1 00:00:03,600 --> 00:00:07,920 Speaker 1: This is Bloomberg the first word for this Tuesday, March first, sixteen. 2 00:00:08,080 --> 00:00:10,240 Speaker 1: Coming up this hour, the owner of the New York 3 00:00:10,240 --> 00:00:13,960 Speaker 1: Stock Exchange is considering an offer for the London Stock Exchange. 4 00:00:14,240 --> 00:00:16,880 Speaker 1: Out of Africa, Marclays is selling its stake in its 5 00:00:16,920 --> 00:00:21,040 Speaker 1: Africa business and cutting its dividend as profit plunges. Apple 6 00:00:21,160 --> 00:00:24,160 Speaker 1: heads to a congressional hearing fresh off of privacy victory 7 00:00:24,280 --> 00:00:28,640 Speaker 1: in a Brooklyn court. It is super Tuesday in several states. 8 00:00:28,640 --> 00:00:32,720 Speaker 1: How will voters decide in today's presidential primaries? Him Michael 9 00:00:32,720 --> 00:00:36,440 Speaker 1: Barr That story and more straight ahead, I'm John stash 10 00:00:36,440 --> 00:00:38,600 Speaker 1: hour and sports thrilling wind for the Rangers at the 11 00:00:38,680 --> 00:00:40,800 Speaker 1: garden over Columbus. The Nets fell to the Clippers in 12 00:00:40,960 --> 00:00:42,920 Speaker 1: l a and the Jets make their decision on the 13 00:00:42,920 --> 00:00:46,360 Speaker 1: franchise to That's all straight ahead on Bloomberg. The first 14 00:00:46,400 --> 00:00:50,880 Speaker 1: word on Bloomberg eleventh three oh New York, Bloomberg on Washington, 15 00:00:51,000 --> 00:00:55,200 Speaker 1: d C Bloomberg twelve hundred, Boston, Bloomberg nine six, San Francisco, 16 00:00:55,400 --> 00:00:58,880 Speaker 1: Silius XM one nineteen and around the world on Bloomberg 17 00:00:58,920 --> 00:01:07,240 Speaker 1: dot com and via the Video Plus mobile app. Good morning, 18 00:01:07,240 --> 00:01:10,640 Speaker 1: I'm Karen Moscow, Bob Moon Bloomberg the first word brought 19 00:01:10,640 --> 00:01:14,520 Speaker 1: to you by interactive brokers with direct market access to stocks, options, futures, 20 00:01:14,560 --> 00:01:16,720 Speaker 1: four x, bonds and e t s in over a 21 00:01:16,800 --> 00:01:20,120 Speaker 1: hundred market centers in twenty four countries from one account. 22 00:01:20,280 --> 00:01:22,919 Speaker 1: Who's at I b k R dot com slash trade 23 00:01:22,959 --> 00:01:25,800 Speaker 1: worldwide and it's six so one on Wall Street. We 24 00:01:25,880 --> 00:01:28,520 Speaker 1: checked the markets every fifteen minutes throughout the trading day 25 00:01:28,520 --> 00:01:33,040 Speaker 1: on Bloomberg futures higher, snp Emuni futures up five fourteen points, 26 00:01:33,280 --> 00:01:36,039 Speaker 1: Dowie Mini futures have a hundred twenty and Nash DOCUMENTI 27 00:01:36,080 --> 00:01:38,840 Speaker 1: futures up thirty four Docks in Germany's up one and 28 00:01:38,880 --> 00:01:41,800 Speaker 1: a half percent, ten year treasury down four thir day seconds, 29 00:01:41,840 --> 00:01:44,839 Speaker 1: the yelled one point seven five percent, nimeg screwed oil 30 00:01:44,920 --> 00:01:47,600 Speaker 1: up one point three percent or forty five cents, comes 31 00:01:47,640 --> 00:01:50,640 Speaker 1: gold up half a percent or five dollars ninety cents, 32 00:01:50,640 --> 00:01:53,480 Speaker 1: and the euro a dollar oh eight seven one. There 33 00:01:53,480 --> 00:01:56,320 Speaker 1: may be a bitting war brewing for the London Stock Exchange. 34 00:01:56,360 --> 00:01:58,560 Speaker 1: We get the very that is from Bloomberg's and Edwards 35 00:01:58,600 --> 00:02:02,040 Speaker 1: in our London Bureau of Karen the Intercontinental Exchange has 36 00:02:02,080 --> 00:02:04,840 Speaker 1: confirmed that it's considering making an offer for the LSE, 37 00:02:05,240 --> 00:02:07,840 Speaker 1: a week after rival Deutsche Burza said it was in 38 00:02:07,960 --> 00:02:11,160 Speaker 1: merger talks with the London trading house. I SEE said 39 00:02:11,160 --> 00:02:13,680 Speaker 1: in a statement that it hasn't taken a final decision 40 00:02:13,720 --> 00:02:15,800 Speaker 1: on whether to make an offer and it has not 41 00:02:15,880 --> 00:02:19,320 Speaker 1: yet approached the LC about doing any deal. According to 42 00:02:19,360 --> 00:02:22,240 Speaker 1: people familiar with the matter, i SEE, which already owns 43 00:02:22,280 --> 00:02:25,200 Speaker 1: the New York Stock Exchange, is working with advisors, including 44 00:02:25,240 --> 00:02:28,760 Speaker 1: Morgan Stanley to prepare a possible higher offer, but any 45 00:02:28,760 --> 00:02:31,600 Speaker 1: beardy is unlikely to come before the March twenty second 46 00:02:31,800 --> 00:02:36,600 Speaker 1: UK Takeover Panel deadline for Deutsche Bouza's formal approach. Anna Edwards, 47 00:02:36,639 --> 00:02:40,800 Speaker 1: Bloomberg Radio London Averythink Sana Barklay's shares down more than 48 00:02:40,880 --> 00:02:43,639 Speaker 1: ten percent this morning. Fourth quarter profit fell by more 49 00:02:43,639 --> 00:02:46,520 Speaker 1: than half and the bankers cutting into dividend. Barklay has 50 00:02:46,560 --> 00:02:48,480 Speaker 1: also said it will shell down the stake in its 51 00:02:48,520 --> 00:02:52,359 Speaker 1: Africa business and reorganized the company into two divisions. Here 52 00:02:52,480 --> 00:02:56,720 Speaker 1: Chief executive Jess daley, it's a very difficult decision. Barkley's 53 00:02:56,760 --> 00:02:59,320 Speaker 1: has been in Africa for over one hundred years, but 54 00:02:59,360 --> 00:03:02,800 Speaker 1: as we aren't sixty two point three percent of Barkney's Africa. 55 00:03:03,200 --> 00:03:06,280 Speaker 1: On the other hand, in terms of how the regulators 56 00:03:06,400 --> 00:03:08,480 Speaker 1: think about our ownership and Barkleys, we own a hunter 57 00:03:08,560 --> 00:03:11,400 Speaker 1: percent in terms of the liabilities, so we look at 58 00:03:11,400 --> 00:03:14,800 Speaker 1: the capital charges that we have, funding charges, etcetera. That 59 00:03:14,880 --> 00:03:19,239 Speaker 1: trunk ates significantly the returns that are generated locally in Africa. 60 00:03:20,320 --> 00:03:25,200 Speaker 1: Barklay CEO Jess Dalley, speaking earlier with Bloomberg, Television, profit 61 00:03:25,200 --> 00:03:29,280 Speaker 1: plunges sixent at mining and trading company Glencore. However, the 62 00:03:29,320 --> 00:03:32,079 Speaker 1: stock is up more than one percent after chief executive 63 00:03:32,120 --> 00:03:36,160 Speaker 1: officer Ivan Glassenburg said commodity prices have bottomed and sales 64 00:03:36,200 --> 00:03:39,240 Speaker 1: into China are pretty good. We should know. Peter Grower, 65 00:03:39,320 --> 00:03:41,840 Speaker 1: the chairman of Bloomberg LP, is a senior independent non 66 00:03:41,840 --> 00:03:46,160 Speaker 1: executive director at Glencore. China's factory gauge has extended a 67 00:03:46,240 --> 00:03:50,160 Speaker 1: stretch of declines. Bloomberg First Word Asia's Brian Curtis reports 68 00:03:50,200 --> 00:03:53,760 Speaker 1: from our bureau in Hong Kong. Bob Karen, it's a 69 00:03:53,800 --> 00:03:57,440 Speaker 1: record seven months of worsening conditions for manufacturing, and to 70 00:03:57,520 --> 00:04:00,920 Speaker 1: make matters worse for policymakers, the Serve USS gage slid 71 00:04:00,960 --> 00:04:04,120 Speaker 1: to the weakest in seven years, the manufacturing p m 72 00:04:04,120 --> 00:04:06,680 Speaker 1: I dropping to forty nine in February, missing estimates of 73 00:04:06,760 --> 00:04:09,680 Speaker 1: forty nine point four in the Bloomberg survey, the services 74 00:04:09,720 --> 00:04:12,480 Speaker 1: gage slipping to fifty two point seven from fifty three 75 00:04:12,480 --> 00:04:16,720 Speaker 1: point five, and the separate manufacturing reading from Taichen Media 76 00:04:17,000 --> 00:04:20,080 Speaker 1: failed to forty eight from forty eight point four. Seasonal 77 00:04:20,080 --> 00:04:23,080 Speaker 1: effects may have distorted the readings with the Chinese New 78 00:04:23,120 --> 00:04:26,400 Speaker 1: Year holiday falling in February, but anyway you slice it 79 00:04:26,640 --> 00:04:29,200 Speaker 1: the data do dim hopes that the lending binge back 80 00:04:29,200 --> 00:04:33,680 Speaker 1: in January would help lift growth that hasn't happened. Brian Curtis, 81 00:04:33,720 --> 00:04:37,040 Speaker 1: Bloomberg Radio, Hong Kong. Thanks Brian. Chinese officials a short 82 00:04:37,040 --> 00:04:39,720 Speaker 1: Treasury Secretary A Jack Lu that there's no plan to 83 00:04:39,800 --> 00:04:42,640 Speaker 1: devalue the un who spoke at a briefing in Hong 84 00:04:42,720 --> 00:04:45,120 Speaker 1: Kong today after meeting a day before with Premier at 85 00:04:45,160 --> 00:04:48,320 Speaker 1: Le Ka Chang and Chinese policymakers. He said he was 86 00:04:48,360 --> 00:04:52,239 Speaker 1: told there is no intention or need to devalue China's currency. 87 00:04:53,000 --> 00:04:56,440 Speaker 1: Increased uncertainty of our financial market turbulence is causing a 88 00:04:56,560 --> 00:04:58,960 Speaker 1: Fed Bank of New York President William Dudley to be 89 00:04:59,040 --> 00:05:02,159 Speaker 1: in his words somewhat less confident in the Central Banks 90 00:05:02,160 --> 00:05:05,760 Speaker 1: inflation forecast. Dudley spoke today in China. He stressed that 91 00:05:05,800 --> 00:05:09,159 Speaker 1: he's marked down his growth outlook very modestly, while he 92 00:05:09,240 --> 00:05:12,320 Speaker 1: still expects inflation to reach the two percent target over time. 93 00:05:12,640 --> 00:05:16,839 Speaker 1: Dudley said it downsides risks or downside risks have crept up. 94 00:05:17,000 --> 00:05:21,200 Speaker 1: He insisted, though, that market volatility won't dictate policy decisions. 