Speaker 1: By from the Bloomberg Interacted Brooker Studios. This is Bloomberg
Speaker 1: Gay Break for Friday, June three, two. Coming up this hour,
Speaker 1: President Biden pleads with Congress to tough and gun laws.
Speaker 1: New York lawmakers raised the h device semi automatic rifles.
Speaker 1: Investors await them. May employment report and job cuts may
Speaker 1: be coming at Tesla. Lawmakers agreed to a financial boost
Speaker 1: to repair New York City's public housing developments. Plus the
Speaker 1: man Hunt Court sixes prisoners gap killed five on the
Speaker 1: Loos is Over. I'm Michael Larer or a half. I'm
Speaker 1: John Stashow. In sports, the Mets shout out by the Dodgers,
Speaker 1: The Yankees swept a double letter from the Angels, the
Speaker 1: Celtics one Game one of the NBA Final. That's All's
Speaker 1: tradinghead on Bloomberg Daybreak on Bloomberg eleven three on New York,
Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston,
Speaker 1: Bloomberg nine sixties and Francisco Sirius XM one nineteen and
Speaker 1: around the world Long Bloomberg Radio dot Com and The
Speaker 1: Bloomberg Business. And Good Morning. I'm Nathan Hager and I'm
Speaker 1: Karen Moscow and USTCK index futures are lower this morning.
Speaker 1: We are coming up to six o one on Wall Street,
Speaker 1: and we check the markets every fifteen minutes throughout the
Speaker 1: trading day. On Bloomberg SMP future is down thirteen points
Speaker 1: this morning. Down futures down seventy six. Nasdack futures down
Speaker 1: seventy two. The decks in Germany is up a third
Speaker 1: of a percent. Ten year Treasury down three thirty seconds,
Speaker 1: the yield two point in nine to two percent, and
Speaker 1: the yield on the two year two point six four percent.
Speaker 1: NIMEX scrude oil is down seven tenths per cent or
Speaker 1: seventy nine cents at a hundred sixteen dollars six cents
Speaker 1: of barrel. Comex goal down to tenths per cent or
Speaker 1: three dollars nineties cents at eighteen sixty seven fifty. Announced
Speaker 1: Bitcoin is at thirty thousand, two hundred thirty dollars. Nathan,
Speaker 1: all right, Karen, thank you. This morning, we begin with
Speaker 1: a plea for action from President Biden after a wave
Speaker 1: of deadly mass shootings across the country. Do something, Just
Speaker 1: do something, for God's sake, do something. In a primetime
Speaker 1: address from the White House, the President called for a
Speaker 1: ban on assault weapons, at high capacity magazines and an
Speaker 1: end to lawsuit protections for gunmakers. President said responsible gun
Speaker 1: owners should not be worried about their rights going away.
Speaker 1: Machine guns have been federally regulated for nearly ninety years,
Speaker 1: and this is still a free country. This isn't about
Speaker 1: taking to anyone's rights shot protecting children, while protecting families,
Speaker 1: while protecting whole communities. As President Biden spoke, the House
Speaker 1: Judiciary Committee approved a bill that would raise the minimum
Speaker 1: age to buy semi automatic rifles and also banned high
Speaker 1: capacity magazines. That bill is not likely to pass in
Speaker 1: the Senate. Meantime, Nathan lawmakers in New York have raised
Speaker 1: the age to buy semi automatic rifles. The New York
Speaker 1: state legislature approved increasing the legal age to from eighteen.
Speaker 1: It also passed a package aimed at reducing the likelihood
Speaker 1: of mass shootings by tightening rules to purchase firearms and
Speaker 1: other military equipment. In neighboring New Jersey, Karen Governor Phil
Speaker 1: Murphy says he's optimistic his state will also enact stronger
Speaker 1: gun laws. New Jersey is one of the strongs gun
Speaker 1: safety states in America. We've got a lot past to
Speaker 1: sign in our four and a half years because yet
Speaker 1: another package of bills that we think to make our
Speaker 1: stadia the safer, and we want to get those over.
Speaker 1: The New Jersey Governor Phil Murphy was a guest on
Speaker 1: Bloomberg's Balance of Power. Catch the show weekdays at noon
Speaker 1: Eastern on Bloomberg Radio and Television. In the interests of transparency,
Speaker 1: we should note that Michael Bloomberg, the founder and majority
Speaker 1: owner of Bloomberg LP, the parent company of Bloomberg Radio,
Speaker 1: is a donor two groups that support gun control. Well.
Speaker 1: Another major story we're following this morning, Nathan, the House
Speaker 1: panel investigating last year's Capitol Hill insurrection is ready to
Speaker 1: take its findings public. Bloomberg's Amy Morris has details from
Speaker 1: our ninety nine one newsroom in Washington. After nearly a
Speaker 1: year of investigation, subpoenas, and testimony, the January sixth panel
Speaker 1: will lay out its findings for the public in a
Speaker 1: series of hearing starting next Thursday. Most of their work
Speaker 1: has been behind closed doors, but now members say the
Speaker 1: panel will present previously unseen material documenting what happened on
Speaker 1: January six and provide a summary of its findings. The
Speaker 1: first of a series of public hearings is set for
Speaker 1: eight o'clock Thursday night. It's prime time in the US
Speaker 1: to give the investigation maximum exposure. In Washington, I'm maybe
Speaker 1: more as Bloomberg Daybreak, Okay, Amy, thank you. Also in Washington,
Speaker 1: this morning we get the release of the May jobs report.
Speaker 1: Economists predict three twenty thousand non farm payrolls are created
Speaker 1: last month. Regardless, Andrew Husby US and Canada economists for
Speaker 1: Bloomberg Economics, does not think the report will impact FED policy.
Speaker 1: You know, early signs that labor demand is cooling, But
Speaker 1: certainly there's nothing in this report that's going to shape
Speaker 1: the head off of tightening moves of at least fifty
Speaker 1: basis points the next couple of meeting. Andrew husband Bloomberg
Speaker 1: Economics says, look for that next half percent hike at
Speaker 1: the FEDS policy meeting coming up June. Well, the feds
Speaker 1: major focus right now, of course, is curbing inflation. Black
Speaker 1: Rock chair and CEO Larry Fink is weighing in on
Speaker 1: the matter, and he knows Bloombery the FED may not
Speaker 1: have the tools right now to deal with higher prices.
