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Speaker 1: Live from the Bloomberg Interactive Burger Studios. This is Bloomberg

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Speaker 1: day Break for Tuesday, February one. Coming up today, President

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Speaker 1: Biden stops in Poland after yesterday's surprise visit to Ukraine.

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Speaker 1: HSBC considers a special payout after profit jumps. Walmart and

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Speaker 1: Home Depot report earnings this morning, and results are in

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Speaker 1: from the largest ever four day work week trial. New

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Speaker 1: quakes in Turkey and Syria have left more dead, plus

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Speaker 1: New York Congressman George Santos admits he's a terrible lawyer.

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Speaker 1: I'm Michael Barr. More ahead, I'm John Stas shown sports,

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Speaker 1: the Rangers lost to Winnipeg. The Islanders one in Pittsburgh

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Speaker 1: Bay Yankees held their first full team workout. That's all

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Speaker 1: straight ahead on Bloomberg day Break, The Business news you

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Speaker 1: need disturb your day, and just one fifteen minute podcast

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Speaker 1: each pointing on Apples, Spotify, the Bloomberg Business app and

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Speaker 1: everywhere you get your podcasts. Good morning. I'm Nathan Hagar

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Speaker 1: and I'm Karin Moscow. Here are the stories we're following today.

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Speaker 1: The latest on President Biden's surprise trip to Ukraine. President

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Speaker 1: is now in Poland. He'll meet with President Andre Doodap

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Speaker 1: and he's scheduled to deliver an address tonight. Amy Morris

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Speaker 1: has details from our Bloomberg newsroom in Washington. President Biden

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Speaker 1: will use his address in Poland to deliver a message

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Speaker 1: to Russia that NATO is stronger than ever united in

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Speaker 1: its support of Ukraine. While in Kiev, President Biden said

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Speaker 1: his goal was to reaffirm his administration's unwavering and unflagging

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Speaker 1: commitment to Ukraine's democracy, sovereignty, and territorial integrity. It's worth

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Speaker 1: for as long as it takes. And that's how long

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Speaker 1: we're gonna be with you, Mr President, for as long

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Speaker 1: as it takes. In his remarks, the President also announced

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Speaker 1: an additional half billion dollars in aid for Ukraine in Washington.

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Speaker 1: I'm Amy Morris, Bloomberg Daybreak. All right, Amy, thank you all.

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Speaker 1: Turning to the markets now, stocks are lower as you

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Speaker 1: begin a shortened trading week, and they'll drop even further.

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Speaker 1: According to Morgan Stanley, the firm strategist led by Mike Wilson,

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Speaker 1: says the S and P five hundred could slide as

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Speaker 1: much as in the first half of this year. Wilson,

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Speaker 1: you correctly predicted the sell off in stocks last year,

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Speaker 1: says recent economic data suggests the economy might be able

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Speaker 1: to dodge your a session, but that has also taken

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Speaker 1: the possibility of a FED pivot off the table, and

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Speaker 1: Goldman Sachs also doesn't see a FED pivot this year.

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Speaker 1: Karen Chief economist John Hatzius sees the Central Bank raising

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Speaker 1: interest rates by twenty five basis points. That it's March,

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Speaker 1: May and June meetings. We've seen some higher inflation numbers

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Speaker 1: for January. I don't necessarily think that that breaks the

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Speaker 1: trend towards this inflation, but I think it reinforces the

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Speaker 1: idea that the FED still has work to do, and

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Speaker 1: so we think another seventy five basis points from here

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Speaker 1: with no cuts until two thousand and twenty four seems

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Speaker 1: like a more likely outcome. Goldman Chief economist John Hatzius

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Speaker 1: is skeptical that the FED will return to larger fifty

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Speaker 1: basis point hikes. Bank earnings also in Bocus overseas this morning,

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Speaker 1: Nathan HSBC reported profit above estimates. The lender also said

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Speaker 1: it will consider a special payout after the ten billion

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Speaker 1: dollar sale of its Canadian unit. Speaking to Bloomberg, HSBC