95 00:05:21,360 --> 00:05:24,480 Speaker 1: Automakers continued to enjoy strong sales last month, according to 96 00:05:24,480 --> 00:05:27,360 Speaker 1: a Bloomberg survey of industry analysts. The car companies issue 97 00:05:27,400 --> 00:05:30,840 Speaker 1: their sales figures for February today, and Bloomberg's Mark Mills 98 00:05:30,880 --> 00:05:34,280 Speaker 1: has a preview. Karen and Bob auto industry analysts forecast 99 00:05:34,360 --> 00:05:38,320 Speaker 1: annualized sales of seventeen point six million cars and light trucks, 100 00:05:38,360 --> 00:05:41,920 Speaker 1: the fastest pace for any February since two thousand. Last month, 101 00:05:42,000 --> 00:05:45,760 Speaker 1: sales were boosted by stable consumer demand combined with President's 102 00:05:45,839 --> 00:05:49,680 Speaker 1: Day sales promotions. Stern A G analyst Michael Ward notes 103 00:05:49,720 --> 00:05:52,120 Speaker 1: that a late January winter storm on the East Coast 104 00:05:52,360 --> 00:05:55,840 Speaker 1: likely pushed some sales into February. Ford may lead the 105 00:05:55,880 --> 00:05:58,160 Speaker 1: way with the twelve point six percent increase in light 106 00:05:58,240 --> 00:06:01,880 Speaker 1: vehicle sales compared to less February according to the Bloomberg Survey. 107 00:06:02,080 --> 00:06:04,840 Speaker 1: Moody says that after stronger than expected sales growth of 108 00:06:04,920 --> 00:06:08,080 Speaker 1: five point eight percent last year, growth will slow sharply 109 00:06:08,160 --> 00:06:11,200 Speaker 1: to nine tenths of one percent in sixteen because much 110 00:06:11,200 --> 00:06:13,719 Speaker 1: of the pent up demand has been met. Mark Mill's 111 00:06:13,800 --> 00:06:17,160 Speaker 1: Bloomberg Radio they smarked in fresh off of court victory 112 00:06:17,200 --> 00:06:19,719 Speaker 1: in Brooklyn, Apple comes in with some wind in its 113 00:06:19,720 --> 00:06:21,720 Speaker 1: sales with it showdown with the government to we get 114 00:06:21,720 --> 00:06:25,000 Speaker 1: the details Life from Bloomberg's John Tucker John Well. Yesterday, 115 00:06:25,000 --> 00:06:27,400 Speaker 1: a judge at Brooklyn Karrent denied the government's bid to 116 00:06:27,480 --> 00:06:30,120 Speaker 1: force Apple to help it gain access to another iPhone 117 00:06:30,160 --> 00:06:32,840 Speaker 1: one that belonged to a drug dealer. This ruling comes 118 00:06:32,880 --> 00:06:35,080 Speaker 1: as members of Congress today are set to grill Apple 119 00:06:35,120 --> 00:06:38,839 Speaker 1: executives about their refusal to unlock the iPhone belonging to 120 00:06:38,920 --> 00:06:42,359 Speaker 1: a terrorist in the San Bernardino shootings. The Brooklyn ruling 121 00:06:42,520 --> 00:06:46,400 Speaker 1: doesn't constitute a legal precedent, but it may frame the debate. 122 00:06:46,680 --> 00:06:49,080 Speaker 1: Kristin Eisenser at the u c l A School of 123 00:06:49,160 --> 00:06:51,360 Speaker 1: Loss is the fact that the magistrate in New York 124 00:06:51,640 --> 00:06:54,480 Speaker 1: found that even the less demanding order that the FBI 125 00:06:54,560 --> 00:06:58,400 Speaker 1: is seeking. There is an unduburden on Apple suggests that 126 00:06:58,440 --> 00:07:01,560 Speaker 1: the more burdensome order in Cali, Cornia violates the law. 127 00:07:02,000 --> 00:07:05,560 Speaker 1: After aiding prosecutors and unlocking at least seventy iPhones, Apple 128 00:07:05,680 --> 00:07:07,520 Speaker 1: last year said it didn't want to serve as the 129 00:07:07,560 --> 00:07:12,560 Speaker 1: government's helper anymore. Karen and Bob, all right, thereks Sean Bloombergh, 130 00:07:12,560 --> 00:07:16,000 Speaker 1: Shahn Tucker, SNP Emni Future is up fourteen points this morning, 131 00:07:16,080 --> 00:07:23,360 Speaker 1: daw Emuni futures up. This is Bloomberg. Karen will move 132 00:07:23,440 --> 00:07:26,640 Speaker 1: along to six or seven on Wall streets. Why this 133 00:07:26,760 --> 00:07:29,520 Speaker 1: day is bound to be a super one. Let's bring 134 00:07:29,560 --> 00:07:31,960 Speaker 1: in Michael bar Now with the latest. Good morning, Michael, 135 00:07:32,280 --> 00:07:36,040 Speaker 1: Good morning, Bob. Bernie Sanders, wife acknowledges at the Vermont Senator, 136 00:07:36,400 --> 00:07:40,800 Speaker 1: faces a rough map on Super Tuesday today, Jane Sanders 137 00:07:40,880 --> 00:07:43,200 Speaker 1: predicts that her husband will split the states with fellow 138 00:07:43,240 --> 00:07:46,520 Speaker 1: Democrat Hillary Clinton, and she says her husband will take 139 00:07:46,680 --> 00:07:50,920 Speaker 1: his campaign through July's Democratic Convention. Meanwhile, Clinton campaign in 140 00:07:51,000 --> 00:07:54,960 Speaker 1: Virginia yesterday. During a stop in Norfolk, Clinton talked about 141 00:07:55,080 --> 00:07:58,559 Speaker 1: Sanders wanting to make college free. If you say it's free, 142 00:07:58,600 --> 00:08:01,680 Speaker 1: You're never gonna get costs under control. The money is 143 00:08:01,720 --> 00:08:04,400 Speaker 1: just gonna flow and they can keep raising the costs. 144 00:08:04,600 --> 00:08:06,720 Speaker 1: We got to get these costs down. That's what I'm 145 00:08:06,760 --> 00:08:10,080 Speaker 1: focused on. Yesterday at the State Department released the final 146 00:08:10,160 --> 00:08:13,400 Speaker 1: batch of emails Hillary Clinton kept on a private server 147 00:08:13,520 --> 00:08:17,200 Speaker 1: while she was Secretary of State. Fourteenth and last batch 148 00:08:17,280 --> 00:08:21,920 Speaker 1: contains about thirty eight hundred pages of email messages. Former 149 00:08:22,000 --> 00:08:25,040 Speaker 1: ku Klux Klan leader David Duke says the media is 150 00:08:25,080 --> 00:08:28,960 Speaker 1: attempting to smear Donald Trump. Duke told Fox News Radio 151 00:08:29,040 --> 00:08:32,000 Speaker 1: that his asking people to vote for Trump is not 152 00:08:32,120 --> 00:08:35,720 Speaker 1: the same as an endorsement. Trump has been roundly criticized 153 00:08:35,720 --> 00:08:39,640 Speaker 1: for declining to immediately disavowed Duke support. During an interview 154 00:08:39,840 --> 00:08:44,360 Speaker 1: on CNN, Trump says he did not hear the question clearly. Yesterday, 155 00:08:44,360 --> 00:08:47,160 Speaker 1: Trump spoke during a rally in Voldosta, Georgia. Now they 156 00:08:47,200 --> 00:08:49,760 Speaker 1: come up, Donald, I'd like to give you ten million 157 00:08:49,800 --> 00:08:52,520 Speaker 1: dollars here campaign, I go, I don't want it. It's 158 00:08:52,559 --> 00:08:56,640 Speaker 1: hard because my whole life so I take money, take money. Now, 159 00:08:56,880 --> 00:08:59,559 Speaker 1: I'm gonna be greedy for the United States. I'm gonna 160 00:08:59,600 --> 00:09:03,800 Speaker 1: take in, take and take. Rival Marco Rubio told the 161 00:09:03,800 --> 00:09:08,040 Speaker 1: crowd in Oklahoma City. Trump is not an electable Republican candidates. 162 00:09:08,080 --> 00:09:10,760 Speaker 1: I'll vote for Donald Trump tomorrow is a vote for 163 00:09:10,840 --> 00:09:14,559 Speaker 1: Hillary Clinton in November. I will not let that happen. 164 00:09:14,640 --> 00:09:17,640 Speaker 1: You should not let that happen. Scientists may have the 165 00:09:17,679 --> 00:09:21,800 Speaker 1: first evidence that zeke can cause temporary paralysis. That's according 166 00:09:21,800 --> 00:09:24,200 Speaker 1: to a new study of patients who developed the rare 167 00:09:24,240 --> 00:09:27,520 Speaker 1: mosquito born condition during an outbreak of the virus and 168 00:09:27,559 --> 00:09:31,439 Speaker 1: Tahiti two years ago. Nevada is experiencing the highest rate 169 00:09:31,440 --> 00:09:34,520 Speaker 1: of syphilis in the West following an outbreak in Las Vegas. 170 00:09:34,880 --> 00:09:37,280 Speaker 1: Health officials say it's part of a national spike and 171 00:09:37,360 --> 00:09:41,640 Speaker 1: anonymous sex tied to social media and a less consistent 172 00:09:41,760 --> 00:09:45,080 Speaker 1: use of condoms. Global News twenty four hours a day, 173 00:09:45,120 --> 00:09:48,880 Speaker 1: powered by our journalists more than a hundred fifty news 174 00:09:48,880 --> 00:09:52,079 Speaker 1: bureaus from around the world. Michael Barr, Bob, thanks very much, 175 00:09:52,120 --> 00:09:54,360 Speaker 1: Michael six O nine on Wall Street and now with 176 00:09:54,360 --> 00:09:57,920 Speaker 1: your Bloomberg NBC Sports Update. Good morning to your John Stasheller. 177 00:09:58,120 --> 00:10:00,640 Speaker 1: Good morning by Rangers continue to play a well. Three 178 00:10:00,679 --> 00:10:03,840 Speaker 1: straight wins. They finished a ten three and one month 179 00:10:03,880 --> 00:10:06,000 Speaker 1: of February. Still haven't had a two game, losing streak 180 00:10:06,040 --> 00:10:08,280 Speaker 1: in all of twenty sixteen. At the Garden, Rangers gave 181 00:10:08,320 --> 00:10:11,040 Speaker 1: Henry Glnquist to night all, still top Columbus two to one, 182 00:10:11,400 --> 00:10:13,760 Speaker 1: now have the second most point in the Eastern Conference. 