Speaker 1: Live from the Bloomberg Interactive Burger Studios. Is this Bloomberg
Speaker 1: day Break for Frinday, July twenty second two Coming up
Speaker 1: this hour, the January sixth Committee makes the case that
Speaker 1: Donald Trump fueled the violence at the Capitol. President Biden
Speaker 1: said he's doing well after contracting COVID, snap shares plunge
Speaker 1: after a huge earnings disappointment, and Twitter, American Express and Verizon.
Speaker 1: I'll report this morning, Okay, Sapolio reported to New York
Speaker 1: and Congressman Lee Zelden attacked as a campaigns for governor.
Speaker 1: I'm John Tucker. Those stories straight ahead. I'm John Stashow Sports.
Speaker 1: The Yankees continued to struggle against the Astros, who had
Speaker 1: a doubleheader sweep in. Used to that's all strained ahead
Speaker 1: on Bloomberg day Break on Bloomberg eleven Free on New York,
Speaker 1: Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston,
Speaker 1: Bloomberg nine sixties and Francisco Sirius XM one nineteen and
Speaker 1: around the world, then Bloomberg Radio dot Com and via
Speaker 1: the Bloomberg Business app. Good morning, I'm Nathan Hagar, and
Speaker 1: I'm Karen Moscow and Ustock Index futures are moving lower
Speaker 1: this morning. We are coming up to five oh one
Speaker 1: on Wall Street, and we checked the markets every fifteen
Speaker 1: minutes throughout the trading day on Bloomberg. Right now, US
Speaker 1: and P futures are down about twelve points down, Future
Speaker 1: is down thirteen, nasdack futures down sixty nine, and the
Speaker 1: ten year treasury up eighteen thirty seconds yield two point
Speaker 1: eight zero percent. They yield on the two year three
Speaker 1: point oh five percent, and nine X screwed oil is
Speaker 1: up four ten s percent. Nathan Karen, we begin with
Speaker 1: last night's primetime hearing of the House January sixth Committee.
Speaker 1: The panel laid out evidence that former President Donald Trump
Speaker 1: ignored please from AIDS, members of Congress, and even his
Speaker 1: own family to call off the violence at the Capitol.
Speaker 1: Former Deputy White House Press Secretary Sarah Matthews testified that
Speaker 1: the President could have intervened at any time. There's a
Speaker 1: camera that is on in there at all times, and
Speaker 1: so if the President had wanted to make a statement
Speaker 1: um and address the American people, he could have been
Speaker 1: on camera almost instantly. Former White House age Sarah Matthews
Speaker 1: Committee member Adam Kinzinger says the former president didn't just
Speaker 1: fail to act on January six, he chose not to act.
Speaker 1: It was only once the Vice president and the members
Speaker 1: of Congress were in secure locations and the officers defending
Speaker 1: the capital began to turn the tide that then President
Speaker 1: Trump engaged in the political theater of telling the mob
Speaker 1: to go home. Republican Congressman Adam Kinsinger. This was the
Speaker 1: committee's eighth public hearing, but it won't be the last.
Speaker 1: Vice Chair Liz Cheney says more evidence is coming in
Speaker 1: and more live hearings will be held in September. And Nathan,
Speaker 1: we stay in Washington now in another major story centered
Speaker 1: on the White House, we're learning more about the condition
Speaker 1: of President Biden afterward that he's tested positive for COVID.
Speaker 1: So far, the White House says the President is fine,
Speaker 1: and we get more from Bloomberg's aid Baxter. President Biden says,
Speaker 1: symptoms are mild, doing well. We had a lot of work.
Speaker 1: I'm going to continue to get it done. And White
Speaker 1: House spokes and when Karen and Jean Pierre, he told
Speaker 1: us this morning, had a running nose, he had a
Speaker 1: dry cough, um, he was a little bit fatigued. Uh,
Speaker 1: he did say he had restless sleep. He is unpacked
Speaker 1: ALVID now, the White House COVID A response team leader
Speaker 1: dr Ashis Jaw took the occasion to remind people that
Speaker 1: Mr Biden had been double vaxed and double boosted, which
Speaker 1: is why his symptoms appear to be mild. In San Francisco,
Speaker 1: I'm at Baxter Bloomberg Daybreak. Alright, thank you, and we're
Speaker 1: seeing the White House shift the narrative on COVID from
Speaker 1: a health scare to something most vaccinated Americans can recover from.
Speaker 1: Chris Meekins is a healthcare policy analyst and managing director
Speaker 1: at Raymond James. Someone who is approaching eight, as the
Speaker 1: President is, would normally be at a much higher risk
Speaker 1: cutting up in Boo stood twice and now taking the
Speaker 1: treatment that the government successfully made investments. Chris Meekins that
Speaker 1: Raymond James spoke with our Washington correspondent Joe Matthew on
Speaker 1: Bloomberg Sound On. You can catch the program weekdays that
Speaker 1: five pm Eastern on Bloomberg Radio. Well Nathan Chinese Media
Speaker 1: reports at President Shei Jan Peng has sent a message
Speaker 1: to President Biden wishing him a quick recovery from COVID. Meantime,
Speaker 1: the President joins a rising national wave of infections dominated
Speaker 1: by a fast spreading new variant, and we get the
Speaker 1: latest line from Bloomberg's rand A Young, Good morning, Ranida,
Speaker 1: Good morning Karen. This new variant, known as B A
Speaker 1: point five, easily evades immune defenses, and COVID infections have
Speaker 1: been on the rise in the US. More than one
Speaker 1: seventy thousand new cases were reported on July nine. That's
Speaker 1: more than six times higher than the level reported in April.
Speaker 1: Los Angeles is seeing so many positive cases that it's
Speaker 1: likely to bring back indoor mask mandates next week. In
Speaker 1: San Francisco, virus levels in waste water have climbed higher
Speaker 1: than this past winter, but although the hospitalization rate has
Speaker 1: also been inching up since April, it's still well below
Speaker 1: previous peaks. Live in New York, I'm rened a Young
Speaker 1: Bloomberg daybreak. All right, Nita, thank you. Let's turn to
Speaker 1: the markets now. Futures are moving lower this morning, led
Speaker 1: by the NASDAC. This follows a disappointing earnings from Snap
Speaker 1: That stock is down nearly twenty nine percent in early trading.
