Speaker 1: Live from the Bloomberg Interacted Berger Studios. This is Bloomberg
Speaker 1: day Break for Wednesday, June one. Coming up this hour,
Speaker 1: Wall Street kicks off a new trading month after May
Speaker 1: saw the SMP five hundreds here on a pair of markets.
Speaker 1: Treasury Secretary Janet Yellen says she got in wrong last
Speaker 1: year on inflation. The FED starts to shrink its eight
Speaker 1: point nine truly the other ballot sheet, and the US
Speaker 1: ramps up military support to Ukraine. New York Governor Holcill
Speaker 1: introduces new gun reform measures, plus the first funerals have
Speaker 1: again for the victims of the Texas school shooting. Gun
Speaker 1: I'm Michael blarn More ahelf. I'm trying Stash Sharon. Sports
Speaker 1: blowout wins at Alton Mets and Yankees Rangers in Lightning
Speaker 1: play Game one at the Garden h tonight. That's all
Speaker 1: stread ahead on Bloomberg day Break on Bloomberg eleven three,
Speaker 1: on New York Bloomberg one, Washington, d C, Bloomberg one
Speaker 1: oh six one, Boston, Bloomberg nine sixties and Francisco Sirius
Speaker 1: x M one nineteen and around the world on Bloomberg
Speaker 1: Radio dot Com and via the Bluebird Business app Index
Speaker 1: futures are mixed this morning. We're coming up to funt
Speaker 1: on one on Wall Street, and we checked the markets
Speaker 1: every fifteen minutes throughout the trading day on bloomberg S
Speaker 1: and P futures up four points down, futures of A
Speaker 1: hundred fifteen, and Nastack futures lower down sixteen. Now the
Speaker 1: ten year treasury down five thirty seconds. They yield two
Speaker 1: point eight six percent, and they yield on the two
Speaker 1: year two point five seven percent, and the euro one
Speaker 1: point seven eight against the dollar. Nathan Caring US stocks
Speaker 1: begin this month of June after coming off a month
Speaker 1: where the SNP five hundred is basically unchanged, but that
Speaker 1: does not explain the extreme volatility. During the month of May,
Speaker 1: the benchmark index surged more than eight percent after falling
Speaker 1: within points of a twenty pcent dropped from a record,
Speaker 1: signifying a bear market. Peter Oppenheimer's chief Global equity strategistic
Speaker 1: Goldman sacks, if you look at history for markets, at
Speaker 1: least when you get pea inflation, you do tend to
Speaker 1: get a recovery in risk assets, and that's generally because
Speaker 1: it starts to alleviate pressures on on interest rates. By
Speaker 1: that stage, you've usually had markets ready pricing in an
Speaker 1: economic downturn. So at the point where people think that
Speaker 1: things are bad but getting less bad, you tend to
Speaker 1: get a recovery. Goldman Sachs. Chief global equity strategist Peter
Speaker 1: Roppenheimer still says he expects markets to be very volatile
Speaker 1: over the next few months, hopping left sentiment this morning,
Speaker 1: Nathan has corporate earning shares a Salesforce up eight percent
Speaker 1: in early trading, the company raising its annual profit forecast,
Speaker 1: and we get more from Bloomberg's Dunk Christner. It signals
Speaker 1: demand for business software is holding up in the face
Speaker 1: of macro economic instability. Salesforce said fiscal year earnings excluding
Speaker 1: some items, will be as much as four dollar seventy
Speaker 1: six cents. Analyst on average estimated annual profit of four
Speaker 1: dollar sixty eight cents. Salesforce is the leader in based
Speaker 1: customer management software now. During the pandemic, the company expanded
Speaker 1: its products for business productivity with the purchase of the
Speaker 1: messaging platform Slack at a price of twenty seven point
Speaker 1: seven billion dollars. In New York, I'm Doug Christener Bloomberg
Speaker 1: Gay Break, Okay, Doug Thanks. Crude oil is also on
Speaker 1: the rise this morning right now trading at a hundred
Speaker 1: sixteen dollar seventeen cents a barrel on the Nmax. This
Speaker 1: comes ahead of an OPEC plus routine meeting tomorrow to
Speaker 1: discuss supply policy. Ed Morris's City Groups global head of
Speaker 1: commodity Research. He says triple digit oil should be a
Speaker 1: lot lower. We have to just look at the cost
Speaker 1: structure of the industry. You have to look at where
Speaker 1: new production is coming and where would be coming even
Speaker 1: if we didn't have a hundred twenty three dollar red
Speaker 1: and I'd say it's more in the seventy dollar range
Speaker 1: than it is in the dwy dollar range, the City
Speaker 1: Groups said. Moore says demand for oil and refined products
Speaker 1: is falling as the economy starts bracing for a recession. Well, Nathan,
Speaker 1: Inflation still a major focus for market's in the top
Speaker 1: political challenge for the White House. Now, Treasury Secretary Janet
Speaker 1: Yellen is admitting she got it wrong last year when
Speaker 1: she said inflation would only be temporary. There have been
Speaker 1: unanticipated and lord shocks to the economy that have boosted
Speaker 1: energy and food prices and um supplied bottle knicks that
Speaker 1: have affected our economy badly that I didn't at the time,
Speaker 1: didn't fully understand, but we recognize that now. And an
Speaker 1: interview as CNN, Secretary Yellen said she's encouraged that core
Speaker 1: prices have started to come down, but she says she
Speaker 1: can't rule out future shocks. What Secretary Yellen was at
Speaker 1: the White House yesterday, Karen for a rare meeting between
Speaker 1: President Biden and FED chair j Powell. President used it
Speaker 1: to declare that he respects the Central banks independence while
Speaker 1: shifting responsibility for taming decades high inflation. I'm not going
Speaker 1: to interfere with their critically important work fetal responsibilities one
Speaker 1: full employment to stable prices. This is President Biden's ward
Speaker 1: in person session with Chairman Palellson's taking office and the
Speaker 1: FED will also be in focus today. Nathan. It's set
Speaker 1: to start shrinking it's eight point nine trillion dollar balance sheet.
Speaker 1: The Central Bank also releases the Beige Book, and we
Speaker 1: get more from Bloomberg's Michael McKee. The question is what
Speaker 1: will investors learn from the Beige Book that they don't
Speaker 1: already know. Are there hints in the anecdotal reports suggesting
Speaker 1: some goods or services are seeing prices level offer decline.
