1 00:00:02,640 --> 00:00:06,400 Speaker 1: Live from the Bloomberg Interactive Brooker Studios is Bloomberg Daybreak 2 00:00:06,440 --> 00:00:10,760 Speaker 1: for Monday, June six. Coming up this shower. Stocks rise 3 00:00:10,840 --> 00:00:13,160 Speaker 1: around the world as we begin a new trading week. 4 00:00:13,200 --> 00:00:16,279 Speaker 1: Oil gains is Saudi Arabia, Racist prices in Asia more 5 00:00:16,320 --> 00:00:19,799 Speaker 1: than expected. President Biden takes executive action to boost the 6 00:00:19,920 --> 00:00:23,120 Speaker 1: U S. Solar industry, and UK Prime Minister Boris Johnson 7 00:00:23,120 --> 00:00:26,160 Speaker 1: faces that key leadership vote. He was a deadly weekend 8 00:00:26,160 --> 00:00:28,880 Speaker 1: of shootings as U S. Senators work on gun reform. 9 00:00:29,000 --> 00:00:32,640 Speaker 1: Plus primary elections take place in seven states tomorrow, including 10 00:00:32,640 --> 00:00:36,640 Speaker 1: New Jersey. I'm Michael Barr. More ahead, I'm John stashon sports. 11 00:00:36,640 --> 00:00:38,800 Speaker 1: A late goal lift in Tampa Bay over the Rangers, 12 00:00:38,800 --> 00:00:41,839 Speaker 1: the Warriors beat the Celtics, wins for the Mets and Yankees. 13 00:00:44,400 --> 00:00:48,360 Speaker 1: That's All's trading ahead on Bloomberg Daybreak on Bloomberg eleven 14 00:00:48,440 --> 00:00:52,920 Speaker 1: three on New York, Bloomberg one, Washington, d C, Bloomberg 15 00:00:52,920 --> 00:00:56,640 Speaker 1: one oh six one, Boston, Bloomberg nine sixties, San Francisco, 16 00:00:57,120 --> 00:01:00,840 Speaker 1: Syrius Exam one nineteen and around the world long Bloomberg 17 00:01:00,920 --> 00:01:07,840 Speaker 1: Radio dot Com and via the Bloomberg Business App. Good morning, 18 00:01:07,840 --> 00:01:11,080 Speaker 1: I'm Karen Moscow. I'm Nathan Hagar. Bloomberg Daybreak is brought 19 00:01:11,120 --> 00:01:14,120 Speaker 1: to you by b n Y Melon, Pershing's Insight conference 20 00:01:14,160 --> 00:01:16,520 Speaker 1: back in person June fifteen through the seventeenth of the 21 00:01:16,560 --> 00:01:19,560 Speaker 1: Gaylord Resort in grape Vine, Texas. Don't miss it. Register 22 00:01:19,680 --> 00:01:23,800 Speaker 1: now at Insights dot b n y Melon dot com 23 00:01:23,840 --> 00:01:26,640 Speaker 1: and Futures This morning on the rise six o one 24 00:01:26,640 --> 00:01:28,880 Speaker 1: on Wall Street, we checked the markets every fifteen minutes 25 00:01:28,920 --> 00:01:31,520 Speaker 1: throughout the trading day on bloomberg S and P Future 26 00:01:31,600 --> 00:01:34,039 Speaker 1: is at forty points now, Futures up two d fifty 27 00:01:34,080 --> 00:01:37,000 Speaker 1: two and nasday futures up one hundred sixty one. The 28 00:01:37,080 --> 00:01:40,120 Speaker 1: decks in Germany's up nine tenths of a percent. The 29 00:01:40,319 --> 00:01:43,800 Speaker 1: tenure Treasury is down seven thirty seconds to yield is 30 00:01:43,840 --> 00:01:45,840 Speaker 1: at two point on six percent of the yield on 31 00:01:45,920 --> 00:01:49,280 Speaker 1: the two year two point six eight percent. Nathan, Well, Karen, 32 00:01:49,320 --> 00:01:51,160 Speaker 1: we are seeing this lift in markets as we begin 33 00:01:51,200 --> 00:01:53,640 Speaker 1: a new trading week and helping to boost sentiment in 34 00:01:53,800 --> 00:01:58,320 Speaker 1: Asia Beijing reopening further from COVID restrictions. Let's get the 35 00:01:58,360 --> 00:02:01,840 Speaker 1: recap from Bloomberg's Juliette sal in Singapore. Morning. Juliet, Good morning, 36 00:02:01,920 --> 00:02:04,800 Speaker 1: Nathan and Karen, Japanese equities are raised earlier losses, and 37 00:02:04,880 --> 00:02:07,920 Speaker 1: Texas rose in Hong Kong following the long weekend, this 38 00:02:08,120 --> 00:02:10,680 Speaker 1: after a gauge of Chinese companies traded in the US 39 00:02:10,720 --> 00:02:13,760 Speaker 1: had risen two percent of the two trading sessions that 40 00:02:13,840 --> 00:02:17,160 Speaker 1: Hong Kong had been closed. Stocks in Maitland China advanced 41 00:02:17,160 --> 00:02:20,480 Speaker 1: as Beijing ease back COVID nineteen restrictions, also lifting the 42 00:02:20,480 --> 00:02:23,680 Speaker 1: on Choi one. Australian stocks fell, bucking the trend ahead 43 00:02:23,680 --> 00:02:27,840 Speaker 1: of an expected second consecutive interest rate increased Tuesday, whilstwiss 44 00:02:27,880 --> 00:02:31,240 Speaker 1: Bank Ubs said buying the Assi Dolla is a phenomenal 45 00:02:31,280 --> 00:02:35,400 Speaker 1: trade in Singapore. Juliette Sally Bloomberg Daybreak a right Juliet, 46 00:02:35,400 --> 00:02:37,359 Speaker 1: thank you all. Oil also on the rise this morning, 47 00:02:37,400 --> 00:02:40,280 Speaker 1: approaching a hundred twenty dollars of barrel. Saudi Arabia is 48 00:02:40,320 --> 00:02:43,800 Speaker 1: signaling confidence and demand for oil. The kingdom raised prices 49 00:02:43,840 --> 00:02:47,400 Speaker 1: more than expected for Asian customers again. More from Bloomberg 50 00:02:47,400 --> 00:02:51,080 Speaker 1: Markets Live editor Heather burg Sad Arabia signal competence with 51 00:02:51,120 --> 00:02:54,320 Speaker 1: the demand um with the bigger than expected price increase 52 00:02:54,360 --> 00:02:58,480 Speaker 1: of its crude for Asia, and overall we're seeing improving 53 00:02:58,480 --> 00:03:02,040 Speaker 1: demand picture. Um, we're heading into peak summer driving season, 54 00:03:02,600 --> 00:03:05,440 Speaker 1: and also in China, which is the top crude buyer. 55 00:03:05,600 --> 00:03:09,120 Speaker 1: They um, they continue to ease COVID restrictions, we should 56 00:03:09,120 --> 00:03:12,760 Speaker 1: also help the demand side of oil and Bluebear Markets 57 00:03:12,760 --> 00:03:15,680 Speaker 1: Line editor Heather Berg says oil has rallied almost sixty 58 00:03:16,160 --> 00:03:19,160 Speaker 1: this year. Checking prices right now, nine NX screwded oil 59 00:03:19,639 --> 00:03:22,440 Speaker 1: up eight tens per center cents and a hundred nineteen 60 00:03:22,440 --> 00:03:24,919 Speaker 1: dollars eighty cents of barrel and brent is up eight 61 00:03:24,919 --> 00:03:28,600 Speaker 1: tens percent at a D twenty seventy three cents. Rising 62 00:03:28,600 --> 00:03:32,280 Speaker 1: oil prices have certainly been a major factor in inflation increases. 63 00:03:32,360 --> 00:03:35,720 Speaker 1: Karen and now President Biden's Commerce chief Gena Romando, says 64 00:03:35,960 --> 00:03:38,400 Speaker 1: it may make sense to lift tariffs on some imported 65 00:03:38,400 --> 00:03:42,760 Speaker 1: products help ease higher prices steel and aluminum. We've decided 66 00:03:42,800 --> 00:03:45,200 Speaker 1: to keep some of those tariffs because we need to 67 00:03:45,240 --> 00:03:48,360 Speaker 1: protect American workers and we need to protect our our 68 00:03:48,400 --> 00:03:51,600 Speaker 1: steel industry. That's a matter of national security. There are 69 00:03:51,640 --> 00:03:56,480 Speaker 1: other products, um, you know, household goods, bicycles, etcetera. Uh, 70 00:03:56,680 --> 00:03:59,560 Speaker 1: and it may make sense. Commerce Secretary Gena Romando made 71 00:03:59,560 --> 00:04:02,560 Speaker 1: the comments on CNN over the weekend, we all straight 72 00:04:02,680 --> 00:04:05,680 Speaker 1: bracing for a key report on inflation. Nathan. We get 73 00:04:05,680 --> 00:04:08,600 Speaker 1: the story from Bloombergy's Vinny del ju Dice. The Labor 74 00:04:08,640 --> 00:04:12,040 Speaker 1: Department will issue May's consumer price index on Friday. Economists 75 00:04:12,080 --> 00:04:14,480 Speaker 1: say that you over your inflation rate will continue near 76 00:04:14,560 --> 00:04:17,960 Speaker 1: historic levels, copping eight percent. A major driver in May 77 00:04:18,160 --> 00:04:21,360 Speaker 1: record petroleum costs in addition to the sustained run up 78 00:04:21,360 --> 00:04:25,040 Speaker 1: another household stables. Also on this week's data agenda, University 79 00:04:25,040 --> 00:04:28,279 Speaker 1: of Michigan figures on consumer sentiment. Sentiment has been running 80 00:04:28,320 --> 00:04:32,159 Speaker 1: low as the quest of living runs Highnce Bloomberg day Break, 81 00:04:32,160 --> 00:04:34,680 Speaker 1: All right, Vinny, thank you. As the Fed remains focused 82 00:04:34,680 --> 00:04:37,719 Speaker 1: on fighting inflation, we are getting word from Goldman Sachs 83 00:04:37,800 --> 00:04:40,680 Speaker 1: that the US economy remains on a narrow path to 84 00:04:40,760 --> 00:04:42,840 Speaker 1: a soft landing. Let's get more on that line from 85 00:04:42,839 --> 00:04:45,719 Speaker 1: Bloomberg's You Need a Young Good Morning, Grened a good morning, Nathan. 86 00:04:45,839 --> 00:04:49,920 Speaker 1: Goldman says improving inflation numbers and other factors suggests that 87 00:04:49,960 --> 00:04:52,400 Speaker 1: the Fed may be able to pull off its aggressive 88 00:04:52,480 --> 00:04:55,720 Speaker 1: rate hike plan without tipping the country into a recession. 