1
00:00:04,440 --> 00:00:07,720
Speaker 1: By from the Bloomberg Interacted Brooker Studios. This is Bloomberg

2
00:00:07,760 --> 00:00:11,320
Speaker 1: Gay Break for Friday, June three, two. Coming up this hour,

3
00:00:11,800 --> 00:00:14,880
Speaker 1: President Biden pleads with Congress to tough and gun laws.

4
00:00:15,280 --> 00:00:18,680
Speaker 1: New York lawmakers raised the h device semi automatic rifles.

5
00:00:19,079 --> 00:00:22,520
Speaker 1: Investors await them. May employment report and job cuts may

6
00:00:22,520 --> 00:00:25,680
Speaker 1: be coming at Tesla. Lawmakers agreed to a financial boost

7
00:00:25,680 --> 00:00:28,520
Speaker 1: to repair New York City's public housing developments. Plus the

8
00:00:28,520 --> 00:00:31,800
Speaker 1: man Hunt Court sixes prisoners gap killed five on the

9
00:00:31,840 --> 00:00:34,800
Speaker 1: Loos is Over. I'm Michael Larer or a half. I'm

10
00:00:34,840 --> 00:00:37,280
Speaker 1: John Stashow. In sports, the Mets shout out by the Dodgers,

11
00:00:37,280 --> 00:00:39,440
Speaker 1: The Yankees swept a double letter from the Angels, the

12
00:00:39,520 --> 00:00:45,000
Speaker 1: Celtics one Game one of the NBA Final. That's All's

13
00:00:45,040 --> 00:00:49,280
Speaker 1: tradinghead on Bloomberg Daybreak on Bloomberg eleven three on New York,

14
00:00:49,479 --> 00:00:54,160
Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston,

15
00:00:54,440 --> 00:00:59,200
Speaker 1: Bloomberg nine sixties and Francisco Sirius XM one nineteen and

16
00:00:59,240 --> 00:01:02,440
Speaker 1: around the world Long Bloomberg Radio dot Com and The

17
00:01:02,480 --> 00:01:09,360
Speaker 1: Bloomberg Business. And Good Morning. I'm Nathan Hager and I'm

18
00:01:09,440 --> 00:01:13,200
Speaker 1: Karen Moscow and USTCK index futures are lower this morning.

19
00:01:13,240 --> 00:01:15,119
Speaker 1: We are coming up to six o one on Wall Street,

20
00:01:15,160 --> 00:01:17,319
Speaker 1: and we check the markets every fifteen minutes throughout the

21
00:01:17,319 --> 00:01:21,000
Speaker 1: trading day. On Bloomberg SMP future is down thirteen points

22
00:01:21,000 --> 00:01:24,160
Speaker 1: this morning. Down futures down seventy six. Nasdack futures down

23
00:01:24,160 --> 00:01:27,360
Speaker 1: seventy two. The decks in Germany is up a third

24
00:01:27,400 --> 00:01:30,480
Speaker 1: of a percent. Ten year Treasury down three thirty seconds,

25
00:01:30,480 --> 00:01:33,120
Speaker 1: the yield two point in nine to two percent, and

26
00:01:33,160 --> 00:01:35,959
Speaker 1: the yield on the two year two point six four percent.

27
00:01:36,360 --> 00:01:39,000
Speaker 1: NIMEX scrude oil is down seven tenths per cent or

28
00:01:39,000 --> 00:01:41,559
Speaker 1: seventy nine cents at a hundred sixteen dollars six cents

29
00:01:41,560 --> 00:01:43,960
Speaker 1: of barrel. Comex goal down to tenths per cent or

30
00:01:44,000 --> 00:01:47,080
Speaker 1: three dollars nineties cents at eighteen sixty seven fifty. Announced

31
00:01:47,440 --> 00:01:51,200
Speaker 1: Bitcoin is at thirty thousand, two hundred thirty dollars. Nathan,

32
00:01:51,320 --> 00:01:53,360
Speaker 1: all right, Karen, thank you. This morning, we begin with

33
00:01:53,400 --> 00:01:56,240
Speaker 1: a plea for action from President Biden after a wave

34
00:01:56,320 --> 00:02:00,320
Speaker 1: of deadly mass shootings across the country. Do something, Just

35
00:02:00,720 --> 00:02:05,240
Speaker 1: do something, for God's sake, do something. In a primetime

36
00:02:05,280 --> 00:02:07,480
Speaker 1: address from the White House, the President called for a

37
00:02:07,520 --> 00:02:10,359
Speaker 1: ban on assault weapons, at high capacity magazines and an

38
00:02:10,440 --> 00:02:14,280
Speaker 1: end to lawsuit protections for gunmakers. President said responsible gun

39
00:02:14,320 --> 00:02:17,079
Speaker 1: owners should not be worried about their rights going away.

40
00:02:17,440 --> 00:02:21,760
Speaker 1: Machine guns have been federally regulated for nearly ninety years,

41
00:02:22,480 --> 00:02:25,640
Speaker 1: and this is still a free country. This isn't about

42
00:02:25,639 --> 00:02:30,880
Speaker 1: taking to anyone's rights shot protecting children, while protecting families,

43
00:02:31,800 --> 00:02:35,359
Speaker 1: while protecting whole communities. As President Biden spoke, the House

44
00:02:35,480 --> 00:02:37,840
Speaker 1: Judiciary Committee approved a bill that would raise the minimum

45
00:02:37,840 --> 00:02:40,639
Speaker 1: age to buy semi automatic rifles and also banned high

46
00:02:40,639 --> 00:02:43,959
Speaker 1: capacity magazines. That bill is not likely to pass in

47
00:02:44,000 --> 00:02:47,320
Speaker 1: the Senate. Meantime, Nathan lawmakers in New York have raised

48
00:02:47,360 --> 00:02:49,840
Speaker 1: the age to buy semi automatic rifles. The New York

49
00:02:49,880 --> 00:02:53,639
Speaker 1: state legislature approved increasing the legal age to from eighteen.

50
00:02:53,960 --> 00:02:56,720
Speaker 1: It also passed a package aimed at reducing the likelihood

51
00:02:56,720 --> 00:02:59,919
Speaker 1: of mass shootings by tightening rules to purchase firearms and

52
00:03:00,040 --> 00:03:03,519
Speaker 1: other military equipment. In neighboring New Jersey, Karen Governor Phil

53
00:03:03,600 --> 00:03:06,720
Speaker 1: Murphy says he's optimistic his state will also enact stronger

54
00:03:06,760 --> 00:03:09,079
Speaker 1: gun laws. New Jersey is one of the strongs gun

55
00:03:09,080 --> 00:03:12,200
Speaker 1: safety states in America. We've got a lot past to

56
00:03:12,400 --> 00:03:14,959
Speaker 1: sign in our four and a half years because yet

57
00:03:15,000 --> 00:03:17,960
Speaker 1: another package of bills that we think to make our

58
00:03:18,000 --> 00:03:20,400
Speaker 1: stadia the safer, and we want to get those over.

59
00:03:20,440 --> 00:03:23,200
Speaker 1: The New Jersey Governor Phil Murphy was a guest on

60
00:03:23,200 --> 00:03:26,119
Speaker 1: Bloomberg's Balance of Power. Catch the show weekdays at noon

61
00:03:26,120 --> 00:03:29,760
Speaker 1: Eastern on Bloomberg Radio and Television. In the interests of transparency,

62
00:03:29,800 --> 00:03:32,320
Speaker 1: we should note that Michael Bloomberg, the founder and majority

63
00:03:32,360 --> 00:03:35,000
Speaker 1: owner of Bloomberg LP, the parent company of Bloomberg Radio,

64
00:03:35,120 --> 00:03:37,640
Speaker 1: is a donor two groups that support gun control. Well.

65
00:03:37,680 --> 00:03:40,560
Speaker 1: Another major story we're following this morning, Nathan, the House

66
00:03:40,600 --> 00:03:44,160
Speaker 1: panel investigating last year's Capitol Hill insurrection is ready to

67
00:03:44,200 --> 00:03:47,840
Speaker 1: take its findings public. Bloomberg's Amy Morris has details from

68
00:03:47,880 --> 00:03:50,960
Speaker 1: our ninety nine one newsroom in Washington. After nearly a

69
00:03:51,040 --> 00:03:55,000
Speaker 1: year of investigation, subpoenas, and testimony, the January sixth panel

70
00:03:55,000 --> 00:03:57,000
Speaker 1: will lay out its findings for the public in a

71
00:03:57,120 --> 00:04:00,400
Speaker 1: series of hearing starting next Thursday. Most of their work

72
00:04:00,400 --> 00:04:02,920
Speaker 1: has been behind closed doors, but now members say the

73
00:04:02,920 --> 00:04:07,120
Speaker 1: panel will present previously unseen material documenting what happened on

74
00:04:07,200 --> 00:04:10,880
Speaker 1: January six and provide a summary of its findings. The

75
00:04:10,920 --> 00:04:13,080
Speaker 1: first of a series of public hearings is set for

76
00:04:13,240 --> 00:04:16,520
Speaker 1: eight o'clock Thursday night. It's prime time in the US

77
00:04:16,640 --> 00:04:20,679
Speaker 1: to give the investigation maximum exposure. In Washington, I'm maybe

78
00:04:20,680 --> 00:04:23,840
Speaker 1: more as Bloomberg Daybreak, Okay, Amy, thank you. Also in Washington,

79
00:04:23,920 --> 00:04:26,200
Speaker 1: this morning we get the release of the May jobs report.

80
00:04:26,240 --> 00:04:29,599
Speaker 1: Economists predict three twenty thousand non farm payrolls are created

81
00:04:29,680 --> 00:04:33,320
Speaker 1: last month. Regardless, Andrew Husby US and Canada economists for

82
00:04:33,320 --> 00:04:36,880
Speaker 1: Bloomberg Economics, does not think the report will impact FED policy.

83
00:04:37,160 --> 00:04:39,159
Speaker 1: You know, early signs that labor demand is cooling, But

84
00:04:39,200 --> 00:04:41,280
Speaker 1: certainly there's nothing in this report that's going to shape

85
00:04:41,279 --> 00:04:44,440
Speaker 1: the head off of tightening moves of at least fifty

86
00:04:44,480 --> 00:04:47,520
Speaker 1: basis points the next couple of meeting. Andrew husband Bloomberg

87
00:04:47,640 --> 00:04:50,760
Speaker 1: Economics says, look for that next half percent hike at

88
00:04:50,800 --> 00:04:53,760
Speaker 1: the FEDS policy meeting coming up June. Well, the feds

89
00:04:53,760 --> 00:04:56,800
Speaker 1: major focus right now, of course, is curbing inflation. Black

90
00:04:56,920 --> 00:04:59,240
Speaker 1: Rock chair and CEO Larry Fink is weighing in on

91
00:04:59,279 --> 00:05:01,279
Speaker 1: the matter, and he knows Bloombery the FED may not

92
00:05:01,360 --> 00:05:03,839
Speaker 1: have the tools right now to deal with higher prices.