Speaker 1: We get more from Bloomberg stud Prisoner blame a major
Speaker 1: slowdown in ad spending. The maker of the Snapchat app
Speaker 1: reported second quarter revenue of one point one one billion dollars.
Speaker 1: That is the weakest top line number for Snap as
Speaker 1: a public company, and it missed estimates by forty million dollars. Now.
Speaker 1: In terms of the bottom line, Snap posted a net
Speaker 1: loss of four D twenty two million. That was eighty
Speaker 1: nine million more than estimates. Now given an uncertain outlook,
Speaker 1: snapped in an issue guidance for the current quarter except
Speaker 1: to say so far, revenue is about flat compared to
Speaker 1: last year. In New York Time, Duck Prisoner Bloomberg day break,
Speaker 1: All right, thank you about the Snap disappointment is taking
Speaker 1: its toll on other social media stocks. In fact, about
Speaker 1: forty seven billion dollars has been wiped out this morning.
Speaker 1: Facebook parent Meta Platforms is down four point six percent.
Speaker 1: Google owner Alphabet is falling by two and a half percent,
Speaker 1: and the earnings continued to roll in today. Karen down members,
Speaker 1: American Express and Verizon report this morning. Bloomberg's Jeff Bellinger
Speaker 1: reports Twitter opens its books before the markets open. Twitter
Speaker 1: executives have not scheduled the customary post earnings conference call
Speaker 1: with analysts and reporters that will add importance to the
Speaker 1: company's news release. The social media platform will no doubt
Speaker 1: have something to say about its legal effort to force
Speaker 1: Eelon Mosk to honor his forty four billion dollar agreement
Speaker 1: to buy Twitter. It will also want to drive home
Speaker 1: the point that the company remains engaged with its users
Speaker 1: and committed to growth. Jeff Bellinger, Bloomberg Daybreak, A right, Jeff,
Speaker 1: thank you well. Over the past week, we've seen firms
Speaker 1: from big tech to big banks pull back on hiring plans,
Speaker 1: but it looks like Bank of America is bucking that trend.
Speaker 1: CEO Brian moynihan tells us he is keeping original hiring
Speaker 1: plans in place. We don't have any plans to make
Speaker 1: any major adjustments because, frankly, we have those plans to
Speaker 1: adjust our head count at all times. It's a constant
Speaker 1: planning process in our companies. How do we use the
Speaker 1: human capital that that great team we have even more
Speaker 1: effectively and efficiently. Bank of America CEO Brian moynahan also
Speaker 1: tells Our David Weston that he does not think inflation
Speaker 1: has peaked yet and as straight ahead. We have your
Speaker 1: latest local headlines, plus the check of sports, and this
Speaker 1: is Bloomberg. Thanks Karen. Five oh seven on Wall Street.
Speaker 1: Eighty degrees in Central Park with the heat advisory and
Speaker 1: effect through the weekend. Big problems headed to JFK this morning.
Speaker 1: The eastbound Belt parkways closed in two locations. Say more
Speaker 1: in traffic. First John Tucker with more on what's going
Speaker 1: on in New York and around the world Morning, John
Speaker 1: and Nathan. New York health officials have reported a polio
Speaker 1: case for the first time in the US in nearly
Speaker 1: a decade. The story this morning from Bloomberg's Charlie Bellett.
Speaker 1: Officials haven't offered details on who the Rockland County resident is,
Speaker 1: whether the person was vaccinated, or their current condition. State
Speaker 1: officials say it appears the person had a vack scene
Speaker 1: derived strain of the virus, perhaps from someone who got
Speaker 1: live vaccine available in other countries but not the US
Speaker 1: and spread it. Polio was once one of the nation's
Speaker 1: most feared diseases, with annual outbreaks causing thousands of cases
Speaker 1: of paralysis, many of them in children. In New York.
Speaker 1: Charlie Pellett Bloomberg Debreak, the Republican hoping to unseat New
Speaker 1: York's governor this fall, was rushed and grabbed while on
Speaker 1: stage last night by an armed man. Congressman Lee Zelden
Speaker 1: was in the middle of a campaign speech in Fairport.
Speaker 1: State assembly Member Marjorie Burns was there. She says the
Speaker 1: man grabbed Zelden and they both went down. He was
Speaker 1: armed with metal knuckles, and the metal knuckles had attached
Speaker 1: to it knives that were shaped like cat's ears. Zeldon
Speaker 1: wasn't seriously hurt and later continued his onstage speech. A
Speaker 1: third party auditor will reveal the New York State government's
Speaker 1: response to COVID nineteen, including efforts the administration of former
Speaker 1: Governor Andrew Cuombo to downplay the number of deaths of
Speaker 1: nursing home residents. Critics have said the current governor, Kathy Hoko,
Speaker 1: waited too long to launch the probe. Two teams fooling
Speaker 1: around of the water pretending to be sharks got a
Speaker 1: painful dose of the real thing. On Long Island, sixteen
Speaker 1: year old Max Haanes was bitten on the foot Wednesday
Speaker 1: evening on Fire Island. I just started paddling in. I
Speaker 1: was like, James, you better follow me. He's one of
Speaker 1: reported six people bitten by sharks in the area over
Speaker 1: the past three weeks. He's expanded to be okay now
Speaker 1: that you on Secretary Channel do to oversee the signing
Speaker 1: a deal that would allow Ukraine to resume its grain
Speaker 1: shipments to the Black Sea in Russia to export grain
Speaker 1: and fertilizers. The agreement expanted to be signed today would
Speaker 1: have to standoff that has threatened world food security. Global
Speaker 1: News twenty four hours a day on air and Bloomberg
Speaker 1: Quick Day, powered by more than twenty seven journalists and
Speaker 1: analysts and more than one twenty countries. I'm John Tucker,
Speaker 1: theseis Berg Nason. Thank you John. Coming up to five
Speaker 1: ten on Wall Street time for the Bloomberg Sports Update.
Speaker 1: Good morning, John Sash. The only way of the Yankees
Speaker 1: will see the Houston Astros again this season is if
Speaker 1: they both make it to the American League Championship Series.
Speaker 1: The two teams far and away the two best in
Speaker 1: the a L, and while the Yanks still have the
Speaker 1: better record, it's now by only two and a half games.
