WEBVTT - Bloomberg Daybreak: July 22, 2022 - Hour 1 (Radio) 0:00:03.640 --> 0:00:06.840 Live from the Bloomberg Interactive Burger Studios. Is this Bloomberg 0:00:06.920 --> 0:00:10.440 day Break for Frinday, July twenty second two Coming up 0:00:10.440 --> 0:00:13.520 this hour, the January sixth Committee makes the case that 0:00:13.600 --> 0:00:16.960 Donald Trump fueled the violence at the Capitol. President Biden 0:00:17.000 --> 0:00:21.040 said he's doing well after contracting COVID, snap shares plunge 0:00:21.079 --> 0:00:25.680 after a huge earnings disappointment, and Twitter, American Express and Verizon. 0:00:25.760 --> 0:00:29.680 I'll report this morning, Okay, Sapolio reported to New York 0:00:29.800 --> 0:00:32.839 and Congressman Lee Zelden attacked as a campaigns for governor. 0:00:33.000 --> 0:00:36.800 I'm John Tucker. Those stories straight ahead. I'm John Stashow Sports. 0:00:36.800 --> 0:00:39.800 The Yankees continued to struggle against the Astros, who had 0:00:39.840 --> 0:00:45.640 a doubleheader sweep in. Used to that's all strained ahead 0:00:45.680 --> 0:00:49.240 on Bloomberg day Break on Bloomberg eleven Free on New York, 0:00:49.440 --> 0:00:54.120 Bloomberg one, Washington, d C, Bloomberg one oh six one, Boston, 0:00:54.400 --> 0:00:59.120 Bloomberg nine sixties and Francisco Sirius XM one nineteen and 0:00:59.200 --> 0:01:02.320 around the world, then Bloomberg Radio dot Com and via 0:01:02.360 --> 0:01:09.400 the Bloomberg Business app. Good morning, I'm Nathan Hagar, and 0:01:09.400 --> 0:01:12.840 I'm Karen Moscow and Ustock Index futures are moving lower 0:01:12.880 --> 0:01:15.040 this morning. We are coming up to five oh one 0:01:15.120 --> 0:01:17.280 on Wall Street, and we checked the markets every fifteen 0:01:17.280 --> 0:01:19.880 minutes throughout the trading day on Bloomberg. Right now, US 0:01:19.920 --> 0:01:22.759 and P futures are down about twelve points down, Future 0:01:22.800 --> 0:01:25.679 is down thirteen, nasdack futures down sixty nine, and the 0:01:25.720 --> 0:01:28.520 ten year treasury up eighteen thirty seconds yield two point 0:01:28.560 --> 0:01:31.240 eight zero percent. They yield on the two year three 0:01:31.280 --> 0:01:34.200 point oh five percent, and nine X screwed oil is 0:01:34.280 --> 0:01:37.200 up four ten s percent. Nathan Karen, we begin with 0:01:37.360 --> 0:01:40.680 last night's primetime hearing of the House January sixth Committee. 0:01:40.800 --> 0:01:43.720 The panel laid out evidence that former President Donald Trump 0:01:43.760 --> 0:01:46.880 ignored please from AIDS, members of Congress, and even his 0:01:46.959 --> 0:01:49.520 own family to call off the violence at the Capitol. 0:01:49.800 --> 0:01:53.080 Former Deputy White House Press Secretary Sarah Matthews testified that 0:01:53.120 --> 0:01:56.200 the President could have intervened at any time. There's a 0:01:56.280 --> 0:01:59.000 camera that is on in there at all times, and 0:01:59.040 --> 0:02:01.800 so if the President had wanted to make a statement 0:02:02.320 --> 0:02:05.120 um and address the American people, he could have been 0:02:05.280 --> 0:02:08.840 on camera almost instantly. Former White House age Sarah Matthews 0:02:08.880 --> 0:02:12.000 Committee member Adam Kinzinger says the former president didn't just 0:02:12.120 --> 0:02:15.480 fail to act on January six, he chose not to act. 0:02:15.800 --> 0:02:18.400 It was only once the Vice president and the members 0:02:18.440 --> 0:02:22.360 of Congress were in secure locations and the officers defending 0:02:22.400 --> 0:02:26.239 the capital began to turn the tide that then President 0:02:26.240 --> 0:02:29.560 Trump engaged in the political theater of telling the mob 0:02:29.639 --> 0:02:32.800 to go home. Republican Congressman Adam Kinsinger. This was the 0:02:32.800 --> 0:02:35.600 committee's eighth public hearing, but it won't be the last. 0:02:35.760 --> 0:02:38.560 Vice Chair Liz Cheney says more evidence is coming in 0:02:38.680 --> 0:02:42.320 and more live hearings will be held in September. And Nathan, 0:02:42.360 --> 0:02:45.160 we stay in Washington now in another major story centered 0:02:45.160 --> 0:02:47.480 on the White House, we're learning more about the condition 0:02:47.520 --> 0:02:50.880 of President Biden afterward that he's tested positive for COVID. 