Speaker 1: There's greater recognition that inflation is is not transitory. It
Speaker 1: is probably with us for a number of years, and
Speaker 1: at the type of inflation that I don't believe the
Speaker 1: Federal Reserve has the policy or the tools to do
Speaker 1: much with it right now. And I'm personally not blaming
Speaker 1: the Federal Reserve for where they where we are right now,
Speaker 1: but I believe most of the problems we're living with
Speaker 1: today are more policy generated and supply generated. Black Rocks
Speaker 1: CEO Larry Think maybe the comments in an interview with
Speaker 1: The Bloomberg's David Weston. Here more of that conversation in
Speaker 1: just a few minutes. Well, let's go to corporate News now, Karen,
Speaker 1: and the latest from Elon Musk. The Testa CEO has
Speaker 1: reportedly told executives the electric carmaker needs to cut staff
Speaker 1: by abound ten percent. According to Reuter's, Musk sent out
Speaker 1: an email titled pause all hiring worldwide. The report says
Speaker 1: Musk has a quote super bad feeling about the economy.
Speaker 1: Testa shares are down more than three and a half
Speaker 1: percent in early trading. On the flip side, Nathan well
Speaker 1: Art is adding employees. The retailer will build four new
Speaker 1: e commerce warehouses and a push to speed deliveries. The
Speaker 1: move will create more than four thousand jobs. It also
Speaker 1: will let Walmart reach nine of the US population with
Speaker 1: one or two days shipping. That's from about seventy right
Speaker 1: now on the earning strite today, Karen Shares of Lululemon
Speaker 1: Athletica are up more than one percent in early training.
Speaker 1: The company reported results that beat estimates. We get the
Speaker 1: details from Bloomberg's Doug Prisner. The athletic ware retailer reported
Speaker 1: comp stores sales rose in the first quarter and net
Speaker 1: revenue reached one point six billion dollars. Importantly, Lulu Lemon
Speaker 1: also raised its full year forecast. The company is expecting
Speaker 1: sales to reach as much as seven point seven billion
Speaker 1: in its fiscal year. Lulu Lemon has been accelerating deliveries
Speaker 1: to get products to stores in time to meet robust demand.
Speaker 1: Even so, the company says logistics problems that hurt performance
Speaker 1: since the holiday season haven't yet fully been alleviated. In
Speaker 1: New York, I'm Doug Prisner, Bloomberg Daybreak, All Right, Doug
Speaker 1: FANKSS and P futures down fourteen points, staff futures down
Speaker 1: seventy Nastac futures are lower by seventy eight points. The
Speaker 1: tenure treasury is down four thirty seconds yield two point
Speaker 1: nine nime x crewed down nine tenths per cent, or
Speaker 1: a dollar nine at a hundred fifteen dollar seventy eight
Speaker 1: cents of barrel. Straight ahead, your latest local headlines and
Speaker 1: the check of sports. This is Bloomberg Sounds six o
Speaker 1: seven on Wall Street work sixty three degrees in Central Park.
Speaker 1: It's getting heavy on the George Washington Bridge after an
Speaker 1: earlier accident on the outbound side. We'll get more on
Speaker 1: traffic shortly. First, Michael Barr with more on what's going
Speaker 1: on in New York and around the world. Michael, thank
Speaker 1: you very much. Nathan. They're living in leaky and moldy units. Yesterday,
Speaker 1: New York lawmakers have approved a new entity to help
Speaker 1: finance much needed renovations at New York City's public housing developments.
Speaker 1: The New York City Public Housing Preservation Trust will allow
Speaker 1: the city Housing Authority to borrow money by pulling federal
Speaker 1: housing voutiers. The money will be used to make urgent
Speaker 1: repairs on his Many has a hundred thousand units on
Speaker 1: top of mold and leaks. Many of them are plagued
Speaker 1: by the lead paint and need critical upgrades to boilers
Speaker 1: and elevators. Texas prison officials say a convicted murderer on
Speaker 1: the run since escaping a prison bus on May twelfth
Speaker 1: has been killed after he killed a family of five
Speaker 1: and took their truck. Prison spokesman Jason Clark says Gonzalo
Speaker 1: Lopez was shot dead by law enforcement south of San
Speaker 1: Antonio late last night. Where we are very sadden that
Speaker 1: the murders happen, but I will tell you that we
Speaker 1: are breathing a sigh of relief that Lopez will not
Speaker 1: be able to hurt anyone else. Prison spokesman Jason Clark
Speaker 1: says the five killed in their residence included an adult
Speaker 1: and four miners. After Lopez broke in. Authorities in Tulsa, Oklahoma,
Speaker 1: say the suspect who killed four people inside a medical
Speaker 1: building Wednesday was a patient to one of the victims.
Speaker 1: The victims have been identified as Dr Preston Phillips, Doctor
Speaker 1: Stephanie Houston, Amanda Green, then William Love. The suspect has
Speaker 1: been identified as Michael Lewis tell Us. The police chief,
Speaker 1: Wendell Franklin, said Dr Phillips performed back surgery on Lewis,
Speaker 1: who was angry about lingering pain. Following the operation. We
Speaker 1: have also found a letter on the suspect which made
Speaker 1: it clear that he came in with the intent to
Speaker 1: kill Dr Phillips and anyone who got in his way.
Speaker 1: Chief Franklin says the shooter took his own life when
Speaker 1: officers closed. In Britain continues to mark the Queen's platinum Jubilelee. Today,
Speaker 1: a service of Thanksgiving takes place in St. Paul's Cathedral
Speaker 1: for the Queen's his story seventy years of service. Harry
Speaker 1: and Megan will be there. However, Prince Andrew will not.
Speaker 1: He tested positive for COVID, and the Queen, who is
Speaker 1: ninety six, decided to skip the trip because it will
Speaker 1: just be too much for her. Global news twenty four
Speaker 1: hours a day on air and on Bloombergy Quick Take,
Speaker 1: powered by more than und journalists and analysts more than
Speaker 1: a hundred twenty countries. At Michael bar this is Bloomberg.
Speaker 1: Nathan all right, Michael, thank you almost six ten on
Speaker 1: All Street time for the Bloomberg Sports Update with John Stes.
Speaker 1: All right, they've been starting pitching has carried the Yankees
Speaker 1: in this great start, and it was on display in
Speaker 1: the Bronx in the double header with the Angels up
Speaker 1: first was Nestor Cortez, arguably the best pitcher in the
Speaker 1: Major so far. Seven more scoreless innings. Yanks had four
Speaker 1: solo home runs, three came off show Otani. They won
Speaker 1: six to one as Cortes lowered as z R eight
Speaker 1: a one and a half. And then it was Jamison
Speaker 1: Tyone's turn, coming off eight scoreless innings at Tampa Bay
Speaker 1: where he allowed only two hits. Tyone win eight ins.
