Speaker 1: Live from the Bloomberg into Rap Day Brooker Studios is
Speaker 1: his Bloomberg Daybreak for Friday, March four. Coming up this hour,
Speaker 1: Russian forces occupy Europe's largest nuclear power plant. Stocks drop
Speaker 1: as the war in Ukraine escalates, Commodities wrap up a
Speaker 1: historic week as oil and metals soar, and investors look
Speaker 1: ahead to the February jobs report. New York City Mayor
Speaker 1: Adams could announce today he's in COVID restrictions, plus the
Speaker 1: blowbat from Moscow's invasion in Ukraine hits Russian connected gas
Speaker 1: stations in Newark. On Michael lar More Ahead, I'm John
Speaker 1: Stas shown sports Kevin Durant returned to the next lineup.
Speaker 1: They still lost to the heat in Brooklyn. The Islanders
Speaker 1: lost the Vancouver That's all straight Ahead on Bloomberg Daybreak
Speaker 1: on Bloomberg eleven, Trio, New York, Bloomberg one, Washington, d C,
Speaker 1: Bloomberg one O six one, Boston, Bloomberg nine sixty, San Francisco,
Speaker 1: Sirius x M one nine Team and around the world
Speaker 1: Old on Bloomberg Radio dot Com and via the Bloomberg
Speaker 1: Business Set. Good morning, I'm Nathan Hagar, and I'm far
Speaker 1: in Moscow and us OFT index futures are falling this
Speaker 1: morning as war risks intensify. We're coming up to six
Speaker 1: o one on Wall Street, and we checked the markets
Speaker 1: every fifteen minutes throughout the trading day. On Bloomberg, U
Speaker 1: S and P future is down thirty five down, futures
Speaker 1: down two hundred sixty four, nasdack futures down one hundred six.
Speaker 1: The decks in Germany is down three point four percent.
Speaker 1: The ten year treasury up nineteen thirty seconds. He had
Speaker 1: one point seven seven percent, and they yield on the
Speaker 1: two year at one point for seven percent. Nathan, all right, Karen,
Speaker 1: we'll get back to markets in a minute. But the
Speaker 1: stakes have been raised even higher in Russia's war with Ukraine.
Speaker 1: Russian forces are now occupying Europe's largest nuclear plant after
Speaker 1: shelling at the facility overnight sparked a fire. Ukrainian President
Speaker 1: Vladimir z Linsky says Europe needs to wake up. If
Speaker 1: there's an explosion, that's the end for everyone, the end
Speaker 1: for Europe, the evacuation of your. Only urgent action by
Speaker 1: Europe can stop the Russian troops do not allow the
Speaker 1: death of Europe from a catastrophe at a nuclear power station.
Speaker 1: President Zelinski is appealing to Russian President Vladimir Putin to
Speaker 1: meet with him. Is the only way to stop the war.
Speaker 1: Secretary of State Antony B. Lincoln says, the world stands
Speaker 1: ready to assist Ukraine. We seek no conflict, but if
Speaker 1: constantly comes to us, we're ready for it and we
Speaker 1: will defend every inch spret NATO Territory. Secretary Blincoln is
Speaker 1: meeting with NATO ministers in Brussels. The White House says
Speaker 1: President Biden is being briefed on the situation, but right
Speaker 1: now the US says it's not detecting elevated radiation levels
Speaker 1: at the nuclear site. Meanwhile, Nathan, the rush to flee
Speaker 1: Ukraine is for some very tough decisions for more than
Speaker 1: a million people. On Bloomberg's Dead Bachelor has more over
Speaker 1: a million people, with a forecast that possibly four million
Speaker 1: more refugees, and El Shaker, the International Deputy Director of
Speaker 1: Refugee International, tales Bloomberg families are being split up. Sometimes
Speaker 1: if it's just a father puts this child on a
Speaker 1: bus and here rise in Poland. The father may stay
Speaker 1: to help. So on a company, children are arriving in
Speaker 1: dainty extra protections, and some of these are only on
Speaker 1: fourteen day temporary visas. In San Francisco. I'm at Baxter
Speaker 1: Bloomberg daybreak. Okay, and thanks. As the US and allies
Speaker 1: choke off investor demand for Russian assets, parts of Wall
Speaker 1: Street are jumping on the buying opportunity. Sources say Goldman,
Speaker 1: Sax and JP Morgan Chase have been purchasing beaten down
Speaker 1: company bonds tide to Russia in recent days. Well, Nathan,
Speaker 1: the Russian stock market remains closed while stocks and you're
Speaker 1: a plunge over the latest developments in Ukraine, and we
Speaker 1: go live to London and get the latest with the
Speaker 1: Bloomberg's Max Ramsey Max. Morning to you, Karen and Nathan.
Speaker 1: Another day of losses in Europe. The price action is
Speaker 1: pretty punishing across the continents. Day the stock six hundred
Speaker 1: two point nine percent, the foot See one hundred down
Speaker 1: three percent, and the docks in Germany leads losses down
Speaker 1: three point seven percent. We see this risk off move
Speaker 1: in bond markets as well. The German tenure bun yield
Speaker 1: folding five basis points negative point oh three percent. The
Speaker 1: yield there as you mentioned the Russian stock market remains
Speaker 1: shut and stay so until at least Wednesday. It's a
Speaker 1: record in the country's modern history. They're looking to safeguard
Speaker 1: domestic investors from the effects of these sanctions. Life from London,
Speaker 1: Max Ramsey, Bloomberg daybreak. All right, Max. We also saw
Speaker 1: losses in Asia overnight. Let's get that recamp from Bloomberg's
Speaker 1: Juliet Sally In Singapore, Good morning, Juliet, Good morning, Nathan
Speaker 1: and Karen. The MSCI Asia Pacific Index fell to a
Speaker 1: fresh sixteen month loyal weighed down by losses in Japan
Speaker 1: and Hong Kong, thenicate to to five paired earlier losses
Speaker 1: of as much as three percent. It closed lower by
Speaker 1: two point two percent. In Tokyo. Chinese tech players were dumped,
Speaker 1: with an index of tex sharres listed in Hong Kong
Speaker 1: falling to its lowest since inception, and the h Shares
Speaker 1: index is trading near six year loan. Over the course
Speaker 1: of the week, the ms CI Asia Pacific Index fell
Speaker 1: by as much as one point eight percent. It's third
Speaker 1: weekly loss in Singapore. Juliet Sally Bloomberg dead break, All right, thanks, Juliette.