0:02:51.200 --> 0:02:53.480 So far, the White House says the President is fine, 0:02:53.520 --> 0:02:57.320 and we get more from Bloomberg's aid Baxter. President Biden says, 0:02:57.360 --> 0:02:59.960 symptoms are mild, doing well. We had a lot of work. 0:03:00.200 --> 0:03:02.400 I'm going to continue to get it done. And White 0:03:02.400 --> 0:03:04.639 House spokes and when Karen and Jean Pierre, he told 0:03:04.680 --> 0:03:08.440 us this morning, had a running nose, he had a 0:03:08.560 --> 0:03:12.800 dry cough, um, he was a little bit fatigued. Uh, 0:03:12.919 --> 0:03:15.680 he did say he had restless sleep. He is unpacked 0:03:15.720 --> 0:03:18.160 ALVID now, the White House COVID A response team leader 0:03:18.240 --> 0:03:21.320 dr Ashis Jaw took the occasion to remind people that 0:03:21.440 --> 0:03:24.400 Mr Biden had been double vaxed and double boosted, which 0:03:24.440 --> 0:03:27.560 is why his symptoms appear to be mild. In San Francisco, 0:03:27.600 --> 0:03:30.160 I'm at Baxter Bloomberg Daybreak. Alright, thank you, and we're 0:03:30.200 --> 0:03:32.560 seeing the White House shift the narrative on COVID from 0:03:32.600 --> 0:03:36.840 a health scare to something most vaccinated Americans can recover from. 0:03:36.920 --> 0:03:40.000 Chris Meekins is a healthcare policy analyst and managing director 0:03:40.000 --> 0:03:43.200 at Raymond James. Someone who is approaching eight, as the 0:03:43.240 --> 0:03:46.360 President is, would normally be at a much higher risk 0:03:46.480 --> 0:03:49.480 cutting up in Boo stood twice and now taking the 0:03:49.520 --> 0:03:54.560 treatment that the government successfully made investments. Chris Meekins that 0:03:54.680 --> 0:03:57.520 Raymond James spoke with our Washington correspondent Joe Matthew on 0:03:57.560 --> 0:04:00.080 Bloomberg Sound On. You can catch the program weekdays that 0:04:00.240 --> 0:04:03.880 five pm Eastern on Bloomberg Radio. Well Nathan Chinese Media 0:04:03.960 --> 0:04:06.640 reports at President Shei Jan Peng has sent a message 0:04:06.680 --> 0:04:10.120 to President Biden wishing him a quick recovery from COVID. Meantime, 0:04:10.160 --> 0:04:13.880 the President joins a rising national wave of infections dominated 0:04:13.880 --> 0:04:15.960 by a fast spreading new variant, and we get the 0:04:16.040 --> 0:04:18.840 latest line from Bloomberg's rand A Young, Good morning, Ranida, 0:04:18.880 --> 0:04:21.640 Good morning Karen. This new variant, known as B A 0:04:21.760 --> 0:04:25.919 point five, easily evades immune defenses, and COVID infections have 0:04:26.000 --> 0:04:28.520 been on the rise in the US. More than one 0:04:28.960 --> 0:04:32.760 seventy thousand new cases were reported on July nine. That's 0:04:32.800 --> 0:04:36.080 more than six times higher than the level reported in April. 0:04:36.520 --> 0:04:39.680 Los Angeles is seeing so many positive cases that it's 0:04:39.720 --> 0:04:42.920 likely to bring back indoor mask mandates next week. In 0:04:43.000 --> 0:04:46.719 San Francisco, virus levels in waste water have climbed higher 0:04:46.760 --> 0:04:50.280 than this past winter, but although the hospitalization rate has 0:04:50.320 --> 0:04:53.400 also been inching up since April, it's still well below 0:04:53.440 --> 0:04:56.560 previous peaks. Live in New York, I'm rened a Young 0:04:56.600 --> 0:04:59.200 Bloomberg daybreak. All right, Nita, thank you. Let's turn to 0:04:59.240 --> 0:05:01.960 the markets now. Futures are moving lower this morning, led 0:05:01.960 --> 0:05:05.599 by the NASDAC. This follows a disappointing earnings from Snap 0:05:05.800 --> 0:05:09.560 That stock is down nearly twenty nine percent in early trading. 0:05:09.839 --> 0:05:12.360 We get more from Bloomberg stud Prisoner blame a major 0:05:12.400 --> 0:05:15.440 slowdown in ad spending. The maker of the Snapchat app 0:05:15.520 --> 0:05:19.560 reported second quarter revenue of one point one one billion dollars. 