Speaker 1: Will there be any indications the labor market is loosening? Overall?
Speaker 1: The Beige Book is likely to assess the economy continues
Speaker 1: to expand at a moderate pace. That's the phrase the
Speaker 1: Fed usually uses. Consumers are still spending and manufacturers are
Speaker 1: trying to keep up. The survey is one input into
Speaker 1: FED policy decisions, but the Central Bank has already suggested
Speaker 1: it's made up his mind to raise rates at the
Speaker 1: next two meetings. Michael McKee, Bloomberg Daybreak. All right, Mike,
Speaker 1: thanks now the latest developments on the war. President Biden
Speaker 1: says he will give Ukraine advanced rocket systems and other
Speaker 1: weaponry to help in its battle with Russia. Amy Morris
Speaker 1: has details from our Bloomberg room in Washington. The President
Speaker 1: made the announcement in a New York Times article published
Speaker 1: last night. A senior US official hotels Bloomberg News. The
Speaker 1: package includes missiles that will allow Ukraine to strike locations
Speaker 1: as far as eighty kilometers away, and while world leaders
Speaker 1: have publicly called for such a move, one concern is
Speaker 1: whether Ukraine would use them to strike targets inside Russia
Speaker 1: that would risk expanding the war and pulling in NATO countries.
Speaker 1: The White House plans to formally announce the new seven
Speaker 1: hundred million dollar security assistance package today in Washington. I'm
Speaker 1: Amy Morris, Bloomberg Daybreak, Right, Amy, thank you. While President
Speaker 1: Biden will also be addressing the baby formulas shortage in
Speaker 1: the country. The White House said the President will meet
Speaker 1: virtually with infant formula manufacturers this afternoon. We'll finally careen.
Speaker 1: The world's richest man appears to have had it with
Speaker 1: this whole working from home thing. Testla CEO Elon Musk
Speaker 1: weighed in on the debate on Twitter by elaborating on
Speaker 1: an email he apparently sent to the Electric Carmakers executive
Speaker 1: staff under the subject line m work is no longer acceptable.
Speaker 1: Must grote that anyone who wishes to do remote work
Speaker 1: must be in the office for a minimum of forty
Speaker 1: hours per week or depart Tesla S ANDP. Future is
Speaker 1: right now up six points as we get ready to
Speaker 1: kick off the month of June. Straight ahead your latest
Speaker 1: local headlines and the check sports. This is Bloomberg. It's
Speaker 1: now five oh seven on Wall Street, where it's sixty
Speaker 1: degrees in Central Park. Still dealing with a little overnight
Speaker 1: construction on the south end of Jersey Turnpike truck lanes.
Speaker 1: Details coming up in traffic. First Michael Bark with more
Speaker 1: on what's going on in New York and around the world.
Speaker 1: Good morning, Michael, Good morning Nathan. Governor Kathy Oakle introduced
Speaker 1: a new package of gun reformed bills for New York
Speaker 1: State and after mass shootings in Buffalo and Uvaldi. It's
Speaker 1: a total of ten bills that would tighten New York's
Speaker 1: gun laws and close loopholes. Huncle says New York already
Speaker 1: has some of the toughest gun laws in the country,
Speaker 1: but clearly we need to make them even stronger. Among
Speaker 1: the proposed legislation is increased in the minimum age required
Speaker 1: to buy a semi automatic rifle from eighteen to twenty one.
Speaker 1: The victims of last week's mass shooting in a Texas
Speaker 1: grade school are being laid to rest in New Valley.
Speaker 1: The first funerals were held yesterday. A gunman killed nineteen
Speaker 1: children and two teachers. One of those teachers was Ava Morrellus.
Speaker 1: Her sister, Maggie Morrellus. Thomas says she told Governor abbot.
Speaker 1: If he wants to help, he could change the state's
Speaker 1: gun laws. There's no reason why this type of weapon
Speaker 1: should be among us people here. These things belong in
Speaker 1: the war. There's no war in the classroom. There's no
Speaker 1: war out here. Maggie morrellus Thomas says she does not
Speaker 1: want anyone to forget her sister's name. Seventeen other people
Speaker 1: were injured in the shooting. A woman wounded, and in
Speaker 1: April New York City subway shooting is filed a lawsuit
Speaker 1: against gun manufacturer Glock. In her lawsuit, Eileen Stewart says
Speaker 1: Glock endangered the public health and say the for the marketing, distribution,
Speaker 1: and sales of its guns. Ten people were shot and
Speaker 1: wounded as a man fire, dozens of bullets and the
Speaker 1: subway train full of morning commuters. New York was suspending
Speaker 1: its gas tax for the rest of the year. It
Speaker 1: would save sixteen cents per gallant. Joining Connecticut and suspending
Speaker 1: the gas tax. Governor hoc announced the new l I
Speaker 1: Double R terminal in midtown Manhattan will be named Grand
Speaker 1: Central Madison. You're talking about a place as iconic as
Speaker 1: Grand Central. You can't change that. And this conjures up
Speaker 1: the images of glory in a time early nine hundred
Speaker 1: nineteen nineteen twelve, when when the world was stunned by
Speaker 1: the magistrate of this building itself. Governor Hokel says it
Speaker 1: will be completed by the end of this year. Global
Speaker 1: News twenty four hours a day on air and on
Speaker 1: Bloomberg Quittake, powered by more than journalists analysts more than
Speaker 1: a hundred twenty countries. I'm Michael Barrn. This is Bloomberg Nathan. Alright, Michael,
Speaker 1: thank you. We're coming up to five ten on Wall Street.
Speaker 1: Time for the Bloomberg Sports Update, comporting John stash Our Morning, Nathan.