Speaker 1: Commodities are wrapping up a historic week as Russia's invasion
Speaker 1: of Ukraine royals markets. We get the latest life from
Speaker 1: Bloomberg's rere need a Young, Good morning, Ready down, Good morning, Karen.
Speaker 1: Soaring commodities prices and crude to aluminum and wheat are
Speaker 1: adding to hot inflationary pressures that's hurting consumers and fueling
Speaker 1: concerns over an economic slowdown. As a result, the Bloomberg
Speaker 1: Commodity Spot Index has rallied more than nine percent this week.
Speaker 1: Oil is heading for its biggest weekly surgeon almost two years.
Speaker 1: Brent crude which is almost it almost hit a hundred
Speaker 1: twenty dollars yesterday. It's now trading at just over a
Speaker 1: hundred and twelve dollars a barrel. Prices for wheat, aluminum, nickel,
Speaker 1: and crude are all expected to continue rising. Live in
Speaker 1: New York. I'm Renita Young Bloomberg day break right, Renita. Thanks.
Speaker 1: Despite the surgeon oil prices and the Russian invasion of Ukraine,
Speaker 1: Fed Chair j Palace sticking to plans to raise raids
Speaker 1: beginning later this month. I would be recommending and supporting
Speaker 1: a one quarter of one percent interest rate increase at
Speaker 1: our March meeting. If we don't see inflation behaving as
Speaker 1: we expected to behave, which is to peek and begin
Speaker 1: to come down. If we see inflation behaving in ways
Speaker 1: not consistent with that, then we're prepared to raise my
Speaker 1: more than that amount in a meeting or meetings, FED
Speaker 1: Chair j Pow reiterated the rate hike plan during two
Speaker 1: days of congressional testimony. The FEDS two day Policy Meeting
Speaker 1: begins March fift Well, Nathan. The feds next major economic
Speaker 1: data point comes later this morning with the release of
Speaker 1: the February Jobs Are Poor and Are We get a
Speaker 1: preview from Bloomberg's Michael McKee. The consensus is that as
Speaker 1: the O Macron COVID variant faded in February, hiring probably
Speaker 1: picked up and was forecast another large gaining jobs restored
Speaker 1: and a drop in the unemployment rate back below four percent.
Speaker 1: Although the Russian War will cap the impact of this
Speaker 1: employment report, Federal Reserve officials will be interested in the
Speaker 1: strength of hourly earnings as they watch for signs high
Speaker 1: inflation may be becoming embedded in the economy. The FED
Speaker 1: is also interested in the labor force participation rate, how
Speaker 1: many people are out looking for a job this week.
Speaker 1: Chairman J Powell told Congress policymakers don't know why so
Speaker 1: many people are staying home, but he expressed hope that
Speaker 1: hiring will pick up as COVID eases. Michael McKee Bloomberg Daybreak. Okay, Mike,
Speaker 1: thanks SMP futures down thirty five points down, futures down
Speaker 1: two d sixty eight and astack futures lower by a
Speaker 1: hundred points. The tenure treasury of eighteen thirty seconds, the
Speaker 1: yield one point seven seven. NIMEX screwed up two point
Speaker 1: two hundred ten dollars eight cents of barrel the euro
Speaker 1: at one ten to the dollar. Straight ahead your latest
Speaker 1: local headlines in the check of sports. This is Bloomberg
Speaker 1: Sounds six o seven on Wall Street where twenty one
Speaker 1: degrees in Central Park, A boy the FDR drive a
Speaker 1: vehicle fire on the northbound side as UH, causing serious delays.
Speaker 1: Michael Barr has more on what's going on in New
Speaker 1: York and around the world. Michael, thank you very much. Nathan.
Speaker 1: This could be a big day in New York City's
Speaker 1: progress against COVID. Nineteen Mayor Eric Adams could announce as
Speaker 1: soon as today to lift mask mandates and schools and
Speaker 1: vaccination requirements and restaurants, bars, and theaters, while infections, hospitalizations,
Speaker 1: and deaths continue to move Adams, it could signal a
Speaker 1: turning point in the pandemic to a return to normalcy
Speaker 1: if he makes the decision today. Meanwhile, New York City's
Speaker 1: Health Department says COVID hospitalizations saw the biggest racial gap
Speaker 1: during O Macron. Black New Yorkers were hospitalized at two
Speaker 1: times the rate of White New Yorkers during the winter
Speaker 1: O Macron surge. Gas prices have shot up across the
Speaker 1: country due in large part to the Russian invasion of Ukraine.
Speaker 1: It's causing a sharp rise in oil prices in North Carolina.
Speaker 1: For example, the price of a gallon of regular at
Speaker 1: an Exxon gas station and Raleigh had closed to four
Speaker 1: dollars twenty cents. This Raley mom says even their teenagers
Speaker 1: are feeling the pinch. I have kids that just started driving,
Speaker 1: and I know that their love and the experience, but
Speaker 1: even they are completely overwhelmed by the end of their paycheck.
Speaker 1: You know, how do I get back and forth to work.
Speaker 1: Los Angeles is now averaging more than five dollars outraged
Speaker 1: by the invasion of Ukraine, lawmakers in New Jersey's largest
Speaker 1: city took aim at the Russian franchise loo Oyal Gas Stations.
Speaker 1: The New York City Council voted unanimously to suspend the
Speaker 1: service stations operating licenses, citing Luke Oil's base in Moscow. However,
Speaker 1: the stations are franchises owned by locals, not Russians, and
Speaker 1: they employ mostly New Jersey residents. President Biden's signed bipartisan
Speaker 1: legislation that prohibits the use of forest arbitration and sexual
Speaker 1: assault and harassment claims in the workplace. President Biden says
Speaker 1: the Forest Arbitration of Sexual Assault and Harassment Act ends
Speaker 1: a secretive practice that is often used to shield perpetrators
Speaker 1: from full and public accountability. There will be cases where
Speaker 1: victims want their claims resolved in private, but some survivors
Speaker 1: will want their day in court, and that should be
Speaker 1: their choice and nobody else's church. The President says. The
Speaker 1: new law profoundly changes the way businesses handles sexual abuse allegations.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg quick Take, powered by more than twenty seven
Speaker 1: under journalist and analyist more than twenty countries. Michael bar
Speaker 1: this is Bloomberg NA. Okay, Michael, thank you. We're coming
Speaker 1: up to six ten on Wall Street. Time for the
Speaker 1: Bloomberg Sports Update with John Sesshire. Thanks Nathan, welcome back.