0:05:19.600 --> 0:05:21.840 That is the weakest top line number for Snap as 0:05:21.839 --> 0:05:26.080 a public company, and it missed estimates by forty million dollars. Now. 0:05:26.120 --> 0:05:28.360 In terms of the bottom line, Snap posted a net 0:05:28.400 --> 0:05:31.479 loss of four D twenty two million. That was eighty 0:05:31.560 --> 0:05:35.200 nine million more than estimates. Now given an uncertain outlook, 0:05:35.240 --> 0:05:37.839 snapped in an issue guidance for the current quarter except 0:05:37.880 --> 0:05:40.520 to say so far, revenue is about flat compared to 0:05:40.600 --> 0:05:43.599 last year. In New York Time, Duck Prisoner Bloomberg day break, 0:05:43.760 --> 0:05:46.239 All right, thank you about the Snap disappointment is taking 0:05:46.240 --> 0:05:48.919 its toll on other social media stocks. In fact, about 0:05:48.920 --> 0:05:51.760 forty seven billion dollars has been wiped out this morning. 0:05:51.839 --> 0:05:55.080 Facebook parent Meta Platforms is down four point six percent. 0:05:55.400 --> 0:05:58.440 Google owner Alphabet is falling by two and a half percent, 0:05:59.240 --> 0:06:02.200 and the earnings continued to roll in today. Karen down members, 0:06:02.240 --> 0:06:06.000 American Express and Verizon report this morning. Bloomberg's Jeff Bellinger 0:06:06.040 --> 0:06:09.800 reports Twitter opens its books before the markets open. Twitter 0:06:09.920 --> 0:06:14.000 executives have not scheduled the customary post earnings conference call 0:06:14.080 --> 0:06:17.200 with analysts and reporters that will add importance to the 0:06:17.200 --> 0:06:21.040 company's news release. The social media platform will no doubt 0:06:21.040 --> 0:06:23.600 have something to say about its legal effort to force 0:06:23.600 --> 0:06:26.920 Eelon Mosk to honor his forty four billion dollar agreement 0:06:26.960 --> 0:06:29.640 to buy Twitter. It will also want to drive home 0:06:29.680 --> 0:06:32.599 the point that the company remains engaged with its users 0:06:32.680 --> 0:06:36.960 and committed to growth. Jeff Bellinger, Bloomberg Daybreak, A right, Jeff, 0:06:36.960 --> 0:06:39.360 thank you well. Over the past week, we've seen firms 0:06:39.360 --> 0:06:42.640 from big tech to big banks pull back on hiring plans, 0:06:42.640 --> 0:06:45.000 but it looks like Bank of America is bucking that trend. 0:06:45.360 --> 0:06:48.600 CEO Brian moynihan tells us he is keeping original hiring 0:06:48.600 --> 0:06:51.040 plans in place. We don't have any plans to make 0:06:51.080 --> 0:06:54.120 any major adjustments because, frankly, we have those plans to 0:06:54.120 --> 0:06:56.880 adjust our head count at all times. It's a constant 0:06:56.880 --> 0:06:59.760 planning process in our companies. How do we use the 0:07:00.640 --> 0:07:03.600 human capital that that great team we have even more 0:07:04.080 --> 0:07:07.760 effectively and efficiently. Bank of America CEO Brian moynahan also 0:07:07.800 --> 0:07:11.040 tells Our David Weston that he does not think inflation 0:07:11.160 --> 0:07:14.240 has peaked yet and as straight ahead. We have your 0:07:14.320 --> 0:07:17.880 latest local headlines, plus the check of sports, and this 0:07:18.080 --> 0:07:25.000 is Bloomberg. Thanks Karen. Five oh seven on Wall Street. 0:07:25.040 --> 0:07:27.400 Eighty degrees in Central Park with the heat advisory and 0:07:27.400 --> 0:07:31.160 effect through the weekend. Big problems headed to JFK this morning. 0:07:31.160 --> 0:07:35.160 The eastbound Belt parkways closed in two locations. Say more 0:07:35.160 --> 0:07:37.440 in traffic. First John Tucker with more on what's going 0:07:37.440 --> 0:07:39.400 on in New York and around the world Morning, John 0:07:39.560 --> 0:07:42.480 and Nathan. New York health officials have reported a polio 0:07:42.600 --> 0:07:45.280 case for the first time in the US in nearly 0:07:45.320 --> 0:07:48.440 a decade. The story this morning from Bloomberg's Charlie Bellett. 0:07:48.680 --> 0:07:52.920 Officials haven't offered details on who the Rockland County resident is, 0:07:53.040 --> 0:07:57.400 whether the person was vaccinated, or their current condition. State 0:07:57.440 --> 0:08:00.400 officials say it appears the person had a vack scene 0:08:00.440 --> 0:08:04.160 derived strain of the virus, perhaps from someone who got 0:08:04.360 --> 0:08:07.880 live vaccine available in other countries but not the US 0:08:07.920 --> 0:08:11.400 and spread it. Polio was once one of the nation's 0:08:11.440 --> 0:08:16.160 most feared diseases, with annual outbreaks causing thousands of cases 0:08:16.200 --> 0:08:20.720 of paralysis, many of them in children. In New York. 0:08:20.800 --> 0:08:24.360 Charlie Pellett Bloomberg Debreak, the Republican hoping to unseat New 0:08:24.440 --> 0:08:27.360 York's governor this fall, was rushed and grabbed while on 0:08:27.440 --> 0:08:31.120 stage last night by an armed man. Congressman Lee Zelden 0:08:31.200 --> 0:08:33.439 was in the middle of a campaign speech in Fairport. 