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Speaker 1: is CEO nol Quinn also gave an upbeat assessment of

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Speaker 1: the British economy. We're not seeing any major signs of

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Speaker 1: stress at the moment in our retail business. Uh, it's

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Speaker 1: it's in relatively normal territory. In our wholesale and commercial

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Speaker 1: banking business. I think there are some corporates that are

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Speaker 1: starting to feel some cash flow pressure because of hiring,

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Speaker 1: inflation on higher interest rates, but again that's still fairly marginal,

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Speaker 1: I would say at the moment. For us HSBC CEO

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Speaker 1: Noel Quinn says the bonus pool for the bank has

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Speaker 1: been cut to three point three six billion dollars, down

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Speaker 1: from three and a half billion last year. The world's

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Speaker 1: biggest mining company has posted profit that fell short of estimates.

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Speaker 1: B HP is also cutting its dividend after sluggish demand

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Speaker 1: for iron, copper and call. However, CEO Mike Henry is

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Speaker 1: optimistic going forward. We're seeing the green shoots come through

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Speaker 1: since the start of this calendar year. Increased mobility figures,

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Speaker 1: more bank lending, improved business sentiment, property prices up in

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Speaker 1: some cities, so that kind of reinforces the positive outlook

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Speaker 1: for the that we have for the year ahead. Which

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Speaker 1: we expect to offset slowing growth in both the US

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Speaker 1: and Europe. B HP CEO Mike Henry says he's also

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Speaker 1: optimistic about a demand recovery in China. B HP shares

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Speaker 1: right now are down nearly three percent. In London, shares

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Speaker 1: a Credit Suite at a record load this morning, Nathan.

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Speaker 1: The drop comes as Reuter's reports at Switzerland's financial regulator

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Speaker 1: is reviewing comments from a Bloomberg interview. It's looking at

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Speaker 1: part of a conversation where Chairman Actual Lehman set outflows

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Speaker 1: from Credit Suite of stabilized. And here's what he said

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Speaker 1: from that interview in December. Doubt was basically have stopped.

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Speaker 1: What we saw is two three weeks in October womb

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Speaker 1: and since then flattening out, they have stopped. It's gradually

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Speaker 1: coming back, and particular in Switzerland, and that's Credit Swite

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Speaker 1: chairman Actually Lehman speaking to Bloomberg in December. So far,

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Speaker 1: both Switzerland's financial regulator and Credit Suite are declining to

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Speaker 1: comment on Reuter's report. Well back here the US Karen

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Speaker 1: retail will be in focus this morning. Is both Walmart

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Speaker 1: and Home Depot report earnings. Let's get a preview of

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Speaker 1: Walmart's results now with Bloomberg's Jeff Ballinger. Walmart's own guidance

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Speaker 1: for the fourth quarter was for a same store sales

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Speaker 1: gain of around three percent. Bloomberg Intelligence says the giant

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Speaker 1: retailer had a solid holiday season and sales may have

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Speaker 1: exceeded the forecast as consumers look for value. Walmart has

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Speaker 1: said it's adjusted profit likely declined because labor and other

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Speaker 1: costs remain high, but the company has been pushing back

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Speaker 1: on further price increases by suppliers. Discounts and a shift

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Speaker 1: in the consumer spending mixed toward more food and less

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Speaker 1: general merchandise may have caused a small contraction in gross margin.

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Speaker 1: Jeff Bollinger, Bloomberg day Break, Right, Jeff, thanks well over

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Speaker 1: in the UK, results are in from the largest ever

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Speaker 1: trial of the four day work week, and we go

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Speaker 1: live to London and get the details from Bloomberg's You

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Speaker 1: in Parts. Good Morning, You in Good morning Karen Nathan,

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Speaker 1: how do you fancy a permanently shorter working week? While

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Speaker 1: the world's biggest ever trial of a four day work

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Speaker 1: week has found that most companies say they don't plan

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Speaker 1: to return to the five day standards. The UK study

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Speaker 1: involves sixty organizations and nearly three thousand workers compressing their

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Speaker 1: normal week into fewer days. When employees were asked about

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Speaker 1: returning to the old schedule, one in six said that

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Speaker 1: no amount of money will be enough to persuade them

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Speaker 1: to go back. In London working a five day work week,

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Speaker 1: I'm you in parts day break, Thanks you and local headlines.