183 00:10:13,760 --> 00:10:16,200 Speaker 1: Matt Zucarello scored in the first period and Derek step 184 00:10:16,240 --> 00:10:19,120 Speaker 1: On the game winner shorthanded with less than three minutes 185 00:10:19,160 --> 00:10:21,600 Speaker 1: to go in the third. Blue Shirts winning the debut 186 00:10:21,600 --> 00:10:25,240 Speaker 1: of Eric Stall just acquired from Carolina. It's some positive 187 00:10:25,280 --> 00:10:27,120 Speaker 1: since that moment has been had a lot of fun 188 00:10:27,200 --> 00:10:29,080 Speaker 1: coming here and then joining this group. It's a great 189 00:10:29,080 --> 00:10:31,040 Speaker 1: group of guys that made me feel a real welcome 190 00:10:31,080 --> 00:10:33,319 Speaker 1: right off the bat, and uh, it feels real nice 191 00:10:33,320 --> 00:10:36,080 Speaker 1: to get the win. That's what we're focused on here 192 00:10:36,360 --> 00:10:38,760 Speaker 1: as a group. It's going now with his younger brother Mark. 193 00:10:38,760 --> 00:10:41,520 Speaker 1: He was playing with younger brother Jordan's at Carolina Nets. 194 00:10:41,520 --> 00:10:43,079 Speaker 1: With the first of back to back games at the 195 00:10:43,080 --> 00:10:45,720 Speaker 1: Staples Center, they'll face the lowly Lakers tonight, but against 196 00:10:45,760 --> 00:10:48,680 Speaker 1: the Clippers, they fell one oh five ninety five, unable 197 00:10:48,720 --> 00:10:50,839 Speaker 1: to get a season high third straight win as Jamal 198 00:10:50,840 --> 00:10:53,920 Speaker 1: Crawford scored twenty six points, Chris Paul added l A 199 00:10:53,960 --> 00:10:58,080 Speaker 1: Brook Lopez led Brooklyn, with is Kansas emerging as the 200 00:10:58,120 --> 00:11:00,559 Speaker 1: team to beat in the upcoming INC Double eight tournament, 201 00:11:00,600 --> 00:11:02,640 Speaker 1: now ranked number one in the country, and the Jayhawks 202 00:11:02,679 --> 00:11:06,840 Speaker 1: on the road pounded Texas eight six fifty six. North 203 00:11:06,880 --> 00:11:10,480 Speaker 1: Carolina got by Syracuse seventy as expected. The Jets use 204 00:11:10,520 --> 00:11:13,520 Speaker 1: the franchise tag on defensive lineman Moe Wilkerson. If he 205 00:11:13,520 --> 00:11:15,760 Speaker 1: doesn't sign a long term deal, will make fifteen point 206 00:11:15,840 --> 00:11:19,760 Speaker 1: seven million next season. The team the Jets are Forever Chasing, 207 00:11:19,840 --> 00:11:22,440 Speaker 1: made some news as Tom Brady signed a two year 208 00:11:22,520 --> 00:11:26,680 Speaker 1: extension with New England through when Brady will be forty 209 00:11:26,720 --> 00:11:29,800 Speaker 1: two years old. We're at the Bloomberg NBC Sports Update. 210 00:11:29,880 --> 00:11:32,600 Speaker 1: I'm John staf John. Thanks. Over the course of two days, 211 00:11:32,679 --> 00:11:35,480 Speaker 1: Valley and Pharmaceuticals stunned to shareholders with a string of 212 00:11:35,520 --> 00:11:39,800 Speaker 1: surprise disclosures and investor relations scaffs. He in rapid fire succession. 213 00:11:39,800 --> 00:11:42,480 Speaker 1: The drug maker withdrew a financial forecast to lay the 214 00:11:42,520 --> 00:11:45,320 Speaker 1: release of fourth core of results and confirmed the previously 215 00:11:45,360 --> 00:11:48,360 Speaker 1: undisclosed probe by the Securities and Exchange Commission, who came 216 00:11:48,400 --> 00:11:53,520 Speaker 1: to light after media inquiries. The stock dropped eighteen percent yesterday. 217 00:11:53,920 --> 00:11:56,000 Speaker 1: Stay with us, We'll discuss where the campaign for the 218 00:11:56,040 --> 00:11:58,839 Speaker 1: White House stands now with Migan Murphy. Bloomberg d C 219 00:11:58,960 --> 00:12:02,120 Speaker 1: bureau chafe as Donald Trump's rivals try to calm down 220 00:12:02,720 --> 00:12:07,360 Speaker 1: from the hill. Bloomberg the first word brought to by 221 00:12:07,400 --> 00:12:10,280 Speaker 1: Flushing Bank. Open a complete business checking account with fifteen 222 00:12:10,280 --> 00:12:12,720 Speaker 1: thousand dollars and more and get a free sixteen gig 223 00:12:12,760 --> 00:12:16,080 Speaker 1: WiFi tablet. Visit Flushing Bank dot com for details. Member 224 00:12:16,120 --> 00:12:23,600 Speaker 1: f d i C equal housing lender. Global business news 225 00:12:23,679 --> 00:12:26,600 Speaker 1: twenty four hours a day at Bloomberg dot com, the 226 00:12:26,720 --> 00:12:29,800 Speaker 1: radio plus mobile lap and on your radio. This is 227 00:12:29,840 --> 00:12:33,960 Speaker 1: a Bloomberg Business flash and I'm Karen Moscow. This updates 228 00:12:33,960 --> 00:12:36,880 Speaker 1: brought to you buy c i T from transportation to 229 00:12:37,040 --> 00:12:40,800 Speaker 1: healthcare to manufacturing. C i T offers commercial lending, leasing, 230 00:12:40,800 --> 00:12:44,520 Speaker 1: and treasury management services for small and middle market businesses. 231 00:12:44,840 --> 00:12:47,200 Speaker 1: Learn more at c I T dot com. Put knowledge 232 00:12:47,280 --> 00:12:50,160 Speaker 1: to work. Today. We're watching the markets after the SNP 233 00:12:50,320 --> 00:12:53,880 Speaker 1: five fell eight tenths percent yesterday, erasing its February game. 234 00:12:54,240 --> 00:12:57,480 Speaker 1: Global stocks are rallying, a merchant market currencies rising and 235 00:12:57,520 --> 00:13:01,600 Speaker 1: crude oil climbing after investors across Asia responded favorable latest 236 00:13:01,600 --> 00:13:04,640 Speaker 1: stimulus in China. We checked the markets every fifteen minutes 237 00:13:04,679 --> 00:13:07,800 Speaker 1: throughout the trading day. On Bloomberg SNP E Mini Future 238 00:13:07,840 --> 00:13:10,400 Speaker 1: is up sixteen points, DOWI Mini futures up a hundred 239 00:13:10,480 --> 00:13:13,440 Speaker 1: thirty NASTAC EVENI future is up thirty seven. The dacs 240 00:13:13,480 --> 00:13:15,959 Speaker 1: in Germany's up one and a half percent. Ten year 241 00:13:15,960 --> 00:13:18,640 Speaker 1: Treasury down three thirty seconds, the yield one point seven 242 00:13:18,679 --> 00:13:21,880 Speaker 1: four percent. Nimex screwed oil up one point four percent, 243 00:13:21,960 --> 00:13:24,360 Speaker 1: or fifty cents at thirty four twenty three a barrel. 244 00:13:24,559 --> 00:13:27,319 Speaker 1: Comex's gold is up half percent or six dollars fifty 245 00:13:27,400 --> 00:13:30,079 Speaker 1: cents at twelve forty ninety an ounce. The euro a 246 00:13:30,160 --> 00:13:32,720 Speaker 1: dollar oh aight six four the end one thirteen point 247 00:13:32,720 --> 00:13:35,280 Speaker 1: of one nine Today. We're also looking for a report 248 00:13:35,320 --> 00:13:38,199 Speaker 1: on manufacturing from the Institute Force of Line Management at 249 00:13:38,200 --> 00:13:41,199 Speaker 1: ten o'clock Wall Street time, along with construction spending and 250 00:13:41,240 --> 00:13:44,480 Speaker 1: automakers report US sales figures for the month of February. Today. 251 00:13:44,880 --> 00:13:48,439 Speaker 1: Bank of Nova Scotia, Canada's third largest lender by USSETS, 252 00:13:48,440 --> 00:13:51,760 Speaker 1: saying fiscal first quarter profit rose five percent on higher 253 00:13:51,760 --> 00:13:55,000 Speaker 1: earnings from its international business and as a Bloomberg Business 254 00:13:55,080 --> 00:13:57,960 Speaker 1: flash now Here's Michael Barr with more on what's going 255 00:13:58,000 --> 00:14:00,679 Speaker 1: on around the world, Michael Karen, This could be the 256 00:14:00,760 --> 00:14:04,319 Speaker 1: day Republican and Democratic presidential candidates will get some major 257 00:14:04,360 --> 00:14:08,360 Speaker 1: separation from the arrivals. Donald Trump and Hillary Clinton are 258 00:14:08,400 --> 00:14:11,600 Speaker 1: hoping things will break their way during Super Tuesday, the 259 00:14:11,640 --> 00:14:16,120 Speaker 1: busiest day of the twenty six primaries. Republican arrivals Marco 260 00:14:16,240 --> 00:14:19,960 Speaker 1: Rubio and Ted Cruz want to stop Trump. Bernie Sanders 261 00:14:20,040 --> 00:14:24,560 Speaker 1: hopes he can better rally minorities that are mainly Democratic voters. 262 00:14:25,000 --> 00:14:27,680 Speaker 1: The U n. Security Council will vote this afternoon on 263 00:14:27,720 --> 00:14:31,400 Speaker 1: additional sanctions on North Korea. It comes almost two months 264 00:14:31,400 --> 00:14:34,920 Speaker 1: after North Korean leader Kim John And carried out Pyongyang's 265 00:14:34,960 --> 00:14:38,560 Speaker 1: fourth underground nuclear test. In sports, in the NBA and 266 00:14:38,600 --> 00:14:41,120 Speaker 1: the Nets lost to the Clippers, the Celtics beat the Jazz. 267 00:14:41,280 --> 00:14:44,520 Speaker 1: The Wizards down the seventies sixers. In the NHL, the 268 00:14:44,600 --> 00:14:48,080 Speaker 1: Rangers skated past the Blue Jackets. The Sharks beat the Canadians. 269 00:14:48,120 --> 00:14:49,920 Speaker 1: More on these and other stories at the bottom of 270 00:14:49,920 --> 00:14:52,360 Speaker 1: the hour, Bob, Michael bar thank you very much. Let's 271 00:14:52,400 --> 00:14:54,840 Speaker 1: take a little deeper on the importance of today's Super 272 00:14:54,840 --> 00:14:57,320 Speaker 1: Tuesday primaries in about a dozen states, brought to you 273 00:14:57,360 --> 00:15:01,000 Speaker 1: by c i T from transportation to help care to manufacturing. 