Speaker 1: Mets and Yankees both at home. They won by a
Speaker 1: combined score of nineteen o one. It was ten nothing
Speaker 1: for the Mats over Washington had seventeen hits, Mark Canna
Speaker 1: had four, jeff Rick Meal three home run for Starling
Speaker 1: Marte and edwardo Escobar, and the Mets have won five
Speaker 1: in rows, scoring forty four runs in those five games,
Speaker 1: twenty three runs in the two games so far with
Speaker 1: the Nationals. At day games today at City Fields at
Speaker 1: the Stadium, Yanks over the Angels nine to one, four
Speaker 1: run first inning with the two run over by the
Speaker 1: newest Yank Matt Carpenter, whose a Trevino later with a
Speaker 1: two run shot and twenty of run support for Jordan Montgomery,
Speaker 1: who normally does not get it. He got his first
Speaker 1: win wild start to the Stanley Cup West Finals as
Speaker 1: and Oilers in Denver. They combined for five goals in
Speaker 1: the first period, six more in the second. He has
Speaker 1: led seven to three. It was cut to seven six
Speaker 1: Colorado held on eight six. Don't expect the game like
Speaker 1: that tonight at the Gardeners. The Rangers and Lightning begin
Speaker 1: the East Finals. Two terrific goalies in this series. The
Speaker 1: Rangers igors Just Turkin Tampa Bays Andre Vassilevski. The Ranger
Speaker 1: defenseman is Adam Fox, two of the top goalies obviously
Speaker 1: uh as his traft record speak for itself, but kind
Speaker 1: of does to what he's done this year has been
Speaker 1: Stanley impressive, So definitely two good goal is uh you know,
Speaker 1: coming together and a lot of the Lightning, two time
Speaker 1: defending Stanley Cup champs. They just won their tenth straight series.
Speaker 1: They swept Florida, who was the top seed in the
Speaker 1: East fifty ninth match between Raphael and Ala Novak Djokovic,
Speaker 1: who Natalie leads thirty to twenty nine the Dow one
Speaker 1: in four sets. He's into the semi finals of the
Speaker 1: French Open. John stash Or Bloomberg Sports Nathan all Right, John,
Speaker 1: thanks right now. SMP futures are higher by five points,
Speaker 1: Stole futures up a hundred twenty eight. That's again of
Speaker 1: four tenths percent for the Dow. NASAC features are lower,
Speaker 1: down twelve points. Tenure treasuries down five thirty seconds, the
Speaker 1: yield two point eight six percent. Stay with us. You
Speaker 1: are listening to Bloomberg Daybreak one and three adults, and
Speaker 1: Bloomberg Daybreak is brought to you by p Pack Gladstone Bank.
Speaker 1: At p Pack Gladstone Bank, they believe that all banking
Speaker 1: should be private banking. To learn more, visit pg bank
Speaker 1: dot com. Today, Markets headlines and breaking news twenty four
Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business
Speaker 1: Outland at Bloomberg Quicktape. This is a Bloomberg Business Flash.
Speaker 1: And I'm Karen Moscow and stocks in Europe and US
Speaker 1: stock index futures have been struggling for direction. I'm at
Speaker 1: a debate over the scale of central bank monetary policy
Speaker 1: tightening needed to find inflation. We checked the markets every
Speaker 1: fifteen minutes throughout the trading day on Bloomberg and the futures.
Speaker 1: They're mixed. This morning. S and P futures are up
Speaker 1: six points down, futures of a hundred thirty three and
Speaker 1: nasdec futures down nine. The decks in Germany's up three
Speaker 1: tens of upper sent ten. Your treasury down five thirty seconds,
Speaker 1: YELD two point eight six percent. They yield on a
Speaker 1: two year two point five seven percent nine Max Screwed
Speaker 1: oil is up one point six percent, up a dollar
Speaker 1: eighty three and a hundred sixteen dollars forty nine cents
Speaker 1: of barrel comics. Gold is down one percent, or seventeen
Speaker 1: dollars seventy cents at eighteen thirty seventy announced. The Euro
Speaker 1: one point oh seven one nine against the dollar, British
Speaker 1: pound one point to five eight one, the yen at
Speaker 1: one nine point four zero, and Bitcoin this morning down
Speaker 1: six ten percent at thirty one five nine dollars. Today
Speaker 1: we are watching for reports on construction spending and manufacturing
Speaker 1: at at ten o'clock Wall Street time, along with the
Speaker 1: Jolts jobs report, and the Federal Reserve releases its BIGE
Speaker 1: book at h That's a Bloomberg Business Flash. Now here's
Speaker 1: Michael Barr with more on what's going on around the world. Michael,
Speaker 1: good morning, Good morning, Karen. President Joe Biden said he'll
Speaker 1: give Ukraine advanced rocket systems, another US weaponry to better
Speaker 1: hit targets and its war with Russia. The White House
Speaker 1: plans to announce the new seven hundred million dollar Security
Speaker 1: Assist Its Package today. Since the war began, the US
Speaker 1: has supplied more than four point five billion dollars in
Speaker 1: military aid. The first funerals for victims of last week's
Speaker 1: mass shooting at rob Elementary School began yesterday in Yuvaldi, Texas.
Speaker 1: In baseball, the Yankees one, the met shut out the
Speaker 1: Nationals ten zip the Red Sox Orioles, and A's lost
Speaker 1: the Giants one. In the NHL Eastern Conference Finals, two
Speaker 1: night is Game one as the Rangers host The Lightning
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred
Speaker 1: journalists and analysts in more than a hundred twenty countries.
Speaker 1: I'm Michael Barr and this is Bloomberg. Nathan. All right, Michael,
Speaker 1: thank you. It's five nineteen on Wall Street Line from
Speaker 1: the Bloomberg Interactive Brokers Studios. This is Bloomberg day Break.
Speaker 1: Let's get more now. In that top story, Michael Barr
Speaker 1: just mentioned in the news there President Biden saying he
Speaker 1: will give Ukraine advanced rocket systems seven hundred million dollars
Speaker 1: in new military assistance on top of the more than
Speaker 1: four billion that's all ready been committed. Now the the
Speaker 1: Ukraine War is into its fourth month. Julie Norman joins
Speaker 1: US now co director of the Center for US Politics
Speaker 1: at University College London, Professor, It's always good to speak
Speaker 1: with you. Thanks for being with us. This new assistance
Speaker 1: that President Biden is promising, will it be enough to
Speaker 1: turn the tide in this war? Well, good morning, Nathan.
Speaker 1: And obviously Zelinski has been pushing the West for higher
Speaker 1: level of weapons systems from the beginning. This is a
Speaker 1: weapon system that should help, especially in the offenses in
Speaker 1: the East where there's been kind of the ongoing slug
Speaker 1: of artillery battles. And essentially what this a package essentially
Speaker 1: will offer is long range rocket systems that can hit
Speaker 1: targets like forty pretty much forty to fifty miles away,
Speaker 1: compared to the howitzers that we currently supply that can
Speaker 1: hit targets out eighteen miles away. So it does give
Speaker 1: a bit more power in that regard. It's not the
Speaker 1: longest weapon systems the US has, what's kind of the
Speaker 1: mid range one. Biden was really explicit in his comments
Speaker 1: on this and writing about it, saying that this is
Speaker 1: for use for defense within Ukraine's borders, not to target
Speaker 1: Russia over the border. So very explicit language from Biden
Speaker 1: how he sees or wants these weapon systems to be used.