Speaker 1: Again he had a perfect game going in the eight.
Speaker 1: The Angels broke it up, broke up a scoreless game,
Speaker 1: but the Yanks came through bottom the eighth, they too
Speaker 1: out to run game winning pinch hit single for Anthony
Speaker 1: rizz On. The Yanks one two to one to sweep
Speaker 1: the twin Bill. Mets started their ten games Southern California
Speaker 1: road trip. They had only three hits, lost the Dodgers
Speaker 1: to nothing. That ends the Mets six game win Street
Speaker 1: Game one of the NBA Finals. The South is tilled
Speaker 1: by fifteen. They won with a big fourth quarter tat
Speaker 1: over the shoulder past Marcus Smart left side three, good night.
Speaker 1: What's gonna say about Marcus three? What they say? It's seven?
Speaker 1: In Boston, the co host Celts won that fourth quarter
Speaker 1: at forty to sixteen. That's the most lopsided fourth quarter
Speaker 1: score in finals history. Boston be Golden's Day one one
Speaker 1: oh a first team in finals history to come from
Speaker 1: more than ten down and win by more than ten's down.
Speaker 1: The Cup has Colorado shut out Edmonton for nothing to
Speaker 1: nothing lead in the West. Rangers go for a two
Speaker 1: nothing leading in the East. Tonight at the Garden. It's
Speaker 1: Game two with Tampa Bay or Rafael the Dal versus
Speaker 1: alex Arev. Today in Paris, French Open semifinals. Tomorrow's Women's
Speaker 1: final IgA Swayattech versus the eighteen year old American Cocoa
Speaker 1: Go John stash Were Bloomberg Sports, Nathan all Right, John
Speaker 1: thanks SMP futures down down fourteen points down features down
Speaker 1: seventy six sore nastack futures the ten your treasuries down
Speaker 1: three thirty seconds, yield two point nine one percent and
Speaker 1: to yield on the two year right now two point
Speaker 1: six four percent coming up. Comments from Black Rock CEO
Speaker 1: Larry Fink. This is Bloomberg Blomberg eleven three oh weather
Speaker 1: turning partly to hostly sunny today after the fog burns off.
Speaker 1: We'll get up to your seventy five degrees sunshine for
Speaker 1: the weekend. Upper seventies tomorrow, low seventies on Sunday right
Speaker 1: now sixty three in Central Park markets. Headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape. This
Speaker 1: is a Bloomberg Business flash and I'm Karen Moscow U
Speaker 1: West Dock Index futures falling after report that Tesla chief
Speaker 1: executive Elon Muss said the electric car maker needs to
Speaker 1: cut staff amid a gloomy economic outlook. Investors also awaiting
Speaker 1: the mape Hayrolls report at any thirty Wall Street time.
Speaker 1: Hen we check the markets every fifteen minutes throughout the
Speaker 1: training day on Bloomberg s and P futures down sixteen
Speaker 1: points down, futures down eighty six, snaz DAG futures down
Speaker 1: eighty eight and the decks in Germany is at a
Speaker 1: quarter percent. Ten year treasury down three thirty seconds, yield
Speaker 1: two point nine one percent. They yield on the two
Speaker 1: year two point six four percent. Nine Max Screwede oil
Speaker 1: is down night ten percent and down a dollar six
Speaker 1: and a hundred fifteen dollars eighty one cents a barrel.
Speaker 1: Comex Gold is down two tens percent or two dollars
Speaker 1: eighty cents at eighteen sixty eight fifty announced the euro
Speaker 1: one point oh seven four two against the dollar, British
Speaker 1: pound one point to five seven zero, and a yen
Speaker 1: one thirty point oh nine. And Big Coin is down
Speaker 1: about a third of a percent at thirty thousand, one
Speaker 1: hundred twenty dollars. That's a bloomberg business flash. Now here's
Speaker 1: Michael Barr with more on what's going on around the world.
Speaker 1: Michael Karen, thank you very much. President Joe Biden called
Speaker 1: for a ban on the sales of assault weapons and
Speaker 1: high capacity magazines. How many more innocent American lives must
Speaker 1: be taken before we say enough enough? Meanwhile, the New
Speaker 1: York Legislature approved raising the legal age to buy semi
Speaker 1: automatic rifles from eighteen to twenty one. Game one of
Speaker 1: the NBA Finals, the Celtics beat the Warriors. After Wednesday's
Speaker 1: when the Rangers host Game two of the NHL East
Speaker 1: Final tonight against the Lightning. In baseball, the Yankees won
Speaker 1: a double head ever against the Angels. The Mets lost,
Speaker 1: along with the Nationals, Orioles and Giants. Global News twenty
Speaker 1: four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven hundred journalists and analysts
Speaker 1: in more than one hundred twenty countries. I'm Michael lar
Speaker 1: and this is Bloomberg. Nathan. All right, Michael, thank you.
Speaker 1: It's six nineteen on Wall Street Live from the Bloomberg
Speaker 1: Interactive Broker Studios. This is Bloomberg day Break. We know
Speaker 1: want to bring you an interview with black Rock Chief
Speaker 1: executive officer Larry Fink. He sat down with our David
Speaker 1: Weston on Bloomberg's Balance of Power and painted an uncertain
Speaker 1: picture for the economy. Fate told David the only thing
Speaker 1: he's sure about is the market will continue to be unpredictable.
Speaker 1: The markets have had sort of a rocky road. Can
Speaker 1: we say so far this year as you look forward,
Speaker 1: is there any real prospect it? Can they can recoup
Speaker 1: in the second half a year? Probably not, not totally.
