden's schedule today. He remains in isolation following
Speaker 1: his rebound with COVID nineteen. After treatment with an anti
Speaker 1: viral drug. Medical experts say pax Lovit is still preventing
Speaker 1: severe disease and depths even when there's a rebound case.
Speaker 1: Dr Derry and Sutton. The theory is that dead Merston
Speaker 1: replicates and causes re down symptoms, as we saw over
Speaker 1: the weekend. As reported by the case of the President.
Speaker 1: Sometimes it doesn't involve symptoms at all. Sometimes it's just
Speaker 1: simply a positive test, which is what we saw. Dr
Speaker 1: Sutton spoke to ABC in Washington today and judge can
Speaker 1: hand down the longest prison term so far. In the
Speaker 1: January six Capitol riot case, prosecutor said Guy Reffit of
Speaker 1: Texas carried a gun on his waist while confronting police
Speaker 1: had the Capitol. His own son testified against him. Prosecutors
Speaker 1: are seeking fifteen years in prison. The very lucky winner
Speaker 1: of Friday's Meganillion's drawing as yet to claim the one
Speaker 1: point thirty four billion dollar prize, the third largest jackpot
Speaker 1: in US history. The winning tickets sold at a speedway
Speaker 1: gas station in Illinois, near Chicago. Once the winner does
Speaker 1: come forward, financial expert Carter Codfield recommends saving some of
Speaker 1: the cash for tax payments. On average, of people that
Speaker 1: win the lattery are broke within the threes of five years.
Speaker 1: Se of people are broke with the three D five years,
Speaker 1: and those people say, if the life is actually worse
Speaker 1: at the one in the latter reach. Financial expert Carter
Speaker 1: Goldfield Global News twenty four hours a day on air
Speaker 1: and on Bloomberg Quick Take powered by more than hundred
Speaker 1: journalists and analysts more than a hundred twenty countries. Michael Barr,
Speaker 1: this is Bloomberg, Nathan, Thank you, Michael. Almost six thirty six.
Speaker 1: On Wall Street, John stash Our has the Bloomberg Sports
Speaker 1: Update Nights. Nathan Bill Russell, of course, NBA legend, Boston
Speaker 1: sports Icon. He passed away yesterday at the age of
Speaker 1: eighty eight. Russell arrived in Boston in ninety six immediately
Speaker 1: began leading the Celtics to NBA championships. By the time
Speaker 1: he was finished, he had more championship rings than fingers.
Speaker 1: Don't wear them on eleven and all. This came after
Speaker 1: two n C Double A Championships at the University of
Speaker 1: San Francisco, where he once won fifty five games in
Speaker 1: a row, also to California high school state titles and
Speaker 1: an Olympic gold medal. In arguably the greatest winner in
Speaker 1: team sports history. But as NBA Commissioner Adam Silver said,
Speaker 1: Russell stood for something more than sports. He was a
Speaker 1: tireless activist against racial and social injustice. At the stadium,
Speaker 1: Yankees trail the Royals for nothing, then led six to
Speaker 1: four e j the Mayo who to run homer? Anthony
Speaker 1: Rizzo a three run shot is twenty five. Kansas City
Speaker 1: got a run in the eightheity no. Rob Marinaccio had
Speaker 1: been unhitable against. And then with one out in the ninth,
Speaker 1: Schwing had a drive to center field and that ball
Speaker 1: is gonna be carrying and it is out of here.
Speaker 1: Home run Salvador Perez. He puts the Royals in the
Speaker 1: lead in the top of the night. How about that
Speaker 1: we run homer case csp. They called the homer the
Speaker 1: first that Clay Holmes had allowed this season. The Yanks
Speaker 1: had been six and up against the Royals K six.
Speaker 1: Yankees host Seattle tonight. The Mets are in Washington. Max
Speaker 1: Jerser goes tonight and Jacob to Graham tomorrow. Mets have
Speaker 1: won six and row beat the Marlins nine to three
Speaker 1: for the nineteen hit attacked. The remain three games ahead
Speaker 1: of Atlanta on the PG eight Tour. Second straight win
Speaker 1: for Tony Finelle in Detroit. He's at under par in
Speaker 1: New Jersey to Live Tour winner and rixtensive Bloomberg Sports
Speaker 1: Thank you John six thirty seven on Wall Street. Time
Speaker 1: to take a look at stocks, some of the names
Speaker 1: moving in the pre market and apparently the box office
Speaker 1: with Bloomberg Radio and TV markets correspondent Crety GOOFDA based
Speaker 1: on what's on your early morning list. Good morning Creaty,
Speaker 1: Good morning Nathan. Let's start off with the question, have
Speaker 1: you seen the DC League of super Pets? I don't
Speaker 1: know what the DC League of super Pets is? You know,
Speaker 1: I didn't either until I looked at Warner Brothers Discovery
Speaker 1: stock w b D of one percent. Don't worry, it
Speaker 1: all comes full circle. It wasn't a random question. This
Speaker 1: is a movie. It's an animated family film from Warner Brothers.