89 00:04:56,160 --> 00:04:59,880 Speaker 1: Goldman economists say sequential core inflation appears to be slowing 90 00:05:00,200 --> 00:05:03,160 Speaker 1: and pressures on the supply chain are improving, even as 91 00:05:03,200 --> 00:05:06,599 Speaker 1: signs of softening in the job market emerges. Now, the 92 00:05:06,640 --> 00:05:10,039 Speaker 1: economists say, while the deterioration and indicators like the first 93 00:05:10,080 --> 00:05:14,760 Speaker 1: quarters GDP contractions suggest near term recession risks has increased, 94 00:05:15,120 --> 00:05:18,960 Speaker 1: other measures show output is expanding. Live in New York, 95 00:05:19,040 --> 00:05:21,480 Speaker 1: I'm reneed a young Bloomberg day break right re need 96 00:05:21,480 --> 00:05:23,320 Speaker 1: to thank you. At least a half a dozen central 97 00:05:23,360 --> 00:05:26,159 Speaker 1: banks are expected to raise interest rates this week. Meanwhile, 98 00:05:26,200 --> 00:05:29,359 Speaker 1: the European Central Bank is predicting to finally join the 99 00:05:29,400 --> 00:05:34,039 Speaker 1: global tightening bandwagon, with policymakers on Thursday expected to announce 100 00:05:34,040 --> 00:05:36,640 Speaker 1: it and to bond purchases and formally begin the countdown 101 00:05:36,720 --> 00:05:39,840 Speaker 1: to an increase in borrowing costs in July. While staying 102 00:05:39,880 --> 00:05:42,440 Speaker 1: in Europe, care in the future of Boris Johnson is 103 00:05:42,480 --> 00:05:45,159 Speaker 1: in focus as he faces a leadership vote in his 104 00:05:45,240 --> 00:05:47,800 Speaker 1: ruling Conservative Party. Let's go to London and get the 105 00:05:47,880 --> 00:05:50,840 Speaker 1: very latest with Bloomberg's human pots. Good morning and good morning, 106 00:05:50,920 --> 00:05:53,720 Speaker 1: Nathan and Karen. After months of speculation, at eight a m. 107 00:05:53,839 --> 00:05:56,120 Speaker 1: Outside the British House of the Parliament, it was announced 108 00:05:56,160 --> 00:05:58,120 Speaker 1: that the Prime Minister is the face of votes of 109 00:05:58,160 --> 00:06:01,679 Speaker 1: confidence in his leadership. This after more than fifteen percent 110 00:06:01,760 --> 00:06:05,039 Speaker 1: of lawmakers from Boris Johnson's own Conservative party called for 111 00:06:05,080 --> 00:06:07,640 Speaker 1: the votes. The pms be under five for a series 112 00:06:07,680 --> 00:06:11,119 Speaker 1: of the legal gatherings at Downing Street during the COVID lockdowns. 113 00:06:11,160 --> 00:06:13,840 Speaker 1: The votes on Johnson's future will conclude at eight p m. 114 00:06:14,040 --> 00:06:16,400 Speaker 1: London time, and he needs the supports of at least 115 00:06:16,400 --> 00:06:19,520 Speaker 1: half of lawmakers to keep his position in London. Immune 116 00:06:19,520 --> 00:06:21,680 Speaker 1: Parts spoombook, debreak here and thank you back here. In 117 00:06:21,680 --> 00:06:24,719 Speaker 1: the US, President Biden will take executive action to boost 118 00:06:24,760 --> 00:06:28,160 Speaker 1: the US solar industry. Bloombergs Amy Morris has detailed Stoomer 119 00:06:29,000 --> 00:06:33,240 Speaker 1: newsroom in Washington. Sources tell Bloomberg News the President plans 120 00:06:33,279 --> 00:06:36,560 Speaker 1: to invoke the Defense Production Act to provide support for 121 00:06:36,760 --> 00:06:40,320 Speaker 1: US made solar panels, while announcing a two year halt 122 00:06:40,440 --> 00:06:44,000 Speaker 1: on new solar tariffs now that would allow domestic developers 123 00:06:44,160 --> 00:06:47,720 Speaker 1: to use the foreign equipment while US manufacturing ramps up. 124 00:06:48,040 --> 00:06:50,160 Speaker 1: The White House is also said to use the federal 125 00:06:50,200 --> 00:06:54,560 Speaker 1: government's purchasing power to help support American clean energy manufacturers. 126 00:06:54,880 --> 00:06:58,200 Speaker 1: The announcement could come as early as today. In Washington. 127 00:06:58,320 --> 00:07:00,880 Speaker 1: I'm Amy Morris Bloomberg debrisk okay me thank you? In 128 00:07:00,920 --> 00:07:04,240 Speaker 1: Starbucks is looking at external candidates only for its next CEO. 129 00:07:04,440 --> 00:07:06,760 Speaker 1: That's according to interim chief Howard Schultz, who tells the 130 00:07:06,760 --> 00:07:09,120 Speaker 1: Wall Street Journal the coffee chain needs to add new 131 00:07:09,200 --> 00:07:12,120 Speaker 1: talent and skills to its leadership ranks. Schultz is in 132 00:07:12,160 --> 00:07:14,600 Speaker 1: his third stint running Starbucks. He says he is not 133 00:07:14,680 --> 00:07:17,960 Speaker 1: a candidate for the full time job. And you're listening 134 00:07:18,200 --> 00:07:24,280 Speaker 1: to Bloomberg Daybreak for it sounds six o seven on 135 00:07:24,320 --> 00:07:27,520 Speaker 1: Wall Street, sixty four degrees in Central Park, and we've 136 00:07:27,520 --> 00:07:30,200 Speaker 1: got a crash on the upbound upper level of the 137 00:07:30,240 --> 00:07:32,840 Speaker 1: George Washington Ridge. Details coming up in traffic. First Michael 138 00:07:32,840 --> 00:07:34,520 Speaker 1: bar with more on what's going on in New York 139 00:07:34,600 --> 00:07:36,920 Speaker 1: and around the world. Good morning, Michael, Good morning Nathan. 140 00:07:36,960 --> 00:07:39,440 Speaker 1: A deadly weekend of shootings in the US and several 141 00:07:39,480 --> 00:07:42,960 Speaker 1: states left about a dozen people dead. In Philadelphia, three 142 00:07:43,000 --> 00:07:46,360 Speaker 1: people were killed and eleven wounded into shooting. Philadelphia Police 143 00:07:46,360 --> 00:07:49,360 Speaker 1: Commissioner Daniel Outlaw says they are looking for the shooter 144 00:07:49,400 --> 00:07:52,040 Speaker 1: who fled on foot. We're working with our local, state 145 00:07:52,080 --> 00:07:54,520 Speaker 1: and federal partners to make sure that no lead is 146 00:07:54,600 --> 00:07:59,400 Speaker 1: lost and that no stone remains unturned. Commissioner Outlaws has 147 00:07:59,440 --> 00:08:03,400 Speaker 1: Authorities are offering a twenty dollar reward for information leading 148 00:08:03,440 --> 00:08:06,480 Speaker 1: to the arrest of the shooter. Shooting near a Chattanooga 149 00:08:06,600 --> 00:08:09,679 Speaker 1: nightclub left three dead. Police say four team were shot 150 00:08:09,720 --> 00:08:13,239 Speaker 1: and three others were hit by vehicles. Chattanooga Mayor Tim Kelly, 151 00:08:13,440 --> 00:08:16,160 Speaker 1: are there an avid hunter and a marksman all my life? 152 00:08:16,400 --> 00:08:18,600 Speaker 1: And I want to say clearly a fully responsible I 153 00:08:18,640 --> 00:08:23,240 Speaker 1: fully support rather responsible gun ownership. The Congress needs to 154 00:08:23,240 --> 00:08:26,520 Speaker 1: do their jobs and past common sense regulations that will 155 00:08:26,560 --> 00:08:30,120 Speaker 1: help stop this nonsense. Mayor Kelly implored parents to keep 156 00:08:30,200 --> 00:08:33,280 Speaker 1: track of their children, especially if they suspect they carry 157 00:08:33,320 --> 00:08:36,600 Speaker 1: guns mean while bipartisan group of U. S senators say 158 00:08:36,679 --> 00:08:39,680 Speaker 1: gun talks are innching forward, though a deal is far 159 00:08:39,720 --> 00:08:43,000 Speaker 1: from assured. Officials fear more than fifty people were killed 160 00:08:43,040 --> 00:08:46,880 Speaker 1: in southwestern Nigeria when gunmen burst into a Catholic church 161 00:08:47,040 --> 00:08:51,840 Speaker 1: during mass, opening fire and deadenating explosives. Primary elections in 162 00:08:51,880 --> 00:08:55,079 Speaker 1: New Jersey and six other states take place tomorrow. It 163 00:08:55,160 --> 00:08:57,560 Speaker 1: will set the stage for US House and Send It 164 00:08:57,600 --> 00:09:00,480 Speaker 1: battles this fall and will play into cont troll of 165 00:09:00,559 --> 00:09:05,439 Speaker 1: Congress In New Jersey's GOP primary, Tom Malinowski won by 166 00:09:05,480 --> 00:09:08,240 Speaker 1: fewer than two percentage points in twenty and his district 167 00:09:08,559 --> 00:09:12,480 Speaker 1: has become slightly more Republican since new congressional district lines 168 00:09:12,760 --> 00:09:16,160 Speaker 1: were set last year. I'll see your eight and match it. 169 00:09:16,360 --> 00:09:19,200 Speaker 1: The US and South Korea launched eight missiles into the 170 00:09:19,240 --> 00:09:23,520 Speaker 1: Sea of Japan today in response to North Korea. Yesterday, 171 00:09:23,600 --> 00:09:27,280 Speaker 1: the North test fired eight missiles as well into the sea. 172 00:09:27,640 --> 00:09:30,760 Speaker 1: The South's military says he wanted to demonstrate the allies 173 00:09:30,800 --> 00:09:35,280 Speaker 1: immediate precision strike capabilities and readiness to use them. Alec 174 00:09:35,360 --> 00:09:38,560 Speaker 1: john Such, the basis and founding member of the iconic 175 00:09:38,640 --> 00:09:41,600 Speaker 1: rock band Bon Jovias, died. He was the new Jersey 176 00:09:41,679 --> 00:09:46,000 Speaker 1: rock bands basis. From three to Alec John Such was 177 00:09:46,040 --> 00:09:49,080 Speaker 1: seventy global news twenty four hours a day on air 178 00:09:49,200 --> 00:09:52,240 Speaker 1: and on Bloomberg quittake power by more than twenty seven 179 00:09:52,320 --> 00:09:54,720 Speaker 1: hundred journalists and analysts more than a hundred twenty countries. 180 00:09:55,000 --> 00:10:02,719 Speaker 1: Michael barn this is Bloomberg, Nathan. Thanks Michael six O 181 00:10:02,880 --> 00:10:04,959 Speaker 1: nine on Wall Street time for the Bloomberg Sports Update 182 00:10:05,000 --> 00:10:07,800 Speaker 1: with John Stashow x Nathan. Rangers fans probably did not 183 00:10:07,960 --> 00:10:11,520 Speaker 1: realistically expect that series sweep of Tampa Bayo. They likely 184 00:10:11,559 --> 00:10:13,600 Speaker 1: head to their minds. When the Rangers scored two power 185 00:10:13,600 --> 00:10:15,720 Speaker 1: play goals in the second period, they led game three 186 00:10:15,760 --> 00:10:18,120 Speaker 1: to nothing, but the Lightning came back a couple of 187 00:10:18,120 --> 00:10:19,760 Speaker 1: power play goals of their own, and then in the 188 00:10:19,880 --> 00:10:23,280 Speaker 1: final minute, the first and only five on five goal 189 00:10:23,320 --> 00:10:26,120 Speaker 1: of the game goes shoot stay by the circuit pre 190 00:10:26,200 --> 00:10:28,880 Speaker 1: bound to turn at right point let point head been 191 00:10:29,559 --> 00:10:37,839 Speaker 1: class speed f f l A and Tampa. The goal 192 00:10:37,880 --> 00:10:40,200 Speaker 1: came in only forty two seconds remaining. The Lightning won 193 00:10:40,240 --> 00:10:42,200 Speaker 1: three two and the Rangers now leading series to one. 194 00:10:42,760 --> 00:10:46,120 Speaker 1: Game four tomorrow, Game two of the NBA Finals, Warriors 195 00:10:46,720 --> 00:10:49,080 Speaker 1: dominated the third quarter. That was the difference. They beat 196 00:10:49,080 --> 00:10:51,240 Speaker 1: the Celtics one oh seven to eighty eight to tie 197 00:10:51,280 --> 00:10:54,120 Speaker 1: the series at one. Quinn Snyder resigned after eight years 198 00:10:54,120 --> 00:10:56,600 Speaker 1: as the coach of the Utah Jazz. Matt's in l 199 00:10:56,640 --> 00:10:58,480 Speaker 1: A trailed early and then scored three runs of the 200 00:10:58,480 --> 00:11:00,400 Speaker 1: eighth inning. They were one out from victory the bottom 201 00:11:00,400 --> 00:11:02,839 Speaker 1: of the nine when the Dodgers tied the game. That's 202 00:11:02,840 --> 00:11:05,439 Speaker 1: still won five, four and ten, and they gained a 203 00:11:05,559 --> 00:11:07,719 Speaker 1: split of the four games set after they dropped the 204 00:11:07,720 --> 00:11:10,640 Speaker 1: first two. They played tonight in San Diego Yankees are 205 00:11:10,640 --> 00:11:13,200 Speaker 1: off a like. The Mets also won five four in 206 00:11:13,400 --> 00:11:15,760 Speaker 1: tenantings after Detroit tied the game and the eighth of 207 00:11:15,840 --> 00:11:18,600 Speaker 1: Josh Donaldson sacked fly in the tenth, and the Yanks 208 00:11:18,640 --> 00:11:21,120 Speaker 1: sweep the six game homestand a third of the way 209 00:11:21,120 --> 00:11:23,800 Speaker 1: through the season, the Yankees are thirty nine and fifteen. 