Speaker 1: Um Let's start off, the market has recalibrate itself. We
Speaker 1: we witnessed now exchanging policies and the feder Reserve we
Speaker 1: raised short rates we have, so we saw a recalibration
Speaker 1: of growth stocks um that's principally of the majority of
Speaker 1: the downfall. And yet and the index are masking some
Speaker 1: of the problems because part of the index are energy
Speaker 1: companies commodity companies that are up quite a bit. So
Speaker 1: if you look at the you know, the volatility in
Speaker 1: the market and the spread between winners and losers, it's
Speaker 1: pretty broad this year. And so we've taken out a
Speaker 1: lot of those gains that we saw during the COVID
Speaker 1: years and during the two years where we were you know,
Speaker 1: changing our lives and we were emphasizing different companies, and
Speaker 1: now we're seeing the reverse impact of that. So that
Speaker 1: was one of the foundations of it. But now there's
Speaker 1: greater recognition that inflation is not transitory. It is probably
Speaker 1: with us for a number of years, and at the
Speaker 1: type of inflation that I don't believe that at a
Speaker 1: reserve has the policy or the tools to do much
Speaker 1: with it right now. And I'm personally not blaming the
Speaker 1: Fed Reserved for where they where we are right now,
Speaker 1: but I believe most of the problems we're living with
Speaker 1: today are more policy generated and supply generated. It's been
Speaker 1: aggravated now obviously by COVID and lockdowns in different parts
Speaker 1: of the world where we are manufacturing goods. It has
Speaker 1: been further aggravated about the Ukraine uh Russian War and
Speaker 1: where we have supply shocked. But I have this fundamental
Speaker 1: view that much of the inflation has been generated by
Speaker 1: some very large policy policy shifts. In the United States.
Speaker 1: We have Jamie Diamond talking about a hurricane. Potentially, are
Speaker 1: you saying something that's significant? What's the chance of her session?
Speaker 1: And not so much of this year, But in twenty
Speaker 1: four I think Jamie said one outcome could be a hurricane.
Speaker 1: It may not be that, So you know, you know,
Speaker 1: I know that sounds so perfect for the media hurricane,
Speaker 1: but uh, I don't. I could see scenarios where it
Speaker 1: could be quite add another another downward draft of significance,
Speaker 1: um uh, and that's going to be dependent on earnings
Speaker 1: going forward. But I could also see a scenario where
Speaker 1: we're gonna be muddling along for the next year or
Speaker 1: two right around this level, and you know, maybe up
Speaker 1: five p down ten percent. But we're gonna be in
Speaker 1: this range bound area until we have better information. And
Speaker 1: the one thing I will say with total certainty, we're
Speaker 1: gonna be living with more uncertainty. And and so with
Speaker 1: that in mind, we are going to have bouts of
Speaker 1: fear which is going to bring down the markets and
Speaker 1: and a little more confidence going on forward. But we
Speaker 1: have not witnessed huge asset allocation changes by our investors.
Speaker 1: I was gonna ask about that, what are you see
Speaker 1: in your funds? For example, are people buying bonds ag
Speaker 1: in for example, in your pow Oh my gosh. In
Speaker 1: the month of May, we've had we had the biggest
Speaker 1: increase in ETF bond purchases. Um. I mean, we had
Speaker 1: thirty something billion dollars of inflows in bonds, whether it's
Speaker 1: credit or all that. So you were certainly seeing a
Speaker 1: revaluation of how far integrates need to go upward. Uh.
Speaker 1: And so that's also one of the big trends. I mean,
Speaker 1: you know, I'd say thirty days, so many people were
Speaker 1: calling for a deep recession and now people are mitigating that. Obviously,
Speaker 1: there are views that we could have a deeper session
Speaker 1: or a hurricane, but that's just one of the outcomes.
Speaker 1: I mean, I could. I think there's higher probabilities of
Speaker 1: outcomes that we're going to be more range bounds with
Speaker 1: a lot of fatility. Certainly, there's uncertain about exactly what
Speaker 1: happens with the Fed. Maybe not so much on rate
Speaker 1: increases as one are the consequences will be of the
Speaker 1: quantity of tightening which actually started this week this week,
Speaker 1: what are those consequences likely to be? In your judgment,
Speaker 1: you better find new buyers. I think the market place
Speaker 1: does not understand the dependency of low rates was on
Speaker 1: the QUI purchases with the trillions of dollars at the
Speaker 1: Federal Reserve. But let's let's be clear. Between Japan and China,
Speaker 1: they own, you know, close to two and a half
Speaker 1: trillion dollars of US traceries too, So there are big
Speaker 1: owners and big players and and obviously what will be
Speaker 1: the future clearing prices rates with less QUI and now
Speaker 1: reversal it do we need to get up to a
Speaker 1: three percent tenure to meet a lot more demand, and
Speaker 1: so much of this is we're all gonna have to
Speaker 1: see what is what are the cons And that was
Speaker 1: Black Rock CEO Larry Fink speaking with Bloomberg David Weston.
Speaker 1: You can catch their full conversation on our website Bloomberg
Speaker 1: dot com. Right now, S ANDP futures are down thirteen
Speaker 1: points down, futures down fifty nine, NASTAC futures lower by
Speaker 1: seventy nine points as we await the release of the
Speaker 1: May pay rolls report in just about two hours time.
Speaker 1: Full coverage of that for you right here on Bloomberg Radio.
Speaker 1: Tend your treasuries down to thirty seconds, the yield two
Speaker 1: point nine one percent and the yield on the two
Speaker 1: year two point six four percent. Nime X crew down
Speaker 1: nine tenths percent, down ninety nine cents at fifty eight
Speaker 1: cents of barrel, just to haad President Biden's plea for
Speaker 1: action on guns and Elon Musk's super bad feel thing
Speaker 1: about the economy. Five things you need to notice start
Speaker 1: your day coming up on Bloomberg Daybreak. Bloomberg Daybreak is
Speaker 1: brought to you by Hofstra University's Frank G's r School
Speaker 1: of Business, top ranked online NBA program with a real
Speaker 1: world foundation. Learn more at Hofstra dot e d U
Speaker 1: slash go grad Broadcasting live from the Bloomberg Interactive broker
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Speaker 1: d C. Bloomberg to Boston, Bloomberg one O six one
Speaker 1: to San Francisco, Bloomberg during sixteen to the country, Sirius
Speaker 1: XM to the one nine team, and around the globe
Speaker 1: the Bloomberg Business app and Bloomberg Radio dot com. This
Speaker 1: is Bloomberg Daybreak. It's six thirty on Wall Street. Good morning.
Speaker 1: I'm Nathan Hager and I'm Karen Moscow. We are just
Speaker 1: about three hours away from the open of US trading.
Speaker 1: Time for the five things you need to notice r
Speaker 1: your day brought to you by I b k R
Speaker 1: Investment Advisers switched to Interactive Brokers for lowest cost global
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Speaker 1: i A first President Biden addressed the nation last night
Speaker 1: with a plea to curb gun violence after a wave
Speaker 1: of deadly mass shootings across the country. Bloomberg said, Baxter
Speaker 1: has the details. Biden says enough and urges congressional action. Now.
Speaker 1: If we can't ban assault weapons and we should raise
Speaker 1: the age to purchase them from eighteen to one, strength
Speaker 1: and background checks, enact safe storage law and red flag laws.