274 00:15:01,080 --> 00:15:04,240 Speaker 1: C i T offers commercial lending, leasing, and treasury management 275 00:15:04,240 --> 00:15:07,360 Speaker 1: services for small and middle market businesses. Learn more at 276 00:15:07,360 --> 00:15:10,600 Speaker 1: c i T dot com put Knowledge to Work. Megan 277 00:15:10,680 --> 00:15:13,480 Speaker 1: Murphy is our DC Bureau Chief, but this morning we're 278 00:15:13,520 --> 00:15:16,840 Speaker 1: fortunate to have her joining us here at Bloomberg World Headquarters. Megan, 279 00:15:16,880 --> 00:15:18,640 Speaker 1: thanks for coming in. Good to see you. Yeah, thanks 280 00:15:18,640 --> 00:15:20,840 Speaker 1: for having me on. I don't think I've seen a 281 00:15:20,920 --> 00:15:25,040 Speaker 1: super Tuesday as pivotal as this one could be on 282 00:15:25,120 --> 00:15:28,520 Speaker 1: both the Republican and Democratic size. Let's start with the 283 00:15:28,560 --> 00:15:31,960 Speaker 1: Democratic contest. Seems all the pundits are looking to Hillary 284 00:15:31,960 --> 00:15:35,520 Speaker 1: Clinton to use this day to pull away from Bernie Sanders. Yeah, 285 00:15:35,520 --> 00:15:37,960 Speaker 1: that's definitely what we expect. I mean, her sort of 286 00:15:38,040 --> 00:15:41,280 Speaker 1: stunning victory in South Carolina and the margins we saw 287 00:15:41,720 --> 00:15:45,080 Speaker 1: a fifty point overall win, but just huge margins with 288 00:15:45,120 --> 00:15:48,480 Speaker 1: African American voters, huge margins with women, which had been 289 00:15:48,480 --> 00:15:50,520 Speaker 1: a sort of a little source of concern for her 290 00:15:50,560 --> 00:15:53,520 Speaker 1: campaign after her poor showing in New Hampshire. So we 291 00:15:53,560 --> 00:15:57,160 Speaker 1: definitely expect her to solidify her status as not only 292 00:15:57,200 --> 00:15:59,760 Speaker 1: just the front runner in this campaign, but almost the 293 00:15:59,840 --> 00:16:04,040 Speaker 1: verse wual nominee. After today, it would be surprising if 294 00:16:04,080 --> 00:16:07,800 Speaker 1: he gained sort of more states. He might win in Vermont, 295 00:16:07,840 --> 00:16:12,120 Speaker 1: We're looking at Massachusetts, Minnesota, some people are looking at Colorado. 296 00:16:12,400 --> 00:16:15,240 Speaker 1: And the one thing to remember about Bernie Sanders and 297 00:16:15,400 --> 00:16:17,680 Speaker 1: in terms of Hillary Clinton, is that he still has 298 00:16:17,760 --> 00:16:20,440 Speaker 1: quite a bit of money. He raised over forty million 299 00:16:20,520 --> 00:16:23,720 Speaker 1: dollars in February. So even if he doesn't do well 300 00:16:23,760 --> 00:16:26,200 Speaker 1: today and she has a great day as is expected, 301 00:16:26,600 --> 00:16:29,880 Speaker 1: he really has no pressure on him to drop out financially, 302 00:16:29,920 --> 00:16:32,440 Speaker 1: at least now. I haven't been out there, but I 303 00:16:32,480 --> 00:16:36,440 Speaker 1: have noticed, just looking at the coverage that Hillary Clinton 304 00:16:36,480 --> 00:16:40,360 Speaker 1: has seemed to become more comfortable with the campaign. If 305 00:16:40,360 --> 00:16:42,440 Speaker 1: you will, do you do you sense that? I think 306 00:16:42,440 --> 00:16:46,200 Speaker 1: they've always been striving for a perception of being more comfortable. 307 00:16:46,600 --> 00:16:48,760 Speaker 1: It's always a bit difficult with her campaign, and that, 308 00:16:49,160 --> 00:16:51,960 Speaker 1: let's be honest, She's not a natural campaigner. She doesn't 309 00:16:52,000 --> 00:16:55,160 Speaker 1: have the natural political touch say her husband, Bill Clinton did. 310 00:16:55,520 --> 00:16:57,720 Speaker 1: She doesn't have that sort of natural way with people, 311 00:16:57,720 --> 00:17:00,040 Speaker 1: and they do always keep people a bit of a 312 00:17:00,080 --> 00:17:02,560 Speaker 1: bit at a distance. But I think she has gotten 313 00:17:02,920 --> 00:17:05,840 Speaker 1: much more disciplined about her message. She's gotten better on 314 00:17:05,880 --> 00:17:09,480 Speaker 1: the stump. She's become um, you know, sort of less formal. 315 00:17:09,640 --> 00:17:12,240 Speaker 1: She's changed up her message a little bit to hurt 316 00:17:12,320 --> 00:17:15,359 Speaker 1: to hit certain parts of the electorate that she wants 317 00:17:15,359 --> 00:17:18,520 Speaker 1: and needs, where that it's minority voters, women, as I mentioned, 318 00:17:18,560 --> 00:17:21,040 Speaker 1: younger voters as well, which is going to be key. 319 00:17:21,400 --> 00:17:23,840 Speaker 1: So I think she's more comfortable. But it's a measure 320 00:17:23,840 --> 00:17:26,840 Speaker 1: of degree always with her campaign. On the Republican side, 321 00:17:26,880 --> 00:17:29,560 Speaker 1: I guess it depends on your perspective whether this day 322 00:17:29,600 --> 00:17:34,040 Speaker 1: could either settle things or throw things into disarray. I 323 00:17:34,080 --> 00:17:36,399 Speaker 1: think that when we look at today, you know, Donald 324 00:17:36,440 --> 00:17:39,840 Speaker 1: Trump is poised for truly sweeping victories in many of 325 00:17:39,880 --> 00:17:42,480 Speaker 1: these states. And I think even though we keep saying 326 00:17:42,520 --> 00:17:44,359 Speaker 1: this that there will be this day of reckoning for 327 00:17:44,440 --> 00:17:47,639 Speaker 1: the Republican Party, still it feels like a party an 328 00:17:47,680 --> 00:17:50,280 Speaker 1: immense crisis. In fact, it feels more like a party 329 00:17:50,280 --> 00:17:52,240 Speaker 1: in crisis, I think than it has just with the 330 00:17:52,320 --> 00:17:55,520 Speaker 1: dawning realization that at the end of today we may 331 00:17:55,600 --> 00:17:58,480 Speaker 1: see Donald Trump, which is such a huge lead not 332 00:17:58,560 --> 00:18:01,160 Speaker 1: only in terms of the vote and sort of popular 333 00:18:01,280 --> 00:18:03,800 Speaker 1: momentum behind them, but in terms of the delegate count. 334 00:18:04,119 --> 00:18:06,359 Speaker 1: And I think the Republican Party has only seen this 335 00:18:07,080 --> 00:18:10,200 Speaker 1: the establishment wing of that party quite late and has 336 00:18:10,320 --> 00:18:12,800 Speaker 1: moved to mobilize and sort of, you know, put their 337 00:18:12,800 --> 00:18:16,200 Speaker 1: forces behind who they would prefer. Um. This is going 338 00:18:16,240 --> 00:18:18,879 Speaker 1: to be too little, too late. I think many people think, 339 00:18:19,040 --> 00:18:21,800 Speaker 1: have we ever seen a campaign like this where Republican 340 00:18:22,000 --> 00:18:27,360 Speaker 1: leaders are actively sniping at their front runner. It's unbelievable. 341 00:18:27,400 --> 00:18:30,320 Speaker 1: And I was speaking to a sort of prominent Republican 342 00:18:30,359 --> 00:18:33,760 Speaker 1: fundraiser yesterday and he was saying that, look, their biggest 343 00:18:33,800 --> 00:18:36,720 Speaker 1: concern now is that this descends into such out of 344 00:18:36,720 --> 00:18:40,160 Speaker 1: control in terms of um sitting senators, sitting congressmen saying 345 00:18:40,160 --> 00:18:43,240 Speaker 1: they refused to support the Republican nominee if it's Donald Trump, 346 00:18:43,520 --> 00:18:46,480 Speaker 1: you know, that would cause real lasting damage to the party. 347 00:18:46,480 --> 00:18:48,800 Speaker 1: And they're not only looking to Sten where of course 348 00:18:48,840 --> 00:18:51,440 Speaker 1: not only the presidency but the Senate is very much 349 00:18:51,440 --> 00:18:54,600 Speaker 1: in play, but they're even looking beyond Toyen and making 350 00:18:54,600 --> 00:18:57,040 Speaker 1: sure they can still still secure this lead they have 351 00:18:57,200 --> 00:18:59,800 Speaker 1: in state houses and governorships, you know, and sort of 352 00:18:59,840 --> 00:19:03,600 Speaker 1: the big state policy that they've carved out. And there's real, 353 00:19:03,800 --> 00:19:07,479 Speaker 1: real concern among people that this type of race with 354 00:19:07,520 --> 00:19:10,120 Speaker 1: people refusing to tow the line in terms of supporting 355 00:19:10,119 --> 00:19:13,440 Speaker 1: the Republican nominee. If it is Trump will cause lasting damage. 356 00:19:13,880 --> 00:19:17,680 Speaker 1: Break out the popcorn and wait for the returns. Megan 357 00:19:17,760 --> 00:19:21,760 Speaker 1: Murphy is our DC Bureau CHAF, joining us today from 358 00:19:21,800 --> 00:19:27,160 Speaker 1: Bloomberg World Headquarters. SMB many futures this morning up seventeen points, 359 00:19:27,200 --> 00:19:30,200 Speaker 1: that is better than three quarters of a percent. Dally 360 00:19:30,280 --> 00:19:33,840 Speaker 1: Mini's higher by a hundred thirty five points, and nastack 361 00:19:34,000 --> 00:19:37,200 Speaker 1: A many futures up thirty eight points. Treasury prices lower 362 00:19:37,280 --> 00:19:39,520 Speaker 1: this morning. The yield on the ten year up to 363 00:19:39,600 --> 00:19:43,520 Speaker 1: one point seven five percent. West Texas Enemity Accrude is 364 00:19:43,640 --> 00:19:46,080 Speaker 1: up almost one and a half percent to thirty four 365 00:19:46,400 --> 00:19:49,439 Speaker 1: twenty four a barrel and comes gold is higher by 366 00:19:49,520 --> 00:19:54,119 Speaker 1: half a percent to twelve forty one ten cents. Announce 367 00:19:54,359 --> 00:19:58,639 Speaker 1: you're listening to Bloomberg. The first word on Bloomberg Radio. 