210 00:11:23,840 --> 00:11:26,839 Speaker 1: It's the best record any MLB team has had at 211 00:11:26,840 --> 00:11:30,160 Speaker 1: this point in the last twenty one years, making fourteen 212 00:11:30,240 --> 00:11:33,800 Speaker 1: French Open titles for Raffael Nodal twenty two Grand Slams. 213 00:11:33,840 --> 00:11:36,720 Speaker 1: That's two more than Roger Federer and Novak Djokovic. Billy 214 00:11:36,760 --> 00:11:39,880 Speaker 1: Horshaw won Memorial Galpin Ohio by four shots. John stash 215 00:11:39,880 --> 00:11:42,560 Speaker 1: Eller Bloomberg Sports, Nathan Okay, John, thank you right now. 216 00:11:42,679 --> 00:11:45,120 Speaker 1: SMP futures are up forty two point STUN futures up 217 00:11:45,120 --> 00:11:48,120 Speaker 1: two sixty seven, NAZAC future is higher by a hundred 218 00:11:48,120 --> 00:11:50,680 Speaker 1: sixty nine points, and the tenure treasury is down seven 219 00:11:50,720 --> 00:11:53,640 Speaker 1: thirty seconds. The yield just shy of two point nine 220 00:11:53,679 --> 00:11:56,600 Speaker 1: six per cent. More insights on this market as we 221 00:11:56,640 --> 00:11:59,720 Speaker 1: get set for the new trading week. Michael Houston, Chief 222 00:11:59,720 --> 00:12:03,640 Speaker 1: mark an Analyst at CMC Markets joins US next This 223 00:12:03,920 --> 00:12:09,240 Speaker 1: is Bloomberg and Bloomberg Daybreak is brought to you by 224 00:12:09,280 --> 00:12:12,199 Speaker 1: the Jewish Communal Fund JCFS. Don't advised fund is the 225 00:12:12,240 --> 00:12:15,440 Speaker 1: smart choice to manage your philanthropy, especially in times of crisis. 226 00:12:15,520 --> 00:12:18,280 Speaker 1: Make your giving impactful. Visit j c f n Y 227 00:12:18,520 --> 00:12:25,160 Speaker 1: dot org, markets headlines and breaking news twenty four hours 228 00:12:25,160 --> 00:12:28,120 Speaker 1: a day at Bloomberg dot com, the Bloomberg Business at 229 00:12:28,240 --> 00:12:37,559 Speaker 1: and at Bloomberg Quicktake, This is a Bloomberg business flash 230 00:12:38,160 --> 00:12:40,680 Speaker 1: and I'm Karin. Moscow songs in Europe are gaining along 231 00:12:40,679 --> 00:12:43,599 Speaker 1: with US stock index futures as Beijing's latest move to 232 00:12:43,720 --> 00:12:47,120 Speaker 1: use COVID restrictions and checks a note of optimism into 233 00:12:47,160 --> 00:12:51,280 Speaker 1: markets rattled by inflation and rate high concerns treasuries and 234 00:12:51,440 --> 00:12:54,760 Speaker 1: dollar slipping. We checked the markets every fifteen minutes throughout 235 00:12:54,760 --> 00:12:56,800 Speaker 1: the trading day on Bloomberg. Right now, S and P 236 00:12:57,000 --> 00:12:59,880 Speaker 1: futures have forty two points NOWL futures have two D 237 00:13:00,040 --> 00:13:03,000 Speaker 1: sixty three and Nasdaq futures up one hundred sixty nine. 238 00:13:03,280 --> 00:13:06,520 Speaker 1: The decks in Germany's up one percent ten your treasury 239 00:13:06,559 --> 00:13:09,160 Speaker 1: down six thirty seconds. You'll two point nine five percent. 240 00:13:09,200 --> 00:13:11,600 Speaker 1: The yield on the two year two point six eight percent. 241 00:13:12,000 --> 00:13:15,000 Speaker 1: Nimex scrude oil is up half percent, or sixty four cents, 242 00:13:15,000 --> 00:13:17,320 Speaker 1: at a hundred nineteen dollars fifty two cents a barrel. 243 00:13:17,559 --> 00:13:19,960 Speaker 1: Comics schooled up a third per cent, or six dollars 244 00:13:19,960 --> 00:13:23,280 Speaker 1: fifty cents. In eighteen fifty six, seventy announced the euro 245 00:13:23,400 --> 00:13:25,800 Speaker 1: one point oh seven four four against the dollar, British 246 00:13:25,840 --> 00:13:28,319 Speaker 1: found one point two five eight and the end one 247 00:13:28,400 --> 00:13:31,559 Speaker 1: thirty point six eight. Bitcoin this morning is at four 248 00:13:31,600 --> 00:13:34,320 Speaker 1: point nine percent at thirty one thousand, three d eighty 249 00:13:34,360 --> 00:13:37,360 Speaker 1: eight dollars. That's a Bloomberg business flash. Now here's Michael 250 00:13:37,360 --> 00:13:39,720 Speaker 1: Barr with more on what's going on around the world. 251 00:13:39,800 --> 00:13:42,720 Speaker 1: Michael Karen, thank you very much. Boris Johnson could be 252 00:13:42,720 --> 00:13:46,280 Speaker 1: ousted as Britain's Prime minister. He's facing an old confidence 253 00:13:46,360 --> 00:13:49,559 Speaker 1: vote in his Conservative party after he had rule breaking 254 00:13:49,640 --> 00:13:53,760 Speaker 1: parties during the COVID lockdown. Lawmakers in Washington say they're 255 00:13:53,800 --> 00:13:57,680 Speaker 1: more hopeful than ever that bipartisan negotiations on gun reform 256 00:13:57,720 --> 00:14:00,840 Speaker 1: will finally get somewhere me and while the several mass 257 00:14:00,880 --> 00:14:04,520 Speaker 1: shootings over the weekend, the Warriors even the NBA Finals 258 00:14:04,559 --> 00:14:06,880 Speaker 1: that a game of piece after beating the Celtics in 259 00:14:06,960 --> 00:14:10,160 Speaker 1: Game three of the NHL East Final. The Rangers lost 260 00:14:10,160 --> 00:14:13,000 Speaker 1: for the Lightning three too. In baseball, the Yankees and 261 00:14:13,040 --> 00:14:16,079 Speaker 1: Mets one, the Red Sox beat the A's, the Orioles 262 00:14:16,160 --> 00:14:19,520 Speaker 1: lost the Nationals and Giants one. Global News twenty four 263 00:14:19,560 --> 00:14:22,280 Speaker 1: hours a day on air and on Bloomberg Quick Day, 264 00:14:22,600 --> 00:14:25,760 Speaker 1: powered by more than twenty seven hundred journalists and analysts 265 00:14:25,800 --> 00:14:28,360 Speaker 1: in more than a hundred twenty countries. Michael Barr, this 266 00:14:28,360 --> 00:14:31,080 Speaker 1: is Bloomberg. Nathan. Okay, Michael, thank you his six nineteen 267 00:14:31,120 --> 00:14:33,960 Speaker 1: on Wall Street Live from the Bloomberg Interactive Broker Studios. 268 00:14:34,000 --> 00:14:36,400 Speaker 1: This is Bloomberg Daybreak, and just want to pass along 269 00:14:36,400 --> 00:14:39,280 Speaker 1: this spread headline that just crossed the Bloomberg terminal moments ago. 270 00:14:39,560 --> 00:14:43,200 Speaker 1: India in talks to increase Russian oil imports from Rosneft. 271 00:14:43,520 --> 00:14:45,520 Speaker 1: Take a look at how that could impact the crude 272 00:14:45,560 --> 00:14:48,000 Speaker 1: market with West Texas Intermediate right now at a half 273 00:14:48,000 --> 00:14:50,840 Speaker 1: percent or a hundred nineteen dollars forty eight cents a barrel. 274 00:14:50,840 --> 00:14:54,120 Speaker 1: On word that Saudi Arabia could be ready to increase production. 275 00:14:54,160 --> 00:14:56,120 Speaker 1: Will be following that for you throughout the morning here 276 00:14:56,120 --> 00:14:58,760 Speaker 1: on Bloomberg day Break. In the meantime, Michael Houston is 277 00:14:58,760 --> 00:15:02,040 Speaker 1: with us this morning, Chief Mark, an analyst at CMC Markets, 278 00:15:02,120 --> 00:15:04,800 Speaker 1: as we take a look at a risk on start 279 00:15:04,880 --> 00:15:09,520 Speaker 1: to the week. Michael, good morning. Karen mentioned the boosting 280 00:15:09,600 --> 00:15:13,720 Speaker 1: sentiment from China lifting some COVID restrictions. Could this be 281 00:15:13,760 --> 00:15:16,000 Speaker 1: the start of something good for the equity market or 282 00:15:16,040 --> 00:15:19,720 Speaker 1: is this a bear market rally. I still think this 283 00:15:19,800 --> 00:15:22,360 Speaker 1: is potentially a bear market rally. I think nothing at 284 00:15:22,360 --> 00:15:26,280 Speaker 1: the moment has convinced me otherwise. I think the picture 285 00:15:26,320 --> 00:15:29,960 Speaker 1: will become slightly clearer, certainly in the context of whether 286 00:15:30,040 --> 00:15:31,960 Speaker 1: or not inflation is peaked, and I think that is 287 00:15:31,960 --> 00:15:35,400 Speaker 1: probably the overranching narrative at the moment. It's not so 288 00:15:35,520 --> 00:15:38,240 Speaker 1: much whether or not China is starting to unlock. We 289 00:15:38,360 --> 00:15:43,480 Speaker 1: knew that anyway. Um shanghaiing restrictions from the first of June. 290 00:15:44,280 --> 00:15:46,720 Speaker 1: Beijing is starting to do the same thing. I think 291 00:15:46,720 --> 00:15:50,040 Speaker 1: the biggest concern I think as regards the Chinese economy 292 00:15:50,160 --> 00:15:52,520 Speaker 1: is concerned is whether or not we get a V 293 00:15:52,600 --> 00:15:55,360 Speaker 1: shaped rebound there, and I'm not convinced that we can 294 00:15:56,120 --> 00:15:59,400 Speaker 1: given the low vaccination rates of the Chinese population and 295 00:15:59,440 --> 00:16:03,440 Speaker 1: the fact China is still insisting on zero COVID policy. 