Speaker 1: Kevin Durant, first game for the Nets after missing twenty
Speaker 1: one with an injury. Same old Katie. Thirty one points
Speaker 1: in thirty five minutes, but the Nets lost at Park
Speaker 1: least to East lead. In Miami one thirteen one o seven.
Speaker 1: The Heat were coming off a blown lead a one
Speaker 1: point lost the night before. In Milwaukee. They gave three
Speaker 1: starters the night off, but Bam out of Bio played
Speaker 1: He scored thirty and the Nets have now lost sixteen
Speaker 1: of their last nineteen to drop down to five hundred.
Speaker 1: They played Sunday in Boston. The Celtics just beating Memphis.
Speaker 1: They've won thirteen of fifteen. The Knicks like the Nets,
Speaker 1: losers of sixteen the last nineteen, and talk about it
Speaker 1: not getting any easier. Next to night in Phoenix, the
Speaker 1: Sons are an NBA best fifty and twelve at the
Speaker 1: ub S Arena. Islanders had a third period lead Vancouver
Speaker 1: two goals forty five seconds apart midways to the third.
Speaker 1: The Canucks won four to three, so they went two
Speaker 1: and one on their tour. Of the three New York
Speaker 1: Area teams, the Isles have now lost eight of the
Speaker 1: last eleven college It's rare loss for Iona in Riverdale,
Speaker 1: Manhattan's forward for the second left one by two. Iona
Speaker 1: has dominated the mat but needs to win the upcoming
Speaker 1: conference tournament to gain entry to the MT Double A.
Speaker 1: The big college basketball story is the game tomorrow North
Speaker 1: Carolina at Duke Final, long game for Duke's legendary coach.
Speaker 1: Like I've tried never to look in the past too
Speaker 1: much or or in the future, but you know a
Speaker 1: little bit of thinking yesterday your last game in camera? Right,
Speaker 1: It's crazy, you know, how how did that happen? Coach
Speaker 1: the Duke for forty two years, most wins and into
Speaker 1: double A history, John Stay actually were Bloomberg Sports, Thanks John.
Speaker 1: Sp Futures down down thirty four points down. Futures down
Speaker 1: two undred sixty six. Dan stack futures are lower by
Speaker 1: ninety three points. The tenure treasury yield one point seven
Speaker 1: seven percent. The euro now one points your own nine
Speaker 1: nine five against the dollar, lowest level since May This
Speaker 1: is Bloomberg. Bloomberg Daybreak, brought to you by Audie. Don't
Speaker 1: let someone else drive off in the outie model you've
Speaker 1: always wanted. Visit a try state autie healer to get
Speaker 1: behind the wheel of yours. Today, Markets headlines and breaking
Speaker 1: news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business Outland at Bloomberg Quick Tape. This is
Speaker 1: a Bloomberg Business Flash and I'm parrot. Moscow stocks are
Speaker 1: falling along with US stock index futures this morning as
Speaker 1: war risks in tensify after a Ukrainian nuclear power plant
Speaker 1: briefly caught fire. We checked the markets every fifteen minutes
Speaker 1: throughout the trading day on Bloomberg Right Now. S and
Speaker 1: P futures down forty points down, futures down three hundred
Speaker 1: eight nasdack futures down one twenty two. The decks in
Speaker 1: Germany is down three point six per cent. The ten
Speaker 1: year treasury of eighteen thirty seconds he had one point
Speaker 1: seven seven per cent. They yield on the two year
Speaker 1: one point four nine percent. Nine meg Screwed oil is
Speaker 1: up to per cent, up two dollars nineteen cents and
Speaker 1: a hundred nine dollars eighty seven eighty seven cents of
Speaker 1: barrel comes. Gold is up seven tenths per cent, or
Speaker 1: thirty dollars forty cents at nineteen forty nine fifty announced.
Speaker 1: The euro one five against the dollar, British pound one
Speaker 1: point three two nine six, the yen is at one
Speaker 1: fifteen point three five and checking nitcoin this morning lower
Speaker 1: down one point one percent. It's at forty one thousand,
Speaker 1: six hundred thirty dollars. And today, of course we're watching
Speaker 1: for the February jobs are for it. It's at eight
Speaker 1: thirty Wall Street time. That's a Bloomberg business flash. Now
Speaker 1: here's Michael Barr with Laura Unless going on around the world.
Speaker 1: Michael Darren, thank you very much. Ukrainian authorities say a
Speaker 1: fivere at Europe's biggest nuclear plan, ignited by Russian shelling,
Speaker 1: has been extinguished and that Russian forces have taken control
Speaker 1: of the site. Ukraine State Nuclear Regulator says so far
Speaker 1: no changes in ready Asian levels have been recorded. Donald
Speaker 1: Trump Junior's fiancee has been subpoena to test VI before
Speaker 1: the House January sixth committee. The subpoenist says Kimberly Gilfoyle
Speaker 1: met with Donald Trump at the White House, spoke at
Speaker 1: the rally before the January six riot, and helped organize
Speaker 1: and raise money for the event. In the NBA, the
Speaker 1: Nets and Warriors lost, the Celtics won. In the NHL,
Speaker 1: the Islanders lost, the Bruins and Capitals won. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than twenty seven under journalists and analyst
Speaker 1: more than a hundred twenty countries. I'm Michael bar This
Speaker 1: is Bloomberg Nathan. Thanks Michael. At six nineteen on Wall
Speaker 1: Street Life from the Bloomberg Intractive Brokers Studios. This is
Speaker 1: Bloomberg Daybreak as we continue to monitor developments around the
Speaker 1: war in Ukraine. Were very pleased to be joined this
Speaker 1: morning by Andy Blocker. He's the global head of Public Policy,
Speaker 1: head of US Government Affairs at Investco. Andy, it's great
Speaker 1: to speak with you again this morning as we watch
Speaker 1: NATO ministers meeting in Brussels right now, just to get
Speaker 1: our listeners up to be the United Kingdoms Foreign Minister
Speaker 1: is now calling for an urgent U n Security Council
Speaker 1: meeting after the shelling of the nuclear plant in Ukraine,
Speaker 1: Europe's largest nuclear facility. Does this attack change the way
Speaker 1: the US and Europe approach Russia in this war? Well,
Speaker 1: they didn't. Look, the US and the Europe have really
Speaker 1: been very very strong up to this point and ratcheting
Speaker 1: up sanctions to a level that at the beginning of
Speaker 1: this didn't think they would do, with some banks being
Speaker 1: denied access to swift with the Russian Central Bank, even
Speaker 1: Switzerland joining in given their neutrality. So yes, they've done
Speaker 1: a lot until now, But I don't think this particular
Speaker 1: incident will change what the US is doing. I mean,
Speaker 1: you saw the US doing um all of darts as
Speaker 1: far as going after them and considering other options like
Speaker 1: oil and gas, which the administrations about for now, But
Speaker 1: so that incident will not in them itself. Do I
Speaker 1: think we're ratching up regardless pushback a bit. You mentioned
Speaker 1: the oil and gas still not under sanctioned. There are
Speaker 1: quite a few observers who say that the US and
Speaker 1: Europe should be targeting Russia's oil and gas to cut
Speaker 1: off financing of the war even further. What would it
Speaker 1: take to get the allies to make that step? Is
Speaker 1: it a step that should be taken? So on that.