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Speaker 1: Straight ahead, This is Bloomberg. Thirty eight degrees in New York.

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Speaker 1: Scattered showers this morning. They'll be back late this afternoon

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Speaker 1: as well as we head to near fifty degrees. Will

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Speaker 1: clear out late tonight, get down to the mid thirties.

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Speaker 1: Time Now for a look at some of the other

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Speaker 1: stories making news in New York and around the world,

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Speaker 1: with Bloomberg's Michael Bark. Good morning, Michael, Good morning Nathan.

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Speaker 1: A pair of earthquakes, including a six point for magnitude,

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Speaker 1: struck Turkeys Southeastern Province, two weeks after major tremors in

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Speaker 1: the same area left tens of thousands of people dead.

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Speaker 1: Three people were killed and more than two hundred taken

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Speaker 1: to hospitals after the quakes on Monday evening. Around one

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Speaker 1: point six million people are currently housed in temporary shelters

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Speaker 1: from the quakes. Starting two weeks ago, the tensions between

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Speaker 1: the US and China have eat it up even more

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Speaker 1: over the long weekend. Bloomberg's that Baxter as the story,

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Speaker 1: both in words and actions. President Biden's surprise trip to

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Speaker 1: Ukraine and comments saying that China must not form an

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Speaker 1: alliance with Russia regarding the invasion tied to China's top

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Speaker 1: diplomat going to meet Russian leaders in Moscow and shin

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Speaker 1: Wa publishing a long piece criticizing US policy, saying the

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Speaker 1: US misbehaves from military to cultural. It says the US

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Speaker 1: embeds its values in products. This not even to mention

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Speaker 1: the US congressional delegation in Taiwan meeting with President sighing

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Speaker 1: when in San Francisco, I'm at Baxter Bloomberg Daybreak. He's

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Speaker 1: under investigation by low coal, state and federal lawmakers over

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Speaker 1: a suspected campaign finance violations. New York Republican Congressman George

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Speaker 1: Santos has gotten criticisms from everyday Americans for lying about

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Speaker 1: his past. Well, I've been a terrible liar. This wasn't

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Speaker 1: about tricking anybody, This wasn't about this it's it's no, no, no, no,

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Speaker 1: let me. It was about tricking. Let me finish. It

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Speaker 1: wasn't about tricking to the people. This was about getting

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Speaker 1: accepted by the party. Here local the Long Island Republicans

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Speaker 1: spoke to talk TV host Pierce Morgan. The NYPD continues

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Speaker 1: to search for the man who vandalized a mobile synagogue

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Speaker 1: in Manhattan. The van was parked near Broadway and Prince Street.

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Speaker 1: Authorities released video of a man riding Palestine on the

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Speaker 1: outside of a mobile Mitzvah tank. Police say the Hate

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Speaker 1: Crimes Task Force is investigating the incident. Authorities in a

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Speaker 1: New Jersey school district have announced new managures aimed at

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Speaker 1: stemming violence following a stabbing outside of high school last week.

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Speaker 1: They killed a teenager and wounded another. Patterson Public Schools

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Speaker 1: said that police had agreed to provide walking police patrols

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Speaker 1: on streets around Patterson's East Side High School from two

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Speaker 1: pm to four pm. Global News twenty four hours a

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Speaker 1: day on air and on Bloomberg Quick Take, powered by

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Speaker 1: more than twenty seven hundred journalist an analysts in over

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Speaker 1: a hundred twenty countries. I'm Michael bar This is Bloomberg Nathan.