Speaker 1: Given how much range these weapons systems do have forty
Speaker 1: to fifty miles, as you say, and given where the
Speaker 1: war is centered at the moment in eastern Ukraine and
Speaker 1: the disputed uh Don Boss region, is there a risk
Speaker 1: that providing these sorts of mid range weapons systems could
Speaker 1: widen the war further? Well, it's certainly a concern, and
Speaker 1: it's one reason why the administration has been i would
Speaker 1: say a little bit uh you know, hesitant to reluctant
Speaker 1: in the past to supply them. Your Russia has signaled
Speaker 1: very strongly that they wouldn't see this as an escalation.
Speaker 1: They do see this as increased US involvement. And again
Speaker 1: that's why we see these weapons, coupled with the very
Speaker 1: strong messaging from the US that they don't want these
Speaker 1: to be used offensively over the order, and even more
Speaker 1: explicit language also from Biden saying that he doesn't want
Speaker 1: this war to drag on simply to cause pain for Russia.
Speaker 1: Their goal is simply to try and you establish a
Speaker 1: sovereign Ukraine with the needs to defend itself. So a
Speaker 1: bit more clarifying of messaging from Biden and how and
Speaker 1: why he sees these weapons being necessary, and perhaps we've
Speaker 1: seen in some of the past weapons releases. I want
Speaker 1: to shift from the war in Ukraine to the war
Speaker 1: on inflation, something that President Biden is being pretty explicit
Speaker 1: about wanting to focus on now over the next month.
Speaker 1: Here we got that meeting yesterday with a FED chair J. Powell,
Speaker 1: and now this admission on CNN from Treasury Secretary yelling
Speaker 1: that she got it wrong when she says when she
Speaker 1: said that inflation was transitory. What does this say about
Speaker 1: where the White House is in the fight against inflation. Yeah, well,
Speaker 1: I think there's a couple of things here. So the
Speaker 1: White House is struggling obviously on the policy side of
Speaker 1: reigning in inflation, but also on the messaging and the
Speaker 1: narrow off side. And we've seen this shift not only
Speaker 1: from yelling but really from you know, Biden, across the administration.
Speaker 1: This time last year, everyone pretty much saying and that
Speaker 1: inflation was transitory, temporary. That shifted a bit in the fall,
Speaker 1: with a bit more emphasis on build back better as
Speaker 1: being the thing that would kind of calm some of
Speaker 1: the passion families that obviously didn't go anywhere. A shift
Speaker 1: in the spring to blaming Putin's war, And so now
Speaker 1: it's really kind of the rubber hitting the road in
Speaker 1: terms of being to really confront this as an ongoing issue,
Speaker 1: something that the White House needs to take control over
Speaker 1: in terms of the policy and messaging. So I think
Speaker 1: we'll see some different attempts here. Biden, you wrote a
Speaker 1: pretty um direct off ed and the Wall Street Journal
Speaker 1: this week kind of laying out some of his his
Speaker 1: thoughts on it. But in reality, it's going to be
Speaker 1: tough for the administrations to have a positive message on this,
Speaker 1: like prices are hurting Americans over people are feeling the
Speaker 1: pain right now and are expressing concern, and there's just
Speaker 1: not a lot that the Biden administration is going to
Speaker 1: be able to do about it, especially going into mid terms.
Speaker 1: Only about thirty seconds left here, Professor, what's the political
Speaker 1: impact is the White House plant catch up here? Oh?
Speaker 1: I think they definitely are. And it's just it's unfortunate.
Speaker 1: There's not really a good answer here because you either
Speaker 1: own that you got it wrong or you keep trying
Speaker 1: to peddle a optimistic message that just doesn't align with
Speaker 1: what people are feeling right now. So it's going to
Speaker 1: be a challenge for them. They're obviously going to be
Speaker 1: trying to do what they can. Biden is really emphasizing
Speaker 1: the independence of the FED and underscoring that as kind
Speaker 1: of his political um posturing on this is just respecting
Speaker 1: the Fed and Powell to do their best to handle this.
Speaker 1: As always, great to get your thoughts, Thanks so much,
Speaker 1: Julie Norman, co director of the Center for US Politics
Speaker 1: at University College London. Right now, SMP futures are up
Speaker 1: eight points, STOWN futures up a hundred forty seven, NASTAC
Speaker 1: futures are lower by two points. Basically unchanged. Tend your
Speaker 1: treasuries down six thirty seconds, the yield two point eight
Speaker 1: six percent, just ahead, stocks back where they started to
Speaker 1: kick off June, and sales force surging on boosted profit
Speaker 1: or outlook. This is Bloomberg Bloomberg day Break, brought to
Speaker 1: you by p Pack Gladstone Bank. At p Pack Gladstone Bank,
Speaker 1: they believe that all banking should be private banking. To
Speaker 1: learn more, visit pg bank dot com. Today broadcasting live
Speaker 1: from the Bloomberg Interactive Broker Studio in New York, Bloomberg
Speaker 1: in Freedon to Washington, d C, Bloomberg to Bomston, Bloomberg
Speaker 1: one O six one to San Francisco, Bloomberg N sixty
Speaker 1: to the country Sirius XM to A one nine team,
Speaker 1: and around the globe the Bloomberg Business app in Bloomberg
Speaker 1: Radio dot com. This is Bloomberg Daybreak. It's five thirty
Speaker 1: on Wall Street. Good morning. I'm Nathan Hagar and I'm
Speaker 1: Karen Moscow, and we're just about four hours away from
Speaker 1: the open of US tray day. Let's get you have
Speaker 1: to date in the news you need to know at
Speaker 1: this hour. U S docks begin June coming off a
Speaker 1: volatile month that left the SNP five hundred basically unchanged.