296 00:16:03,520 --> 00:16:06,800 Speaker 1: So the bigger question is this week's you a CPI 297 00:16:08,000 --> 00:16:11,320 Speaker 1: kind of we hit peak inflation or are we plessoing? 298 00:16:11,800 --> 00:16:15,800 Speaker 1: And obviously what the e CBS intentions are going forward. 299 00:16:15,840 --> 00:16:17,080 Speaker 1: So I think we're in a little bit of no 300 00:16:17,160 --> 00:16:19,720 Speaker 1: man's land uncertainty over the course of the next two 301 00:16:19,720 --> 00:16:22,920 Speaker 1: weeks because no sooner do we get the ECB out 302 00:16:22,960 --> 00:16:26,040 Speaker 1: the way, and obviously we've got the Federal Reserve coming 303 00:16:26,120 --> 00:16:29,600 Speaker 1: up next week as well. So what's your read on 304 00:16:29,680 --> 00:16:32,680 Speaker 1: whether we could be at peak inflation at this point? 305 00:16:32,680 --> 00:16:36,479 Speaker 1: What's your expectation heading into that CPI print coming on Friday. 306 00:16:37,200 --> 00:16:38,840 Speaker 1: If I look at the bond market and I look 307 00:16:38,880 --> 00:16:42,080 Speaker 1: at ten new yields, then certainly I think there is 308 00:16:42,640 --> 00:16:44,800 Speaker 1: a perception on the part of bond markets that we 309 00:16:44,880 --> 00:16:47,480 Speaker 1: have because if you look at the price action and 310 00:16:47,520 --> 00:16:49,920 Speaker 1: you look at the fairly subdued reaction that we saw 311 00:16:50,000 --> 00:16:52,600 Speaker 1: to Friday's payrolls date, for I think as long as 312 00:16:52,640 --> 00:16:56,080 Speaker 1: the ten year yields stays below three that I certainly 313 00:16:56,080 --> 00:17:00,520 Speaker 1: think there is a ability by markets to push the 314 00:17:00,640 --> 00:17:03,200 Speaker 1: SMP higher. If we can get back above four thousand, 315 00:17:03,200 --> 00:17:08,480 Speaker 1: two hundred and bond yields soften, then I think there's 316 00:17:08,520 --> 00:17:12,439 Speaker 1: there's potentially good traction the further gains, but you know, 317 00:17:12,520 --> 00:17:16,960 Speaker 1: let's not let's not get too overenthusiastic about this. We 318 00:17:17,000 --> 00:17:20,320 Speaker 1: are still in a downtrend. We have been in a 319 00:17:20,440 --> 00:17:25,240 Speaker 1: town trend since the end of last year. We can 320 00:17:25,280 --> 00:17:27,600 Speaker 1: go back as far as four thousand, four hundred and 321 00:17:27,680 --> 00:17:31,320 Speaker 1: still for me being a bear market rally. So I 322 00:17:31,320 --> 00:17:34,240 Speaker 1: think there is potential for further upside, but I think 323 00:17:34,240 --> 00:17:36,159 Speaker 1: an awful lot will depend on whether or not the 324 00:17:36,200 --> 00:17:40,000 Speaker 1: Fed goes fifty basis points in September, which is what 325 00:17:40,000 --> 00:17:42,280 Speaker 1: I think what markets are concerned about at the moment, 326 00:17:42,560 --> 00:17:45,399 Speaker 1: in the aftermath of obviously a June and July. If 327 00:17:45,800 --> 00:17:48,280 Speaker 1: basis points right movement, I think the picture will become 328 00:17:48,400 --> 00:17:52,760 Speaker 1: much clearer. Jackson Hall and we do have the SMP 329 00:17:53,000 --> 00:17:57,639 Speaker 1: right now at eight after the Friday close. Uh, Michael, 330 00:17:57,680 --> 00:18:01,120 Speaker 1: we have just about a minute left here. What is 331 00:18:01,320 --> 00:18:05,280 Speaker 1: your feel on whether the Fed is going to continue 332 00:18:05,560 --> 00:18:08,439 Speaker 1: with aggressive rate hikes. It does seem as though the 333 00:18:08,440 --> 00:18:12,400 Speaker 1: markets priced in fifty basis point moves this month and next. 334 00:18:12,520 --> 00:18:15,960 Speaker 1: What should markets be looking for when it comes to 335 00:18:16,200 --> 00:18:19,680 Speaker 1: gaming out whether we could see even more aggressive rate 336 00:18:20,040 --> 00:18:23,439 Speaker 1: tightening in the months to come well. I think if 337 00:18:23,440 --> 00:18:26,080 Speaker 1: we look at pc that has been on the downward 338 00:18:26,119 --> 00:18:30,439 Speaker 1: track since March, I think if this week's CPI and 339 00:18:30,440 --> 00:18:33,400 Speaker 1: them it comes in below eight points, or the core 340 00:18:33,480 --> 00:18:37,120 Speaker 1: prices coming significantly lower, then we could see start price 341 00:18:37,280 --> 00:18:39,480 Speaker 1: We could start to see pricing come out of that 342 00:18:39,560 --> 00:18:42,840 Speaker 1: fifty basis point move that markets are already starting to 343 00:18:42,880 --> 00:18:45,800 Speaker 1: price in. So I think the next few weeks, the 344 00:18:45,840 --> 00:18:48,080 Speaker 1: next couple of weeks are going to be crucial. Softening 345 00:18:48,080 --> 00:18:51,240 Speaker 1: in CPI this week and then see what the Fed 346 00:18:51,320 --> 00:18:53,800 Speaker 1: says with respect to its dot plot and obviously it's 347 00:18:54,040 --> 00:18:57,560 Speaker 1: forward guidance going forward next week. Now very important FED 348 00:18:57,600 --> 00:18:59,920 Speaker 1: meeting coming up next week and at least a half 349 00:19:00,080 --> 00:19:04,560 Speaker 1: dozen central banks expected to join the rate hiking party 350 00:19:04,680 --> 00:19:09,000 Speaker 1: this week alone. Michael Houston, Chief Market Analyst CMC Markets 351 00:19:09,080 --> 00:19:12,280 Speaker 1: as always great to get your thoughts as we get 352 00:19:12,359 --> 00:19:15,880 Speaker 1: ready for another trading week ahead of all that central 353 00:19:15,880 --> 00:19:18,800 Speaker 1: bank action this week and next. Looking ahead to the 354 00:19:18,840 --> 00:19:21,560 Speaker 1: market open, we do have futures moving higher, with SMP 355 00:19:21,760 --> 00:19:24,920 Speaker 1: futures up forty three points or one point one percent down. 356 00:19:25,000 --> 00:19:28,160 Speaker 1: Futures are up two hundred sixty six points, and NAZDAC 357 00:19:28,200 --> 00:19:30,439 Speaker 1: futures are leading the Games this morning up a hundred 358 00:19:30,440 --> 00:19:33,560 Speaker 1: seventy four points. That's a gain of one point four percent. 359 00:19:33,960 --> 00:19:36,439 Speaker 1: Docks in Germany up one percent, the cat in Paris 360 00:19:36,480 --> 00:19:38,480 Speaker 1: up one point one percent, the foot Sea in London 361 00:19:38,560 --> 00:19:41,200 Speaker 1: up one point three percent. Ahead of that confidence vote 362 00:19:41,440 --> 00:19:45,160 Speaker 1: for UK Prime Minister Boris Johnson later today ten Your 363 00:19:45,160 --> 00:19:48,040 Speaker 1: treasuries down six thirty seconds, the yield two point nine 364 00:19:48,119 --> 00:19:50,639 Speaker 1: five percent and the yield on the two year two 365 00:19:50,680 --> 00:19:54,679 Speaker 1: point six seven percent. Just ahead, the Biden administration opens 366 00:19:54,680 --> 00:19:57,840 Speaker 1: the door to lifting some tariffs, and Goldman Sachs sees 367 00:19:57,880 --> 00:20:00,840 Speaker 1: a narrow path to a soft landing. Five things you 368 00:20:00,880 --> 00:20:02,919 Speaker 1: need to know to start your day Coming up on 369 00:20:03,000 --> 00:20:09,159 Speaker 1: Bloomberg Daybreak and Bloomberg Daybreak is brought to you by 370 00:20:09,200 --> 00:20:12,160 Speaker 1: hoff Street University's Frank gz RB School of Business, top 371 00:20:12,240 --> 00:20:15,200 Speaker 1: ranked online MBA program with a real world foundation. Learn 372 00:20:15,240 --> 00:20:18,200 Speaker 1: more at Hofstreed Dot E d U slash go grad. 373 00:20:22,280 --> 00:20:26,800 Speaker 1: Broadcasting live from the Bloomberg Interactive Broker Studio in New York, 374 00:20:26,920 --> 00:20:31,600 Speaker 1: Bloomberg E Living Freedom to Washington, d C, Bloomberg to Boston, 375 00:20:31,680 --> 00:20:34,920 Speaker 1: Bloomberg one O six one to San Francisco, Bloomberg No. 376 00:20:35,200 --> 00:20:38,000 Speaker 1: Sixt to the Country Sirius XM to the one nine 377 00:20:38,040 --> 00:20:40,920 Speaker 1: team and around the globe, the Bloomberg Business at and 378 00:20:41,000 --> 00:20:50,880 Speaker 1: Bloomberg Radio dot com. This is Bloomberg Daybreak hits six 379 00:20:50,920 --> 00:20:53,520 Speaker 1: thirty on Wall Street. Good morning, I'm Nathan Hagar and 380 00:20:53,560 --> 00:20:56,160 Speaker 1: I'm Karen Moscow. We're just about three hours away from 381 00:20:56,160 --> 00:20:58,359 Speaker 1: the open of US trading. Time for the five things 382 00:20:58,480 --> 00:21:00,560 Speaker 1: you need to notice start your day. Brought to you 383 00:21:00,720 --> 00:21:04,160 Speaker 1: by I b k R Investment Advisers switched to Interactive 384 00:21:04,160 --> 00:21:08,240 Speaker 1: Brokers for lowest cost global trading and turnkey custody solutions, 385 00:21:08,240 --> 00:21:10,960 Speaker 1: no ticket charges and no conflicts of your interests at 386 00:21:10,960 --> 00:21:14,600 Speaker 1: I v k R dot com slash r I A first. 387 00:21:14,640 --> 00:21:17,040 Speaker 1: We're seeing a lift in markets to begin a new 388 00:21:17,080 --> 00:21:20,560 Speaker 1: trading week, with a boost from Asia. Beijing is reopening 389 00:21:20,600 --> 00:21:24,600 Speaker 1: further from its COVID restrictions, raising stocks in China. Japanese 390 00:21:24,600 --> 00:21:27,520 Speaker 1: equities are raised earlier losses, and Tex shares rose in 391 00:21:27,640 --> 00:21:30,480 Speaker 1: Hong Kong now also on the rise. This morning. Oil 392 00:21:30,600 --> 00:21:33,520 Speaker 1: karen hovering about around a hundred twenty dollars of barrel. 393 00:21:33,840 --> 00:21:36,879 Speaker 1: This comes to Saudi Arabia, signals confidence in demand for oil. 394 00:21:36,920 --> 00:21:39,760 Speaker 1: The kingdom raised prices more than expected for Asian customers. 