0:08:33.760 --> 0:08:36.640 State assembly Member Marjorie Burns was there. She says the 0:08:36.640 --> 0:08:40.840 man grabbed Zelden and they both went down. He was 0:08:41.040 --> 0:08:44.920 armed with metal knuckles, and the metal knuckles had attached 0:08:45.000 --> 0:08:50.160 to it knives that were shaped like cat's ears. Zeldon 0:08:50.280 --> 0:08:54.160 wasn't seriously hurt and later continued his onstage speech. A 0:08:54.240 --> 0:08:57.040 third party auditor will reveal the New York State government's 0:08:57.080 --> 0:09:01.199 response to COVID nineteen, including efforts the administration of former 0:09:01.240 --> 0:09:04.360 Governor Andrew Cuombo to downplay the number of deaths of 0:09:04.440 --> 0:09:08.120 nursing home residents. Critics have said the current governor, Kathy Hoko, 0:09:08.200 --> 0:09:12.080 waited too long to launch the probe. Two teams fooling 0:09:12.080 --> 0:09:15.080 around of the water pretending to be sharks got a 0:09:15.080 --> 0:09:17.920 painful dose of the real thing. On Long Island, sixteen 0:09:17.960 --> 0:09:20.320 year old Max Haanes was bitten on the foot Wednesday 0:09:20.400 --> 0:09:23.720 evening on Fire Island. I just started paddling in. I 0:09:23.840 --> 0:09:28.120 was like, James, you better follow me. He's one of 0:09:28.320 --> 0:09:31.320 reported six people bitten by sharks in the area over 0:09:31.360 --> 0:09:34.679 the past three weeks. He's expanded to be okay now 0:09:34.679 --> 0:09:37.200 that you on Secretary Channel do to oversee the signing 0:09:37.360 --> 0:09:40.120 a deal that would allow Ukraine to resume its grain 0:09:40.200 --> 0:09:42.880 shipments to the Black Sea in Russia to export grain 0:09:42.920 --> 0:09:46.360 and fertilizers. The agreement expanted to be signed today would 0:09:46.360 --> 0:09:50.240 have to standoff that has threatened world food security. Global 0:09:50.280 --> 0:09:52.880 News twenty four hours a day on air and Bloomberg 0:09:52.920 --> 0:09:55.760 Quick Day, powered by more than twenty seven journalists and 0:09:55.800 --> 0:09:59.280 analysts and more than one twenty countries. I'm John Tucker, 0:09:59.400 --> 0:10:06.839 theseis Berg Nason. Thank you John. Coming up to five 0:10:06.880 --> 0:10:09.240 ten on Wall Street time for the Bloomberg Sports Update. 0:10:09.320 --> 0:10:13.200 Good morning, John Sash. The only way of the Yankees 0:10:13.200 --> 0:10:15.160 will see the Houston Astros again this season is if 0:10:15.200 --> 0:10:18.160 they both make it to the American League Championship Series. 0:10:18.200 --> 0:10:20.240 The two teams far and away the two best in 0:10:20.280 --> 0:10:21.720 the a L, and while the Yanks still have the 0:10:21.720 --> 0:10:24.080 better record, it's now by only two and a half games. 0:10:24.080 --> 0:10:27.439 In The Astros dominated the regular season series. They went 0:10:27.480 --> 0:10:29.360 five and two that included a no hitter in the 0:10:29.360 --> 0:10:32.520 Bronx and the two Yankee wins. They're only leads where 0:10:32.520 --> 0:10:34.760 when they walked the games off double Letter and Houston. 0:10:34.840 --> 0:10:37.400 The opener was the close one Yanks trail to one. 0:10:37.480 --> 0:10:39.320 With two outs of the ninth inning, they sent up 0:10:39.640 --> 0:10:42.240 I k f As a pinch hitter. The O one 0:10:42.360 --> 0:10:49.360 from Nerris grounded to the left side back casings Field 0:10:49.520 --> 0:10:55.920 picks coming home. He will store Piner whoever comes through 0:10:56.440 --> 0:10:59.160 to tie this game at two in the Cup with 0:10:59.200 --> 0:11:01.120 the Astros score but two outs to the bottom the 0:11:01.200 --> 0:11:03.319 ninth to win three two. Then they took the nightcap 0:11:03.440 --> 0:11:05.439 seven five, only that close because of an oar and 0:11:05.520 --> 0:11:07.920 Judge three run homer. The ninth