Speaker 1: During the month of May, the benchmark index surged more
Speaker 1: than eight percent after falling within points of a drop
Speaker 1: from her record. John Stulpis, chief investment strategist with Oppenheimer
Speaker 1: Asset Management, says he could see the index begin to
Speaker 1: rise again. The last time we saw a market that
Speaker 1: was in the process of coming out of the prices,
Speaker 1: which was two thousand and nine, the SNP declined percent
Speaker 1: from January to March oh nine. It then rallied sixty
Speaker 1: four percent to the end of the year. Oppenheimer Asset
Speaker 1: Management chief investment strategist John Stolfi says it's possible the
Speaker 1: SNP makes a similar climb, but he admits he may
Speaker 1: have to adjust his projections well. Inflation is still a
Speaker 1: major focus for market scaring at the top political challenge
Speaker 1: for the White House. Now, Treasury Secretary Janet Yellt is
Speaker 1: admitting she got it wrong last year when she said
Speaker 1: inflation would be temporary. There have been on anticipated and
Speaker 1: lord shocks to the economy that have boosted energy and
Speaker 1: food prices and supply bottle knicks that have affected our
Speaker 1: economy badly. That I didn't at the time, didn't fully
Speaker 1: understand the Treasury Secretary Janet Yellen told CNN she's encouraged
Speaker 1: prices are coming down, but you can't rule out future shocks.
Speaker 1: We Secretary Yellen was at the White House yesterday Nathan
Speaker 1: for a rare meeting between President Biden and Fed share
Speaker 1: J Powell. Jean Spurling, senior adviser to the President, said
Speaker 1: the President used the meeting to make clear he respects
Speaker 1: the fans independence as it looks to cool inflation. We
Speaker 1: understand that our Federal Reserve is independent, has while they
Speaker 1: have a dual mandate, at times where inflation becomes the
Speaker 1: highest concern that they're going to take steps to dampen
Speaker 1: that inflation, and that's going to be raising interest rates,
Speaker 1: and the President is going to respect that independent. Senior
Speaker 1: Adviser to President Biden, Jane Spirling, speaking with Joe Matthew
Speaker 1: on Bloomberg's Sound on airing Leekday said five pm Eastern
Speaker 1: on Bloomberg Radio, Well, the federal being focus again today,
Speaker 1: Karen is it's set to start shrinking at eight point
Speaker 1: nine trillion dollar balance sheet. The Central Bank also releases
Speaker 1: its bage book today and turning to corporate earning, Nathan
Speaker 1: shares a salesforce more than eight percent in early training
Speaker 1: after the company raised its annual profit forecast yesterday at
Speaker 1: Crude Oils on the rise of this morning, Karen trading
Speaker 1: at a hundred sixteen dollars fifty two cents a barrel
Speaker 1: for West Texas Intermediate. That comes before an OPEC plus
Speaker 1: routine meeting tomorrow to discuss supply policy. Straight ahead, your
Speaker 1: latest local headlines and a check of sports. This is Bloomberg.
Speaker 1: That's sound five thirty three on Wall Street, sixty degrees
Speaker 1: in Central Park. We've got accident clean up. It's got
Speaker 1: George Street closed in Rider Lane and New Brunswick details
Speaker 1: coming up. A traffic first Michael Barr with War on
Speaker 1: what's going on in New York and around the world. Michael,
Speaker 1: thank you very much, Nathan. New York Governor Kathy hok
Speaker 1: Will introduced a new package of gun reform bills after
Speaker 1: mass shootings in Buffalo and Valdi. It as a total
Speaker 1: of ten bills that would tighten New York's gun laws
Speaker 1: and close loopholes. Among the proposed legislation is increasing the
Speaker 1: minimum age requirement to buy a semi automatic rifle from
Speaker 1: eighteen to twenty one. The first funerals for victims of
Speaker 1: last week's mass shooting at rob Elementary School began yesterday.
Speaker 1: In Your Vality Texas, Texas State Democratic Senator Roland Gautierrez,
Speaker 1: who represents you valdis as he is calling on Governor
Speaker 1: Greg Abbott to take action. We need a special session
Speaker 1: to fix gun laws, but we also need a special
Speaker 1: session for this legislature to go and investigate woment wrong here.
Speaker 1: State Senator Gautier has told ABC he is hearing voters
Speaker 1: demand for reform to gun laws. The Supreme Court has
Speaker 1: put on hold of Texas law that would stop social
Speaker 1: media platforms from the leading posts and accounts. Bloomberg said,
Speaker 1: Baxter has the story. The hold will allow a constitutional
Speaker 1: challenge to go forward in a lower cord. The tech
Speaker 1: groups Meta, Twitter and Google I'll argue the law would
Speaker 1: stop them from barring hate speech, including neo Nazi and
Speaker 1: ku klux Klan, or Russian propaganda, or just plainly misinformation
Speaker 1: and untruths. The authors of the legislation say they are
Speaker 1: just trying to protect free speech. The High Court vote
Speaker 1: was split in this decision and did not explain its
Speaker 1: decision at all in San Francisco. I'm at Baxter Bloomberg
Speaker 1: Gay Break. It's a new name for a new ELI
Speaker 1: Double R terminal. Governor Kathy Hokel says it will be
Speaker 1: called Grand Central Medicine. For twenties four years now, we've
Speaker 1: been hearing about this project, and everyone always just thought,
Speaker 1: so it'll get done someday in the future. The future,
Speaker 1: the future, the future is, Governor Okeles says. The East
Speaker 1: Side Access Terminal aims to bring more traffic into Manhattan
Speaker 1: from Long Island at peak times. Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quick Take,
Speaker 1: powered by more than twenty seven under journalist mentalist more
Speaker 1: than twenty countries. I'm Michael Barr, and this is Bloomberg.
Speaker 1: Name him Michael. Thanks on Wall Street, Jo Stashiris The
Speaker 1: Bloomberg Sports Update, Thanks Nathan. June begins with the Yankees
Speaker 1: best record baseball, Mets the third best and owners of
Speaker 1: the biggest lead. Yanks improved a thirty four and fifteen
Speaker 1: beat the Angels at the Stadium nine to one. Finally
Speaker 1: scored runs for Jordan Montgomery. Every Yank had a hit
Speaker 1: except Aaron Judge. Joey Gallo actually had two hits. Mets
Speaker 1: also at home, being Washington ten up in their thirty
Speaker 1: four and seventeen They've got a ten and a half
Speaker 1: team lead in the n L e seventeen met hits
Speaker 1: in their fifth one in the row. The Mets have
Speaker 1: sent the struggling Dom Smith to triple A Syracuse. He
Speaker 1: was batting just one eight six. He hit three sixteen
Speaker 1: two years ago Stanley Cup Plaoffs Game one in the
Speaker 1: West and it wasn't decided until the fourteenth goal of
Speaker 1: the night. Trying to get it out, he does the
Speaker 1: center rice through the likes of dry Citle, intercepted by
Speaker 1: Landiskog feet from Barry Landiskogle for net Yewshaw, Oh Captain,
Speaker 1: my captain make fit eight for the avalach with twenty
Speaker 1: one point four seconds to go in the third of
Speaker 1: this place has a rup day See Denver, Colorado peed
Speaker 1: Edmonton eight the six Rangers in lightning tonight at the
Speaker 1: Garden to start the eighth finals. Tampa Bay winners of
Speaker 1: ten consecutive playoff series, two time defending Stanley Cup champs,
Speaker 1: last NHL three feet the Islanders. In the early nineteen eighties,
Speaker 1: Rangers did sweep the regular season series of Tampa. They
Speaker 1: won all three games. Thirteen time French Chopa Jeff Raffield Island.