93
00:05:04,200 --> 00:05:09,680
Speaker 1: There's greater recognition that inflation is is not transitory. It

94
00:05:09,800 --> 00:05:12,560
Speaker 1: is probably with us for a number of years, and

95
00:05:12,600 --> 00:05:15,039
Speaker 1: at the type of inflation that I don't believe the

96
00:05:15,040 --> 00:05:17,840
Speaker 1: Federal Reserve has the policy or the tools to do

97
00:05:18,440 --> 00:05:21,479
Speaker 1: much with it right now. And I'm personally not blaming

98
00:05:21,480 --> 00:05:23,880
Speaker 1: the Federal Reserve for where they where we are right now,

99
00:05:24,240 --> 00:05:26,800
Speaker 1: but I believe most of the problems we're living with

100
00:05:26,839 --> 00:05:30,680
Speaker 1: today are more policy generated and supply generated. Black Rocks

101
00:05:30,720 --> 00:05:33,000
Speaker 1: CEO Larry Think maybe the comments in an interview with

102
00:05:33,040 --> 00:05:35,840
Speaker 1: The Bloomberg's David Weston. Here more of that conversation in

103
00:05:35,880 --> 00:05:38,559
Speaker 1: just a few minutes. Well, let's go to corporate News now, Karen,

104
00:05:38,560 --> 00:05:41,160
Speaker 1: and the latest from Elon Musk. The Testa CEO has

105
00:05:41,160 --> 00:05:44,240
Speaker 1: reportedly told executives the electric carmaker needs to cut staff

106
00:05:44,279 --> 00:05:48,160
Speaker 1: by abound ten percent. According to Reuter's, Musk sent out

107
00:05:48,160 --> 00:05:51,880
Speaker 1: an email titled pause all hiring worldwide. The report says

108
00:05:51,960 --> 00:05:54,840
Speaker 1: Musk has a quote super bad feeling about the economy.

109
00:05:55,040 --> 00:05:57,240
Speaker 1: Testa shares are down more than three and a half

110
00:05:57,279 --> 00:05:59,880
Speaker 1: percent in early trading. On the flip side, Nathan well

111
00:06:00,080 --> 00:06:03,080
Speaker 1: Art is adding employees. The retailer will build four new

112
00:06:03,120 --> 00:06:05,839
Speaker 1: e commerce warehouses and a push to speed deliveries. The

113
00:06:05,839 --> 00:06:08,800
Speaker 1: move will create more than four thousand jobs. It also

114
00:06:08,839 --> 00:06:12,039
Speaker 1: will let Walmart reach nine of the US population with

115
00:06:12,120 --> 00:06:15,600
Speaker 1: one or two days shipping. That's from about seventy right

116
00:06:15,600 --> 00:06:18,640
Speaker 1: now on the earning strite today, Karen Shares of Lululemon

117
00:06:18,680 --> 00:06:21,280
Speaker 1: Athletica are up more than one percent in early training.

118
00:06:21,279 --> 00:06:24,039
Speaker 1: The company reported results that beat estimates. We get the

119
00:06:24,040 --> 00:06:28,120
Speaker 1: details from Bloomberg's Doug Prisner. The athletic ware retailer reported

120
00:06:28,120 --> 00:06:32,039
Speaker 1: comp stores sales rose in the first quarter and net

121
00:06:32,080 --> 00:06:36,239
Speaker 1: revenue reached one point six billion dollars. Importantly, Lulu Lemon

122
00:06:36,320 --> 00:06:39,480
Speaker 1: also raised its full year forecast. The company is expecting

123
00:06:39,480 --> 00:06:42,080
Speaker 1: sales to reach as much as seven point seven billion

124
00:06:42,160 --> 00:06:45,760
Speaker 1: in its fiscal year. Lulu Lemon has been accelerating deliveries

125
00:06:45,800 --> 00:06:49,239
Speaker 1: to get products to stores in time to meet robust demand.

126
00:06:49,600 --> 00:06:52,880
Speaker 1: Even so, the company says logistics problems that hurt performance

127
00:06:52,920 --> 00:06:56,839
Speaker 1: since the holiday season haven't yet fully been alleviated. In

128
00:06:56,880 --> 00:06:59,440
Speaker 1: New York, I'm Doug Prisner, Bloomberg Daybreak, All Right, Doug

129
00:06:59,440 --> 00:07:02,839
Speaker 1: FANKSS and P futures down fourteen points, staff futures down

130
00:07:02,880 --> 00:07:06,080
Speaker 1: seventy Nastac futures are lower by seventy eight points. The

131
00:07:06,160 --> 00:07:08,840
Speaker 1: tenure treasury is down four thirty seconds yield two point

132
00:07:08,920 --> 00:07:12,320
Speaker 1: nine nime x crewed down nine tenths per cent, or

133
00:07:12,320 --> 00:07:14,600
Speaker 1: a dollar nine at a hundred fifteen dollar seventy eight

134
00:07:14,640 --> 00:07:17,240
Speaker 1: cents of barrel. Straight ahead, your latest local headlines and

135
00:07:17,320 --> 00:07:23,800
Speaker 1: the check of sports. This is Bloomberg Sounds six o

136
00:07:23,920 --> 00:07:26,760
Speaker 1: seven on Wall Street work sixty three degrees in Central Park.

137
00:07:26,840 --> 00:07:29,440
Speaker 1: It's getting heavy on the George Washington Bridge after an

138
00:07:29,440 --> 00:07:31,680
Speaker 1: earlier accident on the outbound side. We'll get more on

139
00:07:31,760 --> 00:07:34,760
Speaker 1: traffic shortly. First, Michael Barr with more on what's going

140
00:07:34,760 --> 00:07:37,160
Speaker 1: on in New York and around the world. Michael, thank

141
00:07:37,160 --> 00:07:41,400
Speaker 1: you very much. Nathan. They're living in leaky and moldy units. Yesterday,

142
00:07:41,480 --> 00:07:44,440
Speaker 1: New York lawmakers have approved a new entity to help

143
00:07:44,480 --> 00:07:48,440
Speaker 1: finance much needed renovations at New York City's public housing developments.

144
00:07:48,800 --> 00:07:52,280
Speaker 1: The New York City Public Housing Preservation Trust will allow

145
00:07:52,440 --> 00:07:56,000
Speaker 1: the city Housing Authority to borrow money by pulling federal

146
00:07:56,120 --> 00:07:59,119
Speaker 1: housing voutiers. The money will be used to make urgent

147
00:07:59,160 --> 00:08:01,800
Speaker 1: repairs on his Many has a hundred thousand units on

148
00:08:01,960 --> 00:08:04,600
Speaker 1: top of mold and leaks. Many of them are plagued

149
00:08:04,640 --> 00:08:08,080
Speaker 1: by the lead paint and need critical upgrades to boilers

150
00:08:08,120 --> 00:08:12,080
Speaker 1: and elevators. Texas prison officials say a convicted murderer on

151
00:08:12,120 --> 00:08:14,800
Speaker 1: the run since escaping a prison bus on May twelfth

152
00:08:15,240 --> 00:08:18,200
Speaker 1: has been killed after he killed a family of five

153
00:08:18,240 --> 00:08:22,280
Speaker 1: and took their truck. Prison spokesman Jason Clark says Gonzalo

154
00:08:22,360 --> 00:08:25,680
Speaker 1: Lopez was shot dead by law enforcement south of San

155
00:08:25,720 --> 00:08:31,840
Speaker 1: Antonio late last night. Where we are very sadden that

156
00:08:31,960 --> 00:08:34,960
Speaker 1: the murders happen, but I will tell you that we

157
00:08:35,040 --> 00:08:38,120
Speaker 1: are breathing a sigh of relief that Lopez will not

158
00:08:38,160 --> 00:08:41,200
Speaker 1: be able to hurt anyone else. Prison spokesman Jason Clark

159
00:08:41,320 --> 00:08:44,520
Speaker 1: says the five killed in their residence included an adult

160
00:08:44,559 --> 00:08:48,880
Speaker 1: and four miners. After Lopez broke in. Authorities in Tulsa, Oklahoma,

161
00:08:48,920 --> 00:08:51,480
Speaker 1: say the suspect who killed four people inside a medical

162
00:08:51,520 --> 00:08:54,280
Speaker 1: building Wednesday was a patient to one of the victims.

163
00:08:54,640 --> 00:08:57,640
Speaker 1: The victims have been identified as Dr Preston Phillips, Doctor

164
00:08:57,760 --> 00:09:02,080
Speaker 1: Stephanie Houston, Amanda Green, then William Love. The suspect has

165
00:09:02,080 --> 00:09:05,040
Speaker 1: been identified as Michael Lewis tell Us. The police chief,

166
00:09:05,040 --> 00:09:09,720
Speaker 1: Wendell Franklin, said Dr Phillips performed back surgery on Lewis,

167
00:09:09,720 --> 00:09:13,240
Speaker 1: who was angry about lingering pain. Following the operation. We

168
00:09:13,320 --> 00:09:17,280
Speaker 1: have also found a letter on the suspect which made

169
00:09:17,280 --> 00:09:20,840
Speaker 1: it clear that he came in with the intent to

170
00:09:21,000 --> 00:09:24,600
Speaker 1: kill Dr Phillips and anyone who got in his way.

171
00:09:24,960 --> 00:09:27,400
Speaker 1: Chief Franklin says the shooter took his own life when

172
00:09:27,440 --> 00:09:32,000
Speaker 1: officers closed. In Britain continues to mark the Queen's platinum Jubilelee. Today,

173
00:09:32,040 --> 00:09:35,160
Speaker 1: a service of Thanksgiving takes place in St. Paul's Cathedral

174
00:09:35,240 --> 00:09:38,400
Speaker 1: for the Queen's his story seventy years of service. Harry

175
00:09:38,400 --> 00:09:40,880
Speaker 1: and Megan will be there. However, Prince Andrew will not.

176
00:09:41,040 --> 00:09:44,040
Speaker 1: He tested positive for COVID, and the Queen, who is

177
00:09:44,160 --> 00:09:47,079
Speaker 1: ninety six, decided to skip the trip because it will

178
00:09:47,160 --> 00:09:49,679
Speaker 1: just be too much for her. Global news twenty four

179
00:09:49,679 --> 00:09:52,040
Speaker 1: hours a day on air and on Bloombergy Quick Take,

180
00:09:52,080 --> 00:09:55,320
Speaker 1: powered by more than und journalists and analysts more than

181
00:09:55,360 --> 00:09:58,440
Speaker 1: a hundred twenty countries. At Michael bar this is Bloomberg.

182
00:09:58,559 --> 00:10:05,200
Speaker 1: Nathan all right, Michael, thank you almost six ten on

183
00:10:05,240 --> 00:10:07,920
Speaker 1: All Street time for the Bloomberg Sports Update with John Stes.

184
00:10:08,080 --> 00:10:10,640
Speaker 1: All right, they've been starting pitching has carried the Yankees

185
00:10:10,640 --> 00:10:12,760
Speaker 1: in this great start, and it was on display in

186
00:10:12,800 --> 00:10:14,400
Speaker 1: the Bronx in the double header with the Angels up

187
00:10:14,400 --> 00:10:17,600
Speaker 1: first was Nestor Cortez, arguably the best pitcher in the

188
00:10:17,640 --> 00:10:21,000
Speaker 1: Major so far. Seven more scoreless innings. Yanks had four

189
00:10:21,080 --> 00:10:23,679
Speaker 1: solo home runs, three came off show Otani. They won

190
00:10:23,760 --> 00:10:26,200
Speaker 1: six to one as Cortes lowered as z R eight

191
00:10:26,240 --> 00:10:27,960
Speaker 1: a one and a half. And then it was Jamison

192
00:10:28,000 --> 00:10:31,360
Speaker 1: Tyone's turn, coming off eight scoreless innings at Tampa Bay

193
00:10:31,360 --> 00:10:33,360
Speaker 1: where he allowed only two hits. Tyone win eight ins.

194
00:10:33,400 --> 00:10:36,080
Speaker 1: Again he had a perfect game going in the eight.