Speaker 1: It did top a weaker North American box office this weekend,
Speaker 1: twenty three million dollars in its opening weekend across four
Speaker 1: thousand domestic cinemas. This is huge for Warner Brothers. Is
Speaker 1: this looks like it got quite a bit. And of course,
Speaker 1: as we know, we've talked about this a MC a
Speaker 1: lot when they have a big movie release, for example
Speaker 1: Spider Man No Way Home and you saw AMC stock rally.
Speaker 1: It's a similar story here with Warner Brothers at Discovery.
Speaker 1: So nevertheless, del you b D is one of your
Speaker 1: pre market movers up here up about one percent this morning, Nathan. Alright,
Speaker 1: so it's a movie, I guess, is what we're from
Speaker 1: that all right? So what else is high flying this morning?
Speaker 1: High flying? What a clever, clever word play. Boeing is
Speaker 1: the one we're gonna look at next. But b A
Speaker 1: is your ticker. The shares are up at this four
Speaker 1: percent and the climbing. So some good news, you know,
Speaker 1: it's usually not something you see from Boeing shares that
Speaker 1: they have been under quite a lot of pressure lately.
Speaker 1: Two bits of good news here. The first part they
Speaker 1: have averted for a few days at least in August
Speaker 1: first strike by twenty five hundred machinists that would have
Speaker 1: crippled it's St. Louis area fighter jet plans. Use regulars
Speaker 1: had to prove the plan to inspect and repair these
Speaker 1: tiny structural flaws in Bowing seven seven dreamliners. That's the
Speaker 1: second part of the good news. That's a major milestone
Speaker 1: towards resuming deliveries that really haven't gone anywhere since late
Speaker 1: So bonus number one is that August first strike it
Speaker 1: looks like it is delayed. And the bonus number two
Speaker 1: is that those U s regulators did approve the plans
Speaker 1: to inspect a little bit of regulatory help from there
Speaker 1: as well. Nevertheless, be a is your Taker up about
Speaker 1: four percent this morning, and also keep in mind that
Speaker 1: those deliveries are really important when it comes to bowing
Speaker 1: kind of building back up their backlog. Remember, they've had
Speaker 1: a lot of tensions with this kind of covid era,
Speaker 1: so to have those shares higher is once again a
Speaker 1: very big deal. Nathan, I'm gonna end here with some
Speaker 1: crypto as we all love to talk about it. You
Speaker 1: do have a Bitcoin dropping under pressure once again, probably
Speaker 1: in line with on the risk sentiment you're seeing in
Speaker 1: stocks that are you commodities as well, but as taking
Speaker 1: with it down. Some of these crypto stocks ride blockchain,
Speaker 1: for example, the minor r IoT down three point seven.
Speaker 1: He also had the likes of coin based c o
Speaker 1: I n is Your Taker down one percent, Nathan, that's
Speaker 1: something you're seeing across the crypto complex this morning. All right,
Speaker 1: Bloomberg Radio and TV Markets correspondent pretty gooped up with
Speaker 1: us as we get ready to kick off a new
Speaker 1: trading month, or watching futures move a touch lower. We
Speaker 1: have SMP futures right now down eight points down, Futures down,
Speaker 1: that's the will changed. Nasdaq futures down thirty points to
Speaker 1: drop about a quarter of one percent. Ten. Your treasury
Speaker 1: is down to thirty seconds, the yield two point six
Speaker 1: five and the yield on the two year right now
Speaker 1: two point eight nine percent. You're listening to Bloomberg Daybreak
Speaker 1: Bloomberg eleventh three Weather. We're expecting mostly cloudy afternoon with
Speaker 1: a high near eighty, but we'll be back near nine
Speaker 1: tomorrow with a risk crafting new showers, thundershowers, sunny near
Speaker 1: ninety for Wednesday. Right now sixty nine in Central Park markets.
Speaker 1: Headlines and breaking news twenty four hours a day at
Speaker 1: Bloomberg dot Com, the Bloomberg Business and at Bloomberg Quicktake.