Speaker 1: In the semifinals in Paris, he beat Novak Djokovic and
Speaker 1: four sets. The match went over four hours. It ended
Speaker 1: past one am. Nadad will now play Alex Zaverev took
Speaker 1: out the nineteen year old Spaniard Carlos Alcarez. John Stashtward
Speaker 1: Bloomberg Sports, Nathan gotta rest up, Thank you, John. It's
Speaker 1: five thirty seven on Wall Street time for the Tri
Speaker 1: State Business Report with Bloomberg Scott Carr. Italian company penaf Arena,
Speaker 1: maker of the Ferrari, is opening an office in New
Speaker 1: York City, hits second in the U S as part
Speaker 1: of plans to expand in North America. They'll open a
Speaker 1: satellite office June one and Manhattan's Chelsea neighborhood. They'll be
Speaker 1: joined by creative partner Born Group. Shareholders of Spirit Airlines
Speaker 1: are being urged to vote no on the proposed merger
Speaker 1: deal with Frontier Airlines by proxy Advisory Group i s
Speaker 1: s New York City based Jet Blue Airways, however, which
Speaker 1: countered with a higher bid in April applauds the report.
Speaker 1: Jet Blue chief Robin Hayes says their bid offers superior value,
Speaker 1: though officials at Spirit have expressed concern about getting regulatory
Speaker 1: approval if they were to merge with Jet Blue. New
Speaker 1: Jersey's largest health insurer, Horizon, has just been named by
Speaker 1: j D Power as the state's number one health insurer
Speaker 1: and top provider for the third year in a row.
Speaker 1: That's the Bloomberg Tri State Business Report. I'm Scott Carr. Scott,
Speaker 1: It's thirty eight on Wall Street. Bloomberg Radio is on
Speaker 1: the air from San Francisco to New York, London to
Speaker 1: Hong Kong. Let's check in with our global news team
Speaker 1: for some of the top stories heard on our three
Speaker 1: hundred affiliate radio stags around the world. I'm Steves podascon
Speaker 1: ten ten Wins in New York. We're talking about the
Speaker 1: planned change for the stock ticker symbol for Facebook, fair A,
Speaker 1: Meta Platforms, andrace Matteo, And on KMOX and St. Louis.
Speaker 1: I'll be reporting on billions and funding being dedicated to
Speaker 1: strength in the US food supply chain. I'm Scott Carr,
Speaker 1: I w D c H in Washington. I'm reporting on
Speaker 1: Virginia's further steps to stifle plans for a casino and
Speaker 1: the state's capitol. M Corney's not all on ktr h
Speaker 1: M Tuesday, climbing gas crisis fell, no relief for drivers,
Speaker 1: and those are some of the stories our twenty seven
Speaker 1: hundred Bloomberg journalists and analysts are working on this morning.
Speaker 1: Around the world. It's five thirty nine on Wall Street.
Speaker 1: The following is an editorial from Bloomberg Opinion. The slaughter
Speaker 1: at an elementary school in Texas, soon after a similar
Speaker 1: atrocy at a grocery store in New York State, has
Speaker 1: stunned the country, tragically accustomed to mass shootings. This time, though,
Speaker 1: long makers might actually do something about it. Across the nation,
Speaker 1: so called red flag laws, which allow police or family
Speaker 1: members to ask a court temporarily ss spend an individual's
Speaker 1: access to guns when he poses a threat to himself
Speaker 1: or others, are commanding renewed bipartisan support. Such laws are
Speaker 1: now in the books in nineteen states, and the research
Speaker 1: on their effectiveness is encouraging. In Connecticut, for example, researchers
Speaker 1: estimate that one life has been saved for every ten
Speaker 1: to twenty protection orders issued under the law. Red flag
Speaker 1: laws may not be perfect, but they are useful, especially
Speaker 1: since many mass shooters give advance warning before committing their crimes,
Speaker 1: and after the horrors of recent days, there's no excuse
Speaker 1: for failing to act. This editorial was written by the
Speaker 1: Bloomberg Opinion Editorial Board. I'm David Shipley. For more Bloomberg
Speaker 1: Opinion place, go to Bloomberg dot com, slash opinion or
Speaker 1: opan go on the Bloomberg terminal. These has been Bloomberg Opinion.
Speaker 1: You can listen to Bloomberg Got opinion editorials every weekday.
Speaker 1: At this time, terminal customers can read more at O
Speaker 1: P I n GO SMP futures right now up seven points.
Speaker 1: Staff futures of a hundred forty three. NASTACK futures are
Speaker 1: lower by three points. Matt Mailey of Miller Taybeck joins
Speaker 1: us next. As we get ready to kick off the
Speaker 1: month of June. This is Bloomberg Cloober eleven, three oh weather.
Speaker 1: Chance for showers and thunderstorms this afternoon, low seventies for
Speaker 1: highs more showers likely tomorrow afternoon, low eighties, clearing upper
Speaker 1: seventies for Friday, currently sixty in central Park markets headlines
Speaker 1: and breaking news four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business app, and at Bloomberg Quick Take. This
Speaker 1: is a Bloomberg Business lash, and I'm Cameron Moscow. Stong's
Speaker 1: in Europe and US stock index futures have been struggling
Speaker 1: for direction this morning. I'm med a debate over the
Speaker 1: scale of central bank monetary policy tightening that's needed to
Speaker 1: fight inflation. We checked the markets every fifteen minutes throughout
Speaker 1: the trading day on Bloomberg with SMP futures up seven
Speaker 1: points this morning, down futures up a hundred thirty five
Speaker 1: nastack futures that will change the decks in Germany's up
Speaker 1: for tens of upper cent and the tenure treasury down
Speaker 1: four thirty seconds. You have two point eight six percent
Speaker 1: nine max screwed oil up one point six percent at
Speaker 1: a hundred sixteen dollars forty nine cents and barrel. That's
Speaker 1: a Bloomberg Business Flash. Now here's Michael Barr with more.