Speaker 1: I think the whole back there is that right now
Speaker 1: Europe is not willing to go that far. I mean,
Speaker 1: as you know, Europe is much more reliant on Russian
Speaker 1: oil and gas than the US. I think it's reliance
Speaker 1: on Russian oil and forty percent reliance on Russian gas
Speaker 1: in Europe were much smaller. I think it's four to
Speaker 1: five percent in the US. It's actually a possibility. I mean,
Speaker 1: not only Center Mansion and Republicans in favor of banning
Speaker 1: Russian oil, but Speaker Pelosi's made comments. So that is
Speaker 1: a lot of pressures of administrations holding back right now
Speaker 1: and the resisting this mostly because they don't want to
Speaker 1: do anything that will exacerbate an already tenuous inflation situation.
Speaker 1: So that remains to be seen how that goes. It
Speaker 1: may take an access Congress to push the administration in
Speaker 1: that direction. There's some pressure on the administration I think
Speaker 1: to consider boosting domestic production. Is that is there any
Speaker 1: appetite at the White House to do that? I think
Speaker 1: on some level there would be some um. I think
Speaker 1: Senator Mansion's proposal is to to ban Russian oil while
Speaker 1: also increase in production of oil, gas, and coal along
Speaker 1: with clean energy. Um. I'm not sure how environmentalists will
Speaker 1: look at that, but that's the debate right now. Are
Speaker 1: there off ramps for President putin that you can see
Speaker 1: right now? What effect are the sanctions having at this
Speaker 1: point the targeting of not just the banks but the
Speaker 1: oligarchs right now, So that's the big question, Nathan, Um,
Speaker 1: what is his off ramp I think his conversation with
Speaker 1: Macron yesterday is disheartening for those who think he's gonna
Speaker 1: back down. He's saying we're moving full steam ahead. And
Speaker 1: I think this is going to be a long, bloody
Speaker 1: siege and war with Ukraine. So if he goes down
Speaker 1: that path to you know, that path, there is no
Speaker 1: offer ramp Um. And I think the Russian people ultimately
Speaker 1: are going to suffer. They've already suffered greatly with some
Speaker 1: of the Central Bank and the and the bank fensions
Speaker 1: and Um, so I think it gets worse before it
Speaker 1: gets better. I wanted to ask you a little bit further,
Speaker 1: what does the targeting the the at least the shelling
Speaker 1: of large nuclear sights now in Ukraine tell you about
Speaker 1: where this war could be going, what Russia's strategy could
Speaker 1: be Um, this is Russia's going after the infrastructure of
Speaker 1: of Ukraine. They're gonna do it's it's almost a siege
Speaker 1: UM type approach where they're just gonna wait them out
Speaker 1: and just pretty much destroy the country. So I think
Speaker 1: they're they're they're trying to take over every UM central,
Speaker 1: whether it's energy with it's communications, everything. They're trying to
Speaker 1: do everything they can to debilitate the country and UM.
Speaker 1: It's it's interesting that at one point Plutin can say, hey,
Speaker 1: U trainings are Russians, yet he would he would do
Speaker 1: all of this UM horrific things in the country. About
Speaker 1: thirty seconds left. Is there anything further that you can
Speaker 1: see that the allies in the US can do right
Speaker 1: now to help Ukrane, Well, they are doing a lot
Speaker 1: as far as helping them UM with parmaments. You've seen
Speaker 1: Germany reverse on its long staying policy of banning the
Speaker 1: export of weapons into the CONFLI zone. You see Sweden
Speaker 1: as well come in and do the same thing as
Speaker 1: well as the EU. So they're doing what they can.
Speaker 1: The US is sharing intelligence to help them UM, and
Speaker 1: there's humanitarian aid. But as far as reversal of this
Speaker 1: UM slow march is taken over a Ukraine that's really unputin.
Speaker 1: At this point, I think I'm not sure that Ukraine
Speaker 1: can hold them off in the long term. Andy Blocker,
Speaker 1: thank you for your insights. Andy Blocker's head of Global
Speaker 1: Public Policy, head of US Government Affairs at Investco. Future
Speaker 1: is moving lower. You're listening to Bloomberg day Break Bloomberg
Speaker 1: eleven three oh weather. Sunshine up for thirties today, clouds
Speaker 1: end upper forties tomorrow, Scattered showers, Breezy and mild for Sunday,
Speaker 1: with a high near sixty five degrees. Right now twenty
Speaker 1: one in Central Park, broadcasting live from the Bloomberg Interactive
Speaker 1: Broker Studio in New York, Bloomberg Eving FO to Washington,
Speaker 1: d C, Bloomberg to Boston, Bloomberg one O six one
Speaker 1: to San Francisco, Bloomberg Non sixty to the country, Sirius
Speaker 1: XM Cho one nine, and around the globe, the Bloomberg
Speaker 1: Business and Bloomberg Radio dot Com. This is Bloomberg Daybreak
Speaker 1: six thirty on Wall Street. Good morning, I'm Nathan Hagar
Speaker 1: and I'm Karen Moscow, and we're just about three hours
Speaker 1: away from the open of US trading. It's time for
Speaker 1: the five things you need to notice start your day.