Speaker 1: Repeal the immunity to protect gun manufactures and liability, address
Speaker 1: the mental health crisis. Biden says Second Amendment of Rights
Speaker 1: will not be violated and says he doesn't want to
Speaker 1: take away people's guns. In San Francisco, I'm at Baxter
Speaker 1: Bloomberg daybreak, All right, and thank you. As President Biden spoke,
Speaker 1: the House Judiciary Committee approved to bild that would raise
Speaker 1: the minimum age to purchase semi automatic rifles and banned
Speaker 1: high capacity magazines. That bill is not likely to pass
Speaker 1: in the Senate. Meantime, In New York, Nathan lawmakers raised
Speaker 1: the legal age to buy semi automatic rifles to one
Speaker 1: from eighteen. It also passed legislation tightening rules to purchase
Speaker 1: firearms and other military equipment. The neighboring New Jersey careen
Speaker 1: Governor Phil Murphy's optimistic his stable and acts stronger gun laws,
Speaker 1: but he says New Jersey can't do it alone. We're
Speaker 1: not an island. Year eighty five or so of the
Speaker 1: crime guns that are recovered in New Jersey from honest state,
Speaker 1: So we need Congress to act. New Jersey Governor Phil
Speaker 1: Murphy was a guest on Bloomberg's Balance of Power, airing
Speaker 1: at noon Eastern on Bloomberg Radio and Television, and in
Speaker 1: the entrance of transparency, we should note that Michael Bloomberg,
Speaker 1: the founder and majority owner of Bloomberg Alp, the parent
Speaker 1: of Bloomberg Radio, as a donor to groups that support
Speaker 1: gun control. Later this morning, Karen we get the May
Speaker 1: jobs report. Economists survey predict three twenty thousand non farm
Speaker 1: payrolls are created last month, and corporate news Nathan Tesla,
Speaker 1: CEO Elon musk Is reportedly told executives the electric carmaker
Speaker 1: needs to cut staff by about ten percent. Ruders reports
Speaker 1: must send an email titled pause all hiring worldwide. On
Speaker 1: the flip side, Karen Walmart is adding employees. The retailer
Speaker 1: will built four new e commerce warehouses and a push
Speaker 1: to speed deliveries. The move will create more than four
Speaker 1: thousand jobs. And that's the five things you need to
Speaker 1: notice start your day. Brought to you by Interactive Brokers
Speaker 1: SNP futures are down about thirteen points this morning. Down
Speaker 1: futures down fifty seven nowsday futures down ten year, treasury
Speaker 1: down three thirties seconds held two point nine one percent,
Speaker 1: straight ahead, your latest local headlines, plus a check of sports,
Speaker 1: and this is Bloomberg all right, Karen, Thank you. Is
Speaker 1: six thirty three on wall Street board sixty three degrees
Speaker 1: in Central Park watching volume build on the Hudson River crossings.
Speaker 1: Will get the details in traffic shortly. Michael bars here
Speaker 1: first with more on what's going on in New York
Speaker 1: and around the world. Once again, Good morning, Michael, Good
Speaker 1: morning Nathan. About a hundred thousand New York public housing
Speaker 1: units are full of mold, leaks, lead paint, broken boilers,
Speaker 1: and bus that elevators. Yesterday, New York lawmakers have proved
Speaker 1: a new entity to do something about it and finance
Speaker 1: much needed renovations. The New York City Public Housing Preservation
Speaker 1: Trust will allow the housing authority to borrow money by
Speaker 1: pooling federal housing vouchers. Authorities in Telsa, Oklahoma, say the
Speaker 1: suspect who killed four people inside a medical building Wednesday
Speaker 1: was a patient to one of the victims. Tulsa Police
Speaker 1: Chief doctor Wendell Franklin, says one of the victims, doctor
Speaker 1: Preston Phillips performed back surgery on the suspect. He blamed
Speaker 1: Dr Phillips for the ongoing pain falling. The surgery Chief
Speaker 1: Franklin says the suspect has been identified as Michael Lewis.
Speaker 1: Authorities in Texas say a convicted murderer who escaped from
Speaker 1: a prison buzz last month was shot dead by police
Speaker 1: last night after being accused of killing five people. Officials
Speaker 1: say Ganzana Lopez is believed to have killed an adult
Speaker 1: and four miners after breaking into a Leon County residence.
Speaker 1: At Ascosa County Sheriff David sour It says law enforcements
Speaker 1: spotted the pickup truck Lopez is believed to have stolen
Speaker 1: from the residents after a brief chase. Lopez accident the
Speaker 1: truck and was killed in the shootout with officers. He
Speaker 1: was in prison for murder, so he's serving a last
Speaker 1: sentence already, so you know, he didn't want to go
Speaker 1: back to prison obviously, and we knew what kind of
Speaker 1: person he was and what kind of action he probably
Speaker 1: was going to take. Sheriff Soward says no officers were injured.
Speaker 1: The UK Defense Ministry says Russian force his a game momentum.
Speaker 1: One hundred days into the invasion into Ukraine, Moscow is
Speaker 1: pushing to capture the Donbas region. Mary Upel Mayor vanum Boychenko,
Speaker 1: for the first time in person, is addressing the humanitarian
Speaker 1: situation in the Ukrainian city that is now occupied by
Speaker 1: Russian forces. The locals didn't even have their opportunity to
Speaker 1: bury those people in the civilized ways, so they were
Speaker 1: burying them in the yards in the parks nearby. Mayor Portchenko,
Speaker 1: through a translator, spoke at a news conference today. Britain
Speaker 1: continues to celebrate the Queen's jubilee for seventy years on
Speaker 1: the throne. Today a service of Thanksgiving takes place in St.
Speaker 1: Paul's Cathedral. However, the Queen will skip the event. Global
Speaker 1: Games twenty four hours a day on air and on
Speaker 1: Bloomberg Quick Take, powered by more than twenty seven hundred
Speaker 1: journalists and analysts more than a hundred twenty countries. I'm
Speaker 1: Michael bar This is Bloomberg. Nathan, Thanks Michael. Almost six
Speaker 1: thirty six On Wall Street, John stash Are has the
Speaker 1: Bloomberg Sports ing. All Right, Nathan Big comeback to start
Speaker 1: the NBA Finals. Golden State led Boston by fifteen points.