Speaker 1: In The Astros dominated the regular season series. They went
Speaker 1: five and two that included a no hitter in the
Speaker 1: Bronx and the two Yankee wins. They're only leads where
Speaker 1: when they walked the games off double Letter and Houston.
Speaker 1: The opener was the close one Yanks trail to one.
Speaker 1: With two outs of the ninth inning, they sent up
Speaker 1: I k f As a pinch hitter. The O one
Speaker 1: from Nerris grounded to the left side back casings Field
Speaker 1: picks coming home. He will store Piner whoever comes through
Speaker 1: to tie this game at two in the Cup with
Speaker 1: the Astros score but two outs to the bottom the
Speaker 1: ninth to win three two. Then they took the nightcap
Speaker 1: seven five, only that close because of an oar and
Speaker 1: Judge three run homer. The ninth is thirty four. The
Speaker 1: Yankees team batting average in the seven games versus the
Speaker 1: Astros one fifty one met sos. The Padres to night
Speaker 1: Max Schers are opposing you Darvish and fort st Lucy
Speaker 1: Jacob You grown through five innings sixty pitches a simulated game,
Speaker 1: but still no word on when he'll make his Mets
Speaker 1: season debut. This report that Scott Boris, the agent to
Speaker 1: Wan Soto, has told teams that the team Soto wants
Speaker 1: to be traded to the Mets whether Washington agrees would
Speaker 1: be willing to trade him to a division foe could
Speaker 1: be another Matters training camp gets set to begin. The
Speaker 1: Arizona Cardinals have a deal with start quarterback Kyler Murray
Speaker 1: five years, two hundred and thirty million dollars. John Stashward,
Speaker 1: Bloomberg Sports, Nathan Thanks, John SMP futures down nine point
Speaker 1: staff futures up three NASTAC futures are down sixty four
Speaker 1: points ten. Your treasury is up eighteen thirty seconds. Deal
Speaker 1: two point eight zero percent yield on the two year
Speaker 1: right now three point zero four per cent. You're listening
Speaker 1: to Bloomberg Day Break Bloomberg eleven three O Weather, the
Speaker 1: Heat Advisory and Effect till eight p m. Sunday. Low
Speaker 1: nineties today, mid nineties tomorrow, could hit a hundred by Sunday.
Speaker 1: We finally get a break on Tuesday. Right now eighty degrees.
Speaker 1: Markets headlines and breaking news twenty four hours a day
Speaker 1: at Bloomberg dot Com, the Bloomberg Business Out and at
Speaker 1: Bloomberg Quicktape. He's a Bloomberg Business Flash, and I'm Karen
Speaker 1: Moscow and European as stocks swinging to gains from losses,
Speaker 1: joining a global equity rebound as investors look to second
Speaker 1: quarter earning season to gauge how companies are weathering the
Speaker 1: impact of surging prices. Fonds in the dollar rising, SNP
Speaker 1: futures are lower. We checked the markets every fifteen minutes
Speaker 1: throughout the trading day on Bloomberg. Right now, S and
Speaker 1: P futures are down seven points. Now futures are a
Speaker 1: little changed, and nasday future is down fifties six. The
Speaker 1: decks in Germany's up half percent. The ten year treasury
Speaker 1: of nineteen thirty seconds held two point eight zero percent.
Speaker 1: They yield on the two year three point zero four percent.
Speaker 1: Nine X Screwed oil is little changed at ninety six
Speaker 1: dollars thirty nine cents of barrel. Comic school that a
Speaker 1: quarter percent or four dollars fifty cents is seventeen thirty
Speaker 1: five eighty announce. The euro one point zero one five
Speaker 1: seven against the dollar British bound one point one nine
Speaker 1: five nine, and the yen is at one thirty seven
Speaker 1: point four to and Bitcoin this morning is higher, up
Speaker 1: one point four percent at twenty three pound four hundred
Speaker 1: forty eight dollars. And today we get earnings from companies
Speaker 1: including American Express and Twitter. That's a Bloomberg business flash.
Speaker 1: Now here's John Tucker with more unless going on around
Speaker 1: the world. John, good Morning and Care of the House.
Speaker 1: January six Committee laid down the nearly minute by minute
Speaker 1: case last night that former President Trump allowed the violence
Speaker 1: of the capital to unfold despite place from his closest
Speaker 1: inner circle to call it off and con see the election.
Speaker 1: Here's Committee Vice Cheer Liz Cheney. Donald Trump made a
Speaker 1: purposeful choice to violate his oath of office, to ignore
Speaker 1: the ongoing violence against law enforcement, to threaten our constitutional order.
Speaker 1: There is no way to excuse that behavior. It was indefensible.
Speaker 1: Vice Cheer Cheney says there will be more public hearings
Speaker 1: in September, with more evidence and witnesses still coming forward.
Speaker 1: Sports Baseball back following the All Star Game, the Yankees
Speaker 1: get swept by the Astros and a double header. They
Speaker 1: split a twin bill with the Tigers. The Giants fall
Speaker 1: to the Dodgers. Six Global News twenty four hours a
Speaker 1: day on airund on Bloomberg Quicktake Power by more than
Speaker 1: twenty seven hundred journalists and analysts. It more than one
Speaker 1: and twenty countries. I'm John Tucker, This is Bloomberg. Nathan,
Speaker 1: all right, John, thank you. It's five nineteen on Wall
Speaker 1: Street Live from the Bloomberg Interactive Broker Studios. This is
Speaker 1: Bloomberg Daybreak and let's get more now. When we heard
Speaker 1: last night from the January six Committee as second prime
Speaker 1: time hearing, eighth overall, Joe Matthews with us this morning,
Speaker 1: our Washington correspondent, host of Sound On here on Bloomberg Radio. Joe,
Speaker 1: I think maybe one of the key takeaway lines, perhaps
Speaker 1: from one of the committee members, was that former President
Speaker 1: Trump not only failed to act, he chose not to act. Yeah.
Speaker 1: That was Adam Kinsinger, one of the two Republicans along
Speaker 1: with Liz Cheney, who we just heard on the panel,
Speaker 1: and and he helped to walk us through what what
Speaker 1: he described as the TikTok and that one eighty seven
Speaker 1: minutes in which then President Donald Trump basically watched television.