Speaker 1: Bronze you by interactive brokers trade crypto for less going
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Speaker 1: slash crypto. At first, Russia now occupying the largest nuclear
Speaker 1: side in Europe. Overnight Shelling started a fire at this
Speaker 1: operation nuclear plant. Ukrainian Energy Minister Hermann Hallushenko tells us
Speaker 1: this raises the stakes in the war. One example of
Speaker 1: the parigia could be repeated in in Uh, in the
Speaker 1: other stations, on the other units. And and that's why
Speaker 1: we ask for clothing the sky. We don't see any
Speaker 1: other possibilities. Herman Hellushenko spoke on Bloomberg Television. The US
Speaker 1: Energy Department says it's activated it's nuclear incident Response team,
Speaker 1: but right now it doesn't see elevated radiation levels. The
Speaker 1: US futures and stocks overseas are falling as the war escalates.
Speaker 1: Caaring right now, SMP five dred futures are down three
Speaker 1: quarters of one percent. Major European averages and stocks in
Speaker 1: Asia are lower between two and three percent, and commodities
Speaker 1: are happing up a historic week, Nathan as Russia's invasion
Speaker 1: of Ukraine royals markets. We get the latest lie from
Speaker 1: Bloomberg's Real Need a young good Morning, Ready to good morning,
Speaker 1: Karen's soaring commodities prices from crewe to aluminum and wheat
Speaker 1: are adding to hot inflationary pressures that's hurting consumers and
Speaker 1: fueling concerns over an economic slowdown. Oil is heading for
Speaker 1: its biggest weekly surge in almost two years. Brent crude,
Speaker 1: which almost hit a hundred twenty dollars yesterday, is trading
Speaker 1: at around a hundred and ten dollars right now. Prices
Speaker 1: for wheat, aluminum, nickel, and crude are all expected to
Speaker 1: continue rising. Live in New York, I'm rened a young
Speaker 1: Bloomberg debreak Okay, Nita, Thanks and investors are also bracing
Speaker 1: for the February jobs report. We get a preview that
Speaker 1: from bloombergs Vinne del judas US pay roll growth probably
Speaker 1: top four hundred thousand in February. That would follow a
Speaker 1: solid January game a four hundred sixty seven thousand. Bloomberg
Speaker 1: Economics as workers have been sentived to return after the pandemic,
Speaker 1: citing rising wages as well as the end of emergency assistants.
Speaker 1: Labor shortage is persist and the number of workers collecting
Speaker 1: unemployment benefits is at a half century low. Fino Judae
Speaker 1: Spoomberg day break, RIGHTNY, Thank you. While turning to stocks
Speaker 1: on the move, Shares of Smith and Wesson are down
Speaker 1: twenty three percent, the gunmaker's third quarters sales missing analysts estimates,
Speaker 1: and Gap is up more than six and a half percent.
Speaker 1: The retailer giving an optimistic projection for the current Here
Speaker 1: and that's the five things you need to notice start
Speaker 1: your day. Brought to you by Interactive Brokers. It is
Speaker 1: currently well SMP futures are down about thirty five points.
Speaker 1: Right now, straight to Hedge yourlatest local headlines plus a
Speaker 1: check of sports. This is Bloomberg. It is currently six
Speaker 1: thirty three on Wall Street where twenty one degrees in
Speaker 1: Central Park. It's still dealing with the act are effects
Speaker 1: of a serious vehicle fire and northbound FDR drive. Michael
Speaker 1: Barr is here with what else is going on in
Speaker 1: New York and around the world. Good morning, Michael, Good
Speaker 1: morning Nathan. And important milestone in New York City's progress
Speaker 1: against COVID nineteen could soon arrive and Mayor Eric Adams
Speaker 1: lifts mask man dates in schools andacination requirements in restaurants, bars,
Speaker 1: and theaters. The mayor says a decision could come as
Speaker 1: soon as today, a long awaited development in the city
Speaker 1: that was once the epicenter of a deadly pandemic. While infections, hospitalizations,
Speaker 1: and deaths continue, the move by Adams could signal a
Speaker 1: turning point in the pandemic by firmly shifting the focus
Speaker 1: on recovery and return to normalcy. Outraged by the invasion
Speaker 1: of Ukraine, lawmakers in New Jersey's largest city lashed out
Speaker 1: at symbols of Russia in their city, a pair of
Speaker 1: Luke oil gas stations. The New York City Council voted
Speaker 1: unanimously to suspend the service stations operating licenses, citing Luke
Speaker 1: oils based in Moscow. However, the stations are franchises owned
Speaker 1: by locals, not Russians, and they employ mostly New Jersey residents.
Speaker 1: President Biden has signed a law preventing companies from forcing
Speaker 1: sexual assault or harassment victims into secret arbitration and settlements.
Speaker 1: Between half and three quarters Wall women reports that they
Speaker 1: have faced some form of sexual harassment were a place
Speaker 1: and too often to denied a voice from a fair
Speaker 1: chance to do anything about it. Vice President Kamala Harris
Speaker 1: also made the announcement with the President for st arbitration
Speaker 1: silences survivors a sexual assault and harassment. It shields predators
Speaker 1: instead of holding them accountable, and gives corporations a powerful
Speaker 1: tool to hide abuse and misconduct. Harris and President Biden
Speaker 1: praised both parties for the measure. For now, Donald Trump
Speaker 1: and two of his children won't have to appear for
Speaker 1: depositions in New York Attorney General Latisia James's probe of
Speaker 1: their families business while they challenge a decision requiring them
Speaker 1: to testify. The former president, Donald Trump Jr. And Ivanka
Speaker 1: Trump appeal to state judges order issuing last month that
Speaker 1: forced them to give testimony and James's investigation and to
Speaker 1: potentially fraudulent asset valuations at the Trump organization. Yesterday, James
Speaker 1: and the Trumps agreed that they will not have to
Speaker 1: appear until two weeks after an appellate panel in Manhattan
Speaker 1: upholds the order. Governor Phil Murphy is including property tax
Speaker 1: relief checks in the annual spending plan he will introduce
Speaker 1: next week with an average seven hundred dollars plan for
Speaker 1: New Jersey homeowners making as much as two hundred fifty
Speaker 1: thousand dollars a year. Global News twenty four hours a
Speaker 1: day on air and on Bloomberg Quicktech, powered by more
Speaker 1: than journalists analysts more than a hundred twenty countries. Michael
Speaker 1: bar this is Bloomberg, Nathan, Thanks Michael, six thirty six
Speaker 1: on Wall Street. John stash hours got the Bloomberg Sports update.