is thirty four. The 0:11:08.080 --> 0:11:11.160 Yankees team batting average in the seven games versus the 0:11:11.160 --> 0:11:14.440 Astros one fifty one met sos. The Padres to night 0:11:14.520 --> 0:11:17.520 Max Schers are opposing you Darvish and fort st Lucy 0:11:17.600 --> 0:11:21.480 Jacob You grown through five innings sixty pitches a simulated game, 0:11:21.520 --> 0:11:23.880 but still no word on when he'll make his Mets 0:11:24.040 --> 0:11:26.640 season debut. This report that Scott Boris, the agent to 0:11:26.720 --> 0:11:29.600 Wan Soto, has told teams that the team Soto wants 0:11:29.640 --> 0:11:32.800 to be traded to the Mets whether Washington agrees would 0:11:32.800 --> 0:11:35.000 be willing to trade him to a division foe could 0:11:35.040 --> 0:11:37.080 be another Matters training camp gets set to begin. The 0:11:37.080 --> 0:11:40.000 Arizona Cardinals have a deal with start quarterback Kyler Murray 0:11:40.040 --> 0:11:43.520 five years, two hundred and thirty million dollars. John Stashward, 0:11:43.520 --> 0:11:47.240 Bloomberg Sports, Nathan Thanks, John SMP futures down nine point 0:11:47.280 --> 0:11:51.480 staff futures up three NASTAC futures are down sixty four 0:11:51.520 --> 0:11:54.520 points ten. Your treasury is up eighteen thirty seconds. Deal 0:11:54.559 --> 0:11:56.760 two point eight zero percent yield on the two year 0:11:56.840 --> 0:12:00.880 right now three point zero four per cent. You're listening 0:12:00.920 --> 0:12:08.520 to Bloomberg Day Break Bloomberg eleven three O Weather, the 0:12:08.559 --> 0:12:11.360 Heat Advisory and Effect till eight p m. Sunday. Low 0:12:11.480 --> 0:12:15.320 nineties today, mid nineties tomorrow, could hit a hundred by Sunday. 0:12:15.440 --> 0:12:19.240 We finally get a break on Tuesday. Right now eighty degrees. 0:12:22.080 --> 0:12:25.480 Markets headlines and breaking news twenty four hours a day 0:12:25.600 --> 0:12:28.560 at Bloomberg dot Com, the Bloomberg Business Out and at 0:12:28.600 --> 0:12:38.520 Bloomberg Quicktape. He's a Bloomberg Business Flash, and I'm Karen 0:12:38.600 --> 0:12:42.200 Moscow and European as stocks swinging to gains from losses, 0:12:42.280 --> 0:12:45.199 joining a global equity rebound as investors look to second 0:12:45.240 --> 0:12:47.760 quarter earning season to gauge how companies are weathering the 0:12:47.760 --> 0:12:51.080 impact of surging prices. Fonds in the dollar rising, SNP 0:12:51.280 --> 0:12:53.720 futures are lower. We checked the markets every fifteen minutes 0:12:53.720 --> 0:12:55.959 throughout the trading day on Bloomberg. Right now, S and 0:12:56.000 --> 0:12:59.240 P futures are down seven points. Now futures are a 0:12:59.240 --> 0:13:02.440 little changed, and nasday future is down fifties six. The 0:13:02.520 --> 0:13:05.240 decks in Germany's up half percent. The ten year treasury 0:13:05.240 --> 0:13:07.960 of nineteen thirty seconds held two point eight zero percent. 0:13:08.000 --> 0:13:11.120 They yield on the two year three point zero four percent. 0:13:11.559 --> 0:13:13.920 Nine X Screwed oil is little changed at ninety six 0:13:13.920 --> 0:13:16.480 dollars thirty nine cents of barrel. Comic school that a 0:13:16.559 --> 0:13:19.280 quarter percent or four dollars fifty cents is seventeen thirty 0:13:19.320 --> 0:13:22.480 five eighty announce. The euro one point zero one five 0:13:22.559 --> 0:13:24.880 seven against the dollar British bound one point one nine 0:13:25.080 --> 0:13:27.679 five nine, and the yen is at one thirty seven 0:13:27.720 --> 0:13:30.600 point four to and Bitcoin this morning is higher, up 0:13:30.600 --> 0:13:33.520 one point four percent at twenty three pound four hundred 0:13:33.559 --> 0:13:35.960 forty eight dollars. And today we get earnings from companies 0:13:35.960 --> 0:13:39.640 including American Express and Twitter. That's a Bloomberg business flash. 0:13:39.679 --> 0:13:42.120 Now here's John Tucker with more unless going on around 0:13:42.120 --> 0:13:44.240 the world. John, good Morning and Care of the House. 0:13:44.320 --> 0:13:47.240 January six Committee laid down the nearly minute by minute 0:13:47.240 --> 0:13:50.520 case last night that former President Trump allowed the violence 0:13:50.559 --> 0:13:53.760 of the capital to unfold despite place from his closest 0:13:53.760 --> 0:13:56.520 inner circle to call it off and con see the election. 