368 00:20:05,640 --> 00:20:07,879 Speaker 1: The first Word is brought to you by n y 369 00:20:08,040 --> 00:20:10,719 Speaker 1: c B. Ask about their my community interest checking with 370 00:20:10,840 --> 00:20:14,600 Speaker 1: free nyc B online and mobile banking. Earn more, Get more, 371 00:20:14,800 --> 00:20:23,920 Speaker 1: visit nyc B family dot com for the tails. Broadcasting 372 00:20:24,000 --> 00:20:27,639 Speaker 1: live to New York, Bloomberg eleventh RYO to Washington, d 373 00:20:27,680 --> 00:20:32,560 Speaker 1: C Bloomberg to Boston, Bloomberg twelve hundred to San Francisco, 374 00:20:32,680 --> 00:20:37,119 Speaker 1: Bloomberg to the Country series except Channel one ninety and 375 00:20:37,240 --> 00:20:41,359 Speaker 1: around the globe the Bloomberg Radio Plus appen Bloomberg dot Com. 376 00:20:41,400 --> 00:20:45,399 Speaker 1: This is Bloomberg, the first word and it six thirty 377 00:20:45,440 --> 00:20:49,000 Speaker 1: on Wall Street. Good morning. I'm Karen Moscow, I'm Bob Moon. 378 00:20:49,160 --> 00:20:51,840 Speaker 1: We are just about three hours away from the opening 379 00:20:51,960 --> 00:20:54,800 Speaker 1: of US trading on this first day of March. Lests 380 00:20:54,920 --> 00:20:56,480 Speaker 1: get you up to date on the news you need 381 00:20:56,520 --> 00:20:58,960 Speaker 1: to know. At this hour. Stalks are rallying around the 382 00:20:58,960 --> 00:21:02,480 Speaker 1: world and emerging market currencies are higher. As we begin 383 00:21:02,560 --> 00:21:05,080 Speaker 1: the first trading day of the month. The SMP five 384 00:21:05,160 --> 00:21:08,800 Speaker 1: hundred is coming off its third straight monthly decline, mark 385 00:21:08,880 --> 00:21:11,760 Speaker 1: Lay shares down more than ten percent. The bank says 386 00:21:11,800 --> 00:21:14,320 Speaker 1: it will sell down the stake in its Africa business, 387 00:21:14,400 --> 00:21:17,639 Speaker 1: cut its dividend, and move more assets into its non 388 00:21:17,680 --> 00:21:21,119 Speaker 1: core unit. Intercontinental Exchanged, the owner of the n Y 389 00:21:21,200 --> 00:21:23,879 Speaker 1: s C, says it's considering making an offer for the 390 00:21:24,000 --> 00:21:27,399 Speaker 1: London Stock Exchange Group, a week after deutschebor said it 391 00:21:27,480 --> 00:21:30,680 Speaker 1: was in merger talks with the UK company. Industry data 392 00:21:30,720 --> 00:21:34,120 Speaker 1: today could show US manufacturing contracted for the fifth month 393 00:21:34,119 --> 00:21:37,119 Speaker 1: in a row. Economist City I s M Factory Index 394 00:21:37,200 --> 00:21:41,919 Speaker 1: for February will probably register forty eight point five. Bloomberg's 395 00:21:41,960 --> 00:21:44,400 Speaker 1: Viney Deal Judas has that story from the first World 396 00:21:44,440 --> 00:21:48,639 Speaker 1: Desk Readings below fifty signal contraction. The I s M 397 00:21:48,680 --> 00:21:52,080 Speaker 1: index has been below fifty since October, the longest stretch 398 00:21:52,160 --> 00:21:55,679 Speaker 1: since two thousand eight and two thousand nine Januaries reports 399 00:21:55,680 --> 00:21:58,920 Speaker 1: showed weakness and exports and employment, though orders and production 400 00:21:59,000 --> 00:22:01,760 Speaker 1: resume growth. The strong dollar and the collapse in the 401 00:22:01,760 --> 00:22:04,440 Speaker 1: oil industry have been taking a toll at the Bloomberg 402 00:22:04,440 --> 00:22:08,040 Speaker 1: First Word Desk company del Judaicce Bloomberg Radio. China's factory 403 00:22:08,040 --> 00:22:11,560 Speaker 1: gauge extended its stretch of deteriorating conditions to a record 404 00:22:11,640 --> 00:22:14,280 Speaker 1: seven months, while the measure of services fell to the 405 00:22:14,320 --> 00:22:18,399 Speaker 1: weakest in seven years. Euro Area factories cut prices at 406 00:22:18,440 --> 00:22:21,879 Speaker 1: the fastest base in almost three years in February, compounding 407 00:22:21,880 --> 00:22:26,080 Speaker 1: and already worrisome inflation environment for the European Central Bank. 408 00:22:26,520 --> 00:22:29,960 Speaker 1: German joblessness fell for a fifth month in February, and 409 00:22:30,000 --> 00:22:32,840 Speaker 1: a sign that economic momentum will continue to be underpinned 410 00:22:33,080 --> 00:22:37,040 Speaker 1: by household spending. The volatility Index report is brought to 411 00:22:37,080 --> 00:22:40,520 Speaker 1: you by CBOE VIX Options and Futures. Volatility can be 412 00:22:40,560 --> 00:22:44,320 Speaker 1: harnessed with CBOE VIX Options and Futures. See disclosures and 413 00:22:44,440 --> 00:22:49,320 Speaker 1: learn more at cbow dot com. Slash Powerful Outcomes VIX. 414 00:22:50,040 --> 00:22:53,000 Speaker 1: The VIX has gained in two straight sessions. Now the 415 00:22:53,080 --> 00:22:56,760 Speaker 1: next rows three and three quarters percent to twenty fifty five. 416 00:22:56,880 --> 00:23:00,320 Speaker 1: That's the first close above twenty since last Wednesday. And 417 00:23:00,400 --> 00:23:04,000 Speaker 1: that's this morning's volatility report. And future is this morning 418 00:23:04,080 --> 00:23:07,080 Speaker 1: or higher. Snp Emity future is up about eighteen points, 419 00:23:07,160 --> 00:23:10,600 Speaker 1: DOWI Mini futures up a hundred forty, NASH vacuumity futures 420 00:23:10,680 --> 00:23:12,879 Speaker 1: up forty. The DACKS in Germany is up one point 421 00:23:12,920 --> 00:23:16,080 Speaker 1: six percent ten Your Treasury down three thirty seconds. The 422 00:23:16,160 --> 00:23:19,000 Speaker 1: yield one point seven four percent yield on the two 423 00:23:19,119 --> 00:23:22,520 Speaker 1: year point seven eight percent. NIMEX Scrude oil is up 424 00:23:22,520 --> 00:23:24,920 Speaker 1: one point six percent, or fifty six cents, to thirty 425 00:23:24,960 --> 00:23:27,920 Speaker 1: four thirty. A barrel comes gold is up six tenths 426 00:23:27,960 --> 00:23:30,600 Speaker 1: percent or seven dollars ten cents at twelve forty one 427 00:23:30,680 --> 00:23:33,879 Speaker 1: fifty announced in the euro a dollar oh eight six zero. 428 00:23:34,040 --> 00:23:39,159 Speaker 1: This is Bloomberg Karen thank you. That brings us to 429 00:23:39,240 --> 00:23:41,879 Speaker 1: six thirty three on Wall Street, and this news update 430 00:23:41,920 --> 00:23:44,560 Speaker 1: is brought to you by Commonwealth Financial Network. When it's 431 00:23:44,600 --> 00:23:47,320 Speaker 1: time to change the conversation, talk with a broker dealer, 432 00:23:47,440 --> 00:23:49,920 Speaker 1: r I A. Let's ready to listen Call eight six 433 00:23:49,920 --> 00:23:53,280 Speaker 1: six four six two three six three eight or visit 434 00:23:53,359 --> 00:23:56,959 Speaker 1: Commonwealth dot com to learn more. Well, today could be 435 00:23:57,040 --> 00:23:59,520 Speaker 1: a political pivot point. Let's bring in Michael Barr with 436 00:23:59,520 --> 00:24:02,119 Speaker 1: the very this Good morning, Michael, Good morning Bob. It 437 00:24:02,359 --> 00:24:06,960 Speaker 1: is super Tuesday. Several states will hold presidential primaries today. 438 00:24:07,480 --> 00:24:11,359 Speaker 1: Voters who pool Republican primary ballots will pick between the 439 00:24:11,440 --> 00:24:16,439 Speaker 1: five remaining candidates, Donald Trump, Marco Rubio, Ted Cruz, John Kasik, 440 00:24:16,800 --> 00:24:20,280 Speaker 1: and Ben Curson. Trump campaign that a rally in Valdosta, 441 00:24:20,359 --> 00:24:27,800 Speaker 1: Georgia yesterday he was highly educated. Well, well right, we're 442 00:24:27,840 --> 00:24:30,720 Speaker 1: winning with a little bit less than highly educated, which 443 00:24:30,800 --> 00:24:34,560 Speaker 1: is okay. I love you. Rubio, during a rally in 444 00:24:34,600 --> 00:24:37,280 Speaker 1: Oklahoma City, took a swipe at Trump. Donald Trump has 445 00:24:37,320 --> 00:24:39,880 Speaker 1: chosen to appeal to their anger and to their frustrations, 446 00:24:40,520 --> 00:24:42,359 Speaker 1: and he's done so in a way that quite frankly 447 00:24:42,400 --> 00:24:46,320 Speaker 1: boils my blood. The Democratic race features a much tighter 448 00:24:46,359 --> 00:24:52,240 Speaker 1: contest between Hillary Clinton and Bernie Sanders. Sanders, campaigning in Milton, Massachusetts, yesterday, 449 00:24:52,560 --> 00:24:56,680 Speaker 1: asked how Clinton could change Washington while her superpack takes 450 00:24:56,720 --> 00:25:01,119 Speaker 1: big money donations from special interests and not quite so 451 00:25:01,320 --> 00:25:04,600 Speaker 1: sure you'll bring about real change in America if you 452 00:25:04,720 --> 00:25:07,879 Speaker 1: give a speech the Golden Socks for two hundred twenty 453 00:25:08,000 --> 00:25:13,080 Speaker 1: five thousand dollars and you don't release the transcript. Bloomberg 454 00:25:13,080 --> 00:25:17,200 Speaker 1: will have NonStop Super Tuesday coverage throughout the night, starting 455 00:25:17,240 --> 00:25:20,280 Speaker 1: with a special edition of With All Due Respect starting 456 00:25:20,320 --> 00:25:22,600 Speaker 1: at five pm all Street time. We will also have 457 00:25:22,640 --> 00:25:26,480 Speaker 1: analysis on how the results will impact the markets. Congressional 458 00:25:26,560 --> 00:25:29,080 Speaker 1: hearing will be held today on the battle between Apple 459 00:25:29,160 --> 00:25:32,560 Speaker 1: and the US government. House Judiciary Committee will hold hearing 460 00:25:32,600 --> 00:25:36,840 Speaker 1: this afternoon. Meanwhile, Apple is one a case where prosecutors 461 00:25:37,280 --> 00:25:41,000 Speaker 1: wanted it to unlock an iPhone. New York judge says 462 00:25:41,080 --> 00:25:43,919 Speaker 1: the US Justice Department cannot force Apple to provide the 463 00:25:44,040 --> 00:25:49,080 Speaker 1: FBI with access to locked iPhone data in the routine 464 00:25:49,160 --> 00:25:53,800 Speaker 1: Brooklyn drug case. Yesterday's decision follows the California magistrate judges 465 00:25:53,960 --> 00:25:57,200 Speaker 1: order requiring Apple to create software to help the US 466 00:25:57,480 --> 00:26:00,520 Speaker 1: hack the iPhone of a shooter in last was killing 467 00:26:00,520 --> 00:26:04,320 Speaker 1: of fourteen people in San Bernardino. Global News twenty four 468 00:26:04,359 --> 00:26:06,879 Speaker 1: hours a day, powered by our it's two journalists and 469 00:26:06,920 --> 00:26:09,560 Speaker 1: more than a hundred fifty news bureaus from around the world. 