Speaker 1: As we understand, there was there was a gap in
Speaker 1: in in exactly the recording of exactly what happened in
Speaker 1: that three plus hours, and the President for the most
Speaker 1: part was in the dining room just off the Oval
Speaker 1: Office watching television. The White House photographer was not allowed
Speaker 1: in the room. And he made a series of telephone
Speaker 1: calls to individuals, including Rudy Giuliani, but none to law
Speaker 1: enforcement to help quell the riot that was happening on
Speaker 1: the other end of Pennsylvania Avenue. Yeah. Interesting that you
Speaker 1: point out that the president didn't want potentially photographers in
Speaker 1: the room with him, and of course there was a
Speaker 1: lot of evidence that callogg's were pretty much empty. Uh
Speaker 1: during that time. Almost sounds as though the January six
Speaker 1: Committee is alluding to the possibility of a cover up
Speaker 1: of what the President was doing that day. Well, whether
Speaker 1: you want to use that word or not, that you're
Speaker 1: you're going in the right direction here, Nathan. And we know,
Speaker 1: of course that there are great concerns about what happened
Speaker 1: to the communications among the Secret Service who we're working
Speaker 1: that day. There's one text message left from that entire experience. Uh.
Speaker 1: They're blaming this on a reboot of the phone system,
Speaker 1: but of course there could be a lot more involved
Speaker 1: in this. Is as Benny Thompson said last night, the
Speaker 1: chair of this committee, the damn is breaking. They're hearing
Speaker 1: from so many new witnesses and seeing so much evidence
Speaker 1: at this point now with regard to what you're describing that.
Speaker 1: I suspect we'll see more hearings as we get into September. Yeah,
Speaker 1: as Liz Cheney said that we would see more hearings
Speaker 1: in September. What further evidence could we get as this
Speaker 1: summer rolls on? Here? Of course, we've got the contempt
Speaker 1: of Congress hearing continuing with former why Trump advisor Steve
Speaker 1: Bannon as well. That's true, and and there's UH the
Speaker 1: matter of witness tampering. I actually thought we might hear
Speaker 1: more about this last night, recalling the previous UH hearing
Speaker 1: in which Liz Cheney made clear that Donald Trump attempted
Speaker 1: to contact tried to call one of the witnesses that
Speaker 1: the committee was in touch with. They forwarded that to
Speaker 1: the Department of Justice UH with with real concerns that
Speaker 1: this could in fact be a greater case involving witness
Speaker 1: tampering along with sedition and some of the other charges
Speaker 1: that we've heard about. But this is gonna be up
Speaker 1: to Merrick Garland now. The Department of Justice, of course,
Speaker 1: is conducting its own investigation, and we don't know, Nathan,
Speaker 1: when we'll get a final report from the committee. This
Speaker 1: idea of having further hearings with more evidence does kind
Speaker 1: of throw the timeline up in the air here. If
Speaker 1: Republicans win the majority in the House, as many expect
Speaker 1: in November, they could they could simply liquidate if if
Speaker 1: you will, dissolve this this amittee and then turn around
Speaker 1: and investigate the investigators. And I raises the question, of course,
Speaker 1: of whether this final report, if it does come out,
Speaker 1: comes closer to the November election and a mid term.
Speaker 1: Is there some thinking in the committee, Joe, that there's
Speaker 1: a possibility that they want this January six conversation to
Speaker 1: be part of the conversation that voters have with themselves
Speaker 1: as they had to the polls. I'm sure the committee
Speaker 1: members would yes, But there's also been concerned among Democrats
Speaker 1: that this could be just reek of politics if it
Speaker 1: gets too close to November, and they wanted this to
Speaker 1: be wrapped up a little bit earlier so they could
Speaker 1: then take that final report and talk about it as
Speaker 1: opposed to this being an open case when the polls
Speaker 1: are open. Uh if if you can think about it
Speaker 1: that way. But look, we're going to get an interim report.
Speaker 1: We have heard that much. That will likely come soon.
Speaker 1: But then the can is still open here. We don't
Speaker 1: know exactly where the committee is gonna be going or
Speaker 1: the d O J as we head into November. Joe
Speaker 1: Matthew are Washington correspondent with us this morning after the
Speaker 1: time time January six, hearing. We're gonna check back in
Speaker 1: with Joe later here on Bloomberg Daybreak for more on
Speaker 1: the committee's proceedings as well, of course, as a President
Speaker 1: Biden uh now facing COVID, isolating in the White House,
Speaker 1: continuing to work, but the White House sort of using
Speaker 1: his case, perhaps as a symbol of how to tackle
Speaker 1: the pandemic, with vaccinations and prophylactics now part of the mix. Joe,
Speaker 1: thanks as always. SMP futures right now down eight points down,
Speaker 1: futures up eight points. Nasdaq futures are lower by sixty
Speaker 1: two points right now, the tenure Treasury surging this morning,
Speaker 1: up twenty thirty seconds, the yield now two point eight
Speaker 1: zero percent, and the yield on the two year right
Speaker 1: now three point zero three percent. Nim X screw little
Speaker 1: changed right now up six cents nineties six dollars forty
Speaker 1: one cents of Veraril bitcoin just shy of twenty three thousand,
Speaker 1: five hundred. Stay with us. You are listening to Bloomberg
Speaker 1: Dave Bloomberg eleven three oh weather heat Advisory till eight
Speaker 1: Sunday night. We're gonna be in the low nineties today,
Speaker 1: mid nineties tomorrow, could hit a hundred by Sunday. Right
Speaker 1: now eighty degrees in Central Park. Broadcasting live from the
Speaker 1: Bloomberg Interacted Broker Studio in New York, Bloomberg Living Free
Speaker 1: to Washington, d C. Bloomberg to Boston, Bloomberg one O
Speaker 1: six one to San Francisco, Bloomberg nine six to the country,
Speaker 1: Sirius XM Chado one nineteen and around the globe to
Speaker 1: Bloomberg Business and Bloomberg Radio dot Com. This is Bloomberg
Speaker 1: Daybreak and it's five thirty on Wall Street. Good morning.
Speaker 1: I'm Karen Moscow, I'm Nathan Hagar. We're just about four
Speaker 1: hours away from the open of US trading. Let's sketch
Speaker 1: up to date on the news you need to know
Speaker 1: at this hour. The January six Committee laid out a
Speaker 1: nearly minute by minute case last night that former President
Speaker 1: Donald Trump ignored the pleas of his inner circle and
Speaker 1: allowed the violence to unfold at the Capitol last year.