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Speaker 1: Thank you, Michael time for the Bloomberg Sports update brought

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Speaker 1: to you by Trice State Outy. For that, we're bringing

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Speaker 1: John stash Our, Thanks Nathan. Rangers back home. They came

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Speaker 1: into the Garden red hot seven oh and one of

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Speaker 1: the last eight games. He had a big edge and

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Speaker 1: shots on goldbo Winnipeg goalie Connor Hellabuck made fifty says

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Speaker 1: Mark Sifey scored twice the Jets one four to one

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Speaker 1: first regulation lost with the Rangers in the January nine.

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Speaker 1: Islanders had a big comeback this past Friday against the Penguins.

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Speaker 1: They did it again in Pittsburgh. They trailed third period.

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Speaker 1: Penguins bring it to the nearest side, Balcon dangerously in

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Speaker 1: front of his net for Joseph quips it off the

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Speaker 1: glass fars but turned it over. Here's more that through

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Speaker 1: the right circle. Shop An let's sit home from the

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Speaker 1: right circle and has tied this game at Chris k

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Speaker 1: to r h ut go for Horvath in New Islander

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Speaker 1: and two minutes later and there's least going his twenty

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Speaker 1: second of the year the Isles one four to two.

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Speaker 1: College Roops twenty win for Duke in this first season

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Speaker 1: without my succesty Duke beat Louisville, whose record is four

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Speaker 1: and twenty four. Kansas won the n c AS last year.

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Speaker 1: They could do it again. Jay Opson ranked third. They

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Speaker 1: want at TCU Houston at twenty five and two ranked

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Speaker 1: number one the third different time. Russell Westbrook been all

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Speaker 1: those years at Oklahoma City. He's been bouncing around the

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Speaker 1: NBA lately. He was with the Lakers, got traded to Utah,

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Speaker 1: got bought out there. Westbrook will now signed with the

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Speaker 1: l A Clippers. And Patrick Beverley also was a Laker,

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Speaker 1: and he seems headed now to Chicago. Jana Sons of

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Speaker 1: the Compo came to New York for an exam on

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Speaker 1: his injured risk. He's got a spring ligament, full Yankee

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Speaker 1: squad workout in Tampa. So Aaron Judges first press conference,

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Speaker 1: he was asked about another sixty two home run season.

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Speaker 1: Judge said, you can never know. John Stash Allen Conberg

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Speaker 1: Sports live from coast to coast, from New York to

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Speaker 1: San Francisco, Boston to Washington, d C. Nationwide on Sirius XAMP,

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Speaker 1: the Bloomberg Business app, and Bloomberg dot Com. This is

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Speaker 1: Bloomberg Daybreak. Good morning. I'm Nathan Hagar. President Biden will

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Speaker 1: be looking to build on his surprise wartime trip to

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Speaker 1: Kiv when he meets today with the President of Poland

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Speaker 1: and gives a major speech in Warsaw to market year

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Speaker 1: since Russia's invasion of Ukraine. Meantime, the President of Russia,

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Speaker 1: Vladimir Putin is vowing to press on with his faltering

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Speaker 1: invasion until Russia's goals are achieved. Putin is giving a

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Speaker 1: speech of his own to parliament in Moscow. Right now.

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Speaker 1: We're joined live at the meantime by Bloomberg Warsaw Bureau

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Speaker 1: chief Pyotr Skalamowski as these two leaders get set to

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Speaker 1: address their domestic audiences and the world. Really, Pyotr, good morning.

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Speaker 1: What is standing out to you? First off, from what

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Speaker 1: the Russian president is saying as we head towards year

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Speaker 1: two of the war in Ukraine. Hi, indeed, so it's

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Speaker 1: obviously probably not a big surprise, but putting it has

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Speaker 1: struck a very defiant note. So he obviously more or

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Speaker 1: less doubles down on on what he's been telling the

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Speaker 1: world since the war since his invasion actually started a

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Speaker 1: year ago. First of all, he said that you know

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Speaker 1: this is this is go. He will solve what he

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Speaker 1: called the task step by step carefully and consistently, meaning

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Speaker 1: he's preparing his his population also for a for a

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Speaker 1: long war. This is not going to end very quickly.