195
00:10:36,160 --> 00:10:38,600
Speaker 1: The Angels broke it up, broke up a scoreless game,

196
00:10:38,640 --> 00:10:40,720
Speaker 1: but the Yanks came through bottom the eighth, they too

197
00:10:40,760 --> 00:10:43,920
Speaker 1: out to run game winning pinch hit single for Anthony

198
00:10:44,000 --> 00:10:45,880
Speaker 1: rizz On. The Yanks one two to one to sweep

199
00:10:46,320 --> 00:10:49,280
Speaker 1: the twin Bill. Mets started their ten games Southern California

200
00:10:49,320 --> 00:10:51,880
Speaker 1: road trip. They had only three hits, lost the Dodgers

201
00:10:51,880 --> 00:10:53,839
Speaker 1: to nothing. That ends the Mets six game win Street

202
00:10:53,880 --> 00:10:55,800
Speaker 1: Game one of the NBA Finals. The South is tilled

203
00:10:55,800 --> 00:11:00,720
Speaker 1: by fifteen. They won with a big fourth quarter tat

204
00:11:01,000 --> 00:11:04,720
Speaker 1: over the shoulder past Marcus Smart left side three, good night.

205
00:11:05,960 --> 00:11:09,360
Speaker 1: What's gonna say about Marcus three? What they say? It's seven?

206
00:11:09,360 --> 00:11:11,440
Speaker 1: In Boston, the co host Celts won that fourth quarter

207
00:11:11,440 --> 00:11:14,960
Speaker 1: at forty to sixteen. That's the most lopsided fourth quarter

208
00:11:15,000 --> 00:11:18,679
Speaker 1: score in finals history. Boston be Golden's Day one one

209
00:11:18,679 --> 00:11:20,640
Speaker 1: oh a first team in finals history to come from

210
00:11:20,640 --> 00:11:23,679
Speaker 1: more than ten down and win by more than ten's down.

211
00:11:23,760 --> 00:11:26,800
Speaker 1: The Cup has Colorado shut out Edmonton for nothing to

212
00:11:26,960 --> 00:11:29,080
Speaker 1: nothing lead in the West. Rangers go for a two

213
00:11:29,120 --> 00:11:31,319
Speaker 1: nothing leading in the East. Tonight at the Garden. It's

214
00:11:31,360 --> 00:11:34,120
Speaker 1: Game two with Tampa Bay or Rafael the Dal versus

215
00:11:34,160 --> 00:11:37,720
Speaker 1: alex Arev. Today in Paris, French Open semifinals. Tomorrow's Women's

216
00:11:37,720 --> 00:11:41,480
Speaker 1: final IgA Swayattech versus the eighteen year old American Cocoa

217
00:11:41,520 --> 00:11:44,880
Speaker 1: Go John stash Were Bloomberg Sports, Nathan all Right, John

218
00:11:44,920 --> 00:11:48,160
Speaker 1: thanks SMP futures down down fourteen points down features down

219
00:11:48,160 --> 00:11:51,200
Speaker 1: seventy six sore nastack futures the ten your treasuries down

220
00:11:51,200 --> 00:11:54,880
Speaker 1: three thirty seconds, yield two point nine one percent and

221
00:11:54,960 --> 00:11:57,439
Speaker 1: to yield on the two year right now two point

222
00:11:57,559 --> 00:12:01,920
Speaker 1: six four percent coming up. Comments from Black Rock CEO

223
00:12:02,120 --> 00:12:08,840
Speaker 1: Larry Fink. This is Bloomberg Blomberg eleven three oh weather

224
00:12:08,880 --> 00:12:11,440
Speaker 1: turning partly to hostly sunny today after the fog burns off.

225
00:12:11,440 --> 00:12:13,880
Speaker 1: We'll get up to your seventy five degrees sunshine for

226
00:12:13,880 --> 00:12:17,920
Speaker 1: the weekend. Upper seventies tomorrow, low seventies on Sunday right

227
00:12:17,920 --> 00:12:23,680
Speaker 1: now sixty three in Central Park markets. Headlines and breaking

228
00:12:23,679 --> 00:12:26,600
Speaker 1: news twenty four hours a day at Bloomberg dot Com,

229
00:12:26,720 --> 00:12:29,760
Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape. This

230
00:12:30,200 --> 00:12:39,160
Speaker 1: is a Bloomberg Business flash and I'm Karen Moscow U

231
00:12:39,200 --> 00:12:42,720
Speaker 1: West Dock Index futures falling after report that Tesla chief

232
00:12:42,760 --> 00:12:45,480
Speaker 1: executive Elon Muss said the electric car maker needs to

233
00:12:45,520 --> 00:12:49,720
Speaker 1: cut staff amid a gloomy economic outlook. Investors also awaiting

234
00:12:49,760 --> 00:12:52,480
Speaker 1: the mape Hayrolls report at any thirty Wall Street time.

235
00:12:52,760 --> 00:12:54,960
Speaker 1: Hen we check the markets every fifteen minutes throughout the

236
00:12:54,960 --> 00:12:58,280
Speaker 1: training day on Bloomberg s and P futures down sixteen

237
00:12:58,280 --> 00:13:01,160
Speaker 1: points down, futures down eighty six, snaz DAG futures down

238
00:13:01,200 --> 00:13:03,439
Speaker 1: eighty eight and the decks in Germany is at a

239
00:13:03,520 --> 00:13:06,800
Speaker 1: quarter percent. Ten year treasury down three thirty seconds, yield

240
00:13:06,840 --> 00:13:08,959
Speaker 1: two point nine one percent. They yield on the two

241
00:13:09,040 --> 00:13:12,440
Speaker 1: year two point six four percent. Nine Max Screwede oil

242
00:13:12,600 --> 00:13:14,760
Speaker 1: is down night ten percent and down a dollar six

243
00:13:14,800 --> 00:13:17,160
Speaker 1: and a hundred fifteen dollars eighty one cents a barrel.

244
00:13:17,400 --> 00:13:19,920
Speaker 1: Comex Gold is down two tens percent or two dollars

245
00:13:19,960 --> 00:13:23,120
Speaker 1: eighty cents at eighteen sixty eight fifty announced the euro

246
00:13:23,240 --> 00:13:25,680
Speaker 1: one point oh seven four two against the dollar, British

247
00:13:25,679 --> 00:13:28,240
Speaker 1: pound one point to five seven zero, and a yen

248
00:13:28,360 --> 00:13:30,680
Speaker 1: one thirty point oh nine. And Big Coin is down

249
00:13:30,679 --> 00:13:33,000
Speaker 1: about a third of a percent at thirty thousand, one

250
00:13:33,080 --> 00:13:36,000
Speaker 1: hundred twenty dollars. That's a bloomberg business flash. Now here's

251
00:13:36,040 --> 00:13:38,440
Speaker 1: Michael Barr with more on what's going on around the world.

252
00:13:38,520 --> 00:13:41,320
Speaker 1: Michael Karen, thank you very much. President Joe Biden called

253
00:13:41,360 --> 00:13:44,280
Speaker 1: for a ban on the sales of assault weapons and

254
00:13:44,360 --> 00:13:49,240
Speaker 1: high capacity magazines. How many more innocent American lives must

255
00:13:49,240 --> 00:13:53,200
Speaker 1: be taken before we say enough enough? Meanwhile, the New

256
00:13:53,280 --> 00:13:56,480
Speaker 1: York Legislature approved raising the legal age to buy semi

257
00:13:56,520 --> 00:13:59,760
Speaker 1: automatic rifles from eighteen to twenty one. Game one of

258
00:13:59,840 --> 00:14:03,720
Speaker 1: the NBA Finals, the Celtics beat the Warriors. After Wednesday's

259
00:14:03,760 --> 00:14:06,880
Speaker 1: when the Rangers host Game two of the NHL East

260
00:14:06,960 --> 00:14:10,240
Speaker 1: Final tonight against the Lightning. In baseball, the Yankees won

261
00:14:10,280 --> 00:14:12,400
Speaker 1: a double head ever against the Angels. The Mets lost,

262
00:14:12,440 --> 00:14:16,320
Speaker 1: along with the Nationals, Orioles and Giants. Global News twenty

263
00:14:16,320 --> 00:14:19,160
Speaker 1: four hours a day on air and on Bloomberg Quicktake,

264
00:14:19,400 --> 00:14:22,480
Speaker 1: powered by more than twenty seven hundred journalists and analysts

265
00:14:22,520 --> 00:14:25,200
Speaker 1: in more than one hundred twenty countries. I'm Michael lar

266
00:14:25,400 --> 00:14:28,240
Speaker 1: and this is Bloomberg. Nathan. All right, Michael, thank you.

267
00:14:28,360 --> 00:14:31,160
Speaker 1: It's six nineteen on Wall Street Live from the Bloomberg

268
00:14:31,200 --> 00:14:34,120
Speaker 1: Interactive Broker Studios. This is Bloomberg day Break. We know

269
00:14:34,160 --> 00:14:36,400
Speaker 1: want to bring you an interview with black Rock Chief

270
00:14:36,440 --> 00:14:40,040
Speaker 1: executive officer Larry Fink. He sat down with our David

271
00:14:40,080 --> 00:14:43,640
Speaker 1: Weston on Bloomberg's Balance of Power and painted an uncertain

272
00:14:43,760 --> 00:14:46,680
Speaker 1: picture for the economy. Fate told David the only thing

273
00:14:46,720 --> 00:14:50,440
Speaker 1: he's sure about is the market will continue to be unpredictable.

274
00:14:50,720 --> 00:14:53,000
Speaker 1: The markets have had sort of a rocky road. Can

275
00:14:53,000 --> 00:14:55,920
Speaker 1: we say so far this year as you look forward,

276
00:14:56,280 --> 00:14:59,320
Speaker 1: is there any real prospect it? Can they can recoup

277
00:14:59,360 --> 00:15:02,920
Speaker 1: in the second half a year? Probably not, not totally.

278
00:15:03,600 --> 00:15:07,840
Speaker 1: Um Let's start off, the market has recalibrate itself. We

279
00:15:07,840 --> 00:15:10,360
Speaker 1: we witnessed now exchanging policies and the feder Reserve we

280
00:15:10,480 --> 00:15:14,720
Speaker 1: raised short rates we have, so we saw a recalibration

281
00:15:14,760 --> 00:15:18,640
Speaker 1: of growth stocks um that's principally of the majority of

282
00:15:18,680 --> 00:15:22,080
Speaker 1: the downfall. And yet and the index are masking some

283
00:15:22,160 --> 00:15:24,400
Speaker 1: of the problems because part of the index are energy

284
00:15:24,440 --> 00:15:26,720
Speaker 1: companies commodity companies that are up quite a bit. So

285
00:15:26,760 --> 00:15:29,360
Speaker 1: if you look at the you know, the volatility in

286
00:15:29,400 --> 00:15:31,760
Speaker 1: the market and the spread between winners and losers, it's

287
00:15:31,880 --> 00:15:34,480
Speaker 1: pretty broad this year. And so we've taken out a

288
00:15:34,520 --> 00:15:36,600
Speaker 1: lot of those gains that we saw during the COVID

289
00:15:36,720 --> 00:15:40,240
Speaker 1: years and during the two years where we were you know,

290
00:15:40,320 --> 00:15:43,760
Speaker 1: changing our lives and we were emphasizing different companies, and

291
00:15:43,800 --> 00:15:46,120
Speaker 1: now we're seeing the reverse impact of that. So that

292
00:15:46,240 --> 00:15:49,320
Speaker 1: was one of the foundations of it. But now there's

293
00:15:49,400 --> 00:15:55,120
Speaker 1: greater recognition that inflation is not transitory. It is probably

294
00:15:55,120 --> 00:15:57,720
Speaker 1: with us for a number of years, and at the

295
00:15:57,760 --> 00:16:00,160
Speaker 1: type of inflation that I don't believe that at a

296
00:16:00,240 --> 00:16:03,600
Speaker 1: reserve has the policy or the tools to do much

297
00:16:03,720 --> 00:16:06,440
Speaker 1: with it right now. And I'm personally not blaming the

298
00:16:06,480 --> 00:16:08,720
Speaker 1: Fed Reserved for where they where we are right now,

299
00:16:09,120 --> 00:16:11,680
Speaker 1: but I believe most of the problems we're living with

300
00:16:11,720 --> 00:16:15,240
Speaker 1: today are more policy generated and supply generated. It's been

301
00:16:15,280 --> 00:16:19,600
Speaker 1: aggravated now obviously by COVID and lockdowns in different parts

302
00:16:19,720 --> 00:16:22,160
Speaker 1: of the world where we are manufacturing goods. It has

303
00:16:22,200 --> 00:16:27,040
Speaker 1: been further aggravated about the Ukraine uh Russian War and

304
00:16:27,080 --> 00:16:30,080
Speaker 1: where we have supply shocked. But I have this fundamental

305
00:16:30,200 --> 00:16:32,720
Speaker 1: view that much of the inflation has been generated by

306
00:16:32,720 --> 00:16:37,000
Speaker 1: some very large policy policy shifts. In the United States.