Speaker 1: This is a Bloomberg Business lash. Hey, good morning, I'm
Speaker 1: kared Moscow futures are lower this morning. We go to
Speaker 1: the first word breaking news, dask for today's morning and call,
Speaker 1: and here's Tatiana darry A, Tatiana, good morning, Good morning, Karen.
Speaker 1: Like you said, Futures in the red today, with Dove
Speaker 1: futures off by twenty eight points, their SMPS down nine
Speaker 1: and nas Jack down thirty three days tenure yield up
Speaker 1: about a basis point to two spot sixty six percent,
Speaker 1: Oil is down to and Bitcoin is lower for a
Speaker 1: second session. On the economic front, today, the final reading
Speaker 1: for S and P Global Manufacturing p m A and
Speaker 1: July's I SAM Manufacturing at ten in early trading. Warner
Speaker 1: Brothers up one percent after its new movies Super Pets,
Speaker 1: topped the box office this weekend, and Boeing is up
Speaker 1: three after regulators approved some tweaks to its seven eighties
Speaker 1: seven Dreamliner and the company managed to avoid a strike. Today.
Speaker 1: Regarding earnings, diagnostics provider Perking Elmer boosted as guidance beating
Speaker 1: estimates and wrapping things up. Target was raised to overweight
Speaker 1: at Wells Fargo, and the startup price was boosted at
Speaker 1: Jeffreys Live from the First Breaking News Desk. I'm Tatiana
Speaker 1: Daria Karen alright, Danna, thank you, and here live breaking
Speaker 1: news over a Bloomberg catch squawk on your terminal squ
Speaker 1: a w K and that's a Bloomberg business flash. Now
Speaker 1: here's Michael Barr with more on what's going on around
Speaker 1: the world. Michael, Karen, thank you very much. How Speaker
Speaker 1: Nancy Pelosi is in Singapore, kicking off er Asian tour,
Speaker 1: has questions swirled over a possible stop in Taiwan that
Speaker 1: has fueled tension with Beijing. Foreign Ministry spokespersons said Pelosi
Speaker 1: will call on Singapore's President and Prime Minister. Bill Russell,
Speaker 1: who was the cornerstone of the Boston Celtics basketball dynasty
Speaker 1: in the nineteen fifties and sixties, has died. He was
Speaker 1: eight and Rick Senson won the controversial Saudi Back Lived
Speaker 1: Golf's Bedminster Invitational at former President Trump's golf course. In baseball,
Speaker 1: the Yankees lost to the Royals eight six. The Mets
Speaker 1: won their sixth right, beating the Marlins nine three. The
Speaker 1: Red Sox down the Brewers. The Cardinals shut out the
Speaker 1: Nationals five zip. The Reds beat the Orioles, the White
Speaker 1: Sox beat the A's, the Giants on the Cups. Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quick Tank, powered by more than seven under journalist
Speaker 1: and analysts more than twenty countries. I'm Michael bar this
Speaker 1: is Bloomberg Careing. Alright, Michael, thank you. At A sixty
Speaker 1: nine on Wall Street returned to news and Science and
Speaker 1: Technology Now with the Bloomberg n j I T STEM Report.
Speaker 1: It is brought to you by New Jersey Institute of Technology,
Speaker 1: ranked top fifty national public university by US News and
Speaker 1: World Report, and top ten in the nation for engineering
Speaker 1: by Money dot Com. Learn more at n j I
Speaker 1: T dot E d U and Here's just making news
Speaker 1: in science, Technology, engineering and math. Tesla has signed new
Speaker 1: long term deals with two of its existing Chinese battery
Speaker 1: materials suppliers, the latest move by automakers to secure supplies
Speaker 1: amid intensifying competition. The deals are for chemical cocktails that
Speaker 1: are key to storing energy and lithium ion batteries. And
Speaker 1: Indonesia has tasked its state telecom conglomerate pt Telecom with
Speaker 1: creating a metaverse to promote local firms that compete with
Speaker 1: foreign services. It launched Medanesia, a virtual world meant to
Speaker 1: help Southeast Asia's the largest economy, adapted the fast changing
Speaker 1: online landscape. It's the nation's the latest effort to take
Speaker 1: back control of the Internet from Google and Facebook. And
Speaker 1: remnants of a massive Chinese rocket fell back to Earth
Speaker 1: over the Indian Ocean on Saturday, leading US space officials
Speaker 1: to again criticize China's lack of information sharing about its
Speaker 1: boosters reentering the atmosphere, and as the Bloomberg and j
Speaker 1: I t Stem report Nathan, all right, Karen, thank you.