Speaker 1: Thanks Nathan Nixon. Nets have the exact same record over
Speaker 1: their last nineteen games, and it's not good. Three and
Speaker 1: sixteen NETS for the most part because to the Kevin
Speaker 1: Durant knee injury. He did return last night at park Ley's,
Speaker 1: his first game in forty seven days. NETS still lost
Speaker 1: to Miami one thirteen to one oh seven. K D
Speaker 1: scored thirty one points. Feel great, I'm only gonna get better,
Speaker 1: more comfortable out there, you know, take more of a
Speaker 1: load out there to post when I get um, when
Speaker 1: I get you know, more games under my boat. So
Speaker 1: um Nets visit Boston Sunday under the lost Strops and
Speaker 1: under five hundred knicks er in Phoenix tonight and the
Speaker 1: Suns are fifty and twelve. There twenty three games ahead
Speaker 1: of the Lakers, who just got blown out by the Clippers.
Speaker 1: Dallas being slumping Golden State Luca downs it's one points
Speaker 1: a year triple double. The Warriors have lost five of
Speaker 1: the last six. Islanders have lost eight of eleven. Beaten
Speaker 1: home by Vancouver four to three. College hoops upset in
Speaker 1: My Manhattan by two over Iona do Coast North Carolina tomorrow.
Speaker 1: Over forty two years, Mike Schofski has Coast over two
Speaker 1: hundred players. They've all been invited back for coach K's
Speaker 1: final ever home game. The NFL says there will be
Speaker 1: no COVID protocols for two starting with the offseason activities.
Speaker 1: France has eased its vaccine rules that may allout. Novak
Speaker 1: djokovis to play the French Open. Rory McIlroy loves playing
Speaker 1: bay Hill. He's been in the top ten five straight
Speaker 1: years in an opening around seventh. Roy has a two shot.
Speaker 1: John Stash were Bloomberg Sports Okay, John thanks six thirty
Speaker 1: seven on Wall Street Time to take a look at
Speaker 1: stock some of the names moving in the pre market.
Speaker 1: Bloomberg Radio and TV Markets corresponded. Creedy goop that joins
Speaker 1: us at the end of a very vault a week.
Speaker 1: Good morning, creedy, well, good morning, Yeah, a lot of
Speaker 1: red on the screen. Of course, a lot of this
Speaker 1: has to just come with fluctuations that you're seeing with
Speaker 1: the nuclear plant story in Ukraine, the latest kind of
Speaker 1: developments coming out of that war, essentially the issue with futures. Actually,
Speaker 1: as you saw this actually open in the green, then
Speaker 1: he saw a massive drop when those headlines of the
Speaker 1: nuclear plant came out, and then a reversal when the
Speaker 1: fire was finally be able to put out. But nevertheless,
Speaker 1: you are seeing a very risk off sentiment in the market.
Speaker 1: Let's get you some individual movers though, because tech is
Speaker 1: actually performing not as badly. I don't want to see
Speaker 1: outperformer performing not as badly as the rest of the market.
Speaker 1: Apple will use as a proxy here a a p
Speaker 1: L as your ticker up or actually down nine tenths
Speaker 1: of a percent. A m D, which is another Semis company,
Speaker 1: is down one point one percent. That's compared to some
Speaker 1: of the bigger kind of moves that you're seeing in
Speaker 1: some of the very heavy volume names from where those
Speaker 1: volatility plays like travel names, Carnival, Cruise, Lines at the
Speaker 1: top of that. Let's see c ls A Taker, They're
Speaker 1: down a whopping four point four percent. American Airlines a
Speaker 1: ls A taker, they're down two point three Just kind
Speaker 1: of giving you both sides of spectrum here, because those
Speaker 1: travel names are the most volatile names in the index,
Speaker 1: just given the COVID nineteen pandemic anyway, So when you
Speaker 1: do see a risk off tone like this, the biggest
Speaker 1: hit tends to be in those names, Nathan, And of course,
Speaker 1: in the risk off mornings we've seen this week or that,
Speaker 1: it seemed like the only upside movers have been once
Speaker 1: related to the energy sector, and we're seeing a surge
Speaker 1: in oil prices again this morning. Is that what's playing
Speaker 1: out again today? It absolutely is. I mean, check out
Speaker 1: some of the really just handful of names from seeing
Speaker 1: only ten stocks that are actually higher in UH in
Speaker 1: pre market trading. Let's tar with some of those oil stocks,
Speaker 1: like you mentioned Valero for example, v l O is
Speaker 1: your ticker up one one percent. Remember this does have
Speaker 1: some Russian energy exposure to so you don't want to
Speaker 1: keep an eye on this name. Devon Energy as well,
Speaker 1: d v and up eight tenths of a percent, But
Speaker 1: then you have some of the other commodity names as well.
Speaker 1: F c X for Freeport Mcmaran, of course, the major
Speaker 1: copper player, up eight tenths of a percent. Mosaic as well,
Speaker 1: the major a fertilizer maker that gets a lot of
Speaker 1: their business from Russia. M os as your taker, They're
Speaker 1: up nine tenths of percent. Defense names like Raytheon, r
Speaker 1: t X up one seven percent. I'm gonna end here
Speaker 1: with EPAM Systems. This is a software company that actually
Speaker 1: has fourteen thousand personnel in Ukraine, eighteen thousand Russia and Belarus.
Speaker 1: They had a major hit earlier on Monday when they
Speaker 1: would drew their guidance, essentially saying that because of the
Speaker 1: uncertain team of the region, they couldn't predict what was next.
Speaker 1: Took a major hit earlier this week, and now you're
Speaker 1: seeing a little bit of a cat bounce or dead
Speaker 1: cat bounce, as just say today, up just have two percent.
Speaker 1: Nathan all Right, Bloomberg Radio and TV Markets correspondent. Pretty
Speaker 1: good to so great to have you keeping us up
Speaker 1: to speed on what's happening in the market as we
Speaker 1: continue to watch this intensifying war in Ukraine right now
Speaker 1: SMP futures are down thirty eight points down, futures down
Speaker 1: two ninety and nansect futures are lower by a hundred
Speaker 1: twenty points a ten. Your treasury is up seventeen thirty seconds.