307
00:16:37,560 --> 00:16:40,720
Speaker 1: We have Jamie Diamond talking about a hurricane. Potentially, are

308
00:16:40,760 --> 00:16:43,360
Speaker 1: you saying something that's significant? What's the chance of her session?

309
00:16:43,640 --> 00:16:46,400
Speaker 1: And not so much of this year, But in twenty

310
00:16:46,400 --> 00:16:49,360
Speaker 1: four I think Jamie said one outcome could be a hurricane.

311
00:16:49,600 --> 00:16:52,120
Speaker 1: It may not be that, So you know, you know,

312
00:16:52,160 --> 00:16:55,040
Speaker 1: I know that sounds so perfect for the media hurricane,

313
00:16:55,080 --> 00:16:59,360
Speaker 1: but uh, I don't. I could see scenarios where it

314
00:16:59,360 --> 00:17:04,440
Speaker 1: could be quite add another another downward draft of significance,

315
00:17:05,200 --> 00:17:07,960
Speaker 1: um uh, and that's going to be dependent on earnings

316
00:17:08,640 --> 00:17:14,639
Speaker 1: going forward. But I could also see a scenario where

317
00:17:15,640 --> 00:17:18,840
Speaker 1: we're gonna be muddling along for the next year or

318
00:17:18,880 --> 00:17:22,000
Speaker 1: two right around this level, and you know, maybe up

319
00:17:22,200 --> 00:17:24,480
Speaker 1: five p down ten percent. But we're gonna be in

320
00:17:24,520 --> 00:17:27,679
Speaker 1: this range bound area until we have better information. And

321
00:17:27,640 --> 00:17:30,040
Speaker 1: the one thing I will say with total certainty, we're

322
00:17:30,080 --> 00:17:33,159
Speaker 1: gonna be living with more uncertainty. And and so with

323
00:17:33,200 --> 00:17:35,600
Speaker 1: that in mind, we are going to have bouts of

324
00:17:35,680 --> 00:17:38,200
Speaker 1: fear which is going to bring down the markets and

325
00:17:38,200 --> 00:17:41,159
Speaker 1: and a little more confidence going on forward. But we

326
00:17:41,240 --> 00:17:45,120
Speaker 1: have not witnessed huge asset allocation changes by our investors.

327
00:17:45,200 --> 00:17:46,600
Speaker 1: I was gonna ask about that, what are you see

328
00:17:46,640 --> 00:17:48,720
Speaker 1: in your funds? For example, are people buying bonds ag

329
00:17:48,720 --> 00:17:50,480
Speaker 1: in for example, in your pow Oh my gosh. In

330
00:17:50,520 --> 00:17:53,240
Speaker 1: the month of May, we've had we had the biggest

331
00:17:53,280 --> 00:17:56,720
Speaker 1: increase in ETF bond purchases. Um. I mean, we had

332
00:17:56,720 --> 00:18:01,040
Speaker 1: thirty something billion dollars of inflows in bonds, whether it's

333
00:18:01,119 --> 00:18:03,560
Speaker 1: credit or all that. So you were certainly seeing a

334
00:18:03,640 --> 00:18:08,720
Speaker 1: revaluation of how far integrates need to go upward. Uh.

335
00:18:08,760 --> 00:18:11,959
Speaker 1: And so that's also one of the big trends. I mean,

336
00:18:12,080 --> 00:18:14,040
Speaker 1: you know, I'd say thirty days, so many people were

337
00:18:14,040 --> 00:18:18,080
Speaker 1: calling for a deep recession and now people are mitigating that. Obviously,

338
00:18:18,320 --> 00:18:20,760
Speaker 1: there are views that we could have a deeper session

339
00:18:20,880 --> 00:18:23,480
Speaker 1: or a hurricane, but that's just one of the outcomes.

340
00:18:23,520 --> 00:18:25,960
Speaker 1: I mean, I could. I think there's higher probabilities of

341
00:18:26,080 --> 00:18:29,120
Speaker 1: outcomes that we're going to be more range bounds with

342
00:18:29,160 --> 00:18:32,040
Speaker 1: a lot of fatility. Certainly, there's uncertain about exactly what

343
00:18:32,080 --> 00:18:34,000
Speaker 1: happens with the Fed. Maybe not so much on rate

344
00:18:34,040 --> 00:18:36,280
Speaker 1: increases as one are the consequences will be of the

345
00:18:36,359 --> 00:18:39,600
Speaker 1: quantity of tightening which actually started this week this week,

346
00:18:39,800 --> 00:18:42,080
Speaker 1: what are those consequences likely to be? In your judgment,

347
00:18:42,080 --> 00:18:45,840
Speaker 1: you better find new buyers. I think the market place

348
00:18:45,920 --> 00:18:49,040
Speaker 1: does not understand the dependency of low rates was on

349
00:18:49,400 --> 00:18:52,000
Speaker 1: the QUI purchases with the trillions of dollars at the

350
00:18:52,000 --> 00:18:55,920
Speaker 1: Federal Reserve. But let's let's be clear. Between Japan and China,

351
00:18:55,960 --> 00:18:57,800
Speaker 1: they own, you know, close to two and a half

352
00:18:57,800 --> 00:19:01,560
Speaker 1: trillion dollars of US traceries too, So there are big

353
00:19:01,600 --> 00:19:05,639
Speaker 1: owners and big players and and obviously what will be

354
00:19:05,680 --> 00:19:09,160
Speaker 1: the future clearing prices rates with less QUI and now

355
00:19:09,280 --> 00:19:11,560
Speaker 1: reversal it do we need to get up to a

356
00:19:11,640 --> 00:19:15,080
Speaker 1: three percent tenure to meet a lot more demand, and

357
00:19:15,200 --> 00:19:16,919
Speaker 1: so much of this is we're all gonna have to

358
00:19:16,920 --> 00:19:19,240
Speaker 1: see what is what are the cons And that was

359
00:19:19,240 --> 00:19:22,920
Speaker 1: Black Rock CEO Larry Fink speaking with Bloomberg David Weston.

360
00:19:23,040 --> 00:19:26,679
Speaker 1: You can catch their full conversation on our website Bloomberg

361
00:19:26,760 --> 00:19:29,880
Speaker 1: dot com. Right now, S ANDP futures are down thirteen

362
00:19:29,920 --> 00:19:33,120
Speaker 1: points down, futures down fifty nine, NASTAC futures lower by

363
00:19:33,160 --> 00:19:35,520
Speaker 1: seventy nine points as we await the release of the

364
00:19:35,600 --> 00:19:38,320
Speaker 1: May pay rolls report in just about two hours time.

365
00:19:38,800 --> 00:19:42,160
Speaker 1: Full coverage of that for you right here on Bloomberg Radio.

366
00:19:42,600 --> 00:19:44,920
Speaker 1: Tend your treasuries down to thirty seconds, the yield two

367
00:19:44,920 --> 00:19:46,840
Speaker 1: point nine one percent and the yield on the two

368
00:19:46,920 --> 00:19:49,840
Speaker 1: year two point six four percent. Nime X crew down

369
00:19:49,920 --> 00:19:53,840
Speaker 1: nine tenths percent, down ninety nine cents at fifty eight

370
00:19:53,840 --> 00:19:56,600
Speaker 1: cents of barrel, just to haad President Biden's plea for

371
00:19:56,640 --> 00:20:00,119
Speaker 1: action on guns and Elon Musk's super bad feel thing

372
00:20:00,160 --> 00:20:02,440
Speaker 1: about the economy. Five things you need to notice start

373
00:20:02,440 --> 00:20:08,440
Speaker 1: your day coming up on Bloomberg Daybreak. Bloomberg Daybreak is

374
00:20:08,440 --> 00:20:11,000
Speaker 1: brought to you by Hofstra University's Frank G's r School

375
00:20:11,000 --> 00:20:13,520
Speaker 1: of Business, top ranked online NBA program with a real

376
00:20:13,560 --> 00:20:16,560
Speaker 1: world foundation. Learn more at Hofstra dot e d U

377
00:20:16,840 --> 00:20:25,639
Speaker 1: slash go grad Broadcasting live from the Bloomberg Interactive broker

378
00:20:25,760 --> 00:20:29,160
Speaker 1: studio in New York, Bloomberg E Living Free on to Washington,

379
00:20:29,240 --> 00:20:33,320
Speaker 1: d C. Bloomberg to Boston, Bloomberg one O six one

380
00:20:33,440 --> 00:20:36,880
Speaker 1: to San Francisco, Bloomberg during sixteen to the country, Sirius

381
00:20:37,040 --> 00:20:39,479
Speaker 1: XM to the one nine team, and around the globe

382
00:20:39,560 --> 00:20:43,200
Speaker 1: the Bloomberg Business app and Bloomberg Radio dot com. This

383
00:20:43,480 --> 00:20:51,960
Speaker 1: is Bloomberg Daybreak. It's six thirty on Wall Street. Good morning.

384
00:20:52,040 --> 00:20:54,879
Speaker 1: I'm Nathan Hager and I'm Karen Moscow. We are just

385
00:20:54,960 --> 00:20:57,760
Speaker 1: about three hours away from the open of US trading.

386
00:20:57,800 --> 00:20:59,920
Speaker 1: Time for the five things you need to notice r

387
00:21:00,080 --> 00:21:02,320
Speaker 1: your day brought to you by I b k R

388
00:21:02,720 --> 00:21:06,360
Speaker 1: Investment Advisers switched to Interactive Brokers for lowest cost global

389
00:21:06,400 --> 00:21:09,840
Speaker 1: trading and turnkey custody solutions, no ticket charges and no

390
00:21:09,920 --> 00:21:13,000
Speaker 1: conflicts of your interests at IBKR dot com slash r

391
00:21:13,080 --> 00:21:17,080
Speaker 1: i A first President Biden addressed the nation last night

392
00:21:17,119 --> 00:21:19,840
Speaker 1: with a plea to curb gun violence after a wave

393
00:21:19,920 --> 00:21:23,359
Speaker 1: of deadly mass shootings across the country. Bloomberg said, Baxter

394
00:21:23,520 --> 00:21:28,440
Speaker 1: has the details. Biden says enough and urges congressional action. Now.