395 00:21:40,000 --> 00:21:43,240 Speaker 1: Checking prices now, Nimex cruds up seven tenths per center 396 00:21:43,280 --> 00:21:45,880 Speaker 1: eighty two cents at a hundred nineteen sixty nine cents 397 00:21:45,880 --> 00:21:48,320 Speaker 1: of barrel brent is up seven tenths per cent at 398 00:21:48,320 --> 00:21:50,960 Speaker 1: a hundred twenty dollars fifty three cents. And turning to 399 00:21:51,040 --> 00:21:55,680 Speaker 1: Washington Now, Nathan President Biden's Commerce chief Gina Raimondo says 400 00:21:55,680 --> 00:21:58,879 Speaker 1: the administration is not willing to lift all tariffs on 401 00:21:59,040 --> 00:22:03,240 Speaker 1: imported steel and aluminum right now. We've decided to keep 402 00:22:03,280 --> 00:22:05,840 Speaker 1: some of those tariffs because we need to protect American 403 00:22:05,880 --> 00:22:08,840 Speaker 1: workers and we need to protect our steel industry. That's 404 00:22:08,880 --> 00:22:12,320 Speaker 1: a matter of national security. Commerce Secretary Genna Romando told 405 00:22:12,400 --> 00:22:15,800 Speaker 1: CNN over the weekend that lifting tariffs on other household 406 00:22:15,840 --> 00:22:19,320 Speaker 1: goods may make sense to help ease rising prices, well 407 00:22:19,359 --> 00:22:22,440 Speaker 1: as the Fed AIMCS price hikes. Karen Goldman Sachs says 408 00:22:22,480 --> 00:22:24,680 Speaker 1: the U S economy remains on a narrow path to 409 00:22:24,760 --> 00:22:26,680 Speaker 1: a soft landing. Let's get more on that live from 410 00:22:26,680 --> 00:22:29,000 Speaker 1: Bloomberg's We Need a Young, Good Morning, rena Good Morning. 411 00:22:29,040 --> 00:22:33,360 Speaker 1: Nathan Goldman says improving inflation numbers and other factors suggest 412 00:22:33,400 --> 00:22:35,200 Speaker 1: that the Fed may be able to pull off its 413 00:22:35,200 --> 00:22:39,280 Speaker 1: aggressive rate hip rate hike plan without tipping the country 414 00:22:39,359 --> 00:22:43,880 Speaker 1: into a recession. Economists there's say sequential core inflation appears 415 00:22:43,920 --> 00:22:47,440 Speaker 1: to be slowing and supply chain pressures are improving now, 416 00:22:47,440 --> 00:22:50,680 Speaker 1: Goldman says. While the deterioration and indicators like the first 417 00:22:50,720 --> 00:22:55,560 Speaker 1: quarter GDP suggests near term recession risk has increased, other 418 00:22:55,600 --> 00:22:59,280 Speaker 1: measures show output is still expanding. Live in New York, 419 00:22:59,359 --> 00:23:01,520 Speaker 1: I'm real need a you know, Bloomberg debreaks alright, Redy 420 00:23:01,560 --> 00:23:03,639 Speaker 1: to thank you. At least a half a dozen central 421 00:23:03,640 --> 00:23:06,119 Speaker 1: banks are expected to raise interest rates this week, and 422 00:23:06,160 --> 00:23:08,520 Speaker 1: the European Central Bank is expected to announce it and 423 00:23:08,640 --> 00:23:11,880 Speaker 1: to bond purchases and formally begin the countdown to an 424 00:23:11,920 --> 00:23:15,040 Speaker 1: increase in borrowing costs In July and staying in Europe, 425 00:23:15,080 --> 00:23:17,520 Speaker 1: Karen Boris Johnson will face the leadership vote in his 426 00:23:17,600 --> 00:23:20,760 Speaker 1: ruling Conservative party that could remove him from office. And 427 00:23:20,760 --> 00:23:22,800 Speaker 1: that's the five things you need to notice start your day. 428 00:23:22,840 --> 00:23:26,520 Speaker 1: Brought to you by Interactive Brokers. Futures higher SNP futures 429 00:23:26,520 --> 00:23:28,680 Speaker 1: have forty four points down, futures up two hundred and 430 00:23:28,680 --> 00:23:31,600 Speaker 1: sixty six, NASTAG futures up a hundred eighty two Straight 431 00:23:31,600 --> 00:23:38,560 Speaker 1: ahead your top local headlines. This is Bloomberg. Thanks here 432 00:23:38,640 --> 00:23:40,760 Speaker 1: in six thirty three on Wall Street, sixty four degrees 433 00:23:40,840 --> 00:23:43,280 Speaker 1: in Central Park, looking at our long delays on the 434 00:23:43,320 --> 00:23:45,399 Speaker 1: inbound upper level of the George Washington Bridge with an 435 00:23:45,400 --> 00:23:48,639 Speaker 1: accident there details coming up in traffic. First Michael Barr 436 00:23:48,680 --> 00:23:50,240 Speaker 1: with what else is going on in New York and 437 00:23:50,320 --> 00:23:52,760 Speaker 1: around the world. Good morning, Michael, Good morning Nathan. It 438 00:23:52,800 --> 00:23:55,320 Speaker 1: has been a weekend of shootings in several states that 439 00:23:55,359 --> 00:23:58,399 Speaker 1: have left about a dozen people dead. One shooting in 440 00:23:58,400 --> 00:24:01,880 Speaker 1: Philadelphia left three dead and an other elevant injured. Philadelphia 441 00:24:01,880 --> 00:24:06,240 Speaker 1: Police Commissioner Danielle Outlaw, these incidents have an exponential effect 442 00:24:06,240 --> 00:24:09,679 Speaker 1: on our community, and it not only impacts the individual 443 00:24:10,240 --> 00:24:14,080 Speaker 1: that's been directly victimized, but it victimizes their loved ones, 444 00:24:14,160 --> 00:24:18,040 Speaker 1: their families, and their neighbors neighborhoods all over the world. 445 00:24:18,119 --> 00:24:21,159 Speaker 1: Commissioner Outlaws. As a fight between two males led to 446 00:24:21,200 --> 00:24:24,800 Speaker 1: the shootings, the suspect fled on foot. In Chattanooga, three 447 00:24:24,800 --> 00:24:28,280 Speaker 1: people are dead after a shootout near a nightclub. Meanwhile, 448 00:24:28,440 --> 00:24:31,520 Speaker 1: there are some reports that US senators are injuring towards 449 00:24:31,560 --> 00:24:35,880 Speaker 1: some kind of compromise and movement on gun safety. Bloomberg's 450 00:24:35,880 --> 00:24:39,440 Speaker 1: and Baxter reports a bipartisan group is working in Republican 451 00:24:39,480 --> 00:24:42,879 Speaker 1: Pat Toomey says background checks are on the table, at 452 00:24:42,920 --> 00:24:46,240 Speaker 1: least for commercial sales of firearms. There ought to be 453 00:24:46,240 --> 00:24:49,199 Speaker 1: a background check, so sales at gun shows, sales that 454 00:24:49,240 --> 00:24:52,199 Speaker 1: are advertised over the internet. Toomey has been working with 455 00:24:52,240 --> 00:24:55,080 Speaker 1: Democrat Joe Manchin for years on this, and Toomey on 456 00:24:55,160 --> 00:24:58,160 Speaker 1: CBS has heard here on Bloomberg says the outcome of 457 00:24:58,200 --> 00:25:02,320 Speaker 1: these talks is still uncertain. We are still trying to 458 00:25:02,320 --> 00:25:06,479 Speaker 1: figure out exactly what mechanism is going to enable us 459 00:25:06,520 --> 00:25:08,080 Speaker 1: to get the votes that we would need. But he 460 00:25:08,119 --> 00:25:11,480 Speaker 1: says closer this time in San Francisco, I'm at Baxter 461 00:25:11,600 --> 00:25:14,920 Speaker 1: Bloomberg gave break Primary elections in New Jersey and six 462 00:25:14,920 --> 00:25:17,920 Speaker 1: other states tomorrow will set the stage for US House 463 00:25:17,960 --> 00:25:22,800 Speaker 1: and Senate battles this fall. The New Jersey GOP primary 464 00:25:22,880 --> 00:25:26,760 Speaker 1: has Tom Malinowski he wanted by fewer than two percentage 465 00:25:26,800 --> 00:25:30,879 Speaker 1: points in and his district has become slightly more Republican 466 00:25:31,119 --> 00:25:34,800 Speaker 1: since new congressional district lines were set last year. After 467 00:25:34,880 --> 00:25:39,440 Speaker 1: North Korea test fired eight short range ballistic missile Sunday, 468 00:25:39,560 --> 00:25:42,639 Speaker 1: the US launched to join exercise with South Korea and 469 00:25:42,760 --> 00:25:47,119 Speaker 1: Japan to demonstrate their ability to quickly respond. Today, the 470 00:25:47,200 --> 00:25:51,480 Speaker 1: US military conducted what it called a ballistic missile defense exercise, 471 00:25:51,680 --> 00:25:55,760 Speaker 1: also firing eight missiles into the Sea of Japan. Four 472 00:25:55,840 --> 00:25:58,600 Speaker 1: days of UK celebrations came to an end in London 473 00:25:58,680 --> 00:26:01,760 Speaker 1: last night, commemorating the Queen seventy years on the throne. 474 00:26:02,080 --> 00:26:05,120 Speaker 1: In the surprise, Queen Elizabeth stepped out on the palace 475 00:26:05,119 --> 00:26:08,800 Speaker 1: balcony to the cheers of the Crown. Global News twenty 476 00:26:08,800 --> 00:26:11,600 Speaker 1: four hours a day on air and on Bloomberg Quick Take, 477 00:26:11,840 --> 00:26:14,640 Speaker 1: powered by more than twenty seven hundred journalists and analysts, 478 00:26:14,640 --> 00:26:17,200 Speaker 1: are more than a hundred twenty countries. Michael Barr, this 479 00:26:17,240 --> 00:26:24,840 Speaker 1: is Bloomberg, Nathan, Michael, thanks almost six thirty six on 480 00:26:24,920 --> 00:26:27,639 Speaker 1: Wall Street, John stash Hour because the Bloomberg Sports Update 481 00:26:27,720 --> 00:26:30,040 Speaker 1: bags Nathan. Rangers went down to Tampa having won their 482 00:26:30,160 --> 00:26:32,600 Speaker 1: last four playoff games six and the last seven. They 483 00:26:32,600 --> 00:26:35,680 Speaker 1: had a lead in Game three, yet another power play 484 00:26:35,720 --> 00:26:37,560 Speaker 1: goal for me because advantage ad and shortly after that 485 00:26:37,640 --> 00:26:39,800 Speaker 1: Chris Pryder with a man advantage, but in the rebound 486 00:26:40,160 --> 00:26:42,560 Speaker 1: of his advantage jet Shop at Tampa Bay Guy power 487 00:26:42,600 --> 00:26:45,240 Speaker 1: play goals and Nikita Coop drops second proage Steven stamp 488 00:26:45,280 --> 00:26:48,160 Speaker 1: coos in the third. The Lightning dominated the third period 489 00:26:48,200 --> 00:26:50,400 Speaker 1: big edge and shots on goal. They won three two 490 00:26:50,440 --> 00:26:53,280 Speaker 1: on Andre Polot goal off a nifty pass with coup 491 00:26:53,400 --> 00:26:56,200 Speaker 1: drop only forty two seconds remaining. Rangers still lead the 492 00:26:56,280 --> 00:27:00,239 Speaker 1: series to one game four tomorrow. NBA Finals now tied one. 493 00:27:00,320 --> 00:27:02,800 Speaker 1: Golden State beat Boston one of seven to eighty eight, 494 00:27:02,840 --> 00:27:06,280 Speaker 1: outscored the Celtics. Is the third quarter, thirty five and fourteen. 