0:13:56.720 --> 0:13:59.839 Here's Committee Vice Cheer Liz Cheney. Donald Trump made a 0:14:00.040 --> 0:14:05.320 purposeful choice to violate his oath of office, to ignore 0:14:05.679 --> 0:14:11.400 the ongoing violence against law enforcement, to threaten our constitutional order. 0:14:12.200 --> 0:14:16.120 There is no way to excuse that behavior. It was indefensible. 0:14:16.320 --> 0:14:18.960 Vice Cheer Cheney says there will be more public hearings 0:14:19.000 --> 0:14:22.800 in September, with more evidence and witnesses still coming forward. 0:14:23.200 --> 0:14:26.600 Sports Baseball back following the All Star Game, the Yankees 0:14:26.640 --> 0:14:29.440 get swept by the Astros and a double header. They 0:14:29.800 --> 0:14:32.800 split a twin bill with the Tigers. The Giants fall 0:14:32.920 --> 0:14:36.400 to the Dodgers. Six Global News twenty four hours a 0:14:36.440 --> 0:14:39.160 day on airund on Bloomberg Quicktake Power by more than 0:14:39.200 --> 0:14:42.280 twenty seven hundred journalists and analysts. It more than one 0:14:42.720 --> 0:14:45.960 and twenty countries. I'm John Tucker, This is Bloomberg. Nathan, 0:14:46.120 --> 0:14:48.240 all right, John, thank you. It's five nineteen on Wall 0:14:48.280 --> 0:14:51.120 Street Live from the Bloomberg Interactive Broker Studios. This is 0:14:51.120 --> 0:14:53.760 Bloomberg Daybreak and let's get more now. When we heard 0:14:53.840 --> 0:14:57.120 last night from the January six Committee as second prime 0:14:57.200 --> 0:15:00.640 time hearing, eighth overall, Joe Matthews with us this morning, 0:15:00.640 --> 0:15:05.000 our Washington correspondent, host of Sound On here on Bloomberg Radio. Joe, 0:15:05.040 --> 0:15:08.120 I think maybe one of the key takeaway lines, perhaps 0:15:08.160 --> 0:15:11.040 from one of the committee members, was that former President 0:15:11.080 --> 0:15:15.720 Trump not only failed to act, he chose not to act. Yeah. 0:15:15.760 --> 0:15:18.360 That was Adam Kinsinger, one of the two Republicans along 0:15:18.360 --> 0:15:21.240 with Liz Cheney, who we just heard on the panel, 0:15:21.320 --> 0:15:23.120 and and he helped to walk us through what what 0:15:23.240 --> 0:15:26.400 he described as the TikTok and that one eighty seven 0:15:26.400 --> 0:15:31.680 minutes in which then President Donald Trump basically watched television. 0:15:31.720 --> 0:15:34.040 As we understand, there was there was a gap in 0:15:34.040 --> 0:15:37.400 in in exactly the recording of exactly what happened in 0:15:37.440 --> 0:15:39.600 that three plus hours, and the President for the most 0:15:39.600 --> 0:15:43.240 part was in the dining room just off the Oval 0:15:43.280 --> 0:15:47.480 Office watching television. The White House photographer was not allowed 0:15:47.520 --> 0:15:49.800 in the room. And he made a series of telephone 0:15:49.800 --> 0:15:52.800 calls to individuals, including Rudy Giuliani, but none to law 0:15:52.880 --> 0:15:55.880 enforcement to help quell the riot that was happening on 0:15:55.920 --> 0:15:58.360 the other end of Pennsylvania Avenue. Yeah. Interesting that you 0:15:58.400 --> 0:16:03.440 point out that the president didn't want potentially photographers in 0:16:03.480 --> 0:16:05.360 the room with him, and of course there was a 0:16:05.400 --> 0:16:10.040 lot of evidence that callogg's were pretty much empty. Uh 0:16:10.120 --> 0:16:13.880 during that time. Almost sounds as though the January six 0:16:13.920 --> 0:16:17.200 Committee is alluding to the possibility of a cover up 0:16:17.440 --> 0:16:19.560 of what the President was doing that day. Well, whether 0:16:19.600 --> 0:16:21.280 you want to use that word or not, that you're 0:16:21.320 --> 0:16:23.600 you're going in the right direction here, Nathan. And we know, 0:16:23.680 --> 0:16:25.800 of course that there are great concerns about what happened 0:16:25.800 --> 0:16:29.280 to the communications among the Secret Service who we're working 0:16:29.280 --> 0:16:33.720 that day. There's one text message left from that entire experience. Uh. 0:16:33.760 --> 0:16:35.920 They're blaming this on a reboot of the phone system, 0:16:35.920 --> 0:16:37.640 but of course