395
00:21:28,680 --> 00:21:31,600
Speaker 1: If we can't ban assault weapons and we should raise

396
00:21:31,680 --> 00:21:35,719
Speaker 1: the age to purchase them from eighteen to one, strength

397
00:21:35,760 --> 00:21:39,880
Speaker 1: and background checks, enact safe storage law and red flag laws.

398
00:21:40,640 --> 00:21:45,000
Speaker 1: Repeal the immunity to protect gun manufactures and liability, address

399
00:21:45,040 --> 00:21:48,080
Speaker 1: the mental health crisis. Biden says Second Amendment of Rights

400
00:21:48,119 --> 00:21:50,280
Speaker 1: will not be violated and says he doesn't want to

401
00:21:50,320 --> 00:21:53,639
Speaker 1: take away people's guns. In San Francisco, I'm at Baxter

402
00:21:53,680 --> 00:21:56,880
Speaker 1: Bloomberg daybreak, All right, and thank you. As President Biden spoke,

403
00:21:56,960 --> 00:21:59,120
Speaker 1: the House Judiciary Committee approved to bild that would raise

404
00:21:59,160 --> 00:22:01,879
Speaker 1: the minimum age to purchase semi automatic rifles and banned

405
00:22:01,920 --> 00:22:05,080
Speaker 1: high capacity magazines. That bill is not likely to pass

406
00:22:05,160 --> 00:22:08,640
Speaker 1: in the Senate. Meantime, In New York, Nathan lawmakers raised

407
00:22:08,680 --> 00:22:11,560
Speaker 1: the legal age to buy semi automatic rifles to one

408
00:22:11,640 --> 00:22:14,959
Speaker 1: from eighteen. It also passed legislation tightening rules to purchase

409
00:22:15,040 --> 00:22:18,360
Speaker 1: firearms and other military equipment. The neighboring New Jersey careen

410
00:22:18,400 --> 00:22:21,680
Speaker 1: Governor Phil Murphy's optimistic his stable and acts stronger gun laws,

411
00:22:21,720 --> 00:22:24,200
Speaker 1: but he says New Jersey can't do it alone. We're

412
00:22:24,200 --> 00:22:26,600
Speaker 1: not an island. Year eighty five or so of the

413
00:22:26,640 --> 00:22:29,280
Speaker 1: crime guns that are recovered in New Jersey from honest state,

414
00:22:29,480 --> 00:22:32,240
Speaker 1: So we need Congress to act. New Jersey Governor Phil

415
00:22:32,320 --> 00:22:34,800
Speaker 1: Murphy was a guest on Bloomberg's Balance of Power, airing

416
00:22:34,800 --> 00:22:37,800
Speaker 1: at noon Eastern on Bloomberg Radio and Television, and in

417
00:22:37,840 --> 00:22:41,000
Speaker 1: the entrance of transparency, we should note that Michael Bloomberg,

418
00:22:41,080 --> 00:22:43,640
Speaker 1: the founder and majority owner of Bloomberg Alp, the parent

419
00:22:43,720 --> 00:22:46,120
Speaker 1: of Bloomberg Radio, as a donor to groups that support

420
00:22:46,160 --> 00:22:48,560
Speaker 1: gun control. Later this morning, Karen we get the May

421
00:22:48,680 --> 00:22:52,320
Speaker 1: jobs report. Economists survey predict three twenty thousand non farm

422
00:22:52,320 --> 00:22:55,760
Speaker 1: payrolls are created last month, and corporate news Nathan Tesla,

423
00:22:55,840 --> 00:22:59,360
Speaker 1: CEO Elon musk Is reportedly told executives the electric carmaker

424
00:22:59,440 --> 00:23:02,680
Speaker 1: needs to cut staff by about ten percent. Ruders reports

425
00:23:02,760 --> 00:23:06,639
Speaker 1: must send an email titled pause all hiring worldwide. On

426
00:23:06,680 --> 00:23:09,480
Speaker 1: the flip side, Karen Walmart is adding employees. The retailer

427
00:23:09,520 --> 00:23:12,080
Speaker 1: will built four new e commerce warehouses and a push

428
00:23:12,119 --> 00:23:14,280
Speaker 1: to speed deliveries. The move will create more than four

429
00:23:14,320 --> 00:23:16,720
Speaker 1: thousand jobs. And that's the five things you need to

430
00:23:16,760 --> 00:23:20,000
Speaker 1: notice start your day. Brought to you by Interactive Brokers

431
00:23:20,400 --> 00:23:23,120
Speaker 1: SNP futures are down about thirteen points this morning. Down

432
00:23:23,160 --> 00:23:27,200
Speaker 1: futures down fifty seven nowsday futures down ten year, treasury

433
00:23:27,200 --> 00:23:29,800
Speaker 1: down three thirties seconds held two point nine one percent,

434
00:23:30,160 --> 00:23:33,080
Speaker 1: straight ahead, your latest local headlines, plus a check of sports,

435
00:23:33,119 --> 00:23:39,320
Speaker 1: and this is Bloomberg all right, Karen, Thank you. Is

436
00:23:39,359 --> 00:23:41,760
Speaker 1: six thirty three on wall Street board sixty three degrees

437
00:23:41,880 --> 00:23:46,040
Speaker 1: in Central Park watching volume build on the Hudson River crossings.

438
00:23:46,040 --> 00:23:48,880
Speaker 1: Will get the details in traffic shortly. Michael bars here

439
00:23:48,920 --> 00:23:50,760
Speaker 1: first with more on what's going on in New York

440
00:23:50,800 --> 00:23:53,040
Speaker 1: and around the world. Once again, Good morning, Michael, Good

441
00:23:53,040 --> 00:23:55,840
Speaker 1: morning Nathan. About a hundred thousand New York public housing

442
00:23:55,960 --> 00:23:59,480
Speaker 1: units are full of mold, leaks, lead paint, broken boilers,

443
00:23:59,520 --> 00:24:03,000
Speaker 1: and bus that elevators. Yesterday, New York lawmakers have proved

444
00:24:03,040 --> 00:24:05,640
Speaker 1: a new entity to do something about it and finance

445
00:24:05,760 --> 00:24:09,560
Speaker 1: much needed renovations. The New York City Public Housing Preservation

446
00:24:09,640 --> 00:24:13,120
Speaker 1: Trust will allow the housing authority to borrow money by

447
00:24:13,200 --> 00:24:17,240
Speaker 1: pooling federal housing vouchers. Authorities in Telsa, Oklahoma, say the

448
00:24:17,280 --> 00:24:20,440
Speaker 1: suspect who killed four people inside a medical building Wednesday

449
00:24:20,760 --> 00:24:23,679
Speaker 1: was a patient to one of the victims. Tulsa Police

450
00:24:23,760 --> 00:24:27,280
Speaker 1: Chief doctor Wendell Franklin, says one of the victims, doctor

451
00:24:27,320 --> 00:24:31,479
Speaker 1: Preston Phillips performed back surgery on the suspect. He blamed

452
00:24:31,560 --> 00:24:36,920
Speaker 1: Dr Phillips for the ongoing pain falling. The surgery Chief

453
00:24:36,960 --> 00:24:40,439
Speaker 1: Franklin says the suspect has been identified as Michael Lewis.

454
00:24:40,760 --> 00:24:43,800
Speaker 1: Authorities in Texas say a convicted murderer who escaped from

455
00:24:43,800 --> 00:24:46,720
Speaker 1: a prison buzz last month was shot dead by police

456
00:24:46,840 --> 00:24:50,440
Speaker 1: last night after being accused of killing five people. Officials

457
00:24:50,440 --> 00:24:53,560
Speaker 1: say Ganzana Lopez is believed to have killed an adult

458
00:24:53,960 --> 00:24:57,280
Speaker 1: and four miners after breaking into a Leon County residence.

459
00:24:57,800 --> 00:25:01,320
Speaker 1: At Ascosa County Sheriff David sour It says law enforcements

460
00:25:01,320 --> 00:25:04,399
Speaker 1: spotted the pickup truck Lopez is believed to have stolen

461
00:25:04,440 --> 00:25:07,639
Speaker 1: from the residents after a brief chase. Lopez accident the

462
00:25:07,640 --> 00:25:10,520
Speaker 1: truck and was killed in the shootout with officers. He

463
00:25:10,600 --> 00:25:15,320
Speaker 1: was in prison for murder, so he's serving a last

464
00:25:15,320 --> 00:25:18,680
Speaker 1: sentence already, so you know, he didn't want to go

465
00:25:18,720 --> 00:25:20,840
Speaker 1: back to prison obviously, and we knew what kind of

466
00:25:21,480 --> 00:25:23,480
Speaker 1: person he was and what kind of action he probably

467
00:25:23,520 --> 00:25:27,000
Speaker 1: was going to take. Sheriff Soward says no officers were injured.

468
00:25:27,280 --> 00:25:30,680
Speaker 1: The UK Defense Ministry says Russian force his a game momentum.

469
00:25:30,720 --> 00:25:34,200
Speaker 1: One hundred days into the invasion into Ukraine, Moscow is

470
00:25:34,240 --> 00:25:39,240
Speaker 1: pushing to capture the Donbas region. Mary Upel Mayor vanum Boychenko,

471
00:25:39,440 --> 00:25:43,320
Speaker 1: for the first time in person, is addressing the humanitarian

472
00:25:43,440 --> 00:25:46,760
Speaker 1: situation in the Ukrainian city that is now occupied by

473
00:25:46,840 --> 00:25:51,320
Speaker 1: Russian forces. The locals didn't even have their opportunity to

474
00:25:51,640 --> 00:25:55,200
Speaker 1: bury those people in the civilized ways, so they were

475
00:25:55,440 --> 00:26:02,000
Speaker 1: burying them in the yards in the parks nearby. Mayor Portchenko,

476
00:26:02,400 --> 00:26:05,960
Speaker 1: through a translator, spoke at a news conference today. Britain

477
00:26:06,000 --> 00:26:08,800
Speaker 1: continues to celebrate the Queen's jubilee for seventy years on

478
00:26:08,840 --> 00:26:12,200
Speaker 1: the throne. Today a service of Thanksgiving takes place in St.

479
00:26:12,200 --> 00:26:15,560
Speaker 1: Paul's Cathedral. However, the Queen will skip the event. Global

480
00:26:15,600 --> 00:26:17,399
Speaker 1: Games twenty four hours a day on air and on

481
00:26:17,480 --> 00:26:19,840
Speaker 1: Bloomberg Quick Take, powered by more than twenty seven hundred

482
00:26:19,880 --> 00:26:22,080
Speaker 1: journalists and analysts more than a hundred twenty countries. I'm

483
00:26:22,080 --> 00:26:29,680
Speaker 1: Michael bar This is Bloomberg. Nathan, Thanks Michael. Almost six

484
00:26:29,680 --> 00:26:31,760
Speaker 1: thirty six On Wall Street, John stash Are has the

485
00:26:31,800 --> 00:26:34,640
Speaker 1: Bloomberg Sports ing. All Right, Nathan Big comeback to start

486
00:26:34,680 --> 00:26:38,240
Speaker 1: the NBA Finals. Golden State led Boston by fifteen points.