495 00:27:06,680 --> 00:27:09,000 Speaker 1: Yankees going for a sweep for the homestand of back 496 00:27:09,040 --> 00:27:11,560 Speaker 1: and fourth game with the Tigers tied four four tenth 497 00:27:11,640 --> 00:27:15,360 Speaker 1: and he swung on their clothes keek left field. That's 498 00:27:15,400 --> 00:27:18,399 Speaker 1: gonna win the game. Harold has go back and he 499 00:27:18,600 --> 00:27:22,000 Speaker 1: made the catch on the winning track, tagging his judge. 500 00:27:22,320 --> 00:27:26,960 Speaker 1: He's scores full game over. Yankees win an they've been 501 00:27:27,000 --> 00:27:29,359 Speaker 1: doing a lot of that. A Yankee record of thirty 502 00:27:29,480 --> 00:27:31,560 Speaker 1: nine and fifteen a third of the way through the season. 503 00:27:31,640 --> 00:27:34,680 Speaker 1: That's the best in baseball at this point since two 504 00:27:34,720 --> 00:27:37,560 Speaker 1: thousand one. Mets also won five four that was also 505 00:27:37,680 --> 00:27:39,600 Speaker 1: intend and in after the Dodgers tied the game of 506 00:27:39,680 --> 00:27:42,399 Speaker 1: two of the ninth on SETH Lugo J. D. Davis 507 00:27:42,440 --> 00:27:44,480 Speaker 1: double on the tenth Mets Gata split of the four 508 00:27:44,600 --> 00:27:46,240 Speaker 1: game series in l A. And now they moved down 509 00:27:46,240 --> 00:27:49,320 Speaker 1: to San Diego. When Pete Sampras retired from tennis, not 510 00:27:49,440 --> 00:27:51,760 Speaker 1: that long ago he had the record for most Grand 511 00:27:51,800 --> 00:27:55,040 Speaker 1: Slams one He's now fourth with fourteen, and Raphael the 512 00:27:55,119 --> 00:27:59,000 Speaker 1: Dallas won fourteen French Opens twenty two slams. It was 513 00:27:59,080 --> 00:28:03,600 Speaker 1: fate sets of the impact. John Bloomberg, spoo, alright, John, 514 00:28:03,640 --> 00:28:05,880 Speaker 1: thank you. It is six thirty seven on Wall straight timing. 515 00:28:05,920 --> 00:28:07,200 Speaker 1: How to take a look at stocks, some of the 516 00:28:07,320 --> 00:28:10,359 Speaker 1: names moving in the pre market. Bloomberg Radio and TV 517 00:28:10,520 --> 00:28:14,960 Speaker 1: Markets correspondent Crety Gupta is with us this morning, and createy, 518 00:28:15,119 --> 00:28:17,960 Speaker 1: what would the pre market be without taking a look 519 00:28:18,119 --> 00:28:21,920 Speaker 1: at Tesla um not very exciting apparently, or not really 520 00:28:21,960 --> 00:28:25,360 Speaker 1: a normal morning, I should say. Nevertheless, we are shielded 521 00:28:25,400 --> 00:28:27,960 Speaker 1: from that possibility. Tesla shares of course up three point 522 00:28:28,040 --> 00:28:30,719 Speaker 1: six percent. T s L as your taker, it's all 523 00:28:30,720 --> 00:28:34,000 Speaker 1: about Elon Musk surprise surprise. Remember on Friday he did 524 00:28:34,080 --> 00:28:37,400 Speaker 1: talk about perhaps having a super bad feeling about the economy, 525 00:28:37,680 --> 00:28:41,040 Speaker 1: Reuter's reporting that there's an internal email in which he 526 00:28:41,160 --> 00:28:44,520 Speaker 1: said that he is going to perhaps cut Tesla's task 527 00:28:44,680 --> 00:28:47,720 Speaker 1: force by about ten percent, so a huge number. In 528 00:28:47,760 --> 00:28:50,360 Speaker 1: addition to his quote super bad feeling about the economy, 529 00:28:50,400 --> 00:28:52,880 Speaker 1: of course, we heard that similar sentiment from Jamie Diamond 530 00:28:53,120 --> 00:28:55,479 Speaker 1: as well. That being said over the weekend, he did 531 00:28:55,520 --> 00:29:00,800 Speaker 1: actually say, well, salaried workers um would actually potentially hold 532 00:29:01,000 --> 00:29:03,720 Speaker 1: or their their jobs in terms of their pay, would 533 00:29:03,720 --> 00:29:06,240 Speaker 1: it be flat? They would also perhaps increase headcount. So 534 00:29:06,440 --> 00:29:08,800 Speaker 1: some mixed messages coming out of Tesla here in terms 535 00:29:08,840 --> 00:29:11,480 Speaker 1: of what to actually expect and remember, in some ways, 536 00:29:11,520 --> 00:29:13,600 Speaker 1: Tesla can be this macro bell weather. It can be 537 00:29:13,720 --> 00:29:16,440 Speaker 1: this idea that this is kind of the e V transition. 538 00:29:16,560 --> 00:29:19,200 Speaker 1: This is a company that has a lot of exposure 539 00:29:19,240 --> 00:29:22,200 Speaker 1: not just to the United States naturally, but to China, 540 00:29:22,280 --> 00:29:24,800 Speaker 1: to Berlin as well. So what happens with Tesla and 541 00:29:25,360 --> 00:29:27,920 Speaker 1: its production numbers can actually be somewhat of a bell 542 00:29:27,960 --> 00:29:31,080 Speaker 1: weather for COVID lockdowns or global growth as a whole. 543 00:29:31,240 --> 00:29:33,440 Speaker 1: But also keep in mind, Nathan, it's a heavyweight in 544 00:29:33,520 --> 00:29:36,200 Speaker 1: both the SMPI and the NASTICS, So what happens with 545 00:29:36,280 --> 00:29:39,560 Speaker 1: Tesla can actually affect the entire benchmark, even if you're 546 00:29:39,560 --> 00:29:43,200 Speaker 1: not actively investing in the specific stock itself. Nevertheless, this morning, 547 00:29:43,760 --> 00:29:46,320 Speaker 1: simply that mixed message is a little bit of rebound 548 00:29:46,360 --> 00:29:48,240 Speaker 1: coming from one of its worst days. And I think 549 00:29:48,240 --> 00:29:50,560 Speaker 1: about a year on Friday, T s l A those 550 00:29:50,600 --> 00:29:53,640 Speaker 1: shares are back up shy four percent. Of course, another 551 00:29:53,720 --> 00:29:56,680 Speaker 1: big heavyweight in the indexes is Amazon. They just have 552 00:29:56,840 --> 00:29:59,800 Speaker 1: that big stock split. What's Amazon doing right now? Well, 553 00:29:59,800 --> 00:30:01,959 Speaker 1: A Zone shares are up, and this is no surprise 554 00:30:02,040 --> 00:30:04,440 Speaker 1: here as we talk about you know, stock splits broadly. 555 00:30:04,480 --> 00:30:07,040 Speaker 1: You saw this with Apple shares as well. Amazon though 556 00:30:07,120 --> 00:30:08,760 Speaker 1: not up as much as you would think, only up 557 00:30:08,800 --> 00:30:10,920 Speaker 1: six tenths of one percent, but still higher on the 558 00:30:11,000 --> 00:30:13,320 Speaker 1: day A m Z and it's your taker. And remember 559 00:30:13,480 --> 00:30:15,280 Speaker 1: you need tech on your side to see a little 560 00:30:15,280 --> 00:30:16,920 Speaker 1: bit of a rebound, so to see Tesla up, to 561 00:30:16,920 --> 00:30:19,280 Speaker 1: see Amazon up. Right off the bat, you've got two 562 00:30:19,320 --> 00:30:21,880 Speaker 1: of the big tech heavyweights up, which could actually explain 563 00:30:22,000 --> 00:30:25,600 Speaker 1: why perhaps you're seeing UH futures come back up already 564 00:30:25,640 --> 00:30:27,640 Speaker 1: in pre market trading. Another one to really keep in 565 00:30:27,680 --> 00:30:29,479 Speaker 1: mind here, and I know we're only talking about American tech, 566 00:30:29,520 --> 00:30:31,800 Speaker 1: but we should talk about Chinese tech as well. DD 567 00:30:31,920 --> 00:30:35,520 Speaker 1: global soaring after report that Chinese regulators are about to 568 00:30:35,600 --> 00:30:39,120 Speaker 1: conclude a probe into the company from restore it's apps 569 00:30:39,160 --> 00:30:41,800 Speaker 1: to mobile stores as soon as this week. Of course, 570 00:30:41,880 --> 00:30:43,880 Speaker 1: we know dd has had quite the wild ride in 571 00:30:44,000 --> 00:30:47,840 Speaker 1: terms of delisting, in terms of kind of steaks taken 572 00:30:47,840 --> 00:30:51,960 Speaker 1: by Chinese government, those shares up fifty in the pre market. Nathan, 573 00:30:52,120 --> 00:30:55,600 Speaker 1: whoa big jump there, Bloomberg Radio TV Markets correspondent Creety Goopda, 574 00:30:55,960 --> 00:30:58,520 Speaker 1: as always, thanks for keeping on top of what's happening 575 00:30:58,640 --> 00:31:00,880 Speaker 1: under the hood in the premar market, and as we 576 00:31:00,960 --> 00:31:03,160 Speaker 1: take a look at stocks as a whole, we do 577 00:31:03,280 --> 00:31:06,200 Speaker 1: have futures moving higher, with SMP futures up forty three 578 00:31:06,240 --> 00:31:09,080 Speaker 1: points down, futures up Tune at fifty nine, Nasdaq futures 579 00:31:09,120 --> 00:31:11,320 Speaker 1: up a hundred eighty two points, and the tenure treasury 580 00:31:11,400 --> 00:31:16,400 Speaker 1: yield two point nine five. Stay with us, you're listening 581 00:31:16,640 --> 00:31:24,640 Speaker 1: to Bloomberg Daybreak Bloomberg eleven three oh. Weathers start in 582 00:31:24,640 --> 00:31:26,840 Speaker 1: the week with sunshine and a high your eighty degrees today, 583 00:31:26,920 --> 00:31:30,680 Speaker 1: upper seventies, partly sunny Tomorrow, Showers and storms likely Wednesday, 584 00:31:30,800 --> 00:31:33,720 Speaker 1: with highs back in the upper seventies. Currently sixty four 585 00:31:33,760 --> 00:31:39,960 Speaker 1: in Central Park, markets, headlines and breaking news twenty four 586 00:31:40,000 --> 00:31:43,040 Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business 587 00:31:43,080 --> 00:31:53,080 Speaker 1: at and at Bloomberg Quick Tape. He's a Bloomberg Business lash. Hi, 588 00:31:53,160 --> 00:31:55,760 Speaker 1: I'm Cameron Moscow, and futures are higher this morning. We 589 00:31:55,800 --> 00:31:57,959 Speaker 1: got to the first word breaking news dash for today's 590 00:31:58,000 --> 00:32:01,520 Speaker 1: morning call, and here's Bill Maloney. A good morning, Okay, 591 00:32:01,520 --> 00:32:03,880 Speaker 1: and good morning Karen. That's right. US features are in 592 00:32:03,920 --> 00:32:08,320 Speaker 1: the green, helped by Beijing further easing COVID restrictions. Dof 593 00:32:08,400 --> 00:32:10,880 Speaker 1: you just currently up two and fifty three points SUPs 594 00:32:10,920 --> 00:32:14,520 Speaker 1: game forty four when as deck futures are up by seven, 595 00:32:14,880 --> 00:32:17,480 Speaker 1: the US ten year old at two point nine five