Speaker 1: We are live from the Bloomberg Interactive Broker Studios, where
Speaker 1: it's six fifty on Wall Street and ounce. Time to
Speaker 1: check what's going on in d C. Where Democratic Senator
Speaker 1: Joe Manchin made the rounds on every Sunday political show
Speaker 1: to pitch his tax and energy deal with Majority leader
Speaker 1: Chuck Schumer. If I had a chance to fix the
Speaker 1: energy policy of the United States of America and I
Speaker 1: didn't do it, shame on me. If I had the
Speaker 1: chance to reduce the amount of inflation in people in
Speaker 1: West Virginia and across the country or enduring right now,
Speaker 1: shame on me. That was Senator Mansion on CBSS Face
Speaker 1: the Nation, But a Wharton School analysis suggests the bill
Speaker 1: would have little impact on inflation. Mentioned tells Fox News Sunday,
Speaker 1: he respectfully disagrees. We paid down three hundred billion dollars
Speaker 1: of taxes and to debt reduction. Okay, three hundred We've
Speaker 1: never done that. In twenty five years. We basically have
Speaker 1: taken two billion dollars in savings that reduced the drug
Speaker 1: prices for Americans across the board, and asked whether Democrat
Speaker 1: Kirsten Cinemas on board. Mansion told ABC's This Week, she
Speaker 1: has an awful lot in this piece of legislation, the
Speaker 1: way it's been designed, as far as the reduction of Medicare,
Speaker 1: letting Medicare go ahead and negotiate for lower drug prices,
Speaker 1: She's very involved in that. Also making news, roadblocks in
Speaker 1: the Senate over a bill that would expand benefits for
Speaker 1: war veterans exposed to toxic burn pits. Republicans pulled their
Speaker 1: support over what they say is a budgetary gimmick. Comedian
Speaker 1: John Stewart advocated for the bill on NBC's Meet the Press.
Speaker 1: The bill that Ted Cruise voted yes had the exact
Speaker 1: same funding provisions as the bill he voted no. It's
Speaker 1: the exact same bill. None of this makes any sense.
Speaker 1: Meet the Press this Week, Fox News Sunday, and Face
Speaker 1: the Nation can all be heard every Sunday right here
Speaker 1: on Bloomberg Radio. And now we're joined by Bloomberg Government
Speaker 1: reporter Emily Wilkins. After Senator Mansion made the rounds on
Speaker 1: the Show's Emily what's next for the Inflation Reduction bill?
Speaker 1: So I think what everyone is now all eyes are
Speaker 1: on Kirsten Sema and Manson's comments really hit home the
Speaker 1: fact that she has not yet decided. Her office said
Speaker 1: that she's still looking at the bill, that she's not
Speaker 1: going to be able to make any sort of call
Speaker 1: on what she will or will not support until this
Speaker 1: week at the earliest. And this could really mean, I mean,
Speaker 1: this is the thing, Nathan. I mean, we've all talked about,
Speaker 1: you know, President Joe Mansion moved about that, but really
Speaker 1: in this Senate, it's anyone who could wind up sinking
Speaker 1: a piece of legislation. And certainly we could see Kristen's
Speaker 1: completely and democratic hopes of getting anything in this package done.
Speaker 1: If she decides that she's not going to be able
Speaker 1: to vote for it and there's not able to compromise, well,
Speaker 1: what's the indication on where Senator Cinema could land on this?
Speaker 1: Where has she stood when it comes to the kinds
Speaker 1: of tax provisions that are in this bill, the closing
Speaker 1: of loopholes, right, So, I mean that's sort of always
Speaker 1: been her big concern, and that's where we saw that
Speaker 1: she had concerns previously. There's that carried the interest tax break.
Speaker 1: It does tend to benefit hedge funds a lot of
Speaker 1: Wall Street folks, and in the past she has been
Speaker 1: opposed to closing that loophole. Um and so that's something
Speaker 1: that is currently in the bill. It's something that Mansion
Speaker 1: has said that he wants in the bill because it
Speaker 1: does help raise revenue UM And we don't yet know
Speaker 1: where Senator Cinema stands on this. Mansion uh noted on
Speaker 1: the TV shows the Sunday that there are lot of
Speaker 1: things in this bill that would help out her and
Speaker 1: help out her constituents, I particularly when you look at Medicare,
Speaker 1: when you look at lowering drug pricing UM. But at
Speaker 1: this point, I think it really just is a giant
Speaker 1: question mark exactly how she's going to come down on this.