487
00:26:38,240 --> 00:26:41,919
Speaker 1: Celtics then won the fourth quarter forty to sixteen, and

488
00:26:41,960 --> 00:26:44,320
Speaker 1: they stole Game one from the Warriors one twenty one

489
00:26:44,320 --> 00:26:46,160
Speaker 1: o eight. Celtics made more than half of their three

490
00:26:46,200 --> 00:26:49,399
Speaker 1: winder Steph Curry drained six threes in the first quarter,

491
00:26:49,440 --> 00:26:52,160
Speaker 1: but had only one after that. Seley Cup Whos Colorado,

492
00:26:52,200 --> 00:26:54,920
Speaker 1: who won Game one eight to six, took Game two

493
00:26:54,960 --> 00:26:57,359
Speaker 1: from Edmonton four nothing in the Aslee the West Finals

494
00:26:57,400 --> 00:27:00,200
Speaker 1: to nothing Rangers in lightning Game two in the East

495
00:27:00,240 --> 00:27:02,480
Speaker 1: tonight at the Garden, with the Rangers have won seven

496
00:27:02,600 --> 00:27:04,760
Speaker 1: arrow of the Blue Shirts have won their last three

497
00:27:04,800 --> 00:27:09,040
Speaker 1: overall by a combined seventeen to six. At the Stadium doubleheader,

498
00:27:09,080 --> 00:27:12,119
Speaker 1: Swave Yankees, who teed off on show Heyo Tani in

499
00:27:12,119 --> 00:27:14,160
Speaker 1: a game a year ago in the Bronx, hit three

500
00:27:14,200 --> 00:27:17,119
Speaker 1: solo home runs off him, including Aaron Judge's nineteen to

501
00:27:17,119 --> 00:27:20,399
Speaker 1: the year, and with Nestor Cortez dominant again, Yanks won

502
00:27:20,440 --> 00:27:22,719
Speaker 1: the opener over the Angel six to one. The nightcap

503
00:27:22,760 --> 00:27:26,479
Speaker 1: saw Jamison tyonn flirt with a perfect game. He lost

504
00:27:26,520 --> 00:27:28,720
Speaker 1: it and lost the lead in the eighth inning of

505
00:27:28,760 --> 00:27:31,159
Speaker 1: the Yanks one two to one thanks to a Anthony

506
00:27:31,280 --> 00:27:34,280
Speaker 1: Rizzo two out, two run, pinch hit single in the

507
00:27:34,359 --> 00:27:36,399
Speaker 1: eight Mets had only three hits. Lost the start of

508
00:27:36,440 --> 00:27:39,320
Speaker 1: their so Cal road trip to the Dodgers, too nothing.

509
00:27:39,359 --> 00:27:41,880
Speaker 1: Tony Gonsolin, now six and over l a. He beat

510
00:27:41,920 --> 00:27:45,480
Speaker 1: Taiwan Walker, who suffered his coach lost. Ryan Fitzpatrick, who

511
00:27:45,480 --> 00:27:47,760
Speaker 1: came out of Harvard the quarterback in the NFL for

512
00:27:48,240 --> 00:27:51,960
Speaker 1: seventeen seasons for nine different teams, including a stint with

513
00:27:51,960 --> 00:27:54,800
Speaker 1: the Jets, finally retiring from the age of thirty nine.

514
00:27:55,080 --> 00:27:58,200
Speaker 1: Tomorrow's women's final the French Open will be Eagles Swyatzek

515
00:27:58,400 --> 00:28:00,879
Speaker 1: riding a thirty four match winning brig against the eighteen

516
00:28:00,960 --> 00:28:02,919
Speaker 1: year old American Coco Golf. They both won of their

517
00:28:02,920 --> 00:28:07,359
Speaker 1: semifinal matches easily. Men's semis today, coming up, it's Rafteryana

518
00:28:07,400 --> 00:28:12,240
Speaker 1: dal versus Alex Bettervan Dasher Bloomberg's Okay, John Thanks at

519
00:28:12,240 --> 00:28:14,360
Speaker 1: six thirty seven on Wall Street Time now to take

520
00:28:14,359 --> 00:28:16,119
Speaker 1: a look at stock some of the names moving in

521
00:28:16,160 --> 00:28:18,399
Speaker 1: the pre market. For that, we are joined live this

522
00:28:18,440 --> 00:28:22,959
Speaker 1: morning by Bloomberg television anchor and markets correspondent Danny Burger. Danny,

523
00:28:23,000 --> 00:28:26,720
Speaker 1: We're watching the broader market move lower on this Friday morning.

524
00:28:26,800 --> 00:28:29,840
Speaker 1: Is it's safe to say Tesla's a big reason why.

525
00:28:31,000 --> 00:28:33,200
Speaker 1: I mean, certainly especially when it comes to the NAZAC

526
00:28:33,280 --> 00:28:36,360
Speaker 1: one hundred um. Yeah, I mean it looks a Tesla

527
00:28:36,440 --> 00:28:39,160
Speaker 1: has grabbed a lot of headlines recently, but this one,

528
00:28:39,600 --> 00:28:42,440
Speaker 1: I'm cutting staff by ten percent. That would be almost

529
00:28:42,440 --> 00:28:47,760
Speaker 1: about ten thousand jobs considering we have about in staff.

530
00:28:48,440 --> 00:28:51,200
Speaker 1: Um and Elon Musk this is uh, this all of

531
00:28:51,280 --> 00:28:54,480
Speaker 1: course according to an email um seen by Reuters, but

532
00:28:54,720 --> 00:28:57,720
Speaker 1: Elon Musk in it apparently said he had a quote

533
00:28:57,720 --> 00:29:01,120
Speaker 1: super bad feeling, which you know, very academic, but probably

534
00:29:01,120 --> 00:29:04,080
Speaker 1: a lot of economists would probably say they also have

535
00:29:04,120 --> 00:29:06,960
Speaker 1: a super bad feeling. Um. And so yeah, shares are

536
00:29:06,960 --> 00:29:11,400
Speaker 1: down some three point nine percent this morning. If Elon

537
00:29:11,480 --> 00:29:14,240
Speaker 1: Musk is a little bit pessimistic pulling back on jobs

538
00:29:14,280 --> 00:29:15,959
Speaker 1: because of it could be a bad find for Tesla.

539
00:29:16,200 --> 00:29:19,080
Speaker 1: And obviously Tesla is a big weight in the indexes.

540
00:29:19,520 --> 00:29:23,080
Speaker 1: But looking at the brighter market, Danny, we've got some

541
00:29:23,120 --> 00:29:27,960
Speaker 1: earnings as well, some positive signs there from Lulu Lemon Athletica. Yeah,

542
00:29:28,000 --> 00:29:30,360
Speaker 1: and this one's interesting because it is just one of

543
00:29:30,400 --> 00:29:33,840
Speaker 1: these persistent COVID trends, a lot of them have reversed

544
00:29:33,880 --> 00:29:36,720
Speaker 1: if you think about, you know, some of the food deliveries,

545
00:29:36,720 --> 00:29:39,280
Speaker 1: some of the other tech names. But Lulu Lemon seems

546
00:29:39,280 --> 00:29:41,680
Speaker 1: to be able to continue to capture on this change

547
00:29:41,760 --> 00:29:45,000
Speaker 1: to um not wanting to wear you know, suits and

548
00:29:45,120 --> 00:29:47,240
Speaker 1: dresses and heels. And I say that as I'm currently

549
00:29:47,280 --> 00:29:49,800
Speaker 1: sitting in my desk wearing a dress heels. However, if

550
00:29:49,800 --> 00:29:52,200
Speaker 1: I could have, probably would be wearing athleisure. So Lulu

551
00:29:52,320 --> 00:29:55,640
Speaker 1: Lemon able um to not just get that demand, but

552
00:29:55,640 --> 00:29:58,120
Speaker 1: they're also able to speed up deliveries to get the

553
00:29:58,200 --> 00:30:01,640
Speaker 1: products and stores to hatch up with that robust demand.

554
00:30:01,960 --> 00:30:05,160
Speaker 1: So those shares moving higher this morning by about one

555
00:30:05,200 --> 00:30:07,280
Speaker 1: point three percent. But I should also say, you know,

556
00:30:07,320 --> 00:30:11,160
Speaker 1: still dealing with logistical problems that many companies are, the

557
00:30:11,200 --> 00:30:15,680
Speaker 1: CFO talking about supply chain inflationary pressures. Their gross margin

558
00:30:15,880 --> 00:30:18,760
Speaker 1: therefore was a little bit lower than expectations, but you know,

559
00:30:18,840 --> 00:30:21,040
Speaker 1: that's certainly not enough to take the shine off the earnings.

560
00:30:21,320 --> 00:30:23,280
Speaker 1: There's thirty seconds left here, Danny. Well, we got some

561
00:30:23,320 --> 00:30:26,080
Speaker 1: deal news as well. What's going on with coals exactly?

562
00:30:26,160 --> 00:30:29,440
Speaker 1: Coles is a Wall Street Journal story reporting that they

563
00:30:29,480 --> 00:30:33,240
Speaker 1: received takeover bids from the PE firm Sycamore uh and

564
00:30:33,520 --> 00:30:37,840
Speaker 1: the retail holding company Franchise Group. They're sending people familiar here.

565
00:30:37,920 --> 00:30:41,160
Speaker 1: This would value Cold either in the mid fifty dollars

566
00:30:41,200 --> 00:30:44,360
Speaker 1: a share or around sixty dollars a share. They're not

567
00:30:44,440 --> 00:30:46,880
Speaker 1: quite up there yet, but pre markets trading higher by

568
00:30:46,920 --> 00:30:51,000
Speaker 1: about seven point six percent. All right, Bloomberg Television anchor

569
00:30:51,120 --> 00:30:54,400
Speaker 1: Markets corresponded Danny Burger with us this morning to take

570
00:30:54,400 --> 00:30:57,000
Speaker 1: a look at the stocks on the move in the

571
00:30:57,000 --> 00:30:59,000
Speaker 1: pre market, and as we take a look at stocks

572
00:30:59,040 --> 00:31:01,080
Speaker 1: as a whole ahead of the day morning open and

573
00:31:01,440 --> 00:31:04,760
Speaker 1: May jobs. The indexes are moving lower. We have SMP

574
00:31:04,880 --> 00:31:07,960
Speaker 1: futures down eighteen points, Staff futures down eighty three, Nasdaq

575
00:31:08,040 --> 00:31:11,400
Speaker 1: futures leading the clines this morning, down a hundred one points,

576
00:31:11,480 --> 00:31:14,240
Speaker 1: or about eight tenths of one percent. Ten Your Treasury

577
00:31:14,240 --> 00:31:18,680
Speaker 1: down to thirty seconds yield two point nine. This is

578
00:31:18,720 --> 00:31:24,440
Speaker 1: Bloomberg Bloomberg eleven three oh. Weather. It will turn probably

579
00:31:24,560 --> 00:31:27,280
Speaker 1: mostly sunny today with a high yr seventy five degrees,

580
00:31:27,360 --> 00:31:32,400
Speaker 1: sunshine for the weekend upper seventies tomorrow, low seventies on Sunday.

581
00:31:32,520 --> 00:31:38,600
Speaker 1: Right now sixty three in Central Park. Markets, headlines and

582
00:31:38,720 --> 00:31:41,960
Speaker 1: breaking news twenty four hours a day at Bloomberg dot com,

583
00:31:42,040 --> 00:31:45,640
Speaker 1: Bloomberg Business Out and at Bloomberg Quick Tape. This is

584
00:31:45,680 --> 00:31:54,960
Speaker 1: a Bloomberg Business blash and I'm Karen Moscow future is

585
00:31:55,040 --> 00:31:57,280
Speaker 1: lower this morning. Let's go to the first word breaking

586
00:31:57,320 --> 00:31:59,920
Speaker 1: news dash for today's morning call, and here spill maloney,

587
00:32:00,160 --> 00:32:03,600
Speaker 1: Good morning and good morning, Karen. That's right. US hugues

588
00:32:03,640 --> 00:32:06,000
Speaker 1: are in the red after yesterday's search, with DEAT futures

589
00:32:06,040 --> 00:32:08,600
Speaker 1: down nine points has to be dropped twenty one one.