470 00:26:09,880 --> 00:26:12,600 Speaker 1: I'm Michael Barr, Bob, Thank you, sir. Michael brings us 471 00:26:12,640 --> 00:26:16,080 Speaker 1: to sixt on Wall Street, and along comes John stash 472 00:26:16,080 --> 00:26:19,560 Speaker 1: Hour now with your Bloomberg NBC Sports Update. Hey John, 473 00:26:19,960 --> 00:26:22,399 Speaker 1: all right, Bob. Rangers and Blue Jackets at the Garden, 474 00:26:22,480 --> 00:26:24,560 Speaker 1: both looking for their third winning A road literally went 475 00:26:24,600 --> 00:26:27,040 Speaker 1: to the wire. Matt Zucarello scored his twenty one of 476 00:26:27,080 --> 00:26:29,800 Speaker 1: the year. First period came Atkinson tinn it for Columbus 477 00:26:30,080 --> 00:26:32,480 Speaker 1: one one late in the third and the Rangers had 478 00:26:32,720 --> 00:26:53,280 Speaker 1: Mark Stall and the penalty box MSG had the call. 479 00:26:53,359 --> 00:26:56,520 Speaker 1: It ended to one, but only after aunt Ironta stopped 480 00:26:56,560 --> 00:26:59,840 Speaker 1: Atkinson in the last second. Columbus actually scored on the rebound, 481 00:26:59,840 --> 00:27:02,720 Speaker 1: but was after time had expired. Nets were in it 482 00:27:02,800 --> 00:27:04,760 Speaker 1: down only to going to the fourth quarter, but beaten 483 00:27:04,760 --> 00:27:06,920 Speaker 1: by the Clippers in l A one oh five ninety five, 484 00:27:06,960 --> 00:27:08,960 Speaker 1: and the Nets right back at the same arena tonight 485 00:27:09,000 --> 00:27:11,280 Speaker 1: to play the Lakers last time. They'll love her face. 486 00:27:11,600 --> 00:27:14,720 Speaker 1: Kobe Bryant College hoops Syracuse could have cemented a spot 487 00:27:14,720 --> 00:27:17,400 Speaker 1: in the n C Double as hung with North Carolina 488 00:27:17,480 --> 00:27:20,880 Speaker 1: butt The tar Heels prevailed seventy seventy. Kansas now ranked 489 00:27:20,960 --> 00:27:23,240 Speaker 1: number one and on the road in eighty six fifty 490 00:27:23,320 --> 00:27:26,600 Speaker 1: six route of Texas. Mo Wilkerson leads the strength of 491 00:27:26,640 --> 00:27:29,280 Speaker 1: the Jets. Their defensive line had a career high twelve 492 00:27:29,320 --> 00:27:31,639 Speaker 1: sacks last season. The Jets want to keep them, so 493 00:27:31,680 --> 00:27:35,040 Speaker 1: they have placed the franchise tagged on Wilkerson. Mets Later. 494 00:27:35,119 --> 00:27:37,919 Speaker 1: Joanna Sespicis continues to make news off the field. At 495 00:27:37,960 --> 00:27:42,480 Speaker 1: spring training. He's been seen driving six different expensive cars. Saturday, 496 00:27:42,960 --> 00:27:45,960 Speaker 1: Cespitis went to the Port St. Lucie Fair, watched the 497 00:27:46,440 --> 00:27:50,480 Speaker 1: hog competition, and then decided to purchase the winning hog 498 00:27:50,640 --> 00:27:53,840 Speaker 1: for seven thousand dollars. With the Bloomberg NBC Sports Update, 499 00:27:53,920 --> 00:27:57,399 Speaker 1: I'm John Stash John, thanks very much. It's now sixty 500 00:27:57,480 --> 00:28:01,000 Speaker 1: seven on Wall Street. The following is in Bloomberg View. 501 00:28:01,320 --> 00:28:05,480 Speaker 1: The opinion section of Bloomberg. Antonin Scalia was probably familiar 502 00:28:05,480 --> 00:28:07,480 Speaker 1: with the phrase no one should be a judge in 503 00:28:07,520 --> 00:28:10,119 Speaker 1: his own cause. The Justice's death at a resort in 504 00:28:10,200 --> 00:28:12,400 Speaker 1: Texas where he was staying free of charge, has raised 505 00:28:12,480 --> 00:28:15,240 Speaker 1: questions about how seriously that notion is taken by the 506 00:28:15,240 --> 00:28:18,480 Speaker 1: Supreme Court. Justices have exempted themselves from the code of 507 00:28:18,520 --> 00:28:21,280 Speaker 1: conduct that applies to other federal judges. They get to 508 00:28:21,320 --> 00:28:25,000 Speaker 1: decide questions about their own impartiality by themselves. In two 509 00:28:25,080 --> 00:28:27,840 Speaker 1: thousand and four, Scalia declined to recuse himself from a 510 00:28:27,880 --> 00:28:31,160 Speaker 1: case involving Vice President Dick Cheney in the energy industry, 511 00:28:31,280 --> 00:28:33,840 Speaker 1: shortly after Cheney and Scalia had gone on a duck 512 00:28:33,880 --> 00:28:37,280 Speaker 1: hunting trip together. Scalia voted in favor of Cheney, right 513 00:28:37,359 --> 00:28:40,240 Speaker 1: or wrong. This did nothing to bolster public confidence in 514 00:28:40,280 --> 00:28:44,480 Speaker 1: the courts impartiality. Justices may also accept junkets, and they 515 00:28:44,520 --> 00:28:47,800 Speaker 1: often do. The Supreme Court does comply with the financial 516 00:28:47,800 --> 00:28:51,120 Speaker 1: disclosure requirements that apply to all federal judges, but Chief 517 00:28:51,160 --> 00:28:53,840 Speaker 1: Justice Roberts has suggested that they do so only out 518 00:28:53,840 --> 00:28:56,239 Speaker 1: of the goodness of their hearts. The Supreme Court has 519 00:28:56,280 --> 00:28:59,920 Speaker 1: a tendency towards opacity, shunning calls for more openness, including 520 00:29:00,000 --> 00:29:03,080 Speaker 1: a refusal to allow cameras into its courthouse. The public 521 00:29:03,120 --> 00:29:06,240 Speaker 1: deserves a court that is more transparent and accountable. This 522 00:29:06,400 --> 00:29:09,360 Speaker 1: editor was written by the Bloomberg vieditorial board on David Shipley. 523 00:29:09,400 --> 00:29:11,360 Speaker 1: For more view, please go to Bloomberg View dot com 524 00:29:11,600 --> 00:29:14,560 Speaker 1: and view go on the Bloomberg terminal. This has been 525 00:29:14,600 --> 00:29:18,040 Speaker 1: Bloomberg View. Bloomberg View editorials can be heard every weekday 526 00:29:18,080 --> 00:29:22,200 Speaker 1: at this time. Former Fed Reserve Chairman Alan Greenspans has 527 00:29:22,280 --> 00:29:25,360 Speaker 1: negative interest rates, if pursued for an extended period of time, 528 00:29:25,480 --> 00:29:28,720 Speaker 1: will eventually distort saving an investment. He spoke to Bloomberg's 529 00:29:28,760 --> 00:29:32,080 Speaker 1: Tom Keene and Michael McKee up to a point, negative 530 00:29:32,080 --> 00:29:35,920 Speaker 1: interest rates have no effect. Why, of course people are 531 00:29:35,920 --> 00:29:39,680 Speaker 1: willing to accept a negative interest rate to hold the 532 00:29:39,760 --> 00:29:44,440 Speaker 1: claims of these particular countries. That's going to change if 533 00:29:44,680 --> 00:29:47,400 Speaker 1: this scores on, and definitely because somebody's gonna start to move. 534 00:29:47,840 --> 00:29:51,040 Speaker 1: We don't know what happens when that happens, and we 535 00:29:51,120 --> 00:29:53,520 Speaker 1: will have more of our interview with former Fed Chairman 536 00:29:53,560 --> 00:29:57,400 Speaker 1: Alan Greenspan on Bloomberg Surveillance at seven am Wall Street time. 537 00:29:57,920 --> 00:30:01,000 Speaker 1: How is influence being wielded in Washington and Bloomberg government 538 00:30:01,040 --> 00:30:04,479 Speaker 1: has been crunching the numbers on lobbying spending in twenty fifteen. 539 00:30:04,680 --> 00:30:07,320 Speaker 1: The show has been relatively flat over the last four years. 540 00:30:07,520 --> 00:30:10,240 Speaker 1: Nancy Lions has more from the Bloomberg ninety nine Washington 541 00:30:10,280 --> 00:30:13,240 Speaker 1: news room. Lobbying dollars continue to hover in the range 542 00:30:13,240 --> 00:30:17,640 Speaker 1: of three point two billion, but Bloomberg Government's quantitative analyst 543 00:30:17,760 --> 00:30:21,320 Speaker 1: Jorge Okius says a shift is taking place. One of 544 00:30:21,320 --> 00:30:24,960 Speaker 1: the things we've noticed, though, are the top corporations are 545 00:30:25,000 --> 00:30:27,840 Speaker 1: spending a little less three year maybe compared to us 546 00:30:27,840 --> 00:30:30,440 Speaker 1: and talk to top of fifteen they spent about seven 547 00:30:30,520 --> 00:30:34,400 Speaker 1: percent less the top spenders between then and now. So 548 00:30:34,440 --> 00:30:38,040 Speaker 1: who is making up the difference? Akias says associations are 549 00:30:38,040 --> 00:30:40,920 Speaker 1: stepping in to fill the gap. They're smaller players now 550 00:30:40,920 --> 00:30:45,160 Speaker 1: in the loving world and asked corporations is spending when 551 00:30:45,240 --> 00:30:49,480 Speaker 1: down smaller players are seeing our opportunity to influence government. 552 00:30:49,720 --> 00:30:52,000 Speaker 1: He says, some of the larger corporations are hoping to 553 00:30:52,040 --> 00:30:56,920 Speaker 1: wield influence by spending more in political contributions and pr campaigns. 554 00:30:57,520 --> 00:31:01,000 Speaker 1: Nancy Lions Bloomberg Radio Thanks NATS. The sports authority, which 555 00:31:01,000 --> 00:31:03,720 Speaker 1: is preparing to file for bankruptcy, has discussed selling stores 556 00:31:03,760 --> 00:31:06,640 Speaker 1: and intellectual property to rival chain Dick Sporting Goods and 557 00:31:06,760 --> 00:31:09,400 Speaker 1: other parties. Two people familiar with the situation say that 558 00:31:09,440 --> 00:31:13,560 Speaker 1: Dick's transaction is one of several options being considered. Smpe 559 00:31:13,600 --> 00:31:21,240 Speaker 1: many futures up seventeen points, nearly one percent. The First 560 00:31:21,240 --> 00:31:23,000 Speaker 1: Word brought to you by Tito Computing, a new kind 561 00:31:23,000 --> 00:31:25,880 Speaker 1: of I T solutions company for workflow, mobility and infrastructure. 562 00:31:26,040 --> 00:31:28,280 Speaker 1: Let them explain how their expertise can help you gain 563 00:31:28,320 --> 00:31:32,240 Speaker 1: greater business value. Visit Tito Computing dot com for more information. 564 00:31:37,360 --> 00:31:40,720 Speaker 1: Global business news twenty four hours a day. If Bloomberg 565 00:31:40,800 --> 00:31:43,880 Speaker 1: dot com the Radio plus Mobile Act and on your radio. 566 00:31:44,160 --> 00:31:48,160 Speaker 1: This is a Bloomberg Business Flash and I'm Karen Moscow. 