Speaker 1: I'm what's going on around the world, Michael Karen, thank
Speaker 1: you very much. As the victims in the Texas schools
Speaker 1: shooting are ladies arrest, President Dyden is promising to meet
Speaker 1: with members of Congress on gun reform. Yesterday, the President's
Speaker 1: meeting with New Zealand Prime Minister just Into ardor and
Speaker 1: praised her success in passing a ban on military style
Speaker 1: semi automatic weapons after a white supremacist killed fifty one
Speaker 1: Muslim worshippers. In baseball, the Yankees won the met shout out,
Speaker 1: the Nationals, ten zep, the Red Sox, Orioles, and an
Speaker 1: He's lost. The Giants won two nights in the NHL
Speaker 1: Eastern Conference Finals, Game one as the Rangers host the
Speaker 1: Lightning Global News twenty four hours a day on air
Speaker 1: rand on Bloomberg Quick Take, powered by more than journalists
Speaker 1: antalyists more than twenty countries. Michael Barr and this is Bloomberg.
Speaker 1: Nathan all right, Michael, Thanks, It's on Wall Street Live
Speaker 1: from the Bloomberg Interactive Broker Studios. This is Bloomberg Daybreak end.
Speaker 1: As we get ready to kick off the trading month
Speaker 1: of June. We are joined this morning by Matt Maylee,
Speaker 1: Chief market strategistic builder. Tape back, Matt, it's always great
Speaker 1: to speak with you. So we've ended the month of
Speaker 1: May pretty much right where we started. Where do you
Speaker 1: see the boom for stocks now, well, I mean after
Speaker 1: this uh, you know, obviously great rautity we saw last week, Nathan,
Speaker 1: we the things are looking a little bit better and um,
Speaker 1: you know it looks like the the you know, the
Speaker 1: internals from the market last week and the tentacles look
Speaker 1: pretty good. So there are there's some upside possibilities here,
Speaker 1: but um, you know, intermediate term and even longer term,
Speaker 1: I just think that you know, nothing's really changed. The
Speaker 1: FED is the going to continue to be aggressive. I
Speaker 1: mean that they're now going to start shrinking their balance
Speaker 1: sheet and you know this month and this is the
Speaker 1: type of thing that's gonna make it that was always
Speaker 1: gonna make it tough for the for the market rally
Speaker 1: much and uh and I think that's going to create
Speaker 1: headwinds as we move through the rest of the year,
Speaker 1: especially uh as we get close to this next earning season,
Speaker 1: which starts in July. And as we get close to that,
Speaker 1: I think we're gonna see some people start to uh
Speaker 1: lower those earnings expectations and that could be a catalyst
Speaker 1: for for a for a tough second half of the month.
Speaker 1: Oh what do you see as the market impact as
Speaker 1: the Fed begins to start unwinding it's balance sheet. Here,
Speaker 1: has the market fully priced in, uh, the end of
Speaker 1: the quantitative easing or could we still see more room
Speaker 1: for this market to fall. Yeah, I don't think it's
Speaker 1: fully priced it in yet. Number one, because the market,
Speaker 1: you know, they pushed through their liquidity, their massive liquidity program.
Speaker 1: They pushed the stock market well above the underlying fundamentals.
Speaker 1: And I think at seventeen times earlies, it's still above
Speaker 1: those underlying fundamentals, given you know, the interest rates have
Speaker 1: moved up. At least that tells us on a historical basis.
Speaker 1: But more importantly, we've also seen how the economy is
Speaker 1: starting too slow and uh to a degree that was
Speaker 1: always always gonna happen because when the fit you know,
Speaker 1: the stock mark has been such important part of the
Speaker 1: of the UH of the economies ever since the bernankey
Speaker 1: really you know, started using it as a tool a
Speaker 1: dozen years ago. And and so now that you know
Speaker 1: that fair value has got to come down a little
Speaker 1: bit because because the economy is starting to weaken, so
Speaker 1: I think it's got further to fall. And uh, I
Speaker 1: still think people need to play from the defensive side
Speaker 1: and take any bounces as an opportunity to get defensive.
Speaker 1: So where do you see those opportunities? Then? Well, it's
Speaker 1: kind of interesting because one of the things I still
Speaker 1: see is the the energy stocks. Uh, the one thing
Speaker 1: I'm a little worried. On a near term basis, I
Speaker 1: think investors don't have to chase those stocks right now
Speaker 1: because they're getting overbought, kind of like the way they
Speaker 1: did back in March. So let the stocks come to
Speaker 1: you a little bit. But one three stocks that I
Speaker 1: really like here on a longer term basis, and these
Speaker 1: are the ones you want to buy very gradually are
Speaker 1: big cap tech names. And it's like, oh wait a minute,
Speaker 1: if you're paish, how could you like some big cap
Speaker 1: tech names? And I'm just saying some of them have
Speaker 1: gotten hit hard. And the three I like our our Amazon, Google,
Speaker 1: or Alphabet and Meta the old Facebook. And the reason
Speaker 1: those stocks have already gotten knocked down they've gotten much
Speaker 1: cheaper than a lot of other tech names. And the
Speaker 1: thing is we're not gonna know where that where they're
Speaker 1: gonna bottom. If the broad market falls further like I
Speaker 1: think it will, Uh, these stocks will also follow the two.
Speaker 1: But if you buy them, every single month for really
Speaker 1: for the rest of the year, and you'll get a
Speaker 1: nice you know, you'll be able to get a nice
Speaker 1: little uh base of of of shares by the end
Speaker 1: of the year, a nice average price on those uh
Speaker 1: that you'll be really be sitting really nicely uh for
Speaker 1: next year and beyond. So in our last minute here, Matt,
Speaker 1: does that mean that names that aren't big cap tech
Speaker 1: stocks are more vulnerable to moves from the Fed, the UH,
Speaker 1: the unwinded the balance sheet and the possibility of more
Speaker 1: aggressive rate hikes for the rest of this year. Yes, yes,
Speaker 1: I do, and I do And if there are other
Speaker 1: big cap tech names that are still vulnerable and and
Speaker 1: like I mentioned, those three I just highlighted are more
Speaker 1: vulnerable as well, but just nowhere near as much. And
Speaker 1: on a long term basis, they're great, great companies UH
Speaker 1: and they've become a much more reasonably priced UH and
Speaker 1: and they're gonna be the better play. But I do, yes,
Speaker 1: I do think that you'll see more downside. We just
Speaker 1: said again, the FED pushed the things too uh too far.