590
00:32:08,680 --> 00:32:12,440
Speaker 1: Nasadack futures are off by a hundred and fifteen US

591
00:32:12,520 --> 00:32:15,720
Speaker 1: A tenure yield at two point nine, Gold is down four,

592
00:32:15,800 --> 00:32:18,360
Speaker 1: Oil is in the red and bitcoin is training lower

593
00:32:18,400 --> 00:32:21,880
Speaker 1: by one percent. Japan rose one point three percent overnight,

594
00:32:21,880 --> 00:32:24,480
Speaker 1: while europ and markets are trading mixed this morning and

595
00:32:24,600 --> 00:32:26,920
Speaker 1: back in the US on the economic Frinday thirty non

596
00:32:27,000 --> 00:32:31,000
Speaker 1: farm payils and at Services and Composite p m I s.

597
00:32:31,400 --> 00:32:34,280
Speaker 1: After the LS night, r H warned up softer demand,

598
00:32:34,640 --> 00:32:37,960
Speaker 1: Lula Lemon guidance beat estimates, and in other news, Reuters

599
00:32:38,000 --> 00:32:41,480
Speaker 1: reported at Tesla has paused hiring and needs to cut

600
00:32:41,520 --> 00:32:44,400
Speaker 1: staff by ten percent. In deal news, The Wall Street

601
00:32:44,440 --> 00:32:47,640
Speaker 1: German reported last night that Coles received takeover bids from

602
00:32:47,680 --> 00:32:51,720
Speaker 1: Sycamore Partners and Franchise Group. Wrapping things up, Moody's was

603
00:32:51,760 --> 00:32:54,680
Speaker 1: cut the equat to Barkley's. Martin Mary Everett raised overweight

604
00:32:54,680 --> 00:32:58,600
Speaker 1: at JP Morgan and Snowflake was rated a new outperform

605
00:32:58,600 --> 00:33:01,800
Speaker 1: over at Raymond James Live from the First Breaking News

606
00:33:01,800 --> 00:33:04,240
Speaker 1: Desk on Bill Maloney, care right, Bill, thank you, and

607
00:33:04,320 --> 00:33:06,880
Speaker 1: you're like breaking news over her Bloomberg type squawk on

608
00:33:06,920 --> 00:33:09,320
Speaker 1: your terminal scue you a w K and that's a

609
00:33:09,360 --> 00:33:12,160
Speaker 1: Bloomberg business flash. Now here's Michael bar with more on

610
00:33:12,240 --> 00:33:14,680
Speaker 1: what's going on around the world. Michael Karen, thank you

611
00:33:14,800 --> 00:33:17,600
Speaker 1: very much. President Biden, in a primetime address, renewed his

612
00:33:17,720 --> 00:33:20,360
Speaker 1: call for action to stop gun violence in the US.

613
00:33:20,760 --> 00:33:24,520
Speaker 1: Biden called for a ban on the sales of assault weapons.

614
00:33:24,720 --> 00:33:28,480
Speaker 1: The UK Defense Ministry says Russian forces have gained momentum

615
00:33:28,520 --> 00:33:31,800
Speaker 1: one hundred days into the invasion into Ukraine. Moscow is

616
00:33:31,800 --> 00:33:34,720
Speaker 1: pushing to capture the Dunbas region. In Game one of

617
00:33:34,760 --> 00:33:38,520
Speaker 1: the NBA Finals, the Celtics beat the Warriors. After Wednesday's

618
00:33:38,560 --> 00:33:42,000
Speaker 1: when the Rangers host Game two of the NHL East

619
00:33:42,040 --> 00:33:45,280
Speaker 1: Final tonight against the lightning. In baseball, the Yankees won

620
00:33:45,320 --> 00:33:48,200
Speaker 1: a double header against the Angels. The Mets lost along

621
00:33:48,200 --> 00:33:51,760
Speaker 1: with the Nationals, Orioles and Giants. Global News twenty four

622
00:33:51,800 --> 00:33:55,240
Speaker 1: hours a day on air and on Bloomberg Quicktake power

623
00:33:55,280 --> 00:33:57,960
Speaker 1: by more than seven hundred journalists and analysts more than

624
00:33:58,000 --> 00:34:01,560
Speaker 1: a hundred twenty countries. Him Michael are in. This is Bloomberg,

625
00:34:01,640 --> 00:34:04,720
Speaker 1: Karen Michael, thank you. At A sixty nine on Wall Street,

626
00:34:04,720 --> 00:34:06,960
Speaker 1: we turned to news and science and technology now with

627
00:34:07,040 --> 00:34:10,040
Speaker 1: a Bloomberg j I T STEMM Report. It is brought

628
00:34:10,080 --> 00:34:12,680
Speaker 1: to you by New Jersey Institute of Technology, one of

629
00:34:12,680 --> 00:34:16,760
Speaker 1: the nation's leading polytechnic universities in a top military friendly school.

630
00:34:17,080 --> 00:34:18,759
Speaker 1: Learn more at n j I T DOT E d

631
00:34:18,920 --> 00:34:21,359
Speaker 1: U slash of veterans. You know here's just making news

632
00:34:21,360 --> 00:34:24,680
Speaker 1: in science, technology, engineering, and math. Apple is said to

633
00:34:24,719 --> 00:34:27,200
Speaker 1: have agreed to make work schedules more flexible at its

634
00:34:27,200 --> 00:34:30,880
Speaker 1: retail stores. According to Bloomberg sources, the company has informed

635
00:34:30,880 --> 00:34:33,840
Speaker 1: staff at some stores that scheduling changes will take effect

636
00:34:33,880 --> 00:34:35,960
Speaker 1: in the coming months. We're told it's part of a

637
00:34:36,000 --> 00:34:39,240
Speaker 1: push to appease employees in the face of unionization efforts.

638
00:34:39,480 --> 00:34:43,680
Speaker 1: After some retail workers voiced frustrations about their schedules. Tesla

639
00:34:43,800 --> 00:34:47,279
Speaker 1: CEO Elon must says the company may have a functioning

640
00:34:47,520 --> 00:34:51,600
Speaker 1: humanoid robot up and running within months, and a tweet

641
00:34:51,680 --> 00:34:54,719
Speaker 1: Must said the electric car makers second a I Day

642
00:34:54,800 --> 00:34:57,480
Speaker 1: has been pushed back to September thirty for that reason.

643
00:34:57,840 --> 00:35:00,520
Speaker 1: Musk has said Tesla's robots could one a need more

644
00:35:00,600 --> 00:35:04,279
Speaker 1: significant than its vehicle business. And Amazon will shut its

645
00:35:04,360 --> 00:35:07,280
Speaker 1: Chinese e bookstore next year, pulling a small but prominent

646
00:35:07,320 --> 00:35:10,040
Speaker 1: business from a market where it's failed to make major

647
00:35:10,200 --> 00:35:14,080
Speaker 1: in roads against local rivals. Amazon's Kindle pull out coincides

648
00:35:14,160 --> 00:35:16,920
Speaker 1: with growing regulatory pressures on both the local and foreign

649
00:35:16,920 --> 00:35:20,960
Speaker 1: companies that operate in China, including censorship and content curbs.

650
00:35:21,160 --> 00:35:23,600
Speaker 1: The company said the withdrawal was not due to government

651
00:35:23,600 --> 00:35:27,120
Speaker 1: pressure or censorship, and as part of a periodic reevaluation

652
00:35:27,280 --> 00:35:29,920
Speaker 1: of its offerings around the world. And that's the Bloomberg

653
00:35:29,920 --> 00:35:32,960
Speaker 1: and j I t Stem Report. Nathan Okay, Karen, thank you.

654
00:35:33,000 --> 00:35:35,640
Speaker 1: We are live from the Bloomberg Interactive Brokers studios, where

655
00:35:35,640 --> 00:35:38,120
Speaker 1: it's almost six fifty one on Wall Street Time Now

656
00:35:38,120 --> 00:35:40,000
Speaker 1: to check what's going on in d C. Some of

657
00:35:40,040 --> 00:35:43,160
Speaker 1: the top stories in our nation's capital include President Biden's

658
00:35:43,200 --> 00:35:46,120
Speaker 1: plea for limits on assault weapons after a wave of

659
00:35:46,120 --> 00:35:49,160
Speaker 1: deadly mass shootings. I believe the majority of you will

660
00:35:49,200 --> 00:35:52,280
Speaker 1: act to turn your outrage into making this issue central

661
00:35:52,320 --> 00:35:56,880
Speaker 1: to your vote. Enough enough enough. Also making news, a

662
00:35:56,960 --> 00:35:59,840
Speaker 1: Democratic bill to address gun violence clearing a House committee,

663
00:35:59,840 --> 00:36:03,359
Speaker 1: and the January six House Panel detailing its plans for

664
00:36:03,440 --> 00:36:07,680
Speaker 1: public hearings starting next week. Bloomberg Government reporter Emily Wilkins

665
00:36:07,800 --> 00:36:10,600
Speaker 1: joins us from on all these stories this morning, after

666
00:36:10,640 --> 00:36:14,920
Speaker 1: that primetime address from President Biden on gun safety. Emily,

667
00:36:15,120 --> 00:36:18,439
Speaker 1: good morning. We did hear some pretty specific proposals from

668
00:36:18,480 --> 00:36:21,160
Speaker 1: the President last night. Is this the kind of thing

669
00:36:21,200 --> 00:36:23,719
Speaker 1: that's going to tip the balance of the debate that's

670
00:36:23,800 --> 00:36:27,479
Speaker 1: underway in Washington? So? I think really the all eyes

671
00:36:27,600 --> 00:36:29,360
Speaker 1: right now are on the Senate, where you do have

672
00:36:29,440 --> 00:36:32,920
Speaker 1: this bipartisan group of senators led by Democrat Chris Murphy

673
00:36:32,920 --> 00:36:36,399
Speaker 1: from Connecticut Republican John Corner from Texas. They are trying

674
00:36:36,440 --> 00:36:38,760
Speaker 1: to figure out if there is some sort of middle

675
00:36:38,840 --> 00:36:42,560
Speaker 1: ground on guns, and they've talked to christ Murphy's kind

676
00:36:42,560 --> 00:36:44,680
Speaker 1: of flagged a couple of different things. Number one, the

677
00:36:44,719 --> 00:36:47,400
Speaker 1: so called red flag laws that prevents those with vilent

678
00:36:47,480 --> 00:36:49,920
Speaker 1: tendencies or who might be a sort of in a

679
00:36:50,000 --> 00:36:54,400
Speaker 1: bad place from owning guns are temporarily possessing them. This

680
00:36:54,480 --> 00:36:57,720
Speaker 1: could also include things like expanded background checks, state storage

681
00:36:57,719 --> 00:37:01,239
Speaker 1: of firearms, school safety upgrades. I think we're really gonna

682
00:37:01,280 --> 00:37:04,399
Speaker 1: get a better understanding of how likely this is next week,

683
00:37:04,440 --> 00:37:07,240
Speaker 1: when senators are actually back and all in DC together.