Speaker 1: Celtics then won the fourth quarter forty to sixteen, and
Speaker 1: they stole Game one from the Warriors one twenty one
Speaker 1: o eight. Celtics made more than half of their three
Speaker 1: winder Steph Curry drained six threes in the first quarter,
Speaker 1: but had only one after that. Seley Cup Whos Colorado,
Speaker 1: who won Game one eight to six, took Game two
Speaker 1: from Edmonton four nothing in the Aslee the West Finals
Speaker 1: to nothing Rangers in lightning Game two in the East
Speaker 1: tonight at the Garden, with the Rangers have won seven
Speaker 1: arrow of the Blue Shirts have won their last three
Speaker 1: overall by a combined seventeen to six. At the Stadium doubleheader,
Speaker 1: Swave Yankees, who teed off on show Heyo Tani in
Speaker 1: a game a year ago in the Bronx, hit three
Speaker 1: solo home runs off him, including Aaron Judge's nineteen to
Speaker 1: the year, and with Nestor Cortez dominant again, Yanks won
Speaker 1: the opener over the Angel six to one. The nightcap
Speaker 1: saw Jamison tyonn flirt with a perfect game. He lost
Speaker 1: it and lost the lead in the eighth inning of
Speaker 1: the Yanks one two to one thanks to a Anthony
Speaker 1: Rizzo two out, two run, pinch hit single in the
Speaker 1: eight Mets had only three hits. Lost the start of
Speaker 1: their so Cal road trip to the Dodgers, too nothing.
Speaker 1: Tony Gonsolin, now six and over l a. He beat
Speaker 1: Taiwan Walker, who suffered his coach lost. Ryan Fitzpatrick, who
Speaker 1: came out of Harvard the quarterback in the NFL for
Speaker 1: seventeen seasons for nine different teams, including a stint with
Speaker 1: the Jets, finally retiring from the age of thirty nine.
Speaker 1: Tomorrow's women's final the French Open will be Eagles Swyatzek
Speaker 1: riding a thirty four match winning brig against the eighteen
Speaker 1: year old American Coco Golf. They both won of their
Speaker 1: semifinal matches easily. Men's semis today, coming up, it's Rafteryana
Speaker 1: dal versus Alex Bettervan Dasher Bloomberg's Okay, John Thanks at
Speaker 1: six thirty seven on Wall Street Time now to take
Speaker 1: a look at stock some of the names moving in
Speaker 1: the pre market. For that, we are joined live this
Speaker 1: morning by Bloomberg television anchor and markets correspondent Danny Burger. Danny,
Speaker 1: We're watching the broader market move lower on this Friday morning.
Speaker 1: Is it's safe to say Tesla's a big reason why.
Speaker 1: I mean, certainly especially when it comes to the NAZAC
Speaker 1: one hundred um. Yeah, I mean it looks a Tesla
Speaker 1: has grabbed a lot of headlines recently, but this one,
Speaker 1: I'm cutting staff by ten percent. That would be almost
Speaker 1: about ten thousand jobs considering we have about in staff.
Speaker 1: Um and Elon Musk this is uh, this all of
Speaker 1: course according to an email um seen by Reuters, but
Speaker 1: Elon Musk in it apparently said he had a quote
Speaker 1: super bad feeling, which you know, very academic, but probably
Speaker 1: a lot of economists would probably say they also have
Speaker 1: a super bad feeling. Um. And so yeah, shares are
Speaker 1: down some three point nine percent this morning. If Elon
Speaker 1: Musk is a little bit pessimistic pulling back on jobs
Speaker 1: because of it could be a bad find for Tesla.
Speaker 1: And obviously Tesla is a big weight in the indexes.
Speaker 1: But looking at the brighter market, Danny, we've got some
Speaker 1: earnings as well, some positive signs there from Lulu Lemon Athletica. Yeah,
Speaker 1: and this one's interesting because it is just one of
Speaker 1: these persistent COVID trends, a lot of them have reversed
Speaker 1: if you think about, you know, some of the food deliveries,
Speaker 1: some of the other tech names. But Lulu Lemon seems
Speaker 1: to be able to continue to capture on this change
Speaker 1: to um not wanting to wear you know, suits and
Speaker 1: dresses and heels. And I say that as I'm currently
Speaker 1: sitting in my desk wearing a dress heels. However, if
Speaker 1: I could have, probably would be wearing athleisure. So Lulu
Speaker 1: Lemon able um to not just get that demand, but
Speaker 1: they're also able to speed up deliveries to get the
Speaker 1: products and stores to hatch up with that robust demand.
Speaker 1: So those shares moving higher this morning by about one
Speaker 1: point three percent. But I should also say, you know,
Speaker 1: still dealing with logistical problems that many companies are, the
Speaker 1: CFO talking about supply chain inflationary pressures. Their gross margin
Speaker 1: therefore was a little bit lower than expectations, but you know,
Speaker 1: that's certainly not enough to take the shine off the earnings.
Speaker 1: There's thirty seconds left here, Danny. Well, we got some
Speaker 1: deal news as well. What's going on with coals exactly?
Speaker 1: Coles is a Wall Street Journal story reporting that they
Speaker 1: received takeover bids from the PE firm Sycamore uh and
Speaker 1: the retail holding company Franchise Group. They're sending people familiar here.
Speaker 1: This would value Cold either in the mid fifty dollars
Speaker 1: a share or around sixty dollars a share. They're not
Speaker 1: quite up there yet, but pre markets trading higher by
Speaker 1: about seven point six percent. All right, Bloomberg Television anchor
Speaker 1: Markets corresponded Danny Burger with us this morning to take
Speaker 1: a look at the stocks on the move in the
Speaker 1: pre market, and as we take a look at stocks
Speaker 1: as a whole ahead of the day morning open and
Speaker 1: May jobs. The indexes are moving lower. We have SMP
Speaker 1: futures down eighteen points, Staff futures down eighty three, Nasdaq
Speaker 1: futures leading the clines this morning, down a hundred one points,
Speaker 1: or about eight tenths of one percent. Ten Your Treasury
Speaker 1: down to thirty seconds yield two point nine. This is
Speaker 1: Bloomberg Bloomberg eleven three oh. Weather. It will turn probably
Speaker 1: mostly sunny today with a high yr seventy five degrees,
Speaker 1: sunshine for the weekend upper seventies tomorrow, low seventies on Sunday.
Speaker 1: Right now sixty three in Central Park. Markets, headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot com,
Speaker 1: Bloomberg Business Out and at Bloomberg Quick Tape. This is
Speaker 1: a Bloomberg Business blash and I'm Karen Moscow future is
Speaker 1: lower this morning. Let's go to the first word breaking
Speaker 1: news dash for today's morning call, and here spill maloney,
Speaker 1: Good morning and good morning, Karen. That's right. US hugues
Speaker 1: are in the red after yesterday's search, with DEAT futures
Speaker 1: down nine points has to be dropped twenty one one.