there could be a lot more involved 0:16:37.640 --> 0:16:40.200 in this. Is as Benny Thompson said last night, the 0:16:40.280 --> 0:16:43.720 chair of this committee, the damn is breaking. They're hearing 0:16:43.760 --> 0:16:46.720 from so many new witnesses and seeing so much evidence 0:16:46.720 --> 0:16:48.960 at this point now with regard to what you're describing that. 0:16:49.000 --> 0:16:51.880 I suspect we'll see more hearings as we get into September. Yeah, 0:16:51.880 --> 0:16:54.360 as Liz Cheney said that we would see more hearings 0:16:54.400 --> 0:16:58.800 in September. What further evidence could we get as this 0:16:59.000 --> 0:17:02.200 summer rolls on? Here? Of course, we've got the contempt 0:17:02.200 --> 0:17:06.600 of Congress hearing continuing with former why Trump advisor Steve 0:17:06.640 --> 0:17:09.480 Bannon as well. That's true, and and there's UH the 0:17:09.520 --> 0:17:12.480 matter of witness tampering. I actually thought we might hear 0:17:12.480 --> 0:17:15.720 more about this last night, recalling the previous UH hearing 0:17:15.720 --> 0:17:19.439 in which Liz Cheney made clear that Donald Trump attempted 0:17:19.480 --> 0:17:22.199 to contact tried to call one of the witnesses that 0:17:22.280 --> 0:17:24.919 the committee was in touch with. They forwarded that to 0:17:24.960 --> 0:17:29.720 the Department of Justice UH with with real concerns that 0:17:29.800 --> 0:17:33.960 this could in fact be a greater case involving witness 0:17:34.000 --> 0:17:36.959 tampering along with sedition and some of the other charges 0:17:36.960 --> 0:17:38.560 that we've heard about. But this is gonna be up 0:17:38.560 --> 0:17:41.080 to Merrick Garland now. The Department of Justice, of course, 0:17:41.200 --> 0:17:44.040 is conducting its own investigation, and we don't know, Nathan, 0:17:44.080 --> 0:17:46.199 when we'll get a final report from the committee. This 0:17:46.280 --> 0:17:49.800 idea of having further hearings with more evidence does kind 0:17:49.800 --> 0:17:51.920 of throw the timeline up in the air here. If 0:17:51.960 --> 0:17:54.800 Republicans win the majority in the House, as many expect 0:17:54.880 --> 0:17:57.960 in November, they could they could simply liquidate if if 0:17:57.960 --> 0:18:01.040 you will, dissolve this this amittee and then turn around 0:18:01.040 --> 0:18:05.040 and investigate the investigators. And I raises the question, of course, 0:18:05.119 --> 0:18:08.280 of whether this final report, if it does come out, 0:18:08.400 --> 0:18:11.680 comes closer to the November election and a mid term. 0:18:11.840 --> 0:18:14.919 Is there some thinking in the committee, Joe, that there's 0:18:14.960 --> 0:18:20.199 a possibility that they want this January six conversation to 0:18:20.320 --> 0:18:23.000 be part of the conversation that voters have with themselves 0:18:23.080 --> 0:18:24.960 as they had to the polls. I'm sure the committee 0:18:24.960 --> 0:18:28.080 members would yes, But there's also been concerned among Democrats 0:18:28.080 --> 0:18:30.560 that this could be just reek of politics if it 0:18:30.600 --> 0:18:32.480 gets too close to November, and they wanted this to 0:18:32.520 --> 0:18:34.760 be wrapped up a little bit earlier so they could 0:18:34.760 --> 0:18:37.760 then take that final report and talk about it as 0:18:37.800 --> 0:18:40.640 opposed to this being an open case when the polls 0:18:40.720 --> 0:18:43.359 are open. Uh if if you can think about it 0:18:43.400 --> 0:18:45.840 that way. But look, we're going to get an interim report. 0:18:45.880 --> 0:18:48.320 We have heard that much. That will likely come soon. 0:18:49.000 --> 0:18:51.560 But then the can is still open here. We don't 0:18:51.560 --> 0:18:53.440 know exactly where the committee is gonna be going or 0:18:53.480 --> 0:18:55.760 the d O J as we head into November. Joe 0:18:55.800 --> 0:18:59.640 Matthew are Washington correspondent with us this morning after the 0:19:00.000 --> 0:19:03.239 time time January six, hearing. We're gonna check back in 0:19:03.280 --> 0:19:06.200 with Joe later here on Bloomberg Daybreak for more on 0:19:06.359 --> 0:19:10.639 the committee's proceedings as well, of course, as a President 0:19:10.680 --> 0:19:15.080 Biden uh now facing COVID, isolating in the White