567 00:31:48,240 --> 00:31:51,320 Speaker 1: It is the first trading day of March, and futures 568 00:31:51,320 --> 00:31:53,480 Speaker 1: are higher this morning. Let's go to the First Word 569 00:31:53,520 --> 00:31:56,840 Speaker 1: breaking news desk for today's morning call, and here's Bill Maloney. 570 00:31:56,840 --> 00:32:00,240 Speaker 1: Good Morningdale, Good morning Karen. That's right. US futures are 571 00:32:00,360 --> 00:32:03,800 Speaker 1: higher following gains in Asia and Europe. Doubt Future is 572 00:32:03,840 --> 00:32:06,160 Speaker 1: currently hired by a hundred and thirty eight points. Sesames 573 00:32:06,200 --> 00:32:09,840 Speaker 1: gains seventeen and as a futures rise by thirty eight. 574 00:32:10,240 --> 00:32:13,400 Speaker 1: Shanghai climb one point six percent overnight, while main up 575 00:32:13,560 --> 00:32:17,160 Speaker 1: markets are led by one point seven percent gains in Germany. 576 00:32:17,400 --> 00:32:19,760 Speaker 1: On the US economic front, at night, forty five market 577 00:32:19,800 --> 00:32:23,200 Speaker 1: US manufacturing and at ten o'clock I s M manufacturing 578 00:32:23,240 --> 00:32:27,080 Speaker 1: and construction spending after the bellast night, GoPro expects to 579 00:32:27,080 --> 00:32:31,040 Speaker 1: record substantial net loss in Q one. Marathon Oil upsized 580 00:32:31,080 --> 00:32:33,360 Speaker 1: a hundred and forty five million she offering priced at 581 00:32:33,560 --> 00:32:36,320 Speaker 1: seven sixty five a share and worked a Q and 582 00:32:36,360 --> 00:32:40,560 Speaker 1: remedy Vue trailed estimates and deal news. Intercontinental Exchanges said 583 00:32:40,560 --> 00:32:43,720 Speaker 1: it may bid for the London Stock Exchange and other news. 584 00:32:43,840 --> 00:32:48,440 Speaker 1: FEDS Dudley said somewhat less confident on inflation outlook finally 585 00:32:48,440 --> 00:32:51,680 Speaker 1: some yearly while sheet upgrades and downgrades. At Bank of America, 586 00:32:51,840 --> 00:32:56,040 Speaker 1: Linear Technology cut to underperform, Freeport mcmurran raised to neutral, 587 00:32:56,360 --> 00:32:59,160 Speaker 1: Kaiser Aluminum raised to buy a Deutsche Bank at Goldman 588 00:32:59,200 --> 00:33:02,680 Speaker 1: Sachs ds W and Steve Madden cut to sell Quest 589 00:33:02,760 --> 00:33:05,720 Speaker 1: Agnostics and Walgreen boots race to buy it, Zouho and 590 00:33:05,840 --> 00:33:10,120 Speaker 1: find me an. RBC United Technologies raised to outperform Life 591 00:33:10,120 --> 00:33:13,160 Speaker 1: in the first breaking new stas gom Bill Maloney, Karen great, 592 00:33:13,200 --> 00:33:15,360 Speaker 1: thanks Bill and to hear live breaking news over her 593 00:33:15,400 --> 00:33:18,720 Speaker 1: Bloomberg type squawk ago on your terminal. That's a Bloomberg 594 00:33:18,760 --> 00:33:21,840 Speaker 1: business flash now here's Michael Barr with more on what's 595 00:33:21,880 --> 00:33:25,400 Speaker 1: going on around the world. Michael Karen, it is Super Tuesday, 596 00:33:25,440 --> 00:33:29,080 Speaker 1: the busiest day of the twenties. Six presidential primaries. Front 597 00:33:29,160 --> 00:33:32,040 Speaker 1: runners Donald Trump and Hillary Clinton hoped to put some 598 00:33:32,120 --> 00:33:35,440 Speaker 1: distance from the rest of the Republican and Democratic field. 599 00:33:35,440 --> 00:33:38,760 Speaker 1: Today President Obama will hold a scheduled face to face 600 00:33:38,840 --> 00:33:42,400 Speaker 1: meeting with the Senate Republican leaders vowing to block his 601 00:33:42,480 --> 00:33:46,200 Speaker 1: Supreme Court nominee. Today's meeting will be the first time 602 00:33:46,240 --> 00:33:49,760 Speaker 1: the leaders have met since the death of Justice antonin Scalia. 603 00:33:50,160 --> 00:33:52,320 Speaker 1: In sports, in the NBA and the Nets lost to 604 00:33:52,360 --> 00:33:55,040 Speaker 1: the Clippers. The Celtics beat the Jazz. The Wizards down 605 00:33:55,040 --> 00:33:58,040 Speaker 1: the seventy six. In the NHL, the Rangers skated past 606 00:33:58,080 --> 00:34:01,640 Speaker 1: the Blue Jackets, the Sharks be the Canadiens. More on 607 00:34:01,840 --> 00:34:05,000 Speaker 1: these and other stories within the hour, Bob, Michael Barr, 608 00:34:05,000 --> 00:34:07,520 Speaker 1: thank you, and Michael mentioned it. It's not as if 609 00:34:07,560 --> 00:34:10,600 Speaker 1: we don't know what everybody will be following in d C. Today. 610 00:34:10,640 --> 00:34:14,440 Speaker 1: We're joined by Mike Shepard, Deputy Managing editor for Bloomberg 611 00:34:14,440 --> 00:34:17,680 Speaker 1: News in Washington. Mike, we've been hitting the Super Tuesday 612 00:34:17,920 --> 00:34:20,759 Speaker 1: pretty hard this morning, but that's because the kind of 613 00:34:20,800 --> 00:34:23,279 Speaker 1: political wallop that it could pack. For both Donald Trump 614 00:34:23,320 --> 00:34:25,839 Speaker 1: and Hillary Clinton. This is their chance to really pull 615 00:34:25,840 --> 00:34:29,359 Speaker 1: away if they can win decisively. Right. Well, that's right. Uh. 616 00:34:29,560 --> 00:34:33,680 Speaker 1: The day will not end with enough delegates from either 617 00:34:33,800 --> 00:34:36,879 Speaker 1: candida to seal the nomination, but it will give them 618 00:34:36,960 --> 00:34:42,080 Speaker 1: enough momentum to break away from their closest rivals. Billionaire 619 00:34:42,120 --> 00:34:44,800 Speaker 1: Donald Trump is holding a wide lead in national polls 620 00:34:44,800 --> 00:34:47,439 Speaker 1: that released as recently as yesterday, and he has rapped 621 00:34:47,480 --> 00:34:51,839 Speaker 1: up some key endorsements, including New Jersey Governor Chris Christie Um, 622 00:34:51,840 --> 00:34:54,799 Speaker 1: even as some of the Republican Party are very squeamish 623 00:34:54,800 --> 00:34:59,040 Speaker 1: about his candidacy and trying to disavow his his presence 624 00:34:59,040 --> 00:35:03,200 Speaker 1: on the ticket. H. Meanwhile, for Hillary Clinton, strong showing 625 00:35:04,000 --> 00:35:07,560 Speaker 1: in in the several Southern states that are voting today 626 00:35:08,040 --> 00:35:12,040 Speaker 1: will help her pull away from uh, from Bernie Sanders 627 00:35:12,080 --> 00:35:15,120 Speaker 1: and her candidate. Her campaign is already looking ahead to 628 00:35:15,200 --> 00:35:18,960 Speaker 1: Trump as the next big hurdle, and and they have 629 00:35:19,200 --> 00:35:22,319 Speaker 1: him in their in their radar screens. Any chance, in 630 00:35:22,360 --> 00:35:26,080 Speaker 1: particular on the Republican side, that the rivals could deliver 631 00:35:26,320 --> 00:35:31,000 Speaker 1: any kind of sting, well, there's always a chance. Uh, 632 00:35:31,280 --> 00:35:33,799 Speaker 1: it's hard to say what voters will do until they 633 00:35:33,840 --> 00:35:37,160 Speaker 1: actually head out to the to the polling places, but 634 00:35:37,520 --> 00:35:40,960 Speaker 1: based on the poll that will be a tall order. Um. 635 00:35:41,080 --> 00:35:45,360 Speaker 1: If Teed Cruz loses his home state of Texas today, 636 00:35:45,400 --> 00:35:48,880 Speaker 1: that will be a serious blow to his to his candidacy. 637 00:35:48,920 --> 00:35:51,160 Speaker 1: So we will see. We will see what happens there. 638 00:35:51,560 --> 00:35:54,759 Speaker 1: And on Capitol Hill, Apple is going to be on 639 00:35:54,800 --> 00:35:58,399 Speaker 1: the spotlight. Yes, this is another story we've been talking 640 00:35:58,440 --> 00:36:01,320 Speaker 1: about a lot lately. In today it moves to Congress. 641 00:36:01,360 --> 00:36:03,680 Speaker 1: The House Judiciary Committee is going to hold a hearing, 642 00:36:04,280 --> 00:36:08,440 Speaker 1: UH hearing testimony from Apple's general council and from FBI 643 00:36:08,560 --> 00:36:11,719 Speaker 1: director in the phone encryption stat between the company and 644 00:36:11,760 --> 00:36:14,799 Speaker 1: the government. UH. The company so far as refusing to 645 00:36:14,880 --> 00:36:17,160 Speaker 1: comply with an order from a federal judge to help 646 00:36:17,200 --> 00:36:20,800 Speaker 1: the FBI unlock a terrorist's iPhone, saying that doing so 647 00:36:20,960 --> 00:36:25,600 Speaker 1: would undermine consumer privacy. Yesterday, Apple won a battle in 648 00:36:25,680 --> 00:36:28,640 Speaker 1: federal court in Brooklyn in an unrelated case but touching 649 00:36:28,640 --> 00:36:31,440 Speaker 1: on the same issue they're. A judge ruled that Apple 650 00:36:31,520 --> 00:36:34,200 Speaker 1: does not have to help the government unlock a drug 651 00:36:34,239 --> 00:36:38,120 Speaker 1: dealer's iPhone in a separate criminal case. Haven't heard much 652 00:36:38,160 --> 00:36:43,280 Speaker 1: about the Supreme Court in recent days. What's the progress there, Well, 653 00:36:43,440 --> 00:36:46,440 Speaker 1: a lot has been taking a place behind the scenes, 654 00:36:46,680 --> 00:36:49,680 Speaker 1: and the President is scheduled to meet Tuesday at the 655 00:36:49,680 --> 00:36:54,360 Speaker 1: White House with top Republican and Democrats from this Senate, 656 00:36:54,680 --> 00:36:56,920 Speaker 1: as well as top lawmakers from both parties on the 657 00:36:56,960 --> 00:36:59,719 Speaker 1: Senate Judiciary Committee, which is the panel of but hold 658 00:36:59,800 --> 00:37:03,719 Speaker 1: here rings on any eventual nominee from from the President 659 00:37:04,120 --> 00:37:06,320 Speaker 1: Obama his name one of his least known but most 660 00:37:06,360 --> 00:37:09,880 Speaker 1: important advisors, Brian D's, to head up the fight to 661 00:37:10,000 --> 00:37:14,040 Speaker 1: find a replacement for the late Supreme Court Justice Antonin Scalia. 