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Speaker 1: And obviously he repeated the the phrase that he was before,

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Speaker 1: which was also kind of served as a as the

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Speaker 1: purpose for the war previously, that you know, the Russia

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Speaker 1: is finding for for for historic lands, describing Ukraine as

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Speaker 1: as as part of the of the Russia historically. Um.

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Speaker 1: So we more or less hearing more of the same

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Speaker 1: from Putting and an indication that he has not done,

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Speaker 1: if anything, he's ready to go um go there for

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Speaker 1: a long haul. So, given that we're not hearing much

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Speaker 1: different from the Russian president right now, are you expecting

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Speaker 1: that the remarks that we're hearing from Moscow are going

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Speaker 1: to affect what President Biden has to say at all

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Speaker 1: when he delivers his speech in Warsaw later this evening. Well, well,

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Speaker 1: we heard from Jake Sullivan he was briefing reporters here

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Speaker 1: in Warsaw. He said that obviously Biden's remarks are not

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Speaker 1: going to um to be directly, uh, won't be a

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Speaker 1: direct response to what Putt inside and his his his

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Speaker 1: remarks will be broked. But obviously it's it's hard to um,

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Speaker 1: you know, to to not to compare these two speeches.

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Speaker 1: But obviously the message that we're going to get from

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Speaker 1: from Biden most likely will be, uh, sort of the

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Speaker 1: echo what he heard from what we heard from him

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Speaker 1: in Kiev, which is, you know, um, the West State

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Speaker 1: it stands united, So the NATO is together, so the

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Speaker 1: war has has actually united um, the Western NATO, and

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Speaker 1: and that the US is there for a long hall

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Speaker 1: as well. Um. Something that he said in Ukraine was

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Speaker 1: you know, the US is therefore as long as it

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Speaker 1: takes for Ukraine to to become independent. And he also

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Speaker 1: stressed that, you know, the the Ukraine was supposed to

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Speaker 1: fall within days. Now Ukraine's Ukraine stands, Kiev stands, and

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Speaker 1: what he said, democracy stands. So we can sort of

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Speaker 1: imagine this is going to be the sort of the

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Speaker 1: narrative we're going to hear this, you know, this president

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Speaker 1: representing the democracy and and Putting representing the autocracy. Given

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Speaker 1: that image that we saw over the weekend of President Biden,

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Speaker 1: you know, standing side by side with Ukrainian President Zelenski

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Speaker 1: and walking through key of his air raid sirens blared.

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Speaker 1: What message does that send to Europe he and allies?

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Speaker 1: And can the President capitalize on that in the speech tonight?

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Speaker 1: Absolutely obviously, you know, as anything with this conflict that

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Speaker 1: it's obviously for for for history books. But you know

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Speaker 1: the fact that the U. S. President goes into conflict

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Speaker 1: zone in a place where there are no U S. Basis,

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Speaker 1: no actual military presence, is you know, speaks volumes right,

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Speaker 1: it's it's and it and it was not just fly

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Speaker 1: in and out. It's it was a ten hour trip

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Speaker 1: by train through the conflict zone. So it's it's a

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Speaker 1: major message of defiance. And I think it kind of

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Speaker 1: builds up the momentum for this speech. Um. So if

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Speaker 1: if anyone doubts the words that the Biden is going

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Speaker 1: to deliver that there is there's confident, there's there's defiance,

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Speaker 1: you know, he can just point out to what he

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Speaker 1: has just done, um that you know, the the fact

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Speaker 1: that you know, he he's been there, he's shown support,

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Speaker 1: is you know, speaks volumes um as well as you

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Speaker 1: know all the commitments because obviously, um Biden also promised

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Speaker 1: additional help. I mean one thing there obviously is that

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Speaker 1: this helper might not be as as substantial as Ukraine

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Speaker 1: was hoping for, because they're obviously pushing for for fighter

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Speaker 1: jets right now there's no approval of that, but um

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Speaker 1: at least you know there's additional help and and there's

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Speaker 1: a sense that the US will will be there for

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Speaker 1: long haul. This is Bloomberg day Break Today, your morning

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