Speaker 1: Here's Committee Democrat Elaine Laurian. President Trump did not then
Speaker 1: and does not now have the character or courage to
Speaker 1: say to the American people what his own people know
Speaker 1: to be true. He is responsible for the attack on
Speaker 1: the Capitol on January six. Demcrad Elane Lauria is speaking
Speaker 1: at last night's hearing, which won't be the last. Committee
Speaker 1: Vice chair List Cheney says there will be more in
Speaker 1: September as evidence and witnesses continue to roll in. Well,
Speaker 1: another major story we're following this morning, Nathan out of Washington,
Speaker 1: involves President Biden testing positive for COVID. So far, the
Speaker 1: President says symptoms are mild, even double vaccinated, double boosted,
Speaker 1: symptoms are mild and uh and I really appreciate your
Speaker 1: creative concern. And President Biden is a bit fatigued and
Speaker 1: has other mild symptoms, according to White House Press Secretary
Speaker 1: Karine Jean Pierre, Chinese President Jinping has sent the message
Speaker 1: to President Biden carring wishing him a quick recovery. That's
Speaker 1: according to Chinese media. The president joins a rising national
Speaker 1: COVID wave dominated by a new variant. Bloomberg's Grenita Young
Speaker 1: joins US Live with markod Morning, Granita, Good morning, Nathan.
Speaker 1: This variant, known as be a point five easily evades
Speaker 1: immune defenses. In the US, more than one hundred seventy
Speaker 1: thousand new cases were reported on July nine. That's more
Speaker 1: than six times higher than the level reported back in April. Meantime,
Speaker 1: Los Angeles considers bringing back indoor mask mandates. In San Francisco,
Speaker 1: virus levels in wastewater have climbed higher than this past winter,
Speaker 1: but although the hospitalization rate has also been inching up
Speaker 1: since April, it's still well below previous peaks. Live in
Speaker 1: New York, I'm Renia Young Bloomberg, daybreak, All right, ready
Speaker 1: to thank you all. Turning to the markets now nowday
Speaker 1: futures are lower following disappointing earnings from a Snap. That
Speaker 1: stock is down almost twenty nine per cent this morning.
Speaker 1: Others social media stocks you're taking a hit as well.
Speaker 1: Facebook parent Meta Platforms is down four and a half percent,
Speaker 1: and Google owner Alphabet is down two point seven and
Speaker 1: the earnings continue to roll in today, Karen down members.
Speaker 1: American Express and Verizon are scheduled to report this morning,
Speaker 1: and Twitter opens its books before the market open, and
Speaker 1: futures again lower s and p futures down twelve points,
Speaker 1: down features down nineteen, nastag futures down sixty seven, and
Speaker 1: the ten year treasury up eighteen thirty seconds yield two
Speaker 1: point eight zero percent. Sure to head your latest local headliness,
Speaker 1: A check of sports and this is Bloomberg Thanks on
Speaker 1: Wall Street. Eighty degrees in Central Park two closures on
Speaker 1: the eastbound belt Parkway. John Tucker has more on what's
Speaker 1: going on in New York and around the world. John
Speaker 1: and Congress. When Lee z elder, the Republican candidate for
Speaker 1: governor of New York, was attacked at a campaign of
Speaker 1: outside Rochester by a man with a pointed weapon who
Speaker 1: dragged them to the ground before being subdued. Zelden was
Speaker 1: naughty injured, he continued with his campaign speech and also
Speaker 1: thank those who ran to his aid, simply grabbing his
Speaker 1: risk until all these great could do anything stuffed. The
Speaker 1: event in Monroe County was the first stomp of a
Speaker 1: planned weekend bust tour across upstate New York to informally
Speaker 1: kicked off his general election campaign. KASA New York Airports,
Speaker 1: prompting Senators to call for an investigation into the business
Speaker 1: practices of airlines. That story this morning from Bloomberg's Lisa Mateo,
Speaker 1: New York's Kirsten Jilla Brand, along with two other senators,
Speaker 1: sent a letter to the Transportation Department and the Federal
Speaker 1: Trade Commission urging the agencies to investigate whether airlines are
Speaker 1: knowingly engaging in unfair or deceptive business practices by offering
Speaker 1: flights that they know are logistically impossible to execute. US
Speaker 1: air carriers have struggled to manage to and with three
Speaker 1: point two percent of flights canceled and delayed during the
Speaker 1: first five months of the year. Gillibrand says more flights
Speaker 1: were canceled in June this year than in any other
Speaker 1: previous June. Lisa Mateo Bloomberg Radio. An unvaccinated young adult
Speaker 1: from New York recently contracted polio. It's the first US
Speaker 1: case in nearly a decade. Officials say the patient that
Speaker 1: lives in Rockland County, had developed paralysis. The person is
Speaker 1: no longer deemed to be contagious, and the US's second
Speaker 1: largest pork complex struggling to process cargo even with expanded
Speaker 1: gate hours. The Port of New York and New Jersey
Speaker 1: has seen terminals expand operations into the evening on weekends.
Speaker 1: Despite the push, less than four percent of cargo is
Speaker 1: being moved on Saturdays each week. Global News twenty four
Speaker 1: hours a day on Aerona, Bloomberg Quicktake power by more
Speaker 1: than journalists and analysts in more than one twenty countries.