Speaker 1: Nasadack futures are off by a hundred and fifteen US
Speaker 1: A tenure yield at two point nine, Gold is down four,
Speaker 1: Oil is in the red and bitcoin is training lower
Speaker 1: by one percent. Japan rose one point three percent overnight,
Speaker 1: while europ and markets are trading mixed this morning and
Speaker 1: back in the US on the economic Frinday thirty non
Speaker 1: farm payils and at Services and Composite p m I s.
Speaker 1: After the LS night, r H warned up softer demand,
Speaker 1: Lula Lemon guidance beat estimates, and in other news, Reuters
Speaker 1: reported at Tesla has paused hiring and needs to cut
Speaker 1: staff by ten percent. In deal news, The Wall Street
Speaker 1: German reported last night that Coles received takeover bids from
Speaker 1: Sycamore Partners and Franchise Group. Wrapping things up, Moody's was
Speaker 1: cut the equat to Barkley's. Martin Mary Everett raised overweight
Speaker 1: at JP Morgan and Snowflake was rated a new outperform
Speaker 1: over at Raymond James Live from the First Breaking News
Speaker 1: Desk on Bill Maloney, care right, Bill, thank you, and
Speaker 1: you're like breaking news over her Bloomberg type squawk on
Speaker 1: your terminal scue you a w K and that's a
Speaker 1: Bloomberg business flash. Now here's Michael bar with more on
Speaker 1: what's going on around the world. Michael Karen, thank you
Speaker 1: very much. President Biden, in a primetime address, renewed his
Speaker 1: call for action to stop gun violence in the US.
Speaker 1: Biden called for a ban on the sales of assault weapons.
Speaker 1: The UK Defense Ministry says Russian forces have gained momentum
Speaker 1: one hundred days into the invasion into Ukraine. Moscow is
Speaker 1: pushing to capture the Dunbas region. In Game one of
Speaker 1: the NBA Finals, the Celtics beat the Warriors. After Wednesday's
Speaker 1: when the Rangers host Game two of the NHL East
Speaker 1: Final tonight against the lightning. In baseball, the Yankees won
Speaker 1: a double header against the Angels. The Mets lost along
Speaker 1: with the Nationals, Orioles and Giants. Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quicktake power
Speaker 1: by more than seven hundred journalists and analysts more than
Speaker 1: a hundred twenty countries. Him Michael are in. This is Bloomberg,
Speaker 1: Karen Michael, thank you. At A sixty nine on Wall Street,
Speaker 1: we turned to news and science and technology now with
Speaker 1: a Bloomberg j I T STEMM Report. It is brought
Speaker 1: to you by New Jersey Institute of Technology, one of
Speaker 1: the nation's leading polytechnic universities in a top military friendly school.
Speaker 1: Learn more at n j I T DOT E d
Speaker 1: U slash of veterans. You know here's just making news
Speaker 1: in science, technology, engineering, and math. Apple is said to
Speaker 1: have agreed to make work schedules more flexible at its
Speaker 1: retail stores. According to Bloomberg sources, the company has informed
Speaker 1: staff at some stores that scheduling changes will take effect
Speaker 1: in the coming months. We're told it's part of a
Speaker 1: push to appease employees in the face of unionization efforts.
Speaker 1: After some retail workers voiced frustrations about their schedules. Tesla
Speaker 1: CEO Elon must says the company may have a functioning
Speaker 1: humanoid robot up and running within months, and a tweet
Speaker 1: Must said the electric car makers second a I Day
Speaker 1: has been pushed back to September thirty for that reason.
Speaker 1: Musk has said Tesla's robots could one a need more
Speaker 1: significant than its vehicle business. And Amazon will shut its
Speaker 1: Chinese e bookstore next year, pulling a small but prominent
Speaker 1: business from a market where it's failed to make major
Speaker 1: in roads against local rivals. Amazon's Kindle pull out coincides
Speaker 1: with growing regulatory pressures on both the local and foreign
Speaker 1: companies that operate in China, including censorship and content curbs.
Speaker 1: The company said the withdrawal was not due to government
Speaker 1: pressure or censorship, and as part of a periodic reevaluation
Speaker 1: of its offerings around the world. And that's the Bloomberg
Speaker 1: and j I t Stem Report. Nathan Okay, Karen, thank you.
Speaker 1: We are live from the Bloomberg Interactive Brokers studios, where
Speaker 1: it's almost six fifty one on Wall Street Time Now
Speaker 1: to check what's going on in d C. Some of
Speaker 1: the top stories in our nation's capital include President Biden's
Speaker 1: plea for limits on assault weapons after a wave of
Speaker 1: deadly mass shootings. I believe the majority of you will
Speaker 1: act to turn your outrage into making this issue central
Speaker 1: to your vote. Enough enough enough. Also making news, a
Speaker 1: Democratic bill to address gun violence clearing a House committee,
Speaker 1: and the January six House Panel detailing its plans for
Speaker 1: public hearings starting next week. Bloomberg Government reporter Emily Wilkins
Speaker 1: joins us from on all these stories this morning, after
Speaker 1: that primetime address from President Biden on gun safety. Emily,
Speaker 1: good morning. We did hear some pretty specific proposals from
Speaker 1: the President last night. Is this the kind of thing
Speaker 1: that's going to tip the balance of the debate that's
Speaker 1: underway in Washington? So? I think really the all eyes
Speaker 1: right now are on the Senate, where you do have
Speaker 1: this bipartisan group of senators led by Democrat Chris Murphy
Speaker 1: from Connecticut Republican John Corner from Texas. They are trying
Speaker 1: to figure out if there is some sort of middle
Speaker 1: ground on guns, and they've talked to christ Murphy's kind
Speaker 1: of flagged a couple of different things. Number one, the
Speaker 1: so called red flag laws that prevents those with vilent
Speaker 1: tendencies or who might be a sort of in a
Speaker 1: bad place from owning guns are temporarily possessing them. This
Speaker 1: could also include things like expanded background checks, state storage
Speaker 1: of firearms, school safety upgrades. I think we're really gonna
Speaker 1: get a better understanding of how likely this is next week,
Speaker 1: when senators are actually back and all in DC together.