Speaker 1: Are there question marks as well, Emily about whether every
Speaker 1: provision that's in this bill is going to stand muster
Speaker 1: with the Senate Parliamentary and that everything is going to
Speaker 1: be able to pass with just fifty votes from the Democrats.
Speaker 1: There are definitely, I mean, with the parliamentary and you
Speaker 1: never quite know. I think for this one, there were
Speaker 1: certainly some provisions that raise a lot of question marks,
Speaker 1: and you know, people are like, well, I'm not sure
Speaker 1: that that's actually going to go through. I'm thinking of
Speaker 1: some of the immigration provisions they initially tried. But I
Speaker 1: think this time around, a lot of the stuff that
Speaker 1: they're proposing it does have that clear budgetary impact. Um.
Speaker 1: It was a lot of this stuff was kind of
Speaker 1: clearing hurdles the last time around that we were looking
Speaker 1: at a major spending package, and so I think there's
Speaker 1: a lot of confidences that stuff will go through. But
Speaker 1: of course, you know, things it written differently on the
Speaker 1: parliamentarian does have the final say, and speaking of things
Speaker 1: getting written differently, I guess that's part of what happened
Speaker 1: with this burn pit bill that looked like it was
Speaker 1: going to sail through the Senate now has run into
Speaker 1: some issues. Can you tell us more about that. Yeah,
Speaker 1: So there are two kinds of different things going on
Speaker 1: with this bill. Number one, there are some Republicans who
Speaker 1: are concerned about the language um because it does create
Speaker 1: an additional four hundred billion dollars in discretionary spending that's
Speaker 1: not related to veterans, and Republicans say they have a
Speaker 1: problem with that. That's in Nathan eighty four senators total.
Speaker 1: So a number of Republicans voted for this bill just
Speaker 1: a couple of weeks ago, and then a number of
Speaker 1: senators changed their mind, not because of anything within the
Speaker 1: bill specifically, but because um Democrats announced that they were
Speaker 1: moving forward with their reconciliation plan, and that's certainly something
Speaker 1: Republicans did not want to see happening. At one point,
Speaker 1: Senator Mitch McConnell was leveraging his this republic plicant support
Speaker 1: of the Chips Bill, and it was very interesting timing.
Speaker 1: You saw, you know, McConnell back off say, okay, Republicans
Speaker 1: will help Democrats with Chips because it doesn't seem like
Speaker 1: you're going to get a reconciliation package. The Chips Bill
Speaker 1: passes the Senate, and then just a few hours later,
Speaker 1: Schumer and Anson are like, actually, we do have a
Speaker 1: deal on reconciliation. And then so this vote took place
Speaker 1: shortly after Sure says he's gonna be bringing it back
Speaker 1: to the floor. We're going to see an amendment being
Speaker 1: offered to address some of that of four hundred billion
Speaker 1: in discretionaries spending, and the bill is expecting to pass
Speaker 1: this week when it comes back to the floor. You've
Speaker 1: actually had a group of veterans that have camped out
Speaker 1: on the Senate steps, failing to stay there in protests
Speaker 1: until this bill addressing burn pits passes just thirty seconds left. Emily,
Speaker 1: I know you're watching Speaker Pelosi's trip through Asia. Do
Speaker 1: we have any further indication on whether she is planning
Speaker 1: to go to Taiwan? So we did report last week
Speaker 1: that Speaker Pelosi was planning to go to Taiwan. We've
Speaker 1: now seen similar are reporting from a number of other
Speaker 1: outlets saying that she's planned on going there, But at
Speaker 1: this point her trip of Tenerary does not include any
Speaker 1: specific mention of Taiwan. Of course, the Speaker has emphasized
Speaker 1: that she does not talk about trips before she goes
Speaker 1: on them because of security and safety concerns. Certainly those
Speaker 1: concerns must be heightened for something like Taiwan, where there
Speaker 1: has where Beijing has promised a strong and immediate retribution
Speaker 1: should she go. Thanks, Emily, always good to have you
Speaker 1: with us. Bloomberg Government reporter Emily Wilkins with us from
Speaker 1: the nation's capital. SMP Future is now down nine points
Speaker 1: down futures down twenty four Nasdaq futures lower by twenty
Speaker 1: seven points. Bloomberg Surveillance is next, with Tom Keene, Jonathan Farrell,
Speaker 1: and Lisa Abramowitz for Karen Moscow. I'm Nathan Hagar, and
Speaker 1: this is Bloomberg