Speaker 1: I'm John Tucker. This he is Bloomberg, Nathan. Thank you,
Speaker 1: John all Street. Time for the Bloomberg Sports UF Day
Speaker 1: with John Stenshow next day, the Houston Astros kids tinue
Speaker 1: to be a Yankee nemesis. Three postseason series wins, and
Speaker 1: even as the Yanks are enjoying this terrific regular season,
Speaker 1: they really struggled against the Astros. In seven games, They've
Speaker 1: hadded just one fifty one and the Yankees never led
Speaker 1: at any point of the seven games, except for a
Speaker 1: couple of games they won when their first leads came
Speaker 1: with the walk offs. They never led the double header
Speaker 1: and used in the Astros one three to two with
Speaker 1: a run on the bottom the ninth, just after the
Speaker 1: Yankster tied the game with two outs at the top,
Speaker 1: and then Houston teed off on Domingo her Mom, who
Speaker 1: made his season debut back from a shoulder injury. He
Speaker 1: gave up five runs. The Astros won seven five yourd
Speaker 1: and Albarez and Alex Pregman, both Homeward combined for five
Speaker 1: rbuys Aaron Judge and at three run Homer the ninth,
Speaker 1: but the game ended with Matt Carpenter heading into a
Speaker 1: double play. You're Yaron Boone sucks anytime you lose, When
Speaker 1: you lose a couple in a day, I think we
Speaker 1: did that earlier in the year with the white sauce. Maybe,
Speaker 1: so tough day for us. Um Kill gave herself a
Speaker 1: chance there in the end with time run at the plate,
Speaker 1: um big boys coming, so um you know we got
Speaker 1: to get over it. Only two and a half games
Speaker 1: out of the Astros for best record. Yanks plate tonight
Speaker 1: in Baltimore, and while the Orioles are still in last place,
Speaker 1: they've won eleven or last thirteen to get to five
Speaker 1: d Matzos the Padres. Max Jerzy will start Jacob Degram
Speaker 1: and what may have been his last time on the
Speaker 1: mat before actually pitching for the Mets through sixty pitches
Speaker 1: in a simulated game. New contracts for Arizona Cardinals quarterback
Speaker 1: Kyler Murray will make forty six million a year and
Speaker 1: for Kirby Smart just coach Georgia the national championship. He's
Speaker 1: now signed through one John Stashward Bloomberg Sports. John thank
Speaker 1: you seven on Wall Street time for the Tri State
Speaker 1: Business Report. Here's Bloomberg's when did you Land? The overall
Speaker 1: rental market in the US may be slowing, but don't
Speaker 1: tell that to anyone trying to get a place. In
Speaker 1: Jersey City, New Jersey, it ranked second on the list
Speaker 1: of markets with the biggest annual rent increases. According to
Speaker 1: rent dot com, a one bedroom apartment averages over forty
Speaker 1: four hundred dollars, an increase of more than fifty compared
Speaker 1: to last year. Number one on the list is Austin, Texas,
Speaker 1: where the rent has gone up more than one to
Speaker 1: over thirty two hundred dollars a month. Rising inflation is
Speaker 1: causing demand to increase at food pantries. News twelve New
Speaker 1: Jersey reports pantries are becoming a main source of food
Speaker 1: for some families, rather than just supplemental aid. Some are
Speaker 1: coming multiple times in a month to get supplies. Pantries
Speaker 1: are asking for donations to keep up with the increased demand,
Speaker 1: and time is running out. In Connecticut for families to
Speaker 1: apply for the state's child tax rebate. The deadline is
Speaker 1: in a week and a half. Families get up to
Speaker 1: seven hundred and fifty dollars. That's the Bloomberg Tri State
Speaker 1: Business Report. I'm ready to let all right, Wendy, thank
Speaker 1: you five On Wall Street, Bloomberg Radio is on the
Speaker 1: air from San Francisco to New York, London to Hong Kong.
Speaker 1: Let's check in with our global news team for some
Speaker 1: of the top stories heard on our three hundred affiliate
Speaker 1: radio stations around the world. I'm Steve Potus k X
Speaker 1: in Wall So Angeles. We're talking about how higher costs
Speaker 1: are weighing on toymaker Mattel Were need Donaho On kt
Speaker 1: r H in Houston. GAP is expanding its easy partnership
Speaker 1: with Kanye West to bring in new customers. I'm Gina
Speaker 1: Servetti and for k CBS in San Francisco, I'm reporting
Speaker 1: that some global utilities are starting to offer rewards for
Speaker 1: consumers who conserve energy. Matteo and on WBZ in Boston,
Speaker 1: I'll be reporting on why it could be b y
Speaker 1: O C bring your own cup on your next light.
Speaker 1: Who we need to let on w T A M
Speaker 1: in Cleveland on reporting on the increased demand at food country.
Speaker 1: Those are some of the stories our twenty hundred Bloomberg
Speaker 1: journalists and analyst you're working on this morning around the world.
Speaker 1: It's five thirty nine on Wall Street. The following is
Speaker 1: an editorial from Bloomberg Opinion. This editorial was written by
Speaker 1: the Bloomberg Editorial Board. Global food prices were already lofty
Speaker 1: before grain producing Russia invaded wheat exporting Ukraine to make
Speaker 1: matters worse. Fertilized of prices have more than tripled in
Speaker 1: recent years, due in no small part to Russia's dominance
Speaker 1: of the market. Farmers from Brazil to Burundi are paying
Speaker 1: a steep price. Many have been forced to cut back
Speaker 1: on nutrients. Others are leaving fields fallow. The world's top
Speaker 1: priority should be to ease the supply crunch and avoid
Speaker 1: significant damage to the next harvest. That means pushing for
Speaker 1: states such as China to remove barriers on fertilizer exports.
Speaker 1: Existing support programs such as the Africa Fertilizer Financing Mechanism
Speaker 1: should also be expanded. Ukraine has demonstrated that the global
Speaker 1: food supply is more precarious than many had thought. It's
Speaker 1: a warning sign that the world can't ignore. This editorial
Speaker 1: was written by the Bloomberg Editorial Board. For more Bloomberg opinion,
Speaker 1: please go to Bloomberg dot com, slash opinion or ope
Speaker 1: I N go on the Bloomberg terminal. This has been
Speaker 1: Bloomberg opinion, and you can hear Bloomberg opinion editorials every weekday.
Speaker 1: At this time, terminal customers can read more at opie
Speaker 1: I N SMP futures down twelve point, staff futures down
Speaker 1: twenty eight NASTAC futures are lower by sixty nine points.
Speaker 1: The tenure treasury is up twenty thirty seconds. The yield
Speaker 1: two point eight zero per cent. This is Bloomberg. Bloomberg
Speaker 1: eleven three oh Whether the heat advisory remains in effect
Speaker 1: till eight o'clock Sunday night. Low nineties today, mid nineties,
Speaker 1: Tomorrow could see a hundred by Sunday. Right now eighty
Speaker 1: degrees in Central Park markets. Headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg
Speaker 1: Business at and at Bloomberg Quick Tape. He's a Bloomberg
Speaker 1: Business Flash, and I'm Karen Moscow and European is stock
Speaker 1: swinging to gains from losses, joining a global equity rebound
Speaker 1: as investors look to second quarter earning season to gauge
Speaker 1: how companies are weathering. The impact is searching prices, bonds
Speaker 1: and the dollar rising. NASTAG futures are lower this morning,
Speaker 1: weighed down by snaps poor results. We checked the markets
Speaker 1: every fifteen minutes throughout the trading day on Bloomberg. Right
Speaker 1: now isn't P futures are down twelve points down, features
Speaker 1: down twenty and NASTAG futures are down sixty seven. The
Speaker 1: docks in Germany is up about two tens of a percent.