Speaker 1: So far, the conversations have been happening remotely as all
Speaker 1: of them have been back in their respective states. We
Speaker 1: also saw Democrats pass legislation yesterday that would raise the
Speaker 1: age to purchase some semi automatic rifles from eighteen to
Speaker 1: twenty one. We also saw a New York state legislature
Speaker 1: also approve of bill that would do just that, and
Speaker 1: that is something that Biden called for, So that's another
Speaker 1: potential thing that we could see go through. However, the
Speaker 1: bill that was advanced by a House Democratic paneling yesterday,
Speaker 1: it's it's likely to pass the House, but it's not
Speaker 1: likely to pass the Senate at this point, so there's
Speaker 1: still a question about exactly what legislation is going to
Speaker 1: come through that can move UM. Definitely heard a lot
Speaker 1: of lawmakers on both sides speak up about the need
Speaker 1: to address this in some tangible way, and you heard
Speaker 1: Republicans Senate Minority Leader Mitch McConnell say that he is
Speaker 1: hopeful and optimist stick that something can be done. Yea,
Speaker 1: it is interesting to see the House moving forward on
Speaker 1: this democratic legislation while the Senate negotiations are under way.
Speaker 1: Where do you see as far as this dual track
Speaker 1: going on here in terms of moving something forward. Well,
Speaker 1: I think in the House it's a little bit more
Speaker 1: of a messaging bill, just because we saw a yesterday
Speaker 1: with the Judiciary Committee Democrats moving to approving to move
Speaker 1: this forward and Republicans opposing it, saying that they were
Speaker 1: concerns about the number of restrictions and whether or not
Speaker 1: would actually do anything to prevent mass shootings like the
Speaker 1: ones we've seen in the last few weeks. And so
Speaker 1: it's likely that the House bill it's going to pass,
Speaker 1: the House lawmakers are going to be able to return
Speaker 1: their constituents say we did do something. But I think
Speaker 1: in terms of actually having legislation that's going to pass,
Speaker 1: that's really going to be something that we need to
Speaker 1: see in the Senate. Can they get an actual bill
Speaker 1: and can that bill get their support of ten Republicans,
Speaker 1: And as we heard from the President last night, he's
Speaker 1: telling voters that he hopes that this issue spurs them
Speaker 1: to go to the polls in November. Are we getting
Speaker 1: any indication that this is the kind of issue that
Speaker 1: we could affect the balance of power in Congress when
Speaker 1: we get to those midterm elections. I mean, this is
Speaker 1: certainly something that Democrats are going to be using in
Speaker 1: their messaging as we get closer to November. Um, and
Speaker 1: it's certainly something that voters care about. The question, of course,
Speaker 1: is that you look at the big picture here and
Speaker 1: there aren't a lot of voters who simply vote for
Speaker 1: gun control. Gun rights, yes, gun control not so much.
Speaker 1: And you're going to also see people consider the gut
Speaker 1: price of gas, the price of food, how they feel
Speaker 1: the economy is doing. So they're going to be a
Speaker 1: lot of factors that really weigh into the mid terms.
Speaker 1: It's not really clear at this point that this midterms
Speaker 1: is going to be a referendum on guns, or that
Speaker 1: they're even going to be specific races that will be
Speaker 1: a referendum on guns. Oh, it does seem like we
Speaker 1: are seeing at least some moves that the events surrounding
Speaker 1: January six are going to be put potentially is a
Speaker 1: mid term election issue, with the House panel that's been
Speaker 1: investigating it for nearly a year getting ready for public
Speaker 1: hearings here. Oh absolutely, Nathan, I mean this ties very
Speaker 1: much into the midterms and in Democrats message that Republicans
Speaker 1: really can no longer be trusted by the American people
Speaker 1: after January six. And you've got this panel of lawmakers
Speaker 1: of seven Democrats to Republicans. They've been investigating in January
Speaker 1: six for eleven months now. They've interviewed more than a
Speaker 1: thousand witnesses, but so far everything has been behind closed doors.
Speaker 1: So we're looking at the first public hearing next month.
Speaker 1: It is being held at eight PM. That's a weird
Speaker 1: time for congressional hearing, but it is prime time on television,
Speaker 1: which means that Americans are more likely to actually be
Speaker 1: tuning in for it. A committee officials said that they
Speaker 1: will present previously unseen material and indicated that there is
Speaker 1: evidence that Trump and his associates may have committed crimes
Speaker 1: by attempting to prevent Congress from certifying Biden's victory in
Speaker 1: the electoral College. And what are we expecting a final
Speaker 1: report to come out following these public hearings. Is it
Speaker 1: going to be close to November? It will be. The
Speaker 1: Panels expected to release its full report within a few months,
Speaker 1: and so that puts it kind of in the time
Speaker 1: time frame where we're a little bit past the primaries,
Speaker 1: we're looking at the general and more Americans are actually
Speaker 1: starting to think about the primaries. I think the the
Speaker 1: average American um isn't thinking too much about the mid
Speaker 1: terms still at this point, just because election day is
Speaker 1: is still pretty far away. Bloomberg Government reporter Emily Wilkins
Speaker 1: with us this morning from Washington, d C. As always,
Speaker 1: thanks for the update, and you can read more about
Speaker 1: all these stories on Bloomberg dot com or on the
Speaker 1: Bloomberg terminal, and follow all the latest on Bloomberg Radio
Speaker 1: in Washington Bloomberg and one oh five point seven FM
Speaker 1: HD too. This morning, the focus in Washington will be
Speaker 1: on jobs. The May pay rolls report do out in
Speaker 1: just about an hour and a half. We'll have full
Speaker 1: coverage for the release of the May non farm payrolls
Speaker 1: coming out at eight thirty am Wall Street Time, and
Speaker 1: reaction from Labor Secretary Marty Walsh. It's expected about an
Speaker 1: hour later. We're also gonna bring you comments from President
Speaker 1: Biden as well. He's expected to react to the May
Speaker 1: jobs report later this morning as well from the White House.
Speaker 1: We'll have it all for you live here on Bloomberg Radio.
Speaker 1: Ahead of all that, futures are moving lower. We have
Speaker 1: SMP futures right now down twenty three point, STAFLE futures
Speaker 1: down a hundred fourteen. NASDAC futures are lower by a
Speaker 1: hundred twenty points. The tenure treasury is down to thirty
Speaker 1: seconds yield two point nine. Bitcoin right now trading just
Speaker 1: below thirty thousand dollars. Bloomberg Surveillance up next with Tom Keene,
Speaker 1: Jonathan Farrell, and Lisa Abramowits for Karen Moscow. I'm Nathan Hagar,
Speaker 1: and this is Bloomberg