Speaker 1: The yield one point. The euro right now one point
Speaker 1: zero nine seven six against the dollar, that is near
Speaker 1: a two year low. This is Bloomberg Bloomberg eleven three
Speaker 1: oh weather mostly sunny, upper thirties today, It'll turn cloudy
Speaker 1: to start the weekend Saturday, highs in the upper forties,
Speaker 1: mid sixties by Sunday with scattered showers. Right now twenty
Speaker 1: one in Central Park markets. Headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg
Speaker 1: Business Out and at Bloomberg Quick Tape. This is a
Speaker 1: Bloomberg business flash and I'm far in Moscow. Futures are
Speaker 1: lower this morning. Let's go to the first word breaking
Speaker 1: news dash for today's morning call. Here's Bill Maloney. Welcome
Speaker 1: morning and good morning Karen. That's right. US features are
Speaker 1: under pressure and made Ukraine worries. Futures currently down two
Speaker 1: D seventy one point says if you shop thirty five one,
Speaker 1: that's deck futures are off by a hundred and four
Speaker 1: the US ten yeld at one point seven eight percent,
Speaker 1: gold is up ten oil is climbing, and bitcoin is
Speaker 1: down by one percent. Japan fell two point two percent overnight,
Speaker 1: while up markets are under pressure, led by four percent
Speaker 1: losses in Italy. Back in the US on the Economic
Speaker 1: Frinday thirty u S February jobs report after develous night,
Speaker 1: Costco sales beat estimates and Broadcom Q two revenue beat estimates.
Speaker 1: In other news, Private Equity built a seven and a
Speaker 1: half percent stake in Splunk worth about one point four billion.
Speaker 1: Rabbing things up Sea three a I was cut to
Speaker 1: sell at Deutsche Bank. Spunk was raised to outperform over
Speaker 1: at IOWA. Live from the First Breaking News Desk on
Speaker 1: Bill Maloney. Care all right, Bill, thank you, and here
Speaker 1: live breaking news over your Bloomberg type squawk on your
Speaker 1: terminal s Q you A w u K that's a
Speaker 1: Bloomberg business flash. Now here's Michael are with more on
Speaker 1: what's going on around the world. Michael Karen, thank you
Speaker 1: very much. Russian forces occupied the site of Europe's largest
Speaker 1: nuclear power plant today after an attack that ignited the
Speaker 1: fire at the complex in Ukraine. Emergency services extinguished the
Speaker 1: fire and there were no casualties. Ukraine told the International
Speaker 1: Atomic Energy Agency the incident had not effected the central
Speaker 1: equipment and there had been no change reported in radiation levels.
Speaker 1: The Winter Paralympics are set to open in Beijing today
Speaker 1: with the Russian athletes sent home. Meanwhile, with the Ukrainian
Speaker 1: team escaping a war zone. The head of the delegation says,
Speaker 1: it's a miracle they got to China. In the NBA,
Speaker 1: the Nets and Warriors lost the Celtics. One in the NHL,
Speaker 1: the Islanders lost the Bruins and Capitals. One. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg
Speaker 1: Quick Take, powered by more than twenty seven hundred journalists
Speaker 1: and analysts in more than one twenty countries. I'm Michael Barr.
Speaker 1: This is Bloomberg Arran. Sorry Michael Barr. Thank you. Sixty
Speaker 1: nine on All Straight and we turn to news now
Speaker 1: in science and technology with the Bloomberg and j I
Speaker 1: T STEMM Report, brought to you by New Jersey Institute
Speaker 1: of Technology and j I T makes infrastructure ready graduates
Speaker 1: from civil engineers to transportations specialists. If it's infrastructure and
Speaker 1: j I T grads are building it more at n
Speaker 1: j I T DOT e DU. Now Here's what's making
Speaker 1: news and science, technology, engineering, and math too. Big names
Speaker 1: in Japanese electronics and autos are joining forces to produce
Speaker 1: an electric vehicle together. Sony Group and Honda Motor have
Speaker 1: agreed to set up a joint venture this year to
Speaker 1: start selling an electric vehicle by all the world's automakers
Speaker 1: have been developing zero emissions electric vehicles as concerns grow
Speaker 1: about pollution and climate change. The US government's annual safety
Speaker 1: ratings of cars may soon give them credit for having
Speaker 1: driver assistance systems. It's the latest indication that the once
Speaker 1: futuristic technology is becoming mainstream. The Department of Transportation proposed
Speaker 1: that lane keeping support, automatic emergency breaking, blind spot detection,
Speaker 1: and blind spot intervention be incorporated into its five star
Speaker 1: safety writings program for new cars. And Apple will begin
Speaker 1: to drop its mass requirement for both corporate and retail
Speaker 1: employees in the U S as COVID cases decline and
Speaker 1: local governments loosen restrictions. The company told staff that mass
Speaker 1: for vaccinated corporate employees are now optional at offices and
Speaker 1: regions where local indoor mass mandates have been eliminated, and
Speaker 1: as the Bloomberg and j I. T Stem report Nathan,
Speaker 1: thank you, Karen. We're live from the Bloomberg Interactive Brokers
Speaker 1: studios where it's almost six fifty one on Wall Street
Speaker 1: time now to check what's going on in VC. Some
Speaker 1: of the top stories in our nation's capital include the
Speaker 1: White House monitoring the situation after Russia fires on and
Speaker 1: occupies Europe's biggest nuclear plant in Ukraine, the Biden administration
Speaker 1: slapping sanctions on eight wealthy Russians and their families, and
Speaker 1: the White House balking at a ban on Russian oil,
Speaker 1: sparking a new feud with Congress. Let's bring in Bloomberg
Speaker 1: Government reporter Emily Wilkins as we continue watching developments in
Speaker 1: the war in Ukraine. Of course, Emily, we had that
Speaker 1: attack on the southeastern Ukrainian nuclear site overnight and Russia
Speaker 1: is now occupying it. What's the latest there and how
Speaker 1: the US is responding. So we have heard that the
Speaker 1: fire has been put out, that radiation levels are normal,
Speaker 1: or at least the fires have not put out, has
Speaker 1: been contained, and so the threat level there has gone
Speaker 1: down a bit but yes, it has been taken over
Speaker 1: and is held by the Russians. I think really the
Speaker 1: concern here is that they would even target a nuclear plant,
Speaker 1: just the level of danger that that would bring about.
Speaker 1: A Ukrainian president, Zelinski said, if there is an explosion, quote,
Speaker 1: it's the end of everything, the end of Europe. And
Speaker 1: you're hearing similar rhetory from across the world from Boris Johnson,
Speaker 1: from Energy Energy Secretary Jennifer Graholm. Just a lot of
Speaker 1: fear about what could have happened had more key parts
Speaker 1: of this nuclear facility caught on fire or been hurt
Speaker 1: in the attacks. Um So that's certainly something that's been
Speaker 1: top of mind, and it really comes as there's this
Speaker 1: wider debate in Washington unfolding about what needs to happen
Speaker 1: in terms of energy, I mean specifically with the energy
Speaker 1: the oil and gas that the US buys from Russia
Speaker 1: and whether or not there should be a ban on that. Yeah,
Speaker 1: it does feel like something that raises the stakes when
Speaker 1: it comes to the danger from this war. Does it
Speaker 1: change the focus for the US and Europe in terms
Speaker 1: of how to respond to Russia. I mean, at this point,
Speaker 1: we haven't seen any sort of concrete change come from it.