percent, 596 00:32:17,600 --> 00:32:20,440 Speaker 1: Gold is up three, oils trading higher, and bitcoin is 597 00:32:20,720 --> 00:32:23,880 Speaker 1: climbing by four point nine percent. Hong Kong roads two 598 00:32:23,920 --> 00:32:27,000 Speaker 1: point seven percent overnight, while up markets are also in 599 00:32:27,080 --> 00:32:29,560 Speaker 1: the green. This morning, back in the US and nothing 600 00:32:29,600 --> 00:32:32,000 Speaker 1: to report on the economic front and in other news, 601 00:32:32,440 --> 00:32:34,840 Speaker 1: d D is up fifty three percent free market on 602 00:32:34,920 --> 00:32:39,000 Speaker 1: a Wall Street Journal report that China will conclude it's probe. Also, 603 00:32:39,080 --> 00:32:42,960 Speaker 1: Amazon trade split adjusted today. Wrapping things up, Lula Lemon 604 00:32:43,080 --> 00:32:45,800 Speaker 1: was raised to market perform ed Bernstein CrowdStrike race to 605 00:32:45,840 --> 00:32:48,600 Speaker 1: avoid at Morgan Stanley and Spotify was raised to outfl 606 00:32:48,680 --> 00:32:52,360 Speaker 1: form over at Raymond James Live from the First Breaking 607 00:32:52,400 --> 00:32:54,560 Speaker 1: News descom Bill Maloney camera, all right, Bill, thank you 608 00:32:54,600 --> 00:32:56,720 Speaker 1: and to hear live breaking news over a Bloomberg type 609 00:32:56,720 --> 00:32:59,160 Speaker 1: squalk on your terminal, sc you a w U K 610 00:32:59,320 --> 00:33:01,520 Speaker 1: and that's a Bloomber in business flash. Now here's Michael 611 00:33:01,560 --> 00:33:03,720 Speaker 1: Barrow with more on what's going on around the world. 612 00:33:03,880 --> 00:33:06,600 Speaker 1: Michael Karen, thank you very much. A possible turning point 613 00:33:06,640 --> 00:33:10,440 Speaker 1: on gun control. After a weekend of mass shootings, US 614 00:33:10,520 --> 00:33:14,400 Speaker 1: lawmakers say they're more hopeful than ever that bipartisan negotiations 615 00:33:14,640 --> 00:33:17,800 Speaker 1: will finally get somewhere. Boris Johnson could be ousked a 616 00:33:17,880 --> 00:33:20,760 Speaker 1: tonight as Britain's Prime Minister. He is facing a no 617 00:33:20,920 --> 00:33:24,400 Speaker 1: confidence vote in his Conservative party after revelations he broke 618 00:33:24,520 --> 00:33:28,239 Speaker 1: COVID lockdown rules. The Warriors even the NBA Finals at 619 00:33:28,240 --> 00:33:30,920 Speaker 1: the Game of Peace. After beating the Celtics Game three 620 00:33:30,960 --> 00:33:33,360 Speaker 1: of the NHL East Final, the Rangers lost to the 621 00:33:33,480 --> 00:33:36,720 Speaker 1: Lightning three two. In baseball, the Yankees and Mets one. 622 00:33:36,800 --> 00:33:39,680 Speaker 1: The Red Sox beat the A's, the Orioles lost the 623 00:33:39,800 --> 00:33:43,120 Speaker 1: Nationals and Giants won Global News twenty four hours a 624 00:33:43,200 --> 00:33:46,160 Speaker 1: day on air and on Bloomberg Quick Take, powered by 625 00:33:46,240 --> 00:33:49,120 Speaker 1: more than twenty seven hundred journalist and analyst in more 626 00:33:49,160 --> 00:33:52,120 Speaker 1: than a hundred twenty countries. I'm Michael barn This is Bloomberg. 627 00:33:52,800 --> 00:33:57,440 Speaker 1: The following commentary is from Bloomberg Opinion. Ted Cruise's anti 628 00:33:57,600 --> 00:34:01,960 Speaker 1: gun elites aren't hiding behind walls than gates. I'm Justin Fox, 629 00:34:02,280 --> 00:34:05,760 Speaker 1: a columnist for Bloomberg Opinion. The elites in society have 630 00:34:05,960 --> 00:34:09,320 Speaker 1: the loudest megaphone when it comes to gun control. Senator 631 00:34:09,400 --> 00:34:13,440 Speaker 1: Ted Cruz declared last month they live in gated neighborhoods 632 00:34:13,800 --> 00:34:17,480 Speaker 1: and have private security. This seemed like a claim worth investigating, 633 00:34:17,880 --> 00:34:20,200 Speaker 1: so I did, and well, I couldn't really figure out 634 00:34:20,280 --> 00:34:22,560 Speaker 1: what the people who lived there think about gun control. 635 00:34:22,680 --> 00:34:26,000 Speaker 1: I did learn the gated communities, along a bugaboo for 636 00:34:26,080 --> 00:34:29,160 Speaker 1: the political left increasingly one for the right, aren't all 637 00:34:29,200 --> 00:34:32,000 Speaker 1: they're cracked up to be. That is, they really were 638 00:34:32,080 --> 00:34:34,760 Speaker 1: a growing phenomenon in the US in the nineteen eighties 639 00:34:34,760 --> 00:34:38,200 Speaker 1: and nineteen nineties, but according to Census Bureau data, the 640 00:34:38,239 --> 00:34:42,080 Speaker 1: boom is fizzled since most homeowners and gated communities make 641 00:34:42,160 --> 00:34:44,520 Speaker 1: less than a hundred thousand dollars a year, and few 642 00:34:44,640 --> 00:34:48,160 Speaker 1: of the nation's richest neighborhoods are enclosed by gates. I'm 643 00:34:48,280 --> 00:34:51,839 Speaker 1: justin Fox. For more opinion, please go to Bloomberg dot com, 644 00:34:52,040 --> 00:34:54,680 Speaker 1: Slash Opinion or O P I n go on the 645 00:34:54,719 --> 00:34:58,920 Speaker 1: Bloomberg terminal. These has been Bloomberg Opinion and Bloomberg Opinion 646 00:34:59,000 --> 00:35:01,520 Speaker 1: commentaries can be and every weekday at this time and 647 00:35:01,640 --> 00:35:04,520 Speaker 1: terminal customers can read more at O P I N 648 00:35:04,800 --> 00:35:07,520 Speaker 1: go at A six fifty on Wall Street. Returned to 649 00:35:07,560 --> 00:35:10,320 Speaker 1: news and science and technology now with the Bloomberg n 650 00:35:10,400 --> 00:35:13,400 Speaker 1: j I T STEM Report. It is brought to you 651 00:35:13,560 --> 00:35:17,280 Speaker 1: by New Jersey Institute of Technology, ranked top fifty national 652 00:35:17,320 --> 00:35:20,319 Speaker 1: public university by US News and World Report and number 653 00:35:20,360 --> 00:35:24,000 Speaker 1: fourteen in the nation on Money's Best Colleges List. Learn 654 00:35:24,080 --> 00:35:25,920 Speaker 1: more at n j I T dot E d U 655 00:35:26,080 --> 00:35:28,960 Speaker 1: and now Here's what's making news and science, Technology, engineering, 656 00:35:29,080 --> 00:35:32,680 Speaker 1: and math. President Biden will take executive action to boost 657 00:35:32,719 --> 00:35:35,799 Speaker 1: the U. S solar industry. Bloomberg News has learned. He'll 658 00:35:35,840 --> 00:35:39,480 Speaker 1: invoke the Defense Production Act to provide support for American 659 00:35:39,600 --> 00:35:42,640 Speaker 1: made solar panels. The President will also announce a two 660 00:35:42,719 --> 00:35:45,600 Speaker 1: year hal to new solar tariffs that would allow domestic 661 00:35:45,640 --> 00:35:49,560 Speaker 1: developers to continue using foreign made equipment while US manufacturing 662 00:35:49,719 --> 00:35:52,760 Speaker 1: ramps up. China has launched a new three person mission 663 00:35:52,800 --> 00:35:56,040 Speaker 1: to complete assembly work on its permanent orbiting space station. 664 00:35:56,400 --> 00:35:59,480 Speaker 1: The launch was broadcast live on state television, indicating a 665 00:35:59,640 --> 00:36:03,320 Speaker 1: rising level of confidence and the capabilities of the space program, 666 00:36:03,560 --> 00:36:06,279 Speaker 1: which has been promoted as a sign of China's technological 667 00:36:06,440 --> 00:36:10,319 Speaker 1: progress and global influence. And new analysis shows staff at 668 00:36:10,440 --> 00:36:13,360 Speaker 1: major banks and some of the world's biggest technology giants 669 00:36:13,600 --> 00:36:19,080 Speaker 1: are increasingly leaving for fintech startups. Bankers, engineers, data scientists, 670 00:36:19,120 --> 00:36:21,840 Speaker 1: and sales staff from Wall Street, the City of London, 671 00:36:21,920 --> 00:36:24,960 Speaker 1: and Silicon Valley are among those joining an exodus that 672 00:36:25,120 --> 00:36:28,360 Speaker 1: picked up speed during the pandemic, according to data compiled 673 00:36:28,440 --> 00:36:32,400 Speaker 1: by Rebellio Labs, a workplace intelligence company, and as the 674 00:36:32,440 --> 00:36:35,680 Speaker 1: Bloomberg and j I T Stem Report. Nathan all Right, Karen, 675 00:36:35,760 --> 00:36:38,600 Speaker 1: thanks rely from the Bloomberg Interactive Brokers Studios. Where it's 676 00:36:38,600 --> 00:36:40,839 Speaker 1: coming up to six fifty two on Wall Street. I'm 677 00:36:40,880 --> 00:36:42,560 Speaker 1: not to check what's going on in d C. Some 678 00:36:42,680 --> 00:36:44,960 Speaker 1: of the top stories in our nation's capital include the 679 00:36:45,000 --> 00:36:48,680 Speaker 1: Biden administration defending of the president's efforts to fight inflation, 680 00:36:49,120 --> 00:36:52,160 Speaker 1: even with gas prices edging close to five dollars a 681 00:36:52,239 --> 00:36:57,600 Speaker 1: gala nationwide, Transportation Secretary Pete Botaje tolls ABC's this week, 682 00:36:57,719 --> 00:37:00,759 Speaker 1: it's up to the oil companies to increase supplying. It's 683 00:37:00,760 --> 00:37:03,760 Speaker 1: been very striking right now to see these oil companies 684 00:37:04,239 --> 00:37:07,640 Speaker 1: who have become almost ridiculously profitable, and you hear these 685 00:37:07,680 --> 00:37:11,080 Speaker 1: oil executives on the record talking about how they're not 686 00:37:11,320 --> 00:37:14,960 Speaker 1: going to increase production. Also making news. Bipartisan Senate talks 687 00:37:15,080 --> 00:37:18,920 Speaker 1: on gun legislation continuing. Pennsylvania Republican pat to me as 688 00:37:18,960 --> 00:37:22,000 Speaker 1: part of the conversations, we all agree that violent criminals 689 00:37:22,120 --> 00:37:26,400 Speaker 1: and and deranged, dangerously mentally ill people shouldn't have firearms. 690 00:37:26,680 --> 00:37:29,680 Speaker 1: So we need a mechanism to increase the likelihood that 691 00:37:29,760 --> 00:37:33,800 Speaker 1: will identify such a person and prevent them from buying 692 00:37:33,880 --> 00:37:36,080 Speaker 1: a gun legally anyway. And Senator to me was on 693 00:37:36,160 --> 00:37:39,480 Speaker 1: CBSS Face the Nation and the House January six committees 694 00:37:39,480 --> 00:37:42,760 Speaker 1: getting ready for prime time hearings this week. Democrat Adam 695 00:37:42,840 --> 00:37:45,879 Speaker 1: Schiff hopes they make an impression on voters, the American people. 