684
00:37:07,600 --> 00:37:10,520
Speaker 1: So far, the conversations have been happening remotely as all

685
00:37:10,560 --> 00:37:13,440
Speaker 1: of them have been back in their respective states. We

686
00:37:13,480 --> 00:37:16,560
Speaker 1: also saw Democrats pass legislation yesterday that would raise the

687
00:37:16,600 --> 00:37:20,000
Speaker 1: age to purchase some semi automatic rifles from eighteen to

688
00:37:20,040 --> 00:37:22,960
Speaker 1: twenty one. We also saw a New York state legislature

689
00:37:23,200 --> 00:37:25,719
Speaker 1: also approve of bill that would do just that, and

690
00:37:25,760 --> 00:37:28,560
Speaker 1: that is something that Biden called for, So that's another

691
00:37:28,600 --> 00:37:31,560
Speaker 1: potential thing that we could see go through. However, the

692
00:37:31,600 --> 00:37:36,000
Speaker 1: bill that was advanced by a House Democratic paneling yesterday,

693
00:37:36,680 --> 00:37:39,239
Speaker 1: it's it's likely to pass the House, but it's not

694
00:37:39,320 --> 00:37:41,759
Speaker 1: likely to pass the Senate at this point, so there's

695
00:37:41,760 --> 00:37:45,640
Speaker 1: still a question about exactly what legislation is going to

696
00:37:45,680 --> 00:37:48,839
Speaker 1: come through that can move UM. Definitely heard a lot

697
00:37:48,880 --> 00:37:52,040
Speaker 1: of lawmakers on both sides speak up about the need

698
00:37:52,080 --> 00:37:55,319
Speaker 1: to address this in some tangible way, and you heard

699
00:37:55,360 --> 00:37:58,480
Speaker 1: Republicans Senate Minority Leader Mitch McConnell say that he is

700
00:37:58,520 --> 00:38:01,920
Speaker 1: hopeful and optimist stick that something can be done. Yea,

701
00:38:02,000 --> 00:38:04,319
Speaker 1: it is interesting to see the House moving forward on

702
00:38:04,320 --> 00:38:08,520
Speaker 1: this democratic legislation while the Senate negotiations are under way.

703
00:38:08,760 --> 00:38:11,640
Speaker 1: Where do you see as far as this dual track

704
00:38:11,840 --> 00:38:16,440
Speaker 1: going on here in terms of moving something forward. Well,

705
00:38:16,440 --> 00:38:19,279
Speaker 1: I think in the House it's a little bit more

706
00:38:19,480 --> 00:38:22,000
Speaker 1: of a messaging bill, just because we saw a yesterday

707
00:38:22,200 --> 00:38:25,680
Speaker 1: with the Judiciary Committee Democrats moving to approving to move

708
00:38:25,719 --> 00:38:28,839
Speaker 1: this forward and Republicans opposing it, saying that they were

709
00:38:28,840 --> 00:38:31,480
Speaker 1: concerns about the number of restrictions and whether or not

710
00:38:31,520 --> 00:38:34,520
Speaker 1: would actually do anything to prevent mass shootings like the

711
00:38:34,520 --> 00:38:37,080
Speaker 1: ones we've seen in the last few weeks. And so

712
00:38:37,560 --> 00:38:39,680
Speaker 1: it's likely that the House bill it's going to pass,

713
00:38:39,719 --> 00:38:41,680
Speaker 1: the House lawmakers are going to be able to return

714
00:38:41,760 --> 00:38:44,640
Speaker 1: their constituents say we did do something. But I think

715
00:38:44,640 --> 00:38:47,320
Speaker 1: in terms of actually having legislation that's going to pass,

716
00:38:47,719 --> 00:38:50,520
Speaker 1: that's really going to be something that we need to

717
00:38:50,560 --> 00:38:53,759
Speaker 1: see in the Senate. Can they get an actual bill

718
00:38:54,120 --> 00:38:58,200
Speaker 1: and can that bill get their support of ten Republicans,

719
00:38:58,440 --> 00:39:00,600
Speaker 1: And as we heard from the President last night, he's

720
00:39:00,680 --> 00:39:04,560
Speaker 1: telling voters that he hopes that this issue spurs them

721
00:39:04,600 --> 00:39:07,000
Speaker 1: to go to the polls in November. Are we getting

722
00:39:07,000 --> 00:39:09,799
Speaker 1: any indication that this is the kind of issue that

723
00:39:09,880 --> 00:39:12,040
Speaker 1: we could affect the balance of power in Congress when

724
00:39:12,040 --> 00:39:14,360
Speaker 1: we get to those midterm elections. I mean, this is

725
00:39:14,400 --> 00:39:17,080
Speaker 1: certainly something that Democrats are going to be using in

726
00:39:17,160 --> 00:39:20,560
Speaker 1: their messaging as we get closer to November. Um, and

727
00:39:20,640 --> 00:39:23,520
Speaker 1: it's certainly something that voters care about. The question, of course,

728
00:39:23,600 --> 00:39:25,799
Speaker 1: is that you look at the big picture here and

729
00:39:25,880 --> 00:39:28,799
Speaker 1: there aren't a lot of voters who simply vote for

730
00:39:29,120 --> 00:39:32,000
Speaker 1: gun control. Gun rights, yes, gun control not so much.

731
00:39:32,360 --> 00:39:35,239
Speaker 1: And you're going to also see people consider the gut

732
00:39:35,280 --> 00:39:37,719
Speaker 1: price of gas, the price of food, how they feel

733
00:39:37,760 --> 00:39:39,960
Speaker 1: the economy is doing. So they're going to be a

734
00:39:39,960 --> 00:39:42,680
Speaker 1: lot of factors that really weigh into the mid terms.

735
00:39:42,920 --> 00:39:45,480
Speaker 1: It's not really clear at this point that this midterms

736
00:39:45,560 --> 00:39:47,680
Speaker 1: is going to be a referendum on guns, or that

737
00:39:47,680 --> 00:39:50,040
Speaker 1: they're even going to be specific races that will be

738
00:39:50,080 --> 00:39:52,799
Speaker 1: a referendum on guns. Oh, it does seem like we

739
00:39:52,840 --> 00:39:57,480
Speaker 1: are seeing at least some moves that the events surrounding

740
00:39:57,600 --> 00:40:01,360
Speaker 1: January six are going to be put potentially is a

741
00:40:01,400 --> 00:40:04,600
Speaker 1: mid term election issue, with the House panel that's been

742
00:40:04,640 --> 00:40:08,040
Speaker 1: investigating it for nearly a year getting ready for public

743
00:40:08,120 --> 00:40:11,120
Speaker 1: hearings here. Oh absolutely, Nathan, I mean this ties very

744
00:40:11,200 --> 00:40:14,520
Speaker 1: much into the midterms and in Democrats message that Republicans

745
00:40:14,800 --> 00:40:17,440
Speaker 1: really can no longer be trusted by the American people

746
00:40:17,800 --> 00:40:21,400
Speaker 1: after January six. And you've got this panel of lawmakers

747
00:40:21,440 --> 00:40:25,320
Speaker 1: of seven Democrats to Republicans. They've been investigating in January

748
00:40:25,320 --> 00:40:27,920
Speaker 1: six for eleven months now. They've interviewed more than a

749
00:40:27,920 --> 00:40:31,800
Speaker 1: thousand witnesses, but so far everything has been behind closed doors.

750
00:40:32,040 --> 00:40:34,359
Speaker 1: So we're looking at the first public hearing next month.

751
00:40:34,600 --> 00:40:37,040
Speaker 1: It is being held at eight PM. That's a weird

752
00:40:37,080 --> 00:40:40,600
Speaker 1: time for congressional hearing, but it is prime time on television,

753
00:40:40,640 --> 00:40:43,719
Speaker 1: which means that Americans are more likely to actually be

754
00:40:43,800 --> 00:40:46,520
Speaker 1: tuning in for it. A committee officials said that they

755
00:40:46,560 --> 00:40:50,560
Speaker 1: will present previously unseen material and indicated that there is

756
00:40:50,680 --> 00:40:53,920
Speaker 1: evidence that Trump and his associates may have committed crimes

757
00:40:53,920 --> 00:40:57,960
Speaker 1: by attempting to prevent Congress from certifying Biden's victory in

758
00:40:58,040 --> 00:41:01,120
Speaker 1: the electoral College. And what are we expecting a final

759
00:41:01,200 --> 00:41:05,000
Speaker 1: report to come out following these public hearings. Is it

760
00:41:05,000 --> 00:41:07,920
Speaker 1: going to be close to November? It will be. The

761
00:41:07,960 --> 00:41:10,960
Speaker 1: Panels expected to release its full report within a few months,

762
00:41:11,080 --> 00:41:13,680
Speaker 1: and so that puts it kind of in the time

763
00:41:13,719 --> 00:41:16,799
Speaker 1: time frame where we're a little bit past the primaries,

764
00:41:16,840 --> 00:41:19,160
Speaker 1: we're looking at the general and more Americans are actually

765
00:41:19,200 --> 00:41:21,600
Speaker 1: starting to think about the primaries. I think the the

766
00:41:21,640 --> 00:41:24,640
Speaker 1: average American um isn't thinking too much about the mid

767
00:41:24,760 --> 00:41:27,960
Speaker 1: terms still at this point, just because election day is

768
00:41:27,960 --> 00:41:31,440
Speaker 1: is still pretty far away. Bloomberg Government reporter Emily Wilkins

769
00:41:31,480 --> 00:41:34,520
Speaker 1: with us this morning from Washington, d C. As always,

770
00:41:34,520 --> 00:41:37,400
Speaker 1: thanks for the update, and you can read more about

771
00:41:37,440 --> 00:41:40,160
Speaker 1: all these stories on Bloomberg dot com or on the

772
00:41:40,160 --> 00:41:43,960
Speaker 1: Bloomberg terminal, and follow all the latest on Bloomberg Radio

773
00:41:44,080 --> 00:41:48,640
Speaker 1: in Washington Bloomberg and one oh five point seven FM

774
00:41:48,880 --> 00:41:52,520
Speaker 1: HD too. This morning, the focus in Washington will be

775
00:41:52,640 --> 00:41:55,879
Speaker 1: on jobs. The May pay rolls report do out in

776
00:41:55,920 --> 00:41:58,840
Speaker 1: just about an hour and a half. We'll have full

777
00:41:58,920 --> 00:42:02,600
Speaker 1: coverage for the release of the May non farm payrolls

778
00:42:02,640 --> 00:42:05,759
Speaker 1: coming out at eight thirty am Wall Street Time, and

779
00:42:05,960 --> 00:42:09,640
Speaker 1: reaction from Labor Secretary Marty Walsh. It's expected about an

780
00:42:09,640 --> 00:42:12,000
Speaker 1: hour later. We're also gonna bring you comments from President

781
00:42:12,040 --> 00:42:15,120
Speaker 1: Biden as well. He's expected to react to the May

782
00:42:15,200 --> 00:42:17,799
Speaker 1: jobs report later this morning as well from the White House.

783
00:42:17,840 --> 00:42:20,880
Speaker 1: We'll have it all for you live here on Bloomberg Radio.

784
00:42:21,040 --> 00:42:23,719
Speaker 1: Ahead of all that, futures are moving lower. We have

785
00:42:23,840 --> 00:42:26,760
Speaker 1: SMP futures right now down twenty three point, STAFLE futures

786
00:42:26,760 --> 00:42:29,560
Speaker 1: down a hundred fourteen. NASDAC futures are lower by a

787
00:42:29,640 --> 00:42:32,800
Speaker 1: hundred twenty points. The tenure treasury is down to thirty

788
00:42:32,840 --> 00:42:37,480
Speaker 1: seconds yield two point nine. Bitcoin right now trading just

789
00:42:37,719 --> 00:42:41,719
Speaker 1: below thirty thousand dollars. Bloomberg Surveillance up next with Tom Keene,

790
00:42:41,800 --> 00:42:46,240
Speaker 1: Jonathan Farrell, and Lisa Abramowits for Karen Moscow. I'm Nathan Hagar,

791
00:42:46,400 --> 00:42:48,320
Speaker 1: and this is Bloomberg