Speaker 1: We did see that there was a Ukrainian energy minister
Speaker 1: called for a no fly zone over Ukraine, but that
Speaker 1: does not seem likely because you know that the US
Speaker 1: and NETOT have explained establishing that no fly zone would
Speaker 1: mean engaging and shooting down Russian planes and and that
Speaker 1: could lead to a much wider war across Europe. Uh So,
Speaker 1: at this point, there doesn't seem to be any particular
Speaker 1: change there. But you know, obviously these these attacks occurred
Speaker 1: later in the evening. You've got Washington waking up right now.
Speaker 1: It will be very interesting to monitor the situation today
Speaker 1: and to see what sort of response there will be.
Speaker 1: And you mentioned it comes amid the debate over whether
Speaker 1: to target Russian oil and gas in terms of sanctions.
Speaker 1: We got that sanctions announcement yesterday from the Biden administration
Speaker 1: against Russian oligarchs. Are we seeing that have any effect
Speaker 1: at this point? At this point, it's probably a little
Speaker 1: too soon to tell whether or not these sanctions on
Speaker 1: the oligarchs are having the intended effect, which is of
Speaker 1: course to move them further away from Putin, to really
Speaker 1: chip into Putin's inner circle. We have seen some signs
Speaker 1: that some of these oligarchs have been trying to distance
Speaker 1: themselves a little bit from Putin. But I think when
Speaker 1: you're looking at the sanctions that are really going to
Speaker 1: have the most impact, I think more people are keeping
Speaker 1: an eye on the economic sanctions um rather than the
Speaker 1: ones that are targeting Putin's inner circle. And one of
Speaker 1: those economic sanctions that's still uh ostensibly, I guess on
Speaker 1: the table. Least the White House has said is targeting
Speaker 1: Russian oil and gas, but it seems like there's been
Speaker 1: a reluctance to go that far. What's the pressure that
Speaker 1: the White House is facing right now when it comes
Speaker 1: to potentially taking aim at the energy sector in Russia. Well,
Speaker 1: the White House is facing a lot of pressure right
Speaker 1: now to ban US imports of Russian oil. House speaker
Speaker 1: Nancy Pelosi was asked about a potential ban yesterday during
Speaker 1: her pressor. She did not mince words. She said, I'm
Speaker 1: all for that ban it and that is goes against
Speaker 1: kind of what the White where the White House is
Speaker 1: at right now. They've said that doing such a ban
Speaker 1: you could hurt Americans, could hurt gas, could get further
Speaker 1: increased gas prices in the US. But there's a bipartisanship
Speaker 1: building around this issue. You saw legislation introduce that would
Speaker 1: implement a ban from both Republican Senator Lisa Mirikowski and
Speaker 1: Democratic Senator Joe Mansion. And pressure is also coming to
Speaker 1: the White House via oil executive asking Biden to support
Speaker 1: the shell industry and that this is a time that
Speaker 1: the US really needs to go all in on its
Speaker 1: energy sources to keep from relying on Russia. Yeah, it
Speaker 1: was interesting to hear from some of those oil executives
Speaker 1: saying they haven't even had a conversation yet with the
Speaker 1: President or anyone at the White House when it comes
Speaker 1: to supporting US shale. Could there be any movement on
Speaker 1: that score from the Wine House? Well, the White House
Speaker 1: hasn't exactly been bfs with the shell producers. I mean,
Speaker 1: if I didn't, you know, he he really does did
Speaker 1: come in looking to enact a sort of green climate
Speaker 1: agenda with clean energy, uh, and so you haven't seen
Speaker 1: a lot of support for that. But it will be
Speaker 1: very notable to see how this conflict and how the
Speaker 1: current situation might wind up changing that relationship. And it
Speaker 1: does certainly seem like this conflict is escalating very quickly,
Speaker 1: only about a week and a half since the invasion.
Speaker 1: Bloomberg Government reporter Emily Wilkins, thank you for keeping us
Speaker 1: up to speed on what's happened from the perspective of
Speaker 1: the nation's capital. And you can read much more at
Speaker 1: Bloomberg dot com or on the Bloomberg terminal. Listen to
Speaker 1: Bloomberg Radio when you're in Washington, d C. It's at
Speaker 1: Bloomberg one and one oh five point seven FM h
Speaker 1: D two. Karen, all right, Nathan, it is six fifty
Speaker 1: six on Wall Street, and this is Bloomberg Daybreak. And
Speaker 1: March is Women's History Month, and every day this month
Speaker 1: we're celebrating significant moments in women's history. Now if your
Speaker 1: installment for March fourth, here is Bloomberg's Trina Young on
Speaker 1: this day in Women's History. In nineteen thirty three, Francis
Speaker 1: Perkins is sworn in as U S Secretary of Labor,
Speaker 1: making her the first female member of a U S
Speaker 1: presidential cabinet. She served under President Franklin Roosevelt. Prior to
Speaker 1: the White House, Perkins tirelessly fought for workers rights and
Speaker 1: safety in various New York City and state agencies. She
Speaker 1: was one of two cabinet members who served for the
Speaker 1: entirety of the Roosevelt administration. Perkins played an active role
Speaker 1: in developing and enacting a wide range of New Deal programs,
Speaker 1: including the Social Security Act and the Fair Labor Standards Act.
Speaker 1: She also pushed for a minimum wage, a maximum work week,
Speaker 1: and a limit on unemployment of children under sixteen. That's
Speaker 1: today in women's history. I'm Nita Young, Bloomberg Radio. All right, Brinita,
Speaker 1: thank you, and we continue to watch currencies this morning,
Speaker 1: with a euro extending its decline below a dollar ten
Speaker 1: for the first time since May, currently at right now
Speaker 1: one point oh nine seven nine against the dollar at
Speaker 1: the end is at one fifteen point three six and
Speaker 1: the British pound is at one point three to nine zero.
Speaker 1: Bloomer Surveillance is straight ahead with Tom King, Jonathan Farrell,
Speaker 1: and Lisa Abramowitz for Nick and Hagar. I'm para Moscow,
Speaker 1: and this is Bloomberg