696 00:37:45,920 --> 00:37:48,160 Speaker 1: I think no great deal already, there's a great deal 697 00:37:48,200 --> 00:37:51,480 Speaker 1: they haven't seen, but perhaps most important is the public 698 00:37:51,560 --> 00:37:54,600 Speaker 1: hasn't seen it woven together, how one thing led to another, 699 00:37:54,719 --> 00:37:57,319 Speaker 1: how one line of effort to overturn the election led 700 00:37:57,360 --> 00:38:00,319 Speaker 1: to another and ultimately led to terrible violence, the first 701 00:38:00,520 --> 00:38:03,800 Speaker 1: non peaceful transfer of power in our history. Congressman Schiff 702 00:38:03,880 --> 00:38:05,879 Speaker 1: was also on Face the Nation, which you can hear 703 00:38:05,920 --> 00:38:09,200 Speaker 1: every Sunday right here on Bloomberg Radio along with ABC's 704 00:38:09,280 --> 00:38:12,480 Speaker 1: This Week. Bloomberg Government reporter Emily Wilkins is with us 705 00:38:12,520 --> 00:38:15,120 Speaker 1: now for more on all these stories. Emily, while we 706 00:38:15,200 --> 00:38:18,600 Speaker 1: await those primetime hearings from the January six Committee, the 707 00:38:18,640 --> 00:38:22,680 Speaker 1: focus and the Biden administration remains on tackling inflation, at 708 00:38:22,760 --> 00:38:24,480 Speaker 1: least that's what we've been hearing over the last few 709 00:38:24,560 --> 00:38:28,320 Speaker 1: weeks now. But there's some evidence of cracks in that 710 00:38:28,520 --> 00:38:31,279 Speaker 1: United front from some reporting about a new book about 711 00:38:31,320 --> 00:38:35,440 Speaker 1: Treasury Secretary Janet Yellen over the weekend. Tell us more. Yeah, So, 712 00:38:35,560 --> 00:38:38,239 Speaker 1: Bloomberg News reported that a new book coming out of 713 00:38:38,600 --> 00:38:42,200 Speaker 1: a called Empathy Economics by Owen Allman. It's all about 714 00:38:42,280 --> 00:38:45,600 Speaker 1: Jenny Ellen, um but it says that she advocated for 715 00:38:45,800 --> 00:38:49,279 Speaker 1: a smaller rescue plan to for COVID. Remember that was 716 00:38:49,360 --> 00:38:52,919 Speaker 1: a one point nine trillion dollar package proposed by being 717 00:38:53,160 --> 00:38:56,440 Speaker 1: a Biden administration just when Biden had gotten into office, 718 00:38:56,760 --> 00:39:00,719 Speaker 1: and Democrats wound up passing that through UM. At the time, 719 00:39:00,800 --> 00:39:03,040 Speaker 1: it was really held for kind of getting the country 720 00:39:03,200 --> 00:39:06,160 Speaker 1: but helping the country gets back on its feet after COVID. 721 00:39:06,520 --> 00:39:09,279 Speaker 1: But now it's being blamed in part for the rise 722 00:39:09,360 --> 00:39:12,600 Speaker 1: in inflation, saying that that was overspending by the government. 723 00:39:12,920 --> 00:39:16,880 Speaker 1: And this new book suggests that Jenny Yellen, his Treasury secretary, 724 00:39:17,239 --> 00:39:21,399 Speaker 1: did have some initial concerns about that high cost um. 725 00:39:21,840 --> 00:39:24,240 Speaker 1: And now that Jenny Yellen has come out and actually 726 00:39:24,320 --> 00:39:26,759 Speaker 1: said that, you know that that wasn't accurate UM that 727 00:39:26,920 --> 00:39:29,839 Speaker 1: you know, she fully supported the plan, and we did 728 00:39:29,920 --> 00:39:32,400 Speaker 1: see her at the time go ahead and support it. 729 00:39:32,719 --> 00:39:35,200 Speaker 1: But we also do know that there were some concerns 730 00:39:35,360 --> 00:39:40,279 Speaker 1: among economists, most notably Larry Summers, as to exactly the 731 00:39:40,640 --> 00:39:44,440 Speaker 1: overall price of the package UM. And so it's just 732 00:39:44,560 --> 00:39:46,759 Speaker 1: coming out of time where you've already heard Jenny Yellen 733 00:39:46,880 --> 00:39:50,200 Speaker 1: apologized last week UH saying that you know, she initially 734 00:39:50,239 --> 00:39:53,080 Speaker 1: thought that inflation would be more transitory than it was, 735 00:39:53,239 --> 00:39:55,840 Speaker 1: and that of course things like the war in Ukraine, 736 00:39:56,440 --> 00:40:01,520 Speaker 1: additional variants of COVID really wound up changing calculation. Um. 737 00:40:01,600 --> 00:40:04,480 Speaker 1: And she'll be in front of Congress this week also testifying. 738 00:40:04,719 --> 00:40:07,200 Speaker 1: So definitely we'll be keeping an eye out there for 739 00:40:07,320 --> 00:40:11,080 Speaker 1: how she handles questions on inflation. But right now, inflation 740 00:40:11,280 --> 00:40:13,560 Speaker 1: is certainly I think, of of all the headaches that 741 00:40:13,640 --> 00:40:16,440 Speaker 1: President Biden is dealing with, really one one of the 742 00:40:16,520 --> 00:40:20,719 Speaker 1: top ones. Of course, another top headache is this ongoing 743 00:40:21,040 --> 00:40:24,080 Speaker 1: surge in gun violence that's led to this debate in 744 00:40:24,160 --> 00:40:26,680 Speaker 1: the Senate over what to do about it. We had 745 00:40:26,719 --> 00:40:29,880 Speaker 1: another round of shootings over the weekend. Where does that 746 00:40:30,000 --> 00:40:33,320 Speaker 1: debate stand right now? Emily, So this is gonna be 747 00:40:33,360 --> 00:40:35,520 Speaker 1: a really interesting way for that debate anything, because this 748 00:40:35,600 --> 00:40:37,680 Speaker 1: is kind of where the rubber meets the road. A 749 00:40:37,800 --> 00:40:40,200 Speaker 1: lot of the discussions that were going on, particularly the 750 00:40:40,280 --> 00:40:43,760 Speaker 1: bipartisan group headed by Chris Murphy and John Cornyn Democrat 751 00:40:43,800 --> 00:40:46,319 Speaker 1: and a Republican. I mean, they've been meeting, but it's 752 00:40:46,360 --> 00:40:49,880 Speaker 1: all been virtual. Now they're coming back to d C tonight. Um, 753 00:40:49,920 --> 00:40:51,960 Speaker 1: they'll finally be in the same room again. They're going 754 00:40:52,040 --> 00:40:55,360 Speaker 1: to continue to chat and you hear a lot of optimism. 755 00:40:55,440 --> 00:40:57,759 Speaker 1: I mean, Chris Murphy said the group, Um, you know, 756 00:40:57,800 --> 00:41:01,480 Speaker 1: it's closer than ever before on the package of gun measures. Um, 757 00:41:01,560 --> 00:41:03,920 Speaker 1: you've heard think Pat to me in the clip that 758 00:41:04,040 --> 00:41:06,480 Speaker 1: you played, you know, say that there are discussions under 759 00:41:06,520 --> 00:41:08,839 Speaker 1: way and that they're close to any deals they've ever 760 00:41:08,920 --> 00:41:12,040 Speaker 1: been before. But there's still huge questions whether they can 761 00:41:12,080 --> 00:41:14,799 Speaker 1: actually come to an agreement and what that agreement would 762 00:41:14,880 --> 00:41:17,560 Speaker 1: look like. I mean, Republicans say they don't want any 763 00:41:17,640 --> 00:41:20,759 Speaker 1: sort of restrictions on on gun control. Um, that they 764 00:41:20,800 --> 00:41:23,680 Speaker 1: want to focus on mental health and on school safety. 765 00:41:24,000 --> 00:41:25,719 Speaker 1: And there really is a question is that going to 766 00:41:25,800 --> 00:41:28,360 Speaker 1: be enough for Democrats who really want to see some 767 00:41:28,600 --> 00:41:32,719 Speaker 1: action on this after several major mass shootings in the 768 00:41:33,080 --> 00:41:36,320 Speaker 1: past month. Yeah, a lot to look forward to, a 769 00:41:36,400 --> 00:41:39,600 Speaker 1: lot to keep an eye on as Congress gets back 770 00:41:39,840 --> 00:41:43,800 Speaker 1: from its uh Spring recess. Emily Wilkins and Bloomberg Government, 771 00:41:43,880 --> 00:41:46,440 Speaker 1: as always, thanks for keeping us updated on what's happening 772 00:41:46,480 --> 00:41:48,799 Speaker 1: in the nation's capital. You can read much more about 773 00:41:48,840 --> 00:41:51,680 Speaker 1: all these stories on Bloomberg dot com or on the 774 00:41:51,719 --> 00:41:54,200 Speaker 1: Bloomberg terminal, And as a reminder, you can follow all 775 00:41:54,239 --> 00:41:58,320 Speaker 1: the latest on Bloomberg Radio in Washington at Bloomberg and 776 00:41:58,520 --> 00:42:01,920 Speaker 1: one oh five point seven fam h D two. Looking 777 00:42:01,920 --> 00:42:05,480 Speaker 1: ahead to the market open uh China rolling back some 778 00:42:05,600 --> 00:42:08,239 Speaker 1: more of its COVID restrictions looks to be giving a 779 00:42:08,320 --> 00:42:11,920 Speaker 1: boost to equity investors. We've got SMP futures right now 780 00:42:12,080 --> 00:42:14,600 Speaker 1: up forty four points, a gain of one point one percent. 781 00:42:14,719 --> 00:42:17,840 Speaker 1: Down futures are higher by two hundred sixty three points, 782 00:42:17,920 --> 00:42:20,840 Speaker 1: and NASDAC futures leading the games right now one and 783 00:42:20,920 --> 00:42:24,120 Speaker 1: a half percent, up a hundred eighty seven points. Right now, 784 00:42:24,160 --> 00:42:26,799 Speaker 1: the tenure Treasury is down four thirty seconds. The yield 785 00:42:26,840 --> 00:42:29,359 Speaker 1: two point nine four percent on the benchmark tenure note. 786 00:42:29,440 --> 00:42:32,359 Speaker 1: Yield on the two year two point six seven nime 787 00:42:32,480 --> 00:42:34,560 Speaker 1: X screwed is up a half percent, or sixty three 788 00:42:34,640 --> 00:42:37,160 Speaker 1: cents at a hundred nineteen dollars fifty cents of barrel. 789 00:42:37,440 --> 00:42:40,359 Speaker 1: The euro right now one point zero seven two six 790 00:42:40,440 --> 00:42:43,480 Speaker 1: against the dollar. Bloomberg Surveillance up next to Tom Keene, 791 00:42:43,520 --> 00:42:46,480 Speaker 1: Jonathan Faroh, and Lisa brom Bolades for Karen Moscow. I'm 792 00:42:46,520 --> 00:42:48,759 Speaker 1: Nathan Hagar. This is Bloomberg