Speaker 1: Ten year Treasury up nineteen thirty seconds, held two point
Speaker 1: eight zero percent. The yield on the two year three
Speaker 1: point oh three percent. Non max screwed oil is down
Speaker 1: eight ten percent or seventy eight cents at ninety five
Speaker 1: dollars fifty nine cents of barrel comes gold up half
Speaker 1: percent or nine dollars ten cents at seventeen forty forty
Speaker 1: announce The euro one point one five against the dollar,
Speaker 1: British bound one point one nine five three and again
Speaker 1: one thirty seven point three four and Bitcoin this morning
Speaker 1: of one and a half percent at twenty three thousand,
Speaker 1: four hundred seventy dollars well shares of Snap We're down
Speaker 1: more than twenty eight percent this morning after the company
Speaker 1: reported disappointing sales hrt by a major slowdown in as
Speaker 1: spending and rising competition for dwindling market dollars or marketing
Speaker 1: dollars rather shares. The Meta platforms and alphabet are also falling.
Speaker 1: Meta down four point four alphabets down two point nine percent.
Speaker 1: Today we get earning from Twitter as well as an
Speaker 1: American express and private sector activity in the euro Area
Speaker 1: unexpectedly shrank for the first time since the pandemic lockdowns
Speaker 1: of early one survey of purchasing manager's bas and p
Speaker 1: Global dropped to a seventeen month low in July. That's
Speaker 1: a Bloomberg business flash. Now here's John Tucker with more
Speaker 1: on what's going on around the world. John and Karen.
Speaker 1: The House January six Committee letting out nearly minute by
Speaker 1: minute case last night, but former President Trump allowed the
Speaker 1: violence of the capital unfold despite please from his closest
Speaker 1: inner circle to call it off and conceive the election.
Speaker 1: Here's Committee vins cheerless Cheney Donald Trump made a purposeful
Speaker 1: choice to violate his oath of office, to ignore the
Speaker 1: ongoing violence against law enforcement, to threaten our constitutional order.
Speaker 1: There is no way to excuse that behavior. It was indefensible.
Speaker 1: Vice Cher Liz Cheney says there will be more public
Speaker 1: hearings in September, with more evidence and witnesses still coming forward.
Speaker 1: White House officials expressing confidence that President Biden, who is
Speaker 1: seventy nine years old, will avoid the worst of the
Speaker 1: disease COVID nineteen after testing positive thanks to vaccines and
Speaker 1: a therapeutic drug largely unavailable before he took office. And
Speaker 1: Ian Bloomberg. Sports baseball is back following the All Star Game.
Speaker 1: The Yankees get swift for the Astros and a double
Speaker 1: headerd a split twin bill with the Tigers. The Giants
Speaker 1: folded the Dodgers nine to six. Global News twenty four
Speaker 1: hours a day on aeron Bloomberg Quicktake, This is Bloomberg.
Speaker 1: May okay, John, thank you. It's five fifty on Wall
Speaker 1: Street Live in the Bloomberg Interactive Broker Studios. This is
Speaker 1: Bloomberg Day Break. Let's turn back to January six, after
Speaker 1: last night's primetime hearing, Alex Holder filmed the last TV
Speaker 1: interview that former President Donald Trump gave in the Maine House.
Speaker 1: His documentary in the build up to the storming of
Speaker 1: the Capital, gave exclusive access to the President's inner circle,
Speaker 1: so much so that the January six when he has
Speaker 1: subpoenaed a hundred hours of holders raw footage, Alex Holder
Speaker 1: tells Bloomberg's Leanne Garrenson Tom Mackenzie about his experience of
Speaker 1: the President in the dying days of his administration. Trump
Speaker 1: actually believed came to believe the lie that he had
Speaker 1: started back in twenty which is that, yeah, if there
Speaker 1: was a chance he wouldn't win, delegitimizing the vote was
Speaker 1: a technique that he was playing, and I think back
Speaker 1: in twenty sixteen he knew it was, you know, a lie.
Speaker 1: He would probably argue that it was more a joke,
Speaker 1: but the idea of of making people think that the
Speaker 1: election and the results didn't didn't matter, didn't count, was
Speaker 1: something that he'd been playing with for few years earlier.
Speaker 1: When it came to sort of reality that he clearly
Speaker 1: lost the twenty election, he then started to really push
Speaker 1: this this point. And when I interviewed him a month
Speaker 1: after the election and so it was the last interview
Speaker 1: that Trump ever gave in the White House was on
Speaker 1: the fourth or fifth of December in the White House.
Speaker 1: And he's still a president of the United States. And
Speaker 1: this is after his attorney general, after everybody really around
Speaker 1: him except some of the loony's were we're saying that
Speaker 1: there's absolutely no evidence to support his positions. And then
Speaker 1: they had lost all of their court cases, including cases
Speaker 1: by Republican judges that he had in fact appointed, had
Speaker 1: all dismissed all of these lawsuits about the election, and
Speaker 1: it was quite clear that that President Biden by the
Speaker 1: time President Led Biden had won. And so he and
Speaker 1: he still maintained this position where he was not only
Speaker 1: just saying how Biden didn't get eighty million votes, he
Speaker 1: was coming up with remedies essentially to his situation, I
Speaker 1: what needs to happen to ensure he in fact wins.