662 00:37:14,400 --> 00:37:16,360 Speaker 1: Now inside the White House. Piece is known as the 663 00:37:16,360 --> 00:37:19,560 Speaker 1: guy that President turns to when he needs something tricky. 664 00:37:19,760 --> 00:37:22,920 Speaker 1: Pushed over the finish line that includes the bailout in 665 00:37:22,960 --> 00:37:26,080 Speaker 1: two dozen nine of automakers, to budget deals, and most 666 00:37:26,120 --> 00:37:30,560 Speaker 1: recently the Paris climate accord. My Shepherd, Deputy Managing editor 667 00:37:30,640 --> 00:37:34,080 Speaker 1: for Bloomberg News in Washington, appreciated and a reminder that 668 00:37:34,120 --> 00:37:37,799 Speaker 1: Bloomberg Radio will have NonStop Super Tuesday coverage throughout the night, 669 00:37:38,120 --> 00:37:40,680 Speaker 1: starting with a special edition of With All Due respect 670 00:37:40,800 --> 00:37:43,560 Speaker 1: starting at five pm all street time. We will also 671 00:37:43,600 --> 00:37:47,120 Speaker 1: have analysis on how the results will impact the markets. 672 00:37:47,640 --> 00:37:51,160 Speaker 1: It's now six fifty three on Wall Street. The following 673 00:37:51,280 --> 00:37:55,279 Speaker 1: is from Bloomberg View. Opinions and commentary from Bloomberg columnists. 674 00:37:55,560 --> 00:37:59,200 Speaker 1: I'm Justin Fox, a columnist for Bloomberg View. The cities 675 00:37:59,239 --> 00:38:01,800 Speaker 1: with the healthiest job markets are often those with the 676 00:38:01,880 --> 00:38:05,799 Speaker 1: least affordable real estate. Meanwhile, cities were housing is inexpensive 677 00:38:06,160 --> 00:38:09,120 Speaker 1: usually don't have a lot of great jobs on offer. Still, 678 00:38:09,360 --> 00:38:11,680 Speaker 1: I figured there had to be some places where jobs 679 00:38:11,680 --> 00:38:14,600 Speaker 1: are plentiful and housing a lot cheaper than in Boston 680 00:38:14,719 --> 00:38:17,399 Speaker 1: or New York or San Francisco. So I went looking 681 00:38:17,440 --> 00:38:20,640 Speaker 1: for them in the data, using a Brookings Institution report 682 00:38:20,680 --> 00:38:24,239 Speaker 1: to identify metropolitan areas with better than average economic growth 683 00:38:24,320 --> 00:38:27,760 Speaker 1: since two thousand nine, in a National Association of Realtors 684 00:38:27,800 --> 00:38:30,800 Speaker 1: report to identify those with more affordable than average housing. 685 00:38:31,120 --> 00:38:33,560 Speaker 1: That then sifted out the areas with a below average 686 00:38:33,600 --> 00:38:37,200 Speaker 1: share of college graduates because education levels are a good 687 00:38:37,239 --> 00:38:41,240 Speaker 1: indicator of job quality. Five metropolitan areas met my test. 688 00:38:41,880 --> 00:38:47,400 Speaker 1: Cincinnati and Columbus, Ohio, Minneapolis, Omaha, and Pittsburgh. None of 689 00:38:47,440 --> 00:38:50,200 Speaker 1: these is what you'd call a boom town. Columbus is 690 00:38:50,239 --> 00:38:52,200 Speaker 1: the fastest growing of the bunch, and it's only the 691 00:38:52,239 --> 00:38:56,600 Speaker 1: twentieth fastest growing large metro area nationwide. But these places 692 00:38:56,680 --> 00:39:00,120 Speaker 1: all have unemployment rates well below the national average. The 693 00:39:00,120 --> 00:39:03,560 Speaker 1: Omaha is the lowest at just three. They could grow 694 00:39:03,600 --> 00:39:06,440 Speaker 1: faster if only more people moved there. So what are 695 00:39:06,480 --> 00:39:10,560 Speaker 1: you waiting for? I'm justin Fox, a columnist for Bloomberg View. 696 00:39:10,960 --> 00:39:14,200 Speaker 1: For more Bloomberg opinion and commentary, please go to Bloomberg 697 00:39:14,280 --> 00:39:17,200 Speaker 1: View dot com or view go on the Bloomberg terminal. 698 00:39:17,480 --> 00:39:21,279 Speaker 1: This has been Bloomberg View. Bloomberg commentaries can be heard 699 00:39:21,280 --> 00:39:24,960 Speaker 1: hourly weekday mornings and a small business report has brought 700 00:39:25,040 --> 00:39:27,560 Speaker 1: to you by Go to Meeting, the online meeting solution 701 00:39:27,600 --> 00:39:31,000 Speaker 1: that hosts over a fifty million meetings a year. Easily present, 702 00:39:31,080 --> 00:39:34,040 Speaker 1: collaborate and get work done anywhere using a computer or 703 00:39:34,080 --> 00:39:37,080 Speaker 1: mobile device. Learn more at go to meeting at dot com. 704 00:39:37,200 --> 00:39:45,200 Speaker 1: Now here's John Tucker in the north woods of Quebec, Canada. 705 00:39:45,280 --> 00:39:47,799 Speaker 1: The Night Family has been making maples here for over 706 00:39:47,880 --> 00:39:51,360 Speaker 1: twenty three years. I've got just to probably another twelve 707 00:39:51,400 --> 00:39:55,239 Speaker 1: buckets down here, so we might another ten gallons. Good 708 00:39:55,320 --> 00:39:58,439 Speaker 1: Nights are one of about thirteen thousand, five hundred SAP 709 00:39:58,640 --> 00:40:01,400 Speaker 1: farmers in the province. Quebec has been called the Saudi 710 00:40:01,440 --> 00:40:04,680 Speaker 1: Arabia maple syrup. In fact, they even have their own OPEC, 711 00:40:04,960 --> 00:40:08,399 Speaker 1: the Federation of Quebec Maple Syrup Producers. It's a kind 712 00:40:08,400 --> 00:40:12,000 Speaker 1: of government sanctioned cartel that accounts for sevent of world supply. 713 00:40:12,560 --> 00:40:15,120 Speaker 1: The federation caps output for the Knights and the other 714 00:40:15,200 --> 00:40:19,239 Speaker 1: sat farmers to maintain price stability. But like OPEC, there 715 00:40:19,280 --> 00:40:22,000 Speaker 1: are competitors and other parts of Canada and the Northern 716 00:40:22,120 --> 00:40:25,000 Speaker 1: US that have been boosting supplies to meet rising demand. 717 00:40:25,440 --> 00:40:29,240 Speaker 1: Traditionally used mostly to pour over pancakes or waffles, maple 718 00:40:29,320 --> 00:40:32,280 Speaker 1: syrup is following the same trend as other natural sweeteners. 719 00:40:32,320 --> 00:40:35,480 Speaker 1: Food manufacturers are busy adding maple syrup to everything from 720 00:40:35,560 --> 00:40:39,560 Speaker 1: chips to pop charts. And that's the Bloomberg Small Business Report, 721 00:40:41,000 --> 00:40:44,040 Speaker 1: John Tucker, thanks very much, and now let's check other 722 00:40:44,040 --> 00:40:48,080 Speaker 1: stories making news this morning and on Bloomberg. Top and 723 00:40:48,280 --> 00:40:54,000 Speaker 1: interesting interview with JP Morgan Chase CEO Jamie Diamond conducted 724 00:40:54,040 --> 00:40:57,480 Speaker 1: by Bloomberg's editor in chief John Michael Thwaite. Among the 725 00:40:57,520 --> 00:41:01,000 Speaker 1: topics covered, what is the future of anounced, will Silicon 726 00:41:01,120 --> 00:41:05,600 Speaker 1: Valley challenge Wall Street? And can China build global banks? 727 00:41:05,640 --> 00:41:09,080 Speaker 1: It's all on the Bloomberg terminal, but also on the Bloomberg. 728 00:41:09,080 --> 00:41:11,719 Speaker 1: It's generally accepted that a lot of accounting isn't well 729 00:41:11,920 --> 00:41:15,480 Speaker 1: generally accepted, But with more and more companies promoting bookkeeping 730 00:41:15,520 --> 00:41:18,480 Speaker 1: that deviates from US standards known as GAP for General 731 00:41:18,520 --> 00:41:22,200 Speaker 1: Accepted Accounting principles, the Securities and Exchange Commission is warning 732 00:41:22,200 --> 00:41:25,200 Speaker 1: that getting about or warning about getting too creative. The 733 00:41:25,239 --> 00:41:27,560 Speaker 1: concern is too much non gap accounting could make it 734 00:41:27,600 --> 00:41:30,440 Speaker 1: harder for investors to size up companies, and using non 735 00:41:30,440 --> 00:41:33,759 Speaker 1: standard accounting is perfectly legal provided companies also report the 736 00:41:33,760 --> 00:41:38,560 Speaker 1: official GAP numbers and Karen, if you haven't been following 737 00:41:38,560 --> 00:41:42,120 Speaker 1: at New York City has been battling restaurants again in 738 00:41:42,280 --> 00:41:46,160 Speaker 1: court and a trade group fighting the rule on salts 739 00:41:46,239 --> 00:41:48,439 Speaker 1: which New York City put in place late last year. 740 00:41:48,680 --> 00:41:51,879 Speaker 1: One an emergency reprieve yesterday, one day before the city 741 00:41:51,920 --> 00:41:55,360 Speaker 1: was set to start issuing fines for violations. This is 742 00:41:55,400 --> 00:41:58,000 Speaker 1: the latest twist in a bitter back and forth between 743 00:41:58,000 --> 00:42:01,279 Speaker 1: New York and the National Restaurant Association. Harks back to 744 00:42:01,520 --> 00:42:04,720 Speaker 1: the city's efforts to ban trans fats, require calory counts 745 00:42:04,800 --> 00:42:08,439 Speaker 1: on menus, and limit the size of sugary sodas. This 746 00:42:08,520 --> 00:42:12,640 Speaker 1: one would require a triangular salt shaker icon to be 747 00:42:12,680 --> 00:42:16,680 Speaker 1: placed beside items on the menu with at least milligrams 748 00:42:16,680 --> 00:42:21,160 Speaker 1: of sodium. That would start on Tuesday today, for two 749 00:42:21,239 --> 00:42:24,239 Speaker 1: hundred dollars for each infraction, But now a court has 750 00:42:24,280 --> 00:42:28,640 Speaker 1: put it off until a larger appeals court can consider it. 751 00:42:29,800 --> 00:42:32,239 Speaker 1: And customers can find these stories and more on the 752 00:42:32,280 --> 00:42:35,759 Speaker 1: Bloomberg terminal. And don't forget, we'll have more of our 753 00:42:35,800 --> 00:42:40,440 Speaker 1: interview with Alan Greenspan straight ahead on Buloomberg surveillance for 754 00:42:40,520 --> 00:42:44,200 Speaker 1: Bob Moon. I'm Karen Moscow. This is Bloomberg, the first 755 00:42:44,239 --> 00:42:45,720 Speaker 1: word on Bloomberg Radio.