House, 0:19:15.119 --> 0:19:18.680 continuing to work, but the White House sort of using 0:19:18.720 --> 0:19:22.439 his case, perhaps as a symbol of how to tackle 0:19:22.520 --> 0:19:28.720 the pandemic, with vaccinations and prophylactics now part of the mix. Joe, 0:19:28.840 --> 0:19:32.760 thanks as always. SMP futures right now down eight points down, 0:19:32.800 --> 0:19:37.160 futures up eight points. Nasdaq futures are lower by sixty 0:19:37.200 --> 0:19:40.280 two points right now, the tenure Treasury surging this morning, 0:19:40.320 --> 0:19:42.880 up twenty thirty seconds, the yield now two point eight 0:19:42.960 --> 0:19:45.040 zero percent, and the yield on the two year right 0:19:45.080 --> 0:19:49.080 now three point zero three percent. Nim X screw little 0:19:49.119 --> 0:19:52.080 changed right now up six cents nineties six dollars forty 0:19:52.080 --> 0:19:55.920 one cents of Veraril bitcoin just shy of twenty three thousand, 0:19:55.920 --> 0:19:59.600 five hundred. Stay with us. You are listening to Bloomberg 0:19:59.680 --> 0:20:09.920 Dave Bloomberg eleven three oh weather heat Advisory till eight 0:20:10.160 --> 0:20:12.960 Sunday night. We're gonna be in the low nineties today, 0:20:13.080 --> 0:20:17.080 mid nineties tomorrow, could hit a hundred by Sunday. Right 0:20:17.080 --> 0:20:26.639 now eighty degrees in Central Park. Broadcasting live from the 0:20:26.680 --> 0:20:30.920 Bloomberg Interacted Broker Studio in New York, Bloomberg Living Free 0:20:31.240 --> 0:20:35.359 to Washington, d C. Bloomberg to Boston, Bloomberg one O 0:20:35.560 --> 0:20:39.080 six one to San Francisco, Bloomberg nine six to the country, 0:20:39.160 --> 0:20:42.280 Sirius XM Chado one nineteen and around the globe to 0:20:42.359 --> 0:20:46.840 Bloomberg Business and Bloomberg Radio dot Com. This is Bloomberg 0:20:46.960 --> 0:20:55.080 Daybreak and it's five thirty on Wall Street. Good morning. 0:20:55.080 --> 0:20:58.120 I'm Karen Moscow, I'm Nathan Hagar. We're just about four 0:20:58.119 --> 0:21:00.280 hours away from the open of US trading. Let's sketch 0:21:00.359 --> 0:21:01.639 up to date on the news you need to know 0:21:01.680 --> 0:21:04.240 at this hour. The January six Committee laid out a 0:21:04.280 --> 0:21:07.080 nearly minute by minute case last night that former President 0:21:07.119 --> 0:21:09.639 Donald Trump ignored the pleas of his inner circle and 0:21:09.680 --> 0:21:12.440 allowed the violence to unfold at the Capitol last year. 0:21:12.480 --> 0:21:16.160 Here's Committee Democrat Elaine Laurian. President Trump did not then 0:21:16.320 --> 0:21:20.840 and does not now have the character or courage to 0:21:20.960 --> 0:21:24.159 say to the American people what his own people know 0:21:24.320 --> 0:21:28.280 to be true. He is responsible for the attack on 0:21:28.320 --> 0:21:32.399 the Capitol on January six. Demcrad Elane Lauria is speaking 0:21:32.400 --> 0:21:34.800 at last night's hearing, which won't be the last. Committee 0:21:34.840 --> 0:21:36.760 Vice chair List Cheney says there will be more in 0:21:36.800 --> 0:21:40.199 September as evidence and witnesses continue to roll in. Well, 0:21:40.240 --> 0:21:43.600 another major story we're following this morning, Nathan out of Washington, 0:21:43.680 --> 0:21:46.960 involves President Biden testing positive for COVID. So far, the 0:21:46.960 --> 0:21:50.840 President says symptoms are mild, even double vaccinated, double boosted, 0:21:51.080 --> 0:21:54.320 symptoms are mild and uh and I really appreciate your 0:21:54.440 --> 0:21:57.439 creative concern. And President Biden is a bit fatigued and 0:21:57.480 --> 0:22:00.560 has other mild symptoms, according to White House Press Secretary 0:22:00.680 --> 0:22:04.320 Karine Jean Pierre, Chinese President Jinping has sent the message 0:22:04.359 --> 0:22:07.280 to President Biden carring wishing him a quick recovery. That's 0:22:07.280 --> 0:22:10.920 according to Chinese media. The president joins a rising national 0:22:10.960 --> 0:22:14.280 COVID wave dominated by a new variant. Bloomberg's Grenita Young 0:22:14.400 --> 0:22:17.159 joins US Live with markod Morning, Granita, Good morning, Nathan. 0:22:17.280 --> 0:22:20.680 This variant, known as be a point five easily evades 0:22:20.720 --> 0:22:24.320