Speaker 1: And he starts going on about Georgia and how the
Speaker 1: election officials there were cowards and stupid, these Republican officials
Speaker 1: to not open up the the balance to check signatures
Speaker 1: and and and it's coming up with all sorts of
Speaker 1: conspiratory ideas and then start denigrating the judicial system, and
Speaker 1: I think, yeah, Trump has this ability to passionate, and
Speaker 1: he does, and he there was no doubt in my
Speaker 1: mind that he absolutely believes in what he was saying,
Speaker 1: which is the obviously no way of defense, and and
Speaker 1: and and the fact is actually terrifying that there's no
Speaker 1: way of being able to rationalize with him. And Bill
Speaker 1: bar staid in his testimony that Trump was a man
Speaker 1: that was detached from reality. This is the president of
Speaker 1: the United States with all the power and the apparatus
Speaker 1: that surrounds the president of the United States, which I saw.
Speaker 1: I mean, the guy with the nuclear football was standing
Speaker 1: outside the room when I was interviewing the President of
Speaker 1: the United States, telling me what needs to happen is
Speaker 1: we need to find quote brave judges. I mean, this
Speaker 1: is America. This is not you know, a country where
Speaker 1: it's not governed by like the rule of law and democracy, right.
Speaker 1: I mean George Washington's painting is looking down at Trump
Speaker 1: whilst I'm interviewing him, and he's coming out with these
Speaker 1: anti democratic ideas. It's absolutely remarkable at horrifying. But he
Speaker 1: when you tell centify many people that and it's coming
Speaker 1: from the incumbent President and the guy they voted for
Speaker 1: that their votes in't count. What what does anyone expect
Speaker 1: it's going to happen next? I mean it's going to
Speaker 1: be absolute fiasco and and incredibly dangerous. And that was
Speaker 1: documentary filmmaker Alex Holder speaking with Bloomberg's Leanne Gern's and
Speaker 1: Tom Mackenzie Karen Nathan. It is five fifty three on
Speaker 1: Wall Street. Time to the Bloomberg Law Report. Let's get
Speaker 1: to the legal stories were watching this morning with Bloomberg's
Speaker 1: Jeff Bellinger. Two standard setting organizations released draft criteria defining
Speaker 1: reduced levels of hazardous chemicals that would be allowed in electronics.
Speaker 1: The organizations are ready to receive comments. The House Education
Speaker 1: and Labor Committee will consider legislation to compel the Federal
Speaker 1: Workers Safety Agency to complete a heat stress regulation to
Speaker 1: help protect workers. A Swedish music label is suing meta platforms,
Speaker 1: charging the hundreds of copyrighted tracks appear on Facebook and Instagram.
Speaker 1: Bloomberg Law everything you need, all on one legal research platform,
Speaker 1: including guidance analysis and Bloomberg Market Intelligence. Find out more
Speaker 1: at Bloomberg Law dot com. Right, Jeff, thank you, And
Speaker 1: now another legal story we're watching this morning. The Supreme
Speaker 1: Court's shadow dockets seems to be gaining ground on the
Speaker 1: regular docket, with the Court issuing more emergency orders than
Speaker 1: opinions in cases that were fully briefed and argued for more.
Speaker 1: June Grauso spoke with University of Texas law professor Stephen Fletic.
Speaker 1: Part of it is that the Court is doing more
Speaker 1: and more significant stuff on the shadow Dockted, I think
Speaker 1: more of it is that, you know, folks are paying
Speaker 1: attention to it, to a later to be never before,
Speaker 1: And you know, the Court, for all the headlines and
Speaker 1: dramas around him the most recent terms, actually deciding a
Speaker 1: fewer cases on the merits docket at any point since
Speaker 1: the Civil War. So you know, when you have a
Speaker 1: flurry of significant rulings coming down through these unsigned, often
Speaker 1: unexplained orders, you know, I think it's no surprise that
Speaker 1: folks are paying a lot more attention to that part
Speaker 1: of the Supreme Court's work. Since August of one, the
Speaker 1: justices have issued sixty six emergency orders compared to sixty
Speaker 1: merits opinions. So does something seem off there or are
Speaker 1: these really emergencies? Twenty nine were related to COVID Rules
Speaker 1: fifteen to executions. Well, and I think I think it's
Speaker 1: worth stressing that the denominator there is not necessarily telling
Speaker 1: us how often the courts intervened. I mean, so far
Speaker 1: this term, by my kind of I think the Court
Speaker 1: has granted sixteen emergency applications. That's on rough paste for
Speaker 1: where we've been the last couple of years, which is
Speaker 1: twenty to twenty four per term. But even that's up
Speaker 1: dramatically over you know, prior years June. I think part
Speaker 1: of what's going on is, you know, there have been
Speaker 1: obviously a whole bunch of external causes for um increased
Speaker 1: emergency delegation. You know, part of it is that because
Speaker 1: the Court is actually granted more of these applications, because
Speaker 1: more and more of these efforts are succeeding. You know,
Speaker 1: lawyers are acting as lawyers act. Lawyers are going to
Speaker 1: try to remember the application in context in which they
Speaker 1: previously would not have. And so I think we're just
Speaker 1: generally seeing an increasingly active shadow docket, be getting an
Speaker 1: increasingly active shadow docket where the more the justices seem
Speaker 1: willing to you know, intervene early in cases to disrupt
Speaker 1: the status quo um through these unsigned and usually unexplained orders,
Speaker 1: the more the parties have can ask them to. I
Speaker 1: think that's why we're seeing, you know, the shadow doctor
Speaker 1: really start to compete with the merits docket in overall volumes.
Speaker 1: And that's even Athletic, a law professor at the University
Speaker 1: at Texas, speaking at Bloomberg's You and Grow So catch
Speaker 1: Where are that? Interview plus analysis of the latest legal news.
Speaker 1: By subscribing to the Bloomberg Law Podcast or downloading this
Speaker 1: show at Bloomberg dot com Slash podcast. Attorneys can find
Speaker 1: exceptional legal research and business development tools at Bloomberg Law
Speaker 1: dot com and on the Bloomberg terminal at b law Go.
Speaker 1: Futures this morning moving lower, M S and P future
Speaker 1: is down ten points down, futures down four and now
Speaker 1: is DAG Futures down to sixty four weighed down by
Speaker 1: snap this morning. Ten year treasury of seventeen thirty seconds
Speaker 1: yelled two point eight one percent. They yield on the
Speaker 1: two year three point oh three percent, and I make screwed.
Speaker 1: Oil is down half percent or forty nine cents at
Speaker 1: ninety six cents of barrel still ahead on Bloomberg Day
Speaker 1: Break and check on the business headlines and all the
Speaker 1: news you need to start your day. And this is Bloomberg.