Speaker 1: You know, they left their emergency level of liquidity on
Speaker 1: long past the emergency sort of the emergency had had
Speaker 1: ended for the economy, and so we have to go
Speaker 1: through the pain of the reset of that process. It's
Speaker 1: gonna be painful, but it's normal, it's healthy, and if
Speaker 1: you kind of pick your spots here and there, you
Speaker 1: can come out of the other side very very strongly.
Speaker 1: All Right, as always, Thanks Matt Mayley, Chief market strategist
Speaker 1: at Miller tay Back. Karen, all right, thanks Nathan. It
Speaker 1: is five three on Wall Street. Time for the Bloomberg
Speaker 1: Law Report. We get to the legal stories we're watching
Speaker 1: this morning from Bloomberg's Jeff Bellinger. Apple lost its bid
Speaker 1: for a new trial and a patent dispute. A jury
Speaker 1: rule that Apple must pay three hundred million dollars in
Speaker 1: damages for the wireless technology used in iPhones and other products.
Speaker 1: A federal appeals court rule that Vanheuser Busch Super Bowl
Speaker 1: ads that implied that Molson Coors uses corn syrup in
Speaker 1: its bears were not misleading. Gibson convinced a federal jury
Speaker 1: in Texas that a distributor sold counterfeit Gibson guitars. The
Speaker 1: jury awarded Gibson four thousand dollars in statutory damages after
Speaker 1: determining that no actual damages were suffered. Bloomberg Law everything
Speaker 1: you need, all on one legal research platform, including guidance
Speaker 1: analysis and Bloomberg market Intelligence. Find out more at Bloomberg
Speaker 1: Law dot com. Ray, Jeff, thank you. And now another
Speaker 1: legal story where watching a jury has acquitted a former
Speaker 1: lawyer for Hillary Clinton's presidential campaign of lying to the
Speaker 1: FBI about the identity of his client when provided a
Speaker 1: faulty tip on then candidate Donald Trump. The jury verdict
Speaker 1: in favor of Michael Sussman was the first trial of
Speaker 1: Special Counsel John and Durham's probe into the conduct of
Speaker 1: the FBI's Russia investigation, and Durham got a guilty plea
Speaker 1: from a former FBI lawyer for altering an email relating
Speaker 1: to a surveillance request, but he has yet to bring
Speaker 1: any charges related to the FBI investigation itself. For more
Speaker 1: of Bloomberg Stude Grosso speaks to former federal Prosecutor Robert
Speaker 1: mens a partner Emma Carter in English. This was Durham's
Speaker 1: first major courtroom test after a three year investigation. How
Speaker 1: big a setback is this for him? Well, it's a
Speaker 1: huge setback for Special Counsel John Durham because this is
Speaker 1: the very first case that's gone to trial after three
Speaker 1: years of investigating whether federal agents who investigated the Trump
Speaker 1: campaign committed any wrongdoing. So, in a sense, the Special
Speaker 1: Counsel's Office had really put everything on the line in
Speaker 1: this case, even though it ultimately was a fairly simple
Speaker 1: case which charged a single count of lying to the FBI. Right, so,
Speaker 1: Sussman presented research that he said suggested a possible secret
Speaker 1: back channel of communications between computer service for Russia based
Speaker 1: Alpha Bank and the Trump organization, but that wasn't what
Speaker 1: the issue was here. So the whole case turned on
Speaker 1: the simple question of whether or not Sussman when he
Speaker 1: came to the FBI had the single meeting with the
Speaker 1: General Council of the FBI, whether she was there in
Speaker 1: his individual capacity as an individual citizen giving information to
Speaker 1: the FBI that that affected potential national security issues, or
Speaker 1: whether he was there on behalf of a client. Now,
Speaker 1: what the defense argued ultimately successfully was that it didn't
Speaker 1: really matter because the FBI would have done the same
Speaker 1: thing had they known that he was there on behalf
Speaker 1: of the Clinton campaign or on behalf of a tech executive,
Speaker 1: And ultimately FBI did investigate the information and find out
Speaker 1: that it was without basis. The case depended on the
Speaker 1: testimony of one witness, James Baker, who was the FBI's
Speaker 1: General Council, when he met with Sussman alone in September
Speaker 1: of and he took no notes of that meeting. He
Speaker 1: had some credibility problems that the defense brought out. That's
Speaker 1: exactly right, and I think that was one of the
Speaker 1: reasons this was a very difficult case from the start,
Speaker 1: because there's really one person's word against the other as
Speaker 1: to what happened at that meeting. And as you mentioned,
Speaker 1: James Baker did not take notes. So although his testimony
Speaker 1: was he was a confident that Sussman insisted to him
Speaker 1: that he was not acting on behalf of a client,
Speaker 1: and that if he had known he was acting on
Speaker 1: behalf of a client, he may have handled the conversation
Speaker 1: or the meeting differently. The fact was the defense was
Speaker 1: able to in teach that testimony somewhat by pointing out
Speaker 1: that Sussman had represented cybersecurity clients in the past, and
Speaker 1: that Baker had said at various times that he didn't
Speaker 1: remember certain parts of that conversation and when he took
Speaker 1: to witness stand. He said he couldn't remember a hundred
Speaker 1: sixteen times when the defense to asked him questions, and
Speaker 1: so it wasn't rock solid testimony. And as Herbert mens
Speaker 1: A partner at mcarter in English speaking at the Bloomberg
Speaker 1: Student Garrosso. Catch more of that interview, plus analysis of
Speaker 1: the latest legal news, by subscribing to the Bloomberg Law
Speaker 1: Podcast or downloading this show at Bloomberg dot com, slash podcast,
Speaker 1: Attorney's combined exceptional legal research and business development tools at
Speaker 1: Bloomberg Law dot com and on the Bloomberg terminal at
Speaker 1: b Law. Go and against. And the futures are up
Speaker 1: six points this morning, down futures of a hundred thirty
Speaker 1: two nasdack futures down at twelve, still ahead of Bloomberg
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